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      <AccountantCompileOrReview>0</AccountantCompileOrReview>
      <FSAudited>1</FSAudited>
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      <FinancialStatementSeparate>X</FinancialStatementSeparate>
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    </IRS990>
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        <Identifier>DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:</Identifier>
        <ReturnReference>PART X:</ReturnReference>
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        <TypeOfActivitiesConducted>PROGRAM SERVICE</TypeOfActivitiesConducted>
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      <AcctsActvsOutUSTable>
        <Region>SHANGHAI, CHINA</Region>
        <NumberOfOffices>0</NumberOfOffices>
        <NumberOfEmployees>0</NumberOfEmployees>
        <TypeOfActivitiesConducted>PROGRAM SERVICE</TypeOfActivitiesConducted>
        <SpecificServicesProvided>CONFERENCE</SpecificServicesProvided>
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      </AcctsActvsOutUSTable>
      <AcctsActvsOutUSTable>
        <Region>LONDON, ENGLAND</Region>
        <NumberOfOffices>0</NumberOfOffices>
        <NumberOfEmployees>0</NumberOfEmployees>
        <TypeOfActivitiesConducted>PROGRAM SERVICE</TypeOfActivitiesConducted>
        <SpecificServicesProvided>NETWORKING EVENT</SpecificServicesProvided>
        <TotalExpenditures>40402</TotalExpenditures>
      </AcctsActvsOutUSTable>
      <SubtotalNumberOfOffices>0</SubtotalNumberOfOffices>
      <SubtotalNumberOfEmployees>0</SubtotalNumberOfEmployees>
      <ContNumberOfOffices>0</ContNumberOfOffices>
      <ContNumberOfEmployees>0</ContNumberOfEmployees>
      <TotalNumberOfOffices>0</TotalNumberOfOffices>
      <TotalNumberOfEmployees>0</TotalNumberOfEmployees>
      <SubtotalAmountSpent>1083361</SubtotalAmountSpent>
      <ContAmountSpent>0</ContAmountSpent>
      <TotalAmountSpent>1083361</TotalAmountSpent>
      <GrantsToOrgsOutsideUS>
        <Region>EUROPE (INCLUDING ICELAND &amp; GREENLAND)</Region>
        <PurposeOfGrant>ASSISTING THE CAPE TOWN ACADEMIC PROJECT</PurposeOfGrant>
        <AmountOfCashGrant>50000</AmountOfCashGrant>
        <MannerOfCashDisbursement>CASH</MannerOfCashDisbursement>
        <AmountOfNonCashAssistance>0</AmountOfNonCashAssistance>
      </GrantsToOrgsOutsideUS>
      <TotalNumberOfOtherOrgs>1</TotalNumberOfOtherOrgs>
      <TransferToForeignCorp>0</TransferToForeignCorp>
      <InterestInForeignTrust>0</InterestInForeignTrust>
      <OwnForeignCorp>0</OwnForeignCorp>
      <PassiveForeignInvestCo>0</PassiveForeignInvestCo>
      <ForeignPartnership>0</ForeignPartnership>
      <BoycottCountries>0</BoycottCountries>
      <Form990ScheduleFPartV>
        <Identifier>PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.:</Identifier>
        <Explanation>SCHEDULE F, PART I, LINE 2: MAINTAINS RECORDS TO SUBSTANTIATE GRANT AND REVIEWS FINAL PROJECT.</Explanation>
      </Form990ScheduleFPartV>
      <Form990ScheduleFPartV>
        <Identifier>METHOD USED TO ACCCOUNT FOR EXPENDITURES:</Identifier>
        <Explanation>SCHEDULE F, PART I, LINE 3: CASH</Explanation>
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    </IRS990ScheduleF>
    <IRS990ScheduleI documentId="RetDoc1041900001">
      <RecordsMaintained>1</RecordsMaintained>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>ISTAT FOUNDATION</BusinessNameLine1>
        </RecipientNameBusiness>
        <AddressUS>
          <AddressLine1>401 N MICHIGAN AVENUE 22ND FLOOR</AddressLine1>
          <City>CHICAGO</City>
          <State>IL</State>
          <ZIPCode>60611</ZIPCode>
        </AddressUS>
        <EINOfRecipient>541742507</EINOfRecipient>
        <IRCSection>501(C)(3)</IRCSection>
        <AmountOfCashGrant>268762</AmountOfCashGrant>
        <MethodOfValuation>CASH</MethodOfValuation>
        <PurposeOfGrant>FUNDS FOR SCHOLARSHIPS, GRANTS AND EDUCATIONAL PROGRAMS</PurposeOfGrant>
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      <TotalNbrOf501C3AndGovtGrants>1</TotalNbrOf501C3AndGovtGrants>
      <Form990ScheduleIPartIV>
        <Identifier>PROCEDURE FOR MONITORING GRANTS IN THE U.S.:</Identifier>
        <ReturnReference>PART I, LINE 2:</ReturnReference>
        <Explanation>SCHEDULE I, PART I, LINE 2: MAINTAINS RECORDS TO SUBSTANTIATE GRANT AMOUNTS AND ELIGIBLITY REQUIRED BY REGULATIONS.</Explanation>
      </Form990ScheduleIPartIV>
      <Form990ScheduleIPartIV>
        <Explanation>MAINTAINS RECORDS TO SUBSTANTIATE GRANT AMOUNTS AND ELIGIBILITY AS REQUIRED BY REGULATIONS.</Explanation>
      </Form990ScheduleIPartIV>
    </IRS990ScheduleI>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 3</ReturnReference>
        <Explanation>SMITHBUCKLIN CORP., AN ASSOCIATION MANAGEMENT COMPANY, MANAGES ALL ASPECTS OF THE ORGANIZATION'S OPERATIONS IN ACCORDANCE WITH ORGANIZATION'S BYLAWS AND POLICIES. OPERATIONS MAY INCLUDE BUT ARE NOT LIMITED TO: ADMINISTRATION, MEMBERSHIP, FINANCE &amp; ACCOUNTING, CONVENTION/TRADESHOW/MEETING PLANNING, EDUCATION, MARKETING AND INFORMATION TECHNOLOGY &amp; GOVERNMENT RELATIONS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 6</ReturnReference>
        <Explanation>THE SOCIETY HAS MEMBERS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 7A</ReturnReference>
        <Explanation>THE MEMBERS ELECT THE BOARD.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 11</ReturnReference>
        <Explanation>PREPARED BY THE AUDITORS, REVIEWED BY ACCOUNTING, PRESENTED TO AE, SENT TO TREASURER FOR REVIEW AND SIGNATURE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 12C</ReturnReference>
        <Explanation>THE BOARD IS REQUIRED ANNUALLY TO DISCLOSE ANY CONFLICT OF INTEREST.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>UPON REQUEST.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>CHANGES IN NET ASSETS OR FUND BALANCES:</Identifier>
        <ReturnReference>FORM 990, PART XI, LINE 5:</ReturnReference>
        <Explanation>NET UNREALIZED LOSSES ON INVESTMENTS: -49,429.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART XII, LINE 2C</ReturnReference>
        <Explanation>THE PROCESS IS THE SAME AS THE PREVIOUS YEAR.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc1043400001">
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>ISTAT FOUNDATION</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>401 NORTH MICHIGAN AVE</AddressLine1>
          <City>CHICAGO</City>
          <State>IL</State>
          <ZIPCode>60611</ZIPCode>
        </AddressUS>
        <EIN>541742507</EIN>
        <PrimaryActivities>PROVIDE FUNDS FOR SCHOLARSHIPS, EDUCATIONAL PROGRAMS AND GRANTS TO QUALIFIED</PrimaryActivities>
        <LegalDomicileState>IL</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>170(B)(1)(A)(VI)</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>ISTAT</BusinessNameLine1>
        </DirectControllingEntityName>
        <ControlledOrg>0</ControlledOrg>
      </Form990ScheduleRPartII>
      <ReceiptOfIntAnnRentsRoyalties>0</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>1</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>0</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>0</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>0</LoansOrGuaranteesFromOtherOrg>
      <SaleOfAssetsToOtherOrg>0</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>0</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>0</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>0</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>0</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>0</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>0</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>0</SharingOfFacilities>
      <SharingOfPaidEmployees>0</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>0</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>0</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>0</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>0</OtherTransferFromOtherOrg>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>INTERNATIONAL SOCIETY OF TRANSPORT AIRCRAFT TRADING FOUNDATION</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>B</TransactionType>
        <AmountInvolved>268762</AmountInvolved>
        <MethodOfAmtDetermination>CASH</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
    </IRS990ScheduleR>
  </ReturnData>
</Return>