﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2025v4.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2026-05-04T13:03:01-04:00</ReturnTs>
    <TaxPeriodEndDt>2025-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>383133790</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>ANDREWS HOOPER PAVLIK PLC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>5300 GRATIOT RD</AddressLine1Txt>
        <CityNm>SAGINAW</CityNm>
        <StateAbbreviationCd>MI</StateAbbreviationCd>
        <ZIPCd>486386035</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2025-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>386065799</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>ELSA U PARDEE FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>ELSA</BusinessNameControlTxt>
      <PhoneNum>9898323691</PhoneNum>
      <USAddress>
        <AddressLine1Txt>PO BOX 2767</AddressLine1Txt>
        <CityNm>MIDLAND</CityNm>
        <StateAbbreviationCd>MI</StateAbbreviationCd>
        <ZIPCd>48641</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>WILLIAM C LAUDERBACH</PersonNm>
      <PersonTitleTxt>TREASURER</PersonTitleTxt>
      <PhoneNum>9898323691</PhoneNum>
      <SignatureDt>2026-04-12</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>KEVIN B HUNT</PreparerPersonNm>
      <PTIN>P01830636</PTIN>
      <PhoneNum>9894975300</PhoneNum>
      <PreparationDt>2026-04-12</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2025</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="15">
    <IRS990PF documentId="RetDoc17" referenceDocumentId="RetDoc16">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>103199636</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <DividendsRevAndExpnssAmt>2528882</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>2530615</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>4553413</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>46184019</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>4551337</CapGainNetIncmNetInvstIncmAmt>
        <IncmModificationsAdjNetIncmAmt>74472</IncmModificationsAdjNetIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="RetDoc12">5520</OtherIncomeRevAndExpnssAmt>
        <TotalRevAndExpnssAmt>7087815</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>7081952</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>74472</TotalAdjNetIncmAmt>
        <OthEmplSlrsWgsRevAndExpnssAmt>23267</OthEmplSlrsWgsRevAndExpnssAmt>
        <OthEmplSlrsWgsDsbrsChrtblAmt>23267</OthEmplSlrsWgsDsbrsChrtblAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="RetDoc8">580</LegalFeesRevAndExpnssAmt>
        <LegalFeesNetInvstIncmAmt>290</LegalFeesNetInvstIncmAmt>
        <LegalFeesDsbrsChrtblAmt>290</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2">86733</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>13511</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>73222</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc14">529477</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>529477</OtherProfFeesNetInvstIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc15">103698</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>10908</TaxesNetInvstIncmAmt>
        <TaxesDsbrsChrtblAmt>1790</TaxesDsbrsChrtblAmt>
        <OccupancyRevAndExpnssAmt>6000</OccupancyRevAndExpnssAmt>
        <OccupancyDsbrsChrtblAmt>6000</OccupancyDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc10">42256</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>1254</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>36748</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>792011</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>555440</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>141317</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>5090340</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>5090340</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>5882351</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>555440</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>5231657</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>1205464</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>6526512</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>74472</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>4879539</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>2754904</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>2754904</SavAndTempCashInvstEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>12295079</USGovernmentObligationsBOYAmt>
        <USGovernmentObligationsEOYAmt referenceDocumentId="RetDoc6">11676396</USGovernmentObligationsEOYAmt>
        <USGovtObligationsEOYFMVAmt>11727392</USGovtObligationsEOYFMVAmt>
        <CorporateStockBOYAmt>39548755</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc5">42322137</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>76794692</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>8901094</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="RetDoc4">10360456</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>10449264</CorporateBondsEOYFMVAmt>
        <OtherInvestmentsBOYAmt>1681139</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="RetDoc7">1447075</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>1455825</OtherInvestmentsEOYFMVAmt>
        <OtherAssetsEOYAmt referenceDocumentId="RetDoc9">17559</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt referenceDocumentId="RetDoc9">17559</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>67305606</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>68578527</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>103199636</TotalAssetsEOYFMVAmt>
        <GrantsPayableBOYAmt>750000</GrantsPayableBOYAmt>
        <GrantsPayableEOYAmt>80000</GrantsPayableEOYAmt>
        <OtherLiabilitiesBOYAmt referenceDocumentId="RetDoc13">7015</OtherLiabilitiesBOYAmt>
        <TotalLiabilitiesBOYAmt>757015</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>80000</TotalLiabilitiesEOYAmt>
        <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
        <NoDonorRstrNetAssestsBOYAmt>66548591</NoDonorRstrNetAssestsBOYAmt>
        <NoDonorRstrNetAssestsEOYAmt>68498527</NoDonorRstrNetAssestsEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>66548591</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>68498527</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>67305606</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>68578527</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>66548591</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>1205464</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="RetDoc11">744472</OtherIncreasesAmt>
        <SubtotalAmt>68498527</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>68498527</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>PUBLICLY TRADED SECURITIES</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>46184019</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>41630606</CostOrOtherBasisAmt>
          <GainOrLossAmt>4553413</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>4553413</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>K-1S</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <CostOrOtherBasisAmt>2076</CostOrOtherBasisAmt>
          <GainOrLossAmt>-2076</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-2076</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>4551337</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>90719</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>90719</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>90719</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>110000</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>110000</TotalPaymentsAndCreditsAmt>
        <Form2220AttachedInd referenceDocumentId="RetDoc1">X</Form2220AttachedInd>
        <OverpaymentAmt>19281</OverpaymentAmt>
        <AppliedToESTaxAmt>19281</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>true</UnrelatedBusIncmOverLimitInd>
        <Form990TFiledInd>true</Form990TFiledInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>MI</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>WWW.PARDEEFOUNDATION.ORG</WebsiteAddressTxt>
        <IndividualWithBooksNm>JULIE FOYE</IndividualWithBooksNm>
        <PhoneNum>9898323691</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>812 W MAIN</AddressLine1Txt>
          <CityNm>MIDLAND</CityNm>
          <StateAbbreviationCd>MI</StateAbbreviationCd>
          <ZIPCd>48640</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>false</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>GAIL E LANPHEAR</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 2767</AddressLine1Txt>
            <CityNm>MIDLAND</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>48641</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.77</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>LAURIE G BOUWMAN</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 2767</AddressLine1Txt>
            <CityNm>MIDLAND</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>48641</ZIPCd>
          </USAddress>
          <TitleTxt>SECRETARY</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.77</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>LISA J GERSTACKER</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 2767</AddressLine1Txt>
            <CityNm>MIDLAND</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>48641</ZIPCd>
          </USAddress>
          <TitleTxt>VP/A TREAS</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.29</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>WILLIAM C LAUDERBACH</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 2767</AddressLine1Txt>
            <CityNm>MIDLAND</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>48641</ZIPCd>
          </USAddress>
          <TitleTxt>TREASURER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.35</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MARY M NEELY</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 2767</AddressLine1Txt>
            <CityNm>MIDLAND</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>48641</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR EME</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>WILLIAM D SCHUETTE</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 2767</AddressLine1Txt>
            <CityNm>MIDLAND</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>48641</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.38</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MICHAEL WOOLHISER</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 2767</AddressLine1Txt>
            <CityNm>MIDLAND</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>48641</ZIPCd>
          </USAddress>
          <TitleTxt>VICE PRESIDE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.35</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>HEIDI SCHUETTE</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 2767</AddressLine1Txt>
            <CityNm>MIDLAND</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>48641</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.38</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ANDREAS TEICH</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 2767</AddressLine1Txt>
            <CityNm>MIDLAND</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>48641</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.38</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName referenceDocumentId="RetDoc3">
            <BusinessNameLine1Txt>WELLS FARGO</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>80 STATE STREET</AddressLine1Txt>
            <CityNm>ALBANY</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>12207</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>INVEST. SERVICE</ServiceTypeTxt>
          <CompensationAmt>331445</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName referenceDocumentId="RetDoc3">
            <BusinessNameLine1Txt>WILLIAM BLAIR</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>222 WEST ADAMS STREET</AddressLine1Txt>
            <CityNm>CHICAGO</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>60606</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>INVEST. SERVICE</ServiceTypeTxt>
          <CompensationAmt>126250</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName referenceDocumentId="RetDoc3">
            <BusinessNameLine1Txt>CAPITAL GUARDIAN TRUST CO</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>333 S HOPE STREET 53RD FLOOR</AddressLine1Txt>
            <CityNm>LOS ANGELES</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90071</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>INVEST. SERVICE</ServiceTypeTxt>
          <CompensationAmt>68616</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>N/A</Description1Txt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>101646630</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>171025</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>1351</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>101819006</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>101819006</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>1527285</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>100291721</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>5014586</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>5014586</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>90719</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>90719</TotalTaxAmt>
        <DistributableBeforeAdjAmt>4923867</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>74472</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>4998339</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>4998339</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>5231657</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>5231657</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>4998339</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>4812551</UndistributedIncomePYAmt>
        <QualifyingDistributionsAmt>5231657</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>4812551</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>419106</AppliedToCurrentYearAmt>
        <UndistributedIncomeCYAmt>4579233</UndistributedIncomeCYAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>ELSA U PARDEE FOUNDATION</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>ATTN JULIE FOYE</AddressLine1Txt>
            <AddressLine2Txt>812 W MAIN</AddressLine2Txt>
            <CityNm>MIDLAND</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>48640</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>9898323691</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>REQUESTS FOR FUNDS SHOULD BE SUBMITTED ELECTRONICALLY THROUGH PARDEEFOUNDATION.ORG. ADDITIONAL REQUIRED INFORMATION IS DISCLOSED ON THE WEBSITE.</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>SUBMISSION DEADLINES ARE DISCLOSED ANNUALLY ON THE WEBSITE.</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>GRANTS ARE LIMITED GENERALLY TO THE CURE AND CONTROL OF CANCER IN THE UNITED STATES. THE FOUNDATION PARTICULARLY WELCOMES INNOVATIVE, SMALL-SCALE, SHORT-TERM PROJECTS WHICH MAY BE DIFFICULT TO FUND ELSEWHERE. THE FOUNDATION GENERALLY DOES NOT FUND BUILDINGS, SCHOLARSHIPS, FUND-RAISING OR EQUIPMENT (OTHER THAN EQUIPMENT USED IN A SPECIFIC PROJECT).</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SEE ATTACHED</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 2767</AddressLine1Txt>
            <CityNm>MIDLAND</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>48641</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>VARIOUS</GrantOrContributionPurposeTxt>
          <Amt>5090340</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>5090340</TotalGrantOrContriPdDurYrAmt>
        <GrantOrContriApprvForFutGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MYMICHIGAN HEALTH FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>4000 WELLNESS DRIVE</AddressLine1Txt>
            <CityNm>MIDLAND</CityNm>
            <StateAbbreviationCd>MI</StateAbbreviationCd>
            <ZIPCd>48670</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>PC</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>TUMOR REGISTRY &amp; 2026 SEMINAR</GrantOrContributionPurposeTxt>
          <Amt>80000</Amt>
        </GrantOrContriApprvForFutGrp>
        <TotalGrantOrContriApprvFutAmt>80000</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>2530615</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>4551337</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <OtherRevenueDescribedGrp>
          <Desc>ALLIANCE BERNSTEIN HOLDING</Desc>
          <BusinessCd>900099</BusinessCd>
          <UnrelatedBusinessTaxblIncmAmt>5520</UnrelatedBusinessTaxblIncmAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>5520</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>7081952</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>7087472</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="RetDoc2">
      <AccountingFeesDetail>
        <CategoryTxt>ANDREWS HOOPER PAVLIK</CategoryTxt>
        <Amt>40533</Amt>
        <NetInvestmentIncomeAmt>13511</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>27022</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
      <AccountingFeesDetail>
        <CategoryTxt>YEO &amp; YEO</CategoryTxt>
        <Amt>46200</Amt>
        <DisbursementsCharitablePrpsAmt>46200</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <ContractorCompensationExpln documentId="RetDoc3">
      <ContractorCompExplnGrp>
        <ContractorBusinessName>
          <BusinessNameLine1Txt>WELLS FARGO</BusinessNameLine1Txt>
        </ContractorBusinessName>
        <ExplanationTxt>INVESTMENT MANAGEMENT FEES</ExplanationTxt>
      </ContractorCompExplnGrp>
      <ContractorCompExplnGrp>
        <ContractorBusinessName>
          <BusinessNameLine1Txt>WILLIAM BLAIR</BusinessNameLine1Txt>
        </ContractorBusinessName>
        <ExplanationTxt>INVESTMENT MANAGEMENT FEES</ExplanationTxt>
      </ContractorCompExplnGrp>
      <ContractorCompExplnGrp>
        <ContractorBusinessName>
          <BusinessNameLine1Txt>CAPITAL GUARDIAN TRUST CO</BusinessNameLine1Txt>
        </ContractorBusinessName>
        <ExplanationTxt>INVESTMENT MANAGEMENT FEES</ExplanationTxt>
      </ContractorCompExplnGrp>
    </ContractorCompensationExpln>
    <InvestmentsCorpBondsSchedule documentId="RetDoc4">
      <InvestmentsCorporateBondsGrp>
        <BondNm>SEE ATTACHED STATEMENTS</BondNm>
        <EOYBookValueAmt>10360456</EOYBookValueAmt>
        <EOYFMVAmt>10449264</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc5">
      <InvestmentsCorporateStockGrp>
        <StockNm>SEE ATTACHED STATEMENTS</StockNm>
        <EOYBookValueAmt>42322137</EOYBookValueAmt>
        <EOYFMVAmt>76794692</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsGovtObligationsSch documentId="RetDoc6">
      <USGovtObligationsBookVlEOYAmt>11676396</USGovtObligationsBookVlEOYAmt>
      <USGovtObligationsEOYFMVAmt>11727392</USGovtObligationsEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <InvestmentsOtherSchedule2 documentId="RetDoc7">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>BROOKFIELD PROPERTY LP SERIES B</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>ENTERPRISE PRODUCTS PARTNERS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>14425</BookValueAmt>
        <EOYFMVAmt>14425</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>ALLIANCE BERNSTEIN HOLDING LP</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>82650</BookValueAmt>
        <EOYFMVAmt>82650</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>MUTUAL FUNDS - SEE ATTACHED</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>1350000</BookValueAmt>
        <EOYFMVAmt>1358750</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LegalFeesSchedule documentId="RetDoc8">
      <LegalFeesGrp>
        <CategoryTxt>LEGAL FEES</CategoryTxt>
        <LegalFeesAmt>580</LegalFeesAmt>
        <NetInvestmentIncomeAmt>290</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>290</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherAssetsSchedule documentId="RetDoc9">
      <OtherAssetsScheduleGrp>
        <Desc>FEDERAL EXCISE TAX RECEIVABLE</Desc>
        <EOYBookValueAmt>17559</EOYBookValueAmt>
        <EOYFMVAmt>17559</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="RetDoc10">
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MISC EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>16966</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>16966</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>5432</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>5432</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>LOSS FROM K-1S PER BOOKS</Desc>
        <RevenueAndExpensesPerBooksAmt>5508</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>1254</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ADMINISTRATIVE EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>14350</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>14350</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc12">
      <OtherIncomeDetail>
        <Desc>ALLIANCE BERNSTEIN HOLDING LP</Desc>
        <RevenueAndExpensesPerBooksAmt>5520</RevenueAndExpensesPerBooksAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherIncreasesSchedule documentId="RetDoc11">
      <OtherIncreasesDetail>
        <Desc>GRANT FUNDS RETURNED</Desc>
        <Amt>74472</Amt>
      </OtherIncreasesDetail>
      <OtherIncreasesDetail>
        <Desc>CHANGE IN GRANTS PAYABLE</Desc>
        <Amt>670000</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherLiabilitiesSchedule documentId="RetDoc13">
      <OtherLiabilitiesDetail>
        <Desc>FEDERAL EXCISE TAX PAYABLE</Desc>
        <BOYBookValueAmt>7015</BOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc14">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>CAPITAL GUARDIAN TRUST CO</CategoryTxt>
        <Amt>68616</Amt>
        <NetInvestmentIncomeAmt>68616</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>WELLS FARGO</CategoryTxt>
        <Amt>331445</Amt>
        <NetInvestmentIncomeAmt>331445</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>WILLIAM BLAIR</CategoryTxt>
        <Amt>126250</Amt>
        <NetInvestmentIncomeAmt>126250</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>HUNTINGTON BANK</CategoryTxt>
        <Amt>3166</Amt>
        <NetInvestmentIncomeAmt>3166</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc15">
      <TaxesDetail>
        <CategoryTxt>EXCISE TAXES</CategoryTxt>
        <Amt>91000</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES</CategoryTxt>
        <Amt>10908</Amt>
        <NetInvestmentIncomeAmt>10908</NetInvestmentIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>PAYROLL TAXES</CategoryTxt>
        <Amt>1790</Amt>
        <DisbursementsCharitablePrpsAmt>1790</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>