<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2020v4.1">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2021-12-01T15:55:25-06:00</ReturnTs>
    <TaxPeriodEndDt>2020-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>200472826</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>BOECKERMANN GRAFSTROM &amp; MAYER LLC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>4470 W 78TH ST CIRCLE STE 200</AddressLine1Txt>
        <CityNm>BLOOMINGTON</CityNm>
        <StateAbbreviationCd>MN</StateAbbreviationCd>
        <ZIPCd>554355416</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2020-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>200472176</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>LENZMEIER FAMILY FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>LENZ</BusinessNameControlTxt>
      <PhoneNum>6123275944</PhoneNum>
      <USAddress>
        <AddressLine1Txt>750 S 2ND STREET NO 802</AddressLine1Txt>
        <CityNm>MINNEAPOLIS</CityNm>
        <StateAbbreviationCd>MN</StateAbbreviationCd>
        <ZIPCd>55401</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>ALLEN LENZMEIER</PersonNm>
      <PersonTitleTxt>PRESIDENT</PersonTitleTxt>
      <PhoneNum>6123275944</PhoneNum>
      <SignatureDt>2021-12-01</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <SigningOfficerGrp>
      <PersonFullName>
        <PersonFirstNm>ALLEN</PersonFirstNm>
        <PersonLastNm>LENZMEIER</PersonLastNm>
      </PersonFullName>
      <SSN>XXX-XX-XXXX</SSN>
    </SigningOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>MARK COSSETTE</PreparerPersonNm>
      <PTIN>P00096275</PTIN>
      <PhoneNum>9528442500</PhoneNum>
      <PreparationDt>2021-12-01</PreparationDt>
    </PreparerPersonGrp>
    <AdditionalFilerInformation>
      <TrustedCustomerGrp>
        <TrustedCustomerCd>3</TrustedCustomerCd>
        <AuthenticationAssuranceLevelCd>AAL1</AuthenticationAssuranceLevelCd>
        <IdentityAssuranceLevelCd>IAL1</IdentityAssuranceLevelCd>
      </TrustedCustomerGrp>
    </AdditionalFilerInformation>
    <TaxYr>2020</TaxYr>
    <BuildTS>2022-09-23 18:48:47Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="10">
    <IRS990PF documentId="RetDoc1235000001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>39698668</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>1095814</ContriRcvdRevAndExpnssAmt>
        <DividendsRevAndExpnssAmt>65628</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>51973</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>2869532</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>11331572</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>2869532</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="RetDoc2001500001">141908</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>-794</OtherIncomeNetInvstIncmAmt>
        <OtherIncomeAdjNetIncmAmt>0</OtherIncomeAdjNetIncmAmt>
        <TotalRevAndExpnssAmt>4172882</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>2920711</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>0</TotalAdjNetIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>0</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>0</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstAdjNetIncmAmt>0</CompOfcrDirTrstAdjNetIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>0</CompOfcrDirTrstDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002200001">4980</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>0</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesAdjNetIncmAmt>0</AccountingFeesAdjNetIncmAmt>
        <AccountingFeesChrtblPrpsAmt>4980</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc2002300001">202956</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>121824</OtherProfFeesNetInvstIncmAmt>
        <OtherProfFeesAdjNetIncmAmt>0</OtherProfFeesAdjNetIncmAmt>
        <OtherProfFeesDsbrsChrtblAmt>81132</OtherProfFeesDsbrsChrtblAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc2002500001">67730</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>0</TaxesNetInvstIncmAmt>
        <TaxesAdjNetIncmAmt>0</TaxesAdjNetIncmAmt>
        <TaxesDsbrsChrtblAmt>25</TaxesDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc2003200001">6164</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>15829</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesAdjNetIncmAmt>0</OtherExpensesAdjNetIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>0</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>281830</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>137653</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>0</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>86137</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>1413300</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>1413300</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>1695130</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>137653</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>0</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>1499437</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>2477752</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>2783058</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>2570101</CashBOYAmt>
        <CashEOYAmt>2359543</CashEOYAmt>
        <CashEOYFMVAmt>2359543</CashEOYFMVAmt>
        <CorporateStockBOYAmt>7888007</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc2018900001">8153486</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>21136669</CorporateStockEOYFMVAmt>
        <OtherInvestmentsBOYAmt>11256973</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="RetDoc2018100001">12586050</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>16202456</OtherInvestmentsEOYFMVAmt>
        <TotalAssetsBOYAmt>21715081</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>23099079</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>39698668</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesBOYAmt>0</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>16903321</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>16903321</CapitalStockEOYAmt>
        <AdditionalPaidInCapitalBOYAmt>0</AdditionalPaidInCapitalBOYAmt>
        <AdditionalPaidInCapitalEOYAmt>0</AdditionalPaidInCapitalEOYAmt>
        <RetainedEarningBOYAmt>4811760</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>6195758</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>21715081</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>23099079</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>21715081</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>23099079</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>21715081</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>2477752</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt>0</OtherIncreasesAmt>
        <SubtotalAmt>24192833</SubtotalAmt>
        <OtherDecreasesAmt referenceDocumentId="RetDoc2049800001">1093754</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>23099079</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>ISHARES TR 1-3 YR</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-01-29</AcquiredDt>
          <SoldDt>2020-04-09</SoldDt>
          <GrossSalesPriceAmt>64962</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>63721</CostOrOtherBasisAmt>
          <GainOrLossAmt>1241</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>1241</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BEST BUY INC COM</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>1994-04-28</AcquiredDt>
          <SoldDt>2020-07-30</SoldDt>
          <GrossSalesPriceAmt>1254752</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>2125</CostOrOtherBasisAmt>
          <GainOrLossAmt>1252627</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>1252627</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BANK OF AMERICA CORPORATION</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-03-13</AcquiredDt>
          <SoldDt>2020-04-01</SoldDt>
          <GrossSalesPriceAmt>49582</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>55873</CostOrOtherBasisAmt>
          <GainOrLossAmt>-6291</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-6291</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BRISTOL MYERS SQUIBB CO COM</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-03-13</AcquiredDt>
          <SoldDt>2020-10-28</SoldDt>
          <GrossSalesPriceAmt>224818</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>207525</CostOrOtherBasisAmt>
          <GainOrLossAmt>17293</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>17293</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>DOUBLELINE LOW DURAT ION</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2019-03-21</AcquiredDt>
          <SoldDt>2020-03-12</SoldDt>
          <GrossSalesPriceAmt>393939</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>400000</CostOrOtherBasisAmt>
          <GainOrLossAmt>-6061</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-6061</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>DOUBLELINE FLEXIBLE INCOME FUND</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2019-11-05</AcquiredDt>
          <SoldDt>2020-03-16</SoldDt>
          <GrossSalesPriceAmt>473826</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>500000</CostOrOtherBasisAmt>
          <GainOrLossAmt>-26174</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-26174</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>FIFTH THIRD BANCORP COM</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2019-11-05</AcquiredDt>
          <SoldDt>2020-02-26</SoldDt>
          <GrossSalesPriceAmt>107598</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>121739</CostOrOtherBasisAmt>
          <GainOrLossAmt>-14141</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-14141</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>GILEAD SCIENCES INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-08-20</AcquiredDt>
          <SoldDt>2020-10-28</SoldDt>
          <GrossSalesPriceAmt>116786</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>131556</CostOrOtherBasisAmt>
          <GainOrLossAmt>-14770</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-14770</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>HUMANA INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-08-05</AcquiredDt>
          <SoldDt>2020-10-28</SoldDt>
          <GrossSalesPriceAmt>105017</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>100020</CostOrOtherBasisAmt>
          <GainOrLossAmt>4997</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>4997</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>JOHNSON &amp; JOHNSON</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-08-05</AcquiredDt>
          <SoldDt>2020-10-28</SoldDt>
          <GrossSalesPriceAmt>208725</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>224728</CostOrOtherBasisAmt>
          <GainOrLossAmt>-16003</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-16003</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>KEYCORP NEW COM</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2019-11-05</AcquiredDt>
          <SoldDt>2020-02-26</SoldDt>
          <GrossSalesPriceAmt>177632</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>192700</CostOrOtherBasisAmt>
          <GainOrLossAmt>-15068</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-15068</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>MERCK &amp; CO INC NEW COM</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-03-13</AcquiredDt>
          <SoldDt>2020-10-28</SoldDt>
          <GrossSalesPriceAmt>248360</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>263807</CostOrOtherBasisAmt>
          <GainOrLossAmt>-15447</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-15447</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>PROSHARES TR SHORT</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-03-27</AcquiredDt>
          <SoldDt>2020-07-06</SoldDt>
          <GrossSalesPriceAmt>544863</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>692964</CostOrOtherBasisAmt>
          <GainOrLossAmt>-148101</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-148101</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>RAYTHEON TECHNOLOGIES</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-03-13</AcquiredDt>
          <SoldDt>2020-08-05</SoldDt>
          <GrossSalesPriceAmt>69048</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>72349</CostOrOtherBasisAmt>
          <GainOrLossAmt>-3301</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-3301</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>TJIX COS INC NEW COM</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-03-13</AcquiredDt>
          <SoldDt>2020-09-17</SoldDt>
          <GrossSalesPriceAmt>55823</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>49807</CostOrOtherBasisAmt>
          <GainOrLossAmt>6016</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>6016</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>3M CO COM</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-03-13</AcquiredDt>
          <SoldDt>2020-08-20</SoldDt>
          <GrossSalesPriceAmt>24456</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>20246</CostOrOtherBasisAmt>
          <GainOrLossAmt>4210</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>4210</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>VISA INC COM</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2019-11-05</AcquiredDt>
          <SoldDt>2020-02-26</SoldDt>
          <GrossSalesPriceAmt>192496</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>175998</CostOrOtherBasisAmt>
          <GainOrLossAmt>16498</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>16498</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>AMERICAN INTL GROUP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2013-10-25</AcquiredDt>
          <SoldDt>2020-05-05</SoldDt>
          <GrossSalesPriceAmt>139188</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>214698</CostOrOtherBasisAmt>
          <GainOrLossAmt>-75510</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-75510</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BIOGEN IDEC INC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2018-05-30</AcquiredDt>
          <SoldDt>2020-10-28</SoldDt>
          <GrossSalesPriceAmt>216105</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>255486</CostOrOtherBasisAmt>
          <GainOrLossAmt>-39381</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-39381</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CDW CORP COM</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2019-03-21</AcquiredDt>
          <SoldDt>2020-04-22</SoldDt>
          <GrossSalesPriceAmt>203396</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>197541</CostOrOtherBasisAmt>
          <GainOrLossAmt>5855</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>5855</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CVS HEALTH CORP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2019-01-31</AcquiredDt>
          <SoldDt>2020-02-26</SoldDt>
          <GrossSalesPriceAmt>284127</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>292401</CostOrOtherBasisAmt>
          <GainOrLossAmt>-8274</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-8274</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CISCO SYSTEMS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2016-12-16</AcquiredDt>
          <SoldDt>2020-11-02</SoldDt>
          <GrossSalesPriceAmt>467538</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>287482</CostOrOtherBasisAmt>
          <GainOrLossAmt>180056</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>180056</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>DELTA AIRLINES</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2015-02-19</AcquiredDt>
          <SoldDt>2020-02-26</SoldDt>
          <GrossSalesPriceAmt>200832</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>181548</CostOrOtherBasisAmt>
          <GainOrLossAmt>19284</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>19284</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>FIRST EAGLE GLOBAL</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2014-01-16</AcquiredDt>
          <SoldDt>2020-02-26</SoldDt>
          <GrossSalesPriceAmt>463835</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>437787</CostOrOtherBasisAmt>
          <GainOrLossAmt>26048</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>26048</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>HONEYWELL INTL</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2016-03-18</AcquiredDt>
          <SoldDt>2020-08-20</SoldDt>
          <GrossSalesPriceAmt>259826</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>200286</CostOrOtherBasisAmt>
          <GainOrLossAmt>59540</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>59540</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>INVESCO EXCHANGE</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2013-10-25</AcquiredDt>
          <SoldDt>2020-11-02</SoldDt>
          <GrossSalesPriceAmt>239915</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>75443</CostOrOtherBasisAmt>
          <GainOrLossAmt>164472</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>164472</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>LOCKHEED MARTIN CORP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2015-02-19</AcquiredDt>
          <SoldDt>2020-08-20</SoldDt>
          <GrossSalesPriceAmt>366309</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>169420</CostOrOtherBasisAmt>
          <GainOrLossAmt>196889</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>196889</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>MARATHON PETE CORP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2019-01-31</AcquiredDt>
          <SoldDt>2020-02-26</SoldDt>
          <GrossSalesPriceAmt>230847</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>293615</CostOrOtherBasisAmt>
          <GainOrLossAmt>-62768</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-62768</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>MICRON TECHNOLOGY</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2019-01-25</AcquiredDt>
          <SoldDt>2020-08-20</SoldDt>
          <GrossSalesPriceAmt>394420</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>358360</CostOrOtherBasisAmt>
          <GainOrLossAmt>36060</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>36060</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>ORACLE CORP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2012-02-13</AcquiredDt>
          <SoldDt>2020-11-02</SoldDt>
          <GrossSalesPriceAmt>434953</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>242531</CostOrOtherBasisAmt>
          <GainOrLossAmt>192422</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>192422</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>RAYTHEON TECHNOLOGIES</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2016-03-18</AcquiredDt>
          <SoldDt>2020-08-20</SoldDt>
          <GrossSalesPriceAmt>206119</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>182388</CostOrOtherBasisAmt>
          <GainOrLossAmt>23731</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>23731</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>RIO TINTO PLC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2018-06-27</AcquiredDt>
          <SoldDt>2020-02-26</SoldDt>
          <GrossSalesPriceAmt>238876</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>271877</CostOrOtherBasisAmt>
          <GainOrLossAmt>-33001</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-33001</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>SELECT SECTOR SPDR TR FINANCIAL</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2013-10-25</AcquiredDt>
          <SoldDt>2020-04-20</SoldDt>
          <GrossSalesPriceAmt>400175</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>237488</CostOrOtherBasisAmt>
          <GainOrLossAmt>162687</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>162687</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>3M CO COM</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2013-06-07</AcquiredDt>
          <SoldDt>2020-08-20</SoldDt>
          <GrossSalesPriceAmt>237820</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>202493</CostOrOtherBasisAmt>
          <GainOrLossAmt>35327</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>35327</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>UNITED HEALTH GROUP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2018-02-06</AcquiredDt>
          <SoldDt>2020-11-02</SoldDt>
          <GrossSalesPriceAmt>459959</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>186812</CostOrOtherBasisAmt>
          <GainOrLossAmt>273147</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>273147</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>VANGUARD INDEX FDS V</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2018-06-27</AcquiredDt>
          <SoldDt>2020-04-01</SoldDt>
          <GrossSalesPriceAmt>600646</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>566782</CostOrOtherBasisAmt>
          <GainOrLossAmt>33864</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>33864</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>FIRST EAGLE GLOBAL</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2001-06-21</AcquiredDt>
          <SoldDt>2020-02-26</SoldDt>
          <GrossSalesPriceAmt>332263</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>249311</CostOrOtherBasisAmt>
          <GainOrLossAmt>82952</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>82952</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>GSBD RESTRICTED</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-01-01</AcquiredDt>
          <SoldDt>2020-10-16</SoldDt>
          <GrossSalesPriceAmt>2</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>3</CostOrOtherBasisAmt>
          <GainOrLossAmt>-1</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-1</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>INVESCO EXCHANGE</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2012-02-13</AcquiredDt>
          <SoldDt>2020-04-06</SoldDt>
          <GrossSalesPriceAmt>95844</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>75024</CostOrOtherBasisAmt>
          <GainOrLossAmt>20820</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>20820</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>FUNDEMENTAL K-1</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-06-30</AcquiredDt>
          <SoldDt>2020-06-30</SoldDt>
          <CostOrOtherBasisAmt>8106</CostOrOtherBasisAmt>
          <GainOrLossAmt>-8106</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-8106</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAINS DIVIDENDS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>545894</GrossSalesPriceAmt>
          <GainOrLossAmt>545894</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>545894</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>2869532</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>38685</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>38685</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>38685</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>33200</EstimatedPlusOvpmtIncmTxAmt>
        <ExemptFrgnOrgTaxWthldAtSrceAmt>0</ExemptFrgnOrgTaxWthldAtSrceAmt>
        <ExtsnRequestIncomeTaxPaidAmt>0</ExtsnRequestIncomeTaxPaidAmt>
        <BackupWithholdingWithheldAmt>0</BackupWithholdingWithheldAmt>
        <TotalPaymentsAndCreditsAmt>33200</TotalPaymentsAndCreditsAmt>
        <EsPenaltyAmt>0</EsPenaltyAmt>
        <TaxDueAmt>5485</TaxDueAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>0</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>0</MoreThan100SpentInd>
        <Form1120POLFiledInd>0</Form1120POLFiledInd>
        <Section4955OrganizationTaxAmt>0</Section4955OrganizationTaxAmt>
        <Section4955ManagersTaxAmt>0</Section4955ManagersTaxAmt>
        <TaxReimbursedAmt>0</TaxReimbursedAmt>
        <ActivitiesNotPreviouslyRptInd>0</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>0</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>0</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>0</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>1</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>1</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>MN</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>1</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>0</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>0</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>0</OwnControlledEntityInd>
        <DonorAdvisedFundInd>0</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>1</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>ALLEN KATHLEEN LENZMEIER</IndividualWithBooksNm>
        <PhoneNum>6123454074</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>750 S 2ND STREET 802</AddressLine1Txt>
          <CityNm>MINNEAPOLIS</CityNm>
          <StateAbbreviationCd>MN</StateAbbreviationCd>
          <ZIPCd>55401</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>0</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>0</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>0</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>0</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>0</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>0</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>0</PaymentToGovernmentOfficialInd>
        <UncorrectedPriorActsInd>0</UncorrectedPriorActsInd>
        <UndistributedIncomePYInd>0</UndistributedIncomePYInd>
        <BusinessHoldingsInd>0</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>0</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>0</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>0</InfluenceLegislationInd>
        <InfluenceElectionInd>0</InfluenceElectionInd>
        <GrantsToIndividualsInd>0</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>0</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>0</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>0</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>0</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>0</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ALLEN LENZMEIER</PersonNm>
          <USAddress>
            <AddressLine1Txt>750 S 2ND STREET 802</AddressLine1Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55401</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>KATHLEEN LENZMEIER</PersonNm>
          <USAddress>
            <AddressLine1Txt>750 S 2ND STREET 802</AddressLine1Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55401</ZIPCd>
          </USAddress>
          <TitleTxt>SECRETARY/TRESURER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <TotalAmt>0</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>32252565</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>2507193</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>34759758</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>34759758</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>521396</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>34238362</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>1711918</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>1711918</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>38685</TaxBasedOnInvestmentIncomeAmt>
        <IncomeTaxAmt>4499</IncomeTaxAmt>
        <TotalTaxAmt>43184</TotalTaxAmt>
        <DistributableBeforeAdjAmt>1668734</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>0</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>1668734</DistributableBeforeDedAmt>
        <DeductionFromDistributableAmt>0</DeductionFromDistributableAmt>
        <DistributableAsAdjustedAmt>1668734</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>1499437</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>1499437</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>0</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>1499437</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>1668734</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>1316505</UndistributedIncomePYAmt>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <TotalExcessDistributionCyovAmt>0</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>1499437</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>1316505</AppliedToYear1Amt>
        <AppliedToPriorYearsAmt>0</AppliedToPriorYearsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>182932</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>0</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>0</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>0</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>0</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <PriorYearDeficiencyOrTaxAmt>0</PriorYearDeficiencyOrTaxAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>1485802</UndistributedIncomeCYAmt>
        <CorpusDistri170b1EOr4942g3Amt>0</CorpusDistri170b1EOr4942g3Amt>
        <ExcessDistriCyovFromYr5Amt>0</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>0</ExcessDistriCyovToNextYrAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>ALLEN LENZMEIER</ContributingManagerNm>
        <ContributingManagerNm>KATHLEEN LENZMEIER</ContributingManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ASCENSION CATHOLIC SCHOOL</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1726 DUPONT AVE N</AddressLine1Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55411</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING</GrantOrContributionPurposeTxt>
          <Amt>40000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>BOYS AND GIRLS CLUB OF THE TWIN CITIES</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>6500 NICOLLET AVE STE 201</AddressLine1Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>554231674</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING</GrantOrContributionPurposeTxt>
          <Amt>317300</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CATHOLIC CHARITIES OF THE ARCHDIOCESE OF ST PAUL &amp; MPLS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1200 2ND AVE S</AddressLine1Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>554032513</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING</GrantOrContributionPurposeTxt>
          <Amt>160000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>NORTHSIDE ACHIEVEMENT ZONE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2123 WEST BROADWAY AVENUE 100</AddressLine1Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55411</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING</GrantOrContributionPurposeTxt>
          <Amt>135000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>PACER CENTER INC</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>8161 NORMANDALE BLVD</AddressLine1Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>554371044</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING</GrantOrContributionPurposeTxt>
          <Amt>30000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE ADVOCATES FOR HUMAN RIGHTS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>650 3RD AVE S STE 1240</AddressLine1Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>554021947</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING</GrantOrContributionPurposeTxt>
          <Amt>60000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MAYO FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>200 1ST ST SW</AddressLine1Txt>
            <CityNm>ROCHESTER</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55902</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING</GrantOrContributionPurposeTxt>
          <Amt>100000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>RISEN CHRIST</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1120 E 37TH ST</AddressLine1Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55407</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING</GrantOrContributionPurposeTxt>
          <Amt>40000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>TWIN CITIES RISE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1301 N BRYANT AVE</AddressLine1Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55411</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING</GrantOrContributionPurposeTxt>
          <Amt>155000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ALIGHT</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>615 1ST AVE NE 500</AddressLine1Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55413</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>POSSIBLE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>405 FIRST ST SE</AddressLine1Txt>
            <CityNm>LITTLE FALLS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>56345</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>FISTULA FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1922 THE ALAMEDA STE 302</AddressLine1Txt>
            <CityNm>SAN JOSE</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>95126</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>VOQUG OUTBOUND</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1400 ENERGY PARK DR 18</AddressLine1Txt>
            <CityNm>ST PAUL</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55108</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MINNEAPOLIS PARKS FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>4800 MINNEHAHA AVE</AddressLine1Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55417</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING</GrantOrContributionPurposeTxt>
          <Amt>125000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>GUTH FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 1802</AddressLine1Txt>
            <CityNm>PROVIDENCE</CityNm>
            <StateAbbreviationCd>RI</StateAbbreviationCd>
            <ZIPCd>02901</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MINNESOTA STATE UNIVERSITY FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>224 ALUMNI FOUNDATION</AddressLine1Txt>
            <CityNm>MANKATO</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>56001</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING</GrantOrContributionPurposeTxt>
          <Amt>31000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>WASHBURN CENTER FOR CHILDREN</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1100 GLENWOOD AVE</AddressLine1Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55405</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING</GrantOrContributionPurposeTxt>
          <Amt>125000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>WOLF RIDGE ENVIRONMENTAL LEARNING</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>6282 CRANBERRY RD</AddressLine1Txt>
            <CityNm>FINLAND</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55603</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATING</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>1413300</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>65628</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <OtherInvestmentIncmPartVIIGrp>
          <BusinessCd>525990</BusinessCd>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>141908</ExclusionAmt>
        </OtherInvestmentIncmPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>2869532</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>3077068</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>0</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>3077068</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>0</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>0</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>0</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>0</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>0</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>0</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>0</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>0</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>0</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>0</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorPersonNm>ALLEN AND KATHLEEN LENZMEIER</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>750 S 2ND STREET APT 802</AddressLine1Txt>
          <CityNm>MINNEAPOLIS</CityNm>
          <StateAbbreviationCd>MN</StateAbbreviationCd>
          <ZIPCd>55401</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>667840</TotalContributionsAmt>
        <NoncashContributionInd>X</NoncashContributionInd>
      </ContributorInformationGrp>
      <ContributorInformationGrp>
        <ContributorNum>2</ContributorNum>
        <ContributorPersonNm>ALLEN AND KATHLEEN LENZMEIER</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>750 S 2ND STREET APT 802</AddressLine1Txt>
          <CityNm>MINNEAPOLIS</CityNm>
          <StateAbbreviationCd>MN</StateAbbreviationCd>
          <ZIPCd>55401</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>427974</TotalContributionsAmt>
        <NoncashContributionInd>X</NoncashContributionInd>
      </ContributorInformationGrp>
      <NonCashPropertyContributionGrp>
        <ContributorNum>1</ContributorNum>
        <NoncashPropertyDesc>8,000 SHARES OF BEST BUY STOCK</NoncashPropertyDesc>
        <FairMarketValueAmt>667840</FairMarketValueAmt>
        <ReceivedDt>2020-05-19</ReceivedDt>
      </NonCashPropertyContributionGrp>
      <NonCashPropertyContributionGrp>
        <ContributorNum>2</ContributorNum>
        <NoncashPropertyDesc>4,110 SHARES OF BEST BUY STOCK</NoncashPropertyDesc>
        <FairMarketValueAmt>427974</FairMarketValueAmt>
        <ReceivedDt>2020-05-19</ReceivedDt>
      </NonCashPropertyContributionGrp>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="RetDoc2002200001">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING</CategoryTxt>
        <Amt>4980</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>4980</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorporateStockGrp>
        <StockNm>INVESTMENTS - CORPORATE STOCK</StockNm>
        <EOYBookValueAmt>8153486</EOYBookValueAmt>
        <EOYFMVAmt>21136669</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="RetDoc2018100001">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENTS - OTHER INVESTEMNTS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>11339931</BookValueAmt>
        <EOYFMVAmt>14223607</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENTS - FOUNDERS PROPERTIES IV</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>599269</BookValueAmt>
        <EOYFMVAmt>1000000</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENTS - FUNDAMENTAL PARTNERS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>367613</BookValueAmt>
        <EOYFMVAmt>415009</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INVESTMENTS - FOUNDERS PROPERTIES V</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>279237</BookValueAmt>
        <EOYFMVAmt>563840</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherDecreasesSchedule documentId="RetDoc2049800001">
      <OtherDecreasesDetail>
        <Desc>EXCESS FMV OVER COST OF ASSETS CONTRIBUTED</Desc>
        <Amt>1093754</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>FUNDAMENTAL K-1 INTEREST EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>0</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>6368</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>FUNDAMENTAL K-1 INVESTMENT EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>0</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>9461</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OTHER EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>6164</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc2001500001">
      <OtherIncomeDetail>
        <Desc>FUNDAMENTAL PARNERS K-1</Desc>
        <RevenueAndExpensesPerBooksAmt>31515</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>15549</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>FOUNDERS V K-1</Desc>
        <RevenueAndExpensesPerBooksAmt>135881</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>-28637</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>FOUNDERS IV K-1</Desc>
        <RevenueAndExpensesPerBooksAmt>-25488</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>12294</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherProfessionalFeesSchedule documentId="RetDoc2002300001">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT ADVISOR FEES</CategoryTxt>
        <Amt>202956</Amt>
        <NetInvestmentIncomeAmt>121824</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>81132</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>ANNUAL FEE</CategoryTxt>
        <Amt>25</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>25</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FEDERAL PAYMENTS</CategoryTxt>
        <Amt>67705</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>
