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          <PersonNm>JOAN P PRENTICE</PersonNm>
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            <CityNm>JACKSONVILLE</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>32204</ZIPCd>
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          <TitleTxt>VICE PRES.</TitleTxt>
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          <PersonNm>MARC C HUTCHINSON</PersonNm>
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            <AddressLine1Txt>1092 MCCUE COURT</AddressLine1Txt>
            <CityNm>GREAT FALLS</CityNm>
            <StateAbbreviationCd>VA</StateAbbreviationCd>
            <ZIPCd>22066</ZIPCd>
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          <PersonNm>JAMES TANOUS</PersonNm>
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            <AddressLine1Txt>41 NIAGARA PIER</AddressLine1Txt>
            <CityNm>ERIE</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>16507</ZIPCd>
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          <TitleTxt>EXECUTIVE DIREC</TitleTxt>
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        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ROBERT ZAK</PersonNm>
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            <AddressLine1Txt>1088 DELAWARE AVENUE</AddressLine1Txt>
            <CityNm>BUFFALO</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
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          <TitleTxt>SECRETARY</TitleTxt>
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            <CityNm>BUFFALO</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
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            <StateAbbreviationCd>FL</StateAbbreviationCd>
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        <Description1Txt>SCHOLARSHIP PROGRAM TO ASSIST UNDERGRADUATE AND GRADUATE STUDENTS AT THE STATE UNIVERSITY OF NEW YORK AT BUFFALO (UB) AND CANISIUS COLLEGE WHO ARE ACTIVELY PREPARING FOR CAREERS THAT FURTHER ECONOMIC DEVELOPMENT AND GROWTH IN THE WESTERN NEW YORK AREA.THE FELLOWSHIP PROGRAM COMBINES FINANCIAL ASSISTANCE, IN THE FORM OF SCHOLARSHIPS, WITH PAID, CREDIT-BEARING INTERNSHIPS TO ASSIST FELLOWS IN ACQUIRING BOTH ACADEMIC AND PRACTICAL EXPERIENCES IN THEIR INTENDED PROFESSIONS. THE GRANTING OF THE SCHOLARSHIP WILL DEPEND ON ELIGIBILITY, NEED, AND STUDENT MIX,AS WELL AS THE STUDENT'S ABILITY TO COMPLY WITH THE SCHOOL'S STANDARD OF PROGRESS TO MEET FEDERAL SCHOLARSHIP GUIDELINES.</Description1Txt>
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        <Description2Txt>INVESTMENT IN TRESCA GROUP INC - FACILITATE ECONOMIC GROWTH AND ADVANCE ECONOMIC ACTIVITY WITHIN WESTERN NEW YORK</Description2Txt>
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        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
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        <ExcessDistriCyovFromYr5Amt>19554</ExcessDistriCyovFromYr5Amt>
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        <PrivateOperatingFndtnRulingDt>2007-09-23</PrivateOperatingFndtnRulingDt>
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      <SupplementaryInformationGrp>
        <ContributingManagerNm>BRYANT H PRENTICE III</ContributingManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
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            <BusinessNameLine1Txt>CANISIUS COLLEGE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
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            <StateAbbreviationCd>NY</StateAbbreviationCd>
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          </RecipientUSAddress>
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          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
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        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>UNIV OF BUFFALO FOUNDATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>101 SERVICE CENTER RD</AddressLine1Txt>
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            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>14260</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>ADMINISTRATION OF THE SCHOLARSHIP PROGRAM AND SCHOLARSHIP AWARDS</GrantOrContributionPurposeTxt>
          <Amt>525000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>WNY PROSPERITY FELLOWSHIP INC</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2495 MAIN ST STE 470</AddressLine1Txt>
            <CityNm>BUFFALO</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>14214</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>ADMINISTRATION OF THE SCHOLARSHIP PROGRAM AND SCHOLARSHIP AWARDS</GrantOrContributionPurposeTxt>
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        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>816117</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>8</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>1306</RelatedOrExemptFunctionIncmAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>276082</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>466062</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
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          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>742152</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>1306</RelatedOrExemptFunctionIncmAmt>
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        <TotalIncomeProducingActyAmt>743458</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
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        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>3</LineNumberTxt>
          <RelationshipStatementTxt>OTHER INVESTMENT INCOME IS USED TO FUND SCHOLARSHIP PROGRAM.</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
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      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>0</TrnsfrOfCashToNonchrtblEOInd>
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        <LoansOrLoanGuaranteesInd>0</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>0</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>0</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>0</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
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      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>15800</Amt>
        <NetInvestmentIncomeAmt>7900</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>7900</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
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      <AllOtherProgramRelatedInvstGrp>
        <Desc>INVESTMENTS IN ADVENTURE SPORTS DEVELOPMENT, SUP ERIE ADVENTURES, STC ARCHITECTURAL</Desc>
        <Amt>460000</Amt>
      </AllOtherProgramRelatedInvstGrp>
    </AllOthProgRltdInvestmentsSch>
    <InvestmentsCorpBondsSchedule documentId="RetDoc2044400001">
      <InvestmentsCorporateBondsGrp>
        <BondNm>FIXED INCOME</BondNm>
        <EOYBookValueAmt>4422175</EOYBookValueAmt>
        <EOYFMVAmt>4052925</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorporateStockGrp>
        <StockNm>EQUITIES</StockNm>
        <EOYBookValueAmt>8190971</EOYBookValueAmt>
        <EOYFMVAmt>10939792</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="RetDoc2018100001">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>BRYANT &amp; STRATTON COLLEGE STOCK</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>3997700</BookValueAmt>
        <EOYFMVAmt>3997700</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>EFFERENT LABS STOCK</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>743000</BookValueAmt>
        <EOYFMVAmt>743000</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>TRESCA GROUP INC</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>200000</BookValueAmt>
        <EOYFMVAmt>200000</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>ADVENTURE SPORTS DEV</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>75000</BookValueAmt>
        <EOYFMVAmt>75000</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>SUP ERIE ADVENTURES</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>60000</BookValueAmt>
        <EOYFMVAmt>60000</EOYFMVAmt>
      </InvestmentsOtherGrp>
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      <LegalFeesGrp>
        <CategoryTxt>LEGAL FEES</CategoryTxt>
        <LegalFeesAmt>2599</LegalFeesAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2599</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
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      <OtherAssetsScheduleGrp>
        <Desc>LOAN - STC ARCHITECTURAL</Desc>
        <BOYBookValueAmt>325000</BOYBookValueAmt>
        <EOYBookValueAmt>325000</EOYBookValueAmt>
        <EOYFMVAmt>325000</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>LOAN - TRESCA DESIGN LLC</Desc>
        <BOYBookValueAmt>96000</BOYBookValueAmt>
        <EOYBookValueAmt>475000</EOYBookValueAmt>
        <EOYFMVAmt>475000</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
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      <OtherExpensesScheduleGrp>
        <Desc>INVESTMENT FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>70</RevenueAndExpensesPerBooksAmt>
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        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>BANK CHARGES</Desc>
        <RevenueAndExpensesPerBooksAmt>89</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>89</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>AGENCY FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>74217</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>74217</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc2002300001">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>CONSULTING FEES</CategoryTxt>
        <Amt>27500</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>27500</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
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      <TaxesDetail>
        <CategoryTxt>FOREIGN TAX PAID</CategoryTxt>
        <Amt>2478</Amt>
        <NetInvestmentIncomeAmt>2478</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FEDERAL TAXES</CategoryTxt>
        <Amt>22619</Amt>
        <NetInvestmentIncomeAmt>22619</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>
