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            <BusinessNameLine1Txt>VARIOUS UNIVERSITIES</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientForeignAddress>
            <AddressLine1Txt>1300 N Zhongshan Rd</AddressLine1Txt>
            <CityNm>Wujiang City</CityNm>
            <ProvinceOrStateNm>Jiangsu</ProvinceOrStateNm>
            <CountryCd>CH</CountryCd>
            <ForeignPostalCd>215000</ForeignPostalCd>
          </RecipientForeignAddress>
          <RecipientRelationshipTxt>THIRD PARTY</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>EDUCATION</GrantOrContributionPurposeTxt>
          <Amt>7832581</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>7832581</TotalGrantOrContriPdDurYrAmt>
        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>2096626</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>10829450</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <OtherInvestmentIncomeGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>405685</ExclusionAmt>
        </OtherInvestmentIncomeGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>440793</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>13772554</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>0</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>13772554</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>
    <AccountingFeesSchedule documentId="RetDoc2002200001">
      <AccountingFeesDetail>
        <CategoryTxt>Audit</CategoryTxt>
        <Amt>1967</Amt>
        <NetInvestmentIncomeAmt>984</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>1967</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <ExplnOfNonFilingWithAGStmt documentId="RetDoc2210600001">
      <ExplanationTxt>Nevada does not have a 990-PF reporting requirement.</ExplanationTxt>
    </ExplnOfNonFilingWithAGStmt>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorporateStockGrp>
        <StockNm>Stock and mutual funds</StockNm>
        <EOYBookValueAmt>577545000</EOYBookValueAmt>
        <EOYFMVAmt>577545000</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <LegalFeesSchedule documentId="RetDoc2002100001">
      <LegalFeesGrp>
        <CategoryTxt>Legal</CategoryTxt>
        <LegalFeesAmt>16213</LegalFeesAmt>
        <NetInvestmentIncomeAmt>8107</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>16213</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherAssetsSchedule documentId="RetDoc2046600001">
      <OtherAssetsScheduleGrp>
        <Desc>Real Estate</Desc>
        <BOYBookValueAmt>652658</BOYBookValueAmt>
        <EOYBookValueAmt>562658</EOYBookValueAmt>
        <EOYFMVAmt>562658</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>TZ Realty LLC</Desc>
        <BOYBookValueAmt>1176652</BOYBookValueAmt>
        <EOYBookValueAmt>1047914</EOYBookValueAmt>
        <EOYFMVAmt>1047914</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>CT Financial III LLC</Desc>
        <BOYBookValueAmt>27057952</BOYBookValueAmt>
        <EOYBookValueAmt>180773</EOYBookValueAmt>
        <EOYFMVAmt>180773</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherDecreasesSchedule documentId="RetDoc2049800001">
      <OtherDecreasesDetail>
        <Desc>UNREALIZED GAINS(LOSSES)</Desc>
        <Amt>183062643</Amt>
      </OtherDecreasesDetail>
      <OtherDecreasesDetail>
        <Desc>CONTRIBUTION TO DONOR ADVISED FUND</Desc>
        <Amt>31000000</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>Bank service Charge</Desc>
        <RevenueAndExpensesPerBooksAmt>623</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>312</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>623</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Investment Expense</Desc>
        <RevenueAndExpensesPerBooksAmt>387473</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>387473</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>387473</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Telephone &amp; Internet</Desc>
        <RevenueAndExpensesPerBooksAmt>6770</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>3385</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>6770</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>License</Desc>
        <RevenueAndExpensesPerBooksAmt>9932</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>4966</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>9932</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>China Center repair</Desc>
        <RevenueAndExpensesPerBooksAmt>93515</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>46758</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>93515</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Advertising</Desc>
        <RevenueAndExpensesPerBooksAmt>2372</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>1186</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2372</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Insurance</Desc>
        <RevenueAndExpensesPerBooksAmt>9103</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>4551</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>9103</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc2001500001">
      <OtherIncomeDetail>
        <Desc>Schedule K-1s</Desc>
        <RevenueAndExpensesPerBooksAmt>405649</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>405649</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>405649</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>Misc Investment Income</Desc>
        <RevenueAndExpensesPerBooksAmt>36</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>36</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>36</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherProfessionalFeesSchedule documentId="RetDoc2002300001">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>Management fees</CategoryTxt>
        <Amt>544306</Amt>
        <NetInvestmentIncomeAmt>272153</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>544306</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>Technology services</CategoryTxt>
        <Amt>168411</Amt>
        <NetInvestmentIncomeAmt>84206</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>168411</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc2002500001">
      <TaxesDetail>
        <CategoryTxt>Payroll tax</CategoryTxt>
        <Amt>15385</Amt>
        <NetInvestmentIncomeAmt>7692</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>15385</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>Income Tax</CategoryTxt>
        <Amt>216000</Amt>
        <NetInvestmentIncomeAmt>216000</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>216000</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>Foreign tax</CategoryTxt>
        <Amt>48716</Amt>
        <NetInvestmentIncomeAmt>48716</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>48716</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>
