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            <CityNm>SAN ANTONIO</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>78209</ZIPCd>
          </USAddress>
          <TitleTxt>BOOKKEEPER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>40.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>51867</CompensationAmt>
          <EmployeeBenefitsAmt>22020</EmployeeBenefitsAmt>
        </CompensationHighestPaidEmplGrp>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>STUDENT AID LIBRARY AND INFORMATION CENTER. SEE STMT 18.</Description1Txt>
        <Expenses1Amt>373731</Expenses1Amt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>STUDENT LOAN PROGRAM, EDUCATIONAL LOANS TO INDIVIDUALS.</Description1Txt>
        <Expenses1Amt>94582</Expenses1Amt>
        <TotalAmt>94582</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>19554634</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>259259</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>3480354</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>23294247</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>23294247</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>349414</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>22944833</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>1147242</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>1147242</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>19698</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>19698</TotalTaxAmt>
        <DistributableBeforeAdjAmt>1127544</DistributableBeforeAdjAmt>
        <RecoveriesQualfiedDistriAmt>19060</RecoveriesQualfiedDistriAmt>
        <DistributableBeforeDedAmt>1146604</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>1146604</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>1664232</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>94582</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>1758814</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>1146604</DistributableAsAdjustedAmt>
        <ExcessDistributionCyovYr5Amt>489754</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>519675</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>451840</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>329842</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>538233</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>2329344</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>1758814</QualifyingDistributionsAmt>
        <AppliedToCurrentYearAmt>1146604</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>612210</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>2941554</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>489754</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>2451800</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>519675</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>451840</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>329842</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>538233</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>612210</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>JEANETTE ARELLANO</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1250 NE LOOP 410 SUITE 810</AddressLine1Txt>
            <CityNm>SAN ANTONIO</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>78209</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>2105258494</RecipientPhoneNum>
          <RecipientEmailAddressTxt>JARELLANO@MSPF.ORG</RecipientEmailAddressTxt>
          <FormAndInfoAndMaterialsTxt>SEE STATEMENT 19</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>SEE STATEMENT 19</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>SEE STATEMENT 19</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>PIPER PROFESSOR PROGRAM</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1250 NE LOOP 410 STE 810</AddressLine1Txt>
            <CityNm>SAN ANTONIO</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>78209</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>N/A</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SUPERIOR TEACHING AWARDS</GrantOrContributionPurposeTxt>
          <Amt>50000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>PIPER SCHOLARS PROGRAM</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1250 NE LOOP 410 STE 810</AddressLine1Txt>
            <CityNm>SAN ANTONIO</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>78209</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>N/A</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARDSHIP AWARDS</GrantOrContributionPurposeTxt>
          <Amt>341500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>VARIOUS CONTRIBUTIONS SEE STMT 20</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1250 NE LOOP 410 STE 810</AddressLine1Txt>
            <CityNm>SAN ANTONIO</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>78209</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>CHARITIES</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SEE STMT 20</GrantOrContributionPurposeTxt>
          <Amt>100000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>491500</TotalGrantOrContriPdDurYrAmt>
        <GrantOrContriApprvForFutGrp>
          <RecipientPersonNm>PIPER SCHOLARS PROGRAM</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1250 NE LOOP 410 STE 810</AddressLine1Txt>
            <CityNm>SAN ANTONIO</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>78209</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>N/A</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>UNDERGRADUATE STUDIES</GrantOrContributionPurposeTxt>
          <Amt>637000</Amt>
        </GrantOrContriApprvForFutGrp>
        <TotalGrantOrContriApprvFutAmt>637000</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>35019</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>400605</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <OtherInvestmentIncomeGrp>
          <ExclusionCd>15</ExclusionCd>
          <ExclusionAmt>563562</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>58083</RelatedOrExemptFunctionIncmAmt>
        </OtherInvestmentIncomeGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>838722</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>1837908</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>58083</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>1895991</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>7</LineNumberTxt>
          <RelationshipStatementTxt>INTEREST EARNED FROM STUDENT LOAN PROGRAM TO PROMOTE EDUCATION BY HAVING FUNDS AVAILABLE FOR WORTHY &amp; NEEDY STUDENTS THROUGH LOW INTEREST RATE STUDENT LOANS.</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
      </RlnOfActyToAccomOfExmptPrpsGrp>
      <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="RetDoc1">
      <AccountingFeesDetail>
        <CategoryTxt>AUDITING, ACCOUNTING &amp; TAX SVS</CategoryTxt>
        <Amt>45225</Amt>
        <NetInvestmentIncomeAmt>17124</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>28101</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <DepreciationSchedule documentId="RetDoc2">
      <DepreciationPropertyGrp>
        <PropertyDesc>DEPECIATION, SEE STMT 16</PropertyDesc>
        <CostOrOtherBasisAmt>165985</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>156536</PriorYearDepreciationAmt>
        <ComputationMethodTxt>STRAIGHT LINE</ComputationMethodTxt>
        <LifeRt>5.0000</LifeRt>
        <CurrentYearExpenseAmt>6353</CurrentYearExpenseAmt>
        <NetInvestmentIncomeAmt>1588</NetInvestmentIncomeAmt>
      </DepreciationPropertyGrp>
    </DepreciationSchedule>
    <InvestmentsCorpBondsSchedule documentId="RetDoc3">
      <InvestmentsCorporateBondsGrp>
        <BondNm>CORPORATE BONDS-SEE STMT 23</BondNm>
        <EOYBookValueAmt>7377119</EOYBookValueAmt>
        <EOYFMVAmt>7164174</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc4">
      <InvestmentsCorporateStockGrp>
        <StockNm>CORPORATE STOCK SEE STMT 22</StockNm>
        <EOYBookValueAmt>5875652</EOYBookValueAmt>
        <EOYFMVAmt>12042636</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsGovtObligationsSch documentId="RetDoc5">
      <USGovtObligationsBookVlEOYAmt>298481</USGovtObligationsBookVlEOYAmt>
      <USGovtObligationsEOYFMVAmt>300359</USGovtObligationsEOYFMVAmt>
      <StateLocalSecBookVlEOYAmt>70740</StateLocalSecBookVlEOYAmt>
      <StateLocalSecEOYFMVAmt>89204</StateLocalSecEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <InvestmentsOtherSchedule2 documentId="RetDoc6">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>LAND</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>505</BookValueAmt>
        <EOYFMVAmt>65558</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>OIL &amp; GAS ROYALTIES</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>36386</BookValueAmt>
        <EOYFMVAmt>3369764</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LandEtcSchedule2 documentId="RetDoc7">
      <LandEtcGrp>
        <CategoryOrItemTxt>FURNITURE &amp; EQUIPMENT-SEE STMT 16</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>165985</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>162889</AccumulatedDepreciationAmt>
        <BookValueAmt>3096</BookValueAmt>
        <EOYFMVAmt>60226</EOYFMVAmt>
      </LandEtcGrp>
    </LandEtcSchedule2>
    <OtherAssetsSchedule documentId="RetDoc8">
      <OtherAssetsScheduleGrp>
        <Desc>FINE ARTS</Desc>
        <BOYBookValueAmt>2520</BOYBookValueAmt>
        <EOYBookValueAmt>2520</EOYBookValueAmt>
        <EOYFMVAmt>24273</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherDecreasesSchedule documentId="RetDoc9">
      <OtherDecreasesDetail>
        <Desc>GRANTS &amp; CONTRIBUTIONS</Desc>
        <Amt>13015</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="RetDoc10">
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>BAD DEBTS NET OF RECOVERIES</Desc>
        <RevenueAndExpensesPerBooksAmt>-9057</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>-9057</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>-9057</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>COLLECTION EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>25168</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>25168</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>25168</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>COMMITTEE FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>19400</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>1200</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>1200</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>18200</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>COMPUTER MAINTENANCE &amp; TRAINI</Desc>
        <RevenueAndExpensesPerBooksAmt>23835</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>2384</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>21451</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>DUES &amp; SUBSCRIPTIONS</Desc>
        <RevenueAndExpensesPerBooksAmt>8924</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>4240</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>4684</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>EQUIPMENT RENTALS</Desc>
        <RevenueAndExpensesPerBooksAmt>12863</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>12863</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>GAS PIPELINE TRANSPORTATION</Desc>
        <RevenueAndExpensesPerBooksAmt>36</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>36</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>15226</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>8431</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>6795</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>LESS: EXCESS SL EXPENSES</Desc>
        <NetInvestmentIncomeAmt>-278718</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>-278718</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>287775</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>LESS: OTHER NONDEDUCTIBLE EXP</Desc>
        <NetInvestmentIncomeAmt>-1014</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE EXPENSE &amp; SUPPLIES</Desc>
        <RevenueAndExpensesPerBooksAmt>22460</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>3639</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>1045</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>18821</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OUTSIDE SERVICES</Desc>
        <RevenueAndExpensesPerBooksAmt>39639</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>5602</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>34037</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>REPAIRS</Desc>
        <RevenueAndExpensesPerBooksAmt>4726</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>1182</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>3544</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>TELEPHONE</Desc>
        <RevenueAndExpensesPerBooksAmt>9148</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>3110</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>6038</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MISCELLANEOUS</Desc>
        <RevenueAndExpensesPerBooksAmt>409</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>184</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>225</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc11">
      <OtherIncomeDetail>
        <Desc>OIL &amp; GAS ROYALTIES</Desc>
        <RevenueAndExpensesPerBooksAmt>541811</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>541811</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>OIL LEASE BONUSES</Desc>
        <RevenueAndExpensesPerBooksAmt>20239</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>20239</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>STUDENT LOAN INTEREST</Desc>
        <RevenueAndExpensesPerBooksAmt>58083</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>58083</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>CLASS ACTION SETTLEMENTS</Desc>
        <RevenueAndExpensesPerBooksAmt>1487</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>1487</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>MISCELLANEOUS</Desc>
        <RevenueAndExpensesPerBooksAmt>25</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>25</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherNotesLoansRcvblShortSch2 documentId="RetDoc12">
      <OtherNotesLoansRcvblShortGrp>
        <Organization501c3Name>
          <BusinessNameLine1Txt>STUDENT EDUCATIONAL LOANS</BusinessNameLine1Txt>
        </Organization501c3Name>
        <BalanceDueAmt>366413</BalanceDueAmt>
      </OtherNotesLoansRcvblShortGrp>
    </OtherNotesLoansRcvblShortSch2>
    <OtherProfessionalFeesSchedule documentId="RetDoc13">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT AGENCY FEES</CategoryTxt>
        <Amt>132123</Amt>
        <NetInvestmentIncomeAmt>132123</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc14">
      <TaxesDetail>
        <CategoryTxt>FEDERAL EXCISE TAX</CategoryTxt>
        <Amt>19893</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES ON DIVIDENDS</CategoryTxt>
        <Amt>382</Amt>
        <NetInvestmentIncomeAmt>382</NetInvestmentIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>PROPERTY TAXES</CategoryTxt>
        <Amt>29012</Amt>
        <NetInvestmentIncomeAmt>28981</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>31</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>