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      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>PAM HILLER</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>201 RAY YOUNG DRIVE</AddressLine1Txt>
            <CityNm>COLUMBIA</CityNm>
            <StateAbbreviationCd>MO</StateAbbreviationCd>
            <ZIPCd>65201</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>5738765458</RecipientPhoneNum>
          <RecipientEmailAddressTxt>PHILLER@MFA-INC.COM</RecipientEmailAddressTxt>
          <FormAndInfoAndMaterialsTxt>THE LINK TO THE APPLICATION SITE IS WWW.GRANTINTERFACE.COM/HOME/LOGON?URLKEY=MFAF</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>MARCH 15</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>BOARD OF DIRECTOR SCHOLARSHIPS ARE ONLY AWARDED TO EMPLOYEES OF MFA INCORPORATED, MFA ENTERPRISES, OR MFA OIL COMPANY. THE GENERAL SCHOLARSHIPS ARE ONLY AWARDED TO CHILDREN OR GRANDCHILDREN OF MEMBER LEVEL CUSTOMERS OF MFA INCORPORATED, MFA ENTERPRISES, MFA OIL COMPANY OR MFA AGENCIES. THESE APPLICANTS MUST ALSO BE RESIDENTS OF ARKANSAS, KANSAS, IOWA, MISSOURI, OR OKLAHOMA.</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>SEE STATEMENT 13</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SEE STATEMENT 13</AddressLine1Txt>
            <CityNm>COLUMBIA</CityNm>
            <StateAbbreviationCd>MO</StateAbbreviationCd>
            <ZIPCd>65201</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SEE STATEMENT 13</GrantOrContributionPurposeTxt>
          <Amt>781100</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>781100</TotalGrantOrContriPdDurYrAmt>
        <GrantOrContriApprvForFutGrp>
          <RecipientPersonNm>SEE STATEMENT 14</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SEE STATEMENT 14</AddressLine1Txt>
            <CityNm>COLUMBIA</CityNm>
            <StateAbbreviationCd>MO</StateAbbreviationCd>
            <ZIPCd>65201</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SEE STATEMENT 14</GrantOrContributionPurposeTxt>
          <Amt>782700</Amt>
        </GrantOrContriApprvForFutGrp>
        <TotalGrantOrContriApprvFutAmt>782700</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DividendsAndInterestFromSecDtl>
          <RelatedOrExemptFunctionIncmAmt>398044</RelatedOrExemptFunctionIncmAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <RelatedOrExemptFunctionIncmAmt>-74071</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <RelatedOrExemptFunctionIncmAmt>323973</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>323973</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>4</LineNumberTxt>
          <RelationshipStatementTxt>USED TO MAKE SCHOLARSHIP PAYMENTS</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>8</LineNumberTxt>
          <RelationshipStatementTxt>USED TO MAKE SCHOLARSHIP PAYMENTS</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>
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      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
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        <ContributorNum>1</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1Txt>MFA INCORPORATED</BusinessNameLine1Txt>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1Txt>201 RAY YOUNG DRIVE</AddressLine1Txt>
          <CityNm>COLUMBIA</CityNm>
          <StateAbbreviationCd>MO</StateAbbreviationCd>
          <ZIPCd>65201</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>51800</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
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      <ContributorInformationGrp>
        <ContributorNum>2</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1Txt>MFA OIL COMPANY</BusinessNameLine1Txt>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1Txt>1 RAY YOUNG DRIVE</AddressLine1Txt>
          <CityNm>COLUMBIA</CityNm>
          <StateAbbreviationCd>MO</StateAbbreviationCd>
          <ZIPCd>65201</ZIPCd>
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        <PersonContributionInd>X</PersonContributionInd>
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      <AccountingFeesDetail>
        <CategoryTxt>AUDIT AND TAX SERVICE</CategoryTxt>
        <Amt>8800</Amt>
        <DisbursementsCharitablePrpsAmt>8800</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpBondsSchedule documentId="RetDoc3">
      <InvestmentsCorporateBondsGrp>
        <BondNm>MORTGAGE NOTES</BondNm>
        <EOYBookValueAmt>564060</EOYBookValueAmt>
        <EOYFMVAmt>564060</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>CORPORATE BONDS</BondNm>
        <EOYBookValueAmt>3315877</EOYBookValueAmt>
        <EOYFMVAmt>3315877</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
      <InvestmentsCorporateBondsGrp>
        <BondNm>ASSET BACKED SECURITIES</BondNm>
        <EOYBookValueAmt>263703</EOYBookValueAmt>
        <EOYFMVAmt>263703</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc4">
      <InvestmentsCorporateStockGrp>
        <StockNm>DOMESTIC COMMON STOCK</StockNm>
        <EOYBookValueAmt>5059515</EOYBookValueAmt>
        <EOYFMVAmt>5059515</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsGovtObligationsSch documentId="RetDoc5">
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      <USGovtObligationsEOYFMVAmt>1960028</USGovtObligationsEOYFMVAmt>
      <StateLocalSecBookVlEOYAmt>637288</StateLocalSecBookVlEOYAmt>
      <StateLocalSecEOYFMVAmt>637288</StateLocalSecEOYFMVAmt>
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    <InvestmentsOtherSchedule2 documentId="RetDoc6">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>EXCHANGE TRADED MUTUAL FUNDS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>2960739</BookValueAmt>
        <EOYFMVAmt>2960739</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>DOMESTIC EQUITY MUTUAL FUNDS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
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        <EOYFMVAmt>943692</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INTERNATIONAL EQUITY MUTUAL FUNDS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>1646027</BookValueAmt>
        <EOYFMVAmt>1646027</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>HEDGE FUNDS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>406707</BookValueAmt>
        <EOYFMVAmt>406707</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherExpensesSchedule documentId="RetDoc7">
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ADMINISTRATIVE FEE</Desc>
        <RevenueAndExpensesPerBooksAmt>36000</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>36000</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ASSET MANAGER FEE</Desc>
        <RevenueAndExpensesPerBooksAmt>60812</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>60812</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE SUPPLIES</Desc>
        <RevenueAndExpensesPerBooksAmt>5061</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>5061</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>POSTAGE</Desc>
        <RevenueAndExpensesPerBooksAmt>1316</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>1316</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MISCELLANEOUS</Desc>
        <RevenueAndExpensesPerBooksAmt>817</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>817</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncreasesSchedule documentId="RetDoc8">
      <OtherIncreasesDetail>
        <Desc>UNREALIZED GAINS ON INVESTMENTS</Desc>
        <Amt>1268814</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherLiabilitiesSchedule documentId="RetDoc9">
      <OtherLiabilitiesDetail>
        <Desc>DUE TO BROKERS</Desc>
        <BOYBookValueAmt>73540</BOYBookValueAmt>
        <EOYBookValueAmt>10292</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
  </ReturnData>
</Return>
