﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2023v5.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2024-11-15T18:42:09-05:00</ReturnTs>
    <TaxPeriodEndDt>2023-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>810511572</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>HPW CPAS &amp; ADVISORS PLLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>1247 STONERIDGE DR</AddressLine1Txt>
        <CityNm>BOZEMAN</CityNm>
        <StateAbbreviationCd>MT</StateAbbreviationCd>
        <ZIPCd>59718</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990</ReturnTypeCd>
    <TaxPeriodBeginDt>2023-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>421613294</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>RECREATIONAL AVIATION FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>RECR</BusinessNameControlTxt>
      <PhoneNum>4065821723</PhoneNum>
      <USAddress>
        <AddressLine1Txt>1711 WEST COLLEGE STREET</AddressLine1Txt>
        <CityNm>BOZEMAN</CityNm>
        <StateAbbreviationCd>MT</StateAbbreviationCd>
        <ZIPCd>59715</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>JOHN MCKENNA</PersonNm>
      <PersonTitleTxt>CHAIRMAN</PersonTitleTxt>
      <PhoneNum>4065821723</PhoneNum>
      <SignatureDt>2024-11-14</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>false</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>CLINT PHILLIPS CPA</PreparerPersonNm>
      <PTIN>P00454521</PTIN>
      <PhoneNum>4065860281</PhoneNum>
      <PreparationDt>2024-11-14</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2023</TaxYr>
    <BuildTS>2024-10-15 13:58:12Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="6">
    <IRS990 documentId="RetDoc3" referenceDocumentId="RetDoc6">
      <PrincipalOfficerNm>JOHN MCKENNA</PrincipalOfficerNm>
      <USAddress>
        <AddressLine1Txt>1711 W COLLEGE STREET</AddressLine1Txt>
        <CityNm>BOZEMAN</CityNm>
        <StateAbbreviationCd>MT</StateAbbreviationCd>
        <ZIPCd>59715</ZIPCd>
      </USAddress>
      <GrossReceiptsAmt>5240547</GrossReceiptsAmt>
      <GroupReturnForAffiliatesInd>false</GroupReturnForAffiliatesInd>
      <Organization501c3Ind>X</Organization501c3Ind>
      <WebsiteAddressTxt>WWW.THERAF.ORG</WebsiteAddressTxt>
      <TypeOfOrganizationCorpInd>X</TypeOfOrganizationCorpInd>
      <FormationYr>2003</FormationYr>
      <LegalDomicileStateCd>MT</LegalDomicileStateCd>
      <ActivityOrMissionDesc>THE RECREATIONAL AVIATION FOUNDATION PRESERVES, IMPROVES, AND CREATES AIRSTRIPS FOR RECREATIONAL ACCESS.</ActivityOrMissionDesc>
      <VotingMembersGoverningBodyCnt>9</VotingMembersGoverningBodyCnt>
      <VotingMembersIndependentCnt>9</VotingMembersIndependentCnt>
      <TotalEmployeeCnt>2</TotalEmployeeCnt>
      <TotalGrossUBIAmt>0</TotalGrossUBIAmt>
      <PYContributionsGrantsAmt>1914845</PYContributionsGrantsAmt>
      <CYContributionsGrantsAmt>3237509</CYContributionsGrantsAmt>
      <CYProgramServiceRevenueAmt>0</CYProgramServiceRevenueAmt>
      <PYInvestmentIncomeAmt>29089</PYInvestmentIncomeAmt>
      <CYInvestmentIncomeAmt>113908</CYInvestmentIncomeAmt>
      <PYOtherRevenueAmt>-9155</PYOtherRevenueAmt>
      <CYOtherRevenueAmt>17082</CYOtherRevenueAmt>
      <PYTotalRevenueAmt>1934779</PYTotalRevenueAmt>
      <CYTotalRevenueAmt>3368499</CYTotalRevenueAmt>
      <CYGrantsAndSimilarPaidAmt>0</CYGrantsAndSimilarPaidAmt>
      <CYBenefitsPaidToMembersAmt>0</CYBenefitsPaidToMembersAmt>
      <PYSalariesCompEmpBnftPaidAmt>110086</PYSalariesCompEmpBnftPaidAmt>
      <CYSalariesCompEmpBnftPaidAmt>128133</CYSalariesCompEmpBnftPaidAmt>
      <CYTotalProfFndrsngExpnsAmt>0</CYTotalProfFndrsngExpnsAmt>
      <CYTotalFundraisingExpenseAmt>67617</CYTotalFundraisingExpenseAmt>
      <PYOtherExpensesAmt>331487</PYOtherExpensesAmt>
      <CYOtherExpensesAmt>683499</CYOtherExpensesAmt>
      <PYTotalExpensesAmt>441573</PYTotalExpensesAmt>
      <CYTotalExpensesAmt>811632</CYTotalExpensesAmt>
      <PYRevenuesLessExpensesAmt>1493206</PYRevenuesLessExpensesAmt>
      <CYRevenuesLessExpensesAmt>2556867</CYRevenuesLessExpensesAmt>
      <TotalAssetsBOYAmt>4164596</TotalAssetsBOYAmt>
      <TotalAssetsEOYAmt>6723043</TotalAssetsEOYAmt>
      <TotalLiabilitiesBOYAmt>17392</TotalLiabilitiesBOYAmt>
      <TotalLiabilitiesEOYAmt>18972</TotalLiabilitiesEOYAmt>
      <NetAssetsOrFundBalancesBOYAmt>4147204</NetAssetsOrFundBalancesBOYAmt>
      <NetAssetsOrFundBalancesEOYAmt>6704071</NetAssetsOrFundBalancesEOYAmt>
      <InfoInScheduleOPartIIIInd>X</InfoInScheduleOPartIIIInd>
      <MissionDesc>THE RECREATIONAL AVIATION FOUNDATION PRESERVES, IMPROVES, AND CREATES AIRSTRIPS FOR RECREATIONAL ACCESS.</MissionDesc>
      <SignificantNewProgramSrvcInd>false</SignificantNewProgramSrvcInd>
      <SignificantChangeInd>false</SignificantChangeInd>
      <ExpenseAmt>50502</ExpenseAmt>
      <GrantAmt>30000</GrantAmt>
      <Desc>RAF WORKED TO IMPROVE RAINELLE AIRFIELD IN WEST VIRGINIA, A PRIVATE AIRSTRIP OPEN TO USE BY BACKCOUNTRY AVIATORS. ENHANCEMENTS INCLUDE A NEW DUAL RESTROOM AND SHOWER HOUSE, A MECHANICAL ROOM, AND ELECTRICAL OUTLETS FOR CHARGING DEVICES NEAR THE CAMPING AND TIE-DOWN AREA.</Desc>
      <ProgSrvcAccomActy2Grp>
        <ExpenseAmt>45716</ExpenseAmt>
        <GrantAmt>45716</GrantAmt>
        <Desc>THE RAF SUPPORTED THE US FOREST SERVICE IN IMPROVING THE SACATON AIRSTRIP IN THE GILA NATIONAL FOREST IN NEW MEXICO, HELPING TO REESTABLISH THE RUNWAY AND INSTALL A NEW VAULT TOILET. BECAUSE OF THIS WORK, THE STRIP IS IN BETTER POSITION FOR USE IN FIRE SUPPRESSION, EMERGENCY MEDICAL EVACUATION, AND BACKCOUNTRY ACCESS.</Desc>
      </ProgSrvcAccomActy2Grp>
      <ProgSrvcAccomActy3Grp>
        <ExpenseAmt>96216</ExpenseAmt>
        <Desc>THE RAF ENHANCED ITS INTERACTIVE ONLINE AIRFIELD GUIDE (AIRFIELD.GUIDE.THERAF.ORG), ADDING AIRFIELDS SURVEYED BY RAF LIAISONS TO BRING THE TOTAL TO 389, ADDING THE ABILITY TO COMMENT ON SPECIFIC AIRFIELDS, AND ENHANCING OVERALL EASE OF USE AND FUNCTIONALITY.</Desc>
      </ProgSrvcAccomActy3Grp>
      <ProgSrvcAccomActyOtherGrp>
        <ExpenseAmt>395081</ExpenseAmt>
        <Desc>OTHER ACCOMPLISHMENTS FELL UNDER THE UMBRELLA OF THE PROMOTION AND BETTERMENT OF RECREATIONAL AIRSTRIPS.</Desc>
      </ProgSrvcAccomActyOtherGrp>
      <TotalOtherProgSrvcExpenseAmt>395081</TotalOtherProgSrvcExpenseAmt>
      <TotalProgramServiceExpensesAmt>587515</TotalProgramServiceExpensesAmt>
      <DescribedInSection501c3Ind referenceDocumentId="RetDoc7">true</DescribedInSection501c3Ind>
      <ScheduleBRequiredInd referenceDocumentId="RetDoc1">true</ScheduleBRequiredInd>
      <PoliticalCampaignActyInd>false</PoliticalCampaignActyInd>
      <LobbyingActivitiesInd>false</LobbyingActivitiesInd>
      <SubjectToProxyTaxInd>false</SubjectToProxyTaxInd>
      <DonorAdvisedFundInd referenceDocumentId="RetDoc4">false</DonorAdvisedFundInd>
      <ConservationEasementsInd referenceDocumentId="RetDoc4">false</ConservationEasementsInd>
      <CollectionsOfArtInd referenceDocumentId="RetDoc4">false</CollectionsOfArtInd>
      <CreditCounselingInd referenceDocumentId="RetDoc4">false</CreditCounselingInd>
      <DonorRstrOrQuasiEndowmentsInd referenceDocumentId="RetDoc4">true</DonorRstrOrQuasiEndowmentsInd>
      <ReportLandBuildingEquipmentInd referenceDocumentId="RetDoc4">true</ReportLandBuildingEquipmentInd>
      <ReportInvestmentsOtherSecInd referenceDocumentId="RetDoc4">false</ReportInvestmentsOtherSecInd>
      <ReportProgramRelatedInvstInd referenceDocumentId="RetDoc4">false</ReportProgramRelatedInvstInd>
      <ReportOtherAssetsInd referenceDocumentId="RetDoc4">false</ReportOtherAssetsInd>
      <ReportOtherLiabilitiesInd referenceDocumentId="RetDoc4">true</ReportOtherLiabilitiesInd>
      <IncludeFIN48FootnoteInd referenceDocumentId="RetDoc4">false</IncludeFIN48FootnoteInd>
      <IndependentAuditFinclStmtInd referenceDocumentId="RetDoc4">false</IndependentAuditFinclStmtInd>
      <ConsolidatedAuditFinclStmtInd referenceDocumentId="RetDoc4">false</ConsolidatedAuditFinclStmtInd>
      <SchoolOperatingInd>false</SchoolOperatingInd>
      <ForeignOfficeInd>false</ForeignOfficeInd>
      <ForeignActivitiesInd>false</ForeignActivitiesInd>
      <MoreThan5000KToOrgInd>false</MoreThan5000KToOrgInd>
      <MoreThan5000KToIndividualsInd>false</MoreThan5000KToIndividualsInd>
      <ProfessionalFundraisingInd>false</ProfessionalFundraisingInd>
      <FundraisingActivitiesInd>false</FundraisingActivitiesInd>
      <GamingActivitiesInd>false</GamingActivitiesInd>
      <OperateHospitalInd>false</OperateHospitalInd>
      <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
      <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
      <ScheduleJRequiredInd>false</ScheduleJRequiredInd>
      <TaxExemptBondsInd>false</TaxExemptBondsInd>
      <EngagedInExcessBenefitTransInd>false</EngagedInExcessBenefitTransInd>
      <PYExcessBenefitTransInd>false</PYExcessBenefitTransInd>
      <LoanOutstandingInd>false</LoanOutstandingInd>
      <GrantToRelatedPersonInd>false</GrantToRelatedPersonInd>
      <BusinessRlnWithOrgMemInd>false</BusinessRlnWithOrgMemInd>
      <BusinessRlnWithFamMemInd>false</BusinessRlnWithFamMemInd>
      <BusinessRlnWith35CtrlEntInd>false</BusinessRlnWith35CtrlEntInd>
      <DeductibleNonCashContriInd referenceDocumentId="RetDoc5">true</DeductibleNonCashContriInd>
      <DeductibleArtContributionInd referenceDocumentId="RetDoc5">false</DeductibleArtContributionInd>
      <TerminateOperationsInd>false</TerminateOperationsInd>
      <PartialLiquidationInd>false</PartialLiquidationInd>
      <DisregardedEntityInd>false</DisregardedEntityInd>
      <RelatedEntityInd>false</RelatedEntityInd>
      <RelatedOrganizationCtrlEntInd>false</RelatedOrganizationCtrlEntInd>
      <TrnsfrExmptNonChrtblRltdOrgInd>false</TrnsfrExmptNonChrtblRltdOrgInd>
      <ActivitiesConductedPrtshpInd>false</ActivitiesConductedPrtshpInd>
      <ScheduleORequiredInd>true</ScheduleORequiredInd>
      <IRPDocumentCnt>2</IRPDocumentCnt>
      <IRPDocumentW2GCnt>0</IRPDocumentW2GCnt>
      <BackupWthldComplianceInd>false</BackupWthldComplianceInd>
      <EmployeeCnt>2</EmployeeCnt>
      <EmploymentTaxReturnsFiledInd>true</EmploymentTaxReturnsFiledInd>
      <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
      <ForeignFinancialAccountInd>false</ForeignFinancialAccountInd>
      <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      <TaxablePartyNotificationInd>false</TaxablePartyNotificationInd>
      <NondeductibleContributionsInd>false</NondeductibleContributionsInd>
      <IndoorTanningServicesInd>false</IndoorTanningServicesInd>
      <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      <SubjectToExcsTaxNetInvstIncInd>false</SubjectToExcsTaxNetInvstIncInd>
      <InfoInScheduleOPartVIInd>X</InfoInScheduleOPartVIInd>
      <GoverningBodyVotingMembersCnt>9</GoverningBodyVotingMembersCnt>
      <IndependentVotingMemberCnt>9</IndependentVotingMemberCnt>
      <FamilyOrBusinessRlnInd>false</FamilyOrBusinessRlnInd>
      <DelegationOfMgmtDutiesInd>false</DelegationOfMgmtDutiesInd>
      <ChangeToOrgDocumentsInd>false</ChangeToOrgDocumentsInd>
      <MaterialDiversionOrMisuseInd>false</MaterialDiversionOrMisuseInd>
      <MembersOrStockholdersInd>false</MembersOrStockholdersInd>
      <ElectionOfBoardMembersInd>false</ElectionOfBoardMembersInd>
      <DecisionsSubjectToApprovaInd>false</DecisionsSubjectToApprovaInd>
      <MinutesOfGoverningBodyInd>true</MinutesOfGoverningBodyInd>
      <MinutesOfCommitteesInd>true</MinutesOfCommitteesInd>
      <OfficerMailingAddressInd>false</OfficerMailingAddressInd>
      <LocalChaptersInd>false</LocalChaptersInd>
      <Form990ProvidedToGvrnBodyInd>false</Form990ProvidedToGvrnBodyInd>
      <ConflictOfInterestPolicyInd>true</ConflictOfInterestPolicyInd>
      <AnnualDisclosureCoveredPrsnInd>true</AnnualDisclosureCoveredPrsnInd>
      <RegularMonitoringEnfrcInd>false</RegularMonitoringEnfrcInd>
      <WhistleblowerPolicyInd>false</WhistleblowerPolicyInd>
      <DocumentRetentionPolicyInd>false</DocumentRetentionPolicyInd>
      <CompensationProcessCEOInd>false</CompensationProcessCEOInd>
      <CompensationProcessOtherInd>false</CompensationProcessOtherInd>
      <InvestmentInJointVentureInd>false</InvestmentInJointVentureInd>
      <BooksInCareOfDetail>
        <PersonNm>JOHN MCKENNA</PersonNm>
        <PhoneNum>4065821723</PhoneNum>
        <USAddress>
          <AddressLine1Txt>1711 W COLLEGE STREET</AddressLine1Txt>
          <CityNm>BOZEMAN</CityNm>
          <StateAbbreviationCd>MT</StateAbbreviationCd>
          <ZIPCd>59715</ZIPCd>
        </USAddress>
      </BooksInCareOfDetail>
      <NoListedPersonsCompensatedInd>X</NoListedPersonsCompensatedInd>
      <Form990PartVIISectionAGrp>
        <PersonNm>BILL BRINE</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>PETER BUNCE</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>TIM RILEY</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JEFF RUSSELL</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>STEVE TAYLOR</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>BILL MCGLYNN</PersonNm>
        <TitleTxt>PRESIDENT</TitleTxt>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JOHN MCKENNA</PersonNm>
        <TitleTxt>CHAIRMAN</TitleTxt>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>MIKE PERKINS</PersonNm>
        <TitleTxt>TREASURER</TitleTxt>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>TODD SIMMONS</PersonNm>
        <TitleTxt>VICE PRESIDE</TitleTxt>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <FormerOfcrEmployeesListedInd>false</FormerOfcrEmployeesListedInd>
      <TotalCompGreaterThan150KInd>false</TotalCompGreaterThan150KInd>
      <CompensationFromOtherSrcsInd>false</CompensationFromOtherSrcsInd>
      <FederatedCampaignsAmt>132093</FederatedCampaignsAmt>
      <GovernmentGrantsAmt>100301</GovernmentGrantsAmt>
      <AllOtherContributionsAmt>3005115</AllOtherContributionsAmt>
      <NoncashContributionsAmt>185420</NoncashContributionsAmt>
      <TotalContributionsAmt>3237509</TotalContributionsAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>88478</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>88478</RelatedOrExemptFuncIncomeAmt>
      </InvestmentIncomeGrp>
      <GrossAmountSalesAssetsGrp>
        <SecuritiesAmt>1801375</SecuritiesAmt>
        <OtherAmt>42103</OtherAmt>
      </GrossAmountSalesAssetsGrp>
      <LessCostOthBasisSalesExpnssGrp>
        <SecuritiesAmt>1818048</SecuritiesAmt>
      </LessCostOthBasisSalesExpnssGrp>
      <GainOrLossGrp>
        <SecuritiesAmt>-16673</SecuritiesAmt>
        <OtherAmt>42103</OtherAmt>
      </GainOrLossGrp>
      <NetGainOrLossInvestmentsGrp>
        <TotalRevenueColumnAmt>25430</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>25430</RelatedOrExemptFuncIncomeAmt>
      </NetGainOrLossInvestmentsGrp>
      <GrossSalesOfInventoryAmt>71082</GrossSalesOfInventoryAmt>
      <CostOfGoodsSoldAmt>54000</CostOfGoodsSoldAmt>
      <NetIncomeOrLossGrp>
        <TotalRevenueColumnAmt>17082</TotalRevenueColumnAmt>
        <ExclusionAmt>17082</ExclusionAmt>
      </NetIncomeOrLossGrp>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>3368499</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>113908</RelatedOrExemptFuncIncomeAmt>
        <ExclusionAmt>17082</ExclusionAmt>
      </TotalRevenueGrp>
      <InfoInScheduleOPartIXInd>X</InfoInScheduleOPartIXInd>
      <OtherSalariesAndWagesGrp>
        <TotalAmt>117887</TotalAmt>
        <ProgramServicesAmt>59820</ProgramServicesAmt>
        <ManagementAndGeneralAmt>20000</ManagementAndGeneralAmt>
        <FundraisingAmt>38067</FundraisingAmt>
      </OtherSalariesAndWagesGrp>
      <PayrollTaxesGrp>
        <TotalAmt>10246</TotalAmt>
        <ProgramServicesAmt>5123</ProgramServicesAmt>
        <ManagementAndGeneralAmt>1691</ManagementAndGeneralAmt>
        <FundraisingAmt>3432</FundraisingAmt>
      </PayrollTaxesGrp>
      <FeesForServicesManagementGrp>
        <TotalAmt>42240</TotalAmt>
        <ProgramServicesAmt>28240</ProgramServicesAmt>
        <ManagementAndGeneralAmt>14000</ManagementAndGeneralAmt>
      </FeesForServicesManagementGrp>
      <FeesForServicesLegalGrp>
        <TotalAmt>4912</TotalAmt>
        <ProgramServicesAmt>4011</ProgramServicesAmt>
        <ManagementAndGeneralAmt>901</ManagementAndGeneralAmt>
      </FeesForServicesLegalGrp>
      <FeesForServicesAccountingGrp>
        <TotalAmt>14318</TotalAmt>
        <ManagementAndGeneralAmt>14318</ManagementAndGeneralAmt>
      </FeesForServicesAccountingGrp>
      <FeesForSrvcInvstMgmntFeesGrp>
        <TotalAmt>22389</TotalAmt>
        <ManagementAndGeneralAmt>22389</ManagementAndGeneralAmt>
      </FeesForSrvcInvstMgmntFeesGrp>
      <FeesForServicesOtherGrp>
        <TotalAmt>102105</TotalAmt>
        <ProgramServicesAmt>85605</ProgramServicesAmt>
        <FundraisingAmt>16500</FundraisingAmt>
      </FeesForServicesOtherGrp>
      <AdvertisingGrp>
        <TotalAmt>49081</TotalAmt>
        <ProgramServicesAmt>39915</ProgramServicesAmt>
        <ManagementAndGeneralAmt>7288</ManagementAndGeneralAmt>
        <FundraisingAmt>1878</FundraisingAmt>
      </AdvertisingGrp>
      <OfficeExpensesGrp>
        <TotalAmt>25518</TotalAmt>
        <ProgramServicesAmt>16043</ProgramServicesAmt>
        <ManagementAndGeneralAmt>4310</ManagementAndGeneralAmt>
        <FundraisingAmt>5165</FundraisingAmt>
      </OfficeExpensesGrp>
      <TravelGrp>
        <TotalAmt>60197</TotalAmt>
        <ProgramServicesAmt>38037</ProgramServicesAmt>
        <ManagementAndGeneralAmt>20085</ManagementAndGeneralAmt>
        <FundraisingAmt>2075</FundraisingAmt>
      </TravelGrp>
      <DepreciationDepletionGrp>
        <TotalAmt>27727</TotalAmt>
        <ProgramServicesAmt>27727</ProgramServicesAmt>
      </DepreciationDepletionGrp>
      <InsuranceGrp>
        <TotalAmt>67926</TotalAmt>
        <ProgramServicesAmt>24522</ProgramServicesAmt>
        <ManagementAndGeneralAmt>43404</ManagementAndGeneralAmt>
      </InsuranceGrp>
      <OtherExpensesGrp>
        <Desc>AIRSTRIP MAINT. GRANTS</Desc>
        <TotalAmt>182275</TotalAmt>
        <ProgramServicesAmt>182275</ProgramServicesAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>CONFERENCES &amp; MEETINGS</Desc>
        <TotalAmt>51703</TotalAmt>
        <ProgramServicesAmt>51703</ProgramServicesAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>FACILITIES &amp; EQUIPMENT</Desc>
        <TotalAmt>10806</TotalAmt>
        <ProgramServicesAmt>8806</ProgramServicesAmt>
        <ManagementAndGeneralAmt>1500</ManagementAndGeneralAmt>
        <FundraisingAmt>500</FundraisingAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>CREDIT CARD PROCESSING</Desc>
        <TotalAmt>8291</TotalAmt>
        <ProgramServicesAmt>8291</ProgramServicesAmt>
      </OtherExpensesGrp>
      <AllOtherExpensesGrp>
        <TotalAmt>14011</TotalAmt>
        <ProgramServicesAmt>7397</ProgramServicesAmt>
        <ManagementAndGeneralAmt>6614</ManagementAndGeneralAmt>
      </AllOtherExpensesGrp>
      <TotalFunctionalExpensesGrp>
        <TotalAmt>811632</TotalAmt>
        <ProgramServicesAmt>587515</ProgramServicesAmt>
        <ManagementAndGeneralAmt>156500</ManagementAndGeneralAmt>
        <FundraisingAmt>67617</FundraisingAmt>
      </TotalFunctionalExpensesGrp>
      <CashNonInterestBearingGrp>
        <BOYAmt>579846</BOYAmt>
        <EOYAmt>366888</EOYAmt>
      </CashNonInterestBearingGrp>
      <SavingsAndTempCashInvstGrp>
        <BOYAmt>236205</BOYAmt>
        <EOYAmt>300140</EOYAmt>
      </SavingsAndTempCashInvstGrp>
      <InventoriesForSaleOrUseGrp>
        <BOYAmt>18726</BOYAmt>
        <EOYAmt>18726</EOYAmt>
      </InventoriesForSaleOrUseGrp>
      <PrepaidExpensesDefrdChargesGrp>
        <BOYAmt>36781</BOYAmt>
      </PrepaidExpensesDefrdChargesGrp>
      <LandBldgEquipCostOrOtherBssAmt>2543606</LandBldgEquipCostOrOtherBssAmt>
      <LandBldgEquipAccumDeprecAmt>91163</LandBldgEquipAccumDeprecAmt>
      <LandBldgEquipBasisNetGrp>
        <BOYAmt>2447349</BOYAmt>
        <EOYAmt>2452443</EOYAmt>
      </LandBldgEquipBasisNetGrp>
      <InvestmentsPubTradedSecGrp>
        <BOYAmt>826896</BOYAmt>
        <EOYAmt>3562827</EOYAmt>
      </InvestmentsPubTradedSecGrp>
      <OtherAssetsTotalGrp>
        <BOYAmt>18793</BOYAmt>
        <EOYAmt>22019</EOYAmt>
      </OtherAssetsTotalGrp>
      <TotalAssetsGrp>
        <BOYAmt>4164596</BOYAmt>
        <EOYAmt>6723043</EOYAmt>
      </TotalAssetsGrp>
      <AccountsPayableAccrExpnssGrp>
        <BOYAmt>11499</BOYAmt>
        <EOYAmt>11579</EOYAmt>
      </AccountsPayableAccrExpnssGrp>
      <OtherLiabilitiesGrp>
        <BOYAmt>5893</BOYAmt>
        <EOYAmt>7393</EOYAmt>
      </OtherLiabilitiesGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>17392</BOYAmt>
        <EOYAmt>18972</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
      <CapStkTrPrinCurrentFundsGrp>
        <BOYAmt>5000</BOYAmt>
        <EOYAmt>5000</EOYAmt>
      </CapStkTrPrinCurrentFundsGrp>
      <RtnEarnEndowmentIncmOthFndsGrp>
        <BOYAmt>4142204</BOYAmt>
        <EOYAmt>6699071</EOYAmt>
      </RtnEarnEndowmentIncmOthFndsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>4147204</BOYAmt>
        <EOYAmt>6704071</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>4164596</BOYAmt>
        <EOYAmt>6723043</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <ReconcilationRevenueExpnssAmt>2556867</ReconcilationRevenueExpnssAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
      <FSAuditedInd>false</FSAuditedInd>
      <FederalGrantAuditRequiredInd>false</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc7">
      <PublicOrganization170Ind>X</PublicOrganization170Ind>
      <GiftsGrantsContriRcvd170Grp>
        <CurrentTaxYearMinus4YearsAmt>244146</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>1002501</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>587896</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>1914845</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>3237509</CurrentTaxYearAmt>
        <TotalAmt>6986897</TotalAmt>
      </GiftsGrantsContriRcvd170Grp>
      <TotalCalendarYear170Grp>
        <CurrentTaxYearMinus4YearsAmt>244146</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>1002501</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>587896</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>1914845</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>3237509</CurrentTaxYearAmt>
        <TotalAmt>6986897</TotalAmt>
      </TotalCalendarYear170Grp>
      <SubstantialContributorsTotAmt>3889533</SubstantialContributorsTotAmt>
      <PublicSupportTotal170Amt>3097364</PublicSupportTotal170Amt>
      <GrossInvestmentIncome170Grp>
        <CurrentTaxYearMinus4YearsAmt>22786</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>19461</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>43585</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>28649</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>130574</CurrentTaxYearAmt>
        <TotalAmt>245055</TotalAmt>
      </GrossInvestmentIncome170Grp>
      <OtherIncome170Grp>
        <CurrentTaxYearMinus4YearsAmt>81556</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>91224</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>59303</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>64218</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>71082</CurrentTaxYearAmt>
        <TotalAmt>367383</TotalAmt>
      </OtherIncome170Grp>
      <TotalSupportAmt>7599335</TotalSupportAmt>
      <GrossReceiptsRltdActivitiesAmt>172717</GrossReceiptsRltdActivitiesAmt>
      <PublicSupportCY170Pct>0.40760</PublicSupportCY170Pct>
      <PublicSupportPY170Pct>0.68530</PublicSupportPY170Pct>
      <ThirtyThrPctSuprtTestsCY170Ind>X</ThirtyThrPctSuprtTestsCY170Ind>
      <Form990ScheduleAPartVIGrp>
        <FormAndLineReferenceDesc>PART II, LINE 10</FormAndLineReferenceDesc>
        <ExplanationTxt>MERCHANDISE SALES 367,383</ExplanationTxt>
      </Form990ScheduleAPartVIGrp>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1">
      <ContributorInformationGrp>
        <ContributorNum>RESTRICTED</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorUSAddress>
        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <IRS990ScheduleD documentId="RetDoc4">
      <CYEndwmtFundGrp>
        <BeginningYearBalanceAmt>826746</BeginningYearBalanceAmt>
        <ContributionsAmt>2651439</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>103790</InvestmentEarningsOrLossesAmt>
        <AdministrativeExpensesAmt>20665</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>3561309</EndYearBalanceAmt>
      </CYEndwmtFundGrp>
      <CYMinus1YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>535866</BeginningYearBalanceAmt>
        <ContributionsAmt>270674</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>25221</InvestmentEarningsOrLossesAmt>
        <AdministrativeExpensesAmt>5015</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>826746</EndYearBalanceAmt>
      </CYMinus1YrEndwmtFundGrp>
      <CYMinus2YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>457012</BeginningYearBalanceAmt>
        <ContributionsAmt>32685</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>51120</InvestmentEarningsOrLossesAmt>
        <AdministrativeExpensesAmt>4003</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>535866</EndYearBalanceAmt>
      </CYMinus2YrEndwmtFundGrp>
      <CYMinus3YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>429640</BeginningYearBalanceAmt>
        <ContributionsAmt>23934</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>7351</InvestmentEarningsOrLossesAmt>
        <AdministrativeExpensesAmt>3913</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>457012</EndYearBalanceAmt>
      </CYMinus3YrEndwmtFundGrp>
      <CYMinus4YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>388939</BeginningYearBalanceAmt>
        <ContributionsAmt>25732</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>19053</InvestmentEarningsOrLossesAmt>
        <AdministrativeExpensesAmt>4084</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>429640</EndYearBalanceAmt>
      </CYMinus4YrEndwmtFundGrp>
      <BoardDesignatedBalanceEOYPct>1.00000</BoardDesignatedBalanceEOYPct>
      <EndowmentsHeldUnrelatedOrgInd>false</EndowmentsHeldUnrelatedOrgInd>
      <EndowmentsHeldRelatedOrgInd>false</EndowmentsHeldRelatedOrgInd>
      <LandGrp>
        <OtherCostOrOtherBasisAmt>1608111</OtherCostOrOtherBasisAmt>
        <BookValueAmt>1608111</BookValueAmt>
      </LandGrp>
      <OtherLandBuildingsGrp>
        <OtherCostOrOtherBasisAmt>935495</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>91163</DepreciationAmt>
        <BookValueAmt>844332</BookValueAmt>
      </OtherLandBuildingsGrp>
      <TotalBookValueLandBuildingsAmt>2452443</TotalBookValueLandBuildingsAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>PAYROLL LIABILITIES</Desc>
        <Amt>7393</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>7393</TotalLiabilityAmt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE D, PAGE 2, PART V, LINE 4</FormAndLineReferenceDesc>
        <ExplanationTxt>THE RAF INVESTMENT COMMITTEE, THROUGH ITS INVESTMENT POLICY STATEMENT, DETAILS THE LONG-TERM FINANCIAL AND INVESTMENT OBJECTIVES OF THE ENDOWMENT FUND. THE COMMITTEE ANNUALLY ESTABLISHES THE PAYOUT LEVEL FOR THE FOLLOWING YEAR. THIS PAYOUT RATE (CALLED "SPENDING") IS THE AMOUNT OF INVESTMENT INCOME DISTRIBUTED QUARTERLY FOR OPERATIONS OR OTHER DESIGNATED PURPOSES. THE CURRENT TRAGET PAYOUT RATE IS 3.5%. THE INVESTMENT COMMITTEE HAS THE ABILITY TO ACCESS THE EQUITY OPORTION OF THE FUND WHERE THE INVESTMENT RETURN DOES NOT EQUAL BUDGETED SHORT-TERM EXPENDITURES.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleD>
    <IRS990ScheduleM documentId="RetDoc5">
      <OtherNonCashContriTableGrp>
        <NonCashCheckboxInd>X</NonCashCheckboxInd>
        <ContributionCnt>1</ContributionCnt>
        <NoncashContributionsRptF990Amt>185420</NoncashContributionsRptF990Amt>
      </OtherNonCashContriTableGrp>
      <AnyPropertyThatMustBeHeldInd>false</AnyPropertyThatMustBeHeldInd>
      <ReviewProcessUnusualNCGiftsInd>false</ReviewProcessUnusualNCGiftsInd>
      <ThirdPartiesUsedInd>false</ThirdPartiesUsedInd>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="RetDoc6">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 2, PART III, LINE 4D</FormAndLineReferenceDesc>
        <ExplanationTxt>OTHER ACCOMPLISHMENTS FELL UNDER THE UMBRELLA OF THE PROMOTION AND BETTERMENT OF RECREATIONAL AIRSTRIPS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE CHAIRMAN REVIEWS THE 990.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>COPIES OF ORGANIZATIONAL DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART IX, LINE 11G</FormAndLineReferenceDesc>
        <ExplanationTxt>COMMUNICATIONS 5,958 0 0 WEBSITE DEVELOPMENT 79,647 0 16,500 TOTAL 85,605 0 16,500</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>