﻿<?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>2024-11-08T14:36:34-05:00</ReturnTs>
    <TaxPeriodEndDt>2023-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>300003878</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>BENNING GROUP LLC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>1809 10TH ST</AddressLine1Txt>
        <CityNm>MONROE</CityNm>
        <StateAbbreviationCd>WI</StateAbbreviationCd>
        <ZIPCd>535661830</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2023-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>391317293</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>EMILY FRANZ MEMORIAL SCHOLARSHIP FD</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>EMIL</BusinessNameControlTxt>
      <PhoneNum>6085582801</PhoneNum>
      <USAddress>
        <AddressLine1Txt>PO BOX 487</AddressLine1Txt>
        <CityNm>SHULLSBURG</CityNm>
        <StateAbbreviationCd>WI</StateAbbreviationCd>
        <ZIPCd>53586</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>MICHAEL WOODWORTH</PersonNm>
      <PersonTitleTxt>TREASURER</PersonTitleTxt>
      <PhoneNum>6085582801</PhoneNum>
      <SignatureDt>2024-11-07</SignatureDt>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>false</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>JENNY L BLOCKER</PreparerPersonNm>
      <PTIN>P00883678</PTIN>
      <PhoneNum>6083255035</PhoneNum>
      <PreparationDt>2024-11-07</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2023</TaxYr>
    <BuildTS>2024-10-15 13:58:12Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="10">
    <IRS990PF documentId="RetDoc13">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>3579755</FMVAssetsEOYAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>79804</ContriRcvdRevAndExpnssAmt>
        <InterestOnSavRevAndExpnssAmt>13805</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>13805</InterestOnSavNetInvstIncmAmt>
        <InterestOnSavingsAdjNetIncmAmt>13805</InterestOnSavingsAdjNetIncmAmt>
        <DividendsRevAndExpnssAmt>107313</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>107313</DividendsNetInvstIncmAmt>
        <DividendsAdjNetIncmAmt>107313</DividendsAdjNetIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>-18224</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>355751</GrossSalesPriceAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="RetDoc8">13498</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeAdjNetIncmAmt>13498</OtherIncomeAdjNetIncmAmt>
        <TotalRevAndExpnssAmt>196196</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>121118</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>134616</TotalAdjNetIncmAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc3">800</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>800</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesAdjNetIncmAmt>800</AccountingFeesAdjNetIncmAmt>
        <AccountingFeesChrtblPrpsAmt>800</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc9">3510</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>3510</OtherProfFeesNetInvstIncmAmt>
        <OtherProfFeesAdjNetIncmAmt>3510</OtherProfFeesAdjNetIncmAmt>
        <OtherProfFeesDsbrsChrtblAmt>3510</OtherProfFeesDsbrsChrtblAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc10">1117</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>1117</TaxesNetInvstIncmAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc7">115525</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>1487</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesAdjNetIncmAmt>7001</OtherExpensesAdjNetIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>110011</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>120952</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>6914</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>11311</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>114321</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>0</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>76282</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>120952</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>6914</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>11311</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>190603</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>75244</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>114204</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>123305</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>205001</CashBOYAmt>
        <CashEOYAmt>145120</CashEOYAmt>
        <CashEOYFMVAmt>145120</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>61554</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>85501</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>85501</SavAndTempCashInvstEOYFMVAmt>
        <CorporateStockBOYAmt>975409</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc5">941901</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>1836053</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>676709</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="RetDoc4">639061</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>629505</CorporateBondsEOYFMVAmt>
        <OtherAssetsBOYAmt referenceDocumentId="RetDoc6">669000</OtherAssetsBOYAmt>
        <OtherAssetsEOYAmt referenceDocumentId="RetDoc6">883576</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt referenceDocumentId="RetDoc6">883576</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>2587673</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>2695159</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>3579755</TotalAssetsEOYFMVAmt>
        <GrantsPayableBOYAmt>71361</GrantsPayableBOYAmt>
        <GrantsPayableEOYAmt>103603</GrantsPayableEOYAmt>
        <TotalLiabilitiesBOYAmt>71361</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>103603</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <AdditionalPaidInCapitalBOYAmt>1894734</AdditionalPaidInCapitalBOYAmt>
        <AdditionalPaidInCapitalEOYAmt>1894734</AdditionalPaidInCapitalEOYAmt>
        <RetainedEarningBOYAmt>621578</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>696822</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>2516312</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>2591556</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>2587673</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>2695159</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>2516312</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>75244</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>2591556</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>2591556</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>MORGAN STANLEY INVESTMENT</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>355751</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>373975</CostOrOtherBasisAmt>
          <GainOrLossAmt>-18224</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-18224</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>-18224</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>1587</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>1587</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>1587</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>1120</EstimatedPlusOvpmtIncmTxAmt>
        <ExtsnRequestIncomeTaxPaidAmt>900</ExtsnRequestIncomeTaxPaidAmt>
        <TotalPaymentsAndCreditsAmt>2020</TotalPaymentsAndCreditsAmt>
        <Form2220AttachedInd referenceDocumentId="RetDoc2">X</Form2220AttachedInd>
        <EsPenaltyAmt>12</EsPenaltyAmt>
        <OverpaymentAmt>421</OverpaymentAmt>
        <AppliedToESTaxAmt>421</AppliedToESTaxAmt>
      </ExciseTaxBasedOnInvstIncmGrp>
      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
        <ChangesToArticlesOrBylawsInd>false</ChangesToArticlesOrBylawsInd>
        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
        <OrganizationDissolvedEtcInd>false</OrganizationDissolvedEtcInd>
        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <OrgReportOrRegisterStateCd>WI</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>MICHAEL WOODWORTH</IndividualWithBooksNm>
        <PhoneNum>6085582801</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>2545 CTY P</AddressLine1Txt>
          <CityNm>SHULLSBURG</CityNm>
          <StateAbbreviationCd>WI</StateAbbreviationCd>
          <ZIPCd>53586</ZIPCd>
        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
      </StatementsRegardingActyGrp>
      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>false</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>false</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>DAVID POPP</PersonNm>
          <USAddress>
            <AddressLine1Txt>226 HELLER CT</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </USAddress>
          <TitleTxt>VICE PRESIDE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>LYNNE KRUSER-RANUM</PersonNm>
          <USAddress>
            <AddressLine1Txt>236 E HIGH ST</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </USAddress>
          <TitleTxt>SECRETARY</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MICHAEL WOODWORTH</PersonNm>
          <USAddress>
            <AddressLine1Txt>2545 CTY P</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </USAddress>
          <TitleTxt>TREASURER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JEFF RUSSELL</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 61</AddressLine1Txt>
            <AddressLine2Txt>133 FRANCIS ST</AddressLine2Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>KENNETH CURTIS</PersonNm>
          <USAddress>
            <AddressLine1Txt>19895 HWY A</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>THOMAS LETHLEAN</PersonNm>
          <USAddress>
            <AddressLine1Txt>421 W CLINTON</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JOSEPH DIEDRICH</PersonNm>
          <USAddress>
            <AddressLine1Txt>4999 CTY U</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>LARRY TEASDALE</PersonNm>
          <USAddress>
            <AddressLine1Txt>6660 CTY E</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MARY GENSLER</PersonNm>
          <USAddress>
            <AddressLine1Txt>4998 COUNTY ROAD U</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>KATHY LACKE</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 487</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ANNE DOYLE</PersonNm>
          <USAddress>
            <AddressLine1Txt>22850 COPELAND RD</AddressLine1Txt>
            <CityNm>SHULLSBERG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MARK DOYLE</PersonNm>
          <USAddress>
            <AddressLine1Txt>22946 DOYLE LANE</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>000.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>SCHOLARSHIPS PAID TO AND ALLOCATED FOR SHULLSBURG HIGH SCHOOL GRADUATES.</Description1Txt>
        <Expenses1Amt>108524</Expenses1Amt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>N/A</Description1Txt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>2458851</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>1024878</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>3483729</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>3483729</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>52256</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>3431473</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>171574</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>171574</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>1587</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>1587</TotalTaxAmt>
        <DistributableBeforeAdjAmt>169987</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>169987</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>169987</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>190603</ExpensesAndContributionsAmt>
        <SetAsideCashDistriTestAmt>103603</SetAsideCashDistriTestAmt>
        <QualifyingDistributionsAmt>294206</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>169987</DistributableAsAdjustedAmt>
        <ExcessDistributionCyovYr4Amt>50000</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>140362</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>36434</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>80773</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>307569</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>294206</QualifyingDistributionsAmt>
        <AppliedToCurrentYearAmt>169987</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>124219</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>431788</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovToNextYrAmt>431788</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>50000</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>140362</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>36434</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>80773</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>124219</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>EMILY FRANZ SCHOLARSHIP COMMITTEE</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 487</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>6085582801</RecipientPhoneNum>
          <RecipientEmailAddressTxt>MWOODWORTH34@GMAIL.COM</RecipientEmailAddressTxt>
          <FormAndInfoAndMaterialsTxt>SCHOLARSHIP APPLICATION</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>DATE TBD ANNUALLY BY COMMITTEE</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>AWARDS ARE GRANTED TO STUDENTS WHO HAVE GRADUATED FROM SHULLSBURG HIGH SCHOOL IN SHULLSBURG, WI.</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>ALYSON COOK</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1850</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>ANNA WEIGEL</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1850</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>BROOKLYN STRANG</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1850</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>CALISTA JERRY</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1850</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>CHEYANNE BURGESS</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1850</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>CORA LIERMAN</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>ELI POPPY</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>708</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>ELLA REILLY</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1850</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>ELLA WOODWORTH</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>4565</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>EMILY HERNANDEZ</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1850</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>EMILY WIEGEL</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>2375</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>EMMA PEDLEY</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>4750</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>EVAN EDGE</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>2534</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>FAITH MORRISSEY</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1850</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>HILDIE SIGWARTH</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53566</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>5150</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>JACK CHARLES</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>3500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>JARUMI VAZQUEZ</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>3100</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>JOELLE SIGWARTH</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>4000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>KATHERINE CLEMENTS</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1850</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>LAYLA DRISCOLL-WEBSTER</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1850</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>LUKE UNBEHAUN</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>4000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>LYDIA TURPIN</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>MADISON RUSSELL</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1850</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>MELISSA SCOTT</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>NICOLE TEUTSCHMANN</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1850</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>OWEN CHARLES</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>PEYTON DOYLE</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1850</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>REAGAN RUSSELL</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1850</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>REVA SPILLANE</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1850</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>SYDNEE WAND</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>4000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>ZACHARY WOODWORTH</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>SHULLSBURG</AddressLine1Txt>
            <CityNm>SHULLSBURG</CityNm>
            <StateAbbreviationCd>WI</StateAbbreviationCd>
            <ZIPCd>53586</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1850</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>76282</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>13805</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>107313</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <RelatedOrExemptFunctionIncmAmt>-18224</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <NetIncomeLossFromSpecialEvtGrp>
          <ExclusionCd>1</ExclusionCd>
          <ExclusionAmt>7822</ExclusionAmt>
        </NetIncomeLossFromSpecialEvtGrp>
        <OtherRevenueDescribedGrp>
          <Desc>MISC INCOME</Desc>
          <RelatedOrExemptFunctionIncmAmt>162</RelatedOrExemptFunctionIncmAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>128940</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>-18062</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>110878</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <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>
    <IRS990ScheduleB documentId="RetDoc1">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorPersonNm>THOMAS LEAHY</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>6101 BAKER ROAD SUITE 210</AddressLine1Txt>
          <CityNm>MINNETONKA</CityNm>
          <StateAbbreviationCd>MN</StateAbbreviationCd>
          <ZIPCd>55345</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>75000</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="RetDoc3">
      <AccountingFeesDetail>
        <CategoryTxt>INDIRECT ACCOUNTING FEES</CategoryTxt>
        <Amt>800</Amt>
        <NetInvestmentIncomeAmt>800</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>800</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>800</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpBondsSchedule documentId="RetDoc4">
      <InvestmentsCorporateBondsGrp>
        <BondNm>MORGAN STANLEY ACCOUNT XX4024</BondNm>
        <EOYBookValueAmt>639061</EOYBookValueAmt>
        <EOYFMVAmt>629505</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc5">
      <InvestmentsCorporateStockGrp>
        <StockNm>MORGAN STANLEY XX4024</StockNm>
        <EOYBookValueAmt>941901</EOYBookValueAmt>
        <EOYFMVAmt>1836053</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <OtherAssetsSchedule documentId="RetDoc6">
      <OtherAssetsScheduleGrp>
        <Desc>CERTIFICATES OF DEPOSIT</Desc>
        <BOYBookValueAmt>669000</BOYBookValueAmt>
        <EOYBookValueAmt>883576</EOYBookValueAmt>
        <EOYFMVAmt>883576</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="RetDoc7">
      <OtherExpensesScheduleGrp>
        <Desc>FUNDRAISER</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PRIZES</Desc>
        <RevenueAndExpensesPerBooksAmt>950</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>950</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>RAFFLE LICENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>25</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>25</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PRINTING</Desc>
        <RevenueAndExpensesPerBooksAmt>314</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>314</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>SPEAKER</Desc>
        <RevenueAndExpensesPerBooksAmt>300</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>300</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MEALS</Desc>
        <RevenueAndExpensesPerBooksAmt>2466</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>2466</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MISCELLANEOUS EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>1153</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>1153</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ADVERTISING</Desc>
        <RevenueAndExpensesPerBooksAmt>306</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>306</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>LIABILITY INSURANCE</Desc>
        <RevenueAndExpensesPerBooksAmt>215</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>215</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>215</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>215</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>LICENSE AND PERMITS</Desc>
        <RevenueAndExpensesPerBooksAmt>79</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>79</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>79</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>79</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>19</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>19</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>19</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>19</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>POSTAGE</Desc>
        <RevenueAndExpensesPerBooksAmt>288</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>288</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>288</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>288</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ACCRUED SCHOLARSHIPS ADJUSTME</Desc>
        <RevenueAndExpensesPerBooksAmt>108524</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>108524</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>RETURN OF CAPITAL</Desc>
        <RevenueAndExpensesPerBooksAmt>290</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>290</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>290</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>290</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MEMORIAL</Desc>
        <RevenueAndExpensesPerBooksAmt>100</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>100</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>100</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>100</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>CD PENALTY</Desc>
        <RevenueAndExpensesPerBooksAmt>496</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>496</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>496</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>496</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc8">
      <OtherIncomeDetail>
        <Desc>FUNDRAISER</Desc>
        <RevenueAndExpensesPerBooksAmt>13336</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>13336</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>MISC INCOME</Desc>
        <RevenueAndExpensesPerBooksAmt>162</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>162</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherProfessionalFeesSchedule documentId="RetDoc9">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INDIRECT OTHER PROFESSIONAL FEES</CategoryTxt>
        <Amt>3510</Amt>
        <NetInvestmentIncomeAmt>3510</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>3510</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>3510</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc10">
      <TaxesDetail>
        <CategoryTxt>EXCISE TAX</CategoryTxt>
        <Amt>1117</Amt>
        <NetInvestmentIncomeAmt>1117</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>