﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2023v6.0" xsi:schemaLocation="http://www.irs.gov/efile">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2025-03-10T20:18:16-07:00</ReturnTs>
    <TaxPeriodEndDt>2024-04-30</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>870325228</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>HAYNIE &amp; COMPANY</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>1785 WEST 2300 SOUTH</AddressLine1Txt>
        <CityNm>SALT LAKE CITY</CityNm>
        <StateAbbreviationCd>UT</StateAbbreviationCd>
        <ZIPCd>84119</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2023-05-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>866050920</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>RAYMOND EDUCATIONAL FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>RAYM</BusinessNameControlTxt>
      <PhoneNum>9285255200</PhoneNum>
      <USAddress>
        <AddressLine1Txt>PO BOX 1423</AddressLine1Txt>
        <CityNm>FLAGSTAFF</CityNm>
        <StateAbbreviationCd>AZ</StateAbbreviationCd>
        <ZIPCd>86002</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>STEVE CONRAD</PersonNm>
      <PersonTitleTxt>Executive Director</PersonTitleTxt>
      <SignatureDt>2025-03-10</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>true</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>Phillip D Schutte CPA</PreparerPersonNm>
      <PTIN>P00065850</PTIN>
      <PhoneNum>8019724800</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2023</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="9">
    <IRS990PF documentId="IRS990PF" referenceDocumentId="GeneralExplanation" softwareId="23017517" softwareVersionNum="2023v6.0">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>2575060</FMVAssetsEOYAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>289</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>289</InterestOnSavNetInvstIncmAmt>
        <InterestOnSavingsAdjNetIncmAmt>289</InterestOnSavingsAdjNetIncmAmt>
        <DividendsRevAndExpnssAmt>97175</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>97175</DividendsNetInvstIncmAmt>
        <DividendsAdjNetIncmAmt>97175</DividendsAdjNetIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>91728</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>91728</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>91728</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>189192</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>189192</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>97464</TotalAdjNetIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>6000</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>6000</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstAdjNetIncmAmt>6000</CompOfcrDirTrstAdjNetIncmAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="AccountingFeesSchedule">3535</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>3535</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesAdjNetIncmAmt>3535</AccountingFeesAdjNetIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">2207</TaxesRevAndExpnssAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSchedule AmortizationSchedule">22733</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>22733</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesAdjNetIncmAmt>22733</OtherExpensesAdjNetIncmAmt>
        <TotOprExpensesRevAndExpnssAmt>34475</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>32268</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>32268</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>0</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>138700</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>138700</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>173175</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>32268</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>32268</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>138700</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>16017</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>156924</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>65196</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>51910</CashBOYAmt>
        <CashEOYAmt>66578</CashEOYAmt>
        <CashEOYFMVAmt>66578</CashEOYFMVAmt>
        <SavAndTempCashInvstBOYAmt>153370</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>18178</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>18178</SavAndTempCashInvstEOYFMVAmt>
        <CorporateStockBOYAmt>1254431</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="InvestmentsCorpStockSchedule">2211497</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>2211497</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>771840</CorporateBondsBOYAmt>
        <OtherInvestmentsBOYAmt>250443</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="InvestmentsOtherSchedule2">270477</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>270477</OtherInvestmentsEOYFMVAmt>
        <OtherAssetsBOYAmt referenceDocumentId="OtherAssetsSchedule">8330</OtherAssetsBOYAmt>
        <OtherAssetsEOYAmt referenceDocumentId="OtherAssetsSchedule">8330</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt referenceDocumentId="OtherAssetsSchedule">8330</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>2490324</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>2575060</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>2575060</TotalAssetsEOYFMVAmt>
        <AccountsPayableBOYAmt>82500</AccountsPayableBOYAmt>
        <OtherLiabilitiesEOYAmt referenceDocumentId="OtherLiabilitiesSchedule">1007</OtherLiabilitiesEOYAmt>
        <TotalLiabilitiesBOYAmt>82500</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>1007</TotalLiabilitiesEOYAmt>
        <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
        <NoDonorRstrNetAssestsBOYAmt>1320960</NoDonorRstrNetAssestsBOYAmt>
        <NoDonorRstrNetAssestsEOYAmt>1487189</NoDonorRstrNetAssestsEOYAmt>
        <DonorRstrNetAssetsBOYAmt>1086864</DonorRstrNetAssetsBOYAmt>
        <DonorRstrNetAssetsEOYAmt>1086864</DonorRstrNetAssetsEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>2407824</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>2574053</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>2490324</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>2575060</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>2407824</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>16017</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="OtherIncreasesSchedule">152307</OtherIncreasesAmt>
        <SubtotalAmt>2576148</SubtotalAmt>
        <OtherDecreasesAmt referenceDocumentId="OtherDecreasesSchedule">2095</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>2574053</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>LT CAPITAL GAIN DISTRIBUITION</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2021-01-01</AcquiredDt>
          <SoldDt>2023-12-31</SoldDt>
          <GrossSalesPriceAmt>91728</GrossSalesPriceAmt>
          <GainOrLossAmt>91728</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>91728</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>91728</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>2181</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>2181</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>2181</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>2207</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>2207</TotalPaymentsAndCreditsAmt>
        <Form2220AttachedInd referenceDocumentId="IRS2220">X</Form2220AttachedInd>
        <EsPenaltyAmt>26</EsPenaltyAmt>
        <TaxDueAmt>0</TaxDueAmt>
        <AppliedToESTaxAmt>0</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>false</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>www.raymondeducationalfoundation.org</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>STEVEN CONRAD</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>9284203535</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>PO BOX 1423</AddressLine1Txt>
          <CityNm>FLAGSTAFF</CityNm>
          <StateAbbreviationCd>AZ</StateAbbreviationCd>
          <ZIPCd>86002</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>
        <ActsFailToQlfyAsExceptionsInd>false</ActsFailToQlfyAsExceptionsInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <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>RICHARD GOMEZ</PersonNm>
          <USAddress>
            <AddressLine1Txt>1741 N WAKONDA ST</AddressLine1Txt>
            <CityNm>FLAGSTAFF</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>86004</ZIPCd>
          </USAddress>
          <TitleTxt>Past President</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MARK McCULLOUGH</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 1000</AddressLine1Txt>
            <CityNm>FLAGSTAFF</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>86002</ZIPCd>
          </USAddress>
          <TitleTxt>President</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>PATTY GARCIA</PersonNm>
          <USAddress>
            <AddressLine1Txt>2505 HEIDI LOOP</AddressLine1Txt>
            <CityNm>FLAGSTAFF</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>86004</ZIPCd>
          </USAddress>
          <TitleTxt>SEC/TRES</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MIKE CROMER</PersonNm>
          <USAddress>
            <AddressLine1Txt>4484 E BURNING TREE</AddressLine1Txt>
            <CityNm>FLAGSTAFF</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>86004</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>TIM HANSON</PersonNm>
          <USAddress>
            <AddressLine1Txt>150 E DALE ST 2</AddressLine1Txt>
            <CityNm>FLAGSTAFF</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>86001</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>LINDA RADOSEVICH</PersonNm>
          <USAddress>
            <AddressLine1Txt>17 W PINE AVE</AddressLine1Txt>
            <CityNm>FLAGSTAFF</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>86001</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>KATHERINE PASTOR</PersonNm>
          <USAddress>
            <AddressLine1Txt>400 E ELM AVE</AddressLine1Txt>
            <CityNm>FLAGSTAFF</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>86001</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>FRANK GARCIA</PersonNm>
          <USAddress>
            <AddressLine1Txt>655 E DAVID DRIVE</AddressLine1Txt>
            <CityNm>FLAGSTAFF</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>86001</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>BILLY CORDOSCO</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 608</AddressLine1Txt>
            <CityNm>FLAGSTAFF</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>86002</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>STEVE CONRAD</PersonNm>
          <USAddress>
            <AddressLine1Txt>8199 KOCH FIELD RD</AddressLine1Txt>
            <CityNm>FLAGSTAFF</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>86004</ZIPCd>
          </USAddress>
          <TitleTxt>Executive Dir.</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>10.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>6000</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>2378074</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>49345</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>2427419</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>2427419</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>36411</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>2391008</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>119550</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>119550</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>2181</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>2181</TotalTaxAmt>
        <DistributableBeforeAdjAmt>117369</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>117369</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>117369</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>138700</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>138700</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>117369</DistributableAsAdjustedAmt>
        <ExcessDistributionCyovYr3Amt>13362</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>61392</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>21778</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>96532</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>138700</QualifyingDistributionsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>117369</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>21331</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>117863</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovToNextYrAmt>117863</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear3Amt>13362</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>61392</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>21778</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>21331</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>RAYMOND EDUCATIONAL FOUNDATION</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 1423</AddressLine1Txt>
            <CityNm>FLAGSTAFF</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>86002</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>9285255200</RecipientPhoneNum>
          <RecipientEmailAddressTxt>www.raymondeducationalfoundation.org</RecipientEmailAddressTxt>
          <FormAndInfoAndMaterialsTxt>FORMAL REQUEST FOR ASSISTANCE</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>NONE</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>LIMITED TO RESIDENTS OF COCONINO COUNTY, AZ</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>NORTHERN ARIZONA UNIVERSIT</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>S SAN FRANCISCO ST</AddressLine1Txt>
            <CityNm>FLAGSTAFF</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>86011</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>40000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>NAU TO CCC TO NAU</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>S SAN FRANCISO ST</AddressLine1Txt>
            <CityNm>FLAGSTAFF</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>86011</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>30000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>COCONINO COMMUNITY COLLEGE</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>2800 S LONE TREE RD</AddressLine1Txt>
            <CityNm>FLAGSTAFF</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>86001</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>36400</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>CCC TO NAU</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>2800 S LONE TREE RD</AddressLine1Txt>
            <CityNm>FLAGSTAFF</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>86001</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>19800</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>LITERACY VOLUNTEERS</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>2223 E 7TH AVE</AddressLine1Txt>
            <CityNm>FLAGSTAFF</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>86004</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>EDUCATION</GrantOrContributionPurposeTxt>
          <Amt>1500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>FLAGSTAFF FAMILY FOOD CENTER</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1903 N 2ND ST</AddressLine1Txt>
            <CityNm>FLAGSTAFF</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>86004</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>FOOD</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>FUSD CTE</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>3285 SPAROW AVE</AddressLine1Txt>
            <CityNm>FLAGSTAFF</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>86004</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>EDUCATION</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>FUSD CAMP COLTON</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>3285 SPAROW AVE</AddressLine1Txt>
            <CityNm>FLAGSTAFF</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>86004</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>YOUTH DEVELOPMENT</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>138700</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <RelatedOrExemptFunctionIncmAmt>289</RelatedOrExemptFunctionIncmAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <RelatedOrExemptFunctionIncmAmt>97175</RelatedOrExemptFunctionIncmAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <RelatedOrExemptFunctionIncmAmt>91728</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <RelatedOrExemptFunctionIncmAmt>189192</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>189192</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>12</LineNumberTxt>
          <RelationshipStatementTxt>EXEMPT PURPOSE IS SATISFIED BY MAKING GRANTS TO OTHER CHARITABLE ORGANIZATIONS RELATED TO EDUCATION AND HUMAN WELFARE IN COCONINO COUNTY, AZ,</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
      </RlnOfActyToAccomOfExmptPrpsGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>false</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>false</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>false</RelationshipsNonchrtblEOInd>
      </TrnsfrTransRlnNonchrtblEOGrp>
    </IRS990PF>
    <AccountingFeesSchedule documentId="AccountingFeesSchedule" softwareId="23017517" softwareVersionNum="2023v6.0">
      <AccountingFeesDetail>
        <Amt>3535</Amt>
        <NetInvestmentIncomeAmt>3535</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>3535</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestmentsCorpStockSchedule" softwareId="23017517" softwareVersionNum="2023v6.0">
      <InvestmentsCorporateStockGrp>
        <StockNm>METRO WEST FLIXIBLE INC</StockNm>
        <EOYBookValueAmt>263826</EOYBookValueAmt>
        <EOYFMVAmt>263826</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>PIMCO INCOME ESTL</StockNm>
        <EOYBookValueAmt>268100</EOYBookValueAmt>
        <EOYFMVAmt>268100</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>AQR EMERG MULTI STYLE</StockNm>
        <EOYBookValueAmt>258657</EOYBookValueAmt>
        <EOYFMVAmt>258657</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>AQR INTL MULTI STYLE</StockNm>
        <EOYBookValueAmt>441426</EOYBookValueAmt>
        <EOYFMVAmt>441426</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>AQR LARGE CAP MULTI STYLE</StockNm>
        <EOYBookValueAmt>688538</EOYBookValueAmt>
        <EOYFMVAmt>688538</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>AQR SMALL CAP MULTI-STYLE</StockNm>
        <EOYBookValueAmt>236468</EOYBookValueAmt>
        <EOYFMVAmt>236468</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>CLIFFWATER CORPORATE LD</StockNm>
        <EOYBookValueAmt>54482</EOYBookValueAmt>
        <EOYFMVAmt>54482</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="InvestmentsOtherSchedule2" softwareId="23017517" softwareVersionNum="2023v6.0">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>WISDOMTREE FLOATING RATE</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>270477</BookValueAmt>
        <EOYFMVAmt>270477</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherAssetsSchedule documentId="OtherAssetsSchedule" softwareId="23017517" softwareVersionNum="2023v6.0">
      <OtherAssetsScheduleGrp>
        <Desc>OTHER RECEIVABLE</Desc>
        <BOYBookValueAmt>8330</BOYBookValueAmt>
        <EOYBookValueAmt>8330</EOYBookValueAmt>
        <EOYFMVAmt>8330</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherDecreasesSchedule documentId="OtherDecreasesSchedule" softwareId="23017517" softwareVersionNum="2023v6.0">
      <OtherDecreasesDetail>
        <Desc>PPA FEDERAL EXCISE TAX PAID</Desc>
        <Amt>1095</Amt>
      </OtherDecreasesDetail>
      <OtherDecreasesDetail>
        <Desc>PPA IN AWARDS</Desc>
        <Amt>1000</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSchedule" softwareId="23017517" softwareVersionNum="2023v6.0">
      <OtherExpensesScheduleGrp>
        <Desc>AZ CORP COMM LICENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>10</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>10</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>10</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Insurance</Desc>
        <RevenueAndExpensesPerBooksAmt>480</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>480</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>480</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>1434</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>1434</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>1434</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PORTFOLIO MANAGMENT FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>19430</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>19430</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>19430</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PROMOTION AND MISCELLANEOUS</Desc>
        <RevenueAndExpensesPerBooksAmt>1379</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>1379</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>1379</AdjustedNetIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherLiabilitiesSchedule documentId="OtherLiabilitiesSchedule" softwareId="23017517" softwareVersionNum="2023v6.0">
      <OtherLiabilitiesDetail>
        <Desc>FEDERAL EXCISE TAX PAYABLE</Desc>
        <EOYBookValueAmt>1007</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <TaxesSchedule documentId="TaxesSchedule" softwareId="23017517" softwareVersionNum="2023v6.0">
      <TaxesDetail>
        <CategoryTxt>FEDERAL EXCISE TAX</CategoryTxt>
        <Amt>2207</Amt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>