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          <PropertyDesc>Cut Timber</PropertyDesc>
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        <WebsiteAddressTxt>fdncenter.org</WebsiteAddressTxt>
        <IndividualWithBooksNm>Mr John Walker</IndividualWithBooksNm>
        <PhoneNum>4795822310</PhoneNum>
        <LocationOfBooksUSAddress>
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          <CityNm>Fayetteville</CityNm>
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            <CityNm>Fayetteville</CityNm>
            <StateAbbreviationCd>AR</StateAbbreviationCd>
            <ZIPCd>72703</ZIPCd>
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          <TitleTxt>Secretary</TitleTxt>
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        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Johnny M Walker</PersonNm>
          <USAddress>
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            <CityNm>Crystal Bay</CityNm>
            <StateAbbreviationCd>NV</StateAbbreviationCd>
            <ZIPCd>89402</ZIPCd>
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          <TitleTxt>President</TitleTxt>
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          <CompensationAmt>24000</CompensationAmt>
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          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
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        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>Austin Walker</PersonNm>
          <USAddress>
            <AddressLine1Txt>1755 N Rock Springs RD NE</AddressLine1Txt>
            <CityNm>Atlanta</CityNm>
            <StateAbbreviationCd>GA</StateAbbreviationCd>
            <ZIPCd>30324</ZIPCd>
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          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.00</AverageHrsPerWkDevotedToPosRt>
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          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
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        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
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        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
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        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
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        <ExcessFromYear4Amt>14265978</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>13021074</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>10844300</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>13083364</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>18713146</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>None</ContributingManagerNm>
        <ShareholderManagerNm>None</ShareholderManagerNm>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>Mr John M Walker</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>PO Box 10500</AddressLine1Txt>
            <CityNm>Fayetteville</CityNm>
            <StateAbbreviationCd>AR</StateAbbreviationCd>
            <ZIPCd>72703</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>4795822310</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>See Statement Attached</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>Quarterly and one per year</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>Sec. 501(c)(3) organizations or tax exempt public entities.</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>See Exhibit A</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>Various</AddressLine1Txt>
            <CityNm>Various</CityNm>
            <StateAbbreviationCd>AR</StateAbbreviationCd>
            <ZIPCd>72700</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Various</GrantOrContributionPurposeTxt>
          <Amt>18237511</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>18237511</TotalGrantOrContriPdDurYrAmt>
        <GrantOrContriApprvForFutGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>See Exhibit B</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>Various</AddressLine1Txt>
            <CityNm>Various</CityNm>
            <StateAbbreviationCd>AR</StateAbbreviationCd>
            <ZIPCd>72400</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Various</GrantOrContributionPurposeTxt>
          <Amt>39833334</Amt>
        </GrantOrContriApprvForFutGrp>
        <TotalGrantOrContriApprvFutAmt>39833334</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>6</ExclusionCd>
          <ExclusionAmt>0</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>7850695</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>0</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>7850695</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>7850695</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>1</LineNumberTxt>
          <RelationshipStatementTxt>Further the efforts of the Foundation</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-01">
      <AccountingFeesDetail>
        <CategoryTxt>Paul H Burgess Inc Tax Compliance/Accounting</CategoryTxt>
        <Amt>10545</Amt>
      </AccountingFeesDetail>
      <AccountingFeesDetail>
        <CategoryTxt>Paymaster of Arkansas Accounting Expenses</CategoryTxt>
        <Amt>900</Amt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <GainLossSaleOtherAssetsSch documentId="GainLossSaleOtherAssetsSch-01">
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>Various Sales of Marketable Securities</AssetDesc>
        <HowAcquiredTxt>Purchased</HowAcquiredTxt>
        <GrossSalesPriceAmt>63264235</GrossSalesPriceAmt>
        <BasisAmt>56462176</BasisAmt>
        <TotalNetAmt>6802059</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>Wal Mart Stock</AssetDesc>
        <AcquiredDt>2021-04</AcquiredDt>
        <HowAcquiredTxt>Donated</HowAcquiredTxt>
        <SoldDt>2024-04</SoldDt>
        <GrossSalesPriceAmt>1744186</GrossSalesPriceAmt>
        <BasisAmt>695550</BasisAmt>
        <TotalNetAmt>1048636</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
    </GainLossSaleOtherAssetsSch>
    <InvestmentsCorpStockSchedule documentId="InvestmentsCorpStockSchedul-01">
      <InvestmentsCorporateStockGrp>
        <StockNm>Diversified Marketable Portfolio, Private Equity, Timber and Wal Mart Shares</StockNm>
        <EOYBookValueAmt>429124554</EOYBookValueAmt>
        <EOYFMVAmt>429124554</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <LegalFeesSchedule documentId="LegalFeesSchedule-01">
      <LegalFeesGrp>
        <CategoryTxt>Barber &amp; Bartz GC and Inv. Advice</CategoryTxt>
        <LegalFeesAmt>1978</LegalFeesAmt>
      </LegalFeesGrp>
      <LegalFeesGrp>
        <CategoryTxt>Bank of America Investment Advice</CategoryTxt>
        <LegalFeesAmt>187</LegalFeesAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSchedule-01">
      <OtherExpensesScheduleGrp>
        <Desc>Investment Fees</Desc>
        <RevenueAndExpensesPerBooksAmt>955867</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>955867</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Office &amp; Computer Expenses</Desc>
        <RevenueAndExpensesPerBooksAmt>71891</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>7189</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>64702</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Telephone</Desc>
        <RevenueAndExpensesPerBooksAmt>2876</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>288</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2588</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Utilities</Desc>
        <RevenueAndExpensesPerBooksAmt>14472</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>1447</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>13025</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Insurance</Desc>
        <RevenueAndExpensesPerBooksAmt>26395</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>2640</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>23755</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Repairs and Maintenance</Desc>
        <RevenueAndExpensesPerBooksAmt>34413</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>3441</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>30972</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>External Management Fees</Desc>
        <RevenueAndExpensesPerBooksAmt>2379</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>238</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2141</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Reforestation</Desc>
        <RevenueAndExpensesPerBooksAmt>1910</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>191</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>1719</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>2023 NOL Carrforward 990-T</Desc>
        <RevenueAndExpensesPerBooksAmt>205077</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>205077</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSchedule2-01">
      <OtherIncomeDetail>
        <Desc>Royalty Income</Desc>
        <RevenueAndExpensesPerBooksAmt>173819</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>173819</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>Pipeline Easement</Desc>
        <RevenueAndExpensesPerBooksAmt>3450</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>3450</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherIncreasesSchedule documentId="OtherIncreasesSchedule-01">
      <OtherIncreasesDetail>
        <Desc>Increase in Unrealized Market Gains</Desc>
        <Amt>102008969</Amt>
      </OtherIncreasesDetail>
      <OtherIncreasesDetail>
        <Desc>Decrease in Grants Payable</Desc>
        <Amt>2008333</Amt>
      </OtherIncreasesDetail>
      <OtherIncreasesDetail>
        <Desc>Capital Gain Net Income</Desc>
        <Amt>38407</Amt>
      </OtherIncreasesDetail>
      <OtherIncreasesDetail>
        <Desc>2023 NOL Carryforward from 990-T</Desc>
        <Amt>205077</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <TaxesSchedule documentId="TaxesSchedule-01">
      <TaxesDetail>
        <CategoryTxt>Payroll Taxes</CategoryTxt>
        <Amt>21885</Amt>
        <NetInvestmentIncomeAmt>2189</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>19696</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>Excise Taxes</CategoryTxt>
        <Amt>101000</Amt>
        <NetInvestmentIncomeAmt>101000</NetInvestmentIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>Property</CategoryTxt>
        <Amt>18685</Amt>
        <NetInvestmentIncomeAmt>1869</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>16816</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>Foreign Taxes</CategoryTxt>
        <Amt>29136</Amt>
        <NetInvestmentIncomeAmt>29136</NetInvestmentIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>Oil and Gas Taxes</CategoryTxt>
        <Amt>15401</Amt>
        <NetInvestmentIncomeAmt>15401</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>