﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2024v5.2" xsi:schemaLocation="http://www.irs.gov/efile">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2025-07-14T13:51:02-07:00</ReturnTs>
    <TaxPeriodEndDt>2024-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>421304875</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>Dickinson Bradshaw Fowler &amp; Hagen PC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>801 Grand Avenue Suite 3700</AddressLine1Txt>
        <CityNm>Des Moines</CityNm>
        <StateAbbreviationCd>IA</StateAbbreviationCd>
        <ZIPCd>50309</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2024-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>866589915</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>W D &amp; Shirley Schafer-Ray Educational Trust</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>WD&amp;S</BusinessNameControlTxt>
      <PhoneNum>5157821000</PhoneNum>
      <USAddress>
        <AddressLine1Txt>401 West Adams St PO Box 109</AddressLine1Txt>
        <CityNm>Creston</CityNm>
        <StateAbbreviationCd>IA</StateAbbreviationCd>
        <ZIPCd>50801</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>Kim Baker</PersonNm>
      <PersonTitleTxt>Trustee</PersonTitleTxt>
      <PhoneNum>5157821000</PhoneNum>
      <SignatureDt>2025-07-14</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>true</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>David M Repp</PreparerPersonNm>
      <PTIN>P01458180</PTIN>
      <PhoneNum>5152442600</PhoneNum>
      <PreparationDt>2025-07-14</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2024</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="9">
    <IRS990PF documentId="IRS990PF-01">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>6339251</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ContriRcvdRevAndExpnssAmt>29501</ContriRcvdRevAndExpnssAmt>
        <InterestOnSavRevAndExpnssAmt>48860</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>46107</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>104442</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>104442</DividendsNetInvstIncmAmt>
        <CapGainNetIncmNetInvstIncmAmt>0</CapGainNetIncmNetInvstIncmAmt>
        <GrossProfitRevAndExpnssAmt>0</GrossProfitRevAndExpnssAmt>
        <OtherIncomeRevAndExpnssAmt>0</OtherIncomeRevAndExpnssAmt>
        <TotalRevAndExpnssAmt>182803</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>150549</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>75000</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>30000</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>45000</CompOfcrDirTrstDsbrsChrtblAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="LegalFeesSchedule-01" referenceDocumentName="LegalFeesSchedule">1452</LegalFeesRevAndExpnssAmt>
        <LegalFeesNetInvstIncmAmt>1452</LegalFeesNetInvstIncmAmt>
        <AccountingFeesRevAndExpnssAmt>0</AccountingFeesRevAndExpnssAmt>
        <OtherProfFeesRevAndExpnssAmt>0</OtherProfFeesRevAndExpnssAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule-01" referenceDocumentName="TaxesSchedule">2692</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>849</TaxesNetInvstIncmAmt>
        <DeprecAndDpltnRevAndExpnssAmt>0</DeprecAndDpltnRevAndExpnssAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSchedule-01" referenceDocumentName="AmortizationSchedule OtherExpensesSchedule">5363</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>5296</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>67</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>84507</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>37597</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>45067</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>289000</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>289000</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>373507</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>37597</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>334067</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-190704</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>112952</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>335569</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>58355</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>58355</SavAndTempCashInvstEOYFMVAmt>
        <RcvblFromOfficersEOYAmt>0</RcvblFromOfficersEOYAmt>
        <OtherNtsAndLoansRcvblEOYAmt>0</OtherNtsAndLoansRcvblEOYAmt>
        <CorporateStockBOYAmt>4255948</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="InvestmentsCorpStockSchedul-01" referenceDocumentName="InvestmentsCorpStockSchedule">3743202</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>4487136</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>1081759</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="InvestmentsCorpBondsSchedul-01" referenceDocumentName="InvestmentsCorpBondsSchedule">1669415</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>1661712</CorporateBondsEOYFMVAmt>
        <LandBldgInvestmentsEOYAmt>0</LandBldgInvestmentsEOYAmt>
        <OtherInvestmentsBOYAmt>256022</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="InvestmentsOtherSchedule2-01" referenceDocumentName="InvestmentsOtherSchedule2">161926</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>132048</OtherInvestmentsEOYFMVAmt>
        <LandEOYAmt>0</LandEOYAmt>
        <OtherAssetsBOYAmt>0</OtherAssetsBOYAmt>
        <OtherAssetsEOYAmt>0</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt>0</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>5929298</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>5632898</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>6339251</TotalAssetsEOYFMVAmt>
        <LoansFromOfficersEOYAmt>0</LoansFromOfficersEOYAmt>
        <MortgagesAndNotesPayableEOYAmt>0</MortgagesAndNotesPayableEOYAmt>
        <OtherLiabilitiesBOYAmt>0</OtherLiabilitiesBOYAmt>
        <OtherLiabilitiesEOYAmt>0</OtherLiabilitiesEOYAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>5929298</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>5632898</CapitalStockEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>5929298</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>5632898</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>5929298</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>5632898</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>5929298</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-190704</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>5738594</SubtotalAmt>
        <OtherDecreasesAmt referenceDocumentId="OtherDecreasesSchedule-01" referenceDocumentName="OtherDecreasesSchedule">105696</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>5632898</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>Iowa State Savings Bank 1099-B</PropertyDesc>
          <HowAcquiredCd>D</HowAcquiredCd>
          <AcquiredDt>2021-07-27</AcquiredDt>
          <SoldDt>2024-07-23</SoldDt>
          <GrossSalesPriceAmt>553597</GrossSalesPriceAmt>
          <DepreciationAmt>0</DepreciationAmt>
          <CostOrOtherBasisAmt>625218</CostOrOtherBasisAmt>
          <GainOrLossAmt>-71621</GainOrLossAmt>
          <FMVAsOf123169Amt>0</FMVAsOf123169Amt>
          <AdjustedBasisAsOf123169Amt>0</AdjustedBasisAsOf123169Amt>
          <ExcessFMVOverAdjustedBssAmt>0</ExcessFMVOverAdjustedBssAmt>
          <GainsMinusExcessOrLossesAmt>-71621</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>-71621</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>1570</InvestmentIncomeExciseTaxAmt>
        <TaxUnderSection511Amt>0</TaxUnderSection511Amt>
        <SubtotalAmt>1570</SubtotalAmt>
        <SubtitleATaxAmt>0</SubtitleATaxAmt>
        <TaxBasedOnInvestmentIncomeAmt>1570</TaxBasedOnInvestmentIncomeAmt>
        <ExtsnRequestIncomeTaxPaidAmt>0</ExtsnRequestIncomeTaxPaidAmt>
        <TotalPaymentsAndCreditsAmt>0</TotalPaymentsAndCreditsAmt>
        <OriginalReturnTaxPaidAmt>0</OriginalReturnTaxPaidAmt>
        <Form2220AttachedInd referenceDocumentId="IRS2220-01" referenceDocumentName="IRS2220">X</Form2220AttachedInd>
        <EsPenaltyAmt>91</EsPenaltyAmt>
        <TaxDueAmt>1661</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>N/A</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>Iowa State Savings Bank</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>6417821009</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>401 West Adams Street</AddressLine1Txt>
          <CityNm>Creston</CityNm>
          <StateAbbreviationCd>IA</StateAbbreviationCd>
          <ZIPCd>50801</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>
        <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>
          <BusinessName>
            <BusinessNameLine1Txt>Iowa State Savings Bank</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>401 West Adams Street</AddressLine1Txt>
            <CityNm>Creston</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50801</ZIPCd>
          </USAddress>
          <TitleTxt>Trustee</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>3.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>75000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <OtherEmployeePaidOver50kCnt>0</OtherEmployeePaidOver50kCnt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
        <ContractorPaidOver50kCnt>0</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>Providing educational grants to non-profit private and public universities.</Description1Txt>
        <Expenses1Amt>289000</Expenses1Amt>
      </SummaryOfDirectChrtblActyGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>5717727</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>529509</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>6247236</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>6247236</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>93709</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>6153527</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>307676</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>307676</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>1570</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>1570</TotalTaxAmt>
        <DistributableBeforeAdjAmt>306106</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>306106</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>306106</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>334067</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>334067</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>306106</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>265785</UndistributedIncomePYAmt>
        <ExcessDistributionCyovYr5Amt>0</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>0</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>0</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>0</ExcessDistributionCyovYr2Amt>
        <TotalExcessDistributionCyovAmt>0</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>334067</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>265785</AppliedToYear1Amt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>68282</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>0</RemainingDistriFromCorpusAmt>
        <TotalCorpusAmt>0</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>237824</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>0</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>0</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>0</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>0</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>0</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>0</ExcessFromYear1Amt>
        <ExcessFromCurrentYearAmt>0</ExcessFromCurrentYearAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ContributingManagerNm>None</ContributingManagerNm>
        <ShareholderManagerNm>None</ShareholderManagerNm>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>University of Memphis</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3720 Alumni Ave</AddressLine1Txt>
            <CityNm>Memphis</CityNm>
            <StateAbbreviationCd>TN</StateAbbreviationCd>
            <ZIPCd>38152</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Education of the learning disabled</GrantOrContributionPurposeTxt>
          <Amt>28600</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Southwestern Community College</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1501 W Townline St</AddressLine1Txt>
            <CityNm>Creston</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50801</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>115400</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Iowa State University</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>Iowa State University</AddressLine1Txt>
            <CityNm>Ames</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50011</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>38000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>South Dakota State University</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>O1451 Stadium Rd</AddressLine1Txt>
            <CityNm>Brookings</CityNm>
            <StateAbbreviationCd>SD</StateAbbreviationCd>
            <ZIPCd>57007</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>6000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>University of Iowa</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>University of Iowa</AddressLine1Txt>
            <CityNm>Iowa City</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>52242</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>13000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>University of Northern Iowa</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1227 W 27th St</AddressLine1Txt>
            <CityNm>Cedar Falls</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50614</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>9000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Graceland University</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1 University Pl</AddressLine1Txt>
            <CityNm>Lamoni</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50140</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>4000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Columbia College</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1450 Alta Vista St</AddressLine1Txt>
            <CityNm>Dubuque</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>52001</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Simpson College</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>701 N C St</AddressLine1Txt>
            <CityNm>Indianola</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50125</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Northwest Missouri State University</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>800 University Drive</AddressLine1Txt>
            <CityNm>Maryville</CityNm>
            <StateAbbreviationCd>MO</StateAbbreviationCd>
            <ZIPCd>64468</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>9000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Buena Vista University</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>610 W 4th St</AddressLine1Txt>
            <CityNm>Storm Lake</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50588</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Creighton University</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2500 California Plaza</AddressLine1Txt>
            <CityNm>Omaha</CityNm>
            <StateAbbreviationCd>NE</StateAbbreviationCd>
            <ZIPCd>68178</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Des Moines University</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>8025 Grand Ave</AddressLine1Txt>
            <CityNm>West Des Moines</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50266</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Drake University</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2507 University Ave</AddressLine1Txt>
            <CityNm>Des Moines</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50311</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>8000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Grandview University</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1200 Granview Ave</AddressLine1Txt>
            <CityNm>Des Moines</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50316</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>510(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Kansas State University</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>919 Mid-Campus Dr North</AddressLine1Txt>
            <CityNm>Manhattan</CityNm>
            <StateAbbreviationCd>KS</StateAbbreviationCd>
            <ZIPCd>66506</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Kirkwood Community College</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>6301 Kirkwood Blvd SW</AddressLine1Txt>
            <CityNm>Cedar Rapids</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>52404</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Northwest Lineman College</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>7600 S Meridian Rd</AddressLine1Txt>
            <CityNm>Meridian</CityNm>
            <StateAbbreviationCd>ID</StateAbbreviationCd>
            <ZIPCd>83642</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Southeastern Community College</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1500 West Agency Rd</AddressLine1Txt>
            <CityNm>Burlington</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>52655</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Pennsylvania State University</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>201 Old Main</AddressLine1Txt>
            <CityNm>University Park</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>16802</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Illinois State University</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>100 North University Street</AddressLine1Txt>
            <CityNm>Normal</CityNm>
            <StateAbbreviationCd>IL</StateAbbreviationCd>
            <ZIPCd>61761</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>University of Kansas</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1450 Jayhawk Blvd</AddressLine1Txt>
            <CityNm>Lawrence</CityNm>
            <StateAbbreviationCd>KS</StateAbbreviationCd>
            <ZIPCd>66045</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Univership of Nebraska Lincoln</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1400 R St</AddressLine1Txt>
            <CityNm>Lincoln</CityNm>
            <StateAbbreviationCd>NE</StateAbbreviationCd>
            <ZIPCd>68588</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>University of Pittsburg</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>4200 Fifth Av</AddressLine1Txt>
            <CityNm>Pittsburg</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>15260</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>University of South Dakota</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>414 E Clark Street</AddressLine1Txt>
            <CityNm>Vermillion</CityNm>
            <StateAbbreviationCd>SD</StateAbbreviationCd>
            <ZIPCd>57069</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Wayne State College</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>111 Main St</AddressLine1Txt>
            <CityNm>Wayne</CityNm>
            <StateAbbreviationCd>NE</StateAbbreviationCd>
            <ZIPCd>68787</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>William Jewel Colleg</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>500 College Hill</AddressLine1Txt>
            <CityNm>Liberty</CityNm>
            <StateAbbreviationCd>MO</StateAbbreviationCd>
            <ZIPCd>64068</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>Morningside University</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1501 Morningside Ave</AddressLine1Txt>
            <CityNm>Sioux City</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>51106</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>501(c)(3</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Scholarship</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>289000</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>48860</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>104442</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>153302</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>153302</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="IRS990ScheduleB-01">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <GeneralRuleInd>X</GeneralRuleInd>
      <ContributorInformationGrp>
        <ContributorNum>1</ContributorNum>
        <ContributorPersonNm>Ray-Schafer Family Trust</ContributorPersonNm>
        <ContributorUSAddress>
          <AddressLine1Txt>401 West Adams Street</AddressLine1Txt>
          <CityNm>Creston</CityNm>
          <StateAbbreviationCd>IA</StateAbbreviationCd>
          <ZIPCd>50801</ZIPCd>
        </ContributorUSAddress>
        <TotalContributionsAmt>26501</TotalContributionsAmt>
        <PersonContributionInd>X</PersonContributionInd>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <InvestmentsCorpBondsSchedule documentId="InvestmentsCorpBondsSchedul-01">
      <InvestmentsCorporateBondsGrp>
        <BondNm>Fixed</BondNm>
        <EOYBookValueAmt>1669415</EOYBookValueAmt>
        <EOYFMVAmt>1661712</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestmentsCorpStockSchedul-01">
      <InvestmentsCorporateStockGrp>
        <StockNm>Equity</StockNm>
        <EOYBookValueAmt>3743202</EOYBookValueAmt>
        <EOYFMVAmt>4487136</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsOtherSchedule2 documentId="InvestmentsOtherSchedule2-01">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Preferred</CategoryOrItemTxt>
        <BookValueAmt>161926</BookValueAmt>
        <EOYFMVAmt>132048</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LegalFeesSchedule documentId="LegalFeesSchedule-01">
      <LegalFeesGrp>
        <CategoryTxt>Dickinson Bradshaw Tax Preparation</CategoryTxt>
        <LegalFeesAmt>1452</LegalFeesAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherDecreasesSchedule documentId="OtherDecreasesSchedule-01">
      <OtherDecreasesDetail>
        <Desc>Adjustment for unrecognized gains/losses</Desc>
        <Amt>105696</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSchedule-01">
      <OtherExpensesScheduleGrp>
        <Desc>Certificates</Desc>
        <RevenueAndExpensesPerBooksAmt>67</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>67</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Software License</Desc>
        <RevenueAndExpensesPerBooksAmt>5296</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>5296</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <TaxesSchedule documentId="TaxesSchedule-01">
      <TaxesDetail>
        <CategoryTxt>Federal</CategoryTxt>
        <Amt>1843</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>Foreign</CategoryTxt>
        <Amt>849</Amt>
        <NetInvestmentIncomeAmt>849</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>