﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2024v5.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2025-07-22T09:54:03-04:00</ReturnTs>
    <TaxPeriodEndDt>2025-06-30</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>421263144</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>ROSENE PICKHINKE PETERS &amp; CO PC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>PO BOX 1333</AddressLine1Txt>
        <CityNm>STORM LAKE</CityNm>
        <StateAbbreviationCd>IA</StateAbbreviationCd>
        <ZIPCd>50588</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2024-07-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>426507733</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>JEPSEN TRUST</BusinessNameLine1Txt>
        <BusinessNameLine2Txt>C/O CITIZENS FIRST NATIONAL BANK</BusinessNameLine2Txt>
      </BusinessName>
      <BusinessNameControlTxt>JEPS</BusinessNameControlTxt>
      <PhoneNum>7122133613</PhoneNum>
      <USAddress>
        <AddressLine1Txt>PO BOX 1227</AddressLine1Txt>
        <CityNm>STORM LAKE</CityNm>
        <StateAbbreviationCd>IA</StateAbbreviationCd>
        <ZIPCd>50588</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>CITIZENS FIRST NATIONAL BANK</PersonNm>
      <PersonTitleTxt>TRUSTEE</PersonTitleTxt>
      <PhoneNum>7127325440</PhoneNum>
      <SignatureDt>2025-07-21</SignatureDt>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>true</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>STEVEN PETERS</PreparerPersonNm>
      <PTIN>P00032378</PTIN>
      <PhoneNum>7127321419</PhoneNum>
      <PreparationDt>2025-07-22</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2024</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="8">
    <IRS990PF documentId="RetDoc11">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>646852</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>70</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>70</InterestOnSavNetInvstIncmAmt>
        <InterestOnSavingsAdjNetIncmAmt>70</InterestOnSavingsAdjNetIncmAmt>
        <DividendsRevAndExpnssAmt>22317</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>22317</DividendsNetInvstIncmAmt>
        <DividendsAdjNetIncmAmt>22317</DividendsAdjNetIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>18543</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>78221</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>18543</CapGainNetIncmNetInvstIncmAmt>
        <NetSTCapitalGainAdjNetIncmAmt>727</NetSTCapitalGainAdjNetIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="RetDoc7">500</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeAdjNetIncmAmt>500</OtherIncomeAdjNetIncmAmt>
        <TotalRevAndExpnssAmt>41430</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>40930</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>23614</TotalAdjNetIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>5489</CompOfcrDirTrstRevAndExpnssAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="RetDoc5">500</LegalFeesRevAndExpnssAmt>
        <LegalFeesDsbrsChrtblAmt>500</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2">875</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesChrtblPrpsAmt>875</AccountingFeesChrtblPrpsAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc8">355</TaxesRevAndExpnssAmt>
        <TaxesDsbrsChrtblAmt>355</TaxesDsbrsChrtblAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc6">90</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesDsbrsChrtblAmt>90</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>7309</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>0</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>1820</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>23800</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>23800</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>31109</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>0</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>25620</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>10321</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>40930</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>23614</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>13536</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>4247</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>4247</SavAndTempCashInvstEOYFMVAmt>
        <CorporateStockBOYAmt>300348</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc4">288147</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>386766</CorporateStockEOYFMVAmt>
        <CorporateBondsBOYAmt>228460</CorporateBondsBOYAmt>
        <CorporateBondsEOYAmt referenceDocumentId="RetDoc3">260271</CorporateBondsEOYAmt>
        <CorporateBondsEOYFMVAmt>255839</CorporateBondsEOYFMVAmt>
        <TotalAssetsBOYAmt>542344</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>552665</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>646852</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>558940</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>558940</CapitalStockEOYAmt>
        <RetainedEarningBOYAmt>-16596</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>-6275</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>542344</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>552665</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>542344</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>552665</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>542344</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>10321</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>552665</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>552665</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>VANGUARD WELLINGTON</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2024-12-31</AcquiredDt>
          <SoldDt>2025-06-27</SoldDt>
          <GrossSalesPriceAmt>16000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>15273</CostOrOtherBasisAmt>
          <GainOrLossAmt>727</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>727</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>WALGREENS BOOTS ALLIANCE</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2016-06-23</AcquiredDt>
          <SoldDt>2024-11-19</SoldDt>
          <GrossSalesPriceAmt>20000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>20000</CostOrOtherBasisAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>BANK OF AMERICA</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-08-20</AcquiredDt>
          <SoldDt>2025-01-29</SoldDt>
          <GrossSalesPriceAmt>25000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>24405</CostOrOtherBasisAmt>
          <GainOrLossAmt>595</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>595</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>18543</CapitalGainNetIncomeAmt>
        <NetShortTermCapitalGainLossAmt>727</NetShortTermCapitalGainLossAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>569</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>569</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>569</TaxBasedOnInvestmentIncomeAmt>
        <Form2220AttachedInd referenceDocumentId="RetDoc1">X</Form2220AttachedInd>
        <EsPenaltyAmt>16</EsPenaltyAmt>
        <TaxDueAmt>585</TaxDueAmt>
      </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>IA</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>CITIZENS FIRST NATL BANK</IndividualWithBooksNm>
        <PhoneNum>7127325440</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>PO BOX 1227</AddressLine1Txt>
          <CityNm>STORM LAKE</CityNm>
          <StateAbbreviationCd>IA</StateAbbreviationCd>
          <ZIPCd>50588</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>
          <BusinessName>
            <BusinessNameLine1Txt>CITIZENS FIRST NATIONAL BANK</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>PO BOX 1227</AddressLine1Txt>
            <CityNm>STORM LAKE</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50588</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>5489</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>N/A</Description1Txt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>620016</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>8891</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>628907</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>628907</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>9434</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>619473</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>30974</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>30974</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>569</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>569</TotalTaxAmt>
        <DistributableBeforeAdjAmt>30405</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>30405</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>30405</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>25620</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>25620</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>30405</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>23746</UndistributedIncomePYAmt>
        <QualifyingDistributionsAmt>25620</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>23746</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>1874</AppliedToCurrentYearAmt>
        <UndistributedIncomeCYAmt>28531</UndistributedIncomeCYAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>CITIZENS FIRST NATIONAL BANK</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 1227</AddressLine1Txt>
            <CityNm>STORM LAKE</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>50588</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>7127325440</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>WRITTEN REQUEST INCLUDING SCOPE OF PROJECT, FINANCIAL COST, AND NUMBER OF YOUTH BENEFITING FROM THE PROJECT.</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>NONE</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>FUNDS ARE DISTRIBUTED SOLELY FOR THE BENEFIT OF THE YOUTH OF HOLSTEIN, IA</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>CITY OF HOLSTEIN - BALL FIELD</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>119 S MAIN STREET</AddressLine1Txt>
            <CityNm>HOLSTEIN</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>51025</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>CATCHERS EQUIPMENT</GrantOrContributionPurposeTxt>
          <Amt>2500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>KINDERFEST</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>119 S MAIN STREET</AddressLine1Txt>
            <CityNm>HOLSTEIN</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>51025</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>KINDERFEST</GrantOrContributionPurposeTxt>
          <Amt>6500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>STUBBS MEM LIBRARY GRANT</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>209 E 2ND</AddressLine1Txt>
            <CityNm>HOLSTEIN</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>51025</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SUMMER READING PROGRAM</GrantOrContributionPurposeTxt>
          <Amt>1800</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>LITTLE RAPTOR DAYCARE</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>519 E MAPLE STREET</AddressLine1Txt>
            <CityNm>HOLSTEIN</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>51025</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>EQUIPMENT</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>CITY OF HOLSTEIN - PARK</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>119 S MAIN STREET</AddressLine1Txt>
            <CityNm>HOLSTEIN</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>51025</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>COURT RESURFACING</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>23800</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>70</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>22317</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>17948</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>595</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <OtherRevenueDescribedGrp>
          <Desc>REFUND OF TAX</Desc>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>500</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>40835</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>595</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>41430</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>
    <AccountingFeesSchedule documentId="RetDoc2">
      <AccountingFeesDetail>
        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>875</Amt>
        <DisbursementsCharitablePrpsAmt>875</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsCorpBondsSchedule documentId="RetDoc3">
      <InvestmentsCorporateBondsGrp>
        <BondNm>CORPORATE BONDS</BondNm>
        <EOYBookValueAmt>260271</EOYBookValueAmt>
        <EOYFMVAmt>255839</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc4">
      <InvestmentsCorporateStockGrp>
        <StockNm>CORPORATE STOCK</StockNm>
        <EOYBookValueAmt>288147</EOYBookValueAmt>
        <EOYFMVAmt>386766</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <LegalFeesSchedule documentId="RetDoc5">
      <LegalFeesGrp>
        <CategoryTxt>LEGAL FEES</CategoryTxt>
        <LegalFeesAmt>500</LegalFeesAmt>
        <DisbursementsCharitablePrpsAmt>500</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherExpensesSchedule documentId="RetDoc6">
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>COURT COSTS</Desc>
        <RevenueAndExpensesPerBooksAmt>90</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>90</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc7">
      <OtherIncomeDetail>
        <Desc>REFUND OF TAX</Desc>
        <RevenueAndExpensesPerBooksAmt>500</RevenueAndExpensesPerBooksAmt>
        <AdjustedNetIncomeAmt>500</AdjustedNetIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <TaxesSchedule documentId="RetDoc8">
      <TaxesDetail>
        <CategoryTxt>EXCISE TAX</CategoryTxt>
        <Amt>355</Amt>
        <DisbursementsCharitablePrpsAmt>355</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>