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        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>HANOVER COLLEGE-A IBARRA</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>517 BALL DR</AddressLine1Txt>
            <CityNm>HANOVER</CityNm>
            <StateAbbreviationCd>IN</StateAbbreviationCd>
            <ZIPCd>47243</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>2500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>HABITAT FOR HUMANITY</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>931 LANIER DRIVE</AddressLine1Txt>
            <CityNm>MADISON</CityNm>
            <StateAbbreviationCd>IN</StateAbbreviationCd>
            <ZIPCd>47250</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL DONATION</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>XAVIER UNIVERSITY-K WELLS</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>3800 VICTORY PARKWAY</AddressLine1Txt>
            <CityNm>CINCINNATI</CityNm>
            <StateAbbreviationCd>OH</StateAbbreviationCd>
            <ZIPCd>45207</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>2500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>PURDUE UNIVERSITY-SOPHIA HO</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>HOVDE HALL OF ADM</AddressLine1Txt>
            <CityNm>WEST LAFAYETTE</CityNm>
            <StateAbbreviationCd>IN</StateAbbreviationCd>
            <ZIPCd>47907</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>N/A</RecipientRelationshipTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>2500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>212000</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DividendsAndInterestFromSecDtl>
          <RelatedOrExemptFunctionIncmAmt>100856</RelatedOrExemptFunctionIncmAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <RelatedOrExemptFunctionIncmAmt>2133793</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <RelatedOrExemptFunctionIncmAmt>2234649</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>2234649</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="RetDoc1">
      <AccountingFeesDetail>
        <CategoryTxt>INDIRECT ACCOUNTING FEES</CategoryTxt>
        <Amt>1150</Amt>
        <NetInvestmentIncomeAmt>575</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>575</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <GainLossSaleOtherAssetsSch documentId="RetDoc2">
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>ISHARES TR CORE S&amp;P 500 ETF</AssetDesc>
        <AcquiredDt>2024-04</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2024-09</SoldDt>
        <GrossSalesPriceAmt>74663</GrossSalesPriceAmt>
        <BasisAmt>65694</BasisAmt>
        <TotalNetAmt>8969</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>ISHARES TR CORE S&amp;P 500 ETF</AssetDesc>
        <AcquiredDt>2024-04</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2024-12</SoldDt>
        <GrossSalesPriceAmt>98268</GrossSalesPriceAmt>
        <BasisAmt>81865</BasisAmt>
        <TotalNetAmt>16403</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>ISHARES RUSSELL 2000 ETF</AssetDesc>
        <AcquiredDt>2018-01</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2024-01</SoldDt>
        <GrossSalesPriceAmt>4153</GrossSalesPriceAmt>
        <BasisAmt>3338</BasisAmt>
        <TotalNetAmt>815</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>ISHARES RUSSELL 2000 ETF</AssetDesc>
        <AcquiredDt>2018-01</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2024-09</SoldDt>
        <GrossSalesPriceAmt>23994</GrossSalesPriceAmt>
        <BasisAmt>17327</BasisAmt>
        <TotalNetAmt>6667</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>ISHARES RUSSELL 2000 ETF</AssetDesc>
        <AcquiredDt>2018-01</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2024-12</SoldDt>
        <GrossSalesPriceAmt>9351</GrossSalesPriceAmt>
        <BasisAmt>6200</BasisAmt>
        <TotalNetAmt>3151</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>ISHARES TR MSCI ACWI EX US</AssetDesc>
        <AcquiredDt>2018-01</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2024-09</SoldDt>
        <GrossSalesPriceAmt>34477</GrossSalesPriceAmt>
        <BasisAmt>32017</BasisAmt>
        <TotalNetAmt>2460</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>ISHARES TR MSCI ACWI EX US</AssetDesc>
        <AcquiredDt>2018-01</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2024-12</SoldDt>
        <GrossSalesPriceAmt>16260</GrossSalesPriceAmt>
        <BasisAmt>15875</BasisAmt>
        <TotalNetAmt>385</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>ISHARES TR RUS MID CAP ETF</AssetDesc>
        <AcquiredDt>2018-01</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2024-01</SoldDt>
        <GrossSalesPriceAmt>7160</GrossSalesPriceAmt>
        <BasisAmt>5030</BasisAmt>
        <TotalNetAmt>2130</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>ISHARES TR RUS MID CAP ETF</AssetDesc>
        <AcquiredDt>2018-01</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2024-09</SoldDt>
        <GrossSalesPriceAmt>41794</GrossSalesPriceAmt>
        <BasisAmt>25969</BasisAmt>
        <TotalNetAmt>15825</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>ISHARES TR RUS MID CAP ETF</AssetDesc>
        <AcquiredDt>2018-01</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2024-12</SoldDt>
        <GrossSalesPriceAmt>16235</GrossSalesPriceAmt>
        <BasisAmt>9349</BasisAmt>
        <TotalNetAmt>6886</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>SPDR S&amp;P ETF TRUST</AssetDesc>
        <AcquiredDt>2002-11</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2024-01</SoldDt>
        <GrossSalesPriceAmt>73660</GrossSalesPriceAmt>
        <BasisAmt>14027</BasisAmt>
        <TotalNetAmt>59633</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>SPDR S&amp;P ETF TRUST</AssetDesc>
        <AcquiredDt>2002-11</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2024-02</SoldDt>
        <GrossSalesPriceAmt>41992</GrossSalesPriceAmt>
        <BasisAmt>7761</BasisAmt>
        <TotalNetAmt>34231</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>SPDR S&amp;P ETF TRUST</AssetDesc>
        <AcquiredDt>2002-11</AcquiredDt>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <SoldDt>2024-04</SoldDt>
        <GrossSalesPriceAmt>2416918</GrossSalesPriceAmt>
        <BasisAmt>440680</BasisAmt>
        <TotalNetAmt>1976238</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
    </GainLossSaleOtherAssetsSch>
    <InvestmentsCorpBondsSchedule documentId="RetDoc3">
      <InvestmentsCorporateBondsGrp>
        <BondNm>GERMAN AMERICAN</BondNm>
        <EOYBookValueAmt>1153460</EOYBookValueAmt>
        <EOYFMVAmt>1100877</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc4">
      <InvestmentsCorporateStockGrp>
        <StockNm>GERMAN AMERICAN</StockNm>
        <EOYBookValueAmt>2723744</EOYBookValueAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <EOYFMVAmt>3334474</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <OtherExpensesSchedule documentId="RetDoc5">
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INVESTMENT AGENCY FEES</Desc>
        <RevenueAndExpensesPerBooksAmt>28848</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>28848</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE PREMIUM</Desc>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <TaxesSchedule documentId="RetDoc6">
      <TaxesDetail>
        <CategoryTxt>FEDERAL TAXES</CategoryTxt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>ESTIMATED TAX PAYMENTS</CategoryTxt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES</CategoryTxt>
        <Amt>1119</Amt>
        <NetInvestmentIncomeAmt>1119</NetInvestmentIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>ENTITY REPORT</CategoryTxt>
        <Amt>23</Amt>
        <NetInvestmentIncomeAmt>23</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>