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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MIDWESTERN STATE UNIVERSITY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3410 TAFT BLVD</AddressLine1Txt>
            <CityNm>WICHITA FALLS</CityNm>
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            <ZIPCd>76308</ZIPCd>
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          <RecipientFoundationStatusTxt>TAX EXEMPT UNIVERSIT</RecipientFoundationStatusTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>RANGER COLLEGE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1240 COLLEGE CIRCLE</AddressLine1Txt>
            <CityNm>RANGER</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>76470</ZIPCd>
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          <RecipientFoundationStatusTxt>TAX EXEMPT COLLEGE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS FOR EDUCATION</GrantOrContributionPurposeTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>SAM HOUSTON STATE UNIVERSITY</BusinessNameLine1Txt>
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          <RecipientUSAddress>
            <AddressLine1Txt>1806 AVENUE J</AddressLine1Txt>
            <CityNm>HUNTSVILLE</CityNm>
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          <GrantOrContributionPurposeTxt>SCHOLARSHIPS FOR EDUCATION</GrantOrContributionPurposeTxt>
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        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ST EDWARDS UNIVERSITY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3001 S CONGRESS AVE</AddressLine1Txt>
            <CityNm>AUSTIN</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>78704</ZIPCd>
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          <RecipientFoundationStatusTxt>TAX EXEMPT UNIVERSIT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS FOR EDUCATION</GrantOrContributionPurposeTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>TEMPLE COLLEGE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2600 SOUTH FIRST STREET</AddressLine1Txt>
            <CityNm>TEMPLE</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>76504</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>TAX EXEMPT COLLEGE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS FOR EDUCATION</GrantOrContributionPurposeTxt>
          <Amt>54978</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>TEXAS A&amp;M UNIVERSITY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>401 GEORGE BUSH DRIVE</AddressLine1Txt>
            <CityNm>COLLEGE STATION</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>77840</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>TAX EXEMPT UNIVERSIT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS FOR EDUCATION</GrantOrContributionPurposeTxt>
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        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>TEXAS STATE TECHNICAL COLLEGE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3801 CAMPUS DRIVE</AddressLine1Txt>
            <CityNm>WACO</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>76705</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>TAX EXEMPT COLLEGE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS FOR EDUCATION</GrantOrContributionPurposeTxt>
          <Amt>34575</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>TEXAS STATE UNIVERSITY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>601 UNIVERSITY DR</AddressLine1Txt>
            <CityNm>SAN MARCOS</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>78666</ZIPCd>
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          <RecipientFoundationStatusTxt>TAX EXEMPT UNIVERSIT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS FOR EDUCATION</GrantOrContributionPurposeTxt>
          <Amt>54875</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>TEXAS TECH UNIVERSITY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>2500 BROADWAY ADMIN BLDG 213 MS</AddressLine1Txt>
            <AddressLine2Txt>42010</AddressLine2Txt>
            <CityNm>LUBBOCK</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>79409</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>TAX EXEMPT UNIVERSIT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS FOR EDUCATION</GrantOrContributionPurposeTxt>
          <Amt>5625</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE TRAINING CENTER OF CENTRAL TEXAS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>455 E CENTRAL TEXAS EXPY</AddressLine1Txt>
            <CityNm>HARKER HEIGHTS</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>76548</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>TAX EXEMPT COLLEGE</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS FOR EDUCATION</GrantOrContributionPurposeTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE UNIVERSITY OF MARY HARDIN-BAYLOR</BusinessNameLine1Txt>
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          <RecipientUSAddress>
            <AddressLine1Txt>900 COLLEGE ST</AddressLine1Txt>
            <CityNm>BELTON</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>76513</ZIPCd>
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          <RecipientFoundationStatusTxt>TAX EXEMPT UNIVERSIT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS FOR EDUCATION</GrantOrContributionPurposeTxt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE UNIVERSITY OF NEW MEXICO</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
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            <StateAbbreviationCd>NM</StateAbbreviationCd>
            <ZIPCd>87102</ZIPCd>
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          <RecipientFoundationStatusTxt>TAX EXEMPT UNIVERSIT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS FOR EDUCATION</GrantOrContributionPurposeTxt>
          <Amt>2175</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE UNIVERSITY OF TEXAS AT AUSTIN</BusinessNameLine1Txt>
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          <RecipientUSAddress>
            <AddressLine1Txt>302 WEST 24TH STREET</AddressLine1Txt>
            <CityNm>AUSTIN</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>78705</ZIPCd>
          </RecipientUSAddress>
          <RecipientFoundationStatusTxt>TAX EXEMPT UNIVERSIT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS FOR EDUCATION</GrantOrContributionPurposeTxt>
          <Amt>42274</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE UNIVERSITY OF TEXAS AT DALLAS</BusinessNameLine1Txt>
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            <AddressLine1Txt>800 W CAMPBELL ROAD SPN10</AddressLine1Txt>
            <CityNm>RICHARDSON</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>75080</ZIPCd>
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          <RecipientFoundationStatusTxt>TAX EXEMPT UNIVERSIT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS FOR EDUCATION</GrantOrContributionPurposeTxt>
          <Amt>2550</Amt>
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        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>UNIVERSITY OF HOUSTON</BusinessNameLine1Txt>
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          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 867</AddressLine1Txt>
            <CityNm>HOUSTON</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>77001</ZIPCd>
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          <RecipientFoundationStatusTxt>TAX EXEMPT UNIVERSIT</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS FOR EDUCATION</GrantOrContributionPurposeTxt>
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        <TotalGrantOrContriApprvFutAmt>0</TotalGrantOrContriApprvFutAmt>
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        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
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        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>190344</ExclusionAmt>
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        <OtherRevenueDescribedGrp>
          <Desc>MISC REVENUE</Desc>
          <RelatedOrExemptFunctionIncmAmt>4474</RelatedOrExemptFunctionIncmAmt>
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        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>0</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>589518</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>4714</RelatedOrExemptFunctionIncmAmt>
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        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>8</LineNumberTxt>
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        <TrnsfrOfCashToNonchrtblEOInd>0</TrnsfrOfCashToNonchrtblEOInd>
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        <SalesOrExchangesOfAssetsInd>0</SalesOrExchangesOfAssetsInd>
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        <ReimbursementArrangementsInd>0</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>0</LoansOrLoanGuaranteesInd>
        <PerformanceOfServicesEtcInd>0</PerformanceOfServicesEtcInd>
        <SharingOfFacilitiesEtcInd>0</SharingOfFacilitiesEtcInd>
        <RelationshipsNonchrtblEOInd>0</RelationshipsNonchrtblEOInd>
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        <CategoryTxt>ACCOUNTING FEES</CategoryTxt>
        <Amt>15000</Amt>
        <NetInvestmentIncomeAmt>7500</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>7500</DisbursementsCharitablePrpsAmt>
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    </AccountingFeesSchedule>
    <InvestmentsCorpBondsSchedule documentId="RetDoc2044400001">
      <InvestmentsCorporateBondsGrp>
        <BondNm>CORPORATE FIXED INCOME SECURITIES</BondNm>
        <EOYBookValueAmt>1579366</EOYBookValueAmt>
        <EOYFMVAmt>1744152</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="RetDoc2018900001">
      <InvestmentsCorporateStockGrp>
        <StockNm>PUBLICALLY TRADED SECURITIES</StockNm>
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        <EOYFMVAmt>10336667</EOYFMVAmt>
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      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>GOVERNMENT SECURITIES</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>14572</BookValueAmt>
        <EOYFMVAmt>7136</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherDecreasesSchedule documentId="RetDoc2049800001">
      <OtherDecreasesDetail>
        <Desc>UNREALIZED GAIN</Desc>
        <Amt>101762</Amt>
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    <OtherExpensesSchedule documentId="RetDoc2003200001">
      <OtherExpensesScheduleGrp>
        <Desc>INVESTMENT EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>50719</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>50719</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
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      <OtherExpensesScheduleGrp>
        <Desc>EXCISE TAX</Desc>
        <RevenueAndExpensesPerBooksAmt>21247</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
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    <OtherIncomeSchedule2 documentId="RetDoc2001500001">
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        <RevenueAndExpensesPerBooksAmt>4474</RevenueAndExpensesPerBooksAmt>
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    <OtherLiabilitiesSchedule documentId="RetDoc2065700001">
      <OtherLiabilitiesDetail>
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        <BOYBookValueAmt>0</BOYBookValueAmt>
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      <TaxesDetail>
        <CategoryTxt>PAYROLL TAXES</CategoryTxt>
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        <NetInvestmentIncomeAmt>1454</NetInvestmentIncomeAmt>
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</Return>
