﻿<?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>2025-06-13T08:38:18-04:00</ReturnTs>
    <TaxPeriodEndDt>2024-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>994625061</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>CRI ADVISORS LLC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>203 N HOUSTON AVE</AddressLine1Txt>
        <CityNm>LIVINGSTON</CityNm>
        <StateAbbreviationCd>TX</StateAbbreviationCd>
        <ZIPCd>77351</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2024-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>465374393</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>WEBSTER EDUCATIONAL FOUNDATION</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>WEBS</BusinessNameControlTxt>
      <PhoneNum>9363277181</PhoneNum>
      <USAddress>
        <AddressLine1Txt>306 NORTH WASHINGTON</AddressLine1Txt>
        <CityNm>LIVINGSTON</CityNm>
        <StateAbbreviationCd>TX</StateAbbreviationCd>
        <ZIPCd>77351</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>GENE BUSH</PersonNm>
      <PersonTitleTxt>PRES/DIRECTOR</PersonTitleTxt>
      <SignatureDt>2025-06-12</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>true</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>MATTHEW P BROYLES CPA</PreparerPersonNm>
      <PTIN>P01550920</PTIN>
      <PhoneNum>9363273166</PhoneNum>
      <PreparationDt>2025-06-12</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2024</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="11">
    <IRS990PF documentId="RetDoc13" referenceDocumentId="RetDoc12">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>7108055</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>10379</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>10379</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>142211</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>142211</DividendsNetInvstIncmAmt>
        <GrossRentsRevAndExpnssAmt>13470</GrossRentsRevAndExpnssAmt>
        <GrossRentsNetInvstIncmAmt>13470</GrossRentsNetInvstIncmAmt>
        <NetRentalIncomeOrLossAmt>13470</NetRentalIncomeOrLossAmt>
        <NetGainSaleAstRevAndExpnssAmt>9</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>975000</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>9</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="RetDoc8">211386</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>211386</OtherIncomeNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>377455</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>377455</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>60000</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>30000</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>30000</CompOfcrDirTrstDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc2">4668</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>1867</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>2801</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc10">9271</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>9271</OtherProfFeesNetInvstIncmAmt>
        <InterestRevAndExpnssAmt>1882</InterestRevAndExpnssAmt>
        <InterestNetInvstIncmAmt>1882</InterestNetInvstIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc11">21569</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>17114</TaxesNetInvstIncmAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc6">13852</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>13801</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>51</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>111242</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>73935</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>32852</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>337588</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>337588</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>448830</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>73935</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>370440</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-71375</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>303520</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>263864</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>267487</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>267487</SavAndTempCashInvstEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>6834743</USGovernmentObligationsBOYAmt>
        <USGovernmentObligationsEOYAmt referenceDocumentId="RetDoc3">6604200</USGovernmentObligationsEOYAmt>
        <USGovtObligationsEOYFMVAmt>6333288</USGovtObligationsEOYFMVAmt>
        <LandBldgEquipCostOrOtherBssAmt>4451618</LandBldgEquipCostOrOtherBssAmt>
        <LandBOYAmt>4451618</LandBOYAmt>
        <LandEOYAmt referenceDocumentId="RetDoc4">4451618</LandEOYAmt>
        <LandEOYFMVAmt>466200</LandEOYFMVAmt>
        <OtherAssetsBOYAmt referenceDocumentId="RetDoc5">41080</OtherAssetsBOYAmt>
        <OtherAssetsEOYAmt referenceDocumentId="RetDoc5">41080</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt referenceDocumentId="RetDoc5">41080</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>11591305</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>11364385</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>7108055</TotalAssetsEOYFMVAmt>
        <GrantsPayableBOYAmt>369329</GrantsPayableBOYAmt>
        <GrantsPayableEOYAmt>347694</GrantsPayableEOYAmt>
        <OtherLiabilitiesBOYAmt referenceDocumentId="RetDoc9">160385</OtherLiabilitiesBOYAmt>
        <OtherLiabilitiesEOYAmt referenceDocumentId="RetDoc9">4840</OtherLiabilitiesEOYAmt>
        <TotalLiabilitiesBOYAmt>529714</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>352534</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>9111994</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>9111994</CapitalStockEOYAmt>
        <RetainedEarningBOYAmt>1949597</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>1899857</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>11061591</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>11011851</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>11591305</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>11364385</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>11061591</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-71375</ExcessRevenueOverExpensesAmt>
        <OtherIncreasesAmt referenceDocumentId="RetDoc7">21635</OtherIncreasesAmt>
        <SubtotalAmt>11011851</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>11011851</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>225,000 FHLB</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2016-05-31</AcquiredDt>
          <SoldDt>2024-03-08</SoldDt>
          <GrossSalesPriceAmt>225000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>225000</CostOrOtherBasisAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>300,000 FARM</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2017-08-31</AcquiredDt>
          <SoldDt>2024-06-30</SoldDt>
          <GrossSalesPriceAmt>300000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>301476</CostOrOtherBasisAmt>
          <GainOrLossAmt>-1476</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-1476</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>450,000 FNMA</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2019-07-31</AcquiredDt>
          <SoldDt>2024-07-31</SoldDt>
          <GrossSalesPriceAmt>450000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>448515</CostOrOtherBasisAmt>
          <GainOrLossAmt>1485</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>1485</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>9</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>4219</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>4219</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>4219</TaxBasedOnInvestmentIncomeAmt>
        <Form2220AttachedInd referenceDocumentId="RetDoc1">X</Form2220AttachedInd>
        <EsPenaltyAmt>236</EsPenaltyAmt>
        <TaxDueAmt>4455</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>TX</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <IndividualWithBooksNm>SHELLY SITTON</IndividualWithBooksNm>
        <PhoneNum>9363277181</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>306 NORTH WASHINGTON</AddressLine1Txt>
          <CityNm>LIVINGSTON</CityNm>
          <StateAbbreviationCd>TX</StateAbbreviationCd>
          <ZIPCd>77351</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>true</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <TransactionsFailToQlfyAsExcInd>false</TransactionsFailToQlfyAsExcInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>GENE BUSH</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 1617</AddressLine1Txt>
            <CityNm>LIVINGSTON</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>77351</ZIPCd>
          </USAddress>
          <TitleTxt>PRES/DIRECTO</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>8.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>12000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ANTHONY PAGE</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 500</AddressLine1Txt>
            <CityNm>CORRIGAN</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>75939</ZIPCd>
          </USAddress>
          <TitleTxt>VP/DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>10.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>12000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>SHELLY SITTON</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 126</AddressLine1Txt>
            <CityNm>LIVINGSTON</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>77351</ZIPCd>
          </USAddress>
          <TitleTxt>SECRETARY</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>10.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>12000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JANAN MOORE</PersonNm>
          <USAddress>
            <AddressLine1Txt>355 RAYON ROAD WEST</AddressLine1Txt>
            <CityNm>LIVINGSTON</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>77351</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>5.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>12000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MATTHEW PAGE</PersonNm>
          <USAddress>
            <AddressLine1Txt>PO BOX 500</AddressLine1Txt>
            <CityNm>CORRIGAN</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>75939</ZIPCd>
          </USAddress>
          <TitleTxt>DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>5.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>12000</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>N/A</Description1Txt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>6291850</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>368873</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>507280</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>7168003</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>7168003</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>107520</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>7060483</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>353024</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>353024</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>4219</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>4219</TotalTaxAmt>
        <DistributableBeforeAdjAmt>348805</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>348805</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>348805</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>370440</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>370440</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>348805</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>369329</UndistributedIncomePYAmt>
        <QualifyingDistributionsAmt>370440</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>369329</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>1111</AppliedToCurrentYearAmt>
        <UndistributedIncomeCYAmt>347694</UndistributedIncomeCYAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>FLOYD BUSH</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>306 N WASHINGTON</AddressLine1Txt>
            <CityNm>LIVINGSTON</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>77351</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>9363277181</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>SEE STATEMENT FOR LINE 2A &amp; LINE 2D</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>SEE STATEMENT FOR LINE 2A &amp; LINE 2D</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>RESTRICTED TO ENTITIES THAT WILL PROMOTE, ASSIST AND FURTHER THE CULTURAL, ARTISTIC, EDUCATIONAL, LITERARY, RECREATIONAL, CHARITABLE, AND HISTORICAL ACTIVITIES, AND FACILITIES CARRIED ON OR MAINTAINED BY THE CITIES OF LIVINGSTON AND CORRIGAN, TEXAS AND POLK COUNTY, TEXAS FOR THE RESIDENTS OF SAID CITIES AND COUNTY.</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>BIG SANDY ISD</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>RT 3 BOX 422</AddressLine1Txt>
            <CityNm>LIVINGSTON</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>77351</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS</GrantOrContributionPurposeTxt>
          <Amt>69838</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>GOODRICH ISD</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 789</AddressLine1Txt>
            <CityNm>GOODRICH</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>77351</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS</GrantOrContributionPurposeTxt>
          <Amt>18000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>LEGGETT ISD</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 69</AddressLine1Txt>
            <CityNm>LEGGETT</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>77350</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS</GrantOrContributionPurposeTxt>
          <Amt>21500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>LIVINGSTON ISD</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>907 W CHURCH ST</AddressLine1Txt>
            <CityNm>LIVINGSTON</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>77351</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS</GrantOrContributionPurposeTxt>
          <Amt>169500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ONALASKA ISD</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 2289</AddressLine1Txt>
            <CityNm>ONALASKA</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>77360</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS</GrantOrContributionPurposeTxt>
          <Amt>43750</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>BOYS &amp; GIRLS CLUB OF POLK COUNTY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1035 LIBERTY AVE</AddressLine1Txt>
            <CityNm>LIVINGSTON</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>77351</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS</GrantOrContributionPurposeTxt>
          <Amt>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CORRIGAN AREA HERITAGE CENTER</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 388</AddressLine1Txt>
            <CityNm>CORRIGAN</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>75939</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>GENERAL OPERATIONS</GrantOrContributionPurposeTxt>
          <Amt>5000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>337588</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>10379</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>142211</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <NetRntlIncmReNotDebtFincdProp>
          <ExclusionCd>16</ExclusionCd>
          <ExclusionAmt>13470</ExclusionAmt>
        </NetRntlIncmReNotDebtFincdProp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>9</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <OtherRevenueDescribedGrp>
          <Desc>HUNTING LEASE INCOME</Desc>
          <ExclusionCd>16</ExclusionCd>
          <ExclusionAmt>36536</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <OtherRevenueDescribedGrp>
          <Desc>OIL &amp; GAS ROYALTIES</Desc>
          <ExclusionCd>16</ExclusionCd>
          <ExclusionAmt>174850</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>377455</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>377455</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>AXLEY &amp; RODE, LLP</CategoryTxt>
        <Amt>4668</Amt>
        <NetInvestmentIncomeAmt>1867</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2801</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsGovtObligationsSch documentId="RetDoc3">
      <USGovtObligationsBookVlEOYAmt>6604200</USGovtObligationsBookVlEOYAmt>
      <USGovtObligationsEOYFMVAmt>6333288</USGovtObligationsEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <LandEtcSchedule2 documentId="RetDoc4">
      <LandEtcGrp>
        <CategoryOrItemTxt>LAND</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>4451618</CostOrOtherBasisAmt>
        <BookValueAmt>4451618</BookValueAmt>
        <EOYFMVAmt>466200</EOYFMVAmt>
      </LandEtcGrp>
    </LandEtcSchedule2>
    <OtherAssetsSchedule documentId="RetDoc5">
      <OtherAssetsScheduleGrp>
        <Desc>PREPAID INCOME TAX</Desc>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>ROYALTY INTERESTS</Desc>
        <BOYBookValueAmt>41080</BOYBookValueAmt>
        <EOYBookValueAmt>41080</EOYBookValueAmt>
        <EOYFMVAmt>41080</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="RetDoc6">
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>102</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>51</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>51</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE EXPENSE</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>TRACT EXPENSE</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ROYALTY-PRODUCTION TAXES</Desc>
        <RevenueAndExpensesPerBooksAmt>4565</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>4565</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ROYALTY - OTHER EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>9185</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>9185</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc8">
      <OtherIncomeDetail>
        <Desc>HUNTING LEASE INCOME</Desc>
        <RevenueAndExpensesPerBooksAmt>36536</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>36536</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>OIL &amp; GAS ROYALTIES</Desc>
        <RevenueAndExpensesPerBooksAmt>174850</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>174850</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherIncreasesSchedule documentId="RetDoc7">
      <OtherIncreasesDetail>
        <Desc>DECREASE IN GRANTS PAYABLE</Desc>
        <Amt>21635</Amt>
      </OtherIncreasesDetail>
    </OtherIncreasesSchedule>
    <OtherLiabilitiesSchedule documentId="RetDoc9">
      <OtherLiabilitiesDetail>
        <Desc>CSB LOAN</Desc>
        <BOYBookValueAmt>160000</BOYBookValueAmt>
      </OtherLiabilitiesDetail>
      <OtherLiabilitiesDetail>
        <Desc>EXCISE TAX PAYABLE</Desc>
        <BOYBookValueAmt>385</BOYBookValueAmt>
        <EOYBookValueAmt>4840</EOYBookValueAmt>
      </OtherLiabilitiesDetail>
    </OtherLiabilitiesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc10">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>FORESTRY MANAGEMENT</CategoryTxt>
        <Amt>9271</Amt>
        <NetInvestmentIncomeAmt>9271</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc11">
      <TaxesDetail>
        <CategoryTxt>EXCISE TAX</CategoryTxt>
        <Amt>4455</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>PROPERTY TAXES</CategoryTxt>
        <Amt>17114</Amt>
        <NetInvestmentIncomeAmt>17114</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>