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            <AddressLine1Txt>9800 FREDERICKSBURG RD</AddressLine1Txt>
            <CityNm>SAN ANTONIO</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>782880115</ZIPCd>
          </USAddress>
          <TitleTxt>FORMER DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.25</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JEFFREY WALLACE</PersonNm>
          <USAddress>
            <AddressLine1Txt>9800 FREDERICKSBURG RD</AddressLine1Txt>
            <CityNm>SAN ANTONIO</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>782880115</ZIPCd>
          </USAddress>
          <TitleTxt>FORMER DIRECTOR</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.25</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>KASEY KIMBALL</PersonNm>
          <USAddress>
            <AddressLine1Txt>9800 FREDERICKSBURG RD</AddressLine1Txt>
            <CityNm>SAN ANTONIO</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>782880115</ZIPCd>
          </USAddress>
          <TitleTxt>FORMER ASSISTANT SECRETARY</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.25</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp />
      <SumOfProgramRelatedInvstGrp />
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>150166308</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>4367754</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>154534062</TotalFMVOfUnusedAssetsAmt>
        <AcquisitionIndebtednessAmt>0</AcquisitionIndebtednessAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>154534062</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>2318011</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>152216051</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>7610803</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>7610803</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>121942</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>121942</TotalTaxAmt>
        <DistributableBeforeAdjAmt>7488861</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>7488861</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>7488861</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>6923558</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>0</ProgramRelatedInvstTotalAmt>
        <CharitableAssetsAcquisPaidAmt>0</CharitableAssetsAcquisPaidAmt>
        <SetAsideSuitabilityTestAmt>0</SetAsideSuitabilityTestAmt>
        <SetAsideCashDistriTestAmt>0</SetAsideCashDistriTestAmt>
        <QualifyingDistributionsAmt>6923558</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>7488861</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>0</UndistributedIncomePYAmt>
        <PriorYear1Yr>2019</PriorYear1Yr>
        <PriorYear2Yr>2018</PriorYear2Yr>
        <PriorYear3Yr>2017</PriorYear3Yr>
        <TotalForPriorYearsAmt>0</TotalForPriorYearsAmt>
        <ExcessDistributionCyovYr5Amt>1437633</ExcessDistributionCyovYr5Amt>
        <ExcessDistributionCyovYr4Amt>3183230</ExcessDistributionCyovYr4Amt>
        <ExcessDistributionCyovYr3Amt>11254603</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>2878837</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>8450166</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>27204469</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>6923558</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>0</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>6923558</AppliedToCurrentYearAmt>
        <RemainingDistriFromCorpusAmt>0</RemainingDistriFromCorpusAmt>
        <ExcessDistriCyovAppCYCorpusAmt>565303</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>565303</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>26639166</TotalCorpusAmt>
        <PriorYearUndistributedIncmAmt>0</PriorYearUndistributedIncmAmt>
        <Taxable1Amt>0</Taxable1Amt>
        <Taxable2Amt>0</Taxable2Amt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovFromYr5Amt>872330</ExcessDistriCyovFromYr5Amt>
        <ExcessDistriCyovToNextYrAmt>25766836</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear4Amt>3183230</ExcessFromYear4Amt>
        <ExcessFromYear3Amt>11254603</ExcessFromYear3Amt>
        <ExcessFromYear2Amt>2878837</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>8450166</ExcessFromYear1Amt>
      </UndistributedIncomeGrp>
      <PrivateOperatingFoundationsGrp></PrivateOperatingFoundationsGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>VARIOUS ORGANIZATIONS</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>SEE ATTACHMENT 14</AddressLine1Txt>
            <CityNm>VARIOUS</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>78269</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>VARIOUS ORGANIZATIONS - SEE ATTACHMENT 14</GrantOrContributionPurposeTxt>
          <Amt>6900000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>6900000</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <FeesContractsFromGovtAgGrp />
        <MembershipDuesAndAssmntGrp />
        <IntOnSavAndTempCashInvstGrp />
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>4064014</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <NetRntlIncmReDebtFincdPropGrp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncomePersonalPropGrp />
        <OtherInvestmentIncomeGrp />
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>4714030</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <NetIncomeLossFromSpecialEvtGrp />
        <GrossProfitLossSlsOfInvntryGrp />
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>8778044</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>8778044</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>
    <DepreciationSchedule documentId="DepreciationSch" />
    <InvestmentsOtherSchedule2 documentId="InvOtherSch2">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>PIMCO COMMODITIESPLUS STRAT FD</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>4840662</BookValueAmt>
        <EOYFMVAmt>2846965</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VANGUARD DIVIDEND APPR ETF</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>2910804</BookValueAmt>
        <EOYFMVAmt>8504030</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VANGUARD WHITEHALL FDS HI DIV</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>3812707</BookValueAmt>
        <EOYFMVAmt>8462511</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VANGUARD INTL EQUITY INDEX FD</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>26218855</BookValueAmt>
        <EOYFMVAmt>35253587</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VANGUARD S&amp;P 500 ETF</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>9010043</BookValueAmt>
        <EOYFMVAmt>31138355</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VANGUARD EXTENDED MARKET ETF</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>2122655</BookValueAmt>
        <EOYFMVAmt>11020789</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>USAA ETF TR CORE INTERMEDIATE</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>51203924</BookValueAmt>
        <EOYFMVAmt>54798645</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>USAA ETF TR CORE SHRT BD</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>0</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VROOM INC. SHARES</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>0</BookValueAmt>
        <EOYFMVAmt>585779</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpensesScheduleGrp>
        <Desc>INSURANCE EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>23558</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>23558</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherProfessionalFeesSchedule documentId="OthProfFeesSch">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT MANAGEMENT FEES</CategoryTxt>
        <Amt>5259</Amt>
        <NetInvestmentIncomeAmt>5259</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule">
      <TaxesDetail>
        <CategoryTxt>EXCISE TAX PAYMENTS</CategoryTxt>
        <Amt>106000</Amt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>
