﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2019v5.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2021-10-15T09:33:14-05:00</ReturnTs>
    <TaxPeriodEndDt>2019-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>750767305</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>AXLEY &amp; RODE LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>203 N HOUSTON AVE</AddressLine1Txt>
        <CityNm>LIVINGSTON</CityNm>
        <StateAbbreviationCd>TX</StateAbbreviationCd>
        <ZIPCd>77351</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2019-01-01</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>2021-07-01</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>RHONDA S WELLS CPA</PreparerPersonNm>
      <PTIN>P00030826</PTIN>
      <PhoneNum>9363273166</PhoneNum>
      <PreparationDt>2021-07-01</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2019</TaxYr>
    <BuildTS>2022-09-23 18:48:47Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="10">
    <IRS990PF documentId="RetDoc11">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>14247097</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>6765</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>6765</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>131090</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>131090</DividendsNetInvstIncmAmt>
        <GrossRentsRevAndExpnssAmt>29222</GrossRentsRevAndExpnssAmt>
        <GrossRentsNetInvstIncmAmt>29222</GrossRentsNetInvstIncmAmt>
        <NetRentalIncomeOrLossAmt>29222</NetRentalIncomeOrLossAmt>
        <NetGainSaleAstRevAndExpnssAmt>125528</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>915667</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>125528</CapGainNetIncmNetInvstIncmAmt>
        <OtherIncomeRevAndExpnssAmt referenceDocumentId="RetDoc7">778893</OtherIncomeRevAndExpnssAmt>
        <OtherIncomeNetInvstIncmAmt>778893</OtherIncomeNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>1071498</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>1071498</TotalNetInvstIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>33000</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>16500</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>16500</CompOfcrDirTrstDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc1">3000</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>1500</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesChrtblPrpsAmt>1500</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc8">14617</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>14617</OtherProfFeesNetInvstIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc9">31270</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>21174</TaxesNetInvstIncmAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc6">8122</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>8065</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>57</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>90009</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>61856</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>18057</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>504133</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>504133</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>594142</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>61856</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>522190</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>477356</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>1009642</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>806218</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>554303</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>554303</SavAndTempCashInvstEOYFMVAmt>
        <USGovernmentObligationsBOYAmt>6395382</USGovernmentObligationsBOYAmt>
        <USGovernmentObligationsEOYAmt referenceDocumentId="RetDoc2">7244237</USGovernmentObligationsEOYAmt>
        <USGovtObligationsEOYFMVAmt>7296255</USGovtObligationsEOYFMVAmt>
        <LandBldgEquipCostOrOtherBssAmt>4149699</LandBldgEquipCostOrOtherBssAmt>
        <LandBOYAmt>4290250</LandBOYAmt>
        <LandEOYAmt referenceDocumentId="RetDoc3">4149699</LandEOYAmt>
        <LandEOYFMVAmt>6348941</LandEOYFMVAmt>
        <OtherAssetsBOYAmt referenceDocumentId="RetDoc4">46033</OtherAssetsBOYAmt>
        <OtherAssetsEOYAmt referenceDocumentId="RetDoc4">47598</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt referenceDocumentId="RetDoc4">47598</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>11537883</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>11995837</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>14247097</TotalAssetsEOYFMVAmt>
        <GrantsPayableBOYAmt>373315</GrantsPayableBOYAmt>
        <GrantsPayableEOYAmt>531715</GrantsPayableEOYAmt>
        <TotalLiabilitiesBOYAmt>373315</TotalLiabilitiesBOYAmt>
        <TotalLiabilitiesEOYAmt>531715</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>9131396</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>9111994</CapitalStockEOYAmt>
        <RetainedEarningBOYAmt>2033172</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>2352128</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>11164568</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>11464122</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>11537883</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>11995837</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>11164568</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>477356</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>11641924</SubtotalAmt>
        <OtherDecreasesAmt referenceDocumentId="RetDoc5">177802</OtherDecreasesAmt>
        <TotNetAstOrFundBalancesEOYAmt>11464122</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>300,000 FHLMC 3137EADG1</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2014-12-31</AcquiredDt>
          <SoldDt>2019-05-31</SoldDt>
          <GrossSalesPriceAmt>300000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>300000</CostOrOtherBasisAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>250,000 FHLB 313379RB7</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2014-12-31</AcquiredDt>
          <SoldDt>2019-06-30</SoldDt>
          <GrossSalesPriceAmt>350000</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>349587</CostOrOtherBasisAmt>
          <GainOrLossAmt>413</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>413</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>TIMBER</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2014-12-31</AcquiredDt>
          <SoldDt>2019-08-28</SoldDt>
          <GrossSalesPriceAmt>81363</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>81363</CostOrOtherBasisAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>40.68 ACRES POLK COUNTY, TEXAS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2014-12-31</AcquiredDt>
          <SoldDt>2019-09-17</SoldDt>
          <GrossSalesPriceAmt>142380</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>48986</CostOrOtherBasisAmt>
          <GainOrLossAmt>93394</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>93394</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>6.211 ACRES POLK COUNTY, TEXAS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2014-12-31</AcquiredDt>
          <SoldDt>2019-09-17</SoldDt>
          <GrossSalesPriceAmt>41924</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>10203</CostOrOtherBasisAmt>
          <GainOrLossAmt>31721</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>31721</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>125528</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <QlfyUndSect4940eReducedTaxGrp>
        <LiableSection4942TaxInd>false</LiableSection4942TaxInd>
        <AdjustedQlfyDistriYr1Amt>524550</AdjustedQlfyDistriYr1Amt>
        <NetVlNoncharitableAssetsYr1Amt>13283041</NetVlNoncharitableAssetsYr1Amt>
        <DistributionYr1Rt>0.039490</DistributionYr1Rt>
        <AdjustedQlfyDistriYr2Amt>493601</AdjustedQlfyDistriYr2Amt>
        <NetVlNoncharitableAssetsYr2Amt>12211448</NetVlNoncharitableAssetsYr2Amt>
        <DistributionYr2Rt>0.040421</DistributionYr2Rt>
        <AdjustedQlfyDistriYr3Amt>536334</AdjustedQlfyDistriYr3Amt>
        <NetVlNoncharitableAssetsYr3Amt>12064716</NetVlNoncharitableAssetsYr3Amt>
        <DistributionYr3Rt>0.044455</DistributionYr3Rt>
        <AdjustedQlfyDistriYr4Amt>474902</AdjustedQlfyDistriYr4Amt>
        <NetVlNoncharitableAssetsYr4Amt>11539239</NetVlNoncharitableAssetsYr4Amt>
        <DistributionYr4Rt>0.041155</DistributionYr4Rt>
        <AdjustedQlfyDistriYr5Amt>451</AdjustedQlfyDistriYr5Amt>
        <NetVlNoncharitableAssetsYr5Amt>776134</NetVlNoncharitableAssetsYr5Amt>
        <DistributionYr5Rt>0.000581</DistributionYr5Rt>
        <TotalDistributionRt>0.166102</TotalDistributionRt>
        <AverageDistributionRt>0.033220</AverageDistributionRt>
        <NetVlNoncharitableAssetsAmt>13813716</NetVlNoncharitableAssetsAmt>
        <AdjNetVlNoncharitableAssetsAmt>458892</AdjNetVlNoncharitableAssetsAmt>
        <NetInvestmentIncomePctAmt>10096</NetInvestmentIncomePctAmt>
        <AdjNonchrtblNetInvstIncmPctAmt>468988</AdjNonchrtblNetInvstIncmPctAmt>
        <QualifyingDistributionsAmt>522190</QualifyingDistributionsAmt>
      </QlfyUndSect4940eReducedTaxGrp>
      <ExciseTaxBasedOnInvstIncmGrp>
        <DomesticOrgMeetingSect4940eInd>X</DomesticOrgMeetingSect4940eInd>
        <InvestmentIncomeExciseTaxAmt>10096</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>10096</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>10096</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>14953</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>14953</TotalPaymentsAndCreditsAmt>
        <OverpaymentAmt>4857</OverpaymentAmt>
        <AppliedToESTaxAmt>4857</AppliedToESTaxAmt>
      </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>9000</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>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>N/A</Description1Txt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>6740967</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>704447</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>6578663</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>14024077</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>14024077</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>210361</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>13813716</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>690686</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>690686</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>10096</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>10096</TotalTaxAmt>
        <DistributableBeforeAdjAmt>680590</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>680590</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>680590</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <QualifyingDistriPartXIIGrp>
        <ExpensesAndContributionsAmt>522190</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>522190</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>10096</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>512094</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>680590</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>373315</UndistributedIncomePYAmt>
        <QualifyingDistributionsAmt>522190</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>373315</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>148875</AppliedToCurrentYearAmt>
        <UndistributedIncomeCYAmt>531715</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>52000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>CORRIGANCAMDEN ISD</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>HWY 287 W</AddressLine1Txt>
            <CityNm>CORRIGAN</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>75939</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PUBLIC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIPS</GrantOrContributionPurposeTxt>
          <Amt>140202</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>26418</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>15500</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>210000</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>38281</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>JENNIFER MARIA MILLER</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>105 B J ALBRITTON DR</AddressLine1Txt>
            <CityNm>JACKONVILLE</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>75766</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>INDIVIDUAL</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1038</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>10000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>RTRAVIA WYATT</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 1617</AddressLine1Txt>
            <CityNm>LIVINGSTON</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>77351</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>INDIVIDUAL</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>694</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>504133</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>6765</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>131090</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <NetRntlIncmReNotDebtFincdProp>
          <ExclusionCd>16</ExclusionCd>
          <ExclusionAmt>29222</ExclusionAmt>
        </NetRntlIncmReNotDebtFincdProp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>125528</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <OtherRevenueDescribedGrp>
          <Desc>HUNTING LEASE INCOME</Desc>
          <ExclusionCd>16</ExclusionCd>
          <ExclusionAmt>29620</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <OtherRevenueDescribedGrp>
          <Desc>OIL &amp; GAS ROYALTIES</Desc>
          <ExclusionCd>16</ExclusionCd>
          <ExclusionAmt>749273</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>1071498</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>1071498</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>AXLEY &amp; RODE, LLP</CategoryTxt>
        <Amt>3000</Amt>
        <NetInvestmentIncomeAmt>1500</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>1500</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsGovtObligationsSch documentId="RetDoc2">
      <USGovtObligationsBookVlEOYAmt>7244237</USGovtObligationsBookVlEOYAmt>
      <USGovtObligationsEOYFMVAmt>7296255</USGovtObligationsEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <LandEtcSchedule2 documentId="RetDoc3">
      <LandEtcGrp>
        <CategoryOrItemTxt>LAND</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>4149699</CostOrOtherBasisAmt>
        <BookValueAmt>4149699</BookValueAmt>
        <EOYFMVAmt>6348941</EOYFMVAmt>
      </LandEtcGrp>
    </LandEtcSchedule2>
    <OtherAssetsSchedule documentId="RetDoc4">
      <OtherAssetsScheduleGrp>
        <Desc>PREPAID INCOME TAX</Desc>
        <BOYBookValueAmt>4953</BOYBookValueAmt>
        <EOYBookValueAmt>4857</EOYBookValueAmt>
        <EOYFMVAmt>4857</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>ROYALTY INTERESTS</Desc>
        <BOYBookValueAmt>41080</BOYBookValueAmt>
        <EOYBookValueAmt>41080</EOYBookValueAmt>
        <EOYFMVAmt>41080</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>PREPAID TREASURY INTEREST</Desc>
        <EOYBookValueAmt>1661</EOYBookValueAmt>
        <EOYFMVAmt>1661</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherDecreasesSchedule documentId="RetDoc5">
      <OtherDecreasesDetail>
        <Desc>INCREASE IN GRANTS PAYABLE</Desc>
        <Amt>158400</Amt>
      </OtherDecreasesDetail>
      <OtherDecreasesDetail>
        <Desc>PRIOR YEAR ADJUSTMENT</Desc>
        <Amt>19402</Amt>
      </OtherDecreasesDetail>
    </OtherDecreasesSchedule>
    <OtherExpensesSchedule documentId="RetDoc6">
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE EXPENSE</Desc>
        <RevenueAndExpensesPerBooksAmt>114</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>57</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>57</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>PLANTING</Desc>
        <RevenueAndExpensesPerBooksAmt>8008</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>8008</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="RetDoc7">
      <OtherIncomeDetail>
        <Desc>HUNTING LEASE INCOME</Desc>
        <RevenueAndExpensesPerBooksAmt>29620</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>29620</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
      <OtherIncomeDetail>
        <Desc>OIL &amp; GAS ROYALTIES</Desc>
        <RevenueAndExpensesPerBooksAmt>749273</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>749273</NetInvestmentIncomeAmt>
      </OtherIncomeDetail>
    </OtherIncomeSchedule2>
    <OtherProfessionalFeesSchedule documentId="RetDoc8">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>FORESTRY MANAGEMENT</CategoryTxt>
        <Amt>14617</Amt>
        <NetInvestmentIncomeAmt>14617</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc9">
      <TaxesDetail>
        <CategoryTxt>PROPERTY TAXES</CategoryTxt>
        <Amt>21174</Amt>
        <NetInvestmentIncomeAmt>21174</NetInvestmentIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>EXCISE TAX</CategoryTxt>
        <Amt>10096</Amt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>