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        <ExpensesAndContributionsAmt>2694072</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>2694072</QualifyingDistributionsAmt>
        <PctSect4940eOrgNetInvstIncmAmt>23426</PctSect4940eOrgNetInvstIncmAmt>
        <AdjustedQualifyingDistriAmt>2670646</AdjustedQualifyingDistriAmt>
      </QualifyingDistriPartXIIGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>2533286</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>2188413</UndistributedIncomePYAmt>
        <QualifyingDistributionsAmt>2694072</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>2188413</AppliedToYear1Amt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>505659</AppliedToCurrentYearAmt>
        <UndistributedIncomeCYAmt>2027627</UndistributedIncomeCYAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <OnlyContriToPreselectedInd>X</OnlyContriToPreselectedInd>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>See attached listing Attachment B</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>Various</AddressLine1Txt>
            <CityNm>Various</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>75503</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>None</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Educational</GrantOrContributionPurposeTxt>
          <Amt>2188465</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>2188465</TotalGrantOrContriPdDurYrAmt>
        <GrantOrContriApprvForFutGrp>
          <RecipientPersonNm>See attached listing Attachment C</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>Various</AddressLine1Txt>
            <CityNm>Various</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>75503</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>None</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>(c)(3)</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>Educational</GrantOrContributionPurposeTxt>
          <Amt>658014</Amt>
        </GrantOrContriApprvForFutGrp>
        <TotalGrantOrContriApprvFutAmt>658014</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>1435734</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>1079695</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <OtherRevenueDescribedGrp>
          <Desc>Returned grant awards</Desc>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>2515429</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>2515429</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="AccountingFeesSchedule" softwareId="15000324" softwareVersionNum="2015v2.0">
      <AccountingFeesDetail>
        <CategoryTxt>Accounting</CategoryTxt>
        <Amt>13211</Amt>
        <NetInvestmentIncomeAmt>6606</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>6605</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
      <AccountingFeesDetail>
        <CategoryTxt>Auditing</CategoryTxt>
        <Amt>11900</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>11900</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <AmortizationSchedule documentId="AmortizationSchedule" softwareId="15000324" softwareVersionNum="2015v2.0">
      <AmortizationScheduleDetail>
        <AmortizedExpensesDesc>Oranizational Costs</AmortizedExpensesDesc>
        <AcquiredCompletedOrExpendedDt>2004-07-12</AcquiredCompletedOrExpendedDt>
        <AmortizedAmt>2500</AmortizedAmt>
        <DeductionForPriorYearsAmt>441</DeductionForPriorYearsAmt>
        <AmortizationPeriodRt>60.0000</AmortizationPeriodRt>
        <CurrentYearAmortizationAmt>42</CurrentYearAmortizationAmt>
        <TotalAmortizationAmt>483</TotalAmortizationAmt>
      </AmortizationScheduleDetail>
    </AmortizationSchedule>
    <DepreciationSchedule documentId="DepreciationSchedule" softwareId="15000324" softwareVersionNum="2015v2.0">
      <DepreciationPropertyGrp>
        <PropertyDesc>Apple computer</PropertyDesc>
        <AcquiredDt>2014-01-27</AcquiredDt>
        <CostOrOtherBasisAmt>2109</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>598</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>5.0000</LifeRt>
        <CurrentYearExpenseAmt>422</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>Furniture</PropertyDesc>
        <AcquiredDt>2014-01-27</AcquiredDt>
        <CostOrOtherBasisAmt>1006</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>204</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>7.0000</LifeRt>
        <CurrentYearExpenseAmt>144</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>Apple computer</PropertyDesc>
        <AcquiredDt>2013-07-31</AcquiredDt>
        <CostOrOtherBasisAmt>1868</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>716</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>5.0000</LifeRt>
        <CurrentYearExpenseAmt>374</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
    </DepreciationSchedule>
    <InvestmentsCorpBondsSchedule documentId="InvestmentsCorpBondsSchedule" softwareId="15000324" softwareVersionNum="2015v2.0">
      <InvestmentsCorporateBondsGrp>
        <BondNm>Corporate bonds (Attachment A)</BondNm>
        <EOYBookValueAmt>7184958</EOYBookValueAmt>
        <EOYFMVAmt>7184958</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsCorpStockSchedule documentId="InvestmentsCorpStockSchedule" softwareId="15000324" softwareVersionNum="2015v2.0">
      <InvestmentsCorporateStockGrp>
        <StockNm>Common stock (Attachment A)</StockNm>
        <EOYBookValueAmt>2282797</EOYBookValueAmt>
        <EOYFMVAmt>2282797</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <InvestmentsGovtObligationsSch documentId="InvestmentsGovtObligationsSche" softwareId="15000324" softwareVersionNum="2015v2.0">
      <StateLocalSecBookVlEOYAmt>3130565</StateLocalSecBookVlEOYAmt>
      <StateLocalSecEOYFMVAmt>3130565</StateLocalSecEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <InvestmentsOtherSchedule2 documentId="InvestmentsOtherSchedule2" softwareId="15000324" softwareVersionNum="2015v2.0">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Mutual funds (Attachment A)</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>12599825</BookValueAmt>
        <EOYFMVAmt>12599825</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Exchange traded funds (Attachment A)</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>13845888</BookValueAmt>
        <EOYFMVAmt>13845888</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Govt asset backed/CMO (Attachment A)</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>3456181</BookValueAmt>
        <EOYFMVAmt>3456181</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Hedge and real estate funds (Attach A)</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>5053555</BookValueAmt>
        <EOYFMVAmt>5053555</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Structured products (Attachment A)</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>618884</BookValueAmt>
        <EOYFMVAmt>618884</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LandEtcSchedule2 documentId="LandEtcSchedule2" softwareId="15000324" softwareVersionNum="2015v2.0">
      <LandEtcGrp>
        <CategoryOrItemTxt>Furniture and Fixtures</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1006</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>348</AccumulatedDepreciationAmt>
        <BookValueAmt>658</BookValueAmt>
        <EOYFMVAmt>658</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>Machinery and Equipment</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>3976</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>2110</AccumulatedDepreciationAmt>
        <BookValueAmt>1866</BookValueAmt>
        <EOYFMVAmt>1866</EOYFMVAmt>
      </LandEtcGrp>
    </LandEtcSchedule2>
    <OtherAssetsSchedule documentId="OtherAssetsSchedule" softwareId="15000324" softwareVersionNum="2015v2.0">
      <OtherAssetsScheduleGrp>
        <Desc>Net Intangible Assets</Desc>
        <BOYBookValueAmt>2059</BOYBookValueAmt>
        <EOYBookValueAmt>2017</EOYBookValueAmt>
        <EOYFMVAmt>2017</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSchedule" softwareId="15000324" softwareVersionNum="2015v2.0">
      <OtherExpensesScheduleGrp>
        <Desc>Amortization</Desc>
        <RevenueAndExpensesPerBooksAmt>42</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Bank &amp; service charges</Desc>
        <RevenueAndExpensesPerBooksAmt>407</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>41</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>366</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Board meetings</Desc>
        <RevenueAndExpensesPerBooksAmt>3323</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>332</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2991</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Computer maintenance</Desc>
        <RevenueAndExpensesPerBooksAmt>614</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>61</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>553</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Conference expenses</Desc>
        <RevenueAndExpensesPerBooksAmt>123511</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>123511</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Donations</Desc>
        <RevenueAndExpensesPerBooksAmt>2470</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>2470</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Dues &amp; subscriptions</Desc>
        <RevenueAndExpensesPerBooksAmt>6561</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>656</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>5905</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Insurance</Desc>
        <RevenueAndExpensesPerBooksAmt>7613</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>761</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>6852</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Internet</Desc>
        <RevenueAndExpensesPerBooksAmt>1150</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>115</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>1035</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Miscellaneous</Desc>
        <RevenueAndExpensesPerBooksAmt>527</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>527</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Office supplies</Desc>
        <RevenueAndExpensesPerBooksAmt>5970</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>597</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>5373</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Payroll processing fees</Desc>
        <RevenueAndExpensesPerBooksAmt>1769</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>177</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>1592</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Postage &amp; delivery</Desc>
        <RevenueAndExpensesPerBooksAmt>189</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>19</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>170</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Shredding services</Desc>
        <RevenueAndExpensesPerBooksAmt>32</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>3</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>29</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Telephone</Desc>
        <RevenueAndExpensesPerBooksAmt>4072</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>407</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>3665</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Worshops</Desc>
        <RevenueAndExpensesPerBooksAmt>30128</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>30128</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherProfessionalFeesSchedule documentId="OtherProfessionalFeesSchedule" softwareId="15000324" softwareVersionNum="2015v2.0">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>Investment advisory fees</CategoryTxt>
        <Amt>128590</Amt>
        <NetInvestmentIncomeAmt>128590</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
      <OtherProfessionalFeesDetail>
        <CategoryTxt>Website design &amp; maintenance</CategoryTxt>
        <Amt>5</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>5</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule" softwareId="15000324" softwareVersionNum="2015v2.0">
      <TaxesDetail>
        <CategoryTxt>Federal excise taxes</CategoryTxt>
        <Amt>48566</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>Payroll taxes</CategoryTxt>
        <Amt>17697</Amt>
        <NetInvestmentIncomeAmt>1770</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>15927</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>Taxes withheld from investments</CategoryTxt>
        <Amt>2236</Amt>
        <NetInvestmentIncomeAmt>2236</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>