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        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>PARAMETRIC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>62851</GrossSalesPriceAmt>
          <GainOrLossAmt>62851</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>62851</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>VANGUARD SHORT-TERM TIPS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>4</GrossSalesPriceAmt>
          <GainOrLossAmt>4</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>4</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>COMMONFUND PEP VII</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>65156</GrossSalesPriceAmt>
          <GainOrLossAmt>65156</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>65156</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>PARAMETRIC</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <CostOrOtherBasisAmt>7693</CostOrOtherBasisAmt>
          <GainOrLossAmt>-7693</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-7693</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>VANGUARD SHORT-TERM TIPS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <CostOrOtherBasisAmt>149992</CostOrOtherBasisAmt>
          <GainOrLossAmt>-149992</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-149992</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>COMMONFUND PEP VII</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>125</GrossSalesPriceAmt>
          <GainOrLossAmt>125</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>125</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>RBC GLOBAL ASSET MANAGEMENT</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <CostOrOtherBasisAmt>319721</CostOrOtherBasisAmt>
          <GainOrLossAmt>-319721</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-319721</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>VISTRA</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>1149</GrossSalesPriceAmt>
          <GainOrLossAmt>1149</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>1149</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>COMMONFUND VP XI</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>128804</GrossSalesPriceAmt>
          <GainOrLossAmt>128804</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>128804</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>SIGULER GUFF DIS OPP 3</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <CostOrOtherBasisAmt>4949</CostOrOtherBasisAmt>
          <GainOrLossAmt>-4949</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-4949</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>VULCAN VALUE PARTNERS LARGE CAP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>1346498</GrossSalesPriceAmt>
          <GainOrLossAmt>1346498</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>1346498</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>COMMONFUND VP XI</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <CostOrOtherBasisAmt>581</CostOrOtherBasisAmt>
          <GainOrLossAmt>-581</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-581</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>SIGULER GUFF DIS OPP 3</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <CostOrOtherBasisAmt>669</CostOrOtherBasisAmt>
          <GainOrLossAmt>-669</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-669</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>VULCAN VALUE PARTNERS LARGE CAP</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>119773</GrossSalesPriceAmt>
          <GainOrLossAmt>119773</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>119773</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>DAVIDSON KEMPNER INSTITUTIONAL</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>84819</GrossSalesPriceAmt>
          <GainOrLossAmt>84819</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>84819</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>SIGULER GUFF DIS OPP 4</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <CostOrOtherBasisAmt>34736</CostOrOtherBasisAmt>
          <GainOrLossAmt>-34736</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-34736</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>WELLINGTON DURABLE COMPANIES</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>438031</GrossSalesPriceAmt>
          <GainOrLossAmt>438031</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>438031</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>2020315</CapitalGainNetIncomeAmt>
        <NetShortTermCapitalGainLossAmt>-104210</NetShortTermCapitalGainLossAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>105913</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>105913</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>105913</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>251260</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>251260</TotalPaymentsAndCreditsAmt>
        <Form2220AttachedInd referenceDocumentId="RetDoc2">X</Form2220AttachedInd>
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        <AppliedToESTaxAmt>145347</AppliedToESTaxAmt>
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      <StatementsRegardingActyGrp>
        <LegislativePoliticalActyInd>false</LegislativePoliticalActyInd>
        <MoreThan100SpentInd>false</MoreThan100SpentInd>
        <Form1120POLFiledInd>false</Form1120POLFiledInd>
        <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
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        <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
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        <Section508eRqrSatisfiedInd>true</Section508eRqrSatisfiedInd>
        <AtLeast5000InAssetsInd>true</AtLeast5000InAssetsInd>
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        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>true</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>WWW.NEFE.ORG</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>THE ORGANIZATION</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>3037416333</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>1550 MARKET STREET SUITE 475</AddressLine1Txt>
          <CityNm>DENVER</CityNm>
          <StateAbbreviationCd>CO</StateAbbreviationCd>
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        </LocationOfBooksUSAddress>
        <ForeignAccountsQuestionInd>false</ForeignAccountsQuestionInd>
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      <StatementsRegardingActy4720Grp>
        <SaleOrExchDisqualifiedPrsnInd>false</SaleOrExchDisqualifiedPrsnInd>
        <BrrwOrLendDisqualifiedPrsnInd>false</BrrwOrLendDisqualifiedPrsnInd>
        <FurnGoodsDisqualifiedPrsnInd>true</FurnGoodsDisqualifiedPrsnInd>
        <PayCompDisqualifiedPrsnInd>true</PayCompDisqualifiedPrsnInd>
        <TransferAstDisqualifiedPrsnInd>false</TransferAstDisqualifiedPrsnInd>
        <PaymentToGovernmentOfficialInd>false</PaymentToGovernmentOfficialInd>
        <ActsFailToQlfyAsExceptionsInd>false</ActsFailToQlfyAsExceptionsInd>
        <UndistributedIncomePYInd>false</UndistributedIncomePYInd>
        <BusinessHoldingsInd>false</BusinessHoldingsInd>
        <JeopardyInvestmentsInd>false</JeopardyInvestmentsInd>
        <UncorrectedPYJeopardyInvstInd>false</UncorrectedPYJeopardyInvstInd>
        <InfluenceLegislationInd>false</InfluenceLegislationInd>
        <InfluenceElectionInd>false</InfluenceElectionInd>
        <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
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        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
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      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>RACHELLE FELDMAN</PersonNm>
          <USAddress>
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            <ZIPCd>80202</ZIPCd>
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        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MARGARET LIBBY</PersonNm>
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            <AddressLine1Txt>1550 MARKET STREET STE 475</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
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          </USAddress>
          <TitleTxt>MEMBER</TitleTxt>
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        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>COLLEEN WALKER</PersonNm>
          <USAddress>
            <AddressLine1Txt>1550 MARKET STREET STE 475</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80202</ZIPCd>
          </USAddress>
          <TitleTxt>MEMBER</TitleTxt>
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          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
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        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MEGAN GORMAN</PersonNm>
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            <ZIPCd>80202</ZIPCd>
          </USAddress>
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        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>HELEN NORRIS</PersonNm>
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            <AddressLine1Txt>1550 MARKET STREET STE 475</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
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            <ZIPCd>80202</ZIPCd>
          </USAddress>
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        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JASON YOUNG</PersonNm>
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            <AddressLine1Txt>1550 MARKET STREET STE 475</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80202</ZIPCd>
          </USAddress>
          <TitleTxt>VICE CHAIR</TitleTxt>
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        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>RICK KETCHUM</PersonNm>
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            <AddressLine1Txt>1550 MARKET STREET STE 475</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80202</ZIPCd>
          </USAddress>
          <TitleTxt>CHAIR</TitleTxt>
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        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MANISHA THAKOR</PersonNm>
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            <AddressLine1Txt>1550 MARKET STREET STE 475</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
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            <ZIPCd>80202</ZIPCd>
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          <PersonNm>BILLY HENSLEY</PersonNm>
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            <CityNm>DENVER</CityNm>
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            <ZIPCd>80202</ZIPCd>
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          <TitleTxt>PRES. &amp; CEO</TitleTxt>
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        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JOANNE FLORES MOSES</PersonNm>
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            <AddressLine1Txt>1550 MARKET STREET STE 475</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80202</ZIPCd>
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          <TitleTxt>TREAS. &amp; CFO</TitleTxt>
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        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>BRIAN FORD</PersonNm>
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            <AddressLine1Txt>1550 MARKET STREET STE 475</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80202</ZIPCd>
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          <TitleTxt>SEC. &amp; COS</TitleTxt>
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        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>DIONNE BLUE PHD</PersonNm>
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            <CityNm>DENVER</CityNm>
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            <ZIPCd>80202</ZIPCd>
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          <PersonNm>JOURDAN JONES</PersonNm>
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            <ZIPCd>80202</ZIPCd>
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          <PersonNm>ROBIN NUNN</PersonNm>
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            <AddressLine1Txt>1550 MARKET STREET STE 475</AddressLine1Txt>
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            <ZIPCd>80202</ZIPCd>
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        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>CONNIE WEAVER</PersonNm>
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            <AddressLine1Txt>1550 MARKET STREET STE 475</AddressLine1Txt>
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            <ZIPCd>80202</ZIPCd>
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          <PersonNm>KEVIN PLUMMER</PersonNm>
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            <AddressLine1Txt>1550 MARKET STREET STE 475</AddressLine1Txt>
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          <PersonNm>BOB LEWIS</PersonNm>
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        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>CHRISTINE LOVELY</PersonNm>
          <USAddress>
            <AddressLine1Txt>1550 MARKET STREET STE 475</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80202</ZIPCd>
          </USAddress>
          <TitleTxt>MEMBER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>LORETTA SANCHEZ</PersonNm>
          <USAddress>
            <AddressLine1Txt>1550 MARKET STREET STE 475</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80202</ZIPCd>
          </USAddress>
          <TitleTxt>MEMBER</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompensationHighestPaidEmplGrp>
          <PersonNm>BETH BEAN</PersonNm>
          <USAddress>
            <AddressLine1Txt>1550 MARKET STREET STE 475</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80202</ZIPCd>
          </USAddress>
          <TitleTxt>SR VP</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>40.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>228201</CompensationAmt>
          <EmployeeBenefitsAmt>21229</EmployeeBenefitsAmt>
        </CompensationHighestPaidEmplGrp>
        <CompensationHighestPaidEmplGrp>
          <PersonNm>ANNETTE FOWLER</PersonNm>
          <USAddress>
            <AddressLine1Txt>1550 MARKET STREET STE 475</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80202</ZIPCd>
          </USAddress>
          <TitleTxt>SR. DIR. OPE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>40.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>158592</CompensationAmt>
          <EmployeeBenefitsAmt>42606</EmployeeBenefitsAmt>
        </CompensationHighestPaidEmplGrp>
        <CompensationHighestPaidEmplGrp>
          <PersonNm>PAUL GOLDEN</PersonNm>
          <USAddress>
            <AddressLine1Txt>1550 MARKET STREET STE 475</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80202</ZIPCd>
          </USAddress>
          <TitleTxt>MD MEDIA</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>40.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>119302</CompensationAmt>
          <EmployeeBenefitsAmt>27622</EmployeeBenefitsAmt>
        </CompensationHighestPaidEmplGrp>
        <CompensationHighestPaidEmplGrp>
          <PersonNm>AMARIE FISHER</PersonNm>
          <USAddress>
            <AddressLine1Txt>1550 MARKET STREET STE 475</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80202</ZIPCd>
          </USAddress>
          <TitleTxt>SR. DIR &amp; CO</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>40.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>117838</CompensationAmt>
          <EmployeeBenefitsAmt>18345</EmployeeBenefitsAmt>
        </CompensationHighestPaidEmplGrp>
        <CompensationHighestPaidEmplGrp>
          <PersonNm>AMELIA CONRAD</PersonNm>
          <USAddress>
            <AddressLine1Txt>1550 MARKET STREET STE 475</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80202</ZIPCd>
          </USAddress>
          <TitleTxt>MD INSIGHTS</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>40.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>117676</CompensationAmt>
          <EmployeeBenefitsAmt>6686</EmployeeBenefitsAmt>
        </CompensationHighestPaidEmplGrp>
        <OtherEmployeePaidOver50kCnt>20</OtherEmployeePaidOver50kCnt>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>APPALACHIAN COLLEGE ASSOCIATION</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>3816 CAMELOT DRIVE OFC</AddressLine1Txt>
            <CityNm>LEXINGTON</CityNm>
            <StateAbbreviationCd>KY</StateAbbreviationCd>
            <ZIPCd>40517</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>PARTNERSHIP</ServiceTypeTxt>
          <CompensationAmt>496178</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>FOUNDATION FOR COLORADO COMMUNITY</BusinessNameLine1Txt>
            <BusinessNameLine2Txt>COLLEGES</BusinessNameLine2Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>9101 E LOWRY BLVD</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80230</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>PARTNERSHIP</ServiceTypeTxt>
          <CompensationAmt>457407</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>CAMBRIDGE ASSOCIATES</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>115 FEDERAL STREET SUITE 200</AddressLine1Txt>
            <CityNm>BOSTON</CityNm>
            <StateAbbreviationCd>MA</StateAbbreviationCd>
            <ZIPCd>02110</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>INV ADVISOR</ServiceTypeTxt>
          <CompensationAmt>171374</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>SYLOGIST MISSION</BusinessNameLine1Txt>
            <BusinessNameLine2Txt>(FKA SERENIC SOFTWARE)</BusinessNameLine2Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>10354 W CHATFIELD AVE SUITE 200</AddressLine1Txt>
            <CityNm>LITTLETON</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80127</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>CONSULTING</ServiceTypeTxt>
          <CompensationAmt>160603</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <CompensationOfHghstPdCntrctGrp>
          <BusinessName>
            <BusinessNameLine1Txt>MERIPLEX</BusinessNameLine1Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>10111 RICHMOND AVE SUITE 500</AddressLine1Txt>
            <CityNm>HOUSTON</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>77042</ZIPCd>
          </USAddress>
          <ServiceTypeTxt>TECH CONSULT</ServiceTypeTxt>
          <CompensationAmt>145196</CompensationAmt>
        </CompensationOfHghstPdCntrctGrp>
        <ContractorPaidOver50kCnt>16</ContractorPaidOver50kCnt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SummaryOfDirectChrtblActyGrp>
        <Description1Txt>RESEARCH AND GRANT FUNDING THROUGH SUPPORT AND MANAGEMENT OF RIGOROUS RESEARCH, NEFE IDENTIFIES KNOWLEDGE GAPS AND SEEKS EVIDENCE OF WHAT WORKS BEST IN THE APPLICATION OF FINANCIAL EDUCATION IN ORDER TO LAY THE GROUNDWORK FOR GREATER FUTURE IMPACT. FUNDING IS PROVIDED FOR RESEARCH THAT HAS THE POTENTIAL TO MAKE A PROFOUND CONTRIBUTION TO THE FIELD OF FINANCIAL EDUCATION AND SEEKS TO IMPROVE THE PUBLIC'S FINANCIAL WELL-BEING. NEFE APPROVED FUNDING TO THREE GRANT APPLICANTS IN 2023, BRINGING THE NUMBER OF RESEARCH STUDIES CURRENTLY IN PROGRESS TO EIGHT. NEFE HAS FUNDED A TOTAL OF 43 RESEARCH PROJECTS SINCE 2006. IN ADDITION, WE ARE CONDUCTING RESEARCH ON FINANCIAL TRAUMA, THE HISTORY OF FINANCIAL EDUCATION OF NATIVE COMMUNITIES, A CULTURAL RELEVANCY SCALE, AND BUILDING A STANDARDIZED ASSESSMENT TO PROVIDE TEACHERS WITH A RELIABLE, PROGRAM AGNOSTIC TOOL TO EVALUATE STUDENT LEARNING. FINANCIAL EDUCATION INNOVATION AND IMPACT SUMMIT THROUGHOUT 2023, NEFE SHARED AND PUBLISHED CONTENT RELATED</Description1Txt>
        <Expenses1Amt>7371846</Expenses1Amt>
      </SummaryOfDirectChrtblActyGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>N/A</Description1Txt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>182589701</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>0</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>182589701</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>182589701</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>2738846</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>179850855</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>8992543</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <Sect4942j3j5FndtnAndFrgnOrgInd>X</Sect4942j3j5FndtnAndFrgnOrgInd>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>9393665</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>9393665</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <PrivateOperatingFoundationsGrp>
        <PrivateOperatingFndtnRulingDt>2005-06-24</PrivateOperatingFndtnRulingDt>
        <Section4942j3Ind>X</Section4942j3Ind>
        <LessorAdjNetIncmMinInvstRetGrp>
          <CurrentYearAmt>5595654</CurrentYearAmt>
          <Year2Amt>5069017</Year2Amt>
          <Year3Amt>5428078</Year3Amt>
          <TotalAmt>16092749</TotalAmt>
        </LessorAdjNetIncmMinInvstRetGrp>
        <Pct85LessorAdjIncmOrMinRetGrp>
          <CurrentYearAmt>4756306</CurrentYearAmt>
          <Year2Amt>4308664</Year2Amt>
          <Year3Amt>4613866</Year3Amt>
          <TotalAmt>13678836</TotalAmt>
        </Pct85LessorAdjIncmOrMinRetGrp>
        <QualifyingDistributionsGrp>
          <CurrentYearAmt>9393665</CurrentYearAmt>
          <Year1Amt>7889055</Year1Amt>
          <Year2Amt>6677478</Year2Amt>
          <Year3Amt>7049930</Year3Amt>
          <TotalAmt>31010128</TotalAmt>
        </QualifyingDistributionsGrp>
        <QualifyingDistriNotUsedDrtGrp>
          <CurrentYearAmt>590568</CurrentYearAmt>
          <Year1Amt>786411</Year1Amt>
          <Year2Amt>416662</Year2Amt>
          <Year3Amt>453366</Year3Amt>
          <TotalAmt>2247007</TotalAmt>
        </QualifyingDistriNotUsedDrtGrp>
        <QualifyingDistriMadeDrtGrp>
          <CurrentYearAmt>8803097</CurrentYearAmt>
          <Year1Amt>7102644</Year1Amt>
          <Year2Amt>6260816</Year2Amt>
          <Year3Amt>6596564</Year3Amt>
          <TotalAmt>28763121</TotalAmt>
        </QualifyingDistriMadeDrtGrp>
        <TwoThirdsMinimumInvstRetGrp>
          <CurrentYearAmt>5995029</CurrentYearAmt>
          <Year1Amt>6126090</Year1Amt>
          <Year2Amt>6419477</Year2Amt>
          <Year3Amt>5455781</Year3Amt>
          <TotalAmt>23996377</TotalAmt>
        </TwoThirdsMinimumInvstRetGrp>
      </PrivateOperatingFoundationsGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>APPLICATIONS SHOULD BE SUBMITTED TO</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1550 MARKET STREET SUITE 475</AddressLine1Txt>
            <CityNm>DENVER</CityNm>
            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80202</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>3037416333</RecipientPhoneNum>
          <RecipientEmailAddressTxt>NEFE.ORG</RecipientEmailAddressTxt>
          <FormAndInfoAndMaterialsTxt>APPLICANTS MUST SUBMIT A LETTER OF INQUIRY FORM AS THE FIRST STEP TO BEING CONSIDERED FOR FUNDING. THE FORM IS AVAILABLE ON NEFE'S WEBSITE AT NEFE.ORG</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>NEFE ACCEPTS LETTERS OF INQUIRY ONCE PER YEAR, FROM SEPTEMBER 15 TO NOVEMBER 15.</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>NEFE DOES NOT FUND PROJECTS THAT: O HAVE COMMERCIAL OR PROPRIETARY ELEMENTS. O ARE RELATED TO THE PILOT, DEVELOPMENT, EXECUTION, EVALUATION, EXPANSION OR ADMINISTRATION OF SPECIFIC PROGRAMS, COURSES OR CURRICULA.</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE URBAN INSTITUTE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>500 LENFANT PLAZA SW</AddressLine1Txt>
            <CityNm>WASHINGTON</CityNm>
            <StateAbbreviationCd>DC</StateAbbreviationCd>
            <ZIPCd>20024</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>RESEARCH GRANT</GrantOrContributionPurposeTxt>
          <Amt>90000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE UNIVERSITY OF ALABAMA</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>318 ROSE ADMINISTRATION</AddressLine1Txt>
            <AddressLine2Txt>BUILDING BOX 870135</AddressLine2Txt>
            <CityNm>TUSCALOOSA</CityNm>
            <StateAbbreviationCd>AL</StateAbbreviationCd>
            <ZIPCd>35487</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>RESEARCH GRANT</GrantOrContributionPurposeTxt>
          <Amt>30548</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE RAND CORPORATION</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>1776 MAIN STREET</AddressLine1Txt>
            <AddressLine2Txt>PO BOX 2138</AddressLine2Txt>
            <CityNm>SANTA MONICA</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90407</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>RESEARCH GRANT</GrantOrContributionPurposeTxt>
          <Amt>109802</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>TEXAS TECH UNIVERSITY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 41092</AddressLine1Txt>
            <CityNm>LUBBOCK</CityNm>
            <StateAbbreviationCd>TX</StateAbbreviationCd>
            <ZIPCd>794091092</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>RESEARCH GRANT</GrantOrContributionPurposeTxt>
          <Amt>22283</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MONTANA STATE UNIVERSITY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>328 MONTANA HALL</AddressLine1Txt>
            <AddressLine2Txt>PO BOX 172470</AddressLine2Txt>
            <CityNm>BOZEMAN</CityNm>
            <StateAbbreviationCd>MT</StateAbbreviationCd>
            <ZIPCd>59717</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>RESEARCH GRANT</GrantOrContributionPurposeTxt>
          <Amt>109388</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>ST LOUIS UNIVERSITY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>3545 LINDELL BLVD</AddressLine1Txt>
            <CityNm>ST LOUIS</CityNm>
            <StateAbbreviationCd>MO</StateAbbreviationCd>
            <ZIPCd>63103</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>RESEARCH GRANT</GrantOrContributionPurposeTxt>
          <Amt>177379</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>UNIVERSITY OF TENNESSEE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>121 MORGAN HALL</AddressLine1Txt>
            <CityNm>KNOXVILLE</CityNm>
            <StateAbbreviationCd>TN</StateAbbreviationCd>
            <ZIPCd>37996</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>RESEARCH GRANT</GrantOrContributionPurposeTxt>
          <Amt>51168</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>590568</TotalGrantOrContriPdDurYrAmt>
        <GrantOrContriApprvForFutGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>MONTANA STATE UNIVERSITY</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>328 MONTANA HALL</AddressLine1Txt>
            <AddressLine2Txt>PO BOX 172470</AddressLine2Txt>
            <CityNm>BOZEMAN</CityNm>
            <StateAbbreviationCd>MT</StateAbbreviationCd>
            <ZIPCd>59717</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>RESEARCH GRANT</GrantOrContributionPurposeTxt>
          <Amt>200000</Amt>
        </GrantOrContriApprvForFutGrp>
        <GrantOrContriApprvForFutGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>THE UNIVERSITY OF ALABAMA</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>318 ROSE ADMINISTRATION</AddressLine1Txt>
            <AddressLine2Txt>BUILDING BOX 870135</AddressLine2Txt>
            <CityNm>TUSCALOOSA</CityNm>
            <StateAbbreviationCd>AL</StateAbbreviationCd>
            <ZIPCd>35487</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>RESEARCH GRANT</GrantOrContributionPurposeTxt>
          <Amt>123588</Amt>
        </GrantOrContriApprvForFutGrp>
        <GrantOrContriApprvForFutGrp>
          <RecipientBusinessName>
            <BusinessNameLine1Txt>LEWIS AND CLARK COLLEGE</BusinessNameLine1Txt>
          </RecipientBusinessName>
          <RecipientUSAddress>
            <AddressLine1Txt>615 S PALATINE HILL RD</AddressLine1Txt>
            <CityNm>PORTLAND</CityNm>
            <StateAbbreviationCd>OR</StateAbbreviationCd>
            <ZIPCd>97219</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusTxt>PC</RecipientFoundationStatusTxt>
          <GrantOrContributionPurposeTxt>RESEARCH GRANT</GrantOrContributionPurposeTxt>
          <Amt>116265</Amt>
        </GrantOrContriApprvForFutGrp>
        <TotalGrantOrContriApprvFutAmt>439853</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>1537394</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <BusinessCd>523000</BusinessCd>
          <UnrelatedBusinessTaxblIncmAmt>3568</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>2020315</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <OtherRevenueDescribedGrp>
          <Desc>PASS-THROUGH ENTITIES</Desc>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>4534500</ExclusionAmt>
        </OtherRevenueDescribedGrp>
        <OtherRevenueDescribedGrp>
          <Desc>PASS-THROUGH ENTITIES UBTI</Desc>
          <BusinessCd>523000</BusinessCd>
          <UnrelatedBusinessTaxblIncmAmt>-3704</UnrelatedBusinessTaxblIncmAmt>
        </OtherRevenueDescribedGrp>
        <SubtotalsIncmProducingActyGrp>
          <UnrelatedBusinessTaxblIncmAmt>-136</UnrelatedBusinessTaxblIncmAmt>
          <ExclusionAmt>8092209</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>8092073</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <TrnsfrTransRlnNonchrtblEOGrp>
        <TrnsfrOfCashToNonchrtblEOInd>false</TrnsfrOfCashToNonchrtblEOInd>
        <TrnsfrOtherAssetNonchrtblEOInd>false</TrnsfrOtherAssetNonchrtblEOInd>
        <SalesOrExchangesOfAssetsInd>false</SalesOrExchangesOfAssetsInd>
        <PurchaseOfAssetsNonchrtblEOInd>false</PurchaseOfAssetsNonchrtblEOInd>
        <RentalOfFacilitiesOthAssetsInd>false</RentalOfFacilitiesOthAssetsInd>
        <ReimbursementArrangementsInd>false</ReimbursementArrangementsInd>
        <LoansOrLoanGuaranteesInd>false</LoansOrLoanGuaranteesInd>
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