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          <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>1945130</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>1945130</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>563000</Amt>
        </GrantOrContriApprvForFutGrp>
        <TotalGrantOrContriApprvFutAmt>563000</TotalGrantOrContriApprvFutAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <DivAndIntFromSecPartVIIGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>1724593</ExclusionAmt>
        </DivAndIntFromSecPartVIIGrp>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>18</ExclusionCd>
          <ExclusionAmt>424531</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>2149124</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>2149124</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="19009920" softwareVersionNum="2019v5.0">
      <AccountingFeesDetail>
        <CategoryTxt>Accounting</CategoryTxt>
        <Amt>20018</Amt>
        <NetInvestmentIncomeAmt>2002</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>18016</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
      <AccountingFeesDetail>
        <CategoryTxt>Auditing</CategoryTxt>
        <Amt>13005</Amt>
        <NetInvestmentIncomeAmt>0</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>13005</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <AmortizationSchedule documentId="AmortizationSchedule" softwareId="19009920" softwareVersionNum="2019v5.0">
      <AmortizationScheduleDetail>
        <AmortizedExpensesDesc>Oranizational Costs</AmortizedExpensesDesc>
        <AcquiredCompletedOrExpendedDt>2004-07-12</AcquiredCompletedOrExpendedDt>
        <AmortizedAmt>2500</AmortizedAmt>
        <DeductionForPriorYearsAmt>609</DeductionForPriorYearsAmt>
        <AmortizationPeriodRt>60.0000</AmortizationPeriodRt>
        <CurrentYearAmortizationAmt>42</CurrentYearAmortizationAmt>
        <TotalAmortizationAmt>651</TotalAmortizationAmt>
      </AmortizationScheduleDetail>
    </AmortizationSchedule>
    <DepreciationSchedule documentId="DepreciationSchedule" softwareId="19009920" softwareVersionNum="2019v5.0">
      <DepreciationPropertyGrp>
        <PropertyDesc>Furniture</PropertyDesc>
        <AcquiredDt>2014-01-27</AcquiredDt>
        <CostOrOtherBasisAmt>1006</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>780</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>7.0000</LifeRt>
        <CurrentYearExpenseAmt>144</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>Apple Macbook</PropertyDesc>
        <AcquiredDt>2018-03-16</AcquiredDt>
        <CostOrOtherBasisAmt>3481</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>870</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>5.0000</LifeRt>
        <CurrentYearExpenseAmt>696</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
      <DepreciationPropertyGrp>
        <PropertyDesc>Apple iMac</PropertyDesc>
        <AcquiredDt>2018-09-18</AcquiredDt>
        <CostOrOtherBasisAmt>2500</CostOrOtherBasisAmt>
        <PriorYearDepreciationAmt>375</PriorYearDepreciationAmt>
        <ComputationMethodTxt>SL</ComputationMethodTxt>
        <LifeRt>5.0000</LifeRt>
        <CurrentYearExpenseAmt>500</CurrentYearExpenseAmt>
      </DepreciationPropertyGrp>
    </DepreciationSchedule>
    <InvestmentsCorpBondsSchedule documentId="InvestmentsCorpBondsSchedule" softwareId="19009920" softwareVersionNum="2019v5.0">
      <InvestmentsCorporateBondsGrp>
        <BondNm>Corporate bonds (Attachment A)</BondNm>
        <EOYBookValueAmt>7596426</EOYBookValueAmt>
        <EOYFMVAmt>7596426</EOYFMVAmt>
      </InvestmentsCorporateBondsGrp>
    </InvestmentsCorpBondsSchedule>
    <InvestmentsGovtObligationsSch documentId="InvestmentsGovtObligationsSche" softwareId="19009920" softwareVersionNum="2019v5.0">
      <StateLocalSecBookVlEOYAmt>4066562</StateLocalSecBookVlEOYAmt>
      <StateLocalSecEOYFMVAmt>4066562</StateLocalSecEOYFMVAmt>
    </InvestmentsGovtObligationsSch>
    <InvestmentsOtherSchedule2 documentId="InvestmentsOtherSchedule2" softwareId="19009920" softwareVersionNum="2019v5.0">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Mutual funds (Attachment A)</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>28562511</BookValueAmt>
        <EOYFMVAmt>28562511</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Exchange traded funds (Attachment A)</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>2704360</BookValueAmt>
        <EOYFMVAmt>2704360</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Govt asset backed/CMO (Attachment A)</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>3689056</BookValueAmt>
        <EOYFMVAmt>3689056</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>Hedge and real estate funds (Attach A)</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>FMV</ListedAtCostOrFMVCd>
        <BookValueAmt>7571566</BookValueAmt>
        <EOYFMVAmt>7571566</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <LandEtcSchedule2 documentId="LandEtcSchedule2" softwareId="19009920" softwareVersionNum="2019v5.0">
      <LandEtcGrp>
        <CategoryOrItemTxt>Furniture and Fixtures</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>1006</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>924</AccumulatedDepreciationAmt>
        <BookValueAmt>82</BookValueAmt>
        <EOYFMVAmt>82</EOYFMVAmt>
      </LandEtcGrp>
      <LandEtcGrp>
        <CategoryOrItemTxt>Machinery and Equipment</CategoryOrItemTxt>
        <CostOrOtherBasisAmt>5981</CostOrOtherBasisAmt>
        <AccumulatedDepreciationAmt>2441</AccumulatedDepreciationAmt>
        <BookValueAmt>3540</BookValueAmt>
        <EOYFMVAmt>3540</EOYFMVAmt>
      </LandEtcGrp>
    </LandEtcSchedule2>
    <OtherAssetsSchedule documentId="OtherAssetsSchedule" softwareId="19009920" softwareVersionNum="2019v5.0">
      <OtherAssetsScheduleGrp>
        <Desc>Net Intangible Assets</Desc>
        <BOYBookValueAmt>1891</BOYBookValueAmt>
        <EOYBookValueAmt>1849</EOYBookValueAmt>
        <EOYFMVAmt>1849</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <OtherExpensesSchedule documentId="OtherExpensesSchedule" softwareId="19009920" softwareVersionNum="2019v5.0">
      <OtherExpensesScheduleGrp>
        <Desc>Amortization</Desc>
        <RevenueAndExpensesPerBooksAmt>42</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Conference &amp; workshop speakers</Desc>
        <RevenueAndExpensesPerBooksAmt>83569</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>83569</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Dues &amp; subscriptions</Desc>
        <RevenueAndExpensesPerBooksAmt>5689</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>569</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>5120</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Insurance</Desc>
        <RevenueAndExpensesPerBooksAmt>8297</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>830</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>7467</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Office supplies</Desc>
        <RevenueAndExpensesPerBooksAmt>3180</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>318</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>2862</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Other conference &amp; workshop expenses</Desc>
        <RevenueAndExpensesPerBooksAmt>11751</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>11751</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Other expenses</Desc>
        <RevenueAndExpensesPerBooksAmt>6705</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>671</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>6034</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Payroll processing fees</Desc>
        <RevenueAndExpensesPerBooksAmt>1639</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>164</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>1475</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>Telephone</Desc>
        <RevenueAndExpensesPerBooksAmt>4108</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>411</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>3697</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherProfessionalFeesSchedule documentId="OtherProfessionalFeesSchedule" softwareId="19009920" softwareVersionNum="2019v5.0">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>Investment advisory fees</CategoryTxt>
        <Amt>228894</Amt>
        <NetInvestmentIncomeAmt>228894</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule" softwareId="19009920" softwareVersionNum="2019v5.0">
      <TaxesDetail>
        <CategoryTxt>Federal excise taxes</CategoryTxt>
        <Amt>188832</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>Payroll taxes</CategoryTxt>
        <Amt>20305</Amt>
        <NetInvestmentIncomeAmt>2031</NetInvestmentIncomeAmt>
        <DisbursementsCharitablePrpsAmt>18274</DisbursementsCharitablePrpsAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>Taxes withheld from investments</CategoryTxt>
        <Amt>19824</Amt>
        <NetInvestmentIncomeAmt>19824</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>