﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2024v5.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2025-05-08T15:31:34-04:00</ReturnTs>
    <TaxPeriodEndDt>2024-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>201892306</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>BURKHARDT &amp; DAWSON CPAS</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>793 NORTH SECOND STREET</AddressLine1Txt>
        <CityNm>CHEROKEE</CityNm>
        <StateAbbreviationCd>IA</StateAbbreviationCd>
        <ZIPCd>51012</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2024-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>276291805</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>BRUNK EDUCATIONAL FUND</BusinessNameLine1Txt>
      </BusinessName>
      <BusinessNameControlTxt>BRUN</BusinessNameControlTxt>
      <PhoneNum>7122253000</PhoneNum>
      <USAddress>
        <AddressLine1Txt>212 WEST WILLOW</AddressLine1Txt>
        <CityNm>CHEROKEE</CityNm>
        <StateAbbreviationCd>IA</StateAbbreviationCd>
        <ZIPCd>51012</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>CHEROKEE STATE BANK</PersonNm>
      <PersonTitleTxt>TRUSTEE</PersonTitleTxt>
      <PhoneNum>7122253000</PhoneNum>
      <SignatureDt>2025-05-07</SignatureDt>
    </BusinessOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>true</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>LAURA M DAWSON CPA</PreparerPersonNm>
      <PTIN>P01215262</PTIN>
      <PhoneNum>7122255755</PhoneNum>
      <PreparationDt>2025-05-07</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2024</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="7">
    <IRS990PF documentId="RetDoc9" referenceDocumentId="RetDoc7">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>5445681</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>7113</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>7113</InterestOnSavNetInvstIncmAmt>
        <InterestOnSavingsAdjNetIncmAmt>7113</InterestOnSavingsAdjNetIncmAmt>
        <DividendsRevAndExpnssAmt>111831</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>111831</DividendsNetInvstIncmAmt>
        <DividendsAdjNetIncmAmt>111831</DividendsAdjNetIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt referenceDocumentId="RetDoc2">61554</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>452525</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>3883</CapGainNetIncmNetInvstIncmAmt>
        <IncmModificationsAdjNetIncmAmt>120699</IncmModificationsAdjNetIncmAmt>
        <TotalRevAndExpnssAmt>180498</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>122827</TotalNetInvstIncmAmt>
        <TotalAdjNetIncmAmt>239643</TotalAdjNetIncmAmt>
        <CompOfcrDirTrstRevAndExpnssAmt>53093</CompOfcrDirTrstRevAndExpnssAmt>
        <CompOfcrDirTrstNetInvstIncmAmt>13273</CompOfcrDirTrstNetInvstIncmAmt>
        <CompOfcrDirTrstAdjNetIncmAmt>13273</CompOfcrDirTrstAdjNetIncmAmt>
        <CompOfcrDirTrstDsbrsChrtblAmt>39820</CompOfcrDirTrstDsbrsChrtblAmt>
        <LegalFeesRevAndExpnssAmt referenceDocumentId="RetDoc4">1400</LegalFeesRevAndExpnssAmt>
        <LegalFeesNetInvstIncmAmt>350</LegalFeesNetInvstIncmAmt>
        <LegalFeesAdjNetIncmAmt>350</LegalFeesAdjNetIncmAmt>
        <LegalFeesDsbrsChrtblAmt>1050</LegalFeesDsbrsChrtblAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc1">1990</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesNetInvstIncmAmt>498</AccountingFeesNetInvstIncmAmt>
        <AccountingFeesAdjNetIncmAmt>498</AccountingFeesAdjNetIncmAmt>
        <AccountingFeesChrtblPrpsAmt>1492</AccountingFeesChrtblPrpsAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc6">4278</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>4278</TaxesNetInvstIncmAmt>
        <TaxesAdjNetIncmAmt>4278</TaxesAdjNetIncmAmt>
        <TotOprExpensesRevAndExpnssAmt>60761</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>18399</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesAdjNetIncmAmt>18399</TotOprExpensesAdjNetIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>42362</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>0</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>0</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>60761</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>18399</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesAdjNetIncmAmt>18399</TotalExpensesAdjNetIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>42362</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>119737</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>104428</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>221244</AdjustedNetIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>247391</CashBOYAmt>
        <CashEOYAmt>266436</CashEOYAmt>
        <CashEOYFMVAmt>266436</CashEOYFMVAmt>
        <CorporateStockBOYAmt>3097380</CorporateStockBOYAmt>
        <CorporateStockEOYAmt referenceDocumentId="RetDoc3">3171373</CorporateStockEOYAmt>
        <CorporateStockEOYFMVAmt>3771036</CorporateStockEOYFMVAmt>
        <OtherAssetsBOYAmt referenceDocumentId="RetDoc5">1381510</OtherAssetsBOYAmt>
        <OtherAssetsEOYAmt referenceDocumentId="RetDoc5">1408209</OtherAssetsEOYAmt>
        <OtherAssetsEOYFMVAmt referenceDocumentId="RetDoc5">1408209</OtherAssetsEOYFMVAmt>
        <TotalAssetsBOYAmt>4726281</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>4846018</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>5445681</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
        <NoDonorRstrNetAssestsBOYAmt>4726281</NoDonorRstrNetAssestsBOYAmt>
        <NoDonorRstrNetAssestsEOYAmt>4846018</NoDonorRstrNetAssestsEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>4726281</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>4846018</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>4726281</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>4846018</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>4726281</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>119737</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>4846018</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>4846018</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapitalGainNetIncomeAmt>3883</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>1452</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>1452</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>1452</TaxBasedOnInvestmentIncomeAmt>
        <EstimatedPlusOvpmtIncmTxAmt>1240</EstimatedPlusOvpmtIncmTxAmt>
        <TotalPaymentsAndCreditsAmt>1240</TotalPaymentsAndCreditsAmt>
        <TaxDueAmt>212</TaxDueAmt>
      </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>IA</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>NONE</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>JARED KOCH</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>7122253000</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>212 WEST WILLOW</AddressLine1Txt>
          <CityNm>CHEROKEE</CityNm>
          <StateAbbreviationCd>IA</StateAbbreviationCd>
          <ZIPCd>51012</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>false</GrantsToIndividualsInd>
        <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
        <NoncharitablePurposeInd>false</NoncharitablePurposeInd>
        <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
        <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
        <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
        <SubjToTaxRmnrtnExPrchtPymtInd>false</SubjToTaxRmnrtnExPrchtPymtInd>
      </StatementsRegardingActy4720Grp>
      <OfficerDirTrstKeyEmplInfoGrp>
        <OfficerDirTrstKeyEmplGrp>
          <BusinessName>
            <BusinessNameLine1Txt>CHEROKEE STATE BANK</BusinessNameLine1Txt>
            <BusinessNameLine2Txt>CHEROKEE STATE BANK</BusinessNameLine2Txt>
          </BusinessName>
          <USAddress>
            <AddressLine1Txt>212 WEST WILLOW ST</AddressLine1Txt>
            <CityNm>CHEROKEE</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>51012</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>6.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>53093</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>LOANS MADE IN 2024 TO ASSIST COLLEGE STUDENTS COSTS</Description1Txt>
        <Expenses1Amt>146744</Expenses1Amt>
        <TotalAmt>146744</TotalAmt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>3712619</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>270145</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>3982764</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>3982764</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>59741</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>3923023</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>196151</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>196151</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>1452</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>1452</TotalTaxAmt>
        <DistributableBeforeAdjAmt>194699</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>194699</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>194699</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>42362</ExpensesAndContributionsAmt>
        <ProgramRelatedInvstTotalAmt>146744</ProgramRelatedInvstTotalAmt>
        <QualifyingDistributionsAmt>189106</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>194699</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>132750</UndistributedIncomePYAmt>
        <QualifyingDistributionsAmt>189106</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>132750</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>56356</AppliedToCurrentYearAmt>
        <UndistributedIncomeCYAmt>138343</UndistributedIncomeCYAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>JARED KOCH</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>CHEROKEE STATE BANK</AddressLine1Txt>
            <AddressLine2Txt>212 W WILLOW ST</AddressLine2Txt>
            <CityNm>CHEROKEE</CityNm>
            <StateAbbreviationCd>IA</StateAbbreviationCd>
            <ZIPCd>51012</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>7122253000</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>LOAN APPLICATIONS ARE ATTACHED AS SAMPLES</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>MAY 1ST</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>LOANS ARE FIRST GRANTED TO STUDENTS WHO ARE RESIDENTS OF CHEROKEE COUNTY, IOWA, AND IN THE EVENT THAT AVAILABLE FUNDS ARE NOT EXHAUSTED BY SUCH GRANTS, THE FUNDS MAY BE USED FOR LOANS TO STUDENTS WHO RESIDE IN OTHER IOWA COUNTIES.</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <ProgramServiceRevenueDtl>
          <Desc>FROM CSA IMPORT</Desc>
        </ProgramServiceRevenueDtl>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>7113</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>111831</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>3883</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>57671</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>122827</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>57671</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>180498</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>TAX PREPARATION FEES</CategoryTxt>
        <Amt>1990</Amt>
        <NetInvestmentIncomeAmt>498</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>498</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>1492</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <GainLossSaleOtherAssetsSch documentId="RetDoc2">
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>BANKERS TRUST</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>74959</GrossSalesPriceAmt>
        <BasisAmt>79093</BasisAmt>
        <TotalNetAmt>-4134</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
      <GainLossSaleOtherAssetGrp>
        <AssetDesc>BANKERS TRUST</AssetDesc>
        <HowAcquiredTxt>PURCHASE</HowAcquiredTxt>
        <GrossSalesPriceAmt>373683</GrossSalesPriceAmt>
        <BasisAmt>311878</BasisAmt>
        <TotalNetAmt>61805</TotalNetAmt>
      </GainLossSaleOtherAssetGrp>
    </GainLossSaleOtherAssetsSch>
    <InvestmentsCorpStockSchedule documentId="RetDoc3">
      <InvestmentsCorporateStockGrp>
        <StockNm>BANKERS TRUST COMMON STOCK</StockNm>
        <EOYBookValueAmt>1242120</EOYBookValueAmt>
        <EOYFMVAmt>1920314</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>INTERNATIONAL EQUITY MUTUAL</StockNm>
        <EOYBookValueAmt>69051</EOYBookValueAmt>
        <EOYFMVAmt>58182</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>FIXED INCOME MUTUAL FUNDS</StockNm>
        <EOYBookValueAmt>1492796</EOYBookValueAmt>
        <EOYFMVAmt>1408735</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>FOREIGN STOCK</StockNm>
        <EOYBookValueAmt>286801</EOYBookValueAmt>
        <EOYFMVAmt>308037</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
      <InvestmentsCorporateStockGrp>
        <StockNm>EQUITY MUTUAL FUNDS</StockNm>
        <EOYBookValueAmt>80605</EOYBookValueAmt>
        <EOYFMVAmt>75768</EOYFMVAmt>
      </InvestmentsCorporateStockGrp>
    </InvestmentsCorpStockSchedule>
    <LegalFeesSchedule documentId="RetDoc4">
      <LegalFeesGrp>
        <CategoryTxt>ATTORNEY FEES</CategoryTxt>
        <LegalFeesAmt>1400</LegalFeesAmt>
        <NetInvestmentIncomeAmt>350</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>350</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>1050</DisbursementsCharitablePrpsAmt>
      </LegalFeesGrp>
    </LegalFeesSchedule>
    <OtherAssetsSchedule documentId="RetDoc5">
      <OtherAssetsScheduleGrp>
        <Desc>STUDENT LOANS</Desc>
        <BOYBookValueAmt>1375491</BOYBookValueAmt>
        <EOYBookValueAmt>1401536</EOYBookValueAmt>
        <EOYFMVAmt>1401536</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>DIVIDEND RECEIVABLE</Desc>
        <BOYBookValueAmt>5774</BOYBookValueAmt>
        <EOYBookValueAmt>5422</EOYBookValueAmt>
        <EOYFMVAmt>5422</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
      <OtherAssetsScheduleGrp>
        <Desc>CASH MANAGEMENT</Desc>
        <BOYBookValueAmt>245</BOYBookValueAmt>
        <EOYBookValueAmt>1251</EOYBookValueAmt>
        <EOYFMVAmt>1251</EOYFMVAmt>
      </OtherAssetsScheduleGrp>
    </OtherAssetsSchedule>
    <TaxesSchedule documentId="RetDoc6">
      <TaxesDetail>
        <CategoryTxt>EXCISE TAX</CategoryTxt>
        <Amt>1554</Amt>
        <NetInvestmentIncomeAmt>1554</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>1554</AdjustedNetIncomeAmt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAX</CategoryTxt>
        <Amt>2724</Amt>
        <NetInvestmentIncomeAmt>2724</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>2724</AdjustedNetIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>