<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2022v5.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2024-01-23T09:24:35-05:00</ReturnTs>
    <TaxPeriodEndDt>2023-09-30</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>141515307</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>SEFCO CPA'S LLP</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>16 PINE ST</AddressLine1Txt>
        <CityNm>GLENS FALLS</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>128013444</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2022-10-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>133354188</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>THE E LEO &amp; LOUISE F SPAIN</BusinessNameLine1Txt>
        <BusinessNameLine2Txt>SCHOLARSHIP FOUNDATION</BusinessNameLine2Txt>
      </BusinessName>
      <BusinessNameControlTxt>ELEO</BusinessNameControlTxt>
      <PhoneNum>5187923856</PhoneNum>
      <USAddress>
        <AddressLine1Txt>86 GLEN STREET</AddressLine1Txt>
        <CityNm>GLENS FALLS</CityNm>
        <StateAbbreviationCd>NY</StateAbbreviationCd>
        <ZIPCd>12801</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>KATE FOWLER</PersonNm>
      <PersonTitleTxt>PRESIDENT</PersonTitleTxt>
      <PhoneNum>5187934121</PhoneNum>
      <SignatureDt>2024-01-04</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <SigningOfficerGrp>
      <PersonFullName>
        <PersonFirstNm>KATE</PersonFirstNm>
        <PersonLastNm>FOWLER</PersonLastNm>
      </PersonFullName>
      <SSN>999009999</SSN>
    </SigningOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>true</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>ROBERT M BONDY II CPAMBA</PreparerPersonNm>
      <PTIN>P01894363</PTIN>
      <PhoneNum>5187937783</PhoneNum>
      <PreparationDt>2024-01-23</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2022</TaxYr>
    <BuildTS>2023-04-26 12:10:37Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="6">
    <IRS990PF documentId="RetDoc6">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>127670</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>294</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>294</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>2186</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>2186</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>10095</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>38198</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>10095</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>12575</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>12575</TotalNetInvstIncmAmt>
        <AccountingFeesRevAndExpnssAmt referenceDocumentId="RetDoc1">1475</AccountingFeesRevAndExpnssAmt>
        <AccountingFeesChrtblPrpsAmt>1475</AccountingFeesChrtblPrpsAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="RetDoc4">884</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>884</OtherProfFeesNetInvstIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="RetDoc5">308</TaxesRevAndExpnssAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="RetDoc3">171</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesNetInvstIncmAmt>121</OtherExpensesNetInvstIncmAmt>
        <OtherExpensesDsbrsChrtblAmt>50</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>2838</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>1005</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>1525</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>5600</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>5600</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>8438</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>1005</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>7125</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>4137</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>11570</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <SavAndTempCashInvstBOYAmt>4088</SavAndTempCashInvstBOYAmt>
        <SavAndTempCashInvstEOYAmt>8930</SavAndTempCashInvstEOYAmt>
        <SavAndTempCashInvstEOYFMVAmt>8930</SavAndTempCashInvstEOYFMVAmt>
        <OtherInvestmentsBOYAmt>99282</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="RetDoc2">98577</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>118740</OtherInvestmentsEOYFMVAmt>
        <TotalAssetsBOYAmt>103370</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>107507</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>127670</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>114613</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>118156</CapitalStockEOYAmt>
        <RetainedEarningBOYAmt>-11243</RetainedEarningBOYAmt>
        <RetainedEarningEOYAmt>-10649</RetainedEarningEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>103370</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>107507</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>103370</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>107507</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>103370</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>4137</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>107507</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>107507</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>257.34 SHS VICTORY MARKET NEUTRAL IN</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2022-05-17</AcquiredDt>
          <SoldDt>2023-05-10</SoldDt>
          <GrossSalesPriceAmt>2190</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>2486</CostOrOtherBasisAmt>
          <GainOrLossAmt>-296</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-296</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>141.92 SHS FIDELITY ADISOR FLOAT RAT</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2022-05-17</AcquiredDt>
          <SoldDt>2023-03-16</SoldDt>
          <GrossSalesPriceAmt>1279</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>1300</CostOrOtherBasisAmt>
          <GainOrLossAmt>-21</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-21</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>2.00 SHS ISHARES CORE S&amp;P MIDCAP ETF</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2019-04-10</AcquiredDt>
          <SoldDt>2023-05-10</SoldDt>
          <GrossSalesPriceAmt>489</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>389</CostOrOtherBasisAmt>
          <GainOrLossAmt>100</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>100</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>166.66 SHS NORTH COUNTRY LARGE CAP E</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-12-09</AcquiredDt>
          <SoldDt>2023-05-10</SoldDt>
          <GrossSalesPriceAmt>3095</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>4020</CostOrOtherBasisAmt>
          <GainOrLossAmt>-925</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-925</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>20.00 SHS VANGUARD S&amp;P 500 ETF</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2015-01-09</AcquiredDt>
          <SoldDt>2023-05-10</SoldDt>
          <GrossSalesPriceAmt>7597</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>3793</CostOrOtherBasisAmt>
          <GainOrLossAmt>3804</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>3804</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>495.60 SHS COLUMBIA DIVIDED INCOME</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2019-08-13</AcquiredDt>
          <SoldDt>2023-06-28</SoldDt>
          <GrossSalesPriceAmt>14479</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>11239</CostOrOtherBasisAmt>
          <GainOrLossAmt>3240</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>3240</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>5.05 SHS GUGGENHEIM RISK MANAGED R/E</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-06-30</AcquiredDt>
          <SoldDt>2023-03-16</SoldDt>
          <GrossSalesPriceAmt>150</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>148</CostOrOtherBasisAmt>
          <GainOrLossAmt>2</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>2</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>141.85 SHS COHEN STEERS PREFERRED SE</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-06-30</AcquiredDt>
          <SoldDt>2023-03-16</SoldDt>
          <GrossSalesPriceAmt>1600</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>1947</CostOrOtherBasisAmt>
          <GainOrLossAmt>-347</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-347</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>42.00 SHS ISHARES CORE MSCI DEV MKTS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2021-12-22</AcquiredDt>
          <SoldDt>2023-03-16</SoldDt>
          <GrossSalesPriceAmt>2413</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>2781</CostOrOtherBasisAmt>
          <GainOrLossAmt>-368</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-368</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>10095</CapitalGainNetIncomeAmt>
        <NetShortTermCapitalGainLossAmt>-317</NetShortTermCapitalGainLossAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>161</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>161</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>161</TaxBasedOnInvestmentIncomeAmt>
        <TaxDueAmt>161</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>NY</OrgReportOrRegisterStateCd>
        <Form990PFFiledWithAttyGenInd>true</Form990PFFiledWithAttyGenInd>
        <PrivateOperatingFoundationInd>false</PrivateOperatingFoundationInd>
        <NewSubstantialContributorsInd>false</NewSubstantialContributorsInd>
        <OwnControlledEntityInd>false</OwnControlledEntityInd>
        <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
        <ComplyWithPublicInspRqrInd>true</ComplyWithPublicInspRqrInd>
        <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
        <PersonsWithBooksName>
          <BusinessNameLine1Txt>GLENS FALLS NATIONAL BANK</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>5187934121</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>250 GLEN ST</AddressLine1Txt>
          <CityNm>GLENS FALLS</CityNm>
          <StateAbbreviationCd>NY</StateAbbreviationCd>
          <ZIPCd>12801</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>KATE FOWLER</PersonNm>
          <USAddress>
            <AddressLine1Txt>19 WINCREST DRIVE</AddressLine1Txt>
            <CityNm>QUEENSBURY</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>12804</ZIPCd>
          </USAddress>
          <TitleTxt>PRESIDENT</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>MARK L BEHAN</PersonNm>
          <USAddress>
            <AddressLine1Txt>86 GLEN STREET</AddressLine1Txt>
            <AddressLine2Txt>C/O SPAIN SCHOLARSHIP FOUNDATION</AddressLine2Txt>
            <CityNm>GLENS FALLS</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>12801</ZIPCd>
          </USAddress>
          <TitleTxt>SEC./TREAS.</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>1.00</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>JAMES KANE</PersonNm>
          <USAddress>
            <AddressLine1Txt>6 GRIFFIN AVE</AddressLine1Txt>
            <CityNm>FORT EDWARD</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>12828</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>ELIZABETH MILLER</PersonNm>
          <USAddress>
            <AddressLine1Txt>86 GLEN STREET</AddressLine1Txt>
            <AddressLine2Txt>C/O SPAIN SCHOLARSHIP FOUNDATION</AddressLine2Txt>
            <CityNm>GLENS FALLS</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>12801</ZIPCd>
          </USAddress>
          <TitleTxt>TRUSTEE</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
          <EmployeeBenefitProgramAmt>0</EmployeeBenefitProgramAmt>
          <ExpenseAccountOtherAllwncAmt>0</ExpenseAccountOtherAllwncAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <SumOfProgramRelatedInvstGrp>
        <Description1Txt>N/A</Description1Txt>
      </SumOfProgramRelatedInvstGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>116058</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>6509</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>122567</TotalFMVOfUnusedAssetsAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>122567</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>1839</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>120728</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>6036</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>6036</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>161</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>161</TotalTaxAmt>
        <DistributableBeforeAdjAmt>5875</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>5875</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>5875</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>7125</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>7125</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>5875</DistributableAsAdjustedAmt>
        <UndistributedIncomePYAmt>3434</UndistributedIncomePYAmt>
        <QualifyingDistributionsAmt>7125</QualifyingDistributionsAmt>
        <AppliedToYear1Amt>3434</AppliedToYear1Amt>
        <AppliedToCurrentYearAmt>3691</AppliedToCurrentYearAmt>
        <UndistributedIncomeCYAmt>2184</UndistributedIncomeCYAmt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>TRUSTEES OF THE SPAIN SCHOLARSHIP</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>C/O MARK BEHAN 86 GLEN ST</AddressLine1Txt>
            <CityNm>GLENS FALLS</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>12801</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>5187931029</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>EACH STUDENT MUST COMPLETE AND SUBMIT AN APPLICATION. EACH APPPLICATION MUST CONTAIN INFORMATION WHICH WILL ALLOW THE TRUSTEES TO MAKE AWARDS TO STUDENTS WHO DEMONSTRATE: 1. GOOD ACADEMIC PERFORMANCE - WORKS TO HIS OR HER ABILITIES - GOOD CLASS STANDING, BUT NOT NECESSARILY TOPS IN HIS OR HER CLASS. 2. FINANCIAL NEED - (CONSIDERATION GIVEN TO) FAMILY HELP: OTHERS IN FAMILY CURRENTLY IN COLLEGE - ABILITY OF STUDENT TO SELF HELP: SUMMER JOBS AND STUDENT LOANS. 3. SELECTION OF COLLEGE - DOES STUDENT HAVE A DEFINITE CAREER SELECTED VS. "JUST GOING TO COLLEGE" - DOES COLLEGE SELECTION AND CHOICE OF DEGREE MATCH UP TO HIS OR HER SCHOLASTIC ABILITIES? AWARD IS FOR ONE YEAR ONLY.</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>EACH YEAR THE PRINCIPAL OF THE SCHOOL IS CONTACTED BY THE PRESIDENT OF THE BOARD OF TRUSTEES AND A D</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>THE SCHOLARSHIP BENEFIT IS A GIFT TO THE STUDENT TO BE USED EACH YEAR FOR TUITION AND OTHER EXPENSES FOR EDUCATION AS IS DEEMED NECESSARY BY THE TRUSTEES. THE AMOUNT TO BE DISTRIBUTED IS LEFT TO THE DISCRETION OF THE TRUSTEES AND IS TO BE GIVEN TO WORTHY OR NEEDY STUDENTS OF ST MARY'S ACADEMY, GLENS FALLS, NY OR TO A STUDENT FROM SOME OTHER SCHOOL IN THE SAME LOCALITY IF THE TRUSTEES SEE FIT. THE SCHOLARSHIPS ARE TO BE PROVIDED FROM THE INCOME EARNED FROM THE TRUST.</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>DOROTHY FRANCE-MILLER</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>PO BOX 2517</AddressLine1Txt>
            <CityNm>GLENS FALLS</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>12801</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>COLLEGE EXPENSES</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>JILLIAN MURRAY</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>486 LUZERNE ROAD</AddressLine1Txt>
            <CityNm>QUEENSBURY</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>12804</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>COLLEGE EXPENSES</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>JULIAN STEDMAN</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>25 ORCHARD STREET</AddressLine1Txt>
            <CityNm>GLENS FALLS</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>12801</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>COLLEGE EXPENSES</GrantOrContributionPurposeTxt>
          <Amt>1000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>KATHERINE LIEBERTH</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>6 HORICON AVENUE</AddressLine1Txt>
            <CityNm>GLENS FALLS</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>12801</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>COLLEGE EXPENSES</GrantOrContributionPurposeTxt>
          <Amt>650</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>LILLIAN GRACE MAHONEY</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>12 ASHLEY PLACE</AddressLine1Txt>
            <CityNm>QUEENSBURY</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>12804</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>COLLEGE EXPENSES</GrantOrContributionPurposeTxt>
          <Amt>650</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>MADELINE ANDERSON</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>5 SURCINGLE ROAD</AddressLine1Txt>
            <CityNm>QUEENSBURY</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>12804</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>COLLEGE EXPENSES</GrantOrContributionPurposeTxt>
          <Amt>650</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>MICHAEL J O'CONNOR III</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>74 FITZGERALD ROAD</AddressLine1Txt>
            <CityNm>QUEENSBURY</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>12804</ZIPCd>
          </RecipientUSAddress>
          <GrantOrContributionPurposeTxt>COLLEGE EXPENSES</GrantOrContributionPurposeTxt>
          <Amt>650</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>5600</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>294</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>2186</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <OtherInvestmentIncomeGrp>
          <ExclusionCd>14</ExclusionCd>
        </OtherInvestmentIncomeGrp>
        <GainSalesAstOthThanInvntryGrp>
          <RelatedOrExemptFunctionIncmAmt>10095</RelatedOrExemptFunctionIncmAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>2480</ExclusionAmt>
          <RelatedOrExemptFunctionIncmAmt>10095</RelatedOrExemptFunctionIncmAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>12575</TotalIncomeProducingActyAmt>
      </AnalysisIncomeProducingActyGrp>
      <RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>3</LineNumberTxt>
          <RelationshipStatementTxt>THE SCHOLARSHIP BENEFIT IS A GIFT TO THE STUDENT TO BE</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>4</LineNumberTxt>
          <RelationshipStatementTxt>USED EACH YEAR FOR TUITION AND OTHER EXPENSES FOR</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
        <RlnOfActyToAccomOfExmptPrpsGrp>
          <LineNumberTxt>8</LineNumberTxt>
          <RelationshipStatementTxt>EDUCATION AS IS DEEMED NECESSARY BY THE TRUSTEES. THE AMOUNT TO BE DISTRIBUTED IS LEFT TO THE DISCRETION OF THE TRUSTEES AND IS TO BE GIVEN TO WORTHY OR NEEDY STUDENTS OF ST MARY'S ACADEMY, GLENS FALLS, NY OR TO A STUDENT FROM SOME OTHER SCHOOL IN THE SAME LOCALITY IF THE TRUSTEES SEE FIT. THE SCHOLARSHIPS ARE TO BE PROVIDED FROM THE INCOME EARNED FROM THE TRUST.</RelationshipStatementTxt>
        </RlnOfActyToAccomOfExmptPrpsGrp>
      </RlnOfActyToAccomOfExmptPrpsGrp>
      <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>ACCOUNTING &amp; 990 PF PREPARATION</CategoryTxt>
        <Amt>1475</Amt>
        <DisbursementsCharitablePrpsAmt>1475</DisbursementsCharitablePrpsAmt>
      </AccountingFeesDetail>
    </AccountingFeesSchedule>
    <InvestmentsOtherSchedule2 documentId="RetDoc2">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>MUTUAL FUNDS</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>98577</BookValueAmt>
        <EOYFMVAmt>118740</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherExpensesSchedule documentId="RetDoc3">
      <OtherExpensesScheduleGrp>
        <Desc>EXPENSES</Desc>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>NYS DEPT OF LAW FILING FEE</Desc>
        <RevenueAndExpensesPerBooksAmt>50</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>50</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>ADMINISTRATIVE</Desc>
        <RevenueAndExpensesPerBooksAmt>121</RevenueAndExpensesPerBooksAmt>
        <NetInvestmentIncomeAmt>121</NetInvestmentIncomeAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherProfessionalFeesSchedule documentId="RetDoc4">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT MANAGEMENT FEES</CategoryTxt>
        <Amt>884</Amt>
        <NetInvestmentIncomeAmt>884</NetInvestmentIncomeAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="RetDoc5">
      <TaxesDetail>
        <CategoryTxt>INTERNAL REVENUE SERVICE</CategoryTxt>
        <Amt>308</Amt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>
