<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2023v5.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2024-05-01T15:14:08-04:00</ReturnTs>
    <TaxPeriodEndDt>2023-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>453819215</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>RAFFENSPERGER MARTIN &amp; FINKENBINER LLC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>34 W MIDDLE ST STE 1</AddressLine1Txt>
        <CityNm>GETTYSBURG</CityNm>
        <StateAbbreviationCd>PA</StateAbbreviationCd>
        <ZIPCd>17325</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990EZ</ReturnTypeCd>
    <TaxPeriodBeginDt>2023-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>376700411</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>KATHRYN S BILLOW SCHOLARSHIP FUND</BusinessNameLine1Txt>
        <BusinessNameLine2Txt>FBO CHAMBERSBURG AREA SCHOOL DISTR</BusinessNameLine2Txt>
      </BusinessName>
      <BusinessNameControlTxt>KATH</BusinessNameControlTxt>
      <PhoneNum>7173395364</PhoneNum>
      <USAddress>
        <AddressLine1Txt>PO BOX 4566</AddressLine1Txt>
        <CityNm>GETTYSBURG</CityNm>
        <StateAbbreviationCd>PA</StateAbbreviationCd>
        <ZIPCd>17325</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>ACNB BANK TRUST</PersonNm>
      <PersonTitleTxt>TRUSTEE</PersonTitleTxt>
      <PhoneNum>7173395364</PhoneNum>
      <SignatureDt>2024-04-22</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <SigningOfficerGrp>
      <PersonFullName>
        <PersonFirstNm>ROBIN</PersonFirstNm>
        <PersonLastNm>MURRAY</PersonLastNm>
      </PersonFullName>
      <SSN>999009999</SSN>
    </SigningOfficerGrp>
    <IRSResponsiblePrtyInfoCurrInd>true</IRSResponsiblePrtyInfoCurrInd>
    <PreparerPersonGrp>
      <PreparerPersonNm>JOHN R MARTIN III CPA</PreparerPersonNm>
      <PTIN>P01310773</PTIN>
      <PhoneNum>7173371414</PhoneNum>
      <PreparationDt>2024-04-24</PreparationDt>
      <SelfEmployedInd>X</SelfEmployedInd>
    </PreparerPersonGrp>
    <TaxYr>2023</TaxYr>
    <BuildTS>2023-04-26 12:10:37Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="3">
    <IRS990EZ documentId="RetDoc2" referenceDocumentId="RetDoc4 RetDoc1">
      <InitialReturnInd>X</InitialReturnInd>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
      <WebsiteAddressTxt>N/A</WebsiteAddressTxt>
      <Organization501c3Ind referenceDocumentId="RetDoc5">X</Organization501c3Ind>
      <TypeOfOrganizationTrustInd>X</TypeOfOrganizationTrustInd>
      <GrossReceiptsAmt>66412</GrossReceiptsAmt>
      <InfoInScheduleOPartIInd>X</InfoInScheduleOPartIInd>
      <InvestmentIncomeAmt>9304</InvestmentIncomeAmt>
      <SaleOfAssetsGrossAmt>57108</SaleOfAssetsGrossAmt>
      <CostOrOtherBasisExpenseSaleAmt>53700</CostOrOtherBasisExpenseSaleAmt>
      <GainOrLossFromSaleOfAssetsAmt>3408</GainOrLossFromSaleOfAssetsAmt>
      <TotalRevenueAmt>12712</TotalRevenueAmt>
      <FeesAndOtherPymtToIndCntrctAmt>3989</FeesAndOtherPymtToIndCntrctAmt>
      <OtherExpensesTotalAmt>14433</OtherExpensesTotalAmt>
      <TotalExpensesAmt>18422</TotalExpensesAmt>
      <ExcessOrDeficitForYearAmt>-5710</ExcessOrDeficitForYearAmt>
      <NetAssetsOrFundBalancesBOYAmt>349463</NetAssetsOrFundBalancesBOYAmt>
      <NetAssetsOrFundBalancesEOYAmt>343753</NetAssetsOrFundBalancesEOYAmt>
      <CashSavingsAndInvestmentsGrp>
        <BOYAmt>349463</BOYAmt>
        <EOYAmt>343753</EOYAmt>
      </CashSavingsAndInvestmentsGrp>
      <Form990TotalAssetsGrp>
        <BOYAmt>349463</BOYAmt>
        <EOYAmt>343753</EOYAmt>
      </Form990TotalAssetsGrp>
      <NetAssetsOrFundBalancesGrp>
        <BOYAmt>349463</BOYAmt>
        <EOYAmt>343753</EOYAmt>
      </NetAssetsOrFundBalancesGrp>
      <InfoInScheduleOPartIIIInd>X</InfoInScheduleOPartIIIInd>
      <PrimaryExemptPurposeTxt>PURSUANT TO THE COURT ORDER UTILIZING THE INCOME FROM THE TRUST, A SCHOLARSHIP IS TO BE PAYABLE ANNUALLY TO A GREADUATING STUDENT OF THE CHAMBERSBURG AREA SCHOOL DISTRICT (CASD.) THE SCHOLARSHIP FUND IS TO BE ADMINISTERED BY THE CHAMBERSBURG AREA SCHOOL DISTRICT FOUNDATION. THE STUDENT SELECTION PROCESS IS ALSO TO BE OVERSEEN AND CONDUCTED BY THE CHAMBERSBURG AREA SCHOOL DISTRICT FOUNDATION.</PrimaryExemptPurposeTxt>
      <ProgramSrvcAccomplishmentGrp>
        <DescriptionProgramSrvcAccomTxt>SCHOLARSHIP PROVIDED TO A JUNIOR OR SENIOR ENROLLED IN THE CHAMBERSBURG AREA SCHOOL DISTRICT. THE RECIPIENT IS SELECTED ANNUALLY BY THE CHAMBERSBURG AREA SCHOOL DISTRICT FOUNDATION. APPLICATION MUST BE COMPLTED. MUST BE RECOMMENDED BY THEIR SCHOOL COUNSELOR OR ADMINISTRATOR. FIRST PREFERENCE IS GIVEN TO STUDENTS WITH FINANCIAL NEED.</DescriptionProgramSrvcAccomTxt>
        <ProgramServiceExpensesAmt>14433</ProgramServiceExpensesAmt>
      </ProgramSrvcAccomplishmentGrp>
      <ProgramSrvcAccomplishmentGrp>
        <DescriptionProgramSrvcAccomTxt>SCHOLARSHIP PROVIDED TO A JUNIOR OR SENIOR ENROLLED IN THE CHAMBERSBURG AREA SCHOOL DISTRICT. THE RECIPIENT IS SELECTED ANNUALLY BY THE CHAMBERSBURG AREA SCHOOL DISTRICT FOUNDATION. APPLICATION MUST BE COMPLTED. MUST BE RECOMMENDED BY THEIR SCHOOL COUNSELOR OR ADMINISTRATOR. FIRST PREFERENCE IS GIVEN TO STUDENTS WITH FINANCIAL NEED.</DescriptionProgramSrvcAccomTxt>
      </ProgramSrvcAccomplishmentGrp>
      <TotalProgramServiceExpensesAmt>14433</TotalProgramServiceExpensesAmt>
      <OfficerDirectorTrusteeEmplGrp>
        <PersonNm>ACNB BANK TRUST</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHrsPerWkDevotedToPosRt>2.00</AverageHrsPerWkDevotedToPosRt>
        <CompensationAmt>2093</CompensationAmt>
      </OfficerDirectorTrusteeEmplGrp>
      <ActivitiesNotPreviouslyRptInd>false</ActivitiesNotPreviouslyRptInd>
      <ChgMadeToOrgnzngDocNotRptInd>false</ChgMadeToOrgnzngDocNotRptInd>
      <OrganizationHadUBIInd>false</OrganizationHadUBIInd>
      <SubjectToProxyTaxInd>false</SubjectToProxyTaxInd>
      <OrganizationDissolvedEtcInd referenceDocumentId="RetDoc1">false</OrganizationDissolvedEtcInd>
      <Form1120PolFiledInd>false</Form1120PolFiledInd>
      <MadeLoansToFromOfficersInd>false</MadeLoansToFromOfficersInd>
      <EngagedInExcessBenefitTransInd>false</EngagedInExcessBenefitTransInd>
      <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      <BooksInCareOfDetail>
        <PersonNm>ACNB BANK TRUST</PersonNm>
        <USAddress>
          <AddressLine1Txt>P O BOX 4566</AddressLine1Txt>
          <CityNm>GETTYSBURG</CityNm>
          <StateAbbreviationCd>PA</StateAbbreviationCd>
          <ZIPCd>17325</ZIPCd>
        </USAddress>
        <PhoneNum>7173395364</PhoneNum>
      </BooksInCareOfDetail>
      <ForeignFinancialAccountInd>false</ForeignFinancialAccountInd>
      <ForeignOfficeInd>false</ForeignOfficeInd>
      <DonorAdvisedFndsInd>false</DonorAdvisedFndsInd>
      <OperateHospitalInd>false</OperateHospitalInd>
      <TanningServicesProvidedInd>false</TanningServicesProvidedInd>
      <RelatedOrganizationCtrlEntInd>false</RelatedOrganizationCtrlEntInd>
      <TransactionWithControlEntInd>false</TransactionWithControlEntInd>
      <PoliticalCampaignActyInd>false</PoliticalCampaignActyInd>
      <LobbyingActivitiesInd>false</LobbyingActivitiesInd>
      <SchoolOperatingInd>false</SchoolOperatingInd>
      <TrnsfrExmptNonChrtblRltdOrgInd>false</TrnsfrExmptNonChrtblRltdOrgInd>
      <PartVIOfCompOfHghstPdEmplTxt>NONE</PartVIOfCompOfHghstPdEmplTxt>
      <PartVIHghstPdCntrctProfSrvcTxt>NONE</PartVIHghstPdCntrctProfSrvcTxt>
      <FiledScheduleAInd>true</FiledScheduleAInd>
    </IRS990EZ>
    <IRS990ScheduleA documentId="RetDoc5">
      <SupportingOrganization509a3Ind>X</SupportingOrganization509a3Ind>
      <SupportingOrgType2Ind>X</SupportingOrgType2Ind>
      <IRSWrittenDeterminationInd>X</IRSWrittenDeterminationInd>
      <SupportedOrganizationsCnt>1</SupportedOrganizationsCnt>
      <SupportedOrgInformationGrp>
        <SupportedOrganizationName>
          <BusinessNameLine1Txt>CHAMBERSBURG AREA SCHOOL DISTRICT FOUNDATION</BusinessNameLine1Txt>
        </SupportedOrganizationName>
        <EIN>251728874</EIN>
        <OrganizationTypeCd>8</OrganizationTypeCd>
        <GoverningDocumentListedInd>true</GoverningDocumentListedInd>
        <SupportAmt>14433</SupportAmt>
        <OtherSupportAmt>0</OtherSupportAmt>
      </SupportedOrgInformationGrp>
      <SupportedOrganizationsTotalCnt>1</SupportedOrganizationsTotalCnt>
      <SupportSumAmt>14433</SupportSumAmt>
      <OtherSupportSumAmt>0</OtherSupportSumAmt>
      <Form990SchASupportingOrgGrp>
        <ListedByNameGoverningDocInd>true</ListedByNameGoverningDocInd>
        <SuprtOrgNoIRSDeterminationInd>false</SuprtOrgNoIRSDeterminationInd>
        <SupportedOrgSectionC456Ind>false</SupportedOrgSectionC456Ind>
        <SupportedOrgNotOrganizedUSInd>false</SupportedOrgNotOrganizedUSInd>
        <OrganizationChangeSuprtOrgInd>false</OrganizationChangeSuprtOrgInd>
        <SupportNonSupportedOrgInd>false</SupportNonSupportedOrgInd>
        <PaymentSubstantialContribtrInd>false</PaymentSubstantialContribtrInd>
        <LoanDisqualifiedPersonInd>false</LoanDisqualifiedPersonInd>
        <ControlledDisqualifiedPrsnInd>false</ControlledDisqualifiedPrsnInd>
        <DisqualifiedPrsnControllIntInd>false</DisqualifiedPrsnControllIntInd>
        <DisqualifiedPrsnOwnrIntInd>false</DisqualifiedPrsnOwnrIntInd>
        <ExcessBusinessHoldingsRulesInd>false</ExcessBusinessHoldingsRulesInd>
        <ContributionControllerInd>false</ContributionControllerInd>
        <ContributionFamilyInd>false</ContributionFamilyInd>
        <Contribution35ControlledInd>false</Contribution35ControlledInd>
      </Form990SchASupportingOrgGrp>
      <MajorityDirTrstSupportedOrgInd>true</MajorityDirTrstSupportedOrgInd>
    </IRS990ScheduleA>
    <IRS990ScheduleO documentId="RetDoc4">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990-EZ, PART I, LINE 16</FormAndLineReferenceDesc>
        <ExplanationTxt>EXPENSES CASD FOUNDATION 14,433 TOTAL 14,433</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990-EZ, PART III</FormAndLineReferenceDesc>
        <ExplanationTxt>PURSUANT TO THE COURT ORDER UTILIZING THE INCOME FROM THE TRUST, A SCHOLARSHIP IS TO BE PAYABLE ANNUALLY TO A GREADUATING STUDENT OF THE CHAMBERSBURG AREA SCHOOL DISTRICT (CASD.) THE SCHOLARSHIP FUND IS TO BE ADMINISTERED BY THE CHAMBERSBURG AREA SCHOOL DISTRICT FOUNDATION. THE STUDENT SELECTION PROCESS IS ALSO TO BE OVERSEEN AND CONDUCTED BY THE CHAMBERSBURG AREA SCHOOL DISTRICT FOUNDATION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990-EZ, PART III, LINE 28</FormAndLineReferenceDesc>
        <ExplanationTxt>SCHOLARSHIP PROVIDED TO A JUNIOR OR SENIOR ENROLLED IN THE CHAMBERSBURG AREA SCHOOL DISTRICT. THE RECIPIENT IS SELECTED ANNUALLY BY THE CHAMBERSBURG AREA SCHOOL DISTRICT FOUNDATION. APPLICATION MUST BE COMPLTED. MUST BE RECOMMENDED BY THEIR SCHOOL COUNSELOR OR ADMINISTRATOR. FIRST PREFERENCE IS GIVEN TO STUDENTS WITH FINANCIAL NEED.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990-EZ, PART III, LINE 31</FormAndLineReferenceDesc>
        <ExplanationTxt>SCHOLARSHIP PROVIDED TO A JUNIOR OR SENIOR ENROLLED IN THE CHAMBERSBURG AREA SCHOOL DISTRICT. THE RECIPIENT IS SELECTED ANNUALLY BY THE CHAMBERSBURG AREA SCHOOL DISTRICT FOUNDATION. APPLICATION MUST BE COMPLTED. MUST BE RECOMMENDED BY THEIR SCHOOL COUNSELOR OR ADMINISTRATOR. FIRST PREFERENCE IS GIVEN TO STUDENTS WITH FINANCIAL NEED.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>
