﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2025v4.1" xsi:schemaLocation="http://www.irs.gov/efile">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2026-06-01T11:40:04-07:00</ReturnTs>
    <TaxPeriodEndDt>2025-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1Txt>Alaspa &amp; Murray Ltd</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>105 Arch Street</AddressLine1Txt>
        <CityNm>Cloquet</CityNm>
        <StateAbbreviationCd>MN</StateAbbreviationCd>
        <ZIPCd>55720</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990PF</ReturnTypeCd>
    <TaxPeriodBeginDt>2025-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>411925664</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>FLOY GILMAN SCHEIDLER SCHOLARSHIP</BusinessNameLine1Txt>
        <BusinessNameLine2Txt>FOUNDATION INC</BusinessNameLine2Txt>
      </BusinessName>
      <BusinessNameControlTxt>FLOY</BusinessNameControlTxt>
      <PhoneNum>2188796784</PhoneNum>
      <USAddress>
        <AddressLine1Txt>922 HIGHWAY 33 S</AddressLine1Txt>
        <CityNm>CLOQUET</CityNm>
        <StateAbbreviationCd>MN</StateAbbreviationCd>
        <ZIPCd>55720</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>CRAIG SWENSON</PersonNm>
      <PersonTitleTxt>Executive Dir.</PersonTitleTxt>
      <SignatureDt>2026-06-01</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>CHARLES A CORBETT</PreparerPersonNm>
      <PTIN>P03099916</PTIN>
      <PhoneNum>2189002236</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2025</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="5">
    <IRS990PF documentId="IRS990PF" referenceDocumentId="GeneralExplanation" softwareId="25022934" softwareVersionNum="2025v4.1">
      <Organization501c3ExemptPFInd>X</Organization501c3ExemptPFInd>
      <FMVAssetsEOYAmt>612221</FMVAssetsEOYAmt>
      <MethodOfAccountingCashInd>X</MethodOfAccountingCashInd>
      <AnalysisOfRevenueAndExpenses>
        <ScheduleBNotRequiredInd>X</ScheduleBNotRequiredInd>
        <InterestOnSavRevAndExpnssAmt>12</InterestOnSavRevAndExpnssAmt>
        <InterestOnSavNetInvstIncmAmt>12</InterestOnSavNetInvstIncmAmt>
        <DividendsRevAndExpnssAmt>11260</DividendsRevAndExpnssAmt>
        <DividendsNetInvstIncmAmt>11260</DividendsNetInvstIncmAmt>
        <NetGainSaleAstRevAndExpnssAmt>16740</NetGainSaleAstRevAndExpnssAmt>
        <GrossSalesPriceAmt>81750</GrossSalesPriceAmt>
        <CapGainNetIncmNetInvstIncmAmt>16740</CapGainNetIncmNetInvstIncmAmt>
        <TotalRevAndExpnssAmt>28012</TotalRevAndExpnssAmt>
        <TotalNetInvstIncmAmt>28012</TotalNetInvstIncmAmt>
        <OtherProfFeesRevAndExpnssAmt referenceDocumentId="OtherProfessionalFeesSchedule">11719</OtherProfFeesRevAndExpnssAmt>
        <OtherProfFeesNetInvstIncmAmt>11719</OtherProfFeesNetInvstIncmAmt>
        <TaxesRevAndExpnssAmt referenceDocumentId="TaxesSchedule">290</TaxesRevAndExpnssAmt>
        <TaxesNetInvstIncmAmt>13</TaxesNetInvstIncmAmt>
        <OtherExpensesRevAndExpnssAmt referenceDocumentId="OtherExpensesSchedule AmortizationSchedule">13424</OtherExpensesRevAndExpnssAmt>
        <OtherExpensesDsbrsChrtblAmt>25</OtherExpensesDsbrsChrtblAmt>
        <TotOprExpensesRevAndExpnssAmt>25433</TotOprExpensesRevAndExpnssAmt>
        <TotOprExpensesNetInvstIncmAmt>11732</TotOprExpensesNetInvstIncmAmt>
        <TotOprExpensesDsbrsChrtblAmt>25</TotOprExpensesDsbrsChrtblAmt>
        <ContriPaidRevAndExpnssAmt>22500</ContriPaidRevAndExpnssAmt>
        <ContriPaidDsbrsChrtblAmt>22500</ContriPaidDsbrsChrtblAmt>
        <TotalExpensesRevAndExpnssAmt>47933</TotalExpensesRevAndExpnssAmt>
        <TotalExpensesNetInvstIncmAmt>11732</TotalExpensesNetInvstIncmAmt>
        <TotalExpensesDsbrsChrtblAmt>22525</TotalExpensesDsbrsChrtblAmt>
        <ExcessRevenueOverExpensesAmt>-19921</ExcessRevenueOverExpensesAmt>
        <NetInvestmentIncomeAmt>16280</NetInvestmentIncomeAmt>
      </AnalysisOfRevenueAndExpenses>
      <Form990PFBalanceSheetsGrp>
        <CashBOYAmt>304</CashBOYAmt>
        <CashEOYAmt>361</CashEOYAmt>
        <CashEOYFMVAmt>361</CashEOYFMVAmt>
        <OtherInvestmentsBOYAmt>83498</OtherInvestmentsBOYAmt>
        <OtherInvestmentsEOYAmt referenceDocumentId="InvestmentsOtherSchedule2">63520</OtherInvestmentsEOYAmt>
        <OtherInvestmentsEOYFMVAmt>611860</OtherInvestmentsEOYFMVAmt>
        <TotalAssetsBOYAmt>83802</TotalAssetsBOYAmt>
        <TotalAssetsEOYAmt>63881</TotalAssetsEOYAmt>
        <TotalAssetsEOYFMVAmt>612221</TotalAssetsEOYFMVAmt>
        <TotalLiabilitiesEOYAmt>0</TotalLiabilitiesEOYAmt>
        <OrgDoesNotFollowFASB117Ind>X</OrgDoesNotFollowFASB117Ind>
        <CapitalStockBOYAmt>83802</CapitalStockBOYAmt>
        <CapitalStockEOYAmt>63881</CapitalStockEOYAmt>
        <TotNetAstOrFundBalancesBOYAmt>83802</TotNetAstOrFundBalancesBOYAmt>
        <TotNetAstOrFundBalancesEOYAmt>63881</TotNetAstOrFundBalancesEOYAmt>
        <TotalLiabilitiesNetAstBOYAmt>83802</TotalLiabilitiesNetAstBOYAmt>
        <TotalLiabilitiesNetAstEOYAmt>63881</TotalLiabilitiesNetAstEOYAmt>
      </Form990PFBalanceSheetsGrp>
      <ChgInNetAssetsFundBalancesGrp>
        <TotNetAstOrFundBalancesBOYAmt>83802</TotNetAstOrFundBalancesBOYAmt>
        <ExcessRevenueOverExpensesAmt>-19921</ExcessRevenueOverExpensesAmt>
        <SubtotalAmt>63881</SubtotalAmt>
        <TotNetAstOrFundBalancesEOYAmt>63881</TotNetAstOrFundBalancesEOYAmt>
      </ChgInNetAssetsFundBalancesGrp>
      <CapGainsLossTxInvstIncmDetail>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>AMERIPRISE ST NONCOVERED</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2025-01-01</AcquiredDt>
          <SoldDt>2025-01-01</SoldDt>
          <GrossSalesPriceAmt>1399</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>1612</CostOrOtherBasisAmt>
          <GainOrLossAmt>-213</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>-213</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>AMERPRISE LT NONCOVERED</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <AcquiredDt>2020-01-01</AcquiredDt>
          <SoldDt>2025-01-01</SoldDt>
          <GrossSalesPriceAmt>71405</GrossSalesPriceAmt>
          <CostOrOtherBasisAmt>63398</CostOrOtherBasisAmt>
          <GainOrLossAmt>8007</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>8007</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapGainsLossTxInvstIncmGrp>
          <PropertyDesc>CAPITAL GAIN DISTRIBUTIONS</PropertyDesc>
          <HowAcquiredCd>P</HowAcquiredCd>
          <GrossSalesPriceAmt>8946</GrossSalesPriceAmt>
          <GainOrLossAmt>8946</GainOrLossAmt>
          <GainsMinusExcessOrLossesAmt>8946</GainsMinusExcessOrLossesAmt>
        </CapGainsLossTxInvstIncmGrp>
        <CapitalGainNetIncomeAmt>16740</CapitalGainNetIncomeAmt>
      </CapGainsLossTxInvstIncmDetail>
      <ExciseTaxBasedOnInvstIncmGrp>
        <InvestmentIncomeExciseTaxAmt>226</InvestmentIncomeExciseTaxAmt>
        <SubtotalAmt>226</SubtotalAmt>
        <TaxBasedOnInvestmentIncomeAmt>226</TaxBasedOnInvestmentIncomeAmt>
        <TaxDueAmt>226</TaxDueAmt>
        <AppliedToESTaxAmt>0</AppliedToESTaxAmt>
      </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>MN</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>CRAIG SWENSON</BusinessNameLine1Txt>
        </PersonsWithBooksName>
        <PhoneNum>2188796784</PhoneNum>
        <LocationOfBooksUSAddress>
          <AddressLine1Txt>922 HIGHWAY 33 S</AddressLine1Txt>
          <CityNm>CLOQUET</CityNm>
          <StateAbbreviationCd>MN</StateAbbreviationCd>
          <ZIPCd>55720</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>
        <ActsFailToQlfyAsExceptionsInd>false</ActsFailToQlfyAsExceptionsInd>
        <UncorrectedPriorActsInd>false</UncorrectedPriorActsInd>
        <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>
          <PersonNm>LINDA SUER</PersonNm>
          <USAddress>
            <AddressLine1Txt>49 MOLLY LANE</AddressLine1Txt>
            <CityNm>ESKO</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55733</ZIPCd>
          </USAddress>
          <TitleTxt>President</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>SANDRA RAISANEN</PersonNm>
          <USAddress>
            <AddressLine1Txt>2571 CTY RD 104</AddressLine1Txt>
            <CityNm>BARNUM</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55707</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>KEN GUSTAFSON</PersonNm>
          <USAddress>
            <AddressLine1Txt>160 THOMPSON ROAD</AddressLine1Txt>
            <CityNm>ESKO</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55733</ZIPCd>
          </USAddress>
          <TitleTxt>Treasurer</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>KAREN JOHNSON</PersonNm>
          <USAddress>
            <AddressLine1Txt>1454 CHUB LAKE PARK RD</AddressLine1Txt>
            <CityNm>CARLTON</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55718</ZIPCd>
          </USAddress>
          <TitleTxt>Secretary</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>LINDSAY LALLY</PersonNm>
          <USAddress>
            <AddressLine1Txt>5560 LALLY ROAD</AddressLine1Txt>
            <CityNm>CROMWELL</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55726</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>NICKI PETERSON</PersonNm>
          <USAddress>
            <AddressLine1Txt>1379 WHITE PINE DR</AddressLine1Txt>
            <CityNm>CLOQUET</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55720</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>CATHLEEN DALE</PersonNm>
          <USAddress>
            <AddressLine1Txt>810 TALL PINE LANE 104</AddressLine1Txt>
            <CityNm>CLOQUET</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55720</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>CRAIG SWENSON</PersonNm>
          <USAddress>
            <AddressLine1Txt>922 HIGHWAY 33 S</AddressLine1Txt>
            <CityNm>CLOQUET</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55720</ZIPCd>
          </USAddress>
          <TitleTxt>Executive Dir.</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>SHANNON SAMS</PersonNm>
          <USAddress>
            <AddressLine1Txt>3953 REINKE RD</AddressLine1Txt>
            <CityNm>HERMANTOWN</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55811</ZIPCd>
          </USAddress>
          <TitleTxt>Vice President</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>PAM LITSEY</PersonNm>
          <USAddress>
            <AddressLine1Txt>20 MYRA AVE</AddressLine1Txt>
            <CityNm>CARLTON</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55718</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <OfficerDirTrstKeyEmplGrp>
          <PersonNm>AMAANDA RADTKE</PersonNm>
          <USAddress>
            <AddressLine1Txt>1384 DOUGLAS ROAD</AddressLine1Txt>
            <CityNm>CARLTON</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55718</ZIPCd>
          </USAddress>
          <TitleTxt>Director</TitleTxt>
          <AverageHrsPerWkDevotedToPosRt>0.50</AverageHrsPerWkDevotedToPosRt>
          <CompensationAmt>0</CompensationAmt>
        </OfficerDirTrstKeyEmplGrp>
        <CompOfHghstPdEmplOrNONETxt>NONE</CompOfHghstPdEmplOrNONETxt>
        <CompOfHghstPdCntrctOrNONETxt>NONE</CompOfHghstPdCntrctOrNONETxt>
      </OfficerDirTrstKeyEmplInfoGrp>
      <MinimumInvestmentReturnGrp>
        <AverageMonthlyFMVOfSecAmt>618799</AverageMonthlyFMVOfSecAmt>
        <AverageMonthlyCashBalancesAmt>0</AverageMonthlyCashBalancesAmt>
        <FMVAllOtherNoncharitableAstAmt>0</FMVAllOtherNoncharitableAstAmt>
        <TotalFMVOfUnusedAssetsAmt>618799</TotalFMVOfUnusedAssetsAmt>
        <ReductionClaimedAmt>0</ReductionClaimedAmt>
        <AdjustedTotalFMVOfUnusedAstAmt>618799</AdjustedTotalFMVOfUnusedAstAmt>
        <CashDeemedCharitableAmt>9282</CashDeemedCharitableAmt>
        <NetVlNoncharitableAssetsAmt>609517</NetVlNoncharitableAssetsAmt>
        <MinimumInvestmentReturnAmt>30476</MinimumInvestmentReturnAmt>
      </MinimumInvestmentReturnGrp>
      <DistributableAmountGrp>
        <MinimumInvestmentReturnAmt>30476</MinimumInvestmentReturnAmt>
        <TaxBasedOnInvestmentIncomeAmt>226</TaxBasedOnInvestmentIncomeAmt>
        <TotalTaxAmt>226</TotalTaxAmt>
        <DistributableBeforeAdjAmt>30250</DistributableBeforeAdjAmt>
        <DistributableBeforeDedAmt>30250</DistributableBeforeDedAmt>
        <DistributableAsAdjustedAmt>30250</DistributableAsAdjustedAmt>
      </DistributableAmountGrp>
      <PFQualifyingDistributionsGrp>
        <ExpensesAndContributionsAmt>22525</ExpensesAndContributionsAmt>
        <QualifyingDistributionsAmt>22525</QualifyingDistributionsAmt>
      </PFQualifyingDistributionsGrp>
      <UndistributedIncomeGrp>
        <DistributableAsAdjustedAmt>30250</DistributableAsAdjustedAmt>
        <ExcessDistributionCyovYr3Amt>7311</ExcessDistributionCyovYr3Amt>
        <ExcessDistributionCyovYr2Amt>10823</ExcessDistributionCyovYr2Amt>
        <ExcessDistributionCyovYr1Amt>2025</ExcessDistributionCyovYr1Amt>
        <TotalExcessDistributionCyovAmt>20159</TotalExcessDistributionCyovAmt>
        <QualifyingDistributionsAmt>22525</QualifyingDistributionsAmt>
        <TreatedAsDistriFromCorpusAmt>0</TreatedAsDistriFromCorpusAmt>
        <AppliedToCurrentYearAmt>22525</AppliedToCurrentYearAmt>
        <ExcessDistriCyovAppCYCorpusAmt>7725</ExcessDistriCyovAppCYCorpusAmt>
        <ExcessDistributionCyovAppCYAmt>7725</ExcessDistributionCyovAppCYAmt>
        <TotalCorpusAmt>12434</TotalCorpusAmt>
        <UndistributedIncomeCYAmt>0</UndistributedIncomeCYAmt>
        <ExcessDistriCyovToNextYrAmt>12434</ExcessDistriCyovToNextYrAmt>
        <ExcessFromYear2Amt>10409</ExcessFromYear2Amt>
        <ExcessFromYear1Amt>2025</ExcessFromYear1Amt>
      </UndistributedIncomeGrp>
      <SupplementaryInformationGrp>
        <ApplicationSubmissionInfoGrp>
          <RecipientPersonNm>FLOY GILMAN SCHEIDLER SCHOLARSHIP</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>922 HIGHWAY 33 S</AddressLine1Txt>
            <CityNm>CLOQUET</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55720</ZIPCd>
          </RecipientUSAddress>
          <RecipientPhoneNum>2188796784</RecipientPhoneNum>
          <FormAndInfoAndMaterialsTxt>EACH STUDENT WHO APPLIES TO BE A CANDIDATE FOR THIS SCHOLARSHIP SHALL SUBMIT AN ESSAY, WHICH SHALL BE NO MORE THAN 500 WORDS, EXPLAINING WHY HE OR SHE QUALIFIES AS A CANDIDATE AND WHAT HE OR SHE INTENDS TO DO WITH HIS OR HER EDUCATION. THIS ESSAY MUST BE ATTACHED TO THE APPLICATION SUBMITTED TO THE BOARD OF DIRECTORS. ALSO, EACH STUDENT IS REQUIRED TO SUBMIT TWO LETTERS OF RECOMMENDATION DATED NO MORE THAN THIRTY (30) DAYS PRIOR TO THE DATE OF APPLICATION.</FormAndInfoAndMaterialsTxt>
          <SubmissionDeadlinesTxt>MARCH 15</SubmissionDeadlinesTxt>
          <RestrictionsOnAwardsTxt>FUNDS AWARDED MUST BE USED TO PAY THE EXPENSE OF TUITION FOR STUDENTS WHO PURSUE A POST-SECONDARY EDUCATION.</RestrictionsOnAwardsTxt>
        </ApplicationSubmissionInfoGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>BENJAMIN BAUER</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1117 UNIVERSITY DRIVE</AddressLine1Txt>
            <CityNm>DULUTH</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55812</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>I</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>DANA JONES</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>175 W MARK ST</AddressLine1Txt>
            <CityNm>WINONA</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55987</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>I</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>GRACE SHINGLEDECKER</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1117 UNIVERSITY DRIVE</AddressLine1Txt>
            <CityNm>DULUTH</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55812</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>I</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>LAURA STEPHENSON</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>231 PILLSBURY DR SE</AddressLine1Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55455</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>I</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>LYNNSEY SCHATZ</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1200 KENWOOD AVENUE</AddressLine1Txt>
            <CityNm>DULUTH</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55811</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>I</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>MACAVA SMITH</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>700 TERRACE HEIGHTS 8</AddressLine1Txt>
            <CityNm>WINONA</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55987</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>I</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>GRACE SWANSON</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1117 UNIVERSITY DRIVE</AddressLine1Txt>
            <CityNm>DULUTH</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55812</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>I</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>SKYLAR BLACKHAWK</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>231 PILLSBURY DR SE</AddressLine1Txt>
            <CityNm>MINNEAPOLIS</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55455</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>I</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>3000</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>WILLIAM BAUER</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>1117 UNIVERSITY DRIVE</AddressLine1Txt>
            <CityNm>DULUTH</CityNm>
            <StateAbbreviationCd>MN</StateAbbreviationCd>
            <ZIPCd>55812</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>I</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <GrantOrContributionPdDurYrGrp>
          <RecipientPersonNm>JOHANNA BEINU</RecipientPersonNm>
          <RecipientUSAddress>
            <AddressLine1Txt>149 ELM STREET</AddressLine1Txt>
            <CityNm>NEW HAVEN</CityNm>
            <StateAbbreviationCd>CT</StateAbbreviationCd>
            <ZIPCd>06511</ZIPCd>
          </RecipientUSAddress>
          <RecipientRelationshipTxt>NONE</RecipientRelationshipTxt>
          <RecipientFoundationStatusCd>I</RecipientFoundationStatusCd>
          <GrantOrContributionPurposeTxt>SCHOLARSHIP</GrantOrContributionPurposeTxt>
          <Amt>1500</Amt>
        </GrantOrContributionPdDurYrGrp>
        <TotalGrantOrContriPdDurYrAmt>22500</TotalGrantOrContriPdDurYrAmt>
      </SupplementaryInformationGrp>
      <AnalysisIncomeProducingActyGrp>
        <IntOnSavAndTempCashInvstGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>12</ExclusionAmt>
        </IntOnSavAndTempCashInvstGrp>
        <DividendsAndInterestFromSecDtl>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>11260</ExclusionAmt>
        </DividendsAndInterestFromSecDtl>
        <GainSalesAstOthThanInvntryGrp>
          <ExclusionCd>14</ExclusionCd>
          <ExclusionAmt>16740</ExclusionAmt>
        </GainSalesAstOthThanInvntryGrp>
        <SubtotalsIncmProducingActyGrp>
          <ExclusionAmt>28012</ExclusionAmt>
        </SubtotalsIncmProducingActyGrp>
        <TotalIncomeProducingActyAmt>28012</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>
    <InvestmentsOtherSchedule2 documentId="InvestmentsOtherSchedule2" softwareId="25022934" softwareVersionNum="2025v4.1">
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>VARIABLE UNIVERSAL LIFE POLICIES</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>2414</BookValueAmt>
        <EOYFMVAmt>59028</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>SPS ADVANTAGE FUND</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>55078</BookValueAmt>
        <EOYFMVAmt>530584</EOYFMVAmt>
      </InvestmentsOtherGrp>
      <InvestmentsOtherGrp>
        <CategoryOrItemTxt>INLAND WESTERN</CategoryOrItemTxt>
        <ListedAtCostOrFMVCd>AT COST</ListedAtCostOrFMVCd>
        <BookValueAmt>6028</BookValueAmt>
        <EOYFMVAmt>22248</EOYFMVAmt>
      </InvestmentsOtherGrp>
    </InvestmentsOtherSchedule2>
    <OtherExpensesSchedule documentId="OtherExpensesSchedule" softwareId="25022934" softwareVersionNum="2025v4.1">
      <OtherExpensesScheduleGrp>
        <Desc>LATE FEE</Desc>
        <RevenueAndExpensesPerBooksAmt>44</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>MISCELLANEOUS</Desc>
        <RevenueAndExpensesPerBooksAmt>825</RevenueAndExpensesPerBooksAmt>
        <DisbursementsCharitablePrpsAmt>25</DisbursementsCharitablePrpsAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>OFFICE EXPENSES</Desc>
        <RevenueAndExpensesPerBooksAmt>315</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>VARIABLE UNIVERSAL LIFE INSURANCE COSTS</Desc>
        <RevenueAndExpensesPerBooksAmt>11645</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
      <OtherExpensesScheduleGrp>
        <Desc>VARIABLE UNIVERSAL LIFE PREMIUM CHARGE</Desc>
        <RevenueAndExpensesPerBooksAmt>595</RevenueAndExpensesPerBooksAmt>
      </OtherExpensesScheduleGrp>
    </OtherExpensesSchedule>
    <OtherProfessionalFeesSchedule documentId="OtherProfessionalFeesSchedule" softwareId="25022934" softwareVersionNum="2025v4.1">
      <OtherProfessionalFeesDetail>
        <CategoryTxt>INVESTMENT FEES</CategoryTxt>
        <Amt>11719</Amt>
        <NetInvestmentIncomeAmt>11719</NetInvestmentIncomeAmt>
        <AdjustedNetIncomeAmt>0</AdjustedNetIncomeAmt>
        <DisbursementsCharitablePrpsAmt>0</DisbursementsCharitablePrpsAmt>
      </OtherProfessionalFeesDetail>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule" softwareId="25022934" softwareVersionNum="2025v4.1">
      <TaxesDetail>
        <CategoryTxt>FEDERAL EXCISE TAX</CategoryTxt>
        <Amt>277</Amt>
      </TaxesDetail>
      <TaxesDetail>
        <CategoryTxt>FOREIGN TAXES</CategoryTxt>
        <Amt>13</Amt>
        <NetInvestmentIncomeAmt>13</NetInvestmentIncomeAmt>
      </TaxesDetail>
    </TaxesSchedule>
  </ReturnData>
</Return>