Step 1

Preheat oven to 350 degrees F. Coat a 3-quart casserole dish with cooking spray.

Step 2

In a large bowl, whisk together the condensed milk, eggs, 1 teaspoon vanilla, the cinnamon, and salt. Stir in raisins and doughnut cubes. Let sit 5 to 10 minutes, or until most of the liquid is absorbed. Pour mixture into casserole dish and cover with aluminum foil.

Step 3

Bake 40 minutes. Remove foil and bake 10 additional minutes, or until set in center.

Step 4

Meanwhile, in a small bowl, combine remaining ingredients including remaining vanilla, until smooth. Pour over bread pudding and serve.