﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2012v2.1">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2014-05-15T15:41:43-05:00</Timestamp>
    <TaxPeriodEndDate>2013-06-30</TaxPeriodEndDate>
    <PreparerFirm>
      <EIN>410746749</EIN>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>CLIFTONLARSONALLEN LLP</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>420 SOUTH ORANGE AVENUE SUITE 500</AddressLine1>
        <City>ORLANDO</City>
        <State>FL</State>
        <ZIPCode>32801</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990</ReturnType>
    <TaxPeriodBeginDate>2012-07-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>591157081</EIN>
      <Name>
        <BusinessNameLine1>FLAGLER COLLEGE INC</BusinessNameLine1>
      </Name>
      <NameControl>FLAG</NameControl>
      <Phone>9048296481</Phone>
      <USAddress>
        <AddressLine1>PO BOX 1027</AddressLine1>
        <City>ST AUGUSTINE</City>
        <State>FL</State>
        <ZIPCode>320851027</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>KENNETH S RUSSOM</Name>
      <Title>VICE PRESIDENT OF BUSINESS SERVICES</Title>
      <Phone>9048296481</Phone>
      <DateSigned>2014-05-15</DateSigned>
      <AuthorizeThirdParty>1</AuthorizeThirdParty>
    </Officer>
    <Preparer>
      <Name>XIAOYAN LUO</Name>
      <PTIN>P01305207</PTIN>
      <Phone>4078021200</Phone>
    </Preparer>
    <TaxYear>2012</TaxYear>
    <BuildTS>2015-11-30 17:44:51Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="14">
    <IRS990 documentId="RetDoc1038000001" referenceDocumentId="RetDoc1044400001">
      <NameOfPrincipalOfficerPerson>KENNETH S RUSSOM</NameOfPrincipalOfficerPerson>
      <AddressPrincipalOfficerUS>
        <AddressLine1>PO BOX 1027</AddressLine1>
        <City>ST AUGUSTINE</City>
        <State>FL</State>
        <ZIPCode>320851027</ZIPCode>
      </AddressPrincipalOfficerUS>
      <GrossReceipts>92325234</GrossReceipts>
      <GroupReturnForAffiliates>0</GroupReturnForAffiliates>
      <Organization501c3>X</Organization501c3>
      <WebSite>WWW.FLAGLER.EDU</WebSite>
      <TypeOfOrganizationCorporation>X</TypeOfOrganizationCorporation>
      <YearFormation>1968</YearFormation>
      <StateLegalDomicile>FL</StateLegalDomicile>
      <ActivityOrMissionDescription>FOUR-YEAR LIBERAL ARTS COLLEGE FOR APPROXIMATELY 2,900 STUDENTS</ActivityOrMissionDescription>
      <NbrVotingMembersGoverningBody>23</NbrVotingMembersGoverningBody>
      <NbrIndependentVotingMembers>23</NbrIndependentVotingMembers>
      <TotalNbrEmployees>1135</TotalNbrEmployees>
      <TotalNbrVolunteers>60</TotalNbrVolunteers>
      <TotalGrossUBI>369606</TotalGrossUBI>
      <NetUnrelatedBusinessTxblIncome>97816</NetUnrelatedBusinessTxblIncome>
      <ContributionsGrantsPriorYear>9775772</ContributionsGrantsPriorYear>
      <ContributionsGrantsCurrentYear>10384122</ContributionsGrantsCurrentYear>
      <ProgramServiceRevenuePriorYear>50995822</ProgramServiceRevenuePriorYear>
      <ProgramServiceRevenueCY>51972641</ProgramServiceRevenueCY>
      <InvestmentIncomePriorYear>1132034</InvestmentIncomePriorYear>
      <InvestmentIncomeCurrentYear>3880421</InvestmentIncomeCurrentYear>
      <OtherRevenuePriorYear>507863</OtherRevenuePriorYear>
      <OtherRevenueCurrentYear>597807</OtherRevenueCurrentYear>
      <TotalRevenuePriorYear>62411491</TotalRevenuePriorYear>
      <TotalRevenueCurrentYear>66834991</TotalRevenueCurrentYear>
      <GrantsAndSimilarAmntsPriorYear>9603714</GrantsAndSimilarAmntsPriorYear>
      <GrantsAndSimilarAmntsCY>10064972</GrantsAndSimilarAmntsCY>
      <BenefitsPaidToMembersPriorYear>0</BenefitsPaidToMembersPriorYear>
      <BenefitsPaidToMembersCY>0</BenefitsPaidToMembersCY>
      <SalariesEtcPriorYear>23880176</SalariesEtcPriorYear>
      <SalariesEtcCurrentYear>24951206</SalariesEtcCurrentYear>
      <TotalProfFundrsngExpPriorYear>43563</TotalProfFundrsngExpPriorYear>
      <TotalProfFundrsngExpCY>30889</TotalProfFundrsngExpCY>
      <TotalFundrsngExpCurrentYear>1908949</TotalFundrsngExpCurrentYear>
      <OtherExpensePriorYear>23611807</OtherExpensePriorYear>
      <OtherExpensesCurrentYear>24398831</OtherExpensesCurrentYear>
      <TotalExpensesPriorYear>57139260</TotalExpensesPriorYear>
      <TotalExpensesCurrentYear>59445898</TotalExpensesCurrentYear>
      <RevenuesLessExpensesPriorYear>5272231</RevenuesLessExpensesPriorYear>
      <RevenuesLessExpensesCY>7389093</RevenuesLessExpensesCY>
      <TotalAssetsBOY>170094420</TotalAssetsBOY>
      <TotalAssetsEOY>175662460</TotalAssetsEOY>
      <TotalLiabilitiesBOY>46959293</TotalLiabilitiesBOY>
      <TotalLiabilitiesEOY>44703521</TotalLiabilitiesEOY>
      <NetAssetsOrFundBalancesBOY>123135127</NetAssetsOrFundBalancesBOY>
      <NetAssetsOrFundBalancesEOY>130958939</NetAssetsOrFundBalancesEOY>
      <InfoInScheduleOPartIII>X</InfoInScheduleOPartIII>
      <MissionDescription>TO PROVIDE A SUPPORTIVE AND CHALLENGING ENVIRONMENT IN WHICH STUDENTS ACQUIRE KNOWLEDGE, EXERCISE GOOD CITIZENSHIP, AND ADHERE TO HIGH ETHICAL STANDARDS.</MissionDescription>
      <SignificantNewProgramServices>0</SignificantNewProgramServices>
      <SignificantChange>0</SignificantChange>
      <Expense>45383350</Expense>
      <Grants>10064972</Grants>
      <Revenue>51972641</Revenue>
      <Description>THE AIM OF FLAGLER COLLEGE IS TO PROVIDE A SUPPORTIVE AND CHALLENGING ENVIRONMENT IN WHICH STUDENTS ACQUIRE KNOWLEDGE, EXERCISE GOOD CITIZENSHIP, AND ADHERE TO HIGH ETHICAL STANDARDS.THE PRINCIPAL FOCUS OF THE COLLEGE'S ACADEMIC PROGRAM IS UNDERGRADUATE EDUCATION IN SELECTED LIBERAL AND PRE-PROFESSIONAL STUDIES; THUS, THE ROLE OF TEACHING IS CENTRAL TO THE COLLEGE'S MISSION.THE PURPOSES OF THE ACADEMIC PROGRAM ARE TO PROVIDE OPPORTUNITIES FOR GENERAL AND SPECIALIZED LEARNING; TO ASSIST STUDENTS IN PREPARING FOR CAREERS; AND TO AID QUALIFIED STUDENTS IN PURSUING GRADUATE AND PROFESSIONAL STUDIES.THE OBJECTIVES OF THE STUDENT LIFE PROGRAM AT FLAGLER ARE TO ESTABLISH APPROPRIATE STANDARDS OF CONDUCT AND TO PROMOTE ACTIVITIES THAT WILL CONTRIBUTE TO THE DEVELOPMENT OF SELF-DISCIPLINE, INTEGRITY, AND LEADERSHIP.FLAGLER COLLEGE WAS ESTABLISHED AS A MEMORIAL TO HENRY M. FLAGLER. THE HOTEL PONCE DE LEON, BUILT BY MR. FLAGLER, SERVES AS A REMINDER OF HIS ENTERPRISE, DILIGENCE, AND COMMITMENT TO HIGH STANDARDS. THE COLLEGE IS PLEDGED TO THE PRESERVATION AND USE OF THIS FACILITY AND OTHER HISTORIC AND ARCHITECTURALLY UNIQUE CAMPUS STRUCTURES.</Description>
      <TotalProgramServiceExpense>45383350</TotalProgramServiceExpense>
      <DescribedIn501C3 referenceDocumentId="RetDoc1039100001">1</DescribedIn501C3>
      <ScheduleBRequired referenceDocumentId="RetDoc1234500001">1</ScheduleBRequired>
      <PoliticalActivities referenceDocumentId="RetDoc1039500001">0</PoliticalActivities>
      <LobbyingActivities referenceDocumentId="RetDoc1039500001">1</LobbyingActivities>
      <SubjectToProxyTax referenceDocumentId="RetDoc1039500001">0</SubjectToProxyTax>
      <DonorAdvisedFunds referenceDocumentId="RetDoc1039900001">0</DonorAdvisedFunds>
      <ConservationEasements referenceDocumentId="RetDoc1039900001">1</ConservationEasements>
      <CollectionsOfArt referenceDocumentId="RetDoc1039900001">1</CollectionsOfArt>
      <CreditCounseling referenceDocumentId="RetDoc1039900001">0</CreditCounseling>
      <TermOrPermanentEndowments referenceDocumentId="RetDoc1039900001">1</TermOrPermanentEndowments>
      <ReportLandBldgEquip referenceDocumentId="RetDoc1039900001">1</ReportLandBldgEquip>
      <ReportInvestOthSecurities referenceDocumentId="RetDoc1039900001">0</ReportInvestOthSecurities>
      <ReportProgRelInvest referenceDocumentId="RetDoc1039900001">0</ReportProgRelInvest>
      <ReportOtherAssets referenceDocumentId="RetDoc1039900001">0</ReportOtherAssets>
      <ReportOtherLiabilities referenceDocumentId="RetDoc1039900001">1</ReportOtherLiabilities>
      <ReportFin48Footnote referenceDocumentId="RetDoc1039900001">1</ReportFin48Footnote>
      <IndependentAuditFinancialStmt referenceDocumentId="RetDoc1039900001">0</IndependentAuditFinancialStmt>
      <ConsolidatedAuditFinancialStmt referenceDocumentId="RetDoc1039900001">1</ConsolidatedAuditFinancialStmt>
      <School referenceDocumentId="RetDoc1040400001">1</School>
      <ForeignOffice>0</ForeignOffice>
      <ForeignActivities>0</ForeignActivities>
      <MoreThan5000KToOrganizations>0</MoreThan5000KToOrganizations>
      <MoreThan5000KToIndividuals>0</MoreThan5000KToIndividuals>
      <ProfessionalFundraising referenceDocumentId="RetDoc1041200001">1</ProfessionalFundraising>
      <FundraisingActivities referenceDocumentId="RetDoc1041200001">1</FundraisingActivities>
      <Gaming referenceDocumentId="RetDoc1041200001">0</Gaming>
      <Hospital>0</Hospital>
      <GrantsToOrganizations referenceDocumentId="RetDoc1041900001">0</GrantsToOrganizations>
      <GrantsToIndividuals referenceDocumentId="RetDoc1041900001">1</GrantsToIndividuals>
      <ScheduleJRequired referenceDocumentId="RetDoc1042400001">1</ScheduleJRequired>
      <TaxExemptBonds referenceDocumentId="RetDoc1053100001">1</TaxExemptBonds>
      <InvestTaxExemptBonds>0</InvestTaxExemptBonds>
      <EscrowAccount>0</EscrowAccount>
      <OnBehalfOfIssuer>0</OnBehalfOfIssuer>
      <ExcessBenefitTransaction referenceDocumentId="RetDoc1042800001">0</ExcessBenefitTransaction>
      <PriorExcessBenefitTransaction referenceDocumentId="RetDoc1042800001">0</PriorExcessBenefitTransaction>
      <LoanToOfficerOrDQP referenceDocumentId="RetDoc1042800001">1</LoanToOfficerOrDQP>
      <GrantToRelatedPerson referenceDocumentId="RetDoc1042800001">0</GrantToRelatedPerson>
      <BsnssRltnshpWithOrganization referenceDocumentId="RetDoc1042800001">1</BsnssRltnshpWithOrganization>
      <BsnssRltnshpThruFamilyMember referenceDocumentId="RetDoc1042800001">1</BsnssRltnshpThruFamilyMember>
      <OfficerEntityWithBsnssRltnshp referenceDocumentId="RetDoc1042800001">1</OfficerEntityWithBsnssRltnshp>
      <DeductibleNonCashContributions referenceDocumentId="RetDoc1042900001">1</DeductibleNonCashContributions>
      <DeductibleContributionsOfArt referenceDocumentId="RetDoc1042900001">0</DeductibleContributionsOfArt>
      <Terminated>0</Terminated>
      <PartialLiquidation>0</PartialLiquidation>
      <DisregardedEntity referenceDocumentId="RetDoc1043400001">0</DisregardedEntity>
      <RelatedEntity referenceDocumentId="RetDoc1043400001">1</RelatedEntity>
      <RelatedOrgControlledEntity>1</RelatedOrgControlledEntity>
      <TransactionRelatedEntity referenceDocumentId="RetDoc1043400001">1</TransactionRelatedEntity>
      <TransfersToExemptNonChrtblOrg referenceDocumentId="RetDoc1043400001">0</TransfersToExemptNonChrtblOrg>
      <ActivitiesConductedPartnership referenceDocumentId="RetDoc1043400001">0</ActivitiesConductedPartnership>
      <ScheduleORequired>1</ScheduleORequired>
      <NumberFormsTransmittedWith1096>120</NumberFormsTransmittedWith1096>
      <NumberW2GIncluded>0</NumberW2GIncluded>
      <NumberOfEmployees>1135</NumberOfEmployees>
      <EmploymentTaxReturnsFiled>1</EmploymentTaxReturnsFiled>
      <UnrelatedBusinessIncome>1</UnrelatedBusinessIncome>
      <Form990-TFiled>1</Form990-TFiled>
      <ForeignFinancialAccount>1</ForeignFinancialAccount>
      <NameOfForeignCountry>BF</NameOfForeignCountry>
      <ProhibitedTaxShelterTrans>0</ProhibitedTaxShelterTrans>
      <TaxablePartyNotification>0</TaxablePartyNotification>
      <NonDeductibleContributions>0</NonDeductibleContributions>
      <QuidProQuoContributions>0</QuidProQuoContributions>
      <Form8282PropertyDisposedOf>0</Form8282PropertyDisposedOf>
      <FundsToPayPremiums>0</FundsToPayPremiums>
      <PremiumsPaid>0</PremiumsPaid>
      <IndoorTanningServices>0</IndoorTanningServices>
      <InfoInScheduleOPartVI>X</InfoInScheduleOPartVI>
      <NbrVotingGoverningBodyMembers>23</NbrVotingGoverningBodyMembers>
      <NumberIndependentVotingMembers>23</NumberIndependentVotingMembers>
      <FamilyOrBusinessRelationship>1</FamilyOrBusinessRelationship>
      <DelegationOfManagementDuties>0</DelegationOfManagementDuties>
      <ChangesToOrganizingDocs>0</ChangesToOrganizingDocs>
      <MaterialDiversionOrMisuse>0</MaterialDiversionOrMisuse>
      <MembersOrStockholders>0</MembersOrStockholders>
      <ElectionOfBoardMembers>0</ElectionOfBoardMembers>
      <DecisionsSubjectToApproval>0</DecisionsSubjectToApproval>
      <MinutesOfGoverningBody>1</MinutesOfGoverningBody>
      <MinutesOfCommittees>1</MinutesOfCommittees>
      <OfficerMailingAddress>0</OfficerMailingAddress>
      <LocalChapters>1</LocalChapters>
      <PoliciesReferenceChapters>1</PoliciesReferenceChapters>
      <Form990ProvidedToGoverningBody>1</Form990ProvidedToGoverningBody>
      <ConflictOfInterestPolicy>1</ConflictOfInterestPolicy>
      <AnnualDisclosureCoveredPersons>1</AnnualDisclosureCoveredPersons>
      <RegularMonitoringEnforcement>1</RegularMonitoringEnforcement>
      <WhistleblowerPolicy>1</WhistleblowerPolicy>
      <DocumentRetentionPolicy>1</DocumentRetentionPolicy>
      <CompensationProcessCEO>1</CompensationProcessCEO>
      <CompensationProcessOther>1</CompensationProcessOther>
      <InvestmentInJointVenture>0</InvestmentInJointVenture>
      <StatesWhereCopyOfReturnIsFiled>FL</StatesWhereCopyOfReturnIsFiled>
      <UponRequest>X</UponRequest>
      <TheBooksAreInCareOf>
        <NamePerson>PAMELA LEYDON</NamePerson>
        <TelephoneNumber>9048296481</TelephoneNumber>
        <AddressUS>
          <AddressLine1>74 KING STREET</AddressLine1>
          <City>ST AUGUSTINE</City>
          <State>FL</State>
          <ZIPCode>32084</ZIPCode>
        </AddressUS>
      </TheBooksAreInCareOf>
      <Form990PartVIISectionA>
        <NamePerson>DAVID DRYSDALE</NamePerson>
        <Title>CHAIR</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <AverageHoursPerWeekRelated>2.00</AverageHoursPerWeekRelated>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>FRANK D UPCHURCH III</NamePerson>
        <Title>VICE CHAIR</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>JOHN D BAILEY JR</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>MARK F BAILEY</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>EDDIE CREAMER</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <AverageHoursPerWeekRelated>2.00</AverageHoursPerWeekRelated>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>VIKI W FREEMAN</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>HORACE A GRAY IV</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <AverageHoursPerWeekRelated>2.00</AverageHoursPerWeekRelated>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>RICHARD W GROUX JR</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>GF ROBERT HANKE USMC RET</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>WALTER G JEWETT JR</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>DELORES T LASTINGER</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>ROBERT E MARTIN</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>DUANE L OTTENSTROER</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <AverageHoursPerWeekRelated>2.00</AverageHoursPerWeekRelated>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>LEWIS B POLLARD</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <AverageHoursPerWeekRelated>2.00</AverageHoursPerWeekRelated>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>CHRIS L REGAS</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>RANDAL L RINGHAVER</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <AverageHoursPerWeekRelated>2.00</AverageHoursPerWeekRelated>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>THE HONORABLE JOHN D ROOD</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>NANCY E RUTLAND</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>BRADFORD B SAUER</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <AverageHoursPerWeekRelated>2.00</AverageHoursPerWeekRelated>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>FRANK C STEINEMAN JR</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>ROBERT J STRANG</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>MITCHELL B WALK</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>KIM R WHEELER</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>BRIAN L WILSON</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <AverageHoursPerWeekRelated>2.00</AverageHoursPerWeekRelated>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>JACK WILSON</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>DR WILLIAM T ABARE JR</NamePerson>
        <Title>PRESIDENT</Title>
        <AverageHoursPerWeek>50.00</AverageHoursPerWeek>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>427671</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>60237</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>MARY JANE DILLON</NamePerson>
        <Title>SECRETARY</Title>
        <AverageHoursPerWeek>50.00</AverageHoursPerWeek>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>83232</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>11633</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>KENNETH S RUSSOM</NamePerson>
        <Title>TREASURER, VP BUSINESS SER</Title>
        <AverageHoursPerWeek>50.00</AverageHoursPerWeek>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>130359</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>18785</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>DR WILLIAM L PROCTOR</NamePerson>
        <Title>CHANCELLOR</Title>
        <AverageHoursPerWeek>50.00</AverageHoursPerWeek>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>166950</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>5735</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>ALAN WOOLFOLK</NamePerson>
        <Title>DEAN OF ACADEMIC AFFAIRS</Title>
        <AverageHoursPerWeek>40.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>141711</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>12827</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>MARK WHITTAKER</NamePerson>
        <Title>VICE PRESIDENT OF INSTITUT</Title>
        <AverageHoursPerWeek>40.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>142698</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>21707</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>JOE PROVENZA</NamePerson>
        <Title>DIRECTOR OF TECHNOLOGY SER</Title>
        <AverageHoursPerWeek>40.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>107300</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>23288</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>PAMELA LEYDON</NamePerson>
        <Title>DIRECTOR OF FINANCE</Title>
        <AverageHoursPerWeek>40.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>107606</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>11064</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>MARK WILLIAR</NamePerson>
        <Title>VICE PRESIDENT FOR ENROLLM</Title>
        <AverageHoursPerWeek>40.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>116608</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>29554</OtherCompensation>
      </Form990PartVIISectionA>
      <TotalReportableCompFromOrg>1424135</TotalReportableCompFromOrg>
      <TotalReportableCompFrmRltdOrgs>0</TotalReportableCompFrmRltdOrgs>
      <TotalOtherCompensation>194830</TotalOtherCompensation>
      <NumberIndividualsGT100K>10</NumberIndividualsGT100K>
      <FormersListed>0</FormersListed>
      <TotalCompGT150K>1</TotalCompGT150K>
      <CompensationFromOtherSources>0</CompensationFromOtherSources>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>ARAMARK</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>1101 MARKET STREET</AddressLine1>
            <City>PHILADELPHIA</City>
            <State>PA</State>
            <ZIPCode>19107</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>STUDENT FOOD SERVICES</DescriptionOfServices>
        <Compensation>2532015</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>A D DAVIS CONSTRUCTION COMPANY</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>3940 LEWIS SPEEDWAY 2201</AddressLine1>
            <City>ST AUGUSTINE</City>
            <State>FL</State>
            <ZIPCode>32084</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>CONSTRUCTION SERVICES</DescriptionOfServices>
        <Compensation>2108122</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>ROYALL &amp; COMPANY</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>1920 EAST PARHAM RD</AddressLine1>
            <City>RICHMOND</City>
            <State>VA</State>
            <ZIPCode>23228</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>UNDERGRADUATE RECRUITING</DescriptionOfServices>
        <Compensation>1294571</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>DIMARE CONSTRUCTION COMPANY</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>3545 US 1 SOUTH</AddressLine1>
            <City>ST AUGUSTINE</City>
            <State>FL</State>
            <ZIPCode>32086</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>CONSTRUCTION SERVICES</DescriptionOfServices>
        <Compensation>1234567</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>WW GAY</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>524 STOCKTON ST</AddressLine1>
            <City>JACKSONVILLE</City>
            <State>FL</State>
            <ZIPCode>32204</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>MECHANICAL CONTRACTOR</DescriptionOfServices>
        <Compensation>580785</Compensation>
      </ContractorCompensation>
      <NumberOfContractorsGT100K>37</NumberOfContractorsGT100K>
      <FundraisingEvents>64581</FundraisingEvents>
      <RelatedOrganizations>1177086</RelatedOrganizations>
      <GovernmentGrants>641375</GovernmentGrants>
      <AllOtherContributions>8501080</AllOtherContributions>
      <NoncashContributions>101970</NoncashContributions>
      <TotalContributions>10384122</TotalContributions>
      <ProgramServiceRevenue>
        <Description>TUITION AND FEES</Description>
        <BusinessCode>611710</BusinessCode>
        <TotalRevenueColumn>43762281</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>43762281</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>HOUSING/FOOD SERVICE</Description>
        <BusinessCode>611710</BusinessCode>
        <TotalRevenueColumn>7823160</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>7823160</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>OTHER PROGRAM REVENUE</Description>
        <BusinessCode>611710</BusinessCode>
        <TotalRevenueColumn>387200</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>387200</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <TotalProgramServiceRevenue>51972641</TotalProgramServiceRevenue>
      <InvestmentIncome>
        <TotalRevenueColumn>1192517</TotalRevenueColumn>
        <ExclusionAmount>1192517</ExclusionAmount>
      </InvestmentIncome>
      <GrossRents>
        <Real>81552</Real>
      </GrossRents>
      <LessRentalExpenses>
        <Real>15640</Real>
      </LessRentalExpenses>
      <RentalIncomeOrLoss>
        <Real>65912</Real>
      </RentalIncomeOrLoss>
      <NetRentalIncomeOrLoss>
        <TotalRevenueColumn>65912</TotalRevenueColumn>
        <ExclusionAmount>65912</ExclusionAmount>
      </NetRentalIncomeOrLoss>
      <GrossAmountSalesAssets>
        <Securities>27885329</Securities>
      </GrossAmountSalesAssets>
      <LessCostOthBasisSalesExpenses>
        <Securities>25197425</Securities>
      </LessCostOthBasisSalesExpenses>
      <GainOrLoss>
        <Securities>2687904</Securities>
      </GainOrLoss>
      <NetGainOrLossInvestments>
        <TotalRevenueColumn>2687904</TotalRevenueColumn>
        <ExclusionAmount>2687904</ExclusionAmount>
      </NetGainOrLossInvestments>
      <GrossIncomeFundraisingEvents>59195</GrossIncomeFundraisingEvents>
      <CntrbtnsRprtdFundraisingEvents>64581</CntrbtnsRprtdFundraisingEvents>
      <FundraisingDirectExpenses>52142</FundraisingDirectExpenses>
      <NetIncomeFromFundraisingEvents>
        <TotalRevenueColumn>7053</TotalRevenueColumn>
        <ExclusionAmount>7053</ExclusionAmount>
      </NetIncomeFromFundraisingEvents>
      <GrossSalesOfInventory>581142</GrossSalesOfInventory>
      <CostOfGoodsSold>225036</CostOfGoodsSold>
      <NetIncomeOrLoss>
        <TotalRevenueColumn>356106</TotalRevenueColumn>
        <UnrelatedBusinessRevenue>356106</UnrelatedBusinessRevenue>
      </NetIncomeOrLoss>
      <OtherRevenueMisc>
        <Description>MISCELLANEOUS REVENUE</Description>
        <BusinessCode>900099</BusinessCode>
        <TotalRevenueColumn>155236</TotalRevenueColumn>
        <ExclusionAmount>155236</ExclusionAmount>
      </OtherRevenueMisc>
      <OtherRevenueMisc>
        <Description>ADVERTISING REVENUE</Description>
        <BusinessCode>541800</BusinessCode>
        <TotalRevenueColumn>13500</TotalRevenueColumn>
        <UnrelatedBusinessRevenue>13500</UnrelatedBusinessRevenue>
      </OtherRevenueMisc>
      <TotalOtherRevenue>168736</TotalOtherRevenue>
      <TotalRevenue>
        <TotalRevenueColumn>66834991</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>51972641</RelatedOrExemptFunctionIncome>
        <UnrelatedBusinessRevenue>369606</UnrelatedBusinessRevenue>
        <ExclusionAmount>4108622</ExclusionAmount>
      </TotalRevenue>
      <GrantsToDomesticIndividuals>
        <Total>10064972</Total>
        <ProgramServices>10064972</ProgramServices>
      </GrantsToDomesticIndividuals>
      <CompCurrentOfficersDirectors>
        <Total>837040</Total>
        <ManagementAndGeneral>837040</ManagementAndGeneral>
      </CompCurrentOfficersDirectors>
      <OtherSalariesAndWages>
        <Total>19258374</Total>
        <ProgramServices>13968172</ProgramServices>
        <ManagementAndGeneral>4275184</ManagementAndGeneral>
        <Fundraising>1015018</Fundraising>
      </OtherSalariesAndWages>
      <PensionPlanContributions>
        <Total>774522</Total>
        <ProgramServices>575861</ProgramServices>
        <ManagementAndGeneral>156815</ManagementAndGeneral>
        <Fundraising>41846</Fundraising>
      </PensionPlanContributions>
      <OtherEmployeeBenefits>
        <Total>2589830</Total>
        <ProgramServices>1934228</ProgramServices>
        <ManagementAndGeneral>515048</ManagementAndGeneral>
        <Fundraising>140554</Fundraising>
      </OtherEmployeeBenefits>
      <PayrollTaxes>
        <Total>1491440</Total>
        <ProgramServices>982204</ProgramServices>
        <ManagementAndGeneral>442461</ManagementAndGeneral>
        <Fundraising>66775</Fundraising>
      </PayrollTaxes>
      <FeesForServicesLegal>
        <Total>155805</Total>
        <ManagementAndGeneral>155805</ManagementAndGeneral>
      </FeesForServicesLegal>
      <FeesForServicesAccounting>
        <Total>66085</Total>
        <ManagementAndGeneral>66085</ManagementAndGeneral>
      </FeesForServicesAccounting>
      <FeesForServicesProfFundraising>
        <Total>30889</Total>
        <Fundraising>30889</Fundraising>
      </FeesForServicesProfFundraising>
      <FeesForServicesInvstMgmntFees>
        <Total>237908</Total>
        <ManagementAndGeneral>237908</ManagementAndGeneral>
      </FeesForServicesInvstMgmntFees>
      <FeesForServicesOther>
        <Total>1293193</Total>
        <ProgramServices>131394</ProgramServices>
        <ManagementAndGeneral>1093637</ManagementAndGeneral>
        <Fundraising>68162</Fundraising>
      </FeesForServicesOther>
      <Advertising>
        <Total>114259</Total>
        <ProgramServices>69801</ProgramServices>
        <ManagementAndGeneral>44458</ManagementAndGeneral>
      </Advertising>
      <OfficeExpenses>
        <Total>2855850</Total>
        <ProgramServices>780613</ProgramServices>
        <ManagementAndGeneral>1944468</ManagementAndGeneral>
        <Fundraising>130769</Fundraising>
      </OfficeExpenses>
      <Occupancy>
        <Total>4159126</Total>
        <ProgramServices>2948035</ProgramServices>
        <ManagementAndGeneral>1181070</ManagementAndGeneral>
        <Fundraising>30021</Fundraising>
      </Occupancy>
      <Travel>
        <Total>852649</Total>
        <ProgramServices>476812</ProgramServices>
        <ManagementAndGeneral>315854</ManagementAndGeneral>
        <Fundraising>59983</Fundraising>
      </Travel>
      <ConferencesMeetings>
        <Total>261158</Total>
        <ProgramServices>90971</ProgramServices>
        <ManagementAndGeneral>74802</ManagementAndGeneral>
        <Fundraising>95385</Fundraising>
      </ConferencesMeetings>
      <Interest>
        <Total>1397934</Total>
        <ProgramServices>1308841</ProgramServices>
        <ManagementAndGeneral>89093</ManagementAndGeneral>
      </Interest>
      <DepreciationDepletion>
        <Total>6575643</Total>
        <ProgramServices>6575643</ProgramServices>
      </DepreciationDepletion>
      <Insurance>
        <Total>264342</Total>
        <ProgramServices>220802</ProgramServices>
        <ManagementAndGeneral>43540</ManagementAndGeneral>
      </Insurance>
      <OtherExpenses>
        <Description>AUXILIARY SERVICES</Description>
        <Total>2452779</Total>
        <ProgramServices>2452779</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>STUDENT SERVICES</Description>
        <Total>1176235</Total>
        <ProgramServices>1176235</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>INSTRUCTION</Description>
        <Total>829813</Total>
        <ProgramServices>829813</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>ACADEMIC SUPPORT</Description>
        <Total>388872</Total>
        <ProgramServices>388872</ProgramServices>
      </OtherExpenses>
      <AllOtherExpenses>
        <Total>1317180</Total>
        <ProgramServices>407302</ProgramServices>
        <ManagementAndGeneral>680331</ManagementAndGeneral>
        <Fundraising>229547</Fundraising>
      </AllOtherExpenses>
      <TotalFunctionalExpenses>
        <Total>59445898</Total>
        <ProgramServices>45383350</ProgramServices>
        <ManagementAndGeneral>12153599</ManagementAndGeneral>
        <Fundraising>1908949</Fundraising>
      </TotalFunctionalExpenses>
      <CashNonInterestBearing>
        <BOY>13028517</BOY>
        <EOY>11516197</EOY>
      </CashNonInterestBearing>
      <SavingsAndTempCashInvestments>
        <BOY>11241032</BOY>
        <EOY>10622575</EOY>
      </SavingsAndTempCashInvestments>
      <PledgesAndGrantsReceivable>
        <BOY>172281</BOY>
        <EOY>1064740</EOY>
      </PledgesAndGrantsReceivable>
      <AccountsReceivable>
        <BOY>397899</BOY>
        <EOY>733010</EOY>
      </AccountsReceivable>
      <ReceivablesFromOfficersEtc>
        <BOY>239470</BOY>
        <EOY>208676</EOY>
      </ReceivablesFromOfficersEtc>
      <OtherNotesLoansReceivableNet>
        <BOY>391248</BOY>
        <EOY>491397</EOY>
      </OtherNotesLoansReceivableNet>
      <InventoriesForSaleOrUse>
        <BOY>190548</BOY>
        <EOY>246691</EOY>
      </InventoriesForSaleOrUse>
      <PrepaidExpensesDeferredCharges>
        <BOY>1482636</BOY>
        <EOY>1571834</EOY>
      </PrepaidExpensesDeferredCharges>
      <LandBuildingsEquipmentBasis>159184433</LandBuildingsEquipmentBasis>
      <LandBldgEquipmentAccumDeprec>52559432</LandBldgEquipmentAccumDeprec>
      <LandBuildingsEquipmentBasisNet>
        <BOY>105277389</BOY>
        <EOY>106625001</EOY>
      </LandBuildingsEquipmentBasisNet>
      <InvestmentsPubTradedSecurities>
        <BOY>37658394</BOY>
        <EOY>42582339</EOY>
      </InvestmentsPubTradedSecurities>
      <OtherAssetsTotal>
        <BOY>15006</BOY>
        <EOY>0</EOY>
      </OtherAssetsTotal>
      <TotalAssets>
        <BOY>170094420</BOY>
        <EOY>175662460</EOY>
      </TotalAssets>
      <AccountsPayableAccruedExpenses>
        <BOY>4717505</BOY>
        <EOY>3377728</EOY>
      </AccountsPayableAccruedExpenses>
      <DeferredRevenue>
        <BOY>80257</BOY>
        <EOY>200970</EOY>
      </DeferredRevenue>
      <TaxExemptBondLiabilities>
        <BOY>39931365</BOY>
        <EOY>38809174</EOY>
      </TaxExemptBondLiabilities>
      <EscrowAccountLiability>
        <BOY>346540</BOY>
        <EOY>346540</EOY>
      </EscrowAccountLiability>
      <OtherLiabilities>
        <BOY>1883626</BOY>
        <EOY>1969109</EOY>
      </OtherLiabilities>
      <TotalLiabilities>
        <BOY>46959293</BOY>
        <EOY>44703521</EOY>
      </TotalLiabilities>
      <FollowSFAS117>X</FollowSFAS117>
      <UnrestrictedNetAssets>
        <BOY>106390097</BOY>
        <EOY>113481096</EOY>
      </UnrestrictedNetAssets>
      <TemporarilyRestrictedNetAssets>
        <BOY>5437397</BOY>
        <EOY>5634190</EOY>
      </TemporarilyRestrictedNetAssets>
      <PermanentlyRestrictedNetAssets>
        <BOY>11307633</BOY>
        <EOY>11843653</EOY>
      </PermanentlyRestrictedNetAssets>
      <TotalNetAssetsFundBalances>
        <BOY>123135127</BOY>
        <EOY>130958939</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>170094420</BOY>
        <EOY>175662460</EOY>
      </TotalLiabNetAssetsFundBalances>
      <ReconcilationRevenueExpenses>7389093</ReconcilationRevenueExpenses>
      <ReconciliationUnrealizedInvest>434719</ReconciliationUnrealizedInvest>
      <ReconcilationOtherChanges>0</ReconcilationOtherChanges>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>0</AccountantCompileOrReview>
      <FSAudited>1</FSAudited>
      <FSAuditedBasis>
        <FinancialStatementConsolidated>X</FinancialStatementConsolidated>
      </FSAuditedBasis>
      <AuditCommittee>1</AuditCommittee>
      <FederalGrantAuditRequired>1</FederalGrantAuditRequired>
      <FederalGrantAuditPerformed>1</FederalGrantAuditPerformed>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc1039100001">
      <School170b1Aii>X</School170b1Aii>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <ContributorInfo>
        <ContributorNumber>RESTRICTED</ContributorNumber>
        <ContributorNameBusiness>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorNameBusiness>
        <ContributorAddressUS>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorAddressUS>
        <AggregateContributions>RESTRICTED</AggregateContributions>
      </ContributorInfo>
    </IRS990ScheduleB>
    <IRS990ScheduleC documentId="RetDoc1039500001">
      <PoliticalExpenditures>0</PoliticalExpenditures>
      <VolunteerHours>0</VolunteerHours>
      <AmtOf4955Tax>0</AmtOf4955Tax>
      <AmtOf4955TaxOnManagers>0</AmtOf4955TaxOnManagers>
      <Volunteers>1</Volunteers>
      <PaidStaffOrManagement>1</PaidStaffOrManagement>
      <MediaAdvertisements>0</MediaAdvertisements>
      <MailingsMembers>0</MailingsMembers>
      <PublicationsOrBroadcast>0</PublicationsOrBroadcast>
      <GrantsOtherOrganizations>1</GrantsOtherOrganizations>
      <GrantsOtherOrganizationsAmount>61064</GrantsOtherOrganizationsAmount>
      <DirectContactLegislators>0</DirectContactLegislators>
      <RalliesDemonstrations>0</RalliesDemonstrations>
      <OtherActivities>0</OtherActivities>
      <TotalLobbyingExpendituresIIB>61064</TotalLobbyingExpendituresIIB>
      <NotDescribedIn501c3>0</NotDescribedIn501c3>
      <Form990ScheduleCPartIV>
        <Identifier>EXPLANATION OF LOBBYING ACTIVITIES:</Identifier>
        <ReturnReference>PART II-B, LINE 1:</ReturnReference>
        <Explanation>THE COLLEGE RETAINS THE SERVICES OF A CONTRACTOR WHO ASSISTS WITH RAISING THE VISIBILITY OF THE COLLEGE AND IDENTIFYING POTENTIAL FEDERAL FUNDING FOR THE COLLEGE'S STRATEGIC NEEDS.</Explanation>
      </Form990ScheduleCPartIV>
    </IRS990ScheduleC>
    <IRS990ScheduleD documentId="RetDoc1039900001">
      <HistoricStructure>X</HistoricStructure>
      <TotalNumberOfEasements>1</TotalNumberOfEasements>
      <TotalAcreage>3.00</TotalAcreage>
      <NmbrHistStructEasements>1</NmbrHistStructEasements>
      <NmbrHistStructEasementsAfter>0</NmbrHistStructEasementsAfter>
      <NmbrEasementsModified>0</NmbrEasementsModified>
      <NmbrStatesInWhichEasementsHeld>1</NmbrStatesInWhichEasementsHeld>
      <WrittenPolicyMonitoring>1</WrittenPolicyMonitoring>
      <StaffHoursSpentOnEnforcement>15.00</StaffHoursSpentOnEnforcement>
      <Sect170hRequirementsSatisfied>1</Sect170hRequirementsSatisfied>
      <ArtPublicExhibitionAmts>
        <AssetsInPartX>382809</AssetsInPartX>
      </ArtPublicExhibitionAmts>
      <CollectUsedForPublicExhibition>X</CollectUsedForPublicExhibition>
      <CollectUsedForScholarResearch>X</CollectUsedForScholarResearch>
      <CollectUsedForPreservation>X</CollectUsedForPreservation>
      <CollectUsedForLoanOrExchPrgrms>X</CollectUsedForLoanOrExchPrgrms>
      <SolicitedAssetsForSale>0</SolicitedAssetsForSale>
      <AgentTrusteeEtc>0</AgentTrusteeEtc>
      <IncludedOnFS>1</IncludedOnFS>
      <ExplanationInPartXIII>X</ExplanationInPartXIII>
      <CurrentYear>
        <BeginningOfYearBalance>54917051</BeginningOfYearBalance>
        <Contributions>784045</Contributions>
        <InvestmentEarningsOrLosses>4466246</InvestmentEarningsOrLosses>
        <GrantsOrScholarships>2042486</GrantsOrScholarships>
        <EndOfYearBalance>58124856</EndOfYearBalance>
      </CurrentYear>
      <CurrentYearMinus1Year>
        <BeginningOfYearBalance>53715494</BeginningOfYearBalance>
        <Contributions>1222788</Contributions>
        <InvestmentEarningsOrLosses>1077378</InvestmentEarningsOrLosses>
        <GrantsOrScholarships>1098609</GrantsOrScholarships>
        <EndOfYearBalance>54917051</EndOfYearBalance>
      </CurrentYearMinus1Year>
      <CurrentYearMinus2Years>
        <BeginningOfYearBalance>40404265</BeginningOfYearBalance>
        <Contributions>2697750</Contributions>
        <InvestmentEarningsOrLosses>11673140</InvestmentEarningsOrLosses>
        <GrantsOrScholarships>1059661</GrantsOrScholarships>
        <EndOfYearBalance>53715494</EndOfYearBalance>
      </CurrentYearMinus2Years>
      <CurrentYearMinus3Years>
        <BeginningOfYearBalance>36972102</BeginningOfYearBalance>
        <Contributions>817815</Contributions>
        <InvestmentEarningsOrLosses>2991947</InvestmentEarningsOrLosses>
        <GrantsOrScholarships>377599</GrantsOrScholarships>
        <EndOfYearBalance>40404265</EndOfYearBalance>
      </CurrentYearMinus3Years>
      <CurrentYearMinus4Years>
        <BeginningOfYearBalance>42095813</BeginningOfYearBalance>
        <Contributions>516704</Contributions>
        <InvestmentEarningsOrLosses>-5173498</InvestmentEarningsOrLosses>
        <GrantsOrScholarships>466917</GrantsOrScholarships>
        <EndOfYearBalance>36972102</EndOfYearBalance>
      </CurrentYearMinus4Years>
      <BoardDesignatedEOYBalance>0.65190</BoardDesignatedEOYBalance>
      <PermanentEndowmentEOYBalance>0.27600</PermanentEndowmentEOYBalance>
      <TermEndowmentEOYBalance>0.07210</TermEndowmentEOYBalance>
      <EndowmentsHeldByUnrelatedOrgs>0</EndowmentsHeldByUnrelatedOrgs>
      <EndowmentsHeldByRelatedOrgs>1</EndowmentsHeldByRelatedOrgs>
      <AreRelatedOrgsListedScheduleR>1</AreRelatedOrgsListedScheduleR>
      <Land>
        <OtherCostOrOtherBasis>12183965</OtherCostOrOtherBasis>
        <BookValue>12183965</BookValue>
      </Land>
      <Buildings>
        <OtherCostOrOtherBasis>54021043</OtherCostOrOtherBasis>
        <Depreciation>12131246</Depreciation>
        <BookValue>41889797</BookValue>
      </Buildings>
      <LeaseholdImprovements>
        <OtherCostOrOtherBasis>64517007</OtherCostOrOtherBasis>
        <Depreciation>24312221</Depreciation>
        <BookValue>40204786</BookValue>
      </LeaseholdImprovements>
      <Equipment>
        <OtherCostOrOtherBasis>12775781</OtherCostOrOtherBasis>
        <Depreciation>9127437</Depreciation>
        <BookValue>3648344</BookValue>
      </Equipment>
      <OtherLandBuildings>
        <OtherCostOrOtherBasis>15686637</OtherCostOrOtherBasis>
        <Depreciation>6988528</Depreciation>
        <BookValue>8698109</BookValue>
      </OtherLandBuildings>
      <TotalOfBookValueLandBuildings>106625001</TotalOfBookValueLandBuildings>
      <OtherLiabilities>
        <Description>BOND PREMIUM</Description>
        <Amount>1054139</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>STUDENT DEPOSITS</Description>
        <Amount>846170</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>OTHER LIABILITIES</Description>
        <Amount>68800</Amount>
      </OtherLiabilities>
      <TotalOfAmounts>1969109</TotalOfAmounts>
      <FootnoteInPartXIII>X</FootnoteInPartXIII>
      <Form990ScheduleDPartXIII>
        <Identifier>EXPLANATION OF CHANGES TO CONSERVATION EASEMENTS:</Identifier>
        <ReturnReference>PART II, LINE 3:</ReturnReference>
        <Explanation>THE COLLEGE'S CONSERVATION EASEMENT HAS BEEN ESTABLISHED FOR THE HOTEL PONCE DE LEON, MARKLAND HOUSE, WILEY HALL AND THE GENERAL'S HOUSE. THE HOTEL PONCE DE LEON WAS CONSTRUCTED FROM 1885-1888 AND WAS THE FIRST BUILDING IN THE UNITED STATES TO BE CONSTRUCTED OF CAST-IN-PLACE CONCRETE. IN THE PAST, THE HOTEL PONCE DE LEON HAS ENTERTAINED WEALTHY PATRONS LIKE THE ROCKEFELLERS AND VANDERBILTS AS WELL AS FIVE PRESIDENTS OF THE UNITED STATES. TODAY THE ROOMS THAT WERE ONCE OCCUPIED BY THE WEALTHY AND NOTABLE ARE INHABITED BY THE STUDENTS OF FLAGLER COLLEGE. THE MARKLAND HOUSE (ALSO KNOWN AS THE ANDERSON HOUSE) WAS CONSTRUCTED BY THE ANDERSON FAMILY FROM 1839-1842. IN 1885, DR. ANDERSON BECAME A CONFIDANT OF STANDARD OIL MAGNATE HENRY M. FLAGLER AND HELPED FLAGLER THROUGHOUT HIS VENTURES IN FLORIDA HOTELS AND RAILROADS. TODAY, THE MARKLAND HOUSE SERVES AS A VENUE FOR MANY SOCIAL EVENTS AT FLAGLER COLLEGE. WILEY HALL WAS CONSTRUCTED IN 1898 AND ORIGINALLY SERVED AS HOUSING FOR THE HOTEL PHYSICIAN. TODAY, THE BUILDING HOUSES FLAGLER COLLEGE'S OFFICE OF ADMISSION, REGISTRAR, FINANCIAL AID AND THE OFFICES OF THE BUSINESS DEPARTMENT FACULTY. THE GENERAL'S HOUSE WAS CONSTRUCTED BETWEEN 1887 AND 1891 AND SERVED THE HOME FOR THE MANAGER OF THE HOTEL PONCE DE LEON. BY 1899 IT WAS BEING RENTED AS A WINTER "COTTAGE" FOR SEASONAL RESIDENTS FROM THE NORTH.</Explanation>
      </Form990ScheduleDPartXIII>
      <Form990ScheduleDPartXIII>
        <ReturnReference>PART III, LINE 4:</ReturnReference>
        <Explanation>THE COLLEGE'S COLLECTION INCLUDES VARIOUS WORKS OF ART FROM THE PONCE DE LEON HOTEL AND DONATIONS WHICH FURTHER THE COLLEGE'S EXEMPT PURPOSE BY PROVIDING EDUCATIONAL VALUE TO THE COLLEGE.</Explanation>
      </Form990ScheduleDPartXIII>
      <Form990ScheduleDPartXIII>
        <ReturnReference>PART IV, LINE 2B:</ReturnReference>
        <Explanation>FUNDS PROVIDED BY THE UNITED STATES GOVERNMENT UNDER THE FEDERAL PERKINS LOAN PROGRAM ARE LOANED TO QUALIFIED STUDENTS AND MAY BE RE-LOANED AFTER COLLECTIONS. THESE FUNDS ARE ULTIMATELY REFUNDABLE TO THE GOVERNMENT.</Explanation>
      </Form990ScheduleDPartXIII>
      <Form990ScheduleDPartXIII>
        <Identifier>DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS:</Identifier>
        <ReturnReference>PART V, LINE 4:</ReturnReference>
        <Explanation>THE COLLEGE MAINTAINS THE ENDOWMENT FUNDS ACCORDING TO DONOR RESTRICTIONS FOR SCHOLARSHIPS AND PROGRAMS.</Explanation>
      </Form990ScheduleDPartXIII>
      <Form990ScheduleDPartXIII>
        <Identifier>DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48:</Identifier>
        <ReturnReference>PART X, LINE 2:</ReturnReference>
        <Explanation>THE COLLEGE IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IN ADDITION, THE COLLEGE QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION UNDER SECTION 170(B)(1)(A) AND HAS BEEN CLASSIFIED AS AN ORGANIZATION OTHER THAN A PRIVATE FOUNDATION UNDER SECTION 509(A)(2). THE COLLEGE IS SUBJECT TO FEDERAL INCOME TAX ONLY ON NET UNRELATED BUSINESS INCOME UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. THE COLLEGE HAS EVALUATED ITS TAX POSITIONS AND DETERMINED IT HAS NO UNCERTAIN TAX POSITIONS AND HAS RECORDED ANY OBLIGATIONS FOR UNRELATED BUSINESS INCOME TAX. THE COLLEGE'S 2010 THROUGH 2013 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL AND STATE TAXING AUTHORITIES.</Explanation>
      </Form990ScheduleDPartXIII>
    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="RetDoc1040400001">
      <NondiscriminatoryPolicyStmt>1</NondiscriminatoryPolicyStmt>
      <PolicyStatementInBrochuresEtc>1</PolicyStatementInBrochuresEtc>
      <PolicyPublViaBroadcastMedia>1</PolicyPublViaBroadcastMedia>
      <MaintRacialCompositionRecords>1</MaintRacialCompositionRecords>
      <MaintScholarshipsRecords>1</MaintScholarshipsRecords>
      <MaintCopiesOfBrochuresEtc>1</MaintCopiesOfBrochuresEtc>
      <MaintCopiesOfAllSolicitations>1</MaintCopiesOfAllSolicitations>
      <DiscriminateRaceStudentsRights>0</DiscriminateRaceStudentsRights>
      <DiscriminateRaceAdmissPolicies>0</DiscriminateRaceAdmissPolicies>
      <DiscriminateRaceEmplmnFaculty>0</DiscriminateRaceEmplmnFaculty>
      <DiscriminateRaceScholarships>0</DiscriminateRaceScholarships>
      <DiscriminateRaceEducPolicies>0</DiscriminateRaceEducPolicies>
      <DiscriminateRaceUseOfFclts>0</DiscriminateRaceUseOfFclts>
      <DiscriminateRaceAthleticProg>0</DiscriminateRaceAthleticProg>
      <DiscriminateRaceOtherActy>0</DiscriminateRaceOtherActy>
      <GovernmentFinancialAidReceived>1</GovernmentFinancialAidReceived>
      <GovernmentFinancialAidRevoked>0</GovernmentFinancialAidRevoked>
      <ComplianceWithRevProc7550>1</ComplianceWithRevProc7550>
      <Form990ScheduleEPartII>
        <Identifier>EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION</Identifier>
        <ReturnReference>SCHEDULE E, PART I, LINE 3</ReturnReference>
        <Explanation>THE COLLEGE ISSUES ITS CATALOG AND VIEWBOOKS FOR PUBLIC INSPECTION, BOTH DISCLOSE THE NONDISCRIMINATORY POLICY. THE SCHOOL DRAWS A SUBSTANTIAL PERCENTAGE OF STUDENTS NATIONWIDE AND FOLLOWS A RACIALLY NONDISCRIMINATORY POLICY AS TO STUDENTS.</Explanation>
      </Form990ScheduleEPartII>
      <Form990ScheduleEPartII>
        <Identifier>EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE</Identifier>
        <ReturnReference>SCHEDULE E, PART I, LINE 6</ReturnReference>
        <Explanation>THE COLLEGE RECEIVES FEDERAL AID OR ASSISTANCE FROM THE DEPARTMENT OF EDUCATION.</Explanation>
      </Form990ScheduleEPartII>
    </IRS990ScheduleE>
    <IRS990ScheduleG documentId="RetDoc1041200001">
      <MailSolicitations>X</MailSolicitations>
      <EmailSolicitations>X</EmailSolicitations>
      <PhoneSolicitations>X</PhoneSolicitations>
      <InPersonSolicitations>X</InPersonSolicitations>
      <SolicitationOfNonGovtGrants>X</SolicitationOfNonGovtGrants>
      <SolicitationOfGovtGrants>X</SolicitationOfGovtGrants>
      <SpecialFundraisingEvents>X</SpecialFundraisingEvents>
      <AgreementRefFundraising>1</AgreementRefFundraising>
      <FundraiserActivityInformation>
        <NameOfOrganization>
          <BusinessNameLine1>ALIGNMENT PARTNERS</BusinessNameLine1>
        </NameOfOrganization>
        <AddressUS>
          <AddressLine1>9930 WILLOW LEAF LANE</AddressLine1>
          <City>CORNELIUS</City>
          <State>NC</State>
          <ZIPCode>28031</ZIPCode>
        </AddressUS>
        <Activity>VOICE OF THE CUSTOMER SURVERY, ADVISOR SOLUTIONS PROJECT, PR</Activity>
        <FundraiserControlOfFunds>0</FundraiserControlOfFunds>
        <GrossReceipts>0</GrossReceipts>
        <AmountRetainedByContractor>23389</AmountRetainedByContractor>
        <NetToOrganization>0</NetToOrganization>
      </FundraiserActivityInformation>
      <FundraiserActivityInformation>
        <NameOfIndividual>SHARON GREENE</NameOfIndividual>
        <AddressUS>
          <AddressLine1>619 SEABREEZE DRIVE</AddressLine1>
          <City>ST SIMONS ISLAND</City>
          <State>GA</State>
          <ZIPCode>31522</ZIPCode>
        </AddressUS>
        <Activity>GRANT WRITING AND RESEARCH</Activity>
        <FundraiserControlOfFunds>0</FundraiserControlOfFunds>
        <GrossReceipts>0</GrossReceipts>
        <AmountRetainedByContractor>7500</AmountRetainedByContractor>
        <NetToOrganization>0</NetToOrganization>
      </FundraiserActivityInformation>
      <TotalRetainedByContractors>30889</TotalRetainedByContractors>
      <LicensedStates>FL</LicensedStates>
      <EventsInformation>
        <NameOfEvent1>NEW YEAR'S EVE BALL</NameOfEvent1>
        <GrossReceiptsEvent1>33800</GrossReceiptsEvent1>
        <CharitableContributionsEvent1>12874</CharitableContributionsEvent1>
        <GrossRevenueEvent1>20926</GrossRevenueEvent1>
        <RentFacilityCostsEvent1>2905</RentFacilityCostsEvent1>
        <FoodAndBeverageEvent1>11414</FoodAndBeverageEvent1>
        <EntertainmentEvent1>3500</EntertainmentEvent1>
        <OtherDirectExpensesEvent1>3132</OtherDirectExpensesEvent1>
        <NameOfEvent2>PRESIDENT'S GOLF TOURNAMENT</NameOfEvent2>
        <GrossReceiptsEvent2>89976</GrossReceiptsEvent2>
        <CharitableContributionsEvent2>51707</CharitableContributionsEvent2>
        <GrossRevenueEvent2>38269</GrossRevenueEvent2>
        <RentFacilityCostsEvent2>15797</RentFacilityCostsEvent2>
        <FoodAndBeverageEvent2>610</FoodAndBeverageEvent2>
        <EntertainmentEvent2>8072</EntertainmentEvent2>
        <OtherDirectExpensesEvent2>6712</OtherDirectExpensesEvent2>
        <GrossReceiptsTotal>123776</GrossReceiptsTotal>
        <CharitableContributionsTotal>64581</CharitableContributionsTotal>
        <GrossRevenueTotalEvents>59195</GrossRevenueTotalEvents>
        <RentFacilityCostsTotalEvents>18702</RentFacilityCostsTotalEvents>
        <FoodAndBeverageTotalEvents>12024</FoodAndBeverageTotalEvents>
        <EntertainmentTotalEvents>11572</EntertainmentTotalEvents>
        <OtherDirectExpensesTotalEvents>9844</OtherDirectExpensesTotalEvents>
        <DirectExpenseSummaryEvents>52142</DirectExpenseSummaryEvents>
        <NetIncomeSummary>7053</NetIncomeSummary>
      </EventsInformation>
    </IRS990ScheduleG>
    <IRS990ScheduleI documentId="RetDoc1041900001">
      <RecordsMaintained>1</RecordsMaintained>
      <Form990ScheduleIPartIII>
        <TypeOfGrant>INSTITUIONAL GRANTS</TypeOfGrant>
        <NumberOfRecipients>1176</NumberOfRecipients>
        <AmountOfCashGrant>3329818</AmountOfCashGrant>
        <MethodOfValuation>N/A</MethodOfValuation>
        <DescriptionOfNonCashAssistance>N/A</DescriptionOfNonCashAssistance>
      </Form990ScheduleIPartIII>
      <Form990ScheduleIPartIII>
        <TypeOfGrant>ATHLETIC SCHOLARSHIPS</TypeOfGrant>
        <NumberOfRecipients>163</NumberOfRecipients>
        <AmountOfCashGrant>1287357</AmountOfCashGrant>
        <MethodOfValuation>N/A</MethodOfValuation>
        <DescriptionOfNonCashAssistance>N/A</DescriptionOfNonCashAssistance>
      </Form990ScheduleIPartIII>
      <Form990ScheduleIPartIII>
        <TypeOfGrant>OTHER SCHOLARSHIPS AND FINANCIAL AID</TypeOfGrant>
        <NumberOfRecipients>1359</NumberOfRecipients>
        <AmountOfCashGrant>5447797</AmountOfCashGrant>
        <MethodOfValuation>N/A</MethodOfValuation>
        <DescriptionOfNonCashAssistance>N/A</DescriptionOfNonCashAssistance>
      </Form990ScheduleIPartIII>
      <Form990ScheduleIPartIV>
        <Identifier>PROCEDURE FOR MONITORING GRANTS IN THE U.S.:</Identifier>
        <ReturnReference>PART I, LINE 2:</ReturnReference>
        <Explanation>SCHEDULE I, PART I, LINE 2: THE COLLEGE'S GRANTS ARE PRIMARILY MONITORED IN THE FINANCIAL AID DEPARTMENT THROUGH THE UTILIZATION OF WRITTEN AND ELECTRONIC DOCUMENTATION. STUDENTS RECEIVING GRANTS AND SCHOLARSHIPS ARE DEEMED WORTHY BY THE COLLEGE'S ASSESSMENT ON THE BASIS OF ACHIEVEMENT AND FINANCIAL NEED.</Explanation>
      </Form990ScheduleIPartIV>
    </IRS990ScheduleI>
    <IRS990ScheduleJ documentId="RetDoc1042400001">
      <IdemnificationGrossUpPayments>X</IdemnificationGrossUpPayments>
      <HousingAllowanceOrResidence>X</HousingAllowanceOrResidence>
      <ClubDuesOrFees>X</ClubDuesOrFees>
      <WrittenPolicyReTAndEExpenses>1</WrittenPolicyReTAndEExpenses>
      <SubstantiationRequired>1</SubstantiationRequired>
      <CompensationCommittee>X</CompensationCommittee>
      <IndependentConsultant>X</IndependentConsultant>
      <WrittenEmploymentContract>X</WrittenEmploymentContract>
      <CompensationSurvey>X</CompensationSurvey>
      <BoardOrCommitteeApproval>X</BoardOrCommitteeApproval>
      <SeverancePayment>0</SeverancePayment>
      <SupplementalNonqualRetirePlan>0</SupplementalNonqualRetirePlan>
      <EquityBasedCompArrangement>0</EquityBasedCompArrangement>
      <CompBasedOnRevenueOfFilingOrg>0</CompBasedOnRevenueOfFilingOrg>
      <CompBasedOnRevenueRelatedOrgs>0</CompBasedOnRevenueRelatedOrgs>
      <CompBasedNetEarningsFilingOrg>0</CompBasedNetEarningsFilingOrg>
      <CompBasedNetEarningsRelateOrgs>0</CompBasedNetEarningsRelateOrgs>
      <AnyNonFixedPayments>0</AnyNonFixedPayments>
      <InitialContractException>0</InitialContractException>
      <Form990ScheduleJPartII>
        <NamePerson>DR WILLIAM T ABARE JR</NamePerson>
        <Title>PRESIDENT</Title>
        <BaseCompensationFilingOrg>185993</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>25000</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>216678</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>0</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>60237</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>487908</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>DR WILLIAM L PROCTOR</NamePerson>
        <Title>CHANCELLOR</Title>
        <BaseCompensationFilingOrg>166950</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>0</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>5735</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>172685</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>ALAN WOOLFOLK</NamePerson>
        <Title>DEAN OF ACADEMIC AFFAIRS</Title>
        <BaseCompensationFilingOrg>141711</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>7325</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>5502</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>154538</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>MARK WHITTAKER</NamePerson>
        <Title>VICE PRESIDENT OF INSTITUT</Title>
        <BaseCompensationFilingOrg>142698</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>7479</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>14228</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>164405</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartIII>
        <ReturnReference>PART I, LINE 1A</ReturnReference>
        <Explanation>DR. WILLIAM T. ABARE, JR. - HOUSING ALLOWANCE AND A TAX GROSS-UP PROVISION, BOTH OF WHICH WERE INCLUDED IN TAXABLE INCOME. DR. WILLIAM T. ABARE, JR., KENNETH S. RUSSOM, DR. WILLIAM L. PROCTOR - ANNUAL DUES TO COUNTRY CLUB, NOT INCLUDED IN TAXABLE INCOME BECAUSE THEY WERE USED FOR BUSINESS PURPOSE ONLY.</Explanation>
      </Form990ScheduleJPartIII>
    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="RetDoc1053100001">
      <Form990ScheduleKPartI>
        <BondReferenceCd>A</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1>HIGHER EDUCATIONAL FACILITIES FINANCING AUTHORITY</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>900058227</IssuerEIN>
        <CUSIPNumber>34073TAD9</CUSIPNumber>
        <DateIssued>2003-11-16</DateIssued>
        <IssuePrice>22000000</IssuePrice>
        <DescriptionOfPurpose>CONSTRUCTION AND RENOVATION PROJECTS</DescriptionOfPurpose>
        <Defeased>0</Defeased>
        <OnBehalfOfIssuer>0</OnBehalfOfIssuer>
        <PoolFinancing>0</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartI>
        <BondReferenceCd>B</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1>HIGHER EDUCATIONAL FACILITIES FINANCING AUTHORITY</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>900058227</IssuerEIN>
        <CUSIPNumber>34073TAW7</CUSIPNumber>
        <DateIssued>2006-12-21</DateIssued>
        <IssuePrice>21212458</IssuePrice>
        <DescriptionOfPurpose>ACQUISITION, CONSTRUCTION, AND EQUIPPING OF EDUCATIONAL FACILITIES</DescriptionOfPurpose>
        <Defeased>0</Defeased>
        <OnBehalfOfIssuer>0</OnBehalfOfIssuer>
        <PoolFinancing>0</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartI>
        <BondReferenceCd>C</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1>ST JOHN'S COUNTY EDUCATIONAL FACILITIES AUTHORITY</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>452448434</IssuerEIN>
        <DateIssued>2011-05-20</DateIssued>
        <IssuePrice>10000000</IssuePrice>
        <DescriptionOfPurpose>CONSTRUCTION AND RENOVATION PROJECTS</DescriptionOfPurpose>
        <Defeased>0</Defeased>
        <OnBehalfOfIssuer>0</OnBehalfOfIssuer>
        <PoolFinancing>0</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartII>
        <BondReferenceCd>A</BondReferenceCd>
        <AmountRetired>10727327</AmountRetired>
        <TotalProceeds>22000000</TotalProceeds>
        <IssuanceCostsFromProceeds>134714</IssuanceCostsFromProceeds>
        <WorkingCapitalExpenditures>5399</WorkingCapitalExpenditures>
        <CapitalExpenditures>17593276</CapitalExpenditures>
        <OtherSpentProceeds>5100000</OtherSpentProceeds>
        <YearOfSubstCompletion>2008</YearOfSubstCompletion>
        <CurrentRefunding>1</CurrentRefunding>
        <AdvanceRefunding>0</AdvanceRefunding>
        <FinalAllocationMade>1</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>1</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartII>
        <BondReferenceCd>B</BondReferenceCd>
        <AmountRetired>1900000</AmountRetired>
        <TotalProceeds>21212458</TotalProceeds>
        <IssuanceCostsFromProceeds>462306</IssuanceCostsFromProceeds>
        <CapitalExpenditures>21225964</CapitalExpenditures>
        <YearOfSubstCompletion>2010</YearOfSubstCompletion>
        <CurrentRefunding>0</CurrentRefunding>
        <AdvanceRefunding>0</AdvanceRefunding>
        <FinalAllocationMade>1</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>1</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartII>
        <BondReferenceCd>C</BondReferenceCd>
        <AmountRetired>563499</AmountRetired>
        <TotalProceeds>10000000</TotalProceeds>
        <IssuanceCostsFromProceeds>115000</IssuanceCostsFromProceeds>
        <CapitalExpenditures>2122897</CapitalExpenditures>
        <OtherSpentProceeds>7762103</OtherSpentProceeds>
        <YearOfSubstCompletion>2011</YearOfSubstCompletion>
        <CurrentRefunding>0</CurrentRefunding>
        <AdvanceRefunding>0</AdvanceRefunding>
        <FinalAllocationMade>0</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>0</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartIII>
        <BondReferenceCd>A</BondReferenceCd>
        <OwningBondFinancedProperty>0</OwningBondFinancedProperty>
        <AnyLeaseArrangements>1</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>1</MngmentCntrctBondFinancdPrprty>
        <EngageBondCounselContracts>1</EngageBondCounselContracts>
        <AnyResearchAgreements>0</AnyResearchAgreements>
        <PrcntgePrvtBusinessUseByOthers>0.04580</PrcntgePrvtBusinessUseByOthers>
        <TotalPrivateBusinessUse>0.04580</TotalPrivateBusinessUse>
        <BondIssMeetPrvtSecurityPayTest>0</BondIssMeetPrvtSecurityPayTest>
        <ChangeInUseBondFinancedProp>0</ChangeInUseBondFinancedProp>
        <NonQualifiedBondRemedProcdrs>0</NonQualifiedBondRemedProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIII>
        <BondReferenceCd>B</BondReferenceCd>
        <OwningBondFinancedProperty>0</OwningBondFinancedProperty>
        <AnyLeaseArrangements>0</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>0</MngmentCntrctBondFinancdPrprty>
        <AnyResearchAgreements>0</AnyResearchAgreements>
        <PrcntgePrvtBusinessUseByOthers>0.00000</PrcntgePrvtBusinessUseByOthers>
        <TotalPrivateBusinessUse>0.00000</TotalPrivateBusinessUse>
        <BondIssMeetPrvtSecurityPayTest>0</BondIssMeetPrvtSecurityPayTest>
        <ChangeInUseBondFinancedProp>0</ChangeInUseBondFinancedProp>
        <NonQualifiedBondRemedProcdrs>0</NonQualifiedBondRemedProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIII>
        <BondReferenceCd>C</BondReferenceCd>
        <OwningBondFinancedProperty>0</OwningBondFinancedProperty>
        <AnyLeaseArrangements>0</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>0</MngmentCntrctBondFinancdPrprty>
        <AnyResearchAgreements>0</AnyResearchAgreements>
        <PrcntgePrvtBusinessUseByOthers>0.00000</PrcntgePrvtBusinessUseByOthers>
        <TotalPrivateBusinessUse>0.00000</TotalPrivateBusinessUse>
        <BondIssMeetPrvtSecurityPayTest>0</BondIssMeetPrvtSecurityPayTest>
        <ChangeInUseBondFinancedProp>0</ChangeInUseBondFinancedProp>
        <NonQualifiedBondRemedProcdrs>0</NonQualifiedBondRemedProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIV>
        <BondReferenceCd>A</BondReferenceCd>
        <Form8038TFiled>1</Form8038TFiled>
        <VariableRateIssue>1</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>0</HedgeIdentifiedInBooksAndRecds>
        <GrossProceedsInvestedInGIC>0</GrossProceedsInvestedInGIC>
        <GrossProceedsInvested>0</GrossProceedsInvested>
        <WrittenProcToMonitorReqs>0</WrittenProcToMonitorReqs>
      </Form990ScheduleKPartIV>
      <Form990ScheduleKPartIV>
        <BondReferenceCd>B</BondReferenceCd>
        <Form8038TFiled>1</Form8038TFiled>
        <VariableRateIssue>0</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>0</HedgeIdentifiedInBooksAndRecds>
        <GrossProceedsInvestedInGIC>0</GrossProceedsInvestedInGIC>
        <GrossProceedsInvested>0</GrossProceedsInvested>
        <WrittenProcToMonitorReqs>0</WrittenProcToMonitorReqs>
      </Form990ScheduleKPartIV>
      <Form990ScheduleKPartIV>
        <BondReferenceCd>C</BondReferenceCd>
        <Form8038TFiled>0</Form8038TFiled>
        <RebateNotDueYet>0</RebateNotDueYet>
        <ExceptionToRebate>0</ExceptionToRebate>
        <NoRebateDue>0</NoRebateDue>
        <VariableRateIssue>0</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>0</HedgeIdentifiedInBooksAndRecds>
        <GrossProceedsInvestedInGIC>0</GrossProceedsInvestedInGIC>
        <GrossProceedsInvested>0</GrossProceedsInvested>
        <WrittenProcToMonitorReqs>0</WrittenProcToMonitorReqs>
      </Form990ScheduleKPartIV>
    </IRS990ScheduleK>
    <IRS990ScheduleL documentId="RetDoc1042800001">
      <LoanTable>
        <NamePerson>DR WILLIAM T ABARE</NamePerson>
        <PurposeOfLoan>HOME MORTGAGE</PurposeOfLoan>
        <LoanFromOrganization>X</LoanFromOrganization>
        <OriginalPrincipalAmount>381650</OriginalPrincipalAmount>
        <BalanceDue>171376</BalanceDue>
        <Default>0</Default>
        <ApprovedByBoard>1</ApprovedByBoard>
        <WrittenAgreement>1</WrittenAgreement>
      </LoanTable>
      <LoanTable>
        <NamePerson>ALAN WOOLFOLK</NamePerson>
        <PurposeOfLoan>MOVING EXPENSES</PurposeOfLoan>
        <LoanFromOrganization>X</LoanFromOrganization>
        <OriginalPrincipalAmount>40000</OriginalPrincipalAmount>
        <BalanceDue>37300</BalanceDue>
        <Default>0</Default>
        <ApprovedByBoard>0</ApprovedByBoard>
        <WrittenAgreement>1</WrittenAgreement>
      </LoanTable>
      <TotalBalanceDue>208676</TotalBalanceDue>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>WILLIAM W GAY</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>FORMER COLLEGE TRUSTEE, INDEPENDENT CONTRACTOR</Relationship>
        <AmountOfTransaction>580785</AmountOfTransaction>
        <DescriptionOfTransaction>PROFESSIONAL SERVICES</DescriptionOfTransaction>
        <SharingOfRevenues>0</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>JACK WILSON</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>BOARD TRUSTEE, INDEPDENT CONTRACTOR</Relationship>
        <AmountOfTransaction>5325</AmountOfTransaction>
        <DescriptionOfTransaction>VEHICLE PURCHASES/REPAIRS</DescriptionOfTransaction>
        <SharingOfRevenues>0</SharingOfRevenues>
      </Form990ScheduleLPartIV>
    </IRS990ScheduleL>
    <IRS990ScheduleM documentId="RetDoc1042900001">
      <SecuritiesPubliclyTraded>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>5</NumberOfContributions>
        <NoncashContribsRptdF990>21675</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>STOCK MARKET QUOTES</MethodOfDeterminingRevenues>
      </SecuritiesPubliclyTraded>
      <OtherNonCashContributionsTable>
        <NonCashCheckbox>X</NonCashCheckbox>
        <Description>FOOD, BEVERAGE &amp; RENT FOR EVENTS</Description>
        <NumberOfContributions>3</NumberOfContributions>
        <NoncashContribsRptdF990>18000</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>FAIR MARKET VALUE</MethodOfDeterminingRevenues>
      </OtherNonCashContributionsTable>
      <OtherNonCashContributionsTable>
        <NonCashCheckbox>X</NonCashCheckbox>
        <Description>GOLF TOURNAMENT GIFTS - TICKETS</Description>
        <NumberOfContributions>1</NumberOfContributions>
        <NoncashContribsRptdF990>1200</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>FAIR MARKET VALUE</MethodOfDeterminingRevenues>
      </OtherNonCashContributionsTable>
      <OtherNonCashContributionsTable>
        <NonCashCheckbox>X</NonCashCheckbox>
        <Description>GOLF TOURNAMENT GIFTS - OTHER</Description>
        <NumberOfContributions>4</NumberOfContributions>
        <NoncashContribsRptdF990>25621</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>FAIR MARKET VALUE</MethodOfDeterminingRevenues>
      </OtherNonCashContributionsTable>
      <OtherNonCashContributionsTable>
        <NonCashCheckbox>X</NonCashCheckbox>
        <Description>FLOWERS</Description>
        <NumberOfContributions>1</NumberOfContributions>
        <NoncashContribsRptdF990>56</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>FAIR MARKET VALUE</MethodOfDeterminingRevenues>
      </OtherNonCashContributionsTable>
      <OtherNonCashContributionsTable>
        <NonCashCheckbox>X</NonCashCheckbox>
        <Description>GIK AGREEMENTS</Description>
        <NumberOfContributions>1</NumberOfContributions>
        <NoncashContribsRptdF990>35100</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>FAIR MARKET VALUE</MethodOfDeterminingRevenues>
      </OtherNonCashContributionsTable>
      <OtherNonCashContributionsTable>
        <NonCashCheckbox>X</NonCashCheckbox>
        <Description>PHOTO</Description>
        <NumberOfContributions>2</NumberOfContributions>
        <NoncashContribsRptdF990>318</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>FAIR MARKET VALUE</MethodOfDeterminingRevenues>
      </OtherNonCashContributionsTable>
      <AnyPropertyThatMustBeHeld>0</AnyPropertyThatMustBeHeld>
      <ReviewProcessUnusualNCGifts>1</ReviewProcessUnusualNCGifts>
      <ThirdPartiesUsed>0</ThirdPartiesUsed>
      <Form990ScheduleMPartII>
        <Identifier>METHOD FOR DETERMINING NUMBER OF CONTRIBUTIONS:</Identifier>
        <ReturnReference>PART I, COLUMN (B):</ReturnReference>
        <Explanation>PART I COLUMN B IS REPORTING THE NUMBER OF CONTRIBUTIONS.</Explanation>
      </Form990ScheduleMPartII>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 1</ReturnReference>
        <Explanation>THE COLLEGE'S EXECUTIVE COMMITTEE CONSISTS OF THE CHAIRMAN OF THE BOARD, THE VICE CHAIRMAN, AND THREE OTHER TRUSTEES WHO ARE RECOMMENDED BY THE TRUSTEES COMMITTEE AND ELECTED BY THE BOARD. THE CHAIRMAN OF THE BOARD SERVES AS CHAIRMAN OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL EXERCISE ALL THE DUTIES OF THE BOARD OF TRUSTEES IN THE INTERIM BETWEEN MEETINGS OF THE BOARD, SUBJECT TO THE RESTRICTIONS HEREINAFTER SET FORTH AND FURTHER SUBJECT TO SUCH LIMITATIONS UPON ITS AUTHORITY AS THE BOARD OF TRUSTEES MAY, FROM TIME TO TIME, IMPOSE. IN NO EVENT SHALL THE EXECUTIVE COMMITTEE HAVE AUTHORITY TO APPOINT TRUSTEES OR TO AMEND THE BYLAWS. ACTIONS TAKEN BY THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO THE BOARD AT THE NEXT MEETING OF THE BOARD.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 2</ReturnReference>
        <Explanation>FRANK D. UPCHURCH,JR. AND FRANK D. UPCHURCH, III - FAMILY RELATIONSHIP JOHN D. BAILEY JR. AND MARK BAILEY - FAMILY RELATIONSHIP JACK WILSON AND BRIAN L. WILSON - FAMILY RELATIONSHIP</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 11</ReturnReference>
        <Explanation>A COPY OF THE FORM 990 IS PROVIDED TO THE COLLEGE'S BOARD OF TRUSTEES PRIOR TO SUBMISSION WITH THE IRS. AS A MATTER OF PROCEDURE, THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE FORM 990. THE EXECUTIVE COMMITTEE PRESENTS A REPORT OF ITS REVIEW TO THE BOARD OF TRUSTEES.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 12C</ReturnReference>
        <Explanation>TRUSTEES SHALL BE ASKED TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM ON AN ANNUAL BASIS. COPIES WILL BE MADE AVAILABLE TO THE EXECUTIVE COMMITTEE AND THE AUDIT COMMITTEE FOR THEIR REVIEW. A TRUSTEE SHALL DISCLOSE TO THE BOARD ANY POTENTIAL CONFLICT OF INTEREST AT THE EARLIEST PRACTICABLE TIME, AND WILL ABSENT HIMSELF OR HERSELF FROM ANY SITUATION IN WHICH A CONFLICT OF INTEREST COULD INFLUENCE DECISION MAKING. A DECLARATION BY A BOARD MEMBER OF EVERY CASE IN WHICH HE OR SHE HAS A POTENTIAL CONFLICT OF INTEREST IS AN EFFECTIVE MEANS OF ENSURING THE BOARD'S INTEREST IN BEING VIGILANT. NO TRUSTEE SHALL VOTE ON ANY MATTER, UNDER CONSIDERATION AT A BOARD OR COMMITTEE MEETING, IN WHICH SUCH TRUSTEE HAS A CONFLICT OF INTEREST. THE MINUTES OF SUCH MEETING SHALL REFLECT DISCLOSURE OF ANY CONFLICT OF INTEREST AND THE RECUSAL OF THE INTERESTED TRUSTEE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 15</ReturnReference>
        <Explanation>THE EXECUTIVE COMMITTEE IS RESPONSIBLE FOR ASSESSING THE PERFORMANCE OF THE PRESIDENT ANNUALLY. IN ADDITION, THE COMMITTEE DETERMINES APPROPRIATE COMPENSATION FOR THE PRESIDENT AND REVIEWS WITH THE PRESIDENT HIS OR HER COMPENSATION RECOMMENDATIONS FOR OTHER SENIOR OFFICERS OF THE COLLEGE. THE COLLEGE'S BOARD OF TRUSTEES REVIEWS AND APPROVES THE PRESIDENT'S COMPENSATION. THE PRESIDENT REVIEWS AND APPROVES OTHER OFFICERS' AND KEY EMPLOYEES' COMPENSATION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>THE COLLEGE MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc1043400001">
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>FLAGLER COLLEGE ENDOWMENT FUND</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>PO BOX 1027</AddressLine1>
          <City>ST AUGUSTINE</City>
          <State>FL</State>
          <ZIPCode>32085</ZIPCode>
        </AddressUS>
        <EIN>510224117</EIN>
        <PrimaryActivities>PROVIDE SUPPORT TO THE COLLEGE</PrimaryActivities>
        <LegalDomicileState>VA</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>LINE 11C, III-FI</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>FLAGLER COLLEGE INC</BusinessNameLine1>
        </DirectControllingEntityName>
        <ControlledOrg>1</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>JESSIE KEAN WISE FOUNDATION</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>PO BOX 1027</AddressLine1>
          <City>ST AUGUSTINE</City>
          <State>FL</State>
          <ZIPCode>32085</ZIPCode>
        </AddressUS>
        <EIN>566040717</EIN>
        <PrimaryActivities>PROVIDE SUPPORT TO THE COLLEGE</PrimaryActivities>
        <LegalDomicileState>NC</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>LINE 11C, III-FI</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>FLAGLER COLLEGE INC</BusinessNameLine1>
        </DirectControllingEntityName>
        <ControlledOrg>1</ControlledOrg>
      </Form990ScheduleRPartII>
      <ReceiptOfIntAnnRentsRoyalties>0</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>0</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>1</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>0</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>0</LoansOrGuaranteesFromOtherOrg>
      <DividendsRelatedOrganization>0</DividendsRelatedOrganization>
      <SaleOfAssetsToOtherOrg>0</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>0</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>0</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>0</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>0</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>1</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>1</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>1</SharingOfFacilities>
      <SharingOfPaidEmployees>1</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>1</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>1</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>0</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>0</OtherTransferFromOtherOrg>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>JESSIE KENAN WISE FOUNDATION</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>C</TransactionType>
        <AmountInvolved>273186</AmountInvolved>
        <MethodOfAmtDetermination>CASH TRANSFERRED</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>FLAGLER COLLEGE ENDOWMENT FUND</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>C</TransactionType>
        <AmountInvolved>903900</AmountInvolved>
        <MethodOfAmtDetermination>CASH TRANSFERRED</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
    </IRS990ScheduleR>
  </ReturnData>
</Return>