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        <ProgramServices>8279972</ProgramServices>
        <ManagementAndGeneral>585095</ManagementAndGeneral>
        <Fundraising>78939</Fundraising>
      </OtherSalariesAndWages>
      <PensionPlanContributions>
        <Total>174487</Total>
        <ProgramServices>130972</ProgramServices>
        <ManagementAndGeneral>36456</ManagementAndGeneral>
        <Fundraising>7059</Fundraising>
      </PensionPlanContributions>
      <OtherEmployeeBenefits>
        <Total>1119227</Total>
        <ProgramServices>998919</ProgramServices>
        <ManagementAndGeneral>111251</ManagementAndGeneral>
        <Fundraising>9057</Fundraising>
      </OtherEmployeeBenefits>
      <PayrollTaxes>
        <Total>639561</Total>
        <ProgramServices>550790</ProgramServices>
        <ManagementAndGeneral>74371</ManagementAndGeneral>
        <Fundraising>14400</Fundraising>
      </PayrollTaxes>
      <FeesForServicesLegal>
        <Total>5810</Total>
        <ProgramServices>2770</ProgramServices>
        <ManagementAndGeneral>3040</ManagementAndGeneral>
      </FeesForServicesLegal>
      <FeesForServicesAccounting>
        <Total>47295</Total>
        <ProgramServices>10000</ProgramServices>
        <ManagementAndGeneral>37295</ManagementAndGeneral>
      </FeesForServicesAccounting>
      <FeesForServicesInvstMgmntFees>
        <Total>57295</Total>
        <ManagementAndGeneral>57295</ManagementAndGeneral>
      </FeesForServicesInvstMgmntFees>
      <FeesForServicesOther>
        <Total>180598</Total>
        <ProgramServices>90509</ProgramServices>
        <ManagementAndGeneral>69519</ManagementAndGeneral>
        <Fundraising>20570</Fundraising>
      </FeesForServicesOther>
      <Advertising>
        <Total>620376</Total>
        <ProgramServices>619801</ProgramServices>
        <Fundraising>575</Fundraising>
      </Advertising>
      <OfficeExpenses>
        <Total>871336</Total>
        <ProgramServices>829261</ProgramServices>
        <ManagementAndGeneral>24744</ManagementAndGeneral>
        <Fundraising>17331</Fundraising>
      </OfficeExpenses>
      <InformationTechnology>
        <Total>488884</Total>
        <ProgramServices>406970</ProgramServices>
        <ManagementAndGeneral>61629</ManagementAndGeneral>
        <Fundraising>20285</Fundraising>
      </InformationTechnology>
      <Occupancy>
        <Total>1069096</Total>
        <ProgramServices>987799</ProgramServices>
        <ManagementAndGeneral>59346</ManagementAndGeneral>
        <Fundraising>21951</Fundraising>
      </Occupancy>
      <Travel>
        <Total>327391</Total>
        <ProgramServices>293230</ProgramServices>
        <ManagementAndGeneral>17768</ManagementAndGeneral>
        <Fundraising>16393</Fundraising>
      </Travel>
      <ConferencesMeetings>
        <Total>61582</Total>
        <ProgramServices>43507</ProgramServices>
        <ManagementAndGeneral>18075</ManagementAndGeneral>
      </ConferencesMeetings>
      <Interest>
        <Total>553784</Total>
        <ProgramServices>483370</ProgramServices>
        <ManagementAndGeneral>56332</ManagementAndGeneral>
        <Fundraising>14082</Fundraising>
      </Interest>
      <DepreciationDepletion>
        <Total>717973</Total>
        <ProgramServices>632421</ProgramServices>
        <ManagementAndGeneral>42022</ManagementAndGeneral>
        <Fundraising>43530</Fundraising>
      </DepreciationDepletion>
      <Insurance>
        <Total>164469</Total>
        <ProgramServices>145449</ProgramServices>
        <ManagementAndGeneral>15596</ManagementAndGeneral>
        <Fundraising>3424</Fundraising>
      </Insurance>
      <OtherExpenses>
        <Description>Food Service</Description>
        <Total>1243909</Total>
        <ProgramServices>1243909</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>Contract Services</Description>
        <Total>736462</Total>
        <ProgramServices>604324</ProgramServices>
        <ManagementAndGeneral>64539</ManagementAndGeneral>
        <Fundraising>67599</Fundraising>
      </OtherExpenses>
      <OtherExpenses>
        <Description>Printing</Description>
        <Total>139951</Total>
        <ProgramServices>93377</ProgramServices>
        <ManagementAndGeneral>8199</ManagementAndGeneral>
        <Fundraising>38375</Fundraising>
      </OtherExpenses>
      <OtherExpenses>
        <Description>Equipment</Description>
        <Total>129852</Total>
        <ProgramServices>92799</ProgramServices>
        <ManagementAndGeneral>36909</ManagementAndGeneral>
        <Fundraising>144</Fundraising>
      </OtherExpenses>
      <AllOtherExpenses>
        <Total>290695</Total>
        <ProgramServices>218194</ProgramServices>
        <ManagementAndGeneral>72501</ManagementAndGeneral>
      </AllOtherExpenses>
      <TotalFunctionalExpenses>
        <Total>19420340</Total>
        <ProgramServices>17098275</ProgramServices>
        <ManagementAndGeneral>1839051</ManagementAndGeneral>
        <Fundraising>483014</Fundraising>
      </TotalFunctionalExpenses>
      <CashNonInterestBearing>
        <BOY>9515</BOY>
        <EOY>8124</EOY>
      </CashNonInterestBearing>
      <SavingsAndTempCashInvestments>
        <BOY>1462452</BOY>
        <EOY>1683408</EOY>
      </SavingsAndTempCashInvestments>
      <AccountsReceivable>
        <BOY>1082238</BOY>
        <EOY>270773</EOY>
      </AccountsReceivable>
      <OtherNotesLoansReceivableNet>
        <BOY>1251694</BOY>
        <EOY>1019878</EOY>
      </OtherNotesLoansReceivableNet>
      <InventoriesForSaleOrUse>
        <BOY>114843</BOY>
        <EOY>84050</EOY>
      </InventoriesForSaleOrUse>
      <LandBuildingsEquipmentBasis>38174188</LandBuildingsEquipmentBasis>
      <LandBldgEquipmentAccumDeprec>14135489</LandBldgEquipmentAccumDeprec>
      <LandBuildingsEquipmentBasisNet>
        <BOY>26449885</BOY>
        <EOY>24038699</EOY>
      </LandBuildingsEquipmentBasisNet>
      <InvestmentsPubTradedSecurities>
        <BOY>5401641</BOY>
        <EOY>6269800</EOY>
      </InvestmentsPubTradedSecurities>
      <IntangibleAssets>
        <BOY>69204</BOY>
        <EOY>54456</EOY>
      </IntangibleAssets>
      <OtherAssetsTotal>
        <BOY>20815</BOY>
        <EOY>75000</EOY>
      </OtherAssetsTotal>
      <TotalAssets>
        <BOY>35862287</BOY>
        <EOY>33504188</EOY>
      </TotalAssets>
      <AccountsPayableAccruedExpenses>
        <BOY>483938</BOY>
        <EOY>586798</EOY>
      </AccountsPayableAccruedExpenses>
      <DeferredRevenue>
        <BOY>218900</BOY>
        <EOY>203204</EOY>
      </DeferredRevenue>
      <MortNotesPyblSecuredInvestProp>
        <BOY>10108439</BOY>
        <EOY>9465374</EOY>
      </MortNotesPyblSecuredInvestProp>
      <OtherLiabilities>
        <BOY>2923665</BOY>
        <EOY>2605591</EOY>
      </OtherLiabilities>
      <TotalLiabilities>
        <BOY>13734942</BOY>
        <EOY>12860967</EOY>
      </TotalLiabilities>
      <FollowSFAS117>X</FollowSFAS117>
      <UnrestrictedNetAssets>
        <BOY>15878971</BOY>
        <EOY>14106557</EOY>
      </UnrestrictedNetAssets>
      <TemporarilyRestrictedNetAssets>
        <BOY>485029</BOY>
        <EOY>746893</EOY>
      </TemporarilyRestrictedNetAssets>
      <PermanentlyRestrictedNetAssets>
        <BOY>5763345</BOY>
        <EOY>5789771</EOY>
      </PermanentlyRestrictedNetAssets>
      <TotalNetAssetsFundBalances>
        <BOY>22127345</BOY>
        <EOY>20643221</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>35862287</BOY>
        <EOY>33504188</EOY>
      </TotalLiabNetAssetsFundBalances>
      <ReconcilationRevenueExpenses>-1770845</ReconcilationRevenueExpenses>
      <ReconciliationUnrealizedInvest>316542</ReconciliationUnrealizedInvest>
      <ReconcilationInvestExpenses>-29821</ReconcilationInvestExpenses>
      <ReconcilationOtherChanges>0</ReconcilationOtherChanges>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>true</FSAudited>
      <FSAuditedBasis>
        <FinancialStatementSeparate>X</FinancialStatementSeparate>
      </FSAuditedBasis>
      <AuditCommittee>true</AuditCommittee>
      <FederalGrantAuditRequired>true</FederalGrantAuditRequired>
      <FederalGrantAuditPerformed>true</FederalGrantAuditPerformed>
    </IRS990>
    <IRS990ScheduleA documentId="990A">
      <School170b1Aii>X</School170b1Aii>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="990B">
      <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>
    <IRS990ScheduleD documentId="990D">
      <CurrentYear>
        <BeginningOfYearBalance>5565008</BeginningOfYearBalance>
        <Contributions>26426</Contributions>
        <InvestmentEarningsOrLosses>361163</InvestmentEarningsOrLosses>
        <GrantsOrScholarships>143457</GrantsOrScholarships>
        <EndOfYearBalance>5809140</EndOfYearBalance>
      </CurrentYear>
      <CurrentYearMinus1Year>
        <BeginningOfYearBalance>5707917</BeginningOfYearBalance>
        <Contributions>83396</Contributions>
        <InvestmentEarningsOrLosses>-116388</InvestmentEarningsOrLosses>
        <GrantsOrScholarships>109917</GrantsOrScholarships>
        <EndOfYearBalance>5565008</EndOfYearBalance>
      </CurrentYearMinus1Year>
      <CurrentYearMinus2Years>
        <BeginningOfYearBalance>4996599</BeginningOfYearBalance>
        <Contributions>39255</Contributions>
        <InvestmentEarningsOrLosses>786868</InvestmentEarningsOrLosses>
        <GrantsOrScholarships>92117</GrantsOrScholarships>
        <EndOfYearBalance>5730605</EndOfYearBalance>
      </CurrentYearMinus2Years>
      <CurrentYearMinus3Years>
        <BeginningOfYearBalance>4607703</BeginningOfYearBalance>
        <Contributions>58290</Contributions>
        <InvestmentEarningsOrLosses>422723</InvestmentEarningsOrLosses>
        <GrantsOrScholarships>92117</GrantsOrScholarships>
        <EndOfYearBalance>4996599</EndOfYearBalance>
      </CurrentYearMinus3Years>
      <CurrentYearMinus4Years>
        <BeginningOfYearBalance>5547969</BeginningOfYearBalance>
        <Contributions>34435</Contributions>
        <InvestmentEarningsOrLosses>-841321</InvestmentEarningsOrLosses>
        <GrantsOrScholarships>133380</GrantsOrScholarships>
        <EndOfYearBalance>4607703</EndOfYearBalance>
      </CurrentYearMinus4Years>
      <PermanentEndowmentEOYBalance>1.00000</PermanentEndowmentEOYBalance>
      <EndowmentsHeldByUnrelatedOrgs>false</EndowmentsHeldByUnrelatedOrgs>
      <EndowmentsHeldByRelatedOrgs>false</EndowmentsHeldByRelatedOrgs>
      <Land>
        <InvestmentCostOrOtherBasis>3885062</InvestmentCostOrOtherBasis>
        <BookValue>3885062</BookValue>
      </Land>
      <Buildings>
        <InvestmentCostOrOtherBasis>30071297</InvestmentCostOrOtherBasis>
        <Depreciation>10274431</Depreciation>
        <BookValue>19796866</BookValue>
      </Buildings>
      <Equipment>
        <InvestmentCostOrOtherBasis>4217829</InvestmentCostOrOtherBasis>
        <Depreciation>3861058</Depreciation>
        <BookValue>356771</BookValue>
      </Equipment>
      <TotalOfBookValueLandBuildings>24038699</TotalOfBookValueLandBuildings>
      <OtherLiabilities>
        <Description>Deposits</Description>
        <Amount>79300</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>Funds held in custody</Description>
        <Amount>224286</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>Pension liability payable</Description>
        <Amount>15677</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>Annuity liability payable</Description>
        <Amount>348909</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>Interest rate swap agreement</Description>
        <Amount>722381</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>Advances from federal governme</Description>
        <Amount>1215038</Amount>
      </OtherLiabilities>
      <TotalOfAmounts>2605591</TotalOfAmounts>
      <TotRevenueEtcAuditedFinclStmt>17649495</TotRevenueEtcAuditedFinclStmt>
      <RevenueSubtotal>17649495</RevenueSubtotal>
      <TotalRevenuePerForm990>17649495</TotalRevenuePerForm990>
      <TotExpensesEtcAuditedFinclStmt>19420340</TotExpensesEtcAuditedFinclStmt>
      <ExpensesSubtotal>19420340</ExpensesSubtotal>
      <TotalExpensesPerForm990>19420340</TotalExpensesPerForm990>
    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="990E">
      <NondiscriminatoryPolicyStmt>true</NondiscriminatoryPolicyStmt>
      <PolicyStatementInBrochuresEtc>true</PolicyStatementInBrochuresEtc>
      <PolicyPublViaBroadcastMedia>true</PolicyPublViaBroadcastMedia>
      <MaintRacialCompositionRecords>true</MaintRacialCompositionRecords>
      <MaintScholarshipsRecords>true</MaintScholarshipsRecords>
      <MaintCopiesOfBrochuresEtc>true</MaintCopiesOfBrochuresEtc>
      <MaintCopiesOfAllSolicitations>true</MaintCopiesOfAllSolicitations>
      <DiscriminateRaceStudentsRights>false</DiscriminateRaceStudentsRights>
      <DiscriminateRaceAdmissPolicies>false</DiscriminateRaceAdmissPolicies>
      <DiscriminateRaceEmplmnFaculty>false</DiscriminateRaceEmplmnFaculty>
      <DiscriminateRaceScholarships>false</DiscriminateRaceScholarships>
      <DiscriminateRaceEducPolicies>false</DiscriminateRaceEducPolicies>
      <DiscriminateRaceUseOfFclts>false</DiscriminateRaceUseOfFclts>
      <DiscriminateRaceAthleticProg>false</DiscriminateRaceAthleticProg>
      <DiscriminateRaceOtherActy>false</DiscriminateRaceOtherActy>
      <GovernmentFinancialAidReceived>false</GovernmentFinancialAidReceived>
      <GovernmentFinancialAidRevoked>false</GovernmentFinancialAidRevoked>
      <ComplianceWithRevProc7550>true</ComplianceWithRevProc7550>
      <Form990ScheduleEPartII>
        <Identifier>E5</Identifier>
        <ReturnReference>Description of nondiscriminatory policy Question 3</ReturnReference>
        <Explanation>It is placed in the Chattanooga paper annually.</Explanation>
      </Form990ScheduleEPartII>
    </IRS990ScheduleE>
    <IRS990ScheduleJ documentId="990J">
      <HousingAllowanceOrResidence>X</HousingAllowanceOrResidence>
      <WrittenPolicyReTAndEExpenses>true</WrittenPolicyReTAndEExpenses>
      <SubstantiationRequired>false</SubstantiationRequired>
      <CompensationCommittee>X</CompensationCommittee>
      <CompensationSurvey>X</CompensationSurvey>
      <BoardOrCommitteeApproval>X</BoardOrCommitteeApproval>
      <SeverancePayment>false</SeverancePayment>
      <SupplementalNonqualRetirePlan>false</SupplementalNonqualRetirePlan>
      <EquityBasedCompArrangement>false</EquityBasedCompArrangement>
      <CompBasedOnRevenueOfFilingOrg>false</CompBasedOnRevenueOfFilingOrg>
      <CompBasedOnRevenueRelatedOrgs>false</CompBasedOnRevenueRelatedOrgs>
      <CompBasedNetEarningsFilingOrg>false</CompBasedNetEarningsFilingOrg>
      <CompBasedNetEarningsRelateOrgs>false</CompBasedNetEarningsRelateOrgs>
      <AnyNonFixedPayments>false</AnyNonFixedPayments>
      <InitialContractException>false</InitialContractException>
      <Form990ScheduleJPartII>
        <NamePerson>Stephen Livesay</NamePerson>
        <Title>President</Title>
        <BaseCompensationFilingOrg>141950</BaseCompensationFilingOrg>
        <BonusFilingOrg>81968</BonusFilingOrg>
        <NontaxableBenefitsFilingOrg>34994</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>258912</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
    </IRS990ScheduleJ>
    <IRS990ScheduleL documentId="990L">
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>Stephen Livesay</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>President</Relationship>
        <AmountOfTransaction>20000</AmountOfTransaction>
        <DescriptionOfTransaction>Payoff of loan by college</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>Tim Hostetler</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>VP of Operations</Relationship>
        <AmountOfTransaction>13000</AmountOfTransaction>
        <DescriptionOfTransaction>Payoff of loan by college</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>John Haynes</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>Trustee</Relationship>
        <AmountOfTransaction>12000</AmountOfTransaction>
        <DescriptionOfTransaction>Payoff of loan by college</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
    </IRS990ScheduleL>
    <IRS990ScheduleO documentId="990O">
      <GeneralExplanation>
        <Identifier>O01</Identifier>
        <ReturnReference>Form 990 governing body review Part VI line 11</ReturnReference>
        <Explanation>Return is sent by electronic copy to all trustees asking them for any changes that they see that might need to be made. I ask for their approval.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>O02</Identifier>
        <ReturnReference>Conflict of interest policy compliance Part VI line 12c</ReturnReference>
        <Explanation>Trustees,officers, directors and key employees were required annually to sign a form regarding that no conflict of interestthat occurred.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>O03</Identifier>
        <ReturnReference>CEO executive director top management comp Part VI line 15a</ReturnReference>
        <Explanation>Compensation committee of the trustee board makes the decision from information from the Coalition of Christian Colleges &amp; Universities.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>O04</Identifier>
        <ReturnReference>Governing documents etc available to public Part VI line 19</ReturnReference>
        <Explanation>990 form is listed on GuideStar9s website and the audited financials and conflict of interest policy are available to anyone who requests the financials or policy.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>