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      <InvestmentIncomeAndUBTI>
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      <ThirtyThreePercntTestsCY509>X</ThirtyThreePercntTestsCY509>
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        <Depreciation>80486</Depreciation>
        <BookValue>51999</BookValue>
      </Equipment>
      <OtherLandBuildings>
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        <Depreciation>96766</Depreciation>
        <BookValue>48369</BookValue>
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      <RecordsMaintained>1</RecordsMaintained>
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        <NumberOfRecipients>26</NumberOfRecipients>
        <AmountOfCashGrant>228460</AmountOfCashGrant>
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      <Form990ScheduleIPartIV>
        <Identifier>PROCEDURE FOR MONITORING GRANTS IN THE U.S.:</Identifier>
        <ReturnReference>PART I, LINE 2:</ReturnReference>
        <Explanation>SCHEDULE I, PART I, LINE 2: AN OPEN SOLICITATION FOR SCHOLARSHIP APPLICATIONS IS HELD AND APPLICATIONS ARE FIRST REVIEWED BY STAFF TO ENSURE PROPER FORMAT AND COMPLETENESS. THE PREPARED SCHOLARSHIP PACKAGE IS THEN SENT TO A COMMITTEE FOR GRADING AND SELECTION OF THE RECIPIENTS. FUNDS ARE DISBURSED DIRECTLY TO THE BURSAR OF THE COLLEGES ATTENDED BY THE SCHOLARSHIP WINNERS.</Explanation>
      </Form990ScheduleIPartIV>
    </IRS990ScheduleI>
    <IRS990ScheduleJ documentId="RetDoc1042400001">
      <CompensationCommittee>X</CompensationCommittee>
      <WrittenEmploymentContract>X</WrittenEmploymentContract>
      <CompensationSurvey>X</CompensationSurvey>
      <BoardOrCommitteeApproval>X</BoardOrCommitteeApproval>
      <SeverancePayment>0</SeverancePayment>
      <SupplementalNonqualRetirePlan>0</SupplementalNonqualRetirePlan>
      <EquityBasedCompArrangement>0</EquityBasedCompArrangement>
      <CompBasedOnRevenueOfFilingOrg>0</CompBasedOnRevenueOfFilingOrg>
      <CompBasedOnRevenueRelatedOrgs>0</CompBasedOnRevenueRelatedOrgs>
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      <CompBasedNetEarningsRelateOrgs>0</CompBasedNetEarningsRelateOrgs>
      <AnyNonFixedPayments>0</AnyNonFixedPayments>
      <InitialContractException>0</InitialContractException>
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        <NamePerson>RICHARD LAWSON</NamePerson>
        <Title>EXECUTIVE DIRECTOR</Title>
        <BaseCompensationFilingOrg>157031</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
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      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 6</ReturnReference>
        <Explanation>PER THE SOCIETY'S BYLAWS IT HAS MEMBERS WHICH ARE BROKEN INTO THE FOLLOWING CLASSES OF MEMBERSHIP: MEMBER, ASSOCIATE MEMBER, STUDENT MEMBER, PATRON, EMERITUS MEMBER, LIFE MEMBER, HONORARY MEMBER, CORPORATE MEMBER, BUSINESS MEMBER, AND INSTITUTIONAL MEMBER. EACH CLASS OF MEMBER HAS THE RIGHT TO VOTE IN THE ELECTION OF THE BOARD OF DIRECTORS AND OFFICERS OF THE SOCIETY.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 7A</ReturnReference>
        <Explanation>ALL SOCIETY MEMBERS IN GOOD STANDING ARE ENTITLED TO ONE VOTE IN THE ELECTION OF THE SOCIETY'S OFFICERS AND BOARD OF DIRECTORS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 11</ReturnReference>
        <Explanation>THE SOCIETY ENGAGES A CPA TAX PROFESSIONAL TO PREPARE THE FORM 990. THE RETURN IS REVIEWED BY THE EXECUTIVE DIRECTOR, FINANCE DIRECTOR AND TREASURER OF THE SOCIETY AND THEN DISTRIBUTED TO THE BOARD OF DIRECTORS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 12C</ReturnReference>
        <Explanation>THE ORGANIZATION REQUIRES COMPLETION OF ANNUAL DISCLOSURE FORM OF ANY POTENTIAL CONFLICTS OF INTEREST BY ALL OFFICERS, DIRECTORS, AND COMMITTEE CHAIRS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 15</ReturnReference>
        <Explanation>ANNUAL REVIEW OF EXECUTIVE DIRECTOR COMPLETED BY THE BOARD PRESIDENT AND RECOMMENDATIONS ARE APPROVED BY THE BOARD OF DIRECTORS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 18</ReturnReference>
        <Explanation>THE ORGANIZATION MAKES IT FORM 1023 AND FORM 990 AVAILABLE TO THE PUBLIC UPON REQUEST. THE FORM 990 IS ALSO AVAILABLE TO THE PUBLIC ON THE GUIDESTAR WEBSITE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC ON ITS WEBSITE. THE FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
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</Return>