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      <TotalFunctionalExpenses>
        <Total>4854567</Total>
        <ProgramServices>3921926</ProgramServices>
        <ManagementAndGeneral>652480</ManagementAndGeneral>
        <Fundraising>280161</Fundraising>
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      <CashNonInterestBearing>
        <BOY>114005</BOY>
        <EOY>245392</EOY>
      </CashNonInterestBearing>
      <PledgesAndGrantsReceivable>
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        <EOY>10000</EOY>
      </PledgesAndGrantsReceivable>
      <AccountsReceivable>
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        <EOY>587605</EOY>
      </AccountsReceivable>
      <InventoriesForSaleOrUse>
        <BOY>1449</BOY>
        <EOY>506</EOY>
      </InventoriesForSaleOrUse>
      <PrepaidExpensesDeferredCharges>
        <EOY>562</EOY>
      </PrepaidExpensesDeferredCharges>
      <LandBuildingsEquipmentBasis>20446038</LandBuildingsEquipmentBasis>
      <LandBldgEquipmentAccumDeprec>13925969</LandBldgEquipmentAccumDeprec>
      <LandBuildingsEquipmentBasisNet>
        <BOY>6997889</BOY>
        <EOY>6520069</EOY>
      </LandBuildingsEquipmentBasisNet>
      <InvestmentsPubTradedSecurities>
        <BOY>8852062</BOY>
        <EOY>7947964</EOY>
      </InvestmentsPubTradedSecurities>
      <TotalAssets>
        <BOY>16117974</BOY>
        <EOY>15312098</EOY>
      </TotalAssets>
      <AccountsPayableAccruedExpenses>
        <BOY>663690</BOY>
        <EOY>619358</EOY>
      </AccountsPayableAccruedExpenses>
      <DeferredRevenue>
        <BOY>26070</BOY>
        <EOY>16533</EOY>
      </DeferredRevenue>
      <MortNotesPyblSecuredInvestProp>
        <BOY>360344</BOY>
        <EOY>302987</EOY>
      </MortNotesPyblSecuredInvestProp>
      <UnsecuredNotesLoansPayable>
        <EOY>155702</EOY>
      </UnsecuredNotesLoansPayable>
      <TotalLiabilities>
        <BOY>1050104</BOY>
        <EOY>1094580</EOY>
      </TotalLiabilities>
      <FollowSFAS117>X</FollowSFAS117>
      <UnrestrictedNetAssets>
        <BOY>6985598</BOY>
        <EOY>6226538</EOY>
      </UnrestrictedNetAssets>
      <TemporarilyRestrictedNetAssets>
        <BOY>173209</BOY>
        <EOY>168208</EOY>
      </TemporarilyRestrictedNetAssets>
      <PermanentlyRestrictedNetAssets>
        <BOY>7909063</BOY>
        <EOY>7822772</EOY>
      </PermanentlyRestrictedNetAssets>
      <TotalNetAssetsFundBalances>
        <BOY>15067870</BOY>
        <EOY>14217518</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>16117974</BOY>
        <EOY>15312098</EOY>
      </TotalLiabNetAssetsFundBalances>
      <InfoInScheduleOPartXI>X</InfoInScheduleOPartXI>
      <ReconcilationRevenueExpenses>-1005120</ReconcilationRevenueExpenses>
      <ReconcilationOtherChanges>154768</ReconcilationOtherChanges>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>0</AccountantCompileOrReview>
      <FSAudited>0</FSAudited>
      <FederalGrantAuditRequired>0</FederalGrantAuditRequired>
    </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>
    <IRS990ScheduleD documentId="RetDoc1040000001">
      <CurrentYear>
        <BeginningOfYearBalance>7909063</BeginningOfYearBalance>
        <Contributions>18900</Contributions>
        <InvestmentEarningsOrLosses>61372</InvestmentEarningsOrLosses>
        <OtherExpenditures>139787</OtherExpenditures>
        <AdministrativeExpenses>26776</AdministrativeExpenses>
        <EndOfYearBalance>7822772</EndOfYearBalance>
      </CurrentYear>
      <CurrentYearMinus1Year>
        <BeginningOfYearBalance>7474049</BeginningOfYearBalance>
        <Contributions>3600</Contributions>
        <InvestmentEarningsOrLosses>457289</InvestmentEarningsOrLosses>
        <AdministrativeExpenses>25875</AdministrativeExpenses>
        <EndOfYearBalance>7909063</EndOfYearBalance>
      </CurrentYearMinus1Year>
      <CurrentYearMinus2Years>
        <BeginningOfYearBalance>7353300</BeginningOfYearBalance>
        <Contributions>5827</Contributions>
        <InvestmentEarningsOrLosses>139072</InvestmentEarningsOrLosses>
        <AdministrativeExpenses>24150</AdministrativeExpenses>
        <EndOfYearBalance>7474049</EndOfYearBalance>
      </CurrentYearMinus2Years>
      <CurrentYearMinus3Years>
        <BeginningOfYearBalance>8377054</BeginningOfYearBalance>
        <Contributions>19583</Contributions>
        <InvestmentEarningsOrLosses>-1020268</InvestmentEarningsOrLosses>
        <AdministrativeExpenses>23069</AdministrativeExpenses>
        <EndOfYearBalance>7353300</EndOfYearBalance>
      </CurrentYearMinus3Years>
      <PermanentEndowmentEOYBalance>1.00000</PermanentEndowmentEOYBalance>
      <EndowmentsHeldByUnrelatedOrgs>0</EndowmentsHeldByUnrelatedOrgs>
      <EndowmentsHeldByRelatedOrgs>0</EndowmentsHeldByRelatedOrgs>
      <Land>
        <OtherCostOrOtherBasis>47411</OtherCostOrOtherBasis>
        <BookValue>47411</BookValue>
      </Land>
      <Buildings>
        <OtherCostOrOtherBasis>13495274</OtherCostOrOtherBasis>
        <Depreciation>8215475</Depreciation>
        <BookValue>5279799</BookValue>
      </Buildings>
      <LeaseholdImprovements>
        <OtherCostOrOtherBasis>827298</OtherCostOrOtherBasis>
        <Depreciation>441841</Depreciation>
        <BookValue>385457</BookValue>
      </LeaseholdImprovements>
      <Equipment>
        <OtherCostOrOtherBasis>4763408</OtherCostOrOtherBasis>
        <Depreciation>4590081</Depreciation>
        <BookValue>173327</BookValue>
      </Equipment>
      <OtherLandBuildings>
        <OtherCostOrOtherBasis>1312647</OtherCostOrOtherBasis>
        <Depreciation>678572</Depreciation>
        <BookValue>634075</BookValue>
      </OtherLandBuildings>
      <TotalOfBookValueLandBuildings>6520069</TotalOfBookValueLandBuildings>
      <Form990ScheduleDPartXIV>
        <Identifier>DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS:</Identifier>
        <ReturnReference>PART V, LINE 4:</ReturnReference>
        <Explanation>THE INCOME FROM ENDOWMENT FUNDS ARE TO BE USED FOR STUDENT AID PROGRAMS, ACADEMIC PROGRAMS, AGRICULTURAL PROGAMS AND FOR BUILDING MAINTENANCE.</Explanation>
      </Form990ScheduleDPartXIV>
    </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>NOTICE OF NONDISCRIMINATORY POLICY SUBMITTED TO NEWSPAPERS AS FOLLOWS: THE PINEY WOODS COUNTRY LIFE SCHOOL ADMITS STUDENTS OF ANY RACE, COLOR, NATIONAL AND ETHNIC ORIGIN TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS AT THE SCHOOL. IT DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONAL AND ETHNIC ORIGIN IN ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSIONS POLICIES, SCHOLARSHIP AND LOAN PROGRAMS, AND ATHLETIC AND OTHER SCHOOL ADMINISTERED PROGRAMS.</Explanation>
      </Form990ScheduleEPartII>
      <Form990ScheduleEPartII>
        <Identifier>EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE</Identifier>
        <ReturnReference>SCHEDULE E, PART I, LINE 6</ReturnReference>
        <Explanation>NATIONAL SCHOOL LUNCH ACT - TO PROVIDE FREE OR REDUCED MEALS TO UNDERPRIVILEGED STUDENTS.</Explanation>
      </Form990ScheduleEPartII>
    </IRS990ScheduleE>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 11</ReturnReference>
        <Explanation>THE FORM 990 IS NORMALLY REVIEWED BY THE DIRECTOR OF OPERATIONS AND THE PRESIDENT. FOR THIS YEAR ONLY, SINCE THESE TWO POSITIONS ARE CURRENTLY VACANT, THE INTERIM PRESIDENT AND THE FINANCE COMMITTEE CHAIRMAN WILL REVIEW THE FORM 990.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 12C</ReturnReference>
        <Explanation>THE EXECUTIVE COMMITTEE REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY BY REVIEWING ANNUAL STATEMENTS AND TAKING SUCH OTHER ACTIONS AS ARE NECESSARY FOR EFFECTIVE OVERSIGHT.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>CHANGES IN NET ASSETS OR FUND BALANCES:</Identifier>
        <ReturnReference>FORM 990, PART XI, LINE 5:</ReturnReference>
        <Explanation>NET UNREALIZED GAINS ON INVESTMENTS: 154,768.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>