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    <Timestamp>2012-04-16T12:00:11-05:00</Timestamp>
    <TaxPeriodEndDate>2011-05-31</TaxPeriodEndDate>
    <ReturnType>990</ReturnType>
    <TaxPeriodBeginDate>2010-06-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>350867954</EIN>
      <Name>
        <BusinessNameLine1>ANDERSON UNIVERSITY INC</BusinessNameLine1>
      </Name>
      <NameControl>ANDE</NameControl>
      <Phone>7656414001</Phone>
      <USAddress>
        <AddressLine1>1100 EAST 5TH STREET</AddressLine1>
        <AddressLine2>C/O BUSINESS OFFICE</AddressLine2>
        <City>ANDERSON</City>
        <State>IN</State>
        <ZIPCode>46012</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>VANESSA TIJERINA</Name>
      <Title>ASST. TREASURER &amp; CONTROLLER</Title>
      <DateSigned>2012-04-16</DateSigned>
    </Officer>
    <TaxYear>2010</TaxYear>
    <BuildTS>2016-02-24 21:20:13Z</BuildTS>
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        <BusinessNameLine1>DANA STUART</BusinessNameLine1>
      </NameOfPrincipalOfficerBusiness>
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        <AddressLine1>1100 EAST 5TH STREET</AddressLine1>
        <City>ANDERSON</City>
        <State>IN</State>
        <ZIPCode>46012</ZIPCode>
      </AddressPrincipalOfficerUS>
      <GrossReceipts>68317724</GrossReceipts>
      <GroupReturnForAffiliates>false</GroupReturnForAffiliates>
      <Organization501c3>X</Organization501c3>
      <WebSite>WWW.ANDERSON.EDU</WebSite>
      <TypeOfOrganizationCorporation>X</TypeOfOrganizationCorporation>
      <YearFormation>1917</YearFormation>
      <StateLegalDomicile>IN</StateLegalDomicile>
      <ActivityOrMissionDescription>ANDERSON UNIVERSITY IS A LIBERAL ARTS UNIVERSITY AND SEMINARY SERVING MORE THAN 2,500 STUDENTS DURING THE 2010-11 SCHOOL YEAR. THE MISSION OF THE UNIVERSITY IS TO EDUCATE PERSONS FOR A LIFE OF FAITH AND SERVICE IN THE CHURCH AND SOCIETY.</ActivityOrMissionDescription>
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      <NbrIndependentVotingMembers>28</NbrIndependentVotingMembers>
      <TotalNbrEmployees>1953</TotalNbrEmployees>
      <TotalNbrVolunteers>250</TotalNbrVolunteers>
      <TotalGrossUBI>0</TotalGrossUBI>
      <NetUnrelatedBusinessTxblIncome>0</NetUnrelatedBusinessTxblIncome>
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      <TotalRevenuePriorYear>68009762</TotalRevenuePriorYear>
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      <GrantsAndSimilarAmntsPriorYear>18228210</GrantsAndSimilarAmntsPriorYear>
      <GrantsAndSimilarAmntsCY>19108828</GrantsAndSimilarAmntsCY>
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      <TotalProfFundrsngExpPriorYear>19485</TotalProfFundrsngExpPriorYear>
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      <MissionDescription>THE MISSION OF ANDERSON UNIVERSITY IS TO EDUCATE FOR A LIFE OF FAITH AND SERVICE IN THE CHURCH AND SOCIETY. ESTABLISHED AND SUSTAINED WITHIN THE FREE AND OPEN TRADITIONS OF THE CHURCH OF GOD, THIS UNIVERSITY IS COMMITTED TO BEING A TEACHING-LEARNING COMMUNITY OF THE HIGHEST ORDER, ENGAGED IN THE PURSUIT OF TRUTH FROM A CHRISTIAN FAITH PERSPECTIVE. THROUGH ACADEMIC AND CHRISTIAN DISCOVERY, WE INTEND TO GRADUATE PEOPLE WITH A GLOBAL PERSPECTIVE WHO ARE COMPETENT, CARING, CREATIVE, GENEROUS INDIVIDUALS OF CHARACTER AND POTENTIAL. WE WILL BUILD THOSE QUALITY PROGRAMS THAT WILL ENABLE EACH MEMBER OF THE UNIVERSITY TO BECOME STRONGER IN BODY, MIND, AND SPIRIT, TO EXPERIENCE WHAT IT MEANS TO LOVE GOD AND NEIGHBOR, AND TO ADOPT CHRIST-LIKE SERVANT WAYS IN ALL OF LIFE. THE MISSION STATEMENT AND SUPPORTING STATEMENTS WERE ADOPTED BY THE BOARD OF TRUSTEES IN 2007.</MissionDescription>
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      <Description>HIGHER EDUCATION: GENERAL EDUCATIONAL ACTIVITIES SERVING MORE THAN 2,500 STUDENTS DURING THE 2010-11 SCHOOL YEAR. AU STUDENTS BENEFIT FROM THE EXPERTISE OF OUR 144 FACULTY MEMBERS AND A LOW STUDENT-TO-FACULTY RATIO OF 14 TO 1. AMONG TENURE-TRACK FACULTY, 77 PERCENT HOLD DOCTORATES OR OTHER TERMINAL DEGREES. ANDERSON UNIVERSITY CONTINUES TO BE RECOGNIZED AS ONE OF AMERICA'S TOP COLLEGES BY US NEWS &amp; WORLD REPORT, THE PRINCETON REVIEW, AND FORBES. WHILE THE UNIVERSITY HAS LONG HAD A STRONG UNDERGRADUATE LIBERAL ARTS CURRICULUM, IT HAS EXPERIENCED SIGNIFICANT GROWTH IN THE PAST DECADE THROUGH THE ESTABLISHMENT OF NEW GRADUATE PROGRAMS AND GROWTH OF EXISTING PROGRAMS. IN 2007, THE UNIVERSITY OPENED THE ANDERSON UNIVERSITY FLAGSHIP CENTER, LOCATED AT I-69, EXIT 22. THIS FACILITY HOUSES OFFICES AND CLASSROOMS FOR MANY OF THE UNIVERSITY'S FASTEST-GROWING PROGRAMS AND SERVES AS A CONVENIENT LOCATION FOR MANY STUDENTS IN CENTRAL INDIANA. THE UNIVERSITY'S MBA PROGRAM IS ALSO NOW OFFERED AT SEVERAL LOCATIONS IN INDIANAPOLIS.</Description>
      <Activity2>
        <Expense>3735840</Expense>
        <Revenue>11240015</Revenue>
        <Description>HIGHER EDUCATION: AUXILIARY ENTERPRISE PRIMARILY INVOLVING RESIDENCE HALLS, FOOD SERVICES, AND BOOKSTORE ACTIVITIES SUPPORTING THE EDUCATIONAL PROGRAM. WE BELIEVE THAT ON CAMPUS LIVING IS AN INTEGRAL PART OF THE COLLEGE EXPERIENCE. IN OUR RESIDENCE HALLS WE ARE COMMITTED TO OFFERING NOT ONLY A SAFE AND COMFORTABLE PLACE TO LIVE, BUT ALSO AN ENVIRONMENT THAT PROMISES TO BOTH CHALLENGE AND SUPPORT OUR STUDENTS AS THEY GROW PHYSICALLY, ACADEMICALLY, SOCIALLY AND SPIRITUALLY. WE ALSO LIKE TO HAVE A LOT OF FUN. ANDERSON UNIVERSITY DINING SERVICES PROVIDES FRIENDLY SERVICE AND GREAT VARIETY IN FIVE DIFFERENT LOCATIONS ACROSS CAMPUS: THE MARKETPLACE, RAVEN'S HAVEN, CAFÉ OLÉ, RAVEN XPRESS, AND CONNECTIONS. THE ANDERSON UNIVERSITY BOOKSTORE IS FAMILY OPERATED BY TREE OF LIFE, INC. TREE OF LIFE IS OWNED BY SIX COLLEGE GRADUATES WHO KNOW WHAT IT COSTS TO GO THROUGH COLLEGE AND DO EVERYTHING THEY CAN TO KEEP THE BOOKSTORE PRICES AFFORDABLE AND COMPETITIVE FOR AU STUDENTS.</Description>
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        <Revenue>2759361</Revenue>
        <Description>HIGHER EDUCATION: MISCELLANEOUS SOURCES OF INCOME SUPPORTING THE UNIVERSITY'S PROGRAM SERVICES INCLUDING INVESTMENT INCOME, LOSS ON PROPERTY RENTALS, RADIO STATION AND VIDEO PRODUCTION INCOME, FINANCE CHARGES ON RECEIVABLE ACCOUNTS, AND OTHER FORMS OF MISCELLANEOUS INCOME.</Description>
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          <City>ANDERSON</City>
          <State>IN</State>
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        <NamePerson>KAY J CONFER</NamePerson>
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        <NamePerson>DAVID E COX</NamePerson>
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        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>1</AverageHoursPerWeek>
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        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>DIANA L SWOOPE</NamePerson>
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        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>TOM L WARD</NamePerson>
        <Title>TRUSTEE</Title>
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        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>RALPH E WELTON</NamePerson>
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      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>JAMES B WINNER</NamePerson>
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      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>JAMES L EDWARDS</NamePerson>
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      <Form990PartVIISectionA>
        <NamePerson>JAMES R COOK</NamePerson>
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      <Form990PartVIISectionA>
        <NamePerson>SENA K LANDEY</NamePerson>
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        <NamePerson>MICHAEL E COLLETTE</NamePerson>
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        <NamePerson>ROBERT L COFFMAN</NamePerson>
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        <NamePerson>DANA S STUART</NamePerson>
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        <NamePerson>RONDA REEMER</NamePerson>
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        <NamePerson>CHARLES E STALEY</NamePerson>
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        <NamePerson>D KYLE DE FUR</NamePerson>
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      <Form990PartVIISectionA>
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        <NamePerson>MARIE S MORRIS</NamePerson>
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      <Form990PartVIISectionA>
        <NamePerson>DAVID L SEBASTIAN</NamePerson>
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      <TotalReportableCompFrmRltdOrgs>84785</TotalReportableCompFrmRltdOrgs>
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      <FormersListed>false</FormersListed>
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      <ContractorCompensation>
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      </FeesForServicesLobbying>
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      <OtherExpenses>
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      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>true</FSAudited>
      <AuditCommittee>true</AuditCommittee>
      <FinancialStatementConsolidated>X</FinancialStatementConsolidated>
      <FederalGrantAuditRequired>true</FederalGrantAuditRequired>
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      <School170b1Aii>X</School170b1Aii>
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        <Description>REAL ESTATE</Description>
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        <Description>LIFE INSURANCE</Description>
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      <OtherSecurities>
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      <OtherLiabilities>
        <Description>FEDERAL SOCIAL SECURITY TAXES</Description>
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      <OtherLiabilities>
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      <DiscriminateRaceEmplmnFaculty>false</DiscriminateRaceEmplmnFaculty>
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      <ComplianceWithRevProc7550>true</ComplianceWithRevProc7550>
      <Form990ScheduleEPartII>
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        <Explanation>LOCAL GOLF CLUB MEMBERSHIP PROVIDED FOR THE PRESIDENT'S BUSINESS USE.</Explanation>
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        </IssuerName>
        <IssuerEIN>351611409</IssuerEIN>
        <DateIssued>2005-07-05</DateIssued>
        <IssuePrice>1306440</IssuePrice>
        <DescriptionOfPurpose>EDUCATIONAL FACILITIES CAPITAL (ENERGY) UPGRADES</DescriptionOfPurpose>
        <Defeased>false</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartI>
        <IssuerName>
          <BusinessNameLine1>CITY OF ANDERSON INDIANA</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>356000939</IssuerEIN>
        <CUSIPNumber>033887BL3</CUSIPNumber>
        <DateIssued>1998-12-30</DateIssued>
        <IssuePrice>13729232</IssuePrice>
        <DescriptionOfPurpose>CAPITAL PROJECTS AND REFUND OUTSTANDING EDUCATIONAL</DescriptionOfPurpose>
        <Defeased>true</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartI>
        <IssuerName>
          <BusinessNameLine1>CITY OF ANDERSON INDIANA</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>356000939</IssuerEIN>
        <CUSIPNumber>033887BX7</CUSIPNumber>
        <DateIssued>2001-05-23</DateIssued>
        <IssuePrice>13839570</IssuePrice>
        <DescriptionOfPurpose>CAPITAL PROJECTS AND CAMPUS FACILITY IMPROVEMENTS</DescriptionOfPurpose>
        <Defeased>true</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartII>
        <AmountRetired>0</AmountRetired>
        <AmountBondDefeased>0</AmountBondDefeased>
        <TotalProceeds>47587630</TotalProceeds>
        <AmountInReserveFund>873375</AmountInReserveFund>
        <CapitalizedInterest>0</CapitalizedInterest>
        <RefundingEscrow>22973625</RefundingEscrow>
        <IssuanceCostsFromProceeds>496160</IssuanceCostsFromProceeds>
        <CreditEnhancement>0</CreditEnhancement>
        <WorkingCapitalExpenditures>0</WorkingCapitalExpenditures>
        <CapitalExpenditures>23244470</CapitalExpenditures>
        <OtherSpentProceeds>0</OtherSpentProceeds>
        <AmountUnspent>0</AmountUnspent>
        <YearOfSubstCompletion>2009</YearOfSubstCompletion>
        <CurrentRefunding>true</CurrentRefunding>
        <AdvanceRefunding>false</AdvanceRefunding>
        <FinalAllocationMade>true</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>true</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartII>
        <AmountRetired>0</AmountRetired>
        <AmountBondDefeased>0</AmountBondDefeased>
        <TotalProceeds>1306440</TotalProceeds>
        <AmountInReserveFund>0</AmountInReserveFund>
        <CapitalizedInterest>0</CapitalizedInterest>
        <RefundingEscrow>0</RefundingEscrow>
        <IssuanceCostsFromProceeds>26000</IssuanceCostsFromProceeds>
        <CreditEnhancement>0</CreditEnhancement>
        <WorkingCapitalExpenditures>0</WorkingCapitalExpenditures>
        <CapitalExpenditures>1280440</CapitalExpenditures>
        <OtherSpentProceeds>0</OtherSpentProceeds>
        <AmountUnspent>0</AmountUnspent>
        <YearOfSubstCompletion>2007</YearOfSubstCompletion>
        <CurrentRefunding>false</CurrentRefunding>
        <AdvanceRefunding>false</AdvanceRefunding>
        <FinalAllocationMade>true</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>true</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartII>
        <AmountRetired>0</AmountRetired>
        <AmountBondDefeased>0</AmountBondDefeased>
        <TotalProceeds>13788318</TotalProceeds>
        <AmountInReserveFund>454397</AmountInReserveFund>
        <CapitalizedInterest>0</CapitalizedInterest>
        <RefundingEscrow>11190064</RefundingEscrow>
        <IssuanceCostsFromProceeds>274584</IssuanceCostsFromProceeds>
        <CreditEnhancement>0</CreditEnhancement>
        <WorkingCapitalExpenditures>0</WorkingCapitalExpenditures>
        <CapitalExpenditures>1810187</CapitalExpenditures>
        <OtherSpentProceeds>0</OtherSpentProceeds>
        <AmountUnspent>0</AmountUnspent>
        <YearOfSubstCompletion>1999</YearOfSubstCompletion>
        <CurrentRefunding>true</CurrentRefunding>
        <AdvanceRefunding>false</AdvanceRefunding>
        <FinalAllocationMade>true</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>true</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartII>
        <AmountRetired>0</AmountRetired>
        <AmountBondDefeased>0</AmountBondDefeased>
        <TotalProceeds>13793136</TotalProceeds>
        <AmountInReserveFund>1400000</AmountInReserveFund>
        <CapitalizedInterest>0</CapitalizedInterest>
        <RefundingEscrow>0</RefundingEscrow>
        <IssuanceCostsFromProceeds>276791</IssuanceCostsFromProceeds>
        <CreditEnhancement>0</CreditEnhancement>
        <WorkingCapitalExpenditures>0</WorkingCapitalExpenditures>
        <CapitalExpenditures>12162779</CapitalExpenditures>
        <OtherSpentProceeds>0</OtherSpentProceeds>
        <AmountUnspent>0</AmountUnspent>
        <YearOfSubstCompletion>2002</YearOfSubstCompletion>
        <CurrentRefunding>false</CurrentRefunding>
        <AdvanceRefunding>false</AdvanceRefunding>
        <FinalAllocationMade>true</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>true</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartIII>
        <OwningBondFinancedProperty>false</OwningBondFinancedProperty>
        <AnyLeaseArrangements>false</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>false</MngmentCntrctBondFinancdPrprty>
        <AnyResearchAgreements>false</AnyResearchAgreements>
        <BondCounselRoutinelyEngaged>false</BondCounselRoutinelyEngaged>
        <PrcntgePrvtBusinessUseByOthers>0.0000</PrcntgePrvtBusinessUseByOthers>
        <PercentageOfPrvtBusinessReUBI>0.0000</PercentageOfPrvtBusinessReUBI>
        <TotalPrivateBusinessUse>0.0000</TotalPrivateBusinessUse>
        <PostIssuanceComplianceProcdrs>true</PostIssuanceComplianceProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIII>
        <OwningBondFinancedProperty>false</OwningBondFinancedProperty>
        <AnyLeaseArrangements>false</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>false</MngmentCntrctBondFinancdPrprty>
        <AnyResearchAgreements>false</AnyResearchAgreements>
        <BondCounselRoutinelyEngaged>false</BondCounselRoutinelyEngaged>
        <PrcntgePrvtBusinessUseByOthers>0.0000</PrcntgePrvtBusinessUseByOthers>
        <PercentageOfPrvtBusinessReUBI>0.0000</PercentageOfPrvtBusinessReUBI>
        <TotalPrivateBusinessUse>0.0000</TotalPrivateBusinessUse>
        <PostIssuanceComplianceProcdrs>true</PostIssuanceComplianceProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIII>
        <OwningBondFinancedProperty>false</OwningBondFinancedProperty>
        <AnyLeaseArrangements>false</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>false</MngmentCntrctBondFinancdPrprty>
        <AnyResearchAgreements>false</AnyResearchAgreements>
        <BondCounselRoutinelyEngaged>false</BondCounselRoutinelyEngaged>
        <PrcntgePrvtBusinessUseByOthers>0.0000</PrcntgePrvtBusinessUseByOthers>
        <PercentageOfPrvtBusinessReUBI>0.0000</PercentageOfPrvtBusinessReUBI>
        <TotalPrivateBusinessUse>0.0000</TotalPrivateBusinessUse>
        <PostIssuanceComplianceProcdrs>true</PostIssuanceComplianceProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIII>
        <OwningBondFinancedProperty>false</OwningBondFinancedProperty>
        <AnyLeaseArrangements>false</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>false</MngmentCntrctBondFinancdPrprty>
        <AnyResearchAgreements>false</AnyResearchAgreements>
        <BondCounselRoutinelyEngaged>false</BondCounselRoutinelyEngaged>
        <PrcntgePrvtBusinessUseByOthers>0.0000</PrcntgePrvtBusinessUseByOthers>
        <PercentageOfPrvtBusinessReUBI>0.0000</PercentageOfPrvtBusinessReUBI>
        <TotalPrivateBusinessUse>0.0000</TotalPrivateBusinessUse>
        <PostIssuanceComplianceProcdrs>true</PostIssuanceComplianceProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIV>
        <Form8038TFiled>false</Form8038TFiled>
        <VariableRateIssue>false</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>false</HedgeIdentifiedInBooksAndRecds>
        <TermOfHedge>0.0</TermOfHedge>
        <GrossProceedsInvestedInGIC>false</GrossProceedsInvestedInGIC>
        <TermOfGIC>0.0</TermOfGIC>
        <RegulatorySafeHarborSatisfied>false</RegulatorySafeHarborSatisfied>
        <ExceptionToRebate>false</ExceptionToRebate>
      </Form990ScheduleKPartIV>
      <Form990ScheduleKPartIV>
        <Form8038TFiled>false</Form8038TFiled>
        <VariableRateIssue>false</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>false</HedgeIdentifiedInBooksAndRecds>
        <TermOfHedge>0.0</TermOfHedge>
        <GrossProceedsInvestedInGIC>false</GrossProceedsInvestedInGIC>
        <TermOfGIC>0.0</TermOfGIC>
        <RegulatorySafeHarborSatisfied>false</RegulatorySafeHarborSatisfied>
        <GrossProceedsInvested>false</GrossProceedsInvested>
        <ExceptionToRebate>false</ExceptionToRebate>
      </Form990ScheduleKPartIV>
      <Form990ScheduleKPartIV>
        <Form8038TFiled>false</Form8038TFiled>
        <VariableRateIssue>false</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>false</HedgeIdentifiedInBooksAndRecds>
        <TermOfHedge>0.0</TermOfHedge>
        <GrossProceedsInvestedInGIC>false</GrossProceedsInvestedInGIC>
        <TermOfGIC>0.0</TermOfGIC>
        <RegulatorySafeHarborSatisfied>false</RegulatorySafeHarborSatisfied>
        <GrossProceedsInvested>false</GrossProceedsInvested>
        <ExceptionToRebate>false</ExceptionToRebate>
      </Form990ScheduleKPartIV>
      <Form990ScheduleKPartIV>
        <Form8038TFiled>false</Form8038TFiled>
        <VariableRateIssue>false</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>false</HedgeIdentifiedInBooksAndRecds>
        <GrossProceedsInvestedInGIC>false</GrossProceedsInvestedInGIC>
        <RegulatorySafeHarborSatisfied>false</RegulatorySafeHarborSatisfied>
        <GrossProceedsInvested>false</GrossProceedsInvested>
        <ExceptionToRebate>false</ExceptionToRebate>
      </Form990ScheduleKPartIV>
    </IRS990ScheduleK>
    <IRS990ScheduleK documentId="IRS990ScheduleK2" softwareId="10000128" softwareVersion="v2010.1.0" />
    <IRS990ScheduleL documentId="IRS990ScheduleL" softwareId="10000128" softwareVersion="v2010.1.0">
      <LoanTable>
        <NameBusiness>
          <BusinessNameLine1>WILLIAM H HARDACRE</BusinessNameLine1>
        </NameBusiness>
        <LoanFromOrganization>X</LoanFromOrganization>
        <OriginalPrincipalAmount>59536</OriginalPrincipalAmount>
        <BalanceDue>44855</BalanceDue>
        <Default>false</Default>
        <ApprovedByBoard>true</ApprovedByBoard>
        <WrittenAgreement>true</WrittenAgreement>
      </LoanTable>
      <TotalBalanceDue>44855</TotalBalanceDue>
      <Form990ScheduleLPartIII>
        <NameOfInterestedBusiness>
          <BusinessNameLine1>TUITION ASSISTANCE</BusinessNameLine1>
        </NameOfInterestedBusiness>
        <AmountOfGrant>33560</AmountOfGrant>
      </Form990ScheduleLPartIII>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NameBusiness>
            <BusinessNameLine1>TOM L WARD</BusinessNameLine1>
          </NameBusiness>
        </NameOfInterestedPerson>
        <Relationship>TRUSTEE</Relationship>
        <AmountOfTransaction>692000</AmountOfTransaction>
        <DescriptionOfTransaction>THE UNIVERSITY LEASES RESIDENTIAL FACILITIES ON BEHALF OF STUDENTS FROM EAST ANDERSON HOUSING, LLC, WHERE MR WARD IS THE OWNER OF THE CORPORATION.</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NameBusiness>
            <BusinessNameLine1>WILLIAM HARDACRE</BusinessNameLine1>
          </NameBusiness>
        </NameOfInterestedPerson>
        <Relationship>FORMER TRUSTEE</Relationship>
        <AmountOfTransaction>564000</AmountOfTransaction>
        <DescriptionOfTransaction>WITH THE UNIVERSITY, MR HARDACRE SHARES LIMITED PARTNERSHIP INTEREST IN HWH BUSINESS LP. MR HARDACRE GIFTED 91% OF INTEREST IN HWH TO THE UNIVERSITY. MR HARDACRE HOLDS A NOTE PAYABLE WITH HWH THAT IS RECOGNIZED THROUGH CONSOLIDATION ON THE AUDITED FINANCIAL STATEMENTS OF THE UNIVERSITY IN THE AMOUNT OF THE TRANSACTION REPORTED.</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
    </IRS990ScheduleL>
    <IRS990ScheduleM documentId="IRS990ScheduleM" softwareId="10000128" softwareVersion="v2010.1.0">
      <WorksOfArt>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>1</NumberOfContributions>
        <NoncashContribsRptdF990>500</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>MARKET VALUE</MethodOfDeterminingRevenues>
      </WorksOfArt>
      <BooksAndPublications>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NoncashContribsRptdF990>6807</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>OPINIONS OF EXPERTS</MethodOfDeterminingRevenues>
      </BooksAndPublications>
      <SecuritiesPubliclyTraded>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>11</NumberOfContributions>
        <NoncashContribsRptdF990>136633</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>MARKET VALUE</MethodOfDeterminingRevenues>
      </SecuritiesPubliclyTraded>
      <RealEstateResidential>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>1</NumberOfContributions>
        <NoncashContribsRptdF990>1000</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>OPINIONS OF EXPERTS</MethodOfDeterminingRevenues>
      </RealEstateResidential>
      <OtherNonCashContributionsTable>
        <NonCashCheckbox>X</NonCashCheckbox>
        <Description>TRAVEL EXPENSES</Description>
        <NumberOfContributions>13</NumberOfContributions>
        <NoncashContribsRptdF990>1196</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>COST</MethodOfDeterminingRevenues>
      </OtherNonCashContributionsTable>
      <OtherNonCashContributionsTable>
        <NonCashCheckbox>X</NonCashCheckbox>
        <Description>PERSONAL TANGIBLE PROPERTY</Description>
        <NumberOfContributions>3</NumberOfContributions>
        <NoncashContribsRptdF990>1680</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>MARKET VALUE</MethodOfDeterminingRevenues>
      </OtherNonCashContributionsTable>
      <NumberOf8283Received>0</NumberOf8283Received>
      <AnyPropertyThatMustBeHeld>false</AnyPropertyThatMustBeHeld>
      <ReviewProcessUnusualNCGifts>true</ReviewProcessUnusualNCGifts>
      <ThirdPartiesUsed>true</ThirdPartiesUsed>
      <Form990ScheduleMPartII>
        <Identifier>Third parties used to solicit, process, or sell noncash contributions</Identifier>
        <ReturnReference>Schedule M, Part I, Line 32a</ReturnReference>
        <Explanation>AN OUTSIDE BROKERAGE FIRM IS UTILIZED BY THE UNIVERSITY TO TRADE CONTRIBUTED SHARES OF PUBLICLY TRADED SECURITIES.</Explanation>
      </Form990ScheduleMPartII>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="IRS990ScheduleO" softwareId="10000128" softwareVersion="v2010.1.0">
      <GeneralExplanation>
        <Identifier>Review of form 990 by governing body</Identifier>
        <ReturnReference>Form 990, Part VI, Section B, Line 11b</ReturnReference>
        <Explanation>THE UNIVERSITY'S FORM 990 IS PREPARED BY THE BUSINESS OFFICE. PRIOR TO THE FORM BEING FILED, THE FORM UNDERGOES A REVIEW BY EXTERNAL AUDITORS, THE UNIVERSITY'S CONTROLLER, VICE PRESIDENT FOR FINANCE AND THE AUDIT COMMITTEE. THE AUDIT COMMITTEE IS A SUBCOMMITTEE OF THE UNIVERSITY'S BOARD OF TRUSTEES. THE UNIVERSITY'S BOARD OF TRUSTEES HAS DELEGATED THE REVIEW OF THE FORM 990 TO THE AUDIT COMMITTEE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Conflict of interest policy</Identifier>
        <ReturnReference>Form 990, Part VI, Section B, Line 12c</ReturnReference>
        <Explanation>THE CONTROLLER ANNUALLY MONITORS AND ENFORCES COMPLIANCE WITH THE UNIVERSITY'S CONFLICT OF INTEREST POLICY BY CONDUCTING A REVIEW PRIOR TO THE UNIVERSITY'S ANNUAL AUDIT.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Process used to establish compensation of top management official</Identifier>
        <ReturnReference>Form 990, Part VI, Section B, Line 15a</ReturnReference>
        <Explanation>THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES ESTABLISHES THE SALARY OF THE PRESIDENT UPON RECOMMENDATION OF THE SUBCOMMITTEE ON EVALUATION AND COMPENSATION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Process used to establish compensation of other officers/key employees</Identifier>
        <ReturnReference>Form 990, Part VI, Section B, Line 15b</ReturnReference>
        <Explanation>THE SALARIES OF OTHER EXECUTIVE OFFICERS OF THE UNIVERSITY ARE ESTABLISHED BY THE PRESIDENT, SUBJECT TO THE APPROVAL OF THE SUBCOMMITTEE ON EVALUATION AND COMPENSATION. THE PRESIDENT MAY APPOINT AND ESTABLISH THE SALARIES OF ADMINISTRATIVE OFFICERS AS HE/SHE DEEMS APPROPRIATE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Public Disclosure</Identifier>
        <ReturnReference>Form 990, Part VI, Section C, Line 19</ReturnReference>
        <Explanation>GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE AVAILABLE ON THE UNIVERSITY'S PUBLIC WEBSITE. THE FORM 990 IS FURNISHED UPON REQUEST TO THE BUSINESS OFFICE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Other changes in net assets or fund balances</Identifier>
        <ReturnReference>Form 990, Part XI, Line 5</ReturnReference>
        <Explanation>NET UNREALIZED GAINS (LOSSES) ON INVESTMENTS - 4334079; REPRESENTS ACTUARIAL CHANGE IN ANNUITIES AND TRUSTS. - -70677;</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="IRS990ScheduleR" softwareId="10000128" softwareVersion="v2010.1.0">
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>FLAGSHIP ENTERPRISE CENTER</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>2701 ENTERPRISE DRIVE</AddressLine1>
          <City>ANDERSON</City>
          <State>IN</State>
          <ZIPCode>46013</ZIPCode>
        </AddressUS>
        <EIN>043732583</EIN>
        <PrimaryActivities>SERVE AS A NEW BUSINESS INCUBATOR &amp; GROWTH STAGE BUSINESS ACCELERATOR.</PrimaryActivities>
        <LegalDomicileState>IN</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>N/A</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>ANDERSON UNIVERSITY</BusinessNameLine1>
        </DirectControllingEntityName>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>ORANGEHAUS RECORDS INC</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>1100 E 5TH STREET</AddressLine1>
          <City>ANDERSON</City>
          <State>IN</State>
          <ZIPCode>46012</ZIPCode>
        </AddressUS>
        <EIN>201675766</EIN>
        <PrimaryActivities>TO PROVIDE UNIVERSITY STUDENTS WITH EXPERIENCE IN THE MUSIC RECORDING INDUSTRY.</PrimaryActivities>
        <LegalDomicileState>IN</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>N/A</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>ANDERSON UNIVERSITY</BusinessNameLine1>
        </DirectControllingEntityName>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartIII>
        <NameOfRelatedOrg>
          <BusinessNameLine1>HWH BUSINESS LP</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressUS>
          <AddressLine1>216 SUMMERLAKE CIRCLE</AddressLine1>
          <City>ANDERSON</City>
          <State>IN</State>
          <ZIPCode>46011</ZIPCode>
        </AddressUS>
        <EIN>352084392</EIN>
        <PrimaryActivity>REAL ESTATE</PrimaryActivity>
        <LegalDomicileState>IN</LegalDomicileState>
        <DirectControllingEntityName>
          <BusinessNameLine1>ANDERSON UNIVERSITY</BusinessNameLine1>
        </DirectControllingEntityName>
        <PredominantIncomeType>UNRELATED</PredominantIncomeType>
        <ShareOfTotalIncome>-4000</ShareOfTotalIncome>
        <ShareOfEOYAssets>1948000</ShareOfEOYAssets>
        <DisproportionateAllocations>false</DisproportionateAllocations>
        <GeneralOrManagingPartner>false</GeneralOrManagingPartner>
      </Form990ScheduleRPartIII>
      <ReceiptOfIntAnnRentsRoyalties>false</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>false</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>false</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>false</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>false</LoansOrGuaranteesFromOtherOrg>
      <SaleOfAssetsToOtherOrg>false</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>false</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>false</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>false</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>false</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>false</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>false</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>true</SharingOfFacilities>
      <SharingOfPaidEmployees>true</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>false</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>false</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>false</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>true</OtherTransferFromOtherOrg>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>FLAGSHIP ENTERPRISE CENTER</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>N</TransactionType>
        <AmountInvolved>75185</AmountInvolved>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>FLAGSHIP ENTERPRISE CENTER</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>R</TransactionType>
        <AmountInvolved>258581</AmountInvolved>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>ORANGEHAUS RECORDS INC</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>M</TransactionType>
        <AmountInvolved>575</AmountInvolved>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>ORANGEHAUS RECORDS INC</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>N</TransactionType>
        <AmountInvolved>6028</AmountInvolved>
      </TransactionsRelatedOrgsTable>
    </IRS990ScheduleR>
  </ReturnData>
</Return>