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          <NamePerson>JOURNAL COMMUNICATIONS</NamePerson>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>361 MALLORY STATION RD</AddressLine1>
            <City>FRANKLIN</City>
            <State>TN</State>
            <ZIPCode>37067</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>PUBLICATIONS</DescriptionOfServices>
        <Compensation>594802</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NamePerson>TERRY S KIMBRELL</NamePerson>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>1107 17TH AVENUE SOUTH</AddressLine1>
            <City>NASHVILLE</City>
            <State>TN</State>
            <ZIPCode>37212</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>CONCERT PERFORMER</DescriptionOfServices>
        <Compensation>206500</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NamePerson>ADVANCED SOLUTIONS INTERNATIONAL</NamePerson>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>11044 RESEARCH BLVD</AddressLine1>
            <City>AUSTIN</City>
            <State>TX</State>
            <ZIPCode>78759</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>COMPUTER CONSULTING</DescriptionOfServices>
        <Compensation>205905</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NamePerson>THREE HILLS RODEO</NamePerson>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>13841 150TH ST</AddressLine1>
            <City>MAQUOKETA</City>
            <State>IA</State>
            <ZIPCode>52060</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>RODEO</DescriptionOfServices>
        <Compensation>183000</Compensation>
      </ContractorCompensation>
      <NumberOfContractorsGT100K>9</NumberOfContractorsGT100K>
      <GovernmentGrants>598682</GovernmentGrants>
      <TotalContributions>598682</TotalContributions>
      <ProgramServiceRevenue>
        <Description>CONVENTION REVENUE</Description>
        <BusinessCode>110000</BusinessCode>
        <TotalRevenueColumn>3111555</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>2331454</RelatedOrExemptFunctionIncome>
        <ExclusionAmount>780101</ExclusionAmount>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>LEADERSHIP PROGRAMS REGISTRATION FEES</Description>
        <BusinessCode>110000</BusinessCode>
        <TotalRevenueColumn>2095929</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>2095929</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>MEMBERSHIP DUES</Description>
        <BusinessCode>111000</BusinessCode>
        <TotalRevenueColumn>2545096</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>2545096</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>MAGAZINE SUBSCRIPTIONS</Description>
        <BusinessCode>511120</BusinessCode>
        <TotalRevenueColumn>1359995</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>1359995</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>ADVERTISING</Description>
        <BusinessCode>511140</BusinessCode>
        <TotalRevenueColumn>396783</TotalRevenueColumn>
        <UnrelatedBusinessRevenue>396783</UnrelatedBusinessRevenue>
      </ProgramServiceRevenue>
      <TotalOthProgramServiceRevenue>
        <TotalRevenueColumn>3025600</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>3025600</RelatedOrExemptFunctionIncome>
      </TotalOthProgramServiceRevenue>
      <TotalProgramServiceRevenue>12534958</TotalProgramServiceRevenue>
      <InvestmentIncome>
        <TotalRevenueColumn>228960</TotalRevenueColumn>
        <ExclusionAmount>228960</ExclusionAmount>
      </InvestmentIncome>
      <IncomeFromInvestBondProceeds>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </IncomeFromInvestBondProceeds>
      <RoyaltiesRevenue>
        <TotalRevenueColumn>407761</TotalRevenueColumn>
        <ExclusionAmount>407761</ExclusionAmount>
      </RoyaltiesRevenue>
      <GrossAmountSalesAssets>
        <Securities>1495986</Securities>
      </GrossAmountSalesAssets>
      <LessCostOthBasisSalesExpenses>
        <Securities>1436016</Securities>
      </LessCostOthBasisSalesExpenses>
      <GainOrLoss>
        <Securities>59970</Securities>
      </GainOrLoss>
      <NetGainOrLossInvestments>
        <TotalRevenueColumn>59970</TotalRevenueColumn>
        <ExclusionAmount>59970</ExclusionAmount>
      </NetGainOrLossInvestments>
      <NetIncomeFromFundraisingEvents>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </NetIncomeFromFundraisingEvents>
      <NetIncomeFromGaming>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </NetIncomeFromGaming>
      <GrossSalesOfInventory>9406022</GrossSalesOfInventory>
      <CostOfGoodsSold>5552040</CostOfGoodsSold>
      <NetIncomeOrLoss>
        <TotalRevenueColumn>3853982</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>3853982</RelatedOrExemptFunctionIncome>
      </NetIncomeOrLoss>
      <OtherRevenueMisc>
        <Description>AUCTION</Description>
        <BusinessCode>110000</BusinessCode>
        <TotalRevenueColumn>117529</TotalRevenueColumn>
        <ExclusionAmount>117529</ExclusionAmount>
      </OtherRevenueMisc>
      <TotalOtherRevenue>117529</TotalOtherRevenue>
      <TotalRevenue>
        <TotalRevenueColumn>17801842</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>15212056</RelatedOrExemptFunctionIncome>
        <UnrelatedBusinessRevenue>396783</UnrelatedBusinessRevenue>
        <ExclusionAmount>1594321</ExclusionAmount>
      </TotalRevenue>
      <GrantsToDomesticOrgs>
        <Total>425426</Total>
        <ProgramServices>425426</ProgramServices>
      </GrantsToDomesticOrgs>
      <GrantsToDomesticIndividuals>
        <Total>52000</Total>
        <ProgramServices>52000</ProgramServices>
      </GrantsToDomesticIndividuals>
      <ForeignGrants>
        <Total>0</Total>
      </ForeignGrants>
      <BenefitsToMembers>
        <Total>0</Total>
      </BenefitsToMembers>
      <CompCurrentOfficersDirectors>
        <Total>426101</Total>
        <ProgramServices>161609</ProgramServices>
        <ManagementAndGeneral>264492</ManagementAndGeneral>
      </CompCurrentOfficersDirectors>
      <CompDisqualPersons>
        <Total>0</Total>
      </CompDisqualPersons>
      <OtherSalariesAndWages>
        <Total>6432291</Total>
        <ProgramServices>4585132</ProgramServices>
        <ManagementAndGeneral>1847159</ManagementAndGeneral>
      </OtherSalariesAndWages>
      <PensionPlanContributions>
        <Total>613379</Total>
        <ProgramServices>424630</ProgramServices>
        <ManagementAndGeneral>188749</ManagementAndGeneral>
      </PensionPlanContributions>
      <OtherEmployeeBenefits>
        <Total>658330</Total>
        <ProgramServices>596131</ProgramServices>
        <ManagementAndGeneral>62199</ManagementAndGeneral>
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      <PayrollTaxes>
        <Total>464316</Total>
        <ProgramServices>329071</ProgramServices>
        <ManagementAndGeneral>135245</ManagementAndGeneral>
      </PayrollTaxes>
      <FeesForServicesManagement>
        <Total>0</Total>
      </FeesForServicesManagement>
      <FeesForServicesLegal>
        <Total>82170</Total>
        <ProgramServices>20855</ProgramServices>
        <ManagementAndGeneral>61315</ManagementAndGeneral>
      </FeesForServicesLegal>
      <FeesForServicesAccounting>
        <Total>59504</Total>
        <ProgramServices>2505</ProgramServices>
        <ManagementAndGeneral>56999</ManagementAndGeneral>
      </FeesForServicesAccounting>
      <FeesForServicesLobbying>
        <Total>0</Total>
      </FeesForServicesLobbying>
      <FeesForServicesProfFundraising>
        <Total>0</Total>
      </FeesForServicesProfFundraising>
      <FeesForServicesInvstMgmntFees>
        <Total>10550</Total>
        <ManagementAndGeneral>10550</ManagementAndGeneral>
      </FeesForServicesInvstMgmntFees>
      <FeesForServicesOther>
        <Total>910734</Total>
        <ProgramServices>787139</ProgramServices>
        <ManagementAndGeneral>123595</ManagementAndGeneral>
      </FeesForServicesOther>
      <Advertising>
        <Total>90607</Total>
        <ProgramServices>89610</ProgramServices>
        <ManagementAndGeneral>997</ManagementAndGeneral>
      </Advertising>
      <OfficeExpenses>
        <Total>1453206</Total>
        <ProgramServices>1184886</ProgramServices>
        <ManagementAndGeneral>268320</ManagementAndGeneral>
      </OfficeExpenses>
      <InformationTechnology>
        <Total>322842</Total>
        <ProgramServices>245251</ProgramServices>
        <ManagementAndGeneral>77591</ManagementAndGeneral>
      </InformationTechnology>
      <Royalties>
        <Total>0</Total>
      </Royalties>
      <Occupancy>
        <Total>365932</Total>
        <ProgramServices>272374</ProgramServices>
        <ManagementAndGeneral>93558</ManagementAndGeneral>
      </Occupancy>
      <Travel>
        <Total>1125696</Total>
        <ProgramServices>907675</ProgramServices>
        <ManagementAndGeneral>218021</ManagementAndGeneral>
      </Travel>
      <TravelEntrtnmntPublicOfficials>
        <Total>0</Total>
      </TravelEntrtnmntPublicOfficials>
      <ConferencesMeetings>
        <Total>2497221</Total>
        <ProgramServices>2497221</ProgramServices>
      </ConferencesMeetings>
      <Interest>
        <Total>206808</Total>
        <ProgramServices>148901</ProgramServices>
        <ManagementAndGeneral>57907</ManagementAndGeneral>
      </Interest>
      <PaymentsToAffiliates>
        <Total>0</Total>
      </PaymentsToAffiliates>
      <DepreciationDepletion>
        <Total>814260</Total>
        <ProgramServices>653549</ProgramServices>
        <ManagementAndGeneral>160711</ManagementAndGeneral>
      </DepreciationDepletion>
      <Insurance>
        <Total>59894</Total>
        <ProgramServices>4033</ProgramServices>
        <ManagementAndGeneral>55861</ManagementAndGeneral>
      </Insurance>
      <OtherExpenses>
        <Description>AWARDS</Description>
        <Total>94554</Total>
        <ProgramServices>94554</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>CREDIT CARD FEES</Description>
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        <ProgramServices>129100</ProgramServices>
        <ManagementAndGeneral>1953</ManagementAndGeneral>
      </OtherExpenses>
      <OtherExpenses>
        <Description>BAD DEBTS</Description>
        <Total>3358</Total>
        <ProgramServices>3358</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>RECRUITING EXPENSE</Description>
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        <ProgramServices>20</ProgramServices>
        <ManagementAndGeneral>10031</ManagementAndGeneral>
      </OtherExpenses>
      <OtherExpenses>
        <Description>MISCELLANEOUS EXPENSE</Description>
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        <ProgramServices>197146</ProgramServices>
        <ManagementAndGeneral>-94787</ManagementAndGeneral>
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      <TotalFunctionalExpenses>
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        <ProgramServices>13812176</ProgramServices>
        <ManagementAndGeneral>3600466</ManagementAndGeneral>
        <Fundraising>0</Fundraising>
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      <CashNonInterestBearing>
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      <SavingsAndTempCashInvestments>
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      <FollowSFAS117>X</FollowSFAS117>
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      <TotalNetAssetsFundBalances>
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      <TotalLiabNetAssetsFundBalances>
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      <InfoInScheduleOPartXI>X</InfoInScheduleOPartXI>
      <ReconcilationRevenueExpenses>389200</ReconcilationRevenueExpenses>
      <ReconcilationOtherChanges>345057</ReconcilationOtherChanges>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>true</FSAudited>
      <AuditCommittee>true</AuditCommittee>
      <FinancialStatementSeparate>X</FinancialStatementSeparate>
      <FederalGrantAuditRequired>true</FederalGrantAuditRequired>
      <FederalGrantAuditPerformed>true</FederalGrantAuditPerformed>
    </IRS990>
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        <CurrentTaxYear>598682</CurrentTaxYear>
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        <CurrentTaxYear>0</CurrentTaxYear>
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      <TotalSupportTotal>
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        <CurrentTaxYearMinus1Year>22001710</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>22886578</CurrentTaxYear>
        <Total>110591057</Total>
      </TotalSupportTotal>
      <PublicSupportPercentage509>0.95548</PublicSupportPercentage509>
      <PriorYearSupportPercentage>0.95689</PriorYearSupportPercentage>
      <InvestmentIncomePercentage>0.02702</InvestmentIncomePercentage>
      <PriorYrInvestIncomePercentage>0.02524</PriorYrInvestIncomePercentage>
      <ThirtyThreePercntTestsCY509>X</ThirtyThreePercntTestsCY509>
    </IRS990ScheduleA>
    <IRS990ScheduleD documentId="IRS990ScheduleD">
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      <HeldWorksOfArtAmts />
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        <BookValue>6843144</BookValue>
      </Buildings>
      <LeaseholdImprovements />
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      <TotalRevenuePerForm990>17801842</TotalRevenuePerForm990>
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      <ExpensesNotRptdF990>5552040</ExpensesNotRptdF990>
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      <Form990ScheduleDPartXIV>
        <Identifier>FIN 48 DISCLOSURE</Identifier>
        <ReturnReference>SCHEDULE D, PART X</ReturnReference>
        <Explanation>MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS.</Explanation>
      </Form990ScheduleDPartXIV>
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        <Identifier>OTHER ADJUSTMENTS</Identifier>
        <ReturnReference>Schedule D, Parts XII &amp; XIII, Line 2d</ReturnReference>
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      </Form990ScheduleDPartXIV>
    </IRS990ScheduleD>
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      </AcctsActvsOutUSTable>
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      <TotalNumberOfOffices>0</TotalNumberOfOffices>
      <TotalNumberOfEmployees>0</TotalNumberOfEmployees>
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      <TotalAmountSpent>310277</TotalAmountSpent>
      <TransferToForeignCorp>false</TransferToForeignCorp>
      <InterestInForeignTrust>false</InterestInForeignTrust>
      <OwnForeignCorp>false</OwnForeignCorp>
      <PassiveForeignInvestCo>false</PassiveForeignInvestCo>
      <ForeignPartnership>false</ForeignPartnership>
      <BoycottCountries>false</BoycottCountries>
    </IRS990ScheduleF>
    <IRS990ScheduleI documentId="IRS990ScheduleI">
      <RecordsMaintained>true</RecordsMaintained>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>NATIONAL COUNCIL FOR AGRICULTURAL EDUCATION</BusinessNameLine1>
        </RecipientNameBusiness>
        <AddressUS>
          <AddressLine1>1410 KING ST STE 400</AddressLine1>
          <City>ALEXANDRIA</City>
          <State>VA</State>
          <ZIPCode>22314</ZIPCode>
        </AddressUS>
        <EINOfRecipient>521353539</EINOfRecipient>
        <IRCSection>501 C 3</IRCSection>
        <AmountOfCashGrant>50000</AmountOfCashGrant>
        <PurposeOfGrant>AG ED SUMMIT</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>NATIONAL COUNCIL FOR AGRICULTURAL EDUCATION</BusinessNameLine1>
        </RecipientNameBusiness>
        <AddressUS>
          <AddressLine1>1410 KING ST STE 400</AddressLine1>
          <City>ALEXANDRIA</City>
          <State>VA</State>
          <ZIPCode>22314</ZIPCode>
        </AddressUS>
        <EINOfRecipient>521353539</EINOfRecipient>
        <IRCSection>501 C 3</IRCSection>
        <AmountOfCashGrant>50620</AmountOfCashGrant>
        <PurposeOfGrant>GENERAL SUPPORT</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>NEW YORK STATE FFA ASSOCIATION</BusinessNameLine1>
        </RecipientNameBusiness>
        <AddressUS>
          <AddressLine1>CORNELL UNIVERSITY</AddressLine1>
          <City>ITHACA</City>
          <State>NY</State>
          <ZIPCode>14853</ZIPCode>
        </AddressUS>
        <EINOfRecipient>146048834</EINOfRecipient>
        <IRCSection>501 C 3</IRCSection>
        <AmountOfCashGrant>7500</AmountOfCashGrant>
        <PurposeOfGrant>LIVING TO SERVE PGM</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>MICHIGAN STATE FFA ASSOCIATION</BusinessNameLine1>
        </RecipientNameBusiness>
        <AddressUS>
          <AddressLine1>108 NATURAL RESOURCES BUILDING</AddressLine1>
          <City>EAST LANSING</City>
          <State>MI</State>
          <ZIPCode>48824</ZIPCode>
        </AddressUS>
        <EINOfRecipient>386080004</EINOfRecipient>
        <IRCSection>501 C 3</IRCSection>
        <AmountOfCashGrant>6800</AmountOfCashGrant>
        <PurposeOfGrant>LIVING TO SERVE PGM</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>NAAE INC</BusinessNameLine1>
        </RecipientNameBusiness>
        <AddressUS>
          <AddressLine1>UNIVERSITY OF KENTUCKY</AddressLine1>
          <City>LEXINGTON</City>
          <State>KY</State>
          <ZIPCode>40546</ZIPCode>
        </AddressUS>
        <EINOfRecipient>470467139</EINOfRecipient>
        <IRCSection>501 C 3</IRCSection>
        <AmountOfCashGrant>6000</AmountOfCashGrant>
        <PurposeOfGrant>ALUMNI SUPPORT</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>NATIONAL FFA FOUNDATION INC</BusinessNameLine1>
        </RecipientNameBusiness>
        <AddressUS>
          <AddressLine1>6060 FFA DRIVE</AddressLine1>
          <City>INDIANAPOLIS</City>
          <State>IN</State>
          <ZIPCode>46268</ZIPCode>
        </AddressUS>
        <EINOfRecipient>546044662</EINOfRecipient>
        <IRCSection>501 C 3</IRCSection>
        <AmountOfCashGrant>16000</AmountOfCashGrant>
        <PurposeOfGrant>ALUMNI SUPPORT</PurposeOfGrant>
      </RecipientTable>
      <TotalNbrOf501C3AndGovtGrants>7</TotalNbrOf501C3AndGovtGrants>
      <TotalNbrOfOtherOrganizations>89</TotalNbrOfOtherOrganizations>
      <Form990ScheduleIPartIII>
        <TypeOfGrant>NATIONAL OFFICER COLLEGIATE SCHOLARSHIPS</TypeOfGrant>
        <NumberOfRecipients>6</NumberOfRecipients>
        <AmountOfCashGrant>48000</AmountOfCashGrant>
      </Form990ScheduleIPartIII>
      <Form990ScheduleIPartIII>
        <TypeOfGrant>ALUMNI MEMORIAL SCHOLARSHIPS</TypeOfGrant>
        <NumberOfRecipients>27</NumberOfRecipients>
        <AmountOfCashGrant>3000</AmountOfCashGrant>
      </Form990ScheduleIPartIII>
      <Form990ScheduleIPartIII>
        <TypeOfGrant>2010 AMER DEGREE SCHOLARSHIP</TypeOfGrant>
        <NumberOfRecipients>1</NumberOfRecipients>
        <AmountOfCashGrant>1000</AmountOfCashGrant>
      </Form990ScheduleIPartIII>
      <Form990ScheduleIPartIV>
        <Identifier>PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS IN THE UNITED STATES</Identifier>
        <ReturnReference>SCHEDULE I, PART I, LINE 2</ReturnReference>
        <Explanation>GRANT APPLICATIONS ARE REVIEWED BY A REVIEW PANEL FOR QUALITY AND ALIGNMENT TO PROGRAM OUTCOMES. GRANT AGREEMENTS ARE RECEIVED FROM EACH FUNDED ENTITY WHICH OUTLINES COMPLIANCE RULES. A MINIMUM OF ONE SITE VISIT IS REQUIRED BY STATE ENTITIES AND VISITS FROM NATIONAL FFA STAFF OCCURS AS NEEDED. GRANT APPLICANTS ARE REQUIRED TO PROVIDE A MID-YEAR REPORT ON PROJECT STATUS, PROJECT YEAR-END REPORT(S) AND A FISCAL YEAR-END REPORT.</Explanation>
      </Form990ScheduleIPartIV>
    </IRS990ScheduleI>
    <IRS990ScheduleJ documentId="IRS990ScheduleJ">
      <IndependentConsultant>X</IndependentConsultant>
      <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>Lee Anne Shiller</NamePerson>
        <BaseCompensationFilingOrg>103888</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>20170</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>552</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>12461</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>19315</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>156386</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>William D Armstrong</NamePerson>
        <BaseCompensationFilingOrg>185289</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>10000</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>1584</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>19687</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>30515</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>247075</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Kent G Schescke</NamePerson>
        <BaseCompensationFilingOrg>137084</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>1250</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>552</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>0</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>0</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>138886</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="IRS990ScheduleK">
      <Form990ScheduleKPartI>
        <IssuerName>
          <BusinessNameLine1>INDIANA FINANCE AUTHORITY</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>356001085</IssuerEIN>
        <CUSIPNumber>45505RBE4</CUSIPNumber>
        <DateIssued>2006-11-14</DateIssued>
        <IssuePrice>5005626</IssuePrice>
        <DescriptionOfPurpose>Office Space/Mdse Ctr Construc</DescriptionOfPurpose>
        <Defeased>false</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
        <PoolFinancing>false</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartII>
        <AmountRetired>706266</AmountRetired>
        <AmountBondDefeased>0</AmountBondDefeased>
        <TotalProceeds>5115621</TotalProceeds>
        <AmountInReserveFund>0</AmountInReserveFund>
        <CapitalizedInterest>0</CapitalizedInterest>
        <RefundingEscrow>0</RefundingEscrow>
        <IssuanceCostsFromProceeds>0</IssuanceCostsFromProceeds>
        <CreditEnhancement>96227</CreditEnhancement>
        <WorkingCapitalExpenditures>0</WorkingCapitalExpenditures>
        <CapitalExpenditures>108882</CapitalExpenditures>
        <OtherSpentProceeds>4910512</OtherSpentProceeds>
        <AmountUnspent>0</AmountUnspent>
        <YearOfSubstCompletion>2007</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>true</BondCounselRoutinelyEngaged>
        <PrcntgePrvtBusinessUseByOthers>0.00000</PrcntgePrvtBusinessUseByOthers>
        <PercentageOfPrvtBusinessReUBI>0.00000</PercentageOfPrvtBusinessReUBI>
        <TotalPrivateBusinessUse>0.00000</TotalPrivateBusinessUse>
        <PostIssuanceComplianceProcdrs>true</PostIssuanceComplianceProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIV>
        <Form8038TFiled>false</Form8038TFiled>
        <VariableRateIssue>true</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>false</HedgeIdentifiedInBooksAndRecds>
        <SuperintegratedHedge>false</SuperintegratedHedge>
        <HedgeTerminated>false</HedgeTerminated>
        <GrossProceedsInvestedInGIC>false</GrossProceedsInvestedInGIC>
        <GrossProceedsInvested>false</GrossProceedsInvested>
        <ExceptionToRebate>true</ExceptionToRebate>
      </Form990ScheduleKPartIV>
    </IRS990ScheduleK>
    <IRS990ScheduleO documentId="IRS990ScheduleO">
      <GeneralExplanation>
        <Identifier>PROCESS TO REVIEW FORM 990</Identifier>
        <ReturnReference>FORM 990, PART VI, LINE 11B</ReturnReference>
        <Explanation>THE BOARD TREASURER, CHIEF OPERATING OFFICER, AND DIRECTOR OF FINANCIAL SERVICES PERFORM A DETAILED REVIEW OF THE FORM 990 BEFORE IT IS FILED. THE FINAL VERSION OF THE FORM 990 WILL BE EMAILED TO EACH BOARD MEMBER AND REVIEWED BY AN INDEPENDENT ACCOUNTING FIRM PRIOR TO FILING. THE FORM 990 WILL BE REVIEWED BY THE BOARD OF DIRECTORS. MONITORING AND ENFORCING COMPLIANCE OF THE CONFLICT OF INTEREST POLICY FORM 990, PART VI, LINE 12C CONFLICT OF INTEREST STATEMENTS ARE SIGNED ANNUALLY BY EACH BOARD MEMBER AND OFFICER OF THE ORGANIZATION, AND REVIEWED BY THE CHAIRMAN OF THE BOARD AND HUMAN RESOURCES. IF A BOARD MEMBER HAS A CONFLICT, THEY RECUSE THEMSELVES FROM DISCUSSIONS AND VOTING IN THAT AREA.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>COMPENSATION REVIEWS</Identifier>
        <ReturnReference>FORM 990, PART VI, LINES 15A &amp; 15B</ReturnReference>
        <Explanation>HR DIMENSIONS, AN INDEPENDENT CONSULTANT, CONDUCTS COMPENSATION REVIEWS FOR THE CHIEF EXECUTIVE OFFICER (CEO) AND FOR OTHER OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION. THE BOARD OF DIRECTORS APPROVES THE COO'S COMPENSATION. THE LAST COMPENSATION REVIEWS WERE CONDUCTED IN 2011.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS</Identifier>
        <ReturnReference>FORM 990, PART VI, LINE 19</ReturnReference>
        <Explanation>The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>RECONCILIATION OF NET ASSETS</Identifier>
        <ReturnReference>FORM 990, PART XI, LINE 5</ReturnReference>
        <Explanation>UNREALIZED GAIN ON INVESTMENTS $345,057</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="IRS990ScheduleR">
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>NATIONAL FFA FOUNDATION INC</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>PO BOX 68960</AddressLine1>
          <City>INDIANAPOLIS</City>
          <State>IN</State>
          <ZIPCode>46268</ZIPCode>
        </AddressUS>
        <EIN>546044662</EIN>
        <PrimaryActivities>SUPPORT</PrimaryActivities>
        <LegalDomicileState>DC</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>7</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>NA</BusinessNameLine1>
        </DirectControllingEntityName>
      </Form990ScheduleRPartII>
      <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>false</SharingOfFacilities>
      <SharingOfPaidEmployees>true</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>true</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>true</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>false</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>false</OtherTransferFromOtherOrg>
    </IRS990ScheduleR>
  </ReturnData>
</Return>