﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" returnVersion="2010v3.4">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2012-05-11T10:02:51-04:00</Timestamp>
    <TaxPeriodEndDate>2011-06-30</TaxPeriodEndDate>
    <ReturnType>990</ReturnType>
    <TaxPeriodBeginDate>2010-07-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>540505906</EIN>
      <Name>
        <BusinessNameLine1>Hampden Sydney College</BusinessNameLine1>
      </Name>
      <NameControl>HAMP</NameControl>
      <USAddress>
        <AddressLine1>College Road</AddressLine1>
        <City>Hampden Sydney</City>
        <State>VA</State>
        <ZIPCode>23943</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>W Glenn Culley Jr</Name>
      <Title>VP Business Aff</Title>
      <Phone>4342236216</Phone>
      <DateSigned>2012-05-11</DateSigned>
      <AuthorizeThirdParty>false</AuthorizeThirdParty>
    </Officer>
    <TaxYear>2010</TaxYear>
    <BuildTS>2016-02-24 21:20:13Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="12">
    <IRS990 documentId="990">
      <NameOfPrincipalOfficerPerson>Christopher B Howard</NameOfPrincipalOfficerPerson>
      <AddressPrincipalOfficerUS>
        <AddressLine1>College Road</AddressLine1>
        <City>Hampden Sydney</City>
        <State>VA</State>
        <ZIPCode>23943</ZIPCode>
      </AddressPrincipalOfficerUS>
      <GrossReceipts>66669568</GrossReceipts>
      <GroupReturnForAffiliates>false</GroupReturnForAffiliates>
      <Organization501c3>X</Organization501c3>
      <WebSite>http://www.hsc.edu</WebSite>
      <TypeOfOrganizationCorporation>X</TypeOfOrganizationCorporation>
      <YearFormation>1919</YearFormation>
      <StateLegalDomicile>VA</StateLegalDomicile>
      <ActivityOrMissionDescription>SINCE 1775 THE MISSION OF HAMPDEN-SYDNEY COLLEGE HAS BEEN TO FORM GOOD MEN AND GOOD CITIZENS IN AN ATMOSPHERE OF SOUND LEARNING</ActivityOrMissionDescription>
      <NbrVotingMembersGoverningBody>40</NbrVotingMembersGoverningBody>
      <NbrIndependentVotingMembers>40</NbrIndependentVotingMembers>
      <TotalNbrEmployees>921</TotalNbrEmployees>
      <TotalNbrVolunteers>936</TotalNbrVolunteers>
      <TotalGrossUBI>36325</TotalGrossUBI>
      <NetUnrelatedBusinessTxblIncome>-141781</NetUnrelatedBusinessTxblIncome>
      <ContributionsGrantsPriorYear>8654878</ContributionsGrantsPriorYear>
      <ContributionsGrantsCurrentYear>10954969</ContributionsGrantsCurrentYear>
      <ProgramServiceRevenuePriorYear>45229421</ProgramServiceRevenuePriorYear>
      <ProgramServiceRevenueCY>46515692</ProgramServiceRevenueCY>
      <InvestmentIncomePriorYear>8811036</InvestmentIncomePriorYear>
      <InvestmentIncomeCurrentYear>889221</InvestmentIncomeCurrentYear>
      <OtherRevenuePriorYear>868152</OtherRevenuePriorYear>
      <OtherRevenueCurrentYear>316407</OtherRevenueCurrentYear>
      <TotalRevenuePriorYear>63563487</TotalRevenuePriorYear>
      <TotalRevenueCurrentYear>58676289</TotalRevenueCurrentYear>
      <GrantsAndSimilarAmntsPriorYear>15155209</GrantsAndSimilarAmntsPriorYear>
      <GrantsAndSimilarAmntsCY>16591907</GrantsAndSimilarAmntsCY>
      <BenefitsPaidToMembersCY>0</BenefitsPaidToMembersCY>
      <SalariesEtcPriorYear>23880713</SalariesEtcPriorYear>
      <SalariesEtcCurrentYear>23453286</SalariesEtcCurrentYear>
      <TotalProfFundrsngExpCY>0</TotalProfFundrsngExpCY>
      <TotalFundrsngExpCurrentYear>1680122</TotalFundrsngExpCurrentYear>
      <OtherExpensePriorYear>19948963</OtherExpensePriorYear>
      <OtherExpensesCurrentYear>20582518</OtherExpensesCurrentYear>
      <TotalExpensesPriorYear>58984885</TotalExpensesPriorYear>
      <TotalExpensesCurrentYear>60627711</TotalExpensesCurrentYear>
      <RevenuesLessExpensesPriorYear>4578602</RevenuesLessExpensesPriorYear>
      <RevenuesLessExpensesCY>-1951422</RevenuesLessExpensesCY>
      <TotalAssetsBOY>234740540</TotalAssetsBOY>
      <TotalAssetsEOY>246942768</TotalAssetsEOY>
      <TotalLiabilitiesBOY>39986504</TotalLiabilitiesBOY>
      <TotalLiabilitiesEOY>33507729</TotalLiabilitiesEOY>
      <NetAssetsOrFundBalancesBOY>194754036</NetAssetsOrFundBalancesBOY>
      <NetAssetsOrFundBalancesEOY>213435039</NetAssetsOrFundBalancesEOY>
      <MissionDescription>SINCE 1775 THE MISSION OF HAMPDEN-SYDNEY COLLEGE HAS BEEN TO FORM GOOD MEN AND GOOD CITIZENS IN AN ATMOSPHERE OF SOUND LEARNING</MissionDescription>
      <SignificantNewProgramServices>false</SignificantNewProgramServices>
      <SignificantChange>false</SignificantChange>
      <Expense>50006482</Expense>
      <Grants>16591907</Grants>
      <Revenue>46515692</Revenue>
      <Description>Educational Activities 1058 Students</Description>
      <TotalProgramServiceExpense>50006482</TotalProgramServiceExpense>
      <DescribedIn501C3 referenceDocumentId="990A">true</DescribedIn501C3>
      <ScheduleBRequired referenceDocumentId="990B">true</ScheduleBRequired>
      <PoliticalActivities>false</PoliticalActivities>
      <LobbyingActivities>false</LobbyingActivities>
      <DonorAdvisedFunds>false</DonorAdvisedFunds>
      <ConservationEasements>false</ConservationEasements>
      <CollectionsOfArt>false</CollectionsOfArt>
      <CreditCounseling>false</CreditCounseling>
      <TermOrPermanentEndowments referenceDocumentId="990D">true</TermOrPermanentEndowments>
      <ReportLandBldgEquip referenceDocumentId="990D">true</ReportLandBldgEquip>
      <ReportInvestOthSecurities referenceDocumentId="990D">true</ReportInvestOthSecurities>
      <ReportProgRelInvest>false</ReportProgRelInvest>
      <ReportOtherAssets>false</ReportOtherAssets>
      <ReportOtherLiabilities referenceDocumentId="990D">true</ReportOtherLiabilities>
      <ReportFin48Footnote referenceDocumentId="990D">true</ReportFin48Footnote>
      <IndependentAuditFinancialStmt referenceDocumentId="990D">true</IndependentAuditFinancialStmt>
      <ConsolidatedAuditFinancialStmt>false</ConsolidatedAuditFinancialStmt>
      <School referenceDocumentId="990E">true</School>
      <ForeignOffice>false</ForeignOffice>
      <ForeignActivities referenceDocumentId="990F">true</ForeignActivities>
      <MoreThan5000KToOrganizations>false</MoreThan5000KToOrganizations>
      <MoreThan5000KToIndividuals>false</MoreThan5000KToIndividuals>
      <ProfessionalFundraising>false</ProfessionalFundraising>
      <FundraisingActivities>false</FundraisingActivities>
      <Gaming>false</Gaming>
      <Hospital>false</Hospital>
      <GrantsToOrganizations>false</GrantsToOrganizations>
      <GrantsToIndividuals referenceDocumentId="990I">true</GrantsToIndividuals>
      <ScheduleJRequired referenceDocumentId="990J">true</ScheduleJRequired>
      <TaxExemptBonds referenceDocumentId="990K">true</TaxExemptBonds>
      <InvestTaxExemptBonds>false</InvestTaxExemptBonds>
      <EscrowAccount>false</EscrowAccount>
      <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
      <ExcessBenefitTransaction>false</ExcessBenefitTransaction>
      <PriorExcessBenefitTransaction>false</PriorExcessBenefitTransaction>
      <LoanToOfficerOrDQP>false</LoanToOfficerOrDQP>
      <GrantToRelatedPerson>false</GrantToRelatedPerson>
      <BsnssRltnshpWithOrganization>false</BsnssRltnshpWithOrganization>
      <BsnssRltnshpThruFamilyMember>false</BsnssRltnshpThruFamilyMember>
      <OfficerEntityWithBsnssRltnshp>false</OfficerEntityWithBsnssRltnshp>
      <DeductibleNonCashContributions referenceDocumentId="990M">true</DeductibleNonCashContributions>
      <DeductibleContributionsOfArt>false</DeductibleContributionsOfArt>
      <Terminated>false</Terminated>
      <PartialLiquidation>false</PartialLiquidation>
      <DisregardedEntity referenceDocumentId="990R">true</DisregardedEntity>
      <RelatedEntity>false</RelatedEntity>
      <RelatedOrgControlledEntity>false</RelatedOrgControlledEntity>
      <TransactionRelatedEntity>false</TransactionRelatedEntity>
      <TransfersToExemptNonChrtblOrg>false</TransfersToExemptNonChrtblOrg>
      <ActivitiesConductedPartnership>false</ActivitiesConductedPartnership>
      <ScheduleORequired>true</ScheduleORequired>
      <NumberFormsTransmittedWith1096>1558</NumberFormsTransmittedWith1096>
      <NumberW2GIncluded>0</NumberW2GIncluded>
      <NumberOfEmployees>921</NumberOfEmployees>
      <EmploymentTaxReturnsFiled>true</EmploymentTaxReturnsFiled>
      <UnrelatedBusinessIncome>true</UnrelatedBusinessIncome>
      <Form990-TFiled>true</Form990-TFiled>
      <ForeignFinancialAccount>false</ForeignFinancialAccount>
      <ProhibitedTaxShelterTrans>false</ProhibitedTaxShelterTrans>
      <TaxablePartyNotification>false</TaxablePartyNotification>
      <NonDeductibleContributions>true</NonDeductibleContributions>
      <NonDeductibleDisclosure>true</NonDeductibleDisclosure>
      <QuidProQuoContributions>false</QuidProQuoContributions>
      <Form8282PropertyDisposedOf>false</Form8282PropertyDisposedOf>
      <FundsToPayPremiums>false</FundsToPayPremiums>
      <PremiumsPaid>false</PremiumsPaid>
      <IndoorTanningServices>false</IndoorTanningServices>
      <InfoInScheduleOPartVI>X</InfoInScheduleOPartVI>
      <NbrVotingGoverningBodyMembers>40</NbrVotingGoverningBodyMembers>
      <NumberIndependentVotingMembers>40</NumberIndependentVotingMembers>
      <FamilyOrBusinessRelationship>false</FamilyOrBusinessRelationship>
      <DelegationOfManagementDuties>false</DelegationOfManagementDuties>
      <ChangesToOrganizingDocs>false</ChangesToOrganizingDocs>
      <MaterialDiversionOrMisuse>false</MaterialDiversionOrMisuse>
      <MembersOrStockholders>false</MembersOrStockholders>
      <ElectionOfBoardMembers>false</ElectionOfBoardMembers>
      <DecisionsSubjectToApproval>false</DecisionsSubjectToApproval>
      <MinutesOfGoverningBody>true</MinutesOfGoverningBody>
      <MinutesOfCommittees>true</MinutesOfCommittees>
      <OfficerMailingAddress>false</OfficerMailingAddress>
      <LocalChapters>false</LocalChapters>
      <Form990ProvidedToGoverningBody>true</Form990ProvidedToGoverningBody>
      <ConflictOfInterestPolicy>true</ConflictOfInterestPolicy>
      <AnnualDisclosureCoveredPersons>true</AnnualDisclosureCoveredPersons>
      <RegularMonitoringEnforcement>true</RegularMonitoringEnforcement>
      <WhistleblowerPolicy>true</WhistleblowerPolicy>
      <DocumentRetentionPolicy>true</DocumentRetentionPolicy>
      <CompensationProcessCEO>true</CompensationProcessCEO>
      <CompensationProcessOther>true</CompensationProcessOther>
      <InvestmentInJointVenture>false</InvestmentInJointVenture>
      <UponRequest>X</UponRequest>
      <TheBooksAreInCareOf>
        <NamePerson>W Glenn Culley Jr</NamePerson>
        <TelephoneNumber>4342236216</TelephoneNumber>
        <AddressUS>
          <AddressLine1>College Road</AddressLine1>
          <City>Hampden Sydney</City>
          <State>VA</State>
          <ZIPCode>23943</ZIPCode>
        </AddressUS>
      </TheBooksAreInCareOf>
      <Form990PartVIISectionA>
        <NamePerson>Anne Marie Whittemore</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Bartow Morgan Jr</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Bradley H Cary</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>C Cammack Morton</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Charles C Mottley</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Charles L Cabell</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Charles L Capito Jr</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Charles V McPhillips</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Cynthia L Citrone</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>David G Wilson Jr</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Donnan Chancellor Wintermute</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Everett A Hellmuth III</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Frank W Roach</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Frederick C Larmore</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>H Hiter Harris III</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Henry C Spalding Jr</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Hugh L McLaughlin III</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>J Robert Bray</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>James F Lipscomb</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>John B Schug</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>John C Parrott II</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>John Hillen</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>John L Gibson III</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>John W Drescher</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>John W Kirk III</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Jon A Pace</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Joseph F Viar Jr</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Keith W Lewis</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Linda H Marks</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>M Peebles Harrison</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Michael H Blackwell</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Orran J Brown</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Robert D Taylor</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Scott M Harwood</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Tayloe N Negus</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Thaddeus R Shelly III</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Thomas N Allen</NamePerson>
        <Title>Trustee-Chairman</Title>
        <AverageHoursPerWeek>10.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>W Birch Douglass III</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>William L Pannill</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>William T Saunders Jr</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>3.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>C Norman Krueger</NamePerson>
        <Title>VP for Bus AffTreas</Title>
        <AverageHoursPerWeek>50.00</AverageHoursPerWeek>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>217873</ReportableCompFromOrganization>
        <OtherCompensation>21098</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Christopher B Howard</NamePerson>
        <Title>President</Title>
        <AverageHoursPerWeek>50.00</AverageHoursPerWeek>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>247952</ReportableCompFromOrganization>
        <OtherCompensation>103085</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Paul S Baker</NamePerson>
        <Title>VP AdminSec</Title>
        <AverageHoursPerWeek>50.00</AverageHoursPerWeek>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>121101</ReportableCompFromOrganization>
        <OtherCompensation>41265</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Anita Garland</NamePerson>
        <Title>Dean of Admissions</Title>
        <AverageHoursPerWeek>50.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>136550</ReportableCompFromOrganization>
        <OtherCompensation>16143</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>C Beeler Brush</NamePerson>
        <Title>VP - Inst Development</Title>
        <AverageHoursPerWeek>50.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>145788</ReportableCompFromOrganization>
        <OtherCompensation>45837</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Kenneth Townsend</NamePerson>
        <Title>Professor</Title>
        <AverageHoursPerWeek>50.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>118347</ReportableCompFromOrganization>
        <OtherCompensation>18252</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Robert Herdegen</NamePerson>
        <Title>Dean of Faculty</Title>
        <AverageHoursPerWeek>50.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>115718</ReportableCompFromOrganization>
        <OtherCompensation>46602</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>W Glenn Culley Jr</NamePerson>
        <Title>Controller</Title>
        <AverageHoursPerWeek>50.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>111971</ReportableCompFromOrganization>
        <OtherCompensation>13722</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Walter M Bortz</NamePerson>
        <Title>Former President</Title>
        <Former>X</Former>
        <ReportableCompFromOrganization>125000</ReportableCompFromOrganization>
      </Form990PartVIISectionA>
      <TotalReportableCompFromOrg>1340300</TotalReportableCompFromOrg>
      <TotalReportableCompFrmRltdOrgs>0</TotalReportableCompFrmRltdOrgs>
      <TotalOtherCompensation>306004</TotalOtherCompensation>
      <NumberIndividualsGT100K>9</NumberIndividualsGT100K>
      <FormersListed>true</FormersListed>
      <TotalCompGT150K>true</TotalCompGT150K>
      <CompensationFromOtherSources>false</CompensationFromOtherSources>
      <ContractorCompensation>
        <NameOfContractor>
          <NamePerson>Williams Mullen</NamePerson>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>P O Box 91719</AddressLine1>
            <City>Richmond</City>
            <State>VA</State>
            <ZIPCode>23291</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>Attorney</DescriptionOfServices>
        <Compensation>155346</Compensation>
      </ContractorCompensation>
      <NumberOfContractorsGT100K>1</NumberOfContractorsGT100K>
      <GovernmentGrants>2988912</GovernmentGrants>
      <AllOtherContributions>7966057</AllOtherContributions>
      <NoncashContributions>1014175</NoncashContributions>
      <TotalContributions>10954969</TotalContributions>
      <ProgramServiceRevenue>
        <Description>Gross Tuition &amp; Fees</Description>
        <BusinessCode>611710</BusinessCode>
        <TotalRevenueColumn>33038768</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>33038768</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>Auxiliary Enterprises</Description>
        <BusinessCode>611710</BusinessCode>
        <TotalRevenueColumn>13476924</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>13476924</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <TotalProgramServiceRevenue>46515692</TotalProgramServiceRevenue>
      <InvestmentIncome>
        <TotalRevenueColumn>-132396</TotalRevenueColumn>
        <ExclusionAmount>-132396</ExclusionAmount>
      </InvestmentIncome>
      <GrossRents>
        <Personal>4627</Personal>
      </GrossRents>
      <RentalIncomeOrLoss>
        <Personal>4627</Personal>
      </RentalIncomeOrLoss>
      <NetRentalIncomeOrLoss>
        <TotalRevenueColumn>4627</TotalRevenueColumn>
        <UnrelatedBusinessRevenue>4627</UnrelatedBusinessRevenue>
      </NetRentalIncomeOrLoss>
      <GrossAmountSalesAssets>
        <Securities>8603986</Securities>
        <Other>410910</Other>
      </GrossAmountSalesAssets>
      <LessCostOthBasisSalesExpenses>
        <Securities>7668120</Securities>
        <Other>325159</Other>
      </LessCostOthBasisSalesExpenses>
      <GainOrLoss>
        <Securities>935866</Securities>
        <Other>85751</Other>
      </GainOrLoss>
      <NetGainOrLossInvestments>
        <TotalRevenueColumn>1021617</TotalRevenueColumn>
        <ExclusionAmount>1021617</ExclusionAmount>
      </NetGainOrLossInvestments>
      <MiscellaneousRevenue>
        <TotalRevenueColumn>311780</TotalRevenueColumn>
        <UnrelatedBusinessRevenue>31698</UnrelatedBusinessRevenue>
        <ExclusionAmount>280082</ExclusionAmount>
      </MiscellaneousRevenue>
      <TotalOtherRevenue>311780</TotalOtherRevenue>
      <TotalRevenue>
        <TotalRevenueColumn>58676289</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>46515692</RelatedOrExemptFunctionIncome>
        <UnrelatedBusinessRevenue>36325</UnrelatedBusinessRevenue>
        <ExclusionAmount>1169303</ExclusionAmount>
      </TotalRevenue>
      <GrantsToDomesticIndividuals>
        <Total>16591907</Total>
        <ProgramServices>16591907</ProgramServices>
      </GrantsToDomesticIndividuals>
      <CompCurrentOfficersDirectors>
        <Total>579366</Total>
        <ManagementAndGeneral>579366</ManagementAndGeneral>
      </CompCurrentOfficersDirectors>
      <CompDisqualPersons>
        <Total>125000</Total>
        <ManagementAndGeneral>125000</ManagementAndGeneral>
      </CompDisqualPersons>
      <OtherSalariesAndWages>
        <Total>17582748</Total>
        <ProgramServices>13674002</ProgramServices>
        <ManagementAndGeneral>2925984</ManagementAndGeneral>
        <Fundraising>982762</Fundraising>
      </OtherSalariesAndWages>
      <PensionPlanContributions>
        <Total>1192456</Total>
        <ProgramServices>888987</ProgramServices>
        <ManagementAndGeneral>235228</ManagementAndGeneral>
        <Fundraising>68241</Fundraising>
      </PensionPlanContributions>
      <OtherEmployeeBenefits>
        <Total>2685737</Total>
        <ProgramServices>2002241</ProgramServices>
        <ManagementAndGeneral>529798</ManagementAndGeneral>
        <Fundraising>153698</Fundraising>
      </OtherEmployeeBenefits>
      <PayrollTaxes>
        <Total>1287979</Total>
        <ProgramServices>960199</ProgramServices>
        <ManagementAndGeneral>254072</ManagementAndGeneral>
        <Fundraising>73708</Fundraising>
      </PayrollTaxes>
      <FeesForServicesLegal>
        <Total>124808</Total>
        <ManagementAndGeneral>124808</ManagementAndGeneral>
      </FeesForServicesLegal>
      <FeesForServicesAccounting>
        <Total>86737</Total>
        <ManagementAndGeneral>86737</ManagementAndGeneral>
      </FeesForServicesAccounting>
      <OfficeExpenses>
        <Total>2554432</Total>
        <ProgramServices>1645479</ProgramServices>
        <ManagementAndGeneral>794137</ManagementAndGeneral>
        <Fundraising>114816</Fundraising>
      </OfficeExpenses>
      <Travel>
        <Total>659528</Total>
        <ProgramServices>489528</ProgramServices>
        <ManagementAndGeneral>123955</ManagementAndGeneral>
        <Fundraising>46045</Fundraising>
      </Travel>
      <Interest>
        <Total>748359</Total>
        <ProgramServices>748359</ProgramServices>
      </Interest>
      <DepreciationDepletion>
        <Total>4016035</Total>
        <ProgramServices>4016035</ProgramServices>
      </DepreciationDepletion>
      <OtherExpenses>
        <Description>General</Description>
        <Total>3655610</Total>
        <ProgramServices>2347712</ProgramServices>
        <ManagementAndGeneral>1132965</ManagementAndGeneral>
        <Fundraising>174933</Fundraising>
      </OtherExpenses>
      <OtherExpenses>
        <Description>Consultants</Description>
        <Total>3104237</Total>
        <ProgramServices>2967465</ProgramServices>
        <ManagementAndGeneral>136772</ManagementAndGeneral>
      </OtherExpenses>
      <OtherExpenses>
        <Description>Contract Services</Description>
        <Total>2505510</Total>
        <ProgramServices>1406539</ProgramServices>
        <ManagementAndGeneral>1033052</ManagementAndGeneral>
        <Fundraising>65919</Fundraising>
      </OtherExpenses>
      <OtherExpenses>
        <Description>Utilities</Description>
        <Total>1722109</Total>
        <ProgramServices>862876</ProgramServices>
        <ManagementAndGeneral>859233</ManagementAndGeneral>
      </OtherExpenses>
      <OtherExpenses>
        <Description>Student Programs</Description>
        <Total>1405153</Total>
        <ProgramServices>1405153</ProgramServices>
      </OtherExpenses>
      <TotalFunctionalExpenses>
        <Total>60627711</Total>
        <ProgramServices>50006482</ProgramServices>
        <ManagementAndGeneral>8941107</ManagementAndGeneral>
        <Fundraising>1680122</Fundraising>
      </TotalFunctionalExpenses>
      <SavingsAndTempCashInvestments>
        <BOY>1341844</BOY>
        <EOY>740625</EOY>
      </SavingsAndTempCashInvestments>
      <PledgesAndGrantsReceivable>
        <BOY>6191740</BOY>
        <EOY>5160138</EOY>
      </PledgesAndGrantsReceivable>
      <AccountsReceivable>
        <BOY>1438471</BOY>
        <EOY>754464</EOY>
      </AccountsReceivable>
      <OtherNotesLoansReceivableNet>
        <BOY>5218518</BOY>
        <EOY>5806488</EOY>
      </OtherNotesLoansReceivableNet>
      <InventoriesForSaleOrUse>
        <BOY>961324</BOY>
        <EOY>1004861</EOY>
      </InventoriesForSaleOrUse>
      <PrepaidExpensesDeferredCharges>
        <BOY>737755</BOY>
        <EOY>697022</EOY>
      </PrepaidExpensesDeferredCharges>
      <LandBuildingsEquipmentBasis>154739417</LandBuildingsEquipmentBasis>
      <LandBldgEquipmentAccumDeprec>62765663</LandBldgEquipmentAccumDeprec>
      <LandBuildingsEquipmentBasisNet>
        <BOY>92184879</BOY>
        <EOY>91973754</EOY>
      </LandBuildingsEquipmentBasisNet>
      <InvestmentsPubTradedSecurities>
        <BOY>3958307</BOY>
        <EOY>4640788</EOY>
      </InvestmentsPubTradedSecurities>
      <InvestmentsOtherSecurities>
        <BOY>122707702</BOY>
        <EOY>136164628</EOY>
      </InvestmentsOtherSecurities>
      <TotalAssets>
        <BOY>234740540</BOY>
        <EOY>246942768</EOY>
      </TotalAssets>
      <AccountsPayableAccruedExpenses>
        <BOY>6870733</BOY>
        <EOY>7446285</EOY>
      </AccountsPayableAccruedExpenses>
      <GrantsPayable>
        <BOY>1333686</BOY>
        <EOY>1333922</EOY>
      </GrantsPayable>
      <DeferredRevenue>
        <BOY>396418</BOY>
        <EOY>326751</EOY>
      </DeferredRevenue>
      <TaxExemptBondLiabilities>
        <BOY>23277379</BOY>
        <EOY>21941873</EOY>
      </TaxExemptBondLiabilities>
      <MortNotesPyblSecuredInvestProp>
        <BOY>2108288</BOY>
        <EOY>1458898</EOY>
      </MortNotesPyblSecuredInvestProp>
      <OtherLiabilities>
        <BOY>6000000</BOY>
        <EOY>1000000</EOY>
      </OtherLiabilities>
      <TotalLiabilities>
        <BOY>39986504</BOY>
        <EOY>33507729</EOY>
      </TotalLiabilities>
      <FollowSFAS117>X</FollowSFAS117>
      <UnrestrictedNetAssets>
        <BOY>66122691</BOY>
        <EOY>65607851</EOY>
      </UnrestrictedNetAssets>
      <TemporarilyRestrictedNetAssets>
        <BOY>59099891</BOY>
        <EOY>73431385</EOY>
      </TemporarilyRestrictedNetAssets>
      <PermanentlyRestrictedNetAssets>
        <BOY>69531454</BOY>
        <EOY>74395803</EOY>
      </PermanentlyRestrictedNetAssets>
      <TotalNetAssetsFundBalances>
        <BOY>194754036</BOY>
        <EOY>213435039</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>234740540</BOY>
        <EOY>246942768</EOY>
      </TotalLiabNetAssetsFundBalances>
      <InfoInScheduleOPartXI>X</InfoInScheduleOPartXI>
      <ReconcilationRevenueExpenses>-1951422</ReconcilationRevenueExpenses>
      <ReconcilationOtherChanges>20632425</ReconcilationOtherChanges>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>true</FSAudited>
      <AuditCommittee>true</AuditCommittee>
      <FinancialStatementConsolidated>X</FinancialStatementConsolidated>
      <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>112596194</BeginningOfYearBalance>
        <Contributions>2651842</Contributions>
        <InvestmentEarningsOrLosses>20162259</InvestmentEarningsOrLosses>
        <OtherExpenditures>5991565</OtherExpenditures>
        <AdministrativeExpenses>40000</AdministrativeExpenses>
        <EndOfYearBalance>129378730</EndOfYearBalance>
      </CurrentYear>
      <CurrentYearMinus1Year>
        <BeginningOfYearBalance>111497204</BeginningOfYearBalance>
        <Contributions>774327</Contributions>
        <InvestmentEarningsOrLosses>6390867</InvestmentEarningsOrLosses>
        <OtherExpenditures>6026977</OtherExpenditures>
        <AdministrativeExpenses>39227</AdministrativeExpenses>
        <EndOfYearBalance>112596194</EndOfYearBalance>
      </CurrentYearMinus1Year>
      <BoardDesignatedEOYBalance>0.01000</BoardDesignatedEOYBalance>
      <PermanentEndowmentEOYBalance>0.99000</PermanentEndowmentEOYBalance>
      <EndowmentsHeldByUnrelatedOrgs>false</EndowmentsHeldByUnrelatedOrgs>
      <EndowmentsHeldByRelatedOrgs>false</EndowmentsHeldByRelatedOrgs>
      <Land>
        <InvestmentCostOrOtherBasis>2980700</InvestmentCostOrOtherBasis>
        <BookValue>2980700</BookValue>
      </Land>
      <Buildings>
        <InvestmentCostOrOtherBasis>118086204</InvestmentCostOrOtherBasis>
        <Depreciation>35014009</Depreciation>
        <BookValue>83072195</BookValue>
      </Buildings>
      <LeaseholdImprovements>
        <InvestmentCostOrOtherBasis>10607861</InvestmentCostOrOtherBasis>
        <Depreciation>7679069</Depreciation>
        <BookValue>2928792</BookValue>
      </LeaseholdImprovements>
      <Equipment>
        <InvestmentCostOrOtherBasis>23064652</InvestmentCostOrOtherBasis>
        <Depreciation>20072585</Depreciation>
        <BookValue>2992067</BookValue>
      </Equipment>
      <TotalOfBookValueLandBuildings>91973754</TotalOfBookValueLandBuildings>
      <OtherSecurities>
        <Description>Certificate of Deposit</Description>
        <BookValue>50000</BookValue>
        <MethodOfValuation>F</MethodOfValuation>
      </OtherSecurities>
      <OtherSecurities>
        <Description>Real Estate</Description>
        <BookValue>4500000</BookValue>
        <MethodOfValuation>F</MethodOfValuation>
      </OtherSecurities>
      <OtherSecurities>
        <Description>Alternative Investments</Description>
        <BookValue>123678204</BookValue>
        <MethodOfValuation>F</MethodOfValuation>
      </OtherSecurities>
      <OtherSecurities>
        <Description>Other</Description>
        <BookValue>1033028</BookValue>
        <MethodOfValuation>F</MethodOfValuation>
      </OtherSecurities>
      <OtherSecurities>
        <Description>Beneficial Int in Trust</Description>
        <BookValue>6903396</BookValue>
        <MethodOfValuation>F</MethodOfValuation>
      </OtherSecurities>
      <TotalOfBookValueSecurities>136164628</TotalOfBookValueSecurities>
      <OtherLiabilities>
        <Description>Line of Credit</Description>
        <Amount>1000000</Amount>
      </OtherLiabilities>
      <TotalOfAmounts>1000000</TotalOfAmounts>
      <TotalRevenue>58676289</TotalRevenue>
      <TotalExpenses>60627711</TotalExpenses>
      <ExcessOrDeficitForYear>-1951422</ExcessOrDeficitForYear>
      <NetUnrealizedGLOnInvestments>20632425</NetUnrealizedGLOnInvestments>
      <TotalAdjustments>20632425</TotalAdjustments>
      <ExcessOrDeficitPerFS>18681003</ExcessOrDeficitPerFS>
      <TotRevenueEtcAuditedFinclStmt>62716807</TotRevenueEtcAuditedFinclStmt>
      <NetUnrealizedGainsInvestments>20632425</NetUnrealizedGainsInvestments>
      <OtherRevenues>-16591907</OtherRevenues>
      <RevenueNotRptdF990>4040518</RevenueNotRptdF990>
      <RevenueSubtotal>58676289</RevenueSubtotal>
      <TotalRevenuePerForm990>58676289</TotalRevenuePerForm990>
      <TotExpensesEtcAuditedFinclStmt>44035804</TotExpensesEtcAuditedFinclStmt>
      <ExpensesSubtotal>44035804</ExpensesSubtotal>
      <OtherExpensesNotIncluded>16591907</OtherExpensesNotIncluded>
      <ExpensesNotRptdOnFinStmt>16591907</ExpensesNotRptdOnFinStmt>
      <TotalExpensesPerForm990>60627711</TotalExpensesPerForm990>
      <Form990ScheduleDPartXIV>
        <Identifier>Other expenses included on Form 990 Part XIII line 4b</Identifier>
        <Explanation>Form 990 Schedule D Part XII Line 2D and Part XIII Line 4B- Scholarship allowance included in revenue on financial statements</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
        <Identifier>02 Footnote for uncertain tax position under FIN 48 Part X</Identifier>
        <Explanation>Management evaluated the Colleges tax positions and has concluded that the College has taken no uncertain tax positions that require adjustment to the financial statements to comply with the provisions of this guidance</Explanation>
      </Form990ScheduleDPartXIV>
    </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>true</GovernmentFinancialAidReceived>
      <GovernmentFinancialAidRevoked>false</GovernmentFinancialAidRevoked>
      <ComplianceWithRevProc7550>true</ComplianceWithRevProc7550>
      <Form990ScheduleEPartII>
        <Identifier>01 Description of nondiscriminatory policy Question 3</Identifier>
        <Explanation>Advertise in major Virginia newspapers</Explanation>
      </Form990ScheduleEPartII>
      <Form990ScheduleEPartII>
        <Identifier>01 Governmental Agency Financial Aid Questions 6a and 6b</Identifier>
      </Form990ScheduleEPartII>
    </IRS990ScheduleE>
    <IRS990ScheduleF documentId="990F">
      <AcctsActvsOutUSTable>
        <Region>Central America and the Caribb</Region>
        <TypeOfActivitiesConducted>Unrelated trade or b</TypeOfActivitiesConducted>
      </AcctsActvsOutUSTable>
      <TransferToForeignCorp>true</TransferToForeignCorp>
      <InterestInForeignTrust>false</InterestInForeignTrust>
      <OwnForeignCorp>true</OwnForeignCorp>
      <PassiveForeignInvestCo>false</PassiveForeignInvestCo>
      <ForeignPartnership>false</ForeignPartnership>
      <BoycottCountries>false</BoycottCountries>
      <Form990ScheduleFPartV>
        <Explanation>Forms 926 are filed for transactions that were reported by US partnerships held by Hampden-Sydney College The College has not made transfers directly to foreign corporations All Form 5471 filing requirements will be satisfied by the following Form 1065 filer The Richmond Fund LP 6806 Paragon Place Suite 290 Richmond VA 23230 Ein 26-1501561 The Form 1065 will be filed at the IRS Service Center in Ogden UT 84201-0011</Explanation>
      </Form990ScheduleFPartV>
    </IRS990ScheduleF>
    <IRS990ScheduleI documentId="990I">
      <RecordsMaintained>true</RecordsMaintained>
      <Form990ScheduleIPartIII>
        <TypeOfGrant>Grants and Scholarships</TypeOfGrant>
        <NumberOfRecipients>1024</NumberOfRecipients>
        <AmountOfCashGrant>13733057</AmountOfCashGrant>
      </Form990ScheduleIPartIII>
      <Form990ScheduleIPartIV>
        <Identifier>Monitoring procedures (Part I, line 2)</Identifier>
        <Explanation>Form 990, Sch I,Line 2: Students who wish to be considered for financial aid complete an application - the PROFILE from the college scholarship service to apply for college grants and scholarships. Financial aid awards are reviewed at the end of each semester and may be withdrawn if a receipient's citizenship or academic work does not meet the standards of the college. College-sponsored grants and scholarships are limited to 8 semesters and require full-time enrollment. Financial aid receipients must maintain minimum satisfactory academic progress. Hampden-Sydney offers several scholarships, awarded without regard to financial need, which recognize outstanding academic and extracurricular achievement. All applicants for admission are automatically considered for academic scholarships.</Explanation>
      </Form990ScheduleIPartIV>
    </IRS990ScheduleI>
    <IRS990ScheduleJ documentId="990J">
      <HousingAllowanceOrResidence>X</HousingAllowanceOrResidence>
      <WrittenPolicyReTAndEExpenses>true</WrittenPolicyReTAndEExpenses>
      <SubstantiationRequired>true</SubstantiationRequired>
      <CompensationCommittee>X</CompensationCommittee>
      <IndependentConsultant>X</IndependentConsultant>
      <Form990OfOtherOrganizations>X</Form990OfOtherOrganizations>
      <WrittenEmploymentContract>X</WrittenEmploymentContract>
      <CompensationSurvey>X</CompensationSurvey>
      <BoardOrCommitteeApproval>X</BoardOrCommitteeApproval>
      <SeverancePayment>false</SeverancePayment>
      <SupplementalNonqualRetirePlan>true</SupplementalNonqualRetirePlan>
      <EquityBasedCompArrangement>false</EquityBasedCompArrangement>
      <CompBasedOnRevenueOfFilingOrg>false</CompBasedOnRevenueOfFilingOrg>
      <CompBasedOnRevenueRelatedOrgs>false</CompBasedOnRevenueRelatedOrgs>
      <CompBasedNetEarningsFilingOrg>false</CompBasedNetEarningsFilingOrg>
      <CompBasedNetEarningsRelateOrgs>false</CompBasedNetEarningsRelateOrgs>
      <AnyNonFixedPayments>false</AnyNonFixedPayments>
      <InitialContractException>false</InitialContractException>
      <Form990ScheduleJPartII>
        <NamePerson>Christopher B Howard</NamePerson>
        <BaseCompensationFilingOrg>247952</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>71045</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>32040</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>351037</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>C Norman Krueger</NamePerson>
        <BaseCompensationFilingOrg>163584</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>54289</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>10593</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>10505</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>238971</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Paul S Baker</NamePerson>
        <BaseCompensationFilingOrg>121101</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>11525</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>29740</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>162366</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>C Beeler Brush</NamePerson>
        <BaseCompensationFilingOrg>145788</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>14364</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>31473</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>191625</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Anita Garland</NamePerson>
        <BaseCompensationFilingOrg>136550</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>13517</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>2626</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>152693</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Robert Herdegen</NamePerson>
        <BaseCompensationFilingOrg>115718</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>11527</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>35075</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>162320</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Walter M Bortz</NamePerson>
        <BaseCompensationFilingOrg>125000</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>0</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>0</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>125000</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartIII>
        <Identifier>01 Listed persons compensation information Part I line 4</Identifier>
        <Explanation>C Norman Krueger - a contribution of -5200 was recorded for a 457f plan Christopher Howard - a contribution of 48965 was recorded for a 457f plan</Explanation>
      </Form990ScheduleJPartIII>
    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="990K">
      <Form990ScheduleKPartI>
        <IssuerName>
          <BusinessNameLine1>IDA of Town of Farmville VA</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>546001272</IssuerEIN>
        <CUSIPNumber>311617aa2</CUSIPNumber>
        <DateIssued>2003-03-06</DateIssued>
        <IssuePrice>6000000</IssuePrice>
        <DescriptionOfPurpose>Constructing and renovating buildings</DescriptionOfPurpose>
        <Defeased>false</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
        <PoolFinancing>false</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartI>
        <IssuerName>
          <BusinessNameLine1>IDA of Town of Farmville VA</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>546001272</IssuerEIN>
        <DateIssued>2004-07-15</DateIssued>
        <IssuePrice>1210000</IssuePrice>
        <DescriptionOfPurpose>Renovating &amp; equipping Graham Hall</DescriptionOfPurpose>
        <Defeased>false</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
        <PoolFinancing>false</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartI>
        <IssuerName>
          <BusinessNameLine1>IDA of Prince Edward County</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>541245781</IssuerEIN>
        <DateIssued>2005-11-10</DateIssued>
        <IssuePrice>10000000</IssuePrice>
        <DescriptionOfPurpose>Construction Equipping of a library facility</DescriptionOfPurpose>
        <Defeased>false</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
        <PoolFinancing>false</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartI>
        <IssuerName>
          <BusinessNameLine1>VCBA Revenue Bonds Ser 2010</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>541249154</IssuerEIN>
        <CUSIPNumber>927781UB8</CUSIPNumber>
        <DateIssued>2010-05-13</DateIssued>
        <IssuePrice>7190000</IssuePrice>
        <DescriptionOfPurpose>Refunding bonds</DescriptionOfPurpose>
        <Defeased>false</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
        <PoolFinancing>false</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartII>
        <TotalProceeds>6000000</TotalProceeds>
        <IssuanceCostsFromProceeds>112500</IssuanceCostsFromProceeds>
        <CapitalExpenditures>5887500</CapitalExpenditures>
        <YearOfSubstCompletion>2005</YearOfSubstCompletion>
        <CurrentRefunding>false</CurrentRefunding>
        <AdvanceRefunding>false</AdvanceRefunding>
        <FinalAllocationMade>true</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>true</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartII>
        <TotalProceeds>1210000</TotalProceeds>
        <IssuanceCostsFromProceeds>24000</IssuanceCostsFromProceeds>
        <CapitalExpenditures>1186000</CapitalExpenditures>
        <YearOfSubstCompletion>2006</YearOfSubstCompletion>
        <CurrentRefunding>false</CurrentRefunding>
        <AdvanceRefunding>false</AdvanceRefunding>
        <FinalAllocationMade>true</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>true</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartII>
        <TotalProceeds>10000000</TotalProceeds>
        <IssuanceCostsFromProceeds>35000</IssuanceCostsFromProceeds>
        <CapitalExpenditures>9965000</CapitalExpenditures>
        <YearOfSubstCompletion>2006</YearOfSubstCompletion>
        <CurrentRefunding>false</CurrentRefunding>
        <AdvanceRefunding>false</AdvanceRefunding>
        <FinalAllocationMade>true</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>true</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartII>
        <TotalProceeds>7380060</TotalProceeds>
        <RefundingEscrow>7238095</RefundingEscrow>
        <IssuanceCostsFromProceeds>141965</IssuanceCostsFromProceeds>
        <YearOfSubstCompletion>2010</YearOfSubstCompletion>
        <CurrentRefunding>true</CurrentRefunding>
        <AdvanceRefunding>true</AdvanceRefunding>
        <FinalAllocationMade>true</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>true</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartIII>
        <OwningBondFinancedProperty>false</OwningBondFinancedProperty>
        <AnyLeaseArrangements>false</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>false</MngmentCntrctBondFinancdPrprty>
        <AnyResearchAgreements>false</AnyResearchAgreements>
        <BondCounselRoutinelyEngaged>false</BondCounselRoutinelyEngaged>
        <PostIssuanceComplianceProcdrs>true</PostIssuanceComplianceProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIII>
        <OwningBondFinancedProperty>false</OwningBondFinancedProperty>
        <AnyLeaseArrangements>false</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>false</MngmentCntrctBondFinancdPrprty>
        <AnyResearchAgreements>false</AnyResearchAgreements>
        <BondCounselRoutinelyEngaged>false</BondCounselRoutinelyEngaged>
        <PostIssuanceComplianceProcdrs>true</PostIssuanceComplianceProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIII>
        <OwningBondFinancedProperty>false</OwningBondFinancedProperty>
        <AnyLeaseArrangements>false</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>false</MngmentCntrctBondFinancdPrprty>
        <AnyResearchAgreements>false</AnyResearchAgreements>
        <BondCounselRoutinelyEngaged>false</BondCounselRoutinelyEngaged>
        <PostIssuanceComplianceProcdrs>true</PostIssuanceComplianceProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIII>
        <OwningBondFinancedProperty>false</OwningBondFinancedProperty>
        <AnyLeaseArrangements>false</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>false</MngmentCntrctBondFinancdPrprty>
        <AnyResearchAgreements>false</AnyResearchAgreements>
        <BondCounselRoutinelyEngaged>false</BondCounselRoutinelyEngaged>
        <PostIssuanceComplianceProcdrs>true</PostIssuanceComplianceProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIV>
        <Form8038TFiled>true</Form8038TFiled>
        <VariableRateIssue>false</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>false</HedgeIdentifiedInBooksAndRecds>
        <GrossProceedsInvested>false</GrossProceedsInvested>
        <ExceptionToRebate>false</ExceptionToRebate>
      </Form990ScheduleKPartIV>
      <Form990ScheduleKPartIV>
        <Form8038TFiled>true</Form8038TFiled>
        <VariableRateIssue>false</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>false</HedgeIdentifiedInBooksAndRecds>
        <GrossProceedsInvested>false</GrossProceedsInvested>
        <ExceptionToRebate>false</ExceptionToRebate>
      </Form990ScheduleKPartIV>
      <Form990ScheduleKPartIV>
        <Form8038TFiled>true</Form8038TFiled>
        <VariableRateIssue>false</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>false</HedgeIdentifiedInBooksAndRecds>
        <GrossProceedsInvested>false</GrossProceedsInvested>
        <ExceptionToRebate>false</ExceptionToRebate>
      </Form990ScheduleKPartIV>
      <Form990ScheduleKPartIV>
        <Form8038TFiled>true</Form8038TFiled>
        <VariableRateIssue>false</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>false</HedgeIdentifiedInBooksAndRecds>
        <GrossProceedsInvested>false</GrossProceedsInvested>
        <ExceptionToRebate>false</ExceptionToRebate>
      </Form990ScheduleKPartIV>
      <Form990ScheduleKPartV>
        <Identifier>01 Bond purpose Sch K Part I col f</Identifier>
        <Explanation>Schedule K Part 1 Bond Issues A Issuer Name Industrial Development Authority IDA of the Town of Farmville VA F Description of Purpose Constructing and renovating buildings and installing underground power lines</Explanation>
      </Form990ScheduleKPartV>
    </IRS990ScheduleK>
    <IRS990ScheduleM documentId="990M">
      <SecuritiesPubliclyTraded>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>109</NumberOfContributions>
        <NoncashContribsRptdF990>1014175</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>FMV</MethodOfDeterminingRevenues>
      </SecuritiesPubliclyTraded>
      <AnyPropertyThatMustBeHeld>false</AnyPropertyThatMustBeHeld>
      <ReviewProcessUnusualNCGifts>true</ReviewProcessUnusualNCGifts>
      <ThirdPartiesUsed>false</ThirdPartiesUsed>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="990O">
      <GeneralExplanation>
        <Identifier>01. Form 990 governing body review (Part VI, line 11)</Identifier>
        <Explanation>Form 990 Part VI Line 11 Form 990 is reviewed first by the controller then by the VP for Business Affairs and Finance and then by the Board of Trustees through a secure website before it is filed with the IRS</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>02. Conflict of interest policy compliance (Part VI, line 12c)</Identifier>
        <Explanation>Form 990 Part VI Section B Line 12c Each member of the board of trustees is expected to report promptly to the president of the college or to the chairman of the board of trustees the existence of any relationship or interest as it arises which actually or potentially involves or may appear to involve a conflict of interest In addition each trustee will be asked to sign a statement annually reflecting his or her continuing awareness and understanding of this policy At the same time the individual will report either the absence of potential conflicts or the possible areas of concern</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>03. CEO, executive director, top management comp (Part VI, line 15a)</Identifier>
        <Explanation>Form 990 Part VI Section B Line 15a Outside compensation consultants are hired to provide an opinion on the reasonableness of the total compensation paid to the president of Hampden-Sydney College the study included review of the entire compensation arrangement including cash and non-cash components taxable and nontaxable benefits The study included a survey of peer colleges and published survey information for tax-exempt and for-profit sectors In addition to the compensation study the compensation for key employees is also reviewed by the board annually</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>04. Other officer or key employee compensation (Part VI, line 15b</Identifier>
        <Explanation>See explanation for Part VI Line 15a</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>05. Governing documents, etc, available to public (Part VI, line 19)</Identifier>
        <Explanation>FORM 990 PART VI SECTION B LINE 19 Hampden-Sydney Colleges governing documents conflict of interest policy financial statements etcare made available to the public upon request to the Vice President for business affairs and finance</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>06. Explanation of other changes in net assets or fund balances (Part XI, line 5)</Identifier>
        <Explanation>Line 5 - Net unrealized gains losses on investments</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="990R">
      <Form990ScheduleRPartI>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>H-SC Poplar Hill LLC</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>P O Box 127</AddressLine1>
          <City>Hampden Sydney</City>
          <State>VA</State>
          <ZIPCode>23943</ZIPCode>
        </AddressUS>
        <PrimaryActivities>Real Estate</PrimaryActivities>
        <LegalDomicileState>VA</LegalDomicileState>
        <EOYAssets>4500000</EOYAssets>
        <DirectControllingEntityName>
          <BusinessNameLine1>Hampden-Sydney College</BusinessNameLine1>
        </DirectControllingEntityName>
      </Form990ScheduleRPartI>
    </IRS990ScheduleR>
  </ReturnData>
</Return>