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      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>true</FSAudited>
      <AuditCommittee>true</AuditCommittee>
      <FinancialStatementSeparate>X</FinancialStatementSeparate>
      <FederalGrantAuditRequired>true</FederalGrantAuditRequired>
      <FederalGrantAuditPerformed>true</FederalGrantAuditPerformed>
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      <ContribBy35ControlledEntity>false</ContribBy35ControlledEntity>
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          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorNameBusiness>
        <ContributorAddressUS>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
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    <IRS990ScheduleC documentId="IRS990ScheduleC">
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      <TotalDirectLobbying />
      <TotalLobbyingExpenditures />
      <OtherExemptPurposeExpenditures />
      <TotalExemptPurposeExpenditures />
      <LobbyingNontaxableAmount />
      <GrassrootsNontaxableAmount />
      <TotLobbyingGrassrootMinusNonTx />
      <TotLobbyExpendMnsLobbyingNontx />
      <Volunteers>false</Volunteers>
      <PaidStaffOrManagement>false</PaidStaffOrManagement>
      <MediaAdvertisements>false</MediaAdvertisements>
      <MailingsMembers>false</MailingsMembers>
      <PublicationsOrBroadcast>false</PublicationsOrBroadcast>
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      <GrantsOtherOrganizationsAmount>92871</GrantsOtherOrganizationsAmount>
      <DirectContactLegislators>true</DirectContactLegislators>
      <DirectContactLegislatorsAmount>0</DirectContactLegislatorsAmount>
      <RalliesDemonstrations>false</RalliesDemonstrations>
      <OtherActivities>false</OtherActivities>
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      <NotDescribedIn501c3>false</NotDescribedIn501c3>
      <Form4720Filed4912Tax>false</Form4720Filed4912Tax>
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    <IRS990ScheduleD documentId="IRS990ScheduleD">
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      <CollectUsedForScholarResearch>X</CollectUsedForScholarResearch>
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        <AdministrativeExpenses>435651</AdministrativeExpenses>
        <EndOfYearBalance>98719393</EndOfYearBalance>
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      <EndowmentsHeldByUnrelatedOrgs>true</EndowmentsHeldByUnrelatedOrgs>
      <EndowmentsHeldByRelatedOrgs>false</EndowmentsHeldByRelatedOrgs>
      <Land>
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        <BookValue>2329976</BookValue>
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      <Buildings>
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        <OtherCostOrOtherBasis>44854867</OtherCostOrOtherBasis>
        <Depreciation>23119999</Depreciation>
        <BookValue>22825667</BookValue>
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      <LeaseholdImprovements>
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        <Depreciation>161317</Depreciation>
        <BookValue>947007</BookValue>
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      <Equipment>
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      <OtherLandBuildings>
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        <BookValue>206159</BookValue>
      </OtherLandBuildings>
      <TotalOfBookValueLandBuildings>29941389</TotalOfBookValueLandBuildings>
      <OtherAssets>
        <Description>FUNDS HELD IN TRUST BY OTHERS</Description>
        <BookValue>20344351</BookValue>
      </OtherAssets>
      <OtherAssets>
        <Description>RESTRICTED CASH</Description>
        <BookValue>1877430</BookValue>
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      <OtherAssets>
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      <FederalIncomeTaxLiability>0</FederalIncomeTaxLiability>
      <OtherLiabilities>
        <Description>ASSETS HELD IN CUSTODY</Description>
        <Amount>164488</Amount>
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      <OtherLiabilities>
        <Description>LIABILITY ON ANNUITY CONTRACTS</Description>
        <Amount>213861</Amount>
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      <TotalRevenue>32719622</TotalRevenue>
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      <ExcessOrDeficitForYear>-3756705</ExcessOrDeficitForYear>
      <NetUnrealizedGLOnInvestments>8288980</NetUnrealizedGLOnInvestments>
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      <RevenueNotRptdF990>13545390</RevenueNotRptdF990>
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      <RevenueNotRptdOnFinStmt>11526156</RevenueNotRptdOnFinStmt>
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      <ExpensesNotRptdF990>3615324</ExpensesNotRptdF990>
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      <ExpensesNotRptdOnFinStmt>11526156</ExpensesNotRptdOnFinStmt>
      <TotalExpensesPerForm990>36476327</TotalExpensesPerForm990>
      <Form990ScheduleDPartXIV>
        <Identifier>SCHEDULE D, PART III, QUESTION 4</Identifier>
        <Explanation>THE MEADOWS MUSEUM OF ART IS A DEPARTMENT OF THE COLLEGE AND IS LOCATED ON THE COLLEGE CAMPUS. THE MEADOWS MUSEUM EXISTS FOR THE PURPOSES OF HOUSING, CARING FOR, AND EXHIBITING THE PERMANENT COLLECTION ON A ROTATING BASIS AND FOR IMPLEMENTING PUBLIC EDUCATIONAL PROGRAMS DEVELOPED IN TANDEM WITH MUSEUM EXHIBITIONS IN ORDER TO MAXIMIZE EDUCATIONAL IMPACT ON VIEWERS AND PROGRAM PARTICIPANTS. MUSEUM STAFF OFTEN WORK WITH COLLEGE FACULTY TO MOUNT EXHIBITIONS DIRECTLY RELATED TO COURSE CONTENT AND IN THIS WAY SIMULTANEOUSLY SERVE THE CENTENARY COLLEGE STUDENTS, FACULTY AND STAFF AS WELL AS THE REGIONAL COMMUNITY-AT-LARGE. ALL PUBLIC EDUCATIONAL PROGRAMS AND EVENTS ARE PRESENTED FREE-OF-CHARGE. PERIODICALLY, EXHIBITIONS ARE LOANED TO REGIONAL INSTITUTIONS FOR PRESENTATION THAT SPAN THE SOUTHERN GEOGRAPHIC REGION FROM NORTHERN MISSISSIPPI TO CENTRAL TEXAS. THESE ACTIVITIES STRONGLY SUPPORT THE EDUCATIONAL MISSION OF CENTENARY COLLEGE.</Explanation>
      </Form990ScheduleDPartXIV>
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        <Identifier>SCHEDULE D, PART V, QUESTION 4</Identifier>
        <Explanation>THE COLLEGE'S ENDOWMENT FUNDS A PORTION OF THE OPERATING AND CAPITAL REQUIREMENTS OF THE INSTITUTION. IN ADDITION, THERE ARE A NUMBER OF RESTRICTED ENDOWMENTS THAT ARE INTENDED TO FUND SPECIFIC AREAS WITHIN THE INSTITUTION, INCLUDING ENDOWED FACULTY CHAIRS, ENDOWED SCHOLARSHIPS FOR QUALIFIED STUDENTS, AND OTHER SPECIFIC AREAS.</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
        <Identifier>SCHEDULE D, PART XI, LINE 8</Identifier>
        <ReturnReference>OTHER CHANGE IN NET ASSETS</ReturnReference>
        <Explanation>CHANGE IN SPLIT INTEREST AGREEMENT $1,641,086</Explanation>
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        <ReturnReference>OTHER DIFFERENCES</ReturnReference>
        <Explanation>LINE 2D OTHER AMOUNTS IN REVENUE PER AUDITED FINANCIAL STATEMENTS NOT IN REVENUE PER TAX RETURN: AUXILIARY EXPENSES NETTED WITH REVENUE $3,592,613 CHANGE IN SPLIT INTEREST AGREEMENTS $1,641,086 FUNDRAISING EXPENSES INCLUDED IN REVENUE $ 20,255 OTHER EXPENSES INCLUDED IN REVENUE $ 2,456 -------------- $5,256,410 LINE 4B OTHER AMOUNTS IN REVENUE PER TAX RETURN NOT IN REVENUE PER AUDITED FINANCIAL STATEMENTS: SCHOLARSHIPS $ 11,526,156</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
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        <ReturnReference>OTHER DIFFERENCES</ReturnReference>
        <Explanation>LINE 2D OTHER AMOUNTS IN EXPENSE PER AUDITED FINANCIAL STATEMENTS NOT IN EXPENSE PER TAX RETURN: AUXILIARY EXPENSES NETTED WITH REVENUE $3,592,613 FUNDRAISING EXPENSES INCLUDED IN REVENUE $ 20,255 OTHER EXPENSES INCLUDED IN REVENUE $ 2,456 -------------- $3,615,324 LINE 4B OTHER AMOUNTS IN EXPENSE PER TAX RETURN NOT IN EXPENSE PER AUDITED FINANCIAL STATEMENTS: SCHOLARSHIPS $ 11,526,156</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
        <Identifier>FIN 48 UNCERTAIN TAX POSITIONS</Identifier>
        <Explanation>THE ORGANIZATION FILES A TAX-EXEMPT RETURN IN THE U.S. FEDERAL JURISDICTION. THE ORGANIZATION IS NOT SUBJECT TO U.S. FEDERAL TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2007. THE ORGANIZATION ADOPTED CERTAIN PROVISIONS OF FASB ACCOUNTING STANDARDS CODIFICATION (ASC) 740, INCOME TAXES, CONCERNING THE ACCOUNTING FOR UNCERTAIN INCOME TAX POSITIONS ON JANUARY 1, 2009. THE IMPLEMENTATION OF THE PROVISIONS OF ASC 740 DID NOT HAVE ANY EFFECT ON THE FINANCIAL STATEMENTS.</Explanation>
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      <PolicyPublViaBroadcastMedia>true</PolicyPublViaBroadcastMedia>
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      <Form990ScheduleJPartII>
        <NamePerson>DR KATHY FELL</NamePerson>
        <BaseCompensationFilingOrg>123651</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>19596</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>363</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>9220</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>10985</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>163815</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartIII>
        <Identifier>WRITTEN POLICY REGARDING PAYMENT OR REIMBURSEMENT OF EXPENSES</Identifier>
        <ReturnReference>SCHEDULE J, PART 1, LINE 1B</ReturnReference>
        <Explanation>THE COLLEGE DOES NOT REIMBURSE FOR FIRST-CLASS TRAVEL. ON AN INFREQUENT BASIS, COLLEGE EMPLOYEES MAY TRAVEL WITH A BOARD OF TRUSTEE MEMBER ON A CHARTER (OR PRIVATELY-OWNED) PLANE ON COLLEGE BUSINESS. SUCH TRAVEL WOULD TYPICALLY INCLUDE THE PRESIDENT OF THE COLLEGE AND BE AUTHORIZED BY THAT PERSON. HOUSING ALLOWANCES ARE PROVIDED BY CONTRACT TO THE COLLEGE PRESIDENT IN LIEU OF COLLEGE-PROVIDED HOUSING. IN ADDITION, UNDER INTERNAL REVENUE SERVICE RULES, COLLEGE CLERGY MAY MAKE HOUSING ALLOWANCE ELECTIONS TO ALLOCATE A PORTION OF THEIR SALARY TO SUCH AN ALLOWANCE.</Explanation>
      </Form990ScheduleJPartIII>
      <Form990ScheduleJPartIII>
        <Identifier>NON-FIXED PAYMENTS</Identifier>
        <ReturnReference>SCHEDULE J, PART I, LINE 7</ReturnReference>
        <Explanation>PAYMENTS WERE MADE AS PART OF AN EXECUTIVE INCENTIVE PLAN (EIP). THIS WAS AN "AT RISK" PAY PLAN AND WAS TERMINATED AS OF JUNE 30, 2009.</Explanation>
      </Form990ScheduleJPartIII>
    </IRS990ScheduleJ>
    <IRS990ScheduleM documentId="IRS990ScheduleM">
      <WorksOfArt />
      <ArtHistoricalTreasures />
      <ArtFractionalInterest />
      <BooksAndPublications />
      <ClothingAndHouseholdGoods />
      <CarsAndOtherVehicles />
      <BoatsAndPlanes />
      <IntellectualProperty />
      <SecuritiesPubliclyTraded>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>10</NumberOfContributions>
        <NoncashContribsRptdF990>92713</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>FAIR MARKET VALUE</MethodOfDeterminingRevenues>
      </SecuritiesPubliclyTraded>
      <SecuritiesCloselyHeldStock />
      <SecuritiesPrtnrshpTrustIntrsts />
      <SecuritiesMiscellaneous />
      <QualifiedContribHistStruct />
      <QualifiedContribOther />
      <RealEstateResidential />
      <RealEstateCommercial />
      <RealEstateOther />
      <Collectibles />
      <FoodInventory />
      <DrugsAndMedicalSupplies />
      <Taxidermy />
      <HistoricalArtifacts />
      <ScientificSpecimens />
      <ArchaeologicalArtifacts />
      <AnyPropertyThatMustBeHeld>false</AnyPropertyThatMustBeHeld>
      <ReviewProcessUnusualNCGifts>false</ReviewProcessUnusualNCGifts>
      <ThirdPartiesUsed>true</ThirdPartiesUsed>
      <Form990ScheduleMPartII>
        <Identifier>SCHEDULE M, PART I, QUESTION 32B</Identifier>
        <Explanation>THE COLLEGE'S POLICY IS TO SELL ALL MARKETABLE SECURITIES UPON RECEIPT FROM THE DONOR. THE COLLEGE WILL USE ONE OF THE BROKERAGE FIRMS IT HAS AN ACCOUNT WITH TO SELL THE DONATED SECURITIES.</Explanation>
      </Form990ScheduleMPartII>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="IRS990ScheduleO">
      <GeneralExplanation>
        <Identifier>FAMILY/BUSINESS RELATIONSHIP</Identifier>
        <ReturnReference>FORM 990, PART VI, QUESTION 2</ReturnReference>
        <Explanation>EDWARD J. CRAWFORD, III, AND JOHN E. ATKINS HAVE A FAMILY RELATIONSHIP WILLIAM G. ANDERSON AND JAY A. GREENLEAF HAVE A BUSINESS RELATIONSHIP THE COLLEGE IS UNAWARE OF ANY OTHER FAMILY OR BUSINESS RELATIONSHIPS BETWEEN ANY OFFICER, DIRECTOR, TRUSTEE, OR KEY EMPLOYEE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>DELEGATION OF CONTROL TO A MANAGEMENT COMPANY OR OTHER PERSON</Identifier>
        <ReturnReference>FORM 990, PART VI, QUESTION 3</ReturnReference>
        <Explanation>MICHAEL EASTON WAS NAMED INTERIM EVP OF OPERATIONS FOR THE COLLEGE FROM MARCH 2009 THROUGH JULY 2009 AS THE SELECTION PROCESS FOR A NEW PRESIDENT WAS ONGOING. MR. EASTON WAS AN EMPLOYEE OF REGISTRY FOR COLLEGE AND UNIVERSITY PRESIDENTS DURING THIS INTERIM APPOINTMENT.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>PROCESS TO REVIEW THE FORM 990</Identifier>
        <ReturnReference>FORM 990, PART VI, QUESTION 11B</ReturnReference>
        <Explanation>THE AUDIT COMMITTEE IS CHARTERED TO ASSIST THE BOARD OF TRUSTEES IN FULFILLING ITS OVERSIGHT RESPONSIBILITIES FOR THE FINANCIAL REPORTING PROCESS, THE SYSTEM OF INTERNAL CONTROL, THE AUDIT PROCESS, AND THE COLLEGE'S PROCESS FOR MONITORING COMPLIANCE WITH APPLICABLE LAWS AND REGULATIONS AND THE CODE OF CONDUCT. THE ORGANIZATION ENGAGES AN ACCOUNTING FIRM TO PREPARE FORM 990. THE FORM 990 IS THEN REVIEWED AND APPROVED BY THE AUDIT COMMITTEE OF THE BOARD. A RECOMMENDATION IS MADE TO THE FULL BOARD OF TRUSTEES TO ACCEPT THE FORM 990 BASED ON THE AUDIT COMMITTEE RECOMMENDATION. A COPY OF THE FORM 990 IS MADE AVAILABLE TO THE FULL BOARD FOR THEIR REVIEW PRIOR TO FILING.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>PROCESS FOR MONITORING COMPLIANCE WITH CONFLICT OF INTEREST POLICY</Identifier>
        <ReturnReference>FORM 990, PART VI, QUESTION 12C</ReturnReference>
        <Explanation>MEMBERS OF THE BOARD OF TRUSTEES AND KEY SENIOR ADMINISTRATORS SHALL FILE ANNUALLY WITH THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES A COMPLETED QUESTIONNAIRE THAT IS AN ATTACHED EXHIBIT TO THE CONFLICT OF INTEREST POLICY DETAILING ANY POSSIBLE CONFLICTS OF INTEREST WITH THE INSTITUTION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>REVIEW OF CEO OR TOP MGMT OFFICIAL COMPENSATION</Identifier>
        <ReturnReference>FORM 990, PART VI, QUESTION 15A</ReturnReference>
        <Explanation>A REVIEW IS CONDUCTED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, SAID COMMITTEE BEING COMPRISED OF THE OFFICERS OF THE BOARD.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC</Identifier>
        <ReturnReference>FORM 990, PART VI, QUESTION 19</ReturnReference>
        <Explanation>THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OR INTEREST POLICY, AND FINANCIAL STATEMENTS ARE NOT CURRENTLY MADE AVAILABLE TO THE PUBLIC.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>RACIALLY NONDISCRIMINATORY POLICY</Identifier>
        <ReturnReference>FORM 990, SCHEDULE E, LINE 1</ReturnReference>
        <Explanation>CENTENARY COLLEGE INSERTS THE FOLLOWING LANGUAGE IN ITS ADMISSIONS MATERIALS, CATALOG, AND ON-LINE STUDENT HANDBOOK. IN ADDITION, THIS LANGUAGE IS USED IN MULTIPLE PLACES ON OUR WEBSITE, E.G., THE FINANCIAL AID WEBPAGE. "CENTENARY COLLEGE OF LOUISIANA DOES NOT DISCRIMINATE ON THE BASIS OF GENDER, RACE, COLOR, AGE, RELIGION, DISABILITY, SEXUAL ORIENTATION, OR NATIONAL OR ETHNIC ORIGIN IN ITS ADMISSIONS POLICIES, LOAN PROGRAMS, OR OTHER COLLEGE PROGRAMS, POLICIES, AND ACTIVITIES." THE COLLEGE'S GOVERNING DOCUMENTS DO NOT INCLUDE THIS LANGUAGE, ALTHOUGH IT IS THE CLEAR INTENT (AS EVIDENCED ABOVE) OF THE COLLEGE TO FOLLOW SUCH PRACTICES. THE ADMINISTRATION IS RESEARCHING ARCHIVES TO DETERMINE IF ANY PRIOR RESOLUTIONS EXIST AND WILL BRING ITSELF INTO FULL DOCUMENTED COMPLIANCE WITHIN THE NEAR FUTURE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>COMPENSATION OF OFFICERS, DIRECTORS, ETC</Identifier>
        <ReturnReference>FORM 990 PART VII</ReturnReference>
        <Explanation>BOARD MEMBERS DR. MATT WEEKS AND DR. JUAN RODRIGUEZ RECEIVE COMPENSATION FROM THE ORGANIZATION FOR SERVICES AS FACULTY MEMBERS. THEY DO NOT RECEIVE ANY PART OF THEIR COMPENSATION FOR SERVICES ON THE BOARD OF DIRECTORS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>SIGNIFICANT CHANGES TO PROGRAM SERVICES</Identifier>
        <ReturnReference>FORM 990, PART III, LINE 3</ReturnReference>
        <Explanation>IN SPRING 2010, THE BOARD OF TRUSTEES APPROVED A RECOMMENDATION FROM THE PRESIDENT OF THE COLLEGE TO APPROVE THE PHASE-OUT OF 22 ACADEMIC PROGRAMS, MAJORS, AND MINORS. THIS PHASE-OUT WILL OCCUR OVER THREE ACADEMIC YEARS BEGINNING IN 2010-11 AND ENDING 2012-13, GIVING AMPLE TIME FOR ANY STUDENTS WHO ARE ENROLLED IN THE TERMINATED PROGRAMS TO COMPLETE THEIR STUDIES IN SUCH PROGRAM AND GRADUATE. THE COLLEGE WILL CONTINUE TO OFFER 22 ACADEMIC PROGRAMS, MAJORS, AND MINORS WITH A RENEWED FOCUS ON CHURCH-RELATED LIBERAL ARTS AND THE CHALLENGES OF THE 21ST CENTURY.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>