﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2009v1.4">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2011-05-13T16:26:59-00:00</Timestamp>
    <TaxPeriodEndDate>2010-06-30</TaxPeriodEndDate>
    <ReturnType>990</ReturnType>
    <TaxPeriodBeginDate>2009-07-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>710236896</EIN>
      <Name>
        <BusinessNameLine1>Harding University</BusinessNameLine1>
      </Name>
      <NameControl>HARD</NameControl>
      <Phone>5012794393</Phone>
      <USAddress>
        <AddressLine1>HU Box 10772</AddressLine1>
        <City>Searcy</City>
        <State>AR</State>
        <ZIPCode>72149</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>J Mel Sansom</Name>
      <Title>VP of Finance</Title>
      <DateSigned>2011-05-13</DateSigned>
      <AuthorizeThirdParty>false</AuthorizeThirdParty>
    </Officer>
    <TaxYear>2009</TaxYear>
    <BuildTS>2016-02-24 21:20:13Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="14">
    <IRS990 documentId="990" softwareId="09000123" softwareVersion="2009.0.12">
      <NameOfPrincipalOfficerPerson>David B Burks</NameOfPrincipalOfficerPerson>
      <AddressPrincipalOfficerUS>
        <AddressLine1>HU Box 12256</AddressLine1>
        <City>Searcy</City>
        <State>AR</State>
        <ZIPCode>72149</ZIPCode>
      </AddressPrincipalOfficerUS>
      <GrossReceipts>120395462</GrossReceipts>
      <GroupReturnForAffiliates>false</GroupReturnForAffiliates>
      <Organization501c typeOf501cOrganization="3">X</Organization501c>
      <WebSite>www.harding.edu</WebSite>
      <TypeOfOrganizationCorporation>X</TypeOfOrganizationCorporation>
      <YearFormation>1946</YearFormation>
      <StateLegalDomicile>AR</StateLegalDomicile>
      <ActivityOrMissionDescription>0 Hardings mission is to provide a quality education that will lead to an understanding and philosophy of life consistent with Christian ideals.</ActivityOrMissionDescription>
      <NbrVotingMembersGoverningBody>22</NbrVotingMembersGoverningBody>
      <NbrIndependentVotingMembers>16</NbrIndependentVotingMembers>
      <TotalNbrEmployees>3045</TotalNbrEmployees>
      <TotalGrossUBI>618633</TotalGrossUBI>
      <ContributionsGrantsPriorYear>14168482</ContributionsGrantsPriorYear>
      <ContributionsGrantsCurrentYear>12379313</ContributionsGrantsCurrentYear>
      <ProgramServiceRevenuePriorYear>101487388</ProgramServiceRevenuePriorYear>
      <ProgramServiceRevenueCY>105032914</ProgramServiceRevenueCY>
      <InvestmentIncomePriorYear>4369034</InvestmentIncomePriorYear>
      <InvestmentIncomeCurrentYear>2612815</InvestmentIncomeCurrentYear>
      <OtherRevenuePriorYear>505992</OtherRevenuePriorYear>
      <OtherRevenueCurrentYear>643056</OtherRevenueCurrentYear>
      <TotalRevenuePriorYear>120530896</TotalRevenuePriorYear>
      <TotalRevenueCurrentYear>120668098</TotalRevenueCurrentYear>
      <GrantsAndSimilarAmntsPriorYear>22595983</GrantsAndSimilarAmntsPriorYear>
      <GrantsAndSimilarAmntsCY>23648862</GrantsAndSimilarAmntsCY>
      <BenefitsPaidToMembersCY>0</BenefitsPaidToMembersCY>
      <SalariesEtcPriorYear>49354506</SalariesEtcPriorYear>
      <SalariesEtcCurrentYear>51091666</SalariesEtcCurrentYear>
      <TotalProfFundrsngExpCY>0</TotalProfFundrsngExpCY>
      <TotalFundrsngExpCurrentYear>1847182</TotalFundrsngExpCurrentYear>
      <OtherExpensePriorYear>45465613</OtherExpensePriorYear>
      <OtherExpensesCurrentYear>44721192</OtherExpensesCurrentYear>
      <TotalExpensesPriorYear>117416102</TotalExpensesPriorYear>
      <TotalExpensesCurrentYear>119461720</TotalExpensesCurrentYear>
      <RevenuesLessExpensesPriorYear>3114794</RevenuesLessExpensesPriorYear>
      <RevenuesLessExpensesCY>1206378</RevenuesLessExpensesCY>
      <TotalAssetsBOY>283740351</TotalAssetsBOY>
      <TotalAssetsEOY>291441668</TotalAssetsEOY>
      <TotalLiabilitiesBOY>66062693</TotalLiabilitiesBOY>
      <TotalLiabilitiesEOY>66411333</TotalLiabilitiesEOY>
      <NetAssetsOrFundBalancesBOY>217677658</NetAssetsOrFundBalancesBOY>
      <NetAssetsOrFundBalancesEOY>225030335</NetAssetsOrFundBalancesEOY>
      <MissionDescription>Hardings mission is to provide a quality education that will lead to an understanding and philosophy of life consistent with Christian ideals. The goals of Harding are the integration of faith, learning and living, as well as the development of Christian scholarship, Christian ethics, development of lasting relationships, promotion of wellness, and citizenship within a global perspective.</MissionDescription>
      <SignificantNewProgramServices>false</SignificantNewProgramServices>
      <SignificantChange>false</SignificantChange>
      <Expense>66225161</Expense>
      <Revenue>51835440</Revenue>
      <Description>Instruction Expense - Classroom and online instruction from pre-kindergarten to doctoral level.</Description>
      <Activity2>
        <Expense>17294999</Expense>
        <Revenue>18514410</Revenue>
        <Description>Room and Board - The university provides housing in newly renovated residence halls and apartments as well as high quality meals in a cafeteria and student center.</Description>
      </Activity2>
      <Activity3>
        <Expense>16807095</Expense>
        <Description>Sudent Services Support - All activities necessary for a healthy and thriving educational environment including library services, athletics, counseling services, educational assistance, registrar and admissions.</Description>
      </Activity3>
      <TotalOfOtherProgramServiceExp>6842615</TotalOfOtherProgramServiceExp>
      <TotalProgramServiceExpense>107169870</TotalProgramServiceExpense>
      <DescribedIn501C3 referenceDocumentId="990A">true</DescribedIn501C3>
      <ScheduleBRequired referenceDocumentId="990B">true</ScheduleBRequired>
      <PoliticalActivities>false</PoliticalActivities>
      <LobbyingActivities>false</LobbyingActivities>
      <DonorAdvisedFunds referenceDocumentId="990D">true</DonorAdvisedFunds>
      <ConservationEasements>false</ConservationEasements>
      <CollectionsOfArt>false</CollectionsOfArt>
      <CreditCounseling>false</CreditCounseling>
      <TermOrPermanentEndowments referenceDocumentId="990D">true</TermOrPermanentEndowments>
      <BalanceSheetAmountsReported referenceDocumentId="990D">true</BalanceSheetAmountsReported>
      <IndependentAuditFinancialStmt referenceDocumentId="990D">true</IndependentAuditFinancialStmt>
      <ConsolidatedAuditFinancialStmt referenceDocumentId="990D">true</ConsolidatedAuditFinancialStmt>
      <School referenceDocumentId="990E">true</School>
      <ForeignOffice>true</ForeignOffice>
      <ForeignActivities referenceDocumentId="990F">true</ForeignActivities>
      <MoreThan5000KToOrganizations>false</MoreThan5000KToOrganizations>
      <MoreThan5000KToIndividuals>false</MoreThan5000KToIndividuals>
      <ProfessionalFundraising>false</ProfessionalFundraising>
      <FundraisingActivities referenceDocumentId="990G">true</FundraisingActivities>
      <Gaming>false</Gaming>
      <Hospital>false</Hospital>
      <GrantsToOrganizations referenceDocumentId="990I">true</GrantsToOrganizations>
      <GrantsToIndividuals referenceDocumentId="990I">true</GrantsToIndividuals>
      <ScheduleJRequired referenceDocumentId="990J">true</ScheduleJRequired>
      <TaxExemptBonds referenceDocumentId="990K:1">true</TaxExemptBonds>
      <InvestTaxExemptBonds>false</InvestTaxExemptBonds>
      <EscrowAccount>false</EscrowAccount>
      <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
      <ExcessBenefitTransaction>false</ExcessBenefitTransaction>
      <PriorExcessBenefitTransaction>false</PriorExcessBenefitTransaction>
      <LoanToOfficerOrDQP referenceDocumentId="990L">true</LoanToOfficerOrDQP>
      <GrantToRelatedPerson referenceDocumentId="990L">true</GrantToRelatedPerson>
      <BsnssRltnshpWithOrganization>false</BsnssRltnshpWithOrganization>
      <BsnssRltnshpThruFamilyMember referenceDocumentId="990L">true</BsnssRltnshpThruFamilyMember>
      <OfficerEntityWithBsnssRltnshp referenceDocumentId="990L">true</OfficerEntityWithBsnssRltnshp>
      <DeductibleNonCashContributions referenceDocumentId="990M">true</DeductibleNonCashContributions>
      <DeductibleContributionsOfArt>false</DeductibleContributionsOfArt>
      <Terminated>false</Terminated>
      <PartialLiquidation>false</PartialLiquidation>
      <DisregardedEntity referenceDocumentId="990R">true</DisregardedEntity>
      <RelatedEntity referenceDocumentId="990R">true</RelatedEntity>
      <RelatedOrgControlledEntity referenceDocumentId="990R">true</RelatedOrgControlledEntity>
      <TransfersToExemptNonChrtblOrg referenceDocumentId="990R">true</TransfersToExemptNonChrtblOrg>
      <ActivitiesConductedPartnership>false</ActivitiesConductedPartnership>
      <ScheduleORequired>true</ScheduleORequired>
      <NumberFormsTransmittedWith1096>293</NumberFormsTransmittedWith1096>
      <NumberW2GIncluded>0</NumberW2GIncluded>
      <ComplianceWithBackupWitholding>true</ComplianceWithBackupWitholding>
      <NumberOfEmployees>3045</NumberOfEmployees>
      <EmploymentTaxReturnsFiled>true</EmploymentTaxReturnsFiled>
      <UnrelatedBusinessIncome>true</UnrelatedBusinessIncome>
      <Form990-TFiled>true</Form990-TFiled>
      <ForeignFinancialAccount>true</ForeignFinancialAccount>
      <NameOfForeignCountry>GR</NameOfForeignCountry>
      <NameOfForeignCountry>UK</NameOfForeignCountry>
      <NameOfForeignCountry>IT</NameOfForeignCountry>
      <ProhibitedTaxShelterTrans>false</ProhibitedTaxShelterTrans>
      <TaxablePartyNotification>false</TaxablePartyNotification>
      <Form8886TFiled>false</Form8886TFiled>
      <NonDeductibleContributions>false</NonDeductibleContributions>
      <QuidProQuoContributions>true</QuidProQuoContributions>
      <QuidProQuoDisclosure>true</QuidProQuoDisclosure>
      <Form8282PropertyDisposedOf>false</Form8282PropertyDisposedOf>
      <FundsToPayPremiums>false</FundsToPayPremiums>
      <PremiumsPaid>false</PremiumsPaid>
      <ExcessBusinessHoldings>false</ExcessBusinessHoldings>
      <TaxableDistributions>false</TaxableDistributions>
      <DistributionToDonor>false</DistributionToDonor>
      <NbrVotingGoverningBodyMembers>22</NbrVotingGoverningBodyMembers>
      <NumberIndependentVotingMembers>16</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>false</CompensationProcessOther>
      <InvestmentInJointVenture>true</InvestmentInJointVenture>
      <WrittenPolicyOrProcedure>true</WrittenPolicyOrProcedure>
      <UponRequest>X</UponRequest>
      <TheBooksAreInCareOf>
        <NamePerson>J Mel Sansom</NamePerson>
        <TelephoneNumber>5012794393</TelephoneNumber>
        <AddressUS>
          <AddressLine1>915 E Market Box 10772</AddressLine1>
          <City>Searcy</City>
          <State>AR</State>
          <ZIPCode>72149</ZIPCode>
        </AddressUS>
      </TheBooksAreInCareOf>
      <Form990PartVIISectionA>
        <NamePerson>David B Burks</NamePerson>
        <Title>President</Title>
        <AverageHoursPerWeek>040.00</AverageHoursPerWeek>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>244135</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>33045</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Jim Carr</NamePerson>
        <Title>Executive VP</Title>
        <AverageHoursPerWeek>040.00</AverageHoursPerWeek>
        <KeyEmployee>X</KeyEmployee>
        <ReportableCompFromOrganization>161477</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>46439</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>J Mel Sansom</NamePerson>
        <Title>Secretary/Treasurer</Title>
        <AverageHoursPerWeek>040.00</AverageHoursPerWeek>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>115000</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>40057</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Lewis Finley</NamePerson>
        <Title>Dean College of Education</Title>
        <AverageHoursPerWeek>040.00</AverageHoursPerWeek>
        <KeyEmployee>X</KeyEmployee>
        <ReportableCompFromOrganization>139157</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>18636</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Julie Hixson-Wallace</NamePerson>
        <Title>Dean College of Pharmacy</Title>
        <AverageHoursPerWeek>040.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>128941</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>17485</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Kenneth M Yates</NamePerson>
        <Title>Dept. Chair College of Pharmacy</Title>
        <AverageHoursPerWeek>040.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>126935</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>8902</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Julie C Kissack</NamePerson>
        <Title>Dept. Chair College of Pharmacy</Title>
        <AverageHoursPerWeek>040.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>115341</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>31817</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Larry Long</NamePerson>
        <Title>VP Academic Affairs</Title>
        <AverageHoursPerWeek>040.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>118687</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>12617</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>C Floyd Daniel</NamePerson>
        <Title>Senior VP</Title>
        <AverageHoursPerWeek>040.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>118681</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>28502</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Paul R Carter deceased</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>William R Chism</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Steve Clary</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>James H Cone Jr</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Robert G Diles</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Henry Farrar deceased</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>W Harrell Freeman</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Charles A Ganus</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Richard H Gibson</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Roosevelt Harris</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Danny J Hawk</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>James D Holsombake</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Gerald G Morgan</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Lundy L Neely</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Roy A Reaves</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Harold R Redd</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Harry B Risinger Jr</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Donald L Shores</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>John O Simmons</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Rebecca R Tubb</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Robert C Walker</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Suzanne Waller</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>W Mark Wallis</NamePerson>
        <Title>Board member</Title>
        <AverageHoursPerWeek>001.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <TotalReportableCompFromOrg>1268354</TotalReportableCompFromOrg>
      <TotalOtherCompensation>237500</TotalOtherCompensation>
      <NumberIndividualsGT100K>21</NumberIndividualsGT100K>
      <FormersListed>false</FormersListed>
      <TotalCompGT150K>true</TotalCompGT150K>
      <CompensationFromOtherSources>false</CompensationFromOtherSources>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>ARAMARK Services</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>1101 Market St 24th Floor</AddressLine1>
            <City>Philadelphia</City>
            <State>PA</State>
            <ZIPCode>19107</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>Dining/Catering Services</DescriptionOfServices>
        <Compensation>6448281</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>ARAMARK Facility Serv</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>24818 Network Place</AddressLine1>
            <City>Chicago</City>
            <State>IL</State>
            <ZIPCode>60673</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <Compensation>1726575</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>MBS</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>PO Box 637</AddressLine1>
            <City>Columbia</City>
            <State>MO</State>
            <ZIPCode>65205</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>Textbooks</DescriptionOfServices>
        <Compensation>703926</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>Hoffman-Henry Ins</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>Box 24920</AddressLine1>
            <City>Searcy</City>
            <State>AR</State>
            <ZIPCode>72221</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>Insurance service provider</DescriptionOfServices>
        <Compensation>484517</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>Magna IV</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>2401 Commercial Lane</AddressLine1>
            <City>Little Rock</City>
            <State>AR</State>
            <ZIPCode>72206</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>Printing</DescriptionOfServices>
        <Compensation>454714</Compensation>
      </ContractorCompensation>
      <NumberOfContractorsGT100K>29</NumberOfContractorsGT100K>
      <GovernmentGrants>2669264</GovernmentGrants>
      <AllOtherContributions>9710049</AllOtherContributions>
      <NoncashContributions>538847</NoncashContributions>
      <TotalContributions>12379313</TotalContributions>
      <ProgramServiceRevenue>
        <Description>Tuition Fees</Description>
        <BusinessCode>611710</BusinessCode>
        <TotalRevenueColumn>78666165</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>78666165</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>Housing</Description>
        <BusinessCode>721310</BusinessCode>
        <TotalRevenueColumn>9370764</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>9370764</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>Food service</Description>
        <BusinessCode>722210</BusinessCode>
        <TotalRevenueColumn>8570333</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>8415478</RelatedOrExemptFunctionIncome>
        <UnrelatedBusinessRevenue>154855</UnrelatedBusinessRevenue>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>Bookstore income</Description>
        <BusinessCode>451211</BusinessCode>
        <TotalRevenueColumn>4153804</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>4016802</RelatedOrExemptFunctionIncome>
        <UnrelatedBusinessRevenue>137002</UnrelatedBusinessRevenue>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>Sales and services</Description>
        <BusinessCode>611710</BusinessCode>
        <TotalRevenueColumn>1358581</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>1358581</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <TotalOthProgramServiceRevenue>
        <TotalRevenueColumn>2913267</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>2586491</RelatedOrExemptFunctionIncome>
        <UnrelatedBusinessRevenue>326776</UnrelatedBusinessRevenue>
      </TotalOthProgramServiceRevenue>
      <TotalProgramServiceRevenue>105032914</TotalProgramServiceRevenue>
      <InvestmentIncome>
        <TotalRevenueColumn>2612815</TotalRevenueColumn>
      </InvestmentIncome>
      <GrossRents>
        <Real>573313</Real>
      </GrossRents>
      <RentalIncomeOrLoss>
        <Real>573313</Real>
      </RentalIncomeOrLoss>
      <NetRentalIncomeOrLoss>
        <TotalRevenueColumn>573313</TotalRevenueColumn>
      </NetRentalIncomeOrLoss>
      <GrossIncomeFundraisingEvents>99301</GrossIncomeFundraisingEvents>
      <CntrbtnsRprtdFundraisingEvents>99301</CntrbtnsRprtdFundraisingEvents>
      <FundraisingDirectExpenses>29558</FundraisingDirectExpenses>
      <NetIncomeFromFundraisingEvents>
        <TotalRevenueColumn>69743</TotalRevenueColumn>
      </NetIncomeFromFundraisingEvents>
      <TotalRevenue>
        <TotalRevenueColumn>120668098</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>104414281</RelatedOrExemptFunctionIncome>
        <UnrelatedBusinessRevenue>618633</UnrelatedBusinessRevenue>
      </TotalRevenue>
      <GrantsToDomesticOrgs>
        <Total>279286</Total>
        <ProgramServices>279286</ProgramServices>
      </GrantsToDomesticOrgs>
      <GrantsToDomesticIndividuals>
        <Total>23369576</Total>
        <ProgramServices>23369576</ProgramServices>
      </GrantsToDomesticIndividuals>
      <ForeignGrants>
        <Total>0</Total>
      </ForeignGrants>
      <BenefitsToMembers>
        <Total>0</Total>
      </BenefitsToMembers>
      <CompCurrentOfficersDirectors>
        <Total>0</Total>
      </CompCurrentOfficersDirectors>
      <CompDisqualPersons>
        <Total>0</Total>
      </CompDisqualPersons>
      <OtherSalariesAndWages>
        <Total>40734765</Total>
        <ProgramServices>36072067</ProgramServices>
        <ManagementAndGeneral>3717053</ManagementAndGeneral>
        <Fundraising>945645</Fundraising>
      </OtherSalariesAndWages>
      <PensionPlanContributions>
        <Total>2507569</Total>
        <ProgramServices>2207757</ProgramServices>
        <ManagementAndGeneral>233948</ManagementAndGeneral>
        <Fundraising>65864</Fundraising>
      </PensionPlanContributions>
      <OtherEmployeeBenefits>
        <Total>5694959</Total>
        <ProgramServices>4878579</ProgramServices>
        <ManagementAndGeneral>638166</ManagementAndGeneral>
        <Fundraising>178214</Fundraising>
      </OtherEmployeeBenefits>
      <PayrollTaxes>
        <Total>2154373</Total>
        <ProgramServices>1926143</ProgramServices>
        <ManagementAndGeneral>202116</ManagementAndGeneral>
        <Fundraising>26114</Fundraising>
      </PayrollTaxes>
      <FeesForServicesManagement>
        <Total>0</Total>
      </FeesForServicesManagement>
      <FeesForServicesLegal>
        <Total>136216</Total>
        <ManagementAndGeneral>136216</ManagementAndGeneral>
      </FeesForServicesLegal>
      <FeesForServicesAccounting>
        <Total>147928</Total>
        <ManagementAndGeneral>147928</ManagementAndGeneral>
      </FeesForServicesAccounting>
      <FeesForServicesLobbying>
        <Total>0</Total>
      </FeesForServicesLobbying>
      <FeesForServicesProfFundraising></FeesForServicesProfFundraising>
      <FeesForServicesInvstMgmntFees>
        <Total>835088</Total>
        <ManagementAndGeneral>835088</ManagementAndGeneral>
      </FeesForServicesInvstMgmntFees>
      <FeesForServicesOther>
        <Total>5198867</Total>
        <ProgramServices>5198867</ProgramServices>
      </FeesForServicesOther>
      <Advertising>
        <Total>1001092</Total>
        <ProgramServices>373899</ProgramServices>
        <ManagementAndGeneral>518519</ManagementAndGeneral>
        <Fundraising>108674</Fundraising>
      </Advertising>
      <OfficeExpenses>
        <Total>7704515</Total>
        <ProgramServices>6377974</ProgramServices>
        <ManagementAndGeneral>965936</ManagementAndGeneral>
        <Fundraising>360605</Fundraising>
      </OfficeExpenses>
      <InformationTechnology>
        <Total>1463198</Total>
        <ProgramServices>358693</ProgramServices>
        <ManagementAndGeneral>1104505</ManagementAndGeneral>
      </InformationTechnology>
      <Royalties>
        <Total>0</Total>
      </Royalties>
      <Occupancy>
        <Total>5649006</Total>
        <ProgramServices>5200687</ProgramServices>
        <ManagementAndGeneral>448319</ManagementAndGeneral>
      </Occupancy>
      <Travel>
        <Total>3834266</Total>
        <ProgramServices>3621987</ProgramServices>
        <ManagementAndGeneral>99472</ManagementAndGeneral>
        <Fundraising>112807</Fundraising>
      </Travel>
      <TravelEntrtnmntPublicOfficials>
        <Total>0</Total>
      </TravelEntrtnmntPublicOfficials>
      <ConferencesMeetings>
        <Total>924634</Total>
        <ProgramServices>895041</ProgramServices>
        <Fundraising>29593</Fundraising>
      </ConferencesMeetings>
      <Interest>
        <Total>1328034</Total>
        <ProgramServices>1317609</ProgramServices>
        <ManagementAndGeneral>10425</ManagementAndGeneral>
      </Interest>
      <PaymentsToAffiliates>
        <Total>0</Total>
      </PaymentsToAffiliates>
      <DepreciationDepletion>
        <Total>8363450</Total>
        <ProgramServices>8062835</ProgramServices>
        <ManagementAndGeneral>300615</ManagementAndGeneral>
      </DepreciationDepletion>
      <Insurance>
        <Total>717278</Total>
        <ProgramServices>296538</ProgramServices>
        <ManagementAndGeneral>420740</ManagementAndGeneral>
      </Insurance>
      <OtherExpenses>
        <Description>Other expenses - Food</Description>
        <Total>1054367</Total>
        <ProgramServices>1054367</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>Other expenses - Purchase for resale</Description>
        <Total>3018747</Total>
        <ProgramServices>3018747</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>Other expenses - Equipment and furnishings</Description>
        <Total>656872</Total>
        <ProgramServices>518760</ProgramServices>
        <ManagementAndGeneral>136634</ManagementAndGeneral>
        <Fundraising>1478</Fundraising>
      </OtherExpenses>
      <OtherExpenses>
        <Description>Other expenses - Other</Description>
        <Total>2687634</Total>
        <ProgramServices>2140458</ProgramServices>
        <ManagementAndGeneral>528988</ManagementAndGeneral>
        <Fundraising>18188</Fundraising>
      </OtherExpenses>
      <AllOtherExpenses>
        <Total>0</Total>
      </AllOtherExpenses>
      <TotalFunctionalExpenses>
        <Total>119461720</Total>
        <ProgramServices>107169870</ProgramServices>
        <ManagementAndGeneral>10444668</ManagementAndGeneral>
        <Fundraising>1847182</Fundraising>
      </TotalFunctionalExpenses>
      <CashNonInterestBearing>
        <BOY>1273802</BOY>
        <EOY>1454895</EOY>
      </CashNonInterestBearing>
      <SavingsAndTempCashInvestments>
        <BOY>2489854</BOY>
        <EOY>5225346</EOY>
      </SavingsAndTempCashInvestments>
      <PledgesAndGrantsReceivable>
        <BOY>9082573</BOY>
        <EOY>8638113</EOY>
      </PledgesAndGrantsReceivable>
      <OtherNotesLoansReceivableNet>
        <BOY>11651875</BOY>
        <EOY>11851550</EOY>
      </OtherNotesLoansReceivableNet>
      <InventoriesForSaleOrUse>
        <BOY>1715827</BOY>
        <EOY>1649412</EOY>
      </InventoriesForSaleOrUse>
      <PrepaidExpensesDeferredCharges>
        <BOY>681065</BOY>
        <EOY>864715</EOY>
      </PrepaidExpensesDeferredCharges>
      <LandBuildingsEquipmentBasis>271479659</LandBuildingsEquipmentBasis>
      <LandBldgEquipmentAccumDeprec>114064563</LandBldgEquipmentAccumDeprec>
      <LandBuildingsEquipmentBasisNet>
        <BOY>157571754</BOY>
        <EOY>157415096</EOY>
      </LandBuildingsEquipmentBasisNet>
      <InvestmentsPubTradedSecurities>
        <BOY>62664553</BOY>
        <EOY>63101057</EOY>
      </InvestmentsPubTradedSecurities>
      <InvestmentsOtherSecurities>
        <BOY>36609048</BOY>
        <EOY>41241484</EOY>
      </InvestmentsOtherSecurities>
      <TotalAssets>
        <BOY>283740351</BOY>
        <EOY>291441668</EOY>
      </TotalAssets>
      <AccountsPayableAccruedExpenses>
        <BOY>1369486</BOY>
        <EOY>2132874</EOY>
      </AccountsPayableAccruedExpenses>
      <DeferredRevenue>
        <BOY>5201313</BOY>
        <EOY>4770424</EOY>
      </DeferredRevenue>
      <TaxExemptBondLiabilities>
        <BOY>15335000</BOY>
        <EOY>17995000</EOY>
      </TaxExemptBondLiabilities>
      <UnsecuredNotesLoansPayable>
        <BOY>23196261</BOY>
        <EOY>22084423</EOY>
      </UnsecuredNotesLoansPayable>
      <OtherLiabilities>
        <BOY>20960633</BOY>
        <EOY>19428612</EOY>
      </OtherLiabilities>
      <TotalLiabilities>
        <BOY>66062693</BOY>
        <EOY>66411333</EOY>
      </TotalLiabilities>
      <FollowSFAS117>X</FollowSFAS117>
      <UnrestrictedNetAssets>
        <BOY>113044103</BOY>
        <EOY>118040749</EOY>
      </UnrestrictedNetAssets>
      <TemporarilyRestrictedNetAssets>
        <BOY>20290917</BOY>
        <EOY>18967176</EOY>
      </TemporarilyRestrictedNetAssets>
      <PermanentlyRestrictedNetAssets>
        <BOY>84342638</BOY>
        <EOY>88022410</EOY>
      </PermanentlyRestrictedNetAssets>
      <TotalNetAssetsFundBalances>
        <BOY>217677658</BOY>
        <EOY>225030335</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>283740351</BOY>
        <EOY>291441668</EOY>
      </TotalLiabNetAssetsFundBalances>
      <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" softwareId="09000123" softwareVersion="2009.0.12">
      <School170b1Aii>X</School170b1Aii>
      <PublicSupportPertcentage170>0.00000</PublicSupportPertcentage170>
      <PublicSupportPercentage509>0.00000</PublicSupportPercentage509>
      <InvestmentIncomePercentage>0.00000</InvestmentIncomePercentage>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="990B" softwareId="09000123" softwareVersion="2009.0.12">
      <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" softwareId="09000123" softwareVersion="2009.0.12">
      <NumberDAFsHeld>1</NumberDAFsHeld>
      <GrantsPaidFromDonorFunds>13628</GrantsPaidFromDonorFunds>
      <AggregateDAFValue>275044</AggregateDAFValue>
      <DisclosedOrgsLegalControl>true</DisclosedOrgsLegalControl>
      <DisclosedForCharitablePurposes>true</DisclosedForCharitablePurposes>
      <AgentTrusteeEtc>false</AgentTrusteeEtc>
      <IncludedOnFS>false</IncludedOnFS>
      <CurrentYear>
        <BeginningOfYearBalance>81309760</BeginningOfYearBalance>
        <Contributions>3244669</Contributions>
        <InvestmentEarningsOrLosses>7646571</InvestmentEarningsOrLosses>
        <GrantsOrScholarships>4065121</GrantsOrScholarships>
        <AdministrativeExpenses>385194</AdministrativeExpenses>
        <EndOfYearBalance>87750685</EndOfYearBalance>
      </CurrentYear>
      <CurrentYearMinus1Year>
        <BeginningOfYearBalance>100536152</BeginningOfYearBalance>
        <Contributions>4322218</Contributions>
        <InvestmentEarningsOrLosses>-18451712</InvestmentEarningsOrLosses>
        <GrantsOrScholarships>4729624</GrantsOrScholarships>
        <AdministrativeExpenses>367274</AdministrativeExpenses>
        <EndOfYearBalance>81309760</EndOfYearBalance>
      </CurrentYearMinus1Year>
      <BoardDesignatedEOYBalance>0.10400</BoardDesignatedEOYBalance>
      <PermanentEndowmentEOYBalance>0.89600</PermanentEndowmentEOYBalance>
      <EndowmentsHeldByUnrelatedOrgs>true</EndowmentsHeldByUnrelatedOrgs>
      <EndowmentsHeldByRelatedOrgs>false</EndowmentsHeldByRelatedOrgs>
      <Land>
        <OtherCostOrOtherBasis>7322538</OtherCostOrOtherBasis>
        <BookValue>7322538</BookValue>
      </Land>
      <Buildings>
        <OtherCostOrOtherBasis>192793919</OtherCostOrOtherBasis>
        <Depreciation>61873457</Depreciation>
        <BookValue>130920462</BookValue>
      </Buildings>
      <LeaseholdImprovements>
        <OtherCostOrOtherBasis>23573075</OtherCostOrOtherBasis>
        <Depreciation>21428824</Depreciation>
        <BookValue>2144251</BookValue>
      </LeaseholdImprovements>
      <Equipment>
        <OtherCostOrOtherBasis>31924020</OtherCostOrOtherBasis>
        <Depreciation>22262860</Depreciation>
        <BookValue>9661160</BookValue>
      </Equipment>
      <OtherLandBuildings>
        <OtherCostOrOtherBasis>15866107</OtherCostOrOtherBasis>
        <Depreciation>8499422</Depreciation>
        <BookValue>7366685</BookValue>
      </OtherLandBuildings>
      <TotalOfBookValueLandBuildings>157415096</TotalOfBookValueLandBuildings>
      <OtherSecurities>
        <Description>Managed funds</Description>
        <BookValue>30592535</BookValue>
        <MethodOfValuation>C</MethodOfValuation>
      </OtherSecurities>
      <OtherSecurities>
        <Description>Investments in real estate</Description>
        <BookValue>8775023</BookValue>
        <MethodOfValuation>C</MethodOfValuation>
      </OtherSecurities>
      <OtherSecurities>
        <Description>Other investments</Description>
        <BookValue>1873926</BookValue>
        <MethodOfValuation>C</MethodOfValuation>
      </OtherSecurities>
      <TotalOfBookValueSecurities>41241484</TotalOfBookValueSecurities>
      <OtherLiabilities>
        <Description>Payroll deductions payable</Description>
        <Amount>1513597</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>Accrued liabilities</Description>
        <Amount>1844877</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>Deposits and other liabilities</Description>
        <Amount>1186687</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>Reserve for split interest liabilities</Description>
        <Amount>7655157</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>Refundable grants</Description>
        <Amount>6414683</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>Leases payable</Description>
        <Amount>813611</Amount>
      </OtherLiabilities>
      <TotalOfAmounts>19428612</TotalOfAmounts>
      <TotalRevenue>120668098</TotalRevenue>
      <TotalExpenses>119461720</TotalExpenses>
      <ExcessOrDeficitForYear>1206378</ExcessOrDeficitForYear>
      <NetUnrealizedGLOnInvestments>6418935</NetUnrealizedGLOnInvestments>
      <OtherAmount>303665</OtherAmount>
      <TotalAdjustments>6722600</TotalAdjustments>
      <ExcessOrDeficitPerFS>7928978</ExcessOrDeficitPerFS>
      <TotRevenueEtcAuditedFinclStmt>128625111</TotRevenueEtcAuditedFinclStmt>
      <NetUnrealizedGainsInvestments>6418935</NetUnrealizedGainsInvestments>
      <OtherRevenues>1810714</OtherRevenues>
      <RevenueNotRptdF990>8229649</RevenueNotRptdF990>
      <RevenueSubtotal>120395462</RevenueSubtotal>
      <TotalRevenuePerForm990>120395462</TotalRevenuePerForm990>
      <TotExpensesEtcAuditedFinclStmt>120968769</TotExpensesEtcAuditedFinclStmt>
      <OtherExpensesIncluded>1507049</OtherExpensesIncluded>
      <ExpensesNotRptdF990>1507049</ExpensesNotRptdF990>
      <ExpensesSubtotal>119461720</ExpensesSubtotal>
      <TotalExpensesPerForm990>119461720</TotalExpensesPerForm990>
      <Form990ScheduleDPartXIV>
        <Identifier>V</Identifier>
        <ReturnReference>4</ReturnReference>
        <Explanation>The Universitys endowment is intended to further the mission of Harding through scholarships and departmental support.</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
        <Identifier>XII</Identifier>
        <ReturnReference>2d</ReturnReference>
        <Explanation>Effects of audit elimination entries - 329,798, less wholly-owned affiliated entity with revenues of 2,140,512.</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
        <Identifier>VIII</Identifier>
        <ReturnReference>2d</ReturnReference>
        <Explanation>Effects of audit elimination entries less 329,798, plus wholly-owned affiliated entity expenses of 1,836,847.</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
        <Identifier>XI</Identifier>
        <ReturnReference>8</ReturnReference>
        <Explanation>Removal of activitiy of wholly-owned affiliated entity.</Explanation>
      </Form990ScheduleDPartXIV>
    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="990E" softwareId="09000123" softwareVersion="2009.0.12">
      <NondiscriminatoryPolicyStmt>true</NondiscriminatoryPolicyStmt>
      <PolicyStatementInBrochuresEtc>true</PolicyStatementInBrochuresEtc>
      <PolicyPublViaBroadcastMedia>true</PolicyPublViaBroadcastMedia>
      <PubViaBroadcastMediaExpln>Hardings racially nondiscriminatory policy is included in approximately 90,000 brochures mailed annually to junior and senior high school students. Hardings racially nondiscriminatory policy is included in writing on student application forms.</PubViaBroadcastMediaExpln>
      <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>
      <GovtFinancialAidExplanation>Harding receives financial assistance in the form of grants that are funds from governmental agencies.</GovtFinancialAidExplanation>
      <ComplianceWithRevProc7550>true</ComplianceWithRevProc7550>
    </IRS990ScheduleE>
    <IRS990ScheduleF documentId="990F" softwareId="09000123" softwareVersion="2009.0.12">
      <AcctsActvsOutUSTable>
        <Region>Europe</Region>
        <NumberOfOffices>3</NumberOfOffices>
        <NumberOfEmployees>40</NumberOfEmployees>
        <TypeOfActivitiesConducted>Program services</TypeOfActivitiesConducted>
        <SpecificServicesProvided>Educational programs</SpecificServicesProvided>
        <TotalExpenditures>3866715</TotalExpenditures>
      </AcctsActvsOutUSTable>
      <AcctsActvsOutUSTable>
        <Region>South America</Region>
        <NumberOfOffices>1</NumberOfOffices>
        <NumberOfEmployees>4</NumberOfEmployees>
        <TypeOfActivitiesConducted>Program services</TypeOfActivitiesConducted>
        <SpecificServicesProvided>Educational programs</SpecificServicesProvided>
        <TotalExpenditures>547315</TotalExpenditures>
      </AcctsActvsOutUSTable>
      <AcctsActvsOutUSTable>
        <Region>Sub-Saharan Africa</Region>
        <NumberOfOffices>1</NumberOfOffices>
        <NumberOfEmployees>7</NumberOfEmployees>
        <TypeOfActivitiesConducted>Program services</TypeOfActivitiesConducted>
        <SpecificServicesProvided>Educational programs</SpecificServicesProvided>
        <TotalExpenditures>322444</TotalExpenditures>
      </AcctsActvsOutUSTable>
      <AcctsActvsOutUSTable>
        <Region>East Asia and the Pacific</Region>
        <NumberOfOffices>1</NumberOfOffices>
        <NumberOfEmployees>4</NumberOfEmployees>
        <TypeOfActivitiesConducted>Program services</TypeOfActivitiesConducted>
        <SpecificServicesProvided>Educational programs</SpecificServicesProvided>
        <TotalExpenditures>50619</TotalExpenditures>
      </AcctsActvsOutUSTable>
      <TotalNumberOfOffices>6</TotalNumberOfOffices>
      <TotalNumberOfEmployees>55</TotalNumberOfEmployees>
      <TotalAmountSpent>4787093</TotalAmountSpent>
    </IRS990ScheduleF>
    <IRS990ScheduleG documentId="990G" softwareId="09000123" softwareVersion="2009.0.12">
      <EventsInformation>
        <NameOfEvent1>Partnership Dinner</NameOfEvent1>
        <GrossReceiptsEvent1>66705</GrossReceiptsEvent1>
        <GrossRevenueEvent1>66705</GrossRevenueEvent1>
        <FoodAndBeverageEvent1>10000</FoodAndBeverageEvent1>
        <EntertainmentEvent1>10000</EntertainmentEvent1>
        <OtherDirectExpensesEvent1>9558</OtherDirectExpensesEvent1>
        <NameOfEvent2>Leadership Dinner</NameOfEvent2>
        <GrossReceiptsEvent2>14640</GrossReceiptsEvent2>
        <GrossRevenueEvent2>14640</GrossRevenueEvent2>
        <TotalNumberOfOtherEvents>1</TotalNumberOfOtherEvents>
        <GrossReceiptsOtherEvents>17956</GrossReceiptsOtherEvents>
        <GrossRevenueOtherEvents>17956</GrossRevenueOtherEvents>
        <GrossReceiptsTotal>99301</GrossReceiptsTotal>
        <GrossRevenueTotalEvents>99301</GrossRevenueTotalEvents>
        <FoodAndBeverageTotalEvents>10000</FoodAndBeverageTotalEvents>
        <EntertainmentTotalEvents>10000</EntertainmentTotalEvents>
        <OtherDirectExpensesTotalEvents>9558</OtherDirectExpensesTotalEvents>
        <DirectExpenseSummaryEvents>29558</DirectExpenseSummaryEvents>
        <NetIncomeSummary>69743</NetIncomeSummary>
      </EventsInformation>
    </IRS990ScheduleG>
    <IRS990ScheduleI documentId="990I" softwareId="09000123" softwareVersion="2009.0.12">
      <RecordsMaintained>true</RecordsMaintained>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>Champions Church of Christ</BusinessNameLine1>
        </RecipientNameBusiness>
        <AmountOfCashGrant>50000</AmountOfCashGrant>
        <PurposeOfGrant>Mission work</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>Eastside Church of Christ</BusinessNameLine1>
        </RecipientNameBusiness>
        <AmountOfCashGrant>40000</AmountOfCashGrant>
        <PurposeOfGrant>Mission work</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>Westover Hills Church of Christ</BusinessNameLine1>
        </RecipientNameBusiness>
        <AmountOfCashGrant>50000</AmountOfCashGrant>
        <PurposeOfGrant>Mission work</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>Central Church of Christ</BusinessNameLine1>
        </RecipientNameBusiness>
        <AmountOfCashGrant>30000</AmountOfCashGrant>
        <PurposeOfGrant>Mission work</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>Landmark Church of Christ</BusinessNameLine1>
        </RecipientNameBusiness>
        <AmountOfCashGrant>20000</AmountOfCashGrant>
        <PurposeOfGrant>Mission work</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>Hillsboro Church of Christ</BusinessNameLine1>
        </RecipientNameBusiness>
        <AmountOfCashGrant>30000</AmountOfCashGrant>
        <PurposeOfGrant>Mission work</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>Downtown Church of Christ</BusinessNameLine1>
        </RecipientNameBusiness>
        <AmountOfCashGrant>20000</AmountOfCashGrant>
        <PurposeOfGrant>Mission work</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>Cloverdale Church of Christ</BusinessNameLine1>
        </RecipientNameBusiness>
        <AmountOfCashGrant>16000</AmountOfCashGrant>
        <PurposeOfGrant>Mission work</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>Carrolton Church of Christ</BusinessNameLine1>
        </RecipientNameBusiness>
        <AmountOfCashGrant>9085</AmountOfCashGrant>
        <PurposeOfGrant>Mission work</PurposeOfGrant>
      </RecipientTable>
      <TotalNbrOf501C3AndGovtGrants>9</TotalNbrOf501C3AndGovtGrants>
      <Form990ScheduleIPartIII>
        <TypeOfGrant>Scholarships - Higher Education</TypeOfGrant>
        <NumberOfRecipients>5414</NumberOfRecipients>
        <AmountOfCashGrant>23369576</AmountOfCashGrant>
      </Form990ScheduleIPartIII>
      <Form990ScheduleIPartIV>
        <Identifier>I</Identifier>
        <ReturnReference>2</ReturnReference>
        <Explanation>Harding University awards financial assistance to its students on the basis of verified financial need or merit and does not unlawfully discriminate on the basis of race, color, national or ethnic origin, religion, age, sex, disability or prior military service. Financial assistance is monitored so that it is in compliance with awarding terms and conditions. Expenditures are reviewed for allowability and compliance. Students are required to submit appropriate documents prior to approval.</Explanation>
      </Form990ScheduleIPartIV>
      <Form990ScheduleIPartIV>
        <Identifier>III</Identifier>
        <ReturnReference>colc</ReturnReference>
        <Explanation>Cash grants are credits to student accounts.</Explanation>
      </Form990ScheduleIPartIV>
    </IRS990ScheduleI>
    <IRS990ScheduleJ documentId="990J" softwareId="09000123" softwareVersion="2009.0.12">
      <FirstClassOrCharterTravel>X</FirstClassOrCharterTravel>
      <TravelForCompanions>X</TravelForCompanions>
      <IdemnificationGrossUpPayments>X</IdemnificationGrossUpPayments>
      <DiscretionarySpendingAccount>X</DiscretionarySpendingAccount>
      <HousingAllowanceOrResidence>X</HousingAllowanceOrResidence>
      <ClubDuesOrFees>X</ClubDuesOrFees>
      <PersonalServices>X</PersonalServices>
      <WrittenPolicyReTAndEExpenses>true</WrittenPolicyReTAndEExpenses>
      <SubstantiationRequired>false</SubstantiationRequired>
      <CompensationSurvey>X</CompensationSurvey>
      <BoardOrCommitteeApproval>X</BoardOrCommitteeApproval>
      <SeverancePayment>false</SeverancePayment>
      <SupplementalNonqualRetirePlan>false</SupplementalNonqualRetirePlan>
      <EquityBasedCompArrangement>false</EquityBasedCompArrangement>
      <CompBasedOnRevenueOfFilingOrg>false</CompBasedOnRevenueOfFilingOrg>
      <CompBasedOnRevenueRelatedOrgs>false</CompBasedOnRevenueRelatedOrgs>
      <CompBasedNetEarningsFilingOrg>false</CompBasedNetEarningsFilingOrg>
      <CompBasedNetEarningsRelateOrgs>false</CompBasedNetEarningsRelateOrgs>
      <AnyNonFixedPayments>false</AnyNonFixedPayments>
      <InitialContractException>false</InitialContractException>
      <Form990ScheduleJPartII>
        <NamePerson>David B Burks</NamePerson>
        <BaseCompensationFilingOrg>207635</BaseCompensationFilingOrg>
        <OtherCompensationFilingOrg>36500</OtherCompensationFilingOrg>
        <DeferredCompFilingOrg>17709</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>15336</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>277180</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Jim Carr</NamePerson>
        <BaseCompensationFilingOrg>159154</BaseCompensationFilingOrg>
        <OtherCompensationFilingOrg>2323</OtherCompensationFilingOrg>
        <DeferredCompFilingOrg>16366</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>30073</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>207916</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>J Mel Sansom</NamePerson>
        <BaseCompensationFilingOrg>109688</BaseCompensationFilingOrg>
        <OtherCompensationFilingOrg>5312</OtherCompensationFilingOrg>
        <DeferredCompFilingOrg>11144</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>28913</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>155057</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Lewis Finley</NamePerson>
        <BaseCompensationFilingOrg>139157</BaseCompensationFilingOrg>
        <DeferredCompFilingOrg>9737</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>8898</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>157792</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="990K:1" softwareId="09000123" softwareVersion="2009.0.12">
      <Form990ScheduleKPartI>
        <IssuerName>
          <BusinessNameLine1>Public Educational and Residential Housing Facilities Board</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>521595697</IssuerEIN>
        <CUSIPNumber>8122546X2</CUSIPNumber>
        <DateIssued>2010-02-01</DateIssued>
        <IssuePrice>14207054</IssuePrice>
        <DescriptionOfPurpose>Dormitory Renovation and Refunding 12/16/98 6/26/0112/30/03</DescriptionOfPurpose>
        <Defeased>false</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartI>
        <IssuerName>
          <BusinessNameLine1>Public Educational and Residential Housing Facilities Board</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>521595697</IssuerEIN>
        <CUSIPNumber>8122546K0</CUSIPNumber>
        <DateIssued>2005-04-19</DateIssued>
        <IssuePrice>4845000</IssuePrice>
        <DescriptionOfPurpose>Refunding 9/23/99</DescriptionOfPurpose>
        <Defeased>false</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartII>
        <TotalProceeds>14207054</TotalProceeds>
        <AmountInReserveFund>709500</AmountInReserveFund>
        <AmountDefeased>8763536</AmountDefeased>
        <IssuanceCostsFromProceeds>230104</IssuanceCostsFromProceeds>
        <CapitalExpenditures>4503914</CapitalExpenditures>
        <YearOfSubstCompletion>2010</YearOfSubstCompletion>
        <CurrentRefunding>true</CurrentRefunding>
        <AdvanceRefunding>false</AdvanceRefunding>
        <FinalAllocationMade>true</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>true</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartII>
        <TotalProceeds>4845000</TotalProceeds>
        <AmountDefeased>4752499</AmountDefeased>
        <IssuanceCostsFromProceeds>92501</IssuanceCostsFromProceeds>
        <YearOfSubstCompletion>2005</YearOfSubstCompletion>
        <CurrentRefunding>true</CurrentRefunding>
        <AdvanceRefunding>false</AdvanceRefunding>
        <FinalAllocationMade>true</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>true</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
    </IRS990ScheduleK>
    <IRS990ScheduleL documentId="990L" softwareId="09000123" softwareVersion="2009.0.12">
      <LoanTable>
        <NamePerson>Don Lois Shores</NamePerson>
        <PurposeOfLoan>Fund operating expense</PurposeOfLoan>
        <LoanToOrganization>X</LoanToOrganization>
        <OriginalPrincipalAmount>250000</OriginalPrincipalAmount>
        <BalanceDue>250000</BalanceDue>
        <Default>false</Default>
        <ApprovedByBoard>false</ApprovedByBoard>
        <WrittenAgreement>true</WrittenAgreement>
      </LoanTable>
      <LoanTable>
        <NamePerson>Shores Unitrust</NamePerson>
        <PurposeOfLoan>Fund operating expense</PurposeOfLoan>
        <LoanToOrganization>X</LoanToOrganization>
        <OriginalPrincipalAmount>500000</OriginalPrincipalAmount>
        <BalanceDue>500000</BalanceDue>
        <Default>false</Default>
        <ApprovedByBoard>false</ApprovedByBoard>
        <WrittenAgreement>true</WrittenAgreement>
      </LoanTable>
      <LoanTable>
        <NamePerson>Carter Unitrust</NamePerson>
        <PurposeOfLoan>Fund operating expense</PurposeOfLoan>
        <LoanToOrganization>X</LoanToOrganization>
        <OriginalPrincipalAmount>997775</OriginalPrincipalAmount>
        <BalanceDue>997775</BalanceDue>
        <Default>false</Default>
        <ApprovedByBoard>false</ApprovedByBoard>
        <WrittenAgreement>true</WrittenAgreement>
      </LoanTable>
      <TotalBalanceDue>1747775</TotalBalanceDue>
      <Form990ScheduleLPartIII>
        <NameOfInterestedPerson>Interested Persons</NameOfInterestedPerson>
        <RelationshipWithOrganization>Family members of Interested Persons</RelationshipWithOrganization>
        <TypeOfAssistance>Tuition discount</TypeOfAssistance>
      </Form990ScheduleLPartIII>
      <Form990ScheduleLPartIII>
        <NameOfInterestedPerson>Interested Persons</NameOfInterestedPerson>
        <RelationshipWithOrganization>Family members of Interested Persons</RelationshipWithOrganization>
        <TypeOfAssistance>Merit-based scholarships</TypeOfAssistance>
      </Form990ScheduleLPartIII>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NameBusiness>
            <BusinessNameLine1>Market Properties LLC</BusinessNameLine1>
          </NameBusiness>
        </NameOfInterestedPerson>
        <Relationship>Owned by Board Member</Relationship>
        <AmountOfTransaction>910189</AmountOfTransaction>
        <DescriptionOfTransaction>Purchased property</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NameBusiness>
            <BusinessNameLine1>First Security Bank</BusinessNameLine1>
          </NameBusiness>
        </NameOfInterestedPerson>
        <Relationship>President on Board</Relationship>
        <AmountOfTransaction>82131</AmountOfTransaction>
        <DescriptionOfTransaction>Interest bank fees</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
    </IRS990ScheduleL>
    <IRS990ScheduleM documentId="990M" softwareId="09000123" softwareVersion="2009.0.12">
      <SecuritiesPubliclyTraded>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>22</NumberOfContributions>
        <NoncashContribsRptdF990>471594</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>FMV</MethodOfDeterminingRevenues>
      </SecuritiesPubliclyTraded>
      <RealEstateOther>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>1</NumberOfContributions>
        <NoncashContribsRptdF990>30000</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>Appraisal</MethodOfDeterminingRevenues>
      </RealEstateOther>
      <OtherNonCashContributionsTable>
        <NonCashCheckbox>X</NonCashCheckbox>
        <Description>Insurance</Description>
        <NumberOfContributions>1</NumberOfContributions>
        <NoncashContribsRptdF990>21255</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>Cash surrender value</MethodOfDeterminingRevenues>
      </OtherNonCashContributionsTable>
      <OtherNonCashContributionsTable>
        <NonCashCheckbox>X</NonCashCheckbox>
        <Description>Loan forgiveness</Description>
        <NumberOfContributions>1</NumberOfContributions>
        <NoncashContribsRptdF990>10000</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>Value of debt forgiven</MethodOfDeterminingRevenues>
      </OtherNonCashContributionsTable>
      <OtherNonCashContributionsTable>
        <NonCashCheckbox>X</NonCashCheckbox>
        <Description>Termite treatment</Description>
        <NumberOfContributions>1</NumberOfContributions>
        <NoncashContribsRptdF990>3700</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>FMV</MethodOfDeterminingRevenues>
      </OtherNonCashContributionsTable>
      <OtherNonCashContributionsTable>
        <NonCashCheckbox>X</NonCashCheckbox>
        <Description>HDTV Install</Description>
        <NumberOfContributions>1</NumberOfContributions>
        <NoncashContribsRptdF990>2298</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>FMV</MethodOfDeterminingRevenues>
      </OtherNonCashContributionsTable>
      <AnyPropertyThatMustBeHeld>false</AnyPropertyThatMustBeHeld>
      <ReviewProcessUnusualNCGifts>false</ReviewProcessUnusualNCGifts>
      <ThirdPartiesUsed>false</ThirdPartiesUsed>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="990O" softwareId="09000123" softwareVersion="2009.0.12">
      <GeneralExplanation>
        <Identifier>Form 990 VI</Identifier>
        <ReturnReference>11A</ReturnReference>
        <Explanation>All board members received a copy of Harding Universitys completed Form 990 for review via e-mail.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990 VI</Identifier>
        <ReturnReference>12c</ReturnReference>
        <Explanation>All board members and officers complete a conflict of interest questionnaire annually. Depending on the potential conflict or conditions, restrictions are enforced to reduce or eliminate the conflict of interest.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990 VI</Identifier>
        <ReturnReference>19</ReturnReference>
        <Explanation>Harding University governing documents and conflict of interest policy are available upon request.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990 Part III Program Service Accomplishments</Identifier>
        <ReturnReference>Line 4d Other Activities</ReturnReference>
        <Explanation>Program Service Expenses 6,842,615, Grants and allocations 0, Revenue 0 Other expenses include program expenses for auxiliary operations and public service.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Schedule E Form 990 or 990-EZ Financial Aid or Government Assistance</Identifier>
        <ReturnReference>Line 6a The org receives aid, Line 6b The org has had their aid revoked or suspended.</ReturnReference>
        <Explanation>Harding receives financial assistance in the form of grants that are funds from governmental agencies.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="990R" softwareId="09000123" softwareVersion="2009.0.12">
      <Form990ScheduleRPartI>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>Mediterranean Investment Properties LLC</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>123 Black Oak Place</AddressLine1>
          <City>Searcy</City>
          <State>AR</State>
          <ZIPCode>72143</ZIPCode>
        </AddressUS>
        <EIN>272348256</EIN>
        <PrimaryActivities>Real estate investments</PrimaryActivities>
        <LegalDomicileState>AR</LegalDomicileState>
        <TotalIncome>-753</TotalIncome>
        <EOYAssets>931113</EOYAssets>
        <DirectControllingEntityName>
          <BusinessNameLine1>Harding University Inc</BusinessNameLine1>
        </DirectControllingEntityName>
      </Form990ScheduleRPartI>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>Harding Place Inc</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>800 S Benton</AddressLine1>
          <City>Searcy</City>
          <State>AR</State>
          <ZIPCode>72143</ZIPCode>
        </AddressUS>
        <EIN>710780709</EIN>
        <PrimaryActivities>Retirement Community</PrimaryActivities>
        <LegalDomicileState>AR</LegalDomicileState>
        <ExemptCodeSection>509a2</ExemptCodeSection>
        <PublicCharityStatus>9</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>Harding University Inc</BusinessNameLine1>
        </DirectControllingEntityName>
      </Form990ScheduleRPartII>
      <ReceiptOfIntAnnRentsRoyalties>false</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>false</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>true</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>true</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>false</LoansOrGuaranteesFromOtherOrg>
      <SaleOfAssetsToOtherOrg>false</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>false</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>false</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>true</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>false</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>false</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>false</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>true</SharingOfFacilities>
      <SharingOfPaidEmployees>false</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>false</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>true</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>false</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>false</OtherTransferFromOtherOrg>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>Harding Place</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>c</TransactionType>
        <AmountInvolved>400000</AmountInvolved>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>Harding Place</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>d</TransactionType>
        <AmountInvolved>5405000</AmountInvolved>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>Harding Place</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>i</TransactionType>
        <AmountInvolved>67990</AmountInvolved>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>Harding Place</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>m</TransactionType>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>Harding Place</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>p</TransactionType>
        <AmountInvolved>564000</AmountInvolved>
      </TransactionsRelatedOrgsTable>
    </IRS990ScheduleR>
  </ReturnData>
</Return>