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      <AccountantCompileOrReview>0</AccountantCompileOrReview>
      <FSAudited>0</FSAudited>
      <FederalGrantAuditRequired>0</FederalGrantAuditRequired>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc1039100001">
      <School170b1Aii>X</School170b1Aii>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <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="RetDoc1040000001">
      <Land>
        <InvestmentCostOrOtherBasis>4224861</InvestmentCostOrOtherBasis>
        <BookValue>4224861</BookValue>
      </Land>
      <Buildings>
        <InvestmentCostOrOtherBasis>16441943</InvestmentCostOrOtherBasis>
        <Depreciation>7032623</Depreciation>
        <BookValue>9409320</BookValue>
      </Buildings>
      <Equipment>
        <InvestmentCostOrOtherBasis>3553757</InvestmentCostOrOtherBasis>
        <Depreciation>3019285</Depreciation>
        <BookValue>534472</BookValue>
      </Equipment>
      <TotalOfBookValueLandBuildings>14168653</TotalOfBookValueLandBuildings>
      <OtherSecurities>
        <Description>Securities and other investments</Description>
        <BookValue>1951331</BookValue>
        <MethodOfValuation>F</MethodOfValuation>
      </OtherSecurities>
      <TotalOfBookValueSecurities>1951331</TotalOfBookValueSecurities>
      <TotalRevenue>12714715</TotalRevenue>
      <TotalExpenses>12493853</TotalExpenses>
      <ExcessOrDeficitForYear>220862</ExcessOrDeficitForYear>
      <ExcessOrDeficitPerFS>220862</ExcessOrDeficitPerFS>
    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="RetDoc1040400001">
      <NondiscriminatoryPolicyStmt>1</NondiscriminatoryPolicyStmt>
      <PolicyStatementInBrochuresEtc>1</PolicyStatementInBrochuresEtc>
      <PolicyPublViaBroadcastMedia>1</PolicyPublViaBroadcastMedia>
      <PubViaBroadcastMediaExpln>FAMILY FUN SPOTS M M GRAPHICS MEMPHIS BUSINESS JOURNAL WKNO - TV MID SOUTH family GERMANTOWN NEWS MOST BOTT RADIO NETWORK MEMPHIS REDBIRDS THEATRE MEMPHIS AT&amp;T ADVERTISING CBS OUTDOORS MEMPHIS MAGAZINE MEMPHIS SPORTS ON THE BALL, INC. Jabberblabber kids link magazine Legacy publishing medibag company suburban community The best time metro-marketing</PubViaBroadcastMediaExpln>
      <MaintRacialCompositionRecords>1</MaintRacialCompositionRecords>
      <MaintScholarshipsRecords>1</MaintScholarshipsRecords>
      <MaintCopiesOfBrochuresEtc>1</MaintCopiesOfBrochuresEtc>
      <MaintCopiesOfAllSolicitations>1</MaintCopiesOfAllSolicitations>
      <DiscriminateRaceStudentsRights>0</DiscriminateRaceStudentsRights>
      <DiscriminateRaceAdmissPolicies>0</DiscriminateRaceAdmissPolicies>
      <DiscriminateRaceEmplmnFaculty>0</DiscriminateRaceEmplmnFaculty>
      <DiscriminateRaceScholarships>0</DiscriminateRaceScholarships>
      <DiscriminateRaceEducPolicies>0</DiscriminateRaceEducPolicies>
      <DiscriminateRaceUseOfFclts>0</DiscriminateRaceUseOfFclts>
      <DiscriminateRaceAthleticProg>0</DiscriminateRaceAthleticProg>
      <DiscriminateRaceOtherActy>0</DiscriminateRaceOtherActy>
      <GovernmentFinancialAidReceived>0</GovernmentFinancialAidReceived>
      <GovernmentFinancialAidRevoked>0</GovernmentFinancialAidRevoked>
      <ComplianceWithRevProc7550>1</ComplianceWithRevProc7550>
    </IRS990ScheduleE>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Section B, line 11</Identifier>
        <Explanation>The form 990 is prepared by a CPA firm, reviewed by the Finance Committee of the Board, and reviewed by the entire Board before it is filed with the IRS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Section B, line 12c</Identifier>
        <Explanation>Potential conflicts are identiifed by the organization's operations and through disclosure from officers and board members. Potential conflicts are evaluated and the results are reported to the Board.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Section B, line 15</Identifier>
        <Explanation>Officers' compensation are compared to local peer group surveys, supported by performance reviews and approved by the Board.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Section C, line 19</Identifier>
        <Explanation>The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>