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        <PersonNm>JERRY THACKER</PersonNm>
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        <PersonNm>RONALD WILLIAMS</PersonNm>
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      <Form990PartVIISectionAGrp>
        <PersonNm>DR STEVEN CRAMER</PersonNm>
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      <Form990PartVIISectionAGrp>
        <PersonNm>DR GREGG CHENOWETH</PersonNm>
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      <Form990PartVIISectionAGrp>
        <PersonNm>TERRY ZEITLOW</PersonNm>
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      <Form990PartVIISectionAGrp>
        <PersonNm>BARB BELLEFEUILLE</PersonNm>
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      <Form990PartVIISectionAGrp>
        <PersonNm>CLAIR KNAPP</PersonNm>
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        <PersonNm>SHAWN HOLTGREN</PersonNm>
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      <Form990PartVIISectionAGrp>
        <PersonNm>TONI PAULS</PersonNm>
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      <Form990PartVIISectionAGrp>
        <PersonNm>DR DENNIS ENGBRECHT</PersonNm>
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      <FormerOfcrEmployeesListedInd>false</FormerOfcrEmployeesListedInd>
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      <CompensationFromOtherSrcsInd>false</CompensationFromOtherSrcsInd>
      <ContractorCompensationGrp>
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        <ContractorAddress>
          <USAddress>
            <AddressLine1>4880 PAYSPHERE CIRCLE</AddressLine1>
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            <State>IL</State>
            <ZIPCode>60674</ZIPCode>
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      <ContractorCompensationGrp>
        <ContractorName>
          <PersonNm>GRACE COLLEGE SEMINARY</PersonNm>
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        <ContractorAddress>
          <USAddress>
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            <State>IN</State>
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      <ContractorCompensationGrp>
        <ContractorName>
          <PersonNm>JENZABAR INC</PersonNm>
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        <ContractorAddress>
          <USAddress>
            <AddressLine1>PO BOX 845939</AddressLine1>
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            <State>MA</State>
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      <ContractorCompensationGrp>
        <ContractorName>
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          <USAddress>
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      <ContractorCompensationGrp>
        <ContractorName>
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          <USAddress>
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            <State>IN</State>
            <ZIPCode>46601</ZIPCode>
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      <ProgramServiceRevenueGrp>
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      <ProgramServiceRevenueGrp>
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        <RelatedOrExemptFuncIncomeAmt>742374</RelatedOrExemptFuncIncomeAmt>
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      <RoyaltiesRevenueGrp>
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      <RentalIncomeOrLossGrp>
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        <PersonalAmt>0</PersonalAmt>
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      <NetRentalIncomeOrLossGrp>
        <TotalRevenueColumnAmt>0</TotalRevenueColumnAmt>
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        <OtherAmt>336720</OtherAmt>
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        <ExclusionAmt>-13304</ExclusionAmt>
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      <BenefitsToMembersGrp>
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        <FundraisingAmt>224302</FundraisingAmt>
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        <FundraisingAmt>37810</FundraisingAmt>
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      <FeesForServicesManagementGrp>
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      <FeesForServicesLegalGrp>
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        <ManagementAndGeneralAmt>46027</ManagementAndGeneralAmt>
      </FeesForServicesLegalGrp>
      <FeesForServicesAccountingGrp>
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        <ManagementAndGeneralAmt>37704</ManagementAndGeneralAmt>
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      <FeesForServicesLobbyingGrp>
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      <FeesForServicesProfFundraising>
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      <FeesForSrvcInvstMgmntFeesGrp>
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        <ManagementAndGeneralAmt>46469</ManagementAndGeneralAmt>
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        <ProgramServicesAmt>2866960</ProgramServicesAmt>
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        <FundraisingAmt>124906</FundraisingAmt>
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        <ProgramServicesAmt>528422</ProgramServicesAmt>
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        <FundraisingAmt>46980</FundraisingAmt>
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        <FundraisingAmt>5911</FundraisingAmt>
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        <ProgramServicesAmt>9750</ProgramServicesAmt>
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        <EOYAmt>470431</EOYAmt>
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        <EOYAmt>0</EOYAmt>
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        <EOYAmt>0</EOYAmt>
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        <EOYAmt>0</EOYAmt>
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        <EOYAmt>9282714</EOYAmt>
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        <EOYAmt>0</EOYAmt>
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        <EOYAmt>0</EOYAmt>
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        <EOYAmt>51060434</EOYAmt>
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        <EOYAmt>5988149</EOYAmt>
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        <EOYAmt>0</EOYAmt>
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        <EOYAmt>2526411</EOYAmt>
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      <TaxExemptBondLiabilitiesGrp>
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        <EOYAmt>17822665</EOYAmt>
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      <EscrowAccountLiabilityGrp>
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        <EOYAmt>0</EOYAmt>
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      <LoansFromOfficersDirectorsGrp>
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        <EOYAmt>0</EOYAmt>
      </LoansFromOfficersDirectorsGrp>
      <MortgNotesPyblScrdInvstPropGrp>
        <BOYAmt>170022</BOYAmt>
        <EOYAmt>69896</EOYAmt>
      </MortgNotesPyblScrdInvstPropGrp>
      <UnsecuredNotesLoansPayableGrp>
        <BOYAmt>977993</BOYAmt>
        <EOYAmt>929588</EOYAmt>
      </UnsecuredNotesLoansPayableGrp>
      <OtherLiabilitiesGrp>
        <BOYAmt>1043475</BOYAmt>
        <EOYAmt>1099673</EOYAmt>
      </OtherLiabilitiesGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>26206850</BOYAmt>
        <EOYAmt>28436382</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrganizationFollowsSFAS117Ind>X</OrganizationFollowsSFAS117Ind>
      <UnrestrictedNetAssetsGrp>
        <BOYAmt>14549889</BOYAmt>
        <EOYAmt>10709003</EOYAmt>
      </UnrestrictedNetAssetsGrp>
      <TemporarilyRstrNetAssetsGrp>
        <BOYAmt>2498677</BOYAmt>
        <EOYAmt>4409570</EOYAmt>
      </TemporarilyRstrNetAssetsGrp>
      <PermanentlyRstrNetAssetsGrp>
        <BOYAmt>7226743</BOYAmt>
        <EOYAmt>7505479</EOYAmt>
      </PermanentlyRstrNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>24275309</BOYAmt>
        <EOYAmt>22624052</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>50482159</BOYAmt>
        <EOYAmt>51060434</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <InfoInScheduleOPartXIInd>X</InfoInScheduleOPartXIInd>
      <ReconcilationRevenueExpnssAmt>-2435933</ReconcilationRevenueExpnssAmt>
      <NetUnrlzdGainsLossesInvstAmt>976001</NetUnrlzdGainsLossesInvstAmt>
      <OtherChangesInNetAssetsAmt>-191325</OtherChangesInNetAssetsAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
      <FSAuditedInd>true</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>true</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>true</FederalGrantAuditRequiredInd>
      <FederalGrantAuditPerformedInd>true</FederalGrantAuditPerformedInd>
    </IRS990>
    <IRS990ScheduleA documentId="IRS990ScheduleA">
      <SchoolInd>X</SchoolInd>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="IRS990ScheduleB">
      <ContributorInformationGrp>
        <ContributorNum>RESTRICTED</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorUSAddress>
        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <IRS990ScheduleD documentId="IRS990ScheduleD">
      <ArtPublicExhibitionAmountsGrp />
      <HeldWorksArtGrp />
      <CYEndwmtFundGrp>
        <BeginningYearBalanceAmt>9099124</BeginningYearBalanceAmt>
        <ContributionsAmt>256572</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>1242642</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>128468</GrantsOrScholarshipsAmt>
        <OtherExpendituresAmt>100500</OtherExpendituresAmt>
        <EndYearBalanceAmt>10369370</EndYearBalanceAmt>
      </CYEndwmtFundGrp>
      <CYMinus1YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>8174499</BeginningYearBalanceAmt>
        <ContributionsAmt>378714</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>828532</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>190971</GrantsOrScholarshipsAmt>
        <OtherExpendituresAmt>91650</OtherExpendituresAmt>
        <EndYearBalanceAmt>9099124</EndYearBalanceAmt>
      </CYMinus1YrEndwmtFundGrp>
      <CYMinus2YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>7723311</BeginningYearBalanceAmt>
        <ContributionsAmt>754596</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>-67588</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>140669</GrantsOrScholarshipsAmt>
        <OtherExpendituresAmt>95151</OtherExpendituresAmt>
        <EndYearBalanceAmt>8174499</EndYearBalanceAmt>
      </CYMinus2YrEndwmtFundGrp>
      <CYMinus3YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>7200372</BeginningYearBalanceAmt>
        <ContributionsAmt>315481</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>479532</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>181174</GrantsOrScholarshipsAmt>
        <OtherExpendituresAmt>90900</OtherExpendituresAmt>
        <EndYearBalanceAmt>7723311</EndYearBalanceAmt>
      </CYMinus3YrEndwmtFundGrp>
      <CYMinus4YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>4561226</BeginningYearBalanceAmt>
        <ContributionsAmt>2409178</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>247602</InvestmentEarningsOrLossesAmt>
        <GrantsOrScholarshipsAmt>11815</GrantsOrScholarshipsAmt>
        <OtherExpendituresAmt>5819</OtherExpendituresAmt>
        <EndYearBalanceAmt>7200372</EndYearBalanceAmt>
      </CYMinus4YrEndwmtFundGrp>
      <BoardDesignatedBalanceEOYPct>0.22000</BoardDesignatedBalanceEOYPct>
      <PrmnntEndowmentBalanceEOYPct>0.56000</PrmnntEndowmentBalanceEOYPct>
      <TermEndowmentBalanceEOYPct>0.22000</TermEndowmentBalanceEOYPct>
      <EndowmentsHeldUnrelatedOrgInd>true</EndowmentsHeldUnrelatedOrgInd>
      <EndowmentsHeldRelatedOrgInd>false</EndowmentsHeldRelatedOrgInd>
      <LandGrp>
        <OtherCostOrOtherBasisAmt>3203732</OtherCostOrOtherBasisAmt>
        <BookValueAmt>3203732</BookValueAmt>
      </LandGrp>
      <BuildingsGrp>
        <OtherCostOrOtherBasisAmt>51484689</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>22592818</DepreciationAmt>
        <BookValueAmt>28891871</BookValueAmt>
      </BuildingsGrp>
      <LeaseholdImprovementsGrp />
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>9437409</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>7954184</DepreciationAmt>
        <BookValueAmt>1483225</BookValueAmt>
      </EquipmentGrp>
      <OtherLandBuildingsGrp>
        <OtherCostOrOtherBasisAmt>76325</OtherCostOrOtherBasisAmt>
        <BookValueAmt>76325</BookValueAmt>
      </OtherLandBuildingsGrp>
      <TotalBookValueLandBuildingsAmt>33655153</TotalBookValueLandBuildingsAmt>
      <FederalIncomeTaxLiabilityAmt>0</FederalIncomeTaxLiabilityAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>ANNUITIES PAYABLE</Desc>
        <Amt>860954</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>AND OTHER LIABILITIES</Desc>
        <Amt>238719</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>1099673</TotalLiabilityAmt>
      <TotalRevEtcAuditedFinclStmtAmt>32673221</TotalRevEtcAuditedFinclStmtAmt>
      <NetUnrealizedGainsInvstAmt>976001</NetUnrealizedGainsInvstAmt>
      <OtherRevenueAmt>16069</OtherRevenueAmt>
      <RevenueNotReportedAmt>992070</RevenueNotReportedAmt>
      <RevenueSubtotalAmt>31681151</RevenueSubtotalAmt>
      <OtherRevenuesNotIncludedAmt>10442216</OtherRevenuesNotIncludedAmt>
      <RevenueNotReportedFinclStmtAmt>10442216</RevenueNotReportedFinclStmtAmt>
      <TotalRevenuePerForm990Amt>42123367</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>34324478</TotExpnsEtcAuditedFinclStmtAmt>
      <OtherExpensesIncludedAmt>16069</OtherExpensesIncludedAmt>
      <ExpensesNotReportedAmt>16069</ExpensesNotReportedAmt>
      <ExpensesSubtotalAmt>34308409</ExpensesSubtotalAmt>
      <OtherExpensesNotIncludedAmt>10250891</OtherExpensesNotIncludedAmt>
      <ExpensesNotRptFinclStmtAmt>10250891</ExpensesNotRptFinclStmtAmt>
      <TotalExpensesPerForm990Amt>44559300</TotalExpensesPerForm990Amt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART V</FormAndLineReferenceDesc>
        <ExplanationTxt>ENDOWMENT FUNDS THE INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS ARE FOR THE FUNDING OF STUDENT SCHOLARSHIPS, THE FUNDING OF THE LIBRARY, MUSEUM, ARCHIVES &amp; PHILOSOPHY DEPARTMENT, FACULTY ENRICHMENT AND GENERAL OPERATIONS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XI</FormAndLineReferenceDesc>
        <ExplanationTxt>LINE 2D FUNDRAISING EXPENSE $16,069 LINE 4B SCHOLARSHIPS 10,250,891 UNREALIZED LOSS ON INTEREST RATE SWAP 191,325 TOTAL $10,442,216</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XII</FormAndLineReferenceDesc>
        <ExplanationTxt>LINE 2D FUNDRAISING EXPENSE $16,069 LINE 4B SCHOLARSHIPS $10,250,891</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="IRS990ScheduleE">
      <NondiscriminatoryPolicyStmtInd>true</NondiscriminatoryPolicyStmtInd>
      <PolicyStmtInBrochuresEtcInd>true</PolicyStmtInBrochuresEtcInd>
      <PlcyPblczdViaBroadcastMediaInd>true</PlcyPblczdViaBroadcastMediaInd>
      <MaintainRacialCompRecsInd>true</MaintainRacialCompRecsInd>
      <MaintainScholarshipsRecsInd>true</MaintainScholarshipsRecsInd>
      <MaintainCpyOfBrochuresEtcInd>true</MaintainCpyOfBrochuresEtcInd>
      <MaintainCpyOfAllSolInd>true</MaintainCpyOfAllSolInd>
      <DiscriminateRaceStdntsRghtsInd>false</DiscriminateRaceStdntsRghtsInd>
      <DiscriminateRaceAdmissPlcyInd>false</DiscriminateRaceAdmissPlcyInd>
      <DiscriminateRaceEmplmFcultyInd>false</DiscriminateRaceEmplmFcultyInd>
      <DiscriminateRaceSchsInd>false</DiscriminateRaceSchsInd>
      <DiscriminateRaceEducPlcyInd>false</DiscriminateRaceEducPlcyInd>
      <DiscriminateRaceUseOfFcltsInd>false</DiscriminateRaceUseOfFcltsInd>
      <DiscriminateRaceAthltProgInd>false</DiscriminateRaceAthltProgInd>
      <DiscriminateRaceOtherActyInd>false</DiscriminateRaceOtherActyInd>
      <GovernmentFinancialAidRcvdInd>true</GovernmentFinancialAidRcvdInd>
      <GovernmentFinancialAidRvkdInd>false</GovernmentFinancialAidRvkdInd>
      <ComplianceWithRevProc7550Ind>true</ComplianceWithRevProc7550Ind>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>LINE 3</FormAndLineReferenceDesc>
        <ExplanationTxt>THIS POLICY IS DESCRIBED IN THE COLLEGE CATALOG WITHIN THE CONTEXT OF ITS RELIGIOUS PRINCIPLES, HERITAGE, AND MISSION. BETHEL COLLEGE ADMITS STUDENTS OF ANY RACE, NATIONAL OR ETHNIC ORIGIN, AGE OR GENDER, TO ITS PROGRAMS AND ACTIVITIES. IT DOES NOT DISCRIMINATE IN THE ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSION POLICIES, SCHOLARSHIP AND LOAN PROGRAMS, ATHLETIC PROGRAMS, OR OTHER COLLEGE ADMINISTERED PROGRAMS. THE COLLEGE MAKES EVERY REASONABLE ATTEMPT TO ACCOMODATE STUDENTS WITH LIMITING PHYSICAL IMPAIRMENTS. HOWEVER, EACH DIVISION RESERVES THE RIGHT TO EXAMINE APPLICANTS FOR SUITABILITY FOR PARTICIPATION IN THE EDUCATIONAL LEVELS OF THE DIVISION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>THE COLLEGE RECEIVES FINANCIAL ASSISTANCE FROM THE DEPARTMENT OF EDUCATION IN THE FORM OF TITLE IV FUNDS, PELL GRANTS, FEDERAL SUPPLEMENTAL EDUCATION OPPORTUNITY GRANTS, FEDERAL WORK STUDY, PERKINS LOANS FUNDS, FEDERAL FAMILY EDUCATION LOANS, ETC. THE COLLEGE ALSO RECEIVES FINANCIAL AID FROM THE STATE STUDENT ASSISTANCE COMMISSION OF INDIANA IN GRANTS. THESE GRANTS INCLUDE HIGHER EDUCATION AWARDS, FREEDOM OF CHOICE AWARDS AND 21ST CENTURY AWARDS. AID HAS NOT BEEN SUSPENDED OR REVOKED.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleE>
    <IRS990ScheduleF documentId="IRS990ScheduleF">
      <AccountActivitiesOutsideUSGrp>
        <RegionTxt>Central America and the Caribbean</RegionTxt>
        <OfficesCnt>1</OfficesCnt>
        <EmployeeCnt>4</EmployeeCnt>
        <TypeOfActivitiesConductedTxt>Program Services</TypeOfActivitiesConductedTxt>
        <SpecificServicesProvidedTxt>EDUCATIONAL PROGRAMS</SpecificServicesProvidedTxt>
        <RegionTotalExpendituresAmt>77724</RegionTotalExpendituresAmt>
      </AccountActivitiesOutsideUSGrp>
      <AccountActivitiesOutsideUSGrp>
        <RegionTxt>Sub-Saharan Africa</RegionTxt>
        <OfficesCnt>1</OfficesCnt>
        <EmployeeCnt>2</EmployeeCnt>
        <TypeOfActivitiesConductedTxt>Program Services</TypeOfActivitiesConductedTxt>
        <SpecificServicesProvidedTxt>EDUCATIONAL PROGRAMS</SpecificServicesProvidedTxt>
        <RegionTotalExpendituresAmt>28308</RegionTotalExpendituresAmt>
      </AccountActivitiesOutsideUSGrp>
      <SubtotalOfficesCnt>2</SubtotalOfficesCnt>
      <SubtotalEmployeesCnt>6</SubtotalEmployeesCnt>
      <TotalOfficeCnt>2</TotalOfficeCnt>
      <TotalEmployeeCnt>6</TotalEmployeeCnt>
      <SubtotalSpentAmt>106032</SubtotalSpentAmt>
      <TotalSpentAmt>106032</TotalSpentAmt>
      <TransferToForeignCorpInd>false</TransferToForeignCorpInd>
      <InterestInForeignTrustInd>false</InterestInForeignTrustInd>
      <ForeignCorpOwnershipInd>false</ForeignCorpOwnershipInd>
      <PassiveForeignInvestmestCoInd>false</PassiveForeignInvestmestCoInd>
      <ForeignPartnershipInd>false</ForeignPartnershipInd>
      <BoycottCountriesInd>false</BoycottCountriesInd>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 2</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION TRACKS ALL FOREIGN STUDY EXPENDITURES USING THE ACCRUAL BASIS OF ACCOUNTING.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleF>
    <IRS990ScheduleG documentId="IRS990ScheduleG">
      <FundraisingEventInformationGrp>
        <NameOfEvent1Amt>GOLF OUTING</NameOfEvent1Amt>
        <GrossReceiptsEvent1Amt>18737</GrossReceiptsEvent1Amt>
        <CharitableContriEvent1Amt>15972</CharitableContriEvent1Amt>
        <GrossRevenueEvent1Amt>2765</GrossRevenueEvent1Amt>
        <RentFacilityCostsEvent1Amt>4320</RentFacilityCostsEvent1Amt>
        <FoodAndBeverageEvent1Amt>2709</FoodAndBeverageEvent1Amt>
        <NameOfEvent2Amt>SCHOL. DINNER</NameOfEvent2Amt>
        <GrossReceiptsEvent2Amt>88350</GrossReceiptsEvent2Amt>
        <CharitableContriEvent2Amt>88350</CharitableContriEvent2Amt>
        <OtherDirectExpensesEvent2Amt>9040</OtherDirectExpensesEvent2Amt>
        <OtherEventsTotalCnt>0</OtherEventsTotalCnt>
        <GrossReceiptsTotalAmt>107087</GrossReceiptsTotalAmt>
        <CharitableContributionsTotAmt>104322</CharitableContributionsTotAmt>
        <GrossRevenueTotalEventsAmt>2765</GrossRevenueTotalEventsAmt>
        <RentFcltyCostsTotalEventsAmt>4320</RentFcltyCostsTotalEventsAmt>
        <FoodAndBeverageTotalEventsAmt>2709</FoodAndBeverageTotalEventsAmt>
        <OthDirectExpnssTotalEventsAmt>9040</OthDirectExpnssTotalEventsAmt>
        <DirectExpenseSummaryEventsAmt>16069</DirectExpenseSummaryEventsAmt>
        <NetIncomeSummaryAmt>-13304</NetIncomeSummaryAmt>
      </FundraisingEventInformationGrp>
    </IRS990ScheduleG>
    <IRS990ScheduleI documentId="IRS990ScheduleI">
      <GrantRecordsMaintainedInd>true</GrantRecordsMaintainedInd>
      <GrantsOtherAsstToIndivInUSGrp>
        <GrantTypeTxt>ACADEMIC SCHOLARSHIPS</GrantTypeTxt>
        <RecipientCnt>1026</RecipientCnt>
        <CashGrantAmt>10250891</CashGrantAmt>
      </GrantsOtherAsstToIndivInUSGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 2</FormAndLineReferenceDesc>
        <ExplanationTxt>SCHOLARSHIP RECIPIENTS ARE SELECTED BASED ON ESTABLISHED MERIT AND NEED BASED CRITERIA. THE FINANCIAL AID DIRECTOR AND ACADEMIC DEPARTMENT HEADS WORK TOGETHER TO SELECT RECIPIENTS OF IN-HOUSE SCHOLARSHIPS. QUALIFICATIONS FOR SCHOLARSHIPS VARY. ALL SCHOLARSHIPS ARE MONITORED BY THE FINANCIAL AID DEPARTMENT AND ARE APPLIED DIRECTLY TO STUDENT ACCOUNTS.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleI>
    <IRS990ScheduleJ documentId="IRS990ScheduleJ">
      <HousingAllowanceOrResidenceInd>X</HousingAllowanceOrResidenceInd>
      <WrittenPolicyRefTAndEExpnssInd>true</WrittenPolicyRefTAndEExpnssInd>
      <SubstantiationRequiredInd>true</SubstantiationRequiredInd>
      <WrittenEmploymentContractInd>X</WrittenEmploymentContractInd>
      <CompensationSurveyInd>X</CompensationSurveyInd>
      <BoardOrCommitteeApprovalInd>X</BoardOrCommitteeApprovalInd>
      <SeverancePaymentInd>false</SeverancePaymentInd>
      <SupplementalNonqualRtrPlanInd>false</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>false</EquityBasedCompArrngmInd>
      <CompBasedOnRevenueOfFlngOrgInd>false</CompBasedOnRevenueOfFlngOrgInd>
      <CompBsdOnRevRelatedOrgsInd>false</CompBsdOnRevRelatedOrgsInd>
      <CompBsdNetEarnsFlngOrgInd>false</CompBsdNetEarnsFlngOrgInd>
      <CompBsdNetEarnsRltdOrgsInd>false</CompBsdNetEarnsRltdOrgsInd>
      <AnyNonFixedPaymentsInd>false</AnyNonFixedPaymentsInd>
      <InitialContractExceptionInd>false</InitialContractExceptionInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>DR STEVEN CRAMER</PersonNm>
        <TitleTxt>PRESIDENT (LEFT 2013)</TitleTxt>
        <BaseCompensationFilingOrgAmt>160328</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>31770</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>3509</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>3321</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>198928</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 1A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE PRESIDENT OF BETHEL COLLEGE IS A MINISTER AND THEREFORE RECEIVES A HOUSING ALLOWANCE. THIS IS INCLUDED IN NON-TAXABLE COMPENSATION ON HIS W-2.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleJ>
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      <TaxExemptBondsIssuesGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1>INDIANA FINANCE AUTHORITY</BusinessNameLine1>
        </IssuerName>
        <BondIssuerEIN>350035587</BondIssuerEIN>
        <BondIssuedDt>2012-07-31</BondIssuedDt>
        <IssuePriceAmt>18423000</IssuePriceAmt>
        <PurposeDesc>REFINANCE OF EXISTING DEBT</PurposeDesc>
        <DefeasedInd>false</DefeasedInd>
        <OnBehalfOfIssuerInd>false</OnBehalfOfIssuerInd>
        <PoolFinancingInd>false</PoolFinancingInd>
      </TaxExemptBondsIssuesGrp>
      <TaxExemptBondsProceedsGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <RetiredAmt>13451000</RetiredAmt>
        <BondDefeasedAmt>0</BondDefeasedAmt>
        <TotalProceedsAmt>18423000</TotalProceedsAmt>
        <InReserveFundAmt>0</InReserveFundAmt>
        <CapitalizedInterestAmt>0</CapitalizedInterestAmt>
        <RefundingEscrowAmt>0</RefundingEscrowAmt>
        <IssuanceCostsFromProceedsAmt>316987</IssuanceCostsFromProceedsAmt>
        <CreditEnhancementAmt>18106013</CreditEnhancementAmt>
        <WorkingCapitalExpendituresAmt>0</WorkingCapitalExpendituresAmt>
        <CapitalExpendituresAmt>0</CapitalExpendituresAmt>
        <OtherSpentProceedsAmt>0</OtherSpentProceedsAmt>
        <UnspentAmt>0</UnspentAmt>
        <SubstantialCompletionYr>2012</SubstantialCompletionYr>
        <CurrentRefundingInd>true</CurrentRefundingInd>
        <AdvanceRefundingInd>false</AdvanceRefundingInd>
        <FinalAllocationMadeInd>true</FinalAllocationMadeInd>
        <AdequateBooksAndRecMaintInd>true</AdequateBooksAndRecMaintInd>
      </TaxExemptBondsProceedsGrp>
      <TaxExemptBondsPrivateBusUseGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <OwningBondFinancedPropertyInd>false</OwningBondFinancedPropertyInd>
        <AnyLeaseArrangementsInd>false</AnyLeaseArrangementsInd>
        <MgmtContractBondFincdPropInd>false</MgmtContractBondFincdPropInd>
        <AnyResearchAgreementsInd>false</AnyResearchAgreementsInd>
        <PrivateBusUseByOthersPct>0</PrivateBusUseByOthersPct>
        <BondIssMeetPrvtSecPymtTestInd>false</BondIssMeetPrvtSecPymtTestInd>
        <ChangeInUseBondFinancedPropInd>false</ChangeInUseBondFinancedPropInd>
        <RemedialActionTakenInd>false</RemedialActionTakenInd>
        <ProcsNonqualifiedBondRemdtdInd>true</ProcsNonqualifiedBondRemdtdInd>
      </TaxExemptBondsPrivateBusUseGrp>
      <TaxExemptBondsArbitrageGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <Form8038TFiledInd>false</Form8038TFiledInd>
        <RebateNotDueYetInd>false</RebateNotDueYetInd>
        <ExceptionToRebateInd>false</ExceptionToRebateInd>
        <NoRebateDueInd>true</NoRebateDueInd>
        <VariableRateIssueInd>false</VariableRateIssueInd>
        <HedgeIdentifiedInBksAndRecInd>false</HedgeIdentifiedInBksAndRecInd>
        <HedgeProviderName>
          <BusinessNameLine1>0</BusinessNameLine1>
        </HedgeProviderName>
        <GrossProceedsInvestedInGICInd>false</GrossProceedsInvestedInGICInd>
        <GICProviderName>
          <BusinessNameLine1>0</BusinessNameLine1>
        </GICProviderName>
        <WrittenProcToMonitorReqsInd>true</WrittenProcToMonitorReqsInd>
      </TaxExemptBondsArbitrageGrp>
      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <ProceduresCorrectiveActionInd>false</ProceduresCorrectiveActionInd>
      </ProceduresCorrectiveActionGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART VI, LINE 2C</FormAndLineReferenceDesc>
        <ExplanationTxt>THE REBATE CALCULATION WAS PERFORMED IN SEPTEMBER OF 2012.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleK>
    <IRS990ScheduleL documentId="IRS990ScheduleL">
      <GrntAsstBnftInterestedPrsnGrp>
        <CashGrantAmt>9099</CashGrantAmt>
        <TypeOfAssistanceTxt>SCHOLARSHIP</TypeOfAssistanceTxt>
        <AssistancePurposeTxt>TUITION REMISSION</AssistancePurposeTxt>
      </GrntAsstBnftInterestedPrsnGrp>
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <PersonNm>TERI CRAMER</PersonNm>
        </NameOfInterested>
        <RelationshipDescriptionTxt>PRESIDENT'S SPOUSE</RelationshipDescriptionTxt>
        <TransactionAmt>30186</TransactionAmt>
        <TransactionDesc>COMPENSATION</TransactionDesc>
        <SharingOfRevenuesInd>false</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <PersonNm>MELISSA HAMIL</PersonNm>
        </NameOfInterested>
        <RelationshipDescriptionTxt>DAUGHTER IN LAW - HAMIL</RelationshipDescriptionTxt>
        <TransactionAmt>41934</TransactionAmt>
        <TransactionDesc>COMPENSATION</TransactionDesc>
        <SharingOfRevenuesInd>false</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <PersonNm>NATE HAMIL</PersonNm>
        </NameOfInterested>
        <RelationshipDescriptionTxt>SON - BRIAN HAMIL</RelationshipDescriptionTxt>
        <TransactionAmt>50785</TransactionAmt>
        <TransactionDesc>COMPENSATION</TransactionDesc>
        <SharingOfRevenuesInd>false</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
    </IRS990ScheduleL>
    <IRS990ScheduleM documentId="IRS990ScheduleM">
      <WorksOfArtGrp />
      <ArtHistoricalTreasuresGrp />
      <ArtFractionalInterestGrp />
      <BooksAndPublicationsGrp />
      <ClothingAndHouseholdGoodsGrp />
      <CarsAndOtherVehiclesGrp />
      <BoatsAndPlanesGrp />
      <IntellectualPropertyGrp />
      <SecuritiesPubliclyTradedGrp>
        <NonCashCheckboxInd>X</NonCashCheckboxInd>
        <ContributionCnt>2</ContributionCnt>
        <NoncashContributionsRptF990Amt>147598</NoncashContributionsRptF990Amt>
        <MethodOfDeterminingRevenuesTxt>FMV</MethodOfDeterminingRevenuesTxt>
      </SecuritiesPubliclyTradedGrp>
      <SecuritiesCloselyHeldStockGrp />
      <SecurPrtnrshpTrustIntrstsGrp />
      <SecuritiesMiscellaneousGrp />
      <QualifiedContribHistStructGrp />
      <QualifiedContribOtherGrp />
      <RealEstateResidentialGrp />
      <RealEstateCommercialGrp />
      <RealEstateOtherGrp />
      <CollectiblesGrp />
      <FoodInventoryGrp />
      <DrugsAndMedicalSuppliesGrp />
      <TaxidermyGrp />
      <HistoricalArtifactsGrp />
      <ScientificSpecimensGrp />
      <ArchaeologicalArtifactsGrp />
      <AnyPropertyThatMustBeHeldInd>false</AnyPropertyThatMustBeHeldInd>
      <ReviewProcessUnusualNCGiftsInd>true</ReviewProcessUnusualNCGiftsInd>
      <ThirdPartiesUsedInd>false</ThirdPartiesUsedInd>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="IRS990ScheduleO">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART VI</FormAndLineReferenceDesc>
        <ExplanationTxt>LINE 1 THE BOARD DELEGATES BROAD AUTHORITY TO AN EXECUTIVE COMMITTEE COMPOSED OF BOARD OFFICERS (CHAIR, VICE CHAIR, TREASURER, SECRETARY) AND BOARD COMMITTEE CHAIRS (ACADEMIC SERVICES, DEVELOPMENT &amp; COLLEGE RELATIONS, FINANCIAL SERVICES, STUDENT DEVELOPMENT) AS WELL AS THE BETHEL PRESIDENT AND DENOMINATION PRESIDENT. ALL EXECUTIVE COMMITTEE MEMBERS ARE MEMBERS OF THE BOARD. THE EXECUTIVE COMMITTEE SHALL EXERCISE ALL POWERS OF THE BOARD AT SUCH TIMES THE BOARD IS NOT IN SESSION, EXCEPT THAT IT SHALL NOT HAVE THE POWER TO ALTER OR REVOKE ANY PREVIOUS ORDER, RESOLUTION, OR VOTE OF A MEETING OF THE BOARD UNLESS SPECIFICALLY GRANTED SUCH POWER BY THE BOARD. LINE 1B BRIAN HAMIL IS CONSIDERED NON-INDEPENDENT DUE TO THE TRANSACTIONS LISTED ON SCHEDULE L. LINE 11 THE FORM 990 AND RELATED SCHEDULES ARE APPROPRIATELY REVIEWED BY AN INDEPENDENT ACCOUNTING FIRM AS WELL AS THE ORGANIZATION'S TOP MANAGEMENT. THE FORM 990 AND RELATED SCHEDULES ARE THEN FORWARDED TO THE FULL GOVERNING BODY PRIOR TO SUBMISSION TO THE IRS. LINE 12C BETHEL COLLEGE REQUIRES THE FULL DISCLOSURE BY BOARD MEMBERS AND OFFICERS OF ANY POTENTIAL CONFLICTS OF INTEREST. A DISCLOSURE FORM IS SENT TO THE GOVERNING BODY AND OFFICERS TO BE SIGNED AND COMPLETED ANNUALLY. IN THE EVENT THAT A BOARD MEMBER OR OFFICER HAS A CONFLICT OF INTEREST, THAT INDIVIDUAL SHALL REFRAIN FROM PARTICIPATING IN CONSIDERATION OF THE PROPOSED TRANSACTION. LINE 15 THE TRUSTEE BOARD REVIEWS AND APPROVES THE PRESIDENT'S COMPENSATION. THE TRUSTEE BOARD USES COMPARABILITY DATA FROM THE INDEPENDENT COLLEGES OF INDIANA AND COUNCIL OF CHRISTIAN COLLEGES AND UNIVERSITIES IN THE REVIEW PROCESS. THE PRESIDENT REVIEWS AND APPROVES THE COMPENSATION FOR OTHER OFFICERS. COMPARABILITY DATA IS USED AND THE PROCESS IS DOCUMENTED IN EMPLOYEE FILES. THIS PROCESS IS COMPLETED ANNUALLY AND WAS LAST UNDERTAKEN DURING THE TAX YEAR ENDED 6/30/2014. LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XI</FormAndLineReferenceDesc>
        <ExplanationTxt>RECONCILIATION OF NET ASSETS LINE 9 UNREALIZED LOSS ON INTEREST RATE SWAP $191,325</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="IRS990ScheduleR">
      <IdRelatedOrgTxblCorpTrGrp>
        <RelatedOrganizationName>
          <BusinessNameLine1>CHARITABLE REMAINDER TRUSTS (4)</BusinessNameLine1>
        </RelatedOrganizationName>
        <PrimaryActivitiesTxt>CHAR. REM. TRUSTS</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>IN</LegalDomicileStateCd>
      </IdRelatedOrgTxblCorpTrGrp>
      <ReceiptOfIntAnntsRntsRyltsInd>false</ReceiptOfIntAnntsRntsRyltsInd>
      <GiftGrntOrCapContriToOthOrgInd>false</GiftGrntOrCapContriToOthOrgInd>
      <GiftGrntCapContriFromOthOrgInd>false</GiftGrntCapContriFromOthOrgInd>
      <LoansOrGuaranteesToOtherOrgInd>false</LoansOrGuaranteesToOtherOrgInd>
      <LoansOrGuaranteesFromOthOrgInd>false</LoansOrGuaranteesFromOthOrgInd>
      <DivRelatedOrganizationInd>false</DivRelatedOrganizationInd>
      <AssetSaleToOtherOrgInd>false</AssetSaleToOtherOrgInd>
      <AssetPurchaseFromOtherOrgInd>false</AssetPurchaseFromOtherOrgInd>
      <AssetExchangeInd>false</AssetExchangeInd>
      <RentalOfFacilitiesToOthOrgInd>false</RentalOfFacilitiesToOthOrgInd>
      <RentalOfFcltsFromOthOrgInd>false</RentalOfFcltsFromOthOrgInd>
      <PerformOfServicesForOthOrgInd>false</PerformOfServicesForOthOrgInd>
      <PerformOfServicesByOtherOrgInd>false</PerformOfServicesByOtherOrgInd>
      <SharingOfFacilitiesInd>false</SharingOfFacilitiesInd>
      <PaidEmployeesSharingInd>false</PaidEmployeesSharingInd>
      <ReimbursementPaidToOtherOrgInd>false</ReimbursementPaidToOtherOrgInd>
      <ReimbursementPaidByOtherOrgInd>false</ReimbursementPaidByOtherOrgInd>
      <TransferToOtherOrgInd>false</TransferToOtherOrgInd>
      <TransferFromOtherOrgInd>false</TransferFromOtherOrgInd>
    </IRS990ScheduleR>
  </ReturnData>
</Return>