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        <BusinessNameLine1>UNIVERSITY OF EVANSVILLE</BusinessNameLine1>
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      <Phone>8124882183</Phone>
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        <AddressLine1>1800 LINCOLN AVENUE</AddressLine1>
        <City>EVANSVILLE</City>
        <State>IN</State>
        <ZIPCode>47722</ZIPCode>
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    <Officer>
      <Name>JEFFERY M WOLF</Name>
      <Title>Vice President</Title>
      <DateSigned>2012-03-05</DateSigned>
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      </Form990PartVIISectionA>
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        <NamePerson>PETER A ROSEN</NamePerson>
        <Title>PROFESSOR</Title>
        <AverageHoursPerWeek>40.00</AverageHoursPerWeek>
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        <OtherCompensation>16521</OtherCompensation>
      </Form990PartVIISectionA>
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        <NamePerson>PAUL W JONES</NamePerson>
        <Title>Trustee</Title>
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        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>P DANIEL MILLER</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
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      </Form990PartVIISectionA>
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        <NamePerson>NIEL C ELLERBROOK</NamePerson>
        <Title>Trustee</Title>
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        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
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      </Form990PartVIISectionA>
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        <NamePerson>NICK J RUTIGLIANO</NamePerson>
        <Title>Trustee</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
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      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>MICHAEL T VEA</NamePerson>
        <Title>Trustee</Title>
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      </Form990PartVIISectionA>
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        <NamePerson>MICHAEL R HINTON</NamePerson>
        <Title>Trustee</Title>
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        <NamePerson>MICHAEL J COYNER</NamePerson>
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        <NamePerson>MICHAEL A ZIMMER</NamePerson>
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        <NamePerson>MARTIN R SIMMONS</NamePerson>
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        <NamePerson>MARK L LEMOND</NamePerson>
        <Title>Trustee</Title>
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        <NamePerson>MARK A WILLIAMS</NamePerson>
        <Title>Trustee</Title>
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      </Form990PartVIISectionA>
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        <NamePerson>MARJORIE Z SOYUGENC</NamePerson>
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        <NamePerson>M STEPHEN HARKNESS</NamePerson>
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      </Form990PartVIISectionA>
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        <NamePerson>LINDA E WHITE</NamePerson>
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        <NamePerson>LAWRENCE J KREMER</NamePerson>
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        <NamePerson>LARRY E DUNIGAN</NamePerson>
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        <NamePerson>LARRY A RASCOE SR</NamePerson>
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        <NamePerson>JOHN W STANLEY</NamePerson>
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        <NamePerson>JOHN N DANIEL JR</NamePerson>
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        <NamePerson>JOHN C SCHROEDER</NamePerson>
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        <NamePerson>JOHN C BARNER</NamePerson>
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        <NamePerson>JEFFERY M WOLF</NamePerson>
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        <NamePerson>GREG E RAWSKI</NamePerson>
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        <NamePerson>DANA D CLAYTON</NamePerson>
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        <NamePerson>BRIAN G NAAS</NamePerson>
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        <NamePerson>ALAN W BRAUN</NamePerson>
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            <City>ST LOUIS</City>
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            <AddressLine1>12545 JORDAN LANE</AddressLine1>
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        <ManagementAndGeneral>299272</ManagementAndGeneral>
        <Fundraising>141876</Fundraising>
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      <PayrollTaxes>
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        <ProgramServices>1680658</ProgramServices>
        <ManagementAndGeneral>128494</ManagementAndGeneral>
        <Fundraising>61657</Fundraising>
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      <FeesForServicesManagement>
        <Total>0</Total>
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      <FeesForServicesLegal>
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        <ManagementAndGeneral>34167</ManagementAndGeneral>
        <Fundraising>422</Fundraising>
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      <FeesForServicesAccounting>
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        <ManagementAndGeneral>132350</ManagementAndGeneral>
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      <FeesForServicesLobbying>
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      <FeesForServicesProfFundraising>
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        <ManagementAndGeneral>164103</ManagementAndGeneral>
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        <ManagementAndGeneral>26834</ManagementAndGeneral>
        <Fundraising>5468</Fundraising>
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        <ProgramServices>1649427</ProgramServices>
        <ManagementAndGeneral>504219</ManagementAndGeneral>
        <Fundraising>58708</Fundraising>
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      <InformationTechnology>
        <Total>3041810</Total>
        <ProgramServices>2634912</ProgramServices>
        <ManagementAndGeneral>406898</ManagementAndGeneral>
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      <Royalties>
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        <ProgramServices>9105</ProgramServices>
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        <ProgramServices>3153245</ProgramServices>
        <ManagementAndGeneral>780663</ManagementAndGeneral>
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        <ManagementAndGeneral>112685</ManagementAndGeneral>
        <Fundraising>31739</Fundraising>
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      <TravelEntrtnmntPublicOfficials>
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      </TravelEntrtnmntPublicOfficials>
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        <ProgramServices>468658</ProgramServices>
        <ManagementAndGeneral>103962</ManagementAndGeneral>
        <Fundraising>51862</Fundraising>
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        <ProgramServices>2985115</ProgramServices>
        <ManagementAndGeneral>202779</ManagementAndGeneral>
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      <PaymentsToAffiliates>
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        <ProgramServices>3811824</ProgramServices>
        <ManagementAndGeneral>453525</ManagementAndGeneral>
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        <ProgramServices>332102</ProgramServices>
        <ManagementAndGeneral>295547</ManagementAndGeneral>
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        <ManagementAndGeneral>93593</ManagementAndGeneral>
        <Fundraising>37199</Fundraising>
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        <ManagementAndGeneral>214251</ManagementAndGeneral>
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      <OtherExpenses>
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      <OtherExpenses>
        <Description>DUES &amp; SUBSCRIPTIONS</Description>
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      <OtherExpenses>
        <Description>BOOKSTORE COGS</Description>
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        <ProgramServices>1063913</ProgramServices>
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      <IntangibleAssets>
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      <OtherAssetsTotal>
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      <MortNotesPyblSecuredInvestProp>
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        <EOY>84606669</EOY>
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        <EOY>68899926</EOY>
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        <EOY>159479618</EOY>
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      <TotalLiabNetAssetsFundBalances>
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        <EOY>244086287</EOY>
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      <InfoInScheduleOPartXI>X</InfoInScheduleOPartXI>
      <ReconcilationRevenueExpenses>2320014</ReconcilationRevenueExpenses>
      <ReconcilationOtherChanges>6722279</ReconcilationOtherChanges>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>true</FSAudited>
      <AuditCommittee>true</AuditCommittee>
      <FinancialStatementConsolidated>X</FinancialStatementConsolidated>
      <FederalGrantAuditRequired>true</FederalGrantAuditRequired>
      <FederalGrantAuditPerformed>true</FederalGrantAuditPerformed>
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        <ContributorAddressUS>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
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        <AggregateContributions>RESTRICTED</AggregateContributions>
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        <AssetsInPartX>984879</AssetsInPartX>
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      <CollectUsedForPublicExhibition>X</CollectUsedForPublicExhibition>
      <CollectUsedForPreservation>X</CollectUsedForPreservation>
      <SolicitedAssetsForSale>false</SolicitedAssetsForSale>
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        <BeginningOfYearBalance>68548340</BeginningOfYearBalance>
        <Contributions>1859870</Contributions>
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        <GrantsOrScholarships>-1479652</GrantsOrScholarships>
        <OtherExpenditures>-1825458</OtherExpenditures>
        <AdministrativeExpenses>-164103</AdministrativeExpenses>
        <EndOfYearBalance>78723886</EndOfYearBalance>
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        <Contributions>2732835</Contributions>
        <InvestmentEarningsOrLosses>5883044</InvestmentEarningsOrLosses>
        <GrantsOrScholarships>-1563424</GrantsOrScholarships>
        <OtherExpenditures>-1844115</OtherExpenditures>
        <AdministrativeExpenses>-154108</AdministrativeExpenses>
        <EndOfYearBalance>68548340</EndOfYearBalance>
      </CurrentYearMinus1Year>
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        <InvestmentEarningsOrLosses>-21640196</InvestmentEarningsOrLosses>
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      <OtherLiabilities>
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        <Description>CAPITAL LEASE OBLIGATIONS</Description>
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      <OtherLiabilities>
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      <DiscriminateRaceEmplmnFaculty>false</DiscriminateRaceEmplmnFaculty>
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        <FoodAndBeverageTotalEvents>2659</FoodAndBeverageTotalEvents>
        <OtherDirectExpensesTotalEvents>2068</OtherDirectExpensesTotalEvents>
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        <VolunteerLaborPullTabs>false</VolunteerLaborPullTabs>
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        <OtherDirectExpensesOtherGaming>3445</OtherDirectExpensesOtherGaming>
        <VolunteerLaborOtherGaming>true</VolunteerLaborOtherGaming>
        <VolunteerLaborPrcntOtherGaming>0.71400</VolunteerLaborPrcntOtherGaming>
        <GrossRevenueTotalGaming>24774</GrossRevenueTotalGaming>
        <CashPrizesTotalGaming>8710</CashPrizesTotalGaming>
        <OtherDirectExpensesTotalGaming>3445</OtherDirectExpensesTotalGaming>
        <DirectExpenseSummaryGaming>12155</DirectExpenseSummaryGaming>
        <NetGamingIncomeSummary>12619</NetGamingIncomeSummary>
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      <StatesWhereGamingConducted>IN</StatesWhereGamingConducted>
      <Licensed>true</Licensed>
      <LicenseSuspendedEtc>false</LicenseSuspendedEtc>
      <GamingWithNonmembers>false</GamingWithNonmembers>
      <MemberOfOtherEntity>false</MemberOfOtherEntity>
      <PercentageOfGamingOwnFacility>1.00000</PercentageOfGamingOwnFacility>
      <NameOfGamingRecKeeperPerson>DWIGHT MERILATT</NameOfGamingRecKeeperPerson>
      <AddressOfGamingRecKeeperUS>
        <AddressLine1>1800 LINCOLN AVENUE</AddressLine1>
        <City>EVANSVILLE</City>
        <State>IN</State>
        <ZIPCode>47722</ZIPCode>
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      <ContractWith3rdPartyForGamRev>false</ContractWith3rdPartyForGamRev>
      <GamingManagerNamePerson>DWIGHT MERILATT</GamingManagerNamePerson>
      <GamingManagerCompensation>66181</GamingManagerCompensation>
      <GamingManagerServicesProvided>ATHLETICS ADMINISTRATION</GamingManagerServicesProvided>
      <GamingManagerIsEmployee>X</GamingManagerIsEmployee>
      <CharitableDistribRequired>false</CharitableDistribRequired>
    </IRS990ScheduleG>
    <IRS990ScheduleI documentId="IRS990ScheduleI" softwareId="10000105" softwareVersion="2010v3.2">
      <RecordsMaintained>true</RecordsMaintained>
      <NoGrantMoreThan5000>X</NoGrantMoreThan5000>
      <TotalNbrOf501C3AndGovtGrants>0</TotalNbrOf501C3AndGovtGrants>
      <TotalNbrOfOtherOrganizations>0</TotalNbrOfOtherOrganizations>
      <Form990ScheduleIPartIII>
        <TypeOfGrant>STUDENT FINANCIAL AID</TypeOfGrant>
        <NumberOfRecipients>2457</NumberOfRecipients>
        <AmountOfCashGrant>36202750</AmountOfCashGrant>
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    </IRS990ScheduleI>
    <IRS990ScheduleJ documentId="IRS990ScheduleJ" softwareId="10000105" softwareVersion="2010v3.2">
      <TravelForCompanions>X</TravelForCompanions>
      <HousingAllowanceOrResidence>X</HousingAllowanceOrResidence>
      <ClubDuesOrFees>X</ClubDuesOrFees>
      <WrittenPolicyReTAndEExpenses>true</WrittenPolicyReTAndEExpenses>
      <SubstantiationRequired>true</SubstantiationRequired>
      <CompensationCommittee>X</CompensationCommittee>
      <IndependentConsultant>X</IndependentConsultant>
      <WrittenEmploymentContract>X</WrittenEmploymentContract>
      <CompensationSurvey>X</CompensationSurvey>
      <BoardOrCommitteeApproval>X</BoardOrCommitteeApproval>
      <SeverancePayment>true</SeverancePayment>
      <SupplementalNonqualRetirePlan>true</SupplementalNonqualRetirePlan>
      <EquityBasedCompArrangement>false</EquityBasedCompArrangement>
      <CompBasedOnRevenueOfFilingOrg>false</CompBasedOnRevenueOfFilingOrg>
      <CompBasedOnRevenueRelatedOrgs>false</CompBasedOnRevenueRelatedOrgs>
      <CompBasedNetEarningsFilingOrg>false</CompBasedNetEarningsFilingOrg>
      <CompBasedNetEarningsRelateOrgs>false</CompBasedNetEarningsRelateOrgs>
      <AnyNonFixedPayments>false</AnyNonFixedPayments>
      <InitialContractException>false</InitialContractException>
      <RebuttablePresumptionProcedure>false</RebuttablePresumptionProcedure>
      <Form990ScheduleJPartII>
        <NamePerson>THOMAS A KAZEE</NamePerson>
        <BaseCompensationFilingOrg>159996</BaseCompensationFilingOrg>
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        <TotalCompensationFilingOrg>218364</TotalCompensationFilingOrg>
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      <Form990ScheduleJPartII>
        <NamePerson>STEPHEN G JENNINGS</NamePerson>
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        <NamePerson>PHILIP M GERHART</NamePerson>
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        <TotalCompensationFilingOrg>168637</TotalCompensationFilingOrg>
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      <Form990ScheduleJPartII>
        <NamePerson>MARTIN R SIMMONS</NamePerson>
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        <DeferredCompFilingOrg>20392</DeferredCompFilingOrg>
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      <Form990ScheduleJPartII>
        <NamePerson>JOHN W STANLEY</NamePerson>
        <BaseCompensationFilingOrg>142869</BaseCompensationFilingOrg>
        <OtherCompensationFilingOrg>7545</OtherCompensationFilingOrg>
        <DeferredCompFilingOrg>14802</DeferredCompFilingOrg>
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        <TotalCompensationFilingOrg>175262</TotalCompensationFilingOrg>
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      <Form990ScheduleJPartII>
        <NamePerson>JOHN C BARNER</NamePerson>
        <BaseCompensationFilingOrg>119988</BaseCompensationFilingOrg>
        <OtherCompensationFilingOrg>24774</OtherCompensationFilingOrg>
        <DeferredCompFilingOrg>15416</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>12102</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>172280</TotalCompensationFilingOrg>
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      <Form990ScheduleJPartII>
        <NamePerson>JEFFERY M WOLF</NamePerson>
        <BaseCompensationFilingOrg>139450</BaseCompensationFilingOrg>
        <OtherCompensationFilingOrg>11506</OtherCompensationFilingOrg>
        <DeferredCompFilingOrg>15620</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>25742</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>192318</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartIII>
        <Identifier>Sch J, Part I, Line 1a</Identifier>
        <ReturnReference>Part I, Line 1a: Relevant information in regards to selections on 1a.</ReturnReference>
        <Explanation>TRAVEL FOR COMPANIONS:UNIVERSITY PROVIDES TRAVEL FOR PRESIDENT'S SPOUSE FOR CERTAIN ENGAGEMENTS.HOUSING ALLOWANCE:UNIVERSITY OWNED HOUSING IS PROVIDED TO THE PRESIDENT.HEALTH OR SOCIAL CLUB DUES:UNIVERSITY PAYS SOCIAL CLUB DUES FOR CERTAIN OFFICERS.</Explanation>
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    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="IRS990ScheduleK.1" softwareId="10000105" softwareVersion="2010v3.2">
      <Form990ScheduleKPartI>
        <IssuerName>
          <BusinessNameLine1>INDIANA FINANCE AUTHORITY</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>351602316</IssuerEIN>
        <DateIssued>2010-01-28</DateIssued>
        <IssuePrice>18365000</IssuePrice>
        <DescriptionOfPurpose>REFUND PRIOR ISSUE</DescriptionOfPurpose>
        <Defeased>false</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
        <PoolFinancing>false</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartI>
        <IssuerName>
          <BusinessNameLine1>INDIANA FINANCE AUTHORITY</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>351602316</IssuerEIN>
        <DateIssued>2009-12-30</DateIssued>
        <IssuePrice>29945000</IssuePrice>
        <DescriptionOfPurpose>REFUND PRIOR ISSUE</DescriptionOfPurpose>
        <Defeased>false</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
        <PoolFinancing>false</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartII>
        <TotalProceeds>18365000</TotalProceeds>
        <IssuanceCostsFromProceeds>100958</IssuanceCostsFromProceeds>
        <CurrentRefunding>true</CurrentRefunding>
        <AdvanceRefunding>false</AdvanceRefunding>
        <FinalAllocationMade>true</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>true</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartII>
        <TotalProceeds>29945000</TotalProceeds>
        <IssuanceCostsFromProceeds>163276</IssuanceCostsFromProceeds>
        <CurrentRefunding>true</CurrentRefunding>
        <AdvanceRefunding>false</AdvanceRefunding>
        <FinalAllocationMade>true</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>true</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartIII>
        <OwningBondFinancedProperty>false</OwningBondFinancedProperty>
        <AnyLeaseArrangements>false</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>false</MngmentCntrctBondFinancdPrprty>
        <AnyResearchAgreements>false</AnyResearchAgreements>
        <BondCounselRoutinelyEngaged>true</BondCounselRoutinelyEngaged>
        <PrcntgePrvtBusinessUseByOthers>0.00588</PrcntgePrvtBusinessUseByOthers>
        <PercentageOfPrvtBusinessReUBI>0.00023</PercentageOfPrvtBusinessReUBI>
        <TotalPrivateBusinessUse>0.00611</TotalPrivateBusinessUse>
        <PostIssuanceComplianceProcdrs>true</PostIssuanceComplianceProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIII>
        <OwningBondFinancedProperty>false</OwningBondFinancedProperty>
        <AnyLeaseArrangements>false</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>false</MngmentCntrctBondFinancdPrprty>
        <AnyResearchAgreements>false</AnyResearchAgreements>
        <BondCounselRoutinelyEngaged>true</BondCounselRoutinelyEngaged>
        <PrcntgePrvtBusinessUseByOthers>0.00576</PrcntgePrvtBusinessUseByOthers>
        <PercentageOfPrvtBusinessReUBI>0.00018</PercentageOfPrvtBusinessReUBI>
        <TotalPrivateBusinessUse>0.00594</TotalPrivateBusinessUse>
        <PostIssuanceComplianceProcdrs>true</PostIssuanceComplianceProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIV>
        <Form8038TFiled>true</Form8038TFiled>
        <VariableRateIssue>true</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>true</HedgeIdentifiedInBooksAndRecds>
        <NameOfHedgeProvider>
          <BusinessNameLine1>53 BANK</BusinessNameLine1>
        </NameOfHedgeProvider>
        <TermOfHedge>21.9000</TermOfHedge>
        <SuperintegratedHedge>false</SuperintegratedHedge>
        <HedgeTerminated>false</HedgeTerminated>
        <GrossProceedsInvestedInGIC>false</GrossProceedsInvestedInGIC>
        <GrossProceedsInvested>false</GrossProceedsInvested>
        <ExceptionToRebate>true</ExceptionToRebate>
      </Form990ScheduleKPartIV>
      <Form990ScheduleKPartIV>
        <Form8038TFiled>true</Form8038TFiled>
        <VariableRateIssue>true</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>true</HedgeIdentifiedInBooksAndRecds>
        <NameOfHedgeProvider>
          <BusinessNameLine1>53 OLD NATIONAL</BusinessNameLine1>
        </NameOfHedgeProvider>
        <TermOfHedge>18.8000</TermOfHedge>
        <SuperintegratedHedge>false</SuperintegratedHedge>
        <HedgeTerminated>false</HedgeTerminated>
        <GrossProceedsInvestedInGIC>false</GrossProceedsInvestedInGIC>
        <GrossProceedsInvested>false</GrossProceedsInvested>
        <ExceptionToRebate>true</ExceptionToRebate>
      </Form990ScheduleKPartIV>
    </IRS990ScheduleK>
    <IRS990ScheduleL documentId="IRS990ScheduleL" softwareId="10000105" softwareVersion="2010v3.2">
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>SOUTH WESTERN COMMUNICATIONS</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>ROBERT KOCH II</Relationship>
        <AmountOfTransaction>121550</AmountOfTransaction>
        <DescriptionOfTransaction>SECURITY AND A/V SYSTEMS</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
    </IRS990ScheduleL>
    <IRS990ScheduleM documentId="IRS990ScheduleM" softwareId="10000105" softwareVersion="2010v3.2">
      <CarsAndOtherVehicles>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>1</NumberOfContributions>
        <NoncashContribsRptdF990>14000</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>APPRAISAL</MethodOfDeterminingRevenues>
      </CarsAndOtherVehicles>
      <SecuritiesPubliclyTraded>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>27</NumberOfContributions>
        <NoncashContribsRptdF990>651284</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>STOCK EXCHANGE</MethodOfDeterminingRevenues>
      </SecuritiesPubliclyTraded>
      <Collectibles>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>2</NumberOfContributions>
        <NoncashContribsRptdF990>354955</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>APPRAISAL</MethodOfDeterminingRevenues>
      </Collectibles>
      <OtherNonCashContributionsTable>
        <NonCashCheckbox>X</NonCashCheckbox>
        <Description>PRINTING</Description>
        <NumberOfContributions>1</NumberOfContributions>
        <NoncashContribsRptdF990>5233</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>FMV</MethodOfDeterminingRevenues>
      </OtherNonCashContributionsTable>
      <NumberOf8283Received>3</NumberOf8283Received>
      <AnyPropertyThatMustBeHeld>false</AnyPropertyThatMustBeHeld>
      <ReviewProcessUnusualNCGifts>true</ReviewProcessUnusualNCGifts>
      <ThirdPartiesUsed>true</ThirdPartiesUsed>
      <Form990ScheduleMPartII>
        <Identifier>Part I, Line 32, Hire and Use of Third Parties</Identifier>
        <Explanation>THE UNIVERSITY UTILIZES VARIOUS BROKERAGE FIRMS TO SELL PUBLICLY TRADED STOCK THAT IS DONATED.</Explanation>
      </Form990ScheduleMPartII>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="IRS990ScheduleO" softwareId="10000105" softwareVersion="2010v3.2">
      <GeneralExplanation>
        <ReturnReference>SCHEDULE K, PART IV, LINE 3C</ReturnReference>
        <Explanation>THERE ARE TWO HEDGE AGREEMENTS ASSOCIATED WITH THIS BOND ISSUE. THE FIRST IS AN AGREEMENT WITH FIFTH THIRD BANK WITH A TERM OF 22.0 YEARS. THE SECOND IS AN AGREEMENT WITH OLD NATIONAL BANK WITH A TERM OF 5.5 YEARS. THE WEIGHTED AVERAGE TERM OF THE TWO SWAP AGREEMENTS IS 18.8.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>SCHEDULE D, PARTS VII AND IX</ReturnReference>
        <Explanation>INVESTMENTS - OTHER SECURITIES ON THE BALANCE SHEET DO NOT EXCEED 5% OF TOTAL ASSETS. THEREFORE, DETAIL IS NOT PROVIDED ON SCHEDULE D, PART VII.OTHER ASSETS ON THE BALANCE SHEET DO NOT EXCEED 5% OF TOTAL ASSETS. THEREFORE, DETAIL IS NOT PROVIDED ON SCHEDULE D, PART IX.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>PART IV, CHECKLIST OF REQUIRED SCHEDULES</ReturnReference>
        <Explanation>ON PART IV, CHECKLIST OF REQUIRED SCHEDULES, QUESTION 5, THE QUESTION SHOULD BE ANSWERED "NO", THE ORGANIZATION IS NOT A SECTION 501(C)(4), 501(C)(5), OR 501(C)(6)ORGANIZATION THAT RECEIVES MEMBERSHIP DUES, ASSESSMENTS, OR SIMILAR AMOUNTS AS DEFINED IN REVENUE PROCEDURE 98-19. LACERTE TAX SOFTWARE LEAVES BLANK IF THE QUESTION DOES NOT APPLY.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 19</Identifier>
        <ReturnReference>Form 990, Part VI, Line 19: Other Organization Documents Publicly Available</ReturnReference>
        <Explanation>THE UNIVERSITY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 15b</Identifier>
        <ReturnReference>Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees</ReturnReference>
        <Explanation>PRIOR TO THE PRESIDENT'S CURRENT CONTRACT RENEWAL, THE BOARD OF TRUSTEES PURCHASED BENCHMARK DATA FROM EXTERNAL CONSULTANTS. ONCE COMPENSATION WAS DETERMINED FROM A REVIEW OF THE DATA AND A CONTRACT DRAFTED, THE BOARD REQUESTED REVIEW OF THE CONTRACT BY AN ATTORNEY TO DETERMINE CONTRACT REASONABLENESS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 12c</Identifier>
        <ReturnReference>Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts</ReturnReference>
        <Explanation>THE PRESIDENT'S ADMINISTRATIVE ASSISTANT ASSURES THAT ALL TRUSTEES, OFFICERS, AND KEY EMPLOYEES COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE ANNUALLY. THE QUESTIONNAIRES ARE REVIEWED AND SUMMARIZED BY THE BOARD SECRETARY AND AUDIT COMMITTEE CHAIR. THE VICE PRESIDENT FOR FISCAL AFFAIRS AND ADMINISTRATION REVIEWS THE SUMMARY OF QUESTIONNAIRES FOR ITEMS CREATING EXPOSURE OR RISK TO THE UNIVERSITY.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 11</Identifier>
        <ReturnReference>Form 990, Part VI, Line 11: Form 990 Review Process</ReturnReference>
        <Explanation>THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES AND AVAILABLE TO THE FULL BOARD OF TRUSTEES VIA THE UNIVERSITY WEBSITE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 2</Identifier>
        <ReturnReference>Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et</ReturnReference>
        <Explanation>RELATIONSHIP #1:NIEL ELLERBOOK, ANDREW GOEBEL, LARRY DUNIGAN, LINDA WHITE, MARJORIE SOYUGENC, AND MARK LEMOND, UNIVERSITY TRUSTEES, ARE ALSO ON THE OLD NATIONAL BANK CORPORATION BOARD OF DIRECTORS. ROBERT JONES, UNIVERSITY TRUSTEE, IS CEO, PRESIDENT, AND DIRECTOR OF OLD NATIONAL BANK CORPORATION.RELATIONSHIP #2:LARRY KREMER AND DANIEL MILLER, UNIVERSITY TRUSTEES, ARE ALSO ON KOCH ENTERPRISES, INC. BOARD OF DIRECTORS. ROBERT KOCH, UNIVERSITY TRUSTEE, IS CEO AND DIRECTOR OF KOCH ENTERPRISES, INC. AND IS A 48% OWNER OF KOCH ENTERPRISES, INC. RELATIONSHIP #3:LARRY KREMER AND LEE COOPER, UNIVERSITY TRUSTEES, ARE ALSO ON THE FIFTH THIRD BANK BOARD OF DIRECTORS. JOHN DANIEL, UNIVERSITY TRUSTEE, IS CEO,PRESIDENT, AND DIRECTOR OF FIFTH THIRD BANK.RELATIONSHIP #4:WILLIAM MAYS, SPOUSE OF ROSE MAYS, UNIVERSITY TRUSTEE, AND ROBERT JONES, UNIVERSITY TRUSTEE, ARE ALSO ON VECTREN CORPORATION BOARD OF DIRECTORS. NIEL ELLERBROOK, UNIVERSITY TRUSTEE, IS CEO OF VECTREN ENERGY DELIVERY.RELATIONSHIP #5:ANDREW GOEBEL IS ON THE BRAKE SUPPLY BOARD OF DIRECTORS. BRAKE SUPPLY IS OWNED BY KOCH ENTERPRISES, INC. ROBERT KOCH, UNIVERSITY TRUSTEE, IS CEO OF KOCH ENTERPRISES, INC. AND IS A 48% OWNER OF KOCH ENTERPRISES, INC.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>