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      <Form990PartVIISectionAGrp>
        <PersonNm>DANIEL MURCHISON</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>SEAN SCOTT</PersonNm>
        <TitleTxt>DIRECTOR UNTIL 6/2025</TitleTxt>
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        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>JACK L SMALLPAGE</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>TOWNSEND TANNER</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
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        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>MARK A WHITNEY</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>JOSH WHITNEY</PersonNm>
        <TitleTxt>DIRECTOR UNTIL 6/2025</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>WILL WILLIMON</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>SEAN JENKINS</PersonNm>
        <TitleTxt>HEAD OF SCHOOL</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>389965</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>63588</OtherCompensationAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>TONYA RICHARDSON</PersonNm>
        <TitleTxt>CFO FROM 6/2024</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
        <OfficerInd>X</OfficerInd>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>16827</OtherCompensationAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>BETSY ELLIS</PersonNm>
        <TitleTxt>ASSISTANT HEAD OF SCHOOL FOR EXTERNAL AFFAIRS</TitleTxt>
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        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
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        <ReportableCompFromOrgAmt>152998</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>43879</OtherCompensationAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>DANNY ELMER</PersonNm>
        <TitleTxt>DIRECTOR OF FACILTIES</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>20745</OtherCompensationAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>KIRK BLACKARD</PersonNm>
        <TitleTxt>DIRECTOR OF COLLEGE GUIDANCE</TitleTxt>
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        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>DAN STEVENSON</PersonNm>
        <TitleTxt>SENIOR ENDOWMENT GIFTS OFFICER</TitleTxt>
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        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>RON RAMSEY</PersonNm>
        <TitleTxt>DIRECTOR OF SAFETY AND SECURITY</TitleTxt>
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        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
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        <OtherCompensationAmt>31321</OtherCompensationAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>EMILY PULSIFER</PersonNm>
        <TitleTxt>DEAN OF ACADEMICS</TitleTxt>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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      <TotalCompGreaterThan150KInd>1</TotalCompGreaterThan150KInd>
      <CompensationFromOtherSrcsInd>0</CompensationFromOtherSrcsInd>
      <ContractorCompensationGrp>
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          <BusinessName>
            <BusinessNameLine1Txt>SAGE DINING SERVICES</BusinessNameLine1Txt>
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        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>1402 YORK RD</AddressLine1Txt>
            <CityNm>LUTHERVILLE</CityNm>
            <StateAbbreviationCd>MD</StateAbbreviationCd>
            <ZIPCd>21093</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>FOOD SERVICE</ServicesDesc>
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      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>JSL BUILDING</BusinessNameLine1Txt>
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        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>PO BOX 1792</AddressLine1Txt>
            <CityNm>FAIRVIEW</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>28730</ZIPCd>
          </USAddress>
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      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>SPARKLING CLEANING &amp; JANITORIAL SERVICES</BusinessNameLine1Txt>
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        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>PO BOX 486</AddressLine1Txt>
            <CityNm>ARDEN</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>28704</ZIPCd>
          </USAddress>
        </ContractorAddress>
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        <CompensationAmt>218745</CompensationAmt>
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      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>ELECTRONIC OFFICE</BusinessNameLine1Txt>
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        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>1400 SWEETEN CREEK ROAD</AddressLine1Txt>
            <CityNm>ASHVILLE</CityNm>
            <StateAbbreviationCd>NC</StateAbbreviationCd>
            <ZIPCd>28803</ZIPCd>
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        </ContractorAddress>
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      <CntrctRcvdGreaterThan100KCnt>4</CntrctRcvdGreaterThan100KCnt>
      <GovernmentGrantsAmt>382164</GovernmentGrantsAmt>
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      <TotalContributionsAmt>22249731</TotalContributionsAmt>
      <ProgramServiceRevenueGrp>
        <Desc>TUITION AND FEES</Desc>
        <BusinessCd>611110</BusinessCd>
        <TotalRevenueColumnAmt>17978072</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>17978072</RelatedOrExemptFuncIncomeAmt>
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      <ProgramServiceRevenueGrp>
        <Desc>BOOKSTORE</Desc>
        <BusinessCd>611110</BusinessCd>
        <TotalRevenueColumnAmt>210768</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>210768</RelatedOrExemptFuncIncomeAmt>
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      <ProgramServiceRevenueGrp>
        <Desc>SUMMER PROGRAMS</Desc>
        <BusinessCd>611110</BusinessCd>
        <TotalRevenueColumnAmt>193726</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>193726</RelatedOrExemptFuncIncomeAmt>
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        <TotalRevenueColumnAmt>828789</TotalRevenueColumnAmt>
        <ExclusionAmt>828789</ExclusionAmt>
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      <GrossAmountSalesAssetsGrp>
        <SecuritiesAmt>1379011</SecuritiesAmt>
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        <SecuritiesAmt>0</SecuritiesAmt>
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      <GainOrLossGrp>
        <SecuritiesAmt>1379011</SecuritiesAmt>
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      <NetGainOrLossInvestmentsGrp>
        <TotalRevenueColumnAmt>1379011</TotalRevenueColumnAmt>
        <ExclusionAmt>1379011</ExclusionAmt>
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        <Desc>BUILDING INSURANCE PAYMENT</Desc>
        <BusinessCd>900099</BusinessCd>
        <TotalRevenueColumnAmt>497281</TotalRevenueColumnAmt>
        <ExclusionAmt>497281</ExclusionAmt>
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      <MiscellaneousRevenueGrp>
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        <ExclusionAmt>12269</ExclusionAmt>
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      <TotalRevenueGrp>
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        <UnrelatedBusinessRevenueAmt>0</UnrelatedBusinessRevenueAmt>
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      <GrantsToDomesticIndividualsGrp>
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        <ProgramServicesAmt>6652974</ProgramServicesAmt>
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        <ProgramServicesAmt>306980</ProgramServicesAmt>
        <ManagementAndGeneralAmt>270038</ManagementAndGeneralAmt>
        <FundraisingAmt>235362</FundraisingAmt>
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        <ProgramServicesAmt>5388997</ProgramServicesAmt>
        <ManagementAndGeneralAmt>942264</ManagementAndGeneralAmt>
        <FundraisingAmt>411979</FundraisingAmt>
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        <ProgramServicesAmt>345424</ProgramServicesAmt>
        <ManagementAndGeneralAmt>104925</ManagementAndGeneralAmt>
        <FundraisingAmt>39129</FundraisingAmt>
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      <OtherEmployeeBenefitsGrp>
        <TotalAmt>755595</TotalAmt>
        <ProgramServicesAmt>551696</ProgramServicesAmt>
        <ManagementAndGeneralAmt>155785</ManagementAndGeneralAmt>
        <FundraisingAmt>48114</FundraisingAmt>
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        <ProgramServicesAmt>344712</ProgramServicesAmt>
        <ManagementAndGeneralAmt>120252</ManagementAndGeneralAmt>
        <FundraisingAmt>42635</FundraisingAmt>
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        <ManagementAndGeneralAmt>16371</ManagementAndGeneralAmt>
      </FeesForServicesLegalGrp>
      <FeesForServicesAccountingGrp>
        <TotalAmt>88910</TotalAmt>
        <ManagementAndGeneralAmt>88910</ManagementAndGeneralAmt>
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      <FeesForSrvcInvstMgmntFeesGrp>
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        <ManagementAndGeneralAmt>81003</ManagementAndGeneralAmt>
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        <ProgramServicesAmt>29238</ProgramServicesAmt>
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        <ManagementAndGeneralAmt>104882</ManagementAndGeneralAmt>
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        <ProgramServicesAmt>58111</ProgramServicesAmt>
        <ManagementAndGeneralAmt>183108</ManagementAndGeneralAmt>
        <FundraisingAmt>210015</FundraisingAmt>
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        <ProgramServicesAmt>1259444</ProgramServicesAmt>
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        <ProgramServicesAmt>68631</ProgramServicesAmt>
        <ManagementAndGeneralAmt>42253</ManagementAndGeneralAmt>
        <FundraisingAmt>11878</FundraisingAmt>
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        <ProgramServicesAmt>853911</ProgramServicesAmt>
        <ManagementAndGeneralAmt>158867</ManagementAndGeneralAmt>
        <FundraisingAmt>54611</FundraisingAmt>
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        <ManagementAndGeneralAmt>274260</ManagementAndGeneralAmt>
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        <Desc>STUDENT ACTIVITIES</Desc>
        <TotalAmt>1541286</TotalAmt>
        <ProgramServicesAmt>739768</ProgramServicesAmt>
        <FundraisingAmt>801518</FundraisingAmt>
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      <OtherExpensesGrp>
        <Desc>DINING HALL</Desc>
        <TotalAmt>1498304</TotalAmt>
        <ProgramServicesAmt>1498304</ProgramServicesAmt>
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      <OtherExpensesGrp>
        <Desc>BOOK STORE</Desc>
        <TotalAmt>189490</TotalAmt>
        <ProgramServicesAmt>189490</ProgramServicesAmt>
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      <OtherExpensesGrp>
        <Desc>SUMMER PROGRAMS</Desc>
        <TotalAmt>154479</TotalAmt>
        <ProgramServicesAmt>154479</ProgramServicesAmt>
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      <AllOtherExpensesGrp>
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        <ManagementAndGeneralAmt>316003</ManagementAndGeneralAmt>
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      <TotalFunctionalExpensesGrp>
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        <ProgramServicesAmt>18442159</ProgramServicesAmt>
        <ManagementAndGeneralAmt>3178595</ManagementAndGeneralAmt>
        <FundraisingAmt>2017892</FundraisingAmt>
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        <EOYAmt>9394903</EOYAmt>
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      <SavingsAndTempCashInvstGrp>
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        <EOYAmt>901235</EOYAmt>
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      <PledgesAndGrantsReceivableGrp>
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        <EOYAmt>8089076</EOYAmt>
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      <AccountsReceivableGrp>
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        <EOYAmt>41078</EOYAmt>
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        <BOYAmt>132200</BOYAmt>
        <EOYAmt>90690</EOYAmt>
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        <EOYAmt>81957</EOYAmt>
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      <LandBldgEquipBasisNetGrp>
        <BOYAmt>21161654</BOYAmt>
        <EOYAmt>20628918</EOYAmt>
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      <InvestmentsPubTradedSecGrp>
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        <EOYAmt>24243322</EOYAmt>
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        <EOYAmt>4474306</EOYAmt>
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      <TotalAssetsGrp>
        <BOYAmt>47645599</BOYAmt>
        <EOYAmt>67945485</EOYAmt>
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      <AccountsPayableAccrExpnssGrp>
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        <EOYAmt>134375</EOYAmt>
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        <EOYAmt>990721</EOYAmt>
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      <EscrowAccountLiabilityGrp>
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        <EOYAmt>32384</EOYAmt>
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      <UnsecuredNotesLoansPayableGrp>
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        <EOYAmt>0</EOYAmt>
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      <OtherLiabilitiesGrp>
        <BOYAmt>19600</BOYAmt>
        <EOYAmt>20600</EOYAmt>
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      <TotalLiabilitiesGrp>
        <BOYAmt>1527635</BOYAmt>
        <EOYAmt>1178080</EOYAmt>
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      <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
      <NoDonorRestrictionNetAssetsGrp>
        <BOYAmt>23684417</BOYAmt>
        <EOYAmt>32771649</EOYAmt>
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      <DonorRestrictionNetAssetsGrp>
        <BOYAmt>22433547</BOYAmt>
        <EOYAmt>33995756</EOYAmt>
      </DonorRestrictionNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
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        <EOYAmt>66767405</EOYAmt>
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      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>47645599</BOYAmt>
        <EOYAmt>67945485</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <InfoInScheduleOPartXIInd>X</InfoInScheduleOPartXIInd>
      <ReconcilationRevenueExpnssAmt>19711001</ReconcilationRevenueExpnssAmt>
      <NetUnrlzdGainsLossesInvstAmt>778754</NetUnrlzdGainsLossesInvstAmt>
      <OtherChangesInNetAssetsAmt>159686</OtherChangesInNetAssetsAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>0</AccountantCompileOrReviewInd>
      <FSAuditedInd>1</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>1</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>0</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc1039100001">
      <SchoolInd>X</SchoolInd>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <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>
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    <IRS990ScheduleD documentId="RetDoc1040000001">
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      <InclEscrowCustodialAcctLiabInd>1</InclEscrowCustodialAcctLiabInd>
      <ExplanationProvidedInd>X</ExplanationProvidedInd>
      <CYEndwmtFundGrp>
        <BeginningYearBalanceAmt>22542193</BeginningYearBalanceAmt>
        <ContributionsAmt>1270111</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>2194967</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>1033605</OtherExpendituresAmt>
        <EndYearBalanceAmt>24973666</EndYearBalanceAmt>
      </CYEndwmtFundGrp>
      <CYMinus1YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>20119574</BeginningYearBalanceAmt>
        <ContributionsAmt>1025467</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>2393477</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>996325</OtherExpendituresAmt>
        <EndYearBalanceAmt>22542193</EndYearBalanceAmt>
      </CYMinus1YrEndwmtFundGrp>
      <CYMinus2YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>19132066</BeginningYearBalanceAmt>
        <ContributionsAmt>1047079</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>1575261</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>1634832</OtherExpendituresAmt>
        <EndYearBalanceAmt>20119574</EndYearBalanceAmt>
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        <InvestmentEarningsOrLossesAmt>-2697512</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>884563</OtherExpendituresAmt>
        <EndYearBalanceAmt>19132066</EndYearBalanceAmt>
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        <BeginningYearBalanceAmt>16189617</BeginningYearBalanceAmt>
        <ContributionsAmt>2257292</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>3611563</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>784762</OtherExpendituresAmt>
        <EndYearBalanceAmt>21273710</EndYearBalanceAmt>
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      <PrmnntEndowmentBalanceEOYPct>0.85047</PrmnntEndowmentBalanceEOYPct>
      <TermEndowmentBalanceEOYPct>0.00000</TermEndowmentBalanceEOYPct>
      <EndowmentsHeldUnrelatedOrgInd>1</EndowmentsHeldUnrelatedOrgInd>
      <EndowmentsHeldRelatedOrgInd>0</EndowmentsHeldRelatedOrgInd>
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        <OtherCostOrOtherBasisAmt>500</OtherCostOrOtherBasisAmt>
        <BookValueAmt>500</BookValueAmt>
      </LandGrp>
      <BuildingsGrp>
        <OtherCostOrOtherBasisAmt>43239189</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>25971330</DepreciationAmt>
        <BookValueAmt>17267859</BookValueAmt>
      </BuildingsGrp>
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>4337748</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>3940007</DepreciationAmt>
        <BookValueAmt>397741</BookValueAmt>
      </EquipmentGrp>
      <OtherLandBuildingsGrp>
        <OtherCostOrOtherBasisAmt>5676055</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>2713237</DepreciationAmt>
        <BookValueAmt>2962818</BookValueAmt>
      </OtherLandBuildingsGrp>
      <TotalBookValueLandBuildingsAmt>20628918</TotalBookValueLandBuildingsAmt>
      <OtherAssetsOrgGrp>
        <Desc>INTEREST IN PERPETUAL TRUSTS</Desc>
        <BookValueAmt>4320081</BookValueAmt>
      </OtherAssetsOrgGrp>
      <OtherAssetsOrgGrp>
        <Desc>CASH SURRENDER VALUE OF LIFE INSURANCE</Desc>
        <BookValueAmt>126721</BookValueAmt>
      </OtherAssetsOrgGrp>
      <OtherAssetsOrgGrp>
        <Desc>ASSETS HELD FOR EMPLOYEES</Desc>
        <BookValueAmt>27504</BookValueAmt>
      </OtherAssetsOrgGrp>
      <TotalBookValueOtherAssetsAmt>4474306</TotalBookValueOtherAssetsAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>DEPOSIT</Desc>
        <Amt>20600</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>20600</TotalLiabilityAmt>
      <FootnoteTextInd>X</FootnoteTextInd>
      <TotalRevEtcAuditedFinclStmtAmt>37554110</TotalRevEtcAuditedFinclStmtAmt>
      <NetUnrealizedGainsInvstAmt>778754</NetUnrealizedGainsInvstAmt>
      <OtherRevenueAmt>159686</OtherRevenueAmt>
      <RevenueNotReportedAmt>938440</RevenueNotReportedAmt>
      <RevenueSubtotalAmt>36615670</RevenueSubtotalAmt>
      <InvestmentExpensesNotIncldAmt>81003</InvestmentExpensesNotIncldAmt>
      <OtherRevenuesNotIncludedAmt>6652974</OtherRevenuesNotIncludedAmt>
      <RevenueNotReportedFinclStmtAmt>6733977</RevenueNotReportedFinclStmtAmt>
      <TotalRevenuePerForm990Amt>43349647</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>16904669</TotExpnsEtcAuditedFinclStmtAmt>
      <ExpensesNotReportedAmt>0</ExpensesNotReportedAmt>
      <ExpensesSubtotalAmt>16904669</ExpensesSubtotalAmt>
      <InvestmentExpensesNotIncld2Amt>81003</InvestmentExpensesNotIncld2Amt>
      <OtherExpensesNotIncludedAmt>6652974</OtherExpensesNotIncludedAmt>
      <ExpensesNotRptFinclStmtAmt>6733977</ExpensesNotRptFinclStmtAmt>
      <TotalExpensesPerForm990Amt>23638646</TotalExpensesPerForm990Amt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART IV, LINE 2B:</FormAndLineReferenceDesc>
        <ExplanationTxt>IN 2017, THE SCHOOL BEGAN TO PROVIDE CERTAIN KEY EMPLOYEES THE OPPORTUNITY TO DEFER CURRENT COMPENSATION UNDER 457(B) AND 457(F) PLANS. THE SCHOOL HOLDS THE DEFERRED AMOUNTS, PLUS ANY EARNINGS, FOR THEIR BENEFIT. DEFERRALS UNDER THE 457(B) PLAN ARE ELECTIVE WHILE DEFERRALS UNDER THE 457(F) PLAN ARE FUNDED BY THE SCHOOL. PARTICIPANTS ARE REQUIRED TO COMMENCE BENEFIT PAYMENTS NO EARLIER THAN 60 DAYS FOLLOWING SEPARATION FROM SERVICE AND NO LATER THAN ACHIEVING THE AGE OF 70 OR AS OTHERWISE LIMITED BY THE PLAN DOCUMENTS. TOTAL CONTRIBUTIONS TO THE PLANS WERE $-0- FOR THE YEARS ENDED JUNE 30, 2025 AND 2024. THE FAIR VALUE OF THE PLAN ASSETS TOTALED $27,504 AND $24,513 AS OF JUNE 30, 2025 AND 2024, RESPECTIVELY, AND ARE REFLECTED AS ASSETS HELD FOR EMPLOYEES ON THE STATEMENTS OF FINANCIAL POSITION WITH AN EQUAL RELATED LIABILITY PRESENTED AS DUE TO EMPLOYEES. THE SCHOOL'S POLICY IS TO RECOGNIZE THE FAIR VALUE OF INVESTMENT HELD BY THE PLAN AND AN OFFSETTING LIABILITY UNTIL BENEFITS ARE DISTRIBUTED, AT WHICH TIME THE ASSET AND LIABILITY ARE REMOVED FROM THE SCHOOL'S BOOKS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART V, LINE 4:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE SCHOOL'S ENDOWMENT CONSISTS OF APPROXIMATELY 50 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES. ITS ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS. THE SCHOOL HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. THESE FUNDS ARE USED TO ACHIEVE EDUCATIONAL GOALS AND MEET BUDGETARY NEEDS. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART X, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE SCHOOL IS EXEMPT FROM FEDERAL AND STATE INCOME TAXATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME UNRELATED TO ITS EXEMPT FUNCTION, IF ANY, IS SUBJECT TO INCOME TAXATION. MANAGEMENT BELIEVES THAT THE SCHOOL CONTINUES TO SATISFY THE REQUIREMENTS OF A TAX-EXEMPT ORGANIZATION AND IS NOT SUBJECT TO TAX. NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE ACCOMPANYING FINANCIAL STATEMENTS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XI, LINE 2D - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>CHANGE IN INTEREST IN PERPETUAL TRUST 159,686.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XI, LINE 4B - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>FINANCIAL AID EXPENSES NETTED WITH REVENUE 6,652,974.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XII, LINE 4B - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>FINANCIAL AID EXPENSES NETTED WITH REVENUE 6,652,974.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="RetDoc1040400001">
      <NondiscriminatoryPolicyStmtInd>1</NondiscriminatoryPolicyStmtInd>
      <PolicyStmtInBrochuresEtcInd>1</PolicyStmtInBrochuresEtcInd>
      <PlcyPblczdViaBroadcastMediaInd>1</PlcyPblczdViaBroadcastMediaInd>
      <MaintainRacialCompRecsInd>1</MaintainRacialCompRecsInd>
      <MaintainScholarshipsRecsInd>1</MaintainScholarshipsRecsInd>
      <MaintainCpyOfBrochuresEtcInd>1</MaintainCpyOfBrochuresEtcInd>
      <MaintainCpyOfAllSolInd>1</MaintainCpyOfAllSolInd>
      <DiscriminateRaceStdntsRghtsInd>0</DiscriminateRaceStdntsRghtsInd>
      <DiscriminateRaceAdmissPlcyInd>0</DiscriminateRaceAdmissPlcyInd>
      <DiscriminateRaceEmplmFcultyInd>0</DiscriminateRaceEmplmFcultyInd>
      <DiscriminateRaceSchsInd>0</DiscriminateRaceSchsInd>
      <DiscriminateRaceEducPlcyInd>0</DiscriminateRaceEducPlcyInd>
      <DiscriminateRaceUseOfFcltsInd>0</DiscriminateRaceUseOfFcltsInd>
      <DiscriminateRaceAthltProgInd>0</DiscriminateRaceAthltProgInd>
      <DiscriminateRaceOtherActyInd>0</DiscriminateRaceOtherActyInd>
      <GovernmentFinancialAidRcvdInd>0</GovernmentFinancialAidRcvdInd>
      <GovernmentFinancialAidRvkdInd>0</GovernmentFinancialAidRvkdInd>
      <ComplianceWithRevProc7550Ind>1</ComplianceWithRevProc7550Ind>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE E, PART I, LINE 3</FormAndLineReferenceDesc>
        <ExplanationTxt>THE SCHOOL POSTS INFORMATION ON ITS WEBSITE ABOUT ITS RACIALLY NONDISCRIMINATORY POLICY.</ExplanationTxt>
      </SupplementalInformationDetail>
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    <IRS990ScheduleI documentId="RetDoc1041900001">
      <GrantRecordsMaintainedInd>1</GrantRecordsMaintainedInd>
      <GrantsOtherAsstToIndivInUSGrp>
        <GrantTypeTxt>MERIT SCHOLARSHIP</GrantTypeTxt>
        <RecipientCnt>16</RecipientCnt>
        <NonCashAssistanceAmt>692275</NonCashAssistanceAmt>
        <ValuationMethodUsedDesc>PUBLISHED TUITION RATES</ValuationMethodUsedDesc>
        <NonCashAssistanceDesc>TUITION REDUCTION</NonCashAssistanceDesc>
      </GrantsOtherAsstToIndivInUSGrp>
      <GrantsOtherAsstToIndivInUSGrp>
        <GrantTypeTxt>FINANCIAL AID</GrantTypeTxt>
        <RecipientCnt>185</RecipientCnt>
        <NonCashAssistanceAmt>5960699</NonCashAssistanceAmt>
        <ValuationMethodUsedDesc>PUBLISHED TUITION RATES</ValuationMethodUsedDesc>
        <NonCashAssistanceDesc>TUITION REDUCTION</NonCashAssistanceDesc>
      </GrantsOtherAsstToIndivInUSGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE SCHOOL AWARDS A LIMITED NUMBER OF MERIT SCHOLARSHIPS EACH YEAR TO STUDENTS BASED ON DEMONSTRATED RECORDS OF ACADEMIC EXCELLENCE AND LEADERSHIP POTENTIAL IN ATHLETICS, SCOUTING, COMMUNITY SERVICE, SPIRITUAL PURSUITS, AND OTHER ACTIVITIES. THE SCHOOL ALSO SPONSORS NEED-BASED FINANCIAL AID GRANTS TO ADMITTED STUDENTS WITH DEMONSTRATED NEED ON A FIRST-COME, FIRST-SERVE BASIS. SUBSEQUENT YEARS' FINANCIAL ASSISTANCE DEPENDS UPON A STUDENT'S FAMILY DEMONSTRATING NEED ANNUALLY. IN ADDITION, THE STUDENT RECIPIENT OF SUCH ASSISTANCE MUST MAKE SATISFACTORY ACADEMIC PROGRESS (AS DEFINED IN THE STUDENT HANDBOOK) AND MAINTAIN GOOD CITIZENSHIP AS A MEMBER OF THE SCHOOL COMMUNITY.</ExplanationTxt>
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      <ClubDuesOrFeesInd>X</ClubDuesOrFeesInd>
      <WrittenPolicyRefTAndEExpnssInd>1</WrittenPolicyRefTAndEExpnssInd>
      <SubstantiationRequiredInd>1</SubstantiationRequiredInd>
      <CompensationCommitteeInd>X</CompensationCommitteeInd>
      <WrittenEmploymentContractInd>X</WrittenEmploymentContractInd>
      <BoardOrCommitteeApprovalInd>X</BoardOrCommitteeApprovalInd>
      <SeverancePaymentInd>0</SeverancePaymentInd>
      <SupplementalNonqualRtrPlanInd>0</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>0</EquityBasedCompArrngmInd>
      <CompBasedOnRevenueOfFlngOrgInd>0</CompBasedOnRevenueOfFlngOrgInd>
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      <CompBsdNetEarnsRltdOrgsInd>0</CompBsdNetEarnsRltdOrgsInd>
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      <InitialContractExceptionInd>0</InitialContractExceptionInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>SEAN JENKINS</PersonNm>
        <TitleTxt>HEAD OF SCHOOL</TitleTxt>
        <BaseCompensationFilingOrgAmt>349965</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>40000</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>29078</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>34510</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>453553</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>BETSY ELLIS</PersonNm>
        <TitleTxt>ASSISTANT HEAD OF SCHOOL FOR EXTERNA</TitleTxt>
        <BaseCompensationFilingOrgAmt>145498</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>7500</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>14550</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>29329</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>196877</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 1A</FormAndLineReferenceDesc>
        <ExplanationTxt>FOR THE HEAD OF SCHOOL AND DIRECTOR OF EXTERNAL AFFAIRS, THE SCHOOL PROVIDES A PERSONAL RESIDENCE ON CAMPUS. USE OF THIS RESIDENCE IS A CONDITION OF EMPLOYMENT SO THAT THESE INDIVIDUALS CAN BE AVAILABLE FOR THE NEEDS OF THE SCHOOL. THE SCHOOL HAS A CLUB MEMBERSHIP REGISTERED IN THE HEAD OF SCHOOL'S NAME. THE CLUB IS USED FOR VARIOUS EVENTS THE SCHOOL HOLDS DURING THE YEAR. BOTH BENEFITS ARE TREATED AS NON-TAXABLE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 7</FormAndLineReferenceDesc>
        <ExplanationTxt>BONUSES FOR THE HEAD OF SCHOOL ARE FIXED, DETERMINED IN ACCORDANCE WITH THE HEAD OF SCHOOL'S COMPENSATION CONTRACT. BONUSES FOR OTHER EMPLOYEES ARE DETERMINED BY THE HEAD OF SCHOOL, BASED ON A REVIEW OF FINANCES AT YEAR-END CLOSE, UNEXPECTED CIRCUMSTANCES, AND HISTORICAL BONSUES AND TUITION REIMBURSEMENTS EACH INDIVIDUAL MAY HAVE RECEIVED. BONUSES ARE NOT GUARANTEED.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleJ>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE 990 IS REVIEWED BY MANAGEMENT. THE PUBLIC DISCLOSURE COPY OF FORM 990 IS PROVIDED TO THE BOARD PRIOR TO FILING. THE PUBLIC DISCLOSURE COPY IS USED TO PROTECT DONOR PRIVACY.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION MAINTAINS A CONFLICT OF INTEREST POLICY WHICH REQUIRES BOARD MEMBERS TO DISCLOSE POTENTIAL CONFLICTS ON AN ANNUAL BASIS. BOARD MEMBERS ARE ALSO REQUIRED TO DISCLOSE POTENTIAL CONFLICTS AS THEY ARISE. IN THE EVENT OF A CONFLICT, THE INDIVIDUAL WILL RECUSE THEMSELVES FROM VOTING ON THE MATTER.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD OF DIRECTORS HAS ESTABLISHED A COMPENSATION COMMITTEE. THE COMMITTEE UTILIZES COMPARABLE DATA AND ESTABLISHES THE HEAD OF SCHOOL'S COMPENSATION PACKAGE. COMPENSATION OF OTHER KEY EMPLOYEES IS HANDLED BY THE EXECUTIVE COMMITTEE BASED ON MARKET COMPARABLES.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 18</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FORM 990 IS AVAILABLE UPON REQUEST. ADDITIONALLY, RECENT FILINGS OF THE FORM ARE AVAILABLE ON WWW.GUIDESTAR.ORG.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XI, LINE 9:</FormAndLineReferenceDesc>
        <ExplanationTxt>CHANGE IN INTEREST IN PERPETUAL TRUST 159,686.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>