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            <City>MERIDIAN</City>
            <State>MS</State>
            <ZIPCode>39307</ZIPCode>
          </USAddress>
          <Title>DIRECTOR</Title>
          <AvgHoursPerWkDevotedToPosition>0</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
        <OfcrDirTrusteesOrKeyEmployee>
          <PersonName>SEAN PARTRIDGE</PersonName>
          <USAddress>
            <AddressLine1>910 HIGHWAY 19 NORTH</AddressLine1>
            <City>MERIDIAN</City>
            <State>MS</State>
            <ZIPCode>39307</ZIPCode>
          </USAddress>
          <Title>DIRECTOR</Title>
          <AvgHoursPerWkDevotedToPosition>0</AvgHoursPerWkDevotedToPosition>
          <Compensation>0</Compensation>
          <ContriToEmplBenefitPlansEtc>0</ContriToEmplBenefitPlansEtc>
          <ExpenseAccountOtherAllowances>0</ExpenseAccountOtherAllowances>
        </OfcrDirTrusteesOrKeyEmployee>
      </OfcrDirTrusteesKeyEmployeeInfo>
      <SummaryOfDirectCharitableActy>
        <Description1>N/A</Description1>
      </SummaryOfDirectCharitableActy>
      <SumOfProgramRelatedInvestments>
        <Description1>NONE</Description1>
      </SumOfProgramRelatedInvestments>
      <MinimumInvestmentReturn>
        <AvgMonthlyFMVOfSecurities>0</AvgMonthlyFMVOfSecurities>
        <AvgMonthlyCashBalances>1169816</AvgMonthlyCashBalances>
        <FMVAllOtherNoncharitableAssets>665872</FMVAllOtherNoncharitableAssets>
        <TotalFMVOfUnusedAssets>1835688</TotalFMVOfUnusedAssets>
        <AcquisitionIndebtedness>0</AcquisitionIndebtedness>
        <AdjTotalFMVOfUnusedAssets>1835688</AdjTotalFMVOfUnusedAssets>
        <CashDeemedCharitable>27535</CashDeemedCharitable>
        <NetNoncharitableAssets>1808153</NetNoncharitableAssets>
        <MinimumInvestmentReturn>90408</MinimumInvestmentReturn>
      </MinimumInvestmentReturn>
      <DistributableAmount>
        <MinimumInvestmentReturn>90408</MinimumInvestmentReturn>
        <TaxBasedOnInvestmentIncome>118</TaxBasedOnInvestmentIncome>
        <TotalTax>118</TotalTax>
        <DistributableAmountBeforeAdj>90290</DistributableAmountBeforeAdj>
        <DistributableAmountBeforeDed>90290</DistributableAmountBeforeDed>
        <DistributableAmountAsAdjusted>90290</DistributableAmountAsAdjusted>
      </DistributableAmount>
      <QualifyingDistributions>
        <ExpensesAndContributions>0</ExpensesAndContributions>
        <ProgramRelatedInvestmentsTotal>0</ProgramRelatedInvestmentsTotal>
        <AmountsPaidAcqCharitableAssets>55000</AmountsPaidAcqCharitableAssets>
        <AmountsSetAsideSuitabilityTest>0</AmountsSetAsideSuitabilityTest>
        <AmountsSetAsideCashDistriTest>0</AmountsSetAsideCashDistriTest>
        <QualifyingDistributions>55000</QualifyingDistributions>
        <AdjQualifyingDistributions>55000</AdjQualifyingDistributions>
      </QualifyingDistributions>
      <UndistributedIncome>
        <DistributableAmountAsAdjusted>90290</DistributableAmountAsAdjusted>
        <UndistributedIncomePriorYear>0</UndistributedIncomePriorYear>
        <PriorYear1>2010</PriorYear1>
        <PriorYear2>2009</PriorYear2>
        <PriorYear3>2008</PriorYear3>
        <TotalForPriorYears>0</TotalForPriorYears>
        <ExcessDistriCarryoverYear5>208000</ExcessDistriCarryoverYear5>
        <ExcessDistriCarryoverYear4>142500</ExcessDistriCarryoverYear4>
        <ExcessDistriCarryoverYear2>265050</ExcessDistriCarryoverYear2>
        <ExcessDistriCarryoverYear1>76613</ExcessDistriCarryoverYear1>
        <TotalExcessDistriCarryover>692163</TotalExcessDistriCarryover>
        <QualifyingDistributions>55000</QualifyingDistributions>
        <AppliedToYear1>0</AppliedToYear1>
        <AppliedToCurrentYear>55000</AppliedToCurrentYear>
        <RemainingDistriFromCorpus>0</RemainingDistriFromCorpus>
        <ExcessDistriCyovAppCYCorpus>35290</ExcessDistriCyovAppCYCorpus>
        <ExcessDistriCyovAppliedCY>35290</ExcessDistriCyovAppliedCY>
        <TotalCorpus>656873</TotalCorpus>
        <PriorYearUndistributedIncome>0</PriorYearUndistributedIncome>
        <TaxableAmount1>0</TaxableAmount1>
        <TaxableAmount2>0</TaxableAmount2>
        <UndistributedIncomeCY>0</UndistributedIncomeCY>
        <ExcessDistriCyovFromYear5>172710</ExcessDistriCyovFromYear5>
        <ExcessDistriCyovToNextYear>484163</ExcessDistriCyovToNextYear>
        <ExcessFromYear4>142500</ExcessFromYear4>
        <ExcessFromYear2>265050</ExcessFromYear2>
        <ExcessFromYear1>76613</ExcessFromYear1>
      </UndistributedIncome>
      <PrivateOperatingFoundations />
      <SupplementaryInformation>
        <ContributingManager>NONE</ContributingManager>
        <ShareholderManager>NONE</ShareholderManager>
        <AppicationSubmissionInfo>
          <RecipientName>VICTORIA LIDDELL</RecipientName>
          <RecipientUSAddress>
            <AddressLine1>910 HWY 19 NORTH</AddressLine1>
            <City>MERIDIAN</City>
            <State>MS</State>
            <ZIPCode>39301</ZIPCode>
          </RecipientUSAddress>
          <RecipientPhoneNumber>6014811365</RecipientPhoneNumber>
          <FormAndInfoAndMaterials>INFORMATION AND MATERIALS REQUIRED TO BE SUBMITTED FOR LOAN APPROVAL INCLUDE: FINANCIAL STATEMENTS, RESIDENTIAL APPRAISAL, EQUIFAX REPORTS, DEEDS, CERTIFICATE OF TITLE, TRUTH AND LENDING DISCLOSURE, EMDC LOAN APPLICATION FORM, AND CERTIFICATE OF PARTICIPATION DOCUMENTS FROM THE BANK WHICH IS PARTICIPATING IN THE LOAN TO BE MADE.</FormAndInfoAndMaterials>
          <SubmissionDeadlines>NONE: ON AN AS-NEEDED BASIS</SubmissionDeadlines>
          <RestrictionsOnAwards>GEOGRAPHICAL AREA- 9-COUNTY REGION IN EAST MISSISSIPPI</RestrictionsOnAwards>
        </AppicationSubmissionInfo>
        <AppicationSubmissionInfo>
          <RecipientName>EMDCENTREPRENEUR PROGRAM DIRECTOR</RecipientName>
          <RecipientUSAddress>
            <AddressLine1>910 HWY 19 NORTH</AddressLine1>
            <City>MERIDIAN</City>
            <State>MS</State>
            <ZIPCode>39301</ZIPCode>
          </RecipientUSAddress>
          <RecipientPhoneNumber>6014811365</RecipientPhoneNumber>
          <FormAndInfoAndMaterials>INFORMATION AND MATERIALS REQUIRED TO BE SUBMITTED FOR LOAN APPROVAL INCLUDE: FINANCIAL STATEMENTS, RESIDENTIAL APPRAISAL, EQUIFAX REPORTS, DEEDS, CERTIFICATE OF TITLE, TRUTH AND LENDING DISCLOSURE, EMDC LOAN APPLICATION FORM, AND CERTIFICATE OF PARTICIPATION DOCUMENTS FROM THE BANK WHICH IS PARTICIPATING IN THE LOAN TO BE MADE.</FormAndInfoAndMaterials>
          <SubmissionDeadlines>NONE: ON AN AS-NEEDED BASIS</SubmissionDeadlines>
          <RestrictionsOnAwards>GEOGRAPHICAL AREA- 9-COUNTY REGION IN EAST MISSISSIPPI</RestrictionsOnAwards>
        </AppicationSubmissionInfo>
        <AppicationSubmissionInfo>
          <RecipientName>MERIDIAN COMMUNITY COLLEGE</RecipientName>
          <RecipientUSAddress>
            <AddressLine1>910 HWY 19 NORTH</AddressLine1>
            <City>MERIDIAN</City>
            <State>MS</State>
            <ZIPCode>39301</ZIPCode>
          </RecipientUSAddress>
          <RecipientPhoneNumber>6014811365</RecipientPhoneNumber>
          <FormAndInfoAndMaterials>INFORMATION AND MATERIALS REQUIRED TO BE SUBMITTED FOR LOAN APPROVAL INCLUDE: FINANCIAL STATEMENTS, RESIDENTIAL APPRAISAL, EQUIFAX REPORTS, DEEDS, CERTIFICATE OF TITLE, TRUTH AND LENDING DISCLOSURE, EMDC LOAN APPLICATION FORM, AND CERTIFICATE OF PARTICIPATION DOCUMENTS FROM THE BANK WHICH IS PARTICIPATING IN THE LOAN TO BE MADE.</FormAndInfoAndMaterials>
          <SubmissionDeadlines>NONE: ON AN AS-NEEDED BASIS</SubmissionDeadlines>
          <RestrictionsOnAwards>GEOGRAPHICAL AREA- 9-COUNTY REGION IN EAST MISSISSIPPI</RestrictionsOnAwards>
        </AppicationSubmissionInfo>
      </SupplementaryInformation>
      <AnalysisIncomeProducingActy>
        <ProgramServiceRevenuePartVII>
          <Description>INTEREST ON LOANS</Description>
          <ExclusionAmount>46381</ExclusionAmount>
        </ProgramServiceRevenuePartVII>
        <ProgramServiceRevenuePartVII>
          <Description>BAD DEBT RECOVERY</Description>
          <ExclusionAmount>31639</ExclusionAmount>
        </ProgramServiceRevenuePartVII>
        <FeesContractsFromGovtAgencies />
        <MembershipDuesAndAssessments />
        <IntOnSavingsAndTempCashInvst>
          <ExclusionAmount>5882</ExclusionAmount>
        </IntOnSavingsAndTempCashInvst>
        <DividendsAndIntFromSecPartVII />
        <NetRentalIncmReDebtFincdProp />
        <NetRntlIncmReNotDebtFincdProp />
        <NetRentalIncmPersonalProperty />
        <OtherInvestmentIncomePartVII />
        <GainSalesAssetsOthThanInvntry />
        <NetIncomeLossFromSpecialEvents />
        <GrossProfitLossSalesOfInvntry />
        <SubtotalsPartXVIA>
          <ExclusionAmount>83902</ExclusionAmount>
        </SubtotalsPartXVIA>
        <TotalPartXVIA>83902</TotalPartXVIA>
      </AnalysisIncomeProducingActy>
      <TrnsfrTrRlnWithNoncharitableEO>
        <TrnsfrOfCashToNoncharitableEO>false</TrnsfrOfCashToNoncharitableEO>
        <TrnsfrOthAssetsNoncharitableEO>false</TrnsfrOthAssetsNoncharitableEO>
        <SalesOrExchangesOfAssets>false</SalesOrExchangesOfAssets>
        <PurchaseAssetsNoncharitableEO>false</PurchaseAssetsNoncharitableEO>
        <RentalOfFacilitiesEtc>false</RentalOfFacilitiesEtc>
        <ReimbursementArrangements>false</ReimbursementArrangements>
        <LoansOrLoanGuarantees>false</LoansOrLoanGuarantees>
        <PerformanceOfServicesEtc>false</PerformanceOfServicesEtc>
        <SharingOfFacilitiesEtc>false</SharingOfFacilitiesEtc>
        <RelationshipsNoncharitableEOs>false</RelationshipsNoncharitableEOs>
      </TrnsfrTrRlnWithNoncharitableEO>
    </IRS990PF>
    <IRS990ScheduleB documentId="IRS990ScheduleB">
      <Organization501c3ExemptPF>X</Organization501c3ExemptPF>
      <GeneralRule>X</GeneralRule>
      <ContributorInfo>
        <ContributorNumber>1</ContributorNumber>
        <ContributorNameIndividual>Citizens National Bank</ContributorNameIndividual>
        <ContributorAddressUS>
          <AddressLine1>512 22ND AVE</AddressLine1>
          <City>MERIDIAN</City>
          <State>MS</State>
          <ZIPCode>39301</ZIPCode>
        </ContributorAddressUS>
        <AggregateContributions>25000</AggregateContributions>
        <PersonContributionType>X</PersonContributionType>
      </ContributorInfo>
      <ContributorInfo>
        <ContributorNumber>2</ContributorNumber>
        <ContributorNameIndividual>Community Bank</ContributorNameIndividual>
        <ContributorAddressUS>
          <AddressLine1>301 22nd AVE</AddressLine1>
          <City>Meridian</City>
          <State>MS</State>
          <ZIPCode>39301</ZIPCode>
        </ContributorAddressUS>
        <AggregateContributions>25000</AggregateContributions>
        <PersonContributionType>X</PersonContributionType>
      </ContributorInfo>
      <ContributorInfo>
        <ContributorNumber>3</ContributorNumber>
        <ContributorNameIndividual>Regions Bank</ContributorNameIndividual>
        <ContributorAddressUS>
          <AddressLine1>406 22ND AVE</AddressLine1>
          <City>Meridian</City>
          <State>MS</State>
          <ZIPCode>39301</ZIPCode>
        </ContributorAddressUS>
        <AggregateContributions>25000</AggregateContributions>
        <PersonContributionType>X</PersonContributionType>
      </ContributorInfo>
    </IRS990ScheduleB>
    <AccountingFeesSchedule documentId="AccountingFeesSch">
      <AccountingFees>
        <Category>EMDC AUDIT</Category>
        <Amount>6379</Amount>
      </AccountingFees>
    </AccountingFeesSchedule>
    <AllOthProgRltdInvestmentsSch documentId="AllOthProgInvSch">
      <AllOthProgRltdInvestments>
        <Description>NONE</Description>
      </AllOthProgRltdInvestments>
    </AllOthProgRltdInvestmentsSch>
    <DepreciationSchedule documentId="DepreciationSch" />
    <LandEtcSchedule2 documentId="LandEtcSch2" />
    <MortgagesAndNotesPayableSch documentId="MortAndNotesPayblSch">
      <TotalMortgageAmount>50000</TotalMortgageAmount>
      <NotePayable>
        <LendersName>
          <Individual>NOTES PAYABLE - 3 PARTICIPATING BAN</Individual>
        </LendersName>
        <BalanceDue>50000</BalanceDue>
        <RepaymentTerms>PAYABLE AT THE END OF 50 YEARS</RepaymentTerms>
      </NotePayable>
    </MortgagesAndNotesPayableSch>
    <OtherExpensesSchedule documentId="OtherExpensesSch">
      <OtherExpenses>
        <Description>SUPPLIES</Description>
        <RevenueAndExpensesPerBooks>1502</RevenueAndExpensesPerBooks>
      </OtherExpenses>
      <OtherExpenses>
        <Description>D&amp;O INSURANCE</Description>
        <RevenueAndExpensesPerBooks>5046</RevenueAndExpensesPerBooks>
      </OtherExpenses>
      <OtherExpenses>
        <Description>LOAN LOSS EXPENSE</Description>
      </OtherExpenses>
      <OtherExpenses>
        <Description>ADMIN</Description>
        <RevenueAndExpensesPerBooks>12000</RevenueAndExpensesPerBooks>
      </OtherExpenses>
      <OtherExpenses>
        <Description>HEALTH INSURANCE</Description>
        <RevenueAndExpensesPerBooks>4272</RevenueAndExpensesPerBooks>
      </OtherExpenses>
      <OtherExpenses>
        <Description>MISC EXP</Description>
        <RevenueAndExpensesPerBooks>445</RevenueAndExpensesPerBooks>
      </OtherExpenses>
    </OtherExpensesSchedule>
    <OtherIncomeSchedule2 documentId="OtherIncomeSch2">
      <OtherIncome>
        <Description>LOAN INTEREST</Description>
        <RevenueAndExpensesPerBooks>46381</RevenueAndExpensesPerBooks>
        <AdjustedNetIncome>46381</AdjustedNetIncome>
      </OtherIncome>
      <OtherIncome>
        <Description>BAD DEBT RECOVERY</Description>
        <RevenueAndExpensesPerBooks>31639</RevenueAndExpensesPerBooks>
        <AdjustedNetIncome>31639</AdjustedNetIncome>
      </OtherIncome>
    </OtherIncomeSchedule2>
    <OtherNotesLoansRcvblLongSch documentId="OthNoteLoanRcvblLong">
      <OtherNotesLoansRcvblLong>
        <BorrowersName>
          <Business>
            <BusinessNameLine1>LOANS RECEIVABLE</BusinessNameLine1>
          </Business>
        </BorrowersName>
        <BalanceDue>662894</BalanceDue>
        <InterestRate>0</InterestRate>
      </OtherNotesLoansRcvblLong>
    </OtherNotesLoansRcvblLongSch>
    <OtherNotesLoansRcvblShortSch2 documentId="OthNoteLoanRcvbShrt2">
      <OtherNotesLoansRcvblShort>
        <NameOf501c3Organization>
          <BusinessNameLine1>LOANS RECEIVABLE</BusinessNameLine1>
        </NameOf501c3Organization>
        <BalanceDue>662894</BalanceDue>
      </OtherNotesLoansRcvblShort>
    </OtherNotesLoansRcvblShortSch2>
    <OtherProfessionalFeesSchedule documentId="OthProfFeesSch">
      <OtherProfessionalFees>
        <Category>IRS FORM 990 FEES</Category>
        <Amount>181</Amount>
      </OtherProfessionalFees>
    </OtherProfessionalFeesSchedule>
    <TaxesSchedule documentId="TaxesSchedule">
      <Taxes>
        <Category>PAYROLL TAXES</Category>
        <Amount>2469</Amount>
      </Taxes>
    </TaxesSchedule>
  </ReturnData>
</Return>