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        <ProgramServicesAmt>3517</ProgramServicesAmt>
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        <ProgramServicesAmt>1122</ProgramServicesAmt>
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        <ProgramServicesAmt>27327</ProgramServicesAmt>
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        <ProgramServicesAmt>220467</ProgramServicesAmt>
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        <ProgramServicesAmt>219377</ProgramServicesAmt>
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        <Desc>Subsidized expenses</Desc>
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      <OtherExpensesGrp>
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        <FundraisingAmt>215090</FundraisingAmt>
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      <OtherExpensesGrp>
        <Desc>Computer/Software</Desc>
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      <OtherExpensesGrp>
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      <AllOtherExpensesGrp>
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      <TotalFunctionalExpensesGrp>
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        <EOYAmt>106843</EOYAmt>
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      <TotalLiabilitiesGrp>
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      <DonorRestrictionNetAssetsGrp>
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        <EOYAmt>4656410</EOYAmt>
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      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>23213789</BOYAmt>
        <EOYAmt>32820545</EOYAmt>
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      <InfoInScheduleOPartXIInd>X</InfoInScheduleOPartXIInd>
      <ReconcilationRevenueExpnssAmt>14102409</ReconcilationRevenueExpnssAmt>
      <NetUnrlzdGainsLossesInvstAmt>170619</NetUnrlzdGainsLossesInvstAmt>
      <OtherChangesInNetAssetsAmt>-4</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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        <OtherExpendituresAmt>46091</OtherExpendituresAmt>
        <AdministrativeExpensesAmt>12218</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>3643304</EndYearBalanceAmt>
      </CYEndwmtFundGrp>
      <CYMinus1YrEndwmtFundGrp>
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        <InvestmentEarningsOrLossesAmt>277860</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>15793</OtherExpendituresAmt>
        <AdministrativeExpensesAmt>12016</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>3390793</EndYearBalanceAmt>
      </CYMinus1YrEndwmtFundGrp>
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        <BeginningYearBalanceAmt>2918446</BeginningYearBalanceAmt>
        <ContributionsAmt>53613</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>187484</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>48124</OtherExpendituresAmt>
        <AdministrativeExpensesAmt>13434</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>3097985</EndYearBalanceAmt>
      </CYMinus2YrEndwmtFundGrp>
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        <InvestmentEarningsOrLossesAmt>-354549</InvestmentEarningsOrLossesAmt>
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        <AdministrativeExpensesAmt>16062</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>2918446</EndYearBalanceAmt>
      </CYMinus3YrEndwmtFundGrp>
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        <AdministrativeExpensesAmt>11680</AdministrativeExpensesAmt>
        <EndYearBalanceAmt>3349398</EndYearBalanceAmt>
      </CYMinus4YrEndwmtFundGrp>
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      <EndowmentsHeldRelatedOrgInd>0</EndowmentsHeldRelatedOrgInd>
      <LandGrp>
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        <BookValueAmt>6170590</BookValueAmt>
      </LandGrp>
      <BuildingsGrp>
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        <DepreciationAmt>8353344</DepreciationAmt>
        <BookValueAmt>9841856</BookValueAmt>
      </BuildingsGrp>
      <EquipmentGrp>
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        <DepreciationAmt>2712392</DepreciationAmt>
        <BookValueAmt>254523</BookValueAmt>
      </EquipmentGrp>
      <OtherLandBuildingsGrp>
        <OtherCostOrOtherBasisAmt>2275908</OtherCostOrOtherBasisAmt>
        <BookValueAmt>2275908</BookValueAmt>
      </OtherLandBuildingsGrp>
      <TotalBookValueLandBuildingsAmt>18542877</TotalBookValueLandBuildingsAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>Travel Deposits</Desc>
        <Amt>28915</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>Operating Lease Liability</Desc>
        <Amt>39025</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>rounding</Desc>
        <Amt>1</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>67941</TotalLiabilityAmt>
      <TotalRevEtcAuditedFinclStmtAmt>20648508</TotalRevEtcAuditedFinclStmtAmt>
      <NetUnrealizedGainsInvstAmt>170619</NetUnrealizedGainsInvstAmt>
      <OtherRevenueAmt>-4</OtherRevenueAmt>
      <RevenueNotReportedAmt>170615</RevenueNotReportedAmt>
      <RevenueSubtotalAmt>20477893</RevenueSubtotalAmt>
      <OtherRevenuesNotIncludedAmt>399348</OtherRevenuesNotIncludedAmt>
      <RevenueNotReportedFinclStmtAmt>399348</RevenueNotReportedFinclStmtAmt>
      <TotalRevenuePerForm990Amt>20877241</TotalRevenuePerForm990Amt>
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      <ExpensesNotReportedAmt>0</ExpensesNotReportedAmt>
      <ExpensesSubtotalAmt>6774832</ExpensesSubtotalAmt>
      <ExpensesNotRptFinclStmtAmt>0</ExpensesNotRptFinclStmtAmt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part XI, Line 2d - Other Adjustments:</FormAndLineReferenceDesc>
        <ExplanationTxt>rounding -4.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part XI, Line 4b - Other Adjustments:</FormAndLineReferenceDesc>
        <ExplanationTxt>ERC Revenue 399,348.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Sch D, Part XI, Line 4b</FormAndLineReferenceDesc>
        <ExplanationTxt>This is an ERC claim reported in the current year, when received. It was shown on the prior year audited financial statements.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleD>
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      <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>Placed on all published materials and advertised in local newspaper.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleE>
    <IRS990ScheduleJ documentId="RetDoc1042400001">
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      <SubstantiationRequiredInd>0</SubstantiationRequiredInd>
      <SeverancePaymentInd>0</SeverancePaymentInd>
      <SupplementalNonqualRtrPlanInd>0</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>0</EquityBasedCompArrngmInd>
      <CompBasedOnRevenueOfFlngOrgInd>0</CompBasedOnRevenueOfFlngOrgInd>
      <CompBsdOnRevRelatedOrgsInd>0</CompBsdOnRevRelatedOrgsInd>
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      <CompBsdNetEarnsRltdOrgsInd>0</CompBsdNetEarnsRltdOrgsInd>
      <AnyNonFixedPaymentsInd>0</AnyNonFixedPaymentsInd>
      <InitialContractExceptionInd>0</InitialContractExceptionInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>Bradley Thompson</PersonNm>
        <TitleTxt>Executive VP</TitleTxt>
        <BaseCompensationFilingOrgAmt>85367</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>85250</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>4467</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>9075</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>184159</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>Michael Spradlin</PersonNm>
        <TitleTxt>President</TitleTxt>
        <BaseCompensationFilingOrgAmt>125721</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>25250</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>4106</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
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        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>167307</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part I, Line 1a</FormAndLineReferenceDesc>
        <ExplanationTxt>Housing Allowance inlcuded in W-2 wages for Officers in the 2024 Calendar Year Mike Spradlin $42,000 Brad Thomson $36,000 Mikey Mewborn $31,100 Randy Redd $50,253</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleJ>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part V, Line 4b</FormAndLineReferenceDesc>
        <ExplanationTxt>Financial Accounts in Foreign Countries: interest in hedge fund in Ireland. Balance is less than $10,000.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section B, line 11b</FormAndLineReferenceDesc>
        <ExplanationTxt>990 is e-mailed to finance committee members for approval before filing.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section B, line 12c</FormAndLineReferenceDesc>
        <ExplanationTxt>Each year, subject individuals are required to disclose conflicts of interest.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section B, line 15</FormAndLineReferenceDesc>
        <ExplanationTxt>Compensation Process for Top Official: The President is subject to an annual review by the board of trustees. The board assesses his performance and sets his salary. The executive officers and president are subject to compensation audits every 5 years. The last one was January, 2019. Compensation Process for Officers: Other officers are subject to an annual review by the President. Last one was January, 2022. The President assesses their performance and sets their salaries.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section C, line 19</FormAndLineReferenceDesc>
        <ExplanationTxt>Audited Financial Statements are available on Guidestar. Conflict of interest and governing documents are available upon request.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part XI, line 9:</FormAndLineReferenceDesc>
        <ExplanationTxt>Rounding -4.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
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        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>PO Box 2350</AddressLine1Txt>
          <CityNm>Cordova</CityNm>
          <StateAbbreviationCd>TN</StateAbbreviationCd>
          <ZIPCd>380880790</ZIPCd>
        </USAddress>
        <EIN>621673035</EIN>
        <PrimaryActivitiesTxt>Res. Rent</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>TN</LegalDomicileStateCd>
        <ExemptCodeSectionTxt>501(c)(3)</ExemptCodeSectionTxt>
        <PublicCharityStatusTxt>Line 10</PublicCharityStatusTxt>
        <DirectControllingNACd>N/A</DirectControllingNACd>
        <ControlledOrganizationInd>0</ControlledOrganizationInd>
      </IdRelatedTaxExemptOrgGrp>
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      <GiftGrntCapContriFromOthOrgInd>1</GiftGrntCapContriFromOthOrgInd>
      <LoansOrGuaranteesToOtherOrgInd>1</LoansOrGuaranteesToOtherOrgInd>
      <LoansOrGuaranteesFromOthOrgInd>0</LoansOrGuaranteesFromOthOrgInd>
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      <AssetPurchaseFromOtherOrgInd>0</AssetPurchaseFromOtherOrgInd>
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      <RentalOfFcltsFromOthOrgInd>0</RentalOfFcltsFromOthOrgInd>
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      <PerformOfServicesByOtherOrgInd>0</PerformOfServicesByOtherOrgInd>
      <SharingOfFacilitiesInd>0</SharingOfFacilitiesInd>
      <PaidEmployeesSharingInd>0</PaidEmployeesSharingInd>
      <ReimbursementPaidToOtherOrgInd>0</ReimbursementPaidToOtherOrgInd>
      <ReimbursementPaidByOtherOrgInd>0</ReimbursementPaidByOtherOrgInd>
      <TransferToOtherOrgInd>0</TransferToOtherOrgInd>
      <TransferFromOtherOrgInd>0</TransferFromOtherOrgInd>
      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>Mid-America Student Housing Inc</BusinessNameLine1Txt>
        </OtherOrganizationName>
        <TransactionTypeTxt>C</TransactionTypeTxt>
        <InvolvedAmt>17504451</InvolvedAmt>
        <MethodOfAmountDeterminationTxt>Actual Contribution</MethodOfAmountDeterminationTxt>
      </TransactionsRelatedOrgGrp>
      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>Mid-America Student Housing Inc</BusinessNameLine1Txt>
        </OtherOrganizationName>
        <TransactionTypeTxt>A</TransactionTypeTxt>
        <InvolvedAmt>15888</InvolvedAmt>
        <MethodOfAmountDeterminationTxt>Actual Interest</MethodOfAmountDeterminationTxt>
      </TransactionsRelatedOrgGrp>
      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>Mid-America Student Housing Inc</BusinessNameLine1Txt>
        </OtherOrganizationName>
        <TransactionTypeTxt>D</TransactionTypeTxt>
        <InvolvedAmt>36517</InvolvedAmt>
        <MethodOfAmountDeterminationTxt>Amount of repayment</MethodOfAmountDeterminationTxt>
      </TransactionsRelatedOrgGrp>
    </IRS990ScheduleR>
  </ReturnData>
</Return>