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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>STEPHANIE SKINNER</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>STEVEN SUN</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>ROBERT WILLIAMSON</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>MICHELE WILLIAMS</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>EDWARD DIYANNI</PersonNm>
        <TitleTxt>CFOO</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>312795</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>166887</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>AMY ELMORE</PersonNm>
        <TitleTxt>DIR OF ADVANCEMENT</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <KeyEmployeeInd>X</KeyEmployeeInd>
        <ReportableCompFromOrgAmt>198961</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>167807</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>NATHAN GAULT</PersonNm>
        <TitleTxt>CHIEF INFORMATION OFFICER</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <KeyEmployeeInd>X</KeyEmployeeInd>
        <ReportableCompFromOrgAmt>196256</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>146407</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>AMY GRAHAM</PersonNm>
        <TitleTxt>DIR OF ENROLLMENT MANAGEMENT</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <KeyEmployeeInd>X</KeyEmployeeInd>
        <ReportableCompFromOrgAmt>186720</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>151542</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>AIMEE BATES</PersonNm>
        <TitleTxt>HEAD OF UPPER DIVISION</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <KeyEmployeeInd>X</KeyEmployeeInd>
        <ReportableCompFromOrgAmt>179108</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>179916</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>MOLLY BUNNELL-BOZZO</PersonNm>
        <TitleTxt>CHIEF CULTURE OFFICER</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <HighestCompensatedEmployeeInd>X</HighestCompensatedEmployeeInd>
        <ReportableCompFromOrgAmt>216231</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>83771</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>SUSAN KHANNA</PersonNm>
        <TitleTxt>DIR OF HUMAN RESOURCES</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <HighestCompensatedEmployeeInd>X</HighestCompensatedEmployeeInd>
        <ReportableCompFromOrgAmt>206826</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>64021</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>CHRIS MADILL</PersonNm>
        <TitleTxt>DIR OF FACILITIES &amp; CAPITAL PROJECTS</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <HighestCompensatedEmployeeInd>X</HighestCompensatedEmployeeInd>
        <ReportableCompFromOrgAmt>204899</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>67323</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>ALLYN WENZEL</PersonNm>
        <TitleTxt>DIR OF TECHNOLOGY</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <HighestCompensatedEmployeeInd>X</HighestCompensatedEmployeeInd>
        <ReportableCompFromOrgAmt>159375</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>37923</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>MATTHEW SCLAFANI</PersonNm>
        <TitleTxt>CONTROLLER / DIR OF FINANCIAL AID</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <HighestCompensatedEmployeeInd>X</HighestCompensatedEmployeeInd>
        <ReportableCompFromOrgAmt>149282</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>90948</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <TotalReportableCompFromOrgAmt>2517739</TotalReportableCompFromOrgAmt>
      <TotReportableCompRltdOrgAmt>0</TotReportableCompRltdOrgAmt>
      <TotalOtherCompensationAmt>1396366</TotalOtherCompensationAmt>
      <IndivRcvdGreaterThan100KCnt>40</IndivRcvdGreaterThan100KCnt>
      <FormerOfcrEmployeesListedInd>0</FormerOfcrEmployeesListedInd>
      <TotalCompGreaterThan150KInd>1</TotalCompGreaterThan150KInd>
      <CompensationFromOtherSrcsInd>0</CompensationFromOtherSrcsInd>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>HATHAWAY DINWIDDIE CONSTRUCTION</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>275 BATTERY ST STE 300</AddressLine1Txt>
            <CityNm>SAN FRANCISCO</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94111</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>CONSTRUCTION</ServicesDesc>
        <CompensationAmt>7467451</CompensationAmt>
      </ContractorCompensationGrp>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>FLIK INDEPENDENT SCHOOL DINING</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>COMPASS GROUP USA PO BOX 50196</AddressLine1Txt>
            <CityNm>LOAS ANGELES</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90074</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>DINING SERVICES</ServicesDesc>
        <CompensationAmt>3535656</CompensationAmt>
      </ContractorCompensationGrp>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>AVILA BROTHERS</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>12 THOMAS OWENS WAY STE 200</AddressLine1Txt>
            <CityNm>MONTEREY</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>93940</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>CONSTRUCTION</ServicesDesc>
        <CompensationAmt>1155192</CompensationAmt>
      </ContractorCompensationGrp>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>BOHLIN CYWINSKI JACKSON</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>8 WEST MARKET ST STE 1200</AddressLine1Txt>
            <CityNm>WILKESBARRE</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>18701</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>ARCHITECTURAL</ServicesDesc>
        <CompensationAmt>819389</CompensationAmt>
      </ContractorCompensationGrp>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>WEDGE CREATIVE</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>167 WEST BLITHEDALE AVE</AddressLine1Txt>
            <CityNm>MILL VALLEY</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>94941</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>MARKETING</ServicesDesc>
        <CompensationAmt>141000</CompensationAmt>
      </ContractorCompensationGrp>
      <CntrctRcvdGreaterThan100KCnt>14</CntrctRcvdGreaterThan100KCnt>
      <AllOtherContributionsAmt>10706924</AllOtherContributionsAmt>
      <NoncashContributionsAmt>3062900</NoncashContributionsAmt>
      <TotalContributionsAmt>10706924</TotalContributionsAmt>
      <ProgramServiceRevenueGrp>
        <Desc>TUITION, ROOM, &amp; BOARD</Desc>
        <BusinessCd>611110</BusinessCd>
        <TotalRevenueColumnAmt>41078540</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>41078540</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <ProgramServiceRevenueGrp>
        <Desc>OTHER PROGRAM REVENUES</Desc>
        <BusinessCd>611110</BusinessCd>
        <TotalRevenueColumnAmt>563660</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>563660</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <TotalProgramServiceRevenueAmt>41642200</TotalProgramServiceRevenueAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>1856312</TotalRevenueColumnAmt>
        <UnrelatedBusinessRevenueAmt>5215</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>1851097</ExclusionAmt>
      </InvestmentIncomeGrp>
      <GrossRentsGrp>
        <RealAmt>459140</RealAmt>
      </GrossRentsGrp>
      <LessRentalExpensesGrp>
        <RealAmt>421550</RealAmt>
      </LessRentalExpensesGrp>
      <RentalIncomeOrLossGrp>
        <RealAmt>37590</RealAmt>
      </RentalIncomeOrLossGrp>
      <NetRentalIncomeOrLossGrp>
        <TotalRevenueColumnAmt>37590</TotalRevenueColumnAmt>
        <UnrelatedBusinessRevenueAmt>37590</UnrelatedBusinessRevenueAmt>
      </NetRentalIncomeOrLossGrp>
      <GrossAmountSalesAssetsGrp>
        <SecuritiesAmt>60088579</SecuritiesAmt>
      </GrossAmountSalesAssetsGrp>
      <LessCostOthBasisSalesExpnssGrp>
        <SecuritiesAmt>59774632</SecuritiesAmt>
      </LessCostOthBasisSalesExpnssGrp>
      <GainOrLossGrp>
        <SecuritiesAmt>313947</SecuritiesAmt>
      </GainOrLossGrp>
      <NetGainOrLossInvestmentsGrp>
        <TotalRevenueColumnAmt>313947</TotalRevenueColumnAmt>
        <ExclusionAmt>313947</ExclusionAmt>
      </NetGainOrLossInvestmentsGrp>
      <GrossSalesOfInventoryAmt>104209</GrossSalesOfInventoryAmt>
      <CostOfGoodsSoldAmt>125105</CostOfGoodsSoldAmt>
      <NetIncomeOrLossGrp>
        <TotalRevenueColumnAmt>-20896</TotalRevenueColumnAmt>
        <ExclusionAmt>-20896</ExclusionAmt>
      </NetIncomeOrLossGrp>
      <OtherRevenueMiscGrp>
        <Desc>CONCESSIONS</Desc>
        <BusinessCd>900099</BusinessCd>
        <TotalRevenueColumnAmt>82298</TotalRevenueColumnAmt>
        <ExclusionAmt>82298</ExclusionAmt>
      </OtherRevenueMiscGrp>
      <OtherRevenueTotalAmt>82298</OtherRevenueTotalAmt>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>54618375</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>41642200</RelatedOrExemptFuncIncomeAmt>
        <UnrelatedBusinessRevenueAmt>42805</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>2226446</ExclusionAmt>
      </TotalRevenueGrp>
      <GrantsToDomesticIndividualsGrp>
        <TotalAmt>8252369</TotalAmt>
        <ProgramServicesAmt>8252369</ProgramServicesAmt>
      </GrantsToDomesticIndividualsGrp>
      <CompCurrentOfcrDirectorsGrp>
        <TotalAmt>2095900</TotalAmt>
        <ProgramServicesAmt>343320</ProgramServicesAmt>
        <ManagementAndGeneralAmt>1019035</ManagementAndGeneralAmt>
        <FundraisingAmt>733545</FundraisingAmt>
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      <OtherSalariesAndWagesGrp>
        <TotalAmt>17837038</TotalAmt>
        <ProgramServicesAmt>11743687</ProgramServicesAmt>
        <ManagementAndGeneralAmt>5337123</ManagementAndGeneralAmt>
        <FundraisingAmt>756228</FundraisingAmt>
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      <PensionPlanContributionsGrp>
        <TotalAmt>1604927</TotalAmt>
        <ProgramServicesAmt>1088812</ProgramServicesAmt>
        <ManagementAndGeneralAmt>502529</ManagementAndGeneralAmt>
        <FundraisingAmt>13586</FundraisingAmt>
      </PensionPlanContributionsGrp>
      <OtherEmployeeBenefitsGrp>
        <TotalAmt>5570411</TotalAmt>
        <ProgramServicesAmt>3243632</ProgramServicesAmt>
        <ManagementAndGeneralAmt>2231134</ManagementAndGeneralAmt>
        <FundraisingAmt>95645</FundraisingAmt>
      </OtherEmployeeBenefitsGrp>
      <PayrollTaxesGrp>
        <TotalAmt>1319738</TotalAmt>
        <ProgramServicesAmt>831810</ProgramServicesAmt>
        <ManagementAndGeneralAmt>429159</ManagementAndGeneralAmt>
        <FundraisingAmt>58769</FundraisingAmt>
      </PayrollTaxesGrp>
      <FeesForServicesAccountingGrp>
        <TotalAmt>68500</TotalAmt>
        <ManagementAndGeneralAmt>68500</ManagementAndGeneralAmt>
      </FeesForServicesAccountingGrp>
      <FeesForSrvcInvstMgmntFeesGrp>
        <TotalAmt>167570</TotalAmt>
        <ManagementAndGeneralAmt>167570</ManagementAndGeneralAmt>
      </FeesForSrvcInvstMgmntFeesGrp>
      <FeesForServicesOtherGrp>
        <TotalAmt>273578</TotalAmt>
        <ProgramServicesAmt>35500</ProgramServicesAmt>
        <ManagementAndGeneralAmt>238078</ManagementAndGeneralAmt>
      </FeesForServicesOtherGrp>
      <AdvertisingGrp>
        <TotalAmt>1725600</TotalAmt>
        <ProgramServicesAmt>80000</ProgramServicesAmt>
        <ManagementAndGeneralAmt>662479</ManagementAndGeneralAmt>
        <FundraisingAmt>983121</FundraisingAmt>
      </AdvertisingGrp>
      <InformationTechnologyGrp>
        <TotalAmt>697418</TotalAmt>
        <ProgramServicesAmt>642783</ProgramServicesAmt>
        <ManagementAndGeneralAmt>54635</ManagementAndGeneralAmt>
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      <OccupancyGrp>
        <TotalAmt>2164032</TotalAmt>
        <ProgramServicesAmt>1978201</ProgramServicesAmt>
        <ManagementAndGeneralAmt>161223</ManagementAndGeneralAmt>
        <FundraisingAmt>24608</FundraisingAmt>
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      <TravelGrp>
        <TotalAmt>140426</TotalAmt>
        <ProgramServicesAmt>129822</ProgramServicesAmt>
        <ManagementAndGeneralAmt>9200</ManagementAndGeneralAmt>
        <FundraisingAmt>1404</FundraisingAmt>
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      <InterestGrp>
        <TotalAmt>1273548</TotalAmt>
        <ProgramServicesAmt>1177374</ProgramServicesAmt>
        <ManagementAndGeneralAmt>83439</ManagementAndGeneralAmt>
        <FundraisingAmt>12735</FundraisingAmt>
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      <DepreciationDepletionGrp>
        <TotalAmt>3720294</TotalAmt>
        <ProgramServicesAmt>3439348</ProgramServicesAmt>
        <ManagementAndGeneralAmt>243743</ManagementAndGeneralAmt>
        <FundraisingAmt>37203</FundraisingAmt>
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      <InsuranceGrp>
        <TotalAmt>1061397</TotalAmt>
        <ProgramServicesAmt>981243</ProgramServicesAmt>
        <ManagementAndGeneralAmt>69540</ManagementAndGeneralAmt>
        <FundraisingAmt>10614</FundraisingAmt>
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      <OtherExpensesGrp>
        <Desc>FOOD SERVICES</Desc>
        <TotalAmt>2872178</TotalAmt>
        <ProgramServicesAmt>2655277</ProgramServicesAmt>
        <ManagementAndGeneralAmt>188178</ManagementAndGeneralAmt>
        <FundraisingAmt>28723</FundraisingAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>ACTIVITIES/INSTRUCTION</Desc>
        <TotalAmt>2063895</TotalAmt>
        <ProgramServicesAmt>2063895</ProgramServicesAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>BAD DEBT EXPENSE</Desc>
        <TotalAmt>800000</TotalAmt>
        <ManagementAndGeneralAmt>800000</ManagementAndGeneralAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>OTHER ADMINISTRATION</Desc>
        <TotalAmt>364450</TotalAmt>
        <ManagementAndGeneralAmt>364450</ManagementAndGeneralAmt>
      </OtherExpensesGrp>
      <AllOtherExpensesGrp>
        <TotalAmt>314365</TotalAmt>
        <ProgramServicesAmt>289702</ProgramServicesAmt>
        <ManagementAndGeneralAmt>24663</ManagementAndGeneralAmt>
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      <TotalFunctionalExpensesGrp>
        <TotalAmt>54387634</TotalAmt>
        <ProgramServicesAmt>38976775</ProgramServicesAmt>
        <ManagementAndGeneralAmt>12654678</ManagementAndGeneralAmt>
        <FundraisingAmt>2756181</FundraisingAmt>
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      <CashNonInterestBearingGrp>
        <BOYAmt>1755339</BOYAmt>
        <EOYAmt>749586</EOYAmt>
      </CashNonInterestBearingGrp>
      <SavingsAndTempCashInvstGrp>
        <BOYAmt>14743236</BOYAmt>
        <EOYAmt>9431327</EOYAmt>
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      <PledgesAndGrantsReceivableGrp>
        <BOYAmt>11944116</BOYAmt>
        <EOYAmt>6823147</EOYAmt>
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      <AccountsReceivableGrp>
        <BOYAmt>150686</BOYAmt>
        <EOYAmt>202464</EOYAmt>
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      <PrepaidExpensesDefrdChargesGrp>
        <BOYAmt>470053</BOYAmt>
        <EOYAmt>764871</EOYAmt>
      </PrepaidExpensesDefrdChargesGrp>
      <LandBldgEquipCostOrOtherBssAmt>155707058</LandBldgEquipCostOrOtherBssAmt>
      <LandBldgEquipAccumDeprecAmt>62089871</LandBldgEquipAccumDeprecAmt>
      <LandBldgEquipBasisNetGrp>
        <BOYAmt>77421410</BOYAmt>
        <EOYAmt>93617187</EOYAmt>
      </LandBldgEquipBasisNetGrp>
      <InvestmentsPubTradedSecGrp>
        <BOYAmt>47554602</BOYAmt>
        <EOYAmt>49964588</EOYAmt>
      </InvestmentsPubTradedSecGrp>
      <InvestmentsOtherSecuritiesGrp>
        <BOYAmt>13611560</BOYAmt>
        <EOYAmt>17422548</EOYAmt>
      </InvestmentsOtherSecuritiesGrp>
      <OtherAssetsTotalGrp>
        <BOYAmt>1469914</BOYAmt>
        <EOYAmt>1469914</EOYAmt>
      </OtherAssetsTotalGrp>
      <TotalAssetsGrp>
        <BOYAmt>169120916</BOYAmt>
        <EOYAmt>180445632</EOYAmt>
      </TotalAssetsGrp>
      <AccountsPayableAccrExpnssGrp>
        <BOYAmt>3213308</BOYAmt>
        <EOYAmt>4898160</EOYAmt>
      </AccountsPayableAccrExpnssGrp>
      <DeferredRevenueGrp>
        <BOYAmt>12559958</BOYAmt>
        <EOYAmt>17429919</EOYAmt>
      </DeferredRevenueGrp>
      <TaxExemptBondLiabilitiesGrp>
        <BOYAmt>27830304</BOYAmt>
        <EOYAmt>27841590</EOYAmt>
      </TaxExemptBondLiabilitiesGrp>
      <OtherLiabilitiesGrp>
        <BOYAmt>390181</BOYAmt>
        <EOYAmt>464556</EOYAmt>
      </OtherLiabilitiesGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>43993751</BOYAmt>
        <EOYAmt>50634225</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
      <NoDonorRestrictionNetAssetsGrp>
        <BOYAmt>60621712</BOYAmt>
        <EOYAmt>57345331</EOYAmt>
      </NoDonorRestrictionNetAssetsGrp>
      <DonorRestrictionNetAssetsGrp>
        <BOYAmt>64505453</BOYAmt>
        <EOYAmt>72466076</EOYAmt>
      </DonorRestrictionNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>125127165</BOYAmt>
        <EOYAmt>129811407</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>169120916</BOYAmt>
        <EOYAmt>180445632</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
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      <OtherSecuritiesGrp>
        <Desc>SPLIT INTEREST AGREEMENTS</Desc>
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        <ExplanationTxt>THE ART AND RARE BOOK COLLECTION IS USED FOR DECORATION IN KEY BUILDINGS AROUND CAMPUS AND TO FURTHER STUDENTS AND THE COMMUNITY'S KNOWLEDGE AND APPRECIATION OF THE CULTURE, HISTORY, AND TRADITIONS OF THE SCHOOL, IT'S NAMESAKE, AND THE GEOGRAPHIC AREA IN WHICH IT IS LOCATED.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART V, LINE 4:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE SCHOOL'S ENDOWMENT CONSISTS OF SEVERAL INDIVIDUALFUNDS ESTABLISHED FOR A VARIETY OF REASONS, INCLUDING FINANCIAL AID, FACULTY ENRICHMENT, GENERAL OPERATIONS AND SPECIFIC SCHOOL PROGRAMS. THE SCHOOL'S ENDOWMENT INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND INVESTMENTS WITHOUT DONOR RESTRICTIONS THAT MANAGEMENT AND THE BOARD OF TRUSTEES TREATS AS DESIGNATED TO FUNCTION AS ENDOWMENTS. AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP), NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART X, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE SCHOOL IS A QUALIFIED SCHOOL EXEMPT FROM FEDERAL INCOME AND CALIFORNIA FRANCHISE TAXES UNDER THE PROVISIONS OF SECTIONS 501(C)(3) OF THE INTERNAL REVENUE CODE AND 23701(D) OF THE CALIFORNIA REVENUE AND TAXATION CODE, RESPECTIVELY. THE SCHOOL HAS EVALUATED ITS CURRENT TAX POSITIONS AND HAS CONCLUDED THAT AS OF JUNE 30, 2025, THE SCHOOL DOES NOT HAVE ANY SIGNIFICANT UNCERTAIN TAX POSITIONS FOR WHICH A RESERVE WOULD BE NECESSARY.</ExplanationTxt>
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      <SupplementalInformationDetail>
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      <SupplementalInformationDetail>
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        <ExplanationTxt>ADDITIONAL RENTAL EXPENSES 296,741.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XII, LINE 4B - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>FINANCIAL AID 8,252,369. BAD DEBT EXPENSE 800,000.</ExplanationTxt>
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        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>23771</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>60000</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>300002</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
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        <PersonNm>CHRIS MADILL</PersonNm>
        <TitleTxt>DIR OF FACILITIES &amp; CAPITAL PROJECTS</TitleTxt>
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        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
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        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
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        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>272222</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
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      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>SUSAN KHANNA</PersonNm>
        <TitleTxt>DIR OF HUMAN RESOURCES</TitleTxt>
        <BaseCompensationFilingOrgAmt>206826</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>21791</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>42230</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>270847</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
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      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>MATTHEW SCLAFANI</PersonNm>
        <TitleTxt>CONTROLLER / DIR OF FINANCIAL AID</TitleTxt>
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        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
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        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
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        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>240230</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
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      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>ALLYN WENZEL</PersonNm>
        <TitleTxt>DIR OF TECHNOLOGY</TitleTxt>
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        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>18491</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>19432</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>197298</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 1A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE VALUE OF THE HOUSING IS EXCLUDED UNDER SECTION 119(D) AND INCLUDED IN THE REPORTING OF NON-TAXABLE BENEFITS FOR THE FOLLOWING MEMBERS: DANIEL GRIFFITHS: $70,000 MOLLY BUNNELL-BOZZO: $60,000 NATHAN GAULT: $40,000 AMY ELMORE: $60,000 AMY GRAHAM: $45,000 AIMEE BATES: $60,000</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleJ>
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        <BondReferenceCd>A</BondReferenceCd>
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          <BusinessNameLine1Txt>CA ENTERPRISE DEVELOP AUTHORITY</BusinessNameLine1Txt>
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      <TaxExemptBondsIssuesGrp>
        <BondReferenceCd>B</BondReferenceCd>
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          <BusinessNameLine1Txt>CA ENTERPRISE DEVELOP AUTHORITY</BusinessNameLine1Txt>
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        <BondIssuerEIN>352273601</BondIssuerEIN>
        <BondIssuedDt>2016-09-22</BondIssuedDt>
        <IssuePriceAmt>14000000</IssuePriceAmt>
        <PurposeDesc>CURR REFUNDING ISSUE 2001,2011</PurposeDesc>
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        <OnBehalfOfIssuerInd>0</OnBehalfOfIssuerInd>
        <PoolFinancingInd>0</PoolFinancingInd>
      </TaxExemptBondsIssuesGrp>
      <TaxExemptBondsProceedsGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <TotalProceedsAmt>14000000</TotalProceedsAmt>
        <IssuanceCostsFromProceedsAmt>100000</IssuanceCostsFromProceedsAmt>
        <OtherSpentProceedsAmt>13900000</OtherSpentProceedsAmt>
        <SubstantialCompletionYr>2001</SubstantialCompletionYr>
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        <RefundingTaxableBondsInd>0</RefundingTaxableBondsInd>
        <FinalAllocationMadeInd>1</FinalAllocationMadeInd>
        <AdequateBooksAndRecMaintInd>1</AdequateBooksAndRecMaintInd>
      </TaxExemptBondsProceedsGrp>
      <TaxExemptBondsProceedsGrp>
        <BondReferenceCd>B</BondReferenceCd>
        <TotalProceedsAmt>14000000</TotalProceedsAmt>
        <IssuanceCostsFromProceedsAmt>100000</IssuanceCostsFromProceedsAmt>
        <OtherSpentProceedsAmt>13900000</OtherSpentProceedsAmt>
        <SubstantialCompletionYr>2001</SubstantialCompletionYr>
        <RefundingTaxExemptBondsInd>1</RefundingTaxExemptBondsInd>
        <RefundingTaxableBondsInd>0</RefundingTaxableBondsInd>
        <FinalAllocationMadeInd>1</FinalAllocationMadeInd>
        <AdequateBooksAndRecMaintInd>1</AdequateBooksAndRecMaintInd>
      </TaxExemptBondsProceedsGrp>
      <TaxExemptBondsPrivateBusUseGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <OwningBondFinancedPropertyInd>0</OwningBondFinancedPropertyInd>
        <AnyLeaseArrangementsInd>0</AnyLeaseArrangementsInd>
        <MgmtContractBondFincdPropInd>0</MgmtContractBondFincdPropInd>
        <AnyResearchAgreementsInd>0</AnyResearchAgreementsInd>
        <BondIssMeetPrvtSecPymtTestInd>0</BondIssMeetPrvtSecPymtTestInd>
        <ChangeInUseBondFinancedPropInd>0</ChangeInUseBondFinancedPropInd>
        <ProcsNonqualifiedBondRemdtdInd>1</ProcsNonqualifiedBondRemdtdInd>
      </TaxExemptBondsPrivateBusUseGrp>
      <TaxExemptBondsPrivateBusUseGrp>
        <BondReferenceCd>B</BondReferenceCd>
        <OwningBondFinancedPropertyInd>0</OwningBondFinancedPropertyInd>
        <AnyLeaseArrangementsInd>0</AnyLeaseArrangementsInd>
        <MgmtContractBondFincdPropInd>0</MgmtContractBondFincdPropInd>
        <AnyResearchAgreementsInd>0</AnyResearchAgreementsInd>
        <BondIssMeetPrvtSecPymtTestInd>0</BondIssMeetPrvtSecPymtTestInd>
        <ChangeInUseBondFinancedPropInd>0</ChangeInUseBondFinancedPropInd>
        <ProcsNonqualifiedBondRemdtdInd>1</ProcsNonqualifiedBondRemdtdInd>
      </TaxExemptBondsPrivateBusUseGrp>
      <TaxExemptBondsArbitrageGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <Form8038TFiledInd>0</Form8038TFiledInd>
        <RebateNotDueYetInd>0</RebateNotDueYetInd>
        <ExceptionToRebateInd>0</ExceptionToRebateInd>
        <NoRebateDueInd>1</NoRebateDueInd>
        <VariableRateIssueInd>1</VariableRateIssueInd>
        <HedgeIdentifiedInBksAndRecInd>1</HedgeIdentifiedInBksAndRecInd>
        <HedgeProviderName>
          <BusinessNameLine1Txt>US BANK</BusinessNameLine1Txt>
        </HedgeProviderName>
        <TermOfHedgePct>30.000000000000</TermOfHedgePct>
        <SuperintegratedHedgeInd>0</SuperintegratedHedgeInd>
        <HedgeTerminatedInd>0</HedgeTerminatedInd>
        <GrossProceedsInvestedInGICInd>0</GrossProceedsInvestedInGICInd>
        <GrossProceedsInvestedInd>0</GrossProceedsInvestedInd>
        <WrittenProcToMonitorReqsInd>1</WrittenProcToMonitorReqsInd>
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      <TaxExemptBondsArbitrageGrp>
        <BondReferenceCd>B</BondReferenceCd>
        <Form8038TFiledInd>0</Form8038TFiledInd>
        <RebateNotDueYetInd>0</RebateNotDueYetInd>
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        <NoRebateDueInd>1</NoRebateDueInd>
        <VariableRateIssueInd>1</VariableRateIssueInd>
        <HedgeIdentifiedInBksAndRecInd>1</HedgeIdentifiedInBksAndRecInd>
        <HedgeProviderName>
          <BusinessNameLine1Txt>US BANK</BusinessNameLine1Txt>
        </HedgeProviderName>
        <TermOfHedgePct>30.000000000000</TermOfHedgePct>
        <SuperintegratedHedgeInd>0</SuperintegratedHedgeInd>
        <HedgeTerminatedInd>0</HedgeTerminatedInd>
        <GrossProceedsInvestedInGICInd>0</GrossProceedsInvestedInGICInd>
        <GrossProceedsInvestedInd>0</GrossProceedsInvestedInd>
        <WrittenProcToMonitorReqsInd>1</WrittenProcToMonitorReqsInd>
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      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <ProceduresCorrectiveActionInd>1</ProceduresCorrectiveActionInd>
      </ProceduresCorrectiveActionGrp>
      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>B</BondReferenceCd>
        <ProceduresCorrectiveActionInd>1</ProceduresCorrectiveActionInd>
      </ProceduresCorrectiveActionGrp>
    </IRS990ScheduleK>
    <IRS990ScheduleL documentId="RetDoc1042800001">
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <BusinessName>
            <BusinessNameLine1Txt>ANDREW GRAHAM</BusinessNameLine1Txt>
          </BusinessName>
        </NameOfInterested>
        <RelationshipDescriptionTxt>FACULTY MEMBER / SPOUSE OF AMY GRAHAM, DIRECTOR OF ENROLLMENT</RelationshipDescriptionTxt>
        <TransactionAmt>102632</TransactionAmt>
        <TransactionDesc>FACULTY SALARY</TransactionDesc>
        <SharingOfRevenuesInd>0</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <BusinessName>
            <BusinessNameLine1Txt>JACQUELINE DIYANNI</BusinessNameLine1Txt>
          </BusinessName>
        </NameOfInterested>
        <RelationshipDescriptionTxt>LMD REGISTRAR/ SPOUSE OF EDWARD DIYANNI, CFOO</RelationshipDescriptionTxt>
        <TransactionAmt>80201</TransactionAmt>
        <TransactionDesc>LMD REGISTRAR SALARY</TransactionDesc>
        <SharingOfRevenuesInd>0</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <BusinessName>
            <BusinessNameLine1Txt>KATHRYN BELL</BusinessNameLine1Txt>
          </BusinessName>
        </NameOfInterested>
        <RelationshipDescriptionTxt>COLLEGE COUNSELOR / SPOUSE OF NATHAN GAULT, CIO</RelationshipDescriptionTxt>
        <TransactionAmt>79000</TransactionAmt>
        <TransactionDesc>COLLEGE COUNSELOR SALARY</TransactionDesc>
        <SharingOfRevenuesInd>0</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <BusinessName>
            <BusinessNameLine1Txt>JUSTIN BATES</BusinessNameLine1Txt>
          </BusinessName>
        </NameOfInterested>
        <RelationshipDescriptionTxt>FACULTY MEMBER / SPOUSE OF AIMEE BATES, UD HEAD</RelationshipDescriptionTxt>
        <TransactionAmt>88348</TransactionAmt>
        <TransactionDesc>FACULTY SALARY</TransactionDesc>
        <SharingOfRevenuesInd>0</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
    </IRS990ScheduleL>
    <IRS990ScheduleM documentId="RetDoc1042900001">
      <CarsAndOtherVehiclesGrp>
        <NonCashCheckboxInd>X</NonCashCheckboxInd>
        <ContributionCnt>1</ContributionCnt>
        <NoncashContributionsRptF990Amt>40190</NoncashContributionsRptF990Amt>
        <MethodOfDeterminingRevenuesTxt>FMV</MethodOfDeterminingRevenuesTxt>
      </CarsAndOtherVehiclesGrp>
      <SecuritiesPubliclyTradedGrp>
        <NonCashCheckboxInd>X</NonCashCheckboxInd>
        <ContributionCnt>29</ContributionCnt>
        <NoncashContributionsRptF990Amt>3022710</NoncashContributionsRptF990Amt>
        <MethodOfDeterminingRevenuesTxt>PUBLICLY TRADED EXCHANGE</MethodOfDeterminingRevenuesTxt>
      </SecuritiesPubliclyTradedGrp>
      <Form8283ReceivedCnt>0</Form8283ReceivedCnt>
      <AnyPropertyThatMustBeHeldInd>0</AnyPropertyThatMustBeHeldInd>
      <ReviewProcessUnusualNCGiftsInd>1</ReviewProcessUnusualNCGiftsInd>
      <ThirdPartiesUsedInd>0</ThirdPartiesUsedInd>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, COLUMN (B):</FormAndLineReferenceDesc>
        <ExplanationTxt>THIS NUMBER REPRESENTS THE NUMBER OF CONTRIBUTIONS, NOT THE NUMBER OF ITEMS CONTRIBUTED.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION'S FORM 990 WAS PREPARED BY PROFESSIONAL, INDEPENDENT ACCOUNTANTS. THE BOARD OF TRUSTEES DELEGATED THE REVIEW OF FORM 990 TO THE AUDIT COMMITTEE, MEMBERS OF WHICH HAVE PRACTICAL AND/OR PROFESSIONAL EXPERTISE IN NONPROFIT MANAGEMENT, ACCOUNTING, AND FEDERAL TAX LAW GOVERNING EXEMPT ORGANIZATIONS. THIS COMMITTEE REVIEWED THE FORM 990 PREPARED BY THE ORGANIZATION'S PROFESSIONAL, INDEPENDENT ACCOUNTANTS. PRIOR TO THE ORGANIZATION SUBMITTING FORM 990 TO THE IRS, THE COMMITTEE REPORTED TO THE BOARD OF TRUSTEES THAT THE COMMITTEE HAD, TO THE BEST OF ITS ABILITY, DETERMINED THAT THE FORM 990 WAS COMPLETE, ACCURATE, AND CORRECT, AND A COPY OF THE RETURN WAS PROVIDED FOR EACH BOARD MEMBER.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>THE AMENDED AND RESTATED BYLAWS OF THE CORPORATION (APPROVED 10/10/2008) AT ARTICLE IX, SECTION 4 PROVIDE: "NO TRUSTEE OF THIS CORPORATION NOR ANY OTHER CORPORATION, FIRM, ASSOCIATION, OR OTHER ENTITY IN WHICH ONE OR MORE OF THIS CORPORATION'S TRUSTEES ARE DIRECTORS, OFFICERS OR HAVE A MATERIAL FINANCIAL INTEREST, SHALL BE INTERESTED, DIRECTLY OR INDIRECTLY, IN ANY CONTRACT OR TRANSACTION WITH THIS CORPORATION, UNLESS (A) THE MATERIAL FACTS REGARDING THAT TRUSTEE'S FINANCIAL INTEREST IN SUCH CONTRACT OR TRANSACTION OR REGARDING SUCH COMMON DIRECTOR RELATIONSHIP OR OFFICER RELATIONSHIP ARE FULLY DISCLOSED IN GOOD FAITH AND NOTED IN THE MINUTES, OR ARE KNOWN TO ALL MEMBERS OF THE BOARD PRIOR TO THE BOARD'S CONSIDERATION OF SUCH CONTRACT OR TRANSACTION; (B) SUCH CONTRACT OR TRANSACTION IS AUTHORIZED IN GOOD FAITH BY A MAJORITY OF THE BOARD BY A VOTE SUFFICIENT FOR THAT PURPOSE WITHOUT COUNTING THE VOTES OF THE INTERESTED TRUSTEES; (C) BEFORE AUTHORIZING OR APPROVING THE TRANSACTION, THE BOARD CONSIDERS AND IN GOOD FAITH DECIDES AFTER REASONABLE INVESTIGATION THAT THE CORPORATION COULD NOT OBTAIN A MORE ADVANTAGEOUS ARRANGEMENT WITH REASONABLE EFFORT UNDER THE CIRCUMSTANCES; AND (D) THE CORPORATION FOR ITS OWN BENEFIT ENTERS INTO THE TRANSACTION, WHICH IS FAIR AND REASONABLE TO THE CORPORATION AT THE TIME THE TRANSACTION IS ENTERED INTO." EACH OF THE REQUIREMENTS RELATED TO BOARD DISCLOSURE, AUTHORIZATION, INVESTIGATION AND BENEFIT ANALYSIS AS DESCRIBED IN THE FOREGOING BYLAW PROVISION ARE COMPLIED WITH IN ALL INSTANCES REGARDING CONFLICTS OF INTEREST AND PERMANENTLY NOTED IN THE MINUTES OF THE BOARD OF TRUSTEES. THE BUSINESS OFFICE MONITORS KEY PRINCIPALS AND PERSONNEL INVOLVED IN ALL CONTRACTS AND TRANSACTIONS ENTERED INTO BY THE SCHOOL. ANY SITUATIONS WHICH ARE OR MIGHT BE CONSIDERED A CONFLICT OF INTEREST ARE BROUGHT TO THE ATTENTION OF THE SCHOOL PRESIDENT, BOARD CHAIRMAN AND GENERAL COUNSEL FOR APPROPRIATE CONSIDERATION, DISPOSITION, DISCLOSURE AND APPROVAL IN ACCORDANCE WITH THE SCHOOL'S POLICIES AND PROCEDURES. EFFECTIVE FEBRUARY 18, 2011, THE BOARD OF TRUSTEES OF THE SCHOOL APPROVED A RESOLUTION PROHIBITING THE SCHOOL FROM ENTERING INTO ANY NEW TRANSACTIONS WITH TRUSTEES WHEN SERVING IN OFFICE (AND CONCLUDING EXISTING TRANSACTIONS WITH TRUSTEES PRIOR TO 6-30-11) IN WHICH A TRUSTEE HOLDS ANY MATERIAL FINANCIAL INTEREST EXCEPT FOR COMPENSATION CONTRACTS AND TRANSACTIONS IN THE ORDINARY COURSE OF BUSINESS WITH EMPLOYEES OF THE SCHOOL WHO ARE ALSO TRUSTEES, CONTRACTS AND TRANSACTIONS IN WHICH SERVICES ARE PROVIDED TO THE SCHOOL WITHOUT ANY FEE PAID OR ECONOMIC BENEFIT PROVIDED IN RETURN AND PURCHASE AND LEASE AGREEMENTS FOR GOODS OR PROPERTY PROVIDED TO THE SCHOOL AT OR BELOW FAIR MARKET VALUE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15</FormAndLineReferenceDesc>
        <ExplanationTxt>15A: THE COMPENSATION OF THE SCHOOL'S PRESIDENT IS REVIEWED ANNUALLY BY THE BOARD'S COMPENSATION COMMITTEE MADE UP OF INDEPENDENT MEMBERS AND SUBMITTED TO THE BOARD OF TRUSTEES FOR APPROVAL. IN THIS REGARD, THE COMMITTEE REVIEWS THE SCHOOL'S PERFORMANCE IN KEY OPERATING AREAS AGAINST ESTABLISHED GOALS AND OBJECTIVES. IN ADDITION, THE COMMITTEE RECEIVED A COMPENSATION STUDY OF PEER INDEPENDENT SCHOOLS PREPARED BY A HIGHLY RESPECTED OUTSIDE COMPENSATION CONSULTANT WITH COMPENSATION INFORMATION INCLUDING APPLICABLE COMPENSATION DATA FOR OTHER PEER SCHOOLS. THE COMMITTEE REVIEWS AND DISCUSSES THE DATA WITH THE COMPENSATION CONSULTANT AND DOCUMENTS THEIR CONCLUSIONS AND MAKES A RECOMMENDATION TO THE FULL BOARD AS TO THE PROPER LEVEL OF COMPENSATION FOR THE PRESIDENT. 15B: COMPENSATION OF THE SCHOOL'S OTHER KEY EMPLOYEES (E.G. CHIEF FINANCIAL OFFICER, DIRECTOR OF ADVANCEMENT, DIRECTOR OF ADMISSION, HEADS UP UPPER AND MIDDLE AND LOWER DIVISIONS) IS DETERMINED BY THE SCHOOL PRESIDENT. IN MAKING HIS DECISION ON COMPENSATION, THE PRESIDENT UTILIZES BENCHMARK COMPENSATION DATA RECEIVED FROM INDEPENDENT ORGANIZATIONS SUCH AS THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS, CALIFORNIA ASSOCIATION OF INDEPENDENT SCHOOLS, ETC. THIS INFORMATION HELPS HIM DETERMINE THE REASONABLENESS OF SALARY INCREASE RECOMMENDATIONS FOR THIS GROUP OF EMPLOYEES. LASTLY, HE THEN REVIEWS EACH EMPLOYEES PERFORMANCE AND MAKES A FINAL DETERMINATION. THE PRESIDENT ALSO REVIEWS COMPENSATION DATA FOR KEY SCHOOL EMPLOYEES WITH THE BOARD OF TRUSTEES. THE COMPENSATION COMMITTEE ALSO REVIEWS THIS DATA INDEPENDENTLY TO ENSURE THE FAIRNESS AND REASONABLENESS OF THE SCHOOL PRESIDENT'S SALARY INCREASE RECOMMENDATIONS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THESE DOCUMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>