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        <FormAndLineReferenceDesc>PART XI, LINE 4B - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>RENT</ExplanationTxt>
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        <FormAndLineReferenceDesc>PART XII, LINE 2D - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>PIM ARTS HIGH SCHOOL EXPENSES LESS RENT 4,582,287.</ExplanationTxt>
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        <PurposeDesc>FINANCE THE ACQUISITION AND IMPROVEMENT OF AN EXISTING SCHOOL FACILITY</PurposeDesc>
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        <CapitalExpendituresAmt>8019686</CapitalExpendituresAmt>
        <SubstantialCompletionYr>2017</SubstantialCompletionYr>
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      <SupplementalInformationDetail>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 7A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE SOLE MEMBER HAS THE POWER TO REMOVE OR APPOINT DIRECTORS OF THE ORGANIZATION.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 7B</FormAndLineReferenceDesc>
        <ExplanationTxt>SUBJECT TO THE RIGHT OF THE SOLE MEMBER TO ADOPT, AMEND AND REPEAL THE BYLAWS AS SET FORTH IN MINNESOTA STATUES, SECTION 317A.181, SUBD. 2(B), THE POWER TO ADOPT, AMEND OR REPEAL THE BYLAWS IS VESTED IN THE BOARD OF DIRECTORS.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FORM 990 IS PREPARED BY THE SCHOOL'S ACCOUNTANT. ONCE THE FORM IS COMPLETED, IT IS GIVEN TO THE BUILDING COMPANY BOARD FOR REVIEW BEFORE IT IS SIGNED AND FILED BY THE DIRECTOR OF OPERATIONS.</ExplanationTxt>
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      <SupplementalInformationDetail>
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      <SupplementalInformationDetail>
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        <ExplanationTxt>THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XII, LINE 2C:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT ANNUALLY. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR.</ExplanationTxt>
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