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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XI, LINE 4B - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>GROSS UP OF TUITION ASSISTANCE CHANGE IN VALUE OF INTERES RATE SWAP</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XII, LINE 4B - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>GROSS UP OF TUITION ASSISTANCE</ExplanationTxt>
      </SupplementalInformationDetail>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE E, PART I, LINE 3</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ACADEMY IS A JEWISH DAY SCHOOL AND PRIMARILY PUBLICIZES IN THE JEWISH COMMUNITY. IT HAS A NON-DISCRIMINATORY POLICY AND THERE ARE MINORITY JEWISH STUDENTS THAT APPLY AND ATTEND.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE E, PART I, LINE 4</FormAndLineReferenceDesc>
        <ExplanationTxt>WE DON'T MAINTAIN A COMPLETE OR ACCURATE RECORD OF RACIAL COMPOSITION OF THE STUDENT BODY. WE DO NOT TRACK OR RECORD ETHNICITY FOR FACULTY OR STAFF.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleE>
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      <CompensationSurveyInd>X</CompensationSurveyInd>
      <BoardOrCommitteeApprovalInd>X</BoardOrCommitteeApprovalInd>
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      <SupplementalNonqualRtrPlanInd>0</SupplementalNonqualRtrPlanInd>
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        <IssuerName>
          <BusinessNameLine1Txt>COLORADO EDUCATIONAL AND CULTURAL FACILITIES AUTHORITY</BusinessNameLine1Txt>
        </IssuerName>
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        <BondIssuedDt>2014-02-05</BondIssuedDt>
        <IssuePriceAmt>12000000</IssuePriceAmt>
        <PurposeDesc>TO REFINANCE BORROWER DEBT FROM FJC AND THE CONDUIT FOUNDATION</PurposeDesc>
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        <UnspentAmt>11761000</UnspentAmt>
        <SubstantialCompletionYr>2021</SubstantialCompletionYr>
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        <HedgeTerminatedInd>0</HedgeTerminatedInd>
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    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 8B</FormAndLineReferenceDesc>
        <ExplanationTxt>NOT ALL COMMITTEES OF THE ACADEMY TOOK NOTES AT THEIR MEETINGS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>EACH BOARD MEMBER WAS PROVIDED A COPY OF THE 990 BEFORE IT WAS FILED WITH THE IRS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>BOARD MEMBERS AND SENIOR ADMINISTRATORS MUST SIGN THE CONFLICT OF INTEREST POLICY ANNUALLY.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15</FormAndLineReferenceDesc>
        <ExplanationTxt>HEAD OF SCHOOL CONTRACT WAS NEGOTIATED BY HEAD OF SCHOOL EVALUATION COMMITTEE IN CONSULTATION WITH HEAD OF CAIS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART IX, LINE 11G</FormAndLineReferenceDesc>
        <ExplanationTxt>CONSULTING FEES: PROGRAM SERVICE EXPENSES 812,319. MANAGEMENT AND GENERAL EXPENSES 52,976. FUNDRAISING EXPENSES 17,658. TOTAL EXPENSES 882,953.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XII: FINANCIAL STATEMENTS AND REPORTING</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION'S TAX RETURN WAS PREPARED BASED ON FINANCIAL INFORMATION PROVIDED TO US BY THE ORGANIZATION. WE DID NOT PERFORM AUDIT OR REVIEW SERVICES WITH RESPECT THE ORGANIZATION'S TAX RETURN WAS PREPARED BASED ON FINANCIAL INFORMATION PROVIDED TO US BY THE ORGANIZATION.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>
