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      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>HEADSTREAM TECHNOLOGIES</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
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          <USAddress>
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            <CityNm>CHARLOTTE</CityNm>
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            <ZIPCd>48813</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>SOFTWARE</ServicesDesc>
        <CompensationAmt>190000</CompensationAmt>
      </ContractorCompensationGrp>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>MOMENTUM STRATEGY &amp; RESEARCH</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>PO BOX 100815</AddressLine1Txt>
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            <StateAbbreviationCd>CO</StateAbbreviationCd>
            <ZIPCd>80250</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>CONSULTING</ServicesDesc>
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      </ContractorCompensationGrp>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>COMMERCE CENTER LLC</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
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          <USAddress>
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          </USAddress>
        </ContractorAddress>
        <ServicesDesc>RENT</ServicesDesc>
        <CompensationAmt>106056</CompensationAmt>
      </ContractorCompensationGrp>
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        <ExclusionAmt>8798</ExclusionAmt>
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      <FeesForServicesAccountingGrp>
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        <ManagementAndGeneralAmt>19325</ManagementAndGeneralAmt>
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      <AdvertisingGrp>
        <TotalAmt>67050</TotalAmt>
        <ProgramServicesAmt>59473</ProgramServicesAmt>
        <ManagementAndGeneralAmt>7577</ManagementAndGeneralAmt>
      </AdvertisingGrp>
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        <ProgramServicesAmt>155132</ProgramServicesAmt>
        <ManagementAndGeneralAmt>19763</ManagementAndGeneralAmt>
      </OfficeExpensesGrp>
      <InformationTechnologyGrp>
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        <ProgramServicesAmt>32550</ProgramServicesAmt>
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      </InformationTechnologyGrp>
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        <ProgramServicesAmt>94087</ProgramServicesAmt>
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        <ProgramServicesAmt>191662</ProgramServicesAmt>
        <ManagementAndGeneralAmt>22885</ManagementAndGeneralAmt>
      </TravelGrp>
      <ConferencesMeetingsGrp>
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        <ProgramServicesAmt>71451</ProgramServicesAmt>
        <ManagementAndGeneralAmt>9102</ManagementAndGeneralAmt>
      </ConferencesMeetingsGrp>
      <DepreciationDepletionGrp>
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        <ProgramServicesAmt>1194759</ProgramServicesAmt>
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      <OtherExpensesGrp>
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        <ManagementAndGeneralAmt>188</ManagementAndGeneralAmt>
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      <TotalFunctionalExpensesGrp>
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        <ProgramServicesAmt>7147000</ProgramServicesAmt>
        <ManagementAndGeneralAmt>854615</ManagementAndGeneralAmt>
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      <PledgesAndGrantsReceivableGrp>
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      <LandBldgEquipAccumDeprecAmt>183267</LandBldgEquipAccumDeprecAmt>
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      <AccountsPayableAccrExpnssGrp>
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      <DeferredRevenueGrp>
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        <EOYAmt>132442</EOYAmt>
      </DeferredRevenueGrp>
      <UnsecuredNotesLoansPayableGrp>
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      </UnsecuredNotesLoansPayableGrp>
      <TotalLiabilitiesGrp>
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        <EOYAmt>956336</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
      <NoDonorRestrictionNetAssetsGrp>
        <BOYAmt>4365176</BOYAmt>
        <EOYAmt>4796945</EOYAmt>
      </NoDonorRestrictionNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
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      <TotLiabNetAssetsFundBalanceGrp>
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        <EOYAmt>5753281</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <ReconcilationRevenueExpnssAmt>431769</ReconcilationRevenueExpnssAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
      <FSAuditedInd>true</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>true</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>true</FederalGrantAuditRequiredInd>
      <FederalGrantAuditPerformedInd>true</FederalGrantAuditPerformedInd>
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    <IRS990ScheduleA documentId="RetDoc6">
      <PublicOrganization170Ind>X</PublicOrganization170Ind>
      <GiftsGrantsContriRcvd170Grp>
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        <CurrentTaxYearMinus2YearsAmt>1396696</CurrentTaxYearMinus2YearsAmt>
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      <TotalCalendarYear170Grp>
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        <CurrentTaxYearMinus1YearAmt>2326071</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>2588639</CurrentTaxYearAmt>
        <TotalAmt>8194433</TotalAmt>
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      <PublicSupportTotal170Amt>6844039</PublicSupportTotal170Amt>
      <GrossInvestmentIncome170Grp>
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        <CurrentTaxYearMinus1YearAmt>1496</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>1567</CurrentTaxYearAmt>
        <TotalAmt>3337</TotalAmt>
      </GrossInvestmentIncome170Grp>
      <OtherIncome170Grp>
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        <CurrentTaxYearMinus3YearsAmt>75768</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>20962</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>1618</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>7264</CurrentTaxYearAmt>
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      <GrossReceiptsRltdActivitiesAmt>28103222</GrossReceiptsRltdActivitiesAmt>
      <PublicSupportCY170Pct>0.81910</PublicSupportCY170Pct>
      <PublicSupportPY170Pct>0.79600</PublicSupportPY170Pct>
      <ThirtyThrPctSuprtTestsCY170Ind>X</ThirtyThrPctSuprtTestsCY170Ind>
      <Form990ScheduleAPartVIGrp>
        <FormAndLineReferenceDesc>PART II, LINE 10</FormAndLineReferenceDesc>
        <ExplanationTxt>OTHER REVENUE 157,512</ExplanationTxt>
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    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1">
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          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
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          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorUSAddress>
        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <IRS990ScheduleD documentId="RetDoc3">
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        <DepreciationAmt>89880</DepreciationAmt>
        <BookValueAmt>24227</BookValueAmt>
      </EquipmentGrp>
      <OtherLandBuildingsGrp>
        <OtherCostOrOtherBasisAmt>93840</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>93387</DepreciationAmt>
        <BookValueAmt>453</BookValueAmt>
      </OtherLandBuildingsGrp>
      <TotalBookValueLandBuildingsAmt>24680</TotalBookValueLandBuildingsAmt>
      <TotalRevEtcAuditedFinclStmtAmt>8433384</TotalRevEtcAuditedFinclStmtAmt>
      <RevenueSubtotalAmt>8433384</RevenueSubtotalAmt>
      <TotalRevenuePerForm990Amt>8433384</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>8001615</TotExpnsEtcAuditedFinclStmtAmt>
      <ExpensesSubtotalAmt>8001615</ExpensesSubtotalAmt>
      <TotalExpensesPerForm990Amt>8001615</TotalExpensesPerForm990Amt>
    </IRS990ScheduleD>
    <IRS990ScheduleJ documentId="RetDoc4">
      <CompensationCommitteeInd>X</CompensationCommitteeInd>
      <WrittenEmploymentContractInd>X</WrittenEmploymentContractInd>
      <BoardOrCommitteeApprovalInd>X</BoardOrCommitteeApprovalInd>
      <SeverancePaymentInd>false</SeverancePaymentInd>
      <SupplementalNonqualRtrPlanInd>false</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>false</EquityBasedCompArrngmInd>
      <CompBasedOnRevenueOfFlngOrgInd>false</CompBasedOnRevenueOfFlngOrgInd>
      <CompBsdOnRevRelatedOrgsInd>false</CompBsdOnRevRelatedOrgsInd>
      <CompBsdNetEarnsFlngOrgInd>false</CompBsdNetEarnsFlngOrgInd>
      <CompBsdNetEarnsRltdOrgsInd>false</CompBsdNetEarnsRltdOrgsInd>
      <AnyNonFixedPaymentsInd>false</AnyNonFixedPaymentsInd>
      <InitialContractExceptionInd>false</InitialContractExceptionInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>JAMES GOENNER</PersonNm>
        <TitleTxt>PRESIDENT/CEO</TitleTxt>
        <BaseCompensationFilingOrgAmt>273392</BaseCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>27785</DeferredCompensationFlngOrgAmt>
        <NontaxableBenefitsFilingOrgAmt>28716</NontaxableBenefitsFilingOrgAmt>
        <TotalCompensationFilingOrgAmt>329893</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>MARY BRADLEY</PersonNm>
        <TitleTxt>COO</TitleTxt>
        <BaseCompensationFilingOrgAmt>194318</BaseCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>19896</DeferredCompensationFlngOrgAmt>
        <NontaxableBenefitsFilingOrgAmt>20311</NontaxableBenefitsFilingOrgAmt>
        <TotalCompensationFilingOrgAmt>234525</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>MARK WEINBERG</PersonNm>
        <TitleTxt>VP FOR LEADERSHIP</TitleTxt>
        <BaseCompensationFilingOrgAmt>147931</BaseCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>14779</DeferredCompensationFlngOrgAmt>
        <NontaxableBenefitsFilingOrgAmt>23231</NontaxableBenefitsFilingOrgAmt>
        <TotalCompensationFilingOrgAmt>185941</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>NAOMI DEVEAUX</PersonNm>
        <TitleTxt>VP AUTH &amp; ACCT</TitleTxt>
        <BaseCompensationFilingOrgAmt>192885</BaseCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>19745</DeferredCompensationFlngOrgAmt>
        <NontaxableBenefitsFilingOrgAmt>18940</NontaxableBenefitsFilingOrgAmt>
        <TotalCompensationFilingOrgAmt>231570</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>SHERRY SCHOCK</PersonNm>
        <TitleTxt>EXECUTIVE DIRECTOR</TitleTxt>
        <BaseCompensationFilingOrgAmt>164619</BaseCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>16923</DeferredCompensationFlngOrgAmt>
        <NontaxableBenefitsFilingOrgAmt>18262</NontaxableBenefitsFilingOrgAmt>
        <TotalCompensationFilingOrgAmt>199804</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>WENDY LARVICK</PersonNm>
        <TitleTxt>DIRECTOR OF POLICY</TitleTxt>
        <BaseCompensationFilingOrgAmt>118159</BaseCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>12066</DeferredCompensationFlngOrgAmt>
        <NontaxableBenefitsFilingOrgAmt>20487</NontaxableBenefitsFilingOrgAmt>
        <TotalCompensationFilingOrgAmt>150712</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
    </IRS990ScheduleJ>
    <IRS990ScheduleO documentId="RetDoc5">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>THE INSTITUTE FOR EXCELLENCE IN EDUCATION IS COMPRISED OF CATEGORY A AND CATEGORY B MEMBERS. CATEGORY A MEMBERS ARE CENTRAL MICHIGAN UNIVERSITY'S PRESIDENT AND MEMBERS OF THE UNIVERSITY'S BOARD OF TRUSTEES. CATEGORY B MEMBERS CONSIST OF THE PERSONS WHO SERVE AS MEMBERS OF THE BOARD OF DIRECTORS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 7A</FormAndLineReferenceDesc>
        <ExplanationTxt>ONE-THIRD OF THE POSITIONS OF THE BOARD OF DIRECTORS SHALL BE FILLED BY PERSONS ELECTED BY CATEGORY A MEMBERS. TWO-THIRDS OF THE POSITIONS ON THE BOARD OF DIRECTORS SHALL BE ELECTED BY CATEGORY B MEMBERS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FORM 990 WILL FIRST BE REVIEWED BY THE DIRECTOR OF ADMINISTRATION AND THE FINANCIAL MANAGER. THEN THE FORM 990 WILL BE REVIEWED BY THE PRESIDENT/CEO.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>BOARD MEMBERS ABSTAIN FROM VOTING ON MATTERS WHERE A CONFLICT OF INTEREST EXISTS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 15A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD OF DIRECTORS ELECTS A COMMITTEE TO EVALUATE THE CEO. THE COMMITTEE MEMBERS RESEARCH THE PAY AND BENEFITS OF LIKE POSITIONS. BASED ON PERFORMANCE AND RESEARCH THEY RECOMMEND THE COMPENSATION TO THE FULL BOARD WHO THEN TAKES ACTION/APPROVAL.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 15B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD OF DIRECTORS AND THE APPROPRIATE LEVEL OF MANAGEMENT DRAFT UP EMPLOYMENT AGREEMENTS FOR EACH OFFICER AND KEY EMPLOYEE WHICH IS THEN SIGNED BY THE EMPLOYEE. THE CONTRACT/RATE IS REVIEWED ON A REGULAR BASES CAUSING INCREASES OR DECREASES IN WAGES</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART IX, LINE 11G</FormAndLineReferenceDesc>
        <ExplanationTxt>PROFESSIONAL FEES FOR SERVICE 1,066,901 135,919 0</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>
