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        <PersonNm>SVITLANA SKOROKHOD</PersonNm>
        <TitleTxt>CFO</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <OfficerInd>X</OfficerInd>
        <KeyEmployeeInd>X</KeyEmployeeInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>SVITLANA DENYSENKO</PersonNm>
        <TitleTxt>DIRECTOR OF CF</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <OfficerInd>X</OfficerInd>
        <KeyEmployeeInd>X</KeyEmployeeInd>
        <ReportableCompFromOrgAmt>35267</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <TotalReportableCompFromOrgAmt>159818</TotalReportableCompFromOrgAmt>
      <TotReportableCompRltdOrgAmt>0</TotReportableCompRltdOrgAmt>
      <TotalOtherCompensationAmt>0</TotalOtherCompensationAmt>
      <FormerOfcrEmployeesListedInd>false</FormerOfcrEmployeesListedInd>
      <TotalCompGreaterThan150KInd>false</TotalCompGreaterThan150KInd>
      <CompensationFromOtherSrcsInd>false</CompensationFromOtherSrcsInd>
      <AllOtherContributionsAmt>3396039</AllOtherContributionsAmt>
      <TotalContributionsAmt>3396039</TotalContributionsAmt>
      <ProgramServiceRevenueGrp>
        <Desc>Tuition</Desc>
        <BusinessCd>611710</BusinessCd>
        <TotalRevenueColumnAmt>1111652</TotalRevenueColumnAmt>
        <UnrelatedBusinessRevenueAmt>0</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>0</ExclusionAmt>
      </ProgramServiceRevenueGrp>
      <TotalProgramServiceRevenueAmt>1111652</TotalProgramServiceRevenueAmt>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>4507691</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>1111652</RelatedOrExemptFuncIncomeAmt>
        <UnrelatedBusinessRevenueAmt>0</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>0</ExclusionAmt>
      </TotalRevenueGrp>
      <ForeignGrantsGrp>
        <TotalAmt>170242</TotalAmt>
        <ProgramServicesAmt>170242</ProgramServicesAmt>
      </ForeignGrantsGrp>
      <CompCurrentOfcrDirectorsGrp>
        <TotalAmt>2115875</TotalAmt>
        <ProgramServicesAmt>1800761</ProgramServicesAmt>
        <ManagementAndGeneralAmt>267386</ManagementAndGeneralAmt>
        <FundraisingAmt>47728</FundraisingAmt>
      </CompCurrentOfcrDirectorsGrp>
      <OfficeExpensesGrp>
        <TotalAmt>583627</TotalAmt>
        <ProgramServicesAmt>158816</ProgramServicesAmt>
        <ManagementAndGeneralAmt>122005</ManagementAndGeneralAmt>
        <FundraisingAmt>302806</FundraisingAmt>
      </OfficeExpensesGrp>
      <OccupancyGrp>
        <TotalAmt>277431</TotalAmt>
        <ProgramServicesAmt>142315</ProgramServicesAmt>
        <ManagementAndGeneralAmt>135116</ManagementAndGeneralAmt>
        <FundraisingAmt>0</FundraisingAmt>
      </OccupancyGrp>
      <TravelGrp>
        <TotalAmt>67543</TotalAmt>
        <ProgramServicesAmt>8893</ProgramServicesAmt>
        <ManagementAndGeneralAmt>45490</ManagementAndGeneralAmt>
        <FundraisingAmt>13160</FundraisingAmt>
      </TravelGrp>
      <DepreciationDepletionGrp>
        <TotalAmt>404520</TotalAmt>
        <ProgramServicesAmt>323616</ProgramServicesAmt>
        <ManagementAndGeneralAmt>80904</ManagementAndGeneralAmt>
        <FundraisingAmt>0</FundraisingAmt>
      </DepreciationDepletionGrp>
      <OtherExpensesGrp>
        <Desc>Miscellaneous</Desc>
        <TotalAmt>259486</TotalAmt>
        <ProgramServicesAmt>43657</ProgramServicesAmt>
        <ManagementAndGeneralAmt>215829</ManagementAndGeneralAmt>
        <FundraisingAmt>0</FundraisingAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>Supplies</Desc>
        <TotalAmt>13517</TotalAmt>
        <ProgramServicesAmt>0</ProgramServicesAmt>
        <ManagementAndGeneralAmt>9974</ManagementAndGeneralAmt>
        <FundraisingAmt>3543</FundraisingAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>Fixed Asset Write Off</Desc>
        <TotalAmt>49369</TotalAmt>
        <ProgramServicesAmt>0</ProgramServicesAmt>
        <ManagementAndGeneralAmt>49369</ManagementAndGeneralAmt>
        <FundraisingAmt>0</FundraisingAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>Bank Fees</Desc>
        <TotalAmt>11211</TotalAmt>
        <ProgramServicesAmt>0</ProgramServicesAmt>
        <ManagementAndGeneralAmt>11211</ManagementAndGeneralAmt>
        <FundraisingAmt>0</FundraisingAmt>
      </OtherExpensesGrp>
      <AllOtherExpensesGrp>
        <TotalAmt>143027</TotalAmt>
        <ProgramServicesAmt>0</ProgramServicesAmt>
        <ManagementAndGeneralAmt>143027</ManagementAndGeneralAmt>
        <FundraisingAmt>0</FundraisingAmt>
      </AllOtherExpensesGrp>
      <TotalFunctionalExpensesGrp>
        <TotalAmt>4095848</TotalAmt>
        <ProgramServicesAmt>2648300</ProgramServicesAmt>
        <ManagementAndGeneralAmt>1080311</ManagementAndGeneralAmt>
        <FundraisingAmt>367237</FundraisingAmt>
      </TotalFunctionalExpensesGrp>
      <SavingsAndTempCashInvstGrp>
        <BOYAmt>239737</BOYAmt>
        <EOYAmt>309554</EOYAmt>
      </SavingsAndTempCashInvstGrp>
      <PledgesAndGrantsReceivableGrp>
        <BOYAmt>62452</BOYAmt>
      </PledgesAndGrantsReceivableGrp>
      <AccountsReceivableGrp>
        <BOYAmt>89672</BOYAmt>
        <EOYAmt>137120</EOYAmt>
      </AccountsReceivableGrp>
      <PrepaidExpensesDefrdChargesGrp>
        <BOYAmt>72972</BOYAmt>
        <EOYAmt>16485</EOYAmt>
      </PrepaidExpensesDefrdChargesGrp>
      <InvestmentsOtherSecuritiesGrp>
        <EOYAmt>519128</EOYAmt>
      </InvestmentsOtherSecuritiesGrp>
      <OtherAssetsTotalGrp>
        <EOYAmt>1976113</EOYAmt>
      </OtherAssetsTotalGrp>
      <TotalAssetsGrp>
        <BOYAmt>464833</BOYAmt>
        <EOYAmt>2958400</EOYAmt>
      </TotalAssetsGrp>
      <AccountsPayableAccrExpnssGrp>
        <BOYAmt>133417</BOYAmt>
        <EOYAmt>180775</EOYAmt>
      </AccountsPayableAccrExpnssGrp>
      <DeferredRevenueGrp>
        <BOYAmt>692621</BOYAmt>
        <EOYAmt>468587</EOYAmt>
      </DeferredRevenueGrp>
      <UnsecuredNotesLoansPayableGrp>
        <EOYAmt>172299</EOYAmt>
      </UnsecuredNotesLoansPayableGrp>
      <OtherLiabilitiesGrp>
        <EOYAmt>2129811</EOYAmt>
      </OtherLiabilitiesGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>826038</BOYAmt>
        <EOYAmt>2951472</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
      <NoDonorRestrictionNetAssetsGrp>
        <BOYAmt>-1035044</BOYAmt>
        <EOYAmt>-736285</EOYAmt>
      </NoDonorRestrictionNetAssetsGrp>
      <DonorRestrictionNetAssetsGrp>
        <BOYAmt>673839</BOYAmt>
        <EOYAmt>743213</EOYAmt>
      </DonorRestrictionNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>-361205</BOYAmt>
        <EOYAmt>6928</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>464833</BOYAmt>
        <EOYAmt>2958400</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <InfoInScheduleOPartXIInd>X</InfoInScheduleOPartXIInd>
      <ReconcilationRevenueExpnssAmt>411843</ReconcilationRevenueExpnssAmt>
      <OtherChangesInNetAssetsAmt>-43710</OtherChangesInNetAssetsAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
      <FSAuditedInd>true</FSAuditedInd>
      <FSAuditedBasisGrp>
        <ConsolidatedBasisFinclStmtInd>X</ConsolidatedBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>true</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>false</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleA documentId="IRS990ScheduleA-01" softwareId="21013422">
      <SchoolInd>X</SchoolInd>
      <OtherSupportSumAmt>0</OtherSupportSumAmt>
      <PublicSupportCY170Pct>0</PublicSupportCY170Pct>
      <PublicSupportTotal509Amt>0</PublicSupportTotal509Amt>
      <PublicSupportCY509Pct>0</PublicSupportCY509Pct>
      <InvestmentIncomeCYPct>0</InvestmentIncomeCYPct>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="IRS990ScheduleB-01">
      <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>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <IRS990ScheduleD documentId="IRS990ScheduleD-01" softwareId="21013422">
      <OtherSecuritiesGrp>
        <Desc>Mutual Funds</Desc>
        <BookValueAmt>519128</BookValueAmt>
        <MethodValuationCd>F</MethodValuationCd>
      </OtherSecuritiesGrp>
      <TotalBookValueSecuritiesAmt>519128</TotalBookValueSecuritiesAmt>
      <OtherAssetsOrgGrp>
        <Desc>Lease Asset</Desc>
        <BookValueAmt>1976113</BookValueAmt>
      </OtherAssetsOrgGrp>
      <TotalBookValueOtherAssetsAmt>1976113</TotalBookValueOtherAssetsAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>Lease Obligations</Desc>
        <Amt>2129811</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>2129811</TotalLiabilityAmt>
    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="IRS990ScheduleE-01" softwareId="21013422">
      <NondiscriminatoryPolicyStmtInd>true</NondiscriminatoryPolicyStmtInd>
      <PolicyStmtInBrochuresEtcInd>true</PolicyStmtInBrochuresEtcInd>
      <PlcyPblczdViaBroadcastMediaInd>true</PlcyPblczdViaBroadcastMediaInd>
      <MaintainRacialCompRecsInd>true</MaintainRacialCompRecsInd>
      <MaintainScholarshipsRecsInd>true</MaintainScholarshipsRecsInd>
      <MaintainCpyOfBrochuresEtcInd>true</MaintainCpyOfBrochuresEtcInd>
      <MaintainCpyOfAllSolInd>true</MaintainCpyOfAllSolInd>
      <DiscriminateRaceStdntsRghtsInd>false</DiscriminateRaceStdntsRghtsInd>
      <DiscriminateRaceAdmissPlcyInd>false</DiscriminateRaceAdmissPlcyInd>
      <DiscriminateRaceEmplmFcultyInd>false</DiscriminateRaceEmplmFcultyInd>
      <DiscriminateRaceSchsInd>false</DiscriminateRaceSchsInd>
      <DiscriminateRaceEducPlcyInd>false</DiscriminateRaceEducPlcyInd>
      <DiscriminateRaceUseOfFcltsInd>false</DiscriminateRaceUseOfFcltsInd>
      <DiscriminateRaceAthltProgInd>false</DiscriminateRaceAthltProgInd>
      <DiscriminateRaceOtherActyInd>false</DiscriminateRaceOtherActyInd>
      <GovernmentFinancialAidRcvdInd>false</GovernmentFinancialAidRcvdInd>
      <GovernmentFinancialAidRvkdInd>false</GovernmentFinancialAidRvkdInd>
      <ComplianceWithRevProc7550Ind>true</ComplianceWithRevProc7550Ind>
    </IRS990ScheduleE>
    <IRS990ScheduleF documentId="IRS990ScheduleF-01" softwareId="21013422">
      <GrantRecordsMaintainedInd>true</GrantRecordsMaintainedInd>
      <AccountActivitiesOutsideUSGrp>
        <RegionTxt>Europe</RegionTxt>
        <OfficesCnt>1</OfficesCnt>
        <EmployeeCnt>58</EmployeeCnt>
        <TypeOfActivitiesConductedTxt>Various Educational Programs</TypeOfActivitiesConductedTxt>
        <SpecificServicesProvidedTxt>GRADUATE PROGRAM</SpecificServicesProvidedTxt>
        <RegionTotalExpendituresAmt>4095848</RegionTotalExpendituresAmt>
      </AccountActivitiesOutsideUSGrp>
      <SubtotalOfficesCnt>1</SubtotalOfficesCnt>
      <SubtotalEmployeesCnt>58</SubtotalEmployeesCnt>
      <TotalOfficeCnt>1</TotalOfficeCnt>
      <TotalEmployeeCnt>58</TotalEmployeeCnt>
      <SubtotalSpentAmt>4095848</SubtotalSpentAmt>
      <TotalSpentAmt>4095848</TotalSpentAmt>
      <ForeignIndividualsGrantsGrp>
        <TypeOfAssistanceTxt>Student Financial Aid</TypeOfAssistanceTxt>
        <RegionTxt>Europe</RegionTxt>
        <RecipientCnt>50</RecipientCnt>
        <CashGrantAmt>170242</CashGrantAmt>
        <MannerOfCashDisbursementTxt>Wire Transfer</MannerOfCashDisbursementTxt>
      </ForeignIndividualsGrantsGrp>
      <TransferToForeignCorpInd>false</TransferToForeignCorpInd>
      <InterestInForeignTrustInd>false</InterestInForeignTrustInd>
      <ForeignCorpOwnershipInd>false</ForeignCorpOwnershipInd>
      <PassiveForeignInvestmestCoInd>false</PassiveForeignInvestmestCoInd>
      <ForeignPartnershipInd>false</ForeignPartnershipInd>
      <BoycottCountriesInd>false</BoycottCountriesInd>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Pt I Line 2</FormAndLineReferenceDesc>
        <ExplanationTxt>ALL GRANTS THAT ARE USED OUTSIDE OF THE UNITED STATES ARE GRANTED TO KSE GROUP ENTITIES WHICH ARE CONTROLLED AND MONITORED BY KSE.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleF>
    <IRS990ScheduleO documentId="IRS990ScheduleO-01" softwareId="21013422">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Pt VI, Line 11b</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION PROVIDES A COMPLETE COPY OF THE FORM 990 TO THE MEMBERS OF ITS GOVERNING BOARD FOR THEIR REVIEW PRIOR TO FILLING THE RETURN.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Pt VI, Line 12c</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION REGULARLY REVIEWS AND MAKES CHANGES TO THE CONFLICT OF INTERST POLICY AS NEEDED. THE BOARD ALSO CLOSELY MONITORS TRANSACTIONS FOR CONFLICTS OF INTEREST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Pt VI, Line 15b</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION DETERMINES COMPENSATION BY REVIEW AND APPROVAL BY INDEPENDENT PERSONS USING COMPARABLE DATA.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Pt VI, Line 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FORM 990 AVAILABLE UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Pt VI, Line 15a</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION DETERMINES COMPENSATION BY REVIEW AND APPROVAL BY INDEPENDENT PERSONS USING COMPARABLE DATA.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Pt XI</FormAndLineReferenceDesc>
        <ExplanationTxt>Foreign Exchange Adjustment</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="IRS990ScheduleR-01" softwareId="21013422">
      <IdDisregardedEntitiesGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>KSE CHARITABLE FOUNDATION</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <ForeignAddress>
          <AddressLine1Txt>3 M Shpaka St</AddressLine1Txt>
          <CityNm>KYIV</CityNm>
          <CountryCd>UP</CountryCd>
        </ForeignAddress>
        <PrimaryActivitiesTxt>Support and development of KSE Unversity</PrimaryActivitiesTxt>
        <LegalDomicileForeignCountryCd>UP</LegalDomicileForeignCountryCd>
        <DirectControllingEntityName>
          <BusinessNameLine1Txt>ECONOMICS EDUCATION AND RESERACH CONSORTIUM</BusinessNameLine1Txt>
        </DirectControllingEntityName>
      </IdDisregardedEntitiesGrp>
      <IdDisregardedEntitiesGrp>
        <DisregardedEntityName>
          <BusinessNameLine1Txt>KYIV SCHOOOL OF ECONOMICS UNIVERSITY</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <ForeignAddress>
          <AddressLine1Txt>3 M Shpaka St</AddressLine1Txt>
          <CityNm>KYIV</CityNm>
          <CountryCd>UP</CountryCd>
        </ForeignAddress>
        <PrimaryActivitiesTxt>EDUCATION</PrimaryActivitiesTxt>
        <LegalDomicileForeignCountryCd>UP</LegalDomicileForeignCountryCd>
        <DirectControllingEntityName>
          <BusinessNameLine1Txt>KSE CHARITABLE FOUNDATION</BusinessNameLine1Txt>
        </DirectControllingEntityName>
      </IdDisregardedEntitiesGrp>
    </IRS990ScheduleR>
  </ReturnData>
</Return>
