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      <Form990PartVIISectionAGrp>
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            <AddressLine1Txt>OCEAN VIEW CALLE 2 C-43</AddressLine1Txt>
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      <ContractorCompensationGrp>
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        <ContractorName>
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          <USAddress>
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          <BusinessName>
            <BusinessNameLine1Txt>BFWD</BusinessNameLine1Txt>
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        <ManagementAndGeneralAmt>609335</ManagementAndGeneralAmt>
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        <Desc>OTHER EXPENSE</Desc>
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      <OtherExpensesGrp>
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      <OtherExpensesGrp>
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      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
      <FSAuditedInd>true</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>true</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>true</FederalGrantAuditRequiredInd>
      <FederalGrantAuditPerformedInd>true</FederalGrantAuditPerformedInd>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc6">
      <SchoolInd>X</SchoolInd>
    </IRS990ScheduleA>
    <IRS990ScheduleD documentId="RetDoc2">
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        <ContributionsAmt>23103</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>15325</InvestmentEarningsOrLossesAmt>
        <EndYearBalanceAmt>1251163</EndYearBalanceAmt>
      </CYEndwmtFundGrp>
      <CYMinus1YrEndwmtFundGrp>
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        <ContributionsAmt>191632</ContributionsAmt>
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        <EndYearBalanceAmt>982150</EndYearBalanceAmt>
      </CYMinus2YrEndwmtFundGrp>
      <CYMinus3YrEndwmtFundGrp>
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        <EndYearBalanceAmt>943505</EndYearBalanceAmt>
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      <CYMinus4YrEndwmtFundGrp>
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        <OtherExpendituresAmt>73354</OtherExpendituresAmt>
        <EndYearBalanceAmt>643894</EndYearBalanceAmt>
      </CYMinus4YrEndwmtFundGrp>
      <EndowmentsHeldUnrelatedOrgInd>false</EndowmentsHeldUnrelatedOrgInd>
      <EndowmentsHeldRelatedOrgInd>false</EndowmentsHeldRelatedOrgInd>
      <LandGrp>
        <InvestmentCostOrOtherBasisAmt>7200000</InvestmentCostOrOtherBasisAmt>
        <BookValueAmt>7200000</BookValueAmt>
      </LandGrp>
      <BuildingsGrp>
        <InvestmentCostOrOtherBasisAmt>17521561</InvestmentCostOrOtherBasisAmt>
        <DepreciationAmt>5556135</DepreciationAmt>
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      </BuildingsGrp>
      <LeaseholdImprovementsGrp>
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        <BookValueAmt>3606384</BookValueAmt>
      </LeaseholdImprovementsGrp>
      <EquipmentGrp>
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        <DepreciationAmt>2912090</DepreciationAmt>
        <BookValueAmt>-11021</BookValueAmt>
      </EquipmentGrp>
      <OtherLandBuildingsGrp>
        <InvestmentCostOrOtherBasisAmt>3319435</InvestmentCostOrOtherBasisAmt>
        <DepreciationAmt>2610055</DepreciationAmt>
        <BookValueAmt>709380</BookValueAmt>
      </OtherLandBuildingsGrp>
      <TotalBookValueLandBuildingsAmt>23470169</TotalBookValueLandBuildingsAmt>
      <TotalRevEtcAuditedFinclStmtAmt>37154830</TotalRevEtcAuditedFinclStmtAmt>
      <NetUnrealizedGainsInvstAmt>128752</NetUnrealizedGainsInvstAmt>
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      <RevenueSubtotalAmt>37026078</RevenueSubtotalAmt>
      <TotalRevenuePerForm990Amt>37026078</TotalRevenuePerForm990Amt>
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      <ExpensesSubtotalAmt>35527656</ExpensesSubtotalAmt>
      <TotalExpensesPerForm990Amt>35527656</TotalExpensesPerForm990Amt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE D, PAGE 4, PART XIII</FormAndLineReferenceDesc>
        <ExplanationTxt>SCHEDULE D, PART V, LINE 4 - THE INTENDED USES OF THE ORGANIZATION'S ENDOWMENT FUNDS IS TO OFFER SCHOLARSHIPS FOR STUDENTS.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="RetDoc3">
      <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>true</GovernmentFinancialAidRcvdInd>
      <GovernmentFinancialAidRvkdInd>false</GovernmentFinancialAidRvkdInd>
      <ComplianceWithRevProc7550Ind>true</ComplianceWithRevProc7550Ind>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE E, LINE 3</FormAndLineReferenceDesc>
        <ExplanationTxt>THE INSTITUTIONAL CATALOGUE AND OFFICIAL DOCUMENTS DISCLOSE THIS POLICY.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE E, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>THE INSTITUTION RECEIVES FINANCIAL AID FROM THE DEPARTMENT OF EDUCATION.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleE>
    <IRS990ScheduleJ documentId="RetDoc4">
      <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>JOSE I PONS MADERA</PersonNm>
        <TitleTxt>PRESIDENT</TitleTxt>
        <BaseCompensationFilingOrgAmt>280822</BaseCompensationFilingOrgAmt>
        <TotalCompensationFilingOrgAmt>280822</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
    </IRS990ScheduleJ>
    <IRS990ScheduleO documentId="RetDoc5">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>TO COMPLETE THE 990 WE USE SEVERAL METHODS TO REVIEW THE INFORMATION; SUCH AS AUDITED FINANCIAL STATEMENTS, WORKSHEETS AS BACKUP FOR SEVERAL SCHEDULES, REVIEW WITH OTHER INSTITUTIONAL PERSONNEL QUESTIONS CONCERNING SPECIFIC POLICIES AND PRACTICES, AND CERTAIN BOARD COMMITTES FOR QUESTIONS REGARDING GOVERNANCE AND POLICIES.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>A DOCUMENT "FORMULARIO DE CERTIFICACIN Y DIVULGACIN ANUAL SOBRE CONFLICTO DE INTERESES" IS DISTRIBUTED TO MEMBERS OF THE BOARD ANNUALLY, AND WILL ALSO BE DISTRIBUTED TO UNIVERSITY CONSTITUENTS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 15A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD OF TRUSTEES HAS CONSTITUTED A COMPENSATION, FINANCE AND PLANNING COMMITTEE THAT IS ON CHARGE OF OVERSEEING COMPENSATION FOR KEY PERSONNEL OF THE INSTITUTION. A WRITTEN EMPLOYMENT CONTRACT IS ALSO IN PLACE FOR THE PRESIDENT OF THE INSTITUTION SIGNED BY THE PRESIDENT OF THE BOARD.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THESE DOCUMENTS ARE AVAILABLE UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART IX, LINE 11G</FormAndLineReferenceDesc>
        <ExplanationTxt>OTHER PROFESSIONAL FEES 315,376 3,810,933 0</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>