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        <BOYAmt>21365299</BOYAmt>
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      <TaxExemptBondLiabilitiesGrp>
        <BOYAmt>15295068</BOYAmt>
        <EOYAmt>14937931</EOYAmt>
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      <MortgNotesPyblScrdInvstPropGrp>
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        <BOYAmt>16850139</BOYAmt>
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      <OrganizationFollowsSFAS117Ind>X</OrganizationFollowsSFAS117Ind>
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        <BOYAmt>4515160</BOYAmt>
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      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>21365299</BOYAmt>
        <EOYAmt>22530027</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <ReconcilationRevenueExpnssAmt>1330955</ReconcilationRevenueExpnssAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
      <FSAuditedInd>true</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>true</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>false</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc11">
      <SchoolInd>X</SchoolInd>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1" />
    <IRS990ScheduleD documentId="RetDoc4">
      <LandGrp>
        <OtherCostOrOtherBasisAmt>4071579</OtherCostOrOtherBasisAmt>
        <BookValueAmt>4071579</BookValueAmt>
      </LandGrp>
      <BuildingsGrp>
        <OtherCostOrOtherBasisAmt>13147095</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>3290566</DepreciationAmt>
        <BookValueAmt>9856529</BookValueAmt>
      </BuildingsGrp>
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>839064</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>690864</DepreciationAmt>
        <BookValueAmt>148200</BookValueAmt>
      </EquipmentGrp>
      <TotalBookValueLandBuildingsAmt>14076308</TotalBookValueLandBuildingsAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>ACCRUED INTEREST</Desc>
        <Amt>78164</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>78164</TotalLiabilityAmt>
      <TotalRevEtcAuditedFinclStmtAmt>19068462</TotalRevEtcAuditedFinclStmtAmt>
      <RevenueSubtotalAmt>19068462</RevenueSubtotalAmt>
      <TotalRevenuePerForm990Amt>19068462</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>17737507</TotExpnsEtcAuditedFinclStmtAmt>
      <ExpensesSubtotalAmt>17737507</ExpensesSubtotalAmt>
      <TotalExpensesPerForm990Amt>17737507</TotalExpensesPerForm990Amt>
    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="RetDoc5">
      <NondiscriminatoryPolicyStmtInd>true</NondiscriminatoryPolicyStmtInd>
      <PolicyStmtInBrochuresEtcInd>true</PolicyStmtInBrochuresEtcInd>
      <PlcyPblczdViaBroadcastMediaInd>false</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 ORGANIZATION IS EXCUSED FROM FORMAL COMPLIANCE WITH REV PROC 75-50 AS LONG AS THE SCHOOL'S CHARTER AGREEMENT WITH THE STATE OF UTAH REMAINS IN EFFECT.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE E, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION RECEIVES STATE AND FEDERAL GRANTS TO OPERATE SCHOOL.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleE>
    <IRS990ScheduleJ documentId="RetDoc6">
      <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>STEVE CRANDALL</PersonNm>
        <TitleTxt>DIRECTOR</TitleTxt>
        <BaseCompensationFilingOrgAmt>58398</BaseCompensationFilingOrgAmt>
        <NontaxableBenefitsFilingOrgAmt>5062</NontaxableBenefitsFilingOrgAmt>
        <TotalCompensationFilingOrgAmt>63460</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="RetDoc7">
      <TaxExemptBondsIssuesGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1Txt>STATE CHARTER SCHOOL FINANCE AUTHOR</BusinessNameLine1Txt>
          <BusinessNameLine2Txt>STATE CHARTER SCHOOL FINANCE AUTHOR</BusinessNameLine2Txt>
        </IssuerName>
        <BondIssuerEIN>261275269</BondIssuerEIN>
        <CUSIPNum>91754TAF0</CUSIPNum>
        <BondIssuedDt>2007-12-13</BondIssuedDt>
        <IssuePriceAmt>17900000</IssuePriceAmt>
        <PurposeDesc>PURCHASE FACILITIES</PurposeDesc>
        <DefeasedInd>false</DefeasedInd>
        <OnBehalfOfIssuerInd>false</OnBehalfOfIssuerInd>
        <PoolFinancingInd>false</PoolFinancingInd>
      </TaxExemptBondsIssuesGrp>
      <TaxExemptBondsProceedsGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <SubstantialCompletionYr>2008</SubstantialCompletionYr>
        <CurrentRefundingInd>false</CurrentRefundingInd>
        <AdvanceRefundingInd>false</AdvanceRefundingInd>
        <FinalAllocationMadeInd>true</FinalAllocationMadeInd>
        <AdequateBooksAndRecMaintInd>true</AdequateBooksAndRecMaintInd>
      </TaxExemptBondsProceedsGrp>
      <TaxExemptBondsPrivateBusUseGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <OwningBondFinancedPropertyInd>false</OwningBondFinancedPropertyInd>
        <AnyLeaseArrangementsInd>false</AnyLeaseArrangementsInd>
        <MgmtContractBondFincdPropInd>false</MgmtContractBondFincdPropInd>
        <AnyResearchAgreementsInd>false</AnyResearchAgreementsInd>
        <BondIssMeetPrvtSecPymtTestInd>false</BondIssMeetPrvtSecPymtTestInd>
        <ChangeInUseBondFinancedPropInd>false</ChangeInUseBondFinancedPropInd>
        <ProcsNonqualifiedBondRemdtdInd>false</ProcsNonqualifiedBondRemdtdInd>
      </TaxExemptBondsPrivateBusUseGrp>
      <TaxExemptBondsArbitrageGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <Form8038TFiledInd>false</Form8038TFiledInd>
        <RebateNotDueYetInd>false</RebateNotDueYetInd>
        <ExceptionToRebateInd>false</ExceptionToRebateInd>
        <NoRebateDueInd>false</NoRebateDueInd>
        <VariableRateIssueInd>false</VariableRateIssueInd>
        <HedgeIdentifiedInBksAndRecInd>false</HedgeIdentifiedInBksAndRecInd>
        <GrossProceedsInvestedInGICInd>false</GrossProceedsInvestedInGICInd>
        <GrossProceedsInvestedInd>false</GrossProceedsInvestedInd>
        <WrittenProcToMonitorReqsInd>false</WrittenProcToMonitorReqsInd>
      </TaxExemptBondsArbitrageGrp>
      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <ProceduresCorrectiveActionInd>false</ProceduresCorrectiveActionInd>
      </ProceduresCorrectiveActionGrp>
    </IRS990ScheduleK>
    <IRS990ScheduleL documentId="RetDoc8">
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <PersonNm>STEVE CRANDALL</PersonNm>
        </NameOfInterested>
        <RelationshipDescriptionTxt>RELATIVE-OFFICR</RelationshipDescriptionTxt>
        <TransactionAmt>63460</TransactionAmt>
        <TransactionDesc>EMPLOYEE</TransactionDesc>
        <SharingOfRevenuesInd>false</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <BusinessName>
            <BusinessNameLine1Txt>PROSECUTIVE LANDSCAPING</BusinessNameLine1Txt>
          </BusinessName>
        </NameOfInterested>
        <RelationshipDescriptionTxt>RELATIVE-OFFICR</RelationshipDescriptionTxt>
        <TransactionAmt>83304</TransactionAmt>
        <TransactionDesc>LANDSCAPING SERVICES</TransactionDesc>
        <SharingOfRevenuesInd>false</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <PersonNm>MARTY ALLEN</PersonNm>
        </NameOfInterested>
        <RelationshipDescriptionTxt>RELATIVE-OFFICR</RelationshipDescriptionTxt>
        <TransactionAmt>53792</TransactionAmt>
        <TransactionDesc>EMPLOYEE</TransactionDesc>
        <SharingOfRevenuesInd>false</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
      <BusTrInvolveInterestedPrsnGrp>
        <NameOfInterested>
          <PersonNm>STEVE ALLEN</PersonNm>
        </NameOfInterested>
        <RelationshipDescriptionTxt>RELATIVE-OFFICR</RelationshipDescriptionTxt>
        <TransactionAmt>30068</TransactionAmt>
        <TransactionDesc>EMPLOYEE</TransactionDesc>
        <SharingOfRevenuesInd>false</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE L, PART V</FormAndLineReferenceDesc>
        <ExplanationTxt>AS IDENTIFIED IN PART VI SECTION A LINE 2 AND DETAILED IN SCHEDULE O, STEVE CRANDALL (FORMER EXECUTIVE DIRECTOR) IS THE BROTHER OF DAVE CRANDALL (BOARD CHAIRMAN). STEVE'S COMPENSATION AS AN EMPLOYEE OF THE SCHOOL IS LISTED ABOVE IN PART IV.</ExplanationTxt>
      </SupplementalInformationDetail>
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    <IRS990ScheduleO documentId="RetDoc9">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 2</FormAndLineReferenceDesc>
        <ExplanationTxt>DAVID CRANDALL STEVE CRANDALL BOARD PRES DIRECTOR BROTHER SUMMIT ACADEMY HIGH SCHOOL SUMMIT ACADEMY INCORPORATED SCHOOL SCHOOL SISTER SCHOOLS</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 8B</FormAndLineReferenceDesc>
        <ExplanationTxt>ORGANIZATION DOES NOT CURRENTLY HAVE ANY COMMITTEES; ALL COMMITTEE FUNCTIONS ARE PERFORMED BY GOVERNING BOARD.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>A COPY OF THE FORM 990 IS REVIEWED BY MEMBERS OF THE BOARD AND APPROVED PRIOR TO FILING.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>BOARD MEMBERS SUBMIT FORMS WHICH ARE REVIEWED ANNUALLY.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 15A</FormAndLineReferenceDesc>
        <ExplanationTxt>COMPENSATION PROCESS FOR TOP OFFICIAL INCLUDES GATHERING COMPARABILITY DATA AND IS SUBJECT TO REVIEW AND APPROVAL OF THE BOARD.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 15B</FormAndLineReferenceDesc>
        <ExplanationTxt>COMPENSATION PROCESS OF OTHER OFFICERS OR KEY EMPLOYEES INCLUDES GATHERING COMPARABILITY DATA AND IS SUBJECT TO REVIEW AND APPROVAL OF THE BOARD.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>DOCUMENTS ARE AVAILABLE UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART IX, LINE 11G</FormAndLineReferenceDesc>
        <ExplanationTxt>PROPERTY SERVICES SCHOOL 65,953 0 0 PROPERTY SERVICES NON SCHOOL 2,214,305 0 0 OTHER SERVICES SCHOOL 40,831 6,090 0 OTHER SERVICES NON SCHOOL PRO 7,350 0 0 OTHER SERVICES FOOD SERVICES 2,072 0 0 TOTAL 2,330,511 6,090 0</ExplanationTxt>
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        <DisregardedEntityName>
          <BusinessNameLine1Txt>SUMMIT ACADEMY HIGH SCHOOL</BusinessNameLine1Txt>
        </DisregardedEntityName>
        <USAddress>
          <AddressLine1Txt>1225 EAST 13200 SOUTH</AddressLine1Txt>
          <CityNm>DRAPER</CityNm>
          <StateAbbreviationCd>UT</StateAbbreviationCd>
          <ZIPCd>84020</ZIPCd>
        </USAddress>
        <EIN>271884849</EIN>
        <PrimaryActivitiesTxt>EDUCATION</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>UT</LegalDomicileStateCd>
        <ExemptCodeSectionTxt>501C3</ExemptCodeSectionTxt>
        <PublicCharityStatusTxt>2</PublicCharityStatusTxt>
        <DirectControllingEntityName>
          <BusinessNameLine1Txt>NA</BusinessNameLine1Txt>
        </DirectControllingEntityName>
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      <GiftGrntCapContriFromOthOrgInd>false</GiftGrntCapContriFromOthOrgInd>
      <LoansOrGuaranteesToOtherOrgInd>true</LoansOrGuaranteesToOtherOrgInd>
      <LoansOrGuaranteesFromOthOrgInd>false</LoansOrGuaranteesFromOthOrgInd>
      <DivRelatedOrganizationInd>false</DivRelatedOrganizationInd>
      <AssetSaleToOtherOrgInd>false</AssetSaleToOtherOrgInd>
      <AssetPurchaseFromOtherOrgInd>false</AssetPurchaseFromOtherOrgInd>
      <AssetExchangeInd>false</AssetExchangeInd>
      <RentalOfFacilitiesToOthOrgInd>false</RentalOfFacilitiesToOthOrgInd>
      <RentalOfFcltsFromOthOrgInd>true</RentalOfFcltsFromOthOrgInd>
      <PerformOfServicesForOthOrgInd>false</PerformOfServicesForOthOrgInd>
      <PerformOfServicesByOtherOrgInd>false</PerformOfServicesByOtherOrgInd>
      <SharingOfFacilitiesInd>false</SharingOfFacilitiesInd>
      <PaidEmployeesSharingInd>false</PaidEmployeesSharingInd>
      <ReimbursementPaidToOtherOrgInd>false</ReimbursementPaidToOtherOrgInd>
      <ReimbursementPaidByOtherOrgInd>true</ReimbursementPaidByOtherOrgInd>
      <TransferToOtherOrgInd>false</TransferToOtherOrgInd>
      <TransferFromOtherOrgInd>false</TransferFromOtherOrgInd>
      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>SUMMIT ACADEMY HIGH SCHOOL</BusinessNameLine1Txt>
        </OtherOrganizationName>
        <TransactionTypeTxt>K</TransactionTypeTxt>
        <InvolvedAmt>159474</InvolvedAmt>
        <MethodOfAmountDeterminationTxt>RECEIVED FOR FOOD SERVICE</MethodOfAmountDeterminationTxt>
      </TransactionsRelatedOrgGrp>
      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>SUMMIT ACADEMY HIGH SCHOOL</BusinessNameLine1Txt>
        </OtherOrganizationName>
        <TransactionTypeTxt>K</TransactionTypeTxt>
        <InvolvedAmt>243592</InvolvedAmt>
        <MethodOfAmountDeterminationTxt>RECEIVED FOR MGMT SERVICE</MethodOfAmountDeterminationTxt>
      </TransactionsRelatedOrgGrp>
      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>SUMMIT ACADEMY HIGH SCHOOL</BusinessNameLine1Txt>
        </OtherOrganizationName>
        <TransactionTypeTxt>D</TransactionTypeTxt>
        <InvolvedAmt>200000</InvolvedAmt>
        <MethodOfAmountDeterminationTxt>LOAN TO HIGH SCHOOL</MethodOfAmountDeterminationTxt>
      </TransactionsRelatedOrgGrp>
      <TransactionsRelatedOrgGrp>
        <OtherOrganizationName>
          <BusinessNameLine1Txt>SUMMIT ACADEMY HICH SCHOOL</BusinessNameLine1Txt>
        </OtherOrganizationName>
        <TransactionTypeTxt>Q</TransactionTypeTxt>
        <InvolvedAmt>1053046</InvolvedAmt>
        <MethodOfAmountDeterminationTxt>ADVANCE TO HIGH SCHOOL</MethodOfAmountDeterminationTxt>
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</Return>