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        <EOY>9354861</EOY>
      </TotalLiabNetAssetsFundBalances>
      <ReconcilationRevenueExpenses>201036</ReconcilationRevenueExpenses>
      <ReconcilationOtherChanges>173717</ReconcilationOtherChanges>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>true</FSAudited>
      <FSAuditedBasis>
        <FinancialStatementConsolidated>X</FinancialStatementConsolidated>
      </FSAuditedBasis>
      <AuditCommittee>true</AuditCommittee>
      <FederalGrantAuditRequired>false</FederalGrantAuditRequired>
    </IRS990>
    <IRS990ScheduleA documentId="00000002" softwareId="12000225">
      <School170b1Aii>X</School170b1Aii>
      <PublicSupportTotal170>0</PublicSupportTotal170>
      <GrossInvestmentIncome170>
        <Total>0</Total>
      </GrossInvestmentIncome170>
      <PublicSupportPertcentage170>0</PublicSupportPertcentage170>
      <PublicSupportTotal509>0</PublicSupportTotal509>
      <PublicSupportPercentage509>0</PublicSupportPercentage509>
      <InvestmentIncomePercentage>0</InvestmentIncomePercentage>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="00000003">
      <ContributorInfo>
        <ContributorNumber>RESTRICTED</ContributorNumber>
        <ContributorNameBusiness>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorNameBusiness>
        <ContributorAddressUS>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorAddressUS>
        <AggregateContributions>RESTRICTED</AggregateContributions>
      </ContributorInfo>
    </IRS990ScheduleB>
    <IRS990ScheduleD documentId="00000004" softwareId="12000225">
      <Land>
        <OtherCostOrOtherBasis>2450000</OtherCostOrOtherBasis>
        <BookValue>2450000</BookValue>
      </Land>
      <Buildings>
        <OtherCostOrOtherBasis>5413175</OtherCostOrOtherBasis>
        <Depreciation>489430</Depreciation>
        <BookValue>4923745</BookValue>
      </Buildings>
      <LeaseholdImprovements>
        <OtherCostOrOtherBasis>122410</OtherCostOrOtherBasis>
        <Depreciation>11195</Depreciation>
        <BookValue>111215</BookValue>
      </LeaseholdImprovements>
      <Equipment>
        <OtherCostOrOtherBasis>415110</OtherCostOrOtherBasis>
        <Depreciation>297043</Depreciation>
        <BookValue>118067</BookValue>
      </Equipment>
      <OtherLandBuildings>
        <OtherCostOrOtherBasis>17333</OtherCostOrOtherBasis>
        <BookValue>17333</BookValue>
      </OtherLandBuildings>
      <TotalOfBookValueLandBuildings>7620360</TotalOfBookValueLandBuildings>
      <TotRevenueEtcAuditedFinclStmt>2900508</TotRevenueEtcAuditedFinclStmt>
      <DonatedSrvcAndUseOfFacilities>11520</DonatedSrvcAndUseOfFacilities>
      <RevenueNotRptdF990>11520</RevenueNotRptdF990>
      <RevenueSubtotal>2888988</RevenueSubtotal>
      <TotalRevenuePerForm990>2888988</TotalRevenuePerForm990>
      <Form990ScheduleDPartXIII>
        <Identifier>Pt XI Line 2d</Identifier>
        <Explanation>Revenue of affiliated foundation and direct expenses</Explanation>
      </Form990ScheduleDPartXIII>
      <Form990ScheduleDPartXIII>
        <Explanation>OF FUNDRAISING ACTIVITIES</Explanation>
      </Form990ScheduleDPartXIII>
    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="00000005" softwareId="12000225">
      <NondiscriminatoryPolicyStmt>true</NondiscriminatoryPolicyStmt>
      <PolicyStatementInBrochuresEtc>true</PolicyStatementInBrochuresEtc>
      <PolicyPublViaBroadcastMedia>false</PolicyPublViaBroadcastMedia>
      <MaintRacialCompositionRecords>true</MaintRacialCompositionRecords>
      <MaintScholarshipsRecords>false</MaintScholarshipsRecords>
      <MaintCopiesOfBrochuresEtc>true</MaintCopiesOfBrochuresEtc>
      <MaintCopiesOfAllSolicitations>true</MaintCopiesOfAllSolicitations>
      <DiscriminateRaceStudentsRights>false</DiscriminateRaceStudentsRights>
      <DiscriminateRaceAdmissPolicies>false</DiscriminateRaceAdmissPolicies>
      <DiscriminateRaceEmplmnFaculty>false</DiscriminateRaceEmplmnFaculty>
      <DiscriminateRaceScholarships>false</DiscriminateRaceScholarships>
      <DiscriminateRaceEducPolicies>false</DiscriminateRaceEducPolicies>
      <DiscriminateRaceUseOfFclts>false</DiscriminateRaceUseOfFclts>
      <DiscriminateRaceAthleticProg>false</DiscriminateRaceAthleticProg>
      <DiscriminateRaceOtherActy>false</DiscriminateRaceOtherActy>
      <GovernmentFinancialAidReceived>false</GovernmentFinancialAidReceived>
      <GovernmentFinancialAidRevoked>false</GovernmentFinancialAidRevoked>
      <ComplianceWithRevProc7550>true</ComplianceWithRevProc7550>
      <Form990ScheduleEPartII>
        <Identifier>Line 3</Identifier>
        <Explanation>ALL SCHOOL APPLICATION FORMS FOR STUDENT ENROLLMENT OR EMPLOYMENT CONTAIN THIS INFORMATION.</Explanation>
      </Form990ScheduleEPartII>
      <Form990ScheduleEPartII>
        <Identifier>Line 4d</Identifier>
        <Explanation>SCHOLARSHIPS ARE AWARDED SOLELY ON A FINANCIAL NEED BASIS.</Explanation>
      </Form990ScheduleEPartII>
    </IRS990ScheduleE>
    <IRS990ScheduleG documentId="00000006">
      <EventsInformation>
        <NameOfEvent1>Auction</NameOfEvent1>
        <GrossReceiptsEvent1>125327</GrossReceiptsEvent1>
        <CharitableContributionsEvent1>112809</CharitableContributionsEvent1>
        <GrossRevenueEvent1>12518</GrossRevenueEvent1>
        <RentFacilityCostsEvent1>2349</RentFacilityCostsEvent1>
        <FoodAndBeverageEvent1>9081</FoodAndBeverageEvent1>
        <OtherDirectExpensesEvent1>18011</OtherDirectExpensesEvent1>
        <NameOfEvent2>Fall Festival</NameOfEvent2>
        <GrossReceiptsEvent2>32557</GrossReceiptsEvent2>
        <CharitableContributionsEvent2>32557</CharitableContributionsEvent2>
        <RentFacilityCostsEvent2>8081</RentFacilityCostsEvent2>
        <FoodAndBeverageEvent2>795</FoodAndBeverageEvent2>
        <OtherDirectExpensesEvent2>2014</OtherDirectExpensesEvent2>
        <GrossReceiptsTotal>157884</GrossReceiptsTotal>
        <CharitableContributionsTotal>145366</CharitableContributionsTotal>
        <GrossRevenueTotalEvents>12518</GrossRevenueTotalEvents>
        <RentFacilityCostsTotalEvents>10430</RentFacilityCostsTotalEvents>
        <FoodAndBeverageTotalEvents>9876</FoodAndBeverageTotalEvents>
        <OtherDirectExpensesTotalEvents>20025</OtherDirectExpensesTotalEvents>
        <DirectExpenseSummaryEvents>40331</DirectExpenseSummaryEvents>
        <NetIncomeSummary>-27813</NetIncomeSummary>
      </EventsInformation>
    </IRS990ScheduleG>
    <IRS990ScheduleI documentId="00000007" softwareId="12000225">
      <RecordsMaintained>true</RecordsMaintained>
      <Form990ScheduleIPartIII>
        <TypeOfGrant>Scholarships</TypeOfGrant>
        <NumberOfRecipients>4</NumberOfRecipients>
        <AmountOfCashGrant>26445</AmountOfCashGrant>
      </Form990ScheduleIPartIII>
      <Form990ScheduleIPartIV>
        <Identifier>Pt I Line 2</Identifier>
        <Explanation>The school grants scholarships and short-term financial aid for tuition.</Explanation>
      </Form990ScheduleIPartIV>
      <Form990ScheduleIPartIV>
        <Explanation>Tuition is invoiced for each scholarship recipient and scholarships</Explanation>
      </Form990ScheduleIPartIV>
      <Form990ScheduleIPartIV>
        <Explanation>granted and used for tuition are tracked in the school's financial records.</Explanation>
      </Form990ScheduleIPartIV>
    </IRS990ScheduleI>
    <IRS990ScheduleJ documentId="00000008">
      <BoardOrCommitteeApproval>X</BoardOrCommitteeApproval>
      <SeverancePayment>false</SeverancePayment>
      <SupplementalNonqualRetirePlan>false</SupplementalNonqualRetirePlan>
      <EquityBasedCompArrangement>false</EquityBasedCompArrangement>
      <CompBasedOnRevenueOfFilingOrg>false</CompBasedOnRevenueOfFilingOrg>
      <CompBasedOnRevenueRelatedOrgs>false</CompBasedOnRevenueRelatedOrgs>
      <CompBasedNetEarningsFilingOrg>false</CompBasedNetEarningsFilingOrg>
      <CompBasedNetEarningsRelateOrgs>false</CompBasedNetEarningsRelateOrgs>
      <AnyNonFixedPayments>false</AnyNonFixedPayments>
      <InitialContractException>false</InitialContractException>
      <Form990ScheduleJPartII>
        <NamePerson>DAVID GOODWIN</NamePerson>
        <BaseCompensationFilingOrg>69148</BaseCompensationFilingOrg>
        <TotalCompensationFilingOrg>69148</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="00000009" softwareId="12000225">
      <Form990ScheduleKPartI>
        <BondReferenceCd>A</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1>COLORADO EDUCATIONAL AND CULTURAL FA</BusinessNameLine1>
        </IssuerName>
        <CUSIPNumber>19645RHG9</CUSIPNumber>
        <DateIssued>2008-11-01</DateIssued>
        <IssuePrice>4655000</IssuePrice>
        <DescriptionOfPurpose>SCHOOL CONSTRUCTION</DescriptionOfPurpose>
        <Defeased>false</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
        <PoolFinancing>false</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartII>
        <BondReferenceCd>A</BondReferenceCd>
        <TotalProceeds>4655000</TotalProceeds>
        <CapitalExpenditures>4655000</CapitalExpenditures>
        <YearOfSubstCompletion>2009</YearOfSubstCompletion>
        <CurrentRefunding>false</CurrentRefunding>
        <AdvanceRefunding>false</AdvanceRefunding>
        <FinalAllocationMade>true</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>true</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartIII>
        <BondReferenceCd>A</BondReferenceCd>
        <OwningBondFinancedProperty>false</OwningBondFinancedProperty>
        <AnyLeaseArrangements>false</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>false</MngmentCntrctBondFinancdPrprty>
        <AnyResearchAgreements>false</AnyResearchAgreements>
        <PrcntgePrvtBusinessUseByOthers>0.00000</PrcntgePrvtBusinessUseByOthers>
        <PercentageOfPrvtBusinessReUBI>0.00000</PercentageOfPrvtBusinessReUBI>
        <TotalPrivateBusinessUse>0.00000</TotalPrivateBusinessUse>
        <NonQualifiedBondRemedProcdrs>true</NonQualifiedBondRemedProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIV>
        <BondReferenceCd>A</BondReferenceCd>
        <Form8038TFiled>false</Form8038TFiled>
        <VariableRateIssue>true</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>true</HedgeIdentifiedInBooksAndRecds>
        <GrossProceedsInvestedInGIC>false</GrossProceedsInvestedInGIC>
      </Form990ScheduleKPartIV>
      <Form990ScheduleKPartV>
        <BondReferenceCd>A</BondReferenceCd>
        <ProcToUndertkCorrectiveAction>false</ProcToUndertkCorrectiveAction>
      </Form990ScheduleKPartV>
      <Form990ScheduleKPartV>
        <BondReferenceCd>B</BondReferenceCd>
        <ProcToUndertkCorrectiveAction>false</ProcToUndertkCorrectiveAction>
      </Form990ScheduleKPartV>
      <Form990ScheduleKPartV>
        <BondReferenceCd>C</BondReferenceCd>
        <ProcToUndertkCorrectiveAction>false</ProcToUndertkCorrectiveAction>
      </Form990ScheduleKPartV>
      <Form990ScheduleKPartV>
        <BondReferenceCd>D</BondReferenceCd>
        <ProcToUndertkCorrectiveAction>false</ProcToUndertkCorrectiveAction>
      </Form990ScheduleKPartV>
    </IRS990ScheduleK>
    <IRS990ScheduleO documentId="00000010" softwareId="12000225">
      <GeneralExplanation>
        <Identifier>Pt VI, Line 11b</Identifier>
        <Explanation>Form 990 is available for review by all Board Members;</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>additionally, the return is prepared by the staff CPA</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>and reviewed by the school's controller prior to filing.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Pt VI, Line 19</Identifier>
        <Explanation>The organization mails a these documents if requested, or</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>invites the requestor to review these documents at the</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>school's business office.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Pt VI, Line 15b</Identifier>
        <Explanation>Salaries of the headmaster and employees are reviewed</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>and approved during meetings of the board of directors.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Pt VI, Line 15a</Identifier>
        <Explanation>Salary of the headmaster is reviewed and approved</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>during meetings of the board of directors.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>