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        <BookValue>642409</BookValue>
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        <Depreciation>359125</Depreciation>
        <BookValue>3092388</BookValue>
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        <BookValue>282625</BookValue>
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        <Description>NOTE PAY-USAMERIBANK</Description>
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        <Description>NOTE PAY-DUE TO IAF</Description>
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      <OtherLiabilities>
        <Description>MTC INVESTMENT</Description>
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      <OtherLiabilities>
        <Description>WACHOVIA BANK LINE OF CREDIT</Description>
        <Amount>1082589</Amount>
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      <OtherLiabilities>
        <Description>RAIN TREE WOODS</Description>
        <Amount>440397</Amount>
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      <OtherLiabilities>
        <Description>DUE TOWARDS LIABILITIES OF ISLAMIC ACADEMY OF FLORIDA-BALANCE</Description>
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        <Description>STUDENT ACTIVITY</Description>
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        <Description>IPTA ACCOUNT</Description>
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      <OtherLiabilities>
        <Description>BOOK FAIR</Description>
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      <OtherLiabilities>
        <Description>DR. A. ELKADI SCHOLARSHIP</Description>
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        <Description>ADVANCE TUITIONS</Description>
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        <Description>STUDENT COUNCIL</Description>
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        <Description>OTHER</Description>
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      <OtherLiabilities>
        <Description>CHILD SUPPORT ENFORCEMENT</Description>
        <Amount>2693</Amount>
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      <OtherLiabilities>
        <Description>PAYROLL LIAB.</Description>
        <Amount>68742</Amount>
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      <OtherLiabilities>
        <Description>SENIOR CLASSES</Description>
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      <PolicyStatementInBrochuresEtc>true</PolicyStatementInBrochuresEtc>
      <PolicyPublViaBroadcastMedia>true</PolicyPublViaBroadcastMedia>
      <MaintRacialCompositionRecords>true</MaintRacialCompositionRecords>
      <MaintScholarshipsRecords>true</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>
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        <Identifier>Line 3</Identifier>
        <Explanation>LETTERS AND BROUCHORS</Explanation>
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        <Identifier>Pt VI, Line 19</Identifier>
        <Explanation>0</Explanation>
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      <GeneralExplanation>
        <Identifier>Pt III, Line 3</Identifier>
        <Explanation>N/A</Explanation>
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      <GeneralExplanation>
        <Identifier>Pt V, Line 3b</Identifier>
        <Explanation>N/A</Explanation>
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      <GeneralExplanation>
        <Identifier>Pt VI, Line 2</Identifier>
        <Explanation>N/A</Explanation>
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      <GeneralExplanation>
        <Identifier>Pt VI, Line 3</Identifier>
        <Explanation>N/A</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Pt VI, Line 4</Identifier>
        <Explanation>N/A</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Pt VI, Line 5</Identifier>
        <Explanation>N/A</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Pt VI, Line 6</Identifier>
        <Explanation>N/A</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Pt VI, Line 7a</Identifier>
        <Explanation>N/A</Explanation>
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      <GeneralExplanation>
        <Identifier>Pt VI, Line 7b</Identifier>
        <Explanation>N/A</Explanation>
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      <GeneralExplanation>
        <Identifier>Pt VI, Line 8a</Identifier>
        <Explanation>N/A</Explanation>
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      <GeneralExplanation>
        <Identifier>Pt VI, Line 8b</Identifier>
        <Explanation>N/A</Explanation>
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      <GeneralExplanation>
        <Identifier>Pt VI, Line 10b</Identifier>
        <Explanation>N/A</Explanation>
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      <GeneralExplanation>
        <Identifier>Pt VI, Line 12c</Identifier>
        <Explanation>N/A</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Pt XII, Line 1</Identifier>
        <Explanation>N/A</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Pt XII, Line 2c</Identifier>
        <Explanation>N/A</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Pt XI</Identifier>
        <Explanation>PREV YR DIFF</Explanation>
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      <GeneralExplanation>
        <Identifier>Pt VI, Line 11b</Identifier>
        <Explanation>PRESENTED BY TREASURER</Explanation>
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        <Identifier>Form 990, Part IX, Line 24f</Identifier>
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</Return>