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      <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>true</GovernmentFinancialAidReceived>
      <GovernmentFinancialAidRevoked>false</GovernmentFinancialAidRevoked>
      <ComplianceWithRevProc7550>true</ComplianceWithRevProc7550>
      <Form990ScheduleEPartII>
        <Identifier>Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized</Identifier>
        <Explanation>All brochures contain a non-discriminatory statement.</Explanation>
      </Form990ScheduleEPartII>
    </IRS990ScheduleE>
    <IRS990ScheduleG documentId="IRS990ScheduleG" softwareId="12000229" softwareVersion="2012v2.0">
      <MailSolicitations>X</MailSolicitations>
      <EmailSolicitations>X</EmailSolicitations>
      <PhoneSolicitations>X</PhoneSolicitations>
      <InPersonSolicitations>X</InPersonSolicitations>
      <SolicitationOfNonGovtGrants>X</SolicitationOfNonGovtGrants>
      <SolicitationOfGovtGrants>X</SolicitationOfGovtGrants>
      <SpecialFundraisingEvents>X</SpecialFundraisingEvents>
      <AgreementRefFundraising>false</AgreementRefFundraising>
      <EventsInformation>
        <NameOfEvent1>40th Aniversery event</NameOfEvent1>
        <GrossReceiptsEvent1>314871</GrossReceiptsEvent1>
        <CharitableContributionsEvent1>314871</CharitableContributionsEvent1>
        <GrossReceiptsTotal>314871</GrossReceiptsTotal>
        <CharitableContributionsTotal>314871</CharitableContributionsTotal>
      </EventsInformation>
    </IRS990ScheduleG>
    <IRS990ScheduleI documentId="IRS990ScheduleI" softwareId="12000229" softwareVersion="2012v2.0">
      <RecordsMaintained>true</RecordsMaintained>
      <TotalNbrOf501C3AndGovtGrants>0</TotalNbrOf501C3AndGovtGrants>
      <TotalNbrOfOtherOrganizations>0</TotalNbrOfOtherOrganizations>
      <Form990ScheduleIPartIII>
        <TypeOfGrant>Scholorships/Grants for students</TypeOfGrant>
        <NumberOfRecipients>117</NumberOfRecipients>
        <AmountOfCashGrant>1769128</AmountOfCashGrant>
      </Form990ScheduleIPartIII>
    </IRS990ScheduleI>
    <IRS990ScheduleJ documentId="IRS990ScheduleJ" softwareId="12000229" softwareVersion="2012v2.0">
      <CompensationCommittee>X</CompensationCommittee>
      <IndependentConsultant>X</IndependentConsultant>
      <Form990OfOtherOrganizations>X</Form990OfOtherOrganizations>
      <WrittenEmploymentContract>X</WrittenEmploymentContract>
      <CompensationSurvey>X</CompensationSurvey>
      <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>
      <RebuttablePresumptionProcedure>false</RebuttablePresumptionProcedure>
      <Form990ScheduleJPartII>
        <NamePerson>John Enright</NamePerson>
        <Title>Undergraguate Program Dir.</Title>
        <BaseCompensationFilingOrg>175750</BaseCompensationFilingOrg>
        <DeferredCompFilingOrg>10545</DeferredCompFilingOrg>
        <TotalCompensationFilingOrg>186295</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>James Bennett</NamePerson>
        <Title>COO/CFO</Title>
        <BaseCompensationFilingOrg>204166</BaseCompensationFilingOrg>
        <DeferredCompFilingOrg>22500</DeferredCompFilingOrg>
        <TotalCompensationFilingOrg>226666</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>HisinMing Fung</NamePerson>
        <Title>Director of Academic Affairs</Title>
        <BaseCompensationFilingOrg>217233</BaseCompensationFilingOrg>
        <DeferredCompFilingOrg>22500</DeferredCompFilingOrg>
        <TotalCompensationFilingOrg>239733</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Henan Diaz-Alonso</NamePerson>
        <Title>Graduate Program Director</Title>
        <BaseCompensationFilingOrg>271891</BaseCompensationFilingOrg>
        <DeferredCompFilingOrg>16314</DeferredCompFilingOrg>
        <TotalCompensationFilingOrg>288205</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Eric Owen Moss</NamePerson>
        <Title>CEO</Title>
        <BaseCompensationFilingOrg>413808</BaseCompensationFilingOrg>
        <DeferredCompFilingOrg>76500</DeferredCompFilingOrg>
        <TotalCompensationFilingOrg>490308</TotalCompensationFilingOrg>
        <CompReportPrior990FilingOrg>54000</CompReportPrior990FilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Andrew Zago</NamePerson>
        <Title>Director</Title>
        <BaseCompensationFilingOrg>163666</BaseCompensationFilingOrg>
        <DeferredCompFilingOrg>17000</DeferredCompFilingOrg>
        <TotalCompensationFilingOrg>180666</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="IRS990ScheduleK.1" softwareId="12000229" softwareVersion="2012v2.0">
      <Form990ScheduleKPartI>
        <BondReferenceCd>A</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1>CA Muni Finance Authority</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>201569466</IssuerEIN>
        <DateIssued>2011-04-21</DateIssued>
        <IssuePrice>18480000</IssuePrice>
        <DescriptionOfPurpose>Purchase land and building</DescriptionOfPurpose>
        <Defeased>false</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
        <PoolFinancing>false</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartII>
        <BondReferenceCd>A</BondReferenceCd>
        <TotalProceeds>18480000</TotalProceeds>
        <CapitalExpenditures>18480000</CapitalExpenditures>
        <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>
        <EngageBondCounselResearch>false</EngageBondCounselResearch>
        <NonQualifiedBondRemedProcdrs>true</NonQualifiedBondRemedProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIV>
        <BondReferenceCd>A</BondReferenceCd>
        <Form8038TFiled>false</Form8038TFiled>
        <HedgeIdentifiedInBooksAndRecds>false</HedgeIdentifiedInBooksAndRecds>
        <GrossProceedsInvestedInGIC>false</GrossProceedsInvestedInGIC>
        <GrossProceedsInvested>false</GrossProceedsInvested>
        <WrittenProcToMonitorReqs>false</WrittenProcToMonitorReqs>
      </Form990ScheduleKPartIV>
    </IRS990ScheduleK>
    <IRS990ScheduleL documentId="IRS990ScheduleL" softwareId="12000229" softwareVersion="2012v2.0">
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>Thom Mayne</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>Director</Relationship>
        <AmountOfTransaction>40000</AmountOfTransaction>
        <DescriptionOfTransaction>Studio</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>Joe Day</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>Director</Relationship>
        <AmountOfTransaction>2000</AmountOfTransaction>
        <DescriptionOfTransaction>Symposium</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>Eric Owen Moss Architects</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>Officer</Relationship>
        <AmountOfTransaction>5480</AmountOfTransaction>
        <DescriptionOfTransaction>Campus Study</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
    </IRS990ScheduleL>
    <IRS990ScheduleM documentId="IRS990ScheduleM" softwareId="12000229" softwareVersion="2012v2.0">
      <OtherNonCashContributionsTable>
        <NonCashCheckbox>X</NonCashCheckbox>
        <Description>Services</Description>
        <NumberOfContributions>1</NumberOfContributions>
        <NoncashContribsRptdF990>40000</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>Similar services</MethodOfDeterminingRevenues>
      </OtherNonCashContributionsTable>
      <OtherNonCashContributionsTable>
        <NonCashCheckbox>X</NonCashCheckbox>
        <Description>Services</Description>
        <NumberOfContributions>1</NumberOfContributions>
        <NoncashContribsRptdF990>31000</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>Similar services</MethodOfDeterminingRevenues>
      </OtherNonCashContributionsTable>
      <AnyPropertyThatMustBeHeld>false</AnyPropertyThatMustBeHeld>
      <ReviewProcessUnusualNCGifts>true</ReviewProcessUnusualNCGifts>
      <ThirdPartiesUsed>false</ThirdPartiesUsed>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="IRS990ScheduleO" softwareId="12000229" softwareVersion="2012v2.0">
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 19</Identifier>
        <ReturnReference>Form 990, Part VI, Line 19: Other Organization Documents Publicly Available</ReturnReference>
        <Explanation>Upon request.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 15b</Identifier>
        <ReturnReference>Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees</ReturnReference>
        <Explanation>Before a change in compensation for the Executive Director and the Chief Financial Officer/Chief Operating Officer, in conjunction with an independent outside compensation consultant, comparable compensation information is provided by the Human resources director based on various surveys and reports from similar institutions. This is review by the Executive Directors compensation Review committee of the Board of Directors with a recommendation to the full Board of Directors. The full Board of Directors then deliberates and acts on the recommendation. For Key employee change in compensation, comparable compensation information is provided by the Human resources director based on various surveys and reports from similar institutions. This information is reviewed by the Executive Director when making his compensation determination.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 12c</Identifier>
        <ReturnReference>Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts</ReturnReference>
        <Explanation>Once a year there is a written survey that every Board member is required to complete.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 11b</Identifier>
        <ReturnReference>Form 990, Part VI, Line 11b: Form 990 Review Process</ReturnReference>
        <Explanation>The Form 990 is reviewed by the CFO, the Finance Director and the Finance Committee of the Board of Directors.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>