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        <Explanation>INTRINSIC SCHOOLS IS A PUBLIC CHARTER SCHOOL WITH NO TUITION, THEREFORE NO SCHOLARSHIPS OR OTHER FINANCIAL ASSISTANCE IS AWARDED.</Explanation>
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    </IRS990ScheduleE>
    <IRS990ScheduleL documentId="RetDoc1042800001">
      <LoanTable>
        <NamePerson>JIM FRANK</NamePerson>
        <RelationshipWithOrganization>BOARD CHAIR</RelationshipWithOrganization>
        <PurposeOfLoan>PROVIDED DUE TO DELAYS IN RECEIVING PLANNED FOUNDATION GRANTS</PurposeOfLoan>
        <LoanToOrganization>X</LoanToOrganization>
        <OriginalPrincipalAmount>675000</OriginalPrincipalAmount>
        <BalanceDue>675000</BalanceDue>
        <Default>0</Default>
        <ApprovedByBoard>1</ApprovedByBoard>
        <WrittenAgreement>1</WrittenAgreement>
      </LoanTable>
      <TotalBalanceDue>675000</TotalBalanceDue>
    </IRS990ScheduleL>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 8B</ReturnReference>
        <Explanation>THE ENTITY'S BYLAWS ALLOW THE BOARD POWER TO APPOINT A COMMITTEE WITH CORPORATE AUTHORITY. DUE TO THE INFANCY OF THE ENTITY, THIS COMMITTEE HAS NOT BE APPOINTED AS OF THE FISCAL YEAR END.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 11</ReturnReference>
        <Explanation>FORM 990 IS PRESENTED TO THE BOARD OF DIRECTORS. BOARD MEMBERS REVIEW AND PROVIDE COMMENTS AND FEEDBACK REGARDING THE DOCUMENT. THE BOARD THEN APPROVES SUBMISSION OF FORM 990 ASSUMING ALL CHANGES (IF ANY) ARE MADE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 12C</ReturnReference>
        <Explanation>PER ADDENDUM B ARTICLE VIII OF THE ORGANIZATION'S BYLAWS, THE EXECUTIVE COMMITTEE CONDUCTS PERIODIC REVIEWS TO ENSURE COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY. THIS REVIEW COVERS ALL ARTICLES OF THE CONFLICT OF INTEREST POLICY.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 15</ReturnReference>
        <Explanation>THE SALARY FOR ALL EMPLOYEES WAS REVIEWED AND APPROVED BY CHICAGO PUBLIC SCHOOLS, THE AUTHORIZER OF THE ORGANIZATION'S CHARTER FOR OPERATING A CHARTER HIGH SCHOOL IN THE CITY OF CHICAGO.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>FORM 990, PART VI, SECTION C, LINE 19: INTRINSIC SCHOOLS IS SUBJECT TO THE OPEN MEETINGS ACT AND THE FREEDOM OF INFORMATION ACT. ALL DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST IN ADDITION TO PROVIDING CHICAGO PUBLIC SCHOOLS WITH THESE DOCUMENTS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINES 13 &amp; 14 - WRITTEN POLICIES:</ReturnReference>
        <Explanation>THE SCHOOL DID NOT HAVE A WRITTEN WHISTLEBLOWER POLICY OR WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICY IN PLACE AT JUNE 30, 2013 DUE TO THE ORGANIZATION'S INFANCY. THE SCHOOL IS IN THE PROCESS OF CREATING AND APPROVING WRITTEN POLICIES FOR BOTH AND PLAN TO IMPLEMENT THEM IN THE NEAR FUTURE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>OTHER FEES</Identifier>
        <ReturnReference>FORM 990, PART IX, LINE 11G</ReturnReference>
        <Explanation>CONSULTANT EXPENSE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 53,545. FUNDRAISING EXPENSES 10,700. TOTAL EXPENSES 64,245.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>