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    <BuildTS>2015-11-30 17:44:51Z</BuildTS>
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        <AverageHoursPerWeekRelated>0.0</AverageHoursPerWeekRelated>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>199098</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>20796</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Frederick Schaller</NamePerson>
        <Title>Vice Dean, TUCOM</Title>
        <AverageHoursPerWeek>38.0</AverageHoursPerWeek>
        <AverageHoursPerWeekRelated>0.0</AverageHoursPerWeekRelated>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>196549</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>20448</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>Upinder Sigh</NamePerson>
        <Title>PROFESSOR</Title>
        <AverageHoursPerWeek>38.0</AverageHoursPerWeek>
        <AverageHoursPerWeekRelated>0.0</AverageHoursPerWeekRelated>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>221940</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>18832</OtherCompensation>
      </Form990PartVIISectionA>
      <TotalReportableCompFromOrg>1637615</TotalReportableCompFromOrg>
      <TotalReportableCompFrmRltdOrgs>1284980</TotalReportableCompFrmRltdOrgs>
      <TotalOtherCompensation>557337</TotalOtherCompensation>
      <NumberIndividualsGT100K>41</NumberIndividualsGT100K>
      <FormersListed>false</FormersListed>
      <TotalCompGT150K>true</TotalCompGT150K>
      <CompensationFromOtherSources>false</CompensationFromOtherSources>
      <ContractorCompensation>
        <NameOfContractor>
          <NamePerson>JANIKING OF LAS VEGAS</NamePerson>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>FILE 51013</AddressLine1>
            <City>LOS ANGELES</City>
            <State>CA</State>
            <ZIPCode>90074</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>CUSTODIAL SERVICES</DescriptionOfServices>
        <Compensation>210900</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NamePerson>KNOWLEDGE DELIVERY SYSTEMS INC</NamePerson>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>110 WILLIAM ST 32ND FLOOR</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10038</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>EDUCATION SERVICES</DescriptionOfServices>
        <Compensation>163613</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NamePerson>ALLSCRIPTS</NamePerson>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>24630 NETWORK PL</AddressLine1>
            <City>CHICAGO</City>
            <State>IL</State>
            <ZIPCode>60673</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>COMPUTER SUPPLIES</DescriptionOfServices>
        <Compensation>145328</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NamePerson>LITTLER MENDELSON PC</NamePerson>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>PO BOX 45547</AddressLine1>
            <City>SAN FRANCISCO</City>
            <State>CA</State>
            <ZIPCode>94145</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>LEGAL SERVICES</DescriptionOfServices>
        <Compensation>136396</Compensation>
      </ContractorCompensation>
      <NumberOfContractorsGT100K>8</NumberOfContractorsGT100K>
      <GovernmentGrants>860462</GovernmentGrants>
      <AllOtherContributions>159002</AllOtherContributions>
      <TotalContributions>1019464</TotalContributions>
      <ProgramServiceRevenue>
        <Description>STUDENT TUITION /FEES</Description>
        <BusinessCode>611600</BusinessCode>
        <TotalRevenueColumn>37316402</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>37316402</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>MEDICAL CLINIC</Description>
        <BusinessCode>624100</BusinessCode>
        <TotalRevenueColumn>1527104</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>1527104</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <TotalProgramServiceRevenue>38843506</TotalProgramServiceRevenue>
      <InvestmentIncome>
        <TotalRevenueColumn>24289</TotalRevenueColumn>
        <ExclusionAmount>24289</ExclusionAmount>
      </InvestmentIncome>
      <IncomeFromInvestBondProceeds>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </IncomeFromInvestBondProceeds>
      <RoyaltiesRevenue>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </RoyaltiesRevenue>
      <RentalIncomeOrLoss>
        <Real>0</Real>
        <Personal>0</Personal>
      </RentalIncomeOrLoss>
      <NetRentalIncomeOrLoss>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </NetRentalIncomeOrLoss>
      <NetGainOrLossInvestments>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </NetGainOrLossInvestments>
      <NetIncomeFromFundraisingEvents>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </NetIncomeFromFundraisingEvents>
      <NetIncomeFromGaming>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </NetIncomeFromGaming>
      <NetIncomeOrLoss>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </NetIncomeOrLoss>
      <OtherRevenueMisc>
        <Description>RENTAL INCOME</Description>
        <BusinessCode>532000</BusinessCode>
        <TotalRevenueColumn>744461</TotalRevenueColumn>
        <ExclusionAmount>744461</ExclusionAmount>
      </OtherRevenueMisc>
      <OtherRevenueMisc>
        <Description>MISCELLANEOUS REVENUE</Description>
        <BusinessCode>900004</BusinessCode>
        <TotalRevenueColumn>434962</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>23682</RelatedOrExemptFunctionIncome>
        <ExclusionAmount>411280</ExclusionAmount>
      </OtherRevenueMisc>
      <TotalOtherRevenue>1179423</TotalOtherRevenue>
      <TotalRevenue>
        <TotalRevenueColumn>41066682</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>38867188</RelatedOrExemptFunctionIncome>
        <ExclusionAmount>1180030</ExclusionAmount>
      </TotalRevenue>
      <GrantsToDomesticOrgs>
        <Total>30018500</Total>
        <ProgramServices>30018500</ProgramServices>
      </GrantsToDomesticOrgs>
      <GrantsToDomesticIndividuals>
        <Total>20800</Total>
        <ProgramServices>20800</ProgramServices>
      </GrantsToDomesticIndividuals>
      <ForeignGrants>
        <Total>0</Total>
      </ForeignGrants>
      <BenefitsToMembers>
        <Total>0</Total>
      </BenefitsToMembers>
      <CompCurrentOfficersDirectors>
        <Total>335444</Total>
        <ProgramServices>299397</ProgramServices>
        <ManagementAndGeneral>30744</ManagementAndGeneral>
        <Fundraising>5303</Fundraising>
      </CompCurrentOfficersDirectors>
      <CompDisqualPersons>
        <Total>0</Total>
      </CompDisqualPersons>
      <OtherSalariesAndWages>
        <Total>15764447</Total>
        <ProgramServices>14070396</ProgramServices>
        <ManagementAndGeneral>1444831</ManagementAndGeneral>
        <Fundraising>249220</Fundraising>
      </OtherSalariesAndWages>
      <PensionPlanContributions>
        <Total>294457</Total>
        <ProgramServices>262815</ProgramServices>
        <ManagementAndGeneral>26987</ManagementAndGeneral>
        <Fundraising>4655</Fundraising>
      </PensionPlanContributions>
      <OtherEmployeeBenefits>
        <Total>1238237</Total>
        <ProgramServices>1105176</ProgramServices>
        <ManagementAndGeneral>113486</ManagementAndGeneral>
        <Fundraising>19575</Fundraising>
      </OtherEmployeeBenefits>
      <PayrollTaxes>
        <Total>1043375</Total>
        <ProgramServices>931253</ProgramServices>
        <ManagementAndGeneral>95627</ManagementAndGeneral>
        <Fundraising>16495</Fundraising>
      </PayrollTaxes>
      <FeesForServicesManagement>
        <Total>0</Total>
      </FeesForServicesManagement>
      <FeesForServicesLegal>
        <Total>154596</Total>
        <ProgramServices>137983</ProgramServices>
        <ManagementAndGeneral>14169</ManagementAndGeneral>
        <Fundraising>2444</Fundraising>
      </FeesForServicesLegal>
      <FeesForServicesAccounting>
        <Total>0</Total>
      </FeesForServicesAccounting>
      <FeesForServicesLobbying>
        <Total>66000</Total>
        <ProgramServices>58908</ProgramServices>
        <ManagementAndGeneral>6049</ManagementAndGeneral>
        <Fundraising>1043</Fundraising>
      </FeesForServicesLobbying>
      <FeesForServicesProfFundraising>
        <Total>0</Total>
      </FeesForServicesProfFundraising>
      <FeesForServicesInvstMgmntFees>
        <Total>0</Total>
      </FeesForServicesInvstMgmntFees>
      <FeesForServicesOther>
        <Total>337413</Total>
        <ProgramServices>301155</ProgramServices>
        <ManagementAndGeneral>30924</ManagementAndGeneral>
        <Fundraising>5334</Fundraising>
      </FeesForServicesOther>
      <Advertising>
        <Total>228545</Total>
        <ProgramServices>203986</ProgramServices>
        <ManagementAndGeneral>20946</ManagementAndGeneral>
        <Fundraising>3613</Fundraising>
      </Advertising>
      <OfficeExpenses>
        <Total>751352</Total>
        <ProgramServices>671268</ProgramServices>
        <ManagementAndGeneral>69878</ManagementAndGeneral>
        <Fundraising>10206</Fundraising>
      </OfficeExpenses>
      <InformationTechnology>
        <Total>424723</Total>
        <ProgramServices>379083</ProgramServices>
        <ManagementAndGeneral>38926</ManagementAndGeneral>
        <Fundraising>6714</Fundraising>
      </InformationTechnology>
      <Royalties>
        <Total>0</Total>
      </Royalties>
      <Occupancy>
        <Total>2655096</Total>
        <ProgramServices>2369779</ProgramServices>
        <ManagementAndGeneral>243343</ManagementAndGeneral>
        <Fundraising>41974</Fundraising>
      </Occupancy>
      <Travel>
        <Total>326925</Total>
        <ProgramServices>291794</ProgramServices>
        <ManagementAndGeneral>29963</ManagementAndGeneral>
        <Fundraising>5168</Fundraising>
      </Travel>
      <TravelEntrtnmntPublicOfficials>
        <Total>0</Total>
      </TravelEntrtnmntPublicOfficials>
      <ConferencesMeetings>
        <Total>80664</Total>
        <ProgramServices>71996</ProgramServices>
        <ManagementAndGeneral>7393</ManagementAndGeneral>
        <Fundraising>1275</Fundraising>
      </ConferencesMeetings>
      <Interest>
        <Total>40202</Total>
        <ManagementAndGeneral>40202</ManagementAndGeneral>
      </Interest>
      <PaymentsToAffiliates>
        <Total>0</Total>
      </PaymentsToAffiliates>
      <DepreciationDepletion>
        <Total>1321098</Total>
        <ProgramServices>1179133</ProgramServices>
        <ManagementAndGeneral>121080</ManagementAndGeneral>
        <Fundraising>20885</Fundraising>
      </DepreciationDepletion>
      <Insurance>
        <Total>101193</Total>
        <ProgramServices>90319</ProgramServices>
        <ManagementAndGeneral>9274</ManagementAndGeneral>
        <Fundraising>1600</Fundraising>
      </Insurance>
      <OtherExpenses>
        <Description>EDUCATIONAL PROGRAMS EXPENSE</Description>
        <Total>1764483</Total>
        <ProgramServices>1764483</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>STUDENT ACTIVITIES</Description>
        <Total>1644806</Total>
        <ProgramServices>1644806</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>BOOKSTORE</Description>
        <Total>411280</Total>
        <ProgramServices>411280</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>STUDENT RECRUITMENT EXPENSE</Description>
        <Total>279021</Total>
        <ProgramServices>279021</ProgramServices>
      </OtherExpenses>
      <AllOtherExpenses>
        <Total>661693</Total>
        <ProgramServices>608265</ProgramServices>
        <ManagementAndGeneral>45568</ManagementAndGeneral>
        <Fundraising>7860</Fundraising>
      </AllOtherExpenses>
      <TotalFunctionalExpenses>
        <Total>59964350</Total>
        <ProgramServices>57171596</ProgramServices>
        <ManagementAndGeneral>2389390</ManagementAndGeneral>
        <Fundraising>403364</Fundraising>
      </TotalFunctionalExpenses>
      <CashNonInterestBearing>
        <BOY>6232613</BOY>
        <EOY>6689460</EOY>
      </CashNonInterestBearing>
      <SavingsAndTempCashInvestments>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </SavingsAndTempCashInvestments>
      <PledgesAndGrantsReceivable>
        <BOY>0</BOY>
        <EOY>13616</EOY>
      </PledgesAndGrantsReceivable>
      <AccountsReceivable>
        <BOY>141221</BOY>
        <EOY>367096</EOY>
      </AccountsReceivable>
      <ReceivablesFromOfficersEtc>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </ReceivablesFromOfficersEtc>
      <ReceivablesFromDisqualPersons>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </ReceivablesFromDisqualPersons>
      <OtherNotesLoansReceivableNet>
        <BOY>646040</BOY>
        <EOY>340837</EOY>
      </OtherNotesLoansReceivableNet>
      <InventoriesForSaleOrUse>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </InventoriesForSaleOrUse>
      <PrepaidExpensesDeferredCharges>
        <BOY>930728</BOY>
        <EOY>779048</EOY>
      </PrepaidExpensesDeferredCharges>
      <LandBuildingsEquipmentBasis>47376780</LandBuildingsEquipmentBasis>
      <LandBldgEquipmentAccumDeprec>9578802</LandBldgEquipmentAccumDeprec>
      <LandBuildingsEquipmentBasisNet>
        <BOY>38392496</BOY>
        <EOY>37797978</EOY>
      </LandBuildingsEquipmentBasisNet>
      <InvestmentsPubTradedSecurities>
        <BOY>22629</BOY>
        <EOY>0</EOY>
      </InvestmentsPubTradedSecurities>
      <InvestmentsOtherSecurities>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </InvestmentsOtherSecurities>
      <InvestmentsProgramRelated>
        <BOY>3000</BOY>
        <EOY>0</EOY>
      </InvestmentsProgramRelated>
      <IntangibleAssets>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </IntangibleAssets>
      <OtherAssetsTotal>
        <BOY>32922287</BOY>
        <EOY>12153310</EOY>
      </OtherAssetsTotal>
      <TotalAssets>
        <BOY>79291014</BOY>
        <EOY>58141345</EOY>
      </TotalAssets>
      <AccountsPayableAccruedExpenses>
        <BOY>5381580</BOY>
        <EOY>5356436</EOY>
      </AccountsPayableAccruedExpenses>
      <GrantsPayable>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </GrantsPayable>
      <DeferredRevenue>
        <BOY>4432025</BOY>
        <EOY>5329654</EOY>
      </DeferredRevenue>
      <TaxExemptBondLiabilities>
        <BOY>22295991</BOY>
        <EOY>21894969</EOY>
      </TaxExemptBondLiabilities>
      <EscrowAccountLiability>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </EscrowAccountLiability>
      <LoansFromOfficersDirectors>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </LoansFromOfficersDirectors>
      <MortNotesPyblSecuredInvestProp>
        <BOY>11922894</BOY>
        <EOY>11178626</EOY>
      </MortNotesPyblSecuredInvestProp>
      <UnsecuredNotesLoansPayable>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </UnsecuredNotesLoansPayable>
      <OtherLiabilities>
        <BOY>2000000</BOY>
        <EOY>0</EOY>
      </OtherLiabilities>
      <TotalLiabilities>
        <BOY>46032490</BOY>
        <EOY>43759685</EOY>
      </TotalLiabilities>
      <FollowSFAS117>X</FollowSFAS117>
      <UnrestrictedNetAssets>
        <BOY>33071256</BOY>
        <EOY>14111936</EOY>
      </UnrestrictedNetAssets>
      <TemporarilyRestrictedNetAssets>
        <BOY>187268</BOY>
        <EOY>269723</EOY>
      </TemporarilyRestrictedNetAssets>
      <PermanentlyRestrictedNetAssets>
        <BOY>0</BOY>
        <EOY>0</EOY>
      </PermanentlyRestrictedNetAssets>
      <TotalNetAssetsFundBalances>
        <BOY>33258524</BOY>
        <EOY>14381659</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>79291014</BOY>
        <EOY>58141345</EOY>
      </TotalLiabNetAssetsFundBalances>
      <InfoInScheduleOPartXI>X</InfoInScheduleOPartXI>
      <ReconcilationRevenueExpenses>-18897668</ReconcilationRevenueExpenses>
      <ReconcilationOtherChanges>20803</ReconcilationOtherChanges>
      <InfoInScheduleOPartXII>X</InfoInScheduleOPartXII>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>true</FSAudited>
      <FSAuditedBasis>
        <FinancialStatementBoth>X</FinancialStatementBoth>
      </FSAuditedBasis>
      <AuditCommittee>true</AuditCommittee>
      <FederalGrantAuditRequired>true</FederalGrantAuditRequired>
      <FederalGrantAuditPerformed>true</FederalGrantAuditPerformed>
    </IRS990>
    <IRS990ScheduleA documentId="IRS990ScheduleA">
      <School170b1Aii>X</School170b1Aii>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="IRS990ScheduleB">
      <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>
    <IRS990ScheduleC documentId="IRS990ScheduleC">
      <TotalGrassrootsLobbying />
      <TotalDirectLobbying />
      <TotalLobbyingExpenditures />
      <OtherExemptPurposeExpenditures />
      <TotalExemptPurposeExpenditures />
      <LobbyingNontaxableAmount />
      <GrassrootsNontaxableAmount />
      <TotLobbyingGrassrootMinusNonTx />
      <TotLobbyExpendMnsLobbyingNontx />
      <Volunteers>false</Volunteers>
      <PaidStaffOrManagement>false</PaidStaffOrManagement>
      <MediaAdvertisements>false</MediaAdvertisements>
      <MailingsMembers>false</MailingsMembers>
      <PublicationsOrBroadcast>false</PublicationsOrBroadcast>
      <GrantsOtherOrganizations>false</GrantsOtherOrganizations>
      <DirectContactLegislators>true</DirectContactLegislators>
      <DirectContactLegislatorsAmount>66000</DirectContactLegislatorsAmount>
      <RalliesDemonstrations>false</RalliesDemonstrations>
      <OtherActivities>false</OtherActivities>
      <TotalLobbyingExpendituresIIB>66000</TotalLobbyingExpendituresIIB>
      <NotDescribedIn501c3>false</NotDescribedIn501c3>
      <Form990ScheduleCPartIV>
        <Identifier>PART II-B, LINE 1(I)</Identifier>
        <ReturnReference>OTHER LOBBYING ACTIVITIES:</ReturnReference>
        <Explanation>THE UNIVERSITY HIRED LOBBYISTS TO ASSIST IN OBTAINING APPROVAL FROM FEDERAL AND STATE AGENCIES TO ENHANCE THE FACILITIES AND PROGRAMS OF THE UNIVERSITY. THE UNIVERSITY OR ITS REPRESENTATIVES MAY MEET WITH LEGISLATORS TO DISCUSS CERTAIN GRANTS.</Explanation>
      </Form990ScheduleCPartIV>
    </IRS990ScheduleC>
    <IRS990ScheduleD documentId="IRS990ScheduleD">
      <ArtPublicExhibitionAmts>
        <AssetsInPartX>22000</AssetsInPartX>
      </ArtPublicExhibitionAmts>
      <HeldWorksOfArtAmts />
      <CollectUsedForPublicExhibition>X</CollectUsedForPublicExhibition>
      <CollectUsedForPreservation>X</CollectUsedForPreservation>
      <SolicitedAssetsForSale>false</SolicitedAssetsForSale>
      <CurrentYearMinus3Years />
      <CurrentYearMinus4Years />
      <Land>
        <InvestmentCostOrOtherBasis>7731137</InvestmentCostOrOtherBasis>
        <BookValue>7731137</BookValue>
      </Land>
      <Buildings>
        <InvestmentCostOrOtherBasis>34815888</InvestmentCostOrOtherBasis>
        <Depreciation>6440571</Depreciation>
        <BookValue>28375317</BookValue>
      </Buildings>
      <LeaseholdImprovements />
      <Equipment>
        <InvestmentCostOrOtherBasis>1979799</InvestmentCostOrOtherBasis>
        <Depreciation>1476525</Depreciation>
        <BookValue>503274</BookValue>
      </Equipment>
      <OtherLandBuildings>
        <InvestmentCostOrOtherBasis>2849956</InvestmentCostOrOtherBasis>
        <Depreciation>1661706</Depreciation>
        <BookValue>1188250</BookValue>
      </OtherLandBuildings>
      <TotalOfBookValueLandBuildings>37797978</TotalOfBookValueLandBuildings>
      <OtherAssets>
        <Description>DUE (TO)/FROM TOURO UNIVERSITY</Description>
        <BookValue>-4571255</BookValue>
      </OtherAssets>
      <OtherAssets>
        <Description>DUE (TO)/FROM TOURO COLLEGE</Description>
        <BookValue>16225093</BookValue>
      </OtherAssets>
      <OtherAssets>
        <Description>INVENTORY</Description>
        <BookValue>262864</BookValue>
      </OtherAssets>
      <OtherAssets>
        <Description>ARTWORK INVENTORY</Description>
        <BookValue>22000</BookValue>
      </OtherAssets>
      <OtherAssets>
        <Description>A/R - OTHER</Description>
        <BookValue>6071</BookValue>
      </OtherAssets>
      <OtherAssets>
        <Description>SECURITY DEPOSITS</Description>
        <BookValue>6515</BookValue>
      </OtherAssets>
      <OtherAssets>
        <Description>A/R- OTHER</Description>
        <BookValue>199422</BookValue>
      </OtherAssets>
      <OtherAssets>
        <Description>RECLASS DIRECT STUDENT LOANS</Description>
        <BookValue>2600</BookValue>
      </OtherAssets>
      <TotalBookValueOtherAssets>12153310</TotalBookValueOtherAssets>
      <FederalIncomeTaxLiability>0</FederalIncomeTaxLiability>
      <TotalOfAmounts>0</TotalOfAmounts>
      <FootnoteInPartXIII>X</FootnoteInPartXIII>
      <TotRevenueEtcAuditedFinclStmt>41066682</TotRevenueEtcAuditedFinclStmt>
      <RevenueSubtotal>41066682</RevenueSubtotal>
      <TotalRevenuePerForm990>41066682</TotalRevenuePerForm990>
      <TotExpensesEtcAuditedFinclStmt>29943547</TotExpensesEtcAuditedFinclStmt>
      <ExpensesSubtotal>29943547</ExpensesSubtotal>
      <OtherExpensesNotIncluded>30020803</OtherExpensesNotIncluded>
      <ExpensesNotRptdOnFinStmt>30020803</ExpensesNotRptdOnFinStmt>
      <TotalExpensesPerForm990>59964350</TotalExpensesPerForm990>
      <Form990ScheduleDPartXIII>
        <Identifier>Part III Line 4</Identifier>
        <Explanation>ARTWORK IS USED TO BEAUTIFY THE FACILITIES TO ENHANCE STUDENT AND FACULTY ACCEPTANCE OF THEIR SURROUNDINGS. THE VALUE OF THE COLLECTION IS $22,000.</Explanation>
      </Form990ScheduleDPartXIII>
      <Form990ScheduleDPartXIII>
        <Identifier>PART X, LINE 2- ORGANIZATIONS LIABILITY FOR UNCERTAIN TAX POSITIONS.</Identifier>
        <Explanation>THE UNIVERSITY BELIEVES THAT IT HAS A MORE LIKELY THAN NOT POSSIBILITY OF SUCCESS WITH RESPECT TO ALL TAX POSITIONS TAKEN AND, AS SUCH, DOES NOT HAVE ANY UNCERTAIN TAX POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS.</Explanation>
      </Form990ScheduleDPartXIII>
      <Form990ScheduleDPartXIII>
        <Identifier>PART XII, LINE 4B</Identifier>
        <ReturnReference>OTHER</ReturnReference>
        <Explanation>ACADEMIC SUPPORT OF TOURO COLLEGE $30,000,000 RECLASS OF STUDENT LOANS $ 20,803 ------------ TOTAL $30,020,803 During the year ended June 30, 2013, the Board of Trustees of the University agreed to forgive $30,000,000 of the receivable due from the College that the University had advanced to the College in prior years. This forgiveness is reflected in the 2013 statement of activities, in the audited financial statments, as a nonoperating activity.</Explanation>
      </Form990ScheduleDPartXIII>
    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="IRS990ScheduleE">
      <NondiscriminatoryPolicyStmt>true</NondiscriminatoryPolicyStmt>
      <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>true</GovernmentFinancialAidReceived>
      <GovernmentFinancialAidRevoked>false</GovernmentFinancialAidRevoked>
      <ComplianceWithRevProc7550>true</ComplianceWithRevProc7550>
      <Form990ScheduleEPartII>
        <Identifier>Schedule E, line 3</Identifier>
        <Explanation>BROCHURES AND CATALOGS DISTRIBUTED TO STUDENTS AND RECRUITMENT ADVERTISEMENTS IN JOURNALS AND NEWSPAPERS, AS WELL AS ON TV, INTERNET AND THE RADIO CONTAIN STATEMENTS WITH RESPECT TO TOURO UNIVERSITY'S RACIALLY NONDISCRIMINATORY POLICY.</Explanation>
      </Form990ScheduleEPartII>
      <Form990ScheduleEPartII>
        <Identifier>SCHEDULE E, LINE 6 - EXPLANATION OF GOVERNMENT FINANCIAL AID:</Identifier>
        <Explanation>EXPLANATION OF GOVERNMENT FINANCIAL AID; STUDENTS ATTENDING THE UNIVERSITY MAY BE ELIGIBLE FOR FEDERAL FINANCIAL AID INCLUDING STUDENT LOANS. ADDITIONALLY, THE UNIVERSITY RECEIVED GRANTS FROM THE GOVERNMENT FOR RESEARCH AND FACILITY IMPROVEMENTS.</Explanation>
      </Form990ScheduleEPartII>
    </IRS990ScheduleE>
    <IRS990ScheduleF documentId="IRS990ScheduleF" />
    <IRS990ScheduleI documentId="IRS990ScheduleI">
      <RecordsMaintained>true</RecordsMaintained>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>CONGREGATION SHAREII TEFILAH</BusinessNameLine1>
        </RecipientNameBusiness>
        <AddressUS>
          <AddressLine1>1331 S Maryland Pkwy</AddressLine1>
          <City>Las Vegas</City>
          <State>NV</State>
          <ZIPCode>89104</ZIPCode>
        </AddressUS>
        <EINOfRecipient>880173548</EINOfRecipient>
        <IRCSection>501(C)(3)</IRCSection>
        <AmountOfCashGrant>18500</AmountOfCashGrant>
        <PurposeOfGrant>SEE PART IV</PurposeOfGrant>
      </RecipientTable>
      <RecipientTable>
        <RecipientNameBusiness>
          <BusinessNameLine1>TOURO COLLEGE</BusinessNameLine1>
        </RecipientNameBusiness>
        <AddressUS>
          <AddressLine1>27-33 WEST 23RD STREET</AddressLine1>
          <City>NEW YORK</City>
          <State>NY</State>
          <ZIPCode>10010</ZIPCode>
        </AddressUS>
        <EINOfRecipient>132676570</EINOfRecipient>
        <IRCSection>501(C)(3)</IRCSection>
        <AmountOfNonCashAssistance>30000000</AmountOfNonCashAssistance>
        <MethodOfValuation>book</MethodOfValuation>
        <DescriptionOfNonCashAssistance>deemed grant</DescriptionOfNonCashAssistance>
        <PurposeOfGrant>Receivable</PurposeOfGrant>
      </RecipientTable>
      <TotalNbrOf501C3AndGovtGrants>1</TotalNbrOf501C3AndGovtGrants>
      <Form990ScheduleIPartIII>
        <TypeOfGrant>STUDENT LOANS</TypeOfGrant>
        <NumberOfRecipients>10</NumberOfRecipients>
        <AmountOfCashGrant>20800</AmountOfCashGrant>
      </Form990ScheduleIPartIII>
      <Form990ScheduleIPartIV>
        <Identifier>PART I, LINE 2, PROCEDURES FOR MONITORING USE OF GRANT FUNDS</Identifier>
        <Explanation>PERIODIC VISITS TO ENTITY</Explanation>
      </Form990ScheduleIPartIV>
      <Form990ScheduleIPartIV>
        <Identifier>PART II, Line 1</Identifier>
        <Explanation>GRANT TO CONGREGATION SHAREII TEFILAH: TO SUPPORT LOCAL SYNAGOGUE THAT PROVIDES RELIGIOUS SUPPORT FOR THE COLLEGE CAMPUS IN NEVADA. Since its inception, Touro University Nevada received academic support from Touro College. DURING THIS REPORTING YEAR, THE BOARD OF TOURO UNIVERSITY NEVADA VOTED TO FORGIVE A PORTION OF THE RECEIVABLE FROM TOURO COLLEGE THAT HAD ARISEN OVER THE YEARS IN THE CONTEXT OF ACADEMIC SUPPORT AND THAT FORGIVENESS IS REPORTED AS A GRANT TO TOURO COLLEGE.</Explanation>
      </Form990ScheduleIPartIV>
    </IRS990ScheduleI>
    <IRS990ScheduleJ documentId="IRS990ScheduleJ">
      <FirstClassOrCharterTravel>X</FirstClassOrCharterTravel>
      <PersonalServices>X</PersonalServices>
      <WrittenPolicyReTAndEExpenses>false</WrittenPolicyReTAndEExpenses>
      <SubstantiationRequired>true</SubstantiationRequired>
      <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>
      <Form990ScheduleJPartII>
        <NamePerson>Andrew Eisen</NamePerson>
        <Title>Associate Dean</Title>
        <BaseCompensationFilingOrg>187343</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
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        <OtherCompensationFilingOrg>158</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>9093</DeferredCompFilingOrg>
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        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Mitchell Forman</NamePerson>
        <Title>DEAN TUN</Title>
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        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
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        <OtherCompensationFilingOrg>3048</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>12500</DeferredCompFilingOrg>
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      <Form990ScheduleJPartII>
        <NamePerson>Michael Harter</NamePerson>
        <Title>VICE PRESIDENT</Title>
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        <BonusFilingOrg>0</BonusFilingOrg>
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        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Ronald Hedger</NamePerson>
        <Title>Assistant Dean</Title>
        <BaseCompensationFilingOrg>183133</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>527</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>8823</DeferredCompFilingOrg>
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        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
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        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Alan Kadish</NamePerson>
        <Title>President and CEO</Title>
        <BaseCompensationFilingOrg>0</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>517410</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
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        <OtherCompensationRelatedOrgs>4518</OtherCompensationRelatedOrgs>
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        <NontaxableBenefitsFilingOrg>0</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>117771</NontaxableBenefitsRelatedOrgs>
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        <TotalCompensationRelatedOrgs>652199</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Daniel Lander</NamePerson>
        <Title>Chancellor and Trustee</Title>
        <BaseCompensationFilingOrg>0</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>203620</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>826</OtherCompensationRelatedOrgs>
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        <NontaxableBenefitsRelatedOrgs>139654</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>0</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>354173</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Melvin Ness</NamePerson>
        <Title>Senior VP &amp; CFO</Title>
        <BaseCompensationFilingOrg>0</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>262301</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>5223</OtherCompensationRelatedOrgs>
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        <DeferredCompRelatedOrgs>12500</DeferredCompRelatedOrgs>
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        <NontaxableBenefitsRelatedOrgs>25821</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>0</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>305845</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Paul Rennie</NamePerson>
        <Title>PROFESSOR</Title>
        <BaseCompensationFilingOrg>198456</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>642</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
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        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>219894</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Frederick Schaller</NamePerson>
        <Title>Vice Dean, TUCOM</Title>
        <BaseCompensationFilingOrg>195350</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>1199</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>0</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>20448</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
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        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Alan Schoor</NamePerson>
        <Title>Senior VP of Oper. &amp; Admin.</Title>
        <BaseCompensationFilingOrg>0</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>214195</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>3824</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>0</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>11346</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>0</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>59940</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>0</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>289305</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>Upinder Sigh</NamePerson>
        <Title>PROFESSOR</Title>
        <BaseCompensationFilingOrg>221728</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>212</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>0</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>18832</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>240772</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartIII>
        <Identifier>Part I, line 1A</Identifier>
        <Explanation>AN OFFICER OF THE UNIVERSITY IS PROVIDED WITH UPGRADED TRAVEL ON CERTAIN BUSINESS TRIPS.</Explanation>
      </Form990ScheduleJPartIII>
      <Form990ScheduleJPartIII>
        <Identifier>Part I, LINE 1B</Identifier>
        <Explanation>THE BENEFITS PROVIDED TO THE PRESIDENT ARE APPROVED BY THE BOARD. BENEFITS PROVIDED TO THE OFFICERS ARE APPROVED BY THE PRESIDENT.</Explanation>
      </Form990ScheduleJPartIII>
      <Form990ScheduleJPartIII>
        <Identifier>PART II, COLUMN D</Identifier>
        <Explanation>NONTAXABLE BENEFITS, AS APPLICABLE, INCLUDE QUALIFIED TUITION REDUCTION, PARSONAGE ALLOWANCES AND QUALIFIED BENEFITS UNDER TOURO COLLEGE'S CAFETERIA PLAN.</Explanation>
      </Form990ScheduleJPartIII>
    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="IRS990ScheduleK">
      <Form990ScheduleKPartI>
        <BondReferenceCd>A</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1>CITY OF HENDERSON NEVADA PUBLIC IMPROVEMENTS</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>886044935</IssuerEIN>
        <DateIssued>2010-03-23</DateIssued>
        <IssuePrice>23073789</IssuePrice>
        <DescriptionOfPurpose>SEE PART VI</DescriptionOfPurpose>
        <Defeased>false</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
        <PoolFinancing>false</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartII>
        <BondReferenceCd>A</BondReferenceCd>
        <AmountRetired>0</AmountRetired>
        <AmountBondDefeased>0</AmountBondDefeased>
        <TotalProceeds>23073789</TotalProceeds>
        <AmountInReserveFund>0</AmountInReserveFund>
        <CapitalizedInterest>0</CapitalizedInterest>
        <RefundingEscrow>0</RefundingEscrow>
        <IssuanceCostsFromProceeds>0</IssuanceCostsFromProceeds>
        <CreditEnhancement>0</CreditEnhancement>
        <WorkingCapitalExpenditures>0</WorkingCapitalExpenditures>
        <CapitalExpenditures>0</CapitalExpenditures>
        <OtherSpentProceeds>0</OtherSpentProceeds>
        <AmountUnspent>0</AmountUnspent>
        <YearOfSubstCompletion>2010</YearOfSubstCompletion>
        <CurrentRefunding>true</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</PrcntgePrvtBusinessUseByOthers>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIV>
        <BondReferenceCd>A</BondReferenceCd>
        <Form8038TFiled>false</Form8038TFiled>
        <NoRebateDue>false</NoRebateDue>
        <VariableRateIssue>true</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>false</HedgeIdentifiedInBooksAndRecds>
        <NameOfHedgeProvider>
          <BusinessNameLine1>0</BusinessNameLine1>
        </NameOfHedgeProvider>
        <GrossProceedsInvestedInGIC>false</GrossProceedsInvestedInGIC>
        <NameOfGICProvider>
          <BusinessNameLine1>0</BusinessNameLine1>
        </NameOfGICProvider>
        <GrossProceedsInvested>false</GrossProceedsInvested>
        <WrittenProcToMonitorReqs>false</WrittenProcToMonitorReqs>
      </Form990ScheduleKPartIV>
      <Form990ScheduleKPartV>
        <BondReferenceCd>A</BondReferenceCd>
        <ProcToUndertkCorrectiveAction>false</ProcToUndertkCorrectiveAction>
      </Form990ScheduleKPartV>
      <Form990ScheduleKPartVI>
        <Identifier>ISSUER NAME: CITY OF HENDERSON, NEVADA PUBLIC IMPROVEMENT TRUST</Identifier>
        <ReturnReference>0</ReturnReference>
        <Explanation>PURPOSE: Refunding of Tax Exempt Bonds</Explanation>
      </Form990ScheduleKPartVI>
    </IRS990ScheduleK>
    <IRS990ScheduleO documentId="IRS990ScheduleO">
      <GeneralExplanation>
        <Identifier>FORM 990 PART I, LINE 1 DESCRIPTION OF ORGANIZATION MISSION:</Identifier>
        <Explanation>TOURO UNIVERSITY'S PRIMARY PURPOSE IS TO PROVIDE AN INDEPENDENT INSTITUTION OF HIGHER EDUCATION WHICH OFFERS A FOUR YEAR PROGRAM LEADING TO A DEGREE OF DOCTOR OF OSTEOPATHIC MEDICINE AND PROGRAMS LEADING TO BACHELORS AND MASTERS DEGREES IN PHYSICIAN ASSISTANT, NURSING, OCCUPATIONAL THERAPY AND EDUCATION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>FORM 990 PART III, LINE 1</Identifier>
        <Explanation>TOURO UNIVERSITY NEVADA'S PRIMARY PURPOSE IS TO PROVIDE AN INDEPENDENT INSTITUTION OF HIGHER EDUCATION WHICH OFFERS A FOUR-YEAR PROGRAM LEADING TO A DEGREE OF DOCTOR OF OSTEOPATHIC MEDICINE AND PROGRAMS LEADING TO BACHELORS AND MASTERS DEGREES IN PHYSICIAN ASSISTANT, NURSING, OCCUPATIONAL THERAPY AND EDUCATION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>FORM 990, PART VI, SECTION A, LINE 6</Identifier>
        <Explanation>TOURO COLLEGE IS THE SOLE MEMBER OF THE FILING ENTITY.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>FORM 990, PART VI, SECTION A, LINE 7A</Identifier>
        <Explanation>TOURO COLLEGE IS THE SOLE MEMBER OF THE FILING ENTITY</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Section B, line 11</Identifier>
        <Explanation>CONTROLLER, AUDITORS, OFFICERS AND THE audit committee of the BOARD OF THE ORGANIZATION REVIEW THE FORM 990.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Section B, Line 12c</Identifier>
        <Explanation>THE ANNUAL BOARD QUESTIONNAIRE, WHICH REQUIRES DISCLOSURE OF CONFLICT OF INTEREST AND OTHER DETAILS, IS CIRCULATED TO ALL OF THE BOARD MEMBERS AND IS REVIEWED BY IN-HOUSE COUNSEL.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Section B, Line 15</Identifier>
        <Explanation>THE BOARD AND OFFICERS, WHO ARE FREE OF ANY CONFLICT, APPROVE EXECUTIVE HIRING DECISIONS. IN MAKING COMPENSATION DETERMINATIONS, THE BOARD CONSIDERS EXPERT REPORTS AND COMPENSATION TRENDS IN THE INDUSTRY, QUALIFICATIONS AND OTHER MERITS OF THE CANDIDATES IN DECIDING COMPENSATION AND OTHER EMPLOYEE BENEFITS. ALL SUCH BOARD DECISIONS ARE DOCUMENTED.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Section C, line 19</Identifier>
        <Explanation>THE FORM 990 AND RELATED INFORMATION ARE MADE AVAILABLE TO THE PUBLIC, CERTAIN GOVERNING POLICIES ARE INCLUDED IN TOURO COLLEGE; HOWEVER ITS CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE NOT MADE PUBLIC.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>FORM 990, PART XI, LINE 9</Identifier>
        <Explanation>RECLASS OF STUDENT LOANS $20,803 --------- $20,803</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="IRS990ScheduleR">
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>TOURO COLLEGE</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>C/O MELVIN NESS 27 W 23RD ST</AddressLine1>
          <City>NEW YORK</City>
          <State>NY</State>
          <ZIPCode>10010</ZIPCode>
        </AddressUS>
        <EIN>132676570</EIN>
        <PrimaryActivities>EDUCATION</PrimaryActivities>
        <LegalDomicileState>NY</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>LINE 2</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>NA</BusinessNameLine1>
        </DirectControllingEntityName>
        <ControlledOrg>false</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>TOURO UNIVERSITY CALIFORNIA</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>C/O MELVIN NESS 27 W 23RD ST</AddressLine1>
          <City>NEW YORK</City>
          <State>NY</State>
          <ZIPCode>10010</ZIPCode>
        </AddressUS>
        <EIN>133838740</EIN>
        <PrimaryActivities>EDUCATION</PrimaryActivities>
        <LegalDomicileState>CA</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>LINE 2</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>TOURO COLL</BusinessNameLine1>
        </DirectControllingEntityName>
        <ControlledOrg>true</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>TOURO UNIVERSITY COLLEGE OF MEDICINEINC</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>C/O MELVIN NESS 27 W 23RD ST</AddressLine1>
          <City>NEW YORK</City>
          <State>NY</State>
          <ZIPCode>10010</ZIPCode>
        </AddressUS>
        <EIN>680646771</EIN>
        <PrimaryActivities>EDUCATION</PrimaryActivities>
        <LegalDomicileState>NJ</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>LINE 2</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>TOURO COLL</BusinessNameLine1>
        </DirectControllingEntityName>
        <ControlledOrg>true</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>YESHIVAS OHR HACHAIM</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>C/O MELVIN NESS 27 W 23RD ST</AddressLine1>
          <City>NEW YORK</City>
          <State>NY</State>
          <ZIPCode>10010</ZIPCode>
        </AddressUS>
        <EIN>112808947</EIN>
        <PrimaryActivities>EDUCATION</PrimaryActivities>
        <LegalDomicileState>NY</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>LINE 2</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>TOURO COLL</BusinessNameLine1>
        </DirectControllingEntityName>
        <ControlledOrg>true</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>RABBI DOV REVEL YESHIVA OF FOREST HILLS</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>C/O MELVIN NESS 27 W 23RD ST</AddressLine1>
          <City>NEW YORK</City>
          <State>NY</State>
          <ZIPCode>10010</ZIPCode>
        </AddressUS>
        <EIN>111681674</EIN>
        <PrimaryActivities>EDUCATION</PrimaryActivities>
        <LegalDomicileState>NY</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>LINE 2</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>TOURO COLL</BusinessNameLine1>
        </DirectControllingEntityName>
        <ControlledOrg>true</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>TOURO COLLEGE FOUNDATION FOR JEWISH STUD</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>C/O MELVIN NESS 27 W 23RD ST</AddressLine1>
          <City>NEW YORK</City>
          <State>NY</State>
          <ZIPCode>10010</ZIPCode>
        </AddressUS>
        <EIN>133639225</EIN>
        <PrimaryActivities>EDUCATION</PrimaryActivities>
        <LegalDomicileState>NY</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>LINE 2</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>TOURO COLL</BusinessNameLine1>
        </DirectControllingEntityName>
        <ControlledOrg>true</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>NYMC LLC</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>C/O MELVIN NESS 27 W 23RD ST</AddressLine1>
          <City>NEW YORK</City>
          <State>NY</State>
          <ZIPCode>10010</ZIPCode>
        </AddressUS>
        <EIN>271481147</EIN>
        <PrimaryActivities>HOLDING CO</PrimaryActivities>
        <LegalDomicileState>DE</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>LINE 7</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>TOURO COLL</BusinessNameLine1>
        </DirectControllingEntityName>
        <ControlledOrg>true</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>NEW YORK MEDICAL COLLEGE</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>40 SUNSHINE COTTAGE ROAD</AddressLine1>
          <City>VALHALLA</City>
          <State>NY</State>
          <ZIPCode>10595</ZIPCode>
        </AddressUS>
        <EIN>131099420</EIN>
        <PrimaryActivities>EDUCATION</PrimaryActivities>
        <LegalDomicileState>NY</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>LINE 2</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>NYMC LLC</BusinessNameLine1>
        </DirectControllingEntityName>
        <ControlledOrg>true</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>PARTNERSHIP FOR A HEALTHLY POPULATION</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>C/O TOURO COLLEGE 27-33 W 23RD ST</AddressLine1>
          <City>NEW YORK</City>
          <State>NY</State>
          <ZIPCode>10010</ZIPCode>
        </AddressUS>
        <EIN>134038993</EIN>
        <PrimaryActivities>HEALTH AND ED</PrimaryActivities>
        <LegalDomicileState>NY</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>LINE 9</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>TOURO COL</BusinessNameLine1>
        </DirectControllingEntityName>
        <ControlledOrg>true</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartIV>
        <NameOfRelatedOrg>
          <BusinessNameLine1>TOURO SPEECH &amp; REHAB</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressUS>
          <AddressLine1>C/O MELVIN NESS 27 W 23RD ST</AddressLine1>
          <City>NEW YORK</City>
          <State>NY</State>
          <ZIPCode>10010</ZIPCode>
        </AddressUS>
        <EIN>134180235</EIN>
        <PrimaryActivity>INACTIVE</PrimaryActivity>
        <LegalDomicileState>NY</LegalDomicileState>
        <DirectControllingEntityName>
          <BusinessNameLine1>NA</BusinessNameLine1>
        </DirectControllingEntityName>
        <TypeOfEntity>C Corp</TypeOfEntity>
        <PercentageOwnership>1.00000</PercentageOwnership>
        <ControlledOrg>true</ControlledOrg>
      </Form990ScheduleRPartIV>
      <Form990ScheduleRPartIV>
        <NameOfRelatedOrg>
          <BusinessNameLine1>TOURO FOUNDATION CORPORATION</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressUS>
          <AddressLine1>C/O MELVIN NESS 27 W 23RD ST</AddressLine1>
          <City>NEW YORK</City>
          <State>NY</State>
          <ZIPCode>10010</ZIPCode>
        </AddressUS>
        <EIN>134014618</EIN>
        <PrimaryActivity>INACTIVE</PrimaryActivity>
        <LegalDomicileState>NY</LegalDomicileState>
        <DirectControllingEntityName>
          <BusinessNameLine1>NA</BusinessNameLine1>
        </DirectControllingEntityName>
        <TypeOfEntity>C Corp</TypeOfEntity>
        <PercentageOwnership>1.00000</PercentageOwnership>
        <ControlledOrg>true</ControlledOrg>
      </Form990ScheduleRPartIV>
      <Form990ScheduleRPartIV>
        <NameOfRelatedOrg>
          <BusinessNameLine1>TOURO UNIVERSITY FOUNDATION</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressUS>
          <AddressLine1>C/O MELVIN NESS 27 W 23RD ST</AddressLine1>
          <City>NEW YORK</City>
          <State>NY</State>
          <ZIPCode>10010</ZIPCode>
        </AddressUS>
        <EIN>943318585</EIN>
        <PrimaryActivity>INACTIVE</PrimaryActivity>
        <LegalDomicileState>CA</LegalDomicileState>
        <DirectControllingEntityName>
          <BusinessNameLine1>NA</BusinessNameLine1>
        </DirectControllingEntityName>
        <TypeOfEntity>C Corp</TypeOfEntity>
        <PercentageOwnership>1.00000</PercentageOwnership>
        <ControlledOrg>true</ControlledOrg>
      </Form990ScheduleRPartIV>
      <ReceiptOfIntAnnRentsRoyalties>false</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>true</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>false</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>true</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>true</LoansOrGuaranteesFromOtherOrg>
      <DividendsRelatedOrganization>false</DividendsRelatedOrganization>
      <SaleOfAssetsToOtherOrg>false</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>false</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>false</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>false</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>false</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>false</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>false</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>false</SharingOfFacilities>
      <SharingOfPaidEmployees>false</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>false</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>false</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>true</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>false</OtherTransferFromOtherOrg>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>Touro College</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>e</TransactionType>
        <AmountInvolved>32780544</AmountInvolved>
        <MethodOfAmtDetermination>BOND PRINCIPAL</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>Touro University California</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>e</TransactionType>
        <AmountInvolved>32780544</AmountInvolved>
        <MethodOfAmtDetermination>BOND PRINCIPAL</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>Touro University California</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>d</TransactionType>
        <AmountInvolved>19955000</AmountInvolved>
        <MethodOfAmtDetermination>BOND PRINCIPAL</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>Touro College</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>r</TransactionType>
        <AmountInvolved>9081261</AmountInvolved>
        <MethodOfAmtDetermination>CASH TRANSFER</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>Touro College</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>d</TransactionType>
        <AmountInvolved>21006667</AmountInvolved>
        <MethodOfAmtDetermination>BOND PRINCIPAL</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>Touro College</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>b</TransactionType>
        <AmountInvolved>30000000</AmountInvolved>
        <MethodOfAmtDetermination>Deemed Grant</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
    </IRS990ScheduleR>
  </ReturnData>
</Return>