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        <EOY>380726</EOY>
      </AccountsPayableAccruedExpenses>
      <MortNotesPyblSecuredInvestProp>
        <BOY>208651</BOY>
        <EOY>292032</EOY>
      </MortNotesPyblSecuredInvestProp>
      <TotalLiabilities>
        <BOY>471114</BOY>
        <EOY>672758</EOY>
      </TotalLiabilities>
      <FollowSFAS117>X</FollowSFAS117>
      <UnrestrictedNetAssets>
        <BOY>814092</BOY>
        <EOY>1588508</EOY>
      </UnrestrictedNetAssets>
      <TemporarilyRestrictedNetAssets>
        <BOY>255237</BOY>
        <EOY>229359</EOY>
      </TemporarilyRestrictedNetAssets>
      <TotalNetAssetsFundBalances>
        <BOY>1069329</BOY>
        <EOY>1817867</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>1540443</BOY>
        <EOY>2490625</EOY>
      </TotalLiabNetAssetsFundBalances>
      <ReconcilationRevenueExpenses>748538</ReconcilationRevenueExpenses>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>true</FSAudited>
      <FSAuditedBasis>
        <FinancialStatementSeparate>X</FinancialStatementSeparate>
      </FSAuditedBasis>
      <AuditCommittee>false</AuditCommittee>
      <FederalGrantAuditRequired>false</FederalGrantAuditRequired>
    </IRS990>
    <IRS990ScheduleA documentId="IRS990ScheduleA" softwareId="12000229" softwareVersion="2012v2.0">
      <School170b1Aii>X</School170b1Aii>
    </IRS990ScheduleA>
    <IRS990ScheduleD documentId="IRS990ScheduleD" softwareId="12000229" softwareVersion="2012v2.0">
      <LeaseholdImprovements>
        <OtherCostOrOtherBasis>689996</OtherCostOrOtherBasis>
        <Depreciation>431184</Depreciation>
        <BookValue>258812</BookValue>
      </LeaseholdImprovements>
      <OtherLandBuildings>
        <OtherCostOrOtherBasis>263979</OtherCostOrOtherBasis>
        <Depreciation>195180</Depreciation>
        <BookValue>68799</BookValue>
      </OtherLandBuildings>
      <TotalOfBookValueLandBuildings>327611</TotalOfBookValueLandBuildings>
      <TotRevenueEtcAuditedFinclStmt>5024209</TotRevenueEtcAuditedFinclStmt>
      <RevenueSubtotal>5024209</RevenueSubtotal>
      <TotalRevenuePerForm990>5024209</TotalRevenuePerForm990>
      <TotExpensesEtcAuditedFinclStmt>4275671</TotExpensesEtcAuditedFinclStmt>
      <ExpensesSubtotal>4275671</ExpensesSubtotal>
      <TotalExpensesPerForm990>4275671</TotalExpensesPerForm990>
    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="IRS990ScheduleE" softwareId="12000229" softwareVersion="2012v2.0">
      <NondiscriminatoryPolicyStmt>true</NondiscriminatoryPolicyStmt>
      <PolicyStatementInBrochuresEtc>true</PolicyStatementInBrochuresEtc>
      <PolicyPublViaBroadcastMedia>false</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 - Racially Nondiscriminatory Policy Publicized</Identifier>
        <Explanation>THE SCHOOL'S NON-DISCRIMINATION POLICY IS CONTAINED IN ITS HANDBOOK AND APPLICATIONS.</Explanation>
      </Form990ScheduleEPartII>
      <Form990ScheduleEPartII>
        <Identifier>Schedule E, Line 6 - Explanation of Aid or Assistance from Governmental Agency</Identifier>
        <Explanation>THE SCHOOL RECEIVES EQUALIZATION AND OTHER ASSISTANCE FROM THE STATE OF ARIZONA, AND FEDERAL GRANT AWARDS PASSED THROUGH BY THE STATE OF ARIZONA.</Explanation>
      </Form990ScheduleEPartII>
    </IRS990ScheduleE>
    <IRS990ScheduleL documentId="IRS990ScheduleL" softwareId="12000229" softwareVersion="2012v2.0">
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NameBusiness>
            <BusinessNameLine1>LEARNING MATTERS EDUCATIONAL GROUP</BusinessNameLine1>
          </NameBusiness>
        </NameOfInterestedPerson>
        <Relationship>COMMON DIRECTORS</Relationship>
        <AmountOfTransaction>652928</AmountOfTransaction>
        <DescriptionOfTransaction>MANAGEMENT FEES</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
    </IRS990ScheduleL>
    <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>ALL DOCUMENTS THAT ARE LEGALLY REQUIRED TO BE MADE AVAILABLE TO THE PUBLIC MAY BE REQUESTED AT THE SCHOOL'S OFFICE DURING REGULAR BUSINESS HOURS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 15a</Identifier>
        <ReturnReference>Form 990, Part VI, Line 15a: Compensation Review &amp; Approval Process - CEO, Top Management</ReturnReference>
        <Explanation>The top management functions of the Organization are performed by a management company. A board member of the Organization was assigned to review the pricing of the services and curriculum and technology agreements provided by Learning Matters Educational Group (LMEG), the management company. He reviewed the bids and quotes from other service providers to compare the pricing of the services quoted by LMEG, and consulted with the Organization's attorney to review the agreements that were provided by LMEG.</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 SCHOOL'S PRESIDENT REVIEWS THE FORM 990 AND APPROVES FOR SUBMISSION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 3</Identifier>
        <ReturnReference>Form 990, Part VI, Line 3: Description of Delegated Duties to Management Company</ReturnReference>
        <Explanation>MANAGEMENT COMPANY LEARNING MATTERS EDUCATIONAL GROUP, LLC PROVIDES PAYROLL, OFFICE AND OTHER MANAGEMENT SERVICES.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 2</Identifier>
        <ReturnReference>Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et</ReturnReference>
        <Explanation>DIRECTOR TIMOTHY SMITH AND DIRECTOR SHANNON SMITH ARE MARRIED.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="IRS990ScheduleR" softwareId="12000229" softwareVersion="2012v2.0">
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>CARDEN TRADITIONAL SCHOOL OF GLENDALE</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>4744 W GROVERS AVE</AddressLine1>
          <City>GLENDALE</City>
          <State>AZ</State>
          <ZIPCode>85308</ZIPCode>
        </AddressUS>
        <EIN>860823179</EIN>
        <PrimaryActivities>CHARTER SCHOOL</PrimaryActivities>
        <LegalDomicileState>AZ</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>2</PublicCharityStatus>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <ControlledOrg>false</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>CALIBRE ACADEMY INC</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>4744 W GROVERS AVE</AddressLine1>
          <City>GLENDALE</City>
          <State>AZ</State>
          <ZIPCode>85308</ZIPCode>
        </AddressUS>
        <EIN>861003326</EIN>
        <PrimaryActivities>CHARTER SCHOOL</PrimaryActivities>
        <LegalDomicileState>AZ</LegalDomicileState>
        <ExemptCodeSection>501(c)(3)</ExemptCodeSection>
        <PublicCharityStatus>2</PublicCharityStatus>
        <DirectControllingEntityNA>N/A</DirectControllingEntityNA>
        <ControlledOrg>false</ControlledOrg>
      </Form990ScheduleRPartII>
      <ReceiptOfIntAnnRentsRoyalties>false</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>false</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>false</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>true</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>false</LoansOrGuaranteesFromOtherOrg>
      <DividendsRelatedOrganization>false</DividendsRelatedOrganization>
      <SaleOfAssetsToOtherOrg>false</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>false</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>false</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>true</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>false</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>false</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>false</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>false</SharingOfFacilities>
      <SharingOfPaidEmployees>false</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>false</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>false</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>false</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>false</OtherTransferFromOtherOrg>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>CALIBRE ACADEMY INC</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>j</TransactionType>
        <AmountInvolved>60000</AmountInvolved>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>CALIBRE ACADEMY INC</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>d</TransactionType>
        <AmountInvolved>16913048</AmountInvolved>
      </TransactionsRelatedOrgsTable>
    </IRS990ScheduleR>
  </ReturnData>
</Return>