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      <ReconcilationRevenueExpenses>128652</ReconcilationRevenueExpenses>
      <ReconcilationOtherChanges>0</ReconcilationOtherChanges>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>0</AccountantCompileOrReview>
      <FSAudited>0</FSAudited>
      <FederalGrantAuditRequired>0</FederalGrantAuditRequired>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc1039100001">
      <PubliclySupportedOrg509a2>X</PubliclySupportedOrg509a2>
      <TaxRevLeviedForOrgBenefit509>
        <CurrentTaxYearMinus1Year>11200</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>439100</CurrentTaxYear>
        <Total>450300</Total>
      </TaxRevLeviedForOrgBenefit509>
      <Total509>
        <CurrentTaxYearMinus1Year>11200</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>439100</CurrentTaxYear>
        <Total>450300</Total>
      </Total509>
      <AmtsRecdFromDisqualPersons>
        <Total>0</Total>
      </AmtsRecdFromDisqualPersons>
      <AmtsFromSubstContributors>
        <CurrentTaxYear>372100</CurrentTaxYear>
        <Total>372100</Total>
      </AmtsFromSubstContributors>
      <SupportFromDQPsEtc>
        <CurrentTaxYear>372100</CurrentTaxYear>
        <Total>372100</Total>
      </SupportFromDQPsEtc>
      <PublicSupportTotal509>78200</PublicSupportTotal509>
      <GrossInvestmentIncome509>
        <CurrentTaxYear>137</CurrentTaxYear>
        <Total>137</Total>
      </GrossInvestmentIncome509>
      <InvestmentIncomeAndUBTI>
        <CurrentTaxYear>137</CurrentTaxYear>
        <Total>137</Total>
      </InvestmentIncomeAndUBTI>
      <OtherIncome509>
        <CurrentTaxYear>500</CurrentTaxYear>
        <Total>500</Total>
      </OtherIncome509>
      <TotalSupportTotal>
        <CurrentTaxYearMinus1Year>11200</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>439737</CurrentTaxYear>
        <Total>450937</Total>
      </TotalSupportTotal>
      <First5Years509>X</First5Years509>
      <GeneralExplanation>SCHEDULE A, PART IV, SUPPLEMENTAL INFORMATION: SCHEDULE A, PART III, LINE 12, EXPLANATION FOR OTHER INCOME: SPEAKER FEES: $500</GeneralExplanation>
    </IRS990ScheduleA>
    <IRS990ScheduleD documentId="RetDoc1040000001">
      <Equipment>
        <OtherCostOrOtherBasis>28659</OtherCostOrOtherBasis>
        <Depreciation>1461</Depreciation>
        <BookValue>27198</BookValue>
      </Equipment>
      <TotalOfBookValueLandBuildings>27198</TotalOfBookValueLandBuildings>
    </IRS990ScheduleD>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 6</ReturnReference>
        <Explanation>THERE ARE TWO CLASSES OF MEMBERS: FOUNDING MEMBERS WHICH SHALL BE THE 10 INDEPENDENT SCHOOLS THAT SIGNED TWO-YEAR MEMBERSHIP CONTRACTS WITH GLOBAL ONLINE ACADEMY BY JULY 8, 2011 AND PAID THE DESIGNATED MEMBERSHIP FEE; AND MEMBERS WHICH ARE SCHOOLS THAT HAVE JOINED THE ACADEMY AFTER THAT DATE. EVERY FOUNDING MEMBER SCHOOL WILL HAVE ONE SEAT ON GLOBAL ONLINE ACADEMY'S GOVERNING BOARD OF DIRECTORS DURING THE FIRST THREE YEARS OF OPERATION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 11</ReturnReference>
        <Explanation>THE TAX RETURN IS REVIEWED IN DETAIL BY THE EXECUTIVE DIRECTOR. A FINALIZED COPY OF THE RETURN IS SENT TO THE BOARD OF DIRECTORS PRIOR TO FILING THE RETURN WITH THE INTERNAL REVENUE SERVICE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 12C</ReturnReference>
        <Explanation>ALL TRUSTEES, OFFICERS AND KEY PERSONNEL SIGN A CONFLICT OF INTEREST POLICY. IF AN INDIVIDUAL BELIEVES THAT HE OR SHE MAY HAVE A CONFLICT OF INTEREST, THE INDIVIDUAL SHALL PROMPTLY AND FULLY DISCLOSE THE CONFLICT TO THE PRESIDENT OF THE BOARD OF TRUSTEES AND, WHEN APPROPRIATE, THE EXECUTIVE DIRECTOR, AND SHALL REFRAIN FROM PARTICIPATING IN ANY WAY IN THE MATTER TO WHICH THE CONFLICT RELATES UNTIL THE CONFLICT HAS BEEN RESOLVED. WHEN AN ISSUE BROUGHT TO THE FULL GLOBAL ONLINE ACADEMY BOARD OF TRUSTEES OR ONE OF ITS COMMITTEES FOR CONSIDERATION IS ONE IN WHICH A TRUSTEE HAS A DIRECT FINANCIAL INTEREST, THAT TRUSTEE IS ASKED TO MAKE THE CONFLICT OF INTEREST KNOWN IN WRITING TO THE PRESIDENT OF THE BOARD. IN ADDITION, WHEN THE ISSUE IS RAISED, EITHER IN COMMITTEE OR AT A REGULAR BOARD MEETING, THE TRUSTEE FOR WHOM THE ISSUE REPRESENTS A CONFLICT OF INTEREST SHOULD EXCUSE HIM OR HERSELF FROM THE MEETING DURING THE DISCUSSION AND VOTE. IN THE EVENT THAT THE ADMINISTRATION BELIEVES A TRANSACTION WITH A RELATED PARTY MAY BE IN THE BEST INTEREST OF THE ORGANIZATION, THE BOARD PRESIDENT AND EXECUTIVE DIRECTOR MAY SUBMIT A RECOMMENDATION TO THE BOARD OFFICERS FOR REVIEW, EVALUATION, AND RECOMMENDATION. AN INTERESTED TRUSTEE SHOULD NOT PARTICIPATE IN THIS DECISION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 15A</ReturnReference>
        <Explanation>COMPENSATION FOR THE EXECUTIVE DIRECTOR WAS DETERMINED BY THE BOARD. THE BOARD BENCHMARKED COMPENSATION AGAINST DATA FROM THE NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS. THE MISSION AND GOVERNANCE COMMITTEE DISCUSSED THE FINDINGS OF THE COMPENSATION BENCHMARKS TO DETERMINE REASONABLENESS. THE EXECUTIVE SESSION OF THE BOARD APPROVED THE FINAL COMPENSATION AMOUNTS DURING THE FISCAL YEAR ENDING JUNE 30, 2012.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART I, LINE 6:</ReturnReference>
        <Explanation>THERE ARE ELEVEN VOLUNTEER BOARD MEMBERS.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>