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      <DisclosedForCharitablePurposes>false</DisclosedForCharitablePurposes>
      <WrittenPolicyMonitoring>false</WrittenPolicyMonitoring>
      <Sect170hRequirementsSatisfied>false</Sect170hRequirementsSatisfied>
      <SolicitedAssetsForSale>false</SolicitedAssetsForSale>
      <AgentTrusteeEtc>false</AgentTrusteeEtc>
      <IncludedOnFS>false</IncludedOnFS>
      <EndowmentsHeldByUnrelatedOrgs>false</EndowmentsHeldByUnrelatedOrgs>
      <EndowmentsHeldByRelatedOrgs>false</EndowmentsHeldByRelatedOrgs>
      <AreRelatedOrgsListedScheduleR>false</AreRelatedOrgsListedScheduleR>
      <Land>
        <OtherCostOrOtherBasis>3670346</OtherCostOrOtherBasis>
        <BookValue>3670346</BookValue>
      </Land>
      <Buildings>
        <OtherCostOrOtherBasis>13103307</OtherCostOrOtherBasis>
        <Depreciation>1280005</Depreciation>
        <BookValue>11823302</BookValue>
      </Buildings>
      <Equipment>
        <OtherCostOrOtherBasis>677389</OtherCostOrOtherBasis>
        <Depreciation>457097</Depreciation>
        <BookValue>220292</BookValue>
      </Equipment>
      <TotalOfBookValueLandBuildings>15713940</TotalOfBookValueLandBuildings>
      <TotalRevenue>6405650</TotalRevenue>
      <TotalExpenses>6627188</TotalExpenses>
      <ExcessOrDeficitForYear>-221538</ExcessOrDeficitForYear>
      <ExcessOrDeficitPerFS>-221538</ExcessOrDeficitPerFS>
      <TotRevenueEtcAuditedFinclStmt>6443863</TotRevenueEtcAuditedFinclStmt>
      <OtherRevenues>38213</OtherRevenues>
      <RevenueNotRptdF990>38213</RevenueNotRptdF990>
      <RevenueSubtotal>6405650</RevenueSubtotal>
      <TotalRevenuePerForm990>6405650</TotalRevenuePerForm990>
      <TotExpensesEtcAuditedFinclStmt>6665401</TotExpensesEtcAuditedFinclStmt>
      <OtherExpensesIncluded>38213</OtherExpensesIncluded>
      <ExpensesNotRptdF990>38213</ExpensesNotRptdF990>
      <ExpensesSubtotal>6627188</ExpensesSubtotal>
      <TotalExpensesPerForm990>6627188</TotalExpensesPerForm990>
      <Form990ScheduleDPartXIV>
        <Identifier>RECONCILIATION OF CHANGES - OTHER</Identifier>
        <ReturnReference>SCHEDULE D, PAGE 4, PART XI, LINE 8</ReturnReference>
        <Explanation>SPECIAL EVENT EXPENSE 38,213 SPECIAL EVENT EXPENSE -38,213</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
        <Identifier>REVENUE AMOUNTS INCLUDED IN FINANCIALS - OTHER</Identifier>
        <ReturnReference>SCHEDULE D, PAGE 4, PART XII, LINE 2D</ReturnReference>
        <Explanation>SPECIAL EVENT EXPENSE 38,213</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
        <Identifier>EXPENSE AMOUNTS INCLUDED IN FINANCIALS - OTHER</Identifier>
        <ReturnReference>SCHEDULE D, PAGE 4, PART XIII, LINE 2D</ReturnReference>
        <Explanation>SPECIAL EVENT EXPENSE 38,213</Explanation>
      </Form990ScheduleDPartXIV>
    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="RetDoc5">
      <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>FINANCIAL AID OR GOVERNMENT ASSISTANCE EXPLANATION</Identifier>
        <ReturnReference>SCHEDULE E LINE 6</ReturnReference>
        <Explanation>THE ORGANIZATION RECEIVES STATE AND FEDERAL GRANTS TO OPERATE THE SCHOOL</Explanation>
      </Form990ScheduleEPartII>
    </IRS990ScheduleE>
    <IRS990ScheduleG documentId="RetDoc6">
      <LicensedStates>UT</LicensedStates>
      <EventsInformation>
        <NameOfEvent1>JOGAPALOOZA</NameOfEvent1>
        <GrossReceiptsEvent1>40819</GrossReceiptsEvent1>
        <GrossRevenueEvent1>40819</GrossRevenueEvent1>
        <OtherDirectExpensesEvent1>38213</OtherDirectExpensesEvent1>
        <GrossReceiptsTotal>40819</GrossReceiptsTotal>
        <GrossRevenueTotalEvents>40819</GrossRevenueTotalEvents>
        <OtherDirectExpensesTotalEvents>38213</OtherDirectExpensesTotalEvents>
        <DirectExpenseSummaryEvents>38213</DirectExpenseSummaryEvents>
        <NetIncomeSummary>2606</NetIncomeSummary>
      </EventsInformation>
    </IRS990ScheduleG>
    <IRS990ScheduleK documentId="RetDoc7">
      <Form990ScheduleKPartI>
        <IssuerName>
          <BusinessNameLine1>STATE CHARTER SCHOOL FINANCE AUTHOR</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>261275269</IssuerEIN>
        <CUSIPNumber>91754TAF0</CUSIPNumber>
        <DateIssued>2007-12-13</DateIssued>
        <IssuePrice>17707784</IssuePrice>
        <DescriptionOfPurpose>PURCHASE FACILITIES</DescriptionOfPurpose>
        <Defeased>false</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
        <PoolFinancing>false</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartII>
        <TotalProceeds>17707784</TotalProceeds>
        <AmountInReserveFund>1253650</AmountInReserveFund>
        <CapitalizedInterest>327250</CapitalizedInterest>
        <IssuanceCostsFromProceeds>353138</IssuanceCostsFromProceeds>
        <WorkingCapitalExpenditures>227636</WorkingCapitalExpenditures>
        <CapitalExpenditures>15625374</CapitalExpenditures>
        <YearOfSubstCompletion>2008</YearOfSubstCompletion>
        <CurrentRefunding>false</CurrentRefunding>
        <AdvanceRefunding>false</AdvanceRefunding>
        <FinalAllocationMade>true</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>true</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartIII>
        <OwningBondFinancedProperty>false</OwningBondFinancedProperty>
        <AnyLeaseArrangements>false</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>false</MngmentCntrctBondFinancdPrprty>
        <EngageBondCounselContracts>false</EngageBondCounselContracts>
        <AnyResearchAgreements>false</AnyResearchAgreements>
        <EngageBondCounselResearch>false</EngageBondCounselResearch>
        <PostIssuanceComplianceProcdrs>true</PostIssuanceComplianceProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIV>
        <Form8038TFiled>false</Form8038TFiled>
        <VariableRateIssue>false</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>false</HedgeIdentifiedInBooksAndRecds>
        <GrossProceedsInvestedInGIC>false</GrossProceedsInvestedInGIC>
        <GrossProceedsInvested>false</GrossProceedsInvested>
        <ExceptionToRebate>false</ExceptionToRebate>
      </Form990ScheduleKPartIV>
    </IRS990ScheduleK>
    <IRS990ScheduleL documentId="RetDoc8">
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>STEVE CRANDALL</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>RELATIVE-BOARD</Relationship>
        <AmountOfTransaction>118398</AmountOfTransaction>
        <DescriptionOfTransaction>EMPLOYEE</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartV>
        <Identifier>ADDITIONAL INFORMATION</Identifier>
        <ReturnReference>SCHEDULE L PART V</ReturnReference>
        <Explanation>AS IDENTIFIED IN PART VI SECTION A LINE 2 AND DETAILED IN SCHEDULE O STEVE CRANDALL EXECUTIVE DIRECTOR IS THE BROTHER OF DAVE CRANDALL BOARD PRESIDENT STEVES COMPENSATION AS AN EMPLOYEE OF THE SCHOOL ARE LISTED ABOVE IN PART IV</Explanation>
      </Form990ScheduleLPartV>
    </IRS990ScheduleL>
    <IRS990ScheduleO documentId="RetDoc9">
      <GeneralExplanation>
        <Identifier>RELATED PARTY INFORMATION AMONG OFFICERS</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 2</ReturnReference>
        <Explanation>DAVID CRANDALL STEVE CRANDALL BOARD PRES DIRECTOR BROTHER</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>ORGANIZATION'S PROCESS USED TO REVIEW FORM 990</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 11B</ReturnReference>
        <Explanation>REVIEWED BY MEMBERS OF THE BOARD AND APPROVED PRIOR TO SUBMISSION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>ENFORCEMENT OF CONFLICTS POLICY</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 12C</ReturnReference>
        <Explanation>BOARD SUBMITS FORMS WHICH ARE REVIEWED ANNUALLY.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>COMPENSATION PROCESS FOR TOP OFFICIAL</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 15A</ReturnReference>
        <Explanation>THE BOARD RECEIVES COMPENSATION AMOUNTS AND APPROVES.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>COMPENSATION PROCESS FOR OFFICERS</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 15B</ReturnReference>
        <Explanation>THE BOARD RECEIVES COMPENSATION AMOUNTS AND APPROVES.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>GOVERNING DOCUMENTS DISCLOSURE EXPLANATION</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 19</ReturnReference>
        <Explanation>GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST JUST AS FORMS 990.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc10">
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>SUMMIT ACADEMY HIGH SCHOOL</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>1225 EAST 13200 SOUTH</AddressLine1>
          <City>DRAPER</City>
          <State>UT</State>
          <ZIPCode>84020</ZIPCode>
        </AddressUS>
        <EIN>271884849</EIN>
        <PrimaryActivities>PUB SCHOOL</PrimaryActivities>
        <LegalDomicileState>UT</LegalDomicileState>
        <ExemptCodeSection>501C3</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>
      <SaleOfAssetsToOtherOrg>false</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>false</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>false</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>false</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>false</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>true</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>false</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>false</SharingOfFacilities>
      <SharingOfPaidEmployees>false</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>false</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>false</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>true</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>false</OtherTransferFromOtherOrg>
      <TransactionsRelatedOrgsTable>
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          <BusinessNameLine1>SUMMIT ACADEMY HIGH SCHOOL</BusinessNameLine1>
        </NameOfOtherOrganization>
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        <AmountInvolved>190695</AmountInvolved>
        <MethodOfAmtDetermination>AMOUNT RECD FOR SERVICES</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>SUMMIT ACADEMY HIGH SCHOOL</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>D</TransactionType>
        <AmountInvolved>200000</AmountInvolved>
        <MethodOfAmtDetermination>LOAN TO HIGH SCHOOL</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>SUMMIT ACADEMY HIGH SCHOOL</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>Q</TransactionType>
        <AmountInvolved>69774</AmountInvolved>
        <MethodOfAmtDetermination>ADVANCE TO HIGH SCHOOL</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
    </IRS990ScheduleR>
  </ReturnData>
</Return>