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        <ReturnReference>PART V, LINE 4:</ReturnReference>
        <Explanation>THE ENDOWMENT FUNDS OF THE ORGANIZATION SHALL BE USED TO ADVANCE THE PURPOSE AND GOALS OF THE COLLEGE, INCLUDING, BUT NOT LIMITED TO, THE BROADENING AND EXPANSION OF THE EDUCATION AND TRAINING OF TEACHERS AND POTENTIAL FUTURE TEACHERS AND PERFECTING THEIR SKILLS AS EDUCATORS, AND/OR ENRICHING THE LIVES OF THE INTERESTED PERSONS THROUGH ENHANCED KNOWLEDGE OF JEWISH HISTORY, TRADITION AND CULTURE THROUGH CLASSES AND PUBLIC LECTURES.</Explanation>
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      <GovernmentFinancialAidRevoked>0</GovernmentFinancialAidRevoked>
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        <Explanation>NON-DISCRIMINATION POLICY IS PUBLISHED IN ANNUAL CATALOGUES AND SEMESTER BROCHURES</Explanation>
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        <Identifier>PROCEDURE FOR MONITORING GRANTS IN THE U.S.:</Identifier>
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        <Explanation>SCHEDULE I, PART I, LINE 2: THE SCHOLARSHIP FUNDS AWARDED TO THE STUDENTS ARE NOT PHYSICALLY TURNED OVER TO THE RECIPIENTS. THE SCHOLARSHIPS SIMPLY REDUCE THE STUDENTS' TUITION.</Explanation>
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    </IRS990ScheduleI>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 2</ReturnReference>
        <Explanation>LAURA SIEGAL AND ALVIN SIEGAL - FAMILY RELATIONSHIP</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 11</ReturnReference>
        <Explanation>THE BOARD NO LONGER OVERSEE'S THIS ENTITY AS OF JULY 1, 2012. THEREFORE, THEY WILL NOT BE REVIEWING THE RETURN.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 12C</ReturnReference>
        <Explanation>THE BOARD OF TRUSTEE'S BYLAWS INCLUDE A CONFLICT OF INTEREST POLICY WHICH REQUIRES TRUSTEES TO DISCLOSE TO THE BOARD ANY POSSIBLE CONFLICT OF INTEREST AT THE EARLIEST PRACTICAL TIME.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 15</ReturnReference>
        <Explanation>THE PRESIDENT CONDUCTS A SURVEY OF SIMILAR COLLEGES IN THE USA. THE FINDINGS ARE SHARED WITH THE CHAIRPERSON OF THE GOVERNINGS BOARD. THE EXECUTIVE COMMITTEE OF THE GOVERNING BOARD DELIBERATES AND DECIDES COMPENSATION RATES.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENT AVAILABLE TO THE PUBLIC UPON REQUEST.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>CHANGES IN NET ASSETS OR FUND BALANCES:</Identifier>
        <ReturnReference>FORM 990, PART XI, LINE 5:</ReturnReference>
        <Explanation>NET UNREALIZED LOSSES ON INVESTMENTS: -94,891. CHANGE IN ASSETS HELD IN TRUST -32,326. CHANGE IN UNFUNDED PENSION LIABILITY -568,173. TOTAL TO FORM 990, PART XI, LINE 5: -695,390.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>