﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2011v1.5" xsi:schemaLocation="http://www.irs.gov/efile">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2013-03-28T14:39:48-07:00</Timestamp>
    <TaxPeriodEndDate>2012-08-31</TaxPeriodEndDate>
    <PreparerFirm>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>GOMEZ &amp; COMPANY</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>5177 Richmond Ave Ste 1100</AddressLine1>
        <City>Houston</City>
        <State>TX</State>
        <ZIPCode>77056</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990</ReturnType>
    <TaxPeriodBeginDate>2011-09-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>010758906</EIN>
      <Name>
        <BusinessNameLine1>RIVERWALK EDUCATION FOUNDATION INC</BusinessNameLine1>
      </Name>
      <NameControl>RIVE</NameControl>
      <Phone>2108040222</Phone>
      <USAddress>
        <AddressLine1>5707 BANDERA ROAD</AddressLine1>
        <City>LEON VALLEY</City>
        <State>TX</State>
        <ZIPCode>78238</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>EMIN CAVUSOGLU</Name>
      <Title>SUPERINTENDENT</Title>
      <DateSigned>2013-03-28</DateSigned>
      <AuthorizeThirdParty>true</AuthorizeThirdParty>
    </Officer>
    <Preparer>
      <Name>BENJAMIN P GOMEZ</Name>
      <Phone>7136665900</Phone>
      <SelfEmployed>X</SelfEmployed>
    </Preparer>
    <TaxYear>2011</TaxYear>
    <BuildTS>2016-02-25 16:41:14Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="6">
    <IRS990 documentId="IRS990" referenceDocumentId="IRS990ScheduleO" softwareId="11000144" softwareVersion="2011v1.5">
      <GrossReceipts>14245395</GrossReceipts>
      <GroupReturnForAffiliates>false</GroupReturnForAffiliates>
      <AllAffiliatesIncluded>false</AllAffiliatesIncluded>
      <Organization501c3>X</Organization501c3>
      <WebSite>WWW.SSTTX.ORG</WebSite>
      <TypeOfOrganizationCorporation>X</TypeOfOrganizationCorporation>
      <YearFormation>2002</YearFormation>
      <StateLegalDomicile>TX</StateLegalDomicile>
      <ActivityOrMissionDescription>EDUCATION-OPERATION OF CHARTER SCHOOLS</ActivityOrMissionDescription>
      <NbrVotingMembersGoverningBody>4</NbrVotingMembersGoverningBody>
      <NbrIndependentVotingMembers>4</NbrIndependentVotingMembers>
      <TotalNbrEmployees>224</TotalNbrEmployees>
      <TotalGrossUBI>0</TotalGrossUBI>
      <ContributionsGrantsPriorYear>12155201</ContributionsGrantsPriorYear>
      <ContributionsGrantsCurrentYear>13419685</ContributionsGrantsCurrentYear>
      <ProgramServiceRevenuePriorYear>589123</ProgramServiceRevenuePriorYear>
      <ProgramServiceRevenueCY>825618</ProgramServiceRevenueCY>
      <InvestmentIncomePriorYear>50</InvestmentIncomePriorYear>
      <InvestmentIncomeCurrentYear>92</InvestmentIncomeCurrentYear>
      <OtherRevenueCurrentYear>0</OtherRevenueCurrentYear>
      <TotalRevenuePriorYear>12744374</TotalRevenuePriorYear>
      <TotalRevenueCurrentYear>14245395</TotalRevenueCurrentYear>
      <GrantsAndSimilarAmntsCY>0</GrantsAndSimilarAmntsCY>
      <BenefitsPaidToMembersCY>0</BenefitsPaidToMembersCY>
      <SalariesEtcPriorYear>6319880</SalariesEtcPriorYear>
      <SalariesEtcCurrentYear>7056860</SalariesEtcCurrentYear>
      <TotalProfFundrsngExpCY>0</TotalProfFundrsngExpCY>
      <TotalFundrsngExpCurrentYear>0</TotalFundrsngExpCurrentYear>
      <OtherExpensePriorYear>6271015</OtherExpensePriorYear>
      <OtherExpensesCurrentYear>6973032</OtherExpensesCurrentYear>
      <TotalExpensesPriorYear>12590895</TotalExpensesPriorYear>
      <TotalExpensesCurrentYear>14029892</TotalExpensesCurrentYear>
      <RevenuesLessExpensesPriorYear>153479</RevenuesLessExpensesPriorYear>
      <RevenuesLessExpensesCY>215503</RevenuesLessExpensesCY>
      <TotalAssetsBOY>10872988</TotalAssetsBOY>
      <TotalAssetsEOY>10841169</TotalAssetsEOY>
      <TotalLiabilitiesBOY>8852577</TotalLiabilitiesBOY>
      <TotalLiabilitiesEOY>8605255</TotalLiabilitiesEOY>
      <NetAssetsOrFundBalancesBOY>2020411</NetAssetsOrFundBalancesBOY>
      <NetAssetsOrFundBalancesEOY>2235914</NetAssetsOrFundBalancesEOY>
      <MissionDescription>EDUCATION-OPERATION OF CHARTER SCHOOLS</MissionDescription>
      <SignificantNewProgramServices>false</SignificantNewProgramServices>
      <SignificantChange>false</SignificantChange>
      <Expense>14029892</Expense>
      <Description>IT OPERATES A SCHOOL FOR THE BENEFIT OF CHILDREN IN SCHOOL DISTRICTS IN THE SAN ANTONIO AREA. THE FUNCTION OF OPERATING THE SCHOOL IS THE REASON FOR THE ORGANIZATION'S EXEMPT STATUS.</Description>
      <TotalProgramServiceExpense>14029892</TotalProgramServiceExpense>
      <DescribedIn501C3 referenceDocumentId="IRS990ScheduleA">true</DescribedIn501C3>
      <ScheduleBRequired>false</ScheduleBRequired>
      <PoliticalActivities>false</PoliticalActivities>
      <LobbyingActivities>false</LobbyingActivities>
      <SubjectToProxyTax>false</SubjectToProxyTax>
      <DonorAdvisedFunds referenceDocumentId="IRS990ScheduleD">false</DonorAdvisedFunds>
      <ConservationEasements referenceDocumentId="IRS990ScheduleD">false</ConservationEasements>
      <CollectionsOfArt referenceDocumentId="IRS990ScheduleD">false</CollectionsOfArt>
      <CreditCounseling referenceDocumentId="IRS990ScheduleD">false</CreditCounseling>
      <TermOrPermanentEndowments referenceDocumentId="IRS990ScheduleD">false</TermOrPermanentEndowments>
      <ReportLandBldgEquip referenceDocumentId="IRS990ScheduleD">true</ReportLandBldgEquip>
      <ReportInvestOthSecurities referenceDocumentId="IRS990ScheduleD">false</ReportInvestOthSecurities>
      <ReportProgRelInvest referenceDocumentId="IRS990ScheduleD">false</ReportProgRelInvest>
      <ReportOtherAssets referenceDocumentId="IRS990ScheduleD">false</ReportOtherAssets>
      <ReportOtherLiabilities referenceDocumentId="IRS990ScheduleD">true</ReportOtherLiabilities>
      <ReportFin48Footnote referenceDocumentId="IRS990ScheduleD">false</ReportFin48Footnote>
      <IndependentAuditFinancialStmt referenceDocumentId="IRS990ScheduleD">false</IndependentAuditFinancialStmt>
      <ConsolidatedAuditFinancialStmt referenceDocumentId="IRS990ScheduleD">true</ConsolidatedAuditFinancialStmt>
      <School referenceDocumentId="IRS990ScheduleE">true</School>
      <ForeignOffice>false</ForeignOffice>
      <ForeignActivities>false</ForeignActivities>
      <MoreThan5000KToOrganizations>false</MoreThan5000KToOrganizations>
      <MoreThan5000KToIndividuals>false</MoreThan5000KToIndividuals>
      <ProfessionalFundraising>false</ProfessionalFundraising>
      <FundraisingActivities>false</FundraisingActivities>
      <Gaming>false</Gaming>
      <Hospital>false</Hospital>
      <GrantsToOrganizations>false</GrantsToOrganizations>
      <GrantsToIndividuals>false</GrantsToIndividuals>
      <ScheduleJRequired>false</ScheduleJRequired>
      <TaxExemptBonds referenceDocumentId="IRS990ScheduleK.1">true</TaxExemptBonds>
      <InvestTaxExemptBonds>false</InvestTaxExemptBonds>
      <EscrowAccount>false</EscrowAccount>
      <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
      <ExcessBenefitTransaction>false</ExcessBenefitTransaction>
      <PriorExcessBenefitTransaction>false</PriorExcessBenefitTransaction>
      <LoanToOfficerOrDQP>false</LoanToOfficerOrDQP>
      <GrantToRelatedPerson>false</GrantToRelatedPerson>
      <BsnssRltnshpWithOrganization>false</BsnssRltnshpWithOrganization>
      <BsnssRltnshpThruFamilyMember>false</BsnssRltnshpThruFamilyMember>
      <OfficerEntityWithBsnssRltnshp>false</OfficerEntityWithBsnssRltnshp>
      <DeductibleNonCashContributions>false</DeductibleNonCashContributions>
      <DeductibleContributionsOfArt>false</DeductibleContributionsOfArt>
      <Terminated>false</Terminated>
      <PartialLiquidation>false</PartialLiquidation>
      <DisregardedEntity>false</DisregardedEntity>
      <RelatedEntity>false</RelatedEntity>
      <RelatedOrgControlledEntity>false</RelatedOrgControlledEntity>
      <TransactionRelatedEntity>false</TransactionRelatedEntity>
      <TransfersToExemptNonChrtblOrg>false</TransfersToExemptNonChrtblOrg>
      <ActivitiesConductedPartnership>false</ActivitiesConductedPartnership>
      <ScheduleORequired>true</ScheduleORequired>
      <NumberFormsTransmittedWith1096>53</NumberFormsTransmittedWith1096>
      <NumberW2GIncluded>0</NumberW2GIncluded>
      <ComplianceWithBackupWitholding>false</ComplianceWithBackupWitholding>
      <NumberOfEmployees>224</NumberOfEmployees>
      <EmploymentTaxReturnsFiled>true</EmploymentTaxReturnsFiled>
      <UnrelatedBusinessIncome>false</UnrelatedBusinessIncome>
      <Form990-TFiled>false</Form990-TFiled>
      <ForeignFinancialAccount>false</ForeignFinancialAccount>
      <ProhibitedTaxShelterTrans>false</ProhibitedTaxShelterTrans>
      <TaxablePartyNotification>false</TaxablePartyNotification>
      <Form8886TFiled>false</Form8886TFiled>
      <NonDeductibleContributions>false</NonDeductibleContributions>
      <NonDeductibleDisclosure>false</NonDeductibleDisclosure>
      <QuidProQuoContributions>false</QuidProQuoContributions>
      <QuidProQuoDisclosure>false</QuidProQuoDisclosure>
      <Form8282PropertyDisposedOf>false</Form8282PropertyDisposedOf>
      <NumberOf8282Filed>0</NumberOf8282Filed>
      <FundsToPayPremiums>false</FundsToPayPremiums>
      <PremiumsPaid>false</PremiumsPaid>
      <Form8899Filed>false</Form8899Filed>
      <Form1098CFiled>false</Form1098CFiled>
      <ExcessBusinessHoldings>false</ExcessBusinessHoldings>
      <TaxableDistributions>false</TaxableDistributions>
      <DistributionToDonor>false</DistributionToDonor>
      <FiledLieu1041>false</FiledLieu1041>
      <LicensedMoreThanOneState>false</LicensedMoreThanOneState>
      <IndoorTanningServices>false</IndoorTanningServices>
      <Form720Filed>false</Form720Filed>
      <InfoInScheduleOPartVI>X</InfoInScheduleOPartVI>
      <NbrVotingGoverningBodyMembers>4</NbrVotingGoverningBodyMembers>
      <NumberIndependentVotingMembers>4</NumberIndependentVotingMembers>
      <FamilyOrBusinessRelationship>false</FamilyOrBusinessRelationship>
      <DelegationOfManagementDuties>false</DelegationOfManagementDuties>
      <ChangesToOrganizingDocs>false</ChangesToOrganizingDocs>
      <MaterialDiversionOrMisuse>false</MaterialDiversionOrMisuse>
      <MembersOrStockholders>false</MembersOrStockholders>
      <ElectionOfBoardMembers>false</ElectionOfBoardMembers>
      <DecisionsSubjectToApproval>false</DecisionsSubjectToApproval>
      <MinutesOfGoverningBody>true</MinutesOfGoverningBody>
      <MinutesOfCommittees>false</MinutesOfCommittees>
      <OfficerMailingAddress>false</OfficerMailingAddress>
      <LocalChapters>true</LocalChapters>
      <PoliciesReferenceChapters>true</PoliciesReferenceChapters>
      <Form990ProvidedToGoverningBody>true</Form990ProvidedToGoverningBody>
      <ConflictOfInterestPolicy>true</ConflictOfInterestPolicy>
      <AnnualDisclosureCoveredPersons>true</AnnualDisclosureCoveredPersons>
      <RegularMonitoringEnforcement>true</RegularMonitoringEnforcement>
      <WhistleblowerPolicy>true</WhistleblowerPolicy>
      <DocumentRetentionPolicy>true</DocumentRetentionPolicy>
      <CompensationProcessCEO>true</CompensationProcessCEO>
      <CompensationProcessOther>true</CompensationProcessOther>
      <InvestmentInJointVenture>false</InvestmentInJointVenture>
      <WrittenPolicyOrProcedure>false</WrittenPolicyOrProcedure>
      <UponRequest>X</UponRequest>
      <TheBooksAreInCareOf>
        <NamePerson>COSMOS FOUNDATION INC</NamePerson>
        <TelephoneNumber>7133433333</TelephoneNumber>
        <AddressUS>
          <AddressLine1>9431 W SAM HOUSTON PKWY S</AddressLine1>
          <City>HOUSTON</City>
          <State>TX</State>
          <ZIPCode>77099</ZIPCode>
        </AddressUS>
      </TheBooksAreInCareOf>
      <Form990PartVIISectionA>
        <NamePerson>ROLAND CAMPOS</NamePerson>
        <Title>BOARD MEMBER</Title>
        <AverageHoursPerWeek>5.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>SULEYMAN TEK</NamePerson>
        <Title>Treasurer</Title>
        <AverageHoursPerWeek>5.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>TURGAY KILIC</NamePerson>
        <Title>Secretary</Title>
        <AverageHoursPerWeek>5.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>CHRISTOPHER JOHN GIESEKE</NamePerson>
        <Title>Vice President</Title>
        <AverageHoursPerWeek>5.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>DR TURGAY KORKMAZ</NamePerson>
        <Title>President</Title>
        <AverageHoursPerWeek>5.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>MEHMET BAYAR</NamePerson>
        <Title>SUPERINTENDENT</Title>
        <AverageHoursPerWeek>40.00</AverageHoursPerWeek>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>78992</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>KAMIL YILMAZ</NamePerson>
        <Title>SUPERINTENDENT</Title>
        <AverageHoursPerWeek>40.00</AverageHoursPerWeek>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>42903</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <TotalReportableCompFromOrg>121895</TotalReportableCompFromOrg>
      <NumberIndividualsGT100K>0</NumberIndividualsGT100K>
      <FormersListed>false</FormersListed>
      <TotalCompGT150K>false</TotalCompGT150K>
      <CompensationFromOtherSources>false</CompensationFromOtherSources>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>TULIP CLEANING LLC</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>5407 BANDERA ROAD 111</AddressLine1>
            <City>LEON VALLEY</City>
            <State>TX</State>
            <ZIPCode>78238</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>CLEANING SERVICES</DescriptionOfServices>
        <Compensation>306536</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>TC II LAND LP CO CROSS COMPANY</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>2013 BROADWAY</AddressLine1>
            <City>SAN ANTONIO</City>
            <State>TX</State>
            <ZIPCode>78215</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>RENT</DescriptionOfServices>
        <Compensation>230142</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>SARATOGA VILLAGE PARTNERS LLC</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>3616 AGNES STREET</AddressLine1>
            <City>CORPUS CHRISTI</City>
            <State>TX</State>
            <ZIPCode>78405</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>RENT</DescriptionOfServices>
        <Compensation>920970</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>DNR CATERING INC</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>3720 NW LOOP 410</AddressLine1>
            <City>SAN ANTONIO</City>
            <State>TX</State>
            <ZIPCode>78229</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>CATERING SERVICE</DescriptionOfServices>
        <Compensation>472544</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>ABNET REALTY COMPANY</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>PO BOX 5133 GPO</AddressLine1>
            <City>NEW YORK</City>
            <State>NY</State>
            <ZIPCode>10087</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>RENT</DescriptionOfServices>
        <Compensation>292391</Compensation>
      </ContractorCompensation>
      <NumberOfContractorsGT100K>5</NumberOfContractorsGT100K>
      <GovernmentGrants>13419685</GovernmentGrants>
      <TotalContributions>13419685</TotalContributions>
      <ProgramServiceRevenue>
        <Description>STUDENT ACTIVITY INCOME</Description>
        <TotalRevenueColumn>825618</TotalRevenueColumn>
        <ExclusionAmount>825618</ExclusionAmount>
      </ProgramServiceRevenue>
      <TotalProgramServiceRevenue>825618</TotalProgramServiceRevenue>
      <InvestmentIncome>
        <TotalRevenueColumn>92</TotalRevenueColumn>
        <ExclusionAmount>92</ExclusionAmount>
      </InvestmentIncome>
      <IncomeFromInvestBondProceeds>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </IncomeFromInvestBondProceeds>
      <RoyaltiesRevenue>
        <TotalRevenueColumn>0</TotalRevenueColumn>
      </RoyaltiesRevenue>
      <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>
      <TotalOtherRevenue>0</TotalOtherRevenue>
      <TotalRevenue>
        <TotalRevenueColumn>14245395</TotalRevenueColumn>
        <ExclusionAmount>825710</ExclusionAmount>
      </TotalRevenue>
      <GrantsToDomesticOrgs>
        <Total>0</Total>
      </GrantsToDomesticOrgs>
      <GrantsToDomesticIndividuals>
        <Total>0</Total>
      </GrantsToDomesticIndividuals>
      <ForeignGrants>
        <Total>0</Total>
      </ForeignGrants>
      <BenefitsToMembers>
        <Total>0</Total>
      </BenefitsToMembers>
      <CompCurrentOfficersDirectors>
        <Total>121895</Total>
        <ProgramServices>121895</ProgramServices>
      </CompCurrentOfficersDirectors>
      <CompDisqualPersons>
        <Total>0</Total>
      </CompDisqualPersons>
      <OtherSalariesAndWages>
        <Total>5939709</Total>
        <ProgramServices>5939709</ProgramServices>
      </OtherSalariesAndWages>
      <PensionPlanContributions>
        <Total>0</Total>
      </PensionPlanContributions>
      <OtherEmployeeBenefits>
        <Total>872096</Total>
        <ProgramServices>872096</ProgramServices>
      </OtherEmployeeBenefits>
      <PayrollTaxes>
        <Total>123160</Total>
        <ProgramServices>123160</ProgramServices>
      </PayrollTaxes>
      <FeesForServicesManagement>
        <Total>0</Total>
      </FeesForServicesManagement>
      <FeesForServicesLegal>
        <Total>0</Total>
      </FeesForServicesLegal>
      <FeesForServicesAccounting>
        <Total>0</Total>
      </FeesForServicesAccounting>
      <FeesForServicesLobbying>
        <Total>0</Total>
      </FeesForServicesLobbying>
      <FeesForServicesProfFundraising>
        <Total>0</Total>
      </FeesForServicesProfFundraising>
      <FeesForServicesInvstMgmntFees>
        <Total>0</Total>
      </FeesForServicesInvstMgmntFees>
      <FeesForServicesOther>
        <Total>2168126</Total>
        <ProgramServices>2168126</ProgramServices>
      </FeesForServicesOther>
      <Advertising>
        <Total>0</Total>
      </Advertising>
      <OfficeExpenses>
        <Total>0</Total>
      </OfficeExpenses>
      <InformationTechnology>
        <Total>0</Total>
      </InformationTechnology>
      <Royalties>
        <Total>0</Total>
      </Royalties>
      <Occupancy>
        <Total>1502009</Total>
        <ProgramServices>1502009</ProgramServices>
      </Occupancy>
      <Travel>
        <Total>104474</Total>
        <ProgramServices>104474</ProgramServices>
      </Travel>
      <TravelEntrtnmntPublicOfficials>
        <Total>0</Total>
      </TravelEntrtnmntPublicOfficials>
      <ConferencesMeetings>
        <Total>0</Total>
      </ConferencesMeetings>
      <Interest>
        <Total>443918</Total>
        <ProgramServices>443918</ProgramServices>
      </Interest>
      <PaymentsToAffiliates>
        <Total>0</Total>
      </PaymentsToAffiliates>
      <DepreciationDepletion>
        <Total>678717</Total>
        <ProgramServices>678717</ProgramServices>
      </DepreciationDepletion>
      <Insurance>
        <Total>43607</Total>
        <ProgramServices>43607</ProgramServices>
      </Insurance>
      <OtherExpenses>
        <Description>UTILITIES</Description>
        <Total>255546</Total>
        <ProgramServices>255546</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>REPAIRS</Description>
        <Total>282215</Total>
        <ProgramServices>282215</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>MISCELLANEOUS OPER COSTS</Description>
        <Total>317600</Total>
        <ProgramServices>317600</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>SUPPLIES</Description>
        <Total>955210</Total>
        <ProgramServices>955210</ProgramServices>
      </OtherExpenses>
      <AllOtherExpenses>
        <Total>221610</Total>
        <ProgramServices>221610</ProgramServices>
      </AllOtherExpenses>
      <TotalFunctionalExpenses>
        <Total>14029892</Total>
        <ProgramServices>14029892</ProgramServices>
        <ManagementAndGeneral>0</ManagementAndGeneral>
        <Fundraising>0</Fundraising>
      </TotalFunctionalExpenses>
      <CashNonInterestBearing>
        <BOY>879322</BOY>
        <EOY>1702980</EOY>
      </CashNonInterestBearing>
      <SavingsAndTempCashInvestments>
        <EOY>0</EOY>
      </SavingsAndTempCashInvestments>
      <PledgesAndGrantsReceivable>
        <BOY>771563</BOY>
        <EOY>560953</EOY>
      </PledgesAndGrantsReceivable>
      <AccountsReceivable>
        <EOY>0</EOY>
      </AccountsReceivable>
      <ReceivablesFromOfficersEtc>
        <EOY>0</EOY>
      </ReceivablesFromOfficersEtc>
      <ReceivablesFromDisqualPersons>
        <EOY>0</EOY>
      </ReceivablesFromDisqualPersons>
      <OtherNotesLoansReceivableNet>
        <EOY>0</EOY>
      </OtherNotesLoansReceivableNet>
      <InventoriesForSaleOrUse>
        <EOY>0</EOY>
      </InventoriesForSaleOrUse>
      <PrepaidExpensesDeferredCharges>
        <EOY>0</EOY>
      </PrepaidExpensesDeferredCharges>
      <LandBuildingsEquipmentBasis>10758567</LandBuildingsEquipmentBasis>
      <LandBldgEquipmentAccumDeprec>2377952</LandBldgEquipmentAccumDeprec>
      <LandBuildingsEquipmentBasisNet>
        <BOY>8952902</BOY>
        <EOY>8380615</EOY>
      </LandBuildingsEquipmentBasisNet>
      <InvestmentsPubTradedSecurities>
        <EOY>0</EOY>
      </InvestmentsPubTradedSecurities>
      <InvestmentsOtherSecurities>
        <EOY>0</EOY>
      </InvestmentsOtherSecurities>
      <InvestmentsProgramRelated>
        <EOY>0</EOY>
      </InvestmentsProgramRelated>
      <IntangibleAssets>
        <EOY>0</EOY>
      </IntangibleAssets>
      <OtherAssetsTotal>
        <BOY>269201</BOY>
        <EOY>196621</EOY>
      </OtherAssetsTotal>
      <TotalAssets>
        <BOY>10872988</BOY>
        <EOY>10841169</EOY>
      </TotalAssets>
      <AccountsPayableAccruedExpenses>
        <BOY>54673</BOY>
        <EOY>240970</EOY>
      </AccountsPayableAccruedExpenses>
      <TaxExemptBondLiabilities>
        <BOY>6480000</BOY>
        <EOY>6446885</EOY>
      </TaxExemptBondLiabilities>
      <MortNotesPyblSecuredInvestProp>
        <BOY>2103127</BOY>
        <EOY>1660190</EOY>
      </MortNotesPyblSecuredInvestProp>
      <OtherLiabilities>
        <BOY>214777</BOY>
        <EOY>257210</EOY>
      </OtherLiabilities>
      <TotalLiabilities>
        <BOY>8852577</BOY>
        <EOY>8605255</EOY>
      </TotalLiabilities>
      <FollowSFAS117>X</FollowSFAS117>
      <UnrestrictedNetAssets>
        <BOY>1088216</BOY>
        <EOY>1146941</EOY>
      </UnrestrictedNetAssets>
      <TemporarilyRestrictedNetAssets>
        <BOY>932195</BOY>
        <EOY>1088973</EOY>
      </TemporarilyRestrictedNetAssets>
      <TotalNetAssetsFundBalances>
        <BOY>2020411</BOY>
        <EOY>2235914</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>10872988</BOY>
        <EOY>10841169</EOY>
      </TotalLiabNetAssetsFundBalances>
      <ReconcilationRevenueExpenses>215503</ReconcilationRevenueExpenses>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>true</FSAudited>
      <AuditCommittee>false</AuditCommittee>
      <FinancialStatementConsolidated>X</FinancialStatementConsolidated>
      <FederalGrantAuditRequired>true</FederalGrantAuditRequired>
      <FederalGrantAuditPerformed>false</FederalGrantAuditPerformed>
    </IRS990>
    <IRS990ScheduleA documentId="IRS990ScheduleA" softwareId="11000144" softwareVersion="2011v1.5">
      <School170b1Aii>X</School170b1Aii>
    </IRS990ScheduleA>
    <IRS990ScheduleD documentId="IRS990ScheduleD" softwareId="11000144" softwareVersion="2011v1.5">
      <Land>
        <OtherCostOrOtherBasis>864700</OtherCostOrOtherBasis>
        <BookValue>864700</BookValue>
      </Land>
      <Buildings>
        <OtherCostOrOtherBasis>9645040</OtherCostOrOtherBasis>
        <Depreciation>2215373</Depreciation>
        <BookValue>7429667</BookValue>
      </Buildings>
      <Equipment>
        <OtherCostOrOtherBasis>189301</OtherCostOrOtherBasis>
        <Depreciation>106639</Depreciation>
        <BookValue>82662</BookValue>
      </Equipment>
      <OtherLandBuildings>
        <OtherCostOrOtherBasis>59526</OtherCostOrOtherBasis>
        <Depreciation>55940</Depreciation>
        <BookValue>3586</BookValue>
      </OtherLandBuildings>
      <TotalOfBookValueLandBuildings>8380615</TotalOfBookValueLandBuildings>
      <OtherLiabilities>
        <Description>OTHER LIABILITIES</Description>
        <Amount>242495</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>INTEREST PAYABLE</Description>
        <Amount>14715</Amount>
      </OtherLiabilities>
      <TotalOfAmounts>257210</TotalOfAmounts>
      <TotalRevenue>14245395</TotalRevenue>
      <TotalExpenses>14029892</TotalExpenses>
      <ExcessOrDeficitForYear>215503</ExcessOrDeficitForYear>
      <ExcessOrDeficitPerFS>215503</ExcessOrDeficitPerFS>
      <TotRevenueEtcAuditedFinclStmt>14245395</TotRevenueEtcAuditedFinclStmt>
      <RevenueSubtotal>14245395</RevenueSubtotal>
      <TotalRevenuePerForm990>14245395</TotalRevenuePerForm990>
      <TotExpensesEtcAuditedFinclStmt>14029892</TotExpensesEtcAuditedFinclStmt>
      <ExpensesSubtotal>14029892</ExpensesSubtotal>
      <TotalExpensesPerForm990>14029892</TotalExpensesPerForm990>
    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="IRS990ScheduleE" softwareId="11000144" softwareVersion="2011v1.5">
      <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 - Racially Nondiscriminatory Policy Publicized</Identifier>
        <Explanation>ONLINE AND PAPER COPIES OF THE ADMISSION APPLICATION FOR ALL CAMPUSES HAVE A NONDISCRIMINATORY STATEMENT INCLUDED. SCHOOL BROCHURES WHICH ARE INCLUDED WITH ADMISSION APPLICATIONS AND INVITATION DOCUMENTS SENT TO OTHER SCHOOL DISTRICTS ALSO INCLUDE A NONDISCRIMINATORY POLICY.</Explanation>
      </Form990ScheduleEPartII>
    </IRS990ScheduleE>
    <IRS990ScheduleK documentId="IRS990ScheduleK.1" softwareId="11000144" softwareVersion="2011v1.5">
      <Form990ScheduleKPartI>
        <IssuerName>
          <BusinessNameLine1>LA VERNIA HIGHER EDUCATION FINANCE CORPORATION</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>061802520</IssuerEIN>
        <DateIssued>2007-05-17</DateIssued>
        <IssuePrice>6480000</IssuePrice>
        <DescriptionOfPurpose>TO ACQUIRE LAND AND MAKE IMPROVEMENTS TO FACILITIES</DescriptionOfPurpose>
        <Defeased>false</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
      </Form990ScheduleKPartI>
      <FedTaxRequirementsCompliance>X</FedTaxRequirementsCompliance>
    </IRS990ScheduleK>
    <IRS990ScheduleO documentId="IRS990ScheduleO" softwareId="11000144" softwareVersion="2011v1.5">
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 19</Identifier>
        <ReturnReference>Form 990, Part VI, Line 19: Other Organization Documents Publicly Available</ReturnReference>
        <Explanation>WRITTEN REQUESTS FOR INFORMATION MAY BE SUBMITTED TO THE PRINCIPAL ADDRESS INDICATED ON FORM 990.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 15b</Identifier>
        <ReturnReference>Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees</ReturnReference>
        <Explanation>COMPENSATION IS REVIEWED ANNUALLY AND ADJUSTED IN ACCORDANCE WITH SALARY SCALE.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 12c</Identifier>
        <ReturnReference>Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts</ReturnReference>
        <Explanation>ALL MEMBERS OF THE ORGANIZATION ARE REQUIRED TO DISCLOSE CONFLICTS OF INTEREST AS THEY ARISE. RELATIONSHIPS WITH THIRD PARTIES ARE REVIEWED ANNUALLY.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 11</Identifier>
        <ReturnReference>Form 990, Part VI, Line 11: Form 990 Review Process</ReturnReference>
        <Explanation>FORM 990 IS REVIEWED BY MANAGEMENT AND APPROVED BEFORE IT IS FILED.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>