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        <BusinessNameLine1>ASSE INTERNATIONAL INC</BusinessNameLine1>
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      <Phone>9494944100</Phone>
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        <AddressLine1>228 NORTH COAST HIGHWAY</AddressLine1>
        <City>LAGUNA BEACH</City>
        <State>CA</State>
        <ZIPCode>92651</ZIPCode>
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      <Name>DIANE MATHUNY</Name>
      <Title>CHIEF FINANCIAL OFFICER</Title>
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      <YearFormation>1976</YearFormation>
      <StateLegalDomicile>CA</StateLegalDomicile>
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        <Revenue>1968530</Revenue>
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        <TelephoneNumber>9494944100</TelephoneNumber>
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          <State>CA</State>
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      <Advertising>
        <Total>76440</Total>
        <ProgramServices>76440</ProgramServices>
      </Advertising>
      <OfficeExpenses>
        <Total>265600</Total>
        <ProgramServices>243230</ProgramServices>
        <ManagementAndGeneral>22370</ManagementAndGeneral>
      </OfficeExpenses>
      <InformationTechnology>
        <Total>117040</Total>
        <ProgramServices>106840</ProgramServices>
        <ManagementAndGeneral>10200</ManagementAndGeneral>
      </InformationTechnology>
      <Occupancy>
        <Total>396650</Total>
        <ProgramServices>384440</ProgramServices>
        <ManagementAndGeneral>12210</ManagementAndGeneral>
      </Occupancy>
      <Travel>
        <Total>499560</Total>
        <ProgramServices>459360</ProgramServices>
        <ManagementAndGeneral>40200</ManagementAndGeneral>
      </Travel>
      <ConferencesMeetings>
        <Total>464600</Total>
        <ProgramServices>385350</ProgramServices>
        <ManagementAndGeneral>79250</ManagementAndGeneral>
      </ConferencesMeetings>
      <DepreciationDepletion>
        <Total>3210</Total>
        <ManagementAndGeneral>3210</ManagementAndGeneral>
      </DepreciationDepletion>
      <Insurance>
        <Total>686900</Total>
        <ProgramServices>633450</ProgramServices>
        <ManagementAndGeneral>53450</ManagementAndGeneral>
      </Insurance>
      <OtherExpenses>
        <Description>TUITION, PROGRAM FEES &amp; S</Description>
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        <ProgramServices>3233920</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>AREA REPRESENTATIVES</Description>
        <Total>1302520</Total>
        <ProgramServices>1302520</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>HOST FAMILY RECRUITING &amp;</Description>
        <Total>670060</Total>
        <ProgramServices>670060</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>GRANT COSTS</Description>
        <Total>548570</Total>
        <ProgramServices>548570</ProgramServices>
      </OtherExpenses>
      <AllOtherExpenses>
        <Total>101300</Total>
        <ProgramServices>74840</ProgramServices>
        <ManagementAndGeneral>26460</ManagementAndGeneral>
      </AllOtherExpenses>
      <TotalFunctionalExpenses>
        <Total>13061870</Total>
        <ProgramServices>11816730</ProgramServices>
        <ManagementAndGeneral>1245140</ManagementAndGeneral>
        <Fundraising>0</Fundraising>
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      <CashNonInterestBearing>
        <BOY>-84980</BOY>
        <EOY>272110</EOY>
      </CashNonInterestBearing>
      <SavingsAndTempCashInvestments>
        <BOY>6897180</BOY>
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      </SavingsAndTempCashInvestments>
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        <EOY>736820</EOY>
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      <LandBuildingsEquipmentBasis>54100</LandBuildingsEquipmentBasis>
      <LandBldgEquipmentAccumDeprec>49420</LandBldgEquipmentAccumDeprec>
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        <EOY>4680</EOY>
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        <BOY>8547420</BOY>
        <EOY>11082790</EOY>
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      <AccountsPayableAccruedExpenses>
        <BOY>5127600</BOY>
        <EOY>7265720</EOY>
      </AccountsPayableAccruedExpenses>
      <DeferredRevenue>
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        <EOY>31020</EOY>
      </DeferredRevenue>
      <OtherLiabilities>
        <BOY>214310</BOY>
        <EOY>186940</EOY>
      </OtherLiabilities>
      <TotalLiabilities>
        <BOY>5347710</BOY>
        <EOY>7483680</EOY>
      </TotalLiabilities>
      <FollowSFAS117>X</FollowSFAS117>
      <UnrestrictedNetAssets>
        <BOY>3199710</BOY>
        <EOY>3599110</EOY>
      </UnrestrictedNetAssets>
      <TotalNetAssetsFundBalances>
        <BOY>3199710</BOY>
        <EOY>3599110</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
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        <EOY>11082790</EOY>
      </TotalLiabNetAssetsFundBalances>
      <ReconcilationRevenueExpenses>399400</ReconcilationRevenueExpenses>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>true</FSAudited>
      <AuditCommittee>true</AuditCommittee>
      <FinancialStatementConsolidated>X</FinancialStatementConsolidated>
      <FederalGrantAuditRequired>true</FederalGrantAuditRequired>
      <FederalGrantAuditPerformed>true</FederalGrantAuditPerformed>
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        <CurrentTaxYearMinus2Years>2042900</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>2203660</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>2485630</CurrentTaxYear>
        <Total>10426810</Total>
      </GiftsGrantsContribReceived509>
      <GrossReceiptsFromAdmissions>
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        <CurrentTaxYearMinus3Years>6543530</CurrentTaxYearMinus3Years>
        <CurrentTaxYearMinus2Years>8020610</CurrentTaxYearMinus2Years>
        <CurrentTaxYearMinus1Year>9550990</CurrentTaxYearMinus1Year>
        <CurrentTaxYear>10956050</CurrentTaxYear>
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      <Total509>
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        <CurrentTaxYearMinus1Year>11754650</CurrentTaxYearMinus1Year>
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        <CurrentTaxYear>19590</CurrentTaxYear>
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        <CurrentTaxYear>19590</CurrentTaxYear>
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          <City>RESTRICTED</City>
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        <AggregateContributions>RESTRICTED</AggregateContributions>
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      <AgentTrusteeEtc>false</AgentTrusteeEtc>
      <IncludedOnFS>false</IncludedOnFS>
      <EndowmentsHeldByUnrelatedOrgs>false</EndowmentsHeldByUnrelatedOrgs>
      <EndowmentsHeldByRelatedOrgs>false</EndowmentsHeldByRelatedOrgs>
      <AreRelatedOrgsListedScheduleR>false</AreRelatedOrgsListedScheduleR>
      <Equipment>
        <OtherCostOrOtherBasis>54100</OtherCostOrOtherBasis>
        <Depreciation>49420</Depreciation>
        <BookValue>4680</BookValue>
      </Equipment>
      <TotalOfBookValueLandBuildings>4680</TotalOfBookValueLandBuildings>
      <OtherLiabilities>
        <Description>ACCRUED PENSION PLAN OBLIGATION</Description>
        <Amount>186940</Amount>
      </OtherLiabilities>
      <TotalOfAmounts>186940</TotalOfAmounts>
      <TotalRevenue>13461270</TotalRevenue>
      <TotalExpenses>13061870</TotalExpenses>
      <ExcessOrDeficitForYear>399400</ExcessOrDeficitForYear>
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      <TotalRevenuePerForm990>13461270</TotalRevenuePerForm990>
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        <TypeOfActivitiesConducted>PROGRAM SERVICES</TypeOfActivitiesConducted>
        <SpecificServicesProvided>HIGH SCHOOL EXCHANGE</SpecificServicesProvided>
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      <AcctsActvsOutUSTable>
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        <NumberOfEmployees>1</NumberOfEmployees>
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      <TotalNumberOfOffices>2</TotalNumberOfOffices>
      <TotalNumberOfEmployees>3</TotalNumberOfEmployees>
      <SubtotalAmountSpent>371090</SubtotalAmountSpent>
      <TotalAmountSpent>371090</TotalAmountSpent>
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    <IRS990ScheduleI documentId="RetDoc8">
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        </RecipientNameBusiness>
        <AddressUS>
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          <State>CA</State>
          <ZIPCode>92651</ZIPCode>
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        <MethodOfValuation>CASH</MethodOfValuation>
        <PurposeOfGrant>INTERNAT'L EXCHANGE</PurposeOfGrant>
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      <TotalNbrOf501C3AndGovtGrants>1</TotalNbrOf501C3AndGovtGrants>
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        <TypeOfGrant>HIGH SCHOOL EXCHANGE PROG</TypeOfGrant>
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        <AmountOfCashGrant>35100</AmountOfCashGrant>
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        <Identifier>ADDITIONAL INFORMATION</Identifier>
        <ReturnReference>SCHEDULE I, PAGE 4, PART IV</ReturnReference>
        <Explanation>PART II. ASSE INTERNATIONAL, INC. MONITORS THE USE OF GRANT FUNDS TO EURAUPAIR INTERNATIONAL, INC. THROUGH DETAILED REVIEW OF EURAUPAIR FINANCIAL RECORDS AND DISCUSSIONS WITH MANAGEMENT. PART III. ASSE INTERNATIONAL, INC. MONITORS THE USE OF GRANT FUNDS TO INDIVIDUALS IN THE UNITED STATES BY APPLYING THE GRANT FUNDS (SCHOLARSHIPS) DIRECTLY TO THE PROGRAM FEE THAT WOULD NORMALLY BE PAID BY AN OUTBOUND HIGH SCHOOL EXCHANGE STUDENT. THE GRANT/SCHOLARSHIP RECIPIENT PAYS A LOWER PROGRAM FEE. WHEN AIRFARE IS INCLUDED IN THE SCHOLARSHIP, THE AIRFARE AMOUNT IS PAID DIRECTLY TO THE AIRLINE OR TRAVEL AGENT. WHEN POCKET MONEY IS INCLUDED IN THE SCHOLARSHIP, ASSE TRANSFERS THE FUNDS TO ITS PARTNER AGENT IN THE COUNTRY WHERE THE STUDENT WILL BE PARTICIPATING IN THE EXCHANGE PROGRAM AND THE FUNDS ARE PROVIDED TO THE STUDENT ON A MONTHLY BASIS IN THAT COUNTRY'S CURRENCY.</Explanation>
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        <TotalCompensationRelatedOrgs>91550</TotalCompensationRelatedOrgs>
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          <NamePerson>ASPIRE WORLDWIDE LLC</NamePerson>
        </NameOfInterestedPerson>
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        <AmountOfTransaction>1968530</AmountOfTransaction>
        <DescriptionOfTransaction>ASPIRE MARKETS AND</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <Relationship>THAN 35% OWNED</Relationship>
        <DescriptionOfTransaction>RECRUITS STUDENTS</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <Relationship>BY FEI JIANG</Relationship>
        <DescriptionOfTransaction>FOR ASSE WORK AND</DescriptionOfTransaction>
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      <Form990ScheduleLPartIV>
        <SharingOfRevenues>false</SharingOfRevenues>
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        <DescriptionOfTransaction>PIE MARKETS AND</DescriptionOfTransaction>
        <SharingOfRevenues>false</SharingOfRevenues>
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          <NamePerson>PIE</NamePerson>
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        <Relationship>SPOUSE OF PIE</Relationship>
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        <SharingOfRevenues>false</SharingOfRevenues>
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        <Identifier>AMENDED RETURN EXPLANATION</Identifier>
        <ReturnReference>FORM 990, PAGE 1, ITEM B</ReturnReference>
        <Explanation>INCLUDE MISSING AUDITED FINANCIAL STATEMENT ATTACHMENT.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>ORGANIZATION'S MISSION</Identifier>
        <ReturnReference>FORM 990 - ORGANIZATION'S MISSION</ReturnReference>
        <Explanation>PART I, LINE 1 - ASSE PROGRAMS PROMOTE INTERNATIONAL EDUCATIONAL AND CULTURAL EXCHANGE BY PROVIDING OPPORTUNITIES FOR HIGH SCHOOL STUDENTS, UNIVERSITY STUDENTS, AND YOUNG ADULTS TO SPEND SEVERAL MONTHS LIVING IN ANOTHER COUNTRY AND LEARNING THE LANGUAGE AND CULTURE OF THE HOST FAMILY OR HOST EMPLOYER. PART III, LINE 1 - "ENGAGE IN CHARITABLE AND EDUCATIONAL ACTIVITIES WITHIN THE MEANING OF SECTION 501(C)(3)THAT CONTRIBUTE TO INTERNATIONAL UNDERSTANDING BY PROVIDING YOUNG PEOPLE FROM VARIOUS COUNTRIES WITH THE OPPORTUNITY TO IMPROVE THEIR KNOWLEDGE OF FOREIGN CULTURES AND LANGUAGES THROUGH ACTIVE PARTICIPATION IN FAMILY, SCHOOL AND COMMUNITY LIFE IN COUNTRIES OR REGIONS THAN THEIR OWN."</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>FINANCIAL ACCOUNTS IN FOREIGN COUNTRIES</Identifier>
        <ReturnReference>FORM 990, PART V, LINE 4B</ReturnReference>
        <Explanation>CANADA, NEW ZEALAND</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>OFFICERS WHO CANNOT BE REACHED</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 9</ReturnReference>
        <Explanation>WILLIAM NEWTON FRANCISCO DE RICCI 11-O IZDA MADRID, SP 28015 SUSAN NOWAKOWSKI-BACHELOT ROUTE DES ROUDIERS EYGUIERES, FR 13430 ANN-KATRIN LINDGREN 26041 ACERO MISSION VIEJO, CA 92691 PATRICIA HASSELBLAD 8395 KEYSTONE CROSSING, SUITE 206 INDIANAPOLIS, IN 46240 MICHELLE SCHULMAN 728 FOREST PARK ROAD GREAT FALLS, VA 22066</Explanation>
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      <GeneralExplanation>
        <Identifier>ORGANIZATION'S PROCESS USED TO REVIEW FORM 990</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 11B</ReturnReference>
        <Explanation>THE FORM 990 IS PREPARED BY THE CHIEF FINANCIAL OFFICER AND REVIEWED BY THE PRESIDENT AND CEO.</Explanation>
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      <GeneralExplanation>
        <Identifier>ENFORCEMENT OF CONFLICTS POLICY</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 12C</ReturnReference>
        <Explanation>OFFICERS AND DIRECTORS DISCLOSE CONFLICTS OF INTEREST AT THE ANNUAL BOARD OF DIRECTORS MEETING. ONGOING CONFLICTS OF INTEREST ARE APPROVED BY THE BOARD OF DIRECTORS AT THE START OF EACH FISCAL YEAR.</Explanation>
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      <GeneralExplanation>
        <Identifier>GOVERNING DOCUMENTS DISCLOSURE EXPLANATION</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 19</ReturnReference>
        <Explanation>THE FORM 990 IS MADE AVAILABLE TO THE PUBLIC IN COMPLIANCE WITH THE FREEDOM OF INFORMATION ACT.</Explanation>
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