﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" returnVersion="2012v2.3">
  <ReturnHeader binaryAttachmentCount="0">
    <Timestamp>2013-11-13T13:55:27-06:00</Timestamp>
    <TaxPeriodEndDate>2013-06-30</TaxPeriodEndDate>
    <PreparerFirm>
      <PreparerFirmBusinessName>
        <BusinessNameLine1>SIMENSKY ENGSTROM &amp; ASSOCIATES CPA'S</BusinessNameLine1>
      </PreparerFirmBusinessName>
      <PreparerFirmUSAddress>
        <AddressLine1>PO BOX 760</AddressLine1>
        <City>SACO</City>
        <State>ME</State>
        <ZIPCode>04072</ZIPCode>
      </PreparerFirmUSAddress>
    </PreparerFirm>
    <ReturnType>990</ReturnType>
    <TaxPeriodBeginDate>2012-07-01</TaxPeriodBeginDate>
    <Filer>
      <EIN>010224769</EIN>
      <Name>
        <BusinessNameLine1>TRUSTEES OF THORNTON ACADEMY</BusinessNameLine1>
      </Name>
      <NameControl>TRUS</NameControl>
      <Phone>2072823361</Phone>
      <USAddress>
        <AddressLine1>438 MAIN ST</AddressLine1>
        <City>SACO</City>
        <State>ME</State>
        <ZIPCode>04072</ZIPCode>
      </USAddress>
    </Filer>
    <Officer>
      <Name>ERIC PURVIS</Name>
      <Title>PRESIDENT</Title>
      <Phone>2072823361</Phone>
      <DateSigned>2013-11-14</DateSigned>
      <AuthorizeThirdParty>true</AuthorizeThirdParty>
    </Officer>
    <Preparer>
      <Name>EDWARD K SIMENSKY</Name>
      <Phone>2072845943</Phone>
      <DatePrepared>2013-11-12</DatePrepared>
    </Preparer>
    <TaxYear>2012</TaxYear>
    <BuildTS>2016-03-07 17:11:31Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="7">
    <IRS990 documentId="RetDoc5" referenceDocumentId="RetDoc8">
      <NameOfPrincipalOfficerPerson>PAUL KELLY</NameOfPrincipalOfficerPerson>
      <AddressPrincipalOfficerUS>
        <AddressLine1>438 MAIN ST</AddressLine1>
        <City>SACO</City>
        <State>ME</State>
        <ZIPCode>04072</ZIPCode>
      </AddressPrincipalOfficerUS>
      <GrossReceipts>22857793</GrossReceipts>
      <GroupReturnForAffiliates>false</GroupReturnForAffiliates>
      <Organization501c3>X</Organization501c3>
      <WebSite>THORNTONACADEMY.ORG</WebSite>
      <TypeOfOrganizationCorporation>X</TypeOfOrganizationCorporation>
      <YearFormation>1811</YearFormation>
      <StateLegalDomicile>ME</StateLegalDomicile>
      <ActivityOrMissionDescription>HIGH SCHOOL EDUCATION</ActivityOrMissionDescription>
      <NbrVotingMembersGoverningBody>19</NbrVotingMembersGoverningBody>
      <NbrIndependentVotingMembers>19</NbrIndependentVotingMembers>
      <TotalNbrEmployees>288</TotalNbrEmployees>
      <TotalNbrVolunteers>300</TotalNbrVolunteers>
      <TotalGrossUBI>0</TotalGrossUBI>
      <ContributionsGrantsPriorYear>328691</ContributionsGrantsPriorYear>
      <ContributionsGrantsCurrentYear>269205</ContributionsGrantsCurrentYear>
      <ProgramServiceRevenuePriorYear>18051508</ProgramServiceRevenuePriorYear>
      <ProgramServiceRevenueCY>19407372</ProgramServiceRevenueCY>
      <InvestmentIncomePriorYear>292869</InvestmentIncomePriorYear>
      <InvestmentIncomeCurrentYear>357056</InvestmentIncomeCurrentYear>
      <OtherRevenuePriorYear>28599</OtherRevenuePriorYear>
      <OtherRevenueCurrentYear>3810</OtherRevenueCurrentYear>
      <TotalRevenuePriorYear>18701667</TotalRevenuePriorYear>
      <TotalRevenueCurrentYear>20037443</TotalRevenueCurrentYear>
      <GrantsAndSimilarAmntsCY>0</GrantsAndSimilarAmntsCY>
      <BenefitsPaidToMembersCY>0</BenefitsPaidToMembersCY>
      <SalariesEtcPriorYear>12987458</SalariesEtcPriorYear>
      <SalariesEtcCurrentYear>13626035</SalariesEtcCurrentYear>
      <TotalProfFundrsngExpCY>0</TotalProfFundrsngExpCY>
      <TotalFundrsngExpCurrentYear>379524</TotalFundrsngExpCurrentYear>
      <OtherExpensePriorYear>5724905</OtherExpensePriorYear>
      <OtherExpensesCurrentYear>5394724</OtherExpensesCurrentYear>
      <TotalExpensesPriorYear>18712363</TotalExpensesPriorYear>
      <TotalExpensesCurrentYear>19020759</TotalExpensesCurrentYear>
      <RevenuesLessExpensesPriorYear>-10696</RevenuesLessExpensesPriorYear>
      <RevenuesLessExpensesCY>1016684</RevenuesLessExpensesCY>
      <TotalAssetsBOY>33349509</TotalAssetsBOY>
      <TotalAssetsEOY>33975072</TotalAssetsEOY>
      <TotalLiabilitiesBOY>18712373</TotalLiabilitiesBOY>
      <TotalLiabilitiesEOY>17698889</TotalLiabilitiesEOY>
      <NetAssetsOrFundBalancesBOY>14637136</NetAssetsOrFundBalancesBOY>
      <NetAssetsOrFundBalancesEOY>16276183</NetAssetsOrFundBalancesEOY>
      <MissionDescription>HIGH SCHOOL EDUCATION</MissionDescription>
      <SignificantNewProgramServices>false</SignificantNewProgramServices>
      <SignificantChange>false</SignificantChange>
      <Expense>17520331</Expense>
      <Description>PROVIDED HIGH SCHOOL EDUCATION PRIMARILY TO RESIDENTS OF THE CITY OF SACO, MAINE.</Description>
      <TotalProgramServiceExpense>17520331</TotalProgramServiceExpense>
      <DescribedIn501C3 referenceDocumentId="RetDoc3">true</DescribedIn501C3>
      <ScheduleBRequired referenceDocumentId="RetDoc1">true</ScheduleBRequired>
      <PoliticalActivities>false</PoliticalActivities>
      <LobbyingActivities>false</LobbyingActivities>
      <SubjectToProxyTax>false</SubjectToProxyTax>
      <DonorAdvisedFunds referenceDocumentId="RetDoc4">false</DonorAdvisedFunds>
      <ConservationEasements referenceDocumentId="RetDoc4">false</ConservationEasements>
      <CollectionsOfArt referenceDocumentId="RetDoc4">false</CollectionsOfArt>
      <CreditCounseling referenceDocumentId="RetDoc4">false</CreditCounseling>
      <TermOrPermanentEndowments referenceDocumentId="RetDoc4">true</TermOrPermanentEndowments>
      <ReportLandBldgEquip referenceDocumentId="RetDoc4">true</ReportLandBldgEquip>
      <ReportInvestOthSecurities referenceDocumentId="RetDoc4">false</ReportInvestOthSecurities>
      <ReportProgRelInvest referenceDocumentId="RetDoc4">false</ReportProgRelInvest>
      <ReportOtherAssets referenceDocumentId="RetDoc4">false</ReportOtherAssets>
      <ReportOtherLiabilities referenceDocumentId="RetDoc4">true</ReportOtherLiabilities>
      <ReportFin48Footnote referenceDocumentId="RetDoc4">false</ReportFin48Footnote>
      <IndependentAuditFinancialStmt referenceDocumentId="RetDoc4">true</IndependentAuditFinancialStmt>
      <ConsolidatedAuditFinancialStmt referenceDocumentId="RetDoc4">false</ConsolidatedAuditFinancialStmt>
      <School referenceDocumentId="RetDoc6">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 referenceDocumentId="RetDoc7">true</ScheduleJRequired>
      <TaxExemptBonds>false</TaxExemptBonds>
      <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>
      <TransfersToExemptNonChrtblOrg>false</TransfersToExemptNonChrtblOrg>
      <ActivitiesConductedPartnership>false</ActivitiesConductedPartnership>
      <ScheduleORequired>true</ScheduleORequired>
      <NumberFormsTransmittedWith1096>59</NumberFormsTransmittedWith1096>
      <NumberW2GIncluded>0</NumberW2GIncluded>
      <ComplianceWithBackupWitholding>true</ComplianceWithBackupWitholding>
      <NumberOfEmployees>288</NumberOfEmployees>
      <EmploymentTaxReturnsFiled>true</EmploymentTaxReturnsFiled>
      <UnrelatedBusinessIncome>false</UnrelatedBusinessIncome>
      <ForeignFinancialAccount>false</ForeignFinancialAccount>
      <ProhibitedTaxShelterTrans>false</ProhibitedTaxShelterTrans>
      <TaxablePartyNotification>false</TaxablePartyNotification>
      <NonDeductibleContributions>false</NonDeductibleContributions>
      <IndoorTanningServices>false</IndoorTanningServices>
      <InfoInScheduleOPartVI>X</InfoInScheduleOPartVI>
      <NbrVotingGoverningBodyMembers>19</NbrVotingGoverningBodyMembers>
      <NumberIndependentVotingMembers>19</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>true</MinutesOfCommittees>
      <OfficerMailingAddress>false</OfficerMailingAddress>
      <LocalChapters>false</LocalChapters>
      <Form990ProvidedToGoverningBody>false</Form990ProvidedToGoverningBody>
      <ConflictOfInterestPolicy>false</ConflictOfInterestPolicy>
      <WhistleblowerPolicy>false</WhistleblowerPolicy>
      <DocumentRetentionPolicy>true</DocumentRetentionPolicy>
      <CompensationProcessCEO>true</CompensationProcessCEO>
      <CompensationProcessOther>false</CompensationProcessOther>
      <InvestmentInJointVenture>false</InvestmentInJointVenture>
      <UponRequest>X</UponRequest>
      <TheBooksAreInCareOf>
        <NamePerson>PAUL KELLY</NamePerson>
        <TelephoneNumber>2072823361</TelephoneNumber>
        <AddressUS>
          <AddressLine1>438 MAIN ST</AddressLine1>
          <City>SACO</City>
          <State>ME</State>
          <ZIPCode>04072</ZIPCode>
        </AddressUS>
      </TheBooksAreInCareOf>
      <NoListedPersonsCompensated>X</NoListedPersonsCompensated>
      <Form990PartVIISectionA>
        <NamePerson>VANGEL C COTSIS</NamePerson>
        <Title>ASST TREASUR</Title>
        <AverageHoursPerWeek>6.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>BERNARD W GAINES</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>ROBERT P GOWEN</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>JOYCE HALEY-MARTIN</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>KENNETH JANSON</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>WILLIAM D JOHNSON</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>WILLIAM S KANY</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>KAREN B LOVELL</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>JAMES E NELSON</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>JEANNE HEY</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>MARK G WILLETT</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>BRIAN K DALLAIRE</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>PAUL F REMMES</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>KATHLEEN BOUTET SANTAMORE</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>EARLE CIANCHETTE</NamePerson>
        <Title>TRUSTEE</Title>
        <AverageHoursPerWeek>2.00</AverageHoursPerWeek>
        <IndividualTrusteeOrDirector>X</IndividualTrusteeOrDirector>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>PHILIP D FEARON</NamePerson>
        <Title>SECRETARY</Title>
        <AverageHoursPerWeek>6.00</AverageHoursPerWeek>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>DENNIS J FLAHERTY</NamePerson>
        <Title>TREASURER</Title>
        <AverageHoursPerWeek>6.00</AverageHoursPerWeek>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>STEPHEN B GARLAND</NamePerson>
        <Title>VICE-PRESIDE</Title>
        <AverageHoursPerWeek>6.00</AverageHoursPerWeek>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>ERIC A PURVIS</NamePerson>
        <Title>PRESIDENT</Title>
        <AverageHoursPerWeek>6.00</AverageHoursPerWeek>
        <Officer>X</Officer>
        <ReportableCompFromOrganization>0</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>CARL STASIO JR</NamePerson>
        <Title>HEADMASTER</Title>
        <AverageHoursPerWeek>40.00</AverageHoursPerWeek>
        <KeyEmployee>X</KeyEmployee>
        <ReportableCompFromOrganization>378717</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>RENE MENARD</NamePerson>
        <Title>ASST HEADMAS</Title>
        <AverageHoursPerWeek>40.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>105811</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <Form990PartVIISectionA>
        <NamePerson>JOHN RITZO</NamePerson>
        <Title>DEVELOPMENT</Title>
        <AverageHoursPerWeek>40.00</AverageHoursPerWeek>
        <HighestCompensatedEmployee>X</HighestCompensatedEmployee>
        <ReportableCompFromOrganization>101852</ReportableCompFromOrganization>
        <ReportableCompFromRelatedOrgs>0</ReportableCompFromRelatedOrgs>
        <OtherCompensation>0</OtherCompensation>
      </Form990PartVIISectionA>
      <TotalReportableCompFromOrg>586380</TotalReportableCompFromOrg>
      <NumberIndividualsGT100K>3</NumberIndividualsGT100K>
      <FormersListed>false</FormersListed>
      <TotalCompGT150K>true</TotalCompGT150K>
      <CompensationFromOtherSources>false</CompensationFromOtherSources>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>HERBERT CONSTRUCTION LLC</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>9 GOULD ROAD</AddressLine1>
            <City>LEWISTON</City>
            <State>ME</State>
            <ZIPCode>04240</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>CONSTRUCTION</DescriptionOfServices>
        <Compensation>429528</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>SHAW BROTHERS CONSTRUCTION INC</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>511 MAIN ST</AddressLine1>
            <AddressLine2>PO BOX 69</AddressLine2>
            <City>GORHAM</City>
            <State>ME</State>
            <ZIPCode>04038</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>CONSTRUCTION</DescriptionOfServices>
        <Compensation>371089</Compensation>
      </ContractorCompensation>
      <NumberOfContractorsGT100K>2</NumberOfContractorsGT100K>
      <AllOtherContributions>269205</AllOtherContributions>
      <TotalContributions>269205</TotalContributions>
      <ProgramServiceRevenue>
        <Description>TUITION</Description>
        <TotalRevenueColumn>14310703</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>14310703</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>RESIDENTIAL TUITION &amp; FEES</Description>
        <TotalRevenueColumn>5068929</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>5068929</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>ATHLETICS INCOME</Description>
        <TotalRevenueColumn>27740</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>27740</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <TotalProgramServiceRevenue>19407372</TotalProgramServiceRevenue>
      <InvestmentIncome>
        <TotalRevenueColumn>241015</TotalRevenueColumn>
        <ExclusionAmount>241015</ExclusionAmount>
      </InvestmentIncome>
      <GrossRents>
        <Real>3810</Real>
      </GrossRents>
      <RentalIncomeOrLoss>
        <Real>3810</Real>
      </RentalIncomeOrLoss>
      <NetRentalIncomeOrLoss>
        <TotalRevenueColumn>3810</TotalRevenueColumn>
        <ExclusionAmount>3810</ExclusionAmount>
      </NetRentalIncomeOrLoss>
      <GrossAmountSalesAssets>
        <Securities>2936391</Securities>
      </GrossAmountSalesAssets>
      <LessCostOthBasisSalesExpenses>
        <Securities>2820350</Securities>
      </LessCostOthBasisSalesExpenses>
      <GainOrLoss>
        <Securities>116041</Securities>
      </GainOrLoss>
      <NetGainOrLossInvestments>
        <TotalRevenueColumn>116041</TotalRevenueColumn>
        <ExclusionAmount>116041</ExclusionAmount>
      </NetGainOrLossInvestments>
      <TotalRevenue>
        <TotalRevenueColumn>20037443</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>19407372</RelatedOrExemptFunctionIncome>
        <ExclusionAmount>360866</ExclusionAmount>
      </TotalRevenue>
      <CompCurrentOfficersDirectors>
        <Total>378717</Total>
        <ProgramServices>378717</ProgramServices>
      </CompCurrentOfficersDirectors>
      <OtherSalariesAndWages>
        <Total>10332004</Total>
        <ProgramServices>9239033</ProgramServices>
        <ManagementAndGeneral>829347</ManagementAndGeneral>
        <Fundraising>263624</Fundraising>
      </OtherSalariesAndWages>
      <OtherEmployeeBenefits>
        <Total>2915314</Total>
        <ProgramServices>2617917</ProgramServices>
        <ManagementAndGeneral>225665</ManagementAndGeneral>
        <Fundraising>71732</Fundraising>
      </OtherEmployeeBenefits>
      <Interest>
        <Total>567703</Total>
        <ProgramServices>567703</ProgramServices>
      </Interest>
      <DepreciationDepletion>
        <Total>1082802</Total>
        <ProgramServices>1082802</ProgramServices>
      </DepreciationDepletion>
      <OtherExpenses>
        <Description>CAMPUS OPERATIONS</Description>
        <Total>1956663</Total>
        <ProgramServices>1956663</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>PLANT OPERATIONS</Description>
        <Total>958083</Total>
        <ProgramServices>958083</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>INSTRUCTIONAL COSTS, ETC</Description>
        <Total>773318</Total>
        <ProgramServices>681534</ProgramServices>
        <ManagementAndGeneral>65892</ManagementAndGeneral>
        <Fundraising>25892</Fundraising>
      </OtherExpenses>
      <OtherExpenses>
        <Description>SCHOLARSHIP AWARDS</Description>
        <Total>26695</Total>
        <ProgramServices>26695</ProgramServices>
      </OtherExpenses>
      <AllOtherExpenses>
        <Total>29460</Total>
        <ProgramServices>11184</ProgramServices>
        <Fundraising>18276</Fundraising>
      </AllOtherExpenses>
      <TotalFunctionalExpenses>
        <Total>19020759</Total>
        <ProgramServices>17520331</ProgramServices>
        <ManagementAndGeneral>1120904</ManagementAndGeneral>
        <Fundraising>379524</Fundraising>
      </TotalFunctionalExpenses>
      <SavingsAndTempCashInvestments>
        <BOY>2738425</BOY>
        <EOY>2335205</EOY>
      </SavingsAndTempCashInvestments>
      <PledgesAndGrantsReceivable>
        <BOY>92640</BOY>
        <EOY>29196</EOY>
      </PledgesAndGrantsReceivable>
      <AccountsReceivable>
        <BOY>72489</BOY>
        <EOY>36457</EOY>
      </AccountsReceivable>
      <PrepaidExpensesDeferredCharges>
        <BOY>8082</BOY>
        <EOY>26168</EOY>
      </PrepaidExpensesDeferredCharges>
      <LandBuildingsEquipmentBasis>33632105</LandBuildingsEquipmentBasis>
      <LandBldgEquipmentAccumDeprec>10488403</LandBldgEquipmentAccumDeprec>
      <LandBuildingsEquipmentBasisNet>
        <BOY>22748060</BOY>
        <EOY>23143702</EOY>
      </LandBuildingsEquipmentBasisNet>
      <InvestmentsPubTradedSecurities>
        <BOY>7677346</BOY>
        <EOY>8392916</EOY>
      </InvestmentsPubTradedSecurities>
      <IntangibleAssets>
        <BOY>12467</BOY>
        <EOY>11428</EOY>
      </IntangibleAssets>
      <TotalAssets>
        <BOY>33349509</BOY>
        <EOY>33975072</EOY>
      </TotalAssets>
      <AccountsPayableAccruedExpenses>
        <BOY>1483907</BOY>
        <EOY>1286658</EOY>
      </AccountsPayableAccruedExpenses>
      <MortNotesPyblSecuredInvestProp>
        <BOY>13991424</BOY>
        <EOY>13432081</EOY>
      </MortNotesPyblSecuredInvestProp>
      <OtherLiabilities>
        <BOY>3237042</BOY>
        <EOY>2980150</EOY>
      </OtherLiabilities>
      <TotalLiabilities>
        <BOY>18712373</BOY>
        <EOY>17698889</EOY>
      </TotalLiabilities>
      <FollowSFAS117>X</FollowSFAS117>
      <UnrestrictedNetAssets>
        <BOY>14423532</BOY>
        <EOY>16061095</EOY>
      </UnrestrictedNetAssets>
      <TemporarilyRestrictedNetAssets>
        <BOY>213604</BOY>
        <EOY>215088</EOY>
      </TemporarilyRestrictedNetAssets>
      <TotalNetAssetsFundBalances>
        <BOY>14637136</BOY>
        <EOY>16276183</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>33349509</BOY>
        <EOY>33975072</EOY>
      </TotalLiabNetAssetsFundBalances>
      <ReconcilationRevenueExpenses>1016684</ReconcilationRevenueExpenses>
      <ReconciliationUnrealizedInvest>622363</ReconciliationUnrealizedInvest>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>true</FSAudited>
      <FSAuditedBasis>
        <FinancialStatementSeparate>X</FinancialStatementSeparate>
      </FSAuditedBasis>
      <AuditCommittee>false</AuditCommittee>
      <FederalGrantAuditRequired>false</FederalGrantAuditRequired>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc3">
      <School170b1Aii>X</School170b1Aii>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1">
      <ContributorInfo>
        <ContributorNumber>RESTRICTED</ContributorNumber>
        <ContributorNameBusiness>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorNameBusiness>
        <ContributorAddressUS>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorAddressUS>
        <AggregateContributions>RESTRICTED</AggregateContributions>
      </ContributorInfo>
    </IRS990ScheduleB>
    <IRS990ScheduleD documentId="RetDoc4">
      <CurrentYear>
        <BeginningOfYearBalance>8000732</BeginningOfYearBalance>
        <Contributions>2579</Contributions>
        <InvestmentEarningsOrLosses>963024</InvestmentEarningsOrLosses>
        <OtherExpenditures>13065</OtherExpenditures>
        <AdministrativeExpenses>65892</AdministrativeExpenses>
        <EndOfYearBalance>8887378</EndOfYearBalance>
      </CurrentYear>
      <CurrentYearMinus1Year>
        <BeginningOfYearBalance>8787914</BeginningOfYearBalance>
        <Contributions>20788</Contributions>
        <InvestmentEarningsOrLosses>17818</InvestmentEarningsOrLosses>
        <OtherExpenditures>765404</OtherExpenditures>
        <AdministrativeExpenses>60384</AdministrativeExpenses>
        <EndOfYearBalance>8000732</EndOfYearBalance>
      </CurrentYearMinus1Year>
      <CurrentYearMinus2Years>
        <BeginningOfYearBalance>7489014</BeginningOfYearBalance>
        <Contributions>45801</Contributions>
        <InvestmentEarningsOrLosses>1305937</InvestmentEarningsOrLosses>
        <AdministrativeExpenses>52838</AdministrativeExpenses>
        <EndOfYearBalance>8787914</EndOfYearBalance>
      </CurrentYearMinus2Years>
      <BoardDesignatedEOYBalance>1.00000</BoardDesignatedEOYBalance>
      <EndowmentsHeldByUnrelatedOrgs>false</EndowmentsHeldByUnrelatedOrgs>
      <EndowmentsHeldByRelatedOrgs>false</EndowmentsHeldByRelatedOrgs>
      <Land>
        <OtherCostOrOtherBasis>727574</OtherCostOrOtherBasis>
        <BookValue>727574</BookValue>
      </Land>
      <Buildings>
        <OtherCostOrOtherBasis>28190354</OtherCostOrOtherBasis>
        <Depreciation>6992707</Depreciation>
        <BookValue>21197647</BookValue>
      </Buildings>
      <Equipment>
        <OtherCostOrOtherBasis>4714177</OtherCostOrOtherBasis>
        <Depreciation>3495696</Depreciation>
        <BookValue>1218481</BookValue>
      </Equipment>
      <TotalOfBookValueLandBuildings>23143702</TotalOfBookValueLandBuildings>
      <OtherLiabilities>
        <Description>UNEARNED INCOME</Description>
        <Amount>2980150</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>ADVANCE FROM UBS</Description>
      </OtherLiabilities>
      <TotalOfAmounts>2980150</TotalOfAmounts>
      <TotRevenueEtcAuditedFinclStmt>20659806</TotRevenueEtcAuditedFinclStmt>
      <NetUnrealizedGainsInvestments>622363</NetUnrealizedGainsInvestments>
      <RevenueNotRptdF990>622363</RevenueNotRptdF990>
      <RevenueSubtotal>20037443</RevenueSubtotal>
      <TotalRevenuePerForm990>20037443</TotalRevenuePerForm990>
      <TotExpensesEtcAuditedFinclStmt>19020759</TotExpensesEtcAuditedFinclStmt>
      <ExpensesSubtotal>19020759</ExpensesSubtotal>
      <TotalExpensesPerForm990>19020759</TotalExpensesPerForm990>
    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="RetDoc6">
      <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>false</GovernmentFinancialAidReceived>
      <GovernmentFinancialAidRevoked>false</GovernmentFinancialAidRevoked>
      <ComplianceWithRevProc7550>true</ComplianceWithRevProc7550>
      <Form990ScheduleEPartII>
        <Identifier>PUBLICATION OF NONDISCRIMINATORY POLICY IN MEDIA EXPLANATION</Identifier>
        <ReturnReference>SCHEDULE E LINE 3</ReturnReference>
        <Explanation>ANY STUDENT RESIDING IN THE CITY OF SACO IS ELIGIBLE TO ATTEND</Explanation>
      </Form990ScheduleEPartII>
    </IRS990ScheduleE>
    <IRS990ScheduleJ documentId="RetDoc7">
      <HousingAllowanceOrResidence>X</HousingAllowanceOrResidence>
      <WrittenPolicyReTAndEExpenses>true</WrittenPolicyReTAndEExpenses>
      <SubstantiationRequired>false</SubstantiationRequired>
      <CompensationCommittee>X</CompensationCommittee>
      <SeverancePayment>false</SeverancePayment>
      <SupplementalNonqualRetirePlan>false</SupplementalNonqualRetirePlan>
      <EquityBasedCompArrangement>false</EquityBasedCompArrangement>
      <CompBasedOnRevenueOfFilingOrg>false</CompBasedOnRevenueOfFilingOrg>
      <CompBasedOnRevenueRelatedOrgs>false</CompBasedOnRevenueRelatedOrgs>
      <CompBasedNetEarningsFilingOrg>false</CompBasedNetEarningsFilingOrg>
      <CompBasedNetEarningsRelateOrgs>false</CompBasedNetEarningsRelateOrgs>
      <AnyNonFixedPayments>false</AnyNonFixedPayments>
      <InitialContractException>false</InitialContractException>
      <Form990ScheduleJPartII>
        <NamePerson>CARL STASIO JR</NamePerson>
        <Title>HEADMASTER</Title>
        <BaseCompensationFilingOrg>175000</BaseCompensationFilingOrg>
        <BonusFilingOrg>203717</BonusFilingOrg>
        <TotalCompensationFilingOrg>378717</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
    </IRS990ScheduleJ>
    <IRS990ScheduleO documentId="RetDoc8">
      <GeneralExplanation>
        <Identifier>ORGANIZATION'S PROCESS USED TO REVIEW FORM 990</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 11B</ReturnReference>
        <Explanation>THE FINANCE DIRECTOR REVIEWS FORM 990, AND THEN THE PRESIDENT ALSO REVIEWS IT AND SIGNS IT.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>COMPENSATION PROCESS FOR TOP OFFICIAL</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 15A</ReturnReference>
        <Explanation>HEADMASTER'S COMPENSATION IS DETERMINED BY THE BOARD OF TRUSTEES.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>GOVERNING DOCUMENTS DISCLOSURE EXPLANATION</Identifier>
        <ReturnReference>FORM 990, PAGE 6, PART VI, LINE 19</ReturnReference>
        <Explanation>AVAILABLE UPON REQUEST.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>