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      <UnsecuredNotesLoansPayable>
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        <EOY>84600</EOY>
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      <TotalLiabilities>
        <BOY>154595</BOY>
        <EOY>177325</EOY>
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      <DoNotFollowSFAS117>X</DoNotFollowSFAS117>
      <CapStckTrstPrinCurrentFunds>
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        <EOY>268036</EOY>
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      <RetainedEarningsEndowmentEtc>
        <BOY>-81203</BOY>
        <EOY>-114041</EOY>
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      <TotalNetAssetsFundBalances>
        <BOY>400452</BOY>
        <EOY>286411</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>555047</BOY>
        <EOY>463736</EOY>
      </TotalLiabNetAssetsFundBalances>
      <ReconcilationRevenueExpenses>-114041</ReconcilationRevenueExpenses>
      <ReconcilationOtherChanges>0</ReconcilationOtherChanges>
      <InfoInScheduleOPartXII>X</InfoInScheduleOPartXII>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>0</AccountantCompileOrReview>
      <FSAudited>1</FSAudited>
      <AuditCommittee>1</AuditCommittee>
      <FinancialStatementSeparate>X</FinancialStatementSeparate>
      <FederalGrantAuditRequired>0</FederalGrantAuditRequired>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc1039100001">
      <School170b1Aii>X</School170b1Aii>
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    <IRS990ScheduleB documentId="RetDoc1234500001">
      <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="RetDoc1040000001">
      <LeaseholdImprovements>
        <OtherCostOrOtherBasis>275392</OtherCostOrOtherBasis>
        <Depreciation>275392</Depreciation>
        <BookValue>0</BookValue>
      </LeaseholdImprovements>
      <Equipment>
        <OtherCostOrOtherBasis>168999</OtherCostOrOtherBasis>
        <Depreciation>63907</Depreciation>
        <BookValue>105092</BookValue>
      </Equipment>
      <TotalOfBookValueLandBuildings>105092</TotalOfBookValueLandBuildings>
      <TotalRevenue>1218508</TotalRevenue>
      <TotalExpenses>1332549</TotalExpenses>
      <ExcessOrDeficitForYear>-114041</ExcessOrDeficitForYear>
      <ExcessOrDeficitPerFS>-114041</ExcessOrDeficitPerFS>
      <TotRevenueEtcAuditedFinclStmt>1218508</TotRevenueEtcAuditedFinclStmt>
      <RevenueNotRptdF990>0</RevenueNotRptdF990>
      <RevenueSubtotal>1218508</RevenueSubtotal>
      <RevenueNotRptdOnFinStmt>0</RevenueNotRptdOnFinStmt>
      <TotalRevenuePerForm990>1218508</TotalRevenuePerForm990>
      <TotExpensesEtcAuditedFinclStmt>1332549</TotExpensesEtcAuditedFinclStmt>
      <ExpensesNotRptdF990>0</ExpensesNotRptdF990>
      <ExpensesSubtotal>1332549</ExpensesSubtotal>
      <ExpensesNotRptdOnFinStmt>0</ExpensesNotRptdOnFinStmt>
      <TotalExpensesPerForm990>1332549</TotalExpensesPerForm990>
    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="RetDoc1040400001">
      <NondiscriminatoryPolicyStmt>1</NondiscriminatoryPolicyStmt>
      <PolicyStatementInBrochuresEtc>1</PolicyStatementInBrochuresEtc>
      <PolicyPublViaBroadcastMedia>1</PolicyPublViaBroadcastMedia>
      <MaintRacialCompositionRecords>1</MaintRacialCompositionRecords>
      <MaintScholarshipsRecords>1</MaintScholarshipsRecords>
      <MaintCopiesOfBrochuresEtc>1</MaintCopiesOfBrochuresEtc>
      <MaintCopiesOfAllSolicitations>1</MaintCopiesOfAllSolicitations>
      <DiscriminateRaceStudentsRights>1</DiscriminateRaceStudentsRights>
      <DiscriminateRaceAdmissPolicies>1</DiscriminateRaceAdmissPolicies>
      <DiscriminateRaceEmplmnFaculty>1</DiscriminateRaceEmplmnFaculty>
      <DiscriminateRaceScholarships>1</DiscriminateRaceScholarships>
      <DiscriminateRaceEducPolicies>1</DiscriminateRaceEducPolicies>
      <DiscriminateRaceUseOfFclts>1</DiscriminateRaceUseOfFclts>
      <DiscriminateRaceAthleticProg>1</DiscriminateRaceAthleticProg>
      <DiscriminateRaceOtherActy>1</DiscriminateRaceOtherActy>
      <GovernmentFinancialAidReceived>1</GovernmentFinancialAidReceived>
      <GovernmentFinancialAidRevoked>0</GovernmentFinancialAidRevoked>
      <ComplianceWithRevProc7550>1</ComplianceWithRevProc7550>
      <Form990ScheduleEPartII>
        <Identifier>EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION</Identifier>
        <ReturnReference>SCHEDULE E, PART I, LINE 3</ReturnReference>
        <Explanation>THE POLICY IS COMMUNICATED IN ALL SOLICITATION AND REGISTRATION MATERIALS</Explanation>
      </Form990ScheduleEPartII>
      <Form990ScheduleEPartII>
        <Identifier>EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE</Identifier>
        <ReturnReference>SCHEDULE E, PART I, LINE 6</ReturnReference>
        <Explanation>AS A PUBLIC CHARTER SCHOOL, THE SCHOOL RECEIVES STATE AND FEDERAL FUNDING</Explanation>
      </Form990ScheduleEPartII>
    </IRS990ScheduleE>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 6</ReturnReference>
        <Explanation>MEMBERS INCLUDE EMPLOYEES AND PARENTS OF CHILDREN ENROLLED IN THE SCHOOL.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 7A</ReturnReference>
        <Explanation>EMPLOYEES AND PARENTS OF CHILDREN ENROLLED IN THE SCHOOL MAY VOTE IN ELECTIONS FOR THE BOARD OF DIRECTORS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION A, LINE 7B</ReturnReference>
        <Explanation>REVISIONS TO THE ORGANIZATIONS BYLAWS ARE SUBJECT TO APPROVAL BY THE MEMBERSHIP.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 11</ReturnReference>
        <Explanation>THE BUSINESS MANAGER AND EXECUTIVE DIRECTOR REVIEW A DRAFT OF THE FORM 990. THE FINAL VERSION IS SHARED WITH THE VOTING MEMBERS OF THE BOARD.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 12C</ReturnReference>
        <Explanation>BOARD MEMBERS COMPLETE AN ANNUAL STATEMENT DISCLOSING ANY CONFLICT OF INTEREST. THE EXECUTIVE DIRECTOR REVIEWS CONTRACTS FOR CONFLICTS OF INTEREST PRIOR TO APPROVAL</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 15</ReturnReference>
        <Explanation>IN 2006, A SALARY SCHEDULE WAS PRESENTED TO THE BOARD FOR APPROVAL WITH COMPARABILITY DATA INCLUDED. EACH YEAR UPDATED DATA IS REVIEWED AS PART OF THE BUDGETING PROCESS FOR SALARY INCREASES</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>PUBLIC DOCUMENTS WILL BE MADE AVAILABLE UPON REQUEST</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>THE CHARTER SCHOOL'S BOARD OF EDUCATION ASSUMES THE RESPONSIBILITY FOR OVERSIGHT OF THE AUDITS OF ITS FINANCIAL STATEMENTS AND THE SELECTION OF THE INDEPENDENT ACCOUNTANT.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc1043400001">
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>SOUTHSIDE FAMILY SCHOOL</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>4500 CLINTON AVE S</AddressLine1>
          <City>MINNEAPOLIS</City>
          <State>MN</State>
          <ZIPCode>55419</ZIPCode>
        </AddressUS>
        <EIN>411253375</EIN>
        <PrimaryActivities>CHARITABLE FUNDRAISING - FORMER SCHOOL</PrimaryActivities>
        <LegalDomicileState>MN</LegalDomicileState>
        <ExemptCodeSection>501(C)(3)</ExemptCodeSection>
        <PublicCharityStatus>LINE 2</PublicCharityStatus>
        <ControlledOrg>0</ControlledOrg>
      </Form990ScheduleRPartII>
      <ReceiptOfIntAnnRentsRoyalties>0</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>0</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>1</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>0</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>0</LoansOrGuaranteesFromOtherOrg>
      <SaleOfAssetsToOtherOrg>0</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>0</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>0</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>0</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>0</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>0</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>0</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>0</SharingOfFacilities>
      <SharingOfPaidEmployees>0</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>0</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>0</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>0</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>0</OtherTransferFromOtherOrg>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>SOUTHSIDE FAMILY SCHOOL</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>C</TransactionType>
        <AmountInvolved>15000</AmountInvolved>
      </TransactionsRelatedOrgsTable>
    </IRS990ScheduleR>
  </ReturnData>
</Return>