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    <Timestamp>2012-05-02T16:51:16-07:00</Timestamp>
    <TaxPeriodEndDate>2011-09-30</TaxPeriodEndDate>
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        <BusinessNameLine1>STEVEN D MOCALIS</BusinessNameLine1>
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        <AddressLine1>705 N EL CAMINO REAL</AddressLine1>
        <City>SAN CLEMENTE</City>
        <State>CA</State>
        <ZIPCode>92672</ZIPCode>
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        <BusinessNameLine1>SAWDUST FESTIVAL CORPORATION</BusinessNameLine1>
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      <Phone>9494943030</Phone>
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        <City>LAGUNA BEACH</City>
        <State>CA</State>
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      <Name>TOM KLINGENMEIER</Name>
      <Title>GENERAL MANAGER</Title>
      <DateSigned>2012-05-02</DateSigned>
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    <Preparer>
      <Name>Steven D Mocalis</Name>
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    <TaxYear>2010</TaxYear>
    <BuildTS>2016-02-24 21:20:13Z</BuildTS>
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        <NamePerson>TOM KLINGENMEIER</NamePerson>
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      <FeesForServicesInvstMgmntFees>
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        <ManagementAndGeneral>28503</ManagementAndGeneral>
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      <InformationTechnology>
        <Total>0</Total>
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      <Royalties>
        <Total>0</Total>
      </Royalties>
      <Occupancy>
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      <Travel>
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      <TravelEntrtnmntPublicOfficials>
        <Total>0</Total>
      </TravelEntrtnmntPublicOfficials>
      <ConferencesMeetings>
        <Total>0</Total>
      </ConferencesMeetings>
      <Interest>
        <Total>0</Total>
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      <PaymentsToAffiliates>
        <Total>0</Total>
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      <DepreciationDepletion>
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        <ProgramServices>55972</ProgramServices>
        <ManagementAndGeneral>2173</ManagementAndGeneral>
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      <Insurance>
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        <ProgramServices>51079</ProgramServices>
        <ManagementAndGeneral>6637</ManagementAndGeneral>
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        <Total>100497</Total>
        <ProgramServices>95472</ProgramServices>
        <ManagementAndGeneral>5025</ManagementAndGeneral>
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      <OtherExpenses>
        <Description>PROGRAM SUPPLIES</Description>
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        <ProgramServices>57532</ProgramServices>
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      <OtherExpenses>
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        <ProgramServices>115144</ProgramServices>
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      <OtherExpenses>
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        <ProgramServices>154725</ProgramServices>
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      <OtherExpenses>
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        <ProgramServices>165302</ProgramServices>
        <ManagementAndGeneral>14554</ManagementAndGeneral>
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        <Fundraising>0</Fundraising>
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      <LandBuildingsEquipmentBasis>2363522</LandBuildingsEquipmentBasis>
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      <InvestmentsPubTradedSecurities>
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      <InvestmentsOtherSecurities>
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      <InvestmentsProgramRelated>
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      <FollowSFAS117>X</FollowSFAS117>
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      <InfoInScheduleOPartXI>X</InfoInScheduleOPartXI>
      <ReconcilationRevenueExpenses>-1512</ReconcilationRevenueExpenses>
      <ReconcilationOtherChanges>2851</ReconcilationOtherChanges>
      <InfoInScheduleOPartXII>X</InfoInScheduleOPartXII>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>true</FSAudited>
      <AuditCommittee>true</AuditCommittee>
      <FinancialStatementSeparate>X</FinancialStatementSeparate>
      <FederalGrantAuditRequired>false</FederalGrantAuditRequired>
      <FederalGrantAuditPerformed>false</FederalGrantAuditPerformed>
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      <AmtsRecdFromDisqualPersons>
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      <PriorYrInvestIncomePercentage>0.02940</PriorYrInvestIncomePercentage>
      <ThirtyThreePercntTestsCY509>X</ThirtyThreePercntTestsCY509>
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      <ContributorInfo>
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        <ContributorNameBusiness>
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        <ContributorAddressUS>
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          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
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        <AggregateContributions>RESTRICTED</AggregateContributions>
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        <BookValue>339839</BookValue>
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      <Buildings>
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        <Depreciation>1348488</Depreciation>
        <BookValue>459863</BookValue>
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      <Equipment>
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        <Depreciation>93639</Depreciation>
        <BookValue>27925</BookValue>
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        <Depreciation>89466</Depreciation>
        <BookValue>4302</BookValue>
      </OtherLandBuildings>
      <TotalOfBookValueLandBuildings>831929</TotalOfBookValueLandBuildings>
      <OtherLiabilities>
        <Description>ACCRUED PAYROLL</Description>
        <Amount>40067</Amount>
      </OtherLiabilities>
      <TotalOfAmounts>40067</TotalOfAmounts>
      <TotalRevenue>2081552</TotalRevenue>
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      <ExcessOrDeficitForYear>-1512</ExcessOrDeficitForYear>
      <NetUnrealizedGLOnInvestments>2851</NetUnrealizedGLOnInvestments>
      <TotalAdjustments>2851</TotalAdjustments>
      <ExcessOrDeficitPerFS>1339</ExcessOrDeficitPerFS>
      <TotRevenueEtcAuditedFinclStmt>2084403</TotRevenueEtcAuditedFinclStmt>
      <NetUnrealizedGainsInvestments>2851</NetUnrealizedGainsInvestments>
      <RevenueNotRptdF990>2851</RevenueNotRptdF990>
      <RevenueSubtotal>2081552</RevenueSubtotal>
      <TotalRevenuePerForm990>2081552</TotalRevenuePerForm990>
      <TotExpensesEtcAuditedFinclStmt>2083064</TotExpensesEtcAuditedFinclStmt>
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        <VolunteerLaborOtherGaming>false</VolunteerLaborOtherGaming>
        <GrossRevenueTotalGaming>29365</GrossRevenueTotalGaming>
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        <DirectExpenseSummaryGaming>35428</DirectExpenseSummaryGaming>
        <NetGamingIncomeSummary>-6063</NetGamingIncomeSummary>
      </GamingInformation>
      <StatesWhereGamingConducted>CA</StatesWhereGamingConducted>
      <Licensed>true</Licensed>
      <LicenseSuspendedEtc>false</LicenseSuspendedEtc>
      <GamingWithNonmembers>true</GamingWithNonmembers>
      <MemberOfOtherEntity>false</MemberOfOtherEntity>
      <PercentageOfGamingOwnFacility>1.00000</PercentageOfGamingOwnFacility>
      <NameOfGamingRecKeeperBus>
        <BusinessNameLine1>TOM KLINGENMEIER</BusinessNameLine1>
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        <City>LAGUNA BEACH</City>
        <State>CA</State>
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      </AddressOfGamingRecKeeperUS>
      <ContractWith3rdPartyForGamRev>false</ContractWith3rdPartyForGamRev>
      <CharitableDistribRequired>false</CharitableDistribRequired>
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      <TotalNbrOfOtherOrganizations>0</TotalNbrOfOtherOrganizations>
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        <AmountOfCashGrant>4000</AmountOfCashGrant>
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      <Form990ScheduleIPartIII>
        <TypeOfGrant>MEDICAL</TypeOfGrant>
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        <MethodOfDeterminingRevenues>FMV</MethodOfDeterminingRevenues>
      </CarsAndOtherVehicles>
      <AnyPropertyThatMustBeHeld>false</AnyPropertyThatMustBeHeld>
      <ReviewProcessUnusualNCGifts>false</ReviewProcessUnusualNCGifts>
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      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 19</Identifier>
        <ReturnReference>Form 990, Part VI, Line 19: Other Organization Documents Publicly Available</ReturnReference>
        <Explanation>THE ORGANIZATION'S GOVERNING DOCUMENTS, POLICIES AND FINANCIAL STATEMENTS ARE AVAILABLE FOR PUBLIC VIEWING UPON REQUEST.</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>THE ORGANIZATION'S PROCESS OF DETERMINING COMPENSATION FOR MANAGEMENT IS ACCOMPLISHED THROUGH ANNUAL PERFORMANCE REVIEWS.</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>THE ORGANIZATION REQUIRES ITS APPLICABLE BOARD MEMBERS AND EMPLOYEES TO SIGN CONFLICT OF INTEREST FORMS. THE BOARD SECRETARY UPDATES ANY CHANGES.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 11</Identifier>
        <ReturnReference>Form 990, Part VI, Line 11: Form 990 Review Process</ReturnReference>
        <Explanation>THE PROCESS OF REVIEWING AND APPROVING THE ORGANIZATION'S INFORMATION RETURN IS DONE BY A STUDY OR CLOSED SESSION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 4</Identifier>
        <ReturnReference>Form 990, Part VI, Line 4: Description of Significant Changes to Organizational Documents</ReturnReference>
        <Explanation>ESTABLISHED AN AUDIT COMMITTEE.</Explanation>
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