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      <Form990ScheduleEPartII>
        <Identifier>Explanation of Nondiscriminatory Policy Publication</Identifier>
        <ReturnReference>Schedule E, Part I, Line 3</ReturnReference>
        <Explanation>The University Policy is widely circulated and available. The Policy is available on the University website, academic catalogue, student handbook, student applications and various other publications.</Explanation>
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      <Form990ScheduleEPartII>
        <Identifier>Explanation of Government Financial Assistance</Identifier>
        <ReturnReference>Schedule E, Part I, Line 6</ReturnReference>
        <Explanation>Franklin Pierce University particiates in the following governmental programs: Federal Pell Grant SEOG - Suupplemental Educational Opportunity Grant Federal Perkins Loans Federal Stafford Student Loan - Subsidized and unsubsidized Federal PLUS - Parent Loans for Undergraduate Students</Explanation>
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      <TotalAmountSpent>117620</TotalAmountSpent>
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        <NumberOfRecipients>24</NumberOfRecipients>
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        <ReturnReference>Schedule F, Part V</ReturnReference>
        <Explanation>Schedule F, Part I, Line 2: All assistance is in the form of grants and scholarships. These funds are applied directly to the student's account.</Explanation>
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      <Form990ScheduleIPartIII>
        <TypeOfGrant>Discounts</TypeOfGrant>
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      <Form990ScheduleIPartIV>
        <Identifier>Other Information:</Identifier>
        <ReturnReference>Part IV:</ReturnReference>
        <Explanation>Schedule I, Part I, Line 2: All assistance is in the form of grants and scholarships. Theses funds are applied directly to the student's account.</Explanation>
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      <Form990ScheduleJPartII>
        <NamePerson>Sandra Quaye</NamePerson>
        <BaseCompensationFilingOrg>126529</BaseCompensationFilingOrg>
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        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
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      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>David Brandes</NamePerson>
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      </Form990ScheduleJPartII>
      <Form990ScheduleJPartIII>
        <Identifier>Supplemental Information</Identifier>
        <ReturnReference>Part III</ReturnReference>
        <Explanation>James Earle, Richard Marshall and Mary Farrell received $48,780, $600 and $13,944, respectively, in tuition waivers during the year.</Explanation>
      </Form990ScheduleJPartIII>
    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="RetDoc1053100001">
      <Form990ScheduleKPartI>
        <IssuerName>
          <BusinessNameLine1>NH Health &amp; Education Facilities Authority</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>020279866</IssuerEIN>
        <DateIssued>2004-07-01</DateIssued>
        <IssuePrice>11000000</IssuePrice>
        <DescriptionOfPurpose>Construction of college facilities</DescriptionOfPurpose>
        <Defeased>0</Defeased>
        <OnBehalfOfIssuer>0</OnBehalfOfIssuer>
        <PoolFinancing>0</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartII>
        <TotalProceeds>11000000</TotalProceeds>
        <AmountInReserveFund>653099</AmountInReserveFund>
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        <CapitalExpenditures>9387359</CapitalExpenditures>
        <YearOfSubstCompletion>2007</YearOfSubstCompletion>
        <CurrentRefunding>0</CurrentRefunding>
        <AdvanceRefunding>0</AdvanceRefunding>
        <FinalAllocationMade>1</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>1</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartIII>
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        <AnyResearchAgreements>0</AnyResearchAgreements>
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        <PostIssuanceComplianceProcdrs>1</PostIssuanceComplianceProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIV>
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      </Form990ScheduleKPartIV>
    </IRS990ScheduleK>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Section B, line 11</Identifier>
        <Explanation>Form 990 was reviewed by management and the audit committee prior to filing.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>Form 990, Part VI, Section B, line 12c</ReturnReference>
        <Explanation>Officers, Trustees and key employees submit an affirmation that no conflicts exist or a disclosure of conflicts in October of each calendar year.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>Form 990, Part VI, Section B, line 15</ReturnReference>
        <Explanation>The Organization determines officers' salaries through a review of comparable salaries of officers in similar positions at universities and a review of officers' responsibilities. Officers' salaries are subject to approval by the Board.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>Form 990, Part VI, Section C, line 19</ReturnReference>
        <Explanation>Franklin Pierce University makes its governing documents, conflict of interest policy and financial statements available to the public upon request.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Changes in Net Assets or Fund Balances:</Identifier>
        <ReturnReference>Form 990, Part XI, line 5:</ReturnReference>
        <Explanation>Net unrealized gains on investments: 851,950.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>Form 990, Part XI, Line 2c</ReturnReference>
        <Explanation>The organization has not changed the audit oversight or selection process during the tax year.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>