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          <AddressUS>
            <AddressLine1>58 CANAL STREET</AddressLine1>
            <City>HOLYOKE</City>
            <State>MA</State>
            <ZIPCode>01040</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>Printing</DescriptionOfServices>
        <Compensation>101956</Compensation>
      </ContractorCompensation>
      <NumberOfContractorsGT100K>5</NumberOfContractorsGT100K>
      <AllOtherContributions>7021283</AllOtherContributions>
      <TotalContributions>7021283</TotalContributions>
      <ProgramServiceRevenue>
        <Description>Tuition &amp; Fees</Description>
        <BusinessCode>900099</BusinessCode>
        <TotalRevenueColumn>10596917</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>10596917</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <TotalProgramServiceRevenue>10596917</TotalProgramServiceRevenue>
      <InvestmentIncome>
        <TotalRevenueColumn>382880</TotalRevenueColumn>
        <ExclusionAmount>382880</ExclusionAmount>
      </InvestmentIncome>
      <GrossAmountSalesAssets>
        <Securities>6694679</Securities>
      </GrossAmountSalesAssets>
      <LessCostOthBasisSalesExpenses>
        <Securities>4634266</Securities>
      </LessCostOthBasisSalesExpenses>
      <GainOrLoss>
        <Securities>2060413</Securities>
      </GainOrLoss>
      <NetGainOrLossInvestments>
        <TotalRevenueColumn>2060413</TotalRevenueColumn>
        <ExclusionAmount>2060413</ExclusionAmount>
      </NetGainOrLossInvestments>
      <GrossSalesOfInventory>265764</GrossSalesOfInventory>
      <CostOfGoodsSold>74137</CostOfGoodsSold>
      <NetIncomeOrLoss>
        <TotalRevenueColumn>191627</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>191627</RelatedOrExemptFunctionIncome>
      </NetIncomeOrLoss>
      <OtherRevenueMisc>
        <Description>Auxillary Activities</Description>
        <BusinessCode>721210</BusinessCode>
        <TotalRevenueColumn>14732</TotalRevenueColumn>
        <UnrelatedBusinessRevenue>14732</UnrelatedBusinessRevenue>
      </OtherRevenueMisc>
      <OtherRevenueMisc>
        <Description>Other Activities</Description>
        <BusinessCode>900099</BusinessCode>
        <TotalRevenueColumn>93210</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>93210</RelatedOrExemptFunctionIncome>
      </OtherRevenueMisc>
      <TotalOtherRevenue>107942</TotalOtherRevenue>
      <TotalRevenue>
        <TotalRevenueColumn>20361062</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>10881754</RelatedOrExemptFunctionIncome>
        <UnrelatedBusinessRevenue>14732</UnrelatedBusinessRevenue>
        <ExclusionAmount>2443293</ExclusionAmount>
      </TotalRevenue>
      <GrantsToDomesticIndividuals>
        <Total>1475894</Total>
        <ProgramServices>1475894</ProgramServices>
      </GrantsToDomesticIndividuals>
      <OtherSalariesAndWages>
        <Total>6248830</Total>
        <ProgramServices>4900365</ProgramServices>
        <ManagementAndGeneral>941828</ManagementAndGeneral>
        <Fundraising>406637</Fundraising>
      </OtherSalariesAndWages>
      <OtherEmployeeBenefits>
        <Total>1411946</Total>
        <ProgramServices>1097068</ProgramServices>
        <ManagementAndGeneral>227810</ManagementAndGeneral>
        <Fundraising>87068</Fundraising>
      </OtherEmployeeBenefits>
      <Occupancy>
        <Total>686748</Total>
        <ProgramServices>538551</ProgramServices>
        <ManagementAndGeneral>103507</ManagementAndGeneral>
        <Fundraising>44690</Fundraising>
      </Occupancy>
      <Interest>
        <Total>593442</Total>
        <ProgramServices>593442</ProgramServices>
        <ManagementAndGeneral>0</ManagementAndGeneral>
        <Fundraising>0</Fundraising>
      </Interest>
      <DepreciationDepletion>
        <Total>1357454</Total>
        <ProgramServices>1064522</ProgramServices>
        <ManagementAndGeneral>204597</ManagementAndGeneral>
        <Fundraising>88335</Fundraising>
      </DepreciationDepletion>
      <OtherExpenses>
        <Description>Dining Hall</Description>
        <Total>613559</Total>
        <ProgramServices>613559</ProgramServices>
        <ManagementAndGeneral>0</ManagementAndGeneral>
        <Fundraising>0</Fundraising>
      </OtherExpenses>
      <OtherExpenses>
        <Description>Instructional &amp; Student Services</Description>
        <Total>1005334</Total>
        <ProgramServices>1005334</ProgramServices>
        <ManagementAndGeneral>0</ManagementAndGeneral>
        <Fundraising>0</Fundraising>
      </OtherExpenses>
      <OtherExpenses>
        <Description>Plant Operations &amp; Maintenance</Description>
        <Total>787670</Total>
        <ProgramServices>617695</ProgramServices>
        <ManagementAndGeneral>118718</ManagementAndGeneral>
        <Fundraising>51257</Fundraising>
      </OtherExpenses>
      <OtherExpenses>
        <Description>General &amp; Administrative</Description>
        <Total>680195</Total>
        <ProgramServices>0</ProgramServices>
        <ManagementAndGeneral>680195</ManagementAndGeneral>
        <Fundraising>0</Fundraising>
      </OtherExpenses>
      <OtherExpenses>
        <Description>Alumni &amp; Development</Description>
        <Total>274299</Total>
        <ProgramServices>0</ProgramServices>
        <ManagementAndGeneral>0</ManagementAndGeneral>
        <Fundraising>274299</Fundraising>
      </OtherExpenses>
      <TotalFunctionalExpenses>
        <Total>15135371</Total>
        <ProgramServices>11906430</ProgramServices>
        <ManagementAndGeneral>2276655</ManagementAndGeneral>
        <Fundraising>952286</Fundraising>
      </TotalFunctionalExpenses>
      <CashNonInterestBearing>
        <BOY>11013336</BOY>
        <EOY>6931177</EOY>
      </CashNonInterestBearing>
      <PledgesAndGrantsReceivable>
        <BOY>3726356</BOY>
        <EOY>5741939</EOY>
      </PledgesAndGrantsReceivable>
      <AccountsReceivable>
        <BOY>114869</BOY>
        <EOY>406438</EOY>
      </AccountsReceivable>
      <InventoriesForSaleOrUse>
        <BOY>58476</BOY>
        <EOY>88303</EOY>
      </InventoriesForSaleOrUse>
      <PrepaidExpensesDeferredCharges>
        <BOY>278389</BOY>
        <EOY>134001</EOY>
      </PrepaidExpensesDeferredCharges>
      <LandBuildingsEquipmentBasis>61089978</LandBuildingsEquipmentBasis>
      <LandBldgEquipmentAccumDeprec>22509654</LandBldgEquipmentAccumDeprec>
      <LandBuildingsEquipmentBasisNet>
        <BOY>38725143</BOY>
        <EOY>38580324</EOY>
      </LandBuildingsEquipmentBasisNet>
      <InvestmentsPubTradedSecurities>
        <BOY>50339447</BOY>
        <EOY>62511654</EOY>
      </InvestmentsPubTradedSecurities>
      <IntangibleAssets>
        <BOY>294821</BOY>
        <EOY>281145</EOY>
      </IntangibleAssets>
      <TotalAssets>
        <BOY>104550837</BOY>
        <EOY>114674981</EOY>
      </TotalAssets>
      <AccountsPayableAccruedExpenses>
        <BOY>385095</BOY>
        <EOY>609195</EOY>
      </AccountsPayableAccruedExpenses>
      <DeferredRevenue>
        <BOY>2795422</BOY>
        <EOY>3973862</EOY>
      </DeferredRevenue>
      <TaxExemptBondLiabilities>
        <BOY>14000000</BOY>
        <EOY>13500000</EOY>
      </TaxExemptBondLiabilities>
      <OtherLiabilities>
        <BOY>838681</BOY>
        <EOY>1353456</EOY>
      </OtherLiabilities>
      <TotalLiabilities>
        <BOY>18019198</BOY>
        <EOY>19436513</EOY>
      </TotalLiabilities>
      <FollowSFAS117>X</FollowSFAS117>
      <UnrestrictedNetAssets>
        <BOY>30675831</BOY>
        <EOY>31576966</EOY>
      </UnrestrictedNetAssets>
      <TemporarilyRestrictedNetAssets>
        <BOY>37708645</BOY>
        <EOY>44348413</EOY>
      </TemporarilyRestrictedNetAssets>
      <PermanentlyRestrictedNetAssets>
        <BOY>18147163</BOY>
        <EOY>19313089</EOY>
      </PermanentlyRestrictedNetAssets>
      <TotalNetAssetsFundBalances>
        <BOY>86531639</BOY>
        <EOY>95238468</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>104550837</BOY>
        <EOY>114674981</EOY>
      </TotalLiabNetAssetsFundBalances>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>true</FSAudited>
      <AuditCommittee>true</AuditCommittee>
      <FinancialStatementSeparate>X</FinancialStatementSeparate>
      <FederalGrantAuditRequired>false</FederalGrantAuditRequired>
    </IRS990>
    <IRS990ScheduleA documentId="00000002" softwareId="09000048">
      <School170b1Aii>X</School170b1Aii>
      <PublicSupportTotal170>0</PublicSupportTotal170>
      <GrossInvestmentIncome170>
        <Total>0</Total>
      </GrossInvestmentIncome170>
      <PublicSupportPertcentage170>0</PublicSupportPertcentage170>
      <PublicSupportTotal509>0</PublicSupportTotal509>
      <PublicSupportPercentage509>0</PublicSupportPercentage509>
      <InvestmentIncomePercentage>0</InvestmentIncomePercentage>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="00000003">
      <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="00000004" softwareId="09000048">
      <CurrentYear>
        <BeginningOfYearBalance>56118588</BeginningOfYearBalance>
        <Contributions>1531056</Contributions>
        <InvestmentEarningsOrLosses>6507167</InvestmentEarningsOrLosses>
        <OtherExpenditures>2650000</OtherExpenditures>
        <EndOfYearBalance>61506811</EndOfYearBalance>
      </CurrentYear>
      <CurrentYearMinus1Year>
        <BeginningOfYearBalance>65655970</BeginningOfYearBalance>
        <Contributions>3467500</Contributions>
        <InvestmentEarningsOrLosses>-10284882</InvestmentEarningsOrLosses>
        <OtherExpenditures>2720000</OtherExpenditures>
        <EndOfYearBalance>56118588</EndOfYearBalance>
      </CurrentYearMinus1Year>
      <BoardDesignatedEOYBalance>0.06370</BoardDesignatedEOYBalance>
      <PermanentEndowmentEOYBalance>0.30400</PermanentEndowmentEOYBalance>
      <TermEndowmentEOYBalance>0.63230</TermEndowmentEOYBalance>
      <EndowmentsHeldByUnrelatedOrgs>false</EndowmentsHeldByUnrelatedOrgs>
      <EndowmentsHeldByRelatedOrgs>false</EndowmentsHeldByRelatedOrgs>
      <Land>
        <InvestmentCostOrOtherBasis>2512138</InvestmentCostOrOtherBasis>
        <BookValue>2512138</BookValue>
      </Land>
      <Buildings>
        <InvestmentCostOrOtherBasis>49701516</InvestmentCostOrOtherBasis>
        <Depreciation>15785639</Depreciation>
        <BookValue>33915877</BookValue>
      </Buildings>
      <Equipment>
        <InvestmentCostOrOtherBasis>3517249</InvestmentCostOrOtherBasis>
        <Depreciation>2732496</Depreciation>
        <BookValue>784753</BookValue>
      </Equipment>
      <OtherLandBuildings>
        <InvestmentCostOrOtherBasis>5359075</InvestmentCostOrOtherBasis>
        <Depreciation>3991519</Depreciation>
        <BookValue>1367556</BookValue>
      </OtherLandBuildings>
      <TotalOfBookValueLandBuildings>38580324</TotalOfBookValueLandBuildings>
      <OtherLiabilities>
        <Description>Obligation under interest rate swap</Description>
        <Amount>1353456</Amount>
      </OtherLiabilities>
      <TotalOfAmounts>1353456</TotalOfAmounts>
      <TotalRevenue>20361062</TotalRevenue>
      <TotalExpenses>15135371</TotalExpenses>
      <ExcessOrDeficitForYear>5225691</ExcessOrDeficitForYear>
      <NetUnrealizedGLOnInvestments>3970325</NetUnrealizedGLOnInvestments>
      <InvestmentExpenses>-489187</InvestmentExpenses>
      <TotalAdjustments>3481138</TotalAdjustments>
      <ExcessOrDeficitPerFS>8706829</ExcessOrDeficitPerFS>
      <TotRevenueEtcAuditedFinclStmt>23916337</TotRevenueEtcAuditedFinclStmt>
      <NetUnrealizedGainsInvestments>3481138</NetUnrealizedGainsInvestments>
      <OtherRevenues>74137</OtherRevenues>
      <RevenueNotRptdF990>3555275</RevenueNotRptdF990>
      <RevenueSubtotal>20361062</RevenueSubtotal>
      <TotalRevenuePerForm990>20361062</TotalRevenuePerForm990>
      <TotExpensesEtcAuditedFinclStmt>15209508</TotExpensesEtcAuditedFinclStmt>
      <OtherExpensesIncluded>74137</OtherExpensesIncluded>
      <ExpensesNotRptdF990>74137</ExpensesNotRptdF990>
      <ExpensesSubtotal>15135371</ExpensesSubtotal>
      <TotalExpensesPerForm990>15135371</TotalExpensesPerForm990>
      <Form990ScheduleDPartXIV>
        <Identifier>Pt V Line 4</Identifier>
        <Explanation>The School invests it's endowment funds to generate income</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
        <Explanation>and long term growth. The income of which is utilized in accordance with donor stipulations, if any, and support of the School's exempt activities. The appreciation is utilized in accordance with the School's spending policy.</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
        <Identifier>Pt X</Identifier>
        <Explanation>Uncertain Tax Provisions:</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
        <Explanation>UNCERTAINTY IN INCOME TAXES. THE STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTERPRISE'S FINANCIAL STATEMENTS AND PRESCRIBES A THRESHOLD OF MORE-LIKELY-THAN-NOT FOR RECOGNITION OF TAX BENEFITS OF UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE STANDARD ALSO PROVIDES RELATED GUIDANCE ON MEASUREMENT, DERECOGNITION, CLASSIFICATION, INTEREST, AND PENALTIES, AND DISCLOSURE. THE ADOPTION OF THIS STANDARD DID NOT HAVE AN IMPACT ON THE O</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
        <Identifier>Pt XII Line 2d</Identifier>
        <Explanation>Cost of Goods Sold-School Store - Total = $74,137</Explanation>
      </Form990ScheduleDPartXIV>
      <Form990ScheduleDPartXIV>
        <Identifier>Pt XIII Line 2d</Identifier>
        <Explanation>Cost of Goods Sold-School Store - Total = $74,137</Explanation>
      </Form990ScheduleDPartXIV>
    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="00000005" softwareId="09000048">
      <NondiscriminatoryPolicyStmt>true</NondiscriminatoryPolicyStmt>
      <PolicyStatementInBrochuresEtc>true</PolicyStatementInBrochuresEtc>
      <PolicyPublViaBroadcastMedia>true</PolicyPublViaBroadcastMedia>
      <PubViaBroadcastMediaExpln>A STATEMENT OF NONDISCRIMINATION WAS INCLUDED IN THE REGISTRATION FORM AND OTHER PROMOTIONAL MATERIAL.</PubViaBroadcastMediaExpln>
      <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>
    </IRS990ScheduleE>
    <IRS990ScheduleI documentId="00000006" softwareId="09000048">
      <RecordsMaintained>true</RecordsMaintained>
      <Form990ScheduleIPartIII>
        <TypeOfGrant>Financial Aid To Students</TypeOfGrant>
        <NumberOfRecipients>53</NumberOfRecipients>
        <AmountOfNonCashAssistance>1475894</AmountOfNonCashAssistance>
        <MethodOfValuation>FMV</MethodOfValuation>
        <DescriptionOfNonCashAssistance>Financial Aid</DescriptionOfNonCashAssistance>
      </Form990ScheduleIPartIII>
      <Form990ScheduleIPartIV>
        <Identifier>Pt I Line 2</Identifier>
        <Explanation>Students who qualify for admission to Eaglebrook School and whose families can demonstrate financial need may qualify for financial assistance. Financial assistance totaling $1,475,894 was awarded to a large number of students on a partial to full scholarship basis, depending on need.</Explanation>
      </Form990ScheduleIPartIV>
    </IRS990ScheduleI>
    <IRS990ScheduleJ documentId="00000007">
      <HousingAllowanceOrResidence>X</HousingAllowanceOrResidence>
      <WrittenPolicyReTAndEExpenses>true</WrittenPolicyReTAndEExpenses>
      <SubstantiationRequired>true</SubstantiationRequired>
      <CompensationCommittee>X</CompensationCommittee>
      <Form990OfOtherOrganizations>X</Form990OfOtherOrganizations>
      <WrittenEmploymentContract>X</WrittenEmploymentContract>
      <CompensationSurvey>X</CompensationSurvey>
      <BoardOrCommitteeApproval>X</BoardOrCommitteeApproval>
      <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>ANDREW CHASE</NamePerson>
        <BaseCompensationFilingOrg>187411</BaseCompensationFilingOrg>
        <DeferredCompFilingOrg>10385</DeferredCompFilingOrg>
        <NontaxableBenefitsFilingOrg>47375</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>245171</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>O STUART CHASE</NamePerson>
        <BaseCompensationFilingOrg>143315</BaseCompensationFilingOrg>
        <NontaxableBenefitsFilingOrg>11860</NontaxableBenefitsFilingOrg>
        <TotalCompensationFilingOrg>155175</TotalCompensationFilingOrg>
      </Form990ScheduleJPartII>
    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="00000008" softwareId="09000048">
      <Form990ScheduleKPartI>
        <IssuerName>
          <BusinessNameLine1>MASSACHUSETTS DEVELOPMENT FINANCE AGENCY</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>043431814</IssuerEIN>
        <CUSIPNumber>57583RML6</CUSIPNumber>
        <DateIssued>2007-05-31</DateIssued>
        <IssuePrice>15000000</IssuePrice>
        <DescriptionOfPurpose>Rehabilitation of Dormitories</DescriptionOfPurpose>
        <Defeased>false</Defeased>
        <OnBehalfOfIssuer>false</OnBehalfOfIssuer>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartII>
        <TotalProceeds>13500000</TotalProceeds>
        <IssuanceCostsFromProceeds>291743</IssuanceCostsFromProceeds>
        <YearOfSubstCompletion>2007</YearOfSubstCompletion>
        <CurrentRefunding>false</CurrentRefunding>
        <AdvanceRefunding>false</AdvanceRefunding>
        <FinalAllocationMade>true</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>true</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartIII>
        <OwningBondFinancedProperty>false</OwningBondFinancedProperty>
        <AnyLeaseArrangements>false</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>false</MngmentCntrctBondFinancdPrprty>
        <AnyResearchAgreements>false</AnyResearchAgreements>
        <BondCounselRoutinelyEngaged>true</BondCounselRoutinelyEngaged>
        <PrcntgePrvtBusinessUseByOthers>0.00000</PrcntgePrvtBusinessUseByOthers>
        <PercentageOfPrvtBusinessReUBI>0.00000</PercentageOfPrvtBusinessReUBI>
        <TotalPrivateBusinessUse>0.00000</TotalPrivateBusinessUse>
        <PostIssuanceComplianceProcdrs>true</PostIssuanceComplianceProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIV>
        <Form8038TFiled>false</Form8038TFiled>
        <VariableRateIssue>true</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>true</HedgeIdentifiedInBooksAndRecds>
        <NameOfHedgeProvider>
          <BusinessNameLine1>BANK OF AMERICA NA</BusinessNameLine1>
        </NameOfHedgeProvider>
        <TermOfHedge>0.06830000</TermOfHedge>
        <GrossProceedsInvestedInGIC>false</GrossProceedsInvestedInGIC>
        <GrossProceedsInvested>false</GrossProceedsInvested>
        <ExceptionToRebate>false</ExceptionToRebate>
      </Form990ScheduleKPartIV>
    </IRS990ScheduleK>
    <IRS990ScheduleO documentId="00000009" softwareId="09000048">
      <GeneralExplanation>
        <Identifier>Pt VI-A, Line 2</Identifier>
        <Explanation>The Development Coordinator is the Headmaster's Father.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Pt VI-B, Line 11A</Identifier>
        <Explanation>The Board of Trustees are notified once the Form 990</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>is completed and it is reviewed by the Audit Committee</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>and the Trustees. After the 990 has been reviewed and</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>approved by the Audit Committee and Trustees, the return</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>is submiteed to the IRS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Pt VI-B, Line 12c</Identifier>
        <Explanation>The School's Business Office follows up by collecting</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>annual acknowledgements by Trustees that they have</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>received and understand the conflict of interest</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>policy.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Pt VI-B, Line 15</Identifier>
        <Explanation>The Executive Committee determines the salaries of the Headmaster</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>and Officers by doing a comparison of salaries with</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>data collected from peer institutions. Reasonable and</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>competitive salaries are based on the data collected.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>Pt VI-C, Line 19</Identifier>
        <Explanation>All documents are available upon request and are on file</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Explanation>in the business office of the School.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
  </ReturnData>
</Return>