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      <AccountantCompileOrReview>false</AccountantCompileOrReview>
      <FSAudited>true</FSAudited>
      <AuditCommittee>true</AuditCommittee>
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      <EndowmentsHeldByRelatedOrgs>false</EndowmentsHeldByRelatedOrgs>
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        <Depreciation>327381</Depreciation>
        <BookValue>13302</BookValue>
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      <ExcessOrDeficitForYear>263757</ExcessOrDeficitForYear>
      <ExcessOrDeficitPerFS>263757</ExcessOrDeficitPerFS>
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      <CompBasedOnRevenueRelatedOrgs>false</CompBasedOnRevenueRelatedOrgs>
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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>UPON REQUEST, THESE DOCUMENTS ARE AVAILABLE FOR PUBLIC INSPECTION.</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 EXECUTIVE COMPENSATION IS REVIEWED AND ESTABLISHED ON AN ANNUAL BASIS. A NUMBER OF PERC DIRECTORS SIT ON OTHER NATIONAL NONPROFIT BOARD OF DIRECTORS AND HAVE AN ACCURATE ASSESSMENT OF CEO PAY FOR NONPROFIT FME LEADERS WHO HAVE SENIOR SCHOLAR STATUS. PERCS CEO'S ANNUAL PERFORMANCE IS REVIEWED BY THE BOARD AT THE WINTER BOARD MEETING AND ANY MERIT PAY APPROVED TIES DIRECTLY TO THE PERCENTAGE GIVEN TO THE PERC STAFF AT THEIR ANNUAL YEAR-END MERIT REVIEW.</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 BOARD OF DIRECTORS ESTABLISHED A GRIEVANCE COMMITTEE TO ESTABLISH A CORRIDOR AND ACCESS FOR PERC EMPLOYEES TO THE BOARD OF DIRECTOR SHOULD ANY CONFLICTS OF INTEREST ARISE. THE GRIEVANCE COMMITTEE CONSISTS OF 1 PERC EMPLOYEE AND 2 PERC DIRECTORS AND REPORTS AT EACH BOARD MEETING (TWICE A YEAR) TO THE ENTIRE BOARD. TO DATE THIS COMMITTEE HAS HAD NOTHING TO REPORT.</Explanation>
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      <GeneralExplanation>
        <Identifier>Form 990, Part VI, Line 11</Identifier>
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        <Explanation>A DRAFT COPY OF THE FORM 990 IS MAILED TO THE ENTIRE BOARD FOR APPROVAL PRIOR TO FILING.</Explanation>
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      <GeneralExplanation>
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        <ReturnReference>Form 990, Part VI, Line 2: Description of Business or Family Relationship of Officers, Directors, Et</ReturnReference>
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