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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>JANICE MIN</PersonNm>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>HANNAH MINGHELLA</PersonNm>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>MELISSA RAWLINS</PersonNm>
        <TitleTxt>TRUSTEE</TitleTxt>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>MITZI REAUGH</PersonNm>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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        <PersonNm>BRIAN ROSENSTEIN</PersonNm>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>PERRY WALLACK</PersonNm>
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      <Form990PartVIISectionAGrp>
        <PersonNm>ELIZABETH ENGLISH</PersonNm>
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      <Form990PartVIISectionAGrp>
        <PersonNm>JANE PAQUET DAVIS</PersonNm>
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        <OtherCompensationAmt>36116</OtherCompensationAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>KAREN PAVLISCAK</PersonNm>
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      <Form990PartVIISectionAGrp>
        <PersonNm>GARY FARLEY</PersonNm>
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        <OtherCompensationAmt>26665</OtherCompensationAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>JOHN CHEN</PersonNm>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>FELICIA PAIK</PersonNm>
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        <PersonNm>SARAH ROONEY</PersonNm>
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          <BusinessName>
            <BusinessNameLine1Txt>FIRST STUDENT INC</BusinessNameLine1Txt>
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        <ContractorAddress>
          <USAddress>
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      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>CULINART GROUP INC</BusinessNameLine1Txt>
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        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>PO BOX 50196</AddressLine1Txt>
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          </USAddress>
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      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>SAJAHTERA INC DBA THE BEVERLY HILLS HO</BusinessNameLine1Txt>
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          <USAddress>
            <AddressLine1Txt>9641 SUNSET BOULEVARD</AddressLine1Txt>
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      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>TOP TRANSPORTATION SERVICE INC</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>PO BOX 34314</AddressLine1Txt>
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        </ContractorAddress>
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      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>LAKELAND HOLDINGS LLC DBA WORLDSTRIDES I</BusinessNameLine1Txt>
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        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>218 WEST WATER STREET</AddressLine1Txt>
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            <StateAbbreviationCd>VA</StateAbbreviationCd>
            <ZIPCd>22902</ZIPCd>
          </USAddress>
        </ContractorAddress>
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      <FundraisingAmt>328727</FundraisingAmt>
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      <NoncashContributionsAmt>121456</NoncashContributionsAmt>
      <TotalContributionsAmt>5525848</TotalContributionsAmt>
      <ProgramServiceRevenueGrp>
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        <BusinessCd>611600</BusinessCd>
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        <RelatedOrExemptFuncIncomeAmt>27761878</RelatedOrExemptFuncIncomeAmt>
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      <ProgramServiceRevenueGrp>
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        <RelatedOrExemptFuncIncomeAmt>838827</RelatedOrExemptFuncIncomeAmt>
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        <TotalRevenueColumnAmt>1319360</TotalRevenueColumnAmt>
        <ExclusionAmt>1319360</ExclusionAmt>
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        <SecuritiesAmt>391348</SecuritiesAmt>
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        <SecuritiesAmt>-8029</SecuritiesAmt>
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      <NetGainOrLossInvestmentsGrp>
        <TotalRevenueColumnAmt>-8029</TotalRevenueColumnAmt>
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        <ExclusionAmt>174770</ExclusionAmt>
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        <ExclusionAmt>2105</ExclusionAmt>
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        <Desc>MISCELLANEOUS INCOME</Desc>
        <BusinessCd>611710</BusinessCd>
        <TotalRevenueColumnAmt>109802</TotalRevenueColumnAmt>
        <ExclusionAmt>109802</ExclusionAmt>
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      <OtherRevenueMiscGrp>
        <Desc>PARENT ASSOCIATION</Desc>
        <BusinessCd>611600</BusinessCd>
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        <ExclusionAmt>54255</ExclusionAmt>
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      <TotalRevenueGrp>
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        <ProgramServicesAmt>3643355</ProgramServicesAmt>
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        <ProgramServicesAmt>466539</ProgramServicesAmt>
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        <ProgramServicesAmt>10515391</ProgramServicesAmt>
        <ManagementAndGeneralAmt>1229507</ManagementAndGeneralAmt>
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        <ProgramServicesAmt>832968</ProgramServicesAmt>
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        <FundraisingAmt>76789</FundraisingAmt>
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        <ManagementAndGeneralAmt>34855</ManagementAndGeneralAmt>
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      <FeesForServicesProfFundraising>
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        <FundraisingAmt>40</FundraisingAmt>
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      <FeesForSrvcInvstMgmntFeesGrp>
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        <ManagementAndGeneralAmt>98093</ManagementAndGeneralAmt>
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        <ProgramServicesAmt>9055</ProgramServicesAmt>
        <ManagementAndGeneralAmt>4320</ManagementAndGeneralAmt>
        <FundraisingAmt>635</FundraisingAmt>
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        <ProgramServicesAmt>55114</ProgramServicesAmt>
        <ManagementAndGeneralAmt>24821</ManagementAndGeneralAmt>
        <FundraisingAmt>3649</FundraisingAmt>
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        <ProgramServicesAmt>1509790</ProgramServicesAmt>
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        <Desc>ALL OTHER EXPENSES</Desc>
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        <ProgramServicesAmt>886571</ProgramServicesAmt>
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        <ManagementAndGeneralAmt>725999</ManagementAndGeneralAmt>
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        <ProgramServicesAmt>457956</ProgramServicesAmt>
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        <ProgramServicesAmt>25852059</ProgramServicesAmt>
        <ManagementAndGeneralAmt>4024879</ManagementAndGeneralAmt>
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        <EOYAmt>2973513</EOYAmt>
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        <EOYAmt>17837068</EOYAmt>
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        <EOYAmt>4097804</EOYAmt>
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        <EOYAmt>378599</EOYAmt>
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        <EOYAmt>69416437</EOYAmt>
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        <EOYAmt>204506</EOYAmt>
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        <EOYAmt>9194266</EOYAmt>
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      <TotalAssetsGrp>
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        <EOYAmt>130296462</EOYAmt>
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        <EOYAmt>3113465</EOYAmt>
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        <EOYAmt>25529276</EOYAmt>
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        <EOYAmt>3650000</EOYAmt>
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        <EOYAmt>393191</EOYAmt>
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        <EOYAmt>56795017</EOYAmt>
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        <EOYAmt>52423360</EOYAmt>
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      <DonorRestrictionNetAssetsGrp>
        <BOYAmt>17672954</BOYAmt>
        <EOYAmt>21078085</EOYAmt>
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        <BOYAmt>67966679</BOYAmt>
        <EOYAmt>73501445</EOYAmt>
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      <TotLiabNetAssetsFundBalanceGrp>
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        <EOYAmt>130296462</EOYAmt>
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          <AddressLine2>RESTRICTED</AddressLine2>
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        <ExplanationTxt>THE SCHOOL IS A QUALIFIED ORGANIZATION EXEMPT FROM FEDERAL INCOME AND CALIFORNIA FRANCHISE TAXES UNDER THE PROVISIONS OF SECTIONS 501(C)(3) OF THE INTERNAL REVENUE CODE AND 23701D OF THE CALIFORNIA REVENUE AND TAXATION CODE, RESPECTIVELY. MANAGEMENT HAS CONSIDERED ITS TAX POSITIONS AND BELIEVES ALL OF THE POSITIONS TAKEN BY THE SCHOOL ARE MORE LIKELY THAN NOT TO BE SUSTAINED UPON EXAMINATION. THE SCHOOL HAS EVALUATED ITS CURRENT TAX POSITIONS AND HAS CONCLUDED THAT AS OF JUNE 30, 2025, THE SCHOOL DOES NOT HAVE ANY SIGNIFICANT UNCERTAIN TAX POSITIONS FOR WHICH A RESERVE WOULD BE NECESSARY.</ExplanationTxt>
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        <PersonNm>JOHN CHEN</PersonNm>
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        <PersonNm>FELICIA PAIK</PersonNm>
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        <FormAndLineReferenceDesc>PART I, LINE 1A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE SCHOOL PROVIDES THE HEAD OF SCHOOL A DISCRETIONARY BUDGET FOR SCHOOL-RELATED EXPENSES. ALL EXPENSES RUN THROUGH THE NORMAL EXPENSE PROCESS AND REQUIRE THE APPROPRIATE SUBSTANTIATION. DUE TO SCHOOL DEMANDS BEYOND THE SCOPE OF NORMAL OPERATING HOURS, THE HEAD OF SCHOOL IS PROVIDED ON-CAMPUS HOUSING. THE FAIR MARKET VALUE OF THE HOUSING PROVIDED TO THE HEAD OF SCHOOL IS $126,000 FOR THE 2024 CALENDAR YEAR. THE HOUSING IS TAKEN AS AN EXCLUSION UNDER CODE SECTION 119(B) AND IS INCLUDED IN NONTAXABLE BENEFITS SHOWN ON PART VII, SECTION A, COLUMN (F), AND SCHEDULE J, PART II, COLUMN (D).</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINES 4A-B</FormAndLineReferenceDesc>
        <ExplanationTxt>KAREN PAVLISCAK, ASSOCIATE HEAD OF SCHOOL FOR TEACHING AND LEARNING, RECEIVED A SEVERANCE PAYMENT OF $67,015.78. $100,000 WAS ACCRUED FOR THE HEAD OF SCHOOL, ELIZABETH ENGLISH'S 457(F) PLAN, WHICH IS INCLUDED IN SCHEDULE J, PART II, COLUMN C.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 7</FormAndLineReferenceDesc>
        <ExplanationTxt>BONUSES FOR EMPLOYEE WERE DECIDED BY THE HEAD OF SCHOOL AND ARE A REFLECTION OF THOSE INDIVIDUALS HAVING MET CERTAIN GOALS. BONUSES FOR OTHER PERSONS LISTED ON PART VII ARE AS FOLLOWS: - JANE DAVIS, ASSOCIATE HEAD OF SCHOOL, $30,000.00. - KAREN PAVLISCAK, ASSOCIATE HEAD OF SCHOOL FOR TEACHING AND LEARNING, $25,000.00.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="RetDoc1053100001">
      <TaxExemptBondsIssuesGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1Txt>CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK</BusinessNameLine1Txt>
        </IssuerName>
        <BondIssuerEIN>630304653</BondIssuerEIN>
        <BondIssuedDt>2018-02-07</BondIssuedDt>
        <IssuePriceAmt>27860000</IssuePriceAmt>
        <PurposeDesc>TO FINANCE CAPITAL PROJECTS AND TO PAY COSTS OF ISSUANCE</PurposeDesc>
        <DefeasedInd>0</DefeasedInd>
        <OnBehalfOfIssuerInd>0</OnBehalfOfIssuerInd>
        <PoolFinancingInd>0</PoolFinancingInd>
      </TaxExemptBondsIssuesGrp>
      <TaxExemptBondsProceedsGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <RetiredAmt>3335673</RetiredAmt>
        <TotalProceedsAmt>27860000</TotalProceedsAmt>
        <CapitalExpendituresAmt>12751135</CapitalExpendituresAmt>
        <OtherSpentProceedsAmt>15108865</OtherSpentProceedsAmt>
        <SubstantialCompletionYr>2019</SubstantialCompletionYr>
        <RefundingTaxExemptBondsInd>1</RefundingTaxExemptBondsInd>
        <RefundingTaxableBondsInd>1</RefundingTaxableBondsInd>
        <FinalAllocationMadeInd>1</FinalAllocationMadeInd>
        <AdequateBooksAndRecMaintInd>1</AdequateBooksAndRecMaintInd>
      </TaxExemptBondsProceedsGrp>
      <TaxExemptBondsPrivateBusUseGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <OwningBondFinancedPropertyInd>0</OwningBondFinancedPropertyInd>
        <AnyLeaseArrangementsInd>0</AnyLeaseArrangementsInd>
        <MgmtContractBondFincdPropInd>0</MgmtContractBondFincdPropInd>
        <AnyResearchAgreementsInd>0</AnyResearchAgreementsInd>
        <BondIssMeetPrvtSecPymtTestInd>0</BondIssMeetPrvtSecPymtTestInd>
        <ChangeInUseBondFinancedPropInd>0</ChangeInUseBondFinancedPropInd>
        <ProcsNonqualifiedBondRemdtdInd>1</ProcsNonqualifiedBondRemdtdInd>
      </TaxExemptBondsPrivateBusUseGrp>
      <TaxExemptBondsArbitrageGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <Form8038TFiledInd>0</Form8038TFiledInd>
        <RebateNotDueYetInd>0</RebateNotDueYetInd>
        <ExceptionToRebateInd>0</ExceptionToRebateInd>
        <NoRebateDueInd>1</NoRebateDueInd>
        <VariableRateIssueInd>1</VariableRateIssueInd>
        <HedgeIdentifiedInBksAndRecInd>0</HedgeIdentifiedInBksAndRecInd>
        <GrossProceedsInvestedInGICInd>0</GrossProceedsInvestedInGICInd>
        <GrossProceedsInvestedInd>0</GrossProceedsInvestedInd>
        <WrittenProcToMonitorReqsInd>1</WrittenProcToMonitorReqsInd>
      </TaxExemptBondsArbitrageGrp>
      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <ProceduresCorrectiveActionInd>1</ProceduresCorrectiveActionInd>
      </ProceduresCorrectiveActionGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>DATE REBATE COMPUTATION PERFORMED</FormAndLineReferenceDesc>
        <ExplanationTxt>ISSUER NAME: CALIFORNIA INFRASTRUCTURE AND ECONOMIC DEVELOPMENT BANK DATE THE REBATE COMPUTATION WAS PERFORMED: 10/23/2023</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleK>
    <IRS990ScheduleM documentId="RetDoc1042900001">
      <SecuritiesPubliclyTradedGrp>
        <NonCashCheckboxInd>X</NonCashCheckboxInd>
        <ContributionCnt>13</ContributionCnt>
        <NoncashContributionsRptF990Amt>121456</NoncashContributionsRptF990Amt>
        <MethodOfDeterminingRevenuesTxt>PUBLICLY TRADED EXCHANGE</MethodOfDeterminingRevenuesTxt>
      </SecuritiesPubliclyTradedGrp>
      <Form8283ReceivedCnt>13</Form8283ReceivedCnt>
      <AnyPropertyThatMustBeHeldInd>0</AnyPropertyThatMustBeHeldInd>
      <ReviewProcessUnusualNCGiftsInd>1</ReviewProcessUnusualNCGiftsInd>
      <ThirdPartiesUsedInd>0</ThirdPartiesUsedInd>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, COLUMN (B):</FormAndLineReferenceDesc>
        <ExplanationTxt>THE NUMBER REPRESENTS THE NUMBER OF CONTRIBUTORS, NOT THE NUMBER OF ITEMS CONTRIBUTED.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>ALL TRUSTEES WILL BE PROVIDED A COPY OF THE FORM 990 BEFORE IT IS FILED.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>EACH BOARD OF TRUSTEE MEMBER AND OFFICER IS PROVIDED WITH A COPY OF THE POLICY ANNUALLY AND IS REQUIRED TO AFFIRM THEIR COMPLIANCE AND DISCLOSE ANY EXISTING CONFLICTS OF INTEREST AT THAT TIME. MEMBERS MUST PROMPTLY NOTIFY MANAGEMENT IF ANY CONFLICTS ARISE OR IF THEIR COMPLIANCE STATUS CHANGES DURING THE YEAR. ANY TRUSTEE INVOLVED IN A POTENTIAL CONFLICT OF INTEREST IS PROHIBITED FROM VOTING ON MATTERS RELATED TO THAT CONFLICT.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15</FormAndLineReferenceDesc>
        <ExplanationTxt>ALL SALARIES ARE BENCHMARKED AGAINST COMPARABLE POSITIONS AT PEER SCHOOLS AND TAKE INTO ACCOUNT RELEVANT EMPLOYMENT HISTORY AND EDUCATIONAL BACKGROUND. COMPENSATION FOR THE HEAD OF SCHOOL IS RECOMMENDED BY AN INDEPENDENT CONSULTANT AND SUBSEQUENTLY REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES AND THE ORGANIZATION'S EMPLOYMENT ATTORNEY. SALARIES FOR MANAGEMENT POSITIONS ARE REVIEWED AND APPROVED BY THE HEAD OF SCHOOL UPON COMPLETION OF THE BENCHMARKING PROCESS. ALL BENCHMARKING DATA IS DOCUMENTED, DELIBERATIONS ARE RECORDED, AND EMPLOYMENT AGREEMENTS ARE SIGNED BY BOTH THE HEAD OF SCHOOL AND THE EMPLOYEE. THE PROCESS DESCRIBED ABOVE WAS MOST RECENTLY COMPLETED IN 2025.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>BYLAWS, CONFLICT OF INTEREST POLICIES, FINANCIAL STATEMENTS, AND ALL OTHER POLICY DOCUMENTS ARE AVAILABLE FROM THE BUSINESS OFFICE UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>