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        <FormAndLineReferenceDesc>SCHEDULE E, LINE 3</FormAndLineReferenceDesc>
        <ExplanationTxt>THE NONDISCRIMINATORY POLICY IS PUBLISHED ON OUR WEBSITE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE E, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>THE SCHOOL RECEIVES MONTHLY AID PAYMENTS FROM THE STATE OF ARIZONA BASED ON THE NUMBER OF STUDENTS ENROLLED AND ATTENDING THE SCHOOL. THESE FUNDS ARE USED IN ACCORDANCE WITH THE REQUIREMENTS SET FORTH BY THE STATE OF ARIZONA.</ExplanationTxt>
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        <RebateNotDueYetInd>false</RebateNotDueYetInd>
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        <GrossProceedsInvestedInd>false</GrossProceedsInvestedInd>
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      <TaxExemptBondsArbitrageGrp>
        <BondReferenceCd>C</BondReferenceCd>
        <Form8038TFiledInd>false</Form8038TFiledInd>
        <RebateNotDueYetInd>false</RebateNotDueYetInd>
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        <NoRebateDueInd>false</NoRebateDueInd>
        <VariableRateIssueInd>false</VariableRateIssueInd>
        <HedgeIdentifiedInBksAndRecInd>false</HedgeIdentifiedInBksAndRecInd>
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        <GrossProceedsInvestedInd>false</GrossProceedsInvestedInd>
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      </TaxExemptBondsArbitrageGrp>
      <TaxExemptBondsArbitrageGrp>
        <BondReferenceCd>D</BondReferenceCd>
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        <ExceptionToRebateInd>false</ExceptionToRebateInd>
        <NoRebateDueInd>false</NoRebateDueInd>
        <VariableRateIssueInd>false</VariableRateIssueInd>
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        <GrossProceedsInvestedInGICInd>false</GrossProceedsInvestedInGICInd>
        <GrossProceedsInvestedInd>false</GrossProceedsInvestedInd>
        <WrittenProcToMonitorReqsInd>false</WrittenProcToMonitorReqsInd>
      </TaxExemptBondsArbitrageGrp>
      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <ProceduresCorrectiveActionInd>false</ProceduresCorrectiveActionInd>
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      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>B</BondReferenceCd>
        <ProceduresCorrectiveActionInd>false</ProceduresCorrectiveActionInd>
      </ProceduresCorrectiveActionGrp>
      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>C</BondReferenceCd>
        <ProceduresCorrectiveActionInd>false</ProceduresCorrectiveActionInd>
      </ProceduresCorrectiveActionGrp>
      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>D</BondReferenceCd>
        <ProceduresCorrectiveActionInd>false</ProceduresCorrectiveActionInd>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PURPOSE OF ISSUE DESCRIPTION</FormAndLineReferenceDesc>
        <ExplanationTxt>2018A EDUCATION REVENUE BONDS TO: (I) REFUND THE BONDS BEING REFUNDED; (II) FINANCE OR REFINANCE THE COST OF ACQUIRING APPROXIMATELY 9.9 ACRES OF LAND LOCATED AT 5757 WEST MCDOWELL ROAD IN PHOENIX, ARIZONA, AND CONSTRUCT, IMPROVE AND EQUIP APPROXIMATELY 69,000 SQUARE-FEET OF BUILDINGS ON THE PROPERTY (THE "AMSS DESERT SKY CAMPUS") FOR USE IN CONNECTION WITH THE OPERATION OF THE AMSS DESERT SKY SCHOOL; (III) PAY CAPITALIZED INTEREST ON THE BONDS; (IV) FUND ANY REQUIRED RESERVE FUNDS, INCLUDING A DEBT SERVICE RESERVE FUND, AND (V) PAY CERTAIN EXPENSES RELATING TO ISSUANCE OF THE BONDS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PURPOSE OF ISSUE DESCRIPTION</FormAndLineReferenceDesc>
        <ExplanationTxt>2018B EDUCATION REVENUE BONDS TO: (I) FINANCE AND REFINANCE, AS APPLICABLE, THE COSTS OF ACQUIRING, LEASING, CONSTRUCTING, RENOVATING, IMPROVING AND EQUIPPING, AS APPLICABLE, THE AMSS GLENDALE CAMPUS AND AMSS PEORIA ADVANCED CAMPUS; (II) TO FUND A DEBT SERVICE RESERVE FUND; AND (III) PAY COSTS OF ISSUANCE ASSOCIATED WITH THE BONDS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PURPOSE OF ISSUE DESCRIPTION</FormAndLineReferenceDesc>
        <ExplanationTxt>2019 EDUCATION REVENUE BONDS TO: (I) FINANCE AND REFINANCE, AS APPLICABLE, THE COSTS OF ACQUIRING, LEASING, CONSTRUCTING, RENOVATING, IMPROVING AND EQUIPPING, AS APPLICABLE, THE AMSS AVONDALE CAMPUS AND AMSS SOUTH MOUNTAIN CAMPUS; (II) TO FUND A DEBT SERVICE RESERVE FUND; AND (III) PAY COSTS OF ISSUANCE ASSOCIATED WITH THE BONDS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PURPOSE OF ISSUE DESCRIPTION</FormAndLineReferenceDesc>
        <ExplanationTxt>2022 EDUCATION REVENUE BONDS THE LOAN PROCEEDS ARE TO BE USED BY AMS FOR THE FOLLOWING PURPOSES: (I) FINANCE THE COST OF CONSTRUCTING, IMPROVING AND EQUIPPING ADDITIONS TO THE AMSS SOUTH MOUNTAIN CAMPUS, (II) REFUND A COMMERCIAL LOAN THAT WAS USED TO ACQUIRE, CONSTRUCT, RENOVATE, AND EQUIP THE ADMINISTRATIVE OFFICES USED AS AN ADMINISTRATIVE BUILDING FOR THE OBLIGATED GROUP (OG); (III) FINANCE THE COST OF FURNITURE, FIXTURES AND EQUIPMENT FOR USE IN ONE MORE OF THE OG'S EXISTING CHARTER SCHOOL FACILITIES; (IV) FUND A DEBT SERVICE RESERVE FUND FOR THE BONDS; AND (V) PAY THE COSTS OF ISSUANCE OF THE BONDS.</ExplanationTxt>
      </SupplementalInformationDetail>
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        <BondReferenceCd>A</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1Txt>2023 EDUCATION REVENUE BONDS</BusinessNameLine1Txt>
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        <BondIssuerEIN>813526584</BondIssuerEIN>
        <CUSIPNum>04052BSZ8</CUSIPNum>
        <BondIssuedDt>2023-01-01</BondIssuedDt>
        <IssuePriceAmt>15705000</IssuePriceAmt>
        <PurposeDesc>THE LOAN PROCEEDS ARE TO BE USED BY AMSS FOR THE FOLLOWING PURPOSES: (I) FINANCE THE COST OF CONSTRU</PurposeDesc>
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        <BondReferenceCd>A</BondReferenceCd>
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        <IssuanceCostsFromProceedsAmt>581175</IssuanceCostsFromProceedsAmt>
        <CapitalExpendituresAmt>11446528</CapitalExpendituresAmt>
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        <AdequateBooksAndRecMaintInd>true</AdequateBooksAndRecMaintInd>
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        <MgmtContractBondFincdPropInd>false</MgmtContractBondFincdPropInd>
        <AnyResearchAgreementsInd>false</AnyResearchAgreementsInd>
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        <BondReferenceCd>A</BondReferenceCd>
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        <BondReferenceCd>A</BondReferenceCd>
        <ProceduresCorrectiveActionInd>false</ProceduresCorrectiveActionInd>
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        <FormAndLineReferenceDesc>PURPOSE OF ISSUE DESCRIPTION</FormAndLineReferenceDesc>
        <ExplanationTxt>2023 EDUCATION REVENUE BONDS THE LOAN PROCEEDS ARE TO BE USED BY AMSS FOR THE FOLLOWING PURPOSES: (I) FINANCE THE COST OF CONSTRUCTING, IMPROVING AND EQUIPPING ADDITIONS TO THE AMSS PEORIA ADVANCED CAMPUS, (II) FINANCE THE COST OF FURNITURE, FIXTURES AND EQUIPMENT FOR USE IN ONE MORE OF THE OG'S EXISTING CHARTER SCHOOL FACILITIES;(III) FUND A DEBT SERVICE RESERVE FUND FOR THE BONDS; AND (IV) PAY THE COSTS OF ISSUANCE OF THE BONDS.</ExplanationTxt>
      </SupplementalInformationDetail>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990 - ORGANIZATION'S MISSION</FormAndLineReferenceDesc>
        <ExplanationTxt>WE WILL MOTIVATE AND INSPIRE STUDENTS FOR ACADEMIC, CAREER, AND LIFE SUCCESS THROUGH PROVIDING AN ADVANCED, WELL-ROUNDED, COLLEGE PREPARATORY EDUCATION INTERLACED WITH HABITS OF MIND, CHARACTER BUILDING, AND 21ST CENTURY SKILLS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 1, PART I, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>THE VOLUNTEERS HELP IN THE CLASSROOMS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 3</FormAndLineReferenceDesc>
        <ExplanationTxt>MANAGEMENT DUTIES ARE DELEGATED TO AMS IMPACT GROUP, WHICH IS A RELATED PARTY.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE 990 IS REVIEWED BY THE EXECUTIVE DIRECTOR AND THE BOARD OF DIRECTORS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>ALL CONFLICTS ARE DISCLOSED BY EACH BOARD MEMBER IN AN ACKNOWLEDGEMENT AND AGREEMENT FORM AT LEAST ANNUALLY. IF A CONFLICT EXISTS, THAT BOARD MEMBER IS EXCLUDED FROM THE DECISION MAKING PROCESS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 15A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION USES COMPARATIVE DATA TO DETERMINE COMPENSATION AND THE COMPENSATION IS APPROVED BY THE BOARD.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 15B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION USES COMPARATIVE DATA TO DETERMINE COMPENSATION AND THE COMPENSATION IS APPROVED BY THE BOARD.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>AVAILABLE UPON REQUEST AT THE ADMIN OFFICE.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
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          <BusinessNameLine1Txt>ACADEMY OF MATHEMATICS AND SCIENCE</BusinessNameLine1Txt>
        </DisregardedEntityName>
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          <AddressLine1Txt>2980 N CAMPBELL AVE SUITE 130</AddressLine1Txt>
          <CityNm>TUCSON</CityNm>
          <StateAbbreviationCd>AZ</StateAbbreviationCd>
          <ZIPCd>85719</ZIPCd>
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          <AddressLine1Txt>2980 N CAMPBELL AVE SUITE 130</AddressLine1Txt>
          <CityNm>TUCSON</CityNm>
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          <ZIPCd>85719</ZIPCd>
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      <GiftGrntCapContriFromOthOrgInd>false</GiftGrntCapContriFromOthOrgInd>
      <LoansOrGuaranteesToOtherOrgInd>false</LoansOrGuaranteesToOtherOrgInd>
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      <ReimbursementPaidToOtherOrgInd>false</ReimbursementPaidToOtherOrgInd>
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      <TransferToOtherOrgInd>false</TransferToOtherOrgInd>
      <TransferFromOtherOrgInd>false</TransferFromOtherOrgInd>
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</Return>