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      <FootnoteTextInd>X</FootnoteTextInd>
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        <FormAndLineReferenceDesc>Part V, Line 4: Intended uses of the endowment fund.</FormAndLineReferenceDesc>
        <ExplanationTxt>ENDOWMENT FUNDS AT RANCHO SANTE FE FOUNDATION ARE BEING HELD FOR THE TEACHER'S ENDOWMENT FUND TO SUPPORT EFFORTS TO ATTRACT, RETAIN, DEVELOP, EDUCATE, AND SUPPORT THE FACULTY. OUR LOEWY-LINZ STEM CHAIR ENDOWMENT HELPS US ATTRACT, RETAIN AND SUPPORT OUR STEM CHAIR AND FACULTY. THE ACCESS TO GRAUER ENDOWMENT FUND PERMANENTLY INCREASES ACCESS FOR STUDENTS IN OUR COMMUNITY. A STRONG ENDOWMENT MEANS A STUDENT BODY THAT IS INTELLECTUALLY, SOCIALLY, CREATIVELY AND CULTURALLY INCLUSIVE - LONG INTO THE FUTURE.THE MAINTENANCE ENDOWMENT IS USED TO OFFSET COSTS TO MAINTAIN THE CAMPUS AND HOUSING FACILITY.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part X : FIN48 Footnote</FormAndLineReferenceDesc>
        <ExplanationTxt>The School is exempt from federal income tax under the provisions of Section 501(c)(3) of the Internal Revenue Code and is also exempt from state income taxes. The Financial Accounting Standards Board (FASB) issued Accounting Standards Codification No. 740-10, Accounting for Uncertainties in Income Tax, which sets a minimum threshold for financial statement recognition of the benefit of a tax position taken or expected to be taken in a tax return. The School has reviewed its positions for all open tax years and has determined that it has no uncertain tax positions requiring accrual or disclosure.</ExplanationTxt>
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        <FormAndLineReferenceDesc>Schedule E, Line 3 - Racially Nondiscriminatory Policy Publicized</FormAndLineReferenceDesc>
        <ExplanationTxt>THE GRAUER SCHOOL VALUES ITS RICH DIVERSITY AND DOES NOT DISCRIMINATE IN ITS ADMISSION POLICIES, ACTIVITIES, ACADEMIC, ATHLETIC AND OTHER SCHOOL ADMINISTERED PROGRAMS, OR TUITION ASSISTANCE PROGRAMS ON THE BASIS OF RACE, COLOR, CREED, NATIONAL OR ETHNIC ORIGIN, AGE, RELIGION, SEXUAL ORIENTATION, OR DISABILITY IN ACCORDANCE WITH EXISTING STATE OR FEDERAL LAW OR REGULATIONS.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Schedule E, Line 4 - Explanation of Records and Materials Not Maintained</FormAndLineReferenceDesc>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Schedule E, Line 5 - Explanation of Organization Discrimination by Race</FormAndLineReferenceDesc>
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      <AccountActivitiesOutsideUSGrp>
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      <AccountActivitiesOutsideUSGrp>
        <RegionTxt>AFRICA</RegionTxt>
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      <InterestInForeignTrustInd>false</InterestInForeignTrustInd>
      <ForeignCorpOwnershipInd>false</ForeignCorpOwnershipInd>
      <PassiveForeignInvestmestCoInd>false</PassiveForeignInvestmestCoInd>
      <ForeignPartnershipInd>false</ForeignPartnershipInd>
      <BoycottCountriesInd>false</BoycottCountriesInd>
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      <EmailSolicitationsInd>X</EmailSolicitationsInd>
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      <SpecialFundraisingEventsInd>X</SpecialFundraisingEventsInd>
      <AgrmtProfFundraisingActyInd>false</AgrmtProfFundraisingActyInd>
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        <CharitableContriEvent1Amt>220870</CharitableContriEvent1Amt>
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        <CharitableContributionsTotAmt>220870</CharitableContributionsTotAmt>
        <GrossRevenueTotalEventsAmt>16550</GrossRevenueTotalEventsAmt>
        <OthDirectExpnssTotalEventsAmt>60444</OthDirectExpnssTotalEventsAmt>
        <DirectExpenseSummaryEventsAmt>60444</DirectExpenseSummaryEventsAmt>
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        <GrantTypeTxt>SCHOLARSHIPS &amp; FINANCIAL AID</GrantTypeTxt>
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        <ValuationMethodUsedDesc>N/A</ValuationMethodUsedDesc>
        <NonCashAssistanceDesc>N/A</NonCashAssistanceDesc>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Grantmaker's Description of How Grants are Used</FormAndLineReferenceDesc>
        <ExplanationTxt>THE GRAUER SCHOOL DOES MAINTAIN RECORDS TO SUBSTANTIATE THE AMOUNT OF THE SCHOLARSHIPS AND FINANCIAL AID AWARDED. THIS INFORMATION IS DOCUMENTED IN OUR SCHOOL AND STUDENT SERVICES (SSS) ACCOUNT. THE PARAMETERS FOR AN AWARD ARE PRESET BY THE GRAUER SCHOOL. AFTER APPLICATIONS ARE COMPLETE, SSS MAKES AN INITIAL DETERMINATION. THE HEAD OF SCHOOL AND Admissions Officer REVIEW THESE INITIAL DETERMINATIONS AND THEN MAY ALTER THE AWARD BASED ON FACTORS THAT MAY NOT HAVE BEEN ENTERED BY THE FAMILY IN THE SSS DATABASE. THESE FINDINGS ARE THEN DOCUMENTED IN THE COMMENTS FIELD OF THE SSS DATABASE. FOLLOWING ARE THE BASIC PARAMETERS:A. STUDENT GPA SET AT 3.5.B. STUDENT MUST SHOW COMMUNITY SERVICE BACKGROUND.C. LIVING ALLOWANCE: $27,520D. ALLOWANCE PER CHILD $3,500E. HOUSING CAP $50,000F. UTILITIES $6,000G. AUTO INS $2,600H. LIFE INSURANCE $1,500 I. NET WORTH CAP $200,000 (INCLUDES RETIREMENT AND HOME EQUITY)J. WE GET CAUTION FLAGS IF REAL ESTATE IS GREATER THAN $1,000,000.K. WE CAP AWARDS AT 50% OF TUITION.L. FAMILIES MUST SUBMIT CURRENT TAX RETURNS AND W2'S.M. CA cost of living adjustment (1.447)</ExplanationTxt>
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      <IndependentConsultantInd>X</IndependentConsultantInd>
      <WrittenEmploymentContractInd>X</WrittenEmploymentContractInd>
      <BoardOrCommitteeApprovalInd>X</BoardOrCommitteeApprovalInd>
      <SeverancePaymentInd>false</SeverancePaymentInd>
      <SupplementalNonqualRtrPlanInd>true</SupplementalNonqualRtrPlanInd>
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      <CompBasedOnRevenueOfFlngOrgInd>false</CompBasedOnRevenueOfFlngOrgInd>
      <CompBsdOnRevRelatedOrgsInd>false</CompBsdOnRevRelatedOrgsInd>
      <CompBsdNetEarnsFlngOrgInd>false</CompBsdNetEarnsFlngOrgInd>
      <CompBsdNetEarnsRltdOrgsInd>false</CompBsdNetEarnsRltdOrgsInd>
      <AnyNonFixedPaymentsInd>false</AnyNonFixedPaymentsInd>
      <InitialContractExceptionInd>false</InitialContractExceptionInd>
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        <PersonNm>DANA ABPLANALP</PersonNm>
        <TitleTxt>HEAD OF SCHOOL</TitleTxt>
        <BaseCompensationFilingOrgAmt>199361</BaseCompensationFilingOrgAmt>
        <NontaxableBenefitsFilingOrgAmt>15343</NontaxableBenefitsFilingOrgAmt>
        <TotalCompensationFilingOrgAmt>214704</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>DR STUART GRAUER</PersonNm>
        <TitleTxt>HOS EMERITUS</TitleTxt>
        <BaseCompensationFilingOrgAmt>239582</BaseCompensationFilingOrgAmt>
        <NontaxableBenefitsFilingOrgAmt>43828</NontaxableBenefitsFilingOrgAmt>
        <TotalCompensationFilingOrgAmt>283410</TotalCompensationFilingOrgAmt>
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      <TaxExemptBondsIssuesGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1Txt>ABAG FINANCE AUTHORITY</BusinessNameLine1Txt>
        </IssuerName>
        <BondIssuerEIN>943130123</BondIssuerEIN>
        <CUSIPNum>00037CGY0</CUSIPNum>
        <BondIssuedDt>2006-01-19</BondIssuedDt>
        <IssuePriceAmt>4000000</IssuePriceAmt>
        <PurposeDesc>CAPITAL EXPENDITURES</PurposeDesc>
        <DefeasedInd>false</DefeasedInd>
        <OnBehalfOfIssuerInd>false</OnBehalfOfIssuerInd>
        <PoolFinancingInd>false</PoolFinancingInd>
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      <TaxExemptBondsProceedsGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <RetiredAmt>2720000</RetiredAmt>
        <TotalProceedsAmt>4000000</TotalProceedsAmt>
        <IssuanceCostsFromProceedsAmt>80000</IssuanceCostsFromProceedsAmt>
        <CapitalExpendituresAmt>3920000</CapitalExpendituresAmt>
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        <RefundingTaxableBondsInd>false</RefundingTaxableBondsInd>
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        <AdequateBooksAndRecMaintInd>true</AdequateBooksAndRecMaintInd>
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        <BondReferenceCd>A</BondReferenceCd>
        <OwningBondFinancedPropertyInd>false</OwningBondFinancedPropertyInd>
        <AnyLeaseArrangementsInd>false</AnyLeaseArrangementsInd>
        <MgmtContractBondFincdPropInd>true</MgmtContractBondFincdPropInd>
        <EngageBondCounselContractsInd>true</EngageBondCounselContractsInd>
        <AnyResearchAgreementsInd>false</AnyResearchAgreementsInd>
        <BondIssMeetPrvtSecPymtTestInd>false</BondIssMeetPrvtSecPymtTestInd>
        <ChangeInUseBondFinancedPropInd>false</ChangeInUseBondFinancedPropInd>
        <ProcsNonqualifiedBondRemdtdInd>false</ProcsNonqualifiedBondRemdtdInd>
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        <BondReferenceCd>A</BondReferenceCd>
        <Form8038TFiledInd>false</Form8038TFiledInd>
        <NoRebateDueInd>true</NoRebateDueInd>
        <HedgeIdentifiedInBksAndRecInd>false</HedgeIdentifiedInBksAndRecInd>
        <GrossProceedsInvestedInGICInd>false</GrossProceedsInvestedInGICInd>
        <WrittenProcToMonitorReqsInd>false</WrittenProcToMonitorReqsInd>
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      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <ProceduresCorrectiveActionInd>false</ProceduresCorrectiveActionInd>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section B, Line 11b</FormAndLineReferenceDesc>
        <ExplanationTxt>THE 990 IS REVIEWED BY THE FOUNDER/PRESIDENT, CONTROLLER, FINANCE CHAIR AND CHAIRMAN OF THE BOARD AND IS MADE AVAILABLE TO ALL BOARD MEMBERS PRIOR TO FILING.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section B, Line 12c</FormAndLineReferenceDesc>
        <ExplanationTxt>WE ANNUALLY ASK THE BOARD MEMBERS TO SIGN A CONFLICT OF INTEREST POLICY AND DISCLOSE ANY CONFLICTS. THE POLICY IS REVIEWED ANNUALLY AND BOARD MEMBERS ARE ASKED TO RECUSE THEMSELVES FROM VOTES WHERE THERE MAY BE A POTENTIAL CONFLICT.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section B, Line 15a</FormAndLineReferenceDesc>
        <ExplanationTxt>THE HEADMASTER SALARY IS CALCULATED BASED OFF OF NAIS (NATIONAL ASSOCIATION OF INDEPENDENT SCHOOLS) DATA. IT IS ANALYZED AND APPROVED BY THE CHARIMAN OF THE BOARD.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section C, Line 19</FormAndLineReferenceDesc>
        <ExplanationTxt>GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part I line 5 and Part V line 2a</FormAndLineReferenceDesc>
        <ExplanationTxt>THE GRAUER FOUNDATION FOR EDUCATION HAS A CO-EMPLOYER AGREEMENT WITH AN OUTSIDE PAYROLL COMPANY. THE EMPLOYEE COST HAVE BEEN SHOWN AS SALARIES AND BENEFITS, HOWEVER DUE TO THE OUTSIDE PAYROLL COMPANY FILING THE REQUIRED PAYROLL RETURNS, A NUMBER OF EMPLOYEES HAS NOT BEEN INCLUDED PART I LINE 5 AND PART V LINE 2A. EMPLOYEES WORKING AT THE SCHOOL ARE EMPLOYED BY INSPERITY AND PARTICIPATE IN EMPLOYEE BENEFIT PLANS AVAILABLE TO INSPERITY EMPLOYEES. INSPERITY BILLS THE SCHOOL FOR PAYROLL AND BENEFITS PAID FOR EMPLOYEES WORKING AT THE SCHOOL.</ExplanationTxt>
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          <BusinessNameLine1Txt>1396 TCD LLC</BusinessNameLine1Txt>
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        <USAddress>
          <AddressLine1Txt>1500 S EL CAMINO REAL</AddressLine1Txt>
          <CityNm>ENCINITAS</CityNm>
          <StateAbbreviationCd>CA</StateAbbreviationCd>
          <ZIPCd>92024</ZIPCd>
        </USAddress>
        <EIN>814260982</EIN>
        <PrimaryActivitiesTxt>REAL ESTATE RENTAL</PrimaryActivitiesTxt>
        <LegalDomicileStateCd>CA</LegalDomicileStateCd>
        <TotalIncomeAmt>19275</TotalIncomeAmt>
        <EndOfYearAssetsAmt>2959353</EndOfYearAssetsAmt>
        <DirectControllingNACd>N/A</DirectControllingNACd>
      </IdDisregardedEntitiesGrp>
      <ReceiptOfIntAnntsRntsRyltsInd>false</ReceiptOfIntAnntsRntsRyltsInd>
      <GiftGrntOrCapContriToOthOrgInd>false</GiftGrntOrCapContriToOthOrgInd>
      <GiftGrntCapContriFromOthOrgInd>false</GiftGrntCapContriFromOthOrgInd>
      <LoansOrGuaranteesToOtherOrgInd>false</LoansOrGuaranteesToOtherOrgInd>
      <LoansOrGuaranteesFromOthOrgInd>false</LoansOrGuaranteesFromOthOrgInd>
      <DivRelatedOrganizationInd>false</DivRelatedOrganizationInd>
      <AssetSaleToOtherOrgInd>false</AssetSaleToOtherOrgInd>
      <AssetPurchaseFromOtherOrgInd>false</AssetPurchaseFromOtherOrgInd>
      <AssetExchangeInd>false</AssetExchangeInd>
      <RentalOfFacilitiesToOthOrgInd>false</RentalOfFacilitiesToOthOrgInd>
      <RentalOfFcltsFromOthOrgInd>false</RentalOfFcltsFromOthOrgInd>
      <PerformOfServicesForOthOrgInd>false</PerformOfServicesForOthOrgInd>
      <PerformOfServicesByOtherOrgInd>false</PerformOfServicesByOtherOrgInd>
      <SharingOfFacilitiesInd>false</SharingOfFacilitiesInd>
      <PaidEmployeesSharingInd>false</PaidEmployeesSharingInd>
      <ReimbursementPaidToOtherOrgInd>false</ReimbursementPaidToOtherOrgInd>
      <ReimbursementPaidByOtherOrgInd>false</ReimbursementPaidByOtherOrgInd>
      <TransferToOtherOrgInd>false</TransferToOtherOrgInd>
      <TransferFromOtherOrgInd>false</TransferFromOtherOrgInd>
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