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      <Form990PartVIISectionAGrp>
        <PersonNm>ALEN MALEKIAN</PersonNm>
        <TitleTxt>TRUSTEE (THROUGH 6/2024)</TitleTxt>
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        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>JOE MOSCHELLA</PersonNm>
        <TitleTxt>TRUSTEE (THROUGH 6/2024)</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
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        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>WALTER MOSHER JR</PersonNm>
        <TitleTxt>TRUSTEE (THROUGH 6/2024)</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>CANDACE NG</PersonNm>
        <TitleTxt>TRUSTEE (THROUGH 6/2024)</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>EDWARD SPIEGEL</PersonNm>
        <TitleTxt>TRUSTEE (THROUGH 6/2024)</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>WILLIAM THOMAS</PersonNm>
        <TitleTxt>TRUSTEE (THROUGH 6/2024)</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>SUNDEEP VAGHASHIA</PersonNm>
        <TitleTxt>TRUSTEE (THROUGH 6/2024)</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
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        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>ELENA ZAGER</PersonNm>
        <TitleTxt>TRUSTEE (THROUGH 6/2024)</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>DULARI AMIN</PersonNm>
        <TitleTxt>TRUSTEE (THROUGH 6/2024)</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>SETA JAVOR</PersonNm>
        <TitleTxt>VP, EXECUTIVE RELATIONS (THRU 6/24)</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
        <OfficerInd>X</OfficerInd>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>24784</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>MICHELE A STARKEY</PersonNm>
        <TitleTxt>SR. VP, ACADEMIC AFFAIRS (THRU 6/24)</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
        <OfficerInd>X</OfficerInd>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>17762</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>TIM MCKENZIE</PersonNm>
        <TitleTxt>VP, FINANCE &amp; ACCOUNTING (THRU 8/23)</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>144519</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>10786</OtherCompensationAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>BRADLEY MITCHELL</PersonNm>
        <TitleTxt>INTERIM CFO (8/2023 - 6/2024)</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>133723</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JEFFREY BELLANTONI</PersonNm>
        <TitleTxt>DEAN, SCHOOL OF MEDIA CULTURE</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
        <KeyEmployeeInd>X</KeyEmployeeInd>
        <ReportableCompFromOrgAmt>191341</ReportableCompFromOrgAmt>
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        <OtherCompensationAmt>30418</OtherCompensationAmt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>HEATHER FLOOD</PersonNm>
        <TitleTxt>DEAN, SCHOOL OF ARCHITECTURE</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
        <KeyEmployeeInd>X</KeyEmployeeInd>
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      <Form990PartVIISectionAGrp>
        <PersonNm>JOAN MARQUES</PersonNm>
        <TitleTxt>DEAN, SCHOOL OF BUSINESS</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
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      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>SABRINA TAYLOR-ENCARNACION</PersonNm>
        <TitleTxt>ASSOCIATE VP, ADMISSIONS</TitleTxt>
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        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>SATINDER DHIMAN</PersonNm>
        <TitleTxt>PROFESSOR VI</TitleTxt>
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        <AverageHoursPerWeekRltdOrgRt>0.00</AverageHoursPerWeekRltdOrgRt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>MAURO DIAZ</PersonNm>
        <TitleTxt>DIRECTOR, FINANCE &amp; GRANT</TitleTxt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>SHARON TOWNSEND</PersonNm>
        <TitleTxt>SR. DIR, DEVELOPMENT &amp; ALUMNI AFFAIRS</TitleTxt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>WILLIAM MCCONNELL</PersonNm>
        <TitleTxt>DEAN, COLLEGE OF LIBERAL ARTS &amp; SCIENCES</TitleTxt>
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      <Form990PartVIISectionAGrp>
        <PersonNm>RANDALL A STAUFFER</PersonNm>
        <TitleTxt>PROFESSOR VI</TitleTxt>
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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>21812</OtherCompensationAmt>
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      <TotReportableCompRltdOrgAmt>655555</TotReportableCompRltdOrgAmt>
      <TotalOtherCompensationAmt>409216</TotalOtherCompensationAmt>
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      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>BON APPETIT</BusinessNameLine1Txt>
          </BusinessName>
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        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>PO BOX 50196</AddressLine1Txt>
            <CityNm>LOS ANGELES</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>900740196</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>FOOD SERVICE</ServicesDesc>
        <CompensationAmt>987100</CompensationAmt>
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      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>SECURITAS SECURITY SERVICES USA INC</BusinessNameLine1Txt>
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        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>16909 PARTHENIA STREET</AddressLine1Txt>
            <CityNm>NORTH HILLS</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>91343</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>SECURITY SERVICES</ServicesDesc>
        <CompensationAmt>568100</CompensationAmt>
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      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>CCS FACILITY SERVICES</BusinessNameLine1Txt>
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        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>PO BOX 845117</AddressLine1Txt>
            <CityNm>LOS ANGELES</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>90084</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>JANITORIAL SERVICES</ServicesDesc>
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      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>MOSS ADAMS LLP</BusinessNameLine1Txt>
          </BusinessName>
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        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>PO BOX 101822</AddressLine1Txt>
            <CityNm>PASADENA</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>91189</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>ACCOUNTING SERVICES</ServicesDesc>
        <CompensationAmt>238783</CompensationAmt>
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      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>ANTHOLOGY INC</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>PO BOX 850001</AddressLine1Txt>
            <CityNm>ORLANDO</CityNm>
            <StateAbbreviationCd>FL</StateAbbreviationCd>
            <ZIPCd>328859908</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>SOFTWARE AND CONSULTING PLATFORM</ServicesDesc>
        <CompensationAmt>200308</CompensationAmt>
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      <CntrctRcvdGreaterThan100KCnt>27</CntrctRcvdGreaterThan100KCnt>
      <RelatedOrganizationsAmt>4561986</RelatedOrganizationsAmt>
      <GovernmentGrantsAmt>5613562</GovernmentGrantsAmt>
      <AllOtherContributionsAmt>756423</AllOtherContributionsAmt>
      <NoncashContributionsAmt>13659</NoncashContributionsAmt>
      <TotalContributionsAmt>10931971</TotalContributionsAmt>
      <ProgramServiceRevenueGrp>
        <Desc>TUITION AND FEES</Desc>
        <BusinessCd>611310</BusinessCd>
        <TotalRevenueColumnAmt>37530965</TotalRevenueColumnAmt>
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      <TotalProgramServiceRevenueAmt>37530965</TotalProgramServiceRevenueAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>268753</TotalRevenueColumnAmt>
        <ExclusionAmt>268753</ExclusionAmt>
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      <GrossRentsGrp>
        <RealAmt>88000</RealAmt>
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        <RealAmt>99993</RealAmt>
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      <RentalIncomeOrLossGrp>
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        <TotalRevenueColumnAmt>-11993</TotalRevenueColumnAmt>
        <UnrelatedBusinessRevenueAmt>-11993</UnrelatedBusinessRevenueAmt>
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      <GrossAmountSalesAssetsGrp>
        <SecuritiesAmt>16377388</SecuritiesAmt>
      </GrossAmountSalesAssetsGrp>
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        <SecuritiesAmt>16463203</SecuritiesAmt>
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      <NetGainOrLossInvestmentsGrp>
        <TotalRevenueColumnAmt>-85815</TotalRevenueColumnAmt>
        <ExclusionAmt>-85815</ExclusionAmt>
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        <Desc>ROOM AND BOARD</Desc>
        <BusinessCd>611710</BusinessCd>
        <TotalRevenueColumnAmt>2981217</TotalRevenueColumnAmt>
        <ExclusionAmt>2981217</ExclusionAmt>
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      <OtherRevenueMiscGrp>
        <Desc>MISCELLANEOUS REVENUE</Desc>
        <BusinessCd>611710</BusinessCd>
        <TotalRevenueColumnAmt>286746</TotalRevenueColumnAmt>
        <ExclusionAmt>286746</ExclusionAmt>
      </OtherRevenueMiscGrp>
      <OtherRevenueMiscGrp>
        <Desc>PARKING PERMITS</Desc>
        <BusinessCd>611710</BusinessCd>
        <TotalRevenueColumnAmt>148803</TotalRevenueColumnAmt>
        <ExclusionAmt>148803</ExclusionAmt>
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      <OtherRevenueTotalAmt>3416766</OtherRevenueTotalAmt>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>52050647</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>37530965</RelatedOrExemptFuncIncomeAmt>
        <UnrelatedBusinessRevenueAmt>-11993</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>3599704</ExclusionAmt>
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      <GrantsToDomesticIndividualsGrp>
        <TotalAmt>18938166</TotalAmt>
        <ProgramServicesAmt>18938166</ProgramServicesAmt>
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      <CompCurrentOfcrDirectorsGrp>
        <TotalAmt>2017122</TotalAmt>
        <ProgramServicesAmt>218100</ProgramServicesAmt>
        <ManagementAndGeneralAmt>1679591</ManagementAndGeneralAmt>
        <FundraisingAmt>119431</FundraisingAmt>
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      <CompDisqualPersonsGrp>
        <TotalAmt>131767</TotalAmt>
        <ProgramServicesAmt>64566</ProgramServicesAmt>
        <ManagementAndGeneralAmt>65883</ManagementAndGeneralAmt>
        <FundraisingAmt>1318</FundraisingAmt>
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        <TotalAmt>16467968</TotalAmt>
        <ProgramServicesAmt>14884518</ProgramServicesAmt>
        <ManagementAndGeneralAmt>1488597</ManagementAndGeneralAmt>
        <FundraisingAmt>94853</FundraisingAmt>
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      <PensionPlanContributionsGrp>
        <TotalAmt>396536</TotalAmt>
        <ProgramServicesAmt>372685</ProgramServicesAmt>
        <ManagementAndGeneralAmt>23851</ManagementAndGeneralAmt>
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      <OtherEmployeeBenefitsGrp>
        <TotalAmt>1447480</TotalAmt>
        <ProgramServicesAmt>1357471</ProgramServicesAmt>
        <ManagementAndGeneralAmt>84559</ManagementAndGeneralAmt>
        <FundraisingAmt>5450</FundraisingAmt>
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      <PayrollTaxesGrp>
        <TotalAmt>1479695</TotalAmt>
        <ProgramServicesAmt>1225993</ProgramServicesAmt>
        <ManagementAndGeneralAmt>236993</ManagementAndGeneralAmt>
        <FundraisingAmt>16709</FundraisingAmt>
      </PayrollTaxesGrp>
      <FeesForServicesLegalGrp>
        <TotalAmt>3699608</TotalAmt>
        <ManagementAndGeneralAmt>3699608</ManagementAndGeneralAmt>
      </FeesForServicesLegalGrp>
      <FeesForServicesAccountingGrp>
        <TotalAmt>273005</TotalAmt>
        <ManagementAndGeneralAmt>273005</ManagementAndGeneralAmt>
      </FeesForServicesAccountingGrp>
      <FeesForSrvcInvstMgmntFeesGrp>
        <TotalAmt>84924</TotalAmt>
        <ManagementAndGeneralAmt>84924</ManagementAndGeneralAmt>
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        <TotalAmt>1902580</TotalAmt>
        <ProgramServicesAmt>501310</ProgramServicesAmt>
        <ManagementAndGeneralAmt>1369875</ManagementAndGeneralAmt>
        <FundraisingAmt>31395</FundraisingAmt>
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      <AdvertisingGrp>
        <TotalAmt>204937</TotalAmt>
        <ProgramServicesAmt>31519</ProgramServicesAmt>
        <ManagementAndGeneralAmt>173418</ManagementAndGeneralAmt>
      </AdvertisingGrp>
      <OfficeExpensesGrp>
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        <ProgramServicesAmt>2550340</ProgramServicesAmt>
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        <ProgramServicesAmt>1124396</ProgramServicesAmt>
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      <OtherExpensesGrp>
        <Desc>RESTRICTED EXPENSES</Desc>
        <TotalAmt>1050630</TotalAmt>
        <ProgramServicesAmt>1050630</ProgramServicesAmt>
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        <Desc>SECURITY</Desc>
        <TotalAmt>775380</TotalAmt>
        <ProgramServicesAmt>600618</ProgramServicesAmt>
        <ManagementAndGeneralAmt>174762</ManagementAndGeneralAmt>
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        <Desc>STUDENT ACTIVITY</Desc>
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        <ProgramServicesAmt>414904</ProgramServicesAmt>
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        <EOYAmt>42806608</EOYAmt>
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      <FSAuditedBasisGrp>
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      <AuditCommitteeInd>1</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>1</FederalGrantAuditRequiredInd>
      <FederalGrantAuditPerformedInd>1</FederalGrantAuditPerformedInd>
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          <AddressLine2>RESTRICTED</AddressLine2>
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          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
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      <FootnoteTextInd>X</FootnoteTextInd>
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        <FormAndLineReferenceDesc>PART V, LINE 4:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE UNIVERSITY HAS ADOPTED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE MARKET VALUE AS OF THE DONATION DATE OF THE ENDOWMENT ASSETS.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART X, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE INTERNAL REVENUE SERVICE HAS RULED THAT THE UNIVERSITY QUALIFIES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS THEREFORE NOT SUBJECT TO INCOME TAXES FOR ACTIVITIES RELATED TO ITS EXEMPT PROGRAMS. MANAGEMENT IS NOT AWARE OF ANY EVENT THAT WOULD CAUSE THE UNIVERSITY TO BE DISQUALIFIED FROM ITS TAX EXEMPT STATUS. THE UNIVERSITY HAD NO UNRECOGNIZED TAX BENEFITS AT JUNE 30, 2024 AND 2023. THE UNIVERSITY FILES AN EXEMPT ORGANIZATION RETURN IN THE U.S. FEDERAL JURISDICTION AND WITH THE CALIFORNIA FRANCHISE TAX BOARD. THE UNIVERSITY FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE UNIVERSITY FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2024 OR 2023.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XI, LINE 2D - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>PLEDGE WRITE OFF -78.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XI, LINE 4B - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>CHANGE IN MINIMUM PENSION LIABILITY -1,577,980. EXPENSE RECLASS - FINANCIAL AID 14,048,298. EXPENSE RECLASS - FUNDED SCHOLARSHIPS 294,704. RENTAL EXPENSES -99,993. EXPENSE RECLASS - CAL GRANTS 2,375,504. EXPENSE RECLASS - PELL GRANTS 2,219,660.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XII, LINE 2D - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>RENTAL EXPENSES 99,993.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XII, LINE 4B - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>EXPENSE RECLASS - FUNDED SCHOLARSHIPS 294,704. EXPENSE RECLASS - FINANCIAL AID 14,048,298. EXPENSE RECLASS - CAL GRANTS 2,375,504. EXPENSE RECLASS - PELL GRANTS 2,219,660.</ExplanationTxt>
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        <ExplanationTxt>THE UNIVERSITY'S NONDISCRIMINATION POLICY IS STATED IN ALL UNIVERSITY PUBLICATIONS, APPLICATIONS, RECRUITING LITERATURE, CATALOGUES, ETC. IT IS ALSO POSTED PROMINENTLY ON CAMPUS AND ON THE HOMEPAGE OF THE WEBSITE.</ExplanationTxt>
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        <TitleTxt>PRESIDENT/CEO (THROUGH 6/2024)</TitleTxt>
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        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>128347</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>7531</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>60055</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>534474</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>MICHELE A STARKEY</PersonNm>
        <TitleTxt>SR. VP, ACADEMIC AFFAIRS (THRU 6/24)</TitleTxt>
        <BaseCompensationFilingOrgAmt>229555</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>8415</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>10771</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>6991</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>255732</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>JOAN MARQUES</PersonNm>
        <TitleTxt>DEAN, SCHOOL OF BUSINESS</TitleTxt>
        <BaseCompensationFilingOrgAmt>187941</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>10161</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>16843</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>10135</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>225080</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>JEFFREY BELLANTONI</PersonNm>
        <TitleTxt>DEAN, SCHOOL OF MEDIA CULTURE</TitleTxt>
        <BaseCompensationFilingOrgAmt>183813</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>7528</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>9221</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>21197</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>221759</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>HEATHER FLOOD</PersonNm>
        <TitleTxt>DEAN, SCHOOL OF ARCHITECTURE</TitleTxt>
        <BaseCompensationFilingOrgAmt>173432</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>1850</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>15426</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>11414</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>202122</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>MAURO DIAZ</PersonNm>
        <TitleTxt>DIRECTOR, FINANCE &amp; GRANT</TitleTxt>
        <BaseCompensationFilingOrgAmt>169342</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>299</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>10442</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>9178</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>189261</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>SETA JAVOR</PersonNm>
        <TitleTxt>VP, EXECUTIVE RELATIONS (THRU 6/24)</TitleTxt>
        <BaseCompensationFilingOrgAmt>153340</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>1446</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>13605</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>11179</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>179570</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>SATINDER DHIMAN</PersonNm>
        <TitleTxt>PROFESSOR VI</TitleTxt>
        <BaseCompensationFilingOrgAmt>116845</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>36942</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>13662</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>10805</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>178254</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>SABRINA TAYLOR-ENCARNACION</PersonNm>
        <TitleTxt>ASSOCIATE VP, ADMISSIONS</TitleTxt>
        <BaseCompensationFilingOrgAmt>144309</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>109</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>12691</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>10565</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>167674</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>SHARON TOWNSEND</PersonNm>
        <TitleTxt>SR. DIR, DEVELOPMENT &amp; ALUMNI AFFAIR</TitleTxt>
        <BaseCompensationFilingOrgAmt>148262</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>1461</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>0</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>10630</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>160353</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>TIM MCKENZIE</PersonNm>
        <TitleTxt>VP, FINANCE &amp; ACCOUNTING (THRU 8/23)</TitleTxt>
        <BaseCompensationFilingOrgAmt>143811</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>708</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>2470</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>8316</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>155305</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>WILLIAM MCCONNELL</PersonNm>
        <TitleTxt>DEAN, COLLEGE OF LIBERAL ARTS &amp; SCIE</TitleTxt>
        <BaseCompensationFilingOrgAmt>123963</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>10042</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>11470</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>9811</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>155286</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>RANDALL A STAUFFER</PersonNm>
        <TitleTxt>PROFESSOR VI</TitleTxt>
        <BaseCompensationFilingOrgAmt>116399</BaseCompensationFilingOrgAmt>
        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>516</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>10324</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>11488</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>138727</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 1A</FormAndLineReferenceDesc>
        <ExplanationTxt>A HOUSING ALLOWANCE IS PROVIDED TO THE PRESIDENT AND IS INCLUDED AS TAXABLE COMPENSATION.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="RetDoc1053100001">
      <TaxExemptBondsIssuesGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1Txt>CALIFORNIA ENTERPRISE DEVELOPMENT AUTHORITY</BusinessNameLine1Txt>
        </IssuerName>
        <BondIssuerEIN>352273601</BondIssuerEIN>
        <BondIssuedDt>2021-12-29</BondIssuedDt>
        <IssuePriceAmt>23000000</IssuePriceAmt>
        <PurposeDesc>TO REFUND 2014 TAX-EXEMPT BOND</PurposeDesc>
        <DefeasedInd>0</DefeasedInd>
        <OnBehalfOfIssuerInd>0</OnBehalfOfIssuerInd>
        <PoolFinancingInd>0</PoolFinancingInd>
      </TaxExemptBondsIssuesGrp>
      <TaxExemptBondsProceedsGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <RetiredAmt>1178478</RetiredAmt>
        <TotalProceedsAmt>23000000</TotalProceedsAmt>
        <IssuanceCostsFromProceedsAmt>165106</IssuanceCostsFromProceedsAmt>
        <OtherSpentProceedsAmt>22834894</OtherSpentProceedsAmt>
        <RefundingTaxExemptBondsInd>1</RefundingTaxExemptBondsInd>
        <RefundingTaxableBondsInd>0</RefundingTaxableBondsInd>
        <FinalAllocationMadeInd>1</FinalAllocationMadeInd>
        <AdequateBooksAndRecMaintInd>1</AdequateBooksAndRecMaintInd>
      </TaxExemptBondsProceedsGrp>
      <TaxExemptBondsPrivateBusUseGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <OwningBondFinancedPropertyInd>0</OwningBondFinancedPropertyInd>
        <AnyLeaseArrangementsInd>1</AnyLeaseArrangementsInd>
        <MgmtContractBondFincdPropInd>0</MgmtContractBondFincdPropInd>
        <AnyResearchAgreementsInd>0</AnyResearchAgreementsInd>
        <PrivateBusUseByOthersPct>0.00000</PrivateBusUseByOthersPct>
        <PrivateBusConcerningUBIPct>0.05000</PrivateBusConcerningUBIPct>
        <TotalPrivateBusinessUsePct>0.05000</TotalPrivateBusinessUsePct>
        <BondIssMeetPrvtSecPymtTestInd>0</BondIssMeetPrvtSecPymtTestInd>
        <ChangeInUseBondFinancedPropInd>0</ChangeInUseBondFinancedPropInd>
        <ProcsNonqualifiedBondRemdtdInd>1</ProcsNonqualifiedBondRemdtdInd>
      </TaxExemptBondsPrivateBusUseGrp>
      <TaxExemptBondsArbitrageGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <Form8038TFiledInd>0</Form8038TFiledInd>
        <RebateNotDueYetInd>0</RebateNotDueYetInd>
        <ExceptionToRebateInd>1</ExceptionToRebateInd>
        <NoRebateDueInd>0</NoRebateDueInd>
        <VariableRateIssueInd>0</VariableRateIssueInd>
        <HedgeIdentifiedInBksAndRecInd>0</HedgeIdentifiedInBksAndRecInd>
        <GrossProceedsInvestedInGICInd>0</GrossProceedsInvestedInGICInd>
        <GrossProceedsInvestedInd>0</GrossProceedsInvestedInd>
        <WrittenProcToMonitorReqsInd>1</WrittenProcToMonitorReqsInd>
      </TaxExemptBondsArbitrageGrp>
      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <ProceduresCorrectiveActionInd>1</ProceduresCorrectiveActionInd>
      </ProceduresCorrectiveActionGrp>
    </IRS990ScheduleK>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART V, LINE 1A:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE NUMBER ON PART V, LINE 1A INCLUDES THE NUMBER OF FORMS 1098-T WHICH WERE EXCLUDED FROM THE PRIOR YEAR COUNT.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 1A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE EXECUTIVE COMMITTEE HAS POWER AND AUTHORITY TO VOTE ON CERTAIN MATTERS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 4</FormAndLineReferenceDesc>
        <ExplanationTxt>EFFECTIVE JUNE 3, 2024, THE ORGANIZATIONAL DOCUMENTS WERE AMENDED TO REFLECT THE CHANGE OF CONTROL RESULTING FROM THE ACQUISITION BY THE UNIVERSITY OF REDLANDS. THE UNIVERSITY OF REDLANDS IS THE SOLE CORPORATE MEMBER.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION HAS ONE SOLE MEMBER, UNIVERSITY OF REDLANDS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 7A</FormAndLineReferenceDesc>
        <ExplanationTxt>ALL DIRECTORS ARE APPOINTED BY THE UNIVERSITY OF REDLANDS. ONE BOARD SEAT SHALL BE FILLED BY THE PRESIDENT OF THE UNIVERSITY OF REDLANDS OR THEIR PERMITTED DESIGNEE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 7B</FormAndLineReferenceDesc>
        <ExplanationTxt>CONSENT BY THE SOLE MEMBER IS REQUIRED IN THE FOLLOWING SITUATIONS: A) SALE, LEASE, EXCHANGE, OR OTHER DISPOSITION OF ALL OR SUBSTANTIALLY ALL OF THE ORGANIZATIONS PROPERTY; B) SALE LEASE, EXCHANGE, OR OTHER DISPOSITION OF ANY ASSET OR GROUP OF SIMILAR ASSETS IN EXCESS OF $250,000; C) LICENSING OR OTHER TRANSFER OF INTELLECTUAL PROPERTY (OR RIGHTS THERETO) OF THE CORPORATION FOR CONSIDERATION; D) ASSUMPTION OR CREATION OF ANY INDEBTEDNESS EXCEEDING $500,000.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FORM 990 IS REVIEWED IN DETAIL BY UNIVERSITY MANAGEMENT, GENERAL COUNSEL, AND THE AUDIT AND RISK MANAGEMENT COMMITTEE OF THE BOARD OF TRUSTEES. THE AUDIT AND RISK MANAGEMENT COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS THE FORM 990 WITH THE INDEPENDENT ACCOUNTANT AND ACCEPTS THE FILINGS. THE FINAL COPY OF THE FORM 990 IS DISTRIBUTED TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>ON AN ANNUAL BASIS, BOTH THE BOARD OF TRUSTEES AND EXECUTIVE MANAGEMENT PREPARE CONFLICT OF INTEREST TRANSACTION FORMS, AND ANY IMPROPER TRANSACTIONS ARE IDENTIFIED.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15</FormAndLineReferenceDesc>
        <ExplanationTxt>THE UNIVERSITY'S COMPENSATION POLICY IS DESIGNED TO PROVIDE EQUITABLE COMPENSATION TO EACH EMPLOYEE REFLECTIVE OF THE DUTIES AND RESPONSIBILITIES OF HIS/HER POSITION; TO MAINTAIN AN EQUITABLE RELATIONSHIP BETWEEN SALARIES PAID BY THE UNIVERSITY AND THOSE PAID EXTERNALLY FOR COMPARABLE OCCUPATIONAL GROUPS; TO REWARD EMPLOYEES ON THE BASIS OF PERFORMANCE AND LENGTH OF SERVICE, ETC. IN ORDER TO ACHIEVE THESE OBJECTIVES, THE PROGRAM CONSISTS OF POSITION DESCRIPTIONS THAT DEFINE THE CONTENT OF EACH POSITION, A COMPETITIVE SALARY STRUCTURE THAT TAKES INTO ACCOUNT WHAT OTHER ORGANIZATIONS PAY FOR SIMILAR WORK, POSITION EVALUATIONS THAT PLACE POSITIONS INTO APPROPRIATE SALARY GRADES WITHIN THE SALARY STRUCTURE, AND SALARY PLANNING THAT PROVIDES THE BASIS FOR SALARY INCREASES TO RECOGNIZE PERFORMANCE AND SALARY MOVEMENT IN THE EXTERNAL MARKETPLACE. PRESIDENT'S COMPENSATION - THE UNIVERSITY'S BOARD OF TRUSTEES REVIEWS THE PRESIDENT'S COMPENSATION PACKAGE. THEIR REVIEW IS BASED ON THE STUDY OF COMPARATIVE SALARY AND BENEFITS DATA FOR PRESIDENTS AT COMPARABLE INDEPENDENT COLLEGES AND UNIVERSITIES IN CALIFORNIA. THE MOST RECENT REVIEW OCCURRED IN APRIL 2021. BECAUSE INSTITUTIONS ARE PLACED IN CATEGORIES DEPENDENT ON INSTITUTIONAL CHARACTERISTICS THAT INCLUDE ENROLLMENT, ENDOWMENT, NUMBERS OF FULL-TIME FACULTY, REVENUE BUDGET, ETC., THE BOARD DETERMINES ITS DECISION BY STUDYING NOT ONLY THOSE INSTITUTIONS IN THE SAME CATEGORY AS WOODBURY (GROUP IVA) BUT ALSO THOSE IN GROUP III, GROUPS II-B AND II-A. THE BOARD ALSO EXERCISES FINAL AUTHORITY IN TERMS OF ANY ACROSS-THE-BOARD CPI INCREASES AND/OR CHANGES TO THE BENEFITS PACKAGE. TOP MANAGEMENT, OFFICERS &amp; KEY EMPLOYEES - THE SALARY ADMINISTRATION OBJECTIVES NOTED IN THE INITIAL PARAGRAPH ABOVE UTILIZE A POINT-RATING JOB CLASSIFICATION SYSTEM THAT DETERMINES THE RELATIVE VALUE OF ALL POSITIONS. THE CLASSIFICATION SYSTEM DEFINES THOSE CHARACTERISTICS OF "FACTORS" THAT ARE PRESENT IN ALL POSITIONS EVALUATED WITHIN THE SYSTEM. THE DEGREE TO WHICH EACH "FACTOR" IS PRESENT IN A GIVEN JOB IS DETERMINED AND A POINT VALUE IS ASSIGNED TO EACH FACTOR. THE SUM OF THESE POINT VALUES DETERMINES THE POSITION GRADE THAT RESPONDS TO A SALARY STRUCTURE TO ENSURE EQUITY. THE UNIVERSITY RECOGNIZES THE NEED FOR INDIVIDUALIZED SALARY "STUDIES" FOR SEVERAL TOP MANAGEMENT POSITIONS WHOSE GRADE ASSIGNMENT COMPRISES THE UPPER LEVELS OF THE GRADE STRUCTURE. IN SUCH INSTANCES, SALARIES WITHIN THE SALARY STRUCTURE THAT ARE BELOW MARKET AND THAT ARE REQUIRED TO ATTRACT AND RETAIN QUALIFIED PERSONNEL WHO CAN PERFORM THE TASKS NECESSARY FOR THE SUCCESSFUL OPERATION OF THE UNIVERSITY ARE REVIEWED BY POSITION USING THE SAME CRITERIA AS THE BOARD UTILIZES FOR REVIEW OF THE PRESIDENT'S COMPENSATION PACKAGE. ALL FULL-TIME FACULTY, INCLUDING FULL-TIME LIBRARIANS, ARE COMPENSATED BASED ON ASSIGNED RANK ACCORDING TO A SET OF CRITERIA DEFINED IN THE FACULTY HANDBOOK. THESE CRITERIA COVER EDUCATIONAL REQUIREMENTS, TEACHING EXPERIENCE, PROFESSIONAL DEVELOPMENT AND COMMUNITY SERVICE.</ExplanationTxt>
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        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XI, LINE 9:</FormAndLineReferenceDesc>
        <ExplanationTxt>CHANGE IN MINIMUM PENSION LIABILITY 1,577,980. PERKINS LOAN CONTRIBUTIONS RETURNED TO DEPARTMENT OF EDUCATION -719,800. PLEDGE WRITE-OFF -78.</ExplanationTxt>
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