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        <TitleTxt>HEADMASTER</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <HighestCompensatedEmployeeInd>X</HighestCompensatedEmployeeInd>
        <ReportableCompFromOrgAmt>101550</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>11385</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <TotalReportableCompFromOrgAmt>767614</TotalReportableCompFromOrgAmt>
      <TotReportableCompRltdOrgAmt>344562</TotReportableCompRltdOrgAmt>
      <TotalOtherCompensationAmt>93528</TotalOtherCompensationAmt>
      <IndivRcvdGreaterThan100KCnt>6</IndivRcvdGreaterThan100KCnt>
      <FormerOfcrEmployeesListedInd>false</FormerOfcrEmployeesListedInd>
      <TotalCompGreaterThan150KInd>true</TotalCompGreaterThan150KInd>
      <CompensationFromOtherSrcsInd>false</CompensationFromOtherSrcsInd>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>NATIONS GROUP LLC</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>7201 E CAMELBACK ROAD SUITE 360</AddressLine1Txt>
            <CityNm>SCOTTSDALE</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85251</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>CONSTRUCTION</ServicesDesc>
        <CompensationAmt>639768</CompensationAmt>
      </ContractorCompensationGrp>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>CASAS BONITAS - AZ</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>4150 W NORTHERN AVE</AddressLine1Txt>
            <CityNm>PHOENIX</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85051</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <CompensationAmt>596084</CompensationAmt>
      </ContractorCompensationGrp>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>ELEUTHERIA LLC</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>13385 W MCDOWELL ROAD</AddressLine1Txt>
            <CityNm>GOODYEAR</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85395</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>IT SERVICES</ServicesDesc>
        <CompensationAmt>589769</CompensationAmt>
      </ContractorCompensationGrp>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>AZ OT 4 KIDS PLLC</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>9463 E TRAILSIDE VIEW</AddressLine1Txt>
            <CityNm>SCOTTSDALE</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85255</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <CompensationAmt>399220</CompensationAmt>
      </ContractorCompensationGrp>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>DERITO TALKING STICK NORTH LLC</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>9120 E TALKING STICK WAY</AddressLine1Txt>
            <CityNm>SCOTTSDALE</CityNm>
            <StateAbbreviationCd>AZ</StateAbbreviationCd>
            <ZIPCd>85250</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>PROPERTY MGMT</ServicesDesc>
        <CompensationAmt>383225</CompensationAmt>
      </ContractorCompensationGrp>
      <CntrctRcvdGreaterThan100KCnt>20</CntrctRcvdGreaterThan100KCnt>
      <FundraisingAmt>351930</FundraisingAmt>
      <AllOtherContributionsAmt>1085987</AllOtherContributionsAmt>
      <TotalContributionsAmt>1437917</TotalContributionsAmt>
      <ProgramServiceRevenueGrp>
        <Desc>RENTAL INCOME</Desc>
        <BusinessCd>531120</BusinessCd>
        <TotalRevenueColumnAmt>13850804</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>13850804</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <ProgramServiceRevenueGrp>
        <Desc>MANAGEMENT FEES</Desc>
        <BusinessCd>561000</BusinessCd>
        <TotalRevenueColumnAmt>9615262</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>9615262</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <ProgramServiceRevenueGrp>
        <Desc>CO-CURRICULAR ACTIVITIES</Desc>
        <BusinessCd>611710</BusinessCd>
        <TotalRevenueColumnAmt>3102183</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>3102183</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <ProgramServiceRevenueGrp>
        <Desc>FACILITIES SUPPORT SERVICES</Desc>
        <BusinessCd>611710</BusinessCd>
        <TotalRevenueColumnAmt>656570</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>656570</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <TotalProgramServiceRevenueAmt>27224819</TotalProgramServiceRevenueAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>489193</TotalRevenueColumnAmt>
        <ExclusionAmt>489193</ExclusionAmt>
      </InvestmentIncomeGrp>
      <FundraisingGrossIncomeAmt>136500</FundraisingGrossIncomeAmt>
      <ContriRptFundraisingEventAmt>351930</ContriRptFundraisingEventAmt>
      <FundraisingDirectExpensesAmt>88377</FundraisingDirectExpensesAmt>
      <NetIncmFromFundraisingEvtGrp>
        <TotalRevenueColumnAmt>48123</TotalRevenueColumnAmt>
      </NetIncmFromFundraisingEvtGrp>
      <OtherRevenueMiscGrp>
        <Desc>MISCELLANEOUS</Desc>
        <BusinessCd>611710</BusinessCd>
        <TotalRevenueColumnAmt>2552673</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>2552673</RelatedOrExemptFuncIncomeAmt>
      </OtherRevenueMiscGrp>
      <OtherRevenueTotalAmt>2552673</OtherRevenueTotalAmt>
      <TotalRevenueGrp>
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        <RelatedOrExemptFuncIncomeAmt>29777492</RelatedOrExemptFuncIncomeAmt>
        <ExclusionAmt>489193</ExclusionAmt>
      </TotalRevenueGrp>
      <GrantsToDomesticOrgsGrp>
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        <ProgramServicesAmt>2639063</ProgramServicesAmt>
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      <CompCurrentOfcrDirectorsGrp>
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        <ProgramServicesAmt>129643</ProgramServicesAmt>
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        <FundraisingAmt>14622</FundraisingAmt>
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      <OtherSalariesAndWagesGrp>
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      <PensionPlanContributionsGrp>
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      <FeesForServicesLegalGrp>
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      <OfficeExpensesGrp>
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      <InformationTechnologyGrp>
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        <FundraisingAmt>1466</FundraisingAmt>
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      <DepreciationDepletionGrp>
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      <OtherExpensesGrp>
        <Desc>LOSS ON DISPOSAL</Desc>
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      <OtherExpensesGrp>
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        <FundraisingAmt>126003</FundraisingAmt>
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      <AllOtherExpensesGrp>
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      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
      <FSAuditedInd>true</FSAuditedInd>
      <FSAuditedBasisGrp>
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        <ContributorUSAddress>
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          <AddressLine2>RESTRICTED</AddressLine2>
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        </ContributorUSAddress>
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      <AvgLobbyingNontaxableAmountGrp>
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        <CurrentYearAmt>1000000</CurrentYearAmt>
        <TotalAmt>2000000</TotalAmt>
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      <AvgGrassrootsNontaxableGrp>
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        <CurrentYearAmt>250000</CurrentYearAmt>
        <TotalAmt>500000</TotalAmt>
      </AvgGrassrootsNontaxableGrp>
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    <IRS990ScheduleD documentId="RetDoc6">
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      </LandGrp>
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      <EquipmentGrp>
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      </EquipmentGrp>
      <OtherLandBuildingsGrp>
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        <BookValueAmt>47322</BookValueAmt>
      </OtherLandBuildingsGrp>
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      <OtherAssetsOrgGrp>
        <Desc>RESTRICTED CASH</Desc>
        <BookValueAmt>15109591</BookValueAmt>
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      <OtherAssetsOrgGrp>
        <Desc>DUE FROM RELATED PARTY</Desc>
        <BookValueAmt>3961927</BookValueAmt>
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      <OtherAssetsOrgGrp>
        <Desc>LOAN ISSUANCE COST</Desc>
        <BookValueAmt>3842636</BookValueAmt>
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      <OtherAssetsOrgGrp>
        <Desc>DEPOSITS</Desc>
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        <Desc>DUE TO RELATED PARTY</Desc>
        <Amt>4922414</Amt>
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      <OtherLiabilitiesOrgGrp>
        <Desc>DEFERRED RENT</Desc>
        <Amt>735392</Amt>
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    <IRS990ScheduleG documentId="RetDoc7">
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        <OtherDirectExpensesEvent1Amt>12197</OtherDirectExpensesEvent1Amt>
        <GrossReceiptsTotalAmt>488430</GrossReceiptsTotalAmt>
        <CharitableContributionsTotAmt>351930</CharitableContributionsTotAmt>
        <GrossRevenueTotalEventsAmt>136500</GrossRevenueTotalEventsAmt>
        <NonCashPrizesTotalEventsAmt>76180</NonCashPrizesTotalEventsAmt>
        <OthDirectExpnssTotalEventsAmt>12197</OthDirectExpnssTotalEventsAmt>
        <DirectExpenseSummaryEventsAmt>88377</DirectExpenseSummaryEventsAmt>
        <NetIncomeSummaryAmt>48123</NetIncomeSummaryAmt>
      </FundraisingEventInformationGrp>
    </IRS990ScheduleG>
    <IRS990ScheduleI documentId="RetDoc8">
      <GrantRecordsMaintainedInd>true</GrantRecordsMaintainedInd>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>ARCHWAY CLASSICAL ACADEMY GLENDALE</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>4801 E WASHINGTON STREET SUITE 250</AddressLine1Txt>
          <CityNm>PHOENIX</CityNm>
          <StateAbbreviationCd>AZ</StateAbbreviationCd>
          <ZIPCd>85034</ZIPCd>
        </USAddress>
        <RecipientEIN>461014697</RecipientEIN>
        <IRCSectionDesc>3</IRCSectionDesc>
        <CashGrantAmt>15000</CashGrantAmt>
        <ValuationMethodUsedDesc>FMV</ValuationMethodUsedDesc>
        <PurposeOfGrantTxt>EDUCATION</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>MARYVALE PREPARATORY ACADEMY</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>4801 E WASHINGTON STREET SUITE 250</AddressLine1Txt>
          <CityNm>PHOENIX</CityNm>
          <StateAbbreviationCd>AZ</StateAbbreviationCd>
          <ZIPCd>85034</ZIPCd>
        </USAddress>
        <RecipientEIN>273289377</RecipientEIN>
        <IRCSectionDesc>3</IRCSectionDesc>
        <CashGrantAmt>450000</CashGrantAmt>
        <ValuationMethodUsedDesc>FMV</ValuationMethodUsedDesc>
        <PurposeOfGrantTxt>EDUCATION</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>TELEOS PREPARATRY ACADEMY</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>4801 E WASHINGTON STREET SUITE 250</AddressLine1Txt>
          <CityNm>PHOENIX</CityNm>
          <StateAbbreviationCd>AZ</StateAbbreviationCd>
          <ZIPCd>85034</ZIPCd>
        </USAddress>
        <RecipientEIN>262700807</RecipientEIN>
        <IRCSectionDesc>3</IRCSectionDesc>
        <CashGrantAmt>1909063</CashGrantAmt>
        <ValuationMethodUsedDesc>FMV</ValuationMethodUsedDesc>
        <PurposeOfGrantTxt>EDUCATION</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>ARETE PREPARATORY ACADEMY</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>4801 E WASHINGTON STREET SUITE 250</AddressLine1Txt>
          <CityNm>PHOENIX</CityNm>
          <StateAbbreviationCd>AZ</StateAbbreviationCd>
          <ZIPCd>85034</ZIPCd>
        </USAddress>
        <RecipientEIN>205332933</RecipientEIN>
        <IRCSectionDesc>3</IRCSectionDesc>
        <CashGrantAmt>50000</CashGrantAmt>
        <ValuationMethodUsedDesc>FMV</ValuationMethodUsedDesc>
        <PurposeOfGrantTxt>EDUCATION</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>NORTH PHOENIX PREPARATORY ACADEMY</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>4801 E WASHINGTON STREET SUITE 250</AddressLine1Txt>
          <CityNm>PHOENIX</CityNm>
          <StateAbbreviationCd>AZ</StateAbbreviationCd>
          <ZIPCd>85034</ZIPCd>
        </USAddress>
        <RecipientEIN>273322474</RecipientEIN>
        <IRCSectionDesc>3</IRCSectionDesc>
        <CashGrantAmt>200000</CashGrantAmt>
        <ValuationMethodUsedDesc>FMV</ValuationMethodUsedDesc>
        <PurposeOfGrantTxt>EDUCATION</PurposeOfGrantTxt>
      </RecipientTable>
      <RecipientTable>
        <RecipientBusinessName>
          <BusinessNameLine1Txt>VERITAS PREPARATORY ACADEMY</BusinessNameLine1Txt>
        </RecipientBusinessName>
        <USAddress>
          <AddressLine1Txt>4801 E WASHINGTON STREET SUITE 250</AddressLine1Txt>
          <CityNm>PHOENIX</CityNm>
          <StateAbbreviationCd>AZ</StateAbbreviationCd>
          <ZIPCd>85034</ZIPCd>
        </USAddress>
        <RecipientEIN>050527441</RecipientEIN>
        <IRCSectionDesc>3</IRCSectionDesc>
        <CashGrantAmt>15000</CashGrantAmt>
        <ValuationMethodUsedDesc>FMV</ValuationMethodUsedDesc>
        <PurposeOfGrantTxt>EDUCATION</PurposeOfGrantTxt>
      </RecipientTable>
      <Total501c3OrgCnt>6</Total501c3OrgCnt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE I, PAGE 1, PART I, LINE 2</FormAndLineReferenceDesc>
        <ExplanationTxt>GREAT HEARTS ARIZONA GIVES GRANTS TO ORGANIZATIONS TO WHICH THEY PROVIDE MANAGEMENT DUTIES FOR, WHICH ALLOWS THE ORGANIZATION TO CLOSELY MONITOR USE OF GRANT FUNDS.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleI>
    <IRS990ScheduleJ documentId="RetDoc9">
      <Form990OfOtherOrganizationsInd>X</Form990OfOtherOrganizationsInd>
      <WrittenEmploymentContractInd>X</WrittenEmploymentContractInd>
      <CompensationSurveyInd>X</CompensationSurveyInd>
      <BoardOrCommitteeApprovalInd>X</BoardOrCommitteeApprovalInd>
      <SeverancePaymentInd>false</SeverancePaymentInd>
      <SupplementalNonqualRtrPlanInd>false</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>false</EquityBasedCompArrngmInd>
      <CompBasedOnRevenueOfFlngOrgInd>false</CompBasedOnRevenueOfFlngOrgInd>
      <CompBsdOnRevRelatedOrgsInd>false</CompBsdOnRevRelatedOrgsInd>
      <CompBsdNetEarnsFlngOrgInd>false</CompBsdNetEarnsFlngOrgInd>
      <CompBsdNetEarnsRltdOrgsInd>false</CompBsdNetEarnsRltdOrgsInd>
      <AnyNonFixedPaymentsInd>false</AnyNonFixedPaymentsInd>
      <InitialContractExceptionInd>false</InitialContractExceptionInd>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>DANIEL P SCOGGIN</PersonNm>
        <TitleTxt>DIRECTOR/FDTN PRES</TitleTxt>
        <CompensationBasedOnRltdOrgsAmt>234431</CompensationBasedOnRltdOrgsAmt>
        <DeferredCompRltdOrgsAmt>11691</DeferredCompRltdOrgsAmt>
        <TotalCompensationRltdOrgsAmt>246122</TotalCompensationRltdOrgsAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>ERIK G TWIST</PersonNm>
        <TitleTxt>PRESIDENT OF AZ</TitleTxt>
        <BaseCompensationFilingOrgAmt>183855</BaseCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>13031</DeferredCompensationFlngOrgAmt>
        <TotalCompensationFilingOrgAmt>196886</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>DAVID L DENTON</PersonNm>
        <TitleTxt>SUPERINTENDENT</TitleTxt>
        <BaseCompensationFilingOrgAmt>148044</BaseCompensationFilingOrgAmt>
        <DeferredCompensationFlngOrgAmt>12315</DeferredCompensationFlngOrgAmt>
        <TotalCompensationFilingOrgAmt>160359</TotalCompensationFilingOrgAmt>
      </RltdOrgOfficerTrstKeyEmplGrp>
    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="RetDoc10">
      <TaxExemptBondsIssuesGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <IssuerName>
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          <BusinessNameLine2Txt>OF THE CITY OF PHOENIX ARIZONA</BusinessNameLine2Txt>
        </IssuerName>
        <BondIssuerEIN>522038405</BondIssuerEIN>
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        <BondIssuedDt>2016-02-01</BondIssuedDt>
        <IssuePriceAmt>48440000</IssuePriceAmt>
        <PurposeDesc>EDUCATION FACILITY AND REFUND BONDS ISSUED</PurposeDesc>
        <DefeasedInd>false</DefeasedInd>
        <OnBehalfOfIssuerInd>false</OnBehalfOfIssuerInd>
        <PoolFinancingInd>false</PoolFinancingInd>
      </TaxExemptBondsIssuesGrp>
      <TaxExemptBondsIssuesGrp>
        <BondReferenceCd>B</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1Txt>THE INDUSTRIAL DEVELOPMENT AUTHORIT</BusinessNameLine1Txt>
          <BusinessNameLine2Txt>OF THE CITY OF PHOENIX ARIZONA</BusinessNameLine2Txt>
        </IssuerName>
        <BondIssuerEIN>522038405</BondIssuerEIN>
        <CUSIPNum>71885FDK0</CUSIPNum>
        <BondIssuedDt>2014-10-23</BondIssuedDt>
        <IssuePriceAmt>81679781</IssuePriceAmt>
        <PurposeDesc>EDUCATION FACTILITY AND REFUND BONDS</PurposeDesc>
        <DefeasedInd>false</DefeasedInd>
        <OnBehalfOfIssuerInd>false</OnBehalfOfIssuerInd>
        <PoolFinancingInd>false</PoolFinancingInd>
      </TaxExemptBondsIssuesGrp>
      <TaxExemptBondsIssuesGrp>
        <BondReferenceCd>C</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1Txt>THE INDUSTRIAL DEVELOPMENT AUTHORIT</BusinessNameLine1Txt>
          <BusinessNameLine2Txt>OF THE COUNTY OF MARICOPA</BusinessNameLine2Txt>
        </IssuerName>
        <BondIssuerEIN>860445263</BondIssuerEIN>
        <CUSIPNum>56681NBT3</CUSIPNum>
        <BondIssuedDt>2017-07-01</BondIssuedDt>
        <IssuePriceAmt>32240000</IssuePriceAmt>
        <PurposeDesc>EDUCATION FACILITY AND REFUND BONDS ISSUED</PurposeDesc>
        <DefeasedInd>false</DefeasedInd>
        <OnBehalfOfIssuerInd>false</OnBehalfOfIssuerInd>
        <PoolFinancingInd>false</PoolFinancingInd>
      </TaxExemptBondsIssuesGrp>
      <TaxExemptBondsIssuesGrp>
        <BondReferenceCd>D</BondReferenceCd>
        <IssuerName>
          <BusinessNameLine1Txt>THE INDUSTRIAL DEVELOPMENT AUTHORIT</BusinessNameLine1Txt>
          <BusinessNameLine2Txt>OF THE COUNTY OF MARICOPA</BusinessNameLine2Txt>
        </IssuerName>
        <BondIssuerEIN>860445263</BondIssuerEIN>
        <CUSIPNum>56681NCN5</CUSIPNum>
        <BondIssuedDt>2017-11-01</BondIssuedDt>
        <IssuePriceAmt>19500000</IssuePriceAmt>
        <PurposeDesc>EDUCATION FACTILITY AND REFUND BONDS</PurposeDesc>
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        <OnBehalfOfIssuerInd>false</OnBehalfOfIssuerInd>
        <PoolFinancingInd>false</PoolFinancingInd>
      </TaxExemptBondsIssuesGrp>
      <TaxExemptBondsProceedsGrp>
        <BondReferenceCd>A</BondReferenceCd>
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        <IssuanceCostsFromProceedsAmt>1205476</IssuanceCostsFromProceedsAmt>
        <CapitalExpendituresAmt>29001322</CapitalExpendituresAmt>
        <SubstantialCompletionYr>2016</SubstantialCompletionYr>
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        <RefundingTaxableBondsInd>false</RefundingTaxableBondsInd>
        <FinalAllocationMadeInd>true</FinalAllocationMadeInd>
        <AdequateBooksAndRecMaintInd>true</AdequateBooksAndRecMaintInd>
      </TaxExemptBondsProceedsGrp>
      <TaxExemptBondsProceedsGrp>
        <BondReferenceCd>B</BondReferenceCd>
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        <CapitalizedInterestAmt>1376776</CapitalizedInterestAmt>
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        <SubstantialCompletionYr>2014</SubstantialCompletionYr>
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        <RefundingTaxableBondsInd>false</RefundingTaxableBondsInd>
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      <TaxExemptBondsProceedsGrp>
        <BondReferenceCd>C</BondReferenceCd>
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        <CapitalizedInterestAmt>809243</CapitalizedInterestAmt>
        <IssuanceCostsFromProceedsAmt>965797</IssuanceCostsFromProceedsAmt>
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        <SubstantialCompletionYr>2018</SubstantialCompletionYr>
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        <RefundingTaxableBondsInd>false</RefundingTaxableBondsInd>
        <FinalAllocationMadeInd>true</FinalAllocationMadeInd>
        <AdequateBooksAndRecMaintInd>true</AdequateBooksAndRecMaintInd>
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      <TaxExemptBondsProceedsGrp>
        <BondReferenceCd>D</BondReferenceCd>
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        <CapitalizedInterestAmt>645682</CapitalizedInterestAmt>
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        <SubstantialCompletionYr>2018</SubstantialCompletionYr>
        <RefundingTaxExemptBondsInd>false</RefundingTaxExemptBondsInd>
        <RefundingTaxableBondsInd>false</RefundingTaxableBondsInd>
        <FinalAllocationMadeInd>true</FinalAllocationMadeInd>
        <AdequateBooksAndRecMaintInd>true</AdequateBooksAndRecMaintInd>
      </TaxExemptBondsProceedsGrp>
      <TaxExemptBondsPrivateBusUseGrp>
        <BondReferenceCd>A</BondReferenceCd>
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        <AnyLeaseArrangementsInd>false</AnyLeaseArrangementsInd>
        <MgmtContractBondFincdPropInd>false</MgmtContractBondFincdPropInd>
        <AnyResearchAgreementsInd>false</AnyResearchAgreementsInd>
        <BondIssMeetPrvtSecPymtTestInd>false</BondIssMeetPrvtSecPymtTestInd>
        <ChangeInUseBondFinancedPropInd>false</ChangeInUseBondFinancedPropInd>
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      <TaxExemptBondsPrivateBusUseGrp>
        <BondReferenceCd>B</BondReferenceCd>
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        <AnyLeaseArrangementsInd>false</AnyLeaseArrangementsInd>
        <MgmtContractBondFincdPropInd>false</MgmtContractBondFincdPropInd>
        <AnyResearchAgreementsInd>false</AnyResearchAgreementsInd>
        <BondIssMeetPrvtSecPymtTestInd>false</BondIssMeetPrvtSecPymtTestInd>
        <ChangeInUseBondFinancedPropInd>false</ChangeInUseBondFinancedPropInd>
        <ProcsNonqualifiedBondRemdtdInd>true</ProcsNonqualifiedBondRemdtdInd>
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      <TaxExemptBondsPrivateBusUseGrp>
        <BondReferenceCd>C</BondReferenceCd>
        <OwningBondFinancedPropertyInd>false</OwningBondFinancedPropertyInd>
        <AnyLeaseArrangementsInd>false</AnyLeaseArrangementsInd>
        <MgmtContractBondFincdPropInd>false</MgmtContractBondFincdPropInd>
        <AnyResearchAgreementsInd>false</AnyResearchAgreementsInd>
        <BondIssMeetPrvtSecPymtTestInd>false</BondIssMeetPrvtSecPymtTestInd>
        <ChangeInUseBondFinancedPropInd>false</ChangeInUseBondFinancedPropInd>
        <ProcsNonqualifiedBondRemdtdInd>false</ProcsNonqualifiedBondRemdtdInd>
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      <TaxExemptBondsPrivateBusUseGrp>
        <BondReferenceCd>D</BondReferenceCd>
        <OwningBondFinancedPropertyInd>false</OwningBondFinancedPropertyInd>
        <AnyLeaseArrangementsInd>false</AnyLeaseArrangementsInd>
        <MgmtContractBondFincdPropInd>false</MgmtContractBondFincdPropInd>
        <AnyResearchAgreementsInd>false</AnyResearchAgreementsInd>
        <BondIssMeetPrvtSecPymtTestInd>false</BondIssMeetPrvtSecPymtTestInd>
        <ChangeInUseBondFinancedPropInd>false</ChangeInUseBondFinancedPropInd>
        <ProcsNonqualifiedBondRemdtdInd>false</ProcsNonqualifiedBondRemdtdInd>
      </TaxExemptBondsPrivateBusUseGrp>
      <TaxExemptBondsArbitrageGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <Form8038TFiledInd>false</Form8038TFiledInd>
        <RebateNotDueYetInd>false</RebateNotDueYetInd>
        <ExceptionToRebateInd>false</ExceptionToRebateInd>
        <NoRebateDueInd>false</NoRebateDueInd>
        <VariableRateIssueInd>false</VariableRateIssueInd>
        <HedgeIdentifiedInBksAndRecInd>false</HedgeIdentifiedInBksAndRecInd>
        <GrossProceedsInvestedInGICInd>false</GrossProceedsInvestedInGICInd>
        <GrossProceedsInvestedInd>false</GrossProceedsInvestedInd>
        <WrittenProcToMonitorReqsInd>true</WrittenProcToMonitorReqsInd>
      </TaxExemptBondsArbitrageGrp>
      <TaxExemptBondsArbitrageGrp>
        <BondReferenceCd>B</BondReferenceCd>
        <Form8038TFiledInd>false</Form8038TFiledInd>
        <RebateNotDueYetInd>false</RebateNotDueYetInd>
        <ExceptionToRebateInd>false</ExceptionToRebateInd>
        <NoRebateDueInd>false</NoRebateDueInd>
        <VariableRateIssueInd>false</VariableRateIssueInd>
        <HedgeIdentifiedInBksAndRecInd>false</HedgeIdentifiedInBksAndRecInd>
        <GrossProceedsInvestedInGICInd>false</GrossProceedsInvestedInGICInd>
        <GrossProceedsInvestedInd>false</GrossProceedsInvestedInd>
        <WrittenProcToMonitorReqsInd>true</WrittenProcToMonitorReqsInd>
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      <TaxExemptBondsArbitrageGrp>
        <BondReferenceCd>C</BondReferenceCd>
        <Form8038TFiledInd>false</Form8038TFiledInd>
        <RebateNotDueYetInd>false</RebateNotDueYetInd>
        <ExceptionToRebateInd>false</ExceptionToRebateInd>
        <NoRebateDueInd>false</NoRebateDueInd>
        <VariableRateIssueInd>false</VariableRateIssueInd>
        <HedgeIdentifiedInBksAndRecInd>false</HedgeIdentifiedInBksAndRecInd>
        <GrossProceedsInvestedInGICInd>false</GrossProceedsInvestedInGICInd>
        <GrossProceedsInvestedInd>false</GrossProceedsInvestedInd>
        <WrittenProcToMonitorReqsInd>false</WrittenProcToMonitorReqsInd>
      </TaxExemptBondsArbitrageGrp>
      <TaxExemptBondsArbitrageGrp>
        <BondReferenceCd>D</BondReferenceCd>
        <Form8038TFiledInd>false</Form8038TFiledInd>
        <RebateNotDueYetInd>false</RebateNotDueYetInd>
        <ExceptionToRebateInd>false</ExceptionToRebateInd>
        <NoRebateDueInd>false</NoRebateDueInd>
        <VariableRateIssueInd>false</VariableRateIssueInd>
        <HedgeIdentifiedInBksAndRecInd>false</HedgeIdentifiedInBksAndRecInd>
        <GrossProceedsInvestedInGICInd>false</GrossProceedsInvestedInGICInd>
        <GrossProceedsInvestedInd>false</GrossProceedsInvestedInd>
        <WrittenProcToMonitorReqsInd>false</WrittenProcToMonitorReqsInd>
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      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <ProceduresCorrectiveActionInd>false</ProceduresCorrectiveActionInd>
      </ProceduresCorrectiveActionGrp>
      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>B</BondReferenceCd>
        <ProceduresCorrectiveActionInd>false</ProceduresCorrectiveActionInd>
      </ProceduresCorrectiveActionGrp>
      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>C</BondReferenceCd>
        <ProceduresCorrectiveActionInd>false</ProceduresCorrectiveActionInd>
      </ProceduresCorrectiveActionGrp>
      <ProceduresCorrectiveActionGrp>
        <BondReferenceCd>D</BondReferenceCd>
        <ProceduresCorrectiveActionInd>false</ProceduresCorrectiveActionInd>
      </ProceduresCorrectiveActionGrp>
    </IRS990ScheduleK>
    <IRS990ScheduleO documentId="RetDoc11">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990 - ORGANIZATION'S MISSION</FormAndLineReferenceDesc>
        <ExplanationTxt>GREAT HEARTS IS A NON-PROFIT NETWORK OF PUBLIC CHARTER SCHOOLS DEDICATED TO IMPROVING EDUCATION NATIONWIDE THROUGH CLASSICAL PREPARATORY K-12 ACADEMIES. A GREAT HEARTS EDUCATION PREPARES STUDENTS TO BE MORE THAN JUST PROFICIENT TEST TAKERS, BUT RATHER, TO BECOME GREAT-HEARTED LEADERS CAPABLE OF SUCCESS THROUGHOUT THEIR HIGHER EDUCATION AND PROFESSIONAL CAREERS. WITH A CURRICULUM BUILT UPON A CLASSICAL LIBERAL ARTS TRADITION AND A REVOLUTIONARY APPROACH TO SCHOOL ITSELF, GREAT HEARTS CULTIVATES THE HEARTS AND MINDS OF STUDENTS IN THE PURSUIT OF TRUTH, GOODNESS, AND BEAUTY.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 1, PART I, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>THE VOLUNTEERS HELP IN CLASSROOMS AND SUPPORT TEACHERS AND STUDENTS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>THE SOLE MEMBER OF THE ORGANIZATION IS GREATHEARTS AMERICA, AN ORGANIZATION EXEMPT FROM TAXATION UNDER INTERNAL REVENUE CODE SETION 501(C)(3).</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 7A</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION'S TAX-EXEMPT SOLE MEMBER APPOINTS THE ORGANIZATION'S DIRECTORS, FILLS VACANCIES ON THE BOARD, AND MAY REMOVE DIRECTORS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE 990 IS PREPARED BY AN EXTERNAL CPA FIRM AND IS REVIEWED INTERNALLY BY THE CFO. AFTER COMPLETING THE CFO REVIEW, THE RETURN IS FINALIZED AND THEN REVIEWED BY THE GREAT HEARTS AUDIT COMMITTEE PRIOR TO BEING SIGNED BY THE CFO.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>BOARD MEMBERS, OFICERS AND ALL EMPLOYEEES COMPLETE AND SIGN A CONFLICT OF INTEREST AGREEMENT. THESE AGREEMENTS ARE REVIEWED BY HUMAN RESOURCES AND ANY CONFLICTS ARE IDENTIFIED AND REPORTED TO THE AUDITORS AND THE BOARD TO MONITOR.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 15A</FormAndLineReferenceDesc>
        <ExplanationTxt>SUBJECT TO THE SCHOOL'S CONFLICT OF INTEREST POLICY, THE SCHOOL'S TAX- EXEMPT SOLE MEMBER AND THE SCHOOL'S BOARD APPROVE THE COMPENSATION OF KEY STAFF SUCH AS HEADMASTER AND ASSISTANT HEADMASTER.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 15B</FormAndLineReferenceDesc>
        <ExplanationTxt>EMPLOYEES AND FACULTY ARE DETERMINED BASED ON INDEPENDENT COMPENSATION STUDIES AND SALARIES OF COMPARABLE NON-PROFIT ORGANIZATIONS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE BOTH AT THE MEETING OR FOLLOWING THE MEETING AND UPON REQUEST.</ExplanationTxt>
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