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        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JOEL BLOCH</PersonNm>
        <TitleTxt>CHIEF FINANCIAL OFFICER</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>172887</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>13178</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>LANCE STICKSEL</PersonNm>
        <TitleTxt>SR. VP INSTITUTIONAL ADVANCEMENT</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <KeyEmployeeInd>X</KeyEmployeeInd>
        <ReportableCompFromOrgAmt>226973</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>6965</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>DAVID SULLIVAN</PersonNm>
        <TitleTxt>SR. DIRECTOR OF INSTRUCTION</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <KeyEmployeeInd>X</KeyEmployeeInd>
        <ReportableCompFromOrgAmt>157630</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>12720</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>DANIEL DESHURLEY</PersonNm>
        <TitleTxt>SR. DIRECTOR OF OPERATIONS</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <HighestCompensatedEmployeeInd>X</HighestCompensatedEmployeeInd>
        <ReportableCompFromOrgAmt>123073</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>10397</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JUDITH BOHANNON</PersonNm>
        <TitleTxt>FACULTY ADMINISTRATION</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <HighestCompensatedEmployeeInd>X</HighestCompensatedEmployeeInd>
        <ReportableCompFromOrgAmt>143524</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>4305</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>LINDA BRENNAN</PersonNm>
        <TitleTxt>FACULTY ADMINISTRATION</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <HighestCompensatedEmployeeInd>X</HighestCompensatedEmployeeInd>
        <ReportableCompFromOrgAmt>131741</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>3952</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>INSOO STEVEN HONG</PersonNm>
        <TitleTxt>DIRECTOR OF NATIONAL ADMISSIONS</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <HighestCompensatedEmployeeInd>X</HighestCompensatedEmployeeInd>
        <ReportableCompFromOrgAmt>120372</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>7860</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>CONSTANTINE SCOPAS</PersonNm>
        <TitleTxt>DIRECTOR OF INSTRUCTION</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <HighestCompensatedEmployeeInd>X</HighestCompensatedEmployeeInd>
        <ReportableCompFromOrgAmt>119700</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>11583</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <TotalReportableCompFromOrgAmt>1497746</TotalReportableCompFromOrgAmt>
      <TotReportableCompRltdOrgAmt>0</TotReportableCompRltdOrgAmt>
      <TotalOtherCompensationAmt>87905</TotalOtherCompensationAmt>
      <IndivRcvdGreaterThan100KCnt>17</IndivRcvdGreaterThan100KCnt>
      <FormerOfcrEmployeesListedInd>0</FormerOfcrEmployeesListedInd>
      <TotalCompGreaterThan150KInd>1</TotalCompGreaterThan150KInd>
      <CompensationFromOtherSrcsInd>0</CompensationFromOtherSrcsInd>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>ANTHEM</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>106 MISSION COURT SUITE 1201</AddressLine1Txt>
            <CityNm>FRANKLIN</CityNm>
            <StateAbbreviationCd>TN</StateAbbreviationCd>
            <ZIPCd>37067</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>COMPUTER SOFTWARE PROGRAMMING</ServicesDesc>
        <CompensationAmt>630090</CompensationAmt>
      </ContractorCompensationGrp>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>SPK LEWIS CONSTRUCTION</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>19 WEST 21ST STREET - SUITE 402</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10010</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>RENOVATION OF BASEMENT AND MEZZANINE</ServicesDesc>
        <CompensationAmt>388409</CompensationAmt>
      </ContractorCompensationGrp>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>ALLIED UNIVERSAL SECURITY SERVICES</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>21300 VICTORY BLVD</AddressLine1Txt>
            <CityNm>WOODLAND HILLS</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>91367</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>SECURITY SERVICES</ServicesDesc>
        <CompensationAmt>208041</CompensationAmt>
      </ContractorCompensationGrp>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>TABUSH COMPUTER CONSULTING GROUP</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>148 WEST 37TH STREET</AddressLine1Txt>
            <CityNm>NEW YORK</CityNm>
            <StateAbbreviationCd>NY</StateAbbreviationCd>
            <ZIPCd>10018</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>COMPUTER AND NETWORK SUPPORT</ServicesDesc>
        <CompensationAmt>193159</CompensationAmt>
      </ContractorCompensationGrp>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>THE DOT DIRECT</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>2424 MCGAW AVENUE</AddressLine1Txt>
            <CityNm>IRVINE</CityNm>
            <StateAbbreviationCd>CA</StateAbbreviationCd>
            <ZIPCd>92614</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>MARKETING VENDOR</ServicesDesc>
        <CompensationAmt>193045</CompensationAmt>
      </ContractorCompensationGrp>
      <CntrctRcvdGreaterThan100KCnt>5</CntrctRcvdGreaterThan100KCnt>
      <GovernmentGrantsAmt>58636</GovernmentGrantsAmt>
      <AllOtherContributionsAmt>178597</AllOtherContributionsAmt>
      <TotalContributionsAmt>237233</TotalContributionsAmt>
      <ProgramServiceRevenueGrp>
        <Desc>TUITION AND FEES</Desc>
        <BusinessCd>611310</BusinessCd>
        <TotalRevenueColumnAmt>22941175</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>22941175</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <ProgramServiceRevenueGrp>
        <Desc>AUXILIARY ACTIVITIES</Desc>
        <BusinessCd>611310</BusinessCd>
        <TotalRevenueColumnAmt>4605517</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>4605517</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <TotalProgramServiceRevenueAmt>27546692</TotalProgramServiceRevenueAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>271431</TotalRevenueColumnAmt>
        <ExclusionAmt>271431</ExclusionAmt>
      </InvestmentIncomeGrp>
      <GrossAmountSalesAssetsGrp>
        <SecuritiesAmt>6780113</SecuritiesAmt>
      </GrossAmountSalesAssetsGrp>
      <LessCostOthBasisSalesExpnssGrp>
        <SecuritiesAmt>6765058</SecuritiesAmt>
      </LessCostOthBasisSalesExpnssGrp>
      <GainOrLossGrp>
        <SecuritiesAmt>15055</SecuritiesAmt>
      </GainOrLossGrp>
      <NetGainOrLossInvestmentsGrp>
        <TotalRevenueColumnAmt>15055</TotalRevenueColumnAmt>
        <ExclusionAmt>15055</ExclusionAmt>
      </NetGainOrLossInvestmentsGrp>
      <OtherRevenueMiscGrp>
        <Desc>MISCELLANEOUS</Desc>
        <BusinessCd>611310</BusinessCd>
        <TotalRevenueColumnAmt>30237</TotalRevenueColumnAmt>
        <ExclusionAmt>30237</ExclusionAmt>
      </OtherRevenueMiscGrp>
      <OtherRevenueTotalAmt>30237</OtherRevenueTotalAmt>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>28100648</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>27546692</RelatedOrExemptFuncIncomeAmt>
        <UnrelatedBusinessRevenueAmt>0</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>316723</ExclusionAmt>
      </TotalRevenueGrp>
      <GrantsToDomesticIndividualsGrp>
        <TotalAmt>5633029</TotalAmt>
        <ProgramServicesAmt>5633029</ProgramServicesAmt>
      </GrantsToDomesticIndividualsGrp>
      <CompCurrentOfcrDirectorsGrp>
        <TotalAmt>506902</TotalAmt>
        <ManagementAndGeneralAmt>506902</ManagementAndGeneralAmt>
      </CompCurrentOfcrDirectorsGrp>
      <CompDisqualPersonsGrp>
        <TotalAmt>9219080</TotalAmt>
        <ProgramServicesAmt>8355848</ProgramServicesAmt>
        <ManagementAndGeneralAmt>863232</ManagementAndGeneralAmt>
      </CompDisqualPersonsGrp>
      <PensionPlanContributionsGrp>
        <TotalAmt>314831</TotalAmt>
        <ProgramServicesAmt>286496</ProgramServicesAmt>
        <ManagementAndGeneralAmt>28335</ManagementAndGeneralAmt>
      </PensionPlanContributionsGrp>
      <OtherEmployeeBenefitsGrp>
        <TotalAmt>717105</TotalAmt>
        <ProgramServicesAmt>617476</ProgramServicesAmt>
        <ManagementAndGeneralAmt>99629</ManagementAndGeneralAmt>
      </OtherEmployeeBenefitsGrp>
      <PayrollTaxesGrp>
        <TotalAmt>702807</TotalAmt>
        <ProgramServicesAmt>616137</ProgramServicesAmt>
        <ManagementAndGeneralAmt>86670</ManagementAndGeneralAmt>
      </PayrollTaxesGrp>
      <FeesForServicesLegalGrp>
        <TotalAmt>108108</TotalAmt>
        <ManagementAndGeneralAmt>108108</ManagementAndGeneralAmt>
      </FeesForServicesLegalGrp>
      <FeesForServicesAccountingGrp>
        <TotalAmt>93190</TotalAmt>
        <ManagementAndGeneralAmt>93190</ManagementAndGeneralAmt>
      </FeesForServicesAccountingGrp>
      <FeesForSrvcInvstMgmntFeesGrp>
        <TotalAmt>79971</TotalAmt>
        <ManagementAndGeneralAmt>79971</ManagementAndGeneralAmt>
      </FeesForSrvcInvstMgmntFeesGrp>
      <FeesForServicesOtherGrp>
        <TotalAmt>160127</TotalAmt>
        <ProgramServicesAmt>19462</ProgramServicesAmt>
        <ManagementAndGeneralAmt>140665</ManagementAndGeneralAmt>
      </FeesForServicesOtherGrp>
      <AdvertisingGrp>
        <TotalAmt>407618</TotalAmt>
        <ProgramServicesAmt>407618</ProgramServicesAmt>
      </AdvertisingGrp>
      <OfficeExpensesGrp>
        <TotalAmt>463086</TotalAmt>
        <ProgramServicesAmt>344379</ProgramServicesAmt>
        <ManagementAndGeneralAmt>118707</ManagementAndGeneralAmt>
      </OfficeExpensesGrp>
      <InformationTechnologyGrp>
        <TotalAmt>499690</TotalAmt>
        <ProgramServicesAmt>260141</ProgramServicesAmt>
        <ManagementAndGeneralAmt>239549</ManagementAndGeneralAmt>
      </InformationTechnologyGrp>
      <RoyaltiesGrp>
        <TotalAmt>7176</TotalAmt>
        <ProgramServicesAmt>7176</ProgramServicesAmt>
      </RoyaltiesGrp>
      <OccupancyGrp>
        <TotalAmt>1513469</TotalAmt>
        <ProgramServicesAmt>1362122</ProgramServicesAmt>
        <ManagementAndGeneralAmt>151347</ManagementAndGeneralAmt>
      </OccupancyGrp>
      <TravelGrp>
        <TotalAmt>264226</TotalAmt>
        <ProgramServicesAmt>200343</ProgramServicesAmt>
        <ManagementAndGeneralAmt>63883</ManagementAndGeneralAmt>
      </TravelGrp>
      <ConferencesMeetingsGrp>
        <TotalAmt>150152</TotalAmt>
        <ProgramServicesAmt>86285</ProgramServicesAmt>
        <ManagementAndGeneralAmt>63867</ManagementAndGeneralAmt>
      </ConferencesMeetingsGrp>
      <InterestGrp>
        <TotalAmt>762936</TotalAmt>
        <ProgramServicesAmt>557823</ProgramServicesAmt>
        <ManagementAndGeneralAmt>205113</ManagementAndGeneralAmt>
      </InterestGrp>
      <DepreciationDepletionGrp>
        <TotalAmt>1112826</TotalAmt>
        <ProgramServicesAmt>957030</ProgramServicesAmt>
        <ManagementAndGeneralAmt>155796</ManagementAndGeneralAmt>
      </DepreciationDepletionGrp>
      <InsuranceGrp>
        <TotalAmt>564747</TotalAmt>
        <ProgramServicesAmt>485682</ProgramServicesAmt>
        <ManagementAndGeneralAmt>79065</ManagementAndGeneralAmt>
      </InsuranceGrp>
      <OtherExpensesGrp>
        <Desc>STUDENT HOUSING</Desc>
        <TotalAmt>1932080</TotalAmt>
        <ProgramServicesAmt>1932080</ProgramServicesAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>PLAY/PRODUCTION EXPENSE</Desc>
        <TotalAmt>395488</TotalAmt>
        <ProgramServicesAmt>395488</ProgramServicesAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>STUDENT SERVICES</Desc>
        <TotalAmt>233676</TotalAmt>
        <ProgramServicesAmt>233676</ProgramServicesAmt>
      </OtherExpensesGrp>
      <OtherExpensesGrp>
        <Desc>RECRUITING</Desc>
        <TotalAmt>185373</TotalAmt>
        <ProgramServicesAmt>185373</ProgramServicesAmt>
      </OtherExpensesGrp>
      <AllOtherExpensesGrp>
        <TotalAmt>602822</TotalAmt>
        <ProgramServicesAmt>323575</ProgramServicesAmt>
        <ManagementAndGeneralAmt>279247</ManagementAndGeneralAmt>
      </AllOtherExpensesGrp>
      <TotalFunctionalExpensesGrp>
        <TotalAmt>26630515</TotalAmt>
        <ProgramServicesAmt>23267239</ProgramServicesAmt>
        <ManagementAndGeneralAmt>3363276</ManagementAndGeneralAmt>
        <FundraisingAmt>0</FundraisingAmt>
      </TotalFunctionalExpensesGrp>
      <CashNonInterestBearingGrp>
        <BOYAmt>3595676</BOYAmt>
        <EOYAmt>4504864</EOYAmt>
      </CashNonInterestBearingGrp>
      <PledgesAndGrantsReceivableGrp>
        <BOYAmt>148885</BOYAmt>
        <EOYAmt>58782</EOYAmt>
      </PledgesAndGrantsReceivableGrp>
      <AccountsReceivableGrp>
        <BOYAmt>7000231</BOYAmt>
        <EOYAmt>6378959</EOYAmt>
      </AccountsReceivableGrp>
      <PrepaidExpensesDefrdChargesGrp>
        <BOYAmt>335919</BOYAmt>
        <EOYAmt>274205</EOYAmt>
      </PrepaidExpensesDefrdChargesGrp>
      <LandBldgEquipCostOrOtherBssAmt>38609995</LandBldgEquipCostOrOtherBssAmt>
      <LandBldgEquipAccumDeprecAmt>9880168</LandBldgEquipAccumDeprecAmt>
      <LandBldgEquipBasisNetGrp>
        <BOYAmt>27332034</BOYAmt>
        <EOYAmt>28729827</EOYAmt>
      </LandBldgEquipBasisNetGrp>
      <InvestmentsPubTradedSecGrp>
        <BOYAmt>11531823</BOYAmt>
        <EOYAmt>9943409</EOYAmt>
      </InvestmentsPubTradedSecGrp>
      <OtherAssetsTotalGrp>
        <BOYAmt>0</BOYAmt>
        <EOYAmt>2263006</EOYAmt>
      </OtherAssetsTotalGrp>
      <TotalAssetsGrp>
        <BOYAmt>49944568</BOYAmt>
        <EOYAmt>52153052</EOYAmt>
      </TotalAssetsGrp>
      <AccountsPayableAccrExpnssGrp>
        <BOYAmt>772316</BOYAmt>
        <EOYAmt>2197482</EOYAmt>
      </AccountsPayableAccrExpnssGrp>
      <DeferredRevenueGrp>
        <BOYAmt>12437995</BOYAmt>
        <EOYAmt>12130840</EOYAmt>
      </DeferredRevenueGrp>
      <MortgNotesPyblScrdInvstPropGrp>
        <BOYAmt>16956323</BOYAmt>
        <EOYAmt>16327146</EOYAmt>
      </MortgNotesPyblScrdInvstPropGrp>
      <OtherLiabilitiesGrp>
        <BOYAmt>532410</BOYAmt>
        <EOYAmt>600807</EOYAmt>
      </OtherLiabilitiesGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>30699044</BOYAmt>
        <EOYAmt>31256275</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrganizationFollowsSFAS117Ind>X</OrganizationFollowsSFAS117Ind>
      <UnrestrictedNetAssetsGrp>
        <BOYAmt>18103695</BOYAmt>
        <EOYAmt>19754948</EOYAmt>
      </UnrestrictedNetAssetsGrp>
      <PermanentlyRstrNetAssetsGrp>
        <BOYAmt>1141829</BOYAmt>
        <EOYAmt>1141829</EOYAmt>
      </PermanentlyRstrNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>19245524</BOYAmt>
        <EOYAmt>20896777</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>49944568</BOYAmt>
        <EOYAmt>52153052</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <ReconcilationRevenueExpnssAmt>1470133</ReconcilationRevenueExpnssAmt>
      <NetUnrlzdGainsLossesInvstAmt>181120</NetUnrlzdGainsLossesInvstAmt>
      <OtherChangesInNetAssetsAmt>0</OtherChangesInNetAssetsAmt>
      <InfoInScheduleOPartXIIInd>X</InfoInScheduleOPartXIIInd>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>0</AccountantCompileOrReviewInd>
      <FSAuditedInd>1</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>1</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>1</FederalGrantAuditRequiredInd>
      <FederalGrantAuditPerformedInd>1</FederalGrantAuditPerformedInd>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc1039100001">
      <SchoolInd>X</SchoolInd>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1234500001" />
    <IRS990ScheduleD documentId="RetDoc1040000001">
      <CYEndwmtFundGrp>
        <BeginningYearBalanceAmt>1141829</BeginningYearBalanceAmt>
        <EndYearBalanceAmt>1141829</EndYearBalanceAmt>
      </CYEndwmtFundGrp>
      <CYMinus1YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>1138022</BeginningYearBalanceAmt>
        <InvestmentEarningsOrLossesAmt>3807</InvestmentEarningsOrLossesAmt>
        <EndYearBalanceAmt>1141829</EndYearBalanceAmt>
      </CYMinus1YrEndwmtFundGrp>
      <CYMinus2YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>1710098</BeginningYearBalanceAmt>
        <OtherExpendituresAmt>572076</OtherExpendituresAmt>
        <EndYearBalanceAmt>1138022</EndYearBalanceAmt>
      </CYMinus2YrEndwmtFundGrp>
      <CYMinus3YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>1710098</BeginningYearBalanceAmt>
        <EndYearBalanceAmt>1710098</EndYearBalanceAmt>
      </CYMinus3YrEndwmtFundGrp>
      <CYMinus4YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>1710098</BeginningYearBalanceAmt>
        <EndYearBalanceAmt>1710098</EndYearBalanceAmt>
      </CYMinus4YrEndwmtFundGrp>
      <PrmnntEndowmentBalanceEOYPct>1.00000</PrmnntEndowmentBalanceEOYPct>
      <EndowmentsHeldUnrelatedOrgInd>0</EndowmentsHeldUnrelatedOrgInd>
      <EndowmentsHeldRelatedOrgInd>0</EndowmentsHeldRelatedOrgInd>
      <LandGrp>
        <InvestmentCostOrOtherBasisAmt>11284245</InvestmentCostOrOtherBasisAmt>
        <BookValueAmt>11284245</BookValueAmt>
      </LandGrp>
      <BuildingsGrp>
        <InvestmentCostOrOtherBasisAmt>27325750</InvestmentCostOrOtherBasisAmt>
        <DepreciationAmt>9880168</DepreciationAmt>
        <BookValueAmt>17445582</BookValueAmt>
      </BuildingsGrp>
      <TotalBookValueLandBuildingsAmt>28729827</TotalBookValueLandBuildingsAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>PENSION LIABILITY</Desc>
        <Amt>450807</Amt>
      </OtherLiabilitiesOrgGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>DONOR ANNUITY OBLIGATION</Desc>
        <Amt>150000</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>600807</TotalLiabilityAmt>
      <TotalRevEtcAuditedFinclStmtAmt>22648739</TotalRevEtcAuditedFinclStmtAmt>
      <NetUnrealizedGainsInvstAmt>181120</NetUnrealizedGainsInvstAmt>
      <RevenueNotReportedAmt>181120</RevenueNotReportedAmt>
      <RevenueSubtotalAmt>22467619</RevenueSubtotalAmt>
      <OtherRevenuesNotIncludedAmt>5633029</OtherRevenuesNotIncludedAmt>
      <RevenueNotReportedFinclStmtAmt>5633029</RevenueNotReportedFinclStmtAmt>
      <TotalRevenuePerForm990Amt>28100648</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>20997486</TotExpnsEtcAuditedFinclStmtAmt>
      <ExpensesNotReportedAmt>0</ExpensesNotReportedAmt>
      <ExpensesSubtotalAmt>20997486</ExpensesSubtotalAmt>
      <OtherExpensesNotIncludedAmt>5633029</OtherExpensesNotIncludedAmt>
      <ExpensesNotRptFinclStmtAmt>5633029</ExpensesNotRptFinclStmtAmt>
      <TotalExpensesPerForm990Amt>26630515</TotalExpensesPerForm990Amt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XI, LINE 4B - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>SCHOLARSHIPS 5,633,029.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART XII, LINE 4B - OTHER ADJUSTMENTS:</FormAndLineReferenceDesc>
        <ExplanationTxt>SCHOLARSHIPS 5,633,029.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE D PART V, LINE 4</FormAndLineReferenceDesc>
        <ExplanationTxt>EARNINGS ON THE ENDOWMENT ARE INTENDED TO PROVIDE SCHOLARSHIPS FOR STUDENTS.</ExplanationTxt>
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    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="RetDoc1040400001">
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      <PolicyStmtInBrochuresEtcInd>1</PolicyStmtInBrochuresEtcInd>
      <PlcyPblczdViaBroadcastMediaInd>1</PlcyPblczdViaBroadcastMediaInd>
      <MaintainRacialCompRecsInd>1</MaintainRacialCompRecsInd>
      <MaintainScholarshipsRecsInd>1</MaintainScholarshipsRecsInd>
      <MaintainCpyOfBrochuresEtcInd>1</MaintainCpyOfBrochuresEtcInd>
      <MaintainCpyOfAllSolInd>1</MaintainCpyOfAllSolInd>
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      <DiscriminateRaceEmplmFcultyInd>0</DiscriminateRaceEmplmFcultyInd>
      <DiscriminateRaceSchsInd>0</DiscriminateRaceSchsInd>
      <DiscriminateRaceEducPlcyInd>0</DiscriminateRaceEducPlcyInd>
      <DiscriminateRaceUseOfFcltsInd>0</DiscriminateRaceUseOfFcltsInd>
      <DiscriminateRaceAthltProgInd>0</DiscriminateRaceAthltProgInd>
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      <GovernmentFinancialAidRcvdInd>1</GovernmentFinancialAidRcvdInd>
      <GovernmentFinancialAidRvkdInd>0</GovernmentFinancialAidRvkdInd>
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        <FormAndLineReferenceDesc>SCHEDULE E, PART I, LINE 3</FormAndLineReferenceDesc>
        <ExplanationTxt>ALL ENTERING STUDENTS RECEIVE A STUDENT HANDBOOK DURING REGISTRATION WHICH EXPLICITLY STATES THE ACADEMY'S POLICY. THIS INFORMATION IS ALSO DISSEMINATED IN THE ACADEMY'S CATALOG SENT TO ALL PROSPECTIVE STUDENTS AND IN ADVERTISING.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE E, PART I, LINE 6</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ACADEMY IS PROVIDED STUDENT FINANCIAL AID UNDER THE FOLLOWING PROGRAMS: 1. FEDERAL PELL GRANT PROGRAM 2. FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT PROGRAM 3. FEDERAL FAMILY EDUCATIONAL LOANS PROGRAM 4. FEDERAL WORK STUDY PROGRAM 5. NEW YORK STATE TUITION ASSISTANCE PROGRAM</ExplanationTxt>
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    </IRS990ScheduleE>
    <IRS990ScheduleI documentId="RetDoc1041900001">
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      <GrantsOtherAsstToIndivInUSGrp>
        <GrantTypeTxt>STUDENT SCHOLARSHIPS</GrantTypeTxt>
        <RecipientCnt>658</RecipientCnt>
        <CashGrantAmt>5633029</CashGrantAmt>
        <ValuationMethodUsedDesc>FMV</ValuationMethodUsedDesc>
        <NonCashAssistanceDesc>TUITION REDUCTION</NonCashAssistanceDesc>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>SCHOLARSHIPS ARE AWARDED ON THE BASIS OF MERIT AND NEED. FIRST YEAR STUDENTS MAY BE AWARDED SPECIAL ASSISTANCE BASED ON NEED AND MERIT AS DETERMINED BY THE APPLICANT'S APPLICATION AND AUDITION. SECOND YEAR AND ACADEMY COMPANY STUDENTS MAY APPLY FOR SCHOLARSHIPS BY WRITING TO THE ACADEMY'S SCHOLARSHIP COMMITTEE WHICH MAKES ALL SCHOLARSHIP DECISIONS. DETAILS ARE AVAILABLE UPON REQUEST.</ExplanationTxt>
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      <SupplementalNonqualRtrPlanInd>0</SupplementalNonqualRtrPlanInd>
      <EquityBasedCompArrngmInd>0</EquityBasedCompArrngmInd>
      <CompBasedOnRevenueOfFlngOrgInd>0</CompBasedOnRevenueOfFlngOrgInd>
      <CompBsdOnRevRelatedOrgsInd>0</CompBsdOnRevRelatedOrgsInd>
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        <PersonNm>SUSAN ZECH</PersonNm>
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        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
        <OtherCompensationRltdOrgsAmt>0</OtherCompensationRltdOrgsAmt>
        <DeferredCompensationFlngOrgAmt>8953</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>7992</NontaxableBenefitsFilingOrgAmt>
        <NontaxableBenefitsRltdOrgsAmt>0</NontaxableBenefitsRltdOrgsAmt>
        <TotalCompensationFilingOrgAmt>318791</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
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      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>JOEL BLOCH</PersonNm>
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        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
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        <DeferredCompensationFlngOrgAmt>0</DeferredCompensationFlngOrgAmt>
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        <TotalCompensationFilingOrgAmt>233938</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
        <CompReportPrior990RltdOrgsAmt>0</CompReportPrior990RltdOrgsAmt>
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      <RltdOrgOfficerTrstKeyEmplGrp>
        <PersonNm>DAVID SULLIVAN</PersonNm>
        <TitleTxt>SR. DIRECTOR OF INSTRUCTION</TitleTxt>
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        <CompensationBasedOnRltdOrgsAmt>0</CompensationBasedOnRltdOrgsAmt>
        <BonusFilingOrganizationAmount>0</BonusFilingOrganizationAmount>
        <BonusRelatedOrganizationsAmt>0</BonusRelatedOrganizationsAmt>
        <OtherCompensationFilingOrgAmt>0</OtherCompensationFilingOrgAmt>
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        <DeferredCompensationFlngOrgAmt>4728</DeferredCompensationFlngOrgAmt>
        <DeferredCompRltdOrgsAmt>0</DeferredCompRltdOrgsAmt>
        <NontaxableBenefitsFilingOrgAmt>7992</NontaxableBenefitsFilingOrgAmt>
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        <TotalCompensationFilingOrgAmt>170350</TotalCompensationFilingOrgAmt>
        <TotalCompensationRltdOrgsAmt>0</TotalCompensationRltdOrgsAmt>
        <CompReportPrior990FilingOrgAmt>0</CompReportPrior990FilingOrgAmt>
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          <BusinessName>
            <BusinessNameLine1Txt>DEWITT STERN GROUP</BusinessNameLine1Txt>
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        </NameOfInterested>
        <RelationshipDescriptionTxt>BOARD TRUSTEE IS PART OWNER OF DEWITT STERN GROUP</RelationshipDescriptionTxt>
        <TransactionAmt>150059</TransactionAmt>
        <TransactionDesc>INSURANCE PREMIUMS</TransactionDesc>
        <SharingOfRevenuesInd>0</SharingOfRevenuesInd>
      </BusTrInvolveInterestedPrsnGrp>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>A COPY OF THE FORM 990 IS REVIEWED AND APPROVED BY THE FINANCE COMMITTEE AND DISTRIBUTED TO BOARD MEMBERS FOR REVIEW PRIOR TO FILING WITH THE IRS.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>EACH TRUSTEE AND OFFICER ANNUALLY SIGN A STATEMENT AFFIRMING THEY HAVE RECEIVED, READ AND UNDERSTAND, AND AGREE TO COMPLY WITH THE CONFLICT OF INTEREST POLICY. PRIOR TO INITIAL ELECTION TO THE BOARD OF TRUSTEES AND ANNUALLY THEREAFTER, EACH MEMBER IS REQUIRED TO DISCLOSE IN WRITING ANY CONFLICTS OF INTEREST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15</FormAndLineReferenceDesc>
        <ExplanationTxt>THE CHAIRMAN OF THE BOARD OF TRUSTEES REVIEWS THE PERFORMANCE OF THE CHIEF EXECUTIVE OFFICER TOGETHER WITH THE EXECUTIVE COMMITTEE OF THE BOARD IN ORDER TO DETERMINE WAGE AND BENEFITS FOR THE CEO, ALSO TAKING INTO ACCOUNT BENCHMARK DATA THAT IS AVAILABLE. THE BOARD IS AWARE OF THE COMPENSATION LEVELS FOR OTHER SENIOR MANAGEMENT WHICH IS INCLUDED WITHIN THE ANNUAL BUDGET APPROVED BY THE BOARD; DECISIONS GOVERNING THEIR COMPENSATION ARE UNDER THE PURVIEW OF THE CEO.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ACADEMY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC DURING REGULAR BUSINESS HOURS AT THE ACADEMY'S ADDRESS AFTER RECEIPT OF WRITTEN REQUEST TO EXAMINE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XII, LINE 2C</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION DID NOT CHANGE EITHER ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE YEAR.</ExplanationTxt>
      </SupplementalInformationDetail>
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  </ReturnData>
</Return>