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      <TotalOtherCompensation>29680</TotalOtherCompensation>
      <NumberIndividualsGT100K>2</NumberIndividualsGT100K>
      <FormersListed>0</FormersListed>
      <TotalCompGT150K>1</TotalCompGT150K>
      <CompensationFromOtherSources>0</CompensationFromOtherSources>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>HOLABIRD &amp; ROOT LLC</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>140 SOUTH DEARBORN</AddressLine1>
            <City>CHICAGO</City>
            <State>IL</State>
            <ZIPCode>60603</ZIPCode>
          </AddressUS>
        </AddressOfContractor>
        <DescriptionOfServices>ARCHITECT</DescriptionOfServices>
        <Compensation>672633</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>ROYALL &amp; COMPANY</BusinessNameLine1>
          </NameBusiness>
        </NameOfContractor>
        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>1920 EAST PARHAM ROAD</AddressLine1>
            <City>RICHMOND</City>
            <State>VA</State>
            <ZIPCode>23228</ZIPCode>
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        </AddressOfContractor>
        <DescriptionOfServices>STUDENT RECRUITMENT</DescriptionOfServices>
        <Compensation>231843</Compensation>
      </ContractorCompensation>
      <ContractorCompensation>
        <NameOfContractor>
          <NameBusiness>
            <BusinessNameLine1>KONE INC</BusinessNameLine1>
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        <AddressOfContractor>
          <AddressUS>
            <AddressLine1>1000 PARKVIEW BOULEVARD</AddressLine1>
            <City>LOMBARD</City>
            <State>IL</State>
            <ZIPCode>60148</ZIPCode>
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        </AddressOfContractor>
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        <Compensation>144279</Compensation>
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      <NumberOfContractorsGT100K>3</NumberOfContractorsGT100K>
      <FundraisingEvents>74962</FundraisingEvents>
      <GovernmentGrants>1801166</GovernmentGrants>
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        <Description>TUITION &amp; FEES</Description>
        <BusinessCode>611310</BusinessCode>
        <TotalRevenueColumn>12724608</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>12724608</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>BOOKSTORE &amp; OTHER</Description>
        <BusinessCode>611310</BusinessCode>
        <TotalRevenueColumn>75867</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>75867</RelatedOrExemptFunctionIncome>
      </ProgramServiceRevenue>
      <ProgramServiceRevenue>
        <Description>USDE EXP REIMB</Description>
        <BusinessCode>611310</BusinessCode>
        <TotalRevenueColumn>1685</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>1685</RelatedOrExemptFunctionIncome>
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      <TotalProgramServiceRevenue>12802160</TotalProgramServiceRevenue>
      <InvestmentIncome>
        <TotalRevenueColumn>310307</TotalRevenueColumn>
        <ExclusionAmount>310307</ExclusionAmount>
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      <GrossRents>
        <Real>1139160</Real>
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      <LessRentalExpenses>
        <Real>1757211</Real>
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      <RentalIncomeOrLoss>
        <Real>-618051</Real>
      </RentalIncomeOrLoss>
      <NetRentalIncomeOrLoss>
        <TotalRevenueColumn>-618051</TotalRevenueColumn>
        <ExclusionAmount>-618051</ExclusionAmount>
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        <Other>1000000</Other>
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        <Securities>18679</Securities>
        <Other>0</Other>
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      <NetGainOrLossInvestments>
        <TotalRevenueColumn>18679</TotalRevenueColumn>
        <ExclusionAmount>18679</ExclusionAmount>
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      <NetIncomeFromFundraisingEvents>
        <TotalRevenueColumn>-19090</TotalRevenueColumn>
        <ExclusionAmount>-19090</ExclusionAmount>
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        <TotalRevenueColumn>14523233</TotalRevenueColumn>
        <RelatedOrExemptFunctionIncome>12802160</RelatedOrExemptFunctionIncome>
        <UnrelatedBusinessRevenue>0</UnrelatedBusinessRevenue>
        <ExclusionAmount>-308155</ExclusionAmount>
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      <GrantsToDomesticIndividuals>
        <Total>987175</Total>
        <ProgramServices>987175</ProgramServices>
      </GrantsToDomesticIndividuals>
      <CompCurrentOfficersDirectors>
        <Total>354437</Total>
        <ProgramServices>51982</ProgramServices>
        <ManagementAndGeneral>170554</ManagementAndGeneral>
        <Fundraising>131901</Fundraising>
      </CompCurrentOfficersDirectors>
      <OtherSalariesAndWages>
        <Total>3488837</Total>
        <ProgramServices>3051394</ProgramServices>
        <ManagementAndGeneral>280455</ManagementAndGeneral>
        <Fundraising>156988</Fundraising>
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      <PensionPlanContributions>
        <Total>69487</Total>
        <ProgramServices>57743</ProgramServices>
        <ManagementAndGeneral>11744</ManagementAndGeneral>
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      <OtherEmployeeBenefits>
        <Total>177953</Total>
        <ProgramServices>144369</ProgramServices>
        <ManagementAndGeneral>12134</ManagementAndGeneral>
        <Fundraising>21450</Fundraising>
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      <PayrollTaxes>
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        <ManagementAndGeneral>26341</ManagementAndGeneral>
        <Fundraising>21381</Fundraising>
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      <FeesForServicesLegal>
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        <ManagementAndGeneral>80532</ManagementAndGeneral>
      </FeesForServicesLegal>
      <FeesForServicesAccounting>
        <Total>52250</Total>
        <ManagementAndGeneral>52250</ManagementAndGeneral>
      </FeesForServicesAccounting>
      <FeesForServicesInvstMgmntFees>
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        <ManagementAndGeneral>50300</ManagementAndGeneral>
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      <Advertising>
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        <ProgramServices>455760</ProgramServices>
        <ManagementAndGeneral>2756</ManagementAndGeneral>
        <Fundraising>37646</Fundraising>
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      <OfficeExpenses>
        <Total>739986</Total>
        <ProgramServices>639769</ProgramServices>
        <ManagementAndGeneral>82231</ManagementAndGeneral>
        <Fundraising>17986</Fundraising>
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      <Occupancy>
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        <ProgramServices>221387</ProgramServices>
        <ManagementAndGeneral>28159</ManagementAndGeneral>
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      <Travel>
        <Total>148778</Total>
        <ProgramServices>147219</ProgramServices>
        <ManagementAndGeneral>196</ManagementAndGeneral>
        <Fundraising>1363</Fundraising>
      </Travel>
      <ConferencesMeetings>
        <Total>5505</Total>
        <ProgramServices>2768</ProgramServices>
        <ManagementAndGeneral>2737</ManagementAndGeneral>
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      <DepreciationDepletion>
        <Total>590707</Total>
        <ProgramServices>556709</ProgramServices>
        <ManagementAndGeneral>33998</ManagementAndGeneral>
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      <OtherExpenses>
        <Description>BAD DEBT EXPENSE</Description>
        <Total>1847035</Total>
        <ProgramServices>1847035</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>BOOKSTORE EXPENSES</Description>
        <Total>718443</Total>
        <ProgramServices>718443</ProgramServices>
      </OtherExpenses>
      <OtherExpenses>
        <Description>RECRUITMENT INCENTIVES</Description>
        <Total>229556</Total>
        <ProgramServices>101993</ProgramServices>
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      <AllOtherExpenses>
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        <ProgramServices>293684</ProgramServices>
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        <Fundraising>90070</Fundraising>
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      <TotalFunctionalExpenses>
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        <Fundraising>606348</Fundraising>
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        <EOY>8063563</EOY>
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        <EOY>20369</EOY>
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      <LandBuildingsEquipmentBasis>44657688</LandBuildingsEquipmentBasis>
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      <LandBuildingsEquipmentBasisNet>
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        <EOY>32712804</EOY>
      </LandBuildingsEquipmentBasisNet>
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        <EOY>11367726</EOY>
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        <BOY>1036520</BOY>
        <EOY>1093420</EOY>
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      <TotalAssets>
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        <EOY>61545916</EOY>
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      <AccountsPayableAccruedExpenses>
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        <EOY>604820</EOY>
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      <DeferredRevenue>
        <BOY>104338</BOY>
        <EOY>0</EOY>
      </DeferredRevenue>
      <TaxExemptBondLiabilities>
        <BOY>100000</BOY>
        <EOY>100000</EOY>
      </TaxExemptBondLiabilities>
      <OtherLiabilities>
        <BOY>875796</BOY>
        <EOY>1726917</EOY>
      </OtherLiabilities>
      <TotalLiabilities>
        <BOY>1780298</BOY>
        <EOY>2431737</EOY>
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      <FollowSFAS117>X</FollowSFAS117>
      <UnrestrictedNetAssets>
        <BOY>55594535</BOY>
        <EOY>57772631</EOY>
      </UnrestrictedNetAssets>
      <TemporarilyRestrictedNetAssets>
        <BOY>535596</BOY>
        <EOY>1341548</EOY>
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      <TotalNetAssetsFundBalances>
        <BOY>56130131</BOY>
        <EOY>59114179</EOY>
      </TotalNetAssetsFundBalances>
      <TotalLiabNetAssetsFundBalances>
        <BOY>57910429</BOY>
        <EOY>61545916</EOY>
      </TotalLiabNetAssetsFundBalances>
      <InfoInScheduleOPartXI>X</InfoInScheduleOPartXI>
      <ReconcilationRevenueExpenses>3509739</ReconcilationRevenueExpenses>
      <ReconcilationOtherChanges>-525691</ReconcilationOtherChanges>
      <MethodOfAccountingAccrual>X</MethodOfAccountingAccrual>
      <AccountantCompileOrReview>0</AccountantCompileOrReview>
      <FSAudited>1</FSAudited>
      <AuditCommittee>1</AuditCommittee>
      <FinancialStatementConsolidated>X</FinancialStatementConsolidated>
      <FederalGrantAuditRequired>1</FederalGrantAuditRequired>
      <FederalGrantAuditPerformed>1</FederalGrantAuditPerformed>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc1039100001">
      <School170b1Aii>X</School170b1Aii>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <ContributorInfo>
        <ContributorNumber>RESTRICTED</ContributorNumber>
        <ContributorNameBusiness>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorNameBusiness>
        <ContributorAddressUS>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorAddressUS>
        <AggregateContributions>RESTRICTED</AggregateContributions>
      </ContributorInfo>
    </IRS990ScheduleB>
    <IRS990ScheduleD documentId="RetDoc1040000001">
      <Land>
        <OtherCostOrOtherBasis>19020591</OtherCostOrOtherBasis>
        <BookValue>19020591</BookValue>
      </Land>
      <Buildings>
        <OtherCostOrOtherBasis>21457155</OtherCostOrOtherBasis>
        <Depreciation>8268524</Depreciation>
        <BookValue>13188631</BookValue>
      </Buildings>
      <Equipment>
        <OtherCostOrOtherBasis>2699614</OtherCostOrOtherBasis>
        <Depreciation>2422504</Depreciation>
        <BookValue>277110</BookValue>
      </Equipment>
      <OtherLandBuildings>
        <OtherCostOrOtherBasis>1480328</OtherCostOrOtherBasis>
        <Depreciation>1253856</Depreciation>
        <BookValue>226472</BookValue>
      </OtherLandBuildings>
      <TotalOfBookValueLandBuildings>32712804</TotalOfBookValueLandBuildings>
      <OtherLiabilities>
        <Description>TENANT SECURITY DEPOSITS</Description>
        <Amount>22158</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>OBLIGATION UNDER SWAP AGREEMENT</Description>
        <Amount>1677989</Amount>
      </OtherLiabilities>
      <OtherLiabilities>
        <Description>DUE TO SUBSIDIARY</Description>
        <Amount>26770</Amount>
      </OtherLiabilities>
      <TotalOfAmounts>1726917</TotalOfAmounts>
    </IRS990ScheduleD>
    <IRS990ScheduleE documentId="RetDoc1040400001">
      <NondiscriminatoryPolicyStmt>1</NondiscriminatoryPolicyStmt>
      <PolicyStatementInBrochuresEtc>1</PolicyStatementInBrochuresEtc>
      <PolicyPublViaBroadcastMedia>1</PolicyPublViaBroadcastMedia>
      <MaintRacialCompositionRecords>1</MaintRacialCompositionRecords>
      <MaintScholarshipsRecords>1</MaintScholarshipsRecords>
      <MaintCopiesOfBrochuresEtc>1</MaintCopiesOfBrochuresEtc>
      <MaintCopiesOfAllSolicitations>1</MaintCopiesOfAllSolicitations>
      <DiscriminateRaceStudentsRights>0</DiscriminateRaceStudentsRights>
      <DiscriminateRaceAdmissPolicies>0</DiscriminateRaceAdmissPolicies>
      <DiscriminateRaceEmplmnFaculty>0</DiscriminateRaceEmplmnFaculty>
      <DiscriminateRaceScholarships>0</DiscriminateRaceScholarships>
      <DiscriminateRaceEducPolicies>0</DiscriminateRaceEducPolicies>
      <DiscriminateRaceUseOfFclts>0</DiscriminateRaceUseOfFclts>
      <DiscriminateRaceAthleticProg>0</DiscriminateRaceAthleticProg>
      <DiscriminateRaceOtherActy>0</DiscriminateRaceOtherActy>
      <GovernmentFinancialAidReceived>1</GovernmentFinancialAidReceived>
      <GovernmentFinancialAidRevoked>0</GovernmentFinancialAidRevoked>
      <ComplianceWithRevProc7550>1</ComplianceWithRevProc7550>
      <Form990ScheduleEPartII>
        <Identifier>EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION</Identifier>
        <ReturnReference>SCHEDULE E, PART I, LINE 3</ReturnReference>
        <Explanation>THE UNIVERSITY HAS A NONDISCRIMINATION POLICY. A COPY IS AVAILABLE UPON REQUEST.</Explanation>
      </Form990ScheduleEPartII>
      <Form990ScheduleEPartII>
        <Identifier>EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE</Identifier>
        <ReturnReference>SCHEDULE E, PART I, LINE 6</ReturnReference>
        <Explanation>THE UNIVERSITY RECEIVES STATE AND FEDERAL ASSISTANCE INCLUDING FINANCIAL AID THAT IS USED TO FURTHER THE EXEMPT PURPOSE OF THE UNIVERSITY.</Explanation>
      </Form990ScheduleEPartII>
    </IRS990ScheduleE>
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      <EventsInformation>
        <NameOfEvent1>SCHOLAR DINNER</NameOfEvent1>
        <GrossReceiptsEvent1>86482</GrossReceiptsEvent1>
        <CharitableContributionsEvent1>74962</CharitableContributionsEvent1>
        <GrossRevenueEvent1>11520</GrossRevenueEvent1>
        <RentFacilityCostsEvent1>11850</RentFacilityCostsEvent1>
        <EntertainmentEvent1>750</EntertainmentEvent1>
        <OtherDirectExpensesEvent1>18010</OtherDirectExpensesEvent1>
        <GrossReceiptsTotal>86482</GrossReceiptsTotal>
        <CharitableContributionsTotal>74962</CharitableContributionsTotal>
        <GrossRevenueTotalEvents>11520</GrossRevenueTotalEvents>
        <RentFacilityCostsTotalEvents>11850</RentFacilityCostsTotalEvents>
        <EntertainmentTotalEvents>750</EntertainmentTotalEvents>
        <OtherDirectExpensesTotalEvents>18010</OtherDirectExpensesTotalEvents>
        <DirectExpenseSummaryEvents>30610</DirectExpenseSummaryEvents>
        <NetIncomeSummary>-19090</NetIncomeSummary>
      </EventsInformation>
    </IRS990ScheduleG>
    <IRS990ScheduleI documentId="RetDoc1041900001">
      <RecordsMaintained>1</RecordsMaintained>
      <Form990ScheduleIPartIII>
        <TypeOfGrant>SCHOLARSHIPS</TypeOfGrant>
        <NumberOfRecipients>495</NumberOfRecipients>
        <AmountOfCashGrant>987175</AmountOfCashGrant>
      </Form990ScheduleIPartIII>
      <Form990ScheduleIPartIV>
        <Explanation>MONITORING PROCEDURES SCHEDULE I PART I #2 DECISIONS REGARDING FINANCIAL AID ARE MADE BY THE STUDENT FINANCIAL AID OFFICE. THE GOAL IS TO PROVIDE ADEQUATE FINANCIAL AID TO APPLICANTS WHO, WITHOUT SUCH AID, WOULD BE UNABLE TO ATTEND THE UNIVERSITY.</Explanation>
      </Form990ScheduleIPartIV>
    </IRS990ScheduleI>
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      <BoardOrCommitteeApproval>X</BoardOrCommitteeApproval>
      <SeverancePayment>0</SeverancePayment>
      <SupplementalNonqualRetirePlan>0</SupplementalNonqualRetirePlan>
      <EquityBasedCompArrangement>0</EquityBasedCompArrangement>
      <CompBasedOnRevenueOfFilingOrg>0</CompBasedOnRevenueOfFilingOrg>
      <CompBasedOnRevenueRelatedOrgs>0</CompBasedOnRevenueRelatedOrgs>
      <CompBasedNetEarningsFilingOrg>0</CompBasedNetEarningsFilingOrg>
      <CompBasedNetEarningsRelateOrgs>0</CompBasedNetEarningsRelateOrgs>
      <AnyNonFixedPayments>0</AnyNonFixedPayments>
      <InitialContractException>0</InitialContractException>
      <Form990ScheduleJPartII>
        <NamePerson>DR M WASIULLAH KHAN</NamePerson>
        <BaseCompensationFilingOrg>170769</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>0</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>15390</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>186159</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
      <Form990ScheduleJPartII>
        <NamePerson>DR MADHU JAIN</NamePerson>
        <BaseCompensationFilingOrg>148269</BaseCompensationFilingOrg>
        <CompBasedOnRelatedOrgs>0</CompBasedOnRelatedOrgs>
        <BonusFilingOrg>0</BonusFilingOrg>
        <BonusRelatedOrgs>0</BonusRelatedOrgs>
        <OtherCompensationFilingOrg>0</OtherCompensationFilingOrg>
        <OtherCompensationRelatedOrgs>0</OtherCompensationRelatedOrgs>
        <DeferredCompFilingOrg>0</DeferredCompFilingOrg>
        <DeferredCompRelatedOrgs>0</DeferredCompRelatedOrgs>
        <NontaxableBenefitsFilingOrg>14290</NontaxableBenefitsFilingOrg>
        <NontaxableBenefitsRelatedOrgs>0</NontaxableBenefitsRelatedOrgs>
        <TotalCompensationFilingOrg>162559</TotalCompensationFilingOrg>
        <TotalCompensationRelatedOrgs>0</TotalCompensationRelatedOrgs>
        <CompReportPrior990FilingOrg>0</CompReportPrior990FilingOrg>
        <CompReportPrior990RelatedOrgs>0</CompReportPrior990RelatedOrgs>
      </Form990ScheduleJPartII>
    </IRS990ScheduleJ>
    <IRS990ScheduleK documentId="RetDoc1053100001">
      <Form990ScheduleKPartI>
        <IssuerName>
          <BusinessNameLine1>ILLINOIS FINANCE AUTHORITY</BusinessNameLine1>
        </IssuerName>
        <IssuerEIN>861091967</IssuerEIN>
        <CUSIPNumber>45203HLT7</CUSIPNumber>
        <DateIssued>2010-12-22</DateIssued>
        <IssuePrice>30000000</IssuePrice>
        <DescriptionOfPurpose>SEE PART VI OF SCHEDULE K</DescriptionOfPurpose>
        <Defeased>0</Defeased>
        <OnBehalfOfIssuer>0</OnBehalfOfIssuer>
        <PoolFinancing>0</PoolFinancing>
      </Form990ScheduleKPartI>
      <Form990ScheduleKPartII>
        <TotalProceeds>30000000</TotalProceeds>
        <IssuanceCostsFromProceeds>397250</IssuanceCostsFromProceeds>
        <AmountUnspent>29602750</AmountUnspent>
        <CurrentRefunding>0</CurrentRefunding>
        <AdvanceRefunding>0</AdvanceRefunding>
        <FinalAllocationMade>0</FinalAllocationMade>
        <AdequateBooksAndRecdsMaintaind>1</AdequateBooksAndRecdsMaintaind>
      </Form990ScheduleKPartII>
      <Form990ScheduleKPartIII>
        <OwningBondFinancedProperty>0</OwningBondFinancedProperty>
        <AnyLeaseArrangements>0</AnyLeaseArrangements>
        <MngmentCntrctBondFinancdPrprty>1</MngmentCntrctBondFinancdPrprty>
        <EngageBondCounselContracts>1</EngageBondCounselContracts>
        <AnyResearchAgreements>0</AnyResearchAgreements>
        <PostIssuanceComplianceProcdrs>1</PostIssuanceComplianceProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIV>
        <Form8038TFiled>0</Form8038TFiled>
        <VariableRateIssue>1</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>0</HedgeIdentifiedInBooksAndRecds>
        <GrossProceedsInvestedInGIC>0</GrossProceedsInvestedInGIC>
        <GrossProceedsInvested>0</GrossProceedsInvested>
        <ExceptionToRebate>0</ExceptionToRebate>
      </Form990ScheduleKPartIV>
      <Form990ScheduleKPartVI>
        <Identifier>SCHEDULE K, PART I, COLUMN F</Identifier>
        <ReturnReference>DESCRIPTION OF PURPOSE</ReturnReference>
        <Explanation>THE PROCEEDS OF THE BONDS WILL BE USED PRIMARILY TO PAY FOR THE COSTS OF VARIOUS CAPITAL IMPROVEMENTS AT THE BORROWER'S EDUCATIONAL FACILITIES LOCATED IN CHICAGO, ILLINOIS.</Explanation>
      </Form990ScheduleKPartVI>
    </IRS990ScheduleK>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 11</ReturnReference>
        <Explanation>FORM 990 IS FIRST PREPARED BY THE UNIVERSITY'S CPA FIRM AND THEN IT IS REVIEWED BY THE PROVOST AND CHANCELLOR. A COPY IS PROVIDED TO THE BOARD PRIOR TO FILING WITH THE IRS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 15A</ReturnReference>
        <Explanation>COMPENSATION FOR THE CHANCELLOR AND PROVIST IS REVIEWED AND APPROVED ANNUALLY AS PART OF THE BUDGET REVIEW PROCESS. THERE ARE NO OTHER OFFICERS OR KEY EMPLOYEES THAT RECEIVE COMPENSATION OTHER THAN THE CHANCELLOR AND PROVOST.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>FORM 990, PART VI, SECTION C, LINE 19: THE UNIVERSITY FURNISHES THESE DOCUMENTS UPON REQUEST.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>CHANGES IN NET ASSETS OR FUND BALANCES:</Identifier>
        <ReturnReference>FORM 990, PART XI, LINE 5:</ReturnReference>
        <Explanation>NET UNREALIZED LOSSES ON INVESTMENTS: -525,691.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc1043400001">
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>EWU FOUNDATION INC</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>819 SOUTH WABASH AVENUE</AddressLine1>
          <City>CHICAGO</City>
          <State>IL</State>
          <ZIPCode>60605</ZIPCode>
        </AddressUS>
        <EIN>452954962</EIN>
        <PrimaryActivities>TITLE HOLDING COMPANY</PrimaryActivities>
        <LegalDomicileState>IL</LegalDomicileState>
        <ExemptCodeSection>501(C)(2)</ExemptCodeSection>
        <DirectControllingEntityName>
          <BusinessNameLine1>EAST WEST UNIVERSITY</BusinessNameLine1>
        </DirectControllingEntityName>
        <ControlledOrg>1</ControlledOrg>
      </Form990ScheduleRPartII>
      <ReceiptOfIntAnnRentsRoyalties>0</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>0</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>0</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>0</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>0</LoansOrGuaranteesFromOtherOrg>
      <SaleOfAssetsToOtherOrg>1</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>0</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>0</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>0</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>1</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>0</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>0</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>0</SharingOfFacilities>
      <SharingOfPaidEmployees>0</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>0</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>0</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>0</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>0</OtherTransferFromOtherOrg>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>EWU FOUNDATION INC</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>F</TransactionType>
        <AmountInvolved>1000000</AmountInvolved>
        <MethodOfAmtDetermination>IMPROVEMENTS - FMV</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
    </IRS990ScheduleR>
  </ReturnData>
</Return>