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        <NamePerson>Keith Brown</NamePerson>
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        <NamePerson>Thomas E Lynch</NamePerson>
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        <NamePerson>E Clay Shaw Jr</NamePerson>
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        <NamePerson>Nell McMillan Lewis</NamePerson>
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        <NamePerson>Mike Jackson</NamePerson>
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        <NamePerson>Martin R Press</NamePerson>
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        <NamePerson>George L Hanbury II PhD</NamePerson>
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      <Form990ScheduleJPartIII>
        <ReturnReference>Part I, Line 1a</ReturnReference>
        <Explanation>Supplemental Compensation Information: A housing allowance is provided to the president of the University. This allowance is fully taxable to the recipient. The University pays for club dues on behalf of certain executives. These amounts are treated as taxable to the employee and included in his or her compensation.</Explanation>
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    </IRS990ScheduleJ>
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        <AnyResearchAgreements>0</AnyResearchAgreements>
        <PrcntgePrvtBusinessUseByOthers>0.00000</PrcntgePrvtBusinessUseByOthers>
        <PercentageOfPrvtBusinessReUBI>0.00000</PercentageOfPrvtBusinessReUBI>
        <TotalPrivateBusinessUse>0.00000</TotalPrivateBusinessUse>
        <PostIssuanceComplianceProcdrs>1</PostIssuanceComplianceProcdrs>
      </Form990ScheduleKPartIII>
      <Form990ScheduleKPartIV>
        <Form8038TFiled>0</Form8038TFiled>
        <VariableRateIssue>0</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>0</HedgeIdentifiedInBooksAndRecds>
        <GrossProceedsInvestedInGIC>0</GrossProceedsInvestedInGIC>
        <GrossProceedsInvested>0</GrossProceedsInvested>
        <ExceptionToRebate>0</ExceptionToRebate>
      </Form990ScheduleKPartIV>
      <Form990ScheduleKPartIV>
        <Form8038TFiled>0</Form8038TFiled>
        <VariableRateIssue>0</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>0</HedgeIdentifiedInBooksAndRecds>
        <GrossProceedsInvestedInGIC>0</GrossProceedsInvestedInGIC>
        <GrossProceedsInvested>0</GrossProceedsInvested>
        <ExceptionToRebate>0</ExceptionToRebate>
      </Form990ScheduleKPartIV>
      <Form990ScheduleKPartIV>
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        <VariableRateIssue>0</VariableRateIssue>
        <HedgeIdentifiedInBooksAndRecds>0</HedgeIdentifiedInBooksAndRecds>
        <GrossProceedsInvestedInGIC>0</GrossProceedsInvestedInGIC>
        <GrossProceedsInvested>0</GrossProceedsInvested>
        <ExceptionToRebate>0</ExceptionToRebate>
      </Form990ScheduleKPartIV>
    </IRS990ScheduleK>
    <IRS990ScheduleL documentId="RetDoc1042800001">
      <Form990ScheduleLPartIII>
        <AmountOfGrant>136231</AmountOfGrant>
        <TypeOfAssistance>Tuition Waivers/Scholarships for family members</TypeOfAssistance>
      </Form990ScheduleLPartIII>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NameBusiness>
            <BusinessNameLine1>ReBro Inc</BusinessNameLine1>
          </NameBusiness>
        </NameOfInterestedPerson>
        <Relationship>Entity owned by family member of Andrew DiBattista, Trustee</Relationship>
        <AmountOfTransaction>1877926</AmountOfTransaction>
        <DescriptionOfTransaction>ReBro provides storage services to Nova Southeastern University.</DescriptionOfTransaction>
        <SharingOfRevenues>0</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NameBusiness>
            <BusinessNameLine1>Paramount Coffee Services Inc</BusinessNameLine1>
          </NameBusiness>
        </NameOfInterestedPerson>
        <Relationship>Albert J. Miniaci,Trustee, is an officer of Paramount Coffee Services, Inc.</Relationship>
        <AmountOfTransaction>227619</AmountOfTransaction>
        <DescriptionOfTransaction>Paramount supplies coffee products and services to the University.</DescriptionOfTransaction>
        <SharingOfRevenues>0</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NameBusiness>
            <BusinessNameLine1>Law firm of GunsterYoakley &amp; Stewart PA</BusinessNameLine1>
          </NameBusiness>
        </NameOfInterestedPerson>
        <Relationship>Martin R. Press,Trustee, is a shareholder of Gunster, Yoakley &amp; Stewart, PA</Relationship>
        <AmountOfTransaction>111453</AmountOfTransaction>
        <DescriptionOfTransaction>Gunster, Yoakley &amp; Stewart provides legal services to the University.</DescriptionOfTransaction>
        <SharingOfRevenues>0</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NamePerson>Donna Lippman</NamePerson>
        </NameOfInterestedPerson>
        <Relationship>Family member of Fred Lippman, Key Employee</Relationship>
        <AmountOfTransaction>14286</AmountOfTransaction>
        <DescriptionOfTransaction>Employment at Nova Southeastern University.</DescriptionOfTransaction>
        <SharingOfRevenues>0</SharingOfRevenues>
      </Form990ScheduleLPartIV>
      <Form990ScheduleLPartIV>
        <NameOfInterestedPerson>
          <NameBusiness>
            <BusinessNameLine1>Raymond G Ferrero III</BusinessNameLine1>
          </NameBusiness>
        </NameOfInterestedPerson>
        <Relationship>Family member of Ray Ferrero, Jr., Key Employee</Relationship>
        <AmountOfTransaction>94718</AmountOfTransaction>
        <DescriptionOfTransaction>Employment at Nova Southeastern University.</DescriptionOfTransaction>
        <SharingOfRevenues>0</SharingOfRevenues>
      </Form990ScheduleLPartIV>
    </IRS990ScheduleL>
    <IRS990ScheduleM documentId="RetDoc1042900001">
      <WorksOfArt>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>7</NumberOfContributions>
        <NoncashContribsRptdF990>0</NoncashContribsRptdF990>
      </WorksOfArt>
      <BooksAndPublications>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NoncashContribsRptdF990>0</NoncashContribsRptdF990>
      </BooksAndPublications>
      <ClothingAndHouseholdGoods>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NoncashContribsRptdF990>8000</NoncashContribsRptdF990>
        <MethodOfDeterminingRevenues>Appraisal</MethodOfDeterminingRevenues>
      </ClothingAndHouseholdGoods>
      <BoatsAndPlanes>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>1</NumberOfContributions>
        <NoncashContribsRptdF990>0</NoncashContribsRptdF990>
      </BoatsAndPlanes>
      <Collectibles>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>4</NumberOfContributions>
      </Collectibles>
      <ScientificSpecimens>
        <NonCashCheckbox>X</NonCashCheckbox>
        <NumberOfContributions>1</NumberOfContributions>
      </ScientificSpecimens>
      <OtherNonCashContributionsTable>
        <NonCashCheckbox>X</NonCashCheckbox>
        <Description>See Part II</Description>
        <NumberOfContributions>83</NumberOfContributions>
        <NoncashContribsRptdF990>0</NoncashContribsRptdF990>
      </OtherNonCashContributionsTable>
      <NumberOf8283Received>1</NumberOf8283Received>
      <AnyPropertyThatMustBeHeld>0</AnyPropertyThatMustBeHeld>
      <ReviewProcessUnusualNCGifts>1</ReviewProcessUnusualNCGifts>
      <ThirdPartiesUsed>0</ThirdPartiesUsed>
      <Form990ScheduleMPartII>
        <Identifier>Method for Determining Number of Contributors:</Identifier>
        <ReturnReference>Part I, Column (b):</ReturnReference>
        <Explanation>NSU reports the number of contributions received throughout the year for each type of property listed. Form 990, Schedule M, Part I,Other Types of Property Line 25 includes donations for various fundraising events and silent auctions, such as flowers center pieces and gift cards.</Explanation>
      </Form990ScheduleMPartII>
      <Form990ScheduleMPartII>
        <Identifier>Non Reporting of Revenue:</Identifier>
        <ReturnReference>Part I, Line 33:</ReturnReference>
        <Explanation>The contribution amount listed in lc was not reported as revenue, as permitted under generally accepted accounting principles. A zero amount was reported because the organization does not capitalize its collections, as allowed under ASC 958-360-25, formerly known as SFAS 116. In other instances where no amounts were reported in column (c), contribution revenue was not recorded based on immateriality.</Explanation>
      </Form990ScheduleMPartII>
    </IRS990ScheduleM>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <GeneralExplanation>
        <Identifier>Contribution of cars, boats, airplanes and other vehicles:</Identifier>
        <ReturnReference>Part V, Line 7h</ReturnReference>
        <Explanation>A foundation donated a marine vessel to Nova Southeastern University's Oceanographic Center and National Coral Reef Institute to promote the center's mssion and enhance it's research initiatives on the reefs of South Florida.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>Form 990, Part VI, Section A, line 1</ReturnReference>
        <Explanation>Explain delegation of authority to an executive committee by the governing body: In accordance to Nova Southeastern University bylaws, the Executive Committee, established by the Board of Trustees (BOT), consists of the Chair of the BOT, the Vice Chair of the BOT, the President of the University, the Chairs of the Standing Committees and such other members of the BOT as designated by the Chair. The Executive Committee has the power to transact all business delegated to it by the BOT and shall, during periods between meetings of the BOT and for all matters of an urgent nature for which it is impractical or impossible to delay decisions until the next meeting of the BOT, have the power to transact all business of the BOT in the management of the Corporation, subject to any limitations otherwise imposed on the BOT as a whole. The Executive Committee shall have such additional powers as conferred upon it by the BOT, and shall report in writing to the BOT following each meeting.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>Form 990, Part VI, Section A, line 4</ReturnReference>
        <Explanation>Significant changes to governing documents: Nova Southeastern University's bylaws, dated December 5, 2011 comprise the following significant changes from the University's bylaws dated January 29, 2010: - The University Chancellor was removed as a trustee and officer from Nova Southeastern University - The title and responsibilities of the Chief Executive Officer of the University was changed from University Chancellor to the President - The minimum number of members of all committees established by the Board, including the Finance Audit, and Investment Committee, was changed from three to five.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>Form 990, Part VI, Section B, line 11</ReturnReference>
        <Explanation>Describe the process used by the organization to review this Form 990: The Form 990 is prepared by the Nova Southeastern Univeristy finance staff and presented to the University's outside tax accountants (KPMG, LLP) for review. After review by the outside tax accountants, a draft copy of the Form 990 and all required schedules are provided for review to the Vice President of Finance/Chief Financial Officer, the Executive Vice President/Chief Operating Officer, and the President/Chief Executive Officer of the University. Upon completion of the internal review, the final Form 990 and all required schedules are made available to the Board of Trustees prior to filing.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>Form 990, Part VI, Section B, line 12c</ReturnReference>
        <Explanation>Describe how the organization monitors and enforces compliance with it's conflict of interest policy: Nova Southeastern University (NSU) maintains a written Code of Conduct Policy which provides an overview of requirements in complying with applicable laws, rules, regulations, and adhering to ethical standards by its officers, employees, representatives, and agents in conducting NSU business. To aid in the identification of and correction of any actual or perceived violations of the University's Code of Conduct Policy, NSU has a written Compliance Plan. The Compliance Plan not only explains the compliance obligations of all NSU colleagues, it contains specific directives for key personnel and committees to uphold the Compliance Plan and ensure that their team members have sufficient information to comply with the applicable laws, regulations, and policies, as well as the resources to resolve ethical dilemmas. In addition to the foregoing, each year, the University asks the governing Board of Trustees, officers, directors, and key employees to respond to a questionnaire and disclose on a yearly basis. The questionnaire is designed to collect information and monitor compliance.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>Form 990, Part VI, Section B, line 15</ReturnReference>
        <Explanation>Process for determining compensation of Officers and Key positions: Each year a comparative analysis is performed by a compensation analyst in human resources and is provided to the compensation committee appointed by the Chairman of the Board of NSU. The analysis is reported to the Executive Committee and then to the Board of Trustees of the University.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>Form 990, Part VI, Section C, line 19</ReturnReference>
        <Explanation>Nova Southeastern University's audited financial statements are part of its Annual Report which is made available on its website at http://www.nova.edu/cwis/fop/. In addition, the public at large may receive a copy of the report 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: -2,495,566.</Explanation>
      </GeneralExplanation>
    </IRS990ScheduleO>
    <IRS990ScheduleR documentId="RetDoc1043400001">
      <Form990ScheduleRPartI>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>NSU Grande Oaks LLC</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>3201 W Rolling Hills Circle</AddressLine1>
          <City>Fort Lauderdale</City>
          <State>FL</State>
          <ZIPCode>33328</ZIPCode>
        </AddressUS>
        <EIN>204811801</EIN>
        <PrimaryActivities>Golf Course</PrimaryActivities>
        <LegalDomicileState>FL</LegalDomicileState>
        <TotalIncome>4659697</TotalIncome>
        <EOYAssets>35153185</EOYAssets>
        <DirectControllingEntityName>
          <BusinessNameLine1>Nova Southeastern University Inc</BusinessNameLine1>
        </DirectControllingEntityName>
      </Form990ScheduleRPartI>
      <Form990ScheduleRPartI>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>NSU Park Plaza LLC</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>3301 College Ave</AddressLine1>
          <City>Fort Lauderdale</City>
          <State>FL</State>
          <ZIPCode>33314</ZIPCode>
        </AddressUS>
        <EIN>030380632</EIN>
        <PrimaryActivities>Commercial Real Estate</PrimaryActivities>
        <LegalDomicileState>FL</LegalDomicileState>
        <TotalIncome>900000</TotalIncome>
        <EOYAssets>5700000</EOYAssets>
        <DirectControllingEntityName>
          <BusinessNameLine1>Nova Southeastern University Inc</BusinessNameLine1>
        </DirectControllingEntityName>
      </Form990ScheduleRPartI>
      <Form990ScheduleRPartII>
        <NameOfDisregardedEntity>
          <BusinessNameLine1>NSU Health Professions Division Foundation Inc</BusinessNameLine1>
        </NameOfDisregardedEntity>
        <AddressUS>
          <AddressLine1>3200 South University Dr</AddressLine1>
          <City>Fort Lauderdale</City>
          <State>FL</State>
          <ZIPCode>33328</ZIPCode>
        </AddressUS>
        <EIN>650456144</EIN>
        <PrimaryActivities>Support</PrimaryActivities>
        <LegalDomicileState>FL</LegalDomicileState>
        <ExemptCodeSection>501 (c) (3)</ExemptCodeSection>
        <PublicCharityStatus>Line 11d, III-O</PublicCharityStatus>
        <DirectControllingEntityName>
          <BusinessNameLine1>Nova Southeastern University Inc</BusinessNameLine1>
        </DirectControllingEntityName>
        <ControlledOrg>0</ControlledOrg>
      </Form990ScheduleRPartII>
      <Form990ScheduleRPartIV>
        <NameOfRelatedOrg>
          <BusinessNameLine1>NSU Guaranty Insurance Company LTD</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressForeign>
          <AddressLine1>c/o Willis Mgt PO Box 30600 KY1 12</AddressLine1>
          <City>Grand Cayman</City>
          <Country>CJ</Country>
          <PostalCode>KY1-1203</PostalCode>
        </AddressForeign>
        <PrimaryActivity>Insurance Captive</PrimaryActivity>
        <LegalDomicileForeignCountry>CJ</LegalDomicileForeignCountry>
        <DirectControllingEntityName>
          <BusinessNameLine1>Nova Southeastern University Inc</BusinessNameLine1>
        </DirectControllingEntityName>
        <TypeOfEntity>C</TypeOfEntity>
        <ShareOfTotalIncome>100</ShareOfTotalIncome>
        <ShareOfEOYAssets>100</ShareOfEOYAssets>
        <PercentageOwnership>1.00000</PercentageOwnership>
      </Form990ScheduleRPartIV>
      <Form990ScheduleRPartIV>
        <NameOfRelatedOrg>
          <BusinessNameLine1>The Pointe Corp Office Park Prop Owners Assn Inc</BusinessNameLine1>
        </NameOfRelatedOrg>
        <AddressUS>
          <AddressLine1>3301 College Ave</AddressLine1>
          <City>Fort Lauderdale</City>
          <State>FL</State>
          <ZIPCode>33314</ZIPCode>
        </AddressUS>
        <EIN>460743930</EIN>
        <PrimaryActivity>Prop Owner's Assn (no activity)</PrimaryActivity>
        <LegalDomicileState>FL</LegalDomicileState>
        <DirectControllingEntityName>
          <BusinessNameLine1>Nova Southeastern University Inc</BusinessNameLine1>
        </DirectControllingEntityName>
        <TypeOfEntity>C</TypeOfEntity>
        <ShareOfTotalIncome>100</ShareOfTotalIncome>
        <ShareOfEOYAssets>100</ShareOfEOYAssets>
        <PercentageOwnership>1.00000</PercentageOwnership>
      </Form990ScheduleRPartIV>
      <ReceiptOfIntAnnRentsRoyalties>0</ReceiptOfIntAnnRentsRoyalties>
      <GiftGrantOrCapContrToOtherOrg>0</GiftGrantOrCapContrToOtherOrg>
      <GiftGrantOrCapContrFrOtherOrg>0</GiftGrantOrCapContrFrOtherOrg>
      <LoansOrGuaranteesToOtherOrg>0</LoansOrGuaranteesToOtherOrg>
      <LoansOrGuaranteesFromOtherOrg>0</LoansOrGuaranteesFromOtherOrg>
      <SaleOfAssetsToOtherOrg>0</SaleOfAssetsToOtherOrg>
      <PurchaseOfAssetsFromOtherOrg>0</PurchaseOfAssetsFromOtherOrg>
      <ExchangeOfAssets>0</ExchangeOfAssets>
      <RentalOfFacilitiesToOtherOrgs>0</RentalOfFacilitiesToOtherOrgs>
      <RentalOfFacilitiesFrOtherOrgs>0</RentalOfFacilitiesFrOtherOrgs>
      <PerformOfServicesForOtherOrgs>0</PerformOfServicesForOtherOrgs>
      <PerformOfServicesByOtherOrgs>0</PerformOfServicesByOtherOrgs>
      <SharingOfFacilities>0</SharingOfFacilities>
      <SharingOfPaidEmployees>0</SharingOfPaidEmployees>
      <ReimbursementPaidToOtherOrg>0</ReimbursementPaidToOtherOrg>
      <ReimbursementPaidByOtherOrg>0</ReimbursementPaidByOtherOrg>
      <OtherTransferToOtherOrg>1</OtherTransferToOtherOrg>
      <OtherTransferFromOtherOrg>1</OtherTransferFromOtherOrg>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>NSU Guaranty Insurance Company LTD</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>Q</TransactionType>
        <AmountInvolved>4135295</AmountInvolved>
        <MethodOfAmtDetermination>premiums paid</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
      <TransactionsRelatedOrgsTable>
        <NameOfOtherOrganization>
          <BusinessNameLine1>NSU Guaranty Insurance Company LTD</BusinessNameLine1>
        </NameOfOtherOrganization>
        <TransactionType>R</TransactionType>
        <AmountInvolved>722546</AmountInvolved>
        <MethodOfAmtDetermination>claims reimbursed</MethodOfAmtDetermination>
      </TransactionsRelatedOrgsTable>
    </IRS990ScheduleR>
  </ReturnData>
</Return>