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          <AddressLine2>RESTRICTED</AddressLine2>
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          <State>RESTRICTED</State>
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        <Depreciation>386004</Depreciation>
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        <Description>MUSEUM COLLECTIONS</Description>
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        <MethodOfValuation>C</MethodOfValuation>
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      <InvestmentsProgramRelated>
        <Description>CONSTRUCTION IN PROGRESS</Description>
        <BookValue>154753</BookValue>
        <MethodOfValuation>C</MethodOfValuation>
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      <InvestmentsProgramRelated>
        <Description>MUSEUM AT PARK</Description>
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        <MethodOfValuation>C</MethodOfValuation>
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      <OtherLiabilities>
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        <Amount>2390373</Amount>
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      <TotalOfAmounts>2906050</TotalOfAmounts>
      <Form990ScheduleDPartXIV>
        <ReturnReference>PART III, LINE 4:</ReturnReference>
        <Explanation>THE ORGANIZATION'S COLLECTION OF OVER 7,000 WORKS OF NATIVE AMERICAN FINE ART, FROM MORE THAN 120 NATIVE AMERICAN NATIONS, IS ON PUBLIC EXHIBITION IN THE IAIA MUSEUM. ADDITIONALLY, THE COLLECTION IS UTILIZED TO AID IN THE FURTHERANCE OF SCHOLARLY RESEARCH.</Explanation>
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      <Form990ScheduleDPartXIV>
        <Identifier>DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS:</Identifier>
        <ReturnReference>PART V, LINE 4:</ReturnReference>
        <Explanation>THE RETURN ON THE INVESTMENT OF ENDOWMENT ASSETS IS INTENDED TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO THE PROGRAMS.</Explanation>
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    </IRS990ScheduleD>
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      <NondiscriminatoryPolicyStmt>1</NondiscriminatoryPolicyStmt>
      <PolicyStatementInBrochuresEtc>1</PolicyStatementInBrochuresEtc>
      <PolicyPublViaBroadcastMedia>1</PolicyPublViaBroadcastMedia>
      <MaintRacialCompositionRecords>1</MaintRacialCompositionRecords>
      <MaintScholarshipsRecords>1</MaintScholarshipsRecords>
      <MaintCopiesOfBrochuresEtc>1</MaintCopiesOfBrochuresEtc>
      <MaintCopiesOfAllSolicitations>1</MaintCopiesOfAllSolicitations>
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      <DiscriminateRaceAdmissPolicies>0</DiscriminateRaceAdmissPolicies>
      <DiscriminateRaceEmplmnFaculty>0</DiscriminateRaceEmplmnFaculty>
      <DiscriminateRaceScholarships>0</DiscriminateRaceScholarships>
      <DiscriminateRaceEducPolicies>0</DiscriminateRaceEducPolicies>
      <DiscriminateRaceUseOfFclts>0</DiscriminateRaceUseOfFclts>
      <DiscriminateRaceAthleticProg>0</DiscriminateRaceAthleticProg>
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        <ReturnReference>SCHEDULE E, PART I, LINE 3</ReturnReference>
        <Explanation>THE ORGANIZATION'S RACIALLY NONDISCRIMINATORY POLICY TOWARD STUDENTS IS STATED IN THE SCHOOL'S CATALOG AND ON THE IAIA WEBSITE. THE SCHOOL ALSO PUBLICIZES ITS POLICY IN THE MEDIA (NEWSPAPER, RADIO, ETC.).</Explanation>
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      <Form990ScheduleEPartII>
        <Identifier>EXPLANATION OF GOVERNMENT FINANCIAL ASSISTANCE</Identifier>
        <ReturnReference>SCHEDULE E, PART I, LINE 6</ReturnReference>
        <Explanation>FEDERAL AND STATE AID ARE AVAILABLE AND INCLUDE THE FEDERAL PELL GRANT, NEW MEXCIO STUDENT INCENTIVE GRANTS, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS AND TRIBAL HIGHER EDUCATION SCHOLARSHIPS. ELIGIBILITY IS GOVERNED BY USING THE FEDERAL NEEDS ANALYSIS METHODOLOGY AS SET FORTH BY THE US DEPARTMENT OF EDUCATION.</Explanation>
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        <GrossRevenueTotalEvents>51919</GrossRevenueTotalEvents>
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      <TotalNbrOfOtherOrganizations>0</TotalNbrOfOtherOrganizations>
      <Form990ScheduleIPartIII>
        <TypeOfGrant>TUITION SCHOLARSHIPS</TypeOfGrant>
        <NumberOfRecipients>275</NumberOfRecipients>
        <AmountOfCashGrant>134100</AmountOfCashGrant>
      </Form990ScheduleIPartIII>
      <Form990ScheduleIPartIII>
        <TypeOfGrant>MERIT SCHOLARSHIPS</TypeOfGrant>
        <NumberOfRecipients>305</NumberOfRecipients>
        <AmountOfCashGrant>192350</AmountOfCashGrant>
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      <Form990ScheduleIPartIII>
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        <NumberOfRecipients>294</NumberOfRecipients>
        <AmountOfCashGrant>1745303</AmountOfCashGrant>
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        <Identifier>PROCEDURE FOR MONITORING GRANTS IN THE U.S.:</Identifier>
        <ReturnReference>PART I, LINE 2:</ReturnReference>
        <Explanation>SCHEDULE I, PART I, LINE 2: ELIGIBILITY FOR THE SCHOOL'S SCHOLARSHIPS AND FELLOWSHIPS IS DETERMINED USING THE FEDERAL NEEDS ANALYSIS METHODOLOGY AS SET FORTH BY THE U.S. DEPARTMENT OF EDUCATION. THE MONIES USED TO GRANT ASSISTANCE TO THE STUDENTS COME OUT OF THE GENERAL OPERATING FUND FROM UNRESTRICTED DONATIONS.</Explanation>
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      <CompensationSurvey>X</CompensationSurvey>
      <BoardOrCommitteeApproval>X</BoardOrCommitteeApproval>
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      <SupplementalNonqualRetirePlan>0</SupplementalNonqualRetirePlan>
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        <BonusFilingOrg>0</BonusFilingOrg>
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      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 11</ReturnReference>
        <Explanation>THE AUDIT COMMITTEE, MADE UP OF MEMBERS OF THE BOARD, REVIEWS FORM 990 PRIOR TO FILING. THE FULL BOARD IS ALSO PROVIDED A COPY OF THE FORM 990 TO REVIEW PRIOR TO FILING.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 12C</ReturnReference>
        <Explanation>HUMAN RESOURCES MONITORS ALL EXTERNAL INDEPENDENT CONTRACTORS TO ENSURE COMPLIANCE WITH THE POLICY. IF A CONFLICT ARISES, THE PERSON WITH SUCH CONFLICT IS NOT ALLOWED TO VOTE ON THE TRANSACTION.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION B, LINE 15</ReturnReference>
        <Explanation>DATA ASSEMBLED FROM INDEPENDENT SOURCES (INTERNET, INDUSTRY PUBLICATIONS, ETC) IS USED TO DETERMINE THE APPROPRIATE BENCHMARKS FOR COMPENSATION FOR ALL LEVELS, WHICH IS THEN REVIEWED AND APPROVED BY THE BOARD WHICH IS INDEPENDENT. THE PROCESS IS DOCUMENTED AND WAS LAST DONE IN 2012.</Explanation>
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      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 18</ReturnReference>
        <Explanation>THE ORGANIZATION'S FORM 1023 AND FORM 990 ARE AVAILABLE FOR PUBLIC INSPECTION, UPON REQUEST, BY CONTACTING THE INSTITUTE'S FINANCIAL SERVICES OFFICE IN SANTA FE, NEW MEXICO.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <ReturnReference>FORM 990, PART VI, SECTION C, LINE 19</ReturnReference>
        <Explanation>THE CONFLICT OF INTEREST POLICY IS AVILABLE FROM THE HUMAN RESOURCES OFFICE DURING REGULAR BUSINESS HOURS. THE ORGANIZATION'S GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE FROM THE FINANCIAL SERVICES OFFICE DURING REGULAR BUSINESS HOURS.</Explanation>
      </GeneralExplanation>
      <GeneralExplanation>
        <Identifier>CHANGES IN NET ASSETS OR FUND BALANCES:</Identifier>
        <ReturnReference>FORM 990, PART XI, LINE 5:</ReturnReference>
        <Explanation>NET UNREALIZED GAINS ON INVESTMENTS: 21,193.</Explanation>
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          <BusinessNameLine1>INSTITUTE OF AMERICAN INDIAN ARTS TRUST</BusinessNameLine1>
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        <AddressUS>
          <AddressLine1>83 AVAN NU PO</AddressLine1>
          <City>SANTA FE</City>
          <State>NM</State>
          <ZIPCode>87508</ZIPCode>
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      <Form990ScheduleRPartII>
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          <BusinessNameLine1>INSTITUTE OF AMERICAN INDIAN ARTS FOUNDATION</BusinessNameLine1>
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          <City>SANTA FE</City>
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</Return>