2025-06-12T16:53:40-05:00 2024-07-31 420714325 RSM US LLP 80 CITY SQUARE BOSTON MA 02129 990 2023-08-01 980013023 THE AMERICAN UNIVERSITY OF PARIS AMER 0140620700 5 BOULEVARD DE LA TOUR-MAUBOURG PARIS FR 75007 MARIE-LAURE NAVE CFO & VP FOR FINANCE & ADMIN. 0140620700 2025-06-12 1 0 KAREN LO P01434915 6179129000 2025-06-12 2023 2025-03-06 01:10:19Z THE AMERICAN UNIVERSITY OF PARIS INC SONYA STEPHENS 5 BOULEVARD DE LA TOUR-MAUBOURG PARIS FR 75007 49101921 0 X WWW.AUP.EDU X 1962 DE THE AMERICAN UNIVERSITY OF PARIS, INC. ("AUP") IS A HIGHER EDUCATION INSTITUTION THAT PROVIDES AMERICAN UNIVERSITY DEGREES, SPECIFICALLY BACHELOR OF ARTS, BACHELOR OF SCIENCE AND MASTER'S DEGREES, THAT ARE RECOGNIZED BY THE DEPARTMENT OF EDUCATION OF THE STATE OF DELAWARE AND ACCREDITED BY MIDDLE STATES COMMISSION. 22 22 536 24 0 0 1509256 1591504 37597326 45990964 359613 349540 602377 715771 40068572 48647779 5605514 7089560 0 0 20119550 23688017 0 0 1368164 16949549 16895125 42674613 47672702 -2606041 975077 89285976 86279646 57762032 53728099 31523944 32551547 X THE AMERICAN UNVERSITY OF PARIS, INC. (AUP) IS A HIGHER EDUCATION INSTITUTION THAT PROVIDES BACHELOR'S AND MASTER'S DEGREES, MIDDLE STATES ACCREDITED. 0 0 31443302 6088797 40977553 PROVIDE HIGHER EDUCATION TO STUDENTS SEEKING A BACHELOR'S DEGREE (BA & BS). THE TOTAL NUMBER OF STUDENTS FOR THE UNDERGRADUATE PROGRAM IS 1,139 IN THE FISCAL YEAR ENDED JULY 31, 2024. AUP PROVIDES HOUSING TO STUDENTS ENROLLED FOR THE 1ST YEAR AT THE UNIVERSITY THROUGH ITS WHOLLY OWNED ENTITY, SAS AUP HOUSING, WHICH WAS INCORPORATED IN JULY 2021 TO MANAGE THE STUDENT HOUSING ACTIVITY IN FRANCE. 3229909 1000763 3657393 PROVIDE HIGHER EDUCATION TO STUDENTS SEEKING A MASTER'S DEGREE (MA & MS). THE TOTAL NUMBER OF STUDENTS FOR THE GRADUATE PROGRAM IS 117 IN THE FISCAL YEAR ENDED JULY 31, 2024. 2041544 OTHER AUXILIARY SERVICES AND STUDENT PROGRAMS 34673211 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 0 0 1 13 1 0 1 FR 0 0 0 0 0 0 0 0 0 0 X 22 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 DE MA MI NH NJ NY SC X MARIE-LAURE NAVE CFO & VP FOR FINANCE & ADMINISTRATION 0140620700 5 BOULEVARD DE LA TOUR-MAUBOURG PARIS FR 75007 X RICHARD ASTHALTER TRUSTEE 5.75 0.25 X 0 0 0 MARTIN AVIDAN TRUSTEE 4.00 4.00 X 0 0 0 EUAN BAIRD TRUSTEE 0.75 0.25 X 0 0 0 ELIZABETH BALLANTINE TRUSTEE 0.75 0.25 X 0 0 0 ANDREW BATINOVICH TRUSTEE 1.75 0.25 X 0 0 0 GARTH BRAY TRUSTEE 1.75 0.25 X 0 0 0 ELLIOTT BURDETTE TRUSTEE 0.75 0.25 X 0 0 0 MELANIE CISSONE TRUSTEE 3.75 0.25 X 0 0 0 BEATRICE COINTREAU TRUSTEE (UNTIL NOV. 2023) 1.25 0.25 X 0 0 0 MARGARET CONKLIN TRUSTEE 4.75 0.25 X 0 0 0 SANDRA CRAIG TRUSTEE 1.75 0.25 X 0 0 0 KRYSTIAN CZERNIECKI TRUSTEE 2.25 0.25 X 0 0 0 CHRISTINA DE LABOUCHERE TRUSTEE 3.00 0.25 X 0 0 0 RAYMOND HENZE III TRUSTEE (UNTIL MAY 2024) 2.75 0.25 X 0 0 0 LEE HUEBNER TRUSTEE 3.75 0.25 X 0 0 0 GILES KEMP TRUSTEE 2.75 0.25 X 0 0 0 SILVER MILLER TRUSTEE 6.00 0.25 X 0 0 0 JANE ROSS TRUSTEE 1.75 0.25 X 0 0 0 JACQUELINE ROUTIER TRUSTEE 1.75 0.25 X 0 0 0 CAROL SUTTON LEWIS TRUSTEE (FROM FEB. 2024) 3.40 0.65 X 0 0 0 PHILIPPE TARTAVULL TRUSTEE 1.75 0.25 X 0 0 0 DORIS JOAN DAUGHNEY CHAIRWOMAN 14.75 0.25 X X 0 0 0 ACHIM KLUBER VICE-CHAIRMAN 4.75 0.25 X X 0 0 0 JOHN KLEIN TREASURER 4.75 0.25 X X 0 0 0 BARBARA RENO SECRETARY 7.75 0.25 X X 0 0 0 SONYA STEPHENS PRESIDENT 39.75 0.25 X 0 0 0 VALERIE FODE EVP FINANCE & ADMINISTRATION 39.75 0.25 X 0 0 0 MARC MONTHEARD VP SECURITY OPERATIONS & STUDENT SERVICES 39.75 0.25 X 0 0 0 TIM ROGERS VP & DIR. OF ENROLLMENT MANAGEMENT 39.75 0.25 X 0 0 0 ROBERT JOHNSON VP IT (UNTIL MARCH 2024) 39.75 0.25 X 0 0 0 HANNAH WESTLEY DEAN OF ACADEMIC AFFAIRS (FROM AUG. 2023) 39.75 0.25 X 0 0 0 JEAN-CHARLES KHLAUT DIR. OF ACCOUNTING AND CONTROLLER 40.00 0.00 X 0 0 0 KILIAN ORDELHEIDE DIR. OF COMMUNICATIONS AND OUTREACH 40.00 0.00 X 0 0 0 WADDICK DOYLE PROFESSOR 40.00 0.00 X 0 0 0 DANIEL GUNN PROFESSOR 40.00 0.00 X 0 0 0 STEPHEN SAWYER PROFESSOR 40.00 0.00 X 0 0 0 CELESTE SCHENCK PRESIDENT (UNTIL JUNE 2022) 0.00 0.00 X 0 0 0 WILLIAM FISHER DEAN OF ACADEMIC AFFAIRS (UNTIL JULY 2023) 0.00 0.00 X 0 0 0 2970465 0 70364 13 1 1 0 G7 BUSINESS SOLUTIONS LIMITED BLOCK B LAWES HOUSE 66-68 BRISTOL PORTISHEAD UK BS20 6QG SOFTWARE DEVELOPMENT 601731 UNIT 4 BUSINESS SOFTWARE FRANCE TOUR CBX 1 PASSERELLE DES REFLETS FR 92400 SOFTWARE DEVELOPMENT 451686 CELIA WELCOME 8 RUE DE MOUTIER AUBERVILLIERS FR 93300 SECURITY 294237 ETANEUF PROPRET 73 RUE DU CHATEAU BOULOGNEBILLANCOURT FR 92100 CLEANING 292791 KAIZEN SECURITE PRIVEE 41/43 RUE DE CRONSTADT PARIS FR 75015 SECURITY 233438 13 440292 1151212 1591504 TUITION AND FEES 611600 44634946 44634946 STUDENT PROGRAMS 611600 836734 836734 AUXILIARY ENTERPRISES 611600 519284 519284 45990964 734810 734810 385270 -385270 -385270 -385270 99117 68872 30245 30245 VARIOUS STUDENT REVENU 900099 474873 474873 CHARGEBACK OF LOAN STA 900099 184411 184411 26242 26242 685526 48647779 46676490 0 379785 7089560 7089560 1774380 564616 1209764 14188903 12562716 1179003 447184 121822 121822 390171 320540 57741 11890 7212741 5938292 1083582 190867 293771 16427 277344 212237 212237 1917262 265686 1425972 225604 401914 238948 3271 159695 1477781 455669 916776 105336 778798 468943 307884 1971 31 31 3925086 176242 3746178 2666 783315 571308 131740 80267 756293 502776 140497 113020 4475887 4030039 445848 167695 1061 166634 STUDENT ACTIVITIES 511773 511773 LOCAL TAXES 472370 129624 317296 25450 BOOK SUBSCRIPTIONS 118490 113616 2803 2071 MEMBERSHIPS EXP. 76448 45906 28430 2112 525974 547647 -21673 47672702 34673211 11631327 1368164 8682956 9619625 19624123 21494340 470085 534253 55496 43465 1409159 1349880 65165513 22385437 45944915 42780076 13099242 10458007 89285976 86279646 7345576 9375832 15223343 14552269 16236350 14413973 18956763 15386025 57762032 53728099 X 26103796 26696378 5420148 5855169 31523944 32551547 89285976 86279646 X 975077 52526 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8766812 2185524 165463 25442 711992 10380365 8258544 1165296 120685 777713 8766812 9751014 834438 6763 1000000 1333100 8258544 8204299 2963153 7868 751405 672901 9751014 6859453 2226868 5809 838154 49677 8204299 0.36350 0.09520 0.54130 0 1 1 11110069 11110069 42181781 15324902 26856879 5363663 5261821 101842 6510000 1798714 4711286 42780076 DEPOSITS AND INVESTMENTS 1689685 LEASE RIGHT-OF-USE ASSET, NET 8768322 10458007 CAPITAL LEASE OBLIGATIONS 6550374 LEASE RIGHT OF USE LIABILITY 8835651 15386025 PART V, LINE 4: THE ENDOWMENT FUNDS ARE USED IN FURTHERANCE OF THE EXEMPT PURPOSE OF THE SCHOOL FOR ITS DAILY OPERATIONS. DESIGNATED FUNDS ARE TO BE USED ACCORDING TO THEIR DESIGNATED PURPOSE. NON-DESIGNATED FUNDS ARE SUBJECT TO BOARD DECISION. PART V, LINES 3A AND 3B: AS OF JULY 31, 2024 THE AMERICAN UNIVERSITY OF PARIS FOUNDATION, A RELATED ORGANIZATION, HELD AND ADMINISTERED THE BALANCE OF ITS ENDOWMENT. 1 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE AMERICAN UNIVERSITY PUBLISHES ITS NON-DISCRIMINATORY POLICY IN ITS VIEWBOOK AND IN ITS CATALOG. IT IS ALSO CLEARLY PRINTED ON APPLICATION FORMS AND ON OUR WEBSITE. SCHEDULE E, PART I, LINE 4 THE UNIVERSITY DOES NOT MAINTAIN RECORDS ON RACIAL COMPOSITION AS IT IS ILLEGAL TO DO SO IN FRANCE WITHOUT EXPRESS AGREEMENT OF THE PERSON(S) CONCERNED. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES TUITION SUPPORT FOR MILITARY VETERANS AND THEIR DEPENDENTS UNDER THE POST 9/11 GI BILL (CHAPTER 33) AND THE VA SURVIVORS AND DEPENDENTS EDUCATION ASSISTANCE PROGRAM (CHAPTER 35) FROM THE U.S. DEPARTMENT OF VETERAN AFFAIRS. 1 EUROPE (INCLUDING ICELAND & GREENLAND) 1 523 PROGRAM SERVICES, ADMINISTRATION, AND FUNDRAISING UNIVERSITY OPERATIONS 39689088 EUROPE (INCLUDING ICELAND & GREENLAND) GRANTMAKING 7089560 1 523 0 0 1 523 46778648 0 46778648 FINANCIAL AID EUROPE (INCLUDING ICELAND & GREENLAND) 541 7089560 FINANCIAL AID CREDITED TO STUDENT ACCOUNTS FMV 0 0 1 0 1 1 PART I, LINE 2: POTENTIAL GRANT RECIPIENTS COMPLETE APPLICATIONS TO BE ELIGIBLE FOR VARIOUS FORMS OF FINANCIAL AID AWARDS. THE FINANCIAL AID OFFICE REVIEWS APPLICATIONS TO DETERMINE ELIGIBILITY REQUIREMENTS, WHICH ARE MAINLY A COMBINATION OF FINANCIAL RESOURCES AND ACADEMIC MERIT AS EVINCED THROUGH OUR ADMISSIONS APPLICATION PROCESS. THE FINANCIAL AID OFFICE ADDITIONALLY VERIFIES THAT OTHER REQUIREMENTS, SUCH AS GPA, CREDIT HOURS, GOOD ACADEMIC STANDING AND ENROLLMENT STATUS ARE MET. STUDENT APPLICANTS RECEIVE AN AWARD LETTER IDENTIFYING THE AWARD AMOUNTS. AWARDS ARE APPLIED AS A CREDIT TO STUDENT ACCOUNTS EACH SEMESTER. THE REGISTRAR'S OFFICE PROVIDES INFORMATION SUCH AS WITHDRAWAL NOTICES TO HELP THE FINANCIAL AID OFFICE TO MONITOR PERIODICALLY THE ELIGIBILITY CRITERIA. X 1 1 X X X 0 0 0 1 0 0 0 0 0 PART I, LINES 1A AND 5A, AND PART II: THE UNIVERSITY HAS NOT PROVIDED DETAILS ON COMPENSATION, ON HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE, AND ON INCENTIVES DUE TO FRENCH PRIVACY LAW CONCERNS. FORM 990, PART I, LINE 5 AND PART V, LINE 2A: THE AMOUNTS OF THESE TWO LINES DO NOT MATCH BECAUSE THE NUMBER OF EMPLOYEES REPORTED IN PART I, LINE 5 INCLUDES EMPLOYEES IN FRANCE PLUS US-BASED EMPLOYEES (INCLUDED IN FORM W-3) REPORTED IN PART V, LINE 2A. FORM 990, PART III, LINE 4A: THE HOUSING ACTIVITY IS MANAGED BY A SEPARATE ENTITY, SAS AUP HOUSING, WHICH IS FULLY OWNED BY AUP. ITS OPERATIONS ARE CONSOLIDATED IN THE FINANCLAL STATEMENTS OF AUP FOR THE CURRENT FISCAL YEAR AND PRESENT A NEGATIVE RESULT OF 191,496 IN EUROS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 AND ITS SCHEDULES AND ALL OTHER ATTACHMENTS ARE REVIEWED AND COMMENTED UPON BY RSM US LLP (AUP'S EXTERNAL TAX PREPARER/ADVISOR) DURING THEIR PREPARATION BY THE FINANCE DEPARTMENT OF AUP AND BEFORE FILING. THEY ARE ALSO REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES PRIOR TO FILING. COPIES OF THE FORM 990 ARE MADE AVAILABLE FOR REVIEW TO ALL MEMBERS OF THE AUP BOARD OF TRUSTEES PRIOR TO ITS SUBMISSION WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C A TRUSTEE WHO HAS A KNOWN MATERIAL FINANCIAL INTEREST IN A PENDING OR PROPOSED TRANSACTION OR BUSINESS ARRANGEMENT INVOLVING THE UNIVERSITY SHALL PROMPTLY DISCLOSE TO THE BOARD THE EXISTENCE OF THE INTEREST AND OTHER MATERIAL INFORMATION THAT THE TRUSTEE MAY HAVE REGARDING THE TRANSACTION OR ARRANGEMENT. IN ADDITION, EACH TRUSTEE SHALL ANNUALLY SIGN AND SUBMIT TO THE CHAIRMAN OF THE BOARD OF TRUSTEES A STATEMENT DISCLOSING ALL MATERIAL FINANCIAL INTERESTS, KNOWN TO THE TRUSTEE, OF THE TRUSTEE OR A FAMILY MEMBER, IN ANY OUTSIDE ENTITY WITH WHICH THE TRUSTEE KNOWS THE UNIVERSITY HAS OR IS CONSIDERING A TRANSACTION OR OTHER BUSINESS RELATIONSHIP, OR AFFIRMING THAT THE TRUSTEE KNOWS OF NO SUCH INTERESTS. THE CHAIRMAN SHALL REVIEW ANNUAL DISCLOSURE STATEMENTS TO DETERMINE WHETHER A MATERIAL FINANCIAL INTEREST HAS BEEN DISCLOSED. IF A MATERIAL FINANCIAL INTEREST HAS BEEN DISCLOSED, THE CHAIRMAN SHALL PROMPTLY SUBMIT IT TO THE CHAIR OF THE BUSINESS AFFAIRS COMMITTEE (OR, IF THE INTERESTS INVOLVE THE CHAIR OF THE BUSINESS AFFAIRS COMMITTEE, ANOTHER MEMBER OF THE BUSINESS AFFAIRS COMMITTEE), SUCH DISCLOSURE FORMS TOGETHER WITH ANY ADDITIONAL INFORMATION ABOUT THE CURRENT OR PROPOSED TRANSACTION OR BUSINESS RELATIONSHIP THAT MAY GIVE RISE TO A CONFLICT OF INTEREST. IF THE BUSINESS AFFAIRS COMMITTEE DETERMINES THAT THERE IS A CONFLICT OF INTEREST, IT SHALL ADVISE THE INTERESTED TRUSTEE, WHO SHALL HAVE AN OPPORTUNITY TO ADDRESS THE MATTER WITH THE BUSINESS AFFAIRS COMMITTEE. WHEN A CONFLICT OF INTEREST DETERMINATION IS REFERRED TO THE BOARD, EITHER FOLLOWING REVIEW BY THE BUSINESS AFFAIRS COMMITTEE OR IF DISCLOSURE IS MADE IN THE FIRST INSTANCE TO THE BOARD (FOR EXAMPLE, WHEN A TRUSTEE BECOMES AWARE OF A POSSIBLE CONFLICT OF INTEREST DURING OR JUST BEFORE A MEETING OF THE BOARD), UNLESS THE TRUSTEE ELECTS RECUSAL, THE BOARD SHALL DECIDE WHETEHER A CONFLICT OF INTEREST EXISTS. THE BOARD MAY QUESTION THE INTERESTED TRUSTEE AND THE TRUSTEE SHALL HAVE AN OPPORTUNITY TO ADDRESS TO THE BOARD WHETHER THERE IS A CONFLICT. THE INTERESTED TRUSTEE SHALL LEAVE THE BOARD MEETING WHILE THE DISINTERESTED (INDEPENDENT) MEMBERS OF THE BOARD DETERMINE, BY MAJORITY VOTE, WHETHER THE FINANCIAL INTEREST GIVES RISE TO A CONFLICT OF INTEREST. IF IT IS DETERMINED THAT NO CONFLICT OF INTEREST EXISTS, THE INTERESTED TRUSTEE MAY REJOIN THE MEETING AND PARTICIPATE FULLY IN THE DISCUSSION OF AND VOTE ON THE PROPOSED TRANSACTION OR AGREEMENT. IF THE BOARD DETERMINES THAT A TRUSTEE HAS A CONFLICT OF INTEREST IN A MATTER BEFORE THE BOARD, THE BOARD MAY PERMIT THE INTERESTED TRUSTEE TO MAKE A PRESENATION REGARDING THE MATTER, BUT THE INTERESTED TRUSTEE SHALL BE REQUIRED TO LEAVE THE MEETING PRIOR TO THE DISCUSSION OF, AND THE VOTE ON THE PROPOSED TRANSACTION OR AGREEMENT ONLY UPON A FINDING, BY A MAJORITY VOTE OF THE DISINTERESTED TRUSTEES, THAT THE TRANSACTION OR AGREEMENT IS IN THE UNIVERSITY'S BEST INTEREST, IS FOR THE UNIVERSITY'S BENEFIT AND IS FAIR AND REASONABLE TO THE UNIVERSITY. THE BOARD MAY ENGAGE SUCH CONSULTANTS AS IT DEEMS NECESSARY OR USEFUL TO ASSIST ITS DETERMINATION OF THESE ISSUES. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD COMPENSATION COMMITTEE SETS THE PRESIDENT'S COMPENSATION AFTER A STUDY OF COMPARABLE COMPENSATION DATA. THE COMMITTEE SUPPLIES THE PRESIDENT WITH A WRITTEN CONTRACT AND REVIEWS THE PRESIDENT'S COMPENSATION ANNUALLY. BOARD APPROVAL IS REQUIRED FOR ANY CHANGES TO THE PRESIDENT'S COMPENSATION. THE BOARD SETS THE COMPENSATION OF THE PROVOST AND THE EVP FINANCE AND ADMINSTRATION AND OF OTHER TOP MANAGEMENT OFFICIALS WHO ARE NOT TRUSTEES AND WHO WERE APPOINTED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 GOVERNANCE DOCUMENTS ARE AVAILABLE ON OUR WEBSITE AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). THE FORM 990 WITHOUT SCHEDULE B IS AVAILABLE VIA THE CANDID (FORMERLY KNOWN AS GUIDESTAR) WEBSITE. FORM 990, PART VII, SECTION A: THE UNIVERSITY HAS NOT PROVIDED DETAILS ON COMPENSATION DUE TO FRENCH PRIVACY LAW CONCERNS. THE TOTAL REPORTABLE COMPENSATION IS $3,040,829 FOR THE LISTED OFFICERS AND HIGHEST PAID EMPLOYEES. FORM 990, PART XI, LINE 9: EXPENSES FINANCED BY DESIGNATED FUNDS 2,696. EXPENSES ON TEMPORARILY RESTRICTED GIFT AND PERMANENTLY RESTRICTED GIFTS 702,947. RELEASE OF PROVISION FOR DOUBTFUL CUSTOMER 39,968. RELEASE OF PROVISION ON ALLOWANCE 168,708. NON OPERATING ASSETS RELEASED FROM RESTRICTIONS & DESIGNATED FOR OPERATIONS -571,972. RETIREMENT ACCRUAL IMPACT ON NET ASSETS -47,623. EXCHANGE PROFIT ACCOUNTED IN NET EXPENSES IN US GAAP 358,939. DIFFERENCE DUE TO DIFFERENT RECLASSIFICATION OF EXP. (FRENCH VS. US GAAP) -44,180. ADJUSTMENT DUE TO CONVERSION RATES IMPACT ON FINANCIAL STATEMENTS -556,957. US GAAP ADJUSTMENT ON LEASES ROU ASSETS AMERICAN UNIVERSITY OF PARIS FOUNDATION 18 CURLEY STREET LONG BEACH NY 11561 133276905 EDUCATION SUPPORT NY 501(C)(3) LINE 12A, I 0 SCI SEGUIN UNIVERSITIES 102 RUE SAINT DOMINIQUE PARIS FR 75007 REAL ESTATE FR AUP INC RELATED 0 0 0.99900 AUP HOUSING 5 BOULEVARD DE LA TOUR-MAUBOURG PARIS FR 75007 STUDENT LODGING FR THE AMERICAN UNIVERSITY OF PARIS INC C 7807628 6267399 1.00000 1 0 0 1 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 AMERICAN UNIVERSITY OF PARIS FOUNDATION C 440292 FACE VALUE AUP HOUSING L 203748 BOOK VALUE