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        <FormAndLineReferenceDesc>SCHEDULE D, PAGE 3, PART X</FormAndLineReferenceDesc>
        <ExplanationTxt>CRISTO REY FORT WORTH CATHOLIC HIGH SCHOOL INC (CRFW) AND CRISTO REY FORT WORTH CORPORATE WORK STUDY PROGRAM INC (CWSP) ARE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTIONS 501(C)(3) AND 509(A)(3), RESPECTIVELY, OF THE INTERNAL REVENUE CODE (THE "CODE") AND THEREFORE NO PROVISION HAS BEEN MADE FOR FEDERAL INCOME TAXES IN THE CONSOLIDATED FINANCIAL STATEMENTS. NEITHER ENTITY IS CLASSIFIED AS A PRIVATE FOUNDATION. GAAP PRESCRIBES A COMPREHENSIVE MODEL FOR THE FINANCIAL STATEMENT RECOGNITION, MEASUREMENT, PRESENTATION, AND DISCLOSURE OF UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN INCOME TAX RETURNS. MANAGEMENT BELIEVES THAT IT HAS NOT TAKEN A TAX POSITION THAT, IF CHALLENGED, WOULD HAVE A MATERIAL EFFECT ON THE SCHOOL'S CONSOLIDATED FINANCIAL STATEMENTS. TAX RETURNS OF THE SCHOOL ARE OPEN TO EXAMINATION BY THE RELEVANT TAXING AUTHORITIES FOR A PERIOD OF THREE YEARS FROM THE DATE THE RETURNS ARE FILED. THERE IS NO UNRELATED BUSINESS INCOME FOR FISCAL 2025 OR 2024. THE SCHOOL IS EXEMPT FROM PROPERTY TAXES AND FROM STATE FRANCHISE AND SALES AND USE TAXES. CRFW AND CWSP ARE REQUIRED TO FILE AN ANNUAL INFORMATION RETURN WITH THE INTERNAL REVENUE SERVICE ("IRS"). BOTH ENTITIES FILE FORM 990 IN THE UNITED STATES FEDERAL JURISDICTION WITHIN THE UNITED STATES AND NO TAX RETURNS ARE CURRENTLY UNDER EXAMINATION BY ANY TAX AUTHORITIES.</ExplanationTxt>
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        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 2</FormAndLineReferenceDesc>
        <ExplanationTxt>DEBBIE MORRISON CHARLIE MORRISON MARRIED</ExplanationTxt>
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        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>FORM 990 IS PROVIDED TO THE BOARD FOR REVIEW AND APPROVAL PRIOR TO FILING.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>ON AN ANNUAL BASIS, BOARD DISCLOSES ANY CONFLICTS OF INTEREST AND ADDRESSES SUCH CONFLICTS.</ExplanationTxt>
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      <SupplementalInformationDetail>
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        <ExplanationTxt>DATA FROM OTHER SCHOOLS IN THE CRISTO REY NETWORK IS RECEIVED AND REVIEWED BY BOARD, APPROPRIATE COMPENSATION IS DETERMINED AND APPROVED BY VOTE.</ExplanationTxt>
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      <SupplementalInformationDetail>
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        <ExplanationTxt>DATA FROM OTHER SCHOOLS IN THE CRISTO REY NETWORK IS RECEIVED AND REVIEWED BY BOARD, APPROPRIATE COMPENSATION IS DETERMINED AND APPROVED BY VOTE.</ExplanationTxt>
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        <ExplanationTxt>LIMITED GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST.</ExplanationTxt>
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