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        <ExplanationTxt>THE SCHOOL ADOPTED GENERALLY ACCEPTABLE ACCOUNTING PRINCIPLES FOR RECOGNITION, MEASUREMENT, PRESENTATION AND DISCLOSURE RELATING TO UNCERTAIN TAX POSITIONS, WHICH APPLIES TO BUSINESS ENTERPRISES, NOT-FOR-PROFIT ENTITIES, AND PASS-THROUGH ENTITIES, SUCH AS S CORPORATIONS AND LIMITED LIABILITY COMPANIES. THE SCHOOL FILES INFORMATIONAL RETURNS IN THE UNITED STATES AND NEW YORK, CONNECTICUT AND NEW JERSEY STATE JURISDICTIONS.</ExplanationTxt>
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        <OwningBondFinancedPropertyInd>0</OwningBondFinancedPropertyInd>
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        <AnyResearchAgreementsInd>0</AnyResearchAgreementsInd>
        <BondIssMeetPrvtSecPymtTestInd>0</BondIssMeetPrvtSecPymtTestInd>
        <ChangeInUseBondFinancedPropInd>0</ChangeInUseBondFinancedPropInd>
        <ProcsNonqualifiedBondRemdtdInd>0</ProcsNonqualifiedBondRemdtdInd>
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      <TaxExemptBondsArbitrageGrp>
        <BondReferenceCd>A</BondReferenceCd>
        <Form8038TFiledInd>0</Form8038TFiledInd>
        <RebateNotDueYetInd>0</RebateNotDueYetInd>
        <ExceptionToRebateInd>0</ExceptionToRebateInd>
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        <VariableRateIssueInd>0</VariableRateIssueInd>
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        <GrossProceedsInvestedInGICInd>0</GrossProceedsInvestedInGICInd>
        <GrossProceedsInvestedInd>0</GrossProceedsInvestedInd>
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        <BondReferenceCd>A</BondReferenceCd>
        <ProceduresCorrectiveActionInd>0</ProceduresCorrectiveActionInd>
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    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>A COPY OF THE FORM 990 WAS PROVIDED TO THE AUDIT COMMITTEE OF THE GOVERNING BODY BEFORE IT WAS FILED FOR REVIEW AND APPROVAL.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>A CONTRACT OR TRANSACTION NEED NOT BE VOID OR VOIDABLE SOLELY BECAUSE THE CONTRACT OR TRANSACTION IS: (A) BETWEEN THE CORPORATION AND ONE OR MORE OF ITS TRUSTEES OR OFFICERS, (B) BETWEEN THE CORPORATION AND AN UNRELATED CORPORATION, FIRM, ASSOCIATION OR ENTITY ("THIRD PARTY"), AND ONE OR MORE OF THE CORPORATION'S TRUSTEES OR OFFICERS IS ALSO A TRUSTEE OR OFFICER OF SUCH THIRD PARTY OR HAS A SUBSTANTIAL FINANCIAL INTEREST IN SUCH THIRD PARTY, CONTRACT OR TRANSACTION, OR (C) PRESENTED FOR AUTHORIZING VOTE AT A BOARD OR COMMITTEE MEETING WHERE THE TRUSTEES OR OFFICERS DESCRIBED IN (A) OR (B) ("INTEREST PERSONS") ARE PRESENT FOR ALL OR PART OF SUCH MEETING. SUCH CONTRACT OR TRANSACTION SHALL BE DULY AUTHORIZED UPON AFFIRMATIVE VOTE AT SUCH MEETING, PROVIDED: (A) THERE IS GOOD FAITH DISCLOSURE OF THE MATERIAL TERMS OF THE CONTRACT OR TRANSACTION AND THE FINANCIAL OR OTHER INTEREST AND AFFILIATION OF THE INTERESTED PERSONS IN THE CONTRACT, TRANSACTION OR THIRD PARTY, (B) THE VOTE AUTHORIZING SUCH CONTRACT OR TRANSACTION IS SUFFICIENT WITHOUT THE VOTE OF SUCH INTERESTED PERSONS, (C) SUCH INTERESTED PERSONS AFFIRMATIVELY RECUSE THEMSELVES FROM VOTING UPON SUCH CONTRACT OR TRANSACTION, AND (D) THE TRUSTEES OR COMMITTEE MEMBERS WHO APPROVE THE CONTRACT OR TRANSACTION DETERMINE IT TO BE FAIR, REASONABLE AND IN THE BEST INTEREST OF WINSTON. INTERESTED PERSONS MAY BE COUNTED IN DETERMINING THE PRESENCE OF A QUORUM AT A MEETING OF THE BOARD OR COMMITTEE WHICH AUTHORIZES SUCH CONTRACT OR TRANSACTION.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15</FormAndLineReferenceDesc>
        <ExplanationTxt>THE GOVERNING BODY APPOINTS A COMPENSATION COMMITTEE TO REVIEW AND APPROVE COMPENSATION FOR THE ORGANIZATION'S EXECUTIVE DIRECTOR AND TOP MANAGEMENT OFFICIAL. THE ORGANIZATION'S EXECUTIVE DIRECTOR AND TOP MANAGEMENT OFFICIAL REVIEW AND APPROVE COMPENSATION FOR THE ORGANIZATION'S OTHER OFFICERS AND KEY EMPLOYEES.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 18</FormAndLineReferenceDesc>
        <ExplanationTxt>FORM 990 IS AVAILABLE FOR PUBLIC INSPECTION ON THE WEBSITE "WWW.GUIDESTAR.COM OR UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>FORM 990 IS AVAILABLE FOR PUBLIC INSPECTION ON THE WEBSITE "WWW.GUIDESTAR.COM OR UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VII CONTACT ADDRESSES FOR OFFICERS, DIRECTORS, ETC</FormAndLineReferenceDesc>
        <ExplanationTxt>SCOTT BEZSYLKO - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. DANIEL DEGNAN - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. ELIZABETH DEHAVEN - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. BETH SUGERMAN - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. SANDFORD HAGERTY - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. ERICA PICHE - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. KEITH ONCALE - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. JOHN CIVITA - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. KRISTEN ATKINS - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. STEPHANIE ZABAR - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. JEREMY ANTAR - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. TABITHA MANCINI - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. DIANA GARCIA BREINICH - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. SUSAN SLATER - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. DOUGLAS ATKINS - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. PAX WHITFIELD - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. MONIQUE LAYANI - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. JOSEPH M. RAULT, III - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. SUZANNE ENGEL - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. ANDREA GEISSER - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. CHRIS PETILLO - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. CONSTANCE POND - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. TRACY ROSEN - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. CHRIS SPOFFORD - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. MARK UNTHANK - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036. DAN WEISSMAN - 135 WEST 41ST STREET, 5TH FLOOR, NEW YORK, NY 10036.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XI, LINE 9:</FormAndLineReferenceDesc>
        <ExplanationTxt>INTEREST RATE SWAP HEDGE -282587.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>