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          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
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        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>SCHEDULE D, PAGE 2, PART V, LINE 4</FormAndLineReferenceDesc>
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        <FormAndLineReferenceDesc>SCHEDULE I, PAGE 1, PART I, LINE 2</FormAndLineReferenceDesc>
        <ExplanationTxt>THE NATIONAL OFFICE STAFF, ON BEHALF OF THE MORTAR BOARD NATIONAL FOUNDATION FUND, OBSERVES THE MATRICULATION AND ACADEMIC PROGRESS OF EACH WINNER OF A MORTAR BOARD FELLOWSHIP.</ExplanationTxt>
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        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD AND MANAGEMENT REVIEWS THE 990 AFTER IT IS PREPARED BY THE OUTSIDE TAX PREPARER AND BEFORE IT IS FILED WITH THE IRS.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>REVIEW ANNUAL CONFLICT OF INTEREST POLICY WITH GOVERNING BOARD, ANNUAL SIGNING OF FORM IS EXPECTED OF EACH BOARD MEMBER. MANAGEMENT REVIEWS EACH FORM AND ASSURES NO CONFLICT HAS BEEN DISCLOSED.</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PAGE 6, PART VI, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>GOVERNING DOCUMENTS ARE MADE AVAILABLE UPON REQUEST.</ExplanationTxt>
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</Return>