To create an advanced list:
1. Core > Lists > Manage Lists >  Manage Basic and Advanced Lists.
2. Select Add and then advanced list.

The objects needed to be selected are: 
1. Candidate.
2. School decision.
3. Transfer/Sending School.
All three are under admission.

The Display field you need to show this is:
1. Transfer/Sending School.Transfer School Name.

When you run this list it will show you all the schools that families have selected when declining on there decision.