2025-05-15T16:16:01-05:00 2024-06-30 910189318 MOSS ADAMS LLP 4747 EXECUTIVE DR SUITE 1300 SAN DIEGO CA 92121 990 2023-07-01 951644593 MARSHALL B KETCHUM UNIVERSITY MARS 7144497400 2575 YORBA LINDA BLVD FULLERTON CA 92831 LORI JACKLIN VP ADMIN & FINANCE, CFO 7144497400 2025-05-15 1 1 PATRICIA J MAYER P00188643 8586271400 2023 2025-03-06 01:10:19Z DR JULIE SCHORNACK 2575 YORBA LINDA BLVD FULLERTON CA 92831 49809036 0 X WWW.KETCHUM.EDU X 1904 CA THE MISSION OF MARSHALL B. KETCHUM UNIVERSITY IS TO EDUCATE CARING, INSPIRED HEALTH CARE PROFESSIONALS WHO ARE PREPARED TO DELIVER COLLABORATIVE, PATIENT-CENTRIC HEALTHCARE IN AN INTERPROFESSIONAL ENVIRONMENT. MBKU IS HOME TO THE SOUTHERN CALIFORNIA COLLEGE OF OPTOMETRY, THE SCHOOL OF PA STUDIES, AND THE COLLEGE OF PHARMACY. THE SOUTHERN CALIFORNIA COLLEGE OF OPTOMETRY CONFERS A DOCTOR OF OPTOMETRY AND A MASTER OF SCIENCE IN VISION SCIENCE DEGREE. THE SCHOOL OF PA STUDIES AWARDS A MASTER OF MEDICAL SCIENCES DEGREE, AND THE COLLEGE OF PHARMACY AWARDS A DOCTOR OF PHARMACY DEGREE. MBKU OWNS AND OPERATES TWO HEALTHCARE CENTERS: KETCHUM HEALTH IN ANAHEIM HILLS AND THE UNIVERSITY EYE CENTER IN LOS ANGELES. 13 11 281 13 66929 56990 3293252 2815627 38283474 38292391 1868179 1647035 819450 736024 44264355 43491077 626197 891789 0 0 28213905 27717470 0 0 687026 12415801 12359159 41255903 40968418 3008452 2522659 107650928 111028389 44891181 43447965 62759747 67580424 X TO EDUCATE CARING, INSPIRED HEALTH CARE PROFESSIONALS WHO ARE PREPARED TO DELIVER COLLABORATIVE, PATIENT-CENTRIC HEALTH CARE IN AN INTERPROFESSIONAL ENVIRONMENT. 0 0 22501009 891789 35135576 SEE SCHEDULE OGRADUATE EDUCATION: THE MISSION OF MARSHALL B. KETCHUM UNIVERSITY (MBKU) IS TO EDUCATE CARING, INSPIRED HEALTH CARE PROFESSIONALS WHO ARE PREPARED TO DELIVER COLLABORATIVE, PATIENT-CENTRIC HEALTH CARE IN AN INTERPROFESSIONAL ENVIRONMENT, AND THE CURRICULUM HAS BEEN ESTABLISHED TO ACHIEVE THIS GOAL. IN ADDITION TO THE RIGOROUS ACADEMIC AND CLINICAL CURRICULUM ON CAMPUS, ALL PROFESSIONAL STUDENTS ROTATE THROUGH SEVERAL EXTERNAL CLINICAL SITES TO BROADEN AND DIVERSIFY THEIR LEARNING EXPERIENCES TO PREPARE THEM FOR CAREERS IN HEALTH CARE. IN THE FALL OF 2023, OUR TOTAL ENROLLMENT WAS 657 FULL-TIME HEALTH PROFESSIONAL STUDENTS REPRESENTING OPTOMETRY (404), PHYSICIAN ASSISTANT (PA) (120), PHARMACY (132), MASTER OF SCIENCE IN VISION SCIENCE (1), AND OUR INTERNATIONAL PROGRAM OFFERING A MASTER OF SCIENCE IN CLINICAL OPTOMETRY (8). IN ADDITION, MBKU HAD 0 OPTOMETRY AND 5 PHARMACY STUDENTS. FOR THE 2023-24 ACADEMIC YEAR, WE GRADUATED 37 MEDICAL MASTER'S SCIENCE DEGREES AND PA CERTIFICATES, 98 DOCTOR OPTOMETRY DEGREES, 48 DOCTOR OF PHARMACY DEGREES, 4 MASTER OF SCIENCE IN VISION SCIENCE, AND 3 MASTER OF SCIENCE IN CLINICAL OPTOMETRY. THE ADMISSIONS PROCESS FOR FALL 2023 ENROLLMENT IS REPORTED BELOW. AT THE OUTSET OF THE APPLICATION PERIOD, THE ADMISSIONS POLICY COMMITTEES ESTABLISH STANDARDS FOR GPAS, APPLICATION TEST SCORES, IF APPLICABLE, AND ACADEMIC INDEX POINT MINIMUMS PROVIDING THRESHOLDS FOR ADMISSIONS PERSONNEL TO CAREFULLY SCREEN AND SELECT THE MOST QUALIFIED APPLICANTS TO INTERVIEW.PROGRAM: OPTOMETRY VERIFIED APPLICATIONS* 407INTERVIEWS CONDUCTED 196 MATRICULATED CLASS 106PROGRAM: PA VERIFIED APPLICATIONS* 1,714INTERVIEWS CONDUCTED 136MATRICULATED CLASS 40PROGRAM: PHARMACY VERIFIED APPLICATIONS* 189 INTERVIEWS CONDUCTED 109 MATRICULATED CLASS 28 *VERIFIED APPLICATIONS THROUGH THE CENTRALIZED APPLICATION SYSTEM(I.E., OPTOMCAS, CASPA, AND PHARMCAS). 8857142 3272206 SEE SCHEDULE OCLINICAL EDUCATION VISION/PATIENT CARE: AFFILIATED WITH THE EDUCATION PROGRAM, THE UNIVERSITY OPERATES FULL-SERVICE VISION CLINICS ON ITS ORANGE COUNTY CAMPUS AND IN DOWNTOWN LOS ANGELES, PLUS 5 LIMITED-HOUR COMMUNITY CLINICS IN ORANGE COUNTY AND LOS ANGELES, MANY LOCATED IN LOW-INCOME AREAS. THE CLINICS TOGETHER SERVED 29,144 UNIQUE ENCOUNTERS. COMPREHENSIVE VISION SERVICES INCLUDE PRIMARY EYE CARE AND SPECIALIZED PATIENT SERVICES: BASIC VISION EXAMINATION; PEDIATRIC VISION SCREENING, VISION CARE AND VISION THERAPY; OCULAR DISEASE DIAGNOSIS AND TREATMENT AND OPHTHALMOLOGY CONSULTATION; CONTACT LENSES AND PROSTHETICS FITTING; LOW VISION REHABILITATION AND EYEWEAR AND OPTICAL DISPENSING. THE VISION CLINICS PROVIDED $548,811 IN PUBLIC SUPPORT THROUGH DISCOUNTS AND FEE WAIVERS. 941482 SEE SCHEDULE ORESEARCH: THE UNIVERSITY SUPPORTS RESEARCH WITHIN THE THREE UNIVERSITY PROGRAMS, THE COLLEGES OF OPTOMETRY AND PHARMACY AND THE SCHOOL OF PHYSICIAN ASSISTANT STUDIES. THE UNIVERSITY PROVIDES ADMINISTRATIVE, PHYSICAL AND FINANCIAL RESOURCES TO FACULTY AND STUDENTS WHO ENGAGE IN RESEARCH.THE SOUTHERN CALIFORNIA COLLEGE OF OPTOMETRY AT MBKU HAS 38 FULL-TIME FACULTY. A TOTAL OF 33 FACULTY STUDIES WERE ACTIVE DURING THE YEAR, THAT INCLUDED EXTERNALLY-FUNDED STUDIES (E.G., GRANTS FROM NIH, PROFESSIONAL ORGANIZATIONS, FOUNDATIONS AND INDUSTRY), AND SELF-FUNDED STUDIES. THE MS IN VISION SCIENCE PROGRAM HAD 8 PROJECTS ACTIVE DURING THE YEAR AND THERE WERE 1 ACTIVE STUDENT RESEARCH ELECTIVES. TOTAL EXTERNAL GRANT REVENUE FOR THE PERIOD WAS $237,484 AND THERE WERE 19 PEER-REVIEWED PUBLICATIONS.THE COLLEGE OF PHARMACY IS COMPOSED OF TWO DEPARTMENTS, PHARMACEUTICAL SCIENCES AND PHARMACY PRACTICE.THE DEPARTMENT OF PHARMACY PRACTICE HAS 12 FULL-TIME FACULTY MEMBERS, WITH 11 AS PHARMACY CLINICAL FACULTY AND 1 NON-CLINICAL FACULTY MEMBER. DURING THE YEAR PHARMACY PRACTICE FACULTY PRODUCED 10 PEER-REVIEWED PUBLICATIONS OR PRESENTATIONS. THE DEPARTMENT OF PHARMACY PRACTICE DID NOT HAVE EXTERNALLY FUNDED RESEACH PROJECTS OR GRANTS DURING THIS REPORTING PERIOD.THE DEPARTMENT OF PHARMACEUTICAL SCIENCES (DPS) HAS 6 FULL-TIME FACULTY MEMBERS WHOSE RESEARCH INCLUDED EXTERNAL GRANTS SUCH AS ONE FROM THE US DEPARTMENT OF AGRICULTURE. TOTAL DIRECT GRANT REVENUE FOR THE PERIOD WAS $500 AND THERE WERE A TOTAL OF 15 PEER-REVIEWED PUBLICATIONS.THE SCHOOL OF PHYSICIAN ASSISTANT STUDIES (SPAS) AT MBKU HAD 9 FULL-TIME AND 2 PART-TIME FACULTY. SCHOLARLY RESEARCH ACTIVITIES ARE INTEGRAL TO THE MASTERS CAPSTONE PROJECT (MCP) WHICH HAD A TOTAL OF 8 COMPLETED. THE SPAS PROGRAM HAD A CLASS OF 43 ENROLLED STUDENTS FOR 2024 AND A CLASS OF 44 ENROLLED STUDENTS FOR 2025. THERE WAS NO DIRECT GRANT REVENUE FOR THE PERIOD AND THERE WERE 6 TOTAL PEER-REVIEWED PUBLICATIONS OR PRESENTATIONS. 32299633 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 178 0 1 281 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 13 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X RENEE BACIU 7144637541 5460 E LA PALMA AVE ANAHEIM CA 92807 MS GAYE BREYMAN TRUSTEE 4.00 0.00 X 32434 0 0 DR LYNN CAFFREY GABRIEL CHAIRMAN OF THE BOARD 6.00 2.00 X X 0 0 0 DR RAY M BAKER VICE CHAIR 4.00 2.00 X X 0 0 0 DR CINDY BLANCQ SECRETARY/TREASURER 4.00 2.00 X X 0 0 0 DR WYNETTE C AUGUSTINE TRUSTEE 4.00 0.00 X 0 0 0 MR WALTER L BUSTER TRUSTEE 4.00 0.00 X 0 0 0 MR GENE CALKINS TRUSTEE 4.00 0.00 X 0 0 0 MR DAVID K GIBSON TRUSTEE 4.00 0.00 X 0 0 0 MS HILARY HAWTHORNE TRUSTEE 4.00 0.00 X 0 0 0 MR EDWARD HERNANDEZ TRUSTEE 4.00 0.00 X 0 0 0 MR BENJAMIN KASKA TRUSTEE 4.00 0.00 X 0 0 0 DR ROBERT MCCOY TRUSTEE 4.00 0.00 X 0 0 0 MS PATRICIA NGUYEN TRUSTEE 4.00 0.00 X 0 0 0 DR KELVIN NGUYEN TRUSTEE (THRU FEB 2024) 4.00 0.00 X 0 0 0 DR JULIE SCHORNACK PRESIDENT 40.00 2.00 X 488204 0 112129 MR FRANK J SCOTTI CFO/SR. VP FOR ADMIN & FINANCE 40.00 2.00 X 279799 0 34847 JUDY ORTIZ VP FOR ACADEMIC AFFAIRS 40.00 0.00 X 299723 0 38720 ERIC BORSTING DEAN OF SCCO 40.00 0.00 X 290782 0 39449 CARMEN BARNHARDT VP FOR STUDENT SERVICES 40.00 0.00 X 221025 0 32398 ALLIISON MOLLET PROGRAM DIR. SPAS & PROFESSOR 40.00 0.00 X 189057 0 15186 JOAN RUBIO VP FOR UNIVERSITY ADVANCEMENT 40.00 0.00 X 184154 0 15014 MARK NAKANO ASSOCIATE DEAN OF CLINICS 40.00 0.00 X 221155 0 27844 SUSAN COTTER PROFESSOR, VISION THERAPY 40.00 0.00 X 208861 0 31973 JAVAD TAFRESHI EXECUTIVE ASSOC. DEAN FOR ACADEMIC AFFAIRS 40.00 0.00 X 201642 0 32309 MONICA TRIVEDI ASSOC DEAN OF CLINICAL AFFAIRS & COMMUNITY OUTR 40.00 0.00 X 201768 0 18479 WENDELYN HOLTZEN VICE PRESIDENT FOR HUMAN RESOURCES 40.00 0.00 X 184567 0 24965 KEVIN ALEXANDER PRESIDENT EMERITUS 40.00 1.00 X 300000 0 0 3303171 0 423313 84 1 1 0 CERTIFIED MAINTENANCE SERVICES INC 13845 ALTON PWY IRVINE CA 92618 JANITORIAL SERVICE 477244 CDW-G 75 REMITTANCE DR CHICAGO IL 60675 SOFTWARE SERVICES 189501 MOSS ADAMS LLP 4747 EXECUTIVE DR STE 1300 SAN DIEGO CA 92121 AUDIT/ TAX SERVICE 143718 ONTARIO REFRIGERATION SERVICES INC 635 S MOUNTAIN AVE ONTARIO CA 91762 HVAC MAINTENANCE 133086 JENZABAR INC PO BOX 845588 BOSTON MA 02284 SOFTWARE SERVICES 117270 18 1367538 402333 1045756 2815627 TUITION AND FEES 611600 33760259 33760259 EYE CARE CENTERS 621300 4353933 4353933 CONTINUING EDUCATION 611430 178199 178199 38292391 1647035 1647035 578669 91080 487589 487589 487589 6130282 6130282 0 0 56770 96597 -39827 -51002 11175 PARKING REVENUE 812930 166393 166393 ADVERTISING 541800 55754 55754 66115 66115 288262 43491077 38407782 66929 2200739 891789 891789 2534111 32434 2501677 19747730 18647069 701864 398797 1335820 1298163 37657 2549393 1850834 597081 101478 1550416 1101936 425294 23186 44625 44625 135548 135548 44537 44537 946917 478962 427458 40497 100960 3016 97551 393 452886 269159 145300 38427 1183719 343777 839942 1229146 1098294 115149 15703 69177 55533 9586 4058 556090 202154 327106 26830 789214 789214 2203042 1858190 344852 434975 434975 EYE CARE CLINIC MATERIA 1103646 1103646 EQUIPMENT 890213 890213 DUES AND SUBSCRIPTIONS 455843 455843 1718621 1718621 40968418 32299633 7981759 687026 8144122 8451833 18641066 24998078 722331 637410 1265905 1011864 4804984 4839835 443288 388957 1447600 1284568 88526227 46685050 43606587 41841177 27527599 26576056 226926 226926 820520 771685 107650928 111028389 4948597 4764664 3900100 3553559 28075000 27510000 4081464 3729185 3886020 3890557 44891181 43447965 X 41541129 45133219 21218618 22447205 62759747 67580424 107650928 111028389 X 2522659 2136602 161416 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2338357 X X 0 21251994 84465 1385377 387204 1083308 21251324 21789760 81203 1023853 548130 1094692 21251994 23694542 228876 -1383141 255503 495014 21789760 23489448 291697 2867731 381055 2573279 23694542 23988090 190061 -186537 411305 90861 23489448 0.45809 0.26870 0.27321 0 0 6463257 6463257 61113624 30763463 30350161 20925352 15921587 5003765 23994 23994 41841177 FEDERAL ADVANCES FOR STUDENT LOANS 3211696 ANNUITIES PAYABLE 661920 OPERATING LEASE LIABILITIES 16941 3890557 X PART III, LINE 4: THE LIBRARY IS AN ESSENTIAL FUNCTION OF THE EDUCATIONAL PROCESS. PART V, LINE 4: THE UNIVERSITY HAS UTILIZED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. AS A RESULT, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRODUCE RESULTS THAT, OVER THE LONG-TERM ALLOW IT TO GROW AT A RATE EXCEEDING EXPECTED INFLATION. THIS IS CONSISTENT WITH THE UNIVERSITY'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS HELD IN PERPETUITY, AS WELL AS, TO PROVIDE ADDITIONAL REAL GROWTH THROUGH NEW GIFTS AND INVESTMENT RETURN. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, THE UNIVERSITY IS NOT SUBJECT TO FEDERAL INCOME TAXES EXCEPT TO THE EXTENT IT DERIVES INCOME FROM CERTAIN ACTIVITIES NOT SUBSTANTIALLY RELATED TO ITS TAX-EXEMPT PURPOSE (UNRELATED BUSINESS TRADE OR BUSINESS ACTIVITIES). THE UNIVERSITY IS ALSO EXEMPT FROM STATE INCOME TAXES. THE UNIVERSITY FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE UNIVERSITY FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2024 AND 2023. THE UNIVERSITY'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 MBKU CUSTOMARILY DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS NATIONWIDE, AND FOLLOWS A RACIALLY NONDISCRIMINATORY POLICY AS TO STUDENTS. SO WE HAVE SATISFIED THE PUBLICITY REQUIREMENT BY COMPLYING WITH SECTION 4.02 REV. PROC. 75-50, 1975-2 C.B. 587. SCHEDULE E, PART I, LINE 6 MARSHALL B. KETCHUM UNIVERSITY RECEIVES AID TO ASSIST STUDENTS WITH TUITION, LIVING EXPENSES, AND BOOKS AND MATERIALS. 1 PRIVATE SCHOLARSHIPS 33 58250 SCHOLARSHIPS 147 833539 PART I, LINE 2: GRANTS AND FINANCIAL AID ARE AWARDED TO STUDENTS. THESE FUNDS ARE THEN USED FOR TUITION AND OTHER EXPENSES RELATED TO EDUCATION (BOOKS, LAB EQUIPMENT, ETC). FUNDS ARE GENERALLY NOT ACTUALLY RELEASED TO THE STUDENTS, BUT ARE USED TO OFFSET TUITION COSTS BY THE FINANCIAL AID OFFICE. ADDITIONALLY, IF WE ARE THE RECIPIENT OF GRANTS (RESEARCH AND OTHERWISE), THE PI OR APPROPRIATE AUTHORITY FAMILIAR WITH THE GRANT ENSURES GRANT COMPLIANCE IN ACCORDANCE WITH THE GRANT DOCUMENT. FOR CLINIC RELATED GRANTS, REVIEW/APPROVAL IS BY JOAN RUBIO, VP OF UNIVERSITY ADVANCEMENT. PART III, COLUMN C: OF THIS AMOUNT, $58,250 ARE FOR AWARDS THAT WERE RELEASED DIRECTLY TO STUDENTS. X X 1 1 X X X X X 0 1 0 0 0 0 0 0 0 DR JULIE SCHORNACK PRESIDENT 477304 0 0 0 10900 0 26400 0 85729 0 600333 0 0 0 JUDY ORTIZ VP FOR ACADEMIC AFFAIRS 298823 0 0 0 900 0 25083 0 13637 0 338443 0 0 0 ERIC BORSTING DEAN OF SCCO 290782 0 0 0 0 0 24346 0 15103 0 330231 0 0 0 MR FRANK J SCOTTI CFO/SR. VP FOR ADMIN & FINANCE 278899 0 0 0 900 0 22938 0 11909 0 314646 0 0 0 KEVIN ALEXANDER PRESIDENT EMERITUS 0 0 0 0 300000 0 0 0 0 0 300000 0 0 0 CARMEN BARNHARDT VP FOR STUDENT SERVICES 220125 0 0 0 900 0 18762 0 13636 0 253423 0 0 0 MARK NAKANO ASSOCIATE DEAN OF CLINICS 220255 0 0 0 900 0 18008 0 9836 0 248999 0 0 0 SUSAN COTTER PROFESSOR, VISION THERAPY 208861 0 0 0 0 0 18245 0 13728 0 240834 0 0 0 JAVAD TAFRESHI EXECUTIVE ASSOC. DEAN FOR ACADEMIC AFFAIRS 200742 0 0 0 900 0 17206 0 15103 0 233951 0 0 0 MONICA TRIVEDI ASSOC DEAN OF CLINICAL AFFAIRS & COMMUNITY 200868 0 0 0 900 0 16428 0 2051 0 220247 0 0 0 WENDELYN HOLTZEN VICE PRESIDENT FOR HUMAN RESOURCES 183667 0 0 0 900 0 15419 0 9546 0 209532 0 0 0 ALLIISON MOLLET PROGRAM DIR. SPAS & PROFESSOR 188157 0 0 0 900 0 15186 0 0 0 204243 0 0 0 JOAN RUBIO VP FOR UNIVERSITY ADVANCEMENT 183254 0 0 0 900 0 15014 0 0 0 199168 0 0 0 PART I, LINE 1A AS A CONDITION OF EMPLOYMENT, THE MBKU PRESIDENT IS PROVIDED A HOUSING ALLOWANCE OF $72,000, WHICH IS INCLUDED IN THE COMPENSATION INFORMATION PRESENTED IN PART VII OF THE FORM 990 AND IN SCHEDULE J. PART I, LINE 4B PRESIDENT EMERITUS, KEVIN ALEXANDER, PARTICIPATED IN A 457F PLAN. THERE WERE NO CONTRIBUTIONS MADE FOR 2023. A CITY OF FULLERTON PUBLIC FINANCING AUTHORITY 911917687 359816DE2 2021-09-15 33221377 SEE PART VI 0 0 0 A 8061383 33221377 570182 1 1 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 SCHEDULE K, PART I, DESCRIPTION OF PURPOSE: THE NET PROCEEDS WERE USED TO REFINANCE THE $27,510,000 SERIES 2015A (TAX-EXEMPT BONDS) AND $3,729,185 SERIES 2015B (TAXABLE BONDS) BALANCES OF OUTSTANDING PRINCIPLE AND TO ESTABLISH A PROJECT FUND FOR ADDITIONAL CAPITAL EXPENDITURES. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY MANAGEMENT INCLUDING THE VP FOR ADMINISTRATION AND FINANCE, AND CFO. PRIOR TO SUBMITTING TO THE IRS, THE FINAL FORM 990 IS SENT TO THE ENTIRE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST QUESTIONNAIRE IS DISTRIBUTED TO THE BOARD OF DIRECTORS TO BE COMPLETED ANNUALLY. UPON THE DISCLOSURE OF ANY CONFLICT OF INTEREST, THE MATTER IS DISCUSSED WITH THE CHAIRMAN OF THE BOARD. IF A PERSON HAS A CONFLICT OF INTEREST THEY ARE NOT ALLOWED TO VOTE ON THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 UNIVERSITY PRESIDENT SALARY IS REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. IN ADDITION, THE PRESIDENT'S CONTRACT IS ESTABLISHED AND REVIEWED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THIS PROCESS IS DOCUMENTED AND WAS LAST COMPLETED MARCH 2023. OTHER OFFICERS AND KEY EMPLOYEES SALARIES ARE DETERMINED AND APPROVED BY THE UNIVERSITY PRESIDENT. COMPENSATION IS DETERMINED BY USING COMPARABLE DATA AND INDEPENDENT COMPENSATION STUDIES. THIS PROCESS IS DOCUMENTED AND WAS LAST COMPLETED MARCH 2024. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICY AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST AT THE UNIVERSITY'S MAIN OFFICE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 161,416. SCCO COLLEGE PROPERTIES INC 2575 YORBA LINDA BLVD FULLERTON CA 92831 953549243 TITLE HOLDING COMPANY CA 501(C)(2) N/A MARSHALL B KETCHUM UNIVERSITY 1 CHARITABLE REMAINDER UNITRUST (3) CHARRITABLE TRUST CA MARSHALL B KETCHUM UNIVERSITY T 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SCCO COLLEGE PROPERTIES INC C 1367538 CASH