2023-05-09T18:50:35-05:00 2022-06-30 363990892 Capin Crouse LLP 3200 Guasti Road Suite 230 Ontario CA 91761 990 2021-07-01 950549600 Biola University Inc BIOL 5629036000 13800 Biola Avenue La Mirada CA 906390001 Michael A Pierce Exec VP, Univ Ops & Finance 5629036000 2023-05-09 1 Michael Pierce 999009999 Daren Daiga P01074795 5055022746 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z Barry H Corey 13800 Biola Avenue La Mirada CA 906390001 309641802 0 X www.biola.edu X 1908 CA A private Christian university offering biblically-centered education, scholarship, and service. 28 27 3269 27 3025 5696 32043524 36322749 176035254 194270123 8546784 18453556 565015 311050 217190577 249357478 77133494 67617341 0 0 97842968 105916403 78814 233290 2881839 50309762 68912303 225365038 242679337 -8174461 6678141 495437445 465269884 147326461 142108427 348110984 323161457 X Biola University is a private Christian university located in Southern California. For over 114 years, Biola has stood out as an institution grounded on biblically centered education, intentional spiritual development, and career preparation, where all faculty, staff and students are professing Christians. With more than 145 academic programs through its six schools, Biola offers degrees ranging from Bachelor of Arts to doctoral degree. 0 0 64508041 37048796 84882425 School of Arts & SciencesThe School of Arts & Sciences consists of four schools: School of Cinema & Media Arts; School of Fine Arts & Communication; School of Humanities & Social Sciences; and School of Science, Technology, and Health.The School of Cinema & Media Arts focuses on equipping students to serve as an observer, interpreter, and creator of mass media through a Christian worldview. There are four areas of study to select from: game design and interactive media, production, writing for the screen, and entertainment producing. The School of Cinema & Media Arts is ranked by Variety as one of the 30 best film programs in the world, and is ranked as the #1 Christian film school. They offer four Bachelor's degree programs, including B.A. in Cinema and Media Arts, B.A. in Writing for Film and Television, B.A. in Game Design and Interactive Media, and B.S. in Entertainment Business.The School of Fine Arts and Communication is where students explore new ways to create, tell and distribute stories because every discipline taught is a channel through which students can impact the world and express their faith -- with words, visuals and sound. The programs give students the opportunity to become proficient and powerful storytellers. The School of Fine Arts and Communication offers 15 Bachelor's degree programs, one Master's degree program, and three certificate programs. Degrees available include B.F.A. in Studio Art, B.S. in Design, B.A. in Music, B.A. in Communication Studies, and M.A. in Public Relations and Reputation Management.The School of Humanities & Social Sciences aims to look at humankind's similar and disparate systems, beliefs, languages and cultures and to gain an understanding through the literary masterpieces of great thinkers. They provide context for traditions and folklore and let philosophy collide with history and politics, in an attempt to make sense of the world from a human perspective, as well as a biblical perspective. The School of Humanities & Social Sciences offers 8 Bachelor's degree programs. Degrees available include B.A. in English, B.A. in Political Science, and B.A. in Sociology. The School of Humanities & Social Sciences also offers the Torrey Honors College, which is Biola University's undergraduate honors program.The vision of the School of Science, Technology and Health at Biola University is to equip a new generation of ethically thoughtful professionals in the sciences and health care, grounded in a Christian worldview, educated in an academically rigorous environment, ready to assume positions of leadership, and able to provide the clear moral vision the world desperately needs. The School of Science, Technology and Health offers 16 Bachelor's degree program and two Master's degree programs. Degrees available include B.S. in Nursing, B.S. in Kinesiology, B.S. in Chemistry, and B.S. in Engineering Physics. The School of Science, Technology and Health also offers the Stewart Science Honors Program which is a highly selective honors program that is academically rigorous and is guided by research and technology.As of Fall 2021, the School of Arts & Sciences' enrollment is 2,186 undergraduate students and 62 Masters students. In Spring 2022, Biola faculty and a student made a cutting-edge discovery that showed that molecular nanomachines can destroy viruses, which was a significant breakthrough in virology. In addition, the Torrey Honors College partnered with Biola's Division of Diversity and Inclusion to create the program Read Well, Live Well, a summer program to introduce underserved students to a college campus. 30870533 17771662 45709112 Talbot School of TheologyThe mission of Talbot School of Theology is the development of disciples of Jesus Christ whose thought processes, character, and lifestyles reflect those of our Lord, and who are dedicated to disciple making throughout the world. The goal is to educate and graduate students characterized by a commitment to serving Christ, missionary and evangelistic zeal, and a solid knowledge of the scriptures. The Talbot School of Theology offers three Bachelor's degree programs, eight Master's degree programs, and two Doctoral degree programs, and four certificate programs. Degrees available include B.A. in Bible, Theology, and Ministry; Master of Divinity (M.Div.); and Doctor of Ministry. The Talbot School of Theology also partners with the Crowell School of Business to offer a Masters of Management, Nonprofits Organizations. As of Fall 2021, the Talbot School of Theology's enrollment is 217 undergraduate students, 1,012 Masters students, and 209 Doctoral students. Talbot School of Theology engages with its students and community through its weekly podcast "Think Biblically," "The Good Book Blog, and the Talbot Magazine which is published twice a year. In addition to inviting guest speakers throughout the year, Talbot School of Theology participated in conferences, such as the Ablaze Conference in Fall 2021. Talbot also launched their online Masters of Divinity program in Summer 2021. 25474243 25046815 Auxiliary ServicesAuxiliary Services serves the Biola University community through the Biola Store, conference services, dining services, the Print Shop, residential facilities, and student transportation. Auxiliary Services offers conference services for youth organizations, churches, sports camps, community groups, and other external organizations. There are six eateries available on Biola University's campus, including Cafe Biola which is the main dining facility, Eagles' Nest, and The Heritage Cafe. Residential facilities include 10 residence halls and seven apartment buildings offered as housing to undergraduate and graduate students. 24763545 1468793 Student ServicesStudent Services includes Student Development and Intercollegiate Athletics. This includes a variety of student support, such as student communications, Title IX administration, student engagement and wellness, housing personnel, career development, academic advising, and the counseling center for students. It also includes support for international students, special-needs students, veterans, and off-campus students. 15035388 64161 Academic SupportAcademic Support includes the Provost department, the library, diversity and inclusion administration, the Registrar's office, integration of faith and learning, and faculty administration and support 33516853 12796883 37098817 School of EducationThe School of Education exists to train up those who desire to make an impact as educators in classrooms, administration buildings, homeschools, the mission field and beyond. A wide selection of rigorous, biblically centered academic offerings is available -- ranging from undergraduate and graduate programs to teaching credentials and certificates, as well as K12 as well as homeschool education through the Eight-Week Clinic Courses for grades 1 through 6. The School of Education offers four Bachelor's program degrees, five Master's program degrees, and eight certificate programs. Degrees available include B.A. in Early Childhood, B.A. in Liberal Studies (Multidisciplinary), and M.A. in Education.As of Fall 2021, the School of Education's enrollment is 182 undergraduate students and 217 Masters students.Crowell School of BusinessThe Crowell School of Business prepares students academically with a foundational business education while nurturing their Christian commitment through solid biblical integration in courses and contact with faculty and staff. The mission of the Crowell School of Business is to equip students to develop a Biblical worldview so as to see business as ministry: to prepare students for excellence and leadership in their career, to be strong in mind and character, and mature in faith so that they will make an impact for God in this time and place. The Crowell School of Business offers four Bachelor's degree programs, four Master's degree programs, and one certificate program. Degrees available include B.S. in Accounting, B.S. in Business Administration, and Masters of Business Administration.As of Fall 2021, the Crowell School of Business's enrollment is 494 undergraduate students and 105 Masters students. Every year the Crowell School of Business hosts the Biola Startup Competition where undergraduate and graduate students, as well as recent alumni, are invited to pitch their concept for a business or nonprofit, develop a business plan, and compete for capital. In addition, every other month, the Crowell School of Business hosts the Distinguished Speaker Series, where prominent business leaders are invited to speak with students.Rosemead School of PsychologyRosemead School of Psychology is a top psychology school for Christians who want to integrate their faith with their field. Rosemead School of Psychology brings together the scientific, research-driven study of human behavior with biblical perspectives on human flourishing. Students are equipped with knowledge and skills for professional roles in clinical psychology, therapy, counseling, teaching and research. Rosemead School of Psychology offers two Bachelor's degree programs, one Master's degree program, and two Doctoral degree programs. Degrees available include B.A. in Psychology and Ph.D. in Clinical Psychology.As of Fall 2021, the Rosemead School of Psychology's enrollment is 376 undergraduate students and 128 Doctoral students.Cook School of Intercultural StudiesThe Cook School of Intercultural Studies exists to equip students to communicate, live and work effectively in culturally diverse contexts, to make disciples of all peoples, and to impact the world for the Lord Jesus Christ. It's diverse faculty, with overseas and missionary experience in nearly 100 countries, equips students for careers in a wide variety of fields globally and domestically. The Cook School of Intercultural Studies offers one Bachelor's degree program, one Master's degree program, and three Doctoral programs. Degrees available include B.A. in Intercultural Studies, M.A. in Intercultural Studies, and Ph.D. in Intercultural Education.As of Fall 2021, the Cook School of Intercultural Studies' enrollment is 56 undergraduate students, 92 Masters students, and 133 Doctoral students. The Cook School of Intercultural Studies publishes The International Journal of Christianity and English Language Teaching, which is an annual publication relating to English language teaching and Christian English language teachers.Summer SessionSummer session provides students with the opportunity for a greater degree of flexibility in planning their total program. Students may enrich their course of study and reduce the overall time to completion or decrease their regular course load by careful selection of summer session courses. Courses may be applied to both the degree and the teaching credential programs. Instruction is offered in standard courses by the Biola faculty and capable visiting professors.ResearchResearch includes various grants that Biola University has secured from third parties, which includes administration of grants, as well as the research being performed. Research also includes The Center of Marriage & Relationships which equips students, couples and churches with the tools needed to build happy, healthy friendships, relationships and marriages. Public ServicesPublic Services includes Biola University's counseling center for the community. 73315786 12796883 38631771 194168603 1 1 0 1 0 0 0 0 1 1 1 1 0 0 1 1 1 0 1 1 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 1 1 1 0 0 0 1 7117 0 1 3269 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 X 28 27 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 1 0 CA OR MD MA MI SC X X Denise Rodrigues 5629036000 13800 Biola Avenue La Mirada CA 906390001 Barry Corey President 40.00 X X 562889 0 41369 Michael Maples Board Chair 2.00 X X 0 0 0 Bradley Cole Vice Chair 2.00 X X 0 0 0 Rebecca Andrews Trustee 2.00 X 0 0 0 Lynn Cohick Trustee 2.00 X 0 0 0 Adam Edgerly Trustee/Speaker 2.00 X 800 0 0 David Gyertson Trustee 2.00 X 0 0 0 Dwight Hanger Trustee 2.00 X 0 0 0 Promod Haque Trustee 2.00 X 0 0 0 Carol Hawkins Trustee 2.00 X 0 0 0 Vincent Huang Trustee 2.00 X 0 0 0 Stanley Jantz Trustee 2.00 X 0 0 0 Ray Johnson Trustee 2.00 X 0 0 0 Allan Kavalich Trustee 2.00 X 0 0 0 David Kinnaman Trustee 2.00 X 23947 0 0 Hannah Lee Trustee 2.00 X 25447 0 0 Marilyn Long Trustee 2.00 X 0 0 0 Bryan Loritts Trustee 2.00 X 17191 0 0 Wayne Lowell Trustee 2.00 X 0 0 0 Al Mijares Trustee 2.00 X 0 0 0 David Mitchell Trustee 2.00 X 0 0 0 Philip Paul Trustee 2.00 X 0 0 0 Bob Pritchett Trustee 2.00 X 0 0 0 Henry Riady Trustee 2.00 X 0 0 0 Jerry Rueb Trustee 2.00 X 0 0 0 John Siefker Trustee 2.00 X 0 0 0 Kennith Thompson Trustee 2.00 X 0 0 0 Dean VandeKamp Trustee 2.00 X 0 0 0 Michael A Pierce Secretary/EVP, Univ Ops & Finance 40.00 X 297627 0 21648 William Hummel Asst Secretary 40.00 X 155187 0 17565 Brian Phillips Asst Secretary 40.00 X 158922 0 20570 Adam Morris VP Transformation Chief Advancement Officer 40.00 X 270062 0 28382 Andre Stephens VP, Student Development 40.00 X 213512 0 21443 Deborah Taylor Provost and Senior Vice President 40.00 X 266927 0 23219 Lee Wilhite VP Enrollment Marketing and Communications 40.00 X 213547 0 102523 Thomas Halleen Dean, Cinema & Media Arts 40.00 X 328812 0 25054 Paula Victor General Counsel 40.00 X 233007 0 3732 Clark Campbell Sr Associate Provost, Academic Affairs 40.00 X 213064 0 12468 Christopher Grace Director, Center for Marriage 40.00 X 235919 0 21684 Scott Rae Sr Advisor to the President for University Mission 40.00 X 205329 0 5238 3422189 0 344895 191 0 1 0 McKinsey & Company Inc United States 251 Little Falls Dr Wilmington DE 198081674 Consultant 12614880 RJ Daum Construction Co 11581 Monarch St Garden Grove CA 928411814 General Contractor 4602581 Bon Appetit 14730 Beach Blvd Ste 107 La Mirada CA 90638 Food Management 4041444 WE ONeil Construction Co of California 909 N Pacific Coast Hwy El Segundo CA 902452735 General Contractor 2812825 Google Inc Dept 34256 San Francisco CA 941390001 Advertising & Technology 2070174 52 10025000 6545565 19752184 3047198 36322749 Tuition and fees 611310 166470679 166470679 Aux service sales 611710 25046815 25046815 Public and student fee 611300 2113505 2113505 639124 639124 194270123 3374885 3374885 39258 39258 366959 237921 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2881839 9529506 25915429 6342039 4530111 2573696 12996120 11376595 3073421 580500 528388 582503 584845 235569 291543 1594466 1772021 431995617 191793434 242313652 240202183 140799063 97722028 65413883 64160863 14084710 13481669 11263 11263 495437445 465269884 14841248 15466491 9211981 8729036 113095153 109430123 10178079 8482777 147326461 142108427 X 251441845 220374175 96669139 102787282 348110984 323161457 495437445 465269884 X 6678141 -30794677 -832991 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 19522 19522 0 Part II-B, Line 1: Paid membership dues to a higher education lobbying group and airfare for University President to travel to the CA state capital. 1 1213162 39741 267985 984918 0 172771406 1617061 -7045009 26355895 140987563 152902420 4445099 36940185 20784078 732220 172771406 151020295 3951947 3570401 4942257 697965 152902420 144053244 5055557 7461643 4645600 904549 151020295 136572207 5263640 8886602 3831504 2837701 144053244 0.56526 0.43474 1 0 6728904 6728904 319481097 118243916 201237181 70775868 61050778 9725090 35009748 12498740 22511008 240202183 Certificates of deposit 99086 C Debt securities 15605062 C U.S. government obligations 392163 C Hedge funds 4273739 C Private equity 23240226 C Select equity 15503069 C Deferred compensation plan 1064283 C Real estate not measured at fair value 1835511 C Beneficial interest in perpetual trusts 2147724 C 64160863 Perkins and Nursing school loans 1680664 Asset retirement obligation 1872390 Liabilities for annuities payable 4919068 Amounts held for benefit of others 10655 8482777 X 150135631 -30794677 -68480756 -99275433 249411064 558475 -612061 -53586 249357478 173401330 215698 215698 173185632 558475 68935230 69493705 242679337 Part IV, Line 1b: Biola (or it's designated individual) is named as administrator or successor trustee on testamentary gifts (estates or revocable living trusts). When the agreement matures upon the death of the grantor, Biola assumes its fiduciary role to marshal assets, pay expenses, and distribute beneficiary payments. The administration of each arrangement may last several years until all distributions are made and the accounts are closed. Part V, Line 4: The endowment earnings are used to underwrite the programs and administration of the University, with specific appropriations made to student aid, academic programs, and facility maintenance. Part X, Line 2: The University follows guidance that clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to financial statement recognition and measurement. This guidance provides that the tax effects from an uncertain tax position can only be recognized in the financial statements if the position is more-likely-than-not to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. The University is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code, though it is subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the Code. The University has also been recognized by the California Franchise Tax Board as exempt from California franchise and income taxes under Section 23701d of the California Revenue and Taxation Code. The University has processes presently in place to ensure the maintenance of its tax-exempt status; to identify and report unrelated income; to determine its filing and tax obligations in jurisdictions for which is has nexus; and to identify and evaluate other matters that may be considered tax positions. The University has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements. Part XI, Line 2d - Other Adjustments: Student financial aid netted with tuition revenue -67,617,341. Additional expenses netted against investment income -467,052. Other -396,363. Part XI, Line 4b - Other Adjustments: Event expenses -612,061. Part XII, Line 2d - Other Adjustments: Event expense 612,061. Other -396,363. Part XII, Line 4b - Other Adjustments: Student financial aid netted with tuition revenue 67,617,341. Other rental expenses netted against revenue 467,052. Asset Retirement Obligation amortization 93,230. Early Retirement Program 757,607. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The organization publicized its racially nondiscriminatory policy on the homepage of its website at all times during its tax year in a manner reasonably expected to be noticed by visitors. Schedule E, Part I, Line 6 Biola University serves as a conduit to receive and disburse student aid funds from governmental agencies such as the Department of Education and Department of Health and Human Services under the following programs: Federal Academic Competitiveness Grant Program, Federal Pell Award Grant Program, Federal Perkins Loan Program, Federal National Smart Grant Program, Federal Nursing Student Loan Program, Federal Supplemental Educational Opportunity Grant, Federal Work Study and Higher Education Emergency Relief Fund (HEERF). Central America and the Caribbean 0 0 Investments 27513965 Europe 0 13 Program services Study Abroad; Student Recruitment 147943 Middle East and North Africa 0 2 Program services Study Abroad 33200 South America 0 1 Program services Study Abroad 14000 North America 0 3 Program services Study Abroad 26710 Sub-Saharan Africa 0 1 Program services Student Recruitment 4419 East Asia and the Pacific 0 3 Program services Student Recruitment; Marketing 5930 Russia and Neighboring States 1 0 Program services Extension site 56150 1 23 0 0 1 23 27802317 0 27802317 1 0 1 1 1 0 Part I, line 3: The University accounts for foreign expenditures using the accrual method of accounting. Part III Accounting Method: Part IV Line 3 The organization has analyzed its ownership in the foreign corporation and has determined that it does not meet the reporting requirements for Form 5471. Part IV Line 4 The organization has analyzed its ownership in the passive foreign investment company and has determined that it does not meet the reporting requirements for Form 8621. X X X X X X X 1 The Giving Crowd 15707 Coit Rd Suite C PMB 166 Dallas TX 75248 Fundraising 0 0 87000 -87000 Bentz Whaley Flessner and Associate 7900 Xerxes Avenue South Suite 980 Minneapolis MN 55431 Fundraising Strategy 0 0 28737 -28737 EAB PO Box 603519 Charlotte NC 28260 Fundraising 0 0 117553 -117553 233290 -233290 CA WA OR AK CO DC MD MA MI MO OH SC Vision Summit 10025000 10025000 349896 1042 43520 217603 10025000 10025000 349896 1042 43520 217603 612061 -612061 Part I, Line 2b, column (iv) The Giving Crowd primarily helps individuals with estate planning. This company connects individuals with universities, like Biola, to assist them incorporating donations to the university in their estate plans. The Giving Crowd typically does not generate current gifts, rather the university benefits long term as trusts and wills mature. Bentz Whaley Flessner and Associate assists the University in the development of fundraising strategy. No gross receipts were directly generated from the services provided. EAB Advancement Services assists Universities, like Biola, in data-driven, strategy and fundraising execution for annual funds. EAB's fundraising efforts generate current gifts. 1 Student Scholarships 4542 67617341 Part I, Line 2: Biola University awards both merit and need-based scholarships to students at the graduate and undergraduate levels. Merit awards are based on elibility criteria such as academic, athletic, and music abilities. These typically have academic or participation requirements for renewal. Continued eligibility based on stated requirements is monitored by the Financial Aid office or by the office that makes the awards. Need-based awards are typically awarded based on specific formulas that are based on an institutional or federal cost amount combined with the federal EFC determined by the FAFSA. Continued eligibility is normally contingent on ongoing need in subsequent years. Most of the grants and scholarships awarded by Biola are funded from general funds; however, a portion are funded from restricted funds that have been provided by donors, and are awarded based on the eligibility criteria established by the donors. Some of these funds are awarded by various campus departments, and some through an application process administered by the Financial Aid Office. The Financial Aid Office works closely with accounting and finance offices to monitor availability of funds from both the general fund and restricted fund accounts. X X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 Barry Corey President 508535 0 0 0 54354 0 5026 0 37049 0 604964 0 0 0 Thomas Halleen Dean, Cinema & Media Arts 303260 0 0 0 25552 0 3093 0 22432 0 354337 0 0 0 Michael A Pierce Secretary/EVP, Univ Ops & Finance 293044 0 0 0 4583 0 3948 0 18183 0 319758 0 0 0 Lee Wilhite VP Enrollment Marketing and Communications 207198 0 0 0 6349 0 2762 0 100205 0 316514 0 0 0 Adam Morris VP Transformation Chief Advancement Officer 269030 0 0 0 1032 0 3629 0 25236 0 298927 0 0 0 Deborah Taylor Provost and Senior Vice President 263879 0 0 0 3048 0 3479 0 20223 0 290629 0 0 0 Christopher Grace Director, Center for Marriage 234782 0 0 0 1137 0 2372 0 19733 0 258024 0 0 0 Paula Victor General Counsel 231490 0 0 0 1517 0 2976 0 1216 0 237199 0 0 0 Andre Stephens VP, Student Development 213028 0 0 0 484 0 2666 0 19213 0 235391 0 0 0 Clark Campbell Sr Associate Provost, Academic Affairs 210403 0 0 0 2661 0 2758 0 10153 0 225975 0 0 0 Scott Rae Sr Advisor to the President for University Mission 205220 0 0 0 109 0 2488 0 3139 0 210956 0 0 0 Brian Phillips Asst Secretary 158588 0 0 0 334 0 2115 0 18841 0 179878 0 0 0 William Hummel Asst Secretary 154081 0 0 0 1106 0 2058 0 15889 0 173134 0 0 0 Part I, Line 1a Travel for Companions: Spouses of listed persons occasionally travel on business trips where there is a University interest in their participation in University activities. Where a bona fide purpose is absent, the travel costs are reported as taxable compensation. Tax Indemnification and Gross-Up Payments: On occasion, the President is reimbursed for house-cleaning services in conjunction with University events held in his personal residence when the President and his wife are on University business. This reimbursement is treated as taxable compensation to the President and appears on the President's W-2. The amounts paid are grossed up to provide for taxes incurred on these payments. Housing Allowance or Residence for Personal Use: Per direction from the Board of Trustees and in accordance with IRC Section 107, the University designated a portion of the President's compensation as a minister's housing allowance which is included in taxable compensation. In Biola's interpretation of IRC Section 107, the University will assist employees who are both ordained ministers and in biblical studies or pastoral positions, in claiming the ministerial housing allowance. The employee, alone, bears the risk of the ministerial housing allowance being disallowed, and for the payment of any associated penalties should there be any adverse future ruling by the IRS or the California Franchise Tax Board. All other employees, even if an ordained minister, will not be given the appropriate resolution needed for filing the ministerial housing allowance. Personal Services: On occasion, the President is reimbursed for expenses when the President and his wife are on University business. The personal services include anything needed to attend meetings, gatherings, or conferences. This reimbursement is treated as taxable compensation to the President and appears on the President's W-2. The amounts paid are grossed up to provide for taxes incurred on these payments. A CA Municipal Finance Authority 201563466 13048TPZO 2013-04-25 40189220 Construction of building and parking structure 0 0 0 B CA Municipal Finance Authority 201563466 13048TX32 2017-04-18 83419995 Advance refunding and defeasance of 2008 bonds 0 0 0 A 3405000 40261783 3693060 488400 36080323 2017 0 0 1 1 B 6390000 83419995 843371 82576624 2017 0 1 1 1 A 0 1 0 0 0.00000 0.00330 0.00330 0 0 1 B 0 1 0 0 0.00000 0.00560 0.00560 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 Date Rebate Computation Performed Issuer Name: CA Municipal Finance Authority Date the Rebate Computation was Performed: 05/07/2018 Issuer Name: CA Municipal Finance Authority Date the Rebate Computation was Performed: 05/11/2022 Schedule K Supplental Information Part I, Line 3, Bond A: The difference between the total proceeds of the bond issue and the issue price is due to investment earnings. Barry Corey Officer Housing Assistance X 1097656 511717 0 1 1 Lee Wilhite Officer Housing Assistance X 50000 16671 0 1 1 528388 Campus Loft Company Inc Entity more than 35% owned by Adam Morris VP, Transformation, CAO 126217 Equipment purchase 0 X 29 47000 Market Value X 1231 Market Value X 1 665 Market Value X 11381 2910567 Market Value X Equipment 904 60984 Market value X Alcohol wipes 11088 23251 Market value X Other 1 3500 Market value 0 0 1 1 Part I, Column (b): The number of contributions represent the number of contributions received, not the number of items donated. Part I, Line 32b: Biola contracts with Cars2Charities to receive and sell vehicle donations. Form 990, Part VI, Section A, line 1a Executive committee: The Board of Trustees shall appoint a permanent executive committee composed of the Chair, Vice-Chair, and President as ex-officio members and three or more at-large trustees. The Executive Committee shall have the authority to act for the board. Form 990, Part VI, Section B, line 11b The Form 990 is prepared by an independent CPA firm. The organization's Senior Director of Financial Management and Reporting works closely with the CPA firm it engages to prepare the return. The final draft of Form 990 is reviewed by the Exec VP, Univ Ops & Finance. Biola posts Form 990, excluding Schedule B, prior to filing, on a secure web site and informs the Board of Trustees that it is available for their review. Form 990, Part VI, Section B, line 12c The Director of Human Resources, in conjunction with the Exec VP, Univ Ops & Finance, is charged with monitoring proposed or ongoing transactions for conflicts of interest and addressing any potential or actual conflicts. Pursuant to the conflict of interest policy, an annual conflict of interest questionnaire, aimed at determining any family and business relationships and transactions or other transactions that may pose a potential conflict, is distributed to all covered persons (i .e. Board members, officers and executive leadership or key employees, if any). The questionnaires are completed and signed annually. If a conflict were to arise, the individual would abstain from deliberations or voting on the matter. Form 990, Part VI, Section B, line 15 Line 15a: The independent board of trustees and the compensation committee reviews and determines annually the compensation for the President. Comparability data from Association of Independent California Colleges and Universities is used in this analysis. The deliberation and decision are documented in the board's minutes on September 17, 2021 for FY 2021-2022. Line 15b: The Committee on the President is an executive committee of the Board of Trustees which serves as the University's compensation committee. It is comprised solely of independent directors, none of which have a conflict of interest with respect to the compensation arrangements. The committee develops, consistent with the organization's philosophy and principles, the annual performance goals and the criteria to be used in determining merit increases criteria for the Vice Presidents and other officers. The full board reviews and validates these compensation arrangements and the compensation approval process is documented in the committee minutes. Form 990, Part VI, Section C, line 19 While federal tax laws do not mandate that the organization's governing documents, conflict of interest policy, and financial statements be made available for public inspection, the organization makes its financial statements and conflicts of interest policy available on the University's website at www.biola.edu. The governing documents are available upon request. Form 990, Part IX, line 11g Contract labor: Program service expenses 251,550. Management and general expenses 4,560,490. Fundraising expenses 0. Total expenses 4,812,040. Prof services: Program service expenses 217,200. Management and general expenses 7,873,944. Fundraising expenses 0. Total expenses 8,091,144. Cafeteria Meals/Svc Fees: Program service expenses 9,205,312. Management and general expenses 3,200,341. Fundraising expenses 0. Total expenses 12,405,653. Form 990, Part XI, line 9: Change in value of split interest agreements -832,991. Brite Eagle Holdings Inc 525 University Ave Suite 800 Palo Alto CA 94301 844106640 Holding company CA 0 500 Biola University Charitable Remainder Unitrusts (30) Personal Estate CA Biola University Inc 1 Living Trust (4) Living Trust CA Biola University Inc 1 Charitable Remainder Annuity Trust (3) Personal Estate CA Biola University Inc 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0