2012-09-10T11:48:29-05:00 2011-06-30 GRANT THORNTON LLP ONE CALIFORNIA STREET SUITE 2300 SAN FRANCISCO CA 94111 990 2010-07-01 953127273 Western University of Health Sciences WEST 9096236116 309 East Second Street Pomona CA 917661889 kevin d shaw 2012-05-15 true JOE DETRANE 4159863900 2010 2016-02-24 21:20:13Z Philip Pumerantz 309 East Second Street Pomona CA 917661889 217199357 false X www.westernu.edu X 1977 CA TO PROVIDE MEDICAL AND HEALTH EDUCATION TO GRADUATE STUDENTS BY OFFERING VARIOUS EDUCATIONAL PROGRAMS AND DEGREES. 13 13 926 4 0 0 6523225 5930419 100727374 115964912 222749 746016 2705624 3493151 110178972 126134498 2335519 2173782 0 0 63356493 75267433 0 0 3686030 43380762 47272256 109072774 124713471 1106198 1421027 236244744 242174952 173409390 175096482 62835354 67078470 TO PROVIDE MEDICAL AND HEALTH EDUCATION TO GRADUATE STUDENTS BY OFFERING VARIOUS EDUCATIONAL PROGRAMS AND DEGREES. false false 96687675 2173782 114490450 WESTERN UNIVERSITY OF HEALTH SCIENCES IS THE LARGEST GRADUATE UNIVERSITY FOR THE HEALTH PROFESSIONS IN THE WESTERN U.S. WESTERN UNIVERSITY GRADUATES PHYSICIANS, PHARMACISTS, NURSES, PHYSICIAN ASSISTANTS, PHYSICAL THERAPISTS, VETERINARIANS, DENTISTS, PODIATRISTS, OPTOMETRISTS, AND RESEARCHERS. THE UNIVERSITY PROVIDES DEGREES TO STUDENTS IN THE FIELD OF OSTEOPATHIC MEDICINE, PHYSICAL THERAPY, PHYSICIANS ASSISTANTS, PHARMACOLOGY, VETERINARY MEDICINE, NURSING, DENTISTRY, PODIATRY, OPTOMETRY AND BIOMEDICAL SCIENCES. 4423801 2157007 THE UNIVERSITY HAS MEDICAL CENTERS THAT PROVIDE PRACTICAL TRAINING FOR OUR STUDENTS TO THE PUBLIC. 101111476 true true false false false false false false true true true false false true true false true true false false false false false true false false false true true true false false false false false false false false false false true false false false false true true false false false true 762 0 true 926 true false false false false false true true false false false false X 13 13 false false false false false false false true true false false true true true true true true true true false CA OR X X KEVIN SHAW 9096236116 309 EAST SECOND STREET Pomona CA 917661889 John McGwire 0.0 X 0 0 0 Maureen Duffy-Lewis 0.0 X 0 0 0 Mike Quick 0.0 X 0 0 0 Linda Crans 0.0 X 0 0 0 David Sadava 0.0 X 0 0 0 Gene Barduson 0.0 X 0 0 0 Vincent Naimoli 0.0 X 0 0 0 Derek Samuel 0.0 X 0 0 0 Warren Lawless 0.0 X X 0 0 0 Richard Bond 0.0 X X 0 0 0 Ethan Allen 0.0 X X 0 0 0 John Forbing 0.0 X X 0 0 0 Tony Chan 0.0 X 0 0 0 WEN CHANG 0.0 X 0 0 0 Philip Pumerantz 40.0 X 458071 0 101879 Benjamin L Cohen 40.0 X 456246 0 59765 Kevin D Shaw 40.0 X 271039 0 33027 Gary M Gugelchuk 40.0 X 241338 0 23109 Clinton Adams 40.0 X 375208 0 19794 Lawrence B Harkless 40.0 X 318512 0 19765 Steven J Henriksen 40.0 X 279397 0 25849 J Michael Finley 40.0 X 270356 0 19873 Thomas Fox 40.0 X 259574 0 24625 2929741 0 327686 157 false true false commerce city maintenance co po box 2269 WALNUT CA 917882269 maintenance 658901 imperial security service inc 2555 poplar ave MEMPHIS TN 38112 security 625542 musick peeler garrett llp one wilshire blvd LOS ANGELES CA 900173383 legal 351978 lcs constructors inc 15205 alton parkway IRVINE CA 92618 construction 325927 keith johnson attorney at law POMONA CA 917691854 legal 171665 17 214739 2265884 3449796 732427 5930419 NET TUITION REVENUE 611710 110430352 110430352 BOOKSTORE REVENUE 451211 1234759 1234759 STUDENT FEES 611710 1583974 1583974 MEDICAL CLINIC REVENUE 621400 2157007 2157007 STUDENT PARKING 812930 558820 558820 115964912 827085 827085 0 0 49357 49357 49357 49357 90897225 400 90978694 -81469 400 -81069 -81069 65528 214739 86165 -20637 -20637 0 0 DIFFERENTIAL IN VALUE OF SWAP CONTRACT 900099 1799027 1799027 SPLIT INTEREST EARNINGS 900099 720183 720183 OUTSIDE REVENUES 900099 582171 582171 363050 100374 262676 3464431 126134498 116088637 0 4115442 0 2173782 2173782 0 0 1644474 1644474 0 59334012 52753910 4413746 2166357 3445147 2980477 342276 122394 6515896 5637053 647355 231487 4327904 3744171 429978 153756 0 733907 123224 610683 203955 203955 0 0 63849 63849 5120206 3285399 1767784 67023 741455 378510 285187 77758 2182799 1256081 837758 88960 1135386 540063 585984 9338 0 6460936 5589506 641895 229535 1231835 1081120 104079 46635 0 503587 457551 39680 6357 7032947 7032947 0 7131612 4778180 2139484 213948 866495 50555 815940 LETTER OF CREDIT FEES 1423570 1067677 355892 ROTATIONS EXPENSE 2266180 2266180 CAPITAL EXPENDITURES 1133263 759286 339979 33998 REPAIRS AND MAINTENANCE 1621300 1086271 486390 48639 MEDICAL, LAB AND STUDENT SUPPL 1607430 1607430 5811544 2462103 3159597 189845 124713471 101111476 19915965 3686030 1143561 1740985 5765323 5222814 952519 1618645 23795403 24094188 1087257 1324371 1262872 1451123 195035423 47136848 145348509 147898575 48777136 51327130 8112164 7497121 236244744 242174952 12796585 15697436 14165665 16294740 101785000 100390000 44662140 42714306 173409390 175096482 X 46875469 50313028 8360439 8435664 7599446 8329778 62835354 67078470 236244744 242174952 X 1421027 2822089 X false true true X true true X false false false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7912608 225198 1703320 486475 9354651 7272059 271049 903107 533607 7912608 8794564 75000 -1179861 417644 7272059 0.48650 0.51350 false false 3391622 5104068 8495690 120057952 10835958 109221994 41319410 23003610 18315800 25162371 13297280 11865091 147898575 SHORT TERM INVESTMENTS 18677313 C CERTIFICATE OF DEPOSITS 6347605 C MUTUAL FUNDS 9459694 F CORPORATE & GOVERNMENT BONDS 9863826 F EQUITIES 6978692 F 51327130 0 FEDERAL STUDENT LOAN FUNDS 23269466 DEPOSIT FOR AGENCY FUNDS 277112 BOND ISSUE SWAP LIABILITY 15627565 LIAB. ON SPLIT-INTEREST AGREEMENT 3183297 ACCRUED BOND INTEREST PAYABLE 356866 SCHOOL AS LENDER LIABILITY 0 42714306 Uses of Organization Endowment Funds Part V, Line 4 The investment objectives for the management of endowment assets are to manage contributions in a manner that will maximize the benefit intended by the donor, to produce current income to support the programs of the University, donor objectives and to achieve growth of both principal value and income over time sufficient to preserve or increase the purchasing power of the assets, thus protecting the assets against inflation. FIN 48 FOOTNOTE PART X, LINE 2 Western University of Health Sciences is a California non-profit corporation exempt from federal income taxes pursuant to Section 501(c)(3) of the Internal Revenue Code and has received a favorable determination letter from the Internal Revenue Service indicating the qualification for tax-exempt status. The University is also exempt from California income taxes under the related State provisions. Management believes that the University will continue to be exempt from income taxes. Accordingly, no provision for income taxes is made in the financial statements. The University is subject to income taxes for unrelated business income realized in connection with its unrelated business activities, if any. Park Hospital Inc., a majority owned for-profit subsidiary, Paso Oro Verde Inc., a wholly owned subsidiary, Western Center for Drug Development, a wholly owned subsidiary, and COMP Enterprises Inc., a wholly owned subsidiary are consolidated into the Universitys financial statements. Deferred income taxes are recognized for the tax consequences of temporary differences by applying statutory tax rates applicable to future years to differences between the financial statement carrying amounts and the tax bases of existing assets and liabilities. Temporary differences were not significant at June 30, 2011 and 2010. As of July 1, 2009, the University adopted accounting guidance related to uncertain tax positions. In accordance with this guidance, management is required to determine whether a tax position of the University is more likely than not to be sustained upon examination by the applicable taxing authority, including resolution of any related appeals or litigation processes, based on the technical merits of the position. The tax benefit to be recognized is measured as the largest amount of benefit that is greater than fifty percent likely of being realized upon ultimate settlement. Derecognition of a tax benefit previously recognized could result in the University recording a tax liability that would reduce net assets. The University has reviewed all significant tax positions for material tax jurisdictions including the US federal and California and Oregon state tax jurisdictions for which the statute of limitations remained open which is generally three years for federal and state taxes and four years for California. The open tax years are 2007 through 2010 for federal and 2006 through 2010 for California tax years and determined there were no material unrecognized tax benefits. However, the statue can be extended if there was a failure to file a necessary tax return. In addition, there have been no material changes in unrecognized benefits since July 1, 2010, nor are any anticipated in the 12 months following June 30, 2011. However, managements conclusions regarding this policy may be subject to review and adjustment at a later date based on factors including, but not limited to, on-going analyses of and changes to tax laws, regulations and interpretations thereof. There have been no related tax penalties or interest, which would be classified as operating or interest expense in the statement of operations. true true true true true true true false false false false false false false false true false true Racially Non-discriminatory Policy Schedule E, Line 3 RACIALLY NON-DISCRIMINATORY POLICY IS CLEARLY STATED DURING REGISTRATION VIA STUDENT HANDBOOK. RECEIVE GOVERNMENTAL AID OR ASSISTANCE SCHEDULE E, LINE 6A THE UNIVERSITY RECEIVES STUDENT FINANCIAL AID FUNDS WHICH ARE PASSED THROUGH TO THE STUDENT TO BE USED FOR TUITION AND OTHER QUALIFYING EDUCATIONAL COSTS. THE UNIVERSITY ALSO RECEIVES VARIOUS RESEARCH GRANTS FROM STATE AND FEDERAL AGENCIES TO CONDUCT MEDICAL RESEARCH ACTIVITIES, WHICH ARE WITHIN THE SCOPE OF THEIR EXEMPT PURPOSE. Trib to Caring 222197 169931 52266 73591 East-West Sch. 58070 44808 13262 12574 0 280267 214739 65528 86165 86165 -20637 true SCHOLARSHIPS 265 2173782 PROCEDURE FOR MONITORING GRANT FUNDS USAGE PART 1, LINE 2 GRANTS ARE PUT INTO A SEPARATE AND UNIQUE FUND AND THE EXPENDITURES ARE MONITORED AGAINST THE PROPOSAL AND AWARD. WESTERN UNIVERSITY MANAGES AN EXTENSIVE FINANCIAL AID PROGRAM TO ENSURE THAT A HIGHLY QUALIFIED AND DIVERSE POPULATION IS ABLE TO MATRICULATE AND CONTINUE TO GRADUATION. THE ASSISTANCE PROGRAMS TAKE TWO MAJOR FORMS: MERIT SCHOLARSHIPS AND NEED-BASED FINANCIAL AID. THE STUDENT FIRST APPLIES FOR ASSISTANCE, AND THEN BASED ON THE GRANT CRITERIA (FINANCIAL AND ENROLLMENT), THE ADVANCEMENT DEPARTMENT IN CONJUNCTION WITH THE FINANCIAL AID DEPARTMENT MONITORS THE AMOUNTS GIVEN BY THE GRANT. GRANT AND SCHOLARSHIP AWARD COMMITTEES AWARD THE RECIPIENTS. X X X true true X X X X X X false true false false false false false false false Philip Pumerantz 456093 0 0 0 1978 0 18375 0 83504 0 559950 0 0 0 Benjamin L Cohen 454268 0 0 0 1978 0 58375 0 1390 0 516011 0 0 0 Kevin D Shaw 270459 0 0 0 580 0 18375 0 14652 0 304066 0 0 0 Gary M Gugelchuk 240285 0 0 0 1053 0 18176 0 4933 0 264447 0 0 0 Clinton Adams 373545 0 0 0 1663 0 18375 0 1419 0 395002 0 0 0 Lawrence B Harkless 317428 0 0 0 1084 0 18375 0 1390 0 338277 0 0 0 Steven J Henriksen 277583 0 0 0 1814 0 18375 0 7474 0 305246 0 0 0 J Michael Finley 269776 0 0 0 580 0 18375 0 1498 0 290229 0 0 0 Thomas Fox 257760 0 0 0 1814 0 18375 0 6250 0 284199 0 0 0 SUPPLEMENTAL COMPENSATION INFORMATION PART 1, LINE 1A First class travel is allowed only for employees that have a special need or are traveling with a potential donor of the University. When external funds are generated (usually from a speaking engagement) by a Dean or Faculty member, a discretionary fund is created for the individual to help supplement their continuing education requirements or research projects. There are contract arrangements with certain individuals that pay for the Health costs which are included as compensation in their wage. In addition, the university will pay for social club dues for executive members to congregate and promote the university's mission while developing relationships that can further develop contributions to the university. SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN PART I, LINE 4B THE COO/PROVOST PARTICIPATES IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN. CONTRIBUTIONS TO THE PLAN ARE INCLUDED IN COMPENSATION REPORTED ON SCHEDULE J, PART II, COLUMN C. CA Statewide Communities Development Authority 690164610 130795LX3 2007-10-17 104900000 See Schedule O false false false 105350895 3904806 1648135 69450895 28432852 2009 true true true true false false false false true true false true true MELLON ALLIED IRISH 31.6 false false false DESCRIPTION OF BOND ISSUE PART I, LINE 1 AND PART V THE PROCEEDS FROM THE BONDS ISSUED ON 10/17/2007 WERE USED BY THE UNIVERSITY FOR THE PURPOSES OF FINANCING THE ACQUISITION, CONSTRUCTIONS, IMPROVEMENT, EXPANSION AND EQUIPPING OF VARIOUS EDUCATIONAL FACILITIES, DEFEASANCE OF CERTAIN OUTSTANDING TAX EXEMPT BONDS AND PAYING COSTS IN CONNECTION WITH THE ISSUANCE OF THE BONDS. THE DATES IN WHICH THE REFUNDED BONDS WERE ISSUED ARE: 04/01/1995 (1995 SERIES A); 05/01/1998 (1998 SERIES A); 06/08/2000 (2000 SERIES B); AND 10/30/2002 (SERIES 2002). DIFFERENCE BETWEEN ISSUE PRICE AND TOTAL PROCEEDS OF ISSUE PART I, COLUMN E THE DIFFERENCE IN THE ISSUE PRICE REPORTED IN PART I, COLUMN E AND TOTAL PROCEEDS REPORTED IN PART II, LINE 3 RELATES TO INVESTMENT EARNINGS ON NET PROCEEDS. X 2 25144 Fair Market Value X Rizzo Estate 1 19089 Appraisal X Medical Equipment 5 688194 Sales price false true false NONCASH PROPERTY NOT REPORTED AS REVENUE PART I, LINE 33 ITEMS OF A DE-MINIMUS AMOUNT OF $5,000, SUCH AS GIFT BASKETS, DOOR PRIZE AWARDS, AND RAFFLE ITEMS, ARE NOT REPORED AS REVENUE. form 990 review process part vi, section b, line 11a The University's process involving the distribution and review of the Form 990 is as follows: the final complete Form 990 is distributed to the University's Audit Committee of the Board prior to its filing with the Internal Revenue Service. A full review of the entire Form 990 is reviewed and discussed with each Board of Trustee member that serves on the full Board of Trustee appointed Audit Committee of the Board. After full review and discussion of information reflected in the Form 990, the Committee accepts the document and approves its filing to the Internal Revenue Service. The Form 990 is then signed by the University's Chief Financial Officer and electronically filed to the Internal Revenue Service. A presentation is provided by the Audit Committee of the Board to the full Board of Trustees summarizing the results of their review. While the June 30, 2011 Form 990 was reviewed and accepted by the Audit Committee of the Board prior to the filing with the Internal Revenue Service, copies of the final June 30, 2011 Form 990 will be mailed to the full Board of Trustees prior to filing. written conflict of interest policy part vi, section b, line 12c The university monitors and enforces its conflict of interest policy on a continuous basis that involves consideration of all potential interested persons. A comprehensive review and discussion of the adopted policy is held annually with all university board of trustee members. At this meeting, the university's legal counsel reviews in detail the current policy to assure understanding and compliance with the disclosure process. Board members are required to submit necessary disclosure forms indicating whether a conflict exists, and if yes, all related details involving the potential conflict. An independent review of the disclosure forms is performed by the university's legal counsel, and if necessary, follow up requests for additional information is made. Throughout the year, at board of trustee meetings, university's legal counsel monitors compliance by referencing the conflict of interest policy and communicates required steps to be taken in the event of a potential conflict of interest that may arise at any time. This process includes the university's officers as well. For key employees, meetings are held at the dean's council and operations group level that discuss the details of the conflict of interest policy and the necessary steps to be taken to disclose and report any potential conflicts. For potential transactions, agreements, and affiliations, etc. that may involve any university employee, a thorough review is conducted by university's legal counsel and other members of executive management. In the event of any potential conflict of interest exposure, required information is requested and reviewed on an independent basis. The interested person is excused from participating in any discussion or decisions that involve the outcome of any related transactions. In addition, during the employee orientation process, the university requires all new employees to review the conflict of interest policy and complete a conflict of interest disclosure form. If any potential conflicts of interests are disclosed, a complete review of information is completed by university's legal counsel to determine the nature, if any, of potential financial interests. If any conflict of interest is disclosed, then documentation is prepared outlining the nature of the conflict, discussions held with those involved in the conflict, steps taken to remove activities causing the conflict, and future follow up and monitoring of the potential conflict activity. determination of compensation part vi, section b, lines 15a and 15b The annual determination and approval of the compensation for the CEO of the University is made by the Executive Compensation Committee of the Board and the full Board of Trustees. The University's Officers compensation is determined by the CEO and approved by the Executive Compensation Committee of the Board and full Board of Trustees. The key employees' compensation levels are determined by their respective supervisors and approved by the Executive Compensation Committee of the Board. Although the University's Board of Trustees has given full authority to the Executive Compensation Committee of the Board to approve key employee compensation, a full review of these compensation levels is conducted annually prior to the employee's receipt of approved compensation. On an annual basis, the Executive Compensation Committee of the Board conducts a meeting to review proposed compensation levels for the University's CEO, Officers, and key employees. This process includes the hiring of an independent consultant that has a comprehensive understanding and ability to assess reasonable compensation levels for highly compensated employees in the higher education industry. The independent consultant advises the Committee on issues such as economic conditions, comparable salaries, character and condition of the University, employees' role in the University, prevailing rates of compensation for comparable positions in comparable organizations, etc. The independent report discloses what is considered reasonable compensation and maximum allowable compensation. The Committee also reviews internally prepared employee performance and qualification evaluations to assess value and benefit to the University. After a thorough review and discussion of all types of compensation and benefits being proposed for all officers and key employees, the Committee determines the reasonableness of compensation levels. Once it is assured that the Committee is composed entirely of individuals who do not have a conflict of interest and are unrelated to the subject employees, and information supporting the compensation data is independent and appropriate, the Committee formally approves and documents its determination of the compensation amounts. Documentation of this Committee process includes the terms of the transaction that was approved and the date approved. It also discloses Committee members present, as well as actions taken by anyone on the Committee in the event of a conflict of interest. The information and decisions made by the Committee are then forwarded to the full Board of Trustees for acceptance and approval. disclosure of organizational documents to the public part vi, section c, line 19 The conflict of interest policy is posted on the school website and is available to the public. The School's governing documents, Form 990 and financial statements are available upon request. reconciliation of net assets part xi, line 5 the other changes in net assets or fund balances is comprised of the following: unrealized gain on investments................................$1,536,569 prior period adjustment to include investment in subsidiaries..1,285,520 total $2,822,089 Park Hospital Inc 309 E Second Street Pomona CA 91766 951624418 Investments CA Western Univ C Corp 4830 508600 0.83440 Western Center for Drug Development 309 E Second Street Pomona CA 91766 208404637 Inactive CA Western Univ C Corp 800 3200 1.00000 Comp Enterpises Inc 309 E Second Street Pomona CA 91766 954066063 Inactive CA Western Univ C Corp 800 13720 1.00000 PASO ORO VERDE INC 309 E SECOND STREET POMONA CA 91766 330089211 FARMING CA WESTERN UNIV C CORP -69949 760000 1.00000 false false false true false false false false false false false false false false false true false false Paso Oro Verde Inc d 83178 Paso Oro Verde Inc p 13227