2026-04-15T10:58:05-05:00 2025-06-30 991856619 GRANT THORNTON ADVISORS LLC 53 STATE STREET SUITE 1600 BOSTON MA 02109 990 2024-07-01 953127273 WESTERN UNIVERSITY OF HEALTH SCIENCES WEST 9096236116 309 E SECOND STREET POMONA CA 917661854 JOSHUA MCFARLEN CFO 9096236116 2026-04-15 1 1 ERIN COUTURE P01390592 6177237900 2024 2025-03-06 01:10:19Z ROBIN FARIAS-EISNER 309 E SECOND STREET POMONA CA 917661854 325367906 0 X WWW.WESTERNU.EDU X 1977 CA TO PRODUCE, IN A HUMANISTIC TRADITION, HEALTH CARE PROFESSIONALS AND (CONT. ON SCH. O) BIOMEDICAL KNOWLEDGE THAT WILL ENHANCE AND EXTEND THE QUALITY OF LIFE IN OUR COMMUNITIES. 19 19 2021 100 133195 122366 29133154 29894838 223374410 234037457 8879541 18346241 3677055 3381226 265064160 285659762 5910729 6341033 0 0 161029443 169340302 0 0 5317463 80071549 85675277 247011721 261356612 18052439 24303150 573884675 595105029 260160797 256131992 313723878 338973037 TO PRODUCE, IN A HUMANISTIC TRADITION, HEALTH CARE PROFESSIONALS AND BIOMEDICAL KNOWLEDGE THAT WILL ENHANCE AND EXTEND THE QUALITY OF LIFE IN OUR COMMUNITIES. 0 0 194295166 6341033 224473748 WESTERN UNIVERSITY OF HEALTH SCIENCES IS ONE OF THE LARGEST GRADUATE UNIVERSITIES FOR THE HEALTH PROFESSIONS IN THE WESTERN UNITED STATES. WESTERN UNIVERSITY CONFERS DEGREES FOR PHYSICIANS, PHARMACISTS, NURSES, PHYSICIAN ASSISTANTS, PHYSICAL THERAPISTS, VETERINARIANS, DENTISTS, PODIATRISTS, OPTOMETRISTS, AND RESEARCHERS. 17499618 0 11854248 WESTERNU HEALTH CLINICS WERE FOUNDED BY WESTERN UNIVERSITY OF HEALTH SCIENCES IN 2008 AS ACADEMIC MEDICAL CENTERS. AS A TEACHING FACILITY, WESTERNU HEALTH SERVES RESIDENTS AS WELL AS TEACHING STAFF AND STUDENTS IN SOUTHERN CALIFORNIA AND PORTLAND AREAS. WESTERNU HEALTH WAS ESTABLISHED TO PROVIDE TEACHING, MEDICAL SERVICES, AND RESEARCH IN SPECIALTY AREAS INCLUDING EYE CARE, DENTAL CARE, PHARMACY, AND MANY MORE. 211794784 1 1 0 1 0 0 0 1 0 1 1 1 0 1 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 1 0 0 0 0 1 1 1 0 0 1 1089 0 1 2021 1 1 1 0 0 0 0 1 1 0 0 0 0 1 0 X 19 19 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA OR X X JOSHUA MCFARLEN 9096236116 309 EAST SECOND STREET POMONA CA 917661854 X DANIEL G ALDRICH III PHD MEMBER-AT-LARGE 1.00 0.00 X 0 0 0 MARCIA AUGSBURGER MEMBER-AT-LARGE 1.00 0.00 X 0 0 0 RICHARD BOND MEMBER-AT-LARGE 1.00 0.00 X 0 0 0 THE HON CONSUELO CALLAHAN MEMBER-AT-LARGE 1.00 0.00 X 0 0 0 TONY L CHAN MEMBER-AT-LARGE 1.00 0.00 X 0 0 0 MICHAEL COWGILL ESQ MEMBER-AT-LARGE 1.00 0.00 X 0 0 0 MIN CUI PHD MEMBER-AT-LARGE 1.00 0.00 X 0 0 0 KELLY G DAY MEMBER-AT-LARGE 1.00 0.00 X 0 0 0 JOHN FORBING MEMBER-AT-LARGE 1.00 0.00 X 0 0 0 JEFFREY HEATHERINGTON MEMBER-AT-LARGE (THRU 06/2025) 1.00 0.00 X 0 0 0 MATT S KIEL MEMBER-AT-LARGE (AS OF 04/2025) 1.00 0.00 X 0 0 0 CATHERINE MATER MEMBER-AT-LARGE 1.00 0.00 X 0 0 0 HEATHER MCDANIEL MEMBER-AT-LARGE 1.00 0.00 X 0 0 0 MICHAEL A OKATY JD LLM MEMBER-AT-LARGE 1.00 0.00 X 0 0 0 NATHANIEL OUBRE MEMBER-AT-LARGE 1.00 0.00 X 0 0 0 MARIA PALLAVICINI MEMBER-AT-LARGE 1.00 0.00 X 0 0 0 DIANNE PHILIBOSIAN PHD MEMBER-AT-LARGE 1.00 0.00 X 0 0 0 ROBIN RICHARDSON DO MEMBER-AT-LARGE 1.00 0.00 X 0 0 0 EDWARD TESSIER MEMBER-AT-LARGE (AS OF 11/2024) 1.00 0.00 X 0 0 0 CHRISTOPHER S WILSON MEMBER-AT-LARGE (AS OF 04/2025) 1.00 0.00 X 0 0 0 ROBIN FARIAS-EISNER PRESIDENT 40.00 0.00 X 1388089 0 26580 JOSHUA MCFARLEN CFO & TREASURER 40.00 0.00 X 376749 0 35215 PAULA CRONE PROVOST & CHIEF ACADEMIC OFFICER 40.00 0.00 X 552854 0 48237 DENISE CORNISH SR. VP ISS & COO (AS OF 09/2024) 40.00 0.00 X 338341 0 41386 ELIZABETH ZAMORA SR. VP EXTERNAL AFFAIRS 40.00 0.00 X 413246 0 28111 LISA WARREN DEAN COMP (AS OF 07/2024) 40.00 0.00 X 403890 0 26179 ANDREA GIUFFRIDA SR. VP RESEARCH & BIOTECH 40.00 0.00 X 347194 0 17095 ELIZABETH ANDREWS DEAN COLLEGE OF DENTISTRY 40.00 0.00 X 336919 0 41617 JOHN TEGZES DEAN COLLEGE OF VET. MED. 40.00 0.00 X 339103 0 32879 DANIEL WILSON PROFESSOR (THRU 04/2025) 40.00 0.00 X 415133 0 44725 DEVENDRA AGRAWAL DIR. TRANSLATIONAL RESEARCH/PROF. 40.00 0.00 X 411703 0 42778 SIMONE MILLER GENERAL COUNSEL 40.00 0.00 X 409121 0 33274 STEPHANIE BOWLIN SR. VP SPECIAL PROJECTS/ASSOC. PROF 40.00 0.00 X 374487 0 33518 ROBERT WARREN EXE. DIR. CLINICAL AFFAIRS/ASC. PROF 40.00 0.00 X 366228 0 41386 DAVID BARON PROFESSOR 40.00 0.00 X 340549 0 37772 SUNIL PRABHU DEAN COLLEGE OF PHARMACY 40.00 0.00 X 308175 0 39605 BRADLEY HENSON SR. VP OF ACADEMIC AFFAIRS 40.00 0.00 X 289308 0 34196 DAVID CONNETT FMR ACTG DEAN COMP (THRU 06/2024) 0.00 0.00 X 297905 0 28692 7708994 0 633245 477 1 1 0 NHPPMB LP 300 NORTH LASALLE STREET SUITE 160 CHICAGO IL 60654 LEASE MANAGEMENT 3894090 SAMARITAN HEALTH SERVICES INC 3600 NW SAMARITAN DR CORVALLIS OR 97330 LEASE MANAGEMENT 2619634 IMPERIAL SECURITY SERVICE INC 2555 POPLAR AVENUE MEMPHIS TN 38112 SECURITY 2219762 ABM SERVICES INC 165 TECHNOLOGY AVE IRVINE CA 92618 JANITORIAL 1641725 COMMUNITY MEMORIAL HEALTH SYSTEMS 147 N BRENT STREET VENTURA CA 93003 STUDENT ROTATIONS 1092273 135 10435569 19459269 4857629 29894838 TUITION REVENUE 611710 216445610 216445610 MEDICAL CLINIC REVENUE 621400 11854248 11854248 STUDENT FEES 611710 3254404 3254404 BOOKSTORE REVENUE 621400 2483195 2483195 234037457 13577235 13577235 1090687 0 1090687 1090687 133195 957492 44477150 39708144 4769006 4769006 4769006 OUTSIDE REVENUE 058633 688717 688717 PARKING 900099 512964 512964 OTHER EDUCATIONAL REVENUE 900099 429042 429042 659816 659816 2290539 285659762 236327996 133195 19303733 6341033 6341033 5026686 1754082 3272604 1348908 1348908 132174556 110335659 18601229 3237668 8088438 6622451 1276975 189012 12963230 10613712 2046591 302927 9738484 7973434 1537479 227571 1343500 158993 1184507 394589 394589 37283 37268 15 622325 622325 13257305 9767409 3133367 356529 860255 273714 560259 26282 2100249 1472718 572302 55229 5618988 3804042 1664439 150507 13156565 10772006 2077114 307445 4187669 3213855 853933 119881 1413387 1083945 321532 7910 4107249 3443884 580392 82973 8825937 7422961 1227493 175483 2012950 2012950 ROTATIONS EXPENSE 8618063 8618063 MED/LAB/STDNT SUPPLIES 4669810 4669810 REPAIRS AND MAINTENANCE 3893891 3295144 535000 63747 COST OF GOODS SOLD 3708273 3708273 6846989 5063420 1769270 14299 261356612 211794784 44244365 5317463 7585312 9166719 7975638 9954514 6883263 8544870 46894335 47861697 590823 1055112 3440883 4282648 279177876 139836055 138865532 139341821 163452833 153886817 137145264 162929068 61050792 58081763 573884675 595105029 33230640 29946715 27767160 29110896 78652524 74003458 120510473 123070923 260160797 256131992 X 262769008 274501265 50954870 64471772 313723878 338973037 573884675 595105029 X 24303150 2539099 -1593090 X 0 1 X 1 1 1 X 11944496 23101352 22653134 29133154 29894838 116726974 11944496 23101352 22653134 29133154 29894838 116726974 40654423 76072551 2321362 7221957 5607301 11195440 14667922 41013982 24610 1366895 3207481 2720918 2290539 9610443 167351399 1103042109 0.45460 0.51220 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OUTSIDE REVENUE - 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 2,169,287. 2023 AMOUNT: $ 752,472. 2024 AMOUNT: $ 688,717. STAFF PARKING - 2020 AMOUNT: $ 24,610. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 263,191. 2023 AMOUNT: $ 526,430. 2024 AMOUNT: $ 512,964. GAIN ON INVOLUNTARY CONVERSION - 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 0. 2023 AMOUNT: $ 490,092. 2024 AMOUNT: $ 0. OTHER EDUCATIONAL REVENUE - 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 0. 2023 AMOUNT: $ 0. 2024 AMOUNT: $ 429,042. ALL OTHER REVENUE - 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 1,366,895. 2022 AMOUNT: $ 775,003. 2023 AMOUNT: $ 951,924. 2024 AMOUNT: $ 659,816. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 37283 37283 0 PART II-B, LINE 1: THE UNIVERSITY PAID LOBBYING EXPENSES THROUGH MEMBERSHIP DUES OR SERVICES PAID TO OUTSIDE ORGANIZATIONS. THE LOBBYING EXPENSES WERE USED TO EXPAND OSTEOPATHIC AND/OR OTHER MEDICAL AWARENESS. X 0 68958524 808014 5918833 986731 790546 73908094 62536571 1580946 6264432 868565 554860 68958524 59131707 826738 3674622 764196 332300 62536571 64037245 5540733 -9445336 686968 313967 59131707 50437222 1266665 13217394 647525 236511 64037245 0.64000 0.33000 0.03000 0 0 527960 14162954 14690914 128487153 49795493 78691660 61588410 29667647 31920763 71283362 58347982 12935380 3128037 2024933 1103104 139341821 CORPORATE AND GOVERNMENT BONDS 160601474 F CERTIFICATES OF DEPOSIT 1890520 F CASH SURRENDER VALUE OF LIFE INS. 398474 F EQUITIES 38600 F 162929068 LEASE RIGHT-OF-USE ASSETS 57736735 NET CAMPUS NETWORK INSTALLATION 345028 58081763 CAPITAL LEASE OBLIGATION 63490148 FEDERAL STUDENT LOAN FUNDS 51983397 BOND ISSUE SWAP LIABILITY 6355300 LIABILITY ON SPLIT-INTEREST AGREEMENT 311416 DEPOSITS FOR AGENCY FUNDS 648256 ACCRUED BOND INTEREST PAYABLE 282406 123070923 X PART III, LINE 4: COLLECTIONS OF ART, HISTORICAL TREASURES, OR OTHER SIMILAR ASSETS WESTERNU HAS RECEIVED DISNEY COLLECTIBLE ITEMS, WHICH ARE MAINTAINED AT ONE OF THEIR CAMPUSES AS PUBLIC DISPLAY ITEMS. PART V, LINE 4: INTENDED USES OF ORGANIZATION'S ENDOWMENT FUNDS 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. PART X, LINE 2: FIN 48 (ASC 740) FOOTNOTE 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 BEEN RECOGNIZED BY THE CALIFORNIA FRANCHISE TAX BOARD AS A UNIVERSITY THAT IS EXEMPT FROM CALIFORNIA FRANCHISE AND INCOME TAXES UNDER SECTION 23701(D) OF THE CALIFORNIA REVENUE AND TAXATION CODE AND IS ALSO EXEMPT FROM OREGON INCOME TAXES UNDER THE RELATED STATE PROVISIONS. 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 IT 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. 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. 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 RACIALLY NON-DISCRIMINATORY POLICY IS CLEARLY STATED ON WESTERN UNIVERSITY'S WEBSITE IN THE UNIVERSITY CATALOG. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES STUDENT FINANCIAL AID FUNDS WHICH ARE PASSED THROUGH TO THE STUDENT TO BE USED FOR TUITION AND OTHER QUALIFYING 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. 1 SCHOLARSHIPS 402 6341033 PART I, LINE 2: PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS 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 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 FINANCIAL AID DEPARTMENT MONITORS THE AMOUNTS GIVEN BY THE GRANT. GRANT AND SCHOLARSHIP AWARD COMMITTEES AWARD THE RECIPIENTS. X 1 1 X X X X X 0 0 0 0 0 0 0 1 0 ROBIN FARIAS-EISNER PRESIDENT 1300000 0 0 0 88089 0 25875 0 705 0 1414669 0 0 0 PAULA CRONE PROVOST & CHIEF ACADEMIC OFFICER 512470 0 0 0 40384 0 25875 0 22362 0 601091 0 0 0 DANIEL WILSON PROFESSOR (THRU 04/2025) 405214 0 0 0 9919 0 25875 0 18850 0 459858 0 0 0 DEVENDRA AGRAWAL DIR. TRANSLATIONAL RESEARCH/PROF. 383148 0 24359 0 4196 0 25875 0 16903 0 454481 0 0 0 SIMONE MILLER GENERAL COUNSEL 408890 0 0 0 231 0 25875 0 7399 0 442395 0 0 0 ELIZABETH ZAMORA SR. VP EXTERNAL AFFAIRS 412715 0 0 0 531 0 15525 0 12586 0 441357 0 0 0 LISA WARREN DEAN COMP (AS OF 07/2024) 403543 0 0 0 347 0 25875 0 304 0 430069 0 0 0 JOSHUA MCFARLEN CFO & TREASURER 376520 0 0 0 229 0 5175 0 30040 0 411964 0 0 0 STEPHANIE BOWLIN SR. VP SPECIAL PROJECTS/ASSOC. PROF 371681 0 0 0 2806 0 25875 0 7643 0 408005 0 0 0 ROBERT WARREN EXE. DIR. CLINICAL AFFAIRS/ASC. PROF 365697 0 0 0 531 0 25875 0 15511 0 407614 0 0 0 DENISE CORNISH SR. VP ISS & COO (AS OF 09/2024) 337994 0 0 0 347 0 25875 0 15511 0 379727 0 0 0 ELIZABETH ANDREWS DEAN COLLEGE OF DENTISTRY 335394 0 0 0 1525 0 25875 0 15742 0 378536 0 0 0 DAVID BARON PROFESSOR 335790 0 0 0 4759 0 25852 0 11920 0 378321 0 0 0 JOHN TEGZES DEAN COLLEGE OF VET. MED. 336481 0 1097 0 1525 0 25480 0 7399 0 371982 0 0 0 ANDREA GIUFFRIDA SR. VP RESEARCH & BIOTECH 346201 0 0 0 993 0 5175 0 11920 0 364289 0 0 0 SUNIL PRABHU DEAN COLLEGE OF PHARMACY 307182 0 0 0 993 0 23863 0 15742 0 347780 0 0 0 DAVID CONNETT FMR ACTG DEAN COMP (THRU 06/2024) 217474 0 0 0 80431 0 22541 0 6151 0 326597 0 0 0 BRADLEY HENSON SR. VP OF ACADEMIC AFFAIRS 288793 0 0 0 515 0 22276 0 11920 0 323504 0 0 0 PART I, LINE 1A: HOUSING ALLOWANCE: A BOARD APPROVED HOUSING ALLOWANCE WAS PAID AS A TAXABLE BENEFIT TO THE PRESIDENT, WHICH IS INCLUDED IN COMPENSATION REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III). IN ADDITION, A HOUSING ALLOWANCE WAS PROVIDED TO THE PROVOST AS A TAXABLE BENEFIT AND IS ALSO INCLUDED IN COMPENSATION REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III). PART I, LINE 7: INDIVIDUALS RECEIVED BONUSES BASED ON PERFORMANCE AND OTHER FACTORS AND ARE REPORTED IN SCHEDULE J, PART II, COLUMN B(II). A CA STATEWIDE COMMUNITIES DEVELOPMENT AUTHORITY 680164610 13080SK52 2007-10-17 104900000 SEE PART VI 0 0 0 A 105350895 3904806 1914207 1648135 69450895 28432852 2009 1 1 1 1 A 0 0 1 1 0 0.00000 0.00000 0 0 1 A 0 0 0 1 1 1 WELLS FARGO BANK 30.000000000000 1 0 0 0 0 A 1 PART 1, LINE 1: 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). PART I, COLUMN E: THE DIFFERENCE IN THE ISSUE PRICE REPORTED IN PART I, COLUMN E AND TOTAL PROCEEDS IN PART II, LINE 3 RELATES TO INVESTMENT EARNINGS ON NET PROCEEDS. PART IV, LINE 2C: THE REBATE COMPUTATION WAS LAST PERFORMED IN APRIL 2020. X 1 4675000 FMV X MEDICAL EQUIP. 1 182629 FMV 0 1 0 PART I, LINE 33: ITEMS OF A DE-MINIMIS OF LESS THAN $10,000, SUCH AS GIFT BASKETS, DOOR PRIZE AWARDS, AND AUCTION ITEMS, ARE NOT REPORTED AS REVENUE. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE ("COMMITTEE") CONSISTS OF THE BOARD CHAIR, BOARD VICE CHAIR, TREASURER OF THE BOARD, AND SECRETARY OF THE BOARD. THE UNIVERSITY PRESIDENT SERVES AS AN EX-OFFICIO, NON-VOTING MEMBER OF THE COMMITTEE. THE COMMITTEE ACTS ON BEHALF OF THE BOARD, AS NEEDED, BETWEEN MEETINGS AND TO ASSUME SPECIFIC RESPONSIBILITIES NOT OTHERWISE ASSIGNED TO STANDING OR AD HOC COMMITTEES OR PROHIBITED BY THE UNIVERSITY BY-LAWS. THE COMMITTEE SHALL NOT HAVE AUTHORITY TO DO ANY OF THE FOLLOWING: (A) FILL VACANCIES ON THE BOARD OF TRUSTEES OR ON ANY COMMITTEE OF THE BOARD; (B) FIX COMPENSATION OF THE TRUSTEES FOR SERVING ON THE BOARD OR ON ANY COMMITTEE OF THE BOARD; (C) AMEND OR REPEAL BYLAWS OR ADOPT NEW BYLAWS; (D) AMEND OR REPEAL ANY RESOLUTION OF THE BOARD OF TRUSTEES WHICH BY ITS EXPRESS TERMS IS NOT AMENDABLE OR REPEALABLE; (E) APPOINT ANY OTHER COMMITTEES OF THE BOARD OR THE MEMBERS OF THOSE COMMITTEES; (F) APPROVE ANY TRANSACTION IN WHICH THE UNIVERSITY IS A PARTY AND ONE OR MORE TRUSTEES HAVE A MATERIAL FINANCIAL INTEREST; BETWEEN THE UNIVERSITY AND ONE OR MORE OF ITS TRUSTEES; OR BETWEEN THE UNIVERSITY OR ANY PERSON IN WHICH ONE OR MORE OF ITS TRUSTEES HAVE A MATERIAL FINANCIAL INTEREST. THE COMMITTEE HAS THE RESPONSIBILITY FOR FACILITATING THE BOARD'S ENGAGEMENT IN STRATEGIC PLANNING, ENFORCING CURRENT BOARD POLICIES, AND SERVING AS A SOUNDING BOARD FOR THE UNIVERSITY PRESIDENT AND BOARD CHAIR. FORM 990, PART VI, SECTION B, LINE 11B 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 BOARD AUDIT COMMITTEE PRIOR TO ITS FILING WITH THE INTERNAL REVENUE SERVICE. A FULL REVIEW OF THE ENTIRE FORM 990 IS COMPLETED WITH EACH BOARD AUDIT COMMITTEE MEMBER APPOINTED BY THE BOARD OF TRUSTEES. 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 REVIEWED AND ACCEPTED BY THE FULL BOARD OF TRUSTEES. FINALLY, THE FORM 990 IS SIGNED BY THE UNIVERSITY'S CHIEF FINANCIAL OFFICER AND ELECTRONICALLY FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, 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 BOARD OF TRUSTEES 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 GENERAL COUNSEL, AND IF NECESSARY, A CONFLICT OF INTEREST MANAGEMENT PLAN IS ESTABLISHED. THROUGHOUT THE YEAR, THE UNIVERSITY'S GENERAL COUNSEL MONITORS COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY AND CONFLICT OF INTEREST MANAGEMENT PLANS AND COMMUNICATES REQUIRED STEPS TO BE TAKEN IN THE EVENT OF A POTENTIAL CONFLICT OF INTEREST THAT MAY ARISE AT ANY TIME. FOR POTENTIAL CONTRACTS, OR AGREEMENTS 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 AND A CONFLICT OF INTEREST MANAGEMENT PLAN IS ESTABLISHED. THE INTERESTED PERSON IS EXCUSED FROM PARTICIPATING IN ANY DISCUSSION OR DECISIONS THAT INVOLVE THE OUTCOME OF ANY RELATED TRANSACTIONS. DURING THE EMPLOYEE PRE-ONBOARDING PROCESS, THE UNIVERSITY REQUIRES ALL NEW EMPLOYEES TO REVIEW THE CONFLICT OF INTEREST POLICY AND COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM. IF THE EMPLOYEE DISCLOSES ANY POTENTIAL CONFLICTS, HR WILL REVIEW AND FACILITATE THE CREATION OF A MANAGEMENT PLAN TO SPECIFY UNIVERSITY EXPECTATIONS REGARDING THE DISCLOSED CONFLICT, BASED ON THE NATURE OF THE DISCLOSED CONFLICT. FOR DISCLOSURES INVOLVING HIGH-LEVEL, COMPLEX, OR POTENTIAL FINANCIAL INTERESTS, HR WILL COORDINATE WITH UNIVERSITY LEGAL COUNSEL TO DETERMINE THE NATURE, IF ANY, OF POTENTIAL FINANCIAL INTERESTS. FOR ALL DISCLOSURES OF A POTENTIAL CONFLICT OF INTEREST, HR PREPARES DOCUMENTATION OUTLINING THE NATURE OF THE CONFLICT AND CONFERS WITH THOSE INVOLVED, ALONG WITH OTHER RELEVANT PARTIES, TO PLAN AND IMPLEMENT MEASURES FOR REMOVING OR PROPERLY MONITORING THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 THE ANNUAL DETERMINATION AND APPROVAL OF THE COMPENSATION FOR THE PRESIDENT OF THE UNIVERSITY IS RECOMMENDED BY THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD ("EXECUTIVE COMPENSATION COMMITTEE") AND APPROVED BY THE FULL BOARD OF TRUSTEES. THE UNIVERSITY'S OFFICERS' COMPENSATION IS DETERMINED BY THE PRESIDENT AND APPROVED BY THE EXECUTIVE COMPENSATION COMMITTEE AND FULL BOARD OF TRUSTEES. THE COMPENSATION LEVELS OF REVIEWED EXECUTIVE AND SENIOR LEVEL EMPLOYEES' (AS DEFINED BY THE EXECUTIVE COMPENSATION COMMITTEE OPERATING PROTOCOL), ARE DETERMINED BY THEIR RESPECTIVE SUPERVISORS AND APPROVED BY THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD. ON AN ANNUAL BASIS, THE EXECUTIVE COMPENSATION COMMITTEE CONDUCTS A MEETING TO REVIEW PROPOSED COMPENSATION LEVELS FOR THE UNIVERSITY'S PRESIDENT, UNIVERSITY OFFICERS, EMPLOYEES THAT FALL UNDER THE DISQUALIFIED PERSONS RULE AS WELL AS OTHER EXECUTIVE/SENIOR LEVEL EMPLOYEES AS DEFINED BY THE EXECUTIVE COMPENSATION COMMITTEE OPERATING PROTOCOL. 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 MARKET DATA, SALARY RANGES, 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 RANGE COMPENSATION. THE COMMITTEE ALSO REVIEWS INTERNALLY PREPARED EMPLOYEE QUALIFICATIONS AND JOB DESCRIPTIONS 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 PROCESS AND APPLICABLE ITEMS IS STORED IN THE "ONBOARD" SYSTEM. MINUTES CONSISTING OF MEMBERS PRESENT, AS WELL AS ACTIONS TAKEN BY ANYONE ON THE COMMITTEE IN THE EVENT OF A CONFLICT OF INTEREST ARE ALSO STORED IN THE "ONBOARD" SYSTEM. THE INFORMATION AND DECISIONS MADE BY THE COMMITTEE MAY BE FORWARDED TO THE FULL BOARD OF TRUSTEES FOR ACCEPTANCE AND APPROVAL, AS APPLICABLE IN ALIGNMENT WITH BOARD OF TRUSTEE APPROVED CHARTER AND EXECUTIVE COMPENSATION COMMITTEE OPERATING PROTOCOL. FORM 990, PART VI, SECTION C, LINE 19 THE CONFLICT OF INTEREST POLICY, FORM 990, AND FINANCIAL STATEMENTS ARE POSTED ON THE WEBSITE AND ARE MADE WIDELY AVAILABLE TO THE PUBLIC. THE SCHOOL'S GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VII, SECTION A SUNIL PRABHU AND BRADLEY HENSON ARE BOTH REPORTED ON THE FORM 990, PART VII, SECTION A AS FOMER INDIVIDUALS DUE TO THEIR PRIOR POSITIONS AS KEY EMPLOYEES OF THE ORGANIZATION. BOTH INDIVIDUALS REMAIN ACTIVE EMPLOYEES OF WUHS, FOR WHICH THEY ARE NOTED WITHIN PART VII WITH THEIR CURRENT TITLES AND CALENDAR YEAR 2024 COMPENSATION. HOWEVER, AS NEITHER OF THESE INDIVIDUALS CONTINUE TO HOLD THE RESPONSIBILITIES ASSOCIATED WITH THE KEY EMPLOYEE POSITION, THEY HAVE BEEN NOTATED AS A FORMER EMPLOYEE AS IT PERTAINS TO THIS ROLE. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT INTEREST AGREEMENTS 569,198. DIFFERENTIAL IN VALUE OF SWAP CONTRACT -709,700. SUBSIDIARY ACTIVITY -1,452,588. 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