2026-04-10T10:11:50-05:00 2025-05-31 366055558 GRANT THORNTON LLP 757 THIRD AVE 9TH FLOOR NEW YORK NY 100172013 990 2024-06-01 741159753 BAYLOR UNIVERSITY BAYL 2547103731 ONE BEAR PLACE 97043 WACO TX 767987043 Susan Anz Sr Associate VP of Finance & Treasu 2547103731 2026-04-10 1 0 DANIEL ROMANO P00504182 2125990100 2024 2025-03-06 01:10:19Z LINDA LIVINGSTONE ONE BEAR PLACE 97096 WACO TX 767987096 1558634773 0 X WWW.BAYLOR.EDU X 1845 TX THE MISSION OF BAYLOR UNIVERSITY IS PRESENTED ON SCHEDULE O. THE MISSION OF BAYLOR UNIVERSITY IS TO EDUCATE MEN AND WOMEN FOR WORLDWIDE LEADERSHIP AND SERVICE BY INTEGRATING ACADEMIC EXCELLENCE AND CHRISTIAN COMMITMENT WITHIN A CARING COMMUNITY. 32 26 11592 0 15657324 8550557 94531839 117129976 1229447252 1296161338 124858026 127954253 13659889 17105898 1462497006 1558351465 429886412 442533209 0 0 558091456 591971913 214061 368347 17784013 422244480 468845940 1410436409 1503719409 52060597 54632056 4195534415 4382957446 1023458888 1141821233 3172075527 3241136213 X THE MISSION OF BAYLOR UNIVERSITY IS TO EDUCATE MEN AND WOMEN FOR WORLDWIDE LEADERSHIP AND SERVICE BY INTEGRATING ACADEMIC EXCELLENCE AND CHRISTIAN COMMITMENT WITHIN A CARING COMMUNITY. 0 0 676669881 408509204 1069609996 INSTRUCTION:BAYLOR UNIVERSITY STANDS AS ONE OF THE PREMIER INSTITUTIONS OF HIGHER EDUCATION IN THE WORLD.CHARTERED IN 1845 BY THE REPUBLIC OF TEXAS AND AFFILIATED WITH THE BAPTIST GENERAL CONVENTION OFTEXAS, THE UNIVERSITY IS THE OLDEST CONTINUOUSLY OPERATING INSTITUTION OF HIGHER LEARNING IN THE STATE OF TEXAS. AS PART OF FULFILLING BAYLOR'S MISSION OF INSTRUCTING AND EDUCATING MEN AND WOMEN FOR WORLDWIDE LEADERSHIP AND SERVICE, BAYLOR PURSUES INITIATIVES SUCH AS LOWER STUDENT-FACULTY RATIO (15:1), SMALLER CLASS SIZE (AVERAGE CLASS SIZE IS 27), RESEARCH OPPORTUNITIES FOR STUDENTS, AND GREAT FACILITIES FOR LEARNING AND LIVING. (CONTINUED ON SCHEDULE O)BAYLOR'S APPROXIMATELY 20,000 STUDENTS TYPICALLY COME FROM ALL 50 STATES, THE DISTRICT OF COLUMBIA, AND 90 COUNTRIES AROUND THE WORLD. THE UNIVERSITY OFFERS 133 BACCALAUREATE, 82 MASTER'S, 50 DOCTORAL, NUMEROUS ONLINE GRADUATE PROFESSIONAL PROGRAMS, THE EDUCATION SPECIALIST AND THE JURIS DOCTOR DEGREE PROGRAMS THROUGH 12 ACADEMIC UNITS. THE UNIVERSITY ALSO EQUIPS STUDENTS WITH BOTH KNOWLEDGE AND EXPERIENCE TO PURSUE GOD'S CALL TO MINISTRY BY OFFERING 7 MASTER DEGREES AND 2 DOCTORATE DEGREES THROUGH TRUETT SEMINARY. ADDITIONALLY, THE UNIVERSITY CONDUCTS GRADUATE PROGRAMS WITH THE U.S. ARMY AT SEVERAL U.S. ARMY LOCATIONS ACROSS THE UNITED STATES. STUDENTS FIND THE BEST OF A LARGE UNIVERSITY THROUGH EXCEPTIONAL BREADTH AND DEPTH OF PROGRAMS ALONG WITH EXTRAORDINARY PERSONAL ATTENTION FOR THE INDIVIDUAL STUDENT. BAYLOR STUDENTS GARNER COMPETITIVE SCHOLARSHIPS SUCH AS FULBRIGHT, TRUMAN, GOLDWATER, ROTARY, CRITICAL LANGUAGE, AND NATIONAL SCIENCE FOUNDATION GRADUATE FELLOWSHIPS. MORE THAN 90% OF BAYLOR UNDERGRADUATE STUDENTS RECEIVE FINANCIAL ASSISTANCE. NAMED EVERY YEAR SINCE 2011 BY THE CHRONICLE OF HIGHER EDUCATION AS A "GREAT COLLEGE TO WORK FOR", BAYLOR CONSISTENTLY RANKS IN THE TOP 100 NATIONAL DOCTORAL GRANTING UNIVERSITIES BY U.S. NEWS & WORLD REPORT, AS A "BEST BUY" BY THE FISKE GUIDE TO COLLEGES, AND A "BEST VALUE" BY KIPLINGER'S PERSONAL FINANCE. 247676131 25104942 125609695 STUDENT SERVICES:BAYLOR UNIVERSITY'S STUDENT SERVICES AND ACTIVITIES CONTRIBUTE TO STUDENTS' SPIRITUAL, SOCIAL AND PHYSICAL WELL-BEING. STUDENT SERVICES AND ACTIVITIES INCLUDE AREAS SUCH AS CAREER GUIDANCE, JOB PLACEMENT UPON GRADUATION, ENROLLMENT MANAGEMENT, STUDENT FINANCIAL AID, STUDENT ACTIVITIES, STUDENT ORGANIZATIONS, INTRAMURALS, HEALTH CENTER, BEAUCHAMP ADDICTION RECOVERY CENTER, AND INTERCOLLEGIATE ATHLETICS. 90271925 37216525 ACADEMIC SUPPORT:BAYLOR UNIVERSITY PROVIDES ACADEMIC SUPPORT SERVICES FOR THE PRIMARY MISSIONS OF INSTRUCTION, AS WELL AS RESEARCH AND PUBLIC SERVICE ACTIVITIES. ACADEMIC SUPPORT SERVICES INCLUDE AREAS SUCH AS LIBRARIES, TECHNOLOGY SUPPORT, MUSEUMS AND SERVICES THAT DIRECTLY ASSIST INSTRUCTIONAL ACTIVITIES. 216758544 8921063 63725122 RESEARCH, PUBLIC SERVICE AND AUXILIARIES:OTHER PROGRAM SERVICE AREAS INCLUDE RESEARCH ACTIVITIES, PUBLIC SERVICE ACTIVITIES AND AUXILIARY ENTERPRISES OPERATED BY THE UNIVERSITY. RESEARCH ACTIVITY INCLUDES GRANTS AND CONTRACTS TO CONDUCT SPONSORED RESEARCH, PRIMARILY IN FIVE KEY INITIATIVES: HEALTH; DATA SCIENCES; MATERIALS SCIENCE; HUMAN FLOURISHING, LEADERSHIP, AND ETHICS; AND LATIN AMERICA. PUBLIC SERVICE INCLUDES ACTIVITIES WHICH PRIMARILY BENEFIT INDIVIDUALS AND ORGANIZATIONS EXTERNAL TO THE UNIVERSITY. AUXILIARY ENTERPRISES ARE COMPRISED GENERALLY OF THE FOLLOWING ITEMS: RESIDENCE HALLS, DINING SERVICES, BOOKSTORE, RENTAL PROPERTIES AND VENDING SERVICES. 216758544 8921063 63725122 1231376481 1 1 0 1 0 1 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 1 1 0 0 1 1 1 1 0 1 0 0 0 1 1 1 1 0 1 1 0 0 1 1 1 0 0 0 1 27222 0 1 11592 1 1 1 0 0 0 0 1 1 0 0 0 1 0 X 32 26 1 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 AK CO GA KY MD MI NH OH OK OR SC X X SUSAN ANZ 2547103731 700 S UNIVERSITY PARKS DR WACO TX 767061003 X ALICIA DH MONROE REGENT 1.00 0.00 X 153 0 0 ANGELIQUE CUNNINGHAM REGENT 8.00 0.00 X 407 0 0 ASHLEY HOOPER REGENT 3.00 0.00 X 296 0 0 B TODD PATTERSON REGENT 10.00 0.00 X 164 0 0 BARBARA CARGILL REGENT 15.00 0.00 X 894 0 0 CAREY HENDRICKSON REGENT 8.00 0.00 X 843 0 0 DAVID BROOKS REGENT 5.00 0.00 X 153 0 0 DON WILLET REGENT 10.00 0.00 X 913 0 0 GAIL STEWART REGENT 6.00 0.00 X 168 0 0 JACK HARPER REGENT 10.00 0.00 X 153 0 0 JAY A BROWN REGENT 4.00 0.00 X 153 0 0 JILL MANNING REGENT 4.00 0.00 X 184 0 0 JULIE HERMANSEN TURNER REGENT 5.00 0.00 X 153 0 0 KATIE JO LUNINGHAM REGENT 5.00 0.00 X 1024 0 0 LESLEY MCALLISTER REGENT 40.00 0.00 X 134964 0 14800 MANNY RUIZ REGENT 5.00 0.00 X 1103 0 0 MARTHA DELEHANTY REGENT 2.00 0.00 X 488 0 0 MELISSA PURDY MINES REGENT 1.00 0.00 X 153 0 0 MICHAEL MCFARLAND REGENT 4.00 0.00 X 5153 0 0 MICHAEL P HEISKELL REGENT 2.00 0.00 X 3060 0 0 PAULA HURD REGENT 5.00 0.00 X 153 0 0 RENE MACIEL REGENT 2.00 0.00 X 1788 0 0 SARAH GAHM REGENT 1.00 0.00 X 823 0 0 STEPHEN WELLS REGENT 8.00 0.00 X 5666 0 0 TODD A REPPERT REGENT 2.00 0.00 X 164 0 0 TYLER C COOPER REGENT 3.00 0.00 X 188 0 0 WILLIAM MEARSE REGENT 8.00 0.00 X 397 0 0 XAVIER DAWES REGENT 7.00 0.00 X 2902 0 0 ANDREW ARTERBURY REGENT 40.00 0.00 X 123213 0 73938 KYLE DEAVER REGENT 7.00 0.00 X 69 0 0 MEGHAN FLETCHER REGENT 12.00 0.00 X 11590 0 0 CHARLES WILLIAMS REGENT 2.00 0.00 X 76 0 0 BRETT POWELL ASSOC VP OF FINANCE (THRU 07/2024) 60.00 0.00 X 174879 0 29782 CHERYL GOCHIS VP AND CHIEF HR OFFICER 60.00 0.00 X 386026 0 95522 CHRIS HOLMES GENERAL COUNSEL & CHIEF LE 50.00 0.00 X 600679 0 152609 CURTIS REYNOLDS VP OF BUSINESS & FINANCE & 50.00 0.00 X 519302 0 45136 DAVE CLENDENNEN ASST VP FOR FIN SYS & ASST 45.00 0.00 X 182395 0 43132 FELICIA CRUZ DIR OF LEGAL INTL SERVICES 40.00 0.00 X 76113 0 18004 JASON COOK VP FOR MKT & COMM & CMO 55.00 5.00 X 505488 0 176610 JASON DIFFENDERFER VP FOR UNIVERSITY ADVANCEM 50.00 0.00 X 514339 0 58735 TAYLOR J PERRY ASST TO GENERAL COUNSEL & ADMIN DIRECTOR 40.00 0.00 X 63768 0 17003 KEVIN JACKSON VICE PRESIDENT FOR STUDENT 60.00 0.00 X 354494 0 63620 KRISTY J ORR BOARD PROFESSIONAL 40.00 0.00 X 269857 0 65459 LINDA LIVINGSTONE PRESIDENT 70.00 6.00 X 2579024 0 454299 MACK RHOADES VP & DIRECTOR OF ATHLETICS 60.00 0.00 X 3136773 0 463584 NANCY BRICKHOUSE VICE PRESIDENT AND PROVOST 60.00 0.00 X 698713 0 101572 ROBYN DRISKELL VP & CHIEF COMPLIANCE OFFICER 50.00 0.00 X 368649 0 131842 SUSAN ANZ SR ASSOC VP OF FIN & TREAS 55.00 0.00 X 329637 0 128876 TIFFANY HOGUE CHIEF OF STAFF TO THE PRES 48.00 0.00 X 293724 0 61372 TOBY BARNETT ASSOC VP OF ENGAGEMENT 50.00 0.00 X 308537 0 156339 DAVID MOREHEAD CHIEF INVESTMENT OFFICER 60.00 0.00 X 1249959 0 63697 GARY CARINI VICE PROVOST 55.00 0.00 X 413237 0 92694 LEE NORDT DEAN OF ARTS & SCIENCES 40.00 0.00 X 323793 0 54899 DAVE ARANDA FOOTBALL HEAD COACH 90.00 0.00 X 4299627 0 260010 NICKI COLLEN HEAD WOMEN'S BASKETBALL CO 80.00 0.00 X 1388517 0 119219 SCOTT DREW HEAD MEN'S BASKETBALL COAC 60.00 1.00 X 6708797 0 127555 JACOB SPAVITAL FOOTBALL OFFENSIVE COORDINATOR 100.00 0.00 X 999279 0 61165 RENEE HANNA MANAGING DIR OF INVESTMENTS 40.00 0.00 X 864068 0 54087 27907282 0 3185560 1173 1 1 0 JE DUNN CONSTRUCTION COMPANY 1001 LOCUST ST KANSAS CITY MO 64106 CONSTRUCTION SERVICES 83836211 AUSTIN COMMERCIAL LP 3535 TRAVIS ST DALLAS TX 75204 CONSTRUCTION SERVICES 43323558 ARAMARK SERVICES INC 2400 MARKET ST PHILADELPHIA PA 19103 FACILITY MAINTENANCE 41149104 TDINDUSTRIES INC PO BOX 300008 DALLAS TX 75303 FACILITY MAINTENANCE 14768961 2U INC 7900 HARKINS ROAD LANHAM MD 20706 ONLINE ADADEMIC PROGRAM MANAGEMENT 14596787 362 X 13839606 209152 14183018 88898200 7490210 117129976 TUITION AND FEES 611310 1069609996 1069609996 ROOM AND BOARD 611310 68644588 68644588 ATHLETICS 611310 56965107 54675758 1051213 1238136 GOVERNMENT CONTRACTS 611310 53860909 53860909 EDUCATIONAL REVENUE 611310 37216525 36698651 517874 9864213 9094930 769283 1296161338 125987249 12738983 113248266 10357009 10357009 6918600 0 6918600 6918600 579971 6338629 1967004 0 1967004 1967004 1967004 113597 209152 283308 -169711 -169711 1558351465 1292584832 15657324 132979333 8632631 8632631 433236240 433236240 664338 664338 14439033 2478774 10967238 993021 1052744 866087 186657 439672276 397841657 32151871 9678748 37912700 2249636 35663064 72121332 17006391 52392494 2722447 26773828 2882640 23891188 15544946 15544946 4228408 4228408 427158 427158 391012 391012 368347 368347 9548385 9548385 67961140 57823375 8983059 1154706 5734122 3682245 1820181 231696 40384328 36054524 3678802 651002 26700911 9938773 16471855 290283 241731 241731 79632750 75649970 3910414 72366 34254836 32227206 1270172 757458 2050266 1677685 326699 45882 25399900 21746175 3653725 76632703 70058995 6573708 4329184 4329184 UNRELATED BUSINESS INCO 7952992 7952992 NON-CAPITALIZED MINOR A 7687323 5631018 1978349 77956 SPONSORED PROJECT SUBCO 7214647 7214647 BAD DEBTS 5902194 226999 5675195 46627004 23470614 22416289 740101 1503719409 1231376481 254558915 17784013 943436 1984919 224987432 221047130 91404296 89904257 84114322 101151537 1294373 1294373 238036 473611 693362 692081 60376381 63413359 2335073657 841741167 1439732270 1493332490 16892760 18948343 2273156100 2389161881 1701647 1553465 4195534415 4382957446 155014664 120781075 100467029 122335197 187374378 269236607 20060 20060 467095 0 580115662 629448294 1023458888 1141821233 X 1304899330 1313960038 1867176197 1927176175 3172075527 3241136213 4195534415 4382957446 X 54632056 13563875 864755 X 0 1 X 1 1 1 X 130926620 153185668 168028590 94531839 117129976 663802693 130926620 153185668 168028590 94531839 117129976 663802693 663802693 84307738 88555531 111600189 130205739 143262858 557932055 1054542 1148696 84620 1351747 1351733 4991338 1226726086 6194153805 0.54110 0.53130 X Schedule A, Part II, Line 10, Explanation of Other Income: SPONSORSHIP INCOME - 2020 Amount: $ 864,853. 2021 Amount: $ 885,623. 2023 Amount: $ 1,221,116. 2024 Amount: $ 1,238,136. INCOME FROM FUNDRAISING EVENTS - 2020 Amount: $ 189,689. 2021 Amount: $ 263,073. 2022 Amount: $ 84,620. 2023 Amount: $ 130,631. 2024 Amount: $ 113,597. SCHEDULE A, PART I - SELECTION OF LINE 2 BAYLOR UNIVERSITY HAS BEEN RECOGNIZED AS A SCHOOL DESCRIBED IN SECTION 170(B)(1)(A)(II), AND AS SUCH, BAYLOR HAS CHECKED BOX 2 ON SCHEDULE A, PART I AND COMPLETED SCHEDULE E. BAYLOR UNIVERSITY ALSO SATISFIES THE PUBLIC SUPPORT TEST AS DESCRIBED UNDER BOX 7 ON SCHEDULE A, PART I. BAYLOR HAS ELECTED TO COMPLETE SCHEDULE A, PART II IN ORDER TO QUALIFY FOR THE SPECIAL RULE FOR REPORTING CONTRIBUTIONS ON SCHEDULE B. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 0 1 0 1 391012 1 406341 0 1 0 797353 0 Part II-B, Line 1: INSTITUTIONAL LOBBYING ACTIVITIES WERE DIRECTED BOTH INTERNALLY AND BY AN OUTSIDE GOVERNMENTAL RELATIONS FIRM AND FIVE INDEPENDENT CONTRACTORS. THE OFFICE OF GOVERNMENTAL RELATIONS MAINTAINED CONTACT WITH LOCAL, STATE, AND FEDERAL OFFICIALS THROUGH MEETINGS IN WACO, AUSTIN, AND WASHINGTON DC TO DISCUSS MATTERS RELATING TO HIGHER EDUCATION, INCLUDING STUDENT FINANCIAL AID, TAX POLICY, FEDERAL RESEARCH FUNDING, POVERTY AND HUNGER, STATE FUNDING FOR DEVELOPMENT OF TECHNOLOGICAL INFRASTRUCTURE, AND MISCELLANEOUS LOCAL MATTERS. A VOLUNTEER STUDENT ORGANIZATION, THE BAYLOR AMBASSADORS, WORKED CLOSELY WITH THE OFFICE OF GOVERNMENTAL RELATIONS AND ASSISTED IN ADVOCATING TO THE STATE LEGISLATURE AND U.S. CONGRESS ON ISSUES BENEFICIAL TO BAYLOR STUDENTS, SUCH AS FINANCIAL AID PROGRAMS. THE UNIVERSITY RESPONDED "YES" ON LINE 1D BUT REPORTED ZERO EXPENSE AS THE UNIVERSITY DID SEND EMAILS BUT WAS NOT ABLE TO APPORTION THE INSIGNIFICANT COSTS ASSOCIATED WITH SUCH EMAILS. SIMILARLY, THE UNIVERSITY RESPONDED "YES" ON LINE 1I BUT REPORTED ZERO RELATED EXPENSES AS BAYLOR PAID MEMBERSHIP DUES TO THE INDEPENDENT COLLEGES AND UNIVERSITIES OF TEXAS, THE NATIONAL ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES, THE AMERICAN COUNCIL ON EDUCATION, AND THE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS. THESE ORGANIZATIONS MAY HAVE ENGAGED IN LOBBYING ACTIVITIES; HOWEVER, NO DUES WERE SPECIFICALLY ALLOCATED TO LOBBYING COSTS. THE TOTAL AMOUNT SPENT BY BAYLOR ON LOBBYING ACTIVITIES REPRESENTS AN INSIGNIFICANT PORTION OF THE UNIVERSITY'S TOTAL EXPENSES. 7 3281 171548 3885665 1 1 63780 17926898 X X X 0 0 1 X 2103057183 40684642 129430452 42817230 55552633 2174802414 1961763008 31354693 200709951 39584106 51186363 2103057183 1993616602 48176376 1970824 34716517 47284277 1961763008 1829449463 45014379 191747006 30577331 42016915 1993616602 1381438203 35647488 483615079 29949805 41301502 1829449463 0.18000 0.52000 0.30000 1 1 1 102101708 102101708 1953656561 697441847 1256214714 1444694 1312982 131712 251576024 138212668 113363356 26294670 4773670 21521000 1493332490 21212 F HIGH GROUND MANAGED FUNDS 214728907 F ASSETS HELD BY OTHERS 55874610 F BAYLOR UNIVERSITY FUND 2023305890 F REAL ESTATE & OTHER 1045601 F BOND PROCEEDS HELD BY TRUSTEES 94185662 F 2389161882 CONDITIONAL ASSET RETIREMENT OBLIGATION 4821695 ANNUITES PAYABLE 6119646 ACCRUED POSTRETIREMENT BENEFITS 37952233 TAXABLE BONDS 577445584 FEDERAL LOAN FUNDS REFUNDABLE 269181 LEASE LIABILITY 2839955 629448294 X 1575144342 13563875 3229002 16792877 1558351465 0 1558351465 1506290394 2570985 2570985 1503719409 0 1503719409 Part IV, Line 2b: SEE STATEMENT Part X, Line 2: SEE STATEMENT Part XI, Line 2d - Other Adjustments: INCOME FROM SUBSIDIARY 941,333. ADJUSTMENT FOR LIFE EXPECTANCY 2,004,362. FUNDRAISING EXPENSES PREVIOUSLY NETTED 283,308. ROUNDING -1. Part XII, Line 2d - Other Adjustments: EXPENSES FROM SUBSIDIARY 1,148,071. FUNDRAISING EXPENSES PREVIOUSLY NETTED 283,308. POST RETIREMENT BENEFIT CHANGE 1,139,604. ROUNDING 2. SCHEDULE D, PART III, LINE 4 BAYLOR CURRENTLY HOLDS COLLECTIONS OF ART, BOOKS, AND OTHER MEMORABILIA FOR EDUCATIONAL PURPOSES, INCLUDING PUBLIC EXHIBITION AND SCHOLARLY RESEARCH. SCHEDULE D, PART IV, LINE 2B THE FUNDS HELD REPRESENT THE UNIVERSITY ACTING IN AN AGENCY CAPACITY FOR VARIOUS STUDENT AND PROFESSIONAL ORGANIZATIONS, AS WELL AS OUTSIDE SCHOLARSHIPS. SCHEDULE D, PART V, LINE 4 THE PRIMARY OBJECTIVE OF THE ENDOWMENT PORTFOLIO IS TO PRESERVE AND ENHANCE THE REAL PURCHASING POWER OF THE PORTFOLIO ASSETS TO HELP MAINTAIN INTERGENERATIONAL EQUITY OF THE CORPUS. THIS WILL OCCUR WHILE ALSO PROVIDING REASONABLE ANNUAL SUPPORT TO BAYLOR. SCHEDULE D, PART X, LINE 2 TAX STATUS & ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES THE UNIVERSITY IS EXEMPT FROM INCOME TAX UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE ("IRC") OF 1986, AS AMENDED, AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3) OF THE IRC AS EVIDENCED BY ITS MOST RECENT DETERMINATION LETTER DATED MAY 23, 2002. THE UNIVERSITY HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION BECAUSE IT QUALIFIES UNDER SECTION 509(A)(1) AS AN EDUCATIONAL INSTITUTION, AND DONATIONS TO IT QUALIFY FOR DEDUCTION AS CHARITABLE CONTRIBUTIONS. HOWEVER, INCOME GENERATED FROM ACTIVITIES UNRELATED TO THE UNIVERSITY'S EXEMPT PURPOSE IS SUBJECT TO TAX UNDER IRC SECTION 511. THE UNIVERSITY FILES UNRELATED BUSINESS INCOME TAX AND OTHER RETURNS AS REQUIRED BY GOVERNMENT AUTHORITIES. TAX POSITIONS TAKEN RELATING TO THE UNIVERSITY'S TAX-EXEMPT STATUS, UNRELATED BUSINESS INCOME ACTIVITIES TAXABLE INCOME AND DEDUCTIBILITY OF EXPENSES, AND OTHER MISCELLANEOUS TAX POSITIONS TAKEN BY THE UNIVERSITY WOULD MORE LIKELY THAN NOT BE SUSTAINED BY EXAMINATION. ACCORDINGLY, THE UNIVERSITY HAS NOT RECORDED AN INCOME TAX LIABILITY FOR UNCERTAIN TAX BENEFITS. AS OF MAY 31, 2024, THE UNIVERSITY'S TAX YEARS ENDED MAY 31, 2021 THROUGH 2024, GENERALLY, REMAIN SUBJECT TO EXAMINATION. 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 UNIVERSITY'S NONDISCRIMINATION POLICY IS DISCLOSED IN THE ADMISSIONS APPLICATION AND MATERIALS PROVIDED TO EACH PROSPECTIVE STUDENT, AS WELL AS IN PUBLICLY AVAILABLE STUDENT POLICIES AND PROCEDURES DOCUMENTS. Schedule E, Part I, Line 6 THE UNIVERSITY IS A PARTICIPANT IN STUDENT FINANCIAL AID PROGRAMS SUCH AS FEDERAL PELL GRANT, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT, FEDERAL MCNAIR SCHOLARS, FEDERAL WORK STUDY, TEXAS TUITION EQUALIZATION GRANT, RECEIVES FEDERAL AND STATE FUNDING FOR RESEARCH GRANTS AND CONTRACTS. 1 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium INVESTMENTS 2716419 Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, INVESTMENTS 181021723 Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, PROGRAM SERVICES ATHLETIC TRAVEL 33716 East Asia and the Pacific PROGRAM SERVICES ATHLETIC TRAVEL 175 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium PROGRAM SERVICES ATHLETIC TRAVEL 10810 North America PROGRAM SERVICES ATHLETIC TRAVEL 1844 South America PROGRAM SERVICES ATHLETIC TRAVEL 415 East Asia and the Pacific PROGRAM SERVICES DUES/MEMBERSHIPS/SUBSCRIPTIONS 1053 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium PROGRAM SERVICES DUES/MEMBERSHIPS/SUBSCRIPTIONS 12462 MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES DUES/MEMBERSHIPS/SUBSCRIPTIONS 510 North America PROGRAM SERVICES DUES/MEMBERSHIPS/SUBSCRIPTIONS 2415 SOUTH ASIA PROGRAM SERVICES DUES/MEMBERSHIPS/SUBSCRIPTIONS 1500 Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, PROGRAM SERVICES MISSION TRIPS 20417 East Asia and the Pacific PROGRAM SERVICES MISSION TRIPS 4678 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium PROGRAM SERVICES MISSION TRIPS 32362 MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES MISSION TRIPS 199 NORTH AMERICA PROGRAM SERVICES MISSION TRIPS 344 SOUTH AMERICA PROGRAM SERVICES MISSION TRIPS 8622 SUB-SAHARAN AFRICA PROGRAM SERVICES MISSION TRIPS 40361 Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, PROGRAM SERVICES RESEARCH 10786 East Asia and the Pacific PROGRAM SERVICES RESEARCH 16858 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium PROGRAM SERVICES RESEARCH 89737 MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES RESEARCH 2705 NORTH AMERICA PROGRAM SERVICES RESEARCH 2937 SOUTH AMERICA PROGRAM SERVICES RESEARCH 47666 SUB-SAHARAN AFRICA PROGRAM SERVICES RESEARCH 25681 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium PROGRAM SERVICES SITE VISITS 16521 NORTH AMERICA PROGRAM SERVICES SITE VISITS 1040 Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, PROGRAM SERVICES STUDENT RECRUITMENT 10303 East Asia and the Pacific PROGRAM SERVICES STUDENT RECRUITMENT 23054 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium PROGRAM SERVICES STUDENT RECRUITMENT 22450 MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES STUDENT RECRUITMENT 13428 NORTH AMERICA PROGRAM SERVICES STUDENT RECRUITMENT 11777 RUSSIA AND NEIGHBORING STATES PROGRAM SERVICES STUDENT RECRUITMENT 656 SOUTH AMERICA PROGRAM SERVICES STUDENT RECRUITMENT 7751 SOUTH ASIA PROGRAM SERVICES STUDENT RECRUITMENT 4526 SUB-SAHARAN AFRICA PROGRAM SERVICES STUDENT RECRUITMENT 5425 Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, PROGRAM SERVICES STUDY ABROAD 10792 East Asia and the Pacific PROGRAM SERVICES STUDY ABROAD 43028 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium PROGRAM SERVICES STUDY ABROAD 344879 MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES STUDY ABROAD 216 NORTH AMERICA PROGRAM SERVICES STUDY ABROAD 5 SOUTH AMERICA PROGRAM SERVICES STUDY ABROAD 21220 SUB-SAHARAN AFRICA PROGRAM SERVICES STUDY ABROAD 26780 Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, PROGRAM SERVICES PROGRAM AND CONFERENCE TRAVEL/TRAININGS/PAPER PRESENTATION 55393 East Asia and the Pacific PROGRAM SERVICES PROGRAM AND CONFERENCE TRAVEL/TRAININGS/PAPER PRESENTATION 111288 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium PROGRAM SERVICES PROGRAM AND CONFERENCE TRAVEL/TRAININGS/PAPER PRESENTATION 440776 MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES PROGRAM AND CONFERENCE TRAVEL/TRAININGS/PAPER PRESENTATION 17039 NORTH AMERICA PROGRAM SERVICES PROGRAM AND CONFERENCE TRAVEL/TRAININGS/PAPER PRESENTATION 90675 RUSSIA AND NEIGHBORING STATES PROGRAM SERVICES PROGRAM AND CONFERENCE TRAVEL/TRAININGS/PAPER PRESENTATION 1231 SOUTH AMERICA PROGRAM SERVICES PROGRAM AND CONFERENCE TRAVEL/TRAININGS/PAPER PRESENTATION 17922 SOUTH ASIA PROGRAM SERVICES PROGRAM AND CONFERENCE TRAVEL/TRAININGS/PAPER PRESENTATION 6094 SUB-SAHARAN AFRICA PROGRAM SERVICES PROGRAM AND CONFERENCE TRAVEL/TRAININGS/PAPER PRESENTATION 9247 Central America and the Caribbean - Antigua & Barbuda, Aruba, Bahamas, PROGRAM SERVICES PROGRAM MATERIALS 62 East Asia and the Pacific PROGRAM SERVICES PROGRAM MATERIALS 10458 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium PROGRAM SERVICES PROGRAM MATERIALS 14494 NORTH AMERICA PROGRAM SERVICES PROGRAM MATERIALS 3745 0 0 0 0 0 0 183786155 1662515 185448670 North America - Canada and Mexico, but not the United States RESEARCH 40670 0 Sub-Saharan Africa RESEARCH 128610 0 Sub-Saharan Africa RESEARCH 141981 0 Sub-Saharan Africa RESEARCH 38500 0 Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgium RESEARCH 149742 0 Sub-Saharan Africa RESEARCH 164835 0 6 1 0 1 1 1 0 SCHEDULE F, PART I, LINE 2 THE UNIVERSITY ENTERS INTO A SUBAWARD AGREEMENT WITH THE GRANT RECIPIENT THAT DESCRIBES THE RECIPIENT'S RESPONSIBILITIES FOR THE USE OF THE GRANT FUNDS. UNDER THE TERMS OF THE SUBAWARD AGREEMENT, THE RECIPIENT IS USUALLY REQUIRED TO SUBMIT QUARTERLY AND FINAL WRITTEN PROGRESS REPORTS TO THE PRINCIPAL INVESTIGATOR ("PI") OR PROJECT DIRECTOR FOR THE GRANT, AND FUNDS ARE NORMALLY PAID TO THE RECIPIENT ON A COST REIMBURSABLE BASIS. WHEN THE GRANT RECIPIENT SUBMITS AN INVOICE FOR REIMBURSEMENT, THE PI IS RESPONSIBLE FOR REVIEWING THE INVOICE TO ENSURE THE EXPENDITURES ARE CONSISTENT WITH THE ESTABLISHED BUDGET AND WITH THE WORK COMPLETED TO DATE, PRIOR TO APPROVING THE AMOUNT FOR PAYMENT. GRANT RECIPIENTS SUBJECT TO THE U.S. OFFICE OF MANAGEMENT AND BUDGET UNIFORM GRANT GUIDANCE ARE ALSO REQUIRED TO PROVIDE CERTIFICATION OF THEIR COMPLIANCE WITH THE FINANCIAL AUDIT REQUIREMENTS OF THOSE GUIDELINES PRIOR TO RECEIVING FUNDS. THEREAFTER, THE UNIVERSITY REQUESTS AN ANNUAL CERTIFICATION OF CONTINUING COMPLIANCE AND A COPY OF THEIR MOST RECENT AUDIT REPORT. IF ANY OF THE ABOVE PROCESSES INDICATE AN AREA OF CONCERN, SITE VISITS MAY BE CONDUCTED BY THE UNIVERSITY TO REVIEW THE PROGRAMMATIC AND/OR FINANCIAL RECORDS. IN SOME SITUATIONS, THE UNIVERSITY WILL PROVIDE AN ADVANCEMENT OF FUNDS TO GRANT RECIPIENT. THE GRANT RECIPIENT THEN SUBMITS A MONTHLY EXPENSE PACKET TO THE PI WHICH THE OFFICE OF THE VICE PROVOST FOR RESEARCH REVIEWS FOR REASONABLENESS AND RECOGNIZES THE MONTH'S EXPENSE ACTIVITY ACCORDINGLY. ADDITIONALLY, THE UNIVERSITY CONTRACTED WITH AN OUTSIDE ACCOUNTING FIRM TO CONDUCT A REVIEW OF FOREIGN EXPENSES INCURRED UNDER THE GRANT. SCHEDULE F, PART I, LINE 3 CENTRAL AMERICA AND THE CARIBBEAN -ACCRUAL EAST ASIA AND THE PACIFIC -ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND) -ACCRUAL MIDDLE EAST AND NORTH AFRICA -ACCRUAL NORTH AMERICA (CANADA & MEXICO ONLY) -ACCRUAL RUSSIA AND NEIGHBORING STATES -ACCRUAL SOUTH AMERICA -ACCRUAL SOUTH ASIA -ACCRUAL SUB-SAHARAN AFRICA -ACCRUAL SCHEDULE F, PART II, LINE 1 EAST ASIA AND THE PACIFIC -ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND) -ACCRUAL SOUTH ASIA -ACCRUAL SUB-SAHARAN AFRICA -ACCRUAL X X X X X X X 1 RUFFALO NOEL LEVITZ 65 KIRKWOOD N RD SW PO BOX 3018 CEDAR RAPIDS IA 52406 (SEE STATEMENT) 0 1193785 368347 825438 1193785 368347 825438 AL AK AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY ORANAMENT FUNDRAISER 148676 74538 74138 88164 PARENT FUND T-SHIRT FUNDRAISER 76959 76959 101772 3 97114 57655 39459 93372 322749 209152 113597 283308 283308 -169711 SCHEDULE G, PART I, LINE 2B(II) MULTICHANNEL FUNDRAISING SERVICES SCHEDULE G, PART I, LINE 2B(V) BAYLOR DID NOT ENTER INTO ANY ARRANGEMENTS IN WHICH PAYMENTS WERE MADE EXCLUSIVELY FOR FUNDRAISING EXPENSES. 1 Washington University in St Louis 660 South Euclid St Louis MO 63110 430653611 501(C)3 52843 0 SUBCONTRACT-RESEARCH Texas State University 601 University Dr JCK 420 San Marcos TX 78666 746002248 STATE OF TEXAS 28224 0 SUBCONTRACT-RESEARCH University of Texas SW Medical Center PO Box 841765 Dallas TX 75284 756002868 STATE OF TEXAS 14307 0 SUBCONTRACT-RESEARCH Boston University 881 Commonwealth Boston MA 02215 042103547 501(C)3 10694 0 SUBCONTRACT-RESEARCH Michigan Technological University 1400 Townsend Drive Houghton MI 49931 386005955 STATE OF MICHIGAN 79506 0 SUBCONTRACT-RESEARCH University of California Riverside 245 University Office Building Riverside CA 92521 956006142 STATE OF CALIFORNIA 51623 0 SUBCONTRACT-RESEARCH University of Houston PO Box 988 Houston TX 77001 746001399 STATE OF TEXAS 70463 0 SUBCONTRACT-RESEARCH University of Texas At Austin PO Box 7159 Austin TX 78713 746000203 STATE OF TEXAS 7166 0 SUBCONTRACT-RESEARCH University of Texas At Austin 3925 W Braker Ln Suite 3340 Austin TX 78759 746000203 STATE OF TEXAS 79785 0 SUBCONTRACT-RESEARCH Wayne State University 5057 Woodward Avenue Suite13001 - 13th Floor Detroit MI 48202 386028429 STATE OF MICHIGAN 17605 0 SUBCONTRACT-RESEARCH Center for Open Science 210 Ridge McIntire Rd Suite 500 Charlottesville VA 22903 461496217 501(C)3 333284 0 SUBCONTRACT-RESEARCH Gallup Inc PO Box 310284 Des Moines IA 50331 210699771 2450127 0 SUBCONTRACT-RESEARCH Baylor Scott & White Research Institute 1950 N Stemmons Fwy Ste 5010 Dallas TX 75207 751921898 501(C)3 11098 0 SUBCONTRACT-RESEARCH Board of Regents Nevada System of Higher Education UNLV 4505 S Maryland Parkway Las Vegas NV 89154 886000024 STATE OF NEVADA 7198 0 SUBCONTRACT-RESEARCH Texas A&M Sponsored Research Services 400 Harvey Mitchell Parkway S Suite 300 College Station TX 77845 741974733 STATE OF TEXAS 321216 0 SUBCONTRACT-RESEARCH UTSA 6900 N Loop 1604 West San Antonio TX 78249 741717115 STATE OF TEXAS 421589 0 SUBCONTRACT-RESEARCH Texas A&M Sponsored Research Services 400 Harvey Mitchell Parkway S Suite 300 College Station TX 77845 741974733 STATE OF TEXAS 84575 0 SUBCONTRACT-RESEARCH UTSA 6900 N Loop 1604 West San Antonio TX 78249 741717115 STATE OF TEXAS 44112 0 SUBCONTRACT-RESEARCH Anselm House 1337 Cleveland Ave N St Paul MN 55108 411428036 501(C)3 17255 0 SUBCONTRACT-RESEARCH Chesterton House Inc 115 The Knoll Ithaca NY 14850 161600224 501(C)3 11500 0 SUBCONTRACT-RESEARCH Collegium Institute PO Box 30730 Philadelphia PA 19104 463047945 501(C)3 11500 0 SUBCONTRACT-RESEARCH Consortium of Christian Study Centers 485 Hillsdale Dr Suite 112 Charlottesville VA 22901 263864831 501(C)3 11500 0 SUBCONTRACT-RESEARCH Hope College 141 E 12 St Holland MI 49423 381381271 501(C)3 72500 0 SUBCONTRACT-RESEARCH Loyola Marymount University One LMU Drive Los Angeles CA 90045 951643334 501(C)3 24908 0 SUBCONTRACT-RESEARCH Lumen Christi Institute 1220 E 58th St Chicago IL 60637 364191992 501(C)3 23000 0 SUBCONTRACT-RESEARCH North Carolina Study Center 203 Battle Ln Chapel Hill NC 27154 465216355 501(C)3 11500 0 SUBCONTRACT-RESEARCH University of Notre Dame 1124 Flanner Hall Notre Dame IN 46556 350868188 501(C)3 25815 0 SUBCONTRACT-RESEARCH Wheaton College 501 College Ave Wheaton IL 60187 362182171 501(C)3 120974 0 SUBCONTRACT-RESEARCH Lousiana State University 240 Thomas Boyd Hall Baton Rouge LA 70803 726000848 STATE OF LOUISIANA 21245 0 SUBCONTRACT-RESEARCH Trustees Univ of Pennsylvania 3451 Walnut Street 5th floor Franklin Building Philadelphia PA 19104 231352685 STATE OF PENNSYLVANI 60341 0 SUBCONTRACT-RESEARCH Washington University in St Louis 680 South Euclid St Louis MO 63110 430653611 501(C)3 52478 0 SUBCONTRACT-RESEARCH University Enterprises Corp at CSUSB 5500 University Parkway SH-134K San Bernardino CA 92407 956067343 501(C)3 40698 0 SUBCONTRACT-RESEARCH University of Washington 101 Graves Building Box 354070 Seattle WA 98195 916001537 STATE OF WASHINGTON 74932 0 SUBCONTRACT-RESEARCH University of California Davis AR LockboxPO Box 741816 Los Angeles CA 90074 946036494 STATE OF CALIFORNIA 6892 0 SUBCONTRACT-RESEARCH University of California Davis AR LockboxPO Box 741816 Los Angeles CA 90074 946036494 STATE OF CALIFORNIA 13097 0 SUBCONTRACT-RESEARCH Georgia Tech Research Corp 926 Dalney Street NW Atlanta GA 30318 580603146 501(C)3 89236 0 SUBCONTRACT-RESEARCH Trustees Univ of Pennsylvania 3451 Walnut Street 5th floor Franklin Building Philadelphia PA 19104 231352685 STATE OF PENNSYLVANI 44053 0 SUBCONTRACT-RESEARCH Hampton University 200 William R Harvey Way Hampton VA 23668 540505990 501(C)3 107003 0 SUBCONTRACT-RESEARCH Abilene Christian University ACU Box 29120 Abilene TX 79699 750851900 501(C)3 31500 0 SUBCONTRACT-RESEARCH Auburn University 540 Devall Drive Suite 200 Auburn AL 36832 636000724 STATE OF ALABAMA 16442 0 SUBCONTRACT-RESEARCH Cornell University 341 Pine Tree Road Ithaca NY 14850 150532082 501(C)3 31500 0 SUBCONTRACT-RESEARCH Fordham University 441 East Fordham Road Bronx NY 10458 131740451 501(C)3 20564 0 SUBCONTRACT-RESEARCH Hope College 141 E 12 St Holland MI 49423 381381271 501(C)3 39385 0 SUBCONTRACT-RESEARCH The Trustees of Columbia University in the City of New York PO Box 29789 New York NY 10087 135598093 501(C)3 15750 0 SUBCONTRACT-RESEARCH University of North Florida 1 UNF Drive Jacksonville FL 32224 592976169 STATE OF FLORIDA 14551 0 SUBCONTRACT-RESEARCH University of Maryland College Park 1700 E Cold Spring Ln Baltimore MD 21251 526002033 STATE OF MARYLAND 14959 0 SUBCONTRACT-RESEARCH The Howard University 2244 10th St NW Ste 300 Washington DC 20059 530204707 501(C)3 42751 0 SUBCONTRACT-RESEARCH Hawaii Pacific University 500 Ala Moana Blvd Suite 6420 Honolulu HI 96813 990113930 501(C)3 62354 0 SUBCONTRACT-RESEARCH The Queens Medical Center 1301 Punchbowl St Honolulu HI 96813 990073524 501(C)3 68647 0 SUBCONTRACT-RESEARCH McLennan Community College 1400 College Drive Waco TX 76708 741541260 STATE OF TEXAS 20733 0 SUBCONTRACT-PUBLIC SERVICE Southern Methodist University 3140 Dyer St Dallas TX 75275 750800689 501(C)3 44330 0 SUBCONTRACT-RESEARCH University of California Riverside 245 University Office Building Riverside CA 92521 956006142 STATE OF CALIFORNIA 57666 0 SUBCONTRACT-RESEARCH Wake Forest University 1834 Wake Forest Rd Winston Salem NC 27109 560532138 501(C)3 55640 0 SUBCONTRACT-RESEARCH Brigham Young University 370B JSB Provo UT 84602 870217280 501(C)3 12547 0 SUBCONTRACT-RESEARCH Calvin University 3201 Burton St SE Grand Rapids MI 49546 383071514 501(C)3 33107 0 SUBCONTRACT-RESEARCH Seton Hall University 400 South Orange Avenue South Orange NJ 07079 221500645 501(C)3 12898 0 SUBCONTRACT-RESEARCH University of Houston 4500 University Dr Houston TX 77204 746001399 STATE OF TEXAS 13935 0 SUBCONTRACT-RESEARCH University of St Thomas (Minnesota) 2115 Summit Avenue Saint Paul MN 55105 410693970 501(C)3 18148 0 SUBCONTRACT-RESEARCH Wake Forest University 1834 Wake Forest Rd Winston Salem NC 27109 560532138 501(C)3 22426 0 SUBCONTRACT-RESEARCH Baylor Scott & White Research Institute 3310 Live Oak Dallas TX 75204 751921898 501(C)3 9710 0 SUBCONTRACT-RESEARCH University of Texas At Austin 3925 W Braker Ln Suite 3340 Austin TX 78759 746000203 STATE OF TEXAS 158207 0 SUBCONTRACT-RESEARCH Colorado State University 2002 Campus Delivery Fort Collins CO 80523 846000545 STATE OF COLORADO 121120 0 SUBCONTRACT-RESEARCH University of Houston 4500 University Dr Houston TX 77204 746001399 STATE OF TEXAS 6335 0 SUBCONTRACT-RESEARCH University of North Carolina at Pembroke One University Drive Pembroke NC 28372 566000805 STATE OF NORTH CAROL 5280 0 SUBCONTRACT-PUBLIC SERVICE Texas A&M Engineering Experiment Station 3124 TAMU College Station TX 77843 741974733 STATE OF TEXAS 49374 0 SUBCONTRACT-RESEARCH Haverford College 370 Lancaster Ave Haverford PA 19041 236002304 501(C)3 49044 0 SUBCONTRACT-RESEARCH University of South Carolina 1600 Hampton St 6th Floor Columbia SC 29208 576001153 STATE OF SOUTH CAROL 43750 0 SUBCONTRACT-RESEARCH Texas A&M University - Corpus Christi 6300 Ocean Drive Corpus Christi TX 78412 741760663 STATE OF TEXAS 53684 0 SUBCONTRACT-RESEARCH Duke University 110 Whitford Dr PO Box 90555 Durham NC 27708 560532129 501(C)3 48561 0 SUBCONTRACT-RESEARCH Georgia Tech Research Corp 926 Dalney Street NW Atlanta GA 30318 580603146 501(C)3 66360 0 SUBCONTRACT-RESEARCH New York Institute of Technology NYIT Office of Sponsored Research Tower House Room 206A Old Westbury NY 11568 111788788 501(C)3 59374 0 SUBCONTRACT-RESEARCH Purdue University 24025 Network Place Chicago IL 60673 356002041 STATE OF ILLINOIS 82340 0 SUBCONTRACT-RESEARCH Rochester Institute of Technology 141 Lomb Memorial Drive Rochester NY 14623 160743140 501(C)3 47756 0 SUBCONTRACT-RESEARCH Temple University 1801 N Broad St Philadelphia PA 19122 231365971 501(C)3 31963 0 SUBCONTRACT-RESEARCH University of Houston 4500 University Dr Houston TX 77204 746001399 STATE OF TEXAS 21241 0 SUBCONTRACT-RESEARCH University of Oklahoma (Norman) 201 Stephenson Pkwy Ste 3400 Norman OK 73019 736017987 STATE OF OKLAHOMA 73149 0 SUBCONTRACT-RESEARCH University of Toledo 2801 W Bancroft St - MS 218 Toledo OH 43606 346401483 STATE OF OHIO 35741 0 SUBCONTRACT-RESEARCH Virginia Tech 185 Beamer Way Lane Stadium 122 Blacksburg VA 24061 546001805 STATE OF VIRGINIA 293821 0 SUBCONTRACT-RESEARCH Vanderbilt University 110 21st Avenue Nashville TN 37203 620476822 501(C)3 51458 0 SUBCONTRACT-RESEARCH Northeastern University 360 Huntington Ave 540-177 Boston MA 02115 041679980 501(C)3 24043 0 SUBCONTRACT-RESEARCH University of Minnesota 200 Oak Street SE Minneapolis MN 55485 416007513 STATE OF MINNESOTA 32854 0 SUBCONTRACT-RESEARCH Purdue University 24025 Network Place Chicago IL 60673 356002041 501(C)3 46557 0 SUBCONTRACT-RESEARCH University of South Carolina 1600 Hampton St 6th Floor Columbia SC 29208 576001153 STATE OF SOUTH CAROL 30950 0 SUBCONTRACT-RESEARCH Virginia Tech 185 Beamer Way Lane Stadium 122 Blacksburg VA 24061 546001805 STATE OF VIRGINIA 7556 0 SUBCONTRACT-RESEARCH Penn State University 308 Old Main University Park PA 16802 246000376 STATE OF PENNSYLVANI 38898 0 SUBCONTRACT-RESEARCH Waco Entrepreneurial Ecosystem Collaborative Inc 605 Austin Ave Waco TX 76701 822094253 501(C)3 550000 0 Grant to Support Non-Profit Organization Activites Waco Chamber Of Commerce PO BOX 1220 Waco TX 76703 740967440 501(C)3 67050 0 Grant to Support Non-Profit Organization Activites Waco Family Medicine 1600 Providence Dr Waco TX 76707 742446071 501(C)3 50000 0 Grant to Support Non-Profit Organization Activites Greater Waco Sports Commission 101 S 3rd Street Waco TX 76701 475033658 501(C)3 10000 0 Event Sponsorship Texas Intercollegiate Press Association 101 Baldwin Blvd Corpus Christi TX 78404 202121596 501(C)3 10000 0 Event Sponsorship YTexas 320 Forza Viola Way Austin TX 78738 463544284 10000 0 Event Sponsorship Fuzzy Friends Rescue PO Box 2028 Waco TX 76703 752699210 501(C)3 9500 0 Event Sponsorship Creative Waco PO BOX 1104 Waco TX 76703 473755745 501(C)3 6000 0 Grant to Support Non-Profit Organization Activites Brazos Valley Public Broadcasting ONE BEAR PLACE 97296 WACO TX 76798 742674611 501(C)3 159101 0 PROGRAMMING AND PRODUCTION COST ASSISTANCE COLORADO STATE UNIVERSITY 2002 CAMPUS DELIVERY FORT COLLINS CO 80523 846000545 STATE OF COLORADO 57829 0 SUBCONTRACT-RESEARCH NORTHEASTERN UNIVERSITY 360 HUNTINGTON AVE 540-177 BOSTON MA 02115 041679980 501(C)3 19626 0 SUBCONTRACT-RESEARCH HARVARD UNIVERSITY 6 APPIAN WAY CAMBRIDGE MA 02138 042103580 501(C)3 561109 0 SUBCONTRACT-RESEARCH 84 2 SCHOLARSHIP AND FELLOWSHIPS 17704 430229665 RESEARCH GRANTS 27 286433 STUDENT AWARDS 5197 2451898 146124 FMV (SEE STATEMENT) OTHER DOMESTIC AWARDS 3901 54922 67198 FMV (SEE STATEMENT) SCHEDULE I, PART I, LINE 2 GRANTS AND OTHER ASSISTANCE TO INDIVIDUALS IN THE UNITED STATES: SCHOLARSHIPS AND FELLOWSHIPS THAT ARE AWARDED TO STUDENTS ARE PAID THROUGH THE STUDENTS' ACCOUNTS, AND/OR ACCOUNTS PAYABLE OFFICE AND ARE ADMINISTERED BASED UPON MERIT AND/OR NEED. BAYLOR'S FINANCIAL AID OFFICE REVIEWS THE STUDENTS' CUMULATIVE GRADE POINT AVERAGES EVERY YEAR AND AWARDS/REVIEWS ACADEMIC SCHOLARSHIPS AND FELLOWSHIPS IF THE REQUIRED GRADE POINT AVERAGE LEVEL IS SATISFIED. SCHOLARSHIPS FOR FINANCIAL NEED ARE AWARDED ANNUALLY BASED UPON THE NEED CRITERION/LEVEL ESTABLISHED OR MAINTAINED PER THE COMPLETED APPLICATION FOR FEDERAL STUDENT AID. THE SCHOLARSHIP AWARDS THAT ARE INCLUDED IN THE COST OF ATTENDANCE ARE REVIEWED SO AS NOT TO EXCEED THE COST OF A STUDENT TO ATTEND THE UNIVERSITY. SCHOLARSHIPS AND/OR FELLOWSHIPS ARE ALSO AWARDED TO COVER STUDENT EMERGENCY SITUATIONS. STUDENTS MUST COMPLETE AN APPLICATION DESCRIBING THE EMERGENCY SITUATION. THE UNIVERSITY REVIEWS EACH APPLICATION TO DETERMINE IF SUCH SCHOLARSHIPS/FELLOWSHIPS WILL BE AWARDED. TRAVEL GRANTS - TRAVEL GRANTS ARE AWARDED TO STUDENTS TO OFFSET TRAVEL EXPENSES USED FOR EDUCATIONAL PURPOSES SUCH AS ATTENDING A CONFERENCE, PRESENTING A PAPER, ETC. THE AWARDING OF TRAVEL GRANTS IS BASED UPON AN APPLICATION PROCESS AND MEETING A SET OF CRITERIA THAT ESTABLISH THE BENEFITS TO THE STUDENTS' EDUCATIONAL ENDEAVORS. RESEARCH GRANTS - THE OFFICE OF THE VICE PROVOST FOR RESEARCH (OVPR) PUBLISHES GUIDELINES FOR EACH OF THE INTERNAL GRANT PROGRAMS THAT PROVIDE THE GENERAL CONDITIONS OF THE AWARD, AS WELL AS GUIDANCE ON THE EXPENSES THAT MAY BE CHARGED TO THE AWARD. EACH GRANT IS SET UP AS A SEPARATE PROJECT IN THE UNIVERSITY'S FINANCIAL SYSTEM BASED ON THE AWARD AMOUNT AND BUDGET CATEGORIES APPROVED BY THE OVPR. THE FINANCIAL SYSTEM PROVIDES REAL TIME ACCESS TO A BUDGET SUMMARY REPORT FOR THE PROJECT THAT PROVIDES A COMPARISON OF BUDGETED EXPENDITURES TO CUMULATIVE ACTUAL EXPENDITURES BY EXPENDITURE CATEGORY. THIS REPORT CAN BE ACCESSED BY THE PROJECT MANAGER AND OTHERS WITH ADMINISTRATIVE AND FINANCIAL OVERSIGHT RESPONSIBILITIES. EXPENDITURE TRANSACTIONS UNDER INTERNAL GRANT PROGRAMS ARE SUBJECT TO INTERNAL CONTROLS FOR APPROVAL AND PROCESSING SIMILAR TO OTHER UNIVERSITY EXPENDITURE TRANSACTIONS. THE SYSTEM DOES NOT ALLOW EXPENDITURES TO BE PROCESSED IN EXCESS OF OR OUTSIDE OF THE APPROVED BUDGET CATEGORIES. STUDENT AWARDS - THESE AWARDS ARE PROVIDED TO STUDENTS FOR WINNING EDUCATIONAL COMPETITIONS. THE PURPOSE OF THE COMPETITIONS IS TO FURTHER THE EDUCATION OF STUDENTS. GRANTS AND OTHER ASSISTANCE TO GOVERNMENTS AND ORGANIZATIONS IN THE UNITED STATES - THE UNIVERSITY ENTERS INTO A CONTRACT WITH THE GRANT RECIPIENT THAT DESCRIBES THE RECIPIENT'S RESPONSIBILITIES FOR THE USE OF THE GRANT FUNDS. UNDER THE TERMS OF THE CONTRACT, RECIPIENTS ARE REQUIRED TO SUBMIT QUARTERLY AND FINAL WRITTEN PROGRESS REPORTS TO THE PRINCIPAL INVESTIGATOR ("PI") OR PROJECT DIRECTOR FOR THE GRANT, AND FUNDS ARE PAID TO THE RECIPIENT ON A COST REIMBURSABLE BASIS. WHEN THE GRANT RECIPIENT SUBMITS AN INVOICE FOR REIMBURSEMENT, THE PI REVIEWS THE INVOICE TO ENSURE THE EXPENDITURES ARE CONSISTENT WITH THE ESTABLISHED BUDGET AND WITH THE WORK COMPLETED TO DATE, PRIOR TO APPROVING THE AMOUNT FOR PAYMENT. GRANT RECIPIENTS SUBJECT TO THE UNIFORM GUIDANCE (2 CFR PART 200) AUDITS OF STATES, LOCAL GOVERNMENTS, AND NON-PROFIT ORGANIZATIONS ARE ALSO REQUIRED TO PROVIDE CERTIFICATION OF THEIR COMPLIANCE WITH THE FINANCIAL AUDIT REQUIREMENTS OF THOSE GUIDELINES PRIOR TO RECEIVING FUNDS. THEREAFTER, THE UNIVERSITY REQUIRES AN ANNUAL CERTIFICATION OF CONTINUING COMPLIANCE AND A COPY OF THEIR MOST RECENT AUDIT REPORT. IF ANY OF THE ABOVE PROCESSES INDICATE AN AREA OF CONCERN, SITE VISITS MAY BE CONDUCTED BY THE UNIVERSITY TO REVIEW THE PROGRAMMATIC AND/OR FINANCIAL RECORDS. CHARITABLE ORGANIZATIONS THAT RECEIVE CONTRIBUTIONS FROM THE UNIVERSITY ARE CAREFULLY SELECTED AND MUST BE APPROVED THROUGH THE CHIEF OF STAFF TO THE PRESIDENT & VICE PRESIDENT FOR BOARD RELATIONS. STUDENT ORGANIZATIONS THAT ARE PROVIDED UNIVERSITY GRANTS MUST COMPLETE AN APPLICATION DESCRIBING THE NEED FOR THE GRANT. UNIVERSITY CONTRIBUTIONS MUST SUPPORT THE UNIVERSITY'S INTEREST AND BE CONSISTENT WITH THE UNIVERSITY'S CORE VALUES. SCHEDULE I, PART II, COLUMN F STUDENT AWARDS: BOOKS, ON-CAMPUS ROOM AND BOARD, AND OTHER STUDENT EXPENSES SUCH AS CLOTHING, TRANSPORTATION, ETC. X X X X X X 0 1 X X X X X X 0 1 0 0 0 0 0 1 1 0 SCOTT DREW HEAD MEN'S BASKETBALL COAC 6267456 0 376500 0 64841 0 37260 0 90295 0 6836352 0 0 0 DAVE ARANDA FOOTBALL HEAD COACH 3777064 0 383937 0 138626 0 237260 0 22750 0 4559637 0 0 0 MACK RHOADES VP & DIRECTOR OF ATHLETICS 2731031 0 336094 0 69648 0 437260 0 26324 0 3600357 0 0 0 LINDA LIVINGSTONE PRESIDENT 1306025 0 416094 0 856905 0 337260 0 117039 0 3033323 0 0 0 NICKI COLLEN HEAD WOMEN'S BASKETBALL CO 1064221 0 280275 0 44021 0 37260 0 81959 0 1507736 0 0 0 DAVID MOREHEAD CHIEF INVESTMENT OFFICER 514162 0 735797 0 0 0 37260 0 26437 0 1313656 0 0 0 JACOB SPAVITAL FOOTBALL OFFENSIVE COORDINATOR 942659 0 5000 0 51620 0 37260 0 23905 0 1060444 0 0 0 RENEE HANNA MANAGING DIR OF INVESTMENTS 396740 0 467328 0 0 0 37260 0 16827 0 918155 0 0 0 NANCY BRICKHOUSE VICE PRESIDENT AND PROVOST 588210 0 88384 0 22119 0 100896 0 676 0 800285 0 0 0 CHRIS HOLMES GENERAL COUNSEL & CHIEF LE 502029 0 78428 0 20222 0 92682 0 59927 0 753288 0 0 0 JASON COOK VP FOR MKT & COMM & CMO 425538 0 64668 0 15282 0 85821 0 90789 0 682098 0 0 0 JASON DIFFENDERFER VP FOR UNIVERSITY ADVANCEM 414649 0 50000 0 49690 0 37260 0 21475 0 573074 0 0 0 CURTIS REYNOLDS VP OF BUSINESS & FINANCE & 431210 0 50000 0 38092 0 37260 0 7876 0 564438 0 0 0 GARY CARINI VICE PROVOST 373575 0 14000 0 25662 0 37260 0 55434 0 505931 0 0 0 ROBYN DRISKELL VP & CHIEF COMPLIANCE OFFICER 321130 0 46997 0 522 0 70471 0 61371 0 500491 0 0 0 CHERYL GOCHIS VP AND CHIEF HR OFFICER 335005 0 50499 0 522 0 72946 0 22576 0 481548 0 0 0 TOBY BARNETT ASSOC VP OF ENGAGEMENT 267742 0 26500 0 14295 0 33178 0 123161 0 464876 0 0 0 SUSAN ANZ SR ASSOC VP OF FIN & TREAS 329115 0 0 0 522 0 37087 0 91789 0 458513 0 0 0 KEVIN JACKSON VICE PRESIDENT FOR STUDENT 288810 0 41154 0 24530 0 37260 0 26360 0 418114 0 0 0 LEE NORDT DEAN OF ARTS & SCIENCES 323031 0 0 0 762 0 35747 0 19152 0 378692 0 0 0 TIFFANY HOGUE CHIEF OF STAFF TO THE PRES 257219 0 36223 0 282 0 59843 0 1529 0 355096 0 0 0 KRISTY J ORR BOARD PROFESSIONAL 234707 0 35060 0 90 0 54437 0 11022 0 335316 0 0 0 DAVE CLENDENNEN ASST VP FOR FIN SYS & ASST 161995 0 0 0 20400 0 20912 0 22220 0 225527 0 0 0 BRETT POWELL ASSOC VP OF FINANCE (THRU 07/2024) 172730 0 2149 0 0 0 19229 0 10553 0 204661 0 0 0 ANDREW ARTERBURY REGENT 123213 0 0 0 0 0 18005 0 55933 0 197151 0 0 0 SCHEDULE J, PART 1, LINE 1A-FIRST CLASS OR CHARTER TRAVEL FOUR OFFICERS TRAVELED VIA CHARTER FLIGHTS TO ENGAGE IN VARIOUS BUSINESS ACTIVITIES SUCH AS DONOR CULTIVATION ACTIVITIES, MEDIA EVENTS AND RECRUITMENT. CHARTER FLIGHTS WERE USED BY THREE HIGHLY COMPENSATED EMPLOYEES TO ENGAGE IN VARIOUS BUSINESS ACTIVITIES SUCH AS STUDENT ATHLETIC RECRUITING, AND ATTENDANCE OF MEDIA EVENTS. FIRST-CLASS TRIPS ARE DISALLOWED BY UNIVERSITY POLICY UNLESS APPROVED AS AN EXCEPTION TO POLICY. NO FIRST-CLASS TRAVEL WAS APPROVED DURING THE TAX YEAR. SCHEDULE J, PART 1, LINE 1A-TRAVEL FOR COMPANIONS OCCASIONALLY, FAMILY MEMBERS OR GUESTS OF LISTED PERSONS WERE PROVIDED TRAVEL. THE UNIVERSITY POLICY AND PRACTICE IS TO REVIEW TRAVEL ACTIVITIES THAT OCCUR THROUGHOUT THE YEAR AND REPORT THE VALUE OF SUCH TRAVEL AS TAXABLE COMPENSATION TO LISTED PERSONS IF NO BONA FIDE BUSINESS PURPOSE EXISTED OR THE FIFTY PERCENT SEATING CAPACITY RULE IS INAPPLICABLE FOR THE COMPANION TRAVEL. SCHEDULE J, PART 1, LINE 1A-TAX INDEMNIFICATION AND GROSS-UP PAYMENTS MEN'S HEAD BASKETBALL COACH, HEAD FOOTBALL COACH AND VICE PRESIDENT & DIRECTOR OF ATHLETICS HAD PERSONAL TRAVEL STIPENDS GROSSED-UP TO PROVIDE CONTRACTUAL AMOUNTS OWED BY THE UNIVERSITY. WOMEN'S HEAD BASKETBALL COACH RECEIVED GROSS-UP PAYMENTS COVERING THE ADDITIONAL TAXES OWED ON SUPPLEMENTAL PAYMENTS FOR CHILD'S TUITION COSTS. HEAD FOOTBALL COACH WAS PROVIDED A SUITE AND THE VALUE OF THE SUITE WAS GROSSED-UP TO COVER THE TAXES OWED FOR PERSONAL USAGE. ALL ABOVE DESCRIBED PAYMENTS WERE REPORTED AS TAXABLE INCOME, INCLUDING THE TAX ON THE GROSS-UP PAYMENTS. ADDITIONALLY, THE UNIVERSITY MAY OCCASIONALLY GROSS-UP OTHER PAYMENTS, BUT ALL SUCH PAYMENTS ARE INCLUDED IN THE TAXABLE INCOME OF THE APPLICABLE EMPLOYEE. SCHEDULE J, PART 1, LINE 1A-HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE BAYLOR, IN SOME INSTANCES, PROVIDES TEMPORARY HOUSING TO EMPLOYEES DURING THEIR TRANSITION TO BEGINNING WORK AT THE UNIVERSITY. THIS TEMPORARY HOUSING IS REPORTED AS TAXABLE INCOME. BAYLOR PROVIDED PRESIDENT WITH A HOUSE LOCATED ON CAMPUS AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE UNIVERSITY. THE PROVISION OF THE HOUSE WAS NOT INCLUDED AS TAXABLE COMPENSATION. SCHEDULE J, PART 1, LINE 1A-HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES THREE OFFICERS AND TWO HIGHLY COMPENSATED EMPLOYEES WERE PROVIDED COUNTRY OR SOCIAL CLUB MEMBERSHIPS IN ONE OR MORE LOCAL CLUBS. ALL CLUB MEMBERSHIPS WERE REPORTED AS TAXABLE COMPENSATION. SCHEDULE J, PART 1, LINE 1A-PERSONAL SERVICES BAYLOR PROVIDED HOUSEKEEPING SERVICES FOR THE UNIVERSITY HOUSE WHERE THE PRESIDENT RESIDES. THE PORTION OF THE HOUSEKEEPING EXPENSES USED FOR PERSONAL PURPOSES WAS INCLUDED AS TAXABLE INCOME. SCHEDULE J, PART 1, LINE 1B THE UNIVERSITY HAS A WRITTEN POLICY FOR THE FOLLOWING BENEFITS: FIRST-CLASS TRAVEL AND CHARTER TRAVEL, AND TRAVEL FOR COMPANIONS. THE BAYLOR AIRCRAFT POLICY IS ONLY APPLICABLE TO BAYLOR-PROVIDED CHARTER TRAVEL. OTHER CHARTER TRAVEL USED BY THE ATHLETIC DEPARTMENT FOR TEAM TRAVEL IS BASED UPON THE NEED OF THE SPORT. CLUB MEMBERSHIPS ARE REPORTED AS TAXABLE INCOME. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS ARE INCLUDED IN CONTRACTUAL ARRANGEMENTS AND/OR REQUIRE BOARD OF REGENTS APPROVAL. THE PRESIDENT'S HOUSING WAS PROVIDED AS A CONDITION OF EMPLOYMENT PER THE TERMS OF CONTRACT, AND THE HOUSE WAS PROVIDED FOR THE CONVENIENCE OF THE UNIVERSITY. HOUSEKEEPING SERVICES ARE HANDLED AS NOTED ABOVE. SCHEDULE J, PART 1, LINE 4B BAYLOR UNIVERSITY PRESIDENT PARTICIPATED IN A NONQUALIFIED DEFERRED COMPENSATION ARRANGEMENT UNDER INTERNAL REVENUE CODE SECTION 457(F) AND RECEIVED AN ACCRUED BENEFIT OF $300,000 DURING 2024. AN ADDITIONAL AMOUNT SHALL BE ACCRUED NEXT YEAR. THE ACCRUED DEFERRED COMPENSATION AMOUNTS SHALL VEST AND BE PAYABLE BEGINNING MAY 31, 2027 THROUGH MAY 31, 2030, OR IF EARLIER, UPON TERMINATION WITHOUT CAUSE, DEATH OR DISABILITY. PRESIDENT WILL NOT HAVE RIGHT TO THE FUNDS IF SHE VOLUNTARILY RESIGNS OR IS TERMINATED FOR CAUSE. BAYLOR UNIVERSITY VICE PRESIDENT & DIRECTOR OF ATHLETICS PARTICIPATED IN A NONQUALIFIED DEFERRED COMPENSATION ARRANGEMENT UNDER INTERNAL REVENUE CODE SECTION 457(F) AND RECEIVED AN ACCRUED BENEFIT OF $400,000 DURING 2024. AN ADDITIONAL AMOUNT SHALL BE ACCRUED NEXT YEAR. THE ACCRUED DEFERRED COMPENSATION AMOUNTS SHALL VEST AND BE PAYABLE ON SEPTEMBER 30TH, 2027, OR IF EARLIER, UPON TERMINATION WITHOUT CAUSE, DEATH OR DISABILITY. VICE PRESIDENT & DIRECTOR OF ATHLETICS WILL NOT HAVE RIGHT TO THE FUNDS IF HE VOLUNTARILY RESIGNS OR IS TERMINATED FOR CAUSE. THE VICE PRESIDENT & DIRECTOR OF ATHLETICS IS A PARTICIPANT IN A SPLIT-DOLLAR INSURANCE PLAN. THE UNIVERSITY MADE PREMIUM LOAN PAYMENTS ON THE POLICIES OVER THE LAST FIVE YEARS. THERE WERE NO PREMIUM LOAN AMOUNTS PAID IN CALENDAR YEAR 2024. THE VICE PRESIDENT & DIRECTOR OF ATHLETICS IS THE OWNER OF THE POLICIES UTILIZED IN THE ARRANGEMENT, AND THE UNIVERSITY SHALL RECEIVE REPAYMENT OF ALL PREMIUM LOANS, INCLUDING INTEREST, IN ACCORDANCE WITH THE PLAN DOCUMENTS. THE PREMIUMS ARE TREATED FOR TAX PURPOSES AS NONRECOURSE SPLIT-DOLLAR LOANS UNDER 26 CFR 1.7872-15. PAYMENT OF THE AMOUNT DUE THE UNIVERSITY (LENDER) UNDER THE AGREEMENT IS, OR COULD BE CONSIDERED, NONRECOURSE TO THE BORROWER. NOTWITHSTANDING THAT FACT, THE LENDER AND BORROWER REPRESENT THAT A REASONABLE PERSON WOULD EXPECT THAT ALL PAYMENTS DUE THE LENDER UNDER THE AGREEMENT WILL BE MADE. BAYLOR UNIVERSITY FOOTBALL HEAD COACH PARTICIPATED IN A NONQUALIFIED DEFERRED COMPENSATION ARRANGEMENT UNDER INTERNAL REVENUE CODE SECTION 457(F) AND RECEIVED AN ACCRUED BENEFIT OF $400,000 DURING 2024. AN ADDITIONAL AMOUNT SHALL BE ACCRUED NEXT YEAR. THE ACCRUED DEFERRED COMPENSATION AMOUNTS SHALL VEST AND BE PAYABLE BEGINNING MARCH 31, 2026 THROUGH MARCH 31, 2029, OR IF EARLIER, UPON TERMINATION WITHOUT CAUSE, DEATH, OR DISABILITY. FOOTBALL HEAD COACH WILL NOT HAVE RIGHT TO THE FUNDS IF HE VOLUNTARILY RESIGNS OR IS TERMINATED FOR CAUSE. BAYLOR UNIVERSITY VICE PRESIDENT AND CHIEF HUMAN RESOURCE OFFICER PARTICIPATED IN A NONQUALIFIED DEFERRED COMPENSATION ARRANGEMENT UNDER INTERNAL REVENUE CODE SECTION 457(F) AND RECEIVED AN ACCRUED BENEFIT OF $35,686 DURING 2024. AN ADDITIONAL AMOUNT SHALL BE ACCRUED NEXT YEAR. THE ACCRUED DEFERRED COMPENSATION AMOUNTS SHALL VEST AND BE PAYABLE ON JULY 31, 2027, OR IF EARLIER, UPON TERMINATION WITHOUT CAUSE, DEATH, OR DISABILITY. VICE PRESIDENT AND CHIEF HUMAN RESOURCE OFFICER WILL NOT HAVE RIGHT TO THE FUNDS IF SHE VOLUNTARILY RESIGNS OR IS TERMINATED FOR CAUSE. BAYLOR UNIVERSITY GENERAL COUNSEL AND CHIEF LEGAL OFFICER AND CORPORATE SECRETARY PARTICIPATED IN A NONQUALIFIED DEFERRED COMPENSATION ARRANGEMENT UNDER INTERNAL REVENUE CODE SECTION 457(F) AND RECEIVED AN ACCRUED BENEFIT OF $55,422 DURING 2024. AN ADDITIONAL AMOUNT SHALL BE ACCRUED NEXT YEAR. THE ACCRUED DEFERRED COMPENSATION AMOUNTS SHALL VEST AND BE PAYABLE ON JULY 31, 2027, OR IF EARLIER, UPON TERMINATION WITHOUT CAUSE, DEATH, OR DISABILITY. GENERAL COUNSEL AND CHIEF LEGAL OFFICER AND CORPORATE SECRETARY WILL NOT HAVE RIGHT TO THE FUNDS IF HE VOLUNTARILY RESIGNS OR IS TERMINATED FOR CAUSE. BAYLOR UNIVERSITY VICE PRESIENT FOR MARKETING AND COMMUNICATIONS AND CHIEF MARKETING OFFICER PARTICIPATED IN A NONQUALIFIED DEFERRED COMPENSATION ARRANGEMENT UNDER INTERNAL REVENUE CODE SECTION 457(F) AND RECEIVED AN ACCRUED BENEFIT OF $48,561 DURING 2024. AN ADDITIONAL AMOUNT SHALL BE ACCRUED NEXT YEAR. THE ACCRUED DEFERRED COMPENSATION AMOUNTS SHALL VEST AND BE PAYABLE ON JULY 31, 2027, OR IF EARLIER, UPON TERMINATION WITHOUT CAUSE, DEATH, OR DISABILITY. VICE PRESIENT FOR MARKETING AND COMMUNICATIONS AND CHIEF MARKETING OFFICER WILL NOT HAVE RIGHT TO THE FUNDS IF HE VOLUNTARILY RESIGNS OR IS TERMINATED FOR CAUSE. BAYLOR UNIVERSITY BOARD PROFESSIONAL PARTICIPATED IN A NONQUALIFIED DEFERRED COMPENSATION ARRANGEMENT UNDER INTERNAL REVENUE CODE SECTION 457(F) AND RECEIVED AN ACCRUED BENEFIT OF $24,776 DURING 2024. AN ADDITIONAL AMOUNT SHALL BE ACCRUED NEXT YEAR. THE ACCRUED DEFERRED COMPENSATION AMOUNTS SHALL VEST AND BE PAYABLE ON JULY 31, 2028, OR IF EARLIER, UPON TERMINATION WITHOUT CAUSE, DEATH, OR DISABILITY. BOARD PROFESSIONAL WILL NOT HAVE RIGHT TO THE FUNDS IF SHE VOLUNTARILY RESIGNS OR IS TERMINATED FOR CAUSE. BAYLOR UNIVERSITY PROVOST PARTICIPATED IN A NONQUALIFIED DEFERRED COMPENSATION ARRANGEMENT UNDER INTERNAL REVENUE CODE SECTION 457(F) AND RECEIVED AN ACCRUED BENEFIT OF $63,636 DURING 2024. AN ADDITIONAL AMOUNT SHALL BE ACCRUED NEXT YEAR. THE ACCRUED DEFERRED COMPENSATION AMOUNTS SHALL VEST AND BE PAYABLE ON JULY 31, 2028, OR IF EARLIER, UPON TERMINATION WITHOUT CAUSE, DEATH, OR DISABILITY. PROVOST WILL NOT HAVE RIGHT TO THE FUNDS IF SHE VOLUNTARILY RESIGNS OR IS TERMINATED FOR CAUSE. BAYLOR UNIVERSITY VICE PRESIDENT AND CHIEF COMPLIANCE AND RISK OFFICER PARTICIPATED IN A NONQUALIFIED DEFERRED COMPENSATION ARRANGEMENT UNDER INTERNAL REVENUE CODE SECTION 457(F) AND RECEIVED AN ACCRUED BENEFIT OF $33,211 DURING 2024. AN ADDITIONAL AMOUNT SHALL BE ACCRUED NEXT YEAR. THE ACCRUED DEFERRED COMPENSATION AMOUNTS SHALL VEST AND BE PAYABLE ON JULY 31, 2027, OR IF EARLIER, UPON TERMINATION WITHOUT CAUSE, DEATH, OR DISABILITY. VICE PRESIDENT AND CHIEF COMPLIANCE AND RISK OFFICER WILL NOT HAVE RIGHT TO THE FUNDS IF SHE VOLUNTARILY RESIGNS OR IS TERMINATED FOR CAUSE. BAYLOR UNIVERSITY CHIEF OF STAFF TO THE PRESIDENT PARTICIPATED IN A NONQUALIFIED DEFERRED COMPENSATION ARRANGEMENT UNDER INTERNAL REVENUE CODE SECTION 457(F) AND RECEIVED AN ACCRUED BENEFIT OF $28,081 DURING 2024. AN ADDITIONAL AMOUNT SHALL BE ACCRUED NEXT YEAR. THE ACCRUED DEFERRED COMPENSATION AMOUNTS SHALL VEST AND BE PAYABLE ON JULY 31, 2028, OR IF EARLIER, UPON TERMINATION WITHOUT CAUSE, DEATH, OR DISABILITY. CHIEF OF STAFF TO THE PRESIDENT WILL NOT HAVE RIGHT TO THE FUNDS IF SHE VOLUNTARILY RESIGNS OR IS TERMINATED FOR CAUSE. SCHEDULE J, PART 1, LINE 7 CHIEF INVESTMENT OFFICER RECEIVED A BONUS CALCULATED USING A PORTION OF BASE PAY AND APPLYING A PERCENTAGE BASED UPON QUALITATIVE ASSESSMENT OF PERFORMANCE PLUS A PERCENTAGE PER THE BENCH-MARKED PERFORMANCE OF BAYLOR'S POOLED INVESTMENT, THE BAYLOR UNIVERSITY FUND. VICE PRESIDENT FOR ADVANCEMENT RECEIVED A BONUS EQUAL TO A PERCENTAGE OF BASE PAY BASED UPON SURPASSING PRODUCTIVITY BENCHMARKS. HIGHLY COMPENSATED COACHES MAY RECEIVE CHAMPIONSHIP RINGS AND/OR GIFT CARDS, WHICH ARE REPORTED AS TAXABLE INCOME. INCENTIVE PAYMENTS TO OFFICERS AND HIGHLY COMPENSATED EMPLOYEES INCLUDE DISCRETIONARY PAYMENTS EARNED THROUGH COMPLETION OF CONDITIONS IDENTIFIED IN EMPLOYMENT CONTRACTS. SCHEDULE J, PART 1, LINE 8 VICE PRESIDENT AND PROVOST, VICE PRESIDENT FOR ADVANCEMENT AND VICE PRESIDENT OF BUSINESS AND FINANCE ARE ALL PART OF THEIR INITIAL EMPLOYMENT CONTRACT. THE TERMS OF THE CONTRACTS WERE NEGOTIATED AT AN ARM'S LENGTH AND THESE OFFICERS WERE NOT A DISQUALIFIED PERSONS IMMEDIATELY PRIOR TO ENTERING INTO THE INITIAL CONTRACT. A WACO EDUCATION FINANCE CORPORATION 020603383 929833CV1 2021-07-08 149355559 SEE PART VI 0 0 0 B WACO EDUCATION FINANCE CORPORATION 020603383 929833BM2 2020-08-20 50142183 REFUND ISSUE DATED: 05/30/2017 0 0 0 C WACO EDUCATION FINANCE CORPORATION 020603383 929833DP3 2025-05-25 87715209 VARIOUS CAPITAL IMPROVEMENTS 0 0 0 A 7565000 153959456 811360 153148096 2024 0 0 1 1 B 50142183 228991 49913192 1 0 1 1 C 87715209 536373 32298138 54880698 0 0 0 1 A 0 1 0 0 0 0 1 B 0 0 1 1 1 1 0 0 1 C 0 0 0 0 0 0 1 A 1 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 C 0 1 0 0 1 0 0 0 1 A 1 B 1 C 1 PART I BOND A COLUMN (F) THE PURPOSE OF THE ISSUE IS (i) FINANCE AND REFINANCE THE COSTS OF CERTAIN BUILDINGS, EQUIPMENT, FACILITIES AND OTHER IMPROVEMENTS BENEFITTING BAYLOR, INCLUDING ALL OR A PORTION OF THE COSTS RELATING TO THE CONSTRUCTION AND EQUIPPING OF THE MARK AND PAULA HURD WELCOME CENTER AND THE RENOVATION AND EQUIPPING OF THE COLLINS, MEMORIAL AND ALEXANDER RESIDENCE HALLS. PART 1, LINE 13, COLUMN B IT IS THE UNDERSTANDING OF THE UNIVERSITY THE YEAR OF SUBSTANTIAL COMPLETION RELATES TO NON-REFUNDING PROCEEDS, AND THE 2020 ISSUE WAS A REFINANCING ISSUE ONLY. THE REFUNDING WAS COMPLETED IN 2020. PART II, LINE 3, COLUMN A THE TOTAL PROCEEDS EXCEEDS THE ISSUE PRICE DUE TO INVESTMENT EARNINGS ON THE PROJECT FUND. PART II, LINE 11, COLUMN B THE OTHER SPENT PROCEEDS ARE THE REFUNDING PROCEEDS OF THE ISSUE THAT ARE NO LONGER IN ESCROW. PART III, COLUMN A&B, LINE 6 THE BOND FINANCED PROPERTY WHICH HAS PRIVATE BUSINESS USE ALSO HAS QUALIFIED EQUITY WHICH EXCEEDS THE AMOUNT OF ANY PRIVATE BUSINESS USE GENERATED, SO THE RESULTING PERCENTAGE IS 0. PART V BAYLOR HAS PROCEDURES THAT IT FOLLOWS FOR TAX-EXEMPT BONDS TO ENSURE COMPLIANCE WITH APPLICABLE FEDERAL REGULATIONS AND TO IDENTIFY ANY POTENTIAL VIOLATIONS OF FEDERAL TAX REQUIREMENTS. BAYLOR'S PROCEDURES HAVE BEEN IN PLACE SINCE THE ISSUANCE OF THE BONDS AND ARE PERIODICALLY REVIEWED AND UPDATED. MACK RHOADES IV OFFICER SEE PART V X 1200000 1322662 0 1 1 1322662 NOT REQUIRED NOT REQUIRED 83225 ACADEMIC SCHP NOT REQUIRED NOT REQUIRED 12508 NEED-BASED SCHP NOT REQUIRED NOT REQUIRED 7742 GRAD TA STEVEN CATES BROTHER-IN-LAW OF CHERYL GOCHIS 117671 EMPLOYMENT 0 ANDREW CHARBINE SON-IN-LAW OF OFFICER MACK RHOADES 131411 EMPLOYMENT 0 CARMEN BENTE DAUGHTER OF REGENT RENE MACIEL 62785 EMPLOYMENT 0 WILL DRISKELL SPOUSE OF OFFICER ROBYN DRISKELL 140831 EMPLOYMENT 0 RICH GOCHIS SPOUSE OF OFFICER CHERYL GOCHIS 144625 EMPLOYMENT 0 ANDREW HOGUE SPOUSE OF OFFICER TIFFANY HOGUE 171842 EMPLOYMENT 0 SCOTT MCALLISTER SPOUSE OF REGENT LESLEY MCALLISTER 122805 EMPLOYMENT 0 KARIANN PERRY FAMILY MEMBER OF OFFICER TAYLOR J. PERRY 11303 EMPLOYMENT 0 SHELBY LIVINGSTONE DAUGHTER OF OFFICER LINDA LIVINGSTONE 29556 EMPLOYMENT 0 ELIZABETH CROWDER DAUGHTER OF OFFICER SUSAN ANZ 20000 EMPLOYMENT 0 BRIAN CROWDER SON-IN-LAW OF OFFICER SUSAN ANZ 24452 EMPLOYMENT 0 SCHEDULE L, PART I, LINE 1, COLUMN (C) - PART I BAYLOR UNIVERSITY PROVIDES SUPPLEMENTAL RETIREMENT BENEFITS THROUGH AN ALTERNATIVE FUNDING ARRANGEMENT THE IRS CALLS "COLLATERAL ASSIGNMENT SPLIT DOLLAR" (CASD). ALTHOUGH THE IRS REQUIRES REPORTING IN THE LOAN SECTION OF SCHEDULE L, CASD IS NOT A LOAN BECAUSE NO FUNDS ARE TRANSFERRED TO THE EXECUTIVE. RATHER THE "LOAN" TREATMENT APPLIES BECAUSE AFTER THE EXECUTIVE HAS RECEIVED THE RETIREMENT BENEFITS, THE UNIVERSITY RECOVERS ALL ITS OUTLAYS PLUS INTEREST.THE RECOVERY RIGHT IS A KEY ADVANTAGE OF CASD FOR THE UNIVERSITY. RATHER THAN PAYING RETIREMENT BENEFITS TO THE EXECUTIVE THAT WOULD NEVER BE RECOVERED, UNDER THE CASD, THE UNIVERSITY RECOVERS NOT ONLY ITS OUTLAYS BUT ALSO CONSIDERATION FOR THE TIME VALUE OF MONEY.CASD WORKS AS FOLLOWS. BAYLOR UNIVERSITY DEPOSITS FUNDS INTO CASH VALUE LIFE INSURANCE POLICIES ON THE EXECUTIVE'S LIFE. DURING LIFE, TO THE EXTENT THE EXECUTIVE FULFILLS SERVICE AND VESTING REQUIREMENTS, THE EXECUTIVE CAN BORROW AGAINST THE CASH SURRENDER VALUE TO SUPPLEMENT RETIREMENT INCOME. POLICY PERFORMANCE IS CLOSELY MONITORED. IF POLICY PERFORMANCE LAGS, THE EXECUTIVE'S BORROWING RIGHTS ARE REDUCED TO PROTECT THE UNIVERSITY'S RECOVERY RIGHTS.AT THE EXECUTIVE'S DEATH, THE POLICY DEATH PROCEEDS ARE FIRST USED TO REPAY BAYLOR UNIVERSITY'S DEPOSITS PLUS COMPOUNDED INTEREST (AT THE IRS LONG-TERM APPLICABLE FEDERAL RATE). THE EXECUTIVE'S BENEFICIARY THEN RECEIVES ANY PROJECTED RETIREMENT BORROWING THE EXECUTIVE DID NOT ACCESS DURING LIFE. SCHEDULE L, PART IV - PART IV ALL BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS WERE ENTERED INTO ON AN ARM'S LENGTH BASIS WITH THE INTERESTED PARTY HAVING NO INVOLVEMENT IN OR INFLUENCE OVER THE TRANSACTION. X 115 6132384 AVG OF HIGH AND LOW MKT X 1 150000 MARKET VALUE X 1 43561 MARKET VALUE X VEHICLE LEASE 1 378000 MARKET VALUE X EQUIPMENT 3 267202 MARKET VALUE X HORSES 3 220000 OPINONS OF EXPERTS X LIFE INSURANCE 2 213681 CASH VALUE X PIANOS 2 53450 MARKET VALUE X GIFT CARDS 2 20000 INVOICES/RECEIPTS X EVENTS 6 7795 MARKET VALUE X MISCELLANEOUS ITEMS 3 4138 MARKET VALUE 4 0 1 1 SCHEDULE M, PART I, LINE 1 - COLUMN (B) NUMBER OF CONTRIBUTIONS OR ITEMS CO BAYLOR REPORTED THE RECEIPT OF THESE NONCASH CONTRIBUTIONS BASED ON THE NUMBER OF CONTRIBUTIONS WHICH AT TIMES ALSO EQUALS THE NUMBER OF ITEMS RECEIVED. SCHEDULE M, PART I, LINE 32B - THIRD PARTIES USED TO SOLICIT FOR STOCK GIFTS, THIRD PARTY BROKERS ARE USED TO TRADE THE STOCK AND BROKERS HAVE A STANDING ORDER TO SELL STOCK IMMEDIATELY UPON RECEIPT. SUCH ARRANGEMENTS ARE BASED ON VARYING CENTS-PER-SHARE. THE MAJORITY OF TRADES ARE EXECUTED BY A "MARKET ORDER." SCHEDULE M, PART I, LINE 33 - EXPLANATION OF REVENUES NOT REPORTED SOME ITEMS INCLUDED IN SCHEDULE M WERE VALUED AT $1.00. THE DONOR DID NOT PROVIDE THE UNIVERSITY WITH AN APPRAISAL AND THE UNIVERSITY DID NOT HAVE OTHER KNOWLEDGE OF THE VALUATION OF THESE ITEMS. FOR THIS REASON, THE UNIVERSITY DID NOT SHOW REVENUE FOR THESE DONATIONS OTHER THAN $1.00 WHICH REPRESENTS RECEIPT OF THE ITEMS. Form 990, Part VI, Section A, line 1a THE EXECUTIVE COMMITTEE CONSISTED OF THE CHAIR, VICE CHAIRS, THE CHAIRS FROM AMONG THE BOARD'S STANDING COMMITTEES, THE EMERITI CHAIR (SUBJECT TO THE REQUIREMENT CONTAINED IN BOARD POLICY) AND, IF STILL SERVING AS A MEMBER OF THE BOARD, THE IMMEDIATE PAST CHAIR OF THE BOARD. THE PRESIDENT ALSO SERVED AS A NON-VOTING MEMBER OF THE EXECUTIVE COMMITTEE. THE BOARD CHAIR ALSO SERVED AS THE CHAIR OF THE EXECUTIVE COMMITTEE. THIS COMMITTEE HAD FULL AUTHORITY OF THE BOARD TO ACT ON CORPORATE ISSUES BETWEEN MEETINGS WITH THE EXCEPTION OF THE FOLLOWING MATTERS, WHICH MATTERS ARE SPECIFICALLY RESERVED FOR THE BOARD: (1) ANY ACTION REGARDING BAYLOR'S MISSION, VISION OR STRATEGIC PLANS; (2) AMENDMENT OF THE CERTIFICATE OF FORMATION, BYLAWS OR BOARD GUIDELINES; (3) CONFERRAL OF DEGREES; (4) SELECTION, EVALUATION, OR TERMINATION OF THE PRESIDENT; (5) TERMINATION OF A VICE PRESIDENT OR MEMBER OF THE PRESIDENT'S EXECUTIVE COUNCIL; (6) ELECTION OF BAYLOR UNIVERSITY REGENTS AND BOARD OFFICERS; (7) REMOVAL OF A REGENT; (8) ELECTION OF REGENTS TO AFFILIATED ORGANIZATIONS; (9) ANY ACTION INCREASING OR DECREASING THE UNIVERSITY'S ANNUAL BUDGET; (10) ANY ACTION USING BAYLOR CREDIT; (11) DETERMINATION OF REASONABLENESS OF SALARIES, OTHER COMPENSATION AND BENEFITS OF DISQUALIFIED OR HIGHLY COMPENSATED PERSONS; (12) ANY MATTER IN WHICH ANY VOTING OR EX OFFICIO MEMBER OF THE EXECUTIVE COMMITTEE ASKS TO BE CONSIDERED BY THE BOARD; (13) CAPITAL PROJECTS EXCEEDING $5 MILLION, AND REAL PROPERTY TRANSACTIONS. Form 990, Part VI, Section A, line 2 TODD PATTERSON AND CAREY HENDRICKSON HAVE A BUSINESS RELATIONSHIP TODD PATTERSON AND KYLE DEAVER HAVE A BUSINESS RELATIONSHIP Form 990, Part VI, Section A, line 7a THE BAPTIST GENERAL CONVENTION OF TEXAS, A NONPROFIT TEXAS CORPORATION, HAS THE AUTHORITY TO ELECT UP TO 25% OF THE MEMBERS OF BAYLOR UNIVERSITY'S BOARD OF REGENTS. Form 990, Part VI, Section A, line 7b BAYLOR UNIVERSITY'S BOARD OF REGENTS MAY BE REQUIRED TO OBTAIN APPROVAL FROM THE BAPTIST GENERAL CONVENTION OF TEXAS REGARDING CERTAIN CHANGES TO ITS GOVERNING DOCUMENTS WHICH ADDRESS BOARD COMPOSITION. Form 990, Part VI, Section B, line 11b THE RETURN WAS REVIEWED BY THE UNIVERSITY'S OUTSIDE TAX ACCOUNTANTS. ADDITIONALLY, A COPY OF THE FORM 990 WAS DISTRIBUTED TO ALL REGENTS AND A REVIEW OF THE FORM 990 WAS PERFORMED BY THE REGENT AUDIT COMMITTEE. SENIOR ADMINISTRATION INCLUDING THE PRESIDENT, VICE PRESIDENT OF BUSINESS AND FINANCE AND CHIEF FINANCIAL OFFICER, ASSOC. VICE PRESIDENT OF FINANCE & TREASURER, GENERAL COUNSEL & CHIEF LEGAL OFFICER AND CORPORATE SECRETARY, CHIEF OF STAFF TO THE PRESIDENT, AND CHIEF AUDIT OFFICER PARTICIPATED IN THE REVIEW AND DISCUSSION REGARDING THE FORM 990 AND ATTACHED SCHEDULES WITH THE REGENT AUDIT COMMITTEE. ALL BOARD MEMBERS WERE INVITED TO PARTICIPATE IN THE AUDIT COMMITTEE MEETING. A FINAL COPY OF THE RETURN WAS PROVIDED TO ALL REGENTS PRIOR TO THE FILING OF THE FORM 990. FORM 990, PART VI, LINE 12A- BAYLOR UNIVERSITY'S POLICIES DETAILED IN LINES 12-15 DO NOT DIRECTLY APPLY TO ITS DISREGARDED ENTITIES. Form 990, Part VI, Section B, line 12c BAYLOR UNIVERSITY MAINTAINS THREE SEPARATE CONFLICT OF INTEREST POLICIES APPLICABLE TO THE FOLLOWING GROUPS: (1) BOARD OF REGENTS; (2) ALL FULL-TIME FACULTY AND STAFF, AND SOME PART-TIME EMPLOYEES AS DEEMED NECESSARY; (3) ALL PERSONNEL RESPONSIBLE FOR THE DESIGN, CONDUCT, OR REPORTING OF RESEARCH. EACH GROUP IS REQUIRED TO COMPLETE AN ANNUAL CONFLICT OF INTEREST DISCLOSURE FORM. REGENTS: INTERNAL AUDIT (IA) REVIEWS ALL COMPLETED REGENT CONFLICT DISCLOSURE FORMS AND CONSULTS WITH THE PRESIDENT, CHIEF BUSINESS OFFICER, GENERAL COUNSEL & CHIEF LEGAL OFFICER, AND OTHER UNIVERSITY ADMINISTRATORS, IF NECESSARY. THE CHIEF AUDIT OFFICER PRESENTS THE RESULTS OF THE REVIEW TO THE BOARD OF REGENTS AUDIT, COMPLIANCE & RISK MANAGEMENT (ACRM) COMMITTEE. A REGENT IS NOT ALLOWED TO BE INVOLVED IN DISCUSSIONS, NOR VOTE ON RELATED MATTERS, SHOULD A CONFLICT OF INTEREST EXIST. CONFLICTS OF INTEREST OF A SEVERE NATURE INVOLVING A REGENT ARE ADDRESSED VIA THE APPROPRIATE BAYLOR UNIVERSITY BOARD OF REGENTS BYLAWS WITH THE ACTION(S) BEING DETERMINED BY THE BOARD THAT COULD INCLUDE REMOVAL OF THAT REGENT AS A MEMBER OF THE BOARD OF REGENTS. FULL-TIME FACULTY AND STAFF, AND SOME PART-TIME EMPLOYEES AS DEEMED NECESSARY: IA INITIALLY REVIEWS ALL COMPLETED OUTSIDE ACTIVITES AND INTERESTS DISCLOSURES. IF AN ACTUAL OR PERCEIVED CONFLICT EXISTS, THE DISCLOSURE IS REVIEWED BY THE OUTSIDE ACTIVITIES AND INTERESTS COMMITTEE (OAIC). THE OAIC MEMBERSHIP INCLUDES INTERNAL AUDIT, RESEARCH COMPLIANCE, HUMAN RESOURCES, UNIVERSITY COMPLIANCE, VICE PROVOST FOR FACULTY AFFAIRS, FACULTY APPOINTEE FROM THE COLLEGE OF ARTS AND SCIENCES, FACULTY APPOINTEE FROM THE HANKAMER SCHOOL OF BUSINESS, FACULTY APPOINTEE FROM ROBBINS COLLEGE OF HEALTH AND HUMAN SCIENCES, ONE FACULTY MEMBER APPOINTED BY THE PROVOST, AND ONE FACULTY MEMBER APPOINTED BY THE FACULTY SENATE. THE OAIC SHALL TAKE SUCH ACTION AS REASONABLY MAY BE NECESSARY TO ELIMINATE ANY ACTUAL OR PERCEIVED CONFLICTS OF INTEREST OR OTHERWISE SAFEGUARD THE INTERESTS OF THE UNIVERSITY THROUGH A MANAGEMENT PLAN. THE CHIEF AUDIT OFFICER ANNUALLY REPORTS TO THE PRESIDENT THE NUMBER OF EMPLOYEES WHO HAVE REPORTED ACTUAL OR PERCEIVED CONFLICTS AND THE NATURE OF THE CONFLICTS ALONG WITH RECOMMENDED PLANS TO RESOLVE THEM. THE CHIEF AUDIT OFFICER ALSO PRESENTS THE RESULTS OF THE REVIEW TO THE BOARD OF REGENTS ACRM COMMITTEE. EMPLOYEES ARE RESTRICTED FROM PARTICIPATING IN THE DECISION-MAKING PROCESS FOR THOSE TRANSACTIONS THAT INVOLVE THE ACQUISITION OF GOODS OR SERVICES SHOULD A CONFLICT OF INTEREST EXIST. EMPLOYEES WHO DELIBERATELY OR REPEATEDLY FAIL TO DISCLOSE FULLY AND TRUTHFULLY OR FAIL TO COMPLY WITH ANY STIPULATED MANAGEMENT PLAN FOR MANAGING THE DISCLOSED CONFLICTS WILL BE SUBJECT TO THE APPLICABLE UNIVERSITY DISCIPLINARY PROCESSES. PERSONNEL RESPONSIBLE FOR THE DESIGN, CONDUCT, OR REPORTING OF RESEARCH: THE OFFICE OF THE VICE PROVOST FOR RESEARCH (OVPR) REVIEWS ALL COMPLETED RESEARCH CONFLICT OF INTEREST DISCLOSURES. IF AN ACTUAL OR PERCEIVED CONFLICT EXIST, THE STATEMENT WILL BE REVIEWED BY THE OAIC. THE OAIC SHALL TAKE SUCH ACTION AS REASONABLY NECESSARY TO ELIMINATE ANY ACTUAL OR PERCEIVED CONFLICT OF INTEREST OR OTHERWISE SAFEGUARD THE INTERESTS OF THE UNIVERSITY THROUGH A MANAGEMENT PLAN. OVPR NOTIFIES GRANTING AGENCIES OF RESEARCH CONFLICTS OF INTEREST THAT ARISE AS REQUIRED AS WELL AS ANY ASSOCIATED MANAGEMENT PLANS. FORM 990, PART VI, LINE 15A BAYLOR'S PROCEDURES AND PRACTICES IN SUPPORT OF THE BOARD OF REGENTS GUIDELINES FOR BOARD OPERATIONS ENSURE THAT COMPENSATION ARRANGEMENTS FOR THE PRESIDENT MUST BE APPROVED BY THE BOARD IN ORDER TO GO INTO EFFECT. A REGENT SUBCOMMITTEE CONDUCTS THE PRESIDENT ASSESSMENT PROCESS AND OBTAINS AND REVIEWS APPROPRIATE COMPARABLE COMPENSATION DATA ANNUALLY AND AS NEEDED IN ORDER TO REVIEW AND APPROVE COMPENSATION ARRANGEMENTS. THE COMPARABILITY DATA COMES FROM A VARIETY OF SOURCES WHICH INCLUDES QUALIFIED, INDEPENDENT OUTSIDE COMPENSATION CONSULTANTS SELECTED BY THE BOARD OF REGENTS, SURVEYS CONDUCTED BY OUTSIDE CONSULTANTS THAT INCLUDES SALARIES AND/OR BENEFITS DATA, FORM 990 DATA FROM OTHER INSTITUTIONS, COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION FOR HUMAN RESOURCES SURVEYS, AND WESTERN MANAGEMENT GROUP SURVEYS. THE REGENT SUBCOMMITTEE REVIEWS THE REASONABLENESS OF COMPENSATION ARRANGEMENTS AGAINST THE COMPARABILITY DATA AS WELL AS THE PERFORMANCE OF THE PRESIDENT AND DOCUMENTS THE BASIS OF THEIR DETERMINATIONS AND ACTIONS CONCURRENT WITH MAKING THE DETERMINATION. THE DOCUMENTATION INCLUDES THE TERMS OF THE TRANSACTION, THE DATE OF APPROVAL, THE NAMES OF THE REGENT SUBCOMMITTEE MEMBERS PRESENT DURING THE REVIEW AND VOTE ON THE TRANSACTION, THE COMPARABILITY DATA RELIED UPON AND THE BASIS FOR THE DETERMINATION. THE REGENT SUBCOMMITTEE SUBSEQUENTLY PRESENTS ITS RECOMMENDATIONS TO THE FULL REGENT BOARD FOR APPROVAL, WHICH IS CONCURRENTLY DOCUMENTED AS WELL. THIS PROCESS WAS PERFORMED IN 2024-2025. Form 990, Part VI, Section B, line 15 BAYLOR'S PROCEDURES AND PRACTICES ENSURE THAT COMPENSATION ARRANGEMENTS FOR OTHER OFFICERS AND KEY EMPLOYEES DEEMED TO BE DISQUALIFIED PERSONS AND/OR HIGHLY COMPENSATED MUST BE APPROVED BY THE BOARD OF REGENTS IN ORDER TO GO INTO EFFECT. A REGENT SUBCOMMITTEE OBTAINS AND REVIEWS APPROPRIATE COMPARABLE COMPENSATION DATA ANNUALLY, AND AS NEEDED, IN ORDER TO REVIEW AND APPROVE COMPENSATION ARRANGEMENTS FOR OTHER OFFICERS AND KEY EMPLOYEES DEEMED TO BE DISQUALIFIED PERSONS AND/OR HIGHLY COMPENSATED. THIS INCLUDES THE REVIEW AND APPROVAL OF THE PRESIDENT'S SALARY RECOMMENDATIONS FOR PRESIDENT'S COUNCIL MEMBERS. THE COMPARABILITY DATA IS SOURCED FROM A VARIETY OF SOURCES WHICH INCLUDES QUALIFIED, INDEPENDENT OUTSIDE COMPENSATION CONSULTANTS SELECTED BY THE BOARD OF REGENTS. COMPARABILITY DATA SOURCES CAN VARY DEPENDENT UPON THE TYPE OF POSITION BEING REVIEWED. STANDARD SOURCES OF DATA ARE FORM 990 DATA FROM OTHER INSTITUTIONS, COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION FOR HUMAN RESOURCES SURVEYS, WESTERN MANAGEMENT GROUP SURVEYS, WINTHROP ATHLETIC DATABASE, AND OTHER INDUSTRY SPECIFIC SURVEYS AS APPLICABLE. THE REGENT SUBCOMMITTEE REVIEWS THE REASONABLENESS OF COMPENSATION ARRANGEMENTS AGAINST THE COMPARABILITY DATA AND DOCUMENTS THE BASIS OF THEIR DETERMINATIONS AND ACTIONS CONCURRENT WITH MAKING THE DETERMINATION. THE DOCUMENTATION INCLUDES THE TERMS OF THE TRANSACTION, THE DATE OF APPROVAL, THE NAMES OF THE REGENT SUBCOMMITTEE MEMBERS PRESENT DURING THE REVIEW AND VOTE ON THE TRANSACTION, THE COMPARABILITY DATA RELIED UPON AND BASIS FOR THE DETERMINATION. THE REGENT SUBCOMMITTEE SUBSEQUENTLY PRESENTS ITS RECOMMENDATIONS TO THE FULL REGENT BOARD FOR APPROVAL, WHICH IS CONCURRENTLY DOCUMENTED AS WELL. THIS OCCURS ANNUALLY AND AS NEEDED. ALL OFFICERS AND KEY EMPLOYEES THAT ARE INCLUDED IN PART VII, SECTION A, WERE REVIEWED UNDER THIS PROCESS IN 2024-2025. Form 990, Part VI, Section C, line 19 BAYLOR'S CERTIFICATE OF FORMATION, BYLAWS, GUIDELINES FOR BOARD OPERATIONS, STATEMENT OF COMMITMENT AND RESPONSIBILITIES, CONFLICT OF INTEREST POLICIES, AND ANNUAL FINANCIAL STATEMENTS ARE POSTED ON BAYLOR'S WEBSITE. FORM 990, PART VII, SECTION A, LINE 1A, COLUMN B THE AVERAGE HOURS REPORTED PER WEEK FOR REGENT LESLEY MCALLISTER INCLUDES AVERAGE HOURS IN HER ROLE AS A BOARD MEMBER AND AN EMPLOYEE OF THE UNIVERSITY. FORM 990, PART VII, SECTION A, LINE 1A, COLUMN E BAYLOR TRANSMITS AN ANNUAL QUESTIONNAIRE WITH PERTINENT INSTRUCTIONS AND DEFINITIONS TO EACH OF ITS CURRENT AND FORMER REGENTS, OFFICERS, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES LISTED ON PART VII, SECTION A, INQUIRING INTO AMOUNTS OF ANY REPORTABLE COMPENSATION OR OTHER COMPENSATION RECEIVED BY THESE INDIVIDUALS FROM A RELATED ORGANIZATION. THE QUESTIONNAIRE INCLUDES THE NAME, TITLE, DATE, AND SIGNATURE OF EACH PERSON REPORTING THE INFORMATION TO BAYLOR. NO AMOUNTS WERE REPORTED FOR THE FISCAL YEAR ENDING 5/31/25. FORM 990, PART VIII, LINE 1H CONTRIBUTIONS AND GRANTS REPORTED IN THE UNIVERSITY'S AUDITED FINANCIAL STATEMENTS AND FORM 990 APPROPRIATELY EXCLUDE INTENTS TO GIVE (PLEDGES) AND REVOCABLE DEFERRED GIVING COMMITMENTS. Form 990, Part XI, line 9: PRESENT VALUE ADJUSTMENT TO ANNUITES PAYABLE 2,004,362. CHANGES IN POSTRETIREMENT BENEFIT OBLIGATIONS -1,139,604. ROUNDING -3. 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