2024-05-14T16:57:53-05:00 2023-06-30 910189318 MOSS ADAMS LLP 4747 EXECUTIVE DR SUITE 1300 SAN DIEGO CA 92121 990 2022-07-01 951644593 MARSHALL B KETCHUM UNIVERSITY MARS 7144497400 2575 YORBA LINDA BLVD FULLERTON CA 92831 FRANK J SCOTTI SR VP ADMIN & FINANCE, CFO 7144497400 2024-05-13 1 FRANK SCOTTI 999009999 1 PATRICIA J MAYER P00188643 8586271400 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DR JULIE SCHORNACK 2575 YORBA LINDA BLVD FULLERTON CA 92831 44858009 0 X WWW.KETCHUM.EDU X 1904 CA THE MISSION OF MARSHALL B. KETCHUM UNIVERSITY IS TO EDUCATE CARING, INSPIRED HEALTH CARE PROFESSIONALS WHO ARE PREPARED TO DELIVER COLLABORATIVE, PATIENT-CENTRIC HEALTHCARE IN AN INTERPROFESSIONAL ENVIRONMENT. MBKU IS HOME TO THE SOUTHERN CALIFORNIA COLLEGE OF OPTOMETRY, THE SCHOOL OF PA STUDIES, AND THE COLLEGE OF PHARMACY. THE SOUTHERN CALIFORNIA COLLEGE OF OPTOMETRY CONFERS A DOCTOR OF OPTOMETRY AND A MASTER OF SCIENCE IN VISION SCIENCE DEGREE. THE SCHOOL OF PA STUDIES AWARDS A MASTER OF MEDICAL SCIENCES DEGREE, AND THE COLLEGE OF PHARMACY AWARDS A DOCTOR OF PHARMACY DEGREE. MBKU OWNS AND OPERATES TWO HEALTHCARE CENTERS: KETCHUM HEALTH IN ANAHEIM HILLS AND THE UNIVERSITY EYE CENTER IN LOS ANGELES. 13 11 285 14 80499 70381 2723293 3293252 38403234 38283474 770917 1868179 668784 819450 42566228 44264355 434250 626197 0 0 27511873 28213905 0 0 691559 12449499 12415801 40395622 41255903 2170606 3008452 104882934 107650928 46440692 44891181 58442242 62759747 X TO EDUCATE CARING, INSPIRED HEALTH CARE PROFESSIONALS WHO ARE PREPARED TO DELIVER COLLABORATIVE, PATIENT-CENTRIC HEALTH CARE IN AN INTERPROFESSIONAL ENVIRONMENT. 0 0 22666597 626197 35160015 SEE SCHEDULE OGRADUATE EDUCATION: THE MISSION OF MARSHALL B. KETCHUM UNIVERSITY IS TO EDUCATE CARING, INSPIRED HEALTH CARE PROFESSIONALS WHO ARE PREPARED TO DELIVER COLLABORATIVE, PATIENT-CENTRIC HEALTH CARE IN AN INTERPROFESSIONAL ENVIRONMENT, AND THE CURRICULUM HAS BEEN ESTABLISHED TO ACHIEVE THIS GOAL. IN ADDITION TO THE RIGOROUS ACADEMIC AND CLINICAL CURRICULUM ON CAMPUS, ALL PROFESSIONAL STUDENTS ROTATE THROUGH SEVERAL EXTERNAL CLINICAL SITES TO BROADEN AND DIVERSIFY THEIR LEARNING EXPERIENCES TO PREPARE THEM FOR CAREERS IN HEALTH CARE. IN THE FALL OF 2022, OUR TOTAL ENROLLMENT WAS 672 FULL-TIME HEALTH PROFESSIONAL STUDENTS REPRESENTING OPTOMETRY (394), PHYSICIAN ASSISTANT (PA) (117), PHARMACY (160), MASTER OF SCIENCE IN VISION SCIENCE (1), AND OUR INTERNATIONAL PROGRAM OFFERING A MASTER OF SCIENCE IN CLINICAL OPTOMETRY (11). IN ADDITION, MBKU HAD 4 OPTOMETRY AND 10 PHARMACY PART-TIME STUDENTS. FOR THE 2022-23 ACADEMIC YEAR, WE GRADUATED 36 MEDICAL MASTER'S SCIENCE DEGREES AND PA CERTIFICATES, 47 DOCTOR OPTOMETRY DEGREES, 47 DOCTOR OF PHARMACY DEGREES, 0 MASTER OF SCIENCE IN VISION SCIENCE, AND 4 MASTER OF SCIENCE IN CLINICAL OPTOMETRY. THE ADMISSIONS PROCESS FOR FALL 2022 ENROLLMENT IS REPORTED BELOW. AT THE OUTSET OF THE APPLICATION PERIOD, THE ADMISSIONS POLICY COMMITTEES ESTABLISH STANDARDS FOR GPAS, APPLICATION TEST SCORES, IF APPLICABLE, AND ACADEMIC INDEX POINT MINIMUMS PROVIDING THRESHOLDS FOR ADMISSIONS PERSONNEL TO CAREFULLY SCREEN AND SELECT THE MOST QUALIFIED APPLICANTS TO INTERVIEW.PROGRAM: OPTOMETRY VERIFIED APPLICATIONS: 438INTERVIEWS CONDUCTED: 196 MATRICULATED CLASS: 106 PROGRAM: PA VERIFIED APPLICATIONS: 1,753 INTERVIEWS CONDUCTED: 171 MATRICULATED CLASS: 40PROGRAM: PHARMACY VERIFIED APPLICATIONS: 189 INTERVIEWS CONDUCTED: 109 MATRICULATED CLASS: 28*VERIFIED APPLICATIONS THROUGH THE CENTRALIZED APPLICATION SYSTEM (I.E., OPTOMCAS, CASPA, AND PHARMCAS). 8922323 3274482 SEE SCHEDULE OCLINICAL EDUCATION VISION/PATIENT CARE: AFFILIATED WITH THE EDUCATION PROGRAM, THE UNIVERSITY OPERATES FULL-SERVICE VISION CLINICS ON ITS ORANGE COUNTY CAMPUS AND IN DOWNTOWN LOS ANGELES, PLUS 4 LIMITED-HOUR COMMUNITY CLINICS IN ORANGE COUNTY AND LOS ANGELES, MANY LOCATED IN LOW-INCOME AREAS. THE CLINICS TOGETHER SERVED 27,857 UNIQUE ENCOUNTERS. COMPREHENSIVE VISION SERVICES INCLUDE PRIMARY EYE CARE AND SPECIALIZED PATIENT SERVICES: BASIC VISION EXAMINATION; PEDIATRIC VISION SCREENING, VISION CARE AND VISION THERAPY; OCULAR DISEASE DIAGNOSIS AND TREATMENT AND OPHTHALMOLOGY CONSULTATION; CONTACT LENSES AND PROSTHETICS FITTING; LOW VISION REHABILITATION AND EYEWEAR AND OPTICAL DISPENSING. THE VISION CLINICS PROVIDED $526,239 IN PUBLIC SUPPORT THROUGH DISCOUNTS AND FEE WAIVERS. ALSO, 1,109 PATIENTS WERE SERVED THROUGH OUR 9 SCHOOL SCREENING PROGRAMS. 948410 SEE SCHEDULE ORESEARCH: THE UNIVERSITY SUPPORTS RESEARCH WITHIN THE THREE UNIVERSITY PROGRAMS, THE COLLEGES OF OPTOMETRY AND PHARMACY AND THE SCHOOL OF PHYSICIAN ASSISTANT STUDIES. THE UNIVERSITY PROVIDES ADMINISTRATIVE, PHYSICAL AND FINANCIAL RESOURCES TO FACULTY AND STUDENTS WHO ENGAGE IN RESEARCH.THE SOUTHERN CALIFORNIA COLLEGE OF OPTOMETRY AT MBKU HAS 48 FULL-TIME FACULTY. A TOTAL OF 14 FACULTY STUDIES WERE ACTIVE DURING THE YEAR, THAT INCLUDED EXTERNALLY-FUNDED STUDIES (E.G., GRANTS FROM NIH, PROFESSIONAL ORGANIZATIONS, FOUNDATIONS AND INDUSTRY), AND SELF-FUNDED STUDIES. THE MS IN VISION SCIENCE PROGRAM HAD 10 PROJECTS ACTIVE DURING THE YEAR AND THERE WAS 1 ACTIVE STUDENT RESEARCH ELECTIVE. TOTAL EXTERNAL GRANT REVENUE FOR THE PERIOD WAS $378,711 AND THERE WERE 19 PEER-REVIEWED PUBLICATIONS. THE COLLEGE OF PHARMACY COMPRISES TWO DEPARTMENTS: PHARMACEUTICAL SCIENCES AND PHARMACY PRACTICE. THE DEPARTMENT OF PHARMACY PRACTICE HAS 12 FULL-TIME FACULTY MEMBERS, 11 AS PHARMACY CLINICAL FACULTY AND ONE AS NON-CLINICAL FACULTY. THE PHARMACY PRACTICE FACULTY PRODUCED 15 PEER-REVIEWED PUBLICATIONS OR PRESENTATIONS DURING THE YEAR AND DID NOT HAVE EXTERNALLY FUNDED RESEACH PROJECTS OR GRANTS DURING THIS REPORTING PERIOD. THE DEPARTMENT OF PHARMACEUTICAL SCIENCES HAS 5 FULL-TIME FACULTY MEMBERS WHOSE RESEARCH INCLUDED EXTERNAL GRANTS SUCH AS ONE FROM THE US DEPARTMENT OF AGRICULTURE. TOTAL DIRECT GRANT REVENUE FOR THE PERIOD WAS $27,875 AND THERE WERE A TOTAL OF 9 PEER-REVIEWED PUBLICATIONS OR PRESENTATIONS. THE SCHOOL OF PHYSICIAN ASSISTANT STUDIES (SPAS) AT MBKU HAD 10 FULL-TIME AND 2 PART-TIME FACULTY. SCHOLARLY RESEARCH ACTIVITIES ARE INTEGRAL TO THE MASTERS CAPSTONE PROJECT (MCP) WHICH HAD A TOTAL OF 8 COMPLETED. THE SPAS PROGRAM HAD A CLASS OF 38 ENROLLED STUDENTS FOR 2023 AND A CLASS OF 40 ENROLLED STUDENTS FOR 2024. THERE WAS NO DIRECT GRANT REVENUE FOR THE PERIOD AND THERE WERE 8 TOTAL PEER-REVIEWED PUBLICATIONS OR PRESENTATIONS. 32537330 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 1 1 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 174 0 1 285 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 13 11 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X LORI JACKLIN 7144637541 5460 E LA PALMA AVE ANAHEIM CA 92807 DR DANIEL L MAY TRUSTEE 4.00 0.00 X 84587 0 0 MR RICHARD S PRICE PAST CHAIRMAN TRUSTEE 4.00 1.00 X 2850 0 0 DR LYNN CAFFREY GABRIEL CHAIRMAN OF THE BOARD 6.00 2.00 X X 0 0 0 DR RAY M BAKER VICE CHAIR 4.00 2.00 X X 0 0 0 DR CINDY BLANQ SECRETARY/TREASURER 4.00 2.00 X X 2088 0 0 DR WYNETTE C AUGUSTINE TRUSTEE 4.00 0.00 X 0 0 0 MS GAYE BREYMAN TRUSTEE 4.00 0.00 X 0 0 0 MR WALTER L BUSTER TRUSTEE 4.00 0.00 X 0 0 0 MR DAVID K GIBSON TRUSTEE 4.00 0.00 X 0 0 0 DR DAWN M MILLER TRUSTEE 4.00 0.00 X 0 0 0 DR KELVIN NGUYEN TRUSTEE 4.00 0.00 X 0 0 0 DR GLENDA B SECOR TRUSTEE 4.00 0.00 X 0 0 0 DR RODNEY L TAHRAN TRUSTEE 4.00 0.00 X 0 0 0 KEVIN ALEXANDER PRESIDENT THRU 6.30.22 40.00 1.00 X 443241 0 111544 DR JULIE SCHORNACK PRESIDENT 40.00 2.00 X 370163 0 74625 MR FRANK J SCOTTI SR. VP FOR ADMINISTRATION AND FINANCE & CFO 40.00 2.00 X 267279 0 35435 EDWARD FISHER DEAN OF PHARMACY 40.00 0.00 X 312571 0 38498 JUDY ORTIZ VP FOR ACADEMIC AFFAIRS 40.00 0.00 X 266044 0 37447 ERIC BORSTING DEAN OF SCCO 40.00 0.00 X 212999 0 34870 CARMEN BARNHARDT VP FOR STUDENT SERVICES 40.00 0.00 X 201946 0 31752 ALLISON MOLLET PROGRAM DIRECTOR FOR SPAS & ASSOCIATE PROFESSOR 40.00 0.00 X 183511 0 16423 JOAN RUBIO VP FOR UNIVERSITY ADVANCEMENT 40.00 0.00 X 180621 0 16406 MARK NAKANO ASSOCIATE DEAN OF CLINICS 40.00 0.00 X 219421 0 29496 SUSAN COTTER PROFESSOR, VISION THERAPY 40.00 0.00 X 212675 0 34148 MONICA TRIVEDI ASSOC. DEAN OF CLINICAL AFFAIRS AND COMMUNITY OUTR 40.00 0.00 X 202189 0 18264 JAVAD TAFRESHI EXECUTIVE ASSOC. DEAN FOR ACADEMIC AFFAIRS 40.00 0.00 X 199560 0 33513 WENDELYN HOLZEN VP FOR HUMAN RESOURCES 40.00 0.00 X 188954 0 25209 3550699 0 537630 90 0 1 0 CERTIFIED MAINTENANCE SERVICES INC 13845 ALTON PARKWAY IRVINE CA 92618 JANITORIAL SERVICES 466331 COMLOCK SECURITY GROUP 302 W KATELLA AVENUE ORANGE CA 92867 LOCKSMITH SERVICES 409707 G & G SECURITY INC 1030 N MOUNTAIN AVENUE ONTARIO CA 91762 SECURITY SERVICES 209884 MARTS & LUNDY 160 CHUBB AVENUE LYNDHURST NJ 07071 CONSULTING SERVICES 185501 LCS CONSTRUCTORS INC 15205 ALTON PKWY IRVINE CA 92618 GENERAL CONTRACTORS 169146 12 1313362 494142 1485748 3293252 TUITION AND FEES 611600 34063002 34063002 EYE CARE CENTERS 621300 4062315 4062315 CONTINUING EDUCATION 611430 158157 158157 38283474 1157754 1157754 21 21 598684 108665 490019 490019 490019 419343 710425 419343 0 0 710425 710425 710425 63790 65646 -1856 -22669 20813 PARKING REVENUE 812930 173692 173692 ADVERTISING 541800 59686 59686 97888 97888 331266 44264355 38434497 80499 2456107 626197 626197 3067269 84587 2982682 19612429 18847725 360510 404194 1657660 1615136 42524 2343691 1701496 548905 93290 1532856 1089455 420477 22924 33689 33689 122435 122435 36900 36900 1055555 533912 476499 45144 131400 3925 126964 511 421227 250344 135143 35740 1064363 309114 755249 1279390 1143189 119856 16345 95714 76836 13263 5615 523796 190414 308110 25272 794459 794459 2339919 1973641 366278 425595 425595 EYE CARE CLINIC MATERIA 967692 967692 EQUIPMENT 840224 840224 DUES AND SUBSCRIPTIONS 351427 351427 1932016 1932016 41255903 32537330 8027014 691559 7538305 8144122 24151952 18641066 728597 722331 888003 1265905 3973046 4804984 386934 443288 781871 1447600 88179641 44573054 45203517 43606587 20162128 27527599 226926 226926 841655 820520 104882934 107650928 5370431 4948597 3728235 3900100 28505000 28075000 4564878 4081464 4272148 3886020 46440692 44891181 X 38201620 41541129 20240622 21218618 58442242 62759747 104882934 107650928 X 3008452 1239262 69791 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2334971 X X 0 21789760 81203 1023853 548130 1094692 21251994 23694542 228876 -1383141 255503 495014 21789760 23489448 291697 2867731 381055 2573279 23694542 23988090 190061 -186537 411305 90861 23489448 24209240 87539 697707 325777 680619 23988090 0.50795 0.26471 0.22734 0 0 6463257 6463257 60575022 29068757 31506265 20559027 15504297 5054730 582335 582335 43606587 FEDERAL ADVANCES FOR STUDENT LOANS 3136890 ANNUITIES PAYABLE 711657 OPERATING LEASE LIABILITIES 37473 3886020 X PART III, LINE 4: THE LIBRARY IS AN ESSENTIAL FUNCTION OF THE EDUCATIONAL PROCESS. PART V, LINE 4: THE UNIVERSITY HAS UTILIZED INVESTMENT AND SPENDING POLICIES FOR ENDOWMENT ASSETS THAT ATTEMPT TO PROVIDE A PREDICTABLE STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS. AS A RESULT, THE ENDOWMENT ASSETS ARE INVESTED IN A MANNER THAT IS INTENDED TO PRODUCE RESULTS THAT, OVER THE LONG-TERM ALLOW IT TO GROW AT A RATE EXCEEDING EXPECTED INFLATION. THIS IS CONSISTENT WITH THE UNIVERSITY'S OBJECTIVE TO MAINTAIN THE PURCHASING POWER OF THE ENDOWMENT ASSETS HELD IN PERPETUITY, AS WELL AS, TO PROVIDE ADDITIONAL REAL GROWTH THROUGH NEW GIFTS AND INVESTMENT RETURN. PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, THE UNIVERSITY IS NOT SUBJECT TO FEDERAL INCOME TAXES EXCEPT TO THE EXTENT IT DERIVES INCOME FROM CERTAIN ACTIVITIES NOT SUBSTANTIALLY RELATED TO ITS TAX-EXEMPT PURPOSE (UNRELATED BUSINESS TRADE OR BUSINESS ACTIVITIES). THE UNIVERSITY IS ALSO EXEMPT FROM STATE INCOME TAXES. THE UNIVERSITY FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE UNIVERSITY FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2023 AND 2022. THE UNIVERSITY'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 MBKU CUSTOMARILY DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS NATIONWIDE, AND FOLLOWS A RACIALLY NONDISCRIMINATORY POLICY AS TO STUDENTS. SO WE HAVE SATISFIED THE PUBLICITY REQUIREMENT BY COMPLYING WITH SECTION 4.02 REV. PROC. 75-50, 1975-2 C.B. 587. SCHEDULE E, PART I, LINE 6 MARSHALL B. KETCHUM UNIVERSITY RECEIVES AID TO ASSIST STUDENTS WITH TUITION, LIVING EXPENSES, AND BOOKS AND MATERIALS. 1 SCHOLARSHIPS 64 67917 PRIVATE SCHOLARSHIPS 177 558280 PART I, LINE 2: GRANTS AND FINANCIAL AID ARE AWARDED TO STUDENTS. THESE FUNDS ARE THEN USED FOR TUITION AND OTHER EXPENSES RELATED TO EDUCATION (BOOKS, LAB EQUIPMENT, ETC). FUNDS ARE GENERALLY NOT ACTUALLY RELEASED TO THE STUDENTS, BUT ARE USED TO OFFSET TUITION COSTS BY THE FINANCIAL AID OFFICE. ADDITIONALLY, IF WE ARE THE RECIPIENT OF GRANTS (RESEARCH AND OTHERWISE), THE PI OR APPROPRIATE AUTHORITY FAMILIAR WITH THE GRANT ENSURES GRANT COMPLIANCE IN ACCORDANCE WITH THE GRANT DOCUMENT. FOR CLINIC RELATED GRANTS, REVIEW/APPROVAL IS BY JOAN RUBIO, VP FOR ADVANCEMENT. PART III, COLUMN C: OF THIS AMOUNT, $67,917 ARE FOR AWARDS THAT WERE RELEASED DIRECTLY TO STUDENTS. X X 1 1 X X X X X 0 1 0 0 0 0 0 1 0 KEVIN ALEXANDER PRESIDENT THRU 6.30.22 392753 0 0 0 50488 0 27053 0 84491 0 554785 0 0 0 DR JULIE SCHORNACK PRESIDENT 364680 0 0 0 5483 0 27450 0 47175 0 444788 0 0 0 EDWARD FISHER DEAN OF PHARMACY 311671 0 0 0 900 0 26100 0 12398 0 351069 0 0 0 JUDY ORTIZ VP FOR ACADEMIC AFFAIRS 265144 0 0 0 900 0 24863 0 12584 0 303491 0 0 0 MR FRANK J SCOTTI SR. VP FOR ADMINISTRATION AND FINANC 266379 0 0 0 900 0 24464 0 10971 0 302714 0 0 0 MARK NAKANO ASSOCIATE DEAN OF CLINICS 218521 0 0 0 900 0 19894 0 9602 0 248917 0 0 0 ERIC BORSTING DEAN OF SCCO 212999 0 0 0 0 0 20236 0 14634 0 247869 0 0 0 SUSAN COTTER PROFESSOR, VISION THERAPY 212675 0 0 0 0 0 19973 0 14175 0 246823 0 0 0 CARMEN BARNHARDT VP FOR STUDENT SERVICES 201046 0 0 0 900 0 19168 0 12584 0 233698 0 0 0 JAVAD TAFRESHI EXECUTIVE ASSOC. DEAN FOR ACADEMIC A 198660 0 0 0 900 0 18879 0 14634 0 233073 0 0 0 MONICA TRIVEDI ASSOC. DEAN OF CLINICAL AFFAIRS AND 201289 0 0 0 900 0 18264 0 0 0 220453 0 0 0 WENDELYN HOLZEN VP FOR HUMAN RESOURCES 188054 0 0 0 900 0 16744 0 8465 0 214163 0 0 0 ALLISON MOLLET PROGRAM DIRECTOR FOR SPAS & ASSOCIAT 182611 0 0 0 900 0 16423 0 0 0 199934 0 0 0 JOAN RUBIO VP FOR UNIVERSITY ADVANCEMENT 179721 0 0 0 900 0 16406 0 0 0 197027 0 0 0 PART I, LINE 1A AS A CONDITION OF EMPLOYMENT, THE MBKU PRESIDENT IS PROVIDED A HOUSING ALLOWANCE OF $33,000, WHICH IS INCLUDED IN THE COMPENSATION INFORMATION PRESENTED IN PART VII OF THE FORM 990 AND IN SCHEDULE J. PART I, LINE 4B PRESIDENT EMERITUS, KEVIN ALEXANDER, PARTICIPATED IN A 457F PLAN. THERE WERE NO CONTRIBUTIONS MADE FOR 2022. PART I, LINE 7 BONUSES ARE DISCRETIONARY AND APPROVED BY THE PRESIDENT FOR ANY EMPLOYEE OTHER THAN THE PRESIDENT. IF THE PRESIDENT IS AWARDED A BONUS, IT IS APPROVED BY THE BOARD. A CITY OF FULLERTON PUBLIC FINANCING AUTHORITY 911917687 359816DE2 2021-09-15 33221377 SEE PART VI 0 0 0 A 7496383 33221377 570182 1 1 1 1 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 1 0 0 0 0 0 A 0 SCHEDULE K, PART I, DESCRIPTION OF PURPOSE: THE NET PROCEEDS WERE USED TO REFINANCE THE $25,600,000 SERIES 2015A (TAX-EXEMPT BONDS) AND $6,910,000 SERIES 2015B (TAXABLE BONDS) BALANCES OF OUTSTANDING PRINCIPLE AND TO ESTABLISH A PROJECT FUND FOR ADDITIONAL CAPITAL EXPENDITURES. NEW TAX EXEMPT BOND ISSUE RETIRED PRIOR TAXABLE BOND SERIES 2015B IN THE AMOUNT OF $115,000 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY MANAGEMENT INCLUDING THE SR. VP FOR ADMINISTRATION AND FINANCE. PRIOR TO SUBMITTING TO THE IRS, THE FINAL FORM 990 IS SENT TO THE ENTIRE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST QUESTIONNAIRE IS DISTRIBUTED TO THE BOARD OF DIRECTORS TO BE COMPLETED ANNUALLY. UPON THE DISCLOSURE OF ANY CONFLICT OF INTEREST, THE MATTER IS DISCUSSED WITH THE CHAIRMAN OF THE BOARD. IF A PERSON HAS A CONFLICT OF INTEREST THEY ARE NOT ALLOWED TO VOTE ON THE TRANSACTION. FORM 990, PART VI, SECTION B, LINE 15 UNIVERSITY PRESIDENT SALARY IS REVIEWED ANNUALLY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. IN ADDITION, THE PRESIDENT'S CONTRACT IS ESTABLISHED AND REVIEWED BY THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THIS PROCESS IS DOCUMENTED AND WAS LAST COMPLETED MARCH 2023. OTHER OFFICERS AND KEY EMPLOYEES SALARIES ARE DETERMINED AND APPROVED BY THE UNIVERSITY PRESIDENT. COMPENSATION IS DETERMINED BY USING COMPARABLE DATA AND INDEPENDENT COMPENSATION STUDIES. THIS PROCESS IS DOCUMENTED AND WAS LAST COMPLETED FEBRUARY 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS, GOVERNING DOCUMENTS, AND CONFLICT OF INTEREST POLICY AVAILABLE FOR PUBLIC INSPECTION UPON REQUEST AT THE UNIVERSITY'S MAIN OFFICE. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF ANNUITIES 69,791. SCCO COLLEGE PROPERTIES INC 2575 YORBA LINDA BLVD FULLERTON CA 92831 953549243 TITLE HOLDING COMPANY CA 501(C)(2) N/A MARSHALL B KETCHUM UNIVERSITY 1 CHARITABLE REMAINDER UNITRUST (3) CHARITABLE TRUST CA MARSHALL B KETCHUM UNIVERSITY T 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SCCO COLLEGE PROPERTIES INC C 1313362 CASH