2024-05-09T14:19:25-05:00 2023-06-30 363990892 Capin Crouse LLP 3200 E Guasti Road Suite 230 Ontario CA 91761 990 2022-07-01 950549600 Biola University Inc BIOL 5629036000 13800 Biola Avenue La Mirada CA 906390001 Michael A Pierce Exec VP, Univ Ops & Finance 5629036000 2024-05-09 1 Michael Pierce 999009999 0 Daren Daiga P01074795 5055022746 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z Barry H Corey 13800 Biola Avenue La Mirada CA 906390001 284191447 0 X www.biola.edu X 1908 CA A private Christian university offering biblically-centered education, scholarship, and service. 27 26 3468 26 1950 27872 36322749 28082531 194270123 190663985 18453556 3879616 311050 1050881 249357478 223677013 67617341 70073431 0 0 105916403 109609328 233290 275086 2786804 68912303 56154833 242679337 236112678 6678141 -12435665 465269884 456742798 142108427 135925564 323161457 320817234 X Biola University is a private Christian university located in Southern California. For over 114 years, Biola has stood out as an institution grounded on biblically centered education, intentional spiritual development, and career preparation, where all faculty, staff and students are professing Christians. With more than 145 academic programs through its six schools, Biola offers degrees ranging from Bachelor of Arts to doctoral degree. 0 0 66867015 38517079 82425185 School of Arts & SciencesThe School of Arts & Sciences consists of four schools: Snyder School of Cinema & Media Arts; School of Fine Arts & Communication; School of Humanities & Social Sciences; and School of Science, Technology, and Health.The Synder School of Cinema & Media Arts focuses on equipping students to serve as an observer, interpreter, and creator of mass media through a Christian worldview. There are four areas of study to select from: game design and interactive media, production, writing for the screen and entertainment producing. The School of Cinema & Media Arts is ranked by Variety as one of the 30 best film programs in the world and is ranked as the #1 Christian film school. They offer four Bachelor's degree programs, including B.A. in Cinema and Media Arts, B.A. in Writing for Film and Television, B.A. in Game Design and Interactive Media, and B.S. in Entertainment Business.The School of Fine Arts and Communication is where students explore new ways to create, tell and distribute stories because every discipline taught is a channel through which students can impact the world and express their faith -- with words, visuals, and sound. The programs give students the opportunity to become proficient and powerful storytellers. The School of Fine Arts and Communication offers 15 Bachelor's degree programs, one Master's degree program, and three certificate programs. Degrees available include B.F.A. in Studio Art, B.S. in Design, B.A. in Music, B.A. in Communication Studies, and M.A. in Public Relations and Reputation Management.The School of Humanities & Social Sciences aims to look at humankind's similar and disparate systems, beliefs, languages and cultures and to gain an understanding through the literary masterpieces of great thinkers. They provide context for traditions and folklore and let philosophy collide with history and politics, in an attempt to make sense of the world from a human perspective, as well as a biblical perspective. The School of Humanities & Social Sciences offers 8 Bachelor degree programs. Degrees available include B.A. in English, B.A. in Political Science, and B.A. in Sociology. The School of Humanities & Social Sciences also offers the Torrey Honors College, which is Biola University's undergraduate honors program.The vision of the School of Science, Technology and Health at Biola University is to equip a new generation of ethically thoughtful professionals in the sciences and health care, grounded in a Christian worldview, educated in an academically rigorous environment, ready to assume positions of leadership, and able to provide the clear moral vision the world desperately needs. The School of Science, Technology and Health offers 16 Bachelor's degree program and two Master's degree programs. Degrees available include B.S. in Nursing, B.S. in Kinesiology, B.S. in Chemistry, and B.S. in Engineering Physics. The School of Science, Technology and Health also offers the Stewart Science Honors Program which is a highly selective honors program that is academically rigorous and is guided by research and technology.As of Fall 2022, the School of Arts & Sciences' enrollment is 2,123 undergraduate students and 68 Masters students. In addition, the Torrey Honors College partnered with Biola's Division of Diversity and Inclusion to create the program Read Well, Live Well, a summer program to introduce underserved students to a college campus. 32042103 18452823 44098797 Talbot School of TheologyThe mission of Talbot School of Theology is the development of disciples of Jesus Christ whose thought processes, character, and lifestyles reflect those of our Lord, and who are dedicated to disciple making throughout the world. The goal is to educate and graduate students characterized by a commitment to serving Christ, missionary and evangelistic zeal, and a solid knowledge of the scriptures. The Talbot School of Theology offers three Bachelor degree programs, eight Master's degree programs, and two Doctoral degree programs, and four certificate programs. Degrees available include B.A. in Bible, Theology, and Ministry; Master of Divinity (M.Div.); and Doctor of Ministry. The Talbot School of Theology also partners with the Crowell School of Business to offer a Masters of Management, Nonprofits Organizations. As of Fall 2022, the Talbot School of Theology's enrollment is 226 undergraduate students, 977 Masters students, and 220 Doctoral students. Talbot School of Theology engages with its students and community through its weekly podcast "Think Biblically," "The Good Book Blog, and the Talbot Magazine which is published twice a year. 27142495 27039157 Auxiliary ServicesAuxiliary Services serves the Biola University community through the Biola Store, conference services, dining services, the Print Shop, residential facilities, and student transportation. Auxiliary Services offers conference services for youth organizations, churches, sports camps, community groups, and other external organizations. There are six eateries available on Biola University's campus, including Caf Biola which is the main dining facility, Eagles' Nest, and The Heritage Cafe. Residential facilities include 10 residence halls and seven apartment buildings offered as housing to undergraduate and graduate students. 26266074 1399464 Student ServicesStudent Services includes Student Development and Intercollegiate Athletics. This includes a variety of student support, such as student communications, Title IX administration, student engagement and wellness, housing personnel, career development, academic advising, and the counseling center for students. It also includes support for international students, special-needs students, veterans, and off-campus students. 14402453 165613 Academic SupportAcademic Support includes the Provost department, the library, diversity and inclusion administration, the Registrar's office, integration of faith and learning, and faculty administration and support. 32384341 13103530 35535769 School of EducationThe School of Education exists to train up those who desire to make an impact as educators in classrooms, administration buildings, homeschools, the mission field and beyond. Our wide selection of rigorous, biblically centered academic offerings - ranging from undergraduate and graduate programs to teaching credentials and certificates. The School of Education offers three Bachelor's program degrees, six Master's program degrees, and eight certificate programs. Degrees available include B.A. in Early Childhood, B.A. in Liberal Studies (Multidisciplinary), and M.A. in Education.As of Fall 2022, the School of Education's enrollment is 177 undergraduate students and 236 Masters students.Crowell School of BusinessThe Crowell School of Business prepares students academically with a foundational business education while nurturing their Christian commitment through solid biblical integration in courses and contact with faculty and staff. The mission of the Crowell School of Business is to equip students to develop a Biblical worldview so as to see business as ministry: to prepare students for excellence and leadership in their career, to be strong in mind and character, and mature in faith so that they will make an impact for God in this time and place. The Crowell School of Business offers two Bachelor degree programs, four Master's degree programs, and one certificate program. Degrees available include B.S. in Accounting, B.S. in Business Administration, and Masters of Business Administration.As of Fall 2022, the Crowell School of Business's enrollment is 477 undergraduate students and 118 Masters students. Every year the Crowell School of Business hosts the Biola Startup Competition where undergraduate and graduate students, as well as recent alumni, are invited to pitch their concept for a business or nonprofit, develop a business plan, and compete for capital. In addition, every other month, the Crowell School of Business hosts the Distinguished Speaker Series, where prominent business leaders are invited to speak with students.Rosemead School of PsychologyRosemead School of Psychology is a top psychology school for Christians who want to integrate their faith with their field. Rosemead School of Psychology brings together the scientific, research-driven study of human behavior with biblical perspectives on human flourishing. Students are equipped with knowledge and skills for professional roles in clinical psychology, therapy, counseling, teaching and research. Rosemead School of Psychology offers two Bachelor's degree programs, one online Bachelor's degree program, and two Doctoral degree programs. Degrees available include B.A. in Psychology and Ph.D. in Clinical Psychology.As of Fall 2022, the Rosemead School of Psychology's enrollment is 343 undergraduate students and 119 Doctoral students.Cook School of Intercultural StudiesThe Cook School of Intercultural Studies exists to equip students to communicate, live and work effectively in culturally diverse contexts, to make disciples of all peoples, and to impact the world for the Lord Jesus Christ. It's diverse faculty, with overseas and missionary experience in nearly 100 countries, equips students for careers in a wide variety of fields globally and domestically. After 40 years of educating and mobilizing students for service around the world, the Cook School of Intercultural Studies will close at the end of the 2023-24 academic year and relocate most of its programs to Biola University's Talbot School of Theology starting Fall 2024. The Cook School of Intercultural Studies offers one Bachelor degree program, one Master's degree program, and three Doctoral programs. Degrees available include B.A. in Intercultural Studies, M.A. in Intercultural Studies, and Ph.D. in Intercultural Education.As of Fall 2022, the Cook School of Intercultural Studies' enrollment is 42 undergraduate students, 34 Masters students, and 116 Doctoral students. The Cook School of Intercultural Studies publishes The International Journal of Christianity and English Language Teaching, which is an annual publication relating to English language teaching and Christian English language teachers. Summer SessionSummer session provides students with the opportunity for a greater degree of flexibility in planning their total program. Students may enrich their course of study and reduce the overall time to completion or decrease their regular course load by careful selection of summer session courses. Courses may be applied to both the degree and the teaching credential programs. Instruction is offered in standard courses by the Biola faculty and capable visiting professors.ResearchResearch includes various grants that Biola University has secured from third parties, which includes administration of grants, as well as the research being performed. Research also includes The Center of Marriage & Relationships which equips students, couples and churches with the tools needed to build happy, healthy friendships, relationships and marriages. Public ServicesPublic Services includes Biola University's Biola Youth program and a counseling center for the community. 73052868 13103530 37100846 199104481 1 1 0 1 0 0 0 0 1 1 1 1 0 0 1 1 1 0 1 1 1 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 1 1 1 0 0 0 1 7010 0 1 3468 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 X 27 26 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 1 1 0 CA OR MD MA MI SC X X Paula Tkach 5629036000 13800 Biola Avenue La Mirada CA 906390001 Barry Corey President 40.00 X X 584175 0 44858 Michael Maples Board Chair 2.00 X X 0 0 0 Bradley Cole Vice Chair 2.00 X X 0 0 0 Rebecca Andrews Trustee 2.00 X 0 0 0 Monica Busch Trustee 2.00 X 0 0 0 Lynn Cohick Trustee 2.00 X 1500 0 0 Adam Edgerly Trustee 2.00 X 0 0 0 David Gyertson Trustee 2.00 X 0 0 0 Dwight Hanger Trustee 2.00 X 0 0 0 Promod Haque Trustee 2.00 X 0 0 0 Carol Hawkins Trustee 2.00 X 0 0 0 Vincent Huang Trustee 2.00 X 0 0 0 Stanley Jantz Trustee 2.00 X 0 0 0 Allan Kavalich Trustee 2.00 X 0 0 0 David Kinnaman Trustee 2.00 X 24382 0 0 Hannah Lee Trustee 2.00 X 28042 0 0 Marilyn Long Trustee 2.00 X 0 0 0 Bryan Loritts Trustee 2.00 X 17191 0 0 Wayne Lowell Trustee 2.00 X 0 0 0 Al Mijares Trustee 2.00 X 0 0 0 David Mitchell Trustee 2.00 X 0 0 0 Philip Paul Trustee 2.00 X 0 0 0 Bob Pritchett Trustee 2.00 X 0 0 0 Henry Riady Trustee 2.00 X 0 0 0 John Siefker Trustee 2.00 X 0 0 0 Kennith Thompson Trustee 2.00 X 0 0 0 Dean VandeKamp Trustee 2.00 X 0 0 0 Michael A Pierce Secretary/EVP, Univ Ops & Finance 40.00 X 316107 0 33279 Brian Phillips Asst Secretary 40.00 X 174175 0 28015 Paula Tkach Asst Secretary/VP, Finance 40.00 X 78296 0 8625 Matthew Hall Provost and Senior Vice President 40.00 X 292163 0 17588 Fitsum Mulat VP, Enrollment Management 40.00 X 124156 0 12806 David Shynn VP, Transformation 40.00 X 176930 0 33353 Heather Cordell VP, Advancement 40.00 X 178858 0 10000 William Hummel Asst Secretary (part year) 40.00 X 229554 0 18284 Lee Wilhite VP Enrollment Marketing & Communication (part yr) 40.00 X 223801 0 87874 Thomas Halleen Dean, Cinema & Media Arts 40.00 X 344566 0 25297 Paula Victor General Counsel 40.00 X 247242 0 13081 Douglas Daugherty Dean, Rosemead School of Psychology 40.00 X 205938 0 25516 Christopher Grace Director, Center for Marriage 40.00 X 238548 0 65395 Scott Rae Sr Advisor to the President for University Mission 40.00 X 217044 0 12547 Adam Morris VP Transformation Chief Advancement Officer 40.00 X 168861 0 18135 Andre Stephens Former VP, Student Development 40.00 X 125581 0 15717 Deborah Taylor Former Provost Senior Vice President 40.00 X 280489 0 35351 4277599 0 505721 227 1 1 0 Bon Appetit 14730 Beach Blvd Ste 107 La Mirada CA 90638 Food Management 5921887 Ron Poulson Associates Inc 766 Lakefield Rd Ste D Westlake Village CA 913612662 General Contractor 4472621 Slingshot LP 1500 S Western Ave Marion IN 469531542 Bookstore, Print Shop and Mail Services 2242026 Google Inc Dept 34256 San Francisco CA 941390001 Advertising & Technology 2070349 RJ Daum Construction Co 11581 Monarch St Garden Grove CA 928411814 General Contractor 828302 55 1888720 26193811 784611 28082531 Tuition and fees 611310 160757065 160757065 Aux service sales 611710 27039157 27039157 Public and student fee 611300 2223085 2223085 644678 644678 190663985 3705489 3705489 86919 86919 542082 273312 268770 268770 268770 60350696 64553 60241122 0 109574 64553 174127 174127 Late fees/finance char 900099 488497 488497 Sponsorships 541800 1950 1950 204745 204745 695192 223677013 190663985 1950 4928547 70073431 70073431 3073366 3073366 375925 41089 334836 84542010 63160359 19820710 1560941 2577345 1945538 580977 50830 12867591 9310913 3313417 243261 6173091 4463986 1592477 116628 29258 29258 168673 168673 275086 275086 511176 511176 16165232 8578531 7586701 4429696 321074 4099670 8952 1257711 945031 276705 35975 3797191 768571 2940103 88517 4556713 1598647 2957466 600 2210256 1872041 265893 72322 302407 185543 90659 26205 3324580 3217576 98406 8598 11207848 10131394 997630 78824 1382515 166938 1215577 Book & serials purchase 898097 892388 2251 3458 Equipment maintenance 742694 257826 484588 280 Licenses and fees 420984 260487 160282 215 Alloc of indirect cost 0 13063107 -13164740 101633 4749802 7850011 -3214688 114479 236112678 199104481 34221393 2786804 25915429 7236799 4530111 9905228 12996120 12988052 3073421 4616022 528388 586639 584845 678918 291543 323639 1772021 2859510 446109899 202685934 240202183 243423965 97722028 91524602 64160863 69453806 13481669 13134355 11263 11263 465269884 456742798 15466491 16313051 8729036 8091916 109430123 71273346 32683163 8482777 7564088 142108427 135925564 X 220374175 203986611 102787282 116830623 323161457 320817234 465269884 456742798 X -12435665 8296633 1794809 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 19715 19715 0 Part II-B, Line 1: Paid membership dues to a higher education lobbying group and airfare for University President to travel to the CA state capital. 1 984918 -34258 47455 903205 0 140987563 7270327 8705351 22485722 134477519 172771406 1617061 -7045009 26355895 140987563 152902420 4445099 36940185 20784078 732220 172771406 151020295 3951947 3570401 4942257 697965 152902420 144053244 5055557 7461643 4645600 904549 151020295 0.48946 0.51054 1 0 6728904 6728904 335807852 126123374 209684478 73368314 64002172 9366142 30204829 12560388 17644441 243423965 Certificates of deposit 99231 C Debt securities 16343268 C U.S. government obligations 2415112 C Hedge funds 1961553 C Private equity 27116088 C Select equity 16169719 C Deferred compensation plan 1213133 C Real estate not measured at fair value 1816687 C Beneficial interest in perpetual trusts 2319015 C 69453806 Perkins and Nursing school loans 1208378 Asset retirement obligation 1918092 Liabilities for annuities payable 4423917 Amounts held for benefit of others 13701 7564088 X 162912563 8296633 1993365 10289998 152622565 511176 70543272 71054448 223677013 164962728 0 164962728 511176 70638774 71149950 236112678 Part IV, Line 1b: Biola (or it's designated individual) is named as administrator or successor trustee on testamentary gifts (estates or revocable living trusts). When the agreement matures upon the death of the grantor, Biola assumes its fiduciary role to marshal assets, pay expenses and distribute beneficiary payments. The administration of each arrangement may last several years until all distributions are made and the accounts are closed. Part V, Line 4: The endowment earnings are used to underwrite the programs and administration of the University, with specific appropriations made to student aid, academic programs, and facility maintenance. Part X, Line 2: The University follows guidance that clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return, including issues relating to financial statement recognition and measurement. This guidance provides that the tax effects from an uncertain tax position can only be recognized in the financial statements if the position is more-likely-than-not to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. The University is exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code, though it is subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the Code. The University has also been recognized by the California Franchise Tax Board as exempt from California franchise and income taxes under Section 23701d of the California Revenue and Taxation Code. The University has processes presently in place to ensure the maintenance of its tax-exempt status; to identify and report unrelated income; to determine its filing and tax obligations in jurisdictions for which is has nexus; and to identify and evaluate other matters that may be considered tax positions. The University has determined that there are no material uncertain tax positions that require recognition or disclosure in the financial statements. Part XI, Line 2d - Other Adjustments: Gain on refinance of bonds 1,993,365. Part XI, Line 4b - Other Adjustments: Student financial aid netted with tuition revenue 70,073,431. Other rental expenses netted against investment income 467,391. Basis of retired fixed assets 2,450. Part XII, Line 4b - Other Adjustments: Student financial aid netted with tuition revenue 70,073,431. Asset Retirement Obligation amortization 95,502. Other rental expenses netted against investment income 467,391. Basis of retired fixed assets 2,450. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The organization publicized its racially nondiscriminatory policy on the homepage of its website at all times during its tax year in a manner reasonably expected to be noticed by visitors. Schedule E, Part I, Line 6 Biola University serves as a conduit to receive and disburse student aid funds from governmental agencies such as the Department of Education and Department of Health and Human Services under the following programs: Federal Academic Competitiveness Grant Program, Federal Pell Award Grant Program, Federal Perkins Loan Program, Federal National Smart Grant Program, Federal Nursing Student Loan Program, Federal Supplemental Educational Opportunity Grant, Federal Work Study and the Employee Retention Credit as part of the CARES Act. Central America and the Caribbean 0 0 Investments 29077642 East Asia and the Pacific 0 14 Program services Study Abroad; Student Recruitment; Advertising; Faculty Travel 59371 Europe 0 111 Program services Study Abroad; Faculty Travel 396907 North America 0 11 Program services Study Abroad; Student Recruitment 18357 Russia and Neighboring States 1 0 Program services Extension Site 59740 South America 0 7 Program services Study Abroad 98000 Sub-Saharan Africa 0 3 Program services Study Abroad; Student Recruitment; Faculty Travel 9667 East Asia and the Pacific 0 3 Fundraising 3515 Europe 0 1 Fundraising 623 North America 0 1 Fundraising 330 1 149 0 2 1 151 29723199 953 29724152 1 0 1 1 1 0 Part I, line 3: The University accounts for foreign expenditures using the accrual method of accounting. Part III Accounting Method: Part IV Line 3 The organization has analyzed its ownership in the foreign corporation and has determined that it does not meet the reporting requirements for Form 5471. Part IV Line 4 The organization has analyzed its ownership in the passive foreign investment company and has determined that it does not meet the reporting requirements for Form 8621. X X X X X X X 1 The Giving Crowd 15707 Coit Rd Suite C PMB 166 Dallas TX 75248 Fundraising 0 0 96000 -96000 Bentz Whaley Flessner and Associate 7900 Xerxes Avenue South Suite 980 Minneapolis MN 55431 Fundraising Strategy 0 0 47706 -47706 EAB PO Box 603519 Charlotte NC 28260 Fundraising 0 0 131380 -131380 275086 -275086 CA WA OR AK CO DC MD MA MI MO OH SC Part I, Line 2b, column (iv) The Giving Crowd primarily helps individuals with estate planning. This company connects individuals with universities, like Biola, to assist them incorporating donations to the university in their estate plans. The Giving Crowd typically does not generate current gifts, rather the university benefits long term as trusts and wills mature. Bentz Whaley Flessner and Associate assists the University in the development of fundraising strategy. No gross receipts were directly generated from the services provided. EAB Advancement Services assists Universities, like Biola, in data-driven, strategy and fundraising execution for annual funds. 1 Student Scholarships 4271 70073071 Part I, Line 2: Biola University awards both merit and need-based scholarships to students at the graduate and undergraduate levels. Merit awards are based on eligibility criteria such as academic, athletic, and music abilities. These typically have academic or participation requirements for renewal. Continued eligibility based on stated requirements is monitored by the Financial Aid office or by the office that makes the awards. Need-based awards are typically awarded based on specific formulas that are based on an institutional or federal cost amount combined with the federal EFC determined by the FAFSA. Continued eligibility is normally contingent on ongoing need in subsequent years. Most of the grants and scholarships awarded by Biola are funded from general funds; however, a portion are funded from restricted funds that have been provided by donors, and are awarded based on the eligibility criteria established by the donors. Some of these funds are awarded by various campus departments, and some through an application process administered by the Financial Aid Office. The Financial Aid Office works closely with the Accounting and Finance offices to monitor availability of funds from both the general fund and restricted fund accounts. X X X X 1 1 X X X 0 0 0 0 0 0 0 0 0 Barry Corey President 528543 0 0 0 55632 0 22515 0 23049 0 629739 0 0 0 Thomas Halleen Dean, Cinema & Media Arts 319014 0 0 0 25552 0 9125 0 16655 0 370346 0 0 0 Michael A Pierce Secretary/EVP, Univ Ops & Finance 315075 0 0 0 1032 0 15358 0 18405 0 349870 0 0 0 Deborah Taylor Former Provost Senior Vice President 277397 0 0 0 3092 0 13602 0 22233 0 316324 0 0 0 Lee Wilhite VP Enrollment Marketing & Communication (part yr) 217434 0 0 0 6367 0 11268 0 77069 0 312138 0 0 0 Matthew Hall Provost and Senior Vice President 152076 0 0 0 140087 0 7104 0 10868 0 310135 0 0 0 Christopher Grace Director, Center for Marriage 237368 0 0 0 1180 0 9678 0 56144 0 304370 0 0 0 Paula Victor General Counsel 245666 0 0 0 1576 0 12321 0 1243 0 260806 0 0 0 William Hummel Asst Secretary (part year) 228631 0 0 0 923 0 6495 0 12124 0 248173 0 0 0 Douglas Daugherty Dean, Rosemead School of Psychology 198712 0 0 0 7226 0 10043 0 15908 0 231889 0 0 0 Scott Rae Sr Advisor to the President for University Mission 216907 0 0 0 137 0 9722 0 3228 0 229994 0 0 0 David Shynn VP, Transformation 176162 0 0 0 768 0 6917 0 26857 0 210704 0 0 0 Brian Phillips Asst Secretary 173808 0 0 0 367 0 8900 0 19525 0 202600 0 0 0 Heather Cordell VP, Advancement 178288 0 0 0 570 0 8563 0 1840 0 189261 0 0 0 Adam Morris VP Transformation Chief Advancement Officer 168388 0 0 0 473 0 6103 0 12350 0 187314 0 0 0 Andre Stephens Former VP, Student Development 125311 0 0 0 270 0 5478 0 10524 0 141583 0 0 0 Part I, Line 1a Travel for Companions: Spouses of listed persons occasionally travel on business trips where there is a University interestin their participation in University activities. Where a bona fide purpose is absent, the travel costs are reported as taxable compensation. Tax Indemnification and Gross-Up Payments: On occasion, the President is reimbursed for house-cleaning services in conjunction with University events held in his personal residence when the President and his wife are on University business. This reimbursement is treated as taxable compensation to the President and appears on the President's W-2. The amounts paid are grossed up to provide for taxes incurred on these payments. Housing Allowance or Residence for Personal Use: Per direction from the Board of Trustees and in accordance with IRC Section 107, the University designated a portion of the President's compensation as a minister's housing allowance which is included in taxable compensation. In Biola's interpretation of IRC Section 107, the University will assist employees who are both ordained ministers and in biblical studies or pastoral positions, in claiming the ministerial housing allowance. The employee, alone, bears the risk of the ministerial housing allowance being disallowed, and for the payment of any associated penalties should there be any adverse future ruling by the IRS or the California Franchise Tax Board. All other employees, even if an ordained minister, will not be given the appropriate resolution needed for filing the ministerial housing allowance. Personal Services: On occasion, the President is reimbursed for expenses, when the President and his wife are on University business. The personal services include anything needed to attend meetings, gatherings, or conferences. This reimbursement is treated as taxable compensation to the President and appears on the President's W-2. The amounts paid are grossed up to provide for taxes incurred on these payments. A CA Municipal Finance Authority 201563466 13048TX32 2017-04-18 83419995 Advance refunding and defeasance of 2008 bonds 0 0 0 A 8375000 83419995 843371 82576624 2017 0 1 1 1 A 0 1 0 0 0.00560 0.00560 0 0 1 A 0 0 0 1 0 0 0 0 1 A 1 Date Rebate Computation Performed Issuer Name: CA Municipal Finance Authority Date the Rebate Computation was Performed: 05/11/2022 Barry Corey Officer Housing Assistance X 1097656 464842 0 1 1 Lee Wilhite Officer Housing Assistance X 50000 11262 0 1 1 Matthew Hall Officer Housing Assistance X 120000 110535 0 1 1 586639 Campus Loft Company Inc Entity more than 35% owned by Adam Morris VP, Transformation, CAO 112584 Equipment purchase 1 Olivia Wilhite Family member of officer, Lee Wilhite 41089 Compensation 0 X 2 125000 Appraised Value X 4133 Market Value X 1 672 Market Value X 5012 580476 Market Value X Equipment 662 73462 Market value X Other 539 868 Market value 0 0 1 1 Part I, Column (b): The number of contributions represent the number of contributions received, not the number of items donated. Part I, Line 32b: Biola contracts with Cars2Charities to receive and sell vehicle donations. Form 990, Part VI, Section A, line 1a Executive committee: The Board of Trustees shall appoint a permanent executive committee composed of the Chair, Vice-Chair, and President as ex-officio members and three or more at-large trustees. The Executive Committee shall have the authority to act for the board. Form 990, Part VI, Section B, line 11b The Form 990 is prepared by an independent CPA firm. The organization's Vice President of Finance and staff work closely with the CPA firm it engages to prepare the return. The final draft of Form 990 is reviewed by the Exec VP, Univ Ops & Finance. Biola posts Form 990, excluding Schedule B, prior to filing, on a secure web site and informs the Board of Trustees that it is available for their review. Form 990, Part VI, Section B, line 12c The Director of Human Resources, in conjunction with the Exec VP, Univ Ops & Finance, is charged with monitoring proposed or ongoing transactions for conflicts of interest and addressing any potential or actual conflicts. Pursuant to the conflict of interest policy, an annual conflict of interest questionnaire, aimed at determining any family and business relationships and transactions or other transactions that may pose a potential conflict, is distributed to all covered persons (i .e. Board members, officers and executive leadership or key employees, if any). The questionnaires are completed and signed annually. If a conflict were to arise, the individual would abstain from deliberations or voting on the matter. Form 990, Part VI, Section B, line 15 Line 15a: The independent board of trustees and the compensation committee reviews and determines annually the compensation for the President. Comparability data from Association of Independent California Colleges and Universities is used in this analysis. The deliberation and decision are documented in the board's minutes on September 16, 2022 for the FY 2022-2023 compensation review. Line 15b: The Committee on the President is an executive committee of the Board of Trustees which serves as the University's compensation committee. It is comprised solely of independent directors, none of which have a conflict of interest with respect to the compensation arrangements. The committee develops, consistent with the organization's philosophy and principles, the annual performance goals and the criteria to be used in determining merit increases criteria for the Vice Presidents and other officers. The full board reviews and validates these compensation arrangements and the compensation approval process is documented in the committee minutes. Form 990, Part VI, Section C, line 19 While federal tax laws do not mandate that the organization's governing documents, conflict of interest policy, and financial statements be made available for public inspection, the organization makes its financial statements and conflicts of interest policy available on the University's website at www.biola.edu. The governing documents are available upon request. Form 990, Part VI, Line 14: A written Document Retention and Destruction policy was implementend in October 2023. The response to this question will be "yes" on next year's tax return. Form 990, Part XI, line 9: Change in value of split interest agreements -198,556. Bond defeasance 1,993,365. Brite Eagle Holdings Inc 525 University Ave Suite 800 Palo Alto CA 94301 844106640 Holding company CA 0 500 Biola University Charitable Remainder Unitrusts (29) Personal Estate CA Biola University Inc 1 Living Trust (1) Living Trust CA Biola University Inc 1 Charitable Remainder Annuity Trust (3) Personal Estate CA Biola University Inc 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0