2022-06-13T10:57:00-05:00 2021-07-31 135565207 KPMG LLP 550 SOUTH HOPE STREET SUITE 1500 LOS ANGELES CA 90071 990 2020-08-01 954274572 WAVE ENTERPRISES INC WAVE 3105064000 24255 PACIFIC COAST HIGHWAY MALIBU CA 902634497 NICOLLE TAYLOR PRESIDENT 3105064000 2022-06-08 1 NICOLLE TAYLOR XXX-XX-XXXX DAVID M HIGHFILL P01517891 2139724000 2022-05-27 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z NICOLLE TAYLOR 24255 PACIFIC COAST HIGHWAY MALIBU CA 902634497 15626571 0 X WWW.PEPPERDINE.EDU X 1989 CA WAVE ENTERPRISES, INC. IS A SUPPORTING ORGANIZATION OF PEPPERDINE UNIVERSITY. 6 3 0 3 0 0 6457000 15464429 7068 0 103362 96029 -364373 -521628 6203057 15038830 6168365 651942 0 0 0 0 0 0 0 254451 5530175 6422816 6182117 -219759 8856713 9587325 44595796 8513 11152752 9578812 33443044 WAVE ENTERPRISES, INC. IS A SUPPORTING ORGANIZATION OF PEPPERDINE UNIVERSITY. 0 0 651942 651942 0 WAVE ENTERPRISES, INC. IS A SUPPORTING ORGANIZATION OF PEPPERDINE UNIVERSITY. AS SUCH, WAVE ENTERPRISES, INC. MANAGES ASSETS, EARNS INCOME, AND PAYS EXPENSES SOLELY FOR THE BENEFIT OF PEPPERDINE UNIVERSITY. 651942 1 1 0 0 0 0 0 0 1 0 1 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 9 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 6 3 0 0 1 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 CA X LAURA PONDER 3105064000 24255 PACIFIC COAST HIGHWAY MALIBU CA 902634497 CHARLES PIPPIN CHAIRMAN & PRESIDENT 1.00 42.00 X X 0 533390 65648 DANIEL DEWALT DIRECTOR & VP 1.00 42.00 X X 0 265503 38071 JAMES GASH DIRECTOR 1.00 42.00 X 0 440146 268530 HAROLD SMETHILLS VICE CHAIRMAN 1.00 3.00 X 0 0 0 TERRY GILES DIRECTOR AS OF 12/2020 1.00 1.00 X 0 0 0 T DANNY PHILLIPS DIRECTOR AS OF 12/2020 1.00 1.00 X 0 0 0 JEFFREY ROHDE VP AS OF 12/20 1.00 40.00 X 0 243356 35553 FAYE HOLTON SECRETARY 1.00 41.00 X 0 199217 36473 AARON WHITE GENERAL COUNSEL AS OF 12/20 1.00 40.00 X 0 133763 57950 GREG RAMIREZ CHIEF FINANCIAL OFFICER AS OF 12/20 1.00 40.00 X 0 248978 24114 LAURA PONDER CONTROLLER AS OF 12/20 1.00 40.00 X 0 195754 15695 ANDREW BENTON FORMER DIRECTOR 0.00 5.00 X 0 632050 69474 0 2892157 611508 0 1 1 0 UNITED 1 PROTECTION SERVICES LLC 107 N ROBIN PRIVADO ONTARIO CA 91764 SECURITY 115506 1 15464429 15464429 15464429 67686 67686 66113 587741 -521628 -521628 -521628 28343 0 28343 28343 28343 15038830 0 0 -425599 651942 651942 27296 27296 2000 2000 157146 157146 5346 5346 41042 41042 54422 54422 REMEDIATION EXPENSES 5212100 5212100 MISCELLANEOUS EXPENSES 27575 27575 EQUIP RENTAL & MAINT 3055 3055 TAXES, FEES, & LICENSES 193 193 6182117 651942 5530175 0 2202819 2104505 0 0 0 0 0 0 0 0 0 0 1198105 1174599 0 0 0 0 41497582 508991 6128098 40988591 3427 0 54876 173101 0 0 0 0 0 155000 9587325 44595796 0 3297909 0 0 8513 15850 0 0 0 108144 0 0 0 0 0 0 0 7730849 8513 11152752 X 8728269 33351876 850543 91168 9578812 33443044 9587325 44595796 X 8856713 14964267 43252 X 0 1 X 1 0 X X X 1 PEPPERDINE UNIVERSITY 951644037 2 1 651942 0 1 651942 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 40734438 763144 508991 40988591 40988591 LIABILITY FOR REMEDIATION COST 4661804 LONG-TERM PROPERTY TAX ASSESSMENT 3069045 7730849 X 25320344 14964267 630993 15595260 9725084 5313746 5313746 15038830 1456112 587741 587741 868371 5313746 5313746 6182117 PART IV, LINE 2B: ESCROW AND CUSTODIAL ARRANGEMENTS: WAVE ENTERPRISES, INC. RECORDS A CUSTODIAL LIABILITY FOR A LIFE ESTATE THAT IS SUBJECT TO THE LIFE INTEREST OF THE BENEFICIARY. NO SIGNIFICANT BENEFIT CAN BE REALIZED UNTIL THE CONTRACTUAL OBLIGATIONS ARE RELEASED. PART X, LINE 2: LIABILITY FOR UNCERTAIN TAX POSITIONS: WAVE ENTERPRISES, INC. IS A SUBSIDIARY OF PEPPERDINE UNIVERSITY, AND IS INCLUDED IN PEPPERDINE UNIVERSITY'S CONSOLIDATED FINANCIAL STATEMENTS. PEPPERDINE UNIVERSITY'S CONSOLIDATED FINANCIAL STATEMENTS INCLUDE THE FOLLOWING FOOTNOTE REGARDING A LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FASB ASC 740: AS A NOT-FOR-PROFIT EDUCATIONAL INSTITUTION, THE UNIVERSITY IS EXEMPT FROM FEDERAL AND CALIFORNIA INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND SECTION 23701(D) OF THE CALIFORNIA REVENUE AND TAXATION CODE (EXCEPT FOR TAXES ON UNRELATED BUSINESS INCOME). SINCE THE UNIVERSITY'S UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JULY 31, 2021 AND 2020 WAS IMMATERIAL, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: ACTUARIAL ADJUSTMENT 43,252. RENTAL EXPENSE REPORTED AS FUNCTIONAL EXPENSE ON FS 587,741. PART XI, LINE 4B - OTHER ADJUSTMENTS: GRANTS TO PEPPERDINE REPORTED AS REVENUE ON FS 651,942. REMEDIATION EXPENSE REPORTED AS REVENUE FOR BOOKS 4,661,804. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES REPORTED NET OF REVENUE ON FORM 990 587,741. PART XII, LINE 4B - OTHER ADJUSTMENTS: GRANTS TO PEPPERDINE REPORTED AS REVENUE ON FS 651,942. REMEDIATION EXPENSE REPORTED AS REVENUE FOR BOOKS 4,661,804. 1 PEPPERDINE UNIVERSITY 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 951644037 501(C)(3) 651942 N/A N/A INSTITUTIONAL SUPPORT 1 0 PART I, LINE 2: MONITORING USE OF FUNDS: GRANTS ARE MADE EXCLUSIVELY TO WAVE ENTERPRISES, INC.'S SUPPORTED ORGANIZATION, PEPPERDINE UNIVERSITY; THEREFORE, NO ADDITIONAL PROCESS IS REQUIRED TO DETERMINE ELIGIBILITY AND SELECTION CRITERIA FOR AWARDING GRANTS. 0 1 0 0 0 0 0 0 0 JAMES GASH DIRECTOR 0 436250 0 0 0 3896 0 26567 0 241963 0 708676 0 0 ANDREW BENTON FORMER DIRECTOR 0 485855 0 0 0 146195 0 28500 0 40974 0 701524 0 128480 CHARLES PIPPIN CHAIRMAN & PRESIDENT 0 402148 0 0 0 131242 0 24817 0 40831 0 599038 0 108842 DANIEL DEWALT DIRECTOR & VP 0 233434 0 0 0 32069 0 17813 0 20258 0 303574 0 0 JEFFREY ROHDE VP AS OF 12/20 0 228220 0 0 0 15136 0 18391 0 17162 0 278909 0 0 GREG RAMIREZ CHIEF FINANCIAL OFFICER AS OF 12/20 0 248582 0 0 0 396 0 18750 0 5364 0 273092 0 0 FAYE HOLTON SECRETARY 0 197375 0 0 0 1842 0 15239 0 21234 0 235690 0 0 LAURA PONDER CONTROLLER AS OF 12/20 0 193272 0 2000 0 482 0 6500 0 9195 0 211449 0 0 AARON WHITE GENERAL COUNSEL AS OF 12/20 0 124847 0 797 0 8119 0 10500 0 47450 0 191713 0 0 PART I, LINE 3 COMPENSATION OF THE ORGANIZATION'S CEO: WAVE ENTERPRISES, INC. IS A SUBSIDIARY OF PEPPERDINE UNIVERSITY. ALL OFFICERS AND COMPENSATED DIRECTORS ARE COMPENSATED BY PEPPERDINE UNIVERSITY. PEPPERDINE UNIVERSITY USED ONE OR MORE OF THE METHODS DESCRIBED IN PART I, LINE 3 TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION. PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED PLANS: PEPPERDINE UNIVERSITY HAS AN INCENTIVE COMPENSATION PLAN FOR CERTAIN KEY EXECUTIVES. UNDER THE PLAN, UPON ACHIEVEMENT OF CERTAIN EXPECTATIONS AND GOALS, AND AT THE DISCRETION OF THE BOARD OF REGENTS, THE PARTICIPANT WILL RECEIVE A UNIVERSITY CONTRIBUTION TO THE PLAN FOR THAT PLAN YEAR. UNIVERSITY CONTRIBUTIONS TO THE PLAN BECOME GRADUALLY VESTED BEGINNING WITH THE LAST DAY OF THE THIRD PLAN YEAR FOLLOWING THE CONTRIBUTION, AND VEST FULLY AT THE COMPLETION OF THE SEVENTH PLAN YEAR FOLLOWING THE AWARD. WHEN THE EMPLOYEE HAS ATTAINED AGE 62, THE ACCOUNT FULLY VESTS AND IS FULLY PAID OUT TO THE EMPLOYEE. THE VESTING SCHEDULE IS THEN ACCELERATED SUCH THAT THE EMPLOYEE IS FULLY VESTED AFTER AGE 62. THIS INCENTIVE COMPENSATION PLAN WILL SUNSET EFFECTIVE AUGUST 1, 2022. NO AMOUNTS WERE AWARDED DURING CALENDAR YEAR 2020. THE FOLLOWING AMOUNTS WERE VESTED AND INCLUDED IN THE EMPLOYEES' COMPENSATION IN 2020: CHARLES PIPPIN - $108,842 ANDREW BENTON - $128,480 X 1 0 GAAP X NET ASSETS 1 15464429 GAAP 1 1 1 1 PART I, LINE 30B: GIFT OF VACANT LAND HELD IN LIFE ESTATE. PART I, LINE 32B: THE PARENT ORGANIZATION, PEPPERDINE UNIVERSITY, SOLICITS NONCASH CONTRIBUTIONS ON BEHALF OF WAVE ENTERPRISES, INC. PART I, LINE 25: WAVE PROPERTY, INC. (FEIN: 95-4297104) MERGED INTO WAVE ENTERPRISES, INC. ON DECEMBER 28, 2020. THIS CONTRIBUTION REPRESENTS THE TRANSFER OF WAVE PROPERTY, INC.'S NET ASSETS TO WAVE ENTERPRISES, INC. FORM 990, PART I, LINE 6 - THE NUMBER OF VOLUNTEERS: THE NUMBER OF VOLUNTEERS REPRESENTS THE NUMBER OF VOLUNTEER DIRECTORS ON THE BOARD OF DIRECTORS AS OF THE END OF THE TAX YEAR. FORM 990, PART VI, SECTION A, LINE 4 SIGNIFICANT CHANGES TO GOVERNING DOCUMENTS: WAVE PROPERTY, INC. (FEIN: 95-4297104) MERGED INTO WAVE ENTERPRISES, INC. ON DECEMBER 28, 2020. THE MERGER WAS APPROVED VIA BOARD RESOLUTION BY BOTH ENTITIES. FORM 990, PART VI, SECTION A, LINE 7A POWER TO APPOINT BOARD DIRECTORS: DIRECTORS SHALL BE NOMINATED BY THE PRESIDENT OF PEPPERDINE UNIVERSITY AND DESIGNATED BY THE CHAIR OF THE BOARD OF REGENTS OF PEPPERDINE UNIVERSITY. CHANGES IN THE DIRECTORS SHALL BE REPORTED TO THE EXECUTIVE COMMITTEE OF THE BOARD OF REGENTS OF PEPPERDINE UNIVERSITY. EACH DIRECTOR SHALL HOLD OFFICE FOR A TERM OF THREE YEARS, OR SUCH SHORTER TERM AS MAY BE SPECIFIED BY THE CHAIR OF THE BOARD OF REGENTS OF PEPPERDINE UNIVERSITY AT THE TIME OF DESIGNATION, OR UNTIL A SUCCESSOR HAS BEEN DESIGNATED AND QUALIFIED. FORM 990, PART VI, SECTION A, LINE 8B COMMITTEE WITH AUTHORITY TO ACT: THE ORGANIZATION HAD NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B PROCESS TO REVIEW FORM 990: WAVE ENTERPRISES, INC.'S FORM 990 IS PREPARED BY A PAID PREPARER. ONCE COMPLETED, IT IS REVIEWED BY AN OFFICER OF THE ORGANIZATION. A FULL COPY OF FORM 990 IS THEN ELECTRONICALLY DISTRIBUTED TO THE ENTIRE BOARD PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12 ORGANIZATION POLICIES: WAVE ENTERPRISES, INC. IS A SUBSIDIARY OF PEPPERDINE UNIVERSITY. ALL OFFICERS AND DIRECTORS ARE EITHER EMPLOYED BY, OR ARE REGENTS OF, PEPPERDINE UNIVERSITY. PEPPERDINE UNIVERSITY HAS A WRITTEN CONFLICT OF INTEREST POLICY, WHISTLEBLOWER POLICY, AND DOCUMENT RETENTION AND DESTRUCTION POLICY IN PLACE, WHICH APPLIES TO THESE INDIVIDUALS. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR EXECUTIVE COMPENSATION: ALL OFFICERS AND COMPENSATED DIRECTORS ARE COMPENSATED BY A RELATED ORGANIZATION, PEPPERDINE UNIVERSITY. SINCE THE ORGANIZATION DID NOT COMPENSATE THE INDIVIDUALS DESCRIBED ON LINES 15A AND 15B DIRECTLY, THE RESPONSE TO THE NOTED LINES IS "NO." FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS AVAILABLE FOR PUBLIC INSPECTION: WAVE ENTERPRISES, INC. IS A SUBSIDIARY OF PEPPERDINE UNIVERSITY. THE ORGANIZATION DOES NOT HAVE SEPARATE POLICIES, AS IT FOLLOWS PEPPERDINE UNIVERSITY'S POLICIES. THE ORGANIZATION'S FINANCIAL STATEMENTS WERE AUDITED AS PART OF THE CONSOLIDATED FINANCIAL STATEMENTS OF PEPPERDINE UNIVERSITY. PEPPERDINE UNIVERSITY'S FINANCIAL STATEMENTS ARE AVAILABLE VIA THE UNIVERSITY'S WEBSITE. PEPPERDINE UNIVERSITY DOES NOT MAKE ITS CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: ACTUARIAL ADJUSTMENT 43,252. PEPPERDINE UNIVERSITY 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 951644037 EDUCATION CA 501(C)(3) LINE 2 N/A 0 WAVE SERVICES INC 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 954315778 SUPPORT CA 501(C)(3) LINE 12A, I PEPPERDINE 0 WAVE PROPERTY INC 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 954297104 SUPPORT CA 501(C)(3) LINE 12A, I PEPPERDINE 0 PEPPERDINE UNIVERSITY (USA) IN LONDONUK 56 PRINCES GATE LONDON UK SW72PG EDUCATION UK PEPPERDINE 0 CINDERELLA IMMOBILIARE SRL VIALE MILTON 41 FLORENCE IT 50129 EDUCATION IT PEPPERDINE 0 PEPPERDINE (SHANGHAI) CONSULTING CO LTD NR 66 LANE 532 YU YUAN ROAD SHANGHAI CH 200040 EDUCATION CH WAVE VENTURE 0 ANDURIL HOLDINGS LLC 310 ALDER ROAD PO BOX 841 DOVER DE 19904 010935824 INVESTMENTS DE N/A N/A 0 0 PEPPERDINE UNIVERSITY SRL 11 DE SEPTIEMBRE 955 BUENOS AIRES AR (1426) CAP EDUCATION AR PEPPERDINE C 0 FUNDACION PEPPERDINE UNIVERSITY PARA 11 DE SEPTIEMBRE 955 BUENOS AIRES AR (1426) CAP EDUCATION AR PEPPERDINE C 0 REVOCABLE TRUST 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 INVESTING CA PEPPERDINE T 0 CHARITABLE REMAINDER UNITRUSTS (2) 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 INVESTING CA PEPPERDINE T 0 CHARITABLE GIFT ANNUITIES (84) 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 INVESTING CA PEPPERDINE T 0 CHARITABLE REMAINDER UNITRUSTS (64) 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 INVESTING CA WAVE SERVICES T 0 CHARITABLE REMAINDER ANNUITY TRUSTS (2) 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 INVESTING CA WAVE SERVICES T 0 NIM CHARITABLE REMAINDER UNITRUSTS (4) 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 INVESTING CA WAVE SERVICES T 0 0 1 1 0 0 0 0 0 0 1 0 0 1 1 1 1 0 1 0 PEPPERDINE UNIVERSITY J 87374 FMV PEPPERDINE UNIVERSITY B 651942 FMV WAVE PROPERTY INC C 15464429 BOOK VALUE PART V, LINE 2: THE $15,464,429 TRANSFER OF PROPERTY REPORTED ON LINE 2(3) REPRESENTS THE TRANSFER OF WAVE PROPERTY, INC.'S (FEIN: 95-4297104) NET ASSETS TO WAVE ENTERPRISES, INC. AS A RESULT OF THE MERGER OF WAVE PROPERTY, INC. INTO WAVE ENTERPRISES, INC. ON DECEMBER 28, 2020.