2018-05-15T16:15:20-05:00 2017-06-30 990 2016-07-01 231352630 DREXEL UNIVERSITY DREX 2158952000 3201 ARCH STREET NO 420 PHILADELPHIA PA 191042875 HELEN Y BOWMAN EXECUTIVE VP, TREASURER & COO 2158952803 2018-05-15 2016 2022-09-23 18:48:47Z JOHN A FRY 3141 CHESTNUT ST PHILADELPIA PA 19104 1492675772 0 X WWW.DREXEL.EDU X 1894 PA INTEGRATED ACADEMIC OFFERINGS ENHANCED BY TECHNOLOGY, COOPERATIVE EDUCATION AND CLINICAL PRACTICE 54 50 13003 2019 7577177 3375232 180378244 147223455 1086337623 1064103544 2950566 100968113 27489353 25786630 1297155786 1338081742 325211032 338090274 0 0 626572748 608108645 250152 246875 15012845 320597181 349841962 1272631113 1296287756 24524673 41793986 1986733444 1964575637 849689263 801674124 1137044181 1162901513 X DREXEL UNIVERSITY FULFILLS OUR FOUNDER'S VISION OF PREPARING EACH NEW GENERATION OF STUDENTS FOR PRODUCTIVE PROFESSIONAL AND CIVIC LIVES WHILE ALSO FOCUSING OUR COLLECTIVE EXPERTISE ON SOLVING SOCIETY'S GREATEST PROBLEMS. DREXEL IS AN ACADEMICALLY COMPREHENSIVE AND GLOBALLY ENGAGED URBAN RESEARCH UNIVERSITY, DEDICATED TO ADVANCING KNOWLEDGE AND SOCIETY AND TO PROVIDING EVERY STUDENT WITH A VALUABLE, RIGOROUS, EXPERIENTIAL, TECHNOLOGY-INFUSED EDUCATION, ENRICHED BY THE NATION'S PREMIER CO-OPERATIVE EDUCATION PROGRAM. 0 0 885710147 325306803 959747390 INSTRUCTIONDREXEL IS A COMPREHENSIVE NATIONAL RESEARCH UNIVERSITY DEDICATED TO PROVIDING QUALITY UNDERGRADUATE, GRADUATE AND PROFESSIONAL EDUCATION FEATURING EXCELLENT ACADEMICS, STATE-OF-THE-ART TECHNOLOGY AND A FOCUS ON REAL-WORLD LEARNING AND SERVICE. THE UNIVERSITY'S MISSION SERVES TRADITIONAL, ADULT AND ONLINE STUDENTS. DREXEL OFFERS NATIONALLY ACCREDITED PROGRAMS THAT MEET THE CHANGING NEEDS OF SOCIETY, INCLUDING MORE THAN 80 BACHELOR'S DEGREE PROGRAMS AND MORE THAN 120 GRADUATE AND PROFESSIONAL DEGREE PROGRAMS ORGANIZED IN 17 COLLEGES AND SCHOOLS: COLLEGE OF ARTS AND SCIENCES; SCHOOL OF BIOMEDICAL ENGINEERING, SCIENCE AND HEALTH SYSTEMS; BENNETT S. LEBOW COLLEGE OF BUSINESS; COLLEGE OF COMPUTING & INFORMATICS; SCHOOL OF EDUCATION; COLLEGE OF ENGINEERING; CHARLES D. CLOSE SCHOOL OF ENTREPRENEURSHIP; GRADUATE COLLEGE; PENNONI HONORS COLLEGE; CENTER FOR SPORT MANAGEMENT; CENTER FOR FOOD AND HOSPITALITY MANAGEMENT; THOMAS R. KLINE SCHOOL OF LAW; ANTOINETTE WESTPHAL COLLEGE OF MEDIA ARTS & DESIGN; COLLEGE OF MEDICINE; COLLEGE OF NURSING AND HEALTH PROFESSIONS; RICHARD C. GOODWIN COLLEGE OF PROFESSIONAL STUDIES AND DANA AND DAVID DORNSIFE SCHOOL OF PUBLIC HEALTH. A STRATEGIC PLAN THROUGH 2019, "TRANSFORMING THE MODERN URBAN UNIVERSITY," GUIDES DREXEL'S EFFORTS TO INVEST FURTHER IN ACADEMIC EXCELLENCE, SERVE MORE STUDENTS WHILE IMPROVING THE STUDENT EXPERIENCE AND ENHANCE THE UNIVERSITY'S GLOBAL IMPACT. THE PLAN PAYS SPECIAL ATTENTION TO ENSURING THAT DREXEL'S ACADEMIC ENTERPRISE HELPS STRENGTHEN THE NEIGHBORHOODS AROUND ITS CAMPUSES. DREXEL IS THE LEAD ACADEMIC PARTNER IN THE APPLICATION AND IMPLEMENTATION PROCESS FOR THE FEDERAL PROMISE ZONE IN WEST PHILADELPHIA, ONE OF THE FIRST FIVE LOCATIONS CHOSEN FOR A WHITE HOUSE INITIATIVE TO DIRECT RESOURCES TO THE NATION'S MOST PERSISTENTLY POVERTY-STRICKEN COMMUNITIES. AS THE UNITED STATES TRANSITIONS TO AN INFORMATION ECONOMY, MANY JOBS REQUIRE THE CRITICAL THINKING AND PROBLEM-SOLVING SKILLS INSTILLED BY GRADUATE EDUCATION. DREXEL LAUNCHED ITS GRADUATE COLLEGE IN 2015 TO BETTER COORDINATE GRADUATE EDUCATION AT THE UNIVERSITY AND ENSURE GRADUATE STUDENT SUCCESS.DREXEL HAS MADE A STRATEGIC COMMITMENT TO HELP IMPROVE THE NATION'S GLOBAL COMPETITIVENESS BY INCREASING STUDENTS' INTERNATIONAL ENGAGEMENT TO BUILD CULTURAL COMPETENCIES. IN RECENT YEARS, THE UNIVERSITY HAS GROWN THE NUMBER OF STUDY ABROAD OPPORTUNITIES BY MORE THAN A QUARTER AND THE NUMBER OF GLOBAL POSITIONS IN DREXEL'S SIGNATURE COOPERATIVE EDUCATION PROGRAM BY A THIRD, WHILE TRIPLING BOTH THE PROGRAMMING OF THE OFFICE OF INTERNATIONAL PROGRAMS AND THE TOTAL NUMBER OF INITIATIVES AT DREXEL THAT SUPPORT CROSS-CULTURAL EDUCATION AND ENGAGEMENT.UNDERGRADUATE ENROLLMENT FOR ACADEMIC YEAR 2016-2017 = 15,498GRADUATE AND PROFESSIONAL ENROLLMENT FOR ACADEMIC YEAR 2016-2017 = 8,692 NUMBER OF DEGREES CONFERRED IN ACADEMIC YEAR 2016-2017: ASSOCIATE DEGREES = 2 BACHELOR'S DEGREES = 3,735 MASTER'S DEGREES = 2,422 DOCTORAL DEGREES = 698 CERTIFICATES AND OTHER = 426 134875284 12783471 19712083 RESEARCHDREXEL RESEARCHERS WORK ACROSS DISCIPLINES TO INCREASE THE WORLD'S STORE OF KNOWLEDGE AND TRANSLATE THAT NEW KNOWLEDGE INTO SOLUTIONS WITH TREMENDOUS POSITIVE IMPACT ON SOCIETY. IN 2017, DREXEL UNIVERSITY WAS RECOGNIZED BY INDEPENDENT ECONOMIC THINK TANK THE MILKEN INSTITUTE AS ONE OF THE TOP 50 UNIVERSITIES FOR COMMERCIALIZATION IN THE UNITED STATES, OR 46TH OUT OF 225 INSTITUTIONS. DREXEL SCORED HIGH IN TERMS OF ACTUAL NUMBERS OF INVENTIONS AND WHEN THOSE NUMBERS WERE ADJUSTED PER RESEARCH DOLLARS. TYPICALLY, THE UNIVERSITY RECEIVES ABOUT $110 MILLION PER YEAR IN RESEARCH EXPENDITURES, BUT ITS OUTPUT RIVALS THAT OF UNIVERSITIES THAT RECEIVE ANYWHERE FROM THREE TO FIVE TIMES THAT AMOUNT. DURING THE PAST YEAR ALONE, THE UNIVERSITY'S ACCELERATOR DREXEL VENTURES NEGOTIATED 24 LICENSE AND OPTION AGREEMENTS, INCLUDING FOUR STARTUPS, TO ADVANCE THE COMMERCIALIZATION OF PROMISING TECHNOLOGIES. DREXEL RESEARCHERS REPORTED 119 NEW INVENTIONS, AND THE UNIVERSITY RECEIVED 52 ISSUED U.S. PATENTS, AN ALL-TIME RECORD FOR THE INSTITUTION. DREXEL IS COMMITTED TO USING ITS RESEARCH AND TECHNOLOGICAL EXPERTISE TO BECOME AN EVEN MORE POWERFUL ECONOMIC ENGINE FOR GREATER PHILADELPHIA, HELPING TO CREATE NEW HIGH-TECH BUSINESSES AND JOBS. DREXEL LAUNCHED TWO NEW ACCELERATOR PROGRAMS IN 2015, IN COLLABORATION WITH THE STATE-FUNDED BEN FRANKLIN TECHNOLOGY PARTNERS OF SOUTHEASTERN PENNSYLVANIA AND THE CITY OF PHILADELPHIA, TO HELP GROW NEW BUSINESSES IN TECHNOLOGY AND MEDICAL DEVICES AND THERAPEUTICS. THESE ACCELERATORS ARE AMONG THE FIRST BUILDING BLOCKS OF SCHUYLKILL YARDS, A DREXEL AND BRANDYWINE REALTY TRUST INITIATIVE TO DRIVE UNIVERSITY CITY'S ASCENDANCY AS A GLOBAL INNOVATION DISTRICT. DREXEL'S RESEARCHERS CONTINUE TO BUILD PARTNERSHIPS THAT ARE CRITICAL TO CREATING 21ST-CENTURY SOLUTIONS TO AMERICA'S CHALLENGES. IN APRIL 2016, THE U.S. DEPARTMENT OF DEFENSE TAPPED DREXEL AS A KEY LEADER IN THE CREATION OF A $75 MILLION NATIONAL RESEARCH INSTITUTE THAT WILL SUPPORT AMERICAN TEXTILE MANUFACTURERS IN BRINGING SOPHISTICATED NEW MATERIALS AND TEXTILES TO THE MARKETPLACE. THE INSTITUTE, CALLED ADVANCED FUNCTIONAL FABRICS OF AMERICA, WILL BE A NATIONAL MANUFACTURING RESOURCE CENTER FOR INDUSTRY AND GOVERNMENT TO DRAW ON ACADEMIC EXPERTISE IN NEW FIBERS AND TEXTILES. THE RESULT WILL BE FABRICS ENGINEERED TO SEE, HEAR, SENSE AND COMMUNICATE; SERVING AN ARRAY OF INDUSTRIES INCLUDING AEROSPACE, APPAREL, ARCHITECTURE AND HEALTH.DURING FY17, DREXEL UNIVERSITY CONDUCTED RESEARCH ON THE FOLLOWING RESEARCH GRANTS:FEDERALLY SPONSORED RESEARCH - 971 GRANTSSTATE OF PENNSYLVANIA SPONSORED RESEARCH - 109 GRANTSCITY OF PHILADELPHIA CONTRACTS - 43 GRANTSPRIVATE FOUNDATION SPONSORED RESEARCH - 366 GRANTSINDUSTRY SPONSORED RESEARCH - 185 GRANTS 121259562 0 100600550 PATIENT CARE/PUBLIC SERVICEIT IS THE COLLEGE'S PATIENT CARE MISSION TO SERVE THE COMMUNITY THROUGH THE DELIVERY OF HIGH-QUALITY, COST-EFFECTIVE HEALTH CARE SERVICES, INCLUDING PROGRAMS OF HEALTH PROMOTION AND DISEASE PREVENTION, ALL SUCH SERVICES PROVIDED WITH REGARD FOR THE INDIVIDUAL PATIENT AND HIS OR HER FAMILY. DREXEL UNIVERSITY'S CLINICAL PRACTICES LEAD THE WAY IN PIONEERING TREATMENTS AND PROVIDE EXCEPTIONAL CARE IN THE AREAS OF SPECIALTY INCLUDING INFECTIOUS DISEASE, SLEEP DISORDERS, CARDIOVASCULAR DISEASE, AND WOMEN'S HEALTH. 1141844993 1 0 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 0 1 1 1 1 1 0 0 1 1 1 1 0 0 0 0 1 0 1 1 1 1 1 1 0 0 1 1 1 1 0 0 1 X 29889 0 1 13003 1 1 1 1 EK 0 0 0 1 1 0 0 0 0 X 54 50 1 0 0 1 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 PA AK MD MA MI NH DC NY AZ SC WA CO X TAX OFFICE 2158951463 3201 ARCH STREET SUITE 420 PHILADELPHIA PA 19104 RENEE AMOORE TRUSTEE 2.00 X 0 0 0 PAUL MEL BAIADA TRUSTEE 2.00 X 0 0 0 RANDALL S BURKERT TRUSTEE 2.00 X 0 0 0 HONORABLE IDA K CHEN TRUSTEE 2.00 X 0 0 0 KATHLEEN P CHIMICLES TRUSTEE 2.00 X 0 0 0 ABBIE DEAN TRUSTEE 2.00 X 0 0 0 NICHOLAS DEBENEDICTIS TRUSTEE 2.00 X 0 0 0 RICHARD J DEPIANO TRUSTEE 2.00 X 0 0 0 GERIANNE TRINGALI DIPIANO TRUSTEE 2.00 X 0 0 0 ROBERT J DRUMMOND TRUSTEE 2.00 X 0 0 0 BRIAN R FORD TRUSTEE 2.00 X 0 0 0 SEAN J GALLAGHER TRUSTEE 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THOMAS R KLINE TRUSTEE 2.00 X 0 0 0 MICHAEL A RASHID TRUSTEE 2.00 X 0 0 0 MICHAEL J WILLIAMS TRUSTEE 2.00 X 0 0 0 R JOHN CHAPEL JR TRUSTEE 2.00 X 0 0 0 RICHARD C ILL TRUSTEE 2.00 X 0 0 0 DAVID R GELTZER TRUSTEE 2.00 X 0 0 0 RICHELLE P PARHAM TRUSTEE 2.00 X 0 0 0 ROBERT F POWELSON TRUSTEE 2.00 X 0 0 0 JAMES JOSEPH MAGUIRE JR TRUSTEE 2.00 X 0 0 0 MICHAEL FORMAN TRUSTEE 2.00 X 0 0 0 MICHAEL J EDWARDS TRUSTEE 2.00 X 0 0 0 KAREN DOUGHERTY BUCHHOLZ TRUSTEE 2.00 X 0 0 0 PETER AUSTEN TRUSTEE 2.00 X 0 0 0 DAVID V KAGANOVSKY TRUSTEE 2.00 X 0 0 0 LAWRENCE M KORMAN TRUSTEE 2.00 X 0 0 0 MATTHEW S NAYLOR TRUSTEE 2.00 X 0 0 0 PHILIP L RINALDI TRUSTEE 2.00 X 0 0 0 MICHAEL J EXLER ESQ SECRETARY 40.00 X 480375 0 45691 HELEN Y BOWMAN EXECUTIVE VP/TREASURER/COO 40.00 X 746151 0 90391 DONNA MURASKO PHD DEAN, COLLEGE OF ARTS & SC 40.00 X 359632 0 42074 BRIAN T KEECH SVP GOVERNMENT & COMMUNITY 40.00 X 332297 0 40391 LORI N DOYLE SVP UNIVERSITY COMMUNICATI 40.00 X 390094 0 45464 JOSEPH B HUGHES DEAN, COLLEGE OF ENGINEERI 40.00 X 382125 0 44384 KEITH A ORRIS SVP CORPORATE RELATIONS & 40.00 X 457896 0 42074 DANIEL V SCHIDLOW DEAN AND SVP, MEDICAL AFFA 40.00 X 727521 0 30513 SUSAN C ALDRIDGE SVP,ONLINE LEARNING & PRES 40.00 X 475065 0 37480 RANDALL C DEIKE SVP, ENROLLMENT MGMT & STU 40.00 X 667239 0 110805 M BRIAN BLAKE PROVOST & EXEC VP ACADEMIC 40.00 X 695688 0 40391 DAVID L UNRUH SVP, INSTITUTIONAL ADVANCE 40.00 X 632651 0 80391 LYDIA KOMARNICKY-KOCHER PROFESSOR AND CHAIR OF RAD 40.00 X 508935 0 44441 JAMES FLINT ATHLETICS HEAD COACH 40.00 X 581604 0 45221 DAVID STEIN ASSOCIATE DEAN & COO, SURGERY CONTROL 40.00 X 627067 0 40391 JAMES REYNOLDS GASTROENTEROLGY 40.00 X 577686 0 36067 RICARDO CRUCIANI ASSOCIATE PROFESSOR, PHARMACOLOGY & PHYSIOLOGY 40.00 X 585713 0 33892 MARK GREENBERG FORMER PROVOST AND SVP, AC 40.00 X 388374 0 45691 JAMES R TUCKER FORMER SVP ADMINISTRATIVE & BUSIN 0.00 X 191209 0 0 JAMES HERBERT FORMER INTERIM PROVOST 40.00 X 396082 0 45691 11546757 0 1269522 1217 1 1 0 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15012845 56887 58943 116471875 43269340 157015426 144128582 97763900 87923642 18000 13333014 8543891 1389159860 498082255 888729578 891077605 400500568 389910621 264836374 344215000 31026130 30483955 16981692 24964058 1986733444 1964575637 234030800 212274221 135836702 128960784 427653123 408014317 52168638 52424802 849689263 801674124 X 611575611 620937546 225590231 231503793 299878339 310460174 1137044181 1162901513 1986733444 1964575637 41793986 -15936654 0 X X 0 1 X 1 1 1 X 127243677 114184550 167363697 180378244 147223454 736393622 127243677 114184550 167363697 180378244 147223454 736393622 60551308 675842314 49791098 76870624 29299768 7137475 83863653 246962618 1586436 2533206 2917742 2447445 3376232 12861061 996217301 3954267877 0.67840 0.72460 X 1 0 0 1 185029 0 0 1 467166 0 0 652195 0 PART II-B, LINE 1: LINE A - VOLUNTEERS: DREXEL UNIVERSITY HAS USED VOLUNTEERS TO HELP GET OUR MESSAGE TO ELECTED OFFICIALS. SPECIFICALLY, WE HAVE PARTICIPATED IN SUCH ACTIVITIES SUCH AS STUDENT LOBBYING DAY, SPONSORED BY THE ASSOCIATION FOR INDEPENDENT COLLEGES AND UNIVERSITIES, IN WHICH WE TAKE STUDENTS TO HARRISBURG TO MEET THEIR ELECTED OFFICIALS. THIS IS DONE IN COORDINATION WITH THE STUDENT GOVERNMENT ASSOCIATION AND THE OFFICE OF UNIVERSITY STUDENT LIFE. LINE D - MAILINGS TO MEMBERS, LEGISLATORS OR THE PUBLIC: IN CASES WHERE LEGISLATION MAY OR WILL AFFECT THE UNIVERSITY, ITS SUBSIDIARIES OR HIGHER EDUCATION AND HEALTH CARE IN GENERAL, WE MAKE CONTACT WITH LEGISLATORS THROUGH MAILINGS. THESE ARE PERSONALIZED MAILINGS AS OPPOSED TO DIRECT MAIL CAMPAIGNS. LINE G - DIRECT CONTACT WITH LEGISLATORS, THEIR STAFFS, GOVERNMENT OFFICIALS, OR A LEGISLATIVE BODY: WE HAVE DIRECT CONTACT WITH OUR LEGISLATORS, THEIR STAFFS, AND VARIOUS GOVERNMENT OFFICIALS THROUGHOUT THE YEAR VIA PHONE CALLS, WRITTEN CORRESPONDENCE, AND MEETINGS. THE FREQUENCY OF CONTACT DEPENDS ON THE ISSUES AT HAND. 10441299 X X X X 0 589106075 1981000 69113000 6471075 13904000 639825000 585577000 39641291 -13919159 6040655 16152402 589106075 421686000 172402000 14441000 5726137 17225863 585577000 390238000 -7443000 56103000 4458144 12753856 421686000 364097000 13767000 28541000 4427242 11739758 390238000 0.36910 0.42670 0.20420 0 0 98456523 98456523 987365244 289686233 697679011 77078219 43394554 33683665 152114277 108860212 43254065 74145597 56141256 18004341 891077605 INVESTMENT AT NAV (PRIVATE EQUITY, REAL ESTATE, HEDGE FUNDS, AND OTHER) 206481000 F REAL ESTATE & REAL ASSETS 137734000 F 344215000 DEPOSITS 20193676 GOVERNMENT ADVANCES FOR STUDENT LOANS 29624795 CAPITAL LEASE, ARMORY 2676553 INTERCOMPANY PAYABLE -70222 52424802 X PART III, LINE 4: THE DREXEL COLLECTION, FOUNDED BY A.J. DREXEL IN 1892, CONSISTS OF APPROXIMATELY 6,000 WORKS OF ART. THE FOCUS OF THE COLLECTION IS PRIMARILY 19TH CENTURY EUROPEAN ART INCLUDING PAINTINGS, SCULPTURE, PRINTS AND DRAWINGS, PORCELAIN, SILVER AND FURNITURE. WE ALSO MAINTAIN THE CORE COLLECTION FROM THE ALMA DEA MORANI GALLERY, WHICH WAS THE FIRST ART GALLERY PART OF A MEDICAL COLLEGE WHEN IT WAS FOUNDED IN 1985 AND ARE CREATING A PUBLIC EXHIBIT OF THESE PIECES ON THE CENTER CITY CAMPUS. ALL OF THESE PIECES ARE USED TO SHOW THE HISTORY OF DREXEL'S MEDICAL COLLEGE AS WELL AS OFFER ACCESS TO CULTURAL ARTIFACTS TO THE STUDENTS. THE DREXEL COLLECTION IS DISPLAYED IN THREE GALLERIES - THE ANTHONY J. DREXEL PICTURE GALLERY, THE RINCLIFFE GALLERY AND THE GALLERY IN THE PAUL PECK ALUMNI CENTER. THE ANTHONY J. DREXEL PICTURE GALLERY DISPLAYS OUR PERMANENT COLLECTION OF PRIMARILY 19TH CENTURY EUROPEAN PAINTINGS AND IS USED DAILY FOR TOURS OF THE UNIVERSITY. THE RINCLIFFE AND PAUL PECK ALUMNI GALLERIES ARE ROTATING EXHIBITION SPACES THAT INCORPORATE BOTH INTERNAL COLLECTIONS AND LOAN ITEMS AND BOTH ARE USED AS A TEACHING TOOL ABOUT EXHIBITION PLANNING AND PROGRAMMING FOR STUDENTS IN THE MUSEUM LEADERSHIP AND ARTS MANAGEMENT PROGRAMS. THE GALLERIES ARE FREE AND OPEN TO THE STUDENTS, FACULTY, STAFF AND THE PUBLIC. OBJECTS FROM THE DREXEL COLLECTION ARE ALSO DISPLAYED THROUGHOUT THE MAIN BUILDING AND UNIVERSITY CITY, CENTER CITY AND QUEEN LANE CAMPUSES. THE DISPLAYS INTERPRET THE ARTWORK TO MAKE THEM MORE RELEVANT TO THE STUDENTS, FACULTY AND STAFF. THE COLLECTION OBJECTS ARE ALSO USED FOR WORKSHOPS AND CLASSES TO DESIGN AND IMPLEMENT PUBLIC EXHIBITIONS, RESEARCH PROJECTS AND PRACTICUMS FOR STUDENTS STUDYING MUSEUM LEADERSHIP AND ART MANAGEMENT. PART V, LINE 4: DREXEL UNIVERSITY HAD AN ENDOWMENT SPENDING RULE THAT THE SPENDING OF ENDOWMENT RESOURCES TO 4.75% OF THE AVERAGE MARKET VALUE OF THE POOLED ENDOWMENT PORTFOLIO FOR THE PRIOR SEVEN FISCAL YEARS. TO THE EXTENT THAT CURRENT YIELD IS INADEQUATE TO MEET THE SPENDING RULE, A PORTION OF CUMULATIVE REALIZED NET GAINS IS AVAILABLE FOR CURRENT USE. ENDOWMENT RESOURCES ARE USED TO FUND OPERATIONS, SCHOLARSHIPS, ACADEMIC PROGRAMS AND PROFESSORSHIPS. PART X, LINE 2: THE UNIVERSITY HAS BEEN GRANTED TAX-EXEMPT STATUS AS A NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND, ACCORDINGLY, FILES FEDERAL TAX FORM 990 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) ANNUALLY. THE UNIVERSITY FILES U.S. FEDERAL, STATE AND LOCAL INFORMATIONAL RETURNS. THE STATUTE OF LIMITATIONS ON THE UNIVERSITY'S U.S. FEDERAL INFORMATION RETURNS REMAINS OPEN FOR THREE YEARS FOLLOWING THE YEAR THEY ARE FILED. THE UNIVERSITY AND ITS AFFILIATES ENGAGE IN ACTIVITIES THAT ARE SUBJECT TO UNRELATED BUSINESS INCOME TAXES FOR WHICH APPROPRIATE INCOME TAX RETURNS ARE FILED. THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") ISSUED ACCOUNTING STANDARDS CODIFICATION ("ASC") NO.740-10, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH REQUIRES THAT A TAX POSITION BE RECOGNIZED OR DERECOGNIZED BASED ON A "MORE LIKELY THAN NOT" THRESHOLD. THE UNIVERSITY DOES NOT BELIEVE THERE ARE ANY UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 DREXEL UNIVERSITY INCLUDES ITS RACIALLY NONDISCRIMINATORY POLICY IN NEWSPAPER AND MAGAZINE ADVERTISING DURING REGISTRATION PERIODS AND IN STUDENT BROCHURES. SCHEDULE E, PART I, LINE 5 DREXEL UNIVERSITY WAS FOUNDED UPON THE PRINCIPLE OF DIVERSITY AS AN EDUCATIONAL GOAL AND REMAINS COMMITTED TO THAT PRINCIPLE TODAY. IN 1892, NOTED FINANCIER, PHILANTHROPIST, AND ADVISOR TO U.S. PRESIDENTS, ANTHONY J. DREXEL CREATED THE DREXEL INSTITUTE OF ART, SCIENCE AND INDUSTRY TO PROVIDE HIGHER EDUCATION TO MEN AND WOMEN OF THE WORKING CLASS WHO WERE NOT WELCOME IN THE COLLEGES AND UNIVERSITIES OF THAT DAY. A.J.DREXEL ENVISIONED A LEARNING ENVIRONMENT IN WHICH YOUNG MEN AND WOMEN WOULD LEARN SKILLS AND ACQUIRE KNOWLEDGE IN SUBJECTS THAT WOULD PREPARE THEM FOR REWARDING CAREERS. DREXEL'S CO-OPERATIVE EDUCATION PROGRAM ENCOURAGES STUDENTS TO LEARN HOW TO WORK TOGETHER BY PLACING THEM IN REAL BUSINESS SETTINGS THAT ARE INCREASINGLY DIVERSE. WE HAVE EMBRACED DIVERSITY BECAUSE WE KNOW THERE IS NO OTHER WAY TO ENSURE OUR STUDENTS ARE PREPARED FOR A DIVERSE WORLD. WE WILL CONTINUE TO HONOR OUR FOUNDERS' VISIONS, CREATING A DIVERSE STUDENT COMMUNITY AS AN ESSENTIAL PART OF OUR MISSION. SCHEDULE E, PART I, LINE 6 DREXEL UNIVERSITY RECEIVES FUNDS FROM VARIOUS FEDERAL AND STATE GOVERNMENTAL AGENCIES UNDER THEIR RESPECTIVE STUDENT FINANCIAL AID ASSISTANCE PROGRAMS. FEDERAL PROGRAMS INCLUDE THE PELL GRANT PROGRAM, SUPPLEMENTAL EDUCATION OPPORTUNITY GRANT (SEOG) PROGRAM, COLLEGE WORK STUDY (CWS) PROGRAM AND PERKINS LOAN PROGRAM. THE STATE PROGRAM IS THE PENNSYLVANIA HIGHER EDUCATION ASSISTANCE PROGRAM FOR STUDENTS. THE UNIVERSITY RECEIVES FUNDS FROM VARIOUS FEDERAL AND STATE GOVERNMENTAL AGENCIES FOR SPONSORED RESEARCH AND OTHER PROJECT GRANTS, INCLUDING NSF AND HHS. APPROPRIATIONS ARE RECEIVED FROM THE COMMONWEALTH OF PENNSYLVANIA FOR THE MD PROGRAM, GENERAL MAINTENANCE OF THE COLLEGE, STUDENT AID, MINORITY EDUCATION AND RECRUITMENT, PEDIATRIC SERVICES AND OTHER OPERATING EXPENSES THAT FURTHER OUR MISSION AND OBJECTIVES OF EDUCATION AND RESEARCH. 1 RUSSIA 0 0 BUSINESS 47 CENTRAL AMERICA 0 0 BUSINESS 1380 SUB-SAHARAN AFRICA 0 0 BUSINESS 1826 SOUTH ASIA 0 0 BUSINESS 3073 SOUTH AMERICA 0 0 BUSINESS 19215 MIDDLE EAST AND NORTH AFRICA 0 0 BUSINESS 19305 NORTH AMERICA 0 0 BUSINESS 41081 EAST ASIA AND THE PACIFIC 0 0 BUSINESS 72014 EUROPE 0 0 BUSINESS 143502 NORTH AMERICA 0 0 FUNDRAISING 500 SOUTH ASIA 0 0 FUNDRAISING 1000 CENTRAL AMERICA 0 0 FUNDRAISING 1370 EUROPE 0 0 FUNDRAISING 2154 EAST ASIA AND THE PACIFIC 0 0 FUNDRAISING 6253 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 1221 SOUTH AMERICA 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 2223 SOUTH AMERICA 0 0 PROGRAM SERVICES ATHLETICS 501 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD 987 RUSSIA 0 0 PROGRAM SERVICES RECRUITING 1177 NORTH AMERICA 0 0 PROGRAM SERVICES ATHLETICS 1243 CENTRAL AMERICA 0 0 PROGRAM SERVICES RECRUITING 1725 SOUTH ASIA 0 0 PROGRAM SERVICES RESEARCH 2553 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD 2787 SOUTH AMERICA 0 0 PROGRAM SERVICES RECRUITING 2833 CENTRAL AMERICA 0 0 PROGRAM SERVICES RESEARCH 3020 MIDDLE EAST & NORTH AFRICA 0 0 PROGRAM SERVICES RESEARCH 4409 NORTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 4579 SOUTH ASIA 0 0 PROGRAM SERVICES STUDY ABROAD 4641 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES RECRUITING 5374 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 5384 SOUTH ASIA 0 0 PROGRAM SERVICES RECRUITING 5850 EUROPE 0 0 PROGRAM SERVICES ATHLETICS 5995 MIDDLE EAST & NORTH AFRICA 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 7200 SOUTH AMERICA 0 0 PROGRAM SERVICES RESEARCH 7293 NORTH AMERICA 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 8012 SOUTH ASIA 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 8198 MIDDLE EAST & NORTH AFRICA 0 0 PROGRAM SERVICES RECRUITING 8745 NORTH AMERICA 0 0 PROGRAM SERVICES RECRUITING 9624 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD 12982 RUSSIA 0 0 PROGRAM SERVICES RESEARCH 27570 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 28222 NORTH AMERICA 0 0 PROGRAM SERVICES RESEARCH 28408 EUROPE 0 0 PROGRAM SERVICES RECRUITING 30754 EUROPE 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 53786 CENTRAL AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 84114 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES RECRUITING 89195 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES RESEARCH 106005 EUROPE 0 0 PROGRAM SERVICES RESEARCH 171553 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES RESEARCH 309271 EUROPE 0 0 PROGRAM SERVICES STUDY ABROAD 974594 0 0 0 0 0 0 157941 2176807 2334748 EUROPE RESEARCH 245280 WIRE SOUTH AMERICA RESEARCH 349662 WIRE EAST ASIA AND THE PACIFIC RESEARCH 47545 WIRE NORTH AMERICA RESEARCH 57223 WIRE SUB-SAHARAN AFRICA RESEARCH 54849 WIRE 10 1 SCHOLARSHIPS EAST ASIA AND THE PACIFIC 46 382500 CHECK SCHOLARSHIPS EUROPE 43 97250 CHECK SCHOLARSHIPS SUB-SAHARAN AFRICA 12 28500 CHECK SCHOLARSHIPS NORTH AMERICA 1 1000 CHECK SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 3 7000 CHECK SCHOLARSHIPS SOUTH AMERICA 5 7350 CHECK 1 0 0 1 1 0 PART I, LINE 2: THE PRINCIPAL INVESTIGATOR HAVING RESPONSIBILITY FOR THE GRANT MONITORS SUBCONTRACTOR PERFORMANCE BASED ON THE PROGRAM'S TASKS AND GOALS. THE PRINCIPAL INVESTIGATOR REVIEWS THE PERFORMANCE BEFORE AUTHORIZING THE SUBCONTRACTOR'S INVOICE FOR PAYMENT. 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THE PRINCIPAL INVESTIGATOR REVIEWS THE PERFORMANCE BEFORE AUTHORIZING THE SUBCONTRACTOR'S INVOICE FOR PAYMENT. X X X X X 0 1 X X X X X X 1 1 0 1 0 0 0 0 0 JOHN A FRY PRESIDENT 782273 0 220000 0 341080 0 312008 0 16071 0 1671432 0 0 0 MICHAEL J EXLER ESQ SECRETARY 410375 0 70000 0 0 0 29150 0 16541 0 526066 0 0 0 HELEN Y BOWMAN EXECUTIVE VP/TREASURER/COO 621151 0 125000 0 0 0 73850 0 16541 0 836542 0 0 0 DONNA MURASKO PHD DEAN, COLLEGE OF ARTS & SC 359632 0 0 0 0 0 29150 0 12924 0 401706 0 0 0 BRIAN T KEECH SVP GOVERNMENT & COMMUNITY 259639 0 50000 0 22658 0 23850 0 16541 0 372688 0 0 0 LORI N DOYLE SVP UNIVERSITY COMMUNICATI 335094 0 55000 0 0 0 28955 0 16509 0 435558 0 0 0 JOSEPH B HUGHES DEAN, COLLEGE OF ENGINEERI 352125 0 30000 0 0 0 29150 0 15234 0 426509 0 0 0 KEITH A ORRIS SVP CORPORATE RELATIONS & 362896 0 95000 0 0 0 29150 0 12924 0 499970 0 0 0 DANIEL V SCHIDLOW DEAN AND SVP, MEDICAL AFFA 643635 0 80000 0 3886 0 29150 0 1363 0 758034 0 0 0 SUSAN C ALDRIDGE SVP,ONLINE LEARNING & PRES 375065 0 100000 0 0 0 29150 0 8330 0 512545 0 0 0 RANDALL C DEIKE SVP, ENROLLMENT MGMT & STU 517239 0 150000 0 0 0 104150 0 6655 0 778044 0 0 0 M BRIAN BLAKE PROVOST & EXEC VP ACADEMIC 568688 0 115000 0 12000 0 23850 0 16541 0 736079 0 0 0 DAVID L UNRUH SVP, INSTITUTIONAL ADVANCE 459651 0 173000 0 0 0 63850 0 16541 0 713042 0 0 0 LYDIA KOMARNICKY-KOCHER PROFESSOR AND CHAIR OF RAD 508935 0 0 0 0 0 29150 0 15291 0 553376 0 0 0 JAMES FLINT ATHLETICS HEAD COACH 581183 0 0 0 421 0 29150 0 16071 0 626825 0 0 0 DAVID STEIN ASSOCIATE DEAN & COO, SURGERY CONTRO 627067 0 0 0 0 0 23850 0 16541 0 667458 0 0 0 JAMES REYNOLDS GASTROENTEROLGY 253943 0 0 0 323743 0 27885 0 8182 0 613753 0 0 0 RICARDO CRUCIANI ASSOCIATE PROFESSOR, PHARMACOLOGY & 585713 0 0 0 0 0 23000 0 10892 0 619605 0 0 0 MARK GREENBERG FORMER PROVOST AND SVP, AC 388374 0 0 0 0 0 29150 0 16541 0 434065 0 0 0 JAMES R TUCKER FORMER SVP ADMINISTRATIVE & BUSIN 0 0 0 0 191209 0 0 0 0 0 191209 0 0 0 JAMES HERBERT FORMER INTERIM PROVOST 396082 0 0 0 0 0 29150 0 16541 0 441773 0 0 0 PART I, LINE 1A UNIVERSITY POLICY AUTHORIZES BUSINESS OR FIRST-CLASS TRAVEL FOR ALL EMPLOYEES WHEN FLIGHTS EXCEED FIVE HOURS IN DURATION WITH THE APPROPRIATE APPROVAL IN ADVANCE. ON AN INFREQUENT BASIS, THE PRESIDENT'S SPOUSE MAY TRAVEL WITH THE PRESIDENT FOR BUSINESS REASONS WHEN FULFILLING OBLIGATIONS OF HER UNIVERSITY POSITION. THE PRESIDENT IS PROVIDED HOUSING AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE UNIVERSITY. PERSONAL SERVICES FOR MAID/CLEANING SERVICES ARE PROVIDED FOR THE HOUSE AS UNIVERSITY RELATED EVENTS AND ACTIVITIES ARE HELD AT THE RESIDENCE. THE PRESIDENT IS ALSO PROVIDED A DRIVER TO ATTEND UNIVERSITY RELATED EVENTS. THE PRESIDENT RECEIVES SOCIAL CLUB MEMBERSHIPS FOR BUSINESS-RELATED ACTIVITIES. SOCIAL CLUB DUES FOR BUSINESS-RELATED ACTIVITIES WERE PROVIDED FOR SENIOR VICE PRESIDENTS AND DEANS WHICH ARE TREATED AS NON-TAXABLE COMPENSATION. PART I, LINE 1B HOUSING ALLOWANCES AND SOCIAL CLUB MEMBERSHIPS WERE APPROVED BY THE PRESIDENT OR PROVOST. PART I, LINES 4A-B IN RECOGNITION OF AND CONSIDERATION FOR THE GOODS AND VALUABLE SERVICES MR. FRY HAS PROVIDED, AND WILL CONTINUE TO PROVIDE, TO THE UNIVERSITY DURING HIS EMPLOYMENT, THE UNIVERSITY AGREES TO PROVIDE MR. FRY WITH CERTAIN SUPPLEMENTAL RETIREMENT AND DEATH BENEFITS, EFFECTIVE AS OF JULY 1, 2012. MR. FRY'S ACCOUNT SHALL BE CREDITED WITH AN ALLOCATION BY THE UNIVERSITY IN THE FALL OF EACH YEAR (AND NOT LATER THAN DECEMBER 15), BEGINNING IN THE FALL OF 2013, AND ENDING IN THE FALL OF 2020, IN ACCORDANCE WITH THE FOLLOWING FORMULA. THE ALLOCATION FOR EACH YEAR SHALL BE CONDITIONED ON MR. FRY'S CONTINUED EMPLOYMENT THROUGH THE END OF THE FISCAL YEAR ENDING ON THE IMMEDIATELY PRECEDING JUNE 30 (OR UPON THE DATE OF DEATH, TOTAL DISABILITY, OR INVOLUNTARY TERMINATION, IF EARLIER). THE FORMULA IS 11% OF THE SUM OF MR. FRY'S PAID COMPENSATION (BASE SALARY AND ANNUAL PERFORMANCE BONUS (IF ANY)) FOR THE FISCAL YEAR ENDING ON THE IMMEDIATELY PRECEDING JUNE 30 THAT IS IN EXCESS OF THE COMPENSATION LIMIT UNDER SECTION 401(A)(17) OF THE INTERNAL REVENUE CODE AS IN EFFECT DURING SUCH PERIOD IN DETERMINING THE MAXIMUM COMPENSATION UNDER THE UNIVERSITY'S PENSION PLAN. JAMES TUCKER, FORMER SVP ADMINISTRATIVE & BUSINESS SERVICES, FOLLOWING THE DECEMBER 31, 2015 RETIREMENT DATE, MR. TUCKER RECEIVED AN ADDITIONAL SIX MONTH SEVERANCE PAYMENT IN THE AMOUNT OF $191,209. PART I, LINE 5 THE MEDICAL SCHOOL HAS AN INCENTIVE COMPENSATION PLAN DEVELOPED FOR THE BASIC SCIENCE DEPARTMENTS AND CLINICAL SCIENCE DEPARTMENTS. THE INCENTIVE PLAN THAT IS DEVELOPED FOR EACH DEPARTMENT IS BASED ON AN APPROVED BUDGET TARGET. IF THE DEPARTMENT MEETS THE APPROVED BUDGET TARGET (EITHER THROUGH ADDITIONAL REVENUE OR DECREASED EXPENSES), FOR EACH DOLLAR ABOVE BUDGET PERFORMANCE 50% IS ADDED TO THE DEPARTMENT'S INCENTIVE POOL. EACH DEPARTMENT DEVELOPS AN INDIVIDUALIZED INCENTIVE DISTRIBUTION PLAN FOR THEIR SPECIFIC DEPARTMENT (EACH DEPARTMENT CAN HAVE DIFFERENT CRITERIA). THESE PLANS CAN BE BASED ON DIFFERENT CRITERIA THAT COULD INCLUDE CLINICAL PRODUCTIVITY, RESEARCH PRODUCTIVITY, EDUCATIONAL ACTIVITY, PUBLICATIONS, ATTENDING MEETINGS, ETC. THE DEPARTMENTS CAN UTILIZE MULTIPLE CRITERIA OR JUST ONE IN DETERMINING HOW BONUSES FROM THE INCENTIVE POOL WILL BE AWARDED. THESE PLANS ARE SUBMITTED TO THE FINANCE DEPARTMENT AND THE DEAN OF THE COLLEGE FOR REVIEW AND APPROVAL FOR THE NEXT FISCAL YEAR AS PART OF THE DEPARTMENT'S ANNUAL BUDGET SUBMISSION. THE INCENTIVE COMPENSATION PLAN IS INTENDED TO INCENTIVIZE IMPROVEMENT IN BOTH INDIVIDUAL AND OVERALL DEPARTMENTAL PERFORMANCE AND TO PROMOTE THE COLLEGE'S LONG-TERM GOAL OF HAVING TOTAL FACULTY COMPENSATION (SALARY PLUS INCENTIVE BONUS) REACH THE 50TH PERCENTILE OF AMERICAN ASSOCIATION OF MEDICAL COLLEGES' ANNUAL FACULTY COMPENSATION SURVEY. AN INDIVIDUAL FACULTY MEMBER'S INCENTIVE BONUS IS DEVELOPED BY THE DEPARTMENT'S CHAIR. THE DEAN OF THE COLLEGE REVIEWS AND APPROVES EACH DEPARTMENT'S INCENTIVE PLAN AND ACTUAL INCENTIVE POOL DISTRIBUTIONS FOR EACH FACULTY MEMBER. ADMINISTRATIVE BONUSES FOR OFFICERS AND KEY EMPLOYEES OF THE MEDICAL SCHOOL ARE DEVELOPED SIMILAR TO THE INDIVIDUAL DEPARTMENT PLANS IN THAT THEY ARE SPECIFIC TO THE INDIVIDUAL AND CAN BE BASED ON MULTIPLE CRITERIA FOR THEIR SPECIFIC POSITION. THESE BONUSES ARE ESTABLISHED BY THE DEAN OF THE COLLEGE. SCHEDULE J, PART II: THE UNIVERSITY WILL PROVIDE JOHN FRY WITH DEFERRED COMPENSATION. THE UNIVERSITY SHALL CREDIT MR. FRY WITH $200,000 ON JUNE 30, 2016, AND ON EACH FOLLOWING JUNE 30 THROUGH 2020 WHILE HE REMAINS EMPLOYED BY THE UNIVERSITY AS PRESIDENT AND CHIEF EXECUTIVE OFFICER. THE AMOUNT SO CREDITED SHALL ALSO BE CREDITED WITH EARNINGS, GAINS, AND LOSSES BASED ON DEEMED INVESTMENT OPTIONS SELECTED IN ADVANCE BY MR. FRY, SHALL OCCUR ON JUNE 30, 2020, PROVIDED MR. FRY IS EMPLOYED BY THE UNIVERSITY ON THAT DATE. IN THE EVENT MR. FRY'S EMPLOYMENT WITH THE UNIVERSITY IS TERMINATED PRIOR TO JUNE 30, 2020 ON ACCOUNT OF DEATH, DISABILITY, NON-RENEWAL OF THIS AGREEMENT BY THE UNIVERSITY, OR TERMINATION OF HIS EMPLOYMENT BY THE UNIVERSITY OTHER THAN FOR CAUSE, OR HIS RESIGNATION FOR GOOD REASON, THE DEFERRED COMPENSATION, AS ADJUSTED FOR EARNINGS, GAINS AND LOSSES, SHALL BECOME VESTED AND PAYABLE UPON HIS TERMINATION OF EMPLOYMENT. IN THE EVENT MR. FRY VOLUNTARILY TERMINATES HIS EMPLOYMENT WITHOUT GOOD REASON WITH THE UNIVERSITY PRIOR TO JUNE 30, 2020, OR THE UNIVERSITY TERMINATES MR. FRY'S EMPLOYMENT FOR CAUSE, THE DEFERRED COMPENSATION SHALL BE FORFEITED. THE UNIVERSITY WILL PROVIDE RANDY DEIKE WITH A DEFERRED COMPENSATION ARRANGEMENT. ON EACH SEPTEMBER 1, BEGINNING SEPTEMBER 1, 2015, AND ENDING SEPTEMBER 1, 2019, THE UNIVERSITY WILL CREDIT $50,000 TO HIS ACCOUNT, PLUS INTEREST ACCRUED IF HE REMAINS EMPLOYED WITH THE UNIVERSITY. MR. DEIKE WILL BECOME FULLY VESTED IN THE BALANCE OF HIS ACCOUNT UPON THE EARLIEST OF THE FOLLOWING: (I) SEPTEMBER 1, 2019, (II) HIS INVOLUNTARY TERMINATION BY THE UNIVERSITY FOR ANY REASON OTHER THAN CAUSE, (III) DEATH, OR (IV) TERMINATION DUE TO TOTAL AND PERMANENT DISABILITY. IF MR. DEIKE RESIGNS OR IS TERMINATED BY THE UNIVERISTY FOR CAUSE BEFORE THE ACCOUNT IS VESTED, THE ENTIRE ACCOUNT WILL BE FORFEITED. THE UNIVERSITY WILL PROVIDE DAVID UNRUH WITH A DEFERRED COMPENSATION ARRANGEMENT. ON EACH JULY 1, BEGINNING JULY 1, 2015, AND ENDING JULY 1, 2019, THE UNIVERSITY WILL CREDIT $40,000 TO HIS ACCOUNT, PLUS INTEREST ACCRUED IF HE REMAINS EMPLOYED WITH THE UNIVERSITY. MR. UNRUH WILL BECOME FULLY VESTED IN THE BALANCE OF HIS ACCOUNT UPON THE EARLIEST OF THE FOLLOWING: (I) JULY 1, 2019, (II) HIS INVOLUNTARY TERMINATION BY THE UNIVERSITY FOR ANY REASON OTHER THAN CAUSE, (III) DEATH, OR (IV) TERMINATION DUE TO TOTAL AND PERMANENT DISABILITY. IF MR. UNRUH RESIGNS OR IS TERMINATED BY THE UNIVERSITY FOR CAUSE BEFORE THE ACCOUNT IS VESTED, THE ENTIRE ACCOUNT WILL BE FORFEITED. THE UNIVERSITY WILL PROVIDE HELEN BOWMAN WITH A DEFERRED COMPENSATION ARRANGEMENT. ON EACH SEPTEMBER 1, BEGINNING WITH SEPTEMBER 1, 2016 AND ENDING SEPTEMBER 1, 2020, THE UNIVERSITY WILL CREDIT $50,000 TO HER ACCOUNT, PLUS INTEREST ACCRUED IF SHE REMAINS EMPLOYED WITH THE UNIVERSITY. MS. BOWMAN WILL BECOME FULLY VESTED IN THE BALANCE OF HER ACCOUNT UPON THE EARLIEST OF THE FOLLOWING: (I) SEPTEMBER 1, 2020, (II) HER INVOLUNTARY TERMINATION BY THE UNIVERSITY FOR ANY REASON OTHER THAN CAUSE, (III) DEATH, OR (IV) TERMINATION DUE TO TOTAL AND PERMANENT DISABILITY. IF MS. BOWMAN RESIGNS OR IS TERMINATED BY THE UNIVERSITY FOR CAUSE BEFORE THE ACCOUNT IS VESTED, THE ENTIRE ACCOUNT WILL BE FORFEITED. A PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 2012 232243852 70917SCB7 2012-11-01 33242964 REFUNDING OF 2002 SERIES A AND SERIES 2003 0 0 0 B PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 2011A 232243852 70917RX75 2011-05-16 160304025 NEW CONSTR/BLDG RENOV/REFUNDING OF 1997, 1998, 1998-2, 2003B 0 0 0 C PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 2007B 232243852 70917RNP6 2007-10-04 30000000 SCIENCE BLDG/DORMITORY/WELLNESS CENTER 0 0 0 D PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 2007A 232243852 70917RMJ1 2007-10-04 96463410 SCIENCE BLDG/DORMITORY/WELLNESS CENTER 0 0 0 A 13800000 33242954 415332 32827632 2012 1 0 1 1 B 20250000 250000 161954495 1386270 101469764 2014 1 0 1 1 C 5110000 30572813 2700000 285425 11508 27483553 2012 0 0 1 1 D 98251163 9022947 835415 1529000 86701839 2012 0 0 1 1 A 0 1 1 1 0 0.00100 0.00400 0.00500 0 0 1 B 0 1 1 1 0 0.00000 0.00080 0.00080 0 0 1 C 0 1 1 1 1 0 0 0 1 D 0 0 0 1 0 0 0 1 A 0 0 1 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 1 0 0 0 1 D 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 D 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 2012 DATE THE REBATE COMPUTATION WAS PERFORMED: 06/05/2013 ISSUER NAME: PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 2011A DATE THE REBATE COMPUTATION WAS PERFORMED: 06/02/2014 ISSUER NAME: PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 2007B DATE THE REBATE COMPUTATION WAS PERFORMED: 08/16/2012 ISSUER NAME: PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 2005A&B DATE THE REBATE COMPUTATION WAS PERFORMED: 12/04/2017 SCHEDULE K SUPPLENTAL INFORMATION PART II, LINE 3, COLUMN A: THE TOTAL PROCEEDS EXCEED THE ISSUE PRICE BY THE INVESTMENT EARNINGS ON THE PROJECT FUND PART II, LINE 11, COLUMNS A & B: THE OTHER SPENT PROCEEDS ARE THE REFUNDING PROCEEDS OF THE ISSUE PART IV, LINE 2C, COLUMN A: THE FINAL REBATE REPORT WAS COMPLETED ON 6/7/2013 PART IV, LINE 2C, COLUMN B: THE FINAL REBATE REPORT WAS COMPLETED ON 6/5/2013, WHICH WAS DETERMINED THE ISSUE MET THE 6 MONTH SPENDING EXCEPTION PART IV, LINE 2C, COLUMN C: THE FINAL REBATE REPORT WAS COMPLETED ON 8/16/2012 PART IV, LINE 2C, COLUMN D: THE FINAL REBATE REPORT WAS COMPLETED ON 09/20/2010 PART II, LINE 3: THE TOTAL PROCEEDS EXCEED THE ISSUE PRICE BY THE INVESTMENT EARNINGS ON THE PROJECT FUND PART II, LINE 11, COLUMNS A & B: THE OTHER SPENT PROCEEDS ARE THE REFUNDING PROCEEDS OF THE ISSUE PART IV, LINE 2C, COLUMN A: A REBATE CALCULATION WAS PERFORMED AS OF 10/01/2015 PART IV, LINE 2C, COLUMN B: THE FINAL REBATE REPORT WAS PERFORMED AS OF 08/16/2012 A PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 2007 232243852 70917RMX0 2007-10-04 22869658 CAPITAL IMPROVEMENTS/REFUND TAXABLE LOAN 0 0 0 B PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 2005A&B 232243852 70917N3B8 2005-02-16 61312145 CAPITAL IMPROVEMENT/EQUIPMENT/ADV REFUNDING OF 1997/1999 BONDS 0 0 0 C PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 2005A&B 232243852 70917SXU2 2020-08-02 136019435 REFUNDING OF 2005A SERIES A AND SERIES 2003 0 0 0 A 23090222 1490863 1958579 372390 298000 9531086 8805026 2013 0 0 1 1 B 6165000 24490000 63310555 833218 879260 31998410 34167910 2012 0 1 1 1 C 136019435 962463 136952 2016 1 1 1 1 A 0 1 0 0 0 0 1 B 0 1 1 1 1 0 0.00100 0.00100 0.00200 0 0 1 C 0 1 1 0 0 0.00100 0.00400 0.00500 1 0 0 A 0 0 1 1 0 0 0 0 1 B 1 1 1 WELLS FARGO BANK 19.800000000000 0 0 1 ROYAL BANK OF CANADA 2.500000000000 1 1 1 C 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 PATRICIA RILEY FAMILY MEMBER OF TRUSTEE EXCESSIVE COMPENSATION(2010)(SEE PART V) 0 PATRICIA RILEY FAMILY MEMBER OF TRUSTEE EXCESSIVE COMPENSATION(2011)(SEE PART V) 0 19881 0 2000 DREXEL LEGACY SCHOLARSHIP EDUCATIONAL 9670 A.J. DREXEL SCHOLARSHIP EDUCATIONAL 21180 A.J. DREXEL SCHOLARSHIP EDUCATIONAL 2000 DRAGON ALUMNI SCHOLARSHIP EDUCATIONAL 6000 DREXEL LEGACY SCHOLARSHIP EDUCATIONAL 2000 TRUSTEE AWARD EDUCATIONAL 1170 A.J. DREXEL SCHOLARSHIP EDUCATIONAL 29694 TUITION REMISSION EDUCATIONAL 54505 TUITION REMISSION EDUCATIONAL PECO ENERGY COMPANY TRUSTEE 1338376 ELECTRICITY 0 CONSTELLATION NEWENERGY INC TRUSTEE 4869667 ELECTRICITY 0 NEWPORT CAPITAL GROUP LLC TRUSTEE 120999 CONSULTANT 0 DR MIMI B SHELLER FAMILY MEMBER OF TRUSTEE 114511 COMPENSATION 0 KIERA MURASKO-BLANK KEY EMPLOYEE 53924 COMPENSATION 0 PART I $79,524 EXCESSIVE COMPENSATION PAID BY COLLEGE OF MEDICINE DURING FISCAL YEARS ENDED JUNE 30, 2011 AND 2012. UNIVERSITY IS SEEKING REPAYMENT OF THE FUNDS. THE COLLEGE OF MEDICINE MERGED WITH THE UNIVERSITY IN 2014. X 1 33376 FAIR MARKET VALUE X 47 697402 FAIR MARKET VALUE 7 0 1 0 PART I, COLUMN (B): THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS IN COLUMN (B), NOT THE NUMBER OF ITEMS. FORM 990, PART V, LINES 7G & 7H: NOT APPLICABLE FORM 990, PART VI, SECTION A, LINE 2 THERE ARE SEVERAL TRUSTEES WHOM HAVE CONSULTING/BUSINESS RELATIONSHIPS WITH OTHER MEMBERS OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 5 IN 2014, THE DREXEL UNIVERSITY COLLEGE OF MEDICINE MERGED INTO DREXEL UNIVERSITY. IN 2017, THE UNIVERSITY LEARNED THAT FROM 2003 TO 2017, COMPENSATION WAS PAID TO AN INDIVIDUAL WHO, ALTHOUGH CLASSIFIED AS AN EMPLOYEE, PROVIDED NO SERVICES TO THE COLLEGE OF MEDICINE OR, AFTER THE MERGER IN 2014, TO THE UNIVERSITY. COMPENSATION PAID FOR WHICH NO SERVICES WERE PROVIDED TOTALED $828,676.98 OVER THE 14-YEAR PERIOD. THE UNIVERSITY TERMINATED THE INDIVIDUAL AFTER LEARNING OF THE DIVERSION AND IS SEEKING REPAYMENT. KEY PERSONS BELIEVED TO HAVE RELEVANT INFORMATION ABOUT THIS ISOLATED INCIDENT HAVE SINCE PASSED AWAY OR ARE NO LONGER ASSOCIATED WITH THE UNIVERSITY. THE UNIVERSITY HAS WORKED WITH OUTSIDE COUNSEL AND AN EXTERNAL AUDIT FIRM TO DEVELOP AND IMPLEMENT A CORRECTIVE ACTION PLAN TO ENSURE THAT SUCH AN INCIDENT WILL NOT RECUR IN THE FUTURE. AMONG OTHER THINGS, THE CORRECTIVE ACTION PLAN REQUIRES A COMPLETE ASSESSMENT OF THE UNIVERSITY'S CURRENT EMPLOYEE ROLL, TRAINING PROGRAMS FOR SUPERVISORS, AND AN ANNUAL SUPERVISOR'S CERTIFICATION AS TO THE VALID EMPLOYMENT STATUS OF EACH EMPLOYEE. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED BY THE TAX OFFICE AND SUBMITTED TO THE EXECUTIVE VICE PRESIDENT, TREASURER AND CHIEF OPERATING OFFICER FOR REVIEW AND SIGNING. PRIOR TO FILING, FORM 990 AND ALL REQUIRED SCHEDULES ULTIMATELY FILED WITH THE INTERNAL REVENUE SERVICE WERE AVAILABLE TO EACH MEMBER OF THE BOARD OF TRUSTEES FOR THEIR REVIEW AND COMMENT. FORM 990, PART VI, SECTION B, LINE 12C DREXEL UNIVERSITY'S CONFLICT OF INTEREST POLICY APPLIES TO ALL EMPLOYEES (WHETHER A KEY EMPLOYEE OR NOT), OFFICERS, AND TRUSTEES OF THE UNIVERSITY. THE CONFLICT OF INTEREST POLICY IS INTENDED TO SATISFY COMPLIANCE REQUIREMENTS AND GUIDE UNIVERSITY PERSONNEL IN AVOIDING THOSE SITUATIONS THAT CAN RESULT IN A CONFLICT OF INTEREST OR COMMITMENT. THE KEY TO AVOIDING THOSE SITUATIONS THAT CAN RESULT IN A CONFLICT OF INTEREST OR COMMITMENT IS TO MAKE CONSTITUENTS AWARE OF WHAT CONSTITUTES A CONFLICT OF INTEREST AND FOR THEM TO DISCLOSE POTENTIAL SITUATIONS BEFORE THE ACTIVITY IS UNDERTAKEN. THE FORMAT FOR THE DISCLOSURE IS FOR EACH EMPLOYEE, OFFICER OR TRUSTEE TO COMPLETE A QUESTIONNAIRE ANNUALLY. THE COMPLETED QUESTIONNAIRE IS SUBMITTED TO THE HUMAN RESOURCES DEPARTMENT IN THE CASE OF EMPLOYEES REVIEWED AS REQUIRED BY THE COMPLIANCE, PRIVACY AND INTERNAL AUDIT OFFICER. COMPLETED QUESTIONNAIRES FOR OFFICERS AND TRUSTEES ARE SUBMITTED DIRECTLY TO THE OFFICE OF THE GENERAL COUNSEL FOR REVIEW. AFTER REVIEW A DETERMINATION IS MADE AS TO WHETHER A CONFLICT OF INTEREST EXISTS AND AT WHAT LEVEL. THOSE EMPLOYEE CONFLICTS THAT ARE DETERMINED TO BE DETRIMENTAL TO THE UNIVERSITY ARE DISCUSSED WITH THE EMPLOYEE AND THE EMPLOYEE IS ENCOURAGED TO TERMINATE THE ACTIVITY. EMPLOYEES WHO WILLINGLY OR OTHERWISE CONTINUE TO VIOLATE THE CONFLICT OF INTEREST POLICY ARE SUBJECT TO DISCIPLINARY ACTION UP TO AND INCLUDING SUSPENSION WITHOUT PAY, DEMOTION OR TERMINATION OF EMPLOYMENT. IN THE CASE OF TRUSTEES, A CONFLICT OF INTEREST QUESTIONNAIRE IS MAILED ANNUALLY. TRUSTEES ARE REQUIRED TO COMPLETE THE QUESTIONNAIRE AND DISCLOSE ANY INTERESTS IN ANY CORPORATION, PARTNERSHIP OR OTHER ORGANIZATION IN WHICH THEY OWN OR CONTROL 5% OR MORE OF THE ENTITY. IT IS THE POLICY OF THE UNIVERSITY NOT TO CONTRACT WITH OR ENTER INTO A COMMERCIAL RELATIONSHIP WITH ANY TRUSTEE OR CORPORATION, PARTNERSHIP, PROPRIETORSHIP OR OTHER ORGANIZATION IN WHICH SUCH TRUSTEE HAS AN INTEREST AS AN OFFICER, DIRECTOR, PARTNER, EMPLOYEE, OWNER, OR CONTROLLING STOCKHOLDER. FORM 990, PART VI, SECTION B, LINE 15 DREXEL IS COMMITTED TO COMPENSATING ITS EXECUTIVE TEAM AT A FAIR AND COMPETITIVE LEVEL. TO MEET THIS GOAL, DREXEL UNIVERSITY'S HUMAN RESOURCES DEPARTMENT PREPARES AN EXECUTIVE COMPENSATION ANALYSIS ANNUALLY USING THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION OF HUMAN RESOURCES (CUPA) SURVEY AND IRS FORM 990 INFORMATION AS THEY RELATE TO THE UNIVERSITY'S PEER GROUPS. POSITIONS INCLUDED IN THE ANALYSIS WERE THE PRESIDENT, EXECUTIVE VICE PRESIDENTS, SENIOR VICE PRESIDENTS, AND HIGHLY-COMPENSATED DEANS. USING THE EXECUTIVE COMPENSATION ANALYSIS, A THIRD-PARTY ADVISOR PREPARED A REPORT AND SUBMITTED THE REPORT TO THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES (THE "COMMITTEE") ALONG WITH CERTAIN PERFORMANCE CRITERIA. THE COMPENSATION ANALYSIS SERVED AS THE BASIS FOR THE PRESIDENT'S RECOMMENDATIONS FOR UNIVERSITY EXECUTIVES. THE THIRD-PARTY ADVISOR PROVIDED THE COMMITTEE WITH A LETTER ON THE APPROPRIATENESS OF THE DECISION-MAKING PROCESS AND REASONABLENESS OF THE PROPOSED COMPENSATION. ALL COMPENSATION WAS APPROVED BY THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES PRIOR TO BECOMING EFFECTIVE ON JULY 1, 2017. FORM 990, PART VI, SECTION C, LINE 19 DREXEL UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC IN A VARIETY OF WAYS. THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE ON ITS WEBSITE, AND ITS GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES HAS RESPONSIBILITY FOR SELECTING THE INDEPENDENT ACCOUNTANT AND OVERSEEING THE AUDIT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. PART VI, SECTION B, LINE 16B THE UNIVERSITY IMPLEMENTED A WRITTEN PROCEDURE, WHICH WAS APPROVED BY THE PRESIDENT'S CABINET, FOR EVALUATION OF JOINT VENTURE ARRANGEMENTS TO ENSURE THAT SUCH ARRANGEMENTS ARE CONSISTENT WITH THE UNIVERSITY'S TAX-EXEMPT PURPOSE. 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