2017-05-15T10:15:05-05:00 2016-06-30 990 2015-07-01 231352630 DREXEL UNIVERSITY DREX 2158952000 3201 ARCH STREET NO 420 PHILADELPHIA PA 191042875 HELEN Y BOWMAN EXECUTIVE VP, TREASURER & COO 2158952803 2017-05-12 2015 2021-01-29 14:40:06Z JOHN A FRY 3141 CHESTNUT ST PHILADELPIA PA 19104 1356405948 0 X WWW.DREXEL.EDU X 1894 PA INTEGRATED ACADEMIC OFFERINGS ENHANCED BY TECHNOLOGY, COOPERATIVE EDUCATION AND CLINICAL PRACTICE 49 42 12947 2180 6476481 2446445 167363697 180378244 1050285256 1086337623 28667487 2950566 24520026 27489353 1270836466 1297155786 285457513 325211032 0 0 604125531 626572748 187686 250152 15202917 309535474 320597181 1199306204 1272631113 71530262 24524673 1943620563 1986733444 827926902 849689263 1115693661 1137044181 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 850667893 312334115 959363251 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 16 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 HOSPITALITY AND SPORT 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 2015-2016 = 16,464GRADUATE AND PROFESSIONAL ENROLLMENT FOR ACADEMIC YEAR 2015-2016 = 8,733 NUMBER OF DEGREES CONFERRED IN ACADEMIC YEAR 2015-2016: ASSOCIATE DEGREES = 29 BACHELOR'S DEGREES = 3,657 MASTER'S DEGREES = 2,445 DOCTORAL DEGREES = 702 CERTIFICATES AND OTHER = 350 119304466 12876917 22757732 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. THE UNIVERSITY'S RESEARCH ENTERPRISE CONTINUES TO GROW AND ATTRACT INCREASING EXTRAMURAL SUPPORT, INCLUDING SPONSORED RESEARCH FUNDING OF $109 MILLION IN FY2016. DREXEL HAS DEEP EXPERTISE IN TRANSLATIONAL RESEARCH, WHICH IS RIGOROUS ACADEMIC WORK THAT TANGIBLY TRANSLATES INTO INTELLECTUAL PROGRESS AND SOCIAL GOOD. RANKED NUMBER 49 AMONG UNIVERSITIES WORLDWIDE FOR THE NUMBER OF U.S. PATENTS ISSUED IN 2016, ACCORDING TO THE METHODOLOGY OF THE INTELLECTUAL PROPERTY OWNERS ASSOCIATION, DREXEL STRIVES TO CREATE COMMERCIAL TECHNOLOGIES THAT POSITIVELY IMPACT HEALTH AND QUALITY OF LIFE.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 FY16, DREXEL UNIVERSITY CONDUCTED RESEARCH ON THE FOLLOWING RESEARCH GRANTS:FEDERALLY SPONSORED RESEARCH - 901 GRANTSSTATE OF PENNSYLVANIA SPONSORED RESEARCH - 82 GRANTSCITY OF PHILADELPHIA CONTRACTS - 28 GRANTSPRIVATE FOUNDATION SPONSORED RESEARCH - 316 GRANTSINDUSTRY SPONSORED RESEARCH - 176 GRANTS 130030511 0 101526308 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. 1100002870 1 1 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 0 1 1 0 1 1 1 1 0 0 1 1 1 1 0 0 1 X 32103 0 1 12947 1 1 1 1 EK 0 0 0 1 1 0 0 0 0 X 49 42 1 0 0 0 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 2.00 X 0 0 0 RICHARD A GREENAWALT CHAIRMAN 2.00 X X 0 0 0 RICHARD A HAYNE VICE CHAIR 2.00 X X 0 0 0 NINA HENDERSON TRUSTEE 2.00 X 0 0 0 PATRICIA H IMBESI TRUSTEE 2.00 X 0 0 0 JOSEPH H JACOVINI ESQ TRUSTEE 2.00 X 0 0 0 J MICHAEL LAWRIE TRUSTEE 2.00 X 0 0 0 ROBERT J MONGELUZZI TRUSTEE 2.00 X 0 0 0 DENIS P O'BRIEN TRUSTEE 2.00 X 0 0 0 D HOWARD PIERCE TRUSTEE 2.00 X 0 0 0 CHARLES P PIZZI TRUSTEE 2.00 X 0 0 0 WILLIAM T SCHLEYER TRUSTEE 2.00 X 0 0 0 STEPHEN A SHELLER ESQ TRUSTEE 2.00 X 0 0 0 STANLEY W SILVERMAN VICE CHAIR 2.00 X X 0 0 0 MANUEL N STAMATAKIS TRUSTEE 2.00 X 0 0 0 CHARLES K VALUTAS TRUSTEE 2.00 X 0 0 0 CELESTINO R PENNONI TRUSTEE 2.00 X 0 0 0 JEFFREY A BEACHELL TRUSTEE 2.00 X 0 0 0 JAMES BEAN TRUSTEE 2.00 X 0 0 0 THOMAS A CARAMANICO TRUSTEE 2.00 X 0 0 0 ANTHONY M NOCE TRUSTEE 2.00 X 0 0 0 JOHN A FRY PRESIDENT 40.00 X X 1899337 0 327501 RAPHAEL C LEE TRUSTEE 2.00 X 0 0 0 JOSEPH P UJOBAI TRUSTEE 2.00 X 0 0 0 SALLY J BELLET TRUSTEE 2.00 X 0 0 0 GREGORY S BENTLEY TRUSTEE 2.00 X 0 0 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DEVELOPMENT 40.00 X 349747 0 41474 DANIEL V SCHIDLOW DEAN AND SVP, MEDICAL AFFAIRS, COLLEGE OF MEDICINE 40.00 X 709528 0 30463 JAMES HERBERT 712015-7312015 INTERIM PROVOST 40.00 X 418151 0 44918 SUSAN C ALDRIDGE SVP,ONLINE LEARNING & PRESIDENT,DUO 40.00 X 486140 0 37056 RANDALL C DEIKE SVP, ENROLLMENT MGMT & STUDENT SUCCESS 40.00 X 502155 0 60590 M BRIAN BLAKE 8115-PRESENT PROVOST & EXEC VP ACADEMIC AFFAIRS 40.00 X 367654 0 23762 DAVID L UNRUH SVP, INSTITUTIONAL ADVANCEMENT 40.00 X 446532 0 79618 D SCOTT LIND CHAIRMAN OF THE DEPARTMENT OF SURGERY 40.00 X 997233 0 42512 LYDIA KOMARNICKY-KOCHER PROFESSOR AND CHAIR OF RADIATION ONCOLOGY 40.00 X 509869 0 43727 GLENN LAUB CHAIRMAN OF CARDIOTHORACIC CONTROL 40.00 X 629164 0 44918 JAMES FLINT ATHLETICS HEAD COACH 40.00 X 546236 0 44918 JOHN BIELEC VP, INFORMATION RESOURCES & TECHNOLOGY 40.00 X 560636 0 3161 MARK GREENBERG FORMER PROVOST AND SVP, ACADEMIC AFFAIRS 40.00 X 462587 0 44918 PETER FRISKO FORMER INTERIM SVP, INSTITUTIONAL ADVANCEMENT 40.00 X 438172 0 16366 12769955 0 1167265 1185 1 1 0 BITTENBENDER CONSTRUCTION LP 5 N COLUMBUS BLVD PHILADELPHIA PA 19106 CONSTRUCTION SERVICES 10081845 SODEXO SERVICES 203 N 34TH STREET PHILADELPHIA PA 19104 FOOD SERVICES 9358018 ALLIED BARTON SECURITY SERVICES PO BOX 828854 KING OF PRUSSIA PA 19406 SECURITY SERVICES 5955061 SODEXOMAGIC LLC 9801 WASHINGTONIAN BLVD GAITHERSBURG MD 20878 FOOD SERVICES 4958556 GILBANE BUILDING COMPANY 100 E PENN SQ UNIT 1040 PHILADELPHIA PA 19107 CONSTRUCTION SERVICES 4954640 299 649201 5591666 98364198 75773179 943403 180378244 TUITION AND FEES 900099 888638624 867401956 21236668 PATIENT CARE 621110 99788711 99788711 AUXILIARY ENTERPRISES 611710 73466428 73466428 OTHER PROGRAM SERVICES 611710 24443860 24443860 1086337623 4201430 4201430 442562 442562 2493483 213618 2279865 2279865 2279865 57316865 58567729 -1250864 -1250864 -1250864 212924 649201 468815 -255891 -255891 MISCELLANEOUS REVENUE 900099 21436100 18546336 2889764 APPLICATION SERVICE PROGRAM 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7996998 3888433 464293 1272631113 1100002870 157425326 15202917 57212 56887 83963502 116471875 131810163 157015426 106876041 97763900 36000 18000 14585708 13333014 1343624272 454894694 858150590 888729578 582371809 400500568 109456000 264836374 35482116 31026130 20831422 16981692 1943620563 1986733444 217907696 234030800 118264969 135836702 439121189 427653123 52633048 52168638 827926902 849689263 X 810582374 611575611 170777055 225590231 134334232 299878339 1115693661 1137044181 1943620563 1986733444 X 24524673 -12996328 9822175 X X 0 1 X 1 1 1 X 137370616 127243677 114184550 167363697 180378244 726540784 137370616 127243677 114184550 167363697 180378244 726540784 63813792 662726992 13009359 49791098 76870624 29299768 7137475 176108324 2521250 1586436 2533206 2917742 2447445 12006079 914655187 4436285905 0.72460 0.73780 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 1 180058 0 0 1 488679 0 0 668737 0 PART II-B, LINE 1: LINE A - VOLUNTEERS: DREXEL UNIVERSITY HAS USED VOLUNTEERS TO HELP GET OUR MESSAGE TO ELECTED OFFICIALS. STUDENT VOLUNTEERS PARTICIPATE IN ACTIVITIES SUCH AS STUDENT LOBBYING DAY, SPONSORED BY THE ASSOCIATION FOR INDEPENDENT COLLEGES AND UNIVERSITIES, DURING WHICH STUDENTS TRAVEL TO HARRISBURG TO MEET THEIR ELECTED OFFICIALS. THIS PROGRAM 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 RATHER THAN 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. 0 0 0 0 0 0 0 0 1 1 11029587 X X X X 0 585577000 39641291 -13919159 6040655 16152402 589106075 421686000 172402000 14441000 5726137 17225863 585577000 390238000 -7443000 56103000 4458144 12753856 421686000 364097000 13767000 28541000 4427242 11739758 390238000 382586000 4517000 1307000 4420686 19892314 364097000 0.36580 0.45260 0.18160 0 0 101329323 101329323 955720296 263472577 692247719 66414870 37484442 28930428 143558698 99446266 44112432 76601085 54491409 22109676 888729578 ALTERNATIVE INVESTMENTS 108772242 F REAL ESTATE & REAL ASSETS 156064132 F 264836374 DEPOSITS 19353511 GOVERNMENT ADVANCES FOR STUDENT LOANS 29359615 CAPITAL LEASE, ARMORY 2740554 INTERCOMPANY PAYABLE 714958 52168638 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. THERE ARE ALSO A FEW AMERICAN 19TH CENTURY LANDSCAPE PAINTINGS AND COMMISSIONED PORTRAITS OF LEADERS FROM THE MEDICAL COLLEGE OF PENNSYLVANIA AND HAHNEMANN HOSPITAL AS WELL AS CURRENT DREXEL LEADERS. 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 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 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. NO PROVISION FOR INCOME TAXES IS REQUIRED IN THE UNIVERSITY FINANCIAL STATEMENTS. THE UNIVERSITY FILES U.S. FEDERAL, STATE AND LOCAL INFORMATION 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") 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 EUROPE 0 0 PROGRAM SERVICES ATHLETICS 33895 NORTH AMERICA 0 0 PROGRAM SERVICES ATHLETICS 3180 EUROPE 0 0 FUNDRAISING 470 EAST ASIA AND THE PACIFIC 0 0 FUNDRAISING 51713 SOUTH ASIA 0 0 FUNDRAISING 5058 SOUTH ASIA 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 600 EUROPE 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 45122 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 20511 SOUTH AMERICA 0 0 BUSINESS 3464 SUB-SAHARAN AFRICA 0 0 BUSINESS 1158 CENTRAL AMERICA 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 2193 RUSSIA 0 0 FUNDRAISING 1000 MIDDLE EAST & NORTH AFRICA 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 35774 SOUTH ASIA 0 0 PROGRAM SERVICES RECRUITING 26894 EUROPE 0 0 PROGRAM SERVICES RECRUITING 30438 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES RECRUITING 120352 SOUTH AMERICA 0 0 PROGRAM SERVICES RECRUITING 10506 NORTH AMERICA 0 0 PROGRAM SERVICES RECRUITING 3247 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES RECRUITING 7299 CENTRAL AMERICA 0 0 PROGRAM SERVICES RECRUITING 1515 MIDDLE EAST & NORTH AFRICA 0 0 PROGRAM SERVICES RECRUITING 411 SOUTH ASIA 0 0 PROGRAM SERVICES RESEARCH 5818 EUROPE 0 0 PROGRAM SERVICES RESEARCH 245583 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES RESEARCH 482847 SOUTH AMERICA 0 0 PROGRAM SERVICES RESEARCH 10262 NORTH AMERICA 0 0 PROGRAM SERVICES RESEARCH 64135 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES RESEARCH 419137 CENTRAL AMERICA 0 0 PROGRAM SERVICES RESEARCH 7459 MIDDLE EAST & NORTH AFRICA 0 0 PROGRAM SERVICES RESEARCH 10089 EUROPE 0 0 PROGRAM SERVICES STUDY ABROAD 548406 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD 24640 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES ATHLETICS 377 CENTRAL AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 173012 NORTH AMERICA 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 221533 RUSSIA 0 0 PROGRAM SERVICES RECRUITING 4200 NORTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 110591 SOUTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 880 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD 26 CENTRAL AMERICA 0 0 PROGRAM SERVICES ATHLETICS 24139 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES ATHLETICS 76 NORTH AMERICA 0 0 FUNDRAISING 28 CENTRAL AMERICA 0 0 FUNDRAISING 681 MIDDLE EAST AND NORTH AFRICA 0 0 FUNDRAISING 396 RUSSIA 0 0 PROGRAM SERVICES RESEARCH 13630 SOUTH ASIA 0 0 PROGRAM SERVICES STUDY ABROAD 2067 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD 369 SOUTH ASIA 0 0 BUSINESS 2908 EUROPE 0 0 BUSINESS 125735 EAST ASIA AND THE PACIFIC 0 0 BUSINESS 49509 NORTH AMERICA 0 0 BUSINESS 39712 CENTRAL AMERICA 0 0 BUSINESS 2804 MIDDLE EAST AND NORTH AFRICA 0 0 BUSINESS 7829 0 0 0 0 0 0 160549 2843129 3003678 EUROPE RESEARCH 92252 WIRE 0 MIDDLE EAST AND NORTH AFRICA RESEARCH 20094 WIRE 0 SOUTH ASIA RESEARCH 46127 WIRE 0 EAST ASIA AND THE PACIFIC RESEARCH 127108 WIRE/CHECK 0 NORTH AMERICA RESEARCH 24865 CHECK 0 SUB-SAHARAN AFRICA RESEARCH 73276 WIRE 0 9 2 SCHOLARSHIPS EAST ASIA AND THE PACIFIC 45 357750 CHECK SCHOLARSHIPS EUROPE 27 72250 CHECK SCHOLARSHIPS SUB-SAHARAN AFRICA 13 33250 CHECK SCHOLARSHIPS NORTH AMERICA 1 1000 CHECK SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 2 2500 CHECK SCHOLARSHIPS SOUTH ASIA 2 5000 CHECK SCHOLARSHIPS MIDDLE EAST AND NORTH AFRICA 2 7500 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. X X X X X X X 1 RUFFALO NOEL LEVITZ 1025 KIRKWOOD PARKWAY SW CEDAR RAPIDS IA 52404 PHONE SOLICITATION PROGRAM 0 240183 250152 -9969 240183 250152 -9969 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY IWHL - WOMEN ONE EVENT 206656 190451 16205 8983 1416 47718 BUSINESS LEADER LUNCH 2016 254200 233675 20525 54723 20350 5877 10 401268 225074 176194 9065 115881 36937 17957 149908 862124 649200 212924 9065 179587 38353 38307 203503 468815 -255891 1 ALBERT EINSTEIN HEALTHCARE NETWORK 5501 OLD YORK RD PHILADELPHIA PA 19141 232290323 501(C)(3) 187952 RESEARCH CASE WESTERN RESERVE UNIVERSITY 10900 EUCLID AVENUE CLEVELAND OH 441067006 341018992 501(C)(3) 122903 RESEARCH CHEYNEY UNIVERSITY 1837 UNIVERSITY CIRCLE CHEYNEY PA 19319 232478688 501(C)(3) 40733 RESEARCH CHILDRENS HOSPITAL OF PHILADELPHIA 34TH STREET CIVIC CENTER BLVD PHILADELPHIA PA 19104 231352166 501(C)(3) 192064 RESEARCH COALITION OF 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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 758207 0 240000 0 901130 0 312924 0 14577 0 2226838 0 425150 0 MICHAEL J EXLER ESQ SECRETARY 355117 0 70000 0 0 0 29150 0 15768 0 470035 0 0 0 HELEN Y BOWMAN EXECUTIVE VP/TREASURER/COO 571102 0 125000 0 0 0 23850 0 15768 0 735720 0 0 0 JAMES R TUCKER SVP ADMINISTRATIVE & BUSINESS SERVIC 387164 0 80000 0 476474 0 29150 0 696 0 973484 0 0 0 DONNA MURASKO PHD DEAN, COLLEGE OF ARTS & SCIENCES 351956 0 0 0 676 0 29150 0 12324 0 394106 0 0 0 BRIAN T KEECH SVP GOVERNMENT & COMMUNITY RELATIONS 249872 0 40000 0 25180 0 23850 0 15760 0 354662 0 0 0 LORI N DOYLE SVP UNIVERSITY COMMUNICATIONS 328695 0 0 0 9281 0 26490 0 15736 0 380202 0 0 0 JOSEPH B HUGHES DEAN, COLLEGE OF ENGINEERING 346297 0 30000 0 0 0 29150 0 14521 0 419968 0 0 0 KEITH A ORRIS SVP CORPORATE RELATIONS & ECONOMIC D 349052 0 0 0 695 0 29150 0 12324 0 391221 0 0 0 DANIEL V SCHIDLOW DEAN AND SVP, MEDICAL AFFAIRS, COLLE 620502 0 80000 0 9026 0 29150 0 1313 0 739991 0 0 0 JAMES HERBERT 712015-7312015 INTERIM PROVOST 338151 0 80000 0 0 0 29150 0 15768 0 463069 0 0 0 SUSAN C ALDRIDGE SVP,ONLINE LEARNING & PRESIDENT,DUO 361140 0 125000 0 0 0 29150 0 7906 0 523196 0 0 0 RANDALL C DEIKE SVP, ENROLLMENT MGMT & STUDENT SUCCE 502155 0 0 0 0 0 54150 0 6440 0 562745 0 0 0 M BRIAN BLAKE 8115-PRESENT PROVOST & EXEC VP ACADEMIC AFFAIRS 236835 0 57500 0 73319 0 17250 0 6512 0 391416 0 0 0 DAVID L UNRUH SVP, INSTITUTIONAL ADVANCEMENT 446532 0 0 0 0 0 63850 0 15768 0 526150 0 0 0 D SCOTT LIND CHAIRMAN OF THE DEPARTMENT OF SURGER 437233 0 0 0 560000 0 29150 0 13362 0 1039745 0 0 0 LYDIA KOMARNICKY-KOCHER PROFESSOR AND CHAIR OF RADIATION ONC 509869 0 0 0 0 0 29150 0 14577 0 553596 0 0 0 GLENN LAUB CHAIRMAN OF CARDIOTHORACIC CONTROL 629164 0 0 0 0 0 29150 0 15768 0 674082 0 0 0 JAMES FLINT ATHLETICS HEAD COACH 544926 0 0 0 1310 0 29150 0 15768 0 591154 0 0 0 JOHN BIELEC VP, INFORMATION RESOURCES & TECHNOLO 124753 0 0 0 435883 0 3056 0 105 0 563797 0 0 0 MARK GREENBERG FORMER PROVOST AND SVP, ACADEMIC AFF 462587 0 0 0 0 0 29150 0 15768 0 507505 0 0 0 PETER FRISKO FORMER INTERIM SVP, INSTITUTIONAL AD 135801 0 0 0 302371 0 12413 0 3953 0 454538 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. PETER FRISKO, SVP INSTITUTIONAL ADVANCEMENT, AND DREXEL UNIVERSITY AGREED THAT MR. FRISKO'S EMPLOYMENT WITH THE UNIVERSITY ENDED EFFECTIVE AS OF THE CLOSE OF BUSINESS ON JUNE 30, 2015. MR. FRISKO WAS PAID FOR ALL WORK PERFORMED UP THROUGH THE SEPARATION DATE AS WELL AS RECEIVED PAYMENT OF ANY ACCRUED BUT UNUSED VACATION DAYS IN ACCORDANCE WITH THE UNIVERSITY'S POLICY. IN ADDITION, A ONE-TIME LUMP SUM PAYMENT IN THE TOTAL GROSS AMOUNT OF $275,847 WILL BE MADE ON OR AFTER THE 8TH DAY FROM THE SEPARATION DATE. JAMES TUCKER, SVP ADMINISTRATIVE & BUSINESS SERVICES, AND DREXEL UNIVERSITY AGREED THAT MR. TUCKER'S EMPLOYMENT WITH THE UNIVERSITY ENDED EFFECTIVE AS OF THE CLOSE OF BUSINESS ON DECEMBER 31, 2015. MR. TUCKER WAS PAID FOR ALL WORK PERFORMED UP THROUGH THE SEPARATION DATE AS WELL AS RECEIVE PAYMENT OF ANY ACCRUED BUT UNUSED VACATION DAYS IN ACCORDANCE WITH THE UNIVERSITY'S POLICY. MR. TUCKER WAS PROVIDED WITH A TWELVE MONTH SEVERANCE PAYMENT IN THE TOTAL GROSS ANNUALIZED AMOUNT OF $382,418 PAYABLE ON JUNE 30, 2015. FOLLOWING THE DECEMBER 31, 2015 RETIREMENT DATE, MR. TUCKER RECEIVED AN ADDITIONAL SIX MONTH SEVERANCE PAYMENT IN THE AMOUNT OF $191,209 AND SICK LEAVE BALANCE UP TO 35 DAYS, PAYABLE ON JANUARY 31, 2016. ON NOVEMBER 11, 2015, DR. DAVID SCOTT LIND, MD RESIGNED FROM HIS POSITION AS PROFESSOR AND CHAIR OF THE DEPARTMENT OF SURGERY. A SEPARATION AGREEMENT WAS MADE BETWEEN DR. LIND AND THE UNIVERSITY AND A CHECK REPRESENTING LOST WAGES IN THE GROSS AMOUNT OF $560,000 WAS MADE PAYABLE TO DR. LIND WITHIN 20 DAYS AFTER THE EXPIRATION OF THE REVOCATION PERIOD. JOHN BIELEC, VP INFORMATION RESOURCES & TECHNOLOGY, AND DREXEL UNIVERSITY AGREED THAT MR. BIELEC'S EMPLOYMENT WITH THE UNIVERSITY ENDED EFFECTIVE AS OF THE CLOSE OF BUSINESS ON JANUARY 31, 2015. MR. BIELEC WAS PAID FOR ALL WORK PERFORMED UP THROUGH THE SEPARATION DATE AS WELL AS RECEIVE PAYMENT OF ANY ACCRUED BUT UNUSED VACATION DAYS IN ACCORDANCE WITH THE UNIVERSITY'S POLICY. MR. BIELEC WAS PROVIDED WITH A SEVERANCE PAYMENT IN THE TOTAL GROSS AMOUNT OF $333,399 PAYABLE ON OR AFTER THE 8TH DAY FROM THE RETIREMENT DATE. A LUMP SUM PAYMENT IN THE AMOUNT OF $25,544 WAS ALSO PAID TO MR. BIELEC. MARK GREENBERG RESIGNED FROM HIS POSITION AS SVP AND PROVOST AND BEGAN A (1)-YEAR SABBATICAL ON SEPTEMBER 1, 2014. MR. GREENBERG CONTINUED TO RECEIVE HIS FULL FY14 SALARY PLUS FY15 MERIT INCREASE THROUGH THE END OF THE (1)-YEAR SABBATICAL LEAVE. MR. GREENBERG RETURNED ON SEPTEMBER 1, 2015 AS A MEMBER OF THE FACULTY AND GIVEN THE TITLE PROVOST EMERITUS AND DISTINGUISHED UNIVERSITY PROFESSOR. 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 PAID JOHN FRY DEFERRED COMPENSATION OF $542,454 ON AUGUST 1, 2015, PER A DEFERRED COMPENSATION AGREEMENT THAT BEGAN ON JULY 31, 2011. MR. FRY HAD BEEN CREDITED $100,000 ON JULY 31, 2011 AND ON EACH FOLLOWING JULY 31 THROUGH 2015. IN ADDITION, THE DEFERRED COMPENSATION WAS CREDITED WITH EARNINGS BASED ON INVESTMENT OPTIONS SELECTED BY MR. FRY. MR. FRY BECAME FULLY VESTED IN THE DEFERRED COMPENSATION ON JULY 31, 2015 AND PAYMENT WAS MADE PER THE AGREEMENT. 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 $25,000, PLUS INTEREST ACCRUED IF HE REMAINS EMPLOYED WITH THE UNIVERSITY. MR. DEIKE WILL BECOME FULLY VESTED IN THE BALANCE OF THE DEFERRED COMPENSATION UPON THE EARLIEST OF THE FOLLOWING: (I) SEPTEMBER 1, 2019, (II) HIS VOLUNTARY 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 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, PLUS INTEREST ACCRUED IF HE REMAINS EMPLOYED WITH THE UNIVERSITY. MR. UNRUH WILL BECOME FULLY VESTED IN THE BALANCE OF THE DEFERRED COMPENSATION UPON THE EARLIEST OF THE FOLLOWING: (I) JULY 1, 2019, (II) HIS VOLUNTARY 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 FOR CAUSE BEFORE THE ACCOUNT IS VESTED, THE ENTIRE ACCOUNT WILL BE FORFEITED. 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FORM 990, PART VI, SECTION B, LINE 11 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, 2014. 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 XI, LINE 9: DEL/DUO FUND BALANCE AT END OF PRIOR YEAR - RESULT OF MERGER 10,204,318. CONTRIBUTION RECEIVABLE WRITE-OFF -382,143. 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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