2016-08-10T20:34:30-05:00 2015-09-30 PricewaterhouseCoopers LLP 101 SEAPORT BLVD Boston MA 02210 990 2014-10-01 951643307 California Institute of Technology % MATTHEW W BREWER CALI 6263956744 1200 East California Blvd 123-15 Pasadena CA 91125 MATTHEW W BREWER CONTROLLER 6263956744 2016-08-09 true PRICEWATERHOUSECOOPERS LLP P01390592 6175305000 2014 2016-12-15 16:53:06Z DR THOMAS F ROSENBAUM 1200 EAST CALIFORNIA BLVD pasadena CA 91125 3340812000 false X www.caltech.edu X 1891 CA SEE SCHEDULE O 63 56 10535 509 6796000 -11272000 382698000 481336000 1772561000 1977565000 124252000 130389000 16812000 8977000 2296323000 2598267000 71453000 73479000 0 0 1200039000 1234073000 0 0 18370000 988202000 1168231000 2259694000 2475783000 36629000 122484000 4166404000 4604929000 1649022000 2180315000 2517382000 2424614000 X SEE SCHEDULE O false false 332474000 73359000 164558000 INSTRUCTION AND ACADEMIC SUPPORT AT THE CAMPUS. 252677000 26220000 ORGANIZED RESEARCH AT THE CAMPUS. 1758660000 1758660000 Sponsored research at the Jet Propulsion Laboratory. 32832000 120000 28127000 2376643000 true true false true false false false true true true true true false false true true true false true true true false true false false false false true true true true false false false false false true true false true true true false false false true true true false false false true X 2658 0 true 10535 true true true true CI SZ false false false false false false false false X 63 56 true false false false false false false true true false false true true true true true true true true true true CA IL X MATTHEW W BREWER 6263958818 1200 EAST CALIFORNIA BLVD 123-15 pasadena CA 91125 X SEAN BAILEY Trustee (SINCE 01/2015) 1.0 0.0 X 0 0 0 BARBARA M BARRETT Trustee 1.0 0.0 X 0 0 0 GORDON M BINDER Trustee 1.0 0.0 X 0 0 0 ROBERT C BONNER Trustee 1.0 0.0 X 0 0 0 LYNN A BOOTH Trustee 1.0 0.0 X 0 0 0 BRIGITTE M BREN Trustee 1.0 0.0 X 0 0 0 JOHN E BRYSON Trustee 1.0 0.0 X 0 0 0 MILTON M CHANG Trustee 1.0 0.0 X 0 0 0 JOHN S CHEN Trustee 1.0 0.0 X 0 0 0 WENCHI CHEN Trustee 1.0 0.0 X 0 0 0 PEGGY T CHERNG Trustee 1.0 0.0 X 0 0 0 ROBERT B CHESS Trustee 1.0 0.0 X 0 0 0 WILLIAM H DAVIDOW Trustee 1.0 0.0 X 0 0 0 DAVID T DREIER Trustee 1.0 0.0 X 0 0 0 LOUNETTE M DYER Trustee 1.0 0.0 X 0 0 0 THOMAS E EVERHART Trustee 1.0 0.0 X 0 0 0 JOSHUA S FRIEDMAN Trustee 1.0 0.0 X 0 0 0 WILLIAM T GROSS Trustee 1.0 0.0 X 0 0 0 NARENDRA K GUPTA Trustee 1.0 0.0 X 0 0 0 B KIPLING HAGOPIAN Trustee 1.0 0.0 X 0 0 0 FREDERICK J HAMEETMAN Trustee 1.0 0.0 X 0 0 0 DAVID D HO Trustee (SINCE 07/2015) 1.0 0.0 X 0 0 0 SHIRLEY M HUFSTEDLER Trustee 1.0 0.0 X 0 0 0 MARIA D HUMMER-TUTTLE Trustee 1.0 0.0 X 0 0 0 BOBBY R INMAN Trustee 1.0 0.0 X 0 0 0 ROBERT T JENKINS Trustee 1.0 0.0 X 0 0 0 G BRADFORD JONES Trustee 1.0 0.0 X 0 0 0 PETER D KAUFMAN Trustee 1.0 0.0 X 0 0 0 LOUISE KIRKBRIDE Trustee 1.0 0.0 X 0 0 0 WALTER G KORTSCHAK Trustee 1.0 0.0 X 0 0 0 KENT KRESA Trustee 1.0 0.0 X 0 0 0 JON B KUTLER Trustee 1.0 0.0 X 0 0 0 DAVID LI LEE Chair/Trustee 1.0 0.0 X X 0 0 0 YORK LIAO Trustee 1.0 0.0 X 0 0 0 ALEXANDER LIDOW Trustee 1.0 0.0 X 0 0 0 RONALD K LINDE Vice Chair/Trustee 1.0 0.0 X X 0 0 0 A MICHAEL LIPPER Trustee 1.0 0.0 X 0 0 0 ANDREW N LIVERIS TRUSTEE 1.0 0.0 X 0 0 0 SHIRLEY M MALCOM Trustee 1.0 0.0 X 0 0 0 DEBORAH D MCWHINNEY Trustee 1.0 0.0 X 0 0 0 RICHARD MERKIN Trustee 1.0 0.0 X 0 0 0 KENNETH G MOORE Trustee 1.0 0.0 X 0 0 0 PHILIP M NECHES Trustee 1.0 0.0 X 0 0 0 PATRICK H NETTLES JR Trustee 1.0 0.0 X 0 0 0 PETER NORTON Trustee 1.0 0.0 X 0 0 0 RONALD L OLSON Trustee 1.0 0.0 X 0 0 0 STEPHEN R ONDERDONK Trustee 1.0 0.0 X 0 0 0 WILLIAM H RASTETTER Trustee (SINCE 07/2015) 1.0 0.0 X 0 0 0 STEWART A RESNICK Trustee 1.0 0.0 X 0 0 0 NELSON C RISING Trustee 1.0 0.0 X 0 0 0 THOMAS F ROSENBAUM PRES/TRUSTEE 40.0 0.0 X X 453624 0 73952 STEPHEN A ROSS Trustee 1.0 0.0 X 0 0 0 RICHARD H SCHELLER Trustee 1.0 0.0 X 0 0 0 MARC I STERN Trustee 1.0 0.0 X 0 0 0 DONALD W TANG Trustee 1.0 0.0 X 0 0 0 KEVIN M TAWEEL Trustee 1.0 0.0 X 0 0 0 DAVID W THOMPSON Trustee 1.0 0.0 X 0 0 0 CHARLES R TRIMBLE Trustee 1.0 0.0 X 0 0 0 LEWIS W VAN AMERONGEN Trustee 1.0 0.0 X 0 0 0 WALTER WEISMAN Trustee 1.0 0.0 X 0 0 0 GAYLE E WILSON Trustee 1.0 0.0 X 0 0 0 RICHMOND A WOLF Trustee 1.0 0.0 X 0 0 0 SUZANNE H WOOLSEY Trustee 1.0 0.0 X 0 0 0 MATTHEW W BREWER Controller 40.0 0.0 X 214438 0 53247 DEAN CURRIE VP FOR BUSINESS AND FINANCE 40.0 0.0 X 582135 0 62716 CHARLES ELACHI VP/DIR JET PROPULSION LAB 40.0 0.0 X 828356 0 61806 DIANA JERGOVIC VP STRATEGY Implementation 40.0 0.0 X 218965 0 21851 BRIAN KEITH LEE VP for Dev & INSTIT. RELATIONS 40.0 0.0 X 605590 0 59279 MADELINE WAY LEE Assistant Treasurer 32.0 0.0 X 145153 0 34953 JENNIFER THERESA LUM Deputy General Counsel 40.0 0.0 X 241220 0 56543 SHARON E PATTERSON Assoc. VP for fin. & treas. 40.0 0.0 X 344754 0 41732 SCOTT H RICHLAND Chief Investment Officer 40.0 0.0 X 740970 0 443451 ANNEILA I SARGENT VP Studnt Aff (UNTIL 07/2015) 40.0 0.0 X 329135 0 54488 JOSEPH E SHEPHERD VP Studnt Aff (SINCE 07/2015) 40.0 0.0 X 234991 0 49864 EDWARD M STOLPER PROVOST 40.0 0.0 X 691414 0 149339 VICTORIA D STRATMAN General Counsel 40.0 0.0 X 436598 0 55888 MARY L WEBSTER Secretary of board of trustees 40.0 0.0 X 239616 0 49772 LARRY DEAN JAMES Deputy Director of JPL 40.0 0.0 X 474982 0 42159 KANIANTHRA MANI CHANDY Prof of Comp Sci - Emeritus 40.0 0.0 X 636477 0 22032 SARKIS MAZMANIAN Professor of Microbiology 40.0 0.0 X 431382 0 31487 PAUL H PATTERSON Prof of Bio Sci-Emeritus 40.0 0.0 X 453053 0 43382 EDWARD C STONE Professor of Physics 40.0 0.0 X 415184 0 54233 RICHARD M WILSON Prof of Mathematics - Emeritus 40.0 0.0 X 539236 0 36064 JAKOB J VAN ZYL FAC ASSOC. & ASSOC DIR JPL 40.0 0.0 X 367664 0 53491 9624937 0 1551729 4100 true true false EXELIS INC INFO SYS 27126 NETWORK PL CHICAGO IL 606731271 INFORMATION TECH 28965196 LOCKHEED MARTIN CORP 12257 S WADSWORTH LITTLETON CO 801258500 AEROSPACE 149006806 RAYTHEON 2000 EAST EL SEGUNDO BLVD EL SEGUNDO CA 902450902 AEROSPACE 22210969 NORTHROP GRUMMAN SYSTEMS CORPORATIO 1 SPACE PARK DRIVE REDONDO BEACH CA 902781001 AEROSPACE 47285517 EXELIS INC 27126 NETWORK PL CHICAGO IL 606731271 AEROSPACE 21482773 733 255614000 225722000 30911400 481336000 JPL AND OTHER AWARDS 900099 1825622000 1825622000 STUDENT TUITION 611600 93319000 93319000 USE OF FACILITIES 900099 30497000 30497000 AUXILIARY ENTERPRISES 900099 28127000 9712000 4087000 14328000 1977565000 37398000 2690000 34708000 0 8546000 8546000 416000 4000 412000 0 412000 412000 833607000 1925000 741162000 1379000 92445000 546000 92991000 92991000 0 0 0 ADVERTISING 900099 19000 19000 19000 2598267000 1959150000 6796000 150985000 120000 120000 73155000 73155000 204000 204000 0 8656000 2972000 5007000 677000 6382000 5402000 860000 120000 977357000 940577000 28538000 8242000 97060000 93863000 2428000 769000 81154000 71200000 7438000 2516000 63464000 61076000 1853000 535000 0 12042000 7169000 4868000 5000 1363000 1363000 616000 616000 0 6951000 6951000 16960000 10791000 4849000 1320000 366000 173000 175000 18000 289958000 282219000 5387000 2352000 6260000 3902000 2334000 24000 127000 112000 14000 1000 50604000 47054000 2859000 691000 38741000 37204000 944000 593000 0 8654000 8151000 412000 91000 32464000 32006000 362000 96000 0 65793000 64262000 1211000 320000 6471000 4170000 2301000 CONTRACT SERVICES 594961000 594961000 JPL POST EMPLYMNT OBLIGATION 35900000 35900000 2475783000 2376643000 80770000 18370000 X 0 0 173694000 210836000 92385000 162565000 239130000 272483000 350000 1648495 0 0 435000 1538917 0 0 456226000 465097000 1729286000 864263000 866706000 865023000 1074075000 1225519000 1263403000 1400218588 0 0 0 0 0 0 4166404000 4604929000 462540000 487105000 0 0 44549000 48695000 275576000 275553000 90327000 87821000 0 0 0 0 406786000 901389000 369244000 379752000 1649022000 2180315000 X 708350000 507208000 750967000 688071000 1058065000 1229335000 2517382000 2424614000 4166404000 4604929000 X 122484000 -182868000 -32384000 X X false true X true true true X 411867000 415694000 371146000 382698000 481336000 2062741000 0 0 411867000 415694000 371146000 382698000 481336000 2062741000 52040943 2010700057 37271000 27421000 54294000 39554000 43670000 202210000 3567000 14868000 21878000 40313000 0 2305264000 8829418000 0.87222 0.88963 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false true 451000 true 165000 false true 616000 false lobbying activity explanation schedule C, part II-B THE INSTITUTE RETAINS A CONSULTING FIRM TO MONITOR LEGISLATIVE DEVELOPMENTS AND TO COUNSEL IT ON GOVERNMENT RELATIONS MATTERS. THE CONSULTANT MAY ESTABLISH DIRECT CONTACT WITH LEGISLATORS, THEIR STAFFS, GOVERNMENT OFFICIALS, AND LEGISLATIVE BODIES AND ENGAGE IN COMMUNICATION WHICH MAY BE CONSIDERED COMMUNICATION WHICH ATTEMPTS TO INFLUENCE LEGISLATION. FURTHER, THE INSTITUTE'S STAFF IN THE COURSE OF NECESSARY COMMUNICATIONS WITH GOVERNMENT OFFICIALS AND INFORMATIONAL PUBLIC EDUCATION ACTIVITIES, MAY FROM TIME TO TIME ENGAGE IN COMMUNICATION WHICH MAY BE CONSIDERED TO INFLUENCE LEGISLATION. TOTAL LOBBYING EXPENDITURES INCLUDE THE TOTAL OF ALL EXPENDITURES IN ALL ACCOUNTS THAT THE INSTITUTE BELIEVES MAY POTENTIALLY HAVE ANY RELATIONSHIP TO LOBBYING. THIS AMOUNT INCLUDES ALL OFFICE BUDGET EXPENDITURES OF THE INSTITUTE'S OFFICE OF GOVERNMENT RELATIONS. THE INSTITUTE IS A MEMBER OF CERTAIN PROFESSIONAL AND ACADEMIC ORGAIZATIONS THAT HAVE REGISTERED TO LOBBY ON BEHALF OF MEMBERSHIP. ALTHOUGH A SMALL PORTION OF THE INSTITUE'S MEMBERSHIP DUES MAY BE USED FOR LOBBYING, THE AMOUNT IS IMMATERIAL. CALTECH'S MEMBERSHIP IN THESE ORGANIZATIONS IS FOR THE PURPOSE OF HAVING ACCESS TO THE MOST CURRENT INFORMATION ON GOVERNMENT AND BUSINESS DEVELOPMENTS AS THEY RELATE TO COLLEGES AND UNIVERSITIES AND NOT FOR ANY LOBBYING EFFORT. X X false false true X 2115730000 159020000 -38909000 18755000 84276000 18201000 2114609000 1961311000 79637000 188312000 18546000 77786000 17198000 2115730000 1811497000 63352000 194690000 17756000 74748000 15724000 1961311000 1624331000 48421000 247221000 15692000 77320000 15464000 1811497000 1631959000 106064000 -10788000 13767000 75029000 14108000 1624331000 0.29720 0.68870 0.01410 false false 41805000 41805000 1057193000 434390000 622803000 564443000 429873000 134570000 65845000 65845000 865023000 4867000 F ALTERNATIVE SECURITIES 776106000 F PRIVATE EQUITY 224986000 F REAL ASSETS 394259588 F 1400218588 0 ACCUMULATED POST RET. BENEFIT 379752000 379752000 X 2338451000 -182868000 -76948000 -259816000 2598267000 2598267000 2413578000 2413578000 6951000 55254000 62205000 2475783000 FORM 990, SCHEDULE D, PART III, LINE 1a The Institute does not capitalize its collection items. Due to the immateriality of the effect of collections practices on its financial statements, the Institute does not disclose its collections policies. FORM 990, SCHEDULE D, PART III, LINE 4 CALTECH MAINTAINS A COLLECTION OF INSTITUTIONAL RECORDS, DOCUMENTs, ARTIFACTS, and SPECIMENS FOR HISTORICAL PRESERVATION, INSTRUCTION, AND SCHOLARLY RESEARCH. FORM 990, SCHEDULE D, PART IV, LINE 2B The Institute IS THE TRUSTEE OF donor annuities and trust agreements and manages CERTAIN investment funds for others, such as related organizations. FORM 990, SCHEDULE D, PART V, LINE 4 The Institute's endowment functions to provide income to support the Institute's mission of scientific research and education. Form 990, Schedule D, Part VII, Line 3(A) Alternative Securities include, but are not limited to, substantial INVESTMENT holdings that are illiquid and/or contain various redemption restrictions. FORM 990, SCHEDULE D, PART X, LINE 2 THE INSTITUTE IS GENERALLY EXEMPT FROM FEDERAL INCOME TAXES RELATED TO ITS CHARITABLE PURPOSE UNDER THE PROVISIONS OF IRC SECTION 501(C)(3) AND FROM CALIFORNIA AND OTHER STATE INCOME TAXES UNDER CORRESPONDING STATE LAWS. THE INSTITUTE IS SUBJECT TO BOTH FEDERAL AND STATE INCOME TAXES ON INCOME FROM CERTAIN ACTIVITIES NOT SUBSTANTIALLY RELATED TO ITS EXEMPT PURPOSE. AT SEPTEMBER 30, 2015 AND 2014, THE INSTITUTE MAINTAINED A FULL VALUATION ALLOWANCE ON ITS IMMATERIAL DEFERRED TAX ASSETS, WHICH ARE PRIMARILY DUE TO TAX LOSSES FROM CERTAIN INVESTMENT ACTIVITIES. DUE TO UNCERTAINTIES SURROUNDING BOTH THE TIMING AND AMOUNTS OF POTENTIAL FUTURE NET TAXABLE INCOME, THE INSTITUTE HAS CONCLUDED THAT IT IS MORE LIKELY THAN NOT THAT THE INSTITUTE WILL NOT REALIZE THE DEFERRED TAX ASSETS. THE INSTITUTE HAS NO REPORTING REQUIREMENTS FOR UNCERTAIN TAX POSITIONS FOR THE YEARS ENDED SEPTEMBER 30, 2015 AND 2014. FORM 990, SCHEDULE D, PART XI, LINE 2D RECLASSify FINANCIAL AID NETTED WITH TUITION ($55,254,000) CHANGES IN FAIR VALUE OF INTEREST RATE SWAP ($14,743,000) INVESTMENT EXPENSE ($6,951,000) -------------- TOTAL ($76,948,000) FORM 990, SCHEDULE D, PART XII, LINE 4B FINANCIAL AID EXPENSE $55,254,000 -------------- Total $55,254,000 true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 THE INSTITUTE'S RACIALLY NONDISCRIMINATORY POLICY IS CONTAINED IN THE MINUTES OF THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES OF FEBRUARY 1976. THE STATEMENT OF THIS POLICY OR REFERENCE THERETO APPEARS IN SUBSTANTIALLY ALL OF THE INSTITUTE'S CATALOGS, BROCHURES, AND OTHER WRITTEN COMMUNICATIONS WITH THE PUBLIC DEALING WITH STUDENT ADMISSIONS, PROGRAMS, AND SCHOLARSHIPS. THE INSTITUTE SATISFIED THE PUBLICATIONS REQUIREMENT BY VIRTUE OF ITS COMPLIANCE WITH SECTION 4.02 AS PROVIDED IN SECTION 4.03-2(B). SCHEDULE E, LINE 6A THE INSTITUTE RECEIVES GRANTS AND ENTERS INTO CONTRACTS WITH VARIOUS AGENCIES OF THE U.S. GOVERNMENT, THE STATE OF CALIFORNIA, AND LOCAL GOVERNMENT UNITS FOR RESEARCH, TRAINING, AND STUDENT AID. true Central America and the Caribbean 0 0 Investments 609782322 Central America and the Caribbean 0 0 Program Services Scientific Research 72637 East Asia and the Pacific 0 0 Investments 12760758 East Asia and the Pacific 0 0 Program Services Scientific Research 3228200 Europe (Including Iceland and Greenland) 0 0 Investments 48299421 Europe (Including Iceland and Greenland) 2 13 Program Services Scientific Research 49181304 Middle East and North Africa 0 0 Investments 2344980 Middle East and North Africa 0 0 Program Services Scientific Research 448807 North America 0 0 Investments 11092503 North America 1 1 Program Services Scientific Research 2663795 Russia and Neighboring States 0 0 Investments 1949888 Russia and Neighboring States 0 0 Program Services Scientific Research 56167 South America 0 0 Investments 25870871 South America 0 0 Program Services Scientific Research 311865 South Asia 0 0 Program Services Scientific Research 503920 Sub-Saharan Africa 0 0 Program Services Scientific Research 79554 3 14 3 14 768646992 768646992 STUDY ABROAD Europe (Including Iceland and Greenland) 27 204000 WIRE true false true true true true Form 990, schedule f, Part I, LINES 1 AND 2 RECORDS FOR THE INSTITUTE'S STUDY ABROAD PROGRAM ARE MAINTAINED BY THE OFFICE OF FELLOWSHIPS ADVISING AND STUDY ABROAD. THIS OFFICE IS RESPONSIBLE FOR MONITORING THE USE OF FUNDS UNDER ESTABLISHED GUIDELINES. FORM 990, SCHEDULE F, PART I, LINE 3 THE ORGANIZATION IS ABLE TO IDENTIFY EXPENDITURES THROUGH ITS BOOKS AND RECORDS. EXPENDITURES FOR ALL PROGRAM SERVICES ARE MADE AT FAIR VALUE WITH THE OBJECTIVE OF OBTAINING THE BEST RATES AVAILABLE. THE INSTITUTE'S INVESTMENT OFFICE IS RESPONSIBLE FOR ALL FOREIGN AND DOMESTIC INVESTMENTS. ALL INVESTMENTS ARE MADE AT FAIR MARKET VALUE (FMV). FORM 990, SCHEDULE F, PARTS I & III EXPENDITURES PER REGION ARE REPORTED ON AN ACCRUAL BASIS, WHICH IS THE METHOD USED TO ACCOUNT FOR THEM IN THE ORGANIZATION'S BOOKS AND RECORDS. true CALTECH Y 1200 E CALIFORNIA BLVD PASADENA CA 91125 951684790 501(C)(3) 75000 ASSIST RELATED ORG. UNITED WAY GREATER LOS ANGELES 1150 S OLIVE ST T500 LOS ANGELES CA 90015 952274801 501(C)(3) 45000 DESIGNATED ASSISTANCE 2 STUDENT AID 1669 73155000 form 990, schedule i, part i, line 2 THE INSTITUTE'S GRANTS AND ASSISTANCE WITHIN THE UNITED STATES CONSISTS PRIMARILY OF SCHOLARSHIPS AND FELLOWSHIPS AWARDED TO STUDENTS. STUDENTS ARE SELECTED FOR SCHOLARSHIPS AND FELLOWSHIPS BASED ON ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND SIMILAR STANDARDS. VARIOUS INSTITUTE OFFICES MONITOR ELIGIBILITY AND SATISFACTORY ACADEMIC PROGRESS BY GRANTEES. THE INSTITUTE MAKES AN ANNUAL $75,000 GRANT TO THE CALTECH Y. IN ADDITION, THE INSTITUTE ALLOWS THE CALTECH Y THE USE OF FACILITIES ON CAMPUS FREE OF CHARGE. THE CALTECH Y IS A RELATED ORGANIZATION WHOSE MISSION IS TO SUPPORT THE STUDENTS OF CALTECH THROUGH VARIOUS ACTIVITIES. THE INSTITUTE MAKES AN ANNUAL DONATION (DESIGNATED ASSISTANCE) TO THE UNITED WAY OF GREATER LOS ANGELES. INSTITUTE OFFICES MONITOR THE GRANTEE'S PERFORMANCE ACCORDING TO THEIR RESPECTIVE PROGRAM SERVICES GOALS AND/OR PURSUANT TO OTHER AGREEMENTS. FORM 990, SCHEDULE I, PART III, COLUMN (C) CASH GRANTS REPRESENT CREDIT ON ACCOUNTS. X X X true true X X X true true false false false false false true true true MATTHEW W BREWER Controller 193578 0 3000 0 17860 0 24796 0 28451 0 267685 0 0 0 DEAN CURRIE VP FOR BUSINESS AND FINANCE 581559 0 0 0 576 0 40131 0 22585 0 644851 0 0 0 CHARLES ELACHI VP/DIR JET PROPULSION LAB 503580 0 306700 0 18076 0 40131 0 21675 0 890162 0 0 0 DIANA JERGOVIC VP STRATEGY Implementation 160529 0 30000 0 28436 0 14865 0 6986 0 240816 0 0 0 BRIAN KEITH LEE VP for Dev & INSTIT. RELATIONS 493233 0 2500 0 109857 0 40131 0 19148 0 664869 0 0 0 MADELINE WAY LEE Assistant Treasurer 145153 0 0 0 0 0 14463 0 20490 0 180106 0 0 0 JENNIFER THERESA LUM Deputy General Counsel 240738 0 0 0 482 0 28863 0 27680 0 297763 0 0 0 SHARON E PATTERSON Assoc. VP for fin. & treas. 334485 0 5000 0 5269 0 29731 0 12001 0 386486 0 0 0 SCOTT H RICHLAND Chief Investment Officer 519422 0 204048 0 17500 0 394730 0 48721 0 1184421 0 195481 0 ANNEILA I SARGENT VP Studnt Aff (UNTIL 07/2015) 328594 0 0 0 541 0 40131 0 14357 0 383623 0 0 0 JOSEPH E SHEPHERD VP Studnt Aff (SINCE 07/2015) 234538 0 0 0 453 0 36239 0 13625 0 284855 0 0 0 EDWARD M STOLPER PROVOST 638338 0 35000 0 18076 0 140131 0 9208 0 840753 0 0 0 VICTORIA D STRATMAN General Counsel 418522 0 0 0 18076 0 40131 0 15757 0 492486 0 0 0 MARY L WEBSTER Secretary of board of trustees 218564 0 5000 0 16052 0 36171 0 13601 0 289388 0 0 0 LARRY DEAN JAMES Deputy Director of JPL 353593 0 76650 0 44739 0 40131 0 2028 0 517141 0 0 0 KANIANTHRA MANI CHANDY Prof of Comp Sci - Emeritus 22660 0 0 0 613817 0 18572 0 3460 0 658509 0 0 0 SARKIS MAZMANIAN Professor of Microbiology 220127 0 200000 0 11255 0 24417 0 7070 0 462869 0 0 0 PAUL H PATTERSON Prof of Bio Sci-Emeritus 1529 0 0 0 451524 0 41680 0 1702 0 496435 0 0 0 EDWARD C STONE Professor of Physics 319821 0 0 0 95363 0 40131 0 14102 0 469417 0 0 0 RICHARD M WILSON Prof of Mathematics - Emeritus 77841 0 0 0 461395 0 25025 0 11039 0 575300 0 0 0 THOMAS F ROSENBAUM PRES/TRUSTEE 444296 0 0 0 9328 0 20066 0 53886 0 527576 0 0 0 JAKOB J VAN ZYL FAC ASSOC. & ASSOC DIR JPL 331135 0 19500 0 17029 0 40131 0 13360 0 421155 0 0 0 form 990, schedule j, part i, line 1a FIRST CLASS TRAVEL: PURSUANT TO A WRITTEN POLICY, FIRST CLASS OR BUSINESS CLASS TRAVEL IS PERMITTED FOR CERTAIN EMPLOYEES UNDER CERTAIN CIRCUMSTANCES FOR BUSINESS PURPOSES. DURING CALENDAR YEAR 2014, SIX OFFICERS AND ONE KEY EMPLOYEE RECEIVED FIRST CLASS OR CHARTER TRAVEL BENEFITS. TRAVEL FOR BUSINESS PURPOSES IS NOT INCLUDED IN TAXABLE WAGES. TAX INDEMNIFICATION AND GROSS UP PAYMENTS: DURING CALENDAR YEAR 2014, ONE OFFICER AND ONE HIGHEST COMPENSATED EMPLOYEE RECEIVED TAX INDEMNIFICATION AND GROSS UP PAYMENTS. HOUSING ALLOWANCE: HOUSING ALLOWANCES ARE PROVIDED TO CERTAIN OFFICERS, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES AS PART OF THE INSTITUTE'S SALARY SUPPLEMENT HOUSING PROGRAM, WHICH IS GOVERNED BY A WRITTEN POLICY. DURING CALENDAR 2014, TWO OFFICERS, ONE KEY EMPLOYEE, AND ONE HIGHEST COMPENSATED EMPLOYEE RECEIVED HOUSING ALLOWANCE BENEFITS. PAYMENTS UNDER THIS PROGRAM ARE INCLUDED IN TAXABLE WAGES. THE PRESIDENT OCCUPIES AN INSTITUTE-OWNED RESIDENCE ON ITS CAMPUS AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE INSTITUTE. THE PRESIDENT'S NONTAXABLE BENEFITS IN SCHEDULE J, PART I, COLUMN (D) INCLUDE $23,708 AS A PRO-RATA ESTIMATE OF THE ANNUAL RENTAL VALUE OF THE PERSONAL SPACE OCCUPIED IN THAT RESIDENCE. RENTAL ALLOWANCE: RENTAL ALLOWANCES ARE PROVIDED TO CERTAIN OFFICERS AND HIGHEST COMPENSATED EMPLOYEES. THESE ALLOWANCES ARE GOVERNED BY INDIVIDUAL WRITTEN AGREEMENTS WITH THE RESPECTIVE EMPLOYEES. DURING CALENDAR 2014, ONE OFFICER AND ONE HIGHEST COMPENSATED EMPLOYEE RECEIVED RENTAL ALLOWANCE BENEFITS THAT WERE GROSSED-UP FOR APPLICABLE TAXES AND INCLUDED IN TAXABLE WAGES. FORM 990, SCHEDULE J, PART I, LINE 4A SCHEDULE J, PART I, COLUMN B (III) INCLUDES COMPENSATION PAID IN CALENDAR 2014 UNDER THE INSTITUTE'S EARLY RETIREMENT PLAN FOR FACULTY. EARLY RETIREES AND THEIR RESPECTIVE COMPENSATION AMOUNTS UNDER THAT PLAN WERE: KANIANTHRA MANI CHANDY, $613,796, RICHARD M. WILSON, $461,235, AND PAUL H. PATTERSON, $433,987. FORM 990, SCHEDULE J, PART I, LINE 4B TERMS AND CONDITIONS OF DEFERRED PERFORMANCE COMPENSATION PLAN FOR INVESTMENT PROFESSIONALS: IN 2011 THE INSTITUTE ESTABLISHED A PERFORMANCE COMPENSATION PLAN ("PLAN") TO ASSIST WITH RECRUITMENT AND RETENTION FOR ITS INVESTMENT OFFICE. UNDER THE TERMS OF THE PLAN, PARTICIPANTS ARE ELIGIBLE FOR CERTAIN AWARDS BASED ON THE PERFORMANCE OF THE INSTITUTE'S INVESTMENTS EACH CALENDAR YEAR, AS MEASURED BY CERTAIN QUANTITATIVE AND QUALITATIVE FACTORS. DURING CALENDAR YEAR 2014, ONE INDIVIDUAL REPORTED IN SCHEDULE J, SCOTT RICHLAND, RECEIVED SUCH COMPENSATION. 50% OF THE AWARDS UNDER THE PLAN ARE PAID DURING THE CALENDAR YEAR SUBSEQUENT TO THE END OF THE PERFORMANCE MEASUREMENT PERIOD WHILE THE REMAINING 50% OF EACH YEAR'S AWARD IS DEFERRED AND PAID IN THREE (POST-2013) OR FOUR (2011-2013) ANNUAL INSTALLMENTS. FOR MR. RICHLAND, COLUMN B(ii), "BONUS AND INCENTIVE COMPENSATION" COMPRISES PLAN CASH AMOUNTS PAID DURING CALENDAR YEAR 2014 WHICH REPRESENTS THE AGGREGATE OF 50% OF HIS AWARD FOR CALENDAR YEAR 2013 PERFORMANCE AND INSTALLMENTS FROM AMOUNTS DEFERRED FROM 2011 (THE FIRST YEAR OF THE PLAN) AND 2012. THE AMOUNT SHOWN UNDER COLUMN C, "DEFERRED COMPENSATION," CONSISTS OF $29,730 IN EMPLOYER CONTRIBUTIONS TO MR. RICHLAND'S DEFINED CONTRIBUTION RETIREMENT PLAN (UNRELATED TO THE PERFORMANCE COMPENSATION PLAN) PLUS $365,000 REPRESENTING THE GROSS AMOUNT OF HIS CALENDAR YEAR 2014 PLAN AWARD WHICH WILL BE PAID (ALONG WITH, OR NET OF, ANY INVESTMENT EARNINGS OR LOSSES) DURING CALENDAR YEARS 2015 - 2018. DEFERRED AMOUNTS UNDER THE PLAN ARE SUBJECT TO RISK OF FORFEITURE UNDER CERTAIN CIRCUMSTANCES AS DESCRIBED IN THE PLAN. TERMS AND CONDITIONS OF DEFERRED COMPENSATION AGREEMENT FOR THE PROVOST: In Calendar Year 2013, the institute entered into a deferred compensation agreement with the Provost. Per the terms of the agreement a total of $165,000 was set aside over 2 years (2013 and 2014). Vesting will occur January 16, 2021, or at an earlier date under certain conditions described in the agreement, and the amounts under the agreement are subject to risk of forfeiture under certain circumstances. The $100,000 set aside by the Institute in 2014 in an investment account, as per the deferred compensation agreement, is included in Schedule J, Part II, Column C. FORM 990, SCHEDULE J, PART I, LINE 7 CERTAIN INDIVIDUALS LISTED IN PART I OF SCHEDULE J RECEIVED BONUSES IN RECOGNITION OF EXCELLENT JOB PERFORMANCE OR AS A NEGOTIATED PAYMENT AT THE BEGINNING OF AN EMPLOYMENT ARRANGEMENT. BONUS RECIPIENTS' NAMES AND AMOUNTS PAID ARE SHOWN IN SCHEDULE J, PART II, COLUMN (BII). SCOTT H. RICHLAND - CHIEF INVESTMENT OFFICER: THE INSTITUTE OFFERS INCENTIVE COMPENSATION TO CERTAIN INVESTMENT PROFESSIONALS BASED UPON THE INSTITUTE'S INVESTMENT PERFORMANCE. SEE RESPONSE TO QUESTION 4B ABOVE. FORM 990, SCHEDULE J, PART I, LINES 8 AND 9 THOMAS F. ROSENBAUM - PRESIDENT/TRUSTEE DR. ROSENBAUM'S EMPLOYMENT CONTRACT DESCRIBES HIS INITIAL COMPENSATION AND BENEFITS. DIANA JERGOVIC - VICE PRESIDENT FOR STRATEGY IMPLEMENTATION DR. JERGOVIC'S EMPLOYMENT CONTRACT DESCRIBES HER INITIAL COMPENSATION AND BENEFITS. A CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY 521705592 130178EZ5 2006-07-12 165000000 FIN VAR CAP PROJ,REFUND SER 2003 false false false B CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY 521705592 130178TE6 2009-07-28 80696800 CONST,ACQ,IMPROVE VAR CAP PROJ false false false A 0 0 184062305 0 0 0 1340471 0 0 93471834 89250000 0 2010 false true true true B 0 0 80796565 0 0 0 992698 0 0 79803867 0 0 2010 false false true true A false true false true true 0.01200 0.00300 0.01500 false false false true B false true true true true true 0.00000 0.00000 0.00000 false false false true A false false true true true true BANK OF NY MELLON 30.3 false false true CITIGROUP GLBL TRADE 2. true false true B false false true true false false 0 false 0 false true A true B true COLUMN A: DIFFERENCE BETWEEN AMOUNT IN PART I, (E) AND PART II, 3 IS DUE TO INTEREST EARNED ON INVESTED PROCEEDS. PART I, LINE A(F) - THE ISSUE DATE OF THE SERIES 2003 BONDS IS 01/15/2003. PART IV, LINE 2C - THE REBATE COMPUTATION WAS PERFORMED ON AUGUST 20, 2012 FOR THE COMPUTATION PERIOD ENDING ON JULY 1, 2012. COLUMN B: VARIANCE BETWEEN AMOUNTS SHOWN IN PART I, (E) AND PART II, 3 IS DUE TO INTEREST EARNED ON INVESTED PROCEEDS. PART IV, LINE 2C - THE REBATE COMPUTATION WAS PERFORMED AS OF SEPTEMBER 30, 2011. DEAN CURRIE VP FOR BUS. AND FIN. RELOCATION LOAN X 350000 350000 false true true 350000 31500 SEE PART V SEE PART V ROBERT BONNER TRUSTEE 36000 FAMILY MEMBER EMPLOYED BY CIT false THOMAS F ROSENBAUM PRESIDENT/TRUSTEE 291000 FAMILY MEMBER EMPLOYED BY CIT false STEPHEN ONDERDONK TRUSTEE 298000 FAMILY MEMBERS EMPLOYED BY CIT false EDWARD M STOLPER PROVOST 166000 FAMILY MEMBERS EMPLOYED BY CIT false VICTORIA D STRATMAN GENERAL COUNSEL 84000 FAMILY MEMBER EMPLOYED BY CIT false MARY L WEBSTER SECRETARY 127000 FAMILY MEMBER EMPLOYED BY CIT false DR SHIRLEY M MALCOM TRUSTEE 105000 FAMILY MEMBER EMPLOYED BY CIT false GLENAIR INC SEE PART V 643669 SEE PART V false CANYON CAPITAL ADVISORS LLC SEE PART V 1651862 SEE PART V false PART III, LINE 1 FAMILY MEMBER OF INTERESTED PERSON RECEIVING GRADUATE FELLOWSHIP WHILE ATTENDING CALTECH. PART IV NAME OF PERSON: GLENAIR, INC. ("GLENAIR") RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: PETER D. KAUFMAN, A TRUSTEE OF THE INSTITUTE, IS ALSO CHAIRMAN AND CHIEF EXECUTIVE OFFICER OF GLENAIR. AMOUNT OF TRANSACTION: AGGREGATE $655,366 FOR THE YEAR ENDED SEPTEMBER 30, 2015. DESCRIPTION OF TRANSACTION: GLENAIR IS A U.S. BASED COMPANY THAT SPECIALIZES IN THE MANUFACTURING OF ELECTRONIC COMPONENTS. THE INSTITUTE HAS PROCURED COMPONENTS FROM GLENAIR IN THE NORMAL COURSE OF BUSINESS, AT ARM'S LENGTH AND IN ACCORDANCE WITH INSTITUTE PROCUREMENT POLICIES AND PROCEDURES. MR. KAUFMAN DID NOT PARTICIPATE IN AND WAS EXCLUDED FROM THE INSTITUTE'S DELIBERATIONS AND DECISIONS WITH RESPECT TO THESE PROCUREMENTS. NAME OF PERSON: CANYON CAPITAL ADVISORS LLC ("CANYON") RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: JOSHUA S. FRIEDMAN, A TRUSTEE OF THE INSTITUTE, IS ALSO A FOUNDING PARTNER, CO- CHAIRMAN AND CO-CEO OF CANYON. AMOUNT OF TRANSACTION: MANAGEMENT FEES AND EXPENSES OF $1,651,862 DESCRIPTION OF TRANSACTION: THE INSTITUTE IS AN INVESTOR IN TWO FUNDS MANAGED BY CANYON. THE INVESTMENT WITH CANYON ("THE TRANSACTION") WAS MADE DURING THE INSTITUTE'S FISCAL YEAR 2012 AFTER AN INDEPENDENT COMMITTEE OF TRUSTEES CONSIDERED THE TRANSACTION IN ACCORDANCE WITH INSTITUTE POLICY AND DETERMINED THAT: THE TRANSACTION WAS FAIR AND REASONABLE AS TO THE INSTITUTE AND THE ECONOMIC BENEFIT PROVIDED BY THE INSTITUTE DID NOT EXCEED THE FAIR MARKET VALUE OF THE CONSIDERATION RECEIVED BY THE INSTITUTE; THE TRANSACTION WAS ENTERED INTO SOLELY FOR THE BENEFIT OF THE INSTITUTE; AND THE INSTITUTE COULD NOT HAVE OBTAINED A MORE ADVANTAGEOUS ARRANGEMENT WITH REASONABLE EFFORT UNDER THE CIRCUMSTANCES. DURING THE YEAR ENDING SEPTEMBER 30, 2015, THE INSTITUTE'S INVESTMENTS IN CANYON FUNDS INCURRED $1,651,862 IN MANAGEMENT FEES AND EXPENSES. AS OF SEPTEMBER 30, 2015 ACCRUED AND UNPAID MANAGEMENT FEES AND EXPENSES TOTALED $302,172. AS OF SEPTEMBER 30, 2015, CANYON HAD TOTAL ASSETS UNDER MANAGEMENT OF APPROXIMATELY $23 BILLION. X 72 19824000 hi-lo avg X 3 10363000 Appraisal X 1 2800 RETAIL & PLACE MARK X EQUIPMENT 1 720600 INVENTORY&PLACE MARK X Miscellaneous 6 1000 Retail & Place Mark 0 false true true Form 990, Schedule M CONTRIBUTION AMOUNTS ARE PRESENTED ON THE ACCRUAL BASIS CONSISTENT WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, AND THEREFORE MAY PRODUCE DIFFERENT RESULTS FROM COMPUTATIONS USING IRS-REQUIRED METHODOLOGY APPLICABLE TO DONORS. FORM 990, SCHEDULE M, part i, column(B) amounts In this column reflect THE number of contributors. FORM 990, SCHEDULE M, LINE 25 EQUIPMENT DONATED FOR RESEARCH AND INSTRUCTION. FORM 990, SCHEDULE M, LINE 26 MISCELLANEOUS EXPENSE: POSTAGE, TRAVEL, PRINTING, OTHER. FORM 990, SCHEDULE M, LINE 32A THE INSTITUTE MAY UTILIZE THIRD PARTY BROKERS TO SELL SECURITIES AND REAL ESTATE. FORM 990, PARTS I AND III, LINE 1 The mission of the California Institute of Technology ("The Institute" or "CalTech") is to expand human knowledge and benefit society through research integrated with education. We investigate the most challenging, fundamental problems in science and technology in a singularly collegial, interdisciplinary atmosphere, while educating outstanding students to become creative members of society. FORM 990, PART I, LINE 6 THE NUMBER IDENTIFIED IS BASED ON A REASONABLE ESTIMATE. form 990, part iii, line 4d AUXILIARY ENTERPRISES (EXPENSES $32,832,000) (REVENUE $28,127,000) AUXILIARY ENTERPRISES IN SUPPORT OF INSTITUTE'S MISSION CALTECH Y ALLOCATION (GRANTS $75,000) CASH ALLOCATION TO RELATED ORGANIZATION SUPPORTING INSTITUTE'S MISSION UNITED WAY GREATER LOS ANGELES ALLOCATION (GRANTS $45,000) CASH ALLOCATION TO MATCH EMPLOYEE CONTRIBUTIONS TO UNITED WAY FORM 990, PART IV, LINE 6 THE INSTITUTE HAS NO SEPARATE FUNDS OR ACCOUNTS WHERE DONORS HAVE THE RIGHT EITHER TO PROVIDE ADVICE ON THE INVESTMENT OF AMOUNTS IN THE FUNDS OR TO PROVIDE ADVICE ON DISTRIBUTION OF SUCH FUNDS OUTSIDE THE INSTITUTE. FORM 990, Part VI, Line 2 Trustees Thomas E. Everhart and Peter Norton - Business Relationship TRUSTEES JOSHUA S. FRIEDMAN AND B. KIPLING HAGOPIAN - BUSINESS RELATIONSHIP FORM 990, PART VI, LINE 11a The Institute prepares Form 990 with the assistance of a paid preparer. A draft of the Form 990 is presented to the Audit and Compliance Committee for review and comment. A final copy of Form 990 is provided to each member of the Board of Trustees prior to filing with the IRS. An officer of the institute and its paid preparer, respectively, sign the final form 990. FORM 990, PART VI, LINE 12c EACH TRUSTEE AND OFFICER IS REQUIRED TO COMPLETE ANNUALLY A CONFLICT OF INTEREST QUESTIONNAIRE DISCLOSING POTENTIAL OR ACTUAL CONFLICTS. TRUSTEES, OFFICERS, AND KEY EMPLOYEES ALSO ARE REQUIRED TO DISCLOSE IN WRITING POTENTIAL AND ACTUAL CONFLICTS ON AN ONGOING BASIS THROUGHOUT THE YEAR. ALL CONFLICTS ARE RESOLVED IN ACCORDANCE WITH THE INSTITUTE'S WRITTEN CONFLICT OF INTEREST POLICIES. FORM 990, PART VI, LINE 15a, 15b The Executive Compensation Committee of the Board of Trustees NORMALLY reviews on an annual basis the compensation of officers and certain employees including key employees of the Institute. The Executive Compensation Committee reviews comparability data from relevant surveys. The deliberations are contemporaneously documented in the committee's minutes. FORM 990, PART VI, LINE 19 The Institute's governing documents, financial statements and conflict of interest policy are available upon request. FORM 990, PART VII, COLUMN B THE INSTITUTE HAS ESTIMATED THAT TRUSTEES DEVOTE, ON AVERAGE, AT LEAST ONE HOUR OF TIME PER WEEK. CERTAIN BOARD MEMBERS' TIME DEVOTED TO INSTITUTE BUSINESS MAY SUBSTANTIALLY EXCEED THIS ESTIMATE ON A REGULAR BASIS. TIME DEVOTED TO INSTITUTE BUSINESS BY OFFICERS, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES MAY SUBSTANTIALLY EXCEED THE ESTIMATES PROVIDED ON A REGULAR BASIS. FORM 990, PART X, LINE 11 Investments- publicly traded securities include, but are not limited to, investments held directly or in funds and managed accounts for which the underlying securities are primarily publicly traded, although certain restrictions on the liquidity of some of these holdings may exist. Form 990, Part XI, Line 9 Other Changes in Net Assets or Fund Balances Changes in Postemployment Benefit Obligations ($13,555,000) LOSS ON DISPOSAL OF PROPERTY ($4,086,000) CHANGES IN FAIR VALUE OF INTEREST RATE SWAP ($14,743,000) --------------- TOTAL ($32,384,000) Form 990, Part XII, Line 1 IN ACCORDANCE WITH IRS INSTRUCTIONS, FORM 990 AND ALL SCHEDULES THEREIN (WITH THE EXCEPTION OF REQUIRED CALENDAR-YEAR REPORTING FOR COMPENSATION), HAVE BEEN COMPLETED ON THE ACCRUAL BASIS CONSISTENT WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. CIT MICROPROBE HOLDINGS LLC 1200 E CALIFORNIA BLVD PASADENA CA 91125 205217981 HOLDING CO. NV -141000 1516000 CIT WILSON AVENUE INVESTMENTS LLC 515 SOUTH FIGUEROA ST 9TH FLOOR LOS ANGELES CA 90017 461712999 HOLDING CO. DE 1875000 CIT CALTECH Y 1201 E CALIFORNIA BLVD PASADENA CA 91125 951684790 recreation CA 501(C)(3) 11,3,fi NA false ALUMNI ASSOCIATION OF CALTECH 345 S HILL AVE PASADENA CA 91125 956047395 alumni CA 501(C)(3) 11,type 1 NA false TOM AND VALLEY KNUDSEN FDN C/O CALTECH GIFT PLANNING PASADENA CA 91125 956031188 support org CA 501(C)(3) 11,type 1 NA false CRAT (6) CHARITABLE TR CA CALTECH TRUST true CRUT (119) CHARITABLE TR CA CALTECH TRUST true false true true false false false false false false true false true false true true false false false false FORM 990, SCHEDULE R, PART V, LINE 1L THE INSTITUTE ALLOWS THE CALTECH ALUMNI ASSOCIATION THE USE OF FACILITIES ON CAMPUS FREE OF CHARGE. THE CALTECH ALUMNI ASSOCIATION IS A RELATED ORGANIZATION WHOSE MISSION IS TO PROVIDE EDUCATIONAL AND OTHER PROGRAMS FOR CALTECH ALUMNI AND STUDENTS. THE INSTITUTE PROVIDES DIRECT ADMINISTRATIVE SUPPORT FREE OF CHARGE TO BOTH THE TOM AND VALLEY KNUDSEN FOUNDATION, A RELATED PHILANTHROPIC FOUNDATION, AND THE CALIFORNIA INSTITUTE OF TECHNOLOGY RETIREE MEDICAL PLAN FOR JPL RETIREES VEBA TRUST, A VOLUNTARY EMPLOYEES' BENEFICIARY ASSOCIATION ORGANIZED BY THE INSTITUTE THAT OPERATES IN CONJUNCTION WITH AN INSTITUTE-SPONSORED POSTRETIREMENT BENEFIT PLAN FOR JPL RETIREES.