2016-05-16T08:51:19-05:00 2015-06-30 990 2014-07-01 231352630 DREXEL UNIVERSITY DREX 2158952000 3201 ARCH STREET NO 420 PHILADELPHIA PA 191042875 HELEN Y BOWMAN EXECUTIVE VP, TREASURER & COO 2158952803 2016-05-16 2014 2016-08-17 19:52:53Z JOHN A FRY 3141 CHESTNUT ST PHILADELPIA PA 19104 1817290476 0 X WWW.DREXEL.EDU X 1894 PA INTEGRATED ACADEMIC OFFERINGS ENHANCED BY TECHNOLOGY, COOPERATIVE EDUCATION AND CLINICAL PRACTICE 54 43 12902 2007 5969957 2311843 114184550 167363697 803242706 1050285256 75991061 28667487 12842342 24520026 1006260659 1270836466 244811659 285457513 0 0 412967814 604125531 148057 187686 14779011 273390438 309535474 931317968 1199306204 74942691 71530262 1533325554 1943620563 728415365 827926902 804910189 1115693661 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. 1 0 789780614 273092437 947728440 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 70 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 2014-2015 = 16,896GRADUATE AND PROFESSIONAL ENROLLMENT FOR ACADEMIC YEAR 2014-2015 = 9,463 NUMBER OF DEGREES CONFERRED IN ACADEMIC YEAR 2014-2015: ASSOCIATE DEGREES = 23 BACHELOR'S DEGREES = 3,515 MASTER'S DEGREES = 2,440 DOCTORAL DEGREES = 675 CERTIFICATES AND OTHER = 404 128850159 12364077 15398211 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 $101 MILLION IN FY2015. DREXEL HAS DEEP EXPERTISE IN TRANSLATIONAL RESEARCH, WHICH IS RIGOROUS ACADEMIC WORK THAT TANGIBLY TRANSLATES INTO INTELLECTUAL PROGRESS AND SOCIAL GOOD. RANKED NUMBER 52ND AMONG UNIVERSITIES WORLDWIDE FOR THE NUMBER OF U.S. PATENTS ISSUED IN 2014, 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 THE INNOVATION NEIGHBORHOOD, A DREXEL 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 DECEMBER 2014, THE UNIVERSITY'S URBAN DESIGN & HEALTH TEAM WAS NAMED AN INAUGURAL MEMBER OF THE AMERICAN INSTITUTE OF ARCHITECTS DESIGN & HEALTH RESEARCH CONSORTIUM INVESTIGATING HOW DESIGN AFFECTS PUBLIC HEALTH IN COMMUNITIES. THE DREXEL TEAM FEATURES INTERDISCIPLINARY COLLABORATION AMONG FACULTY FROM THE DORNSIFE SCHOOL OF PUBLIC HEALTH AND THE WESTPHAL COLLEGE OF MEDIA ARTS & DESIGN.DURING FY15, DREXEL UNIVERSITY CONDUCTED RESEARCH ON THE FOLLOWING RESEARCH GRANTS:FEDERALLY SPONSORED RESEARCH - 1,039 GRANTSSTATE OF PENNSYLVANIA SPONSORED RESEARCH - 105 GRANTSCITY OF PHILADELPHIA CONTRACTS - 24 GRANTSPRIVATE FOUNDATION SPONSORED RESEARCH - 386 GRANTSINDUSTRY SPONSORED RESEARCH - 257 GRANTS 140971143 1000 105310951 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. 1059601916 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 1 0 0 0 1 1 0 1 1 1 1 0 0 1 1 1 1 0 0 1 X 27524 0 1 12902 1 1 1 1 EK 1 1 1 0 1 1 0 0 0 0 X 54 43 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 ROBERT R BUCKLEY 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 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 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 NICHOLAS S SCHORSCH 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 BEACHELL TRUSTEE 2.00 X 0 0 0 JAMES BEAN TRUSTEE 2.00 X 0 0 0 THOMAS CARAMANICO TRUSTEE 2.00 X 0 0 0 ANTHONY NOCE TRUSTEE 2.00 X 0 0 0 JOHN A FRY PRESIDENT 40.00 X X 1267218 0 241688 RAPHAEL C LEE TRUSTEE 2.00 X 0 0 0 JOSEPH 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 0 CARL M BUCHHOLZ TRUSTEE 2.00 X 0 0 0 DOMENIC M DIPIERO III TRUSTEE 2.00 X 0 0 0 CYNTHIA P HECKSCHER TRUSTEE 2.00 X 0 0 0 ALAN C KESSLER TRUSTEE 2.00 X 0 0 0 THOMAS R KLINE TRUSTEE 2.00 X 0 0 0 ROBERT LEWIS 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 JOEL KOPPELMAN TRUSTEE 2.00 X 0 0 0 R JOHN CHAPEL JR TRUSTEE 2.00 X 0 0 0 RICHARD 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 IRA M TAFFER TRUSTEE 2.00 X 62165 0 12988 MICHAEL J EXLER ESQ SECRETARY 40.00 X 404711 0 45940 HELEN BOWMAN EXECUTIVE VP/TREASURER/COO 40.00 X 571692 0 40740 MARK GREENBERG PROVOST 40.00 X 602572 0 45940 JAMES TUCKER SVP ADMININSTRATION & BUSINESS SERVICES 40.00 X 465238 0 29296 DONNA MURASKO PHD DEAN-SCHOOL OF ARTS & SCIE 40.00 X 344381 0 45940 BRIAN KEECH SVP GOVERNMENT & COMMUNITY RELATIONS 40.00 X 263276 0 40719 LORI DOYLE SVP UNIVERSITY COMMUNICATI 40.00 X 454079 0 45908 JOSEPH B HUGHES DEAN-COLLEGE OF ENGINEERIN 40.00 X 373052 0 40756 KEITH A ORRIS SVP CORPORATE RELATIONS & ECONOMIC DEVELOPMENT 40.00 X 423264 0 42110 DANIEL SCHIDLOW DEAN AND SVP, MEDICAL AFFAIRS 40.00 X 685973 0 29913 JAMES HERBERT INTERIM PROVOST 40.00 X 268675 0 45739 SUSAN ALDRIDGE SVP, ONLINE LEARNING AND PRESIDENT DEL 40.00 X 498966 0 37402 RANDALL DEIKE SVP, ENROLLMENT MGMT & STUDENT SUCCESS 40.00 X 252951 0 3819 PETER FRISKO INTERIM SVP, INSTITUTIONAL ADVANCEMENT 40.00 X 359035 0 32202 D SCOTT LIND CHAIRMAN OF THE DEPARTMENT OF SURGERY 40.00 X 543614 0 45220 OWEN MONTGOMERY CHAIR, OBSTETRICS AND GYNECOLOGY DEPARTMENT 40.00 X 518692 0 29296 LYDIA KOMARNICKY-KOCHER PROFESSOR AND CHAIR OF RADIATION ONCOLOGY 40.00 X 508214 0 45220 JAMES REYNOLDS CHAIR, GASTROENTEROLOGY 40.00 X 506134 0 45148 GLENN LAUB CHAIRMAN OF CARDIOTHORACIC SURGERY 40.00 X 657082 0 45148 JOAN MCDONALD FORMER - SVP ENROLLMENT MANAGEMENT 40.00 X 356526 0 37552 10387510 0 1028684 1155 1 1 0 SODEXO SERVICES 203 N 34TH STREET PHILADELPHIA PA 19104 FOOD SERVICES 15745101 P AGNES INC 2101 PENROSE AVE PHILADELPHIA PA 19145 CONSTRUCTION SERVICES 8898313 INTECH CONSTRUCTION INC 3001 MARKET ST STE 140 PHILADELPHIA PA 19104 CONSTRUCTION SERVICES 7057763 GCA SERVICES GROUP PO BOX 643823 PITTSBURGH PA 15264 CLEANING SERVICES 6256221 ALLIED BARTON SECURITY SERVICES TOTAL PO BOX 828854 CHICAGO IL 606774400 SECURITY SERVICES 5543907 141 1239641 2521767 91824625 71777664 9128455 167363697 TUITION AND FEES 900099 851933777 851933777 PATIENT CARE 621110 103198664 103198664 AUXILIARY ENTERPRISES 611710 73259026 73259026 OTHER PROGRAM SERVICES 611710 17372206 17372206 EDUCATIONAL ACTIVITIES 611600 4521583 4521583 1050285256 28348914 28348914 5229 5229 249927 249927 695698 226145 469553 469553 469553 545984000 545670656 313344 313344 313344 235452 1239641 557209 -321757 -321757 MISCELLANEOUS REVENUE 900099 19846804 17226609 2620195 APPLICATION SVC PROG 541519 3615782 3615782 STUDENT FEES & FINES 900099 925737 925737 -266020 -266020 24122303 1270836466 1068437602 5969957 29065210 12258342 12258342 232299076 232299076 40900095 40900095 8356978 2383408 5130593 842977 466943726 404979264 53821325 8143137 36515067 31540290 4312636 662141 61848527 53054205 7630068 1164254 30461233 26107197 3778131 575905 1127719 707500 420219 1970639 441977 1528662 788891 101365 687526 738207 738207 187686 187686 2522082 2522082 39342148 33510089 5175276 656783 2619256 1975402 637407 6447 48010342 41391520 6081821 537001 23693754 18144778 5377352 171624 3230578 3050079 180499 57510675 45660554 11842202 7919 14010358 12903009 817395 289954 7194967 6190701 779836 224430 17974224 16331452 1642772 3317984 847011 2253432 217541 41664561 37866214 3798347 13492710 10035512 3139653 317545 BAD DEBT EXPENSE 13023661 13023661 MISCELLANEOUS 4967109 4084327 798326 84456 PROFESSIONAL MEMBERSHIP 2126648 1679181 390161 57306 RECRUITING 1814755 1120192 686439 8124 8394206 6277308 1493117 623781 1199306204 1059601916 124925277 14779011 26819 57212 44637572 83963502 105302331 131810163 79957083 106876041 54000 36000 11272891 14585708 1277698051 419547461 789117747 858150590 392168431 582371809 81716000 109456000 25674774 35482116 3397906 20831422 1533325554 1943620563 142818828 217907696 102799810 118264969 428346444 439121189 85936 0 54364347 52633048 728415365 827926902 X 503230902 810582374 176691055 170777055 124988232 134334232 804910189 1115693661 1533325554 1943620563 X 71530262 -8415157 247668367 X X 0 1 X 1 1 1 X 185526251 137370616 127243677 114184550 167363697 731688791 185526251 137370616 127243677 114184550 167363697 731688791 56682734 675006057 4718165 13009359 49791098 76870624 29299768 173689014 2521250 1586436 2533206 2917742 9558634 914936439 3964811646 0.73780 0.78290 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 0 0 1 176451 0 0 1 561756 0 0 738207 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 CONJUNCTION WITH THE STUDENT GOVERNMENT ASSOCIATION. LINE D - MAILINGS TO MEMBERS, LEGISLATORS OR THE PUBLIC: IN CASES WHERE LEGISLATION MAY OR WILL AFFECT THE UNIVERSITY, ITS SUBSIDIARIES OR HIGHER EDUCATION 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. 10918587 X X X X WORKSHOPS/CLASS PROJECTS 0 421686000 172402000 14441000 5726137 17225863 585577000 390238000 -7443000 56103000 4458144 12753856 421686000 364097000 13767000 28541000 4427242 11739758 390238000 382586000 4517000 1307000 4420686 19892314 364097000 305402000 35214000 58733000 4275410 12487590 382586000 0.35660 0.38690 0.25650 0 0 101329323 101329323 908330699 239495477 668835222 50120291 31964328 18155963 142548774 95650194 46898580 75368964 52437462 22931502 858150590 ALTERNATIVE INVESTMENTS 70636000 F REAL ESTATE & REAL ASSETS 38820000 F 109456000 DEPOSITS 21316159 GOVERNMENT ADVANCES FOR STUDENT LOANS 28513334 CAPITAL LEASE, ARMORY 2803555 52633048 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 LIMITED 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 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. HOWEVER, DEL, A FOR-PROFIT SUBSIDIARY OF THE UNIVERSITY, DOES RECORD A PROVISION FOR INCOME TAXES WHICH IS IMMATERIAL TO THE UNIVERSITY'S CONSOLIDATED 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 INCUR ACTIVITIES THAT ARE SUBJECT TO UNRELATED BUSINESS INCOME TAXES FOR WHICH APPROPRIATE INCOME TAX RETURNS ARE FILED (NOTE 16). 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. 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 17061 NORTH AMERICA 0 0 PROGRAM SERVICES ATHLETICS 597 EUROPE 0 0 BUSINESS 1617 EUROPE 0 0 FUNDRAISING 2197 EAST ASIA AND THE PACIFIC 0 0 FUNDRAISING 11734 SOUTH ASIA 0 0 FUNDRAISING 1589 SOUTH ASIA 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 23472 EUROPE 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 190084 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 70229 SOUTH AMERICA 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 3587 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 6549 CENTRAL AMERICA 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 11063 RUSSIA 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 1666 MIDDLE EAST & NORTH AFRICA 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 5736 SOUTH ASIA 0 0 PROGRAM SERVICES RECRUITING 34914 EUROPE 0 0 PROGRAM SERVICES RECRUITING 10259 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES RECRUITING 153747 SOUTH AMERICA 0 0 PROGRAM SERVICES RECRUITING 12897 NORTH AMERICA 0 0 PROGRAM SERVICES RECRUITING 6623 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES RECRUITING 5947 CENTRAL AMERICA 0 0 PROGRAM SERVICES RECRUITING 1020 MIDDLE EAST & NORTH AFRICA 0 0 PROGRAM SERVICES RECRUITING 9453 SOUTH ASIA 0 0 PROGRAM SERVICES RESEARCH 4143 EUROPE 0 0 PROGRAM SERVICES RESEARCH 97837 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES RESEARCH 38614 SOUTH AMERICA 0 0 PROGRAM SERVICES RESEARCH 6396 NORTH AMERICA 0 0 PROGRAM SERVICES RESEARCH 20639 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES RESEARCH 7762 CENTRAL AMERICA 0 0 PROGRAM SERVICES RESEARCH 7562 MIDDLE EAST & NORTH AFRICA 0 0 PROGRAM SERVICES RESEARCH 2618 EUROPE 0 0 PROGRAM SERVICES STUDY ABROAD 795444 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD 6660 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES ATHLETICS 808 CENTRAL AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 21810 NORTH AMERICA 0 0 PROGRAM SERVICES CONFERENCES/TRAVEL 52230 RUSSIA 0 0 PROGRAM SERVICES RECRUITING 2213 NORTH AMERICA 0 0 PROGRAM SERVICES STUDY ABROAD 58340 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD 11047 SOUTH AMERICA 0 0 BUSINESS 1532 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES ATHLETICS 9499 NORTH AMERICA 0 0 BUSINESS 1630 0 0 0 0 0 0 248351 1480474 1728825 EUROPE RESEARCH 451440 WIRE/CHECK MIDDLE EAST AND NORTH AFRICA RESEARCH 10000 CHECK SOUTH ASIA RESEARCH 39798 WIRE EAST ASIA AND THE PACIFIC RESEARCH 415758 WIRE/CHECK NORTH AMERICA RESEARCH 6338 CHECK SUB-SAHARAN AFRICA RESEARCH 10918 WIRE 7 2 SCHOLARSHIPS CENTRAL AMERICA AND THE CARIBBEAN 64 867763 CREDIT TO STUDENT ACCOUNTS 0 SCHOLARSHIPS EAST ASIA AND THE PACIFIC 1558 17904186 CREDIT TO STUDENT ACCOUNTS 0 SCHOLARSHIPS EUROPE 249 4824407 CREDIT TO STUDENT ACCOUNTS 0 SCHOLARSHIPS MIDDLE EAST AND NORTH AFRICA 134 1807179 CREDIT TO STUDENT ACCOUNTS 0 SCHOLARSHIPS NORTH AMERICA 74 1331830 CREDIT TO STUDENT ACCOUNTS 0 SCHOLARSHIPS RUSSIA AND NEWLY INDEPENDENT STATES 64 1122748 CREDIT TO STUDENT ACCOUNTS 0 SCHOLARSHIPS SOUTH AMERICA 105 2012931 CREDIT TO STUDENT ACCOUNTS 0 SCHOLARSHIPS SOUTH ASIA 558 7266362 CREDIT TO STUDENT ACCOUNTS 0 SCHOLARSHIPS SUB-SAHARAN AFRICA 184 2827186 CREDIT TO STUDENT ACCOUNTS 0 STUDENT AWARD EUROPE 1 1250 WIRE 0 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 802218 0 225000 0 240000 0 224276 0 17412 0 1508906 0 0 0 MICHAEL J EXLER ESQ SECRETARY 338711 0 66000 0 0 0 28600 0 17340 0 450651 0 0 0 HELEN BOWMAN EXECUTIVE VP/TREASURER/COO 471692 0 100000 0 0 0 23400 0 17340 0 612432 0 0 0 MARK GREENBERG PROVOST 542572 0 60000 0 0 0 28600 0 17340 0 648512 0 0 0 JAMES TUCKER SVP ADMININSTRATION & BUSINESS SERVI 385238 0 80000 0 0 0 28600 0 696 0 494534 0 0 0 DONNA MURASKO PHD DEAN-SCHOOL OF ARTS & SCIE 344381 0 0 0 0 0 28600 0 17340 0 390321 0 0 0 BRIAN KEECH SVP GOVERNMENT & COMMUNITY RELATIONS 243276 0 20000 0 0 0 23400 0 17319 0 303995 0 0 0 LORI DOYLE SVP UNIVERSITY COMMUNICATI 399079 0 55000 0 0 0 28600 0 17308 0 499987 0 0 0 JOSEPH B HUGHES DEAN-COLLEGE OF ENGINEERIN 343052 0 30000 0 0 0 23400 0 17356 0 413808 0 0 0 KEITH A ORRIS SVP CORPORATE RELATIONS & ECONOMIC D 354262 0 65000 0 4002 0 28600 0 13510 0 465374 0 0 0 DANIEL SCHIDLOW DEAN AND SVP, MEDICAL AFFAIRS 610973 0 75000 0 0 0 28600 0 1313 0 715886 0 0 0 JAMES HERBERT INTERIM PROVOST 268675 0 0 0 0 0 28600 0 17139 0 314414 0 0 0 SUSAN ALDRIDGE SVP, ONLINE LEARNING AND PRESIDENT D 355933 0 100000 0 43033 0 28600 0 8802 0 536368 0 0 0 RANDALL DEIKE SVP, ENROLLMENT MGMT & STUDENT SUCCE 202951 0 50000 0 0 0 0 0 3819 0 256770 0 0 0 PETER FRISKO INTERIM SVP, INSTITUTIONAL ADVANCEME 319035 0 40000 0 0 0 23400 0 8802 0 391237 0 0 0 D SCOTT LIND CHAIRMAN OF THE DEPARTMENT OF SURGER 506114 0 37500 0 0 0 28600 0 16620 0 588834 0 0 0 OWEN MONTGOMERY CHAIR, OBSTETRICS AND GYNECOLOGY DEP 473692 0 45000 0 0 0 28600 0 696 0 547988 0 0 0 LYDIA KOMARNICKY-KOCHER PROFESSOR AND CHAIR OF RADIATION ONC 508214 0 0 0 0 0 28600 0 16620 0 553434 0 0 0 JAMES REYNOLDS CHAIR, GASTROENTEROLOGY 506134 0 0 0 0 0 28600 0 16548 0 551282 0 0 0 GLENN LAUB CHAIRMAN OF CARDIOTHORACIC SURGERY 632082 0 25000 0 0 0 28600 0 16548 0 702230 0 0 0 JOAN MCDONALD FORMER - SVP ENROLLMENT MANAGEMENT 336526 0 20000 0 0 0 28600 0 8952 0 394078 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 THE UNIVERSITY WILL PROVIDE JOHN FRY WITH DEFERRED COMPENSATION. THE UNIVERSITY SHALL CREDIT MR. FRY WITH $100,000 ON JULY 31, 2011, AND ON EACH FOLLOWING JULY 31 THROUGH 2015 WHILE HE REMAINS EMPLOYED BY THE UNIVERSITY AS PRESIDENT AND CHIEF EXECUTIVE OFFICER. VESTING AND PAYMENT OF THE DEFERRED COMPENSATION, AS ADJUSTED FOR EARNINGS, GAINS, AND LOSSES BASED ON DEEMED INVESTMENT OPTIONS SELECTED IN ADVANCE BY MR. FRY, SHALL OCCUR ON JULY 31, 2015, 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 JULY 31, 2015 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, 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 WITH THE UNIVERSITY PRIOR TO JULY 31, 2015, OR THE UNIVERSITY TERMINATES MR. FRY'S EMPLOYMENT FOR CAUSE, THE DEFERRED COMPENSATION SHALL BE FORFEITED. IN ADDITION, 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. PETER 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. 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. 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. THE TOTAL AMOUNT OF EACH DEPARTMENT'S INCENTIVE POOL IS REPORTED TO THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES ON AN ANNUAL BASIS. 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. ADMINISTRATIVE BONUSES FOR THE KEY EMPLOYEE OF THE MEDICAL SCHOOL IS REVIEWED AND APPROVED BY THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. 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 6450000 33242964 415332 32827632 1 0 1 1 B 9080000 161954495 1386270 101469764 59095696 2014 1 0 0 1 C 3655000 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 0.00600 0.00300 0.00900 0 0 1 B 0 1 1 1 0 0.00000 0.00100 0.00100 0 0 1 C 0 0 0 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 SCHEDULE K SUPPLENTAL INFORMATION PART II, LINE 3, COLUMNS B, C & D: 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 6/5/2013, WHICH WAS DETERMINED THE ISSUE MET THE 6 MONTH SPENDING EXCEPTION. PART IV, LINE 2C, COLUMN B: THE FINAL REBATE REPORT WAS COMPLETED ON 6/7/2013. 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 9/28/2010. PART II, LINE 3, COLUMNS A & B: 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 10/1/2015. PART IV, LINE 2C, COLUMN B: THE FINAL REBATE REPORT WAS PERFORMED AS OF 08/16/2012. 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DREXEL SCHOLARSHIP EDUCATIONAL 63738 TUITION REMISSION EDUCATIONAL PECO ENERGY COMPANY TRUSTEE 1266653 ELECTRICITY 0 DR MIMI B SHELLER FAMILY MEMBER OF TRUSTEE 139563 COMPENSATION 0 VICTOR TRINGALI FAMILY MEMBER OF TRUSTEE 126482 COMPENSATION 0 PENNONI ASSOCIATES INC TRUSTEE 160100 ENGINEERING 0 KIERA MURASKO-BLANK KEY EMPLOYEE 45072 COMPENSATION 0 NEWPORT CAPITAL GROUP LLC TRUSTEE 140000 CONSULTANT 0 X 34000 FAIR MARKET VALUE X 59 3232735 FAIR MARKET VALUE X 1 5400000 FAIR MARKET VALUE X OTHER GIFTS IN KIND 5 461720 FAIR MARKET VALUE 3 0 1 0 FORM 990, PART III, LINE 2 ON JULY 1, 2015 DREXEL UNIVERSITY MERGED WITH PHILADELPHIA HEALTH & EDUCATION CORPORATION D/B/A DREXEL UNIVERSITY COLLEGE OF MEDICINE (DUCOM) AND ASSUMED THE PROGRAM SERVICES ASSOCIATED WITH DUCOM. PATIENT CARE/PUBLIC SERVICE - IT 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. 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 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: CONTRIBUTION RECEIVABLE WRITE-OFF -131,696. PHEC FUND BALANCE AT END OF PRIOR YEAR - RESULT OF MERGER 247,800,063. 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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