Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $1,511,807

• 1d · Related organizations

  $232,523,008

• 1e · Government grants (contributions)

  $206,494,670

• 1f · All other contributions, gifts and grants

  $125,016,547

• 1g · Noncash contributions included above

  $5,486,393

• 2a · Program service revenue: GRANTS/CONTRACTS

  total $1,164,937,719 · excluded $1,164,937,719

• 2b · Program service revenue: TUITION

  total $968,389,674 · related or exempt $968,389,674

• 2c · Program service revenue: SALES-AUXILIARY

  total $151,923,202 · related or exempt $148,718,215 · unrelated business $3,204,987

• 2d · Program service revenue: SALES-EDUCATIONAL

  total $115,018,109 · related or exempt $113,150,200 · unrelated business $1,867,909

• 2e · Program service revenue: UNIVERSITY PRESS

  total $1,031,717 · related or exempt $1,031,717

• 3 · Investment income

  total $99,001,656 · excluded $99,001,656

• 5 · Royalties

  total $25,659,133 · excluded $25,659,133

• 6a · Gross rents

  real property $15,972,050

• 6b · Less rental expenses

  real property $12,543,861

• 6c · Rental income or loss

  real property $3,428,189

• 6d · Net rental income or loss

  total $3,428,189 · excluded $3,428,189

• 7a · Gross sales of assets other than inventory

  securities $2,636,316,394

• 7b · Less cost or other basis and sales expenses

  securities $2,594,004,549

• 7c · Gain or loss

  securities $42,311,845

• 7d · Net gain or loss

  total $42,311,845 · excluded $42,311,845

• 8a · Fundraising events: gross income

  $227,778

• 8a · Fundraising events: contributions included on line 1c

  $1,511,807

• 8b · Fundraising events: direct expenses

  $1,820,051

• 8c · Net income from fundraising events

  total -$1,592,273 · excluded -$1,592,273

• 9a · Gaming: gross income

  $284,860

• 9b · Gaming: direct expenses

  $185,645

• 9c · Net income from gaming

  total $99,215 · excluded $99,215

• 10a · Gross sales of inventory

  $9,534,396

• 10b · Cost of goods sold

  $6,637,537

• 10c · Net income from sales of inventory

  total $2,896,859 · related or exempt $1,895,962 · unrelated business $1,000,897

• 11a · Other revenue: PARTNERSHIP GAIN(LOSS)

  total $919,879 · unrelated business $919,879

• 11e · Other revenue, total

  $919,879

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $146,923,601 · program services $146,923,601

• 2 · Grants to domestic individuals

  total $275,299,420 · program services $275,299,420

• 3 · Grants to foreign organizations and individuals

  total $6,785,049 · program services $6,785,049

• 5 · Compensation of officers, directors and key employees

  total $7,345,183 · program services $1,091,347 · management and general $5,675,861 · fundraising $577,975

• 6 · Compensation of disqualified persons

  total $2,886,002 · program services $1,467,055 · management and general $1,260,102 · fundraising $158,845

• 7 · Other salaries and wages

  total $1,288,611,686 · program services $1,180,616,099 · management and general $90,818,725 · fundraising $17,176,862

• 8 · Pension plan contributions

  total $105,718,171 · program services $95,853,991 · management and general $8,176,935 · fundraising $1,687,245

• 9 · Other employee benefits

  total $206,992,451 · program services $187,167,679 · management and general $16,850,142 · fundraising $2,974,630

• 10 · Payroll taxes

  total $78,686,560 · program services $71,091,921 · management and general $6,342,240 · fundraising $1,252,399

• 11a · Fees: management

  total $524,822 · management and general $524,822

• 11b · Fees: legal

  total $15,492,435 · management and general $15,492,435

• 11c · Fees: accounting

  total $2,249,729 · management and general $2,249,729

• 11d · Fees: lobbying

  total $801,000 · program services $801,000

• 11e · Fees: professional fundraising services

  total $646,774 · fundraising $646,774

• 11f · Fees: investment management

  total $55,807,799 · management and general $55,807,799

• 11g · Fees: other

  total $239,668,378 · program services $207,112,673 · management and general $30,421,048 · fundraising $2,134,657

• 12 · Advertising and promotion

  total $2,307,877 · program services $2,295,945 · fundraising $11,932

• 13 · Office expenses

  total $134,501,430 · program services $133,760,669 · fundraising $740,761

• 14 · Information technology

  total $57,073,336 · program services $56,957,753 · management and general $20,034 · fundraising $95,549

• 16 · Occupancy

  total $160,959,299 · program services $147,714,940 · management and general $11,840,355 · fundraising $1,404,004

• 17 · Travel

  total $62,975,777 · program services $62,139,470 · fundraising $836,307

• 19 · Conferences, conventions and meetings

  total $6,927,438 · program services $6,840,497 · fundraising $86,941

• 20 · Interest

  total $58,750,716 · program services $54,859,505 · management and general $3,891,211

• 22 · Depreciation, depletion and amortization

  total $203,445,678 · program services $190,224,071 · management and general $13,221,607

• 23 · Insurance

  total $11,580,838 · program services $2,249,092 · management and general $9,320,036 · fundraising $11,710

• 24a · Other expenses: LIBRARY

  total $9,409,636 · program services $9,409,636

• 24b · Other expenses: DUES AND FEES

  total $5,772,219 · program services $4,477,169 · management and general $1,244,396 · fundraising $50,654

Balance sheet

Part X, book values.

• 2 · Savings and temporary cash investments

  beginning of year $1,111,206,572 · end of year $798,356,609

• 3 · Pledges and grants receivable

  beginning of year $69,687,774 · end of year $67,381,342

• 4 · Accounts receivable

  beginning of year $258,011,485 · end of year $394,640,727

• 7 · Other notes and loans receivable

  beginning of year $26,635,921 · end of year $25,576,359

• 8 · Inventories for sale or use

  beginning of year $5,635,697 · end of year $4,320,740

• 9 · Prepaid expenses and deferred charges

  beginning of year $24,449,677 · end of year $26,063,767

• 10a · Land, buildings and equipment: cost or other basis

  $6,236,955,245

• 10b · Land, buildings and equipment: accumulated depreciation

  $3,596,623,451

• 10c · Land, buildings and equipment, net

  beginning of year $2,397,508,041 · end of year $2,640,331,794

• 11 · Investments: publicly traded securities

  beginning of year $1,317,461,960 · end of year $1,418,415,935

• 12 · Investments: other securities

  beginning of year $4,262,599,508 · end of year $4,125,445,852

• 15 · Other assets

  beginning of year $269,348,593 · end of year $180,009,297

• 17 · Accounts payable and accrued expenses

  beginning of year $793,298,700 · end of year $720,882,970

• 19 · Deferred revenue

  beginning of year $159,297,501 · end of year $181,846,040

• 20 · Tax-exempt bond liabilities

  beginning of year $95,718,550 · end of year $95,680,409

• 24 · Unsecured notes and loans payable

  beginning of year $1,367,985,653 · end of year $1,323,350,368

• 25 · Other liabilities

  beginning of year $599,558,361 · end of year $496,510,149

• 27 · Net assets without donor restrictions

  beginning of year $4,356,312,437 · end of year $4,554,839,416

• 28 · Net assets with donor restrictions

  beginning of year $2,370,374,026 · end of year $2,307,433,070

The filer's explanations (Part III)

PART I, LINE 1A

FIRST-CLASS OR CHARTER TRAVEL: THE UNIVERSITY USES CHARTER AIR TRAVEL PRIMARILY TO TRANSPORT THE FOOTBALL TEAM AND THE MEN'S AND WOMEN'S BASKETBALL TEAMS TO AWAY GAME VENUES. OCCASIONALLY, DUE TO TIME CONSTRAINTS, WEATHER CONCERNS, OR CLOSELY SEQUENCED COMMITMENTS, SENIOR MANAGEMENT MAY USE CHARTER AIR TRAVEL TO MEET PROFESSIONAL RESPONSIBILITIES. TRAVEL IS TREATED AS TAXABLE INCOME ON FORM W-2 IF NOT FOR BONA FIDE BUSINESS PURPOSES. TRAVEL FOR COMPANIONS: TRAVEL FOR COMPANIONS IS TREATED AS TAXABLE INCOME ON FORM W-2. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: CERTAIN SENIOR OFFICERS AT THE UNIVERSITY ARE ELIGIBLE FOR A HEALTH CARE PACKAGE UP TO A MAXIMUM AMOUNT OF $5,000 PER YEAR. THE REIMBURSEMENT IS "GROSSED-UP" FOR INCOME TAX PURPOSES. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: AS A CONDITION OF EMPLOYMENT, THE CHANCELLOR IS REQUIRED TO LIVE IN A RESIDENCE PROVIDED BY THE UNIVERSITY TO MEET WITH AND ENTERTAIN DONORS, PROSPECTIVE DONORS, INSTITUTIONAL SUPPORTERS, AND BUSINESS ASSOCIATES. USE OF THE RESIDENCE IS NOT CONSIDERED TAXABLE INCOME UNDER IRC SEC. 119(D). HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES: BECAUSE CERTAIN OFFICERS OF THE UNIVERSITY ARE REQUIRED TO ENTERTAIN DONORS, PROSPECTIVE DONORS, INSTITUTIONAL SUPPORTERS, AND BUSINESS ASSOCIATES, CLUB MEMBERSHIPS ARE PROVIDED. PERSONAL USE OF CLUB MEMBERSHIPS IS TREATED AS TAXABLE INCOME ON FORM W-2. PERSONAL SERVICES: FINANCIAL CONSULTING SERVICES UP TO A MAXIMUM AMOUNT OF $5,000 PER YEAR ARE PROVIDED TO CERTAIN SENIOR OFFICERS OF THE UNIVERSITY AND ARE TREATED AS TAXABLE INCOME ON FORM W-2.

PART I, LINE 4B

LINE 4B-SUPPLEMENTAL GTL INSURANCE PROGRAM FOR CERTAIN ACTIVE & RETIRED OFFICERS,INCLUDING A TAX GROSS-UP- A. LEVINE-$36,587.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

• 3441 F STREET LLC

  REAL ESTATE HOLDING COMPANY · DE · assets $1,966,101

  Directly controlled by STONE MANSION LLC

• LIFEX GLOBAL LLC

  LIFE SCIENCES INCUBATOR · PA · income $1,206,224 · assets $1,960,921

  Directly controlled by LIFEX HOLDINGS LLC

• LIFEX HOLDINGS LLC

  LIFE SCIENCES INCUBATOR HOLDING COMPANY · PA

  Directly controlled by UNIVERSITY OF PITTSBURGH

• STONE MANSION LLC

  REAL ESTATE HOLDING COMPANY · PA · assets $3,269

  Directly controlled by UNIVERSITY OF PITTSBURGH

• LIFEX VENTURES LLC

  LIFE SCIENCES INVESTMENT AND COMMERCIALIZATION COMPANY · PA · income $43,709 · assets $1,405,197

  Directly controlled by LIFEX HOLDINGS LLC

• LIFEX MANAGEMENT LLC

  LIFE SCIENCES INCUBATOR SERVICE PROVIDER · PA

  Directly controlled by LIFEX HOLDINGS LLC

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

• TSH CORPORATION

  C · DORMANT · PA · 5% owned · controlled entity

  Directly controlled by UNIVERSITY OF PITTSBURGH TRUST

• FORBES-SCHENLEY LAND COMPANY - EIN UNKNOWN

  C · DORMANT · PA · 100% owned · controlled entity

  Directly controlled by UNIVERSITY OF PITTSBURGH

• SCHENLEY PARK APARTMENTS COMPANY - EIN UNKNOWN

  C · DORMANT · PA · 100% owned · controlled entity

  Directly controlled by UNIVERSITY OF PITTSBURGH

• CARRILLO STEAM PRODUCTION ASSOCIATION LLC

  C · SERVICE CORPORATION TO MANAGE THE STEAM PLANT · PA · 75% owned · controlled entity

  Directly controlled by UNIVERSITY OF PITTSBURGH

• VINCENT PAYMENT SOLUTIONS

  C · PAYMENT SOLUTION PROVIDER · DE · 50% owned

  Directly controlled by UNIVERSITY OF PITTSBURGH

• CHARITABLE REMAINDER TRUSTS(1)

  CHARITABLE TRUST · PA · controlled entity

  Directly controlled by UNIVERSITY OF PITTSBURGH