Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1a · Federated campaigns

  $13,239

• 1c · Fundraising events

  $2,506,369

• 1d · Related organizations

  $2,294,100

• 1e · Government grants (contributions)

  $2,024,597

• 1f · All other contributions, gifts and grants

  $64,743,806

• 1g · Noncash contributions included above

  $9,679,462

• 2a · Program service revenue: TUITION FEES

  total $475,206,711 · related or exempt $475,206,711

• 2b · Program service revenue: AUXILIARY ACTIVITIES

  total $54,747,717 · related or exempt $54,747,717

• 2c · Program service revenue: FED GRANTS & CONTRACTS

  total $15,517,620 · related or exempt $15,517,620

• 2d · Program service revenue: PROGRAM FEES

  total $7,203,154 · related or exempt $7,203,154

• 2e · Program service revenue: PROGRAM SALES INCOME

  total $4,339,470 · related or exempt $4,339,470

• 2f · All other program service revenue

  total $954,273 · unrelated business $954,273

• 3 · Investment income

  total $26,063,679 · unrelated business $76,415 · excluded $25,987,264

• 7a · Gross sales of assets other than inventory

  securities $194,758,396

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

  securities $168,877,465 · other assets $225,686

• 7c · Gain or loss

  securities $25,880,931 · other assets -$225,686

• 7d · Net gain or loss

  total $25,655,245 · unrelated business $276,263 · excluded $25,378,982

• 8a · Fundraising events: gross income

  $1,263,720

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

  $2,506,369

• 8b · Fundraising events: direct expenses

  $2,843,126

• 8c · Net income from fundraising events

  total -$1,579,406 · excluded -$1,579,406

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $179,657 · program services $179,657

• 2 · Grants to domestic individuals

  total $138,840,050 · program services $138,840,050

• 5 · Compensation of officers, directors and key employees

  total $7,039,927 · program services $1,314,194 · management and general $4,986,986 · fundraising $738,747

• 6 · Compensation of disqualified persons

  total $319,873 · program services $319,873

• 7 · Other salaries and wages

  total $228,562,698 · program services $195,427,350 · management and general $22,548,713 · fundraising $10,586,635

• 8 · Pension plan contributions

  total $19,098,434 · program services $15,988,513 · management and general $2,190,974 · fundraising $918,947

• 9 · Other employee benefits

  total $40,531,045 · program services $33,634,154 · management and general $5,323,814 · fundraising $1,573,077

• 10 · Payroll taxes

  total $15,792,687 · program services $13,320,941 · management and general $1,705,427 · fundraising $766,319

• 11b · Fees: legal

  total $1,322,998 · program services $289,703 · management and general $1,033,295

• 11c · Fees: accounting

  total $399,402 · management and general $399,402

• 11d · Fees: lobbying

  total $5,203 · management and general $5,203

• 11f · Fees: investment management

  total $4,801,017 · management and general $4,801,017

• 11g · Fees: other

  total $34,749,248 · program services $30,211,953 · management and general $3,199,083 · fundraising $1,338,212

• 12 · Advertising and promotion

  total $1,675,553 · program services $1,391,043 · management and general $216,272 · fundraising $68,238

• 13 · Office expenses

  total $22,533,338 · program services $19,314,370 · management and general $2,677,223 · fundraising $541,745

• 16 · Occupancy

  total $11,178,103 · program services $10,013,540 · management and general $1,158,287 · fundraising $6,276

• 17 · Travel

  total $9,124,872 · program services $8,504,272 · management and general $308,468 · fundraising $312,132

• 19 · Conferences, conventions and meetings

  total $14,244,592 · program services $8,586,863 · management and general $4,713,290 · fundraising $944,439

• 20 · Interest

  total $15,264,577 · program services $14,701,636 · management and general $562,941

• 22 · Depreciation, depletion and amortization

  total $52,762,326 · program services $49,801,223 · management and general $2,957,452 · fundraising $3,651

• 23 · Insurance

  total $11,932,696 · program services $7,251,170 · management and general $4,662,068 · fundraising $19,458

• 24a · Other expenses: IT SOFTWARE & MAINTENAN

  total $6,777,244 · program services $4,169,573 · management and general $2,471,720 · fundraising $135,951

• 24b · Other expenses: LIBRARY ACQUISITIONS

  total $4,665,481 · program services $4,665,481

• 24c · Other expenses: DUES AND MEMBERSHIPS

  total $1,062,546 · program services $650,666 · management and general $323,039 · fundraising $88,841

• 24d · Other expenses: INDIRECT COSTS SPONSORE

  total $967,306 · program services $965,745 · management and general $1,561

• 24e · All other expenses

  total $5,975,907 · program services $5,580,076 · management and general $109,061 · fundraising $286,770

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $57,039,091 · end of year $59,830,655

• 2 · Savings and temporary cash investments

  beginning of year $118,738,237 · end of year $142,796,675

• 3 · Pledges and grants receivable

  beginning of year $51,533,817 · end of year $55,529,830

• 4 · Accounts receivable

  beginning of year $8,385,591 · end of year $14,041,440

• 5 · Loans and receivables from officers and key people

  beginning of year $905,928 · end of year $761,405

• 8 · Inventories for sale or use

  beginning of year $860,274 · end of year $862,914

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

  $1,719,706,223

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

  $637,006,525

• 10c · Land, buildings and equipment, net

  beginning of year $1,092,916,138 · end of year $1,082,699,698

• 11 · Investments: publicly traded securities

  beginning of year $520,691,724 · end of year $551,935,286

• 12 · Investments: other securities

  beginning of year $1,011,002,482 · end of year $1,055,885,332

• 13 · Investments: program-related

  beginning of year $1,700,253 · end of year $1,700,253

• 15 · Other assets

  beginning of year $34,900,958 · end of year $29,533,006

• 17 · Accounts payable and accrued expenses

  beginning of year $58,550,225 · end of year $67,146,880

• 19 · Deferred revenue

  beginning of year $28,624,779 · end of year $24,262,935

• 20 · Tax-exempt bond liabilities

  beginning of year $313,112,902 · end of year $297,181,455

• 25 · Other liabilities

  beginning of year $203,718,082 · end of year $214,335,738

• 27 · Net assets without donor restrictions

  beginning of year $1,022,628,592 · end of year $1,045,186,420

• 28 · Net assets with donor restrictions

  beginning of year $1,272,039,913 · end of year $1,347,463,066

The filer's explanations (Part III)

PART I, LINE 1A

THE UNIVERSITY PROVIDED FIRST-CLASS TRAVEL TO EMPLOYEES FOR INTERNATIONAL TRAVEL IN ACCORDANCE WITH OUR POLICY. NO PORTION IS TAXABLE TO THE EMPLOYEE. THE UNIVERSITY ALSO PROVIDED GOLF MEMBERSHIPS TO INDIVIDUALS WHO HAVE RESPONSIBILITY FOR FUNDRAISING. THERE IS NO WRITTEN POLICY REGARDING GOLF MEMBERSHIPS. THE UNIVERSITY HAS PROCEDURES IN PLACE TO ENSURE THAT NO PERSONAL CHARGES ARE REIMBURSED AND NO PORTION IS TAXABLE TO THE EMPLOYEE. RENTAL/HOUSING ASSISTANCE MAY BE PROVIDED IN ACCORDANCE WITH UNIVERSITY COMPENSATION POLICIES, AND IS CONSIDERED TAXABLE INCOME. SUCH ASSISTANCE MAY BE PROVIDED IN THE FORM OF UNIVERSITY FUND PROMISSORY NOTES (SEE SCHEDULE L FOR FURTHER DETAIL), AND THESE AMOUNTS ARE CONSIDERED TAXABLE INCOME.

PART I, LINE 7

VARIOUS UNIVERSITY EMPLOYEES INCLUDED ON SCHEDULE J RECEIVED BONUS PAYMENTS FOR THEIR SERVICES AND PERFORMANCE DURING THE FISCAL YEAR.

Disregarded entities

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

• ADOBE MANAGEMENT A LLC

  INVESTING PURPOSES · DE · income -$99,267 · assets $3,803,318

  Directly controlled by SANTA CLARA UNIVERSITY

Related partnerships

Part III: related organizations taxable as a partnership, with the filer's share.

• MAKENA STRATEGIC OPPORTUNITIES FUND - KH LP

  REVENUE EXCLUDED · INVESTING PURPOSES · DE · 73.66% owned · share of income $504,608 · share of assets $16,622,263

  Directly controlled by SANTA CLARA UNIVERSITY

Related corporations and trusts

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

• CHARITABLE REMAINDER TRUST (21)

  T · HOLDINGS · CA