Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $386,000

• 1d · Related organizations

  $51,901,000

• 1e · Government grants (contributions)

  $1,354,259,000

• 1f · All other contributions, gifts and grants

  $2,585,572,000

• 1g · Noncash contributions included above

  $1,507,242,000

• 2a · Program service revenue: CONTRACT REVENUE

  total $2,556,287,000 · related or exempt $2,556,287,000

• 2b · Program service revenue: TUITION AND FEES

  total $1,363,958,000 · related or exempt $1,363,958,000

• 2c · Program service revenue: CLINICAL SERVICES

  total $891,973,000 · related or exempt $891,973,000

• 2d · Program service revenue: REIMB. FROM AFFILIATES

  total $765,357,000 · related or exempt $765,357,000

• 2e · Program service revenue: SALES - AUXILIARY ENTP

  total $104,109,000 · related or exempt $104,039,000 · unrelated business $70,000

• 2f · All other program service revenue

  total $127,889,000 · related or exempt $113,616,000 · unrelated business $14,273,000

• 3 · Investment income

  total $171,634,000 · excluded $171,634,000

• 5 · Royalties

  total $50,343,000 · excluded $50,343,000

• 6a · Gross rents

  real property $8,012,000 · personal property $63,000

• 6b · Less rental expenses

  real property $0 · personal property $0

• 6c · Rental income or loss

  real property $8,012,000 · personal property $63,000

• 6d · Net rental income or loss

  total $8,075,000 · unrelated business $63,000 · excluded $8,012,000

• 7a · Gross sales of assets other than inventory

  securities $10,621,980,000

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

  securities $10,427,454,000 · other assets $267,000

• 7c · Gain or loss

  securities $194,526,000 · other assets -$267,000

• 7d · Net gain or loss

  total $194,259,000 · excluded $194,259,000

• 8a · Fundraising events: gross income

  $98,000

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

  $386,000

• 8b · Fundraising events: direct expenses

  $114,000

• 8c · Net income from fundraising events

  total -$16,000 · excluded -$16,000

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $404,971,000 · program services $404,971,000

• 2 · Grants to domestic individuals

  total $590,869,000 · program services $590,869,000

• 3 · Grants to foreign organizations and individuals

  total $76,021,000 · program services $76,021,000

• 5 · Compensation of officers, directors and key employees

  total $30,949,000 · program services $3,464,000 · management and general $25,852,000 · fundraising $1,633,000

• 6 · Compensation of disqualified persons

  total $5,976,000 · program services $1,853,000 · management and general $4,123,000

• 7 · Other salaries and wages

  total $3,549,766,000 · program services $3,299,394,000 · management and general $210,439,000 · fundraising $39,933,000

• 8 · Pension plan contributions

  total $299,147,000 · program services $286,020,000 · management and general $10,037,000 · fundraising $3,090,000

• 9 · Other employee benefits

  total $672,137,000 · program services $574,889,000 · management and general $90,607,000 · fundraising $6,641,000

• 10 · Payroll taxes

  total $151,006,000 · program services $134,674,000 · management and general $13,573,000 · fundraising $2,759,000

• 11a · Fees: management

  total $56,492,000 · program services $40,897,000 · management and general $14,936,000 · fundraising $659,000

• 11b · Fees: legal

  total $7,407,000 · program services $313,000 · management and general $7,093,000 · fundraising $1,000

• 11c · Fees: accounting

  total $2,449,000 · management and general $2,449,000

• 11d · Fees: lobbying

  total $858,000 · management and general $858,000

• 11e · Fees: professional fundraising services

  total $766,000 · fundraising $766,000

• 11f · Fees: investment management

  total $21,377,000 · management and general $21,377,000

• 11g · Fees: other

  total $720,802,000 · program services $580,860,000 · management and general $128,541,000 · fundraising $11,401,000

• 12 · Advertising and promotion

  total $36,656,000 · program services $27,513,000 · management and general $7,714,000 · fundraising $1,429,000

• 13 · Office expenses

  total $156,431,000 · program services $135,843,000 · management and general $15,968,000 · fundraising $4,620,000

• 14 · Information technology

  total $62,081,000 · program services $47,887,000 · management and general $12,010,000 · fundraising $2,184,000

• 15 · Royalties

  total $34,780,000 · program services $12,340,000 · management and general $22,307,000 · fundraising $133,000

• 16 · Occupancy

  total $137,342,000 · program services $108,895,000 · management and general $24,002,000 · fundraising $4,445,000

• 17 · Travel

  total $87,586,000 · program services $82,028,000 · management and general $3,535,000 · fundraising $2,023,000

• 19 · Conferences, conventions and meetings

  total $17,072,000 · program services $16,053,000 · management and general $817,000 · fundraising $202,000

• 20 · Interest

  total $49,545,000 · program services $39,726,000 · management and general $6,904,000 · fundraising $2,915,000

• 22 · Depreciation, depletion and amortization

  total $252,291,000 · program services $225,690,000 · management and general $19,364,000 · fundraising $7,237,000

• 23 · Insurance

  total $94,020,000 · program services $79,338,000 · management and general $14,202,000 · fundraising $480,000

• 24a · Other expenses: RESEARCH/LAB EXPENSES

  total $223,564,000 · program services $220,425,000 · management and general $2,607,000 · fundraising $532,000

• 24b · Other expenses: OTHER MISCELLANEOUS EXP

  total $218,738,000 · program services $214,898,000 · management and general $3,840,000

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $26,303,000 · end of year $27,720,000

• 2 · Savings and temporary cash investments

  beginning of year $712,769,000 · end of year $327,674,000

• 3 · Pledges and grants receivable

  beginning of year $221,917,000 · end of year $898,213,000

• 4 · Accounts receivable

  beginning of year $851,684,000 · end of year $889,785,000

• 5 · Loans and receivables from officers and key people

  beginning of year $444,000 · end of year $389,000

• 8 · Inventories for sale or use

  beginning of year $3,451,000 · end of year $3,362,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $51,710,000 · end of year $57,828,000

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

  $7,547,032,000

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

  $4,004,587,000

• 10c · Land, buildings and equipment, net

  beginning of year $3,037,999,000 · end of year $3,542,445,000

• 11 · Investments: publicly traded securities

  beginning of year $5,311,565,000 · end of year $6,166,052,000

• 12 · Investments: other securities

  beginning of year $6,447,428,000 · end of year $7,382,651,000

• 13 · Investments: program-related

  beginning of year $20,599,000 · end of year $20,333,000

• 15 · Other assets

  beginning of year $949,831,000 · end of year $905,529,000

• 17 · Accounts payable and accrued expenses

  beginning of year $840,749,000 · end of year $848,160,000

• 18 · Grants payable

  beginning of year $18,031,000 · end of year $9,673,000

• 19 · Deferred revenue

  beginning of year $613,624,000 · end of year $600,912,000

• 20 · Tax-exempt bond liabilities

  beginning of year $139,247,000 · end of year $129,176,000

• 21 · Escrow or custodial account liability

  beginning of year $691,220,000 · end of year $683,136,000

• 23 · Secured mortgages and notes payable

  beginning of year $49,331,000 · end of year $125,246,000

• 24 · Unsecured notes and loans payable

  beginning of year $1,310,684,000 · end of year $1,606,733,000

• 25 · Other liabilities

  beginning of year $829,636,000 · end of year $761,507,000

• 27 · Net assets without donor restrictions

  beginning of year $3,959,683,000 · end of year $4,426,742,000

• 28 · Net assets with donor restrictions

  beginning of year $9,183,495,000 · end of year $11,030,696,000

The filer's explanations (Part III)

PART I, LINE 1A

FIRST CLASS OR CHARTER TRAVEL: THE UNIVERSITY TRAVEL POLICY REQUIRES AIR TRAVEL ACCOMMODATIONS FOR ALL EMPLOYEES TO BE AT THE LOWEST COACH CLASS FARE AVAILABLE THAT MEETS BUSINESS NEEDS. THE POLICY DOES ALLOW FOR BUSINESS CLASS AIRFARE ON INTERNATIONAL FLIGHTS, BUT FIRST CLASS OR CHARTER TRAVEL IS ONLY ALLOWED IN LIMITED CIRCUMSTANCES WITH APPROPRIATE REVIEW AND APPROVAL AND WHERE THERE IS A BONA FIDE BUSINESS PURPOSE TO JUSTIFY THE ADDITIONAL COST. DURING THE TAX YEAR ONE OFFICER AND TWO HIGHLY COMPENSATED EMPLOYEES TRAVELED FIRST CLASS ON LIMITED OCCASION. THESE TRAVEL EXPENSES WERE INCURRED FOR UNIVERSITY BUSINESS PURPOSES AND THEREFORE WERE NOT TREATED AS COMPENSATION TO THE LISTED INDIVIDUALS. TRAVEL FOR COMPANIONS: COMPANION OR SPOUSAL TRAVEL IS PROVIDED ONLY IN LIMITED CIRCUMSTANCES WHERE THE TRAVEL SERVES AN ESSENTIAL BUSINESS PURPOSE OF THE UNIVERSITY. DURING THE TAX YEAR, TWO OFFICERS TRAVELED WITH THEIR SPOUSES ON LIMITED OCCASION. IN THIS INSTANCE, THE SPOUSES ARE ALSO EMPLOYEES OF THE UNIVERSITY. WHERE THE SPOUSAL TRAVEL WAS DEEMED TO HAVE AN ESSENTIAL BUSINESS PURPOSE, THE AMOUNT WAS NOT TREATED AS COMPENSATION TO THE LISTED INDIVIDUAL. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: THE UNIVERSITY WILL PROVIDE TAX GROSS-UP PAYMENTS IN CERTAIN CIRCUMSTANCES WITH THE APPROPRIATE LEVELS OF REVIEW AND APPROVAL. DURING THE TAX YEAR, ONE OFFICER RECEIVED A GROSS-UP PAYMENT. THIS BENEFIT WAS TREATED AS TAXABLE COMPENSATION TO THE LISTED INDIVIDUAL. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: THE UNIVERSITY PROVIDES THE PRESIDENT WITH AN ON-CAMPUS RESIDENCE (THE "NICHOLS HOUSE") AND REQUIRES THE PRESIDENT TO USE THE HOUSE AS A PRIMARY RESIDENCE THROUGHOUT THE TERM OF OFFICE. THE PRESIDENT'S USE OF THE NICHOLS HOUSE IS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE UNIVERSITY, THEREFORE IT IS EXEMPT FROM TAXATION UNDER INTERNAL REVENUE CODE SECTION 119. HEALTH OR SOCIAL CLUB DUES: UNIVERSITY POLICY ALLOWS FOR CORPORATE SOCIAL CLUB MEMBERSHIPS, BUT SUCH MEMBERSHIPS ARE FOR STRICT BUSINESS USE. SUCH DEPARTMENTAL OR DIVISIONAL MEMBERSHIPS CANNOT BE USED FOR ANY PERSONAL USE. AS SUCH, USE OF SUCH MEMBERSHIPS FOR UNIVERSITY BUSINESS IS NOT TREATED AS TAXABLE COMPENSATION. INDIVIDUAL SOCIAL CLUB MEMBERSHIPS PAID FOR BY THE UNIVERSITY, EVEN IF USED PRIMARILY FOR UNIVERSITY BUSINESS, ARE TREATED AS TAXABLE COMPENSATION TO THE LISTED INDIVIDUAL. PERSONAL SERVICES: THE UNIVERSITY EMPLOYS A HOUSEKEEPER TO CLEAN THE NICHOLS HOUSE AND ALSO PROVIDES THE PRESIDENT WITH A UNIVERSITY EMPLOYED DRIVER TO ACCOMMODATE HIS FREQUENT TRAVEL. THE PERSONAL AND BUSINESS TIME FOR BOTH THE HOUSEKEEPER AND THE DRIVER ARE LOGGED AND ANY PERSONAL USE IS TREATED AS TAXABLE COMPENSATION TO THE PRESIDENT.

PART I, LINE 1B

WRITTEN POLICIES FOR PAYMENT OR REIMBURSEMENT OR PROVISION OF EXPENSES FOR ITEMS CHECKED IN 1A: IN GENERAL UNIVERSITY POLICY AND PROCEDURES OR CONTRACTUAL OBLIGATIONS ARE FOLLOWED IN PROVIDING THE ABOVE LISTED BENEFITS TO THE LISTED EMPLOYEES. THE UNIVERSITY DOES NOT HAVE A WRITTEN POLICY FOR GROSS-UP PAYMENTS DURING CALENDAR YEAR 2022. HOWEVER, DURING FISCAL YEAR 2023, THE UNIVERSITY INSTITUTED A WRITTEN POLICY FOR GROSS-UP PAYMENTS. THERE ARE NO WRITTEN POLICIES FOR THE PROVISION OF THE PRESIDENT'S HOUSING AND RELATED PERSONAL SERVICES; HOWEVER, THE PROVISIONS ARE INCLUDED IN THE EMPLOYMENT AGREEMENT WITH THE PRESIDENT. THE PRESIDENT'S RESIDENCE IS LOCATED ON CAMPUS AND IT IS INCLUDED IN HIS EMPLOYMENT AGREEMENT THAT HE MUST LIVE THERE, SO IT IS EXEMPT FROM TAXATION UNDER INTERNAL REVENUE CODE SECTION 119 AND NOT INCLUDED IN THE W-2. THE UNIVERSITY HAS ESTABLISHED WRITTEN POLICIES AND PROCEDURES GOVERNING THE TRAVEL AND BUSINESS EXPENSES. THE POLICIES AND PROCEDURES INCLUDE REQUIREMENTS TO MEET THE IRS ACCOUNTABLE PLAN RULES. IT IS THE RESPONSIBILITY OF THE OFFICERS, DIRECTORS, TRUSTEES AND KEY EMPLOYEES TO COMPLY WITH THE WRITTEN POLICIES AND PROCEDURES AND TO EXERCISE GOOD JUDGEMENT IN DETERMINING THE BUSINESS PURPOSE. THE CHAIR OF THE BOARD OF TRUSTEES REVIEWS AND APPROVES THE PRESIDENT'S TRAVEL AND BUSINESS EXPENSES. TRAVEL AND BUSINESS EXPENSES FOR EXECUTIVE VICE PRESIDENTS, THE PROVOST AND THE DEAN OF THE SCHOOL OF MEDICINE ARE REVIEWED AND APPROVED BY THE PRESIDENT. WITH THE EXCEPTION OF THE PRESIDENT, VICE PRESIDENT, INVESTMENT AND CHIEF INVESTMENT OFFICER, AND THE DIRECTOR OF THE APPLIED PHYSICS LAB, TRAVEL AND BUSINESS EXPENSES FOR OFFICERS AND DEANS ARE REVIEWED AND APPROVIED BY THE OFFICE OF THE PROVOST OR THE OFFICE OF THE EXECUTIVE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION. TRAVEL AND BUSINESS EXPENSES FOR THE VICE PRESIDENT, INVESTMENTS AND CHIEF INVESTMENT OFFICER ARE REVIEWED BY THE VICE PRESIDENT, CHIEF FINANCIAL OFFICER AND TREASURER. FOR THE DIRECTOR OF THE APPLIED PHYSICS LAB, TRAVEL AND BUSINESS EXPENSES ARE REVIEWED BY THE HEAD, BUSINESS, CONSTRUCTION AND FACILITIES; CHIEF FINANCIAL OFFICER AND REPORTED OUT ON A QUARTERLY BASIS TO THE CHAIR OF THE APL BOARD OF MANAGERS.

PART I, LINES 4A-B

PART I, QUESTION 4A: DURING CALENDAR YEAR 2022, PAUL ROTHMAN RECEIVED A PAYMENT OF $1,283,797 UPON HIS RETIREMENT AS DEAN OF THE MEDICAL FACULTY AND CEO, JOHNS HOPKINS MEDICINE. PART I, QUESTION 4B: THE FOLLOWING AMOUNTS REPRESENT DISTRIBUTIONS MADE TO THE RESPECTIVE INDIVIDUALS FROM A NON-QUALIFIED DEFERRED COMPENSATION PLAN. ALL OF THESE AMOUNTS ARE REPORTED ON THE RESPECTIVE INDIVIDUALS W-2, BOX 11. PAYEE NON-QUALIFIED PLAN ------------------- ------------------ ATES, KATHERINE $ 1,046,187 BREM, HENRY $ 438,416 BRESSLER, NEIL $ 1,091,173 CONWAY, HEIDI $ 167,170 DANIELS, RONALD $ 650,000 GANGE, STEPHEN $ 54,902 GRADY, HELENE $ 50,359 SEMMEL, RALPH $ 547,729 THE FOLLOWING REPRESENT AMOUNTS CONTRIBUTED TO NON-QUALIFIED 457(F) DEFERRED COMPENSATION PLANS FOR THE RESPECTIVE OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES. PAYEE NON-QUALIFIED PLAN ------------------- ------------------ ATES, KATHERINE $ 239,042 BARD, JR., BRANVILLE $ 65,704 BREM, HENRY $ 125,714 BRESSLER, NEIL $ 2,523 DANIELS, RONALD $ 1,180,949 DEWEESE, THEODORE $ 288,054 GANGE, STEPHEN $ 14,393 GRADY, HELENE $ 98,262 GREEN, ANDREW $ 6,259 HELLER, LAURENT $ 287,400 JOANIS, PIERRE $ 12,494 KUMAR, SUNIL $ 66,071 MARSH, MAUREEN $ 78,903 MCLEAN, ROBERT $ 10,582 METTLER, BRET $ 66,527 PERLIONI, JASON $ 1,180,274 PINEAU, ARTHUR $ 153,433 ROTHMAN, PAUL $ 166,416 SCHROEDER, FREDERIC $ 265,170 SEMMEL, RALPH $ 636,983 SPONSELLER, PAUL $ 15,261 TILDON, MARIA $ 607,000 WEINGART, JON $ 23,444 WILSON, ALICIA $ 8,382 ZARRIELLO, DEAN $ 9,600

PART I, LINES 5A, 6A AND 7:

THE SCHOOL OF MEDICINE OFFERS PERFORMANCE SUPPLEMENTS FOR CLINICAL FACULTY, DEPARTMENTAL CHAIRS, AND VICE DEANS. PERFORMANCE SUPPLEMENTS ARE RECOMMENDED BY THE DEAN OF THE SCHOOL OF MEDICINE. PERFORMANCE SUPPLEMENTS ARE INCENTIVE OPPORTUNITIES TIED TO PERFORMANCE OF DEPARTMENTAL, INSTITUTIONAL AND DISCRETIONARY GOALS INCLUDING RETENTION. PERFORMANCE INDICATORS MEASURE BUDGETARY (INCLUDING PROFITABILITY/EARNINGS), SAFETY, AND SERVICE EXCELLENCE PERFORMANCE. THE UNIVERSITY HAS IMPLEMENTED AN INCENTIVE PROGRAM FOR DEANS, KEY EMPLOYEES, AND PRINCIPAL ADMINISTRATIVE OFFICERS WITH THE EXCEPTION OF THE PRESIDENT. THE INCENTIVES RANGE FROM 0% TO 40% OF BASE SALARY. THE INCENTIVE PROGRAM WAS DEVELOPED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD WITH INPUT TO THE PROGRAM'S STRUCTURE AND ADMINISTRATION PROVIDED TO THE COMMITTEE BY THE PRESIDENT, SENIOR VICE PRESIDENT FOR FINANCE AND ADMINISTRATION AND THE VICE PRESIDENT FOR HUMAN RESOURCES. IT IS ADMINISTERED BY THE COMPENSATION COMMITTEE OF THE BOARD. ANNUALLY, THE INCENTIVE AWARDS ARE RECOMMENDED BY THE PRESIDENT AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD. IN ADDITION, THE VICE PRESIDENT OF INVESTMENTS AND CHIEF INVESTMENT OFFICER IS ELIGIBLE FOR PERFORMANCE SUPPLEMENTS. THESE SUPPLEMENTS ARE INCENTIVE OPPORTUNITIES DETERMINED USING BOTH QUALITATIVE AND QUANTITATIVE PERFORMANCE COMPONENTS. AFTER CONSULTATION WITH THE INVESTMENT COMMITTEE, THESE SUPPLEMENTS ARE APPROVED BY THE BOARD OF TRUSTEES COMPENSATION COMMITTEE. THE COMPENSATION COMMITTEE APPROVED PAYMENT OF PERFORMANCE SUPPLEMENTS TO THE VICE PRESIDENT OF INVESTMENTS AND CHIEF INVESTMENT OFFICER IN DECEMBER 2022. THE JOHNS HOPKINS APPLIED PHYSICS LABORATORY (JHU/APL) IMPLEMENTED AN INCENTIVE COMPENSATION PROGRAM FOR THE JHU/APL DIRECTOR. THE PROGRAM DESIGN AND STRUCTURE WERE APPROVED BY THE COMPENSATION COMMITTEE OF THE JHU/APL BOARD OF MANAGERS (BOM). THE ANNUAL INCENTIVE FOR THE JHU/APL DIRECTOR RANGES FROM 0% TO 20% OF BASE PAY. OVERSIGHT OF THIS PROGRAM IS PROVIDED BY THE COMPENSATION COMMITTEE OF THE BOM WITH SUPPORT PROVIDED BY THE JHU/APL DIRECTOR OF TALENT SERVICES. THE SIZE OF THE ANNUAL INCENTIVES AWARDED TO THE JHU/APL DIRECTOR IS BASED UPON HIM MEETING SPECIFIC OBJECTIVES APPROVED AT THE BEGINNING OF THE CALENDAR YEAR BY THE COMPENSATION COMMITTEE OF THE BOM. IN NOVEMBER OF EACH YEAR, THE BOM COMPENSATION COMMITTEE REVIEWS THE PROGRESS TOWARDS THE GOALS ACHIEVED BY THE JHU/APL DIRECTOR AND DETERMINES AND APPROVES THE PERCENTAGE OF THE INCENTIVE EARNED BY THE JHU/APL DIRECTOR. THE UNIVERSITY'S BOARD OF TRUSTEES HAS A COMPENSATION COMMITTEE THAT ANNUALLY REVIEWS COMPENSATION FOR OFFICERS AND DEANS, WITH THE EXCEPTION OF THE DIRECTOR OF THE APPLIED PHYSICS LABORATORY (APL). THE COMPENSATION COMMITTEE IS ADVISED BY AN INDEPENDENT THIRD-PARTY CONSULTING COMPANY WHICH PREPARES BENCHMARKING COMPENSATION SURVEYS EACH YEAR BY GATHERING COMPARABLE DATA FROM A GROUP OF PEER INSTITUTIONS. MINUTES OF THE COMPENSATION COMMITTEE AND SUPPORTING MATERIALS PROVIDE SUBSTANTIATION OF THE COMPENSATION COMMITTEE'S DECISIONS. THE COMPENSATION COMMITTEE REVIEWS AND APPROVES THE COMPENSATION FOR OFFICERS AND DEANS EXCEPT THE PRESIDENT AND THE DIRECTOR OF APL. THE COMPENSATION COMMITTEE REPORTS ITS ACTIONS TO THE FULL BOARD. THE FULL BOARD, AFTER REVIEW BY THE COMPENSATION COMMITTEE, REVIEWS AND APPROVES THE PRESIDENT'S COMPENSATION.

PART I, LINE 8:

THERE WERE TWO OFFICERS WITH RESPECT TO WHOM AMOUNTS WERE REPORTED IN PART VII WHERE THOSE AMOUNTS WERE PAID PURSUANT TO A CONTRACT THAT WAS SUBJECT TO THE INTITIAL CONTRACT EXCEPTION DESCRIBED IN REG. SECTION 53.4958-4(A)(3). THE COMPENSATION WAS ALSO APPROVED PURSUANT TO PROCESSES CONSISTENT WITH THE REBUTTABLE PRESUMPTION PROCEDURE DESCRIBED IN REG. SECTION 53.4958-6(C).

Disregarded entities

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

• 11101 JOHNS HOPKINS ROAD BUSINESS TRUST

  HOLDS TITLE TO REAL ESTATE · MD · assets $50,575,009

  Directly controlled by APPLIED PHYSICS LABORATORY LLC

• 2733 NORTH CHARLES LLC

  HOLDS TITLE TO REAL ESTATE · MD · income $64,129 · assets $595,000

  Directly controlled by JOHNS HOPKINS UNIVERSITY

• JOHNS HOPKINS APPLIED PHYSICS LABORATORY LLC

  RESEARCH · MD · income $2,292,884,419 · assets $1,571,033,789

  Directly controlled by JOHNS HOPKINS UNIVERSITY

• CHARLES & BLACKSTONE APARTMENTS LLC

  HOLDS TITLE TO REAL ESTATE · MD · income $1,500,866 · assets $16,294,545

  Directly controlled by JOHNS HOPKINS UNIVERSITY

• FREDERICK NEONATAL SERVICES LLC

  CLINICAL SERVICES · MD · income $1,903,561 · assets $551,607

  Directly controlled by JOHNS HOPKINS UNIVERSITY

• JHU CLINICAL BILLING LLC

  BILLING SERVICES · MD · income $876,807

  Directly controlled by JOHNS HOPKINS UNIVERSITY

• JHU-CHARLES COMMONS LLC

  HOLDS TITLE TO REAL ESTATE · MD · income $60,000 · assets $30,969,786

  Directly controlled by JOHNS HOPKINS UNIVERSITY

• JOHNS HOPKINS SETON PROPERTIES LLC

  HOLDS TITLE TO REAL ESTATE · MD · assets $6,039,534

  Directly controlled by JOHNS HOPKINS UNIVERSITY

• THE JOHNS HOPKINS UNIVERSITY (USA) FOUNDATION LIMITED

  PROMOTES EDUCATION · UK · income $3,042,575 · assets $860

  Directly controlled by JOHNS HOPKINS UNIVERSITY

• MT WASHINGTON CAMPUS NORTH BUSINESS TRUST

  BUSINESS TRUST - REAL ESTATE AND RELATED SERVICES · MD · income $9,060,365 · assets $22,474,620

  Directly controlled by JOHNS HOPKINS UNIVERSITY

• MT WASHINGTON CAMPUS SOUTH BUSINESS TRUST

  BUSINESS TRUST - REAL ESTATE AND RELATED SERVICES · MD · income $9,969,033 · assets $18,158,321

  Directly controlled by JOHNS HOPKINS UNIVERSITY

• STAFFORD APARTMENTS LLC

  HOLDS TITLE TO REAL ESTATE · MD · income $1,352,629 · assets $8,418,409

  Directly controlled by JOHNS HOPKINS UNIVERSITY

• 3111 NORTH CHARLES INVESTMENT LLC

  HOLDS TITLE TO REAL ESTATE · MD · income $363,380 · assets $268,511

  Directly controlled by JOHNS HOPKINS UNIVERSITY

• JOHNS HOPKINS GLOBAL II LLC

  RESEARCH AND INTERNATIONAL EDUCATION · MD · assets $23,529

  Directly controlled by JOHNS HOPKINS UNIVERSITY

• HACKERMAN CHARITABLE HOLDINGS LLC

  INVESTMENT · DE · income $516,083

  Directly controlled by JOHNS HOPKINS UNIVERSITY

• 63019 HOLDINGS LLC

  INVESTMENT · DE · income $1,635,487,494 · assets $4,279,787,841

  Directly controlled by JOHNS HOPKINS UNIVERSITY

• 1876 HOLDINGS LLC

  INVESTMENT · MD · income $2,913,381 · assets $3,357,661

  Directly controlled by JOHNS HOPKINS UNIVERSITY

• THE JHU 2018 BLK TRUST

  INVESTMENT · CA · income $298

  Directly controlled by JOHNS HOPKINS UNIVERSITY

Related partnerships

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

• ASTHMA CENTER LP

  EXCLUDED · REAL ESTATE · MD · 1% owned · share of income -$5,497 · share of assets -$500,608 · general or managing partner

• ASTHMA CENTER LP

  EXCLUDED · REAL ESTATE · MD · 74% owned · share of income -$406,792 · share of assets $2,563,340

• JHMI UTILITIES LLC

  RELATED · UTILITIES SERVICES TO MEMBERS · MD · 50% owned · share of income $5,695,817 · share of assets $158,997,697 · general or managing partner

• JOHNS HOPKINS HEALTHCARE LLC

  RELATED · MEDICAL SERVICES · MD · 50% owned · share of income $22,011,102 · share of assets $198,180,724 · general or managing partner

• JOHNS HOPKINS MEDICINE INTERNATIONAL LLC

  RELATED · INTERNATIONAL HEALTH CARE, EDUCATION · MD · 50% owned · share of income $1,838,169 · share of assets $28,747,225 · general or managing partner

• HOWARD COUNTY NEONATAL SERVICES LLC

  RELATED · CLINICAL SERVICES · MD · 50% owned · share of income $133,913 · share of assets -$619,236 · general or managing partner

• JOHNS HOPKINS BROADWAY ACQUISITION AND DEVELOPMENT SERIES

  EXCLUDED · LAND HOLDING AND DEVELOPMENT · MD · 50% owned · share of income $157,972 · share of assets $7,550,722 · general or managing partner

• JOHNS HOPKINS MEDICINE ALLIANCE FOR PATIENTS LLC

  RELATED · MEDICAL SERVICES · MD · 50% owned · general or managing partner

• JOHNS HOPKINS SURGERY CENTER SERIES LLC

  RELATED · CLINICAL SERVICES · MD · 50% owned · share of income -$4,541,496 · share of assets $18,026,827 · general or managing partner

• NEPHROLOGY INVESTMENTS OF ABERDEEN LLC

  UNRELATED · INVESTMENT HOLDING · MD · 60.22% owned · share of income $586,141 · share of assets $321,899 · general or managing partner

• JOHNS HOPKINS HEALTH CARE AND SURGERY CENTER DEVELOPMENT LLC

  EXCLUDED · REAL ESTATE · MD · 50% owned · share of income $1,271,549 · share of assets $24,244,249 · general or managing partner

• 320 W 29TH STREET LLC

  EXCLUDED · REAL ESTATE · MD · 50% owned · share of income $49,127 · share of assets $936,386 · general or managing partner

• REMINGTON 29TH STREET LLC

  EXCLUDED · REAL ESTATE · MD · 99.9% owned · share of income -$35,413 · share of assets $1,985,512 · general or managing partner

• CCA2-H LP

  EXCLUDED · INVESTING · DE · 99.86% owned · share of income $3,745,733 · share of assets $357,419,561

• SKYKNIGHT RAIL HOLDINGS II LP - SERIES 1

  UNRELATED · TRANSPORTATION · DE · 99.02% owned · share of income -$63,585

• SKYKNIGHT RAIL HOLDINGS II LP - SERIES 5

  UNRELATED · TRANSPORTATION · DE · 99.02% owned · share of income -$34,109

• 550 BROADWAY LP

  N/A · MD · general or managing partner

• C&C SALT LLC

  UNRELATED · MINING · NY · 53.06% owned · share of income $626,185 · share of assets $5,780,416

• SP STREET OWNER LLC

  EXCLUDED · REAL ESTATE · MD · 90% owned · share of income $74,465 · share of assets $6,287,145 · general or managing partner

• 2500 - 2600 SISSON STREET LLC

  EXCLUDED · REAL ESTATE · MD · 65% owned · share of income $49,366 · share of assets $5,330,105

• 2810 HAMPDEN AVENUE LLC

  EXCLUDED · REAL ESTATE · MD · 65% owned

• 501 W 29TH STREET LLC

  EXCLUDED · REAL ESTATE · MD · 65% owned

Related corporations and trusts

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

• CHARITABLE REMAINDER TRUSTS (100 TRUSTS)

  T · INVESTMENTS · MD · share of assets $55,783,666

• JOHNS HOPKINS INDIA PRIVATE LIMITED

  C · RESEARCH & PROJECT MANAGEMENT · IN · 99.99% owned · share of income $3,629,884 · share of assets $1,656,483 · controlled entity

  Directly controlled by JOHNS HOPKINS GLOBAL II LLC

• 63019 HOLDINGS II LLC

  C · INVESTMENTS · CJ · 100% owned · share of income $73,148 · share of assets $4,495,829 · controlled entity

  Directly controlled by 63019 HOLDINGS LLC

• POOLED INCOME FUNDS (2 FUNDS)

  T · INVESTMENTS · MD · share of assets $1,237,552

• 63019 HOLDINGS III LLC

  C · INVESTMENTS · DE · 100% owned · share of assets $1,566,216 · controlled entity

  Directly controlled by 63019 HOLDINGS LLC

• LUMINA STRATEGIC SOLUTIONS FEEDER FUND (B) LP

  C · INVESTMENTS · CA · 81.4% owned · share of income $1,031,218 · share of assets $61,844,860 · controlled entity

  Directly controlled by JOHNS HOPKINS UNIVERSITY