Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $20,487,136

• 1g · Noncash contributions included above

  $3,284,815

• 6a · Gross rents

  real property $191,245

• 6b · Less rental expenses

  real property $421,703

• 6c · Rental income or loss

  real property -$230,458

• 6d · Net rental income or loss

  total -$230,458 · excluded -$230,458

• 7a · Gross sales of assets other than inventory

  other assets $6,500,000

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

  other assets $6,340,000

• 7c · Gain or loss

  other assets $160,000

• 7d · Net gain or loss

  total $160,000 · excluded $160,000

• 11a · Other revenue: MISCELLANEOUS REVENUE

  total $78 · excluded $78

• 11e · Other revenue, total

  $78

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $607,512 · program services $607,512

• 11c · Fees: accounting

  total $15,209 · management and general $15,209

• 24a · Other expenses: OTHER MISCELLANEOUS EXP

  total $1,035,431 · management and general $1,035,431

• 24b · Other expenses: TAXES/LICENSES/FEES

  total $220 · management and general $220

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $6,792,400

• 2 · Savings and temporary cash investments

  end of year $6,029,552

• 4 · Accounts receivable

  end of year $4,435,529

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

  $0

• 10c · Land, buildings and equipment, net

  beginning of year $6,340,000

• 15 · Other assets

  beginning of year $121,199,394 · end of year $141,123,674

• 17 · Accounts payable and accrued expenses

  beginning of year $2,518,415

• 19 · Deferred revenue

  beginning of year $62,780 · end of year $2

• 21 · Escrow or custodial account liability

  beginning of year $69,441,944 · end of year $66,580,225

• 27 · Net assets without donor restrictions

  beginning of year $10,551,316 · end of year $10,465,080

• 28 · Net assets with donor restrictions

  beginning of year $51,757,339 · end of year $74,543,448

The filer's explanations (Part III)

PART I, LINE 3

COMPENSATION OF THE ORGANIZATION'S CEO: WAVE SERVICES, INC. IS A SUBSIDIARY OF PEPPERDINE UNIVERSITY. ALL OFFICERS ARE COMPENSATED BY PEPPERDINE UNIVERSITY. THE UNIVERSITY USED ONE OR MORE OF THE METHODS DESCRIBED IN PART I, LINE 3 TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION.

PART I, LINE 4B:

PEPPERDINE UNIVERSITY HAD AN INCENTIVE COMPENSATION PLAN FOR CERTAIN KEY EXECUTIVES. UNDER THE PLAN, UPON ACHIEVEMENT OF CERTAIN EXPECTATIONS AND GOALS, AND AT THE DISCRETION OF THE BOARD OF REGENTS, THE PARTICIPANT WOULD RECEIVE A UNIVERSITY CONTRIBUTION TO THE PLAN FOR THAT PLAN YEAR. UNIVERSITY CONTRIBUTIONS TO THE PLAN BECAME GRADUALLY VESTED BEGINNING WITH THE LAST DAY OF THE THIRD PLAN YEAR FOLLOWING THE CONTRIBUTION, AND VESTED FULLY AT THE COMPLETION OF THE SEVENTH PLAN YEAR FOLLOWING THE AWARD. WHEN THE EMPLOYEE ATTAINED THE AGE OF 62, THE ACCOUNT FULLY VESTED AND WAS FULLY PAID OUT TO THE EMPLOYEE. THE VESTING SCHEDULE WAS THEN ACCELERATED SUCH THAT THE EMPLOYEE WAS FULLY VESTED AFTER AGE 62. THIS INCENTIVE COMPENSATION PLAN ENDED EFFECTIVE AUGUST 1, 2022. NO AMOUNTS WERE AWARDED IN CALENDAR YEAR 2022. THE FOLLOWING AMOUNTS WERE VESTED AND INCLUDED IN THE EMPLOYEE'S COMPENSATION IN CALENDAR YEAR 2022: SAMUEL HINKLE - $79,663.

PART II, COLUMN (F):

REPORTED AS DEFERRED IN PRIOR YEAR: AMOUNTS REPORTED ON SCHEDULE J, PART II, COLUMN (F), WERE PREVIOUSLY REPORTED ON WAVE SERVICES, INC.'S FORM 990 FOR PRIOR YEARS AS AMOUNTS AWARDED UNDER THE INCENTIVE COMPENSATION PLAN DISCLOSED IN RESPONSE TO SCHEDULE J, PART I, LINE 4B.

Related partnerships

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

• ANDURIL HOLDINGS LLC

  N/A · INVESTMENTS · DE

• MELODEON LBS DE I HOLDCO LP

  N/A · INVESTMENTS · CT

• P-901 NORTH FAIRFAX CO-INVESTOR LLC

  N/A · REAL ESTATE · CA

Related corporations and trusts

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

• CHARITABLE REMAINDER UNITRUSTS (64)

  T · INVESTING · CA · controlled entity

  Directly controlled by WAVE SERVICES

• CHARITABLE REMAINDER ANNUITY TRUSTS (1)

  T · INVESTING · CA · controlled entity

  Directly controlled by WAVE SERVICES

• NIM CHARITABLE REMAINDER UNITRUSTS (4)

  T · INVESTING · CA · controlled entity

  Directly controlled by WAVE SERVICES

• IRREVOCABLE TRUST

  T · INVESTING · CA · 100% owned · share of assets $20,455,273 · controlled entity

  Directly controlled by WAVE SERVICES

• PEPPERDINE UNIVERSITY SRL

  C · EDUCATION · AR

  Directly controlled by PEPPERDINE

• FUNDACION PEPPERDINE UNIVERSITY PARA

  C · EDUCATION · AR

  Directly controlled by PEPPERDINE

• REVOCABLE TRUST

  T · INVESTING · CA

  Directly controlled by PEPPERDINE

• CHARITABLE REMAINDER UNITRUSTS (2)

  T · INVESTING · CA

  Directly controlled by PEPPERDINE

• CHARITABLE GIFT ANNUITIES (75)

  T · INVESTING · CA

  Directly controlled by PEPPERDINE