Form 990 for tax year 2022

Revenue

Part VIII, the statement of revenue.

• 1c · Fundraising events

  $102,338

• 1e · Government grants (contributions)

  $216,583,247

• 1f · All other contributions, gifts and grants

  $200,712,155

• 1g · Noncash contributions included above

  $26,624,480

• 2a · Program service revenue: Tuition and Fees

  total $717,460,371 · related or exempt $717,460,371

• 2b · Program service revenue: Affilliated Entity Rev

  total $326,639,587 · related or exempt $326,639,587

• 2c · Program service revenue: Room, Board & Auxiliary

  total $182,343,477 · related or exempt $182,097,308 · unrelated business $246,169

• 2d · Program service revenue: Research & Other Contr

  total $87,325,008 · related or exempt $87,325,008

• 2e · Program service revenue: Other Auxiliary

  total $7,477,206 · related or exempt $7,366,478 · unrelated business $110,728

• 2f · All other program service revenue

  total $16,199,179 · related or exempt $16,199,179 · unrelated business $0 · excluded $0

• 3 · Investment income

  total $168,033,936 · unrelated business $66,763,536 · excluded $101,270,400

• 5 · Royalties

  total $82,132,845 · unrelated business $3 · excluded $82,132,842

• 6a · Gross rents

  real property $9,904,472 · personal property $2,350

• 6b · Less rental expenses

  real property $4,407,742 · personal property $1,591

• 6c · Rental income or loss

  real property $5,496,730 · personal property $759

• 6d · Net rental income or loss

  total $5,497,489 · unrelated business $759 · excluded $5,496,730

• 7a · Gross sales of assets other than inventory

  securities $5,931,957,258

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

  securities $5,694,533,497

• 7c · Gain or loss

  securities $237,423,761 · other assets $0

• 7d · Net gain or loss

  total $237,423,761 · unrelated business $12,170,952 · excluded $225,252,809

• 8a · Fundraising events: gross income

  $71,609

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

  $102,338

• 8b · Fundraising events: direct expenses

  $86,262

• 8c · Net income from fundraising events

  total -$14,653 · excluded -$14,653

• 11a · Other revenue: Other Revenue

  total $18,489,002 · related or exempt $381,353 · unrelated business $18,107,649

• 11d · All other revenue

  total $0 · related or exempt $0 · unrelated business $0 · excluded $0

• 11e · Other revenue, total

  $18,489,002

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $61,031,922 · program services $61,031,922

• 2 · Grants to domestic individuals

  total $405,165,573 · program services $405,165,573

• 3 · Grants to foreign organizations and individuals

  total $1,644,267 · program services $1,644,267

• 5 · Compensation of officers, directors and key employees

  total $20,720,720 · program services $3,574,195 · management and general $13,598,380 · fundraising $3,548,145

• 6 · Compensation of disqualified persons

  total $101,249 · program services $101,249

• 7 · Other salaries and wages

  total $665,213,031 · program services $582,055,805 · management and general $67,066,656 · fundraising $16,090,570

• 8 · Pension plan contributions

  total $33,333,197 · program services $29,166,267 · management and general $3,360,647 · fundraising $806,283

• 9 · Other employee benefits

  total $72,090,269 · program services $55,757,558 · management and general $13,032,869 · fundraising $3,299,842

• 10 · Payroll taxes

  total $41,290,157 · program services $36,128,540 · management and general $4,162,866 · fundraising $998,751

• 11a · Fees: management

  total $2,348,833 · program services $212,901 · management and general $2,135,932

• 11b · Fees: legal

  total $10,798,457 · management and general $10,793,157 · fundraising $5,300

• 11c · Fees: accounting

  total $992,350 · management and general $992,350

• 11e · Fees: professional fundraising services

  total $97,606 · fundraising $97,606

• 11f · Fees: investment management

  total $59,213,645 · management and general $59,213,645

• 11g · Fees: other

  total $116,751,353 · program services $88,379,096 · management and general $23,415,209 · fundraising $4,957,048

• 12 · Advertising and promotion

  total $7,150,957 · program services $5,567,209 · management and general $837,668 · fundraising $746,080

• 13 · Office expenses

  total $95,622,292 · program services $81,480,461 · management and general $11,106,662 · fundraising $3,035,169

• 14 · Information technology

  total $29,455,657 · program services $25,277,334 · management and general $3,481,867 · fundraising $696,456

• 15 · Royalties

  total $60,998,953 · program services $60,998,953

• 16 · Occupancy

  total $116,395,170 · program services $93,149,185 · management and general $20,777,282 · fundraising $2,468,703

• 17 · Travel

  total $34,631,012 · program services $31,601,015 · management and general $1,830,964 · fundraising $1,199,033

• 19 · Conferences, conventions and meetings

  total $5,434,008 · program services $4,965,565 · management and general $424,894 · fundraising $43,549

• 20 · Interest

  total $20,550,018 · program services $17,825,220 · management and general $2,724,798

• 22 · Depreciation, depletion and amortization

  total $100,998,135 · program services $82,160,761 · management and general $16,807,315 · fundraising $2,030,059

• 23 · Insurance

  total $13,015,513 · program services $7,800,655 · management and general $5,214,286 · fundraising $572

• 24a · Other expenses: Other- program

  total $9,852,899 · program services $9,852,899

• 24b · Other expenses: Other- library

  total $17,415,629 · program services $17,415,629

• 24c · Other expenses: Other- Subscriptions

  total $1,784,892 · program services $1,184,015 · management and general $536,189 · fundraising $64,688

• 24e · All other expenses

  total $21,850,390 · program services $7,928,957 · management and general $11,747,453 · fundraising $2,173,980

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $102,989,529 · end of year $122,529,748

• 2 · Savings and temporary cash investments

  beginning of year $1,073,362,225 · end of year $808,359,308

• 3 · Pledges and grants receivable

  beginning of year $142,785,838 · end of year $213,326,793

• 4 · Accounts receivable

  beginning of year $76,518,779 · end of year $51,921,561

• 5 · Loans and receivables from officers and key people

  beginning of year $495,931 · end of year $483,559

• 6 · Loans and receivables from disqualified persons

  beginning of year $0 · end of year $0

• 7 · Other notes and loans receivable

  beginning of year $904,407 · end of year $1,315,611

• 8 · Inventories for sale or use

  beginning of year $273,817 · end of year $335,551

• 9 · Prepaid expenses and deferred charges

  beginning of year $14,299,044 · end of year $13,717,580

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

  $3,186,952,557

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

  $1,389,418,790

• 10c · Land, buildings and equipment, net

  beginning of year $1,616,540,131 · end of year $1,797,533,767

• 11 · Investments: publicly traded securities

  beginning of year $4,964,936,648 · end of year $4,880,564,014

• 12 · Investments: other securities

  beginning of year $5,463,678,430 · end of year $5,193,051,568

• 13 · Investments: program-related

  beginning of year $17,578,281 · end of year $17,179,713

• 15 · Other assets

  beginning of year $57,414,450 · end of year $49,192,589

• 17 · Accounts payable and accrued expenses

  beginning of year $289,979,198 · end of year $282,242,924

• 19 · Deferred revenue

  beginning of year $1,887,200,104 · end of year $1,840,731,085

• 20 · Tax-exempt bond liabilities

  end of year $25,000,000

• 22 · Loans and payables to officers and key people

  beginning of year $0 · end of year $0

• 23 · Secured mortgages and notes payable

  beginning of year $668,792,354 · end of year $635,534,137

• 25 · Other liabilities

  beginning of year $727,314,896 · end of year $676,896,388

• 27 · Net assets without donor restrictions

  beginning of year $5,611,957,096 · end of year $5,455,561,991

• 28 · Net assets with donor restrictions

  beginning of year $4,346,533,862 · end of year $4,233,544,837

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel

Vanderbilt excludes first-class and charter travel from taxable income when a documented business purpose is served. First-class or charter travel - Travelers should fly via commercial airline and work to obtain the lowest fare possible. Business class or first class seating may only be used if the traveler's Vice Chancellor provides approval in writing in advance. This approval is only provided for limited circumstances as provided in Vanderbilt's Travel and Business Expense Policy. In cases where it is not possible to fly commercial due to scheduling commitments, and the travel is of the highest importance, travelers may request that the Chancellor approve a charter flight. After weighing the benefits of the trip against the cost of the charter, the chancellor may approve a charter flight. The Board of Trust has approved first class and charter travel for the Chancellor when necessitated by his schedule. Per Vanderbilt's athletics travel policy, the Vice Chancellor for University Affairs and Athletics can approve non-student travel on team charter flights, when there are extra seats, without requiring reimbursement to the university since the charter fee is not determined by the number of actual passengers. 1 trustee, 2 officers, 4 highest compensated employees, and 1 key employee were provided first-class or charter travel that was not included in taxable compensation. 1 officer was provided first-class or charter travel that was included in taxable compensation.

Schedule J, Part I, Line 1a Travel for companions

2 highest compensated employees were provided companion travel that was not included in taxable compensation because a business purpose existed for the companions' travel. 1 officer was provided travel for their companion that was included in taxable compensation.

Schedule J, Part I, Line 1a Tax indemnification and gross-up payments

1 officer was provided tax indemnification and gross-up payments that was included in taxable compensation.

Schedule J, Part I, Line 1a Housing allowance or residence for personal use

1 officer was provided a housing allowance that was included in taxable compensation.

Schedule J, Part I, Line 4a Severance or change-of-control payment

Certain Individuals Listed in Form 990, Schedule J, Part II received a severance payment in connection to their termination of status as an officer or employee. 2 payouts were made under a severance agreement: Derek Mason: $2,166,660 Nicholas Zeppos: $1,537,500

Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan

Certain individuals listed in Form 990. Schedule J, Part II, participate in nonqualified deferred compensation plans. Amounts contributed to the plans include fixed %s of annual bonus payments, and fixed dollar amounts. Contributions to the plan vest when individuals complete their contract term or continue employment to a designated date. Current year accruals of compensation associated with these plans are included in the amounts reported for such individuals in Schedule J, Part II, Column (C). The payout of these amounts in future years will be included in the amounts reported in Schedule J, Part II, Column (B)(ii), and will also be reported in Schedule J, Part II, Column (F). Three payouts were made under these plans to participating individuals in calendar year 2022. Anders Hall: $1,405,063 C. Cybele Raver: $217,500 Jerry Stackhouse: $250,000

Schedule J, Part I, Line 7 Non-fixed payments

Certain individuals listed in Schedule J, Part II received variable incentive compensation based on the achievement of pre-established goals, where judgement was determined either by the Board of Trust or the Chancellor. Incentive payments are shown in Schedule J, Part II, Column B(ii).

Schedule J, Part I, Line 8 Payments on contract that is subject to the initial contract exception

Certain individuals are, from time to time, serving under the provisions of their initial contract to serve as officers of the university, which principally establishes their compensation, responsibilities and duties.

Schedule J, Part II, Column (B)(i) Base Compensation - Andre Churchwell

Vanderbilt reimbursed VUMC $462,241 through an Employee Services Agreement for services provided to Vanderbilt by Andre Churchwell , a VUMC employee through June 30, 2022, who serves as Vanderbilt's Chief Diversity Officer and Vice Chancellor for Equity, Diversity and Inclusion. As of July 1, 2022, Andre Churchwell was a Vanderbilt employee and received compensation from Vanderbilt reportable on his calendar year 2022 Form W-2 issued by Vanderbilt.

Disregarded entities

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

• Dore Capital LLC

  Investment · DE · income $0 · assets $0

  Directly controlled by VU

• Dore Capital Real Estate LLC

  Investment · DE · income $0 · assets $0

  Directly controlled by VU

• Star V Partners LLC

  Investment · TN · income $84,992,852 · assets $1,892,626,660

  Directly controlled by VU

• West Trace LLC

  Hospitality Operations · TN · income $18,489,002 · assets $77,484,864

  Directly controlled by VU

• Royal Tree LLC

  Holding Company · DE · income $0 · assets $35,804,692

  Directly controlled by VU

Related partnerships

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

• Array Ventures Transformers Fund I LP

  Excluded · Investment · DE · share of income $0 · share of assets $992,895

  Directly controlled by VU

• Altos Hybrid 2 V LLC

  Excluded · Investment · DE · share of income -$130,284 · share of assets $37,998,716

  Directly controlled by VU

• Buckley PLCR BIII SPV LLC

  Excluded · Investment · DE · share of income $0 · share of assets $3,055,928

  Directly controlled by VU

• Cheetah Investment Holdings LLC

  Excluded · Investment · DE · share of income $0 · share of assets $4,998,499

  Directly controlled by VU

• Dore Capital Real Estate LP

  Excluded · Investment · DE · share of income -$11,714,743 · share of assets $4,877,029

  Directly controlled by VU

• Dore Capital LP

  Excluded · Investment · DE · share of income $3,116,982 · share of assets $20,764,204

  Directly controlled by VU

• Eagle Investment Holdings II LLC

  Excluded · Investment · DE · share of income $0 · share of assets $4,988,964

  Directly controlled by VU

• Goodwater Taehwa LP

  Excluded · Investment · DE · share of income $0 · share of assets $4,812,439

  Directly controlled by VU

• HS Investments IV V LP

  Excluded · Investment · GK · share of income $9,724 · share of assets $22,919,792

  Directly controlled by VU

• Periscope IBH Holdings LLC

  Excluded · Investment · DE · share of income $0 · share of assets $2,745,808

  Directly controlled by VU

• Valar Co-Invest 7 LP

  Excluded · Investment · DE · share of income $0 · share of assets $5,626,764

  Directly controlled by VU

• Valar Co-Invest 9 LP

  Excluded · Investment · DE · share of income $0 · share of assets $3,989,918

  Directly controlled by VU

• Kairos Continuity CC1 LLC

  Excluded · Investment · DE · share of income $0 · share of assets $3,030,234

  Directly controlled by VU

• Kairos Continuity Alloy1 LP

  Excluded · Investment · DE · share of income $32,250 · share of assets $1,149,523

  Directly controlled by VU

• Kairos Continuity BT LP

  Excluded · Investment · DE · share of income $0 · share of assets $4,024,478

  Directly controlled by VU

• Kairos Continuity RH2 LP

  Excluded · Investment · DE · share of income $0 · share of assets $3,021,189

  Directly controlled by VU

• Kairos Continuity CC2 LP

  Excluded · Investment · DE · share of income -$1,190 · share of assets $5,601,935

  Directly controlled by VU

• Kairos Continuity LS1 LP

  Excluded · Investment · DE · share of income $0 · share of assets $2,560,774

  Directly controlled by VU

• The Midnight A Third Prime Series LLC (Laika Coinvestment)

  Excluded · Investment · DE · share of income $218 · share of assets $4,487,180

  Directly controlled by VU

Related corporations and trusts

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

• Commodore Scottish Patron II LP

  C Corporation · Investment · AE · share of income $0 · share of assets $4,455,079 · controlled entity

  Directly controlled by VU

• Elliston Partners

  C Corporation · Investment · CJ · share of income $0 · share of assets $0 · controlled entity

  Directly controlled by VU

• Emergent Pro Alia Fund Sub Fund Emergent African Land Fund

  C Corporation · Investment · LU · share of income $0 · share of assets $0 · controlled entity

  Directly controlled by VU

• Pacific Harbor Special Holdings Ltd

  C Corporation · Investment · VI · share of income $0 · share of assets $0 · controlled entity

  Directly controlled by VU

• Vanderbilt Legends Club Inc

  C Corporation · Golf Club · TN · share of income $10,554,545 · share of assets $27,634,007 · controlled entity

  Directly controlled by VU

• Charitable Remainder Trusts (88)

  Trust · Charitable Trust · TN · controlled entity

  Directly controlled by VU

• Perpetual Trusts (5)

  Trust · Charitable Trust · TN · controlled entity

  Directly controlled by VU

• Charitable Lead Trusts (2)

  Trust · Charitable Trust · TN · controlled entity

  Directly controlled by VU