2025-04-11T19:03:59+00:00 2024-05-31 920460586 PwC US Tax LLP 101 Seaport Boulevard Boston MA 022102150 990 2023-06-01 941156628 University of San Francisco UNIV 4154226522 2130 Fulton Street San Francisco CA 941171080 CHARLES CROSS VP BUSINESS AND FINANCE 2025-04-12 true Erica McReynolds P00977806 6175305000 2025-04-12 2023 2025-03-06 01:10:19Z FR Fitzgerald SJ 2130 Fulton Street San Francisco CA 941171080 746878012 false X WWW.USFCA.EDU X 1930 CA Our mission is to promote learning in the Jesuit Catholic tradition. The university offers undergraduate, graduate and professional students the knowledge and skills needed to succeed, and the values and sensitivity necessary to be persons for and with others. 41 40 5024 161 3806426 918612 56311670 37456332 500514341 497166036 18522825 18217932 130967 175673 575479803 553015973 153804363 157901425 0 256063702 272834452 182810 113289 11376984 160747384 157520634 570798259 588369800 4681544 -35353827 1419559948 1410513707 428751550 396775759 990808398 1013737948 X THE UNIVERSITY OF SAN FRANCISCO IS A PRIVATE JESUIT UNIVERSITY THAT PROVIDES HIGHER EDUCATION WITH A GLOBAL PERSPECTIVE TO EDUCATE LEADERS WHO WILL FASHION A MORE HUMANE AND JUST WORLD. THE UNIVERSITY PROVIDES HOUSING AND OTHER AUXILIARY SERVICES FOR ITS STUDENTS; THESE SERVICES ARE DIRECTLY RELATED TO THE EXEMPT PURPOSE OF THE UNIVERSITY. false false 259404766 157901425 4330844 STUDENT SERVICES AND LIBRARIES: INCLUDES ACTIVITIES OF WHICH THE PRIMARY PURPOSE IS TO CONTRIBUTE TO THE STUDENTS' INTELLECTUAL, CULTURAL, and SOCIAL DEVELOPMENT; to their EMOTIONAL AND PHYSICAL WELL BEING; AND INTERCOLLEGIATE ATHLETIC PROGRAMS. 185038610 0 445455727 EDUCATION: THE UNIVERSITY (through its approximately 1,428 faculty and staff members) PROVIDES ACADEMIC PROGRAMS, ASSOCIATED RESEARCH, AND SERVICES DEDICATED TO SCHOLARSHIP AND THE JESUIT CATHOLIC TRADITION TO APPROXIMATELY 10,051 STUDENTS. 41442315 0 47379372 AUXILIARY SERVICES: INCLUDES EXPENDITURES FOR THE SELF-SUPPORTING ACTIVITIES OF THE UNIVERSITY SUCH AS THE OPERATION OF RESIDENCE HALLS, DINING SERVICES, STUDENT HEALTH SERVICES, faculty retreats, departmental meetings, and other events. 4263967 0 93 Other Program Services include SPONSORED RESEARCH and EXPENDITURES FOR RESEARCH AND TRAINING. Per the instructions for Part III, Lines 4(a) - (d), charitable contributions and grants reported on Part VIII, line 1, are not considered revenue derived from program services. 4263967 93 490149658 true true false true false false true false true true true false false true false false true true false true false false true true false false false true true true false false false false false false false false true false true false false false true true true false false false true X 533 0 true 5024 true true true true RP false false false true true true 1 false false false false false X 41 40 false false false false false false false true true false false true true true true true true true true false CA X X Charles Cross VP BUSINESS AND FINANCE 4154226522 2130 FULTON STREET SAN FRANCISCO CA 941171080 Rev Fitzgerald SJ President 40.0 0.0 X X 0 0 0 Dr Kletter Board Member 3.0 0.0 X 0 0 0 Dr Miner Board Member 3.0 0.0 X 0 0 0 Mr Allanson Board Member 3.0 0.0 X 0 0 0 Mr Boland Chair 3.0 0.0 X 0 0 0 Mr Buell Board Member 3.0 0.0 X 0 0 0 Mr Diez Board Member 3.0 0.0 X 0 0 0 Mr Giraudo Board Member 3.0 0.0 X 0 0 0 Mr Malloy Board Member 3.0 0.0 X 0 0 0 Mr Myers Board Member 3.0 0.0 X 0 0 0 Mr Pea Board Member 3.0 0.0 X 0 0 0 Mr Porter Board Member 3.0 0.0 X 0 0 0 Mr Sangiacomo Board Member 3.0 0.0 X 0 0 0 Mr Schrader Board Member 3.0 0.0 X 0 0 0 Mr Scott Board Member 3.0 0.0 X 0 0 0 Mr Seiwald Board Member 3.0 0.0 X 0 0 0 Mr Shah Board Member 3.0 0.0 X 0 0 0 Mr Silk Board Member 3.0 0.0 X 0 0 0 Mr Simon Board Member 3.0 0.0 X 0 0 0 Mr Skrip Board Member 3.0 0.0 X 0 0 0 Mr Smith Board Member 3.0 0.0 X 0 0 0 Mr Swig Board Member 3.0 0.0 X 0 0 0 Mr Tay Board Member 3.0 0.0 X 0 0 0 Ms Calandra Board Member 3.0 0.0 X 0 0 0 Ms Cheng Board Member 3.0 0.0 X 0 0 0 Ms DaSilva Board Member 3.0 0.0 X 0 0 0 Ms Del Santo Vice Chair 3.0 0.0 X 0 0 0 Ms Doherty-Simor Board Member 3.0 0.0 X 0 0 0 Ms Kelly Board Member 3.0 0.0 X 0 0 0 Ms Martin Board Member 3.0 0.0 X 0 0 0 Ms McGrath Board Member 3.0 0.0 X 0 0 0 Ms Miller Azcarate Board Member 3.0 0.0 X 0 0 0 Ms Nichols Board Member 3.0 0.0 X 0 0 0 Ms Rose Board Member 3.0 0.0 X 0 0 0 Ms Thacher Board Member 3.0 0.0 X 0 0 0 Ms Velasquez Board Member 3.0 0.0 X 0 0 0 Ms Wu Board Member 3.0 0.0 X 0 0 0 Rev Caldern SJ Board Member 3.0 0.0 X 0 0 0 Rev Connell SJ Board Member 3.0 0.0 X 0 0 0 Rev Engh SJ Board Member 3.0 0.0 X 0 0 0 Rev Garanzini SJ Board Member 3.0 0.0 X 0 0 0 Rev Garavel SJ Board Member 3.0 0.0 X 0 0 0 Rev Lee SJ Board Member 3.0 0.0 X 0 0 0 Dr Fung Provost and VP Academic Affairs 40.0 0.0 X 423225 0 45610 Mr Bawa VP, Information Technology and Chief Information Officer 40.0 0.0 X 362097 0 76025 Mr Cross VP, Business and Finance 40.0 0.0 X 507101 0 56100 Ms Davis VP and General Counsel 40.0 0.0 X 492933 0 77232 Ms McClenahan VP, Development 40.0 0.0 X 307902 0 72438 Ms Orio VP, Student Life 40.0 0.0 X 250150 0 82352 Ms Ryder VP, Marketing Communications 40.0 0.0 X 279555 0 43972 Dr Fry-Bowers Dean, School of Nursing and Health Professions 40.0 0.0 X 273519 0 48022 Dr Paris Interim Dean, College of Arts and Sciences 40.0 0.0 X 243074 0 39614 Mr London Associate VP Facilities Management 40.0 0.0 X 328929 0 55021 Dr Erhemjamts Dean, School of Management 40.0 0.0 X 365269 0 62979 Dr Freiwald Dean, School of Law 40.0 0.0 X 347752 0 77797 Dr Koirala-Azad Dean, School of Education 40.0 0.0 X 301788 0 38609 Mr Gerlufsen Head Coach, Men's Baseketball 40.0 0.0 X 881873 0 51958 Mr Williams Athletic Director 40.0 0.0 X 413814 0 65587 Dr Camperi Professor and Former Dean, College of Arts and Sciences 40.0 0.0 X 174212 0 44732 Dr Hamrick Sr. Dir., Data Inst; Former Vice Provost, Inst Budget, Planning & Strategic Analysis 40.0 0.0 X 265276 0 36459 Dr Oparah Professor and Former Provost and VP Academic Affairs 40.0 0.0 X 498391 0 57836 6716860 0 1032343 751 true true false Cahill Contractors LLC 425 California St San Francisco CA 941042102 Construction 14531867 Crown Building Maintenance 868 Folsom St San Francisco CA 941071123 Building Maintenance 7371526 Malcolm International LLC 3286 Fitzgerald Rd Rancho Cordova CA 957426811 Construction 5774981 Skyline Commercial Interiors Inc 505 Sansome Street San Francisco CA 941113108 Construction 2943782 HR Options Inc 1401 Willow Pass Rd Concord CA 945207934 Professional Employer Organization 2907050 101 229355 7679050 29547927 1271566 37456332 Tuition and Fees 611600 439931472 439931472 Housing and Auxiliary 611600 55395427 53056220 2339207 Fitness Center Dues 713940 1839137 1691599 147538 0 0 0 0 497166036 7427636 -224380 7652016 7056 7056 601577 321151 280426 0 280426 280426 198511514 5571599 185518434 7774383 12993080 -2202784 10790296 10790296 136262 229355 248071 -111809 -111809 0 0 0 0 0 553015973 492987692 3806426 18765523 157901425 157901425 6618296 3490156 2762003 366137 1175692 317730 857962 164661626 134817491 24390087 5454048 15847786 12027358 3272139 548289 70960115 53822134 14684402 2453579 13570937 10257160 2846186 467591 951464 205932 705917 39615 1701286 255152 1434799 11335 585565 585565 55000 55000 113289 113289 467375 467375 24430210 22312562 1923630 194018 3530563 3002406 429179 98978 9678094 5891735 3303766 482593 13461747 5638044 7823703 25037512 24807892 207891 21729 13295943 12012245 951561 332137 1487184 1010818 153255 323111 13026122 12421584 604538 29547072 27105087 2441985 4410767 153054 4254013 3700 Financial Expenses 11402237 157945 11243089 1203 Dues & Subscriptions 2862702 1730426 995380 136896 Honoraria & Awards 843456 811322 32134 General Expenses 746335 417599 328736 0 0 0 0 588369800 490149658 86843158 11376984 46056645 33552825 38109312 34422781 8394766 8780511 0 0 0 0 22746274 16286348 8109904 7581703 1047668393 335993932 720944678 711674461 237726458 232417227 0 360364407 0 337471911 5433444 1419559948 1410513707 67700642 50857089 27910193 24337751 244052711 240118070 0 0 70006365 66718639 19081639 14744210 428751550 396775759 536252062 520379123 454556336 493358825 990808398 1013737948 1419559948 1410513707 -35353827 58283377 0 X false true X true true true X 56701997 59379649 62002902 56311670 37456332 271852550 0 0 56701997 59379649 62002902 56311670 37456332 271852550 36012135 235840415 5867359 5356227 5692420 6817297 8260649 31993952 0 0 0 0 0 0 0 0 303846502 2372409842 0.7762 0.7737 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 55000 55000 Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY THE UNIVERSITY OF SAN FRANCISCO CONTRACTS WITH New Deal Advisers TO PROVIDE CONSULTING SERVICES. IN ITS CAPACITY AS A CONSULTANT, New Deal Advisers ASSISTS THE UNIVERSITY IN PURSUING ITS BUSINESS AND GOVERNMENT AFFAIRS OBJECTIVES BY PLANNING FOR ORGANIZATIONAL AND INSTITUTIONAL DEVELOPMENT and FUNDING OBJECTIVES, DEVELOPING AND IMPLEMENTING STRATEGIC PLANS, AND EXPANDING ITS GOVERNMENT OUTREACH ACTIVITIES. X X X X false 504097000 11684000 71429667 12651924 8745076 2180667 563633000 496678000 16748000 14642615 13251412 8971588 1748615 504097000 574955000 21524000 -78865212 11352592 7773408 1809788 496678000 412803000 9232000 171587784 9735402 7353598 1578784 574955000 382956000 14778000 31780354 8668726 6632274 1410354 412803000 0.24 0.43 0.33 false false 30807000 85471901 116278901 808703435 274033695 534669740 33947765 17907825 16039940 88738292 44052412 44685880 711674461 Equity Funds - Alternative 122362782 F Hedge & Other Funds 80349593 F Private Capital 142092047 F Real Asset Funds 15559985 F 360364407 Federal Student Loans Refundable 4110757 Interest Rate Swap Agreements 2024458 Liability Under Split Interest Agreement 2741906 Lease Liability 5867089 14744210 X 453967000 58283377 -147 58283230 395683770 157332203 157332203 553015973 431038000 403 403 431037597 157332203 157332203 588369800 Schedule D, Part III, Line 1a Collections of art - financial statement footnote The University's collections are made up of rare books, artworks, and artifacts of historical significance that are held for educational, research, and curatorial purposes. The collections, which have been acquired through purchases and contributions since the University's inception, were previously recognized as assets on the University's statement of financial position; as of the University's fiscal year ended May 31, 2017, the University has elected under ASC 958 (formerly SFAS 116) not to report the collections on the University's statement of financial position. Schedule D, Part III, Line 4 Collections of art - description of collections THE UNIVERSITY OF SAN FRANCISCO MAINTAINS AND SERVICES A COLLECTION OF RARE BOOKS, ARTWORKS, AND ARTIFACTS OF HISTORICAL SIGNIFICANCE, WHICH ARE MADE AVAILABLE TO THE UNIVERSITY COMMUNITY, ITS constituents, ACADEMIC SCHOLARS, AND THE GENERAL PUBLIC. THE COLLECTIONS ARE USED TO ENHANCE TEACHING, SUPPORT RESEARCH, AND PROVIDE PUBLIC SERVICE. Schedule D, Part V, Line 4 Intended uses of endowment funds THE University's ENDOWMENT PROVIDES A RELATIVELY PREDICTABLE, STABLE AND CONSISTENT INVESTMENT RETURN SUFFICIENT TO FUND A VARIETY OF OPERATIONAL NEEDS, INCLUDING SCHOLARSHIPS AND FELLOWSHIPS, FACULTY CHAIRS, ACADEMIC PROGRAMS, LIBRARIES, OTHER ENDOWMENT PROGRAMS, AND GENERAL OPERATIONS. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE UNIVERSITY DOES NOT MAINTAIN ANY UNCERTAIN TAX POSITIONs; ACCORDINGLY, THE UNIVERSITY'S AUDITED FINANCIAL STATEMENTS Do NOT INCLUDE A FOOTNOTE FOR ASC 740 (FORMERLY FIN 48). Schedule D, Part XI, Line 2(d) Other revenues in audited financial statements not in form 990 Rounding - -147 Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Financial Aid to Students - XXX-XX-XXXX Fundraising Direct Expenses - -248071 Rental Expenses - -321151 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Rounding - 403 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Financial Aid to Students - XXX-XX-XXXX Fundraising Direct Expenses - -248071 Rental Expenses - -321151 true true false true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY THE UNIVERSITY OF SAN FRANCISCO PUBLICIZES ITS RACIALLY NONDISCRIMINATORY POLICY ON THE UNIVERSITY'S primary publicly accessible Internet WEBSITE at https://myusf.usfca.edu/human-resources/policies-procedures/non-discrimination-policy. Because the policy is not specifically displayed on the homepage of the website (www.usfca.edu) in accordance with REVENUE PROCEDURE 2019-22, question 3 is marked "no." However, USF meets the requirements of sections 4.01 through 4.05 of Revenue Procedure 75-50, covering racial nondiscrimination, because it draws a substantial percentage of its students nationwide and worldwide from large geographic sections, enrolls students of racial minority groups in meaningful numbers, and follows a racially nondiscriminatory policy as to students. In fact, in its 2024 rankings, U.S. News lists the University of San Francisco as being tied as the most diverse national university in the United States. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT The university receives title IV funding as well as grants from various governmental agencies. Central America and the Caribbean Investments 104897449 0 0 0 0 0 0 104897449 0 104897449 true false true true true false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual X X X X X X X true GiveCampus Inc 99 M St Ste 233 Washington DC 200033799 Crowdfunding Platform false 1122506 61022 1061484 Marts and Lundy 160 Chubb Ave Ste 303 Lyndhurst NJ 070713680 Fundraising Consultant false 27053918 52267 27001651 28176424 113289 28063135 CA WILP Symposium 52796 7601 45195 0 0 7500 72124 8861 4326 Swanson Golf Tournament 289114 209114 80000 3600 32457 59845 45935 0 1791 2 23707 12640 11067 0 0 172 11363 0 97 365617 229355 136262 3600 32457 67517 129422 8861 6214 248071 -111809 true FSEOG Program 344 1253000 Federal Work-Study Program 436 1767000 Pell Grants 1671 9003000 TEACH Grants 21 63000 USF Financial Aid 7093 145140425 Health Professions Students Aid 27 675000 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. THE UNIVERSITY OF SAN FRANCISCO is not a grantmaking organization per se in that its fundamental mission and purpose for tax-exempt status relates to education. However, in the course of its mission-related activities, the University does make payments that meet the definition of "grantmaking" as defined by the instructions to Schedule I of IRS Form 990. These payments fall into two categories: (1) Student Financial Aid - the University OFFERS STUDENT FINANCIAL AID IN THE FORM OF SCHOLARSHIPS, GRANTS, LOANS, AND EMPLOYMENT OPPORTUNITIES. FINANCIAL AID IS PROVIDED BY: THE UNIVERSITY; FEDERAL AND STATE GOVERNMENTS; SOCIAL, FRATERNAL, PROFESSIONAL, AND COMMUNITY ORGANIZATIONS; EMPLOYERS, BOTH PRESENT AND PROSPECTIVE; AND FRIENDS AND GRADUATES OF THE UNIVERSITY OF SAN FRANCISCO. The University's Financial Aid is awarded to students who demonstrate eligibility based on financial need, compete in intercollegiate athletics, demonstrate academic merit, or commit time and skills after graduation to the U.S. Armed Forces. Students and their parents complete extensive application materials, submit tax returns and other documents to support their claim for financial assistance. The Office of Financial Aid determines students' eligibility for need-based aid. Various academic departments determine eligibility for merit-based aid; (2) Charitable Contributions - charitable contributions are made in accordance with University policy and all applicable laws and regulations. X X X true true X X X X X X false false false false false false false true false Dr Oparah Professor and Former Provost and VP Academic Affairs 456117 0 0 0 42274 0 36396 0 21440 0 556227 0 0 0 Mr Bawa VP, Information Technology and Chief Information Officer 347653 0 0 0 14444 0 36396 0 39629 0 438122 0 0 0 Mr Cross VP, Business and Finance 488362 0 0 0 18739 0 36396 0 19704 0 563201 0 0 0 Ms Davis VP and General Counsel 478654 0 0 0 14279 0 36396 0 40836 0 570165 0 0 0 Dr Fung Provost and VP Academic Affairs 402052 0 0 0 21173 0 36396 0 9214 0 468835 0 0 0 Ms McClenahan VP, Development 288095 0 0 0 19807 0 33417 0 39021 0 380340 0 0 0 Ms Orio VP, Student Life 237809 0 0 0 12341 0 25525 0 56827 0 332502 0 0 0 Ms Ryder VP, Marketing Communications 249455 0 0 0 30100 0 27243 0 16729 0 323527 0 0 0 Dr Camperi Professor and Former Dean, College of Arts and Sciences 172231 0 0 0 1981 0 17712 0 27020 0 218944 0 0 0 Dr Hamrick Sr. Dir., Data Inst; Former Vice Provost, Inst Budget, Planning & Strategic Analysis 265012 0 0 0 264 0 26096 0 10363 0 301735 0 0 0 Dr Fry-Bowers Dean, School of Nursing and Health Professions 272356 0 0 0 1163 0 29842 0 18180 0 321541 0 0 0 Mr London Associate VP Facilities Management 315390 0 0 0 13539 0 35375 0 19646 0 383950 0 0 0 Dr Paris Interim Dean, College of Arts and Sciences 242303 0 0 0 771 0 20703 0 18911 0 282688 0 0 0 Dr Erhemjamts Dean, School of Management 354658 0 0 0 10611 0 36396 0 26583 0 428248 0 0 0 Dr Freiwald Dean, School of Law 346149 0 0 0 1603 0 36396 0 41401 0 425549 0 0 0 Mr Gerlufsen Head Coach, Men's Baseketball 772371 0 45000 0 64502 0 36396 0 15562 0 933831 0 0 0 Dr Koirala-Azad Dean, School of Education 291954 0 0 0 9834 0 31737 0 6872 0 340397 0 0 0 Mr Williams Athletic Director 359855 0 40214 0 13745 0 36396 0 29191 0 479401 0 0 0 Schedule J, Part I, Line 1a First-class or charter travel Some University Athletic teams utilized charter air travel during the 2023-24 seasons; in some cases, athletic coaches and personnel listed on Part VII, Section A, Line 1a also traveled with the athletic teams via chartered planes in order to discharge their required job responsibilities. Schedule J, Part I, Line 1a Housing allowance or residence for personal use The VP for Marketing and Communications, the VP for Academic Affairs and Provost, the Head Men's Basketball Coach, and the Dean, School of Management all received a housing allowance. These amounts were REPORTED AS TAXABLE INCOME ON THE INDIVIDUALS' IRS FORMs W-2 AND are INCLUDED ON SCHEDULE J, PART II, COLUMN B(III). THE VP FOR STUDENT LIFE received University-PROVIDED HOUSING, THE FAIR MARKET VALUE OF WHICH IS INCLUDED ON SCHEDULE J, PART II, COLUMN D. See the note below for more information. Schedule J, Part I, Line 1a Personal services As part of the University's Financial Advisor Reimbursement Program, any benefits-eligible faculty or staff member may request to be reimbursed up to $200 per calendar year for consulting services from a financial advisor of their choice. The VP of Academic Affairs and Provost elected to participate in the program and received $200 for financial advisory services. The amount was reported as taxable income on the individual's IRS Form W-2 and is included on Schedule J, Part II, Column B(iii). Schedule J, Part I, Line 7 Non-fixed payments THE UNIVERSITY HAS A PERFORMANCE-BASED BONUS PROGRAM TO RECOGNIZE EXTRAORDINARY ACHIEVEMENT. PRIOR TO PAYMENT, ALL PERFORMANCE-BASED BONUSES ARE APPROVED BY THE COMPENSATION COMMITTEE OF THE UNIVERSITY'S BOARD OF TRUSTEES WHICH HAS BEEN DELEGATED APPROPRIATE AUTHORITY BY THE FULL BOARD OF TRUSTEES TO ACT ON ITS BEHALF WITH RESPECT TO ALL MATTERS OF COMPENSATION. All bonuses listed on SCHEDULE J, PART II, COLUMN B(II) were made pursuant to pre-existing contractual obligations. Schedule J, Part II, Column (D) Nontaxable Benefits - Employer Provided Housing The VP for Student Life is required by the University to accept housing on the University's business premises for the convenience of the University (her employer) in order to be available and respond to student emergencies on campus at all times (including times outside of normal working hours); without this housing, the VP for Student Life could not perform the services required of her. The VP for Student Life maintains a log, which is provided to the Office of Tax Compliance, Internal Audit, and Payroll Services annually to substantiate that such emergency responses continue to occur and that all of the requirements under Internal Revenue Code Section 119 and the Treasury Regulations promulgated thereunder continue to be met in support of the provision of housing to the VP for Student Life. A California Educational Facilities Authority 521705592 2017-04-03 75000000 Current Refunding of Bonds false false false B California Educational Facilities Authority 521705592 2017-12-01 31310000 Current Refunding of Bonds false false false C California Educational Facilities Authority 521705592 2018-11-21 140000000 Capital improvements false false false D California Educational Facilities Authority 521705592 2018-11-21 35880000 Current refunding of bonds false false false A 75000000 402715 74597285 2017 true false true true B 31310000 355311 30954689 2017 true false true true C 159400853 716442 1151095 149366495 2021 false false true true D 35880000 299878 35580122 2018 false true true true A false false false false 0.0 0.0 0.0 false false true B false false false false 0.0 0.0 0.0 false false true C false false false false 0.0 0.0 0.0 false false true D false false false false 0.0 0.0 0.0 false false true A false true true true Bank of America 18.5 false false false false true B false true false false false false true C false true false false false false true D false true false false false false true A true B true C true D true Schedule K, Part IV, Line 1 FORM 8030-T THE UNIVERSITY HAS DETERMINED THAT NONE OF THE BOND ISSUES SHOWN IN LINES A, B, C, or D OF PART I (COLUMNS A, B, C and D OF THIS PART IV) HAVE GENERATED AN ARBITRAGE REBATE LIABILITY FOR WHICH the filing of a FORM 8038-T WOULD OTHERWISE BE REQUIRED. Schedule K, Part I, Column (c) C - CUSIPS for Multiple Maturities MATURITY 2037, PRINCIPAL AMOUNT $3,615,000, CUSIP NO. 130179RF3 MATURITY 2038, PRINCIPAL AMOUNT $3,800,000, CUSIP NO. 130179RG1 MATURITY 2039, PRINCIPAL AMOUNT $3,975,000, CUSIP NO. 130179RH9 MATURITY 2055, PRINCIPAL AMOUNT $17,180,000, CUSIP NO. 130179RM8 MATURITY 2058, PRINCIPAL AMOUNT $29,225,000, CUSIP NO. 130179RN6 $17,950,000 TERM BOND DUE OCTOBER 1, 2043, CUSIP NO. 130179RJ5 $28,135,000 TERM BOND DUE OCTOBER 1, 2048, CUSIP NO. 130179RK2 $36,120,000 TERM BOND DUE OCTOBER 1, 2053, CUSIP NO. 130179RL0 Schedule K, Part I, Column (c) D - CUSIPS for Multiple Maturities MATURITY 2019, PRINCIPAL AMOUNT $1,690,000, CUSIP NO. 130179RP1 MATURITY 2020, PRINCIPAL AMOUNT $1,670,000, CUSIP NO. 130179RQ9 MATURITY 2021, PRINCIPAL AMOUNT $655,000, CUSIP NO. 130179RR7 MATURITY 2022, PRINCIPAL AMOUNT $55,000, CUSIP NO. 130179RS5 MATURITY 2023, PRINCIPAL AMOUNT $170,000, CUSIP NO. 130179RT3 MATURITY 2024, PRINCIPAL AMOUNT $105,000, CUSIP NO. 130179RU0 MATURITY 2025, PRINCIPAL AMOUNT $150,000, CUSIP NO. 130179RV8 MATURITY 2026, PRINCIPAL AMOUNT $190,000, CUSIP NO. 130179RW6 MATURITY 2030, PRINCIPAL AMOUNT $1,095,000, CUSIP NO. 130179RX4 MATURITY 2031, PRINCIPAL AMOUNT $1,455,000, CUSIP NO. 130179RY2 MATURITY 2032, PRINCIPAL AMOUNT $1,505,000, CUSIP NO. 130179RZ9 MATURITY 2033, PRINCIPAL AMOUNT $5,405,000, CUSIP NO. 130179SA3 $21,735,000 TERM BOND DUE OCTOBER 1, 2036, CUSIP NO. 130179SB1 Schedule K, Part I Loan Amendment In August of 2021 the University amended its California Educational Facilities Authority Series 2017 loan (the "2017 Loan") having proceeds of $31,310,000. The amendment, which altered the 2017 Loan interest rate and repayment schedule, resulted in a deemed refunding and reissuance of the 2017 Loan; the 2017 Loan, however, continues to exist on substantially the same terms and subject to the same conditions as it did upon its initial issuance. Dennis Miller Family Member of Officer 149743 Employee false Alicia Kletter Family Member of Trustee 98786 Employee false Schedule L, Part IV REVIEW BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES IS RESPONSIBLE FOR oversight of ALL MATTERS OF COMPENSATION. THE COMPENSATION COMMITTEE IS COMPRISED SOLELY OF INDEPENDENT TRUSTEES, NONE OF WHOM HAVE A CONFLICT OF INTEREST WITH RESPECT TO ANY COMPENSATION ARRANGEMENT; THE COMPENSATION COMMITTEE IS ACCOUNTABLE FOR SETTING REASONABLE COMPENSATION PACKAGES FOR OFFICERS, Disqualified individuals (as DEFINED UNDER SECTION 4958 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED), AND KEY EMPLOYEES. BECAUSE THE INDIVIDUALs LISTED IN SCHEDULE L, PART IV are FAMILY MEMBERs OF DISQUALIFIED INDIVIDUALs, THE COMPENSATION COMMITTEE IS ALSO ACCOUNTABLE FOR SETTING THE REASONABLE COMPENSATION PACKAGE FOR THese INDIVIDUALs. THE COMPENSATION COMMITTEE DEVELOPS, CONSISTENT WITH THE UNIVERSITY'S VISION, MISSION, AND VALUES, THE ANNUAL PERFORMANCE GOALS AND CRITERIA TO BE USED IN DETERMINING MERIT INCREASES AND VARIABLE COMPENSATION CRITERIA FOR THese INDIVIDUALs. THE COMPENSATION COMMITTEE (IN COORDINATION WITH THE UNIVERSITY'S HUMAN RESOURCES DEPARTMENT) ALSO REVIEWS COMPARABLE COMPENSATION AND BENEFITS INFORMATION TO ANALYZE AND PROVIDE BENCHMARKING DATA FOR THE TOTAL COMPENSATION AND BENEFITS PACKAGE OF THese INDIVIDUALs. APPROPRIATE COMPARABILITY DATA IS OBTAINED FROM INDEPENDENT EXPERTS, INCLUDING TOTAL ECONOMIC BENEFITS PAID BY SIMILARLY SITUATED ORGANIZATIONS (BOTH TAXABLE AND TAX-EXEMPT) FOR SIMILAR JOB RESPONSIBILITIES. KEY DELIBERATIONS OF THE COMPENSATION COMMITTEE ARE contemporaneously DOCUMENTED IN MINUTES WHICH ARE APPROVED AT THE NEXT COMPENSATION COMMITTEE MEETING. Contemporaneous written minutes of all meeting of the Board of Trustees are maintained by the Office of the President. The family member of a Trustee included in Part IV was compensated in accordance with the collectively bargained rates for all full-time faculty members of the University. X 2 596142 Market value X 20 675424 Market value 1 false true false Schedule M, Part I Explanations of reporting method for number of contributions Securities - Publicly traded - The University is reporting the number of contributions. Intellectual property - The University is reporting the number of contributions. Form 990, Part III, Line 4d Description of other program services (Expenses $ 4,263,967 including grants of $ 0)(Revenue $ 93) Other Program Services include SPONSORED RESEARCH and EXPENDITURES FOR RESEARCH AND TRAINING. Per the instructions for Part III, Lines 4(a) - (d), charitable contributions and grants reported on Part VIII, line 1, are not considered revenue derived from program services. Form 990, Part IV, Line 11f FIN 48 (ASC 740) Footnote The University does not maintain any uncertain tax positions; accordingly, the University's audited financial statements do not include a footnote for ASC 740 (formerly FIN 48). Form 990, Part V, Line 4b Financial Accounts in Foreign Countries The University continues to maintain a bank account in the Philippines to finalize residual expenses. Form 990, Part VI, Line 1a Voting Members of the Governing Body The number of voting members listed under Part VI, Section A, Line 1a is less than the number of Trustees listed under Part VII, Section A because the Trustees begin and end terms in June. Some Trustees listed under Part VII only served for a short period of time during the current reporting fiscal year. Form 990, Part VI, Line 11b Review of form 990 by governing body THE Associate Vice President for Tax Compliance, Internal Audit, and Payroll Services (the "AVP," WHO REPORTS TO THE University's Vice President for Business and Finance) IS RESPONSIBLE FOR OVERSEEING ALL TAX COMPLIANCE MATTERS FOR THE UNIVERSITY OF SAN FRANCISCO, INCLUDING, but not limited to, THE PREPARATION OF THE UNIVERSITY'S IRS FORM 990; ACCORDINGLY, UNDER HIS DIRECTION (AND WITH THE ASSISTANCE OF THE UNIVERSITY'S EXTERNAL TAX ADVISORS AT PRICEWATERHOUSECOOPERS, LLP), THE UNIVERSITY'S IRS FORM 990 IS PREPARED BY THE SENIOR TAX ACCOUNTANT IN THE UNIVERSITY'S OFFICE OF TAX COMPLIANCE, Internal Audit, and Payroll Services. THEREAFTER, THE UNIVERSITY'S IRS FORM 990 IS REVIEWED BY THE SENIOR TAX ACCOUNTANT'S SUPERVISOR, THE DIRECTOR OF TAX COMPLIANCE. NEXT, THE UNIVERSITY'S VICE PRESIDENT FOR BUSINESS AND FINANCE AND the AVP CONCURRENTLY REVIEW THE UNIVERSITY'S IRS FORM 990 WITH THE UNIVERSITY'S EXTERNAL TAX ADVISORS (PRICEWATERHOUSECOOPERS, LLP) WHO REVIEW IT ONE FINAL TIME BEFORE THE FULL IRS FORM 990 IS PROVIDED TO THE UNIVERSITY'S AUDIT COMMITTEE OF ITS BOARD OF TRUSTEES, WHICH HAS BEEN DELEGATED APPROPRIATE AUTHORITY TO REVIEW THE RETURN ON BEHALF OF THE BOARD OF TRUSTEES. SUBSEQUENT TO ITS REVIEW, THE AUDIT COMMITTEE REPORTS BACK TO THE FULL BOARD OF TRUSTEES REGARDING ITS OVERSIGHT OF IRS FORM 990, AND THE FINAL DRAFT OF THE UNIVERSITY'S IRS FORM 990 (INCLUDING ALL REQUIRED SCHEDULES THERETO) IS PROVIDED TO THE ENTIRE BOARD OF TRUSTEES SO IT IS ABLE TO MAKE ANY APPROPRIATE INQUIRIES REGARDING THE DATA CONTAINED IN THE UNIVERSITY'S IRS FORM 990 BEFORE THE RETURN IS FILED. Form 990, Part VI, Line 12c Conflict of interest policy UNDER THE TERMS OF ITS CHARTER, THE AUDIT COMMITTEE OF THE UNIVERSITY'S BOARD OF TRUSTEES IS CHARGED WITH MONITORING PROPOSED OR ONGOING TRANSACTIONS FOR CONFLICTS OF INTEREST AND ADDRESSING ANY POTENTIAL OR ACTUAL CONFLICTS of interest. PURSUANT TO THE UNIVERSITY'S CONFLICT OF INTEREST POLICY, AN ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE, AIMED AT DETERMINING ANY FAMILY AND BUSINESS RELATIONSHIPS AND TRANSACTIONS OR OTHER TRANSACTIONS THAT MAY POSE A POTENTIAL CONFLICT of interest, IS DISTRIBUTED TO ALL NECESSARY PARTIES (I.E., BOARD MEMBERS, OFFICERS AND EXECUTIVE LEADERSHIP, AND KEY EMPLOYEES). COVERED PERSONS ARE REQUIRED TO DISCLOSE ACTUAL OR POTENTIAL CONFLICTS of interest AT THE TIME WHEN SUCH CONFLICTS ARISE. WHEN SOMEONE BECOMES A COVERED PERSON AND ANNUALLY THEREAFTER, EACH COVERED PERSON IS REQUIRED TO SIGN A STATEMENT AFFIRMING THAT they: (1) have RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY; (2) have READ THE POLICY AND UNDERSTAND SAID POLICY; AND (3) AGREE TO COMPLY WITH ALL REQUIREMENTS OF THE POLICY, INCLUDING COMPLETING THE ANNUAL CONFLICT OF INTEREST QUESTIONNAIRE. THE COMPLETED QUESTIONNAIRES FOR MEMBERS OF THE UNIVERSITY'S BOARD OF TRUSTEES ARE REVIEWED BY THE Associate Vice President for Tax Compliance, Internal Audit, and Payroll Services (the "AVP"). THEREAFTER, THE UNIVERSITY'S GENERAL COUNSEL AND the AVP REVIEW THE COMPLETED QUESTIONNAIRES FOR ANY PERSONS WITH ACTUAL OR POTENTIAL CONFLICTS, AND THESE INDIVIDUALS ARE NOTIFIED VIA WRITTEN COMMUNICATION. MOREOVER, THE AVP REPORTS ANY ACTUAL OR POTENTIAL CONFLICTS of interest TO THE Vice President for Business and Finance AND THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES (as well as the University President, where appropriate). THE COMPLETED QUESTIONNAIRES FOR OFFICERS AND EXECUTIVE LEADERSHIP OR KEY EMPLOYEES ARE REVIEWED BY THE AVP. THEREAFTER, THE UNIVERSITY'S GENERAL COUNSEL AND the AVP REVIEW THE COMPLETED QUESTIONNAIRES FOR ANY PERSONS WITH ACTUAL OR POTENTIAL CONFLICTS of interest, AND THESE INDIVIDUALS ARE NOTIFIED VIA WRITTEN COMMUNICATION. FURTHERMORE, THE AVP REPORTS ANY ACTUAL OR POTENTIAL CONFLICTS of interest TO THE Vice President for Business and Finance AND THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES (as well as the University President, where appropriate). THE PROCEDURES FOR ADDRESSING ANY CONFLICT OF INTEREST INCLUDE, BUT ARE NOT LIMITED TO, THE FOLLOWING: (1) THE CONFLICTING INTEREST IS FULLY DISCLOSED TO THE BOARD OF TRUSTEES; (2) THE INTERESTED PERSON RESPONDS TO FACTUAL QUESTIONS RELATED TO THE SUBSTANCE OF THE TRANSACTION OR ARRANGEMENT BEING CONSIDERED, AFTER WHICH they SHALL LEAVE THE MEETING; (3) THE PERSON WITH THE CONFLICT OF INTEREST IS EXCLUDED FROM THE DISCUSSION AND APPROVAL OF ANY PROPOSED TRANSACTION; (4) ALTERNATIVES TO THE PROPOSED TRANSACTION ARE INVESTIGATED, COMPETITIVE BIDS OR COMPARABLE VALUATIONS ARE OBTAINED (where feasible); (5) ANY CONFLICTING ISSUES ARISING DURING THE COURSE OF A BOARD OF TRUSTEES' MEETING WHICH CANNOT BE RESOLVED ARE REFERRED TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES; AND (6) THE TRANSACTION OR ACTION MUST BE APPROVED BY A MAJORITY OF DISINTERESTED PERSONS. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES IS RESPONSIBLE FOR oversight of ALL executive compensation MATTERS. THE COMPENSATION COMMITTEE IS COMPRISED SOLELY OF INDEPENDENT TRUSTEES, NONE OF WHOM HAVE A CONFLICT OF INTEREST WITH RESPECT TO any COMPENSATION ARRANGEMENT; THE COMPENSATION COMMITTEE IS ACCOUNTABLE FOR SETTING REASONABLE COMPENSATION PACKAGES FOR THE UNIVERSITY'S CEO - THE UNIVERSITY PRESIDENT. THE COMPENSATION COMMITTEE DEVELOPS, CONSISTENT WITH THE UNIVERSITY'S VISION, MISSION, AND VALUES, THE ANNUAL PERFORMANCE GOALS AND CRITERIA TO BE USED IN DETERMINING MERIT INCREASES AND VARIABLE COMPENSATION CRITERIA FOR THE UNIVERSITY PRESIDENT. THE COMPENSATION COMMITTEE (IN COORDINATION WITH THE UNIVERSITY'S HUMAN RESOURCES DEPARTMENT) ALSO REVIEWS COMPARABLE COMPENSATION AND BENEFITS INFORMATION TO ANALYZE AND PROVIDE BENCHMARKING DATA FOR THE TOTAL COMPENSATION AND BENEFITS PACKAGE OF THE UNIVERSITY PRESIDENT. APPROPRIATE COMPARABILITY DATA IS OBTAINED FROM INDEPENDENT EXPERTS, INCLUDING TOTAL ECONOMIC BENEFITS PAID BY SIMILARLY SITUATED ORGANIZATIONS (BOTH TAXABLE AND TAX-EXEMPT) FOR SIMILAR JOB RESPONSIBILITIES. KEY DELIBERATIONS OF THE COMPENSATION COMMITTEE ARE contemporaneously DOCUMENTED IN MINUTES WHICH ARE APPROVED AT THE NEXT COMPENSATION COMMITTEE MEETING. Contemporaneous written minutes of all Board of Trustee meetings are maintained by the Office of the President. WHEREAS THE UNIVERSITY PRESIDENT IS A JESUIT PRIEST WHO HAS TAKEN A VOW OF POVERTY, ALL OF HIS EARNINGS ARE PAID DIRECTLY TO THE SOCIETY OF JESUS (THE JESUIT ORDER). Form 990, Part VI, Line 15b Process to establish compensation of other employees THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES IS RESPONSIBLE FOR oversight of ALL executive compensation matters. THE COMPENSATION COMMITTEE IS COMPRISED SOLELY OF INDEPENDENT TRUSTEES, NONE OF WHOM HAVE A CONFLICT OF INTEREST WITH RESPECT TO ANY COMPENSATION ARRANGEMENT; THE COMPENSATION COMMITTEE IS ACCOUNTABLE FOR SETTING REASONABLE COMPENSATION PACKAGES FOR OFFICERS (including the University President), Disqualified individuals (DEFINED UNDER SECTION 4958 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED), AND KEY EMPLOYEES. THE COMPENSATION COMMITTEE DEVELOPS, CONSISTENT WITH THE UNIVERSITY'S VISION, MISSION, AND VALUES, THE ANNUAL PERFORMANCE GOALS AND CRITERIA TO BE USED IN DETERMINING MERIT INCREASES AND VARIABLE COMPENSATION CRITERIA FOR OFFICERS AND KEY EMPLOYEES. THE COMPENSATION COMMITTEE (IN COORDINATION WITH THE UNIVERSITY'S HUMAN RESOURCES DEPARTMENT) ALSO REVIEWS COMPARABLE COMPENSATION AND BENEFITS INFORMATION TO ANALYZE AND PROVIDE BENCHMARKING DATA FOR THE TOTAL COMPENSATION AND BENEFITS PACKAGES OF OFFICERS AND KEY EMPLOYEES. APPROPRIATE COMPARABILITY DATA IS OBTAINED FROM INDEPENDENT EXPERTS, INCLUDING TOTAL ECONOMIC BENEFITS PAID BY SIMILARLY SITUATED ORGANIZATIONS (BOTH TAXABLE AND TAX-EXEMPT) FOR SIMILAR JOB RESPONSIBILITIES. KEY DELIBERATIONS OF THE COMPENSATION COMMITTEE ARE contemporaneously DOCUMENTED IN MINUTES WHICH ARE APPROVED AT THE NEXT COMPENSATION COMMITTEE MEETING. Contemporaneous written minutes of all Board of Trustee meetings are maintained by the Office of the President. Form 990, Part VI, Line 19 Required documents available to the public WHILE APPLICABLE FEDERAL TAX LAWS DO NOT MANDATE THAT THE UNIVERSITY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS BE MADE AVAILABLE FOR PUBLIC INSPECTION, THE UNIVERSITY VOLUNTARILY MAKES EACH OF THE FOREGOING AVAILABLE ON ITS WEBSITE WWW.USFCA.EDU AND UPON REQUEST. Form 990, Part X, Line 7 NOTES AND LOANS RECEIVABLE, NET - AS DETAILED IN Note 1 of THE UNIVERSITY'S AUDITED FINANCIAL STATEMENTS, OTHER RECEIVABLES CONSIST OF FEDERAL DIRECT LOANS THAT WERE DISBURSED TO STUDENTS BUT HAVE NOT BEEN RECEIVED FROM THE U.S. DEPARTMENT OF EDUCATION, GRANTS RECEIVABLE, RENT RECEIVABLE, EMPLOYEE NOTES RECEIVABLE AND OTHER MISCELLANEOUS RECEIVABLES. THE UNIVERSITY BELIEVES THESE AMOUNTS ARE FULLY COLLECTIBLE. THE MOST SIGNIFICANT PORTION OF OTHER RECEIVABLES IS THE FEDERAL DIRECT LOAN AMOUNT, TOTALING $8,277,000 and $9,608,000 AS OF MAY 31, 2024 AND 2023, RESPECTIVELY. Form 990, Part X, Line 26 On November 21, 2018, the CEFA Series 2018A tax-exempt bonds were issued totaling $140,000,000. The proceeds from these bonds were used for the construction of the University's new Lone Mountain East dormitory. Bond proceeds were held in trust by BNY Mellon and were invested at durations intended to match the cash needs for the project. Simultaneously with the 2018A Bonds, the CEFA Series 2018B taxable bonds were issued totaling $35,880,000. The proceeds from these bonds were used to advance refund the CEFA Series 2011 taxable fixed rate bonds, which carried a higher coupon rate. Form 990, Part X, Line 12 Investments The change in balance between the beginning of the year and the end of the year reflected on Line 12 (Investments - other securities) and Line 15 (Other assets) of Form 990, Part X, reflects a change in presentation. Alternative investments are now included on Line 12 and are detailed on Schedule D, Part VII (previously listed on Schedule D, Part IX). Schedule F, Part I, Line 3 East Asia and the Pacific The University of San Francisco has ceased activities and operations in its former program in the Philippines; the University continues to maintain a bank account in the Philippines to finalize residual expenses. Section 1.263(a)-3(n) Capitalization Election The University hereby elects to capitalize repair and maintenance costs under Treas. Reg. Sec. 1.263(a)-3(n). The costs were incurred during the taxable year in the University's trade or business, and the University treats such costs as capital expenditures on its books and records. USF MANILA INC C/O USF 2130 FULTON STREET SAN FRANCISCO CA 941171080 981046690 Inactive RP 0 4729 UNIVERSITY OF SAN FRANCISCO Star Route Farms LLC 95 Olema Bolinas Rd Bolinas CA 94924 821997210 Farming CA 2339207 9972512 University of San Francisco Charitable Remainder Trusts (4) Charitable Trust CA N/A Trust false Schedule R, Part I USF Manila, Inc. USF Manila, Inc. has ceased operations and activities; the University of San Francisco continues to maintain a bank account in Manila to handle residual expenses.