2026-05-14T12:23:20-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 121 SOUTH TEJON STREET SUITE 1100 COLORADO SPRINGS CO 80903 990 2024-07-01 201269904 NATIONAL UNIVERSITY FOUNDATION NATI 8586428100 9388 LIGHTWAVE AVENUE SAN DIEGO CA 92123 KAREN WHITNEY CFO 8586428100 2026-05-12 1 0 SARAH HINTZ P00492291 7196350330 2026-04-20 2024 2025-03-06 01:10:19Z KAREN WHITNEY 9388 LIGHTWAVE AVENUE SAN DIEGO CA 92123 400988 0 X FOUNDATION.NU.EDU X 2005 CA CREATING AND NURTURING A CULTURE OF GIVING AND PHILANTHROPY THAT EXTENDS TO OUR STAFF, FACULTY, STUDENTS, GRADUATES, AND COMMUNITY PARTNERS. A CULTURE OF SHARED VALUES AND COLLECTIVE IMPACT, WHERE EVERY COMMUNITY MEMBER AND EVERY CONTRIBUTION STRENGTHENS OUR EDUCATIONAL MISSION AND BUILDS A LEGACY OF COMPASSION AND INNOVATION. IN AUGUST 2023 SYSTEM MANAGEMENT GROUP CHANGED ITS NAME TO NATIONAL UNIVERSITY FOUNDATION (NUF) WITH FUNDRAISING ACTIVITY COMMENCING IN 2024. 4 3 0 3 0 0 112680 332238 0 0 0 0 0 68750 112680 400988 0 0 0 0 0 262793 0 0 93270 0 0 0 262793 112680 138195 112680 455470 0 204595 112680 250875 X TO CULTIVATE PARTNERSHIPS, SECURE RESOURCES, AND PRODUCTIVELY ENGAGE DONORS, ALUMNI, AND OTHER SUPPORTERS TO ADVANCE NU AND AFFILIATES IN THE ACHIEVEMENT OF THEIR VITAL WORK. 0 0 127142 0 0 IN ITS FIRST YEAR OF FULL OPERATIONS, NUF LAUNCHED ITS FUNDRAISING ACTIVITIES TO SUPPORT NATIONAL UNIVERSITY STUDENTS. INITIAL COSTS FOR THE FIRST YEAR INCLUDED INFRASTRUCTURE, TECHNOLOGY, REGISTRATIONS AND OTHER START-UP COSTS. NUF HOSTED ITS INAUGURAL SIGNATURE EVENT, ENGAGING DONORS, ALUMNI, AND COMMUNITY STAKEHOLDERS TO RAISE AWARENESS AND FUNDS FOR STUDENT SCHOLARSHIPS. PROCEEDS FROM THE EVENT ARE DESIGNATED TO HELP REDUCE FINANCIAL BARRIERS AND EXPAND EDUCATIONAL OPPORTUNITIES FOR ELIGIBLE NU STUDENTS.ADDITIONALLY, NUF ESTABLISHED KEY OPERATIONAL AND GOVERNANCE PRACTICES TO SUPPORT EFFECTIVE STEWARDSHIP OF DONOR FUNDS AND COMPLIANCE WITH NONPROFIT REQUIREMENTS. THESE FOUNDATIONAL EFFORTS POSITION NUF TO GROW ITS FUNDRAISING CAPACITY AND INCREASE NU STUDENT SUPPORT IN FUTURE YEARS. 127142 1 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 4 3 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 CA X MICHELLE BELLO 8586428100 9388 LIGHTWAVE AVENUE SAN DIEGO CA 92123 X MARK MILLIRON PRESIDENT/CEO 3.00 45.20 X X 0 992000 61175 JEANNE CONNELLY CHAIR 0.50 3.30 X X 0 0 0 RICHARD CHISHOLM TREASURER 0.50 3.30 X X 0 0 0 THOMAS TOPUZES SECRETARY 0.50 3.30 X X 0 0 0 CHRISTOPHER GRAHAM PRESIDENT BEG 6/25 0.00 45.00 X X 0 301813 32021 KAREN WHITNEY CFO 3.00 45.20 X 0 448500 61878 MICHELLE BELLO ASSISTANT SECRETARY 3.00 45.20 X 0 356315 37135 NANCY ROHLAND EXECUTIVE DIRECTOR THRU 6/25 3.00 45.10 X 0 304081 44380 DAVE LAWRENCE FORMER CFO THRU 4/24 3.20 45.00 X 0 419271 48384 0 2821980 284973 0 1 1 0 0 167155 11150 153933 332238 68750 167155 0 68750 68750 400988 0 0 68750 138535 103901 34634 76274 76274 31433 15204 5068 11161 16551 8037 2679 5835 262793 127142 42381 93270 112680 60500 0 394970 112680 455470 204595 0 204595 X 112680 250875 112680 250875 112680 455470 138195 0 X X 0 1 X 1 0 X X X 4 NATIONAL UNIVERSITY 237172306 2 1 0 0 CITY UNIVERSITY OF SEATTLE 237421224 2 1 0 0 JOHN F KENNEDY UNIVERSITY 941610694 2 1 0 0 NATIONAL UNIVERSITY VIRTUAL HIGH SCHOOL 562438569 10 1 0 0 4 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 DUE FROM AFFILIATE 394970 394970 X PART X, LINE 2: NATIONAL UNIVERISTY FOUNDATION IS A NONPROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND RELATED STATE PROVISIONS AND, AS SUCH, IS NOT SUBJECT TO FEDERAL AND STATE INCOME TAXES EXCEPT TO THE EXTENT OF UNRELATED BUSINESS INCOME. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. INCOME TAX BENEFITS AND/OR LIABILITIES ARE RECOGNIZED FOR INCOME TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN ONLY WHEN IT IS DETERMINED THAT THE INCOME TAX POSITION WILL MORE LIKELY THAN NOT BE SUSTAINED UPON EXAMINATION BY TAXING AUTHORITIES. NUF HAS ANALYZED THE TAX POSITIONS TAKEN IN THEIR FILINGS WITH THE INTERNAL REVENUE SERVICE (IRS) AND THE CALIFORNIA FRANCHISE TAX BOARD. NUF BELIEVES INCOME TAX FILING POSITIONS WILL BE SUSTAINED UPON EXAMINATION AND DO NOT ANTICIPATE ANY ADJUSTMENTS THAT WOULD RESULT IN A MATERIAL ADVERSE EFFECT ON NUF'S FINANCIAL CONDITION, CHANGES IN NET ASSETS, OR CASH FLOWS. ACCORDINGLY, NUF HAS NOT RECORDED ANY RESERVES OR RELATED ACCRUALS FOR INTEREST AND PENALTIES FOR UNCERTAIN INCOME TAX POSITIONS AT JUNE 30, 2025 AND 2024. GALA 235905 167155 68750 67913 84807 6427 46657 235905 167155 68750 67913 84807 6427 46657 205804 -137054 SCHEDULE G, PART II, LINE 10 DIRECT EXPENSES WERE PAID VIA DONATED SERVICES FROM A RELATED ENTITY X X X 1 1 0 0 0 0 0 0 0 0 0 MARK MILLIRON PRESIDENT/CEO 0 800000 0 84000 0 108000 0 24150 0 37025 0 1053175 0 0 KAREN WHITNEY CFO 0 409500 0 39000 0 0 0 24150 0 37728 0 510378 0 0 DAVE LAWRENCE FORMER CFO THRU 4/24 0 419271 0 0 0 0 0 21387 0 26997 0 467655 0 0 MICHELLE BELLO ASSISTANT SECRETARY 0 303263 0 53052 0 0 0 24058 0 13077 0 393450 0 0 NANCY ROHLAND EXECUTIVE DIRECTOR THRU 6/25 0 277068 0 27013 0 0 0 14820 0 29560 0 348461 0 0 CHRISTOPHER GRAHAM PRESIDENT BEG 6/25 0 275000 0 26813 0 0 0 19523 0 12498 0 333834 0 0 PART I, LINE 3 NATIONAL UNIVESITY FOUNDATION (NUF) HAS NO PAID EMPLOYEES. THE COMPENSATION SHOWN IS PAID BY NATIONAL UNIVERSITY (NU) FOR EMPLOYEES OF NU, AN AFFILIATE OF NUF, WHO SHARES COMMON LEADERSHIP OF OFFICERS. COMPENSATION OF THE PRESIDENT OF THE UNIVERSITY IS REVIEWED BY THE BOARD AT THE TIME OF HIRING AND AS NECESSARY THEREAFTER. COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES IS REVIEWED BY THE EXECUTIVE COMMITTEE. COMPENSATION IS DETERMINED WITH REGARD TO COMPENSATION PAID TO SENIOR EXECUTIVES OF COMPARABLE NON-PROFIT AND PROPRIETARY INSTITUTIONS IN EDUCATION AND OTHER FIELDS. THE PROCESS IS DOCUMENTED AND WAS LAST COMPLETED IN JUNE 2025. FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE BOARD CHAIR AS THE CHAIR OF THE EXECUTIVE COMMITTEE, THE TREASURER, THE SECRETARY, THE FOUNDATION CEO, WHO SHALL BE AN EX-OFFICIO MEMBER OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE IS EMPOWERED TO ACT FOR THE BOARD BETWEEN REGULAR BOARD MEETINGS ON ALL MATTERS, EXCEPT FOR THE FOLLOWING: (A) ELECTING, APPOINTING, OR REMOVING ANY MEMBER OF ANY COMMITTEE THAT HAS THE AUTHORITY OF THE BOARD OR ANY OFFICER OR DIRECTOR, INCLUDING THE FILLING OF VACANCIES ON THE BOARD OR ON ANY COMMITTEE WHICH HAS THE AUTHORITY OF THE BOARD; (B) THE AUTHORIZATION OF THE SALE, LEASE, CONVEYANCE, EXCHANGE, OR TRANSFER OF ALL OR SUBSTANTIALLY ALL OF THE PROPERTY AND ASSETS OF THE FOUNDATION NOT IN THE ORDINARY COURSE OF BUSINESS; (C) THE AUTHORIZATION OF THE VOLUNTARY DISSOLUTION OF THE FOUNDATION OR THE REVOCATION OF PROCEEDINGS THEREFOR; (D) THE ADOPTION OF A PLAN FOR THE DISTRIBUTION OF THE ASSETS OF THE FOUNDATION; (E) THE APPOINTMENT OF OTHER COMMITTEES OF THE BOARD IF SUCH COMMITTEE WILL HAVE THE AUTHORITY OF THE BOARD; (F) THE ACCEPTANCE OF THE ANNUAL FINANCIAL AUDIT PERFORMED BY AN INDEPENDENT AUDITOR, BUT MAY REVIEW AND DETERMINE CONSISTENT WITH SECTION 4.22(C)(2) OF THE BYLAWS; (G) THE APPROVAL OF ANY SELF-DEALING TRANSACTION DESCRIBED IN SECTION 5233 OF THE LAW, EXCEPT THAT WHEN IT IS NOT REASONABLY PRACTICABLE TO OBTAIN APPROVAL OF THE BOARD PRIOR TO ENTERING INTO SUCH A TRANSACTION, A COMMITTEE AUTHORIZED BY THE BOARD MAY APPROVE THE TRANSACTION IN A MANNER CONSISTENT WITH THE STANDARDS SET FORTH IN SECTION 5233(D) OF THE LAW SUBJECT TO RATIFICATION BY A MAJORITY OF THE DIRECTORS THEN IN OFFICE (WITHOUT COUNTING THE VOTE OF ANY INTERESTED DIRECTORS) AT THE NEXT MEETING OF THE BOARD; OR (H) THE APPROVAL OF ANY OTHER ACTIONS THAT, PURSUANT TO THESE BYLAWS, THE ARTICLES OF INCORPORATION, OR APPLICABLE LAW, MAY NOT BE DELEGATED TO A COMMITTEE. FORM 990, PART VI, SECTION A, LINE 7A A DIRECTOR SHALL BE NOMINATED BY THE FOUNDATION CEO AND A MAJORITY OF THE DIRECTORS ELECTED BY THE BOARDS OF TRUSTEES OF NU AND CITYU. THE FOUNDATION CEO WILL NOMINATE CANDIDATES AT LEAST 30 DAYS, OR AS SOON AS PRACTICABLE, PRIOR TO THE MEETING AT WHICH THE NU AND CITY U BOARDS OF TRUSTEES WILL CONSIDER THE NOMINEE FOR ELECTION. DIRECTORS SHALL BE ELECTED UPON A MAJORITY VOTE OF TRUSTEES THEN IN OFFICE. FORM 990, PART VI, SECTION A, LINE 7B ANY DIRECTOR OR DIRECTORS MAY BE REMOVED FROM OFFICE WITHOUT CAUSE IF SUCH REMOVAL IS APPROVED BY A MAJORITY OF THE BOARD OF TRUSTEES OF NU AND CITY U OR A MAJORITY OF THE DIRECTORS THEN IN OFFICE AND RATIFIED A MAJORITY OF THE BOARDS OF TRUSTEES OF NU AND CITY U. THE BYLAWS MAY BE AMENDED OR REPEALED, SUBJECT TO THE PROVISIONS OF THE LAW, BY THE APPROVAL OF THE BOARD; PROVIDED, HOWEVER, THAT AMENDMENTS TO SECTION 4.3, SECTION 4.5, SECTION 4.9, AND SECTION 5.7 MAY BE AMENDED ONLY BY OR WITH THE CONSENT OF THE BOARDS OF TRUSTEES OF NU AND CITY U. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT FORM 990 WAS DISTRIBUTED TO SENIOR MANAGEMENT AND THE AUDIT COMMITTEE. THE FINAL VERSION OF FORM 990 WAS DISTRIBUTED TO THE TRUSTEES FOR REVIEW BEFORE FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF TRUSTEES HAS ANNUALLY REVIEWED AND APPROVED (BY A MAJORITY OF DISINTERESTED PARTIES) THE BUSINESS TRANSACTIONS WITH TRUSTEES OR THEIR AFFILIATED PROFESSIONAL SERVICE FIRMS. SUCH REVIEWS INCLUDE CONSIDERATION OF DATA ON COMPARABLE SERVICE PROVIDERS COLLECTED BY UNIVERSITY COUNSEL. THE INTERESTED TRUSTEES WERE EXCUSED FROM BOARD SESSIONS DURING WHICH THOSE BUSINESS TRANSACTIONS WERE DISCUSSED AND DID NOT PARTICIPATE IN VOTING ON SUCH TRANSACTIONS. QUESTIONNAIRES ARE DISTRIBUTED EVERY JANUARY. COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS MONITORED BY UNIVERSITY COUNSEL AND WAS REVIEWED BY THE BOARD DURING THE YEAR ENDED JUNE 30, 2025. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VII EMPLOYEES OF THE FOUNDATION ARE ALSO EMPLOYED BY A RELATED ORGANIZATION, NATIONAL UNIVERSITY, WHICH PROCESSES PAYROLL AND ISSUES FORMS W2. THE RELATED ORGANIZATION CHARGES THE FOUNDATION FOR THE EMPLOYEES' SALARIES, BENEFITS, AND PAYROLL TAXES. THESE AMOUNTS ARE REPORTED IN PART VII, SECTION A, COLUMN (E) AS COMPENSATION FROM A RELATED ORGANIZATION. THE REIMBURSED PAYROLL COSTS ARE REPORTED BY THE FOUNDATION IN PART IX (STATEMENT OF FUNCTIONAL EXPENSES) AS COMPENSATION AND EMPLOYEE BENEFIT EXPENSES AND ARE ALLOCATED AMONG PROGRAM SERVICES, MANAGEMENT AND GENERAL, AND FUNDRAISING BASED ON THE SERVICES PERFORMED. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. NATIONAL UNIVERSITY 9388 LIGHTWAVE AVENUE SAN DIEGO CA 92123 237172306 EDUCATIONAL INSTITUTION CA 501(C)(3) LINE 2 N/A 0 CITY UNIVERSITY OF SEATTLE 521 WALL STREET SEATTLE WA 98121 237421224 EDUCATIONAL INSTITUTION WA 501(C)(3) LINE 2 N/A 0 JOHN F KENNEDY UNIVERSITY 9388 LIGHTWAVE AVENUE SAN DIEGO CA 92123 941610694 EDUCATIONAL INSTITUTION CA 501(C)(3) LINE 2 N/A 0 NATIONAL UNIVERSITY VIRTUAL HIGH SCHOOL 9388 LIGHTWAVE AVENUE SAN DIEGO CA 92123 562438569 EDUCATIONAL INSTITUTION CA 501(C)(3) LINE 10 N/A 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 NATIONAL UNIVERSITY P 230352 COST NATIONAL UNIVERSITY Q 516353 COST