2026-05-15T10:57:44-04:00 2025-06-30 PwC US Tax LLP 655 NEW YORK AVE SUITE 1100 WASHINGTON DC 20001 990 2024-07-01 851454519 USC CAPTIVE INSURANCE COMPANY % UNIV OF SOUTHERN CALIFORNIA USCC 2138211900 100 BANK ST SUITE 630 BURLINGTON VT 05401 CASANDRA PORTER TREASURER 2138211900 2026-05-12 true true TRAVIS L PATTON P00369623 6175305000 2026-05-11 2024 2025-03-06 01:10:19Z X JASON BENNETT UNIVERSITY GARDENS UGB205 LOS ANGELES CA 900898003 9650 false X N/A X 2020 VT SEE SCHEDULE O 7 1 0 0 0 0 0 0 16566 9650 0 0 0 0 16566 9650 0 0 0 0 0 0 0 0 0 16566 3750 16566 3750 5900 251035 259651 1035 3751 250000 255900 X USC CAPTIVE INSURANCE COMPANY ("USCCIC") IS A PUBLIC BENEFIT CORPORATION AND SPONSORED CAPTIVE INSURANCE COMPANY ORGANIZED IN ACCORDANCE WITH THE VERMONT NONPROFIT CORPORATION ACT AND CHAPTER 141 OF TITLE 8 OF THE VERMONT STATUTES ANNOTATED. USCCIC IS ORGANIZED AND OPERATED AS A SUPPORTING ORGANIZATION DESCRIBED IN INTERNAL REVENUE CODE SECTION 509(A)(3) TO PROVIDE SERVICES AND RESOURCES FOR THE BENEFIT OF, TO PERFORM FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF, THE UNIVERSITY OF SOUTHERN CALIFORNIA (USC) AND USC'S TAX EXEMPT AFFILIATES, SO LONG AS USC AND SUCH AFFILIATES ARE DESCRIBED IN PARAGRAPHS (1) OR (2) OF SECTION 509(A). SPECIFICALLY, USCCIC'S SOLE PLANNED ACTIVITY IS TO FACILITATE SELF-INSURANCE WITH RESPECT TO CERTAIN CASUALTY EXPOSURES OF USC AND USC'S TAX-EXEMPT AFFILIATES. false false 3750 0 9650 USC CAPTIVE INSURANCE COMPANY ("USCCIC") IS A PUBLIC BENEFIT CORPORATION AND SPONSORED CAPTIVE INSURANCE COMPANY ORGANIZED IN ACCORDANCE WITH THE VERMONT NONPROFIT CORPORATION ACT AND CHAPTER 141 OF TITLE 8 OF THE VERMONT STATUTES ANNOTATED. USCCIC IS ORGANIZED AND OPERATED AS A SUPPORTING ORGANIZATION DESCRIBED IN INTERNAL REVENUE CODE SECTION 509(A)(3) TO PROVIDE SERVICES AND RESOURCES FOR THE BENEFIT OF, TO PERFORM FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF, THE UNIVERSITY OF SOUTHERN CALIFORNIA (USC) AND USC'S TAX EXEMPT AFFILIATES, SO LONG AS USC AND SUCH AFFILIATES ARE DESCRIBED IN PARAGRAPHS (1) OR (2) OF SECTION 509(A). SPECIFICALLY, USCCIC'S SOLE PLANNED ACTIVITY IS TO FACILITATE SELF-INSURANCE WITH RESPECT TO CERTAIN CASUALTY EXPOSURES OF USC AND USC'S TAX-EXEMPT AFFILIATES. 3750 true false false false false false false false false false false false false false true false true false false false false false false false false false false false true false false false false false false false false false false false false false true true false false true 0 0 0 false false false false false false false false false false false false X 7 1 true false false false true true true true false false false true true true true false false false X UNIV OF SOUTHERN CALIFORNIA 2138211900 UNIVERSITY GARDENS UGB205 LOS ANGELES CA 900898003 X STEVEN D SHAPIRO MD DIRECTOR 2.0 48.0 X 0 2914082 370964 ROD HANNERS DIRECTOR 2.0 48.0 X 0 2352451 146246 BEONG-SOO KIM DIRECTOR 2.0 48.0 X 0 1337795 254549 ERIK BRINK DIRECTOR 2.0 48.0 X 0 1261153 252727 CASANDRA PORTER TREASURER (AS OF 4/28/25)/DIR. 2.0 4.0 X X 0 528798 161532 CAROLYN DOMEN-BROSHEARS SECRETARY 2.0 48.0 X 0 471083 117076 CAROLINE WILHELM TREASURER (UNTIL 04/28/2025) 2.0 4.0 X 0 383748 137891 JASON BENNETT PRESIDENT/DIRECTOR 20.0 30.0 X X 0 444283 70234 WAJEEHA SHAKEEL FIN/DATA ANALYTICS MANAGER 25.0 25.0 X 0 154080 52189 DIANE HANSON DIRECTOR 2.0 0.0 X 0 0 0 0 9847473 1563408 0 false true false 0 0 PROGRAM FEE REVENUE 900099 9650 9650 9650 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 9650 9650 0 0 0 0 0 0 0 0 0 0 0 3750 3750 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 3750 3750 0 0 0 0 205264 255376 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 45771 4275 251035 259651 1035 3751 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1035 3751 X 0 0 0 0 250000 255900 250000 255900 251035 259651 5900 X false true X true X X 1 UNIVERSITY OF SOUTHERN CALIFORNIA 951642394 2 true 0 0 1 0 0 true false false false false false false false false false false false false false false true false 0 0 X SCHEDULE D, PART X, LINE 2: THE ORGANIZATION'S FINANCIAL STATEMENTS WERE AUDITED AS PART OF CONSOLIDATED FINANCIAL STATEMENTS. THE COMPANIES HAVE RECEIVED DETERMINATION LETTERS FROM THE INTERNAL REVENUE SERVICE DATED OCTOBER 13, 2021, INDICATING THE COMPANIES QUALIFY UNDER THE PROVISIONS OF SECTION 501 OF THE INTERNAL REVENUE CODE AS EXEMPT FROM FEDERAL INCOME TAXES. THE COMPANIES ACCOUNT FOR UNCERTAIN TAX POSITIONS IN ACCORDANCE WITH FASB ASC 740, "INCOME TAXES". FASB ASC 740 PROVIDES A FRAMEWORK FOR HOW COMPANIES SHOULD RECOGNIZE, MEASURE, PRESENT, AND DISCLOSE UNCERTAIN TAX POSITIONS IN THEIR FINANCIAL STATEMENTS. THE COMPANIES MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THE COMPANIES DID NOT RECORD ANY UNRECOGNIZED TAX BENEFITS AS OF JUNE 30, 2025, AND 2024. THE COMPANIES DO NOT BELIEVE IT IS REASONABLY POSSIBLE THAT ITS UNRECOGNIZED TAX BENEFITS WOULD MATERIALLY CHANGE IN THE NEXT TWELVE MONTHS. IN THE EVENT THE COMPANIES WERE TO BECOME SUBJECT TO FEDERAL INCOME TAXES, THE COMPANIES POLICY WOULD BE TO RECOGNIZE INTEREST AND PENALTIES RELATED TO INCOME TAXES AS COMPONENTS OF INTEREST AND PENALTIES EXPENSE INCLUDED WITHIN GENERAL AND ADMINISTRATIVE EXPENSES IN THE COMBINED STATEMENT OF OPERATIONS. AS OF JUNE 30, 2025, AND 2024, THE COMPANIES DID NOT RECORD ANY INTEREST OR PENALTIES ASSOCIATED WITH UNRECOGNIZED TAX BENEFITS. false true false false false false false false false JASON BENNETT PRESIDENT/DIRECTOR 0 397771 0 36000 0 10512 0 34500 0 35734 0 514517 0 0 CAROLYN DOMEN-BROSHEARS SECRETARY 0 385243 0 50000 0 35840 0 34500 0 82576 0 588159 0 0 CASANDRA PORTER TREASURER (AS OF 4/28/25)/DIR. 0 374710 0 135000 0 19088 0 34500 0 127032 0 690330 0 0 CAROLINE WILHELM TREASURER (UNTIL 04/28/2025) 0 348761 0 30000 0 4987 0 34500 0 103391 0 521639 0 0 WAJEEHA SHAKEEL FIN/DATA ANALYTICS MANAGER 0 150360 0 3500 0 220 0 16752 0 35437 0 206269 0 0 ERIK BRINK DIRECTOR 0 1058890 0 48750 0 153513 0 159500 0 93227 0 1513880 0 0 ROD HANNERS DIRECTOR 0 1469543 0 673253 0 209655 0 92192 0 54054 0 2498697 0 0 BEONG-SOO KIM DIRECTOR 0 878812 0 300000 0 158983 0 234500 0 20049 0 1592344 0 0 STEVEN D SHAPIRO MD DIRECTOR 0 1737647 0 775000 0 401435 0 234500 0 136464 0 3285046 0 0 SCHEDULE J, PART I, LINE 3 THE ORGANIZATION RELIES ON THE UNIVERSITY OF SOUTHERN CALIFORNIA (USC), A RELATED ORGANIZATION, TO ESTABLISH THE COMPENSATION OF THE PRESIDENT. SCHEDULE J, PART I, LINE 4B ERIK BRINK: UNDER HIS EMPLOYMENT AGREEMENT EFFECTIVE SEPTEMBER 13, 2023, THE CFO WAS ENTITLED TO A SIGNING BONUS OF $250,000 (ACCRUING AT $125,000 PER YEAR) SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE, WHICH VESTED AND WAS PAID IN 2025. FOR CALENDAR YEAR 2024 A RATABLE ACCRUAL OF $125,000 HAS BEEN INCLUDED IN SCHEDULE J, PART II, COLUMN (C). BEONG-SOO KIM: UNDER HIS EMPLOYMENT AGREEMENT DATED MAY 19, 2020, THE SENIOR VICE PRESIDENT & GENERAL COUNSEL, PARTICIPATED IN A RETENTION PROGRAM. THE RETENTION PROGRAM WAS AMENDED IN AUGUST 2022 AND PROVIDED THAT A PAYMENT OF $1,000,000 (ACCRUING AT $200,000 PER YEAR) IS SCHEDULED TO VEST AND BE PAYABLE IN 2026 SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE. AN ACCRUAL OF $200,000 HAS BEEN INCLUDED IN SCHEDULE J, PART II, COLUMN (C). STEVEN D. SHAPIRO, MD: UNDER HIS EMPLOYMENT AGREEMENT, THE SENIOR VICE PRESIDENT OF HEALTH AFFAIRS PARTICIPATED IN A RETENTION BONUS PLAN IN WHICH A PAYMENT OF $1,000,000 (ACCRUING AT $200,000 PER YEAR) IS SCHEDULED TO VEST AND BE PAYABLE IN 2026 SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE. FOR CALENDAR YEAR 2024 AN ACCRUAL OF $200,000 HAS BEEN INCLUDED IN SCHEDULE J, PART II, COLUMN (C). ROD HANNERS: DURING CALENDAR YEAR 2024, CEO OF KECK MEDICINE OF USC, PARTICIPATED IN A RETENTION BONUS PLAN IN WHICH A PAYMENT OF $750,000 IS SCHEDULED TO VEST AND BE PAYABLE IN JULY 2027, SUBJECT TO A SUBSTANTIAL RISK OF FORFEITURE. AN ACCRUAL OF $57,692 HAS BEEN INCLUDED IN SCHEDULE J, PART II, COLUMN (C). OTHER: IN 1994 USC CREATED A 457(F) SUPPLEMENTAL RETIREMENT PLAN TO PROVIDE MAKE-UP BENEFITS TO EMPLOYEES WHOSE COMPENSATION EXCEEDED THE EARNINGS LIMITATION FOR CONTRIBUTIONS TO THE USC DEFINED CONTRIBUTION RETIREMENT PLAN. AS OF JANUARY 1, 2005, THE PLAN WAS FROZEN AND PARTICIPANTS, WITH RESPECT TO FUTURE MAKE-UP BENEFITS, WERE NO LONGER PERMITTED TO DEFER THESE BENEFITS. SCHEDULE J, PART II NONE OF THE OFFICERS AND DIRECTORS OF THIS ORGANIZATION RECEIVED ANY COMPENSATION FROM THE FILING ORGANIZATION DURING 2024. DURING 2024, THE INDIVIDUALS REPORTED ON SCHEDULE J, PART II WERE EMPLOYEES OF THE ORGANIZATION'S SUPPORTED ORGANIZATION, THE UNIVERSITY OF SOUTHERN CALIFORNIA ("USC"). FORM 990, PART I, LINE 1, ORGANIZATION'S PRIMARY ACTIVITY USC CAPTIVE INSURANCE COMPANY ("USCCIC") IS A PUBLIC BENEFIT CORPORATION AND SPONSORED CAPTIVE INSURANCE COMPANY ORGANIZED IN ACCORDANCE WITH THE VERMONT NONPROFIT CORPORATION ACT AND CHAPTER 141 OF TITLE 8 OF THE VERMONT STATUTES ANNOTATED. USCCIC IS ORGANIZED AND OPERATED AS A SUPPORTING ORGANIZATION DESCRIBED IN INTERNAL REVENUE CODE SECTION 509(A)(3) TO PROVIDE SERVICES AND RESOURCES FOR THE BENEFIT OF, TO PERFORM FUNCTIONS OF, AND TO CARRY OUT THE PURPOSES OF, THE UNIVERSITY OF SOUTHERN CALIFORNIA (USC) AND USC'S TAX EXEMPT AFFILIATES, SO LONG AS USC AND SUCH AFFILIATES ARE DESCRIBED IN PARAGRAPHS (1) OR (2) OF SECTION 509(A). SPECIFICALLY, USCCIC'S SOLE PLANNED ACTIVITY IS TO FACILITATE SELF-INSURANCE WITH RESPECT TO CERTAIN CASUALTY EXPOSURES OF USC AND USC'S TAX-EXEMPT AFFILIATES. FORM 990, PART VI, SECTION A, LINE 2 CERTAIN INDIVIDUALS LISTED IN PART VII ARE OFFICERS AND DIRECTORS OF THE UNIVERSITY OF SOUTHERN CALIFORNIA, A RELATED ORGANIZATION. ALL INDIVIDUALS LISTED WITH RELATED ORGANIZATION COMPENSATION ARE COMPENSATED BY THE UNIVERSITY. FORM 990, PART VI, SECTION A, LINES 6, 7A, AND 7B THE SOLE CORPORATE MEMBER OF THE ORGANIZATION IS THE UNIVERSITY OF SOUTHERN CALIFORNIA, A CALIFORNIA TAX-EXEMPT ORGANIZATION. THE CORPORATE MEMBER HAS THE AUTHORITY TO APPROVE DIRECTORS ELECTED BY THE BOARD AND REMOVE DIRECTORS AND THE AUTHORITY TO APPROVE CHANGES TO THE BYLAWS. ACTIONS REQUIRING APPROVAL OF THE CORPORATE MEMBER INCLUDE ANY CHANGES TO THE COMPOSITION OF THE BOARD OF DIRECTORS, AND BYLAW CHANGES. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S FORM 990 IS REVIEWED AT SEVERAL LEVELS. THE ORGANIZATION ENGAGES AN EXTERNAL PUBLIC ACCOUNTING FIRM TO ASSIST IN THE PREPARATION AND REVIEW OF ITS FORM 990 AND THAT SIGNS AS PAID PREPARER. THE REVIEW OF THE FINAL FORM 990 IS CONDUCTED BY THE CAPTIVE INSURANCE MANAGER, AON, INC. AND THE USC COMPTROLLER'S OFFICE PRIOR TO BOARD DISTRIBUTION AND IT BEING FILED WITH THE IRS. FORM 990, PART VI, LINES 12, 13, AND 14 AS A RELATED ORGANIZATION OF THE UNIVERSITY OF SOUTHERN CALIFORNIA, THE ORGANIZATION FOLLOWS THE UNIVERSITY'S POLICIES INCLUDING THE CONFLICT OF INTEREST POLICY: THE UNIVERSITY HAS A CONFLICT OF INTEREST AND COMMITMENT POLICY AND PROCEDURE WHICH COVERS ALL COVERED EMPLOYEES AND THEIR CLOSE RELATIONS. A "COVERED EMPLOYEE" MEANS ALL FACULTY MEMBERS (INCLUDING PART-TIME AND VISITING FACULTY), STAFF AND OTHER EMPLOYEES (SUCH AS POSTDOCTORAL SCHOLARS), AND STUDENTS (INCLUDING POSTDOCTORAL FELLOWS AND GRADUATE STUDENTS) EMPLOYED OR OTHERWISE ENGAGED BY THE UNIVERSITY. THE POLICY CONTINUES TO APPLY TO COVERED EMPLOYEES WHILE ON SABBATICAL OR OTHER LEAVES, WHILE VISITING OTHER INSTITUTIONS, AND WHILE CONSULTING WITH EXTERNAL ENTITIES. A "CLOSE RELATION" MEANS FAMILY MEMBERS (SPOUSES, DOMESTIC PARTNERS, SIBLINGS, PARENTS AND CHILDREN, GRANDPARENTS, GRANDCHILDREN, AND ANY INDIVIDUAL RELATED BY BLOOD OR AFFINITY WHOSE CLOSE ASSOCIATION WITH THE EMPLOYEE IS THE EQUIVALENT OF A FAMILY RELATIONSHIP) AND OTHER PERSONS WITH A PERSONAL RELATIONSHIP WITH A USC EMPLOYEE. EACH COVERED EMPLOYEE OWES PROFESSIONAL LOYALTY TO THE UNIVERSITY AND MUST BE ALERT TO THE POSSIBILITY THAT OUTSIDE OBLIGATIONS, FINANCIAL INTERESTS, EMPLOYMENT, AND CERTAIN FAMILY OR INTIMATE RELATIONSHIPS CAN AFFECT THAT COMMITMENT. THEREFORE, ALL COVERED EMPLOYEES ARE RESPONSIBLE FOR NOTIFYING THE OFFICE OF ETHICS AND COMPLIANCE WHETHER THEY, OR THEIR CLOSE RELATIONS, HAVE A CONFLICT OF INTEREST OR COMMITMENT COVERED BY THIS POLICY. BECAUSE NO POLICY CAN ANTICIPATE THE FULL RANGE OF OUTSIDE RELATIONSHIPS AND ACTIVITIES THAT MAY GIVE RISE TO CONFLICTS OF INTEREST OR COMMITMENT, COVERED EMPLOYEES MUST DISCLOSE ANY OUTSIDE RELATIONSHIP OR ACTIVITY THAT MAY GIVE THE APPEARANCE OF A CONFLICT AS SOON AS FEASIBLE AFTER DISCOVERY OF THE CONFLICT. THE UNIVERSITY MUST DETERMINE WHETHER A CONFLICT OF INTEREST AND/OR COMMITMENT IS MANAGEABLE BEFORE A COVERED EMPLOYEE IS ALLOWED TO UNDERTAKE THE ACTIVITY GIVING RISE TO THE CONFLICT. THE COVERED EMPLOYEE MUST COMPLY WITH ALL MEASURES PUT IN PLACE TO MANAGE, REDUCE, OR ELIMINATE CONFLICTS OF INTEREST. THIS INCLUDES ANY REQUIREMENT THAT THE COVERED EMPLOYEE PROVIDE A FOLLOW-UP DISCLOSURE AT A REASONABLE TIME INTERVAL TO PROVIDE AN UPDATE ON THE STATUS OF THE CONFLICT OF INTEREST OR COMMITMENT, AND HIS OR HER COMPLIANCE WITH THE MEASURES PUT IN PLACE TO MANAGE THE CONFLICT. ALL DISCLOSURES AS WELL AS DECISIONS ON HOW TO MANAGE THE CONFLICT SHOULD BE DOCUMENTED AND MAINTAINED BY THE PERSON OR COMMITTEE TO WHOM DISCLOSURE IS MADE, AS PROVIDED FOR IN THE POLICY. THE POLICY DOES NOT PRECLUDE THE SENIOR VICE PRESIDENT, PROVOST, OR DEAN, AS APPROPRIATE, FROM REQUIRING A COVERED EMPLOYEE TO PROVIDE ADDITIONAL CONFLICT OF INTEREST OR COMMITMENT INFORMATION OR TO DO SO ON A MORE FREQUENT BASIS (E.G., BI-ANNUALLY). IF A COVERED EMPLOYEE HAS ANY QUESTIONS ABOUT WHETHER AN OUTSIDE ACTIVITY MUST BE DISCLOSED, THE COVERED EMPLOYEE SHOULD CONSULT WITH HIS OR HER SUPERVISOR OR CONTACT THE OFFICE OF ETHICS AND COMPLIANCE FOR GUIDANCE. SUPERVISORS WHO BECOME AWARE THAT COVERED EMPLOYEES UNDER THEIR SUPERVISION HAVE CONFLICTS OF INTEREST OR COMMITMENT COVERED BY THIS POLICY ARE OBLIGATED TO ENSURE THAT THE CONFLICT IS APPROPRIATELY DISCLOSED. IN ADDITION TO THE PROCEDURES SET FORTH IN THE UNIVERSITY'S CONFLICT OF INTEREST AND COMMITMENT POLICY, USC'S PROCUREMENT SERVICES DEPARTMENT MAY IDENTIFY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST OR COMMITMENT IN THE COURSE OF PERFORMING ITS DUTIES. IN THE EVENT THAT PROCUREMENT SERVICES IDENTIFIES AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST OR COMMITMENT, IT REQUIRES THE COVERED EMPLOYEE TO MAKE A DISCLOSURE UNDER CONFLICT OF INTEREST AND COMMITMENT POLICY AND VERIFIES THAT ALL ACTUAL CONFLICTS ARE MANAGED BEFORE PROCEEDING. DEPENDING UPON THE CONFLICT, PROCUREMENT SERVICES MAY ALSO REFER THE ISSUE TO THE SENIOR VICE PRESIDENT FOR ADMINISTRATION OR HIS OR HER DESIGNEE, FOR RESOLUTION. PROCUREMENT SERVICES MAY SUSPEND ANY FURTHER ACTION ON THE REQUEST THAT INITIATED THE DISCLOSURE UNTIL SUCH TIME AS THE CONFLICT IS MANAGED. FAILURE TO DISCLOSE AND MANAGE ACTUAL OR POTENTIAL CONFLICTS OF INTEREST UNDER THIS POLICY, INCLUDING THE EXPECTATIONS DETAILED ABOVE ABOUT WHAT AN INDIVIDUAL SHOULD OR SHOULD NOT DO, MAY BE CAUSE FOR DISCIPLINARY ACTION, WHICH MAY RESULT IN DISCIPLINE, UP THROUGH AND INCLUDING TERMINATION. FOR FACULTY, SUCH ACTION SHALL OBSERVE ALL PROVISIONS OF THE POLICIES PUBLISHED IN THE FACULTY HANDBOOK. ANY DISCIPLINARY ACTION AGAINST A FACULTY MEMBER OR NON-FACULTY EMPLOYEE UNDER THIS POLICY MUST TAKE INTO ACCOUNT THE SCALE OF THE OFFENSE, THE INDIVIDUAL'S INTENT, AND THE DEGREE OF WRONGDOING. THE UNIVERSITY MAINTAINS A CONFLICT OF INTEREST POLICY FOR MEMBERS OF THE BOARD OF TRUSTEES. IN GENERAL, THE POLICY REQUIRES THAT A TRUSTEE MUST AVOID USING HIS OR HER POSITION FOR PERSONAL GAIN OR ADVANTAGE, OR TO OBTAIN A FAVORED STATUS FOR ANY SPECIAL GROUP, BUSINESS, OR FAMILY ENTITY WITH WHICH THE TRUSTEE IS AFFILIATED. THE POLICY APPLIES TO ALL VOTING MEMBERS OF THE BOARD OF TRUSTEES. A TRUSTEE WILL CONTINUE TO BE SUBJECT TO THE POLICY FOR FIVE YEARS AFTER LEAVING THE BOARD. IF A TRUSTEE BECOMES AWARE OF A FINANCIAL INTEREST THAT MAY BE MATERIAL, HE OR SHE IS REQUIRED TO IMMEDIATELY DISCLOSE THAT FINANCIAL INTEREST TO THE CHAIR OF THE BOARD. SUCH DISCLOSURE IS IN ADDITION TO THE REQUIRED ANNUAL DISCLOSURES. AFTER CONDUCTING A REASONABLE INVESTIGATION UNDER THE CIRCUMSTANCES, WHICH SHOULD INCLUDE AN ANALYSIS OF COMPARABLE ARRANGEMENTS OR TRANSACTIONS OR THE RECEIPT OF AN OPINION FROM AN EXPERT IN THE RELEVANT FIELD, THE BOARD SHOULD DETERMINE IN GOOD FAITH WHETHER USC COULD OBTAIN A MORE ADVANTAGEOUS FINANCIAL ARRANGEMENT OR TRANSACTION WITH REASONABLE EFFORTS FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IN ADDITION, THE BOARD SHOULD DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED MEMBERS, WITH KNOWLEDGE OF THE MATERIAL FACTS CONCERNING THE FINANCIAL ARRANGEMENT OR TRANSACTION AND THE TRUSTEE'S FINANCIAL INTEREST IN THE ARRANGEMENT OR TRANSACTION, WHETHER THE ARRANGEMENT OR TRANSACTION IS IN USC'S BEST INTEREST, FOR ITS OWN BENEFIT AND IS FAIR AND REASONABLE TO USC. THE BOARD SHOULD MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE ARRANGEMENT OR TRANSACTION IN CONFORMITY WITH SUCH DETERMINATION. SHOULD THE BOARD APPROVE THE FINANCIAL ARRANGEMENT OR TRANSACTION IN QUESTION, THE TRUSTEE WHO HAS A CONFLICT OF INTEREST WILL BE REQUIRED TO ACT IN GOOD FAITH AND WITH FAIRNESS, AND TO REFRAIN FROM EXERTING UNDUE PRESSURE OR INFLUENCE. IN THE BOARD'S DISCRETION, IT MAY ALSO REQUIRE SUCH TRUSTEE TO BE SUBJECT TO THE OVERSIGHT OF A DISINTERESTED TRUSTEE. THIS POLICY HAS BEEN APPROVED BY THE BOARD. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. THE ORGANIZATION IS INCLUDED IN CONSOLIDATED FINANCIAL STATEMENTS WITH THE UNIVERSITY OF SOUTHERN CALIFORNIA WHICH IS MADE AVAILABLE TO THE PUBLIC ON THE UNIVERSITY'S WEBSITE. FORM 990, PART VII, COLUMN (B) THE INDIVIDUALS REPORTED AS RECEIVING COMPENSATION FROM A RELATED ORGANIZATION IN COLUMNS (E) AND (F) IN FORM 990, PART VII, ARE EMPLOYEES OF THE UNIVERSITY OF SOUTHERN CALIFORNIA, A TAX-EXEMPT RELATED ORGANIZATION. EACH OF THESE INDIVIDUALS HAS DEVOTED AN AVERAGE OF 50 HOURS PER WEEK TO THEIR POSITIONS AT THE UNIVERSITY OF SOUTHERN CALIFORNIA. UNIVERSITY OF SOUTHERN CALIFORNIA UNIVERSITY GARDENS - UGB203 LOS ANGELES CA 90089 951642394 EDUCATION CA 501(C)(3) 2 NA false ICT PRODUCTIONS INC C/O USC UGB 203 LOS ANGELES CA 90089 954843260 EDUC. MEDIA CA 501(C)(3) 12A USC true DAVID X MARKS FOUNDATION C/O USC UGB 203 LOS ANGELES CA 90089 956034304 USC SUPPORT CA 501(C)(3) 12A USC true SURVIVORS OF SHOAH VISUAL HISTORY FDN C/O USC 650 W 35TH ST LOS ANGELES CA 90089 954474965 EDUC. MEDIA CA 501(C)(3) 7 USC true USC Verdugo Hills Hospital Foundation 1812 VERDUGO BLVD GLENDALE CA 91208 953247823 USC SUPPORT CA 501(C)(3) 12A VHH true USC CARE MEDICAL GROUP INC 1510 SAN PABLO ST 649 LOS ANGELES CA 90033 954540991 USC SUPPORT CA 501(C)(3) 12A USC HEALTH true GENERAL LIABILITY DEFENSE IC 100 BANK STREET SUITE 630 BURLINGTON VT 05401 851472543 USC SUPPORT VT 501(C)(3) 12A USC true USC HEALTH SYSTEM 1510 SAN PABLO STREET LOS ANGELES CA 90089 850666499 USC SUPPORT CA 501(C)(3) 12A USC true KECK MEDICAL CENTER OF USC 1510 SAN PABLO STREET LOS ANGELES CA 90033 851644866 HOSPITAL CA 501(C)(3) 3 USC HEALTH true USC VERDUGO HILLS HOSPITAL 1812 VERDUGO BOULEVARD GLENDALE CA 91208 851634852 HOSPITAL CA 501(C)(3) 3 USC Health true USC ARCADIA HOSPITAL 300 WEST HUNTINGTON DRIVE ARCADIA CA 91007 951643336 HOSPITAL CA 501(C)(3) 3 USC HEALTH true USC ARCADIA HOSPITAL FOUNDATION 300 WEST HUNTINGTON DRIVE ARCADIA CA 91007 953407027 FUNDRAISING CA 501(C)(3) 7 USCAH true NAT'L HLTHCRE RESEARCH & EDUC FINANCE CO 1445 ROSS AVENUE STE 3800 DALLAS TX 75202 311707979 USC SUPPORT TX 501(C)(3) 12C NA false THE ASC TRUST AT USC C/O R FOX 1500 MARKET STREET PHILADELPHIA PA 19103 776216147 USC SUPPORT PA 501(C)(3) 12D NA false PACIFIC-12 CONFERENCE 1350 TREAT BOULEVARD WALNUT CREEK WALNUT CREEK CA 94597 941459048 USC SUPPORT CA 501(C)(3) 12A NA false ALDERSGATE MEDICAL SERVICES 300 WEST HUNTINGTON DRIVE ARCADIA CA 91007 953702057 SUPPORT ORG CA 501(C)(3) 12A USCAH true WOMEN'S AUXILIARY OF METHODIST HOSPITAL 300 WEST HUNTINGTON DRIVE ARCADIA CA 91007 954123357 HEALTHCARE CA 501(C)(3) 12D NA false ALBEDO INSURANCE COMPANY IC 100 BANK STREET SUITE 630 BURLINGTON VT 05401 851454978 USC SUPPORT VT 501(C)(3) 12A USC true THE BIG TEN CONFERENCE INC 5440 PARK PLACE ROSEMONT IL 60018 363640583 USC SUPPORT DE 501(C)(3) 12B NA false HM FUND II LP 150 EAST 58TH STREET 33RD FL NEW YORK NY 10155 871030738 INVESTMENTS NY N/A STRIPES V MEADOWS CO-INVEST LP 40 10TH AVE 5TH FLOOR NEW YORK NY 10014 862543648 INVESTMENTS NY N/A CHATEAU LATOUR SPVI LLC 1501 COLORADO AVENUE STE B SANTA MONICA CA 90404 870998362 INVESTMENTS CA N/A RF-PUMA CO-INVEST LP 1316 ADAMS STREET SUITE 400 NASHVILLE TN 37208 923342416 INVESTMENTS TN N/A BRICK CASTLE INVESTMENT LLC 421 S BEVERLY DRIVE FL 8 BEVERLY HILLS CA 90212 823540717 INVESTMENTS CA N/A RF-HARMONY CARES CO-INVEST II LP 1316 ADAMS STREET STE 400 NASHVILLE TN 37208 993821673 INVESTMENTS TN N/A SUNRIVER LONG FUND LP 2 SOUND VIEW DRIVE GREENWICH CT 06830 874087043 INVESTMENTS CT N/A THE AFRICA PARTNERS FUND SPC SP1 94 SOLARIS AVENUE PO BOX 1348 CAMANA BAY GRAND CAYMAN CJ KY1-1108 981789937 INVESTMENTS CJ N/A USCCHLA CELL THERAPY COLLABORATIVE LLC 1441 EAST LAKE AVENUE LOS ANGELES CA 90033 393605696 SCIENTIFIC R&D CA N/A MAY ROBERTS DEWRIGHT TRUST UNIVERSITY GARDENS - UGB203 LOS ANGELES CA 900898003 956284845 USC SUPPORT CA NA T true INTEGRATED DIGITAL ASSET CORPORATION UNIVERSITY GARDENS - UGB203 LOS ANGELES CA 900898003 954680904 3RD PARTY CON CA N/A C true CHARITABLE REMAINDER TRUSTS (187) FUNDRAISING CA N/A true POOLED INCOME FUND (1) FUNDRAISING CA N/A true CHARITABLE REMAINDER TRUST (1) INVESTMENT CA N/A true false false false false false false false false false false false false false true true true true true true GENERAL LIABILITY DEFENSE IC Q 52106 FMV PART IV, LINE 3, COLUMN (C) THE LEGAL DOMICILES OF THE CHARITABLE REMAINDER TRUSTS INCLUDE: CA, CO, IL, IN, MA, PA, AND WA.