2026-04-14T14:35:44+00:00 2025-05-31 920460586 PwC US Tax LLP 101 Seaport Boulevard Boston MA 022102150 990 2024-06-01 941156628 University of San Francisco UNIV 4154225540 2130 Fulton Street San Francisco CA 941171080 Stacy E Daher Interim VP and CFO 4154225540 2026-04-14 true Erica McReynolds P00977806 6175305000 2026-04-14 2024 2025-03-06 01:10:19Z Salvador D Aceves 2130 Fulton Street San Francisco CA 941171080 687234373 false X WWW.USFCA.EDU X 1930 CA Since 1855, the University of San Francisco has dedicated itself to offering a daring and dynamic liberal arts education in the Jesuit, Catholic tradition. We are committed to educating hearts and minds to cultivate the full, integral development of each person and all persons; pursuing learning as a lifelong humanizing and liberating social activity; and advancing excellence as the standard for teaching, scholarship, creative expression, and service. 39 39 4952 148 4649813 0 37456332 39827191 497166036 486851010 18217932 28226377 175673 162298 553015973 555066876 157901425 156019377 0 272834452 275536259 113289 189395 12511121 157520634 147022613 588369800 578767644 -35353827 -23700768 1410513707 1399476202 396775759 392294392 1013737948 1007181810 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 257273480 156019377 4966589 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. 183243212 438069593 EDUCATION: THE UNIVERSITY (through its approximately 1,374 faculty and staff members) PROVIDES ACADEMIC PROGRAMS, ASSOCIATED RESEARCH, AND SERVICES DEDICATED TO SCHOLARSHIP AND THE JESUIT CATHOLIC TRADITION TO APPROXIMATELY 8,791 STUDENTS. 38097622 43814306 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. 4804165 522 Other Program Services include SPONSORED RESEARCH and EXPENDITURES FOR RESEARCH AND TRAINING. 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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 Pena 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 McCusker 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 Calderon 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 Fitzgibbons 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 VP Academic Affairs and Provost 40.0 0.0 X 502131 0 47804 Dr Gary VP, Student Life 40.0 0.0 X 202880 0 38835 Dr Groves VP, Strategic Enrollment Management (Position Commenced 4/15/2025) 40.0 0.0 X 0 0 0 Mr Bawa VP Info Tech, Chief Information Officer 40.0 0.0 X 382183 0 81186 Mr Cross VP Business and Finance 40.0 0.0 X 1323082 0 58000 Ms Burke Interim VP, Development 40.0 0.0 X 250345 0 37345 Ms Davis Acting Senior VP and General Counsel 40.0 0.0 X 1416893 0 82567 Ms McClenahan VP Development 40.0 0.0 X 224802 0 50391 Ms Orio VP, Operations 40.0 0.0 X 284399 0 87149 Ms Ryder VP Marketing Communications 40.0 0.0 X 288166 0 47011 Dr Fry-Bowers Dean, School of Nursing and Health Professions 40.0 0.0 X 283251 0 50411 Dr Paris Interim Dean, College of Arts and Sciences 40.0 0.0 X 290961 0 40656 Mr London Associate VP Facilities Management 40.0 0.0 X 340674 0 56511 Dr Chincarini Professor 40.0 0.0 X 337416 0 32205 Dr Erhemjamts Dean, School of Management 40.0 0.0 X 365114 0 64698 Dr Leo Professor 40.0 0.0 X 316978 0 50450 Mr Gerlufsen Head Men's Basketball Coach 40.0 0.0 X 977505 0 54882 Mr Williams Athletic Director 40.0 0.0 X 437535 0 70933 Dr Camperi Professor and Former Dean, Arts and Sciences 40.0 0.0 X 180099 0 37010 Dr Oparah Professor and Former VP Academic Affairs and Provost 40.0 0.0 X 439613 0 59749 8844027 0 1047793 779 true true false Crown Building Maintenance 868 Folsom Street San Francisco CA 941071123 Building Maintenance 8295906 Cahill Contractors LLC 425 California St Ste 2200 San Francisco CA 941042102 Construction 2698755 HR Options Inc 1401 Willow Pass Rd Ste 820 Concord CA 945207934 Professional Employer Organization 2592362 Skyline Commercial Interiors Inc 505 Sansome Street 7th Floor San Francisco CA 941113108 Construction 2192469 Ellucian Company LP 2003 Edmund Halley Dr Ste 500 Reston VA 201911108 IT Consulting 1392751 95 273656 8867139 30686396 1040310 39827191 Tuition and Fees 611600 430265915 430265915 0 0 Housing and Auxiliary 611600 54458130 52167714 2290416 0 Fitness Center Dues 713940 2126965 0 1984891 142074 0 0 0 0 486851010 7256806 0 374506 6882300 4962 0 0 4962 546658 327615 219043 0 219043 219043 152283738 130717 131168841 276043 21114897 -145326 20969571 0 0 20969571 333291 273656 394998 -61707 -61707 0 0 0 0 0 555066876 482433629 4649813 28156243 156019377 156019377 0 0 9175349 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1399476202 50857089 52726347 24337751 26568428 240118070 235941603 0 0 66718639 63385500 14744210 13672514 396775759 392294392 X 520379123 493497172 493358825 513684638 1013737948 1007181810 1410513707 1399476202 -23700768 17144630 0 X false true true true true X 59379649 62002902 56311670 37456332 39827191 254977744 0 0 59379649 62002902 56311670 37456332 39827191 254977744 33619339 221358405 5356227 5692420 6817297 8260649 7433920 33560513 0 0 0 0 0 0 0 288538257 2378790246 0.76717 0.77618 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 65000 65000 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 563633000 5185000 43854010 13420327 9198673 2204010 587849000 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 0.23 0.42 0.35 false false 30172000 94849670 125021670 813650289 293635534 520014755 34131310 20720186 13411124 90241275 47281300 42959975 701407524 Closely-held equity interests Financial derivatives Equity Funds - Alternative 110945170 F Hedge & Other Funds 83045183 F Private Capital 148730340 F Real Asset Funds 16845528 F 359566221 Federal Income Taxes Federal Student Loans Refundable 3423710 Interest Rate Swap Agreements 2514232 Liability Under Split Interest Agreement 2653690 Lease Liability 5080882 13672514 416915000 17144630 258 17144888 399770112 155296764 155296764 555066876 423471000 120 120 423470880 155296764 155296764 578767644 Schedule D, Part III, Line 1a Collections of art - financial statement footnote The University's collections are made up of rare books, artwork, 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, are not recognized as assets in the accompanying consolidated statements of financial position. Proceeds from deaccessioned collection items are used to acquire new items for the collection or for the direct care of the collection, ensuring the collection is protected, kept unencumbered, cared for, and preserved. 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 XI, Line 2(d) Other revenues in audited financial statements not in form 990 Other Adjustments - 258 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 - -394998 Rental Expenses - -327615 Schedule D, Part XII, Line 2(d) Other expenses in audited financial statements not in form 990 Other Adjustments - 120 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 - -394998 Rental Expenses - -327615 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 0 0 Investments 107832069 Europe (Including Iceland and Greenland) 0 0 Investments 4812885 Europe (Including Iceland and Greenland) 0 0 Program Services Study Abroad 265544 East Asia and the Pacific 0 0 Program Services Study Abroad 8698 0 0 0 0 0 0 112919196 0 112919196 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; EAST ASIA AND THE PACIFIC-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual Schedule F, Part V ACCOUNTING METHOD THE ACCOUNTING METHOD USED IS THE ACCRUAL METHOD OF ACCOUNTING. X X X X X X X true GiveCampus Inc 99 M St Ste 233 Washington DC 200033799 Crowdfunding Platform false 1337068 73145 1263923 Marts and Lundy Inc 160 Chubb Ave Ste 303 Lyndhurst NJ 070713680 Fundraising Consultant false 27005007 40419 26964588 Wilson-Bennett Technology Inc PO Box 717 Cabot AR 720230717 Phonathon false 29480 75831 -46351 28371555 189395 28182160 CA McCarthy Ctr Gala 340875 245472 95403 324 1188 69090 75014 4400 38898 Swanson Golf Tournament 207267 360 206907 4000 26006 57324 40908 0 2069 2 58805 27824 30981 0 0 20552 37363 0 17862 606947 273656 333291 4324 27194 146966 153285 4400 58829 394998 -61707 true FSEOG Program 320 1032000 Federal Work-Study Program 420 1587000 Pell Grants 1804 10666000 TEACH Grants 18 57000 USF Financial Aid 6690 142007377 Health Professions Students Aid 27 670000 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 true false false false false false true false Dr Oparah Professor and Former VP Academic Affairs and Provost 437570 0 0 0 2043 0 38028 0 21721 0 499362 0 0 0 Mr Bawa VP Info Tech, Chief Information Officer 364489 0 0 0 17694 0 38028 0 43158 0 463369 0 0 0 Ms Burke Interim VP, Development 232651 0 0 0 17694 0 24568 0 12777 0 287690 0 0 0 Mr Cross VP Business and Finance 512020 0 0 0 811062 0 38028 0 19972 0 1381082 0 0 0 Ms Davis Acting Senior VP and General Counsel 537280 0 0 0 879613 0 38028 0 44539 0 1499460 0 0 0 Dr Fung VP Academic Affairs and Provost 477222 0 0 0 24909 0 38028 0 9776 0 549935 0 0 0 Dr Gary VP, Student Life 202613 0 0 0 267 0 20440 0 18395 0 241715 0 0 0 Ms McClenahan VP Development 190187 0 0 0 34615 0 20460 0 29931 0 275193 0 0 0 Ms Orio VP, Operations 277988 0 0 0 6411 0 29999 0 57150 0 371548 0 0 0 Ms Ryder VP Marketing Communications 263830 0 0 0 24336 0 28887 0 18124 0 335177 0 0 0 Dr Camperi Professor and Former Dean, Arts and Sciences 179065 0 0 0 1034 0 18313 0 18697 0 217109 0 0 0 Dr Fry-Bowers Dean, School of Nursing and Health Professions 282039 0 0 0 1212 0 30812 0 19599 0 333662 0 0 0 Mr London Associate VP Facilities Management 331677 0 0 0 8997 0 37167 0 19344 0 397185 0 0 0 Dr Paris Interim Dean, College of Arts and Sciences 290155 0 0 0 806 0 21393 0 19263 0 331617 0 0 0 Dr Chincarini Professor 336459 0 0 0 957 0 24913 0 7292 0 369621 0 0 0 Dr Erhemjamts Dean, School of Management 364218 0 0 0 896 0 38028 0 26670 0 429812 0 0 0 Mr Gerlufsen Head Men's Basketball Coach 836510 0 55000 0 85995 0 38028 0 16854 0 1032387 0 0 0 Dr Leo Professor 315490 0 0 0 1488 0 30521 0 19929 0 367428 0 0 0 Mr Williams Athletic Director 374209 0 52517 0 10809 0 38028 0 32905 0 508468 0 0 0 Schedule J, Part I, Line 1a First-class or charter travel Some University Athletic teams utilized charter air travel during the 2024-25 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, and the Head Men's Basketball Coach 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 Operations received University-PROVIDED HOUSING, THE FAIR MARKET VALUE OF WHICH IS INCLUDED ON SCHEDULE J, PART II, COLUMN D. 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 4b Supplemental nonqualified retirement plan AMOUNTS under Part II, Line 1 and Line 2, Column B(iii), Other Reportable Compensation, INCLUDE WAGES PAID PLUS ADDITIONAL COMPENSATION FOR MR. CROSS AND MS. DAVIS WHO IN 2024 WERE ELIGIBLE UNDER COMPENSATION ARRANGEMENTS RELATED TO CONTINUING SERVICES. 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. 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 false false 0.0 0.0 0 false false 0 false true B false false false false false false 0.0 0.0 0 false false 0 false true C false false false false false false 0.0 0.0 0 false false 0 false true D false false false false false false 0.0 0.0 0 false false 0 false true A false false false true true true Bank of America 18.5 false false false 0 false false true B false false false true false false 0 false false false 0 false false true C false false false true false false 0 false false false 0 false false true D false false false true false false 0 false false false 0 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 154659 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 EXECUTIVE 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 INDIVIDUAL LISTED IN SCHEDULE L, PART IV IS A FAMILY MEMBER OF A DISQUALIFIED PERSON, THE COMPENSATION COMMITTEE IS ALSO ACCOUNTABLE FOR SETTING THE REASONABLE COMPENSATION PACKAGE FOR THIS INDIVIDUAL. 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 THIS INDIVIDUAL. 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 THIS INDIVIDUAL. APPROPRIATE COMPARABILITY DATA IS OBTAINED FROM a multitude of sources, including INDEPENDENT EXPERTS, from time to time, which includes 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. 1 392142 Market value 23 473168 Market value 1 175000 Opinions of experts 0 false true false Schedule M, Part I Explanations of reporting method for number of contributions Intellectual property - Contribution Securities - Publicly traded - Contributions Real estate - Other - Undeveloped Land Contribution Form 990, Part III, Line 4a-4c Description of program services (Expenses $ 4,804,165 including grants of $)(Revenue $ 522) 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. The University is not required to file an FBAR with respect to this account because the amounts maintained in it were below $10,000 at all times during the taxable year. 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 PRESIDENT) 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 AND CFO 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 PRESIDENT AND 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 University President AND THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. 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 University President AND THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. 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 a multitude of sources, including INDEPENDENT EXPERTS, from time to time, which INCLUDes 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). Note however, as of August 1, 2025, the University hired its first lay person (Dr. Salvador D. Aceves) as President in the University's 170 year history. 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 a multitude of sources, including INDEPENDENT EXPERTS, from time to time, which INCLUDes 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 VII, Section A Compensation of Dr. Groves Dr. Groves, the VP for Strategic Enrollment Management, commenced his position on April 15, 2025. As such, he is reportable as a current officer in fiscal year 2025 and is listed on Form 990, Part VII, Section A. However, because the compensation information reported on Part VII and Schedule J relates to the 2024 calendar year, Dr. Groves does not have any reportable compensation. 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. 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 this bond were used for the construction of the Loan Mountain East residence hall. Simultaneously with the 2018A Bonds, the CEFA Series 2018B taxable bonds were issued totaling $35,880,000. The proceeds from this bond were used to advance refund the CEFA Series 2011 taxable fixed rate bonds, which carried a higher coupon rate. 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 238 4967 UNIVERSITY OF SAN FRANCISCO Star Route Farms LLC 95 Olema Bolinas Rd Bolinas CA 94924 821997210 Farming CA 2290416 9852681 University of San Francisco Charitable Remainder Trusts (4) Charitable Trust CA 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.