Form990
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Department of the Treasury
Internal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations)
MediumBullet Do not enter Social Security numbers on this form as it may be made public. By law, the IRS
generally cannot redact the information on the form.
MediumBullet Information about Form 990 and its instructions is at www.IRS.gov/form990.
OMB No. 1545-0047
2013
Open to Public Inspection
A For the 2013 calendar year, or tax year beginning 07-01-2013 , 2013, and ending 06-30-2014
BCheck if applicable:
CName of organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
 
Doing Business As
 
 
Number and street (or P.O. box if mail is not delivered to street address)
3451 WALNUT STREET
Suite ROOM 305
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
PHILADELPHIA, PA191046284
D Employer identification number

23-1352685
E Telephone number

G Gross receipts $ 14,446,125,092
F Name and address of principal officer:
STEPHEN GOLDING
3451 WALNUT STREET
PHILADLEPHIA,PA19104
I
Tax-exempt status: (   ) LeftBullet (insert no.) or
J
Website:MediumBullet
WWW.UPENN.EDU
H(a)
Is this a group return for
subordinates?
H(b)
Are all subordinates
included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet  
K Form of organization:
 
L Year of formation: 1740
M State of legal domicile: PA
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: THE PROVISION OF EDUCATION, RESEARCH, AND CHARITABLE PATIENT CARE SERVICES.
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a) ........ 3 56
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 51
5 Total number of individuals employed in calendar year 2013 (Part V, line 2a) ...... 5 56,003
6 Total number of volunteers (estimate if necessary) ............. 6 32,444
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a 17,663,715
b Net unrelated business taxable income from Form 990-T, line 34 ......... 7b  
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 1,383,430,000 1,311,611,000
9 Program service revenue (Part VIII, line 2g) ......... 3,798,355,449 3,984,621,205
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 527,544,000 678,919,000
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 79,991,551 25,687,795
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)................... 5,789,321,000 6,000,839,000
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 365,186,480 386,622,822
14 Benefits paid to or for members (Part IX, column (A), line 4)..... 0 0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 2,798,099,000 2,869,301,000
16a Professional fundraising fees (Part IX, column (A), line 11e)..... 642,697 667,000
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet86,437,002    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 1,841,890,823 1,934,852,178
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 5,005,819,000 5,191,443,000
19 Revenue less expenses. Subtract line 18 from line 12....... 783,502,000 809,396,000
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 14,905,771,000 16,398,248,000
21 Total liabilities (Part X, line 26)............. 4,398,695,000 4,381,263,000
22 Net assets or fund balances. Subtract line 21 from line 20..... 10,507,076,000 12,016,985,000
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
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Date
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Firm's name MediumBullet

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May the IRS discuss this return with the preparer shown above? (see instructions) ............
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y
Form 990 (2013)
Form 990 (2013)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line in this Part III ..............
1
Briefly describe the organization’s mission: THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA (THE "UNIVERSITY") SEES ITSELF AS HAVING A PUBLIC SERVICE MISSION. IN SUCH REGARD, THE UNIVERSITY AIMS TO PROVIDE A RICH AND DIVERSE EDUCATIONAL ENVIRONMENT FOR ITS STUDENTS; TO PIONEER RESEARCH THAT PUSHES THE BOUNDARIES OF CURRENT HUMAN KNOWLEDGE; AND TO PROVIDE THE MOST CURRENT AND HIGHEST QUALITY PATIENT CARE THROUGH THE UNIVERSITY HEALTH SYSTEM.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ......................
If "Yes," describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program services? ............................
If "Yes," describe these changes on Schedule O.
4
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 2,640,646,198 including grants of $ 386,479,046 ) (Revenue $ 1,616,920,205 )
THE UNIVERSITY OF PENNSYLVANIA ("PENN" OR THE "UNIVERSITY") IS THE OLDEST UNIVERSITY IN THE UNITED STATES. IT TRACES ITS ORIGINS BACK TO A CHARITY SCHOOL FOUNDED IN 1740 AND WAS CHARTERED AS A COLLEGE IN 1755, HOLDING ITS FIRST COMMENCEMENT FOR A GRADUATING CLASS OF SEVEN STUDENTS IN 1757. UPON THE ESTABLISHMENT OF ITS MEDICAL SCHOOL-THE FIRST IN AMERICA-IN 1765, PENN BECAME THE COUNTRY'S FIRST UNIVERSITY. FROM THESE EARLY AND MODEST BEGINNINGS, PENN HAS GROWN INTO ONE OF THE LEADING RESEARCH AND EDUCATIONAL INSTITUTIONS IN THE UNITED STATES AND IN THE WORLD. A NATIONAL LEADER IN ACADEMICALLY-BASED COMMUNITY SERVICE, THE UNIVERSITY AIMS TO PROVIDE A RICH AND DIVERSE EDUCATIONAL ENVIRONMENT FOR ITS STUDENTS; TO PIONEER RESEARCH THAT PUSHES THE BOUNDARIES OF CURRENT HUMAN KNOWLEDGE; AND TO PROVIDE THE MOST CURRENT AND HIGHEST QUALITY IN PATIENT CARE THROUGH THE UNIVERSITY HEALTH SYSTEM. IT IS HOME TO THE UNIVERSITY OF PENNSYLVANIA MUSEUM OF ARCHAEOLOGY AND ANTHROPOLOGY, THE INSTITUTE FOR CONTEMPORARY ART AND THE ANNENBERG CENTER FOR THE PERFORMING ARTS, ALL OF WHICH CONTRIBUTE VITALLY TO ENRICHING THE CULTURAL LIFE OF PHILADELPHIA. PENN IS ALSO A HIGHLY ACTIVE PARTICIPANT IN THE WEST PHILADELPHIA NEIGHBORHOOD THAT IS ITS HOME. I. EDUCATION PENN'S FIRM BELIEF THAT EXCELLENCE AND DIVERSITY GO HAND-IN-HAND IS EVIDENCED IN THEIR SELECTION OF STUDENTS FOR THE CLASS OF 2018. OF 35,866 STUDENTS WHO APPLIED, ONLY 3,718, OR 10.4 PERCENT, WERE OFFERED ADMISSION. FIFTY-TWO PERCENT OF THOSE WHO MATRICULATED ARE BLACK, ASIAN, HISPANIC, OR NATIVE AMERICAN. IN KEEPING WITH THE BELIEF THAT QUALITY AND DIVERSITY OF THE STUDENT BODY ADD TO THE RIGOR AND UNIQUENESS OF A PENN EDUCATION, THE UNIVERSITY HAS MADE INCREASING ACCESS ONE OF ITS HIGHEST PRIORITIES. TO ACHIEVE THIS END, PENN HAS COMMITTED ITSELF TO MEETING THE FULL FINANCIAL NEED OF UNDERGRADUATES WITH ALL-GRANT AID PACKAGES, EXPANDING THE PENN WORLD SCHOLARS PROGRAM, AND STRENGTHENING GRADUATE AND PROFESSIONAL FINANCIAL AID. http://www.sfs.upenn.edu/paying/paying-pro.htm IN FY 14, THE AVERAGE UNIVERSITY GRANT-AIDED FRESHMAN AID PACKAGE WAS $44,297, AN INCREASE OF 3.5% OVER THE PREVIOUS YEAR AND 31.8% OVER THE AVERAGE AID PACKAGE OF $33,608 IN FY 08, THE YEAR THE ALL-GRANT POLICY WAS ANNOUNCED. UNDERGRADUATE AND GRADUATE FINANCIAL AID GRANTS AND SCHOLARSHIPS TOTALED $294.6 MILLION IN FY 14, WHICH CONSTITUTED A $14.4 MILLION, OR 5.2%, INCREASE FROM THE PRIOR FISCAL YEAR. SPURRED BY SUCCESSFUL FUNDRAISING EFFORTS, THE UNIVERSITY WAS ALSO ABLE TO INCREASE FINANCIAL AID TO GRADUATE AND PROFESSIONAL STUDENTS: APPROXIMATELY 7,800 OF THESE MEMBERS OF THE PENN COMMUNITY FUNDED PART OR ALL OF THEIR EDUCATION FROM FINANCIAL AID, RECEIVING $174.5 MILLION IN GRANTS, $205.8 IN EDUCATIONAL LOANS, AND $2.3 MILLION IN WORK-STUDY PROGRAMS. http://www.finance.upenn.edu/vpfinance/annualrpt/index.shtml RANKED EIGHTH AMONG ALL NATIONAL UNIVERSITIES BY U.S. NEWS & WORLD REPORT, PENN IS CONSISTENTLY RECOGNIZED FOR HAVING SOME OF THE TOP ACADEMIC PROGRAMS IN THE COUNTRY. IN FY 14, PENNS WHARTON SCHOOL EARNED A #1 BUSINESS SCHOOL RANKING, WITH PERELMAN SCHOOL OF MEDICINE RANKED 4TH AND PENNS GRADUATE SCHOOL OF EDUCATION, 5TH. PENN LAW RANKED AMONG AMERICAS BEST (#7) AND MOST DIVERSE LAW SCHOOLS. II. RESEARCH ONE MEASURE OF EXCELLENCE FOR THE RESEARCH AND ACADEMIC STUDIES CONDUCTED AT PENN IS THE NUMEROUS PRESTIGIOUS AWARDS THAT HAVE BEEN CONFERRED ON PENN FACULTY. THE FACULTY, ACTIVE AND EMERITI, INCLUDES 84 MEMBERS OF THE ACADEMY OF ARTS AND SCIENCES, 81 MEMBERS OF THE INSTITUTE OF MEDICINE, 334 MEMBERS OF THE NATIONAL ACADEMY OF SCIENCES, 31 MEMBERS OF THE AMERICAN PHILOSOPHICAL SOCIETY, 175 GUGGENHEIM FELLOWS, AND 12 MEMBERS OF THE NATIONAL ACADEMY OF ENGINEERING. OVER THE PAST TWO DECADES, PENN HAS BEEN HOME TO 7 MACARTHUR AWARD RECIPIENTS, 5 NATIONAL MEDAL OF SCIENCE RECIPIENTS, 4 NOBEL PRIZE RECIPIENTS, AND 5 PULITZER PRIZE RECIPIENTS. WITH 100 RESEARCH CENTERS AND INSTITUTES, RESEARCH IS A SUBSTANTIAL AND ESTEEMED ENTERPRISE AT PENN. AS OF FY 14, THE RESEARCH COMMUNITY INCLUDES OVER 4,300 FACULTY, MORE THAN 1,100 POSTDOCTORAL FELLOWS, OVER 5,400 ACADEMIC SUPPORT STAFF AND GRADUATE STUDENT TRAINEES, AND A RESEARCH BUDGET OF $899 MILLION. RESEARCH GRANTS WON BY PENN FACULTY MAKE IT ONE OF THE HIGHEST RANKED RESEARCH UNIVERSITIES IN THE COUNTRY. III. PUBLIC SERVICE MISSION THE MISSION OF SERVING THE PUBLIC IS ONE OF PENN'S HIGHEST PRIORITIES AND IS EXEMPLIFIED BY NUMEROUS UNIVERSITY PROGRAMS. PENN'S NETTER CENTER FOR COMMUNITY PARTNERSHIPS IS THE UNIVERSITY'S PRIMARY VEHICLE FOR IMPLEMENTING THIS PROGRAMMING. A MODEL OF COMMUNITY SERVICE, THE NETTER CENTER HAS HELPED DEVELOP UNIVERSITY-ASSISTED COMMUNITY SCHOOLS WHERE PENN STUDENTS AND FACULTY PROVIDE INSTRUCTION, SUPPORT, AND PARTNERSHIP BY EDUCATING, EMPOWERING, AND SERVING ALL MEMBERS OF THE COMMUNITY IN WHICH THE SCHOOL IS LOCATED. WORKING WITH LOCAL SCHOOL COMMUNITIES IN THIS WAY ALSO HELPS PENN ADVANCE ITS TEACHING, RESEARCH, AND SERVICE MISSIONS AND THE CIVIC DEVELOPMENT OF ITS STUDENTS. IN FY 14, THE NETTER CENTER'S UNIVERSITY-ASSISTED COMMUNITY SCHOOL PROGRAMS SERVED APPROXIMATELY 3,000 K-12 YOUTH AND THEIR FAMILIES IN WEST PHILADELPHIA AND WAS CREDITED WITH VISIBLE IMPROVEMENTS IN ACADEMIC PERFORMANCE, ATTENDANCE, AND STUDENT AND PARENTAL INVOLVEMENT AT THE COMMUNITY SCHOOLS. RUN BY THE NETTER CENTER, THE DR. BERNETT L. JOHNSON, JR. SAYRE HEALTH CENTER (SHC) IS BASED AT SAYRE HIGH SCHOOL, A PUBLIC SCHOOL IN WEST PHILADELPHIA THAT ENROLLS PREDOMINATELY LOW-INCOME AFRICAN-AMERICAN STUDENTS. IT IS A FEDERALLY-QUALIFIED HEALTH CENTER OFFERING COMPREHENSIVE HEALTH-CARE SERVICES TO THE ENTIRE COMMUNITY. SHC PROVIDES CLINICAL SERVICES TO COMMUNITY RESIDENTS AND EDUCATIONAL OPPORTUNITIES FOR HIGH SCHOOL, UNDERGRADUATE, AND GRADUATE STUDENTS: PENN MEDICAL STUDENTS ROTATE AT SHC AND PENN PHYSICIANS AND RESIDENTS PROVIDE PATIENT CARE. OUR RESIDENTS AND MEDICAL STUDENTS TEACH SAYRE STUDENTS SCIENCE AND HEALTH TOPICS, WITH A GOAL OF RECRUITING MORE MINORITIES TO THE MEDICAL FIELD. STUDENTS FROM ACROSS THE UNIVERSITY VOLUNTEER THEIR SERVICES THERE, AS WELL, INCLUDING PENN'S SCHOOLS OF NURSING, DENTAL MEDICINE, SOCIAL POLICY AND PRACTICE, ARTS AND SCIENCES, AND EDUCATION. SAYRE OFFERS ADDITIONAL SCHOOL DAY ACADEMIC ENRICHMENT, AFTER-SCHOOL PROGRAMS, NUTRITION CLASSES AND A SCHOOL-BASED GARDEN, COLLEGE ACCESS AND CAREER READINESS PROGRAMMING, YOUTH INTERNSHIPS, AND PEER HEALTH EDUCATION. ANOTHER ONE OF THE NETTER CENTER'S PROGRAMS IS THE AGATSTON URBAN NUTRITION INITIATIVE (AUNI), WHICH WORKS TO IMPROVE COMMUNITY NUTRITION AND HEALTH- PARTICULARLY IN THE AREAS OF OBESITY, POOR NUTRITION, AND RELATED DISEASES- BY DEVELOPING AND IMPLEMENTING A COMPREHENSIVE SET OF ACTIVITIES IN TARGETED NEIGHBORHOODS. WHILE AUNI'S EMPHASIS IS ON WEST PHILADELPHIA, IT PROVIDES NUTRITION EDUCATION FOR MORE THAN 10,000 STUDENTS AT 27 PUBLIC SCHOOLS ACROSS PHILADELPHIA. IN TOTAL, AN ESTIMATED 13,000 UNIVERSITY STUDENTS, FACULTY AND STAFF PARTICIPATE IN MORE THAN 300 PENN VOLUNTEER AND COMMUNITY SERVICE PROGRAMS EACH YEAR. IN FY 14, THE NETTER CENTER ENGAGED APPROXIMATELY 1,800 PENN UNDERGRADUATE AND GRADUATE STUDENTS THROUGH 65 ACADEMICALLY-BASED COMMUNITY SERVICE COURSES (OFFERED ACROSS 9 PENN SCHOOLS AND 25 DEPARTMENTS), 400 STUDENTS THROUGH COMMUNITY SERVICE FEDERAL WORK-STUDY AND PAID ACADEMIC INTERNSHIPS, AND 200 STUDENT VOLUNTEERS. THROUGH ITS VOLUNTEERS IN PUBLIC SERVICE PROGRAM (PENN VIPS), IT ENGAGED AN ESTIMATED 3,500 FACULTY, STAFF, AND ALUMNI VOLUNTEERS IN A WIDE VARIETY OF COMMUNITY SERVICE INITIATIVES. ADDITIONAL COMMUNITY SERVICE INITIATIVES AT PENN ARE COORDINATED BY THE CIVIC HOUSE, PENN'S HUB FOR STUDENT-LED COMMUNITY SERVICE AND SOCIAL ADVOCACY WORK THAT HAS OVER 2,500 STUDENT VOLUNTEERS EACH YEAR, AND THE ROBERT A. FOX LEADERSHIP PROGRAM, WHICH HAS SPONSORED NEARLY 250 FUNDED RESEARCH AND SERVICE FELLOWSHIPS FOR PENN UNDERGRADUATES AND RECENT ALUMNI IN RECENT YEARS. FOR 16 YEARS, THE SCHOOL OF NURSING'S LIVING INDEPENDENTLY FOR ELDERS (LIFE) PROGRAM HAS PROVIDED NURSING, MEDICAL, AND REHABILITATIVE CARE THAT HAS ENABLED MORE THAN 1,100 LOCAL SENIORS TO LIVE INDEPENDENTLY. AT THE SCHOOL OF VETERINARY MEDICINE, STUDENTS ROUTINELY TAKE COMPANION DOGS TO VISIT GUESTS AT THE PHILADELPHIA RONALD MCDONALD HOUSE TO COMFORT SICK CHILDREN AND THEIR FAMILIES SEEKING MEDICAL TREATMENT AT WEST PHILADELPHIA AREA HOSPITALS. THROUGH ITS CULTURAL INSTITUTIONS, THE UNIVERSITY OF PENNSYLVANIA MUSEUM OF ARCHAEOLOGY AND ANTHROPOLOGY, THE INSTITUTE OF CONTEMPORARY ART, AND THE ANNENBERG CENTER FOR THE PERFORMING ARTS, PENN OFFERS CULTURAL ENRICHMENT AND EDUCATION TO THE ENTIRE REGION, WITH EXHIBITS, PROGRAMS AND EVENTS THAT SPAN THE ENTIRE RANGE OF HUMAN HISTORY AND EVENTS. PENN HAS CALLED WEST PHILADELPHIA HOME SINCE 1874, AND IS STRONGLY COMMITTED TO MAKING THIS PART OF THE CITY A MORE ATTRACTIVE PLACE TO LIVE AND WORK. TOWARDS THIS END, THE UNIVERSITY PURCHASES GOODS AND SERVICES FROM LOCA
4b (Code:   ) (Expenses $ 1,986,119,266 including grants of $ 0 ) (Revenue $ 2,369,314,000 )
IV. PATIENT CARE THE HOSPITAL OF THE UNIVERSITY OF PENNSYLVANIA ("HUP"), THE FLAGSHIP OF THE UNIVERSITY OF PENNSYLVANIA HEALTH SYSTEM'S FOUR HOSPITALS, WAS ESTABLISHED IN 1874 AS A TEACHING HOSPITAL TO COMPLEMENT THE MEDICAL EDUCATION RECEIVED BY STUDENTS AT THE UNIVERSITY OF PENNSYLVANIA'S MEDICAL SCHOOL, THE PERELMAN SCHOOL OF MEDICINE. IT HAS 18 CLINICAL DEPARTMENTS AND PROVIDES TRAINING IN MORE THAN 40 CLINICAL SPECIALTIES. MAJOR AREAS OF INVESTIGATION INCLUDE HEART DISEASE, CANCER, AND DISEASES OF AGING INCLUDING ALZHEIMER'S DISEASE, WOMEN'S HEALTH, DIABETES AND OBESITY. THE HEALTH SYSTEM, WITH 1,893 LICENSED HOSPITAL BEDS, IS A VALUED HEALTH-CARE RESOURCE, ESPECIALLY TO PEOPLE RESIDING IN THE GREATER PHILADELPHIA AREA. DURING THE COURSE OF A YEAR, IT ADMITS 84,000 PATIENTS AND ACCOUNTS FOR OVER 2.8 MILLION OUTPATIENT VISITS, MORE THAN 179,000 EMERGENCY ROOM VISITS AND MORE THAN 9,000 BIRTHS. HUP IS THE ONLY HOSPITAL IN THIS AREA THAT PERFORMS TRANSPLANTS OF ALL MAJOR ORGANS. PENN MEDICINE'S LEVEL 1 TRAUMA CENTER, WHICH OPERATES AROUND THE CLOCK TO CARE FOR PATIENTS WHO HAVE BEEN CRITICALLY INJURED IN CAR ACCIDENTS, FALLS, AND THROUGH BLUNT AND PENETRATING TRAUMAS, IS NOW LOCATED AT PENN PRESBYTERIAN MEDICAL CENTER. THE CENTER CARES FOR MORE THAN 2,100 PATIENTS ANNUALLY, SEVERAL HUNDRED OF WHOM ARE TRANSFERRED FROM OTHER HOSPITALS VIA THE FLEET OF PENNSTAR MEDICAL HELICOPTERS AND GROUND AMBULANCES. BOTH HUP AND PENN PRESBYTERIAN MEDICAL CENTER ALSO CARE FOR A LARGE NUMBER OF PATIENTS WHO ARE TRANSFERRED HERE WITH TIME-SENSITIVE CARDIAC AND SURGICAL EMERGENCIES. IN KEEPING WITH ITS CHARITABLE PURPOSE, THE UNIVERSITY OF PENNSYLVANIA HEALTH SYSTEM (UPHS) (WHICH INCLUDES THE HUP AND CLINICAL PRACTICES OF THE UNIVERSITY OF PENNSYLVANIA (CPUP) DIVISIONS OF THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA), AS WELL AS CERTAIN AFFILIATES, ACCEPTS PATIENTS IN SERIOUS NEED OF MEDICAL CARE REGARDLESS OF THEIR FINANCIAL STATUS. THIS DEFINITION INCLUDES THOSE PATIENTS SUFFERING FROM A MEDICAL CONDITION MANIFESTING ITSELF BY ACUTE SYMPTOMS OF SUFFICIENT SEVERITY (INCLUDING SEVERE PAIN) SUCH THAT THE ABSENCE OF IMMEDIATE MEDICAL ATTENTION COULD REASONABLY BE EXPECTED TO RESULT IN (1) PLACING THE HEALTH OF THE INDIVIDUAL (OR, WITH RESPECT TO A PREGNANT WOMAN, THE HEALTH OF THE WOMAN OR HER UNBORN CHILD) IN SERIOUS JEOPARDY, OR (2) SERIOUS IMPAIRMENT TO BODILY FUNCTIONS. UPHS ALSO PROVIDES CARE TO PATIENTS WHO DO NOT HAVE HEALTH INSURANCE OR MEET THE CRITERIA TO QUALIFY FOR ITS CHARITY CARE POLICY, AND CERTAIN AMOUNTS CHARGED FOR SUCH SERVICES ARE DEEMED TO BE UNCOLLECTIBLE. UPHS MAINTAINS RECORDS TO IDENTIFY AND MONITOR THE LEVEL OF CHARITY CARE THEY PROVIDE. THESE RECORDS INCLUDE THE AMOUNT OF PAYMENT FORGONE, BASED ON ESTABLISHED RATES, FOR SERVICES AND SUPPLIES FURNISHED UNDER ITS CHARITY CARE POLICY. UPHS ESTIMATED PROVIDING CARE TO CHARITY PATIENTS TOTALING $10,680,000 AND $8,530,000 DURING FISCAL YEAR 2014 AND FISCAL YEAR 2013, RESPECTIVELY, FROM PROVIDING SERVICES TO CHARITY PATIENTS. THE ESTIMATED COSTS OF PROVIDING CHARITY SERVICES ARE BASED ON DATA DERIVED FROM A COMBINATION OF THE UPHS' COST ACCOUNTING SYSTEM AND THE RATIO OF COSTS TO CHARGES. UPHS ALSO PROVIDES CARE TO PATIENTS WHO DO NOT HAVE HEALTH INSURANCE OR MEET THE CRITERIA TO QUALIFY FOR ITS CHARITY CARE POLICY. ADDITIONALLY, THE COSTS OF PROVIDING SERVICES TO ELIGIBLE WELFARE RECIPIENTS, WHO PARTICIPATE IN THE PENNSYLVANIA MEDICAL ASSISTANCE AND LOCAL MANAGED MEDICAID PROGRAMS EXCEEDED REIMBURSEMENT BY $120,414,000 AND $111,179,000 IN FISCAL YEARS 2014 AND 2013, RESPECTIVELY. IN ADDITION TO PROVIDING DIRECT PATIENT CHARITY CARE, IN FURTHERANCE OF ITS EXEMPT PURPOSE TO BENEFIT THE COMMUNITY, THE UNIVERSITY OF PENNSYLVANIA HEALTH SYSTEM RECENTLY COMPLETED A COMMUNITY HEALTH NEEDS ASSESSMENT TO IDENTIFY THE MOST PRESSING HEALTH NEEDS IN THE SERVICE AREA AND DETERMINE HOW BEST TO ADDRESS THOSE NEEDS. THE UNIVERSITY OF PENNSYLVANIA HEALTH SYSTEM OPERATES EMERGENCY ROOMS OPEN TO THE PUBLIC 24 HOURS A DAY, 7 DAYS A WEEK; MAINTAINS RESEARCH FACILITIES FOR THE STUDY OF DISEASE AND INJURIES; PROVIDES FACILITIES FOR TEACHING AND TRAINING VARIOUS STUDENTS AND MEDICAL PERSONNEL; FACILITATES THE ADVANCEMENT OF MEDICAL AND SURGICAL EDUCATION; AND PROVIDES VARIOUS COMMUNITY SERVICES SUCH AS PROVIDING BASIC MEDICAL CARE FOR THE HOMELESS, TREATING OF CHRONIC DISEASE FOR LOW-INCOME RESIDENTS, AND PROVIDING WOMEN'S HEALTH SERVICES TO UNINSURED AND LOW-INCOME WOMEN OF ALL AGES; SCREENINGS FOR THE DETECTION OF BREAST, COLORECTAL, AND SKIN CANCER, CANCER SUPPORT GROUPS, A TOLL FREE NUMBER FOR CANCER INFORMATION, FREE IMMUNIZATION SHOTS, TRAINING PROGRAMS FOR THE CITY FIRE AND POLICE DEPARTMENTS, HEALTH EDUCATION CLASSES AND SPEECHES. BELOW ARE SOME EXPANDED PROGRAM DESCRIPTIONS FOR JUST A SMALL NUMBER OF THE MANY COMMUNITY CARE INITIATIVES UNDERWAY AT PENN MEDICINE: -COMMUNITY MEDICINE ROTATION: PENN FAMILY MEDICINE RESIDENTS PARTICIPATE IN A COMMUNITY MEDICINE ROTATION IN FOUR-WEEK BLOCKS IN THEIR SECOND AND THIRD YEARS. COMPONENTS INCLUDE SERVICE AT UNITED COMMUNITY CLINICS, WHICH SERVES LOW-INCOME PATIENTS FROM OUR WEST PHILADELPHIA COMMUNITY; UNITY CLINIC, WHICH PROVIDES SERVICE TO A SOUTHEAST ASIAN IMMIGRANT POPULATION; PREVENTION POINT PHILADELPHIA STREETSIDE HEALTH PROJECT, WHICH PROVIDES CARE TO PATIENTS STRUGGLING WITH HOMELESSNESS AND SUBSTANCE ABUSE; TWO FEDERALLY QUALIFIED HEALTH CENTERS (HADDINGTON HEALTH SERVICES AND FAMILY PRACTICE AND COUNSELING NETWORK), WHICH PROVIDE CARE WITHIN THE PHILADELPHIA HEALTH CARE SAFETY NET; MAZZONI CENTER, WHICH TARGETS THE LESBIAN, GAY, BISEXUAL, AND TRANSGENDER COMMUNITIES; HEALTH PROMOTION SESSIONS IN LOCAL NURSING HOMES AND ADULT DAY-CARE FACILITIES; A HOME VISITATION PROGRAM; AND SESSIONS WITH THE PHILADELPHIA DEPARTMENT OF PUBLIC HEALTH'S FOOD SAFETY INSPECTION SERVICES. -PENNSYLVANIA HOSPITAL'S WOMEN & CHILDREN'S HEALTH SERVICES (WCHS) AND LATINA COMMUNITY HEALTH SERVICES (LCHS): WCHS IS A NON-PROFIT AMBULATORY HEALTHCARE FACILITY SPECIALIZING IN THE PROVISION OF OBSTETRICAL, GYNECOLOGIC AND FAMILY PLANNING SERVICES. SINCE ITS INCEPTION 30 YEARS AGO, WCHS HAS PROVIDED QUALITY MEDICAL CARE TO ALL PATIENTS, REGARDLESS OF THEIR ABILITY TO PAY. LATINA COMMUNITY HEALTH SERVICES WAS DEVELOPED IN 2008 AND SERVES HISPANIC, UNDOCUMENTED WOMEN THROUGH ONGOING AND HIGH-RISK OBSTETRIC AND GYNECOLOGIC CARE, PRENATAL DIAGNOSTIC TESTING (ULTRASOUND, BIOPHYSICAL PROFILES, NON-STRESS TESTS), LABORATORY TESTING, CONTRACEPTIVES, CERVICAL CANCER SCREENING, AND MEDICATIONS TO TREAT STDS. NEIGHBORHOOD-BASED BILINGUAL LAY HEALTH PROMOTERS TRAINED BY PENN NURSE COORDINATORS ALSO TEACH COMMUNITY MEMBERS ABOUT CERVICAL CANCER PREVENTION AND SCHEDULE PARTICIPANTS FOR PAP SCREENINGS. -PUENTES DE SALUD/BRIDGES OF HEALTH, A NONPROFIT ORGANIZATION VOLUNTARILY STAFFED BY PENN MEDICINE DOCTORS, NURSES, AND MEDICAL STUDENTS, PROVIDES LOW-COST PRIMARY CARE TO UNDOCUMENTED AND UNINSURED LATINO IMMIGRANTS. IT WAS ESTABLISHED IN 2002 BY A PENN EMERGENCY MEDICINE PHYSICIAN WHO OVERSEES THE PROGRAM ON A VOLUNTEER BASIS. PUENTES HAS GROWN TO INCLUDE SERVICES BY STUDENTS FROM PENN'S SCHOOLS OF SOCIAL POLICY & PRACTICE, LAW, AND DENTAL MEDICINE -- AS WELL AS STUDENTS FROM OTHER AREA UNIVERSITIES AND HOSPITALS. TRAINED PROMOTORAS DE SALUD/HEALTH PROMOTERS FROM THE COMMUNITY ESCORT PATIENTS TO THEIR VISITS AND ENSURE COMPLIANCE WITH THEIR HEALTH CARE MANAGEMENT PLANS. MORE RECENTLY, THE ORGANIZATION EXPANDED TO INCLUDE PUENTES HACIA EL FUTURO, AN AFTER-SCHOOL PROGRAM FOR ELEMENTARY SCHOOL STUDENTS, WHICH NOW INCLUDES MORE THAN 100 VOLUNTEER TUTORS FROM PENN AND AREA COLLEGES. -THE PENN ASIAN HEALTH INITIATIVES (PAHI) IS STAFFED BY PENN MEDICINE FACULTY, FAMILY MEDICINE RESIDENTS, AND MEDICAL STUDENTS FROM THE ASIAN AND PACIFIC AMERICAN MEDICAL STUDENT ASSOCIATION. PAHI IS BASED IN THE DEPARTMENT OF FAMILY MEDICINE AND COMMUNITY HEALTH. IT PROVIDES PRIMARY HEALTH CARE SERVICES, INCLUDING TESTING, TREATMENT, AND EDUCATION, TO LOW-INCOME ASIAN IMMIGRANTS, MOSTLY NON-ENGLISH SPEAKING INDONESIAN AND VIETNAMESE PATIENTS. THE PROGRAM'S ASIAN PHYSICIANS ALSO MENTOR PENN'S ASIAN MEDICAL STUDENTS, UNDERGRADUATES, AND PUBLIC-HEALTH GRADUATE STUDENTS. -IMPACT IS A PEER-SUPPORT PROGRAM THAT TRAINS AREA RESIDENTS TO BECOME COMMUNITY HEALTH WORKERS, WHO IN TURN HELP LOW-INCOME PATIENTS MAINTAIN THEIR HEALTH AND STAY OUT OF THE HOSPITAL. THE WORKERS HELP PATIENTS SCHEDULE DOCTORS' APPOINTMENTS AND TESTS, OBTAIN MEDICATIONS AND ADHERE TO TAKING THEM, AND FIND CHILD CARE, TRANSPORTATION, AND SHELTER. IMPACT'S PHILOSOPHY IS THAT COMMUNITY HEALTH WORKERS, THROUGH COMMON LANGUAGE, ETHNIC, AND GEOGRAPHIC BACKGROUNDS, CAN HELP KEEP PATIENTS HEALTHY BY REDUCING OPPORTUNITIES FOR BREAKDOWNS IN COMMUNICATION BETWEEN PATIENTS AND CARE PROVIDERS. THE PROGRAM HAS TWO COMPONENTS, ONE FOR DISCHARGED INPATIENTS AND ONE FOR OUTPATIENTS. -CUT HYPERTENSION IS A PROGRAM FOUNDED IN 2010 AND OPERATED BY PENN MEDICAL STUDE
4c (Code:   ) (Expenses $   including grants of $   ) (Revenue $   )
4d Other program services (Describe in Schedule O.)
(Expenses $   including grants of $   ) (Revenue $   )
4e Total program service expensesMediumBullet4,626,765,464
Form 990 (2013)
Form 990 (2013)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule AClick to see attachment........................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors (see instructions)? Click to see attachment...
2
Yes
 
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part IClick to see attachment..........
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part IIClick to see attachment........
4
Yes
 
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19? If "Yes," complete Schedule C,
Part IIIClick to see attachment............................
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part IClick to see attachment........................
6
Yes
 
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part IIClick to see attachment...
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes," complete Schedule D, Part III Click to see attachment....................
8
Yes
 
9
Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IVClick to see attachment..............
9
 
No
10
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments? If "Yes," complete Schedule D, Part VClick to see attachment......
10
Yes
 
11
If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X as applicable.
a
Did the organization report an amount for land, buildings, and equipment in Part X, line 10?
If "Yes," complete Schedule D, Part VI.Click to see attachment...................
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIClick to see attachment.......
11b
Yes
 
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIIClick to see attachment.......
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IXClick to see attachment............
11d
 
No
e
Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part XClick to see attachment
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part XClick to see attachment.........................
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year?
If "Yes," complete Schedule D, Parts XI and XII Click to see attachment.................
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule EClick to see attachment....
13
Yes
 
14a
Did the organization maintain an office, employees, or agents outside of the United States?.....
14a
Yes
 
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV......... Click to see attachment
14b
Yes
 
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IVClick to see attachment
15
Yes
 
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV... Click to see attachment
16
Yes
 
17
Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I (see instructions).... Click to see attachment
17
Yes
 
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............ Click to see attachment
18
Yes
 
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III................... Click to see attachment
19
 
No
20a
Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H.... Click to see attachment
20a
Yes
 
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return? Click to see list of attachments
20b
Yes
 
Form 990 (2013)
Form 990 (2013)
Page 4
Part IV
Checklist of Required Schedules (continued)
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II... Click to see attachment
21
 
No
22
Did the organization report more than $5,000 of grants or other assistance to individuals in the United States on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........ Click to see attachment
22
Yes
 
23
Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5 about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a................ Click to see list of attachments
24a
Yes
 
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
No
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds?......................
24c
 
No
d
Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...
24d
 
No
25a
Section 501(c)(3) and 501(c)(4) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I........ Click to see attachment
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I................... Click to see attachment
25b
 
No
26
Did the organization report any amount on Part X, line 5, 6, or 22 for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons? If so, complete Schedule L, Part II.................... Click to see attachment
26
Yes
 
27
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part III......... Click to see attachment
27
 
No
28
Was the organization a party to a business transaction with one of the following parties (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, or key employee? If "Yes," complete Schedule L, Part IV .......................... Click to see attachment
28a
 
No
b
A family member of a current or former officer, director, trustee, or key employee? If "Yes,"
complete Schedule L, Part IV..................... Click to see attachment
28b
 
No
c
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner? If "Yes," complete Schedule L, Part IV... Click to see attachment
28c
Yes
 
29
Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..Click to see attachment
29
Yes
 
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M............. Click to see attachment
30
Yes
 
31
Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N,
Part I...........................
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II......................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I........ Click to see attachment
33
Yes
 
34
Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1........................ Click to see attachment
34
Yes
 
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
Yes
 
b
If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2... Click to see attachment
35b
Yes
 
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2............. Click to see attachment
36
 
No
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VIClick to see attachment
37
 
No
38
Did the organization complete Schedule O and provide explanations in Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Form 990 (2013)
Form 990 (2013)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V ..............
Yes
No
1a
Enter the number reported in Box 3 of Form 1096 Enter -0- if not applicable ..
1a
6,434
b
Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable .
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................
2a
56,003
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file (see instructions)
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?...
3a
Yes
 
b
If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...
3b
Yes
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?..........................
4a
Yes
 
b
If "Yes," enter the name of the foreign country: MediumBulletBD , BC , CH , FR , HK , JA , SP , AE , UK
See instructions for filing requirements for Form TD F 90-22.1, Report of Foreign Bank and Financial Accounts.
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?...
6a
 
No
b
If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?........................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?....................
7a
Yes
 
b
If "Yes," did the organization notify the donor of the value of the goods or services provided?.....
7b
Yes
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?...........................
7c
Yes
 
d
If "Yes," indicate the number of Forms 8282 filed during the year ....
7d
3
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?............................
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?............................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?..........................
7h
 
 
8
Sponsoring organizations maintaining donor advised funds and section 509(a)(3) supporting organizations. Did the supporting organization, or a donor advised fund maintained by a sponsoring organization, have excess business holdings at any time during the year?............
8
 
No
9
Sponsoring organizations maintaining donor advised funds.
a
Did the organization make any taxable distributions under section 4966?..........
9a
 
No
b
Did the organization make a distribution to a donor, donor advisor, or related person?.......
9b
 
No
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If "Yes," enter the amount of tax-exempt interest received or accrued during the year. ....................
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state?
Note. See the instructions for additional information the organization must report on Schedule O.
13a
 
 
b
Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....
13b
 
c
Enter the amount of reserves on hand ............
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..
14b
 
No
Form 990 (2013)
Form 990 (2013)
Page 6
Part VI
Governance, Management, and Disclosure For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response or note to any line in this Part VI ..............
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year .....................
1a
56
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
b
Enter the number of voting members included in line 1a, above, who are independent ...................
1b
51
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
 
No
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? ...........................
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
 
No
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................
7a
 
No
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................
7b
 
No
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .........................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?
10b
 
 
11a
Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................
11a
Yes
 
b
Describe in Schedule O the process, if any, used by the organization to review this Form 990. .....
12a
Did the organization have a written conflict of interest policy? If "No," go to line 13.......
12a
Yes
 
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe in Schedule O how this was done.......................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line 15a or 15b, describe the process in Schedule O (see instructions).
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
Yes
 
b
If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
Yes
 
Section C. Disclosure
17
List the States with which a copy of this Form 990 is required to be filedMediumBullet
AL , AK , AR , CA , CO , CT , DC , FL , GA , HI , KS , KY , LA , MA , MI , MN , MS , NH , ND , OH , OK , OR , PA , RI , SC , UT , WA , WV , WI
18
Section 6104 requires an organization to make its Form 1023 (or 1024 if applicable), 990, and 990-T (501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, physical address, and telephone number of the person who possesses the books and records of the organization:
MediumBulletLESLIE KRUHLY SECRETARY211 COLLEGE HALLPHILADELPHIAPA191046303 (215) 898-7005
Form 990 (2013)
Form 990 (2013)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line in this Part VII ..............
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

RoundBullet List all of the organization’s current key employees, if any. See instructions for definition of "key employee."
RoundBullet List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

RoundBullet List all of the organization’s former officers, key employees, or highest compensated employees who received more than $100,000
of reportable compensation from the organization and any related organizations.

RoundBullet List all of the organization’s former directors or trustees that received, in the capacity as a former director or trustee of the
organization, more than $10,000 of reportable compensation from the organization and any related organizations.

List persons in the following order: individual trustees or directors; institutional trustees; officers; key employees; highest
compensated employees; and former such persons.
Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.
(A)
Name and Title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(1) ALLAN C BELL ESQ........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(2) SCOTT L BOK ESQ........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(3) JUDITH L BOLLINGER........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(4) DAVID M BRUSH........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(5) GILBERT F CASELLAS ESQ........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(6) DR WILLIAM W M CHEUNG DMD........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(7) DR RAYMOND K F CH'IEN........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(8) DAVID L COHEN ESQ........................................................................
CHAIRPERSON
 3.0
.......................0.0 		X   X       0 0 0
(9) SUSAN FRIER DANILOW ESQ........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(10) JAMES G DINAN........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(11) LEE SPELMAN DOTY........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(12) CONNIE K DUCKWORTH........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(13) WILLIAM P EGAN II........................................................................
TRUSTEE-THRU 12/31/13
 3.0
.......................0.0 		X           0 0 0
(14) DAVID ERTEL........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(15) JAY S FISHMAN........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(16) SARAH WILDER FULLER........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(17) MICHAEL F GERBER........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
Form 990 (2013)
Form 990 (2013)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and Title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W- 2/1099-MISC) 		(E)
Reportable compensation from related organizations (W- 2/1099-MISC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(18) PERRY GOLKIN ESQ........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(19) JOEL M GREENBLATT........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(20) JAMES H GREENE JR........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(21) VAHAN H GUREGHIAN........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(22) JANET F HAAS MD........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(23) ANDREW R HEYER........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(24) HON JON M HUNTSMAN JR........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(25) OSAGIE O IMASOGIE ESQ........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(26) JAMES C JOHNSON ESQ........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(27) ROBERT S KAPITO........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(28) MICHAEL J KOWALSKI........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(29) SUSANNA E LACHS ESQ........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(30) ANDREA BERRY LAPORTE........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(31) WILLIAM P LAUDER........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(32) CHARLES B LEITNER III........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(33) ROBERT M LEVY........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(34) CLAIRE LOMAX ESQ........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(35) HOWARD S MARKS........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(36) DR DEBORAH MARROW........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(37) MARC F MCMORRIS........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(38) ANDREA MITCHELL........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(39) KENNETH D MOELIS........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(40) DANIEL S OCH........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(41) SIMON D PALLEY........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(42) EGBERT L J PERRY........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(43) RICHARD C PERRY........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(44) JULIE BEREN PLATT........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(45) ANDREW S RACHLEFF........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(46) RAMANAN RAGHAVENDRAN........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(47) ANN NOLAN REESE........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(48) JAMES S RIEPE........................................................................
TRUSTEE-EMERITUS AS OF 11/8/13
 3.0
.......................0.0 		X           0 0 0
(49) KATHERINE S SACHS........................................................................
TRUSTEE-EMERITUS AS OF 11/8/13
 3.0
.......................0.0 		X           0 0 0
(50) MARIE A SAVARD MD........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(51) JULIE BREIER SEAMAN........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(52) JOHN P SHOEMAKER........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(53) DAVID M SILFEN........................................................................
VICE CHAIRPERSON
 3.0
.......................0.0 		X   X       0 0 0
(54) AMB MARTIN J SILVERSTEIN........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(55) DR KRISHNA P SINGH........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(56) CAROL ELIZABETH WARE........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(57) MARK B WERNER........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(58) MARK O WINKLEMAN........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(59) EHSAN EL-TAHRY ZAYAN........................................................................
TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(60) HON THOMAS CORBETT........................................................................
EX-OFFICIO TRUSTEE
 3.0
.......................0.0 		X           0 0 0
(61) DR AMY GUTMANN........................................................................
PRESIDENT, EX-OFFICIO TRUSTEE
 40.0
.......................0.0 		X   X       3,027,353 0 398,753
(62) CRAIG CARNAROLI........................................................................
EXECUTIVE VICE PRESIDENT
 40.0
.......................1.0 		    X       1,044,624 0 86,608
(63) JEFFREY COOPER........................................................................
VP GOVT & COMMUNITY RELATIONS
 40.0
.......................0.0 		    X       358,319 0 49,579
(64) BONNIE GIBSON........................................................................
VP BUDGET AND MGMT ANALYSIS
 40.0
.......................0.0 		    X       378,827 0 47,313
(65) STEPHEN GOLDING........................................................................
VP FINANCE AND TREASURER
 40.0
.......................3.0 		    X       437,737 0 54,851
(66) JOHN HEUER........................................................................
VP HUMAN RESOURCES
 40.0
.......................0.0 		    X       416,685 0 36,508
(67) JOHN HORN........................................................................
COMPTROLLER
 40.0
.......................0.0 		    X       281,565 0 30,159
(68) LARRY JAMESON........................................................................
VP AND DEAN OF PSOM
 40.0
.......................0.0 		    X       2,055,201 0 305,596
(69) LESLIE KRUHLY........................................................................
VP AND SECRETARY
 40.0
.......................0.0 		    X       314,007 0 41,809
(70) STEPHEN J MACCARTHY........................................................................
VP COMMUNICATIONS
 40.0
.......................0.0 		    X       423,723 0 58,204
(71) JOANN MITCHELL........................................................................
VP INSTITUTIONAL AFFAIRS
 40.0
.......................0.0 		    X       379,173 0 37,859
(72) THOMAS MURPHY........................................................................
VP ISC
 40.0
.......................0.0 		    X       355,204 0 19,192
(73) ANNE PAPAGEORGE........................................................................
VP FACILITIES AND REAL ESTATE
 40.0
.......................4.0 		    X       451,176 0 48,885
(74) VINCENT PRICE........................................................................
PROVOST
 40.0
.......................1.0 		    X       810,253 0 70,460
(75) GREGORY ROST........................................................................
VP AND CHIEF OF STAFF
 40.0
.......................1.0 		    X       514,021 0 60,899
(76) MAUREEN RUSH........................................................................
VP PUBLIC SAFETY
 40.0
.......................2.0 		    X       308,309 0 42,086
(77) WENDY WHITE........................................................................
SR VP AND GENERAL COUNSEL
 40.0
.......................1.0 		    X       771,315 0 71,986
(78) MARIE WITT........................................................................
VP BUSINESS SERVICES
 40.0
.......................0.0 		    X       337,129 0 53,433
(79) JOHN ZELLER........................................................................
VP DEVELOPMENT & ALUMNI RELTNS
 40.0
.......................0.0 		    X       994,830 0 63,263
(80) PETER AMMON........................................................................
CHIEF INVESTMENT OFFICER
 40.0
.......................0.0 		      X     378,169 0 839,415
(81) ANDREW BINNS........................................................................
ASSOCIATE PROVOST
 40.0
.......................0.0 		      X     313,873 0 42,309
(82) DAWN BONNELL........................................................................
VICE PROVOST FOR RESEARCH
 40.0
.......................0.0 		      X     309,022 0 32,078
(83) KATHY BRAMWELL........................................................................
VICE DEAN OF SAS- THRU 1/6/14
 40.0
.......................0.0 		      X     296,287 0 31,814
(84) PATRICK BRENNAN MD........................................................................
SR VP & CHIEF MEDICAL OFFICER
 40.0
.......................1.0 		      X     707,253 0 35,581
(85) REBECCA COOKE........................................................................
VICE DEAN, ADMIN PSOM
 40.0
.......................0.0 		      X     496,387 0 44,874
(86) PETER DEGNAN........................................................................
SENIOR ASSOCIATE DEAN
 40.0
.......................0.0 		      X     346,553 0 40,428
(87) STEVEN J FLUHARTY........................................................................
DEAN OF SAS
 40.0
.......................0.0 		      X     460,661 0 61,973
(88) GLEN N GAULTON........................................................................
VICE DEAN, PSOM
 40.0
.......................0.0 		      X     812,940 0 38,226
(89) ELIZABETH B JOHNSTON........................................................................
EXECUTIVE DIRECTOR CPUP
 40.0
.......................2.0 		      X     985,552 0 118,105
(90) KEITH KASPER........................................................................
CFO, UPHS
 25.0
.......................24.0 		      X     1,043,705 0 137,626
(91) JAMES MATTHEW LANE........................................................................
VICE DEAN OF SAS
 40.0
.......................0.0 		      X     128,074 0 26,891
(92) KEVIN MAHONEY........................................................................
SENIOR VP, CHIEF ADMIN OFFICER
 40.0
.......................7.0 		      X     1,018,441 0 137,543
(93) GAIL MORRISON........................................................................
VICE DEAN, EDUCATION PSOM
 40.0
.......................0.0 		      X     658,315 0 42,148
(94) RALPH MULLER........................................................................
CEO, UPHS
 40.0
.......................8.0 		      X     2,448,963 0 15,273
(95) PHILIP OKALA........................................................................
SR VP BUSINESS DEVELOPMENT
 40.0
.......................0.0 		      X     522,697 0 70,028
(96) PETER D QUINN MD DMD........................................................................
SR VP, VICE DEAN, PSOM
 40.0
.......................2.0 		      X     1,376,090 0 40,067
(97) THOMAS ROBERTSON........................................................................
DEAN OF WHARTON
 40.0
.......................0.0 		      X     735,247 0 36,709
(98) GARRY L SCHEIB........................................................................
COO, UPHS
 40.0
.......................6.0 		      X     1,516,903 0 192,827
(99) THOMAS L SPRAY MD........................................................................
CHOP- SURGERY
 40.0
.......................0.0 		        X   1,847,760 0 33,941
(100) MICHAEL SEAN GRADY MD........................................................................
SURGEON - OTORHINOLARYNGOLOGY
 40.0
.......................0.0 		        X   1,809,243 0 50,589
(101) WILLIAM C WELCH MD........................................................................
NEUROSURGERY
 40.0
.......................0.0 		        X   1,565,713 0 9,016
(102) PAUL MARCOTTE MD........................................................................
NEUROSURGERY
 40.0
.......................0.0 		        X   1,539,750 0 20,642
(103) ROSALIE ELENITSAS MD........................................................................
DERMATOLOGY
 40.0
.......................0.0 		        X   1,480,009 0 51,630
(104) ROBIN BECK........................................................................
FORMER VP, ISC
 40.0
.......................0.0 		          X 148,006 0 56,145
(105) ARTHUR RUBENSTEIN........................................................................
FORMER VP, DEAN, PSOM
 40.0
.......................0.0 		          X 461,982 0 44,830
(106) KRISTIN GILBERTSON........................................................................
FORMER CHIEF INVESTMENT OFFCR
 0.0
.......................0.0 		          X 163,652 0 16,240
1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)............MediumBullet 37,230,698 0 3,844,391
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organizationMediumBullet5,370
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............
3
Yes
 
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
LF DRISCOLL CO, 9 PRESIDENTIAL BLVDBALA CYNWYDPA19107 CONSTRUCTION MGMT 46,164,263
GOOD SHEPHERD PENN PARTNERS, 850 S 5TH STREETALLENTOWNPA18103 REHAB & MGMT SVCS 33,681,948
TRISTATE BENEFIT SOLUTIONS, 619 OAK STREET 1ST FLOORCINCINNATIOH45206 BILLING SERVICES 19,280,699
ALLIED BARTON SECURITY SERVICES, EIGHT TOWER BRIDGECONSHOHOCKENPA19428 SECURITY SERVICES 15,991,294
COMPASS GROUP USA, 2400 YOURKMONT ROADCHARLOTTENC28127 DINING SERVICES 13,133,452
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet501
Form 990 (2013)
Form 990 (2013)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII .............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512-514
Contributions, Gifts, GrantAmt and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues....1b  
c Fundraising events....1c 262,231
d Related organizations...1d  
e Government grants (contributions)1e 912,915,000
f All other contributions, gifts, grants, and
similar amounts not included above1f 		398,433,769
g Noncash contributions included in lines
1a-1f:$ 		168,570,191
h Total. Add lines 1a-1f.......MediumBullet 1,311,611,000
Program Service RevenueAmt Business Code
2a TUITION & FEES 611310 1,111,906,000 1,111,906,000    
b NET PATIENT SERVICE HEALTHCARE REVENUES 622110 2,369,315,000 2,369,315,000    
c AUXILIARY ENTERPRISES 611710 417,266,000 417,266,000    
d OTHER PROGRAM SERVICE REVENUES 611710 86,134,205 68,807,543 17,326,662  
e
f All other program service revenue .        
g Total. Add lines 2a–2f........MediumBullet 3,984,621,205
OtherAmt RevenueAmt 3 Investment income (including dividends, interest, and other similar amounts).......MediumBullet 109,246,000   337,053 108,908,947
4 Income from investment of tax-exempt bond proceeds..MediumBullet 0      
5 Royalties...........MediumBullet 19,726,000     19,726,000
(i) Real (ii) Personal
6a Gross rents 4,443,000 7,000
b Less: rental expenses    
c Rental income or (loss) 4,443,000 7,000
d Net rental income or (loss).......MediumBullet 4,450,000     4,450,000
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 9,009,628,000 1,194,000
b Less: cost or other basis and sales expenses 8,441,149,000 0
c Gain or (loss) 568,479,000 1,194,000
d Net gain or (loss)..........MediumBullet 569,673,000     569,673,000
8a Gross income from fundraising events (not including
$ 262,231
of contributions reported on line 1c). See Part IV, line 18 ..
a 51,887
b Less: direct expenses ...b 153,092
c Net income or (loss) from fundraising events..MediumBullet -101,205   -101,205
9a Gross income from gaming activities.
See Part IV, line 19 ...
a  
b Less: direct expenses ...b  
c Net income or (loss) from gaming activities...MediumBullet 0      
10a Gross sales of inventory, less
returns and allowances .
a 5,597,000
b Less: cost of goods sold ..b 3,984,000
c Net income or (loss) from sales of inventory..MediumBullet 1,613,000 1,613,000    
Miscellaneous Revenue Business Code
11a            
b            
c            
d All other revenue ....        
e Total. Add lines 11a–11d ...... MediumBullet 0
12 Total revenue. See Instructions......MediumBullet 6,000,839,000 3,968,907,543 17,663,715 702,656,742
Form 990 (2013)
Form 990 (2013)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX ...............
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising expenses
1 Grants and other assistance to governments and organizations in the United States. See Part IV, line 21 0 0
2 Grants and other assistance to individuals in the United States. See Part IV, line 22 374,920,000 374,920,000
3 Grants and other assistance to governments, organizations, and individuals outside the United States. See Part IV, lines 15 and 16 11,702,822 11,702,822
4 Benefits paid to or for members 0  
5 Compensation of current officers, directors, trustees, and key employees .... 38,760,119 36,822,113 1,938,006 0
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .... 6,296,608 5,981,778 314,830 0
7 Other salaries and wages 2,189,607,273 1,910,954,468 240,856,800 37,796,005
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 118,109,000 101,076,000 12,992,000 4,041,000
9 Other employee benefits ....... 372,798,000 319,034,000 41,008,000 12,756,000
10 Payroll taxes ........... 143,730,000 125,439,000 15,810,000 2,481,000
11 Fees for services (non-employees):        
a Management ...... 21,743,000 18,047,000 2,720,000 976,000
b Legal ......... 16,470,000 13,670,000 2,791,000 9,000
c Accounting ........... 2,607,000 2,268,000 335,000 4,000
d Lobbying ........... 85,000 71,000 14,000 0
e Professional fundraising services. See Part IV, line 17 667,000 667,000
f Investment management fees ...... 29,438,000 24,434,000 5,004,000 0
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) ........ 327,753,000 276,852,000 45,885,000 5,016,000
12 Advertising and promotion .... 17,569,000 14,437,000 2,811,000 321,000
13 Office expenses ....... 138,461,000 120,889,000 9,692,000 7,880,000
14 Information technology ...... 21,921,000 18,194,000 3,436,000 291,000
15 Royalties .. 0 0 0 0
16 Occupancy ........... 265,836,000 239,252,000 25,008,000 1,576,000
17 Travel ............ 68,935,000 59,592,000 5,515,000 3,828,000
18 Payments of travel or entertainment expenses for any federal, state, or local public officials ...... 0 0 0 0
19 Conferences, conventions, and meetings .... 33,349,000 24,437,000 2,668,000 6,244,000
20 Interest ........... 65,124,000 58,608,000 6,512,000 4,000
21 Payments to affiliates ....... 0 0 0 0
22 Depreciation, depletion, and amortization ..... 289,176,000 260,258,000 28,918,000 0
23 Insurance .............. 93,005,000 80,914,000 12,091,000 0
24 Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a MEDICAL SUPPLIES 366,083,000 366,083,000 0 0
b OTHER TAXES 77,413,000 75,091,000 2,272,000 50,000
c G&C OVERHEAD EXPENSES 50,002,000 43,502,000 6,500,000 0
d MISCELLANEOUS EXPENSES 34,507,178 31,041,283 1,348,898 2,116,997
e All other expenses 15,375,000 13,195,000 1,800,000 380,000
25 Total functional expenses. Add lines 1 through 24e 5,191,443,000 4,626,765,464 478,240,534 86,437,002
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here MediumBullet if following SOP 98-2 (ASC 958-720).        
Form 990 (2013)
Form 990 (2013)
Page 11
Part X Balance Sheet Check if Schedule O contains a response or note to any line in this Part X ..............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash–non-interest-bearing ............. 0 1 0
2 Savings and temporary cash investments ......... 1,226,616,000 2 1,067,877,000
3 Pledges and grants receivable, net ........... 333,662,000 3 322,892,000
4 Accounts receivable, net ............. 399,405,000 4 418,609,000
5 Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of
Schedule L ..................
240,000 5 0
6 Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
23,929 6 0
7 Notes and loans receivable, net ............. 93,275,071 7 93,726,000
8 Inventories for sale or use .............. 15,488,324 8 16,180,183
9 Prepaid expenses and deferred charges .......... 31,206,609 9 52,000,694
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 7,301,279,000
b Less: accumulated depreciation ..... 10b 3,266,414,000 3,899,759,000 10c 4,034,865,000
11 Investments—publicly traded securities .......... 4,825,591,495 11 6,167,905,260
12 Investments—other securities. See Part IV, line 11 ..... 3,956,468,505 12 4,076,194,740
13 Investments—program-related. See Part IV, line 11 ..... 0 13 0
14 Intangible assets ............... 0 14 0
15 Other assets. See Part IV, line 11 ........... 124,035,067 15 147,998,123
16 Total assets. Add lines 1 through 15 (must equal line 34)...... 14,905,771,000 16 16,398,248,000
Liabilities 17 Accounts payable and accrued expenses ......... 1,386,195,000 17 1,362,690,000
18 Grants payable ................. 0 18 0
19 Deferred revenue ................ 113,715,000 19 111,432,000
20 Tax-exempt bond liabilities ............. 1,429,044,000 20 1,348,402,000
21 Escrow or custodial account liability. Complete Part IV of Schedule D.. 0 21 0
22 Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
persons. Complete Part II of Schedule L.......... 0 22 0
23 Secured mortgages and notes payable to unrelated third parties .. 849,000 23 812,000
24 Unsecured notes and loans payable to unrelated third parties .... 0 24 0
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D.................... 1,468,892,000 25 1,557,927,000
26 Total liabilities. Add lines 17 through 25......... 4,398,695,000 26 4,381,263,000
Net Assets or Fund Balance Organizations that follow SFAS 117 (ASC 958), check here MediumBullet and complete lines 27 through 29, and lines 33 and 34.
27 Unrestricted net assets .............. 5,485,886,000 27 6,326,161,000
28 Temporarily restricted net assets ........... 2,198,281,000 28 2,676,799,000
29 Permanently restricted net assets ........... 2,822,909,000 29 3,014,025,000
Organizations that do not follow SFAS 117 (ASC 958), check here MediumBullet and complete lines 30 through 34.
30 Capital stock or trust principal, or current funds ........   30  
31 Paid-in or capital surplus, or land, building or equipment fund .....   31  
32 Retained earnings, endowment, accumulated income, or other funds   32  
33 Total net assets or fund balances ........... 10,507,076,000 33 12,016,985,000
34 Total liabilities and net assets/fund balances ........ 14,905,771,000 34 16,398,248,000
Form 990 (2013)
Form 990 (2013)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI ..............
1
Total revenue (must equal Part VIII, column (A), line 12) ............
1
6,000,839,000
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
5,191,443,000
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
809,396,000
4
Net assets or fund balances at beginning of year (must equal Part X, line 33, column (A)) ..
4
10,507,076,000
5
Net unrealized gains (losses) on investments ...............
5
740,369,000
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
 
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
-39,856,000
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 33, column (B))
10
12,016,985,000
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line in this Part XII .............
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?
2a
 
No
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
b
Were the organization’s financial statements audited by an independent accountant?
2b
Yes
 
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
c
If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
2c
Yes
 
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133?
3a
Yes
 
b
If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.
3b
Yes
 
Form 990 (2013)
Form 990, Special Condition Description:
Special Condition Description
Additional Data


Software ID:  
Software Version:  
SCHEDULE A
(Form 990 or 990EZ)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support
Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ. right arrow See separate instructions.
right arrow Information about Schedule A (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public
Inspection
Name of the organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
 
Employer identification number

23-1352685
Part I
Reason for Public Charity Status (All organizations must complete this part.) See instructions.
The organization is not a private foundation because it is: (For lines 1 through 11, check only one box.)
1
2
3
4
5
section 170(b)(1)(A)(iv). (Complete Part II.)
6
7
8
9
receipts from activities related to its exempt functions—subject to certain exceptions, and (2) no more than 331/3% of
its support from gross investment income and unrelated business taxable income (less section 511 tax) from businesses
acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)
10
11
e
f
g
(i) A person who directly or indirectly controls, either alone or together with persons described in (ii)
Yes
No
and (iii) below, the governing body of the supported organization? ................
11g(i)
 
 
(ii) A family member of a person described in (i) above? ......................
11g(ii)
 
 
(iii) A 35% controlled entity of a person described in (i) or (ii) above? ................
11g(iii)
 
 
h
Provide the following information about the supported organization(s).
(i) Name of supported organization (ii) EIN (iii) Type of organization (described on lines 1- 9 above or IRC section (see instructions)) (iv) Is the organization in col. (i) listed in your governing document? (v) Did you notify the organization in col. (i) of your support? (vi) Is the organization in col. (i) organized in the U.S.? (vii) Amount of monetary support
Yes No Yes No Yes No
Total  

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990EZ.
Cat. No. 11285F
Schedule A (Form 990 or 990-EZ) 2013
Schedule A (Form 990 or 990-EZ) 2013
Page 2
Part II
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi)
(Complete only if you checked the box on line 5, 7, or 8 of Part I or if the organization failed to qualify under Part III. If the organization fails to qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2009 (b) 2010 (c) 2011 (d) 2012 (e) 2013 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .... 1,131,214,000 1,451,557,000 1,314,155,000 1,383,430,000 1,311,611,000 6,591,967,000
2 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.......           0
3 The value of services or facilities furnished by a governmental unit to the organization without charge..           0
4 Total. Add lines 1 through 3 1,131,214,000 1,451,557,000 1,314,155,000 1,383,430,000 1,311,611,000 6,591,967,000
5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column (f).. 0
6 Public support. Subtract line 5 from line 4. 6,591,967,000
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2009 (b) 2010 (c) 2011 (d) 2012 (e) 2013 (f) Total
7 Amounts from line 4.. 1,131,214,000 1,451,557,000 1,314,155,000 1,383,430,000 1,311,611,000 6,591,967,000
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... 95,070,000 114,057,436 139,371,259 190,848,313 133,084,947 672,431,955
9 Net income from unrelated business activities, whether or not the business is regularly carried on.. 0 0 0 0 0 0
10 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part IV.).. 1,741,000 1,862,000 1,726,000 1,449,000 1,613,000 8,391,000
11 Total support (Add lines 7 through 10). 7,272,789,955
12
12
18,335,124,498
13
First five years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a 501(c)(3) organization, check this box and stop here.................................................right arrow
Section C. Computation of Public Support Percentage
14
14
90.639 %
15
15
0 %
16a
b
17a
b
18
Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see
instructions ..................................................... right arrow
Schedule A (Form 990 or 990-EZ) 2013
Schedule A (Form 990 or 990-EZ) 2013
Page 3
Part III
Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 9 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.)
Section A. Public Support
Calendar year (or fiscal year beginning in) right arrow (a) 2009 (b) 2010 (c) 2011 (d) 2012 (e) 2013 (f) Total
1 Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .            
2 Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose......            
3 Gross receipts from activities that are not an unrelated trade or business under section 513..            
4 Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...            
5 The value of services or facilities furnished by a governmental unit to the organization without charge..            
6 Total. Add lines 1 through 5.            
7a Amounts included on lines 1, 2, and 3 received from disqualified persons...            
b Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year.            
c Add lines 7a and 7b..            
8 Public support (Subtract line 7c from line 6.)  
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2009 (b) 2010 (c) 2011 (d) 2012 (e) 2013 (f) Total
9 Amounts from line 6...            
10a Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..            
b Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.            
c Add lines 10a and 10b.            
11 Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.            
12 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part IV.) ..            
13 Total support. (Add lines 9, 10c, 11, and 12.)..            
14
Section C. Computation of Public Support Percentage
15
15
 
16
16
 
Section D. Computation of Investment Income Percentage
17
17
 
18
18
 
19a
b
20
Schedule A (Form 990 or 990-EZ) 2013
Schedule A (Form 990 or 990-EZ) 2013
Page 4
Part IV
Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; and Part III, line 12. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
 
Explanation
 
 
 
 
Schedule A (Form 990 or 990-EZ) 2013

Additional Data


Software ID:  
Software Version:  
Schedule B
(Form 990, 990-EZ,
or 990-PF)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors
Arrow Bullet Attach to Form 990, 990-EZ, or 990-PF.
Arrow Bullet Information about Schedule B (Form 990, 990-EZ, or 990-PF) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
Name of the organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
 
Employer identification number

23-1352685
Organization type (check one):
Filers of:
Section:
Form 990 or 990-EZ





Form 990-PF




Check if your organization is covered by the General Rule or a Special Rule.  
Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.
General Rule
Special Rules
......................... Arrow Bullet $  
Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).
For Paperwork Reduction Act Notice, see the Instructions
for Form 990, 990-EZ, or 990-PF.
Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2013)

Schedule B (Form 990, 990-EZ, or 990-PF) (2013)
Page 2
Name of organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
  		Employer identification number

23-1352685
Part I
Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
RESTRICTED
RESTRICTED
 

   
RESTRICTED
RESTRICTED
RESTRICTED, RESTRICTEDRESTRICTED

$RESTRICTED


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 

   
 
 

$  


(Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2013)

Schedule B (Form 990, 990-EZ, or 990-PF) (2013)
Page 3
Name of organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
  		Employer identification number

23-1352685
Part II
Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
(a) No.
from
Part I		 (b)
Description of noncash property given		 (c)
FMV (or estimate)
(see instructions) 		(d)
Date received
 
$    
Schedule B (Form 990, 990-EZ, or 990-PF) (2013)

Schedule B (Form 990, 990-EZ, or 990-PF) (2013)
Page 4
Name of organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
  		Employer identification number

23-1352685
Part III
Exclusively religious, charitable, etc., individual contributions to section 501(c)(7), (8), or (10) organizations
that total more than $1,000 for the year. Complete columns (a) through (e) and the following line entry.
For organizations completing Part III, enter the total of exclusively religious, charitable, etc.,
contributions of $1,000 or less for the year. (Enter this information once. See instructions.) Arrow Bullet$  
Use duplicate copies of Part III if additional space is needed.
(a) No.
from
Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a) No.
from
Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a) No.
from
Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
(a) No.
from
Part I		 (b) Purpose of gift (c) Use of gift (d) Description of how gift is held
 
(e) Transfer of gift
Transferee's name, address, and ZIP 4 Relationship of transferor to transferee
 
 
     
 
Schedule B (Form 990, 990-EZ, or 990-PF) (2013)

Additional Data


Software ID:  
Software Version:  
SCHEDULE C
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Political Campaign and Lobbying Activities

For Organizations Exempt From Income Tax Under section 501(c) and section 527
SchCMd Bullet Complete if the organization is described below.SchCMd Bullet Attach to Form 990 or Form 990-EZ.
SchCMd Bullet See separate instructions.SchCMd Bullet Information about Schedule C (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public
Inspection
If the organization answered "Yes" to Form 990, Part IV, Line 3, or Form 990-EZ, Part V, line 46 (Political Campaign Activities), then
Round Bullet Section 501(c)(3) organizations: Complete Parts I-A and B. Do not complete Part I-C.
Round Bullet Section 501(c) (other than section 501(c)(3)) organizations: Complete Parts I-A and C below. Do not complete Part I-B.
Round Bullet Section 527 organizations: Complete Part I-A only.
If the organization answered "Yes" to Form 990, Part IV, Line 4, or Form 990-EZ, Part VI, line 47 (Lobbying Activities), then
Round Bullet Section 501(c)(3) organizations that have filed Form 5768 (election under section 501(h)): Complete Part II-A. Do not complete Part II-B.
Round Bullet Section 501(c)(3) organizations that have NOT filed Form 5768 (election under section 501(h)): Complete Part II-B. Do not complete Part II-A.
If the organization answered "Yes" to Form 990, Part IV, Line 5 (Proxy Tax) or Form 990-EZ, Part V, line 35c (Proxy Tax), then
Round Bullet Section 501(c)(4), (5), or (6) organizations: Complete Part III.
Name of the organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
 
Employer identification number

23-1352685
Part I-A
Complete if the organization is exempt under section 501(c) or is a section 527 organization.

1
Provide a description of the organization’s direct and indirect political campaign activities in Part IV.
2
Political expenditures ....................................SchCMd Bullet
$  
3
Volunteer hours ........................................
 

Part I-B
Complete if the organization is exempt under section 501(c)(3).
1
Enter the amount of any excise tax incurred by the organization under section 4955 .........SchCMd Bullet
$  
2
Enter the amount of any excise tax incurred by organization managers under section 4955 ......SchCMd Bullet
$  
3
If the organization incurred a section 4955 tax, did it file Form 4720 for this year? ..............
4a
Was a correction made? .........................................
b
If "Yes," describe in Part IV.
Part I-C
Complete if the organization is exempt under section 501(c), except section 501(c)(3).
1
Enter the amount directly expended by the filing organization for section 527 exempt function activities SchCMd Bullet
$  
2
Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt function activities ...................................SchCMd Bullet

$  
3
Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b..SchCMd Bullet

$  
4
Did the filing organization file Form 1120-POL for this year? ..........................
5
Enter the names, addresses and employer identification number (EIN) of all section 527 political organizations to which the filing
organization made payments. For each organization listed, enter the amount paid from the filing organization’s funds. Also enter the amount of political contributions received that were promptly and directly delivered to a separate political organization, such as a separate segregated fund or a political action committee (PAC). If additional space is needed, provide information in Part IV.
(a) Name (b) Address (c) EIN (d) Amount paid from filing organization's funds. If none, enter -0-. (e) Amount of political contributions received and promptly and directly delivered to a separate political organization. If none, enter -0-.










For Paperwork Reduction Act Notice, see the instructions for Form 990 or 990-EZ.
Cat. No. 50084S
Schedule C (Form 990 or 990-EZ) 2013

Schedule C (Form 990 or 990-EZ) 2013
Page 2
Part II-A
Complete if the organization is exempt under section 501(c)(3) and filed Form 5768 (election under section 501(h)).
A Check SchCMd Bulletexpenses, and share of excess lobbying expenditures).
B Check SchCMd Bullet
Limits on Lobbying Expenditures
(The term "expenditures" means amounts paid or incurred.) 		(a) Filing
organization's
totals 		(b) Affiliated group
totals
1a Total lobbying expenditures to influence public opinion (grass roots lobbying) ......    
b Total lobbying expenditures to influence a legislative body (direct lobbying) .......    
c Total lobbying expenditures (add lines 1a and 1b) ...................    
d Other exempt purpose expenditures ........................    
e Total exempt purpose expenditures (add lines 1c and 1d) ...............    
f Lobbying nontaxable amount. Enter the amount from the following table in both
columns.		    
If the amount on line 1e, column (a) or (b) is:The lobbying nontaxable amount is:
Not over $500,00020% of the amount on line 1e.
Over $500,000 but not over $1,000,000$100,000 plus 15% of the excess over $500,000.
Over $1,000,000 but not over $1,500,000$175,000 plus 10% of the excess over $1,000,000.
Over $1,500,000 but not over $17,000,000$225,000 plus 5% of the excess over $1,500,000.
Over $17,000,000$1,000,000.
g Grassroots nontaxable amount (enter 25% of line 1f) .................    
h Subtract line 1g from line 1a. If zero or less, enter -0-. ................    
i Subtract line 1f from line 1c. If zero or less, enter -0-. ................    
j If there is an amount other than zero on either line 1h or line 1i, did the organization file Form 4720 reporting
section 4911 tax for this year? ......................................

4-Year Averaging Period Under Section 501(h)
(Some organizations that made a section 501(h) election do not have to complete all of the five
columns below. See the instructions for lines 2a through 2f on page 4.)
Lobbying Expenditures During 4-Year Averaging Period
Calendar year (or fiscal year
beginning in) 		(a) 2010 (b) 2011 (c) 2012 (d) 2013 (e) Total
2a Lobbying nontaxable amount          
b Lobbying ceiling amount
(150% of line 2a, column(e)) 		 
c Total lobbying expenditures          
d Grassroots nontaxable amount          
e Grassroots ceiling amount
(150% of line 2d, column (e))		  
f Grassroots lobbying expenditures          
Schedule C (Form 990 or 990-EZ) 2013


Schedule C (Form 990 or 990-EZ) 2013
Page 3
Part II-B
Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)).
For each "Yes" response to lines 1a through 1i below, provide in Part IV a detailed description of the lobbying activity.
(a)
No
Yes
(b)
Amount
1
During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:
a
Volunteers? .........................................
Yes
 
b
Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ....
Yes
 
c
Media advertisements? ....................................
 
No
 
d
Mailings to members, legislators, or the public? .........................
 
No
 
e
Publications, or published or broadcast statements? .......................
 
No
 
f
Grants to other organizations for lobbying purposes? .......................
 
No
 
g
Direct contact with legislators, their staffs, government officials, or a legislative body? ........
Yes
 
1,181,004
h
Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ......
 
No
 
i
Other activities? ..........................
 
No
 
j
Total. Add lines 1c through 1i ...............................
1,181,004
2a
Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....
 
No
b
If "Yes," enter the amount of any tax incurred under section 4912 .................
 
c
If "Yes," enter the amount of any tax incurred by organization managers under section 4912 .....
 
d
If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? .......
 
 
Part III-A
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6).
Yes
No
1
Were substantially all (90% or more) dues received nondeductible by members? ................
1
 
 
2
Did the organization make only in-house lobbying expenditures of $2,000 or less? ................
2
 
 
3
Did the organization agree to carry over lobbying and political expenditures from the prior year? ..........
3
 
 
Part III-B
Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) and if either (a) BOTH Part III-A, lines 1 and 2, are answered "No" OR (b) Part III-A, line 3, is answered “Yes."
1
Dues, assessments and similar amounts from members .....................
1
 
2
Section 162(e) nondeductible lobbying and political expenditures (do not include amounts of political
expenses for which the section 527(f) tax was paid).
a
Current year .........................................
2a
 
b
Carryover from last year ....................................
2b
 
c
Total ............................................
2c
 
3
Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .
3
 
4
If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? ................................
4
 
5
Taxable amount of lobbying and political expenditures (see instructions) ..............
5
 
Part IV
Supplemental Information
Provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, line 5; Part II-A (affiliated group list); Part II-A, line 2; and Part ll-B, line 1. Also, complete this part for any additional information.
Return Reference Explanation
DETAIL OF LOBBYING ACTIVITIES- SCHEDULE C, PART II-B THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA (THE "UNIVERSITY") ALUMNI AND TRUSTEES OCCASIONALLY ENGAGE IN ADVOCACY RELATED TO FEDERAL AND STATE APPROPRIATIONS FOR PROGRAMS OF IMPORTANCE TO THE UNIVERSITY. THE UNIVERSITY MAINTAINS AN OFFICE OF FEDERAL RELATIONS, WHOSE MAIN FUNCTION IS TO KEEP THE UNIVERSITY COMMUNITY APPRISED OF FEDERAL DEVELOPMENTS WHICH MAY HAVE AN IMPACT ON THE UNIVERSITY INCLUDING, AMONG OTHERS, PENDING CHANGES TO THE INTERNAL REVENUE CODE, RESEARCH FUNDING AND ISSUES OF STUDENT AID. THE UNIVERSITY, A PRIVATE NON-PROFIT EDUCATIONAL INSTITUTION, RECEIVES DIRECT ANNUAL NON-PREFERRED APPROPRIATIONS FROM THE COMMONWEALTH OF PENNSYLVANIA. THE AMOUNT AND CONTINUATION OF THESE APPROPRIATIONS ARE NOT GUARANTEED. THEREFORE, THE UNIVERSITY MAINTAINS AN OFFICE OF COMMONWEALTH RELATIONS IN ORDER TO SUPPORT, JUSTIFY, AND COORDINATE THESE APPROPRIATION REQUESTS BEFORE THE STATE DEPARTMENT OF AGRICULTURE, OTHER APPROPRIATE AGENCIES OF THE EXECUTIVE BRANCH, AND THE GENERAL ASSEMBLY. THE MAJORITY OF THIS OFFICE'S EFFORTS ARE RELATED TO ACTIVITIES SUPPORTING THESE APPROPRIATION REQUESTS. ADDITIONALLY, THIS OFFICE MAY ALSO CONDUCT MINIMAL LOBBYING ACTIVITIES RELATED TO OTHER ISSUES, SUCH AS STUDENT AID AND OTHER PROGRAMS RELATED TO HIGHER EDUCATION. IN CONJUNCTION WITH THESE TYPES OF LOBBYING ACTIVITIES, THE UNIVERSITY HAS CONTRACTED WITH PROFESSIONAL LOBBYISTS TO CONTACT LEGISLATORS IN CONNECTION WITH THE UNIVERSITY'S ANNUAL APPROPRIATIONS. THE UNIVERSITY OF PENNSYLVANIA HEALTH SYSTEM, THROUGH ITS OFFICE OF GOVERNMENTAL AFFAIRS, CONDUCTED LOBBYING ACTIVITIES WITH RESPECT TO HEALTH CARE RELATED ISSUES AND LEGISLATION. THESE ACTIVITIES INCLUDED MEETING WITH LEGISLATORS, THEIR STAFF, AND GOVERNMENTAL OFFICIALS, AS WELL AS CONDUCTING SEMINARS.
Schedule C (Form 990 or 990EZ) 2013

Additional Data


Software ID:  
Software Version:  

SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b
SchDMd Bullet Attach to Form 990. SchDMd Bullet See separate instructions. SchDMd Bullet Information about Schedule D (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public Inspection
Name of the organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
 
Employer identification number

23-1352685
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year ......... 3  
2 Aggregate contributions to (during year) ... 0  
3 Aggregate grants from (during year) ..... 158,000  
4 Aggregate value at end of year ........ 1,862,973  
5
Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............
6
Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................
Part II
Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.
Held at the End of the Year
a Total number of conservation easements ....................... 2a  
b Total acreage restricted by conservation easements .................. 2b  
c Number of conservation easements on a certified historic structure included in (a) ..... 2c  
d Number of conservation easements included in (c) acquired after 8/17/06, and not on a historic structure listed in the National Register .................... 2d  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the tax year SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................
6
Staff and volunteer hours devoted to monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet $  
8
Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .......................................
9
In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under SFAS 116 (ASC 958), not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.
b
If the organization elected, as permitted under SFAS 116 (ASC 958), to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:
(i)
Revenues included in Form 990, Part VIII, line 1 ........................SchDMd Bullet $ 3,757,383
(ii)
Assets included in Form 990, Part X ..............................SchDMd Bullet $ 50,529,892
2
If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 (ASC 958) relating to these items:
a
Revenues included in Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2013

Schedule D (Form 990) 2013
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........
Part IV
Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
b
If "Yes," explain the arrangement in Part XIII and complete the following table:
Amount
c Beginning balance ................................. 1c  
d Additions during the year .............................. 1d  
e Distributions during the year ............................. 1e  
f Ending balance ................................... 1f  
2a
Did the organization include an amount on Form 990, Part X, line 21? .....................
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ........
Part V
Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.
(a)Current year (b)Prior year b (c)Two years back (d)Three years back (e)Four years back
1a Beginning of year balance .... 7,827,594,279 6,816,978,627 6,254,552,023 5,385,975,350 4,906,520,000
b Contributions ........ 294,067,010 327,276,890 339,992,512 126,576,673 126,500,644
c Net investment earnings, gains, and losses 1,323,529,783 941,202,272 454,967,092 949,861,000 575,762,673
d Grants or scholarships ..... 0 0 0 0 0
e Other expenditures for facilities
and programs ........ 		277,022,000 257,261,000 232,533,000 207,861,000 222,807,967
f Administrative expenses .... 0 0 0 0 0
g End of year balance ...... 9,168,169,072 7,828,196,789 6,816,978,627 6,254,552,023 5,385,975,350
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment SchDMd Bullet44.860 %
b
Permanent endowment SchDMd Bullet22.600 %
c
Temporarily restricted endowment SchDMd Bullet32.540 %
The percentages in lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) unrelated organizations ........................
3a(i)
Yes
 
(ii) related organizations ........................
3a(ii)
 
No
b
If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis (investment) (b)Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .................   229,814,000 229,814,000
b Buildings ................   5,585,283,000 2,340,298,000 3,244,985,000
c Leasehold improvements ............        
d Equipment ................   1,157,528,000 926,116,000 231,412,000
e Other .................   328,654,000 0 328,654,000
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......SchDMdBullet 4,034,865,000
Schedule D (Form 990) 2013

Schedule D (Form 990) 2013
Page 3
Part VII
Investments—Other Securities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11b. See Form 990, Part X, line 12.
(a) Description of security or category
(including name of security)		 (b)Book value (c) Method of valuation:
Cost or end-of-year market value
(1)Financial derivatives    
(2)Closely-held equity interests    
(3)Other
(A) VENTURE CAPITAL & OTHER INVEST 		3,607,569,775 F

(B) REAL ESTATE 		437,322,965 F

(C) INVESTMENT IN SUBSIDIARIES 		31,302,000 F






Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)Small Bullet 4,076,194,740
Part VIII
Investments—Program Related. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11c. See Form 990, Part X, line 13.
(a) Description of investment (b) Book value (c) Method of valuation:
Cost or end-of-year market value








Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value








Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........Small Bullet  
Part X
Other Liabilities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
Federal income taxes 0
LIABILITIES ASSOCIATED W/ INVESTMENTS 183,211,000
DEPOSITS, ADVANCES, AGENCY FUNDS 120,863,000
FEDERAL STUDENT LOAN ADVANCES 79,938,000
ACCRUED RETIREMENT BENEFITS 873,670,000
INTERCOMPANY DUE TO AFFILIATES 245,000
TAXABLE BOND LIABILITY 300,000,000



Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)Small Bullet 1,557,927,000
2. Liability for uncertain tax positions In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII ..................................................
Schedule D (Form 990) 2013

Schedule D (Form 990) 2013
Page 4
Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1  
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains on investments .......... 2a  
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ............ 2d  
e Add lines 2a through 2d ..................... 2e  
3 Subtract line 2e from line 1..................... 3  
4 Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b . 4a  
b Other (Describe in Part XIII.) ........... 4b  
c Add lines 4a and 4b....................... 4c  
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5  
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1  
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities .......... 2a  
b Prior year adjustments .............. 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIII.) ............ 2d  
e Add lines 2a through 2d...................... 2e  
3 Subtract line 2e from line 1..................... 3  
4 Amounts included on Form 990, Part IX, line 25, but not on line 1:
a Investment expenses not included on Form 990, Part VIII, line 7b .. 4a  
b Other (Describe in Part XIII.) ............ 4b  
c Add lines 4a and 4b....................... 4c  
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5  
Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
DESCRIPTION OF COLLECTIONS- SCHEDULE D, PART III, LINE 4 THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA (THE "UNIVERSITY") CURRENTLY MAINTAINS 14 LIBRARIES. THE COLLECTIONS, AS A WHOLE, INCLUDE INFORMATION FROM NUMEROUS FIELDS OF STUDY. THE UNIVERSITY'S DEPARTMENTAL LIBRARIES ARE GENERALLY SUBJECT SPECIFIC (MATH/PHYSICS/ASTRONOMY, FINE ARTS, BUSINESS, MUSIC, BIOMEDICAL, DENTAL MEDICINE, VETERINARY MEDICINE, ETC.) AND THE VAN PELT-DIETRICH LIBRARY CENTER HOUSES INFORMATION FROM ALL OF THESE AREAS, AS WELL AS THE RARE BOOK COLLECTION AND ALL OF THE HUMANITIES. SUBJECT HOLDINGS INCLUDE PHILOSOPHY, PSYCHOLOGY, RELIGION, HISTORY, GEOGRAPHY, ANTHROPOLOGY, RECREATION, SOCIAL SCIENCE, ECONOMICS, SOCIOLOGY, POLITICAL SCIENCE, LAW, EDUCATION, LITERATURE, SCIENCE, AGRICULTURE, TECHNOLOGY, MILITARY SCIENCE, AND GENERAL BIBLIOGRAPHY. THE LIBRARIES' COLLECTIONS, BOTH PRINT AND ELECTRONIC, DIRECTLY SUPPORT THE RESEARCH AND INSTRUCTION MISSION OF THE UNIVERSITY BY ENSURING ACCESS TO CURRENT AND HISTORICAL INFORMATION. THE UNIVERSITY DOES NOT SOLICIT OR RECEIVE DONATIONS OF ART, HISTORICAL TREASURES OR OTHER SIMILAR ASSETS TO BE SOLD IN ORDER TO RAISE FUNDS RATHER THAN TO BE MAINTAINED AS PART OF THE ORGANIZATION'S COLLECTION. ANY PROSPECTIVE ACCESSIONING OR DEACCESSIONING OF MATERIALS IS REVIEWED BY THE MUSEUM'S ACQUISITIONS COMMITTEE IN ACCORDANCE WITH THE MUSEUM'S ACQUISITIONS POLICY AND PROCEDURES. ALL OBJECTS CONSIDERED FOR ACQUISITION ARE REVIEWED IN LIGHT OF THE 1970 UNESCO CONVENTION. OBJECTS OFFERED TO THE MUSEUM AND IMPORTED INTO THE UNITED STATES PRIOR TO THE ADOPTION OF THE UNESCO CONVENTION OF 1970 ARE CONSIDERED IN LIGHT OF THE LAWS IN PLACE IN THEIR COUNTRIES OF ORIGIN AT THE TIME OF THEIR DOCUMENTED APPEARANCE IN THE UNITED STATES. ACCESSIONED COLLECTIONS, WHICH ARE DOCUMENTED ARCHAEOLOGICAL AND ETHNOGRAPHIC MATERIAL, ARE ACQUIRED PRIMARILY FOR RESEARCH, EXHIBITION, AND PRESERVATION PURPOSES. THEY ARE ACCESSIONED UNDER THE CARE OF THE CURATORIAL SECTIONS. ARCHIVAL COLLECTIONS, WHICH ARE RECORDS OF EXPEDITIONS, RESEARCH, EXHIBITIONS, OR MUSEUM ADMINISTRATIVE RECORDS IN THE FORM OF EITHER DOCUMENTS OR VISUAL IMAGES (E.G. PHOTOGRAPHS) ARE ACCESSIONED UNDER THE CARE OF THE MUSEUM ARCHIVES. EDUCATIONAL MATERIALS, WHICH ARE OBJECTS WHOSE SOLE USE IS TO FACILITATE VARIOUS EDUCATIONAL PROGRAMS (E.G. OUTREACH PRESENTATIONS, TEACHERS' PACKAGES, OR CHILDREN'S WORKSHOPS) ARE DESIGNATED FOR TOUCHING AND HANDLING, ARE NOT ACCESSIONED AND ARE MANAGED BY THE LEARNING PROGRAMS DEPARTMENT. --------------------
USE OF ENDOWMENT FUNDS- SCHEDULE D, PART V DURING THE YEAR ENDED JUNE 30, 2014, THE UNIVERSITY'S ENDOWMENT CONSISTED OF 5,539 DONOR-RESTRICTED PERMANENT OR TERM ENDOWMENT FUNDS AND 844 UNRESTRICTED ENDOWMENT FUNDS ESTABLISHED BY THE UNIVERSITY'S BOARD OF TRUSTEES TO BE USED IN FURTHERANCE OF THE ORGANIZATION'S TAX-EXEMPT PURPOSES. --------------------
TEXT OF FIN 48 (ASC 740) FOOTNOTE- SCHEDULE D, PART X THE UNIVERSITY EVALUATES ITS TAX POSITION BASED ON THE FASB STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, WHICH REQUIRES THE USE OF A TWO-STEP APPROACH FOR RECOGNIZING AND MEASURING TAX BENEFITS TAKEN OR EXPECTED TO BE TAKEN IN AN UNRELATED BUSINESS ACTIVITY TAX RETURN AND DISCLOSURES REGARDING UNCERTAINTIES IN TAX POSITIONS. THE FIRST STEP IS RECOGNITION: THE UNIVERSITY DETERMINES WHETHER IT IS MORE LIKELY THAN NOT THAT A TAX POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTION OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON THE TECHNICAL MERITS OF THE POSITION. IN EVALUATING WHETHER A TAX POSITION HAS MET THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD, THE UNIVERSITY PRESUMES THAT THE POSITION WILL BE EXAMINED BY THE APPROPRIATE TAXING AUTHORITY THAT HAS FULL KNOWLEDGE OF ALL RELEVANT INFORMATION. THE SECOND STEP IS MEASUREMENT: A TAX POSITION THAT MEETS THE MORE-LIKELY-THAN-NOT THRESHOLD IS MEASURED TO DETERMINE THE AMOUNT OF BENEFIT TO RECOGNIZE IN THE FINANCIAL STATEMENTS. THE TAX POSITION IS MEASURED AT THE LARGEST AMOUNT OF BENEFIT THAT IS GREATER THAN 50 PERCENT LIKELY OF BEING REALIZED UPON ULTIMATE SETTLEMENT. DIFFERENCE BETWEEN TAX POSITIONS TAKEN IN A TAX RETURN AND AMOUNTS RECOGNIZED IN THE FINANCIAL STATEMENTS WILL GENERALLY RESULT IN AN INCREASE IN A LIABILITY FOR INCOME TAXES PAYABLE OR A REDUCTION OF AN INCOME TAX REFUND RECEIVABLE. --------------------
OTHER LIABILITIES DETAIL- SCHEDULE D, PART X THE INTERCOMPANY DUE TO AFFILIATES BALANCE INCLUDES AMOUNTS OWED TO AFFILIATES BASED UPON THE UNIVERSITY'S CENTRAL MANAGEMENT OF THE CASH HELD BY CERTAIN AFFILIATES.
Schedule D (Form 990) 2013

Additional Data


Software ID:  
Software Version:  




SCHEDULE E(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Schools
Right pointing arrow large imageComplete if the organization answered "Yes" to Form 990,
Part IV, line 13, or Form 990-EZ, Part VI, line 48.
Right pointing arrow large image Attach to Form 990 or Form 990-EZ.
Right pointing arrow large image Information about Schedule E (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public Inspection
Name of the organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
 
Employer identification number

23-1352685
Part I
YES
NO
1
Does the organization have a racially nondiscriminatory policy toward students by statement in its charter, bylaws,
other governing instrument, or in a resolution of its governing body? ......................
1
Yes
 
2
Does the organization include a statement of its racially nondiscriminatory policy toward students in all its
brochures, catalogues, and other written communications with the public dealing with student admissions,
programs, and scholarships? ......................................
2
Yes
 
3
Has the organization publicized its racially nondiscriminatory policy through newspaper or broadcast media during
the period of solicitation for students, or during the registration period if it has no solicitation program, in a way
that makes the policy known to all parts of the general community it serves? If "Yes," please describe. If "No,"
please explain. If you need more space use Part II. .............................
3
Yes
 
 
4
Does the organization maintain the following?
a
Records indicating the racial composition of the student body, faculty, and administrative staff? ..........
4a
Yes
 
b
Records documenting that scholarships and other financial assistance are awarded on a racially nondiscriminatory
basis? ...............................................
4b
Yes
 
c
Copies of all catalogues, brochures, announcements, and other written communications to the public dealing
with student admissions, programs, and scholarships? ...........................
4c
Yes
 
d
Copies of all material used by the organization or on its behalf to solicit contributions? ..............
4d
Yes
 
If you answered "No" to any of the above, please explain. If you need more space, use Part II.
 
5
Does the organization discriminate by race in any way with respect to:
a
Students' rights or privileges? .....................................
5a
 
No
b
Admissions policies? .........................................
5b
 
No
c
Employment of faculty or administrative staff? ..............................
5c
 
No
d
Scholarships or other financial assistance? ................................
5d
 
No
e
Educational policies? .........................................
5e
 
No
f
Use of facilities? ...........................................
5f
 
No
g
Athletic programs? ..........................................
5g
 
No
h
Other extracurricular activities? .....................................
5h
 
No
If you answered "Yes" to any of the above, please explain. If you need more space, use Part II.
 
6a
Does the organization receive any financial aid or assistance from a governmental agency? ...........
6a
Yes
 
b
Has the organization's right to such aid ever been revoked or suspended? ...................
6b
 
No
If you answered "Yes" to either line 6a or line 6b, explain on Part II.
7
Does the organization certify that it has complied with the applicable requirements of sections 4.01 through 4.05
of Rev. Proc. 75-50, 1975-2 C.B. 587, covering racial nondiscrimination? If "No," explain on Part II.
7
Yes
 
Paperwork Reduction Act Notice, see the Instructions for Form 990 or Form 990-EZ.
Cat. No. 50085D
Schedule E (Form 990 or 990-EZ) 2013
Schedule E (Form 990 or 990EZ) 2013
Page 2
Part II
Supplemental Information. Provide the explanations required by Part I, lines 3, 4d, 5h, 6b, and 7, as applicable. Also complete this part to provide any other additional information (see instructions).
Return Reference Explanation
RACIAL NONDISCRIMINATORY POLICY PUBLICATION- FORM 990, SCHEDULE E, LINE 3 THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA (THE UNIVERSITY) PUBLISHES ITS RACIALLY NON-DISCRIMINATORY POLICY IN THE STUDENT CATALOGUE, ON ITS FINANCIAL AID APPLICATIONS AND IN OTHER BROCHURES WHICH DESCRIBE THE UNIVERSITY OF PENNSYLVANIA, ITS SCHOOLS, CENTERS, AND INSTITUTES. --------------------
FINANCIAL AID/ASSISTANCE FROM GOV'T AGENCY- FORM 990, SCHEDULE E, LINE 6A THE UNIVERSITY IS A PRIVATE NON-PROFIT INSTITUTION THAT RECEIVES DIRECT ANNUAL NON-PREFERRED APPROPRIATIONS FROM THE COMMONWEALTH OF PENNSYLVANIA. THE UNIVERSITY AlSO RECEIVES VARIOUS GOVERNMENTAL FUNDING WHICH SUPPORTS ITS EDUCATIONAL, PATIENT CARE, AND RESEARCH MISSIONS.
Schedule E (Form 990 or 990-EZ) 2013
Additional Data


Software ID:  
Software Version:  
SCHEDULE F(Form 990)
Department of the Treasury
Internal Revenue Service
Statement of Activities Outside the United States
Right pointing arrow large image Complete if the organization answered "Yes" to Form 990,Part IV, line 14b, 15, or 16.Right pointing arrow large image Attach to Form 990. Right pointing arrow large image See separate instructions.Right pointing arrow large image Information about Schedule F (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public Inspection
Name of the organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
 
Employer identification number

23-1352685
Part I
General Information on Activities Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 14b.
1
For grantmakers.Does the organization maintain records to substantiate the amount of its grants and
other assistance, the grantees’ eligibility for the grants or assistance, and the selection criteria used
to award the grants or assistance? ...............................
2
For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of its grants and other assistance outside the United States.
3
Activites per Region. (The following Part I, line 3 table can be duplicated if additional space is needed.)
(a) Region (b) Number of offices in the region (c) Number of employees, agents, and independent contractors in region (d) Activities conducted in region (by type) (e.g., fundraising, program services, investments, grants to recipients located in the region) (e) If activity listed in (d) is a program service, describe specific type of
service(s) in region		 (f) Total expenditures
for and investments
in region
Central America and the Caribbean 0 9 Send agents to seminar   83,261
Central America and the Caribbean 0 1 Conduct board meetings   7,935
Central America and the Caribbean 0 5 Fundraising   50,669
Central America and the Caribbean 0 43 Program Services education & training 168,197
Central America and the Caribbean 0 3 Program Services field research 11,329
Central America and the Caribbean 0 1 Program Services social research 17,242
Central America and the Caribbean 0 0 Program Services study abroad/education 27,356
Central America and the Caribbean 0 0 Program Services study abroad/research 14,544
Central America and the Caribbean 0 0 Program Services recruiting 3,634
Central America and the Caribbean 0 0 Investments   1,262,901,209
East Asia and the Pacific 0 227 Send agents to seminar   1,328,499
East Asia and the Pacific 0 0 Conduct board meetings   24,689
East Asia and the Pacific 0 27 Fundraising   935,101
East Asia and the Pacific 0 3 Program Services clinical trials 3,653
East Asia and the Pacific 0 49 Program Services education & training 2,413,741
East Asia and the Pacific 0 44 Program Services field research 625,481
East Asia and the Pacific 0 17 Program Services social research 54,034
East Asia and the Pacific 1 8 Program Services study abroad/education 1,284,143
East Asia and the Pacific 0 0 Program Services study abroad/research 141,828
East Asia and the Pacific 0 19 Program Services recruiting 378,056
East Asia and the Pacific 0 0 Investments   179,146,491
Europe (Including Iceland and Greenland) 0 432 Send agents to seminar   2,227,713
Europe (Including Iceland and Greenland) 0 1 Conduct board meetings   74,513
Europe (Including Iceland and Greenland) 0 61 Fundraising   1,448,994
Europe (Including Iceland and Greenland) 0 3 Program Services clinical trials 14,042
Europe (Including Iceland and Greenland) 0 52 Program Services education & training 2,568,972
Europe (Including Iceland and Greenland) 0 246 Program Services field research 3,327,816
Europe (Including Iceland and Greenland) 0 6 Program Services social research 799,102
Europe (Including Iceland and Greenland) 1 17 Program Services study abroad/education 4,631,631
Europe (Including Iceland and Greenland) 0 5 Program Services study abroad/research 159,020
Europe (Including Iceland and Greenland) 0 7 Program Services recruiting 86,889
Europe (Including Iceland and Greenland) 0 0 Investments   126,965,451
Middle East and North Africa 0 8 Send agents to seminar   67,768
Middle East and North Africa 0 3 Fundraising   33,933
Middle East and North Africa 0 12 Program Services education & training 506,230
Middle East and North Africa 1 12 Program Services field research 103,945
Middle East and North Africa 0 10 Program Services social research 42,966
Middle East and North Africa 0 1 Program Services study abroad/education 309,167
Middle East and North Africa 0 0 Program Services study abroad/research 178,274
Middle East and North Africa 0 71 Program Services recruiting 39,032
North America 0 142 Send agents to seminar   280,826
North America 0 0 Conduct board meetings   836
North America 0 13 Fundraising   60,651
North America 0 3 Program Services clinical trials 435,109
North America 0 11 Program Services education & training 355,744
North America 0 20 Program Services field research 270,637
North America 0 2 Program Services social research 5,662
North America 0 1 Program Services study abroad/education 24,486
North America 0 0 Program Services study abroad/research 21,479
North America 0 1 Program Services recruiting 10,221
North America 0 0 Investments   240,398,378
Russia and the Newly Independent States 0 25 Send agents to seminar   8,089
Russia and the Newly Independent States 0 2 Program Services clinical trials 29,531
Russia and the Newly Independent States 0 6 Program Services education & trianing 204,578
Russia and the Newly Independent States 0 10 Program Services field research 161,214
Russia and the Newly Independent States 0 0 Program Services study abroad/education 325,242
Russia and the Newly Independent States 0 0 Program Services study abroad/research 40,542
Russia and the Newly Independent States 0 0 Program Services recruiting 8,220
South America 0 79 Send agents to seminar   71,323
South America 0 2 Fundraising   14,285
South America 0 12 Program Services education & training 1,351,685
South America 0 23 Program Services field research 481,118
South America 0 4 Program Services social research 9,065
South America 0 1 Program Services study abroad/education 1,354,698
South America 0 0 Program Services study abroad/research 114,704
South America 0 1 Program Services recruiting 45,908
South Asia 0 49 Send agents to seminar   43,412
South Asia 0 0 Conduct board meetings   5,318
South Asia 0 5 Fundraising   111,529
South Asia 0 12 Program Services education & training 634,529
South Asia 0 14 Program Services field research 98,695
South Asia 0 1 Program Services social research 91,590
South Asia 0 3 Program Services study abroad/education 247,801
South Asia 0 0 Program Services study abroad/research 24,393
South Asia 0 0 Program Services recruiting 22,922
Sub-Saharan Africa 0 5 Send agents to seminar   39,460
Sub-Saharan Africa 0 0 Conduct board meetings   712
Sub-Saharan Africa 0 56 Program Services education & training 320,972
Sub-Saharan Africa 0 120 Program Services field research 2,836,990
Sub-Saharan Africa 0 5 Program Services social research 178,494
Sub-Saharan Africa 0 1 Program Services study abroad/education 595,128
Sub-Saharan Africa 0 0 Program Services study abroad/research 153,612
Sub-Saharan Africa 0 1 Program Services recruiting 55,084
3a Sub-total ..... 0 429 1,268,670,574
b Total from continuation sheets to Part I ... 3 1,604 576,080,848
c Totals (add lines 3a and 3b) 3 2,033 1,844,751,422
For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2013
Schedule F (Form 990) 2013
Page 2
Part II
Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 15, for any recipient who received more than $5,000. Part II can be duplicated if additional space is needed.
1 (a) Name of organization (b) IRS code section
and EIN (if applicable)		 (c) Region (d) Purpose of
grant 		(e) Amount of
cash grant 		(f) Manner of
cash
disbursement 		(g) Amount
of non-cash
assistance 		(h) Description
of non-cash
assistance 		(i) Method of
valuation
(book, FMV,
appraisal, other)
Europe (Including Iceland and Greenland) PERFORMANCE SUPPORT 20,000 CHECK   N/A N/A
North America CGCS IRAN MEDIA PROGRAM 106,800 WIRE   N/A N/A
Europe (Including Iceland and Greenland) RESEARCH 23,002 WIRE   N/A N/A
Europe (Including Iceland and Greenland) MEDIA LITERACY CLINCS/WORKSHOPS 40,000 WIRE   N/A N/A
North America   14,092 WIRE   N/A N/A
Middle East and North Africa PROJECT EVALUATION 48,800 WIRE   N/A N/A
Europe (Including Iceland and Greenland) STUDY ABROAD 96,808 WIRE   N/A N/A
Europe (Including Iceland and Greenland) study abroad 34,384 wire   N/A N/A
North America STUDY ABROAD 7,016 WIRE   N/A N/A
Europe (Including Iceland and Greenland) ARCHITECTURAL DESIGN 71,560 WIRE   N/A N/A
Europe (Including Iceland and Greenland) STUDY ABROAD 7,069 WIRE   N/A N/A
Europe (Including Iceland and Greenland) RESEARCH 8,490 WIRE   N/A N/A
Europe (Including Iceland and Greenland) FUNDRAISING 44,222 FORGN DRAFT   N/A N/A
Europe (Including Iceland and Greenland) FUNDRAISING 14,208 FORFN DRAFT   N/A N/A
Europe (Including Iceland and Greenland) FUNDRAISING 33,141 FORGN DRAFT   N/A N/A
Europe (Including Iceland and Greenland) FUNDRAISING 31,583 FORGN DRAFT   N/A N/A
Europe (Including Iceland and Greenland) FUNDRAISING 6,330 FORGN DRAFT   N/A N/A
Europe (Including Iceland and Greenland) LEGAL SRVC FEES 5,681 FORGN DRAFT   N/A N/A
Europe (Including Iceland and Greenland)   6,163 FORGN DRAFT   N/A N/A
Europe (Including Iceland and Greenland) ADMINISTRATION FEES 8,631 FORGN DRAFT   N/A N/A
Europe (Including Iceland and Greenland) ACCTG SRVC FEES 7,395 FORGN DRAFT   N/A N/A
Europe (Including Iceland and Greenland) WORKSHOP AND CATERING SRVCS 23,348 CHECK   N/A N/A
Europe (Including Iceland and Greenland) RESEARCH 18,449 WIRE   N/A N/A
South Asia RESEARCH 5,829 WIRE   N/A N/A
East Asia and the Pacific   70,206 WIRE   N/A N/A
East Asia and the Pacific   15,420 WIRE   N/A N/A
Sub-Saharan Africa RESEARCH 8,468 WIRE   N/A N/A
Europe (Including Iceland and Greenland) RESEARCH 7,000 WIRE   N/A N/A
Middle East and North Africa RESEARCH 39,310 WIRE   N/A N/A
North America SOFTWARE/LICENSES 33,474 WIRE   N/A N/A
Europe (Including Iceland and Greenland)   148,899 WIRE   N/A N/A
Middle East and North Africa   11,340 WIRE   N/A N/A
East Asia and the Pacific   8,000 CHECK   N/A N/A
East Asia and the Pacific   15,700 CHECK   N/A N/A
East Asia and the Pacific STUDY ABROAD/RECRUITING 43,191 CHECK   N/A N/A
East Asia and the Pacific   27,144 CHECK   N/A N/A
East Asia and the Pacific STUDY ABROAD/RECRUITING 88,238 CHECK   N/A N/A
East Asia and the Pacific RECRUITING 16,726 CHECK   N/A N/A
Europe (Including Iceland and Greenland) STUDY ABROAD/TRAINING 100,678 CHECK   N/A N/A
Europe (Including Iceland and Greenland) RESEARCH 19,398 CHECK   N/A N/A
Europe (Including Iceland and Greenland) STUDY ABROAD 103,546 CHECK   N/A N/A
Europe (Including Iceland and Greenland) RESEARCH/TRAINING 79,984 CHECK   N/A N/A
Middle East and North Africa STUDY ABROAD 5,045 CHECK   N/A N/A
Middle East and North Africa RESEARCH/TRAINING 11,328 CHECK   N/A N/A
Middle East and North Africa RESEARCH 44,775 CHECK   N/A N/A
North America RESEARCH 118,810 CHECK   N/A N/A
South America STUDY ABROAD 31,019 CHECK   N/A N/A
South America RECRUITING 6,551 CHECK   N/A N/A
South Asia   77,362 CHECK   N/A N/A
Sub-Saharan Africa RESEARCH 6,000 CHECK   N/A N/A
Sub-Saharan Africa RESEARCH 69,808 CHECK   N/A N/A
Sub-Saharan Africa RESEARCH 53,700 CHECK   N/A N/A
East Asia and the Pacific STUDY ABROAD/EDUCATION 16,629 WIRE   N/A N/A
Sub-Saharan Africa STUDY ABROAD/RESEARCH 35,552 WIRE   N/A N/A
Sub-Saharan Africa STUDY ABROAD/EDUCATION 39,970 WIRE   N/A N/A
Europe (Including Iceland and Greenland)   530,296 WIRE   N/A N/A
North America RESEARCH 5,640 CHECK   N/A N/A
Europe (Including Iceland and Greenland) RESEARCH 28,315 CHECK   N/A N/A
East Asia and the Pacific RESEARCH 111,331 CHECK   N/A N/A
Europe (Including Iceland and Greenland) RESEARCH 13,633 WIRE   N/A N/A
Europe (Including Iceland and Greenland) RESEARCH 14,641 WIRE   N/A N/A
Europe (Including Iceland and Greenland) RESEARCH 5,762 WIRE   N/A N/A
Europe (Including Iceland and Greenland)   11,200 WIRE   N/A N/A
Europe (Including Iceland and Greenland) RESEARCH 5,300 WIRE   N/A N/A
Europe (Including Iceland and Greenland) RESEARCH 52,122 WIRE   N/A N/A
East Asia and the Pacific RESEARCH 13,100 CHECK   N/A N/A
Europe (Including Iceland and Greenland) CONSULTANT FOR MARKETING 12,500 WIRE   N/A N/A
Russia and the Newly Independent States STUDY ABROAD 46,133 WIRE   N/A N/A
Europe (Including Iceland and Greenland) GLOBAL FORUM 490,118 CHECK/WIRE   N/A N/A
South America WHARTON GIP 8,870 WIRE   N/A N/A
East Asia and the Pacific WRITING, COMMISSION/CONSULTING 503,923 CHECK/WIRE   N/A N/A
South America SUMMER IMMERSION 22,655 WIRE   N/A N/A
South America WHARTON GIP 81,802 WIRE   N/A N/A
Europe (Including Iceland and Greenland) GLOBAL FORUM 6,227 CHECK   N/A N/A
East Asia and the Pacific SUMMER IMMERSION 13,970 WIRE   N/A N/A
East Asia and the Pacific OFC BUILDOUT 11,021 CHECK   N/A N/A
Europe (Including Iceland and Greenland) CONSULTING FOR MARKETING 21,812 WIRE   N/A N/A
Europe (Including Iceland and Greenland) TRANSLATION FOR noah PROGRAM 20,335 WIRE   N/A N/A
Middle East and North Africa LANGUAGE STUDY 10,498 WIRE   N/A N/A
Middle East and North Africa SUMMER IMMERSION 9,000 WIRE   N/A N/A
Middle East and North Africa CERT PROGRAM OFFICE 28,676 CHECK   N/A N/A
Europe (Including Iceland and Greenland) SUMMER IMMERSION 12,049 WIRE   N/A N/A
Europe (Including Iceland and Greenland) CONSULTING FOR MARKETING PROGRAMS 15,200 WIRE   N/A N/A
East Asia and the Pacific SUMMER IMMERSION 41,343 WIRE   N/A N/A
Europe (Including Iceland and Greenland) RESEARCH 8,600 CHECK   N/A N/A
Sub-Saharan Africa gcp PROJECTS 5,015 CHECK   N/A N/A
Europe (Including Iceland and Greenland) EUROPEAN MARKETS CONFERENCE 5,472 CHECK   N/A N/A
East Asia and the Pacific LEGAL FEES, TRADEMARK FEES 30,353 CHECK   N/A N/A
North America SCHOOL, SOFTWARE SIMULATION 104,946 CHECK/WIRE   N/A N/A
Middle East and North Africa Payment for Outside Faculty for OE and Custom Programs 220,917 WIRE   N/A N/A
East Asia and the Pacific GCP PROJECTS 13,775 CHECK   N/A N/A
East Asia and the Pacific LIFELONG LEARNING EVENT 41,689 WIRE   N/A N/A
Middle East and North Africa CERT PROGRAM/INTERNATIONAL PROGRAMS 6,821 CHECK   N/A N/A
Europe (Including Iceland and Greenland) CONSULTING FOR MARKETING PROGRAMS 27,583 WIRE   N/A N/A
Europe (Including Iceland and Greenland) GERMAN SUMMER IMMERSION 26,830 WIRE   N/A N/A
Europe (Including Iceland and Greenland) DATA PURCHASE 14,642 WIRE   N/A N/A
East Asia and the Pacific LIFELONG LEARNING EVENT 17,232 WIRE   N/A N/A
East Asia and the Pacific GLOBAL FORUM 295,983 CHECK   N/A N/A
South Asia DATA 9,882 WIRE   N/A N/A
Europe (Including Iceland and Greenland) insead conference 331,261 CHECK/WIRE   N/A N/A
South America SUMMER IMMERSION 18,280 WIRE   N/A N/A
Sub-Saharan Africa GLOBAL MODULAR COURSE 54,058 WIRE   N/A N/A
Middle East and North Africa GCP PROJECTS 64,383 CHECK   N/A N/A
Europe (Including Iceland and Greenland) WHARTON LEADERSHIP UNDERGRAD VENTURE 26,207 WIRE   N/A N/A
East Asia and the Pacific WHARTON GLOBAL FORUM 46,903 WIRE   N/A N/A
East Asia and the Pacific SUMMER IMMERSION 30,313 WIRE   N/A N/A
North America SOFTWARE, SIMULATION 6,245 CHECK   N/A N/A
Central America and the Caribbean GLOBAL FOROM 24,243 CHECK/WIRE   N/A N/A
North America DATA PURCHASE 17,700 CHECK   N/A N/A
Europe (Including Iceland and Greenland) EVONIK PROGRAM 67,590 WIRE   N/A N/A
East Asia and the Pacific GLOBAL FORUM 183,662 CHECK/WIRE   N/A N/A
East Asia and the Pacific GLOBAL FORUM 551,722 CHECK/WIRE   N/A N/A
North America PAYMENT FOR OUTSIDE FACULTY 17,620 WIRE   N/A N/A
South America SUMMER IMMERSION 11,370 WIRE   N/A N/A
Europe (Including Iceland and Greenland) MANAGEMENT, PARTICIPANT DATA 54,662 WIRE   N/A N/A
East Asia and the Pacific FACULT INTERNATIONAL SEMINAR 8,522 WIRE   N/A N/A
East Asia and the Pacific BLDG ARCHITECT 12,846 CHECK   N/A N/A
Middle East and North Africa   5,852 CHECK   N/A N/A
Middle East and North Africa OE PARTICIPANT REFUND 17,700 WIRE   N/A N/A
South Asia WHARTON GIP 76,472 WIRE   N/A N/A
East Asia and the Pacific LIFELONG LEARNING 10,315 CHECK   N/A N/A
Europe (Including Iceland and Greenland) WHARTON GLOBAL FORUM PARIS 45,580 WIRE   N/A N/A
Europe (Including Iceland and Greenland) DATA PURCHASE 27,705 WIRE   N/A N/A
East Asia and the Pacific GLOBAL MODULAR COURSE 5,600 WIRE   N/A N/A
South Asia LIFELONG LEARNING EVENT 5,931 WIRE   N/A N/A
South Asia CONSULTANTS FOR PROGRAM WORK 15,000 WIRE   N/A N/A
Europe (Including Iceland and Greenland) CONSULTANTS FOR MARKETING 35,740 WIRE   N/A N/A
East Asia and the Pacific REFUND OF 2 SAC PROGRAM ATTENDESS FEES 72,000 CHECK   N/A N/A
South America SUMMER IMMERSION 51,822 WIRE   N/A N/A
South America SUMMER IMMERSION 30,358 WIRE   N/A N/A
East Asia and the Pacific RELOCATION FOR NEW DEAL 41,347 WIRE   N/A N/A
South America OE PARTICIPANT REFUND 8,730 WIRE   N/A N/A
South America LEADERSHIP PROGRAM 503,738 WIRE   N/A N/A
Europe (Including Iceland and Greenland) PAYMENT FOR OUTSIDE FACULTY 10,065 WIRE   N/A N/A
Europe (Including Iceland and Greenland) PAYMENT FOR OUTSIDE FACULTY 40,271 WIRE   N/A N/A
North America WEB DEVELOPMENT 6,713 CHECK   N/A N/A
Sub-Saharan Africa TAXES 250,598 CHECK   N/A N/A
Sub-Saharan Africa   156,033 CHECK   N/A N/A
Sub-Saharan Africa HEALTH INSURANCE 69,477 CHECK   N/A N/A
Sub-Saharan Africa PROPERTY MGMT 55,594 CHECK   N/A N/A
Sub-Saharan Africa TRAVEL AGENTS 28,012 CHECK   N/A N/A
Sub-Saharan Africa PROPERTY MGMT 22,172 CHECK   N/A N/A
Sub-Saharan Africa HEALTH INSURANCE 19,655 CHECK   N/A N/A
Sub-Saharan Africa RESEARCH SUPPORT 19,175 CHECK   N/A N/A
Sub-Saharan Africa WIRELESS PROVIDER 18,811 CHECK   N/A N/A
Sub-Saharan Africa TUITION, FEES 16,869 CHECK   N/A N/A
Sub-Saharan Africa FUEL STATOIN 15,573 CHECK   N/A N/A
Sub-Saharan Africa PROPERTY MGMT 13,573 CHECK   N/A N/A
Sub-Saharan Africa TELECOMMUNICATIONS 12,852 CHECK   N/A N/A
Sub-Saharan Africa SHIPPING/HANDILING 11,731 CHECK   N/A N/A
Sub-Saharan Africa OFFICE SUPPLIES 9,834 CHECK   N/A N/A
Sub-Saharan Africa TELECOMMUNICATIONS 9,751 CHECK   N/A N/A
Sub-Saharan Africa TELECOMMUNICATIONS 9,631 CHECK   N/A N/A
Sub-Saharan Africa MEDICAL LABS 9,502 CHECK   N/A N/A
Sub-Saharan Africa LAB SUPPLIES 8,439 CHECK   N/A N/A
Sub-Saharan Africa   7,501 CHECK   N/A N/A
Sub-Saharan Africa BANKING 7,478 CHECK   N/A N/A
Sub-Saharan Africa PRINTING SERVICES 7,375 CHECK   N/A N/A
Sub-Saharan Africa CONFERENCE/EVENTS SERVICES 7,313 CHECK   N/A N/A
Sub-Saharan Africa   6,708 CHECK   N/A N/A
Sub-Saharan Africa TRAVEL AGENTS 6,681 CHECK   N/A N/A
Sub-Saharan Africa LAB SUPPLIES 6,635 CHECK   N/A N/A
Sub-Saharan Africa LAB EQUIPMENT 6,312 CHECK   N/A N/A
Sub-Saharan Africa LAB SUPPLIES 6,036 CHECK   N/A N/A
Sub-Saharan Africa TELECOMMUNICATIONS 6,015 CHECK   N/A N/A
Sub-Saharan Africa COMPUTER SUPPLIES 5,340 CHECK   N/A N/A
East Asia and the Pacific EQUIPMENT PURCHASE 7,355 WIRE   N/A N/A
East Asia and the Pacific CLINICAL TRIAL 6,543 WIRE   N/A N/A
Europe (Including Iceland and Greenland) STABILITY TESTING 20,512 WIRE   N/A N/A
Europe (Including Iceland and Greenland) RESEARCH SUPPLIES 5,345 CHECK   N/A N/A
Middle East and North Africa airline tickets 24,273 CHECK   n/a n/a
North America   7,600 CHECK   N/A N/A
Europe (Including Iceland and Greenland)   85,000 CHECK   N/A N/A
East Asia and the Pacific research lab supplies 5,371 CHECK   N/A N/A
North America membership 7,285 CHECK   N/A N/A
East Asia and the Pacific   59,248 CHECK   N/A N/A
North America CLINICAL TRIALS 47,000 CHECK   N/A N/A
Europe (Including Iceland and Greenland) research 12,818 CHECK   N/A N/A
Europe (Including Iceland and Greenland)   246,001 CHECK   N/A N/A
East Asia and the Pacific RESEARCH/LABORATORY 80,850 WIRE   N/A N/A
South Asia field research 22,216 WIRE   N/A N/A
North America research, laboratory 74,217 CHECK   N/A N/A
North America   41,568 CHECK   N/A N/A
South Asia field research 6,400 wire   N/A N/A
East Asia and the Pacific RESEARCH LABORATORY 5,500 CHECK   N/A N/A
Europe (Including Iceland and Greenland)   45,776 CHECK   N/A N/A
North America   98,000 CHECK   N/A N/A
2 Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter ....MediumBullet
17
3
Enter total number of other organizations or entities .......................MediumBullet
178
Schedule F (Form 990) 2013
Schedule F (Form 990) 2013Page 3
Part III
Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 16.
Part III can be duplicated if additional space is needed.
(a) Type of grant or assistance (b) Region (c) Number of recipients (d) Amount of
cash grant 		(e) Manner of cash
disbursement 		(f) Amount of
non-cash
assistance 		(g) Description
of non-cash
assistance 		(h) Method of
valuation
(book, FMV,
appraisal, other)
STUDENT SUPPORT South America 1 5,000 WIRE   N/A N/A
CONSULTING Europe (Including Iceland and Greenland) 1 5,000 WIRE   N/A N/A
CONSULTING Europe (Including Iceland and Greenland) 1 10,000 WIRE   N/A N/A
STUDENT SUPPORT Europe (Including Iceland and Greenland) 1 8,300 WIRE   N/A N/A
STUDENT SUPPORT Europe (Including Iceland and Greenland) 1 9,834 WIRE   N/A N/A
MANAGEMENT OF UK TRUST Europe (Including Iceland and Greenland) 1 10,528 FORGN DRAFT   N/A N/A
STUDENT SUPPORT Europe (Including Iceland and Greenland) 1 54,114 WIRE   N/A N/A
STUDENT SUPPORT North America 1 5,844 WIRE   N/A N/A
RESEARCH Middle East and North Africa 1 61,000 WIRE   N/A N/A
RESEARCH Europe (Including Iceland and Greenland) 1 8,517 WIRE   N/A N/A
RESEARCH Europe (Including Iceland and Greenland) 1 12,000 WIRE   n/a N/A
RESEARCH East Asia and the Pacific 1 7,680 CHECK   N/A N/A
RESEARCH Central America and the Caribbean 1 25,200 CHECK   N/A N/A
RESEARCH South America 1 6,000 CHECK   N/A N/A
RESEARCH North America 2 18,670 CHECK   N/A N/A
RESEARCH Middle East and North Africa 1 28,493 CHECK   N/A N/A
STUDENT SUPPORT Europe (Including Iceland and Greenland) 1 7,150 CHECK   N/A N/A
RESEARCH South America 1 26,119 CHECK   N/A N/A
RESEARCH Europe (Including Iceland and Greenland) 1 8,041 CHECK   N/A N/A
RESEARCH North America 1 35,000 CHECK   N/A N/A
RESEARCH Europe (Including Iceland and Greenland) 1 12,600 CHECK   N/A N/A
RESEARCH Europe (Including Iceland and Greenland) 1 7,000 CHECK   N/A N/A
STUDENT SUPPORT East Asia and the Pacific 1 5,500 CHECK   N/A N/A
RESEARCH Sub-Saharan Africa 1 6,114 CHECK   N/A N/A
RESEARCH/GUEST SPEAKERS Europe (Including Iceland and Greenland) 6 46,928 CHECK   N/A N/A
EDUCATION & TRAINING Middle East and North Africa 1 10,000 CHECK   N/A N/A
EDUCATION & TRAINING Europe (Including Iceland and Greenland) 1 17,609 CHECK   N/A N/A
SUPPORT Sub-Saharan Africa 1 6,500 WIRE   N/A N/A
PRESENTATION AT REVIEW PANEL Europe (Including Iceland and Greenland) 1 8,045 WIRE   N/A N/A
PAYMENT FOR OUTSIDE FACULTY Middle East and North Africa 1 5,000 WIRE   N/A N/A
PRESENTATION ON STAT991 Europe (Including Iceland and Greenland) 1 15,000 WIRE   N/A N/A
ADMISSION APPLICATIONS Europe (Including Iceland and Greenland) 1 8,415 WIRE   N/A N/A
WRITING Europe (Including Iceland and Greenland) 1 5,100 WIRE   N/A N/A
               
BUSINESS DEVELOPMENT East Asia and the Pacific 1 12,002 WIRE   N/A N/A
WRITING Europe (Including Iceland and Greenland) 1 15,000 WIRE   N/A N/A
AXA PROGRAM Europe (Including Iceland and Greenland) 1 2,525 WIRE   N/A N/A
TRANSLATIONS South America 1 19,608 WIRE   N/A N/A
PRESENTATION ON STAT991 Middle East and North Africa 1 16,289 WIRE   N/A N/A
WRITING South Asia 1 39,828 WIRE   n/a n/a
WRITING East Asia and the Pacific 1 7,700 WIRE   N/A N/A
WRITING South Asia 1 93,300 WIRE   N/A N/A
GIFT Europe (Including Iceland and Greenland) 1 13,028 WIRE   N/A N/A
SUPPORT Europe (Including Iceland and Greenland) 1 11,500 WIRE   N/A N/A
TRAVEL EXPENSES East Asia and the Pacific 1 6,163 WIRE   N/A N/A
SALARY AND EMPLOYEE BENEFITS East Asia and the Pacific 0 1,614,701 WIRE   N/A N/A
WRITING Middle East and North Africa 1 5,000 WIRE   n/a n/a
CONSULTING Europe (Including Iceland and Greenland) 1 15,000 WIRE   N/A N/A
honorarium North America 1 252 WIRE   N/A N/A
Schedule F (Form 990) 2013
Schedule F (Form 990) 2013
Page 4
Part IV
Foreign Forms
1 Was the organization a U.S. transferor of property to a foreign corporation during the tax year? If "Yes,"the organization may be required to file Form 926, Return by a U.S. Transferor of Property to a Foreign Corporation (see Instructions for Form 926)......................................
2 Did the organization have an interest in a foreign trust during the tax year? If "Yes," the organization may be required to file Form 3520, Annual Return to Report Transactions with Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Return of Foreign Trust With a U.S. Owner (see Instructions for Forms 3520 and 3520-A).......................................
3 Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations. (see Instructions for Form 5471)..............................
4 Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If “Yes,” the organization may be required to file Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see Instructions for Form 8621)...............................................
5 Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with Respect to Certain Foreign Partnerships. (see Instructions for Form 8865)....................................
6 Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to file Form 5713, International Boycott Report (see Instructions for Form 5713)................................................
Schedule F (Form 990) 2013
Schedule F (Form 990) 2013
Page 5
Part V
Supplemental Information
Provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information (see instructions).
ReturnReference Explanation
FORM 990, SCHEDULE F, PART I, LINE 2 THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA OFFICE OF RESEARCH SERVICES IS RESPONSIBLE FOR MONITORING THE USE OF GRANT FUNDS PURSUANT TO ESTABLISHED POLICES AND PROTOCOL. THESE POLICIES COVER GRANTS MADE BOTH WITHIN AND OUTSIDE THE U.S. --------------------
SUBAWARDS- FORM 990, SCHEDULE F, PART II IN FURTHERANCE OF ITS RESEARCH ACTIVITIES, THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA MAKES SUB-AWARDS TO FOREIGN INSTITUTIONS THAT PERFORM RESEARCH IN CONNECTION WITH RESEARCH GRANTS AWARDED TO THE UNIVERSITY. THE UNIVERSITY DOES NOT CATEGORIZE THESE SUB-AWARDS AS "FOREIGN ACTIVITIES" FOR FORM 990, SCHEDULE F REPORTING PURPOSES, SINCE THE FOREIGN RECIPIENT ORGANIZATIONS PERFORM RESEARCH SERVICES FOR THE UNIVERSITY AND ARE CONSIDERED INDEPENDENT CONTRACTORS WHICH SERVE THE DIRECT NEEDS OF THE UNIVERSITY.
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
Schedule F (Form 990) 2013
Additional Data


Software ID:  
Software Version:  



SCHEDULE G (Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Supplemental Information Regarding
Fundraising or Gaming Activities
Complete if the organization answered "Yes" to Form 990, Part IV, lines 17, 18, or 19, or if the organization entered more than $15,000 on Form 990-EZ, line 6a. right arrowAttach to Form 990 or Form 990-EZ. right arrowSee separate instructions.
right arrowInformation about Schedule G (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public Inspection
Name of the organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
 
Employer identification number

23-1352685
Part I
Fundraising Activities. Complete if the organization answered "Yes" to Form 990, Part IV, line 17.
Form 990-EZ filers are not required to complete this part.
1
Indicate whether the organization raised funds through any of the following activities. Check all that apply.
a e
b f
c g
d
2a
Did the organization have a written or oral agreement with any individual (including officers, directors, trustees
or key employees listed in Form 990, Part VII) or entity in connection with professional fundraising services?
b
If "Yes," list the ten highest paid individuals or entities (fundraisers) pursuant to agreements under which the fundraiser is
to be compensated at least $5,000 by the organization.
(i) Name and address of individual
or entity (fundraiser) 		(ii) Activity (iii) Did fundraiser have custody or control of contributions? (iv) Gross receipts
from activity 		(v) Amount paid to
(or retained by)
fundraiser listed in
col. (i) 		(vi) Amount paid to
(or retained by)
organization
Yes No
RUFFALOCODY
65 KIRKWOOD NORTH ROAD SW
 
CEDAR RAPIDS, IA52404 		MANAGE CALL CENTERS   No 2,369,338 666,713 1,702,625
             
             
             
             
             
             
             
             
             
Total .................right arrow 2,369,338 666,713 1,702,625
3
List all states in which the organization is registered or licensed to solicit contributions or has been notified it is exempt from registration or licensing.
AL, AK, AZ, AR, CA, CO, CT, DE, DC, FL, GA, HI, ID, IL, IN, IA, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, MT, NE, NV, NH, NJ, NM, NY, NC, ND, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VT, VA, WA, WV, WI, WY
For Paperwork Reduction Act Notice, see the Instructions for Form 990or 990-EZ.
Cat. No. 50083H
Schedule G (Form 990 or 990-EZ) 2013
Schedule G (Form 990 or 990-EZ) 2013
Page 2
Part II
Fundraising Events. Complete if the organization answered "Yes" to Form 990, Part IV, line 18, or reported more than $15,000 of fundraising event contributions and gross income on Form 990-EZ, lines 1 and 6b. List events with gross receipts greater than $5,000.
(a) Event #1

MOONLIGHT&ROSES
(event type) 		(b) Event #2

ICELAND TRIP
(event type) 		(c) Other events

5
(total number) 		(d) Total events
(add col. (a) through col. (c))
VerticalRevenue 1 Gross receipts . . . 213,949 38,466 61,703 314,118
2 Less: Contributions . . 165,785 38,466 57,980 262,231
3 Gross income (line 1
minus line 2) . . . 		48,164   3,723 51,887
VerticalDirectExpenses 4 Cash prizes . . . 0 0 0 0
5 Noncash prizes . . 0 0 0 0
6 Rent/facility costs . . 0 0 0 0
7 Food and beverages . 0 0 0 0
8 Entertainment . . . 0 0 0 0
9 Other direct expenses . 130,287 0 22,805 153,092
10 Direct expense summary. Add lines 4 through 9 in column (d) ........... right arrow 153,092
11 Net income summary. Subtract line 10 from line 3, column (d)........... right arrow -101,205
Part III
Gaming. Complete if the organization answered "Yes" to Form 990, Part IV, line 19, or reported more than $15,000 on Form 990-EZ, line 6a.
VerticalRevenue (a) Bingo (b) Pull tabs/Instant
bingo/progressive bingo 		(c) Other gaming (d) Total gaming (add col.(a) through col.(c))
1 Gross revenue . . . .        
VerticalDirectExpenses 2 Cash prizes . . . .        
3 Non-cash prizes . . .        
4 Rent/facility costs . . .        
5 Other direct expenses . .        
6 Volunteer labor . . .
%
%
%
7 Direct expense summary. Add lines 2 through 5 in column (d) ........... right arrow  
8 Net gaming income summary. Subtract line 7 from line 1, column (d) ......... right arrow  
9
Enter the state(s) in which the organization operates gaming activities:
a
Is the organization licensed to operate gaming activities in each of these states? ............
b
If "No," explain:
 
10a
Were any of the organization's gaming licenses revoked, suspended or terminated during the tax year? .....
b
If "Yes," explain:
 
Schedule G (Form 990 or 990-EZ) 2013
Schedule G (Form 990 or 990-EZ) 2013
Page 3
11
Does the organization operate gaming activities with nonmembers? .................
12
Is the organization a grantor, beneficiary or trustee of a trust or a member of a partnership or other entity
formed to administer charitable gaming? ..........................
13
Indicate the percentage of gaming activity operated in:
a
The organization's facility ......................
13a
%
b
An outside facility ........................
13b
%
14
Enter the name and address of the person who prepares the organization's gaming/special events books and records:
Name right arrow
Address right arrow
15a
Does the organization have a contract with a third party from whom the organization receives gaming
revenue? ......................................
b
If "Yes," enter the amount of gaming revenue received by the organization right arrow $   and the
amount of gaming revenue retained by the third party right arrow $   .
c
If "Yes," enter name and address of the third party:
Name right arrow
Address right arrow
 
 
16
Gaming manager information:
Name right arrow
Gaming manager compensation right arrow $  
Description of services provided right arrow
 
17
Mandatory distributions:
a
Is the organization required under state law to make charitable distributions from the gaming proceeds to
retain the state gaming license? ............................
b
Enter the amount of distributions required under state law distributed to other exempt organizations or spent
in the organization's own exempt activities during the tax year right arrow$  
Part IV
Supplemental Information. Provide the explanations required by Part I, line 2b, columns (iii) and (v), and Part III, lines 9, 9b, 10b, 15b, 15c, 16, and 17b, as applicable. Also complete this part to provide any additional information (see instructions).
Return Reference Explanation
Schedule G (Form 990 or 990-EZ) 2013
Additional Data


Software ID:  
Software Version:  
SCHEDULE H (Form 990)
Department of the Treasury
Internal Revenue Service
Hospitals
MediumBullet Complete if the organization answered "Yes" to Form 990, Part IV, question 20.
MediumBullet Attach to Form 990. MediumBullet See separate instructions.
MediumBullet Information about Schedule H (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public Inspection
Name of the organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
 
Employer identification number

23-1352685
Part I
Financial Assistance and Certain Other Community Benefits at Cost
Yes
No
1a
Did the organization have a financial assistance policy during the tax year? If "No," skip to question 6a ...
1a
Yes
 
b
If "Yes," was it a written policy? .......................
1b
Yes
 
2
If the organization had multiple hospital facilities, indicate which of the following best describes application of the financial assistance policy to its various hospital facilities during the tax year.
3
Answer the following based on the financial assistance eligibility criteria that applied to the largest number of the organization's patients during the tax year.
a
Did the organization use Federal Poverty Guidelines (FPG) as a factor in determining eligibility for providing free care?
If "Yes," indicate which of the following was the FPG family income limit for eligibility for free care:
3a
Yes
 
b
Did the organization use FPG as a factor in determining eligibility for providing discounted care? If "Yes," indicate
which of the following was the family income limit for eligibility for discounted care: .........
3b
Yes
 
%
c
If the organization used factors other than FPG in determining eligibility, describe in Part VI the income based criteria for determining eligibility for free or discounted care. Include in the description whether the organization used an asset test or other threshold, regardless of income, as a factor in determining eligibility for free or discounted care.
4
Did the organization's financial assistance policy that applied to the largest number of its patients during the tax year provide for free or discounted care to the "medically indigent"? ..............

4

Yes

 
5a
Did the organization budget amounts for free or discounted care provided under its financial assistance policy during the tax year? ............................

5a

 

No
b
If "Yes," did the organization's financial assistance expenses exceed the budgeted amount? ......
5b
 
 
c
If "Yes" to line 5b, as a result of budget considerations, was the organization unable to provide free or discountedcare to a patient who was eligibile for free or discounted care? ..............
5c
 
 
6a
Did the organization prepare a community benefit report during the tax year? ..........
6a
Yes
 
b
If "Yes," did the organization make it available to the public? ..............
6b
Yes
 
Complete the following table using the worksheets provided in the Schedule H instructions. Do not submit these worksheets with the Schedule H.
7
Financial Assistance and Certain Other Community Benefits at Cost
Financial Assistance and
Means-Tested
Government Programs
 (a) Number of activities or programs (optional) (b) Persons served (optional) (c) Total community benefit expense (d) Direct offsetting revenue (e) Net community benefit expense (f) Percent of total expense
a Financial Assistance at cost
(from Worksheet 1) .. 		  0 6,129,499 0 6,129,499 0.120 %
b Medicaid (from Worksheet 3,
column a) .... 		  0 316,893,570 247,378,143 69,515,427 1.340 %
c Costs of other means-tested
government programs (from
Worksheet 3, column b) . 		  0 0 0 0 0 %
d Total Financial Assistance
and Means-Tested
Government Programs . 		  0 323,023,069 247,378,143 75,644,926 1.460 %
Other Benefits
   0 0 0 0 0 %
e Community health
improvement services and
community benefit operations
(from Worksheet 4) ..
f Health professions education
(from Worksheet 5) .. 		  0 112,005,971 46,534,213 65,471,758 1.260 %
g Subsidized health services
(from Worksheet 6) .. 		  0 0 0 0 0 %
h Research (from Worksheet 7)   0 564,225,537 531,111,800 33,113,737 0.640 %
i Cash and in-kind
contributions for community
benefit (from Worksheet 8) 		  0 0 0 0 0 %
j Total. Other Benefits ..   0 676,231,508 577,646,013 98,585,495 1.900 %
k Total. Add lines 7d and 7j .   0 999,254,577 825,024,156 174,230,421 3.360 %
For Paperwork Reduction Act Notice, see the Instructions for Form 990. Cat. No. 50192T Schedule H (Form 990) 2013
Schedule H (Form 990) 2013
Page
Part II
Community Building Activities Complete this table if the organization conducted any community building activities during the tax year, and describe in Part VI how its community building activities promoted the health of the communities it serves.
(a) Number of activities or programs (optional) (b) Persons served (optional) (c) Total community building expense (d) Direct offsetting
revenue 		(e) Net community building expense (f) Percent of total expense
1 Physical improvements and housing            
2 Economic development            
3 Community support            
4 Environmental improvements            
5 Leadership development and training for community members            
6 Coalition building            
7 Community health improvement advocacy            
8 Workforce development            
9 Other            
10 Total            
Part III
Bad Debt, Medicare, & Collection Practices
Section A. Bad Debt Expense
Yes
No
1
Did the organization report bad debt expense in accordance with Heathcare Financial Management Association Statement No. 15? ..........................
1
Yes
 
2
Enter the amount of the organization's bad debt expense. Explain in Part VI the methodology used by the organization to estimate this amount. ......
2
141,284,326
3
Enter the estimated amount of the organization's bad debt expense attributable to patients eligible under the organization's financial assistance policy. Explain in Part VI the methodology used by the organization to estimate this amount and the rationale, if any, for including this portion of bad debt as community benefit. ......
3
100,835,702
4
Provide in Part VI the text of the footnote to the organization’s financial statements that describes bad debt expense or the page number on which this footnote is contained in the attached financial statements.
Section B. Medicare
5
Enter total revenue received from Medicare (including DSH and IME).....
5
447,411,107
6
Enter Medicare allowable costs of care relating to payments on line 5.....
6
438,431,107
7
Subtract line 6 from line 5. This is the surplus (or shortfall)........
7
8,980,000
8
Describe in Part VI the extent to which any shortfall reported in line 7 should be treated as community benefit.Also describe in Part VI the costing methodology or source used to determine the amount reported on line 6.Check the box that describes the method used:
Section C. Collection Practices
9a
Did the organization have a written debt collection policy during the tax year? ..........
9a
Yes
 
b
If "Yes," did the organization’s collection policy that applied to the largest number of its patients during the tax year contain provisions on the collection practices to be followed for patients who are known to qualify for financial assistance? Describe in Part VI.......................

9b

Yes

 
Part IV
Management Companies and Joint Ventures(owned 10% or more by officers, directors, trustees, key employees, and physicians—see instructions)
(a) Name of entity (b) Description of primary
activity of entity 		(c) Organization's
profit % or stock
ownership % 		(d) Officers, directors,
trustees, or key
employees' profit %
or stock ownership % 		(e) Physicians'
profit % or stock
ownership %
1
2
3
4
5
6
7
8
9
10
11
12
13
Schedule H (Form 990) 2013
Schedule H (Form 990) 2013
Page
Part VFacility Information
Section A. Hospital Facilities
(list in order of size from largest to smallest—see instructions)
How many hospital facilities did the organization operate during the tax year?1
Name, address, primary website address, and state license number 		Licensed Hospital General-Medical-Surgical Children's Hospital Teaching Hospital Critical Hospital ResearchGrp Facility ER-24Hours ER-Other Other (Describe) Facility reporting group
1 THE HOSPITAL OF THE UNIV OF PENN
3400 SPRUCE STREET
PHILADELPHIA,PA19104
WWW.PENNMEDICINE.ORG
LICENSE# 341101 		X     X X X X      
Schedule H (Form 990) 2013
Schedule H (Form 990) 2013
Page
Part VFacility Information (continued)

Section B. Facility Policies and Practices

(Complete a separate Section B for each of the hospital facilities or facility reporting groups listed in Part V, Section A)
THE HOSPITAL OF THE UNIV OF PENN
Name of hospital facility or facility reporting group  
If reporting on Part V, Section B for a single hospital facility only: line number of
hospital facility (from Schedule H, Part V, Section A) 		1
Yes No
Community Health Needs Assessment (Lines 1 through 8c are optional for tax years begining on or before March 23, 2012)
1 During the tax year or either of the two immediately preceding tax years, did the hospital facility conduct a community health needs assessment (CHNA)? If "No," skip to line 9.................... 1 Yes  
If "Yes," indicate what the CHNA report describes (check all that apply):
a
b
c
d
e
f
g
h
i
j
2 Indicate the tax year the hospital facility last conducted a CHNA: 20 12
3 In conducting its most recent CHNA, did the hospital facility take into account input from persons who represent the broad interests of the community served by the hospital facility, including those with special knowledge of or expertise in public health? If "Yes," describe in Part VI how the hospital facility took into account input from persons who represent the community, and identify the persons the hospital facility consulted .................... 3 Yes  
4 Was the hospital facility’s CHNA conducted with one or more other hospital facilities? If "Yes," list the other hospital facilities in Part VI................................ 4 Yes  
5 Did the hospital facility make its CHNA report widely available to the public? ............. 5 Yes  
If "Yes," indicate how the CHNA report was made widely available (check all that apply):
a
b
c
d
6 If the hospital facility addressed needs identified in its most recently conducted CHNA, indicate how (check all that apply as of the end of the tax year):
a
b
c
d
e
f
g
h
i
7 Did the hospital facility address all of the needs identified in its most recently conducted CHNA? If "No," explain in Part VI which needs it has not addressed and the reasons why it has not addressed such needs ........ 7   No
8a Did the organization incur an excise tax under section 4959 for the hospital facility's failure to conduct a CHNA as required by section 501(r)(3)? ........................... 8a   No
b If "Yes" to line 8a, did the organization file Form 4720 to report the section 4959 excise tax? ...... 8b    
c If "Yes" to line 8b, what is the total amount of section 4959 excise tax the organization reported on Form 4720 for all of its hospital facilities? $  

Schedule H (Form 990) 2013
Schedule H (Form 990) 2013
Page
Part VFacility Information (continued)

Financial Assistance Policy Yes No
9 Did the hospital facility have in place during the tax year a written financial assistance policy that:
Explained eligibility criteria for financial assistance, and whether such assistance includes free or discounted care? 9 Yes  
10 Used federal poverty guidelines (FPG) to determine eligibility for providing free care?........... 10 Yes  
If "Yes," indicate the FPG family income limit for eligibility for free care: 300.%
If "No," explain in Part VI the criteria the hospital facility used.
11 Used FPG to determine eligibility for providing discounted care?................. 11 Yes  
If "Yes," indicate the FPG family income limit for eligibility for discounted care: 300.%
If "No," explain in Part VI the criteria the hospital facility used.
12 Explained the basis for calculating amounts charged to patients?................. 12 Yes  
If "Yes," indicate the factors used in determining such amounts (check all that apply):
a
b
c
d
e
f
g
h
i
13 Explained the method for applying for financial assistance?................... 13 Yes  
14 Included measures to publicize the policy within the community served by the hospital facility?....... 14 Yes  
If "Yes," indicate how the hospital facility publicized the policy (check all that apply):
a
b
c
d
e
f
g
Billing and Collections
15 Did the hospital facility have in place during the tax year a separate billing and collections policy, or a written financial assistance policy (FAP) that explained actions the hospital facility may take upon non-payment?....... 15 Yes  
16 Check all of the following actions against an individual that were permitted under the hospital facility's policies during the tax year before making reasonable efforts to determine the individual’s eligibility under the facility’s FAP:
a
b
c
d
e
17 Did the hospital facility or an authorized third party perform any of the following actions during the tax year before making reasonable efforts to determine the individual’s eligibility under the facility’s FAP?.......... 17   No
If "Yes," check all actions in which the hospital facility or a third party engaged:
a
b
c
d
e
Schedule H (Form 990) 2013
Schedule H (Form 990) 2013
Page
Part VFacility Information (continued)

18 Indicate which efforts the hospital facility made before initiating any of the actions listed in line 17 (check all that apply):
a
b
c
d
e
Policy Relating to Emergency Medical Care
Yes No
19 Did the hospital facility have in place during the tax year a written policy relating to emergency medical care that requires the hospital facility to provide, without discrimination, care for emergency medical conditions to individuals regardless of their eligibility under the hospital facility’s financial assistance policy?.......... 19 Yes  
If "No," indicate why:
a
b
c
d
Charges to Individuals Eligible for Assistance under the FAP (FAP-Eligible Individuals)
20 Indicate how the hospital facility determined, during the tax year, the maximum amounts that can be charged to FAP-eligible individuals for emergency or other medically necessary care.
a
b
c
d
21 During the tax year, did the hospital facility charge any FAP-eligible individual to whom the hospital facility provided emergency or other medically necessary services more than the amounts generally billed to individuals who had insurance covering such care? ............................ 21   No
If "Yes," explain in Part VI.
22 During the tax year, did the hospital facility charge any FAP-eligible individual an amount equal to the gross charge for any service provided to that individual? ......................... 22   No
If "Yes," explain in Part VI.
Schedule H (Form 990) 2013
Schedule H (Form 990) 2013
Page
Part V
Facility Information (continued)
Section C. Supplemental Information for Part V, Section B.Provide descriptions required for Part V, Section B, lines 1j, 3, 4, 5d, 6i, 7, 10, 11, 12i, 14g, 16e, 17e, 18e, 19c, 19d, 20d, 21, and 22. If applicable, provide separate descriptions for each facility in a facility reporting group, designated by "Facility A," "Facility B," etc.
Form and Line Reference Explanation
PART V, SECTION B, LINES 3&4 (INPUT FROM COMMUNITY/JOINT CHNA) THE UNIVERSITY OF PENNSYLVANIA IS A MEMBER OF THE DELAWARE VALLEY HEALTHCARE COUNCIL OF HOSPITAL & HEALTH SYSTEM ASSOCIATION OF PENNSYLVANIA ("DVHC"), THE MEMBERSHIP ASSOCIATION FOR HOSPITALS IN THE FIVE-COUNTY REGION OF SOUTHEASTERN PENNSYLVANIA. DVHC ESTABLISHED A COMMUNITY HEALTH NEEDS ASSESSMENT ("CHNA") WORKGROUP TO ASSIST HOSPITALS IN: - UNDERSTANDING AFFORDABLE CARE ACT (ACA) REQUIREMENTS AND INTERNAL REVENUE SERVICE GUIDANCE AROUND COMMUNITY HEALTH NEEDS ASSESSMENTS. - IDENTIFYING THE BEST RESOURCES, TOOLS, AND SERVICES FOR CONDUCTING NEEDS ASSESSMENTS. THE WORKGROUP CONSISTED OF REPRESENTATIVES FROM THE FOLLOWING COLLABORATING HOSPITALS, HEALTH SYSTEMS, AND ORGANIZATIONS: -ABINGTON HEALTH -ARIA HEALTH -BUCKS COUNTY HEALTH IMPROVEMENT PARTNERSHIP -THE CHILDREN'S HOSPITAL OF PHILADELPHIA -CROZER-KEYSTONE HEALTH SYSTEM -EINSTEIN HEALTHCARE NETWORK -HOLY REDEEMER -JEFFERSON HEALTH SYSTEM ("JHS") (INCLUDING THOMAS JEFFERSON UNIVERSITY HOSPITALS, INC., MAIN LINE HEALTH, AND MAGEE REHABILITATION HOSPITAL)- JHS DISBANNED AS OF JUNE 30, 2014. -MERCY HEALTH SYSTEM OF SEPA -PENN MEDICINE (THE HOSPITAL OF THE UNIVERSITY OF PENNSYLVANIA, PENN PRESBYTERIAN MEDICAL CENTER, AND PENNSYLVANIA HOSPITAL) -ST. MARY MEDICAL CENTER -TEMPLE UNIVERSITY HEALTH SYSTEM -------------------- PART V, SECTION B, LINE 5A (CHNA AVAILABILITY TO PUBLIC) THE CHNA CAN BE ACCESSED AT HTTP://WWW.PENNMEDICINE.ORG/HEATLH-SYSTEM/ABOUT/COMMUNITY. --------------------
PART V, SECTION B, LINE 7 (ADDRESSING THE NEEDS IDENTIFIED IN THE CHNA) THE FIRST CHNA AND IMPLEMENTATION PLAN FOR THE UNIVERSITY OF PENNSYLVANIA HEALTH SYSTEM WAS ADOPTED JUNE 30, 2013. THE ORGANIZATION IS IN THE PROCESS OF ADDRESSING THE NEEDS IDENTIFIED IN THE CHNA BUT HAS NOT FULLY ADDRESSED ALL NEEDS AT THIS TIME. --------------------
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
Schedule H (Form 990) 2013
Schedule H (Form 990) 2013
Page
Part VFacility Information (continued)

Section D. Other Health Care Facilities That Are Not Licensed, Registered, or Similarly Recognized as a Hospital Facility
(list in order of size, from largest to smallest)
How many non-hospital health care facilities did the organization operate during the tax year?16
Name and address Type of Facility (describe)
1 PENN MEDICINE AT RADNOR
250 KING OF PRUSSIA ROAD
BALA CYNWYD,PA19004 		OUTPATIENT FACILITY
2 PENN MEDICINE AT BUCKS COUNTY
777 TOWNSHIP LINE ROAD
YARDLEY,PA19067 		OUTPATIENT FACILITY
3 PENN MEDICINE AT VALLEY FORGE
1001 CHESTERBROOK BLVD
BERWYN,PA19312 		OUTPATIENT FACILITY
4 PENN MEDICINE AT WOODBURY HEIGHTS
1006 MANTUA PIKE
WOODBURY HEIGHTS,NJ08097 		OUTPATIENT FACILITY
5 PENN MEDICINE AT RITTENHOUSE
1800 LOMBARD STREET
PHILADELPHIA,PA19146 		INPATIENT REHABILITATION
6 ANATOMY CHEMISTRY
420 GUARDIAN DRIVE
PHILADEPHIA,PA19104 		RESEARCH FACILITY
7 BIOMEDICAL RESEARCH BUILDING 2
500 OSLER CIRCLE
PHILADELPHIA,PA19104 		RESEARCH FACILITY
8 BLOCKLEY HALL
423 GUARDIAN DRIVE
PHILADELPHIA,PA19104 		RESEARCH FACILITY
9 CAROLYN HOFF LYNCH BIOLOGY LAB
435 S UNIVERSITY AVENUE
PHILADELPHIA,PA19104 		RESEARCH FACILITY
10 CHEMISTRY LABORATORIES - 1958 WING
231 S 34TH STREET
PHILADELPHIA,PA19104 		RESEARCH FACILITY
11 CHESTNUT HALL
3900 CHESTNUT STREET
PHILADELPHIA,PA19104 		RESEARCH FACILITY
12 CLINICAL RESEARCH BUILDING
415 CURIE BLVD
PHILADELPHIA,PA19104 		RESEARCH FACILITY
13 GL LABORATORY BUILDING
500 S RIDGEWAY
GLENOLDEN,PA19036 		RESEARCH FACILITY
14 GODDARD LABORATORIES
3710 HAMILTON WALK
PHILADELPHIA,PA19104 		RESEARCH FACILITY
15 HAYDEN HALL
3320 SMITH WALK
PHILADELPHIA,PA19104 		RESEARCH FACILITY
16 PERELMAN CENTER FOR ADVANCED MEDICINE
3400 CIVIC CENTER BOULEVARD
PHILADELPHIA,PA19104 		OUTPATIENT FACILITY
Schedule H (Form 990) 2013
Schedule H (Form 990) 2013
Page
Part VI
Supplemental Information
Provide the following information.
1 Required descriptions. Provide the descriptions required for Part I, lines 3c, 6a, and 7; Part II and Part III, lines 2, 3, 4, 8 and 9b.
2 Needs assessment. Describe how the organization assesses the health care needs of the communities it serves, in addition to any CHNAs reported in Part V, Section B.
3 Patient education of eligibility for assistance. Describe how the organization informs and educates patients and persons who may be billed for patient care about their eligibility for assistance under federal, state, or local government programs or under the organization’s financial assistance policy.
4 Community information. Describe the community the organization serves, taking into account the geographic area and demographic constituents it serves.
5 Promotion of community health. Provide any other information important to describing how the organization’s hospital facilities or other health care facilities further its exempt purpose by promoting the health of the community (e.g., open medical staff, community board, use of surplus funds, etc.).
6 Affiliated health care system. If the organization is part of an affiliated health care system, describe the respective roles of the organization and its affiliates in promoting the health of the communities served.
7 State filing of community benefit report. If applicable, identify all states with which the organization, or a related organization, files a community benefit report.
Form and Line Reference Explanation
PART V, SECTION B, LINES 3&4 (INPUT FROM COMMUNITY/JOINT CHNA) THE UNIVERSITY OF PENNSYLVANIA IS A MEMBER OF THE DELAWARE VALLEY HEALTHCARE COUNCIL OF HOSPITAL & HEALTH SYSTEM ASSOCIATION OF PENNSYLVANIA ("DVHC"), THE MEMBERSHIP ASSOCIATION FOR HOSPITALS IN THE FIVE-COUNTY REGION OF SOUTHEASTERN PENNSYLVANIA. DVHC ESTABLISHED A COMMUNITY HEALTH NEEDS ASSESSMENT ("CHNA") WORKGROUP TO ASSIST HOSPITALS IN: - UNDERSTANDING AFFORDABLE CARE ACT (ACA) REQUIREMENTS AND INTERNAL REVENUE SERVICE GUIDANCE AROUND COMMUNITY HEALTH NEEDS ASSESSMENTS. - IDENTIFYING THE BEST RESOURCES, TOOLS, AND SERVICES FOR CONDUCTING NEEDS ASSESSMENTS. THE WORKGROUP CONSISTED OF REPRESENTATIVES FROM THE FOLLOWING COLLABORATING HOSPITALS, HEALTH SYSTEMS, AND ORGANIZATIONS: -ABINGTON HEALTH -ARIA HEALTH -BUCKS COUNTY HEALTH IMPROVEMENT PARTNERSHIP -THE CHILDREN'S HOSPITAL OF PHILADELPHIA -CROZER-KEYSTONE HEALTH SYSTEM -EINSTEIN HEALTHCARE NETWORK -HOLY REDEEMER -JEFFERSON HEALTH SYSTEM ("JHS") (INCLUDING THOMAS JEFFERSON UNIVERSITY HOSPITALS, INC., MAIN LINE HEALTH, AND MAGEE REHABILITATION HOSPITAL)- JHS DISBANNED AS OF JUNE 30, 2014. -MERCY HEALTH SYSTEM OF SEPA -PENN MEDICINE (THE HOSPITAL OF THE UNIVERSITY OF PENNSYLVANIA, PENN PRESBYTERIAN MEDICAL CENTER, AND PENNSYLVANIA HOSPITAL) -ST. MARY MEDICAL CENTER -TEMPLE UNIVERSITY HEALTH SYSTEM -------------------- PART V, SECTION B, LINE 5A (CHNA AVAILABILITY TO PUBLIC) THE CHNA CAN BE ACCESSED AT HTTP://WWW.PENNMEDICINE.ORG/HEATLH-SYSTEM/ABOUT/COMMUNITY. --------------------
PART V, SECTION B, LINE 7 (ADDRESSING THE NEEDS IDENTIFIED IN THE CHNA) THE FIRST CHNA AND IMPLEMENTATION PLAN FOR THE UNIVERSITY OF PENNSYLVANIA HEALTH SYSTEM WAS ADOPTED JUNE 30, 2013. THE ORGANIZATION IS IN THE PROCESS OF ADDRESSING THE NEEDS IDENTIFIED IN THE CHNA BUT HAS NOT FULLY ADDRESSED ALL NEEDS AT THIS TIME. --------------------
Schedule H (Form 990) 2013
Additional Data


Software ID:  
Software Version:  
Schedule I
(Form 990)
Department of the Treasury
Internal Revenue Service
Grants and Other Assistance to Organizations,
Governments and Individuals in the United States
Complete if the organization answered "Yes," to Form 990, Part IV, line 21 or 22.
lBullet Attach to Form 990
lBullet Information about Schedule I (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public
Inspection
Name of the organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
 
Employer identification number
23-1352685
Part I
General Information on Grants and Assistance
1
Does the organization maintain records to substantiate the amount of the grants or assistance, the grantees' eligibility for the grants or assistance, and
the selection criteria used to award the grants or assistance? ....................................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Governments and Organizations in the United States. Complete if the organization answered "Yes" to
Form 990, Part IV, line 21, for any recipient that received more than $5,000. Part II can be duplicated if additional space is needed.
(a) Name and address of organization
or government		 (b) EIN (c) IRC Code section
if applicable		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
non-cash assistance		 (h) Purpose of grant
or assistance






















2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................ Bullet Image
 
3
Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) 2013

Schedule I (Form 990) 2013
Page 2
Part III
Grants and Other Assistance to Individuals in the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.
(a)Type of grant or assistance (b)Number of
recipients		 (c)Amount of
cash grant		 (d)Amount of
non-cash assistance		 (e)Method of valuation (book,
FMV, appraisal, other)		 (f)Description of non-cash assistance
(1) Financial Aid to Undergraduate Students 6562 249,889,000   n/a n/a
(2) financial aid to graduate/professional students 7820 125,031,000   n/a n/a










Part IV
Supplemental Information. Provide the information required in Part I, line 2, Part III, column (b), and any other additional information.
Return Reference Explanation
PROCEDURES FOR MONITORING GRANTS- FORM 990, SCHEDULE I, PART I, LINE 2 THE UNIVERSITY MAINTAINS A POLICY OF OFFERING QUALIFIED UNDERGRADUATE APPLICANTS ADMISSION TO THE UNIVERSITY WITHOUT REGARD TO FINANCIAL CIRCUMSTANCE. THIS POLICY PROVIDES FINANCIAL AID TO ELIGIBLE STUDENTS IN THE FORM OF DIRECT GRANTS AND EMPLOYMENT DURING THE ACADEMIC YEAR. THE UNIVERSITY MAINTAINS AN ALL-GRANT POLICY WHEREBY ANY QUALIFIED UNDERGRADUATE STUDENT WITH DEMONSTRATED FINANCIAL NEED RECEIVES A LOAN-FREE AID PACKAGE. STUDENTS MAY STILL BORROW AT THEIR DISCRETION TO SUPPLEMENT THEIR AID PACKAGES. AN UNDERGRADUATE STUDENT MAY ALSO BE ELIGIBLE FOR FACULTY/STAFF TUITION REMISSION AS A RESULT OF A PARENT BEING ELIGIBLE TO RECEIVE THIS BENEFIT AS A CONDITION OF THEIR EMPLOYMENT. GRADUATE/PROFESSIONAL FINANCIAL AID CAN BE AWARDED BASED ON FINANCIAL NEED, SERVICE (TEACHING FELLOWSHIPS, RESEARCH ASSISTANTSHIPS AND FELLOWSHIPS) OR OTHER CRITERIA SUCH AS MERIT/ACADEMICS. PHD STUDENTS GENERALLY RECEIVE MULTI-YEAR AWARDS COVERING THEIR FULL EDUCATIONAL COSTS. A GRADUATE/PROFESSIONAL STUDENT MAY ALSO BE ELIGIBLE FOR FACULTY/STAFF BENEFIT AS DESCRIBED ABOVE. --------------------
SUBAWARDS- FORM 990, SCHEDULE I, PART II IN FURTHERANCE OF ITS RESEARCH ACTIVITIES, THE UNIVERSITY OF PENNSYLVANIA MAKES SUB-AWARDS TO OTHER INSTITUTIONS THAT PERFORM RESEARCH IN CONNECTION WITH RESEARCH GRANTS AWARDED TO THE UNIVERSITY. THE UNIVERSITY DOES NOT CATEGORIZE THESE SUB-AWARDS AS GRANTS OR ASSISTANCE FOR FORM 990 REPORTING, SINCE THE RECIPIENT ORGANIZATIONS PERFORM RESEARCH SERVICES FOR THE UNIVERSITY AND ARE CONSIDERED INDEPENDENT CONTRACTORS WHICH SERVE THE DIRECT NEEDS OF THE UNIVERSITY. DURING THE YEAR ENDED JUNE 30, 2014, THE UNIVERSITY OF PENNSYLVANIA MADE SUB-AWARD PAYMENTS TO 348 RECIPIENTS TOTALING $93,172,000.
Schedule I (Form 990) 2013


Additional Data


Software ID:  
Software Version:  


Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet Complete if the organization answered "Yes" to Form 990, Part IV, line 23.
SchJMediumBullet Attach to Form 990. SchJMediumBullet See separate instructions.
SchJMediumBullet Information about Schedule J (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public Inspection
Name of the organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
 
Employer identification number

23-1352685
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
b
If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain....
1b
Yes
 
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked in line 1a? ..
2
Yes
 
3
Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
4
During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment? ................
4a
 
No
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........
4b
Yes
 
c
Participate in, or receive payment from, an equity-based compensation arrangement? .........
4c
 
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3) and 501(c)(4) organizations only must complete lines 5-9.
5
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization? ...........................
5a
 
No
b
Any related organization? .........................
5b
 
No
If "Yes," to line 5a or 5b, describe in Part III.
6
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization? ...........................
6a
 
No
b
Any related organization? .........................
6b
 
No
If "Yes," to line 6a or 6b, describe in Part III.
7
For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............
7
Yes
 
8
Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................
8
 
No
9
If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) 2013

Schedule J (Form 990) 2013
Page 2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A) Name and Title (B) Breakdown of W-2 and/or 1099-MISC compensation (C) Retirement and other deferred compensation (D) Nontaxable
benefits		 (E) Total of columns
(B)(i)-(D) 		(F) Compensation
reported as deferred
in prior Form 990
(i) Base compensation (ii) Bonus & incentive compensation (iii) Other reportable compensation
(1)ROBIN BECKFORMER VP, ISC (i)
(ii)		 104,371
0 		43,000
0 		635
0 		52,582
0 		3,563
0 		204,151
0 		0
0
(2)CRAIG CARNAROLIEXECUTIVE VICE PRESIDENT (i)
(ii)		 721,120
0 		208,500
0 		115,004
0 		65,700
0 		20,908
0 		1,131,232
0 		114,554
0
(3)JEFFREY COOPERVP GOVT & COMMUNITY RELATIONS (i)
(ii)		 306,355
0 		50,000
0 		1,964
0 		28,260
0 		21,319
0 		407,898
0 		0
0
(4)BONNIE GIBSONVP BUDGET AND MGMT ANALYSIS (i)
(ii)		 311,122
0 		50,000
0 		17,705
0 		28,575
0 		18,738
0 		426,140
0 		12,191
0
(5)STEPHEN GOLDINGVP FINANCE AND TREASURER (i)
(ii)		 375,757
0 		60,000
0 		1,980
0 		34,144
0 		20,707
0 		492,588
0 		0
0
(6)JOHN HEUERVP HUMAN RESOURCES (i)
(ii)		 339,995
0 		54,000
0 		22,690
0 		30,870
0 		5,638
0 		453,193
0 		22,000
0
(7)JOHN HORNCOMPTROLLER (i)
(ii)		 250,557
0 		30,000
0 		1,008
0 		22,860
0 		7,299
0 		311,724
0 		0
0
(8)LARRY JAMESONVP AND DEAN OF PSOM (i)
(ii)		 1,315,177
0 		625,940
0 		114,084
0 		280,950
0 		24,646
0 		2,360,797
0 		0
0
(9)LESLIE KRUHLYVP AND SECRETARY (i)
(ii)		 265,071
0 		46,000
0 		2,936
0 		24,435
0 		17,374
0 		355,816
0 		1,277
0
(10)STEPHEN J MACCARTHYVP COMMUNICATIONS (i)
(ii)		 318,533
0 		57,000
0 		48,190
0 		29,565
0 		28,639
0 		481,927
0 		0
0
(11)JOANN MITCHELLVP INSTITUTIONAL AFFAIRS (i)
(ii)		 312,689
0 		53,000
0 		13,484
0 		28,665
0 		9,194
0 		417,032
0 		12,201
0
(12)THOMAS MURPHYVP ISC (i)
(ii)		 334,671
0 		20,000
0 		533
0 		0
0 		19,192
0 		374,396
0 		0
0
(13)ANNE PAPAGEORGEVP FACILITIES AND REAL ESTATE (i)
(ii)		 361,207
0 		65,000
0 		24,969
0 		34,600
0 		14,285
0 		500,061
0 		24,279
0
(14)VINCENT PRICEPROVOST (i)
(ii)		 627,963
0 		181,000
0 		1,290
0 		57,375
0 		13,085
0 		880,713
0 		0
0
(15)GREGORY ROSTVP AND CHIEF OF STAFF (i)
(ii)		 404,352
0 		70,000
0 		39,669
0 		36,990
0 		23,909
0 		574,920
0 		38,679
0
(16)ARTHUR RUBENSTEINFORMER VP, DEAN, PSOM (i)
(ii)		 450,802
0 		0
0 		11,180
0 		22,950
0 		21,880
0 		506,812
0 		0
0
(17)MAUREEN RUSHVP PUBLIC SAFETY (i)
(ii)		 263,829
0 		42,000
0 		2,480
0 		25,605
0 		16,481
0 		350,395
0 		1,398
0
(18)WENDY WHITESR VP AND GENERAL COUNSEL (i)
(ii)		 588,255
0 		101,000
0 		82,060
0 		53,415
0 		18,571
0 		843,301
0 		80,080
0
(19)MARIE WITTVP BUSINESS SERVICES (i)
(ii)		 286,384
0 		43,000
0 		7,745
0 		26,775
0 		26,658
0 		390,562
0 		7,089
0
(20)JOHN ZELLERVP DEVELOPMENT & ALUMNI RELTNS (i)
(ii)		 536,048
0 		396,000
0 		62,782
0 		49,050
0 		14,213
0 		1,058,093
0 		60,802
0
(21)PETER AMMONCHIEF INVESTMENT OFFICER (i)
(ii)		 325,783
0 		0
0 		52,386
0 		832,513
0 		6,902
0 		1,217,584
0 		0
0
(22)ANDREW BINNSASSOCIATE PROVOST (i)
(ii)		 311,893
0 		0
0 		1,980
0 		22,950
0 		19,359
0 		356,182
0 		0
0
(23)DAWN BONNELLVICE PROVOST FOR RESEARCH (i)
(ii)		 308,250
0 		0
0 		772
0 		22,950
0 		9,128
0 		341,100
0 		0
0
(24)KATHY BRAMWELLVICE DEAN OF SAS- THRU 1/6/14 (i)
(ii)		 295,669
0 		0
0 		618
0 		22,950
0 		8,864
0 		328,101
0 		0
0
(25)PATRICK BRENNAN MDSR VP & CHIEF MEDICAL OFFICER (i)
(ii)		 429,013
0 		224,919
0 		53,321
0 		22,950
0 		12,631
0 		742,834
0 		0
0
(26)REBECCA COOKEVICE DEAN, ADMIN PSOM (i)
(ii)		 351,647
0 		144,050
0 		690
0 		22,950
0 		21,924
0 		541,261
0 		0
0
(27)PETER DEGNANSENIOR ASSOCIATE DEAN (i)
(ii)		 345,863
0 		0
0 		690
0 		22,950
0 		17,478
0 		386,981
0 		0
0
(28)STEVEN J FLUHARTYDEAN OF SAS (i)
(ii)		 459,371
0 		0
0 		1,290
0 		40,709
0 		21,264
0 		522,634
0 		0
0
(29)GLEN N GAULTONVICE DEAN, PSOM (i)
(ii)		 520,706
0 		215,570
0 		76,664
0 		22,950
0 		15,276
0 		851,166
0 		0
0
(30)KRISTIN GILBERTSONFORMER CHIEF INVESTMENT OFFCR (i)
(ii)		 160,663
0 		2,876
0 		113
0 		14,513
0 		1,727
0 		179,892
0 		0
0
(31)ELIZABETH B JOHNSTONEXECUTIVE DIRECTOR CPUP (i)
(ii)		 551,647
0 		262,276
0 		171,629
0 		110,200
0 		7,905
0 		1,103,657
0 		124,457
0
(32)KEITH KASPERCFO, UPHS (i)
(ii)		 559,232
0 		269,500
0 		214,973
0 		112,000
0 		25,626
0 		1,181,331
0 		114,882
0
(33)JAMES MATTHEW LANEVICE DEAN OF SAS (i)
(ii)		 127,989
0 		0
0 		85
0 		6,245
0 		20,646
0 		154,965
0 		0
0
(34)KEVIN MAHONEYSENIOR VP, CHIEF ADMIN OFFICER (i)
(ii)		 573,731
0 		283,763
0 		160,947
0 		115,000
0 		22,543
0 		1,155,984
0 		123,287
0
(35)GAIL MORRISONVICE DEAN, EDUCATION PSOM (i)
(ii)		 455,351
0 		185,610
0 		17,354
0 		22,950
0 		19,198
0 		700,463
0 		0
0
(36)RALPH MULLERCEO, UPHS (i)
(ii)		 1,438,646
0 		683,862
0 		326,455
0 		0
0 		15,273
0 		2,464,236
0 		0
0
(37)PHILIP OKALASR VP BUSINESS DEVELOPMENT (i)
(ii)		 347,130
0 		128,354
0 		47,213
0 		48,435
0 		21,593
0 		592,725
0 		27,586
0
(38)PETER D QUINN MD DMDSR VP, VICE DEAN, PSOM (i)
(ii)		 812,765
0 		553,439
0 		9,886
0 		22,950
0 		17,117
0 		1,416,157
0 		165,499
0
(39)THOMAS ROBERTSONDEAN OF WHARTON (i)
(ii)		 598,707
0 		100,000
0 		36,540
0 		22,950
0 		13,759
0 		771,956
0 		0
0
(40)GARRY L SCHEIBCOO, UPHS (i)
(ii)		 877,654
0 		408,100
0 		231,149
0 		176,000
0 		16,827
0 		1,709,730
0 		198,879
0
(41)THOMAS L SPRAY MDCHOP- SURGERY (i)
(ii)		 1,396,187
0 		0
0 		451,573
0 		22,950
0 		10,991
0 		1,881,701
0 		0
0
(42)MICHAEL SEAN GRADY MDSURGEON - OTORHINOLARYNGOLOGY (i)
(ii)		 1,280,827
0 		524,480
0 		3,936
0 		32,593
0 		17,996
0 		1,859,832
0 		0
0
(43)WILLIAM C WELCH MDNEUROSURGERY (i)
(ii)		 1,374,689
0 		400
0 		190,624
0 		0
0 		9,016
0 		1,574,729
0 		0
0
(44)PAUL MARCOTTE MDNEUROSURGERY (i)
(ii)		 1,352,197
0 		0
0 		187,553
0 		14,233
0 		6,409
0 		1,560,392
0 		0
0
(45)ROSALIE ELENITSAS MDDERMATOLOGY (i)
(ii)		 739,825
0 		0
0 		740,184
0 		32,593
0 		19,037
0 		1,531,639
0 		0
0
(46)DR AMY GUTMANNPRESIDENT, EX-OFFICIO TRUSTEE (i)
(ii)		 1,175,307
0 		1,479,625
0 		372,421
0 		360,360
0 		38,393
0 		3,426,106
0 		0
0
Schedule J (Form 990) 2013

Schedule J (Form 990) 2013
Page 3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II.
Also complete this part for any additional information.
Return Reference Explanation
DETAIL OF ADDITIONAL BENEFITS PROVIDED- FORM 990, SCHEDULE J, LINE 1A FIRST CLASS OR CHARTER TRAVEL THE MODE OF AIR TRAVEL UTILIZED BY UNIVERSITY EMPLOYEES IS EXPECTED TO BE THE LEAST COSTLY OPTION, CONSISTENT WITH THE ITINERARY AND PARTICULAR UNIVERSITY BUSINESS PURPOSE INVOLVED. ON FEDERALLY FUNDED PROJECTS, COMPLIANCE WITH THE FLY AMERICA ACT TAKES PRECEDENCE OVER CHOOSING A LESS EXPENSIVE FOREIGN CARRIER. IN CERTAIN LIMITED CIRCUMSTANCES, CERTAIN INDIVIDUALS MAY TRAVEL FIRST CLASS. ANY FIRST CLASS EXCEPTIONS TO THE UNIVERSITY'S POLICY ARE SUBJECT TO APPROPRIATE REVIEW AND APPROVAL. TRAVEL FOR COMPANIONS TRAVEL EXPENSES OF A SPOUSE (OR DEPENDENT) MAY BE PROVIDED BY THE UNIVERSITY AS A REGULAR BUSINESS EXPENSE ONLY IF THE TRAVEL SERVES A "BONA FIDE BUSINESS PURPOSE" OF THE UNIVERSITY. FURTHER, TRAVEL EXPENSES FOR SPOUSES AND DEPENDENTS ARE ALLOWABLE DURING THE INTERVIEW PROCESS PRIOR TO AN EMPLOYMENT OFFER, SINCE EMPLOYMENT IS CONSIDERED A FAMILY DECISION. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS THE UNIVERSITY MAY PROVIDE TAX GROSS-UP PAYMENTS UNDER CERTAIN CIRCUMSTANCES WITH APPROPRIATE APPROVAL. THE UNIVERSITY DOES NOT GENERALLY PROVIDE TAX INDEMNIFICATIONS. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE/HEALTH OR SOCIAL CLUB DUES/PERSONAL SERVICES AS A CONDITION OF EMPLOYMENT, THE PRESIDENT IS REQUIRED TO LIVE IN A HOME ON THE UNIVERSITY'S CAMPUS WHICH IS FURNISHED AND MAINTAINED AT THE UNIVERSITY'S EXPENSE. THE UNIVERSITY ALSO PROVIDES A HEALTH/SOCIAL CLUB MEMBERSHIP, TO BE USED BY THE PRESIDENT IN CONNECTION WITH HER DUTIES. THE PRESIDENT IS RESPONSIBLE FOR ANY PERSONAL USE OF THE CLUB MEMBERSHIP, HOUSEHOLD STAFF OR OTHER PERSONAL EXPENSES INCURRED. --------------------
PARTICIPATION IN A SUPP NONQUALIFIED PLAN- FORM 990, SCHEDULE J, LINE 4B THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA (THE "UNIVERSITY") MAINTAINS A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN ("SERP") DESIGNED FOR SENIOR ADMINISTRATORS AND DEANS OF THE UNIVERSITY AS DESIGNATED BY THE BOARD OF TRUSTEES WHO HAVE MADE THE 5% EMPLOYEE CONTRIBUTION TO THE UNIVERSITY'S 403(B) PLAN, HAVE UNIVERSITY COMPENSATION OVER CERTAIN IRS PROSCRIBED THRESHOLDS, AND ARE ACTIVELY EMPLOYED BY THE UNIVERSITY WHEN THE CONTRIBUTION IS MADE. VESTING IN THE SERP OCCURS AFTER EACH THREE YEARS OF PARTICIPATION AND UPON THE OCCURRENCE OF CERTAIN EVENTS (ATTAINMENT OF AGE 65, DEATH, DISABILITY, OR INVOLUNTARY TERMINATION WITHOUT "CAUSE"). CONTRIBUTIONS FOR THOSE WHO HAVE REACHED AGE 65 WILL BE FULLY VESTED WHEN MADE. UPON REACHING A VESTING DATE, PARTICIPANTS WILL AUTOMATICALLY RECEIVE A "PARTIAL" DISTRIBUTION WHICH WILL BE WITHHELD TO SATISFY THE TAX CONSEQUENCES OF VESTING. THE BALANCE OF VESTED SERP ACCOUNT WILL REMAIN IN THE PLAN AND WILL BE DISTRIBUTED (PLUS OR MINUS INVESTMENT EARNINGS/LOSSES) UPON TERMINATION OF EMPLOYMENT. PARTICIPANTS WHO VOLUNTARILY TERMINATE BEFORE VESTING WILL FORFEIT THE BALANCE IN THEIR ACCOUNTS. THE FOLLOWING INDIVIDUALS LISTED ON FORM 990, PART VII, SECTION A, LINE 1A PARTICIPATED IN THE UNIVERSITY SERP PLAN DURING THE YEAR AND/OR RECEIVED EMPLOYER PAID AMOUNTS DURING THE YEAR: AMMON, PETER- NO DISTRIBUTION CARNAROLI, CRAIG- $114,554 COOPER, JEFFREY- NO DISTRIBUTION FLUHARTY, STEVEN J.- NO DISTRIBUTION GIBSON, BONNIE- $12,191 GOLDING, STEPHEN- NO DISTRIBUTION HEUER, JOHN- $22,000 HORN, JOHN- NO DISTRIBUTION KRUHLY, LESLIE- $1,277 MACCARTHY, STEPHEN J.- NO DISTRIBUTION MITCHELL, JOANN- $12,201 MURPHY, THOMAS - NO DISTRIBUTION PAPAGEORGE, ANNE- $24,279 PRICE, VINCENT- NO DISTRIBUTION ROBERTSON, THOMAS- NO DISTRIBUTION ROST, GREGORY- $38,679 RUSH, MAUREEN- $1,398 WHITE, WENDY- $80,080 WITT, MARIE- $7,089 ZELLER, JOHN- $60,802 THE UNIVERSITY OF PENNSYLVANIA HEALTH SYSTEM (THE "HEALTH SYSTEM") MAINTAINS A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN ("SERP") DESIGNED FOR SENIOR ADMINISTRATORS OF THE HEALTH SYSTEM, AS DESIGNATED BY THE BOARD OF TRUSTEES, WHO ARE ACTIVELY EMPLOYED BY THE HEALTH SYSTEM WHEN THE CONTRIBUTIONS ARE MADE. VESTING IN THE SERP OCCURS AFTER EACH THREE YEARS OF PARTICIPATION AND UPON THE OCCURRENCE OF CERTAIN EVENTS (ATTAINMENT OF AGE 65, DEATH, DISABILITY, OR INVOLUNTARY TERMINATION WITHOUT "CAUSE"). CONTRIBUTIONS FOR THOSE WHO HAVE REACHED AGE 65 WILL BE FULLY VESTED WHEN MADE. UPON REACHING A VESTING DATE, PARTICIPANTS WILL AUTOMATICALLY RECEIVE A FULL DISTRIBUTION WHICH IS TAXABLE AS EARNED INCOME. PARTICIPANTS WHO VOLUNTARILY TERMINATE BEFORE VESTING WILL FORFEIT THE BALANCE IN THEIR ACCOUNTS. THE FOLLOWING INDIVIDUALS LISTED ON FORM 990, PART VII, SECTION A, LINE 1A PARTICIPATED IN THE HEALTH SYSTEM SERP PLAN DURING THE YEAR AND/OR RECEIVED EMPLOYER PAID AMOUNTS DURING THE YEAR: JOHNSTON, ELIZABETH- $124,457 KASPER, KEITH- $114,882 MAHONEY, KEVIN- $123,287 MULLER, RALPH- $287,337 OKALA, PHILIP- $27,586 QUINN, PETER D.- $165,499 SCHEIB, GARRY- $198,879
PROVISION OF NON-FIXED PAYMENTS- FORM 990, SCHEDULE J, LINE 7 THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA PROVIDES DISCRETIONARY BONUS AND/OR INCENTIVE COMPENSATION PAYMENTS TO ELIGIBLE EMPLOYEES. PAYMENTS MADE TO ANY DISQUALIFIED PERSON, AS DESCRIBED IN INTERNAL REVENUE CODE SECTION 4958, ARE APPROVED BY THE COMPENSATION COMMITTEE THROUGH THE PROCESS DESCRIBED IN FORM 990, PART VI, SECTION B, LINE 15.
Schedule J (Form 990) 2013

Additional Data


Software ID:  
Software Version:  
Schedule K
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information on Tax Exempt Bonds
SchKMediumBullet Complete if the organization answered "Yes" to Form 990, Part IV, line 24a. Provide descriptions,
explanations, and any additional information in Part VI.
SchKMediumBullet Attach to Form 990. SchKMediumBullet See separate instructions.
SchKMediumBulletInformation about Schedule K (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public
Inspection
Name of the organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
 
Employer identification number
23-1352685
Part I
Bond Issues
(a) Issuer name (b) Issuer EIN (c) CUSIP # (d) Date issued (e) Issue price (f) Description of purpose (g) Defeased (h) On
behalf of
issuer 		(i) Pool
financing
Yes No Yes No Yes No
A PA HIGHER ED FACILITIES AUTHORITY- SERIES A&B 2005
  		22-2243852 70917NR97 01-12-2005 112,618,284 REFUND 1995 BONDS; SPRINKLER SYSTM   X   X   X
B PA HIGHER ED FACILITIES AUTHORITY- SERIES C 2005
  		22-2243852 70917N7V0 08-18-2005 146,112,644 REDEEM 1998 BONDS; CAP PROJECTS   X   X   X
C PA HIGHER ED FACILITIES AUTHORITY- SERIES A 2009
  		22-2243852 70917RUS2 03-16-2009 228,289,883 VARIOUS CAPITAL PROJECTS   X   X   X
D PA HIGHER ED FACILITIES AUTHORITY- SERIES B 2009
  		22-2243852 70917RUS2 03-16-2009 44,226,561 REFUND 2008A (REFUNDING 2002B)   X   X   X
PA HIGHER ED FACILITIES AUTHORITY- SERIES C 2009
  		22-2243852 70917RUS2 03-16-2009 31,057,669 PARTIAL REFUND OF 1998 BONDS   X   X   X
PA HIGHER ED FACILITIES AUTHORITY- SERIES OF 2010
  		22-2243852 70917RP33 10-13-2010 77,125,325 COMPLETE REFUND OF 1998 BONDS   X   X   X
PA HIGHER ED FACILITIES AUTHORITY- SERIES A 2011
  		22-2243852 70917RS30 03-02-2011 150,994,928 CONSTRUCTION/RENOVATION PROJECTS   X   X   X
WASHINGTON COUNTY AUTHORITY- SERIES OF 2004
  		22-2243852 938591BF0 05-27-2004 62,500,000 REDEEM 1985 BONDS   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2005
  		22-2243852 70917NX41 02-16-2005 295,526,878 REFUND SERIES A 1996   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES B 2005
  		22-2243852 70917NX41 02-16-2005 89,118,513 CTR FOR ADV MED FACILITY   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2008
  		22-2243852 70917RPY5 04-16-2008 105,805,000 REFUND PHX 2002; CAPITAL PROJECTS   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES B 2008
  		22-2243852 70917RTN5 11-05-2008 198,316,551 REFUND UPHS SERIES C&D 2005   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2011
  		22-2243852 70917RT47 03-02-2011 148,861,396 CONSTRUCTION/RENOVATION PROJECTS   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2012
  		22-2243852 70917R5B7 05-02-2012 149,995,567 EXPANSION/FACILITY ENHANCEMENT   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2014
  		22-2243852   06-12-2014 100,000,000 VARIOUS CAPITAL PROJECTS   X   X   X
Part II
Proceeds
A B C D
1 Amount of bonds retired . . . . . . . . . . . . . . 82,886,284 23,795,644 11,665,883 7,415,561
2 Amount of bonds legally defeased . . . . . . . . . . . 0 0 0 0
3 Total proceeds of issue . . . . . . . . . . . . . . 112,618,284 146,112,644 228,463,615 44,226,561
4 Gross proceeds in reserve funds . . . . . . . . . . . . 0 0 0 0
5 Capitalized interest from proceeds . . . . . . . . . . . 0 0 0 0
6 Proceeds in refunding escrows . . . . . . . . . . . . 0 0 0 0
7 Issuance costs from proceeds . . . . . . . . . . . . 273,585 945,629 1,585,008 327,620
8 Credit enhancement from proceeds . . . . . . . . . . . 0 0 0 0
9 Working capital expenditures from proceeds . . . . . . . . . 0 0 0 0
10 Capital expenditures from proceeds . . . . . . . . . . . 5,039,284 70,126,989 194,666,046 0
11 Other spent proceeds . . . . . . . . . . . . . . 107,305,415 75,040,026 32,212,561 43,898,941
12 Other unspent proceeds . . . . . . . . . . . . . . 0 0 0 0
13 Year of substantial completion . . . . . . . . . . . . 2005 2006 2011 2002
Yes No Yes No Yes No Yes No
14 Were the bonds issued as part of a current refunding issue? . . . . . X     X   X X  
15 Were the bonds issued as part of an advance refunding issue? . . . . . X   X     X   X
16 Has the final allocation of proceeds been made? . . . . . . . . X   X   X   X  
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? . . . . . . . . . . . . . . X   X   X   X  
Part III
Private Business Use
A B C D
Yes No Yes No Yes No Yes No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? . . . . . . .   X   X   X   X
2 Are there any lease arrangements that may result in private business use of bond-financed property? . . . . . . . . .   X X     X X  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) 2013
Schedule K (Form 990) 2013
Page 2
Part III
Private Business Use (Continued)
A B C D
Yes No Yes No Yes No Yes No
3a Are there any management or service contracts that may result in private business use of bond-financed property? . . . . . . . . . . . .   X   X   X X  
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property? X   X       X  
c Are there any research agreements that may result in private business use of bond-financed property? . . . . . . . . . . . . . . .   X   X   X X  
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property? X   X       X  
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government . . SchKMediumBullet 0 % 0.314 % 0 % 0 %
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government . . . . . . . SchKMediumBullet 0.350 % 0.989 % 0 % 0 %
6 Total of lines 4 and 5 . . . . . . . . . . . . . 0.350 % 1.303 % 0 % 0 %
7 Does the bond issue meet the private security or payment test? . . . . .   X   X   X   X
8a Has there been a sale or disposition of any of the bond financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?. . . . . . . . . . . . . . . . .   X   X   X   X
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of. 0 % 0 % 0 % 0 %
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? . . . . . . . . . . . . .   X   X   X   X
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under
Regulations sections 1.141-12 and 1.145-2? . . . . . . . 		X   X   X   X  
Part IV
Arbitrage
A B C D
Yes No Yes No Yes No Yes No
1 Has the issuer filed Form 8038-T? . . . . .   X   X   X   X
2 If "No" to line 1, did the following apply? . . . .
a Rebate not due yet? . . . . . . . .                
b Exception to rebate? . . . . . . . . X   X   X   X  
c No rebate due? . . . . . . . .                
If you checked "No rebate due" in line 2c, provide in
Part VI the date the rebate computation was performed
3 Is the bond issue a variable rate issue? . . . .   X   X   X   X
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?   X   X   X   X
b Name of provider . . . . . . . . . 0
  		0
  		0
  		 
 
c Term of hedge . . . . . . . . . .        
d Was the hedge superintegrated? . . . .                
e Was the hedge terminated? . . . . . .                
Schedule K (Form 990) 2013
Schedule K (Form 990) 2013
Page 3
Part IV
Arbitrage (Continued)
A B C D
Yes No Yes No Yes No Yes No
5a Were gross proceeds invested in a guaranteed investment contract (GIC)? . . . . . . . . .   X   X   X   X
b Name of provider . . . . . . . . . 0
  		0
  		0
  		0
 
c Term of GIC . . . . . . . . . . 1.58 1.58    
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? . . . . . X   X          
6 Were any gross proceeds invested beyond an available temporary period? . . . . . . . .   X   X   X   X
7 Has the organization established written procedures to monitor the requirements of section 148? . . . X   X   X   X  
Part V
Procedures To Undertake Corrective Action
A B C D
Yes No Yes No Yes No Yes No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations? X   X   X   X  
Part VI
Supplemental Information. Provide additional information for responses to questions on Schedule K (see instructions).
Return Reference Explanation
TAX-EXEMPT BONDS- ADDITIONAL CUSIP # INFORMATION FORM 990, SCHEDULE K, PART I, ROW A, ITEM C THE FOLLOWING IS AN ADDITIONAL CUSIP # FOR THE PA HIGHER ED FACILITIES AUTHORITY- SERIES A & B OF 2005- 70917NQ72 --------------------
TAX-EXEMPT BONDS- DESCRIPTION OF BOND ISSUES: ALLOCATION OF PROCEEDS FORM 990, SCHEDULE K, PART I A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY-UPHS SERIES A OF 2014 BOND ISSUE HAS BEEN ALLOCATED TO PENNSYLVANIA HOSPITAL OF UPHS (EIN 31-1538725), PRESBYTERIAN MEDICAL CENTER (EIN 23-2810852), AND TO CHESTER COUNTY HOSPITAL (EIN 23-0469150), RELATED IRC SECTION 501(C)(3) ORGANIZATIONS. SINCE THE UNIVERSITY REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE SERIES A OF 2014 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE WAS $4,000,000 FOR PENNSYLVANIA HOSPITAL, $15,000,000 FOR PRESBYTERIAN MEDICAL CENTER, AND $50,000,000 FOR CHESTER COUNTY HOSPITAL AS OF JUNE 30, 2014. A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A 2012 BOND ISSUE HAS BEEN ALLOCATED TO PENNSYLVANIA HOSPITAL OF UPHS (EIN 31-1538725) AND TO PRESBYTERIAN MEDICAL CENTER (EIN 23-2810852), RELATED IRC SECTION 501(C)(3) ORGANIZATIONS. SINCE THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA ("UNIVERSITY") REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE UPHS SERIES A 2012 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE WAS $29,669,385 FOR PENNSYLVANIA HOSPITAL AND $22,274,539 FOR PRESBYTERIAN MEDICAL CENTER AS OF JUNE 30, 2014. A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A 2011 BOND ISSUE HAS BEEN ALLOCATED TO PENNSYLVANIA HOSPITAL OF UPHS (EIN 31-1538725) AND TO PRESBYTERIAN MEDICAL CENTER (EIN 23-2810852), RELATED IRC SECTION 501(C)(3) ORGANIZATIONS. SINCE THE UNIVERSITY REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE UPHS SERIES A 2011 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE WAS $14,902,708 FOR PENNSYLVANIA HOSPITAL AND $14,902,708 FOR PRESBYTERIAN MEDICAL CENTER AS OF JUNE 30, 2014. A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY-UPHS SERIES A OF 2008 BOND ISSUE HAS BEEN ALLOCATED TO PENNSYLVANIA HOSPITAL OF UPHS (EIN 31-1538725), A RELATED IRC SECTION 501(C)(3) ORGANIZATION. SINCE THE UNIVERSITY REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE SERIES A OF 2008 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE FOR PENNSYLVANIA HOSPITAL WAS $17,993,984 AS OF JUNE 30, 2014. A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A OF 2005 BOND ISSUE HAS BEEN ALLOCATED TO PRESBYTERIAN MEDICAL CENTER (EIN 23-2810852), A RELATED IRC SECTION 501(C)(3) ORGANIZATION. SINCE THE UNIVERSITY REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE SERIES A OF 2005 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE FOR PRESBYTERIAN MEDICAL CENTER WAS $23,404,480 AS OF JUNE 30, 2014. --------------------
TAX-EXEMPT BONDS- ADDITIONAL DETAIL FOR PROCEEDS OF ISSUES FORM 990, SCHEDULE K, PART II, LINE 3 FOR PA HIGHER ED FACILITIES AUTHORITY- SERIES A 2009, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $173,732 IN TOTAL INVESTMENT EARNINGS. FOR PA HIGHER ED FACILITIES AUTHORITY- SERIES A 2011, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $5,086 IN TOTAL INVESTMENT EARNINGS. FOR PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES B 2005, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $1,165,427 IN TOTAL INVESTMENT EARNINGS. FOR PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A 2011, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $297 IN TOTAL INVESTMENT EARNINGS. FOR PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A 2012, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $27,570 IN TOTAL INVESTMENT EARNINGS. ------------------
TAX-EXEMPT BONDS- ADDITIONAL DETAIL FOR PRIVATE BUSINESS USE PERCENTAGES FORM 990, SCHEDULE K, PART III FOR THE PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A OF 2014, UPHS SERIES A OF 2012, UPHS SERIES A OF 2011, SERIES A OF 2011, SERIES A OF 2009, AND UPHS SERIES A OF 2008, THE UNIVERSITY HAS SPECIFICALLY ALLOCATED EQUITY TO ALL SOURCES OF PRIVATE BUSINESS USE, WITH THE EXCEPTION OF ISSUANCE COSTS, WITHIN THE REQUIRED TIME FRAME. AS SUCH, THE UNIVERSITY HAS REPORTED NO PRIVATE BUSINESS USE FOR THESE BOND SERIES ON FORM 990, SCHEDULE K, PART III, LINES 4 AND 5.
Schedule K (Form 990) 2013

Additional Data


Software ID:  
Software Version:  

Schedule K
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information on Tax Exempt Bonds
SchKMediumBullet Complete if the organization answered "Yes" to Form 990, Part IV, line 24a. Provide descriptions,
explanations, and any additional information in Part VI.
SchKMediumBullet Attach to Form 990. SchKMediumBullet See separate instructions.
SchKMediumBulletInformation about Schedule K (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public
Inspection
Name of the organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
 
Employer identification number
23-1352685
Part I
Bond Issues
(a) Issuer name (b) Issuer EIN (c) CUSIP # (d) Date issued (e) Issue price (f) Description of purpose (g) Defeased (h) On
behalf of
issuer 		(i) Pool
financing
Yes No Yes No Yes No
A PA HIGHER ED FACILITIES AUTHORITY- SERIES A&B 2005
  		22-2243852 70917NR97 01-12-2005 112,618,284 REFUND 1995 BONDS; SPRINKLER SYSTM   X   X   X
B PA HIGHER ED FACILITIES AUTHORITY- SERIES C 2005
  		22-2243852 70917N7V0 08-18-2005 146,112,644 REDEEM 1998 BONDS; CAP PROJECTS   X   X   X
C PA HIGHER ED FACILITIES AUTHORITY- SERIES A 2009
  		22-2243852 70917RUS2 03-16-2009 228,289,883 VARIOUS CAPITAL PROJECTS   X   X   X
D PA HIGHER ED FACILITIES AUTHORITY- SERIES B 2009
  		22-2243852 70917RUS2 03-16-2009 44,226,561 REFUND 2008A (REFUNDING 2002B)   X   X   X
PA HIGHER ED FACILITIES AUTHORITY- SERIES C 2009
  		22-2243852 70917RUS2 03-16-2009 31,057,669 PARTIAL REFUND OF 1998 BONDS   X   X   X
PA HIGHER ED FACILITIES AUTHORITY- SERIES OF 2010
  		22-2243852 70917RP33 10-13-2010 77,125,325 COMPLETE REFUND OF 1998 BONDS   X   X   X
PA HIGHER ED FACILITIES AUTHORITY- SERIES A 2011
  		22-2243852 70917RS30 03-02-2011 150,994,928 CONSTRUCTION/RENOVATION PROJECTS   X   X   X
WASHINGTON COUNTY AUTHORITY- SERIES OF 2004
  		22-2243852 938591BF0 05-27-2004 62,500,000 REDEEM 1985 BONDS   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2005
  		22-2243852 70917NX41 02-16-2005 295,526,878 REFUND SERIES A 1996   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES B 2005
  		22-2243852 70917NX41 02-16-2005 89,118,513 CTR FOR ADV MED FACILITY   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2008
  		22-2243852 70917RPY5 04-16-2008 105,805,000 REFUND PHX 2002; CAPITAL PROJECTS   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES B 2008
  		22-2243852 70917RTN5 11-05-2008 198,316,551 REFUND UPHS SERIES C&D 2005   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2011
  		22-2243852 70917RT47 03-02-2011 148,861,396 CONSTRUCTION/RENOVATION PROJECTS   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2012
  		22-2243852 70917R5B7 05-02-2012 149,995,567 EXPANSION/FACILITY ENHANCEMENT   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2014
  		22-2243852   06-12-2014 100,000,000 VARIOUS CAPITAL PROJECTS   X   X   X
Part II
Proceeds
A B C D
1 Amount of bonds retired . . . . . . . . . . . . . . 82,886,284 23,795,644 11,665,883 7,415,561
2 Amount of bonds legally defeased . . . . . . . . . . . 0 0 0 0
3 Total proceeds of issue . . . . . . . . . . . . . . 112,618,284 146,112,644 228,463,615 44,226,561
4 Gross proceeds in reserve funds . . . . . . . . . . . . 0 0 0 0
5 Capitalized interest from proceeds . . . . . . . . . . . 0 0 0 0
6 Proceeds in refunding escrows . . . . . . . . . . . . 0 0 0 0
7 Issuance costs from proceeds . . . . . . . . . . . . 273,585 945,629 1,585,008 327,620
8 Credit enhancement from proceeds . . . . . . . . . . . 0 0 0 0
9 Working capital expenditures from proceeds . . . . . . . . . 0 0 0 0
10 Capital expenditures from proceeds . . . . . . . . . . . 5,039,284 70,126,989 194,666,046 0
11 Other spent proceeds . . . . . . . . . . . . . . 107,305,415 75,040,026 32,212,561 43,898,941
12 Other unspent proceeds . . . . . . . . . . . . . . 0 0 0 0
13 Year of substantial completion . . . . . . . . . . . . 2005 2006 2011 2002
Yes No Yes No Yes No Yes No
14 Were the bonds issued as part of a current refunding issue? . . . . . X     X   X X  
15 Were the bonds issued as part of an advance refunding issue? . . . . . X   X     X   X
16 Has the final allocation of proceeds been made? . . . . . . . . X   X   X   X  
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? . . . . . . . . . . . . . . X   X   X   X  
Part III
Private Business Use
A B C D
Yes No Yes No Yes No Yes No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? . . . . . . .   X   X   X   X
2 Are there any lease arrangements that may result in private business use of bond-financed property? . . . . . . . . .   X X     X X  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) 2013
Schedule K (Form 990) 2013
Page 2
Part III
Private Business Use (Continued)
A B C D
Yes No Yes No Yes No Yes No
3a Are there any management or service contracts that may result in private business use of bond-financed property? . . . . . . . . . . . .   X   X   X X  
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property? X   X       X  
c Are there any research agreements that may result in private business use of bond-financed property? . . . . . . . . . . . . . . .   X   X   X X  
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property? X   X       X  
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government . . SchKMediumBullet 0 % 0.314 % 0 % 0 %
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government . . . . . . . SchKMediumBullet 0.350 % 0.989 % 0 % 0 %
6 Total of lines 4 and 5 . . . . . . . . . . . . . 0.350 % 1.303 % 0 % 0 %
7 Does the bond issue meet the private security or payment test? . . . . .   X   X   X   X
8a Has there been a sale or disposition of any of the bond financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?. . . . . . . . . . . . . . . . .   X   X   X   X
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of. 0 % 0 % 0 % 0 %
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? . . . . . . . . . . . . .   X   X   X   X
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under
Regulations sections 1.141-12 and 1.145-2? . . . . . . . 		X   X   X   X  
Part IV
Arbitrage
A B C D
Yes No Yes No Yes No Yes No
1 Has the issuer filed Form 8038-T? . . . . .   X   X   X   X
2 If "No" to line 1, did the following apply? . . . .
a Rebate not due yet? . . . . . . . .                
b Exception to rebate? . . . . . . . . X   X   X   X  
c No rebate due? . . . . . . . .                
If you checked "No rebate due" in line 2c, provide in
Part VI the date the rebate computation was performed
3 Is the bond issue a variable rate issue? . . . .   X   X   X   X
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?   X   X   X   X
b Name of provider . . . . . . . . . 0
  		0
  		0
  		 
 
c Term of hedge . . . . . . . . . .        
d Was the hedge superintegrated? . . . .                
e Was the hedge terminated? . . . . . .                
Schedule K (Form 990) 2013
Schedule K (Form 990) 2013
Page 3
Part IV
Arbitrage (Continued)
A B C D
Yes No Yes No Yes No Yes No
5a Were gross proceeds invested in a guaranteed investment contract (GIC)? . . . . . . . . .   X   X   X   X
b Name of provider . . . . . . . . . 0
  		0
  		0
  		0
 
c Term of GIC . . . . . . . . . . 1.58 1.58    
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? . . . . . X   X          
6 Were any gross proceeds invested beyond an available temporary period? . . . . . . . .   X   X   X   X
7 Has the organization established written procedures to monitor the requirements of section 148? . . . X   X   X   X  
Part V
Procedures To Undertake Corrective Action
A B C D
Yes No Yes No Yes No Yes No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations? X   X   X   X  
Part VI
Supplemental Information. Provide additional information for responses to questions on Schedule K (see instructions).
Return Reference Explanation
TAX-EXEMPT BONDS- ADDITIONAL CUSIP # INFORMATION FORM 990, SCHEDULE K, PART I, ROW A, ITEM C THE FOLLOWING IS AN ADDITIONAL CUSIP # FOR THE PA HIGHER ED FACILITIES AUTHORITY- SERIES A & B OF 2005- 70917NQ72 --------------------
TAX-EXEMPT BONDS- DESCRIPTION OF BOND ISSUES: ALLOCATION OF PROCEEDS FORM 990, SCHEDULE K, PART I A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY-UPHS SERIES A OF 2014 BOND ISSUE HAS BEEN ALLOCATED TO PENNSYLVANIA HOSPITAL OF UPHS (EIN 31-1538725), PRESBYTERIAN MEDICAL CENTER (EIN 23-2810852), AND TO CHESTER COUNTY HOSPITAL (EIN 23-0469150), RELATED IRC SECTION 501(C)(3) ORGANIZATIONS. SINCE THE UNIVERSITY REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE SERIES A OF 2014 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE WAS $4,000,000 FOR PENNSYLVANIA HOSPITAL, $15,000,000 FOR PRESBYTERIAN MEDICAL CENTER, AND $50,000,000 FOR CHESTER COUNTY HOSPITAL AS OF JUNE 30, 2014. A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A 2012 BOND ISSUE HAS BEEN ALLOCATED TO PENNSYLVANIA HOSPITAL OF UPHS (EIN 31-1538725) AND TO PRESBYTERIAN MEDICAL CENTER (EIN 23-2810852), RELATED IRC SECTION 501(C)(3) ORGANIZATIONS. SINCE THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA ("UNIVERSITY") REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE UPHS SERIES A 2012 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE WAS $29,669,385 FOR PENNSYLVANIA HOSPITAL AND $22,274,539 FOR PRESBYTERIAN MEDICAL CENTER AS OF JUNE 30, 2014. A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A 2011 BOND ISSUE HAS BEEN ALLOCATED TO PENNSYLVANIA HOSPITAL OF UPHS (EIN 31-1538725) AND TO PRESBYTERIAN MEDICAL CENTER (EIN 23-2810852), RELATED IRC SECTION 501(C)(3) ORGANIZATIONS. SINCE THE UNIVERSITY REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE UPHS SERIES A 2011 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE WAS $14,902,708 FOR PENNSYLVANIA HOSPITAL AND $14,902,708 FOR PRESBYTERIAN MEDICAL CENTER AS OF JUNE 30, 2014. A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY-UPHS SERIES A OF 2008 BOND ISSUE HAS BEEN ALLOCATED TO PENNSYLVANIA HOSPITAL OF UPHS (EIN 31-1538725), A RELATED IRC SECTION 501(C)(3) ORGANIZATION. SINCE THE UNIVERSITY REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE SERIES A OF 2008 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE FOR PENNSYLVANIA HOSPITAL WAS $17,993,984 AS OF JUNE 30, 2014. A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A OF 2005 BOND ISSUE HAS BEEN ALLOCATED TO PRESBYTERIAN MEDICAL CENTER (EIN 23-2810852), A RELATED IRC SECTION 501(C)(3) ORGANIZATION. SINCE THE UNIVERSITY REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE SERIES A OF 2005 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE FOR PRESBYTERIAN MEDICAL CENTER WAS $23,404,480 AS OF JUNE 30, 2014. --------------------
TAX-EXEMPT BONDS- ADDITIONAL DETAIL FOR PROCEEDS OF ISSUES FORM 990, SCHEDULE K, PART II, LINE 3 FOR PA HIGHER ED FACILITIES AUTHORITY- SERIES A 2009, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $173,732 IN TOTAL INVESTMENT EARNINGS. FOR PA HIGHER ED FACILITIES AUTHORITY- SERIES A 2011, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $5,086 IN TOTAL INVESTMENT EARNINGS. FOR PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES B 2005, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $1,165,427 IN TOTAL INVESTMENT EARNINGS. FOR PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A 2011, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $297 IN TOTAL INVESTMENT EARNINGS. FOR PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A 2012, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $27,570 IN TOTAL INVESTMENT EARNINGS. ------------------
TAX-EXEMPT BONDS- ADDITIONAL DETAIL FOR PRIVATE BUSINESS USE PERCENTAGES FORM 990, SCHEDULE K, PART III FOR THE PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A OF 2014, UPHS SERIES A OF 2012, UPHS SERIES A OF 2011, SERIES A OF 2011, SERIES A OF 2009, AND UPHS SERIES A OF 2008, THE UNIVERSITY HAS SPECIFICALLY ALLOCATED EQUITY TO ALL SOURCES OF PRIVATE BUSINESS USE, WITH THE EXCEPTION OF ISSUANCE COSTS, WITHIN THE REQUIRED TIME FRAME. AS SUCH, THE UNIVERSITY HAS REPORTED NO PRIVATE BUSINESS USE FOR THESE BOND SERIES ON FORM 990, SCHEDULE K, PART III, LINES 4 AND 5.
Schedule K (Form 990) 2013

Additional Data


Software ID:  
Software Version:  

Schedule K
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information on Tax Exempt Bonds
SchKMediumBullet Complete if the organization answered "Yes" to Form 990, Part IV, line 24a. Provide descriptions,
explanations, and any additional information in Part VI.
SchKMediumBullet Attach to Form 990. SchKMediumBullet See separate instructions.
SchKMediumBulletInformation about Schedule K (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public
Inspection
Name of the organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
 
Employer identification number
23-1352685
Part I
Bond Issues
(a) Issuer name (b) Issuer EIN (c) CUSIP # (d) Date issued (e) Issue price (f) Description of purpose (g) Defeased (h) On
behalf of
issuer 		(i) Pool
financing
Yes No Yes No Yes No
A PA HIGHER ED FACILITIES AUTHORITY- SERIES A&B 2005
  		22-2243852 70917NR97 01-12-2005 112,618,284 REFUND 1995 BONDS; SPRINKLER SYSTM   X   X   X
B PA HIGHER ED FACILITIES AUTHORITY- SERIES C 2005
  		22-2243852 70917N7V0 08-18-2005 146,112,644 REDEEM 1998 BONDS; CAP PROJECTS   X   X   X
C PA HIGHER ED FACILITIES AUTHORITY- SERIES A 2009
  		22-2243852 70917RUS2 03-16-2009 228,289,883 VARIOUS CAPITAL PROJECTS   X   X   X
D PA HIGHER ED FACILITIES AUTHORITY- SERIES B 2009
  		22-2243852 70917RUS2 03-16-2009 44,226,561 REFUND 2008A (REFUNDING 2002B)   X   X   X
PA HIGHER ED FACILITIES AUTHORITY- SERIES C 2009
  		22-2243852 70917RUS2 03-16-2009 31,057,669 PARTIAL REFUND OF 1998 BONDS   X   X   X
PA HIGHER ED FACILITIES AUTHORITY- SERIES OF 2010
  		22-2243852 70917RP33 10-13-2010 77,125,325 COMPLETE REFUND OF 1998 BONDS   X   X   X
PA HIGHER ED FACILITIES AUTHORITY- SERIES A 2011
  		22-2243852 70917RS30 03-02-2011 150,994,928 CONSTRUCTION/RENOVATION PROJECTS   X   X   X
WASHINGTON COUNTY AUTHORITY- SERIES OF 2004
  		22-2243852 938591BF0 05-27-2004 62,500,000 REDEEM 1985 BONDS   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2005
  		22-2243852 70917NX41 02-16-2005 295,526,878 REFUND SERIES A 1996   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES B 2005
  		22-2243852 70917NX41 02-16-2005 89,118,513 CTR FOR ADV MED FACILITY   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2008
  		22-2243852 70917RPY5 04-16-2008 105,805,000 REFUND PHX 2002; CAPITAL PROJECTS   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES B 2008
  		22-2243852 70917RTN5 11-05-2008 198,316,551 REFUND UPHS SERIES C&D 2005   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2011
  		22-2243852 70917RT47 03-02-2011 148,861,396 CONSTRUCTION/RENOVATION PROJECTS   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2012
  		22-2243852 70917R5B7 05-02-2012 149,995,567 EXPANSION/FACILITY ENHANCEMENT   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2014
  		22-2243852   06-12-2014 100,000,000 VARIOUS CAPITAL PROJECTS   X   X   X
Part II
Proceeds
A B C D
1 Amount of bonds retired . . . . . . . . . . . . . . 82,886,284 23,795,644 11,665,883 7,415,561
2 Amount of bonds legally defeased . . . . . . . . . . . 0 0 0 0
3 Total proceeds of issue . . . . . . . . . . . . . . 112,618,284 146,112,644 228,463,615 44,226,561
4 Gross proceeds in reserve funds . . . . . . . . . . . . 0 0 0 0
5 Capitalized interest from proceeds . . . . . . . . . . . 0 0 0 0
6 Proceeds in refunding escrows . . . . . . . . . . . . 0 0 0 0
7 Issuance costs from proceeds . . . . . . . . . . . . 273,585 945,629 1,585,008 327,620
8 Credit enhancement from proceeds . . . . . . . . . . . 0 0 0 0
9 Working capital expenditures from proceeds . . . . . . . . . 0 0 0 0
10 Capital expenditures from proceeds . . . . . . . . . . . 5,039,284 70,126,989 194,666,046 0
11 Other spent proceeds . . . . . . . . . . . . . . 107,305,415 75,040,026 32,212,561 43,898,941
12 Other unspent proceeds . . . . . . . . . . . . . . 0 0 0 0
13 Year of substantial completion . . . . . . . . . . . . 2005 2006 2011 2002
Yes No Yes No Yes No Yes No
14 Were the bonds issued as part of a current refunding issue? . . . . . X     X   X X  
15 Were the bonds issued as part of an advance refunding issue? . . . . . X   X     X   X
16 Has the final allocation of proceeds been made? . . . . . . . . X   X   X   X  
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? . . . . . . . . . . . . . . X   X   X   X  
Part III
Private Business Use
A B C D
Yes No Yes No Yes No Yes No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? . . . . . . .   X   X   X   X
2 Are there any lease arrangements that may result in private business use of bond-financed property? . . . . . . . . .   X X     X X  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) 2013
Schedule K (Form 990) 2013
Page 2
Part III
Private Business Use (Continued)
A B C D
Yes No Yes No Yes No Yes No
3a Are there any management or service contracts that may result in private business use of bond-financed property? . . . . . . . . . . . .   X   X   X X  
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property? X   X       X  
c Are there any research agreements that may result in private business use of bond-financed property? . . . . . . . . . . . . . . .   X   X   X X  
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property? X   X       X  
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government . . SchKMediumBullet 0 % 0.314 % 0 % 0 %
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government . . . . . . . SchKMediumBullet 0.350 % 0.989 % 0 % 0 %
6 Total of lines 4 and 5 . . . . . . . . . . . . . 0.350 % 1.303 % 0 % 0 %
7 Does the bond issue meet the private security or payment test? . . . . .   X   X   X   X
8a Has there been a sale or disposition of any of the bond financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?. . . . . . . . . . . . . . . . .   X   X   X   X
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of. 0 % 0 % 0 % 0 %
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? . . . . . . . . . . . . .   X   X   X   X
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under
Regulations sections 1.141-12 and 1.145-2? . . . . . . . 		X   X   X   X  
Part IV
Arbitrage
A B C D
Yes No Yes No Yes No Yes No
1 Has the issuer filed Form 8038-T? . . . . .   X   X   X   X
2 If "No" to line 1, did the following apply? . . . .
a Rebate not due yet? . . . . . . . .                
b Exception to rebate? . . . . . . . . X   X   X   X  
c No rebate due? . . . . . . . .                
If you checked "No rebate due" in line 2c, provide in
Part VI the date the rebate computation was performed
3 Is the bond issue a variable rate issue? . . . .   X   X   X   X
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?   X   X   X   X
b Name of provider . . . . . . . . . 0
  		0
  		0
  		 
 
c Term of hedge . . . . . . . . . .        
d Was the hedge superintegrated? . . . .                
e Was the hedge terminated? . . . . . .                
Schedule K (Form 990) 2013
Schedule K (Form 990) 2013
Page 3
Part IV
Arbitrage (Continued)
A B C D
Yes No Yes No Yes No Yes No
5a Were gross proceeds invested in a guaranteed investment contract (GIC)? . . . . . . . . .   X   X   X   X
b Name of provider . . . . . . . . . 0
  		0
  		0
  		0
 
c Term of GIC . . . . . . . . . . 1.58 1.58    
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? . . . . . X   X          
6 Were any gross proceeds invested beyond an available temporary period? . . . . . . . .   X   X   X   X
7 Has the organization established written procedures to monitor the requirements of section 148? . . . X   X   X   X  
Part V
Procedures To Undertake Corrective Action
A B C D
Yes No Yes No Yes No Yes No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations? X   X   X   X  
Part VI
Supplemental Information. Provide additional information for responses to questions on Schedule K (see instructions).
Return Reference Explanation
TAX-EXEMPT BONDS- ADDITIONAL CUSIP # INFORMATION FORM 990, SCHEDULE K, PART I, ROW A, ITEM C THE FOLLOWING IS AN ADDITIONAL CUSIP # FOR THE PA HIGHER ED FACILITIES AUTHORITY- SERIES A & B OF 2005- 70917NQ72 --------------------
TAX-EXEMPT BONDS- DESCRIPTION OF BOND ISSUES: ALLOCATION OF PROCEEDS FORM 990, SCHEDULE K, PART I A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY-UPHS SERIES A OF 2014 BOND ISSUE HAS BEEN ALLOCATED TO PENNSYLVANIA HOSPITAL OF UPHS (EIN 31-1538725), PRESBYTERIAN MEDICAL CENTER (EIN 23-2810852), AND TO CHESTER COUNTY HOSPITAL (EIN 23-0469150), RELATED IRC SECTION 501(C)(3) ORGANIZATIONS. SINCE THE UNIVERSITY REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE SERIES A OF 2014 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE WAS $4,000,000 FOR PENNSYLVANIA HOSPITAL, $15,000,000 FOR PRESBYTERIAN MEDICAL CENTER, AND $50,000,000 FOR CHESTER COUNTY HOSPITAL AS OF JUNE 30, 2014. A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A 2012 BOND ISSUE HAS BEEN ALLOCATED TO PENNSYLVANIA HOSPITAL OF UPHS (EIN 31-1538725) AND TO PRESBYTERIAN MEDICAL CENTER (EIN 23-2810852), RELATED IRC SECTION 501(C)(3) ORGANIZATIONS. SINCE THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA ("UNIVERSITY") REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE UPHS SERIES A 2012 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE WAS $29,669,385 FOR PENNSYLVANIA HOSPITAL AND $22,274,539 FOR PRESBYTERIAN MEDICAL CENTER AS OF JUNE 30, 2014. A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A 2011 BOND ISSUE HAS BEEN ALLOCATED TO PENNSYLVANIA HOSPITAL OF UPHS (EIN 31-1538725) AND TO PRESBYTERIAN MEDICAL CENTER (EIN 23-2810852), RELATED IRC SECTION 501(C)(3) ORGANIZATIONS. SINCE THE UNIVERSITY REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE UPHS SERIES A 2011 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE WAS $14,902,708 FOR PENNSYLVANIA HOSPITAL AND $14,902,708 FOR PRESBYTERIAN MEDICAL CENTER AS OF JUNE 30, 2014. A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY-UPHS SERIES A OF 2008 BOND ISSUE HAS BEEN ALLOCATED TO PENNSYLVANIA HOSPITAL OF UPHS (EIN 31-1538725), A RELATED IRC SECTION 501(C)(3) ORGANIZATION. SINCE THE UNIVERSITY REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE SERIES A OF 2008 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE FOR PENNSYLVANIA HOSPITAL WAS $17,993,984 AS OF JUNE 30, 2014. A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A OF 2005 BOND ISSUE HAS BEEN ALLOCATED TO PRESBYTERIAN MEDICAL CENTER (EIN 23-2810852), A RELATED IRC SECTION 501(C)(3) ORGANIZATION. SINCE THE UNIVERSITY REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE SERIES A OF 2005 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE FOR PRESBYTERIAN MEDICAL CENTER WAS $23,404,480 AS OF JUNE 30, 2014. --------------------
TAX-EXEMPT BONDS- ADDITIONAL DETAIL FOR PROCEEDS OF ISSUES FORM 990, SCHEDULE K, PART II, LINE 3 FOR PA HIGHER ED FACILITIES AUTHORITY- SERIES A 2009, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $173,732 IN TOTAL INVESTMENT EARNINGS. FOR PA HIGHER ED FACILITIES AUTHORITY- SERIES A 2011, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $5,086 IN TOTAL INVESTMENT EARNINGS. FOR PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES B 2005, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $1,165,427 IN TOTAL INVESTMENT EARNINGS. FOR PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A 2011, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $297 IN TOTAL INVESTMENT EARNINGS. FOR PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A 2012, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $27,570 IN TOTAL INVESTMENT EARNINGS. ------------------
TAX-EXEMPT BONDS- ADDITIONAL DETAIL FOR PRIVATE BUSINESS USE PERCENTAGES FORM 990, SCHEDULE K, PART III FOR THE PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A OF 2014, UPHS SERIES A OF 2012, UPHS SERIES A OF 2011, SERIES A OF 2011, SERIES A OF 2009, AND UPHS SERIES A OF 2008, THE UNIVERSITY HAS SPECIFICALLY ALLOCATED EQUITY TO ALL SOURCES OF PRIVATE BUSINESS USE, WITH THE EXCEPTION OF ISSUANCE COSTS, WITHIN THE REQUIRED TIME FRAME. AS SUCH, THE UNIVERSITY HAS REPORTED NO PRIVATE BUSINESS USE FOR THESE BOND SERIES ON FORM 990, SCHEDULE K, PART III, LINES 4 AND 5.
Schedule K (Form 990) 2013

Additional Data


Software ID:  
Software Version:  

Schedule K
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information on Tax Exempt Bonds
SchKMediumBullet Complete if the organization answered "Yes" to Form 990, Part IV, line 24a. Provide descriptions,
explanations, and any additional information in Part VI.
SchKMediumBullet Attach to Form 990. SchKMediumBullet See separate instructions.
SchKMediumBulletInformation about Schedule K (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public
Inspection
Name of the organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
 
Employer identification number
23-1352685
Part I
Bond Issues
(a) Issuer name (b) Issuer EIN (c) CUSIP # (d) Date issued (e) Issue price (f) Description of purpose (g) Defeased (h) On
behalf of
issuer 		(i) Pool
financing
Yes No Yes No Yes No
A PA HIGHER ED FACILITIES AUTHORITY- SERIES A&B 2005
  		22-2243852 70917NR97 01-12-2005 112,618,284 REFUND 1995 BONDS; SPRINKLER SYSTM   X   X   X
B PA HIGHER ED FACILITIES AUTHORITY- SERIES C 2005
  		22-2243852 70917N7V0 08-18-2005 146,112,644 REDEEM 1998 BONDS; CAP PROJECTS   X   X   X
C PA HIGHER ED FACILITIES AUTHORITY- SERIES A 2009
  		22-2243852 70917RUS2 03-16-2009 228,289,883 VARIOUS CAPITAL PROJECTS   X   X   X
D PA HIGHER ED FACILITIES AUTHORITY- SERIES B 2009
  		22-2243852 70917RUS2 03-16-2009 44,226,561 REFUND 2008A (REFUNDING 2002B)   X   X   X
PA HIGHER ED FACILITIES AUTHORITY- SERIES C 2009
  		22-2243852 70917RUS2 03-16-2009 31,057,669 PARTIAL REFUND OF 1998 BONDS   X   X   X
PA HIGHER ED FACILITIES AUTHORITY- SERIES OF 2010
  		22-2243852 70917RP33 10-13-2010 77,125,325 COMPLETE REFUND OF 1998 BONDS   X   X   X
PA HIGHER ED FACILITIES AUTHORITY- SERIES A 2011
  		22-2243852 70917RS30 03-02-2011 150,994,928 CONSTRUCTION/RENOVATION PROJECTS   X   X   X
WASHINGTON COUNTY AUTHORITY- SERIES OF 2004
  		22-2243852 938591BF0 05-27-2004 62,500,000 REDEEM 1985 BONDS   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2005
  		22-2243852 70917NX41 02-16-2005 295,526,878 REFUND SERIES A 1996   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES B 2005
  		22-2243852 70917NX41 02-16-2005 89,118,513 CTR FOR ADV MED FACILITY   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2008
  		22-2243852 70917RPY5 04-16-2008 105,805,000 REFUND PHX 2002; CAPITAL PROJECTS   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES B 2008
  		22-2243852 70917RTN5 11-05-2008 198,316,551 REFUND UPHS SERIES C&D 2005   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2011
  		22-2243852 70917RT47 03-02-2011 148,861,396 CONSTRUCTION/RENOVATION PROJECTS   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2012
  		22-2243852 70917R5B7 05-02-2012 149,995,567 EXPANSION/FACILITY ENHANCEMENT   X   X   X
PA HIGHER ED FACILITIES ATHRTY- UPHS SERIES A 2014
  		22-2243852   06-12-2014 100,000,000 VARIOUS CAPITAL PROJECTS   X   X   X
Part II
Proceeds
A B C D
1 Amount of bonds retired . . . . . . . . . . . . . . 82,886,284 23,795,644 11,665,883 7,415,561
2 Amount of bonds legally defeased . . . . . . . . . . . 0 0 0 0
3 Total proceeds of issue . . . . . . . . . . . . . . 112,618,284 146,112,644 228,463,615 44,226,561
4 Gross proceeds in reserve funds . . . . . . . . . . . . 0 0 0 0
5 Capitalized interest from proceeds . . . . . . . . . . . 0 0 0 0
6 Proceeds in refunding escrows . . . . . . . . . . . . 0 0 0 0
7 Issuance costs from proceeds . . . . . . . . . . . . 273,585 945,629 1,585,008 327,620
8 Credit enhancement from proceeds . . . . . . . . . . . 0 0 0 0
9 Working capital expenditures from proceeds . . . . . . . . . 0 0 0 0
10 Capital expenditures from proceeds . . . . . . . . . . . 5,039,284 70,126,989 194,666,046 0
11 Other spent proceeds . . . . . . . . . . . . . . 107,305,415 75,040,026 32,212,561 43,898,941
12 Other unspent proceeds . . . . . . . . . . . . . . 0 0 0 0
13 Year of substantial completion . . . . . . . . . . . . 2005 2006 2011 2002
Yes No Yes No Yes No Yes No
14 Were the bonds issued as part of a current refunding issue? . . . . . X     X   X X  
15 Were the bonds issued as part of an advance refunding issue? . . . . . X   X     X   X
16 Has the final allocation of proceeds been made? . . . . . . . . X   X   X   X  
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? . . . . . . . . . . . . . . X   X   X   X  
Part III
Private Business Use
A B C D
Yes No Yes No Yes No Yes No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? . . . . . . .   X   X   X   X
2 Are there any lease arrangements that may result in private business use of bond-financed property? . . . . . . . . .   X X     X X  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) 2013
Schedule K (Form 990) 2013
Page 2
Part III
Private Business Use (Continued)
A B C D
Yes No Yes No Yes No Yes No
3a Are there any management or service contracts that may result in private business use of bond-financed property? . . . . . . . . . . . .   X   X   X X  
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property? X   X       X  
c Are there any research agreements that may result in private business use of bond-financed property? . . . . . . . . . . . . . . .   X   X   X X  
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property? X   X       X  
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government . . SchKMediumBullet 0 % 0.314 % 0 % 0 %
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government . . . . . . . SchKMediumBullet 0.350 % 0.989 % 0 % 0 %
6 Total of lines 4 and 5 . . . . . . . . . . . . . 0.350 % 1.303 % 0 % 0 %
7 Does the bond issue meet the private security or payment test? . . . . .   X   X   X   X
8a Has there been a sale or disposition of any of the bond financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?. . . . . . . . . . . . . . . . .   X   X   X   X
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of. 0 % 0 % 0 % 0 %
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? . . . . . . . . . . . . .   X   X   X   X
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under
Regulations sections 1.141-12 and 1.145-2? . . . . . . . 		X   X   X   X  
Part IV
Arbitrage
A B C D
Yes No Yes No Yes No Yes No
1 Has the issuer filed Form 8038-T? . . . . .   X   X   X   X
2 If "No" to line 1, did the following apply? . . . .
a Rebate not due yet? . . . . . . . .                
b Exception to rebate? . . . . . . . . X   X   X   X  
c No rebate due? . . . . . . . .                
If you checked "No rebate due" in line 2c, provide in
Part VI the date the rebate computation was performed
3 Is the bond issue a variable rate issue? . . . .   X   X   X   X
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?   X   X   X   X
b Name of provider . . . . . . . . . 0
  		0
  		0
  		 
 
c Term of hedge . . . . . . . . . .        
d Was the hedge superintegrated? . . . .                
e Was the hedge terminated? . . . . . .                
Schedule K (Form 990) 2013
Schedule K (Form 990) 2013
Page 3
Part IV
Arbitrage (Continued)
A B C D
Yes No Yes No Yes No Yes No
5a Were gross proceeds invested in a guaranteed investment contract (GIC)? . . . . . . . . .   X   X   X   X
b Name of provider . . . . . . . . . 0
  		0
  		0
  		0
 
c Term of GIC . . . . . . . . . . 1.58 1.58    
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? . . . . . X   X          
6 Were any gross proceeds invested beyond an available temporary period? . . . . . . . .   X   X   X   X
7 Has the organization established written procedures to monitor the requirements of section 148? . . . X   X   X   X  
Part V
Procedures To Undertake Corrective Action
A B C D
Yes No Yes No Yes No Yes No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations? X   X   X   X  
Part VI
Supplemental Information. Provide additional information for responses to questions on Schedule K (see instructions).
Return Reference Explanation
TAX-EXEMPT BONDS- ADDITIONAL CUSIP # INFORMATION FORM 990, SCHEDULE K, PART I, ROW A, ITEM C THE FOLLOWING IS AN ADDITIONAL CUSIP # FOR THE PA HIGHER ED FACILITIES AUTHORITY- SERIES A & B OF 2005- 70917NQ72 --------------------
TAX-EXEMPT BONDS- DESCRIPTION OF BOND ISSUES: ALLOCATION OF PROCEEDS FORM 990, SCHEDULE K, PART I A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY-UPHS SERIES A OF 2014 BOND ISSUE HAS BEEN ALLOCATED TO PENNSYLVANIA HOSPITAL OF UPHS (EIN 31-1538725), PRESBYTERIAN MEDICAL CENTER (EIN 23-2810852), AND TO CHESTER COUNTY HOSPITAL (EIN 23-0469150), RELATED IRC SECTION 501(C)(3) ORGANIZATIONS. SINCE THE UNIVERSITY REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE SERIES A OF 2014 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE WAS $4,000,000 FOR PENNSYLVANIA HOSPITAL, $15,000,000 FOR PRESBYTERIAN MEDICAL CENTER, AND $50,000,000 FOR CHESTER COUNTY HOSPITAL AS OF JUNE 30, 2014. A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A 2012 BOND ISSUE HAS BEEN ALLOCATED TO PENNSYLVANIA HOSPITAL OF UPHS (EIN 31-1538725) AND TO PRESBYTERIAN MEDICAL CENTER (EIN 23-2810852), RELATED IRC SECTION 501(C)(3) ORGANIZATIONS. SINCE THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA ("UNIVERSITY") REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE UPHS SERIES A 2012 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE WAS $29,669,385 FOR PENNSYLVANIA HOSPITAL AND $22,274,539 FOR PRESBYTERIAN MEDICAL CENTER AS OF JUNE 30, 2014. A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A 2011 BOND ISSUE HAS BEEN ALLOCATED TO PENNSYLVANIA HOSPITAL OF UPHS (EIN 31-1538725) AND TO PRESBYTERIAN MEDICAL CENTER (EIN 23-2810852), RELATED IRC SECTION 501(C)(3) ORGANIZATIONS. SINCE THE UNIVERSITY REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE UPHS SERIES A 2011 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE WAS $14,902,708 FOR PENNSYLVANIA HOSPITAL AND $14,902,708 FOR PRESBYTERIAN MEDICAL CENTER AS OF JUNE 30, 2014. A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY-UPHS SERIES A OF 2008 BOND ISSUE HAS BEEN ALLOCATED TO PENNSYLVANIA HOSPITAL OF UPHS (EIN 31-1538725), A RELATED IRC SECTION 501(C)(3) ORGANIZATION. SINCE THE UNIVERSITY REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE SERIES A OF 2008 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE FOR PENNSYLVANIA HOSPITAL WAS $17,993,984 AS OF JUNE 30, 2014. A PORTION OF THE PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A OF 2005 BOND ISSUE HAS BEEN ALLOCATED TO PRESBYTERIAN MEDICAL CENTER (EIN 23-2810852), A RELATED IRC SECTION 501(C)(3) ORGANIZATION. SINCE THE UNIVERSITY REMAINS AS THE PRIMARY OBLIGOR OF THE BOND, ALL INFORMATION REGARDING THE SERIES A OF 2005 BOND ISSUE HAS BEEN REPORTED ON THE FORM 990, SCHEDULE K OF THE UNIVERSITY. THE TOTAL ALLOCATED OUTSTANDING BALANCE FOR PRESBYTERIAN MEDICAL CENTER WAS $23,404,480 AS OF JUNE 30, 2014. --------------------
TAX-EXEMPT BONDS- ADDITIONAL DETAIL FOR PROCEEDS OF ISSUES FORM 990, SCHEDULE K, PART II, LINE 3 FOR PA HIGHER ED FACILITIES AUTHORITY- SERIES A 2009, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $173,732 IN TOTAL INVESTMENT EARNINGS. FOR PA HIGHER ED FACILITIES AUTHORITY- SERIES A 2011, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $5,086 IN TOTAL INVESTMENT EARNINGS. FOR PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES B 2005, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $1,165,427 IN TOTAL INVESTMENT EARNINGS. FOR PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A 2011, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $297 IN TOTAL INVESTMENT EARNINGS. FOR PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A 2012, THE TOTAL PROCEEDS OF ISSUE REPORTED INCLUDES $27,570 IN TOTAL INVESTMENT EARNINGS. ------------------
TAX-EXEMPT BONDS- ADDITIONAL DETAIL FOR PRIVATE BUSINESS USE PERCENTAGES FORM 990, SCHEDULE K, PART III FOR THE PA HIGHER ED FACILITIES AUTHORITY- UPHS SERIES A OF 2014, UPHS SERIES A OF 2012, UPHS SERIES A OF 2011, SERIES A OF 2011, SERIES A OF 2009, AND UPHS SERIES A OF 2008, THE UNIVERSITY HAS SPECIFICALLY ALLOCATED EQUITY TO ALL SOURCES OF PRIVATE BUSINESS USE, WITH THE EXCEPTION OF ISSUANCE COSTS, WITHIN THE REQUIRED TIME FRAME. AS SUCH, THE UNIVERSITY HAS REPORTED NO PRIVATE BUSINESS USE FOR THESE BOND SERIES ON FORM 990, SCHEDULE K, PART III, LINES 4 AND 5.
Schedule K (Form 990) 2013

Additional Data


Software ID:  
Software Version:  

Schedule L
(Form 990 or 990-EZ)
Department of the Treasury
Internal Revenue Service
Transactions with Interested Persons
MediumBullet Complete if the organization answered
"Yes" on Form 990, Part IV, lines 25a, 25b, 26, 27, 28a, 28b, or 28c,
or Form 990-EZ, Part V, line 38a or 40b.
MediumBullet Attach to Form 990 or Form 990-EZ. MediumBullet See separate instructions.
MediumBulletInformation about Schedule L (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public Inspection
Name of the organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
 
Employer identification number

23-1352685
Part I
Excess Benefit Transactions (section 501(c)(3) and section 501(c)(4) organizations only).
Complete if the organization answered "Yes" on Form 990, Part IV, line 25a or 25b, or Form 990-EZ, Part V, line 40b.
1(a) Name of disqualified person (b) Relationship between disqualified person and organization (c) Description of transaction (d) Corrected?
Yes No





2
Enter the amount of tax incurred by organization managers or disqualified persons during the year under section 4958. ........................... Bullet Image$
 
3
Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ....... Bullet Image$
 

Part II
Loans to and/or From Interested Persons.
Complete if the organization answered "Yes" on Form 990-EZ, Part V, line 38a, or Form 990, Part IV, line 26; or if the organization reported an amount on Form 990, Part X, line 5, 6, or 22
(a) Name of interested person (b) Relationship with organization (c) Purpose of loan (d) Loan to or from the organization? (e)Original principal amount (f)Balance due (g) In default? (h) Approved by board or committee? (i)Written agreement?
To From Yes No Yes No Yes No
(1) AMY GUTMANN PRESIDENT, TRUSTEE EMPLOYEE LOAN   X 700,000 0   No Yes   Yes  
(2) ANDREW PORTER DEAN, GSE EMPLOYEE LOAN   X 150,000 0   No Yes   Yes  
(3) MARILYN J TAYLOR DEAN, SOD EMPLOYEE LOAN   X 150,000 0   No Yes   Yes  
Total ......Small Bullet $ 0
Part III
Grants or Assistance Benefitting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of assistance (d) Type of assistance (e) Purpose of assistance
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50056A
Schedule L (Form 990 or 990-EZ) 2013
Schedule L (Form 990 or 990-EZ) 2013
Page 2
Part IV
Business Transactions Involving Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 28a, 28b, or 28c.
(a) Name of interested person (b) Relationship between interested person and the organization (c) Amount of transaction (d) Description of transaction (e) Sharing of organization's revenues?
Yes No
(1) BLACKROCK INC COMMON TRUSTEE/OFFICER 157,707 INVESTMENT SRVCS   No
(2) COMCAST CORPORATION COMMON TRUSTEE/OFFICER 746,248 PROGRAMMING/ADVERTISING SRVCS   No
(3) GOLDMAN SACHS COMMON TRUSTEE/OFFICER 3,529,060 SWAP INTEREST PAYMENT   No
(4) GOLDMAN SACHS COMMON TRUSTEE/OFFICER 2,200,000 POSTING OF COLLATERAL/RETURNS   No
(5) JP MORGAN ASSET MANAGEMENT COMMON TRUSTEE/OFFICER 1,804,448 PENSION PLAN CONTRIBUTIONS   No
(6) XEROX COMMON TRUSTEE/DIRECTOR 1,125,827 TECHNOLOGY AND BUSINESS SRVCS   No
Part V
Supplemental Information
Provide additional information for responses to questions on Schedule L (see instructions).
Return Reference Explanation
GRANTS OR ASST. BENEFITING INT. PERSONS- FORM 990, SCHEDULE L, PART III CERTAIN OFFICERS AND/OR KEY EMPLOYEES OF THE UNIVERSITY MAY RECEIVE TUITION ASSISTANCE FROM THE ORGANIZATION. THE AMOUNT OF SUCH ASSISTANCE HAS BEEN ACCOUNTED FOR AS A COMPONENT OF OVERALL COMPENSATION REPORTED FOR EACH APPLICABLE OFFICER/KEY EMPLOYEE ON FORM 990, PART VII. AS A RESULT, PURSUANT TO THE FORM 990, SCHEDULE L INSTRUCTIONS, SUCH AMOUNTS HAVE NOT BEEN ALSO REPORTED ON SCHEDULE L, PART III. --------------------
SUPP. INFO REGARDING TRANSACTIONS- FORM 990, SCHEDULE L, PART IV, ITEM #3 THE GOLDMAN SACHS POSTING OF COLLATERAL/RETURNS SIGNIFIES COLLATERAL REQUIRED TO BE POSTED UNDER THE TERMS OF THE INTEREST RATE SWAP AGREEMENT IF CERTAIN THRESHOLDS ARE MET. THE AMOUNT REPRESENTS COLLATERAL POSTED DURING THE FISCAL YEAR. THE FULL AMOUNT OF COLLATERAL POSTED DURING THE FISCAL YEAR WAS RETURNED BY THE END OF THE FISCAL YEAR AND THERE WAS NO COLLATERAL POSTED AT FISCAL YEAR END. --------------------
ADD'L SUPP INFORMATION- FORM 990, SCHEDULE L, PART IV TRUSTEE ROBERT S. KAPITO IS ALSO AN OFFICER OF BLACKROCK, INC. TRUSTEE DAVID L. COHEN, ESQ. IS ALSO AN OFFICER OF COMCAST CORPORATION. TRUSTEE MARK O. WINKELMAN IS ALSO AN OFFICER OF GOLDMAN SACHS. TRUSTEE LEE SPELMAN DOTY IS ALSO AN OFFICER OF JP MORGAN ASSET MANAGEMENT. TRUSTEE ANN NOLAN REESE IS ALSO A DIRECTOR OF XEROX.
Schedule L (Form 990 or 990-EZ) 2013

Additional Data


Software ID:  
Software Version:  




SCHEDULE M
(Form 990)

Department of the Treasury
Internal Revenue Service
Noncash Contributions
Right pointing arrow large imageComplete if the organizations answered "Yes" on Form 990, Part IV, lines 29 or 30.
Right pointing arrow large image Attach to Form 990.
Right pointing arrow large imageInformation about Schedule M (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public Inspection
Name of the organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
 
Employer identification number

23-1352685
Part I
Types of Property
(a)
Check if applicable 		(b)
Number of contributions or items contributed 		(c)
Noncash contribution amounts reported on
Form 990, Part VIII, line 1g 		(d)
Method of determining
noncash contribution amounts
1 Art—Works of art .... X 5 275,003 FAIR MARKET VALUE
2 Art—Historical treasures . X 18 264,523 FAIR MARKET VALUE
3 Art—Fractional interests ..        
4 Books and publications .. X 940,339 FAIR MARKET VALUE
5 Clothing and household
goods ....... 		     
6 Cars and other vehicles ..        
7 Boats and planes ....        
8 Intellectual property ...        
9 Securities—Publicly traded .        
10 Securities—Closely held stock .        
11 Securities—Partnership, LLC,
or trust interests .... 		       
12 Securities—Miscellaneous .. X 1,980 164,677,906 FAIR MARKET VALUE
13 Qualified conservation
contribution—Historic
structures ..... 		       
14 Qualified conservation
contribution—Other ... 		       
15 Real estate—Residential .        
16 Real estate—Commercial ..        
17 Real estate—Other ...        
18 Collectibles .....        
19 Food inventory ...        
20 Drugs and medical supplies .        
21 Taxidermy ......        
22 Historical artifacts ....        
23 Scientific specimens ..        
24 Archeological artifacts ...        
25 Other Right pointing arrow large image ( DONATED EQUIPMENT ) X 15 1,439,193 FAIR MARKET VALUE
26 Other Right pointing arrow large image ( OTHER GIFTS IN KIND ) X 71 973,227 FAIR MARKET VALUE
27 Other Right pointing arrow large image( )
28 Other Right pointing arrow large image ( )
29
Number of Forms 8283 received by the organization during the tax year for contributions
for which the organization completed Form 8283, Part IV, Donee Acknowledgement ...
29
 
Yes
No
30a
During the year, did the organization receive by contribution any property reported in Part I, lines 1 through 28, that
it must hold for at least three years from the date of the initial contribution, and which is not required to be used
for exempt purposes for the entire holding period? ..................
30a
 
No
b
If "Yes," describe the arrangement in Part II.
31
Does the organization have a gift acceptance policy that requires the review of any non-standard contributions?
31
Yes
 
32a
Does the organization hire or use third parties or related organizations to solicit, process, or sell noncash
contributions? ..........................
32a
Yes
 
b
If "Yes," describe in Part II.
33
If the organization did not report an amount in column (c) for a type of property for which column (a) is checked,
describe in Part II.
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 51227J
Schedule M (Form 990) (2013)
Schedule M (Form 990) (2013)
Page 2
Part II
Supplemental Information. Provide the information required by Part I, lines 30b,
32b, and 33, and whether the organization is reporting in Part I, column (b), the number of contributions, the number of items received, or a combination of both. Also complete this part for any additional information.
Return Reference Explanation
UTILIZATION OF THIRD PARTIES FOR SALES- SCHEDULE M, PART I, LINE 32B IN RARE INSTANCES WHERE NON-RARE, DUPLICATE, DONATIONS OF ART, HISTORICAL ASSETS OR OTHER SIMILAR ASSETS ARE RECEIVED, SUCH ITEMS MAY BE SENT TO A NON-PROFIT VENDOR FOR RESALE. THE UNIVERSITY THEN RECEIVES A PORTION OF THE SALES PRICE. THE TOTAL ACTIVITY WITH THIS VENDOR TYPICALLY GENERATES LESS THAN $2,000 PER YEAR.
Schedule M (Form 990) (2013)
Additional Data


Software ID:  
Software Version:  
SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
MediumBullet Attach to Form 990 or 990-EZ.
MediumBullet Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.
OMB No. 1545-0047
2013
Open to Public
Inspection
Name of the organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
 
Employer identification number

23-1352685
Return Reference Explanation
BUSINESS TRANs-FORM 990, PART IV, LINE 28 & FORM 990, SCHEDULE L, PART IV DURING THE NORMAL COURSE OF ITS OPERATIONS AND AFTER APPROPRIATE REVIEW, THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA (THE "UNIVERSITY") MAY OCCASIONALLY TRANSACT BUSINESS WITH PERSONS AND/OR ORGANIZATIONS DESCRIBED ON FORM 990, PART IV, LINE 28. IN THIS REGARD, THE UNIVERSITY ADHERES TO A CONFLICT OF INTEREST POLICY AND ANY SUCH TRANSACTIONS ARE CONDUCTED AT AN ARMS-LENGTH BASIS. --------------------
FORM 990 REVIEW PROCESS- FORM 990, PART VI, SECTION B, LINE 11 THE FIRST DRAFT OF THE FEDERAL FORM 990 IS RECEIVED FROM OUR TAX CONSULTING FIRM, PRICEWATERHOUSECOOPERS LLP ("PWC"), ON OR BEFORE MARCH 15TH OF THE FILING YEAR AND REVIEWED BY THE ASSOCIATE COMPTROLLER. THE FORM 990 IS THEN DISTRIBUTED TO VARIOUS SENIOR FINANCIAL MANAGEMENT OFFICIALS, INCLUDING THE COMPTROLLER, CFO OF THE HEALTH SYSTEM, AND VICE PRESIDENT FOR FINANCE AND TREASURER PRIOR TO MEETING WITH PWC AND THE ASSOCIATE COMPTROLLER TO DISCUSS AND FINALIZE THE FORM. A "FINAL" DRAFT COPY OF THE FEDERAL FORM 990 IS DISTRIBUTED ELECTRONICALLY TO THE AUDIT AND COMPLIANCE COMMITTEE APPROXIMATELY 6 WEEKS PRIOR TO THE FILING DEADLINE. A TELECONFERENCE IS ESTABLISHED WITHIN 3 WEEKS FROM THE DISTRIBUTION DATE TO DISCUSS QUESTIONS, CONCERNS AND ISSUES. ATTENDEES INCLUDE THE MEMBERS OF THE AUDIT AND COMPLIANCE COMMITTEE, ASSOCIATE VP FOR AUDIT, COMPLIANCE AND PRIVACY, AND THE ASSOCIATE COMPTROLLER. THE FINAL COPY OF THE FEDERAL FORM 990 IS POSTED TO THE TRUSTEES' WEB SITE FOR DISTRIBUTION AND REVIEW BY ALL TRUSTEES PRIOR TO THE ACTUAL FILING DEADLINE. --------------------
CONFLICT OF INTEREST POLICY- FORM 990, PART VI, SECTION A, LINE 12C EACH COVERED PERSON* ANNUALLY SHALL COMPLETE A CONFLICT OF INTEREST QUESTIONNAIRE PROVIDED BY THE UNIVERSITY AND SHALL UPDATE SUCH QUESTIONNAIRE PROMPTLY AS NECESSARY TO REFLECT CHANGES DURING THE COURSE OF THE YEAR. FORMER BOARD MEMBERS WHO ARE NOT TRUSTEE EMERITI ARE ENCOURAGED BUT NOT REQUIRED TO COMPLETE THE QUESTIONNAIRE DURING THE FIVE-YEAR PERIOD FOLLOWING COMPLETION OF THEIR TERMS. COMPLETED QUESTIONNAIRES SHALL BE RETURNED TO THE OFFICE OF THE SECRETARY AND SHALL BE SUBJECT TO REVIEW BY SUCH OFFICE AND THE OFFICE OF THE GENERAL COUNSEL, AS WELL AS BY ANY OUTSIDE LEGAL COUNSEL AND/OR AUDITORS WHO MAY BE APPOINTED TO ADVISE THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES APPOINTED TO OVERSEE THIS POLICY. COMPLETED QUESTIONNAIRES ALSO SHALL BE AVAILABLE FOR INSPECTION BY ANY BOARD MEMBER. *COVERED PERSONS INCLUDE: (1) VOTING MEMBERS OF THE BOARD OF TRUSTEES (INCLUDING CHARTER TRUSTEES, TERM TRUSTEES, ALUMNI TRUSTEES, AND COMMONWEALTH TRUSTEES); (2) TRUSTEE EMERITI WHO HAVE SERVED IN THAT CAPACITY FOR FIVE YEARS OR LESS; (3) OTHER FORMER VOTING TRUSTEES FOR A PERIOD OF FIVE YEARS FROM THE END OF THEIR TERM AS SUCH; (4) OFFICERS AS DEFINED IN THE STATUTES; (5) MEMBERS OF THE INVESTMENT BOARD; AND (5) KEY EMPLOYEES. EACH COVERED PERSON (EXCEPT FORMER BOARD MEMBERS WHO ARE NOT TRUSTEE EMERITI) SHALL BE REQUIRED TO ACKNOWLEDGE, NOT LESS THAN ANNUALLY, THAT HE OR SHE HAS READ AND IS IN COMPLIANCE WITH THIS POLICY. --------------------
COMPENSATION PROCESS- FORM 990, PART VI, SECTION B, LINE 15 THE MEMBERSHIP OF THE COMPENSATION COMMITTEE CONSISTS OF AT LEAST 5 DISINTERESTED, VOTING MEMBERS OF THE BOARD OF THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA. THE COMMITTEE HAS THE AUTHORITY AND RESPONSIBILITY BOTH FOR PROVIDING OVERSIGHT AND REVIEW OF THE EXECUTIVE COMPENSATION PROCESS, OVERSIGHT AND REVIEW OF THE ACTUAL COMPENSATION DECISIONS, AND FOR REVIEWING ACTUAL AND PERCEIVED CONFLICT OF INTEREST TRANSACTIONS INVOLVING TRUSTEES AND STATUTORY OFFICERS ACCORDING TO GUIDELINES ESTABLISHED BY THE UNIVERSITY'S CONFLICT-OF-INTEREST POLICY AS ADOPTED BY THE BOARD OF TRUSTEES. THE COMMITTEE ADOPTS AND IMPLEMENTS EXECUTIVE COMPENSATION PRINCIPLES, AND IS ACCOUNTABLE FOR THE COMPENSATION AND BENEFITS ARRANGEMENTS OF THE PRESIDENT AND HER DIRECT REPORTS, THE STATUTORY OFFICERS, SENIOR ACADEMIC OFFICIALS, DEANS, OTHER KEY EMPLOYEES, AND ALL THOSE INDIVIDUALS WHO ARE POTENTIALLY DISQUALIFIED PERSONS WITHIN THE MEANING OF THE INTERMEDIATE SANCTIONS LEGISLATION. THE COMMITTEE MAY PERIODICALLY REVIEW THE COMPENSATION AND BENEFITS OF OTHER HIGHLY COMPENSATED INDIVIDUALS, EVEN IF THEY ARE NOT DEEMED TO EXERCISE "SUBSTANTIAL INFLUENCE" OVER THE UNIVERSITY. THE COMPENSATION SUBCOMMITTEE (CREATED TO CONFORM TO CERTAIN PROCEDURES IN DOCUMENTING REASONABLE SALARIES FOR THE OFFICERS OF THE UNIVERSITY), MEETS AT LEAST TWICE A YEAR TO REVIEW APPROPRIATE DATA, INCLUDING COMPARABLE SALARIES, IN ORDER TO REPORT ITS CONCLUSIONS AND RECOMMENDATIONS ON OFFICERS' SALARIES FOR FINAL APPROVAL. THE COMPENSATION SUBCOMMITTEE ENGAGES AN INDEPENDENT THIRD PARTY TO SERVE AS A CONSULTANT. --------------------
DOCUMENTS AVAILABLE TO PUBLIC- FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS - OFFICIAL RECORDS GENERATED OR RECEIVED BY THE ADMINISTRATIVE AND ACADEMIC OFFICES OF THE UNIVERSITY IN THE CONDUCT OF THEIR BUSINESS ARE THE PROPERTY OF THE UNIVERSITY AND MAY BECOME ARCHIVAL MATERIAL. THE ARCHIVED RECORDS ARE AVAILABLE THROUGH THE UNIVERSITY ARCHIVES AND RECORDS CENTER WEB SITE HTTP://WWW.ARCHIVES.UPENN.EDU UNDER PRIMARY SOURCES. FORM 1023 - SINCE THE UNIVERSITY HAS BEEN IN EXISTENCE SINCE 1740, THE ORGANIZATION WAS NOT REQUIRED TO FILE A FORM 1023 APPLICATION. INSTEAD, ITS IRC SECTION 501(C)(3) TAX-EXEMPT STATUS WAS GRANDFATHERED BY THE IRS. CONFLICT OF INTEREST POLICES - POLICIES, STATEMENTS, AND GUIDELINES ARE AVAILABLE TO THE PUBLIC ON THE OFFICE OF THE AUDIT, COMPLIANCE, AND PRIVACY WEB SITE AT HTTP://WWW.UPENN.EDU/AUDIT/OACP UNDER PRINCIPLES OF RESPONSIBLE CONDUCT. FINANCIAL STATEMENTS - THE UNIVERSITY'S ANNUAL REPORT IS PRODUCED BY THE OFFICE OF THE VICE PRESIDENT AND TREASURER IN CONJUNCTION WITH THE OFFICE OF THE COMPTROLLER AND INCLUDES THE UNIVERSITY'S AUDITED FINANCIAL STATEMENTS, SUMMARY OF ENDOWMENT PERFORMANCE, AND MESSAGES FROM EXECUTIVE MANAGEMENT. ANNUAL REPORTS ARE PUBLISHED AFTER THE CLOSE OF EACH FISCAL YEAR (JULY 1 TO JUNE 30) AND ARE AVAILABLE ON THE COMPTROLLER WEB SITE AT HTTP://WWW.FINANCE.UPENN.EDU/COMPTROLLER UNDER ANNUAL REPORTS. --------------------
DETAIL OF OTHER CHANGES IN NET ASSETS- FORM 990, PART XI, LINE 9 PENSION & OTHER POSTRETIREMENT PLAN ADJ. $(39,856,000)
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990 or 990-EZ) 2013

Additional Data


Software ID:  
Software Version:  
SCHEDULE R
(Form 990)
Department of the Treasury
Internal Revenue Service
Related Organizations and Unrelated Partnerships
MediumBulletComplete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
MediumBulletAttach to Form 990. MediumBullet See separate instructions.
MediumBullet Information about Schedule R (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047
2013
Open to Public Inspection
Name of the organization
TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA
 
Employer identification number

23-1352685
Part I
Identification of Disregarded Entities Complete if the organization answered "Yes" on Form 990, Part IV, line 33.
(a)
Name, address, and EIN (if applicable) of disregarded entity


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Total income


 		(e)
End-of-year assets


 		(f)
Direct controlling
entity
(1) RA CITRUS-HEIGHT REMAINDERCO LLC
6162 SAN JUAN AVE
CITRUS HEIGHTS,CA95610
13-4018559 		REMAINDER CA 0 0 NA
 
(2) RA FLINT REMAINDERCO LLC
5014 CLIO ROAD
FLINT,MI48501
13-4018594 		REMAINDER MI 0 0 NA
 
(3) RA GIBBSTOWN REMAINDERCO LLC
380 HARMONY ROAD
GIBBSTOWN,NJ08027
23-1352685 		REMAINDER NJ 0 0 NA
 
(4) RA BLYTHE REMAINDERCO LLC
890 E HOBSON WAY
BLYTHE,CA92225
23-1352685 		REMAINDER CA 0 0 NA
 
(5) RA CLAREMONT REMAINDERCO LLC
45-99 WASHINGTON STREET
CLAREMONT,NH03743
23-1352685 		REMAINDER NH 0 0 NA
 
(6) RA03 NEW OXFORD REMAINDERCO LLC
5675 YORK ROAD
NEW OXFORD,PA17350
23-1352685 		REMAINDER PA 0 0 NA
 
(7) UNIV OF PENN USA FOUNDATION LTD
19 NORCOTT ROAD
LONDON,ENGLANDN167EJ
UK
98-0387770 		CHARITY UK 1,190,807 2,329,970 TRUSTEES
 
(8) UNIV OF PENN (HK) FND LIMITED
ROOM 8 7/F K WAH CENTRE
191 JAVA RD,HONG KONG  
HK
98-1062727 		CHARITY HK 7,745 258,212 TRUSTEES
 
(9) LEARNING ALLIANCE LLC
1398 WLIMINGTON PIKE
WEST CHESTER,PA19383
56-2351966 		EDUCATIONAL PA -25,370 2,763,891 TRUSTEES
 
Part II
Identification of Related Tax-Exempt Organizations Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.
(a)
Name, address, and EIN of related organization


(b)
Primary activity


 		(c)
Legal domicile (state
or foreign country)

 		(d)
Exempt Code section


 		(e)
Public charity status
(if section 501(c)(3))

 		(f)
Direct controlling
entity

 		(g)
Section 512(b)(13) controlled entity?
Yes No
(1) ABRAMSON INSTITUTE

1086 PENLLYN BLUE BELL PIKE

BLUE BELL,PA19422
23-2929823 		MED RESEARCH PA 501(C)(3) 4 NA
 
 
No
(2) CLINICAL CARE ASSOCIATES OF UPHS

250 KING OF PRUSSIA RD 4TH FL

RADNOR,PA19087
23-2729852 		HEALTHCARE PA 501(C)(3) 9 TRUSTEES
 
Yes
 
(3) UNIVERSITY CLUB AT PENN INC

3611 WALNUT STREET

PHILADELPHIA,PA19104
23-6299508 		FAC. CLUB PA 501(C)(3) 11, A TRUSTEES
 
Yes
 
(4) FRANKLIN SPECIALTY PHYSICIANS

3451 WALNUT STREET

PHILADELPHIA,PA19104
23-2992715 		SUPPORT ORG PA 501(C)(3) 11, B PA HOSPITAL
 
Yes
 
(5) HALL MERCER HOSPITAL

1735 MARKET STREET

PHILADELPHIA,PA19103
23-6002383 		SUPPORT ORG PA 501(C)(3) 11, A NA
 
 
No
(6) OAP INC

3451 WALNUT STREET ROOM 329

PHILADELPHIA,PA19104
23-1986931 		SUPPORT ORG PA 501(C)(3) 11, A TRUSTEES
 
Yes
 
(7) PENN CENTER FOR REHAB AND CARE

3609 CHESTNUT STREET

PHILADELPHIA,PA19104
23-2422635 		HEALTHCARE PA 501(C)(3) 3 PMC
 
Yes
 
(8) PENN CLUB OF NEW YORK INC

30 WEST 44TH STREET

NEW YORK,NY10036
23-2726687 		CLUB NY 501(C)(7) N/A NA
 
 
No
(9) PENN PRAXIS INC

210 SOUTH 34TH STREET

PHILADELPHIA,PA19104
75-2974931 		SUPPORT ORG PA 501(C)(3) 11, A TRUSTEES
 
Yes
 
(10) PENN PRESS INC

3905 SPRUCE STREET

PHILADELPHIA,PA19107
23-1876142 		PUBLISHING PA 501(C)(3) 11, A TRUSTEES
 
Yes
 
(11) PENNSYLVANIA HOSPITAL OF UPHS

800 SPRUCE STREET

PHILADELPHIA,PA19107
31-1538725 		HEALTHCARE PA 501(C)(3) 3 TRUSTEES
 
Yes
 
(12) PGH DEVELOPMENT CORP

426 CURIE BLVD

PHILADELPHIA,PA19104
23-2351015 		SUPPORT ORG PA 501(C)(3) 11, A NA
 
 
No
(13) PHOENIXVILLE HOSPITAL OF UPHS

3001 MARKET STREET 3RD FLOOR

PHILADELPHIA,PA19104
23-2901089 		SUPPORT ORG PA 501(C)(3) 11, B TRUSTEES
 
Yes
 
(14) PRESBYTERIAN ANESTHESIOLOGY FOUNDATION

51 NORTH 39TH STREET

PHILADELPHIA,PA19104
23-2561573 		SUPPORT ORG PA 501(C)(3) 11, B PMC
 
Yes
 
(15) PRESBYTERIAN MEDICAL CENTER OF UPHS

51 NORTH 39TH STREET

PHILADELPHIA,PA19104
23-2810852 		HEALTHCARE PA 501(C)(3) 3 TRUSTEES
 
Yes
 
(16) PRESBYTERIAN MULTI-SPECIALTY GROUP

51 NORTH 39TH STREET

PHILADELPHIA,PA19104
23-2723154 		HEALTHCARE PA 501(C)(3) 3 PMC
 
Yes
 
(17) PRESBYTERIAN PERSONAL CARE RESIDENCE

51 NORTH 39TH STREET

PHILADELPHIA,PA19104
23-2294713 		HEALTHCARE PA 501(C)(3) 3 PMC
 
Yes
 
(18) SAY YES TO EDUCATION FOUNDATION

3451 WALNUT STREET ROOM 329

PHILADELPHIA,PA19104
22-2883885 		EDU SUPPORT PA 501(C)(3) 11, C TRUSTEES
 
Yes
 
(19) SS HUEBNER FOUNDATION FOR INSURANCE EDUC

3000 STEINBERG HALL

PHILADELPHIA,PA19104
23-6297325 		EDU SUPPORT PA 501(C)(3) 11, A NA
 
 
No
(20) UNIVERSITY CITY ASSOCIATES INC

3451 WALNUT STREET ROOM 329

PHILADELPHIA,PA19104
23-3021159 		SUPPORT ORG PA 501(C)(3) 11, A TRUSTEES
 
Yes
 
(21) UPENN RETIREE BENEFITS TRUST

3451 WALNUT STREET ROOM 329

PHILADELPHIA,PA19104
23-2769744 		BENEFITS PA 501(C)(3) 11, A TRUSTEES
 
Yes
 
(22) WISSAHICKON HOSPICE OF UPHS

150 MONUMENT ROAD SUITE 300

BALA CYNWYD,PA19004
23-2152662 		HOSPICE CARE PA 501(C)(3) 9 TRUSTEES
 
Yes
 
(23) WOMEN'S AND CHILDREN'S HEALTH SERVICES

700 SPRUCE STREET

PHILADELPHIA,PA19106
23-2248956 		HEALTHCARE PA 501(C)(3) 3 PA HOSPITAL
 
Yes
 
(24) THE ASC TRUST OF THE UNIV OF PA

1500 MARKET ST STE 3500E

PHILADELPHIA,PA19102
81-0550464 		SUPPORT ORG PA 501(C)(3) 11, D NA
 
 
No
(25) UPENN INTERNATIONAL

3451 WALNUT STREET SUITE 731

PHILADELPHIA,PA19104
45-4985731 		SUPPORT ORG PA 501(C)(3) 11, A TRUSTEES
 
Yes
 
(26) THE CHESTER COUNTY HOSPITAL

701 E MARSHALL STREET

WEST CHESTER,PA19380
23-0469150 		Hospital PA 501(C)(3) 7 CCH&HS
 
Yes
 
(27) NEIGHBORHOOD HEALTH AGENCIES INC

795 E MARSHALL STREET

WEST CHESTER,PA19380
23-2324782 		NURSING PA 501(C)(7) 11, A CCH&HS
 
Yes
 
(28) NEIGHBORHOOD VISITING NURSE ASSOCIATION

795 E MARSHALL STREET

WEST CHESTER,PA19380
23-1352243 		NURSING PA 501(C)(3) 7 CCH&HS
 
Yes
 
(29) NEIGHBORHOOD LEAGUE HEALTH SERVICES

795 E MARSHALL STREET

WEST CHESTER,PA19380
23-2324787 		HEALTH SERV. PA 501(C)(3) 9 CCH&HS
 
Yes
 
(30) CHESTER COUNTY HOSPITAL & HEALTH SYSTEM

701 E MARSHALL STREET

WEST CHESTER,PA19380
26-4233321 		MGMT SERV. PA 501(C)(3) 11, A TRUSTEES
 
Yes
 
(31) UPENN MASTER RETIREMENT TRUST

3451 WALNUT STREET ROOM 305

PHILADELPHIA,PA19106
04-3574136 		RETIRE TRUST PA 501(A) N/A TRUSTEES
 
Yes
 
(32) CARL V S PATTERSON 19 UN OF PA

C/O PNC BANK 620 LIBERTY AVE 10FL

PITTSBURGH,PA15222
23-6415355 		SUPPORT TRUST PA 4947(A)(1) N/A NA
 
 
No
(33) MORRIS EST LYDIA T DECD TW

1525 W WT HARRIS BLVD

CHARLOTTE,NC28262
23-6210940 		SUPPORT TRUST NC 501(C)(3) 11, C NA
 
 
No
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) 2013
Schedule R (Form 990) 2013
Page 2
Part III
Identification of Related Organizations Taxable as a Partnership Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a partnership during the tax year.
(a)
Name, address, and EIN of
related organization



 		(b)
Primary activity




 		(c)
Legal
domicile
(state or foreign
country)


 		(d)
Direct controlling
entity



 		(e)
Predominant income(related, unrelated, excluded from tax under sections 512-514)

(f)
Share of total income




 		(g)
Share of end-of-year
assets



 		(h)
Disproprtionate allocations?




 		(i)
Code V-UBI
amount in box 20 of
Schedule K-1
(Form 1065)
 		(j)
General or
managing
partner?



 		(k)
Percentage
ownership
Yes No Yes No
(1) NEIGHBRHD PRES & DEV FUND LP

240 NEW YORK DR STE 1
FORT WASHINGTON,PA19034
23-3037919 		RENTAL PA UCA
  		              No  
(2) SISU CAP PRIV EQUITY FUND B

1 RED PLACE
  LOW1K 6PL
UK
INVESTMENT UK TRUSTEES
  		EXCLUDED FROM TAX -6,799,525 3,880,885   No 0   No 58.980 %
(3) SISU CAP PRIV EQUITY FUND E

1 RED PLACE
  LOW1K 6PL
UK
INVESTMENT UK TRUSTEES
  		EXCLUDED FROM TAX -59,696 2,977,027   No 0   No 74.548 %
(4) DVG 1740 FUND LP

ONE FAWCETT PLACE
GREENWICH,CT06830
80-0961539 		INVESTMENT CT TRUSTEES
  		EXCLUDED FROM TAX 218,587 40,636,763   No 0   No 100.000 %
(5) GALLOPAVO LP

2000 McKINNEY AVE STE 2125
DALLAS,TX75201
46-4621967 		INVESTMENT TX TRUSTEES
  		EXCLUDED FROM TAX -5,139,456 171,440,658   No 0   No 100.000 %
(6) FERN HILL PARTNERSHIP III LP

929 SOUTH HIGH STREET
WEST CHESTER,PA19382
30-0409614 		RENTAL PA THHS
  		              No  
(7) FERN HILL LLC

929 SOUTH HIGH STREET
WEST CHESTER,PA19382
23-3005147 		RENTAL PA THHS
  		              No  
(8) OAKLANDS WAY MEDICAL BUILDING ASSOCIATES

929 SOUTH HIGH STREET
WEST CHESTER,PA19382
83-0490251 		RENTAL PA THHS
  		              No  
Part IV
Identification of Related Organizations Taxable as a Corporation or Trust Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year.
(a)
Name, address, and EIN of
related organization
 		(b)
Primary activity
 		(c)
Legal
domicile
(state or foreign
country)
 		(d)
Direct controlling
entity
 		(e)
Type of entity
(C corp, S corp,
or trust) 		(f)
Share of total income
 		(g)
Share of end-of-year
assets
 		(h)
Percentage
ownership
 		(i)
Section 512(b)(13) controlled entity?
Yes No
(1) CLINICAL HEALTH CARE ASSOC

250 KING OF PRUSSIA ROAD 4TH FLOOR
RADNOR,PA190875220
23-2865181 		PHYS MGMT PA CCA
  		CORPORATION       Yes  
(2) DELANCEY CORPORATION

510 WALNUT STREET SUITE 420
PHILADELPHIA,PA19106
23-2060159 		RENTAL PA PA HOSPITAL
  		CORPORATION       Yes  
(3) FRANKLIN CASUALTY INSURANCE CO

PO BOX 350
BURLINGTON,VT054020530
04-3378984 		INSURANCE VT TRUSTEES
  		CORPORATION -150,943 27,254,121 100.000 % Yes  
(4) PENN TOWER HOTEL INC

3401 WALNUT STREET SUITE 440A
PHILADELPHIA,PA19104
23-2812573 		HOTEL/RESTAUR PA TRUSTEES
  		CORPORATION 1,608,080 13,661,272 100.000 % Yes  
(5) PRESBYTERIAN MEDICAL SERVICES

39TH AND MARKET STREET
PHILADELPHIA,PA19104
23-2307991 		HEALTHCARE PA PMC
  		CORPORATION       Yes  
(6) QUAKER INSURANCE COMPANY LTD

3451 WALNUT ST ROOM 329
PHILADELPHIA,PA19104
30-0708282 		SELF-INSURANC BD TRUSTEES
  		CORPORATION 10,850,666 180,155,994 100.000 % Yes  
(7) PENN WHARTON CONSULTING (BEIJING) CO LTD

CHINA WORLD TOWER 1 14F
CHAOYANG DIST.,BEIJING100004
CH
EDUCATION CH UPENN INT'L
  		WOFE       Yes  
(8) NAYA 1740 FUND LTD

PO BOX 309 UGLAND HOUSE
  GRAND CAYMANKY1-1104
CJ
INVESTMENTS CJ TRUSTEES
  		FOREIGN CORP 8,668,303 156,008,871 100.000 % Yes  
(9) PINE RIVER 1740 FUND LTD

PO BOX 309 UGLAND HOUSE
  GRAND CAYMANKY1-1104
CJ
98-1110661 		INVESTMENTS CJ TRUSTEES
  		FOREIGN CORP 1,004,998 121,335,240 100.000 % Yes  
(10) PINE RIVER 1740 TACTICAL FUND LTD

PO BOX 309 UGLAND HOUSE
  GRAND CAYMANKY1-1104
CJ
98-1110518 		INVESTMENTS CJ TRUSTEES
  		FOREIGN CORP 98,465 36,787,865 100.000 % Yes  
(11) TURK'S HEAD HEALTH SERVICES

701 E MARSHALL STREET
WEST CHESTER,PA19380
23-2329753 		MEDICAL SERV. PA CCH&HS
  		CORPORATION       Yes  
(12) PROFESSIONAL PROVIDERS INC

701 E MARSHALL STREET
WEST CHESTER,PA19380
23-3076589 		PHYSICIAN SERV. PA CCH&HS
  		CORPORATION       Yes  
(13) CHESTER COUNTY OBGYN ASSOCIATES INC

701 E MARSHALL STREET
WEST CHESTER,PA19380
30-0073633 		OB/GYN SERV. PA CCH&HS
  		CORPORATION       Yes  
(14) CHARITABLE REMAINDER TRUSTS (67)

 
 
N/A PA NA
  		REMAINDER TRUST         No
Schedule R (Form 990) 2013
Schedule R (Form 990) 2013
Page 3
Part V
Transactions With Related Organizations Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.
Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.
Yes
No
1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?
a Receipt of (i) interest (ii) annuities (iii) royalties or (iv) rent from a controlled entity . . . . . . . . . . . . . . . . . . . . . . .
1a
Yes
 
b Gift, grant, or capital contribution to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1b
Yes
 
c Gift, grant, or capital contribution from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1c
 
No
d Loans or loan guarantees to or for related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1d
Yes
 
e Loans or loan guarantees by related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1e
 
No
f Dividends from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1f
 
 
g Sale of assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1g
 
No
h Purchase of assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1h
 
No
i Exchange of assets with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1i
 
No
j Lease of facilities, equipment, or other assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1j
 
No
k Lease of facilities, equipment, or other assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . .
1k
Yes
 
l Performance of services or membership or fundraising solicitations for related organization(s) . . . . . . . . . . . . . . . . . . . .
1l
 
No
m Performance of services or membership or fundraising solicitations by related organization(s) . . . . . . . . . . . . . . . . . . . .
1m
 
No
n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) . . . . . . . . . . . . . . . . . . . . .
1n
Yes
 
o Sharing of paid employees with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1o
Yes
 
p Reimbursement paid to related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1p
Yes
 
q Reimbursement paid by related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1q
Yes
 
r Other transfer of cash or property to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1r
Yes
 
s Other transfer of cash or property from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1s
Yes
 
2
If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.
(a)
Name of related organization 		(b)
Transaction
type (a-s) 		(c)
Amount involved 		(d)
Method of determining amount involved
(1) DVG 1740 FUND LP

 B 40,000,000 FMV
(2) FRANKLIN CASUALTY INSURANCE CO

 R 44,391,820 FMV
(3) GALLOPAVO LP

 B 100,000,000 FMV
(4) NAYA 1740 FUND LTD

 B 60,000,000 FMV
(5) PENN PRAXIS INC

 O,R 501,285 FMV
(6) PENN TOWER HOTEL INC

 A 1,500,000 FMV
(7) PENNSYLVANIA HOSPITAL OF UPHS

 K,O,P 42,539,125 FMV
(8) PRESBYTERIAN MEDICAL CENTER OF UPHS

 K,O,P 48,508,150 FMV
(9) UPENN INTERNATIONAL

 B 4,206,506 FMV
(10) UPENN RETIREE BENEFITS TRUST

 B 28,596,732 FMV
(11) WISSAHICKON HOSPICE OF UPHS

 O,P,R 2,620,034 FMV
Schedule R (Form 990) 2013
Schedule R (Form 990) 2013
Page 4
Part VI
Unrelated Organizations Taxable as a Partnership Complete if the organization answered "Yes" on Form 990, Part IV, line 37.
Provide the following information for each entity taxed as a partnership through which the organization conducted more than five percent of its activities (measured by total assets or gross revenue) that was not a related organization. See instructions regarding exclusion for certain investment partnerships.
(a)
Name, address, and EIN of entity 		(b)
Primary activity 		(c)
Legal domicile
(state or foreign
country) 		(d)
Predominant income (related, unrelated, excluded from tax under sections 512-514)

(e)
Are all partners
section
501(c)(3)
organizations? 		(f)
Share of total income




 		(g)
Share of
end-of-year
assets 		(h)
Disproprtionate allocations? 		(i)
Code V?UBI
amount in box 20
of Schedule K-1
(Form 1065) 		(j)
General or
managing
partner? 		(k)
Percentage
ownership
Yes No Yes No Yes No






























Schedule R (Form 990) 2013
Schedule R (Form 990) 2013
Page 5
Part VII
Supplemental Information
Provide additional information for responses to questions on Schedule R (see instructions).
Return Reference Explanation
DETAIL OF CHAR. REMAINDER TRUSTS- FORM 990, SCHEDULE R, PART IV, LINE 4 AS OF JUNE 30, 2014, THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA (THE "UNIVERSITY") HELD INTERESTS IN 2 CHARITABLE REMAINDER TRUSTS IN FLORIDA, 1 CHARITABLE REMAINDER TRUST IN NEW YORK AND 64 CHARITABLE REMAINDER TRUSTS IN PENNSYLVANIA WHERE THE UNIVERSITY HAD MORE THAN 50% OF THE BENEFICIAL INTERESTS IN THE TRUSTS.
Schedule R (Form 990) 2013
Additional Data


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