TY 2014 Form 990

(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)	(E) Reportable compensation from related organizations (W- 2/1099-MISC)
(1) JOHN HENNESSY........................................................................ PRESIDENT/TRUSTEE	50.0 .......................0.0	X	X	884,765	381,558
(2) FRED W ALVAREZ........................................................................ TRUSTEE	2.0 .......................0.0	X		0	0
(3) ROBERT M BASS........................................................................ TRUSTEE	2.0 .......................0.0	X		0	0
(4) BROOK H BYERS........................................................................ TRUSTEE	2.0 .......................0.0	X		0	0
(5) JAMES E CANALES........................................................................ TRUSTEE	2.0 .......................0.0	X		0	0
(6) BRET E COMOLLI........................................................................ TRUSTEE, APPOINTED 4/1/15	2.0 .......................2.0	X		0	0
(7) ROANN COSTIN........................................................................ TRUSTEE	2.0 .......................0.0	X		0	0
(8) JAMES G COULTER........................................................................ Trustee	2.0 .......................0.0	X		0	0
(9) DEBORAH A DECOTIS........................................................................ TRUSTEE	2.0 .......................0.0	X		0	0
(10) STEVEN A DENNING........................................................................ TRUSTEE	2.0 .......................0.0	X		0	0
(11) BRUCE W DUNLEVIE........................................................................ TRUSTEE	2.0 .......................0.0	X		0	0
(12) ANGELA S FILO........................................................................ TRUSTEE, APPOINTED 4/1/15	2.0 .......................0.0	X		0	0
(13) ARMANDO GARZA........................................................................ TRUSTEE	2.0 .......................0.0	X		0	0
(14) JOHN A GUNN........................................................................ TRUSTEE	2.0 .......................2.0	X		0	0
(15) GAIL B HARRIS........................................................................ TRUSTEE	2.0 .......................0.0	X		0	0
(16) CHRISTINE U HAZY........................................................................ TRUSTEE	2.0 .......................0.0	X		0	0
(17) RONALD B JOHNSON........................................................................ TRUSTEE	2.0 .......................2.0	X		0	0

(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)	(E) Reportable compensation from related organizations (W- 2/1099-MISC)	(F) Estimated amount of other compensation from the organization and related organizations
(18) LATONIA G KARR........................................................................ TRUSTEE	2.0 .......................0.0	X					0	0
(19) FRANK D LEE........................................................................ TRUSTEE	2.0 .......................3.0	X					0	0
(20) BERNARD LIAUTAUD........................................................................ TRUSTEE	2.0 .......................0.0	X					0	0
(21) SUSAN R MCCAW........................................................................ TRUSTEE	2.0 .......................0.0	X					0	0
(22) LLOYD M METZ........................................................................ TRUSTEE	2.0 .......................0.0	X					0	0
(23) HAMID R MOGHADAM........................................................................ TRUSTEE	2.0 .......................0.0	X					0	0
(24) KENNETH E OLIVIER........................................................................ TRUSTEE, APPOINTED 12/1/14	2.0 .......................0.0	X					0	0
(25) PAUL A ORMOND........................................................................ TRUSTEE	2.0 .......................0.0	X					0	0
(26) RUTH M PORAT........................................................................ TRUSTEE	2.0 .......................0.0	X					0	0
(27) LAURENE POWELL JOBS........................................................................ TRUSTEE	2.0 .......................0.0	X					0	0
(28) JEFFREY S RAIKES........................................................................ TRUSTEE	2.0 .......................0.0	X					0	0
(29) MINDY B ROGERS........................................................................ TRUSTEE	2.0 .......................3.0	X					0	0
(30) VICTORIA B ROGERS........................................................................ TRUSTEE	2.0 .......................0.0	X					0	0
(31) KAVITARK RAM SHRIRAM........................................................................ TRUSTEE	2.0 .......................0.0	X					0	0
(32) RONALD P SPOGLI........................................................................ TRUSTEE	2.0 .......................0.0	X					0	0
(33) SRINIJA SRINIVASAN........................................................................ TRUSTEE	2.0 .......................0.0	X					0	0
(34) ISAAC STEIN........................................................................ TRUSTEE	2.0 .......................0.5	X					0	0
(35) THOMAS F STEYER........................................................................ TRUSTEE	2.0 .......................0.0	X					0	0
(36) GENE SYKES........................................................................ TRUSTEE	2.0 .......................0.0	X					0	0
(37) VAUGHN C WILLIAMS........................................................................ TRUSTEE	2.0 .......................3.0	X					0	0
(38) JERRY YANG........................................................................ TRUSTEE	2.0 .......................0.0	X					0	0
(39) JOHN ETCHEMENDY........................................................................ PROVOST	50.0 .......................0.0		X				648,855	399,616
(40) RANDALL LIVINGSTON........................................................................ VP BUS AFFAIRS/CFO	50.0 .......................0.0		X				567,212	186,086
(41) MARTIN SHELL........................................................................ VP DEVELOPMENT	50.0 .......................0.0		X				669,960	180,473
(42) DEBRA ZUMWALT........................................................................ VP GENERAL COUNSEL	50.0 .......................0.0		X				601,384	71,038
(43) ROBERT C REIDY........................................................................ VP LAND, BUILDINGS & REAL EST	50.0 .......................0.0		X				706,789	164,329
(44) DAVID DEMAREST........................................................................ VP PUBLIC AFFAIRS	50.0 .......................0.0		X				730,357	51,676
(45) HOWARD WOLF........................................................................ PRES. OF STANFORD ALUM. ASSOC.	50.0 .......................0.0		X				400,868	56,761
(46) WILLIAM MADIA........................................................................ VP SLAC NAL	38.0 .......................0.0		X				488,855	29,022
(47) DAVID JONES........................................................................ VP HR, THROUGH 7/10/15	50.0 .......................0.0		X				349,715	50,922
(48) JOHN POWERS........................................................................ PRESIDENT, SMC, THROUGH 5/1/15	50.0 .......................0.0			X			2,391,674	200,182
(49) LLOYD B MINOR........................................................................ DEAN, SCHOOL OF MEDICINE	50.0 .......................7.0			X			1,599,819	372,985
(50) RICHARD SALLER........................................................................ DEAN, SCHOOL OF HUM & SCIENCES	50.0 .......................0.0			X			574,969	37,429
(51) GARY STEINBERG........................................................................ CHAIR, NEUROSURGERY	50.0 .......................0.0				X		1,306,634	51,544
(52) YIPING WOO........................................................................ PROF. & CHAIR, CARDIO SURGERY	50.0 .......................0.0				X		1,697,087	37,964
(53) DAVID SHAW........................................................................ DIRECTOR OF FOOTBALL	50.0 .......................0.0				X		3,329,704	737,515
(54) FRANK HANLEY........................................................................ CHIEF, PED CARDIOTHORACIC	50.0 .......................0.0				X		1,889,970	51,242
(55) MARK HAYES........................................................................ MNG DIR., SMC, THROUGH 11/7/14	50.0 .......................0.0				X		1,329,588	52,787
(56) PHILIP A PIZZO........................................................................ PROF & FORMER DEAN, SCH OF MED	50.0 .......................2.0					X	679,208	33,123

(A) Name and business address	(B) Description of services	(C) Compensation
THE WHITING-TURNER CONTRACTING CO, PO BOX 17596 BALTIMORE,MD212971596	CONSTRUCTION	188,521,107
VANCE BROWN INC, 3197 PARK BOULEVARD PALO ALTO,CA94306	CONSTRUCTION	71,022,582
DEVCON CONSTRUCTION INC, 690 GIBRALTAR DR MILPITAS,CA95035	CONSTRUCTION	67,739,148
MCCARTHY BUILDING COMPANIES INC, 2665 N 1st St 102 SAN JOSE,CA95134	CONSTRUCTION	17,958,366
HATHAWAY DINWIDDIE CONSTRUCTION CO, 565 LAURELWOOD RD SANTA CLARA,CA950542419	CONSTRUCTION	17,209,569
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 758

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 domestic organizations and domestic governments. See Part IV, line 21 ....	21,328,000	21,328,000
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ....	401,194,864	401,194,864
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16 ............	8,158,666	8,158,666
4	Benefits paid to or for members ....	0
5	Compensation of current officers, directors, trustees, and key employees ....	10,952,387	3,833,335	6,242,861	876,191
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ....	527,177	337,393		189,784
7	Other salaries and wages ....	2,267,992,619	2,084,254,313	131,949,166	51,789,140
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	139,984,752	119,225,991	17,027,580	3,731,181
9	Other employee benefits .......	303,282,698	261,658,094	33,147,384	8,477,220
10	Payroll taxes ...........	125,968,366	106,019,127	16,456,721	3,492,518
11	Fees for services (non-employees):
a	Management ......	2,873,657	2,662,872	210,785
b	Legal .........	11,779,288	1,047,833	10,631,788	99,667
c	Accounting ...........	865,312	218,174	646,866	272
d	Lobbying ...........	65,986	6,599	59,387
e	Professional fundraising services. See Part IV, line 17	731,997			731,997
f	Investment management fees ......	59,622,713		59,622,713
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) ....	223,108,408	177,682,074	42,101,143	3,325,191
12	Advertising and promotion ....	5,586,321	5,477,426	26,951	81,944
13	Office expenses .......	286,583,581	251,919,981	29,670,130	4,993,470
14	Information technology ......	26,733,092	16,636,959	9,441,395	654,738
15	Royalties ..	8,459,915	3,788,793	4,653,330	17,792
16	Occupancy ...........	203,328,116	180,666,667	20,129,239	2,532,210
17	Travel ............	78,123,491	72,154,805	3,766,046	2,202,640
18	Payments of travel or entertainment expenses for any federal, state, or local public officials ......	5,422		5,422
19	Conferences, conventions, and meetings ....	16,444,027	14,519,668	1,728,565	195,794
20	Interest ...........	89,314,361	85,918,716	2,835,952	559,693
21	Payments to affiliates .......	0
22	Depreciation, depletion, and amortization .....	334,592,411	285,310,209	46,576,498	2,705,704
23	Insurance ..............	20,052,883	6,329,996	13,668,203	54,684
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	EQUIPMENT RENT & MAINTENANCE	9,747,301	8,430,481	1,178,547	138,273
b	PRINTING & PUBLICATION	11,548,847	8,737,529	1,425,000	1,386,318
c	SLAC NON-SALARY EXPENSE	204,770,497	204,687,065	76,685	6,747
d	RESEARCH SUBAWARDS	69,696,344	69,696,344
e	All other expenses	107,503,816	25,136,941	79,022,805	3,344,070
25	Total functional expenses. Add lines 1 through 24e	5,050,927,315	4,427,038,915	532,301,162	91,587,238
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 if following SOP 98-2 (ASC 958-720).

Part X Balance Sheet Check if Schedule O contains a response or note to any line in this Part X ..............
	1	Cash–non-interest-bearing .............	197,773	1	193,026
2	Savings and temporary cash investments .........	630,016,595	2	708,010,967
3	Pledges and grants receivable, net ...........	711,795,169	3	760,519,089
4	Accounts receivable, net .............	540,899,348	4	314,485,517
5	Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of Schedule L ..................
		10,146,687	5	8,802,013
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
		0	6	0
7	Notes and loans receivable, net .............	578,481,451	7	622,413,936
8	Inventories for sale or use ..............	5,613,335	8	5,179,742
9	Prepaid expenses and deferred charges ..........	62,255,758	9	72,122,935
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	8,679,861,196
b	Less: accumulated depreciation .....	10b	3,884,297,258	4,558,913,034	10c	4,795,563,938
11	Investments—publicly traded securities ..........	7,118,193,718	11	6,971,378,896
12	Investments—other securities. See Part IV, line 11 .....	21,010,960,688	12	21,955,212,397
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 ...........	0	15	0
16	Total assets. Add lines 1 through 15 (must equal line 34)......	35,227,473,556	16	36,213,882,456
	17	Accounts payable and accrued expenses .........	1,443,948,910	17	1,420,242,413
18	Grants payable .................	0	18	0
19	Deferred revenue ................	616,574,642	19	652,849,598
20	Tax-exempt bond liabilities .............	1,501,429,376	20	1,427,153,000
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 ..	1,763,206,815	23	1,658,225,062
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....................	681,172,585	25	621,932,156
26	Total liabilities. Add lines 17 through 25.........	6,006,332,328	26	5,780,402,229
		Organizations that follow SFAS 117 (ASC 958), check here and complete lines 27 through 29, and lines 33 and 34.
27	Unrestricted net assets ..............	15,467,693,876	27	16,507,628,886
28	Temporarily restricted net assets ...........	7,844,163,298	28	7,744,050,783
29	Permanently restricted net assets ...........	5,909,284,054	29	6,181,800,558
	Organizations that do not follow SFAS 117 (ASC 958), check here 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 ...........	29,221,141,228	33	30,433,480,227
34	Total liabilities and net assets/fund balances ........	35,227,473,556	34	36,213,882,456

- TIN:

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

Information about Schedule A (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

Name of the organization

THE BOARD OF TRUSTEES OF THE LELAND STANFORD
JUNIOR UNIVERSITY

Employer identification number

94-1156365

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.)

A church, convention of churches, or association of churches described in section 170(b)(1)(A)(i).

A school described in section 170(b)(1)(A)(ii). (Attach Schedule E.)

A hospital or a cooperative hospital service organization described in section 170(b)(1)(A)(iii).

A medical research organization operated in conjunction with a hospital described in section 170(b)(1)(A)(iii). Enter the hospital's name, city, and state:

An organization operated for the benefit of a college or university owned or operated by a governmental unit described in

section 170(b)(1)(A)(iv). (Complete Part II.)

A federal, state, or local government or governmental unit described in section 170(b)(1)(A)(v).

An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi). (Complete Part II.)

A community trust described in section 170(b)(1)(A)(vi). (Complete Part II.)

An organization that normally receives: (1) more than 331/3% of its support from contributions, membership fees, and gross

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.)

An organization organized and operated exclusively to test for public safety. See section 509(a)(4).

An organization organized and operated exclusively for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2). See section 509(a)(3). Check the box in lines 11a through 11d that describes the type of supporting organization and complete lines 11e, 11f, and 11g.

Type I. A supporting organization operated, supervised, or controlled by its supported organization(s), typically by giving the supported organization(s) the power to regularly appoint or elect a majority of the directors or trustees of the supporting organization. You must complete Part IV, Sections A and B.

Type II. A supporting organization supervised or controlled in connection with its supported organization(s), by having control or management of the supporting organization vested in the same persons that control or manage the supported organization(s). You must complete Part IV, Sections A and C.

Type III functionally integrated. A supporting organization operated in connection with, and functionally integrated with, its supported organization(s) (see instructions). You must complete Part IV, Sections A, D, and E.

Type III non-functionally integrated. A supporting organization operated in connection with its supported organization(s) that is not functionally integrated. The organization generally must satisfy a distribution requirement and an attentiveness requirement (see instructions). You must complete Part IV, Sections A and D, and Part V.

Check this box if the organization received a written determination from the IRS that it is a Type I, Type II, Type III functionally integrated, or Type III non-functionally integrated supporting organization.

Enter the number of supported organizations .............................

Provide the following information about the supported organization(s).

(i)Name of supported organization	(ii) EIN	(iv) Is the organization listed in your governing document?		(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)
(i)Name of supported organization	(ii) EIN	Yes	No	(v) Amount of monetary support (see instructions)	(vi) Amount of other support (see instructions)


Total

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990EZ.

Cat. No. 11285F

Schedule A (Form 990 or 990-EZ) 2014

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)		(a) 2010	(b) 2011	(c) 2012	(d) 2013	(e) 2014	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") ....	1,573,066,590	1,964,094,849	1,719,795,101	1,821,722,630	1,969,404,372	9,048,083,542
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	1,573,066,590	1,964,094,849	1,719,795,101	1,821,722,630	1,969,404,372	9,048,083,542
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)..						28,525,034
6	Public support. Subtract line 5 from line 4.						9,019,558,508

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2010	(b) 2011	(c) 2012	(d) 2013	(e) 2014	(f) Total
7	Amounts from line 4..	1,573,066,590	1,964,094,849	1,719,795,101	1,821,722,630	1,969,404,372	9,048,083,542
8	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources...	294,682,535	423,308,665	428,521,264	450,602,864	402,534,773	1,999,650,101
9	Net income from unrelated business activities, whether or not the business is regularly carried on..						0
10	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.)..	5,097,022	5,217,464	6,341,565	5,041,646	4,316,942	26,014,639
11	Total support Add lines 7 through 10.						11,073,748,282

Gross receipts from related activities, etc. (see instructions) ..................

10,208,535,737

First five years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here........................................ right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2014 (line 6, column (f) divided by line 11, column (f)) .........

81.450 %

Public support percentage for 2013 Schedule A, Part II, line 14 ...............

81.414 %

16a

33 1/3% support test—2014. If the organization did not check the box on line 13, and line 14 is 33 1/3% or more, check this box
and stop here. The organization qualifies as a publicly supported organization ....................... right arrow

33 1/3% support test—2013. If the organization did not check a box on line 13 or 16a, and line 15 is 33 1/3% or more, check this
box and stop here. The organization qualifies as a publicly supported organization ..................... right arrow

17a

10%-facts-and-circumstances test—2014. If the organization did not check a box on line 13, 16a, or 16b, and line 14
is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain
in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly supported
organization ..................................................... right arrow

10%-facts-and-circumstances test—2013. If the organization did not check a box on line 13, 16a, 16b, or 17a, and line
15 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here.
Explain in Part VI how the organization meets the "facts-and-circumstances" test. The organization qualifies as a publicly
supported organization ................................................ right arrow

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) 2014

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)		(a) 2010	(b) 2011	(c) 2012	(d) 2013	(e) 2014	(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)		(a) 2010	(b) 2011	(c) 2012	(d) 2013	(e) 2014	(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 VI.) ..
13	Total support. (Add lines 9, 10c, 11, and 12.)..

First five years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization,
check this box and stop here............................................. right arrow

Section C. Computation of Public Support Percentage

Public support percentage for 2014 (line 8, column (f) divided by line 13, column (f)) .........

Public support percentage from 2013 Schedule A, Part III, line 15 ...............

Section D. Computation of Investment Income Percentage

Investment income percentage for 2014 (line 10c, column (f) divided by line 13, column (f)) ......

Investment income percentage from 2013 Schedule A, Part III, line 17 .............

19a

33 1/3% support tests—2014. If the organization did not check the box on line 14, and line 15 is more than 33 1/3%, and line 17 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization ....... right arrow

33 1/3% support tests—2013. If the organization did not check a box on line 14 or line 19a, and line 16 is more than 33 1/3% and line 18 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization .... right arrow

Private foundation. If the organization did not check a box on line 14, 19a, or 19b, check this box and see instructions .... right arrow

Schedule A (Form 990 or 990-EZ) 2014

Page 4

Part IV

Supporting Organizations

(Complete only if you checked a box on line 11 of Part I. If you checked 11a of Part I, complete Sections A and B. If you checked 11b of Part I, complete Sections A and C. If you checked 11c of Part I, complete Sections A, D, and E. If you checked 11d of Part I, complete Sections A and D, and complete Part V.)

Section A. All Supporting Organizations

Yes

Are all of the organization’s supported organizations listed by name in the organization’s governing documents?
If "No," describe in Part VI how the supported organizations are designated. If designated by class or purpose,
describe the designation. If historic and continuing relationship, explain.

Did the organization have any supported organization that does not have an IRS determination of status under section 509(a)(1) or (2)? If "Yes," explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2).

Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer (b) and (c) below.

Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)? If "Yes," describe in Part VI when and how the organization made the determination.

Did the organization ensure that all support to such organizations was used exclusively for section 170(c)(2)(B) purposes? If "Yes," explain in Part VI what controls the organization put in place to ensure such use.

Was any supported organization not organized in the United States ("foreign supported organization")? If “Yes” and if you checked 11a or 11b in Part I, answer (b) and (c) below.

Did the organization have ultimate control and discretion in deciding whether to make grants to the foreign supported organization? If “Yes,” describe in Part VI how the organization had such control and discretion despite being controlled or supervised by or in connection with its supported organizations....

Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)? If “Yes,” explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used exclusively for section 170(c)(2)(B) purposes.

Did the organization add, substitute, or remove any supported organizations during the tax year? If “Yes,” answer (b) and (c) below (if applicable). Also, provide detail in Part VI, including (i) the names and EIN numbers of the supported organizations added, substituted, or removed, (ii) the reasons for each such action, (iii) the authority under the organization's organizing document authorizing such action, and (iv) how the action was accomplished (such as by amendment to the organizing document).

Type I or Type II only. Was any added or substituted supported organization part of a class already designated in the organization's organizing document?

Substitutions only. Was the substitution the result of an event beyond the organization's control?

Did the organization provide support (whether in the form of grants or the provision of services or facilities) to anyone other than (a) its supported organizations; (b) individuals that are part of the charitable class benefited by one or more of its supported organizations; or (c) other supporting organizations that also support or benefit one or more of the filing organization’s supported organizations? If “Yes,” provide detail in Part VI.

Did the organization provide a grant, loan, compensation, or other similar payment to a substantial contributor (defined in IRC 4958(c)(3)(C)), a family member of a substantial contributor, or a 35-percent controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990) .

Did the organization make a loan to a disqualified person (as defined in section 4958) not described in line 7? If “Yes,” complete Part II of Schedule L (Form 990).

Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or (2))? If “Yes,” provide detail in Part VI.

Did one or more disqualified persons (as defined in line 9(a)) hold a controlling interest in any entity in which the supporting organization had an interest? If “Yes,” provide detail in Part VI.

Did a disqualified person (as defined in line 9(a)) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If “Yes,” provide detail in Part VI.

10a

Was the organization subject to the excess business holdings rules of IRC 4943 because of IRC 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer b below.

10a

Did the organization have any excess business holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess business holdings).

10b

Has the organization accepted a gift or contribution from any of the following persons?

A person who directly or indirectly controls, either alone or together with persons described in (b) and (c) below, the governing body of a supported organization?

11a

A family member of a person described in (a) above?

11b

A 35% controlled entity of a person described in (a) or (b) above? If “Yes” to a, b, or c, provide detail in Part VI.

11c

Schedule A (Form 990 or 990-EZ) 2014

Page 5

Part IV

Supporting Organizations (continued)

Section B. Type I Supporting Organizations

Yes

Did the directors, trustees, or membership of one or more supported organizations have the power to regularly appoint or elect at least a majority of the organization’s directors or trustees at all times during the tax year? If “No,” describe in Part VI how the supported organization(s) effectively operated, supervised, or controlled the organization’s activities. If the organization had more than one supported organization, describe how the powers to appoint and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year.

Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, supervised, or controlled the supporting organization? If “Yes,” explain in Part VI how providing such benefit carried out the purposes of the supported organization(s) that operated, supervised or controlled the supporting organization.

Section C. Type II Supporting Organizations

Yes

Were a majority of the organization’s directors or trustees during the tax year also a majority of the directors or trustees of each of the organization’s supported organization(s)? If “No,” describe in Part VI how control or management of the supporting organization was vested in the same persons that controlled or managed the supported organization(s).

Section D. All Type III Supporting Organizations

Yes

Did the organization provide to each of its supported organizations, by the last day of the fifth month of the organization’s tax year, (1) a written notice describing the type and amount of support provided during the prior tax year, (2) a copy of the Form 990 that was most recently filed as of the date of notification, and (3) copies of the organization’s governing documents in effect on the date of notification, to the extent not previously provided?

Were any of the organization’s officers, directors, or trustees either (i) appointed or elected by the supported organization(s) or (ii) serving on the governing body of a supported organization? If "No," explain in Part VI how the organization maintained a close and continuous working relationship with the supported organization(s).

By reason of the relationship described in (2), did the organization’s supported organizations have a significant voice in the organization’s investment policies and in directing the use of the organization’s income or assets at all times during the tax year? If "Yes," describe in Part VI the role the organization’s supported organizations played in this regard.

Section E. Type III Functionally-Integrated Supporting Organizations

Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):

The organization satisfied the Activities Test. Complete line 2 below.

The organization is the parent of each of its supported organizations. Complete line 3 below.

The organization supported a governmental entity. Describe in Part VI how you supported a government entity (see instructions)

Activities Test. Answer (a) and (b) below.

Yes

Did substantially all of the organization’s activities during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responsive? If "Yes," then in Part VI identify those supported organizations and explain how these activities directly furthered their exempt purposes, how the organization was responsive to those supported organizations, and how the organization determined that these activities constituted substantially all of its activities.

Did the activities described in (a) constitute activities that, but for the organization’s involvement, one or more of the organization’s supported organization(s) would have been engaged in? If "Yes," explain in Part VI the reasons for the organization’s position that its supported organization(s) would have engaged in these activities but for the organization’s involvement.

Parent of Supported Organizations. Answer (a) and (b) below.

Did the organization have the power to regularly appoint or elect a majority of the officers, directors, or trustees of each of the supported organizations? Provide details in Part VI.

Did the organization exercise a substantial degree of direction over the policies, programs and activities of each of its supported organizations? If "Yes," describe in Part VI the role played by the organization in this regard.

Schedule A (Form 990 or 990-EZ) 2014

Page 6

Part V – Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations

1. Check here if the organization satisfied the Integral Part Test as a qualifying trust on Nov. 20, 1970. See instructions. All other Type III non-functionally integrated supporting organizations must complete Sections A through E.

	Section A - Adjusted Net Income		(A) Prior Year	(B) Current Year (optional)
1	Net short-term capital gain	1
2	Recoveries of prior-year distributions	2
3	Other gross income (see instructions)	3
4	Add lines 1 through 3	4
5	Depreciation and depletion	5
6	Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions)	6
7	Other expenses (see instructions)	7
8	Adjusted Net Income (subtract lines 5, 6 and 7 from line 4)	8

	Section B - Minimum Asset Amount		(A) Prior Year	(B) Current Year (optional)
1	Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year):	1
a	Average monthly value of securities	1a
b	Average monthly cash balances	1b
c	Fair market value of other non-exempt-use assets	1c
d	Total (add lines 1a, 1b, and 1c)	1d
e	Discount claimed for blockage or other factors (explain in detail in Part VI):
2	Acquisition indebtedness applicable to non-exempt use assets	2
3	Subtract line 2 from line 1d	3
4	Cash deemed held for exempt use. Enter 1-1/2% of line 3 (for greater amount, see instructions).	4
5	Net value of non-exempt-use assets (subtract line 4 from line 3)	5
6	Multiply line 5 by .035	6
7	Recoveries of prior-year distributions	7
8	Minimum Asset Amount (add line 7 to line 6)	8

	Section C - Distributable Amount		Current Year
1	Adjusted net income for prior year (from Section A, line 8, Column A)	1
2	Enter 85% of line 1	2
3	Minimum asset amount for prior year (from Section B, line 8, Column A)	3
4	Enter greater of line 2 or line 3	4
5	Income tax imposed in prior year	5
6	Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions)	6
7	Check here if the current year is the organization's first as a non-functionally-integrated Type III supporting organization (see instructions)

Schedule A (Form 990 or 990-EZ) 2014

Page 7

Section D - Distributions		Current Year
1 Amounts paid to supported organizations to accomplish exempt purposes
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity
3 Administrative expenses paid to accomplish exempt purposes of supported organizations
4 Amounts paid to acquire exempt-use assets
5 Qualified set-aside amounts (prior IRS approval required)
6 Other distributions (describe in Part VI). See instructions
7Total annual distributions. Add lines 1 through 6.
8 Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions
9 Distributable amount for 2014 from Section C, line 6
10 Line 8 amount divided by Line 9 amount

Section E - Distribution Allocations (see instructions)		(i) Excess Distributions	(ii) Underdistributions Pre-2014	(iii) Distributable Amount for 2014
1 Distributable amount for 2014 from Section C, line 6
2 Underdistributions, if any, for years prior to 2014 (reasonable cause required--see instructions)
3 Excess distributions carryover, if any, to 2014:
a From 2009.......X
b From 2010.......X
c From 2011.......X
d From 2012.......X
e From 2013.......
fTotal of lines 3a through e
g Applied to underdistributions of prior years
h Applied to 2014 distributable amount
i Carryover from 2009 not applied (see instructions)
j Remainder. Subtract lines 3g, 3h, and 3i from 3f.
4Distributions for 2014 from Section D, line 7:
$
a Applied to underdistributions of prior years
b Applied to 2014 distributable amount
c Remainder. Subtract lines 4a and 4b from 4.
5 Remaining underdistributions for years prior to 2014, if any. Subtract lines 3g and 4a from line 2 (if amount greater than zero, see instructions)
6 Remaining underdistributions for 2014. Subtract lines 3h and 4b from line 1 (if amount greater than zero, see instructions)
7 Excess distributions carryover to 2015. Add lines 3j and 4c.
8 Breakdown of line 7:
a From 2010.......X
b From 2011.......X
c From 2012.......X
d From 2013.......
e From 2014.......

Schedule A (Form 990 or 990-EZ) (2014)

Schedule A (Form 990 or 990-EZ) 2014

Page 8

Part VI

Supplemental Information. Provide the explanations required by Part II, line 10; Part II, line 17a or 17b; Part III, line 12; Part IV, Section A, lines 1, 2, 3b, 3c, 4b, 4c, 5a, 6, 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 1c, 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part V Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions).

Facts And Circumstances Test

Return Reference	Explanation

Schedule A (Form 990 or 990-EZ) 2014

Additional Data

Software ID:
Software Version:

- TIN:

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

Information about Schedule C (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

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) (see separate instructions) or Form 990-EZ, Part V, line 35c (Proxy Tax) (see separate instructions), then
Round Bullet

Section 501(c)(4), (5), or (6) organizations: Complete Part III.

Name of the organization

THE BOARD OF TRUSTEES OF THE LELAND STANFORD
JUNIOR UNIVERSITY

Employer identification number

94-1156365

Part I-A

Complete if the organization is exempt under section 501(c) or is a section 527 organization.

Provide a description of the organization’s direct and indirect political campaign activities in Part IV.

Political expenditures .................................... SchCMd Bullet

Volunteer hours ........................................

Part I-B

Complete if the organization is exempt under section 501(c)(3).

Enter the amount of any excise tax incurred by the organization under section 4955 ......... SchCMd Bullet

Enter the amount of any excise tax incurred by organization managers under section 4955 ...... SchCMd Bullet

If the organization incurred a section 4955 tax, did it file Form 4720 for this year? ..............

Yes No

Was a correction made? .........................................

Yes No

If "Yes," describe in Part IV.

Part I-C

Complete if the organization is exempt under section 501(c), except section 501(c)(3).

Enter the amount directly expended by the filing organization for section 527 exempt function activities SchCMd Bullet

Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt function activities ................................... SchCMd Bullet

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

Did the filing organization file Form 1120-POL for this year? ..........................

Yes No

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) 2014

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 Bullet

if the filing organization belongs to an affiliated group (and list in Part IV each affiliated group member's name, address, EIN, expenses, and share of excess lobbying expenditures).
B Check SchCMd Bullet

if the filing organization checked box A and "limited control" provisions apply.

Limits on Lobbying Expenditures (The term "expenditures" means amounts paid or incurred.)		(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? ......................................	Yes No

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 separate instructions for lines 2a through 2f.)
Lobbying Expenditures During 4-Year Averaging Period
	Calendar year (or fiscal year beginning in)	(a) 2011	(b) 2012	(c) 2013	(d) 2014	(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) 2014

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)

Yes

(b)

Amount

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:

Volunteers? .........................................

Yes

Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ....

Yes

Media advertisements? ....................................

Yes

481

Mailings to members, legislators, or the public? .........................

Yes

76,579

Publications, or published or broadcast statements? .......................

Yes

20,598

Grants to other organizations for lobbying purposes? .......................

Direct contact with legislators, their staffs, government officials, or a legislative body? ........

Yes

380,489

Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ......

Yes

75,598

Other activities? ..........................

Yes

11,751

Total. Add lines 1c through 1i ...............................

565,496

Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....

If "Yes," enter the amount of any tax incurred under section 4912 .................

If "Yes," enter the amount of any tax incurred by organization managers under section 4912 .....

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

Were substantially all (90% or more) dues received nondeductible by members? ................

Did the organization make only in-house lobbying expenditures of $2,000 or less? ................

Did the organization agree to carry over lobbying and political expenditures from the prior year? ..........

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."

Dues, assessments and similar amounts from members .....................

Section 162(e) nondeductible lobbying and political expenditures (do not include amounts of political
expenses for which the section 527(f) tax was paid).

Current year .........................................

Carryover from last year ....................................

Total ............................................

Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .

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? ................................

Taxable amount of lobbying and political expenditures (see instructions) ..............

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, lines 1 and 2 (see instructions), and Part ll-B, line 1. Also, complete this part for any additional information.

Return Reference	Explanation
PART II-B - LOBBYING ACTIVITY EXPLANATION	AN INSUBSTANTIAL PORTION OF STANFORD UNIVERSITY'S TOTAL ACTIVITIES INVOLVED LEGISLATIVE AND REGULATORY MATTERS OF DIRECT CONCERN TO HIGHER EDUCATION OR OF COMPELLING IMPORTANCE TO STANFORD IN PARTICULAR. INSTITUTIONAL EFFORTS TO INFLUENCE LEGISLATION AND REGULATION ARE DIRECTED BY THE OFFICE OF GOVERNMENT AND COMMUNITY RELATIONS. DURING FISCAL YEAR 2015, THE OFFICE OF GOVERNMENT AND COMMUNITY RELATIONS CONSISTED OF SIX PROFESSIONAL STAFF MEMBERS, TWO SUPPORT PERSONS AND TWO CONTINGENT STAFF. THE UNIVERSITY DOES NOT HAVE A LOBBYING OFFICE IN EITHER WASHINGTON, DC OR SACRAMENTO, CA. DURING THIS PERIOD, THE UNIVERSITY HIRED AN OUTSIDE REGISTERED LOBBYIST IN SACRAMENTO FOR PART-TIME WORK ON STATE ISSUES. ACTIVITIES OF GOVERNMENT AND COMMUNITY RELATIONS STAFF INCLUDE CONTACTS BY LETTERS, PHONE CALLS AND MEETINGS WITH LEGISLATORS, MEMBERS OF THEIR STAFFS, OR OTHER GOVERNMENT OFFICIALS, AND MEETINGS WITH LOCAL CITIZENS REGARDING STANFORD ISSUES WITH LOCAL GOVERNMENT. IN FISCAL YEAR 2015, LEGISLATIVE, EXECUTIVE AND LOCAL REGULATORY ISSUES HANDLED BY THE UNIVERSITY INCLUDED THE FOLLOWING: LOCAL ISSUES: ZONING AND LAND USES RELATED TO PROPERTY OWNED BY THE UNIVERSITY AND CONTIGUOUS TO THE UNIVERSITY'S ACADEMIC CAMPUS. STATE ISSUES: STUDENT ATHLETE BILL OF RIGHTS; GENETIC INFORMATION PRIVACY ACT; CAL GRANT PROGRAM; RENEWABLE ENERGY; STUDENT SAFETY; SEXUAL ASSAULT; POSTSECONDARY EDUCATION; ANIMAL RESEARCH. FEDERAL ISSUES: STUDENT AID AND EDUCATION AND RESEARCH POLICY ISSUES; TAXATION; REIMBURSEMENT OF FEDERAL RESEARCH COSTS; FUNDING LEVELS OF RESEARCH (E.G. NIH, DOE, NASA, DOD, NSF, NEH); FUNDING FOR STANFORD LINEAR ACCELERATOR CENTER; MEDICARE FUNDING FOR TEACHING HOSPITALS; RESEARCH POLICY; INTELLECTUAL PROPERTY; AND IMMIGRATION POLICY. THE TOTAL BUDGET EXPENDED BY THE OFFICE OF GOVERNMENT AND COMMUNITY RELATIONS WAS $1,257,359. THE ESTIMATED TOTAL EXPENSES FOR LOBBYING, INCLUDING DIRECT PREPARATION TIME BY GOVERNMENT AND COMMUNITY RELATIONS EMPLOYEES, AS DEFINED IN SECTION 501(C) OF THE INTERNAL REVENUE CODE AND REGULATIONS THEREUNDER, AND PAYMENTS OF TRAVEL OR ENTERTAINMENT EXPENSES FOR FEDERAL OR LOCAL OFFICIALS, ARE ESTIMATED AS FOLLOWS: SALARIES AND BENEFITS $347,157 GENERAL OFFICE OVERHEAD $130,248 PAID CONSULTANT, COALITION DUES $65,985 DUES TO MEMBER ORGANIZATIONS $9,044 TRAVEL $13,062 TOTAL $565,496 AMOUNTS APPEARING ON PART II-B ARE REASONABLE ALLOCATIONS OF THE ABOVE EXPENSES. AN INVESTMENT PARTNERSHIP IN WHICH THE UNIVERSITY HOLDS A NONCONTROLLING LIMITED PARTNERSHIP INTEREST MAY, FROM TIME TO TIME, INCUR A LOBBYING EXPENDITURE. THE UNIVERSITY'S SHARE OF SUCH PARTNERSHIP EXPENDITURES DURING THE TAX YEAR WAS $29,413. NEITHER STANFORD, NOR ANY TRUSTEE OR OFFICER OF STANFORD, ENGAGED IN THE ACTIVITY CONDUCTED BY THE INVESTMENT PARTNERSHIPS. THE TOTAL AMOUNT SPENT BY STANFORD IN LOBBYING REPRESENTS AN INSIGNIFICANT PART OF THE UNIVERSITY'S TOTAL EXPENDITURES, EVEN MAKING THE MOST GENEROUS ALLOWANCE FOR THE LOBBYING ACTIVITIES OF STANFORD UNIVERSITY EMPLOYEES OUTSIDE THE GOVERNMENT AND COMMUNITY RELATIONS OFFICE WORKING ON BEHALF OF THE UNIVERSITY.

Return Reference

Explanation

PART II-B - LOBBYING ACTIVITY EXPLANATION

AN INSUBSTANTIAL PORTION OF STANFORD UNIVERSITY'S TOTAL ACTIVITIES INVOLVED LEGISLATIVE AND REGULATORY MATTERS OF DIRECT CONCERN TO HIGHER EDUCATION OR OF COMPELLING IMPORTANCE TO STANFORD IN PARTICULAR. INSTITUTIONAL EFFORTS TO INFLUENCE LEGISLATION AND REGULATION ARE DIRECTED BY THE OFFICE OF GOVERNMENT AND COMMUNITY RELATIONS. DURING FISCAL YEAR 2015, THE OFFICE OF GOVERNMENT AND COMMUNITY RELATIONS CONSISTED OF SIX PROFESSIONAL STAFF MEMBERS, TWO SUPPORT PERSONS AND TWO CONTINGENT STAFF. THE UNIVERSITY DOES NOT HAVE A LOBBYING OFFICE IN EITHER WASHINGTON, DC OR SACRAMENTO, CA. DURING THIS PERIOD, THE UNIVERSITY HIRED AN OUTSIDE REGISTERED LOBBYIST IN SACRAMENTO FOR PART-TIME WORK ON STATE ISSUES. ACTIVITIES OF GOVERNMENT AND COMMUNITY RELATIONS STAFF INCLUDE CONTACTS BY LETTERS, PHONE CALLS AND MEETINGS WITH LEGISLATORS, MEMBERS OF THEIR STAFFS, OR OTHER GOVERNMENT OFFICIALS, AND MEETINGS WITH LOCAL CITIZENS REGARDING STANFORD ISSUES WITH LOCAL GOVERNMENT. IN FISCAL YEAR 2015, LEGISLATIVE, EXECUTIVE AND LOCAL REGULATORY ISSUES HANDLED BY THE UNIVERSITY INCLUDED THE FOLLOWING: LOCAL ISSUES: ZONING AND LAND USES RELATED TO PROPERTY OWNED BY THE UNIVERSITY AND CONTIGUOUS TO THE UNIVERSITY'S ACADEMIC CAMPUS. STATE ISSUES: STUDENT ATHLETE BILL OF RIGHTS; GENETIC INFORMATION PRIVACY ACT; CAL GRANT PROGRAM; RENEWABLE ENERGY; STUDENT SAFETY; SEXUAL ASSAULT; POSTSECONDARY EDUCATION; ANIMAL RESEARCH. FEDERAL ISSUES: STUDENT AID AND EDUCATION AND RESEARCH POLICY ISSUES; TAXATION; REIMBURSEMENT OF FEDERAL RESEARCH COSTS; FUNDING LEVELS OF RESEARCH (E.G. NIH, DOE, NASA, DOD, NSF, NEH); FUNDING FOR STANFORD LINEAR ACCELERATOR CENTER; MEDICARE FUNDING FOR TEACHING HOSPITALS; RESEARCH POLICY; INTELLECTUAL PROPERTY; AND IMMIGRATION POLICY. THE TOTAL BUDGET EXPENDED BY THE OFFICE OF GOVERNMENT AND COMMUNITY RELATIONS WAS $1,257,359. THE ESTIMATED TOTAL EXPENSES FOR LOBBYING, INCLUDING DIRECT PREPARATION TIME BY GOVERNMENT AND COMMUNITY RELATIONS EMPLOYEES, AS DEFINED IN SECTION 501(C) OF THE INTERNAL REVENUE CODE AND REGULATIONS THEREUNDER, AND PAYMENTS OF TRAVEL OR ENTERTAINMENT EXPENSES FOR FEDERAL OR LOCAL OFFICIALS, ARE ESTIMATED AS FOLLOWS: SALARIES AND BENEFITS $347,157 GENERAL OFFICE OVERHEAD $130,248 PAID CONSULTANT, COALITION DUES $65,985 DUES TO MEMBER ORGANIZATIONS $9,044 TRAVEL $13,062 TOTAL $565,496 AMOUNTS APPEARING ON PART II-B ARE REASONABLE ALLOCATIONS OF THE ABOVE EXPENSES. AN INVESTMENT PARTNERSHIP IN WHICH THE UNIVERSITY HOLDS A NONCONTROLLING LIMITED PARTNERSHIP INTEREST MAY, FROM TIME TO TIME, INCUR A LOBBYING EXPENDITURE. THE UNIVERSITY'S SHARE OF SUCH PARTNERSHIP EXPENDITURES DURING THE TAX YEAR WAS $29,413. NEITHER STANFORD, NOR ANY TRUSTEE OR OFFICER OF STANFORD, ENGAGED IN THE ACTIVITY CONDUCTED BY THE INVESTMENT PARTNERSHIPS. THE TOTAL AMOUNT SPENT BY STANFORD IN LOBBYING REPRESENTS AN INSIGNIFICANT PART OF THE UNIVERSITY'S TOTAL EXPENDITURES, EVEN MAKING THE MOST GENEROUS ALLOWANCE FOR THE LOBBYING ACTIVITIES OF STANFORD UNIVERSITY EMPLOYEES OUTSIDE THE GOVERNMENT AND COMMUNITY RELATIONS OFFICE WORKING ON BEHALF OF THE UNIVERSITY.

Schedule C (Form 990 or 990EZ) 2014

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Financial Statements

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.
Information about Schedule D (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization

THE BOARD OF TRUSTEES OF THE LELAND STANFORD
JUNIOR UNIVERSITY

Employer identification number

94-1156365

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 .........	50	34
2	Aggregate value of contributions to (during year)	69,995,657	16,902,649
3	Aggregate value of grants from (during year)	24,431,535	12,453,326
4	Aggregate value at end of year ........	417,465,670	90,219,341

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? ............

Yes No

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? ...................................

Yes No

Part II

Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.

Purpose(s) of conservation easements held by the organization (check all that apply).

Preservation of land for public use (e.g., recreation or education) Preservation of an historically important land area

Protection of natural habitat Preservation of a certified historic structure

Preservation of open space

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.


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

Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the tax year SchDMd Bullet

Number of states where property subject to conservation easement is located SchDMd Bullet

Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................

Yes No

Staff and volunteer hours devoted to monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet

Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet

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)? .......................................

Yes No

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.

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.

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)

Revenue included in Form 990, Part VIII, line 1 ........................ SchDMd Bullet

(ii)

Assets included in Form 990, Part X .............................. SchDMd Bullet

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:

Revenue included in Form 990, Part VIII, line 1 .......................... SchDMd Bullet

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) 2014

Page 2

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)

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):

Public exhibition

Loan or exchange programs

Scholarly research

Other

Preservation for future generations

Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.

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?........

Yes No

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.

Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................

Yes No

If "Yes," explain the arrangement in Part XIII and complete the following table:


c	Beginning balance .................................	1c
d	Additions during the year ..............................	1d
e	Distributions during the year .............................	1e
f	Ending balance ...................................	1f

Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability?

Yes No

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 ....	21,446,006,000	18,688,868,000	17,035,804,000	16,502,606,000	13,851,115,000
b	Contributions ........	283,602,000	659,618,000	588,438,000	403,858,000	673,440,000
c	Net investment earnings, gains, and losses	1,551,374,000	3,082,735,000	1,985,298,000	1,000,446,000	2,763,132,000
d	Grants or scholarships .....	237,370,999	222,843,748	208,922,228	196,918,322	182,421,410
e	Other expenditures for facilities and programs ........	820,654,001	762,371,252	711,749,772	674,187,678	602,659,590
f	Administrative expenses ....
g	End of year balance ......	22,222,957,000	21,446,006,000	18,688,868,000	17,035,804,000	16,502,606,000

Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:

Board designated or quasi-endowment SchDMd Bullet

45.162 %

Permanent endowment SchDMd Bullet

29.096 %

Temporarily restricted endowment SchDMd Bullet

25.742 %

The percentages in lines 2a, 2b, and 2c should equal 100%.

Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes

(i) unrelated organizations ........................

3a(i)

(ii) related organizations ........................

3a(ii)

Yes

If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........

Yes

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		(b)Cost or other basis (other)	(c) Accumulated depreciation	(d) Book value
1a	Land .................	98,912,583		98,912,583
b	Buildings ................	5,751,391,568	2,317,956,464	3,433,435,104
c	Leasehold improvements ............
d	Equipment ................	1,617,442,001	1,321,492,176	295,949,825
e	Other .................	1,212,115,044	244,848,618	967,266,426
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......				4,795,563,938

Schedule D (Form 990) 2014

Page 3

Part VII

InvestmentsOther 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) CASH & CASH EQUIVALENTS	1,300,473,154	F
(B) COLLATERAL FOR SECURITIES LOAN	110,086,545	F
(C) DERIVATIVES	58,991,744	F
(D) FIXED INCOME	1,350,767,953	F
(E) REAL ESTATE	6,439,576,404	F
(F) NATURAL RESOURCES	2,018,832,066	F
(G) PRIVATE EQUITIES	6,833,087,140	F
(H) ABSOLUTE RETURNS	5,529,101,682	F
(I) ASSETS HELD BY OTHER TRUSTEES	192,811,414	F
(J) OTHER INVESTMENTS	273,673,537	F
(K) ASSETS LIMITED TO USE-TRUSTEES	160,351,476	F
(L) HOSPITAL FUNDS IN MERGED POOL	-2,312,540,718	F
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)	21,955,212,397

Part VIII

InvestmentsProgram 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.)

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.)...........

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
SECURITY AGREEMENTS		132,425,278
US GOVERNMENT REFUNDABLE LOAN		54,081,015
INC.BENEFICIARY SHARE-SPLIT INT.		435,425,863






Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)		621,932,156
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) 2014

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	5,858,037,000
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a	270,085,680
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ............	2d	-310,372,953
e	Add lines 2a through 2d .....................			2e	-40,287,273
3	Subtract line 2e from line 1.....................			3	5,898,324,273
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	139,171,032
b	Other (Describe in Part XIII.) ...........	4b	-2,090,185
c	Add lines 4a and 4b.......................			4c	137,080,847
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......			5	6,035,405,120

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	4,645,698,000
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	2,090,185
e	Add lines 2a through 2d......................			2e	2,090,185
3	Subtract line 2e from line 1.....................			3	4,643,607,815
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	139,171,032
b	Other (Describe in Part XIII.) ............	4b	268,148,468
c	Add lines 4a and 4b.......................			4c	407,319,500
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......			5	5,050,927,315

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
SCHEDULE D, PART I, COLUMN (B)	COLUMN (B) REPRESENTS FUNDS CREATED TO MAKE GRANTS ONLY WITHIN THE UNIVERSITY. SCHEDULE D, PART I, LINE 2 INCLUDED IN AGGREGATE CONTRIBUTIONS TO FUNDS ARE NEW GIFTS AS WELL AS TRANSFERS FROM OTHER ACCOUNTS WITHIN THE UNIVERSITY. SCHEDULE D, PART III, LINE 1A WORKS OF ART, HISTORICAL TREASURES, LITERARY WORKS AND ARTIFACTS, WHICH ARE PRESERVED AND PROTECTED FOR EDUCATIONAL, RESEARCH AND PUBLIC EXHIBITION PURPOSES, ARE NOT CAPITALIZED. DONATIONS OF SUCH COLLECTIONS ARE NOT RECORDED FOR FINANCIAL STATEMENT PURPOSES. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS OPERATING EXPENSES IN THE PERIOD IN WHICH THEY ARE ACQUIRED. PROCEEDS FROM SALES OF SUCH ITEMS ARE USED TO ACQUIRE OTHER ITEMS FOR THE COLLECTIONS.
SCHEDULE D, PART III, LINE 4	THE CANTOR ARTS CENTER AT STANFORD UNIVERSITY IS A MUSEUM COMMITTED TO INTELLECTUAL EXPLORATION AND THE PURSUIT OF KNOWLEDGE, FOSTERING A SENSE OF DISCOVERY THROUGH DIRECT EXPERIENCES WITH WORKS OF ART. THE CENTER COLLECTS, PRESERVES, AND STUDIES ART FROM ALL CULTURES AND PERIODS, SERVING THE UNIVERSITY AND THE PUBLIC THROUGH EXHIBITIONS AND PROGRAMS THAT INSPIRE THE UNDERSTANDING AND ENJOYMENT OF ART. THE ANDERSON COLLECTION IS AN OUTSTANDING ASSEMBLAGE OF MODERN AND CONTEMPORARY AMERICAN ART. THE COLLECTION IS ANCHORED IN THE WORK OF THE NEW YORK SCHOOL AND KEY MODERN AND CONTEMPORARY ARTISTS COLLECTED IN DEPTH, ACROSS MEDIA. MAJOR MOVEMENTS REPRESENTED INCLUDE ABSTRACT EXPRESSIONISM, COLOR FIELD PAINTING, POST-MINIMALISM, CALIFORNIA FUNK ART, BAY AREA FIGURATIVE ART, LIGHT AND SPACE, AND CONTEMPORARY PAINTING AND SCULPTURE. THE 121-WORK COLLECTION FEATURES 86 ARTISTS, INCLUDING JACKSON POLLACK, HELEN FRANKENTHALER AND RICHARD DIEBENKORN. ADMISSION TO THE MUSEUM IS FREE. THE COLLECTION, BUILT OVER 50 YEARS, WAS DONATED TO STANFORD BY HARRY W. AND MARY MARGARET ANDERSON AND MARY PATRICIA ANDERSON PENCE. SCHEDULE D, PART V, LINES 1B & 1E "CONTRIBUTIONS" (LINE 1B) INCLUDE CERTAIN INVESTMENT INCOME, CURRENT YEAR GIFTS TO ENDOWMENT, MATURED LIVING TRUSTS DIRECTED TO ENDOWMENT, AND CERTAIN OTHER FUNDS TRANSFERRED INTO THE ENDOWMENT. INCLUDED IN "OTHER EXPENDITURES FOR FACILITIES AND PROGRAMS" (LINE 1E) ARE FUNDS DISTRIBUTED ANNUALLY FROM ENDOWMENT PRINCIPAL TO SUPPORT SUCH FACILITIES AND PROGRAMS. PLEASE SEE FURTHER DISCUSSION BELOW IN "INTENDED USES OF THE ENDOWMENT FUNDS". SCHEDULE D, PART V, LINE 2 BOARD DESIGNATED OR QUASI ENDOWMENT FUNDS ARE UNIVERSITY RESOURCES DESIGNATED BY THE BOARD AS ENDOWMENT AND ARE INVESTED FOR LONG-TERM APPRECIATION AND CURRENT INCOME. THESE ASSETS, HOWEVER, REMAIN AVAILABLE AND MAY BE SPENT AT THE BOARD'S DISCRETION. THE UNIVERSITY CLASSIFIES AS PERMANENT ENDOWMENT A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT AND B) ACCUMULATIONS TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENT AT THE TIME THE ACCUMULATION IS ADDED TO THE FUND. THE REMAINING PORTION OF THE DONOR-RESTRICTED ENDOWMENT FUND THAT IS NOT CLASSIFIED IN PERMANENT ENDOWMENT IS CLASSIFIED AS TEMPORARILY RESTRICTED ENDOWMENT UNTIL THOSE AMOUNTS ARE AUTHORIZED FOR EXPENDITURE. IN THE ABSENCE OF DONOR STIPULATIONS OR LAW TO THE CONTRARY, NET UNREALIZED LOSSES ON PERMANENTLY RESTRICTED ENDOWMENT FUNDS FIRST REDUCE RELATED APPRECIATION ON TEMPORARILY RESTRICTED NET ASSETS AND THEN ON UNRESTRICTED NET ASSETS, AS NEEDED, UNTIL SUCH TIME AS THE FAIR VALUE OF THE FUND EQUALS OR EXCEEDS HISTORIC VALUE. SCHEDULE D, PART V, LINE 3A(II) AND LINE 3B INCLUDED IN THE ENDOWMENT BALANCE ON LINE 1G ARE THE ASSETS OF SHR HOLDINGS, INC., A RELATED ORGANIZATION.
SCHEDULE D, PART V, LINE 4	INTENDED USES OF THE ENDOWMENT FUNDS IN 1885, LELAND AND JANE LATHROP STANFORD SAID OF THEIR FOUNDING GRANT "IT SHALL CONSTITUTE THE FOUNDATION AND ENDOWMENT FOR THE UNIVERSITY HEREIN PROVIDED, AND UPON THE TRUST THAT THE PRINCIPAL THEREOF SHALL FOREVER REMAIN INTACT, AND THAT THE RENTS, ISSUES, AND PROFITS THEREOF SHALL BE DEVOTED TO THE FOUNDATION AND MAINTENANCE OF THE UNIVERSITY HEREBY FOUNDED AND ENDOWED, AND THE USES AND PURPOSES HEREIN MENTIONED." TODAY, STANFORD'S ENDOWMENT CONSISTS OF THOUSANDS OF INDIVIDUAL FUNDS, MANY OF WHICH ARE RESTRICTED TO PARTICULAR USES (E.G., SCHOLARSHIP FUNDS FOR UNDERGRADUATES, FELLOWSHIP FUNDS TO SUPPORT GRADUATE STUDENTS, RESEARCH FUNDS DIRECTED TO MANY DIFFERENT AREAS, PROGRAM SUPPORT FUNDS, FUNDS TO SUPPORT PROFESSORS, FUNDS TO SUPPORT LECTURES, FUNDS TO PROVIDE BUILDING AND GROUND MAINTENANCE, FUNDS TO SUPPORT THE UNIVERSITY'S MUSEUM, FUNDS TO SUPPORT THE ACQUISITION OF LIBRARY MATERIALS). THE FUNDS ARE INVESTED IN PERPETUITY FOR LONG TERM GROWTH AND THE PAYOUT IS USED FOR THE PURPOSE SET FORTH IN THE GIFT DOCUMENT. SOME ENDOWMENT FUNDS DO NOT HAVE PURPOSE RESTRICTIONS AND THE PAYOUT FROM THESE FUNDS IS USED TO SUPPORT THE GENERAL OPERATIONS AND INFRASTRUCTURE OF THE UNIVERSITY AS WELL AS MANY OTHER PARTS OF THE UNIVERSITY. ENDOWMENT PAYOUT IS A RELIABLE SOURCE OF CONTINUING SUPPORT AND IS CRUCIAL TO THE FUNDING OF THE MANY LONG TERM COMMITMENTS THAT THE UNIVERSITY MUST MAKE. THE ENDOWMENT MAKES STANFORD LESS DEPENDENT ON OTHER MORE VARIABLE SOURCES OF INCOME. THE ENDOWMENT PAYOUT COVERS APPROXIMATELY 23% OF STANFORD'S TOTAL EXPENSES. STANFORD IS CURRENTLY DIRECTING CONSIDERABLE RESEARCH AND EDUCATION EFFORTS TOWARD ADDRESSING THE CHALLENGES CRUCIAL TO THE WORLD. IN PARTICULAR, IT IS SEEKING SOLUTIONS TO SOME OF THE MOST CHALLENGING PROBLEMS IN HUMAN HEALTH, INTERNATIONAL PEACE AND SECURITY AND THE ENVIRONMENT AND SUSTAINABILITY. STANFORD CONTINUES TO BE ONE OF FEW PRIVATE INSTITUTIONS THAT SEEKS TO ENROLL AND ADMIT THE VERY BEST APPLICANTS, REGARDLESS OF THEIR FAMILIES' INCOME AND PROVIDE SUFFICIENT FINANCIAL AID FOR ALL ADMITTED STUDENTS WHO HAVE UNIVERSITY-COMPUTED NEED, AND WHO MEET STATED FINANCIAL AND ELIGIBLE REQUIREMENTS, TO ATTEND THE UNIVERSITY. ENDOWMENT SUPPORT CONTRIBUTES GREATLY TO THE SUCCESS OF THESE EFFORTS. IN PART AS A RESULT OF ENDOWMENT SUPPORT OF STUDENT AID, STANFORD IS ABLE TO WAIVE THE TOTAL COST OF TUITION FOR MANY OF ITS DESERVING STUDENTS. STANFORD EXPECTS NO PARENTAL CONTRIBUTION TOWARD TUITION FROM PARENTS WITH ANNUAL INCOMES BELOW $125,000 AND TYPICAL ASSETS. THERE IS ZERO PARENTAL CONTRIBUTION TOWARD TUITION, ROOM OR BOARD FOR PARENTS WITH ANNUAL INCOMES BELOW $65,000 AND TYPICAL ASSETS. THE UNIVERSITY IS ALSO MINDFUL OF STUDENT DEBT, AND IT DOES NOT EXPECT STUDENTS TO BORROW TO MEET THEIR NEED. AS A RESULT, STANFORD STUDENTS GENERALLY INCUR LESS DEBT THAN THEIR PEERS AT OTHER UNIVERSITIES. FOR STUDENTS WHO CHOOSE TO BORROW, THE MEDIAN INDEBTEDNESS WAS $16,417 IN FY 15. THAT SAME YEAR, 78 PERCENT OF STANFORD UNDERGRADUATES RECEIVING DEGREES GRADUATED WITH NO DEBT - UP FROM 55 PERCENT IN FY 05 - EVIDENCE OF STANFORD'S GENEROUS AID PROGRAM. THIS FINANCIAL AID PROGRAM IS A DEMONSTRATION OF STANFORD'S COMMITMENT TO ACCESS FOR OUTSTANDING STUDENTS FROM ALL BACKGROUNDS - INCLUDING NOT ONLY THOSE FROM THE LOWEST SOCIOECONOMIC STATUS, BUT ALSO MIDDLE- AND UPPER-MIDDLE-CLASS FAMILIES WHO NEED OUR ASSISTANCE AS WELL. FOR THE YEAR ENDED AUGUST 31, 2015, ENDOWMENT PAYOUT SUPPORT INCLUDED THE FOLLOWING BROAD FUNCTIONS OF THE UNIVERSITY: INSTRUCTION AND RESEARCH $297,066,007 STUDENT FINANCIAL AID $237,370,999 LIBRARIES $19,155,993
SCHEDULE D, PART X, LINE 2	ASC 740 LIABILITY - IN ACCORDANCE WITH THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, MANAGEMENT REGULARLY EVALUATES ITS TAX POSITIONS AND DOES NOT BELIEVE THE UNIVERSITY HAS ANY UNCERTAIN TAX POSITIONS THAT REQUIRE DISCLOSURE OR ADJUSTMENT TO THE FINANCIAL STATEMENTS.
SCHEDULE D, PART XI, LINE 2D	FINANCIAL AID $(260,615,588) CHANGE IN POST RETIREMENT BENEFIT OBLIGATION (85,091,000) PAYMENTS TO LIVING TRUST BENEFICIARIES (41,969,099) NET HOSPITAL TRANSFERS 89,962,766 CHANGE IN VALUE OF SWAP AGREEMENTS (5,127,152) SWAP INTEREST RECLASS (3,459,596) GIFT TO HOSPITAL RECLASS (4,073,284) Total:$(310,372,953)
SCHEDULE D, PART XI, LINE 4B	EXPENSES OF SPECIAL EVENTS FROM 990, PART VIII, LINE 8B $ (364,799) COST OF GOODS SOLD FROM 990 PART VIII, LINE 10B (1,725,386) TOTAL: $(2,090,185)
SCHEDULE D, PART XII LINE 2D	EXPENSES OF SPECIAL EVENTS FROM 990, PART VIII, LINE 8B $ 364,799 COST OF GOODS SOLD FROM 990 PART VIII, LINE 10B 1,725,386 TOTAL: $ 2,090,185 SCHEDULE D, PART XII LINE 4B FINANCIAL AID $ 260,615,588 SWAP INTEREST RECLASS 3,459,596 GIFT TO HOSPITAL RECLASSIFICATION 4,073,284 TOTAL: $ 268,148,468

Schedule D (Form 990) 2014

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE E(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Schools

Complete 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 2014Open to Public Inspection

Name of the organization

THE BOARD OF TRUSTEES OF THE LELAND STANFORD
JUNIOR UNIVERSITY

Employer identification number

94-1156365

Part I

YES

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? ......................

Yes

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? ......................................

Yes

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. .............................

Does the organization maintain the following?

Records indicating the racial composition of the student body, faculty, and administrative staff? ..........

Yes

Records documenting that scholarships and other financial assistance are awarded on a racially nondiscriminatory

basis? ...............................................

Yes

Copies of all catalogues, brochures, announcements, and other written communications to the public dealing

with student admissions, programs, and scholarships? ...........................

Yes

Copies of all material used by the organization or on its behalf to solicit contributions? ..............

Yes

If you answered "No" to any of the above, please explain. If you need more space, use Part II.

Does the organization discriminate by race in any way with respect to:

Students' rights or privileges? .....................................

Admissions policies? .........................................

Employment of faculty or administrative staff? ..............................

Scholarships or other financial assistance? ................................

Educational policies? .........................................

Use of facilities? ...........................................

Athletic programs? ..........................................

Other extracurricular activities? .....................................

If you answered "Yes" to any of the above, please explain. If you need more space, use Part II.

Does the organization receive any financial aid or assistance from a governmental agency? ...........

Yes

Has the organization's right to such aid ever been revoked or suspended? ...................

If you answered "Yes" to either line 6a or line 6b, explain on Part II.

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.

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) (2014)

Schedule E (Form 990 or 990EZ) (2014)

Page 2

Part II

Supplemental Information. Provide the explanations required by Part I, lines 3, 4d, 5h, 6b, and 7, as applicable. Also provide any other additional information (see instructions).

Return Reference	Explanation
SCHEDULE E, LINE 3	STANFORD MEETS THE CRITERIA OF SECTION 4.03.2(B) OF REV. PROC. 75-50 THROUGH ADMISSION AND FINANCIAL AID OFFICES OUTREACH PROGRAMS WHICH PUBLICIZE STANFORD UNIVERSITY'S ACADEMIC OPPORTUNITIES AT SECONDARY AND POST-SECONDARY SCHOOLS THROUGHOUT THE UNITED STATES.
SCHEDULE E, LINE 6A	STANFORD UNIVERSITY RECEIVED RESEARCH AND INSTRUCTIONAL GRANTS AND CONTRACTS, FELLOWSHIP AND STUDENT AID AWARDS, LIBRARY GRANTS, AND CONSTRUCTION AND CONTRACTS FROM VARIOUS FEDERAL AGENCIES.

Schedule E (Form 990 or 990-EZ) (2014)

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE F(Form 990)

Department of the Treasury
Internal Revenue Service

Statement of Activities Outside the United States

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

Information about Schedule F (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization
THE BOARD OF TRUSTEES OF THE LELAND STANFORD
JUNIOR UNIVERSITY

Employer identification number

94-1156365

Part I

General Information on Activities Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 14b.

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? ...........................

Yes

For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of its grants and other assistance outside the United States.

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			PROGRAM SERVICES	TRAVEL STUDY	800
	EAST ASIA AND THE PACIFIC			PROGRAM SERVICES	TRAVEL STUDY	87,255
	EUROPE			PROGRAM SERVICES	TRAVEL STUDY	52,608
	MIDDLE EAST & NORTH AFRICA			PROGRAM SERVICES	TRAVEL STUDY	213,261
	NORTH AMERICA			PROGRAM SERVICES	TRAVEL STUDY	8,324
	SOUTH AMERICA			PROGRAM SERVICES	TRAVEL STUDY	24,776
	SOUTH ASIA			PROGRAM SERVICES	TRAVEL STUDY	42,674
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	TRAVEL STUDY	18,665
	EUROPE			PROGRAM SERVICES	STUDY ABROAD - BOSP OX	4,260,039
	EAST ASIA AND THE PACIFIC	1	27	PROGRAM SERVICES	STUDY ABROAD - BOSP OP	2,082,717
	EUROPE	5	149	PROGRAM SERVICES	STUDY ABROAD - BOSP OP	8,960,488
	SOUTH AMERICA	1	17	PROGRAM SERVICES	STUDY ABROAD - BOSP OP	944,552
	SUB-SAHARAN AFRICA	1	17	PROGRAM SERVICES	STUDY ABROAD - BOSP OP	904,454
	ANTARCTICA			PROGRAM SERVICES	SAA STUDY TOURS	800,736
	CENTRAL AMERICA AND THE CARIBBEAN			PROGRAM SERVICES	SAA STUDY TOURS	566,782
	EAST ASIA AND THE PACIFIC			PROGRAM SERVICES	SAA STUDY TOURS	851,501
	EAST ASIA AND THE PACIFIC			PROGRAM SERVICES	SAA STUDY TOURS	3,268,905
	EUROPE			PROGRAM SERVICES	SAA STUDY TOURS	4,735,498
	EUROPE			PROGRAM SERVICES	SAA STUDY TOURS	1,255,163
	MIDDLE EAST & NORTH AFRICA			PROGRAM SERVICES	SAA STUDY TOURS	659,385
	MIDDLE EAST & NORTH AFRICA			PROGRAM SERVICES	SAA STUDY TOURS	298,711
	NORTH AMERICA			PROGRAM SERVICES	SAA STUDY TOURS	724,091
	RUSSIA AND NEIGHBORING STATES			PROGRAM SERVICES	SAA STUDY TOURS	96,532
	SOUTH AMERICA			PROGRAM SERVICES	SAA STUDY TOURS	797,207
	SOUTH ASIA			PROGRAM SERVICES	SAA STUDY TOURS	494,159
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	SAA STUDY TOURS	644,526
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	SAA STUDY TOURS	469,234
	EAST ASIA AND THE PACIFIC			PROGRAM SERVICES	RESEARCH SUB-AWARD CON	268,651
	EUROPE			PROGRAM SERVICES	RESEARCH SUB-AWARD CON	992,434
	MIDDLE EAST & NORTH AFRICA			PROGRAM SERVICES	RESEARCH SUB-AWARD CON	227,374
	NORTH AMERICA			PROGRAM SERVICES	RESEARCH SUB-AWARD CON	169,821
	SOUTH ASIA			PROGRAM SERVICES	RESEARCH SUB-AWARD CON	186,797
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	RESEARCH SUB-AWARD CON	248,262
	EAST ASIA AND THE PACIFIC			PROGRAM SERVICES	RESEARCH - SLAC EXPENS	305,065
	EUROPE			PROGRAM SERVICES	RESEARCH - SLAC EXPENS	1,065,282
	MIDDLE EAST & NORTH AFRICA			PROGRAM SERVICES	RESEARCH - SLAC EXPENS	2,607
	NORTH AMERICA			PROGRAM SERVICES	RESEARCH - SLAC EXPENS	45,167
	SOUTH AMERICA			PROGRAM SERVICES	RESEARCH - SLAC EXPENS	3,265
	SOUTH ASIA			PROGRAM SERVICES	RESEARCH - SLAC EXPENS	2,635
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	RESEARCH - SLAC EXPENS	346
	EUROPE		9	PROGRAM SERVICES	RESEARCH - SLAC CERN	1,162,461
	EUROPE	1	33	PROGRAM SERVICES	RESEARCH - ATALHYK,	359,479
	CENTRAL AMERICA AND THE CARIBBEAN			PROGRAM SERVICES	RESEARCH	92,704
	EAST ASIA AND THE PACIFIC		10	PROGRAM SERVICES	RESEARCH	1,251,430
	EUROPE		17	PROGRAM SERVICES	RESEARCH	2,149,149
	MIDDLE EAST & NORTH AFRICA			PROGRAM SERVICES	RESEARCH	164,079
	NORTH AMERICA		8	PROGRAM SERVICES	RESEARCH	493,815
	RUSSIA AND NEIGHBORING STATES			PROGRAM SERVICES	RESEARCH	57,452
	SOUTH AMERICA		2	PROGRAM SERVICES	RESEARCH	253,995
	SOUTH ASIA		2	PROGRAM SERVICES	RESEARCH	415,858
	SUB-SAHARAN AFRICA		2	PROGRAM SERVICES	RESEARCH	430,180
	EAST ASIA AND THE PACIFIC			PROGRAM SERVICES	INVESTMENT ADMINISTRAT	200,067
	EUROPE			PROGRAM SERVICES	INVESTMENT ADMINISTRAT	423,291
	NORTH AMERICA			PROGRAM SERVICES	INVESTMENT ADMINISTRAT	27,209
	SOUTH AMERICA			PROGRAM SERVICES	INVESTMENT ADMINISTRAT	23,989
	SOUTH ASIA			PROGRAM SERVICES	INVESTMENT ADMINISTRAT	12,226
	EAST ASIA AND THE PACIFIC			PROGRAM SERVICES	INTERDISCIPLINARY CENT	35,771
	EUROPE		1	PROGRAM SERVICES	INTERDISCIPLINARY CENT	81,103
	MIDDLE EAST & NORTH AFRICA			PROGRAM SERVICES	INTERDISCIPLINARY CENT	1,208
	NORTH AMERICA			PROGRAM SERVICES	INTERDISCIPLINARY CENT	16,649
	RUSSIA AND NEIGHBORING STATES			PROGRAM SERVICES	INTERDISCIPLINARY CENT	448
	SOUTH AMERICA			PROGRAM SERVICES	INTERDISCIPLINARY CENT	386
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	INTERDISCIPLINARY CENT	9,161
	EAST ASIA AND THE PACIFIC			PROGRAM SERVICES	GLOBAL ENGINEERING PRO	34,089
	SOUTH AMERICA			PROGRAM SERVICES	GLOBAL ENGINEERING PRO	74,493
	SOUTH ASIA			PROGRAM SERVICES	GLOBAL ENGINEERING PRO	57,022
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	GLOBAL ENGINEERING PRO	24,270
	CENTRAL AMERICA AND THE CARIBBEAN			PROGRAM SERVICES	FOREIGN TRAVEL: RESEAR	38,206
	EAST ASIA AND THE PACIFIC		7	PROGRAM SERVICES	FOREIGN TRAVEL: RESEAR	1,939,645
	EUROPE		15	PROGRAM SERVICES	FOREIGN TRAVEL: RESEAR	2,867,511
	MIDDLE EAST & NORTH AFRICA			PROGRAM SERVICES	FOREIGN TRAVEL: RESEAR	277,445
	NORTH AMERICA		6	PROGRAM SERVICES	FOREIGN TRAVEL: RESEAR	584,313
	RUSSIA AND NEIGHBORING STATES		1	PROGRAM SERVICES	FOREIGN TRAVEL: RESEAR	89,554
	SOUTH AMERICA		2	PROGRAM SERVICES	FOREIGN TRAVEL: RESEAR	267,224
	SOUTH ASIA		1	PROGRAM SERVICES	FOREIGN TRAVEL: RESEAR	505,008
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	FOREIGN TRAVEL: RESEAR	124,761
	EAST ASIA AND THE PACIFIC			PROGRAM SERVICES	FOREIGN TRAVEL: RECRUI	61,795
	EUROPE			PROGRAM SERVICES	FOREIGN TRAVEL: RECRUI	108,319
	MIDDLE EAST & NORTH AFRICA			PROGRAM SERVICES	FOREIGN TRAVEL: RECRUI	16,908
	NORTH AMERICA			PROGRAM SERVICES	FOREIGN TRAVEL: RECRUI	11,910
	RUSSIA AND NEIGHBORING STATES			PROGRAM SERVICES	FOREIGN TRAVEL: RECRUI	776
	SOUTH AMERICA			PROGRAM SERVICES	FOREIGN TRAVEL: RECRUI	11,899
	SOUTH ASIA			PROGRAM SERVICES	FOREIGN TRAVEL: RECRUI	32,159
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	FOREIGN TRAVEL: RECRUI	29,376
	EAST ASIA AND THE PACIFIC		3	PROGRAM SERVICES	FOREIGN TRAVEL: LIBRAR	14,011
	EUROPE			PROGRAM SERVICES	FOREIGN TRAVEL: LIBRAR	54,071
	NORTH AMERICA		1	PROGRAM SERVICES	FOREIGN TRAVEL: LIBRAR	6,012
	EAST ASIA AND THE PACIFIC			PROGRAM SERVICES	FOREIGN TRAVEL: EXTERN	251,863
	EUROPE		4	PROGRAM SERVICES	FOREIGN TRAVEL: EXTERN	274,455
	MIDDLE EAST & NORTH AFRICA			PROGRAM SERVICES	FOREIGN TRAVEL: EXTERN	7,061
	NORTH AMERICA			PROGRAM SERVICES	FOREIGN TRAVEL: EXTERN	8,550
	SOUTH AMERICA			PROGRAM SERVICES	FOREIGN TRAVEL: EXTERN	799
	SOUTH ASIA			PROGRAM SERVICES	FOREIGN TRAVEL: EXTERN	35,495
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	FOREIGN TRAVEL: EXTERN	11,584
	CENTRAL AMERICA AND THE CARIBBEAN			PROGRAM SERVICES	FOREIGN TRAVEL: CONFER	8,082
	EAST ASIA AND THE PACIFIC			PROGRAM SERVICES	FOREIGN TRAVEL: CONFER	2,191
	EAST ASIA AND THE PACIFIC		1	PROGRAM SERVICES	FOREIGN TRAVEL: CONFER	319,336
	EUROPE			PROGRAM SERVICES	FOREIGN TRAVEL: CONFER	17,065
	EUROPE		2	PROGRAM SERVICES	FOREIGN TRAVEL: CONFER	894,752
	MIDDLE EAST & NORTH AFRICA			PROGRAM SERVICES	FOREIGN TRAVEL: CONFER	85,592
	NORTH AMERICA			PROGRAM SERVICES	FOREIGN TRAVEL: CONFER	6,393
	NORTH AMERICA			PROGRAM SERVICES	FOREIGN TRAVEL: CONFER	124,562
	RUSSIA AND NEIGHBORING STATES			PROGRAM SERVICES	FOREIGN TRAVEL: CONFER	3,634
	SOUTH AMERICA			PROGRAM SERVICES	FOREIGN TRAVEL: CONFER	845
	SOUTH AMERICA			PROGRAM SERVICES	FOREIGN TRAVEL: CONFER	44,488
	SOUTH ASIA		1	PROGRAM SERVICES	FOREIGN TRAVEL: CONFER	49,387
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	FOREIGN TRAVEL: CONFER	103,499
	CENTRAL AMERICA AND THE CARIBBEAN			PROGRAM SERVICES	FOREIGN TRAVEL: COLLAB	11,980
	EAST ASIA AND THE PACIFIC			PROGRAM SERVICES	FOREIGN TRAVEL: COLLAB	209,643
	EUROPE			PROGRAM SERVICES	FOREIGN TRAVEL: COLLAB	408,359
	MIDDLE EAST & NORTH AFRICA			PROGRAM SERVICES	FOREIGN TRAVEL: COLLAB	16,030
	NORTH AMERICA			PROGRAM SERVICES	FOREIGN TRAVEL: COLLAB	42,966
	RUSSIA AND NEIGHBORING STATES			PROGRAM SERVICES	FOREIGN TRAVEL: COLLAB	3,856
	SOUTH AMERICA			PROGRAM SERVICES	FOREIGN TRAVEL: COLLAB	22,685
	SOUTH ASIA			PROGRAM SERVICES	FOREIGN TRAVEL: COLLAB	29,082
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	FOREIGN TRAVEL: COLLAB	58,226
	CENTRAL AMERICA AND THE CARIBBEAN			PROGRAM SERVICES	FOREIGN TRAVEL: CLINIC	9,420
	EAST ASIA AND THE PACIFIC			PROGRAM SERVICES	FOREIGN TRAVEL: CLINIC	31,114
	EUROPE			PROGRAM SERVICES	FOREIGN TRAVEL: CLINIC	82,982
	NORTH AMERICA			PROGRAM SERVICES	FOREIGN TRAVEL: CLINIC	52,155
	SOUTH AMERICA			PROGRAM SERVICES	FOREIGN TRAVEL: CLINIC	34,700
	SOUTH ASIA			PROGRAM SERVICES	FOREIGN TRAVEL: CLINIC	7,610
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	FOREIGN TRAVEL: CLINIC	158,425
	EAST ASIA AND THE PACIFIC			PROGRAM SERVICES	FOREIGN TRAVEL: ATHLET	9,974
	EUROPE			PROGRAM SERVICES	FOREIGN TRAVEL: ATHLET	39,683
	NORTH AMERICA			PROGRAM SERVICES	FOREIGN TRAVEL: ATHLET	12,540
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	FOREIGN TRAVEL: ATHLET	237
	CENTRAL AMERICA AND THE CARIBBEAN			PROGRAM SERVICES	FOREIGN TRAVEL: ADMINI	3,763
	EAST ASIA AND THE PACIFIC			PROGRAM SERVICES	FOREIGN TRAVEL: ADMINI	136,189
	EUROPE		2	PROGRAM SERVICES	FOREIGN TRAVEL: ADMINI	220,382
	MIDDLE EAST & NORTH AFRICA			PROGRAM SERVICES	FOREIGN TRAVEL: ADMINI	9,204
	NORTH AMERICA		2	PROGRAM SERVICES	FOREIGN TRAVEL: ADMINI	40,763
	SOUTH AMERICA			PROGRAM SERVICES	FOREIGN TRAVEL: ADMINI	4,079
	SOUTH ASIA			PROGRAM SERVICES	FOREIGN TRAVEL: ADMINI	10,771
	CENTRAL AMERICA AND THE CARIBBEAN			PROGRAM SERVICES	FOREIGN TRAVEL	28,238
	EAST ASIA AND THE PACIFIC		7	PROGRAM SERVICES	FOREIGN TRAVEL	949,097
	EUROPE		7	PROGRAM SERVICES	FOREIGN TRAVEL	2,949,976
	MIDDLE EAST & NORTH AFRICA		2	PROGRAM SERVICES	FOREIGN TRAVEL	153,986
	NORTH AMERICA		4	PROGRAM SERVICES	FOREIGN TRAVEL	925,454
	RUSSIA AND NEIGHBORING STATES			PROGRAM SERVICES	FOREIGN TRAVEL	39,767
	SOUTH AMERICA		2	PROGRAM SERVICES	FOREIGN TRAVEL	234,165
	SOUTH ASIA		4	PROGRAM SERVICES	FOREIGN TRAVEL	182,788
	SUB-SAHARAN AFRICA		2	PROGRAM SERVICES	FOREIGN TRAVEL	163,071
	EAST ASIA AND THE PACIFIC		4	PROGRAM SERVICES	FOREIGN CENTER IUC - O	1,678,448
	EAST ASIA AND THE PACIFIC	1	9	PROGRAM SERVICES	FOREIGN CENTER - CHINA	1,582,060
	EAST ASIA AND THE PACIFIC		1	PROGRAM SERVICES	EDUCATION: EXECUTIVE/P	240,103
	EUROPE		1	PROGRAM SERVICES	EDUCATION: EXECUTIVE/P	262,035
	MIDDLE EAST & NORTH AFRICA			PROGRAM SERVICES	EDUCATION: EXECUTIVE/P	81,719
	NORTH AMERICA			PROGRAM SERVICES	EDUCATION: EXECUTIVE/P	295,443
	SOUTH AMERICA		2	PROGRAM SERVICES	EDUCATION: EXECUTIVE/P	351,497
	SOUTH ASIA			PROGRAM SERVICES	EDUCATION: EXECUTIVE/P	135,092
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	EDUCATION: EXECUTIVE/P	57,899
	SUB-SAHARAN AFRICA	1	10	PROGRAM SERVICES	EDUCATION - SEED GHANA	562,110
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	EDUCATION - SEED GHANA	3,110,943
	CENTRAL AMERICA AND THE CARIBBEAN			PROGRAM SERVICES	EDUCATION	21,644
	EAST ASIA AND THE PACIFIC		6	PROGRAM SERVICES	EDUCATION	778,626
	EUROPE			PROGRAM SERVICES	EDUCATION	591,009
	MIDDLE EAST & NORTH AFRICA			PROGRAM SERVICES	EDUCATION	49,387
	NORTH AMERICA			PROGRAM SERVICES	EDUCATION	170,652
	SOUTH AMERICA			PROGRAM SERVICES	EDUCATION	64,327
	SOUTH ASIA			PROGRAM SERVICES	EDUCATION	74,446
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	EDUCATION	129,344
	CENTRAL AMERICA AND THE CARIBBEAN			PROGRAM SERVICES	CONFERENCES AND SEMINA	200
	EAST ASIA AND THE PACIFIC		1	PROGRAM SERVICES	CONFERENCES AND SEMINA	219,702
	EUROPE			PROGRAM SERVICES	CONFERENCES AND SEMINA	185,173
	MIDDLE EAST & NORTH AFRICA		1	PROGRAM SERVICES	CONFERENCES AND SEMINA	20,347
	NORTH AMERICA			PROGRAM SERVICES	CONFERENCES AND SEMINA	140,064
	RUSSIA AND NEIGHBORING STATES			PROGRAM SERVICES	CONFERENCES AND SEMINA	26,911
	SOUTH AMERICA			PROGRAM SERVICES	CONFERENCES AND SEMINA	101,948
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	CONFERENCES AND SEMINA	693
	CENTRAL AMERICA AND THE CARIBBEAN			PROGRAM SERVICES	BING OVERSEAS STUDIES	34,005
	EAST ASIA AND THE PACIFIC			PROGRAM SERVICES	BING OVERSEAS STUDIES	172,595
	EUROPE			PROGRAM SERVICES	BING OVERSEAS STUDIES	277,487
	NORTH AMERICA			PROGRAM SERVICES	BING OVERSEAS STUDIES	56,694
	RUSSIA AND NEIGHBORING STATES			PROGRAM SERVICES	BING OVERSEAS STUDIES	54,049
	SOUTH AMERICA			PROGRAM SERVICES	BING OVERSEAS STUDIES	7,460
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	BING OVERSEAS STUDIES	10,558
	CENTRAL AMERICA AND THE CARIBBEAN			PROGRAM SERVICES	ADMINISTRATION	266
	EAST ASIA AND THE PACIFIC			PROGRAM SERVICES	ADMINISTRATION	22,973
	EUROPE		2	PROGRAM SERVICES	ADMINISTRATION	98,006
	MIDDLE EAST & NORTH AFRICA			PROGRAM SERVICES	ADMINISTRATION	17,780
	NORTH AMERICA			PROGRAM SERVICES	ADMINISTRATION	33,615
	SOUTH ASIA			PROGRAM SERVICES	ADMINISTRATION	3,029
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	ADMINISTRATION	63,494
	CENTRAL AMERICA AND THE CARIBBEAN			INVESTMENTS		9,946,337,239
	CENTRAL AMERICA AND THE CARIBBEAN			INVESTMENTS		4,653,856
	EAST ASIA AND THE PACIFIC			INVESTMENTS		821,932,507
	EUROPE			INVESTMENTS		973,173,724
	MIDDLE EAST & NORTH AFRICA			INVESTMENTS		33,644,500
	NORTH AMERICA			INVESTMENTS		388,581,534
	NORTH AMERICA			INVESTMENTS		2,492,412
	RUSSIA AND NEIGHBORING STATES			INVESTMENTS		42,735
	SOUTH AMERICA			INVESTMENTS		31,106,137
	SOUTH ASIA			INVESTMENTS		94,999,943
	SUB-SAHARAN AFRICA			INVESTMENTS		275,140,686
	SUB-SAHARAN AFRICA			INVESTMENTS		2,206,086
	CENTRAL AMERICA AND THE CARIBBEAN			GRANTMAKING		3,300
	CENTRAL AMERICA AND THE CARIBBEAN			GRANTMAKING		510
	CENTRAL AMERICA AND THE CARIBBEAN			GRANTMAKING		10,675
	CENTRAL AMERICA AND THE CARIBBEAN			GRANTMAKING		8,000
	CENTRAL AMERICA AND THE CARIBBEAN			GRANTMAKING		5,000
	CENTRAL AMERICA AND THE CARIBBEAN			GRANTMAKING		91,747
	EAST ASIA AND THE PACIFIC			GRANTMAKING		7,500
	EAST ASIA AND THE PACIFIC			GRANTMAKING		203,182
	EAST ASIA AND THE PACIFIC			GRANTMAKING		38,737
	EAST ASIA AND THE PACIFIC			GRANTMAKING		17,500
	EAST ASIA AND THE PACIFIC			GRANTMAKING		18,100
	EAST ASIA AND THE PACIFIC			GRANTMAKING		10,000
	EAST ASIA AND THE PACIFIC			GRANTMAKING		56,850
	EAST ASIA AND THE PACIFIC			GRANTMAKING		3,500
	EAST ASIA AND THE PACIFIC			GRANTMAKING		11,200
	EAST ASIA AND THE PACIFIC			GRANTMAKING		108,250
	EAST ASIA AND THE PACIFIC			GRANTMAKING		45,764
	EAST ASIA AND THE PACIFIC			GRANTMAKING		41,430
	EAST ASIA AND THE PACIFIC			GRANTMAKING		871,548
	EAST ASIA AND THE PACIFIC			GRANTMAKING		6,900
	EAST ASIA AND THE PACIFIC			GRANTMAKING		2,491
	EAST ASIA AND THE PACIFIC			GRANTMAKING		30,443
	EAST ASIA AND THE PACIFIC			GRANTMAKING		40,900
	EUROPE			GRANTMAKING		125,969
	EUROPE			GRANTMAKING		10,500
	EUROPE			GRANTMAKING		341,477
	EUROPE			GRANTMAKING		2,000
	EUROPE			GRANTMAKING		6,000
	EUROPE			GRANTMAKING		31,100
	EUROPE			GRANTMAKING		14,239
	EUROPE			GRANTMAKING		16,105
	EUROPE			GRANTMAKING		1,279,630
	EUROPE			GRANTMAKING		13,571
	EUROPE			GRANTMAKING		11,176
	EUROPE			GRANTMAKING		150,300
	MIDDLE EAST & NORTH AFRICA			GRANTMAKING		32,190
	MIDDLE EAST & NORTH AFRICA			GRANTMAKING		246,750
	MIDDLE EAST & NORTH AFRICA			GRANTMAKING		12,250
	MIDDLE EAST & NORTH AFRICA			GRANTMAKING		134,762
	MIDDLE EAST & NORTH AFRICA			GRANTMAKING		2,834
	MIDDLE EAST & NORTH AFRICA			GRANTMAKING		6,400
	NORTH AMERICA			GRANTMAKING		9,200
	NORTH AMERICA			GRANTMAKING		51,048
	NORTH AMERICA			GRANTMAKING		76,250
	NORTH AMERICA			GRANTMAKING		30,000
	NORTH AMERICA			GRANTMAKING		1,509
	NORTH AMERICA			GRANTMAKING		1,845,975
	NORTH AMERICA			GRANTMAKING		4,343
	NORTH AMERICA			GRANTMAKING		8,212
	NORTH AMERICA			GRANTMAKING		1,245
	RUSSIA AND NEIGHBORING STATES			GRANTMAKING		3,900
	RUSSIA AND NEIGHBORING STATES			GRANTMAKING		8,058
	RUSSIA AND NEIGHBORING STATES			GRANTMAKING		1,500
	RUSSIA AND NEIGHBORING STATES			GRANTMAKING		6,635
	RUSSIA AND NEIGHBORING STATES			GRANTMAKING		6,400
	SOUTH AMERICA			GRANTMAKING		18,534
	SOUTH AMERICA			GRANTMAKING		44,000
	SOUTH AMERICA			GRANTMAKING		18,147
	SOUTH AMERICA			GRANTMAKING		5,600
	SOUTH AMERICA			GRANTMAKING		25,750
	SOUTH AMERICA			GRANTMAKING		13,000
	SOUTH AMERICA			GRANTMAKING		7,000
	SOUTH AMERICA			GRANTMAKING		1,500
	SOUTH AMERICA			GRANTMAKING		8,900
	SOUTH ASIA			GRANTMAKING		99,133
	SOUTH ASIA			GRANTMAKING		3,753
	SOUTH ASIA			GRANTMAKING		17,500
	SOUTH ASIA			GRANTMAKING		4,500
	SOUTH ASIA			GRANTMAKING		22,000
	SOUTH ASIA			GRANTMAKING		5,500
	SOUTH ASIA			GRANTMAKING		17,000
	SOUTH ASIA			GRANTMAKING		3,700
	SOUTH ASIA			GRANTMAKING		10,500
	SOUTH ASIA			GRANTMAKING		14,846
	SOUTH ASIA			GRANTMAKING		63,950
	SOUTH ASIA			GRANTMAKING		955,992
	SOUTH ASIA			GRANTMAKING		19,200
	SUB-SAHARAN AFRICA			GRANTMAKING		7,800
	SUB-SAHARAN AFRICA			GRANTMAKING		41,625
	SUB-SAHARAN AFRICA			GRANTMAKING		2,000
	SUB-SAHARAN AFRICA			GRANTMAKING		14,125
	SUB-SAHARAN AFRICA			GRANTMAKING		40,300
	SUB-SAHARAN AFRICA			GRANTMAKING		5,500
	SUB-SAHARAN AFRICA			GRANTMAKING		5,000
	SUB-SAHARAN AFRICA			GRANTMAKING		10,000
	SUB-SAHARAN AFRICA			GRANTMAKING		20,450
	SUB-SAHARAN AFRICA			GRANTMAKING		46,336
	SUB-SAHARAN AFRICA			GRANTMAKING		4,178
	SUB-SAHARAN AFRICA			GRANTMAKING		455,653
	SUB-SAHARAN AFRICA			GRANTMAKING		39
	SUB-SAHARAN AFRICA			GRANTMAKING		600
	EAST ASIA AND THE PACIFIC			FUNDRAISING		53,214
	EAST ASIA AND THE PACIFIC			FUNDRAISING		86,219
	EAST ASIA AND THE PACIFIC			FUNDRAISING		39,662
	EUROPE		1	FUNDRAISING		33,206
	EUROPE			FUNDRAISING		197,100
	EUROPE			FUNDRAISING		42,338
	MIDDLE EAST & NORTH AFRICA			FUNDRAISING		99
	NORTH AMERICA			FUNDRAISING		7,129
	NORTH AMERICA			FUNDRAISING		4,605
	SOUTH AMERICA			FUNDRAISING		12,363
	SOUTH AMERICA			FUNDRAISING		3,761
	SOUTH ASIA			FUNDRAISING		4,723
3a	Sub-total .....	8	210			23,088,537
b	Total from continuation sheets to Part I ...	3	198			12,632,866,369
c	Totals (add lines 3a and 3b)	11	408			12,655,954,906

For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2014

Schedule F (Form 990) 2014

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.

(a)(c) Region	(b)(d) Purpose of grant	(e) Amount of cash grant	(f) Manner of cash disbursement
SOUTH ASIA	RESEARCH SUB	666,448	CHECK/WIRE
SOUTH ASIA	RESEARCH SUB	15,474	CHECK/WIRE
MIDDLE EAST & NORTH AFRICA	RESEARCH SUB	142,867	CHECK/WIRE
EAST ASIA AND THE PACIFIC	RESEARCH SUB	52,214	CHECK/WIRE
NORTH AMERICA	RESEARCH SUB	141,072	CHECK/WIRE
SUB-SAHARAN AFRICA	RESEARCH SUB	49,800	CHECK/WIRE
EUROPE	RESEARCH SUB	77,772	CHECK/WIRE
SUB-SAHARAN AFRICA	RESEARCH SUB	151,843	CHECK/WIRE
EUROPE	RESEARCH SUB	60,200	CHECK/WIRE
EUROPE	RESEARCH SUB	223,482	CHECK/WIRE
SOUTH ASIA	RESEARCH SUB	165,645	CHECK/WIRE
EUROPE	RESEARCH SUB	142,453	CHECK/WIRE
EUROPE	RESEARCH SUB	66,063	CHECK/WIRE
SOUTH ASIA	RESEARCH SUB	804,050	CHECK/WIRE
NORTH AMERICA	RESEARCH SUB	86,019	CHECK/WIRE
EUROPE	RESEARCH SUB	144,826	CHECK/WIRE
SUB-SAHARAN AFRICA	RESEARCH SUB	102,000	CHECK/WIRE
EAST ASIA AND THE PACIFIC	RESEARCH SUB	85,693	CHECK/WIRE
EUROPE	RESEARCH SUB	145,789	CHECK/WIRE
NORTH AMERICA	RESEARCH SUB	21,193	CHECK/WIRE
EUROPE	RESEARCH SUB	8,054	CHECK/WIRE
EAST ASIA AND THE PACIFIC	RESEARCH SUB	103,965	CHECK/WIRE
EAST ASIA AND THE PACIFIC	RESEARCH SUB	261,972	CHECK/WIRE
NORTH AMERICA	RESEARCH SUB	27,807	CHECK/WIRE
EUROPE	RESEARCH SUB	22,442	CHECK/WIRE
EUROPE	RESEARCH SUB	16,440	CHECK/WIRE
MIDDLE EAST & NORTH AFRICA	RESEARCH SUB	102,848	CHECK/WIRE
MIDDLE EAST & NORTH AFRICA	RESEARCH SUB	91,747	CHECK/WIRE
CENTRAL AMERICA AND THE CARIBBEAN	RESEARCH SUB	18,210	CHECK/WIRE
SUB-SAHARAN AFRICA	RESEARCH SUB	137,160	CHECK/WIRE
EUROPE	RESEARCH SUB	97,250	CHECK/WIRE
NORTH AMERICA	RESEARCH SUB	14,838	CHECK/WIRE
EUROPE	RESEARCH SUB	162,030	CHECK/WIRE
NORTH AMERICA	RESEARCH SUB	12,223	CHECK/WIRE
EAST ASIA AND THE PACIFIC	RESEARCH SUB	42,292	CHECK/WIRE
NORTH AMERICA	RESEARCH SUB	491,794	CHECK/WIRE
EAST ASIA AND THE PACIFIC	RESEARCH SUB	312,444	CHECK/WIRE
EUROPE	RESEARCH SUB	25,000	CHECK/WIRE
NORTH AMERICA	RESEARCH SUB	22,300	CHECK/WIRE
EAST ASIA AND THE PACIFIC	RESEARCH SUB	107,365	CHECK/WIRE
NORTH AMERICA	RESEARCH SUB	148,013	CHECK/WIRE
NORTH AMERICA	RESEARCH SUB	65,718	CHECK/WIRE
EUROPE	RESEARCH SUB	60,000	CHECK/WIRE

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

Enter total number of other organizations or entities ....................... MediumBullet

Schedule F (Form 990) 2014

Schedule F (Form 990) 2014Page 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.

	(b) Region	(c) Number of recipients	(d) Amount of cash grant	(e) Manner of cash disbursement
FELLOWSHIP	EAST ASIA AND THE PACIFIC	104	341,477	CHECK/WIRE
FELLOWSHIP - RESEARCH	EUROPE	104	246,750	CHECK/EFT
FELLOWSHIP	MIDDLE EAST & NORTH AFRICA	1	203,182	CHECK/EFT
UAR - UNDERGRADUATE RESEARCH GRANTS	EAST ASIA AND THE PACIFIC	67	150,300	CHECK/EFT
BING OVERSEAS STUDIES PROGRAM (KRUPP INTERNSHIP)	EUROPE	26	125,969	CHECK/EFT
IUC JAPAN - GRANTS	EUROPE	42	108,250	CHECK/EFT
FELLOWSHIP	EAST ASIA AND THE PACIFIC	2	99,133	CHECK/EFT
FELLOWSHIP - RESEARCH	SOUTH ASIA	21	76,250	CHECK/EFT
RESEARCH GRANT	NORTH AMERICA	3	63,950	CHECK/EFT
HAAS - IMPACT ABROAD	SOUTH ASIA	5	56,850	CHECK/EFT
FELLOWSHIP	EAST ASIA AND THE PACIFIC	13	51,048	CHECK/EFT
OFFICE OF INTERNATIONAL AFFAIRS GRANTS	NORTH AMERICA	27	46,336	CHECK/EFT
OFFICE OF INTERNATIONAL AFFAIRS GRANTS	SUB-SAHARAN AFRICA	3	45,764	CHECK/EFT
FELLOWSHIP - RESEARCH	EAST ASIA AND THE PACIFIC	1	44,000	CHECK/EFT
FELLOWSHIP	SOUTH AMERICA	1	41,625	CHECK/EFT
RESEARCH GRANT	SUB-SAHARAN AFRICA	13	41,430	CHECK/EFT
UAR - UNDERGRADUATE RESEARCH GRANTS	EAST ASIA AND THE PACIFIC	5	40,900	CHECK/EFT
HAAS - AFRICAN SERVICE FELLOWSHIP	EAST ASIA AND THE PACIFIC	11	40,300	CHECK/EFT
GLOBAL ENGINEERING PROGRAM	SUB-SAHARAN AFRICA	7	38,737	CHECK/EFT
FELLOWSHIP	EAST ASIA AND THE PACIFIC	4	32,190	CHECK/EFT
HAAS - SIG	MIDDLE EAST & NORTH AFRICA	11	31,100	CHECK/EFT
STUDENT AID	EUROPE	5	30,443	CHECK/EFT
OFFICE OF INTERNATIONAL AFFAIRS GRANTS	EAST ASIA AND THE PACIFIC	14	30,000	CHECK/EFT
HAAS - IMPACT ABROAD	NORTH AMERICA	1	25,750	CHECK/EFT
HAAS - HAAS SUMMER PROJECTS FELLOWSHIP	SOUTH AMERICA	8	22,000	CHECK/EFT
HAAS - SIG	SOUTH ASIA	4	20,450	CHECK/EFT
UAR - UNDERGRADUATE RESEARCH GRANTS	SUB-SAHARAN AFRICA	3	19,200	CHECK/EFT
FELLOWSHIP	SOUTH ASIA	3	18,534	CHECK/EFT
GLOBAL ENGINEERING PROGRAM	SOUTH AMERICA	12	18,147	CHECK/EFT
HAAS - HAAS SUMMER PROJECTS FELLOWSHIP	SOUTH AMERICA	1	18,100	CHECK/EFT
HAAS - INTERNATIONAL SERVICE GRANTS	EAST ASIA AND THE PACIFIC	3	17,500	CHECK/EFT
HAAS - INTERNATIONAL SERVICE GRANTS	SOUTH ASIA	1	17,500	CHECK/EFT
HAAS - INTERNATIONAL SERVICE GRANTS	EAST ASIA AND THE PACIFIC	1	17,000	CHECK/EFT
RESEARCH GRANT	SOUTH ASIA	3	16,105	CHECK/EFT
OFFICE OF INTERNATIONAL AFFAIRS GRANTS	EUROPE	3	14,846	CHECK/EFT
OFFICE OF INTERNATIONAL AFFAIRS GRANTS	SOUTH ASIA	2	14,239	CHECK/EFT
GLOBAL ENGINEERING PROGRAM	EUROPE	1	14,125	CHECK/EFT
STIPENDS	SUB-SAHARAN AFRICA	1	13,571	CHECK/EFT
HAAS - INTERNATIONAL GRANTS FELLOWSHIPS	EUROPE	9	13,000	CHECK/EFT
HAAS - SIG	SOUTH AMERICA	3	12,250	CHECK/EFT
HAAS - SIG	MIDDLE EAST & NORTH AFRICA	2	11,200	CHECK/EFT
STUDENT AID	EAST ASIA AND THE PACIFIC	2	11,176	CHECK/EFT
HAAS - IMPACT ABROAD	EUROPE	10	10,675	CHECK/EFT
BING OVERSEAS STUDIES PROGRAM (SEMINAR WAIVERS)	CENTRAL AMERICA AND THE CARIBBEAN	7	10,500	CHECK/EFT
HAAS - SIG	EUROPE	20	10,500	CHECK/EFT
HAAS - INTERNATIONAL GRANTS FELLOWSHIPS	SOUTH ASIA	2	10,000	CHECK/EFT
HAAS - HALPER INTERNATIONAL FELLOWSHIP	SUB-SAHARAN AFRICA	3	10,000	CHECK/EFT
BING OVERSEAS STUDIES PROGRAM (SEMINAR WAIVERS)	EAST ASIA AND THE PACIFIC	2	9,200	CHECK/EFT
UAR - UNDERGRADUATE RESEARCH GRANTS	NORTH AMERICA	13	8,900	CHECK/EFT
STUDENT AID	SOUTH AMERICA	4	8,212	CHECK/EFT
FELLOWSHIP	NORTH AMERICA	8	8,058	CHECK/EFT
HAAS - INTERNATIONAL GRANTS FELLOWSHIPS	RUSSIA AND NEIGHBORING STATES	4	8,000	CHECK/EFT
BING OVERSEAS STUDIES PROGRAM (SEMINAR WAIVERS)	CENTRAL AMERICA AND THE CARIBBEAN	2	7,800	CHECK/EFT
BING OVERSEAS STUDIES PROGRAM (SEMINAR WAIVERS)	SUB-SAHARAN AFRICA	13	7,500	CHECK/EFT
HAAS - SIG	EAST ASIA AND THE PACIFIC	14	7,000	CHECK/EFT
SCHOLARSHIP	SOUTH AMERICA	1	6,900	CHECK/EFT
STUDENT AID	EAST ASIA AND THE PACIFIC	4	6,635	CHECK/EFT
UAR - UNDERGRADUATE RESEARCH GRANTS	RUSSIA AND NEIGHBORING STATES	1	6,400	CHECK/EFT
UAR - UNDERGRADUATE RESEARCH GRANTS	MIDDLE EAST & NORTH AFRICA	1	6,400	CHECK/EFT
HAAS - HAAS SUMMER PROJECTS FELLOWSHIP	RUSSIA AND NEIGHBORING STATES	1	6,000	CHECK/EFT
HAAS - HAAS SUMMER PROJECTS FELLOWSHIP	EUROPE	1	5,600	CHECK/EFT
HAAS - HALPER INTERNATIONAL FELLOWSHIP	SOUTH AMERICA	1	5,500	CHECK/EFT
HAAS - HAAS SUMMER PROJECTS FELLOWSHIP	SOUTH ASIA	1	5,500	CHECK/EFT
HAAS - SIG	SUB-SAHARAN AFRICA	1	5,000	CHECK/EFT
HAAS - HALPER INTERNATIONAL FELLOWSHIP	CENTRAL AMERICA AND THE CARIBBEAN	1	5,000	CHECK/EFT
HAAS - CORPORATE SOCIAL RESPONSIBIITY FELLOWSHIP	SUB-SAHARAN AFRICA	1	4,500	CHECK/EFT
STIPENDS	SOUTH ASIA	1	4,343	CHECK/EFT
RESEARCH GRANT	NORTH AMERICA	4	4,178	CHECK/EFT
BING OVERSEAS STUDIES PROGRAM (SEMINAR WAIVERS)	SUB-SAHARAN AFRICA	2	3,900	CHECK/EFT
GLOBAL ENGINEERING PROGRAM	RUSSIA AND NEIGHBORING STATES	7	3,753	CHECK/EFT
HAAS - PROJECT DOSTI	SOUTH ASIA	1	3,700	CHECK/EFT
HAAS - INTERNATIONAL GRANTS FELLOWSHIPS	SOUTH ASIA	3	3,500	CHECK/EFT
BING OVERSEAS STUDIES PROGRAM (SEMINAR WAIVERS)	EAST ASIA AND THE PACIFIC	1	3,300	CHECK/EFT
STIPENDS	CENTRAL AMERICA AND THE CARIBBEAN	6	2,834	CHECK/EFT
STIPENDS	MIDDLE EAST & NORTH AFRICA	2	2,491	CHECK/EFT
FELLOWSHIP - RESEARCH	EAST ASIA AND THE PACIFIC	2	2,000	CHECK/EFT
FELLOWSHIP - RESEARCH	SUB-SAHARAN AFRICA	2	2,000	CHECK/EFT
RESEARCH GRANT	EUROPE	2	1,509	CHECK/EFT
STIPENDS	NORTH AMERICA	2	1,500	CHECK/EFT
STIPENDS	SOUTH AMERICA	1	1,500	CHECK/EFT
UAR - UNDERGRADUATE RESEARCH GRANTS	RUSSIA AND NEIGHBORING STATES	1	1,245	CHECK/EFT
UAR - UNDERGRADUATE RESEARCH GRANTS	NORTH AMERICA	1	600	CHECK/EFT
FELLOWSHIP	SUB-SAHARAN AFRICA	1	510	CHECK/EFT
STUDENT AID	CENTRAL AMERICA AND THE CARIBBEAN	1	39	CHECK/EFT

Schedule F (Form 990) 2014

Page 4

Part IV

Foreign Forms

Schedule F (Form 990) 2014

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
PART I: LINE 2: PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS	STANFORD UNIVERSITY IS NOT A "GRANTMAKER" PER SE IN THAT ITS FUNDAMENTAL MISSION, AND PURPOSE FOR TAX-EXEMPTION, RELATES TO TEACHING, RESEARCH AND PATIENT CARE ACTIVITIES. HOWEVER, IN THE COURSE OF THESE MISSION-BASED ACTIVITIES, THE UNIVERSITY DOES MAKE PAYMENTS THAT MEET THE CRITERIA FOR 'GRANTMAKING' AS DEFINED BY THE INSTRUCTIONS TO IRS 990 SCHEDULE F. PROCEDURES FOR MONITORING USE OF GRANT FUNDS OUTSIDE OF THE U.S. ARE PRINCIPALLY GOVERNED BY THE PURPOSE FOR WHICH THE FUNDS WERE GRANTED: FINANCIAL AID: SCHOLARSHIPS, STIPENDS AND FELLOWSHIPS FOR MOST U.S. INSTITUTIONS OF HIGHER EDUCATION, PROVISION OF FINANCIAL AID TO STUDENTS IS AN IMPORTANT ACTIVITY ENABLING QUALIFIED STUDENTS TO OBTAIN A COLLEGE EDUCATION AT THE UNDERGRADUATE, GRADUATE OR POSTDOCTORAL LEVEL. STANFORD IS COMMITTED TO A "NEED-BLIND" ADMISSION POLICY FOR U.S. CITIZENS AND PERMANENT RESIDENTS; IT ADMITS QUALIFIED STUDENTS WITHOUT REGARD TO THEIR ABILITY TO PAY, AND PROVIDES A COMPREHENSIVE FINANCIAL AID PROGRAM FOR ALL ADMITTED STUDENTS WHO HAVE UNIVERSITY-COMPUTED NEED, AND WHO MEET STATED FINANCIAL AID ELIGIBILITY REQUIREMENTS. FOR THE FISCAL YEAR, ENDED AUGUST 31, 2015, 85% OF UNDERGRADUATE AND 85% OF GRADUATE STUDENTS RECEIVED SOME FORM OF FINANCIAL AID, WITH A TOTAL OF $368,969,747 OF FINANCIAL AID DISBURSED TO ALL STANFORD STUDENTS. APPROXIMATELY 66% OF THIS AID TOOK THE FORM OF TRANSFERS FROM INTERNAL UNIVERSITY FUNDS TO OFFSET TUITION AND OTHER UNIVERSITY CHARGES THAT WOULD OTHERWISE HAVE BEEN RECEIVED BY THE UNIVERSITY. THE BALANCE OF $135,841,085 REPRESENTS DISBURSEMENTS, PRIMARILY TO GRADUATE STUDENTS, FOR STIPENDS, FELLOWSHIPS AND OTHER STUDENT AID, IN SUPPORT OF ACADEMIC EFFORT. FOR THE VAST MAJORITY OF ENROLLED STUDENTS, THESE AMOUNTS ARE PAID BY DIRECT DEPOSIT TO STUDENT BANK ACCOUNTS IN THE UNITED STATES. AT THE TIME OF CONSTRUCTIVE RECEIPT OF THESE FUNDS IN THE U.S., IT IS POSSIBLE THAT STUDENTS (PARTICULARLY DOCTORAL STUDENTS) MIGHT BE TRAVELING, OR "LIVING", OUTSIDE OF THE U.S. DURING THE COURSE OF THEIR ACADEMIC WORK, OR EVEN FOR PERSONAL PURPOSES. STANFORD REQUIRES THAT STUDENTS WHO ARE RECEIVING FINANCIAL AID MAINTAIN THEIR REGISTRATION STATUS, AND BE ENROLLED FOR ACADEMIC CREDIT IN UNIVERSITY-APPROVED PROGRAMS. THE UNIVERSITY DOES NOT BROADLY CONSIDER FINANCIAL AID DISBURSEMENTS IN THE UNITED STATES TO ENROLLED STUDENTS AS "GRANTS TO FOREIGN INDIVIDUALS" AND THEREFORE, DOES NOT TRACK PAYMENTS IN THAT MANNER. ACCORDINGLY, ONLY THOSE GRANTS PAID OUTSIDE OF THE UNITED STATES, OR GRANTS FOR USE OUTSIDE THE UNITED STATES FOR PROGRAMS WHICH HAVE A READILY IDENTIFIABLE FOREIGN COMPONENT THAT IS SEPARATELY TRACKED ARE REPORTED ON SCHEDULE F. THE FOLLOWING CATEGORIES OF AID ARE PAID DIRECTLY TO STUDENTS OR SCHOLARS OUTSIDE OF THE UNITED STATES, OR FOR INTENDED USE OUTSIDE THE U.S., AND ARE REPORTED ON SCHEDULE F, PART III. 1. RESEARCH GRANTS: THE UNIVERSITY FUNDS INDEPENDENT RESEARCH GRANT PROGRAMS AVAILABLE ON A COMPETITIVE BASIS TO UNDERGRADUATES. AS WITH MOST FINANCIAL AID, THESE GRANTS ARE DISBURSED IN THE UNITED STATES TO ENROLLED STUDENTS. OPPORTUNITIES TO FORMALLY PRESENT RESULTING ACADEMIC RESEARCH FINDINGS ARE PROVIDED, WHICH CONTRIBUTES TO THE ASSURANCE THAT MONIES ARE USED FOR THE INTENDED PURPOSE. ONLY THOSE AWARDS WHERE THE INTENDED USE OF THE RESEARCH GRANT IS OUTSIDE OF THE U.S., ARE REPORTED IN PART III. 2. SERVICE LEARNING FELLOWSHIPS AND TRAVEL GRANTS: STANFORD'S HAAS CENTER FOR PUBLIC SERVICE AND THE SCHOOL OF ENGINEERING'S GLOBAL ENGINEERING PROGRAM MANAGE PROGRAMS TO ENGAGE STANFORD STUDENTS IN SERVICE LEARNING OPPORTUNITIES. THESE PLACEMENTS ARE CLOSELY MONITORED BY PROGRAM OFFICERS PRIOR TO AND AFTER THEY OCCUR, TO ASSURE MAXIMUM BENEFIT OF THE LEARNING EXPERIENCE. FELLOWSHIPS PLACEMENTS OUTSIDE OF THE U.S. FOR WHICH STUDENTS RECEIVED SUPPORT ARE REPORTED IN PART III. 3. SCHOLARSHIPS: STANFORD MANAGES A CONSORTIUM LANGUAGE PROGRAM LOCATED IN THE EAST ASIA/PACIFIC REGION ON BEHALF OF SEVERAL U.S. UNIVERSITIES. SCHOLARSHIPS TO ATTEND THIS PROGRAM ARE AWARDED BY THE CONSORTIUM, AND ARE DISBURSED FROM STANFORD DIRECTLY TO THE IN-COUNTRY CONSORTIUM PROGRAM OFFICE. THESE AMOUNTS ARE REPORTED IN PART III. 4. OVERSEAS STUDIES PROGRAM-INTERNSHIP STIPENDS: AS PART OF ITS UNDERGRADUATE OVERSEAS STUDY PROGRAM, THE UNIVERSITY IS ABLE TO PLACE ELIGIBLE STANFORD STUDENTS IN LOCAL INTERNSHIPS FOR 3-6 MONTHS. STUDENTS ARE PAID A STIPEND TO COVER THEIR HOUSING, FOOD AND LIVING EXPENSES. UNIVERSITY PROGRAM MANAGERS IN THESE COUNTRIES WORK WITH RECIPIENT ORGANIZATIONS TO MONITOR STUDENT PERFORMANCE AND PROVIDE FEEDBACK. THESE AMOUNTS ARE REPORTED IN PART III AS GRANTS TO INDIVIDUALS, LIVING OUTSIDE OF THE U.S. THE IN-COUNTRY EXPENDITURES RELATING TO EACH OF THE OVERSEAS STUDIES CENTERS ARE REPORTED IN PART I, LINE 3 AS A PROGRAM ACTIVITY. A VERY SMALL PROPORTION OF THOSE EXPENSES ARE REPRESENTED BY CASH PAYMENTS TO STUDENTS FOR PER DIEM MEAL ALLOWANCES. THESE HAVE BEEN INCLUDED AS PROGRAM ACTIVITY EXPENSES, NOT AS GRANTS TO INDIVIDUALS. 5. RESEARCH FELLOWSHIPS: STUDENTS AND FACULTY RECEIVE INTERNAL AND EXTERNAL FUNDS FOR INDEPENDENT RESEARCH. PROJECTS DESCRIBED AS SUCH IN THE FINANCIAL SYSTEM WITH FOREIGN ACTIVITY ARE REPORTED IN PART III. 6. OVERSEAS SEMINAR FEE WAIVERS: AS PART OF THE OVERSEAS STUDY PROGRAM, THE UNIVERSITY OFFERS SEMINARS ABROAD WHICH PROVIDE UNDERGRADUATE STUDENTS THE OPPORTUNITY TO EARN CREDITS WHILE STUDYING ABROAD FOR 3-4 WEEKS. ELIGIBLE STUDENTS MAY QUALIFY FOR FEE WAIVERS. INDIVIDUAL RECIPIENTS ARE REPORTED IN PART III. SUB-AWARDS: SUB-AWARDS ARE PAYMENTS TO THIRD PARTY RECIPIENTS FOR PERFORMING A PORTION OF A STANFORD RESEARCH PROGRAM, MOST OFTEN A SPONSORED-RESEARCH PROJECT. MANY SUB-AWARDS ARE AGREEMENTS FOR CONTRACTUALLY DEFINED DELIVERABLES, USUALLY REQUIRING HIGHLY SPECIFIC EXPERTISE. AS SUCH THEY COULD BE DESCRIBED AS RESEARCH CONTRACTS. HOWEVER, CERTAIN SUB-AWARDS MIGHT ALSO BE CATEGORIZED AS GRANTS, DEPENDING ON THE NATURE OF THE ORIGINATING PRIME FUNDING SOURCE, SINCE THE TERMS AND CONDITIONS OF THE ORIGINATING FUNDING SOURCE GENERALLY FLOW THROUGH TO THE SUB-AWARD. ACCORDINGLY, GRANT-FUNDED SUB-AWARDS ARE REPORTED IN PART II. CONTRACT-FUNDED SUB-AWARDS CONTRACT-FUNDED SUB-AWARDS TO FOREIGN RECIPIENTS ARE REPORTED IN PART I, LINE 3 AS RESEARCH PROGRAM ACTIVITIES. THE PROCEDURES FOR MONITORING BOTH TYPES OF SUB-AWARDS ARE ESSENTIALLY IDENTICAL. AN INITIAL RISK ASSESSMENT OF THE RECIPIENT IS CONDUCTED PRIOR TO THE GRANTING OF THE SUB-AWARD. THIS, TOGETHER WITH AN AUDIT/FINANCIALS REVIEW, PROVIDES INSIGHT ON WHETHER IT IS APPROPRIATE AND REASONABLE TO ENTER INTO THE SUB-AWARD, OR WHETHER ADDITIONAL TERMS MUST BE ADDED TO THE SUB-AWARD AGREEMENT FOR GREATER ASSURANCE OF ITS SAFE-HANDLING. IN ACCORDANCE WITH U.S. OFFICE OF MANAGEMENT AND BUDGET (OMB) CIRCULAR REQUIREMENTS, THE SUB-RECIPIENT IS REQUIRED TO ANNUALLY COMPLETE A QUESTIONNAIRE DESIGNED TO ASSESS CERTAIN ASPECTS OF THE ENTITY'S INTERNAL CONTROLS AND FINANCIAL STATUS. THIS INFORMATION IS COLLECTED AND REVIEWED BY SPONSORED RESEARCH SPECIALISTS. INVOICES SUBMITTED BY THE SUB-RECIPIENT TO THE UNIVERSITY ARE REVIEWED TO ENSURE THAT CHARGED EXPENSES MEET BOTH INTERNAL ACCOUNTING POLICIES, AS WELL AS STANDARDS ESTABLISHED BY U.S. OMB CIRCULAR REQUIREMENTS AWARDS ARE MONITORED ON AN ONGOING BASIS BY MEETING, REPORT OR COMMUNICATION, BY BOTH THE AWARD PRINCIPAL INVESTIGATOR AND THE UNIVERSITY'S SUB-RECIPIENT MONITORING OFFICER TO ENSURE THAT PROGRESS IS BEING MADE AS AGREED.
PART I, LINE 3: DETAILS FOR EACH TYPE OF ACTIVITY CONDUCTED	AS A LEADING RESEARCH INSTITUTION, STANFORD UNIVERSITY CONDUCTS ACTIVITIES ALL OVER THE WORLD IN PURSUIT OF ITS ACADEMIC MISSION OF EDUCATION, RESEARCH AND PATIENT CARE. ITS STUDENTS, FACULTY AND ALUMNI COMMUNITIES ARE SIMILARLY INTERNATIONAL IN CHARACTER, AND SEEK TO COLLABORATE IN AN INTERDEPENDENT WORLD TO UNDERSTAND AND SOLVE GLOBAL CHALLENGES. IN ACCORDANCE WITH THE FORM 990 INSTRUCTIONS, THE UNIVERSITY HAS REPORTED ON SCHEDULE F EXPENDITURES RELATING TO FOREIGN ACTIVITIES WHICH ARE SEPARATELY TRACKED IN THE ACCOUNTING SYSTEM. STANFORD CONTINUES TO INVEST IN ENHANCEMENTS TO ITS FINANCIAL INFORMATION SYSTEMS TO ASSURE THE MOST ACCURATE REPORTING AND CATEGORIZATION OF THESE EXPENDITURES. GRANTMAKING: GRANTS REPORTED ON SCHEDULE F ARE SEPARATELY TRACKED IN THE ACCOUNTING SYSTEM, CATEGORIZED FOR FINANCIAL STATEMENT PURPOSES BY ACTIVITY AND EXPENDITURE TYPE. IT IS CURRENTLY NOT POSSIBLE TO EXHAUSTIVELY REPORT ALL GRANTS WHERE THE INTENDED PURPOSE IS FOR USE OUTSIDE THE U.S. BECAUSE THE PURPOSE OF THE INDIVIDUAL AWARDS IS NOT TRACKED IN THE ACCOUNTING SYSTEM. IN THE CASE WHERE ESTIMATES WERE USED, THE NUMBER OF RECIPIENTS REPORTED IN PART III WAS BASED ON ONE RECIPIENT PER UNIQUE PAYEE, PROJECT, AND REGION TRANSACTION. PROGRAM SERVICES: PROGRAM SERVICES INCLUDE ACTIVITIES RELATING TO THE CORE INSTITUTIONAL MISSION OF TEACHING, RESEARCH AND PATIENT CARE. FOR FINANCIAL STATEMENT PURPOSES, EXPENDITURES ARE REPORTED IN ACCORDANCE WITH GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. THE STATEMENT OF ACTIVITIES REPORTS BY COST OBJECT (SALARIES & BENEFITS, DEPRECIATION AND OTHER OPERATING EXPENSES), WITH ADDITIONAL DISCLOSURE AS TO FUNCTIONAL BASIS OF EXPENDITURES. STUDY ABROAD: STUDY ABROAD INCLUDES OPERATING AND RENOVATION EXPENSES DIRECTLY INCURRED IN REGION. CONSISTENT WITH FINANCIAL STATEMENT TREATMENT, WHERE SALARIES ARE INCURRED, A COST ALLOCATION FOR FRINGE BENEFITS IS ALSO REPORTED. EDUCATION-EXECUTIVE AND PROFESSIONAL DEVELOPMENT: STANFORD'S GRADUATE SCHOOLS OFFER EXECUTIVE EDUCATION PROGRAMS TO FACILITATE LIFE-LONG PROFESSIONAL LEARNING, AND DISSEMINATION OF CURRENT RESEARCH FINDINGS. EDUCATION-TRAVEL STUDY PROGRAM: EDUCATION-TRAVEL STUDY PROGRAM INCLUDES EXPENSES DIRECTLY INCURRED IN REGIONS FOR ALUMNI ASSOCIATION-SPONSORED TRAVEL STUDY TRIPS AND GRADUATE SCHOOL OF BUSINESS GLOBAL STUDY TRIPS. RESEARCH: RESEARCH INCLUDES DIRECT COSTS INCURRED FOR FACULTY RESEARCH PROJECTS IN A SPECIFIC REGION, INCLUDING PAYMENTS FOR PROFESSIONAL SERVICES ENGAGED TO FURTHER THE RESEARCH PURPOSE. RESEARCH SUB-AWARDS: RESEARCH SUB-AWARDS REPRESENT PAYMENT TO FOREIGN SUB-RECIPIENTS FOR CONTRACT-FUNDED SUB-AWARDS THAT RETAIN THEIR PRIME-SPONSOR TERMS AND CONDITIONS AS CONTRACTS. INTERDISCIPLINARY CENTER: INTERDISCIPLINARY CENTER REPRESENTS EXPENSES INCURRED FOR THE OPERATION, SUPPORT, MAINTENANCE, AND MANAGEMENT OF A FACILITY IN THE EAST ASIA/PACIFIC REGION TO HOUSE STANFORD FACULTY, STAFF AND STUDENTS ENGAGED IN ACADEMIC ACTIVITIES IN THAT REGION. FOREIGN TRAVEL: FOREIGN TRAVEL IS CATEGORIZED SEPARATELY IN THE ACCOUNTING SYSTEM TO MEET COST PRINCIPLES OF OMB REQUIREMENTS. FUNDRAISING: FUNDRAISING INCLUDES EXPENSES DIRECTLY INCURRED IN THE REGION FOR FUNDRAISING ACTIVITIES. INVESTMENTS: IN THE INTERESTS OF PRUDENT STEWARDSHIP OF ITS ENDOWMENT FUNDS, THE UNIVERSITY SEEKS TO MAINTAIN A DIVERSIFIED INVESTMENT PORTFOLIO OF ACTIVELY MANAGED FINANCIAL AND REAL ESTATE ASSETS LOCATED THROUGHOUT THE WORLD. DIVERSIFICATION AIMS TO ENSURE THAT THE ENDOWMENT GENERATES RETURNS THAT BOTH MEETS CURRENT OPERATING INCOME NEEDS AND PROVIDES FOR SUPPORT OF FUTURE STUDENTS AND PROGRAMS. THE PORTFOLIO IS CONSTRUCTED ON A FOUNDATION OF MODERN PORTFOLIO THEORY AND STRATEGIC ALLOCATION, SEEKING TO OPTIMIZE LONG-TERM RETURNS, CREATE CONSISTENT ANNUAL PAYOUTS TO THE UNIVERSITY'S OPERATING BUDGET AND PRESERVE PURCHASING POWER FOR FUTURE GENERATIONS OF STANFORD FACULTY AND STUDENTS. THE STANFORD MANAGEMENT COMPANY, A DIVISION OF THE UNIVERSITY, ACTIVELY MANAGES THE ENDOWMENT, ACCESSING MANY OF THE BEST THIRD-PARTY MANAGERS WORLDWIDE TO DEPLOY ITS CAPITAL. THE GEOGRAPHIC ALLOCATION OF THE UNIVERSITY'S INVESTMENTS, AS SHOWN IN SCHEDULE F, IS A RESULT OF THESE FACTORS. THE UNIVERSITY REPORTS IN PART I ITS REGIONAL NET BOOK VALUE INVESTMENT AMOUNTS, CONSISTENT WITH THE IRS 2014 INSTRUCTIONS FOR SCHEDULE F. ALSO REPORTED IN PART I ARE THE FOREIGN TRAVEL EXPENSES DIRECTLY RELATED TO THE REQUISITE DUE DILIGENCE AND MANAGEMENT OF THE ENDOWMENT PORTFOLIO, AS WELL AS DIRECT COMPENSATION TO THIRD-PARTY MANAGERS. METHOD USED TO ACCOUNT FOR CASH GRANTS AND NON CASH ASSISTANCE ON PART II SUB AWARDS ARE SEPARATELY TRACKED IN THE ACCOUNTING SYSTEM WITH THE IDENTIFICATION OF THE FUNDING SOURCE OF THE SUB AWARD (I.E. GRANT VS. CONTRACT) SEPARATELY TRACKED IN THE UNIVERSITY'S SPONSORED RESEARCH SYSTEM. INCLUDED IN PART II ARE DIRECT GRANTS AND OTHER ASSISTANCE TO ORGANIZATIONS OUTSIDE THE UNITED STATES. THE UNIVERSITY DOES NOT TRACK WHETHER GRANTS TO ORGANIZATIONS WITHIN THE UNITED STATES ARE MADE FOR THE PURPOSE OF PROVIDING GRANTS TO FOREIGN ORGANIZATIONS. SUB-AWARDS ARE SUBJECT TO THE MONITORING PROCEDURES DISCUSSED IN PART V WITH RESPECT TO PART I, LINE 2 REGARDLESS OF WHETHER THE RECIPIENT WILL FURTHER SUB-AWARD FUNDS IN ORDER TO ACCOMPLISH THE PURPOSES OF THE AWARD.
METHOD USED TO ACCOUNT FOR CASH GRANTS AND NON CASH ASSISTANCE ON PART III	PAYMENTS TO INDIVIDUALS OUTSIDE OF THE UNITED STATES ARE TRACKED IN THE PAYABLES SUB-LEDGER OF THE ACCOUNTING SYSTEM. GRANT DISBURSEMENTS TO STUDENTS AND FACULTY ARE TRACKED AT A SUMMARY LEVEL IN THE ACCOUNTING SYSTEM. THE AWARDING OF INDIVIDUAL GRANT FUNDS IS A DECENTRALIZED ACADEMIC PROGRAM LEVEL RESPONSIBILITY. HOWEVER, THE GEOGRAPHIC LOCATION OF THE INTENDED USE OF THE FUNDS IS NOT CURRENTLY SYSTEMATICALLY TRACKED, AND THEREFORE CANNOT READILY BE IDENTIFIED OUTSIDE OF LARGE UNDERGRADUATE PROGRAMS WHICH MAKE SUCH AWARDS. CONSEQUENTLY, THE NUMBER OF RECIPIENTS REPORTED IN PART III REFLECT ACTUAL RECIPIENTS OF THOSE PROGRAMS, OR OTHER IDENTIFIED STUDENT RECIPIENTS.

Schedule F (Form 990) 2014

Additional Data

Software ID:
Software Version:

- TIN:

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 arrow

Attach to Form 990 or Form 990-EZ.
right arrow

Information about Schedule G (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization
THE BOARD OF TRUSTEES OF THE LELAND STANFORD
JUNIOR UNIVERSITY

Employer identification number

94-1156365

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.

Indicate whether the organization raised funds through any of the following activities. Check all that apply.

a	Mail solicitations	e	Solicitation of non-government grants
b	Internet and email solicitations	f	Solicitation of government grants
c	Phone solicitations	g	Special fundraising events
d	In-person solicitations

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?

Yes

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
	RUFFALO NOEL LEVITZ PO BOX 3018 CEDAR RAPIDS, IA524063018	STDNT PHONE APPEAL		No	1,059,876	576,950	482,926
	THE STELTER COMPANY 10435 NEW YORK AVENUE DES MOINES, IA50322	BROCHURES		No		37,016
	MRS JAYNE SHERRY MORDELL 40 PALMER LN PORTOLA VALLEY, CA940287918	EVENT MANAGEMENT		No	1,113,553	35,750	1,077,803
	GRIZZARD 229 PEACHTREE ST NE SUITE 1400 ATLANTA, GA30303	SOLICITATN& DEVELOPMENT		No	41,892	11,711	30,181
	PIVOT MARKETING AGENCY 575 SUTTER ST 202 SAN FRANCISCO, CA94102	MAIL CAMPAIGN		No	100,000	16,270	83,730
	THE PURSUANT GROUP 5151 BELT LINE ROAD SUITE 900 DALLAS, TX75254	FUNDRAISING CONSULTANCY		No		54,300




Total .................					2,315,321	731,997	1,674,640

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.

For Paperwork Reduction Act Notice, see the Instructions for Form 990or 990-EZ.

Cat. No. 50083H

Schedule G (Form 990 or 990-EZ) 2014

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 under one lunch (event type)	(b) Event #2 rodin moonlight (event type)	(c) Other events 2 (total number)	(d) Total events (add col. (a) through col. (c))
1	Gross receipts . . .	1,135,866	655,100	151,587	1,942,553
2	Less: Contributions . .	1,113,553	628,850	130,886	1,873,289
3	Gross income (line 1 minus line 2) . . .	22,313	26,250	20,701	69,264
4	Cash prizes . . .			10,378	10,378
5	Noncash prizes . .
6	Rent/facility costs . .	25,817		6,456	32,273
7	Food and beverages .	58,109	71,892	48,646	178,647
8	Entertainment . . .
9	Other direct expenses .	82,527	30,778	30,196	143,501
10	Direct expense summary. Add lines 4 through 9 in column (d) ...........				364,799
11	Net income summary. Subtract line 10 from line 3, column (d)...........				-295,535

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.

(a) Bingo

(b) Pull tabs/Instant
bingo/progressive bingo

(c) Other gaming

(d) Total gaming (add col.(a) through col.(c))

Gross revenue . . . .

Cash prizes . . . .

Non-cash prizes . . .

Rent/facility costs . . .

Other direct expenses . .

Volunteer labor . . .

	Yes %
	No

	Yes %
	No

	Yes %
	No

Direct expense summary. Add lines 2 through 5 in column (d) ........... right arrow

Net gaming income summary. Subtract line 7 from line 1, column (d) ......... right arrow

Enter the state(s) in which the organization conducts gaming activities:

Is the organization licensed to conduct gaming activities in each of these states? ............

YesNo

If "No," explain:

10a

Were any of the organization's gaming licenses revoked, suspended or terminated during the tax year? .....

YesNo

If "Yes," explain:

Schedule G (Form 990 or 990-EZ) 2014

Page 3

Does the organization conduct gaming activities with nonmembers? .................

YesNo

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? ..........................

YesNo

Indicate the percentage of gaming activities conducted in:

The organization's facility ......................

13a

An outside facility ........................

13b

Enter the name and address of the person who prepares the organization's gaming/special events books and records:

Name

Address

15a

Does the organization have a contract with a third party from whom the organization receives gaming

revenue? ......................................

YesNo

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

If "Yes," enter name and address of the third party:

Name

Address

Gaming manager information:

Name

Gaming manager compensation right arrow

Description of services provided right arrow

Director/officer Employee Independent contractor

Mandatory distributions:

Is the organization required under state law to make charitable distributions from the gaming proceeds to

retain the state gaming license? ............................

YesNo

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 provide any additional information (see instructions).

Return Reference	Explanation
SCHEDULE G, PART I	LINE 2B, GRIZZARD: IN ADDITION TO FEES REPORTED IN COLUMN (V), THE CONSULTANT WAS REIMBURSED $92,413 FOR PRINTING AND PRODUCTION SERVICES AS PER TERMS OF THE CONTRACT.

Schedule G (Form 990 or 990-EZ) 2014

Additional Data

Software ID:
Software Version:

- TIN:

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

2014

Open to Public
Inspection

Name of the organization
THE BOARD OF TRUSTEES OF THE LELAND STANFORD
JUNIOR UNIVERSITY

Employer identification number
94-1156365

Part I

General Information on Grants and Assistance

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? ....................................

Yes No

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 Domestic Organizations and Domestic Governments. 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 section if applicable	(d) Amount of cash grant	(h) Purpose of grant or assistance
(1) A BETTER CHANCE 253 W 35TH STREET NEW YORK,NY10001	23-7173492	501(C)(3)	25,000	GENERAL SUPPORT
(2) AFRICAN LEADERSHIP FOUNDATION PO BOX 7408 NEW YORK,NY10150	83-0425133	501(C)(3)	100,000	GENERAL SUPPORT
(3) ALLIANCE FOR SCHOOL CHOICE 1616 L STREET NW WASHINGTON,DC20036	52-2111508	501(C)(3)	50,000	GENERAL SUPPORT
(4) AMERICAN ASIAN CULTURAL EXCHANGE 1328 MISSION STREET SAN FRANCISCO,CA94103	52-1284724	501(C)(3)	10,000	SUPPORT FILM PROJECT
(5) AMERICAN RED CROSS 2731 N FIRST STREET SAN JOSE,CA94103	53-0196605	501(C)(3)	7,000	GENERAL SUPPORT
(6) AMERICAN UNITED FOR SEPARATION OF CHURCH&ST 1301 K STREET NW WASHINGTON,DC20005	53-0184647	501(C)(3)	10,000	GENERAL SUPPORT
(7) ANGEL FLIGHT WEST 3161 DD LOOP S SANTA MONICA,CA90405	95-3956297	501(C)(3)	10,000	SUPPORT AWARDS
(8) ANIMAL PROTECTION OF NEW MEXICO INC PO BOX 11395 ALBUQUERQUE,NM87192	85-0283292	501(C)(3)	10,000	GENERAL SUPPORT
(9) ASPCA 520 8TH AVE NEW YORK,NY10018	13-1623829	501(C)(3)	10,000	GENERAL SUPPORT
(10) CAL POLY COLG OF ENG SAN LUIS OBISPO,CA93407	20-4927897	STATE OF CA	10,000	SCHOLARSHIP
(11) CANARY FOUNDATION 3155 PORTER DRIVE PALO ALTO,CA94304	65-1230251	501(C)(3)	5,500	GENERAL SUPPORT
(12) CHILDREN'S HOSPITAL & RESEARCH CENTER FOUNDATION 2201 BROADWAY STE 600 OAKLAND,CA94612	94-1657474	501(C)(3)	20,000	GENERAL SUPPORT
(13) CORNELL UNIVERSITY 130 E SENECA ST ITHACA,NY14850	15-0532082	501(C)(3)	300,000	GENERAL SUPPORT
(14) EARTH UNIVERSITY FOUNDATION 3525 PIEDMONT ROAD NE ATLANTA,GA30305	38-2920639	501(C)(3)	20,000	SCHOLARSHIPS
(15) EASTMAN SCHOOL OF MUSIC 26 GIBBS ST ROCHESTER,NY14604	16-0743209	501(C)(3)	10,000	SCHOLARSHIP
(16) FRIENDS OF FLORENCE 4545 W STREET N W WASHINGTON,DC20007	91-1878427	501(C)(3)	8,700	SUPPORT RESTORATION
(17) GREATER TWIN CITIES UNITED WAY PO BOX 2949 MINNEAPOLIS,MN55402	41-1973442	501(C)(3)	60,000	GENERAL SUPPORT
(18) HOWARD UNIVERSITY 2400 SIXTH STREET NW WASHINGTON,DC20059	53-0204707	501(C)(3)	330,000	GENERAL SUPPORT
(19) HUMANE SOCIETY OF THE UNITED STATES 700 PROF DR GAITHERSBURG,MD20879	53-0225390	501(C)(3)	10,000	GENERAL SUPPORT
(20) JOHNS HOPKINS CHILDREN'S CENTER 750 E PRATT STREET BALTIMORE,MD21202	52-0595110	501(C)(3)	20,000	PEDIATRIC CARDIOLOGY
(21) LUCILE PACKARD CHILDREN'S HOSPITAL 725 WELCH ROAD PALO ALTO,CA94304	77-0003859	501(C)(3)	11,005,000	HOSPITAL EXPANSION
(22) LUMMI ISLAND HERITAGE TRUST PO BOX 158 LUMMI ISLAND,WA98262	91-1785342	501(C)(3)	25,000	GENERAL SUPPORT
(23) MAKING WAVES FOUNDATION 3045 RESEARCH DRIVE RICHMOND,CA94806	68-0204312	501(C)(3)	500,000	ALUMNI PROGRAM
(24) MASSACHUSETTS INSTITUTE OF TECHNOLOGY 600 MEMORIAL DRIVE CAMBRIDGE,MA02139	04-2103594	501(C)(3)	2,000,000	EDGERTON CENTER
(25) MAYO CLINIC 200 FIRST STREET SW ROCHESTER,MN55905	41-6011702	501(C)(3)	50,000	GENERAL SUPPORT
(26) NEW VENTURE FUND 1201 CT AVE NW WASHINGTON,DC20036	20-5806345	501(C)(3)	1,000,000	SUPPORT MALALA FD
(27) OAKLAND CHILDREN'S FAIRYLAND 699 BELLEVUE AVENUE OAKLAND,CA94610	94-3209054	501(C)(3)	25,000	GENERAL SUPPORT
(28) PHILANTHROPIC VENTURES FOUNDATION 1222 PRES PK WAY OAKLAND,CA94612	93-3136771	501(C)(3)	157,000	FELLOWSHIPS
(29) ROCKEFELLER PHILANTHROPY ADVISORS 6 WEST 48TH STREET NEW YORK,NY10036	13-3615533	501(C)(3)	1,000,000	GIRL EFFECT PROJECT
(30) SAN FRANCISCO MUSEUM OF MODERN ART (SFMOMA) 151 THIRD STREET SAN FRANCISCO,CA94103	94-1156300	501(C)(3)	1,500,000	TRAVELLING EXHIBITION
(31) SANTA BARBARA CENTER FOR THE PEFORMING ARTS 1330 STATE STREET SANTA BARBARA,CA93101	95-3847102	501(C)(3)	20,000	GENERAL SUPPORT
(32) SANTA BARBARA FOUNDATION 1111 CHAPALA ST SANTA BARBARA,CA93015	95-1866094	501(C)(3)	200,000	GENERAL SUPPORT
(33) SANTA FE JAZZ 310 STAAB ST SANTA FE,NM87501	47-1314790	501(C)(3)	10,000	SUPPORT ANNUAL FUND
(34) SECOND HARVEST FOOD BANK 1051 BING STREET SAN CARLOS,CA94070	94-2614101	501(C)(3)	45,000	GENERAL SUPPORT
(35) SOUTHERN POVERTY LAW CENTER 400 WASHINGTON AVE MONTGOMERY,AL36104	63-0598743	501(C)(3)	10,000	GENERAL SUPPORT
(36) STANFORD HEALTH CARE 300 PASTEUR DRIVE STANFORD,CA94305	94-6174066	501(C)(3)	1,030,000	GENERAL SUPPORT
(37) TAOS SPORTS ASSOCIATES INC P O BOX 3011 TAOS,NM87571	85-0241076	501(C)(3)	80,000	PROGRAM DEVELOP.
(38) THE CCF FOUNDATION PO BOX 40488 SAN FRANCISCO,CA94140	94-1682567	501(C)(3)	120,000	GENERAL SUPPORT
(39) THE FIELD INSTITUTE OF TAOS P O BOX 486 ARROYO SECO,NM87514	85-0442587	501(C)(3)	80,000	PROGRAM DEVELOP.
(40) THE FOUNDATION FOR SANTA BARBARA CITY COLLEGE 721 CLIFF DRIVE SANTA BARBARA,CA93109	95-3234551	501(C)(3)	20,000	GENERAL SUPPORT
(41) THE HEAD ROYCE SCHOOL 4315 LINCOLN AVE OAKLAND,CA94602	94-1518656	501(C)(3)	10,000	SUPPORT ANNUAL FUND
(42) THE KEYS SCHOOL 2890 MIDDLEFIELD ROAD PALO ALTO,CA94306	94-2240127	501(C)(3)	25,000	SUPPORT ANNUAL FUND
(43) THE MICHAEL J FOX FOUNDATION 498 7TH AVE NEW YORK,NY10018	13-4141945	501(C)(3)	10,000	GENERAL SUPPORT
(44) TIPPING POINT COMMUNITY 220 MONTGOMERY ST SF,CA94104	20-2121739	501(C)(3)	750,000	GENERAL SUPPORT
(45) US OLYMPIC AND PARALYMPIC FOUNDATION 1 OLYMPIC PLAZA COLORADO SPRING,CO80909	80-0939841	501(C)(3)	25,000	GENERAL SUPPORT
(46) UCSF LOCKBOX 45339 SAN FRANCISCO,CA94145	94-6036493	501(C)(3)	10,000	GENERAL SUPPORT
(47) UCSF FOUNDATION 220 MONTGOMERY ST SF,CA94104	94-2829914	501(C)(3)	140,000	GENERAL SUPPORT
(48) UNION COLLEGE 807 UNION STREET SCHENECTADY,NY12308	14-1338580	501(C)(3)	30,000	GENERAL SUPPORT
(49) UNIVERSITY OF CALIFORNIA UC SANTA BARBARA,CA93106	95-6006145	STATE OF CA	200,000	ARTS AND LECTURE
(50) WOMEN FOR AFGHAN WOMEN 158-24 73RD AVE FRESH MEADOWS,NY11366	02-0539734	501(C)(3)	25,000	GENERAL SUPPORT
(51) WOMENONE LTD 57 GROVER LANE WEST CALDWELL,NJ07006	26-3679243	501(C)(3)	30,000	GENERAL SUPPORT
(52) YEAR UP 45 MILK STREET BOSTON,MA02109	04-3534407	501(C)(3)	100,000	GENERAL SUPPORT

Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................ Bullet Image

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) 2014

Page 2

Part III

Grants and Other Assistance to Domestic Individuals. 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
(1) FINANCIAL AID TO STUDENTS	13746	401,194,864

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

GRANTS AND ASSISTANCE

PART I, LINE 2 IN PART AS A RESULT OF ENDOWMENT SUPPORT OF STUDENT AID, STANFORD IS ABLE TO WAIVE THE TOTAL COST OF TUITION FOR MANY OF ITS DESERVING STUDENTS. STANFORD EXPECTS NO PARENTAL CONTRIBUTION TOWARD TUITION FROM PARENTS WITH ANNUAL INCOMES BELOW $125,000 AND TYPICAL ASSETS. THERE IS ZERO PARENTAL CONTRIBUTION TOWARD TUITION, ROOM OR BOARD FOR PARENTS WITH ANNUAL INCOMES BELOW $65,000 AND TYPICAL ASSETS. THE UNIVERSITY IS ALSO MINDFUL OF STUDENT DEBT, AND IT DOES NOT EXPECT STUDENTS TO BORROW TO MEET THEIR NEED. AS A RESULT, STANFORD STUDENTS GENERALLY INCUR LESS DEBT THAN THEIR PEERS AT OTHER UNIVERSITIES. FOR STUDENTS WHO CHOOSE TO BORROW, THE MEDIAN INDEBTEDNESS WAS $16,417 IN FY 15. THAT SAME YEAR, 78 PERCENT OF STANFORD UNDERGRADUATES RECEIVING DEGREES GRADUATED WITH NO DEBT - UP FROM 55 PERCENT IN FY 05 - EVIDENCE OF STANFORD'S GENEROUS AID PROGRAM. THIS FINANCIAL AID PROGRAM IS A DEMONSTRATION OF STANFORD'S COMMITMENT TO ACCESS FOR OUTSTANDING STUDENTS FROM ALL BACKGROUNDS - INCLUDING NOT ONLY THOSE FROM THE LOWEST SOCIOECONOMIC STATUS, BUT ALSO MIDDLE- AND UPPER-MIDDLE-CLASS FAMILIES WHO NEED OUR ASSISTANCE AS WELL. GRANTS AND ALLOCATIONS REFLECT NON-COMPENSATORY SUPPORT PROVIDED TO STUDENTS IN VARIOUS FORMS. STANFORD IS COMMITTED TO A NEED-BLIND ADMISSIONS POLICY, ADMITTING QUALIFIED UNDERGRADUATES WITHOUT REGARD TO THEIR ABILITY TO PAY AND PROVIDING A COMPREHENSIVE FINANCIAL AID PROGRAM FOR ALL ADMITTED UNDERGRADUATES WHO HAVE NEED AS DETERMINED BY THE UNIVERSITY AND WHO MEET OTHER REQUISITE CONDITIONS FOR FINANCIAL AID. MORE THAN 85% OF UNDERGRADUATES RECEIVED SOME FORM OF FINANCIAL ASSISTANCE DURING THE TAX YEAR AS WELL AS OVER 85% OF ALL GRADUATE STUDENTS FROM STANFORD AND OTHER SOURCES. THE TOTAL FINANCIAL AID INCLUDES $260,615,588 IN MERIT AND NEED-BASED SCHOLARSHIPS AND FELLOWSHIPS. AN ADDITIONAL $143,102,635 REFLECTS AMOUNTS PAID FOR ADDITIONAL FINANCIAL SUPPORT TO STUDENTS, INCLUDING PAYMENTS FOR HEALTH INSURANCE, LIVING EXPENSES, AND SUPPORT OF POSTDOCTORAL FELLOWS. THESE AMOUNTS INCLUDE $2,523,359 IN GRANTS TO INDIVIDUALS OUTSIDE THE UNITED STATES. GRANTS LISTED IN PART II ARE PRIMARILY GRANTS MADE FROM DONOR ADVISED FUNDS MANAGED BY STANFORD AND ARE BASED ON RECOMMENDATIONS BY DONORS OF THOSE FUNDS AND REVIEWED AND APPROVED BY SENIOR OFFICIALS IN THE OFFICE OF DEVELOPMENT. SUB-GRANTS STANFORD OCCASIONALLY RECEIVES GRANT SUPPORT THAT IS DISBURSED TO OTHER INDIVIDUALS OR ENTITIES PER THE TERMS OF THE AWARD. IN MOST CASES, PRIOR TO THE GRANT TO STANFORD, THE UNIVERSITY WILL PROVIDE THE GRANTING ENTITY WITH A LIST OF SUCH CONTEMPLATED RECIPIENTS. GENERALLY, AS WORK ON THE GRANT PROGRESSES, CHANGES TO THESE RECIPIENTS MUST BE APPROVED BY THE GRANTING AGENCY. DUE TO THESE REVIEW REQUIREMENTS OF THE GRANTING AGENCY, STANFORD DOES NOT REPORT SUCH PAYMENTS ON FORM 990, SCHEDULE I.

Schedule I (Form 990) 2014

Additional Data

Software ID:
Software Version:

- TIN:

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

Information about Schedule J (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization

THE BOARD OF TRUSTEES OF THE LELAND STANFORD
JUNIOR UNIVERSITY

Employer identification number

94-1156365

Part I

Questions Regarding Compensation

Yes

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.

First-class or charter travel Housing allowance or residence for personal use

Travel for companions Payments for business use of personal residence

Tax idemnification and gross-up payments Health or social club dues or initiation fees

Discretionary spending account Personal services (e.g., maid, chauffeur, chef)

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....

Yes

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? ..

Yes

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.

Compensation committee Written employment contract

Independent compensation consultant Compensation survey or study

Form 990 of other organizations Approval by the board or compensation committee

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:

Receive a severance payment or change-of-control payment? ................

Yes

Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........

Yes

Participate in, or receive payment from, an equity-based compensation arrangement? .........

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), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.

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:

The organization? ...........................

Any related organization? .........................

If "Yes," to line 5a or 5b, describe in Part III.

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:

The organization? ...........................

Any related organization? .........................

If "Yes," to line 6a or 6b, describe in Part III.

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 ............

Yes

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 .............................

If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50053T

Schedule J (Form 990) 2014

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 in column(B) reported as deferred in prior Form 990
(A) Name and Title		(i) Base compensation	(ii) Bonus & incentive compensation	(iii) Other reportable compensation	(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)
1JOHN HENNESSYPRESIDENT/TRUSTEE	(i) (ii)	884,765 ............................... 0	............................... 0	............................... 0	214,985 ............................... 0	166,573 ............................... 0	1,266,323 ............................... 0	0 ............................... 0
2JOHN ETCHEMENDYPROVOST	(i) (ii)	648,375 ............................... 0	............................... 0	480 ............................... 0	326,738 ............................... 0	72,878 ............................... 0	1,048,471 ............................... 0	0 ............................... 0
3RANDALL LIVINGSTONVP BUS AFFAIRS/CFO	(i) (ii)	566,732 ............................... 0	............................... 0	480 ............................... 0	96,000 ............................... 0	90,086 ............................... 0	753,298 ............................... 0	0 ............................... 0
4MARTIN SHELLVP DEVELOPMENT	(i) (ii)	578,919 ............................... 0	38,000 ............................... 0	53,041 ............................... 0	127,889 ............................... 0	52,584 ............................... 0	850,433 ............................... 0	0 ............................... 0
5DEBRA ZUMWALTVP GENERAL COUNSEL	(i) (ii)	601,384 ............................... 0	............................... 0	............................... 0	61,000 ............................... 0	10,038 ............................... 0	672,422 ............................... 0	0 ............................... 0
6ROBERT C REIDYVP LAND, BUILDINGS & REAL EST	(i) (ii)	406,789 ............................... 0	300,000 ............................... 0	............................... 0	87,111 ............................... 0	77,218 ............................... 0	871,118 ............................... 0	0 ............................... 0
7DAVID DEMARESTVP PUBLIC AFFAIRS	(i) (ii)	340,452 ............................... 0	35,500 ............................... 0	354,405 ............................... 0	26,000 ............................... 0	25,676 ............................... 0	782,033 ............................... 0	276,100 ............................... 0
8HOWARD WOLFPRES. OF STANFORD ALUM. ASSOC.	(i) (ii)	347,288 ............................... 0	53,100 ...............................	480 ............................... 0	26,000 ............................... 0	30,761 ...............................	457,629 ............................... 0	0 ............................... 0
9WILLIAM MADIAVP SLAC NAL	(i) (ii)	377,575 ............................... 0	75,000 ............................... 0	36,280 ............................... 0	26,000 ............................... 0	3,022 ............................... 0	517,877 ............................... 0	0 ............................... 0
10DAVID JONESVP HR, THROUGH 7/10/15	(i) (ii)	324,715 ............................... 0	25,000 ............................... 0	............................... 0	26,000 ............................... 0	24,922 ............................... 0	400,637 ............................... 0	0 ............................... 0
11JOHN POWERSPRESIDENT, SMC, THROUGH 5/1/15	(i) (ii)	845,766 ............................... 0	676,962 ............................... 0	868,946 ............................... 0	163,900 ............................... 0	36,282 ............................... 0	2,591,856 ............................... 0	744,930 ............................... 0
12LLOYD B MINORDEAN, SCHOOL OF MEDICINE	(i) (ii)	1,340,166 ............................... 0	200,000 ............................... 0	59,653 ............................... 0	315,600 ............................... 0	57,385 ............................... 0	1,972,804 ............................... 0	0 ............................... 0
13RICHARD SALLERDEAN, SCHOOL OF HUM & SCIENCES	(i) (ii)	529,107 ............................... 0	7,500 ............................... 0	38,362 ............................... 0	25,031 ............................... 0	12,398 ............................... 0	612,398 ............................... 0	0 ............................... 0
14GARY STEINBERGCHAIR, NEUROSURGERY	(i) (ii)	642,360 ............................... 0	664,274 ............................... 0	............................... 0	26,000 ............................... 0	25,544 ............................... 0	1,358,178 ............................... 0	0 ............................... 0
15YIPING WOOPROF. & CHAIR, CARDIO SURGERY	(i) (ii)	1,057,261 ............................... 0	528,104 ............................... 0	111,722 ...............................	0 ............................... 0	37,964 ............................... 0	1,735,051 ............................... 0	0 ............................... 0
16DAVID SHAWDIRECTOR OF FOOTBALL	(i) (ii)	2,652,445 ............................... 0	590,000 ............................... 0	87,259 ............................... 0	702,638 ............................... 0	34,877 ............................... 0	4,067,219 ............................... 0	0 ............................... 0
17FRANK HANLEYCHIEF, PED CARDIOTHORACIC	(i) (ii)	564,970 ............................... 0	1,325,000 ............................... 0	............................... 0	26,000 ............................... 0	25,242 ............................... 0	1,941,212 ............................... 0	0 ............................... 0
18MARK HAYESMNG DIR., SMC, THROUGH 11/7/14	(i) (ii)	315,863 ............................... 0	532,858 ............................... 0	480,867 ............................... 0	26,000 ............................... 0	26,787 ............................... 0	1,382,375 ............................... 0	0 ............................... 0
19PHILIP A PIZZOPROF & FORMER DEAN, SCH OF MED	(i) (ii)	404,926 ............................... 0	2,917 ............................... 0	271,365 ............................... 0	26,000 ............................... 0	7,123 ............................... 0	712,331 ............................... 0	0 ............................... 0

Schedule J (Form 990) 2014

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
PART I, LINE 1A	FIRST-CLASS OR CHARTER TRAVEL STANFORD UNIVERSITY TRAVEL POLICY GENERALLY REQUIRES ALL EMPLOYEES, INCLUDING PERSONS LISTED ON FORM 990, PART VII, LINE 1A, TO USE THE MOST ECONOMICAL MODE OF TRANSPORTATION AVAILABLE CONSISTENT WITH THE AUTHORIZED BUSINESS PURPOSE OF THE TRAVEL. FIRST CLASS TRAVEL IS AUTHORIZED IN SOME INSTANCES, SUCH AS ON INTERNATIONAL FLIGHTS OVER A CERTAIN LENGTH, IF NO BUSINESS CLASS SERVICE IS AVAILABLE ON THE FLIGHT. FIRST CLASS TRAVEL IS ALSO AUTHORIZED IN CASE OF A MEDICAL NEED OR OTHER EXIGENCY APPROVED BY THE PROVOST. IN ADDITION, THE PRESIDENT HAS PERMISSION TO FLY FIRST CLASS ON CERTAIN DOMESTIC FLIGHTS DEPENDING ON LENGTH. OCCASIONALLY, THE UNIVERSITY MAY PURCHASE CHARTERED AIRCRAFT SERVICES WHEN DEEMED APPROPRIATE FOR THE CONDUCT OF UNIVERSITY BUSINESS AND PURSUANT TO UNIVERSITY POLICY RELATED TO CHARTER TRAVEL. IN COMPLIANCE WITH THE UNIVERSITY'S TRAVEL POLICY DESCRIBED ABOVE, FIVE PERSONS LISTED ON PART VII USED FIRST CLASS TRAVEL SERVICES AND ONE PERSON USED CHARTER TRAVEL DURING CALENDAR YEAR 2014. SUCH TRAVEL WAS FOR BUSINESS PURPOSES AND NOT INCLUDED IN TAXABLE INCOME TO THE INDIVIDUALS. PRESIDENT AND PROVOST HOUSING AS A CONDITION OF HIS EMPLOYMENT AS PRESIDENT OF THE UNIVERSITY, PRESIDENT HENNESSY, IS REQUIRED TO LIVE IN THE PRESIDENT'S HOME ON THE CAMPUS OF THE UNIVERSITY. THE RESIDENCE IS USED FREQUENTLY FOR UNIVERSITY BUSINESS INCLUDING OFFICIAL GATHERINGS OF FACULTY, STAFF, STUDENTS, ALUMNI, DONORS AND THEIR FAMILIES. AS PART OF A PROGRAM OF APPROPRIATE AND REGULAR MAINTENANCE OF THIS HOUSE, THE UNIVERSITY PROVIDED CLEANING SERVICE FOR THE PUBLIC AND PRIVATE AREAS. THE UNIVERSITY HAS INCLUDED AS NONTAXABLE COMPENSATION IN COLUMN D THE ESTIMATED RENTAL VALUE OF THE AREAS OF THIS RESIDENCE RESERVED FOR THE PERSONAL USE OF THE EMPLOYEE, BASED UPON THE PREVAILING RENTAL RATES IN PALO ALTO AND ACTUAL COSTS OF RELATED SERVICES, INCLUDING MAINTENANCE, CLEANING AND UTILITIES. AS A CONDITION OF HIS EMPLOYMENT AS PROVOST OF THE UNIVERSITY, PROVOST ETCHEMENDY IS REQUIRED TO LIVE ON THE CAMPUS OF THE UNIVERSITY. THE RESIDENCE IS USED FREQUENTLY FOR UNIVERSITY BUSINESS INCLUDING OFFICIAL GATHERINGS OF FACULTY, STAFF, STUDENTS, ALUMNI, DONORS AND THEIR FAMILIES. AS PART OF A PROGRAM OF APPROPRIATE AND REGULAR MAINTENANCE OF THIS HOUSE, THE UNIVERSITY PROVIDED CLEANING SERVICE FOR THE PUBLIC AND PRIVATE AREAS. THE UNIVERSITY HAS INCLUDED AS NONTAXABLE COMPENSATION IN COLUMN D THE ESTIMATED RENTAL VALUE OF THE AREAS OF THIS RESIDENCE RESERVED FOR THE PERSONAL USE OF THE EMPLOYEE, BASED UPON THE PREVAILING RENTAL RATES IN PALO ALTO AND ACTUAL COSTS OF RELATED SERVICES, INCLUDING MAINTENANCE, CLEANING AND UTILITIES. THE FOLLOWING INDIVIDUALS RECEIVED TAXABLE HOUSING BENEFITS DURING CALENDAR YEAR 2014: LLOYD B. MINOR, WILLIAM MADIA, MARTIN SHELL, RICHARD SALLER, AND DAVID SHAW. THESE AMOUNTS ARE INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III). PART I, LINE 4A SEVERANCE PLAN CERTAIN LISTED PERSONS ARE SUBJECT TO THE UNIVERSITY APPROVED SEVERANCE PLAN THAT PROVIDES FOR PAYMENT OF SALARY BASED ON THE INDIVIDUAL'S YEARS OF SERVICE, FOR A PERIOD RANGING FROM 3 TO 12 MONTHS. SEVERANCE IS PAID FOR POSITION ELIMINATION OR OTHER INVOLUNTARY TERMINATION, BASED ON PLAN GUIDELINES EXCEPT WHEN THE PRESIDENT OR THE VICE PRESIDENT OF UNIVERSITY HUMAN RESOURCES OR HIS/HER DESIGNEE DETERMINES THE TERMINATION IS FOR MISCONDUCT. THE FOLLOWING INDIVIDUAL LISTED ON SCHEDULE J RECEIVED SEVERANCE PAYMENT DURING CALENDAR YEAR 2014: MARK HAYES - $194,000. PART I, LINE 4B DEFERRED COMPENSATION PLAN PROVISIONS CERTAIN OFFICERS AND OTHERS LISTED IN SCHEDULE J, PART II PARTICIPATE IN A DEFERRED COMPENSATION PLAN. AMOUNTS ARE CREDITED TO THE PLAN BASED ON PERFORMANCE AND CERTAIN OTHER FACTORS. PLAN BALANCES ARE SUBJECT TO FORFEITURE AND/OR PAYMENT ONLY IF CERTAIN CONDITIONS ARE MET. CERTAIN BONUS AMOUNTS MAY BE DEFERRED AND PAID IN A LATER YEAR SUBJECT TO IRC SECTION 457(F). IN GENERAL, PER THE INSTRUCTIONS FOR SCHEDULE J, PART II, COLUMN (C), DEFERRED COMPENSATION IS TREATED AS EARNED RATABLY OVER THE PERIOD OF SERVICE REQUIRED FOR VESTING. A MONTHLY CONVENTION HAS BEEN USED TO PRORATE AMOUNTS OVER THE APPLICABLE VESTING PERIOD. COLUMN (C) DOES NOT INCLUDE AMOUNTS DEFERRED IN A CALENDAR YEAR TO A DATE ON OR BEFORE MARCH 15TH OF THE FOLLOWING CALENDAR YEAR. THE NET EFFECT OF APPLYING THE FOREGOING RULES AND CONVENTIONS IS THAT DEFERRED COMPENSATION REPORTED IN COLUMN (C) FOR AN INDIVIDUAL MAY APPEAR UNEVEN OVER TIME, WITH APPLICATION OF THE RULES RESULTING IN INCREASES AND DECREASES FROM YEAR TO YEAR DUE TO VARIANCE IN VESTING SCHEDULES. IN CERTAIN INSTANCES INVOLVING OLDER DEFERRED COMPENSATION PLANS, IF AN INDIVIDUAL'S DEFERRED COMPENSATION HAS IN THE PAST BEEN REPORTED WHEN CREDITED TO A DEFERRED COMPENSATION ACCOUNT, RATHER THAN AS EARNED RATABLY OVER THE RELATED VESTING PERIOD, THE INDIVIDUAL'S DEFERRED COMPENSATION CONTINUES TO BE REPORTED WHEN CREDITED, IN THE INTERESTS OF ACCURACY AND CONSISTENCY. DEFERRED COMPENSATION IS REPORTED IN SCHEDULE J, PART II, COLUMN (C) IN THE YEAR OF DEFERRAL, AS DESCRIBED ABOVE, AND IS REPORTED IN SCHEDULE J, PART II, COLUMN (B)(III) AND COLUMN (F) IN THE YEAR OF PAYMENT, IF APPLICABLE. THE FOLLOWING INDIVIDUALS RECEIVED PAYMENT FROM THEIR DEFERRED COMPENSATION ACCOUNT DURING CALENDAR YEAR 2014: JOHN POWERS - $868,871; DAVID DEMAREST - $351,442. SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) THE UNIVERSITY HAS PROVIDED THE PRESIDENT WITH TWO SUPPLEMENTAL EXECUTIVE RETIREMENT PLANS (SERPS) DURING HIS TERM OF SERVICE AS AN OFFICER TO SUPPLEMENT HIS SOCIAL SECURITY AND 403(B) RETIREMENT BENEFITS. ONE SERP WAS EARNED GRADUALLY (PRIOR SERP) AND ANOTHER SERP IS TO BE EARNED GRADUALLY (CURRENT SERP) OVER SPECIFIED PERIODS DURING HIS TERM OF SERVICE AS AN OFFICER. THE CURRENT SERP PROVIDES THAT THE PRESIDENT IS ELIGIBLE TO RECEIVE A BENEFIT APPROXIMATELY EQUAL TO AN ANNUAL PAYMENT FOR LIFE OF 2% OF HIS HIGHEST THREE YEAR AVERAGE BASE PAY FOR EACH FISCAL YEAR FROM FY 2012 THROUGH FY 2018 DURING WHICH HE SERVES AS PRESIDENT. BY REMAINING IN HIS POSITION THROUGH AUGUST 31, 2016 (AS HE HAS ANNOUNCED HIS INTENT), THE PRESIDENT WILL BE ELIGIBLE TO RECEIVE A BENEFIT APPROXIMATELY EQUAL TO AN ANNUAL PAYMENT FOR LIFE OF 8% OF HIS HIGHEST THREE YEAR AVERAGE BASE PAY (2.0 PERCENTAGE POINTS OF WHICH WAS EARNED IN FY 2015). THE SERP BENEFIT IS SUBJECT TO FORFEITURE IF CERTAIN CONDITIONS ARE NOT MET. FOR THE YEAR ENDED AUGUST 31, 2015, THE VALUE OF THE ANNUAL ACCRUAL OF THIS BENEFIT WAS $188,985 AND IS INCLUDED ON SCHEDULE J COLUMN (C) AS DEFERRED COMPENSATION. THE PRIOR SERP WAS EARNED OVER THE 12 YEARS ENDING AUGUST 31, 2012. HAVING SERVED IN HIS POSITION THROUGH AUGUST 31, 2012, THE PRESIDENT IS ELIGIBLE TO RECEIVE A BENEFIT APPROXIMATELY EQUAL TO AN ANNUAL PAYMENT FOR LIFE OF 35.5% OF HIS HIGHEST THREE YEAR AVERAGE BASE PAY DURING THE 12 YEAR PERIOD, OFFSET BY THE ANNUITY EQUIVALENT OF HIS ANTICIPATED SOCIAL SECURITY BENEFIT AND AMOUNTS CONTRIBUTED BY THE UNIVERSITY DIRECTLY TO HIS 403(B) DEFINED CONTRIBUTION RETIREMENT PLAN WHILE HE IS AN OFFICER. THERE WERE NO ACCRUALS TO THIS SERP AFTER AUGUST 31, 2012. THIS SERP BENEFIT REMAINS SUBJECT TO FORFEITURE IF CERTAIN CONDITIONS ARE NOT MET. THE UNIVERSITY ALSO PROVIDES THE PROVOST WITH A SUPPLEMENTAL EXECUTIVE RETIREMENT PLAN (SERP) TO SUPPLEMENT HIS SOCIAL SECURITY AND 403(B) RETIREMENT BENEFITS. THE SERP IS EARNED GRADUALLY THROUGH HIS TERM OF SERVICE AS PROVOST. BY REMAINING IN HIS POSITION THROUGH AUGUST 31, 2015, THE PROVOST BECAME ELIGIBLE TO RECEIVE A BENEFIT APPROXIMATELY EQUAL TO AN ANNUAL PAYMENT FOR LIFE OF 42% OF HIS HIGHEST THREE YEAR AVERAGE BASE PAY (3.0 PERCENTAGE POINTS OF WHICH WAS EARNED IN FY 2015), OFFSET BY THE ANNUITY EQUIVALENT OF HIS ANTICIPATED SOCIAL SECURITY BENEFIT AND AMOUNTS CONTRIBUTED BY THE UNIVERSITY DIRECTLY TO HIS 403(B) DEFINED CONTRIBUTION RETIREMENT PLAN WHILE HE IS AN OFFICER. THE SERP BENEFIT IS SUBJECT TO FORFEITURE IF CERTAIN CONDITIONS ARE NOT MET. FOR THE YEAR ENDED AUGUST 31, 2015, THE VALUE OF THE ANNUAL ACCRUAL OF THIS BENEFIT WAS $300,738 AND IS INCLUDED ON SCHEDULE J COLUMN (C) AS DEFERRED COMPENSATION.
PART I, LINE 7 AND PART II, COLUMN (B) (II)	VARIABLE COMPENSATION OF SCHOOL OF MEDICINE FACULTY TOTAL COMPENSATION FOR FACULTY IN THE SCHOOL OF MEDICINE IS MADE UP OF THE FOLLOWING INTEGRAL COMPONENTS: SALARY AND BENEFITS, ADMINISTRATIVE SUPPLEMENTS, AND BONUSES AWARDED UNDER DEPARTMENTAL PLANS. BASE SALARY IS BASED ON ACADEMIC RANK (E.G., PROFESSOR, ASSISTANT PROFESSOR). A VARIABLE COMPONENT OF SALARY IS DETERMINED BY THE CONTRIBUTION OF THE INDIVIDUAL TO THE DEPARTMENT/DIVISION AND THE CLINICAL SPECIALTY OF THE FACULTY MEMBER. OTHER SALARY SUPPLEMENTS ARE OCCASIONALLY USED TO PROVIDE FOR COMPENSATION GIVEN UP BY A FACULTY MEMBER WHEN ASSUMING A POSITION AT STANFORD. ADMINISTRATIVE SUPPLEMENTS ARE PAID TO FACULTY WHO TAKE ON DUTIES WHICH ARE OUTSIDE THEIR USUAL FACULTY RESPONSIBILITIES AND OUTSIDE NORMAL COMMITTEE WORK. INCENTIVE BONUSES ARE CONSIDERED A FUNDAMENTAL COMPONENT OF TOTAL COMPENSATION. THEY ARE PAID OUT BY THE DEPARTMENTS BASED ON THE DEPARTMENTS' INCENTIVE BONUS PLAN MEASURING THE FACULTY'S EFFORTS IN ADMINISTRATIVE LEADERSHIP, CLINICAL, RESEARCH, AND/OR TEACHING AREAS AS DEFINED BY THE PLAN. IN ADDITION, THE DEAN HAS A BONUS PLAN FOR CLINICAL CHAIRS BASED ON ACHIEVEMENT OF LEADERSHIP GOALS. SOME DEPARTMENTS HAVE "ON-CALL" AND "COVERAGE" BONUSES TO PROVIDE COMPENSATION FOR A FACULTY MEMBER'S PROVIDING OFF-HOURS COVERAGE. VARIABLE COMPENSATION OF INVESTMENT PROFESSIONALS A PORTION OF THE COMPENSATION PAID TO EACH LISTED INVESTMENT PROFESSIONAL IS BASED ON A COMBINATION OF THREE FACTORS: THREE YEAR ANNUALIZED PERFORMANCE VERSUS THE RELEVANT POLICY PORTFOLIO BENCHMARK RETURN FOR THAT PERIOD, THREE YEAR MERGED POOL ANNUALIZED PERFORMANCE VERSUS THE PERFORMANCE OF THE NINETEEN LARGEST COLLEGE AND UNIVERSITY ENDOWMENT INVESTMENT POOLS IN THE UNITED STATES, AND INDIVIDUAL PERFORMANCE. VARIABLE COMPENSATION OF ATHLETICS PROFESSIONALS LISTED ATHLETICS PROFESSIONALS ARE ELIGIBLE TO RECEIVE BONUSES AND INCENTIVE COMPENSATION BASED ON THE ACADEMIC PERFORMANCE OF THE STUDENT-ATHLETES, ATHLETIC PERFORMANCE, ATTENDANCE AT ATHLETIC EVENTS, AND/OR LEADERSHIP, AS PROVIDED IN THE PROFESSIONALS' COMPENSATION AGREEMENTS. VARIABLE COMPENSATION OF OFFICERS AND OTHERS OFFICERS AND OTHERS ARE ELIGIBLE TO RECEIVE BONUSES AND INCENTIVE COMPENSATION BASED ON PERFORMANCE. CURRENT YEAR BONUS AMOUNTS ARE REPORTED IN SCHEDULE J, PART II, COLUMN B(II). CERTAIN BONUS AMOUNTS MAY BE DEFERRED AND PAID IN A LATER YEAR SUBJECT TO IRC SECTION 457(F). SUCH AMOUNTS ARE REPORTED IN SCHEDULE J, PART II, COLUMN (C) IN THE YEAR OF DEFERRAL AND REPORTED IN SCHEDULE J, PART II, COLUMN (B)(III) AND COLUMN (F) IN THE YEAR OF PAYMENT, IF APPLICABLE.
PART II, COLUMN (B) (iii)	OTHER REPORTABLE COMPENSATION IN PART II, COLUMN (B)(III) INCLUDES HOUSING ASSISTANCE AND OTHER MISCELLANEOUS COMPENSATION. THIS DOES NOT INCLUDE VARIOUS ITEMS OF "LISTED PROPERTY" (E.G., COMPUTERS AND PERIPHERALS) THAT STANFORD HAS PROVIDED TO THE ABOVE LISTED EMPLOYEES PRINCIPALLY FOR THEIR BUSINESS USE AND NOT AS COMPENSATION. Part II, Columns (C) AND (D) LISTED PERSONS ACCRUE FUTURE BENEFITS THAT ARE AVAILABLE TO ALL STANFORD EMPLOYEES, SUCH AS POST-RETIREMENT MEDICAL INSURANCE AND TUITION BENEFITS, AND LISTED PERSONS WHO ARE ALSO FACULTY ACCRUE FUTURE FACULTY BENEFITS SUCH AS SABBATICAL AND TENURE BUYOUT PROVISIONS. THESE BENEFITS ARE SUBJECT TO CERTAIN ELIGIBILITY REQUIREMENTS SUCH AS AGE, YEARS OF SERVICE, AND EMPLOYEE CLASSIFICATION. FOR SOME BENEFIT PLANS, THE UNIVERSITY RESERVES THE RIGHT TO CHANGE ELIGIBILITY REQUIREMENTS AND/OR THE NATURE AND EXTENT OF THE BENEFIT BEING PROMISED. THE VALUE OF THESE BENEFITS IS REPORTED FOR EACH LISTED PERSON IN THE YEAR, IF ANY, SUCH BENEFITS ARE RECEIVED. PART II, COLUMN (F) AMOUNTS APPEARING IN COLUMN (F) ARE DEFERRED COMPENSATION PAYMENTS REPORTED IN COLUMN (C) IN PRIOR YEARS AND THAT ARE REPORTED (A SECOND TIME) IN COLUMN (B)(III) IN THE CURRENT YEAR.

Schedule J (Form 990) 2014

Additional Data

Software ID:
Software Version:

- TIN:

Schedule K
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Information on Tax Exempt Bonds

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

Information about Schedule K (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

Name of the organization
THE BOARD OF TRUSTEES OF THE LELAND STANFORD
JUNIOR UNIVERSITY

Employer identification number
94-1156365

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
(a) Issuer name		(b) Issuer EIN	(c) CUSIP #	(d) Date issued	(e) Issue price	(f) Description of purpose	Yes	No	Yes	No	Yes	No
A	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY CP	52-1705592	13018AXQ8	10-22-2014	300,000,000	SEE SCHEDULE O		X		X		X
B	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY S	52-1705592	130175P89	06-24-2004	181,196,530	SEE SCHEDULE O		X		X		X
C	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY T-1&3	52-1705592	130178JD9	06-19-2007	153,277,097	SEE SCHEDULE O		X		X		X
D	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY T-5	52-1705592	130178TQ9	08-04-2009	59,147,724	SEE SCHEDULE O		X		X		X
	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-1	52-1705592	130178VU7	05-06-2010	251,631,228	SEE SCHEDULE O		X		X		X
	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-2	52-1705592	130178M86	04-17-2012	99,193,766	SEE SCHEDULE O		X		X		X
	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-3	52-1705592	130178X76	05-15-2013	351,795,122	SEE SCHEDULE O		X		X		X
	CALIFORNIA EDUCATIONAL FACILITIES SERIES U-4	52-1705592	130178X84	05-15-2013	52,773,978	SEE SCHEDULE O		X		X		X
	CALIFORNIA EDUCATIONAL FACILITIES SERIES U-5	52-1705592	1301783X2	05-14-2014	150,450,962	SEE SCHEDULE O		X		X		X
	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-6	52-1705592	1301783W4	05-14-2014	350,002,728	SEE SCHEDULE O		X		X		X

Part II

Proceeds

	A		B		C		D
	1 Amount of bonds retired . . . . . . . . . . . . . .	0		9,790,000		0		0
2 Amount of bonds legally defeased . . . . . . . . . . .	0		0		0		0
3 Total proceeds of issue . . . . . . . . . . . . . .	300,218,072		182,429,497		156,107,342		59,148,032
4 Gross proceeds in reserve funds . . . . . . . . . . . .	0		0		0		0
5 Capitalized interest from proceeds . . . . . . . . . . .	2,386,043		1,198,734		595,440		0
6 Proceeds in refunding escrows . . . . . . . . . . . .	0		0		0		0
7 Issuance costs from proceeds . . . . . . . . . . . .	0		992,205		661,216		1,644
8 Credit enhancement from proceeds . . . . . . . . . . .	0		0		0		0
9 Working capital expenditures from proceeds . . . . . . . . .	0		0		0		0
10 Capital expenditures from proceeds . . . . . . . . . . .	48,608,367		147,790,592		64,355,560		0
11 Other spent proceeds . . . . . . . . . . . . . .	218,072		32,447,966		90,495,126		59,146,388
12 Other unspent proceeds . . . . . . . . . . . . . .	0		0		0		0
13 Year of substantial completion . . . . . . . . . . . .	2015		2006		2009		2003
	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
2 Are there any lease arrangements that may result in private business use of bond-financed property? . . . . . . . . .	X		X		X

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50193E

Schedule K (Form 990) 2014

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
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?
c Are there any research agreements that may result in private business use of bond-financed property? . . . . . . . . . . . . . . .	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 . .	0 %		0 %		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 . . . . . . .	0 %		0 %
6 Total of lines 4 and 5 . . . . . . . . . . . . .	0 %		0 %
7 Does the bond issue meet the private security or payment test? . . . . .		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
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of.
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
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

Part IV

Arbitrage

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? . .		X		X		X		X
2 If "No" to line 1, did the following apply? . . . .
a Rebate not due yet? . . . . . . . .	X			X		X		X
b Exception to rebate? . . . . . . . .	X		X		X		X
c No rebate due? . . . . . . . .		X	X		X			X
If "Yes" to 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) 2014

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 . . . . . . . . . .
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? . . . . .
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
SCHEDULE K	TAX-EXEMPT BONDS FOR MORE THAN 30 YEARS, STANFORD AND THE MANY COMMUNITIES AND CONSTITUENCIES IT SERVES HAVE BENEFITED FROM TAX-EXEMPT BORROWING THROUGH THE CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY. THE UNIVERSITY USES GENEROUS DONOR GIFTS, UNIVERSITY RESERVES AND TAXABLE DEBT, IN ADDITION TO PROCEEDS FROM TAX EXEMPT BORROWING, TO FUND THE CONSTRUCTION OF ACADEMIC BUILDINGS, RESEARCH SUPPORT FACILITIES, RESIDENCES AND OTHER CAMPUS HOUSING, ROADS AND INFRASTRUCTURE. THESE FACILITIES HAVE, IN TURN, ENABLED THE UNIVERSITY TO ATTRACT OUTSTANDING FACULTY AND STUDENTS AND TO MORE EFFECTIVELY PERFORM INTERDISCIPLINARY RESEARCH DESIGNED TO ADDRESS FUNDAMENTAL WORLD PROBLEMS. THE NEW FACILITIES PROVIDE THE STANFORD COMMUNITY WITH THE MOST ADVANCED TECHNOLOGY AND ENVIRONMENT FOR TEACHING, LEARNING AND RESEARCH. THE FUNDING ALSO HAS PLAYED A KEY ROLE IN ENABLING STANFORD TO MEET SEISMIC AND OTHER FEDERAL AND STATE BUILDING REQUIREMENTS. THE FOLLOWING ARE EXAMPLES OF BUILDINGS FUNDED IN PART THROUGH TAX-EXEMPT DEBT: i. THE YANG YAMAZAKI ENVIRONMENTAL AND ENERGY BUILDING IS THE HUB OF STANFORD'S ENVIRONMENTAL SUSTAINABILITY TEACHING AND RESEARCH. IT IS A MODEL FOR SUSTAINABILITY BUILDING STANDARDS, USING 56 PERCENT LESS ENERGY AND 90 PERCENT LESS POTABLE WATER THAN A TRADITIONALLY CONSTRUCTED BUILDING OF ITS SIZE. IT HAS BEEN RECOGNIZED WITH LEED PLATINUM CERTIFICATION. ii. THE LI KA SHING CENTER FOR LEARNING AND KNOWLEDGE BRINGS TOGETHER CUTTING-EDGE MEDICINE, MODERN EDUCATION AND ADVANCED TECHNOLOGY TO TRAIN THE PHYSICIANS OF TOMORROW. MEDICAL STUDENTS PRACTICE LIFE-SAVING SKILLS IN REALISTIC SIMULATIONS AND LEARN TO APPLY RESEARCH TO BEDSIDE TREATMENTS. THE CENTER IS A GATHERING PLACE FOR MEDICAL EXPERTS TO SHARE RESEARCH AND HEALTH CARE INSIGHTS AND TO BRING THEIR COMBINED EXPERTISE TO BEAR ON THE WORLD'S GREATEST HEALTH CHALLENGES. iii. THE JAMES AND ANNA MARIE SPILKER ENGINEERING AND APPLIED SCIENCES BUILDING FOSTERS COLLABORATIVE DEVELOPMENT IN THE BURGEONING FIELD OF NANOTECHNOLOGY. SCIENTISTS AT THE CENTER ARE STUDYING HOW TO CREATE MATERIALS AND DEVICES NO BIGGER THAN ONE-BILLIONTH OF A METER, WITH DIRECT AND ECONOMICALLY VIABLE APPLICATIONS TO MEDICINE, ENERGY AND COMMUNICATIONS. iv. THE HUANG ENGINEERING CENTER HOUSES THE SCHOOL OF ENGINEERING, WHOSE TIES TO THE HIGH-TECHNOLOGY INDUSTRY CONTINUE TO FUEL THE GROWTH AND ECONOMY OF SILICON VALLEY AND NORTHERN CALIFORNIA. THE SCHOOL OF ENGINEERING IS WORLD RENOWNED FOR PUSHING THE FRONTIERS OF MODERN SCIENCE AND ENGINEERING, ESPECIALLY IN THE FIELDS OF COMPUTER SCIENCE, BIOENGINEERING AND ENVIRONMENTAL SUSTAINABILITY. v. THE LORRY I. LOKEY STEM CELL RESEARCH BUILDING OPENED IN 2010 AND IS THE LARGEST DEDICATED STEM CELL RESEARCH BUILDING IN THE COUNTRY. THE BUILDING HOUSES THE STANFORD STEM CELL BIOLOGY AND REGENERATIVE MEDICINE INSTITUTE, WHICH INTEGRATES RESEARCHERS FROM CANCER, NEUROSCIENCE, CARDIOVASCULAR MEDICINE, TRANSPLANTATION, IMMUNOLOGY, BIOENGINEERING AND DEVELOPMENTAL BIOLOGY. ALL ARE FOCUSED ON MAKING DISCOVERIES IN STEM CELL RESEARCH AND QUICKLY TRANSLATING THEM INTO PRECLINICAL APPLICATIONS, INNOVATIVE THERAPIES AND TREATMENTS. vi. THE MUNGER GRADUATE RESIDENCE IS A FIVE-BUILDING HOUSING COMPLEX FOR 600 STANFORD LAW AND OTHER GRADUATE STUDENTS. IT IS A SIGNIFICANT INVESTMENT BY STANFORD IN MITIGATING TRAFFIC AND OTHER ENVIRONMENTAL CONCERNS AS IT GREATLY REDUCES THE NUMBER OF PEOPLE DRIVING TO CAMPUS DAILY. vii. THE WILLIAM H. NEUKOM BUILDING, WHICH HOUSES THE CLINICS OF THE STANFORD LAW SCHOOL, OPENED IN 2011 AND WAS BUILT TO SATISFY THE EQUIVALENT OF A LEED GOLD CERTIFICATION FOR SUSTAINABILITY. THE BUILDING USES 30 PERCENT LESS ENERGY THAN REQUIRED BY CODE. THE BUILDING HOUSES THE MILLS LEGAL CLINIC, WHICH INCLUDES 12 CLINICS THAT TEACH THROUGH EXPERIENTIAL EDUCATION. LAW STUDENTS LEARN THE PRACTICE OF LAW BY REPRESENTING, FOR INSTANCE, LOW-INCOME OR INDIGENT PEOPLE IN CIVIL AND CRIMINAL LITIGATIONS, AND BY PROVIDING LEGAL COUNSEL ON ENVIRONMENTAL ISSUES, HUMAN RIGHTS, NONPROFIT CORPORATE GOVERNANCE, EDUCATION, AND RELIGIOUS FREEDOM. FORM 990, SCHEDULE K, PART I, COLUMN C CUSIP NUMBER CEFA TAX EXEMPT COMMERCIAL PAPER ("TECP") DATED 10/22/14 WAS ASSIGNED A UNIQUE BLOCK OF 900 CUSIP NUMBERS UPON ISSUANCE. A NEW CUSIP NUMBER IS ASSIGNED TO EACH TRANCHE OF TECP THAT IS ISSUED. THE CUSIP NUMBER LISTED IS THE FIRST CUSIP NUMBER IN THE SERIES AND WAS ASSIGNED AT THE ISSUANCE DATE, 10/22/14. FORM 990, SCHEDULE K, PART I, COLUMN F DESCRIPTION OF PURPOSE FOR TAX-EXEMPT BONDS A. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY CP - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES. REFUND PRIOR COMMERCIAL PAPER NOTES ISSUED IN 2013 THAT WERE PART OF THE SAME PROGRAM. COSTS OF ISSUANCE. B. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY S - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES. REFUND CEFA SERIES L-8 ISSUED 10/30/2000, REFUND CEFA SERIES L-9 ISSUED 10/31/2001, REFUND CEFA TAX EXEMPT COMMERCIAL PAPER REVENUE NOTES ISSUED 3/18/03. CONVERSION OF SERIES S BONDS ON MAY 15, 2013 FROM VARIABLE RATE TO FIXED RATE AND CANCELLATION OF $9,790,000 AGGREGATE PRINCIPAL AMOUNT OF THE BONDS. COSTS OF ISSUANCE. C. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY T-1 AND T-3 - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES, CAPITAL EQUIPMENT, LAND IMPROVEMENTS, UTILITIES AND SYSTEMS. REFUND CEFA TAX EXEMPT COMMERCIAL PAPER NOTES ISSUED ON VARIOUS DATES. COSTS OF ISSUANCE. D. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY T-5 - ADVANCE REFUND $59,180,000 OF CEFA SERIES P REVENUE BONDS - ISSUED MARCH 30, 1999. E. CALIFORNIA EDUCATIONAL FACILITES AUTHORITY U-1 - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES, CAPITAL EQUIPMENT, LAND IMPROVEMENTS, UTILITIES, AND SYSTEMS. REFUND CEFA TAX EXEMPT COMMERCIAL PAPER NOTES ISSUED ON VARIOUS DATES. COSTS OF ISSUANCE. F. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-2 - REFUND TAXABLE COMMERCIAL PAPER NOTES ISSUED ON VARIOUS DATES THAT WERE USED TO REFUND CEFA SERIES Q ISSUED ON 5/3/2001. COSTS OF ISSUANCE. G. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-3 - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES, CAPITAL EQUIPMENT, LAND IMPROVEMENTS, UTILITIES AND SYSTEMS. REFUND CEFA TAX EXEMPT COMMERCIAL PAPER NOTES ISSUED ON VARIOUS DATES. COSTS OF ISSUANCE. H. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-4 - ADVANCE REFUND CEFA SERIES P BONDS ISSUED ON 3/30/1999. COSTS OF ISSUANCE. I. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-5 - REFUND TAXABLE COMMERCIAL PAPER NOTES ISSUED ON VARIOUS DATES THAT WERE USED TO REFUND CEFA SERIES T-4 ISSUED ON MAY 15, 2008. J. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-6 - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES, CAPITAL EQUIPMENT, LAND IMPROVEMENTS, UTILITIES AND SYSTEMS. REFUND TAX EXEMPT COMMERCIAL PAPER NOTES. FORM 990, SCHEDULE K, PART II COMMERCIAL PAPER DEBT FOR CEFA CP, PART II, LINE 3 IS THE MAXIMUM AMOUNT OF COMMERCIAL PAPER THAT IS AUTHORIZED UNDER THAT ISSUE. ADDITIONAL AMOUNTS SPENT REPRESENT INVESTMENT EARNINGS. FORM 990, SCHEDULE K, PART II, LINE 3 TOTAL PROCEEDS THE DIFFERENCE BETWEEN LINE 3 AND SCHEDULE K, PART I, COLUMN (E) AMOUNTS REPRESENTS INVESTMENT EARNINGS. FORM 990, SCHEDULE K, PART III REFINANCING CEFA SERIES T-5, U-2, U-4 & U-5 PROCEEDS WERE USED TO REFINANCE DEBT ISSUED PRIOR TO JANUARY 1, 2003. ACCORDINGLY, PART III IS NOT COMPLETED FOR THESE ISSUES. FORM 990, SCHEDULE K, PART III, LINES 4-5 PRIVATE BUSINESS USE STANFORD UNIVERSITY FINANCES ITS FACILITIES WITH A COMBINATION OF TAX-EXEMPT DEBT, TAXABLE DEBT, GIFTS AND OTHER UNIVERSITY FUNDS. OCCASIONALLY, SOME OF THESE FACILITIES WILL HOUSE ACTIVITIES THAT MAY CONSTITUTE "PRIVATE BUSINESS USE", AS DEFINED IN IRC SECTION 141. FOR INSTANCE, STANFORD MAY RENT A SMALL PORTION OF A FACILITY TO A FOR-PROFIT OPERATOR OF CAFETERIAS (PRIMARILY FOR THE CONVENIENCE OF FACULTY, STAFF, STUDENTS AND THEIR GUESTS). IN OTHER SITUATIONS, STANFORD MAY RECEIVE A GENEROUS CORPORATE GIFT TO FUND A PORTION OF A BUILDING AND MAY CHOOSE TO ACKNOWLEDGE SUCH GENEROSITY BY NAMING A CLASSROOM, LIBRARY OR AUDITORIUM IN HONOR OF THE CORPORATE DONOR. IN SUCH CASES, STANFORD ELECTS THE "UNDIVIDED PORTION ALLOCATION METHOD" DESCRIBED IN PROPOSED TREASURY REGULATION SECTION 1.141-D(6), AND THUS ALLOCATES SUCH "PRIVATE BUSINESS USE" FIRST TO THAT PORTION OF THE FACILITY FUNDED BY TAXABLE DEBT, GIFTS OR OTHER UNIVERSITY FUNDS. ACCORDINGLY, STANFORD REPORTS 0% AS THE PERCENTAGE OF FINANCED PROPERTY USED IN PRIVATE BUSINESS USE (PART III, QUESTION 4). IN ADDITION TO THE CONSTRUCTION COST OF BUILDINGS, TAX-EXEMPT DEBT ALSO FUNDED A SIGNIFICANT PORTION OF THE UNIVERSITY'S INFRASTRUCTURE, INCLUDING ROADS AND UNDERGROUND UTILITIES. THE PORTION OF THE FUNDING OF THESE IMPROVEMENTS BY SOURCES OTHER THAN TAX-EXEMPT DEBT AS A PERCENTAGE OF TOTAL FUNDING WAS WELL IN EXCESS OF THE MEASURED AMOUNT OF PRIVATE BUSINESS USE TO TOTAL USE.
SCHEDULE K CONTINUED	ACCORDINGLY, THE AMOUNTS REPORTED ON PART III, LINES 4 AND 5, FOR THE PERCENTAGE OF FINANCED PROPERTY USED IN PRIVATE BUSINESS USE BY OTHER ENTITIES AND AS A RESULT OF AN UNRELATED TRADE OR BUSINESS ACTIVITY, RESPECTIVELY, ARE ZERO.
BOND ISSUANCE COSTS (BIC) AS A PERCENTAGE OF THE TOTAL PROCEEDS BY	BOND ISSUE ARE: ISSUE: BIC% CEFA CP 0.0000% CEFA SERIES S 0.5476% CEFA SERIES T-1 0.4314% CEFA SERIES T-5 0.0028% CEFA SERIES U-1 0.6483% CEFA SERIES U-2 0.5773% CEFA SERIES U-3 0.3551% CEFA SERIES U-4 0.3625% CEFA SERIES U-5 0.0015% CEFA SERIES U-6 0.0000% FORM 990, SCHEDULE K, PART IV FORM 8038-T: DURING THE PERIODS SINCE THESE BONDS WERE ISSUED, THE INTEREST COST ON THE BONDS HAS EXCEEDED THE INVESTMENT RETURN ON ANY UNSPENT PROCEEDS. ACCORDINGLY, NO FORM 8038-T HAS BEEN ISSUED. FORM 990, SCHEDULE K, PART IV, LINE 2(C) REBATE CALCULATIONS B. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY SERIES HAD A REBATE CALCULATION PERFORMED ON DECEMBER 3, 2007. C. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY SERIES T-1 AND T-3 HAD A REBATE CALCULATION PERFORMED ON JULY 21, 2010. D. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY SERIES U-1 HAD A REBATE CALCULATION PERFORMED ON JUNE 21, 2013.

Schedule K (Form 990) 2014

Additional Data

Software ID:
Software Version:

- TIN:

Schedule K
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Information on Tax Exempt Bonds

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

Information about Schedule K (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

Name of the organization
THE BOARD OF TRUSTEES OF THE LELAND STANFORD
JUNIOR UNIVERSITY

Employer identification number
94-1156365

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
(a) Issuer name		(b) Issuer EIN	(c) CUSIP #	(d) Date issued	(e) Issue price	(f) Description of purpose	Yes	No	Yes	No	Yes	No
A	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY CP	52-1705592	13018AXQ8	10-22-2014	300,000,000	SEE SCHEDULE O		X		X		X
B	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY S	52-1705592	130175P89	06-24-2004	181,196,530	SEE SCHEDULE O		X		X		X
C	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY T-1&3	52-1705592	130178JD9	06-19-2007	153,277,097	SEE SCHEDULE O		X		X		X
D	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY T-5	52-1705592	130178TQ9	08-04-2009	59,147,724	SEE SCHEDULE O		X		X		X
	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-1	52-1705592	130178VU7	05-06-2010	251,631,228	SEE SCHEDULE O		X		X		X
	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-2	52-1705592	130178M86	04-17-2012	99,193,766	SEE SCHEDULE O		X		X		X
	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-3	52-1705592	130178X76	05-15-2013	351,795,122	SEE SCHEDULE O		X		X		X
	CALIFORNIA EDUCATIONAL FACILITIES SERIES U-4	52-1705592	130178X84	05-15-2013	52,773,978	SEE SCHEDULE O		X		X		X
	CALIFORNIA EDUCATIONAL FACILITIES SERIES U-5	52-1705592	1301783X2	05-14-2014	150,450,962	SEE SCHEDULE O		X		X		X
	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-6	52-1705592	1301783W4	05-14-2014	350,002,728	SEE SCHEDULE O		X		X		X

Part II

Proceeds

	A		B		C		D
	1 Amount of bonds retired . . . . . . . . . . . . . .	0		9,790,000		0		0
2 Amount of bonds legally defeased . . . . . . . . . . .	0		0		0		0
3 Total proceeds of issue . . . . . . . . . . . . . .	300,218,072		182,429,497		156,107,342		59,148,032
4 Gross proceeds in reserve funds . . . . . . . . . . . .	0		0		0		0
5 Capitalized interest from proceeds . . . . . . . . . . .	2,386,043		1,198,734		595,440		0
6 Proceeds in refunding escrows . . . . . . . . . . . .	0		0		0		0
7 Issuance costs from proceeds . . . . . . . . . . . .	0		992,205		661,216		1,644
8 Credit enhancement from proceeds . . . . . . . . . . .	0		0		0		0
9 Working capital expenditures from proceeds . . . . . . . . .	0		0		0		0
10 Capital expenditures from proceeds . . . . . . . . . . .	48,608,367		147,790,592		64,355,560		0
11 Other spent proceeds . . . . . . . . . . . . . .	218,072		32,447,966		90,495,126		59,146,388
12 Other unspent proceeds . . . . . . . . . . . . . .	0		0		0		0
13 Year of substantial completion . . . . . . . . . . . .	2015		2006		2009		2003
	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
2 Are there any lease arrangements that may result in private business use of bond-financed property? . . . . . . . . .	X		X		X

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50193E

Schedule K (Form 990) 2014

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
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?
c Are there any research agreements that may result in private business use of bond-financed property? . . . . . . . . . . . . . . .	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 . .	0 %		0 %		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 . . . . . . .	0 %		0 %
6 Total of lines 4 and 5 . . . . . . . . . . . . .	0 %		0 %
7 Does the bond issue meet the private security or payment test? . . . . .		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
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of.
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
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

Part IV

Arbitrage

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? . .		X		X		X		X
2 If "No" to line 1, did the following apply? . . . .
a Rebate not due yet? . . . . . . . .	X			X		X		X
b Exception to rebate? . . . . . . . .	X		X		X		X
c No rebate due? . . . . . . . .		X	X		X			X
If "Yes" to 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) 2014

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 . . . . . . . . . .
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? . . . . .
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
SCHEDULE K	TAX-EXEMPT BONDS FOR MORE THAN 30 YEARS, STANFORD AND THE MANY COMMUNITIES AND CONSTITUENCIES IT SERVES HAVE BENEFITED FROM TAX-EXEMPT BORROWING THROUGH THE CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY. THE UNIVERSITY USES GENEROUS DONOR GIFTS, UNIVERSITY RESERVES AND TAXABLE DEBT, IN ADDITION TO PROCEEDS FROM TAX EXEMPT BORROWING, TO FUND THE CONSTRUCTION OF ACADEMIC BUILDINGS, RESEARCH SUPPORT FACILITIES, RESIDENCES AND OTHER CAMPUS HOUSING, ROADS AND INFRASTRUCTURE. THESE FACILITIES HAVE, IN TURN, ENABLED THE UNIVERSITY TO ATTRACT OUTSTANDING FACULTY AND STUDENTS AND TO MORE EFFECTIVELY PERFORM INTERDISCIPLINARY RESEARCH DESIGNED TO ADDRESS FUNDAMENTAL WORLD PROBLEMS. THE NEW FACILITIES PROVIDE THE STANFORD COMMUNITY WITH THE MOST ADVANCED TECHNOLOGY AND ENVIRONMENT FOR TEACHING, LEARNING AND RESEARCH. THE FUNDING ALSO HAS PLAYED A KEY ROLE IN ENABLING STANFORD TO MEET SEISMIC AND OTHER FEDERAL AND STATE BUILDING REQUIREMENTS. THE FOLLOWING ARE EXAMPLES OF BUILDINGS FUNDED IN PART THROUGH TAX-EXEMPT DEBT: i. THE YANG YAMAZAKI ENVIRONMENTAL AND ENERGY BUILDING IS THE HUB OF STANFORD'S ENVIRONMENTAL SUSTAINABILITY TEACHING AND RESEARCH. IT IS A MODEL FOR SUSTAINABILITY BUILDING STANDARDS, USING 56 PERCENT LESS ENERGY AND 90 PERCENT LESS POTABLE WATER THAN A TRADITIONALLY CONSTRUCTED BUILDING OF ITS SIZE. IT HAS BEEN RECOGNIZED WITH LEED PLATINUM CERTIFICATION. ii. THE LI KA SHING CENTER FOR LEARNING AND KNOWLEDGE BRINGS TOGETHER CUTTING-EDGE MEDICINE, MODERN EDUCATION AND ADVANCED TECHNOLOGY TO TRAIN THE PHYSICIANS OF TOMORROW. MEDICAL STUDENTS PRACTICE LIFE-SAVING SKILLS IN REALISTIC SIMULATIONS AND LEARN TO APPLY RESEARCH TO BEDSIDE TREATMENTS. THE CENTER IS A GATHERING PLACE FOR MEDICAL EXPERTS TO SHARE RESEARCH AND HEALTH CARE INSIGHTS AND TO BRING THEIR COMBINED EXPERTISE TO BEAR ON THE WORLD'S GREATEST HEALTH CHALLENGES. iii. THE JAMES AND ANNA MARIE SPILKER ENGINEERING AND APPLIED SCIENCES BUILDING FOSTERS COLLABORATIVE DEVELOPMENT IN THE BURGEONING FIELD OF NANOTECHNOLOGY. SCIENTISTS AT THE CENTER ARE STUDYING HOW TO CREATE MATERIALS AND DEVICES NO BIGGER THAN ONE-BILLIONTH OF A METER, WITH DIRECT AND ECONOMICALLY VIABLE APPLICATIONS TO MEDICINE, ENERGY AND COMMUNICATIONS. iv. THE HUANG ENGINEERING CENTER HOUSES THE SCHOOL OF ENGINEERING, WHOSE TIES TO THE HIGH-TECHNOLOGY INDUSTRY CONTINUE TO FUEL THE GROWTH AND ECONOMY OF SILICON VALLEY AND NORTHERN CALIFORNIA. THE SCHOOL OF ENGINEERING IS WORLD RENOWNED FOR PUSHING THE FRONTIERS OF MODERN SCIENCE AND ENGINEERING, ESPECIALLY IN THE FIELDS OF COMPUTER SCIENCE, BIOENGINEERING AND ENVIRONMENTAL SUSTAINABILITY. v. THE LORRY I. LOKEY STEM CELL RESEARCH BUILDING OPENED IN 2010 AND IS THE LARGEST DEDICATED STEM CELL RESEARCH BUILDING IN THE COUNTRY. THE BUILDING HOUSES THE STANFORD STEM CELL BIOLOGY AND REGENERATIVE MEDICINE INSTITUTE, WHICH INTEGRATES RESEARCHERS FROM CANCER, NEUROSCIENCE, CARDIOVASCULAR MEDICINE, TRANSPLANTATION, IMMUNOLOGY, BIOENGINEERING AND DEVELOPMENTAL BIOLOGY. ALL ARE FOCUSED ON MAKING DISCOVERIES IN STEM CELL RESEARCH AND QUICKLY TRANSLATING THEM INTO PRECLINICAL APPLICATIONS, INNOVATIVE THERAPIES AND TREATMENTS. vi. THE MUNGER GRADUATE RESIDENCE IS A FIVE-BUILDING HOUSING COMPLEX FOR 600 STANFORD LAW AND OTHER GRADUATE STUDENTS. IT IS A SIGNIFICANT INVESTMENT BY STANFORD IN MITIGATING TRAFFIC AND OTHER ENVIRONMENTAL CONCERNS AS IT GREATLY REDUCES THE NUMBER OF PEOPLE DRIVING TO CAMPUS DAILY. vii. THE WILLIAM H. NEUKOM BUILDING, WHICH HOUSES THE CLINICS OF THE STANFORD LAW SCHOOL, OPENED IN 2011 AND WAS BUILT TO SATISFY THE EQUIVALENT OF A LEED GOLD CERTIFICATION FOR SUSTAINABILITY. THE BUILDING USES 30 PERCENT LESS ENERGY THAN REQUIRED BY CODE. THE BUILDING HOUSES THE MILLS LEGAL CLINIC, WHICH INCLUDES 12 CLINICS THAT TEACH THROUGH EXPERIENTIAL EDUCATION. LAW STUDENTS LEARN THE PRACTICE OF LAW BY REPRESENTING, FOR INSTANCE, LOW-INCOME OR INDIGENT PEOPLE IN CIVIL AND CRIMINAL LITIGATIONS, AND BY PROVIDING LEGAL COUNSEL ON ENVIRONMENTAL ISSUES, HUMAN RIGHTS, NONPROFIT CORPORATE GOVERNANCE, EDUCATION, AND RELIGIOUS FREEDOM. FORM 990, SCHEDULE K, PART I, COLUMN C CUSIP NUMBER CEFA TAX EXEMPT COMMERCIAL PAPER ("TECP") DATED 10/22/14 WAS ASSIGNED A UNIQUE BLOCK OF 900 CUSIP NUMBERS UPON ISSUANCE. A NEW CUSIP NUMBER IS ASSIGNED TO EACH TRANCHE OF TECP THAT IS ISSUED. THE CUSIP NUMBER LISTED IS THE FIRST CUSIP NUMBER IN THE SERIES AND WAS ASSIGNED AT THE ISSUANCE DATE, 10/22/14. FORM 990, SCHEDULE K, PART I, COLUMN F DESCRIPTION OF PURPOSE FOR TAX-EXEMPT BONDS A. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY CP - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES. REFUND PRIOR COMMERCIAL PAPER NOTES ISSUED IN 2013 THAT WERE PART OF THE SAME PROGRAM. COSTS OF ISSUANCE. B. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY S - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES. REFUND CEFA SERIES L-8 ISSUED 10/30/2000, REFUND CEFA SERIES L-9 ISSUED 10/31/2001, REFUND CEFA TAX EXEMPT COMMERCIAL PAPER REVENUE NOTES ISSUED 3/18/03. CONVERSION OF SERIES S BONDS ON MAY 15, 2013 FROM VARIABLE RATE TO FIXED RATE AND CANCELLATION OF $9,790,000 AGGREGATE PRINCIPAL AMOUNT OF THE BONDS. COSTS OF ISSUANCE. C. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY T-1 AND T-3 - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES, CAPITAL EQUIPMENT, LAND IMPROVEMENTS, UTILITIES AND SYSTEMS. REFUND CEFA TAX EXEMPT COMMERCIAL PAPER NOTES ISSUED ON VARIOUS DATES. COSTS OF ISSUANCE. D. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY T-5 - ADVANCE REFUND $59,180,000 OF CEFA SERIES P REVENUE BONDS - ISSUED MARCH 30, 1999. E. CALIFORNIA EDUCATIONAL FACILITES AUTHORITY U-1 - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES, CAPITAL EQUIPMENT, LAND IMPROVEMENTS, UTILITIES, AND SYSTEMS. REFUND CEFA TAX EXEMPT COMMERCIAL PAPER NOTES ISSUED ON VARIOUS DATES. COSTS OF ISSUANCE. F. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-2 - REFUND TAXABLE COMMERCIAL PAPER NOTES ISSUED ON VARIOUS DATES THAT WERE USED TO REFUND CEFA SERIES Q ISSUED ON 5/3/2001. COSTS OF ISSUANCE. G. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-3 - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES, CAPITAL EQUIPMENT, LAND IMPROVEMENTS, UTILITIES AND SYSTEMS. REFUND CEFA TAX EXEMPT COMMERCIAL PAPER NOTES ISSUED ON VARIOUS DATES. COSTS OF ISSUANCE. H. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-4 - ADVANCE REFUND CEFA SERIES P BONDS ISSUED ON 3/30/1999. COSTS OF ISSUANCE. I. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-5 - REFUND TAXABLE COMMERCIAL PAPER NOTES ISSUED ON VARIOUS DATES THAT WERE USED TO REFUND CEFA SERIES T-4 ISSUED ON MAY 15, 2008. J. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-6 - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES, CAPITAL EQUIPMENT, LAND IMPROVEMENTS, UTILITIES AND SYSTEMS. REFUND TAX EXEMPT COMMERCIAL PAPER NOTES. FORM 990, SCHEDULE K, PART II COMMERCIAL PAPER DEBT FOR CEFA CP, PART II, LINE 3 IS THE MAXIMUM AMOUNT OF COMMERCIAL PAPER THAT IS AUTHORIZED UNDER THAT ISSUE. ADDITIONAL AMOUNTS SPENT REPRESENT INVESTMENT EARNINGS. FORM 990, SCHEDULE K, PART II, LINE 3 TOTAL PROCEEDS THE DIFFERENCE BETWEEN LINE 3 AND SCHEDULE K, PART I, COLUMN (E) AMOUNTS REPRESENTS INVESTMENT EARNINGS. FORM 990, SCHEDULE K, PART III REFINANCING CEFA SERIES T-5, U-2, U-4 & U-5 PROCEEDS WERE USED TO REFINANCE DEBT ISSUED PRIOR TO JANUARY 1, 2003. ACCORDINGLY, PART III IS NOT COMPLETED FOR THESE ISSUES. FORM 990, SCHEDULE K, PART III, LINES 4-5 PRIVATE BUSINESS USE STANFORD UNIVERSITY FINANCES ITS FACILITIES WITH A COMBINATION OF TAX-EXEMPT DEBT, TAXABLE DEBT, GIFTS AND OTHER UNIVERSITY FUNDS. OCCASIONALLY, SOME OF THESE FACILITIES WILL HOUSE ACTIVITIES THAT MAY CONSTITUTE "PRIVATE BUSINESS USE", AS DEFINED IN IRC SECTION 141. FOR INSTANCE, STANFORD MAY RENT A SMALL PORTION OF A FACILITY TO A FOR-PROFIT OPERATOR OF CAFETERIAS (PRIMARILY FOR THE CONVENIENCE OF FACULTY, STAFF, STUDENTS AND THEIR GUESTS). IN OTHER SITUATIONS, STANFORD MAY RECEIVE A GENEROUS CORPORATE GIFT TO FUND A PORTION OF A BUILDING AND MAY CHOOSE TO ACKNOWLEDGE SUCH GENEROSITY BY NAMING A CLASSROOM, LIBRARY OR AUDITORIUM IN HONOR OF THE CORPORATE DONOR. IN SUCH CASES, STANFORD ELECTS THE "UNDIVIDED PORTION ALLOCATION METHOD" DESCRIBED IN PROPOSED TREASURY REGULATION SECTION 1.141-D(6), AND THUS ALLOCATES SUCH "PRIVATE BUSINESS USE" FIRST TO THAT PORTION OF THE FACILITY FUNDED BY TAXABLE DEBT, GIFTS OR OTHER UNIVERSITY FUNDS. ACCORDINGLY, STANFORD REPORTS 0% AS THE PERCENTAGE OF FINANCED PROPERTY USED IN PRIVATE BUSINESS USE (PART III, QUESTION 4). IN ADDITION TO THE CONSTRUCTION COST OF BUILDINGS, TAX-EXEMPT DEBT ALSO FUNDED A SIGNIFICANT PORTION OF THE UNIVERSITY'S INFRASTRUCTURE, INCLUDING ROADS AND UNDERGROUND UTILITIES. THE PORTION OF THE FUNDING OF THESE IMPROVEMENTS BY SOURCES OTHER THAN TAX-EXEMPT DEBT AS A PERCENTAGE OF TOTAL FUNDING WAS WELL IN EXCESS OF THE MEASURED AMOUNT OF PRIVATE BUSINESS USE TO TOTAL USE.
SCHEDULE K CONTINUED	ACCORDINGLY, THE AMOUNTS REPORTED ON PART III, LINES 4 AND 5, FOR THE PERCENTAGE OF FINANCED PROPERTY USED IN PRIVATE BUSINESS USE BY OTHER ENTITIES AND AS A RESULT OF AN UNRELATED TRADE OR BUSINESS ACTIVITY, RESPECTIVELY, ARE ZERO.
BOND ISSUANCE COSTS (BIC) AS A PERCENTAGE OF THE TOTAL PROCEEDS BY	BOND ISSUE ARE: ISSUE: BIC% CEFA CP 0.0000% CEFA SERIES S 0.5476% CEFA SERIES T-1 0.4314% CEFA SERIES T-5 0.0028% CEFA SERIES U-1 0.6483% CEFA SERIES U-2 0.5773% CEFA SERIES U-3 0.3551% CEFA SERIES U-4 0.3625% CEFA SERIES U-5 0.0015% CEFA SERIES U-6 0.0000% FORM 990, SCHEDULE K, PART IV FORM 8038-T: DURING THE PERIODS SINCE THESE BONDS WERE ISSUED, THE INTEREST COST ON THE BONDS HAS EXCEEDED THE INVESTMENT RETURN ON ANY UNSPENT PROCEEDS. ACCORDINGLY, NO FORM 8038-T HAS BEEN ISSUED. FORM 990, SCHEDULE K, PART IV, LINE 2(C) REBATE CALCULATIONS B. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY SERIES HAD A REBATE CALCULATION PERFORMED ON DECEMBER 3, 2007. C. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY SERIES T-1 AND T-3 HAD A REBATE CALCULATION PERFORMED ON JULY 21, 2010. D. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY SERIES U-1 HAD A REBATE CALCULATION PERFORMED ON JUNE 21, 2013.

Schedule K (Form 990) 2014

Additional Data

Software ID:
Software Version:

- TIN:

Schedule K
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Information on Tax Exempt Bonds

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

Information about Schedule K (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

Name of the organization
THE BOARD OF TRUSTEES OF THE LELAND STANFORD
JUNIOR UNIVERSITY

Employer identification number
94-1156365

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
(a) Issuer name		(b) Issuer EIN	(c) CUSIP #	(d) Date issued	(e) Issue price	(f) Description of purpose	Yes	No	Yes	No	Yes	No
A	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY CP	52-1705592	13018AXQ8	10-22-2014	300,000,000	SEE SCHEDULE O		X		X		X
B	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY S	52-1705592	130175P89	06-24-2004	181,196,530	SEE SCHEDULE O		X		X		X
C	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY T-1&3	52-1705592	130178JD9	06-19-2007	153,277,097	SEE SCHEDULE O		X		X		X
D	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY T-5	52-1705592	130178TQ9	08-04-2009	59,147,724	SEE SCHEDULE O		X		X		X
	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-1	52-1705592	130178VU7	05-06-2010	251,631,228	SEE SCHEDULE O		X		X		X
	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-2	52-1705592	130178M86	04-17-2012	99,193,766	SEE SCHEDULE O		X		X		X
	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-3	52-1705592	130178X76	05-15-2013	351,795,122	SEE SCHEDULE O		X		X		X
	CALIFORNIA EDUCATIONAL FACILITIES SERIES U-4	52-1705592	130178X84	05-15-2013	52,773,978	SEE SCHEDULE O		X		X		X
	CALIFORNIA EDUCATIONAL FACILITIES SERIES U-5	52-1705592	1301783X2	05-14-2014	150,450,962	SEE SCHEDULE O		X		X		X
	CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-6	52-1705592	1301783W4	05-14-2014	350,002,728	SEE SCHEDULE O		X		X		X

Part II

Proceeds

	A		B		C		D
	1 Amount of bonds retired . . . . . . . . . . . . . .	0		9,790,000		0		0
2 Amount of bonds legally defeased . . . . . . . . . . .	0		0		0		0
3 Total proceeds of issue . . . . . . . . . . . . . .	300,218,072		182,429,497		156,107,342		59,148,032
4 Gross proceeds in reserve funds . . . . . . . . . . . .	0		0		0		0
5 Capitalized interest from proceeds . . . . . . . . . . .	2,386,043		1,198,734		595,440		0
6 Proceeds in refunding escrows . . . . . . . . . . . .	0		0		0		0
7 Issuance costs from proceeds . . . . . . . . . . . .	0		992,205		661,216		1,644
8 Credit enhancement from proceeds . . . . . . . . . . .	0		0		0		0
9 Working capital expenditures from proceeds . . . . . . . . .	0		0		0		0
10 Capital expenditures from proceeds . . . . . . . . . . .	48,608,367		147,790,592		64,355,560		0
11 Other spent proceeds . . . . . . . . . . . . . .	218,072		32,447,966		90,495,126		59,146,388
12 Other unspent proceeds . . . . . . . . . . . . . .	0		0		0		0
13 Year of substantial completion . . . . . . . . . . . .	2015		2006		2009		2003
	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
2 Are there any lease arrangements that may result in private business use of bond-financed property? . . . . . . . . .	X		X		X

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50193E

Schedule K (Form 990) 2014

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
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?
c Are there any research agreements that may result in private business use of bond-financed property? . . . . . . . . . . . . . . .	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 . .	0 %		0 %		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 . . . . . . .	0 %		0 %
6 Total of lines 4 and 5 . . . . . . . . . . . . .	0 %		0 %
7 Does the bond issue meet the private security or payment test? . . . . .		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
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of.
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
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

Part IV

Arbitrage

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? . .		X		X		X		X
2 If "No" to line 1, did the following apply? . . . .
a Rebate not due yet? . . . . . . . .	X			X		X		X
b Exception to rebate? . . . . . . . .	X		X		X		X
c No rebate due? . . . . . . . .		X	X		X			X
If "Yes" to 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) 2014

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 . . . . . . . . . .
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? . . . . .
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
SCHEDULE K	TAX-EXEMPT BONDS FOR MORE THAN 30 YEARS, STANFORD AND THE MANY COMMUNITIES AND CONSTITUENCIES IT SERVES HAVE BENEFITED FROM TAX-EXEMPT BORROWING THROUGH THE CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY. THE UNIVERSITY USES GENEROUS DONOR GIFTS, UNIVERSITY RESERVES AND TAXABLE DEBT, IN ADDITION TO PROCEEDS FROM TAX EXEMPT BORROWING, TO FUND THE CONSTRUCTION OF ACADEMIC BUILDINGS, RESEARCH SUPPORT FACILITIES, RESIDENCES AND OTHER CAMPUS HOUSING, ROADS AND INFRASTRUCTURE. THESE FACILITIES HAVE, IN TURN, ENABLED THE UNIVERSITY TO ATTRACT OUTSTANDING FACULTY AND STUDENTS AND TO MORE EFFECTIVELY PERFORM INTERDISCIPLINARY RESEARCH DESIGNED TO ADDRESS FUNDAMENTAL WORLD PROBLEMS. THE NEW FACILITIES PROVIDE THE STANFORD COMMUNITY WITH THE MOST ADVANCED TECHNOLOGY AND ENVIRONMENT FOR TEACHING, LEARNING AND RESEARCH. THE FUNDING ALSO HAS PLAYED A KEY ROLE IN ENABLING STANFORD TO MEET SEISMIC AND OTHER FEDERAL AND STATE BUILDING REQUIREMENTS. THE FOLLOWING ARE EXAMPLES OF BUILDINGS FUNDED IN PART THROUGH TAX-EXEMPT DEBT: i. THE YANG YAMAZAKI ENVIRONMENTAL AND ENERGY BUILDING IS THE HUB OF STANFORD'S ENVIRONMENTAL SUSTAINABILITY TEACHING AND RESEARCH. IT IS A MODEL FOR SUSTAINABILITY BUILDING STANDARDS, USING 56 PERCENT LESS ENERGY AND 90 PERCENT LESS POTABLE WATER THAN A TRADITIONALLY CONSTRUCTED BUILDING OF ITS SIZE. IT HAS BEEN RECOGNIZED WITH LEED PLATINUM CERTIFICATION. ii. THE LI KA SHING CENTER FOR LEARNING AND KNOWLEDGE BRINGS TOGETHER CUTTING-EDGE MEDICINE, MODERN EDUCATION AND ADVANCED TECHNOLOGY TO TRAIN THE PHYSICIANS OF TOMORROW. MEDICAL STUDENTS PRACTICE LIFE-SAVING SKILLS IN REALISTIC SIMULATIONS AND LEARN TO APPLY RESEARCH TO BEDSIDE TREATMENTS. THE CENTER IS A GATHERING PLACE FOR MEDICAL EXPERTS TO SHARE RESEARCH AND HEALTH CARE INSIGHTS AND TO BRING THEIR COMBINED EXPERTISE TO BEAR ON THE WORLD'S GREATEST HEALTH CHALLENGES. iii. THE JAMES AND ANNA MARIE SPILKER ENGINEERING AND APPLIED SCIENCES BUILDING FOSTERS COLLABORATIVE DEVELOPMENT IN THE BURGEONING FIELD OF NANOTECHNOLOGY. SCIENTISTS AT THE CENTER ARE STUDYING HOW TO CREATE MATERIALS AND DEVICES NO BIGGER THAN ONE-BILLIONTH OF A METER, WITH DIRECT AND ECONOMICALLY VIABLE APPLICATIONS TO MEDICINE, ENERGY AND COMMUNICATIONS. iv. THE HUANG ENGINEERING CENTER HOUSES THE SCHOOL OF ENGINEERING, WHOSE TIES TO THE HIGH-TECHNOLOGY INDUSTRY CONTINUE TO FUEL THE GROWTH AND ECONOMY OF SILICON VALLEY AND NORTHERN CALIFORNIA. THE SCHOOL OF ENGINEERING IS WORLD RENOWNED FOR PUSHING THE FRONTIERS OF MODERN SCIENCE AND ENGINEERING, ESPECIALLY IN THE FIELDS OF COMPUTER SCIENCE, BIOENGINEERING AND ENVIRONMENTAL SUSTAINABILITY. v. THE LORRY I. LOKEY STEM CELL RESEARCH BUILDING OPENED IN 2010 AND IS THE LARGEST DEDICATED STEM CELL RESEARCH BUILDING IN THE COUNTRY. THE BUILDING HOUSES THE STANFORD STEM CELL BIOLOGY AND REGENERATIVE MEDICINE INSTITUTE, WHICH INTEGRATES RESEARCHERS FROM CANCER, NEUROSCIENCE, CARDIOVASCULAR MEDICINE, TRANSPLANTATION, IMMUNOLOGY, BIOENGINEERING AND DEVELOPMENTAL BIOLOGY. ALL ARE FOCUSED ON MAKING DISCOVERIES IN STEM CELL RESEARCH AND QUICKLY TRANSLATING THEM INTO PRECLINICAL APPLICATIONS, INNOVATIVE THERAPIES AND TREATMENTS. vi. THE MUNGER GRADUATE RESIDENCE IS A FIVE-BUILDING HOUSING COMPLEX FOR 600 STANFORD LAW AND OTHER GRADUATE STUDENTS. IT IS A SIGNIFICANT INVESTMENT BY STANFORD IN MITIGATING TRAFFIC AND OTHER ENVIRONMENTAL CONCERNS AS IT GREATLY REDUCES THE NUMBER OF PEOPLE DRIVING TO CAMPUS DAILY. vii. THE WILLIAM H. NEUKOM BUILDING, WHICH HOUSES THE CLINICS OF THE STANFORD LAW SCHOOL, OPENED IN 2011 AND WAS BUILT TO SATISFY THE EQUIVALENT OF A LEED GOLD CERTIFICATION FOR SUSTAINABILITY. THE BUILDING USES 30 PERCENT LESS ENERGY THAN REQUIRED BY CODE. THE BUILDING HOUSES THE MILLS LEGAL CLINIC, WHICH INCLUDES 12 CLINICS THAT TEACH THROUGH EXPERIENTIAL EDUCATION. LAW STUDENTS LEARN THE PRACTICE OF LAW BY REPRESENTING, FOR INSTANCE, LOW-INCOME OR INDIGENT PEOPLE IN CIVIL AND CRIMINAL LITIGATIONS, AND BY PROVIDING LEGAL COUNSEL ON ENVIRONMENTAL ISSUES, HUMAN RIGHTS, NONPROFIT CORPORATE GOVERNANCE, EDUCATION, AND RELIGIOUS FREEDOM. FORM 990, SCHEDULE K, PART I, COLUMN C CUSIP NUMBER CEFA TAX EXEMPT COMMERCIAL PAPER ("TECP") DATED 10/22/14 WAS ASSIGNED A UNIQUE BLOCK OF 900 CUSIP NUMBERS UPON ISSUANCE. A NEW CUSIP NUMBER IS ASSIGNED TO EACH TRANCHE OF TECP THAT IS ISSUED. THE CUSIP NUMBER LISTED IS THE FIRST CUSIP NUMBER IN THE SERIES AND WAS ASSIGNED AT THE ISSUANCE DATE, 10/22/14. FORM 990, SCHEDULE K, PART I, COLUMN F DESCRIPTION OF PURPOSE FOR TAX-EXEMPT BONDS A. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY CP - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES. REFUND PRIOR COMMERCIAL PAPER NOTES ISSUED IN 2013 THAT WERE PART OF THE SAME PROGRAM. COSTS OF ISSUANCE. B. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY S - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES. REFUND CEFA SERIES L-8 ISSUED 10/30/2000, REFUND CEFA SERIES L-9 ISSUED 10/31/2001, REFUND CEFA TAX EXEMPT COMMERCIAL PAPER REVENUE NOTES ISSUED 3/18/03. CONVERSION OF SERIES S BONDS ON MAY 15, 2013 FROM VARIABLE RATE TO FIXED RATE AND CANCELLATION OF $9,790,000 AGGREGATE PRINCIPAL AMOUNT OF THE BONDS. COSTS OF ISSUANCE. C. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY T-1 AND T-3 - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES, CAPITAL EQUIPMENT, LAND IMPROVEMENTS, UTILITIES AND SYSTEMS. REFUND CEFA TAX EXEMPT COMMERCIAL PAPER NOTES ISSUED ON VARIOUS DATES. COSTS OF ISSUANCE. D. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY T-5 - ADVANCE REFUND $59,180,000 OF CEFA SERIES P REVENUE BONDS - ISSUED MARCH 30, 1999. E. CALIFORNIA EDUCATIONAL FACILITES AUTHORITY U-1 - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES, CAPITAL EQUIPMENT, LAND IMPROVEMENTS, UTILITIES, AND SYSTEMS. REFUND CEFA TAX EXEMPT COMMERCIAL PAPER NOTES ISSUED ON VARIOUS DATES. COSTS OF ISSUANCE. F. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-2 - REFUND TAXABLE COMMERCIAL PAPER NOTES ISSUED ON VARIOUS DATES THAT WERE USED TO REFUND CEFA SERIES Q ISSUED ON 5/3/2001. COSTS OF ISSUANCE. G. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-3 - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES, CAPITAL EQUIPMENT, LAND IMPROVEMENTS, UTILITIES AND SYSTEMS. REFUND CEFA TAX EXEMPT COMMERCIAL PAPER NOTES ISSUED ON VARIOUS DATES. COSTS OF ISSUANCE. H. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-4 - ADVANCE REFUND CEFA SERIES P BONDS ISSUED ON 3/30/1999. COSTS OF ISSUANCE. I. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-5 - REFUND TAXABLE COMMERCIAL PAPER NOTES ISSUED ON VARIOUS DATES THAT WERE USED TO REFUND CEFA SERIES T-4 ISSUED ON MAY 15, 2008. J. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-6 - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES, CAPITAL EQUIPMENT, LAND IMPROVEMENTS, UTILITIES AND SYSTEMS. REFUND TAX EXEMPT COMMERCIAL PAPER NOTES. FORM 990, SCHEDULE K, PART II COMMERCIAL PAPER DEBT FOR CEFA CP, PART II, LINE 3 IS THE MAXIMUM AMOUNT OF COMMERCIAL PAPER THAT IS AUTHORIZED UNDER THAT ISSUE. ADDITIONAL AMOUNTS SPENT REPRESENT INVESTMENT EARNINGS. FORM 990, SCHEDULE K, PART II, LINE 3 TOTAL PROCEEDS THE DIFFERENCE BETWEEN LINE 3 AND SCHEDULE K, PART I, COLUMN (E) AMOUNTS REPRESENTS INVESTMENT EARNINGS. FORM 990, SCHEDULE K, PART III REFINANCING CEFA SERIES T-5, U-2, U-4 & U-5 PROCEEDS WERE USED TO REFINANCE DEBT ISSUED PRIOR TO JANUARY 1, 2003. ACCORDINGLY, PART III IS NOT COMPLETED FOR THESE ISSUES. FORM 990, SCHEDULE K, PART III, LINES 4-5 PRIVATE BUSINESS USE STANFORD UNIVERSITY FINANCES ITS FACILITIES WITH A COMBINATION OF TAX-EXEMPT DEBT, TAXABLE DEBT, GIFTS AND OTHER UNIVERSITY FUNDS. OCCASIONALLY, SOME OF THESE FACILITIES WILL HOUSE ACTIVITIES THAT MAY CONSTITUTE "PRIVATE BUSINESS USE", AS DEFINED IN IRC SECTION 141. FOR INSTANCE, STANFORD MAY RENT A SMALL PORTION OF A FACILITY TO A FOR-PROFIT OPERATOR OF CAFETERIAS (PRIMARILY FOR THE CONVENIENCE OF FACULTY, STAFF, STUDENTS AND THEIR GUESTS). IN OTHER SITUATIONS, STANFORD MAY RECEIVE A GENEROUS CORPORATE GIFT TO FUND A PORTION OF A BUILDING AND MAY CHOOSE TO ACKNOWLEDGE SUCH GENEROSITY BY NAMING A CLASSROOM, LIBRARY OR AUDITORIUM IN HONOR OF THE CORPORATE DONOR. IN SUCH CASES, STANFORD ELECTS THE "UNDIVIDED PORTION ALLOCATION METHOD" DESCRIBED IN PROPOSED TREASURY REGULATION SECTION 1.141-D(6), AND THUS ALLOCATES SUCH "PRIVATE BUSINESS USE" FIRST TO THAT PORTION OF THE FACILITY FUNDED BY TAXABLE DEBT, GIFTS OR OTHER UNIVERSITY FUNDS. ACCORDINGLY, STANFORD REPORTS 0% AS THE PERCENTAGE OF FINANCED PROPERTY USED IN PRIVATE BUSINESS USE (PART III, QUESTION 4). IN ADDITION TO THE CONSTRUCTION COST OF BUILDINGS, TAX-EXEMPT DEBT ALSO FUNDED A SIGNIFICANT PORTION OF THE UNIVERSITY'S INFRASTRUCTURE, INCLUDING ROADS AND UNDERGROUND UTILITIES. THE PORTION OF THE FUNDING OF THESE IMPROVEMENTS BY SOURCES OTHER THAN TAX-EXEMPT DEBT AS A PERCENTAGE OF TOTAL FUNDING WAS WELL IN EXCESS OF THE MEASURED AMOUNT OF PRIVATE BUSINESS USE TO TOTAL USE.
SCHEDULE K CONTINUED	ACCORDINGLY, THE AMOUNTS REPORTED ON PART III, LINES 4 AND 5, FOR THE PERCENTAGE OF FINANCED PROPERTY USED IN PRIVATE BUSINESS USE BY OTHER ENTITIES AND AS A RESULT OF AN UNRELATED TRADE OR BUSINESS ACTIVITY, RESPECTIVELY, ARE ZERO.
BOND ISSUANCE COSTS (BIC) AS A PERCENTAGE OF THE TOTAL PROCEEDS BY	BOND ISSUE ARE: ISSUE: BIC% CEFA CP 0.0000% CEFA SERIES S 0.5476% CEFA SERIES T-1 0.4314% CEFA SERIES T-5 0.0028% CEFA SERIES U-1 0.6483% CEFA SERIES U-2 0.5773% CEFA SERIES U-3 0.3551% CEFA SERIES U-4 0.3625% CEFA SERIES U-5 0.0015% CEFA SERIES U-6 0.0000% FORM 990, SCHEDULE K, PART IV FORM 8038-T: DURING THE PERIODS SINCE THESE BONDS WERE ISSUED, THE INTEREST COST ON THE BONDS HAS EXCEEDED THE INVESTMENT RETURN ON ANY UNSPENT PROCEEDS. ACCORDINGLY, NO FORM 8038-T HAS BEEN ISSUED. FORM 990, SCHEDULE K, PART IV, LINE 2(C) REBATE CALCULATIONS B. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY SERIES HAD A REBATE CALCULATION PERFORMED ON DECEMBER 3, 2007. C. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY SERIES T-1 AND T-3 HAD A REBATE CALCULATION PERFORMED ON JULY 21, 2010. D. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY SERIES U-1 HAD A REBATE CALCULATION PERFORMED ON JUNE 21, 2013.

Schedule K (Form 990) 2014

Additional Data

Software ID:
Software Version:

- TIN:

Schedule L
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Transactions with Interested Persons

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

Information about Schedule L (Form 990 or 990-EZ) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization

THE BOARD OF TRUSTEES OF THE LELAND STANFORD
JUNIOR UNIVERSITY

Employer identification number

94-1156365

Part I

Excess Benefit Transactions (section 501(c)(3), section 501(c)(4), and 501(c)(29) 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	(c) Description of transaction	(d) Corrected?
1(a) Name of disqualified person	(c) Description of transaction	Yes	No

Enter the amount of tax incurred by organization managers or disqualified persons during the year under section 4958. ........................... Bullet Image

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?
(a) Name of interested person	(b) Relationship with organization	(c) Purpose of loan	To	From	(e)Original principal amount	(f)Balance due	Yes	No	Yes	No	Yes	No
(1) JOHN ETCHEMENDY	OFFICER	HOUSING		X	1,710,000	1,710,000		No	Yes		Yes
(2) RICHARD SALLER	KEY EMPLOYEE	HOUSING		X	300,000	150,000		No	Yes		Yes
(3) RICHARD SALLER	KEY EMPLOYEE	HOUSING		X	300,000	60,000		No	Yes		Yes
(4) RICHARD SALLER	KEY EMPLOYEE	HOUSING		X	25,000	25,000		No	Yes		Yes
(5) MARTIN SHELL	OFFICER	HOUSING		X	1,000,000	850,000		No	Yes		Yes
(6) LLOYD MINOR	KEY EMPLOYEE	HOUSING		X	1,695,000	1,657,013		No	Yes		Yes
(7) LLOYD MINOR	KEY EMPLOYEE	HOUSING		X	700,000	700,000		No	Yes		Yes
(8) LLOYD MINOR	KEY EMPLOYEE	HOUSING		X	1,150,000	1,150,000		No	Yes		Yes
(9) LLOYD MINOR	KEY EMPLOYEE	HOUSING		X	780,534	780,534		No	Yes		Yes
(10) LLOYD MINOR	KEY EMPLOYEE	HOUSING		X	719,466	719,466		No	Yes		Yes
Total ...... $						7,802,013

Part III

Grants or Assistance Benefiting 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) 2014

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?
(a) Name of interested person		(c) Amount of transaction	(d) Description of transaction	Yes	No
(1) JEANNE MARIE DAVILA	SEE PART V	187,105	COMPENSATION		No
(2) THOMAS BYERS	SEE PART V	253,221	COMPENSATION		No
(3) BETH MCLELLAN	SEE PART V	86,852	COMPENSATION		No

Part V

Supplemental Information
Provide additional information for responses to questions on Schedule L (see instructions).

Return Reference	Explanation
SCHEDULE L, PART II	LOANS TO/FROM INTERESTED PERSONS: EACH LOAN TO AN INTERESTED PERSON IS MADE FROM STANFORD TO THE INDIVIDUAL (COLUMN D). NONE OF THE LOANS IS IN DEFAULT (COLUMN G). ALL LOANS HAVE BEEN APPROVED BY THE BOARD OF TRUSTEES (COLUMN H) AND FOR EACH LOAN ISSUED, THERE EXISTS A WRITTEN AGREEMENT BETWEEN STANFORD AND THE BORROWER (COLUMN I). MORTGAGE TERMS GOVERN THE CALCULATION AND PAYMENT OF INTEREST WHICH APPROXIMATE MARKET RATES. PURSUANT TO PROGRAMS INTENDED TO FACILITATE HOUSING FOR EMPLOYEES, THE UNIVERSITY HOLDS MORTGAGES AND LEASEHOLDS ON CERTAIN HOUSES ON OR NEAR CAMPUS OWNED OR OCCUPIED BY EMPLOYEES AND THEIR FAMILIES, WHICH, FROM TIME TO TIME, COULD INCLUDE OFFICERS AND KEY EMPLOYEES OF THE UNIVERSITY.
SCHEDULE L, PART III	GRANTS TO INTERESTED PERSONS: THESE DISCLOSURES DO NOT INCLUDE TRANSACTIONS IN WHICH AN INTERESTED PERSON PAYS TUITION, ROOM AND/OR BOARD COSTS OR RECEIVES FINANCIAL AID, WORK/STUDY ASSISTANCE, AND/OR RESEARCH GRANTS FOR A STUDENT AT THE UNIVERSITY, AS SUCH AMOUNTS WOULD BE IN ACCORDANCE WITH FINANCIAL AID OR GRANT PRACTICES AND ARE PROTECTED UNDER FERPA.
SCHEDULE L, PART IV	BUSINESS TRANSACTIONS WITH INTERESTED PERSONS: CERTAIN STANFORD EMPLOYEES HAVE A FAMILY RELATIONSHIP WITH A LISTED PERSON. IN THE CASES REPORTED BELOW, SUCH EMPLOYEES HAD BEEN EMPLOYED BY STANFORD PRIOR TO APPOINTMENT OF THE LISTED PERSON TO THE POSITION OF OFFICER OR TRUSTEE AND, IN NO CASE, WAS THE LISTED PERSON RESPONSIBLE FOR THE COMPENSATION, DIRECTION, EVALUATION OR CONTINUED EMPLOYMENT OF THE RELATED EMPLOYEE. (A) NAME OF THE INTERESTED PERSON: JEANNE MARIE DAVILA (B) RELATIONSHIP BETWEEN THE INTERESTED PERSON AND THE ORGANIZATION: SISTER OF PROVOST JOHN ETCHEMENDY (C) AMOUNT OF TRANSACTION: $158,800 IN CASH COMPENSATION AND $28,305 IN BENEFITS DURING FISCAL YEAR 2015 EARNED IN HER FULL TIME STAFF POSITION AT STANFORD. (D) DESCRIPTION OF TRANSACTION: COMPENSATION (E) SHARING OF ORGANIZATION'S REVENUES? NO (A) NAME OF THE INTERESTED PERSON: THOMAS BYERS (B) RELATIONSHIP BETWEEN THE INTERESTED PERSON AND THE ORGANIZATION: BROTHER OF TRUSTEE, BROOK BYERS (C) AMOUNT OF TRANSACTION: $218,050 IN CASH COMPENSATION AND $35,171 IN BENEFITS DURING FISCAL YEAR 2015 EARNED IN HIS FULL TIME FACULTY POSITION AT STANFORD. (D) DESCRIPTION OF TRANSACTION: COMPENSATION (E) SHARING OF ORGANIZATION'S REVENUES? NO (A) NAME OF THE INTERESTED PERSON: BETH MCLELLAN (B) RELATIONSHIP BETWEEN THE INTERESTED PERSON AND THE ORGANIZATION: SPOUSE OF TRUSTEE, FRED ALVAREZ (C) AMOUNT OF TRANSACTION: $73,662 IN CASH COMPENSATION AND $13,190 IN BENEFITS DURING FISCAL YEAR 2015 EARNED IN HER FULL TIME STAFF POSITION AT STANFORD. (D) DESCRIPTION OF TRANSACTION: COMPENSATION (E) SHARING OF ORGANIZATION'S REVENUES? NO

Schedule L (Form 990 or 990-EZ) 2014

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE M
(Form 990)

Department of the Treasury

Internal Revenue Service

Noncash Contributions

Complete 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 image

Information about Schedule M (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization

THE BOARD OF TRUSTEES OF THE LELAND STANFORD
JUNIOR UNIVERSITY

Employer identification number

94-1156365

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	69		N/A
2 Art—Historical treasures .
3 Art—Fractional interests ..
4 Books and publications ..
5 Clothing and household goods .......
6 Cars and other vehicles ..
7 Boats and planes ....
8 Intellectual property ...
9 Securities—Publicly traded .	X	2,220	252,799,266	FAIR MARKET VALUE
10 Securities—Closely held stock .	X	10	1,999,089	FAIR VALUE
11 Securities—Partnership, LLC, or trust interests ....	X	96	8,149,684	FAIR VALUE
12 Securities—Miscellaneous ..
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 ( MRI SYSTEM )	X	1	1,550,000	FAIR MARKET VALUE
26 Other ( MUSICAL ITEMS & INSTRUMENTS )	X	8	16,808	FAIR MARKET VALUE
27 Other ( COMPUTERS AND ACCESSORIES )	X	7	151,588	FAIR MARKET VALUE
28 Other ( OTHER EQUIPMENT )	X	18	432,632	FAIR MARKET VALUE

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 ...

Yes

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

If "Yes," describe the arrangement in Part II.

Does the organization have a gift acceptance policy that requires the review of any non-standard contributions?

Yes

32a

Does the organization hire or use third parties or related organizations to solicit, process, or sell noncash

contributions? ..........................

32a

Yes

If "Yes," describe in Part II.

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) (2014)

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

SCHEDULE M, PART I

IN COLUMN B, STANFORD IS REPORTING THE NUMBER OF CONTRIBUTIONS. LINE 32A, USE OF THIRD-PARTY - STANFORD MAY, FROM TIME TO TIME, ENGAGE THIRD PARTIES (E.G., REAL ESTATE BROKERS) TO SELL CERTAIN NON-CASH CONTRIBUTIONS. LINE 33, NON-CASH CONTRIBUTIONS - WORKS OF ART, HISTORICAL TREASURES, LITERARY WORKS, ARTIFACTS, AND THE LIKE, WHICH ARE PRESERVED AND PROTECTED FOR EDUCATIONAL, RESEARCH AND PUBLIC EXHIBITION PURPOSES, ARE NOT CAPITALIZED. DONATIONS OF SUCH COLLECTIONS ARE NOT RECORDED FOR FINANCIAL STATEMENT PURPOSES.

Schedule M (Form 990) (2014)

Additional Data

Software ID:
Software Version:

- TIN:

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 990-EZ 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

2014

Open to Public
Inspection

Name of the organization

THE BOARD OF TRUSTEES OF THE LELAND STANFORD
JUNIOR UNIVERSITY

Employer identification number

94-1156365

Return Reference	Explanation
FORM 990, PAGE 1, LINE K	FORM OF ORGANIZATION THE LELAND STANFORD JUNIOR UNIVERSITY WAS FOUNDED BY SENATOR AND MRS. LELAND STANFORD ON NOVEMBER 11, 1885, IN MEMORY OF THEIR ONLY CHILD, LELAND, JR. THE FOUNDING WAS ACCOMPLISHED BY A GRANT OF ENDOWMENT, KNOWN AS THE FOUNDING GRANT, WHICH CONVEYED IN TRUST TO A BOARD OF TRUSTEES CERTAIN PROPERTIES, DIRECTED THAT A UNIVERSITY BE ESTABLISHED AND OUTLINED THE OBJECTIVES AND GOVERNMENT OF THE UNIVERSITY. SUBSEQUENT LEGISLATION IN THE STATE OF CALIFORNIA GRANTED THE UNIVERSITY CORPORATE POWERS EFFECTIVE 1901. ACCORDINGLY, STANFORD HAS ELECTED TO BE TREATED AS A CORPORATION FOR THE PURPOSES OF THE ADMINISTRATION OF FEDERAL AND STATE INCOME TAX LAW. FORM 990, PART I, LINE 6 VOLUNTEERS THERE ARE THOUSANDS OF ALUMNI AND FRIENDS OF STANFORD UNIVERSITY WHO VOLUNTEERED THEIR SERVICES TO STANFORD OVER THE COURSE OF THE YEAR. EXAMPLES OF THE WIDE SPECTRUM OF VOLUNTEER SERVICES INCLUDE SERVING AS A MEMBER OF THE BOARD OF TRUSTEES OF THE UNIVERSITY, SERVING ON A FUNDRAISING COMMITTEE, AND SERVING ON AN ADVISORY BOARD OF AN INSTITUTE. WHILE STANFORD DOES NOT FORMALLY TRACK THE TOTAL NUMBER OF VOLUNTEERS, IT ESTIMATES THAT APPROXIMATELY 11,000 ALUMNI VOLUNTEERED DURING THE TAX YEAR. FORM 990, PARTS I AND III, LINE 1 ORGANIZATION'S MISSION - CONTINUED FROM PART I, LINE 1 & PART III, LINE 1 STANFORD IS INTERNATIONALLY RECOGNIZED FOR THE QUALITY OF ITS TEACHING AND RESEARCH, ITS DISTINGUISHED FACULTY, AND ITS OUTSTANDING STUDENT BODY. IN THE YEARS SINCE ITS FOUNDING IN 1885, STANFORD HAS GROWN TO OVER 2,100 FACULTY MEMBERS AND AN ENROLLMENT OF APPROXIMATELY 7,000 UNDERGRADUATE AND 9,100 GRADUATE STUDENTS. THE OBJECTIVE AND PURPOSES OF STANFORD UNIVERSITY, JANE AND LELAND STANFORD WROTE IN THEIR FOUNDING GRANT IN 1885, ARE "TO QUALIFY ITS STUDENTS FOR PERSONAL SUCCESS, AND DIRECT USEFULNESS IN LIFE; ... TO PROMOTE THE PUBLIC WELFARE BY EXERCISING AN INFLUENCE IN BEHALF OF HUMANITY AND CIVILIZATION, TEACHING THE BLESSINGS OF LIBERTY REGULATED BY LAW, AND INCULCATING LOVE AND REVERENCE FOR THE GREAT PRINCIPLES OF GOVERNMENT AS DERIVED FROM THE INALIENABLE RIGHTS OF MAN TO LIFE, LIBERTY, AND THE PURSUIT OF HAPPINESS."
FORM 990, PART III, LINE 4A	STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS, CONTINUED FROM PAGE 3 (EXPENSES $1,613,004,544 INCLUDING GRANTS OF $41,076,721, REVENUE $751,563,395) INSTRUCTION AND DEPARTMENTAL RESEARCH: INCLUDES THE SALARIES, FRINGE BENEFITS AND SUPPLIES NECESSARY TO TEACH 16,122 STUDENTS, INCLUDING 6,994 UNDERGRADUATE AND 9,128 GRADUATE AND PROFESSIONAL SCHOOL STUDENTS. STANFORD'S 2,153-PERSON FACULTY INCLUDES 20 NOBEL PRIZE WINNERS AND FOUR PULITZER PRIZE WINNERS. STANFORD HAS SEVEN SCHOOLS: BUSINESS, EARTH, ENERGY & ENVIRONMENTAL SCIENCES, EDUCATION, ENGINEERING, HUMANITIES AND SCIENCES, LAW, AND MEDICINE. UNDERGRADUATES CHOOSE AMONG 60 MAJORS AND ARE ENCOURAGED TO LEARN CRITICAL THINKING SKILLS THROUGH RESEARCH. STANFORD STRIVES FOR CLOSE INTERACTION WITH FACULTY TO PREPARE STUDENTS TO BE TOMORROW'S LEADERS.
FORM 990, PART III, LINE 4B	(EXPENSES $1,159,430,326 INCLUDING GRANTS OF $21,789,454, REVENUE "NON PUBLIC" ONLY $178,270,065; AMOUNT EXCLUDES FEDERAL RESEARCH SUPPORT) ORGANIZED RESEARCH: RESEARCH IS INTEGRAL TO THE EDUCATIONAL MISSION OF STANFORD AND INVOLVES FACULTY, GRADUATE STUDENTS, AND UNDERGRADUATES WHO SEEK NEW KNOWLEDGE IN SERVICE TO HUMANITY. STANFORD FACULTY MEMBERS HAVE CONTRIBUTED TO ADVANCEMENTS IN HIGH TECHNOLOGY, INCLUDING THE CREATION OF DIGITAL SUBSCRIBER LINES, IDENTITY-BASED ENCRYPTION, GLOBAL POSITIONING SYSTEMS AND THE REDUCED INSTRUCTION SET COMPUTER, AMONG OTHER DISCOVERIES; DISEASE IDENTIFICATION AND MANAGEMENT, INCLUDING PROGRAMS USED BY MORE THAN 500 ORGANIZATIONS WORLDWIDE CONCERNED WITH CHRONIC HEALTH PROBLEMS SUCH AS ARTHRITIS AND HIV/AIDS; AND GENOME SEQUENCING, INCLUDING DISCOVERIES THAT CREATED THE FIELD OF GENETIC ENGINEERING. TODAY'S STANFORD FACULTY MEMBERS ARE LEADERS IN NEUROSCIENCE, ENERGY, STEM CELL RESEARCH, NANOTECHNOLOGY, BIOENGINEERING, COMPUTING TECHNOLOGY, REFORM OF OUR NATION'S SCHOOLS AND ENVIRONMENTAL SUSTAINABILITY. THROUGH BOTH BASIC AND APPLIED RESEARCH, STANFORD IS COMMITTED TO PROVIDING NEW KNOWLEDGE THAT FUELS OUR NATIONAL ECONOMY AND TO TRAINING GRADUATE STUDENTS WHO WILL BECOME TOMORROW'S TEACHERS AND RESEARCHERS. ENTREPRENEURIAL STANFORD FACULTY MEMBERS ARE KNOWN FOR THEIR ABILITY TO CROSS INTERDISCIPLINARY BOUNDARIES TO CREATE TEAMS OF RESEARCHERS ABLE TO PROVIDE NEW INSIGHTS TO COMPLEX, WORLDWIDE PROBLEMS.
FORM 990, PART III, LINE 4C	(EXPENSES $962,598,778 INCLUDING GRANTS OF $1,105,644, REVENUE $1,005,264,887.) UNIVERSITY AUXILIARY ACTIVITIES: INCLUDES AMONG OTHERS PATIENT CARE, RESIDENTIAL & DINING ENTERPRISES (R&DE), AND INTER-COLLEGIATE ATHLETIC PROGRAMS. STANFORD SCHOOL OF MEDICINE FACULTY MEMBERS ARE HEALTH-CARE PRACTITIONERS AS WELL AS TEACHERS, COMBINING EXPERTISE HONED BY RESEARCH WITH THE MOST ADVANCED TECHNOLOGY TO TREAT PATIENTS AT STANFORD HEALTH CARE AND THE LUCILE PACKARD CHILDREN'S HOSPITAL. STANFORD FACULTY PROVIDE APPROXIMATELY 84 PERCENT OF THE PATIENT CARE AT STANFORD HEALTH CARE AND 96 PERCENT OF THE PEDIATRIC CARE AT LUCILE PACKARD CHILDREN'S HOSPITAL. RESIDENTIAL & DINING ENTERPRISES (R&DE) IS THE STEWARD OF 5 MILLION SQ FT OF PHYSICAL PLANT (APPROXIMATELY 1/3 OF CAMPUS) AND GENERATES REVENUE PRIMARILY THROUGH STUDENT ROOM AND BOARD. R&DE HOUSES 6,470 UNDERGRADUATE STUDENTS (97% OF TOTAL UNDERGRADUATE STUDENTS ELIGIBLE FOR HOUSING, EXCLUDING OVERSEAS) AND 5,650 GRADUATE STUDENTS (62% OF TOTAL GRADUATE STUDENTS ELIGIBLE FOR HOUSING). R&DE COMPLEMENTS STANFORD'S ACADEMIC PROGRAMS WITH A ROBUST RESIDENTIAL LIVING AND LEARNING ENVIRONMENT. THE UNIVERSITY AND R&DE HAVE BEEN INVESTING IN THE RESIDENTIAL EDUCATION PROGRAM TO FOSTER AN ENVIRONMENT OF INTELLECTUAL, EDUCATIONAL, AND COMMUNITY-BUILDING ACTIVITIES IN STUDENT RESIDENCES.
FORM 990, PART III, LINE 4D	OTHER PROGRAM SERVICES (EXPENSES $692,005,267 INCLUDING GRANTS OF $366,709,711, REVENUE $397,196,123) ACADEMIC SUPPORT AND PUBLIC SERVICE $380,297,387 STUDENT FINANCIAL AID $260,615,588 SLAC CONSTRUCTION AND OTHER $51,087,292 TOTAL OTHER PROGRAM SERVICE EXPENSES $692,005,267 ACADEMIC SUPPORT AND PUBLIC SERVICE: STANFORD SUPPORTS 20 LIBRARIES. THE COLLECTIONS OF BOOKS, JOURNALS, SCORES AND PRINTED REFERENCE WORKS COMPRISE MORE THAN 9.3 MILLION PHYSICAL VOLUMES, 1.5 MILLION E-BOOKS, 2.5 MILLION AUDIOVISUAL MATERIALS, MORE THAN 77,000 SERIALS, THOUSANDS OF OTHER DIGITAL RESOURCES AND NEARLY 6 MILLION MICROFORM HOLDINGS. SPECIAL COLLECTIONS INCLUDE ABOUT 300,000 RARE BOOKS AND MORE THAN 59 MILLION PAGES OF MATERIALS. THE STANFORD UNIVERSITY INFORMATION TECHNOLOGY NETWORK AND INFRASTRUCTURE INCLUDES MORE THAN 250,000 ACTIVE DEVICES WITH ASSIGNED INTERNET PROTOCOL ADDRESSES. STANFORD UNIVERSITY NETWORK TRANSPORTS 40 TERABYTES OF INCOMING DATA AND 30 TERABYTES OF DATA OUTGOING BETWEEN STANFORD AND THE INTERNET EACH DAY. STUDENT SERVICES INCLUDE, AMONG OTHERS, THE DEAN OF STUDENT LIFE OFFICE, THE REGISTRAR, THE ADMISSIONS OFFICE, THE FINANCIAL AID OFFICE, AND THE OFFICE FOR RELIGIOUS LIFE. STUDENT FINANCIAL AID: INCLUDES MERIT AND NEED-BASED SCHOLARSHIPS AND FELLOWSHIPS. SLAC CONSTRUCTION AND OTHER: THE UNIVERSITY MANAGES AND OPERATES THE SLAC NATIONAL ACCELERATOR LABORATORY FOR THE U.S. DEPARTMENT OF ENERGY ("DOE") UNDER A MANAGEMENT AND OPERATING CONTRACT. REVENUES AND EXPENDITURES ARE INCLUDED IN STANFORD'S FINANCIAL STATEMENTS; ASSETS AND LIABILITIES ARE OWNED BY DOE AND THEREFORE CARRIED ON DOE'S BOOKS. ACCORDINGLY, CONSTRUCTION EXPENDITURES ARE RECORDED AS EXPENDITURES HEREIN.
FORM 990 PART IV, LINES 12A AND 12B	HOW THE FINANCIAL STATEMENTS WERE AUDITED STANFORD'S CONSOLIDATED FINANCIAL STATEMENTS AS OF AND FOR THE YEARS ENDED AUGUST 31, 2015 AND AUGUST 31, 2014 WERE AUDITED BY THE ACCOUNTING FIRM OF PRICEWATERHOUSECOOPERS ("PWC"). AS REQUIRED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES, THE UNIVERSITY'S FINANCIAL STATEMENTS ARE PREPARED ON A CONSOLIDATED BASIS AND INCLUDE THE UNIVERSITY ACCOUNTS AND THOSE OF STANFORD HEALTH CARE AND THE LUCILE SALTER PACKARD CHILDREN'S HOSPITAL AT STANFORD ("THE HOSPITALS"). THE FINANCIAL STATEMENTS DISCLOSE SEPARATELY THE ACCOUNTS OF THE UNIVERSITY FROM THOSE OF THE HOSPITALS. UNDER SEPARATE COVER, THE HOSPITALS PROVIDE AUDITED FINANCIAL STATEMENTS OF THEIR OWN ACCOUNTS. PWC UTILIZES SEPARATE AUDIT TEAMS TO CONDUCT THE AUDIT ENGAGEMENTS OF STANFORD AND THE HOSPITALS. EACH AUDIT IS CONDUCTED BY QUALIFIED PROFESSIONAL ACCOUNTANTS WITH AUDIT PLANS DESIGNED FROM THE SEPARATE ACCOUNTS FOR THE RESPECTIVE ENTITIES, IN ACCORDANCE WITH GENERALLY ACCEPTED AUDITING STANDARDS.
FORM 990, PART V, LINE 4B	STANFORD HAS AN INTEREST IN OR SIGNATURE AUTHORITY OVER BANK OR INVESTMENT ACCOUNTS IN THE FOLLOWING COUNTRIES: AUSTRALIA; AUSTRIA; BELGIUM; BERMUDA; BRAZIL; BRITISH VIRGIN ISLANDS; CANADA; CAYMAN ISLANDS; CHANNEL ISLANDS; CHILE; CHINA; CZECH REPUBLIC; DENMARK; FINLAND; FRANCE; GERMANY; GHANA; GIBRALTAR; GREECE; HONG KONG; HUNGARY; INDIA; INDONESIA; IRELAND; ISLE OF MAN; ISRAEL; ITALY; JAPAN; LIECHTENSTEIN; LUXEMBOURG; MALAYSIA; MARSHALL ISLANDS; MAURITIUS; MEXICO; NETHERLANDS; NEW ZEALAND; NORWAY; PHILIPPINES; PORTUGAL; SINGAPORE; SOUTH AFRICA; SOUTH KOREA; SPAIN; SWEDEN; SWITZERLAND; TAIWAN; THAILAND; TURKEY; UNITED KINGDOM.
FORM 990, PART VI, SECTION A, LINE 2	BUSINESS RELATIONSHIPS THE FOLLOWING INDIVIDUALS LISTED ON PART VII HAVE A BUSINESS RELATIONSHIP WITH EACH OTHER: - JOHN HENNESSY AND KAVITARK RAM SHRIRAM ARE BOTH DIRECTORS OF ALPHABET INC. AND GOOGLE INC., WHERE RUTH PORAT SERVES AS CHIEF FINANCIAL OFFICER. - BROOK H. BYERS AND RANDALL LIVINGSTON ARE BOTH DIRECTORS OF PACIFIC BIOSCIENCES, INC. - BROOK H. BYERS IS A DIRECTOR OF ENJOY, WHERE RONALD B. JOHNSON SERVES AS CHIEF EXECUTIVE OFFICER.
FORM 990, PART VI, SECTION B, LINES 11A & B	REVIEW OF THE FORM 990 THE FORM 990 IS PREPARED BY THE UNIVERSITY'S TAX DEPARTMENT IN CONSULTATION WITH THE OFFICE OF GENERAL COUNSEL, PAYROLL AND OTHER UNIVERSITY DEPARTMENTS. THE RETURN IS REVIEWED BY EXTERNAL ACCOUNTANTS, OUTSIDE COUNSEL, AND SENIOR MANAGEMENT INCLUDING THE SENIOR ASSOCIATE VICE PRESIDENT FOR FINANCE. THE RETURN IS THEN DISTRIBUTED TO THE BOARD COMMITTEE ON AUDIT, COMPLIANCE AND RISK FOR THEIR REVIEW IN ADVANCE OF THE COMMITTEE MEETING. THE COMMITTEE IS OFFERED AN OPPORTUNITY TO ASK QUESTIONS BOTH AT THE MEETING AND ANYTIME THEREAFTER. SUBSEQUENT TO THE MEETING, A COMPLETE COPY OF THE FORM 990 IS DISTRIBUTED TO THE FULL BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS.
FORM 990, PART VI, SECTION B, LINE 12C	CONFLICT OF INTEREST MEMBERS OF THE UNIVERSITY'S BOARD OF TRUSTEES ("TRUSTEES"), OFFICERS AND FACULTY MAY, FROM TIME TO TIME, BE ASSOCIATED, EITHER DIRECTLY OR INDIRECTLY, WITH ENTITIES DOING BUSINESS WITH THE UNIVERSITY. THE UNIVERSITY HAS CONFLICT OF INTEREST POLICIES THAT ARE STRICTLY ENFORCED TO ENSURE THAT ALL TRANSACTIONS WITH THESE PARTIES ARE ARM'S LENGTH, AND THERE IS NO FAVORABLE TREATMENT AS A RESULT OF THESE RELATIONSHIPS. CONFLICTS OF INTEREST ARE REGULARLY MONITORED, AND APPLICABLE POLICY IS CONSISTENTLY ENFORCED. UNIVERSITY-WIDE COMPLIANCE INITIATIVES INCLUDE TRAINING AND DOCUMENTATION, REQUIRED ANNUAL DISCLOSURE AND FOLLOW-UP; MANAGEMENT CONTROLS; ENTERPRISE RISK MANAGEMENT; REGULAR INTERNAL AND EXTERNAL AUDITS; WHISTLE-BLOWER PROVISIONS; SUPERVISION; AND REVIEW. PERCEIVED VIOLATIONS WOULD BE INVESTIGATED AND ADDRESSED AS APPROPRIATE THROUGH VARIOUS SANCTIONS, INCLUDING FINANCIAL PENALTIES AND TERMINATION, DEPENDING UPON THE NATURE AND DEGREE OF THE CONFLICT. FOR OFFICERS, THE UNIVERSITY REQUIRES ANNUAL DISCLOSURE OF SIGNIFICANT FINANCIAL INTERESTS IN EMPLOYMENT OR CONSULTING RELATIONSHIPS WITH ENTITIES DOING BUSINESS WITH THE UNIVERSITY. THESE ANNUAL DISCLOSURES COVER BOTH OFFICERS AND THEIR IMMEDIATE FAMILY. WHEN SUCH ASSOCIATIONS EXIST, MEASURES ARE TAKEN TO APPROPRIATELY MANAGE, IN THE BEST INTERESTS OF THE UNIVERSITY, ANY ACTUAL OR PERCEIVED CONFLICT. FACULTY MUST COMPLY WITH THE FACULTY CONFLICT OF INTEREST POLICY, WHICH REQUIRES ANNUAL CERTIFICATION OF COMPLIANCE WITH THE POLICY AND DISCLOSURE OF INTERESTS IN OUTSIDE ENTITIES THAT ARE SPONSORS OF THEIR TEACHING OR RESEARCH OR OTHER TRANSACTIONS WITH THE UNIVERSITY IN WHICH THEY ARE INVOLVED. ALL PERSONAL FINANCIAL INTERESTS RELATED TO STANFORD ACTIVITIES MUST BE REPORTED, REGARDLESS OF DOLLAR AMOUNT. FOR TRUSTEES, THE UNIVERSITY HAS A WRITTEN CONFLICT OF INTEREST POLICY THAT REQUIRES, AMONG OTHER THINGS, THAT NO MEMBER OF THE BOARD OF TRUSTEES IS PERMITTED TO PARTICIPATE IN ANY DECISION RELATING TO AN ENTITY IN WHICH HE OR SHE (OR AN IMMEDIATE FAMILY MEMBER) HAS A MATERIAL FINANCIAL INTEREST. THE CONFLICT OF INTEREST POLICY ALSO PRECLUDES THE UNIVERSITY FROM ENTERING INTO CERTAIN TRANSACTIONS WITH AN ENTITY IN WHICH A TRUSTEE HAS A MATERIAL FINANCIAL INTEREST UNLESS MEASURES ARE TAKEN TO MITIGATE ANY ACTUAL OR PERCEIVED CONFLICT. NAMELY, THE POLICY REQUIRES THAT SUCH TRANSACTIONS ARE CONDUCTED AT ARM'S LENGTH, FOR GOOD AND SUFFICIENT CONSIDERATION, BASED ON TERMS THAT ARE FAIR AND REASONABLE TO AND FOR THE BENEFIT OF THE UNIVERSITY, AND OTHERWISE IN ACCORDANCE WITH SOUND CONFLICT MANAGEMENT PRACTICES. THE CONFLICT OF INTEREST POLICY REQUIRES EACH TRUSTEE TO CERTIFY COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS.
FORM 990, PART VI, SECTION B, LINE 15	COMPENSATION DETERMINATION THE ANNUAL PROCESS FOR DETERMINING COMPENSATION OF BOTH THE TOP MANAGEMENT OFFICIAL (PRESIDENT OF THE UNIVERSITY) AND OF OTHER OFFICERS/KEY EMPLOYEES INCLUDES REVIEW AND APPROVAL BY INDEPENDENT PERSONS, USE OF COMPARABILITY DATA AND CONTEMPORANEOUS DOCUMENTATION OF THE DELIBERATION AND DECISION. IN THE CASE OF THE UNIVERSITY'S PRESIDENT, THE VICE PRESIDENT OF HUMAN RESOURCES, AT A PRELIMINARY MEETING WITH A SUBCOMMITTEE OF THE COMMITTEE ON COMPENSATION, PRESENTS AN ANALYSIS OF CURRENT RELEVANT MARKET DATA OBTAINED FROM AN INDEPENDENT HUMAN RESOURCE CONSULTING FIRM. THE SAME MATERIALS ARE SENT TO THE FULL COMMITTEE. AT THE MEETING OF THE FULL COMMITTEE AND IN THE ABSENCE OF THE PRESIDENT, DISCUSSION OCCURS PRIOR TO A VOTE. MINUTES OF BOTH MEETINGS ARE ON FILE IN THE OFFICE OF THE VICE PRESIDENT OF HUMAN RESOURCES. IN THE CASE OF OTHER OFFICERS/KEY EMPLOYEES, PER GUIDELINES IN THE COMMITTEE'S EXECUTIVE COMPENSATION POLICY AND PROCEDURES DOCUMENT, EACH YEAR THE VICE PRESIDENT OF HUMAN RESOURCES PROVIDES CURRENT RELEVANT MARKET DATA AND THE HISTORICAL PAY INFORMATION RELATING TO THESE PERSONS TO THE PRESIDENT OR TO THE PROVOST BASED ON THE REPORTING STRUCTURE. THE PRESIDENT AND PROVOST PROPOSE CHANGES IN COMPENSATION BASED ON EACH INDIVIDUAL'S PERFORMANCE AND ON THE MARKET DATA. THE COMMITTEE ON COMPENSATION REVIEWS THE RECOMMENDATIONS AND, FOLLOWING DISCUSSION, APPROVES THE RECOMMENDATIONS AS SUBMITTED OR WITH MODIFICATIONS. MINUTES OF THE MEETING ARE ON FILE IN THE OFFICE OF THE VICE PRESIDENT OF HUMAN RESOURCES.
FORM 990, PART VI, SECTION C, LINE 19	STANFORD UNIVERSITY MAKES ITS FOUNDING GRANT, FACULTY AND STAFF CONFLICT OF INTEREST POLICIES, AND FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC ON STANFORD'S WEBSITE, AND UPON REQUEST TO THE OFFICE OF UNIVERSITY COMMUNICATIONS.
FORM 990, PART VII, SECTION A, COLUMN B	HOURS FOR RELATED ORGANIZATIONS IN CONNECTION WITH THEIR POSITIONS AT STANFORD, CERTAIN LISTED INDIVIDUALS MAY, FROM TIME TO TIME, PARTICIPATE IN ACTIVITIES OF A RELATED ORGANIZATION. WHERE THE LISTED INDIVIDUALS ARE TRUSTEES, DIRECTORS, OFFICERS, OR EMPLOYEES OF THE RELATED ORGANIZATION, THE TIME DEVOTED TO THE RELATED ORGANIZATION BY SUCH INDIVIDUALS IS GENERALLY REPORTED AS RELATED ORGANIZATION HOURS IN PART VII, SECTION A, LINE 1A, COLUMN (B), BELOW THE DOTTED LINE. IN ALL OTHER CASES, THE HOURS IN CONNECTION WITH SUCH PARTICIPATION ARE INCLUDED IN THE HOURS REPORTED FOR THE INDIVIDUALS' POSITIONS AT STANFORD UNIVERSITY IN PART VII, SECTION A, LINE 1A, COLUMN (B), ABOVE THE DOTTED LINE.
FORM 990, PART VII, SECTION B	INDEPENDENT CONTRACTORS IN THE PRESENTATION OF THE DATA APPEARING IN FORM 990, PART VII, SECTION B, STANFORD REPORTS DIRECT CASH COMPENSATION PAID TO PROFESSIONAL INDEPENDENT CONTRACTORS. COMMISSIONS, DISCOUNTS, AND MANAGEMENT FEES EMBEDDED IN AND/OR DEDUCTED FROM INVESTMENT RETURNS AND AMOUNTS PROVIDED TO VENTURE CAPITAL, PRIVATE EQUITY, AND HEDGE FUND GENERAL PARTNERS DUE TO THEIR "CARRIED INTEREST" IN PARTNERSHIPS IN WHICH STANFORD PARTICIPATES ARE NOT CONSIDERED IN THIS REPORTING.
FORM 990, PART XI, LINE 9	OTHER CHANGES IN NET ASSETS OR FUND BALANCES CHANGE IN POST RETIREMENT BENEFIT OBLIGATION $(85,091,000) PAYMENTS TO LIVING TRUST BENEFICIARIES (41,969,099) NET HOSPITAL TRANSFERS 89,962,765 CHANGE IN VALUE OF SWAP AGREEMENTS (5,127,152) ------------- $(42,224,486)

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2014

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE R
(Form 990)

Department of the Treasury
Internal Revenue Service

Related Organizations and Unrelated Partnerships

Complete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35b, 36, or 37.
MediumBullet

Attach to Form 990.
MediumBullet

Information about Schedule R (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization

THE BOARD OF TRUSTEES OF THE LELAND STANFORD
JUNIOR UNIVERSITY

Employer identification number

94-1156365

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) STANFORD UNIVERSITY OTL LLC 3145 PORTER DRIVE PALO ALTO,CA94304 94-1156365	TECHNOLOGY	CA	7,078	64,083	STANFORD
(2) SU ACQUISITION LLC 3145 PORTER DRIVE PALO ALTO,CA94304 94-1156365	REAL ESTATE	DE	454,962	2,000,000	STANFORD
(3) SAA SIERRA PROGRAMS LLC 3145 PORTER DRIVE PALO ALTO,CA94304 80-0313657	ALUM RELATION	CA	6,732,889	10,575,165	STANFORD
(4) ANTS AT WORK LLC 3145 PORTER DRIVE PALO ALTO,CA94304 94-1156365	RESEARCH	NM	0	55,000	STANFORD
(5) SHR HOTEL LLC 3145 PORTER DRIVE PALO ALTO,CA94304 41-2277925	REAL ESTATE	CA	51,440,937	8,978,098	STANFORD
(6) SPECIALTY EVENTS LLC 3145 PORTER DRIVE PALO ALTO,CA94304 27-3665473	GEN. BUS. OPS	CA	0	0	STANFORD
(7) ROCKY HILL PROPERTY LLC 3145 PORTER DRIVE PALO ALTO,CA94304 45-4672921	REAL ESTATE	CA	41,896	4,639,615	STANFORD
(8) STANFORD UNIVERSITY GLOBAL LLC 3145 PORTER DRIVE PALO ALTO,CA94304 94-1156365	EDUCATION	CA	0	1,116,749	STANFORD
(9) CARDINAL NEWBURY GP LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305 94-1156365	INVESTMENT	DE	0	0	STANFORD
(10) CARDINAL NEWBURY LP LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305 94-1156365	INVESTMENT	DE	0	2	STANFORD
(11) FAIRFIELD NORTH SEA ENERGY LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305 94-1156365	INVESTMENT	DE	-58,679,495	0	STANFORD
(12) SAND HILL INVESTMENTS GP LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305 41-2262027	INVESTMENT	DE	0	0	STANFORD
(13) SMC DE LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305 94-1156365	INVESTMENT	DE	2,507,091	11,154	STANFORD
(14) ALTIRA TECHNOLOGY FUND IV DIRECT INVEST C/O SMC 635 KNIGHT WAY STANFORD,CA94305 94-1156365	INVESTMENT	DE	-213,511	62,301	STANFORD
(15) SNOWCREEK VII LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305 95-4890334	REAL ESTATE	CA	60,577	6,207,154	STANFORD
(16) GRE PROPERTIES LLC 3145 PORTER DRIVE PALO ALTO,CA94304 94-1156365	REAL ESTATE	DE	0	24,658	STANFORD
(17) GRE PROPERTIES II LLC 3160 PORTER DRIVE PALO ALTO,CA94304 94-1156365	REAL ESTATE	DE	0	5,059	STANFORD
(18) JPS NO 1 LLC 3160 PORTER DRIVE PALO ALTO,CA94304 94-1156365	REAL ESTATE	DE	0	3,935,123	STANFORD
(19) JPS NO 2 LLC 3160 PORTER DRIVE PALO ALTO,CA94304 94-1156365	REAL ESTATE	DE	0	1	STANFORD
(20) GREGORY STREET ACQUISITION LLC 3160 PORTER DRIVE PALO ALTO,CA94304 94-1156365	REAL ESTATE	CO	0	4,371	STANFORD
(21) HP OUTLAWS LLC 3160 PORTER DRIVE SUITE 200 PALO ALTO,CA94304 94-1156365	REAL ESTATE	DE	0	0	STANFORD
(22) 200 GREGORY STREET LLC 3160 PORTER DRIVE SUITE 200 PALO ALTO,CA94304 94-1156365	REAL ESTATE	CO	0	0	STANFORD
(23) CYPRESS MARINA HEIGHTS LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305 95-4887979	INVESTMENTS	CA	0	0	CYPRESS MARI
(24) CYPRESS MARINA PARTNERS LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	CA	0	30,357,089	STANFORD
(25) RED 238 LLC C/O SMC 635 KNIGHT WAY STANFORD,DE94305	INVESTMENTS	CA	0	18,211,761	STANFORD
(26) RED ALPINE LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	DE	0	25,000,000	STANFORD
(27) RED ALVARADO LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	DE	0	21,381,759	STANFORD
(28) RED ARBORETUM LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	DE	0	14,747,651	STANFORD
(29) RED ARDENWOOD LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	DE	0	24,202,527	STANFORD
(30) RED BART LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	DE	0	8,173,902	STANFORD
(31) RED BROADWAY LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	DE	-12	7,728,586	STANFORD
(32) RED CAMINO LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	DE	0	14,140,000	STANFORD
(33) RED DECOTO LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	DE	0	13,107,332	STANFORD
(34) RED DISH LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	DE	0	939,496	STANFORD
(35) RED LOMITA LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	DE	602,068	24,397,932	STANFORD
(36) RED MARINA LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	DE	0	9,663,000	STANFORD
(37) RED MARINER LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	DE	0	57,961,072	STANFORD
(38) RED POPLAR LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	DE	0	60,495,511	STANFORD
(39) RED QUARRY LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	DE	0	3,741,000	STANFORD
(40) RED RECIPE LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	DE	0	0	STANFORD
(41) RED SANDHILL LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	DE	0	5,615,869	STANFORD
(42) RED SKYLINE LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	DE	0	32,366,583	STANFORD
(43) RED VELD LLC C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	DE	0	8,056,182	STANFORD
(44) SAND HILL INVESTMENTS LP C/O SMC 635 KNIGHT WAY STANFORD,CA94305 37-1557441	INVESTMENTS	DE	26,323	55,784,774	SAND HILL GP

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?
(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	Yes	No
(1) STANFORD HEALTH CARE 300 PASTEUR DRIVE MC 5555 STANFORD,CA94305 94-6174066	HEALTHCARE	CA	501(C)(3)	3	STANFORD	Yes
(2) LUCILE SALTER PACKARD CHILDRENS HOSPITAL 725 WELCH ROAD MC 5553 PALO ALTO,CA94304 77-0003859	HEALTHCARE	CA	501(C)(3)	3	STANFORD	Yes
(3) HOSPITAL COMMITTEE FOR THE L-P AREAS 1111 E STANLEY BLVD LIVERMORE,CA94550 94-1429628	HOSPITAL	CA	501(C)(3)	3	SHC	Yes
(4) VALLEYCARE MEDICAL FOUNDATION INC 5655 W LAS POSITAS BLVD 220 PLEASANTON,CA94588 26-2593526	SUPPORT VCHS	CA	501(C)(3)	9	HOSP CMTE LP	Yes
(5) VALLEYCARE SENIOR HOUSING 1111 E STANLEY BLVD LIVERMORE,CA94550 94-3382224	SR. FACILITY	CA	501(C)(3)	11C, III-FI	HOSP CMTE LP	Yes
(6) THE FREIDENRICH SUPPORT FOUNDATION 3145 PORTER DRIVE PALO ALTO,CA94304 30-0519583	SUPPORT	CA	501(C)(3)	11A, I	STANFORD	Yes
(7) SHR HOLDINGS INC 3145 PORTER DRIVE PALO ALTO,CA94304 94-3187167	REAL ESTATE	CA	501(C)(25)	N/A	STANFORD	Yes
(8) SU EMP BEN TRUST POST RETEMPYNT BEN 3145 PORTER DRIVE PALO ALTO,CA94304 94-3246199	BENEFITS	CA	501(C)(9)	N/A	STANFORD	Yes
(9) UNIVERSITY HEALTHCARE ALLIANCE 855 OAK GROVE AVE SUITE 100 MENLO PARK,CA94205 94-3192446	HEALTHCARE	CA	501(C)(3)	3	SHC	Yes
(10) THE DUDLEY E CHAMBERS FOUNDATION JP MORGAN CHASE PO BOX 3038 MILWAUKEE,WI53201 38-6841793	SUPPORT	NY	501(C)(3)	11D, III-O	STANFORD	Yes
(11) STANFORD UNIVERSITY BOOKSTORE BLDG 60 MAIN QUAD NO 105 STANFORD,CA94305 94-0894150	SUPPORT	CA	501(C)(3)	11A, I	STANFORD	Yes
(12) PACKARD CHILDREN'S HEALTH ALLIANCE 725 WELCH ROAD MC5551 PALO ALTO,CA94304 32-0359189	HEALTHCARE	CA	501(C)(3)	3	LPCH	Yes
(13) STANFORD HABITAT CONSERVATION BOARD 3160 PORTER DR STE 200 PALO ALTO,CA94304 46-1882243	CONSERVATION	CA	501(C)(3)	7	STANFORD	Yes
(14) STANFORD FACULTY CLUB PO BOX 7229 STANFORD,CA94309 94-1187089	FAC INTERACT.	CA	501(C)(7)	N/A	STANFORD	Yes
(15) THE HONG KONGSU CHARITABLE TRUST 1401 CAROLINE CENTER 28 PING ROAD,CAUSEWAY HK 98-6078093	SUPPORT	HK	501(C)(3)		STANFORD	Yes
(16) THE STANFORD TRUST 65 HIGH STREET OXFORD OX1 46L UK	SUPPORT	UK	501(C)(3)		STANFORD	Yes
(17) STANFORD PROGRAMME (CAPE TOWN) NPC WAVERLY BUSINESS PARK BUILDING 11 CAPE TOWN,MOWBRAY SF	EDUCATION	SF	501(C)(3)		STANFORD	Yes
(18) STANFORD FEDERAL CREDIT UNION 1860 EMBARCADERO RD PALO ALTO,CA94303 94-1492212	CREDIT UNION	CA	501(C)(1)	N/A	STANFORD	Yes
(19) STANFORD HEALTH CARE ADVANTAGE 3220 BLUME DR STE 260 RICHMOND,CA948065741 46-4071746	HEALTHCARE	CA	501(c)(3)	11A, I	SHC	Yes
(20) STANFORD SCHOOLS CORPORATION 475 POPE STREET MENLO PARK,CA94025 20-2699147	EDUCATIONAL	CA	501(C)(3)	2	STANFORD	Yes
(21) PACIFIC 12 CONFERENCE 1350 TREAT BOULEVARD WALNUT CREEK,CA94597 94-1459048	EDUCATIONAL	CA	501(C)(3)	11A, I	NA		No

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50135Y

Schedule R (Form 990) 2014

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
(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Direct controlling entity		(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No
(1) ATWATER 12 LP 2100 ROSS AVE STE 1600 DALLAS,TX75201 75-2944481	INVESTMENTS	DE	STANFORD	EXCLUDED	547,000	2,098		No	0		No	70.000 %
(2) AVENUE ASIA CAPITAL PARTNERS LP 399 PARK AVE 6TH FL NEW YORK,NY10022 01-0553224	INVESTMENTS	DE	STANFORD	EXCLUDED	-770	0		No	0		No	0 %
(3) JER R E QUALIFIED PARTNERS EUROPE LP 7950 JONES BRANCH DR STE 220 MCLEAN,VA22107 54-2029560	INVESTMENTS	DE	STANFORD	UNRELATED	-13,678	0		No	-3,067		No	99.000 %
(4) PALO ALTO LP 13 CASTLE STREET ST. HELIER XC JE4 9WG JE	INVESTMENTS	JE	STANFORD	EXCLUDED	22,523,770	13,208,932		No	0		No	98.950 %
(5) SANDPIPER FUND LP 2000 MCKINNEY AVE STE 2125 DALLAS,TX75201 26-0341626	INVESTMENTS	TX	STANFORD	EXCLUDED	0	92,611,931		No	0		No	99.000 %
(6) SAROFIM MULTIFAMILY PARTNERS LP 8115 PRESTON RD STE 400 DALLAS,TX75225 20-1929002	RE DEVELOPMENT	DE	STANFORD	EXCLUDED	5,578,125	969,965		No	0		No	63.750 %
(7) SCP REAL ASSETS FUND (A) LP 450 PARK AVE 23RD FL NEW YORK,NY10022 20-3949682	INVESTMENTS	DE	STANFORD	UNRELATED	0	6,948,595		No	780,120		No	62.000 %
(8) FORTRESS IW COINVESTMENT (FUND B) LP 1345 AVE OF THE AMERICAS 23RD FL NEW YORK,NY10105 98-0509639	INVESTMENTS	CJ	STANFORD	EXCLUDED	0	1		No	0		No	71.640 %
(9) STANFORD PET-CT LLC 300 PASTEUR DRIVE M/C 5555 STANFORD,CA94305 61-1423414	MED. DIAGNOST	CA	SHC	RELATED	5,575,102	10,137,717			0			50.000 %
(10) CEE EQUITY HOLDINGS LP ELIZABETH HOUSE 9 CASTLE ST ST. HELIER,,JEJE4 2QP JE	INVESTMENTS	JE	STANFORD	EXCLUDED	6,996,511	293,890		No	0		No	99.900 %
(11) LSF V DHB HOLDINGS LP 2711 N HASKELL AVE STE 1700 DALLAS,TX75204 27-2858604	INVESTMENTS	DE	STANFORD	EXCLUDED	0	107,555,199		No	0		No	61.000 %
(12) SIC SNOWCREEK VIII LLC 635 KNIGHT WAY STANFORD,CA94305 27-5431605	RE DEVELOPMENT	CA	STANFORD	UNRELATED	-288,926	14,859,589		No	-348,958		No	99.870 %
(13) SUMIT HOLDING INTERNATIONAL LLC 1400 PAGE MILL ROAD MC5713 PALO ALTO,CA94304 26-3934706	HOLDING COMPANY	DE	SHC		0	0		No	0		No	0 %
(14) ARCOLA VENTURE LLC C/O STANFORD MGMT CO 635 KNIGHT W STANFORD,CA943057297 37-1689632	RE DEVELOPMENT	DE	STANFORD	UNRELATED	0	38,984,074		No	-1,486,528		No	90.740 %
(15) BLACKSTONE REP VII TE 7-NQ LP C/O THE BLACKSTONE GROUP 345 PARK NEW YORK,NY10154 90-0878802	INVESTMENTS	DE	STANFORD	UNRELATED	2,454,551	72,707,515		No	769,138		No	51.000 %
(16) OUTLAWS CASINO LTD 3160 PORTER DR PALO ALTO,CA94304 84-1457498	HOLDING COMPANY	CO	HP OUTLAWS LLC		0	0			0	Yes		80.000 %
(17) STANFORD EMANUEL RAD ONCOLOGY CENTER 825 DELBON AVE TURLOCK,CA95382 20-8885091	RADIOLOGY	CA	SHC		0	0			0			0 %
(18) ARCOLA RESIDENTIAL VENTURE LLC 635 KNIGHT WAY STANFORD,CA943057297 90-0818278	REAL ESTATE	CA	ARCOLA RESIDENT		4,431,863	28,671,593		No	0		No	92.960 %
(19) STANFORD-STARTX FUND LLC 3145 PORTER DRIVE PALO ALTO,CA94304 46-4297719	INVESTMENTS	DE	STANFORD	EXCLUDED	618,392	34,608,267		No	0	Yes		66.670 %
(20) CLAIRVUE CAPITAL PARTNERS II-TE 1 LP 150 CALIFORNIA STREET STE 850 SAN FRANCISCO,CA94111 80-0909516	INVESTMENTS	DE	STANFORD	EXCLUDED	2,109,477	9,030,342		No	0		No	98.640 %
(21) CLAIRVUE CAPITAL PARTNERS II-TE 2 LP 150 CALIFORNIA STREET STE 850 SAN FRANCISCO,CA94111 80-0909556	INVESTMENTS	DE	STANFORD	EXCLUDED	430,300	1,822,366		No	0		No	66.660 %
(22) KEB INVESTORS II LP WASHINGTON MALL STE 304 7 REID ST HAMILTON HM 11 BD 94-1156365	INVESTMENTS	BD	STANFORD	EXCLUDED	0	-431,212		No	0		No	64.000 %
(23) SEQUOIA MFM OPERATING COMPANY LLC 770 WELCH ROAD LPCH- ADMIN MC5551 PALO ALTO,CA94304 47-5060529	MFM PROGRAM	CA	LPCH	EXCLUDED	0	0		No	0		No	0 %
(24) SP SMC PARTNERS LLC 2711 CENTERVILLE RD STE 400 WILMINGTON,DE19808	INVESTMENTS	DE	STANFORD	EXCLUDED	276,371	23,695,118		No	0		No	99.900 %

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?
(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		Yes	No
(1) STANFORD SGGS EUROPE INC UGLAND HOUSE S CHURCH ST PO BOX 309GT, GEORGE TOWN CJ 13-1684331	INVESTMENTS	CJ	STANFORD	C CORP	4,926,785	19,179,562	100.000 %	Yes
(2) BLACK RIVER EMEA INVESTORS FUND LTD UGLAND HOUSE S CHURCH ST GEORGE TOWN CJ 98-0428006	INVESTMENTS	CJ	STANFORD	C CORP	12,046,613	113,660,481	92.500 %	Yes
(3) EAST SAIL C/O INTL FS INC IFS COURT TWENTYEIGHT, CYBERCITY, EBENE MP	INVESTMENTS	MP	STANFORD	C CORP	-74,150	23,918	100.000 %	Yes
(4) GAVEA INVESTMENT FUND II-C LP PO BOX 896GT HARBOUR CENTRE GEORGE TOWN,CAYMAN ISLANDS CJ 98-0537952	INVESTMENTS	CJ	STANFORD	C CORP	2,779,317	10,567,516	53.000 %	Yes
(5) LS ALBERTA III LP C/O JE ROBERT COS 1650 TYSON BLVD MCLEAN,VA22102 98-0493425	INVESTMENTS	CA	STANFORD	C CORP	1,567	6,643,908	100.000 %	Yes
(6) CLAT (15)	CHARITABLE TR	CA	STANFORD	TRUST	0	0	0 %
(7) CRT (536)	CHARITABLE TR	CA	STANFORD	TRUST	0	0	0 %
(8) OTHER (7)	CHARITABLE TR	CA	STANFORD	TRUST	0	0	0 %
(9) PIF (77)	CHARITABLE TR	CA	STANFORD	TRUST	0	0	0 %
(10) ALPINE CHALET INC PO BOX 9988 SOUTH LAKE TAHOE,CA96158 94-1556099	SKI LODGE	CA	SAA SIERRA PROG	C CORP	529,041	327,109	100.000 %	Yes
(11) STANFORD (BEIJING) CNSLTNG CO LTD (WFOE) 5275TH FLBLDG CACADEMY SOUTH RD HAIDAN DISTRICT,BEIJING CH	EDUCATION	CH	SU GLOBAL LLC	C CORP	1,012,155	439,484	100.000 %	Yes
(12) STANFORD UNIV MED NETWORK RISK AUTHORITY 1400 PAGE MILL RD MSC 5713 PALO ALTO,CA94304 46-1132002	RISK MGMT CON	CA	SUMIT HLDG INT	C CORP	0	0	0 %	Yes
(13) PROFESSIONAL EXCHANGE ASSURANCE COMPANY 201 MERCHANT STREET SUITE 2400 HONOLULU,HI96813 90-0897686	INSURANCE	HI	UHA	C CORP	0	0	0 %	Yes
(14) ARCOLA RES DEVELOPMENT CORP C/O SMC 635 KNIGHT WAY STANFORD,CA943057297 80-0804754	INVESTMENT	DE	STANFORD	C CORP	4,673,434	15,128,297	100.000 %	Yes
(15) BREP VII ALBERTA FEEDER(OFFSHORE)TE7 LP C/O THE BLACKSTONE GROUP 345 PARK NEW YORK,NY10154 98-1066351	INVESTMENTS	CA	STANFORD	C CORP	138,365	7,448,783	51.720 %	Yes
(16) BREP VII ALBERTA FEEDER(OFFSHORE)TE7NQLP C/O THE BLACKSTONE GROUP 345 PARK NEW YORK,NY10154 98-1066355	INVESTMENTS	CA	STANFORD	C CORP	101,998	12,125,346	51.720 %	Yes
(17) WEST FACE ALTERNATIVE CREDIT CAYMAN LP PO BOX 10008 WILLOW HOUSE GRAND CAYMAN,CAYMAN ISLANDSKY1-1001 CJ 98-1140761	INVESTMENTS	CJ	STANFORD	C CORP	1,896,397	20,214,312	98.770 %	Yes
(18) MIDPOINT TECHNOLOGY PARK OWNERS ASSOC 3145 PORTER DRIVE PALO ALTO,CA94304 94-3287254	REAL ESTATE	CA	STANFORD	C CORP	0	0	98.800 %	Yes
(19) BIENVILLE ARGENTINA OPPS OFFSHORE FUND 405 LEXINGTON AVE 34TH FLOOR NEW YORK,NY10174	INVESTMENTS	CJ	STANFORD	C CORP	0	74,334,770	91.910 %	Yes
(20) KAIZEN FUND 1 NORTH BRIDGE RD 6-8 SINGAPORE,SINGAPORE179094 SN	INVESTMENTS	CJ	STANFORD	C CORP	0	392,290,595	85.450 %	Yes
(21) AFFINITY MEDICAL SOLUTIONS INC 1221 BROADWAY 3RD FLOOR OAKLAND,CA94612 20-3134011	HEALTHCARE	DE	SHC	C CORP	0	0	0 %	Yes
(22) BISHOP ROCK OPPORTUNITY OFFSHORE FUND C/O SMC 635 KNIGHT WAY STANFORD,CA94305	INVESTMENTS	CJ	STANFORD	C CORP		49,131,955	52.100 %	Yes

Schedule R (Form 990) 2014

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

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 . . . . . . . . . . . . . . . . . . . . . . .

Yes

b Gift, grant, or capital contribution to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

c Gift, grant, or capital contribution from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

d Loans or loan guarantees to or for related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

e Loans or loan guarantees by related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

f Dividends from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

g Sale of assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

h Purchase of assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

i Exchange of assets with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

j Lease of facilities, equipment, or other assets to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

k Lease of facilities, equipment, or other assets from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

l Performance of services or membership or fundraising solicitations for related organization(s) . . . . . . . . . . . . . . . . . . . .

Yes

m Performance of services or membership or fundraising solicitations by related organization(s) . . . . . . . . . . . . . . . . . . . .

Yes

n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) . . . . . . . . . . . . . . . . . . . . .

Yes

o Sharing of paid employees with related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

p Reimbursement paid to related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

q Reimbursement paid by related organization(s) for expenses . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

r Other transfer of cash or property to related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

s Other transfer of cash or property from related organization(s) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

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) CEE EQUITY HOLDINGS LP	S	10,758,968	BANK RECORDS
(2) ATWATER 12 LP	S	22,982,517	BANK RECORDS
(3) BIENVILLE ARGENTINA OPPORTUNITIES OFFSHORE FU	B	75,000,000	BANK RECORDS
(4) BLACKSTONE REAL ESTATE PARTNERS VIITE7 LP	B	11,993,372	BANK RECORDS
(5) BLACKSTONE REAL ESTATE PARTNERS VIITE7 LP	B	7,713,507	BANK RECORDS
(6) BLACKSTONE REAL ESTATE PARTNERS VIITE7 LP	S	13,850,745	BANK RECORDS
(7) BLACKSTONE REAL ESTATE PARTNERS VIITE7 LP	S	12,591,604	BANK RECORDS
(8) BREP VII ALBERTA FEEDER (OFFSHORE) TE 7 NQ LP	B	2,725,367	BANK RECORDS
(9) BREP VII ALBERTA FEEDER (OFFSHORE) TE 7 NQ LP	S	951,187	BANK RECORDS
(10) BREP VII ALBERTA FEEDER OFFSHORE TE 7 LP	B	1,554,498	BANK RECORDS
(11) BREP VII ALBERTA FEEDER OFFSHORE TE 7 LP	S	307,954	BANK RECORDS
(12) CLAIRVUE CAPITAL PARTNERS II - TE 1 AND TE 2	B	301,295	BANK RECORDS
(13) CLAIRVUE CAPITAL PARTNERS II - TE 1 AND TE 2	S	11,506,889	BANK RECORDS
(14) EAST SAIL PVT LTD	B	11,320,525	BANK RECORDS
(15) GAVEA INVESTMENT FUND II C LP	S	2,779,317	BANK RECORDS
(16) KAIZEN FUND	B	400,000,000	BANK RECORDS
(17) LS ALBERTA III LP	S	4,858,902	BANK RECORDS
(18) LSF V DHB HOLDINGS LP	S	31,926,416	BANK RECORDS
(19) SANDPIPER FUND LP	B	60,000,000	BANK RECORDS
(20) SAROFIM MULTIFAMILY PARTNERS LP	S	5,578,125	BANK RECORDS
(21) SP SMC PARTNERS LLC	B	23,518,732	BANK RECORDS
(22) SP SMC PARTNERS LLC	S	398,925	BANK RECORDS
(23) STANFORD SGGS EUROPE INC	S	414,824	BANK RECORDS
(24) STANFORD SGGS EUROPE INC	S	4,511,961	BANK RECORDS
(25) SCP REAL ASSETS FUND (A) LP	B	58,610	BANK RECORDS
(26) SCP REAL ASSETS FUND (A) LP	S	1,649,708	BANK RECORDS
(27) WEST FACE ALTERNATIVE CREDIT CAYMAN LP	B	18,278,047	BANK RECORDS
(28) WEST FACE ALTERNATIVE CREDIT CAYMAN LP	S	2,875,138	BANK RECORDS
(29) LUCILE SALTER PACKARD CHILDRENS HOSPITAL	J	1,687,520	BOOK
(30) LUCILE SALTER PACKARD CHILDRENS HOSPITAL	K	907,201	BOOK
(31) LUCILE SALTER PACKARD CHILDRENS HOSPITAL	L	214,486,262	BOOK
(32) LUCILE SALTER PACKARD CHILDRENS HOSPITAL	M	2,305,464	BOOK
(33) LUCILE SALTER PACKARD CHILDRENS HOSPITAL	N	961,581	BOOK
(34) LUCILE SALTER PACKARD CHILDRENS HOSPITAL	R	30,000	BOOK
(35) LUCILE SALTER PACKARD CHILDRENS HOSPITAL	S	23,504,707	BOOK
(36) STANFORD HEALTH CARE	J	5,300,037	BOOK
(37) STANFORD HEALTH CARE	K	6,830,026	BOOK
(38) STANFORD HEALTH CARE	L	627,640,267	BOOK
(39) STANFORD HEALTH CARE	M	32,150,000	BOOK
(40) STANFORD HEALTH CARE	N	2,292,346	BOOK
(41) STANFORD HEALTH CARE	R	4,043,284	BOOK
(42) STANFORD HEALTH CARE	S	66,458,058	BOOK
(43) ALPINE CHALET INC	A	6,421	BOOK
(44) PACKARD CHILDREN'S HEALTH ALLIANCE	Q	298,180	BOOK
(45) STANFORD PET-CT LLC	L	2,214,411	BOOK
(46) STANFORD PET-CT LLC	S	5,575,102	BOOK
(47) STANFORD UNIVERSITY BOOKSTORE	A	119,249	BOOK
(48) THE DUDLEY E CHAMBERS FOUNDATION	C	2,983,127	BOOK
(49) THE HONG KONGSTANFORD UNIVERSITY CHARITABLE	C	2,195,244	BOOK
(50) THE STANFORD TRUST	C	75,000	BANK RECORDS
(51) UNIVERSITY HEALTHCARE ALLIANCE	L	305,821	BOOK
(52) STANFORD FACULTY CLUB	B	377,858	BOOK
(53) STANFORD FACULTY CLUB	Q	221,767	BOOK
(54) STANFORD SCHOOLS CORPORATION	B	949,000	BOOK
(55) THE FREIDENRICH SUPPORT FOUNDATION	C	3,272,500	BOOK
(56) STANFORD (BEIJING) CONSULTING CO LTD (WFOE)	M	835,419	BOOK
(57) SHR HOLDINGS INC	C	9,389,120	BOOK
(58) SHR HOLDINGS INC	Q	1,779,763	BOOK
(59) SHR HOLDINGS INC	R	17,283	BOOK
(60) STANFORD FEDERAL CREDIT UNION	A	188,298	BOOK
(61) MIDPOINT TECHNOLOGY PARK OWNERS ASSOCIATION	M	313,056	BOOK
(62) MIDPOINT TECHNOLOGY PARK OWNERS ASSOCIATION	P	370,150	BOOK
(63) STANFORD UNIVERSITY EMPLOYEE BENEFITS TRUST	R	16,366,020	BOOK
(64) STANFORD FEDERAL CREDIT UNION	L	196,831	BOOK
(65) STANFORD PROGRAMME(CAPE TOWN) NPC	R	703,812	BOOK
(66) ARCOLA RESIDENTIAL DEVELOPMENT CORPORATION	A	689,530	BOOK
(67) STANFORD EMANUEL RAD ONCOLOGY CENTER	L	339,885	BOOK

Schedule R (Form 990) 2014

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)	(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?
(a) Name, address, and EIN of entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	Yes	No	(f) Share of total income	(g) Share of end-of-year assets	Yes	No	(i) Code V-UBI amount in box 20 of Schedule K-1 (Form 1065)	Yes	No

Schedule R (Form 990) 2014

Page 5

Part VII

Supplemental Information

Provide additional information for responses to questions on Schedule R (see instructions).

Return Reference

Explanation

SCHEDULE R, PART IV, LINE (6)

CHARITABLE LEAD ANNUITY TRUSTS ARE PRINCIPALLY DOMICILED IN CALIFORNIA. SCHEDULE R, PART IV, LINE (7) CHARITABLE REMAINDER TRUSTS ARE PRINCIPALLY DOMICILED IN CALIFORNIA. SCHEDULE R, PART IV, LINE (1) OTHER TRUSTS ARE PRINCIPALLY DOMICILED IN CALIFORNIA. SCHEDULE R, PART IV, LINE (2) POOLED INCOME FUNDS ARE PRINCIPALLY DOMICILED IN CALIFORNIA. SCHEDULE R, PART V, LINE 2 AMOUNTS REPORTED FOR STANFORD UNIVERSITY BOOK STORE WERE DETERMINED USING STANFORD UNIVERSITY BOOK STORE'S BOOKS, WHICH WERE PREPARED ON A FISCAL YEAR ENDING JUNE 2015.

Schedule R (Form 990) 2014

Additional Data

Software ID:
Software Version:

1	Briefly describe the organization’s mission or most significant activities: STANFORD UNIVERSITY IS ONE OF A SELECT GROUP OF AMERICAN UNIVERSITIES THAT HAVE ACHIEVED EMINENCE IN BOTH UNDERGRADUATE AND GRADUATE EDUCATION AND RESEARCH - CONT'D SCH O.
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	38
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	35
5	Total number of individuals employed in calendar year 2014 (Part V, line 2a) ......	5	35,834
6	Total number of volunteers (estimate if necessary) .............	6	11,000
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	117,106,594
b	Net unrelated business taxable income from Form 990-T, line 34 .........	7b

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	1,821,722,630	1,969,404,372
9	Program service revenue (Part VIII, line 2g) .........	2,201,349,358	2,332,294,470
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	1,579,276,073	1,612,622,067
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	114,675,185	121,084,211
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)...................	5,717,023,246	6,035,405,120
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	413,338,102	430,681,530
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)	2,659,609,408	2,848,707,999
16a	Professional fundraising fees (Part IX, column (A), line 11e).....	763,836	731,997
b	Total fundraising expenses (Part IX, column (D), line 25) 91,587,238
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	1,567,849,260	1,770,805,789
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	4,641,560,606	5,050,927,315
19	Revenue less expenses. Subtract line 18 from line 12.......	1,075,462,640	984,477,805
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	35,227,473,556	36,213,882,456
21	Total liabilities (Part X, line 26).............	6,006,332,328	5,780,402,229
22	Net assets or fund balances. Subtract line 21 from line 20.....	29,221,141,228	30,433,480,227

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ 1,613,004,544 including grants of $ 41,076,721 ) (Revenue $ 751,563,395 )
	INSTRUCTION AND DEPARTMENTAL RESEARCH - SEE SCH O.

4b	(Code: ) (Expenses $ 1,159,430,326 including grants of $ 21,789,454 ) (Revenue $ 178,270,065 )
	ORGANIZED RESEARCH - REVENUE AMOUNT REPORTED ON LINE 4B DOES NOT INCLUDE $1,096,386,460 IN GOVERNMENT RESEARCH SUPPORT. CONT'D SCH O.

4c	(Code: ) (Expenses $ 962,598,778 including grants of $ 1,105,644 ) (Revenue $ 1,005,264,887 )
	UNIVERSITY AUXILIARY ACTIVITIES - SEE SCH O.

4d	Other program services (Describe in Schedule O.)
	(Expenses $ 692,005,267 including grants of $ 366,709,711 ) (Revenue $ 397,196,123 )
4e	Total program service expenses4,427,038,915

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)............	20,847,413	0	3,146,252

				(A) Total revenue	(B) Related or exempt function revenue	(C) Unrelated business revenue	(D) Revenue excluded from tax under sections 512-514
1a	Federated campaigns..1a
b	Membership dues....1b
c	Fundraising events....1c		1,873,289
d	Related organizations...1d
e	Government grants (contributions)1e		1,096,386,460

f	All other contributions, gifts, grants, and similar amounts not included above1f		871,144,623

g	Noncash contributions included in lines 1a-1f:$		265,099,067
h	Total. Add lines 1a-1f.......			1,969,404,372
			Business Code
2a	STUDENT INCOME		900099	824,202,076	824,202,076
b	GOVT.& NON GOVT.CONTRACT		900099	178,270,065	178,270,065
c	PATIENT CARE		900099	840,960,864	840,960,864
d	SPECIAL PROGRAMS		900099	487,862,652	487,862,652
e	DRIVING RANGE		713910	622,026		622,026
f	All other program service revenue .			376,787		376,787
g	Total. Add lines 2a–2f........			2,332,294,470
3	Investment income (including dividends, interest, and other similar amounts).......			248,759,573		16,187,045	232,572,528
4	Income from investment of tax-exempt bond proceeds..			170,716			170,716
5	Royalties...........			7,650,063			7,650,063
		(i) Real	(ii) Personal
6a	Gross rents	145,954,421
b	Less: rental expenses	34,747,030
c	Rental income or (loss)	111,207,391	0
d	Net rental income or (loss).......			111,207,391			111,207,391
		(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory	28,835,066,166	29,139,000
b	Less: cost or other basis and sales expenses	27,472,929,774	27,583,614
c	Gain or (loss)	1,362,136,392	1,555,386
d	Net gain or (loss)..........			1,363,691,778		99,920,736	1,263,771,042
8a	Gross income from fundraising events (not including $ 1,873,289 of contributions reported on line 1c). See Part IV, line 18 ..
	a		69,264
b	Less: direct expenses ...b		364,799
c	Net income or (loss) from fundraising events..			-295,535			-295,535
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...			0
10a	Gross sales of inventory, less returns and allowances .
	a		4,247,678
b	Less: cost of goods sold ..b		1,725,386
c	Net income or (loss) from sales of inventory..			2,522,292			2,522,292
Miscellaneous Revenue			Business Code
11a
b
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......			0
12	Total revenue. See Instructions......			6,035,405,120	2,331,295,657	117,106,594	1,617,598,497


				(A) Beginning of year		(B) End of year
1	Cash–non-interest-bearing .............			197,773	1	193,026
2	Savings and temporary cash investments .........			630,016,595	2	708,010,967
3	Pledges and grants receivable, net ...........			711,795,169	3	760,519,089
4	Accounts receivable, net .............			540,899,348	4	314,485,517
5	Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of Schedule L ..................
				10,146,687	5	8,802,013
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
				0	6	0
7	Notes and loans receivable, net .............			578,481,451	7	622,413,936
8	Inventories for sale or use ..............			5,613,335	8	5,179,742
9	Prepaid expenses and deferred charges ..........			62,255,758	9	72,122,935
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	8,679,861,196
b	Less: accumulated depreciation .....	10b	3,884,297,258	4,558,913,034	10c	4,795,563,938
11	Investments—publicly traded securities ..........			7,118,193,718	11	6,971,378,896
12	Investments—other securities. See Part IV, line 11 .....			21,010,960,688	12	21,955,212,397
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 ...........			0	15	0
16	Total assets. Add lines 1 through 15 (must equal line 34)......			35,227,473,556	16	36,213,882,456
17	Accounts payable and accrued expenses .........			1,443,948,910	17	1,420,242,413
18	Grants payable .................			0	18	0
19	Deferred revenue ................			616,574,642	19	652,849,598
20	Tax-exempt bond liabilities .............			1,501,429,376	20	1,427,153,000
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 ..			1,763,206,815	23	1,658,225,062
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....................			681,172,585	25	621,932,156
26	Total liabilities. Add lines 17 through 25.........			6,006,332,328	26	5,780,402,229
	Organizations that follow SFAS 117 (ASC 958), check here and complete lines 27 through 29, and lines 33 and 34.
27	Unrestricted net assets ..............			15,467,693,876	27	16,507,628,886
28	Temporarily restricted net assets ...........			7,844,163,298	28	7,744,050,783
29	Permanently restricted net assets ...........			5,909,284,054	29	6,181,800,558
	Organizations that do not follow SFAS 117 (ASC 958), check here 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 ...........			29,221,141,228	33	30,433,480,227
34	Total liabilities and net assets/fund balances ........			35,227,473,556	34	36,213,882,456

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)......................................	Yes	No
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; do not file with Form 990)............................	Yes	No
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)..............................	Yes	No
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)...............................................	Yes	No
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)....................................	Yes	No
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; do not file with Form 990).....................................	Yes	No