TY 2015 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) PETER SALOVEY...................................................................... TRUSTEE & PRESIDENT	50.00 ................. 2.20	X	X	1,103,747	262,654
(2) JOSHUA BEKENSTEIN...................................................................... TRUSTEE	5.00 ................. 0.00	X		0	0
(3) JEFFREY L BEWKES...................................................................... TRUSTEE	5.00 ................. 0.00	X		0	0
(4) MAUREEN C CHIQUET...................................................................... TRUSTEE	5.00 ................. 0.00	X		0	0
(5) FRANCISCO G CIGARROA...................................................................... TRUSTEE	5.00 ................. 0.00	X		0	0
(6) PETER B DERVAN...................................................................... TRUSTEE	5.00 ................. 0.00	X		0	0
(7) DONNA L DUBINSKY...................................................................... TRUSTEE	5.00 ................. 0.00	X		0	0
(8) CHARLES W GOODYEAR IV...................................................................... TRUSTEE	5.00 ................. 0.00	X		0	0
(9) CATHARINE B HILL...................................................................... TRUSTEE	5.00 ................. 0.00	X		0	0
(10) PAUL L JOSKOW...................................................................... TRUSTEE	5.00 ................. 0.00	X		0	0
(11) WILLIAM E KENNARD...................................................................... TRUSTEE	5.00 ................. 0.00	X		0	0
(12) DANNEL P MALLOY...................................................................... TRUSTEE (EX-OFFICIO)	0.00 ................. 0.00	X		0	0
(13) MARGARET H MARSHALL...................................................................... TRUSTEE	5.00 ................. 0.00	X		0	0
(14) GINA M RAIMONDO...................................................................... TRUSTEE	5.00 ................. 0.00	X		0	0
(15) E JOHN RICE JR...................................................................... TRUSTEE	5.00 ................. 0.00	X		0	0
(16) EVE H RICE...................................................................... TRUSTEE	5.00 ................. 0.50	X		0	0
(17) KEVIN P RYAN...................................................................... TRUSTEE	5.00 ................. 0.00	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) DOUGLAS A WARNER III........................................................................ TRUSTEE	5.00 .......................0.00	X					0	0
(19) NANCY WYMAN........................................................................ TRUSTEE (EX-OFFICIO)	0.00 .......................0.00	X					0	0
(20) BRUCE D ALEXANDER........................................................................ VP FOR NEW HAVEN & STATE AFFAIRS	50.00 .......................0.00		X				567,728	42,811
(21) ALEXANDER E DREIER........................................................................ VP & GENERAL COUNSEL	50.00 .......................0.00		X				510,367	57,782
(22) KIMBERLY M GOFF-CREWS........................................................................ SECRETARY & VP FOR STUDENT LIFE	50.00 .......................1.00		X				394,079	39,787
(23) SHAUNA R KING........................................................................ VP FOR FINANCE & BUSINESS OPERATIONS	50.00 .......................1.00		X				515,824	29,882
(24) STEPHEN C MURPHY........................................................................ VP FOR FINANCE & CFO	50.00 .......................3.20		X				349,708	66,934
(25) EILEEN O'CONNOR........................................................................ VP FOR COMMUNICATIONS	50.00 .......................0.50		X				0	0
(26) JOAN E O'NEILL........................................................................ VP FOR ALUMNI AFFAIRS & DEVELOPMENT	50.00 .......................0.40		X				479,340	71,669
(27) MICHAEL A PEEL........................................................................ VP FOR HR & ADMINISTRATION	50.00 .......................0.00		X				595,348	44,260
(28) BENJAMIN POLAK........................................................................ PROVOST	50.00 .......................0.20		X				597,448	29,690
(29) SCOTT A STROBEL........................................................................ VP FOR WEST CAMPUS PLANNING	50.00 .......................0.00		X				454,273	57,877
(30) ROBERT J ALPERN........................................................................ DEAN SCHOOL OF MEDICINE	50.00 .......................0.00			X			885,121	32,017
(31) JOHN H BOLLIER........................................................................ AVP FOR FACILITIES	50.00 .......................0.00			X			384,781	69,495
(32) DAVID F SWENSEN........................................................................ CHIEF INVESTMENT OFFICER	50.00 .......................3.60			X			3,954,681	284,122
(33) DEAN J TAKAHASHI........................................................................ SR DIRECTOR, INVESTMENTS	50.00 .......................2.00			X			2,955,474	249,390
(34) KHALID M ABBED........................................................................ CHIEF, NEUROSURGERY SPINE	50.00 .......................0.00				X		1,466,655	63,699
(35) MASOUD AZODI........................................................................ PROFESSOR, OB/GYN	50.00 .......................0.00				X		1,106,961	65,023
(36) ALAN FORMAN........................................................................ DIRECTOR, INVESTMENTS	50.00 .......................0.00				X		1,038,255	448,858
(37) PETER G SCHULAM........................................................................ CHAIR, DEPARTMENT OF UROLOGY	50.00 .......................0.00				X		1,039,080	60,526
(38) TIMOTHY R SULLIVAN........................................................................ DIRECTOR, INVESTMENTS	50.00 .......................0.00				X		1,289,777	500,450
(39) LINDA K LORIMER........................................................................ FORMER VP FOR GLOBAL & STRAT. INIT.	50.00 .......................0.00					X	509,049	47,262
(40) DOROTHY K ROBINSON........................................................................ FORMER VP & GENERAL COUNSEL	50.00 .......................0.20					X	561,269	12,090
(41) MICHAEL J DONOGHUE........................................................................ FORMER VP FOR WEST CAMPUS PLANNING	50.00 .......................0.00					X	262,044	69,900

(A) Name and business address	(B) Description of services	(C) Compensation
DIMEO CONSTRUCTION COMPANY 75 CHAPMAN STREET PROVIDENCE,RI02905	CONSTRUCTION & RELATED SERVICES	163,619,713
SHAWMUT WOODWORKING & SUPPLY INC 560 HARRISON AVENUE BOSTON,MA02118	CONSTRUCTION & RELATED SERVICES	46,183,855
THE WHITING-TURNER CONTRACTING COMPANY 300 EAST JOPPA ROAD BALTIMORE,MD21286	CONSTRUCTION & RELATED SERVICES	15,255,538
TURNER CONSTRUCTION COMPANY 50 WATERVIEW DRIVE SHELTON,CT06484	CONSTRUCTION & RELATED SERVICES	15,189,091
FRANK LILL AND SON INC 785 OLD DUTCH ROAD VICTOR,NY14564	CONSTRUCTION & RELATED SERVICES	15,188,466
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 429

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

OMB No. 1545-0047

2015

Open to Public
Inspection

Name of the organization

YALE UNIVERSITY

Employer identification number

06-0646973

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 (Form 990 or 990-EZ))

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 990-EZ.

Cat. No. 11285F

Schedule A (Form 990 or 990-EZ) 2015

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) 2011	(b) 2012	(c) 2013	(d) 2014	(e) 2015	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any unusual grants.) ....	863,987,731	846,509,395	878,354,797	910,761,374	963,188,552	4,462,801,849
2	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf.......
3	The value of services or facilities furnished by a governmental unit to the organization without charge..
4	Total. Add lines 1 through 3	863,987,731	846,509,395	878,354,797	910,761,374	963,188,552	4,462,801,849
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)..
6	Public support. Subtract line 5 from line 4.						4,462,801,849

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2011	(b) 2012	(c) 2013	(d) 2014	(e) 2015	(f) Total
7	Amounts from line 4..	863,987,731	846,509,395	878,354,797	910,761,374	963,188,552	4,462,801,849
8	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources...	511,578,007	558,241,125	731,938,276	433,042,326	639,514,386	2,874,314,120
9	Net income from unrelated business activities, whether or not the business is regularly carried on..
10	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.)..
11	Total support. Add lines 7 through 10.						7,337,115,969

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

7,644,773,102

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 2015 (line 6, column (f) divided by line 11, column (f)) .........

60.830 %

Public support percentage for 2014 Schedule A, Part II, line 14 ...............

62.950 %

16a

33 1/3% support test—2015. 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—2014. 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—2015. 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—2014. 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) 2015

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) 2011	(b) 2012	(c) 2013	(d) 2014	(e) 2015	(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) 2011	(b) 2012	(c) 2013	(d) 2014	(e) 2015	(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 2015 (line 8, column (f) divided by line 13, column (f)) .........

Public support percentage from 2014 Schedule A, Part III, line 15 ...............

Section D. Computation of Investment Income Percentage

Investment income percentage for 2015 (line 10c, column (f) divided by line 13, column (f)) ......

Investment income percentage from 2014 Schedule A, Part III, line 17 .............

19a

331/3% support tests—2015. 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—2014. 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) 2015

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 (i) its supported organizations, (ii) individuals that are part of the charitable class benefited by one or more of its supported organizations, or (iii) 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 section 4958(c)(3)(C)), a family member of a substantial contributor, or a 35% controlled entity with regard to a substantial contributor? If “Yes,” complete Part I of Schedule L (Form 990 or 990-EZ) .

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

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 9a) 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 9a) 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 section 4943 because of section 4943(f) (regarding certain Type II supporting organizations, and all Type III non-functionally integrated supporting organizations)? If “Yes,” answer line 10b 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

Schedule A (Form 990 or 990-EZ) 2015

Page 5

Part IV

Supporting Organizations (continued)

Yes

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

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, (i) a written notice describing the type and amount of support provided during the prior tax year, (ii) a copy of the Form 990 that was most recently filed as of the date of notification, and (iii) 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) 2015

Page 6

Part V

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

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

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) 2015

Page 7

Part V

Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations (continued)

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 2015 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-2015	(iii) Distributable Amount for 2015
1 Distributable amount for 2015 from Section C, line 6
2 Underdistributions, if any, for years prior to 2015 (reasonable cause required--see instructions)
3 Excess distributions carryover, if any, to 2015:
a
b
c
d From 2013.......
e From 2014.......
fTotal of lines 3a through e
g Applied to underdistributions of prior years
h Applied to 2015 distributable amount
i Carryover from 2010 not applied (see instructions)
j Remainder. Subtract lines 3g, 3h, and 3i from 3f.
4Distributions for 2015 from Section D, line 7:
$
a Applied to underdistributions of prior years
b Applied to 2015 distributable amount
c Remainder. Subtract lines 4a and 4b from 4.
5 Remaining underdistributions for years prior to 2015, if any. Subtract lines 3g and 4a from line 2 (if amount greater than zero, see instructions)
6 Remaining underdistributions for 2015. Subtract lines 3h and 4b from line 1 (if amount greater than zero, see instructions)
7 Excess distributions carryover to 2016. Add lines 3j and 4c.
8 Breakdown of line 7:
a
b
c Excess from 2013.......
d From 2014.......
e From 2015.......

Schedule A (Form 990 or 990-EZ) (2015)

Schedule A (Form 990 or 990-EZ) 2015

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) 2015

Additional Data

Software ID:
Software Version:

- TIN:

Schedule B
(Form 990, 990-EZ,
or 990-PF)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

Attach to Form 990, 990-EZ, or 990-PF.

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

OMB No. 1545-0047

2015

Name of the organization

YALE UNIVERSITY

Employer identification number

06-0646973

Organization type (check one):

Filers of:

Section:

Form 990 or 990-EZ

501(c)( ) (enter number) organization

4947(a)(1) nonexempt charitable trust not treated as a private foundation

527 political organization

Form 990-PF

501(c)(3) exempt private foundation

4947(a)(1) nonexempt charitable trust treated as a private foundation

501(c)(3) taxable private foundation

Check if your organization is covered by the General Rule or a Special Rule.
Note. Only a section 501(c)(7), (8), or (10) organization can check boxes for both the General Rule and a Special Rule. See instructions.

General Rule

For an organization filing Form 990, 990-EZ, or 990-PF that received, during the year, contributions totaling $5,000 or more (in money or other property) from any one contributor. Complete Parts I and II. See instructions for determining a contributor's total contributions.

Special Rules

For an organization described in section 501(c)(3) filing Form 990 or 990-EZ that met the 33¹/3% support test of the regulations
under sections 509(a)(1) and 170(b)(1)(A)(vi), that checked Schedule A (Form 990 or 990-EZ), Part II, line 13, 16a, or 16b, and that received from any one contributor, during the year, total contributions of the greater of (1) $5,000 or (2) 2% of the amount on (i) Form 990, Part VIII, line 1h, or (ii) Form 990-EZ, line 1. Complete Parts I and II.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, total contributions of more than $1,000 exclusively for religious, charitable, scientific, literary, or educational purposes, or for the prevention of cruelty to children or animals. Complete Parts I, II, and III.

For an organization described in section 501(c)(7), (8), or (10) filing Form 990 or 990-EZ that received from any one contributor,
during the year, contributions exclusively for religious, charitable, etc., purposes, but no such contributions totaled more than $1,000. If this box is checked, enter here the total contributions that were received during the year for an exclusively religious, charitable, etc., purpose. Do not complete any of the parts unless the General Rule applies to this organization because it received nonexclusively religious, charitable, etc., contributions totaling $5,000 or more during the year ......... Arrow Bullet

Caution. An organization that is not covered by the General Rule and/or the Special Rules does not file Schedule B (Form 990,
990-EZ, or 990-PF), but it must answer “No” on Part IV, line 2, of its Form 990; or check the box on line H of its
Form 990-EZ or on its Form 990PF, Part I, line 2, to certify that it does not meet the filing requirements of Schedule B (Form 990,
990-EZ, or 990-PF).

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

Cat. No. 30613XSchedule B (Form 990, 990-EZ, or 990-PF) (2015)

Schedule B (Form 990, 990-EZ, or 990-PF) (2015) Page 2

Name of organization YALE UNIVERSITY

Part I	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
RESTRICTED	,	$ RESTRICTED	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990, 990-EZ, or 990-PF) (2015)

Schedule B (Form 990, 990-EZ, or 990-PF) (2015)

Page 3

Name of organization YALE UNIVERSITY		Employer identification number 06-0646973

Part II	Noncash Property (see instructions). Use duplicate copies of Part II if additional space is needed.
(a) No.from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No.from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No.from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No.from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No.from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
(a) No.from Part I	(b) Description of noncash property given	(c) FMV (or estimate) (see instructions)	(d) Date received
		$
Schedule B (Form 990, 990-EZ, or 990-PF) (2015)

Schedule B (Form 990, 990-EZ, or 990-PF) (2015)

Page 4


Name of organization YALE UNIVERSITY			Employer identification number 06-0646973
Part III Exclusively religious, charitable, etc., contributions to organizations described in section 501(c)(7), (8), or (10) that total more than $1,000 for the year from any one contributor. Complete columns (a) through (e) and the following line entry. For organizations completing Part III, enter the total of exclusively religious, charitable, etc., contributions of $1,000 or less for the year. (Enter this information once. See instructions.) $ Use duplicate copies of Part III if additional space is needed.

(a)
No.from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No.from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No.from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

(a)
No.from Part I

(b) Purpose of gift

(d) Description of how gift is held

(e) Transfer of gift
Transferee's name, address, and ZIP 4	Relationship of transferor to transferee

Schedule B (Form 990, 990-EZ, or 990-PF) (2015)

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

2015

Open to Public
Inspection

If the organization answered "Yes" on 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" on 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" on 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

YALE UNIVERSITY

Employer identification number

06-0646973

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-.
1
2
3
4
5
6

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

Cat. No. 50084S

Schedule C (Form 990 or 990-EZ) 2015

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). Click to see attachment

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.)		(a) Filing organization's totals	(b) Affiliated group totals
1a	Total lobbying expenditures to influence public opinion (grass roots lobbying) ...............................................	10,077	10,077
b	Total lobbying expenditures to influence a legislative body (direct lobbying) ...........................................	458,790	458,790
c	Total lobbying expenditures (add lines 1a and 1b) .......................................................................	468,867	468,867
d	Other exempt purpose expenditures .........................................................................................	3,531,725,314	3,586,222,887
e	Total exempt purpose expenditures (add lines 1c and 1d) ....................................................................	3,532,194,181	3,586,691,754
f	Lobbying nontaxable amount. Enter the amount from the following table in both columns.	1,000,000	1,000,000
	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) ..........................................................................	250,000	250,000
h	Subtract line 1g from line 1a. If zero or less, enter -0-. ..........................................................................	0	0
i	Subtract line 1f from line 1c. If zero or less, enter -0-. ...........................................................................	0	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) 2012	(b) 2013	(c) 2014	(d) 2015	(e) Total

2a	Lobbying nontaxable amount	1,000,000	1,000,000	1,000,000	1,000,000	4,000,000

b	Lobbying ceiling amount (150% of line 2a, column(e))					6,000,000

c	Total lobbying expenditures	606,971	506,069	435,170	468,867	2,017,077

d	Grassroots nontaxable amount	250,000	250,000	250,000	250,000	1,000,000

e	Grassroots ceiling amount (150% of line 2d, column (e))					1,500,000

f	Grassroots lobbying expenditures	18,971	10,448	5,821	10,077	45,317

Schedule C (Form 990 or 990-EZ) 2015

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 on 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? ...........................................................................................................

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

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

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

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

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

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

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

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

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

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

Schedule C (Form 990 or 990EZ) 2015

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," on 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

2015

Open to Public Inspection

Name of the organization

YALE UNIVERSITY

Employer identification number

06-0646973

Part I

Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" on Form 990, Part IV, line 6.

			(a) Donor advised funds	(b) Funds and other accounts

1	Total number at end of year ....	9
2	Aggregate value of contributions to (during year)	13,750,000
3	Aggregate value of grants from (during year)	3,219,549
4	Aggregate value at end of year ....	76,661,761

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" on 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, handling of violations, and enforcing conservation easements during the year
SchDMd Bullet

Amount of expenses incurred in monitoring, inspecting, handling of violations, 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" on 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 on 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 on 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) 2015

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" on 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


b	If "Yes," explain the arrangement in Part XIII and complete the following table:		Amount
c	Beginning balance .............................	1c
d	Additions during the year ............................	1d
e	Distributions during the year ..........................	1e
f	Ending balance ................................	1f

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" on Form 990, Part IV, line 10.

		(a)Current year	(b)Prior year	(c)Two years back	(d)Three years back	(e)Four years back

1a	Beginning of year balance ....	25,789,811,000	24,089,614,000	20,993,584,000	19,606,479,000	19,630,896,000
b	Contributions ...	182,188,000	117,434,000	131,476,000	147,031,000	137,655,000
c	Net investment earnings, gains, and losses	753,230,000	2,579,415,000	4,037,639,000	2,294,825,000	877,883,000
d	Grants or scholarships ...	178,364,898	165,168,000	162,357,000	157,718,000	152,900,000
e	Other expenditures for facilities and programs ...	808,937,122	750,471,000	833,291,000	824,778,000	819,118,000
f	Administrative expenses ....	80,427,980	81,013,000	77,437,000	72,255,000	67,937,000
g	End of year balance ......	25,657,499,000	25,789,811,000	24,089,614,000	20,993,584,000	19,606,479,000

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

Board designated or quasi-endowment SchDMd Bullet

15.950 %

Permanent endowment SchDMd Bullet

14.120 %

Temporarily restricted endowment SchDMd Bullet

69.930 %

The percentages on 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)

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

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' on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.

Description of property		(a) Cost or other basis (investment)	(b)Cost or other basis (other)	(c) Accumulated depreciation	(d) Book value

1a	Land ...		135,248,940		135,248,940
b	Buildings	62,088,112	6,485,691,244	2,122,705,611	4,425,073,745
c	Leasehold improvements		1,299,035	949,981	349,054
d	Equipment ...		495,902,322	349,723,949	146,178,373
e	Other ...
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..					4,706,850,112

Schedule D (Form 990) 2015

Page 3

Part VII

InvestmentsOther Securities. Complete if the organization answered 'Yes' on 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 AND CASH EQUIVALENTS	100,107	F
(B) FIXED INCOME	74,720,935	F
(C) COMMON STOCK	224,109,341	F
(D) EQUITY INVESTMENTS	22,423,373,761	F
(E) OTHER INVESTMENTS	342,318,839	F
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)	23,064,622,983

Part VIII

InvestmentsProgram Related. Complete if the organization answered 'Yes' on 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

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)

Part IX

Other Assets. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11d. See Form 990, Part X, line 15.

(a) Description				(b) Book value

(1)
(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........

Part X

Other Liabilities. Complete if the organization answered 'Yes' on Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.

1.(a) Description of liability	(b) Book value
(1) Federal income taxes
EMPLOYEE BENEFIT OBLIGATIONS	1,388,003,844
COMPENSATED ABSENCES	64,321,305
FINANCIAL AID GRANT OBLIGATIONS	60,029,000
ASSET RETIREMENT OBLIGATIONS	39,100,000
CAPITAL LEASE OBLIGATIONS	42,424,192
LIABILITIES UNDER SPLIT-INTEREST AGREEMENTS	129,251,873
ADVANCES FROM FEDERAL GOV'T FOR STUDENT LOANS	31,008,496
SECURITIES SOLD NOT YET PURCHASED	112,086,992
DUE TO INSTITUTIONS	1,707,419,695
OTHER LIABILITIES	777,748,776
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)	4,351,394,173
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) 2015

Page 4

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......			1	2,517,465,000
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a	-1,633,417,922
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ............	2d	-608,675,264
e	Add lines 2a through 2d .....................			2e	-2,242,093,186
3	Subtract line 2e from line 1..................			3	4,759,558,186
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	95,994,359
b	Other (Describe in Part XIII.) ...........	4b	-47,554,815
c	Add lines 4a and 4b....................			4c	48,439,544
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......			5	4,807,997,730

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........			1	3,364,206,000
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	59,482,814
e	Add lines 2a through 2d....................			2e	59,482,814
3	Subtract line 2e from line 1...................			3	3,304,723,186
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	95,994,359
b	Other (Describe in Part XIII.) ............	4b	280,890,949
c	Add lines 4a and 4b.....................			4c	376,885,308
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......			5	3,681,608,494

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
PART III, LINE 1A:	YALE UNIVERSITY FINANCIAL STATEMENTS - COLLECTIONS FOOTNOTE: COLLECTIONS AT YALE INCLUDE WORKS OF ART, LITERARY WORKS, HISTORICAL TREASURES AND ARTIFACTS THAT ARE MAINTAINED IN THE UNIVERSITY'S MUSEUMS AND LIBRARIES. THESE COLLECTIONS ARE PROTECTED AND PRESERVED FOR PUBLIC EXHIBITION, EDUCATION, RESEARCH AND THE FURTHERANCE OF PUBLIC SERVICE. COLLECTIONS ARE NOT CAPITALIZED; PURCHASES OF COLLECTION ITEMS ARE RECORDED AS OPERATING EXPENSES IN THE UNIVERSITY'S CONSOLIDATED FINANCIAL STATEMENTS IN THE PERIOD IN WHICH THE ITEMS ARE ACQUIRED.
PART III, LINE 4:	YALE UNIVERSITY COLLECTIONS ARE AN INTEGRAL PART OF TEACHING AND LEARNING ACROSS THE UNIVERSITY INCLUDING THE YALE UNIVERSITY ART GALLERY, THE YALE CENTER FOR BRITISH ART, THE PEABODY MUSEUM OF NATURAL HISTORY, AND THE COLLECTION OF MUSICAL INSTRUMENTS. ALL THE COLLECTIONS ARE OPEN TO THE PUBLIC. THE YALE UNIVERSITY ART GALLERY: THE YALE UNIVERSITY ART GALLERY, FOUNDED IN 1832, IS THE OLDEST U.S. COLLEGE ART MUSEUM. THE GALLERY HOUSES MORE THAN 200,000 OBJECTS REPRESENTING EASTERN AND WESTERN CULTURES AND RANGING IN DATE FROM ANCIENT TIMES TO THE PRESENT DAY. THE COLLECTION INCLUDES ANCIENT, NEAR AND FAR EASTERN ART, AFRICAN ART, PHOTOGRAPHS, COINS AND MEDALS, WORKS OF EUROPEAN AND AMERICAN MASTERS FROM VIRTUALLY EVERY PERIOD, AND A RICH COLLECTION OF MODERN AND CONTEMPORARY ART. THE MISSION OF THE YALE UNIVERSITY ART GALLERY IS TO ENCOURAGE APPRECIATION AND UNDERSTANDING OF ART AND ITS ROLE IN SOCIETY THROUGH DIRECT ENGAGEMENT WITH ORIGINAL WORKS OF ART. THE GALLERY STIMULATES ACTIVE LEARNING ABOUT ART AND THE CREATIVE PROCESS THROUGH RESEARCH, TEACHING, AND DIALOGUE AMONG COMMUNITIES OF YALE STUDENTS, FACULTY, ARTISTS, SCHOLARS, ALUMNI, AND THE WIDER PUBLIC. THE GALLERY ORGANIZES EXHIBITIONS AND EDUCATIONAL PROGRAMS TO OFFER ENJOYMENT AND ENCOURAGE INQUIRY, WHILE BUILDING AND MAINTAINING ITS COLLECTIONS IN TRUST FOR FUTURE GENERATIONS. THE YALE CENTER FOR BRITISH ART: THE YALE CENTER FOR BRITISH ART IS A PUBLIC ART MUSEUM AND RESEARCH INSTITUTE FOR THE STUDY OF BRITISH ART AND CULTURE. THE YALE CENTER FOR BRITISH ART, WHICH OPENED IN 1977, HOUSES THE LARGEST AND MOST COMPREHENSIVE COLLECTION OF BRITISH ART OUTSIDE THE UNITED KINGDOM. THE COLLECTION OF PAINTINGS, SCULPTURE, PRINTS, DRAWINGS, RARE BOOKS, AND MANUSCRIPTS REFLECTS THE DEVELOPMENT OF BRITISH ART AND LIFE FROM THE ELIZABETHAN PERIOD ONWARD. THE CENTER OFFERS A YEAR-ROUND SCHEDULE OF EXHIBITIONS AND PROGRAMS, INCLUDING LECTURES, CONFERENCES, FILMS, CONCERTS, AND PERFORMANCES. THE YALE CENTER FOR BRITISH ART OVERSEES AN ACTIVE RESEARCH PROGRAM THROUGH WHICH IT PROMOTES AND FOSTERS THE SCHOLARSHIP OF ALL ASPECTS OF BRITISH ART AND MATERIAL CULTURE. ACADEMIC RESOURCES OF THE CENTER INCLUDE THE REFERENCE LIBRARY AND ARCHIVE, CONSERVATION LABORATORIES, A STUDY ROOM FOR EXAMINING WORKS ON PAPER AS WELL AS RARE BOOKS AND MANUSCRIPTS FROM THE COLLECTION, AND AN ONLINE CATALOGUE OF THE COLLECTION. PEABODY MUSEUM: YALE'S PEABODY MUSEUM OF NATURAL HISTORY, FOUNDED IN 1866, IS ONE OF THE OLDEST AND LARGEST UNIVERSITY-BASED NATURAL HISTORY MUSEUMS WITH WORLDWIDE ACCLAIM FOR ITS DINOSAUR SKELETONS, MAMMAL DISPLAYS, AND NATURAL HISTORY COLLECTIONS. THE PEABODY MUSEUM HOUSES MORE THAN 12.8 MILLION SPECIMENS AND ARTIFACTS IN 10 DIFFERENT DIVISIONS AND REPRESENTING MORE THAN 4 BILLION YEARS OF GEOLOGICAL, BIOLOGICAL, AND HUMAN HISTORY. THESE COLLECTIONS ARE AT THE HEART OF UNIVERSITY TEACHING AND ARE A RESOURCE FOR SCHOLARS AT YALE AND AROUND THE WORLD. MUSEUMS AND THE EXPERTISE THAT SURROUNDS THEM ARE VIBRANT ELEMENTS OF YALE'S CULTURE OF SCHOLARSHIP AND TEACHING. THE PEABODY IS A WORKING MUSEUM, WHERE PUBLIC EXHIBITION, RESEARCH, CONSERVATION, TEACHING, AND LEARNING INTERSECT. ITS MISSION IS TO SERVE THE UNIVERSITY BY ADVANCING THE UNDERSTANDING OF EARTH'S HISTORY THROUGH GEOLOGICAL, BIOLOGICAL, AND ANTHROPOLOGICAL RESEARCH, AND BY COMMUNICATING THE RESULTS OF THIS RESEARCH TO THE WIDEST POSSIBLE AUDIENCE THROUGH PUBLICATION, EXHIBITION, AND EDUCATIONAL PROGRAMS. FUNDAMENTAL TO THIS MISSION IS STEWARDSHIP OF THE MUSEUM'S RICH COLLECTIONS, WHICH PROVIDE A REMARKABLE RECORD OF THE HISTORY OF THE EARTH, ITS LIFE, AND ITS CULTURES. CONSERVATION, AUGMENTATION AND USE OF THESE COLLECTIONS ARE INCREASINGLY URGENT AS MODERN THREATS TO THE DIVERSITY OF LIFE AND CULTURE CONTINUE TO INTENSIFY. THE COLLECTIONS OF THE YALE PEABODY MUSEUM OF NATURAL HISTORY PROVIDE MATERIAL SUPPORT FOR UNDERGRADUATE AND GRADUATE TEACHING AND RESEARCH AT YALE UNIVERSITY. THE MUSEUM'S CURATORIAL DIVISIONS MAINTAIN TEACHING COLLECTIONS FOR USE IN A WIDE RANGE OF UNDERGRADUATE CLASSROOM AND LABORATORY COURSES, FROM FORENSIC ANTHROPOLOGY TO EVOLUTIONARY BIOLOGY. IN ADDITION, EACH YEAR THE YALE PEABODY MUSEUM PROVIDES EDUCATIONAL PROGRAMS ON BIOLOGY, PALEONTOLOGY, GEOLOGY, ANCIENT CIVILIZATIONS, SOCIAL STUDIES, AND ART TO MORE THAN 25,000 VISITORS FROM THROUGHOUT THE NORTHEAST, INCLUDING ELEMENTARY THROUGH COLLEGE STUDENTS AND OTHER PRIVATE AND COMMUNITY-BASED GROUPS. ALL PROGRAMS DRAW ON THE MUSEUM'S EXHIBITS TO MEET THE INCREASINGLY SOPHISTICATED NEEDS OF SCIENCE AND SOCIAL STUDIES EDUCATION AND MOST CAN BE ADAPTED TO ACCOMMODATE SPECIFIC GROUP NEEDS AS REQUESTED. THE MUSEUM'S COLLECTIONS ARE AVAILABLE TO LEGITIMATE RESEARCHERS AT ESTABLISHED INSTITUTIONS FOR SCHOLARLY USE. COLLECTION OF MUSICAL INSTRUMENTS: ESTABLISHED IN 1900, THE COLLECTION OF MUSICAL INSTRUMENTS TODAY COMPRISES NEARLY ONE THOUSAND INSTRUMENTS, THE MAJORITY DOCUMENTING THE HISTORY OF WESTERN ART MUSIC. IT IS COMMITTED TO FOSTERING THE UNDERSTANDING AND APPRECIATION OF MUSICAL INSTRUMENTS FROM ALL CULTURES AND PERIODS. ONE OF THE FOREMOST INSTITUTIONS OF ITS KIND, THE COLLECTION ACQUIRES, PRESERVES, AND EXHIBITS MUSICAL INSTRUMENTS FROM ANTIQUITY TO THE PRESENT, FEATURING RESTORED EXAMPLES IN DEMONSTRATION AND LIVE PERFORMANCE. IT PROVIDES ACCESS TO AND DISSEMINATES INFORMATION ABOUT ITS HOLDINGS TO YALE STUDENTS, FACULTY, AND STAFF; TO SCHOLARS, MUSICIANS, AND INSTRUMENT MAKERS; AND TO THE BROADER PUBLIC. AN IMPORTANT RESOURCE FOR THE MUSIC CURRICULA OF THE UNIVERSITY, THE COLLECTION SERVES AS A LABORATORY FOR COURSES IN THE HISTORY OF MUSICAL INSTRUMENTS AND AS A SUPPLEMENTAL ARCHIVE FOR COURSES TAUGHT IN THE ARTS AND SCIENCES. THE COLLECTION MAINTAINS REGULAR PUBLIC VISITING HOURS, MOUNTS EXHIBITS, AND PRESENTS AN ANNUAL SERIES OF CONCERTS. LECTURES, TOURS, AND SPECIAL CONCERTS ARE OFFERED THROUGHOUT THE YEAR. EXHIBITIONS ARE ALSO FREQUENTLY MOUNTED AT THE FOLLOWING VENUES ON CAMPUS: YALE SCHOOL OF ARCHITECTURE GALLERY, BEINECKE RARE BOOK AND MANUSCRIPT LIBRARY, GREEN HALL GALLERY (SCHOOL OF ART), 32 EDGEWOOD GALLERY (SCHOOL OF ART), GALLERY AT WHITNEY, AND STERLING MEMORIAL LIBRARY, AS WELL AS AT OTHER NON-YALE LOCATIONS AND INSTITUTIONS THROUGH UNIVERSITY LOAN OR EXCHANGE PROGRAMS. YALE UNIVERSITY LIBRARY: IN ADDITION TO ITS MUSEUMS, THE YALE UNIVERSITY LIBRARY PROVIDES OUTSTANDING SUPPORT FOR TEACHING, LEARNING, AND RESEARCH AT THE UNIVERSITY, AND FOR THE WORLD-WIDE SCHOLARLY COMMUNITY, THROUGH ITS STAFF, COLLECTIONS, PROGRAMS, SPACES, AND SERVICES. THE COLLECTION OF NEARLY 15 MILLION PRINT AND ELECTRONIC VOLUMES IS HOUSED IN 15 LIBRARIES, INCLUDING STERLING MEMORIAL, BEINECKE, AND BASS LIBRARIES, THE CENTER FOR SCIENCE AND SOCIAL SCIENCE INFORMATION, AS WELL AS MANY OTHER SCHOOL AND DEPARTMENTAL LIBRARIES. COLLECTIONS RANGE FROM ANCIENT PAPYRI AND EARLY PRINTED BOOKS TO DIGITAL COLLECTIONS AND ELECTRONIC DATABASES; AND THEY TRANSCEND A WIDE ARRAY OF FORMATS INCLUDING TEXT, PHOTOGRAPHS, VIDEO, AUDIO, DATA, MAPS, AND EPHEMERA. IN BUILDING THE MAGNIFICENT COLLECTIONS OVER THE LAST THREE CENTURIES, YALE MADE A STEWARDSHIP COMMITMENT TO ASSIST IN THE PRESERVATION OF HUMAN KNOWLEDGE. THE LIBRARY ALSO HAS A RESPONSIBILITY TO BRING DIGITAL RESOURCES TO THE YALE COMMUNITY AND TO ADDRESS THE INTIMIDATING CHALLENGES OF DIGITAL PRESERVATION.
PART IV, LINE 2B:	THE AMOUNT REPORTED ON FORM 990, PART X, LINE 21, ESCROW ACCOUNT LIABILITY, CONSISTS OF SECURITY DEPOSITS RELATED TO LEASE AGREEMENTS AND OTHER DEPOSITS. PART V, LINE 1: ENDOWMENT FUNDS INCLUDE THE VALUE OF THE ENDOWMENT AND UNEXPENDED ENDOWMENT INCOME AT JUNE 30, 2016.
PART V, LINE 4:	THE ENDOWMENT PROVIDES THE LARGEST SOURCE OF SUPPORT FOR THE ACADEMIC PROGRAMS OF THE UNIVERSITY. SPENDING FROM THE ENDOWMENT GREW DURING THE LAST DECADE FROM $616 MILLION TO $1.2 BILLION, AN ANNUAL GROWTH RATE OF 6.5%. YALE'S SPENDING AND INVESTMENT POLICIES PROVIDED SUBSTANTIAL LEVELS OF CASH FLOW TO THE OPERATING BUDGET FOR CURRENT SCHOLARS WHILE PRESERVING ENDOWMENT PURCHASING POWER FOR FUTURE GENERATIONS. THE YALE ENDOWMENT CONTAINS THOUSANDS OF FUNDS WITH VARIOUS PURPOSES AND RESTRICTIONS. APPROXIMATELY 84% OF FUNDS CONSTITUTE TRUE ENDOWMENT, GIFTS RESTRICTED BY DONORS TO PROVIDE LONG-TERM FUNDING FOR DESIGNATED PURPOSES. THE REMAINING FUNDS REPRESENT QUASI-ENDOWMENT, MONIES THAT THE YALE CORPORATION CHOOSES TO INVEST AND TREAT AS ENDOWMENT. DONORS FREQUENTLY SPECIFY A PARTICULAR PURPOSE FOR GIFTS, CREATING ENDOWMENTS TO FUND PROFESSORSHIPS, TEACHING, AND LECTURESHIPS (24%); SCHOLARSHIPS, FELLOWSHIPS, AND PRIZES (17%); MAINTENANCE (4%); BOOKS (3%); AND MISCELLANEOUS SPECIFIC PURPOSES (27%). TWENTY-FIVE PERCENT OF FUNDS ARE UNRESTRICTED. TWENTY-FIVE PERCENT OF THE ENDOWMENT BENEFITS THE OVERALL UNIVERSITY, WITH REMAINING FUNDS FOCUSED ON SPECIFIC UNITS, INCLUDING THE FACULTY OF ARTS AND SCIENCES (27%), THE PROFESSIONAL SCHOOLS (25%), THE LIBRARY (7%), AND OTHER ENTITIES (16%). PART X, LINE 2: THE UNIVERSITY WAS NOT REQUIRED TO INCLUDE A FIN 48 (ASC 740), ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, FOOTNOTE IN ITS FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2016.
PART XI, LINE 2D - OTHER ADJUSTMENTS:	TUITION DISCOUNTS WHICH WERE NETTED WITH STUDENT INCOME ON THE AUDITED FINANCIAL STATEMENTS: (280,640,949) AFFILIATED ORGANIZATION INCOME(LOSS): 4,093,635 CHANGE IN FUNDING STATUS OF DEFINED BENEFIT PLANS: (393,574,000) ACTUARIAL ADJUSTMENT FOR SPLIT INTEREST LIABILITY: 9,196,231 NON-CONTROLLING INTEREST: 52,498,000 GRANT EXPENSE RECLASSIFIED FROM REVENUE TO EXPENSE: (250,000) ROUNDING: 1,819 TOTAL: (608,675,264)
PART XI, LINE 4B - OTHER ADJUSTMENTS:	EXPENSES ON THE AUDITED FINANCIAL STATEMENTS THAT ARE RECLASSIFIED FOR FORM 990 PURPOSES AND REPORTED ON PART VIII, LINES 6B, 7B, 8B, AND 9B PURSUANT TO FORM INSTRUCTIONS: (47,554,815)
PART XII, LINE 2D - OTHER ADJUSTMENTS:	EXPENSES ON THE AUDITED FINANCIAL STATEMENTS THAT ARE RECLASSIFIED FOR FORM 990 PURPOSES AND REPORTED ON PART VIII, LINES 6B, 7B, 8B, AND 9B PURSUANT TO FORM INSTRUCTIONS: 47,554,815 AFFILIATED ORGANIZATION EXPENSE: 11,927,999 TOTAL: 59,482,814
PART XII, LINE 4B - OTHER ADJUSTMENTS:	TUITION DISCOUNTS WHICH WERE NETTED WITH STUDENT INCOME ON THE AUDITED FINANCIAL STATEMENTS: 280,640,949 GRANT EXPENSE RECLASSIFIED FROM REVENUE TO EXPENSE: 250,000 TOTAL: 280,890,949

Schedule D (Form 990) 2015

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" on 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 2015Open to Public Inspection

Name of the organization

YALE UNIVERSITY

Employer identification number

06-0646973

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

Yes

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) (2015)

Schedule E (Form 990 or 990EZ) (2015)

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, PART I, LINE 3	SEE SCHEDULE E PAGE 2
SCHEDULE E, LINE 3	YALE UNIVERSITY'S EQUAL OPPORTUNITY STATEMENT: THE UNIVERSITY IS COMMITTED TO BASING JUDGMENTS CONCERNING THE ADMISSION, EDUCATION, AND EMPLOYMENT OF INDIVIDUALS UPON THEIR QUALIFICATIONS AND ABILITIES AND AFFIRMATIVELY SEEKS TO ATTRACT TO ITS FACULTY, STAFF, AND STUDENT BODY QUALIFIED PERSONS OF DIVERSE BACKGROUNDS. IN ACCORDANCE WITH THIS POLICY AND AS DELINEATED BY FEDERAL AND CONNECTICUT LAW, YALE DOES NOT DISCRIMINATE IN ADMISSIONS, EDUCATIONAL PROGRAMS, OR EMPLOYMENT AGAINST ANY INDIVIDUAL ON ACCOUNT OF THAT INDIVIDUAL'S SEX, RACE, COLOR, RELIGION, AGE, DISABILITY, STATUS AS A SPECIAL DISABLED VETERAN, VETERAN OF THE VIETNAM ERA OR OTHER COVERED VETERAN, OR NATIONAL OR ETHNIC ORIGIN; NOR DOES YALE DISCRIMINATE ON THE BASIS OF SEXUAL ORIENTATION OR GENDER IDENTITY OR EXPRESSION. UNIVERSITY POLICY IS COMMITTED TO AFFIRMATIVE ACTION UNDER LAW IN EMPLOYMENT OF WOMEN, MINORITY GROUP MEMBERS, INDIVIDUALS WITH DISABILITIES, SPECIAL DISABLED VETERANS, VETERANS OF THE VIETNAM ERA, AND OTHER COVERED VETERANS. THE UNIVERSITY'S EQUAL OPPORTUNITY STATEMENT IS MADE KNOWN TO ALL SEGMENTS OF THE GENERAL COMMUNITY SERVICED BY THE UNIVERSITY. IT IS INCLUDED IN CATALOGUES AND BROCHURES DEALING WITH STUDENT ADMISSIONS, PROGRAMS AND SCHOLARSHIPS OF THE UNIVERSITY AS WELL AS ON ITS WEBSITE WHICH ARE ALL AVAILABLE TO THE GENERAL PUBLIC.
SCHEDULE E, LINE 6	THE UNIVERSITY HAS RECEIVED AND CONTINUES TO RECEIVE STUDENT FINANCIAL AID AND GRANTS FROM GOVERNMENTAL AGENCIES.

Schedule E (Form 990 or 990-EZ) (2015)

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

See separate instructions. Right pointing arrow large image

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

OMB No. 1545-0047

2015

Open to Public Inspection

Name of the organization
YALE UNIVERSITY

Employer identification number

06-0646973

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	0	0	PROGRAM SERVICES	ACADEMIC COLLABORATIONS	35,932
	CENTRAL AMERICA AND THE CARIBBEAN	0	0	PROGRAM SERVICES	ALUMNI RELATIONS	8,549
	CENTRAL AMERICA AND THE CARIBBEAN	0	0	PROGRAM SERVICES	CONFERENCES & SEMINARS	224,330
	CENTRAL AMERICA AND THE CARIBBEAN	0	0	PROGRAM SERVICES	CULTURAL EXCHANGE	1,503
	CENTRAL AMERICA AND THE CARIBBEAN	0	0	PROGRAM SERVICES	INSTRUCTION/TEACHING	19,860
	CENTRAL AMERICA AND THE CARIBBEAN	0	0	PROGRAM SERVICES	OTHER MISSION RELATED ACTIVITIES	76,272
	CENTRAL AMERICA AND THE CARIBBEAN	0	5	PROGRAM SERVICES	RESEARCH	150,633
	CENTRAL AMERICA AND THE CARIBBEAN	0	0	PROGRAM SERVICES	STUDENT RECRUITMENT	4,455
	CENTRAL AMERICA AND THE CARIBBEAN	0	0	PROGRAM SERVICES	STUDY ABROAD & OTHER EDUCATIONAL PROGRAMS	19,133
	CENTRAL AMERICA AND THE CARIBBEAN	0	0	PROGRAM SERVICES	TRAINING & CLINICAL PRACTICE	13,894
	CENTRAL AMERICA AND THE CARIBBEAN	0	0	GRANTMAKING		472,974
	CENTRAL AMERICA AND THE CARIBBEAN	0	0	INVESTMENTS		2,314,536,887
	EAST ASIA AND THE PACIFIC	1	11	PROGRAM SERVICES	ACADEMIC COLLABORATIONS	1,984,622
	EAST ASIA AND THE PACIFIC	0	0	PROGRAM SERVICES	ALUMNI RELATIONS	56,184
	EAST ASIA AND THE PACIFIC	0	0	PROGRAM SERVICES	CONFERENCES & SEMINARS	1,572,487
	EAST ASIA AND THE PACIFIC	0	0	PROGRAM SERVICES	CULTURAL EXCHANGE	86,415
	EAST ASIA AND THE PACIFIC	0	0	PROGRAM SERVICES	INSTRUCTION/TEACHING	320,547
	EAST ASIA AND THE PACIFIC	2	16	PROGRAM SERVICES	OTHER MISSION RELATED ACTIVITIES	3,625,992
	EAST ASIA AND THE PACIFIC	0	3	PROGRAM SERVICES	RESEARCH	602,542
	EAST ASIA AND THE PACIFIC	0	0	PROGRAM SERVICES	STUDENT RECRUITMENT	177,698
	EAST ASIA AND THE PACIFIC	0	0	PROGRAM SERVICES	STUDY ABROAD & OTHER EDUCATIONAL PROGRAMS	135,031
	EAST ASIA AND THE PACIFIC	0	0	PROGRAM SERVICES	TRAINING & CLINICAL PRACTICE	75,447
	EAST ASIA AND THE PACIFIC	0	0	FUNDRAISING		89,346
	EAST ASIA AND THE PACIFIC	0	0	GRANTMAKING		3,357,781
	EAST ASIA AND THE PACIFIC	0	0	INVESTMENTS		4,747,943
	EUROPE (INCLUDING ICELAND & GREENLAND)	0	8	PROGRAM SERVICES	ACADEMIC COLLABORATIONS	788,432
	EUROPE (INCLUDING ICELAND & GREENLAND)	0	0	PROGRAM SERVICES	ALUMNI RELATIONS	131,208
	EUROPE (INCLUDING ICELAND & GREENLAND)	0	0	PROGRAM SERVICES	CONFERENCES & SEMINARS	3,270,025
	EUROPE (INCLUDING ICELAND & GREENLAND)	0	2	PROGRAM SERVICES	CULTURAL EXCHANGE	119,328
	EUROPE (INCLUDING ICELAND & GREENLAND)	0	0	PROGRAM SERVICES	INSTRUCTION/TEACHING	136,952
	EUROPE (INCLUDING ICELAND & GREENLAND)	0	25	PROGRAM SERVICES	OTHER MISSION RELATED ACTIVITIES	6,222,281
	EUROPE (INCLUDING ICELAND & GREENLAND)	0	6	PROGRAM SERVICES	RESEARCH	1,301,335
	EUROPE (INCLUDING ICELAND & GREENLAND)	0	0	PROGRAM SERVICES	STUDENT RECRUITMENT	81,382
	EUROPE (INCLUDING ICELAND & GREENLAND)	0	0	PROGRAM SERVICES	STUDY ABROAD & OTHER EDUCATIONAL PROGRAMS	787,687
	EUROPE (INCLUDING ICELAND & GREENLAND)	0	0	PROGRAM SERVICES	TRAINING & CLINICAL PRACTICE	53,091
	EUROPE (INCLUDING ICELAND & GREENLAND)	0	0	FUNDRAISING		135,882
	EUROPE (INCLUDING ICELAND & GREENLAND)	0	0	GRANTMAKING		5,869,765
	EUROPE (INCLUDING ICELAND & GREENLAND)	0	0	INVESTMENTS		225,546,426
	MIDDLE EAST AND NORTH AFRICA	0	1	PROGRAM SERVICES	ACADEMIC COLLABORATIONS	32,336
	MIDDLE EAST AND NORTH AFRICA	0	0	PROGRAM SERVICES	ALUMNI RELATIONS	8,697
	MIDDLE EAST AND NORTH AFRICA	0	1	PROGRAM SERVICES	CONFERENCES & SEMINARS	248,943
	MIDDLE EAST AND NORTH AFRICA	0	0	PROGRAM SERVICES	CULTURAL EXCHANGE	4,323
	MIDDLE EAST AND NORTH AFRICA	0	0	PROGRAM SERVICES	INSTRUCTION/TEACHING	28,539
	MIDDLE EAST AND NORTH AFRICA	0	2	PROGRAM SERVICES	OTHER MISSION RELATED ACTIVITIES	35,896
	MIDDLE EAST AND NORTH AFRICA	1	2	PROGRAM SERVICES	RESEARCH	221,723
	MIDDLE EAST AND NORTH AFRICA	0	0	PROGRAM SERVICES	STUDENT RECRUITMENT	9,019
	MIDDLE EAST AND NORTH AFRICA	0	0	PROGRAM SERVICES	STUDY ABROAD & OTHER EDUCATIONAL PROGRAMS	45,618
	MIDDLE EAST AND NORTH AFRICA	0	0	PROGRAM SERVICES	TRAINING & CLINICAL PRACTICE	7,314
	MIDDLE EAST AND NORTH AFRICA	0	0	GRANTMAKING		686,122
	NORTH AMERICA	0	2	PROGRAM SERVICES	ACADEMIC COLLABORATIONS	30,758
	NORTH AMERICA	0	0	PROGRAM SERVICES	ALUMNI RELATIONS	27,609
	NORTH AMERICA	0	0	PROGRAM SERVICES	CONFERENCES & SEMINARS	704,207
	NORTH AMERICA	0	0	PROGRAM SERVICES	CULTURAL EXCHANGE	14,242
	NORTH AMERICA	0	0	PROGRAM SERVICES	INSTRUCTION/TEACHING	18,098
	NORTH AMERICA	0	12	PROGRAM SERVICES	OTHER MISSION RELATED ACTIVITIES	86,914
	NORTH AMERICA	0	6	PROGRAM SERVICES	RESEARCH	74,062
	NORTH AMERICA	0	0	PROGRAM SERVICES	STUDENT RECRUITMENT	72,581
	NORTH AMERICA	0	0	PROGRAM SERVICES	STUDY ABROAD & OTHER EDUCATIONAL PROGRAMS	8,691
	NORTH AMERICA	0	0	PROGRAM SERVICES	TRAINING & CLINICAL PRACTICE	1,310
	NORTH AMERICA	0	0	FUNDRAISING		6,193
	NORTH AMERICA	0	0	GRANTMAKING		576,915
	NORTH AMERICA	0	0	INVESTMENTS		62,922,889
	RUSSIA AND THE NEWLY INDEPENDENT STATES	0	0	PROGRAM SERVICES	ACADEMIC COLLABORATIONS	9,823
	RUSSIA AND THE NEWLY INDEPENDENT STATES	0	0	PROGRAM SERVICES	CONFERENCES & SEMINARS	40,324
	RUSSIA AND THE NEWLY INDEPENDENT STATES	0	0	PROGRAM SERVICES	CULTURAL EXCHANGE	18,797
	RUSSIA AND THE NEWLY INDEPENDENT STATES	0	0	PROGRAM SERVICES	INSTRUCTION/TEACHING	3,591
	RUSSIA AND THE NEWLY INDEPENDENT STATES	0	0	PROGRAM SERVICES	OTHER MISSION RELATED ACTIVITIES	11,905
	RUSSIA AND THE NEWLY INDEPENDENT STATES	0	2	PROGRAM SERVICES	RESEARCH	166,243
	RUSSIA AND THE NEWLY INDEPENDENT STATES	0	0	PROGRAM SERVICES	STUDY ABROAD & OTHER EDUCATIONAL PROGRAMS	14,811
	RUSSIA AND THE NEWLY INDEPENDENT STATES	0	0	GRANTMAKING		673,162
	SOUTH AMERICA	0	0	PROGRAM SERVICES	ACADEMIC COLLABORATIONS	175,288
	SOUTH AMERICA	0	0	PROGRAM SERVICES	ALUMNI RELATIONS	18,126
	SOUTH AMERICA	0	0	PROGRAM SERVICES	CONFERENCES & SEMINARS	166,915
	SOUTH AMERICA	0	0	PROGRAM SERVICES	CULTURAL EXCHANGE	31,816
	SOUTH AMERICA	0	0	PROGRAM SERVICES	INSTRUCTION/TEACHING	13,640
	SOUTH AMERICA	0	9	PROGRAM SERVICES	OTHER MISSION RELATED ACTIVITIES	61,940
	SOUTH AMERICA	0	1	PROGRAM SERVICES	RESEARCH	272,639
	SOUTH AMERICA	0	0	PROGRAM SERVICES	STUDENT RECRUITMENT	66,893
	SOUTH AMERICA	0	0	PROGRAM SERVICES	STUDY ABROAD & OTHER EDUCATIONAL PROGRAMS	44,823
	SOUTH AMERICA	0	0	PROGRAM SERVICES	TRAINING & CLINICAL PRACTICE	10,565
	SOUTH AMERICA	0	0	GRANTMAKING		1,938,272
	SOUTH AMERICA	0	0	INVESTMENTS		4,287,501
	SOUTH ASIA	0	0	PROGRAM SERVICES	ACADEMIC COLLABORATIONS	38,403
	SOUTH ASIA	0	0	PROGRAM SERVICES	ALUMNI RELATIONS	33,259
	SOUTH ASIA	0	0	PROGRAM SERVICES	CONFERENCES & SEMINARS	86,293
	SOUTH ASIA	0	0	PROGRAM SERVICES	CULTURAL EXCHANGE	1,810
	SOUTH ASIA	0	0	PROGRAM SERVICES	INSTRUCTION/TEACHING	12,372
	SOUTH ASIA	0	3	PROGRAM SERVICES	OTHER MISSION RELATED ACTIVITIES	39,376
	SOUTH ASIA	0	1	PROGRAM SERVICES	RESEARCH	179,063
	SOUTH ASIA	0	0	PROGRAM SERVICES	STUDENT RECRUITMENT	74,358
	SOUTH ASIA	0	0	PROGRAM SERVICES	STUDY ABROAD & OTHER EDUCATIONAL PROGRAMS	50,559
	SOUTH ASIA	0	0	PROGRAM SERVICES	TRAINING & CLINICAL PRACTICE	16,638
	SOUTH ASIA	0	0	FUNDRAISING		16,614
	SOUTH ASIA	0	0	GRANTMAKING		720,078
	SOUTH ASIA	0	0	INVESTMENTS		55,230
	SUB-SAHARAN AFRICA	0	3	PROGRAM SERVICES	ACADEMIC COLLABORATIONS	71,926
	SUB-SAHARAN AFRICA	0	0	PROGRAM SERVICES	ALUMNI RELATIONS	10,209
	SUB-SAHARAN AFRICA	0	1	PROGRAM SERVICES	CONFERENCES & SEMINARS	266,011
	SUB-SAHARAN AFRICA	0	0	PROGRAM SERVICES	CULTURAL EXCHANGE	30,970
	SUB-SAHARAN AFRICA	0	1	PROGRAM SERVICES	INSTRUCTION/TEACHING	154,235
	SUB-SAHARAN AFRICA	0	3	PROGRAM SERVICES	OTHER MISSION RELATED ACTIVITIES	48,975
	SUB-SAHARAN AFRICA	1	32	PROGRAM SERVICES	RESEARCH	2,189,150
	SUB-SAHARAN AFRICA	0	0	PROGRAM SERVICES	STUDENT RECRUITMENT	62,094
	SUB-SAHARAN AFRICA	0	0	PROGRAM SERVICES	STUDY ABROAD & OTHER EDUCATIONAL PROGRAMS	35,884
	SUB-SAHARAN AFRICA	0	0	PROGRAM SERVICES	TRAINING & CLINICAL PRACTICE	268,484
	SUB-SAHARAN AFRICA	0	0	FUNDRAISING		12,482
	SUB-SAHARAN AFRICA	0	0	GRANTMAKING		1,469,455
	SUB-SAHARAN AFRICA	0	0	INVESTMENTS		339,956,006
3a	Sub-total .....	0	5			521,534
b	Total from continuation sheets to Part I ...	5	153			2,996,118,724
c	Totals (add lines 3a and 3b)	5	158			2,996,640,258

For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2015

Schedule F (Form 990) 2015

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
CENTRAL AMERICA AND THE CARIBBEAN	SUBAWARD - SPONSORED RESEARCH	23,181	WIRE
CENTRAL AMERICA AND THE CARIBBEAN	SUBAWARD - SPONSORED RESEARCH	173,196	WIRE
EAST ASIA AND THE PACIFIC	SUBAWARD - SPONSORED RESEARCH	29,019	WIRE
EAST ASIA AND THE PACIFIC	SUBAWARD - SPONSORED RESEARCH	159,652	WIRE
EAST ASIA AND THE PACIFIC	SUBAWARD - SPONSORED RESEARCH	6,247	WIRE
EAST ASIA AND THE PACIFIC	SUBAWARD - SPONSORED RESEARCH	120,700	WIRE
EAST ASIA AND THE PACIFIC	SUBAWARD - SPONSORED RESEARCH	91,187	WIRE
EAST ASIA AND THE PACIFIC	SUBAWARD - SPONSORED RESEARCH	7,034	WIRE
EAST ASIA AND THE PACIFIC	SUBAWARD - SPONSORED RESEARCH	57,332	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	14,573	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	38,437	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	13,015	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	13,760	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	14,710	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	10,154	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	47,054	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	41,462	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	40,327	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	6,482	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	5,645	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	907,329	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	7,050	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	5,650	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	32,323	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	37,133	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	6,073	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	75,791	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	164,736	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	6,099	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	21,257	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	24,000	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	129,773	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	45,386	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	137,066	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	5,160	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	56,691	WIRE
EUROPE (INCL. ICELAND AND GREENLAND)	SUBAWARD - SPONSORED RESEARCH	22,585	WIRE
MIDDLE EAST AND NORTH AFRICA	SUBAWARD - SPONSORED RESEARCH	63,028	WIRE
MIDDLE EAST AND NORTH AFRICA	SUBAWARD - SPONSORED RESEARCH	120,000	WIRE
MIDDLE EAST AND NORTH AFRICA	SUBAWARD - SPONSORED RESEARCH	5,057	WIRE
MIDDLE EAST AND NORTH AFRICA	SUBAWARD - SPONSORED RESEARCH	21,964	WIRE
NORTH AMERICA	SUBAWARD - SPONSORED RESEARCH	63,512	WIRE
NORTH AMERICA	SUBAWARD - SPONSORED RESEARCH	144,800	WIRE
NORTH AMERICA	SUBAWARD - SPONSORED RESEARCH	65,615	WIRE
NORTH AMERICA	SUBAWARD - SPONSORED RESEARCH	38,133	WIRE
NORTH AMERICA	SUBAWARD - SPONSORED RESEARCH	84,401	WIRE
RUSSIA AND THE NEWLY INDEPENDENT STATES	SUBAWARD - SPONSORED RESEARCH	24,993	WIRE
RUSSIA AND THE NEWLY INDEPENDENT STATES	SUBAWARD - SPONSORED RESEARCH	376,047	WIRE
RUSSIA AND THE NEWLY INDEPENDENT STATES	SUBAWARD - SPONSORED RESEARCH	79,567	WIRE
RUSSIA AND THE NEWLY INDEPENDENT STATES	SUBAWARD - SPONSORED RESEARCH	18,586	WIRE
SOUTH AMERICA	SUBAWARD - SPONSORED RESEARCH	189,953	WIRE
SOUTH AMERICA	SUBAWARD - SPONSORED RESEARCH	339,831	WIRE
SOUTH AMERICA	SUBAWARD - SPONSORED RESEARCH	34,197	WIRE
SOUTH AMERICA	SUBAWARD - SPONSORED RESEARCH	209,184	WIRE
SOUTH AMERICA	SUBAWARD - SPONSORED RESEARCH	184,591	WIRE
SOUTH ASIA	SUBAWARD - SPONSORED RESEARCH	17,820	WIRE
SOUTH ASIA	SUBAWARD - SPONSORED RESEARCH	397,218	WIRE
SOUTH ASIA	SUBAWARD - SPONSORED RESEARCH	18,701	WIRE
SUB-SAHARAN AFRICA	SUBAWARD - SPONSORED RESEARCH	21,500	WIRE
SUB-SAHARAN AFRICA	SUBAWARD - SPONSORED RESEARCH	38,251	WIRE
SUB-SAHARAN AFRICA	SUBAWARD - SPONSORED RESEARCH	9,157	WIRE
SUB-SAHARAN AFRICA	SUBAWARD - SPONSORED RESEARCH	16,991	WIRE
SUB-SAHARAN AFRICA	SUBAWARD - SPONSORED RESEARCH	300,305	WIRE
SUB-SAHARAN AFRICA	SUBAWARD - SPONSORED RESEARCH	17,667	WIRE
SUB-SAHARAN AFRICA	SUBAWARD - SPONSORED RESEARCH	53,637	WIRE
SUB-SAHARAN AFRICA	SUBAWARD - SPONSORED RESEARCH	228,757	WIRE
SUB-SAHARAN AFRICA	SUBAWARD - SPONSORED RESEARCH	69,813	WIRE
SUB-SAHARAN AFRICA	SUBAWARD - SPONSORED RESEARCH	9,197	WIRE
SUB-SAHARAN AFRICA	SUBAWARD - SPONSORED RESEARCH	132,468	WIRE
SUB-SAHARAN AFRICA	SUBAWARD - SPONSORED RESEARCH	59,927	WIRE
SUB-SAHARAN AFRICA	SUBAWARD - SPONSORED RESEARCH	82,371	WIRE

2	Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter .......	20
3	Enter total number of other organizations or entities .......................	51

Schedule F (Form 990) 2015

Schedule F (Form 990) 2015Page 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
FELLOWSHIPS	CENTRAL AMERICA AND THE CARIBBEAN	48	203,304	CHECK, ELECTRONIC FUND OR WIRE TRANSFER
FELLOWSHIPS	EAST ASIA AND THE PACIFIC	257	2,388,101	CHECK, ELECTRONIC FUND OR WIRE TRANSFER
FELLOWSHIPS	EUROPE (INCLUDING ICELAND AND GREENLAND)	399	2,580,680	CHECK, ELECTRONIC FUND OR WIRE TRANSFER
FELLOWSHIPS	MIDDLE EAST AND NORTH AFRICA	65	328,435	CHECK, ELECTRONIC FUND OR WIRE TRANSFER
FELLOWSHIPS	NORTH AMERICA	11	38,546	CHECK, ELECTRONIC FUND OR WIRE TRANSFER
FELLOWSHIPS	RUSSIA AND THE NEWLY INDEPENDENT STATES	25	106,260	CHECK, ELECTRONIC FUND OR WIRE TRANSFER
FELLOWSHIPS	SOUTH AMERICA	92	476,528	CHECK, ELECTRONIC FUND OR WIRE TRANSFER
FELLOWSHIPS	SOUTH ASIA	41	162,831	CHECK, ELECTRONIC FUND OR WIRE TRANSFER
FELLOWSHIPS	SUB-SAHARAN AFRICA	66	321,930	CHECK, ELECTRONIC FUND OR WIRE TRANSFER
STUDENT STIPENDS	CENTRAL AMERICA AND THE CARIBBEAN	13	54,820	ELECTRONIC FUND OR WIRE TRANSFER
STUDENT STIPENDS	EAST ASIA AND THE PACIFIC	71	244,910	ELECTRONIC FUND OR WIRE TRANSFER
STUDENT STIPENDS	EUROPE (INCLUDING ICELAND AND GREENLAND)	85	597,309	ELECTRONIC FUND OR WIRE TRANSFER
STUDENT STIPENDS	MIDDLE EAST AND NORTH AFRICA	13	55,471	ELECTRONIC FUND OR WIRE TRANSFER
STUDENT STIPENDS	NORTH AMERICA	16	60,625	ELECTRONIC FUND OR WIRE TRANSFER
STUDENT STIPENDS	RUSSIA AND THE NEWLY INDEPENDENT STATES	3	54,000	ELECTRONIC FUND OR WIRE TRANSFER
STUDENT STIPENDS	SOUTH AMERICA	37	217,331	ELECTRONIC FUND OR WIRE TRANSFER
STUDENT STIPENDS	SOUTH ASIA	7	55,490	ELECTRONIC FUND OR WIRE TRANSFER
STUDENT STIPENDS	SUB-SAHARAN AFRICA	35	57,088	ELECTRONIC FUND OR WIRE TRANSFER
SCHOLARSHIPS	CENTRAL AMERICA AND THE CARIBBEAN	1	18,473	CHECK
SCHOLARSHIPS	EAST ASIA AND THE PACIFIC	16	175,369	CHECK
SCHOLARSHIPS	EUROPE (INCLUDING ICELAND AND GREENLAND)	41	692,160	CHECK
SCHOLARSHIPS	MIDDLE EAST AND NORTH AFRICA	10	87,815	CHECK
SCHOLARSHIPS	NORTH AMERICA	7	69,050	CHECK
SCHOLARSHIPS	RUSSIA AND THE NEWLY INDEPENDENT STATES	1	10,445	CHECK
SCHOLARSHIPS	SOUTH AMERICA	20	272,513	CHECK
SCHOLARSHIPS	SOUTH ASIA	6	61,490	CHECK
SCHOLARSHIPS	SUB-SAHARAN AFRICA	4	50,396	CHECK
OTHER ASSISTANCE - HEALTH FEES	EAST ASIA AND THE PACIFIC	54	78,230	CHECK
OTHER ASSISTANCE - HEALTH FEES	EUROPE (INCLUDING ICELAND AND GREENLAND)	35	69,897	CHECK
OTHER ASSISTANCE - HEALTH FEES	MIDDLE EAST AND NORTH AFRICA	2	4,352	CHECK
OTHER ASSISTANCE - HEALTH FEES	NORTH AMERICA	5	12,233	CHECK
OTHER ASSISTANCE - HEALTH FEES	RUSSIA AND THE NEWLY INDEPENDENT STATES	2	3,264	CHECK
OTHER ASSISTANCE - HEALTH FEES	SOUTH AMERICA	10	14,144	CHECK
OTHER ASSISTANCE - HEALTH FEES	SOUTH ASIA	4	6,528	CHECK

Schedule F (Form 990) 2015

Page 4

Part IV

Foreign Forms

Schedule F (Form 990) 2015

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
SCHEDULE F, PART I, LINE 2:	WITH RESPECT TO SPONSORED PROJECT ACTIVITY SUBCONTRACTED TO OTHER ENTITIES, THE UNIVERSITY'S POLICY AND PROCEDURES FOR MONITORING SUB RECIPIENT AWARDS ("SUBWARDS") ARE INTENDED TO ESTABLISH APPROPRIATE AND EFFECTIVE MECHANISMS TO PROMOTE COMPLIANCE WITH FEDERAL AND NON-FEDERAL REQUIREMENTS AND CONTRACTUAL ARRANGEMENTS, INCLUDING THE PROPER MONITORING AND STEWARDSHIP OF AWARDED FUNDS. PROPER MONITORING OF A SUBAWARD ENSURES THAT AWARDED FUNDS ARE USED FOR AUTHORIZED PURPOSES, PERFORMANCE GOALS ARE MET AND THE SUB RECIPIENT IS IN COMPLIANCE WITH THE TERMS AND CONDITIONS OF THE SUB RECIPIENT AGREEMENT. SUB RECIPIENT MONITORING PROCEDURES INCLUDE BUT ARE NOT LIMITED TO THE FOLLOWING ACTIVITIES: A FORMAL PRE-QUALIFICATION PROCESS FOR SUB RECIPIENTS, PRE-AWARD AND POST-AWARD MONITORING OF SUB RECIPIENTS TO REVIEW THE FINANCIAL STATUS AND MANAGEMENT CONTROLS, COMPLIANCE CERTIFICATIONS, REVIEW OF COMPLIANCE WITH REGULATIONS RELATIVE TO THE USE OF HUMAN SUBJECTS AND ANIMALS, IDENTIFICATION AND MANAGEMENT OF ANY CONFLICT OF INTEREST WITH A SUB RECIPIENT ENTITY, AND A REVIEW OF PERTINENT OTHER ORGANIZATION INFORMATION. IN ACCORDANCE WITH THESE PROCEDURES, THE UNIVERSITY REVIEWS THE SUB RECIPIENT'S ADMINISTRATION, FINANCIAL STATEMENTS, BILLINGS, SCIENTIFIC PROGRESS, TECHNICAL REPORTS, AND DELIVERABLES OF AN ACTIVE SUBAWARD REGULARLY AND CONDUCTS ON-GOING RISK ASSESSMENTS AS WELL AS QUARTERLY QUALITY ASSURANCE REVIEWS ON RANDOMLY SELECTED SUBAWARDS. IN ADDITION TO A MONTHLY DEPARTMENTAL REVIEW, THE UNIVERSITY MONITORS A SUB RECIPIENT'S COMPLIANCE WITH THE TERMS AND CONDITIONS OF THE SUBAWARD ANNUALLY AND UPON CLOSEOUT OF THE SUB RECIPIENT AGREEMENT. IF ANY OF THESE MONITORING PROCEDURES RESULT IN FINDINGS, THE UNIVERSITY WILL TAKE CORRECTIVE ACTION AS NECESSARY. THE PROCEDURES SERVE TO ENSURE THAT THE SUBAWARDS ARE USED FOR PROPER PURPOSES AND NOT DIVERTED FROM THEIR INTENDED USE.
SCHEDULE F, PART I, LINE 3:	PURSUANT TO THE FORM INSTRUCTIONS, THE FOLLOWING IS A BREAKOUT OF AMOUNTS PROVIDED AS INVESTMENTS: INVESTMENTS EXPENDITURES CENTRAL AMERICA AND THE CARIBBEAN 2,285,714,848 28,822,039 EAST ASIA AND THE PACIFIC 4,493,426 254,517 EUROPE (INCLUDING ICELAND & GREENLAND) 225,168,816 377,610 NORTH AMERICA 62,899,367 23,522 SOUTH AMERICA 0 4,287,501 SOUTH ASIA 0 55,230 SUB-SAHARAN AFRICA 339,956,006 0
SCHEDULE F, PART II, LINE 3:	THE TOTAL NUMBER REPORTED ON LINE 3 INCLUDES TAX-EXEMPT ORGANIZATIONS AND PUBLIC INSTITUTIONS. MOST OF THE SUBAWARD RECIPIENTS ARE UNIVERSITIES, HOSPITALS, AND RESEARCH INSTITUTIONS.
SCHEDULE F, PART II:	A SUBAWARD IS AN AWARD OF FINANCIAL SUPPORT FROM THE UNIVERSITY TO A QUALIFIED THIRD PARTY PRIMARILY TO PERFORM RESEARCH AND OTHER RELATED PROGRAMMATIC EFFORTS UNDER A SPONSORED RESEARCH PROJECT. SCHEDULE F, PART III, COLUMNS (C) AND (D): THE AMOUNTS REPORTED IN COLUMNS (C) AND (D) REPRESENT AN ESTIMATE OF TOTAL AWARDS FOR THE FISCAL YEAR ENDED JUNE 30, 2016 BASED ON INFORMATION PROVIDED BY THE UNIVERSITY'S UNDERGRADUATE, GRADUATE AND PROFESSIONAL SCHOOLS. SOME STUDENTS RECEIVED MORE THAN ONE AWARD DURING THE FISCAL YEAR ENDED JUNE 30, 2016.
SCHEDULE F, PART I, II, AND III:	THE UNIVERSITY'S FINANCIAL STATEMENTS ARE PREPARED USING THE ACCRUAL BASIS OF ACCOUNTING. AMOUNTS LISTED IN PART I, PART II, AND PART III ARE REPORTED ON THE ACCRUAL BASIS OF ACCOUNTING.

Schedule F (Form 990) 2015

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" on 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

2015

Open to Public Inspection

Name of the organization
YALE UNIVERSITY

Employer identification number

06-0646973

Part I

Fundraising Activities. Complete if the organization answered "Yes" on 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?

YesNo

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)	(iii) Did fundraiser have custody or control of contributions?
	Yes	No










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

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 990 or 990-EZ.

Cat. No. 50083H

Schedule G (Form 990 or 990-EZ) 2015

Page 2

Part II

Fundraising Events. Complete if the organization answered "Yes" on 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 GOLF OUTING (event type)	(b) Event #2 GOLF OUTING (event type)	(c) Other events 11 (total number)	(d) Total events (add col. (a) through col. (c))
1	Gross receipts . . . . .	250,362	77,090	402,129	729,581
2	Less: Contributions . . . .	215,558	53,525	132,464	401,547
3	Gross income (line 1 minus line 2) . . . . . .	34,804	23,565	269,665	328,034

4	Cash prizes . . . . .
5	Noncash prizes . . . .	4,007	2,973	31,262	38,242
6	Rent/facility costs . . . .	7,560	11,003	20,786	39,349
7	Food and beverages . . .	16,014	9,812	144,180	170,006
8	Entertainment . . . .
9	Other direct expenses . . .	13,655	1,304	30,647	45,606
10	Direct expense summary. Add lines 4 through 9 in column (d) . . . . . . . . . .				293,203
11	Net income summary. Subtract line 10 from line 3, column (d). . . . . . . . . .				34,831

Part III

Gaming. Complete if the organization answered "Yes" on 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))
1	Gross revenue . . . . .

2	Cash prizes . . . . .
3	Noncash prizes . . . .
4	Rent/facility costs . . . .
5	Other direct expenses . . .	13,655	1,304	30,647	45,606

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) 2015

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 activity 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 complete this part to provide any additional information (see instructions).

Return Reference	Explanation

Schedule G (Form 990 or 990-EZ) 2015

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," on 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

2015

Open to Public
Inspection

Name of the organization
YALE UNIVERSITY

Employer identification number
06-0646973

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" on 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	(e) Amount of non-cash assistance	(f) Method of valuation (book, FMV, appraisal, other)	(g) Description of non-cash assistance	(h) Purpose of grant or assistance

(1) AIDS PROJECT NEW HAVEN INC 1302 CHAPEL STREET NEW HAVEN,CT06511	22-2506184	501(C)(3)	478,992	SUBAWARD - SPONSORED RESEARCH
(2) ALERE WELLBEING INC 999 THIRD AVENUE SUITE 2700 SEATTLE,WA98104	20-0231080		30,866	SUBAWARD - SPONSORED RESEARCH
(3) ALLIANCE FOR EPILEPSY RESEARCH 18522 S STATE ROUTE D BELTON,MO64012	43-1760017	501(C)(3)	20,000	SUBAWARD - SPONSORED RESEARCH
(4) AMERICAN COLLEGE OF RADIOLOGY 1818 MARKET STREET SUITE 1720 PHILADELPHIA,PA19103	36-2261602	501(C)(3)	24,737	SUBAWARD - SPONSORED RESEARCH
(5) AMERICAN PSYCHOSOCIAL ONCOLOGY SOCIETY 154 HANSEN ROAD SUITE 201 CHARLOTTESVILLE,VA22911	04-3720121	501(C)(3)	83,174	SUBAWARD - SPONSORED RESEARCH
(6) AMERICAN NATIONAL RED CROSS & ITS CONSTITUENT CHAPTERS AND BRANCHES 2025 E STREET NW WASHINGTON,DC200065009	53-0196605	501(C)(3)	585,772	SUBAWARD - SPONSORED RESEARCH
(7) ANN & ROBERT H LURIE CHILDRENS HOSPITAL OF CHICAGO 225 EAST CHICAGO AVENUE BOX 205 CHICAGO,IL606112606	36-2170833	501(C)(3)	46,195	SUBAWARD - SPONSORED RESEARCH
(8) APT FOUNDATION INC ONE LONG WHARF DRIVE SUITE 321 NEW HAVEN,CT06511	23-7061218	501(C)(3)	582,168	SUBAWARD - SPONSORED RESEARCH
(9) ARIZONA STATE UNIVERSITY PO BOX 876011 TEMPE,AZ852876011	86-0196696	STATE OF AZ	48,789	SUBAWARD - SPONSORED RESEARCH
(10) ATLANTA RESEARCH & EDUCATION FOUNDATION INC 1902 CLAIRMONT ROAD DECATUR,GA30033	58-1857346	501(C)(3)	126,958	SUBAWARD - SPONSORED RESEARCH
(11) BALTIMORE RESEARCH & EDUCATION FOUNDATION INC 10 NORTH GREENE STREET BALTIMORE,MD21201	52-1705976	501(C)(3)	54,767	SUBAWARD - SPONSORED RESEARCH
(12) BANNER HEALTH 901 E WILLETTA STREET PHOENIX,AZ85006	45-0233470	501(C)(3)	88,450	SUBAWARD - SPONSORED RESEARCH
(13) BAYLOR COLLEGE OF MEDICINE ONE BAYLOR PLAZA HOUSTON,TX77030	74-1613878	501(C)(3)	515,460	SUBAWARD - SPONSORED RESEARCH
(14) BAYLOR UNIVERSITY ONE BEAR PLACE 97041 WACO,TX767987041	74-1159753	501(C)(3)	350,868	SUBAWARD - SPONSORED RESEARCH
(15) BAYSTATE MEDICAL CENTER INC 759 CHESTNUT STREET SPRINGFIELD,MA01199	04-2790311	501(C)(3)	27,490	SUBAWARD - SPONSORED RESEARCH
(16) BECKMAN RESEARCH INSTITUTE OF THE CITY OF HOPE 1500 E DUARTE ROAD DUARTE,CA910103000	95-3432210	501(C)(3)	9,890	SUBAWARD - SPONSORED RESEARCH
(17) BETH ISRAEL DEACONESS MEDICAL CENTER 330 BROOKLINE AVENUE BOSTON,MA02215	04-2103881	501(C)(3)	333,980	SUBAWARD - SPONSORED RESEARCH
(18) BLOODWORKS 1551 EASTLAKE AVENUE SUITE 100 SEATTLE,WA98102	91-1019655	501(C)(3)	31,556	SUBAWARD - SPONSORED RESEARCH
(19) BOARD OF REGENTS NEVADA SYSTEM OF HIGHER EDUCATION 4505 MARYLAND PARKWAY LAS VEGAS,NV89154	88-6000024	501(C)(3)	44,400	SUBAWARD - SPONSORED RESEARCH
(20) BOYCE THOMPSON INSTITUTE FOR PLANT RESEARCH INC 533 TOWER ROAD ITHACA,NY14853	13-1739923	501(C)(3)	93,300	SUBAWARD - SPONSORED RESEARCH
(21) BRANDEIS UNIVERSITY PO BOX 549110 WALTHAM,MA024549110	04-2103552	501(C)(3)	66,151	SUBAWARD - SPONSORED RESEARCH
(22) BRENTWOOD BIOMEDICAL RESEARCH INSTITUTE INC PO BOX 25027 LOS ANGELES,CA90025	95-4183712	501(C)(3)	74,186	SUBAWARD - SPONSORED RESEARCH
(23) BRIDGEPORT BOARD OF EDUCATION 45 LYON TERRACE BRIDGEPORT,CT06604	06-6001865	CITY-BRIDGEPORT	207,627	SUBAWARD - SPONSORED RESEARCH
(24) BRIDGEPORT HOSPITAL 267 GRANT STREET BRIDGEPORT,CT06610	06-0646554	501(C)(3)	50,712	SUBAWARD - SPONSORED RESEARCH
(25) BRIGHAM & WOMEN'S HOSPITAL 399 REVOLUTION DRIVE SUITE 645 SOMERVILLE,MA02145	04-2312909	501(C)(3)	76,715	SUBAWARD - SPONSORED RESEARCH
(26) BROOKHAVEN NATIONAL LABORATORY 20 BROOKHAVEN AVENUE UPTON,NY119735000	11-3403915	US GOVT	89,166	SUBAWARD - SPONSORED RESEARCH
(27) BROWN UNIVERSITY PO BOX 1911 PROVIDENCE,RI02912	05-0258809	501(C)(3)	1,217,540	SUBAWARD - SPONSORED RESEARCH
(28) CARNEGIE MELLON UNIVERSITY PO BOX 371032 PITTSBURGH,PA152507032	25-0969449	501(C)(3)	17,459	SUBAWARD - SPONSORED RESEARCH
(29) CEDARS-SINAI MEDICAL CENTER 8700 BEVERLY BOULEVARD LOS ANGELES,CA90048	95-1644600	501(C)(3)	52,442	SUBAWARD - SPONSORED RESEARCH
(30) CHILDREN'S HOSPITAL CORPORATION 300 LONGWOOD AVENUE BOSTON,MA02115	04-2774441	501(C)(3)	862,297	SUBAWARD - SPONSORED RESEARCH
(31) CHILDREN'S HOSPITAL LOS ANGELES 4650 SUNSET BOULEVARD LOS ANGELES,CA90027	95-1690977	501(C)(3)	75,035	SUBAWARD - SPONSORED RESEARCH
(32) CHILDREN'S HOSPITAL MEDICAL CENTER 3333 BURNET AVENUE CINCINNATI,OH45229	31-0833936	501(C)(3)	66,338	SUBAWARD - SPONSORED RESEARCH
(33) CHILDREN'S RESEARCH INSTITUTE 111 MICHIGAN AVENUE NW WASHINGTON,DC200102970	52-1654453	501(C)(3)	55,267	SUBAWARD - SPONSORED RESEARCH
(34) CITY OF NEW HAVEN 54 MEADOW STREET NEW HAVEN,CT06519	06-6001876	CITY-NEW HAVEN	615,531	SUBAWARD - SPONSORED RESEARCH
(35) CLIFFORD W BEERS GUIDANCE CLINIC INC 93 EDWARDS STREET NEW HAVEN,CT06511	06-0646757	501(C)(3)	282,420	SUBAWARD - SPONSORED RESEARCH
(36) COLORADO SCHOOL OF MINES PO BOX 911911 DENVER,CO802911911	84-6000551	STATE OF CO	352,437	SUBAWARD - SPONSORED RESEARCH
(37) COLORADO STATE UNIVERSITY 2002 CAMPUS DELIVERY FORT COLLINS,CO805232002	84-6000545	STATE OF CO	100,528	SUBAWARD - SPONSORED RESEARCH
(38) COLUMBIA UNIVERSITY 615 WEST 131ST STREET NEW YORK,NY10027	13-5598093	501(C)(3)	1,102,201	SUBAWARD - SPONSORED RESEARCH
(39) COMMUNITY HEALTH CENTER 635 MAIN STREET MIDDLETOWN,CT06457	06-0897105	501(C)(3)	40,000	SUBAWARD - SPONSORED RESEARCH
(40) CORNELL SCOTT-HILL HEALTH CORPORATION 400 COLUMBUS AVENUE 2ND FLOOR NEW HAVEN,CT06519	06-0870990	501(C)(3)	184,419	SUBAWARD - SPONSORED RESEARCH
(41) CORNELL UNIVERSITY PO BOX 22 ITHACA,NY148510022	15-0532082	501(C)(3)	652,255	SUBAWARD - SPONSORED RESEARCH
(42) CSU FULLERTON AUXILIARY SERVICES COROPORATION 2600 NUTWOOD AVENUE FULLERTON,CA92831	95-2081258	501(C)(3)	10,100	SUBAWARD - SPONSORED RESEARCH
(43) DALLAS VA RESEARCH CORPORATION PO BOX 397776 DALLAS,TX75339	75-2329831	501(C)(3)	80,036	SUBAWARD - SPONSORED RESEARCH
(44) DANA-FARBER CANCER INSTITUTE INC 450 BROOKLINE AVENUE BOSTON,MA02215	04-2263040	501(C)(3)	7,171	SUBAWARD - SPONSORED RESEARCH
(45) DARTMOUTH COLLEGE 11 ROPE FERRY ROAD HANOVER,NH037551404	02-0222111	501(C)(3)	48,093	SUBAWARD - SPONSORED RESEARCH
(46) DONALD DANFORTH PLANT SCIENCE CENTER 975 NORTH WATSON ROAD ST LOUIS,MO63132	31-1584621	501(C)(3)	526,630	SUBAWARD - SPONSORED RESEARCH
(47) DUKE UNIVERSITY 324 BLACKWELL STREET DURHAM,NC27701	56-0532129	501(C)(3)	1,198,394	SUBAWARD - SPONSORED RESEARCH
(48) EAST CAROLINA UNIVERSITY 2200 S CHARLES BLVD GREENVILLE,NC278584353	56-6000403	STATE OF NC	29,845	SUBAWARD - SPONSORED RESEARCH
(49) EDUCATION DEVELOPMENT CENTER INC 43 FOUNDRY AVENUE WALTHAM,MA024538313	04-2241718	501(C)(3)	37,511	SUBAWARD - SPONSORED RESEARCH
(50) EMORY UNIVERSITY PO BOX 935084 ATLANTA,GA311935084	58-0566256	501(C)(3)	197,533	SUBAWARD - SPONSORED RESEARCH
(51) FAIR HAVEN COMMUNITY HEALTH CLINIC INC 374 GRAND AVENUE NEW HAVEN,CT06513	06-0883545	501(C)(3)	342,372	SUBAWARD - SPONSORED RESEARCH
(52) GEORGE MASON UNIVERSITY 4400 UNIVERSITY DRIVE FAIRFAX,VA22030	54-0836354	STATE OF VA	223,301	SUBAWARD - SPONSORED RESEARCH
(53) GEORGIA REGENTS RESEARCH INSTITUTE INC PO BOX 945552 ATLANTA,GA30394	58-1418202	501(C)(3)	126,831	SUBAWARD - SPONSORED RESEARCH
(54) GLOBAL HEALTHY LIVING FOUNDATION INC 515 N MIDLAND AVENUE UPPER NYACK,NY10960	20-4039120	501(C)(3)	16,349	SUBAWARD - SPONSORED RESEARCH
(55) GRIFFIN HOSPITAL 130 DIVISION STREET DERBY,CT06418	06-0647014	501(C)(3)	835,841	SUBAWARD - SPONSORED RESEARCH
(56) H LEE MOFFITT CANCER CENTER AND RESEARCH INSTITUTE HOSPITAL INC 12902 MAGNOLIA DRIVE TAMPA,FL33612	59-3238634	501(C)(3)	11,710	SUBAWARD - SPONSORED RESEARCH
(57) HARTFORD HOSPITAL 80 SEYMOUR STREET HARTFORD,CT061025037	06-0646668	501(C)(3)	1,006,611	SUBAWARD - SPONSORED RESEARCH
(58) HENRY M JACKSON FOUNDATION FOR THE ADVANCEMENT OF MILITARY MEDICINE 6720A ROCKLEDGE DRIVE SUITE 100 BETHESDA,MD20817	52-1317896	501(C)(3)	119,515	SUBAWARD - SPONSORED RESEARCH
(59) HYPERTROPHIC CARDIOMYOPATHY ASSOCIATION 322 GREEN POND ROAD SUITE 200 HIBERNIA,NJ07842	41-1855605	501(C)(3)	9,661	SUBAWARD - SPONSORED RESEARCH
(60) ICAHN SCHOOL OF MEDICINE AT MOUNT SINAI 1 GUSTAVE L LEVY PLACE NEW YORK,NY100296574	13-6171197	501(C)(3)	65,574	SUBAWARD - SPONSORED RESEARCH
(61) ILLINOIS INSTITUTE OF TECHNOLOGY 7562 SOLUTION CENTER CHICAGO,IL606777005	36-2170136	501(C)(3)	14,403	SUBAWARD - SPONSORED RESEARCH
(62) INDIANA UNIVERSITY 400 EAST SEVENTH STREET BLOOMINGTON,IN47405	35-6001673	501(C)(3)	22,837	SUBAWARD - SPONSORED RESEARCH
(63) INNOVATIONS FOR POVERTY ACTION 101 WHITNEY AVENUE NEW HAVEN,CT06510	06-1660068	501(C)(3)	1,333,729	SUBAWARD - SPONSORED RESEARCH
(64) INSTITUTE FOR CLINICAL RESEARCH INC PO BOX 29545 WASHINGTON,DC200170745	52-1336656	501(C)(3)	108,035	SUBAWARD - SPONSORED RESEARCH
(65) INSTITUTE FOR COMMUNITY RESEARCH INC 2 HARTFORD SQUARE WEST SUITE 100 HARTFORD,CT061065128	06-0653116	501(C)(3)	43,882	SUBAWARD - SPONSORED RESEARCH
(66) IOWA STATE UNIVERSITY OF SCIENCE AND TECHNOLOGY 3609 ADMINISTRATIVE SVCS BLDG AMES,IA500113609	42-6004224	STATE OF IA	101,549	SUBAWARD - SPONSORED RESEARCH
(67) J CRAIG VENTER INSTITUTE 9704 MEDICAL CENTER DRIVE ROCKVILLE,MD20850	52-1842938	501(C)(3)	461,744	SUBAWARD - SPONSORED RESEARCH
(68) JOHNS HOPKINS UNIVERSITY 3910 KESWICK ROAD BALTIMORE,MD21211	52-0595110	501(C)(3)	401,230	SUBAWARD - SPONSORED RESEARCH
(69) JOSLIN DIABETES CENTER INC ONE JOSLIN PLACE BOSTON,MA022155306	04-2203836	501(C)(3)	24,000	SUBAWARD - SPONSORED RESEARCH
(70) JUNTA FOR PROGRESSIVE ACTION INC 169 GRAND AVENUE NEW HAVEN,CT06513	23-7066862	501(C)(3)	120,151	SUBAWARD - SPONSORED RESEARCH
(71) KAISER FOUNDATION HOSPITALS 1800 HARRISON STREET OAKLAND,CA946123433	94-1105628	501(C)(3)	48,289	SUBAWARD - SPONSORED RESEARCH
(72) LIBERTY COMMUNITY SERVICES 129 CHURCH STREET NEW HAVEN,CT06510	22-2849124	501(C)(3)	261,666	SUBAWARD - SPONSORED RESEARCH
(73) LOVELACE BIOMEDICAL AND ENVIRONMENTAL INSTITUTE 2425 RIDGECREST DRIVE SE ALBUQUERQUE,NM87108	51-0154068	501(C)(3)	9,060	SUBAWARD - SPONSORED RESEARCH
(74) MASSACHUSETTS GENERAL HOSPITAL 50 STANIFORD STREET BOSTON,MA02114	04-2697983	501(C)(3)	1,917,889	SUBAWARD - SPONSORED RESEARCH
(75) MASSACHUSETTS INSTITUTE OF TECHNOLOGY 77 MASSACHUSETTS AVENUE CAMBRIDGE,MA02139	04-2103594	501(C)(3)	915,824	SUBAWARD - SPONSORED RESEARCH
(76) MAYO CLINIC PO BOX 4006 ROCHESTER,MN559034006	41-6011702	501(C)(3)	162,210	SUBAWARD - SPONSORED RESEARCH
(77) MAYO CLINIC ARIZONA 13400 EAST SHEA BLVD SCOTTSDALE,AZ85259	86-0800150	501(C)(3)	17,155	SUBAWARD - SPONSORED RESEARCH
(78) MEDICAL UNIVERSITY OF SOUTH CAROLINA 19 HAGOOD AVENUE CHARLESTON,SC294258170	57-6000722	STATE OF SC	47,786	SUBAWARD - SPONSORED RESEARCH
(79) MEMORIAL SLOAN KETTERING CANCER CENTER PO BOX 26338 NEW YORK,NY10087	13-1924236	501(C)(3)	639,176	SUBAWARD - SPONSORED RESEARCH
(80) MICHIGAN STATE UNIVERSITY 301 ADMINISTRATION BLDG EAST LANSING,MI48824	38-6005984	501(C)(3)	91,424	SUBAWARD - SPONSORED RESEARCH
(81) MIDWESTERN CONNECTICUT COUNCIL ON ALCOHOLISM INC 38 OLD RIDGEBURY ROAD DANBURY,CT06810	06-0890278	501(C)(3)	67,375	SUBAWARD - SPONSORED RESEARCH
(82) MIRAGEN THERAPEUTICS INC 6200 LOOKOUT ROAD BOULDER,CO80301	20-4362468		33,472	SUBAWARD - SPONSORED RESEARCH
(83) MISSION ASSET FUND 3269 MISSION STREET SAN FRANCISCO,CA94110	20-8993652	501(C)(3)	10,980	SUBAWARD - SPONSORED RESEARCH
(84) MONTANA STATE UNIVERSITY 309 MONTANA HALL BOZEMAN,MT597172470	81-6010045	STATE OF MT	79,604	SUBAWARD - SPONSORED RESEARCH
(85) NARROWS INSTITUTE FOR BIOMEDICAL RESEARCH INC 800 POLY PLACE BROOKLYN,NY11209	11-3059470	501(C)(3)	170,608	SUBAWARD - SPONSORED RESEARCH
(86) NATIONAL DIAPER BANK NETWORK INC 129 CHURCH STREET SUITE 611 NEW HAVEN,CT06510	45-2823935	501(C)(3)	32,443	SUBAWARD - SPONSORED RESEARCH
(87) NATIONAL JEWISH HEALTH 1400 JACKSON STREET DENVER,CO80206	74-2044647	501(C)(3)	126,537	SUBAWARD - SPONSORED RESEARCH
(88) NEW HAVEN DIAPER BANK INCORPORATED PO BOX 9017 NEW HAVEN,CT06532	20-1179912	501(C)(3)	33,682	SUBAWARD - SPONSORED RESEARCH
(89) NEW HAVEN FAMILY ALLIANCE INC 230 ASHMUN STREET NEW HAVEN,CT06511	06-1324343	501(C)(3)	247,270	SUBAWARD - SPONSORED RESEARCH
(90) NEW REACH INC 153 EAST STREET NEW HAVEN,CT06511	22-3037451	501(C)(3)	53,212	SUBAWARD - SPONSORED RESEARCH
(91) NEW YORK GENOME CENTER INC 101 AVENUE OF THE AMERICAS NEW YORK,NY10013	80-0631734	501(C)(3)	151,800	SUBAWARD - SPONSORED RESEARCH
(92) NEW YORK UNIVERSITY 105 E 17TH STREET NEW YORK,NY10003	13-5562308	501(C)(3)	591,160	SUBAWARD - SPONSORED RESEARCH
(93) NORTH CAROLINA STATE UNIVERSITY CAMPUS BOX 7203 RALEIGH,NC276957203	56-6000756	STATE OF NC	15,727	SUBAWARD - SPONSORED RESEARCH
(94) NORTHEASTERN UNIVERSITY 360 HUNTINGTON AVENUE BOSTON,MA02115	04-1679980	501(C)(3)	57,787	SUBAWARD - SPONSORED RESEARCH
(95) NORTHERN CALIFORNIA INSTITUTE FOR RESEARCH AND EDUCATION INC 4150 CLEMENT STREET SAN FRANCISCO,CA94121	94-3084159	501(C)(3)	20,157	SUBAWARD - SPONSORED RESEARCH
(96) NORTHWESTERN UNIVERSITY 633 CLARK STREET EVANSTON,IL602081112	36-2167817	501(C)(3)	27,928	SUBAWARD - SPONSORED RESEARCH
(97) OAKLAND UNIVERSITY 530 WILSON HALL ROCHESTER,MI48309	38-1714400	STATE OF MI	200,124	SUBAWARD - SPONSORED RESEARCH
(98) OCEAN STATE RESEARCH INSTITUTE INC 830 CHALKSTONE AVENUE PROVIDENCE,RI029084734	05-0440574	501(C)(3)	15,777	SUBAWARD - SPONSORED RESEARCH
(99) OREGON HEALTH & SCIENCE UNIVERSITY 3181 SW SAM JACKSON PARK ROAD PORTLAND,OR97239	93-1176109	STATE OF OR	13,038	SUBAWARD - SPONSORED RESEARCH
(100) OREGON STATE UNIVERSITY PO BOX 1086 CORVALLIS,OR973391086	48-1278540	STATE OF OR	10,251	SUBAWARD - SPONSORED RESEARCH
(101) PENNSYLVANIA STATE UNIVERSITY 500 UNIVERSITY DRIVE HERSHEY,PA17033	24-6000376	STATE OF PA	138,082	SUBAWARD - SPONSORED RESEARCH
(102) PHILIPS ELECTRONICS NORTH AMERICA CORPORATION 2 CANAL PARK CAMBRIDGE,MA02141	13-3429115		72,618	SUBAWARD - SPONSORED RESEARCH
(103) PHOTON ACQUISITION CORPORATION 10420 RESEARCH ROAD SE ALBUQUERQUE,NM87123	47-1941203		158,861	SUBAWARD - SPONSORED RESEARCH
(104) PRESIDENT AND FELLOWS OF HARVARD COLLEGE 1033 MASSACHUSETTS AVENUE THIRD FLOOR CAMBRIDGE,MA02138	04-2103580	501(C)(3)	1,415,189	SUBAWARD - SPONSORED RESEARCH
(105) PURDUE UNIVERSITY 401 S GRANT STREET WEST LAFAYETTE,IN479072024	35-6002041	501(C)(3)	129,195	SUBAWARD - SPONSORED RESEARCH
(106) RECOVERY NETWORK OF PROGRAMS INC 2 RESEARCH DRIVE STRATFORD,CT06615	06-0910080	501(C)(3)	147,792	SUBAWARD - SPONSORED RESEARCH
(107) REGENTS OF THE UNIVERSITY OF CALIFORNIA AT IRVINE 5251 CALIFORNIA AVENUE IRVINE,CA92617	95-2226406	501(C)(3)	401,844	SUBAWARD - SPONSORED RESEARCH
(108) REGENTS OF THE UNIVERSITY OF CALIFORNIA AT SAN DIEGO 9500 GILMAN DRIVE LA JOLLA,CA920930009	95-6006144	501(C)(3)	1,324,490	SUBAWARD - SPONSORED RESEARCH
(109) REGENTS OF THE UNIVERSITY OF CALIFORNIA DAVIS PO BOX 989062 WEST SACRAMENTO,CA957989062	94-6036494	501(C)(3)	22,202	SUBAWARD - SPONSORED RESEARCH
(110) REGENTS UNIVERSITY OF CALIFORNIA LOS ANGELES 405 HILGARD AVENUE LOS ANGELES,CA900959000	95-6006143	501(C)(3)	1,334,191	SUBAWARD - SPONSORED RESEARCH
(111) REGENTS OF THE UNIVERSITY OF CALIFORNIA SAN FRANCISCO 1855 FOLSOM STREET SAN FRANCISCO,CA94143	94-6036493	501(C)(3)	1,096,234	SUBAWARD - SPONSORED RESEARCH
(112) REGENTS OF THE UNIVERSITY OF COLORADO PO BOX 910238 DENVER,CO802910238	84-6000555	501(C)(3)	588,259	SUBAWARD - SPONSORED RESEARCH
(113) REGENTS OF THE UNIVERSITY OF MICHIGAN 24 FRANK LLOYD WRIGHT DRIVE ANN ARBOR,MI48106	38-6006309	501(C)(3)	291,935	SUBAWARD - SPONSORED RESEARCH
(114) REGENTS OF THE UNIVERSITY OF MINNESOTA PO BOX 1450 MINNEAPOLIS,MN554855957	41-6007513	STATE OF MN	187,085	SUBAWARD - SPONSORED RESEARCH
(115) RESEARCH FOUNDATION OF THE CITY UNIVERSITY OF NEW YORK 230 WEST 41ST STREET NEW YORK,NY10036	13-1988190	501(C)(3)	7,977	SUBAWARD - SPONSORED RESEARCH
(116) RHODE ISLAND HOSPITAL 593 EDDY STREET PROVIDENCE,RI02903	05-0258954	501(C)(3)	27,031	SUBAWARD - SPONSORED RESEARCH
(117) RUTGERS THE STATE UNIVERSITY 3 RUTGERS PLAZA NEW BRUNSWICK,NJ08901	22-6001086	501(C)(3)	297,140	SUBAWARD - SPONSORED RESEARCH
(118) SAGE ANALYTICA 4915 ST ELMO AVENUE SUITE 205 BETHESDA,MD20814	26-0603861		297,130	SUBAWARD - SPONSORED RESEARCH
(119) SANFORD BURNHAM MEDICAL DISCOVERY INSTITUTE 10901 NORTH TORREY PINES ROAD LA JOLLA,CA92037	51-0197108	501(C)(3)	37,564	SUBAWARD - SPONSORED RESEARCH
(120) SEATTLE CHILDREN'S HOSPITAL PO BOX 24728 SEATTLE,WA981240728	91-0564748	501(C)(3)	748,191	SUBAWARD - SPONSORED RESEARCH
(121) SEPULVEDA RESEARCH CORPORATION 16111 PLUMMER STREET NORTH HILLS,CA91343	95-4246275	501(C)(3)	121,650	SUBAWARD - SPONSORED RESEARCH
(122) SKIDMORE COLLEGE 815 NORTH BROADWAY SARATOGA SPRINGS,NY12866	14-1338562	501(C)(3)	20,900	SUBAWARD - SPONSORED RESEARCH
(123) SLOAN-KETTERING INSTITUTE FOR CANCER RESEARCH PO BOX 27084 NEW YORK,NY10087	13-1624182	501(C)(3)	107,818	SUBAWARD - SPONSORED RESEARCH
(124) SMART POWER INC 1120 CONNECTICUT AVENUE WASHINGTON,DC20036	03-0375454	501(C)(3)	62,063	SUBAWARD - SPONSORED RESEARCH
(125) SMITHSONIAN INSTITUTION 1000 JEFFERSON DRIVE WASHINGTON,DC20560	53-0206027	501(C)(3)	489,504	SUBAWARD - SPONSORED RESEARCH
(126) SOCIAL SCIENCE RESEARCH COUNCIL ONE PIERREPONT PLAZA BROOKLYN,NY11201	13-1325070	501(C)(3)	202,493	SUBAWARD - SPONSORED RESEARCH
(127) SOUTHERN CONNECTICUT STATE UNIVERSITY 501 CRESCENT STREET NEW HAVEN,CT065151355	06-1363115	STATE OF CT	259,219	SUBAWARD - SPONSORED RESEARCH
(128) STANFORD UNIVERSITY 3145 PORTER DRIVE PALO ALTO,CA94304	94-1156365	501(C)(3)	676,269	SUBAWARD - SPONSORED RESEARCH
(129) STATE OF CONNECTICUT 24 WOLCOTT HILL ROAD WETHERSFIELD,CT061091152	06-6000798	STATE OF CT	106,837	SUBAWARD - SPONSORED RESEARCH
(130) TAMPA VA RESEARCH AND EDUCATION FOUNDATION INC 5620 E FOWLER AVENUE TEMPLE TERRACE,FL33617	59-3444354	501(C)(3)	118,472	SUBAWARD - SPONSORED RESEARCH
(131) TEMPLE UNIVERSITY 3401 N BROAD STREET PHILADELPHIA,PA19140	23-1365971	501(C)(3)	257,037	SUBAWARD - SPONSORED RESEARCH
(132) TEXAS A & M UNIVERSITY 400 HARVEY MITCHELL PKWY COLLEGE STATION,TX778454375	74-6000531	501(C)(3)	51,963	SUBAWARD - SPONSORED RESEARCH
(133) TEXAS STATE UNIVERSITY 601 UNIVERSITY DRIVE SAN MARCOS,TX78666	74-6002248	STATE OF TX	18,940	SUBAWARD - SPONSORED RESEARCH
(134) THE BOARD OF TRUSTEES OF THE UNIVERSITY OF ILLINOIS PO BOX 20787 SPRINGFIELD,IL627080787	37-6000511	501(C)(3)	19,914	SUBAWARD - SPONSORED RESEARCH
(135) THE BROAD INSTITUTE INC 415 MAIN STREET CAMBRIDGE,MA02142	26-3428781	501(C)(3)	44,248	SUBAWARD - SPONSORED RESEARCH
(136) THE BRONX VETERANS MEDICAL RESEARCH FOUNDATION INC 130 W KINGSBRIDGE ROAD BRONX,NY10468	13-3699250	501(C)(3)	98,278	SUBAWARD - SPONSORED RESEARCH
(137) THE COLLEGE OF NEW JERSEY PO BOX 7718 EWING,NJ086280718	22-2797398	STATE OF NJ	17,090	SUBAWARD - SPONSORED RESEARCH
(138) THE CONNECTICUT CENTER FOR PRIMARY CARE INC PO BOX 762 FARMINGTON,CT06034	03-0441188	501(C)(3)	93,929	SUBAWARD - SPONSORED RESEARCH
(139) THE CORPORATION OF MERCER UNIVERSITY 1501 MERCER UNIVERSITY DRIVE MACON,GA312070001	58-0566167	501(C)(3)	10,213	SUBAWARD - SPONSORED RESEARCH
(140) THE GEORGE WASHINGTON UNIVERSITY 44983 KNOLL SQUARE ASHBURN,VA20147	53-0196584	501(C)(3)	135,973	SUBAWARD - SPONSORED RESEARCH
(141) THE HEBREW HOME FOR THE AGED AT RIVERDALE 5901 PALISADE AVENUE RIVERDALE,NY10471	13-1739971	501(C)(3)	51,299	SUBAWARD - SPONSORED RESEARCH
(142) THE HEKTOEN INSTITUTE OF MEDICINE 2240 WEST OGDEN AVENUE CHICAGO,IL60612	36-2244897	501(C)(3)	5,247	SUBAWARD - SPONSORED RESEARCH
(143) THE HOSPITAL FOR SPECIAL SURGERY FUND INC 535 EAST 70TH STREET NEW YORK,NY10021	13-6714749	501(C)(3)	25,141	SUBAWARD - SPONSORED RESEARCH
(144) THE HOWARD UNIVERSITY 525 BRYANT STREET NW SUITE 137 WASHINGTON,DC20059	53-0204707	501(C)(3)	5,667	SUBAWARD - SPONSORED RESEARCH
(145) THE JACKSON LABORATORY 610 MAIN STREET BAR HARBOR,ME046091500	01-0211513	501(C)(3)	43,176	SUBAWARD - SPONSORED RESEARCH
(146) THE JOHN B PIERCE LABORATORY INC 290 CONGRESS AVENUE NEW HAVEN,CT06519	06-0646780	501(C)(3)	257,314	SUBAWARD - SPONSORED RESEARCH
(147) THE POPULATION COUNCIL INC 1 DAG HAMMARSKJOLD PLAZA NEW YORK,NY10017	13-1687001	501(C)(3)	42,662	SUBAWARD - SPONSORED RESEARCH
(148) THE MCLEAN HOSPITAL CORPORATION 115 MILL STREET BELMONT,MA02478	04-2697981	501(C)(3)	25,908	SUBAWARD - SPONSORED RESEARCH
(149) THE RESEARCH INSTITUTE AT NATIONWIDE CHILDREN'S HOSPITAL PO BOX 781653 DETROIT,MI482781653	31-6056230	501(C)(3)	85,217	SUBAWARD - SPONSORED RESEARCH
(150) THE RESEARCH FOUNDATION FOR THE STATE UNIVERSITY OF NEW YORK 35 STATE STREET ALBANY,NY12207	14-1368361	501(C)(3)	21,083	SUBAWARD - SPONSORED RESEARCH
(151) THE ROCKEFELLER UNIVERSITY 1230 YORK AVENUE NEW YORK,NY10021	13-1624158	501(C)(3)	29,667	SUBAWARD - SPONSORED RESEARCH
(152) THE TRANSLATIONAL GENOMICS RESEARCH INSTITUTE 445 N FIFTH STREET PHOENIX,AZ85004	75-3065445	501(C)(3)	13,588	SUBAWARD - SPONSORED RESEARCH
(153) THIRD SECTOR CAPITAL PARTNERS INC 200 CLARENDON STREET BOSTON,MA02116	46-1301032	501(C)(3)	164,115	SUBAWARD - SPONSORED RESEARCH
(154) TRUSTEES OF BOSTON COLLEGE 140 COMMONWEALTH AVENUE BOSTON,MA02467	04-2103545	501(C)(3)	12,263	SUBAWARD - SPONSORED RESEARCH
(155) TRUSTEES OF BOSTON UNIVERSITY 881 COMMONWEALTH AVENUE BOSTON,MA022151303	04-2103547	501(C)(3)	214,207	SUBAWARD - SPONSORED RESEARCH
(156) TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA 3451 WALNUT STREET PHILADELPHIA,PA191046205	23-1352685	501(C)(3)	483,485	SUBAWARD - SPONSORED RESEARCH
(157) TRUSTEES OF PRINCETON UNIVERSITY 5 NEW SOUTH BLDG PRINCETON,NJ085445292	21-0634501	501(C)(3)	39,976	SUBAWARD - SPONSORED RESEARCH
(158) TUFTS MEDICAL CENTER INC 800 WASHINGTON STREET BOSTON,MA02111	04-3400617	501(C)(3)	6,512	SUBAWARD - SPONSORED RESEARCH
(159) TUFTS UNIVERSITY 136 HARRISON AVENUE BOSTON,MA02111	04-2103634	501(C)(3)	18,870	SUBAWARD - SPONSORED RESEARCH
(160) UNITED STATES DEPARTMENT OF THE INTERIOR 271 NATIONAL CENTER RESTON,VA20192	53-0196958	US GOVT	20,000	SUBAWARD - SPONSORED RESEARCH
(161) UNIVERSITY CORPORATION FOR ATMOSPHERIC RESEARCH PO BOX 3000 BOULDER,CO803073000	84-0412668	501(C)(3)	18,033	SUBAWARD - SPONSORED RESEARCH
(162) UNIVERSITY OF ALABAMA AT BIRMINGHAM 1530 3RD AVENUE SOUTH BIRMINGHAM,AL352940109	63-6005396	501(C)(3)	16,343	SUBAWARD - SPONSORED RESEARCH
(163) UNIVERSITY OF ARIZONA 1303 E UNIVERSITY BLVD TUCSON,AZ857190521	86-6004791	STATE OF AZ	23,025	SUBAWARD - SPONSORED RESEARCH
(164) UNIVERSITY OF ARKANSAS FOR MEDICAL SCIENCES 4301 W MARKHAM STREET LITTLE ROCK,AR72205	71-6046242	STATE OF AR	5,462	SUBAWARD - SPONSORED RESEARCH
(165) UNIVERSITY OF CHICAGO 6054 S DREXEL AVENUE CHICAGO,IL606372612	36-2177139	501(C)(3)	56,718	SUBAWARD - SPONSORED RESEARCH
(166) UNIVERSITY OF CINCINNATI PO BOX 932641 CLEVELAND,OH44193	31-6000989	STATE OF OH	39,187	SUBAWARD - SPONSORED RESEARCH
(167) UNIVERSITY OF CONNECTICUT 438 WHITNEY AVENUE STORRS,CT062691133	06-0772160	STATE OF CT	223,650	SUBAWARD - SPONSORED RESEARCH
(168) UNIVERSITY OF CONNECTICUT HEALTH CENTER 263 FARMINGTON AVENUE FARMINGTON,CT06032	52-1725543	STATE OF CT	991,539	SUBAWARD - SPONSORED RESEARCH
(169) UNIVERSITY OF FLORIDA 123 GRINTER HALL PO BOX 113001 GAINESVILLE,FL32611	59-6002052	STATE OF FL	41,350	SUBAWARD - SPONSORED RESEARCH
(170) UNIVERSITY OF GEORGIA RESEARCH FOUNDATION 240A RIVERBEND ROAD ATHENS,GA306025333	58-1353149	501(C)(3)	24,186	SUBAWARD - SPONSORED RESEARCH
(171) UNIVERSITY OF HAWAII 2600 CAMPUS ROAD HONOLULU,HI96822	99-6000354	STATE OF HI	24,938	SUBAWARD - SPONSORED RESEARCH
(172) UNIVERSITY OF IOWA 105 JESSUP HALL IOWA CITY,IA52242	42-6004813	STATE OF IA	160,954	SUBAWARD - SPONSORED RESEARCH
(173) UNIVERSITY OF KANSAS MEDICAL CENTER RESEARCH INSTITUTE 3901 RAINBOW BLVD KANSAS CITY,KS66160	48-1108830	501(C)(3)	5,464	SUBAWARD - SPONSORED RESEARCH
(174) UNIVERSITY OF KENTUCKY RESEARCH FOUNDATION 301 PETERSON SERVICE BUILDING LEXINGTON,KY405060005	61-6033693	501(C)(3)	10,851	SUBAWARD - SPONSORED RESEARCH
(175) UNIVERSITY OF MAINE SYSTEM INC 5717 CORBETT HALL ORONO,ME044695717	01-6000769	501(C)(3)	49,141	SUBAWARD - SPONSORED RESEARCH
(176) UNIVERSITY OF MARYLAND 3112 LEE BUILDING COLLEGE PARK,MD207425141	52-6002033	STATE OF MD	35,522	SUBAWARD - SPONSORED RESEARCH
(177) UNIVERSITY OF MARYLAND MEDICAL SYSTEM CORP PO BOX 41428 BALTIMORE,MD212036428	52-1362793	501(C)(3)	9,297	SUBAWARD - SPONSORED RESEARCH
(178) UNIVERSITY OF MASSACHUSETTS 405 GOODELL BUILDING 140 HICKS WAY AMHERST,MA010039272	04-3167352	STATE OF MA	301,994	SUBAWARD - SPONSORED RESEARCH
(179) UNIVERSITY OF MIAMI PO BOX 248106 CORAL GABLES,FL331242912	59-0624458	501(C)(3)	176,188	SUBAWARD - SPONSORED RESEARCH
(180) UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL 104B MARKET STREET CHAPEL HILL,NC27599	56-6001393	501(C)(3)	48,628	SUBAWARD - SPONSORED RESEARCH
(181) UNIVERSITY OF NOTRE DAME 836A GRACE HALL NOTRE DAME,IN465565612	35-0868188	501(C)(3)	21,039	SUBAWARD - SPONSORED RESEARCH
(182) UNIVERSITY OF OKLAHOMA PO BOX 26907 OKLAHOMA CITY,OK731260901	73-6017987	STATE OF OK	50,952	SUBAWARD - SPONSORED RESEARCH
(183) UNIVERSITY OF PITTSBURGH PO BOX 371220 PITTSBURGH,PA152517220	25-0965591	501(C)(3)	544,691	SUBAWARD - SPONSORED RESEARCH
(184) UNIVERSITY OF PUERTO RICO PO BOX 365067 SAN JUAN,PR009365067	66-0433760	PUERTO RICO	124,648	SUBAWARD - SPONSORED RESEARCH
(185) UNIVERSITY OF RHODE ISLAND 70 LOWER COLLEGE ROAD KINGSTON,RI028810811	05-6000522	501(C)(3)	392,176	SUBAWARD - SPONSORED RESEARCH
(186) UNIVERSITY OF ROCHESTER 601 ELMWOOD AVENUE BOX 673 ROCHESTER,NY146428670	16-0743209	501(C)(3)	83,835	SUBAWARD - SPONSORED RESEARCH
(187) UNIVERSITY OF SOUTH CAROLINA 1600 HAMPTON STREET COLUMBIA,SC29208	57-6001153	STATE OF SC	67,523	SUBAWARD - SPONSORED RESEARCH
(188) UNIVERSITY OF SOUTHERN CALIFORNIA UNIVERSITY GARDENS LOS ANGELES,CA900898003	95-1642394	501(C)(3)	1,787,693	SUBAWARD - SPONSORED RESEARCH
(189) UNIVERSITY OF TEXAS PO BOX 7159 AUSTIN,TX787137159	74-6000203	STATE OF TX	254,869	SUBAWARD - SPONSORED RESEARCH
(190) UNIVERSITY OF TEXAS HEALTH SCIENCE CENTER AT SAN ANTONIO PO BOX 1898 SAN ANTONIO,TX782971898	74-1586031	501(C)(3)	328,540	SUBAWARD - SPONSORED RESEARCH
(191) UNIVERSITY OF TEXAS MD ANDERSON CANCER CENTER PO BOX 4390 HOUSTON,TX772104390	74-6001118	501(C)(3)	129,638	SUBAWARD - SPONSORED RESEARCH
(192) UNIVERSITY OF TEXAS MEDICAL BRANCH PO BOX 660120 DALLAS,TX752660120	74-6000949	STATE OF TX	74,497	SUBAWARD - SPONSORED RESEARCH
(193) UNIVERSITY OF TEXAS RIO GRANDE VALLEY ONE WEST UNIVERSITY BLVD BROWNSVILLE,TX78520	46-5292740	501(C)(3)	36,293	SUBAWARD - SPONSORED RESEARCH
(194) UNIVERSITY OF TEXAS SOUTHWESTERN MEDICAL CENTER PO BOX 841753 DALLAS,TX752841753	75-6002868	STATE OF TX	5,253	SUBAWARD - SPONSORED RESEARCH
(195) UNIVERSITY OF THE VIRGIN ISLANDS 2 JOHN BREWERS BAY ST THOMAS,VI008029990	66-0432514	501(C)(3)	74,334	SUBAWARD - SPONSORED RESEARCH
(196) UNIVERSITY OF UTAH 201 S PRESIDENTS CIRCLE SALT LAKE CITY,UT841129020	87-6000525	501(C)(3)	9,098	SUBAWARD - SPONSORED RESEARCH
(197) UNIVERSITY OF VERMONT AND STATE AGRICULTURAL COLLEGE 85 SOUTH PROSPECT STREET BURLINGTON,VT054050160	03-0179440	501(C)(3)	471,128	SUBAWARD - SPONSORED RESEARCH
(198) UNIVERSITY OF VIRGINIA PO BOX 400195 CHARLOTTESVILLE,VA229044195	54-6001796	501(C)(3)	238,985	SUBAWARD - SPONSORED RESEARCH
(199) UNIVERSITY OF WASHINGTON PO BOX 354966 SEATTLE,WA981954966	91-6001537	STATE OF WA	1,353,896	SUBAWARD - SPONSORED RESEARCH
(200) UNIVERSITY OF WISCONSIN SYSTEM 750 HIGHLAND AVENUE MADISON,WI53705	39-1805963	STATE OF WI	283,040	SUBAWARD - SPONSORED RESEARCH
(201) US CIVILIAN RESEARCH AND DEVELOPMENT FOUNDATION 1776 WILSON BLVD ARLINGTON,VA22209	54-1773406	501(C)(3)	165,851	SUBAWARD - SPONSORED RESEARCH
(202) UTAH STATE UNIVERSITY 2400 OLD MAIN HILL LOGAN,UT843222400	87-6000528	501(C)(3)	52,759	SUBAWARD - SPONSORED RESEARCH
(203) VANDERBILT UNIVERSITY 2301 VANDERBILT PLACE NASHVILLE,TN372407756	62-0476822	501(C)(3)	397,119	SUBAWARD - SPONSORED RESEARCH
(204) VETERANS MEDICAL RESEARCH FOUNDATION OF SAN DIEGO 3350 LA JOLLA VILLAGE DRIVE SAN DIEGO,CA921610001	33-0189397	501(C)(3)	172,875	SUBAWARD - SPONSORED RESEARCH
(205) WASHINGTON UNIVERSITY 700 ROSEDALE AVENUE ST LOUIS,MO631121408	43-0653611	501(C)(3)	176,282	SUBAWARD - SPONSORED RESEARCH
(206) WAYNE STATE UNIVERSITY 5057 WOODWARD AVENUE DETROIT,MI48202	38-6028429	501(C)(3)	194,236	SUBAWARD - SPONSORED RESEARCH
(207) WEILL MEDICAL COLLEGE OF CORNELL UNIVERSITY 575 LEXINGTON AVENUE 9TH FLOOR NEW YORK,NY10022	13-1623978	501(C)(3)	128,005	SUBAWARD - SPONSORED RESEARCH
(208) YALE NEW HAVEN HEALTH SERVICES CORP 1 CHURCH STREET NEW HAVEN,CT06510	22-2529464	501(C)(3)	140,237	SUBAWARD - SPONSORED RESEARCH
(209) DOROT INC 171 WEST 85TH STREET NEW YORK,NY10024	13-3264005	501(C)(3)	50,000	DAF DISTRIBUTIONS
(210) INSTITUTE FOR JUSTICE 901 NORTH GLEBE ROAD ARLINGTON,VA22203	52-1744337	501(C)(3)	60,000	DAF DISTRIBUTIONS
(211) THE UNIVERSITY OF CONNECTICUT FOUNDATION INC 2390 ALUMNI DRIVE STORRS,CT06269	06-6070722	501(C)(3)	300,000	DAF DISTRIBUTIONS
(212) UNITED JEWISH APPEAL-FEDERATION OF JEWISH PHILANTHROPIES OF NEW YORK INC 130 EAST 59TH STREET NEW YORK,NY100221302	51-0172429	501(C)(3)	100,000	DAF DISTRIBUTIONS
(213) UNIVERSITY OF CHICAGO 5801 S ELLIS AVENUE CHICAGO,IL60637	36-2177139	501(C)(3)	100,000	DAF DISTRIBUTIONS
(214) ALL OUR KIN INC PO BOX 8477 NEW HAVEN,CT06530	06-1539280	501(C)(3)	15,500	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(215) AMISTAD ACADEMY INC 495 BLAKE STREET NEW HAVEN,CT06515	06-1546695	501(C)(3)	100,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(216) ARTSPACE INC 50 ORANGE STREET NEW HAVEN,CT06510	22-2533535	501(C)(3)	15,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(217) CALVIN HILL DAY CARE CENTER INC 150 HIGHLAND STREET NEW HAVEN,CT06511	06-0865321	501(C)(3)	20,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(218) CHAPEL HAVEN INC 1040 WHALLEY AVENUE NEW HAVEN,CT06515	06-0925031	501(C)(3)	10,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(219) CITY OF NEW HAVEN 200 ORANGE STREET NEW HAVEN,CT06510	06-6001876	CITY-NEW HAVEN	19,050	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(220) CITY OF WEST HAVEN 355 MAIN STREET WEST HAVEN,CT06516	06-6002126	CITY-WEST HAVEN	6,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(221) CONNECTICUT CENTER FOR ARTS AND TECHNOLOGY 4 SCIENCE PARK NEW HAVEN,CT06511	45-1257955	501(C)(3)	11,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(222) DWIGHT HALL AT YALE PO BOX 209008 NEW HAVEN,CT06520	06-0653140	501(C)(3)	48,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(223) ECONOMIC DEVELOPMENT CORPORATION OF NEW HAVEN 545 LONG WHARF DRIVE 4TH FLOOR NEW HAVEN,CT06511	26-1854785	501(C)(3)	135,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(224) FIRST CALVARY BAPTIST CHURCH 605 DIXWELL AVENUE NEW HAVEN,CT06511	06-1173497	501(C)(3)	15,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(225) LEADERSHIP EDUCATION AND ATHLETIC IN PARTNERSHIP INC 31 JEFFERSON STREET NEW HAVEN,CT06511	22-2906547	501(C)(3)	13,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(226) MARKET NEW HAVEN INC 900 CHAPEL STREET NEW HAVEN,CT06510	06-1578847	501(C)(6)	275,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(227) NEW HAVEN INTERNATIONAL FESTIVAL OF ARTS AND IDEAS INC 195 CHURCH STREET 12TH FLOOR NEW HAVEN,CT06510	06-1444222	501(C)(3)	127,500	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(228) NEW HYTES INC PO BOX 2928 NEW HAVEN,CT06515	27-0772846	501(C)(3)	30,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(229) READ TO GROW INC 53 SCHOOL GROUND ROAD UNIT 3 BRANFORD,CT06405	06-1572185	501(C)(3)	10,500	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(230) SQUASH HAVEN INC 70 TOWER PARKWAY NEW HAVEN,CT06520	20-5500876	501(C)(3)	63,500	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(231) ST LUKE'S DEVELOPMENT CORPORATION 111 WHALLEY AVENUE NEW HAVEN,CT06511	06-1509394	501(C)(3)	10,500	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(232) TEACH FOR AMERICA INC 25 BROADWAY 12TH FLOOR NEW YORK,NY10004	13-3541913	501(C)(3)	100,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(233) THE CONNECTICUT PLAYERS FOUNDATION INC 222 SARGENT DRIVE NEW HAVEN,CT06511	06-6073063	501(C)(3)	11,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(234) THE MORY'S ASSOCIATION INC 306 YORK STREET NEW HAVEN,CT06511	06-0460080	501(C)(7)	250,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(235) THE NEW HAVEN SYMPHONY ORCHESTRA INC 545 LONG WHARF NO 302 NEW HAVEN,CT06511	06-6000592	501(C)(3)	6,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(236) THE TENNIS FOUNDATION OF CONNECTICUT INC 900 CHAPEL STREET SUITE 622 NEW HAVEN,CT06510	06-1287098	501(C)(3)	325,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(237) ULYSSES S GRANT FOUNDATION INC PO BOX 200082 YALE STATION NEW HAVEN,CT06520	06-6071625	501(C)(3)	20,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(238) UNITED WAY OF GREATER NEW HAVEN INC 370 JAMES STREET NEW HAVEN,CT06513	06-0646761	501(C)(3)	102,350	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(239) URU THE RIGHT TO BE INC 70 AUDUBON STREET 2ND FLOOR NEW HAVEN,CT06510	56-2520642	501(C)(3)	15,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(240) WALTER CAMP FOOTBALL FOUNDATION INC PO BOX 1663 NEW HAVEN,CT06507	06-6099383	501(C)(4)	10,000	CHARITABLE CONTRIBUTION AND COMMUNITY SUPPORT
(241) THE COMMUNITY FOUNDATION FOR GREATER NEW HAVEN 70 AUDUBON STREET NEW HAVEN,CT06510	06-6032106	501(C)(3)	1,690,433	SCHOLARSHIPS

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

231

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) 2015

Page 2

Part III

Grants and Other Assistance to Domestic Individuals. Complete if the organization answered "Yes" on Form 990, Part IV, line 22.
Part III can be duplicated if additional space is needed.

(a) Type of grant or assistance	(b) Number of recipients	(c) Amount of cash grant	(d) Amount of non-cash assistance	(e) Method of valuation (book, FMV, appraisal, other)	(f) Description of non-cash assistance

(1) STUDENT STIPENDS	3825	71,872,201
(2) SCHOLARSHIPS	8124		279,203,237	COST	TUITION REDUCTION
(3) HEALTH PREMIUM AWARDS	2810		10,624,282	COST	HEALTHCARE
(4) FELLOWSHIPS	583	4,699,341
(5) PRIZES AND AWARDS	1556	3,638,501
(5)
(6)
(7)

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
SCHEDULE I, PART I, LINE 2:	WITH RESPECT TO SPONSORED PROJECT ACTIVITY SUBCONTRACTED TO OTHER ENTITIES, THE UNIVERSITY'S POLICY AND PROCEDURES FOR MONITORING SUB RECIPIENT AWARDS ("SUBWARDS") ARE INTENDED TO ESTABLISH APPROPRIATE AND EFFECTIVE MECHANISMS TO PROMOTE COMPLIANCE WITH FEDERAL AND NON-FEDERAL REQUIREMENTS AND CONTRACTUAL ARRANGEMENTS, INCLUDING THE PROPER MONITORING AND STEWARDSHIP OF AWARDED FUNDS. PROPER MONITORING OF A SUBAWARD ENSURES THAT AWARDED FUNDS ARE USED FOR AUTHORIZED PURPOSES, PERFORMANCE GOALS ARE MET AND THE SUB RECIPIENT IS IN COMPLIANCE WITH THE TERMS AND CONDITIONS OF THE SUB RECIPIENT AGREEMENT. SUB RECIPIENT MONITORING PROCEDURES INCLUDE BUT ARE NOT LIMITED TO THE FOLLOWING ACTIVITIES: A FORMAL PRE-QUALIFICATION PROCESS FOR SUB RECIPIENTS, PRE-AWARD AND POST-AWARD MONITORING OF SUB RECIPIENTS TO REVIEW THE FINANCIAL STATUS AND MANAGEMENT CONTROLS, COMPLIANCE CERTIFICATIONS, REVIEW OF COMPLIANCE WITH REGULATIONS RELATIVE TO THE USE OF HUMAN SUBJECTS AND ANIMALS, IDENTIFICATION AND MANAGEMENT OF ANY CONFLICT OF INTEREST WITH A SUB RECIPIENT ENTITY, AND A REVIEW OF PERTINENT OTHER ORGANIZATION INFORMATION. IN ACCORDANCE WITH THESE PROCEDURES, THE UNIVERSITY REVIEWS THE SUB RECIPIENT'S ADMINISTRATION, FINANCIAL STATEMENTS, BILLINGS, SCIENTIFIC PROGRESS, TECHNICAL REPORTS, AND DELIVERABLES OF AN ACTIVE SUBAWARD REGULARLY AND CONDUCTS ON-GOING RISK ASSESSMENTS AS WELL AS QUARTERLY QUALITY ASSURANCE REVIEWS ON RANDOMLY SELECTED SUBAWARDS. IN ADDITION TO A MONTHLY DEPARTMENTAL REVIEW, THE UNIVERSITY MONITORS A SUB RECIPIENT'S COMPLIANCE WITH THE TERMS AND CONDITIONS OF THE SUBAWARD ANNUALLY AND UPON CLOSEOUT OF THE SUB RECIPIENT AGREEMENT. IF ANY OF THESE MONITORING PROCEDURES RESULT IN FINDINGS, THE UNIVERSITY WILL TAKE CORRECTIVE ACTION AS NECESSARY. THE PROCEDURES SERVE TO ENSURE THAT THE SUBAWARDS ARE USED FOR PROPER PURPOSES AND NOT DIVERTED FROM THEIR INTENDED USE.
SCHEDULE I, PART II:	A SUBAWARD IS AN AWARD OF FINANCIAL SUPPORT FROM THE UNIVERSITY TO A QUALIFIED THIRD PARTY PRIMARILY TO PERFORM RESEARCH AND OTHER RELATED PROGRAMMATIC EFFORTS UNDER A SPONSORED RESEARCH PROJECT.
SCHEDULE I, PART III:	THE AMOUNTS REPORTED IN PART III REPRESENT AN ESTIMATE OF TOTAL AWARDS FOR THE FISCAL YEAR ENDED JUNE 30, 2016 BASED ON INFORMATION PROVIDED BY THE UNIVERSITY'S UNDERGRADUATE, GRADUATE AND PROFESSIONAL SCHOOLS. SOME STUDENTS RECEIVED MORE THAN ONE AWARD DURING THE FISCAL YEAR ENDED JUNE 30, 2016.

Schedule I (Form 990) 2015

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" on 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

2015

Open to Public Inspection

Name of the organization

YALE UNIVERSITY

Employer identification number

06-0646973

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 on 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 on 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? ................

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 on 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," on line 5a or 5b, describe in Part III.

For persons listed on 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," on line 6a or 6b, describe in Part III.

For persons listed on 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 on 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 .............................

Yes

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

Yes

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

Cat. No. 50053T

Schedule J (Form 990) 2015

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 on 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 on 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)
1PETER SALOVEYTRUSTEE & PRESIDENT	(i) (ii)	948,084 ------------- 0	0 ------------- 0	155,663 ------------- 0	208,913 ------------- 0	53,741 ------------- 0	1,366,401 ------------- 0	0 ------------- 0
2BRUCE D ALEXANDERVP FOR NEW HAVEN & STATE AFFAIRS	(i) (ii)	513,356 ------------- 0	0 ------------- 0	54,372 ------------- 0	29,538 ------------- 0	13,273 ------------- 0	610,539 ------------- 0	0 ------------- 0
3ALEXANDER E DREIERVP & GENERAL COUNSEL	(i) (ii)	435,064 ------------- 0	30,000 ------------- 0	45,303 ------------- 0	35,000 ------------- 0	22,782 ------------- 0	568,149 ------------- 0	0 ------------- 0
4KIMBERLY M GOFF-CREWSSECRETARY & VP FOR STUDENT LIFE	(i) (ii)	376,079 ------------- 0	0 ------------- 0	18,000 ------------- 0	30,475 ------------- 0	9,312 ------------- 0	433,866 ------------- 0	0 ------------- 0
5SHAUNA R KINGVP FOR FINANCE & BUSINESS OPERATIONS	(i) (ii)	468,824 ------------- 0	0 ------------- 0	47,000 ------------- 0	21,168 ------------- 0	8,714 ------------- 0	545,706 ------------- 0	0 ------------- 0
6STEPHEN C MURPHYVP FOR FINANCE & CFO	(i) (ii)	331,708 ------------- 0	0 ------------- 0	18,000 ------------- 0	33,267 ------------- 0	33,667 ------------- 0	416,642 ------------- 0	0 ------------- 0
7JOAN E O'NEILLVP FOR ALUMNI AFFAIRS & DEVELOPMENT	(i) (ii)	430,385 ------------- 0	0 ------------- 0	48,955 ------------- 0	31,413 ------------- 0	40,256 ------------- 0	551,009 ------------- 0	0 ------------- 0
8MICHAEL A PEELVP FOR HR & ADMINISTRATION	(i) (ii)	514,907 ------------- 0	0 ------------- 0	80,441 ------------- 0	29,538 ------------- 0	14,722 ------------- 0	639,608 ------------- 0	0 ------------- 0
9BENJAMIN POLAKPROVOST	(i) (ii)	579,448 ------------- 0	0 ------------- 0	18,000 ------------- 0	28,913 ------------- 0	777 ------------- 0	627,138 ------------- 0	0 ------------- 0
10SCOTT A STROBELVP FOR WEST CAMPUS PLANNING	(i) (ii)	421,554 ------------- 0	0 ------------- 0	32,719 ------------- 0	30,631 ------------- 0	27,246 ------------- 0	512,150 ------------- 0	0 ------------- 0
11ROBERT J ALPERNDEAN SCHOOL OF MEDICINE	(i) (ii)	867,121 ------------- 0	0 ------------- 0	18,000 ------------- 0	28,913 ------------- 0	3,104 ------------- 0	917,138 ------------- 0	0 ------------- 0
12JOHN H BOLLIERAVP FOR FACILITIES	(i) (ii)	384,781 ------------- 0	0 ------------- 0	0 ------------- 0	30,517 ------------- 0	38,978 ------------- 0	454,276 ------------- 0	0 ------------- 0
13DAVID F SWENSENCHIEF INVESTMENT OFFICER	(i) (ii)	849,202 ------------- 0	2,542,896 ------------- 0	562,583 ------------- 0	256,412 ------------- 0	27,710 ------------- 0	4,238,803 ------------- 0	0 ------------- 0
14DEAN J TAKAHASHISR DIRECTOR, INVESTMENTS	(i) (ii)	630,302 ------------- 0	1,907,172 ------------- 0	418,000 ------------- 0	231,767 ------------- 0	17,623 ------------- 0	3,204,864 ------------- 0	0 ------------- 0
15KHALID M ABBEDCHIEF, NEUROSURGERY SPINE	(i) (ii)	280,157 ------------- 0	1,186,498 ------------- 0	0 ------------- 0	29,850 ------------- 0	33,849 ------------- 0	1,530,354 ------------- 0	0 ------------- 0
16MASOUD AZODIPROFESSOR, OB/GYN	(i) (ii)	256,964 ------------- 0	831,997 ------------- 0	18,000 ------------- 0	28,572 ------------- 0	36,451 ------------- 0	1,171,984 ------------- 0	0 ------------- 0
17ALAN FORMANDIRECTOR, INVESTMENTS	(i) (ii)	552,146 ------------- 0	468,109 ------------- 0	18,000 ------------- 0	415,579 ------------- 0	33,279 ------------- 0	1,487,113 ------------- 0	0 ------------- 0
18PETER G SCHULAMCHAIR, DEPARTMENT OF UROLOGY	(i) (ii)	771,080 ------------- 0	250,000 ------------- 0	18,000 ------------- 0	28,913 ------------- 0	31,613 ------------- 0	1,099,606 ------------- 0	0 ------------- 0
19TIMOTHY R SULLIVANDIRECTOR, INVESTMENTS	(i) (ii)	590,845 ------------- 0	680,932 ------------- 0	18,000 ------------- 0	452,246 ------------- 0	48,204 ------------- 0	1,790,227 ------------- 0	393,333 ------------- 0
20LINDA K LORIMERFORMER VP FOR GLOBAL & STRAT. INIT.	(i) (ii)	483,611 ------------- 0	0 ------------- 0	25,438 ------------- 0	28,788 ------------- 0	18,474 ------------- 0	556,311 ------------- 0	0 ------------- 0
21DOROTHY K ROBINSONFORMER VP & GENERAL COUNSEL	(i) (ii)	272,798 ------------- 0	0 ------------- 0	288,471 ------------- 0	5,152 ------------- 0	6,938 ------------- 0	573,359 ------------- 0	0 ------------- 0
22MICHAEL J DONOGHUEFORMER VP FOR WEST CAMPUS PLANNING	(i) (ii)	244,044 ------------- 0	0 ------------- 0	18,000 ------------- 0	29,869 ------------- 0	40,031 ------------- 0	331,944 ------------- 0	0 ------------- 0

Schedule J (Form 990) 2015

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	EACH ONE OF THE BENEFITS THAT WAS CHECKED WAS PROVIDED PURSUANT TO A WRITTEN POLICY. FIRST-CLASS OR CHARTER TRAVEL: ON OCCASION DURING THE CALENDAR YEAR 2015, THE UNIVERSITY CHARTERED PRIVATE AIRCRAFT WHEN DEEMED NECESSARY FOR THE CONDUCT OF UNIVERSITY BUSINESS, PURSUANT TO A CORPORATION POLICY. TWO OFFICERS TRAVELED ON SUCH FLIGHTS IN 2015 IN ACCORDANCE WITH THE POLICY. IN ADDITION, ONE TRUSTEE TRAVELED FIRST CLASS ON A COMMERCIAL FLIGHT DURING 2015 DUE TO SPECIAL CIRCUMSTANCES AND AS PERMITTED PURSUANT TO UNIVERSITY POLICY. UNDER APPLICABLE RULES, AMOUNTS FOR SUCH TRAVEL WERE NOT REPORTED AS TAXABLE COMPENSATION TO THE LISTED INDIVIDUALS. TRAVEL FOR COMPANIONS: THE SPOUSE OF ONE OFFICER ON OCCASION ACCOMPANIED THE OFFICER ON UNIVERSITY BUSINESS. THE PRIMARY PURPOSE OF THE TRAVEL WAS TO CONDUCT UNIVERSITY BUSINESS BY REPRESENTING THE UNIVERSITY AT OFFICIAL FUNCTIONS. UNDER APPLICABLE RULES, THE COST OF TRAVEL WAS NOT REQUIRED TO BE REPORTED AS TAXABLE COMPENSATION TO THE LISTED INDIVIDUAL. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: FOUR OFFICERS RECEIVED TAX GROSS-UP PAYMENTS DURING THE CALENDAR YEAR 2015 FOR CERTAIN LIMITED TAXABLE BENEFITS BASED ON THEIR ESTIMATED RELATED TAX OBLIGATIONS. THESE PAYMENTS WERE TREATED AS TAXABLE COMPENSATION TO THE LISTED INDIVIDUALS. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: AS A CONDITION OF HIS EMPLOYMENT AND FOR THE CONVENIENCE OF THE UNIVERSITY, THE PRESIDENT IS REQUIRED TO LIVE ON CAMPUS IN AN APARTMENT WITHIN THE PRESIDENT'S HOUSE. THE ESTIMATED FAIR MARKET RENTAL VALUE OF THIS HOUSING IS INCLUDED AS A NONTAXABLE BENEFIT IN SCHEDULE J, PART II, COLUMN (D). IN ADDITION, THREE OFFICERS WERE PROVIDED UNIVERSITY RESIDENCES FOR PERSONAL USE DURING THE CALENDAR YEAR 2015. THE VALUES OF THE RESIDENCES WERE DETERMINED PURSUANT TO IRC SECTION 119(D), AS REQUIRED, AND TREATED AS TAXABLE COMPENSATION. IN ADDITION, ONE OFFICER RECEIVED A HOUSING ALLOWANCE WHICH WAS TREATED AS TAXABLE COMPENSATION TO THE INDIVIDUAL DURING CALENDAR YEAR 2015. PERSONAL SERVICES: IN CONNECTION WITH UNIVERSITY BUSINESS ACTIVITY, A FORMER OFFICER RECEIVED SUPPORT FROM A SERVICE ASSISTANT; THE COST OF PERSONAL SERVICES RENDERED BY THAT ASSISTANT WAS TREATED AS TAXABLE COMPENSATION TO THE LISTED INDIVIDUAL.
PART I, LINE 4B	CERTAIN LISTED PERSONS PARTICIPATED IN SUPPLEMENTAL NONQUALIFIED RETIREMENT PLANS DURING THE CALENDAR YEAR 2015 AS DESCRIBED BELOW: THE UNIVERSITY HAS AGREED TO SUPPLEMENT THE PRESIDENT'S RETIREMENT INCOME BY MAKING AN ANNUAL CONTRIBUTION TO A NONQUALIFIED DEFERRED COMPENSATION PLAN, SUBJECT TO VESTING CONDITIONS BASED ON CONTINUING SERVICE TO THE UNIVERSITY AND ADJUSTED FOR EARNINGS BASED ON POSITIVE PERFORMANCE OF THE ENDOWMENT. THE CURRENT YEAR ACCRUAL OF COMPENSATION ASSOCIATED WITH THIS PLAN IS INCLUDED IN SCHEDULE J, PART II, COLUMN (C). THE UNIVERSITY PREVIOUSLY AGREED TO SUPPLEMENT THE RETIREMENT INCOME FOR TWO KEY EMPLOYEES IN THE INVESTMENTS OFFICE BY PROVIDING AN ADDITIONAL RETIREMENT BENEFIT EQUAL IN VALUE TO A PERCENTAGE OF SALARY AT VESTING, FOR A TERM OF 20 YEARS, SUBJECT TO VESTING CONDITIONS BASED ON CONTINUING SERVICE TO THE UNIVERSITY. AN ANNUAL ACCRUAL FOR THE ADDITIONAL RETIREMENT BENEFITS IS INCLUDED IN SCHEDULE J, PART II, COLUMN (C). IN ADDITION, THE UNIVERSITY AWARDED BONUSES TO THE TWO PREVIOUSLY MENTIONED EMPLOYEES IN THE INVESTMENTS OFFICE THAT WERE TAXED IN 2015 AND SUBJECT TO DEFERRED PAYMENT WITH ADJUSTMENTS UPWARD OR DOWNWARD DEPENDING ON PERFORMANCE OF THE ENDOWMENT. THESE BONUSES FOR 2015 ARE INCLUDED IN SCHEDULE J, PART II, COLUMN B(III). SCHEDULE J, PART I, LINE 7: THE UNIVERSITY PAID TWO KEY EMPLOYEES IN THE INVESTMENTS OFFICE BONUSES AWARDED UNDER A LONG TERM INCENTIVE COMPENSATION PLAN WHICH PROVIDES FOR PAYMENTS WHICH ARE BASED ON QUALITATIVE AND QUANTITATIVE PERFORMANCE FACTORS. THE PAYMENTS ARE REPORTED ON SCHEDULE J, PART II, COLUMN (B)(II). THE UNIVERSITY PAID TWO HIGHLY COMPENSATED EMPLOYEES BONUSES UNDER A LONG TERM INCENTIVE COMPENSATION PLAN WHICH PROVIDES FOR DEFERRED VESTING CONTINGENT ON THE PERFORMANCE OF FUTURE SERVICES AND MAY CHANGE UPWARD OR DOWNWARD DEPENDING ON PERFORMANCE OF THE ENDOWMENT PRIOR TO VESTING AND PAYMENT. THE CURRENT YEAR PAYMENT THAT WAS AWARDED IN PREVIOUS YEARS IS REPORTED ON SCHEDULE J, PART II, COLUMN (B)(II). THE AMOUNT AWARDED IN THE CURRENT YEAR BUT SUBJECT TO DEFERRED VESTING IS INCLUDED AS DEFERRED COMPENSATION ON SCHEDULE J, PART II, COLUMN (C). THE UNIVERSITY ALSO PAID THREE HIGHLY COMPENSATED EMPLOYEES ADDITIONAL COMPENSATION PURSUANT TO CLINICAL INCENTIVE PLANS. IN ADDITION, ONE OFFICER RECEIVED A SIGNING BONUS WHICH WAS APPROVED IN ACCORDANCE WITH THE PROCEDURES DESCRIBED IN SCHEDULE O, PART VI, SECTION B, LINE 15. THE PAYMENTS ARE REPORTED ON SCHEDULE J, PART II, COLUMN (B)(II).
PART I, LINE 8	THERE WAS ONE OFFICER WITH RESPECT TO WHOM AMOUNTS WERE REPORTED IN PART VII WHERE THOSE AMOUNTS WERE PAID OR ACCRUED PURSUANT TO A CONTRACT THAT WAS SUBJECT TO THE INITIAL CONTRACT EXCEPTION DESCRIBED IN REGS. SECTION 53.4958-4(A)(3). THE COMPENSATION WAS ALSO APPROVED PURSUANT TO PROCESSES CONSISTENT WITH THE REBUTTABLE PRESUMPTION PROCEDURE DESCRIBED IN REGS. SECTION 53.4958-6(C).
SCHEDULE J, PART II (GENERAL NOTES):	COLUMN (D): IN ADDITION TO THE EMPLOYER COST OF HEALTH, DENTAL AND OTHER NONTAXABLE BENEFITS AVAILABLE ON A NONDISCRIMINATORY BASIS, COLUMN (D) INCLUDES AMOUNTS AWARDED AS SCHOLARSHIP GRANTS TO CHILDREN OF EMPLOYEES UNDER THE UNIVERSITY'S NONDISCRIMINATORY QUALIFIED TUITION REDUCTION PLAN COVERING ALL ELIGIBLE FACULTY AND STAFF WITH SIX OR MORE YEARS OF SERVICE. COLUMN (F): COMPENSATION REPORTED IN PRIOR FORM 990: THIS AMOUNT IS ALSO INCLUDED IN COLUMN (E). IT IS, THEREFORE, DOUBLE REPORTED IN PART II AND DOES NOT REPRESENT ADDITIONAL COMPENSATION.

Schedule J (Form 990) 2015

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

2015

Open to Public
Inspection

Name of the organization
YALE UNIVERSITY

Employer identification number
06-0646973

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	STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY	06-0806186	20774LZC2	01-08-2003	250,000,000	TO FINANCE FACILITIES, ADDITIONS, IMPROVEMENTS, AND RENOVATIONS		X		X		X
B	STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY	06-0806186	20774UPP4	10-04-2007	414,292,000	TO FINANCE FACILITIES, ADDITIONS, IMPROVEMENTS, AND RENOVATIONS		X		X		X
C	STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY	06-0806186	20774UPQ2	10-04-2007	200,000,000	TO FINANCE FACILITIES, ADDITIONS, IMPROVEMENTS, AND RENOVATIONS		X		X		X
D	STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY	06-0806186	20774UU60	02-24-2010	579,984,034	TO FINANCE FACILITIES, ADDITIONS, IMPROVEMENTS, AND RENOVATIONS		X		X		X
	STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY	06-0806186	20774YPD3	07-02-2013	100,000,000	TO FULLY REDEEM CHEFA SERIES X1 BONDS ISSUED 1/2003		X		X		X
	STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY	06-0806186	20774YRW9	07-23-2014	250,000,000	TO FINANCE FACILITIES, ADDITIONS, IMPROVEMENTS, AND RENOVATIONS		X		X		X
	STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY	06-0806186	20774YWE3	07-01-2015	300,000,000	TO FULLY REDEEM CHEFA SERIES Y1, Y2, Y3 BONDS ISSUED 10/2005		X		X		X

Part II

Proceeds

	A		B		C		D
	1 Amount of bonds retired ..................
2 Amount of bonds legally defeased ..............
3 Total proceeds of issue ..................	252,221,323		424,106,796		204,478,448		580,160,339
4 Gross proceeds in reserve funds .............
5 Capitalized interest from proceeds .............
6 Proceeds in refunding escrows ...............
7 Issuance costs from proceeds ...............
8 Credit enhancement from proceeds .............
9 Working capital expenditures from proceeds .............
10 Capital expenditures from proceeds .............	252,221,323		424,106,796		204,478,448		490,643,522
11 Other spent proceeds .............	100,000,000				300,000,000		89,516,817
12 Other unspent proceeds .............			22,301,462
13 Year of substantial completion .............	2009		2012		2012		2012
	Yes	No	Yes	No	Yes	No	Yes	No
14 Were the bonds issued as part of a current refunding issue? ....		X		X		X	X
15 Were the bonds issued as part of an advance refunding issue? .....		X		X		X		X
16 Has the final allocation of proceeds been made? ..........	X		X		X		X
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? ..................	X		X		X		X

Part III

Private Business Use

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? .............		X		X		X		X
2 Are there any lease arrangements that may result in private business use of bond-financed property? ...............	X		X		X			X

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

Cat. No. 50193E

Schedule K (Form 990) 2015

Page 2

Part III

Private Business Use (Continued)

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
3a Are there any management or service contracts that may result in private business use of bond-financed property? .............	X		X		X		X
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property?		X		X		X		X
c Are there any research agreements that may result in private business use of bond-financed property? .............	X		X		X		X
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property?		X		X		X		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 ....	0.100 %		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 .........	0.100 %		0 %		0 %		0 %
6 Total of lines 4 and 5 .............	0.200 %		0 %		0 %		0 %
7 Does the bond issue meet the private security or payment test? ...		X		X		X		X
8a Has there been a sale or disposition of any of the bond-financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?.............		X		X		X		X
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of. ..
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? .............
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under Regulations sections 1.141-12 and 1.145-2? ........	X		X		X		X

Part IV

Arbitrage

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
1 Has the issuer filed Form 8038-T, 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 ..........
c Term of hedge .........
d Was the hedge superintegrated? ......
e Was the hedge terminated? ........

Schedule K (Form 990) 2015

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 ..........
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

DATE REBATE COMPUTATION PERFORMED

ISSUER NAME: STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORI DATE THE REBATE COMPUTATION WAS PERFORMED: 02/24/2015

SCHEDULE K, PART I, BOND ISSUE, COLUMN (F):

CHEFA BONDS ISSUED 2/24/2010 (CUSIP# 20774UU60) - AND TO DEFEASE CHEFA SERIES W BONDS ISSUED 4/2002. SCHEDULE K, PART II, PROCEEDS, QUESTION 3: TOTAL PROCEEDS OF ISSUE REPRESENT THE ISSUE PRICE (PART I, COLUMN (E)) PLUS ANY INVESTMENT EARNINGS. SCHEDULE K, PART III, PRIVATE BUSINESS USE, QUESTION 3B: DURING THE 12-MONTH PERIOD USED TO REPORT ON THE BOND ISSUES, THE ORGANIZATION ROUTINELY REVIEWED ANY MANAGEMENT OR SERVICE CONTRACTS RELATING TO THE FINANCED PROPERTY FOR PRIVATE BUSINESS USE, USING EITHER IN-HOUSE COUNSEL, OUTSIDE COUNSEL, OR PROFESSIONAL CONTRACT REVIEWERS TRAINED BY COUNSEL. SCHEDULE K, PART III, PRIVATE BUSINESS USE, QUESTION 3D: DURING THE 12-MONTH PERIOD USED TO REPORT ON THE BOND ISSUES, THE ORGANIZATION ROUTINELY REVIEWED RESEARCH AGREEMENTS RELATING TO THE FINANCED PROPERTY FOR PRIVATE BUSINESS USE, USING EITHER IN-HOUSE COUNSEL, OUTSIDE COUNSEL, OR PROFESSIONAL CONTRACT REVIEWERS TRAINED BY COUNSEL. SCHEDULE K, PART III, PRIVATE BUSINESS USE, QUESTIONS 4-5: IN CERTAIN CASES, A BOND ISSUE WITH AN ENTRY OF .00% MAY HAVE FINANCED PROPERTY WITH SOME PRIVATE BUSINESS USE. IN EACH OF THESE CASES, THE PRIVATE BUSINESS USE PERCENTAGE OF THE BOND ISSUE WAS LESS THAN 0.05% AS THE AMOUNTS ARE ROUNDED TO THE NEAREST TENTH OF A PERCENTAGE POINT, PURSUANT TO THE INSTRUCTIONS. SCHEDULE K, PART III, PRIVATE BUSINESS USE, QUESTIONS 4-6, BOND D, FIRST PAGE - CHEFA BONDS ISSUED 02/24/10 (CUSIP# 20774UU60): A PORTION OF THE BOND ISSUE WAS A CURRENT REFUNDING OF A PRE-2003 ISSUE, ONLY THE PRIVATE BUSINESS USE PERTAINING TO THE NEW MONEY PORTION OF THE 02/24/10 ISSUE IS REPORTED. SCHEDULE K, PART IV, ARBITRAGE, QUESTION 2C, BOND D, FIRST PAGE - CHEFA BONDS ISSUED 02/24/10 (CUSIP# 20774UU60): A PORTION OF THE BOND ISSUE RELATING TO THE CONSTRUCTION FUND IS SUBJECT TO REBATE. THE REBATE LIABILITY COMPUTED AT FEBRUARY 24, 2015 WAS NEGATIVE. SCHEDULE K, PART IV, ARBITRAGE, QUESTION 3, BOND C, FIRST PAGE - CHEFA BOND ISSUED 10/04/07 (CUSIP# 20774UPQ2): PURSUANT TO THE INSTRUCTIONS FOR PART IV, QUESTION 3, A VARIABLE RATE ISSUE IS AN ISSUE CONTAINING A BOND WITH A YIELD NOT FIXED AND DETERMINABLE ON THE ISSUE DATE. THE BOND ISSUE WAS CONVERTED TO A FIXED RATE IN 2008.

Schedule K (Form 990) 2015

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

2015

Open to Public
Inspection

Name of the organization
YALE UNIVERSITY

Employer identification number
06-0646973

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	STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY	06-0806186	20774LZC2	01-08-2003	250,000,000	TO FINANCE FACILITIES, ADDITIONS, IMPROVEMENTS, AND RENOVATIONS		X		X		X
B	STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY	06-0806186	20774UPP4	10-04-2007	414,292,000	TO FINANCE FACILITIES, ADDITIONS, IMPROVEMENTS, AND RENOVATIONS		X		X		X
C	STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY	06-0806186	20774UPQ2	10-04-2007	200,000,000	TO FINANCE FACILITIES, ADDITIONS, IMPROVEMENTS, AND RENOVATIONS		X		X		X
D	STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY	06-0806186	20774UU60	02-24-2010	579,984,034	TO FINANCE FACILITIES, ADDITIONS, IMPROVEMENTS, AND RENOVATIONS		X		X		X
	STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY	06-0806186	20774YPD3	07-02-2013	100,000,000	TO FULLY REDEEM CHEFA SERIES X1 BONDS ISSUED 1/2003		X		X		X
	STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY	06-0806186	20774YRW9	07-23-2014	250,000,000	TO FINANCE FACILITIES, ADDITIONS, IMPROVEMENTS, AND RENOVATIONS		X		X		X
	STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORITY	06-0806186	20774YWE3	07-01-2015	300,000,000	TO FULLY REDEEM CHEFA SERIES Y1, Y2, Y3 BONDS ISSUED 10/2005		X		X		X

Part II

Proceeds

	A		B		C		D
	1 Amount of bonds retired ..................
2 Amount of bonds legally defeased ..............
3 Total proceeds of issue ..................	252,221,323		424,106,796		204,478,448		580,160,339
4 Gross proceeds in reserve funds .............
5 Capitalized interest from proceeds .............
6 Proceeds in refunding escrows ...............
7 Issuance costs from proceeds ...............
8 Credit enhancement from proceeds .............
9 Working capital expenditures from proceeds .............
10 Capital expenditures from proceeds .............	252,221,323		424,106,796		204,478,448		490,643,522
11 Other spent proceeds .............	100,000,000				300,000,000		89,516,817
12 Other unspent proceeds .............			22,301,462
13 Year of substantial completion .............	2009		2012		2012		2012
	Yes	No	Yes	No	Yes	No	Yes	No
14 Were the bonds issued as part of a current refunding issue? ....		X		X		X	X
15 Were the bonds issued as part of an advance refunding issue? .....		X		X		X		X
16 Has the final allocation of proceeds been made? ..........	X		X		X		X
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? ..................	X		X		X		X

Part III

Private Business Use

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? .............		X		X		X		X
2 Are there any lease arrangements that may result in private business use of bond-financed property? ...............	X		X		X			X

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

Cat. No. 50193E

Schedule K (Form 990) 2015

Page 2

Part III

Private Business Use (Continued)

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
3a Are there any management or service contracts that may result in private business use of bond-financed property? .............	X		X		X		X
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property?		X		X		X		X
c Are there any research agreements that may result in private business use of bond-financed property? .............	X		X		X		X
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property?		X		X		X		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 ....	0.100 %		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 .........	0.100 %		0 %		0 %		0 %
6 Total of lines 4 and 5 .............	0.200 %		0 %		0 %		0 %
7 Does the bond issue meet the private security or payment test? ...		X		X		X		X
8a Has there been a sale or disposition of any of the bond-financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?.............		X		X		X		X
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of. ..
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? .............
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under Regulations sections 1.141-12 and 1.145-2? ........	X		X		X		X

Part IV

Arbitrage

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
1 Has the issuer filed Form 8038-T, 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 ..........
c Term of hedge .........
d Was the hedge superintegrated? ......
e Was the hedge terminated? ........

Schedule K (Form 990) 2015

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 ..........
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

DATE REBATE COMPUTATION PERFORMED

ISSUER NAME: STATE OF CONNECTICUT HEALTH AND EDUCATIONAL FACILITIES AUTHORI DATE THE REBATE COMPUTATION WAS PERFORMED: 02/24/2015

SCHEDULE K, PART I, BOND ISSUE, COLUMN (F):

Schedule K (Form 990) 2015

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

2015

Open to Public Inspection

Name of the organization

YALE UNIVERSITY

Employer identification number

06-0646973

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) SCOTT STROBEL	OFFICER	HOUSING		X	100,000	80,847		No		No	Yes









Total ............... $						80,847

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	(c) Amount of assistance	(d) Type of assistance	(e) Purpose of assistance
(1)	63,375	SCHOLARSHIPS	(SEE PART V)
(2)	475	PRIZE/AWARD	(SEE PART V)

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

Cat. No. 50056A

Schedule L (Form 990 or 990-EZ) 2015

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) RICECAN REALTY LP	(SEE PART V) A TRUSTEE AND FAMILY MEMBERS OWN >35%	108,195	(SEE PART V) INCOME DISTRIBUTION IN THE ORDINARY COURSE OF BUSINESS.		No
(2) STEFANIE MARKOVITS	(SEE PART V) SPOUSE OF BENJAMIN POLAK, AN OFFICER	152,892	(SEE PART V) COMPENSATION AND BENEFITS, PROFESSOR OF ENGLISH.		No
(3) MARTA MORET	(SEE PART V) SPOUSE OF PETER SALOVEY, AN OFFICER	65,308	(SEE PART V) COMPENSATION AND BENEFITS, ASSOCIATE.		No
(4) PATRICIA PREISIG	(SEE PART V) SPOUSE OF ROBERT ALPERN, A KEY EMPLOYEE	191,174	(SEE PART V) COMPENSATION AND BENEFITS, PROFESSOR, MEDICINE (NEPHROLOGY) AND CELLULAR AND MOLECULAR PHYSIOLOGY.		No
(5) WENDY SHARP	(SEE PART V) SPOUSE OF DEAN TAKAHASHI, A KEY EMPLOYEE	102,619	(SEE PART V) COMPENSATION AND BENEFITS, DIRECTOR OF CHAMBER MUSIC, LECTURER IN MUSIC.		No

Part V

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

Return Reference	Explanation
SCHEDULE L, PART II	ALL LOANS REPORTED ON SCHEDULE L, PART II WERE MADE AND APPROVED PURSUANT TO UNIVERSITY COMPENSATION POLICIES.
SCHEDULE L, PART III	THE SCHOLARSHIP GRANTS REPRESENT AMOUNTS AWARDED TO INTERESTED PERSONS UNDER THE UNIVERSITY'S NONDISCRIMINATORY QUALIFIED TUITION REDUCTION PLAN COVERING ALL ELIGIBLE FACULTY AND STAFF WITH SIX OR MORE YEARS OF SERVICE.IN ADDITION, A PRIZE/AWARD WAS AWARDED TO AN INTERESTED PERSON.

Schedule L (Form 990 or 990-EZ) 2015

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

2015

Open to Public Inspection

Name of the organization

YALE UNIVERSITY

Employer identification number

06-0646973

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	138	0
2 Art—Historical treasures .
3 Art—Fractional interests ..
4 Books and publications ..	X		0
5 Clothing and household goods .......	X		0
6 Cars and other vehicles ..
7 Boats and planes ....	X	1
8 Intellectual property ...
9 Securities—Publicly traded .	X	1,188	97,414,389	FAIR VALUE
10 Securities—Closely held stock .
11 Securities—Partnership, LLC, or trust interests ....	X	4	2,919,581	SALE OF COMP. PROPERTY
12 Securities—Miscellaneous ..	X	3	662,223	SALE OF COMP. PROPERTY
13 Qualified conservation contribution—Historic structures .....
14 Qualified conservation contribution—Other ...
15 Real estate—Residential .	X	2	386,241	SALE OF COMP. PROPERTY
16 Real estate—Commercial ..
17 Real estate—Other ...
18 Collectibles .....	X	14	41,302	SALE OF COMP. PROPERTY
19 Food inventory ...
20 Drugs and medical supplies .
21 Taxidermy ......
22 Historical artifacts ....
23 Scientific specimens ..
24 Archeological artifacts ...
25 Other ( EQUIPMENT )	X	6	0
26 Other ( MUSICAL INSTRUMENTS )	X	4	0
27 Other ( )
28 Other ( )

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

103

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) (2015)

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
PART I, COLUMN (B):	AMOUNTS REPRESENT THE NUMBER OF NON-CASH CONTRIBUTIONS RECEIVED AND RECORDED IN THE CENTRAL CONTRIBUTION DATABASE OF THE UNIVERSITY.
PART I, LINE 32B:	OCCASIONALLY, THE UNIVERSITY ENGAGES THIRD PARTIES (E.G., REAL ESTATE BROKERS, AUCTION HOUSES, INVESTMENT BROKERS, ETC.) TO SELL CERTAIN NON-CASH CONTRIBUTIONS.
PART I, LINE 33:	PURSUANT TO ACCOUNTING STANDARDS CODIFICATION 958 (ASC 958), THE UNIVERSITY DOES NOT CAPITALIZE ITS COLLECTIONS, INCLUDING WORKS OF ART, LITERARY WORKS, HISTORICAL TREASURES AND ARTIFACTS THAT ARE MAINTAINED IN ITS MUSEUMS AND LIBRARIES. NON-CASH CONTRIBUTIONS OF THIS NATURE ARE, THEREFORE, NOT RECOGNIZED AS REVENUE FOR FINANCIAL STATEMENT PURPOSES. THESE COLLECTIONS ARE PROTECTED AND PRESERVED FOR PUBLIC EXHIBITION, EDUCATION, RESEARCH AND THE FURTHERANCE OF PUBLIC SERVICE. OTHER NON-CASH CONTRIBUTIONS WITH NO READILY ASCERTAINABLE FAIR VALUE OR WHICH ARE DEEMED IMMATERIAL ARE NOT RECOGNIZED AS REVENUE FOR FINANCIAL STATEMENT PURPOSES.

Schedule M (Form 990) (2015)

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

2015

Open to Public
Inspection

Name of the organization

YALE UNIVERSITY

Employer identification number

06-0646973

Return Reference	Explanation
FORM 990, PART I, LINE 6:	TOTAL NUMBER OF VOLUNTEERS: VOLUNTEERS SUPPORT AND BENEFIT THE UNIVERSITY IN A WIDE VARIETY OF ACTIVITIES, PROGRAMS, AND SERVICES. WHILE YALE UNIVERSITY DOES NOT TRACK THE NUMBER OF ITS VOLUNTEERS, THE UNIVERSITY ESTIMATES THAT THE NUMBER OF VOLUNTEERS WAS APPROXIMATELY 8,300 DURING FYE 6/30/16. FORM 990, PART III, LINE 1: DESCRIPTION OF ORGANIZATION MISSION: YALE IS COMMITTED TO IMPROVING THE WORLD TODAY AND FOR FUTURE GENERATIONS THROUGH OUTSTANDING RESEARCH AND SCHOLARSHIP, EDUCATION, PRESERVATION, AND PRACTICE. YALE EDUCATES ASPIRING LEADERS WORLDWIDE WHO SERVE ALL SECTORS OF SOCIETY. WE CARRY OUT THIS MISSION THROUGH THE FREE EXCHANGE OF IDEAS IN AN ETHICAL, INTERDEPENDENT, AND DIVERSE COMMUNITY OF FACULTY, STAFF, STUDENTS, AND ALUMNI. FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS: IN ADDITION TO THE GRADUATE SCHOOL OF ARTS AND SCIENCES, THE UNIVERSITY HAS PROFESSIONAL SCHOOLS INCLUDING ARCHITECTURE, ART, DIVINITY, DRAMA, ENGINEERING AND APPLIED SCIENCE, FORESTRY AND ENVIRONMENTAL STUDIES, LAW, MANAGEMENT, MEDICINE, MUSIC, NURSING, AND PUBLIC HEALTH. FORM 990, PART III, LINE 4C, PROGRAM SERVICE ACCOMPLISHMENTS: IN FY2016, 2,765 OR 50%, OF UNDERGRADUATES RECEIVED NEED-BASED SCHOLARSHIPS OR GRANTS FROM YALE SOURCES OF $45,016 ON AVERAGE. ALL OF YALE'S GRADUATE AND PROFESSIONAL SCHOOLS PROVIDE FINANCIAL AID TO THEIR STUDENTS BASED ON THEIR INDIVIDUAL POLICIES AND PROCEDURES. THIS CATEGORY OF EXPENDITURES ALSO INCLUDES: THE OPERATION OF DINING HALLS THAT PROVIDED 2,772,890 MEALS TO STUDENTS, FACULTY AND STAFF; MAINTENANCE OF DORMITORIES HOUSING 4,643 UNDERGRADUATES AND 805 GRADUATE AND PROFESSIONAL SCHOOL STUDENTS; OPERATION AND MAINTENANCE OF ATHLETIC FACILITIES FOR THE 35 INTERCOLLEGIATE SPORTS, OVER 30 INTRAMURAL SPORTS, AND 50 CLUB SPORTS TEAMS OFFERED AT YALE. ALSO INCLUDED ARE PHYSICAL EDUCATION INSTRUCTION, PARKING FACILITIES, LAUNDRY FACILITIES, STUDENT CENTERS, AND OTHER FACILITIES AND PROGRAMS (INCLUDING EXTRACURRICULAR ACTIVITIES AND STUDENT HEALTH SERVICES) THAT PROVIDE SUPPORT, SERVICES, AND ACADEMIC/CULTURAL ENRICHMENT TO THE UNIVERSITY'S STUDENTS. FORM 990, PART III, LINE 4D OTHER PROGRAM SERVICES INCLUDE ACADEMIC SUPPORT, PUBLIC SERVICE, AND OTHER INSTITUTIONAL SUPPORT.
FORM 990, PART VI, SECTION A, LINE 1	THERE ARE TWO EX-OFFICIO TRUSTEES, THE GOVERNOR OF CONNECTICUT AND THE LIEUTENANT GOVERNOR OF CONNECTICUT. HISTORICALLY, THESE INDIVIDUALS DO NOT PARTICIPATE IN GOVERNANCE ACTIVITIES AT THE UNIVERSITY AND THEY ARE REPORTED AS INDEPENDENT.
FORM 990, PART VI, SECTION A, LINE 4	DURING THE FYE 6/30/16, THE YALE CORPORATION BY-LAWS WERE AMENDED TO ENHANCE ADMINISTRATIVE FLEXIBILITY BY MOVING FROM THE BY-LAWS TO A CORPORATION RESOLUTION SPECIFICATIONS OF THE RESPONSIBILITIES OF ONE OFFICER. IN ADDITION, THE BY-LAWS WERE AMENDED TO MODIFY THE TITLE OF ONE OFFICER AND PERMIT THE DESIGNATION OF SENIOR VICE PRESIDENTS.
FORM 990, PART VI, SECTION A, LINE 7A	THE GOVERNING BODY INCLUDES SIX ALUMNI TRUSTEES WHO ARE ELECTED BY THE ALUMNI.
FORM 990, PART VI, SECTION B, LINE 11	THE FORM 990 WAS REVIEWED BY SENIOR MANAGEMENT. IN ADDITION, THE UNIVERSITY DISTRIBUTED A DRAFT COPY OF FORM 990 TO THE CORPORATION AUDIT COMMITTEE, COMPRISED OF FOUR MEMBERS OF THE UNIVERSITY'S GOVERNING BODY. MEMBERS OF SENIOR MANAGEMENT MET WITH CERTAIN UNIVERSITY OFFICERS AND THE CORPORATION AUDIT COMMITTEE TO DISCUSS THE DRAFT FORM 990 AND ANSWER ANY QUESTIONS PRIOR TO FILING.
FORM 990, PART VI, SECTION B, LINE 12C	THE YALE UNIVERSITY CONFLICT OF INTEREST POLICY OBLIGATES EACH OFFICER, TRUSTEE, AND KEY EMPLOYEE TO PROMPTLY DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST AS DEFINED IN THE POLICY. EACH SUCH PERSON MUST SIGN A STATEMENT ANNUALLY AFFIRMING THAT HE OR SHE HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, AGREES TO COMPLY WITH THE POLICY, AND UNDERSTANDS THAT THE CORPORATION IS CHARITABLE AND IN ORDER TO MAINTAIN ITS EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. IN CONNECTION WITH ANY ACTUAL OR POSSIBLE CONFLICT OF INTEREST, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF HIS OR HER FINANCIAL INTEREST AND BE GIVEN THE OPPORTUNITY TO DISCLOSE ALL MATERIAL FACTS TO THE DIRECTOR AND MEMBERS OF THE COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER DISCLOSURE OF A POTENTIAL CONFLICT OF INTEREST, THE INTERESTED PERSON IS EXCUSED FROM THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS MADE, AND IS RECUSED FROM PARTICIPATING IN ANY VOTE ON THE MATTER.
FORM 990, PART VI, SECTION B, LINE 15	THE PROCESS FOR DETERMINING THE COMPENSATION OF THE PRESIDENT INCLUDED INITIAL REVIEW BY THE COMMITTEE ON COMPENSATION (THE COMPENSATION COMMITTEE) OF THE YALE CORPORATION (YALE UNIVERSITY'S GOVERNING BOARD), A RECOMMENDATION VOTED BY THE COMMITTEE TO THE YALE CORPORATION, AND FULL REVIEW AND VOTE BY THE YALE CORPORATION. BOTH REVIEWS INCLUDED REVIEW OF THE COMPENSATION OF SIMILARLY QUALIFIED INDIVIDUALS IN COMPARABLE POSITIONS AT OTHER UNIVERSITIES, AS COMPILED BY A PROFESSIONAL COMPENSATION CONSULTANT RETAINED BY THE COMPENSATION COMMITTEE FOR THE PURPOSE, AND REVIEW OF INFORMATION ON SUCH COMPARABLE POSITIONS FROM IRS FORMS 990 FOR SIMILAR ORGANIZATIONS; BOTH REVIEWS CONSIDERED SUCH DATA IN LIGHT OF THE PERFORMANCE OF THE PRESIDENT, WHICH WAS REVIEWED BY THE COMPENSATION COMMITTEE AND BY THE YALE CORPORATION. THE PROCEEDINGS OF THE COMPENSATION COMMITTEE, AND THE PROCEEDINGS OF THE YALE CORPORATION, EACH WERE DOCUMENTED IN MINUTES OF THE RESPECTIVE BODY, CONTEMPORANEOUSLY ADOPTED AND RETAINED IN THE RECORDS OF THE RESPECTIVE BODY, ALONG WITH THE DATA ON COMPARABLE COMPENSATION THAT WAS RELIED UPON. THE PROCESS FOR DETERMINING COMPENSATION OF THE OFFICERS CONSISTED OF REVIEW BY THE COMPENSATION COMMITTEE OF THE RECOMMENDATIONS MADE BY THE PRESIDENT, CONSIDERING THE PERFORMANCE OF EACH OFFICER, AND REVIEW OF DATA ON COMPENSATION OF SIMILARLY QUALIFIED INDIVIDUALS IN COMPARABLE POSITIONS AT SIMILAR ORGANIZATIONS, AS COLLECTED BY A PROFESSIONAL COMPENSATION CONSULTANT THROUGH SURVEYS; THE COMPENSATION COMMITTEE VOTED RECOMMENDATIONS ON COMPENSATION OF SUCH INDIVIDUALS TO THE YALE CORPORATION. THE YALE CORPORATION RECEIVED THE RECOMMENDATIONS OF THE COMPENSATION COMMITTEE, AND DISCUSSED THESE WITH THE PRESIDENT, WHO REVIEWED THE PERFORMANCE OF EACH OFFICER WITH THE YALE CORPORATION, AND ALSO THE COMPARABLE COMPENSATION INFORMATION. THE YALE CORPORATION THEN VOTED ON THE COMPENSATION OF EACH OFFICER. THE PROCEEDINGS OF THE COMPENSATION COMMITTEE AND OF THE CORPORATION EACH WERE DOCUMENTED IN MINUTES CONTEMPORANEOUSLY ADOPTED AND RETAINED IN THE RECORDS OF THE RESPECTIVE BODY, ALONG WITH THE DATA ON COMPARABLE COMPENSATION THAT WAS RELIED UPON. OF THE KEY EMPLOYEES, THE COMPENSATION OF THE DEAN, SCHOOL OF MEDICINE WAS RECOMMENDED BY THE PRESIDENT TO THE COMPENSATION COMMITTEE, AND REVIEWED BY THAT COMMITTEE IN CONJUNCTION WITH ITS REVIEW OF THE PERFORMANCE OF THE DEAN AND CONSIDERATION OF DATA ON THE COMPENSATION OF SIMILARLY QUALIFIED INDIVIDUALS IN COMPARABLE POSITIONS AT OTHER INSTITUTIONS COMPILED BY AN INDEPENDENT COMPENSATION CONSULTANT. THE COMPENSATION COMMITTEE VOTED TO APPROVE THE COMPENSATION, AND CONTEMPORANEOUSLY DOCUMENTED ITS PROCEEDINGS IN MINUTES RETAINED IN ITS RECORDS ALONG WITH THE COMPENSATION DATA RELIED UPON. WITH RESPECT TO THE CHIEF INVESTMENT OFFICER AND SENIOR DIRECTOR, INVESTMENTS, THE COMPENSATION COMMITTEE VOTED TO APPROVE THE COMPENSATION AFTER CONSIDERATION OF THE RECOMMENDATIONS OF THE PRESIDENT AND OF THE FOLLOWING: REVIEW OF THE PERFORMANCE OF EACH, INVESTMENT PERFORMANCE OF THE YALE ENDOWMENT OVER DESIGNATED PERIODS, OTHER PERFORMANCE-RELATED INFORMATION, AND AN ANALYSIS OF THE COMPENSATION OF SIMILARLY QUALIFIED INDIVIDUALS IN COMPARABLE POSITIONS AT TAXABLE AND TAX-EXEMPT ORGANIZATIONS PREPARED BY AN INDEPENDENT COMPENSATION CONSULTANT RETAINED FOR THE PURPOSE. THE COMPENSATION COMMITTEE CONTEMPORANEOUSLY DOCUMENTED ITS PROCEEDINGS IN MINUTES RETAINED IN ITS RECORDS ALONG WITH THE COMPENSATION DATA RELIED UPON. EXCEPT AS NOTED ABOVE, COMPENSATION DECISIONS FOR KEY EMPLOYEES WERE MADE BY THE EMPLOYEE'S SUPERVISOR IN ACCORDANCE WITH UNIVERSITY POLICIES AND PROCEDURES. NO MEMBER OF THE YALE CORPORATION WHO HAD A CONFLICT OF INTEREST WITH RESPECT TO A COMPENSATION ARRANGEMENT DESCRIBED ABOVE (I.E., BY VIRTUE OF A FAMILY OR BUSINESS RELATIONSHIP) PARTICIPATED IN THE COMPENSATION COMMITTEE REVIEW OR THE VOTE OF THE YALE CORPORATION WITH RESPECT TO SUCH COMPENSATION ARRANGEMENT.
FORM 990, PART VI, SECTION C, LINE 19	THE UNIVERSITY'S GOVERNING DOCUMENTS, INCLUDING ANY AMENDMENTS, FINANCIAL STATEMENTS AND STANDARDS OF BUSINESS CONDUCT ARE AVAILABLE ON THE UNIVERSITY'S WEBSITE OR UPON REQUEST.
FORM 990, PART VII, SECTION A:	COMPENSATION AND HOURS FOR A FORMER KEY EMPLOYEE AND TWO FORMER OFFICERS RELATE TO CONTINUING SERVICE IN NON-KEY EMPLOYEE OR NON-OFFICER POSITIONS. FORM 990, PART VII, SECTION A, COLUMN (A): CONTINUATION OF TITLES FOR EACH LISTED PERSON: PETER SALOVEY: PROFESSOR OF PSYCHOLOGY BRUCE D. ALEXANDER: & CAMPUS DEVELOPMENT ALEXANDER E. DREIER: VP & GENERAL COUNSEL EFFECTIVE 3/23/15 SHAUNA R. KING: VP FOR FINANCE & BUSINESS OPERATIONS UNTIL 8/31/15; STAFF CONSULTANT TO THE PRESIDENT & PROVOST EFFECTIVE 9/1/15 STEPHEN C. MURPHY: VP FOR FINANCE & CFO EFFECTIVE 9/1/15; ASSOCIATE VP FOR FINANCE PRIOR TO 9/1/15 EILEEN O'CONNOR: VP FOR COMMUNICATIONS EFFECTIVE 1/1/16 BENJAMIN POLAK: PROFESSOR OF ECONOMICS; PROFESSOR SCHOOL OF MANAGEMENT SCOTT A. STROBEL: & PROGRAM DEVELOPMENT; PROFESSOR OF MOLECULAR BIOPHYSICS AND BIOCHEMISTRY; PROFESSOR OF CHEMISTRY; HOWARD HUGHES MEDICAL INSTITUTE PROFESSOR ROBERT J. ALPERN: PROFESSOR OF MEDICINE (NEPHROLOGY) KHALID M. ABBED: ASSOCIATE PROFESSOR OF NEUROSURGERY; DIRECTOR, MINIMALLY INVASIVE SPINE SURGERY & SPINE TUMOR SURGERY MASOUD AZODI: DIRECTOR, MINIMALLY INVASIVE & ROBOTIC SURGERY; DIRECTOR OF MINIMALLY INVASIVE GYNECOLOGIC SURGERY FELLOWSHIP PETER G. SCHULAM: PROFESSOR, UROLOGY; DIRECTOR, YALE CANCER CENTER (INTERIM) LINDA K. LORIMER: SENIOR COUNSELOR TO THE PRESIDENT AND PROVOST DOROTHY K. ROBINSON: SENIOR COUNSELOR TO THE PRESIDENT MICHAEL J. DONOGHUE: & PROGRAM DEVELOPMENT; PROFESSOR OF ECOLOGY & EVOLUTIONARY BIOLOGY; PROFESSOR OF FORESTRY & ENVIRONMENTAL STUDIES
FORM 990, PART VII, SECTION A, COLUMN (B):	THE NUMBER OF HOURS REPORTED FOR EACH LISTED PERSON IS AN ESTIMATE. THE ESTIMATE FOR TRUSTEES INCLUDES MEETING TIME AND PREPARATION, AS WELL AS ATTENDANCE AT CERTAIN OFFICIAL UNIVERSITY FUNCTIONS DURING THE YEAR, BUT DOES NOT INCLUDE TRAVEL TIME OR ATTENDANCE AT OTHER EVENTS AS TRUSTEES. IN MANY CASES, THE ACTUAL AVERAGE HOURS PER WEEK FOR LISTED PERSONS, OTHER THAN TRUSTEES, EXCEEDED 50 HOURS. FORM 990, PART VII, SECTION B, COLUMN (C): THE AMOUNT REPORTED REPRESENTS DIRECT CASH PAYMENTS MADE DURING THE CALENDAR YEAR 2015 TO INDEPENDENT CONTRACTORS FOR SERVICES. FOR CONSTRUCTION SERVICES, THE FEES REPRESENT THE ENTIRE CONTRACT COST. FORM 990, PART IX, LINE 24: OTHER EXPENSES INCLUDE $1,971,526 OF STATE UNRELATED BUSINESS INCOME TAX.
FORM 990, PART XI, LINE 9:	CHANGE IN FUNDING STATUS OF DEFINED BENEFIT PLANS -393,574,000. ACTUARIAL ADJUSTMENTS FOR SPLIT INTEREST LIABILITY 9,196,231. ROUNDING 1,251.
FORM 990, SCHEDULE B, PART I	CONTRIBUTOR NO. 1 AND 2: THESE CONTRIBUTIONS REPRESENT PLEDGES. IT IS UNKNOWN AT THIS TIME WHETHER THE PLEDGES WILL BE SATISFIED WITH CASH OR NON-CASH PROPERTY.

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

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2015

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

2015

Open to Public Inspection

Name of the organization

YALE UNIVERSITY

Employer identification number

06-0646973

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) BOYLSTON LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 46-3324804	INVESTMENT	DE	-18,608,909	1,341,508,707	YALE UNIVERSITY
(2) YD SMA LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 46-3365267	INVESTMENT	DE	11,146,485	311,050,931	YALE UNIVERSITY
(3) HARBOR HILLS INVESTMENTS LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-0099423	INVESTMENT	DE	-610,803	20,284,835	YALE UNIVERSITY
(4) SARDOUS LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 02-0580383	INVESTMENT	DE	925,023	11,848,003	YALE UNIVERSITY
(5) WE 2 CHURCH STREET SOUTH LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 80-0066065	INVESTMENT	CT	600,000	9,125,009	YALE UNIVERSITY
(6) WE 135 COLLEGE STREET LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 30-0893138	INVESTMENT	DE	127,425	7,616,389	YALE UNIVERSITY
(7) ESV HOLDINGS LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-3980473	INVESTMENT	DE	0	6,290,681	YALE UNIVERSITY
(8) YALE GLOBAL ENTERPRISES LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 27-0859961	SUPPORTS HIGHER EDUCATION	CT	0	5,197,185	YALE UNIVERSITY
(9) ALPHA 9 LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 27-0982227	INVESTMENT	CT	0	3,451,348	YALE UNIVERSITY
(10) S PROPERTY HOLDING LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 27-3717440	INVESTMENT	CT	131,831	1,637,845	YALE UNIVERSITY
(11) GSWM INVESTMENTS LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 27-3717358	INVESTMENT	CT	85,204	1,151,790	YALE UNIVERSITY
(12) FENIX I LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-2863129	INVESTMENT	DE	0	980,711	YALE UNIVERSITY
(13) PASSIVE HOLDING LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 22-3783661	INVESTMENT	NJ	0	965,602	YALE UNIVERSITY
(14) AMISTAD PARTNERS LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 73-1683601	INVESTMENT	CT	0	599,975	YALE UNIVERSITY
(15) YALE STUDENT INVESTMENT FUND LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 46-3851735	INVESTMENT	DE	1,239	444,463	YALE UNIVERSITY
(16) FLATIRON FUNDING II LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 42-1688137	INVESTMENT	DE	0	229,255	YALE UNIVERSITY
(17) 41 NORTH LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-1594874	INVESTMENT	DE	0	4,995	YALE UNIVERSITY
(18) 4610 SOUTH 133RD STREET LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-0646973	INVESTMENT	NE	0	0	YALE UNIVERSITY
(19) BETA 14 LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 27-0982129	INACTIVE	CT	0	0	YALE UNIVERSITY
(20) BLUEFIELD TIMBER LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 02-0520556	INVESTMENT	DE	0	0	41 NORTH LLC
(21) ENDURANCE LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-1606540	INVESTMENT	DE	0	0	YALE UNIVERSITY
(22) MEDICAL PRACTICE MANAGEMENT LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 27-1545102	ADMINISTRATIVE SERVICES	CT	0	0	YALE UNIVERSITY
(23) MOMS PARTNERSHIP LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-0646973	SUPPORTS WELLNESS INITIATIVES	CT	0	0	YALE UNIVERSITY
(24) RENAISSANCE I LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-2863298	INVESTMENT	DE	0	0	YALE UNIVERSITY
(25) THE UK FRIENDS OF YALE UNIVERSITY LIMITED C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 98-0552738	ACCEPTS CHARITABLE CONTRIBUTIONS	UK	828,688	0	YALE UNIVERSITY
(26) YALE EDUCATIONAL CONSULTING (BEIJING) LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 98-1006940	SUPPORTS HIGHER EDUCATION	CH	0	0	YALE GLOBAL ENTERPRISES LLC
(27) YALE LEADERSHIP (BEIJING) EDUCATIONAL CONSULTING CO LTD C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 98-1200465	SUPPORTS HIGHER EDUCATION	CH	0	0	YALE GLOBAL ENTERPRISES LLC

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)3C CORPORATION C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 41-2046529	INVESTMENT	DC	501(C)(3)	11, TYPE I	YALE UNIVERSITY	Yes
(2)5C CORPORATION C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-0763050	INVESTMENT	DC	501(C)(3)	11, TYPE I	YALE UNIVERSITY	Yes
(3)ALUMNI FUND ASSOCIATION OF YALE UNIVERSITY C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-6078326	ENCOURAGES AND SOLICITS CONTRIBUTIONS TO OR FOR YALE UNIVERSITY	CT	501(C)(3)	11, TYPE I	YALE UNIVERSITY	Yes
(4)CHAPEL COMPANY C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-1532073	INACTIVE	CT	501(C)(2)	N/A	YALE UNIVERSITY	Yes
(5)CHARLES A COFFIN MEMORIAL FUND C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-6034841	SUPPORTS HIGHER EDUCATION	CT	501(C)(3)	11, TYPE III- O	YALE UNIVERSITY	Yes
(6)FW & ELSIE HEYL SCIENCE SCHOLARSHIP FUND C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 38-6194019	SUPPORTS HIGHER EDUCATION	MI	501(C)(3)	11, TYPE III-O	N/A		No
(7)FOUNDING FATHERS PAPERS INC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 22-2365602	SUPPORTS AND FACILITATES PUBLICATIONS	NJ	501(C)(3)	11, TYPE I	N/A		No
(8)GRUBER FOUNDATION THE C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 45-1540594	SUPPORTS HIGHER EDUCATION	DE	501(C)(3)	11, TYPE I	YALE UNIVERSITY	Yes
(9)HEALTH BENEFITS HOLDINGS INC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-1559155	INVESTMENT	CT	501(C)(2)	N/A	YALE UNIVERSITY		No
(10)HR PROPERTIES INC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-1341463	INVESTMENT	CT	501(C)(2)	N/A	YALE UNIVERSITY	Yes
(11)JONATHAN EDWARDS TRUST C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-6084676	SUPPORTS HIGHER EDUCATION	CT	501(C)(3)	11, TYPE III-FI	YALE UNIVERSITY	Yes
(12)PAUL MELLON CENTRE FOR STUDIES IN BRITISH ART C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 22-3783661	PROMOTES AND SUPPORTS STUDY OF BRITISH ART AND ARCHITECTURE	UK	501(C)(3)	N/A	YALE UNIVERSITY	Yes
(13)PROSPECT STREET HOLDINGS INC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-1424260	TITLE HOLDING COMPANY	CT	501(C)(2)	N/A	YALE UNIVERSITY	Yes
(14)RICHARD U LIGHT FOUNDATION C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 38-2456949	SUPPORTS EDUCATION	MI	501(C)(3)	11, TYPE I	N/A		No
(15)RTA INCORPORATED C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-0768741	SUPPORTS EDUCATION	CT	501(C)(3)	11, TYPE III - FI	N/A		No
(16)STAFF RETIREMENT HOLDINGS INC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-1559156	INVESTMENT	CT	501(C)(2)	N/A	YALE UNIVERSITY		No
(17)STOECKEL E B RESIDUE TRUST C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-0653108	INVESTMENT	CT	501(C)(3)	11, TYPE III-FI	YALE UNIVERSITY	Yes
(18)THE BOARD OF TRUSTEES OF THE SHEFFIELD SCIENTIFIC SCHOOL C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-6032565	PROMOTES THE STUDY OF THE PHYSICAL, NATURAL AND MATHEMATICAL SCIENCES	CT	501(C)(3)	11, TYPE II	YALE UNIVERSITY	Yes
(19)THE CHIEF EXECUTIVE LEADERSHIP INSTITUTE OF THE YALE SCHOOL OF MGMT INC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 58-2617787	PROVIDES RESEARCH AND PEER-DRIVEN EDU. PROGRAMS TO BUSINESSES	DE	501(C)(3)	11, TYPE I	YALE UNIVERSITY	Yes
(20)UW EUGENE HIGGINS CHAR TRUST NMA C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 13-6073358	SUPPORTS EDUCATION	NY	501(C)(3)	11, TYPE III - O	N/A		No
(21)YALE ALUMNI ASSOCIATION OF CLEVELAND C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 34-1218706	SUPPORTS EDUCATION	OH	501(C)(3)	11, TYPE III - FI	N/A		No
(22)YALE ALUMNI PUBLICATIONS INC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-0646970	DISTRIBUTES ALUMNI MAGAZINE	CT	501(C)(3)	11, TYPE III-FI	N/A		No
(23)YALE ALUMNI SCHOLARSHIP OF CLEVELAND INC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 34-6523145	FUNDS SCHOLARSHIPS	OH	501(C)(3)	11, TYPE III - FI	N/A		No
(24)YALE CLUB OF CENTRAL NEW JERSEY C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 22-6048686	FUNDS SCHOLARSHIPS	NJ	501(C)(3)	11, TYPE III - O	N/A		No
(25)YALE SCHOLARSHIP FUND OF PITTSBURGH C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 23-7046816	FUNDS SCHOLARSHIPS	PA	501(C)(3)	11, TYPE III - FI	N/A		No
(26)YALE SCHOLARSHIP TRUST OF BOSTON C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 04-6113108	FUNDS SCHOLARSHIPS	MA	501(C)(3)	11, TYPE III - FI	N/A		No
(27)YALE SOUTHERN OBSERVATORY INC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-6068906	RESEARCH AND EDUCATION	CT	501(C)(3)	7	YALE UNIVERSITY	Yes
(28)YALE UNIVERSITY ELIZABETHAN CLUB CORP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-0332975	PROMOTES APPRECIATION OF LITERATURE AMONG MEMBERSHIP AND COMMUNITY	CT	501(C)(3)	11, TYPE III - FI	YALE UNIVERSITY	Yes
(29)YALE UNIVERSITY PRESS LONDON C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239	PUBLISHES SERIOUS WORKS	UK	501(C)(3)	N/A	YALE UNIVERSITY	Yes
(30)YALE UNIVERSITY RETIREE HEALTH BENEFITS COVERAGE TRUST C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-6414276	501(A) TRUST THAT SUPPORTS YALE UNIVERSITY	CT	501(C)(3)	11, TYPE II	YALE UNIVERSITY	Yes
(31)YALE WISCONSIN SCHOLARSHIP FUND C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 39-6065573	FUNDS SCHOLARSHIPS	WI	501(C)(3)	11, TYPE III - O	N/A		No
(32)YALE-NEW HAVEN MEDICAL CENTER INC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 23-7440891	SUPPORTS JOINT PROGRAMS OF YALE-NEW HAVEN HOSPITAL AND YALE UNIVERSITY	CT	501(C)(3)	11, TYPE III - FI	N/A		No

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

Cat. No. 50135Y

Schedule R (Form 990) 2015

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) FOURTH CENTURY LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 41-2046537	INVESTMENT	DE	YALE UNIVERSITY	EXCLUDED FROM TAX	789,312,153	9,169,625,692	Yes		-47,161,302		No	99.800 %
(2) FIFTH CENTURY LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-0763076	INVESTMENT	NV	YALE UNIVERSITY	EXCLUDED FROM TAX	940,322,808	5,589,767,466	Yes		-2,871,948		No	99.800 %
(3) LAUREL 2008 LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-1649501	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	316,817,200	1,705,111,718	Yes		1,970,196		No	99.600 %
(4) BBF I HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-8497574	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	211,513,202	1,107,229,517		No			No	99.600 %
(5) 667 LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-1609184	INVESTMENT	DE	BBF I HOLDINGS LP	EXCLUDED FROM TAX	135,515,011	1,082,329,418		No			No	84.300 %
(6) LONG TERM VALUE FUND LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 98-0623624	INVESTMENT	CJ	LAUREL 2008 LP	EXCLUDED FROM TAX	59,790,357	794,434,112		No			No	99.600 %
(7) YB INSTITUTIONAL LIMITED PARTNERSHIP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 04-3431530	INVESTMENT	DE	YALE UNIVERSITY	EXCLUDED FROM TAX	25,599,428	740,145,645	Yes		3,003,674		No	98.800 %
(8) FARALLON CAPITAL INSTITUTIONAL PARTNERS II LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 94-3106692	INVESTMENT	CA	YALE UNIVERSITY	EXCLUDED FROM TAX	3,355,846	602,726,445	Yes		5,739		No	90.790 %
(9) CYR HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-0788802	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	1,957,931	547,445,541		No			No	99.600 %
(10) YHG INVESTMENT LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239	INVESTMENT	CJ	GAOLING YALI FEEDER LTD	EXCLUDED FROM TAX	123,800,168	463,288,637		No			No	77.910 %
(11) PROSPECT STREET PARTNERS LTD C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 59-3041479	INVESTMENT	FL	YALE UNIVERSITY	EXCLUDED FROM TAX	25,716,480	440,931,270		No			No	82.430 %
(12) CRS MASTER FUND LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 45-2658870	INVESTMENT	CJ	CRS FUND LTD	EXCLUDED FROM TAX	68,570,820	434,657,010		No			No	88.750 %
(13) SP II HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-0697863	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	37,084,875	345,308,933	Yes		843,420		No	99.600 %
(14) LUXIVER LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 45-1504333	INVESTMENT	DE	YALE UNIVERSITY	EXCLUDED FROM TAX	-21,307,270	333,230,981		No	-6,849,201		No	99.610 %
(15) EASTON 2007 LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-0627974	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	65,722,736	312,353,710	Yes		-16,593		No	99.600 %
(16) YELLOW WARBLER LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-0342603	INVESTMENT	TX	FOURTH CENTURY LLC	EXCLUDED FROM TAX	3,997,873	293,240,914	Yes		-177,496		No	98.980 %
(17) FOXWAY LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 46-3794906	INVESTMENT	DE	YALE UNIVERSITY	EXCLUDED FROM TAX	20,846,832	292,863,876		No			No	98.020 %
(18) KTOWN LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 27-4278453	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	-7,089,689	226,930,720		No			No	97.840 %
(19) NIFL HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-8973999	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	-5,118,098	221,167,661		No			No	99.600 %
(20) NOGA PARTNERS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-1192059	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	-3,471,192	206,778,402	Yes		-41,759		No	94.070 %
(21) STRATEGIC RESIDENTIAL FUND II LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 04-3584406	INVESTMENT	DE	YALE UNIVERSITY	EXCLUDED FROM TAX	-1,452,606	151,489,683		No			No	95.000 %
(22) MORRIS ISLAND PARTNERS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 46-4538290	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	-17,916,675	140,278,311		No			No	96.720 %
(23) Y2K PARTNERS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 71-1007459	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	2,239,560	133,378,232		No			No	99.240 %
(24) BLUEBART LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 38-3979963	INVESTMENT	DE	YALE UNIVERSITY	EXCLUDED FROM TAX	237,331	125,686,441	Yes				No	99.710 %
(25) KHP FUND II LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-5882068	INVESTMENT	CA	FOURTH CENTURY LLC	EXCLUDED FROM TAX	82,647,011	111,608,033	Yes		-552,097		No	60.180 %
(26) JPF V HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-2008388	INVESTMENT	NV	FIFTH CENTURY LP	UNRELATED	2,910,092	101,413,706	Yes		2,540,932		No	99.600 %
(27) CYR FUND LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-0270646	INVESTMENT	DE	CYR HOLDINGS LP	EXCLUDED FROM TAX	817,044	101,056,411		No			No	89.820 %
(28) JBG INVESTMENT FUND III LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 52-2384738	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	1,140,663	99,097,613	Yes		-187,372		No	59.790 %
(29) JBG INVESTMENT FUND IV LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 01-0815265	INVESTMENT	DE	FOURTH CENTURY LLC	UNRELATED	-2,596,548	97,419,630	Yes		-2,660,618		No	59.880 %
(30) M&H REALTY PARTNERS VI LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 57-1182074	INVESTMENT	CA	FOURTH CENTURY LLC	EXCLUDED FROM TAX	-375,201	95,291,802		No			No	52.890 %
(31) KHP FUND I LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 65-1232049	INVESTMENT	CA	FOURTH CENTURY LLC	EXCLUDED FROM TAX	49,713,724	88,962,055	Yes		457,639		No	50.810 %
(32) CAUTHEN VII LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-3653027	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	548,153	87,807,750	Yes		362,080		No	79.840 %
(33) BAYROOT LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-0390410	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	4,770,639	74,668,108		No			No	93.940 %
(34) RCP II HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-0444200	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	16,149,875	73,905,198		No			No	99.600 %
(35) IVP VI HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-8699381	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	40,679,819	60,522,416	Yes		-54,746		No	99.600 %
(36) CAUTHEN VI LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-8202030	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	-2,824,129	60,060,293	Yes		-538,482		No	79.840 %
(37) TDRC II-A LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-5025534	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX		59,748,854		No			No	99.600 %
(38) SEDGWICK LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-0483594	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	8,877,929	59,242,642		No			No	79.840 %
(39) AEF 5 US HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-4076676	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	5,915,638	57,496,528		No			No	99.600 %
(40) OMAHA LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239	INVESTMENT	CA	OM HOLDINGS LP	EXCLUDED FROM TAX	-2,714,964	49,717,134		No			No	98.600 %
(41) MEP IX LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 75-2537935	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	8,384,070	48,819,773		No			No	100.000 %
(42) OSCEOLA LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-2008431	INVESTMENT	NV	FIFTH CENTURY LP	UNRELATED	1,369,801	47,819,744	Yes		1,195,732		No	79.840 %
(43) RCP HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-2008465	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	4,763,662	41,865,343		No			No	99.600 %
(44) SP 8 HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-0558478	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	-226,653	40,387,216		No			No	99.600 %
(45) ABINGDON LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 61-1707283	INVESTMENT	DE	FOURTH CENTURY LLC	UNRELATED	-227,187	38,654,568	Yes		-519,812		No	79.840 %
(46) GLOSTER LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-1263980	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	11,270,153	37,811,279	Yes		-337,464		No	79.840 %
(47) RAMSGATE VIII LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-5259910	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX		36,080,440		No			No	79.840 %
(48) ALAMANCE VII LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 45-2046522	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	3,780,774	35,904,430		No			No	79.840 %
(49) YADKIN IV LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 46-1569715	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	5,746,383	33,901,472		No			No	79.840 %
(50) BCAF HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-8453177	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	5,014,673	33,457,725		No			No	99.600 %
(51) WOODWAY LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-1206761	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	9,725,288	32,398,154		No			No	79.840 %
(52) BCVF 2007 HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-5965183	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	1,612,093	32,308,468		No			No	99.600 %
(53) CAUTHEN VIII LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 45-2750613	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	2,745,449	32,090,239	Yes		253,675		No	79.840 %
(54) NLVF II HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-1545222	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	521,418	31,633,292		No			No	99.600 %
(55) JPS HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-8909921	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	3,005,250	31,539,961		No			No	99.600 %
(56) AEF 6 US HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-2867531	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	4,893,182	31,197,525	Yes		-10,354		No	99.600 %
(57) VEITCH LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 45-0999084	INVESTMENT	DE	FOURTH CENTURY LLC	UNRELATED	619,901	31,066,614	Yes		-659,769		No	79.840 %
(58) CAUTHEN IX LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 46-5376519	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	-55,247	30,530,425	Yes		-38		No	79.840 %
(59) HEVP II HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-1828824	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	1,947,883	30,350,266		No			No	99.600 %
(60) UHLE LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 27-3981909	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	6,083,802	30,179,171	Yes		-115,557		No	79.840 %
(61) FARALLON CAPITAL INSTITUTIONAL PARTNERS 25 LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 94-3388317	INVESTMENT	DE	YALE UNIVERSITY	UNRELATED	7,651,490	29,449,128	Yes		8,201,351		No	87.260 %
(62) FULTON LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-0165041	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	5,871,279	29,204,937		No			No	79.840 %
(63) WYNNWOOD VIII LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-3294405	INVESTMENT	NV	FIFTH CENTURY LP	UNRELATED	-414,144	29,174,251	Yes		-1,113,913		No	79.840 %
(64) WINDOM LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-1768804	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	4,903,905	27,505,761	Yes		10,568		No	79.840 %
(65) IRIS 2009 LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-4100777	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	2,896,908	27,033,514		No			No	99.600 %
(66) HERNDON LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 37-1659934	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	37,026	26,900,030		No			No	79.840 %
(67) KENWOOD LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 38-3863347	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	321,383	26,847,921		No			No	79.840 %
(68) RAMSGATE X LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 27-3616177	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	3,577,650	26,291,704		No			No	79.840 %
(69) MERRIWEATHER LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 04-3664410	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	22,587,625	25,551,922		No			No	98.800 %
(70) MOTUS FUND LTD C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 98-1253737	INVESTMENT	CJ	YALE UNIVERSITY	EXCLUDED FROM TAX	42,919	25,415,252		No		Yes		99.400 %
(71) VERNON LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 80-0904292	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	51,131	25,394,228		No			No	79.840 %
(72) TYPHOON LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 01-0685132	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	65,147	24,995,677		No			No	91.270 %
(73) RIDGEFIELD VIII LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-1603389	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	16,722,431	24,911,148	Yes		445,644		No	79.840 %
(74) RIDGEFIELD IX LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 90-1007364	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	9,104,722	24,390,528		No			No	79.840 %
(75) TILDEN II LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 27-4210952	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	368,081	23,139,919		No			No	79.840 %
(76) RADFORD LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 45-5470954	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	152,281	22,912,058		No			No	79.840 %
(77) FIF IV (CFA) HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-4764198	INVESTMENT	NV	FIFTH CENTURY LP	UNRELATED	-31,533	22,449,416	Yes		-63,691		No	99.600 %
(78) WYNNWOOD II LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-5548320	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	304,778	22,179,218	Yes		-292,986		No	79.840 %
(79) HEVP HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-4982016	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	-986,926	21,719,233		No			No	99.600 %
(80) POE LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-2765485	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	893,321	21,208,733	Yes		-108,207		No	79.840 %
(81) YADKIN LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-2707395	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	5,243,920	20,544,417		No			No	79.840 %
(82) ALDERBROOK LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-2939768	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	5,979,573	20,353,571	Yes		-398,878		No	79.840 %
(83) CALVERT VI LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-1603346	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	278,680	20,226,909	Yes		-3,029,670		No	79.840 %
(84) DANVILLE LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 45-3531407	INVESTMENT	DE	FOURTH CENTURY LLC	UNRELATED	716,953	20,087,907	Yes		590,199		No	79.840 %
(85) RAMSGATE XI LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 46-5209548	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX		19,805,748		No			No	79.840 %
(86) SCOTT LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 27-3616316	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	8,663,713	19,173,278	Yes		-353,750		No	79.840 %
(87) LCPF V HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-2776532	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	14,583,994	19,083,022		No			No	99.600 %
(88) FILLMORE LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 45-3783115	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	120,382	18,598,103		No			No	79.840 %
(89) HUIDIKOPER LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-4196504	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	1,935,142	18,058,453		No			No	79.840 %
(90) STRATEGIC RESIDENTIAL FUND I LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 04-3398268	INVESTMENT	DE	YALE UNIVERSITY	EXCLUDED FROM TAX	5,269,298	18,043,540	Yes				No	92.500 %
(91) MANASLU FUND LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 98-0615593	INVESTMENT	CJ	MP-MF HOLDINGS LP	EXCLUDED FROM TAX	11,153,804	17,960,469		No			No	95.320 %
(92) MP-MF HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-2099979	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	10,848,266	17,862,262		No			No	99.600 %
(93) KCF HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-8861865	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	932,330	17,658,886		No			No	99.600 %
(94) PEPF IV HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-0290250	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	26,045,066	17,524,202		No			No	99.600 %
(95) ALAMANCE LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-2575524	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	40,373	17,519,062		No			No	79.840 %
(96) CALVERT LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-3960036	INVESTMENT	NV	FIFTH CENTURY LP	UNRELATED	-4,196,651	17,431,929	Yes		-3,636,443		No	79.840 %
(97) TILDEN III LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 46-2024260	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	187,737	17,284,620		No			No	79.840 %
(98) WHITEHAVEN X LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 27-5205346	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	699,411	16,198,220		No			No	79.840 %
(99) CLEVELAND LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 90-0743297	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	2,446,900	16,025,712		No			No	79.840 %
(100) LORTON LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 45-4238865	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	203,121	15,693,547	Yes		-17,685		No	79.840 %
(101) KENWOOD 2014 LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 46-5704870	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	3,820	15,175,373		No			No	79.840 %
(102) DENT LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-4202230	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	1,505,394	14,631,547		No			No	79.840 %
(103) MANASLU FUND II LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 98-1158285	INVESTMENT	CJ	FOURTH CENTURY LLC	EXCLUDED FROM TAX	-1,253	14,555,225		No			No	61.600 %
(104) GEF II HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-0348232	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	19,702,625	14,540,888		No			No	99.600 %
(105) WHITEHAVEN LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-3915778	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	860,430	14,538,587		No			No	79.840 %
(106) IVA II HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-2652041	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	87,295	14,479,998		No			No	99.600 %
(107) RIDGEFIELD LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-2022850	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	9,074,719	14,367,677		No			No	79.840 %
(108) VOLTA IV LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 27-0914710	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	4,693,524	13,427,377	Yes		564,822		No	79.840 %
(109) GARFIELD LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-4592367	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	5,086,965	13,305,606	Yes		407		No	79.840 %
(110) DENT VI LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-2867610	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	1,983,242	12,644,513	Yes		-4,188		No	79.840 %
(111) FRESHET WIND ENERGY LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 33-1200160	INVESTMENT	DE	FWEB LLC	EXCLUDED FROM TAX	-367,202	12,538,612		No			No	79.840 %
(112) MACOMB XI LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 80-0958889	INVESTMENT	DE	FOURTH CENTURY LLC	UNRELATED	-89,171	12,171,859	Yes		-163,977		No	79.840 %
(113) WHITEHAVEN XI LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 37-1738599	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	109,238	11,898,930		No			No	79.840 %
(114) CORBIN VII LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 47-2456807	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	835,481	11,740,467		No			No	79.840 %
(115) CORBIN LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-1263962	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	1,400,039	11,210,468	Yes		-19,118		No	79.840 %
(116) ALAMANCE A LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-3484520	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	24,844	10,780,961		No			No	79.840 %
(117) ARLINGTON LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 38-3909979	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX		10,586,826		No			No	79.840 %
(118) ECP II HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-0151337	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	3,150,483	10,547,044		No			No	99.600 %
(119) MEP IV HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-0646713	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	2,085,758	10,499,657		No			No	99.600 %
(120) QUINN LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-3879664	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	405,658	10,412,262		No			No	79.840 %
(121) ALAMANCE VI LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-8558864	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX		10,046,000		No			No	79.840 %
(122) EDMUNDS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-4257832	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	2,954,720	9,850,966	Yes		67,273		No	79.840 %
(123) HAWTHORNE III LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-0854590	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	3,282,803	9,823,378		No			No	79.840 %
(124) HARBOR HILLS HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 02-0729602	INVESTMENT	DE	YALE UNIVERSITY	UNRELATED	-668,015	9,450,255	Yes		-668,015		No	55.000 %
(125) BARTON LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 35-2497887	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	10,871	9,102,836		No			No	79.840 %
(126) FESSENDEN LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-2270383	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	1,259,105	9,065,059		No			No	79.840 %
(127) GLOSTER III LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-8833953	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	5,151,363	8,786,786		No			No	79.840 %
(128) HARBOR HILLS DEVELOPMENT LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 16-1453802	INVESTMENT	DE	HARBOR HILLS HOLDINGS LP	UNRELATED	-165,041	8,778,703		No	-165,041		No	54.450 %
(129) WYNNWOOD LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-1363230	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	494,144	8,709,950	Yes		55,837		No	79.840 %
(130) VOLTA LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-3738749	INVESTMENT	NV	FIFTH CENTURY LP	UNRELATED	-174,118	8,680,105	Yes		-183,362		No	79.840 %
(131) BE III HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-5495967	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	66,140	8,232,368		No			No	99.600 %
(132) BOF HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-5923569	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	1,313,072	8,053,510		No			No	99.600 %
(133) CHANDLER LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 32-0438514	INVESTMENT	DE	FOURTH CENTURY LLC	UNRELATED	-85,067	7,984,296	Yes		-140,899		No	79.840 %
(134) FRC II HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-1670120	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	30,124,316	7,904,151		No			No	99.600 %
(135) GHEP III HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-3853985	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	20,066,886	7,540,028		No			No	99.600 %
(136) RAMSGATE LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-0419757	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	5,524,727	7,513,245		No			No	79.840 %
(137) ODE IV LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 61-1724296	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	1,190,539	7,121,134		No			No	79.840 %
(138) SANGAMORE III LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-0753284	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	6,946,533	7,054,431		No			No	79.840 %
(139) YADKIN III LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-2477930	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	6,803,443	7,013,558		No			No	79.840 %
(140) RAMSGATE IX LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-8833887	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	11,204,729	6,526,867		No			No	79.840 %
(141) AVON LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-4056103	INVESTMENT	NV	FIFTH CENTURY LP	UNRELATED	15,073	6,515,398	Yes		12,523		No	79.840 %
(142) GOLDSBORO LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-1996058	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	2,211,610	6,507,595	Yes		-464,387		No	79.840 %
(143) ORDWAY LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-5189347	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	1,366,542	6,113,867	Yes		-96,177		No	79.840 %
(144) WILSON LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-2232279	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	-1,162,379	5,840,264		No			No	79.840 %
(145) CAUTHEN LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-2776143	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	-1,987,608	5,681,830	Yes		-118,378		No	79.840 %
(146) BARTON-A LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 61-1732894	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	938	5,248,470		No			No	79.840 %
(147) DUMBARTON LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-3919432	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	1,944,595	4,658,688		No			No	79.840 %
(148) KENWOOD 2014-A LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 46-5722301	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	64	3,806,228		No			No	79.840 %
(149) DENT A LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-8725065	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	391,405	3,804,213		No			No	79.840 %
(150) LORTON-A LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 45-4239136	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	217,291	3,717,625		No			No	79.840 %
(151) YUMA LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-1584783	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	5,424,727	3,649,958		No			No	79.840 %
(152) MACOMB VIII LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-5681131	INVESTMENT	NV	FIFTH CENTURY LP	UNRELATED	256,683	3,509,361	Yes		-532,156		No	79.840 %
(153) CHICAGO LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239	INVESTMENT	CA	FIFTH CENTURY LP	EXCLUDED FROM TAX	-265,181	3,458,083		No			No	98.800 %
(154) OGDEN LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-1212114	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	3,574,475	3,097,891		No			No	79.840 %
(155) WESTPATH LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-2297672	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	2,473,939	2,890,096	Yes		-1,504		No	79.840 %
(156) KLINGLE LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-4592461	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	986,950	2,548,670	Yes		-46		No	79.840 %
(157) MACOMB IX LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-5025458	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	13,262,064	2,493,501	Yes		-71		No	79.840 %
(158) RAMSGATE IX A LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 26-1797786	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	4,074,446	2,373,409		No			No	79.840 %
(159) SF-NEW PARTNERS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 92-0179258	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	824,110	2,052,921		No			No	87.310 %
(160) ANACONDA LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239	INVESTMENT	CA	FIFTH CENTURY LP	EXCLUDED FROM TAX	-1,279,222	1,951,732		No			No	98.800 %
(161) ODE LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 37-1567347	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	5,305,308	1,669,168		No			No	79.840 %
(162) GREENFIELD LAND PARALLEL PARTNERS I LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-4411467	INVESTMENT	DE	FOURTH CENTURY LLC	UNRELATED	-2,243,252	1,462,879	Yes		-2,451,281		No	98.800 %
(163) TILDEN LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-8558781	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	3,360,557	1,371,447		No			No	79.840 %
(164) NEWINGTON LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-0763113	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	724,724	1,354,603		No			No	79.840 %
(165) ROSELAND PROPERTY PARTNERS LP C/O YALE UNIVERSITY PO BOX 208240 NEW HAVEN,CT065208239 22-3283867	INVESTMENT	NJ	YALE UNIVERSITY	UNRELATED	-907	896,425		No	-907		No	60.000 %
(166) CRANBROOK LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-3115503	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	-338,565	614,075		No			No	79.840 %
(167) LUXIVER NAWAB LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 45-3117734	INVESTMENT	DE	YALE UNIVERSITY	EXCLUDED FROM TAX	-473,138	597,285		No			No	100.000 %
(168) CORBIN VI LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 27-0773197	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	7,871,938	540,071		No			No	79.840 %
(169) 100 HOWE STREET ASSOCIATES LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-1386762	INVESTMENT	CT	YALE UNIVERSITY	EXCLUDED FROM TAX	190,088	445,149	Yes				No	97.080 %
(170) 4620 ASSOCIATES LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 13-4036667	INVESTMENT	DE	YALE UNIVERSITY	EXCLUDED FROM TAX	109,525	299,442		No			No	83.990 %
(171) WELBORN LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-1212127	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	227,844	280,397		No			No	79.840 %
(172) HARBOR HILLS UTILITIES LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 16-1453800	INVESTMENT	DE	HARBOR HILLS HOLDINGS LP	UNRELATED	-15,264	211,916		No	-15,264		No	54.450 %
(173) 94 HOWE STREET ASSOCIATES LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-1428914	INVESTMENT	CT	YALE UNIVERSITY	EXCLUDED FROM TAX	50,105	145,532	Yes				No	91.930 %
(174) KILIMANJARO FUND LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 98-1288980	INVESTMENT	CJ	YALE UNIVERSITY	EXCLUDED FROM TAX	610	126,724	Yes				No	79.790 %
(175) STARFAR I PARTNERS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 94-3205101	INVESTMENT	DE	YALE UNIVERSITY	UNRELATED	-9,511	61,529		No	-9,511		No	60.830 %
(176) SANGAMORE LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-0357077	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	599,226	52,828	Yes		-7,839		No	79.840 %
(177) YANKEE FOREST LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 04-3384575	INVESTMENT	NH	YALE UNIVERSITY	EXCLUDED FROM TAX	257,423		Yes				No	99.000 %
(178) UPTON LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-5778792	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	-16,519,029			No			No	79.840 %
(179) IVP V CO-INVESTMENT HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-2707519	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	44,576	-441,185		No			No	99.600 %
(180) SANGAMORE II LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-2672293	INVESTMENT	DE	FOURTH CENTURY LLC	EXCLUDED FROM TAX	6,839,236	-1,775,271	Yes		170,494		No	79.840 %
(181) OM HOLDINGS LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-5073267	INVESTMENT	NV	FIFTH CENTURY LP	EXCLUDED FROM TAX	-2,714,964	-3,190,601		No			No	99.600 %
(182) HARBOR HILLS COUNTRY CLUB LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 16-1453797	INVESTMENT	DE	HARBOR HILLS HOLDINGS LP	UNRELATED	-487,710	-3,819,340		No	-487,710		No	54.450 %

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) NEW FYI LTD C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239	INVESTMENT	CJ	YALE UNIVERSITY	C	314,187,220	1,372,752,308	100.000 %	Yes
(2) CRS FUND LTD C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 90-0314487	INVESTMENT	CJ	CYR HOLDINGS LP	C	-15,155,615	415,412,140	99.600 %	Yes
(3) GAOLING YALI FEEDER LTD C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239	INVESTMENT	CJ	FOURTH CENTURY LLC	C	101,047,466	414,088,873	99.800 %	Yes
(4) LTR FOCUS FUND C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239	INVESTMENT	MP	YALE UNIVERSITY	C	11,779,767	342,801,365	100.000 %	Yes
(5) THE CAERULEUS FUND C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239	INVESTMENT	CJ	YALE UNIVERSITY	C	58,558,009	337,523,860	100.000 %	Yes
(6) PWEB LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 27-3304430	INVESTMENT	DE	FOURTH CENTURY LLC	C	-1,014,255	142,389,203	99.800 %	Yes
(7) FOURTH CENTURY TRUST C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 20-6699631	INVESTMENT	CT	YALE UNIVERSITY	T	1,794,558	98,617,124	100.000 %	Yes
(8) YB CAYMAN LTD C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239	INVESTMENT	CJ	YB INSTITUTIONAL LP	C	5,107,779	39,796,983	98.800 %	Yes
(9) 3285500 NOVA SCOTIA LIMITED C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239	INVESTMENT	CA	OM HOLDINGS LP	C	2,856,386	31,239,934	98.600 %	Yes
(10) LP VALUE LTD C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239	INVESTMENT	VQ	YALE UNIVERSITY	C	10,313	26,464,864	95.170 %	Yes
(11) NW UK REGIONAL II (NO1) LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 98-1208249	INVESTMENT	UK	FOURTH CENTURY LLC	C	3,714,940	17,160,219	99.800 %	Yes
(12) ARMINIUS REAL ESTATE OPPORTUNITY FEEDER FUND II LP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239	INVESTMENT	UK	FOURTH CENTURY LLC	C	588,131	14,328,936	90.730 %	Yes
(13) NCH INVESTORS FUND (YU) CORP C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239	INVESTMENT	CJ	FOURTH CENTURY LLC	C	788,938	13,164,528	99.800 %	Yes
(14) CONNECTICUT BOOLA INC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-0798544	INVESTMENT	CT	YALE UNIVERSITY	C	3,915,959	12,801,801	100.000 %	Yes
(15) MANASLU PARTNERS LTD C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239	INVESTMENT	CJ	MP-MF HOLDINGS LP	C	5,180,923	7,149,134	99.600 %	Yes
(16) FWEB LLC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 27-3304506	INVESTMENT	DE	FOURTH CENTURY LLC	C	105	3,516,097	99.800 %	Yes
(17) 2089841 ONTARIO LIMITED C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239	INVESTMENT	CA	FIFTH CENTURY LP	C	4,308	2,497,476	98.800 %	Yes
(18) HARBOR HILLS COUNTRY CLUB INC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 16-1452585	INVESTMENT	DE	HARBOR HILLS HOLDINGS LP	C	2,910	28,865	55.000 %	Yes
(19) HARBOR HILLS SALES INC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 59-3343340	INVESTMENT	FL	HARBOR HILLS HOLDINGS LP	C		550	55.000 %	Yes
(20) YALE UNIVERSITY HONG KONG TRUST C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239	ACCEPTS CHARITABLE CONTRIBUTIONS	HK	YALE UNIVERSITY	T	539,823		100.000 %	Yes
(21) DRAMA PRODUCTIONS INC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-0851103	PERFORMING ARTS	CT	YALE UNIVERSITY	C			100.000 %	Yes
(22) YORK STREET ASSOCIATES INC C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239 06-1174464	INACTIVE	CT	YALE UNIVERSITY	C			100.000 %	Yes
(23) CHARITABLE POOLED INCOME FUNDS (3) C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239	INVESTMENT	CT	VARIOUS	T					No
(24) CHARITABLE REMAINDER TRUSTS (40) C/O YALE UNIVERSITY PO BOX 208239 NEW HAVEN,CT065208239	INVESTMENT	CT	YALE UNIVERSITY	T					No

Schedule R (Form 990) 2015

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

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

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

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

Yes

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
(1) 100 HOWE STREET ASSOCIATES LLC	S	159,630
(2) 3C CORPORATION	S	3,356,680
(3) 3C CORPORATION	B	3,919,372
(4) 4620 ASSOCIATES LLC	S	102,030
(5) 5C CORPORATION	B	1,332,504
(6) 5C CORPORATION	S	3,811,211
(7) 94 HOWE STREET ASSOCIATES LLC	S	60,537
(8) BLUEBART LP	B	200,000,000
(9) CHARLES A COFFIN MEMORIAL FUND	S	300,000
(10) CONNECTICUT BOOLA INC	B	700,000
(11) DRAMA PRODUCTIONS INC	P	799,654
(12) FARALLON CAPITAL INSTITUTIONAL PARTNERS 25 LP	S	523,534
(13) FARALLON CAPITAL INSTITUTIONAL PARTNERS 25 LP	B	842,771
(14) FARALLON CAPITAL INSTITUTIONAL PARTNERS II LP	S	10,325,348
(15) FARALLON CAPITAL INSTITUTIONAL PARTNERS II LP	B	51,223,534
(16) FIFTH CENTURY LP	B	327,103,163
(17) FIFTH CENTURY LP	S	1,032,261,865
(18) FOURTH CENTURY LLC	B	1,955,766,807
(19) FOURTH CENTURY LLC	S	1,483,851,202
(20) FOXWAY LP	B	10,000,000
(21) HARBOR HILLS HOLDINGS LP	B	400,000
(22) JONATHAN EDWARDS TRUST	S	97,000
(23) LTR FOCUS FUND	B	138,000,000
(24) LUXIVER LP	B	115,000,000
(25) LUXIVER NAWAB LP	S	4,925,111
(26) MOTUS FUND LTD	B	40,000,000
(27) NEW FYI LTD	B	25,000,000
(28) NEW FYI LTD	S	150,000,000
(29) PAUL MELLON CENTRE FOR STUDIES IN BRITISH ART	B	5,533,774
(30) STOECKEL E B RESIDUE TRUST	S	330,000
(31) STRATEGIC RESIDENTIAL FUND I LLC	S	7,525,108
(32) STRATEGIC RESIDENTIAL FUND II LLC	S	570,000
(33) THE BOARD OF TRUSTEES OF THE SHEFFIELD SCIENTIFIC SCHOOL	S	18,658,605
(34) THE CHIEF EXECUTIVE LEADERSHIP INSTITUTE OF THE YALE SCHOOL OF MGMT INC	S	467,291
(35) YALE UNIVERSITY ELIZABETHAN CLUB CORP	R	586,989
(36) YALE UNIVERSITY HONG KONG TRUST	C	539,823
(37) YALE UNIVERSITY PRESS LONDON	L	1,150,213
(38) YALE UNIVERSITY PRESS LONDON	M	1,197,084
(39) YALE UNIVERSITY RETIREE HEALTH BENEFITS COVERAGE TRUST	Q	24,655,924

Schedule R (Form 990) 2015

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) 2015

Page 5

Part VII

Supplemental Information

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

Return Reference

Explanation

SCHEDULE R, PART I-V:

NAME, ADDRESS AND EIN: THE FORM 990, SCHEDULE R, LISTS THE NAME OF EACH ENTITY AS OF THE DATE OF THE FORM 990 FILING. SCHEDULE R, PART III: GENERAL NOTE: DISPROPORTIONATE ALLOCATIONS INDICATED IN COLUMN (H) OF PART III GENERALLY RELATE TO I.) A GENERAL PARTNER'S TYPICAL CARRIED INTEREST WITH RESPECT TO PRIVATE FUND INVESTMENTS OR II.) ALLOCATIONS AMONG 501(C)(3) ORGANIZATIONS THAT ARE PARTNERS OR MEMBERS IN AN INVESTMENT ENTITY. SCHEDULE R, PART IV: AS OF JUNE 30, 2016, YALE UNIVERSITY HELD MORE THAN 50% OF THE BENEFICIAL INTERESTS IN 40 CHARITABLE REMAINDER TRUSTS OF WHICH 37 WERE DOMICILED IN CONNECTICUT AND THE REMAINDER WERE DOMICILED IN CALIFORNIA, PENNSYLVANIA, AND MASSACHUSETTS. SCHEDULE R, PART V: GENERAL NOTE: THIS SCHEDULE REFLECTS ALL TRANSFERS BY YALE UNIVERSITY TO CORPORATIONS, PARTNERSHIPS, OR OTHER ENTITIES CONTROLLED BY YALE AS DEFINED IN IRC SECTION 512(B)(13) AND RELATED TAX-EXEMPT ORGANIZATIONS NOT DESCRIBED IN IRC SECTION 501(C)(3). IN SOME INSTANCES, THESE ENTITIES MADE FURTHER TRANSFERS TO OTHER ENTITIES CONTROLLED BY THEM OR YALE UNIVERSITY. IN ADDITION, THIS SCHEDULE REFLECTS ALL TRANSFERS TO YALE UNIVERSITY BY CORPORATIONS, PARTNERSHIPS, OR OTHER ENTITIES CONTROLLED BY YALE AS DEFINED IN IRC SECTION 512(B)(13) AND RELATED TAX-EXEMPT ORGANIZATIONS NOT DESCRIBED IN IRC SECTION 501(C)(3). IN SOME INSTANCES, THESE ENTITIES RECEIVED TRANSFERS FROM OTHER ENTITIES CONTROLLED BY THEM OR YALE UNIVERSITY.

Schedule R (Form 990) 2015

Additional Data

Software ID:
Software Version:

1	Briefly describe the organization’s mission or most significant activities: TO IMPROVE THE WORLD THROUGH RESEARCH, SCHOLARSHIP, EDUCATION, PRESERVATION, AND PRACTICE
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	19
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	17
5	Total number of individuals employed in calendar year 2015 (Part V, line 2a) ......	5	28,739
6	Total number of volunteers (estimate if necessary) .............	6	8,300
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	-50,314,296
b	Net unrelated business taxable income from Form 990-T, line 34 .........	7b	-33,135,839

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	910,761,374	963,188,552
9	Program service revenue (Part VIII, line 2g) .........	1,614,941,369	1,713,524,959
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	2,862,573,168	2,066,923,157
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	73,396,614	64,361,062
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	5,461,672,525	4,807,997,730
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	414,401,358	436,769,273
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)	2,043,522,950	2,150,120,155
16a	Professional fundraising fees (Part IX, column (A), line 11e) .....	0	0
b	Total fundraising expenses (Part IX, column (D), line 25) 45,359,174
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	1,055,874,554	1,094,719,066
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	3,513,798,862	3,681,608,494
19	Revenue less expenses. Subtract line 18 from line 12.......	1,947,873,663	1,126,389,236
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	34,133,509,535	34,103,002,387
21	Total liabilities (Part X, line 26).............	7,451,141,173	8,312,039,229
22	Net assets or fund balances. Subtract line 21 from line 20.....	26,682,368,362	25,790,963,158

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ 1,685,111,478 including grants of $ 3,571,701 ) (Revenue $ 1,451,465,541 )
	INSTRUCTION: THE PROGRAM SERVICE COSTS INCLUDE SALARIES, FRINGE BENEFITS AND SUPPLIES OF TEACHING APPROXIMATELY 12,400 STUDENTS INCLUDING 5,505 UNDERGRADUATES, 2,858 GRADUATE STUDENTS AND 3,995 PROFESSIONAL SCHOOL STUDENTS. A FACULTY OF MORE THAN 4,400 TEACH AND ADMINISTER PROGRAMS ACROSS A RANGE OF DISCIPLINES IN THE SCIENCES AND ENGINEERING, THE SOCIAL SCIENCES, THE HUMANITIES, AND THE VARIOUS LEARNED PROFESSIONS. MORE THAN 80 MAJORS ARE AVAILABLE IN THE UNDERGRADUATE COLLEGE AND MORE THAN 35 DIFFERENT DEGREE PROGRAMS ARE OFFERED BY THE UNIVERSITY. - CONTINUED ON SCHEDULE O.

4b	(Code: ) (Expenses $ 528,106,000 including grants of $ 56,031,994 ) (Revenue $ 85,764,223 )
	RESEARCH: THE UNIVERSITY ENGAGES IN EXTENSIVE RESEARCH IN MEDICINE, THE PHYSICAL SCIENCES, THE SOCIAL SCIENCES AND HUMANITIES. THE UNIVERSITY'S RESEARCH ACTIVITIES ARE AIMED AT THE ADVANCEMENT OF KNOWLEDGE AS WELL AS TRAINING STUDENTS IN THE RESEARCH PROCESS. YALE'S RESEARCHERS' INNOVATIONS AND GROUNDBREAKING MEDICAL AND SCIENTIFIC DISCOVERIES ARE EXPANDING HUMAN KNOWLEDGE AND HELPING TO IMPROVE THE HUMAN CONDITION. INCLUDED AMONG THE UNIVERSITY'S OUTSTANDING RESEARCH FACILITIES ARE LABORATORIES AND OTHER FACILITIES DEVOTED TO RESEARCH IN GEOLOGY, CHEMISTRY, BIOLOGY, ENGINEERING AND APPLIED SCIENCE, ANTHROPOLOGY, PALEONTOLOGY, PSYCHOLOGY, MOLECULAR AND STRUCTURAL BIOLOGY, NUCLEAR STRUCTURE, CHILD DEVELOPMENT, SOCIAL POLICY, BIOSPHERIC STUDIES AND NUMEROUS BIOMEDICAL SCIENCES, TO NAME BUT A FEW.

4c	(Code: ) (Expenses $ 696,599,949 including grants of $ 373,711,245 ) (Revenue $ 79,560,210 )
	STUDENT FINANCIAL AID AND SERVICES: YALE COLLEGE ADMITS STUDENTS FOR THEIR ACADEMIC AND PERSONAL PROMISE WITHOUT REGARD TO THEIR ABILITY TO PAY. YALE IS COMMITTED TO A NEED-BLIND ADMISSIONS POLICY AND MEETS 100% OF DEMONSTRATED NEED FOR ALL STUDENTS REGARDLESS OF CITIZENSHIP. BY COMMITTING TO AN ADMISSIONS POLICY THAT DOES NOT CONSIDER A STUDENT'S ABILITY TO PAY, AND BY MEETING THE FULL FINANCIAL NEED OF ALL ADMITTED STUDENTS (WITH NO LOANS REQUIRED), YALE ENSURES THAT IT IS ACCESSIBLE TO THE MOST TALENTED STUDENTS FROM AROUND THE WORLD, REGARDLESS OF THEIR FAMILY'S INCOME. WITH THIS POLICY, YALE STRIVES TO CREATE A LEARNING ENVIRONMENT THAT INCORPORATES THE WIDEST POSSIBLE RANGE OF STUDENT BACKGROUNDS. - CONTINUED ON SCHEDULE O.

	(Code: ) (Expenses $ 401,180,737 including grants of $ 3,454,333 ) (Revenue $ 117,420,269 )


4d	Other program services (Describe in Schedule O.)
	(Expenses $ 401,180,737 including grants of $ 3,454,333 ) (Revenue $ 117,420,269 )
4e	Total program service expenses3,310,998,164

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)...........	21,021,009	0	2,606,178

1a	Federated campaigns..		1a	556,168
b	Membership dues..		1b
c	Fundraising events..		1c	401,547
d	Related organizations		1d	539,823
e	Government grants (contributions)		1e	448,503,951

f	All other contributions, gifts, grants, and similar amounts not included above		1f	513,187,063

g	Noncash contributions included in lines 1a-1f:$ 101,423,736
h Total.Add lines 1a-1f.......		963,188,552

		Business Code
2a	MEDICAL SERVICE INCOME	541900	823,132,271	821,381,972	1,750,299
b	STUDENT INCOME	611310	603,894,043	603,894,043
c	CONTRACT INCOME-GOV'T	541700	120,117,897	120,117,897
d	CONTRACT INC-NON-GOV'T	541700	71,396,062	71,396,062
e	PUBLICATIONS INCOME	511130	19,960,823	19,877,095	83,728
f	All other program service revenue.			75,023,863	72,889,907	2,133,956
g Total.Add lines 2a–2f.....			1,713,524,959

3 Investment income (including dividends, interest, and othersimilar amounts) ..........			583,698,035		-31,821,972	615,520,007
4 Income from investment of tax-exempt bond proceeds			53,671			53,671
5 Royalties...........			7,292,715			7,292,715
		(ii) Personal	(i) Real
6a	Gross rents		16,647,993
b	Less: rental expenses		12,778,628
c	Rental income or (loss)		3,869,365
d	Net rental income or (loss)......			3,869,365			3,869,365
		(ii) Other	(i) Securities
7a	Gross amount from sales of assets other than inventory	3,259,357,651	3,046,434,965
b	Less: cost or other basis and sales expenses	1,813,327,882	3,009,293,283
c	Gain or (loss)	1,446,029,769	37,141,682
d	Net gain or (loss).....			1,483,171,451		-23,832,412	1,507,003,863
8a	Gross income from fundraising events (not including $ 401,547of contributions reported on line 1c). See Part IV, line 18 ....
	a		328,034
b	Less: direct expenses ...b		293,203
c	Net income or (loss) from fundraising events..			34,831			34,831
9a	Gross income from gaming activities. See Part IV, line 19 ...
	a		13,818
b	Less: direct expenses ...b		4,781
c	Net income or (loss) from gaming activities..			9,037			9,037
10a	Gross sales of inventory, less returns and allowances ..
	a
b	Less: cost of goods sold ..b
c	Net income or (loss) from sales of inventory..
Business Code			Miscellaneous Revenue
11a	EDUCATIONAL SUPPORT		611710	24,653,267	24,653,267
b	PARKING		812930	13,765,942		1,340,795	12,425,147
c	UTILITIES		221000	11,034,271			11,034,271
d	All other revenue ....			3,701,634		31,310	3,670,324
e	Total. Add lines 11a–11d ......			53,155,114
12	Total revenue. See Instructions......			4,807,997,730	1,734,210,243	-50,314,296	2,160,913,231

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21	50,872,812	50,872,812
2	Grants and other assistance to individuals in the United States. See Part IV, line 22	370,037,562	370,037,562
3	Grants and other assistance to governments, organizations, and individuals outside the United States. See Part IV, lines 15 and 16	15,858,899	15,858,899
4	Benefits paid to or for members
5	Compensation of current officers, directors, trustees, and key employees ....	17,501,244	1,382,916	15,558,693	559,635
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ....	17,738,375	13,507,818	3,994,749	235,808
7	Other salaries and wages	1,567,953,193	1,441,801,706	104,889,067	21,262,420
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	146,718,857	133,415,185	10,866,140	2,437,532
9	Other employee benefits .......	307,183,481	272,857,849	30,391,120	3,934,512
10	Payroll taxes ...........	93,025,005	84,208,567	7,250,232	1,566,206
11	Fees for services (non-employees):
a	Management ......
b	Legal .........	4,773,341	1,201,012	3,572,329
c	Accounting ...........	2,777,382	143,436	2,633,946
d	Lobbying ...........	97,855		97,855
e	Professional fundraising services. See Part IV, line 17
f	Investment management fees ......	54,795,302		54,795,302
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)	124,019,280	105,701,805	16,986,670	1,330,805
12	Advertising and promotion ....	2,877,218	2,638,282	135,320	103,616
13	Office expenses .......	23,518,012	15,745,460	6,715,551	1,057,001
14	Information technology ......	47,750,180	34,401,318	12,663,401	685,461
15	Royalties ..	53,530	53,530
16	Occupancy ...........	85,602,464	82,201,108	1,197,849	2,203,507
17	Travel ............	54,429,593	49,820,959	3,492,499	1,116,135
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .	19,322	19,322
19	Conferences, conventions, and meetings ....	5,613,858	5,212,458	337,100	64,300
20	Interest ...........	74,094,956	72,329,072	1,425,481	340,403
21	Payments to affiliates .......
22	Depreciation, depletion, and amortization ..	257,433,806	238,352,959	15,402,702	3,678,145
23	Insurance ...	25,027,051	23,225,103	1,801,948
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	SUPPLIES-MED & RESEARCH	77,743,495	77,385,852	357,643	0
b	BOOKS, PERIODICALS, ETC	52,560,065	52,419,393	24,764	115,908
c	SUPPLIES-OTHER	39,861,439	38,346,053	1,295,038	220,348
d	BUSINESS MEALS & ENTERT	17,080,413	14,904,571	929,402	1,246,440
e	All other expenses	144,590,504	112,953,157	28,436,355	3,200,992
25	Total functional expenses. Add lines 1 through 24e	3,681,608,494	3,310,998,164	325,251,156	45,359,174
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).

1	Cash–non-interest-bearing ........			30,865,353	1	11,211,079
2	Savings and temporary cash investments .........			255,243,298	2	177,345,169
3	Pledges and grants receivable, net ......			565,538,631	3	637,707,592
4	Accounts receivable, net .............			140,790,800	4	153,974,575
5	Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of Schedule L
				189,572	5	80,847
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
					6	0
7	Notes and loans receivable, net ....			151,925,997	7	148,558,027
8	Inventories for sale or use ........			12,574,686	8	13,761,268
9	Prepaid expenses and deferred charges ......			26,206,118	9	21,350,456
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	7,180,229,653
b	Less: accumulated depreciation	10b	2,473,379,541	4,432,977,342	10c	4,706,850,112
11	Investments—publicly traded securities .			5,481,272,090	11	4,747,807,531
12	Investments—other securities. See Part IV, line 11 .....			22,529,019,061	12	23,064,622,983
13	Investments—program-related. See Part IV, line 11 ..			32,285,358	13	37,638,709
14	Intangible assets ...............				14	0
15	Other assets. See Part IV, line 11 ...........			474,621,229	15	382,094,039
16	Total assets. Add lines 1 through 15 (must equal line 34)...			34,133,509,535	16	34,103,002,387

17	Accounts payable and accrued expenses .....	352,016,560	17	395,545,476
18	Grants payable ...	5,235,344	18	6,600,625
19	Deferred revenue .........	99,911,513	19	120,628,128
20	Tax-exempt bond liabilities .........	2,897,175,687	20	2,877,350,520
21	Escrow or custodial account liability. Complete Part IV of Schedule D	2,020,683	21	2,723,219
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..		22	0
23	Secured mortgages and notes payable to unrelated third parties ..		23	0
24	Unsecured notes and loans payable to unrelated third parties ..	558,161,864	24	557,797,088
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	3,536,619,522	25	4,351,394,173
26	Total liabilities. Add lines 17 through 25..	7,451,141,173	26	8,312,039,229

	Organizations that follow SFAS 117 (ASC 958), check here and complete lines 27 through 29, and lines 33 and 34.
27	Unrestricted net assets	4,280,801,593	27	3,446,697,446
28	Temporarily restricted net assets ...........	18,921,626,384	28	18,685,880,925
29	Permanently restricted net assets	3,479,940,385	29	3,658,384,787
	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 ...........	26,682,368,362	33	25,790,963,158
34	Total liabilities and net assets/fund balances ........	34,133,509,535	34	34,103,002,387

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 separately 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). . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	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 separately file Form 5713, International Boycott Report (see Instructions for Form 5713).. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	Yes	No