TY 2019 Form 990

- 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.
SchDMd Bullet

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2019

Open to Public Inspection

Name of the organization

THE STANFORD UNIVERSITY TRUST FOR POST RETIREMENT
AND POST EMPLOYMENT BENEFITS

Employer identification number

94-3246199

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 .........
2	Aggregate value of contributions to (during year)
3	Aggregate value of grants from (during year)
4	Aggregate value at end of year ........

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 7/25/06, 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 FASB 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 FASB 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 FASB 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) 2019

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 ....
b	Contributions ...
c	Net investment earnings, gains, and losses
d	Grants or scholarships ...
e	Other expenditures for facilities and programs ...
f	Administrative expenses ....
g	End of year balance ......

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

Board designated or quasi-endowment SchDMd Bullet

Permanent endowment SchDMd Bullet

Term endowment SchDMd Bullet

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 .....
b	Buildings ....
c	Leasehold improvements
d	Equipment ....
e	Other .....
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..

Schedule D (Form 990) 2019

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
(B)
(C)
(D)
(E)
(F)
(G)
(H)
(I)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)

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

(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
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

(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
(10)
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	0

(2)
(3)
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)	0
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) 2019

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	71,047,013
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a	32,611,452
b	Donated services and use of facilities .........	2b	0
c	Recoveries of prior year grants ...........	2c	0
d	Other (Describe in Part XIII.) ............	2d	0
e	Add lines 2a through 2d .....................			2e	32,611,452
3	Subtract line 2e from line 1..................			3	38,435,561
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	0
b	Other (Describe in Part XIII.) ...........	4b	0
c	Add lines 4a and 4b....................			4c	0
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......			5	38,435,561

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	35,995,879
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities .........	2a	0
b	Prior year adjustments ............	2b	0
c	Other losses ................	2c	0
d	Other (Describe in Part XIII.) ............	2d	0
e	Add lines 2a through 2d....................			2e	0
3	Subtract line 2e from line 1...................			3	35,995,879
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	0
b	Other (Describe in Part XIII.) ............	4b	0
c	Add lines 4a and 4b.....................			4c	0
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......			5	35,995,879

Part XIII

Supplemental Information

Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.

Return Reference	Explanation
Schedule D, Part X, Line 2	U.S. GAAP REQUIRES THE PLAN SPONSOR TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE PLAN HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. NO UNCERTAIN POSITIONS HAVE BEEN IDENTIFIED THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS AS OF AUGUST 31, 2020 AND 2019.

Return Reference

Explanation

Schedule D, Part X, Line 2

U.S. GAAP REQUIRES THE PLAN SPONSOR TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE PLAN HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. NO UNCERTAIN POSITIONS HAVE BEEN IDENTIFIED THAT WOULD REQUIRE RECOGNITION OF A LIABILITY (OR ASSET) OR DISCLOSURE IN THE FINANCIAL STATEMENTS AS OF AUGUST 31, 2020 AND 2019.

Schedule D (Form 990) 2019

Additional Data

Software ID:	19009572
Software Version:	v1.00

- 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

Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2019

Open to Public
Inspection

Name of the organization

THE STANFORD UNIVERSITY TRUST FOR POST RETIREMENT
AND POST EMPLOYMENT BENEFITS

Employer identification number

94-3246199

Return Reference	Explanation
Form 990, Part VI, Section A, Line 7a	.
Form 990, Part VI, Section A, Line 7b	.
Form 990, Part VI, Section A, Line 8b	AS THE TRUST'S GOVERNING BODY CONSISTS OF 1 TRUSTEE, GOVERNANCE MATTERS ARE ADDRESSED BY THE FULL GOVERNING BODY RATHER THAN BY COMMITTEE. THE FULL GOVERNING BODY ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE TRUST'S FINANCIAL STATEMENTS AND FOR SELECTION OF AN INDEPENDENT ACCOUNTANT.
Form 990, Part VI, Section B, Line 11b	EACH YEAR, STANFORD UNIVERSITY TRUST FOR POST RETIREMENT AND POST EMPLOYMENT BENEFITS ("THE TRUST") HAS ITS FINANCIAL STATEMENTS AUDITED BY THE INDEPENDENT ACCOUNTING FIRM OF MOSS-ADAMS, LLP. DATA FOR THE 990 IS EXTRACTED FROM THE AUDITED FINANCIAL STATEMENTS. THE RETURN IS THEN PREPARED BY PROFESSIONALS IN THE STANFORD TAX DEPARTMENT. THE TRUSTEE IS PROVIDED WITH A COPY OF THE 990. THE FINAL VERSION IS THEN SIGNED BY STANFORD UNIVERSITY'S SENIOR DIRECTOR, FINANCIAL COMPLIANCE & OPERATIONS.
Form 990, Part VI, Section B, Line 12a	THE TRUST WAS CREATED BY STANFORD UNIVERSITY TO HOLD ASSETS NECESSARY TO FUND FUTURE MEDICAL BENEFIT PAYMENTS FOR STANFORD RETIREES AND THEIR ELIGIBLE DEPENDENTS. THE TRUST ALSO FUNDS FUTURE BENEFITS FOR TERMINATED EMPLOYEES WHO HAD BEEN RECEIVING LONG-TERM DISABILITY BENEFITS BEFORE THEIR TERMINATION. ACCORDINGLY, THE TRUST CONDUCTS ITS BUSINESS IN ACCORDANCE WITH ALL POLICIES OF STANFORD UNIVERSITY, WHICH INCLUDE WRITTEN POLICIES REGARDING CONFLICT OF INTEREST, "WHISTLEBLOWERS" AND DOCUMENT RETENTION AND DESTRUCTION.
Form 990, Part VI, Section B, Line 12c	STANFORD UNIVERSITY REGULARLY MONITORS THE PERFORMANCE OF THE TRUSTEE AND ASSURES THAT IT IS IN COMPLIANCE WITH ALL ESTABILISHED POLICIES AND PROCEDURES.
Form 990, Part VI, Section C, Line 19	THE TRUST MAKES ITS FORM 990, GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.
Form 990, Part VII, Section A, Line 1a	STANFORD UNIVERSITY HAS APPOINTED VANGUARD FIDUCIARY TRUST AS THE TRUSTEE OF THIS TRUST. VANGUARD ALSO PROVIDES RETIREMENT PLAN SERVICES TO STANFORD UNIVERSITY.
Form 990, Part XII, Line 2c	STANFORD UNIVERSITY PAYS FOR AUDITING, ACTUARIAL AND OTHER ADMINISTRATIVE SERVICES RENDERED TO THE TRUST. RESPONSIBILITY OF OVERSIGHT OF THE AUDIT AND SELECTION OF THE INDEPENDENT ACCOUNTANTS IS DONE BY STANFORD UNIVERSITY.

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

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2019

Additional Data

Software ID:	19009572
Software Version:	v1.00

- 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

Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2019

Open to Public Inspection

Name of the organization

THE STANFORD UNIVERSITY TRUST FOR POST RETIREMENT
AND POST EMPLOYMENT BENEFITS

Employer identification number

94-3246199

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

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)THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY485 BROADWAY STREET MAIL CODE 8838 REDWOOD CITY,CA94063 94-1156365	EDUCATION	CA	501(C)(3)	2	N/A		No
(2)HOSPITAL COMMITTEE FOR THE LP AREAS 1111 E STANLEY BLVD LIVERMORE,CA94550 94-1429628	HOSPITAL	CA	501(C)(3)	3	SHC	Yes
(3)LUCILE PACKARD FOUNDATION FOR CHILDREN'S HOSPITAL 400 HAMILTON AVENUE SUITE 340 PALO ALTO,CA94301 77-0440090	HEALTHCARE	CA	501(C)(3)	7	LPCH	Yes
(4)LUCILE SALTER PACKARD CHILDRENS HOSPITAL 725 WELCH ROAD MAIL CODE 5553 PALO ALTO,CA94304 77-0003859	HEALTHCARE	CA	501(C)(3)	3	STANFORD	Yes
(5)PACIFIC 12 CONFERENCE 1350 TREAT BOULEVARD WALNUT CREEK,CA94597 94-1459048	EDUCATIONAL	CA	501(C)(3)	12A, I	N/A		No
(6)PACKARD CHILDREN'S HEALTH ALLIANCE 725 WELCH ROAD MAIL CODE 5551 PALO ALTO,CA94304 32-0359189	HEALTHCARE	CA	501(C)(3)	3	LPCH	Yes
(7)SHR HOLDINGS INC 485 BROADWAY STREET MAIL CODE 8838 REDWOOD CITY,CA94063 94-3187167	REAL ESTATE	CA	501(C)(25)	N/A	STANFORD	Yes
(8)STANFORD FACULTY CLUB PO BOX 7229 STANFORD,CA94309 94-1187089	FAC INTERACT.	CA	501(C)(7)	N/A	STANFORD	Yes
(9)STANFORD FEDERAL CREDIT UNION 1860 EMBARCADERO RD PALO ALTO,CA94303 94-1492212	CREDIT UNION	CA	501(C)(1)	N/A	STANFORD	Yes
(10)STANFORD HABITAT CONSERVATION BOARD 415 BROADWAY REDWOOD CITY,CA94063 46-1882243	CONSERVATION	CA	501(C)(3)	7	STANFORD	Yes
(11)STANFORD HEALTH CARE 300 PASTEUR DRIVE MAIL CODE 5555 STANFORD,CA94305 94-6174066	HEALTHCARE	CA	501(C)(3)	3	STANFORD	Yes
(12)STANFORD HEALTH CARE ADVANTAGE 1221 BROADWAY 3RD FLOOR OAKLAND,CA94612 46-4071746	HEALTHCARE	CA	501(c)(3)	12A, I	SHC	Yes
(13)STANFORD UNIVERSITY BOOKSTORE BLDG 60 MAIN QUAD NO 105 STANFORD,CA94305 94-0894150	SUPPORT	CA	501(C)(3)	12A, I	STANFORD	Yes
(14)THE DUDLEY E CHAMBERS FOUNDATION JP MORGAN CHASE PO BOX 3038 MILWAUKEE,WI53201 38-6841793	SUPPORT	NY	501(C)(3)	12D, III-O	STANFORD	Yes
(15)UNIVERSITY HEALTHCARE ALLIANCE 7999 GATEWAY BLVD STE 300 NEWARK,CA94560 94-3192446	HEALTHCARE	CA	501(C)(3)	3	SHC	Yes
(16)VALLEYCARE MEDICAL FOUNDATION INC 5655 W LAS POSITAS BLVD PLEASANTON,CA94588 26-2593526	SUPPRT SHC-VC	CA	501(C)(3)	10	HOSP CMTE LP	Yes
(17)VALLEYCARE SENIOR HOUSING 1111 E STANLEY BLVD LIVERMORE,CA94550 94-3382224	SR. FACILITY	CA	501(C)(3)	12A, I	HOSP CMTE LP	Yes
(18)THE FREIDENRICH SUPPORT FOUNDATION 485 BROADWAY ST MAIL CODE 8838 REDWOOD CITY,CA94063 30-0519583	SUPPORT	CA	501(C)(3)	12A, I	STANFORD
(19)THE HONG KONG SU CHARITABLE TRUST 1401 CAROLINE CENTER 28 PING ROAD CAUSEWAY,HONG KONG HK 98-6078093	SUPPORT	HK	501(C)(3)	N/A	STANFORD
(20)THE STANFORD TRUST 65 HIGH STREET OXFORD OX1 46L UK 99-9999999	SUPPORT	UK	501(C)(3)	N/A	STANFORD
(21)JAEDAN BUPIN STANFORD CENTER IN THE REPUBLIC OF KOREA 119 YEONSUMUNHWA RO YEONSU GU KS 99-9999999	RESEARCH	KS	501(C)(3)	N/A	STANFORD

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

Cat. No. 50135Y

Schedule R (Form 990) 2019

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	(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 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) ADOM PARTNERS LP 1350 6TH AVE UNIT 1610 NEW YORK,NY10019 81-3083288	INVESTMENTS	DE	N/A
(2) ALBUS SELECT FUND LP 750 MENLO AVE UNIT 380 MENLO PARK,CA94025 81-2064357	INVESTMENTS	DE	N/A
(3) ARCOLA VENTURE LLC 635 KNIGHT WAY STANFORD,CA94305 37-1689632	RE DEVELOPMENT	DE	N/A
(4) CANARY SC FUND LP 399 PARK AVE NEW YORK,NY10022 47-5662144	INVESTMENTS	DE	N/A
(5) CARLSBAD COINVEST LP 40 BEECHWOOD RD SUMMIT,NJ07901 47-1702425	INVESTMENTS	DE	N/A
(6) CYPRESS MARINA HEIGHTS LLC 635 KNIGHT WAY STANFORD,CA94305 95-4887979	INVESTMENTS	CA	N/A
(7) ERS JV LLC 1670 OLD COUNTRY RD UNIT 227 PLAINVIEW,NY11803 83-4068077	INVESTMENTS	DE	N/A
(8) ERS REIT LLC 1671 OLD COUNTRY RD UNIT 228 PLAINVIEW,NY11803 83-4068725	INVESTMENTS	DE	N/A
(9) ERS INVESTOR LLC 1670 OLD COUNTRY RD UNIT 227 PLAINVIEW,NY11803 83-4068357	INVESTMENTS	DE	N/A
(10) ER PROPERTIES FUND LLC 1670 OLD COUNTRY RD UNIT 227 PLAINVIEW,NY11803 83-4260396	INVESTMENTS	DE	N/A
(11) EZP OPPORTUNITY LP 160 BOVET RD STE 300 SAN MATEO,CA94402 81-4562962	INVESTMENTS	DE	N/A
(12) FOUR CROSSINGS INSTITUTIONAL PARTNERS V LP ONE MARITIME PLAZA UNIT 200 SAN FRANCISCO,CA94111 81-4323705	INVESTMENTS	DE	N/A
(13) FOXLANE LP 550 E WATER ST UNIT 888 CHARLOTTESVILLE,VA22902 81-3314647	INVESTMENTS	DE	N/A
(14) LSF V DHB HOLDINGS LP 2711 N HASKELL AVE UNIT 1700 DALLAS,TX75204 27-2858604	INVESTMENTS	DE	N/A
(15) OUTLAWS CASINO LTD 415 BROADWAY REDWOOD CITY,CA94063 84-1457498	HOLDING COMPANY	CO	N/A
(16) SANDOVAL LP 635 KNIGHT WAY STANFORD,CA94305 37-1873346	INVESTMENTS	DE	N/A
(17) SANDPIPER FUND LP 2000 MCKINNEY AVE STE 2125 DALLAS,TX75201 26-0341626	INVESTMENT	TX	N/A
(18) SAROFIM MULTIFAMILY PARTNERS LP 8115 PRESTON RD UNIT 400 DALLAS,TX75225 20-1929002	RE DEVELOPMENT	TX	N/A
(19) SCP REAL ASSETS FUND A LP 2498 SAND HILL RD MENLO PARK,CA94025 20-3949682	INVESTMENTS	DE	N/A
(20) SEQUOIA MFM OPERATING COMPANY LLC 770 WELCH ROAD LPCH PALO ALTO,CA94304 47-5060529	MFM PROGRAM	CA	N/A
(21) SP SMC PARTNERS LLC PO BOX 5377 NEW YORK,NY10185 47-3103791	INVESTMENTS	DE	N/A
(22) STANFORD EMANUEL RADIATION ONCOLOGY CENTER LLC 825 DELBON AV TURLOCK,CA95382 20-8885091	RADIOLOGY	CA	N/A
(23) STANFORD PET CT LLC 300 PASTEUR DR STANFORD,CA94305 61-1423414	MED DIAGNOST	CA	N/A
(24) STANFORD STARTX FUND LLC 485 BROADWAY REDWOOD CITY,CA94063 46-4297719	INVESTMENTS	DE	N/A
(25) SUMIT HOLDING INTERNATIONAL LLC 1400 PAGE MILL RD PALO ALTO,CA94304 26-3934706	HOLDING COMPANY	DE	N/A
(26) TESSERA IONIC LP PO BOX 194170 SAN FRANCISCO,CA94119 83-0896257	INVESTMENTS	DE	N/A
(27) VEDA INVESTORS FUND LP ONE FAWCETT PL GREENWICH,CT06830 81-1810345	INVESTMENTS	DE	N/A
(28) VERMILION PEAK MASTER FUND 635 KNIGHT WAY STANFORD,CA94305 98-1327671	INVESTMENTS	DE	N/A
(29) WREP III A LP fka Wolff Real Estate Partners IIIA LP 6710 E CAMELBACK RD UNIT 100 SCOTTSDALE,AZ85251 47-4780701	INVESTMENTS	DE	N/A
(30) CANARY SC MASTER FUND LP 89 NEXUS WAY GRAND CAYMAN KY1-9009 CJ 98-1267847	INVESTMENTS	CJ	N/A
(31) DGD INVESTMENT LP 635 KNIGHT WAY STANFORD,CA94305 99-9999999	INVESTMENTS	CJ	N/A
(32) FORTRESS IW COINVESTMENT FUND B LP 1345 AVE OF THE AMERICAS NEW YORK,NY10105 98-0509639	INVESTMENTS	CJ	N/A
(33) HHBG-II INVESTMENT LP 89 NEXUS WAY GRAND CAYMAN KY1-9009 CJ 99-9999999	INVESTMENTS	CJ	N/A
(34) KEB INVESTORS II LP 7 REID ST WASHINGTON MALL HAMILTON HM11 BD 99-9999999	INVESTMENTS	BD	N/A
(35) OLIFANT FUND LTD 635 KNIGHT WAY STANFORD,CA94305 98-0404442	INVESTMENTS	CJ	N/A
(36) PALO ALTO LP 13 CASTLE STREET ST HELIER JE 98-1126622	INVESTMENTS	JE	N/A
(37) WINTER ROCK ALTERNATIVE CREDIT MASTER LP PO BOX 10008 WILLOW HOUSE GRAND CAYMAN KY1-1001 CJ 94-1141686	INVESTMENTS	CJ

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	(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) BREP VII AlBERTA FDR OFFSHORE TE 7 LP 635 KNIGHT WAY STANFORD,CA94305 98-1066351	INVESTMENTS	CA	N/A	C
(2) BREP VII AlBERTA FDR OFFSHORE TE 7 NQ LP 635 KNIGHT WAY STANFORD,CA94305 98-1066355	INVESTMENTS	CA	N/A	C
(3) CANARY SC FUND LTD VARIOUS STANFORD,CA94305 98-1268195	INVESTMENTS	CJ	N/A	C
(4) CLAT 15 VARIOUS STANFORD,CA94305 99-9999999	CHARITABLE TR	CA	N/A	T
(5) CLUT 2 VARIOUS STANFORD,CA94305 99-9999999	CHARITABLE TR	CA	N/A	T
(6) CRT 555 VARIOUS STANFORD,CA94305 99-9999999	CHARITABLE TR	CA	N/A	T
(7) EAST SAIL INTERNATIONAL FS INC IFS COURT CQ 99-9999999	INVESTMENTS	CQ	N/A	C
(8) GAVEA INVESTMENT FUND II C LP PO BOX 896GT HARBOUR CENTRE CJ 98-0537952	INVESTMENTS	CJ	N/A	C
(9) HHBG SF Limited 635 KNIGHT WAY STANFORD,CA94305 99-9999999	REAL ESTATE	CJ	N/A	C
(10) KAIZEN FUND VARIOUS STANFORD,CA94306 99-9999999	INVESTMENTS	CJ	N/A	C
(11) LS ALBERTA III LP 1650 TYSON BLVD MCLEAN,VA22102 98-0493425	INVESTMENTS	CA	N/A	C
(12) OTHER 5 VARIOUS STANFORD,CA94306 99-9999999	CHARITABLE TR	CA	N/A	T
(13) PIF 2 VARIOUS STANFORD,CA94306 99-9999999	CHARITABLE TR	CA	N/A	T
(14) PEPPERTREE CAPITAL CAYMAN ISLAND FUND LP 86W ST CHAGRIN FALLS,OH44022 98-1235268	INVESTMENTS	CJ	N/A	C
(15) PROFESSIONAL EXCHANGE ASSURANCE COMPANY 201 MERCHANT ST HONOLULU,HI96813 90-0897686	INSURANCE	HI	N/A	C
(16) SBFF LTD PO BOX 1344 CJ 99-9999999	INVESTMENTS	CJ	N/A	C
(17) STANFORD BEIJING CNSLTNG CO LTD WFOE ACADEMY SOUTH RD UNIT 527 BEIJING,BEIJING CH 99-9999999	EDUCATION	CH	N/A	C
(18) STANFORD IN JAPAN GODO KAISHA DOSHISHA UNIVERSITY MEITOKUKAN NAI KAMIGYO KU JA 99-9999999	EDUCATION	JA	N/A	C
(19) STANFORD INDIA PVT LTD 6 NEHRU PLACE ROOM 333 NEW DELHI,SOUTH DELHI IN 99-9999999	EDUCATION	IN	N/A	C
(20) STANFORD INTL MEDICAL SERVICES RAK FZE PO BOX 56500 AE 99-9999999	PATIENT SRVC	AE	N/A	C
(21) STANFORD MEDICINE INTL HONG KONG CO LT 833 CHEUNG SHA WAN ROAD KOWLOON,HONG KONG HK 99-9999999	PATIENT SRVC	HK	N/A	C
(22) STANFORD SG GS EUROPE INC S CHURCH ST PO BOX 309GT GEORGE TOWN CJ 13-1684331	INVESTMENTS	CJ	N/A	C
(23) STANFORD UNIV MED NETWORK RISK AUTHORITY 1400 PAGE MILL RD PALO ALTO,CA94304 46-1132002	RISK MGMT CON	CA	N/A	C
(24) THE RUBRUM FUND PO BOX 309 UGLAND HOUSE CJ 99-9999999	INVESTMENTS	CJ	N/A	C
(25) TVC MATSU FUND 635 KNIGHT WAY STANFORD,CA94305 99-9999999	INVESTMENTS	CJ	N/A	C
(26) VERMILION PEAK FUND 635 KNIGHT WAY STANFORD,CA94305 98-1333885	INVESTMENTS	CJ	N/A	C
(27) WINTER ROCK ALTERNATIVE CREDIT I LP PO BOX 10008 WILLOW HOUSE GRAND CAYMAN KY1-1001 CJ 98-1140761	INVESTMENTS	CJ	N/A	C
(28) WOODBOURNE CANADA PARTNERS II CAYMAN LP 190 ELGIN AVE GRAND CAYMAN KY1-9005 CJ 98-0705321	INVESTMENTS	CJ	N/A	C

Schedule R (Form 990) 2019

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

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

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

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

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

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

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

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

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

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

If the answer to any of the above is "Yes," see the instructions for information on who must complete this line, including covered relationships and transaction thresholds.

(a) Name of related organization	(b) Transaction type (a-s)	(c) Amount involved	(d) Method of determining amount involved

Schedule R (Form 990) 2019

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) 2019

Page 5

Part VII

Supplemental Information

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

Return Reference	Explanation

Schedule R (Form 990) 2019

Additional Data

Software ID:	19009572
Software Version:	v1.00

- TIN:

TY 2019 ReasonableCauseExplanation

Name:

THE STANFORD UNIVERSITY TRUST FOR POST RETIREMENT

AND POST EMPLOYMENT BENEFITS

EIN:

94-3246199

Software ID:

19009572

Software Version:

v1.00

Explanation:

THE ORGANIZATION INADVERTENTLY MISUNDERSTOOD THE MANDATORY E-FILING REQUIREMENT TO APPLY FOR ITS FY21 TAX YEAR AND ACCORDINGLY PAPER FILED ITS FY20 FORM 990. AS SOON AS IT REALIZED THE ERROR, IT TOOK IMMEDIATE STEPS TO E-FILE THE RETURN. THE ORGANIZATION EXERCISES DUE DILIGENCE IN MEETING ALL ITS TAX OBLIGATIONS AND HAS A TRACK RECORD OF FILING TIMELY RETURNS IN THE PAST. THE ORGANIZATION IS ALSO IN THE PROCESS OF ENGAGING AN OUTSIDE TAX ADVISOR TO ASSIST WITH ITS TAX FILING OBLIGATIONS IN THE FUTURE. IT IS EVIDENT THAT THE ORGANIZATION ACTED IN GOOD FAITH AND WAS NOT NEGLIGENT IN PAPER FILING ITS FY20 FORM 990. FOR THESE REASONS, WE RESPECTFULLY REQUEST THAT THE IRS NOT IMPOSE ANY PENALTIES ON THE ORGANIZATION.

1	Briefly describe the organization’s mission or most significant activities: THE ORGANIZATION IS A TRUST AND HOLDS INVESTMENTS AND PAYS BENEFITS FOR THE STANFORD'S POST-RETIREMENT AND POST-EMPLOYMENT BENEFIT PLANS. IT PROVIDES POST-RETIREMENT & POST-EMPLOYMENT MEDICAL, DENTAL, LIFE INSURANCE AND OTHER COVERAGES FOR STANFORD'S RETIREES, DISABLED FORMER EMPLOYEES AND THEIR ELIGIBLE DEPENDENTS.
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	1
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	0
5	Total number of individuals employed in calendar year 2019 (Part V, line 2a) ......	5	0
6	Total number of volunteers (estimate if necessary) .............	6	0
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	0
b	Net unrelated business taxable income from Form 990-T, line 39 .........	7b	0

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	0	0
9	Program service revenue (Part VIII, line 2g) .........	28,303,195	26,111,347
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	8,765,625	12,324,214
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	0	0
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	37,068,820	38,435,561
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	0	0
14	Benefits paid to or for members (Part IX, column (A), line 4).....	33,271,026	34,500,184
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	137,772	149,257
16a	Professional fundraising fees (Part IX, column (A), line 11e) .....	0	0
b	Total fundraising expenses (Part IX, column (D), line 25) 0
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	1,254,086	1,346,438
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	34,662,884	35,995,879
19	Revenue less expenses. Subtract line 18 from line 12.......	2,405,936	2,439,682
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	274,218,039	309,226,138
21	Total liabilities (Part X, line 26).............	1,199,868	1,156,833
22	Net assets or fund balances. Subtract line 21 from line 20.....	273,018,171	308,069,305

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ 35,995,879 including grants of $ 0 ) (Revenue $ 26,111,347 )
	THE ORGANIZATION PROVIDED POST-RETIREMENT AND POST-EMPLOYMENT MEDICAL, DENTAL, LIFE INSURANCE AND OTHER COVERAGES FOR STANFORD'S RETIREES, DISABLED FORMER EMPLOYEES AND THEIR ELIGIBLE DEPENDENTS.

4b	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4c	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )












4d	Other program services (Describe in Schedule O.)
	(Expenses $ 0 including grants of $ 0 ) (Revenue $ 0 )
4e	Total program service expenses35,995,879

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)		(D) Reportable compensation from the organization (W-2/1099-MISC)	(E) Reportable compensation from related organizations (W-2/1099-MISC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and title
(1) VANGUARD FIDUCIARY TRUST TRUSTEE	20 ................. 20	X	141,034	164,890	0

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)...........	141,034	164,890	0

(A) Name and business address	(B) Description of services	(C) Compensation
BLUE SHIELD OF CALIFORNIA 50 BEALE SAN FRANCISCO,CA94105	BENEFITS ADMINISTRATION	955,475
DELTA DENTAL 100 1ST ST M/S 6D SAN FRANCISCO,CA94105	BENEFITS ADMINISTRATION	139,668



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 2

1a	Federated campaigns..		1a
b	Membership dues..		1b
c	Fundraising events..		1c
d	Related organizations		1d
e	Government grants (contributions)		1e

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

g	Noncash contributions included in lines 1a - 1f:$		1g

h Total. Add lines 1a-1f.......		0

		Business Code
2a	EMPLOYER CONTRIBUTIONS	900099	11,470,757	11,470,757	0	0
b	EMPLOYEE CONTRIBUTIONS	900099	14,640,590	14,640,590	0	0
c
d
e
f	All other program service revenue.		0	0	0	0
g	Total. Add lines 2a–2f .....		26,111,347

3 Investment income (including dividends, interest, and othersimilar amounts) ......			6,488,470	0	0	6,488,470
4 Income from investment of tax-exempt bond proceeds			0	0	0	0
5 Royalties...........			0	0	0	0
		(ii) Personal	(i) Real
6a	Gross rents			6a
b	Less: rental expenses			6b
c	Rental income or (loss)	0	0	6c
d	Net rental income or (loss).......
		(ii) Other	(i) Securities
7a	Gross amount from sales of assets other than inventory	0	61,996,654	7a
b	Less: cost or other basis and sales expenses	0	56,160,910	7b
c	Gain or (loss)	0	5,835,744	7c
d	Net gain or (loss).........			5,835,744	0	0	5,835,744
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ....
			8a
b	Less: direct expenses ...		8b
c	Net income or (loss) from fundraising events..
9a	Gross income from gaming activities. See Part IV, line 19 ...
			9a
b	Less: direct expenses ...		9b
c	Net income or (loss) from gaming activities..
10a	Gross sales of inventory, less returns and allowances ..
			10a
b	Less: cost of goods sold ..		10b
c	Net income or (loss) from sales of inventory..
Business Code			Miscellaneous Revenue
11a
b
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......			0
12	Total revenue. See instructions.....			38,435,561	26,111,347	0	12,324,214

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ...........
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............
4	Benefits paid to or for members .......	34,500,184
5	Compensation of current officers, directors, trustees, and key employees ...........	149,257
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........
7	Other salaries and wages........
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....
9	Other employee benefits .......
10	Payroll taxes ...........
11	Fees for services (non-employees):
a	Management ......
b	Legal .........
c	Accounting ...........
d	Lobbying ...........
e	Professional fundraising services. See Part IV, line 17
f	Investment management fees ......
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)	1,346,438
12	Advertising and promotion ....
13	Office expenses .......
14	Information technology ......
15	Royalties ..
16	Occupancy ...........
17	Travel ............
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .
19	Conferences, conventions, and meetings ....
20	Interest ...........
21	Payments to affiliates .......
22	Depreciation, depletion, and amortization ..
23	Insurance ...
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
b
c
d
e	All other expenses
25	Total functional expenses. Add lines 1 through 24e	35,995,879	0	0	0
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 ........			1
2	Savings and temporary cash investments .........			2
3	Pledges and grants receivable, net ......			3
4	Accounts receivable, net .............			4
5	Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .......
				5
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
				6
7	Notes and loans receivable, net ...........			7
8	Inventories for sale or use ............			8
9	Prepaid expenses and deferred charges ......			9
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a
b	Less: accumulated depreciation	10b		10c
11	Investments—publicly traded securities .		274,218,039	11	309,226,138
12	Investments—other securities. See Part IV, line 11 .....			12
13	Investments—program-related. See Part IV, line 11 ..			13
14	Intangible assets ...............			14
15	Other assets. See Part IV, line 11 ...........			15
16	Total assets. Add lines 1 through 15 (must equal line 33)...		274,218,039	16	309,226,138

17	Accounts payable and accrued expenses .....	1,199,868	17	1,156,833
18	Grants payable ...		18
19	Deferred revenue .........		19
20	Tax-exempt bond liabilities .........		20
21	Escrow or custodial account liability. Complete Part IV of Schedule D		21
22	Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
			22
23	Secured mortgages and notes payable to unrelated third parties ..		23
24	Unsecured notes and loans payable to unrelated third parties ..		24
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		25	0
26	Total liabilities. Add lines 17 through 25..	1,199,868	26	1,156,833

	Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27	Net assets without donor restrictions ..........	273,018,171	27	308,069,305
28	Net assets with donor restrictions ...........	0	28	0
	Organizations that do not follow FASB ASC 958, check here and complete lines 29 through 33.
29	Capital stock or trust principal, or current funds .....		29
30	Paid-in or capital surplus, or land, building or equipment fund ...		30
31	Retained earnings, endowment, accumulated income, or other funds		31
32	Total net assets or fund balances ...........	273,018,171	32	308,069,305
33	Total liabilities and net assets/fund balances ........	274,218,039	33	309,226,138