TY 2023 Form 990

- TIN:

Form990

Department of the TreasuryInternal Revenue Service

Return of Organization Exempt From Income Tax

Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations)

Do not enter social security numbers on this form as it may be made public.

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

OMB No. 1545-0047

2023

Open to Public Inspection

A For the 2023 calendar year, or tax year beginning 06-01-2023 , and ending 05-31-2024

BCheck if applicable: Address change Name change Initial return Final return/terminated Amended return Application pending

CName of organization
VILLANOVA UNIVERSITY

% NEIL J HORGAN VP FINANCE & C

Doing business as

Number and street (or P.O. box if mail is not delivered to street address)
800 LANCASTER AVENUE

Room/suite

City or town, state or province, country, and ZIP or foreign postal code
VILLANOVA, PA190851676

D Employer identification number

23-1352688

E Telephone number

G Gross receipts $ 1,079,123,589

F Name and address of principal officer:
PETER DONOHUE OSA
800 LANCASTER AVENUE
VILLANOVA,PA190851676

Tax-exempt status: 501(c)(3) 501(c) ( ) (insert no.) 4947(a)(1) or 527

Website:

WWW.VILLANOVA.EDU

H(a)

Is this a group return for
subordinates? Yes No

H(b)

Are all subordinates
included?

Yes No

If "No," attach a list. See instructions.

H(c)

Group exemption number 0928

K Form of organization: Corporation Trust Association Other

L Year of formation: 1848

M State of legal domicile: PA

Part I

Summary

1	Briefly describe the organization’s mission or most significant activities: See Schedule O
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	38
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	36
5	Total number of individuals employed in calendar year 2023 (Part V, line 2a) ......	5	7,022
6	Total number of volunteers (estimate if necessary) .............	6	11,172
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	9,162,945
b	Net unrelated business taxable income from Form 990-T, Part I, line 11 .........	7b	0

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	100,826,398	122,121,802
9	Program service revenue (Part VIII, line 2g) .........	616,825,668	646,665,027
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	39,382,484	74,106,350
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	24,775,342	33,692,584
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	781,809,892	876,585,763
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	187,403,760	196,441,760
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)	352,976,798	384,791,744
16a	Professional fundraising fees (Part IX, column (A), line 11e) .....	274,712	571,221
b	Total fundraising expenses (Part IX, column (D), line 25) 20,898,434
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	186,680,651	210,404,304
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	727,335,921	792,209,029
19	Revenue less expenses. Subtract line 18 from line 12.......	54,473,971	84,376,734
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	2,319,330,082	2,715,848,538
21	Total liabilities (Part X, line 26).............	336,094,643	562,080,503
22	Net assets or fund balances. Subtract line 21 from line 20.....	1,983,235,439	2,153,768,035

Part II

Signature Block

Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.

Sign Here

	Signature of officer	Date

	Type or print name and title

Paid Preparer Use Only

Print/Type preparer's name

Preparer's signature

Date

Check if
self-employed

PTIN

Firm's name

Firm's EIN

Firm's address

Phone no.

May the IRS discuss this return with the preparer shown above? See Instructions. ..........YesNo

For Paperwork Reduction Act Notice, see the separate instructions.

Cat. No. 11282Y Form 990 (2023)

Form 990 (2023)

Page 2

Part III

Statement of Program Service Accomplishments

Check if Schedule O contains a response or note to any line in this Part III..............

Briefly describe the organization’s mission: VILLANOVA UNIVERSITY IS A CATHOLIC AUGUSTINIAN COMMUNITY OF HIGHER EDUCATION, COMMITTED TO EXCELLENCE AND DISTINCTION IN THE DISCOVERY, DISSEMINATION AND APPLICATION OF KNOWLEDGE. INSPIRED BY THE LIFE AND TEACHING OF JESUS CHRIST, THE UNIVERSITY IS GROUNDED IN THE WISDOM OF THE CATHOLIC INTELLECTUAL TRADITION AND ADVANCES A DEEPER UNDERSTANDING OF THE RELATIONSHIP BETWEEN FAITH AND REASON. VILLANOVA EMPHASIZES AND CELEBRATES THE LIBERAL ARTS AND SCIENCES AS FOUNDATIONAL TO ALL ACADEMIC PROGRAMS. THE UNIVERSITY COMMUNITY WELCOMES AND RESPECTS MEMBERS OF ALL FAITHS WHO SEEK TO NURTURE A CONCERN FOR THE COMMON GOOD AND WHO SHARE AN ENTHUSIASM FOR THE CHALLENGE OF RESPONSIBLE AND PRODUCTIVE CITIZENSHIP IN ORDER TO BUILD A JUST AND PEACEFUL WORLD.

Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? ..................... Yes No

If "Yes," describe these new services on Schedule O.

Did the organization cease conducting, or make significant changes in how it conducts, any program
services? ........................... Yes No

If "Yes," describe these changes on Schedule O.

Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.


4a	(Code: ) (Expenses $ 209,724,943 including grants of $ 0 ) (Revenue $ 518,752,807 )
	INSTRUCTION: IN THE FALL SEMESTER OF 2024, THE UNIVERSITY HAD ENROLLED 6,819 FULL-TIME EQUIVALENT UNDERGRADUATE STUDENTS AND 2,369 FULL-TIME EQUIVALENT GRADUATE STUDENTS IN A VARIETY OF PROGRAMS.

4b	(Code: ) (Expenses $ 177,323,999 including grants of $ 177,323,999 ) (Revenue $ 0 )
	SCHOLARSHIP AND FELLOWSHIPS: A SIGNIFICANT AMOUNT OF FINANCIAL ASSISTANCE IS PROVIDED TO ENABLE QUALIFIED STUDENTS TO STUDY AT THE UNIVERSITY. A TOTAL OF 4,732 STUDENTS RECEIVED FINANCIAL ASSISTANCE FROM THE UNIVERSITY DURING FISCAL YEAR 2024.

4c	(Code: ) (Expenses $ 93,995,979 including grants of $ 186,655 ) (Revenue $ 118,141,210 )
	AUXILIARY SERVICES: VARIOUS GOODS AND SERVICES ARE PROVIDED FOR THE BENEFIT OF STUDENTS, FACULTY, AND STAFF. THE PRIMARY CATEGORIES INCLUDED ROOMS TO MORE THAN 5,000 STUDENTS ENROLLED DURING THE FALL AND SPRING SEMESTERS, MEALS, BOOKSTORE, CONFERENCE SERVICES, AND OTHER RELATED ACTIVITIES.

4d	Other program services (Describe in Schedule O.)
	(Expenses $ 246,200,932 including grants of $ 18,931,106 ) (Revenue $ 34,028,645 )
4e	Total program service expenses727,245,853

Form 990 (2023)

Page 3

Part IV

Checklist of Required Schedules

Yes

Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule A Click to see attachment

List of Attached Documents:

// Content

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

Yes

Is the organization required to complete Schedule B, Schedule of Contributors? See instructions. Click to see attachment

List of Attached Documents:

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...

Yes

Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part I Click to see attachment

List of Attached Documents:

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

Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part II Click to see attachment

List of Attached Documents:

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.........

Yes

Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Rev. Proc. 98-19? If "Yes," complete Schedule C, Part III Click to see attachment

List of Attached Documents:

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Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part I Click to see attachment

List of Attached Documents:

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

Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part II Click to see attachment

List of Attached Documents:

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....

Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes,"
complete Schedule D, Part III Click to see attachment

List of Attached Documents:

// Content

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

Yes

Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IV Click to see attachment

List of Attached Documents:

// Content

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

Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi endowments? If "Yes," complete Schedule D, Part V Click to see attachment

List of Attached Documents:

// Content

......

Yes

If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X, as applicable.

Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes," complete
Schedule D, Part VI. Click to see attachment

List of Attached Documents:

// Content

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

11a

Yes

Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VII Click to see attachment

List of Attached Documents:

// Content

.......

11b

Yes

Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIII Click to see attachment

List of Attached Documents:

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.......

11c

Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IX Click to see attachment

List of Attached Documents:

// Content

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

11d

Yes

Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part X Click to see attachment

List of Attached Documents:

// Content

11e

Yes

Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part X Click to see attachment

List of Attached Documents:

// Content

11f

12a

Did the organization obtain separate, independent audited financial statements for the tax year? If "Yes," complete
Schedule D, Parts XI and XII Click to see attachment

List of Attached Documents:

// Content

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

12a

Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment

List of Attached Documents:

// Content

12b

Yes

Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E Click to see attachment

List of Attached Documents:

// Content

Yes

14a

Did the organization maintain an office, employees, or agents outside of the United States? .....

14a

Yes

Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV......... Click to see attachment

List of Attached Documents:

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14b

Yes

Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IV..... Click to see attachment

List of Attached Documents:

// Content

Yes

Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV... Click to see attachment

List of Attached Documents:

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Yes

Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I. See instructions. .... Click to see attachment

List of Attached Documents:

// Content

Yes

Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............ Click to see attachment

List of Attached Documents:

// Content

Yes

Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III................... Click to see attachment

List of Attached Documents:

// Content

20a

Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....

20a

If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?

20b

Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II..... Click to see attachment

List of Attached Documents:

// Content

Yes

Form 990 (2023)

Page 4

Part IV

Checklist of Required Schedules (continued)

Yes

Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........ Click to see attachment

List of Attached Documents:

// Content

Yes

Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment

List of Attached Documents:

// Content

Yes

24a

Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a............... Click to see attachment

List of Attached Documents:

// Content

24a

Yes

Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...

24b

Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds? ...............

24c

Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...

24d

25a

Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I .... Click to see attachment

List of Attached Documents:

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25a

Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I....................... Click to see attachment

List of Attached Documents:

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25b

Did the organization report any amount on Part X, line 5 or 22 for receivables from or 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? If "Yes," complete Schedule L, Part II Click to see attachment

List of Attached Documents:

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...........

Did the organization provide a grant or other assistance to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or employee thereof, a grant selection committee member, or to a 35% controlled entity (including an employee thereof) or family member of any of these persons?

If "Yes," complete

Schedule L, Part III Click to see attachment

List of Attached Documents:

// Content

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

Was the organization a party to a business transaction with one of the following parties (see the Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):

A current or former officer, director, trustee, key employee, creator or founder, or substantial contributor? If "Yes," complete Schedule L, Part IV...................... Click to see attachment

List of Attached Documents:

// Content

28a

A family member of any individual described in line 28a? If "Yes," complete Schedule L, Part IV..... Click to see attachment

List of Attached Documents:

// Content

28b

Yes

A 35% controlled entity of one or more individuals and/or organizations described in line 28a or 28b? If "Yes," complete Schedule L, Part IV..................... Click to see attachment

List of Attached Documents:

// Content

28c

Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M.. Click to see attachment

List of Attached Documents:

// Content

Yes

Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M ................. Click to see attachment

List of Attached Documents:

// Content

Yes

Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N, Part I

Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II........................

Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I............ Click to see attachment

List of Attached Documents:

// Content

Yes

Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1......................... Click to see attachment

List of Attached Documents:

// Content

Yes

35a

Did the organization have a controlled entity within the meaning of section 512(b)(13)?

35a

Yes

If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2 ... Click to see attachment

List of Attached Documents:

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35b

Yes

Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2............. Click to see attachment

List of Attached Documents:

// Content

Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VI Click to see attachment

List of Attached Documents:

// Content

Did the organization complete Schedule O and provide explanations on Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............

Yes

Part V

Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V...........

Yes

Enter the number reported in box 3 of Form 1096. Enter -0- if not applicable ..

739

Enter the number of Forms W-2G included on line 1a. Enter -0- if not applicable .

Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................

Yes

Form 990 (2023)

Page 5

Part V

Statements Regarding Other IRS Filings and Tax Compliance (continued)

Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................

7,022

If at least one is reported on line 2a, did the organization file all required federal employment tax returns?

Yes

Did the organization have unrelated business gross income of $1,000 or more during the year?...

Yes

If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...

Yes

At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)? ..

If "Yes," enter the name of the foreign country:
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).

Was the organization a party to a prohibited tax shelter transaction at any time during the tax year? ..

Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?

If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............

Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions? ...

If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? ......................

Organizations that may receive deductible contributions under section 170(c).

Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor? ....................

Yes

If "Yes," did the organization notify the donor of the value of the goods or services provided? .....

Yes

Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282? .........................

If "Yes," indicate the number of Forms 8282 filed during the year ....

Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?

Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ..

If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? ......................

If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C? ..........................

Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year? ........

Sponsoring organizations maintaining donor advised funds.

Did the sponsoring organization make any taxable distributions under section 4966?........

Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...

Section 501(c)(7) organizations. Enter:

Initiation fees and capital contributions included on Part VIII, line 12 ...

10a

Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities

10b

Section 501(c)(12) organizations. Enter:

Gross income from members or shareholders .........

11a

Gross income from other sources. (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........

11b

12a

Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?

12a

If "Yes," enter the amount of tax-exempt interest received or accrued during the year.

12b

Section 501(c)(29) qualified nonprofit health insurance issuers.

Is the organization licensed to issue qualified health plans in more than one state? .........
Note. See the instructions for additional information the organization must report on Schedule O.

13a

Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....

13b

Enter the amount of reserves on hand ............

13c

14a

Did the organization receive any payments for indoor tanning services during the tax year?.....

14a

If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..

14b

Is the organization subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or excess parachute payment(s) during the year? ....................
If "Yes," see the instructions and file Form 4720, Schedule N.

Yes

Is the organization an educational institution subject to the section 4968 excise tax on net investment income? ..
If "Yes," complete Form 4720, Schedule O.

Section 501(c)(21) organizations. Did the trust, or any disqualified or other person engage in any activities that would result in the imposition of an excise tax under section 4951, 4952, or 4953? ..
If "Yes," complete Form 6069.

Form 990 (2023)

Page 6

Part VI

Governance, Management, and Disclosure. For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.

Check if Schedule O contains a response or note to any line in this Part VI..............

Section A. Governing Body and Management

Yes

Enter the number of voting members of the governing body at the end of the tax year

If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.

Enter the number of voting members included in line 1a, above, who are independent

Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................

Yes

Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .

Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? .

Did the organization become aware during the year of a significant diversion of the organization’s assets? .

Did the organization have members or stockholders? ................

Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................

Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................

Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:

The governing body? .......................

Yes

Each committee with authority to act on behalf of the governing body? ............

Yes

Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......

Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)

Yes

10a

Did the organization have local chapters, branches, or affiliates? ............

10a

If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?

10b

11a

Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................

11a

Yes

Describe on Schedule O the process, if any, used by the organization to review this Form 990. .....

12a

Did the organization have a written conflict of interest policy? If "No," go to line 13.......

12a

Yes

Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................

12b

Yes

Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe on Schedule O how this was done...................

12c

Yes

Did the organization have a written whistleblower policy? ...............

Yes

Did the organization have a written document retention and destruction policy? .........

Yes

Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?

The organization’s CEO, Executive Director, or top management official ...........

15a

Yes

Other officers or key employees of the organization ................

15b

Yes

If "Yes" to line 15a or 15b, describe the process on Schedule O. See instructions.

16a

Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................

16a

If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............

16b

Section C. Disclosure

List the states with which a copy of this Form 990 is required to be filed

AK , CO , KY , MD , MA , MI , NH , NY , OH , OK , OR , PA , WA

Section 6104 requires an organization to make its Form 1023 (1024 or 1024-A, if applicable), 990, and 990-T (section 501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.

Own website Another's website Upon request Other (explain in Schedule O)

Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.

State the name, address, and telephone number of the person who possesses the organization's books and records:
NEIL J HORGAN VP FINANCE C800 LANCASTER AVE VILLANOVA,PA190851676 (610) 519-4535

Form 990 (2023)

Page 7

Part VII

Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors

Check if Schedule O contains a response or note to any line in this Part VII..............

Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees

1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet

List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

List all of the organization’s current key employees, if any. See the instructions for definition of "key employee."

List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (box 5 of Form W-2, box 6 of Form 1099-MISC, and/or box 1 of Form 1099-NEC) of more than $100,000 from the organization and any related organizations.

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

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

See the instructions for the order in which to list the persons above.

Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)				(D) Reportable compensation from the organization (W-2/1099-MISC/1099-NEC)	(E) Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and title
(1) MR KYLE A NEPTUNE...................................................................... COACH, MEN'S BASKETBALL	35.0 ................. 0.0			X	1,736,558	0	135,060
(2) PATRICK G MAGGITTI PHD...................................................................... PROVOST	35.0 ................. 0.0	X			877,706	0	410,936
(3) MR MARK W JACKSON...................................................................... VP & DIRECTOR OF ATHLETICS	35.0 ................. 0.0	X			999,445	0	169,303
(4) MR JEROLD T WRIGHT...................................................................... ASSISTANT TO THE PRESIDENT	35.0 ................. 0.0			X	997,961	0	49,350
(5) MR SHANE P MCANDREW...................................................................... CHIEF INVESTMENT OFFICER	35.0 ................. 0.0		X		709,568	0	235,060
(6) E MICHAEL ZUBEY JR JD...................................................................... VP & GENERAL COUNSEL	35.0 ................. 0.0	X			679,143	0	168,279
(7) MR ROGER DEMARESKI...................................................................... EXEC VP ADMIN & OPERATIONS	35.0 ................. 0.0	X			729,478	0	114,400
(8) MARK C ALEXANDER JD...................................................................... DEAN/PROF, SCHOOL OF LAW	35.0 ................. 0.0		X		595,722	0	94,399
(9) MR NEIL J HORGAN...................................................................... VP FOR FINANCE & CFO	35.0 ................. 0.0	X			493,241	0	177,049
(10) MS DENISE E DILLON...................................................................... COACH, WOMEN'S BASKETBALL	35.0 ................. 0.0			X	561,806	0	36,642
(11) KEVIN D CLARK PHD...................................................................... PROFESSOR	35.0 ................. 0.0			X	506,149	0	54,026
(12) JEREMY KEES PHD...................................................................... PROFESSOR	35.0 ................. 0.0			X	472,229	0	55,089
(13) MR KEVIN NOLLER...................................................................... VP, UNIVERSITY ADVANCEMENT	35.0 ................. 0.0	X			455,480	0	50,041
(14) MICHELE MARCOLONGO PHD...................................................................... DEAN, COLLEGE OF ENGINEERING	35.0 ................. 0.0		X		460,902	0	44,399
(15) ADELE LINDENMEYR PHD...................................................................... DEAN, COLLEGE LIBERAL A&S	35.0 ................. 0.0		X		461,769	0	40,097
(16) DONNA S HAVENS PHD RN FAAN...................................................................... DEAN/PROF, COLLEGE OF NURSING	35.0 ................. 0.0		X		419,800	0	34,428
(17) MR RAYMOND D DUFFY...................................................................... VP, HR & AFF ACTION OFFICER	35.0 ................. 0.0	X			389,627	0	54,785

Form 990 (2023)

Page 8

Part VII

Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)				(D) Reportable compensation from the organization (W-2/1099-MISC/1099-NEC)	(E) Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and title
(18) JOYCE E RUSSELL PHD........................................................................ PROFESSOR	35.0 .......................0.0				X	411,268	0	27,252
(19) WEN MAO PHD........................................................................ DEAN, SCHOOL OF BUSINESS	35.0 .......................0.0			X		387,638	0	40,805
(20) MR ROBERT H MORRO........................................................................ VP, FACILITIES MANAGEMENT	35.0 .......................0.0		X			365,059	0	32,523
(21) MS ANN E DIEBOLD........................................................................ VP, UNIVERSITY COMMUNICATIONS	35.0 .......................0.0		X			334,258	0	40,010
(22) CRAIG M WHEELAND PHD........................................................................ SR VICE PROVOST, ACADEMICS	35.0 .......................0.0			X		319,250	0	54,735
(23) MR J LEON WASHINGTON........................................................................ DEAN, ENROLLMENT MANAGEMENT	35.0 .......................0.0			X		345,926	0	27,453
(24) KATHLEEN J BYRNES JD........................................................................ VP, STUDENT LIFE	35.0 .......................0.0		X			325,870	0	32,863
(25) RANDY D WEINSTEIN PHD........................................................................ VP, TEACHING & LEARNING	35.0 .......................0.0				X	319,125	0	39,254
(26) MR MICHAEL J O'NEILL........................................................................ SR VP, UNIV ADVANCEMENT	35.0 .......................0.0				X	288,081	0	63,806
(27) CHRISTINE K PALUS PHD........................................................................ DEAN, COLLEGE OF PROF STUDIES	35.0 .......................0.0			X		320,342	0	30,754
(28) TERESA A NANCE PHD........................................................................ VP, DVSTY/INCLSN AND CDO	35.0 .......................0.0		X			262,298	0	38,627
(29) MR ANTHONY N ALFANO........................................................................ ASSOC VP, AUXILIARY SERVICES	35.0 .......................0.0			X		255,264	0	42,423
(30) MS KELLY P DONEY........................................................................ VP TECH & CHIEF INFO OFFICER	35.0 .......................0.0		X			226,455	0	23,742
(31) REV PETER M DONOHUE OSA........................................................................ PRESIDENT/TRUSTEE	35.0 .......................0.0	X	X			0	0	0
(32) MR GEORGE W COLEMAN........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(33) MR JOSEPH F DELANEY III........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(34) MS SUSAN M DILORETO........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(35) MS CHRISTINE A DORFLER........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(36) REV FRANCIS J DOYLE OSA........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(37) MS CAROLYN N EVERSON........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(38) MR ENRICO S GAGLIOTI........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(39) MR CHRISTOPHER T GHEYSENS........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(40) REV ROBERT HAGAN OSA........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(41) REV R JAMES HALSTEAD OSA PHD STD........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(42) MR THOMAS J HOLT JR........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(43) REV FRANCIS J HORN OSAJCD........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(44) MR CHRISTOPHER HYZY........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(45) MR TOM KLEIN........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(46) MR MICHAEL R KOUREY........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(47) MR RICHARD J KREIDER........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(48) MS CHRISTINA LARSON KELLY........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(49) MS NENNA J LYNCH........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(50) MR CHRISTOPHER J MAGUIRE........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(51) MR ALFONSO MARTINEZ-FONTS JR........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(52) MS ELIZABETH T MAZZEO........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(53) MR ARTHUR METZLER........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(54) MR BOB F MORAN........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(55) REV JOSEPH S MOSTARDI OSA........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(56) REV KEVIN C MULLINS OSA........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(57) MR DANIEL F O'DEA JR........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(58) REV ANTHONY B PIZZO OSA........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(59) MR THOMAS M QUINDLEN........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(60) REV DONALD P REILLY OSA........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(61) ANNE K ROBY PHD........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(62) MS DIANE P ROWEN........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(63) MS SIRAN H SAHAKIAN........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(64) MS ERIN SCANLON........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(65) MR THOMAS A WAGNER III........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(66) MS SUSAN M WARD........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(67) MS KATHERINE K WATERS........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(68) DAVID S WILKES MD........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(69) MS DARLA WOLFE........................................................................ TRUSTEE AS REQUIRED	1.0 .......................0.0	X				0	0	0
(70) REV KEVIN DEPRINZIO OSA PHD........................................................................ VP FOR MISSION & MINISTRY	35.0 .......................0.0		X			0	0	0

1b	Sub-Total..............
c	Total from continuation sheets to Part VII, Section A..
d	Total (add lines 1b and 1c).........	14,354,978	0	2,218,238

Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization 779

Yes

Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............

Yes

For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such
individual...........................

Yes

Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........

Section B. Independent Contractors

Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.

(A) Name and business address	(B) Description of services	(C) Compensation
WOHLSEN CONSTRUCTION CO, 1200 W SWEDESFORD RD 130 BERWYN,PA19312	CONSTRUCTION SVCS	44,806,589
GBUILD CONSTRUCTION MANAGERS, 111 SUMMIT DR EXTON,PA19341	CONSTRUCTION SVCS	6,997,015
ROBERT A M STERN ARCHITECTS, 1 PARK AVE NEW YORK,NY10016	ARCHITECTURE	3,806,137
GRACE CONSTRUCTION MGMT CO LLC, 1530 GLEN AVE MOORESTOWN,NJ08057	CONSTRUCTION SVCS	3,373,858
A-1 CONSTRUCTION SPECIALITY INC, 769 W MAIN ST COLLEGEVILLE,PA19426	CONSTRUCTION SVCS	3,232,651
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 142

Form 990 (2023)

Page 9

Part VIII

Statement of Revenue

Check if Schedule O contains a response or note to any line in this Part VIII.............

(A)
Total revenue

(B)
Related or
exempt
function
revenue

(D)
Revenue
excluded from
tax under sections
512 - 514

1a	Federated campaigns..		1a	105,150
b	Membership dues..		1b
c	Fundraising events..		1c	122,206
d	Related organizations		1d
e	Government grants (contributions)		1e	15,002,125

f	All other contributions, gifts, grants, and similar amounts not included above		1f	106,892,321

g	Noncash contributions included in lines 1a - 1f:$		1g	18,320,711

h Total. Add lines 1a-1f.......		122,121,802

		Business Code
2a	TUITION & FEES	611310	535,239,000	535,239,000
b	SALES & SERVICES, AUXILIARY ENTERPRISES	721000	111,426,027	104,875,143	6,550,884
c
d
e
f	All other program service revenue.
g	Total. Add lines 2a–2f .....		646,665,027

3 Investment income (including dividends, interest, and othersimilar amounts) ......			20,580,041		1,054,432	19,525,609
4 Income from investment of tax-exempt bond proceeds			699,809			699,809
5 Royalties...........			0
			(i) Real	(ii) Personal
6a	Gross rents	6a	1,090,542
b	Less: rental expenses	6b	0
c	Rental income or (loss)	6c	1,090,542	0
d	Net rental income or (loss).......			1,090,542			1,090,542
			(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory	7a	255,242,120
b	Less: cost or other basis and sales expenses	7b	202,415,620
c	Gain or (loss)	7c	52,826,500
d	Net gain or (loss).........			52,826,500			52,826,500
8a	Gross income from fundraising events (not including $ 122,206of contributions reported on line 1c). See Part IV, line 18 ....
			8a	122,206
b	Less: direct expenses ...		8b	122,206
c	Net income or (loss) from fundraising events..			0
9a	Gross income from gaming activities. See Part IV, line 19 ...
			9a	0
b	Less: direct expenses ...		9b	0
c	Net income or (loss) from gaming activities..			0
10a	Gross sales of inventory, less returns and allowances ..
			10a	0
b	Less: cost of goods sold ..		10b	0
c	Net income or (loss) from sales of inventory..			0

Business Code
11a	EXTERNAL USE OF ATHLETIC FACILITIES		541800	24,081,316	22,502,024	1,343,398	235,894
b	BELLE AIR YEARBOOK		721000	74,048	62,684	11,364
c	ALL OTHER REVENUE		900099	8,446,678	8,243,811	202,867
d	All other revenue ....
e	Total. Add lines 11a–11d ......			32,602,042
12	Total revenue. See instructions.....			876,585,763	670,922,662	9,162,945	74,378,354

Form 990 (2023)

Page 10

Part IX

Statement of Functional Expenses

Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX..............

Do not include amounts reported on lines 6b, 7b, 8b, 9b, and 10b of Part VIII.		(A) Total expenses	(B) Program service expenses	(C) Management and general expenses	(D) Fundraising expenses

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....	186,655	186,655
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ...........	177,323,999	177,323,999
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............	18,931,106	18,931,106
4	Benefits paid to or for members .......	0
5	Compensation of current officers, directors, trustees, and key employees ...........	11,070,312	6,143,084	4,404,514	522,714
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........	648,509	648,509
7	Other salaries and wages........	292,225,190	274,345,392	6,975,278	10,904,520
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	20,692,493	19,138,132	775,564	778,797
9	Other employee benefits .......	40,124,564	36,725,193	1,503,886	1,895,485
10	Payroll taxes ...........	20,030,676	18,526,029	750,759	753,888
11	Fees for services (non-employees):
a	Management ......	2,795,377	2,111,598	683,779
b	Legal .........	4,905,407	180,505	4,724,902
c	Accounting ...........	315,957		315,957
d	Lobbying ...........	260,030	260,030
e	Professional fundraising services. See Part IV, line 17	571,221			571,221
f	Investment management fees ......	14,752,030		14,752,030
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)	182,282			182,282
12	Advertising and promotion ....	5,256,861	5,220,241	24,249	12,371
13	Office expenses .......	10,178,480	9,618,286		560,194
14	Information technology ......	9,119,059	8,982,273	136,786
15	Royalties ..	0
16	Occupancy ...........	8,135,170	7,931,790	122,028	81,352
17	Travel ............	22,104,148	21,299,278	71,777	733,093
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .	0
19	Conferences, conventions, and meetings ....	554,235	554,235
20	Interest ...........	6,907,662	6,734,970	103,615	69,077
21	Payments to affiliates .......	0
22	Depreciation, depletion, and amortization ..	42,319,674	41,261,682	634,795	423,197
23	Insurance ...	4,088,884	578,971	3,509,913
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	PURCHASED SERVICES	27,440,215	25,950,692	879,670	609,853
b	COSTS OF GOODS SOLD	15,619,019	15,619,019	0	0
c	LIBRARY BOOKS & SUBSCRIPTIONS	7,554,959	7,554,959	0	0
d	TRUSTEE OPERATING EXPENSES	27,914,855	21,419,225	3,695,240	2,800,390
e	All other expenses
25	Total functional expenses. Add lines 1 through 24e	792,209,029	727,245,853	44,064,742	20,898,434
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).

Form 990 (2023)

Page 11

Part X

Balance Sheet

Check if Schedule O contains a response or note to any line in this Part IX..............

				(A) Beginning of year		(B) End of year

1	Cash–non-interest-bearing ........			135,841	1	129,212
2	Savings and temporary cash investments .........			145,830,535	2	132,412,841
3	Pledges and grants receivable, net ......			94,849,123	3	107,200,953
4	Accounts receivable, net .............			10,157,147	4	15,174,324
5	Loans and other receivables from 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 .......
				0	5	0
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) ...
				0	6	0
7	Notes and loans receivable, net ...........			0	7	0
8	Inventories for sale or use ............			565,027	8	545,851
9	Prepaid expenses and deferred charges ......			7,237,202	9	8,385,670
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	1,432,754,309
b	Less: accumulated depreciation	10b	551,231,909	800,660,548	10c	881,522,400
11	Investments—publicly traded securities .			498,615,796	11	525,436,977
12	Investments—other securities. See Part IV, line 11 .....			736,165,504	12	805,149,218
13	Investments—program-related. See Part IV, line 11 ..			5,560,733	13	4,762,516
14	Intangible assets ...............			0	14	0
15	Other assets. See Part IV, line 11 ...........			19,552,626	15	235,128,576
16	Total assets. Add lines 1 through 15 (must equal line 33)...			2,319,330,082	16	2,715,848,538

17	Accounts payable and accrued expenses .....	82,870,521	17	96,040,196
18	Grants payable ...	3,751,038	18	5,781,855
19	Deferred revenue .........	23,244,929	19	22,603,182
20	Tax-exempt bond liabilities .........	201,820,647	20	417,726,356
21	Escrow or custodial account liability. Complete Part IV of Schedule D	0	21	0
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 .........
		0	22	0
23	Secured mortgages and notes payable to unrelated third parties ..	0	23	0
24	Unsecured notes and loans payable to unrelated third parties ..	0	24	0
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D	24,407,508	25	19,928,914
26	Total liabilities. Add lines 17 through 25..	336,094,643	26	562,080,503

	Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27	Net assets without donor restrictions ..........	1,039,284,439	27	1,129,082,784
28	Net assets with donor restrictions ...........	943,951,000	28	1,024,685,251
	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 ...........	1,983,235,439	32	2,153,768,035
33	Total liabilities and net assets/fund balances ........	2,319,330,082	33	2,715,848,538

Form 990 (2023)

Page 12

Part XI

Reconcilliation of Net Assets

Check if Schedule O contains a response or note to any line in this Part XI..............

Total revenue (must equal Part VIII, column (A), line 12) ............

876,585,763

Total expenses (must equal Part IX, column (A), line 25) ............

792,209,029

Revenue less expenses. Subtract line 2 from line 1 ..............

84,376,734

Net assets or fund balances at beginning of year (must equal Part X, line 32, column (A)) ..

1,983,235,439

Net unrealized gains (losses) on investments ...............

89,281,629

Donated services and use of facilities .................

924,790

Investment expenses .....................

Prior period adjustments .....................

Other changes in net assets or fund balances (explain in Schedule O) ........

-4,050,557

Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 32, column (B))

2,153,768,035

Part XII

Financial Statements and Reporting

Check if Schedule O contains a response or note to any line in this Part XII.............

Yes

Accounting method used to prepare the Form 990: Cash Accrual Other
If the organization changed its method of accounting from a prior year or checked "Other," explain on
Schedule O.

Were the organization’s financial statements compiled or reviewed by an independent accountant?

If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:

Separate basis Consolidated basis Both consolidated and separate basis

Were the organization’s financial statements audited by an independent accountant?

Yes

If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:

Separate basis Consolidated basis Both consolidated and separate basis

If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?

Yes

If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.

As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Uniform Guidance, 2 C.F.R. Part 200, Subpart F?

Yes

If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.

Yes

Form 990 (2023)

Additional Data

Software ID:
Software Version:

Form 990, Special Condition Description:

Special Condition Description

- TIN:

SCHEDULE A
(Form 990)

Department of the Treasury
Internal Revenue Service

Public Charity Status and Public Support

Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
right arrow

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

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

OMB No. 1545-0047

2023

Open to Public
Inspection

Name of the organization

VILLANOVA UNIVERSITY

Employer identification number

23-1352688

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 12, 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).)

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 agricultural research organization described in 170(b)(1)(A)(ix) operated in conjunction with a land-grant college or university or a non-land grant college of agriculture. See instructions. Enter the name, city, and state of the college or university:

An organization that normally receives: (1) more than 33 1/3% 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 33 1/3% 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 on lines 12a through 12d that describes the type of supporting organization and complete lines 12e, 12f, and 12g.

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) 2023

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 failed to qualify under the tests listed below, please complete Part III.)

Section A. Public Support

Calendar year (or fiscal year beginning in)		(a) 2019	(b) 2020	(c) 2021	(d) 2022	(e) 2023	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") ..	61,531,999	80,996,555	126,688,853	100,826,398	122,121,802	492,165,607
2	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf ....						0
3	The value of services or facilities furnished by a governmental unit to the organization without charge..						0
4	Total. Add lines 1 through 3	61,531,999	80,996,555	126,688,853	100,826,398	122,121,802	492,165,607
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) ..						11,863,006
6	Public support. Subtract line 5 from line 4.						480,302,601

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2019	(b) 2020	(c) 2021	(d) 2022	(e) 2023	(f) Total
7	Amounts from line 4..	61,531,999	80,996,555	126,688,853	100,826,398	122,121,802	492,165,607
8	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources...	6,240,903	5,669,587	11,809,095	11,823,029	20,675,788	56,218,402
9	Net income from unrelated business activities, whether or not the business is regularly carried on..	506,454	312,394	0	0	0	818,848
10	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.)..	22,418,093	10,241,752	22,725,847	22,318,967	31,044,413	108,749,072
11	Total support. Add lines 7 through 10						657,951,929

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

2,916,531,029

First 5 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 2023 (line 6, column (f) divided by line 11, column (f)) .........

73.000 %

Public support percentage for 2022 Schedule A, Part II, line 14 ...............

71.486 %

16a

33 1/3% support test—2023. 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—2022. 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—2023. 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—2022. 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) 2023

Page 3

Part III

Support Schedule for Organizations Described in Section 509(a)(2)
(Complete only if you checked the box on line 10 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) 2019	(b) 2020	(c) 2021	(d) 2022	(e) 2023	(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) 2019	(b) 2020	(c) 2021	(d) 2022	(e) 2023	(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 on 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 5 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 2023 (line 8, column (f) divided by line 13, column (f)) .........

Public support percentage from 2022 Schedule A, Part III, line 15 ...............

Section D. Computation of Investment Income Percentage

Investment income percentage for 2023 (line 10c, column (f) divided by line 13, column (f)) ......

Investment income percentage from 2022 Schedule A, Part III, line 17 .............

19a

33 1/3% support tests-2023. 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—2022. 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) 2023

Page 4

Part IV

Supporting Organizations

(Complete only if you checked a box on line 12 of Part I. If you checked box 12a, of Part I, complete Sections A and B. If you checked box 12b, of Part I, complete Sections A and C. If you checked box 12c, of Part I, complete Sections A, D, and E. If you checked box12d, 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 lines 3b and 3c 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 box 12a or 12b in Part I, answer lines 4b and 4c 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 lines 5b and 5c 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) .

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

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

Did one or more disqualified persons (as defined on 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 on 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) 2023

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 on lines 11b and 11c below, the governing body of a supported organization?

11a

A family member of a person described on 11a above?

11b

A 35% controlled entity of a person described on line 11a or 11b above? If “Yes” to 11a, 11b, or 11c, provide detail in Part VI.

11c

Section B. Type I Supporting Organizations

Yes

Did the officers, 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 line 2 above, 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 lines 2a and 2b 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 on line 2a, above 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 lines 3a and 3b 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?If "Yes" or "No", 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) 2023

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 (explain in Part VI). 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 0.015 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 0.035	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) 2023

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	1
2 Amounts paid to perform activity that directly furthers exempt purposes of supported organizations, in excess of income from activity	2
3 Administrative expenses paid to accomplish exempt purposes of supported organizations	3
4 Amounts paid to acquire exempt-use assets	4
5 Qualified set-aside amounts (prior IRS approval required - provide details in Part VI)	5
6 Other distributions (describe in Part VI). See instructions	6
7Total annual distributions. Add lines 1 through 6.	7
8 Distributions to attentive supported organizations to which the organization is responsive (provide details in Part VI). See instructions	8
9 Distributable amount for 2023 from Section C, line 6	9
10 Line 8 amount divided by Line 9 amount	10

Section E - Distribution Allocations (see instructions)		(i) Excess Distributions	(ii) Underdistributions Pre-2023	(iii) Distributable Amount for 2023
1 Distributable amount for 2023 from Section C, line 6
2 Underdistributions, if any, for years prior to 2023 (reasonable cause required-- explain in Part VI). See instructions.
3 Excess distributions carryover, if any, to 2023:
a From 2018.......
b From 2019.......
c From 2020.......
d From 2021.......
e From 2022.......
fTotal of lines 3a through e
g Applied to underdistributions of prior years
h Applied to 2023 distributable amount
i Carryover from 2018 not applied (see instructions)
j Remainder. Subtract lines 3g, 3h, and 3i from line 3f.
4Distributions for 2023 from Section D, line 7:
$
a Applied to underdistributions of prior years
b Applied to 2023 distributable amount
c Remainder. Subtract lines 4a and 4b from line 4.
5 Remaining underdistributions for years prior to 2023, if any. Subtract lines 3g and 4a from line 2. If the amount is greater than zero, explain in Part VI. See instructions.
6 Remaining underdistributions for 2023. Subtract lines 3h and 4b from line 1. If the amount is greater than zero, explain in Part VI. See instructions.
7 Excess distributions carryover to 2024. Add lines 3j and 4c.
8 Breakdown of line 7:
a Excess from 2019.....
b Excess from 2020.....
c Excess from 2021.....
d Excess from 2022.....
e Excess from 2023.....

Schedule A (Form 990) (2023)

Schedule A (Form 990) 2023

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
PART II, LINE 10	OTHER INCOME INCLUDES AMOUNTS IN THE FORM 990, PART VIII, LINES 11A-11D FOR RELATED OR EXEMPT FUNCTION REVENUE.

Schedule A (Form 990) 2023

Additional Data

Software ID:
Software Version:

- TIN:

Schedule B
(Form 990)

Department of the Treasury
Internal Revenue Service

Schedule of Contributors

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

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

OMB No. 1545-0047

2023

Name of the organization

VILLANOVA UNIVERSITY

Employer identification number

23-1352688

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. Don't 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 isn't covered by the General Rule and/or the Special Rules doesn't 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 doesn't 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) (2023)

Schedule B (Form 990) (2023) Page 2

Name of organization VILLANOVA UNIVERSITY

Part I Contributors	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) (2023)

Schedule B (Form 990) (2023)

Page 3

Name of organization VILLANOVA UNIVERSITY		Employer identification number 23-1352688

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) (2023)

Schedule B (Form 990) (2023)

Page 4


Name of organization VILLANOVA UNIVERSITY			Employer identification number 23-1352688
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) (2023)

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE C
(Form 990)

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

right arrow

Complete if the organization is described below. right arrow

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

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

OMB No. 1545-0047

2022

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

VILLANOVA UNIVERSITY

Employer identification number

23-1352688

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. See instructions for definition of “political campaign activities."

Political campaign activity expenditures. See instructions .................................................................... right arrow

Volunteer hours for political campaign activities. See instructions ..................................................................

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 ................................ right arrow

Enter the amount of any excise tax incurred by organization managers under section 4955 ....................... right arrow

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 ..... right arrow

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

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

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.

Cat. No. 50084S

Schedule C (Form 990) 2022

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 right arrow

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

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

Limits on Lobbying Expenditures (The term "expenditures" means amounts paid or incurred.)		(b) Affiliated group totals
1a	Total lobbying expenditures to influence public opinion (grass roots lobbying) ......................
b	Total lobbying expenditures to influence a legislative body (direct lobbying) ........................
c	Total lobbying expenditures (add lines 1a and 1b) ............................................................
d	Other exempt purpose expenditures ...............................................................................
e	Total exempt purpose expenditures (add lines 1c and 1d) ..................................................
f	Lobbying nontaxable amount. Enter the amount from the following table in both columns.
	If the amount on line 1e, column (a) or (b) is:The lobbying nontaxable amount is:
	Not over $500,00020% of the amount on line 1e.
	Over $500,000 but not over $1,000,000$100,000 plus 15% of the excess over $500,000.
	Over $1,000,000 but not over $1,500,000$175,000 plus 10% of the excess over $1,000,000.
	Over $1,500,000 but not over $17,000,000$225,000 plus 5% of the excess over $1,500,000.
	Over $17,000,000$1,000,000.

g	Grassroots nontaxable amount (enter 25% of line 1f) .................................................
h	Subtract line 1g from line 1a. If zero or less, enter -0-. ................................................
i	Subtract line 1f from line 1c. If zero or less, enter -0-. ................................................
j	If there is an amount other than zero on either line 1h or line 1i, did the organization file Form 4720 reporting section 4911 tax for this year? ...................................................................................................................	Yes No

4-Year Averaging Period Under Section 501(h) (Some organizations that made a section 501(h) election do not have to complete all of the five columns below. See the separate instructions for lines 2a through 2f.)
Lobbying Expenditures During 4-Year Averaging Period
	Calendar year (or fiscal year beginning in)	(a) 2019	(b) 2020	(c) 2021	(d) 2022	(e) Total

2a	Lobbying nontaxable amount

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

c	Total lobbying expenditures

d	Grassroots nontaxable amount

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

f	Grassroots lobbying expenditures

Schedule C (Form 990) 2022

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|No

(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? .......................

Yes

260,030

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

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

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

260,030

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

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

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

If the filing organization incurred a section 4912 tax, did it file Form 4720 for this year? ........................

Part III-A

Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6).

Yes

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

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

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

Part III-B

Complete if the organization is exempt under section 501(c)(4), section 501(c)(5), or section 501(c)(6) and if either (a) BOTH Part III-A, lines 1 and 2, are answered "No" OR (b) Part III-A, line 3, is answered “Yes."

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

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

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

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

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

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

If notices were sent and the amount on line 2c exceeds the amount on line 3, what portion of the excess does the organization agree to carryover to the reasonable estimate of nondeductible lobbying and political expenditure next year? ......................................................................................................................

Taxable amount of lobbying and political expenditures. See Instructions .........................................

Part IV

Supplemental Information

Provide the descriptions required for Part l-A, line 1; Part l-B, line 4; Part l-C, line 5; Part II-A (affiliated group list); Part II-A, lines 1 and 2 (see instructions), and Part ll-B, line 1. Also, complete this part for any additional information.

Return Reference	Explanation
PART II-B, LINE 1G	IN FY 2024, VILLANOVA ENGAGED THREE FIRMS TO PROVIDE LOBBYING SERVICES. THESE SERVICES INCLUDED ADVISEMENT, REPRESENTATION AND ADVOCACY ON BEHALF OF VILLANOVA ON FEDERAL, STATE AND LOCAL LEVELS REGARDING STRATEGIC INITIATIVES.

Schedule C (Form 990) 2022

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.
right arrow

Attach to Form 990.
right arrow

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

OMB No. 1545-0047

2022

Open to Public Inspection

Name of the organization

VILLANOVA UNIVERSITY

Employer identification number

23-1352688

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 July 25, 2006, 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 right arrow

Number of states where property subject to conservation easement is located right arrow

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
right arrow

Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow

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 ......................... right arrow

$ 0

(ii)

Assets included in Form 990, Part X ............................... right arrow

$ 1,832,297

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 .......................... right arrow

Assets included in Form 990, Part X ............................... right arrow

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

Cat. No. 52283D

Schedule D (Form 990) 2022

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 ....	1,194,916,000	1,165,526,000	1,122,560,000	797,015,000	743,061,000
b	Contributions ...	37,181,000	52,064,000	36,064,000	60,066,000	35,744,000
c	Net investment earnings, gains, and losses	147,366,000	31,780,000	53,677,000	308,505,000	57,526,000
d	Grants or scholarships ...	13,482,062	12,203,806	10,724,595	9,446,349	8,714,767
e	Other expenditures for facilities and programs ...	38,652,938	33,513,194	27,425,405	26,080,651	23,456,233
f	Administrative expenses ....	14,295,000	8,737,000	8,625,000	7,499,000	7,145,000
g	End of year balance ......	1,313,033,000	1,194,916,000	1,165,526,000	1,122,560,000	797,015,000

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

Board designated or quasi-endowment right arrow

36.350 %

Permanent endowment right arrow

63.650 %

Term endowment right arrow

0 %

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 .....	24,241,833		24,241,833
b	Buildings ....	1,226,083,833	496,454,154	729,629,679
c	Leasehold improvements
d	Equipment ....	92,539,463	52,836,270	39,703,193
e	Other .....	89,889,180	1,941,485	87,947,695
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..				881,522,400

Schedule D (Form 990) 2022

Page 3

Part VII

Investments - Other 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) HEDGE FUNDS	446,313,377	F
(B) PRIVATE INVESTMENTS	348,718,809	F
(C) DEPOSITS WITH BOND TRUSTEES	10,117,032	F
(C)
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)	805,149,218

Part VIII

Investments - Program 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)CONSTRUCTION FUNDS				216,736,775
(2)OPERATING LEASES - REAL ESTATE				16,774,138
(3)CSV LIFE INSURANCE				3,943,265
(4)OPERATING LEASES - EQUIPMENT				2,060,636
(5)DIFFERENCE IN INVESTMENTS				501,343
(6)INTEREST RECEIVABLE				4,044
(7)LESS: ACCUM DEPR.(EQUIP LEASE)				-982,893
(8)LESS: ACCUM. DEPR. (RE LEASE)				-3,908,732
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........				235,128,576

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
OPERATING LEASE LIABILITIES	14,366,196
REFUNDABLE GOVERNMENT LOANS	4,233,955
DEPOSITS BY STUDENTS	1,328,763






Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)	19,928,914
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) 2022

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	770,665,596
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a	89,281,629
b	Donated services and use of facilities .........	2b	924,790
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ...........	2d	-4,050,557
e	Add lines 2a through 2d .....................			2e	86,155,862
3	Subtract line 2e from line 1..................			3	684,509,734
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	14,752,030
b	Other (Describe in Part XIII.) ...........	4b	177,323,999
c	Add lines 4a and 4b....................			4c	192,076,029
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......			5	876,585,763

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	600,133,000
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
e	Add lines 2a through 2d....................			2e
3	Subtract line 2e from line 1...................			3	600,133,000
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	14,752,030
b	Other (Describe in Part XIII.) ...........	4b	177,323,999
c	Add lines 4a and 4b.....................			4c	192,076,029
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......			5	792,209,029

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 4

THE ART GALLERY HOLDS OVER SIX THOUSAND PIECES OF ARTWORK IN ITS COLLECTION. SUCH ARTWORK IS COMPRISED OF PAINTINGS, SCULPTURES, DRAWINGS, ENGRAVINGS, LITHOGRAPHS, WATERCOLORS, WOODCUTS, MIXED MEDIA, TEXTILES, AND CERAMICS. THE ARTWORK IS HELD ON THE UNIVERSITY'S PREMISES AND AT AN OUTSIDE ART FACILITY. ARTWORK IN THE COLLECTION IS DISPLAYED FOR PUBLIC VIEW AT VARIOUS LOCATIONS ON THE UNIVERSITY CAMPUS. EACH YEAR, THE ART GALLERY PRESENTS A NUMBER OF EXHIBITIONS OF ART BY EMERGING ARTISTS. FOR EACH EXHIBITION THERE IS A RECEPTION FOR THE ARTIST, ALL OF WHICH IS FREE OF CHARGE, AND THE PUBLIC IS INVITED. ALSO, EACH YEAR, THE ART GALLERY HAS HELD OUTREACH PROGRAMS AT WHICH ART EDUCATION IS PROVIDED TO DISADVANTAGED INDIVIDUALS. THE PROGRAMS ARE ALSO FREE OF CHARGE TO THE PARTICIPANTS. PART V, LINE 1F ADMINISTRATIVE FEES REPORTED REPRESENT COMPENSATION AND EXPENSES RELATED TO THE INTERNAL INVESTMENT OFFICE AND FEES PAID TO OUR EXTERNAL INVESTMENT MANAGERS, EXTERNAL INVESTMENT CONSULTANTS, AND OTHER THIRD-PARTY SERVICE PROVIDERS. PART V, LINE 4 THE INTENDED USE OF VILLANOVA UNIVERSITY'S ENDOWMENT FUNDS IS FOR FINANCIAL AID, SUPPORT FOR FACULTY SALARIES, AS WELL AS SUPPORT FOR OTHER SPECIFIC PROGRAMS DIRECTED BY DONORS. PART XI, LINE 2D LOSS ON DECOMMISSIONED FACILITIES $(4,050,557) PART XI, LINE 4B STUDENT FINANCIAL AID $177,323,999 PART XII, LINE 4B STUDENT FINANCIAL AID $177,323,999

Schedule D (Form 990) 2022

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE E(Form 990)

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

Go to www.irs.gov/Form990EZ for the latest information.

OMB No. 1545-0047 2023Open to Public Inspection

Name of the organization

VILLANOVA UNIVERSITY

Employer identification number

23-1352688

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 on its primary publicly accessible Internet homepage at

all times during its taxable year in a manner reasonably expected to be noticed by visitors to the homepage, or through

newspaper or broadcast media during the period of solicitation for students, or during the registration period if it has no

solicitation program, in a way that makes the policy known to all parts of the general community it serves? If "Yes," please

describe. If "No," please explain. If you need more space use Part II. . . . . . . . . . . . . . . . . . .

Does the organization maintain the following?

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

Yes

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

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

Yes

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

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

Yes

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

Yes

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

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

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

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

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

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

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

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

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

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

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

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

Yes

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

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

Does the organization certify that it has complied with the applicable requirements of sections 4.01 through 4.05

of Rev. Proc. 75-50, 1975-2 C.B. 587, as modified by Rev. Proc. 2019-22, 2019-22 I.R.B. 1260, covering racial nondiscrimination? If "No," explain on Part II. . . . . . . . . . . . . . . . . . . . . . . . . .

Yes

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

Cat. No. 50085D

Schedule E (Form 990) (2023)

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

PART I, LINE 3

VILLANOVA UNIVERSITY'S NON-DISCRIMINATION AND NON-HARASSMENT POLICY PROHIBITS, AMONG OTHER THINGS, DISCRIMINATION ON THE BASIS OF RACE AS TO STUDENTS. THE NON-DISCRIMINATION POLICY AND RELATED STATEMENTS ARE DISPLAYED IN MULTIPLE AREAS OF THE UNIVERSITY'S WEBSITE, INCLUDING, BUT NOT LIMITED TO, IN THE UNIVERSITY POLICY LIBRARY, THE HUMAN RESOURCES WEBSITE, VARIOUS COURSE CATALOGS, AND IN THE STUDENT HANDBOOK AND EMPLOYEE/FACULTY HANDBOOKS, ALL OF WHICH ARE PUBLICLY ACCESSIBLE ONLINE. VILLANOVA UNIVERSITY MEETS THE REQUIREMENTS OF SECTIONS 4.01 THROUGH 4.05 OF REV. PROC 75-50, COVERING RACIAL NON-DISCRIMINATION, BECAUSE IT DRAWS A SUBSTANTIAL PERCENTAGE OF ITS STUDENTS FROM AROUND THE U.S. AND WORLD, ENROLLS STUDENTS OF RACIAL MINORITY GROUPS IN MEANINGFUL NUMBERS AND FOLLOWS A RACIALLY NON-DISCRIMINATORY POLICY AS TO STUDENTS. PART I, LINE 6A THE UNIVERSITY RECEIVES FUNDS FROM VARIOUS FEDERAL AND STATE GOVERNMENT AGENCIES UNDER THEIR RESPECTIVE STUDENT FINANCIAL AID ASSISTANCE PROGRAMS. FEDERAL PROGRAMS INCLUDE THE PELL GRANT PROGRAM, SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT PROGRAM, COLLEGE WORK STUDY PROGRAM, AND THE PERKINS AND NURSING LOAN PROGRAMS. THE STATE PROGRAM IS THE PENNSYLVANIA HIGHER EDUCATION ASSISTANCE PROGRAM FOR STUDENTS. IN ADDITION, THE UNIVERSITY IS AWARDED SPONSORED RESEARCH AND OTHER PROJECT GRANTS BY VARIOUS FEDERAL AGENCIES, INCLUDING NSF AND HHS. GENERAL SUPPORT IS PROVIDED TO THE UNIVERSITY FROM THE STATE OF PENNSYLVANIA UNDER ITS INSTITUTIONAL ASSISTANCE GRANT PROGRAM TO PRIVATE COLLEGES AND UNIVERSITIES IN THE STATE.

Schedule E (Form 990) (2023)

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 arrow

Attach to Form 990. Right arrow

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

OMB No. 1545-0047

2023

Open to Public Inspection

Name of the organization
VILLANOVA UNIVERSITY

Employer identification number

23-1352688

Part I

General Information on Activities Outside the United States. Complete if the organization answered "Yes" on 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		(c) Number of employees, agents, and independent contractors in the region	(d) Activities conducted in region (by type) (such as, 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 the region	(f) Total expenditures for and investments in the region
	Central America and the Caribbean	32	Program Services	MINISTRY SVCS, FIN AID	1,148,610
	South Asia	1	Program Services	FINANCIAL AID	62,305
	East Asia and the Pacific	118	Program Services	FA, INTL STDY, MIN SVC	3,464,376
	Europe (Including Iceland and Greenland)	198	Program Services	FA, INTL STDY, RSRCH	9,642,123
	Middle East and North Africa	32	Program Services	FIN AID, INTL STUDY	544,438
	North America	31	Program Services	MS, INTL STDY, RSEARCH	1,155,411
	Russia and the Newly Independent States	12	Program Services	FIN AID, RESEARCH	143,129
	South America	18	Program Services	FIN AID, RESEARCH	473,640
	South Asia	49	Program Services	FINANCIAL AID	1,175,690
	Sub-Saharan Africa	53	Program Services	FA, INTL STDY, RSEARCH	994,701
	Central America and the Caribbean	1	Fundraising		106,052
	Europe (Including Iceland and Greenland)	5	Fundraising		12,488
	North America	1	Fundraising		1,891
	South America	2	Fundraising		4,872
	Sub-Saharan Africa	1	Fundraising		1,378
	Central America and the Caribbean	0	Investments		259,774,387
	East Asia and the Pacific	0	Investments		7,478
	Europe (Including Iceland and Greenland)	0	Investments		33,325,391
	North America	0	Investments		365,715
3a	Sub-total ....	554			278,712,969
b	Total from continuation sheets to Part I ...	0			33,691,106
c	Totals (add lines 3a and 3b)	554			312,404,075

For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) 2023

Schedule F (Form 990) 2023

Page 2

Part II

Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered "Yes" on 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.

(c) Region	(d) Purpose of grant	(e) Amount of cash grant	(f) Manner of cash disbursement	(h) Description of noncash assistance	(i) Method of valuation (book, FMV, appraisal, other)
East Asia and the Pacific	TUITION	57,375	ACH	N/A	N/A
East Asia and the Pacific	TUITION	77,290	ACH	N/A	N/A
East Asia and the Pacific	TUITION	37,369	ACH	N/A	N/A
East Asia and the Pacific	TUITION	12,000	WIRE	N/A	N/A
East Asia and the Pacific	TUITION	170,364	WIRE	N/A	N/A
East Asia and the Pacific	TUITION	21,136	ACH	N/A	N/A
Europe (Including Iceland and Greenland)	TUITION	382,270	ACH	N/A	N/A
Europe (Including Iceland and Greenland)	TUITION	480,875	ACH	N/A	N/A
Europe (Including Iceland and Greenland)	TUITION	117,169	ACH	N/A	N/A
Europe (Including Iceland and Greenland)	TUITION	127,200	ACH	N/A	N/A
Europe (Including Iceland and Greenland)	TUITION	106,000	WIRE	N/A	N/A
Europe (Including Iceland and Greenland)	EXCURSION	99,155	ACH	N/A	N/A
Europe (Including Iceland and Greenland)	EXCURSION	96,336	ACH	N/A	N/A
Europe (Including Iceland and Greenland)	TUITION	1,624,844	ACH	N/A	N/A
Europe (Including Iceland and Greenland)	TUITION	1,179,689	ACH	N/A	N/A
Europe (Including Iceland and Greenland)	TUITION	112,048	WIRE	N/A	N/A
Europe (Including Iceland and Greenland)	TUITION	33,435	ACH	N/A	N/A
Europe (Including Iceland and Greenland)	TUITION	62,819	ACH	N/A	N/A
Europe (Including Iceland and Greenland)	TUITION	19,893	ACH	N/A	N/A
Europe (Including Iceland and Greenland)	TUITION	21,232	ACH	N/A	N/A
Europe (Including Iceland and Greenland)	HOUSING	24,497	PCARD	N/A	N/A
Europe (Including Iceland and Greenland)	MEALS	23,377	WIRE	N/A	N/A
Europe (Including Iceland and Greenland)	TRANSPORTATION	14,678	WIRE	N/A	N/A
Europe (Including Iceland and Greenland)	TRANSPORTATION	8,336	WIRE	N/A	N/A
Europe (Including Iceland and Greenland)	TUITION	67,187	WIRE	N/A	N/A
Europe (Including Iceland and Greenland)	HOUSING	23,259	WIRE	N/A	N/A
Europe (Including Iceland and Greenland)	HOUSING	7,352	WIRE	N/A	N/A
Europe (Including Iceland and Greenland)	HOUSING	5,496	WIRE	N/A	N/A
Middle East and North Africa	TUITION	17,861	ACH	N/A	N/A
Sub-Saharan Africa	TUITION	30,420	ACH	N/A	N/A
East Asia and the Pacific	HOUSING/TUITION	30,600	WIRE	N/A	N/A
Europe (Including Iceland and Greenland)	HOUSING/TUITION	114,775	WIRE	N/A	N/A
Europe (Including Iceland and Greenland)	TUITION	9,780	WIRE	N/A	N/A
Europe (Including Iceland and Greenland)	TUITION	24,356	WIRE	N/A	N/A
Europe (Including Iceland and Greenland)	HOUSING	28,915	WIRE	N/A	N/A
Europe (Including Iceland and Greenland)	HOUSING/TUITION	42,646	WIRE	N/A	N/A
Europe (Including Iceland and Greenland)	TUITION	89,719	WIRE	N/A	N/A
Europe (Including Iceland and Greenland)	HOUSING/TUITION	6,270	ACH	N/A	N/A
Europe (Including Iceland and Greenland)	HOUSING	5,139	WIRE	N/A	N/A
Europe (Including Iceland and Greenland)	HOUSING/TUITION	26,569	WIRE	N/A	N/A
Europe (Including Iceland and Greenland)	HOUSING	11,662	PCARD	N/A	N/A
Europe (Including Iceland and Greenland)	HOUSING	13,200	WIRE	N/A	N/A
Europe (Including Iceland and Greenland)	ACADEMIC	5,175	WIRE	N/A	N/A
North America	ACADEMIC/HOUSING	28,665	ACH	N/A	N/A
Central America and the Caribbean	SUPPLIES/TRAVEL	10,695	CASH	N/A	N/A
North America	HOUSING/TRAVEL	28,192	CREDIT CARD	N/A	N/A
Central America and the Caribbean	TRAVEL	106,052	CREDIT CARD	N/A	N/A
Europe (Including Iceland and Greenland)	TRAVEL	5,093	CASH/CREDIT	N/A	N/A
Europe (Including Iceland and Greenland)	DUES/MEALS	7,395	CREDIT CARD	N/A	N/A

2	Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter .......
3	Enter total number of other organizations or entities .......................	49

Schedule F (Form 990) 2023

Schedule F (Form 990) 2023Page 3

Part III

Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" on 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	(g) Description of noncash assistance	(h) Method of valuation (book, FMV, appraisal, other)
FACULTY ADV/PER DIEM FOR PROGRAM EXP	Europe (Including Iceland and Greenland)	1	6,608	ACH	N/A	N/A
FACULTY ADV/PER DIEM FOR PROGRAM EXP	Europe (Including Iceland and Greenland)	1	20,607	ACH	N/A	N/A
FACULTY ADV/PER DIEM FOR PROGRAM EXP	Europe (Including Iceland and Greenland)	1	12,430	ACH	N/A	N/A
ON-SITE INSTRUCTOR	Europe (Including Iceland and Greenland)	1	58,107	WIRE	N/A	N/A
ON-SITE INSTRUCTOR	Europe (Including Iceland and Greenland)	1	5,623	WIRE	N/A	N/A
ON-SITE INSTRUCTOR	Europe (Including Iceland and Greenland)	1	6,180	ACH	N/A	N/A
FACULTY ADV/PER DIEM FOR PROGRAM EXP	Europe (Including Iceland and Greenland)	1	9,542	ACH	N/A	N/A
ON-SITE INSTRUCTOR	Europe (Including Iceland and Greenland)	1	6,605	ACH	N/A	N/A
FINANCIAL AID	Central America and the Caribbean	32	1,137,915	DIRECT DEP	N/A	N/A
FINANCIAL AID	South Asia	1	62,305	DIRECT DEP	N/A	N/A
FINANCIAL AID	East Asia and the Pacific	114	3,045,663	DIRECT DEP	N/A	N/A
FINANCIAL AID	Europe (Including Iceland and Greenland)	157	4,305,781	DIRECT DEP	N/A	N/A
FINANCIAL AID	Middle East and North Africa	32	526,577	DIRECT DEP	N/A	N/A
FINANCIAL AID	North America	19	893,375	DIRECT DEP	N/A	N/A
FINANCIAL AID	Russia and the Newly Independent States	10	141,029	DIRECT DEP	N/A	N/A
FINANCIAL AID	South America	16	473,030	DIRECT DEP	N/A	N/A
FINANCIAL AID	South Asia	49	1,175,690	DIRECT DEP	N/A	N/A
FINANCIAL AID	Sub-Saharan Africa	48	877,335	DIRECT DEP	N/A	N/A
RESEARCH	Europe (Including Iceland and Greenland)	11	7,571	PCARD	N/A	N/A
RESEARCH	North America	11	204,666	PCARD	N/A	N/A
RESEARCH	Sub-Saharan Africa	5	86,946	PCARD	N/A	N/A

Schedule F (Form 990) 2023

Page 4

Part IV

Foreign Forms

Schedule F (Form 990) 2023

Page 5

Part V

Supplemental Information
Provide the information required by Part I, line 2 (monitoring of funds); Part I, line 3, column (f) (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part III (accounting method); and Part III, column (c) (estimated number of recipients), as applicable. Also complete this part to provide any additional information. See instructions.

ReturnReference	Explanation
PART I, LINE 2	ANY GRANTS AWARDED TO ENTITIES OUTSIDE THE UNITED STATES WOULD BE BASED UPON THE IMPLEMENTATION OF A FUNDED RESEARCH PROPOSAL IN WHICH THE FOREIGN ENTITY WOULD PLAY A SPECIFIC ROLE IN EXECUTING THE FUNDED RESEARCH PROGRAM. ALL REPORTED COSTS ARE DOCUMENTED BY RECEIPT. VILLANOVA UNIVERSITY STUDENTS ARE BILLED BY THE UNIVERSITY FOR THE TOTAL COST OF VU TUITION FOR EACH SEMESTER OVERSEAS. NON-TUITION COSTS SUCH AS ROOM AND BOARD ARE NOT PAID TO VILLANOVA UNIVERSITY, BUT INSTEAD PAID TO THE OVERSEAS UNIVERSITY OR PROGRAM IN WHICH THEY ENROLL. IN MANAGING THE STUDENTS ELIGIBILTY FOR FINANCIAL ASSISTANCE, THE UNIVERSITY DETERMINES ELIGIBILITY FOR NEED-BASED AID ON THE BASIS OF CURRENT FEDERAL REGULATIONS. ONCE THE STUDENT'S ELIGIBILITY FOR AID IS DETERMINED, ALL AWARDS ARE CREDITED TO THE STUDENT'S VILLANOVA BILLING RECORD. ANY DOLLARS THAT ARE AWARDED IN EXCESS OF THE STUDENT'S BILLED EXPENSES, WHICH IS THE CASE WITH STUDENTS STUDYING ABROAD, ARE REFUNDED TO THE STUDENTS SO THAT THEY CAN BE USED TO PAY FOR ALL OTHER APPROVED EDUCATIONAL EXPENSES. THESE INCLUDE TRANSPORTATION, ROOM & BOARD, LIVING EXPENSES AND BOOKS AND SUPPLIES. IN ADDITION TO STUDYING OVERSEAS, VILLANOVA UNIVERSITY STUDENTS ALSO PARTICIPATE IN INTERNATIONAL PUBLIC SERVICE WORK. FUNDS USED FOR THIS PURPOSE ASSIST IN SENDING STUDENTS OVERSEAS AND PAY FOR THEIR TRAVEL, FOOD AND LODGING (IF APPLICABLE) WHILE THEY ARE THERE. PART II, LINE 1 VILLANOVA STUDENTS AND FACULTY TAKE PART IN OVERSEAS EDUCATION. SALARIES ARE PAID TO THE FACULTY WHILE ABROAD. TUITION PAID TO VILLANOVA UNIVERSITY PAYS FOR STUDENTS' TUITION AND LODGING WHILE OVERSEAS.

Schedule F (Form 990) 2023

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE G (Form 990)

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

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

OMB No. 1545-0047

2023

Open to Public Inspection

Name of the organization
VILLANOVA UNIVERSITY

Employer identification number

23-1352688

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 10 highest paid individuals or entities (fundraisers) pursuant to agreements under which the fundraiser is
to be compensated at least $5,000 by the organization.

(i) Name and address of individual or entity (fundraiser)		(ii) Activity	(iii) Did fundraiser have custody or control of contributions?		(v) Amount paid to (or retained by) fundraiser listed in col. (i)	(vi) Amount paid to (or retained by) organization
			Yes	No
	COMMUNITY COUNSELING SVC CO 527 MADISON AVE FL 5 NEW YORK, NY10022	CONSULTING / PLANNING		No	336,079	-336,079
	TRUTH CONSEQUENCES LLC 230 N 2ND STREET 1A PHILADELPHIA, PA19106	CAPITAL CAMPAIGN		No	235,142	-235,142








Total . . . . . . . . . . . . . . . . . . . .					571,221	-571,221

List all states in which the organization is registered or licensed to solicit contributions or has been notified it is exempt from registration or licensing.

AL, AK, AR, CA, CO, CT, FL, GA, HI, IL, KS, KY, LA, ME, MD, MA, MI, MN, MS, MO, NH, NJ, NY, NC, ND, OH, OK, OR, PA, RI, SC, TN, VA, WA, WV, WI

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

Cat. No. 50083H

Schedule G (Form 990) 2023

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 V FOR VINO (event type)	(b) Event #2 GOLF OUTING (event type)	(c) Other events 4 (total number)	(d) Total events (add col. (a) through col. (c))
1	Gross receipts . . . . .	50,165	43,840	104,819	198,824
2	Less: Contributions . . . .	27,844	25,959	68,403	122,206
3	Gross income (line 1 minus line 2) . . . . . .	22,321	17,881	36,416	76,618

4	Cash prizes . . . . .
5	Noncash prizes . . . .
6	Rent/facility costs . . . .
7	Food and beverages . . .
8	Entertainment . . . .
9	Other direct expenses . . .	22,321	17,881	36,416	76,618
10	Direct expense summary. Add lines 4 through 9 in column (d) . . . . . . . . . .				76,618
11	Net income summary. Subtract line 10 from line 3, column (d). . . . . . . . . .

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 . . .

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) 2023

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 provide any additional information. See instructions.

Return Reference	Explanation

Schedule G (Form 990) 2023

Additional Data

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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

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

OMB No. 1545-0047

2023

Open to Public
Inspection

Name of the organization
VILLANOVA UNIVERSITY

Employer identification number
23-1352688

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	(h) Purpose of grant or assistance
(1) CHILDRENS HOSPITAL OF PHILADELPHIA 3401 CIVIC CNTR BLVD PHILADELPHIA,PA19104	23-2237932	501(C)(3)	6,447	SUPPORT
(2) AMERICAN CANCER SOCIETY 1818 MARKET ST PHILADELPHIA,PA19103	13-1788491	501(C)(3)	8,568	SUPPORT
(3) AUGUSTINIAN PROVINCE OF SAINT THOMAS OF VILLANOVA 214 ASHWOOD RD VILLANOVA,PA19085	23-1600614	501(C)(3)	60,000	SUPPORT
(4) GLIDE FUND INC PO BOX 74 BRYN MAWR,PA19010	92-2201369	501(C)(3)	10,000	SUPPORT
(5) VALLEY YOUTH HOUSE 3400 HIGH POINT BLVD BETHLEHEM,PA18017	23-7178820	501(C)(3)	10,000	SUPPORT
(6) POSSE FOUNDATION INC 14 WALL ST 8A NEW YORK,NY10005	13-3840394	501(C)(3)	21,450	SUPPORT

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

Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image

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

Cat. No. 50055P

Schedule I (Form 990) 2023

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 noncash assistance	(e) Method of valuation (book, FMV, appraisal, other)	(f) Description of noncash assistance

(1) FINANCIAL ASSISTANCE	4732	174,335,499	N/A	N/A
(1)
(2)
(3)
(4)
(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

PART I, LINE 2

A STUDENT'S ELIGIBILITY FOR NEED-BASED FINANCIAL AID IS DETERMINED ON THE BASIS OF THEIR ANNUAL COST OF ATTENDANCE, WHICH IS CALCULATED IN ACCORDANCE WITH FEDERAL REGULATIONS, MINUS EXPECTED FAMILY CONTRIBUTION, WHICH IS DETERMINED IN ACCORDANCE WITH FEDERAL REGULATIONS AND UNIVERSITY STANDARDS. IN THE EVENT THAT TOTAL AID AWARDED EXCEEDS DIRECT COSTS (I.E., COSTS THAT ARE BILLED BY THE UNIVERSITY), THE EXCESS FUNDS ARE PROVIDED TO THE STUDENT AND ARE APPLICABLE TO EDUCATIONALLY-RELATED EXPENSES. THE UNIVERSITY DOES NOT REQUIRE THE STUDENT TO PROVIDE PROOF (E.G., RECEIPTS, CANCELLED CHECKS, ETC.) AS TO HOW THE FUNDS WERE USED.

Schedule I (Form 990) 2023

Additional Data

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Schedule J
(Form 990)

Department of the Treasury
Internal Revenue Service

Compensation Information

For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
medium right arrow graphic

Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
medium right arrow graphic

Attach to Form 990.
medium right arrow graphic

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

OMB No. 1545-0047

2023

Open to Public Inspection

Name of the organization

VILLANOVA UNIVERSITY

Employer identification number

23-1352688

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

Yes

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

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 nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............

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

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

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

Cat. No. 50053T

Schedule J (Form 990) 2023

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, 1099-MISC compensation, and/or 1099-NEC			(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)
1MR KYLE A NEPTUNE COACH, MEN'S BASKETBALL	(i) (ii)	545,567 ------------- 0	0 ------------- 0	1,190,991 ------------- 0	128,050 ------------- 0	7,010 ------------- 0	1,871,618 ------------- 0	100,000 ------------- 0
2MR MARK W JACKSON VP & DIRECTOR OF ATHLETICS	(i) (ii)	899,938 ------------- 0	0 ------------- 0	99,507 ------------- 0	121,050 ------------- 0	48,253 ------------- 0	1,168,748 ------------- 0	88,850 ------------- 0
3MR JEROLD T WRIGHT ASSISTANT TO THE PRESIDENT	(i) (ii)	990,420 ------------- 0	0 ------------- 0	7,541 ------------- 0	33,000 ------------- 0	16,350 ------------- 0	1,047,311 ------------- 0	0 ------------- 0
4PATRICK G MAGGITTI PHD PROVOST	(i) (ii)	776,452 ------------- 0	0 ------------- 0	101,254 ------------- 0	332,300 ------------- 0	78,636 ------------- 0	1,288,642 ------------- 0	88,000 ------------- 0
5E MICHAEL ZUBEY JR JD VP & GENERAL COUNSEL	(i) (ii)	623,343 ------------- 0	0 ------------- 0	55,800 ------------- 0	97,463 ------------- 0	70,816 ------------- 0	847,422 ------------- 0	55,800 ------------- 0
6MR ROGER DEMARESKI EXEC VP ADMIN & OPERATIONS	(i) (ii)	660,794 ------------- 0	0 ------------- 0	68,684 ------------- 0	98,050 ------------- 0	16,350 ------------- 0	843,878 ------------- 0	63,600 ------------- 0
7MR SHANE P MCANDREW CHIEF INVESTMENT OFFICER	(i) (ii)	709,568 ------------- 0	0 ------------- 0	0 ------------- 0	228,050 ------------- 0	7,010 ------------- 0	944,628 ------------- 0	0 ------------- 0
8MARK C ALEXANDER JD DEAN/PROF, SCHOOL OF LAW	(i) (ii)	595,722 ------------- 0	0 ------------- 0	0 ------------- 0	78,050 ------------- 0	16,349 ------------- 0	690,121 ------------- 0	50,000 ------------- 0
9MR NEIL J HORGAN VP FOR FINANCE & CFO	(i) (ii)	493,241 ------------- 0	0 ------------- 0	0 ------------- 0	33,000 ------------- 0	144,049 ------------- 0	670,290 ------------- 0	0 ------------- 0
10MS DENISE E DILLON COACH, WOMEN'S BASKETBALL	(i) (ii)	487,522 ------------- 0	57,500 ------------- 0	16,784 ------------- 0	28,050 ------------- 0	8,592 ------------- 0	598,448 ------------- 0	0 ------------- 0
11KEVIN D CLARK PHD PROFESSOR	(i) (ii)	343,436 ------------- 0	0 ------------- 0	162,713 ------------- 0	31,937 ------------- 0	22,089 ------------- 0	560,175 ------------- 0	0 ------------- 0
12JEREMY KEES PHD PROFESSOR	(i) (ii)	329,366 ------------- 0	0 ------------- 0	142,863 ------------- 0	33,000 ------------- 0	22,089 ------------- 0	527,318 ------------- 0	0 ------------- 0
13MR KEVIN NOLLER VP, UNIVERSITY ADVANCEMENT	(i) (ii)	448,544 ------------- 0	0 ------------- 0	6,936 ------------- 0	27,864 ------------- 0	22,177 ------------- 0	505,521 ------------- 0	0 ------------- 0
14MICHELE MARCOLONGO PHD DEAN, COLLEGE OF ENGINEERING	(i) (ii)	460,902 ------------- 0	0 ------------- 0	0 ------------- 0	28,050 ------------- 0	16,349 ------------- 0	505,301 ------------- 0	0 ------------- 0
15ADELE LINDENMEYR PHD DEAN, COLLEGE LIBERAL A&S	(i) (ii)	461,769 ------------- 0	0 ------------- 0	0 ------------- 0	33,000 ------------- 0	7,097 ------------- 0	501,866 ------------- 0	0 ------------- 0
16DONNA S HAVENS PHD RN FAAN DEAN/PROF, COLLEGE OF NURSING	(i) (ii)	419,800 ------------- 0	0 ------------- 0	0 ------------- 0	27,176 ------------- 0	7,252 ------------- 0	454,228 ------------- 0	0 ------------- 0
17MR RAYMOND D DUFFY VP, HR & AFF ACTION OFFICER	(i) (ii)	389,627 ------------- 0	0 ------------- 0	0 ------------- 0	32,546 ------------- 0	22,239 ------------- 0	444,412 ------------- 0	0 ------------- 0
18JOYCE E RUSSELL PHD PROFESSOR	(i) (ii)	411,268 ------------- 0	0 ------------- 0	0 ------------- 0	11,774 ------------- 0	15,478 ------------- 0	438,520 ------------- 0	0 ------------- 0
19WEN MAO PHD DEAN, SCHOOL OF BUSINESS	(i) (ii)	387,638 ------------- 0	0 ------------- 0	0 ------------- 0	30,417 ------------- 0	10,388 ------------- 0	428,443 ------------- 0	0 ------------- 0
20MR ROBERT H MORRO VP, FACILITIES MANAGEMENT	(i) (ii)	365,059 ------------- 0	0 ------------- 0	0 ------------- 0	31,793 ------------- 0	730 ------------- 0	397,582 ------------- 0	0 ------------- 0
21MS ANN E DIEBOLD VP, UNIVERSITY COMMUNICATIONS	(i) (ii)	334,258 ------------- 0	0 ------------- 0	0 ------------- 0	33,000 ------------- 0	7,010 ------------- 0	374,268 ------------- 0	0 ------------- 0
22CRAIG M WHEELAND PHD SR VICE PROVOST, ACADEMICS	(i) (ii)	319,250 ------------- 0	0 ------------- 0	0 ------------- 0	32,646 ------------- 0	22,089 ------------- 0	373,985 ------------- 0	0 ------------- 0
23MR J LEON WASHINGTON DEAN, ENROLLMENT MANAGEMENT	(i) (ii)	345,926 ------------- 0	0 ------------- 0	0 ------------- 0	26,849 ------------- 0	604 ------------- 0	373,379 ------------- 0	0 ------------- 0
24RANDY D WEINSTEIN PHD VP, TEACHING & LEARNING	(i) (ii)	297,870 ------------- 0	0 ------------- 0	21,255 ------------- 0	30,002 ------------- 0	9,252 ------------- 0	358,379 ------------- 0	0 ------------- 0
25MR MICHAEL J O'NEILL SR VP, UNIV ADVANCEMENT	(i) (ii)	0 ------------- 0	0 ------------- 0	288,081 ------------- 0	0 ------------- 0	63,806 ------------- 0	351,887 ------------- 0	288,081 ------------- 0
26CHRISTINE K PALUS PHD DEAN, COLLEGE OF PROF STUDIES	(i) (ii)	318,342 ------------- 0	0 ------------- 0	2,000 ------------- 0	30,754 ------------- 0	0 ------------- 0	351,096 ------------- 0	0 ------------- 0
27TERESA A NANCE PHD VP, DVSTY/INCLSN AND CDO	(i) (ii)	261,898 ------------- 0	0 ------------- 0	400 ------------- 0	26,875 ------------- 0	11,752 ------------- 0	300,925 ------------- 0	0 ------------- 0
28MR ANTHONY N ALFANO ASSOC VP, AUXILIARY SERVICES	(i) (ii)	255,264 ------------- 0	0 ------------- 0	0 ------------- 0	25,880 ------------- 0	16,543 ------------- 0	297,687 ------------- 0	0 ------------- 0
29MS KELLY P DONEY VP TECH & CHIEF INFO OFFICER	(i) (ii)	226,455 ------------- 0	0 ------------- 0	0 ------------- 0	19,354 ------------- 0	4,388 ------------- 0	250,197 ------------- 0	0 ------------- 0
30KATHLEEN J BYRNES JD VP, STUDENT LIFE	(i) (ii)	324,620 ------------- 0	0 ------------- 0	1,250 ------------- 0	23,879 ------------- 0	8,984 ------------- 0	358,733 ------------- 0	0 ------------- 0

Schedule J (Form 990) 2023

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

VILLANOVA UNIVERSITY PROVIDES TRAVEL FOR COMPANION, FIRST CLASS TRAVEL AND SOCIAL CLUB DUES TO CERTAIN INDIVIDUALS LISTED ON SCHEDULE J. THE SOCIAL CLUB MEMBERSHIPS ARE INTENDED FOR BUSINESS USE. FIRST CLASS TRAVEL IS REVIEWED AND REIMBURSED ACCORDING TO THE ACCOUNTABLE PLAN RULES. TRAVEL FOR COMPANIONS WAS REVIEWED FOR BUSINESS PURPOSE AND REIMBURSED UNDER THE ACCOUNTABLE PLAN RULES. SCHEDULE J, PART I, LINE 4A A SEVERANCE PAYMENT WAS MADE TO MR. MICHAEL O'NEILL, IN THE AMOUNT OF $288,081.

PART II

COMPENSATION FOR KYLE A. NEPTUNE INCLUDES PAYMENTS FOR COACHING VILLANOVA'S BASKETBALL TEAM, WEEKLY RADIO APPEARANCES, AND TELEVISION APPEARANCES.

Schedule J (Form 990) 2023

Additional Data

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- TIN:

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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 Ⅵ, line 24a. Provide descriptions,
explanations, and any additional information in Part Ⅵ.
Attach to Form 990.
Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2023

Open to Public
Inspection

Name of the organization
VILLANOVA UNIVERSITY

Employer identification number
23-1352688

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	DELAWARE COUNTY AUTHORITY	23-1973437	246008NM4	08-20-2014	61,045,730	REFUNDING OF 2005 & 2006 SERIES		X		X		X
B	DELAWARE COUNTY AUTHORITY	23-1973437	245913LV8	10-01-2015	151,040,738	LANCASTER AVENUE PROJECT		X		X		X
C	DELAWARE COUNTY AUTHORITY	23-1973437	246008PG5	09-27-2016	56,071,278	REFUNDING OF 2010 SERIES		X		X		X
D	PA ECONOMIC DVLP FINANCING AUTHORITY	38-3849352	70869PQC4	04-04-2024	236,646,179	NEW LIBRARY & CABRINI ACQUISITION		X		X		X

Part Ⅱ

Proceeds

	A		B		C		D
	1 Amount of bonds retired ..................	50,062,431		15,201,296		18,257,966		0
2 Amount of bonds legally defeased ..............	0		0		0		0
3 Total proceeds of issue ..................	61,045,730		151,040,738		56,071,278		236,646,179
4 Gross proceeds in reserve funds .............	0		0		0		0
5 Capitalized interest from proceeds .............	0		17,247,878		0		0
6 Proceeds in refunding escrows ...............	0		0		0		0
7 Issuance costs from proceeds ...............	258,100		324,930		253,450		1,811,071
8 Credit enhancement from proceeds .............	0		0		0		0
9 Working capital expenditures from proceeds .............	0		0		0		0
10 Capital expenditures from proceeds .............	0		133,467,930		0		0
11 Other spent proceeds .............	60,787,630		0		55,817,828		0
12 Other unspent proceeds .............	0		0		0		0
13 Year of substantial completion .............	2014		2019		2016
	Yes	No	Yes	No	Yes	No	Yes	No
14 Were the bonds issued as part of a current refunding issue of tax-exempt bonds (or, if issued prior to 2020, a current refunding issue)? ........	X			X	X		X
15 Were the bonds issued as part of an advance refunding issue of taxable bonds (or, if issued prior to 2020, 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

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

Cat. No. 50193E

Schedule K (Form 990) 2023

Page 2

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
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
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 ....	0.030 %		0.130 %		0.040 %		0 %
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government .........	0 %		0 %		0 %		0 %
6 Total of lines 4 and 5 .............	0.030 %		0.130 %		0.040 %		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? .............		X		X		X		X
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under Regulations sections 1.141-12 and 1.145-2? ........	X		X		X		X

Part Ⅳ

Arbitrage

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
1 Has the issuer filed Form 8038-T, 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
b Exception to rebate? ........	X				X
c No rebate due? .........			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

Schedule K (Form 990) 2023

Page 3

Part Ⅳ

Arbitrage (Continued)

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?		X		X		X		X
b Name of provider ..........	0		0		0		0
c Term of hedge .........
d Was the hedge superintegrated? ......
e Was the hedge terminated? ........
5a Were gross proceeds invested in a guaranteed investment contract (GIC)?		X		X		X		X
b Name of provider ..........	0		0		0		0
c Term of GIC .........
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? ........
6 Were any gross proceeds invested beyond an available temporary period?		X		X		X		X
7 Has the organization established written procedures to monitor the requirements of section 148? ...	X		X		X		X

Part Ⅴ

Procedures To Undertake Corrective Action

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations?	X		X		X		X

Part Ⅵ

Supplemental Information. Provide additional information for responses to questions on Schedule K. (See instructions).

Return Reference

Explanation

PART V

PROCEDURE TO TAKE CORRECTIVE ACTION PURPOSE: IT IS THE UNIVERSITY'S INTENT TO COMPLY WITH ALL POST ISSUANCE COMPLIANCE REQUIREMENTS. IN THIS REGARD, THE UNIVERSITY HAS ADOPTED ONGOING TRACKING AND MONITORING PROCEDURES TO ENSURE THAT ALL TAX EXEMPT BONDS REMAIN QUALIFIED AND ARE HELD IN COMPLIANCE WITH REGULATORY STANDARDS. SUCH MONITORING IS ALSO INTENDED TO ENSURE THAT ANY ACTUAL OR POTENTIAL VIOLATIONS OF FEDERAL TAX REQUIREMENTS CAN BE TIMELY IDENTIFIED AND CORRECTED VIA SELF-REMEDIATION OR THROUGH INTERNAL REVENUE SERVICE ("IRS") VOLUNTARY CLOSING AGREEMENT PROGRAM, IF SELF-REMEDIATION IS NOT AVAILABLE UNDER APPLICABLE IRS REGULATIONS. PROCEDURE: IF AT ANY TIME, THROUGH THE APPLICATION OF POST ISSUANCE COMPLIANCE POLICIES AND PROCEDURES, THE UNIVERSITY OFFICE OF FINANCIAL AFFAIRS IDENTIFIES THAT IT HAS FAILED TO COMPLY WITH ANY TAX-EXEMPT BOND REQUIREMENTS, THEY WILL CONSULT WITH INTERNAL AND/OR EXTERNAL COUNSEL AND ADVISORS TO FIRST DETERMINE WHETHER SELF-REMEDIATION IS AVAILABLE. IF SELF REMEDIATION IS NOT AVAILABLE, THEN A VOLUNTARY CLOSING AGREEMENT WILL BE PURSUED BY THE IRS. PART IV, LINE 2C THE REBATE COMPUTATION FOR BOND C WAS PERFORMED ON 11/15/2019.

Schedule K (Form 990) 2023

Additional Data

Software ID:
Software Version:

- TIN:

Schedule L
(Form 990)

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.
Attach to Form 990 or Form 990-EZ.
Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2023

Open to Public Inspection

Name of the organization

VILLANOVA UNIVERSITY

Employer identification number

23-1352688

Part I

Excess Benefit Transactions (section 501(c)(3), section 501(c)(4), and section 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 the organization managers or disqualified persons during the year under section 4958. ........................... $

Enter the amount of tax, if any, on line 2, above, reimbursed by the organization ........ $

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




Total ............... $

Part III

Grants or Assistance Benefiting Interested Persons.
Complete if the organization answered "Yes" on Form 990, Part IV, line 27.

(a) Name of interested person	(b) Relationship between interested person and the organization	(c) Amount of assistance	(d) Type of assistance	(e) Purpose of assistance

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

Cat. No. 50056A

Schedule L (Form 990) 2023

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) ANNE MINICOZZI	FAMILY OF KEY EMPLOYEE	13,110	SEE PART V		No
(2) JANE WARD VOEGELE	FAMILY OF TRUSTEE	102,060	SEE PART V		No
(3) JULIANA STUDER	FAMILY OF AN OFFICER	73,330	SEE PART V		No
(4) MARYALICE MORRO	FAMILY OF AN OFFICER	21,375	SEE PART V		No

Part V

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

Return Reference	Explanation
PART IV	ANNE MINICOZZI, JANE WARD VOEGELE, JULIANA STUDER, AND MARYALICE MORRO ARE EMPLOYEES OF THE UNIVERSITY AND RECEIVE COMPENSATION.

Schedule L (Form 990) 2023

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

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

OMB No. 1545-0047

2023

Open to Public Inspection

Name of the organization

VILLANOVA UNIVERSITY

Employer identification number

23-1352688

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 ....
2 Art—Historical treasures .
3 Art—Fractional interests ..
4 Books and publications ..
5 Clothing and household goods .......
6 Cars and other vehicles ..
7 Boats and planes ....
8 Intellectual property ...
9 Securities—Publicly traded .	X	126	18,241,382	FAIR MARKET VALUE
10 Securities—Closely held stock .
11 Securities—Partnership, LLC, or trust interests ....
12 Securities—Miscellaneous ..
13 Qualified conservation contribution—Historic structures .....
14 Qualified conservation contribution—Other ...
15 Real estate—Residential .
16 Real estate—Commercial ..
17 Real estate—Other ...
18 Collectibles .....
19 Food inventory ...	X	4	26,329	FAIR MARKET VALUE
20 Drugs and medical supplies .	X	1	38,000	FAIR MARKET VALUE
21 Taxidermy ......
22 Historical artifacts ....
23 Scientific specimens ..
24 Archeological artifacts ...
25 Other ( EQUIPMENT )	X	1	15,000	FAIR MARKET VALUE
26 Other ( )
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

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 isn't 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 nonstandard contributions?

Yes

32a

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

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

32a

If "Yes," describe in Part II.

If the organization didn't 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) (2023)

Page 2

Part IISupplemental 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)	THE AMOUNTS REPORTED IN PART I, COLUMN (B) REPRESENT THE NUMBER OF ITEMS CONTRIBUTED.

Schedule M (Form 990) (2023)

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE O
(Form 990)

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.
Attach to Form 990 or 990-EZ.
Go to www.irs.gov/Form990 for the latest information.

OMB No. 1545-0047

2023

Open to Public
Inspection

Name of the organization

VILLANOVA UNIVERSITY

Employer identification number

23-1352688

Return Reference	Explanation
FORM 990, PART I, LINE 6	THE TOTAL NUMBER OF VOLUNTEERS IS BASED UPON A REPORTED COUNT OF INDIVIDUALS (FACULTY, STAFF, STUDENTS, ALUMNI, AND OTHERS) WHO HAVE ACTIVELY PARTICIPATED IN ONE OR MORE PROJECTS THROUGHOUT THE FISCAL YEAR. IN WHICH CASE, EACH OF THEIR ACTIVITIES WOULD BE COUNTED SEPARATELY IN THE TOTAL REPORTED.
FORM 990, PART III, LINE 4D	OTHER PROGRAM SERVICES: OTHER PROGRAM SERVICES INCLUDE REVENUE AND EXPENDITURES FOR RESEARCH, ACADEMIC SUPPORT, STUDENT SERVICES (ATHLETICS, ADMISSIONS, REGISTRAR SERVICES, CAREER SERVICES, STUDENT ACTIVITIES, CAMPUS MINISTRY), INSTITUTIONAL SUPPORT, AND OPERATIONS AND MAINTENANCE OF PLANT.
FORM 990, PART VI, LINE 2	BOB MORAN AND PATRICK MAGGITTI HAVE A BUSINESS RELATIONSHIP.
FORM 990, PART VI, LINE 11B	THE FORM 990 IS PREPARED INTERNALLY BY THE OFFICE OF FINANCIAL AFFAIRS. IT IS REVIEWED BY THE OFFICE OF THE VICE PRESIDENT AND GENERAL COUNSEL AND A NATIONALLY RECOGNIZED PUBLIC ACCOUNTING FIRM BEFORE BEING FILED. AFTER THE PUBLIC ACCOUNTING FIRM REVIEWS THE FORM, IT IS PROVIDED TO THE STEWARDSHIP COMMITTEE OF THE BOARD OF TRUSTEES AND TO THE FULL BOARD OF TRUSTEES SHORTLY BEFORE FILING.
FORM 990, PART VI, LINE 12C	THE BOARD OF TRUSTEES, IN COLLABORATION WITH THE OFFICE OF THE VICE PRESIDENT AND GENERAL COUNSEL (OVPGC), REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE UNIVERSITY'S CONFLICT OF INTEREST POLICY. IN ACCORDANCE WITH THE POLICY, THE OVPGC DISTRIBUTES THE POLICY AND CONFLICT OF INTEREST DISCLOSURE FORMS ANNUALLY TO TRUSTEES, OFFICERS, KEY EMPLOYEES, AND ANY OTHER INTERESTED PERSONS WHO ARE INSTRUCTED TO COMPLETE AND RETURN THE FORMS AND TO UPDATE THE FORMS DURING THE YEAR, AS NECESSARY. THE OVPGC SUMMARIZES ANY POTENTIAL CONFLICTS, FOR REVIEW BY THE TRUSTEE COMMITTEE, TO ENSURE COMPLIANCE WITH THE POLICY. THE TRUSTEE COMMITTEE DISCUSSES THE DISCLOSURES AT THE MEETING WHICH INCLUDES THE COMMITTEE MEMBERS AND THE OVPGC. THE UNIVERSITY'S EXTERNAL AUDITORS ALSO REVIEW A SAMPLE OF THE DISCLOSURE FORMS AS PART OF THEIR AUDIT PROCEDURES.
FORM 990, PART VI, LINE 15	THE HUMAN RESOURCES OFFICE OBTAINS COMPARABILITY DATA FROM PROFESSIONAL ORGANIZATIONS FOR THE COMPENSATION OF THE OFFICERS AND KEY EMPLOYEES OF THE UNIVERSITY, INCLUDING THE AMOUNT THE UNIVERSITY REMITS TO THE ORDER OF ST. AUGUSTINE FOR SERVICES PROVIDED BY THE PRESIDENT AND OTHER OFFICERS WHO ARE MEMBERS OF THE ORDER. USING THIS COMPENSATION DATA AND ANNUAL PERFORMANCE ASSESSMENTS, THE PRESIDENT ANNUALLY DETERMINES PROPOSED SALARIES FOR ALL OFFICERS AND KEY EMPLOYEES. THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD, AN INDEPENDENT COMMITTEE CONSISTING OF TRUSTEES ONLY, NONE OF WHOM ARE EMPLOYED BY THE UNIVERSITY, DETERMINES THE AMOUNT THE UNIVERSITY REMITS TO THE ORDER OF ST. AUGUSTINE FOR SERVICES PROVIDED BY THE PRESIDENT, BASED ON THE COMPARABILITY DATA PROVIDED BY THE HUMAN RESOURCES OFFICE AND ITS ASSESSMENT OF THE PRESIDENT'S PERFORMANCE. THE PRESIDENT DOES NOT PARTICIPATE IN THE APPROVAL OF HIS OWN SALARY. THE COMMITTEE ALSO REVIEWS AND APPROVES THE SALARIES PROPOSED BY THE PRESIDENT FOR THE OFFICERS AND KEY EMPLOYEES, AS WELL AS THE PAYMENTS TO THE ORDER OF ST. AUGUSTINE FOR OFFICERS WHO ARE MEMBERS OF THE ORDER. THE DECISIONS REACHED BY THE EXECUTIVE COMPENSATION COMMITTEE AT ITS ANNUAL MEETINGS ARE RECORDED IN A DOCUMENT APPROVED BY THE CHAIR OF THE COMMITTEE AT OR SHORTLY AFTER THE MEETING OF THE COMMITTEE.
FORM 990, PART VI, LINE 19	VILLANOVA UNIVERSITY MAKES ITS FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY READILY AVAILABLE TO THE PUBLIC THROUGH THE UNIVERSITY'S WEBSITE. THE FORM 990 IS AVAILABLE TO THE PUBLIC UPON REQUEST. THE UNIVERSITY'S GOVERNING DOCUMENTS ARE NOT MADE PUBLICLY AVAILABLE.
FORM 990, PART VII	PAYMENT IS MADE DIRECTLY TO THE ORDER OF ST. AUGUSTINE FOR SERVICES PROVIDED BY AUGUSTINIANS AND AUGUSTINIAN OFFICERS OF VILLANOVA UNIVERSITY. THESE PAYMENTS, AGGREGATED, TOTAL $3,041,146.
FORM 990, PART X	CERTAIN PRIOR YEAR BALANCES HAVE BEEN RESTATED TO CONFORM TO THE CURRENT YEAR PRESENTATION.
FORM 990, PART XI, LINE 9	LOSS ON DECOMMISSIONED FACILITIES ($4,050,557) TOTAL: ($4,050,557)

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

Cat. No. 51056K

Schedule O (Form 990) 2023

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.
Attach to Form 990.
Go to www.irs.gov/Form990 for instructions and the latest information.

OMB No. 1545-0047

2023

Open to Public Inspection

Name of the organization

VILLANOVA UNIVERSITY

Employer identification number

23-1352688

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)	(f) Direct controlling entity
(1) ALDWYN LANE LLC 800 LANCASTER AVENUE VILLANOVA,PA19085 23-3101680	DORMANT	PA	NA

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 ENLIGHTENED WORLD FOUNDATION 100 FOUR FALLS CORPORATE CTR W CONSHOHOCKEN,PA19428 23-2830237	FOUNDATION	PA	501(c)(3)	509(A)(3)	NA		No

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

Cat. No. 50135Y

Schedule R (Form 990) 2023

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	(k) Percentage ownership
(1) ALDWYN LANE LP 800 LANCASTER AVE VILLANOVA,PA190851676 23-3101682	DORMANT	PA	NA	RELATED				No	0	Yes		99.000 %
(2) VILLANOVA PRIVATE ASSETS FUND LP 277 PARK AVE NEW YORK,NY10172 23-1352688	INVESTMENTS	NY	NA	UNRELATED	7,941,794	43,491,178		No	0	Yes		98.750 %

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	(h) Percentage ownership	Yes	No
(1) CHARITABLE REMAINDER TRUSTS (11)	VARIOUS	PA	VILLANOVA UNIV						No

Schedule R (Form 990) 2023

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

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
(1) VILLANOVA PRIVATE ASSETS FUND LP	B	1,210,873	FMV
(2) VILLANOVA PRIVATE ASSETS FUND LP	C	13,684,769	FMV

Schedule R (Form 990) 2023

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?		(k) Percentage ownership
(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	(k) Percentage ownership

Schedule R (Form 990) 2023

Page 5

Part VII

Supplemental Information

Provide additional information for responses to questions on Schedule R. See instructions.

Return Reference	Explanation
PART IV	VILLANOVA UNIVERSITY MANAGES TWENTY-SIX CHARITABLE GIFT ANNUITIES, FOR WHICH WE HAVE A 50% OR GREATER INTEREST IN NINETEEN OF THEM. THE AGGREGATE MARKET VALUE IS $1,198,787. VILLANOVA UNIVERSITY IS THE TRUSTEE FOR ELEVEN CHARITABLE REMAINDER TRUSTS, FOR WHICH WE HAVE A 50% OR GREATER INTEREST IN EIGHT OF THEM. THE AGGREGATE MARKET VALUE IS $2,649,350.

Schedule R (Form 990) 2023

Additional Data

Software ID:
Software Version:

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; don't file with Form 990). . . . . . . . . . . . . . . . . . . . . . . .	Yes	No
3	Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be required to file Form 5471, Information Return of U.S. Persons with Respect to Certain Foreign Corporations. (see Instructions for Form 5471). . . . . . . . . . . . . . . . . . . . . . . . . . . .	Yes	No
4	Was the organization a direct or indirect shareholder of a passive foreign investment company or a qualified electing fund during the tax year? If “Yes,” the organization may be required to file Form 8621, Information Return by a Shareholder of a Passive Foreign Investment Company or Qualified Electing Fund. (see Instructions for Form 8621) .	Yes	No
5	Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be required to file Form 8865, Return of U.S. Persons with Respect to Certain Foreign Partnerships (see Instructions for Form 8865). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .	Yes	No
6	Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be required to separately file Form 5713, International Boycott Report (see Instructions for Form 5713; don't file with Form 990).. . . . . . . . . . . . . . . . . . . . . . . . . . . .	Yes	No