TY 2024 Form 990

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)	(E) Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC)
(1) MELISSA L GILLIAM...................................................................... PRESIDENT (AS OF 7/1/24)	55.00 ................. 1.00	X	X	1,350,089	354,211
(2) KEVIN E SMITH...................................................................... TRUSTEE & PROFESSOR	55.00 ................. 0.00	X		231,946	37,973
(3) MAUREEN ALPHONSE-CHARLES...................................................................... TRUSTEE	3.00 ................. 0.00	X		0	0
(4) THOMAS J BICKERTON...................................................................... TRUSTEE (AS OF 9/26/24)	3.00 ................. 0.00	X		0	0
(5) CASSANDRA M CLAY...................................................................... TRUSTEE	3.00 ................. 0.00	X		0	0
(6) CYNTHIA R COHEN...................................................................... TRUSTEE	3.00 ................. 0.00	X		0	0
(7) JOHN D COURIS...................................................................... TRUSTEE (AS OF 9/26/24)	3.00 ................. 0.00	X		0	0
(8) SHAMIM A DAHOD...................................................................... TRUSTEE	3.00 ................. 0.00	X		0	0
(9) NATHANIEL DALTON...................................................................... TRUSTEE	3.00 ................. 0.00	X		0	0
(10) AHMASS L FAKAHANY...................................................................... TRUSTEE	3.00 ................. 0.00	X		0	0
(11) MAURICE R FERRE...................................................................... TRUSTEE	3.00 ................. 0.00	X		0	0
(12) SANDRA A FRAZIER...................................................................... TRUSTEE	3.00 ................. 0.00	X		0	0
(13) MICHAEL D FRICKLAS...................................................................... TRUSTEE	3.00 ................. 0.00	X		0	0
(14) RYAN K ROTH GALLO...................................................................... TRUSTEE	3.00 ................. 0.00	X		0	0
(15) RICHARD C GODFREY...................................................................... TRUSTEE	3.00 ................. 0.00	X		0	0
(16) ANTONIO G GOMES...................................................................... TRUSTEE	3.00 ................. 0.00	X		0	0
(17) CAROLYN HESSLER-RADELET...................................................................... TRUSTEE (UNTIL 8/20/24)	3.00 ................. 0.00	X		0	0

(A) Name and title	(B) Average hours per week (list any hours for related organizations below dotted line)	(C) Position (do not check more than one box, unless person is both an officer and a director/trustee)	(E) Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC)	(F) Estimated amount of other compensation from the organization and related organizations
(18) RAJEN A KILACHAND........................................................................ TRUSTEE (UNTIL 9/26/24)	3.00 .......................0.00	X					0	0	0
(19) RANCH C KIMBALL........................................................................ TRUSTEE	3.00 .......................0.00	X					0	0	0
(20) ANTOINETTE R LEATHERBERRY........................................................................ TRUSTEE	3.00 .......................0.00	X					0	0	0
(21) KENNETH LIN........................................................................ TRUSTEE	3.00 .......................0.00	X					0	0	0
(22) JOSEPH LOSCALZO........................................................................ TRUSTEE	3.00 .......................0.00	X					0	0	0
(23) KEVIN MERIDA........................................................................ TRUSTEE	3.00 .......................0.00	X					0	0	0
(24) RUTH A MOORMAN........................................................................ TRUSTEE	3.00 .......................0.00	X					0	0	0
(25) ALICIA C MULLEN........................................................................ TRUSTEE	3.00 .......................0.00	X					0	0	0
(26) ERIC D MULLER........................................................................ TRUSTEE (AS OF 9/26/24)	3.00 .......................0.00	X					0	0	0
(27) REBECCA NORLANDER........................................................................ TRUSTEE	3.00 .......................0.00	X					0	0	0
(28) JONATHAN PRIESTER........................................................................ TRUSTEE	3.00 .......................0.00	X					0	0	0
(29) SD SHIBULAL........................................................................ TRUSTEE	3.00 .......................0.00	X					0	0	0
(30) HUGO X SHONG........................................................................ TRUSTEE	3.00 .......................0.00	X					0	0	0
(31) KENNETH Z SLATER........................................................................ TRUSTEE	3.00 .......................0.00	X					0	0	0
(32) MALEK SUKKAR........................................................................ TRUSTEE	3.00 .......................0.00	X					0	0	0
(33) NINA C TASSLER........................................................................ TRUSTEE (AS OF 9/26/24)	3.00 .......................0.00	X					0	0	0
(34) ELIZABETH C THORS........................................................................ TRUSTEE	3.00 .......................0.00	X					0	0	0
(35) LISA WENDT........................................................................ TRUSTEE (AS OF 9/26/24)	3.00 .......................0.00	X					0	0	0
(36) PETER L WEXLER........................................................................ TRUSTEE	3.00 .......................0.00	X					0	0	0
(37) STEPHEN M ZIDE........................................................................ TRUSTEE (UNTIL 9/26/24)	3.00 .......................0.00	X					0	0	0
(38) ERIKA GEETTER........................................................................ SR VP, GEN COUNSEL, SECRETARY	55.00 .......................0.00		X				798,491	0	42,915
(39) NICOLE K TIRELLA........................................................................ SR VP, CFO, & TREASURER	55.00 .......................1.00		X				507,871	0	62,664
(40) KAREN H ANTMAN MD........................................................................ MED. CAMPUS PROVOST (UNTIL 6/30/25)	55.00 .......................4.00			X			1,097,104	0	54,996
(41) DEREK HOWE........................................................................ SR VP OPS, ASSISTANT TREASURER	55.00 .......................1.00			X			619,475	0	64,364
(42) KENNETH R LUTCHEN........................................................................ INT UNI PROV (7/1/23-6/30/24) & PROF	55.00 .......................0.00			X			792,361	0	80,830
(43) GLORIA WATERS........................................................................ UNIVERSITY PROVOST (AS OF 7/1/24)	55.00 .......................0.00			X			714,823	0	42,082
(44) XINNING LI........................................................................ PROFESSOR & PHYSICIAN	0.00 .......................55.00				X		0	1,330,643	68,242
(45) WILLIAM CREEVY........................................................................ PROFESSOR & PHYSICIAN	0.00 .......................55.00				X		0	1,226,917	71,605
(46) PUSHKAR MEHRA........................................................................ PROFESSOR & ORAL SURGEON	55.00 .......................0.00				X		1,517,272	0	74,483
(47) CLARISSA C HUNNEWELL........................................................................ CHIEF INVESTMENT OFFICER	55.00 .......................0.00				X		1,521,326	0	63,013
(48) CHADI TANNOURY........................................................................ PROFESSOR & PHYSICIAN	0.00 .......................55.00				X		0	1,376,064	61,326
(49) GARY W NICKSA FMR SR VP CFO........................................................................ TREAS (UNTIL 12/31/23)& CONS TO PRESIDENT	55.00 .......................0.00					X	751,045	0	70,656
(50) ROBERT A BROWN........................................................................ FMR PRESIDENT (UNTIL 7/31/23) & PROF	55.00 .......................0.00					X	1,007,277	0	65,679
(51) JEAN MORRISON........................................................................ FMR UNI PROV (UNTIL 6/30/23) & PROF	55.00 .......................0.00					X	850,827	0	69,991
(52) KENNETH W FREEMAN........................................................................ FMR INT PRES (8/1/23-6/30/24) & PROF	55.00 .......................0.00					X	1,094,978	0	85,502

(A) Name and business address	(B) Description of services	(C) Compensation
ARAMARK FOOD AND SUPPORT SERVICES INC 775 COMMONWEALTH AVENUE BOSTON,MA02115	FOOD & HOSPITALITY	24,550,441
SHAWMUT WOODWORKING & SUPPLY INC 560 HARRISON AVENUE BOSTON,MA02118	CONSTRUCTION	16,414,481
TURNER CONSTRUCTION COMPANY 2 SEAPORT LANE SUITE 200 BOSTON,MA02210	CONSTRUCTION	11,847,622
DELOITTE 4022 SELLS DRIVE HERMITAGE,TN37076	CONSULTING	9,588,818
COMMODORE BUILDERS LLC 404 WYMAN STREET SUITE 400 WALTHAM,MA02451	CONSTRUCTION	8,455,778
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 407

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

OMB No. 1545-0047

2024

Open to Public
Inspection

Name of the organization

TRUSTEES OF BOSTON UNIVERSITY

Employer identification number

04-2103547

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) 2024

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) 2020	(b) 2021	(c) 2022	(d) 2023	(e) 2024	(f) Total
1	Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grant.") ..	671,730,194	752,663,973	838,648,817	709,188,163	783,991,107	3,756,222,254
2	Tax revenues levied for the organization's benefit and either paid to or expended on its behalf ....
3	The value of services or facilities furnished by a governmental unit to the organization without charge..
4	Total. Add lines 1 through 3	671,730,194	752,663,973	838,648,817	709,188,163	783,991,107	3,756,222,254
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) ..						68,387,369
6	Public support. Subtract line 5 from line 4.						3,687,834,885

Section B. Total Support

Calendar year (or fiscal year beginning in)		(a) 2020	(b) 2021	(c) 2022	(d) 2023	(e) 2024	(f) Total
7	Amounts from line 4..	671,730,194	752,663,973	838,648,817	709,188,163	783,991,107	3,756,222,254
8	Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources...	44,974,798	51,037,723	78,094,116	101,791,764	97,333,271	373,231,672
9	Net income from unrelated business activities, whether or not the business is regularly carried on..		4,672,170	3,902,235	6,642,090	6,400,602	21,617,097
10	Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.)..
11	Total support. Add lines 7 through 10						4,151,071,023

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

11,269,559,650

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 2024 (line 6, column (f) divided by line 11, column (f)) .........

88.840 %

Public support percentage for 2023 Schedule A, Part II, line 14 ...............

88.860 %

16a

33 1/3% support test—2024. 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—2023. 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—2024. 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—2023. 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) 2024

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) 2020	(b) 2021	(c) 2022	(d) 2023	(e) 2024	(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) 2020	(b) 2021	(c) 2022	(d) 2023	(e) 2024	(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 2024 (line 8, column (f) divided by line 13, column (f)) .........

Public support percentage from 2023 Schedule A, Part III, line 15 ...............

Section D. Computation of Investment Income Percentage

Investment income percentage for 2024 (line 10c, column (f) divided by line 13, column (f)) ......

Investment income percentage from 2023 Schedule A, Part III, line 17 .............

19a

33 1/3% support tests-2024. 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—2023. 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) 2024

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) 2024

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) 2024

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) 2024

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 2024 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-2024	(iii) Distributable Amount for 2024
1 Distributable amount for 2024 from Section C, line 6
2 Underdistributions, if any, for years prior to 2024 (reasonable cause required-- explain in Part VI). See instructions.
3 Excess distributions carryover, if any, to 2024:
a From 2019.......
b From 2020.......
c From 2021.......
d From 2022.......
e From 2023.......
fTotal of lines 3a through e
g Applied to underdistributions of prior years
h Applied to 2024 distributable amount
i Carryover from 2019 not applied (see instructions)
j Remainder. Subtract lines 3g, 3h, and 3i from line 3f.
4Distributions for 2024 from Section D, line 7:
$
a Applied to underdistributions of prior years
b Applied to 2024 distributable amount
c Remainder. Subtract lines 4a and 4b from line 4.
5 Remaining underdistributions for years prior to 2024, 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 2024. 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 2025. Add lines 3j and 4c.
8 Breakdown of line 7:
a Excess from 2020.....
b Excess from 2021.....
c Excess from 2022.....
d Excess from 2023.....
e Excess from 2024.....

Schedule A (Form 990) (2024)

Schedule A (Form 990) 2024

Page 8

Part VI

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

Facts And Circumstances Test

Return Reference	Explanation

Schedule A (Form 990) 2024

Additional Data

Software ID:
Software Version:

- TIN:

Schedule B
(Form 990)
(Rev. January 2025)

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

Name of the organization

TRUSTEES OF BOSTON UNIVERSITY

Employer identification number

04-2103547

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 ......... Right Arrow

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) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025) Page 2

Name of organization TRUSTEES OF BOSTON UNIVERSITY

Part I	Contributors (see instructions). Use duplicate copies of Part I if additional space is needed.
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
RESTRICTED	,	$ RESTRICTED	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
(a) No.	(b) Name, address, and ZIP + 4	(c) Total contributions	(d) Type of contribution
		$	Person Payroll Noncash (Complete Part II for noncash contributions.)
Schedule B (Form 990) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025)

Page 3

Name of organization TRUSTEES OF BOSTON UNIVERSITY		Employer identification number 04-2103547

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) (Rev. 1-2025)

Schedule B (Form 990) (Rev. 1-2025)

Page 4


Name of organization TRUSTEES OF BOSTON UNIVERSITY			Employer identification number 04-2103547
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) (Rev. 1-2025)

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

2024

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

TRUSTEES OF BOSTON UNIVERSITY

Employer identification number

04-2103547

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) 2024

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) 2021	(b) 2022	(c) 2023	(d) 2024	(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) 2024

Page 3

Part II-B

Complete if the organization is exempt under section 501(c)(3) and has NOT filed Form 5768 (election under section 501(h)).

For each "Yes" response on lines 1a through 1i below, provide in Part IV a detailed description of the lobbying activity.

(a)

Yes

(b)

Amount

During the year, did the filing organization attempt to influence foreign, national, state or local legislation, including any attempt to influence public opinion on a legislative matter or referendum, through the use of:

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

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

Yes

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

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

Yes

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

Yes

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

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

Yes

449,350

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

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

Yes

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

449,350

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 1:	THE UNIVERSITY HAS A FEDERAL RELATIONS OFFICE WHICH MONITORS LEGISLATION AND OTHER FEDERAL GOVERNMENTAL DEVELOPMENTS OF INTEREST TO AND/OR AFFECTING THE UNIVERSITY, SOMETIMES WITH THE ASSISTANCE OF CONSULTANTS. THE OFFICE ALSO SERVES AS A LIAISON BETWEEN THE UNIVERSITY AND VARIOUS GOVERNMENT OFFICIALS. THE UNIVERSITY FILES QUARTERLY REPORTS WITH CONGRESS DETAILING THESE ACTIVITIES AND EXPENSES. THE UNIVERSITY ALSO HAS TWO STAFF MEMBERS WHO HAVE RESPONSIBILITY FOR MONITORING LEGISLATION AND GOVERNMENTAL DEVELOPMENTS OF INTEREST TO AND/OR AFFECTING THE UNIVERSITY ON THE STATE LEVEL. THE UNIVERSITY FILES SEMIANNUAL REPORTS WITH THE COMMONWEALTH OF MASSACHUSETTS DETAILING THESE ACTIVITIES AND EXPENSES. IT IS POSSIBLE THAT OTHER INDIVIDUALS MAY HAVE SPENT AN INSUBSTANTIAL PORTION OF THEIR TIME ON LEGISLATIVE MATTERS OF DIRECT CONCERN TO HIGHER EDUCATION AND MAY HAVE INCURRED INSUBSTANTIAL EXPENSES IN CONNECTION WITH THIS ACTIVITY. BOSTON UNIVERSITY PAYS DUES TO VARIOUS MEMBERSHIP ORGANIZATIONS IN AN EFFORT TO STAY CURRENT ON A WIDE VARIETY OF ACADEMIC, RESEARCH, GOVERNANCE, AND OTHER ISSUES. SOME OF THESE MEMBERSHIP ORGANIZATIONS CONDUCT LOBBYING ACTIVITIES, WHICH ARE REFLECTED IN THE UNIVERSITY'S LOBBYING REPORTS. A THIRD-PARTY CONSULTANT IS RETAINED BY BOSTON UNIVERSITY TO TRACK FEDERAL LEGISLATIVE AND AGENCY DEVELOPMENTS OF INTEREST TO AND/OR AFFECTING THE UNIVERSITY.
SCHEDULE C, PART II-B, LINES 1D AND 1E:	THE UNIVERSITY POSTS FACT SHEETS CONTAINING LOBBYING MATERIALS DIRECTED AT ITS CONSTITUENCIES AND POLICYMAKERS TO THE UNIVERSITY'S WEBSITE. THE UNIVERSITY'S FEDERAL RELATIONS OFFICE ALSO DELIVERS THESE FACT SHEETS TO RELEVANT POLICYMAKERS. THE COST OF CREATING, POSTING, AND DELIVERING THE FACT SHEETS IS INCLUDED IN THE TOTAL LOBBYING EXPENSES REPORTED ON PART II-B, LINE 1J.

Return Reference

Explanation

PART II-B, LINE 1:

THE UNIVERSITY HAS A FEDERAL RELATIONS OFFICE WHICH MONITORS LEGISLATION AND OTHER FEDERAL GOVERNMENTAL DEVELOPMENTS OF INTEREST TO AND/OR AFFECTING THE UNIVERSITY, SOMETIMES WITH THE ASSISTANCE OF CONSULTANTS. THE OFFICE ALSO SERVES AS A LIAISON BETWEEN THE UNIVERSITY AND VARIOUS GOVERNMENT OFFICIALS. THE UNIVERSITY FILES QUARTERLY REPORTS WITH CONGRESS DETAILING THESE ACTIVITIES AND EXPENSES. THE UNIVERSITY ALSO HAS TWO STAFF MEMBERS WHO HAVE RESPONSIBILITY FOR MONITORING LEGISLATION AND GOVERNMENTAL DEVELOPMENTS OF INTEREST TO AND/OR AFFECTING THE UNIVERSITY ON THE STATE LEVEL. THE UNIVERSITY FILES SEMIANNUAL REPORTS WITH THE COMMONWEALTH OF MASSACHUSETTS DETAILING THESE ACTIVITIES AND EXPENSES. IT IS POSSIBLE THAT OTHER INDIVIDUALS MAY HAVE SPENT AN INSUBSTANTIAL PORTION OF THEIR TIME ON LEGISLATIVE MATTERS OF DIRECT CONCERN TO HIGHER EDUCATION AND MAY HAVE INCURRED INSUBSTANTIAL EXPENSES IN CONNECTION WITH THIS ACTIVITY. BOSTON UNIVERSITY PAYS DUES TO VARIOUS MEMBERSHIP ORGANIZATIONS IN AN EFFORT TO STAY CURRENT ON A WIDE VARIETY OF ACADEMIC, RESEARCH, GOVERNANCE, AND OTHER ISSUES. SOME OF THESE MEMBERSHIP ORGANIZATIONS CONDUCT LOBBYING ACTIVITIES, WHICH ARE REFLECTED IN THE UNIVERSITY'S LOBBYING REPORTS. A THIRD-PARTY CONSULTANT IS RETAINED BY BOSTON UNIVERSITY TO TRACK FEDERAL LEGISLATIVE AND AGENCY DEVELOPMENTS OF INTEREST TO AND/OR AFFECTING THE UNIVERSITY.

SCHEDULE C, PART II-B, LINES 1D AND 1E:

THE UNIVERSITY POSTS FACT SHEETS CONTAINING LOBBYING MATERIALS DIRECTED AT ITS CONSTITUENCIES AND POLICYMAKERS TO THE UNIVERSITY'S WEBSITE. THE UNIVERSITY'S FEDERAL RELATIONS OFFICE ALSO DELIVERS THESE FACT SHEETS TO RELEVANT POLICYMAKERS. THE COST OF CREATING, POSTING, AND DELIVERING THE FACT SHEETS IS INCLUDED IN THE TOTAL LOBBYING EXPENSES REPORTED ON PART II-B, LINE 1J.

Schedule C (Form 990) 2024

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

Open to Public Inspection

Name of the organization

TRUSTEES OF BOSTON UNIVERSITY

Employer identification number

04-2103547

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

(ii)

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

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) (Rev. 1-2025)

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 EDUCATION

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 ....	3,528,624,000	3,138,326,000	2,973,352,000	3,392,513,000	2,421,115,000
b	Contributions ...	89,930,515	189,445,092	127,308,419	62,460,046	80,427,257
c	Net investment earnings, gains, and losses	477,634,843	312,282,854	138,932,059	-387,169,121	981,004,273
d	Grants or scholarships ...	34,702,144	31,380,051	27,639,048	25,075,971	23,693,212
e	Other expenditures for facilities and programs ...	75,524,919	70,074,724	65,327,653	59,489,634	56,172,716
f	Administrative expenses ....	11,358,295	9,975,171	8,299,777	9,886,320	10,167,602
g	End of year balance ......	3,974,604,000	3,528,624,000	3,138,326,000	2,973,352,000	3,392,513,000

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

Board designated or quasi-endowment right arrow

42.450 %

Permanent endowment right arrow

27.080 %

Term endowment right arrow

30.470 %

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)

Yes

(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 .....	11,996,440	225,764,435		237,760,875
b	Buildings ....	141,197,685	4,420,780,750	1,921,995,990	2,639,982,445
c	Leasehold improvements	27,588,258	69,451,261	68,856,071	28,183,448
d	Equipment ....	2,975,360	511,617,319	337,843,027	176,749,652
e	Other .....		296,673,900	263,178,076	33,495,824
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..					3,116,172,244

Schedule D (Form 990) (Rev. 1-2025)

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) ALTERNATIVES-HEDGE	1,326,795,512	F
(B) ALTERNATIVES-NATURAL RESOURCES	39,782,843	F
(C) ALTERNATIVES-PRIVATE	1,190,028,251	F
(D) NON-MARKETABLE ALTERNATIVES	14,400,316	F
(E) ALTERNATIVES - REAL ESTATE	473,021,411	F
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)	3,044,028,333

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

Part X

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

1.(a) Description of liability	(b) Book value
(1) Federal income taxes
ANNUITIES PAYABLE	6,339,693
FINANCE LEASE OBLIGATION	62,892,130
OPERATING LEASE OBLIGATION	85,942,928
FEDERAL LOAN ADVANCES	10,935,374
COND. ASSET RETIREMENT OBLIGATION	9,534,563
POST-RETIREMENT OBLIGATION	1,654,192
FV OF INT. RATE EXCHANGE AGREEMENT	62,571,501
GOVERNMENT LOAN INTEREST	1,319,526

Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)	241,189,907
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) (Rev. 1-2025)

Page 4

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......		1
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ...........	2d
e	Add lines 2a through 2d .....................		2e
3	Subtract line 2e from line 1..................		3
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b....................		4c
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......		5

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' on Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........		1
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities .........	2a
b	Prior year adjustments ............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ...........	2d
e	Add lines 2a through 2d....................		2e
3	Subtract line 2e from line 1...................		3
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b.....................		4c
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......		5

Part XIII

Supplemental Information

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

Return Reference	Explanation
PART III, LINE 1A:	THE UNIVERSITY'S COLLECTIONS, ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE UNIVERSITY'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENTS OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN NET ASSETS WITHOUT DONOR RESTRICTIONS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED.
PART III, LINE 4:	THE UNIVERSITY'S COLLECTIONS ARE MADE UP OF ARTIFACTS OF HISTORICAL SIGNIFICANCE, SCIENTIFIC SPECIMENS, AND ART OBJECTS THAT ARE HELD FOR EDUCATIONAL, RESEARCH, SCIENTIFIC, AND CURATORIAL PURPOSES. EACH OF THE ITEMS IS CATALOGED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED REGULARLY. THE COLLECTIONS ARE SUBJECT TO A POLICY THAT REQUIRES PROCEEDS FROM DISPOSITIONS TO BE USED TO ACQUIRE OTHER ITEMS FOR COLLECTIONS.
PART V, LINE 4:	THE ENDOWMENT FUND PROVIDES THE UNIVERSITY WITH THE FLEXIBILITY AND FREEDOM TO EMBARK ON NEW DISCIPLINES, TO HIRE ADDITIONAL FACULTY, AND TO BUILD OR UPDATE FACILITIES. IT ENSURES REGULAR FUNDING LEVELS FOR UNIVERSITY DEPARTMENTS, PROGRAMS, AND SCHOLARSHIPS, AND HELPS STEM RISES IN TUITION BY SUPPORTING UNIVERSITY OPERATIONS THAT ARE OTHERWISE PAID FOR WITH STUDENT TUITION AND FEES. DISTRIBUTIONS FROM THE ENDOWMENT FUND ARE A CRITICAL SOURCE OF FUNDS, WITH OVER 50% DIRECTED TO SPECIFIC PROGRAMS, DEPARMENTS, OR PURPOSES AND TO BE SPENT IN ACCORDANCE WITH TERMS SET FORTH BY THE DONOR.
PART X, LINE 2:	THE UNIVERSITY IS GENERALLY EXEMPT FROM INCOME TAX UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE, EXCEPT TO THE EXTENT THE UNIVERSITY HAS UNRELATED BUSINESS INCOME. AS OF JUNE 30, 2025 THE UNIVERSITY'S FEDERAL NET OPERATING LOSS CARRYFORWARDS PRIOR TO JUNE 30, 2018 ARE $5,636,000, AND EXPIRE IN VARIOUS YEARS FROM 2030 TO 2037. THESE LOSSES MAY BE APPLIED TO OFFSET TAXABLE INCOME FOR ANY UNRELATED BUSINESS ACTIVITY EARNED IN FUTURE YEARS. IRC SECTION 512 (A)(6), ENACTED IN DECEMBER 2017 AS PART OF THE TAX CUT AND JOBS ACT, REQUIRES TAX EXEMPT ORGANIZATIONS WITH MULTIPLE SOURCES OF UNRELATED BUSINESS INCOME TO SEPARATELY COMPUTE ("SILO") NET UNRELATED BUSINESS INCOME AND LOSSES ON AN ACTIVITY BY ACTIVITY BASIS; FOR TAXABLE YEARS BEGINNING AFTER DECEMBER 31, 2017, EXPENSES FROM ONE UNRELATED BUSINESS ACTIVITY MAY NO LONGER BE USED TO OFFSET THE INCOME FROM ANOTHER. NET OPERATING LOSS CARRYFORWARDS BEGINNING JULY 1, 2018 THROUGH JUNE 30, 2025 ARE $33,884,000 AND MAY BE CARRIED FORWARD INDEFINITELY, BUT MAY ONLY BE USED TO OFFSET INCOME FROM THE ACTIVITY GENERATING THE LOSS. DURING THE PERIOD ENDING JUNE 30, 2025, THE UNIVERSITY'S UNRELATED BUSINESS ACTIVITIES ARE ESTIMATED TO GENERATE TAXABLE INCOME THAT WILL UTILIZE THE REMAINING NON-SILOED NET OPERATING LOSS CARRYFORWARDS. AS OF JUNE 30, 2025, THE UNIVERSITY HAD NO DEFERRED TAX ASSETS, COMPARED WITH $2,347,000 AS OF JUNE 30, 2024 AS A RESULT OF THIS UTILIZATION. THE UNIVERSITY HAS NO MATERIAL UNCERTAIN TAX POSITIONS.

Schedule D (Form 990) (Rev. 1-2025)

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE E(Form 990)
(Rev. January 2025)

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 instructions and the latest information.

OMB No. 1545-0047Open to Public Inspection

Name of the organization

TRUSTEES OF BOSTON UNIVERSITY

Employer identification number

04-2103547

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

Yes

Does the organization maintain the following:

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

Yes

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

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

Yes

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

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

Yes

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

Yes

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

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

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

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

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

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

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

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

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

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

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

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

Yes

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

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

Yes

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

Cat. No. 50085D

Schedule E (Form 990) (Rev. 1-2025)

Page 2

Part II

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

Return Reference

Explanation

SCHEDULE E, PART I, LINE 3

THE UNIVERSITY'S NON-DISCRIMINATION POLICY IS ON THE UNIVERSITY'S WEBSITE, WWW.BU.EDU.

SCHEDULE E, PART I, LINE 6A:

BOSTON UNIVERSITY PARTICIPATES IN SEVERAL FEDERAL FINANCIAL AID PROGRAMS AND GRANTS INCLUDING THE FEDERAL PELL GRANT PROGRAM, THE FEDERAL WORK STUDY PROGRAM, AND THE FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT WHICH ARE ALL UNDER THE DEPARTMENT OF EDUCATION. IN ADDITION, THE UNIVERSITY RECEIVES FEDERAL GRANTS AND CONTRACTS IN SUPPORT OF ITS RESEARCH MISSION. FEDERAL AGENCIES PROVIDING SUPPORT FOR UNIVERSITY RESEARCH AND TRAINING INCLUDED THE DEPARTMENT OF HEALTH AND HUMAN SERVICES, THE NATIONAL INSTITUTES OF HEALTH, THE NATIONAL SCIENCE FOUNDATION, THE NATIONAL AERONAUTICS AND SPACE ADMINISTRATION, THE DEPARTMENT OF DEFENSE, THE DEPARTMENT OF ENERGY, AND THE US AGENCY FOR INTERNATIONAL DEVELOPMENT.

Schedule E (Form 990) (Rev. 1-2025)

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE F(Form 990)
(Rev. January 2025)

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

Open to Public Inspection

Name of the organization
TRUSTEES OF BOSTON UNIVERSITY

Employer identification number

04-2103547

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		(b) Number of offices in the 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			FUNDRAISING		1,410
	EAST ASIA AND THE PACIFIC			FUNDRAISING		330,426
	EUROPE (INCLUDING ICELAND AND GREENLAND)			FUNDRAISING		576,763
	MIDDLE EAST AND NORTH AFRICA			FUNDRAISING		57,128
	NORTH AMERICA			FUNDRAISING		56,753
	SOUTH AMERICA			FUNDRAISING		36,892
	SOUTH ASIA			FUNDRAISING		84,540
	SUB-SAHARAN AFRICA			FUNDRAISING		12,452
	CENTRAL AMERICA AND THE CARIBBEAN			GRANTMAKING		673,211
	EAST ASIA AND THE PACIFIC			GRANTMAKING		1,766,682
	EUROPE (INCLUDING ICELAND AND GREENLAND)			GRANTMAKING		33,212,250
	MIDDLE EAST AND NORTH AFRICA			GRANTMAKING		533,070
	NORTH AMERICA			GRANTMAKING		1,049,421
	SOUTH AMERICA			GRANTMAKING		354,225
	SOUTH ASIA			GRANTMAKING		3,324,835
	SUB-SAHARAN AFRICA			GRANTMAKING		2,373,227
	CENTRAL AMERICA AND THE CARIBBEAN			INVESTMENTS		720,253,130
	EAST ASIA AND THE PACIFIC			INVESTMENTS		25,952,295
	EUROPE (INCLUDING ICELAND AND GREENLAND)			INVESTMENTS		29,694,448
	NORTH AMERICA			INVESTMENTS		13,031,203
	SUB-SAHARAN AFRICA			INVESTMENTS		27,673,544
	CENTRAL AMERICA AND THE CARIBBEAN		2	PROGRAM SERVICES	RESEARCH	228,709
	EAST ASIA AND THE PACIFIC		6	PROGRAM SERVICES	RESEARCH	918,106
	EUROPE (INCLUDING ICELAND AND GREENLAND)		39	PROGRAM SERVICES	RESEARCH	4,599,688
	MIDDLE EAST AND NORTH AFRICA		3	PROGRAM SERVICES	RESEARCH	78,651
	NORTH AMERICA		14	PROGRAM SERVICES	RESEARCH	383,892
	RUSSIA AND NEIGHBORING STATES		2	PROGRAM SERVICES	RESEARCH	12,375
	SOUTH AMERICA		13	PROGRAM SERVICES	RESEARCH	191,030
	SOUTH ASIA	1	9	PROGRAM SERVICES	RESEARCH	149,716
	SUB-SAHARAN AFRICA		22	PROGRAM SERVICES	RESEARCH	722,442
	CENTRAL AMERICA AND THE CARIBBEAN			PROGRAM SERVICES	SEMINAR	352,188
	EAST ASIA AND THE PACIFIC			PROGRAM SERVICES	SEMINAR	829,563
	EUROPE (INCLUDING ICELAND AND GREENLAND)			PROGRAM SERVICES	SEMINAR	1,699,959
	MIDDLE EAST AND NORTH AFRICA			PROGRAM SERVICES	SEMINAR	126,552
	NORTH AMERICA			PROGRAM SERVICES	SEMINAR	328,297
	RUSSIA AND NEIGHBORING STATES			PROGRAM SERVICES	SEMINAR	28,939
	SOUTH AMERICA			PROGRAM SERVICES	SEMINAR	181,272
	SOUTH ASIA			PROGRAM SERVICES	SEMINAR	129,685
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	SEMINAR	178,453
	EAST ASIA AND THE PACIFIC	2	45	PROGRAM SERVICES	STUDY ABROAD	5,935,115
	EUROPE (INCLUDING ICELAND AND GREENLAND)	11	237	PROGRAM SERVICES	STUDY ABROAD	30,928,603
	MIDDLE EAST AND NORTH AFRICA			PROGRAM SERVICES	STUDY ABROAD	96,046
	NORTH AMERICA			PROGRAM SERVICES	STUDY ABROAD	34,012
	SOUTH AMERICA			PROGRAM SERVICES	STUDY ABROAD	197,118
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	STUDY ABROAD	248,815
	RUSSIA AND NEIGHBORING STATES			PROGRAM SERVICES	STUDY ABROAD	75,000
	EAST ASIA AND THE PACIFIC			PROGRAM SERVICES	STUDENT FINANCIAL AID	3,799,805
	EUROPE (INCLUDING ICELAND AND GREENLAND)			PROGRAM SERVICES	STUDENT FINANCIAL AID	20,306,187
	NORTH AMERICA			PROGRAM SERVICES	STUDENT FINANCIAL AID	36,035
	SOUTH AMERICA			PROGRAM SERVICES	STUDENT FINANCIAL AID	282,916
	SUB-SAHARAN AFRICA			PROGRAM SERVICES	STUDENT FINANCIAL AID	293,349
	MIDDLE EAST AND NORTH AFRICA			PROGRAM SERVICES	STUDENT FINANCIAL AID	66,784
3a	Sub-total ....	0	0			1,156,364
b	Total from continuation sheets to Part I ...	14	392			933,330,843
c	Totals (add lines 3a and 3b)	14	392			934,487,207

For Paperwork Reduction Act Notice, see the Instructions for Form 990.Cat. No. 50082W Schedule F (Form 990) (Rev. 1-2025)

Schedule F (Form 990) (Rev. 1-2025)

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
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	6,131,651	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	4,614,572	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	4,366,587	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	2,835,289	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	2,326,825	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	2,220,414	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	2,020,518	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	1,898,682	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	1,697,236	WIRE
SOUTH ASIA	RESEARCH	1,650,699	WIRE
SOUTH ASIA	RESEARCH	1,418,609	WIRE
NORTH AMERICA	RESEARCH	1,049,421	CHECK
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	1,047,191	WIRE
EAST ASIA AND THE PACIFIC	RESEARCH	932,920	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	902,490	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	872,928	WIRE
SUB-SAHARAN AFRICA	RESEARCH	741,165	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	689,209	WIRE
SUB-SAHARAN AFRICA	RESEARCH	573,032	WIRE
CENTRAL AMERICA AND THE CARIBBEAN	RESEARCH	503,365	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	342,590	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	278,645	WIRE
MIDDLE EAST AND NORTH AFRICA	RESEARCH	257,243	CHECK
SOUTH AMERICA	RESEARCH	254,367	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	252,714	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	208,858	WIRE
SUB-SAHARAN AFRICA	RESEARCH	207,419	WIRE
SUB-SAHARAN AFRICA	RESEARCH	200,140	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	172,728	WIRE
CENTRAL AMERICA AND THE CARIBBEAN	RESEARCH	169,846	WIRE
SUB-SAHARAN AFRICA	RESEARCH	166,611	WIRE
SUB-SAHARAN AFRICA	RESEARCH	145,745	WIRE
MIDDLE EAST AND NORTH AFRICA	RESEARCH	138,197	WIRE
EAST ASIA AND THE PACIFIC	RESEARCH	130,106	WIRE
EAST ASIA AND THE PACIFIC	RESEARCH	130,000	WIRE
EAST ASIA AND THE PACIFIC	RESEARCH	125,353	WIRE
EAST ASIA AND THE PACIFIC	RESEARCH	124,302	WIRE
SUB-SAHARAN AFRICA	RESEARCH	122,303	WIRE
SOUTH ASIA	RESEARCH	104,872	WIRE
EAST ASIA AND THE PACIFIC	RESEARCH	100,000	WIRE
EAST ASIA AND THE PACIFIC	RESEARCH	95,942	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	88,449	WIRE
SUB-SAHARAN AFRICA	RESEARCH	87,996	WIRE
SUB-SAHARAN AFRICA	RESEARCH	83,495	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	81,404	WIRE
MIDDLE EAST AND NORTH AFRICA	RESEARCH	80,167	CHECK
EAST ASIA AND THE PACIFIC	RESEARCH	74,423	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	59,936	WIRE
MIDDLE EAST AND NORTH AFRICA	RESEARCH	57,463	WIRE
SOUTH ASIA	RESEARCH	57,153	WIRE
SOUTH AMERICA	RESEARCH	54,417	WIRE
EAST ASIA AND THE PACIFIC	RESEARCH	53,634	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	46,435	WIRE
SOUTH AMERICA	RESEARCH	45,441	WIRE
SOUTH ASIA	RESEARCH	31,313	WIRE
SOUTH ASIA	RESEARCH	30,972	WIRE
SUB-SAHARAN AFRICA	RESEARCH	28,124	WIRE
SOUTH ASIA	RESEARCH	23,974	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	19,362	WIRE
SUB-SAHARAN AFRICA	RESEARCH	17,198	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	16,200	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	13,776	WIRE
EUROPE (INCLUDING ICELAND AND GREENLAND)	RESEARCH	7,559	WIRE
SOUTH ASIA	RESEARCH	7,243	WIRE

2	Enter total number of recipient organizations listed above that are recognized as charities by the foreign country, recognized as tax-exempt by the IRS, or for which the grantee or counsel has provided a section 501(c)(3) equivalency letter .......	26
3	Enter total number of other organizations or entities .......................	38

Schedule F (Form 990) (Rev. 1-2025)

Schedule F (Form 990) (Rev. 1-2025)Page 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	(f) Amount of noncash assistance	(g) Description of noncash assistance	(h) Method of valuation (book, FMV, appraisal, other)
STUDENT FINANCIAL AID	EAST ASIA AND THE PACIFIC	174	3,799,805	TUITION	COST
STUDENT FINANCIAL AID	EUROPE (INCLUDING ICELAND AND GREENLAND)	861	20,306,187	TUITION	COST
STUDENT FINANCIAL AID	MIDDLE EAST AND NORTH AFRICA	3	66,784	TUITION	COST
STUDENT FINANCIAL AID	NORTH AMERICA	1	36,035	TUITION	COST
STUDENT FINANCIAL AID	SUB-SAHARAN AFRICA	9	293,349	TUITION	COST
STUDENT FINANCIAL AID	SOUTH AMERICA	10	282,916	TUITION	COST

Schedule F (Form 990) (Rev. 1-2025)

Page 4

Part IV

Foreign Forms

Schedule F (Form 990) (Rev. 1-2025)

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:	THE UNIVERSITY ASSIGNS RESPONSIBILITY FOR MONITORING THE USE OF RESEARCH FUNDS OUTSIDE OF THE UNITED STATES TO THE OFFICE OF SPONSORED PROGRAMS, POST AWARD. THIS OFFICE MONITORS ALL DOMESTIC AND FOREIGN SUBRECIPIENT GRANT MAKING ACTIVITY, INCLUDING COMPLIANCE WITH ALL APPLICABLE REGULATIONS. WHEN APPROVING INVOICE PAYMENTS CHARGED TO RESEARCH GRANTS, THE VALIDITY OF EXPENSES AND THE ACHIEVEMENT OF SCIENTIFIC AND TECHNICAL PROGRESS IS VERIFIED BY THE PRINCIPAL INVESTIGATOR OR HIS/HER DESIGNEE. BOSTON UNIVERSITY SCHOOLS, COLLEGES, AND THE OFFICE OF FINANCIAL ASSISTANCE MAKE EVERY EFFORT TO ASSIST STUDENTS WITH CALCULATED FINANCIAL ELIGIBILITY AND HIGH ACADEMIC ACHIEVEMENT, MEASURED AGAINST THE CREDENTIALS OF OTHER ACCEPTED STUDENTS. A STUDENT'S ACADEMIC RECORD IS AN IMPORTANT FACTOR IN DETERMINING ELIGIBILITY FOR BOSTON UNIVERSITY SCHOLARSHIPS AND NEED-BASED GRANTS. KEY INDICATORS SUCH AS HIGH SCHOOL GRADE POINT AVERAGE (GPA), RANK IN CLASS, AND STANDARDIZED TEST SCORES ARE CONSIDERED, AS WELL AS THE STRENGTH OF THE STUDENT'S ACADEMIC PROGRAM AND EXTRACURRICULAR ACTIVITIES.
PART I, LINE 3:	THE INFORMATION REPORTED UNDER SCHEDULE F, PART I IS BASED ON REVIEW OF DISBURSEMENTS TO FOREIGN VENDORS AS WELL AS GRANT, PAYROLL, TRAVEL, AND INVESTMENT DATA. GRANT MAKING ACTIVITIES CONSIST OF RESEARCH GRANTS TO SUBRECIPIENTS.

Schedule F (Form 990) (Rev. 1-2025)

Additional Data

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SCHEDULE G (Form 990)
(Rev. January 2025)

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

Open to Public Inspection

Name of the organization
TRUSTEES OF BOSTON UNIVERSITY

Employer identification number

04-2103547

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?		(iv) Gross receipts from activity	(v) Amount paid to (or retained by) fundraiser listed in col. (i)	(vi) Amount paid to (or retained by) organization
			Yes	No
	ADVANCED REMARKETING SERVICES INC 116 JOHNNY CAKE HILL MIDDLETOWN, RI02842	FUNDRAISING	Yes		1,503,005	307,448	1,195,557
	HURON CONSULTING SERVICES LLC PO BOX 71223 CHICAGO, IL60694	FUNDRAISING CONSULTANT		No	0	139,532	-139,532
	GREATER PUBLIC 401 NORTH 3RD STREET SUITE 601 MINNEAPOLIS, MN55401	FUNDRAISING CONSULTANT		No	0	40,000	-40,000
	TELESCOPE ADVERTISING 2699 1/2 N BEACHWOOD DRIVE SUITE LOS ANGELES, CA90068	FUNDRAISING CONSULTANT		No	0	8,500	-8,500






Total . . . . . . . . . . . . . . . . . . . .					1,503,005	495,480	1,007,525

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.

AK, AL, AR, AZ, CA, CO, CT, DC, DE, FL, GA, HI, IA, ID, IL, IN, KS, KY, LA, MA, MD, ME, MI, MN, MO, MS, MT, NC, ND, NE, NH, NJ, NM, NV, NY, OH, OK, OR, PA, RI, SC, SD, TN, TX, UT, VA, VT, WA, WI, WV, WY

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

Cat. No. 50083H

Schedule G (Form 990) (Rev. 1-2025)

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 WBUR FESTIVAL (event type)	(b) Event #2 WBUR VALENTINE'S DAY (event type)	(c) Other events 2 (total number)	(d) Total events (add col. (a) through col. (c))
1	Gross receipts . . . . .	2,280,825	548,121	1,840,109	4,669,055
2	Less: Contributions . . . .	0	0	1,600,894	1,600,894
3	Gross income (line 1 minus line 2) . . . . . .	2,280,825	548,121	239,215	3,068,161

4	Cash prizes . . . . .	0	0	0
5	Noncash prizes . . . .	0	0	0
6	Rent/facility costs . . . .	72,465	0	0	72,465
7	Food and beverages . . .	81,804	0	0	81,804
8	Entertainment . . . .	121,058	0	0	121,058
9	Other direct expenses . . .	1,516,431	359,269	512,078	2,387,778
10	Direct expense summary. Add lines 4 through 9 in column (d) . . . . . . . . . .				2,663,105
11	Net income summary. Subtract line 10 from line 3, column (d). . . . . . . . . .				405,056

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) (Rev. 1-2025)

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) (Rev. 1-2025)

Additional Data

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Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

Schedule I
(Form 990)
(Rev. January 2025)

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 instructions and the latest information.

OMB No. 1545-0047

Open to Public
Inspection

Name of the organization
TRUSTEES OF BOSTON UNIVERSITY

Employer identification number
04-2103547

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) ABT ASSOCIATES INC 6130 EXECUTIVE BLVD ROCKVILLE,MD20852	04-2347643		101,082	RESEARCH
(2) ADMINISTRATORS OF THE TULANE EDUCAT 1555 POYDRAS ST STE805 GCA MAILBX8 NEW ORLEANS,LA70112	72-0423889	501 C 3	45,788	RESEARCH
(3) AMERICAN COLLEGE OF RADIOLOGY 1892 PRESTON WHITE DRIVE RESTON,VA20191	36-2261602	501 C 3	697,972	RESEARCH
(4) ANDERSONICS LLC 18 EMERSON STREET BELMONT,MA02478	85-0746315		16,927	RESEARCH
(5) ANDREWS UNIVERSITY 4150 ADMINISTRATION DR FIRMS LEDGER BERRIEN SPRINGS,MI49104	38-1627600	501 C 3	102,543	RESEARCH
(6) ARRAY EDUCATION INC 25 BROADWAY 3RD FLOOR NEW YORK,NY10004	26-1525207	501 C 3	138,508	RESEARCH
(7) ARREPATH INC 303A COLLEGE ROAD EAST PRINCETON,NJ08540	86-1419165		437,750	RESEARCH
(8) ASTRADX INC 508 HEATH ST STE 2 CHESTNUT HILL,MA02467	83-4529090		247,679	RESEARCH
(9) AVAILS MEDICAL INC 1455 ADAMS DRIVE SUITE 1288 MENLO PARK,CA94025	46-4246007		2,742,781	RESEARCH
(10) BANNER HEALTH 901 EAST WILLETTA ST RESEARCH FINAN PHOENIX,AZ85006	45-0233470	501 C 3	80,142	RESEARCH
(11) BAYLOR COLLEGE OF MEDICINE PO BOX 301207 DALLAS,TX75303	74-1613878	501 C 3	387,044	RESEARCH
(12) BECKMAN RSRCH INST OF THE CITY OF H 1500 E DUARTE RD CACAR REF 201082 DUARTE,CA91010	95-3432210	501 C 3	182,724	RESEARCH
(13) BEDFORD VA RESEARCH CORPORATION INC 200 SPRINGS RD MS152 BLDG70 RMB30B BEDFORD,MA01730	04-3512440	501 C 3	17,205	RESEARCH
(14) BENTLEY UNIVERSITY 175 FOREST STREET WALTHAM,MA02452	04-1081650	501 C 3	26,150	RESEARCH
(15) BETH ISRAEL DEACONESS MEDICAL CENTE 330 BROOKLINE AVENUE BOSTON,MA02215	04-2103881	501 C 3	1,429,577	RESEARCH
(16) BOARD OF REGENTS OF UNIV OF NEBRAS 985045 NEBRASKA MEDICAL CENTER OMAHA,NE68198	47-0049123	STATE GOVT	13,949	RESEARCH
(17) BOARD OF REGENTS UNIV OF NEVADA 4505 S MARYLAND PARKWAY-BX 451055 LAS VEGAS,NV89154	88-6000024	STATE GOVT	12,904	RESEARCH
(18) BOARD OF TRUSTEES FOR THE UNIV OF BOX 870135 CONTRACT GRANT ACCOUNT TUSCALOOSA,AL35487	63-6001138	501 C 3	33,836	RESEARCH
(19) BOARD OF TRUSTEES OF THE LELAND STA PO BOX 884253 LOS ANGELES,CA90088	94-1156365	501 C 3	229,640	RESEARCH
(20) BOARD OF TRUSTEES OF UNIVERSITY OF 28395 NETWORK PL GRANTS CONTRACTS CHICAGO,IL60673	37-6000511	STATE GOVT	676,014	RESEARCH
(21) BOSTON MEDICAL CENTER 960 MASS AVE RESEARCH FINANCE AR BOSTON,MA02118	04-3314093	501 C 3	2,960,015	RESEARCH
(22) BOSTON VA RESEARCH INSTITUTE INC 150S HUNTINGTON AV 151B NWD ACCT BOSTON,MA02130	04-3081524	501 C 3	12,401	RESEARCH
(23) BOWDOIN COLLEGE 5400 COLLEGE STATIONS CONTROLLEROFF BRUNSWICK,ME04011	01-0215213	501 C 3	33,218	RESEARCH
(24) BRANDEIS UNIVERSITY 415 SOUTH ST MS 110 MAHEALTH POLICY WALTHAM,MA02454	04-2103552	501 C 3	782,767	RESEARCH
(25) BRIGHAM YOUNG UNIVERSITY A-261 ASB GRANTS CONTRACT ACCOUNT PROVO,UT84602	87-0217280	STATE GOVT	23,741	RESEARCH
(26) BROWN UNIVERSITY 69 BROWN ST 2ND FL BOX 1997 COBBSC PROVIDENCE,RI02912	05-0258809	501 C 3	445,430	RESEARCH
(27) BUTLER HOSPITAL 350 DUNCAN DRIVE PROVIDENCE,RI02906	05-0258812	501 C 3	126,626	RESEARCH
(28) CALIFORNIA INSTITUTE OF TECHNOLOGY 1200 E CALIFORNIA BLVD PASADENA,CA91125	95-1643307	501 C 3	49,927	RESEARCH
(29) CAMBRIDGE PUBLIC HEALTH COMMISSION 350 MAIN ST STE 31 MALDEN,MA02148	04-3320571	STATE GOVT	149,460	RESEARCH
(30) CAREER LAUNCH INC 12935 ALCOSTA BLVD 2216 SAN RAMON,CA94583	99-2538676	501 C 3	137,494	RESEARCH
(31) CEDARS-SINAI MEDICAL CENTER 8700 BEVERLY BLVD STE 1150 LOS ANGELES,CA90048	95-1644600	501 C 3	209,302	RESEARCH
(32) CELLICS THERAPEUTICS INC 11588 SORRENTO VALLEY RD STE 20 SAN DIEGO,CA92121	46-5220148		4,970,180	RESEARCH
(33) CENTER FOR INNOVATIVE PUBLIC HEALTH 555 N EL CAMINO REAL A347 SAN CLEMENTE,CA92672	20-0165973	501 C 3	35,568	RESEARCH
(34) CENTER FOR VETERANS RESEARCH AND ED 1 VETERANS DRIVE 151 MINNEAPOLIS,MN55417	41-1652941	501 C 3	35,540	RESEARCH
(35) CHAPMAN UNIVERSITY ONE UNIVERSITY DR ONE UNIV DR ORANGE,CA92866	95-1643992	501 C 3	12,064	RESEARCH
(36) CHILDRENS HOSPITAL CORPORATION PO BOX 414413 BOSTON,MA02241	04-2774441	501 C 3	764,285	RESEARCH
(37) CLARAMETYX BIOSCIENCES INC 1275 KINNEAR RD COLUMBUS,OH43212	84-4245308		298,931	RESEARCH
(38) CLEVELAND CLINIC FOUNDATION PO BOX 931562 LERNER COLLEGE OF MED CLEVELAND,OH44193	34-0714585	501 C 3	45,689	RESEARCH
(39) CLINTON HEALTH ACCESS INITIATIVE IN 383 DORCHESTER AVE SUITE 400 BOSTON,MA02127	27-1414646	501 C 3	1,362,833	RESEARCH
(40) COLORADO SEMINARY PO BOX 911811 OSP DENVER,CO80291	84-0404231	501 C 3	359,122	RESEARCH
(41) COLORADO STATE UNIVERSITY 2002 CAMPUS DELIVERY SPONSORED PRO FORT COLLINS,CO80523	84-6000545	STATE GOVT	92,640	RESEARCH
(42) COMMONWEALTH OF MASSACHUSETTS 250 NEW RUTHERFORD AVENUE BOSTON,MA02129	04-2710011	STATE GOVT	9,169	RESEARCH
(43) COMMONWEALTH OF MASSACHUSETTS 250 WASHINGTON ST 3RD FLR DPH BOSTON,MA02108	04-6002284	STATE GOVT	19,657	RESEARCH
(44) CORNELL UNIVERSITY PO BOX 22 ITHACA,NY14851	15-0532082	501 C 3	247,604	RESEARCH
(45) DANA-FARBER CANCER INSTITUTE INC PO BOX 412846 BOSTON,MA02241	04-2263040	501 C 3	867,750	RESEARCH
(46) DARE BIOSCIENCE INC 3655 NOBEL DRIVE SUITE 260 SAN DIEGO,CA92122	20-4139823		24,272	RESEARCH
(47) DARTMOUTH-HITCHCOCK CLINIC PO BOX 411754 BOSTON,MA02215	22-2519596	501 C 3	62,112	RESEARCH
(48) DAY ZERO DIAGNOSTICS INC 40 GUEST STREET STE 3300 BOSTON,MA02465	81-2254210		5,338,365	RESEARCH
(49) DENVER RESEARCH INSTITUTE 3401 QUEBEC ST STE 5000 DENVER,CO80207	84-1392442	501 C 3	41,783	RESEARCH
(50) DREXEL UNIVERSITY PO BOX 95000-1090 TD BANK PHILADELPHIA,PA19195	23-1352630	501 C 3	25,837	RESEARCH
(51) DRS NETWORK AND IMAGING SYSTEMS PO BOX 840342 DALLAS,TX75284	59-3321536		125,000	RESEARCH
(52) DUKE UNIVERSITY PO BOX 602651 ACCOUNTS RECEIVABLE L CHARLOTTE,NC28260	56-0532129	501 C 3	158,973	RESEARCH
(53) EASTERN MICHIGAN UNIVERSITY ACCOUNTING DEPT - 203 PIERCE YPSILANTI,MI48197	38-6005986	STATE GOVT	21,968	RESEARCH
(54) EASTERN VIRGINIA MEDICAL SCHOOL 358 MOWBRAY ARCH PO BOX 1980 GA NORFOLK,VA23507	54-6055378	501 C 3	15,488	RESEARCH
(55) ECOHEALTH ALLIANCE INC 520 8TH AVENUE SUITE 1200 NEW YORK,NY10018	31-1726494	501 C 3	18,097	RESEARCH
(56) EDVESTORS INC 142 BERKELEY ST STE 410 BOSTON,MA02116	76-0794873	501 C 3	68,072	RESEARCH
(57) EL FARO HEALTH AND THERAPEUTICS 2791 PHARMACY ROAD RIO GRANDE CITY,TX78582	87-2833721		33,388	RESEARCH
(58) EMBRY-RIDDLE AERONAUTICAL UNIVERSIT 1 AEROSPACE BOULEVARD DAYTONA BEACH,FL32114	59-0936101	501 C 3	414,614	RESEARCH
(59) EMORY UNIVERSITY PO BOX 935084 ATLANTA,GA31193	58-0566256	501 C 3	299,110	RESEARCH
(60) FARADAY ENERGY LLC 1525 BULL LEA ROAD SUITE 10 LEXINGTON,KY40511	27-3416441		63,045	RESEARCH
(61) FENWAY COMMUNITY HEALTH CENTER INC PO BOX 847074 LISA PHONG BOSTON,MA02284	04-2510564	501 C 3	51,934	RESEARCH
(62) FLORIDA INSTITUTE OF TECHNOLOGY INC CASHIERS OFFICE 150 W UNIVERSITY B MELBOURNE,FL32901	59-6046500	501 C 3	8,734	RESEARCH
(63) FLORIDA INTERNATIONAL UNIV BOT 11200 SW 8TH STREET MARC 430 MIAMI,FL33199	65-0177616	501 C 3	796,148	RESEARCH
(64) FORSYTH DENTAL INFIRMARY FOR CHILDR 245 FIRST STREET CAMBRIDGE,MA02142	04-2104230	501 C 3	43,766	RESEARCH
(65) FRANKLIN & MARSHALL COLLEGE PO BOX 3003 C/O CLAIRE RETTERER LANCASTER,PA17604	23-1352635	501 C 3	14,013	RESEARCH
(66) FRANKLIN W OLIN COLLEGE OF ENGINEE 1000 OLIN WAY MILAS HALL 330 NEEDHAM,MA02492	06-1519057	501 C 3	30,074	RESEARCH
(67) FRED HUTCHINSON CANCER RESEARCH CEN 1100 FAIRVIEW AVE NORTH SEATTLE,WA98109	23-7156071	501 C 3	64,349	RESEARCH
(68) GE MEDICAL SYSTEMS INFORMATION TECH 1 RESEARCH CIRCLE BLDG K-1 5D7 NISKAYUNA,NY12309	39-1046671	501 C 3	809,425	RESEARCH
(69) GEORGE MASON UNIVERSITY 4400 UNIVERSITY DRIVE MS 2E1 FAIRFAX,VA22030	54-0836354	STATE GOVT	31,136	RESEARCH
(70) GEORGETOWN UNIVERSITY PO BOX 825738 PHILADELPHIA,PA19182	53-0196603	501 C 3	121,373	RESEARCH
(71) GEORGIA STATE UNIVERSITY PO BOX 3999 RESEARCH FINANCIAL SERV ATLANTA,GA30302	58-6002050	STATE GOVT	582,962	RESEARCH
(72) GREENROOTS INC 90 EVERETT AVE SUITE 10 CHELSEA,MA02150	81-2718273	501 C 3	70,860	RESEARCH
(73) HEALTH RESEARCH INC PO BOX 2966 BUFFALO,NY14240	14-1402155	501 C 3	403,949	RESEARCH
(74) HEBREW REHABILITATION CENTER 1200 CENTRE STREET BOSTON,MA02131	04-2104298	501 C 3	213,254	RESEARCH
(75) HENRY FORD HEALTH SYSTEM ONE FORD PLACE DETROIT,MI48202	38-1357020	501 C 3	25,687	RESEARCH
(76) HOLYOKE HEALTH CENTER INC P O BOX 6260 230 MAPLE STREET HOLYOKE,MA01041	04-2492730	501 C 3	227,700	RESEARCH
(77) HORIZON RESEARCH INC 6350 QUADRANGLE DRIVE STE 130 CHAPEL HILL,NC27517	56-1550276		101,728	RESEARCH
(78) HUMAN COMPUTATION INSTITUTE INC 253 RINGWOOD RD APT G2 FREEVILLE,NY13068	81-5402321	501 C 3	17,052	RESEARCH
(79) ICAHN SCHOOL OF MEDICINE AT MOUNT S 1 GUSTAVE LEVY PL BOX 3500 RAJ AP NEW YORK,NY10029	13-6171197	501 C 3	899,114	RESEARCH
(80) ICOULDBEORG INC 222 BROADWAY 19TH FL NEW YORK,NY10038	13-4151810	501 C 3	150,000	RESEARCH
(81) IMMUNARTES LLC 6401 S GARFIELD AVENUE WILLOWBROOK,IL60527	82-3479997		45,067	RESEARCH
(82) INDIANA UNIVERSITY PO BOX 78000 DEPT 78896 DETROIT,MI48278	35-6001673	STATE GOVT	427,215	RESEARCH
(83) INSTITUTE FOR LIFE SCIENCE ENTREPRE 1000 MORRIS AVE STEM BLDG 5-13 UNION,NJ07083	46-5632420	501 C 3	321,880	RESEARCH
(84) JOBY AERO INC 333 ENCINAL STREET SANTA CRUZ,CA95060	81-4458866		137,000	RESEARCH
(85) JOHNS HOPKINS UNIV APPLIED PHYSICS 11100 JOHNS HOPKINS ROAD LAUREL,MD20723	52-0595111	501 C 3	245,556	RESEARCH
(86) JOHNS HOPKINS UNIVERSITY 12529 COLLECTIONS CENTER DRIVE CHICAGO,IL60693	52-0595110	501 C 3	1,155,371	RESEARCH
(87) JSI RESEARCH AND TRAINING INSTITUTE 501 SOUTH STREET 2ND FLOOR BOW,NH03304	04-2679824	501 C 3	321,536	RESEARCH
(88) KAISER FOUNDATION RESEARCH INSTITUT 1800 HARRISON ST 16TH FLOOR OAKLAND,CA94612	94-1105628	501 C 3	159,091	RESEARCH
(89) KANSAS CITY UNIVERSITY 1750 INDEPENDENCE AVENUE KANSAS CITY,MO64106	44-0545280	501 C 3	8,441	RESEARCH
(90) LAHEY CLINIC INC 41 MAIL RD OFFICE OF RESEARCH ADMI BURLINGTON,MA01805	04-2704683	501 C 3	27,466	RESEARCH
(91) LOCUS BIOSCIENCES INC 523 DAVIS DRIVE SUITE 350 MORRISVILLE,NC27560	47-4084065		3,757,563	RESEARCH
(92) LUMEN BIOSCIENCE INC 1441 N 34TH STREET SUITE 300 SEATTLE,WA98103	82-0810906		230,653	RESEARCH
(93) LUNDQUIST INSTITUTE FOR BIOMEDICAL 1124 W CARSON ST BUILDING MRL TORRANCE,CA90502	95-2138184	501 C 3	149,817	RESEARCH
(94) MACRO BIOLOGICS INC 3142 TIGER RUN COURT SUITE 101 CARLSBAD,CA92010	27-4438018		1,394,054	RESEARCH
(95) MAGEE-WOMENS RESEARCH INSTITUTE & F 3240 CRAFT PLACE SUITE 100 PITTSBURG,PA15213	25-1462312	501 C 3	172,970	RESEARCH
(96) MASSACHUSETTS ALLIANCE OF BOYS & GI PO BOX 815 LUDLOW,MA01056	06-1684675	501 C 3	43,515	RESEARCH
(97) MASSACHUSETTS HEALTH OFFICERS ASSOC PO BOX 911 C/O BERKSHIRE BANK WORCESTER,MA01613	04-2695256	501 C 3	209,454	RESEARCH
(98) MASSACHUSETTS INSTITUTE OF TECHNOLO 77 MASS AVE CASHIERS NE49-3182B CAMBRIDGE,MA02139	04-2103594	501 C 3	1,959,038	RESEARCH
(99) MAYO CLINIC JACKSONVILLE PO BOX 860334 RESEARCH FINANCE MINNEAPOLIS,MN55486	59-3337028	501 C 3	385,487	RESEARCH
(100) MEDICAL UNIVERSITY OF SOUTH CAROLIN 1 SOUTH PARK CIRCLE SUITE 402 CHARLESTON,SC29407	57-6000722	STATE GOVT	58,750	RESEARCH
(101) MELIOLABS INC 3108 PATRICK HENRY DRIVE SANTA CLARA,CA95054	82-4665574		985,807	RESEARCH
(102) MERRIMACK COLLEGE 315 TURNPIKE STREET BOX A35 NORTH ANDOVER,MA01845	04-2103731	501 C 3	53,924	RESEARCH
(103) MICHIGAN STATE UNIVERSITY 426 AUDITORIUM ROAD ROOM 2 EAST LANSING,MI48824	38-6005984	STATE GOVT	12,783	RESEARCH
(104) MIDDLE TENNESSEE RESEARCH INSTITUTE 1310 24TH AVE SOUTH RM F201 NASHVILLE,TN37212	62-1387860	501 C 3	18,845	RESEARCH
(105) MIGHTY PICNIC LLC 1727 SNYDER AVE PHILADELPHIA,PA19145	46-1050191		19,354	RESEARCH
(106) MONTANA STATE UNIVERSITY PO BOX 174240 BOZEMAN,MT59717	81-6010045	STATE GOVT	58,990	RESEARCH
(107) MURRAY STATE UNIVERSITY 200 SPARKS HALL GRANTS CONTRACTS MURRAY,KY42071	61-1005783	501 C 3	20,588	RESEARCH
(108) MYSTIC RIVER WATERSHED ASSOCIATION 20 ACADEMY ST SUITE 306 ARLINGTON,MA02476	23-7221094		69,807	RESEARCH
(109) NEW JERSEY INSTITUTE OF TECHNOLOGY 323 MARTIN LUTHER KING JR BLVD NEWARK,NJ07102	22-6000910	STATE GOVT	241,180	RESEARCH
(110) NEW YORK UNIVERSITY PO BOX 415026 NYU SCHOOL OF MEDICIN BOSTON,MA02241	13-5562308	501 C 3	337,223	RESEARCH
(111) NORTH CAROLINA AGRICULTURAL & TECHN 1601 E MARKET ST FORT IRC 4TH FL OF GREENSBORO,NC27411	56-6000007	STATE GOVT	139,185	RESEARCH
(112) NORTH CAROLINA STATE UNIVERSITY BOX 7214 OFFICE OF CONTR AND GRANTS RALEIGH,NC27695	56-6000756	501 C 3	133,531	RESEARCH
(113) NORTHEASTERN UNIVERSITY 360 HUNTINGTON AVE MAILSTOP540177HU BOSTON,MA02115	04-1679980	501 C 3	173,555	RESEARCH
(114) NORTHERN CALIFORNIA INSTITUTE FOR R 4150 CLEMENT ST 151NC SAN FRANCISCO,CA94121	94-3084159	501 C 3	456,754	RESEARCH
(115) NORTHWESTERN UNIVERSITY 633 CLARK STREET RM G-547 EVANSTON,IL60208	36-2167817	501 C 3	294,469	RESEARCH
(116) NOVA SOUTHEASTERN UNIVERSITY INC 3300 S UNIV DR DIRECTOR CONTRACT GA FORT LAUDERDALE,FL33328	59-1083502	501 C 3	125,446	RESEARCH
(117) OREGON HEALTH & SCIENCE UNIVERSITY POB 3003 OPAM PORTLAND,OR97208	93-1176109	501 C 3	250,603	RESEARCH
(118) OREGON RESEARCH INSTITUTE 3800 SPORTS WAY SPRINGFIELD,OR97477	93-0495655	501 C 3	91,927	RESEARCH
(119) PALO ALTO VETERANS INSTITUTE FOR RE 3801 MIRANDA AVE 151P PO BOX V- PALO ALTO,CA94304	77-0207331	501 C 3	81,889	RESEARCH
(120) PEARL DIAGNOSTICS INC 1812 ASHLAND AVENUE G32 BALTIMORE,MD21205	88-0762972		347,864	RESEARCH
(121) PEPTILOGICS INC 2730 SIDNEY ST STE 300 PITTSBURGH,PA15203	46-3732713		923,419	RESEARCH
(122) PLANETARY SCIENCE INSTITUTE 1700 E FORT LOWELL ROAD SUITE 106 TUCSON,AZ85719	85-4031467	501 C 3	91,895	RESEARCH
(123) PRESIDENT & FELLOWS OF HARVARD COLL PO BOX 415649 BOSTON,MA02241	04-2103580	501 C 3	4,382,219	RESEARCH
(124) PROMPT DIAGNOSTICS LLC 2401 W BELVEDERE AVE SCHAPIRO BLDG BALTIMORE,MD21215	85-4031467		913,614	RESEARCH
(125) PUBLIC HEALTH INSTITUTE 555 12TH ST 6TH FL STE 600 OAKLAND,CA94607	94-1646278	501 C 3	52,067	RESEARCH
(126) RAYTHEON PO BOX 419370 BOSTON,MA022419370	95-1778500		51,449	RESEARCH
(127) RECTOR AND VISITORS OF THE UNIV OF PO BOX 400195 ATTN OFFICE OF SPON CHARLOTTESVILLE,VA22904	54-6001796	501 C 3	323,500	RESEARCH
(128) REGENTS OF THE UNIV OF CA SAN DIEGO 9500 GILMAN DRIVE MC0602 LA JOLLA,CA92093	95-6006144	STATE GOVT	214,196	RESEARCH
(129) REGENTS OF THE UNIV OF CA SANTA BAR SAASB BUILD RM 1212 CASHIERS OFF SANTA BARBARA,CA93106	95-6006145	STATE GOVT	30,959	RESEARCH
(130) REGENTS OF THE UNIV OF CA DAVIS P O BOX 743739 LOS ANGELES,CA90074	94-6036494	STATE GOVT	829,780	RESEARCH
(131) REGENTS OF THE UNIV OF CA RIVERSID 900 UNIVERSITY AVE UCR CASHIERS OFF RIVERSIDE,CA92521	95-6006142	STATE GOVT	13,756	RESEARCH
(132) REGENTS OF THE UNIVERSITY OF CALIFO PO BOX 748872 LOS ANGELES,CA90074	94-6036493	STATE GOVT	1,993,100	RESEARCH
(133) REGENTS OF THE UNIVERSITY OF COLORA PO BOX 910220 SPONSORED PROJECTS AC DENVER,CO80291	84-6000555	STATE GOVT	399,131	RESEARCH
(134) REGENTS OF THE UNIVERSITY OF MINNES NW 5957 PO BOX 1450 MINNEAPOLIS,MN55485	41-6007513	STATE GOVT	249,612	RESEARCH
(135) REGENTS UNIV OF CA LOS ANGELES 405 HILGARD AVE BOX 957089 1125 M LOS ANGELES,CA90095	95-6006143	STATE GOVT	2,406,437	RESEARCH
(136) RESEARCH FOUNDATION FOR MENTAL HYGI 150 BROADWAY 301 ACCOUNTS RECEIVA MENANDS,NY12204	14-1410842	501 C 3	27,440	RESEARCH
(137) RESEARCH FOUNDATION FOR STATE UNIVE P O BOX 9 ALBANY,NY12201	14-1368361	501 C 3	109,571	RESEARCH
(138) RESEARCH FOUNDATION OF THE CITY UNI 230 WEST 41ST STREET 7TH FLOOR NEW YORK,NY10036	13-1988190	501 C 3	53,037	RESEARCH
(139) RHODE ISLAND HOSPITAL 167 POINT ST BX42 CORO EAST STE 1A PROVIDENCE,RI02903	05-0258954	501 C 3	256,827	RESEARCH
(140) RMC RESEARCH CORPORATION 1501 WILSON BLVD SUITE 400 ARLINGTON,VA22209	52-0819071		236,427	RESEARCH
(141) ROCHESTER INSTITUTE OF TECHNOLOGY 25 LOMB MEMORIAL DRIVE ROCHESTER,NY14623	16-0743140	501 C 3	20,338	RESEARCH
(142) ROCKY MOUNTAIN INSTITUTE 2490 JUNCTION PLACE STE 200 BOULDER,CO80301	74-2244146	501 C 3	93,279	RESEARCH
(143) ROWAN UNIVERSITY 201 MULLICA HILL ROAD GLASSBORO,NJ08028	22-2764819	STATE GOVT	39,440	RESEARCH
(144) RTX CORPORATION 411 SILVER LANE EAST HARTFORD,CT06118	06-0570975		120,136	RESEARCH
(145) RUSH UNIVERSITY MEDICAL CENTER 1700 W VAN BUREN STREET 277 CHICAGO,IL60612	36-2174823	501 C 3	308,332	RESEARCH
(146) RUTGERS THE STATE UNIVERSITY 33 KNIGHTSBRIDGE ROAD 2ND FLOOR G PISCATAWAY,NJ08854	22-6001086	501 C 3	98,879	RESEARCH
(147) SAN FRANCISCO STATE UNIVERSITY 1600 HOLLOWAY AVE BO ADM155 SAN FRANCISCO,CA94132	93-1137247	501 C 3	7,588	RESEARCH
(148) SILVERCLOUD HEALTH INC 75 STATE STREET 26TH FL AR BOSTON,MA02109	42-1777595		7,717	RESEARCH
(149) SMITHSONIAN ASTROPHYSICAL OBSERVATO 24351 NETWORK PL SAO A/R CLEARING CHICAGO,IL60673	53-0206027	501 C 3	70,000	RESEARCH
(150) SOUTH FLORIDA VETERANS AFFAIRS FOUN 1201 NW 16TH STREET 2A103 MIAMI,FL33125	65-0207903	501 C 3	6,159	RESEARCH
(151) SOUTHWEST RESEARCH INSTITUTE 6220 CULEBRA ROAD BLDG 160 AR SAN ANTONIO,TX78238	74-1070544	501 C 3	257,371	RESEARCH
(152) ST LOUIS UNIVERSITY 3700 W PINE MALL FUSZ MEMORIAL HALL ST LOUIS,MO63103	43-0654872	501 C 3	9,135	RESEARCH
(153) STATE OF MARYLAND 4101 CHESAPEAKE BLDG CONTRACT GR COLLEGE PARK,MD20742	52-6002033	STATE GOVT	1,443,151	RESEARCH
(154) STATE OF MISSISSIPPI-UNIVERSITY OF 2500 NORTH STATE STREET JACKSON,MS39216	64-6008520	STATE GOVT	130,172	RESEARCH
(155) STATE OF RHODE ISLAND 3 CAPITOL HILL ACOLELLA RIDOH PROVIDENCE,RI02908	05-6000522	501 C 3	26,456	RESEARCH
(156) STATE OF SOUTH DAKOTA 414 E CLARK ST GRANTS ACCT 203 SLAG VERMILLION,SD57069	46-6000364	STATE GOVT	128,665	RESEARCH
(157) SUTTER BAY HOSPITALS 475 BRANNAN STREET SUITE 130 SAN FRANCISCO,CA94107	94-0562680	501 C 3	924,491	RESEARCH
(158) SYNTIRON LLC 1000 WESTGATE DR SUITE 162 SAINT PAUL,MN55114	20-1453839		705,319	RESEARCH
(159) SYRACUSE UNIVERSITY 119 BOWNE HALL BURSAR OPERATIONS SYRACUSE,NY13244	15-0532081	501 C 3	108,938	RESEARCH
(160) TELEDYNE FLIR COMMERCIAL SYSTEMS IN 6769 HOLLISTER AVENUE GOLETA,CA93117	77-0423382		128,000	RESEARCH
(161) TEMPLE UNIVERSITY OF THE COMMONWEAL POB 22432 RESEARCH ADM POST AWARD T NEW YORK,NY10087	23-1365971	501 C 3	307,677	RESEARCH
(162) TERC INC 2067 MASSACHUSETTS AVENUE CAMBRIDGE,MA02140	04-6134355	501 C 3	101,683	RESEARCH
(163) TEXAS A&M ENGINEERING EXPERIMENT ST 400 HARVEY MITCHELL PKWY STE 300 COLLEGE STATION,TX77845	74-1974733	501 C 3	186,924	RESEARCH
(164) TEXAS A&M UNIVERSITY 400 HARVEY MITCHELL PKY SO STE 300 COLLEGE STATION,TX77845	74-6000531	STATE GOVT	7,126	RESEARCH
(165) TEXAS A&M UNIVERSITY AT GALVESTON 400 HARVEY MITCHELL PKWY S STE 300 COLLEGE STATION,TX77845	74-2125225	STATE GOVT	38,222	RESEARCH
(166) THE ADLER PLANETARIUM 1300 S DUSABLE LAKE SHORE DR CWILSO CHICAGO,IL60605	36-6210902	501 C 3	25,352	RESEARCH
(167) THE BRIGHAM & WOMENS HOSPITAL INC PO BOX 3887 BANK OF AMERICA NA BOSTON,MA02241	04-2312909	501 C 3	1,202,450	RESEARCH
(168) THE BROAD INSTITUTE INC 415 MAIN STREET NE30-7031 CAMBRIDGE,MA02142	26-3428781	501 C 3	1,741,710	RESEARCH
(169) THE FLORIDA STATE UNIVERSITY POBOX 3064166 874 TRADITIONS WAY TALLAHASSEE,FL32306	59-1961248	STATE GOVT	353,886	RESEARCH
(170) THE GENERAL HOSPITAL CORPORATION PO BOX 3829 BOSTON,MA02241	04-2697983	501 C 3	5,102,054	RESEARCH
(171) THE GEORGE WASHINGTON UNIVERSITY PO BOX 829896 PHILADELPHIA,PA19182	53-0196584	501 C 3	5,909	RESEARCH
(172) THE JACKSON LABORATORY 90260 COLLECTION CTR DR BANK OF AME CHICAGO,IL60693	01-0211513	501 C 3	800,066	RESEARCH
(173) THE JOHN B PIERCE LABORATORY INC 290 CONGRESS AVE NEW HAVEN,CT06519	06-0646780	501 C 3	8,608	RESEARCH
(174) THE MCLEAN HOSPITAL CORPORATION PO BOX 3951 BOSTON,MA02241	04-2697981	501 C 3	375,715	RESEARCH
(175) THE MENTAL HEALTH CTR OF GREATER MA 401 CYPRESS STREET MANCHESTER,NH03103	02-0258994	501 C 3	53,457	RESEARCH
(176) THE METHODIST HOSPITAL RESEARCH INS P O BOX 4805 HOUSTON,TX77210	87-0721923	501 C 3	231,864	RESEARCH
(177) THE MGH INSTITUTE OF HEALTH PROFESS 399 REVOLUTION DR 7TH FL STE 745 SOMERVILLE,MA02145	04-2868893	501 C 3	133,289	RESEARCH
(178) THE MIRIAM HOSPITAL 167 POINT ST BX 42 CORO EAST SUITE PROVIDENCE,RI02903	05-0258905	501 C 3	42,370	RESEARCH
(179) THE MITCHELL GROUP INC 1816 11TH STREET NW WASHINGTON,DC20001	52-1467119	501 C 3	17,567	RESEARCH
(180) THE REGENTS OF THE UNIVERSITY OF CA PO BOX 741539 LOS ANGELES,CA90074	94-6002123	STATE GOVT	2,203,113	RESEARCH
(181) THE REGENTS OF THE UNIVERSITY OF CA 228 ALDRICH HALL SUITE 200 IRVINE,CA92697	95-2226406	STATE GOVT	119,316	RESEARCH
(182) THE REGENTS OF THE UNIVERSITY OF MI BOX 223131 PITTSBURGH,PA15251	38-6006309	STATE GOVT	1,756,322	RESEARCH
(183) THE RESEARCH INSTITUTE AT NATIONWID PO BOX 78000 DEPT 781653 DETROIT,MI48278	31-6056230	501 C 3	34,989	RESEARCH
(184) THE SPAULDING REHABILITATION HOSPIT 399 REVOLUTION DR 7TH FL RESER MNGT SOMERVILLE,MA02145	04-2551124	501 C 3	39,357	RESEARCH
(185) THE THRESHOLDS P O BOX 87618 DEPT 10371 CHICAGO,IL60680	36-2518901	501 C 3	137,127	RESEARCH
(186) THE TRUSTEES OF COLUMBIA UNIVERSITY PO BOX 29789 NEW YORK,NY10087	13-5598093	501 C 3	1,001,444	RESEARCH
(187) THE TRUSTEES OF PURDUE UNIVERSITY 23510 NETWORK PLACE AP SPS CHICAGO,IL60673	35-6002041	STATE GOVT	21,643	RESEARCH
(188) THE UNIVERSITY OF ALABAMA IN HUNTSV 301 SPARKMAN DR ATTN CASHIER HUNTSVILLE,AL35899	63-0520830	STATE GOVT	216,474	RESEARCH
(189) THE UNIVERSITY OF ARIZONA PO BOX 41867 TUCSON,AZ85717	74-2652689	STATE GOVT	76,357	RESEARCH
(190) THE UNIVERSITY OF CENTRAL FLORIDA B PO BOX 160118 ORLANDO,FL32816	59-2924021	STATE GOVT	116,507	RESEARCH
(191) THE UNIVERSITY OF CHICAGO 6054 SO DREXEL AVE STE300 SAA FS CHICAGO,IL60637	36-2177139	501 C 3	221,162	RESEARCH
(192) THE UNIVERSITY OF IOWA 201 S CLINTON STREET 2410 UCC IOWA CITY,IA52242	42-6004813	STATE GOVT	1,691,503	RESEARCH
(193) THE UNIVERSITY OF SOUTH CAROLINA 1600 HAMPTON ST RM612 CONTR/GRAND COLUMBIA,SC29208	57-6001153	501 C 3	24,472	RESEARCH
(194) THE UNIVERSITY OF TEXAS AT AUSTIN 110 INNER CAMPUS DRIVE STOP K5300 AUSTIN,TX78712	74-6000203	STATE GOVT	494,240	RESEARCH
(195) THE URBAN INSTITUTE 500 L ENFANT PLAZA SW WASHINGTON,DC20024	52-0880375	501 C 3	10,375	RESEARCH
(196) THE VANDERBILT UNIVERSITY PMB 406310 2301 VANDERBUILT PLACE NASHVILLE,TN37240	62-0476822	501 C 3	197,013	RESEARCH
(197) TOPODYNE LLC 14071 PEYTON DR BOX 1844 CHINO HILLS,CA91709	84-3922564		116,271	RESEARCH
(198) TOUGALOO COLLEGE 500 W COUNTY LN RD FIN ADM TOUGALOO,MS39174	64-0303093	501 C 3	14,194	RESEARCH
(199) TRUSTEES OF BOSTON COLLEGE 140 COMMONWEALTH AVE OSP CHESTNUT HILL,MA02467	04-2103545	501 C 3	22,964	RESEARCH
(200) TRUSTEES OF DARTMOUTH COLLEGE 11 ROPE FERRY RD 6210 HANOVER,NH03755	02-0222111	501 C 3	209,359	RESEARCH
(201) TRUSTEES OF TUFTS COLLEGE 80 GEORGE STREET MEDORD,MA02155	04-2103634	501 C 3	835,535	RESEARCH
(202) TUFTS MEDICAL CENTER INC 800 WASHINGTON ST BOX 453 RESEARC BOSTON,MA02111	04-3400617	501 C 3	401,416	RESEARCH
(203) TUSKEGEE UNIVERSITY 1200 W MONTGOMERY RD 204 KRESGE CTR TUSKEGEE,AL36088	63-0288878	501 C 3	35,702	RESEARCH
(204) UH-OH LABS INC 3485 VICTOR STREET SANTA CLARA,CA95054	82-4506827		953,787	RESEARCH
(205) UNIVERSITY OF TEXAS AT SAN ANTONIO 1 UTSA CIRCLE FSUB FLN 10408 SAN ANTONIO,TX78249	74-1717115	STATE GOVT	14,690	RESEARCH
(206) UNIVERSITY OF ALABAMA AT BIRMINGHAM 1720 2ND AVE S AB 990 GRANTS CO BIRMINGHAM,AL35294	63-6005396	501 C 3	1,956,820	RESEARCH
(207) UNIVERSITY OF CINCINNATI POBOX 932641 SRS ACCOUNTING CLEVELAND,OH44193	31-6000989	STATE GOVT	111,848	RESEARCH
(208) UNIVERSITY OF CONNECTICUT 438 WHITNEY RD EXT UNIT1133 SPS STORRS,CT06269	06-0772160	STATE GOVT	293,418	RESEARCH
(209) UNIVERSITY OF DELAWARE 30 LOVETT AVE CASHIERS OFFICE-SPONS NEWARK,DE19716	51-6000297	501 C 3	163,757	RESEARCH
(210) UNIVERSITY OF FLORIDA PO BOX 931297 CONTRACTS GRANTS ATLANTA,GA32611	59-6002052	STATE GOVT	346,009	RESEARCH
(211) UNIVERSITY OF GEORGIA RESEARCH FOUN 310 EAST CAMPUS RD TUCKER HALLRM411 ATHENS,GA30602	58-1353149	501 C 3	338,049	RESEARCH
(212) UNIVERSITY OF HAWAII 2440 CAMPUS RD BOX 368 HONOLULU,HI96822	99-6000354	501 C 3	33,052	RESEARCH
(213) UNIVERSITY OF HOUSTON POB 988 TREASURERS OFFICE HOUSTON,TX77001	74-6001399	STATE GOVT	85,345	RESEARCH
(214) UNIVERSITY OF KANSAS MEDICAL CENTER 3901 RAINBOW BLVD MS 1039 KANSAS CITY,KS66160	48-1108830	501 C 3	83,164	RESEARCH
(215) UNIVERSITY OF KENTUCKY RESEARCH FOU P O BOX 931113 CLEVELAND,OH44193	61-6033693	501 C 3	71,614	RESEARCH
(216) UNIVERSITY OF LOUISVILLE 300 E MARKET STREET 300 SPONSORED LOUISVILLE,KY40202	61-1014882	501 C 3	26,713	RESEARCH
(217) UNIVERSITY OF MARYLAND BALTIMORE FO 620 W LEXINGTON STREET 2ND FLOOR BALTIMORE,MD21201	31-1678679	501 C 3	35,753	RESEARCH
(218) UNIVERSITY OF MASSACHUSETTS 285 OLD WESTPORT RD CTCARNEY LIBRAR NORTH DARTMOUTH,MA02747	04-3167352	STATE GOVT	1,955,376	RESEARCH
(219) UNIVERSITY OF MIAMI PO BOX 405803 OFFICE OF RESEARCH AD ATLANTA,GA30384	59-0624458	501 C 3	37,654	RESEARCH
(220) UNIVERSITY OF MISSOURI PO BOX 807012 KANSAS CITY,MO64180	43-6003859	STATE GOVT	279,119	RESEARCH
(221) UNIVERSITY OF NEW ENGLAND 11 HILLS BEACH RD OFFICE OF FISCAL BIDDEFORD,ME04005	01-0211810	501 C 3	37,501	RESEARCH
(222) UNIVERSITY OF NEW MEXICO 1 UNIV OF NEW MEXICO MSC 09 5222 ALBUQUERQUE,NM87131	85-6000642	STATE GOVT	153,657	RESEARCH
(223) UNIVERSITY OF NORTH CAROLINA - CHAP PO BOX 402420 ATLANTA,GA30384	56-6001393	501 C 3	489,000	RESEARCH
(224) UNIVERSITY OF NORTH CAROLINA GREENS PO BOX 26170 ACCOUNTING SERVICES GREENSBORO,NC27402	56-6001468	501 C 3	16,503	RESEARCH
(225) UNIVERSITY OF NOTRE DAME DU LAC 836A GRACE HALL RSPA NOTRE DAME,IN46556	35-0868188	501 C 3	411,221	RESEARCH
(226) UNIVERSITY OF OREGON PO BOX 3237 EUGENE,OR97403	46-4727800	STATE GOVT	138,951	RESEARCH
(227) UNIVERSITY OF PENNSYLVANIA PO BOX 785541 PHILADELPHIA,PA19178	23-1352685	501 C 3	128,063	RESEARCH
(228) UNIVERSITY OF PITTSBURGH PO BOX 640458 PITTSBURGH,PA15264	25-0965591	STATE GOVT	282,505	RESEARCH
(229) UNIVERSITY OF ROCHESTER PO BOX 278832 ROCHESTER,NY146278832	16-0743209	501 C 3	469,166	RESEARCH
(230) UNIVERSITY OF SOUTHERN CALIFORNIA 3500 SO FIGUEROA ST STE102 SPA LOS ANGELES,CA90089	95-1642394	501 C 3	223,222	RESEARCH
(231) UNIVERSITY OF TEXAS AT ARLINGTON POB 739549 GRANT CONTRACT ACCOUNT DALLAS,TX75373	75-6000121	501 C 3	79,633	RESEARCH
(232) UNIVERSITY OF TEXAS HEALTH SCIENCE PO BOX 1898 SAN ANTONIO,TX78297	74-1586031	STATE GOVT	683,232	RESEARCH
(233) UNIVERSITY OF TEXAS HEALTH SCIENCE PO BOX 301418 FINANCIAL ADMIN DALLAS,TX75303	74-1761309	STATE GOVT	458,657	RESEARCH
(234) UNIVERSITY OF TEXAS SOUTHWESTERN ME PO BOX 841765 DALLAS,TX75284	75-6002868	501 C 3	19,875	RESEARCH
(235) UNIVERSITY OF UTAH 201 S PRESIDENTS CIR ROOM 406 GRANT SALT LAKE CITY,UT84112	87-6000525	STATE GOVT	204,544	RESEARCH
(236) UNIVERSITY OF VERMONT & STATE AGRIC PO BOX 1389 WILLISTON,VT05495	03-0179440	501 C 3	43,105	RESEARCH
(237) UNIVERSITY OF WASHINGTON 12455 COLLECTIONS DRIVE CHICAGO,IL60693	91-6001537	501 C 3	696,804	RESEARCH
(238) UNIVERSITY OF WISCONSIN DRAWER 538 GAR ACCT OFFICE FOR RE MILWAUKEE,WI53278	39-1805963	STATE GOVT	86,080	RESEARCH
(239) UNIVERSITY SYSTEM OF NEW HAMPSHIRE 51 COLLEGE ROAD SERV BUILD RM 109 DURHAM,NH03824	02-6000937	501 C 3	97,483	RESEARCH
(240) UT MD ANDERSON CANCER CENTER 1515 HOLCOMBE BLVD HOUSTON,TX77030	74-6001118	STATE GOVT	169,129	RESEARCH
(241) UTAH STATE UNIVERSITY LB 410027 PO BOX 35146 SEATTLE,WA98124	87-6000528	501 C 3	30,635	RESEARCH
(242) VANDERBILT UNIVERSITY POBOX 121236 DEPT 1236 VUMC DALLAS,TX75312	35-2528741	501 C 3	1,975,362	RESEARCH
(243) VAXCYTE INC 825 INDUSTRIAL ROAD SUITE 300 SAN CARLOS,CA94070	46-4233385		108,404	RESEARCH
(244) VEDANTA BIOSCIENCES INC 19 BLACKSTONE STREET CAMBRIDGE,MA02139	27-5440202		1,916,775	RESEARCH
(245) VERMONT PUBLIC HEALTH ASSOCIATION I PO BOX 732 BURLILNGTON,VT05401	02-0608866	501 C 3	12,057	RESEARCH
(246) VETERANS EDUCATION AND RESEARCH ASS POB 4655 215 N MAIN ST ASSOCIATION WHITE RIVER JUNCTION,VT05001	22-3091219	501 C 3	58,794	RESEARCH
(247) VIRGINIA POLYTECHNIC INSTITUTE & ST N END CTRSTE 4200300 TURNER ST NW BLACKSBURG,VA24061	54-6001805	STATE GOVT	399,595	RESEARCH
(248) VISBY MEDICAL INC 3010 NORTH FIRST STREET SAN JOSE,CA95134	46-1420216		3,625,868	RESEARCH
(249) WAKE FOREST UNIVERSITY MEDICAL CENTER BLVD OFFICE OF SPON WINSTONSALEM,NC27157	56-0532138	501 C 3	52,091	RESEARCH
(250) WAKE FOREST UNIVERSITY HEALTH SCIEN PO BOX 604096 OSP AHWOSP CHARLOTTE,NC28260	22-3849199	501 C 3	54,223	RESEARCH
(251) WASHINGTON UNIVERSITY 7425 FORSYTH STE 102 SPONSORED PROJ ST LOUIS,MO63105	43-0653611	501 C 3	328,369	RESEARCH
(252) WAYNE STATE UNIVERSITY 5057 WOODWARD SUITE 13202 DETROIT,MI48202	38-6028429	501 C 3	137,553	RESEARCH
(253) WELLESLEY COLLEGE 106 CENTRAL STREET WELLESLEY,MA02481	04-2103637	501 C 3	79,975	RESEARCH
(254) WORCESTER POLYTECHNIC INSTITUTE 100 INSTITUTE RD WORCESTER,MA01609	04-2121659	501 C 3	113,170	RESEARCH
(255) YALE UNIVERSITY PO BOX 1873 NEW HAVEN,CT06508	06-0646973	501 C 3	373,983	RESEARCH
(256) YESHIVA UNIVERSITY 1300 MORRIS PARK AVE BELFER 1108 BRONX,NY10461	13-1624225	501 C 3	769,926	RESEARCH
(257) ZABBIO INC 11760 SORRENTO VALLEY ROAD SUITE A SAN DIEGO,CA92121	82-2969965		772,374	RESEARCH
(258) ZETTA AI LLC 108 NOTO DRIVE SHERRILL,NY134611470	82-3273240		59,672	RESEARCH
(259) FENWAY COMMUNITY DEVELOPMENT CORPORATION 70 BURBANK STREET BOSTON,MA02115	04-2666507	501 C 3	5,092	CHARITABLE DONATION
(260) SOCCER UNITY PROJECT INC PO BOX 180833 BOSTON,MA02118	90-0623475	501 C 3	10,000	CHARITABLE DONATION
(261) MARKED BY COVID 5716 CORSA AVE SUITE 110 WESTLAKE VILLAGE,CA91362	85-2816293	501 C 3	12,000	CHARITABLE DONATION
(262) INSTITUTE OF CONTEMPORARY ART INC 25 HARBOR SHORE DRIVE BOSTON,MA02210	04-2104327	501 C 3	15,000	CHARITABLE DONATION
(263) ESPLANADE ASSOCIATION INC 575 BOYLSTON STREET SUITE 4R BOSTON,MA02116	04-3550635	501 C 3	10,000	CHARITABLE DONATION
(264) ROSE FITZGERALD KENNEDY GREENWAY CONSERVANCY INC 185 KNEELAND STREET BOSTON,MA02111	20-1678932	501 C 3	10,000	CHARITABLE DONATION
(265) BOSTON MUNICIPAL RESEARCH BUREAU INC 333 WASHINGTON STREET 854 BOSTON,MA02108	22-2673755	501 C 3	9,000	CHARITABLE DONATION
(266) WEST END HOUSE INC 105 ALLSTON STREET ALLSTON,MA02134	04-2105825	501 C 3	10,000	CHARITABLE DONATION
(267) PHYSICIAN HEALTH SERVICES INC 860 WINTER STREET WALTHAM,MA02451	22-3234975	501 C 3	10,000	CHARITABLE DONATION
(268) EVIDENCE ACTION INC 1133 CONNECTICUT AVENUE NW SUITE 200 WASHINGTON,DC20036	90-0874591	501 C 3	50,000	CHARITABLE DONATION

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

231

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

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

Cat. No. 50055P

Schedule I (Form 990) Rev. 1-2025

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) TUITION AND AUXILIARY	20890	20,826,699	696,281,078	COST	TUITION AND AUXILIARY OFFSET
(2) STIPEND AND FELLOWSHIP	2249	39,920,216
(3) PRIZES AND AWARDS	841	1,701,040
(4) HONORARIUM	2295	1,939,053
(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:

THE UNIVERSITY ASSIGNS RESPONSIBILITY FOR MONITORING THE USE OF RESEARCH FUNDS TO THE OFFICE OF SPONSORED PROGRAMS, POST AWARD. THIS OFFICE MONITORS ALL DOMESTIC SUBRECIPIENT GRANT MAKING ACTIVITY, INCLUDING COMPLIANCE WITH ALL APPLICABLE REGULATIONS. WHEN APPROVING INVOICE PAYMENTS CHARGED TO RESEARCH GRANTS, THE VALIDITY OF EXPENSES AND THE ACHIEVEMENT OF SCIENTIFIC AND TECHNICAL PROGRESS ARE VERIFIED BY THE PRINCIPAL INVESTIGATOR OR HIS/HER DESIGNEE.

SCHEDULE I, PART III:

BOSTON UNIVERSITY SCHOOLS, COLLEGES, AND THE OFFICE OF FINANCIAL ASSISTANCE MAKE EVERY EFFORT TO ASSIST STUDENTS WITH CALCULATED FINANCIAL ELIGIBILITY AND HIGH ACADEMIC ACHIEVEMENT, MEASURED AGAINST THE CREDENTIALS OF OTHER ACCEPTED STUDENTS. A STUDENT'S ACADEMIC RECORD IS AN IMPORTANT FACTOR IN DETERMINING ELIGIBILITY FOR BOSTON UNIVERSITY SCHOLARSHIPS AND NEED-BASED GRANTS. KEY INDICATORS SUCH AS HIGH SCHOOL GRADE POINT AVERAGE (GPA), RANK IN CLASS, AND STANDARDIZED TEST SCORES ARE CONSIDERED, AS WELL AS THE STRENGTH OF THE STUDENT'S ACADEMIC PROGRAM AND EXTRACURRICULAR ACTIVITIES. ALL GRANTS AND OTHER STUDENT FINANCIAL AID IS DESIGNATED FOR EDUCATIONAL PURPOSES ONLY. STARTING IN SEPTEMBER 2020, BOSTON UNIVERSITY MEETS 100% OF THE DEMONSTRATED FINANCIAL NEED FOR ADMITTED, FIRST-YEAR STUDENTS WHO ARE U.S. CITIZENS OR PERMANENT RESIDENTS.

Schedule I (Form 990) Rev. 1-2025

Additional Data

Software ID:
Software Version:

- TIN:

Schedule J
(Form 990)
(Rev. January 2025)

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

Open to Public Inspection

Name of the organization

TRUSTEES OF BOSTON UNIVERSITY

Employer identification number

04-2103547

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

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

Yes

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

If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.

Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:

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

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

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

For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:

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

Yes

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

Yes

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

Yes

Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III ..........................

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) (Rev. 1-2025)

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)
1MELISSA L GILLIAM PRESIDENT (AS OF 7/1/24)	(i) (ii)	1,135,549 ------------- 0	0 ------------- 0	214,540 ------------- 0	0 ------------- 0	354,211 ------------- 0	1,704,300 ------------- 0	0 ------------- 0
2PUSHKAR MEHRA PROFESSOR & ORAL SURGEON	(i) (ii)	546,952 ------------- 0	890,044 ------------- 0	80,276 ------------- 0	40,022 ------------- 0	34,461 ------------- 0	1,591,755 ------------- 0	0 ------------- 0
3CLARISSA C HUNNEWELL CHIEF INVESTMENT OFFICER	(i) (ii)	902,169 ------------- 0	612,358 ------------- 0	6,799 ------------- 0	40,022 ------------- 0	22,991 ------------- 0	1,584,339 ------------- 0	0 ------------- 0
4CHADI TANNOURY PROFESSOR & PHYSICIAN	(i) (ii)	0 ------------- 1,374,354	0 ------------- 0	0 ------------- 1,710	0 ------------- 29,672	0 ------------- 31,654	0 ------------- 1,437,390	0 ------------- 0
5XINNING LI PROFESSOR & PHYSICIAN	(i) (ii)	0 ------------- 1,205,144	0 ------------- 0	0 ------------- 125,499	0 ------------- 36,572	0 ------------- 31,670	0 ------------- 1,398,885	0 ------------- 0
6WILLIAM CREEVY PROFESSOR & PHYSICIAN	(i) (ii)	0 ------------- 1,014,030	0 ------------- 189,140	0 ------------- 23,747	0 ------------- 40,022	0 ------------- 31,583	0 ------------- 1,298,522	0 ------------- 0
7KENNETH W FREEMAN FMR INT PRES (8/1/23-6/30/24) & PROF	(i) (ii)	1,061,339 ------------- 0	0 ------------- 0	33,639 ------------- 0	63,022 ------------- 0	22,480 ------------- 0	1,180,480 ------------- 0	0 ------------- 0
8KAREN H ANTMAN MD MED. CAMPUS PROVOST (UNTIL 6/30/25)	(i) (ii)	1,090,223 ------------- 0	0 ------------- 0	6,881 ------------- 0	40,022 ------------- 0	14,974 ------------- 0	1,152,100 ------------- 0	0 ------------- 0
9ROBERT A BROWN FMR PRESIDENT (UNTIL 7/31/23) & PROF	(i) (ii)	984,047 ------------- 0	0 ------------- 0	23,230 ------------- 0	40,022 ------------- 0	25,657 ------------- 0	1,072,956 ------------- 0	0 ------------- 0
10JEAN MORRISON FMR UNI PROV (UNTIL 6/30/23) & PROF	(i) (ii)	843,134 ------------- 0	0 ------------- 0	7,693 ------------- 0	40,022 ------------- 0	29,969 ------------- 0	920,818 ------------- 0	0 ------------- 0
11KENNETH R LUTCHEN INT UNI PROV (7/1/23-6/30/24) & PROF	(i) (ii)	785,181 ------------- 0	0 ------------- 0	7,180 ------------- 0	40,022 ------------- 0	40,808 ------------- 0	873,191 ------------- 0	0 ------------- 0
12ERIKA GEETTER SR VP, GEN COUNSEL, SECRETARY	(i) (ii)	792,591 ------------- 0	0 ------------- 0	5,900 ------------- 0	40,022 ------------- 0	2,893 ------------- 0	841,406 ------------- 0	0 ------------- 0
13GARY W NICKSA FMR SR VP CFO TREAS (UNTIL 12/31/23)& CONS TO PRES	(i) (ii)	744,298 ------------- 0	0 ------------- 0	6,747 ------------- 0	40,022 ------------- 0	30,634 ------------- 0	821,701 ------------- 0	0 ------------- 0
14GLORIA WATERS UNIVERSITY PROVOST (AS OF 7/1/24)	(i) (ii)	708,161 ------------- 0	0 ------------- 0	6,662 ------------- 0	40,022 ------------- 0	2,060 ------------- 0	756,905 ------------- 0	0 ------------- 0
15DEREK HOWE SR VP OPS, ASSISTANT TREASURER	(i) (ii)	617,885 ------------- 0	0 ------------- 0	1,590 ------------- 0	40,022 ------------- 0	24,342 ------------- 0	683,839 ------------- 0	0 ------------- 0
16NICOLE K TIRELLA SR VP, CFO, & TREASURER	(i) (ii)	507,311 ------------- 0	0 ------------- 0	560 ------------- 0	29,672 ------------- 0	32,992 ------------- 0	570,535 ------------- 0	0 ------------- 0
17KEVIN E SMITH TRUSTEE & PROFESSOR	(i) (ii)	215,608 ------------- 0	0 ------------- 0	16,338 ------------- 0	26,684 ------------- 0	11,289 ------------- 0	269,919 ------------- 0	0 ------------- 0

Schedule J (Form 990) (Rev. 1-2025)

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	(1) REFER TO SCHEDULE J, PART II DISCLOSURE RELATED TO THE HOUSING ALLOWANCE PROVIDED TO PRESIDENT GILLIAM. PROVOST WATERS, FORMER PRESIDENT AD INTERIM KENNETH FREEMAN, AND PROVOST AD INTERIM KENNETH LUTCHEN WERE NOT REQUIRED TO AND THEREFORE DID NOT LIVE IN UNIVERSITY RESIDENCES DURING THEIR TERM. (2) FIRST-CLASS TRAVEL: IN ACCORDANCE WITH THE UNIVERSITY'S TRAVEL AND BUSINESS EXPENSE GUIDELINES, ALL EMPLOYEES ARE REIMBURSED FOR ECONOMY AIRFARE. EXCEPTIONS FOR TRAVEL INVOLVING AN EXTENDED PERIOD OF TIME ARE PERMITTED IN ACCORDANCE WITH THE TERMS OF THE UNIVERSITY'S TRAVEL AND BUSINESS EXPENSE GUIDELINES. THE PRESIDENT'S EMPLOYMENT AGREEMENT ALLOWS FOR FIRST-CLASS TRAVEL. TRAVEL FOR BUSINESS PURPOSES, INCLUDING FIRST-CLASS TRAVEL, IS NOT INCLUDED IN TAXABLE WAGES. PRESIDENT GILLIAM AND FORMER PRESIDENT AD INTERIM FREEMAN ARE THE ONLY INDIVIDUALS REPORTED ON FORM 990, PART VII WHO TRAVELED FIRST-CLASS DURING CALENDAR YEAR 2024. (3) TRAVEL FOR COMPANIONS: IN ACCORDANCE WITH THE UNIVERSITY'S TRAVEL AND BUSINESS EXPENSE GUIDELINES, BOSTON UNIVERSITY ALLOWS COMPANION TRAVEL FOR BONA FIDE BUSINESS PURPOSES. ALL SUCH CASES REQUIRE PRIOR WRITTEN APPROVAL OF AN AUTHORIZED SENIOR EXECUTIVE. THE PRESIDENT'S EMPLOYMENT AGREEMENT ALLOWS FOR SPOUSAL TRAVEL. COMPANION TRAVEL FOR BUSINESS PURPOSES IS NOT INCLUDED IN TAXABLE WAGES. PRESIDENT GILLIAM WAS THE ONLY INDIVIDUAL REPORTED ON FORM 990, PART VII WHO UTILIZED COMPANION TRAVEL DURING CALENDAR YEAR 2024.
PART I, LINE 4B	(1) REFER TO SCHEDULE J, PART II DISCLOSURE RELATED TO THE CONTRIBUTIONS MADE BY THE UNIVERSITY TO AN IRC 457(B) SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN.
PART I, LINE 6	A PORTION OF PUSHKAR MEHRA'S COMPENSATION (AS REPORTED IN SCHEDULE J, PART II, COLUMN (B)(II)) IS BASED ON A PERCENTAGE OF BOSTON UNIVERSITY'S HENRY M. GOLDMAN SCHOOL OF DENTAL MEDICINE ORAL MAXILLOFACIAL SURGERY GROUP REVENUES LESS OPERATING EXPENSES. DR. WILLIAM CREEVY RECEIVES AN ANNUAL BONUS PAYMENT BASED ON PRE-DETERMINED ANNUAL PERFORMANCE METRICS, WITH OPERATING INCOME AS ONE OF THE COMPONENTS.
PART I, LINE 7	AS THE UNIVERSITY'S CHIEF INVESTMENT OFFICER, CLARISSA HUNNEWELL IS ELIGIBLE FOR INCENTIVE COMPENSATION, AT THE APPROVAL OF THE BOARD OF TRUSTEES, BASED IN PART UPON HER SUCCESS IN ACHIEVING CERTAIN PERFORMANCE BENCHMARKS. THIS IS A COMMON COMPONENT OF THE COMPENSATION PACKAGE FOR SUCH POSITIONS.
SCHEDULE J, PART I	XINNING LI, WILLIAM CREEVY, AND CHADI TANNOURY ARE COMPENSATED UNDER A COMMON PAYMASTER AGREEMENT FOR THEIR CLINICAL WORK AT BOSTON MEDICAL CENTER. PUSHKAR MEHRA IS COMPENSATED THROUGH BOSTON UNIVERSITY'S HENRY M. GOLDMAN SCHOOL OF DENTAL MEDICINE (GDSM) DEPARTMENT OF ORAL & MAXILLOFACIAL SURGERY GROUP FOR HIS CLINICAL WORK AT A GDSM PATIENT TREATMENT CENTER, THE BETH ISRAEL DEACONESS MEDICAL CENTER, INC., AND BOSTON MEDICAL CENTER.
SCHEDULE J, PART II	(1) THIS SCHEDULE INCLUDES EACH OF THE UNIVERSITY'S CURRENT AND FORMER OFFICERS, TRUSTEES, KEY EMPLOYEES, AND FIVE MOST HIGHLY COMPENSATED EMPLOYEES FOR WHOM THE SUM OF CALENDAR YEAR 2024 REPORTABLE COMPENSATION AND OTHER COMPENSATION FROM THE ORGANIZATION AND RELATED ENTITIES WAS GREATER THAN $150,000. (2) PRESIDENT BROWN RETIRED FROM HIS ROLE AS PRESIDENT ON JULY 31, 2023, FOLLOWED BY A SABBATICAL PERIOD THROUGH JULY 31, 2024. DURING HIS SABBATICAL, HE RECEIVED CONTINUATION PAYMENTS OF HIS BASE SALARY OF $1,351,500, CONSISTENT WITH HIS EMPLOYMENT AGREEMENT. EFFECTIVE AUGUST 1, 2024, FOLLOWING HIS SABBATICAL, HE CONTINUED HIS EMPLOYMENT AS A FACULTY MEMBER WITH A BASE SALARY OF $450,000. COMPENSATION EARNED DURING HIS SABBATICAL AND AS A FACULTY MEMBER ARE REPORTED IN COLUMN (B)(I) BASE COMPENSATION. AMOUNTS REPORTED IN SCHEDULE J, PART II, COLUMN (B)(III) AS OTHER REPORTABLE COMPENSATION ALSO INCLUDE CONTRIBUTIONS MADE BY THE UNIVERSITY IN CALENDAR YEAR 2024 TO AN IRC SECTION 457(B) SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN TO PROVIDE FUTURE RETIREMENT BENEFITS TO PRESIDENT BROWN (PART I, LINES 4B RESPONSE) IN THE AMOUNT OF $13,417. (3) PROVOST MORRISON RETIRED FROM HER ROLE AS PROVOST ON JUNE 30, 2023, FOLLOWED BY A SABBATICAL PERIOD THROUGH JUNE 30, 2024. DURING HER SABBATICAL, SHE RECEIVED CONTINUATION PAYMENTS OF HER BASE SALARY OF $975,000, CONSISTENT WITH HER EMPLOYMENT AGREEMENT. EFFECTIVE JULY 1, 2024, FOLLOWING HER SABBATICAL, SHE CONTINUED HER EMPLOYMENT AS A FACULTY MEMBER WITH A BASE SALARY OF $731,250. COMPENSATION EARNED DURING HER SABBATICAL AND AS A FACULTY MEMBER ARE REPORTED IN COLUMN (B)(I) BASE COMPENSATION. (4) PRESIDENT GILLIAM WAS PRESIDENT ELECT FROM JANUARY 15, 2024 TO JUNE 30, 2024 AND THEREAFTER BECAME PRESIDENT. AS PART OF HER AGREEMENT, DR. GILLIAM RECEIVED A $170,000 LUMP SUM PAYMENT IN CALENDAR YEAR 2024, TO BE USED FOR MOVING, LEGAL, AND OTHER TRANSITION RELATED EXPENSES. DURING THE FIRST TWO YEARS EMPLOYMENT, DR. GILLIAM IS ENTITLED TO RECEIVE A CASH SUPPLEMENT EACH PAY PERIOD EQUAL TO THE CONTRIBUTION THAT THE UNIVERSITY WOULD HAVE MADE TO THE UNIVERSITY'S INTERNAL REVENUE CODE ("CODE") SECTION 403(B) PLAN BUT FOR SUCH PLAN'S TWO-YEAR WAITING PERIOD. THE TOTAL PAYMENT IN CALENDAR YEAR 2024 WAS $40,022. AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE UNIVERSITY, PRESIDENT GILLIAM WAS REQUIRED TO LIVE IN A UNIVERSITY RESIDENCE (HOUSING ALLOWANCE SCHEDULE J, PART I, LINE 1A RESPONSE). AMOUNTS REPORTED IN COLUMN (D) INCLUDE, IN ADDITION TO OTHER NON-TAXABLE BENEFITS FOR PRESIDENT GILLIAM, THE ESTIMATED FAIR MARKET RENTAL VALUE OF THE UNIVERSITY-PROVIDED RESIDENCE, BASED UPON AN INDEPENDENT OPINION OF VALUE AND WITHOUT ANY ALLOCATION OR REDUCTION FOR UNIVERSITY USE OF THE PREMISES IN THE AMOUNT OF $325,102 FOR THE ELEVEN AND A HALF MONTHS OF THE CALENDAR YEAR SHE WAS REQUIRED TO RESIDE IN THE UNIVERSITY RESIDENCE AS PRESIDENT-ELECT AND THEN PRESIDENT.

Schedule J (Form 990) (Rev. 1-2025)

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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

Open to Public
Inspection

Name of the organization
TRUSTEES OF BOSTON UNIVERSITY

Employer identification number
04-2103547

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	MASS DEV FIN AGENCY - SERIES U1 U2 U3 U4 U5 U6	04-3431814	57583RWD3	05-15-2008	536,365,000	PARTIAL REF/CAP PROJ/PROP ACQ	X			X		X
B	MASS DEV FIN AGENCY - SER BB-1 BB-2 BB-3 (2016)	04-3431814	57584XWV9	11-08-2016	231,838,996	CAP PROJ/ADV REF 2008 & 2009 BONDS		X		X		X
C	MASS DEV FIN AGENCY - SERIES X (2013)	04-3431814	57583UVL9	04-30-2013	120,736,790	CAPITAL PROJECTS		X		X		X
D	MASS DEV FIN AGENCY - SER FF (2023) AND SER GG (2023)	04-3431814	57584Y5N5	07-12-2023	217,370,795	REFUNDING SERIES DD-1, DD-2, U5A, U5B & PARTIAL X (2019)		X		X		X
	MASS DEV FIN AGENCY - SERIES 2025A SERIES 2025B-2	04-3431814	57585BGP7	03-03-2025	491,249,636	CAP PROJ/PARTIAL TENDER OF SERIES CC (TAXABLE)		X		X		X
	MASS DEV FIN AGENCY - SERIES 2025B-1	04-3431814	57585BGL6	03-03-2025	328,153,172	REFUNDING SERIES AA-1, AA-2, U-2, U-3, & Y		X		X		X

Part Ⅱ

Proceeds

	A		B		C		D
	1 Amount of bonds retired ..................	258,275,000				86,485,000		4,225,000
2 Amount of bonds legally defeased ..............	50,000,000
3 Total proceeds of issue ..................	539,836,174		233,015,994		120,780,965		217,370,795
4 Gross proceeds in reserve funds .............
5 Capitalized interest from proceeds .............	8,265,541		13,678,113
6 Proceeds in refunding escrows ...............
7 Issuance costs from proceeds ...............	848,766		1,035,243		734,856		682,819
8 Credit enhancement from proceeds .............	727,358
9 Working capital expenditures from proceeds .............
10 Capital expenditures from proceeds .............	202,760,050		126,236,514		120,046,109
11 Other spent proceeds .............	335,500,000		105,744,237				216,687,976
12 Other unspent proceeds .............	230,647,094
13 Year of substantial completion .............	2012		2018		2015
	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) (Rev. 1-2025)

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		X		X		X
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government ....	0.420 %		0 %		0 %		0 %
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government .........	0 %		0 %		0 %		0 %
6 Total of lines 4 and 5 .............	0.420 %		0 %		0 %		0 %
7 Does the bond issue meet the private security or payment test? ...		X		X		X		X
8a Has there been a sale or disposition of any of the bond-financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?.............		X		X		X		X
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of. ..
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? .............
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under Regulations sections 1.141-12 and 1.145-2? ........	X		X		X		X

Part Ⅳ

Arbitrage

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? ...		X		X		X		X
2 If "No" to line 1, did the following apply? ....
a Rebate not due yet? .......		X		X		X		X
b Exception to rebate? ........		X		X		X	X
c No rebate due? .........	X		X		X			X
If "Yes" to line 2c, provide in Part Ⅵ the date the rebate computation was performed ......
3 Is the bond issue a variable rate issue? .....	X			X		X		X

Schedule K (Form 990) (Rev. 1-2025)

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 ..........	SEE PART VI
c Term of hedge .........
d Was the hedge superintegrated? ......		X
e Was the hedge terminated? ........		X
5a Were gross proceeds invested in a guaranteed investment contract (GIC)?		X		X		X		X
b Name of provider ..........
c Term of GIC .........
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? ........
6 Were any gross proceeds invested beyond an available temporary period?		X		X		X		X
7 Has the organization established written procedures to monitor the requirements of section 148? ...	X		X		X		X

Part Ⅴ

Procedures To Undertake Corrective Action

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

Part Ⅵ

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

Return Reference	Explanation
SCHEDULE K, PART I:	LINE A: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY (MDFA) - SERIES U-1, U-2, U-3, U-4, U-5, AND U-6 BONDS IN THE AMOUNT $536,365,000 WERE ISSUED TO CURRENTLY REFUND MDFA SERIES R AND MASSACHUSETTS HEFA SERIES Q BONDS IN THE AMOUNT OF $336,365,000. THE BALANCE OF SERIES U PROCEEDS IN THE AMOUNT OF $200,000,000 WERE NEW MONEY BONDS. LINE B: MDFA SERIES BB-1, BB-2, AND BB-3 BONDS IN THE AMOUNT OF $231,838,996 WERE ISSUED TO ADVANCE REFUND AND ULTIMATELY LEGALLY DEFEASED MDFA SERIES U-4, ORIGINALLY ISSUED IN 2008, IN THE AMOUNT OF $50,000,000 AND MDFA SERIES V-1, ORIGINALLY ISSUED IN 2009, IN THE AMOUNT OF $44,000,000. PROCEEDS OF MDFA SERIES BB-1 IN THE AMOUNT OF $125,603,699 WERE NEW MONEY BONDS. LINE D: MDFA SERIES FF AND GG BONDS WERE ISSUED TO CURRENTLY REFUND MDFA SERIES DD-1, DD-2, U5A, U5B AND A PORTIONS OF SERIES X BONDS IN THE AMOUNT OF $218,950,000. LINE A(2): MDFA SERIES 2025B-2 WERE ISSUED TO TENDER FOR A PORTION OF MDFA SERIES CC. LINE B(2): MDFA SERIES 2025B-1 WERE ISSUED TO CURRENTLY REFUND MDFA SERIES AA-1, AA-2, U-2, U-3 AND Y BONDS IN THE AMOUNT OF $284,285,000.
SCHEDULE K, PART II:	LINE 3, COLUMNS A-C: COLUMN A: TOTAL PROCEEDS OF $539,836,174 IS COMPROMISED OF THE ISSUE PRICE IN THE AMOUNT OF $536,365,000 AND INVESTMENT EARNINGS TOTALING $3,471,174. COLUMN B: TOTAL PROCEEDS OF $233,015,994 IS COMPROMISED OF THE ISSUE PRICE IN THE AMOUNT OF $231,838,996 AND INVESTMENT EARNINGS TOTALING $1,176,998. COLUMN C: TOTAL PROCEEDS OF $120,780,965 IS COMPROMISED OF THE ISSUE PRICE IN THE AMOUNT OF $120,736,790 AND INVESTMENT EARNINGS TOTALING $44,175 LINE 7, COLUMNS A-C(3): COLUMN A: COST OF ISSUANCE IN THE AMOUNT OF $848,776 IS COMPRISED OF ISSUANCE COSTS TOTALING $364,667 AND UNDERWRITERS DISCOUNT IN THE AMOUNT OF $484,109. COLUMN B: COST OF ISSUANCE IN THE AMOUNT OF $ 1,035,243 IS COMPRISED OF ISSUANCE COSTS TOTALING $607,924 AND UNDERWIRTERS DISCOUNT IN THE AMOUNT OF $427,319. ACUTAL COSTS DIFFER FROM ESTIMATES USED ON FORM 8038. COLUMN C: COST OF ISSUANCE IN THE AMOUNT OF $734,856 IS COMPRISED OF ISSUANCE COSTS TOTALING $434,529 AND UNDERWRITERS DISCOUNT IN THE AMOUNT OF $300, 327. COLUMN A(2): COST OF ISSUANCE IN THE AMOUNT OF $1,424,497 IS COMPRISED OF ISSUANCE COSTS TOTALING $971,457 AND UNDERWRITERS DISCOUNT IN THE AMOUNT OF $453,040. COLUMN B(2): COST OF ISSUANCE IN THE AMOUNT OF $924,796 IS COMPRISED OF ISSUANCE COSTS TOTALING $459,111, AND UNDERWRITERS DISCOUNT IN THE AMOUNT OF $465,685.
SCHEDULE K, PART III, LINES 4 & 5:	THE UNIVERSITY FINANCES CAPITAL PROJECTS WITH BOTH EQUITY AND DEBT AND MADE A TIMELY ELECTION TO ALLOCATE EQUITY PROCEEDS TO ANY PRIVATE BUSINESS USE FOR THE REFERENCED DEBT ISSUES. IF PRIVATE BUSINESS USE FOR THE REFERENCED DEBT ISSUES DOES NOT EXCEED THE EQUITY ALLOCATION, THE PRIVATE BUSINESS USE IS REPORTED AS 0.00%.
SCHEDULE K, PART IV:	LINE 2B, COLUMN D: THE PROCEEDS OF MDFA SERIES FF AND GG, OF WHICH 100 PERCENT WERE SPENT TO PAY ISSUANCE COSTS AND SWAP TERMINATION PAYMENTS, WITH THE REMAINING DEPOSITED WITH BOND TRUSTEES TO CALL THE BONDS WHEN DUE, WERE SPENT WITHIN SIX MONTHS OF THE BOND ISSUANCE DATE. THEREFORE, THIS BOND ISSUANCE QUALIFIED FOR AN EXCEPTION TO REBATE UNDER INTERNAL REVENUE CODE SECTION 148(F)(4)(C). THE PROCEEDS OF MDFA SERIES 2025A QUALIFIES FOR AN EXCEPTION TO REBATE UNDER INTERNAL REVENUE CODE SECTION 148(F)(4)(C). PROCEEDS ARE PROJECTED TO BE FULLY EXHAUSTED BY AUGUST 2026. THE PROCEEDS OF MDFA SERIES 2025B-1, OF WHICH 100 PERCENT WERE SPENT TO PAY REFUNDINGS, ISSUANCE COSTS AND SWAP TERMINATION PAYMENTS, WERE SPENT WITHIN SIX MONTHS OF THE BOND ISSUANCE DATE. THEREFORE, THIS BOND ISSUANCE QUALIFIED FOR AN EXCEPTION TO REBATE UNDER INTERNAL REVENUE CODE SECTION 148(F)(4)(C). LINE 2C: THE REBATE COMPUTATION FOR THE SERIES U-1, U-2, U-3, U-4, U-5, AND U-6 BONDS WAS PERFORMED IN MAY 2023. THE REBATE CALCULATION FOR THE SERIES X BONDS WAS PERFORMED IN APRIL 2023. THE REBATE CALCULATION FOR THE SERIES BB BONDS WAS PERFORMED IN APRIL 2021. LINES 4A & 4B, COLUMN B: THE HEDGES THAT ARE ALL OR IN PART IDENTIFIED WITH MDFA - SERIES U-1, U-2, U-3, U-4, U-5 AND U-6 BONDS ARE AS FOLLOWS: WELLS FARGO: 30 YEARS, GOLDMAN SACHS: 20-33 YEARS, MERRILL LYNCH: 33-34 YEARS, AND DEUTSCHE BANK: 34 YEARS. LINE 6, COLUMN A-B: UNSPENT PROCEEDS THAT WERE NOT DRAWN FOR CAPITAL EXPENDITURES DURING THE PRESCRIBED AVAILABLE TEMPORARY PERIOD WERE NOT INVESTED ABOVE THE BOND YIELD.

Schedule K (Form 990) (Rev. 1-2025)

Additional Data

Software ID:
Software Version:

- TIN:

Note: To capture the full content of this document, please select landscape mode (11" x 8.5") when printing.

Schedule K
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Information on Tax-Exempt Bonds

OMB No. 1545-0047

Open to Public
Inspection

Name of the organization
TRUSTEES OF BOSTON UNIVERSITY

Employer identification number
04-2103547

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	MASS DEV FIN AGENCY - SERIES U1 U2 U3 U4 U5 U6	04-3431814	57583RWD3	05-15-2008	536,365,000	PARTIAL REF/CAP PROJ/PROP ACQ	X			X		X
B	MASS DEV FIN AGENCY - SER BB-1 BB-2 BB-3 (2016)	04-3431814	57584XWV9	11-08-2016	231,838,996	CAP PROJ/ADV REF 2008 & 2009 BONDS		X		X		X
C	MASS DEV FIN AGENCY - SERIES X (2013)	04-3431814	57583UVL9	04-30-2013	120,736,790	CAPITAL PROJECTS		X		X		X
D	MASS DEV FIN AGENCY - SER FF (2023) AND SER GG (2023)	04-3431814	57584Y5N5	07-12-2023	217,370,795	REFUNDING SERIES DD-1, DD-2, U5A, U5B & PARTIAL X (2019)		X		X		X
	MASS DEV FIN AGENCY - SERIES 2025A SERIES 2025B-2	04-3431814	57585BGP7	03-03-2025	491,249,636	CAP PROJ/PARTIAL TENDER OF SERIES CC (TAXABLE)		X		X		X
	MASS DEV FIN AGENCY - SERIES 2025B-1	04-3431814	57585BGL6	03-03-2025	328,153,172	REFUNDING SERIES AA-1, AA-2, U-2, U-3, & Y		X		X		X

Part Ⅱ

Proceeds

	A		B		C		D
	1 Amount of bonds retired ..................	258,275,000				86,485,000		4,225,000
2 Amount of bonds legally defeased ..............	50,000,000
3 Total proceeds of issue ..................	539,836,174		233,015,994		120,780,965		217,370,795
4 Gross proceeds in reserve funds .............
5 Capitalized interest from proceeds .............	8,265,541		13,678,113
6 Proceeds in refunding escrows ...............
7 Issuance costs from proceeds ...............	848,766		1,035,243		734,856		682,819
8 Credit enhancement from proceeds .............	727,358
9 Working capital expenditures from proceeds .............
10 Capital expenditures from proceeds .............	202,760,050		126,236,514		120,046,109
11 Other spent proceeds .............	335,500,000		105,744,237				216,687,976
12 Other unspent proceeds .............	230,647,094
13 Year of substantial completion .............	2012		2018		2015
	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) (Rev. 1-2025)

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		X		X		X
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government ....	0.420 %		0 %		0 %		0 %
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government .........	0 %		0 %		0 %		0 %
6 Total of lines 4 and 5 .............	0.420 %		0 %		0 %		0 %
7 Does the bond issue meet the private security or payment test? ...		X		X		X		X
8a Has there been a sale or disposition of any of the bond-financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?.............		X		X		X		X
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of. ..
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? .............
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under Regulations sections 1.141-12 and 1.145-2? ........	X		X		X		X

Part Ⅳ

Arbitrage

	A		B		C		D
	Yes	No	Yes	No	Yes	No	Yes	No
1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? ...		X		X		X		X
2 If "No" to line 1, did the following apply? ....
a Rebate not due yet? .......		X		X		X		X
b Exception to rebate? ........		X		X		X	X
c No rebate due? .........	X		X		X			X
If "Yes" to line 2c, provide in Part Ⅵ the date the rebate computation was performed ......
3 Is the bond issue a variable rate issue? .....	X			X		X		X

Schedule K (Form 990) (Rev. 1-2025)

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 ..........	SEE PART VI
c Term of hedge .........
d Was the hedge superintegrated? ......		X
e Was the hedge terminated? ........		X
5a Were gross proceeds invested in a guaranteed investment contract (GIC)?		X		X		X		X
b Name of provider ..........
c Term of GIC .........
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? ........
6 Were any gross proceeds invested beyond an available temporary period?		X		X		X		X
7 Has the organization established written procedures to monitor the requirements of section 148? ...	X		X		X		X

Part Ⅴ

Procedures To Undertake Corrective Action

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

Part Ⅵ

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

Return Reference	Explanation
SCHEDULE K, PART I:	LINE A: MASSACHUSETTS DEVELOPMENT FINANCE AGENCY (MDFA) - SERIES U-1, U-2, U-3, U-4, U-5, AND U-6 BONDS IN THE AMOUNT $536,365,000 WERE ISSUED TO CURRENTLY REFUND MDFA SERIES R AND MASSACHUSETTS HEFA SERIES Q BONDS IN THE AMOUNT OF $336,365,000. THE BALANCE OF SERIES U PROCEEDS IN THE AMOUNT OF $200,000,000 WERE NEW MONEY BONDS. LINE B: MDFA SERIES BB-1, BB-2, AND BB-3 BONDS IN THE AMOUNT OF $231,838,996 WERE ISSUED TO ADVANCE REFUND AND ULTIMATELY LEGALLY DEFEASED MDFA SERIES U-4, ORIGINALLY ISSUED IN 2008, IN THE AMOUNT OF $50,000,000 AND MDFA SERIES V-1, ORIGINALLY ISSUED IN 2009, IN THE AMOUNT OF $44,000,000. PROCEEDS OF MDFA SERIES BB-1 IN THE AMOUNT OF $125,603,699 WERE NEW MONEY BONDS. LINE D: MDFA SERIES FF AND GG BONDS WERE ISSUED TO CURRENTLY REFUND MDFA SERIES DD-1, DD-2, U5A, U5B AND A PORTIONS OF SERIES X BONDS IN THE AMOUNT OF $218,950,000. LINE A(2): MDFA SERIES 2025B-2 WERE ISSUED TO TENDER FOR A PORTION OF MDFA SERIES CC. LINE B(2): MDFA SERIES 2025B-1 WERE ISSUED TO CURRENTLY REFUND MDFA SERIES AA-1, AA-2, U-2, U-3 AND Y BONDS IN THE AMOUNT OF $284,285,000.
SCHEDULE K, PART II:	LINE 3, COLUMNS A-C: COLUMN A: TOTAL PROCEEDS OF $539,836,174 IS COMPROMISED OF THE ISSUE PRICE IN THE AMOUNT OF $536,365,000 AND INVESTMENT EARNINGS TOTALING $3,471,174. COLUMN B: TOTAL PROCEEDS OF $233,015,994 IS COMPROMISED OF THE ISSUE PRICE IN THE AMOUNT OF $231,838,996 AND INVESTMENT EARNINGS TOTALING $1,176,998. COLUMN C: TOTAL PROCEEDS OF $120,780,965 IS COMPROMISED OF THE ISSUE PRICE IN THE AMOUNT OF $120,736,790 AND INVESTMENT EARNINGS TOTALING $44,175 LINE 7, COLUMNS A-C(3): COLUMN A: COST OF ISSUANCE IN THE AMOUNT OF $848,776 IS COMPRISED OF ISSUANCE COSTS TOTALING $364,667 AND UNDERWRITERS DISCOUNT IN THE AMOUNT OF $484,109. COLUMN B: COST OF ISSUANCE IN THE AMOUNT OF $ 1,035,243 IS COMPRISED OF ISSUANCE COSTS TOTALING $607,924 AND UNDERWIRTERS DISCOUNT IN THE AMOUNT OF $427,319. ACUTAL COSTS DIFFER FROM ESTIMATES USED ON FORM 8038. COLUMN C: COST OF ISSUANCE IN THE AMOUNT OF $734,856 IS COMPRISED OF ISSUANCE COSTS TOTALING $434,529 AND UNDERWRITERS DISCOUNT IN THE AMOUNT OF $300, 327. COLUMN A(2): COST OF ISSUANCE IN THE AMOUNT OF $1,424,497 IS COMPRISED OF ISSUANCE COSTS TOTALING $971,457 AND UNDERWRITERS DISCOUNT IN THE AMOUNT OF $453,040. COLUMN B(2): COST OF ISSUANCE IN THE AMOUNT OF $924,796 IS COMPRISED OF ISSUANCE COSTS TOTALING $459,111, AND UNDERWRITERS DISCOUNT IN THE AMOUNT OF $465,685.
SCHEDULE K, PART III, LINES 4 & 5:	THE UNIVERSITY FINANCES CAPITAL PROJECTS WITH BOTH EQUITY AND DEBT AND MADE A TIMELY ELECTION TO ALLOCATE EQUITY PROCEEDS TO ANY PRIVATE BUSINESS USE FOR THE REFERENCED DEBT ISSUES. IF PRIVATE BUSINESS USE FOR THE REFERENCED DEBT ISSUES DOES NOT EXCEED THE EQUITY ALLOCATION, THE PRIVATE BUSINESS USE IS REPORTED AS 0.00%.
SCHEDULE K, PART IV:	LINE 2B, COLUMN D: THE PROCEEDS OF MDFA SERIES FF AND GG, OF WHICH 100 PERCENT WERE SPENT TO PAY ISSUANCE COSTS AND SWAP TERMINATION PAYMENTS, WITH THE REMAINING DEPOSITED WITH BOND TRUSTEES TO CALL THE BONDS WHEN DUE, WERE SPENT WITHIN SIX MONTHS OF THE BOND ISSUANCE DATE. THEREFORE, THIS BOND ISSUANCE QUALIFIED FOR AN EXCEPTION TO REBATE UNDER INTERNAL REVENUE CODE SECTION 148(F)(4)(C). THE PROCEEDS OF MDFA SERIES 2025A QUALIFIES FOR AN EXCEPTION TO REBATE UNDER INTERNAL REVENUE CODE SECTION 148(F)(4)(C). PROCEEDS ARE PROJECTED TO BE FULLY EXHAUSTED BY AUGUST 2026. THE PROCEEDS OF MDFA SERIES 2025B-1, OF WHICH 100 PERCENT WERE SPENT TO PAY REFUNDINGS, ISSUANCE COSTS AND SWAP TERMINATION PAYMENTS, WERE SPENT WITHIN SIX MONTHS OF THE BOND ISSUANCE DATE. THEREFORE, THIS BOND ISSUANCE QUALIFIED FOR AN EXCEPTION TO REBATE UNDER INTERNAL REVENUE CODE SECTION 148(F)(4)(C). LINE 2C: THE REBATE COMPUTATION FOR THE SERIES U-1, U-2, U-3, U-4, U-5, AND U-6 BONDS WAS PERFORMED IN MAY 2023. THE REBATE CALCULATION FOR THE SERIES X BONDS WAS PERFORMED IN APRIL 2023. THE REBATE CALCULATION FOR THE SERIES BB BONDS WAS PERFORMED IN APRIL 2021. LINES 4A & 4B, COLUMN B: THE HEDGES THAT ARE ALL OR IN PART IDENTIFIED WITH MDFA - SERIES U-1, U-2, U-3, U-4, U-5 AND U-6 BONDS ARE AS FOLLOWS: WELLS FARGO: 30 YEARS, GOLDMAN SACHS: 20-33 YEARS, MERRILL LYNCH: 33-34 YEARS, AND DEUTSCHE BANK: 34 YEARS. LINE 6, COLUMN A-B: UNSPENT PROCEEDS THAT WERE NOT DRAWN FOR CAPITAL EXPENDITURES DURING THE PRESCRIBED AVAILABLE TEMPORARY PERIOD WERE NOT INVESTED ABOVE THE BOND YIELD.

Schedule K (Form 990) (Rev. 1-2025)

Additional Data

Software ID:
Software Version:

- TIN:

Schedule L
(Form 990)
(Rev. January 2025)

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

Open to Public Inspection

Name of the organization

TRUSTEES OF BOSTON UNIVERSITY

Employer identification number

04-2103547

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
(1) ROBERT BROWN	PART V	PART V		X	800,000	800,000		No	Yes		Yes
(2) JEAN MORRISON	PART V	PART V		X	500,000	500,000		No	Yes		Yes
(3) KEN LUTCHEN	PART V	PART V		X	400,000	400,000		No	Yes		Yes

Total ............... $						1,700,000

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) (Rev. 1-2025)

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) KEITH BROWN	SEE PART V	232,787	EMPL. COMP		No
(2) J LAWFORD ANDERSON	SEE PART V	209,782	EMPL. COMP		No

Part V

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

Return Reference

Explanation

SCHEDULE L, PART II, COLUMN (B)

(A) NAME OF PERSON: ROBERT BROWN(B) RELATIONSHIP WITH ORGANIZATION: FMR. PRESIDENT (UNTIL 7/31/23)(C) PURPOSE OF LOAN: PURCHASE OF PROPERTY(D) LOAN ISSUANCE: SEPTEMBER 2022(A) NAME OF PERSON: JEAN MORRISON(B) RELATIONSHIP WITH ORGANIZATION: FMR. UNI. PROVOST (UNTIL 6/30/23)(C) PURPOSE OF LOAN: PURCHASE OF PROPERTY(D) LOAN ISSUANCE: JULY 2023(A) NAME OF PERSON: KENNETH R. LUTCHEN(B) RELATIONSHIP WITH ORGANIZATION: INT. UNI. PROVOST (7/1/23-6/30/24)(C) PURPOSE OF LOAN: PURCHASE OF PROPERTY(D) LOAN ISSUANCE: JUNE 2007

SCHEDULE L, PART IV, COLUMN (B)

(1) FAMILY MEMBER OF FORMER PRESIDENT ROBERT BROWN(2) FAMILY MEMBER OF FORMER UNIVERSITY PROVOST JEAN MORRISON

Schedule L (Form 990) (Rev. 1-2025)

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

2024

Open to Public Inspection

Name of the organization

TRUSTEES OF BOSTON UNIVERSITY

Employer identification number

04-2103547

Part I

Types of Property

	(a) Check if applicable	(b) Number of contributions or items contributed	(c) Noncash contribution amounts reported on Form 990, Part VIII, line 1g	(d) Method of determining noncash contribution amounts
1 Art—Works of art ....	X	1	693,550	INDEPENDENT APPRAISAL
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	341	10,515,342	MEAN PRICE ON DATE
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	5	16,707	INDEPENDENT APPRAISAL
20 Drugs and medical supplies .
21 Taxidermy ......
22 Historical artifacts ....
23 Scientific specimens ..
24 Archeological artifacts ...
25 Other ( EQUIPMENT: MEDICAL, RESEARCH, EDUCATIONAL, ETC. )	X	23	619,160	INDEPENDENT APPRAISA
26 Other ( DONATED AUCTION ITEMS )	X	33	51,676	FAIR MARKET VALUE
27 Other ( EVENT SUPPORT )	X	4	16,502	COST
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

Yes

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) (2024)

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 LISTED IN COLUMN (B) OF SCHEDULE M PART I REPRESENT CONTRIBUTION TOTALS, NOT CONTRIBUTOR TOTALS.

SCHEDULE M, PART I, LINE 32B

THE UNIVERSITY USES A TRADING BROKERAGE ACCOUNT AT NORTHERN TRUST TO RECEIVE AND SELL GIFTS OF MARKETABLE SECURITIES. THE BANK CHARGES THE UNIVERSITY A COMMISSION WHEN EACH SECURITY IS SOLD. THE UNIVERSITY THROUGH ITS RADIO STATION WBUR USES CHARITABLE ADULT RIDES & SERVICES, INC. (CARS) AND CAR TALK VEHICLE DONATION PROGAM (CAR TALK) TO ACCEPT AND SELL DONATED VEHICLES ON BEHALF OF WBUR. PROCEEDS ARE SHARED BETWEEN WBUR AND CARS BASED ON AN AGREED UPON AMOUNT PER VEHICLE WHEN IT IS SOLD.

Schedule M (Form 990) (2024)

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE O
(Form 990)
(Rev. January 2025)
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 instructions and the latest information.

OMB No. 1545-0047

Open to Public
Inspection

Name of the organization

TRUSTEES OF BOSTON UNIVERSITY

Employer identification number

04-2103547

Return Reference	Explanation
FORM 990, PART I, LINE 1 & PART III, LINE 1	ORGANIZATION'S MISSION: BOSTON UNIVERSITY IS AN INTERNATIONAL, COMPREHENSIVE, PRIVATE RESEARCH UNIVERSITY, COMMITTED TO EDUCATING STUDENTS TO BE REFLECTIVE, RESOURCEFUL INDIVIDUALS READY TO LIVE, ADAPT, AND LEAD IN AN INTERCONNECTED WORLD. BOSTON UNIVERSITY IS COMMITTED TO GENERATING NEW KNOWLEDGE TO BENEFIT SOCIETY.
FORM 990, PART III, LINE 4A	INSTRUCTION - BOSTON UNIVERSITY TODAY IS ONE OF THE MOST DYNAMIC, FORWARD-LOOKING PRIVATE RESEARCH UNIVERSITIES IN THE WORLD, WITH STUDENTS AND FACULTY WHO ARE IMMERSED IN INNOVATIVE EDUCATIONAL PROGRAMS AT THE FRONTIERS OF SCHOLARSHIP, RESEARCH, AND PUBLIC SERVICE, ALL IN A 21ST-CENTURY ATMOSPHERE OF URBAN AND GLOBAL ENGAGEMENT. WITH 17 SCHOOLS AND COLLEGES AND THE FACULTY OF COMPUTING & DATA SCIENCES AND THREE CAMPUSES BOSTON UNIVERSITY OFFERS ITS STUDENTS MORE THAN 300 PROGRAMS OF STUDY IN THE LIBERAL ARTS, SCIENCE AND ENGINEERING, HEALTH SCIENCE, THE ARTS, AND OTHER PROFESSIONAL DISCIPLINES. STUDENTS COME FROM ALL OVER THE GLOBE AND STUDY AROUND THE WORLD THROUGH MORE THAN 170 STUDY ABROAD PROGRAMS OFFERING OPPORTUNITIES IN MORE THAN 20 COUNTRIES. BOSTON UNIVERSITY FACULTY ARE COMMITTED TO EXCELLENCE IN TEACHING AND IN PATH-BREAKING RESEARCH AND SCHOLARSHIP. THEY ARE EXPANDING THE BOUNDARIES OF KNOWLEDGE ACROSS DISCIPLINES, FROM MOLECULAR MEDICINE, BIOLOGICAL EVOLUTION, AND HIGH-ENERGY PHYSICS TO BUSINESS MANAGEMENT, POETRY, AND THE PERFORMING ARTS. THE UNIVERSITY PLACES A STRONG EMPHASIS ON THE INTERDISCIPLINARY AND COLLABORATIVE EFFORTS OF BOTH FACULTY AND STUDENTS, WITH MAJOR INITIATIVES IN NEUROSCIENCE, SYSTEMS BIOLOGY, PHOTONICS, ENGINEERING BIOLOGY, DATA SCIENCES, URBAN HEALTH, GLOBAL HEALTH AND DEVELOPMENT, AND EMERGING INFECTIOUS DISEASES, ALONG WITH RESEARCH IN COMMUNICATIONS AND THE HUMANITIES.
FORM 990, PART VI, SECTION A, LINE 1A	WITH CERTAIN EXCEPTIONS SPECIFIED IN THE UNIVERSITY'S BY-LAWS OR OTHERWISE REQUIRED BY LAW, THE EXECUTIVE COMMITTEE EXERCISES THE POWERS OF THE BOARD OF TRUSTEES BETWEEN FULL BOARD MEETINGS. THE COMMITTEE HOLDS MEETINGS DURING MOST MONTHS WHEN THE FULL BOARD DOES NOT MEET AND OTHERWISE AS NECESSARY. THE MEMBERSHIP OF THE EXECUTIVE COMMITTEE CONSISTS OF THE OFFICERS OF THE BOARD, THE CHAIRS OF THE OTHER STANDING COMMITTEES OF THE BOARD, THE PRESIDENT, AND UP TO THREE AT-LARGE MEMBERS ELECTED ANNUALLY BY THE BOARD. ALL MEMBERS OF THE EXECUTIVE COMMITTEE ARE MEMBERS OF THE BOARD OF TRUSTEES.
FORM 990, PART VI, SECTION B, LINE 11B	UPON COMPLETION, A DRAFT OF THE FORM 990 IS REVIEWED BY THE VICE PRESIDENT OF FINANCIAL OPERATIONS, BY THE CHIEF FINANCIAL OFFICER (AS WELL AS OTHER FINANCE/ACCOUNTING STAFF), AND BY UNIVERSITY COUNSEL. THE UNIVERSITY'S PUBLIC ACCOUNTING FIRM, KPMG, IS INVOLVED THROUGHOUT THE PREPARATION AND REVIEW OF THE RETURN. THE FORM IS THEN SENT TO THE UNIVERSITY'S AUDIT COMMITTEE TO BE REVIEWED DURING ITS ANNUAL SPRING MEETING. AFTER AUDIT COMMITTEE REVIEW, THE FINAL RETURN IS PROVIDED TO THE BOARD OF TRUSTEES VIA A SECURE SITE BEFORE IT IS FILED WITH THE IRS.
FORM 990, PART VI, SECTION B, LINE 12C	ALL TRUSTEES, OFFICERS, KEY EMPLOYEES, AND OTHER REPRESENTATIVES (INCLUDING VICE PRESIDENTS AND OTHER MANAGERIAL PERSONNEL) ARE REQUIRED TO DISCLOSE ON THE UNIVERSITY'S CONFLICT OF INTEREST DISCLOSURE FORM ANY BUSINESS OR FINANCIAL RELATIONSHIP THEY OR MEMBERS OF THEIR IMMEDIATE FAMILIES HAVE OR PROPOSE TO HAVE WITH THE UNIVERSITY, EITHER DIRECTLY OR THROUGH ANOTHER ENTITY IN WHICH THEY HAVE A SIGNIFICANT INTEREST. THE DISCLOSURE FORM IS REQUIRED TO BE FILED ANNUALLY; AN AMENDED FORM MUST BE FILED PROMPTLY IN THE EVENT OF A MATERIAL CHANGE IN CIRCUMSTANCES. A TRUSTEE OR OFFICER IS REQUIRED TO PROVIDE ADVANCE WRITTEN DISCLOSURE OF ANY PROPOSED BUSINESS OR FINANCIAL RELATIONSHIP COVERED BY THIS POLICY TO THE CHAIRMAN OF THE AUDIT COMMITTEE. AN EMPLOYEE OR OTHER REPRESENTATIVE MUST PROVIDE ADVANCE WRITTEN DISCLOSURE OF ANY SUCH RELATIONSHIP TO THE UNIVERSITY'S COMPLIANCE COMMITTEE. TRUSTEES, OFFICERS, KEY EMPLOYEES, AND OTHER REPRESENTATIVES WHO HAVE DISCLOSED A POTENTIAL CONFLICT OF INTEREST MUST REFRAIN FROM PARTICIPATING IN THE UNIVERSITY'S CONSIDERATION OF ANY PROPOSED BUSINESS OR FINANCIAL RELATIONSHIP IN WHICH THEY ARE INTERESTED, EXCEPT TO RESPOND TO QUESTIONS OR TO PROVIDE FURTHER INFORMATION. IF A TRANSACTION OR RELATIONSHIP REQUIRES A VOTE, THE INTERESTED PARTY SHOULD NOT BE PRESENT AT THE TIME OF THE VOTE. THE AUDIT COMMITTEE DETERMINES WHETHER A BUSINESS OR FINANCIAL RELATIONSHIP INVOLVING A TRUSTEE OR OFFICER SHOULD BE ENTERED INTO OR CONTINUED. IN THE CASE OF ANY SUCH RELATIONSHIP INVOLVING A TRUSTEE, SUCH A DETERMINATION IS TO BE SET FORTH IN A WRITTEN REPORT OF THE AUDIT COMMITTEE SIGNED BY THE CHAIRMAN AND A MAJORITY OF THE COMMITTEE. THE COMPLIANCE COMMITTEE DETERMINES WHETHER A BUSINESS OR FINANCIAL RELATIONSHIP INVOLVING AN EMPLOYEE OR OTHER REPRESENTATIVE SHOULD BE ENTERED INTO OR CONTINUED. THE COMPLIANCE COMMITTEE PROVIDES SUCH REPORTS AS MAY BE REQUESTED BY THE AUDIT COMMITTEE AND MAY REQUEST ADVICE OR DIRECTION FROM THE AUDIT COMMITTEE.
FORM 990, PART VI, SECTION B, LINE 15	EACH YEAR, INCLUDING THE YEAR COVERED BY THIS RETURN, THE FOLLOWING PROCESS IS USED TO ESTABLISH THE COMPENSATION FOR THE FOLLOWING INDIVIDUALS: THE PRESIDENT; UNIVERSITY PROVOST; MEDICAL CAMPUS PROVOST; CHIEF INVESTMENT OFFICER; SENIOR VICE PRESIDENT FOR OPERATIONS; SENIOR VICE PRESIDENT, CHIEF FINANCIAL OFFICER, AND TREASURER; AND SENIOR VICE PRESIDENT, GENERAL COUNSEL, AND SECRETARY OF THE BOARD OF TRUSTEES. THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES (WHICH CONSISTS ENTIRELY OF INDEPENDENT PERSONS HAVING NO CONFLICTS OF INTEREST AS DEFINED IN THE APPLICABLE REGULATIONS) ENGAGES THE SERVICES OF AN INDEPENDENT CONSULTING FIRM TO OBTAIN COMPARABLE COMPENSATION DATA FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. THE COMMITTEE REVIEWS THIS DATA AND THE PERFORMANCE OF THE INDIVIDUALS HOLDING THE POSITIONS IN QUESTION, AND IT DEVELOPS A RECOMMENDATION REGARDING THE PRESIDENT'S COMPENSATION AND CONSIDERS THE PRESIDENT'S COMPENSATION RECOMMENDATIONS FOR EACH OF THE OTHER COVERED PERSONS. THE COMPENSATION COMMITTEE THEN PRESENTS THE DATA AND ITS COMPENSATION RECOMMENDATIONS TO THE FULL BOARD OF TRUSTEES FOR REVIEW AND APPROVAL. THE DELIBERATIONS AND ACTIONS OF BOTH THE COMPENSATION COMMITTEE AND THE BOARD OF TRUSTEES ARE DOCUMENTED CONTEMPORANEOUSLY.
FORM 990, PART VI, SECTION C, LINE 19	THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC VIA ITS OWN WEBSITE.
FORM 990, PART VII, SECTION A	MELISSA L. GILLIAM, THE PRESIDENT OF BOSTON UNIVERSITY, DEVOTES ONE HOUR OR LESS PER WEEK TO THE MASSACHUSETTS GREEN HIGH PERFORMANCE COMPUTING CENTER, A RELATED ORGANIZATION. NICOLE K. TIRELLA, AN OFFICER OF BOSTON UNIVERSITY, DEVOTES ONE HOUR OR LESS PER MONTH TO EACH OF 660 CORPORATION, AKEAH INC., AND BOSTON UNIVERSITY FOUNDATION - INDIA, ALL RELATED ORGANIZATIONS. DEREK HOWE, A KEY EMPLOYEE OF BOSTON UNIVERSITY, DEVOTES TWO HOURS OR LESS PER MONTH TO PLEASANT VENTURES REALTY TRUST, A RELATED ORGANIZATION. KAREN H. ANTMAN, MD, A KEY EMPLOYEE OF BOSTON UNIVERSITY, DEVOTES FOUR HOURS OR LESS PER WEEK TO FACULTY PRACTICE FOUNDATION, INC., A RELATED ORGANIZATION. XINNING LI, CHADI TANNOURY, AND WILLIAM CREEVY ARE ON THE LIST OF FIVE HIGHEST COMPENSATED EMPLOYEES OF BOSTON UNIVERSITY, EACH DEVOTING 55 HOURS OR LESS PER WEEK TO FACULTY PRACTICE PLANS. KEVIN SMITH WAS COMPENSATED AS A FACULTY MEMBER, NOT AS A TRUSTEE.
FORM 990, PART XI, LINE 9:	GAIN ON INTEREST RATE EXCHANGE AGREEMENTS 6,456,985. UNREALIZED LOSS ON NON-INVESTMENT ASSETS -898,204. NET ACTUARIAL LOSS -433,681. OTHER ADJUSTMENTS -6,648,005.

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

Cat. No. 51056K

Schedule O (Form 990) (Rev. 1-2025)

Additional Data

Software ID:
Software Version:

- TIN:

SCHEDULE R
(Form 990)
(Rev. January 2025)

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

Open to Public Inspection

Name of the organization

TRUSTEES OF BOSTON UNIVERSITY

Employer identification number

04-2103547

Part I

Identification of Disregarded Entities. Complete if the organization answered "Yes" on Form 990, Part IV, line 33.

(a) Name, address, and EIN (if applicable) of disregarded entity	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Total income	(e) End-of-year assets	(f) Direct controlling entity
(1) BU (GT) FUNDING LLC 108 BAY STATE ROAD BOSTON,MA02215 87-0773653	INVESTMENTS	DE	40,306	0	BU TRUSTEES
(2) PLEASANT VENTURES REALTY TRUST 125 BAY STATE ROAD BOSTON,MA02215 04-3006700	REAL ESTATE	MA	1,953,351	7,445,261	BU TRUSTEES
(3) SCARLET CASTLE BRR-I LLC ONE SILBER WAY BOSTON,MA02215 82-1985611	INVESTMENTS	MA	378,826	651,323	BU TRUSTEES

Part II

Identification of Related Tax-Exempt Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year.

(a) Name, address, and EIN of related organization	(b) Primary activity	(c) Legal domicile (state or foreign country)	(d) Exempt Code section	(e) Public charity status (if section 501(c)(3))	(f) Direct controlling entity	(g) Section 512(b)(13) controlled entity?
(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)BOSTON EMERGENCY PHYSICIAN FOUNDATION 860 HARRISON AVENUE BOSTON,MA02118 04-3286156	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(2)BOSTON REHABILITATION MED ASSOC INC 732 HARRISON AVENUE SUITE 511 BOSTON,MA02118 04-3286641	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(3)BOSTON UNIVERSITY EYE ASSOCIATES INC 2005 BAY STREET SUITE 201 TAUNTON,MA02780 04-3137333	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(4)BOSTON UNIVERSITY FAMILY MEDICINE INC 1 BOSTON MEDICAL CENTER DOWLING 5 BOSTON,MA02118 04-3354353	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(5)BOSTON UNIVERSITY DERMATOLOGY INC 609 ALBANY STREET BOSTON,MA02118 04-3335166	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(6)BU DERMATOLOGY SUPPORT SERVICES I INC 609 ALBANY STREET BOSTON,MA02118 04-3452877	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(7)BU DERMATOLOGY SUPPORT SERVICES II INC 609 ALBANY STREET BOSTON,MA02118 04-3452874	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(8)BU CARDIAC & THORACIC SURGICAL FDN INC 88 EAST NEWTON STREET BOSTON,MA02118 04-2966416	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(9)BU GENERAL SURGICAL ASSOCIATES INC 88 EAST NEWTON STREET SUITE C500 BOSTON,MA02118 04-3265008	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(10)BU MALLORY PATHOLOGY ASSOCIATES INC 670 ALBANY STREET 3RD FLOOR BOSTON,MA02118 04-2794543	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(11)BU MEDICAL CENTER ANESTHESIOLOGISTS INC 88 EAST NEWTON STREET BOSTON,MA02118 04-3276227	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(12)BU MEDICAL CENTER RADIOLOGISTS INC 820 HARRISON AVENUE FGH BLDG BOSTON,MA02118 04-3283573	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(13)BU MEDICAL CENTER UROLOGISTS INC 725 ALBANY STREET SHAPIRO 3B BOSTON,MA02118 04-3286643	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(14)BU NEUROLOGY ASSOCIATES INC 72 EAST CONCORD STREET C3 BOSTON,MA02118 04-3428462	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(15)BU NEUROSURGICAL ASSOCIATES INC 72 EAST CONCORD STREET C3 BOSTON,MA02118 04-3296068	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(16)BU OBSTETRICS & GYNECOLOGY FDN INC 85 EAST CONCORD STREET 6TH FLOOR BOSTON,MA02118 04-3067465	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(17)BU ORTHOPAEDIC SURGICAL ASSOCIATES INC 720 HARRISON AVENUE SUITE 808 BOSTON,MA02118 04-3354360	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(18)BU PLASTIC SURGERY ASSOCIATES INC 720 HARRISON AVENUE DOB 9TH FLOOR BOSTON,MA02118 04-3555478	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(19)BU PSYCHIATRY ASSOCIATES INC 85 EAST NEWTON STREET SUITE 802 BOSTON,MA02118 04-3355267	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(20)BU RADIATION ONCOLOGY INC 1 BOSTON MEDICAL CENTER PLACE BOSTON,MA02118 81-0716773	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(21)BU SURGICAL ASSOCIATES INC 88 EAST NEWTON STREET BOSTON,MA02118 04-3291148	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(22)CHILD HEALTH FOUNDATION OF BOSTON INC 771 ALBANY STREET DOWLING 3 SOUTH BOSTON,MA02118 04-2472758	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(23)EVANS MEDICAL FOUNDATION INC 88 EAST NEWTON STREET BOSTON,MA02118 51-0172171	MEDICINE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(24)FACULTY PRACTICE FOUNDATION INC 660 HARRISON AVENUE 3RD FLOOR BOSTON,MA02118 04-3289381	MEDICINE	MA	501(C)(3)	LINE 12B, II	N/A		No
(25)BU MEDICAL CENTER OTOLARYNGOLOGIC FDN 820 HARRISON AVENUE BOSTON,MA02118 04-3156471	HEALTHCARE	MA	501(C)(3)	LINE 12C, III-FI	N/A		No
(26)MERCOND INC 881 COMMONWEALTH AVENUE BOSTON,MA02215 04-3099628	HOLDING COMPANY	MA	501(C)(2)		BU TRUSTEES	Yes
(27)THE MASS GREEN HIGH PERF COMPUTING CTR 77 MASSACHUSETTS AVENUE CAMBRIDGE,MA02139 27-3014805	RESEARCH CENTER	MA	501(C)(3)	LINE 12A, I	N/A		No
(28)MGHPCC HOLYOKE INC 77 MASSACHUSETTS AVENUE CAMBRIDGE,MA02139 45-2257442	RESEARCH CENTER	MA	501(C)(3)	LINE 12A, I	N/A		No
(29)BOSTON UNIVERSITY (USA) LONDON CHARITY 5-10 ST PAULS CHURCHYARD LONDON EC4M 8AL UK	EDUCATIONAL SUPPORT	UK			BU TRUSTEES	Yes
(30)BOSTON UNIVERSITY FOUNDATION - INDIA S-505 LGF GREATER KAILASH-11 NEW DELHI 110048 IN	EDUCATIONAL SUPPORT	IN			BU TRUSTEES	Yes

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

Cat. No. 50135Y

Schedule R (Form 990) (Rev. 1-2025)

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) EUSA LLP 1A QUEENSBERRY PLACE LONDON UK	EDUCATION	NR	BU EUREUSA UK	RELATED	305,674	1,314,094		No			No	100.000 %
(2) BRIGHTSTAR CAPITAL PARTNERS INFRASERV LP 9859 BIG BEND BLVD SUITE 202 ST LOUIS,MO63122 84-2093170	INVESTMENTS	MO	BU	UNRELATED	487,182	26,561		No	142,810		No	62.270 %

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) 520 COMMONWEALTH AVENUE REAL ESTATE CORP 881 COMMONWEALTH AVENUE BOSTON,MA02215 04-2272027	HOLDING COMPANY	MA	BU TRUSTEES	C		44,205	100.000 %	Yes
(2) 660 CORPORATION 881 COMMONWEALTH AVENUE BOSTON,MA02215 04-2787737	CONVENIENCE STORE	MA	520 CORP	C	3,682,577	6,109,942	100.000 %	Yes
(3) AKEAH INC 881 COMMONWEALTH AVENUE BOSTON,MA02215 04-3003380	EDUCATIONAL SUPPORT	MA	520 CORP	C	394,181	430,628	100.000 %	Yes
(4) BOSTON UNIVERSITY (USA) EUROPE LIMITED 43 HARRINGTON GARDENS LONDON SW7 4JU UK	EDUCATIONAL SUPPORT	UK	BU (USA) LONDON	C		2,258,527	100.000 %	Yes
(5) CHARITABLE REMAINDER TRUSTS (12)	SUPPORT	MA	BU TRUSTEES	T					No
(6) EUSA (UK) LIMITED 43 HARRINGTON GARDENS LONDON SW7 4JU UK	EDUCATIONAL SUPPORT	UK	BU (USA) LONDON	C		429	100.000 %	Yes
(7) SCARLET CASTLE TIR-I LLC 881 COMMONWEALTH AVENUE BOSTON,MA02215 84-3380977	INVESTMENT	MA	TBU	C	-8,177	89,012	100.000 %	Yes

Schedule R (Form 990) (Rev. 1-2025)

Page 3

Part V

Transactions With Related Organizations. Complete if the organization answered "Yes" on Form 990, Part IV, line 34, 35b, or 36.

Note. Complete line 1 if any entity is listed in Parts II, III, or IV of this schedule.

Yes

1 During the tax year, did the orgranization engage in any of the following transactions with one or more related organizations listed in Parts II-IV?

a Receipt of (i) interest, (ii) annuities, (iii) royalties, or (iv) rent from a controlled entity .....................

Yes

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

Yes

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

Yes

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

Yes

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

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

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

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

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

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

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

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

Yes

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

Yes

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

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

Yes

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

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

Yes

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

Yes

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

Yes

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

(a) Name of related organization	(b) Transaction type (a-s)	(c) Amount involved	(d) Method of determining amount involved
(1) 660 CORPORATION	A	414,006	ACTUAL PAYMENT
(2) 660 CORPORATION	L	100,000	ACTUAL PAYMENT
(3) 660 CORPORATION	Q	31,888	ACTUAL PAYMENT
(4) AKEAH INC	R	400,000	ACTUAL PAYMENT
(5) BOSTON UNIVERSITY USA (EUROPE) LIMITED	A	709,056	ACTUAL PAYMENT
(6) BRIGHTSTAR CAPITAL PARTNERS INFRASERV LP	B	43,112	ACTUAL PAYMENT
(7) EUSA LLP	A	169,232	ACTUAL PAYMENT
(8) EUSA LLP	D	300,050	ACTUAL PAYMENT
(9) EUSA LLP	M	1,023,964	ACTUAL PAYMENT
(10) EUSA LLP	O	196,024	ACTUAL PAYMENT
(11) SCARLET CASTLE TIR-I LLC	R	21,400	ACTUAL PAYMENT
(12) CHARITABLE REMAINDER TRUST	S	102,136	ACTUAL PAYMENT

Schedule R (Form 990) (Rev. 1-2025)

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) (Rev. 1-2025)

Page 5

Part VII

Supplemental Information

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

Return Reference	Explanation

Schedule R (Form 990) (Rev. 1-2025)

Additional Data

Software ID:
Software Version:

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	34
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	32
5	Total number of individuals employed in calendar year 2024 (Part V, line 2a) ......	5	29,156
6	Total number of volunteers (estimate if necessary) .............	6	204
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	36,347,685
b	Net unrelated business taxable income from Form 990-T, Part I, line 11 .........	7b	63,810

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	709,188,163	783,991,107
9	Program service revenue (Part VIII, line 2g) .........	2,399,893,218	2,489,134,642
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	117,067,805	198,978,438
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	31,414,164	41,726,166
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	3,257,563,350	3,513,830,353
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	858,377,304	938,613,847
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)	1,525,335,232	1,627,719,708
16a	Professional fundraising fees (Part IX, column (A), line 11e) .....	528,998	495,480
b	Total fundraising expenses (Part IX, column (D), line 25) 43,068,745
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	811,718,277	852,210,053
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	3,195,959,811	3,419,039,088
19	Revenue less expenses. Subtract line 18 from line 12.......	61,603,539	94,791,265
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	8,486,418,500	9,263,866,015
21	Total liabilities (Part X, line 26).............	2,530,552,719	2,912,386,744
22	Net assets or fund balances. Subtract line 21 from line 20.....	5,955,865,781	6,351,479,271

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ 2,032,098,482 including grants of $ 785,453,162 ) (Revenue $ 2,075,071,922 )
	SEE SCHEDULE O

4b	(Code: ) (Expenses $ 455,046,330 including grants of $ 153,160,685 ) (Revenue $ 21,307,556 )
	RESEARCH - WHAT SETS BOSTON UNIVERSITY APART AS A RESEARCH UNIVERSITY IS THE BREADTH AND DEPTH OF ITS RESEARCH AND THE UNIQUELY ENTREPRENEURIAL SPIRIT OF ITS FACULTY. RESEARCHERS AT BU ARE NOT AFRAID TO CROSS DISCIPLINARY BOUNDARIES, AS CAN BE SEEN BY STRATEGIC EFFORTS TO SUPPORT INTERDISCIPLINARY RESEARCH AND EDUCATION IN NEUROSCIENCE, RELIGION AND WORLD AFFAIRS, INTEGRATIVE BIOLOGY, CLEAN ENERGY, SUSTAINABILITY AND THE ENVIRONMENT, HEALTH CARE DELIVERY, AND GLOBAL HEALTH, TO NAME A FEW. IN EACH CASE, THE EMPHASIS IS NOT ON INTERDISCIPLINARITY FOR ITS OWN SAKE, BUT ON USING A MULTIFACETED APPROACH TO SOLVE THE IMPORTANT AND COMPLEX PROBLEMS FACING SOCIETY TODAY.

4c	(Code: ) (Expenses $ 393,000,184 including grants of $ ) (Revenue $ 392,755,164 )
	AUXILIARIES - AUXILIARY ENTERPRISES SUPPORT THE MISSION OF BOSTON UNIVERSITY BY PROVIDING ESSENTIAL SERVICES TO THE CAMPUS COMMUNITY. THEY ARE ENTERPRISES IN THAT THEY ARE GENERALLY SELF-SUPPORTING ACTIVITIES, RECOVERING THEIR COSTS THROUGH THE FEES OR PRICES THEY CHARGE FOR THEIR GOODS AND SERVICES. AT BOSTON UNIVERSITY, AUXILIARY ENTERPRISES ARE DESIGNED TO DELIVER SUPERIOR QUALITY SERVICES THAT ARE EXPECTED BY THE STUDENTS, FACULTY, STAFF AND ALUMNI.

	(Code: ) (Expenses $ 228,242,031 including grants of $ ) (Revenue $ )
	OTHER PROGRAM SERVICES CONSIST OF LIBRARIES, ACADEMIC SERVICES, STUDENT SERVICES, EXTERNAL PROGRAMS, AND OTHER DEDUCTIONS.

4d	Other program services (Describe in Schedule O.)
	(Expenses $ 228,242,031 including grants of $ ) (Revenue $ )
4e	Total program service expenses3,108,387,027

1b	Sub-Total..............
c	Total from continuation sheets to Part VII, Section A..
d	Total (add lines 1b and 1c).........	12,854,885	3,933,624	1,370,532

1a	Federated campaigns..		1a
b	Membership dues..		1b
c	Fundraising events..		1c	1,600,894
d	Related organizations		1d
e	Government grants (contributions)		1e	510,560,836

f	All other contributions, gifts, grants, and similar amounts not included above		1f	271,829,377

g	Noncash contributions included in lines 1a - 1f:$		1g	11,912,937

h Total. Add lines 1a-1f.......		783,991,107

		Business Code
2a	TUITION AND FEES	900099	2,075,071,922	2,075,071,922
b	AUX SALES & SERVICES	900099	392,755,164	392,755,164
c	NON-GOVERNMENT GRANTS	900099	21,307,556	21,307,556
d
e
f	All other program service revenue.
g	Total. Add lines 2a–2f .....		2,489,134,642

3 Investment income (including dividends, interest, and othersimilar amounts) ......			76,477,097		2,256,229	74,220,868
4 Income from investment of tax-exempt bond proceeds
5 Royalties...........			6,719,668			6,719,668
			(i) Real	(ii) Personal
6a	Gross rents	6a	16,392,736
b	Less: rental expenses	6b	12,228,555
c	Rental income or (loss)	6c	4,164,181
d	Net rental income or (loss).......			4,164,181			4,164,181
			(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory	7a	2,336,720,490
b	Less: cost or other basis and sales expenses	7b	2,214,219,149
c	Gain or (loss)	7c	122,501,341
d	Net gain or (loss).........			122,501,341		3,654,195	118,847,146
8a	Gross income from fundraising events (not including $ 1,600,894of contributions reported on line 1c). See Part IV, line 18 ....
			8a	3,068,161
b	Less: direct expenses ...		8b	2,663,105
c	Net income or (loss) from fundraising events..			405,056			405,056
9a	Gross income from gaming activities. See Part IV, line 19 ...
			9a
b	Less: direct expenses ...		9b
c	Net income or (loss) from gaming activities..
10a	Gross sales of inventory, less returns and allowances ..
			10a
b	Less: cost of goods sold ..		10b
c	Net income or (loss) from sales of inventory..

Business Code
11a	REAL ESTATE AND RENTAL		532000	21,531,353		21,531,353
b	OTHER SERVICES		812900	4,006,954		4,006,954
c	ARTS, ENTERTAINMENT, A		713990	1,718,087		1,718,087
d	All other revenue ....			3,180,867		3,180,867
e	Total. Add lines 11a–11d ......			30,437,261
12	Total revenue. See instructions.....			3,513,830,353	2,489,134,642	36,347,685	204,356,919

1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....	109,873,767	109,873,767
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ...........	760,668,086	760,668,086
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............	68,071,994	68,071,994
4	Benefits paid to or for members .......
5	Compensation of current officers, directors, trustees, and key employees ...........	9,769,309	8,707,736	596,267	465,306
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........	442,569	442,569
7	Other salaries and wages........	1,228,581,264	1,088,656,759	114,871,784	25,052,721
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	105,442,421	93,433,465	9,858,818	2,150,138
9	Other employee benefits .......	182,495,910	161,711,245	17,063,284	3,721,381
10	Payroll taxes ...........	100,988,235	89,486,571	9,442,354	2,059,310
11	Fees for services (non-employees):
a	Management ......
b	Legal .........	4,145,368		4,145,368
c	Accounting ...........	1,064,195		1,064,195
d	Lobbying ...........	200,224	200,224
e	Professional fundraising services. See Part IV, line 17	495,480			495,480
f	Investment management fees ......	2,406,986		2,406,986
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)	183,534,521	138,492,794	41,425,915	3,615,812
12	Advertising and promotion ....	16,300,159	14,480,441	1,679,598	140,120
13	Office expenses .......	49,105,662	36,838,556	10,451,015	1,816,091
14	Information technology ......	58,997,496	53,280,866	5,465,825	250,805
15	Royalties ..	1,676,782	1,676,782
16	Occupancy ...........	246,590,037	214,770,113	31,807,769	12,155
17	Travel ............	38,456,340	34,384,895	1,335,126	2,736,319
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .
19	Conferences, conventions, and meetings ....	13,884,862	12,608,092	784,372	492,398
20	Interest ...........
21	Payments to affiliates .......
22	Depreciation, depletion, and amortization ..	161,824,458	153,250,652	8,568,637	5,169
23	Insurance ...	10,152,259	4,853,551	5,298,708
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	RESEARCH & LAB SUPPLIES	39,157,829	39,157,829	0	0
b	BOOKS & PERIODICALS	15,353,394	15,353,394	0
c	DUES & MEMBERSHIPS	7,159,626	5,841,439	1,280,915	37,272
d
e	All other expenses	2,199,855	2,145,207	36,380	18,268
25	Total functional expenses. Add lines 1 through 24e	3,419,039,088	3,108,387,027	267,583,316	43,068,745
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).

1	Cash–non-interest-bearing ........			0	1	0
2	Savings and temporary cash investments .........			219,732,441	2	608,023,456
3	Pledges and grants receivable, net ......			154,330,448	3	108,772,067
4	Accounts receivable, net .............			240,385,921	4	371,821,017
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 .......
				1,700,000	5	1,700,000
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), and persons described in section 4958(c)(3)(B) ...
					6
7	Notes and loans receivable, net ...........			10,090,165	7	10,086,695
8	Inventories for sale or use ............				8
9	Prepaid expenses and deferred charges ......			49,816,480	9	48,625,386
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	5,708,045,408
b	Less: accumulated depreciation	10b	2,591,873,164	3,051,788,890	10c	3,116,172,244
11	Investments—publicly traded securities .			1,891,701,000	11	1,874,054,322
12	Investments—other securities. See Part IV, line 11 .....			2,773,223,578	12	3,044,028,333
13	Investments—program-related. See Part IV, line 11 ..				13
14	Intangible assets ...............				14
15	Other assets. See Part IV, line 11 ...........			93,649,577	15	80,582,495
16	Total assets. Add lines 1 through 15 (must equal line 33)...			8,486,418,500	16	9,263,866,015

17	Accounts payable and accrued expenses .....	224,872,178	17	338,410,643
18	Grants payable ...		18
19	Deferred revenue .........	274,394,052	19	299,888,887
20	Tax-exempt bond liabilities .........	1,052,380,000	20	1,518,824,700
21	Escrow or custodial account liability. Complete Part IV of Schedule D		21
22	Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
			22
23	Secured mortgages and notes payable to unrelated third parties ..	668,146,247	23	514,072,607
24	Unsecured notes and loans payable to unrelated third parties ..		24
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D	310,760,242	25	241,189,907
26	Total liabilities. Add lines 17 through 25..	2,530,552,719	26	2,912,386,744

	Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27	Net assets without donor restrictions ..........	3,651,384,781	27	3,864,830,271
28	Net assets with donor restrictions ...........	2,304,481,000	28	2,486,649,000
	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 ...........	5,955,865,781	32	6,351,479,271
33	Total liabilities and net assets/fund balances ........	8,486,418,500	33	9,263,866,015

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