Form990


Department of the TreasuryInternal Revenue Service
Return of Organization Exempt From Income Tax
Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private foundations)
Do not enter social security numbers on this form as it may be made public.
Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public Inspection
A For the 2024 calendar year, or tax year beginning 08-01-2024 , and ending 07-31-2025
BCheck if applicable:
CName of organization
PEPPERDINE UNIVERSITY
 
 
Doing business as
 
 
Number and street (or P.O. box if mail is not delivered to street address)
24255 PACIFIC COAST HWY
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
MALIBU, CA902634497
D Employer identification number

95-1644037
E Telephone number

G Gross receipts $ 1,224,947,415
F Name and address of principal officer:
JAMES A GASH
24255 PACIFIC COAST HWY
MALIBU,CA902634497
I
Tax-exempt status: (   ) (insert no.) or
J
Website:
WWW.PEPPERDINE.EDU
H(a)
Is this a group return for
subordinates?
H(b)
Are all subordinates
included?
If "No," attach a list. See instructions.
H(c)
Group exemption number  
K Form of organization:  
L Year of formation: 1937
M State of legal domicile: CA
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: PEPPERDINE UNIVERSITY IS A CHRISTIAN UNIVERSITY (CONTINUED SCHEDULE O).
2 Check this box
3 Number of voting members of the governing body (Part VI, line 1a) ........ 3 21
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 20
5 Total number of individuals employed in calendar year 2024 (Part V, line 2a) ...... 5 5,155
6 Total number of volunteers (estimate if necessary) ............. 6 20
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a 23,234,091
b Net unrelated business taxable income from Form 990-T, Part I, line 11 ......... 7b 1,482,922
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 31,484,848 56,339,649
9 Program service revenue (Part VIII, line 2g) ......... 563,918,646 553,972,247
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 92,081,374 121,647,437
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) 17,999,788 23,157,358
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12) 705,484,656 755,116,691
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 151,139,601 150,373,104
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) 249,636,516 260,303,276
16a Professional fundraising fees (Part IX, column (A), line 11e) ..... 459,563 476,686
b Total fundraising expenses (Part IX, column (D), line 25) 9,354,583    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 263,499,285 255,299,506
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 664,734,965 666,452,572
19 Revenue less expenses. Subtract line 18 from line 12....... 40,749,691 88,664,119
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 2,610,614,882 2,732,551,710
21 Total liabilities (Part X, line 26)............. 756,550,821 758,728,770
22 Net assets or fund balances. Subtract line 21 from line 20..... 1,854,064,061 1,973,822,940
Part II
Signature Block
Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best of my knowledge and belief, it is true, correct, and complete. Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge.
Sign Here
Signature of officer Date
Type or print name and title
Paid Preparer Use Only
Print/Type preparer's name
Preparer's signature
Date
PTIN
Firm's name

Firm's EIN
Firm's address



Phone no.
May the IRS discuss this return with the preparer shown above? See Instructions. ..........
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y Form 990 (2024)
Form 990 (2024)
Page 2
Part III
Statement of Program Service Accomplishments
Check if Schedule O contains a response or note to any line in this Part III..............
1
Briefly describe the organization’s mission: PEPPERDINE UNIVERSITY IS A CHRISTIAN UNIVERSITY COMMITTED TO THE HIGHEST STANDARDS OF ACADEMIC EXCELLENCE AND CHRISTIAN VALUES, WHERE STUDENTS ARE STRENGTHENED FOR LIVES OF PURPOSE, SERVICE, AND LEADERSHIP. SEE SCHEDULE O FOR MORE INFORMATION.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? .....................
If "Yes," describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program
services? ...........................
If "Yes," describe these changes on Schedule O.
4
Describe the organization’s program service accomplishments for each of its three largest program services, as measured by expenses. Section 501(c)(3) and 501(c)(4) organizations are required to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program service reported.
4a (Code:   ) (Expenses $ 233,812,960 including grants of $ 150,066,268 ) (Revenue $ 61,734,780 )
STUDENT SERVICES, INCLUDING SCHOLARSHIPS TO ENROLLED STUDENTS - THERE ARE MANY AUXILIARY SERVICES OFFERED TO THE STUDENTS TO PROMOTE THEIR INTELLECTUAL, EMOTIONAL, AND SPIRITUAL DEVELOPMENT. PEPPERDINE UNIVERSITY MAINTAINS MULTIPLE DINING AND HOUSING FACILITIES, A BOOKSTORE, BANKING SERVICES, PARKING FACILITIES LOCATED ALL OVER CAMPUS, TRANSPORTATION SERVICES, RECREATIONAL FIELDS, AND MAIL SERVICES. IN ADDITION TO THESE FACILITIES AND SERVICES, PEPPERDINE UNIVERSITY OFFERS APPROXIMATELY 83% OF ITS TOTAL STUDENT BODY FINANCIAL AID IN THE FORM OF VARIOUS SCHOLARSHIPS, GRANTS, AND LOANS.
4b (Code:   ) (Expenses $ 126,751,443 including grants of $ 53,922 ) (Revenue $ 474,779 )
ACADEMIC SUPPORT - PEPPERDINE UNIVERSITY EQUIPS STUDENTS WITH ACADEMIC SUPPORT TO ENSURE STUDENTS REACH THEIR EDUCATIONAL GOALS. UNIVERSITY SERVICES SUCH AS THE LIBRARY, TECH CENTRAL, PEPPERDINE COUNSELING CENTER, THE HEALTH CENTER, AND ONE STOP, THE PRIMARY ACADEMIC ADVISING CENTER, ASSIST IN THE WELL-BEING AND ACADEMIC PROGRESS OF THE UNIVERSITY'S STUDENTS.
4c (Code:   ) (Expenses $ 118,896,962 including grants of $ 238,889 ) (Revenue $ 491,569,432 )
INSTRUCTION AND RESEARCH - PEPPERDINE UNIVERSITY IS A TOP CHRISTIAN INSTITUTION FOR HIGHER EDUCATION, AND SERVES APPROXIMATELY 3,600 UNDERGRADUATE STUDENTS AND 5,400 GRADUATE STUDENTS. IN ADDITION TO THE UNIVERSITY'S CAMPUSES IN CALIFORNIA, PEPPERDINE UNIVERSITY MAINTAINS SEVERAL STUDENT LEARNING PROGRAMS IN LOCATIONS SUCH AS EUROPE, SOUTH AMERICA, AND WASHINGTON D.C. PEPPERDINE UNIVERSITY BELIEVES IN A LOW STUDENT-FACULTY RATIO (13:1) AND HAS AN AVERAGE CLASS SIZE OF 18. THE UNIVERSITY OFFERS 43 MAJORS THAT UNDERGRADUATES CAN PURSUE, AS WELL AS 38 GRADUATE DEGREES, INCLUDING SEVEN DOCTORAL DEGREES.
(Code:   ) (Expenses $ 27,982,802 including grants of $ 14,025 ) (Revenue $ 291,396 )
PUBLIC SERVICE - THE UNIVERSITY OFFERS NUMEROUS SERVICES TO THE GENERAL PUBLIC, INCLUDING ART EXHIBITS, CONCERTS, PRODUCTIONS, AND OTHER PUBLIC BENEFIT ACTIVITIES.
4d Other program services (Describe in Schedule O.)
(Expenses $ 27,982,802 including grants of $ 14,025 ) (Revenue $ 291,396 )
4e Total program service expenses507,444,167
Form 990 (2024)
Form 990 (2024)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule AClick to see attachment
List of Attached Documents:
// Content
.....................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors? See instructions. Click to see attachment
List of Attached Documents:
// Content
...
2
Yes
 
3
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office? If "Yes," complete Schedule C, Part IClick to see attachment
List of Attached Documents:
// Content
.............
3
 
No
4
Section 501(c)(3) organizations. Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year? If "Yes," complete Schedule C, Part IIClick to see attachment
List of Attached Documents:
// Content
.........
4
Yes
 
5
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Rev. Proc. 98-19? If "Yes," complete Schedule C, Part IIIClick to see attachment
List of Attached Documents:
// Content
..
5
 
No
6
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts? If "Yes," complete Schedule D, Part IClick to see attachment
List of Attached Documents:
// Content
.........................
6
Yes
 
7
Did the organization receive or hold a conservation easement, including easements to preserve open space,
the environment, historic land areas, or historic structures? If "Yes," complete Schedule D, Part IIClick to see attachment
List of Attached Documents:
// Content
....
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes,"
complete Schedule D, Part IIIClick to see attachment
List of Attached Documents:
// Content
..............
8
Yes
 
9
Did the organization report an amount in Part X, line 21 for escrow or custodial account liability; serve as a custodian for amounts not listed in Part X; or provide credit counseling, debt management, credit repair, or debt negotiation services? If "Yes," complete Schedule D, Part IVClick to see attachment
List of Attached Documents:
// Content
..............
9
Yes
 
10
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi endowments? If "Yes," complete Schedule D, Part V......
10
Yes
 
11
If the organization’s answer to any of the following questions is "Yes," then complete Schedule D, Parts VI, VII, VIII, IX, or X, as applicable.
a
Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes," complete
Schedule D, Part VI. Click to see attachment
List of Attached Documents:
// Content
...................
11a
Yes
 
b
Did the organization report an amount for investments—other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIClick to see attachment
List of Attached Documents:
// Content
.......
11b
Yes
 
c
Did the organization report an amount for investments—program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part VIIIClick to see attachment
List of Attached Documents:
// Content
.......
11c
 
No
d
Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part IXClick to see attachment
List of Attached Documents:
// Content
............
11d
Yes
 
e
Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part XClick to see attachment
List of Attached Documents:
// Content
11e
Yes
 
f
Did the organization’s separate or consolidated financial statements for the tax year include a footnote that addresses the organization’s liability for uncertain tax positions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part XClick to see attachment
List of Attached Documents:
// Content
11f
Yes
 
12a
Did the organization obtain separate, independent audited financial statements for the tax year? If "Yes," complete
Schedule D, Parts XI and XIIClick to see attachment
List of Attached Documents:
// Content
......................
12a
 
No
b
Was the organization included in consolidated, independent audited financial statements for the tax year? If "Yes," and if the organization answered "No" to line 12a, then completing Schedule D, Parts XI and XII is optional Click to see attachment
List of Attached Documents:
// Content
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule EClick to see attachment
List of Attached Documents:
// Content
13
Yes
 
14a
Did the organization maintain an office, employees, or agents outside of the United States? .....
14a
Yes
 
b
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts I and IV.........Click to see attachment
List of Attached Documents:
// Content
14b
Yes
 
15
Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other assistance to or for any foreign organization? If “Yes,” complete Schedule F, Parts II and IV.....Click to see attachment
List of Attached Documents:
// Content
15
 
No
16
Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other assistance to or for foreign individuals? If “Yes,” complete Schedule F, Parts III and IV...Click to see attachment
List of Attached Documents:
// Content
16
Yes
 
17
Did the organization report a total of more than $15,000 of expenses for professional fundraising services on Part IX, column (A), lines 6 and 11e? If "Yes," complete Schedule G, Part I. See instructions. ....Click to see attachment
List of Attached Documents:
// Content
17
Yes
 
18
Did the organization report more than $15,000 total of fundraising event gross income and contributions on Part VIII, lines 1c and 8a? If "Yes," complete Schedule G, Part II............ Click to see attachment
List of Attached Documents:
// Content
18
Yes
 
19
Did the organization report more than $15,000 of gross income from gaming activities on Part VIII, line 9a? If "Yes," complete Schedule G, Part III...................Click to see attachment
List of Attached Documents:
// Content
19
 
No
20a
Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....
20a
 
No
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
 
 
21
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government on Part IX, column (A), line 1? If “Yes,” complete Schedule I, Parts I and II.....Click to see attachment
List of Attached Documents:
// Content
21
Yes
 
Form 990 (2024)
Form 990 (2024)
Page 4
Part IV
Checklist of Required Schedules (continued)
Yes
No
22
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals on Part IX, column (A), line 2? If “Yes,” complete Schedule I, Parts I and III........Click to see attachment
List of Attached Documents:
// Content
22
Yes
 
23
Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5, about compensation of the organization’s current and former officers, directors, trustees, key employees, and highest compensated employees? If "Yes," complete Schedule J....................... Click to see attachment
List of Attached Documents:
// Content
23
Yes
 
24a
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002? If “Yes,” answer lines 24b through 24d and complete Schedule K. If “No,” go to line 25a...............Click to see attachment
List of Attached Documents:
// Content
24a
Yes
 
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
Yes
 
c
Did the organization maintain an escrow account other than a refunding escrow at any time during the year
to defease any tax-exempt bonds? ...............
24c
 
No
d
Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...
24d
 
No
25a
Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction with a disqualified person during the year? If "Yes," complete Schedule L, Part I .... Click to see attachment
List of Attached Documents:
// Content
25a
 
No
b
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization’s prior Forms 990 or 990-EZ? If "Yes," complete Schedule L, Part I.......................Click to see attachment
List of Attached Documents:
// Content
25b
 
No
26
Did the organization report any amount on Part X, line 5 or 22 for receivables from or payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part IIClick to see attachment
List of Attached Documents:
// Content
...........
26
Yes
 
27
Did the organization provide a grant or other assistance to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or employee thereof, a grant selection committee member, or to a 35% controlled entity (including an employee thereof) or family member of any of these persons?
If "Yes," complete
Schedule L, Part IIIClick to see attachment
List of Attached Documents:
// Content
.........................
27
 
No
28
Was the organization a party to a business transaction with one of the following parties (see the Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions):
a
A current or former officer, director, trustee, key employee, creator or founder, or substantial contributor? If "Yes," complete Schedule L, Part IV......................Click to see attachment
List of Attached Documents:
// Content
28a
 
No
b
A family member of any individual described in line 28a? If "Yes," complete Schedule L, Part IV.....Click to see attachment
List of Attached Documents:
// Content
28b
Yes
 
c
A 35% controlled entity of one or more individuals and/or organizations described in line 28a or 28b? If "Yes," complete Schedule L, Part IV.....................
28c
Yes
 
29
Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..Click to see attachment
List of Attached Documents:
// Content
29
Yes
 
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M .................Click to see attachment
List of Attached Documents:
// Content
30
Yes
 
31
Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N, Part I
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II........................
32
 
No
33
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3? If "Yes," complete Schedule R, Part I............Click to see attachment
List of Attached Documents:
// Content
33
Yes
 
34
Was the organization related to any tax-exempt or taxable entity? If "Yes," complete Schedule R, Part II, III, or IV, and Part V, line 1.........................Click to see attachment
List of Attached Documents:
// Content
34
Yes
 
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
Yes
 
b
If ‘Yes’ to line 35a, did the organization receive any payment from or engage in any transaction with a controlled entity within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2 ...Click to see attachment
List of Attached Documents:
// Content
35b
Yes
 
36
Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes," complete Schedule R, Part V, line 2............. Click to see attachment
List of Attached Documents:
// Content
36
 
No
37
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes," complete Schedule R, Part VIClick to see attachment
List of Attached Documents:
// Content
37
 
No
38
Did the organization complete Schedule O and provide explanations on Schedule O for Part VI, lines 11b and 19? Note. All Form 990 filers are required to complete Schedule O. ............
38
Yes
 
Part V
Statements Regarding Other IRS Filings and Tax Compliance
Check if Schedule O contains a response or note to any line in this Part V...........
Yes
No
1a
Enter the number reported in box 3 of Form 1096. Enter -0- if not applicable ..
1a
11,736
b
Enter the number of Forms W-2G included on line 1a. Enter -0- if not applicable .
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
Form 990 (2024)
Form 990 (2024)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance (continued)
2a
Enter the number of employees reported on Form W-3, Transmittal of Wage and
Tax Statements, filed for the calendar year ending with or within the year covered by this return ..................
2a
5,155
b
If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?...
3a
Yes
 
b
If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...
3b
Yes
 
4a
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)? ..
4a
Yes
 
b
If "Yes," enter the name of the foreign country: AR , GM , IT , SZ , UK , RW , GH
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year? ..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............
5c
 
 
6a
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions? ...
6a
 
No
b
If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? ......................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor? ....................
7a
Yes
 
b
If "Yes," did the organization notify the donor of the value of the goods or services provided? .....
7b
Yes
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282? .........................
7c
 
No
d
If "Yes," indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? ......................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C? ..........................
7h
 
 
8
Sponsoring organizations maintaining donor advised funds. Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year? ........
8
 
No
9
Sponsoring organizations maintaining donor advised funds.
a
Did the sponsoring organization make any taxable distributions under section 4966?........
9a
 
No
b
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...
9b
 
No
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
Gross income from other sources. (Do not net amounts due or paid to other sources against amounts due or received from them.) ..........
11b
 
12a
Section 4947(a)(1) non-exempt charitable trusts. Is the organization filing Form 990 in lieu of Form 1041?
12a
 
 
b
If "Yes," enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
Is the organization licensed to issue qualified health plans in more than one state? .........
Note. See the instructions for additional information the organization must report on Schedule O.
13a
 
 
b
Enter the amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans ....
13b
 
c
Enter the amount of reserves on hand ............
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..
14b
 
 
15
Is the organization subject to the section 4960 tax on payment(s) of more than $1,000,000 in remuneration or excess parachute payment(s) during the year? ....................
If "Yes," see the instructions and file Form 4720, Schedule N.
15
 
No
16
Is the organization an educational institution subject to the section 4968 excise tax on net investment income? ..
If "Yes," complete Form 4720, Schedule O.
16
 
No
17
Section 501(c)(21) organizations. Did the trust, or any disqualified or other person engage in any activities that would result in the imposition of an excise tax under section 4951, 4952, or 4953? ..
If "Yes," complete Form 6069.
17
 
 
Form 990 (2024)
Form 990 (2024)
Page 6
Part VI
Governance, Management, and Disclosure. For each "Yes" response to lines 2 through 7b below, and for a "No" response to lines 8a, 8b, or 10b below, describe the circumstances, processes, or changes in Schedule O. See instructions.
Check if Schedule O contains a response or note to any line in this Part VI..............
Section A. Governing Body and Management
Yes
No
1a
Enter the number of voting members of the governing body at the end of the tax year
1a
21
If there are material differences in voting rights among members of the governing body, or if the governing body delegated broad authority to an executive committee or similar committee, explain in Schedule O.
b
Enter the number of voting members included in line 1a, above, who are independent
1b
20
2
Did any officer, director, trustee, or key employee have a family relationship or a business relationship with any other officer, director, trustee, or key employee? .................
2
Yes
 
3
Did the organization delegate control over management duties customarily performed by or under the direct supervision of officers, directors or trustees, or key employees to a management company or other person? .
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? .
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
 
No
7a
Did the organization have members, stockholders, or other persons who had the power to elect or appoint one or more members of the governing body? ....................
7a
 
No
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................
7b
 
No
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .......................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
Is there any officer, director, trustee, or key employee listed in Part VII, Section A, who cannot be reached at the organization’s mailing address? If "Yes," provide the names and addresses in Schedule O.......
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
If "Yes," did the organization have written policies and procedures governing the activities of such chapters, affiliates, and branches to ensure their operations are consistent with the organization's exempt purposes?
10b
 
 
11a
Has the organization provided a complete copy of this Form 990 to all members of its governing body before filing the form? ............................
11a
Yes
 
b
Describe on Schedule O the process, if any, used by the organization to review this Form 990. .....
12a
Did the organization have a written conflict of interest policy? If "No," go to line 13.......
12a
Yes
 
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................
12b
Yes
 
c
Did the organization regularly and consistently monitor and enforce compliance with the policy? If "Yes," describe on Schedule O how this was done...................
12c
Yes
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did the organization have a written document retention and destruction policy? .........
14
Yes
 
15
Did the process for determining compensation of the following persons include a review and approval by independent persons, comparability data, and contemporaneous substantiation of the deliberation and decision?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
Yes
 
If "Yes" to line 15a or 15b, describe the process on Schedule O. See instructions.
16a
Did the organization invest in, contribute assets to, or participate in a joint venture or similar arrangement with a taxable entity during the year? ......................
16a
 
No
b
If "Yes," did the organization follow a written policy or procedure requiring the organization to evaluate its participation in joint venture arrangements under applicable federal tax law, and take steps to safeguard the organization’s exempt status with respect to such arrangements? ............
16b
 
 
Section C. Disclosure
17
List the states with which a copy of this Form 990 is required to be filed
CA , KY , MA , MD , MI , NH , OR , SC
18
Section 6104 requires an organization to make its Form 1023 (1024 or 1024-A, if applicable), 990, and 990-T (section 501(c)(3)s only) available for public inspection. Indicate how you made these available. Check all that apply.
19
Describe in Schedule O whether (and if so, how) the organization made its governing documents, conflict of interest policy, and financial statements available to the public during the tax year.
20
State the name, address, and telephone number of the person who possesses the organization's books and records:
MICHAEL MILLAR CONTROLLER24255 PACIFIC COAST HIGHWAY   MALIBU,CA902634497 (818) 702-1364
Form 990 (2024)
Form 990 (2024)
Page 7
Part VII
Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
Check if Schedule O contains a response or note to any line in this Part VII..............
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
1a Complete this table for all persons required to be listed. Report compensation for the calendar year ending with or within the organization’s tax year.
RoundBullet List all of the organization’s current officers, directors, trustees (whether individuals or organizations), regardless of amount
of compensation. Enter -0- in columns (D), (E), and (F) if no compensation was paid.

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

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

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

See the instructions for the order in which to list the persons above.
Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee.
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(1) DEE ANNA SMITH......................................................................
CHAIR, REGENT
 1.00
.................
1.00 		X   X       0 0 0
(2) ALAN BEARD......................................................................
REGENT THRU 5/25
 1.00
.................
0.00 		X           0 0 0
(3) ANNA MERGELE......................................................................
REGENT
 1.00
.................
0.00 		X           0 0 0
(4) CHRISTOPHER RUDD......................................................................
REGENT
 1.00
.................
0.00 		X           0 0 0
(5) DALE BROWN......................................................................
REGENT
 1.00
.................
0.00 		X           0 0 0
(6) DENNIS LEWIS......................................................................
REGENT
 1.00
.................
0.00 		X           0 0 0
(7) ERIC WOLFORD......................................................................
REGENT
 1.00
.................
0.00 		X           0 0 0
(8) FREDERICK RICKER......................................................................
VICE CHAIR, REGENT
 1.00
.................
0.00 		X   X       0 0 0
(9) JAMES GASH......................................................................
PRESIDENT & CEO
 40.00
.................
2.00 		X   X       917,815 0 405,190
(10) JAY WELKER......................................................................
SECRETARY, REGENT
 1.00
.................
1.00 		X   X       0 0 0
(11) JEREMY JOHNSON......................................................................
REGENT
 1.00
.................
0.00 		X           0 0 0
(12) JOHN LEWIS......................................................................
ASSISTANT SECRETARY, REGENT
 1.00
.................
1.00 		X   X       0 0 0
(13) JOHN PLUEGER......................................................................
REGENT
 1.00
.................
0.00 		X           0 0 0
(14) KASEY PIPES......................................................................
REGENT
 1.00
.................
0.00 		X           0 0 0
(15) KIMBERLY LINDLEY......................................................................
REGENT
 1.00
.................
0.00 		X           0 0 0
(16) MICHAEL OKABAYASHI......................................................................
REGENT
 1.00
.................
0.00 		X           0 0 0
(17) PETER JOHNSON JR......................................................................
REGENT
 1.00
.................
0.00 		X           0 0 0
Form 990 (2024)
Form 990 (2024)
Page 8
Part VII
Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued)
(A)
Name and title 		(B)
Average hours per week (list any hours for related organizations below dotted line) 		(C)
Position (do not check more than one box, unless person is both an officer and a director/trustee) 		(D)
Reportable compensation from the organization (W-2/1099-MISC/1099-NEC) 		(E)
Reportable compensation from related organizations (W-2/1099-MISC/1099-NEC) 		(F)
Estimated amount of other compensation from the organization and related organizations
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(18) R CHARLES WALKER JR........................................................................
REGENT
 1.00
.......................0.00 		X           0 0 0
(19) SETH HAYE........................................................................
REGENT
 1.00
.......................0.00 		X           0 0 0
(20) SHELLE ENSIO........................................................................
REGENT
 1.00
.......................0.00 		X           0 0 0
(21) STEPHEN STEWART........................................................................
REGENT
 1.00
.......................0.00 		X           0 0 0
(22) VIRGINIA MILSTEAD........................................................................
REGENT
 1.00
.......................0.00 		X           0 0 0
(23) BEN VEENENDAAL........................................................................
VP PLANNING, OPS & CONSTRUCTION
 40.00
.......................0.00 		    X       239,148 0 63,275
(24) CONNIE HORTON........................................................................
VP STUDENT AFFAIRS, VC RISE
 40.00
.......................0.00 		    X       204,856 0 161,918
(25) DAMON SEAN BURNETT........................................................................
SVP, INTEGRATED MARKETING & CMO
 40.00
.......................0.00 		    X       302,795 0 157,216
(26) DANIEL DEWALT........................................................................
VP & CHIEF OF STAFF
 40.00
.......................2.00 		    X       389,748 0 68,421
(27) GREG RAMIREZ........................................................................
CHIEF FINANCIAL OFFICER
 40.00
.......................1.00 		    X       427,277 0 36,961
(28) JAY BREWSTER........................................................................
PROVOST & CHIEF ACADEMIC OFFICER
 40.00
.......................0.00 		    X       473,194 0 382,341
(29) JERI-ELAYNE GOOSBY SMITH........................................................................
VP COMM BELONGING & CDO
 40.00
.......................0.00 		    X       292,655 0 37,840
(30) LARRY PERRIN........................................................................
SVP STRATEGIC IMPLEMENTATION
 40.00
.......................0.00 		    X       400,269 0 54,006
(31) MICHAEL THOMAS........................................................................
VP, INTEGRATED MARKETING
 40.00
.......................0.00 		    X       250,549 0 57,994
(32) NICOLLE TAYLOR........................................................................
SENIOR VP, COO
 40.00
.......................1.00 		    X       409,633 0 51,461
(33) PHIL PHILLIPS........................................................................
EXEC. VICE PRESIDENT
 40.00
.......................0.00 		    X       440,255 0 276,727
(34) SARA COSENTINO........................................................................
VP FOR ADV & CHIEF DEV OFFICER
 40.00
.......................1.00 		    X       399,210 0 81,779
(35) SARA YOUNG JACKSON........................................................................
CHANCELLOR
 40.00
.......................0.00 		    X       498,205 0 61,860
(36) SHARON BEARD........................................................................
INTERIM VP STUDENT AFFAIRS FROM 7/25
 40.00
.......................0.00 		    X       167,163 0 164,224
(37) TIMOTHY SPIVEY........................................................................
VP SPIRITUAL LIFE
 40.00
.......................0.00 		    X       167,453 0 244,825
(38) DEBORAH CROWN........................................................................
DEAN OF PGBS
 40.00
.......................0.00 		      X     410,079 0 55,752
(39) FARZIN MADJIDI........................................................................
DEAN, GSEP
 40.00
.......................0.00 		      X     258,769 0 165,219
(40) FAYE HOLTON........................................................................
DIRECTOR OF INVESTMENTS
 35.00
.......................6.00 		      X     248,525 0 44,705
(41) JEFFREY ROHDE........................................................................
CHIEF INVESTMENT OFFICER
 40.00
.......................2.00 		      X     447,528 0 76,885
(42) JONATHAN SEE........................................................................
CHIEF INFORMATION OFFICER
 40.00
.......................0.00 		      X     249,221 0 74,690
(43) KATELYN CROWE........................................................................
CONTROLLER THRU 6/25
 40.00
.......................0.00 		      X     227,278 0 23,964
(44) LEE KATS........................................................................
DEAN, SEAVER FROM 3/25
 40.00
.......................0.00 		      X     409,117 0 43,259
(45) LILA MCDOWELL CARLSEN........................................................................
VICE PROVOST FROM 3/25 & PROFESSOR
 40.00
.......................0.00 		      X     250,775 0 60,187
(46) MICHAEL NICKS........................................................................
DIRECTOR OF INVESTMENTS
 40.00
.......................0.00 		      X     250,151 0 75,589
(47) EDMUND SCHILLING........................................................................
HEAD COACH, BASKETBALL
 40.00
.......................0.00 		        X   558,269 0 21,022
(48) EDWARD LARSON........................................................................
DARLING CHAIR IN LAW & PROF
 40.00
.......................0.00 		        X   358,415 0 53,334
(49) KIRON SKINNER........................................................................
PROFESSOR, SCHOOL OF PUBLIC POLICY
 40.00
.......................0.00 		        X   478,467 0 48,896
(50) LORENZO ROMAR........................................................................
HEAD COACH, BASKETBALL
 40.00
.......................0.00 		        X   461,602 0 17,684
(51) MICHAEL FELTNER........................................................................
DEAN OF COLLEGE OF HEALTH SCIENCE
 40.00
.......................0.00 		        X   405,249 0 84,029
(52) GARY HANSON........................................................................
SENIOR EVP THRU 7/24
 40.00
.......................0.00 		          X 237,358 0 39,443
(53) RICK GIBSON........................................................................
SV CHANCELLOR THRU 7/24
 40.00
.......................0.00 		          X 119,305 0 78,325
(54) DAVID SMITH........................................................................
SENIOR ASSOCIATE PROVOST & PROFESSOR
 40.00
.......................0.00 		          X 346,575 0 36,241
(55) PAUL CARON........................................................................
DEAN, CARUSO SCHOOL OF LAW
 40.00
.......................0.00 		          X 353,109 0 221,378
1b Sub-Total..............
c Total from continuation sheets to Part VII, Section A..
d Total (add lines 1b and 1c)......... 12,050,017 0 3,526,640
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization 547
Yes
No
3
Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If "Yes," complete Schedule J for such individual ..............
3
Yes
 
4
For any individual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If "Yes," complete Schedule J for such
individual...........................
4
Yes
 
5
Did any person listed on line 1a receive or accrue compensation from any unrelated organization or individual for services rendered to the organization? If "Yes," complete Schedule J for such person ........
5
 
No
Section B. Independent Contractors
1
Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization. Report compensation for the calendar year ending with or within the organization’s tax year.
(A)
Name and business address 		(B)
Description of services 		(C)
Compensation
CLARK CONSTRUCTION GROUP - CA LP

18201 VON KARMAN STE 800
IRVINE,CA92612 		CONSTRUCTION 88,310,245
2U INC

7900 HARKINS ROAD
LANHAM,MD20706 		E-LEARNING 54,190,121
BON APPETIT MANAGEMENT COMPANY

PO BOX 50196
LOS ANGELES,CA900740196 		CATERING 11,411,379
TURNER & TOWNSEND HEERY LLC

3550 LENOX ROAD
ATLANTA,GA30326 		CONSTRUCTION 5,233,313
THE PENTA BUILDING GROUP LLC

181 E WARM SPRINGS RD
LAS VEGAS,NV89119 		CONSTRUCTION 3,560,852
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 223
Form 990 (2024)
Form 990 (2024)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII.............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512 - 514
Contributions, Gifts, Grants, and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues..1b  
c Fundraising events..1c 731,732
d Related organizations1d 6,900
e Government grants (contributions)1e 5,155,040
f All other contributions, gifts, grants, and similar amounts not included above1f 50,445,977
g Noncash contributions included in lines 1a - 1f:$ 1g 6,245,872
h Total. Add lines 1a-1f....... 56,339,649
Program Service RevenueAmt Business Code
2a STUDENT TUITION & FEES 611710 498,357,943 498,357,943    
b ROOM AND BOARD 611710 50,092,254 50,092,254    
c OTHER REVENUE 611710 3,536,504 3,536,504    
d SALES AND SERVICES 611710 1,985,546 1,985,546    
e
f All other program service revenue.        
g Total. Add lines 2a–2f ..... 553,972,247
OtherAmtRevenueAmt 3 Investment income (including dividends, interest, and othersimilar amounts) ...... 34,337,005   8,110,907 26,226,098
4 Income from investment of tax-exempt bond proceeds        
5 Royalties...........        
(i) Real (ii) Personal
6a Gross rents 6a 861,418  
b Less: rental expenses 6b 0  
c Rental income or (loss) 6c 861,418  
d Net rental income or (loss)....... 861,418 98,140   713,505
(i) Securities (ii) Other
7a Gross amount from sales of assets other than inventory 7a 556,205,852  
b Less: cost or other basis and sales expenses 7b 468,895,420  
c Gain or (loss) 7c 87,310,432  
d Net gain or (loss)......... 87,310,432   11,068,739 76,241,693
8a Gross income from fundraising events (not including $ 731,732of contributions reported on line 1c). See Part IV, line 18 ....
8a 592,387
b Less: direct expenses ... 8b 935,304
c Net income or (loss) from fundraising events.. -342,917   -342,917
9a Gross income from gaming activities.
See Part IV, line 19 ...
9a 420
b Less: direct expenses ... 9b 0
c Net income or (loss) from gaming activities.. 420     420
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..        
OtherRevenueMiscAmt
Business Code
11a OPERATING INTEREST REV 900099 6,741,660   0 6,741,660
b OTHER NON PROGRAM REV 900099 6,291,328   93,100 6,198,228
c SALES AND SERVICES 900099 5,605,449   3,911,572 1,693,877
d All other revenue .... 4,000,000     4,000,000
e Total. Add lines 11a–11d ...... 22,638,437
12 Total revenue. See instructions..... 755,116,691 554,070,387 23,234,091 121,472,564
Form 990 (2024)
Form 990 (2024)
Page 10
Part IX
Statement of Functional Expenses
Section 501(c)(3) and 501(c)(4) organizations must complete all columns. All other organizations must complete column (A).Check if Schedule O contains a response or note to any line in this Part IX..............
Do not include amounts reported on lines 6b,
7b, 8b, 9b, and 10b of Part VIII. 		(A)
Total expenses 		(B)
Program service expenses 		(C)
Management and general expenses 		(D)
Fundraising
expenses
1 Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 .... 10,750 10,750
2 Grants and other assistance to domestic individuals. See Part IV, line 22 ........... 141,630,402 141,630,402
3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. ............. 8,731,952 8,731,952
4 Benefits paid to or for members .......    
5 Compensation of current officers, directors, trustees, and key employees ........... 10,718,699 3,122,408 5,806,896 1,789,395
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ......... 3,205,912 2,396,861 533,573 275,478
7 Other salaries and wages........ 188,694,630 136,358,303 48,114,975 4,221,352
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 12,826,918 8,656,042 3,850,931 319,945
9 Other employee benefits ....... 31,132,658 24,382,686 5,918,634 831,338
10 Payroll taxes ........... 13,724,459 9,337,829 4,002,606 384,024
11 Fees for services (non-employees):        
a Management ......        
b Legal ......... 6,619,177 357,382 6,261,795  
c Accounting ........... 1,377,578 57,147 1,320,431  
d Lobbying ........... 52,276   52,276  
e Professional fundraising services. See Part IV, line 17 476,686 476,686
f Investment management fees ...... 7,853,587   7,853,587  
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) 57,870,300 56,747,362 1,122,938  
12 Advertising and promotion .... 6,282,245 802,494 5,331,973 147,778
13 Office expenses ....... 13,350,252 6,321,759 6,728,081 300,412
14 Information technology ...... 9,775,368 3,896,407 5,873,442 5,519
15 Royalties ..        
16 Occupancy ........... 13,379,729 8,969,036 4,408,508 2,185
17 Travel ............ 13,269,408 9,930,464 3,136,073 202,871
18 Payments of travel or entertainment expenses for any federal, state, or local public officials .        
19 Conferences, conventions, and meetings .... 5,243,224 3,443,705 1,761,563 37,956
20 Interest ........... 16,560,948 13,523,093 2,971,725 66,130
21 Payments to affiliates .......        
22 Depreciation, depletion, and amortization .. 32,843,505 26,561,094 6,152,528 129,883
23 Insurance ... 6,608,196 163,266 6,444,930  
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 STUDENT MEALS 12,218,094 1,220,310 10,997,552 232
b CONSTRUCTION & EQUIP 11,794,100 3,178,079 8,611,621 4,400
c EQUIPMENT RENTAL & MAIN 4,457,430 3,064,791 1,391,270 1,369
d LIBRARY EXPENSES 2,146,879 2,130,130 16,749  
e All other expenses 33,597,210 32,450,415 989,165 157,630
25 Total functional expenses. Add lines 1 through 24e 666,452,572 507,444,167 149,653,822 9,354,583
26 Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).        
Form 990 (2024)
Form 990 (2024)
Page 11
Part X
Balance Sheet
Check if Schedule O contains a response or note to any line in this Part IX..............
(A)
Beginning of year 		(B)
End of year
Assets 1 Cash–non-interest-bearing ........ 17,393,175 1 38,037,817
2 Savings and temporary cash investments ......... 71,998,121 2 69,914,730
3 Pledges and grants receivable, net ...... 43,656,073 3 45,527,272
4 Accounts receivable, net ............. 19,235,283 4 19,971,695
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 .......
1,390,151 5 1,689,201
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 ........... 6,698,126 7 7,355,994
8 Inventories for sale or use ............   8  
9 Prepaid expenses and deferred charges ...... 9,904,686 9 12,800,326
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 1,156,457,908
b Less: accumulated depreciation 10b 351,394,198 653,395,634 10c 805,063,710
11 Investments—publicly traded securities . 569,315,138 11 547,834,191
12 Investments—other securities. See Part IV, line 11 ..... 933,278,724 12 940,236,466
13 Investments—program-related. See Part IV, line 11 .. 11,873,325 13 11,721,734
14 Intangible assets ...............   14  
15 Other assets. See Part IV, line 11 ........... 272,476,446 15 232,398,574
16 Total assets. Add lines 1 through 15 (must equal line 33)... 2,610,614,882 16 2,732,551,710
Liabilities 17 Accounts payable and accrued expenses ..... 54,288,345 17 69,581,002
18 Grants payable ...   18  
19 Deferred revenue ......... 29,050,325 19 29,856,863
20 Tax-exempt bond liabilities ......... 29,963,639 20 24,993,561
21 Escrow or custodial account liability. Complete Part IV of Schedule D 31,511,434 21 32,405,894
22 Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
  22  
23 Secured mortgages and notes payable to unrelated third parties ..   23  
24 Unsecured notes and loans payable to unrelated third parties ..   24  
25 Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17 - 24). Complete Part X of Schedule D 611,737,078 25 601,891,450
26 Total liabilities. Add lines 17 through 25.. 756,550,821 26 758,728,770
Net Assets or Fund Balance Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27 Net assets without donor restrictions .......... 1,071,683,429 27 1,134,110,089
28 Net assets with donor restrictions ........... 782,380,632 28 839,712,851
Organizations that do not follow FASB ASC 958, check here right arrow and complete lines 29 through 33.
29 Capital stock or trust principal, or current funds .....   29  
30 Paid-in or capital surplus, or land, building or equipment fund ...   30  
31 Retained earnings, endowment, accumulated income, or other funds   31  
32 Total net assets or fund balances ........... 1,854,064,061 32 1,973,822,940
33 Total liabilities and net assets/fund balances ........ 2,610,614,882 33 2,732,551,710
Form 990 (2024)
Form 990 (2024)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI..............
1
Total revenue (must equal Part VIII, column (A), line 12) ............
1
755,116,691
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
666,452,572
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
88,664,119
4
Net assets or fund balances at beginning of year (must equal Part X, line 32, column (A)) ..
4
1,854,064,061
5
Net unrealized gains (losses) on investments ...............
5
22,113,301
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
 
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
8,981,459
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 32, column (B))
10
1,973,822,940
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line in this Part XII.............
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain on
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?
2a
 
No
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were compiled or reviewed on a separate basis, consolidated basis, or both:
b
Were the organization’s financial statements audited by an independent accountant?
2b
Yes
 
If ‘Yes,’ check a box below to indicate whether the financial statements for the year were audited on a separate basis, consolidated basis, or both:
c
If "Yes," to line 2a or 2b, does the organization have a committee that assumes responsibility for oversight of the audit, review, or compilation of its financial statements and selection of an independent accountant?
2c
Yes
 
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
3a
As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Uniform Guidance, 2 C.F.R. Part 200, Subpart F?
3a
Yes
 
b
If "Yes," did the organization undergo the required audit or audits? If the organization did not undergo the required audit or audits, explain why in Schedule O and describe any steps taken to undergo such audits.
3b
Yes
 
Form 990 (2024)
Form 990 (2024)
Additional Data


Software ID:  
Software Version:  
Form 990, Special Condition Description:
Special Condition Description
SCHEDULE A
(Form 990)

Department of the Treasury
Internal Revenue Service
Public Charity Status and Public Support
Complete if the organization is a section 501(c)(3) organization or a section 4947(a)(1) nonexempt charitable trust.
right arrow Attach to Form 990 or Form 990-EZ.
right arrow Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2024
Open to Public
Inspection
Name of the organization
PEPPERDINE UNIVERSITY
 
Employer identification number

95-1644037
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.)
1
2
3
4
5
6
7
8
9
10
11
12
a
b
c
d
e
f
Enter the number of supported organizations ...............................  
g
Provide the following information about the supported organization(s).
(i) Name of supported organization (ii) EIN (iii) Type of organization (described on lines 1- 10 above (see instructions)) (iv) Is the organization listed in your governing document? (v) Amount of monetary support (see instructions) (vi) Amount of other support (see instructions)
Yes No
Total
 
   
For Paperwork Reduction Act Notice, see the Instructions for
Form 990 or 990-EZ.
Cat. No. 11285F
Schedule A (Form 990) 2024

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) right arrow (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.") .. 67,242,887 71,538,193 44,076,355 31,484,848 56,339,649 270,681,932
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 67,242,887 71,538,193 44,076,355 31,484,848 56,339,649 270,681,932
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) .. 1,944,069
6 Public support. Subtract line 5 from line 4. 268,737,863
Section B. Total Support
Calendar year (or fiscal year beginning in) right arrow (a) 2020 (b) 2021 (c) 2022 (d) 2023 (e) 2024 (f) Total
7 Amounts from line 4.. 67,242,887 71,538,193 44,076,355 31,484,848 56,339,649 270,681,932
8 Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources... 79,329,098 21,255,394 33,571,510 28,300,271 26,939,603 189,395,876
9 Net income from unrelated business activities, whether or not the business is regularly carried on.. 538,255 4,400,240 1,172,617 3,663,030 6,088,809 15,862,951
10 Other income. Do not include gain or loss from the sale of capital assets (Explain in Part VI.).. 2,303,956 6,819,913 10,629,356 14,540,167 19,226,572 53,519,964
11 Total support. Add lines 7 through 10 529,460,723
12
12
2,685,432,854
13
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
14
14
50.760 %
15
15
52.060 %
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
b
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
b
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
18
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

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) right arrow (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) right arrow (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.)..            
14
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
15
15
 
16
16
 
Section D. Computation of Investment Income Percentage
17
17
 
18
18
 
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
b
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
20
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

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
No
1
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.
1
 
 
2
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).
2
 
 
3a
Did the organization have a supported organization described in section 501(c)(4), (5), or (6)? If "Yes," answer lines 3b and 3c below.
3a
 
 
b
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.
3b
 
 
c
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.
3c
 
 
4a
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.
4a
 
 
b
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.
4b
 
 
c
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.
4c
 
 
5a
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).
5a
 
 
b
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?
5b
 
 
c
Substitutions only. Was the substitution the result of an event beyond the organization's control?
5c
 
 
6
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.
6
 
 
7
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) .
7
 
 
8
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).
8
 
 
9a
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.
9a
 
 
b
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.
9b
 
 
c
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.
9c
 
 
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
 
 
b
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

Schedule A (Form 990) 2024
Page 5
Part IV
Supporting Organizations (continued)
Yes
No
11
Has the organization accepted a gift or contribution from any of the following persons?
a
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
 
 
b
A family member of a person described on 11a above?
11b
 
 
c
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
No
1
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.
1
 
 
2
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.
2
 
 
Section C. Type II Supporting Organizations
Yes
No
1
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).
1
 
 
Section D. All Type III Supporting Organizations
Yes
No
1
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?
1
 
 
2
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).
2
 
 
3
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.
3
 
 
Section E. Type III Functionally-Integrated Supporting Organizations
1
Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions):
a
b
c
2
Activities Test. Answer lines 2a and 2b below.
Yes
No
a
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.
2a
 
 
b
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.
2b
 
 
3
Parent of Supported Organizations. Answer lines 3a and 3b below.
a
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.
3a
 
 
b
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.
3b
 
 
Schedule A (Form 990) 2024

Schedule A (Form 990) 2024
Page 6
Part V
Type III Non-Functionally Integrated 509(a)(3) Supporting Organizations
1
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  
7
Schedule A (Form 990) 2024

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, PART II, LINE 10, EXPLANATION OF OTHER INCOME: FUNDRAISING EVENTS GAMING - 2020 AMOUNT: $ 103,145. 2021 AMOUNT: $ 377,142. 2022 AMOUNT: $ 644,230. 2023 AMOUNT: $ 714,596. 2024 AMOUNT: $ 592,387. OTHER INCOME - 2020 AMOUNT: $ 115,661. 2021 AMOUNT: $ 3,184,968. 2022 AMOUNT: $ 5,331,127. 2023 AMOUNT: $ 5,043,889. 2024 AMOUNT: $ 6,198,228. SALES AND SERVICES - 2020 AMOUNT: $ 1,447,201. 2021 AMOUNT: $ 3,254,943. 2022 AMOUNT: $ 4,652,279. 2023 AMOUNT: $ 8,779,312. 2024 AMOUNT: $ 1,693,877. GAMING INCOME - 2020 AMOUNT: $ 4,960. 2021 AMOUNT: $ 2,860. 2022 AMOUNT: $ 1,720. 2023 AMOUNT: $ 2,370. 2024 AMOUNT: $ 420. INSURANCE SETTLEMENT - 2020 AMOUNT: $ 632,989. SETTLEMENT PAYMENTS - 2024 AMOUNT: $ 4,000,000. OPERATING INTEREST REVENUE - 2024 AMOUNT: $ 6,741,660.
Schedule A (Form 990) 2024


Additional Data


Software ID:  
Software Version:  
Schedule B
(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Schedule of Contributors

right arrow Attach to Form 990, 990-EZ, or 990-PF.
right arrow Go to www.irs.gov/Form990 for the latest information.
OMB No. 1545-0047
Name of the organization
PEPPERDINE UNIVERSITY
 
Employer identification number

95-1644037
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
PEPPERDINE UNIVERSITY
  		Employer identification number
95-1644037
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


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(Complete Part II for noncash contributions.)
(a)
No.		 (b)
Name, address, and ZIP + 4		 (c)
Total contributions		 (d)
Type of contribution
 
 
 
 

$  


(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
PEPPERDINE UNIVERSITY
  		Employer identification number

95-1644037
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
PEPPERDINE UNIVERSITY
  		Employer identification number

95-1644037
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 (c) Use 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 (c) Use 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 (c) Use 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 (c) Use 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:  
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 arrowGo 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
PEPPERDINE UNIVERSITY
 
Employer identification number

95-1644037
Part I-A
Complete if the organization is exempt under section 501(c) or is a section 527 organization.

1
Provide a description of the organization’s direct and indirect political campaign activities in Part IV. See instructions for definition of “political campaign activities."

2
Political campaign activity expenditures. See instructions ....................................................................right arrow
$  
3
Volunteer hours for political campaign activities. See instructions ..................................................................
 

Part I-B
Complete if the organization is exempt under section 501(c)(3).
1
Enter the amount of any excise tax incurred by the organization under section 4955 ................................right arrow
$  
2
Enter the amount of any excise tax incurred by organization managers under section 4955 .......................right arrow
$  
3
If the organization incurred a section 4955 tax, did it file Form 4720 for this year? .........................................
4a
Was a correction made? ......................................................................................................................
b
If "Yes," describe in Part IV.
Part I-C
Complete if the organization is exempt under section 501(c), except section 501(c)(3).
1
Enter the amount directly expended by the filing organization for section 527 exempt function activities ..... right arrow
$  
2
Enter the amount of the filing organization's funds contributed to other organizations for section 527 exempt function activities ............................................................................................................................right arrow

$  
3
Total exempt function expenditures. Add lines 1 and 2. Enter here and on Form 1120-POL, line 17b...........right arrow

$  
4
Did the filing organization file Form 1120-POL for this year? ...................................................................
5
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

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 arrowexpenses, and share of excess lobbying expenditures).
B Check right arrow
Limits on Lobbying Expenditures
(The term "expenditures" means amounts paid or incurred.) 		(a) Filing
organization's
totals 		(b) Affiliated group totals
1a Total lobbying expenditures to influence public opinion (grass roots lobbying) ......................    
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? ...................................................................................................................

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


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
No
(b)
Amount
1
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:
a
Volunteers? ...........................................................................................................
 
No
b
Paid staff or management (include compensation in expenses reported on lines 1c through 1i)? ........
 
No
c
Media advertisements? ...................................................................................................
 
No
 
d
Mailings to members, legislators, or the public? .............................................................................
 
No
 
e
Publications, or published or broadcast statements? ...........................................................
 
No
 
f
Grants to other organizations for lobbying purposes? ..........................................................
Yes
 
2,588
g
Direct contact with legislators, their staffs, government officials, or a legislative body? .......................
 
No
 
h
Rallies, demonstrations, seminars, conventions, speeches, lectures, or any similar means? ..................
 
No
 
i
Other activities? ...................................................................................................................
Yes
 
49,688
j
Total. Add lines 1c through 1i ....................................................................................................
52,276
2a
Did the activities in line 1 cause the organization to be not described in section 501(c)(3)? .....
 
No
b
If "Yes," enter the amount of any tax incurred under section 4912 ...........................................
 
c
If "Yes," enter the amount of any tax incurred by organization managers under section 4912 ...................
 
d
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
No
1
Were substantially all (90% or more) dues received nondeductible by members? ...............................................
1
 
 
2
Did the organization make only in-house lobbying expenditures of $2,000 or less? ............................................
2
 
 
3
Did the organization agree to carry over lobbying and political expenditures from the prior year? .................................
3
 
 
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."
1
Dues, assessments and similar amounts from members ......................................................................
1
 
2
Section 162(e) nondeductible lobbying and political expenditures (do not include amounts of political expenses for which the section 527(f) tax was paid).
a
Current year .............................................................................................................................
2a
 
b
Carryover from last year ............................................................................................................
2b
 
c
Total ...........................................................................................................................................
2c
 
3
Aggregate amount reported in section 6033(e)(1)(A) notices of nondeductible section 162(e) dues .
3
 
4
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? ......................................................................................................................
4
 
5
Taxable amount of lobbying and political expenditures. See Instructions .........................................
5
 
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: LINE 1(F), GRANTS TO OTHER ORGANIZATIONS FOR LOBBYING PURPOSES: THE UNIVERSITY PAID MEMBERSHIP DUES TO THE NATIONAL ASSOCIATION OF COLLEGE AND UNIVERSITY BUSINESS OFFICERS AND THE ASSOCIATION OF INDEPENDENT CALIFORNIA COLLEGES AND UNIVERSITIES, A PORTION OF WHICH WAS USED BY THE ORGANIZATIONS TO LOBBY FOR HIGHER EDUCATION INITIATIVES. LINE 1(I), OTHER ACTIVITIES: THE UNIVERSITY HIRED A LOBBYING FIRM IN CONNECTION WITH LAND USE ISSUES.
Schedule C (Form 990) 2024


Additional Data


Software ID:  
Software Version:  

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
right arrow 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
PEPPERDINE UNIVERSITY
 
Employer identification number

95-1644037
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 ......... 7  
2 Aggregate value of contributions to (during year)    
3 Aggregate value of grants from (during year) 277,129  
4 Aggregate value at end of year ........ 1,484,844  
5
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? ............
6
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? ...................................
Part II
Conservation Easements.
Complete if the organization answered "Yes" on Form 990, Part IV, line 7.
1
Purpose(s) of conservation easements held by the organization (check all that apply).
2
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.
Held at the End of the 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  
3
Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during the
tax year right arrow  
4
Number of states where property subject to conservation easement is located right arrow  
5
Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and enforcement of the conservation easements it holds? ............
6
Staff and volunteer hours devoted to monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow  
7
Amount of expenses incurred in monitoring, inspecting, handling of violations, and enforcing conservation easements during the year
right arrow $  
8
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)? .............................
9
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.
1a
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.
b
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 $ 11,100,844
2
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:
a
Revenue included on Form 990, Part VIII, line 1 ..........................right arrow $  
b
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)

Schedule D (Form 990) (Rev. 1-2025)
Page 2
Part III
Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)
3
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):
a
d
b
e
 
c
4
Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.
5
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?...
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.
1a
Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................
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  
2a
Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability? ...
b
If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII ....
Part V
Endowment Funds.
Complete if the organization answered "Yes" on Form 990, Part IV, line 10.
(a) Current year (b) Prior year (c) Two years back (d) Three years back (e) Four years back
1a Beginning of year balance .... 1,319,031,044 1,218,871,505 1,200,868,391 1,145,290,820 908,307,875
b Contributions ... 27,974,733 16,300,465 27,297,369 87,393,092 23,371,272
c Net investment earnings, gains, and losses 132,183,986 140,901,535 48,419,708 21,517,845 273,594,646
d Grants or scholarships ... 18,295,573 17,517,115 16,825,278 16,113,915 15,474,077
e Other expenditures for facilities
and programs ... 		125,911,580 39,525,347 40,888,685 37,219,451 44,508,896
f Administrative expenses ....          
g End of year balance ...... 1,334,982,610 1,319,031,044 1,218,871,505 1,200,868,391 1,145,290,820
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment right arrow52.444 %
b
Permanent endowment right arrow34.878 %
c
Term endowment right arrow12.678 %
The percentages on lines 2a, 2b, and 2c should equal 100%.
3a
Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes
No
(i) Unrelated organizations .................
3a(i)
Yes
 
(ii) Related organizations .................
3a(ii)
Yes
 
b
If "Yes" on 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
Yes
 
4
Describe in Part XIII the intended uses of the organization's endowment funds.
Part VI
Land, Buildings, and Equipment.
Complete if the organization answered "Yes" on Form 990, Part IV, line 11a. See Form 990, Part X, line 10.
Description of property (a) Cost or other basis
(investment) 		(b) Cost or other basis (other) (c) Accumulated depreciation (d) Book value
1a Land .....   24,719,804 24,719,804
b Buildings .... 26,499,843 1,014,179,170 328,530,724 712,148,289
c Leasehold improvements        
d Equipment ....   70,795,179 22,525,586 48,269,593
e Other .....   20,263,912 337,888 19,926,024
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..right arrow 805,063,710
Schedule D (Form 990) (Rev. 1-2025)

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) ALTERNATIVE INVESTMENTS		 936,951,675 F

(B) LIMITED PARTNERSHIPS		 1,773,184 F

(C) OTHER INVESTMENTS		 1,109,843 F

(D) CASH & CASH EQUIV. INVESTMENTS		 401,764 C
(D)
(E)
(F)
(G)
(H)
Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)right arrow 940,236,466
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.)right arrow  
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)ASSETS HELD AS TRUSTEE 41,020,088
(2)INVESTMENTS IN SUBSIDIARIES 87,284,665
(3)ASSETS UNDER AGENCY AGREEMENTS 72,910,815
(4)RIGHT OF USE ASSETS 31,183,006
(4)
(5)
(6)
(7)
(8)
(9)
Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........right arrow 232,398,574
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  
U.S. GOVERNMENT STUDENT LOANS 842,098
TAXABLE BOND LIABILITIES 562,657,374
LEASE LIABILITY 38,391,978






Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)right arrow 601,891,450
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)

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 ....... 1 628,930,814
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains (losses) on investments .... 2a 22,113,301
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ........... 2d 9,916,763
e Add lines 2a through 2d ..................... 2e 32,030,064
3 Subtract line 2e from line 1.................. 3 596,900,750
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 7,853,587
b Other (Describe in Part XIII.) ........... 4b 150,362,354
c Add lines 4a and 4b.................... 4c 158,215,941
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5 755,116,691
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 ........... 1 509,171,935
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 935,304
e Add lines 2a through 2d.................... 2e 935,304
3 Subtract line 2e from line 1................... 3 508,236,631
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 7,853,587
b Other (Describe in Part XIII.) ........... 4b 150,362,354
c Add lines 4a and 4b..................... 4c 158,215,941
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5 666,452,572
Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
PART III, LINE 4: COLLECTION OF ART AND OTHER SIMILAR ASSETS: COLLECTIONS CONSIST OF ITEMS ACQUIRED BY THE UNIVERSITY'S LIBRARY THAT REQUIRE SPECIAL HANDLING DUE TO THEIR RARITY, VALUE, AND/OR PHYSICAL CONDITION. THE UNIVERSITY ALSO MAINTAINS AN ARCHIVAL COLLECTION OF OFFICIAL DOCUMENTS, PAPERS, PUBLICATIONS, AND ARTIFACTS OF PEPPERDINE UNIVERSITY AND PERSONS CONNECTED WITH THE UNIVERSITY. THESE COLLECTIONS ARE PROTECTED AND PRESERVED FOR EDUCATION, RESEARCH, AND PUBLIC EXHIBITION.
PART IV, LINE 2B: ESCROW AND CUSTODIAL ARRANGEMENTS: PEPPERDINE UNIVERSITY RECORDS A CUSTODIAL LIABILITY FOR CHARITABLE GIFT ANNUITIES, CHARITABLE REMAINDER TRUSTS, AND LIFE ESTATES THAT ARE SUBJECT TO LIFE INTERESTS OF THE BENEFICIARIES. NO SIGNIFICANT FINANCIAL BENEFIT CAN BE REALIZED UNTIL THE CONTRACTUAL OBLIGATIONS ARE RELEASED. THE UNIVERSITY ALSO ACTS AS THE FISCAL AGENT FOR FUNDS RELATED TO UNIVERSITY SPONSORED AND/OR AFFILIATED PROGRAMS, AS WELL AS STUDENT GROUPS. THE UNIVERSITY DOES NOT OWN THE FUNDS ASSOCIATED WITH THESE GROUPS.
PART V, LINE 4: USE OF ENDOWMENT FUNDS: THE INTENT OF PEPPERDINE UNIVERSITY'S ENDOWMENT FUND IS TO GENERATE REVENUES NECESSARY TO SUPPORT THE UNIVERSITY'S EXEMPT PURPOSE, INCLUDING EDUCATION, RESEARCH, AND SCHOLARSHIP.
PART X, LINE 2: LIABILITY FOR UNCERTAIN TAX POSITIONS: AS A NOT-FOR-PROFIT EDUCATIONAL INSTITUTION, THE UNIVERSITY IS EXEMPT FROM FEDERAL AND CALIFORNIA INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND SECTION 23701(D) OF THE CALIFORNIA REVENUE AND TAXATION CODE (EXCEPT FOR TAXES ON UNRELATED BUSINESS INCOME). SINCE THE UNIVERSITY'S UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JULY 31, 2025 AND 2024 WAS IMMATERIAL, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS.
PART XI, LINE 2D - OTHER ADJUSTMENTS: ACTUARIAL ADJUSTMENT OF TRUST OBLIGATIONS -1,892,492. FUNDRAISING EXP REPORTED AS FUNCTIONAL EXP ON FS 935,304. ANNUITY FUNDS TRANSFERRED FROM RELATED ORGANIZATION 12,515,802. CHANGE IN VALUE OF BENEFICIAL INTEREST -1,641,851.
PART XI, LINE 4B - OTHER ADJUSTMENTS: GROSS-UP FINANCIAL AID REPORTED NET ON FINANCIALS 150,362,354.
PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXP REPORTED NET OF REVENUE ON FORM 990 935,304.
PART XII, LINE 4B - OTHER ADJUSTMENTS: GROSS-UP FINANCIAL AID REPORTED NET ON FINANCIALS 150,362,354.
Schedule D (Form 990) (Rev. 1-2025)


Additional Data


Software ID:  
Software Version:  




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


Department of the Treasury
Internal Revenue Service
Schools

Right pointing arrow large image 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
PEPPERDINE UNIVERSITY
 
Employer identification number

95-1644037
Part I
YES
NO
1
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? . . . . . . . . . . . . . . . . . .
1
Yes
 
2
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? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
2
Yes
 
3
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. . . . . . . . . . . . . . . . . . .
3
Yes
 
 
4
Does the organization maintain the following:
a
Records indicating the racial composition of the student body, faculty, and administrative staff? . . . . . . . . .
4a
Yes
 
b
Records documenting that scholarships and other financial assistance are awarded on a racially nondiscriminatory
basis? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
4b
Yes
 
c
Copies of all catalogues, brochures, announcements, and other written communications to the public dealing
with student admissions, programs, and scholarships? . . . . . . . . . . . . . . . . . . . . . . .
4c
Yes
 
d
Copies of all material used by the organization or on its behalf to solicit contributions? . . . . . . . . . . . .
4d
Yes
 
If you answered "No" to any of the above, please explain. If you need more space, use Part II.
 
5
Does the organization discriminate by race in any way with respect to:
a
Students' rights or privileges? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5a
 
No
b
Admissions policies? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5b
 
No
c
Employment of faculty or administrative staff? . . . . . . . . . . . . . . . . . . . . . . . . .
5c
 
No
d
Scholarships or other financial assistance? . . . . . . . . . . . . . . . . . . . . . . . . . .
5d
 
No
e
Educational policies? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5e
 
No
f
Use of facilities? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5f
 
No
g
Athletic programs? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5g
 
No
h
Other extracurricular activities? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
5h
 
No
If you answered "Yes" to any of the above, please explain. If you need more space, use Part II.
 
6a
Does the organization receive any financial aid or assistance from a governmental agency? . . . . . . . . . .
6a
Yes
 
b
Has the organization's right to such aid ever been revoked or suspended? . . . . . . . . . . . . . . . .
6b
 
No
If you answered "Yes" to either line 6a or line 6b, explain in Part II.
7
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. . . . . . . . . . . . . . . . . . . . . . . . . .
7
Yes
 
Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50085D
Schedule E (Form 990) (Rev. 1-2025)
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 PEPPERDINE UNIVERSITY DISPLAYS A NOTICE OF ITS RACIALLY NONDISCRIMINATORY POLICY ON ITS PRIMARY, PUBLICLY ACCESSIBLE INTERNET HOMEPAGE AT ALL TIMES IN ACCORDANCE WITH REV. PROC. 2019-22.
SCHEDULE E, PART I, LINE 6 PEPPERDINE UNIVERSITY IS AWARDED GRANTS FROM GOVERNMENT AGENCIES TO PROVIDE FINANCIAL AID TO STUDENTS. THESE GOVERNMENT AGENCIES INCLUDE, BUT ARE NOT LIMITED TO, THE U.S. DEPARTMENT OF EDUCATION, THE CALIFORNIA STUDENT AID COMMISSION, AND THE CORPORATION FOR NATIONAL AND COMMUNITY SERVICE.
Schedule E (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  
SCHEDULE F(Form 990)
(Rev. January 2025)
Department of the Treasury
Internal Revenue Service
Statement of Activities Outside the United States
Right arrow 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
PEPPERDINE UNIVERSITY
 
Employer identification number

95-1644037
Part I
General Information on Activities Outside the United States. Complete if the organization answered "Yes" on Form 990, Part IV, line 14b.
1
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? . . . . . . . . . . . . . . . . . . . . . . . . .
2
For grantmakers. Describe in Part V the organization’s procedures for monitoring the use of its grants and other assistance outside the United States.
3
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 0 0 INVESTMENTS   288,461,572
EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 INVESTMENTS   31,959,727
EUROPE (INCLUDING ICELAND AND GREENLAND) 4 139 PROGRAM SERVICES EDUCATIONAL PROGRAMS 19,397,159
SOUTH AMERICA 1 19 PROGRAM SERVICES EDUCATIONAL PROGRAMS 2,640,560
EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES EDUCATIONAL PROGRAMS 322,885
SUB-SAHARAN AFRICA 0 43 PROGRAM SERVICES EDUCATIONAL PROGRAMS 744,039
EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 GRANTMAKING SCHOLARSHIPS / FINANCIAL ASSISTANCE 7,310,469
SOUTH AMERICA 0 0 GRANTMAKING SCHOLARSHIPS / FINANCIAL ASSISTANCE 872,849
EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING SCHOLARSHIPS / FINANCIAL ASSISTANCE 346,785
SUB-SAHARAN AFRICA 0 0 GRANTMAKING SCHOLARSHIPS / FINANCIAL ASSISTANCE 201,849
           
           
           
           
           
           
           
3a Sub-total .... 5 201 351,709,260
b Total from continuation sheets to Part I ... 0 0 548,634
c Totals (add lines 3a and 3b) 5 201 352,257,894
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.
1 (a) Name of organization (b) IRS code section
and EIN (if applicable)		 (c) Region (d) Purpose of
grant 		(e) Amount of
cash grant 		(f) Manner of
cash
disbursement 		(g) Amount
of noncash
assistance 		(h) Description
of noncash
assistance 		(i) Method of
valuation
(book, FMV,
appraisal, other)
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
             
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 .......MediumBullet
 
3 Enter total number of other organizations or entities .......................MediumBullet
 
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.
(a) Type of grant or assistance (b) Region (c) Number of recipients (d) Amount of
cash grant 		(e) Manner of cash
disbursement 		(f) Amount of
noncash
assistance 		(g) Description
of noncash
assistance 		(h) Method of
valuation
(book, FMV,
appraisal, other)
SCHOLARSHIPS / FINANCIAL ASSISTANCE EUROPE (INCLUDING ICELAND AND GREENLAND) 429 7,310,469 STUDENT ACCOUNT   N/A N/A
SCHOLARSHIPS / FINANCIAL ASSISTANCE SOUTH AMERICA 49 872,849 STUDENT ACCOUNT   N/A N/A
SCHOLARSHIPS / FINANCIAL ASSISTANCE EAST ASIA AND THE PACIFIC 48 346,785 STUDENT ACCOUNT   N/A N/A
SCHOLARSHIPS / FINANCIAL ASSISTANCE SUB-SAHARAN AFRICA 28 201,849 STUDENT ACCOUNT   N/A N/A
               
               
               
               
               
               
               
               
               
               
               
               
               
               
Schedule F (Form 990) (Rev. 1-2025)
Schedule F (Form 990) (Rev. 1-2025)
Page 4
Part IV
Foreign Forms
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). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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). . . . . . . . . . . . . . . . . . . . . . . .
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). . . . . . . . . . . . . . . . . . . . . . . . . . . .
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) .
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). . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
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).. . . . . . . . . . . . . . . . . . . . . . . . . . . .
Schedule F (Form 990) (Rev. 1-2025)
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: MONITORING OF FUNDS: PEPPERDINE UNIVERSITY MAINTAINS AN OFFICE OF RESEARCH, GRANTS, AND FOUNDATION RELATIONS THAT OVERSEES THE ADMINISTRATION OF ALL GRANTS, DOMESTIC AND INTERNATIONAL, TO ENSURE COMPLIANCE WITH GRANT REQUIREMENTS, AS WELL AS LAWS AND REGULATIONS. FURTHER OVERSIGHT IS PROVIDED BY THE UNIVERSITY'S FINANCE OFFICE.
PART I, LINE 3(F): ACCOUNTING BASIS: EXPENDITURES IN COLUMN (F) ARE THE REGIONAL EXPENDITURES INCURRED BY THE UNIVERSITY IN U.S. DOLLARS AND BASED ON THE ACCRUAL BASIS OF ACCOUNTING.
PART III, COL (C): NUMBER OF RECIPIENTS: THE NUMBER OF RECIPIENTS REPORTED IN COLUMN (C) IS DETERMINED BY REVIEWING THE ACTUAL NUMBER OF STUDENTS THAT RECEIVED AID FOR THE RESPECTIVE REGION.
PART III, COL (D): ACCOUNTING BASIS: EXPENDITURES REPORTED IN COLUMN (D) ARE IN U.S. DOLLARS USING THE ACCRUAL BASIS OF ACCOUNTING.
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
   
Schedule F (Form 990) (Rev. 1-2025)
Additional Data


Software ID:  
Software Version:  



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 arrowAttach to Form 990 or Form 990-EZ.
right arrowGo to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
Open to Public Inspection
Name of the organization
PEPPERDINE UNIVERSITY
 
Employer identification number

95-1644037
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.
1
Indicate whether the organization raised funds through any of the following activities. Check all that apply.
a e
b f
c g
d
2a
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?
b
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
 
EVERTRUE
PO BOX 844787
 
BOSTON, MA02284 		SOFTWARE & PROFESSIONAL SERVICE   No 0 186,291 0
 
MARTS & LUNDY
1200 WALL STREET W
 
LYNDHURST, NJ07071 		PROFESSIONAL FUNDRAISING SERVICES   No 0 178,834 0
 
JAMES MICHAEL LANGLEY
8300 WISCONSIN AVE APT 302
 
BETHESDA, MD20814 		CONSULTANT   No 0 43,200 0
 
DOUGLAS CORBIN
44 DORNOCH WAY
 
TRABUCO CANYON, CA92679 		CONSULTANT   No 0 39,200 0
 
25 GIVING
3711 MOPAC EXPY STE 150
 
AUSTIN, TX78746 		PROFESSIONAL FUNDRAISING SERVICES   No 0 8,000 0
 
KDD PHILANTHROPY INC
11324 SHOREPOINTE COURT
 
SAN DIEGO, CA92310 		CONSULTANT   No 0 6,578 0
 
COMMUNICATIONS CENTER LLC (JIMMY DUNNE)
14020 PANAY WAY STE 123
 
MARINA DEL REY, CA90292 		CONSULTANT   No 0 14,583 0
             
             
             
Total . . . . . . . . . . . . . . . . . . . . right arrow   476,686  
3
List all states in which the organization is registered or licensed to solicit contributions or has been notified it is exempt from registration or licensing.
AL, AK, AR, CA, CO, CT, DC, HI, KY, MD, MA, MI, MO, NV, NH, NC, OH, OR, PA, SC, UT, VA, WA, WV
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 50083H
Schedule G (Form 990) (Rev. 1-2025)
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.




VerticalRevenue
(a) Event #1

GOLF TOURNAMENT
(event type) 		(b) Event #2

LAW DINNER
(event type) 		(c) Other events

3
(total number) 		(d) Total events
(add col. (a) through col. (c))

1
Gross receipts . . . . .
566,731
335,921
421,467
1,324,119

2
Less: Contributions . . . .
303,321
191,071
237,340
731,732
3 Gross income (line 1 minus
line 2) . . . . . .
263,410
144,850
184,127
592,387



VerticalDirectExpenses
4 Cash prizes . . . . .        
5 Noncash prizes . . . .        
6 Rent/facility costs . . . .        
7 Food and beverages . . . 3,183 260,744 118,040 381,967
8 Entertainment . . . .   3,000   3,000
9 Other direct expenses . . . 306,615 87,802 155,920 550,337
10 Direct expense summary. Add lines 4 through 9 in column (d) . . . . . . . . . . right arrow 935,304
11 Net income summary. Subtract line 10 from line 3, column (d). . . . . . . . . . right arrow -342,917
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.
VerticalRevenue
(a) Bingo (b) Pull tabs/Instant
bingo/progressive bingo 		(c) Other gaming (d) Total gaming (add col.(a) through col.(c))

1
Gross revenue . . . . .
 
 
 
 
VerticalDirectExpenses

2
Cash prizes . . . . .
 
 
 
 

3
Noncash prizes . . . .
 
 
 
 

4
Rent/facility costs . . . .
 
 
 
 

5
Other direct expenses . . .
 
 
 
 


6

Volunteer labor . . . .
%
%
%


7
Direct expense summary. Add lines 2 through 5 in column (d) . . . . . . . . . . right arrow
 

8
Net gaming income summary. Subtract line 7 from line 1, column (d). . . . . . . . . right arrow
 

9
Enter the state(s) in which the organization conducts gaming activities:
a
Is the organization licensed to conduct gaming activities in each of these states? . . . . . . . .
YesNo
b
If "No," explain:
 
10a
Were any of the organization's gaming licenses revoked, suspended or terminated during the tax year? . . .
YesNo
b
If "Yes," explain:
 
Schedule G (Form 990) (Rev. 1-2025)
Schedule G (Form 990) (Rev. 1-2025)
Page 3
11
Does the organization conduct gaming activities with nonmembers? . . . . . . . . . . .
YesNo
12
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
13
Indicate the percentage of gaming activity conducted in:
a
The organization's facility . . . . . . . . . . . . . . . . . .
13a
%
b
An outside facility . . . . . . . . . . . . . . . . . . . .
13b
%
14
Enter the name and address of the person who prepares the organization's gaming/special events books and records:
Name right arrow
Address right arrow
15a
Does the organization have a contract with a third party from whom the organization receives gaming
revenue? . . . . . . . . . . . . . . . . . . . . . . . .
b
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 $   .
c
If "Yes," enter name and address of the third party:
Name right arrow
Address right arrow
16
Gaming manager information:
Name right arrow
Gaming manager compensation right arrow $  
Description of services provided right arrow
 
17
Mandatory distributions:
a
Is the organization required under state law to make charitable distributions from the gaming proceeds to
retain the state gaming license? . . . . . . . . . . . . . . . . . . .
b
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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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
PEPPERDINE UNIVERSITY
 
Employer identification number
95-1644037
Part I
General Information on Grants and Assistance
1
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? ........................
2
Describe in Part IV the organization's procedures for monitoring the use of grant funds in the United States.
Part II
Grants and Other Assistance to Domestic Organizations and Domestic Governments. Complete if the organization answered "Yes" on Form 990, Part IV, line 21, for any recipient
that received more than $5,000. Part II can be duplicated if additional space is needed.
(a) Name and address of organization
or government		 (b) EIN (c) IRC section
(if applicable)		 (d) Amount of cash grant (e) Amount of non-cash
assistance		 (f) Method of valuation
(book, FMV, appraisal,
other)		 (g) Description of
noncash assistance		 (h) Purpose of grant
or assistance
(1) FOREVER FOUND
1070 COUNTRY CLUB DRIVE SUITE F
SIMI VALLEY,CA93065 		27-2568005 501(C)(3) 6,250 0 N/A N/A GENERAL SUPPORT
2
Enter total number of section 501(c)(3) and government organizations listed in the line 1 table ................. Bullet Image
1
3
Enter total number of other organizations listed in the line 1 table ........................ . Bullet Image
0
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50055P
Schedule I (Form 990) Rev. 1-2025

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) SCHOLARSHIPS / FINANCIAL AID PAID 6139 141,630,402   N/A N/A
(1)
(2)
(3)
(4)
(5)
(6)
(7)
Part IV
Supplemental Information. Provide the information required in Part I, line 2; Part III, column (b); and any other additional information.
Return Reference Explanation
PART I, LINE 2: MONITORING USE OF FUNDS: GRANTS ARE PROVIDED ON THE BASIS OF VERIFIED FINANCIAL NEED OR MERIT. THE UNIVERSITY DOES NOT UNLAWFULLY DISCRIMINATE ON THE BASIS OF RACE, COLOR, NATIONAL OR ETHNIC ORIGIN, RELIGION, AGE, SEX, DISABILITY, OR PRIOR MILITARY SERVICE. FINANCIAL ASSISTANCE IS MONITORED SO THAT IT IS IN COMPLIANCE WITH AWARDING TERMS AND CONDITIONS. EXPENDITURES ARE REVIEWED FOR PERMISSIBILITY AND COMPLIANCE. STUDENTS ARE REQUIRED TO SUBMIT APPROPRIATE DOCUMENTS PRIOR TO APPROVAL.
PART III, LINE (B) NUMBER OF RECIPIENTS: CASH GRANTS ARE CREDITS TO STUDENT ACCOUNTS. THE NUMBER OF RECIPIENTS REPRESENTS ONLY THE NUMBER OF STUDENTS RECEIVING INSTITUTIONAL FUNDING AND FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS. OUTSIDE GRANTS, OR APPLICATIONS OF FUNDS PROVIDED BY OUTSIDE ORGANIZATIONS, ARE NOT INCLUDED.
Schedule I (Form 990) Rev. 1-2025



Additional Data


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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
PEPPERDINE UNIVERSITY
 
Employer identification number

95-1644037
Part I
Questions Regarding Compensation
Yes
No
1a
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.
b
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 .....
1b
Yes
 
2
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? ....
2
Yes
 
3
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.
4
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:
a
Receive a severance payment or change-of-control payment? .............
4a
 
No
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........
4b
 
No
c
Participate in, or receive payment from, an equity-based compensation arrangement? .........
4c
 
No
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.
5
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:
a
The organization? ....................
5a
 
No
b
Any related organization? .......................
5b
 
No
If "Yes," on line 5a or 5b, describe in Part III.
6
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:
a
The organization? ..................
6a
 
No
b
Any related organization? ......................
6b
 
No
If "Yes," on line 6a or 6b, describe in Part III.
7
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 ............
7
Yes
 
8
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 ..........................
8
 
No
9
If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................
9
 
 
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) (Rev. 1-2025)

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
(i) Base
compensation 		(ii) Bonus & incentive
compensation 		(iii) Other reportable compensation
1JAMES GASH
PRESIDENT & CEO 		(i)

(ii)		 562,795
-------------
0 		350,000
-------------
0 		5,020
-------------
0 		34,500
-------------
0 		370,690
-------------
0 		1,323,005
-------------
0 		0
-------------
0
2JAY BREWSTER
PROVOST & CHIEF ACADEMIC OFFICER 		(i)

(ii)		 395,345
-------------
0 		74,000
-------------
0 		3,849
-------------
0 		27,521
-------------
0 		354,820
-------------
0 		855,535
-------------
0 		0
-------------
0
3PHIL PHILLIPS
EXEC. VICE PRESIDENT 		(i)

(ii)		 325,410
-------------
0 		90,000
-------------
0 		24,845
-------------
0 		65,000
-------------
0 		211,727
-------------
0 		716,982
-------------
0 		0
-------------
0
4EDMUND SCHILLING
HEAD COACH, BASKETBALL 		(i)

(ii)		 474,464
-------------
0 		25,000
-------------
0 		58,805
-------------
0 		0
-------------
0 		21,022
-------------
0 		579,291
-------------
0 		0
-------------
0
5PAUL CARON
DEAN, CARUSO SCHOOL OF LAW 		(i)

(ii)		 254,699
-------------
0 		68,000
-------------
0 		30,410
-------------
0 		88,000
-------------
0 		133,378
-------------
0 		574,487
-------------
0 		0
-------------
0
6SARA YOUNG JACKSON
CHANCELLOR 		(i)

(ii)		 360,031
-------------
0 		74,000
-------------
0 		64,174
-------------
0 		30,213
-------------
0 		31,647
-------------
0 		560,065
-------------
0 		0
-------------
0
7KIRON SKINNER
PROFESSOR, SCHOOL OF PUBLIC POLICY 		(i)

(ii)		 298,000
-------------
0 		0
-------------
0 		180,467
-------------
0 		29,101
-------------
0 		19,795
-------------
0 		527,363
-------------
0 		0
-------------
0
8JEFFREY ROHDE
CHIEF INVESTMENT OFFICER 		(i)

(ii)		 375,718
-------------
0 		71,000
-------------
0 		810
-------------
0 		34,500
-------------
0 		42,385
-------------
0 		524,413
-------------
0 		0
-------------
0
9MICHAEL FELTNER
DEAN OF COLLEGE OF HEALTH SCIENCE 		(i)

(ii)		 330,561
-------------
0 		65,000
-------------
0 		9,688
-------------
0 		34,592
-------------
0 		49,437
-------------
0 		489,278
-------------
0 		0
-------------
0
10SARA COSENTINO
VP FOR ADV & CHIEF DEV OFFICER 		(i)

(ii)		 332,360
-------------
0 		65,000
-------------
0 		1,850
-------------
0 		32,538
-------------
0 		49,241
-------------
0 		480,989
-------------
0 		0
-------------
0
11LORENZO ROMAR
HEAD COACH, BASKETBALL 		(i)

(ii)		 196,707
-------------
0 		0
-------------
0 		264,895
-------------
0 		7,922
-------------
0 		9,762
-------------
0 		479,286
-------------
0 		0
-------------
0
12DEBORAH CROWN
DEAN OF PGBS 		(i)

(ii)		 350,773
-------------
0 		54,000
-------------
0 		5,306
-------------
0 		22,167
-------------
0 		33,585
-------------
0 		465,831
-------------
0 		0
-------------
0
13GREG RAMIREZ
CHIEF FINANCIAL OFFICER 		(i)

(ii)		 357,347
-------------
0 		69,000
-------------
0 		930
-------------
0 		34,500
-------------
0 		2,461
-------------
0 		464,238
-------------
0 		0
-------------
0
14NICOLLE TAYLOR
SENIOR VP, COO 		(i)

(ii)		 340,492
-------------
0 		68,000
-------------
0 		1,141
-------------
0 		34,481
-------------
0 		16,980
-------------
0 		461,094
-------------
0 		0
-------------
0
15DAMON SEAN BURNETT
SVP, INTEGRATED MARKETING & CMO 		(i)

(ii)		 225,651
-------------
0 		58,000
-------------
0 		19,144
-------------
0 		43,555
-------------
0 		113,661
-------------
0 		460,011
-------------
0 		0
-------------
0
16DANIEL DEWALT
VP & CHIEF OF STAFF 		(i)

(ii)		 323,877
-------------
0 		61,000
-------------
0 		4,871
-------------
0 		33,471
-------------
0 		34,950
-------------
0 		458,169
-------------
0 		0
-------------
0
17LARRY PERRIN
SVP STRATEGIC IMPLEMENTATION 		(i)

(ii)		 339,208
-------------
0 		56,000
-------------
0 		5,061
-------------
0 		34,500
-------------
0 		19,506
-------------
0 		454,275
-------------
0 		0
-------------
0
18LEE KATS
DEAN, SEAVER FROM 3/25 		(i)

(ii)		 305,921
-------------
0 		55,000
-------------
0 		48,196
-------------
0 		30,794
-------------
0 		12,465
-------------
0 		452,376
-------------
0 		0
-------------
0
19FARZIN MADJIDI
DEAN, GSEP 		(i)

(ii)		 159,309
-------------
0 		48,000
-------------
0 		51,460
-------------
0 		77,340
-------------
0 		87,879
-------------
0 		423,988
-------------
0 		0
-------------
0
20TIMOTHY SPIVEY
VP SPIRITUAL LIFE 		(i)

(ii)		 108,874
-------------
0 		30,000
-------------
0 		28,579
-------------
0 		27,940
-------------
0 		216,885
-------------
0 		412,278
-------------
0 		0
-------------
0
21EDWARD LARSON
DARLING CHAIR IN LAW & PROF 		(i)

(ii)		 297,010
-------------
0 		5,000
-------------
0 		56,405
-------------
0 		30,141
-------------
0 		23,193
-------------
0 		411,749
-------------
0 		0
-------------
0
22DAVID SMITH
SENIOR ASSOCIATE PROVOST & PROFESSOR 		(i)

(ii)		 306,421
-------------
0 		0
-------------
0 		40,154
-------------
0 		30,985
-------------
0 		5,256
-------------
0 		382,816
-------------
0 		0
-------------
0
23CONNIE HORTON
VP STUDENT AFFAIRS, VC RISE 		(i)

(ii)		 153,325
-------------
0 		31,000
-------------
0 		20,531
-------------
0 		65,379
-------------
0 		96,539
-------------
0 		366,774
-------------
0 		0
-------------
0
24SHARON BEARD
INTERIM VP STUDENT AFFAIRS FROM 7/25 		(i)

(ii)		 166,320
-------------
0 		0
-------------
0 		843
-------------
0 		15,227
-------------
0 		148,997
-------------
0 		331,387
-------------
0 		0
-------------
0
25JERI-ELAYNE GOOSBY SMITH
VP COMM BELONGING & CDO 		(i)

(ii)		 239,019
-------------
0 		39,000
-------------
0 		14,636
-------------
0 		14,001
-------------
0 		23,839
-------------
0 		330,495
-------------
0 		0
-------------
0
26MICHAEL NICKS
DIRECTOR OF INVESTMENTS 		(i)

(ii)		 247,715
-------------
0 		0
-------------
0 		2,436
-------------
0 		26,402
-------------
0 		49,187
-------------
0 		325,740
-------------
0 		0
-------------
0
27JONATHAN SEE
CHIEF INFORMATION OFFICER 		(i)

(ii)		 246,801
-------------
0 		0
-------------
0 		2,420
-------------
0 		26,210
-------------
0 		48,480
-------------
0 		323,911
-------------
0 		0
-------------
0
28LILA MCDOWELL CARLSEN
VICE PROVOST FROM 3/25 & PROFESSOR 		(i)

(ii)		 225,249
-------------
0 		25,000
-------------
0 		526
-------------
0 		27,544
-------------
0 		32,643
-------------
0 		310,962
-------------
0 		0
-------------
0
29MICHAEL THOMAS
VP, INTEGRATED MARKETING 		(i)

(ii)		 249,857
-------------
0 		0
-------------
0 		692
-------------
0 		25,582
-------------
0 		32,412
-------------
0 		308,543
-------------
0 		0
-------------
0
30BEN VEENENDAAL
VP PLANNING, OPS & CONSTRUCTION 		(i)

(ii)		 231,334
-------------
0 		7,000
-------------
0 		814
-------------
0 		18,885
-------------
0 		44,390
-------------
0 		302,423
-------------
0 		0
-------------
0
31FAYE HOLTON
DIRECTOR OF INVESTMENTS 		(i)

(ii)		 244,969
-------------
0 		0
-------------
0 		3,556
-------------
0 		25,239
-------------
0 		19,466
-------------
0 		293,230
-------------
0 		0
-------------
0
32GARY HANSON
SENIOR EVP THRU 7/24 		(i)

(ii)		 225,043
-------------
0 		0
-------------
0 		12,315
-------------
0 		22,770
-------------
0 		16,673
-------------
0 		276,801
-------------
0 		0
-------------
0
33KATELYN CROWE
CONTROLLER THRU 6/25 		(i)

(ii)		 223,860
-------------
0 		3,000
-------------
0 		418
-------------
0 		22,135
-------------
0 		1,829
-------------
0 		251,242
-------------
0 		0
-------------
0
34RICK GIBSON
SV CHANCELLOR THRU 7/24 		(i)

(ii)		 89,215
-------------
0 		0
-------------
0 		30,090
-------------
0 		33,073
-------------
0 		45,252
-------------
0 		197,630
-------------
0 		0
-------------
0
Schedule J (Form 990) (Rev. 1-2025)

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 FIRST CLASS TRAVEL: PURSUANT TO A WRITTEN POLICY AND APPROPRIATE APPROVAL, FIRST CLASS TRAVEL IS PERMITTED FOR CERTAIN OFFICERS AND EMPLOYEES FOR BUSINESS PURPOSES. TRAVEL FOR BUSINESS PURPOSES IS NOT INCLUDED IN TAXABLE WAGES. SEVEN OFFICERS AND TWO KEY EMPLOYEES LISTED ON FORM 990, PART VII FLEW FIRST CLASS FOR BUSINESS PURPOSES DURING CALENDAR YEAR 2024. TRAVEL FOR COMPANIONS: PURSUANT TO A WRITTEN POLICY AND APPROPRIATE APPROVAL, CERTAIN OFFICERS AND EMPLOYEES' SPOUSES ARE PERMITTED TO TRAVEL ON OCCASION, WHEN NECESSARY FOR BUSINESS PURPOSES. TRAVEL FOR BUSINESS PURPOSES IS NOT INCLUDED IN TAXABLE WAGES. FIVE OFFICERS AND TWO KEY EMPLOYEES LISTED ON FORM 990, PART VII WERE PROVIDED WITH COMPANION TRAVEL FOR BUSINESS PURPOSES DURING CALENDAR YEAR 2024. TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: THE UNIVERSITY PROVIDES TAX INDEMNIFICATION AND GROSS-UP PAYMENTS TO EMPLOYEES THAT PROVIDE LATE SUBSTANTIATION OF EXPENSES UNDER ACCOUNTABLE PLAN RULES FOR ORDINARY AND NECESSARY BUSINESS EXPENSES. IN SOME CASES, TAX INDEMNIFICATION OR GROSS-UP PAYMENTS ARE ALSO PROVIDED FOR THE REIMBURSEMENT OF CERTAIN TAXABLE MOVING EXPENSES. ADDITIONALLY, AS PART OF THE MINISTERIAL HOUSING PROGRAM, THE UNIVERSITY ALSO PROVIDES ADDITIONAL COMPENSATION TO PARTICIPANTS FOR WAGE WITHHOLDING, IN AN AMOUNT EQUAL TO THE EMPLOYER'S SHARE OF THE PARTICIPANTS' SELF-EMPLOYMENT TAX. SIX OFFICERS, ONE FORMER OFFICER, ONE KEY EMPLOYEE, ONE FORMER KEY EMPLOYEE AND TWO HIGHEST PAID INDIVIDUALS LISTED ON FORM 990, PART VII WERE PROVIDED WITH TAX INDEMNIFICATION OR GROSS-UP PAYMENTS DURING CALENDAR YEAR 2024. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: SUBJECT TO EXECUTIVE APPROVAL, THE UNIVERSITY PROVIDES A MINISTERIAL HOUSING ALLOWANCE TO EMPLOYEES WHO ARE MINISTERS. THE ALLOWANCE IS INCLUDED IN THE NONTAXABLE BENEFITS OF SUCH EMPLOYEES. FOUR OFFICERS, ONE KEY EMPLOYEE, ONE FORMER OFFICER, AND ONE FORMER KEY EMPLOYEE LISTED ON FORM 990, PART VII WERE PROVIDED A MINISTERIAL HOUSING ALLOWANCE DURING CALENDAR YEAR 2024. ADDITIONALLY, ON-CAMPUS HOUSING PROVIDED AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE EMPLOYER IS NOT INCLUDED IN TAXABLE WAGES. TWO OFFICERS LISTED ON FORM 990, PART VII WERE PROVIDED ON-CAMPUS HOUSING AS A CONDITION OF EMPLOYMENT AND FOR THE CONVENIENCE OF THE EMPLOYER DURING CALENDAR YEAR 2024. HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES: EXPENDITURES FOR BUSINESS PURPOSES ARE APPROVED PURSUANT TO THE UNIVERSITY'S REIMBURSEMENT POLICIES. SUCH REIMBURSEMENTS ARE NOT INCLUDED IN TAXABLE WAGES. FIVE OFFICERS, THREE KEY EMPLOYEES, TWO HIGHEST PAID EMPLOYEES, AND TWO FORMER KEY EMPLOYEES LISTED ON FORM 990, PART VII RECEIVED REIMBURSEMENTS FOR EXPENDITURES ASSOCIATED WITH HEALTH OR SOCIAL CLUB MEMBERSHIPS USED FOR BUSINESS PURPOSES DURING CALENDAR YEAR 2024. PERSONAL SERVICES: EXPENDITURES FOR BUSINESS PURPOSES ARE APPROVED PURSUANT TO THE UNIVERSITY'S REIMBURSEMENT POLICIES. SUCH REIMBURSEMENTS ARE NOT INCLUDED IN TAXABLE WAGES. FIVE OFFICERS, ONE HIGHEST PAID EMPLOYEE, ONE KEY EMPLOYEE, AND ONE FORMER KEY EMPLOYEE WERE PROVIDED CAR SERVICES FOR BUSINESS RELATED TRANSPORTATION DURING CALENDAR YEAR 2024. ONE OFFICER WAS PROVIDED LAUNDRY SERVICES IN CONNECTION WITH BUSINESS RELATED TRAVEL AND ONE OFFICER WAS PROVIDED CLEANING SERVICES IN CONNECTION WITH UNIVERSITY EVENTS DURING CALENDAR YEAR 2024.
PART I, LINE 7 NONFIXED PAYMENTS: THE BOARD OF REGENTS, IN ITS DISCRETION, PROVIDES OBJECTIVES AND KEY RESULTS, AND POTENTIAL MAXIMUM BONUS AMOUNTS FOR THE PRESIDENT EACH YEAR. SIMILARLY, THE PRESIDENT, IN HIS DISCRETION, PROVIDES OBJECTIVES AND KEY RESULTS, AND POTENTIAL BONUSES FOR SELECT SENIOR ADMINISTRATORS EACH YEAR. THE BOARD OF REGENTS DEFINES THE MAXIMUM CUMULATIVE BONUS AMOUNT AVAILABLE FOR BONUS PLAN PARTICIPANTS EACH YEAR. OBJECTIVES AND KEY RESULTS FOR BOTH THE PRESIDENT AND SELECT SENIOR ADMINISTRATORS MAY SPAN ACROSS MULTIPLE YEARS. THE BOARD OF REGENTS ANNUALLY ASSESSES THE PRESIDENT'S PROGRESS TOWARD ACHIEVING OBJECTIVES AND KEY RESULTS, BOTH INDIVIDUALLY AND COLLECTIVELY, AND BASED UPON ITS SOLE ASSESSMENT, MAY AWARD A BONUS UP TO THE MAXIMUM POTENTIAL AMOUNT ESTABLISHED FOR A PARTICULAR OBJECTIVE AND KEY RESULT. SIMILARLY, THE PRESIDENT ANNUALLY ASSESSES SELECT SENIOR ADMINISTRATORS' PROGRESS TOWARD ACHIEVING OBJECTIVES AND KEY RESULTS, BOTH INDIVIDUALLY AND COLLECTIVELY, AND MAY AWARD A BONUS UP TO THE MAXIMUM AMOUNT ESTABLISHED FOR A PARTICULAR OBJECTIVE AND KEY RESULT. ADDITIONALLY, THE AUDIT AND GOVERNANCE COMMITTEE ON ITS OWN INITIATIVE, OR AT THE REQUEST OF THE PRESIDENT, MAY AT ITS SOLE DISCRETION, CONDUCT AN INTERIM ASSESSMENT OF ANY PARTICULAR OBJECTIVE AND KEY RESULT. BASED ON ITS ASSESSMENT, THE AUDIT AND GOVERNANCE COMMITTEE MAY RECOMMEND TO THE BOARD OF REGENTS ANY ACTION THAT MAY BE APPROPRIATE, INCLUDING FOR EXAMPLE, THAT A BONUS BE IMMEDIATELY AWARDED. LIKEWISE, THE PRESIDENT, MAY AT HIS SOLE DISCRETION, CONDUCT AN INTERIM ASSESSMENT OF ANY PARTICULAR OBJECTIVE AND KEY RESULT AND TAKE ANY ACTION THAT MAY BE APPROPRIATE, INCLUDING FOR EXAMPLE, THAT A BONUS BE IMMEDIATELY AWARDED TO SELECT SENIOR ADMINISTRATORS. THE AUDIT AND GOVERNANCE COMMITTEE IS ANNUALLY APPRISED OF THE PRESIDENT'S RATIONALE AND AWARDS OF BONUSES TO SELECT SENIOR ADMINISTRATORS.
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
PEPPERDINE UNIVERSITY
 
Employer identification number
95-1644037
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
Yes No Yes No Yes No
A CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY
  		52-1705592 130179AX2 09-03-2015 87,786,387 REFUND 2005A & 2005B BONDS X     X   X
B CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY
  		52-1705592 130179FV1 03-17-2016 117,753,105 REFUND 2010 BONDS, CONSTRUCTION & FACILITIES X     X   X
C CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY
  		52-1705592 130179LU6 12-21-2017 24,514,680 REFUND 2012 BONDS   X   X   X
Part Ⅱ
Proceeds
A B C D
1 Amount of bonds retired .................. 12,825,000 7,035,000 5,120,000  
2 Amount of bonds legally defeased .............. 59,975,000 88,690,000    
3 Total proceeds of issue .................. 87,786,387 117,753,105 24,514,680  
4 Gross proceeds in reserve funds .............        
5 Capitalized interest from proceeds .............        
6 Proceeds in refunding escrows ...............        
7 Issuance costs from proceeds ............... 717,742 868,673 298,224  
8 Credit enhancement from proceeds .............        
9 Working capital expenditures from proceeds .............        
10 Capital expenditures from proceeds .............   99,395,549    
11 Other spent proceeds ............. 87,068,645 17,488,883 24,728,000  
12 Other unspent proceeds .............        
13 Year of substantial completion ............. 2015 2016 2017
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    
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      
16 Has the final allocation of proceeds been made? .......... X   X   X      
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? .................. X   X   X      
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) (Rev. 1-2025)

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    
2 Are there any lease arrangements that may result in private business use of bond-financed property? ...............   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    
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property?                
c Are there any research agreements that may result in private business use of bond-financed property? .............   X   X   X    
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property?                
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 ....        
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 ......... 0.020 % 0.170 % 0.740 %  
6 Total of lines 4 and 5 ............. 0.020 % 0.170 % 0.740 %  
7 Does the bond issue meet the private security or payment test? ...   X   X   X    
8a Has there been a sale or disposition of any of the bond-financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?.............   X   X   X    
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of. ..        
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? .............                
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under
Regulations sections 1.141-12 and 1.145-2? ........ 		X   X   X      
Part Ⅳ
Arbitrage
A B C D
Yes No Yes No Yes No Yes No
1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? ...   X   X   X    
2 If "No" to line 1, did the following apply? ....
a Rebate not due yet? .......   X   X   X    
b Exception to rebate? ........ X     X X      
c No rebate due? .........   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    
Schedule K (Form 990) (Rev. 1-2025)

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    
b Name of provider ..........  
  		 
  		 
  		 
 
c Term of hedge .........        
d Was the hedge superintegrated? ......                
e Was the hedge terminated? ........                
5a Were gross proceeds invested in a guaranteed investment contract (GIC)?   X   X   X    
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    
7 Has the organization established written procedures to monitor the requirements of section 148? ... 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      
Part Ⅵ
Supplemental Information. Provide additional information for responses to questions on Schedule K. (See instructions).
Return Reference Explanation
DATE REBATE COMPUTATION PERFORMED ISSUER NAME: CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY DATE THE REBATE COMPUTATION WAS PERFORMED: 03/17/2025
SCHEDULE K, PART I: LINE A, COLUMN (F) - DESCRIPTION OF PURPOSE: REFUND 2005A AND 2005B BONDS ORIGINALLY ISSUED ON 08/03/2005 AND 09/06/2005, RESPECTIVELY. LINE B, COLUMN (F) - DESCRIPTION OF PURPOSE: REFUND 2010 BONDS ORIGINALLY ISSUED ON 04/28/10, CONSTRUCTION AND FACILITIES. LINE C, COLUMN (F) - DESCRIPTION OF PURPOSE: REFUND 2012 BONDS ORIGINALLY ISSUED ON 06/05/2012. SCHEDULE K, PART IV, LINE 2C, COLUMN (B) DATE REBATE COMPUTATION WAS PERFORMED: 03/17/2025
Schedule K (Form 990) (Rev. 1-2025)

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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
PEPPERDINE UNIVERSITY
 
Employer identification number

95-1644037
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 (b) Relationship between disqualified person and organization (c) Description of transaction (d) Corrected?
Yes No
2
Enter the amount of tax incurred by the organization managers or disqualified persons during the year under section 4958. ........................... $
 
3
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?
To From Yes No Yes No Yes No
(1) MICHAEL NICKS
  		KEY EMPLOYEE RELOCATION   X 320,000 353,556   No   No Yes  
(2) JEFFREY ROHDE
  		KEY EMPLOYEE RELOCATION   X 350,000 375,123   No   No Yes  
(3) LARRY PERRIN
  		OFFICER RELOCATION   X 100,000 105,970   No   No Yes  
(4) DANIEL DEWALT
  		OFFICER RELOCATION   X 100,000 104,249   No   No Yes  
(5) SARA COSENTINO
  		OFFICER RELOCATION   X 100,000 104,247   No   No Yes  
(6) MICHAEL THOMAS
  		OFFICER RELOCATION   X 100,000 103,011   No   No Yes  
(7) DEBORAH CROWN
  		KEY EMPLOYEE RELOCATION   X 150,000 153,941   No   No Yes  
(8) JERI-ELAYNE GOOSBY SMIT
  		OFFICER RELOCATION   X 150,000 150,062   No   No Yes  
(9) LEE KATS
  		KEY EMPLOYEE RELOCATION   X 125,000 125,003   No   No Yes  
(10) LILA MCDOWELL CARLSEN
  		KEY EMPLOYEE RELOCATION   X 100,000 114,039   No   No Yes  
Total ............... $ 1,689,201
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)
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?
Yes No
(1) RONALD PHILLIPS
  		FATHER OF OFFICER 288,855 EMPLOYMENT - COMPENSATION & BENEFITS   No
(2) SHANNON PHILLIPS
  		SISTER-IN-LAW OF OFFICER 235,927 EMPLOYMENT - COMPENSATION & BENEFITS   No
(3) PHILIP CHO
  		SON-IN-LAW OF OFFICER 133,144 EMPLOYMENT - COMPENSATION & BENEFITS   No
(4) AGNES GIBSON
  		SPOUSE OF FORMER OFFICER 127,506 EMPLOYMENT - COMPENSATION & BENEFITS   No
(5) LUCY PERRIN
  		SPOUSE OF OFFICER 72,847 EMPLOYMENT - COMPENSATION & BENEFITS   No
(6) MARK COSENTINO
  		SPOUSE OF OFFICER 134,494 EMPLOYMENT - COMPENSATION & BENEFITS   No
(7) GEORGE CARLSEN
  		SPOUSE OF KEY EMPLOYEE 194,831 EMPLOYMENT - COMPENSATION & BENEFITS   No
(8) KAMERON VEENENDAAL
  		SPOUSE OF OFFICER 63,503 EMPLOYMENT - COMPENSATION & BENEFITS   No
Part V
Supplemental Information
Provide additional information for responses to questions on Schedule L (see instructions).
Return Reference Explanation
Schedule L (Form 990) (Rev. 1-2025)


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SCHEDULE M
(Form 990)

Department of the Treasury
Internal Revenue Service
Noncash Contributions
Right pointing arrow large image 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
PEPPERDINE UNIVERSITY
 
Employer identification number

95-1644037
Part I
Types of Property
(a)
Check if applicable 		(b)
Number of contributions or items contributed 		(c)
Noncash contribution amounts reported on
Form 990, Part VIII, line 1g 		(d)
Method of determining
noncash contribution amounts
1 Art—Works of art ....        
2 Art—Historical treasures .        
3 Art—Fractional interests ..        
4 Books and publications .. X 1 RETAIL COST
5 Clothing and household
goods ....... 		X 59 RETAIL COST
6 Cars and other vehicles ..        
7 Boats and planes ....        
8 Intellectual property ...        
9 Securities—Publicly traded . X 42 5,906,280 AVG PRICE/DONATE DAY
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 . X 1 279,655 FAIR MARKET VALUE
16 Real estate—Commercial ..        
17 Real estate—Other ...        
18 Collectibles ..... X 1 1 RETAIL COST
19 Food inventory ...        
20 Drugs and medical supplies .        
21 Taxidermy ......        
22 Historical artifacts ....        
23 Scientific specimens ..        
24 Archeological artifacts ...        
25 Other Right pointing arrow large image ( OTHER ) X 57 59,876 RETAIL COST
26 Other Right pointing arrow large image ( )
27 Other Right pointing arrow large image ( )
28 Other Right pointing arrow large image ( )
29
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
29
1
Yes
No
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
 
No
b
If "Yes," describe the arrangement in Part II.
31
Does the organization have a gift acceptance policy that requires the review of any nonstandard contributions?
31
Yes
 
32a
Does the organization hire or use third parties or related organizations to solicit, process, or sell noncash
contributions? ..........................
32a
 
No
b
If "Yes," describe in Part II.
33
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)
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
SCHEDULE M, PART I, COL (B): NUMBER OF CONTRIBUTIONS OR ITEMS CONTRIBUTED: THE UNIVERSITY REPORTS THE NUMBER OF CONTRIBUTIONS RECEIVED, NOT THE INDIVIDUAL NUMBER OF ITEMS INCLUDED IN THOSE CONTRIBUTIONS.
Schedule M (Form 990) (2024)

Additional Data


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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
PEPPERDINE UNIVERSITY
 
Employer identification number

95-1644037
Return Reference Explanation
FORM 990, PART I, LINE 1: ORGANIZATION'S SIGNIFICANT ACTIVITIES: COMMITTED TO THE HIGHEST STANDARDS OF ACADEMIC EXCELLENCE AND CHRISTIAN VALUES, WHERE STUDENTS ARE STRENGTHENED FOR LIVES OF PURPOSE, SERVICE, AND LEADERSHIP. THE UNIVERSITY ENROLLS APPROXIMATELY 9,000 STUDENTS IN ITS SIX COLLEGES AND SCHOOLS. SEAVER COLLEGE, THE UNIVERSITY'S UNDERGRADUATE LIBERAL ARTS COLLEGE, THE CARUSO SCHOOL OF LAW, AND THE SCHOOL OF PUBLIC POLICY ARE HEADQUARTERED ON 830 ACRES IN THE SANTA MONICA MOUNTAINS OVERLOOKING THE PACIFIC OCEAN IN MALIBU, CALIFORNIA. THE PEPPERDINE COLLEGE OF HEALTH SCIENCE IS HEADQUARTERED AT THE UNIVERSITY'S CALABASAS, CALIFORNIA CAMPUS. THE GRADUATE SCHOOL OF EDUCATION AND PSYCHOLOGY AND THE PEPPERDINE GRAZIADIO BUSINESS SCHOOL ARE HEADQUARTERED AT THE UNIVERSITY'S WEST LOS ANGELES, CALIFORNIA GRADUATE CAMPUS.
FORM 990, PART I, LINE 6: NUMBER OF VOLUNTEERS: THERE ARE A NUMBER OF STUDENTS AND ALUMNI THAT VOLUNTEER THEIR TIME FOR VARIOUS PURPOSES AT THE UNIVERSITY. THESE VOLUNTEERS, HOWEVER, ARE NOT FORMALLY TRACKED BY THE UNIVERSITY. ACCORDINGLY, THE NUMBER OF VOLUNTEERS REPRESENTS THE NUMBER OF VOLUNTEER REGENTS ON THE BOARD OF REGENTS AS OF THE END OF THE TAX YEAR.
FORM 990, PART III, LINE 1: ORGANIZATION'S MISSION: THE UNIVERSITY ENROLLS APPROXIMATELY 9,000 STUDENTS IN ITS SIX COLLEGES AND SCHOOLS. SEAVER COLLEGE, THE UNIVERSITY'S UNDERGRADUATE LIBERAL ARTS COLLEGE, THE CARUSO SCHOOL OF LAW, AND THE SCHOOL OF PUBLIC POLICY ARE HEADQUARTERED ON 830 ACRES IN THE SANTA MONICA MOUNTAINS OVERLOOKING THE PACIFIC OCEAN IN MALIBU, CALIFORNIA. THE PEPPERDINE COLLEGE OF HEALTH SCIENCE IS HEADQUARTERED AT THE UNIVERSITY'S CALABASAS, CALIFORNIA CAMPUS. THE GRADUATE SCHOOL OF EDUCATION AND PSYCHOLOGY AND THE PEPPERDINE GRAZIADIO BUSINESS SCHOOL ARE HEADQUARTERED AT THE UNIVERSITY'S WEST LOS ANGELES, CALIFORNIA GRADUATE CAMPUS.
FORM 990, PART V, LINE 2A: NUMBER OF EMPLOYEES: THE NUMBER OF EMPLOYEES INCLUDES STUDENT WORKERS.
FORM 990, PART VI, SECTION A, LINE 1A GOVERNING BODY VOTING MEMBERS: THE BOARD OF REGENTS OF PEPPERDINE UNIVERSITY HAS AN EXECUTIVE COMMITTEE, WHICH MAY ACT FOR AND IN PLACE OF THE BOARD OF REGENTS BETWEEN REGULAR BOARD MEETINGS. ONLY REGENTS CAN BE MEMBERS OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE HAS THE POWER TO TRANSACT BUSINESS ON BEHALF OF THE BOARD OF REGENTS, SUBJECT TO ANY LIMITATIONS IMPOSED BY THE BOARD OF REGENTS, THE BYLAWS, OR APPLICABLE LAW.
FORM 990, PART VI, SECTION A, LINE 2 FAMILY RELATIONSHIP SHARON BEARD AND ALAN BEARD HAVE A FAMILY RELATIONSHIP. ALAN BEARD RESIGNED AS A TRUSTEE ON 5/22/2025. SHARON BEARD BECAME INTERIM VP FOR STUDENT AFFAIRS ON 7/01/2025.
FORM 990, PART VI, SECTION B, LINE 11B PROCESS TO REVIEW FORM 990: INFORMATION IS SUPPLIED BY THE UNIVERSITY TO THE PAID PREPARER TO PREPARE THE RETURN. A DRAFT VERSION OF THE FORM 990 IS PROVIDED TO SENIOR MANAGEMENT AND THE AUDIT COMMITTEE OF THE BOARD OF REGENTS FOR REVIEW. CHANGES AND COMMENTS ARE SUBMITTED TO MANAGEMENT, AND ANY NECESSARY CHANGES ARE MADE PRIOR TO THE FINAL REVIEW AND SIGNING OF THE TAX RETURN. A FULL COPY OF THE FORM 990 IS MADE AVAILABLE TO THE BOARD OF REGENTS PRIOR TO FILING WITH THE IRS.
FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY ENFORCEMENT: EACH REGENT, OFFICER, AND KEY EMPLOYEE IS REQUIRED TO ANNUALLY DISCLOSE, IN WRITING, ANY FINANCIAL OR BUSINESS RELATIONSHIPS THAT HE OR SHE, OR ANY FAMILY MEMBER, HAS WITH PEPPERDINE UNIVERSITY. THE REGENT DISCLOSURES ARE REVIEWED BY THE GOVERNANCE COMMITTEE AND THE BOARD CHAIR. ALL DISCLOSURES BY SENIOR ADMINISTRATION ARE REVIEWED BY THE AUDIT COMMITTEE. SENIOR ADMINISTRATION INCLUDES THE PRESIDENT, THE CHANCELLOR, THE VICE CHANCELLORS, ALL PROVOSTS, ALL VICE PRESIDENTS, THE GENERAL COUNSEL, THE CHIEF FINANCIAL OFFICER, AND THE CONTROLLER. ALL OTHER EMPLOYEE DISCLOSURES ARE REVIEWED BY GENERAL COUNSEL, THE SENIOR EXECUTIVE VICE PRESIDENT, AND THE PRESIDENT. ALL CONFLICT SITUATIONS ARE RESOLVED DURING THE REVIEW PROCESS IN ACCORDANCE WITH THE UNIVERSITY'S CONFLICT OF INTEREST POLICY. IF AN ACTUAL CONFLICT IS FOUND FOR A REGENT, THE REGENT IS ASKED TO RECUSE HIM OR HERSELF FROM THE MATTER. RESOLUTION OF CONFLICTS FOR SENIOR ADMINISTRATORS AND OTHER EMPLOYEES ARE OVERSEEN BY GENERAL COUNSEL.
FORM 990, PART VI, SECTION B, LINE 15 PRESIDENT & CEO COMPENSATION: THE AUDIT AND GOVERNANCE COMMITTEE OF PEPPERDINE UNIVERSITY'S BOARD OF REGENTS REVIEWS THE TOTAL COMPENSATION FOR THE PRESIDENT AND CHIEF EXECUTIVE OFFICER ON AN ANNUAL BASIS. THE INDIVIDUALS ON THE AUDIT AND GOVERNANCE COMMITTEE THAT CONDUCT THIS REVIEW ARE INDEPENDENT WITH RESPECT TO COMPENSATION DETERMINATIONS. THIS REVIEW INCLUDES CONSIDERATION OF A BENCHMARKING REPORT PROVIDED ANNUALLY BY THE UNIVERSITY'S GENERAL COUNSEL AND HUMAN RESOURCES DEPARTMENT. IN ADDITION TO THE ANNUAL BENCHMARKING REPORT, THE UNIVERSITY REGULARLY REVIEWS BENCHMARKING PRACTICES BY UNDERGOING AN EVALUATION WITH A THIRD PARTY. THE UNIVERSITY'S MOST RECENT EXECUTIVE COMPENSATION ANALYSIS CONDUCTED BY AN EXTERNAL CONSULTANT WAS COMPLETED ON SEPTEMBER 8, 2025 TO ASSESS FY25 COMPENSATION AND GUIDE FY26 COMPENSATION TARGETS. THE ANALYSIS INCLUDED A PEER GROUP EVALUATION FOR TOTAL COMPENSATION, AS WELL AS A REVIEW OF ANNUAL MERIT INCREASES. ANY DELIBERATIONS FROM THE AUDIT AND GOVERNANCE COMMITTEE ARE REFLECTED IN A TRANSACTION REPORT THAT SUMMARIZES DECISIONS AND RECOMMENDATIONS. OTHER OFFICER & KEY EMPLOYEE COMPENSATION: THE AUDIT AND GOVERNANCE COMMITTEE OF PEPPERDINE UNIVERSITY'S BOARD OF REGENTS REVIEWS THE TOTAL COMPENSATION FOR SELECT SENIOR ADMINISTRATORS, ON AN ANNUAL BASIS. THE INDIVIDUALS ON THE AUDIT AND GOVERNANCE COMMITTEE THAT CONDUCT THIS REVIEW ARE INDEPENDENT WITH RESPECT TO COMPENSATION DETERMINATIONS. THIS REVIEW INCLUDES CONSIDERATION OF A BENCHMARKING REPORT PROVIDED ANNUALLY BY THE UNIVERSITY'S GENERAL COUNSEL AND HUMAN RESOURCES DEPARTMENT. IN ADDITION TO THE ANNUAL BENCHMARKING REPORT, THE UNIVERSITY REGULARLY REVIEWS BENCHMARKING PRACTICES BY UNDERGOING AN EVALUATION WITH A THIRD PARTY. THE UNIVERSITY'S MOST RECENT EXECUTIVE COMPENSATION ANALYSIS CONDUCTED BY AN EXTERNAL CONSULTANT WAS COMPLETED ON SEPTEMBER 8, 2025 TO ASSESS FY25 COMPENSATION AND GUIDE FY26 COMPENSATION TARGETS. THE ANALYSIS INCLUDED A PEER GROUP EVALUATION FOR TOTAL COMPENSATION, AS WELL AS A REVIEW OF ANNUAL MERIT INCREASES. ANY DELIBERATIONS FROM THE GOVERNANCE COMMITTEE ARE REFLECTED IN A TRANSACTION REPORT THAT SUMMARIZES DECISIONS AND RECOMMENDATIONS.
FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS AVAILABLE FOR PUBLIC INSPECTION: PEPPERDINE UNIVERSITY'S FINANCIAL STATEMENTS ARE MADE AVAILABLE VIA THE UNIVERSITY'S WEBSITE. THE UNIVERSITY DOES NOT MAKE ITS CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC.
FORM 990, PART XI, LINE 9: ACTUARIAL ADJUSTMENT OF TRUST OBLIGATIONS -1,892,492. LOSS ON VALUATION OF BENEFICIAL INTEREST -1,641,851. ANNUITY FUNDS TRANSFERRED FROM RELATED ORGANIZATION 12,515,802.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.
Cat. No. 51056K
Schedule O (Form 990) (Rev. 1-2025)


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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
PEPPERDINE UNIVERSITY
 
Employer identification number

95-1644037
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) WAVE JUSTICE LLC
24255 PACIFIC COAST HIGHWAY
MALIBU,CA90263
39-2809083 		SUPPORT PEPPERDINE UNIVERSITY CA 0 0 PEPPERDINE UNIVERSITY
 
(2) WAVE VENTURES LLC
24255 PACIFIC COAST HIGHWAY
MALIBU,CA90263
46-4526544 		SUPPORT PEPPERDINE UNIVERSITY CA 0 742,595 PEPPERDINE UNIVERSITY
 
(3) PEPPERDINE UNIVERSITY UGANDA LIMITED
6 SSERUNKUMA ROAD
KAMPALA    
UG
EDUCATION UG 25,168 7,730 PEPPERDINE UNIVERSITY
 
(4) PEPPERDINE UNIVERSITY A MALIBU SUCCURSALE DE BLONAY-SAINT LEGIER
CHEMIN DES BOULINGRINS 10
SAINTLEGIER   1806
SZ
EDUCATION SZ 8,222,056 1,305,039 PEPPERDINE UNIVERSITY
 




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?
Yes No
(1)WAVE ENTERPRISES INC
24255 PACIFIC COAST HIGHWAY

MALIBU,CA90263
95-4274572 		SUPPORT PEPPERDINE UNIVERSITY CA 501(C)(3) LINE 12A, I PEPPERDINE UNIVERSITY
 
Yes
 
(2)WAVE SERVICES INC
24255 PACIFIC COAST HIGHWAY

MALIBU,CA90263
95-4315778 		SUPPORT PEPPERDINE UNIVERSITY CA 501(C)(3) LINE 12A, I PEPPERDINE UNIVERSITY
 
Yes
 
(3)PEPPERDINE UNIVERSITY (USA) IN LONDON
56 PRINCES GATE
LONDON   SW72PG
UK
EDUCATION UK     PEPPERDINE UNIVERSITY
 
Yes
 
(4)PEPPERDINE UNIVERSITY RWANDA CBC
REMERA GASABO
UMUJYI WA KIGALI    
RW
98-1769828 		SOCIAL JUSTICE RW     PEPPERDINE UNIVERSITY
 
Yes
 
(5)PEPPERDINE GHANA LGB
GA118-3363 NUMBER 23 NORTEI ABABI
ACCRA    
GH
98-1792404 		SOCIAL JUSTICE GH     PEPPERDINE UNIVERSITY
 
Yes
 




For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50135Y
Schedule R (Form 990) (Rev. 1-2025)
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
Yes No Yes No
(1) ANDURIL HOLDINGS LLC

310 ALDER ROAD PO BOX 841
DOVER,DE19904
01-0935824 		INVESTMENTS DE PEPPERDINE UNIVERSITY
  		EXCLUDED 228,822 1,278,204   No     No 99.000 %
(2) MELODEON LBS DE I HOLDCO LP

143 WEST STREET SUITE 202
NEW MILFORD,CT06776
84-1955404 		INVESTMENTS CT PEPPERDINE UNIVERSITY
  		EXCLUDED 599,211 14,098,404   No     No 95.610 %
(3) P-901 NORTH FAIRFAX CO-INVESTOR LLC

4700 WILSHIRE BLVD
LOS ANGELES,CA90010
83-4222000 		REAL ESTATE CA PEPPERDINE UNIVERSITY
  		UNRELATED 297,913 1,818,868   No 243,867   No 100.000 %








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?
Yes No
(1) PEPPERDINE UNIVERSITY SRL

11 DE SEPTIEMBRE 955
BUENOS AIRES   (1426) CAP
AR
EDUCATION AR PEPPERDINE
  		C     100.000 % Yes  
(2) FUNDACION PEPPERDINE UNIVERSITY PARA

11 DE SEPTIEMBRE 955
BUENOS AIRES   (1426) CAP
AR
EDUCATION AR PEPPERDINE
  		C 2,853,625 121,171 100.000 % Yes  
(3) CINDERELLA IMMOBILIARE SRL

VIALE MILTON 41
FLORENCE   50129
IT
EDUCATION IT PEPPERDINE
  		C 4,671,271 3,134,001 99.000 % Yes  
(4) REVOCABLE TRUST

24255 PACIFIC COAST HIGHWAY
MALIBU,CA90263
 INVESTING CA PEPPERDINE
  		T 13,408 650,387 100.000 % Yes  
(5) CHARITABLE REMAINDER UNITRUST (1)

24255 PACIFIC COAST HIGHWAY
MALIBU,CA90263
 INVESTING CA PEPPERDINE
  		T       Yes  
(6) CHARITABLE GIFT ANNUITIES (68)

24255 PACIFIC COAST HIGHWAY
MALIBU,CA90263
 INVESTING CA PEPPERDINE
  		T       Yes  
(7) CHARITABLE REMAINDER UNITRUSTS (69)

24255 PACIFIC COAST HIGHWAY
MALIBU,CA90263
 INVESTING CA WAVE SERVICES
  		T       Yes  
(8) CHARITABLE REMAINDER ANNUITY TRUST (1)

24255 PACIFIC COAST HIGHWAY
MALIBU,CA90263
 INVESTING CA WAVE SERVICES
  		T       Yes  
(9) NIM CHARITABLE REMAINDER UNITRUST (4)

24255 PACIFIC COAST HIGHWAY
MALIBU,CA90263
 INVESTING CA WAVE SERVICES
  		T       Yes  
(10) IRREVOCABLE TRUSTS

24255 PACIFIC COAST HIGHWAY
MALIBU,CA90263
 INVESTING CA WAVE SERVICES
  		T   4,056,251 100.000 % Yes  
Schedule R (Form 990) (Rev. 1-2025)
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
No
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 .....................
1a
 
No
b Gift, grant, or capital contribution to related organization(s) ............................
1b
Yes
 
c Gift, grant, or capital contribution from related organization(s) ............................
1c
Yes
 
d Loans or loan guarantees to or for related organization(s) ............................
1d
 
No
e Loans or loan guarantees by related organization(s) ............................
1e
 
No
f Dividends from related organization(s) ............................
1f
 
No
g Sale of assets to related organization(s) ............................
1g
 
No
h Purchase of assets from related organization(s) ............................
1h
 
No
i Exchange of assets with related organization(s) ............................
1i
 
No
j Lease of facilities, equipment, or other assets to related organization(s) .......................
1j
 
No
k Lease of facilities, equipment, or other assets from related organization(s) ......................
1k
 
No
l Performance of services or membership or fundraising solicitations for related organization(s) .....................
1l
 
No
m Performance of services or membership or fundraising solicitations by related organization(s) .................
1m
 
No
n Sharing of facilities, equipment, mailing lists, or other assets with related organization(s) ...................
1n
Yes
 
o Sharing of paid employees with related organization(s) ............................
1o
Yes
 
p Reimbursement paid to related organization(s) for expenses ............................
1p
 
No
q Reimbursement paid by related organization(s) for expenses ............................
1q
Yes
 
r Other transfer of cash or property to related organization(s) ............................
1r
Yes
 
s Other transfer of cash or property from related organization(s) ............................
1s
Yes
 
2
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) WAVE ENTERPRISES INC

 S 502,794 FMV
(2) WAVE ENTERPRISES INC

 Q 123,279 FMV
(3) WAVE ENTERPRISES INC

 R 110,762 CASH TRANSFER
(4) WAVE SERVICES INC

 Q 277,195 FMV
(5) WAVE SERVICES INC

 S 12,515,802 PRESENT VALUE
(6) PEPPERDINE UNIVERSITY (USA) IN LONDON UK

 R 2,019,433 CASH TRANSFER
(7) FUNDACION PEPPERDINE UNIVERSITY PARA AMERICA

 R 1,819,594 CASH TRANSFER
(8) CINDERELLA IMMOBILIARE SRL

 R 1,652,420 CASH TRANSFER
(9) PEPPERDINE UNIVERSITY RWANDA CBC

 R 270,000 CASH TRANSFER
Schedule R (Form 990) (Rev. 1-2025)
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) 		(d)
Predominant income (related, unrelated, excluded from tax under sections 512-514)

(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
Yes No Yes No Yes No






























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

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