Schedule K
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information on Tax Exempt Bonds
SchKMediumBullet Complete if the organization answered "Yes" to Form 990, Part IV, line 24a. Provide descriptions,
explanations, and any additional information in Part VI.
SchKMediumBullet Attach to Form 990. SchKMediumBullet See separate instructions.
OMB No. 1545-0047
2012
Open to Public
Inspection
Name of the organization
DREXEL UNIVERSITY
 
Employer identification number
23-1352630
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 PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 2011A
  		23-2243852 70917RX75 05-16-2011 160,304,025 NEW CONSTR/BLDG RENOV/REFUNDING OF 1997, 1998, 1998-2, 2003B   X   X   X
B PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 2007B
  		23-2243852 70917RNP6 10-04-2007 30,000,000 SCIENCE BLDG/DORMITORY/WELLNESS CENTER   X   X   X
C PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 2007A
  		23-2243852 70917RMJ1 10-04-2007 96,463,410 SCIENCE BLDG/DORMITORY/WELLNESS CENTER   X   X   X
D PENNSYLVANIA HIGHER EDUCATIONAL FACILITIES AUTHORITY 2005A&B
  		23-2243852 70917N3B8 02-16-2005 61,312,145 CAPITAL IMPROVEMENTS/EQUIPMENT/ADV REFUNDING OF 1997/1999 BONDS   X   X   X
Part II
Proceeds
A B C D
1 Amount of bonds retired . . . . . . . . . . . . . . 2,590,000 2,325,000   3,065,000
2 Amount of bonds legally defeased . . . . . . . . . . . 250,000      
3 Total proceeds of issue . . . . . . . . . . . . . . 161,953,371 30,572,813 98,251,163 63,310,555
4 Gross proceeds in reserve funds . . . . . . . . . . . .        
5 Capitalized interest from proceeds . . . . . . . . . . . 2,700,000 2,700,000 9,022,947  
6 Proceeds in refunding escrows . . . . . . . . . . . .        
7 Issuance costs from proceeds . . . . . . . . . . . . 1,386,270 285,425 835,415 833,218
8 Credit enhancement from proceeds . . . . . . . . . . . 11,508 11,508 1,529,000 879,260
9 Working capital expenditures from proceeds . . . . . . . . .        
10 Capital expenditures from proceeds . . . . . . . . . . . 77,105,897 27,483,553 86,701,839 31,998,410
11 Other spent proceeds . . . . . . . . . . . . . . 59,095,696     34,167,910
12 Other unspent proceeds . . . . . . . . . . . . . . 24,365,508      
13 Year of substantial completion . . . . . . . . . . . . 2012 2012 2012 2012
Yes No Yes No Yes No Yes No
14 Were the bonds issued as part of a current refunding issue? . . . . . X     X   X   X
15 Were the bonds issued as part of an advance refunding issue? . . . . .   X   X   X X  
16 Has the final allocation of proceeds been made? . . . . . . . .   X X   X   X  
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? . . . . . . . . . . . . . . X   X   X   X  
Part III
Private Business Use
A B C D
Yes No Yes No Yes No Yes No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? . . . . . . .   X   X   X   X
2 Are there any lease arrangements that may result in private business use of bond-financed property? . . . . . . . . . X     X   X X  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) 2012
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Schedule K (Form 990) 2012
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Part III
Private Business Use (Continued)
A B C D
Yes No Yes No Yes No Yes No
3a Are there any management or service contracts that may result in private business use of bond-financed property? . . . . . . . . . . . . X     X   X X  
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property? . . . . . . . . . . . . . . . . X           X  
c Are there any research agreements that may result in private business use of bond-financed property? . . . . . . . . . . . . . . .   X X   X   X  
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property? .   X   X   X   X
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government . . SchKMediumBullet 0% 0.00000% 0% 0%
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government . . . . . . . SchKMediumBullet 0% 0.00000% 0.00000% 0%
6 Total of lines 4 and 5 . . . . . . . . . . . . . . . 0% 0.00000% 0% 0%
7 Does the bond issue meet the private security or payment test? . . . . .   X   X   X   X
8a Has there been a sale or disposition of any of the bond financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?. . . . . . . . . . . . . . . . .   X   X   X   X
b If “Yes” to line 8a, enter the percentage of bond-financed property sold or disposed of.   %   %   %   %
c If “Yes” to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? . . . . . . . . . . . . .                
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under
Regulations sections 1.141-12 and 1.145-2?
X   X   X   X  
Part IV
Arbitrage
A B C D
Yes No Yes No Yes No Yes No
1 Has the issuer filed Form 8038-T? . . . . .   X   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 you checked "No rebate due" in line 2c, provide in Part VI the date the rebate computation was performed
3 Is the bond issue a variable rate issue? . . . . X   X     X X  
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?   X   X   X X  
b Name of provider . . . . . . . . . WELLS FARGO BANK
  		 
  		 
  		 
 
c Term of hedge . . . . . . . . . . 19.800000000000     19.800000000000
d Was the hedge superintegrated? . . . . . .   X           X
e Was a hedge terminated? . . . . . . .   X           X
Schedule K (Form 990) 2012
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Schedule K (Form 990) 2012
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Part IV
Arbitrage (Continued)
A B C D
Yes No Yes No Yes No Yes No
5a Were gross proceeds invested in a guaranteed investment contract (GIC)? . . . . . . . . .   X   X   X X  
b Name of provider . . . . . . . . . ROYAL BANK OF
CANADA 		 
  		 
  		ROYAL BANK OF
CANADA
c Term of GIC . . . . . . . . . . 2.500000000000     2.500000000000
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? . . . . . X           X  
6 Were any gross proceeds invested beyond an available temporary period? . . . . . . . .   X   X   X X  
7 Has the organization established written procedures to monitor the requirements of section 148? . . . X   X   X   X  
Part V
Procedures To Undertake Corrective Action
A B C D
Yes No Yes No Yes No Yes No
1 Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations? X   X   X   X  
Part VI
Supplemental Information. Complete this part to provide additional information for responses to questions on Schedule K (see instructions).
Identifier Return Reference Explanation
SCHEDULE K SUPPLENTAL INFORMATION   PART II, LINE 3, COLUMNS B, C, & D: THE TOTAL PROCEEDS EXCEEDS THE ISSUE PRICE BECAUSE OF THE INVESTMENT EARNINGS ON THE PROJECT FUND. PART II, LINE 12, COLUMNS A & B: THE OTHER SPENT PROCEEDS RELATE TO THE REFUNDING PROCEEDS OF EACH ISSUE. PART IV, LINE 2C, COLUMN A: THE FINAL REBATE REPORT WAS COMPLETED ON 6/5/2013, WHICH DETERMINED THE ISSUE MET THE 6 MONTH SPENDING EXCEPTION. PART IV, LINE 2C, COLUMN B: THE FINAL REBATE REPORT WAS COMPLETED ON 6/7/2013. PART IV, LINE 2C, COLUMN C: THE FINAL REBATE REPORT WAS COMPLETED ON 8/16/2012. PART IV, LINE 2C, COLUMN D: THE FINAL REBATE REPORT WAS COMPLETED ON 9/28/2012.
Schedule K (Form 990) 2012

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