SCHEDULE D
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Financial Statements
SchDMd Bullet Complete if the organization answered "Yes," on Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
SchDMd Bullet Attach to Form 990.
Information about Schedule D (Form 990) and its instructions is at www.irs.gov/form990.
OMB No. 1545-0047
2014
Open to Public Inspection
Name of the organization
YALE UNIVERSITY
 
Employer identification number

06-0646973
Part I
Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.
(a) Donor advised funds (b) Funds and other accounts
1 Total number at end of year .... 9  
2 Aggregate value of contributions to (during year) 9,508,351  
3 Aggregate value of grants from (during year) 17,676,095  
4 Aggregate value at end of year ..... 63,673,463  
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" to 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 8/17/06, 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 SchDMd Bullet  
4
Number of states where property subject to conservation easement is located SchDMd Bullet  
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, and enforcing conservation easements during the year
SchDMd Bullet  
7
Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet $  
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" to Form 990, Part IV, line 8.
1a
If the organization elected, as permitted under SFAS 116 (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 SFAS 116 (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 in Form 990, Part VIII, line 1 .........................SchDMd Bullet $  
(ii)
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
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 SFAS 116 (ASC 958) relating to these items:
a
Revenue included in Form 990, Part VIII, line 1 ..........................SchDMd Bullet $  
b
Assets included in Form 990, Part X ...............................SchDMd Bullet $  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 52283D
Schedule D (Form 990) 2014
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Schedule D (Form 990) 2014
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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" to 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" to 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 .... 24,089,614,000 20,993,584,000 19,606,479,000 19,630,896,000 16,863,612,000
b Contributions ... 117,434,000 131,476,000 147,031,000 137,655,000 303,444,000
c Net investment earnings, gains, and losses 2,579,415,000 4,037,639,000 2,294,825,000 877,883,000 3,465,103,000
d Grants or scholarships ... 165,168,000 162,357,000 157,718,000 152,900,000 146,778,000
e Other expenditures for facilities
and programs ... 		750,471,000 833,291,000 824,778,000 819,118,000 788,353,000
f Administrative expenses .... 81,013,000 77,437,000 72,255,000 67,937,000 66,132,000
g End of year balance ...... 25,789,811,000 24,089,614,000 20,993,584,000 19,606,479,000 19,630,896,000
2
Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:
a
Board designated or quasi-endowment SchDMd Bullet15.900 %
b
Permanent endowment SchDMd Bullet13.360 %
c
Temporarily restricted endowment SchDMd Bullet70.740 %
The percentages in 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)
 
No
(ii) related organizations .................
3a(ii)
 
No
b
If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........
3b
 
 
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' to 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 ...   134,327,277 134,327,277
b Buildings 59,731,892 6,049,160,118 1,961,636,110 4,147,255,900
c Leasehold improvements   1,299,035 789,394 509,641
d Equipment ...   570,999,138 420,114,614 150,884,524
e Other ...        
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).)..SchDMdBullet 4,432,977,342
Schedule D (Form 990) 2014
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Schedule D (Form 990) 2014
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Part VII
Investments—Other Securities. Complete if the organization answered 'Yes' to 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) FIXED INCOME 		64,092,298 F

(B) COMMON STOCK 		108,061,950 F

(C) EQUITY INVESTMENTS 		22,094,013,719 F

(D) OTHER INVESTMENTS 		262,851,094 F





Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)Small Bullet 22,529,019,061
Part VIII
Investments—Program Related. Complete if the organization answered 'Yes' to 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








Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)Small Bullet  
Part IX
Other Assets. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11d. See Form 990, Part X, line 15.
(a) Description (b) Book value








Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........Small Bullet  
Part X
Other Liabilities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.
1.(a) Description of liability (b) Book value
Federal income taxes  
EMPLOYEE BENEFIT OBLIGATIONS 955,440,196
COMPENSATED ABSENCES 64,096,987
FINANCIAL AID GRANT OBLIGATIONS 50,703,000
ASSET RETIREMENT OBLIGATIONS 36,800,000
CAPITAL LEASE OBLIGATIONS 54,264,875
LIABILITIES UNDER SPLIT-INTEREST AGREEMENTS 114,605,747
ADVANCES FROM FEDERAL GOV'T FOR STUDENT LOANS 31,437,624
SECURITIES SOLD NOT YET PURCHASED 220,550,888
DUE TO INSTITUTIONS 1,770,045,854
OTHER LIABILITIES 238,674,351
Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)Small Bullet 3,536,619,522
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) 2014
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Schedule D (Form 990) 2014
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Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1 Total revenue, gains, and other support per audited financial statements ....... 1 4,771,948,000
2 Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a Net unrealized gains (losses) on investments .... 2a -281,843,173
b Donated services and use of facilities ......... 2b  
c Recoveries of prior year grants ........... 2c  
d Other (Describe in Part XIII.) ............ 2d -70,680,139
e Add lines 2a through 2d ..................... 2e -352,523,312
3 Subtract line 2e from line 1.................. 3 5,124,471,312
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 88,100,066
b Other (Describe in Part XIII.) ........... 4b 249,101,147
c Add lines 4a and 4b.................... 4c 337,201,213
5 Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ...... 5 5,461,672,525
Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1 Total expenses and losses per audited financial statements ........... 1 3,187,608,000
2 Amounts included on line 1 but not on Form 990, Part IX, line 25:
a Donated services and use of facilities ......... 2a  
b Prior year adjustments ............ 2b  
c Other losses ................ 2c  
d Other (Describe in Part XIII.) ............ 2d 11,010,351
e Add lines 2a through 2d.................... 2e 11,010,351
3 Subtract line 2e from line 1................... 3 3,176,597,649
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 88,100,066
b Other (Describe in Part XIII.) ............ 4b 249,101,147
c Add lines 4a and 4b..................... 4c 337,201,213
5 Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ...... 5 3,513,798,862

Part XIII
Supplemental Information
Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part IV, lines 1b and 2b; Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.
Return Reference Explanation
PART III, LINE 1A: YALE UNIVERSITY FINANCIAL STATEMENTS - COLLECTIONS FOOTNOTE: COLLECTIONS AT YALE INCLUDE WORKS OF ART, LITERARY WORKS, HISTORICAL TREASURES AND ARTIFACTS THAT ARE MAINTAINED IN THE UNIVERSITY'S MUSEUMS AND LIBRARIES. THESE COLLECTIONS ARE PROTECTED AND PRESERVED FOR PUBLIC EXHIBITION, EDUCATION, RESEARCH AND THE FURTHERANCE OF PUBLIC SERVICE. COLLECTIONS ARE NOT CAPITALIZED; PURCHASES OF COLLECTION ITEMS ARE RECORDED AS OPERATING EXPENSES IN THE UNIVERSITY'S CONSOLIDATED FINANCIAL STATEMENTS IN THE PERIOD IN WHICH THE ITEMS ARE ACQUIRED.
PART III, LINE 4: YALE UNIVERSITY COLLECTIONS ARE AN INTEGRAL PART OF TEACHING AND LEARNING ACROSS THE UNIVERSITY AND INCLUDE THE YALE UNIVERSITY ART GALLERY, THE YALE CENTER FOR BRITISH ART, THE PEABODY MUSEUM OF NATURAL HISTORY, AND THE COLLECTION OF MUSICAL INSTRUMENTS. ALL THE COLLECTIONS ARE OPEN TO THE PUBLIC. THE YALE UNIVERSITY ART GALLERY: THE YALE UNIVERSITY ART GALLERY, FOUNDED IN 1832, IS THE OLDEST U.S. COLLEGE ART MUSEUM. THE GALLERY HOUSES MORE THAN 200,000 OBJECTS REPRESENTING EASTERN AND WESTERN CULTURES AND RANGING IN DATE FROM ANCIENT TIMES TO THE PRESENT DAY. THE COLLECTION INCLUDES ANCIENT, MEDIEVAL AND RENAISSANCE ART, NEAR AND FAR EASTERN ART, ARCHAEOLOGICAL MATERIAL, PRE-COLOMBIAN AND AFRICAN ART, WORKS OF EUROPEAN AND AMERICAN MASTERS FROM VIRTUALLY EVERY PERIOD, AND A RICH COLLECTION OF MODERN AND CONTEMPORARY ART. THE MISSION OF THE YALE UNIVERSITY ART GALLERY IS TO ENCOURAGE APPRECIATION AND UNDERSTANDING OF ART AND ITS ROLE IN SOCIETY THROUGH DIRECT ENGAGEMENT WITH ORIGINAL WORKS OF ART. THE GALLERY STIMULATES ACTIVE LEARNING ABOUT ART AND THE CREATIVE PROCESS THROUGH RESEARCH, TEACHING, AND DIALOGUE AMONG COMMUNITIES OF YALE STUDENTS, FACULTY, ARTISTS, SCHOLARS, ALUMNI, AND THE WIDER PUBLIC. THE GALLERY ORGANIZES EXHIBITIONS AND EDUCATIONAL PROGRAMS TO OFFER ENJOYMENT AND ENCOURAGE INQUIRY, WHILE BUILDING AND MAINTAINING ITS COLLECTIONS IN TRUST FOR FUTURE GENERATIONS. THE YALE CENTER FOR BRITISH ART: THE YALE CENTER FOR BRITISH ART IS A PUBLIC ART MUSEUM AND RESEARCH INSTITUTE FOR THE STUDY OF BRITISH ART AND CULTURE. THE YALE CENTER FOR BRITISH ART, WHICH OPENED IN 1977, HOUSES THE LARGEST COLLECTION OF BRITISH ART OUTSIDE THE UNITED KINGDOM. THE COLLECTION OF PAINTINGS, SCULPTURE, PRINTS, DRAWINGS, RARE BOOKS, AND MANUSCRIPTS REFLECTS THE DEVELOPMENT OF BRITISH ART AND LIFE FROM THE ELIZABETHAN PERIOD ONWARD. THE CENTER OFFERS A YEAR-ROUND SCHEDULE OF EXHIBITIONS AND PROGRAMS, INCLUDING LECTURES, CONFERENCES, FILMS, CONCERTS, AND PERFORMANCES. THE YALE CENTER FOR BRITISH ART OVERSEES AN ACTIVE RESEARCH PROGRAM THROUGH WHICH IT PROMOTES AND FOSTERS THE SCHOLARSHIP OF ALL ASPECTS OF BRITISH ART AND MATERIAL CULTURE. ACADEMIC RESOURCES OF THE CENTER INCLUDE THE REFERENCE LIBRARY AND ARCHIVE, CONSERVATION LABORATORIES, A STUDY ROOM FOR EXAMINING WORKS ON PAPER AS WELL AS RARE BOOKS AND MANUSCRIPTS FROM THE COLLECTION, AND AN ONLINE CATALOGUE OF THE COLLECTIONS. PEABODY MUSEUM: YALE'S PEABODY MUSEUM OF NATURAL HISTORY, FOUNDED IN 1866, IS ONE OF THE OLDEST AND LARGEST UNIVERSITY-BASED NATURAL HISTORY MUSEUMS, WITH MORE THAN 13 MILLION OBJECTS HOUSED IN 10 DIFFERENT DIVISIONS AND REPRESENTING MORE THAN 4 BILLION YEARS OF GEOLOGICAL, BIOLOGICAL, AND HUMAN HISTORY. THESE COLLECTIONS ARE HISTORICALLY IMPORTANT, AND ALL ARE IN ACTIVE USE BY SCHOLARS FROM YALE AND ELSEWHERE. MUSEUMS AND THE EXPERTISE THAT SURROUNDS THEM ARE VIBRANT ELEMENTS OF YALE'S CULTURE OF SCHOLARSHIP AND TEACHING. THE PEABODY IS A WORKING MUSEUM, WHERE PUBLIC EXHIBITION, RESEARCH, CONSERVATION, TEACHING, AND LEARNING INTERSECT. ITS MISSION IS TO SERVE THE UNIVERSITY BY ADVANCING THE UNDERSTANDING OF EARTH'S HISTORY THROUGH GEOLOGICAL, BIOLOGICAL, AND ANTHROPOLOGICAL RESEARCH, AND BY COMMUNICATING THE RESULTS OF THIS RESEARCH TO THE WIDEST POSSIBLE AUDIENCE THROUGH PUBLICATION, EXHIBITION, AND EDUCATIONAL PROGRAMS. FUNDAMENTAL TO THIS MISSION IS STEWARDSHIP OF THE MUSEUM'S RICH COLLECTIONS, WHICH PROVIDE A REMARKABLE RECORD OF THE HISTORY OF THE EARTH, ITS LIFE, AND ITS CULTURES. CONSERVATION, AUGMENTATION AND USE OF THESE COLLECTIONS ARE INCREASINGLY URGENT AS MODERN THREATS TO THE DIVERSITY OF LIFE AND CULTURE CONTINUE TO INTENSIFY. THE COLLECTIONS OF THE YALE PEABODY MUSEUM OF NATURAL HISTORY PROVIDE MATERIAL SUPPORT FOR UNDERGRADUATE RESEARCH AT YALE UNIVERSITY. THE MUSEUM'S CURATORIAL DIVISIONS MAINTAIN TEACHING COLLECTIONS FOR USE IN A WIDE RANGE OF UNDERGRADUATE CLASSROOM AND LABORATORY COURSES, FROM FORENSIC ANTHROPOLOGY TO EVOLUTIONARY BIOLOGY. THESE COLLECTIONS ARE ACTIVELY USED FOR SENIOR THESIS RESEARCH. IN ADDITION, EACH YEAR THE YALE PEABODY MUSEUM PROVIDES EDUCATIONAL PROGRAMS ON BIOLOGY, PALEONTOLOGY, GEOLOGY, ANCIENT CIVILIZATIONS, SOCIAL STUDIES AND ART TO MORE THAN 25,000 VISITORS FROM THROUGHOUT THE NORTHEAST, INCLUDING ELEMENTARY THROUGH COLLEGE STUDENTS AND OTHER PRIVATE AND COMMUNITY-BASED GROUPS. ALL PROGRAMS DRAW ON THE MUSEUM'S EXHIBITS TO MEET THE INCREASINGLY SOPHISTICATED NEEDS OF SCIENCE AND SOCIAL STUDIES EDUCATION AND MOST CAN BE ADAPTED TO ACCOMMODATE SPECIFIC GROUP NEEDS AS REQUESTED. THE MUSEUM'S COLLECTIONS ARE AVAILABLE TO LEGITIMATE RESEARCHERS AT ESTABLISHED INSTITUTIONS FOR SCHOLARLY USE. COLLECTION OF MUSICAL INSTRUMENTS: ESTABLISHED IN 1900, THE COLLECTION OF MUSICAL INSTRUMENTS TODAY COMPRISES NEARLY ONE THOUSAND INSTRUMENTS, THE MAJORITY DOCUMENTING THE HISTORY OF WESTERN ART MUSIC. IT IS COMMITTED TO FOSTERING THE UNDERSTANDING AND APPRECIATION OF MUSICAL INSTRUMENTS FROM ALL CULTURES AND PERIODS. ONE OF THE FOREMOST INSTITUTIONS OF ITS KIND, THE COLLECTION ACQUIRES, PRESERVES, AND EXHIBITS MUSICAL INSTRUMENTS FROM ANTIQUITY TO THE PRESENT, FEATURING RESTORED EXAMPLES IN DEMONSTRATION AND LIVE PERFORMANCE. IT PROVIDES ACCESS TO AND DISSEMINATES INFORMATION ABOUT ITS HOLDINGS TO YALE STUDENTS, FACULTY, AND STAFF; TO SCHOLARS, MUSICIANS, AND INSTRUMENT MAKERS; AND TO THE BROADER PUBLIC. AN IMPORTANT RESOURCE FOR THE MUSIC CURRICULA OF THE UNIVERSITY, THE COLLECTION SERVES AS A LABORATORY FOR COURSES IN THE HISTORY OF MUSICAL INSTRUMENTS AND AS A SUPPLEMENTAL ARCHIVE FOR COURSES TAUGHT IN THE ARTS AND SCIENCES. THE COLLECTION MAINTAINS REGULAR PUBLIC VISITING HOURS, MOUNTS EXHIBITS, AND PRESENTS AN ANNUAL SERIES OF CONCERTS. LECTURES, TOURS, AND SPECIAL CONCERTS ARE OFFERED THROUGHOUT THE YEAR. EXHIBITIONS ARE ALSO FREQUENTLY MOUNTED AT THE FOLLOWING VENUES ON CAMPUS: YALE SCHOOL OF ARCHITECTURE GALLEY, BEINECKE RARE BOOK AND MANUSCRIPT LIBRARY, GREEN HALL GALLERY (SCHOOL OF ART), 32 EDGEWOOD GALLERY (SCHOOL OF ART), GALLERY AT WHITNEY, AND STERLING MEMORIAL LIBRARY, AS WELL AS AT OTHER NON-YALE LOCATIONS AND INSTITUTIONS THROUGH UNIVERSITY LOAN OR EXCHANGE PROGRAMS. YALE UNIVERSITY LIBRARY: IN ADDITION TO ITS MUSEUMS, THE YALE UNIVERSITY LIBRARY SERVES TEACHING, LEARNING AND RESEARCH AT YALE AND FOR THE WORLD-WIDE SCHOLARLY COMMUNITY THROUGH OUR STAFF, COLLECTIONS, LIBRARY SPACES, AND SYSTEMS. THE COLLECTION OF NEARLY 15 MILLION PRINT AND ELECTRONIC VOLUMES IS HOUSED IN 15 LIBRARIES, INCLUDING STERLING MEMORIAL, BEINECKE, AND BASS LIBRARIES, THE CENTER FOR SCIENCE AND SOCIAL SCIENCE INFORMATION, AS WELL AS MANY OTHER SCHOOL AND DEPARTMENTAL LIBRARIES. COLLECTIONS RANGE FROM ANCIENT PAPYRI AND EARLY PRINTED BOOKS TO DIGITAL COLLECTIONS AND ELECTRONIC DATABASES; AND THEY TRANSCEND A WIDE ARRAY OF FORMATS INCLUDING TEXT, PHOTOGRAPHS, VIDEO, AUDIO, DATA, MAPS, AND EPHEMERA. IN BUILDING THE MAGNIFICENT COLLECTIONS OVER THE LAST THREE CENTURIES, YALE MADE A STEWARDSHIP COMMITMENT TO ASSIST IN THE PRESERVATION OF HUMAN KNOWLEDGE. THE LIBRARY ALSO HAS A RESPONSIBILITY TO BRING DIGITAL RESOURCES TO THE YALE COMMUNITY AND TO ADDRESS THE INTIMIDATING CHALLENGES OF DIGITAL PRESERVATION.
PART IV, LINE 2B: THE AMOUNT REPORTED ON FORM 990, PART X, LINE 21, ESCROW ACCOUNT LIABILITY, CONSISTS OF SECURITY DEPOSITS RELATED TO LEASE AGREEMENTS AND OTHER DEPOSITS. PART V, LINE 1: ENDOWMENT FUNDS INCLUDE THE VALUE OF THE ENDOWMENT AND UNEXPENDED ENDOWMENT INCOME AT JUNE 30, 2015.
PART V, LINE 4: THE ENDOWMENT PROVIDES THE LARGEST SOURCE OF SUPPORT FOR THE ACADEMIC PROGRAMS OF THE UNIVERSITY. SPENDING FROM THE ENDOWMENT GREW DURING THE LAST DECADE FROM $567 MILLION TO $1.1 BILLION, AN ANNUAL GROWTH RATE OF 6.7%. YALE'S SPENDING AND INVESTMENT POLICIES PROVIDED SUBSTANTIAL LEVELS OF CASH FLOW TO THE OPERATING BUDGET FOR CURRENT SCHOLARS WHILE PRESERVING ENDOWMENT PURCHASING POWER FOR FUTURE GENERATIONS. THE YALE ENDOWMENT CONTAINS THOUSANDS OF FUNDS WITH VARIOUS PURPOSES AND RESTRICTIONS. APPROXIMATELY 84% OF FUNDS CONSTITUTE TRUE ENDOWMENT, GIFTS RESTRICTED BY DONORS TO PROVIDE LONG-TERM FUNDING FOR DESIGNATED PURPOSES. THE REMAINING FUNDS REPRESENT QUASI-ENDOWMENT, MONIES THAT THE YALE CORPORATION CHOOSES TO INVEST AND TREAT AS ENDOWMENT. DONORS FREQUENTLY SPECIFY A PARTICULAR PURPOSE FOR GIFTS, CREATING ENDOWMENTS TO FUND PROFESSORSHIPS, TEACHING, AND LECTURESHIPS (24%); SCHOLARSHIPS, FELLOWSHIPS, AND PRIZES (17%); MAINTENANCE (4%); BOOKS (3%); AND MISCELLANEOUS SPECIFIC PURPOSES (27%). TWENTY-FIVE PERCENT OF FUNDS ARE UNRESTRICTED. TWENTY-THREE PERCENT OF THE ENDOWMENT BENEFITS THE OVERALL UNIVERSITY, WITH REMAINING FUNDS FOCUSED ON SPECIFIC UNITS, INCLUDING THE FACULTY OF ARTS AND SCIENCES (37%), THE PROFESSIONAL SCHOOLS (26%), THE LIBRARY (7%), AND OTHER ENTITIES (7%). PART X, LINE 2: THE UNIVERSITY WAS NOT REQUIRED TO INCLUDE A FIN 48 (ASC 740), ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES, FOOTNOTE IN ITS FINANCIAL STATEMENTS FOR THE FISCAL YEAR ENDED JUNE 30, 2015.
PART XI, LINE 2D - OTHER ADJUSTMENTS: AFFILIATED ORGANIZATION INCOME(LOSS): 35,367,791 CHANGE IN FUNDING STATUS OF DEFINED BENEFIT PLANS: (119,262,000) ACTUARIAL ADJUSTMENT FOR SPLIT INTEREST LIABILITY: 14,940,070 NON-CONTROLLING INTEREST: (1,726,000) TOTAL: (70,680,139)
PART XI, LINE 4B - OTHER ADJUSTMENTS: EXPENSES ON THE AUDITED FINANCIAL STATEMENTS THAT ARE RECLASSIFIED FOR FORM 990 PURPOSES AND REPORTED ON PART VIII, LINES 6B, 8B, AND 9B PURSUANT TO FORM INSTRUCTIONS: (12,851,501) TUITION DISCOUNTS WHICH WERE NETTED WITH STUDENT INCOME ON THE AUDITED FINANCIAL STATEMENTS: 261,952,648 TOTAL: 249,101,147
PART XII, LINE 2D - OTHER ADJUSTMENTS: AFFILIATED ORGANIZATION EXPENSE: 11,010,351
PART XII, LINE 4B - OTHER ADJUSTMENTS: EXPENSES ON THE AUDITED FINANCIAL STATEMENTS THAT ARE RECLASSIFIED FOR FORM 990 PURPOSES AND REPORTED ON PART VIII, LINES 6B, 8B, AND 9B PURSUANT TO FORM INSTRUCTIONS: (12,851,501) TUITION DISCOUNTS WHICH WERE NETTED WITH STUDENT INCOME ON THE AUDITED FINANCIAL STATEMENTS: 261,952,648 TOTAL: 249,101,147
Schedule D (Form 990) 2014


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