TY 2020 Form 990

efile Public Visual Render ObjectId: 202231369349317723 - Submission: 2022-05-16 TIN: 23-1352630

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

2020

Open to Public Inspection

A For the 2020 calendar year, or tax year beginning 07-01-2020 , and ending 06-30-2021

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

CName of organization
DREXEL UNIVERSITY

Doing business as

Number and street (or P.O. box if mail is not delivered to street address)
3201 ARCH STREET NO 400

Room/suite

City or town, state or province, country, and ZIP or foreign postal code
PHILADELPHIA, PA191042875

D Employer identification number

23-1352630

E Telephone number

(215) 895-2000

G Gross receipts $ 1,370,663,273

F Name and address of principal officer:
JOHN A FRY
3141 CHESTNUT ST
PHILADELPHIA,PA19104

Tax-exempt status: 501(c)(3) 501(c) ( ) LeftBullet

(insert no.) 4947(a)(1) or 527

Website:

WWW.DREXEL.EDU

H(a)

Is this a group return for
subordinates? Yes No

H(b)

Are all subordinates
included?

Yes No

If "No," attach a list. (see instructions)

H(c)

Group exemption number MediumBullet

K Form of organization: Corporation Trust Association Other MediumBullet

L Year of formation: 1894

M State of legal domicile: PA

Part I

Summary

1	Briefly describe the organization’s mission or most significant activities: INTEGRATED ACADEMIC OFFERINGS ENHANCED BY TECHNOLOGY, COOPERATIVE EDUCATION AND CLINICAL PRACTICE
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	60
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	56
5	Total number of individuals employed in calendar year 2020 (Part V, line 2a) ......	5	11,528
6	Total number of volunteers (estimate if necessary) .............	6	0
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	1,929,717
b	Net unrelated business taxable income from Form 990-T, line 39 .........	7b	930,966

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........	183,627,688	241,046,762
9	Program service revenue (Part VIII, line 2g) .........	1,071,393,808	1,003,411,076
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	55,221,476	-18,988,049
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	19,279,571	16,226,419
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)	1,329,522,543	1,241,696,208
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...	423,762,572	425,417,296
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)	572,513,195	494,578,091
16a	Professional fundraising fees (Part IX, column (A), line 11e) .....	197,566	201,245
b	Total fundraising expenses (Part IX, column (D), line 25) 14,629,537
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	328,029,147	329,745,303
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	1,324,502,480	1,249,941,935
19	Revenue less expenses. Subtract line 18 from line 12.......	5,020,063	-8,245,727
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	2,261,315,252	2,420,281,154
21	Total liabilities (Part X, line 26).............	1,076,781,151	1,080,628,984
22	Net assets or fund balances. Subtract line 21 from line 20.....	1,184,534,101	1,339,652,170

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
		2022-05-16
	Signature of officer	Date
	HELEN Y BOWMANEXECUTIVE VP, TREASURER & COO
	Type or print name and title

Paid Preparer Use Only

Print/Type preparer's name

Preparer's signature

Date

Check if
self-employed

PTIN

Firm's name MediumBullet

Firm's EIN MediumBullet

Firm's address MediumBullet

Phone no.

May the IRS discuss this return with the preparer shown above? (see instructions) ..........YesNo

For Paperwork Reduction Act Notice, see the separate instructions.

Cat. No. 11282Y Form 990 (2020)

Page 2

Form 990 (2020)

Page 2

Part III

Statement of Program Service Accomplishments

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

Briefly describe the organization’s mission: DREXEL UNIVERSITY FULFILLS ITS FOUNDER'S VISION OF PREPARING EACH NEW GENERATION OF STUDENTS FOR PRODUCTIVE PROFESSIONAL AND CIVIC LIVES WHILE ALSO FOCUSING ITS COLLECTIVE EXPERTISE ON SOLVING SOCIETY'S GREATEST PROBLEMS. DREXEL IS AN ACADEMICALLY COMPREHENSIVE AND GLOBALLY ENGAGED URBAN RESEARCH UNIVERSITY, DEDICATED TO ADVANCING KNOWLEDGE AND SOCIETY AND TO PROVIDING EVERY STUDENT WITH A VALUABLE, RIGOROUS, EXPERIENTIAL, TECHNOLOGY-INFUSED EDUCATION, ENRICHED BY THE NATION'S PREMIER CO-OPERATIVE EDUCATION PROGRAM.

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

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

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

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

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


4a	(Code: ) (Expenses $ 877,200,060 including grants of $ 405,697,739 ) (Revenue $ 989,247,127 )
	INSTRUCTIONDREXEL IS A COMPREHENSIVE NATIONAL RESEARCH UNIVERSITY DEDICATED TO PROVIDING QUALITY UNDERGRADUATE, GRADUATE AND PROFESSIONAL EDUCATION FEATURING EXCELLENT ACADEMICS, STATE-OF-THE-ART TECHNOLOGY AND A FOCUS ON REAL-WORLD LEARNING AND SERVICE. THE UNIVERSITY'S RESEARCH ENTERPRISE WAS RECENTLY ELEVATED TO R1 STATUS IN THE CARNEGIE CLASSIFICATION OF INSTITUTIONS OF HIGHER EDUCATION--A RANK THAT DENOTES THE HIGHEST LEVEL OF RESEARCH ACTIVITY, HELD BY JUST 37 PRIVATE UNIVERSITIES AROUND THE COUNTRY. THE UNIVERSITY DISCLOSED 84 TOTAL NEW INVENTIONS AND RECEIVED 36 NEW UNITED STATES PATENTS IN FISCAL YEAR 2021.THE UNIVERSITY'S MISSION SERVES TRADITIONAL, ADULT AND ONLINE STUDENTS. DREXEL OFFERS NATIONALLY ACCREDITED PROGRAMS THAT MEET THE CHANGING NEEDS OF SOCIETY, INCLUDING MORE THAN 80 BACHELOR'S DEGREE PROGRAMS AND MORE THAN 120 GRADUATE AND PROFESSIONAL DEGREE PROGRAMS ORGANIZED IN 15 COLLEGES AND SCHOOLS: COLLEGE OF ARTS AND SCIENCES; SCHOOL OF BIOMEDICAL ENGINEERING, SCIENCE AND HEALTH SYSTEMS; BENNETT S. LEBOW COLLEGE OF BUSINESS; COLLEGE OF COMPUTING & INFORMATICS; SCHOOL OF EDUCATION; COLLEGE OF ENGINEERING; CHARLES D. CLOSE SCHOOL OF ENTREPRENEURSHIP; GRADUATE COLLEGE; PENNONI HONORS COLLEGE; THOMAS R. KLINE SCHOOL OF LAW; ANTOINETTE WESTPHAL COLLEGE OF MEDIA ARTS & DESIGN; COLLEGE OF MEDICINE; COLLEGE OF NURSING AND HEALTH PROFESSIONS; RICHARD C. GOODWIN COLLEGE OF PROFESSIONAL STUDIES AND DANA AND DAVID DORNSIFE SCHOOL OF PUBLIC HEALTH. DREXEL'S STRATEGIC EFFORTS FOCUS ON INVESTING FURTHER IN ACADEMIC EXCELLENCE, SERVING MORE STUDENTS WHILE IMPROVING THE STUDENT EXPERIENCE AND ENHANCING THE UNIVERSITY'S GLOBAL IMPACT. OVER THE LAST 25 YEARS, DREXEL HAS GROWN TO BECOME AN ECONOMIC ENGINE FOR PHILADELPHIA, SERVING AS ONE OF THE CITY'S LARGEST EMPLOYERS, GENERATING MILLIONS OF DOLLARS IN WAGE TAXES, ATTRACTING EXTERNAL FUNDING FOR RESEARCH AND KEY REAL ESTATE DEVELOPMENT PROJECTS, INVESTING IN PUBLIC SCHOOLS, AND SUPPORTING IMPORTANT COMMUNITY ORGANIZATIONS.DREXEL'S ACADEMIC ENTERPRISE HELPS STRENGTHEN THE NEIGHBORHOODS AROUND ITS CAMPUSES. DREXEL IS THE LEAD ACADEMIC PARTNER IN THE APPLICATION AND IMPLEMENTATION PROCESS FOR THE FEDERAL PROMISE ZONE IN WEST PHILADELPHIA, ONE OF THE FIRST FIVE LOCATIONS CHOSEN FOR A WHITE HOUSE INITIATIVE TO DIRECT RESOURCES TO THE NATION'S MOST PERSISTENTLY POVERTY-STRICKEN COMMUNITIES. DREXEL HAS FOSTERED AN ENVIRONMENT OF INCLUSION AND HAS SET INCLUSION AS A STRATEGIC PRIORITY. DREXEL RECOGNIZES AND RESPECTS PEOPLE OF ALL BACKGROUNDS AND EXPERIENCES AND WELCOMES ALL VIEWS AND OPINIONS. IN NOVEMBER 2020, A CENTER FOR BLACK CULTURE OPENED ITS DOORS. THE CENTER WAS ESTABLISHED TO INCREASE KNOWLEDGE, RECOGNITION AND RESPECT OF THE PEOPLE, HISTORIES AND CULTURES OF THE AFRICAN DIASPORA AND ITS MANY CONTRIBUTIONS TO THE WORLD, AND TO SERVE AS A HUB OF INFORMATION AND ACTIVITY. MOST RECENTLY, DREXEL'S DORNSIFE SCHOOL OF PUBLIC HEALTH ANNOUNCED THE LAUNCH OF THE UBUNTU CENTER ON RACISM, GLOBAL MOVEMENTS AND POPULATION HEALTH EQUITYTO UNITE DIVERSE PARTNERS, GENERATE AND TRANSLATE EVIDENCE, ACCELERATE ANTIRACISM SOLUTIONS, AND TRANSFORM THE HEALTH OF COMMUNITIES LOCALLY, NATIONALLY AND GLOBALLY. AS THE UNITED STATES TRANSITIONS TO AN INFORMATION ECONOMY AND HAS DEALT WITH UNPRECEDENTED CHALLENGES BROUGHT ON BY THE COVID-19 PANDEMIC, MANY JOBS REQUIRE THE CRITICAL THINKING AND INNOVATIVE PROBLEM-SOLVING SKILLS INSTILLED AT DREXEL. FOR 100 YEARS, DREXEL HAS EQUIPPED STUDENTS FOR THE REAL WORLD THROUGH OUR RENOWNED COOPERATIVE EDUCATION PROGRAM. DREXEL ESTABLISHED THE SOLUTIONS INSTITUTE THAT HAS BECOME THE NEW GATEWAY FOR INDUSTRY PARTNERSHIPS--CONNECTING DREXEL'S 1,600 CO-OP EMPLOYERS, AS WELL AS OTHER BUSINESSES AND NONPROFITS, AND LINKING THEM TO DREXEL STUDENT TALENT, FACULTY EXPERTISE AND WORLD-CLASS RESOURCES. DREXEL HAS MADE A STRATEGIC COMMITMENT TO HELP IMPROVE THE NATION'S GLOBAL COMPETITIVENESS BY INCREASING STUDENTS' INTERNATIONAL ENGAGEMENT TO BUILD CULTURAL COMPETENCIES. IN RECENT YEARS, THE UNIVERSITY HAS GROWN THE NUMBER OF STUDY ABROAD OPPORTUNITIES BY MORE THAN A QUARTER AND THE NUMBER OF GLOBAL POSITIONS IN DREXEL'S SIGNATURE COOPERATIVE EDUCATION PROGRAM BY A THIRD, WHILE TRIPLING BOTH THE PROGRAMMING OF THE OFFICE OF INTERNATIONAL PROGRAMS AND THE TOTAL NUMBER OF INITIATIVES AT DREXEL THAT SUPPORT CROSS-CULTURAL EDUCATION AND ENGAGEMENT.

4b	(Code: ) (Expenses $ 153,690,930 including grants of $ 19,719,557 ) (Revenue $ 20,251,791 )
	RESEARCHDREXEL RESEARCHERS WORK ACROSS DISCIPLINES TO INCREASE THE WORLD'S STORE OF KNOWLEDGE AND TRANSLATE THAT NEW KNOWLEDGE INTO SOLUTIONS WITH TREMENDOUS POSITIVE IMPACT ON SOCIETY. TYPICALLY, THE UNIVERSITY RECEIVES ABOUT $110 MILLION PER YEAR IN RESEARCH EXPENDITURES, BUT ITS OUTPUT RIVALS THAT OF UNIVERSITIES THAT RECEIVE ANYWHERE FROM THREE TO FIVE TIMES THAT AMOUNT. DREXEL IS COMMITTED TO USING ITS RESEARCH AND TECHNOLOGICAL EXPERTISE TO BECOME AN EVEN MORE POWERFUL ECONOMIC ENGINE FOR GREATER PHILADELPHIA, HELPING TO CREATE NEW HIGH-TECH BUSINESSES AND JOBS. DREXEL LAUNCHED TWO NEW ACCELERATOR PROGRAMS IN 2015, IN COLLABORATION WITH THE STATE-FUNDED BEN FRANKLIN TECHNOLOGY PARTNERS OF SOUTHEASTERN PENNSYLVANIA AND THE CITY OF PHILADELPHIA, TO HELP GROW NEW BUSINESSES IN TECHNOLOGY AND MEDICAL DEVICES AND THERAPEUTICS. THESE ACCELERATORS ARE AMONG THE FIRST BUILDING BLOCKS OF SCHUYLKILL YARDS, A DREXEL AND BRANDYWINE REALTY TRUST INITIATIVE TO DRIVE UNIVERSITY CITY'S ASCENDANCY AS A GLOBAL INNOVATION DISTRICT. DREXEL'S RESEARCHERS CONTINUE TO BUILD PARTNERSHIPS THAT ARE CRITICAL TO CREATING 21ST-CENTURY SOLUTIONS TO AMERICA'S CHALLENGES. IN APRIL 2016, THE U.S. DEPARTMENT OF DEFENSE TAPPED DREXEL AS A KEY LEADER IN THE CREATION OF A $75 MILLION NATIONAL RESEARCH INSTITUTE THAT WILL SUPPORT AMERICAN TEXTILE MANUFACTURERS IN BRINGING SOPHISTICATED NEW MATERIALS AND TEXTILES TO THE MARKETPLACE. THE INSTITUTE, CALLED ADVANCED FUNCTIONAL FABRICS OF AMERICA, HAS BECOME A NATIONAL MANUFACTURING RESOURCE CENTER FOR INDUSTRY AND GOVERNMENT TO DRAW ON ACADEMIC EXPERTISE IN NEW FIBERS AND TEXTILES. THE RESULT WILL BE FABRICS ENGINEERED TO SEE, HEAR, SENSE AND COMMUNICATE; SERVING AN ARRAY OF INDUSTRIES INCLUDING AEROSPACE, APPAREL, ARCHITECTURE AND HEALTH. IN 2019, THE UNIVERSITY OPENED THE CENTER FOR FUNCTIONAL FABRICS AND THE PENNSYLVANIA FABRIC DISCOVERY CENTER. THE LATTER WAS CREATED TO SUPPORT DREXEL'S ROLE AS THE REGIONAL LEADER OF ADVANCED FUNCTIONAL FABRICS OF AMERICA'S NETWORK OF FABRIC DISCOVERY CENTERS. DURING FY21, DREXEL UNIVERSITY CONDUCTED RESEARCH ON THE FOLLOWING RESEARCH GRANTS:FEDERALLY SPONSORED RESEARCH - 973 GRANTSSTATE OF PENNSYLVANIA SPONSORED RESEARCH - 105 GRANTSCITY OF PHILADELPHIA CONTRACTS - 19 GRANTSPRIVATE FOUNDATION SPONSORED RESEARCH - 284 GRANTSINDUSTRY SPONSORED RESEARCH - 145 GRANTS

4c	(Code: ) (Expenses $ 17,382,337 including grants of $ ) (Revenue $ 4,034,013 )
	PATIENT CARE/PUBLIC SERVICEIT IS THE COLLEGE'S PATIENT CARE MISSION TO SERVE THE COMMUNITY THROUGH THE DELIVERY OF HIGH-QUALITY, COST-EFFECTIVE HEALTH CARE SERVICES, INCLUDING PROGRAMS OF HEALTH PROMOTION AND DISEASE PREVENTION. ALL CLINICAL SERVICES ARE PROVIDED WITH CAREFUL REGARD FOR THE INDIVIDUAL PATIENT AND THEIR FAMILY. DREXEL UNIVERSITY'S CLINICAL PRACTICES PROVIDE EXCEPTIONAL CARE IN GENERAL INTERNAL MEDICINE, HIV/AIDS, STUDENT HEALTH, ADDICTION MEDICINE, AND PSYCHIATRY.

4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses1,048,273,327

Form 990 (2020)

Page 3

Form 990 (2020)

Page 3

Part IV

Checklist of Required Schedules

Yes

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

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

Yes

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

...

Yes

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

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

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

.........

Yes

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

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

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

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

....

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

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

Yes

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

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

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......

Yes

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

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

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

11a

Yes

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

.......

11b

Yes

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

.......

11c

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

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

11d

Yes

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

11e

Yes

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

11f

Yes

12a

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

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

12a

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

12b

Yes

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

Yes

14a

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

14a

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

14b

Yes

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

Yes

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

Yes

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

Yes

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

Yes

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

20a

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

20a

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

20b

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

Yes

Form 990 (2020)

Page 4

Form 990 (2020)

Page 4

Part IV

Checklist of Required Schedules (continued)

Yes

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

Yes

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

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 list of attachments

24a

Yes

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

24b

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

24c

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

24d

25a

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

25a

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

25b

Did the organization report any amount on Part X, line 5 or 22 for receivables from or payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons? If "Yes," complete Schedule L, Part II Click to see attachment

...........

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

If "Yes," complete

Schedule L, Part III Click to see attachment

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

Yes

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

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

28a

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

28b

Yes

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

28c

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

Yes

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

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

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

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

Yes

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

Yes

35a

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

35a

Yes

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

35b

Yes

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

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

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

Yes

Part V

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

Yes

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

27,529

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

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

Yes

Form 990 (2020)

Page 5

Form 990 (2020)

Page 5

Part V

Statements Regarding Other IRS Filings and Tax Compliance (continued)

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

11,528

If at least one is reported on line 2a, did the organization file all required federal employment tax returns?
Note. If the sum of lines 1a and 2a is greater than 250, you may be required to e-file (see instructions)

Yes

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

Yes

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

Yes

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

Yes

If "Yes," enter the name of the foreign country: MediumBullet

EK , CM
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).

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

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

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

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

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

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

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

Yes

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

Yes

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

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

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

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

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

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

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

Sponsoring organizations maintaining donor advised funds.

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

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

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

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

10a

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

10b

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

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

11a

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

11b

12a

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

12a

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

12b

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

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

13a

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

13b

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

13c

14a

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

14a

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

14b

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

Yes

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

Form 990 (2020)

Page 6

Form 990 (2020)

Page 6

Part VI

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

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

Section A. Governing Body and Management

Yes

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

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

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

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

Yes

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

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

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

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

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

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

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

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

Yes

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

Yes

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

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

Yes

10a

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

10a

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

10b

11a

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

11a

Yes

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

12a

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

12a

Yes

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

12b

Yes

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

12c

Yes

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

Yes

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

Yes

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

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

15a

Yes

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

15b

Yes

If "Yes" to line 15a or 15b, describe the process in 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

Yes

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

Yes

Section C. Disclosure

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

PA , AK , MD , MA , MI , NH , NY , SC , WA , CO , CA

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

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

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

State the name, address, and telephone number of the person who possesses the organization's books and records:
MediumBullet

COMPTROLLER'S OFFICE3141 CHESTNUT STREET STE 225 PHILADELPHIA,PA19104 (215) 895-1442

Form 990 (2020)

Page 7

Form 990 (2020)

Page 7

Part VII

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

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

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

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

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

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

List the organization’s five current highest compensated employees (other than an officer, director, trustee or key employee)
who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the
organization and any related organizations.

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

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

See 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)	(E) Reportable compensation from related organizations (W-2/1099-MISC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and title
(1) JOHN A FRY...................................................................... PRESIDENT	40.00 ................. 7.00	X	X	2,037,295	0	346,976
(2) ALFRED F ALTOMARI AS OF 920...................................................................... TRUSTEE	2.00 ................. 0.00	X		0	0	0
(3) CHRIS MCKENDRY ANDRADE...................................................................... TRUSTEE	2.00 ................. 0.00	X		0	0	0
(4) MICHAEL BARRY...................................................................... TRUSTEE	2.00 ................. 0.00	X		0	0	0
(5) JEFFREY A BEACHELL...................................................................... TRUSTEE	2.00 ................. 2.00	X		0	0	0
(6) JAMES BEAN...................................................................... TRUSTEE	2.00 ................. 0.00	X		0	0	0
(7) SALLY J BELLET...................................................................... TRUSTEE	2.00 ................. 0.00	X		0	0	0
(8) GREGORY S BENTLEY...................................................................... TRUSTEE	2.00 ................. 0.00	X		0	0	0
(9) THOMAS E BERK...................................................................... TRUSTEE	2.00 ................. 0.00	X		0	0	0
(10) TED BRYCE AS OF 521...................................................................... TRUSTEE	2.00 ................. 0.00	X		0	0	0
(11) KAREN DOUGHERTY BUCHHOLZ...................................................................... TRUSTEE	2.00 ................. 0.00	X		0	0	0
(12) ELINOR HOSTERMAN BUCK...................................................................... TRUSTEE	2.00 ................. 0.00	X		0	0	0
(13) RANDALL S BURKERT...................................................................... TRUSTEE	2.00 ................. 0.00	X		0	0	0
(14) THOMAS A CARAMANICO...................................................................... TRUSTEE	2.00 ................. 0.00	X		0	0	0
(15) R JOHN CHAPEL JR...................................................................... TRUSTEE	2.00 ................. 0.00	X		0	0	0
(16) HONORABLE IDA K CHEN...................................................................... TRUSTEE	2.00 ................. 0.00	X		0	0	0
(17) KATHLEEN P CHIMICLES...................................................................... TRUSTEE	2.00 ................. 0.00	X		0	0	0

Form 990 (2020)

Page 8

Form 990 (2020)

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)	(E) Reportable compensation from related organizations (W-2/1099-MISC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and title
(18) DELLA CLARK AS OF 521........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(19) ABBIE DEAN........................................................................ TRUSTEE	2.00 .......................4.00	X					0	0	0
(20) NICHOLAS DEBENEDICTIS........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(21) AMISH DESAI........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(22) GERIANNE TRINGALI DIPIANO........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(23) DOMENIC M DIPIERO III........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(24) ANGELA DOWD-BURTON AS OF 920........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(25) THOMAS O FITZPATRICK ESQ........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(26) BRIAN R FORD........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(27) MICHAEL FORMAN........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(28) KENNETH FULMER........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(29) SEAN J GALLAGHER........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(30) DAVID R GELTZER........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(31) RICHARD A GREENAWALT........................................................................ CHAIR	2.00 .......................0.00	X	X				0	0	0
(32) DAVID GRIFFITH........................................................................ TRUSTEE	2.00 .......................2.00	X					0	0	0
(33) MAURICIO GUTIERREZ........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(34) RICHARD A HAYNE........................................................................ VICE CHAIR	2.00 .......................0.00	X	X				0	0	0
(35) NINA HENDERSON........................................................................ VICE CHAIR	2.00 .......................0.00	X	X				0	0	0
(36) RICHARD C ILL........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(37) PATRICIA H IMBESI........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(38) JOSEPH H JACOVINI ESQ........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(39) THOMAS R KLINE........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(40) J MICHAEL LAWRIE........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(41) RAPHAEL C LEE........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(42) THOMAS LEONARD........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(43) JEFFREY LYASH JR AS OF 521........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(44) JERRY J MARTIN AS OF 920........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(45) MARK MCADOO........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(46) PATRICK MCGONIGAL........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(47) MATTHEW S NAYLOR........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(48) DENIS P O'BRIEN........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(49) KEVIN J O'HARA........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(50) RICHELLE P PARHAM........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(51) CHARLES P PIZZI........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(52) THOMAS M RAMPULLA........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(53) KATHLEEN REARDON........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(54) MARIA RENZ AS OF 521........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(55) MALIK ROSE AS OF 521........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(56) VIRGINIA S ROSE........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(57) STANLEY W SILVERMAN........................................................................ VICE CHAIR	2.00 .......................0.00	X	X				0	0	0
(58) JOSEPH P UJOBAI........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(59) CHARLES K VALUTAS........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(60) MICHAEL J WILLIAMS........................................................................ TRUSTEE	2.00 .......................0.00	X					0	0	0
(61) HELEN Y BOWMAN........................................................................ EXECUTIVE VP/TREASURER/COO	40.00 .......................5.00		X				880,901	0	43,992
(62) DARIN PFEIFER........................................................................ SECRETARY	40.00 .......................0.00		X				174,372	0	22,296
(63) CHARLES CAIRNS........................................................................ DEAN & SVP, MED AFFAIRS COM	40.00 .......................0.00			X			714,891	0	48,822
(64) PAUL JENSEN........................................................................ SVP & NINA HENDERSON PROVOST	40.00 .......................2.00			X			595,872	0	48,592
(65) DAVID L UNRUH........................................................................ SVP INST ADVANCEMENT	40.00 .......................0.00			X			466,876	0	120,649
(66) MICHAEL J EXLER ESQ........................................................................ SVP AND GENERAL COUNSEL	40.00 .......................2.00			X			456,658	0	45,218
(67) ELISABETH VAN BOCKSTAELE........................................................................ SVP GRAD. AND ONLINE ED.	40.00 .......................0.00			X			400,611	0	41,717
(68) MEGAN WEYLER........................................................................ SVP AND CHRO	40.00 .......................0.00			X			400,740	0	26,357
(69) LORI N DOYLE........................................................................ SVP UNIV COMMUNICATIONS	40.00 .......................0.00			X			338,734	0	35,324
(70) SUBIR SAHU........................................................................ SVP STUDENT SUCCESS	40.00 .......................0.00			X			317,276	0	30,617
(71) EVELYN THIMBA........................................................................ SVP ENROLLMENT MANAGEMENT	40.00 .......................0.00			X			308,734	0	32,322
(72) ALEISTER SAUNDERS........................................................................ EXEC VICE PROV, RES & INNO	40.00 .......................0.00			X			305,118	0	31,222
(73) BRIAN T KEECH........................................................................ SVP GOV & COMMUNITY RELATI	40.00 .......................0.00			X			276,997	0	34,194
(74) DAVID RUSENKO........................................................................ CFO & ASSOCIATE TREASURER; VP FINANCE & ADMIN	40.00 .......................4.00			X			277,216	0	29,383
(75) CATHERINE ULOZAS........................................................................ CHIEF INVESTMENT OFFICER & VP	40.00 .......................0.00			X			247,105	0	22,995
(76) ZACHARY SPIKER........................................................................ HEAD COACH, BASKETBALL	40.00 .......................0.00				X		457,857	0	38,459
(77) DENNIS NOVACK........................................................................ ASSOCIATE DEAN, CLINICAL ACCESS & ASSESSMENT	40.00 .......................0.00				X		446,484	0	26,349
(78) DANIEL VAN KNIPPENBERG........................................................................ PROF, MANAGEMENT	40.00 .......................0.00				X		440,025	0	32,384
(79) YURY GOGOTSI........................................................................ PROF, MATERIALS ENGINEERING	40.00 .......................0.00				X		438,056	0	33,222
(80) PAUL BRANDT-RAUF........................................................................ DEAN, SCHOOL OF BIOMEDICAL ENGINEERING	40.00 .......................0.00				X		431,635	0	33,782
(81) JANICE K MARINI........................................................................ FORMER SECRETARY	40.00 .......................0.00					X	195,769	0	24,884
(82) JOSEPH B HUGHES........................................................................ FORMER DEAN, COLLEGE OF EN	40.00 .......................0.00					X	283,615	0	28,650
(83) DONNA MURASKO PHD........................................................................ FORMER DEAN, COLLEGE OF AR	40.00 .......................0.00					X	253,279	0	27,939
(84) DANIEL V SCHIDLOW........................................................................ FORMER DEAN EMERITUS, COLLEGE OF MEDICINE	40.00 .......................0.00					X	625,635	0	39,148

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)...........	11,771,751	0	1,245,493

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

1,083

Yes

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

Yes

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

Yes

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

Section B. Independent Contractors

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

(A) Name and business address	(B) Description of services	(C) Compensation
BSI CONSTRUCTION LLC 735 BIRCH AVE BENSALEM,PA19103	CONSTRUCTION SERVICES	25,647,225
HUNTER ROBERTS CONSTRUCTION GROUP LLC 1717 ARCH ST STE 3410 PHILADELPHIA,PA19103	CONSTRUCTION SERVICES	6,635,624
ARAMARK SERVICES INC ONE CITIZENS BANK WAY PHILADELPHIA,PA19148	FOOD SERVICE	6,544,616
ALLIED UNIVERSAL SECURITY SERVICES 161 WASHINGTON ST STE 600 CONSHOHOCKEN,PA19104	SECURITY SERVICES	5,675,549
P AGNES INC 2101 PENROSE AVE PHILADELPHIA,PA19145	CONSTRUCTION SERVICES	4,443,916
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 154

Form 990 (2020)

Page 9

Form 990 (2020)

Page 9

Part VIII

Statement of Revenue

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

(A)
Total revenue

(B)
Related or
exempt
function
revenue

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

1a	Federated campaigns..		1a	6,449
b	Membership dues..		1b
c	Fundraising events..		1c	325,422
d	Related organizations		1d	41,060,567
e	Government grants (contributions)		1e	161,501,732

f	All other contributions, gifts, grants, and similar amounts not included above		1f	38,152,592

g	Noncash contributions included in lines 1a - 1f:$		1g	1,072,366

h Total. Add lines 1a-1f.......		241,046,762

		Business Code
2a	TUITION AND FEES	611310	965,952,070	965,952,070
b	NON-DIRECT PUB SUPPORT	541700	23,945,775	23,945,775
c	AUXILIARY ENTERPRISES	611710	9,374,530	9,374,530
d	PATIENT CARE	621110	3,993,726	3,993,726
e	OTHER PROGRAM SERVICES	611710	144,975	144,975
f	All other program service revenue.
g	Total. Add lines 2a–2f .....		1,003,411,076

3 Investment income (including dividends, interest, and othersimilar amounts) ......			14,164,438			14,164,438
4 Income from investment of tax-exempt bond proceeds
5 Royalties...........			929,509			929,509
		(ii) Personal	(i) Real
6a	Gross rents		5,099,196	6a
b	Less: rental expenses		1,798,895	6b
c	Rental income or (loss)		3,300,301	6c
d	Net rental income or (loss).......			3,300,301			3,300,301
		(ii) Other	(i) Securities
7a	Gross amount from sales of assets other than inventory		93,923,000	7a
b	Less: cost or other basis and sales expenses		127,075,487	7b
c	Gain or (loss)		-33,152,487	7c
d	Net gain or (loss).........			-33,152,487			-33,152,487
8a	Gross income from fundraising events (not including $ 325,422of contributions reported on line 1c). See Part IV, line 18 ....
			8a	37,720
b	Less: direct expenses ...		8b	92,683
c	Net income or (loss) from fundraising events..			-54,963			-54,963
9a	Gross income from gaming activities. See Part IV, line 19 ...
			9a
b	Less: direct expenses ...		9b
c	Net income or (loss) from gaming activities..
10a	Gross sales of inventory, less returns and allowances ..
			10a
b	Less: cost of goods sold ..		10b
c	Net income or (loss) from sales of inventory..
Business Code			Miscellaneous Revenue
11a	MISCELLANEOUS REVENUE		900099	10,792,868	10,121,855	671,013
b	APPLICATION SERVICE PR		541519	1,847,933		1,847,933
c	ADVERTISING REVENUE		541800	1,560		1,560
d	All other revenue ....			-590,789		-590,789
e	Total. Add lines 11a–11d ......			12,051,572
12	Total revenue. See instructions.....			1,241,696,208	1,013,532,931	1,929,717	-14,813,202

Form 990 (2020)

Page 10

Form 990 (2020)

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 ....	17,560,563	17,560,563
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ...........	405,690,739	405,690,739
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. .............	2,165,994	2,165,994
4	Benefits paid to or for members .......
5	Compensation of current officers, directors, trustees, and key employees ...........	8,467,027	2,207,886	5,259,074	1,000,067
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) .........
7	Other salaries and wages........	403,826,379	347,568,267	47,076,626	9,181,486
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	8,342,781	7,084,206	1,052,370	206,205
9	Other employee benefits .......	46,150,004	38,231,377	6,837,625	1,081,002
10	Payroll taxes ...........	27,791,900	23,600,693	3,513,657	677,550
11	Fees for services (non-employees):
a	Management ......	1,404,147	1,395,322	8,825
b	Legal .........	3,339,603	337,838	3,001,592	173
c	Accounting ...........	517,566	57,036	460,530
d	Lobbying ...........	755,382	641,426	106,826	7,130
e	Professional fundraising services. See Part IV, line 17	201,245			201,245
f	Investment management fees ......	3,560,982		3,560,982
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O)	50,233,511	39,152,008	10,350,357	731,146
12	Advertising and promotion ....	12,160,729	12,091,326	67,907	1,496
13	Office expenses .......	29,680,238	27,441,402	1,890,095	348,741
14	Information technology ......	20,532,610	17,273,256	2,644,502	614,852
15	Royalties ..	1,617,033	1,617,033
16	Occupancy ...........	70,098,230	31,553,043	38,543,981	1,206
17	Travel ............	1,461,492	1,383,607	75,185	2,700
18	Payments of travel or entertainment expenses for any federal, state, or local public officials .
19	Conferences, conventions, and meetings ....	1,021,286	644,219	274,383	102,684
20	Interest ...........	19,223,667	16,522,680	2,700,987
21	Payments to affiliates .......	5,621,095	414,819	5,206,276
22	Depreciation, depletion, and amortization ..	49,984,717	46,459,246	3,525,471
23	Insurance ...	6,546,142	1,536,042	4,728,464	281,636
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	BAD DEBT EXPENSE	38,345,063	3,036,987	35,308,076
b	PROFESSIONAL MEMBERSHIP	1,857,239	1,164,836	637,862	54,541
c	RECRUITING EXPENSES	822,600	713,487	109,113
d	PARTICIPANT EXPENSE	759,800	749,028	10,772
e	All other expenses	10,202,171	-21,039	10,087,533	135,677
25	Total functional expenses. Add lines 1 through 24e	1,249,941,935	1,048,273,327	187,039,071	14,629,537
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 (2020)

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Form 990 (2020)

Page 11

Part X

Balance Sheet

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

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

1	Cash–non-interest-bearing ........			85,891	1	88,965
2	Savings and temporary cash investments .........			76,718,181	2	86,082,232
3	Pledges and grants receivable, net ......			138,092,605	3	135,234,941
4	Accounts receivable, net .............			95,193,174	4	78,509,097
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 .......
					5
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 ...........				7
8	Inventories for sale or use ............				8
9	Prepaid expenses and deferred charges ......			6,202,595	9	7,048,205
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a	1,558,608,946
b	Less: accumulated depreciation	10b	657,900,698	917,984,460	10c	900,708,248
11	Investments—publicly traded securities .			448,748,560	11	502,046,843
12	Investments—other securities. See Part IV, line 11 .....			340,220,000	12	492,895,000
13	Investments—program-related. See Part IV, line 11 ..			18,473,380	13	13,051,787
14	Intangible assets ...............				14
15	Other assets. See Part IV, line 11 ...........			219,596,406	15	204,615,836
16	Total assets. Add lines 1 through 15 (must equal line 33)...			2,261,315,252	16	2,420,281,154

17	Accounts payable and accrued expenses .....	180,987,736	17	184,573,053
18	Grants payable ...		18
19	Deferred revenue .........	144,734,522	19	139,273,833
20	Tax-exempt bond liabilities .........	514,862,441	20	454,657,462
21	Escrow or custodial account liability. Complete Part IV of Schedule D		21
22	Loans and other payables to any current or former officer, director, trustee, key employee, creator or founder, substantial contributor, or 35% controlled entity or family member of any of these persons .........
			22
23	Secured mortgages and notes payable to unrelated third parties ..		23	104,100,000
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	236,196,452	25	198,024,636
26	Total liabilities. Add lines 17 through 25..	1,076,781,151	26	1,080,628,984

	Organizations that follow FASB ASC 958, check here and complete lines 27, 28, 32, and 33.
27	Net assets without donor restrictions ..........	551,943,374	27	592,807,203
28	Net assets with donor restrictions ...........	632,590,727	28	746,844,967
	Organizations that do not follow FASB ASC 958, check here and complete lines 29 through 33.
29	Capital stock or trust principal, or current funds .....		29
30	Paid-in or capital surplus, or land, building or equipment fund ...		30
31	Retained earnings, endowment, accumulated income, or other funds		31
32	Total net assets or fund balances ...........	1,184,534,101	32	1,339,652,170
33	Total liabilities and net assets/fund balances ........	2,261,315,252	33	2,420,281,154

Form 990 (2020)

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Form 990 (2020)

Page 12

Part XI

Reconcilliation of Net Assets

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

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

1,241,696,208

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

1,249,941,935

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

-8,245,727

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

1,184,534,101

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

163,363,796

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

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

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

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

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

1,339,652,170

Part XII

Financial Statements and Reporting

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

Yes

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

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

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

Separate basis Consolidated basis Both consolidated and separate basis

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

Yes

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

Separate basis Consolidated basis Both consolidated and separate basis

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

Yes

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

As a result of a federal award, was the organization required to undergo an audit or audits as set forth in the Single Audit Act and OMB Circular A-133?

Yes

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

Yes

Form 990 (2020)

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