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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 Ⅵ, line 24a. Provide descriptions,
explanations, and any additional information in Part Ⅵ.
SchKMediumBullet Attach to Form 990.
SchKMediumBulletGo to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public
Inspection
Name of the organization
THE BOARD OF TRUSTEES OF THE LELAND
STANFORD JUNIOR UNIVERSITY
Employer identification number
94-1156365
Part Ⅰ
Bond Issues
(a) Issuer name (b) Issuer EIN (c) CUSIP # (d) Date issued (e) Issue price (f) Description of purpose (g) Defeased (h) On
behalf of
issuer		 (i) Pool
financing
Yes No Yes No Yes No
A CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-2
  		52-1705592 130178M86 04-17-2012 99,193,766 SEE SCHEDULE K, PART VI   X   X   X
B CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-3
  		52-1705592 130178X76 05-15-2013 351,795,122 SEE SCHEDULE K, PART VI   X   X   X
C CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-4
  		52-1705592 130178X84 05-15-2013 52,773,978 SEE SCHEDULE K, PART VI   X   X   X
D CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-6
  		52-1705592 1301783W4 05-14-2014 350,002,728 SEE SCHEDULE K, PART VI   X   X   X
Part Ⅱ
Proceeds
A B C D
1 Amount of bonds retired .................. 0 0 0 0
2 Amount of bonds legally defeased .............. 0 0 0 0
3 Total proceeds of issue .................. 99,194,474 351,884,550 52,773,989 350,612,045
4 Gross proceeds in reserve funds ............. 0 0 0 0
5 Capitalized interest from proceeds ............. 0 7,095,560 0 4,390,142
6 Proceeds in refunding escrows ............... 0 0 0 0
7 Issuance costs from proceeds ............... 572,646 1,247,028 193,613 0
8 Credit enhancement from proceeds ............. 0 0 0 0
9 Working capital expenditures from proceeds ............. 0 0 0 0
10 Capital expenditures from proceeds ............. 0 337,716,685 0 342,603,940
11 Other spent proceeds ............. 98,621,828 5,825,277 52,580,376 3,617,963
12 Other unspent proceeds ............. 0 0 0 0
13 Year of substantial completion ............. 2003 2013 2003
Yes No Yes No Yes No Yes No
14 Were the bonds issued as part of a current refunding issue of tax-exempt
bonds (or, if issued prior to 2020, a current refunding issue)? ........ 		X   X     X X  
15 Were the bonds issued as part of an advance refunding issue of taxable
bonds (or, if issued prior to 2020, an advance refunding issue)? ........ 		  X   X X     X
16 Has the final allocation of proceeds been made? .......... X   X   X   X  
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? .................. X   X   X   X  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) 2021
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Schedule K (Form 990) 2021
Page 2
Part Ⅲ
Private Business Use
A B C D
Yes No Yes No Yes No Yes No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? .............       X       X
2 Are there any lease arrangements that may result in private business use of bond-financed property? ...............     X       X  
3a Are there any management or service contracts that may result in private business use of bond-financed property? .............     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  
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  
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 % 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 %
6 Total of lines 4 and 5 .............   0 %   0 %
7 Does the bond issue meet the private security or payment test? ...       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
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? .............       X       X
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  
Part Ⅳ
Arbitrage
A B C D
Yes No Yes No Yes No Yes No
1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? ...   X   X   X   X
2 If "No" to line 1, did the following apply? ....
a Rebate not due yet? .......   X   X   X   X
b Exception to rebate? ........   X   X   X   X
c No rebate due? ......... X   X   X   X  
If "Yes" to line 2c, provide in Part Ⅵ the date the rebate
computation was performed ......
3 Is the bond issue a variable rate issue? .....   X   X   X   X
Schedule K (Form 990) 2021
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Schedule K (Form 990) 2021
Page 3
Part Ⅳ
Arbitrage (Continued)
A B C D
Yes No Yes No Yes No Yes No
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?   X   X   X   X
b Name of provider .......... 0
  		0
  		0
  		0
 
c Term of hedge .........        
d Was the hedge superintegrated? ......                
e Was the hedge terminated? ........                
5a Were gross proceeds invested in a guaranteed investment contract (GIC)?   X   X   X   X
b Name of provider .......... 0
  		0
  		0
  		0
 
c Term of GIC .........        
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? ........                
6 Were any gross proceeds invested beyond an available temporary period?   X   X   X   X
7 Has the organization established written procedures to monitor the requirements of section 148? ... X   X   X   X  
Part Ⅴ
Procedures To Undertake Corrective Action
--------------------------------------------------------------------------------------------------------------- A B C D
Yes No Yes No Yes No Yes No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations? X   X   X   X  
Part Ⅵ
Supplemental Information. Provide additional information for responses to questions on Schedule K. (See instructions).
Return Reference Explanation
FORM 990, SCHEDULE K, PART I, COLUMN F DESCRIPTION OF PURPOSE FOR TAX-EXEMPT BONDS A. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-2 - REFUND TAXABLE COMMERCIAL PAPER NOTES ISSUED ON VARIOUS DATES THAT WERE USED TO REFUND TAX-EXEMPT CEFA SERIES Q ISSUED ON 5/3/2001. COSTS OF ISSUANCE. B. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-3 - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES, CAPITAL EQUIPMENT, LAND IMPROVEMENTS, UTILITIES AND SYSTEMS. REFUND CEFA TAX EXEMPT COMMERCIAL PAPER NOTES ISSUED ON VARIOUS DATES. COSTS OF ISSUANCE. C. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-4 - ADVANCE REFUND CEFA SERIES P BONDS ISSUED ON 3/30/1999 AND PAY COSTS OF ISSUANCE. D. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY U-6 - CAPITAL EXPENDITURES FOR EDUCATIONAL FACILITIES, CAPITAL EQUIPMENT, LAND IMPROVEMENTS, UTILITIES AND SYSTEMS. REFUND TAX EXEMPT COMMERCIAL PAPER NOTES ISSUED ON VARIOUS DATES.
FORM 990, SCHEDULE K, PART II, LINE 3 TOTAL PROCEEDS THE DIFFERENCE BETWEEN LINE 3 AND SCHEDULE K, PART I, COLUMN (E) AMOUNTS REPRESENTS INVESTMENT EARNINGS.
FORM 990, SCHEDULE K, PART III REFINANCING CEFA SERIES U-2 AND U-4 PROCEEDS WERE USED TO REFINANCE DEBT ISSUED PRIOR TO JANUARY 1, 2003. ACCORDINGLY, PART III IS NOT COMPLETED FOR THESE ISSUES. FORM 990, SCHEDULE K, PART III, LINES 4-5 PRIVATE BUSINESS USE STANFORD UNIVERSITY FINANCES ITS FACILITIES WITH A COMBINATION OF TAX-EXEMPT DEBT, TAXABLE DEBT, GIFTS AND OTHER UNIVERSITY FUNDS. OCCASIONALLY, SOME OF THESE FACILITIES WILL HOUSE ACTIVITIES THAT MAY CONSTITUTE "PRIVATE BUSINESS USE", AS DEFINED IN IRC SECTION 141. FOR INSTANCE, STANFORD MAY RENT A SMALL PORTION OF A FACILITY TO A FOR-PROFIT OPERATOR OF CAFETERIAS (PRIMARILY FOR THE CONVENIENCE OF FACULTY, STAFF, STUDENTS AND THEIR GUESTS). IN OTHER SITUATIONS, STANFORD MAY RECEIVE A GENEROUS CORPORATE GIFT TO FUND A PORTION OF A BUILDING AND MAY CHOOSE TO ACKNOWLEDGE SUCH GENEROSITY BY NAMING A CLASSROOM, LIBRARY OR AUDITORIUM IN HONOR OF THE CORPORATE DONOR. IN SUCH CASES, STANFORD ELECTS THE "UNDIVIDED PORTION ALLOCATION METHOD" DESCRIBED IN TREASURY REGULATION SECTION 1.141-6, AND THUS ALLOCATES SUCH "PRIVATE BUSINESS USE" FIRST TO THAT PORTION OF THE FACILITY FUNDED BY TAXABLE DEBT, GIFTS OR OTHER UNIVERSITY FUNDS. ACCORDINGLY, STANFORD REPORTS 0% AS THE PERCENTAGE OF FINANCED PROPERTY USED IN PRIVATE BUSINESS USE (PART III, QUESTION 4). IN ADDITION TO THE CONSTRUCTION COST OF BUILDINGS, TAX-EXEMPT DEBT ALSO FUNDED A SIGNIFICANT PORTION OF THE UNIVERSITY'S INFRASTRUCTURE, INCLUDING ROADS AND UNDERGROUND UTILITIES. THE PORTION OF THE FUNDING OF THESE IMPROVEMENTS BY SOURCES OTHER THAN TAX-EXEMPT DEBT AS A PERCENTAGE OF TOTAL FUNDING WAS WELL IN EXCESS OF THE MEASURED AMOUNT OF PRIVATE BUSINESS USE TO TOTAL USE. ACCORDINGLY, THE AMOUNTS REPORTED ON PART III, LINES 4 AND 5, FOR THE PERCENTAGE OF FINANCED PROPERTY USED IN PRIVATE BUSINESS USE BY OTHER ENTITIES AND AS A RESULT OF AN UNRELATED TRADE OR BUSINESS ACTIVITY, RESPECTIVELY, ARE ZERO. BOND ISSUANCE COSTS (BIC) AS A PERCENTAGE OF THE TOTAL PROCEEDS BY BOND ISSUE ARE: ISSUE: BIC% CEFA SERIES U-2 0.5773% CEFA SERIES U-3 0.3551% CEFA SERIES U-4 0.3625% CEFA SERIES U-6 0.0000%
FORM 990, SCHEDULE K, PART IV FORM 8038-T: DURING THE PERIODS SINCE THESE BONDS WERE ISSUED, THE INTEREST COST ON THE BONDS HAS EXCEEDED THE INVESTMENT RETURN ON ANY UNSPENT PROCEEDS. ACCORDINGLY, NO FORM 8038-T HAS BEEN ISSUED. FORM 990, SCHEDULE K, PART IV, LINE 2(C) REBATE CALCULATIONS A. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY SERIES U-2 HAD A REBATE CALCULATION PERFORMED ON JANUARY 19, 2016. B. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY SERIES U-3 HAD A REBATE CALCULATION PERFORMED ON JANUARY 19, 2016. C. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY SERIES U-4 HAD A REBATE CALCULATION PERFORMED ON JANUARY 19, 2016. D. CALIFORNIA EDUCATIONAL FACILITIES AUTHORITY SERIES U-6 HAD A REBATE CALCULATION PERFORMED ON JANUARY 11, 2019.
Schedule K (Form 990) 2021

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