Villanova University

Form 990, Part I, Line 6

“THE TOTAL NUMBER OF VOLUNTEERS IS BASED UPON A REPORTED COUNT OF INDIVIDUALS (FACULTY, STAFF, STUDENTS, ALUMNI AND OTHERS) WHO HAVE ACTIVELY PARTICIPATED IN ONE OR MORE PROJECTS THROUGHOUT THE FISCAL YEAR. IN WHICH CASE, EACH OF THEIR ACTIVITIES WOULD BE COUNTED SEPARATELY IN THE TOTAL REPORTED. PART III, LINE 4D AUXILIARY ENTERPRISES EXPENSES: $ 62,327,878 GRANTS & ALLOCATIONS: $ 104,185 REVENUE: $ 75,500,177 ACADEMIC SUPPORT EXPENSES: $ 56,493,227 GRANTS & ALLOCATIONS: $ 7,597,805 REVENUE: $ 1,016,056 INSTITUTIONAL SUPPORT EXPENSES: $ 35,363,635 GRANTS & ALLOCATIONS: $ 42,050 REVENUE: $ 189,575 RESEARCH EXPENSES: $ 6,671,363 GRANTS & ALLOCATIONS: $ 37,944 REVENUE: $ 0 O&M OF PLANT EXPENSES: $ 0 GRANTS AND ALLOCATIONS: $ 0 REVENUE: $ 1,120,644 FORM 990, PART XI, LINE 9 ADJUSTMENT FOR PENSION PLAN LIABILITY: $ 4,313,317 OTHER COMPONENTS OF NET PERIODIC PENSION COST: $ 2,810,921 BOOK TAX DIFFERENCE WITH RESPECT TO PARTNERSHIP INVESTMENT $ 13,320 ROUNDING ADJUSTMENT: $ 1 FORM 990, PART VI, LINE 2 MR. THOMAS M. MULROY AND MR. ROBERT J. McCARTHY - BUSINESS RELATIONSHIP FORM 990, PART VI, LINE 11B THE FORM 990 IS PREPARED INTERNALLY BY THE OFFICE OF FINANCIAL AFFAIRS. IT IS REVIEWED BY THE OFFICE OF THE VICE PRESIDENT AND GENERAL COUNSEL AND A NATIONALLY RECOGNIZED ACCOUNTING FIRM BEFORE THE FORM 990 IS FILED. AFTER THE PUBLIC ACCOUNTING FIRM REVIEWS THE FORM, IT IS PROVIDED TO THE STEWARDSHIP COMMITTEE OF THE BOARD OF TRUSTEES AND TO THE FULL BOARD OF TRUSTEES SHORTLY BEFORE FILING. FORM 990, PART VI, LINE 12C THE BOARD OF TRUSTEES, IN COLLABORATION WITH THE OFFICE OF THE VICE PRESIDENT AND GENERAL COUNSEL (OVPGC) REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE WITH THE UNIVERSITY'S CONFLICT OF INTEREST POLICY. IN ACCORDANCE WITH THE POLICY, THE OVPGC DISTRIBUTES THE POLICY AND CONFLICT OF INTEREST DISCLOSURE FORMS ANNUALLY TO TRUSTEES, OFFICERS, KEY EMPLOYEES AND ANY OTHER INTERESTED PERSONS WHO ARE INSTRUCTED TO COMPLETE AND RETURN THE FORMS AND TO UPDATE THE FORMS DURING THE YEAR, AS NECESSARY. THE OVPGC SUMMARIZES ANY POTENTIAL CONFLICTS, FOR REVIEW BY THE TRUSTEE COMMITTEE, TO ENSURE COMPLIANCE WITH THE POLICY. THE TRUSTEE COMMITTEE DISCUSSES THE DISCLOSURES AT THE MEETING WHICH INCLUDES THE COMMITTEE MEMBERS AND THE OVPGC. THE UNIVERSITY'S EXTERNAL AUDITORS ALSO REVIEW A SAMPLE OF THE DISCLOSURE FORMS AS PART OF THEIR AUDIT PROCEDURES. FORM 990, PART VI, LINE 15 THE HUMAN RESOURCES OFFICE OBTAINS COMPARABILITY DATA FROM PROFESSIONAL ORGANIZATIONS FOR THE COMPENSATION OF THE OFFICERS AND KEY EMPLOYEES OF THE UNIVERSITY, INCLUDING THE AMOUNT THE UNIVERSITY REMITS TO THE ORDER OF ST. AUGUSTINE FOR SERVICES PROVIDED BY THE PRESIDENT. USING THIS COMPENSATION DATA AND ANNUAL PERFORMANCE ASSESSMENTS, THE PRESIDENT ANNUALLY DETERMINES PROPOSED SALARIES FOR ALL OFFICERS AND KEY EMPLOYEES. THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD, AN INDEPENDENT COMMITTEE CONSISTING OF TRUSTEES ONLY, NONE OF WHOM ARE EMPLOYED BY THE UNIVERSITY, DETERMINES THE AMOUNT THE UNIVERSITY REMITS TO THE ORDER OF ST. AUGUSTINE FOR SERVICES PROVIDED BY THE PRESIDENT ON AN ANNUAL BASIS, BASED ON THE COMPARABILITY DATA PROVIDED BY THE HUMAN RESOURCES OFFICE AND ITS ASSESSMENT OF THE PRESIDENT'S PERFORMANCE. THE PRESIDENT DOES NOT PARTICIPATE IN THE APPROVAL OF HIS OWN SALARY. THE COMMITTEE ALSO REVIEWS AND APPROVES THE SALARIES PROPOSED BY THE PRESIDENT FOR THE OFFICERS AND KEY EMPLOYEES. THE DECISIONS REACHED BY THE EXECUTIVE COMPENSATION COMMITTEE AT ITS ANNUAL MEETING ARE RECORDED IN A DOCUMENT APPROVED BY THE CHAIR OF THE COMMITTEE AT OR SHORTLY AFTER THE MEETING OF THE COMMITTEE. FORM 990, PART VI, LINE 19 VILLANOVA UNIVERSITY MAKES ITS FINANCIAL STATEMENTS AND CONFLICT OF INTEREST POLICY READILY AVAILABLE TO THE PUBLIC THROUGH THE UNIVERSITY'S WEBSITE. THE FORM 990 IS AVAILABLE TO THE PUBLIC UPON REQUEST. THE UNIVERSITY'S GOVERNING DOCUMENTS ARE NOT MADE PUBLICLY AVAILABLE. FORM 990 PART VII PAYMENT IS MADE DIRECTLY TO THE ORDER OF ST. A”