Biola University Inc.

“Executive committee: The Board of Trustees shall appoint a permanent executive committee composed of the Chair, Vice-Chair, and President as ex-officio members and three or more at-large trustees. The Executive Committee shall have the authority to act for the board.”

“The organization amended its bylaws during the year. The following significant changes were made. 1) The bylaws now clarify that trustees may receive compensation for their services as a Trustee as well as reasonable compensation or honorariums for additional services provided to the corporation beyond their duties as a Trustee. 2) The bylaws give expanded authority to the President regarding removal of certain officers.”

“The Form 990 is prepared by an independent CPA firm. The organization's Assistant Controller and staff work closely with the CPA firm it engages to prepare the return. The final draft of Form 990 is reviewed by the Vice President of Finance. Biola posts Form 990, excluding Schedule B, prior to filing, on a secure website and informs the Board of Trustees that it is available for their review.”

“The Director of Human Resources, in conjunction with the VP of Operations, is charged with monitoring proposed or ongoing transactions for conflicts of interest and addressing any potential or actual conflicts. Pursuant to the conflict of interest policy, an annual conflict of interest questionnaire, aimed at determining any family and business relationships and transactions or other transactions that may pose a potential conflict, is distributed to all covered persons (i .e. Board members, officers and executive leadership or key employees, if any). The questionnaires are completed and signed annually. If a conflict were to arise, the individual would abstain from deliberations or voting on the matter.”

“The independent board of trustees and the compensation committee reviews and determines annually the compensation for the President. Comparability data from Association of Independent California Colleges and Universities is used in this analysis. The deliberation and decision are documented in the board's minutes on September 15, 2023 for the 2024 compensation review.”

“The Committee on the President is an executive committee of the Board of Trustees which serves as the University's compensation committee. It is comprised solely of independent directors, none of which have a conflict of interest with respect to the compensation arrangements. The committee develops, consistent with the organization's philosophy and principles, the annual performance goals and the criteria to be used in determining merit increases criteria for the Vice Presidents and other officers. The full board reviews and validates these compensation arrangements and the compensation approval process is documented in the committee minutes.”

“While federal tax laws do not mandate that the organization's governing documents, conflict of interest policy, and financial statements be made available for public inspection, the organization makes its financial statements and conflicts of interest policy available on the University's website at www.biola.edu. The governing documents are available upon request.”

“Other program revenue - Total Revenue: 748534, Related or Exempt Function Revenue: 748534, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

“Misc Income - Total Revenue: 279483, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 279483;”

“(Expenses $ 93,463,423 including grants of $ 51,273,941)(Revenue $ 118,086,522) Other Academic Programs: Crowell School of Business: The Crowell School of Business prepares students academically with a foundational business education while nurturing their Christian commitment through solid biblical integration in courses and contact with faculty and staff. The mission of the Crowell School of Business is to equip students to develop a Biblical worldview so as to see business as ministry: to prepare students for excellence and leadership in their career, to be strong in mind and character, and mature in faith so that they will make an impact for God in this time and place. The Crowell School of Business offers two Bachelor's degree programs plus one Online Bachelor degree, four minors, and one Masters degree program. Degrees available include B.S. in Accounting, B.S. in Business Administration with 7 concentrations available, and Masters of Business Administration. As of Fall 2023, the Crowell School of Business's enrollment is 490 undergraduate students and 120 Masters students. Every year the Crowell School of Business hosts the Biola Startup Competition where undergraduate and graduate students, as well as recent alumni, are invited to pitch their concept for a business or nonprofit, develop a business plan, and compete for capital. In addition, every other month, the Crowell School of Business hosts the Distinguished Speaker Series, where prominent business leaders are invited to speak with students. Snyder School of Cinema & Media Arts: The Synder School of Cinema & Media Arts focuses on equipping students to serve as an observer, interpreter, and creator of mass media through a Christian worldview. There are four areas of study to select from: game design and interactive media, production, writing for the screen and entertainment producing. The School of Cinema & Media Arts is ranked by Variety as one of the 30 best film programs in the world and is ranked as the #1 Christian film school. They offer three Bachelor's degree programs, including B.A. in Cinema and Media Arts, B.A. in Writing for Film and Television, B.A. in Game Design and Interactive Media, and minor in Media Studies. As of Fall 2023, the Snyder School of Cinema & Media Arts' enrollment is 397 undergraduate students. School of Fine Arts & Communication: The School of Fine Arts and Communication is where students explore new ways to create, tell and distribute stories because every discipline taught is a channel through which students can impact the world and express their faith - with words, visuals, and sound. The programs give students the opportunity to become proficient and powerful storytellers. The School of Fine Arts and Communication offers 11 Bachelor's degree programs and 9 minors. Degrees available include B.F.A. in Studio Art, B.S. in Design, B.A. in Music, B.A. in Communication. As of Fall 2023, the School of Fine Arts & Communication's enrollment is 391 undergraduate students and 4 Masters students. School of Humanities & Social Science: The School of Humanities & Social Sciences aims to look at humankind's similar and disparate systems, beliefs, languages and cultures and to gain an understanding through the literary masterpieces of great thinkers. They provide context for traditions and folklore and let philosophy collide with history and politics, in an attempt to make sense of the world from a human perspective, as well as a biblical perspective. The School of Humanities & Social Sciences offers 6 Bachelor's degrees along with 8 minor programs. Degrees available include B.A. in English, B.A. in Political Science, and B.A. in Sociology. The School of Humanities & Social Sciences also offers the Torrey Honors College, which is Biola University's undergraduate honors program. As of Fall 2023, the School of Humanities & Social Science's enrollment is 252 undergraduate students. Talbot School of Theology: The mission of Talbot School of Theolog”

“(Expenses $ 19,041,517 including grants of $)(Revenue $ 656,268) Other Program Services: Research: Research includes various grants that Biola University has secured from third parties, which includes administration of grants, as well as the research being performed. Research also includes The Center of Marriage & Relationships which equips students, couples and churches with the tools needed to build happy, healthy friendships, relationships and marriages. Public Services: Public Services includes Biola University's Biola Youth program and a counseling center for the community. Academic Support: Academic Support includes the Provost department, the library, diversity and inclusion administration, the Registrar's office, integration of faith and learning, and faculty administration and support.”

“Change in value of split interest agreement - 467019;”

“The organization has analyzed its ownership in the foreign corporation and has determined that it does not meet the reporting requirements for Form 5471.”

“The organization has analyzed its ownership in the passive foreign investment company and has determined that it does not meet the reporting requirements for Form 8621.”