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TIN: 95-1643307
Schedule J
(Form 990)
Department of the Treasury
Internal Revenue Service
Compensation Information
For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
Complete if the organization answered "Yes" on Form 990, Part IV, line 23.
Attach to Form 990.
Go to
www.irs.gov/Form990
for instructions and the latest information.
OMB No. 1545-0047
20
19
Open to Public Inspection
Name of the organization
CALIFORNIA INSTITUTE OF TECHNOLOGY
Employer identification number
95-1643307
Part I
Questions Regarding Compensation
Yes
No
1a
Check the appropiate box(es) if the organization provided any of the following to or for a person listed on Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.
First-class or charter travel
Housing allowance or residence for personal use
Travel for companions
Payments for business use of personal residence
Tax idemnification and gross-up payments
Health or social club dues or initiation fees
Discretionary spending account
Personal services (e.g., maid, chauffeur, chef)
b
If any of the boxes on Line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain
.........
1b
Yes
2
Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked on Line 1a?
..
2
Yes
3
Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.
Compensation committee
Written employment contract
Independent compensation consultant
Compensation survey or study
Form 990 of other organizations
Approval by the board or compensation committee
4
During the year, did any person listed on Form 990, Part VII, Section A, line 1a, with respect to the filing organization or a related organization:
a
Receive a severance payment or change-of-control payment?
.............
4a
No
b
Participate in, or receive payment from, a supplemental nonqualified retirement plan?
.........
4b
Yes
c
Participate in, or receive payment from, an equity-based compensation arrangement?
.........
4c
No
If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.
Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.
5
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:
a
The organization?
....................
5a
No
b
Any related organization?
.......................
5b
No
If "Yes," on line 5a or 5b, describe in Part III.
6
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:
a
The organization?
..................
6a
No
b
Any related organization?
......................
6b
No
If "Yes," on line 6a or 6b, describe in Part III.
7
For persons listed on Form 990, Part VII, Section A, line 1a, did the organization provide any nonfixed
payments not described in lines 5 and 6? If "Yes," describe in Part III
............
7
Yes
8
Were any amounts reported on Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III
..........................
8
No
9
If "Yes" on line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)?
.........................
9
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50053T
Schedule J (Form 990) 2019
Schedule J (Form 990) 2019
Page
2
Part II
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees.
Use duplicate copies if additional space is needed.
For each individual whose compensation must be reported on Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note.
The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.
(A)
Name and Title
(B)
Breakdown of W-2 and/or 1099-MISC compensation
(C)
Retirement and other deferred compensation
(D)
Nontaxable
benefits
(E)
Total of columns
(B)(i)-(D)
(F)
Compensation in column (B) reported as deferred on prior Form 990
(i)
Base
compensation
(ii)
Bonus & incentive
compensation
(iii)
Other
reportable compensation
1
THOMAS F ROSENBAUM
PRESIDENT/TRUSTEE
(i)
(ii)
1,264,656
-------------
0
0
-------------
0
576
-------------
0
42,825
-------------
0
70,746
-------------
0
1,378,803
-------------
0
0
-------------
0
2
MATTHEW W BREWER
CONTROLLER
(i)
(ii)
281,222
-------------
0
0
-------------
0
471
-------------
0
31,625
-------------
0
37,306
-------------
0
350,624
-------------
0
0
-------------
0
3
DIANA JERGOVIC
VP STRATEGY IMPLEMENTATION
(i)
(ii)
419,934
-------------
0
100,000
-------------
0
576
-------------
0
31,625
-------------
0
11,227
-------------
0
563,362
-------------
0
0
-------------
0
4
MADELINE WAY LEE
ASST. TREAS. UNTIL 10/2019
(i)
(ii)
157,240
-------------
0
0
-------------
0
0
-------------
0
19,765
-------------
0
25,954
-------------
0
202,959
-------------
0
0
-------------
0
5
SHARON E PATTERSON
ASSOC. VP FOR FIN. & TREAS.
(i)
(ii)
387,130
-------------
0
0
-------------
0
12,000
-------------
0
31,625
-------------
0
16,128
-------------
0
446,883
-------------
0
0
-------------
0
6
SCOTT H RICHLAND
CHIEF INVESTMENT OFFICER
(i)
(ii)
539,292
-------------
0
529,713
-------------
0
19,000
-------------
0
911,575
-------------
0
36,330
-------------
0
2,035,910
-------------
0
513,000
-------------
0
7
JOSEPH E SHEPHERD
VP STUDENT AFF. UNTIL 9/20
(i)
(ii)
366,987
-------------
0
0
-------------
0
569
-------------
0
42,825
-------------
0
29,585
-------------
0
439,966
-------------
0
0
-------------
0
8
DEXTER A BAILEY
VP ADV & ALUMNI REL
(i)
(ii)
286,539
-------------
0
0
-------------
0
107,731
-------------
0
13,177
-------------
0
11,734
-------------
0
419,181
-------------
0
0
-------------
0
9
MARY L WEBSTER
SECRETARY OF BOARD OF TRUSTEES
(i)
(ii)
163,618
-------------
0
0
-------------
0
15,945
-------------
0
25,612
-------------
0
23,190
-------------
0
228,365
-------------
0
0
-------------
0
10
JENNIFER T LUM
GENERAL COUNSEL
(i)
(ii)
390,600
-------------
0
0
-------------
0
19,624
-------------
0
42,825
-------------
0
39,013
-------------
0
492,062
-------------
0
0
-------------
0
11
VICTORIA D STRATMAN
FMR. GEN. COUNS.
(i)
(ii)
375,563
-------------
0
0
-------------
0
19,384
-------------
0
28,550
-------------
0
5,212
-------------
0
428,709
-------------
0
0
-------------
0
12
MARGARET A STEURBAUT
VP ADMIN & CFO
(i)
(ii)
700,626
-------------
0
0
-------------
0
19,576
-------------
0
42,825
-------------
0
15,535
-------------
0
778,562
-------------
0
0
-------------
0
13
MICHAEL M WATKINS
VP & DIR, JPL
(i)
(ii)
565,769
-------------
0
225,225
-------------
0
19,576
-------------
0
42,825
-------------
0
14,767
-------------
0
868,162
-------------
0
0
-------------
0
14
CAROL J SCHUIL
EA TO PRES/ASST. SEC.
(i)
(ii)
219,961
-------------
0
0
-------------
0
406
-------------
0
31,518
-------------
0
21,400
-------------
0
273,285
-------------
0
0
-------------
0
15
DAVID A TIRRELL
PROVOST
(i)
(ii)
649,311
-------------
0
0
-------------
0
0
-------------
0
42,825
-------------
0
12,070
-------------
0
704,206
-------------
0
0
-------------
0
16
LARRY DEAN JAMES
DEPUTY DIRECTOR OF JPL
(i)
(ii)
471,683
-------------
0
112,857
-------------
0
25,519
-------------
0
42,825
-------------
0
2,026
-------------
0
654,910
-------------
0
0
-------------
0
17
RENE FRADET
CFO, JPL, UNTIL 7/2020
(i)
(ii)
372,490
-------------
0
10,000
-------------
0
19,576
-------------
0
42,825
-------------
0
87,044
-------------
0
531,935
-------------
0
0
-------------
0
18
PASY ISABELLA WANG
SR MG DIR OF INVESTMENTS
(i)
(ii)
351,755
-------------
0
314,876
-------------
0
19,654
-------------
0
506,625
-------------
0
39,006
-------------
0
1,231,916
-------------
0
302,250
-------------
0
19
EDWARD M STOLPER
PROFESSOR, FORMER PROVOST
(i)
(ii)
484,970
-------------
0
0
-------------
0
19,000
-------------
0
42,825
-------------
0
14,699
-------------
0
561,494
-------------
0
0
-------------
0
20
EDWARD C STONE
PROFESSOR, VICE PROVOST
(i)
(ii)
355,860
-------------
0
0
-------------
0
127,271
-------------
0
42,825
-------------
0
20,565
-------------
0
546,521
-------------
0
0
-------------
0
21
FREDERIC FARINA
CHIEF INNOV & CORP OFF
(i)
(ii)
449,200
-------------
0
0
-------------
0
19,654
-------------
0
31,625
-------------
0
21,779
-------------
0
522,258
-------------
0
0
-------------
0
22
MARC J GOETTEL
DIR. FOR BUSINESS OPS, JPL
(i)
(ii)
303,806
-------------
0
0
-------------
0
19,000
-------------
0
42,825
-------------
0
24,396
-------------
0
390,027
-------------
0
0
-------------
0
23
CHARLES ELACHI
FORMER DIRECTOR JPL, EMERITUS
(i)
(ii)
174,930
-------------
0
0
-------------
0
0
-------------
0
0
-------------
0
0
-------------
0
174,930
-------------
0
0
-------------
0
24
KEVIN M GILMARTIN
VP STUDENT AFF. AS OF 9/20
(i)
(ii)
218,275
-------------
0
0
-------------
0
420
-------------
0
33,116
-------------
0
25,588
-------------
0
277,399
-------------
0
0
-------------
0
25
DOUGLAS N MACBEAN
MANAGING DIR., INVESTMENTS
(i)
(ii)
294,484
-------------
0
207,929
-------------
0
7,250
-------------
0
31,625
-------------
0
28,170
-------------
0
569,458
-------------
0
0
-------------
0
Schedule J (Form 990) 2019
Schedule J (Form 990) 2019
Page
3
Part III
Supplemental Information
Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II. Also complete this part for any additional information.
Return Reference
Explanation
SCHEDULE J, PART I, LINE 1A
FIRST CLASS TRAVEL: PURSUANT TO A WRITTEN POLICY, FIRST CLASS OR BUSINESS TRAVEL IS PERMITTED FOR CERTAIN EMPLOYEES UNDER CERTAIN CIRCUMSTANCES FOR BUSINESS PURPOSES. DURING CALENDAR YEAR 2019, THREE OFFICERS, ONE KEY EMPLOYEE, AND ONE FORMER KEY EMPLOYEE RECEIVED FIRST CLASS OR CHARTER TRAVEL BENEFITS. TRAVEL FOR BUSINESS PURPOSES IS NOT INCLUDED IN TAXABLE WAGES. TAX INDEMNIFICATION AND GROSS UP PAYMENTS: DURING CALENDAR YEAR 2019, ONE OFFICER AND ONE HIGHEST COMPENSATED EMPLOYEE RECEIVED TAX INDEMNIFICATION AND GROSS-UP PAYMENTS. HOUSING ALLOWANCE: HOUSING ALLOWANCES ARE PROVIDED TO CERTAIN OFFICERS, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES AS PART OF THE INSTITUTE'S SALARY SUPPLEMENT HOUSING PROGRAM, WHICH IS GOVERNED BY A WRITTEN POLICY. DURING CALENDAR YEAR 2019, ONE OFFICER, ONE KEY EMPLOYEE, AND ONE HIGHEST COMPENSATED EMPLOYEE RECEIVED HOUSING ALLOWANCE BENEFITS. PAYMENTS UNDER THIS PROGRAM ARE INCLUDED IN TAXABLE WAGES. THE PRESIDENT OCCUPIES AN INSTITUTE-OWNED RESIDENCE ON ITS CAMPUS AS A CONDITION OF EMPLOYMENT FOR THE CONVENIENCE OF THE INSTITUTE. THE PRESIDENT'S NONTAXABLE BENEFITS IN SCHEDULE J, PART II, COLUMN (D) INCLUDE $40,884, AN ESTIMATE OF THE ANNUAL RENTAL VALUE OF THE PERSONAL SPACE OCCUPIED IN THAT RESIDENCE.
SCHEDULE J, PART I, LINE 4B
TERMS AND CONDITIONS OF DEFERRED PERFORMANCE COMPENSATION PLANS FOR INVESTMENT PROFESSIONALS: IN 2011, THE INSTITUTE ESTABLISHED A PERFORMANCE COMPENSATION PLAN ("PLAN") TO ASSIST WITH RECRUITMENT AND RETENTION FOR ITS INVESTMENT OFFICE. UNDER THE TERMS OF THE PLAN, PARTICIPANTS ARE ELIGIBLE FOR CERTAIN AWARDS BASED ON THE PERFORMANCE OF THE INSTITUTE'S INVESTMENT OFFICE EACH CALENDAR YEAR, AS MEASURED BY CERTAIN QUANTITATIVE AND QUALITATIVE FACTORS. IN 2017, THE "PLAN" WAS SPLIT INTO TWO SEPARATE PERFORMANCE COMPENSATIONS PLANS, ONE FOR THE CHIEF INVESTMENT OFFICER AND ONE FOR THE INVESTMENT OFFICE STAFF. DURING CALENDAR YEAR 2019, THREE INDIVIDUALS REPORTED IN SCHEDULE J, SCOTT RICHLAND, PASY WANG, AND DOUGLAS MACBEAN, RECEIVED SUCH COMPENSATION. SCOTT RICHLAND PARTICIPATES IN THE CHIEF INVESTMENT OFFICER PERFORMANCE COMPENSATION PLAN, WHILE PASY WANG AND DOUGLAS MACBEAN PARTICIPATE IN THE INVESTMENT OFFICE STAFF PERFORMANCE COMPENSATION PLAN. UNDER BOTH PLANS, 50% OF THE AWARDS ARE PAID AFTER THE CONCLUSION OF THE PLAN YEAR (WHICH COINCIDES WITH THE CALENDAR YEAR), WHILE THE REMAINING 50% OF EACH YEAR'S AWARD IS DEFERRED, VESTS AND IS PAID IN THREE ANNUAL INSTALLMENTS, AS ADJUSTED BY THE POSITIVE OR NEGATIVE PERFORMANCE OF THE ENDOWMENT EACH YEAR. IN ADDITION, UNDER CERTAIN CIRCUMSTANCES, SUBJECT TO A MINIMUM NUMBER OF YEARS OF PARTICIPATION IN THE PLAN, PREVIOUSLY DEFERRED, BUT UNVESTED AMOUNTS MAY BE PAID TO THE PARTICIPANT BASED UPON THEIR AGE AND LENGTH OF SERVICE ("SPECIAL VESTING"). NO SPECIAL VESTING OCCURRED FOR ANY PARTICIPANTS DURING CALENDAR YEAR 2019. MR. RICHLAND'S, MS. WANG'S, AND MR. MACBEAN'S INDIVIDUAL AMOUNTS IN COLUMN B(II), "BONUS AND INCENTIVE COMPENSATION," COMPRISE PLAN CASH AMOUNTS PAID PURSUANT TO THE PLANS DURING CALENDAR YEAR 2019 AND REPRESENT THE AGGREGATE OF 50% OF EACH EMPLOYEES' RESPECTIVE AWARD FROM CALENDAR YEAR 2018 AND INSTALLMENTS FROM AMOUNTS DEFERRED FROM PLAN YEARS 2015-2017. AMOUNTS IN COLUMN C NOTED AS "DEFERRED INCENTIVE COMPENSATION (EARNED IN 2019)" REPRESENT THE CALENDAR YEAR 2019 AWARDS, AND ARE SUBJECT TO FORFEITURE UNDER CERTAIN CIRCUMSTANCES. SUCH AMOUNTS WOULD BE PAID IN INSTALLMENTS, ALONG WITH PRIOR YEARS' DEFERRALS, IN CALENDAR YEAR 2020 AND BEYOND.
SCHEDULE J, PART I, LINE 7
CERTAIN INDIVIDUALS LISTED IN PART I OF SCHEDULE J RECEIVED BONUSES IN RECOGNITION OF EXCELLENT JOB PERFORMANCE OR AS A NEGOTIATED PAYMENT AT THE BEGINNING OF AN EMPLOYMENT ARRANGEMENT. BONUS RECIPIENTS' NAMES AND AMOUNTS PAID ARE SHOWN IN SCHEDULE J, PART II, COLUMN B(II). SCOTT H. RICHLAND (CHIEF INVESTMENT OFFICER), PASY I. WANG (SENIOR DIRECTOR OF INVESTMENTS), AND DOUGLAS N. MACBEAN (MANAGING DIRECTOR OF INVESTMENTS): THE INSTITUTE OFFERS PERFORMANCE-BASED COMPENSATION TO CERTAIN INVESTMENT PROFESSIONALS BASED UPON THE INSTITUTE'S INVESTMENT PERFORMANCE AND OTHER FACTORS. SEE RESPONSE TO QUESTION 4B ABOVE.
Schedule J (Form 990) 2019
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