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)
MediumBullet Do not enter social security numbers on this form as it may be made public.
MediumBullet Go to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2019
Open to Public Inspection
A For the 2019 calendar year, or tax year beginning 09-01-2019 , and ending 08-31-2020
BCheck if applicable:
CName of organization
Northwestern University
 
 
Doing business as
 
 
Number and street (or P.O. box if mail is not delivered to street address)
633 Clark St
 
Room/suite
City or town, state or province, country, and ZIP or foreign postal code
Evanston, IL60208
D Employer identification number

36-2167817
E Telephone number

G Gross receipts $ 4,618,198,957
F Name and address of principal officer:
Craig Johnson
633 Clark St
Evanston,IL60208
I
Tax-exempt status: (   ) LeftBullet (insert no.) or
J
Website:MediumBullet
www.northwestern.edu
H(a)
Is this a group return for
subordinates?
H(b)
Are all subordinates
included?
If "No," attach a list. (see instructions)
H(c)
Group exemption number MediumBullet  
K Form of organization:  
L Year of formation: 1851
M State of legal domicile: IL
Part I
Summary
Activities & Governance 1 Briefly describe the organization’s mission or most significant activities: Education and research
2 Check this box MediumBullet
3 Number of voting members of the governing body (Part VI, line 1a) ........ 3 41
4 Number of independent voting members of the governing body (Part VI, line 1b) ..... 4 39
5 Total number of individuals employed in calendar year 2019 (Part V, line 2a) ...... 5 25,657
6 Total number of volunteers (estimate if necessary) ............. 6 159
7a Total unrelated business revenue from Part VIII, column (C), line 12 ........ 7a -20,507,243
b Net unrelated business taxable income from Form 990-T, line 39 ......... 7b 0
Revenues Prior Year Current Year
8 Contributions and grants (Part VIII, line 1h) ......... 351,726,297 361,701,672
9 Program service revenue (Part VIII, line 2g) ......... 2,132,184,338 2,145,444,115
10 Investment income (Part VIII, column (A), lines 3, 4, and 7d ) .... 659,790,279 639,325,234
11 Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e) -35,403,806 -5,943,693
12 Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12) 3,108,297,108 3,140,527,328
Expenses; 13 Grants and similar amounts paid (Part IX, column (A), lines 1–3 )... 562,929,667 608,037,936
14 Benefits paid to or for members (Part IX, column (A), line 4).....   0
15 Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10) 1,439,158,601 1,455,807,659
16a Professional fundraising fees (Part IX, column (A), line 11e) ..... 319,916 230,296
b Total fundraising expenses (Part IX, column (D), line 25) MediumBullet61,923,102    
17 Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e).... 1,026,748,410 949,117,948
18 Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25) 3,029,156,594 3,013,193,839
19 Revenue less expenses. Subtract line 18 from line 12....... 79,140,514 127,333,489
Net Assets or Fund Balances; Beginning of Current Year End of Year
20 Total assets (Part X, line 16)............. 15,193,337,485 15,846,964,843
21 Total liabilities (Part X, line 26)............. 3,165,414,208 3,384,325,428
22 Net assets or fund balances. Subtract line 21 from line 20..... 12,027,923,277 12,462,639,415
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
JumboBullet
Signature of officer Date
JumboBullet
Type or print name and title
Paid Preparer Use Only
Print/Type preparer's name
Preparer's signature
Date
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) ..........
For Paperwork Reduction Act Notice, see the separate instructions.
Cat. No. 11282Y Form 990 (2019)
Form 990 (2019)
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..............
1
Briefly describe the organization’s mission: Northwestern's mission is to provide the highest-quality education for its students, to develop innovative programs in research, and to sustain an academic community that embraces these enterprises.
2
Did the organization undertake any significant program services during the year which were not listed on
the prior Form 990 or 990-EZ? .....................
If "Yes," describe these new services on Schedule O.
3
Did the organization cease conducting, or make significant changes in how it conducts, any program
services? ...........................
If "Yes," describe these changes on Schedule O.
4
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 $ 2,030,836,896 including grants of $ 486,293,464 ) (Revenue $ 1,391,685,256 )
EDUCATION OF STUDENTS: FOR THE 2020 ACADEMIC YEAR, 8,054 UNDERGRADUATES AND 9,682 GRADUATES AND PROFESSIONAL SCHOOL STUDENTS ENROLLED FULL-TIME AT THE UNIVERSITY. THE EXEMPT PURPOSE OF NORTHWESTERN UNIVERSITY IS TO PROVIDE EDUCATIONAL SERVICES TO ITS STUDENTS. THIS INCLUDES SUPERIOR UNDERGRADUATE EDUCATION FOR A DIVERSE STUDENT BODY IN A COMPREHENSIVE RANGE OF ACADEMIC AND PROFESSIONAL FIELDS. AT THE GRADUATE LEVEL, NORTHWESTERN'S ROLE ENCOMPASSES OFFERINGS IN THE MAJOR ACADEMIC AND PROFESSIONAL FIELDS, CLOSELY RELATED TO RESEARCH, CREATIVE ACTIVITIES, AND CLINICAL SERVICES.
4b (Code:   ) (Expenses $ 549,636,000 including grants of $ 121,744,472 ) (Revenue $ 687,995,677 )
RESEARCH ACTIVITIES: THE RESEARCH PROGRAM AT NORTHWESTERN UNIVERSITY IS A MAJOR COMPONENT OF UNIVERSITY EFFORTS, ASSURING INSTITUTIONAL LEADERSHIP IN SCIENTIFIC DISCOVERY, INTELLECTUAL INQUIRY, AND CREATIVE PERFORMANCE. THE CHARACTER OF THIS RESEARCH SHAPES ALL AREAS OF UNIVERSITY ENDEAVOR, ESPECIALLY GRADUATE EDUCATION AS WELL AS UNDERGRADUATE STUDIES.
4c (Code:   ) (Expenses $ 140,005,006 including grants of $   ) (Revenue $ 69,658,185 )
AUXILIARY ENTERPRISES SERVE THE EDUCATIONAL MISSION BY PRIMARILY PROVIDING RESIDENCES AND FOOD SERVICES, AND OTHER VARIOUS GOODS AND SERVICES TO SUPPORT UNIVERSITY STUDENT, FACULTY, AND STAFF ACTIVITIES.
4d Other program services (Describe in Schedule O.)
(Expenses $   including grants of $   ) (Revenue $   )
4e Total program service expensesMediumBullet2,720,477,902
Form 990 (2019)
Form 990 (2019)
Page 3
Part IV
Checklist of Required Schedules
Yes
No
1
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)? If "Yes," complete Schedule A.....................
1
Yes
 
2
Is the organization required to complete Schedule B, Schedule of Contributors (see instructions)? ...
2
Yes
 
3
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.............
3
 
No
4
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.........
4
Yes
 
5
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..
5
 
 
6
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.........................
6
Yes
 
7
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....
7
 
No
8
Did the organization maintain collections of works of art, historical treasures, or other similar assets? If "Yes,"
complete Schedule D, Part III..............
8
Yes
 
9
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..............
9
Yes
 
10
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......
10
Yes
 
11
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.
a
Did the organization report an amount for land, buildings, and equipment in Part X, line 10? If "Yes," complete
Schedule D, Part VI. ...................
11a
Yes
 
b
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.......
11b
Yes
 
c
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.......
11c
 
No
d
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............
11d
 
No
e
Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, Part X
11e
Yes
 
f
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
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......................
12a
 
No
b
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
12b
Yes
 
13
Is the organization a school described in section 170(b)(1)(A)(ii)? If "Yes," complete Schedule E
13
Yes
 
14a
Did the organization maintain an office, employees, or agents outside of the United States? .....
14a
Yes
 
b
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.........
14b
Yes
 
15
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.....
15
Yes
 
16
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...
16
Yes
 
17
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) ....
17
Yes
 
18
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............
18
Yes
 
19
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...................
19
 
No
20a
Did the organization operate one or more hospital facilities? If "Yes," complete Schedule H....
20a
 
No
b
If "Yes" to line 20a, did the organization attach a copy of its audited financial statements to this return?
20b
 
 
21
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.....
21
Yes
 
Form 990 (2019)
Form 990 (2019)
Page 4
Part IV
Checklist of Required Schedules (continued)
Yes
No
22
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........
22
Yes
 
23
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.......................
23
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...............
24a
Yes
 
b
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?...
24b
 
No
c
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
 
No
d
Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year?...
24d
 
No
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 ....
25a
 
No
b
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.......................
25b
 
No
26
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...........
26
Yes
 
27
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.........................
27
Yes
 
28
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
A current or former officer, director, trustee, key employee, creator or founder, or substantial contributor? If "Yes," complete Schedule L, Part IV......................
28a
 
No
b
A family member of any individual described in line 28a? If "Yes," complete Schedule L, Part IV.....
28b
Yes
 
c
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
Yes
 
29
Did the organization receive more than $25,000 in non-cash contributions? If "Yes," complete Schedule M..
29
Yes
 
30
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions? If "Yes," complete Schedule M .................
30
Yes
 
31
Did the organization liquidate, terminate, or dissolve and cease operations? If "Yes," complete Schedule N, Part I
31
 
No
32
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If "Yes," complete Schedule N, Part II........................
32
 
No
33
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............
33
Yes
 
34
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.........................
34
Yes
 
35a
Did the organization have a controlled entity within the meaning of section 512(b)(13)?
35a
Yes
 
b
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 ...
35b
Yes
 
36
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.............
36
 
No
37
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
37
 
No
38
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. ............
38
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
No
1a
Enter the number reported in Box 3 of Form 1096. Enter -0- if not applicable ..
1a
24,091
b
Enter the number of Forms W-2G included in line 1a. Enter -0- if not applicable .
1b
0
c
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners? ..................
1c
Yes
 
Form 990 (2019)
Form 990 (2019)
Page 5
Part V
Statements Regarding Other IRS Filings and Tax Compliance (continued)
2a
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 ..................
2a
25,657
b
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)
2b
Yes
 
3a
Did the organization have unrelated business gross income of $1,000 or more during the year?...
3a
Yes
 
b
If “Yes,” has it filed a Form 990-T for this year? If “No” to line 3b, provide an explanation in Schedule O...
3b
Yes
 
4a
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)? ..
4a
Yes
 
b
If "Yes," enter the name of the foreign country: MediumBulletQA , UK
See instructions for filing requirements for FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR).
5a
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year? ..
5a
 
No
b
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?
5b
 
No
c
If "Yes," to line 5a or 5b, did the organization file Form 8886-T? ............
5c
 
 
6a
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? ...
6a
 
No
b
If "Yes," did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible? ......................
6b
 
 
7
Organizations that may receive deductible contributions under section 170(c).
a
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? ....................
7a
Yes
 
b
If "Yes," did the organization notify the donor of the value of the goods or services provided? .....
7b
Yes
 
c
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282? .........................
7c
 
No
d
If "Yes," indicate the number of Forms 8282 filed during the year ....
7d
 
e
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?
7e
 
No
f
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract? ..
7f
 
No
g
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required? ......................
7g
 
 
h
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C? ..........................
7h
 
 
8
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? ........
8
 
No
9
Sponsoring organizations maintaining donor advised funds.
a
Did the sponsoring organization make any taxable distributions under section 4966?........
9a
 
No
b
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?...
9b
 
No
10
Section 501(c)(7) organizations. Enter:
a
Initiation fees and capital contributions included on Part VIII, line 12 ...
10a
 
b
Gross receipts, included on Form 990, Part VIII, line 12, for public use of club facilities
10b
 
11
Section 501(c)(12) organizations. Enter:
a
Gross income from members or shareholders .........
11a
 
b
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
 
 
b
If "Yes," enter the amount of tax-exempt interest received or accrued during the year.
12b
 
13
Section 501(c)(29) qualified nonprofit health insurance issuers.
a
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
 
 
b
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
 
c
Enter the amount of reserves on hand ............
13c
 
14a
Did the organization receive any payments for indoor tanning services during the tax year?.....
14a
 
No
b
If "Yes," has it filed a Form 720 to report these payments? If "No," provide an explanation in Schedule O..
14b
 
 
15
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.
15
Yes
 
16
Is the organization an educational institution subject to the section 4968 excise tax on net investment income? ..
If "Yes," complete Form 4720, Schedule O.
16
Yes
 
Form 990 (2019)
Form 990 (2019)
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
No
1a
Enter the number of voting members of the governing body at the end of the tax year
1a
41
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.
b
Enter the number of voting members included in line 1a, above, who are independent
1b
39
2
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? .................
2
Yes
 
3
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? .
3
 
No
4
Did the organization make any significant changes to its governing documents since the prior Form 990 was filed? .
4
 
No
5
Did the organization become aware during the year of a significant diversion of the organization’s assets? .
5
 
No
6
Did the organization have members or stockholders? ................
6
 
No
7a
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? ....................
7a
 
No
b
Are any governance decisions of the organization reserved to (or subject to approval by) members, stockholders, or persons other than the governing body? ...................
7b
 
No
8
Did the organization contemporaneously document the meetings held or written actions undertaken during the year by the following:
a
The governing body? .......................
8a
Yes
 
b
Each committee with authority to act on behalf of the governing body? ............
8b
Yes
 
9
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.......
9
 
No
Section B. Policies (This Section B requests information about policies not required by the Internal Revenue Code.)
Yes
No
10a
Did the organization have local chapters, branches, or affiliates? ............
10a
 
No
b
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
 
b
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
 
b
Were officers, directors, or trustees, and key employees required to disclose annually interests that could give rise to conflicts? ..........................
12b
Yes
 
c
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
 
13
Did the organization have a written whistleblower policy? ...............
13
Yes
 
14
Did the organization have a written document retention and destruction policy? .........
14
Yes
 
15
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?
a
The organization’s CEO, Executive Director, or top management official ...........
15a
Yes
 
b
Other officers or key employees of the organization ................
15b
 
No
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
 
b
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
 
No
Section C. Disclosure
17
List the states with which a copy of this Form 990 is required to be filedMediumBullet
CA , MD , MA , MI , NH , OR , SC
18
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.
19
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.
20
State the name, address, and telephone number of the person who possesses the organization's books and records:
MediumBulletNicole Van Laan Controller619 Clark St   Evanston,IL60208 (847) 491-4722
Form 990 (2019)
Form 990 (2019)
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.

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

RoundBullet 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.

RoundBullet 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
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(1) A Steven Crown
 
Trustee
 1.0
.................
  		X           0 0 0
(2) Adam Karr
 
Trustee
 1.0
.................
  		X           0 0 0
(3) Andrew E Senyei MD
 
Trustee
 1.0
.................
  		X           0 0 0
(4) Charles A Tribbett III
 
Trustee
 1.0
.................
  		X           0 0 0
(5) Christine E Brennan
 
Trustee
 1.0
.................
  		X           0 0 0
(6) Christopher B Galvin
 
Trustee
 1.0
.................
  		X           0 0 0
(7) D Cameron Findlay
 
Trustee
 1.0
.................
  		X           0 0 0
(8) David A Sachs
 
Trustee
 1.0
.................
  		X           0 0 0
(9) David B Weinberg
 
Trustee
 1.0
.................
  		X           0 0 0
(10) Deborah L DeHaas
 
Trustee
 1.0
.................
  		X           0 0 0
(11) Dennis J FitzSimons
 
Trustee
 1.0
.................
  		X           0 0 0
(12) E Scott Santi
 
Trustee
 1.0
.................
  		X           0 0 0
(13) Ellen Kullman
 
Trustee
 1.0
.................
  		X           0 0 0
(14) Frederick H Waddell
 
Trustee
 1.0
.................
  		X           0 0 0
(15) Gwenn E Shotwell
 
Trustee
 1.0
.................
  		X           0 0 0
(16) H Patrick Hackett Jr
 
Trustee
 1.0
.................
  		X           0 0 0
(17) Harreld N Kirkpatrick III
 
Trustee
 1.0
.................
  		X           0 0 0
Form 990 (2019)
Form 990 (2019)
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
Individual Trustee or Director; Institutional Trustee; OfficerInd; Key Employee; Highest compensated employee; FormerOfcrDirectorTrusteeInd;
(18) J Landis Martin
 
Trustee
 1.0
.......................   		X           0 0 0
(19) James A DeNaut
 
Trustee
 1.0
.......................   		X           0 0 0
(20) Jane DiRenzo Pigott
 
Trustee
 1.0
.......................   		X           0 0 0
(21) Jay C Hoag
 
Trustee
 1.0
.......................   		X           0 0 0
(22) Jeffrey W Ubben
 
Trustee
 1.0
.......................   		X           0 0 0
(23) Kimberly Querrey
 
Trustee
 1.0
.......................   		X           0 0 0
(24) Lynn Hopton Davis
 
Trustee
 1.0
.......................   		X           0 0 0
(25) M Jude Reyes
 
Trustee
 1.0
.......................   		X           0 0 0
(26) Michael S Shannon
 
Trustee
 1.0
.......................   		X           0 0 0
(27) Miles D White
 
Trustee
 1.0
.......................   		X           0 0 0
(28) Milton M Morris
 
Trustee
 1.0
.......................   		X           0 0 0
(29) Muneer A Satter
 
Trustee
 1.0
.......................   		X           0 0 0
(30) Nancy Trienens Kaehler
 
Trustee
 1.0
.......................   		X           0 0 0
(31) Patrick G Ryan Jr
 
Trustee
 1.0
.......................   		X           0 0 0
(32) Paul Schneider
 
Trustee
 1.0
.......................   		X           0 0 0
(33) Paula Pretlow
 
Trustee
 1.0
.......................   		X           0 0 0
(34) Peter J Barris
 
Trustee
 1.0
.......................   		X           0 0 0
(35) Purnima Puri
 
Trustee
 1.0
.......................   		X           0 0 0
(36) Steven Cahillane
 
Trustee
 1.0
.......................   		X           0 0 0
(37) T Bondurant French
 
Trustee
 1.0
.......................   		X           0 0 0
(38) Timothy P Sullivan
 
Trustee
 1.0
.......................   		X           0 0 0
(39) Virginia Rometty
 
Trustee
 1.0
.......................   		X           0 0 0
(40) Wendy M Nelson
 
Trustee
 1.0
.......................   		X           0 0 0
(41) William A Osborn
 
Trustee
 1.0
.......................   		X           0 0 0
(42) Alex Darragh
 
VP for Facilities Management
 40.0
.......................   		    X       606,088 0 373
(43) Craig A Johnson
 
Senior Vice President
 40.0
.......................   		    X       1,251,525 0 84,315
(44) Devora Grynspan
 
VP International Relations
 40.0
.......................   		    X       248,775 0 35,681
(45) Eric G Neilson
 
VP Medical Affairs
 30.0
.......................   		    X       612,833 0 24,809
(46) James J Phillips
 
VP Athletics
 40.0
.......................   		    X       1,874,717 0 343,902
(47) Jeri Ward
 
VP Global Marketing
 40.0
.......................   		    X       496,842 0 21,435
(48) Jonathan Holloway
 
Provost
 40.0
.......................   		    X       803,879 0 147,832
(49) Joseph T Walsh Jr
 
VP for Research
 40.0
.......................   		    X       410,906 0 102,352
(50) Julie Payne-Kirchmeier
 
VP for Student Affairs
 40.0
.......................   		    X       302,260 0 29,353
(51) Kathleen M Hagerty
 
Provost
 40.0
.......................   		    X       559,481 0 31,298
(52) Manuel Cuevas-Trisan
 
VP for Human Resources
 40.0
.......................   		    X       1,534 0 0
(53) Marilyn McCoy
 
VP Administration & Planning
 40.0
.......................   		    X       481,208 0 52,641
(54) Milan Mrksich
 
VP Research
 40.0
.......................   		    X       506,245 0 39,646
(55) Morton O Schapiro
 
President
 40.0
.......................   		    X       1,710,877 0 599,580
(56) Paul Castellucci
 
VP Budget and Planning
 40.0
.......................   		    X       438,240 0 28,746
(57) Priya Harjani
 
Interim VP for Human Resources
 40.0
.......................   		    X       485,223 0 26,709
(58) Robert E McQuinn
 
VP for Development
 40.0
.......................   		    X       957,476 0 243,938
(59) Sean Reynolds
 
VP and Chief Information Officer
 40.0
.......................   		    X       531,703 0 36,114
(60) Stephanie Graham
 
VP General Counsel
 40.0
.......................   		    X       688,390 0 121,992
(61) William H McLean
 
VP and Chief Investment Officer
 40.0
.......................   		    X       1,459,355 0 432,428
(62) Chad A Mirkin
 
Professor, Chemistry
 40.0
.......................   		        X   1,255,388 0 180,802
(63) Christopher R Collins
 
Head Coach
 40.0
.......................   		        X   3,201,770 0 60,755
(64) Florian Zettelmeyer
 
Professor, Kellogg
 40.0
.......................   		        X   1,584,377 0 36,114
(65) Maciej S Lesniak
 
Professor, Neurological Surgery
 35.0
.......................   		        X   1,596,123 0 28,746
(66) Patrick W Fitzgerald II
 
Head Coach
 40.0
.......................   		        X   5,687,201 0 60,978
(67) Alan Cubbage
 
Former VP University Relations
 0.0
.......................   		          X 290,282 0 10,712
(68) Ingrid S Stafford
 
Former VP for Financial Operations
 40.0
.......................   		          X 279,412 0 27,588
(69) Pamela S Beemer
 
Former VP for Human Resources
 0.0
.......................   		          X 437,606 0 32,750
(70) Patricia Telles-Irvin
 
Deceased former VP Student Aff
 0.0
.......................   		          X 303,561 0 25,263
(71) Philip L Harris
 
Former VP General Counsel
 0.0
.......................   		          X 1,366,650 0 1,596
1b Sub-Total................MediumBullet
c Total from continuation sheets to Part VII, Section A....MediumBullet
d Total (add lines 1b and 1c)...........MediumBullet 30,429,927 0 2,868,448
2
Total number of individuals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization MediumBullet3,597
Yes
No
3
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 ..............
3
Yes
 
4
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...........................
4
Yes
 
5
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 ........
5
Yes
 
Section B. Independent Contractors
1
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
THE FAMILY INSTITUTE

618 Library Pl
Evanston,IL60201 		Instruction services 25,109,213
NORTHWESTERN MEMORIAL HOSPITAL

251 East Huron
Chicago,IL60611 		Clinical services 4,199,594
ALLIED UNIVERSAL SECURITY SERVICES

161 Washington St
Conshohocken,PA19428 		Security services 2,875,578
THE FREE ENTERPRISE SYSTEM INC

One Sodrel Drive
Jeffersonville,IN47130 		Transportation services 2,616,926
LSVAsset Management

155 North Wacker Drive
Chicago,IL60606 		Investment services 1,788,630
2
Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization MediumBullet400
Form 990 (2019)
Form 990 (2019)
Page 9
Part VIII
Statement of Revenue
Check if Schedule O contains a response or note to any line in this Part VIII.............
(A)
Total revenue 		(B)
Related or
exempt
function
revenue 		(C)
Unrelated
business
revenue 		(D)
Revenue
excluded from
tax under sections
512 - 514
Contributions, Gifts, GrantAmt and OtherAmt Similar Amounts 1a Federated campaigns..1a  
b Membership dues..1b  
c Fundraising events..1c 2,409,853
d Related organizations1d  
e Government grants (contributions)1e 31,126,288
f All other contributions, gifts, grants, and similar amounts not included above1f 328,165,531
g Noncash contributions included in lines 1a - 1f:$ 1g 25,954,565
h Total. Add lines 1a-1f.......MediumBullet 361,701,672
Program Service RevenueAmt Business Code
2a Tuition and fees 611310 1,174,043,519 1,174,043,519    
b Research activities 611310 687,995,677 687,995,677    
c Educational activities 611310 155,254,080 155,254,080    
d Auxiliary enterprises 611310 45,969,378 45,969,378    
e Medical activities 611310 69,658,185 69,658,185    
f All other program service revenue. 12,523,276 12,523,276 0 0
g Total. Add lines 2a–2f .....MediumBullet 2,145,444,115
OtherAmtRevenueAmt 3 Investment income (including dividends, interest, and othersimilar amounts) ......MediumBullet 56,312,977 5,935,008   50,377,969
4 Income from investment of tax-exempt bond proceedsMediumBullet        
5 Royalties...........MediumBullet 14,234,018   1,481,846 12,752,172
(ii) Personal (i) Real
6a Gross rents   2,272,282 6a
b Less: rental expenses   494,715 6b
c Rental income or (loss) 0 1,777,567 6c
d Net rental income or (loss).......MediumBullet 1,777,567     1,777,567
(ii) Other (i) Securities
7a Gross amount from sales of assets other than inventory 1,318,006,176 741,938,844 7a
b Less: cost or other basis and sales expenses 787,490,442 689,442,321 7b
c Gain or (loss) 530,515,734 52,496,523 7c
d Net gain or (loss).........MediumBullet 583,012,257 -2,040,005   585,052,262
8a Gross income from fundraising events (not including $ 2,409,853of contributions reported on line 1c). See Part IV, line 18 ....
8a 277,962
b Less: direct expenses ... 8b 244,151
c Net income or (loss) from fundraising events..MediumBullet 33,811   33,811
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..MediumBullet        
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..MediumBullet        
Business Code Miscellaneous Revenue
11a Investment in LPs 523920 -28,219,122   -28,219,122  
b Parking facilities 812930 3,436,697   3,436,697  
c Scientific services/rental 541990 2,563,912   2,563,912  
d All other revenue .... 229,424 0 229,424 0
e Total. Add lines 11a–11d ...... MediumBullet -21,989,089
12 Total revenue. See instructions.....MediumBullet 3,140,527,328 2,149,339,118 -20,507,243 649,993,781
Form 990 (2019)
Form 990 (2019)
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 .... 90,618,184 90,618,184
2 Grants and other assistance to domestic individuals. See Part IV, line 22 ........... 510,318,198 510,318,198
3 Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16. ............. 7,101,554 7,101,554
4 Benefits paid to or for members .......    
5 Compensation of current officers, directors, trustees, and key employees ........... 15,733,697 6,223,922 8,562,607 947,168
6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ......... 1,261,408   1,261,408  
7 Other salaries and wages........ 1,168,002,080 1,090,749,878 40,003,204 37,248,998
8 Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) .... 64,950,565 59,527,331 2,918,803 2,504,431
9 Other employee benefits ....... 134,459,286 123,160,882 6,080,840 5,217,564
10 Payroll taxes ........... 71,400,623 65,525,453 3,162,037 2,713,133
11 Fees for services (non-employees):        
a Management ......        
b Legal ......... 4,936,563   4,936,563  
c Accounting ........... 1,405,010 0 1,405,010  
d Lobbying ........... 235,657   235,657  
e Professional fundraising services. See Part IV, line 17 230,296 230,296
f Investment management fees ...... 43,212,619   43,212,619  
g Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) 225,795,298 220,031,377 2,820,677 2,943,244
12 Advertising and promotion .... 19,107,144 14,004,675 611,923 4,490,546
13 Office expenses ....... 142,933,517 137,677,731 3,264,527 1,991,259
14 Information technology ...... 38,099,311 37,000,421 755,323 343,567
15 Royalties .. 4,416,728 4,416,728    
16 Occupancy ........... 103,398,317 100,619,065 2,024,911 754,341
17 Travel ............ 32,601,310 31,693,781 238,937 668,592
18 Payments of travel or entertainment expenses for any federal, state, or local public officials .        
19 Conferences, conventions, and meetings .... 20,522,876 19,785,165 495,836 241,875
20 Interest ........... 93,894,368   93,894,368  
21 Payments to affiliates .......        
22 Depreciation, depletion, and amortization .. 181,647,533 168,814,203 11,696,849 1,136,481
23 Insurance ...        
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 Athletics 5,874,854 5,874,854    
b Membership fees 4,065,999 3,217,072 829,255 19,672
c Revenue refunds 4,061,707 4,059,474 2,233  
d Various taxes 3,594,959 1,581,284 1,994,408 19,267
e All other expenses 19,314,178 18,476,670 384,840 452,668
25 Total functional expenses. Add lines 1 through 24e 3,013,193,839 2,720,477,902 230,792,835 61,923,102
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 MediumBullet if following SOP 98-2 (ASC 958-720).        
Form 990 (2019)
Form 990 (2019)
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
Assets 1 Cash–non-interest-bearing ........   1  
2 Savings and temporary cash investments ......... 234,804,226 2 551,957,741
3 Pledges and grants receivable, net ...... 293,705,037 3 277,871,276
4 Accounts receivable, net ............. 199,535,132 4 210,086,693
5 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 .......
300,000 5 375,439
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) ...
0 6 0
7 Notes and loans receivable, net ........... 15,012,614 7 15,324,600
8 Inventories for sale or use ............ 1,862,202 8 1,451,697
9 Prepaid expenses and deferred charges ...... 9,831,020 9 3,241,108
10a Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D 10a 5,375,247,174
b Less: accumulated depreciation 10b 2,116,553,670 3,320,362,566 10c 3,258,693,504
11 Investments—publicly traded securities . 1,638,201,142 11 1,718,765,787
12 Investments—other securities. See Part IV, line 11 ..... 9,351,050,080 12 9,678,334,679
13 Investments—program-related. See Part IV, line 11 .. 128,663,282 13 130,852,135
14 Intangible assets ...............   14  
15 Other assets. See Part IV, line 11 ........... 10,184 15 10,184
16 Total assets. Add lines 1 through 15 (must equal line 33)... 15,193,337,485 16 15,846,964,843
Liabilities 17 Accounts payable and accrued expenses ..... 186,257,985 17 198,476,172
18 Grants payable ...   18  
19 Deferred revenue ......... 231,456,046 19 137,756,856
20 Tax-exempt bond liabilities ......... 398,615,006 20 397,593,724
21 Escrow or custodial account liability. Complete Part IV of Schedule D 38,810,296 21 33,488,687
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 .........
0 22 0
23 Secured mortgages and notes payable to unrelated third parties .. 315,197,471 23 7,864,727
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 1,995,077,404 25 2,609,145,262
26 Total liabilities. Add lines 17 through 25.. 3,165,414,208 26 3,384,325,428
Net Assets or Fund Balance Organizations that follow FASB ASC 958, check here MediumBullet and complete lines 27, 28, 32, and 33.
27 Net assets without donor restrictions .......... 7,471,358,315 27 7,783,378,376
28 Net assets with donor restrictions ........... 4,556,564,962 28 4,679,261,039
Organizations that do not follow FASB ASC 958, check here MediumBullet 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 ........... 12,027,923,277 32 12,462,639,415
33 Total liabilities and net assets/fund balances ........ 15,193,337,485 33 15,846,964,843
Form 990 (2019)
Form 990 (2019)
Page 12
Part XI
Reconcilliation of Net Assets
Check if Schedule O contains a response or note to any line in this Part XI..............
1
Total revenue (must equal Part VIII, column (A), line 12) ............
1
3,140,527,328
2
Total expenses (must equal Part IX, column (A), line 25) ............
2
3,013,193,839
3
Revenue less expenses. Subtract line 2 from line 1 ..............
3
127,333,489
4
Net assets or fund balances at beginning of year (must equal Part X, line 32, column (A)) ..
4
12,027,923,277
5
Net unrealized gains (losses) on investments ...............
5
307,789,641
6
Donated services and use of facilities .................
6
 
7
Investment expenses .....................
7
 
8
Prior period adjustments .....................
8
 
9
Other changes in net assets or fund balances (explain in Schedule O) ........
9
-406,992
10
Net assets or fund balances at end of year. Combine lines 3 through 9 (must equal Part X, line 32, column (B))
10
12,462,639,415
Part XII
Financial Statements and Reporting
Check if Schedule O contains a response or note to any line in this Part XII.............
Yes
No
1
Accounting method used to prepare the Form 990:  
If the organization changed its method of accounting from a prior year or checked "Other," explain in
Schedule O.
2a
Were the organization’s financial statements compiled or reviewed by an independent accountant?
2a
 
No
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:
b
Were the organization’s financial statements audited by an independent accountant?
2b
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:
c
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?
2c
Yes
 
If the organization changed either its oversight process or selection process during the tax year, explain in Schedule O.
3a
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?
3a
Yes
 
b
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.
3b
Yes
 
Form 990 (2019)
Form 990 (2019)
Additional Data


Software ID: 19010655
Software Version: 2019v5.0
Form 990, Special Condition Description:
Special Condition Description