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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
2020
Open to Public
Inspection
Name of the organization
JOHNSON & WALES UNIVERSITY
 
Employer identification number
05-0306206
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 COLORADO EDUCATIONAL AND CUTURAL FACILITIES
  		84-0896727 19645RUP4 09-18-2013 117,152,127 SERIES A: CAPITAL PROJECTS ON DENVER CAMPUS; SERIES B: REFUNDED 5 ISSUES X     X   X
B NORTH CAROLINA CAPITAL FACILITIES FINANCE AGENCY
  		56-1592154 65819GJH2 08-08-2013 42,523,473 REFUNDED NORTH CAROLINA CAPITAL FACILITIES FINANCE AGENCY 2003 REV BONDS   X   X   X
C NORTH CAROLINA CAPITAL FACILITIES FINANCE AGENCY
  		56-1592154   03-11-2014 26,502,035 PURCHASE CITY VIEW TOWERS RESIDENCE HALL ON NC CAMPUS FOR STUDENT HOUSING   X   X   X
D RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORP
  		52-1300173   09-22-2015 30,000,000 CONSTRUCT ACADEMIC BUILDING ON PROVIDENCE CAMPUS   X   X   X
Part Ⅱ
Proceeds
A B C D
1 Amount of bonds retired .................. 47,575,000 12,250,000 12,809,316 9,895,227
2 Amount of bonds legally defeased .............. 64,580,000      
3 Total proceeds of issue .................. 117,168,860 42,523,494 26,502,035 30,031,844
4 Gross proceeds in reserve funds .............        
5 Capitalized interest from proceeds ............. 2,211,638     348,800
6 Proceeds in refunding escrows ...............        
7 Issuance costs from proceeds ...............   4,665    
8 Credit enhancement from proceeds .............        
9 Working capital expenditures from proceeds .............        
10 Capital expenditures from proceeds ............. 27,807,739   26,502,035 29,682,497
11 Other spent proceeds ............. 87,149,483 42,518,829   546
12 Other unspent proceeds .............        
13 Year of substantial completion ............. 2015 2004 2014 2016
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 2019, 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 2019, 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) 2020

Schedule K (Form 990) 2020
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   X   X
2 Are there any lease arrangements that may result in private business use of bond-financed property? ............... X   X   X     X
3a Are there any management or service contracts that may result in private business use of bond-financed property? ............. X   X     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   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?                
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 0.250 % 1.100 % 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 0.040 %   0 % 0 %
6 Total of lines 4 and 5 ............. 0.290 % 1.100 % 0 % 0 %
7 Does the bond issue meet the private security or payment test? ...   X   X   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   X   X
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of. .. 7.440 %      
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? ............. 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   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) 2020

Schedule K (Form 990) 2020
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 ..........  
  		 
  		 
  		 
 
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 ..........  
  		 
  		 
  		 
 
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
DATE REBATE COMPUTATION PERFORMED ISSUER NAME: COLORADO EDUCATIONAL AND CUTURAL FACILITIES DATE THE REBATE COMPUTATION WAS PERFORMED: 03/31/2021 ISSUER NAME: NORTH CAROLINA CAPITAL FACILITIES FINANCE AGENCY DATE THE REBATE COMPUTATION WAS PERFORMED: 07/31/2021 ISSUER NAME: RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORP DATE THE REBATE COMPUTATION WAS PERFORMED: 08/31/2021
SCHEDULE K, PART I, BOND ISSUES (CONTINUED): (A) ISSUER NAME: COLORADO EDUCATIONAL AND CUTURAL FACILITIES (F) DESCRIPTION OF PURPOSE: SERIES A WAS A NEW MONEY ISSUE USED TO FUND CAPITAL PROJECTIONS ON THE DENVER CAMPUS, PROCEEDS WERE $30,002,664. SERIES B WAS A REFUNDING ISSUE THAT REFUNDED THE FOLLOWING: COLORADO EDUCATIONAL AND CULTURAL FACILITIES AUTHORITY, SERIES 2003A, $23,985,062 RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORPORATION, SERIES 2003, $20,811,689 (THE RHODE ISLAND 2003 SERIES REFUNDED 1992 AND 1993 ISSUES) RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORPORATION, SERIES 1999, $23,036,937 RHODE ISLAND HEALTH AND EDUCATIONAL BUILDING CORPORATION, SERIES 1996, $6,262,926 CITY OF NORTH MIAMI, FLORIDA, SERIES 2003A, $13,053,439 (THE NORTH MIAMI 2003 SERIES REFUNDED A 1994 ISSUE) IN JUNE 2021, THE REMAINING COLORADO BOND ISSUE WAS LEGALLY DEFEASED AS A RESULT OF THE SALE OF THE COLORADO CAMPUS TO ANOTHER 501(C)(3) ORGANIZATION. SCHEDULE K, PART II, LINE 3: THE DIFFERENCE OF THE ISSUE PRICE REPORTED IN PART I AND THE TOTAL PROCEEDS IN PART II, LINE 3 IS THE INTEREST EARNED ON THE PROJECT FUND DURING THE CONSTRUCTION PERIOD. SCHEDULE K, PART III, LINE 4, 5 AND 6 HAVE BEEN CALCULATED FOR COLORADO 2003 AND 2013A,CHARLOTTE 2003 AND 2014, AND RI 2015 ISSUES AS THESE ARE THE POST 2002 ORIGINAL ISSUES. SCHEDULE K, PART III, LINE 7, COLUMNS A, B, C AND D: AS PROVIDED IN TREASURY REGULATION SECTION 1.141-4(C)(2)(I)(B), THE AMOUNT OF PRIVATE PAYMENTS TAKEN INTO ACCOUNT UNDER THE PRIVATE PAYMENT TEST MAY NOT EXCEED THE AMOUNT OF PRIVATE BUSINESS USE AND/OR UNRELATED TRADE OR BUSINESS USE. ACCORDINGLY, THE AMOUNT OF PRIVATE PAYMENTS FOR THE REPORTING PERIOD DOES NOT EXCEED THE AMOUNT STATED IN PART III, LINE 6. THE ORGANIZATION HAS NOT UNDERTAKEN AN ANALYSIS OF THE PRIVATE SECURITY TEST WITH RESPECT TO THE BONDS, AS THE LEVEL OF PRIVATE BUSINESS USE AND OR UNRELATED TRADE OR BUSINESS USE REPORTED IN PART III, LINE 6 IS NOT IN EXCESS OF AMOUNTS PERMITTED UNDER SECTION 145 OF THE CODE. SCHEDULE K, PART III, LINE 8C, COLUMN A: PROPERTY WAS SOLD THAT THE UNIVERSITY ORIGINALLY PURCHASED WITH TAX-EXEMPT BOND PROCEEDS AND,UNDER THE ADVICE OF BOND COUNSEL, SOLD THE PROPERTY AT FAIR MARKET VALUE IN A CASH TRANSACTION AND CREATED A DEFEASANCE ESCROW TO PAY THE ALLOCABLE BONDS (BECAUSE THE BONDS WERE NOT ELIGIBLE FOR PREPAYMENT). AT THE ISSUE DATE OF THE BONDS, THE UNIVERSITY REASONABLY EXPECTED THAT 95% OF THE NET PROCEEDS OF THE ISSUE WOULD BE USED TO PROVIDE EXEMPT FACILITIES AND FOR NO OTHER PURPOSE FOR THE ENTIRE TERM OF THE BONDS, AND THE AMOUNT OF THE ISSUE WAS BASED ON REASONABLE ESTIMATES ABOUT THE COST OF THE FACILITIES PURCHASED OR IMPROVED.
Schedule K (Form 990) 2020

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