2024-06-13T17:23:27-05:00 2023-07-31 135565207 KPMG LLP 550 SOUTH HOPE STREET SUITE 1500 LOS ANGELES CA 90071 990 2022-08-01 954315778 WAVE SERVICES INC WAVE 3105064000 24255 PACIFIC COAST HIGHWAY MALIBU CA 902634497 SARA COSENTINO PRESIDENT 3105064000 2024-06-13 1 SARA COSENTINO XXX-XX-XXXX 0 DAVID M HIGHFILL P01517891 2139724000 2024-06-13 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z SARA COSENTINO 24255 PACIFIC COAST HIGHWAY MALIBU CA 902634497 27178459 0 X WWW.PEPPERDINE.EDU X 1991 CA WAVE SERVICES, INC. IS A SUPPORTING ORGANIZATION OF PEPPERDINE UNIVERSITY. 5 3 0 3 0 0 909157 20487136 0 0 0 160000 258077 -230380 1167234 20416756 6813719 607512 0 0 0 0 0 0 0 15063 1050860 6828782 1658372 -5661548 18758384 134331794 151588755 72023139 66580227 62308655 85008528 WAVE SERVICES, INC. IS A SUPPORTING ORGANIZATION OF PEPPERDINE UNIVERSITY. 0 0 607512 607512 WAVE SERVICES, INC. IS A SUPPORTING ORGANIZATION OF PEPPERDINE UNIVERSITY. AS SUCH, WAVE SERVICES, INC. MANAGES ASSETS, EARNS INCOME, AND PAYS EXPENSES SOLELY FOR THE BENEFIT OF PEPPERDINE UNIVERSITY. 607512 1 1 0 0 0 0 0 0 1 0 0 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 5 3 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 CA X KATELYN CROWE CONTROLLER 8187021364 24255 PACIFIC COAST HIGHWAY MALIBU CA 902634497 JOHN LEWIS DIRECTOR 1.00 1.00 X 0 0 0 JAY WELKER CHAIR 1.00 1.00 X X 0 0 0 JAMES GASH DIRECTOR & VICE PRESIDENT 1.00 41.00 X X 0 778582 340110 DANIEL DEWALT DIRECTOR & VICE PRESIDENT 1.00 41.00 X X 0 337306 49169 FAYE WILLIAMS CRADDOLPH DIRECTOR (AS OF 07/23) 1.00 1.00 X 0 0 0 SARA COSENTINO PRESIDENT 1.00 40.00 X 0 348320 84180 JEFFREY ROHDE SECRETARY (AS OF 12/22) 1.00 41.00 X 0 406727 74045 FAYE HOLTON TREASURER 5.00 36.00 X 0 238556 41884 DIANE CARTER SENIOR TRUST OFFICER 5.00 35.00 X 0 172604 36184 SUSAN CHRISTOPHER VICE PRESIDENT (AS OF 07/23) 5.00 35.00 X 0 58495 1296 SAMUEL HINKLE PRESIDENT (THRU 12/21) 0.00 40.00 X 0 185195 121802 0 2525785 748670 0 1 1 0 0 20487136 3284815 20487136 191245 421703 -230458 -230458 -230458 6500000 6340000 160000 160000 160000 MISCELLANEOUS REVENUE 900099 78 78 78 20416756 0 0 -70380 607512 607512 15209 15209 OTHER MISCELLANEOUS EXP 1035431 1035431 TAXES/LICENSES/FEES 220 220 1658372 607512 1050860 0 6792400 6029552 4435529 0 6340000 121199394 141123674 134331794 151588755 2518415 62780 2 69441944 66580225 72023139 66580227 X 10551316 10465080 51757339 74543448 62308655 85008528 134331794 151588755 X 18758384 3941489 X 0 1 X 1 0 X X X 1 PEPPERDINE UNIVERSITY 951644037 2 1 607512 0 1 607512 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 X 0 ASSETS HELD AS TRUSTEE / AGENT 141123674 141123674 X 23137436 4363192 4363192 18774244 1642512 1642512 20416756 437563 421703 421703 15860 1642512 1642512 1658372 PART IV, LINE 2B: ESCROW AND CUSTODIAL ARRANGEMENTS: WAVE SERVICES, INC. ACTS AS THE FISCAL AGENT FOR FUNDS RELATED TO WAVE SERVICES, INC. SPONSORED AND/OR AFFILIATED PROGRAMS. WAVE SERVICES, INC. DOES NOT OWN THE FUNDS ASSOCIATED WITH THESE PROGRAMS. PART X, LINE 2: LIABILITY FOR UNCERTAIN TAX POSITIONS: WAVE SERVICES, INC. IS A SUBSIDIARY OF PEPPERDINE UNIVERSITY, AND IS INCLUDED IN PEPPERDINE UNIVERSITY'S CONSOLIDATED FINANCIAL STATEMENTS. PEPPERDINE UNIVERSITY'S CONSOLIDATED FINANCIAL STATEMENTS INCLUDE THE FOLLOWING FOOTNOTE REGARDING A LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FASB ASC 740: AS A NOT-FOR-PROFIT EDUCATIONAL INSTITUTION, THE UNIVERSITY IS EXEMPT FROM FEDERAL AND CALIFORNIA INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AND SECTION 23701(D) OF THE CALIFORNIA REVENUE AND TAXATION CODE (EXCEPT FOR TAXES ON UNRELATED BUSINESS INCOME). SINCE THE UNIVERSITY'S UNRELATED BUSINESS INCOME FOR THE YEARS ENDED JULY 31, 2023 AND 2022 WAS IMMATERIAL, NO PROVISION FOR INCOME TAXES HAS BEEN MADE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE REPORTED AS FUNCTIONAL EXPENSE ON FINANCIAL STATEMENTS 421,703. ACTUARIAL ADJUSTMENT 3,941,489. PART XI, LINE 4B - OTHER ADJUSTMENTS: ANNUITY FUNDS RELEASED AND REPORTED AS REVENUE ON FINANCIAL STATEMENTS 607,512. NON-OPERATING EXPENSES REPORTED AS REVENUE ON THE FINANCIAL STATEMENTS 1,035,000. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE REPORTED NET OF REVENUE ON FORM 990 421,703. PART XII, LINE 4B - OTHER ADJUSTMENTS: ANNUITY FUNDS RELEASED AND REPORTED AS REVENUE ON FINANCIAL STATEMENTS 607,512. NON-OPERATING EXPENSES REPORTED AS REVENUE ON THE FINANCIAL STATEMENTS 1,035,000. 1 PEPPERDINE UNIVERSITY 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 951644037 501(C)(3) 607512 0 N/A N/A INSTITUTIONAL SUPPORT 1 0 PART I, LINE 2: MONITORING USE OF FUNDS: GRANTS ARE MADE EXCLUSIVELY TO WAVE SERVICES, INC.'S SUPPORTED ORGANIZATION, PEPPERDINE UNIVERSITY; THEREFORE, NO ADDITIONAL PROCESS IS REQUIRED TO DETERMINE ELIGIBILITY AND SELECTION CRITERIA FOR AWARDING GRANTS. 0 1 0 0 0 0 0 0 0 JAMES GASH DIRECTOR & VICE PRESIDENT 0 483187 0 290970 0 4425 0 30500 0 309610 0 1118692 0 0 JEFFREY ROHDE SECRETARY (AS OF 12/22) 0 328942 0 77185 0 600 0 30500 0 43545 0 480772 0 0 SARA COSENTINO PRESIDENT 0 298367 0 46000 0 3953 0 30500 0 53680 0 432500 0 0 DANIEL DEWALT DIRECTOR & VICE PRESIDENT 0 288707 0 45000 0 3599 0 29277 0 19892 0 386475 0 0 SAMUEL HINKLE PRESIDENT (THRU 12/21) 0 91889 0 0 0 93306 0 55774 0 66028 0 306997 0 79663 FAYE HOLTON TREASURER 0 227729 0 8000 0 2827 0 23264 0 18620 0 280440 0 0 DIANE CARTER SENIOR TRUST OFFICER 0 168154 0 0 0 4450 0 17407 0 18777 0 208788 0 0 PART I, LINE 3 COMPENSATION OF THE ORGANIZATION'S CEO: WAVE SERVICES, INC. IS A SUBSIDIARY OF PEPPERDINE UNIVERSITY. ALL OFFICERS ARE COMPENSATED BY PEPPERDINE UNIVERSITY. THE UNIVERSITY USED ONE OR MORE OF THE METHODS DESCRIBED IN PART I, LINE 3 TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION. PART I, LINE 4B: PEPPERDINE UNIVERSITY HAD AN INCENTIVE COMPENSATION PLAN FOR CERTAIN KEY EXECUTIVES. UNDER THE PLAN, UPON ACHIEVEMENT OF CERTAIN EXPECTATIONS AND GOALS, AND AT THE DISCRETION OF THE BOARD OF REGENTS, THE PARTICIPANT WOULD RECEIVE A UNIVERSITY CONTRIBUTION TO THE PLAN FOR THAT PLAN YEAR. UNIVERSITY CONTRIBUTIONS TO THE PLAN BECAME GRADUALLY VESTED BEGINNING WITH THE LAST DAY OF THE THIRD PLAN YEAR FOLLOWING THE CONTRIBUTION, AND VESTED FULLY AT THE COMPLETION OF THE SEVENTH PLAN YEAR FOLLOWING THE AWARD. WHEN THE EMPLOYEE ATTAINED THE AGE OF 62, THE ACCOUNT FULLY VESTED AND WAS FULLY PAID OUT TO THE EMPLOYEE. THE VESTING SCHEDULE WAS THEN ACCELERATED SUCH THAT THE EMPLOYEE WAS FULLY VESTED AFTER AGE 62. THIS INCENTIVE COMPENSATION PLAN ENDED EFFECTIVE AUGUST 1, 2022. NO AMOUNTS WERE AWARDED IN CALENDAR YEAR 2022. THE FOLLOWING AMOUNTS WERE VESTED AND INCLUDED IN THE EMPLOYEE'S COMPENSATION IN CALENDAR YEAR 2022: SAMUEL HINKLE - $79,663. PART II, COLUMN (F): REPORTED AS DEFERRED IN PRIOR YEAR: AMOUNTS REPORTED ON SCHEDULE J, PART II, COLUMN (F), WERE PREVIOUSLY REPORTED ON WAVE SERVICES, INC.'S FORM 990 FOR PRIOR YEARS AS AMOUNTS AWARDED UNDER THE INCENTIVE COMPENSATION PLAN DISCLOSED IN RESPONSE TO SCHEDULE J, PART I, LINE 4B. X 1 91041 FAIR MARKET VALUE X 1 1014986 FAIR MARKET VALUE X 1 2178741 FAIR MARKET VALUE X CRUT 1 47 FAIR MARKET VALUE 1 1 1 PART I, COLUMN (B): NUMBER OF CONTRIBUTIONS OR ITEMS CONTRIBUTED: WAVE SERVICES, INC. REPORTS THE NUMBER OF CONTRIBUTIONS RECEIVED, NOT THE INDIVIDUAL NUMBER OF ITEMS INCLUDED IN THOSE CONTRIBUTIONS. PART I, LINE 30B: GIFTS OF PARTNERSHIP INTERESTS AND BONDS. PART I, LINE 32B: WAVE SERVICES, INC. IS A SUBSIDIARY OF PEPPERDINE UNIVERSITY. ACCORDINGLY, PEPPERDINE UNIVERSITY SOLICITS NONCASH CONTRIBUTIONS ON BEHALF OF WAVE SERVICES, INC. FORM 990, PART I, LINE 6- NUMBER OF VOLUNTEERS THE NUMBER OF VOLUNTEERS REPRESENTS THE NUMBER OF VOLUNTEER DIRECTORS ON THE BOARD OF DIRECTORS AS OF THE END OF THE TAX YEAR. FORM 990, PART VI, SECTION A, LINE 7A POWER TO APPOINT BOARD DIRECTORS: DIRECTORS SHALL BE NOMINATED BY THE PRESIDENT OF PEPPERDINE UNIVERSITY AND DESIGNATED BY THE CHAIR OF THE BOARD OF REGENTS OF PEPPERDINE UNIVERSITY. CHANGES IN THE DIRECTORS SHALL BE REPORTED TO THE EXECUTIVE COMMITTEE OF THE BOARD OF REGENTS OF PEPPERDINE UNIVERSITY. EACH DIRECTOR SHALL HOLD OFFICE FOR A TERM OF THREE YEARS, OR SUCH SHORTER TERM AS MAY BE SPECIFIED BY THE CHAIR OF THE BOARD OF REGENTS OF PEPPERDINE UNIVERSITY AT THE TIME OF DESIGNATION, OR UNTIL A SUCCESSOR HAS BEEN DESIGNATED AND QUALIFIED. FORM 990, PART VI, SECTION A, LINE 8B COMMITTEES WITH AUTHORITY TO ACT: THE ORGANIZATION HAD NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B PROCESS TO REVIEW FORM 990: WAVE SERVICES, INC.'S FORM 990 IS PREPARED BY A PAID PREPARER. ONCE COMPLETED, IT IS REVIEWED BY AN OFFICER OF THE ORGANIZATION. A FULL COPY OF FORM 990 IS THEN DISTRIBUTED ELECTRONICALLY TO ALL BOARD MEMBERS PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12 ORGANIZATION POLICIES: WAVE SERVICES, INC. IS A SUBSIDIARY OF PEPPERDINE UNIVERSITY. ALL OFFICERS AND DIRECTORS ARE EITHER EMPLOYED BY, OR ARE REGENTS OF, PEPPERDINE UNIVERSITY. PEPPERDINE UNIVERSITY HAS A WRITTEN CONFLICT OF INTEREST POLICY, WHISTLEBLOWER POLICY, AND DOCUMENT RETENTION AND DESTRUCTION POLICY IN PLACE, WHICH APPLY TO THESE INDIVIDUALS. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR EXECUTIVE COMPENSATION: ALL OFFICERS AND COMPENSATED DIRECTORS ARE COMPENSATED BY A RELATED ORGANIZATION, PEPPERDINE UNIVERSITY. SINCE THE ORGANIZATION DID NOT COMPENSATE THE INDIVIDUALS DESCRIBED ON LINES 15A AND 15B DIRECTLY, THE RESPONSE TO THE NOTED LINES IS "NO." FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS AVAILABLE FOR PUBLIC INSPECTION: WAVE SERVICES, INC. IS A SUBSIDIARY OF PEPPERDINE UNIVERSITY. THE ORGANIZATION DOES NOT HAVE SEPARATE POLICIES, AS IT FOLLOWS PEPPERDINE UNIVERSITY'S POLICIES. THE ORGANIZATION'S FINANCIAL STATEMENTS WERE AUDITED AS PART OF THE CONSOLIDATED FINANCIAL STATEMENTS OF PEPPERDINE UNIVERSITY. PEPPERDINE UNIVERSITY'S CONSOLIDATED FINANCIAL STATEMENTS ARE AVAILABLE VIA THE UNIVERSITY'S WEBSITE. PEPPERDINE UNIVERSITY DOES NOT MAKE ITS CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: ACTUARIAL ADJUSTMENT 3,941,489. PEPPERDINE UNIVERSITY 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 951644037 EDUCATION CA 501(C)(3) LINE 2 N/A 0 WAVE ENTERPRISES INC 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 954274572 SUPPORT PEPPERDINE UNIVERSITY CA 501(C)(3) LINE 12A, I PEPPERDINE 0 PEPPERDINE UNIVERSITY (USA) IN LONDON 56 PRINCES GATE LONDON UK SW72PG EDUCATION UK PEPPERDINE 0 CINDERELLA IMMOBILIARE SRL VIALE MILTON 41 FLORENCE IT 50129 EDUCATION IT PEPPERDINE 0 PEPPERDINE UNIVERSITY RWANDA CBC REMERA GASABO UMUJYI WA KIGALI RW 981769828 SOCIAL JUSTICE RW PEPPERDINE 0 ANDURIL HOLDINGS LLC 310 ALDER ROAD PO BOX 841 DOVER DE 19904 010935824 INVESTMENTS DE N/A N/A 0 0 MELODEON LBS DE I HOLDCO LP 143 WEST STREET SUITE 202 NEW MILFORD CT 06776 841955404 INVESTMENTS CT N/A N/A 0 0 P-901 NORTH FAIRFAX CO-INVESTOR LLC 4700 WILSHIRE BLVD LOS ANGELES CA 90010 834222000 REAL ESTATE CA N/A N/A 0 0 CHARITABLE REMAINDER UNITRUSTS (64) 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 INVESTING CA WAVE SERVICES T 1 CHARITABLE REMAINDER ANNUITY TRUSTS (1) 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 INVESTING CA WAVE SERVICES T 1 NIM CHARITABLE REMAINDER UNITRUSTS (4) 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 INVESTING CA WAVE SERVICES T 1 IRREVOCABLE TRUST 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 INVESTING CA WAVE SERVICES T 20455273 1.00000 1 PEPPERDINE UNIVERSITY SRL 11 DE SEPTIEMBRE 955 BUENOS AIRES AR (1426) CAP EDUCATION AR PEPPERDINE C 0 FUNDACION PEPPERDINE UNIVERSITY PARA 11 DE SEPTIEMBRE 955 BUENOS AIRES AR (1426) CAP EDUCATION AR PEPPERDINE C 0 REVOCABLE TRUST 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 INVESTING CA PEPPERDINE T 0 CHARITABLE REMAINDER UNITRUSTS (2) 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 INVESTING CA PEPPERDINE T 0 CHARITABLE GIFT ANNUITIES (75) 24255 PACIFIC COAST HIGHWAY MALIBU CA 90263 INVESTING CA PEPPERDINE T 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 1 1 PEPPERDINE UNIVERSITY B 607512 PRESENT VALUE PEPPERDINE UNIVERSITY P 233957 FMV PEPPERDINE UNIVERSITY S 1476327 CASH TRANSFER PEPPERDINE UNIVERSITY R 789905 PRESENT VALUE