The historical financial statements of Stanford Hospital & Clinics (“SHC”) and Lucile Packard Children’s Hospital (“LPCH”). SHC and LPCH are California nonprofit public benefit corporations that serve as the principal clinical affiliates of the University’s School of Medicine for medical education and research. Stanford University is the sole corporate member of each SHC and LPCH; consequently, Generally Accepted Accounting Principles require the consolidated reporting of the accounts of SHC and LPCH with those of Stanford University. However, the accounts and controls of SHC and LPCH, their financial statements (including those made available here as a courtesy), and the engagement and supervision of independent auditors to audit such statements, are solely the responsibility of the management and governing boards of SHC and LPCH. The indebtedness of SHC and LPCH is the contractual obligation solely of SHC and LPCH.

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