2024-05-14T16:26:38-05:00 2023-06-30 390859910 BAKER TILLY US LLP 205 N MICHIGAN AVE 2800 CHICAGO IL 606015927 990 2022-07-01 362167842 ROCKFORD UNIVERSITY ROCK 8152264000 5050 E STATE ST ROCKFORD IL 61108 JOHN DIRAIMONDO CFO 8152264000 2024-05-14 1 JOHN DIRAIMONDO XXX-XX-XXXX 0 MARK HEROUX P00959793 3127298000 2024-05-14 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z PATRICIA LYNOTT 5050 E STATE ST ROCKFORD IL 61108 44225163 0 X WWW.ROCKFORD.EDU X 1942 IL TO EDUCATE MEN & WOMEN TO LEAD RESPONSIBLE LIVES BY MEANS OF A CURRICULUM GROUNDED IN LIBERAL ARTS LEARNING AND COMPLETED AND EXTENDED BY PROFESSIONAL AND PRACTICAL EXPERIENCE. THROUGH THE TOTAL ACADEMIC AND CO-CURRICULAR EXPERIENCE, ROCKFORD UNIVERSITY STRIVES TO PREPARE STUDENTS FOR FULFILLING LIVES, CAREERS AND PARTICIPATION IN A MODERN AND CHANGING GLOBAL SOCIETY. 23 22 641 21 0 70675 5388351 6264430 36547495 36813838 692720 407212 219326 233274 42847892 43718754 15306330 13701565 0 0 12936212 13863901 0 0 594404 14043703 13721056 42286245 41286522 561647 2432232 55724524 59570964 12418701 11591560 43305823 47979404 X TO EDUCATE MEN & WOMEN TO LEAD RESPONSIBLE LIVES BY MEANS OF A CURRICULUM GROUNDED IN LIBERAL ARTS LEARNING AND COMPLEMENTED AND EXTENDED BY PROFESSIONAL AND PRACTICAL EXPERIENCE, THROUGH THE TOTAL ACADEMIC AND CO-CURRICULAR EXPERIENCE (MISSION CONTINUED ON SCH. O) ROCKFORD UNIVERSITY STRIVES TO PREPARE STUDENTS FOR FULFILLING LIVES, CAREERS AND PARTICIPATION IN A MODERN AND CHANGING GLOBAL SOCIETY. 0 0 32635433 13701565 35021873 FOUR YEAR GRADUATE AND UNDERGRADUATE COLLEGE IN ROCKFORD, IL. 5113827 OPERATIONS AND MAINTENANCE OF PLANT FOR FOUR YEAR GRADUATE AND UNDERGRADUATE UNIVERSITY. 1004989 1791965 AUXILIARY ENTERPRISES (RESIDENCE HALLS AND DINING SERVICES) 38754249 1 1 0 0 0 0 0 0 0 1 1 1 0 1 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 115 0 1 641 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 23 22 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X JOHN DIRAIMONDO 8152264006 5050 E STATE ST ROCKFORD IL 61108 ERIC W FULCOMER PRESIDENT (TERM. 12/2022) 40.00 X X 330299 0 40286 PATRICIA LYNOTT PRESIDENT 40.00 X X 36955 0 0 REBECCA EPPERSON CHAIR 1.00 X X 0 0 0 L THOMAS HEISER VICE CHAIR 1.00 X X 0 0 0 JEFFRY POTTER SECRETARY 1.00 X X 0 0 0 GREG ALLEN TREASURER 1.00 X X 0 0 0 AARON POTTER TRUSTEE 1.00 X 0 0 0 ANISHA GRIMMETT TRUSTEE 1.00 X 0 0 0 BARBARA TANAGLIA TRUSTEE 1.00 X 0 0 0 CHARLES BOX TRUSTEE 1.00 X 0 0 0 DAWN GILE TRUSTEE 1.00 X 0 0 0 DR DEBORAH BREITER TRUSTEE 1.00 X 0 0 0 ELIZABETH DONOVAN TRUSTEE 1.00 X 0 0 0 ELIZABETH HEGEL TRUSTEE 1.00 X 0 0 0 FRANK E WALTER TRUSTEE 1.00 X 0 0 0 JAMES W KEELING TRUSTEE 1.00 X 0 0 0 JOEL MOORE TRUSTEE 1.00 X 0 0 0 KEITH AKRE TRUSTEE 1.00 X 0 0 0 KRISTIN SMITH TRUSTEE 1.00 X 0 0 0 LESLY COUPER TRUSTEE 1.00 X 0 0 0 MARCI TAETS TRUSTEE 1.00 X 0 0 0 NOR ALAMERY TRUSTEE 1.00 X 0 0 0 PATTI TUMILOWICZ TRUSTEE 1.00 X 0 0 0 TERESA BEACH-SHELOW TRUSTEE 1.00 X 0 0 0 LISA CUSTARDO VP FINANCE AND CFO (TERM. 05/2023) 40.00 X 154720 0 19727 MICHAEL PERRY PROVOST AND VP ACADEMIC AFFAIRS (TERM. 05/2023) 40.00 X 135619 0 26227 RANDY WORDEN VP STUDENT LIFE & DEAN OF STUDENT 40.00 X 126209 0 13400 DEEPSHIKHA SHUKLA PROVOST AND VP ACADEMIC AFFAIRS 40.00 X 88432 0 25690 JOHN DIRAIMONDO VP FINANCE AND CFO 40.00 X 80251 0 16894 LINDA SANDQUSIT VP ADVANCEMENT 40.00 X 55789 0 15227 1008274 0 157451 4 0 1 0 SODEXO PO BOX 360170 PITTSBURGH PA 152516170 CAMPUS OPERATIONS & MAINTENANCE AND FOOD 1591988 NATIONAL MANAGEMENT RESOURCES 113 CORPORATE PARK EAST DRIVE E LAGRANGE GA 30241 CAMPUS OPERATIONS & MAINTENANCE 718245 CERONI PIPING COMPANY 7770 CERONI ROAD CHERRY VALLEY IL 61016 HVAC & PLUMBING SERVICES 415119 EXPENSE REDUCTION ANALYSTS PO BOX 956251 ST LOUS MO 63195 CONSULTANT 375000 FRESH IDEAS MANAGEMENT INC 3220 VANDIVER DRIVE COUMBIA MO 65202 CAMPUS FOOD SERVICE 331071 14 15050 1696876 4552504 3414544 6264430 STUDENT TUITION & FEES 611600 35021873 35021873 AUXILI. ENTER. - FOOD 611600 1527346 1527346 AUXILIARY ENTERPRISES 611600 264619 264619 36813838 388793 388793 74990 74990 132135 65804 66331 66331 66331 438869 420450 18419 18419 18419 101134 15050 20155 80979 80979 1670 0 1670 1670 MISCELLANEOUS INCOME 611710 9304 9304 9304 43718754 36813838 0 640486 13701565 13701565 1165727 373033 617835 174859 10100536 9788370 171773 140393 359642 338063 14386 7193 1384365 1149023 179967 55375 853631 751196 68290 34145 88980 88980 134141 134141 54133 54133 2403932 1947185 408668 48079 294976 284062 10324 590 199543 159634 7982 31927 1171260 1111526 1171 58563 3189408 3059899 96957 32552 234519 213412 9381 11726 34042 9191 24851 306328 306328 1810656 1810656 243272 223810 19462 TEMP-RESTRICTED AID 1210724 1210724 FOOD SERVICE 1024451 1024451 BAD DEBT 723805 723805 596886 568316 29568 -998 41286522 38754249 1937869 594404 6467868 4082505 1000001 1523448 193609 14998 1439037 1566080 1594033 1826634 564012 502307 79307227 56827509 19124866 22479718 11685424 13160284 13655674 14414990 55724524 59570964 2923247 2015244 368100 381950 3373252 3141959 3910990 3662032 0 1025000 1843112 1365375 12418701 11591560 X 12113473 15434670 31192350 32544734 43305823 47979404 55724524 59570964 2432232 2241349 0 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1092404 11685424 105354 1076956 -292550 13160284 12275435 815772 -1550535 127798 -272550 11685424 9322304 190947 2518334 8700 -252550 12275435 8976775 63097 41020 8850 -250262 9322304 8667248 308958 636545 635976 8976775 0.00000 1.00000 0.00000 0 0 2190456 2190456 54389519 36359191 18030328 19328884 18186269 1142615 3398368 2282049 1116319 22479718 ENDOWMENT INVESTMENTS 13160284 C 13160284 BENEFICIAL INTEREST IN TRUST 13789609 IRREVOCABLE TRUST RECEIVABLE 581142 INTEREST RATE SWAP ASSET 44239 14414990 GOVERNMENTAL LOAN PAYABLE 515216 STUDENT CREDIT BALANCE PAYABLE 446960 ASSET RETIREMENT OBLIGATION 278848 ACCRUED POST RETIREMENT HEALTH BENEFITS 63436 ACCRUED INTEREST 8650 OTHER LIABILITIES 52265 1365375 X 32311881 2241349 21517 65804 2328670 29983211 54133 13681410 13735543 43718754 27638300 21517 65804 87321 27550979 54133 13681410 13735543 41286522 PART X, LINE 2: THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IT IS ALSO EXEMPT FROM STATE INCOME TAX. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. THE UNIVERSITY FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE UNIVERSITY FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2023 AND 2022. THE UNIVERSITY'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 65,804. PART XI, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON FINANCIAL STATEMENTS 13,701,565. EVENT EXPENSES -20,155. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES 65,804. PART XII, LINE 4B - OTHER ADJUSTMENTS: FINANCIAL AID NETTED WITH REVENUE ON FINANCIAL STATEMENTS 13,701,565. EVENT EXPENSES -20,155. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 ROCKFORD UNIVERSITY IS COMMITTED TO PROVIDING EQUAL OPPORTUNITY AND AN EDUCATIONAL AND WORK ENVIRONMENT FOR ITS STUDENTS, FACULTY AND STAFF FREE FROM ANY DISCRIMINATION BASED ON RACE, COLOR, RELIGION, SEX, NATIONAL ORIGIN, SEXUAL ORIENTATION, ANCESTRY, AGE, MARITAL STATUS, PHYSICAL OR MENTAL DISABILITY OR STATUS AS A DISABLED VETERAN OR VETERAN OF THE VIETNAM WAR. (SEE APPLICATION ON OUR WEBSITE FOR A MORE LENGTHY DESCRIPTION). SCHEDULE E, PART I, LINE 6 ROCKFORD UNIVERSITY RECEIVES FEDERAL STUDENT AID. GOLF PLAY DAY 33590 15050 18540 285 6879 12991 BASEBALL 24924 24924 1 57670 57670 116184 15050 101134 285 6879 12991 20155 80979 1 SCHOLARSHIP/FINANCIAL AID 1118 13701565 PART I, LINE 2: PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS SCHOLARSHIPS ARE MONITORED BY OUR STUDENT ADMINISTRATIVE SERVICES DEPARTMENT FOR PROPER USE AND AWARDING. ALL GRANT AND SCHOLARSHIP REQUIREMENTS ARE FOLLOWED AND DOCUMENTED IN THE SAS OFFICE RECORDS. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 ERIC W FULCOMER PRESIDENT (TERM. 12/2022) 270970 0 51564 0 7765 0 12385 0 27901 0 370585 0 0 0 LISA CUSTARDO VP FINANCE AND CFO (TERM. 05/2023) 144720 0 10000 0 0 0 7466 0 12261 0 174447 0 0 0 MICHAEL PERRY PROVOST AND VP ACADEMIC AFFAIRS (TERM. 05/2023) 125619 0 10000 0 0 0 6638 0 19589 0 161846 0 0 0 A VILLAGE OF MACHESNEY PARK IL 363126674 2013-10-09 5000000 SEE PART VI 0 0 0 A 1764309 5000000 100000 4900000 2015 0 0 1 1 A 0 0 0 0 0 0 1 A 0 0 0 1 1 1 PACIFIC COAST 15.000000000000 0 0 0 0 0 A 1 SCHEDULE K - DATE REBATE COMPUTATION PERFORMED VILLAGE OF MACHESNEY PARK, IL 10/09/18 X 5000 DONOR VALUATION X 4 11001 FMV X 1 3375000 APPRAISAL X MAPS/BOOKS 1 8915 COST X 50 ROOMS COMPED FOR 2021-2022 1 8650 DONOR VALUATION X ALL OTHER 17 4897 DONOR VALUATION X SIDEWALK REPAIR NEAR DORM ENTRANCE 1 1081 DONOR VALUATION 0 0 0 0 PART I, COLUMN (B): THE NUMBER ON COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 2 RELATED PARTY INFORMATION AMONG OFFICERS: BUSINESS RELATIONSHIPS BETWEEN BOARD OF TRUSTEE MEMBERS: SEVERAL OF OUR BOARD TRUSTEES HAVE BUSINESS RELATIONSHIPS WITH EACH OTHER LOCALLY. FORM 990, PART VI, SECTION B, LINE 11B ORGANIZATION'S PROCESS TO REVIEW FORM 990 - THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES APPROVES THE FORM 990 PRIOR TO BEING SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ENFORCEMENT OF CONFLICTS POLICY - CONFLICT OF INTEREST STATEMENTS ARE SIGNED ANNUALLY BY THE BOARD OF TRUSTEES, OFFICERS AND KEY EMPLOYEES. THE STATEMENTS ARE THEN REVIEWED BY THE UNIVERSITY'S CFO. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION PROCESS FOR TOP OFFICIAL - THE BOARD OF TRUSTEES APPROVES THE PRESIDENT'S COMPENSATION IN COMPARISON WITH CUPA DATA OF OUR PEER INSTITUTIONS. COMPENSATION PROCESS FOR OFFICERS - THE PRESIDENT APPROVES THE VICE PRESIDENTS' COMPENSATION, WITH REVIEW OF THE BOARD. ALL ARE DONE IN COMPARISON WITH CUPA DATA OF OUR PEER INSTITUTIONS. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS DISCLOSURE EXPLANATION - AVAILABLE UPON REQUEST TO THE PUBLIC AND MANY ARE POSTED ON THE ROCKFORD UNIVERSITY WEBSITE. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS NEITHER CHANGED ITS OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.