2022-05-12T11:13:09-07:00 2021-06-30 990 2020-07-01 050277222 ROGER WILLIAMS UNIVERSITY ROGE 4012531040 One Old Ferry Road Bristol RI 02809 Marc Leonetti Interim EVP Finance & Admin 4012543536 2022-05-15 1 11 1 AAL2 2020 2022-09-23 18:48:47Z Ioannis Miaoulis One Old Ferry Road Bristol RI 02809 221319131 0 X www.rwu.edu X 1959 RI Roger Williams University is an independent university that combines the unique strengths of small liberal arts colleges and those of larger comprehensive universities and where liberal and professional education are enhanced by their integration and the recognition of their unity. 30 26 3168 461 6481 0 9806414 16817317 188499696 195184666 2416624 4013669 2692452 940342 203415186 216955994 62274901 64776850 0 0 92090783 93674952 0 0 2612332 52168410 55511811 206534094 213963613 -3118908 2992381 273380421 298569657 145350703 153286055 128029718 145283602 X See Schedule O. 0 0 192362799 64776850 195850005 Higher Education: Roger Williams University (the "University"), located in Bristol and Providence, Rhode Island, is a private, coeducational university with programs in the liberal arts and the professions that includes the Feinstein College of Arts and Sciences, the School of Architecture, Art and Historic Preservation, the Mario J. Gabelli School of Business, the School of Education, the School of Engineering, Computing and Construction Management, the School of Justice Studies and the School of Continuing Studies. The University offers more than 50 majors of undergraduate study and 13 graduate degrees, along with numerous minors and certificate programs. The University is accredited by the New England Commission of Higher Education, Inc, among other accrediting bodies. The University provides academic, residential and other services to a diverse student population predominately drawn from the Northeast region of the United States, as well as from more than 45 U.S. states and territories and 30 foreign countries. Enrollment for fiscal year 2021 was approximately 3,827 full-time and 488 part-time undergraduates plus 232 full-time and 123 part-time graduate students. 0 0 0 192362799 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 1 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 1 0 0 0 1 268 0 1 3168 1 1 1 1 UK 0 0 0 1 1 0 0 0 0 0 0 X 30 26 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Marc Leonetti 4012543843 One Old Ferry Road Bristol RI 02809 Ioannis N Miaoulis President 35.00 5 X X 608020 0 225780 Jerome F Williams EVP for Finance & Administration (until 12/31/20) 35 5 X 361513 0 45056 Stephanie P Manzi Faculty 40 0 X 203935 0 139201 Brian Williams Chief of Staff 40 0 X 251795 0 81435 Susan M McTiernan Dean Gabelli School of Business 40 0 X 238092 0 40447 Amy Sullivan Berkeley Vice President of Institutional Advancement 40 0 X 250661 0 25346 John J King VP for Student Affairs 40 0 X 210871 0 38039 Daryl Ford Chief Information Officer 40 0 X 205250 0 38640 Richard Bernardi Faculty 40 0 X 204145 0 31387 Marc A Leonetti EVP for Finance & Administration 35 5 X 172673 0 36063 Margaret C Everett Provost 40 0 X 162157 0 13644 Lisa J Raiola Trustee, Former VP Institutional Advancement 40 0 X 38001 0 958 William Smith Trustee 1 15.00 X 0 28845 0 Linn Foster Freedman Secretary 5.00 5.00 X X 0 4500 0 Jerauld C Adams Trustee 1 0 X 0 0 0 Timothy E Baxter Chairman 1 0 X X 0 0 0 Nicole Benjamin Trustee 1 1.00 X 0 0 0 Heather Boujoulian Trustee 1 0 X 0 0 0 Richard L Bready Trustee 1 0 X 0 0 0 Joseph M Brito Jr Trustee 1 0 X 0 0 0 Rodney A Butler Trustee 1 0 X 0 0 0 Doris De Los Santos Trustee 1 0 X 0 0 0 Larry Eichler Trustee 1 0 X 0 0 0 Mario J Gabelli Trustee 1 0 X 0 0 0 William Geraghty Trustee 1 0 X 0 0 0 Jeff Grybowski Trustee 1 0 X 0 0 0 Peter A Heard Trustee 1 0 X 0 0 0 Michael Integlia Trustee 1 0 X 0 0 0 Denise M Jenkins Trustee 1 0 X 0 0 0 Keith Johnson Trustee 1 0 X 0 0 0 Howard Merten Trustee 1 5.00 X 0 0 0 Marcia Morris Trustee 1 0 X 0 0 0 Scott Pray Trustee 1 0 X 0 0 0 Frank Rainieri Jr Trustee 1 0 X 0 0 0 Todd Rechler Trustee 1 0 X 0 0 0 Regina Shakin Trustee 1 0 X 0 0 0 Arlene Violet Trustee 1 0 X 0 0 0 Joseph D Whelan Trustee 1 0 X 0 0 0 Timothy Yeaton Trustee 1 0 X 0 0 0 Jerrold L Lavine Treasurer 1 0 X X 0 0 0 2907113 33345 715996 213 0 1 0 MBC Carpentry LLC 150 Anthony Road Portsmouth RI 02871 Construction/Contractor 271305 Ellucian 62578 Collection Center Drive Chicago IL 60693 Software Maintenance and Support 315114 International Studies Abroad LLC Suite 200 II-5301 Southwest Parkway Austin TX 78735 Program fees for study abroad services 101700 3 0 0 20150 0 11842310 4954857 397438 16817317 Tuition 611310 146708107 146708107 0 0 Room and Board 611310 39511244 39511244 0 0 Fees 611310 7269280 7269280 0 0 Other Auxiliary Income 611310 866547 866547 0 0 829488 829488 0 0 195184666 201938 591 6481 194866 132 0 0 132 0 0 0 0 180572 0 187024 0 -6452 0 -6452 0 0 -6452 7972783 10542 4171726 0 3801057 10542 3811599 0 0 3811599 3050 20150 4387 -1337 0 -1337 Justice Training Institute 900099 424900 424900 0 0 Conferences 900099 104517 8187 0 96330 Bookstore Commissions 900099 187053 0 0 187053 231661 231661 0 0 948131 216955994 195850005 6481 4282191 0 0 64776850 64776850 0 0 0 0 1529872 448468 898998 182406 0 0 0 0 68082061 61093211 5584889 1403961 3894307 3280139 525352 88816 14741593 13032569 1373081 335943 5427119 4326160 1007316 93643 308064 197002 111062 0 132200 0 132200 0 160485 0 160485 0 0 0 0 0 0 0 325544 0 325544 0 8775958 8103172 603361 69425 1120538 1107490 12898 150 1877431 1335022 395427 146982 2889906 1646530 1064643 178733 6055 6055 0 0 8915965 8498788 417177 0 211424 135891 45020 30513 0 0 0 0 264184 221967 41307 910 3122594 3120985 1609 0 0 0 0 0 12638567 12638567 0 0 2154444 1441970 712474 0 Student Expense 3476384 3457166 19218 0 Library Materials 1214747 1214747 0 0 Dues and Subscriptions 509394 267347 222031 20016 Covid Testing Costs 4933455 0 4933455 0 2474472 2012703 400935 60834 213963613 192362799 18988482 2612332 -1484385 1048400 0 1185064 1310899 6706544 10659410 0 0 0 0 1061836 764621 174102 105583 1921788 1354511 411272020 211930459 206528590 199341561 19194330 24662562 36586241 45836360 0 0 1506311 13485750 273380421 298569657 9666339 16106136 0 0 23444150 21838942 96654606 89552339 0 0 0 0 3020695 2655316 0 12564913 23133322 145350703 153286055 X 113435609 126113934 14594109 19169668 128029718 145283602 273380421 298569657 X 2992381 13888193 0 0 0 373310 X 0 1 X 1 1 1 X 6490653 10793731 9767247 9806414 16817317 53675362 0 0 0 0 0 0 0 0 0 0 0 0 6490653 10793731 9767247 9806414 16817317 53675362 0 53675362 855674 702521 777091 750212 382642 3468140 0 0 0 0 0 0 364206 374860 411551 378958 286433 1816008 58959510 973695797 0.91038 0.88048 X Schedule A, Part I, Line 7 The basis of Roger Williams University's Public Charity Status has been and continues to be its qualification as a school described in Section 170(B)(1)(A)(II). The University has checked Box 7 on Schedule A, Part I and completed Schedule A, Part II in order to demonstrate its qualification to follow the special rule for abbreviated reporting of contributions on Form 990, Schedule B. Schedule A, Part II, Line 10 Other income includes gross income from fundraising activities, conference income and bookstore commissions. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 62509314 639621 17862315 259397 2716006 396321 77639526 67137524 100733 -137384 244866 4055561 291132 62509314 69203230 136701 2799826 251772 4394408 356053 67137524 67584900 194303 5848054 257363 3772846 393818 69203230 63030327 151969 7929140 222457 2959527 344552 67584900 0.7949 0.1143 0.0908 0 0 0 6780121 6780121 0 313392630 137341395 176051235 0 230353 161699 68654 0 61247182 48428765 12818417 0 29621734 25998600 3623134 199341561 0 0 Hedged Equity- Developed and Emerging 5905543 F Domestic and International Equities 28303543 F Fixed Income Securities 2669117 F Private Equity 8958157 F 45836360 0 Operating Lease Liability 13316986 Asset Retirement Obligation 4830468 Refundable Advances 1144921 Interest Rate Swap Obligation 1345014 Charitable Annuity Obligations 122531 Student Agency Funds 1840290 Other Miscellaneous Long Term Liabilities 533112 23133322 X 166295973 13888193 0 0 -64403539 -50515346 216811319 325544 -180869 144675 216955994 149042089 0 0 0 180869 180869 148861220 325544 64776849 65102393 213963613 Schedule D, Part V, Line 4 The intended use of the restricted endowment funds are dictated by the donor which are predominantly for instructional purposes and scholarships. Earnings from unrestricted endowment funds are used for operations according to the spending policy established by the University's Board of Trustees. Schedule D, Part X, Line 2 The University accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. The University has identified its tax status as a tax exempt entity as its only significant tax position; however, the University has determined that such tax position does not result in an uncertainty requiring recognition. The University is not currently under examination by any taxing jurisdictions. The University's federal tax return is generally open for examination for three years following the date filed. Schedule D, Part XI, Line 2d Scholarships and grants provided to students of ($64,776,849) are presented as a contra-revenue item in the audited financial statements and as an expense in the Form 990. Change in fair value of interest rate swaps of $378,149 and change in value of split-interest agreements of ($4,839) are presented as non-operating income items items in the audited financial statements and as other adjustments to reconcile the change in net assets in the Form 990. Schedule D, Part XI, Line 4b Fundraising event expenses of ($4,387), rental expenses of ($187,024) and gain on disposal of property and equipment of $10,542 are shown as expense items in the audited financial statements and as contra-revenue items on the Form 990. Schedule D, Part XII, Line 2d Fundraising event expenses of $4,387, rental expenses of $187,024 and gain on disposal of property and equipment of (10,542) are shown as expense items in the audited financial statements and as contra-revenue items on the Form 990. Schedule D, Part XII, Line 4b Scholarships and grants provided to students of $64,776,849 are presented as a contra-revenue item in the audited financial statements and as an expense in the Form 990. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The University annually publishes a notice of its racially nondiscriminatory policy in a newspaper of general circulation that serves all racial segments of the community. Also the University's non-discrimination policy is available on its website at http://rwu.edu/site-policies/non-discrimination-policy. Schedule E, Part I, Line 6 The University receives federal and state student financial aid authorized by student loan programs. Europe (including Iceland and Greenland) 0 0 Program Services Business Travel/Study Abroad 3286 Central America and the Caribbean 0 0 Investments 5327685 0 0 5330971 1 0 1 1 1 0 Schedule F, Part I, Line 3 Study abroad is an opportunity for students to continue the Roger Williams University education while living in another country. Study abroad is not merely a travel experience, but an academic experience (first and foremost) in an international setting. The study abroad programs are separately tracked in the University's general ledger system by activity and the amounts reported represent direct spending in foreign countries for tuition payments, lodging, travel and incidentals for students and faculty liaisons. The admissions recruiting and fundraising amounts are tracked primarily using the University's credit card system and represent travel, meals, and lodging costs for University employees conducting business in these regions. All expenses are under the accrual method of accounting. Lacrosse Fundraising 23200 20150 3050 0 0 0 0 0 4387 0 0 23200 20150 3050 0 0 0 0 0 4387 4387 -1337 1 Scholarships to students 3891 0 64776850 Other Reduction to student account balance for tuition owed to the university. Schedule I, Part I, Line 2 The University's Office of Financial Aid monitors all recipients of scholarship awards to determine both initial and confirming eligibility based on the criteria for each type of award, which may include academic performance, financial need, and criteria established by donors of endowed scholarship funds, etc. X X X 1 1 X X X X X X 0 1 0 0 0 0 0 1 0 Ioannis N Miaoulis President 608020 0 0 0 0 0 149087 0 76693 0 833800 0 0 0 Marc A Leonetti EVP for Finance & Administration 172673 0 0 0 0 0 12760 0 23303 0 208736 0 0 0 Jerome F Williams Former EVP for Finance & Administration 361513 0 0 0 0 0 21533 0 23523 0 406569 0 0 0 Lisa J Raiola Trustee, Former VP Institutional Advancement 38001 0 0 0 0 0 0 0 958 0 38959 0 0 0 Brian Williams Chief of Staff 251795 0 0 0 0 0 18457 0 62978 0 333230 0 0 0 John J King VP for Student Affairs 210871 0 0 0 0 0 16194 0 21845 0 248910 0 0 0 Margaret C Everett Provost 162157 0 0 0 0 0 5235 0 8409 0 175801 0 0 Susan M McTiernan Dean Gabelli School of Business 238092 0 0 0 0 0 18433 0 22014 0 278539 0 0 0 Amy Sullivan Berkeley Vice President of Institutional Advancement 250661 0 0 0 0 0 18854 0 6492 0 276007 0 0 0 Daryl Ford Chief Information Officer 205250 0 0 0 0 0 15235 0 23405 0 243890 0 0 0 Richard Bernardi Faculty 204145 0 0 0 0 0 15752 0 15635 0 235532 0 0 0 Stephanie P Manzi Faculty 203935 0 0 0 0 0 11178 0 128023 0 343136 0 0 0 Schedule J, Part I, Line 1a Housing Allowance - A residence on the employer's premises is used for both University business functions and as a personal residence by the President for the convenience of the employer and is treated as nontaxable compensation. The value of the personal space within the residence is included as a nontaxable benefit on Schedule J. Health or social club dues - The University paid social club membership dues for the President. Since the use of the memberships were for business purposes it was not treated as taxable compensation. Personal Services - The University regularly cleans the President's residence and the value of the maintenance of the personal space is taxed accordingly. Schedule J, Part I, Line 4 The President of Roger Williams University participates in a University 457(f) plan and $126,007 was accrued under the plan during calendar year 2020 and contributed to the plan monthly. Schedule J, Part I, Line 7 For University non-aligned employees, merit based compensation may be granted as either a base salary increase or a one-time bonus. Qualifications for receiving a bonus include performance exceeding expectations or taking on additional duties due to staff vacancies or temporary absences. For the compensation of the University's President, the bonus amount (if any) is determined by an employment agreement along with a review and approval of the Executive Committee of the Board of Trustees, who are all independent of the President. In the case of all other officers and other key employees, the bonus amount (if any) is determined via the same process as other compensation for officers and other key employees, including review by the University's President, who is independent of the other officers or key employees. A RIHEBC 2008A 521300173 762197CK5 2008-07-03 22935000 Retire 2006A Bonds 0 0 0 B RIHEBC 2008B 521300173 762197CM1 2008-08-28 38000000 Construction 0 0 0 C RIHEBC 2011A 521300173 2011-06-02 26410000 Refund 1998 Bonds 0 0 0 D RIHEBC 2011B 521300173 2011-11-08 12025000 Refund 2000 Bonds 0 0 0 A 0 0 22935000 0 0 22532642 276243 0 0 126115 0 0 2009 1 0 1 1 B 0 0 38000000 0 0 0 488608 0 0 37511392 0 0 2010 0 0 1 1 C 0 0 26410000 0 0 25879219 237781 0 0 0 293000 0 2012 1 0 1 1 D 0 0 12025000 0 0 11788293 236707 0 0 0 0 0 2012 1 0 1 1 A 0 0 0 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 0 0 1 C 0 0 0 0 0 0 0 0 0 1 D 0 0 0 0 0 0 0 0 0 1 A 0 0 0 1 1 1 US Bank 18.0 0 0 0 0 1 B 0 0 0 1 1 1 US Bank 30.0 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 D 0 0 1 0 0 0 0 0 1 A 1 B 1 C 1 D 1 Schedule K, Part IV, Line 2c-07/03/2008 22,935,000 RIHEBC 2008A 22,935,000 RIHEBC 2008A - Date of last rebate computation was 07/02/2020. Schedule K, Part IV, Line 2c-08/28/2008 38,000,000 RIHEBC 2008B 38,000,000 RIHEBC 2008B - Date of last rebate computation was 07/31/2020. A RIHEBC 2014 521300173 2014-10-24 15667000 Refund 2006 Bond 0 0 0 B RIHEBC 2016A 521300173 2016-10-14 5654485 Construction 0 0 0 C RIHEBC 2018 521300173 2018-10-18 8750000 Construction 0 0 0 D RIHEBC 2019 521300173 2019-11-27 14518500 Refund 2013A Bond 0 0 0 A 0 0 15667000 0 0 15176487 170438 0 0 0 320075 0 2014 0 1 1 1 B 0 0 5654485 0 0 0 113232 0 0 5541253 0 0 2018 0 0 1 1 C 0 0 8750000 0 0 0 137798 0 0 8601514 10688 0 2019 0 0 0 1 D 0 0 14518500 0 0 14372504 145996 0 0 0 0 0 2019 1 0 1 1 A 0 0 0 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 0 0 1 C 0 0 0 0 0 0 0 0 0 1 D 0 0 1 0 0 0 0.0121 0.0121 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 D 1 Schedule K, Part IV, Line 2c-10/24/2014 15,667,000 RIHEBC 2014 15,677,000 RIHEBC 2014 - Date of last rebate computation was 08/31/2020. Schedule K, Part IV, Line 2c-10/14/2016 5,654,485 RIHEBC 2016A 5,654,485 RIHEBC 2016A - Date of last rebate computation was 11/30/2020. Schedule K, Part IV, Line 2c-10/18/2018 8,750,000 RIHEBC 2018 8,750,000 RIHEBC 2018 - Date of last rebate computation was 10/31/2020. X 8 185352 FMV X Horse 1 200000 Appraisal X Professional Services 1 12086 Fair Market Value 1 0 1 0 Schedule M, Part I The number in column (b) is the number of contributions. Form 990, Part III, Line 1 To strengthen society through engaged teaching and learning. We inspire and educate students to lead fulfilled lives by ensuring they acquire and develop the knowledge, skills and habits of mind necessary to become reflective, responsible individuals who interact with society in mutually rewarding ways. Form 990, Part VI, Section A, Line 2 Trustees Mario Gabelli and Joseph Whelan have a business relationship. Form 990, Part VI, Section B, Line 11b IRS Form 990 is prepared by the Controller, VP for Accounting and Treasury Management and the Executive VP for Finance and Administration, along with assistance from the University Office of General Counsel. The completed Form 990 and schedules, along with relevant back up, are provided to an independent accounting firm for review. Upon completion, the form is provided to the Audit Committee of the Board of Trustees for review, discussion and approval. The completed and approved Form 990 is then sent to all members of the Board of Trustees prior to filing with the IRS. Form 990, Part VI, Section B, Line 12c Trustees, officers, key employees and managers are all required to annually (or more frequently in the event of a new potential conflict) disclose any potential conflicts of interest by completing a conflict of interest disclosure form. These disclosures are collected by the Office of General Counsel and provided for vetting to 1) the full Board of Trustees for Trustee disclosures; 2) the President for officer and senior management disclosures; or 3) senior management for down-line key employees and managers. The University's Conflict of Interest Policy and by-laws both contain provisions that provide for individuals with actual and potential conflicts to refrain from participating in discussion of, and voting on, matters where such conflicts exist. Form 990, Part VI, Section B, Line 15 The compensation for the University's President is contractually set and is reviewed by the Executive Committee and the Board of Trustees, all members of which are independent of the President. The Executive Committee's review currently includes, but is not limited to, the use of comparability data and other outside consultants. The process for determining compensation for the University's other officers or key employees includes a review by the University's President, who is independent of the other officers or key employees. The President's review currently includes, but is not limited to, the use of comparability data and other outside consultants. In addition, the compensation of officers and key employees falls within the parameters of the University's non-aligned merit compensation program that is approved by the Board of Trustees on an annual basis. Form 990, Part VI, Section C, Line 19 Governing documents are available in part through the Rhode Island Secretary of State's office. The University's by-laws and Conflict of Interest Policy governing employees and the corresponding disclosure form are available on the University's website. Audited financial statements are not publicly available. Form 990, Part XI, Line 9 Change in fair value of interest rate swaps $378,149, change in value of split-interest agreements ($4,839). Roger Williams University School of Law 10 Metacom Road Bristol RI 02809 050465628 Law Grad School RI 501(c)(3) 2 N/A 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 1