2021-05-14T11:40:41-05:00 2020-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2019-07-01 042103552 BRANDEIS UNIVERSITY % SAMUEL SOLOMON CFO AND TREA BRAN 7817362000 PO BOX 9110 WALTHAM MA 024549110 SAMUEL SOLOMON CFO & TREASURER 7817362000 2021-05-13 true GENEVA FURLANO P01877392 6179881000 2019 2022-09-23 18:48:47Z RONALD LIEBOWITZ PO BOX 9110 WALTHAM MA 024549110 657935904 false X WWW.BRANDEIS.EDU X 1947 MA AN EDUCATIONAL INSTITUTION, A COMMUNITY OF SCHOLARS AND STUDENTS UNITED BY THEIR COMMITMENT TO THE PURSUIT OF KNOWLEDGE AND ITS TRANSMISSION FROM GENERATION TO GENERATION. 40 37 5343 2832 1006997 782238 41754856 54711068 381922956 389017866 70340091 5584314 5037702 8079629 499055605 457392877 110182327 114541175 0 0 198398355 215174488 0 0 14631275 155042254 148258058 463622936 477973721 35432669 -20580844 1588160821 1638021472 375677646 407782210 1212483175 1230239262 AS A RESEARCH UNIVERSITY, BRANDEIS UNIVERSITY IS DEDICATED TO THE ADVANCEMENT OF THE HUMANITIES, ARTS AND SOCIAL, NATURAL AND PHYSICAL SCIENCES. 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We work to connect theory and practice through field work and experiential learning. 49461067 3673162 57029461 Sponsored Programs include various research and instructional programs funded by external parties, including the Federal government, foreign and state governments, and private foundations and corporations. Brandeis research is at the heart of many societal, artistic, intellectual, and scientific advances. Research at Brandeis is interdisciplinary, bold, and collaborative. It's an approach that enables the faculty to leverage the relatively small size of the university to achieve an impact well beyond the sum of its parts. Brandeis is wholly committed to the proposition that basic research is the engine of innovation in human health and well-being. 37421968 37486506 Auxiliary Enterprises: Brandeis University serves the needs and interests of students and has broad responsibility for the services and activities that enhance the quality of student life outside the classroom. 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Membership fees to these organizations allocable to lobbying activities amounted to $7,535. 11 99088 12000 1095216 true true X X X X false 1073525864 18320825 39388112 21432479 34429939 1783138 1073589245 1046386224 19978652 58779655 21139541 30479126 0 1073525864 976887018 23964663 95171930 18988748 30648639 0 1046386224 866777766 62895086 95868789 16645319 32009304 0 976887018 915087079 27549415 -29715218 14288816 31854694 0 866777766 0.09580 0.64620 0.25800 false false 47886840 47886840 404641330 194463197 210178133 223228898 183931394 39297504 143023200 105392650 37630550 25806094 25806094 360799121 0 ESTIMATED LIABILITY TO ANNUITANTS 10559437 DEFERRED COMPENSATION AND SEVERANCE 195148 ENVIRONMENTAL LIABILITY 5471968 REFUNDABLE STUDENT LOAN ADVANCES 3577785 CAPITAL LEASE LIABILITY 7727609 27531947 X 381935684 39599320 -112130403 -72531083 454466767 2926110 2926110 457392877 364179597 364179597 2926110 110868014 113794124 477973721 COLLECTIONS OF ART PART III, LINE 1: COLLECTIONS AT BRANDEIS UNIVERSITY ARE PROTECTED AND PRESERVED FOR PUBLIC EXHIBITION, EDUCATION, RESEARCH AND THE FURTHERANCE OF PUBLIC SERVICE. COLLECTIONS ARE NOT CAPITALIZED; SALES AND PURCHASES OF COLLECTION ITEMS ARE RECORDED AS NON-OPERATING REVENUE AND EXPENSES IN THE UNIVERSITY'S FINANCIAL STATEMENTS IN THE PERIOD IN WHICH THE ITEMS ARE SOLD OR ACQUIRED, RESPECTIVELY. PART III, LINE 4 FOUNDED IN 1961, THE ROSE ART MUSEUM (THE ROSE) IS AN INTEGRAL PART OF BRANDEIS UNIVERSITY. THE ROSE IS AN EDUCATIONAL AND CULTURAL MUSEUM DEDICATED TO COLLECTING, PRESERVING AND EXHIBITING THE FINEST OF MODERN AND CONTEMPORARY ART. THE PROGRAMS OF THE ROSE ADHERE TO THE OVERALL MISSION OF THE UNIVERSITY, EMBRACING ITS VALUES OF ACADEMIC EXCELLENCE, SOCIAL JUSTICE, AND FREEDOM OF EXPRESSION. THE ROSE IS ACTIVE IN THE ACADEMIC, CULTURAL, AND SOCIAL LIFE OF BRANDEIS. THE ROSE SEEKS TO STIMULATE PUBLIC AWARENESS AND DISSEMINATE KNOWLEDGE OF MODERN AND CONTEMPORARY ART TO ENRICH EDUCATIONAL, CULTURAL, AND ARTISTIC COMMUNITIES REGIONALLY, NATIONALLY, AND INTERNATIONALLY. IT PROMOTES LEARNING AND UNDERSTANDING OF THE EVOLVING MEANINGS, IDEAS, AND FORMS OF VISUAL ART RELEVANT TO CONTEMPORARY SOCIETY. PART V, LINE 2 BRANDEIS UNIVERSITY HAS ADOPTED FASB ASU 2016-14, PRESENTATION OF THE FINANCIAL STATEMENTS FOR NOT-FOR-PROFIT ENTITIES. AS A RESULT, THE JUNE 30, 2020 AUDITED FINANCIAL STATEMENTS CLASSIFY NET ASSETS AS EITHER NET ASSETS WITHOUT DONOR RESTRICTIONS OR NET ASSETS WITH DONOR RESTRICTIONS. FOR PURPOSES OF PART V, LINE 2, BRANDEIS UNIVERSITY HAS REPORTED ITS YEAR END ENDOWMENT BALANCE WITHOUT DONOR RESTRICTIONS AS QUASI-ENDOWMENT AND ITS YEAR END BALANCE WITH DONOR RESTRICTIONS AS PERMANENT ENDOWMENT AND TEMPORARILY RESTRICTED ENDOWMENT. ENDOWMENT FUNDS PART V, LINE 4 BRANDEIS UNIVERSITY'S ENDOWMENT AND QUASI-ENDOWMENT CONSISTS OF APPROXIMATELY 1,950 INDIVIDUAL ENDOWMENT ACCOUNTS ESTABLISHED FOR A VARIETY OF PURPOSES IN ACCORDANCE WITH THE APPLICABLE LAW AND DONOR INTENT AND FUNDS DESIGNATED BY THE UNIVERSITY'S BOARD TO OPERATE AS ENDOWMENT (QUASI-ENDOWMENT). A MAJORITY OF THE FUNDS PROVIDE SCHOLARSHIPS AND FINANCIAL AID ASSISTANCE TO UNDERGRADUATE AND GRADUATE STUDENTS. OTHER USES OF THE FUNDS INCLUDE, BUT ARE NOT LIMITED TO, SUPPORT FOR FELLOWSHIPS, THE CREATION AND FUNDING OF ENDOWED CHAIRS AND PROFESSORSHIPS, AND SUPPORT FOR THE UNIVERSITY'S TEACHING AND RESEARCH ACTIVITIES. THE UNIVERSITY'S ENDOWMENT INVESTMENT OBJECTIVES ARE TO MAXIMIZE RISK-ADJUSTED RETURNS FOR A LONG-TERM HORIZON. THE ENDOWMENT INTENDS TO ACHIEVE ITS OBJECTIVES BY INVESTING IN MULTIPLE ASSET CLASSES. IN ORDER TO MEET THE PRIMARY INVESTMENT GOALS FOR ENDOWMENT FUNDS, THE AVERAGE ANNUAL NET TOTAL RETURN OVER AN EXTENDED PERIOD, AFTER ADJUSTING FOR INFLATION, IS DEEMED SUFFICIENT TO SUPPORT THE SPENDING RATE AS DETERMINED BY THE UNIVERSITY'S BOARD OF TRUSTEES. TO HAVE A REASONABLE PROBABILITY OF ACHIEVING THE ENDOWMENT'S PRIMARY INVESTMENT GOAL AT AN ACCEPTABLE RISK LEVEL, THE INVESTMENT COMMITTEE HAS ADOPTED A LONG-TERM ASSET ALLOCATION POLICY. FIN 48 (ASC 740) FOOTNOTE PART X, LINE 2 THE UNIVERSITY IS A NOT-FOR-PROFIT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED (THE CODE), AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE UNIVERSITY IS REQUIRED TO ASSESS UNCERTAIN TAX POSITIONS AND HAS DETERMINED THAT THERE WERE NO SUCH POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. OTHER REVENUE INCLUDED IN FINANCIAL STATEMENTS BUT NOT ON RETURN PART XI, LINE 2D UNIVERSITY FUNDED FINANCIAL AID (110,868,014) CHANGE IN VALUE OF SPLIT INTEREST (1,262,389) ------------ TOTAL (112,130,403) OTHER EXPENSES INCLUDED ON RETURN BUT NOT FINANCIAL STATEMENTS PART XII, LINE 4B UNIVERSITY FUNDED FINANCIAL AID 110,868,014 ------------ TOTAL 110,868,014 true true true true true true true false false false false false false false false true false true NONDISCRIMINATION POLICY PART I, LINE 3 The University's non-discrimination and harassment policy is publicized in the Student Handbook and Human Resource and Employee Relations Policy and Procedures Manual on the Brandeis website. The policy applies to all Brandeis students, faculty and staff. Notice of nondiscrimination policy is also available on Brandeis University's homepage. Brandeis University is committed to providing its students, faculty and staff with an environment conducive to learning and working and where all people are treated with respect and dignity. Toward that end, it is essential that Brandeis be free from discrimination and harassment on the basis of race, color, ancestry, religious creed, gender identity and expression, national or ethnic origin, sex, sexual orientation, pregnancy, age, genetic information, disability, military or veteran status or any other category protected by law (also known as membership in a "protected class"). Violations of this policy will not be tolerated and may result in corrective actions up to and including termination from employment. The University has the responsibility to help prevent harassment and discrimination from occurring, to pursue concerns of which it is aware, to investigate concerns thoroughly and in an impartial fashion, and to take immediate and appropriate action to remedy instances of harassment and discrimination. Brandeis takes this responsibility seriously. Therefore, violations of this policy will not be tolerated and may result in corrective action up to and including release from employment. The University makes it policy available year-round on its website: https://www.brandeis.edu/equal-opportunity/policies/pdfs/discrimination-ha rassment-sv-policy.pdf FUNDS FROM GOVERNMENT AGENCIES PART I, LINE 6A The University received funds from various governmental agencies for the purpose of providing financial assistance to qualified recipients, to support sponsored research and the construction of educational faciliities. true Central America and the Caribbean Program Services STUDY ABROAD 61803 East Asia and the Pacific Program Services STUDY ABROAD 699071 Europe (Including Iceland and Greenland) Program Services STUDY ABROAD 2408472 Middle East and North Africa Program Services STUDY ABROAD 162075 North America Program Services STUDY ABROAD 24600 Russia and the Newly Independent States Program Services STUDY ABROAD 39400 South America Program Services STUDY ABROAD 161456 South Asia Program Services STUDY ABROAD 54625 Sub-Saharan Africa Program Services STUDY ABROAD 59327 Europe (Including Iceland and Greenland) Program Services CERN 981168 East Asia and the Pacific Program Services FOREIGN RESEARCH 86698 Europe (Including Iceland and Greenland) Program Services FOREIGN RESEARCH 158381 Middle East and North Africa Program Services FOREIGN RESEARCH 80536 North America Program Services FOREIGN RESEARCH 95191 South America Program Services FOREIGN RESEARCH 153287 South Asia Program Services FOREIGN RESEARCH 366 Sub-Saharan Africa Program Services FOREIGN RESEARCH 25068 Central America and the Caribbean Investments 414417850 5251524 414417850 419669374 SCHOLARSHIP AND FINANCIAL AID Central America and the Caribbean 5 35227 SEE PART V SCHOLARSHIP AND FINANCIAL AID East Asia and the Pacific 46 296947 See Part V SCHOLARSHIP AND FINANCIAL AID Europe (Including Iceland and Greenland) 132 890220 See Part V SCHOLARSHIP AND FINANCIAL AID Middle East and North Africa 13 84165 See Part V SCHOLARSHIP AND FINANCIAL AID Russia and the Newly Independent States 2 19075 See Part V SCHOLARSHIP AND FINANCIAL AID South America 10 100182 See Part V SCHOLARSHIP AND FINANCIAL AID South Asia 3 8880 See Part V SCHOLARSHIP AND FINANCIAL AID Sub-Saharan Africa 4 50500 See Part V SCHOLARSHIP AND FINANCIAL AID North America 2 24600 See Part V true false true true true false PROCEDURE FOR MONITORING USE OF GRANT FUNDS TO INDIVIDUALS PART I, LINE 2 Brandeis University provides grants and scholarships to students that are studying abroad. The University ensures that such grants and other assistance are used for study abroad purposes or are not otherwise diverted from the intended use by directly applying the grants and assistance to the study abroad institutions. MANNER OF CASH DISBURSEMENT PART III, COLUMN (E) Student scholarships and financial aid to students are credited to each student's account and paid directly to the institutions at which the student is studying abroad. 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In addition, the University has established research policies and procedures as guidelines to principal investigators in managing their grant at Brandeis University. PROCEDURE OF MONITORING USE OF GRANTS AND ASSISTANCE TO INDIVIDUALS PART III The University provides grants and scholarships to students and applies the financial aid directly crediting each student's account. X X X true true X X X X X X true true false false false false false false false Ronald Liebowitz President 781897 0 0 0 359710 0 28000 0 40972 0 1210579 0 87000 0 Nicholas Warren Chief Investment Officer 760371 0 0 0 41202 0 22400 0 36649 0 860622 0 0 0 Lisa Lynch Provost 484972 0 0 0 28640 0 28000 0 36155 0 577767 0 0 0 Stewart Uretsky EVP Finance and Administration 470813 0 35000 0 21358 0 28000 0 2504 0 557675 0 0 0 Zamira Korff SVP Institutional Advancement 420106 0 40000 0 18672 0 28000 0 42066 0 548844 0 0 0 Kathryn Graddy Faculty 379052 0 0 0 42460 0 28000 0 84065 0 533577 0 0 0 Ira Jackson EVP Communications THRU 1/2019 1336 0 0 0 449118 0 0 0 213 0 450667 0 0 0 Deborah Shufrin Director of Investments 396254 0 0 0 10062 0 22400 0 13806 0 442522 0 0 0 Jon Chilingerian Faculty 352056 0 0 0 4251 0 28000 0 26935 0 411242 0 0 0 Anna Scherbina Faculty 343014 0 1000 0 5471 0 25765 0 31121 0 406371 0 0 0 Gina Turrigiano Faculty 324081 0 0 0 19959 0 28000 0 25112 0 397152 0 0 0 Samuel Solomon CFO and Treasurer 299481 0 0 0 7573 0 28000 0 29946 0 365000 0 0 0 James La Creta Chief Information Officer 283354 0 0 2396 0 22400 0 27622 0 335772 0 0 0 Steven Locke SVP, General Counsel 233026 0 0 0 3462 0 24208 0 27399 0 288095 0 0 0 Edward Hackett VP for Research 223539 0 0 0 9393 0 22354 0 1660 0 256946 0 0 0 William O'Reilly Chief of Staff 227813 0 0 0 4972 0 0 0 1690 0 234475 0 0 0 James Gray VP Operations THRU 04/2019 85791 0 0 18073 0 8640 0 3632 0 116136 0 0 0 Robin Nelson-Bailey VP HR THRU 07/2019 87786 0 15782 0 7028 0 586 0 111182 0 0 0 PART I, QUESTION 1 TRAVEL FOR COMPANIONS During calendar year 2019, the University reimbursed President Liebowitz for travel expenses incurred by his family while conducting business of the University. Such reimbursements were made in accordance with University policy. Travel reimbursements for the Presidents family that are considered personal in nature are included in taxable compensation and reported on Form W-2 and on Schedule J, Part II, Column B(iii). Business expense reimbursements are not treated as taxable compensation. Housing allowance or residence for personal use: The University provided President Liebowitz with a housing allowance as a condition of his employment. The value of such housing is includable as taxable income under IRS Code Section 119(d). Personal Services During calendar year 2019, the University reimbursed President Liebowitz for personal legal and financial service expenses. The amount paid by the University was included in the individual's form W-2 and reported on Schedule J, Part II, Column B(iii). Other Business Expenses The University reimburses its officers and key employees for ordinary and necessary business expenses incurred while conducting business of the University. Such reimbursement is made under an accountable plan and requires substantiation using the original expense documentations and approval by appropriate parties as authorized under University policy. Part I, Question 4a Severance or Change of Control Payment The university has an Employment and Separation policy that covers members of the senior management group, which provides severance provision from 4 weeks to 20 weeks. Some senior management may have additional severance provision as part of their employment arrangement. Ira Jackson, EVP of Communications, left his position at the beginning of calendar year 2019. As part of his separation agreement, Mr. Jackson received severance of $409,000, which was included in his W-2 and reported on Schedule J, Part II, Column B(iii). Part I, Question 4b DEFERRED COMPENSATION ARRANGEMENT President Liebowitz participates in a nonqualified deferred compensation arrangement under IRS code section 457(f). In accordance with his employment agreement, the University will credit a deferred compensation account on June 30th of every year beginning on June 30, 2017. The deferred compensation account will vest every three years contingent upon continuous employment. The deferred compensation account was credited with $83,500 on June 30, 2019, which also vested and became taxable on June 30, 2019. A total of $170,500 in deferred compensation was paid out during calendar year 2019, which includes deferred compensation credited from 2017-2019. Deferred compensation payout is reported on Schedule J, Part II, Column B(iii). Deferred compensation payout that was previously reported as deferred compensation credits in prior Forms 990 are reported on Schedule J, Part II, Column F. A MA DEVELOPMENT FINANCE AGENCY 2013 - SERIES P 043431814 000000000 2013-07-18 36500000 CONSTRUCTION, REFUND '04 BOND false false false B MA DEVELOPMENT FINANCE AGENCY 2017 - SERIES Q 043431814 000000000 2017-06-15 20000000 CONSTRUCTION false false false C MA DEVELOPMENT FINANCE AGENCY 2018 - SERIES R 043431814 57584YLJ6 2018-08-21 41421007 Refund '08 Bonds false false false D MA DEVELOPMENT FINANCE AGENCY 2019 - SERIES S-1 043431814 000000000 2019-07-03 132703346 REFUND '10 BOND false false false A 5095172 0 36500000 0 0 0 403050 0 0 14951609 21145341 0 2014 true false true true B 975000 0 20000000 0 0 0 0 0 0 20000000 0 0 2019 false false true true C 1000000 0 41421007 0 0 0 435572 0 0 0 40985435 0 true false true true D 0 0 132703346 0 0 0 815322 0 0 0 131888024 0 2020 true false true true A false false false false 0.00000 0.00000 0.00000 false false false true B false false true true true false 0.01310 0.00110 0.01420 false false false true C false false false true false 0.00000 0.00760 0.00760 false false false true D false false false false 0.00000 0.00000 0.00000 false false false true A false false false true false false 0 false 0 false true B false false false true false false 0 false 0 false true C false false false true false false 0 false 0 false true D false false false true false false 0 false 0 false true A true B true C true D true PART I, COLUMN F PROCEEDS FROM THE SERIES P BOND WERE USED FOR THE REFUND OF '04 BOND ISSUED ON 01/08/2004. PROCEEDS FROM THE SERIES S-1 BOND WERE USED FOR THE REFUND OF THE '10 BONDS ISSUED ON 03/09/2010. PART III, LINE 3A SERIES 2013, 2018, 2019 (S-1), AND 2019 (S-2) ALL MANAGEMENT AND SERVICE CONTRACTS IN BOND-FINANCED SPACE QUALIFY UNDER A PRIVATE BUSINESS USE SAFE HARBOR OR EXCEPTION OR ARE INCIDENTAL IN NATURE. THEREFORE, NO CONTRACTS RESULT IN PRIVATE BUSINESS USE. SERIES 2017 MANAGEMENT AND SERVICE CONTRACTS EXISTS IN BOND-FINANCED SPACE AND RESULT IN PRIVATE BUSINESS USE. THE PERCENTAGE OF FINANCED PROPRERTY USED IN PRIVATE BUSINESS RELATED TO THESE CONTRACTS IS INCLUDED ON PART III, LINE 4, COLUMN (C). PART IV, LINE 2C Arbitrage rebate computations: The arbitrage rebate computations for the 2013, 2017 , 2018 and 2019 bonds were performed on June 30, 2020, May 31, 2020, SEPTEMBER 30, 2020, JUNE 30, 2020, AND FEBRUARY 29, 2020 RESPECTIVELY. A MA DEVELOPMENT FINANCE AGENCY 2019 - SERIES S-2 043431814 575844PM5 2019-03-05 44292634 Construction of Buildings false false false A 0 0 44292634 0 0 0 263682 0 0 15490392 0 28538560 2021 false false false true A false false false true false 0.00000 0.00070 0.00070 false false false true A false false false true false false 0 false 0 false true A true MARGOT DAVIS J. DAVIS-TRUSTEE 22328 EMPLOYEE COMPENSATION false JESSICA LIEBOWITZ R.LIEBOWITZ-PRESIDENT 71515 EMPLOYEE COMPENSATION false Lucy Goodhart S. Kay - Trustee 36018 EMPLOYEE COMPENSATION false Elanah Uretsky S. Uretsky - Executive VP Finance 102931 EMPLOYEE COMPENSATION false PART IV Elanah Uretsky (Spouse of University Executive Vice President for Finance and Administration Stewart Urestky), Lucy Goodhart (daughter-in-law of Trustee Stephen kay), Jessica Liebowitz (spouse of University President Ronald Liebowitz), and Margot Davis (spouse of Trustee Jonathan Davis) are employees of the university. None of the officers or trustees mentioned participated in establishing their compensation. X 52 APPRAISAL X 168 12848364 AVERAGE OF HIGH LOW X BOOK COLLECTION 1 9000 APPRAISAL X Lab Equipment 15 197045 APPRAISAL 18 false true false NUMBER OF CONTRIBUTIONS LINE 1, COLUMN (B) The university is reporting in Part 1, column (b), the number of items received. WORKS OF ART Part I, Line 1 A zero amount was reported on Form 990, Part VIII, Line 1g, because Brandeis University does not capitalize its collections, as allowed under Financial Accounting Standards Board Accounting Standards Codification 958-360-25 (ASC 958-360-25) (formerly SFAS 116). GIFT ACCEPTANCE POLICY PART I, LINE 31 Brandeis University's gift acceptance policy is available online at www.brandeis.edu. ORGANIZATION'S MISSION FORM 990, PART I, LINE 1 Brandeis University is a community of scholars and students united by their commitment to the pursuit of knowledge and its transmission from generation to generation. As a research University, Brandeis is dedicated to the advancement of the humanities, arts and of social, natural, and physical sciences. As a liberal arts college, Brandeis affirms the importance of a broad and critical education in enriching the lives of students and preparing them for full participation in a changing society. In this manner, Brandeis seeks to ensure its students are capable of promoting their own welfare while remaining deeply concerned about the welfare of others. In a world of challenging social and technological transformation, Brandeis remains a center of open inquiry and teaching, cherishing its independence from any doctrine of government. It strives to reflect the heterogeneity of the United States and of the world community whose ideas and concerns it shares. In the belief that the most important learning derives from the personal encounter and joint work of teachers and students, Brandeis encourages undergraduates and postgraduates to participate with distinguished faculty in research, scholarship and artistic activities. REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE OFFICE IS RESPONSIBLE FOR DRAFTING FORM 990. THE COMPLETED DRAFT IS SUBMITTED FOR REVIEW BY THE UNIVERSITY'S TAX ADVISORY FIRM. RECOMMENDED CHANGES ARE DISCUSSED WITH THE FINANCE OFFICE AND INCORPORATED INTO THE RETURN, AS APPROPRIATE. FOR FISCAL YEAR 2020, THE BOARD OF TRUSTEES HAS DELEGATED THE REVIEW OF THE FORM 990 TO THE RISK MANAGEMENT AND AUDIT COMMITTEE. THE RISK MANAGEMENT AND AUDIT COMMITTEE REVIEWED THE FORM 990 AND DISCUSSED ANY QUESTIONS WITH THE FINANCE OFFICE AND THE UNIVERSITY'S TAX ADVISORY FIRM. AFTER THE RISK MANAGEMENT AND AUDIT COMMITTEE REVIEW, AND PRIOR TO FILING THE COMPLETED FORM 990, A COPY OF THE FORM 990 WAS SENT TO EACH MEMBER OF THE BOARD OF TRUSTEES. CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12C The Brandeis University conflict of interest policy for trustees, officers and committee members establishes a process whereby potential, apparent and actual conflicts of interest of trustees, officers and non-trustee committee members may properly be avoided or managed so that the best interests of the University are protected. Officers, trustees and committee members complete an annual conflict of interest disclosure form, which is consistent with the policy and the applicable regulatory and auditing requirements. The Investment Committee members complete an annual disclosure form with additional questions related to University's Investments. Certain senior officers and financial employees are also required to complete an annual disclosure form with respect to the University's investments. The Executive Committee of the Board of Trustees, with the assistance of the General Counsel, oversees the collection and review of the disclosure forms. In the case of a potential, apparent, or actual related party transaction or other situation presenting a possible conflict of interest, the Executive Committee of the Board of Trustees chair is responsible for deciding whether to submit the transaction or situation to the Executive Committee of the Board of Trustees or the board for a determination. In addition, the University has established a separate conflict of interest policy for its employees. Under this policy, disclosure forms are completed annually by all senior officers, the President's cabinet, Department chairs, heads of centers and institutes, principal investigators and other designated senior officials and financial personnel. Persons with a conflict are recused from discussions and do not vote on resolutions that pertain directly to their conflict. COMPENSATION POLICY FORM 990, PART VI, SECTION B, LINE 15B The University is committed to attracting, retaining and motivating qualified employees, relating compensation to performance, promoting an equitable relationship between compensation and responsibility and ensuring compliance with law and regulation. This process is the foundation of all hiring, annual performance evaluations and salary adjustments. The Board of Trustees is responsible for approving the President's compensation based upon recommendation from the Executive Committee of the Board of Trustees. Compensation paid to the President's direct reports shall be approved by the Executive Committee of the Board of Trustees based upon a recommendation from the President. Compensation paid to the President's direct reports shall be reported to the Board of Trustees. The Executive Committee of the Board of Trustees utilizes independent external consultants to assist with both the review of compensation agreements and the gathering of comparability data in determining the reasonableness of compensation and compliance with the procedures described in Treasury Regulation Section 53.4958-6. PUBLIC DISCLOSURE FORM 990, PART VI, SECTION C, LINE 19 The organization's financial statements and Form 990 are available online at www.brandeis.edu/business-finance. The University's governing documents are available online at www.brandeis.edu. The organization's Form 990 and audited financial statements are also available at the website of Massachusetts Attorney General. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 9 CHANGE IN VALUE OF SPLIT INTEREST (1,262,389) ------------ TOTAL (1,262,389) PARTNERSHIP 1 INVESTING TX BRANDEIS EXCLUDED -2289186 53567296 false 0 false 0.99800 PARTNERSHIP 2 INVESTING DE BRANDEIS EXCLUDED 1020360 34739374 false 0 false 0.96976 PARTNERSHIP 3 Investing DE NA UNRELATED 116949 15507479 false 114897 false 0.92819 CHARITABLE REMAINDER TRUSTS (21) investing NA trust true false true false false false false false false false false false false false false false false false false true PARTNERSHIP 1 S 3700000 FMV PARTNERSHIP 2 B 2000000 FMV Charitable Remainder Unitrust S 912336 FMV PART IV, LINE 1 DOMICILE STATES: MA - 20 FL - 1