2019-07-15T09:30:53-05:00 2018-08-31 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2017-09-01 362167854 Roosevelt University ROOS 3123413580 430 South Michigan Avenue Chicago IL 60605 Andrew Harris Treasurer 2019-07-15 true Nicole Bencik P00756195 3128997000 2017 2019-02-21 02:37:17Z Ali Malekzadeh 430 South Michigan Avenue Chicago IL 60605 142369009 false X WWW.ROOSEVELT.EDU X 1945 IL Education of academically qualified students from diverse backgrounds and all ages to benefit from rigorous higher education and professional development in a dynamic environment. 34 23 2646 44 -1183032 -926487 32680387 17087385 117265580 116966623 3586712 5049640 21001827 -638434 174534506 138465214 27491013 30935880 0 68444317 64217998 0 3299001 48119248 62012013 144054578 157165891 30479928 -18700677 441969417 408866962 285690457 267380642 156278960 141486320 Roosevelt University is an independent, non-profit, metropolitan university and national leader in educating socially conscious citizens for active and dedicated lives as leaders in their professions and their communities. The University's student-centered faculty and staff inspire academically qualified students from diverse backgrounds and all ages to benefit from rigorous higher education and professional development opportunities. false false 116761116 30935880 117111617 ROOSEVELT UNIVERSITY OFFERS PROGRAMS AND SERVICES THAT REINFORCE ITS STUDENT-CENTERED MISSION. THE UNIVERSITY OFFERS MORE THAN 100 UNDERGRADUATE, GRADUATE AND CERTIFICATE PROGRAMS AND IS COMMITTED TO THE HIGHEST ACADEMIC STANDARDS FOR ALL PROGRAMS. CLASS SCHEDULES ARE FLEXIBLE. COURSES ARE OFFERED FROM EARLY MORNING UNTIL LATE AT NIGHT, AS WELL AS ON WEEKENDS. ADDITIONALLY, THE UNIVERSITY OFFERS MORE THAN 100 ONLINE CLASS SECTIONS EACH SEMESTER WITH COURSE ENROLLMENTS EXCEEDING 2,000 STUDENTS. FULLY ONLINE DEGREE PROGRAMS ARE AVAILABLE. CLASS SIZES ARE SMALL. AT THE UNDERGRADUATE LEVEL, THE AVERAGE CLASS SIZE IS 18 AND FOR THE GRADUATE LEVEL, THE AVERAGE CLASS SIZE IS 17. ROOSEVELT SERVES 2,514 UNDERGRADUATE AND 1,943 GRADUATE STUDENTS. THE FOLLOWING IS A LISTING OF THE APPROXIMATE NUMBER OF STUDENTS BY COLLEGE: ARTS & SCIENCES - 2,100 STUDENTS; EDUCATION - 500 STUDENTS; PERFORMING ARTS - 500 STUDENTS; BUSINESS - 1,100 STUDENTS AND PHARMACY - 200 STUDENTS. 9043044 0 0 ROOSEVELT UNIVERSITY PROVIDES SUPPORT SERVICES THAT FOSTER LEARNING AND STUDENT SUCCESS ON CAMPUS. THESE SERVICES INCLUDE: FACULTY- LED EXPERIENTIAL LEARNING OPPORTUNITIES, THE ACADEMIC SUCCESS CENTER, CAREER SERVICES, COUNSELING CENTER, DISABILITY SERVICES, LEARNING COMMUNITIES, HEALTH & WELLNESS PROGRAMS, INTERNATIONAL PROGRAMS AND TUTORING. 475615 0 0 ROOSEVELT UNIVERSITY'S COMMITMENT TO SOCIAL JUSTICE IS DEEPLY ROOTED IN ITS HISTORY AND IS REFLECTED IN ITS MISSION, STRATEGIC PLAN, RESEARCH AND LEARNING OPPORTUNITIES BOTH IN AND OUTSIDE OF THE CLASSROOM. THE MANSFIELD INSTITUTE FOR SOCIAL JUSTICE AND TRANSFORMATION, CREATED IN 1999 THROUGH A GIFT FROM THE MANSFIELD FOUNDATION, PROVIDES ROOSEVELT UNIVERSITY WITH OPPORTUNITIES TO INTEGRATE SOCIAL JUSTICE THROUGHOUT THE CURRICULUM AND RESEARCH. THE GOAL OF THE INSTITUTE IS TO FOSTER SOCIAL CONSCIOUSNESS AMONG THE UNIVERSITY COMMUNITY THROUGH SOCIAL JUSTICE PROGRAMMING IN THE AREAS OF HUMAN RIGHTS, SOCIAL AND POLITICAL ACTION AND THE ARTS. THE CENTER FOR NEW DEAL STUDIES FEATURES RESOURCES AND ACTIVITIES THAT DEEPEN THE UNDERSTANDING OF THE LIVES OF FRANKLIN AND ELEANOR ROOSEVELT, AND OF THE SOCIAL, ECONOMIC, POLITICAL AND CULTURAL HISTORY OF THE NEW DEAL ERA IN AMERICAN HISTORY. THE CENTER SPONSORS A VARIETY OF EDUCATIONAL PROGRAMS, INCLUDING LECTURE SERIES, COURSE OFFERINGS AND PUBLICATIONS. IN ADDITION, THE CENTER CONTAINS A REMARKABLE COLLECTION OF MATERIALS ON FRANKLIN AND ELEANOR ROOSEVELT AND THE NEW DEAL. THESE INCLUDE BOOKS, DIGITAL AND PHOTOGRAPHIC MEDIA, ORAL HISTORIES, MANUSCRIPT COLLECTIONS AND THOUSANDS OF PIECES OF EPHEMERA OF INTEREST TO ROOSEVELT SCHOLARS AND RESEARCHERS OF THE NEW DEAL. 126279775 true true false false false false true false true true false false false true true false true true false true false true false true false false false true true true false true false false false false true false false false true true false false true true true true false false true 6779 0 true 2646 true true true false false false false true true true false false false X 34 23 false false false false false false false true true false false true true true true true true true true false X Patrick Alforque 3123412277 430 SOUTH MICHIGAN AVENUE Chicago IL 60605 DR ALI R MALEKZADEH PRESIDENT & CEO 38.0 2.0 X X 538119 0 75744 PATRICIA HARRIS CHAIR 1.0 1.0 X X 0 0 0 MELVIN L KATTEN SENIOR VICE CHAIR 1.0 1.0 X X 0 0 0 ROBERT MEDNICK SENIOR VICE CHAIR 1.0 X X 0 0 0 KENNETH TUCKER SENIOR VICE CHAIR 1.0 1.0 X X 0 0 0 SUSAN T BART VICE CHAIR 1.0 X X 0 0 0 BRUCE A CROWN SECRETARY 1.0 2.0 X X 0 0 0 STEVEN H ABBEY TRUSTEE 1.0 X 0 0 0 MARIAN AZZARO TRUSTEE 38.0 X 86280 0 35076 TOM BALANOFF TRUSTEE 1.0 X 0 0 0 JAMES BEDFORD TRUSTEE 1.0 X 0 0 0 DR STEPHEN J CERRONE TRUSTEE 1.0 X 0 0 0 MARK A CRAYTON TRUSTEE 38.0 X 55425 0 8876 MAUREEN A EHRENBERG TRUSTEE 1.0 1.0 X 0 0 0 GERALD W FOGELSON TRUSTEE 1.0 X 0 0 0 CHARLES R GARDNER LIFE TRUSTEE 1.0 2.0 X 0 0 0 THOMAS GLADDEN TRUSTEE 1.0 X 0 0 0 MARSHA F GOLDSTEIN TRUSTEE 1.0 X 0 0 0 JOHN R HALL III TRUSTEE 1.0 X 0 0 0 JOE F HANAUER LIFE TRUSTEE 1.0 X 0 0 0 DR GREGORY HAUSER TRUSTEE 38.0 X 105452 0 18464 LARISSA HERCZEG TRUSTEE 1.0 X 0 0 0 DAVID D HILLER LIFE TRUSTEE 1.0 1.0 X 0 0 0 MEME HOPMAYER TRUSTEE 1.0 X 0 0 0 DONALD HUNT LIFE TRUSTEE 1.0 X 0 0 0 DR KATHLEEN M IVERSON TRUSTEE 38.0 X 103753 0 33529 ROBERT JOHNSON LIFE TRUSTEE 1.0 X 0 0 0 DR ABBY KAHALEH TRUSTEE 38.0 X 108302 0 17537 LOUIS S KAHNWEILER LIFE TRUSTEE 1.0 X 0 0 0 JOHN O KESHNER TRUSTEE 1.0 X 0 0 0 WILLIAM J KIRBY TRUSTEE 1.0 X 0 0 0 RON KUBIT TRUSTEE 1.0 X 0 0 0 RENEE LOGAN LIFE TRUSTEE 1.0 X 0 0 0 SALMA LOPEZ TRUSTEE 1.0 X 2500 0 0 ROBERT Y PADDOCK TRUSTEE 1.0 X 0 0 0 ANTHONY R PASQUINELLI LIFE TRUSTEE 1.0 X 0 0 0 JOSEPH A PASQUINELLI TRUSTEE 1.0 X 0 0 0 TERRY PETERSON TRUSTEE 1.0 X 0 0 0 DR MARGARET M POLICASTRO TRUSTEE 38.0 X 122530 0 21002 MADIHA RIZVI TRUSTEE UNTIL 6/30/18 1.0 X 3254 0 0 ANNA E ROOSEVELT LIFE TRUSTEE 1.0 X 0 0 0 MAURICE SMITH TRUSTEE 1.0 X 0 0 0 MANFRED S STEINFELD LIFE TRUSTEE 1.0 X 0 0 0 MAREK A WIERZBA TRUSTEE 1.0 X 0 0 0 ROBERT L WIESENECK TRUSTEE 1.0 1.0 X 0 0 0 DR CAROLYN WILEY TRUSTEE 38.0 X 131855 0 19591 ANDREW M HARRIS TREASURER STARTING 6/1/18 38.0 1.0 X 0 0 0 DR MICHAEL D FORD ASSISTANT SECRETARY 38.0 X 134087 0 19857 TANGELLA S MADDOX INTERIM TREASURER UNTIL 5/31/18 38.0 2.0 X 214535 0 23674 DR LOIS S BECKER PROVOST/EXEC VP ACAD AFFAIRS 38.0 1.0 X 245699 0 37567 HENRY FOGEL DEAN CCPA 38.0 1.0 X 176478 0 34454 DR BONNIE J GUNZENHAUSER DEAN COLLEGE OF ARTS & SCIENCES 38.0 X 171695 0 27618 DR MELISSA L HOGAN DEAN COLLEGE OF PHARMACY 38.0 X 219328 0 34282 DONALD E JONES JR FORMER VP INSTITUTIONAL ADVANCEMENT 38.0 X 282880 0 33051 NEERAJ KUMAR VP INFO TECH AND CIO 38.0 X 183222 0 47779 DR THOMAS R PHILION DEAN EDUCATION 38.0 X 154293 0 12294 TERRY C RICHARDS INTERIM VP ENROLL MGMT UNTIL 1/3/18 38.0 X 169912 0 9754 DR JOSEPH O CHAN PROFESSOR OF INFORMATION SYSTEMS 38.0 X 239673 0 11378 DR SAMUEL ROSENBERG VICE PROVOST ACADEMIC AFFAIRS 38.0 X 195436 0 36055 DR GORDON L PATZER PROFESSOR OF MARKETING 38.0 X 175020 0 25776 DR TANWEER HASAN PROFESSOR OF FINANCE/ACCTG 38.0 X 162859 0 17055 DAVID L FUNK ASOC PROF REAL ESTATE 38.0 X 158355 0 21507 PAUL M MCGUINNESS FORMER VP OF ENROLLMENT MGMT 0.0 X 124000 0 21 4264942 0 621941 86 true true false UNIVERSITY CENTER PROPERTY LLC 353 N CLARK ST STE 730 CHICAGO IL 606543453 STUDENT HOUSING 1889142 ABM JANITORIAL SERVICES 180 N LASALLE STREET SUITE 1420 CHICAGO IL 60601 JANITORIAL SERVICES 1313099 FOOD SERVICES INC 1801 W GLENDALE AVE MILWAUKEE WI 53209 FOOD SERVICES 1178836 LANGEHAUMER CONSTRUCTION INC 321 N CLARK 5TH FLOOR CHICAGO IL 60654 BUILDING CONTRACTOR 855486 ELLUCIAN COMPANY LP 4 COUNTRY VIEW ROAD MALVERN PA 19355 BANNER SOFTWARE 544598 35 X 0 0 434615 0 3006316 13646454 304531 17087385 Tuition and fees 611310 108746580 108746580 Non Credit Programs 611310 667176 667176 Auxillary Income 611710 7552867 7552867 0 0 0 0 116966623 4147366 4147366 10667 10667 592052 50095 69457 5870 522595 44225 566820 0 121396 445424 4546346 2220 3646292 0 900054 2220 902274 902274 106312 434615 182176 -75864 0 -75864 Hotel and Conference Services (net) 900099 -1304428 -1304428 Bookstore and Vending machine commissions 900099 99234 99234 Intercollegiate Athletics Revenue 900099 22493 22493 42644 23267 0 19377 -1140057 138465214 117111617 -1183032 5449244 0 0 28899756 28899756 2036124 2036124 0 0 3719751 3161789 446370 111592 0 0 0 0 47220652 40137554 5666478 1416620 2628582 2234295 315430 78857 7106242 6040306 852749 213187 3542771 3011356 425132 106283 374757 318543 44971 11243 272105 231289 32653 8163 0 0 0 0 0 0 223960 190366 26875 6719 4323756 3675193 518850 129713 1143640 972094 137237 34309 2191676 1862925 263001 65750 2710438 2303872 325253 81313 4818 4095 579 144 5791203 4922523 694944 173736 980936 833796 117712 29428 0 0 0 0 173148 147176 20778 5194 12467582 10597445 1496110 374027 0 0 0 0 7760025 6596021 931203 232801 514547 437365 61746 15436 Loss on NMTC unwind 14391098 0 14391098 0 Repairs and Maintenance 2705814 2299942 324698 81174 Student Meal Plan Cost 1872109 1872109 0 0 Expenses Related to Bond Defeasance 1395209 1185928 167425 41856 2715192 2307913 325823 81456 157165891 126279775 27587115 3299001 4065515 3287400 50431595 28215089 2470354 2205556 19692728 16734907 0 0 0 0 4237113 0 0 0 19677583 20789730 280046630 97320066 205986755 182726564 110593729 124264466 0 15114045 15388750 0 0 9700000 15254500 441969417 408866962 8456409 6585526 0 0 58163668 57592524 218617931 202984593 0 0 0 0 0 0 0 0 452449 217999 285690457 267380642 X 51778830 21083326 46617037 55094591 57883093 65308403 0 0 0 0 0 0 156278960 141486320 441969417 408866962 X -18700677 6599906 0 0 0 -2691869 X false true X true true true X 0 10509525 10991458 9484905 32680387 17087385 80753660 0 0 10509525 10991458 9484905 32680387 17087385 80753660 26588789 54164871 5720575 4692280 4171936 4274391 4800180 23659362 0 0 0 0 0 0 328853 336782 403010 1888326 270683 3227654 107640676 663798975 0.5032 0.7745 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - FUNDRAISING REVENUE, COLUMN A - 119110.0, COLUMN B - 120338.0, COLUMN C - 167124.0, COLUMN D - 83451.0, COLUMN E - 106312.0, COLUMN F - 596335.0; DESCRIPTION - SEMINAR LECTURE AND EVENTS, COLUMN A - 63379.0, COLUMN B - 102787.0, COLUMN C - 49825.0, COLUMN D - 65696.0, COLUMN E - 16130.0, COLUMN F - 297817.0; DESCRIPTION - MISCELLANEOUS, COLUMN A - 146364.0, COLUMN B - 113657.0, COLUMN C - 186061.0, COLUMN D - 99179.0, COLUMN E - 148241.0, COLUMN F - 693502.0; DESCRIPTION - GAIN ON NMTC UNWIND, COLUMN A - 0.0, COLUMN B - 0.0, COLUMN C - 0.0, COLUMN D - 1640000.0, COLUMN E - 0.0, COLUMN F - 1640000.0; X X false 112793820 7475823 10645965 5127158 0 0 125788450 82620973 25666281 8489064 3982498 0 0 112793820 80836945 1299384 7545521 7060877 0 0 82620973 89803787 911961 -6164855 3713948 0 0 80836945 80721856 204185 12383940 3506194 0 0 89803787 0.1554 0.5192 0.3254 true false 25097552 25097552 245928971 92045568 153883403 1498155 882454 615701 6966454 4392044 2574410 555498 0 555498 182726564 Student deposits 217999 217999 X Schedule D, Part III, Line 1a Collections of art - financial statement footnote The University has collections of valuable papers and other memorabilia that were donated to the University. These papers are on display and are used by educators, researchers, historians, and others. The value of these collections is not included in the financial statements. Schedule D, Part III, Line 4 Collections of art - description of collections The University has collections of valuable papers and other memorabilia that were donated to the University. These papers are on display and are used by educators, researchers, historians, and others. Schedule D, Part V, Line 4 Intended uses of endowment funds The Endowment Fund is intended to provide for the operation and special programs of the University. In so doing, the Endowment Fund provides a secure, long-term source of funds to establish or maintain programs which are consistent with the aim of the University. Those aims may include, but are not limited to: maintaining a chair for each of the University's educational departments; providing funds for specific research projects approved by the board; and providing scholarships. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote Roosevelt, Theatre, RUDC, and RUDC SPE are not-for-profit entities as described in Section 501(c)(3) of the Internal Revenue Code (IRC) and are exempt from federal income taxes on related income pursuant to Section 501(a) of the IRC. Roosevelt, Theatre, RUDC and RUDC SPE are subject to income taxes only to the extent of unrelated business income. No provision has been made for income taxes in the accompanying financial statements, as the University has had no significant unrelated business income during the year. The University accounts for uncertainty in income taxes under guidance issued by the FASB. A tax position is recognized as a benefit only if it is "more likely than not" that the tax position would be sustained in a tax examination, with a tax examination being presumed to occur. The amount recognized is the largest amount of tax benefit that is greater than 50% likely of being realized on examination. For tax positions not meeting the "more likely than not" test, no tax benefit is recorded. As of August 31, 2018 and 2017, there were no uncertain tax positions identified. The University does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months. Forms 990 and 990-T filed by the University are subject to examination by the Internal Revenue Service (IRS) up to three years from the extended due date of each return. Management believes the Forms 990 and 990-T have been filed appropriately. University would recognize interest and penalties related to unrecognized tax positions in interest and income tax expense, respectively. University has no amounts accrued for interest or penalties as of August 31, 2018 and 2017. true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY In all recruitment publications sent to prospective students, Roosevelt University's racially nondiscriminatory policy appears. The policy states that Roosevelt University does not discriminate against regarding employment because of age, ancestry, citizenship, color, creed, disability, gender, gender identity, marital status, military status, national origin, parental status, race, religion, sexual orientation, source of income, unfavorable discharge from military service, veteran status, or as a result of being the victim of domestic or sexual violence. The policy extends to recruitment, hiring, training, compensation, promotion, demotion, transfer, layoff, termination, and other terms and conditions of employment. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT The University receives significant financial support from governmental agencies in the form of grants. The disbursement of funds received under such programs generally requires compliance with terms and conditions specified in the grant agreements and is subject to audit by grantor agencies. The grant agreements provide for possible auditing of expenditures by grantor agencies and possible disallowance of certain expenditures. true East Asia and the Pacific 0 0 Grantmaking N/A 910730 Europe (Including Iceland and Greenland) 0 0 Grantmaking N/A 259475 North America (Canada & Mexico only) 0 0 Grantmaking N/A 196035 South Asia 0 0 Grantmaking N/A 194636 South America 0 0 Grantmaking N/A 191403 Sub-Saharan Africa 0 0 Grantmaking N/A 127646 Russia and Neighboring States 0 0 Grantmaking N/A 125199 Middle East and North Africa 0 0 Grantmaking N/A 19500 Central America and the Caribbean 0 0 Grantmaking N/A 11500 0 0 0 0 0 0 2036124 0 2036124 SCHOLARSHIPS East Asia and the Pacific 81 910730 Credit Accrual 0 N/A N/A SCHOLARSHIPS Europe (Including Iceland and Greenland) 22 259475 Credit Accrual 0 N/A N/A SCHOLARSHIPS North America (Canada & Mexico only) 11 196035 Credit Accrual 0 N/A N/A SCHOLARSHIPS South Asia 33 194636 Credit Accrual 0 N/A N/A SCHOLARSHIPS South America 12 191403 Credit Accrual 0 N/A N/A SCHOLARSHIPS Sub-Saharan Africa 18 127646 Credit Accrual 0 N/A N/A SCHOLARSHIPS Russia and Neighboring States 14 125199 Credit Accrual 0 N/A N/A SCHOLARSHIPS Middle East and North Africa 2 19500 Credit Accrual 0 N/A N/A SCHOLARSHIPS Central America and the Caribbean 9 11500 Credit Accrual 0 N/A N/A false false false false false false Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds THE FINANCIAL AID OFFICE MONITORS THE PROCESS THROUGH DIRECT WIRE TRANSFERS TO INDIVIDUAL STUDENT ACCOUNTS Schedule F, Part I, Line 2 PROCEDURES FOR MONITORING USE OF GRANT FUNDS THE FINANCIAL AID OFFICE MONITORS THE PROCESS THROUGH DIRECT WIRE TRANSFERS TO INDIVIDUAL STUDENT ACCOUNTS Real Estate Gala 415041 327641 87400 1965 10708 101492 38210 Robin Golf Outing 58141 43255 14886 6860 6142 3032 1 67745 63719 4026 12696 1071 540927 434615 106312 1965 17568 120330 42313 182176 -75864 true SCHOLARSHIPS 2742 28899756 0 N/A N/A Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. After the initial review and approval by the appropriate employees at the grant department level, the paperwork for grant expenditures are then passed on to the next review and approval level by an applicable College or Departmental Administrator of grant expenditures. Upon approval, the paperwork is sent to the Senior Grants Accountant for review and approval prior to payment processing of the grant expenditures. The scholarships to students are administered by the financial aid office. The scholarship amounts are internally credited to the individual students' billed tuition to ensure funds are used for their intended purpose. X X true true X X X X true true false false false false false false false DR ALI R MALEKZADEH PRESIDENT & CEO 417952 0 74375 0 45792 0 66383 0 9361 0 613863 0 0 0 DR CAROLYN WILEY TRUSTEE 130621 0 0 0 1234 0 10204 0 9387 0 151446 0 0 0 DR MICHAEL D FORD ASSISTANT SECRETARY 133936 0 0 0 151 0 10465 0 9392 0 153944 0 0 0 TANGELLA S MADDOX INTERIM TREASURER UNTIL 5/31/18 214355 0 0 0 180 0 11626 0 12048 0 238209 0 0 0 DR LOIS S BECKER PROVOST/EXEC VP ACAD AFFAIRS 244907 0 0 0 792 0 7152 0 30415 0 283266 0 0 0 HENRY FOGEL DEAN CCPA 174006 0 0 0 2472 0 14261 0 20193 0 210932 0 0 0 DR BONNIE J GUNZENHAUSER DEAN COLLEGE OF ARTS & SCIENCES 171515 0 0 0 180 0 13995 0 13623 0 199313 0 0 0 DR MELISSA L HOGAN DEAN COLLEGE OF PHARMACY 219162 0 0 0 166 0 17756 0 16526 0 253610 0 0 0 DONALD E JONES JR FORMER VP INSTITUTIONAL ADVANCEMENT 277338 0 0 0 5542 0 17055 0 15996 0 315931 0 4750 0 NEERAJ KUMAR VP INFO TECH AND CIO 183042 0 0 0 180 0 15440 0 32339 0 231001 0 0 0 DR THOMAS R PHILION DEAN EDUCATION 153792 0 0 0 501 0 11816 0 478 0 166587 0 0 0 TERRY C RICHARDS INTERIM VP ENROLL MGMT UNTIL 1/3/18 169912 0 0 0 0 0 0 0 9754 0 179666 0 0 0 DR JOSEPH O CHAN PROFESSOR OF INFORMATION SYSTEMS 146799 0 0 0 92874 0 10837 0 541 0 251051 0 0 0 DR SAMUEL ROSENBERG VICE PROVOST ACADEMIC AFFAIRS 193912 0 0 0 1524 0 14190 0 21865 0 231491 0 0 0 DR GORDON L PATZER PROFESSOR OF MARKETING 175020 0 0 0 0 0 13811 0 11965 0 200796 0 0 0 DR TANWEER HASAN PROFESSOR OF FINANCE/ACCTG 162619 0 0 0 240 0 10627 0 6428 0 179914 0 0 0 DAVID L FUNK ASOC PROF REAL ESTATE 157859 0 0 0 496 0 12275 0 9232 0 179862 0 0 0 PAUL M MCGUINNESS FORMER VP OF ENROLLMENT MGMT 124000 0 0 0 0 0 0 0 21 0 124021 0 0 0 Schedule J, Part I, Line 1a Housing allowance or residence for personal use The President receives a housing allowance which is included in his taxable compensation. Schedule J, Part I, Line 1a Health or social club dues or initiation fees Social club dues paid for the President are for business use and are not included in his taxable compensation. Schedule J, Part I, Line 4a Severance or change-of-control payment Dr. Joseph Chan, Severance $91,350 Paul McGuinness, Severance $100,000 Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan The President and VP of Institutional Advancement have deferred compensation arrangements per their contract. $45,000 was deferred for the President and $9,500 for the VP of Institutional Advancement this tax year. $4,750 was distributed for the VP of Institutional Advancement this tax year. A Illinois Finance Authority 861091967 45200FCN7 45607613 See Part V false false false B Illinois Finance Authority 861091967 45200FF46 180442121 See Part V true false false A 2525000 0 45607613 0 0 0 281660 0 0 45325953 0 0 2008 false false true true B 5665000 14170000 180442121 13421870 19395315 33222493 2300772 0 0 112101671 0 0 2012 true false true true A false true false false 0.0 0.0092 0.0092 false false true B false false true true false 0.0269 0.0269 false false true A false false false true false false false NA false true B false false false true false false false NA false true A true B true -1 Bond Issues - Description of Purpose The proceeds from the bonds issued 12/9/2009 were used to (1) finance the costs of the construction, acquisition, renovation, improvement and equipping of a mixed-use academic center and student housing facility of the University, the Wabash Development Project; (2) finance various capital improvements at the University's Chicago and Schaumburg campuses; (3) pay capitalized interest with respect to certain portions of the Wabash Development Project; (4) refund the Illinois Development Finance Authority's Variable Rate Demand Revenue Bonds, Series 1995, 2000 and 2002; (5) fund a Debt Service Reserve Fund; and (6) pay certain costs of issuance relating to the Series 2009 bonds. -1 Bond Issues - Description of Purpose The proceeds of the bonds issued on 12/14/2007 were used for (1) acquisition, renovation and equipping of certain floors of the Gage Building in Chicago; (2) the acquisition, demolition and site clearing of structures relating to the Fine Arts Annex building and the Herman Crown Center; (3) various renovations, including upgrades and replacements, to the Auditorium Building's HVAC system; (4) various life safety improvements, as well as other renovations and remodeling, at the Auditorium Building; (5) the acquisition of certain land and related development rights near the main campus; and (6) various capital improvements at the University's Chicago and Schaumburg campuses. Schedule K, Part IV, Line 2c COLUMN A Issuer name: Illinois Finance Authority The calculation for computing no rebate due was performed on 12/14/2017 Schedule K, Part IV, Line 2c COLUMN B Issuer name: Illinois Finance Authority The calculation for computing no rebate due was performed on 01/19/2015 NA - SEE PART V N/A - SEE PART V 23992 MERIT BASED SCHOLARSHIP Academic Schedule L, Part V GRANTS OR ASSISTANCE BENEFITING INTERESTED PERSONS A TOTAL OF $23,992 OF MERIT SCHOLARSHIPS WERE PROVIDED TO STUDENT TRUSTEES. THE UNIVERSITY IS NOT REQUIRED TO IDENTIFY THE INTERESTED PERSON(S) TO WHOM IT PROVIDED SCHOLARSHIPS, FELLOWSHIPS, AND SIMILAR FINANCIAL ASSISTANCE; THEREFORE, COLUMNS (A) AND (B) ARE NOT APPLICABLE. X 17 214561 Market value X Equipment and Repair Materials 117 81603 Market value X Guitar 1 6000 Market value X Raffle prizes for Golf Outing 18 2367 Market value 0 false true false Schedule M, Part I, Line 9 Securities - Publicly Traded Reported the number of contributions received from donors. Schedule M, Part I, Line 25 Other Reported the number of contributions received from donors. Form 990, Part I, Line 7a DIFFERENCE BETWEEN PART I LINE 7A AND FORM 990-T THE FORM 990-T SHOWS UNRELATED BUSINESS INCOME IN THE AMOUNT OF $(926,487). THIS AMOUNT INCLUDES DISALLOWED TRANSPORTATION FRINGE BENEFITS, WHICH IS NOT REFLECTED ON FORM 990, PART VIII, COLUMN C. AS A RESULT, FORM 990, PART I, LINE 7A IS $(1,183,032). Form 990, Part VI, Line 1a Delegate broad authority to a committee The Executive Committee has broad authority to oversee the work of the Board and its committees, advise the President, and otherwise expedite the work of the Board of Trustees. The function of the Audit Committee is oversight. The purpose of the Audit Committee is to assist the Board of Trustees of Roosevelt University: I. In its oversight of the University's accounting and financial reporting principles and policies and internal accounting and disclosure controls and procedures; II. In its oversight of University's financial statements and the independent external audit thereof; III. In its oversight of the University's Federal Financial Assistance Single Audit; IV. In its evaluation of the independence of the external auditors; V. In its oversight of the University's internal audit function, addressing University policies, standards, and operations; VI. In its oversight of related party transactions. Form 990, Part VI, Line 11b Review of form 990 by governing body Management performed a review of the Form 990. After management's review, the audit committee also reviewed the return. Prior to filing the return with the IRS, A COPY OF THE RETURN WAS PROVIDED TO ALL VOTING MEMBERS OF THE BOARD. Form 990, Part VI, Line 12c Conflict of interest policy Each interested person is provided an electronic questionnaire annually to complete and disclose any conflicts. The process is monitored and the questionnaires are reviewed by the Assistant Secretary to the Board of Trustees. If any conflicts are disclosed those interested persons are asked to abstain from voting on the item related to the conflict. Form 990, Part VI, Line 15a Process to establish compensation of top management official The Board of Trustees appointed a compensation committee consisting of five (5) independent Roosevelt University Board of Trustee members. The Executive Compensation Committee (the "Committee") of the Board of Trustees of Roosevelt University shall review and approve the cash and non-cash compensation policies and programs and major changes in the University's benefit plans that are applicable to the President of the University and other designated senior personnel as determined by the Committee. This process is done on an annual basis. The process with respect to the President: 1. Request the President to complete a self-evaluation of goals and accomplishments for the prior year; 2. Once the self-evaluation is complete, the President submits the assessment to the compensation committee; 3. The committee reviews and discusses the assessment and reviews the data against the pre-established and agreed upon goals and accomplishments set for the year; 4. The committee compiles and reviews available comparable data for the compensation of other college and university presidents within the peer group established for the University. This comparable data is available both from IRS Form 990's filed by those institutions and from the data collected by the College and University Personnel Association (CUPA). The Associate VP for Human Resources is also involved to help summarize the data and compare it to peer group presidents on a median, mean and ranked basis; 5. The employment contract is reviewed and a salary increase and bonus is discussed; 6. The committee meets up to three times to deliberate and establish recommendations; 7. The recommendations are presented to the executive committee for approval The deliberations and decisions regarding the compensation arrangements are documented contemporaneously. Form 990, Part VI, Line 15b Process to establish compensation of other employees The Executive Compensation Committee (the "Committee") of the Board of Trustees of Roosevelt University shall review and approve the cash and non-cash compensation policies and programs and major changes in the University's benefit plans that are applicable to the President of the University and other designated senior personnel as determined by the Committee. This process is done on an annual basis. The process with respect to other executives: 1. Review and approve the President's recommendations on which positions will be covered by the policy; 2. Review with the President and approve the annual written performance goals of the other individuals covered by the Policy; 3. Review and approve the President's decisions to adjust compensation for other senior executives after the President's completion of the annual review of their performance. The deliberations and decisions regarding the compensation arrangements are documented contemporaneously. Form 990, Part VI, Line 19 Required documents available to the public Governing documents, conflict of interest policies and financial statements are not required disclosures pursuant to internal revenue code (IRC) section 6104. These documents are not available to the public at this time. Form 990, Part VIII, Line 11d Other Miscellaneous Revenue Seminar and lecture fees - Total Revenue: 16130, Related or Exempt Function Revenue: 16130, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Miscellaneous Income - Total Revenue: 26514, Related or Exempt Function Revenue: 7137, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 19377; Form 990, Part IX, Line 24a Loss on NMTC Unwind During FY 2018, the 7-year compliance period ended for the NMTC transaction and pursuant to the project documents, all management and servicing agreements between the parties were terminated. Simultaneously, the University paid $77,069 for cancellation of the University's leverage loan to the investment fund under a "put" option as provided for under the original Project documents, resulting in assignment of the remaining NMTC loans (owed by Roosevelt University Development Corporation) to Roosevelt University. The notes receivable of $14,814,798 and notes payable of 14,836,908 between the parties were forgiven. In addition, intercompany receivable and payable of $423,700 between the parties were also written off. These resulted in a net loss of $14,391,098 for Roosevelt University and a net gain of $14,413,208 for Roosevelt University Development Corporation. In conjunction with the termination and unwind of the Project, the NMTC entities were no longer needed to carry out the intent they originally served, the University, on its own behalf as the sole member of RUDC, dissolved the Roosevelt Development Corporation, conveying all assets to Roosevelt University. Form 990, Part XI, Line 9 Other changes in net assets or fund balances Unrealized loss on assets held for sale - -2691869; RUDC State SPE LLC 430 S Michigan Ave Chicago IL 60605 (SEE STATEMENT) DE 0 0 Roosevelt University AUDITORIUM THEATRE OF ROOSEVELT UNIVERSITY INC 50 East Ida B Wells Dr CHICAGO IL 60605 363145476 PERFORMING ARTS IL 501(c)(3) 7 ROOSEVELT UNIVERSITY true ROOSEVELT UNIVERSITY DEVELOPMENT CORPORATION 430 SOUTH MICHIGAN AVENUE CHICAGO IL 606051315 274036050 CHARITABLE AND EDUCATIONAL IL 501(c)(3) Type I ROOSEVELT UNIVERSITY true false false false false false false false false true true true true true true true true false false AUDITORIUM THEATRE OF ROOSEVELT UNIVERSITY J 100000 CASH AUDITORIUM THEATRE OF ROOSEVELT UNIVERSITY K 135025 CASH ROOSEVELT UNIVERSITY DEVELOPMENT CORPORTATION K 474874 CASH Schedule R, Part I, Column (b) Primary Activity operated exclusively for charitable, scientific and educational purposes of Roosevelt University, a corporation that is itself organized and operated exclusively for charitable, scientific, and educational purposes