2017-05-12T12:47:41-05:00 2016-06-30 PRICEWATERHOUSECOOPERS LLP 600 13TH STREET NW SUITE 1000 WASHINGTON DC 20005 990 2015-07-01 540505965 UNIVERSITY OF RICHMOND % LAURIE F MELVILLE UNIV 8042898150 201 MARYLAND HALL RICHMOND VA 231730001 DAVID B HALE VP FOR BUS. & FIN., TREASURER 8044841523 2017-05-12 true TRAVIS L PATTON P00369623 2024141000 2017-05-12 2015 2021-01-29 14:40:06Z RONALD A CRUTCHER 201 MARYLAND HALL RICHMOND VA 231730001 890053921 false X WWW.RICHMOND.EDU X 1830 VA TO OPERATE A UNIVERSITY FOR ACADEMIC, SCIENTIFIC, AND PROFESSIONAL EDUCATION AND LEARNING. 24 22 4865 2007 7866769 -1698364 25937654 20299346 200198859 202879566 76515572 142429897 33263277 34852400 335915362 400461209 74034215 75009664 0 0 161918264 171121588 156396 149050 10325207 94105297 102903786 330214172 349184088 5701190 51277121 2854649911 2688942567 319497803 344393881 2535152108 2344548686 X THE MISSION OF THE UNIVERSITY OF RICHMOND IS TO SUSTAIN A COLLABORATIVE LEARNING AND RESEARCH COMMUNITY THAT SUPPORTS THE PERSONAL DEVELOPMENT OF ITS MEMBERS AND THE CREATION OF NEW KNOWLEDGE. THE RICHMOND PROMISE, THE UNIVERSITY'S STRATEGIC PLAN ESTABLISHES HOW RICHMOND WILL PURSUE ITS MISSION. THE LARGER PURPOSE IS TO OPERATE AS A MODEL INSTITUTION OF HIGHER EDUCATION SUSTAINING A SUPERB FACULTY AND STAFF, AND ADMINISTERING THE INSTITUTION WITH THE HIGHEST STANDARDS OF INNOVATION AND PROFESSIONALISM. THE STRATEGIC PLAN AIMS TO FULFILL THE MISSION ESTABLISHED BY THE BOARD OF TRUSTEES: TO "SUSTAIN A COLLABORATIVE LEARNING AND RESEARCH COMMUNITY THAT SUPPORTS THE PERSONAL DEVELOPMENT OF ITS MEMBERS AND THE CREATION OF NEW KNOWLEDGE. A RICHMOND EDUCATION PREPARES STUDENTS TO LIVE LIVES OF PURPOSE THOUGHTFUL INQUIRY, AND RESPONSIBLE LEADERSHIP IN A GLOBAL AND PLURALISTIC SOCIETY." false false 156712118 74632495 183368824 INSTRUCTION - SEE SCHEDULE O 45643813 0 0 ACADEMIC SUPPORT - SEE SCHEDULE O 50278902 0 36546020 AUXILIARY ENTERPRISES - SEE SCHEDULE O 32438132 377169 0 285072965 true true false false false false false true false true true true false false true true false true true false true false true true false false false true true true true false false false false false false false false true true true false false false true true true true false false true 6093 0 true 4865 true true true false false false false true true false false false false X 24 22 true false false false false false false true true false false true true true true true true true true false IL MD MA MI NH NY OK OR SC WI X LAURIE F MELVILLE 8042898150 201 MARYLAND HALL RICHMOND VA 231730001 PATRICIA ROWLAND RECTOR 7.0 0.0 X X 0 0 0 LEONARD W SANDRIDGE JR VICE-RECTOR 7.0 0.0 X X 0 0 0 RONALD A CRUTCHER PRESIDENT (AS OF 7/2015) 40.0 0.0 X X 212071 0 102989 STEPHEN J ARONSON TRUSTEE 2.0 0.0 X 0 0 0 ALAN W BREED TRUSTEE 2.0 0.0 X 0 0 0 TIMOTHY W FINCHEM TRUSTEE 2.0 0.0 X 0 0 0 ROGER L GREGORY TRUSTEE 2.0 0.0 X 0 0 0 JEFFREY M LACKER TRUSTEE 2.0 0.0 X 0 0 0 H HITER HARRIS III TRUSTEE 2.0 0.0 X 0 0 0 JOSEPH P JANGRO TRUSTEE 2.0 0.0 X 0 0 0 HERBERT H MCDADE III TRUSTEE 2.0 0.0 X 0 0 0 WILLIAM H MCLEAN TRUSTEE 2.0 0.0 X 0 0 0 LELAND D MELVIN TRUSTEE 2.0 0.0 X 0 0 0 LOUIS W MOELCHERT JR TRUSTEE 2.0 0.0 X 0 0 0 SD ROBERTS MOORE TRUSTEE 2.0 0.0 X 0 0 0 KAREN G O'MALEY TRUSTEE 2.0 0.0 X 0 0 0 PAUL B QUEALLY TRUSTEE 2.0 0.0 X 0 0 0 SUSAN G QUISENBERRY TRUSTEE 2.0 0.0 X 0 0 0 GREGORY S ROGOWSKI TRUSTEE 2.0 0.0 X 0 0 0 MICHAEL S SEGAL TRUSTEE 2.0 0.0 X 0 0 0 SUZANNE F THOMAS TRUSTEE 2.0 0.0 X 0 0 0 R LEWIS BOGGS TRUSTEE (AS OF 1/2016) 2.0 0.0 X 0 0 0 ALLISON P WEINSTEIN TRUSTEE 2.0 0.0 X 0 0 0 ROBERT E RIGSBY TRUSTEE 2.0 0.0 X 0 0 0 ANN LLOYD BREEDEN SECRETARY 40.0 0.0 X 223453 0 33799 DAVID B HALE VP BUSINESS & FINANCE/TREAS 40.0 0.0 X 384976 0 54007 JACQUELYN FETROW PROVOST & VP ACAD AFFAIRS 40.0 0.0 X 335147 0 49769 STEPHEN BISESE VP, STUDENT DEVELOPMENT 40.0 0.0 X 217418 0 42031 ROBIN BLANDFORD PRESIDENT, SMC 40.0 0.0 X 1519656 0 41113 KATHRYN MONDAY VP, INFO. SRVCS (UNTIL 2/2016) 40.0 0.0 X 240414 0 38237 WENDY PERDUE DEAN, LAW 40.0 0.0 X 369912 0 54987 LORRAINE SCHUYLER VP, PLAN. & POL., CH. OF STAFF 40.0 0.0 X 221551 0 37681 KATHLEEN SKERRETT DEAN, ARTS & SCI(UNTIL 5/2016) 40.0 0.0 X 236281 0 30000 PAUL COSTELLO COO, SMC 40.0 0.0 X 686672 0 71499 STEVEN HENDERSON DIRECTOR, SMC 40.0 0.0 X 651157 0 45729 CHRISTOPHER MOONEY BASKETBALL COACH 40.0 0.0 X 2272476 0 404211 KEVIN STOUDT DIRECTOR, SMC 40.0 0.0 X 530001 0 45265 MATTHEW WERNER DIRECTOR, SMC 40.0 0.0 X 547095 0 42885 STEPHEN ALLRED FMR PROVOST & VP ACAD AFFAIRS 40.0 0.0 X 271036 0 43251 EDWARD L AYERS FORMER PRESIDENT 40.0 0.0 X 663197 0 117937 ANNE TESSIER FORMER VP ENROLLMENT MGMT 40.0 0.0 X 109746 0 14815 JOHN DOUGLASS FORMER DEAN, LAW 40.0 0.0 X 263207 0 38219 ANDREW NEWCOMB FORMER DEAN, ARTS & SCIENCES 40.0 0.0 X 213158 0 36239 10168624 0 1344663 286 true true false HOURIGAN CONSTRUCTION CORP 1600 FOREST AVE RICHMOND VA 23229 CONSTRUCTION 15882686 KJELLSTROM LEE 1607 OWNBY LN RICHMOND VA 23220 CONSTRUCTION 10298728 C T PURCELL INC PO BOX 171 MONTPELIER VA 23192 EXCAVATING SERVICES 1436665 TRENT CORPORATION 1840 W BROAD STREET SUITE 400 RICHMOND VA 23233 CONSTRUCTION 1196240 FIRST CLASS CONTRACTING CENTRAL 1700 BROAD ROCK BLVD RICHMOND VA 23224 CONSTRUCTION 1027813 38 3209913 17089433 1870323 20299346 TUITION & FEES 611600 181672532 181672532 AUXILIARY ENTERPRISES 900099 20654004 19584702 1069302 SUMMER CAMPS & CONFERENCES 900099 553030 553030 202879566 124011531 -8017372 132028903 0 67015 67015 3555313 3555313 0 3555313 3555313 499018755 249078 480849467 18169288 249078 18418366 18418366 0 0 24071440 8743245 15328195 15271971 56224 INVESTMENT MANAGEMENT 525990 13547016 13547016 OTHER MISCELLANEOUS INCOME 900099 2354861 1696292 658569 15901877 400461209 218292512 7866769 154002582 377169 377169 71332885 71332885 3299610 3299610 0 5129853 1156889 3972964 942218 942218 128911181 102215473 21120493 5575215 9556259 7563653 1577860 414746 17311606 13499505 3096785 715316 9270471 7178220 1707764 384487 0 234404 6493 227911 486804 1200 485604 0 149050 149050 0 13176381 9570323 3021580 584478 1119873 965507 83993 70373 18870749 10833304 6894761 1142684 3846330 3359101 472273 14956 0 1342914 1189043 153871 9722557 8032040 1291449 399068 0 0 8903562 8276174 627388 0 24123180 22443383 1679797 1502278 1070520 431758 LIBRARY BOOKS & MATERIALS 5534752 5529048 3614 2090 EQUIP RENTAL & MAINTENANCE 4184404 1651378 2496516 36510 TAXES 2925190 76973 2848217 NONCAPITAL EQUIP./MATERIALS 1334429 767904 516931 49594 5595979 3734952 1074387 786640 349184088 285072965 53785916 10325207 0 0 31864509 81679123 21832467 13456453 6790762 7384054 0 0 0 0 9138820 8412730 2143841 2318075 6598219 4331206 724018764 372628632 333404334 351390132 86201699 100029072 2350202389 2084083957 0 0 0 0 6472871 35857765 2854649911 2688942567 31976551 27396990 0 0 7858992 7567901 226237490 203463050 0 0 0 0 0 0 0 40000000 53424770 65965940 319497803 344393881 X 1273554399 1176171920 885091173 783755332 376506536 384621434 2535152108 2344548686 2854649911 2688942567 X 51277121 -230369305 -11511238 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X false 2382914693 6414698 -89919766 135127849 -160431 2164442207 2349468126 10853584 138688911 116116208 -20280 2382914693 2038585054 18661355 339508185 47148938 137530 2349468126 1874291569 12917272 230944400 78604938 963249 2038585054 1888019289 18219571 50881421 81890794 937918 1874291569 0.49000 0.17000 0.34000 true true true 20740442 20740442 488729454 228612772 260116682 95993382 82540200 13453182 0 118555486 61475660 57079826 351390132 INVESTMENTS-HEDGE FUNDS 1305945658 F INVESTMENTS-PRIVATE EQUITY 505429959 F INVESTMENTS-OTHER FUNDS 270588985 F INVESTMENTS-COMMINGLED FUNDS 1783245 F INVESTMENTS-OTHER INVESTMENTS 336110 F 2084083957 2811454 FUNDS HELD BY OTHERS 255120 ANNUITIES PAYABLE 4248667 POST RETIREMENT BENEFITS 19405110 INTEREST RATE SWAP LIABILITY 34421010 US GOVERNMENT GRANTS REFUNDABLE 4824579 65965940 X PART III, LINE 1A: THE UNIVERSITYS COLLECTIONS OF HISTORICALLY SIGNIFICANT ARTIFACTS, SCIENTIFIC SPECIMENS, AND ART OBJECTS ARE HELD FOR EDUCATION, RESEARCH, SCIENTIFIC INQUIRY, AND PUBLIC EXHIBITION. THEIR VALUE IS NOT REFLECTED IN THE UNIVERSITYS CONSOLIDATED FINANCIAL STATEMENTS, AS PERMITTED BY U.S. GENERALLY ACCEPTED ACCOUNTING PRINCIPLES (GAAP). PART III, LINE 4: THE LIBRARY OWNS SEVERAL THOUSAND RARE BOOKS, FACSIMILE SHEETS OF MEDIEVAL MUSIC, AND PORTRAITS OF FIGURES ASSOCIATED WITH THE UNIVERSITY'S HISTORY. THESE ARE USED FOR TEACHING, STUDY, AND RESEARCH. THE COLLECTIONS OF THE UNIVERSITY MUSEUMS INCLUDE FINE ART, ARTIFACTS, AND DECORATIVE ARTS, DATING FROM THE ANCIENT CULTURES IN GREECE AND CHINA TO CONTEMPORARY WORKS OF ART. THE MUSEUMS PROVIDE THE OPPORTUNITY FOR THE APPRECIATION, KNOWLEDGE, RESEARCH, AND SCHOLARSHIP OF ART, CULTURAL HISTORY, AND SCIENCE THROUGH ON-CAMPUS AND TRAVELING EXHIBITIONS, SCHOLARLY PUBLICATIONS AS WELL AS ACADEMIC AND PUBLIC EDUCATIONAL PROGRAMS. THESE PROGRAMS INCLUDE SPECIAL COURSES, LECTURES, GALLERY TALKS, ARTISTS' RESIDENCIES, WORKSHOPS, SYMPOSIA, AND OTHER EVENTS. THE MUSEUMS' EDUCATION AND RESEARCH ACTIVITIES COMPLEMENT AND SUPPORT THE EDUCATIONAL MISSION OF THE UNIVERSITY OF RICHMOND BY BEING INTEGRATED WITH THE UNIVERSITY'S ACADEMIC PROGRAMS AND UTILIZING STUDENT, FACULTY, AND STAFF INVOLVEMENT, INTERNSHIPS, RESEARCH FELLOWSHIPS, AND WORK/STUDY POSITIONS FOR STUDENTS TO ENHANCE THE MUSEUMS' OFFERINGS. PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT CONSISTS OF APPROXIMATELY 1,350 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES, SUCH AS SCHOLARSHIPS AND CONTRIBUTIONS TO EDUCATIONAL AND GENERAL EXPENSES. THE SPENDING POLICY ALLOWS ENDOWMENT FUNDS TO MEET CURRENT OPERATING NEEDS OF THE UNIVERSITY BY PROVIDING YEAR-TO-YEAR BUDGET STABILITY, AND PROTECTS THE FUTURE PURCHASING POWER OF THE ENDOWMENT ASSETS AGAINST THE IMPACT OF INFLATION. PART X, LINE 2: UNCERTAIN TAX POSITION FOOTNOTE THE UNIVERSITY IS A TAX-EXEMPT ORGANIZATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE CODE). AS SUCH, THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAXES TO THE EXTENT PROVIDED UNDER SECTION 501 OF THE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES IS MADE IN THE CONSOLIDATED FINANCIAL STATEMENTS. WHEN APPLICABLE, THE UNIVERSITY RECOGNIZES INTEREST ACCRUED RELATED TO UNRECOGNIZED TAX BENEFITS AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN ACCOUNTS PAYABLE AND OTHER LIABILITIES. NO INTEREST EXPENSE OR PENALTIES HAVE BEEN RECOGNIZED AS OF AND FOR THE YEAR ENDED JUNE 30, 2016. THE TAX YEARS THAT REMAIN SUBJECT TO EXAMINATION BY THE MAJOR TAX JURISDICTIONS UNDER THE STATUTE ARE FROM THE YEAR 2012 FORWARD. THE RICHMOND FUND, RFMC AND RICHMOND QUANDRANGLE, LLC DO NOT RECORD PROVISIONS FOR INCOME TAXES BECAUSE THE PARTNERS AND MEMBERS REPORT THEIR SHARE OF THE ENTITIES' INCOME OR LOSS ON THEIR RESPECTIVE INCOME TAX RETURNS. true true true true true true true false false false false false false false false true false true PART I, LINE 3: A POLICY OF NON-DISCRIMINATION IS CONTAINED IN ALL UNIVERSITY CATALOGS AND GENERAL SEARCH PUBLICATIONS SENT TO HIGH SCHOOLS AND POTENTIAL APPLICANTS, IN ENROLLMENT APPLICATIONS, AND ON-LINE CATALOGS. PART I, LINE 6A: THE UNIVERSITY RECEIVES FINANCIAL SUPPORT FROM AGENCIES OF THE FEDERAL GOVERNMENT TO PROVIDE FINANCIAL AID TO STUDENTS AND FOR RESEARCH PURPOSES. ADDITIONAL FINANCIAL AID SUPPORT IS RECEIVED FROM AGENCIES OF THE COMMONWEALTH OF VIRGINIA. A COMPLETE LIST OF AGENCIES AND AMOUNTS IS ON FILE. true Central America and the Caribbean Investments 1099647045 Europe (Including Iceland and Greenland) Investments 30511042 North America Investments 49857872 Sub-Saharan Africa Investments 2704621 East Asia and the Pacific 5 Program Services STUDY ABROAD 218379 Europe (Including Iceland and Greenland) 23 Program Services STUDY ABROAD 1073783 Middle East and North Africa 1 Program Services STUDY ABROAD 2560 South America 5 Program Services STUDY ABROAD 32556 Central America and the Caribbean Grantmaking 28495 East Asia and the Pacific Grantmaking 428235 Europe (Including Iceland and Greenland) Grantmaking 2357508 Middle East and North Africa Grantmaking 106978 South America Grantmaking 211011 South Asia Grantmaking 119233 Sub-Saharan Africa Grantmaking 48150 34 34 1187347468 1187347468 STUDY ABROAD SCHOLARSHIPS Central America and the Caribbean 1 28495 STUDENT ACCT STUDY ABROAD SCHOLARSHIPS East Asia and the Pacific 56 428235 STUDENT ACCT STUDY ABROAD SCHOLARSHIPS Europe (Including Iceland and Greenland) 303 2357508 STUDENT ACCT STUDY ABROAD SCHOLARSHIPS Middle East and North Africa 11 106798 STUDENT ACCT STUDY ABROAD SCHOLARSHIPS South America 18 211011 STUDENT ACCT STUDY ABROAD SCHOLARSHIPS South Asia 6 119233 STUDENT ACCT STUDY ABROAD SCHOLARSHIPS Sub-Saharan Africa 8 48150 STUDENT ACCT true false true true true false PART I, LINE 2: GRANTS AWARDED TO INDIVIDUALS OUTSIDE THE UNITED STATES BY THE UNIVERSITY OF RICHMOND CONSIST OF FINANCIAL AID IN THE FORM OF SCHOLARSHIPS AND GRANTS TO STUDENTS STUDYING ABROAD. STUDENTS RECEIVING THESE GRANTS ARE DETERMINED TO BE WORTHY ON THE BASIS OF THE UNIVERSITY'S ASSESSMENT OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER SIMILAR CRITERIA. THE OFFICE OF FINANCIAL AID MONITORS STUDENTS' ELIGIBILITY FOR THESE FUNDS IN ACCORDANCE WITH INSTITUTIONAL POLICIES AND STANDARDS. X X X X X X X true RUFFALO CODY SOLICITOR CONSULTING false 0 149050 -149050 0 149050 -149050 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY true VA DEPT OF REHAB SERVICES 8004 FRANKLIN FARMS DR RICHMOND VA 23229 540756941 VA 45611 GRANT SUBAWARD GEORGE WASHINGTON UNIVERSITY 45155 RESEARCH PLACE ASHBURN VA 20147 530196584 501(C)(3) 86325 GRANT SUBAWARD VIRGINIA COMMONWEALTH UNIV 800 E LEIGH ST RICHMOND VA 23284 546001758 VA 128698 GRANT SUBAWARD YALE UNIVERSITY PO BOX 1873 NEW HAVEN CT 06508 060646973 501(C)(3) 27077 GRANT SUBAWARD UNIV OF MD CNTR FOR ENVIRON SCI PO BOX 775 CAMBRIDGE MD 21613 526002033 MD 19613 GRANT SUBAWARD STANFORD UNIVERSITY 3145 PORTER DRIVE PALO ALTO CA 94304 941156365 501(C)(3) 69845 GRANT SUBAWARD 6 STUDENT GRANTS AND SCHOLARSHIPS 2583 71332885 PART I, LINE 2: GRANTS AWARDED TO INDIVIDUALS BY THE UNIVERSITY OF RICHMOND CONSIST OF STUDENT FINANCIAL AID IN THE FORM OF SCHOLARSHIPS AND GRANTS. STUDENTS RECEIVING THESE GRANTS ARE DETERMINED TO BE WORTHY ON THE BASIS OF THE UNIVERSITY'S ASSESSMENT OF ACADEMIC ACHIEVEMENT, FINANCIAL NEED, AND OTHER SIMILAR CRITERIA. THE OFFICE OF FINANCIAL AID MONITORS STUDENTS' ELIGIBILITY FOR THESE FUNDS IN ACCORDANCE WITH INSTITUTIONAL POLICIES AND STANDARDS. GRANTS MADE TO ORGANIZATIONS LOCATED IN THE UNITED STATES WERE MADE PURSUANT TO THE UNIVERSITY'S POLICIES AND PROCEDURES FOR GRANT SUBAWARDS. SUBAWARD ACTIVITY IS MONITORED PRIMARILY BY THE GRANTS ACCOUNTING OFFICE. SUBAWARD DOCUMENTATION, INCLUDING INVOICES, RECEIPTS, PAYMENT REQUESTS AND SIMILAR RECORDS, IS REVIEWED BY GRANTS ACCOUNTING TO ENSURE COMPLIANCE WITH INSTITUTIONAL POLICIES, THE UNIFORM GUIDANCE, AND THE REQUIREMENTS OF THE GRANT AGREEMENT, AND APPROVED BY THE PRINCIPAL INVESTIGATOR. X X X false true X X X X false true false false true false false true false RONALD A CRUTCHER PRESIDENT (AS OF 7/2015) 203015 0 0 0 9056 0 20833 0 82156 0 315060 0 0 0 ANN LLOYD BREEDEN SECRETARY 220901 0 0 0 2552 0 20804 0 12995 0 257252 0 0 0 DAVID B HALE VP BUSINESS & FINANCE/TREAS 358501 0 16250 0 10225 0 36587 0 17420 0 438983 0 0 0 JACQUELYN FETROW PROVOST & VP ACAD AFFAIRS 309506 0 20000 0 5641 0 31894 0 17875 0 384916 0 0 0 STEPHEN BISESE VP, STUDENT DEVELOPMENT 217232 0 0 0 186 0 22570 0 19461 0 259449 0 0 0 ROBIN BLANDFORD PRESIDENT, SMC 569246 0 950063 0 347 0 26500 0 14613 0 1560769 0 0 0 KATHRYN MONDAY VP, INFO. SRVCS (UNTIL 2/2016) 239683 0 0 0 731 0 24465 0 13772 0 278651 0 0 0 WENDY PERDUE DEAN, LAW 359092 0 0 0 10820 0 36874 0 18113 0 424899 0 0 0 LORRAINE SCHUYLER VP, PLAN. & POL., CH. OF STAFF 219040 0 0 0 2511 0 20788 0 16893 0 259232 0 0 0 KATHLEEN SKERRETT DEAN, ARTS & SCI(UNTIL 5/2016) 236033 0 0 0 248 0 23688 0 6312 0 266281 0 0 0 PAUL COSTELLO COO, SMC 274313 0 411979 0 380 0 25292 0 46207 0 758171 0 0 0 STEVEN HENDERSON DIRECTOR, SMC 281585 0 369352 0 220 0 26500 0 19229 0 696886 0 0 0 CHRISTOPHER MOONEY BASKETBALL COACH 474230 0 10000 0 1788246 0 383639 0 20572 0 2676687 0 1461517 0 KEVIN STOUDT DIRECTOR, SMC 236620 0 293242 0 139 0 24717 0 20548 0 575266 0 0 0 MATTHEW WERNER DIRECTOR, SMC 238702 0 308311 0 82 0 23417 0 19468 0 589980 0 0 0 STEPHEN ALLRED FMR PROVOST & VP ACAD AFFAIRS 270641 0 0 0 395 0 26500 0 16751 0 314287 0 0 0 EDWARD L AYERS FORMER PRESIDENT 530919 0 0 0 132278 0 31467 0 86470 0 781134 0 0 0 ANNE TESSIER FORMER VP ENROLLMENT MGMT 103457 0 0 0 6289 0 11030 0 3785 0 124561 0 0 0 JOHN DOUGLASS FORMER DEAN, LAW 216313 0 0 0 46894 0 26297 0 11922 0 301426 0 0 0 ANDREW NEWCOMB FORMER DEAN, ARTS & SCIENCES 176479 0 0 0 36679 0 21837 0 14402 0 249397 0 0 0 PART I, LINE 1A: FIRST-CLASS OR CHARTER TRAVEL - THE MEN'S BASKETBALL COACH OCCASIONALLY TRAVELS WITH HIS TEAM BY MEANS OF CHARTER TRAVEL FOR SCHEDULED COMPETITIONS. THE VALUE IS NOT TREATED AS TAXABLE COMPENSATION. THE PRESIDENT IS PERMITTED TO FLY FIRST-CLASS FOR TRIPS EXCEEDING THREE HOURS IN DURATION. COMPANION TRAVEL THE UNIVERSITY'S TRAVEL POLICY REQUIRES ANY SPOUSE ACCOMPANYING A UNIVERSITY EMPLOYEE ON BUSINESS TRAVEL TO PAY FOR HIS OR HER OWN TRAVEL EXPENSES UNLESS UNIVERSITY PAYMENTS FOR SPOUSAL TRAVEL ARE PERMITTED IN THE EMPLOYEE'S EMPLOYMENT CONTRACT, WHICH HAS BEEN REVIEWED AND APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE UNIVERSITY PAID FOR SPOUSAL TRAVEL FOR AN OFFICER. IN THIS INSTANCE, FIRST-CLASS TRAVEL, UP TO A CONTRACTUALLY DEFINED LIMIT, WAS PERMITTED UNDER THE OFFICERS EMPLOYMENT CONTRACT. THE TRAVEL EXPENSE FOR THE OFFICERS SPOUSE WAS NOT TREATED AS TAXABLE COMPENSATION BECAUSE THE TRAVEL WAS FOR UNIVERSITY BUSINESS PURPOSES. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE - THE PRESIDENT IS REQUIRED TO LIVE ON CAMPUS IN A UNIVERSITY-PROVIDED HOME AS A CONDITION OF EMPLOYMENT. THE VALUE OF THIS LODGING IS NOT REPORTED AS TAXABLE COMPENSATION. PART I, LINE 1B: THE PROVISION OF NON-STANDARD BENEFITS IS DETERMINED BY THE PRESIDENT, FOR SENIOR LEADERS AND KEY EMPLOYEES, AND THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, FOR THE PRESIDENT. FACTORS CONSIDERED ARE WHETHER THE BENEFIT UNDER CONSIDERATION IS COMMONLY PROVIDED TO INDIVIDUALS IN SIMILAR POSITIONS AT SIMILAR ORGANIZATIONS; WHETHER THE BENEFIT IS NECESSARY FOR THE INDIVIDUAL TO SUCCESSFULLY FULFILL HIS OR HER JOB RESPONSIBILITIES; AND WHETHER, IN THE CONTEXT OF THE INDIVIDUAL'S OVERALL COMPENSATION, THE PROVISION OF THE NON-STANDARD BENEFIT IS REASONABLE. PART I, LINE 4B: CHRISTOPHER MOONEY DEFERRED $357,139 IN A SECTION 457(F) PLAN DURING 2015. HE RECEIVED A DISTRIBUTION FROM THE PLAN DURING THE YEAR IN THE AMOUNT OF $1,506,817, OF WHICH $1,461,517 WAS REPORTED IN PRIOR YEARS' FORM 990. PART I, LINE 5B: ROBIN BLANDFORD, STEVEN HENDERSON, AND PAUL COSTELLO RECEIVED BONUSES BASED ON THE GROSS REVENUES OF THE RICHMOND FUND MANAGEMENT COMPANY. THE BONUS AMOUNT FOR EACH INDIVIDUAL WAS CALCULATED AT CONTRACTUALLY DEFINED PERCENTAGES. PART I, LINE 7: DAVID HALE, JACQUELINE FETROW, STEVEN HENDERSON, PAUL COSTELLO, MATTHEW WERNER AND KEVIN STOUDT RECEIVED NON-FIXED PAYMENTS RELATED TO RECOGNITION AND/OR PERFORMANCE BONUSES. A VA COLLEGE BUILDING AUTHORITY 541249154 927781YF5 2011-02-28 45587682 REFUND PRIOR ISSUE false false false B VA COLLEGE BUILDING AUTHORITY 541249154 9277803U8 2004-08-05 15069000 REFUND PRIOR ISSUE false false false C VA COLLEGE BUILDING AUTHORITY 541249154 9277802U8 2004-08-05 30931000 CONSTRUCT SCIENCE BUILDING & FORUM false false false D VA COLLEGE BUILDING AUTHORITY 541249154 927781CR3 2006-11-08 38070000 REFUND PRIOR ISSUE false false false A 0 0 45587682 0 0 0 502682 0 0 0 45085000 0 2011 true false true true B 0 0 15069000 0 0 0 69000 0 0 0 15000000 0 1996 true false true true C 0 0 31070375 0 0 0 141136 0 0 30929239 0 0 2006 false false true true D 0 0 38070000 0 0 0 140000 30000 0 0 37900000 0 1997 true false true true A false false false true true 0 0.00090 0.00090 false false false true B 0 C false false false false 0 false false false true D 0 A false false true false false false 0 false 0 false true B false false false true true false 0 false 0 false true C false false false true true false 0 false 0 false true D false false true false true false 0 false 0 false true A true B true C true D true PART II, LINE 3: PART I, COLUMN (F) THE DATE OF ISSUE FOR EACH OF THE REFUNDING ISSUES IS AS FOLLOWS: CUSIP# 927781YF5 - 2009 CUSIP# 9277803U8 - 1994 CUSIP# 927781CR3 - 1991, 1996 CUSIP# 927781YDO - 1975, 1977, 1979, 1988, 2002 PART II, LINE 3: THE AMOUNT REPORTED ON PART II, LINE 3 FOR CUSIP# 927781E75 INCLUDES $23,507 OF INVESTMENT INCOME RECEIVED ON THE UNEXPENDED PROCEEDS. THE AMOUNT REPORTED ON PART II, LINE 3 FOR CUSIP# 927781CR3 INCLUDES $619,627 OF INVESTMENT INCOME RECEIVED ON THE UNEXPENDED PROCEEDS. PART IV, LINE 2C: CUSIP# 9277803U8 - REBATE COMPUTATION PERFORMED 8/17/09; CUSIP# 9277802U8 - REBATE COMPUTATION PERFORMED 8/17/09; CUSIP# 927781CR3 - REBATE COMPUTATION PERFORMED 3/24/10. A VA COLLEGE BUILDING AUTHORITY 541249154 927781CR3 2006-11-08 17830000 CONSTRUCT DORM & BOILER PLANT false false false B VA COLLEGE BUILDING AUTHORITY 541249154 927781YDO 2011-02-01 29846165 REFUND PRIOR ISSUE false false false C VA COLLEGE BUILDING AUTHORITY 541249154 927781E75 2012-11-06 61684083 CONSTRUCT STDNT HOUS & RENOV ARENA false false false A 0 0 18449627 0 0 0 66980 14282 0 18368365 0 0 2009 false false true true B 0 0 29846165 0 0 0 231165 0 0 0 29615000 0 2006 true false true true C 0 0 61707590 0 0 0 549940 0 0 61157650 0 0 2015 false false false true A false false false true true 0 0.00690 0.00690 false false false true B 0 C false false false false 0 0.00830 0.00830 false false false true A false false false true true false 0 false 0 false true B false false true false false false 0 false 0 false true C false true false false false false 0 false 0 false true A true B true C true NATHANIEL B AYERS FMLY MMBR OF FMR. OFFICER 54723 EMPLOYEE COMPENSATION false BRIAN A KELL FAMILY MEMBER OF OFFICER 21132 EMPLOYEE COMPENSATION false PROPERTY INVESTMENT ADVISORS TRUSTEE IS 50% OWNER 237236 INVESTMENT MGMT SERVICES false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 262741 LEASE PAYMENTS false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 3555313 LEASE PAYMENTS TO UNIVERSITY false SUBSTANTIAL CONTRIBUTOR SUBSTANTIAL CONTRIBUTOR 358726 PROFESSIONAL SERVICES false X 167 1705323 MARKET QUOTATION X 1 165000 APPRSL (BRGN SALE) 1 false true false PART I, COLUMN (B): THE AMOUNT SHOWN IN PART I, COLUMN (B) FOR "NUMBER OF CONTRIBUTIONS" REPRESENTS THE TOTAL NUMBER OF ITEMS CONTRIBUTED AND NOT NECESSARILY THE TOTAL NUMBER OF CONTRIBUTIONS CONTRIBUTED. FORM 990, PART III, PROGRAM SERVICE ACCOMPLISHMENTS: PART III, LINE 4A - INSTRUCTION - THE UNIVERSITY OF RICHMOND ENDEAVORS TO OFFER ITS STUDENTS THE HIGHEST QUALITY EDUCATION POSSIBLE, MAKING AVAILABLE TOP-OF-THE-LINE RESOURCES AND FACILITIES. BY MAINTAINING AN 8:1 FACULTY TO STUDENT RATIO, EACH STUDENT HAS THE OPPORTUNITY TO ENJOY A PERSONAL AND UNIQUE LEARNING EXPERIENCE. THE KEY CHARACTERISTICS OF THE UNIVERSITY'S INSTRUCTIONAL FOUNDATION ARE A CHALLENGING LEARNING ENVIRONMENT, SMALL CLASSES, A HIGH QUALITY OF STUDENT LIFE, A COORDINATE COLLEGE SYSTEM, A COMMITMENT TO SERVICE, OPPORTUNITIES FOR MORAL AND SPIRITUAL DEVELOPMENT, A MIXTURE OF ENRICHING ACADEMIC AND CO-CURRICULAR EXPERIENCES, A SENSE OF COMMUNITY, AND A SPIRIT OF INNOVATION. THERE ARE APPROXIMATELY 4,000 STUDENTS. PART III, LINE 4B - ACADEMIC SUPPORT - THE RESPECTIVE DEAN'S OFFICES OF EACH OF THE FIVE SCHOOLS OVERSEE THE MAINTENANCE AND DEVELOPMENT OF THE SCHOOL TO ENSURE THAT THEY MAINTAIN THE HIGH LEVEL OF ACADEMIC INTEGRITY THAT HAS BECOME THE STANDARD OF THE UNIVERSITY OF RICHMOND. THE UNIVERSITY OFFERS OPPORTUNITIES FOR CONTINUING EDUCATION IN EACH PROFESSOR'S SPECIALTY AS WELL AS IN NEW TEACHING METHODS AND TECHNOLOGY, WHILE FACULTY COMMITTEES WORK TOWARD CONTINUOUS IMPROVEMENT IN ALL AREAS OF STUDENT INSTRUCTION. ACADEMIC COMPUTING PROVIDES INFORMATION TECHNOLOGY TO ENHANCE THE ACADEMIC RESOURCES AVAILABLE TO PROFESSORS AND STUDENTS, AND TO THE COMMUNITY THROUGH THE UNIVERSITY LIBRARY. LECTURE FUNDS ARE SET ASIDE TO PAY FOR VISITING SPEAKERS ON TOPICS RELEVANT TO ACADEMIC STUDIES OFFERED. PART III, LINE 4C - AUXILIARY ENTERPRISES - THE HOUSING OFFICE STRIVES TO MAINTAIN A COMFORTABLE LIVING ENVIRONMENT FOR THE 92% OF THE STUDENT BODY THAT RESIDES ON CAMPUS EACH YEAR. DINING SERVICES AUGMENTS THESE EFFORTS BY ENSURING STUDENTS HAVE ACCESS TO EXEMPLARY SERVICE, OUTSTANDING QUALITY FOOD, WITH A PASSION AND COMMITMENT TO EXCELLENCE. THE BOOKSTORE ENSURES THAT MEMBERS OF THE UNIVERSITY COMMUNITY HAVE AN AFFORDABLE, CONVENIENT OPTION FOR UNIVERSITY OF RICHMOND TEXTBOOKS, GEAR, AND SUPPLIES. PRINTING SERVICES OFFERS TOP-QUALITY GRAPHIC COMMUNICATIONS FOR STUDENTS, FACULTY AND STAFF. THE ATHLETIC DEPARTMENT IS COMMITTED AND OBLIGATED TO THE PRINCIPLES OF INSTITUTIONAL CONTROL IN OPERATING ITS PROGRAMS IN A MANNER CONSISTENT WITH THE LETTER AND THE SPIRIT OF THE NCAA, ITS ATHLETIC CONFERENCES, AND UNIVERSITY RULES AND REGULATIONS. FORM 990, PART III, LINE 4D - OTHER PROGRAM SERVICES: STUDENT SERVICES - STUDENT DEVELOPMENT PROVIDES ON-CAMPUS PHYSICAL AND MENTAL HEALTH SERVICES, ACADEMIC AND CAREER COUNSELING, VARIOUS FRATERNITY, SORORITY AND EXTRACURRICULAR ACTIVITIES, AND ORGANIZATIONS THAT WORK TO UPHOLD THE UNIVERSITY'S CORE PRINCIPLES OF DIVERSITY AND INCLUSION. RECREATION AND WELLNESS PROVIDES THE CAMPUS COMMUNITY WITH OUTSTANDING RECREATIONAL FACILITIES, FITNESS AND WELLNESS PROGRAMS, INTRAMURALS, AND SPORT CLUBS. IT ALSO SUPPORTS MULTIPLE STUDENT GOVERNMENT ASSOCIATIONS, WHICH VOICE THE STUDENTS' CONCERNS AND OPINIONS, AS WELL AS SERVES AS A LIAISON BETWEEN STUDENTS AND ADMINISTRATION, FACULTY, AND STAFF. UNDERGRADUATE AND LAW SCHOOL ADMISSION OFFICES COUNSEL THOUSANDS OF PROSPECTIVE APPLICANTS AND MAKE THEM FEEL WELCOME AT THE UNIVERSITY, WHILE PROVIDING SUPPORT FOR ACCEPTED STUDENTS. THE UNIVERSITY LIBRARIES SERVE THE CAMPUS COMMUNITY AND THE PUBLIC AND ARE A DESIGNATED FEDERAL DOCUMENT REPOSITORY. EXPENSES: $23,193,600, INCLUDING GRANTS OF: $0. REVENUE: $0. RESEARCH - THE UNIVERSITY BELIEVES THAT ACADEMIC RESEARCH AT THE FACULTY, STAFF AND STUDENT LEVELS SIGNIFICANTLY IMPROVES THE QUALITY OF EDUCATION OF ALL STUDENTS. THUS, THE UNIVERSITY ENCOURAGES FACULTY, STUDENT AND STAFF RESEARCH BY OPERATING AN OFFICE OF CORPORATE, FOUNDATION AND GOVERNMENT RELATIONS TO ASSIST WITH APPLICATIONS FOR FUNDING; ALLOCATING FUNDS FOR STUDENT AND FACULTY SUMMER AND VACATION RESEARCH PROJECTS, AND TRAVEL TO PARTICIPATE AND PRESENT FINDINGS AT ACADEMIC CONFERENCES; PROVIDING LABS, STUDIOS AND SPECIALIZED CLASSROOMS FOR CONDUCTING RESEARCH; PROVIDING INFRASTRUCTURE NECESSARY TO CONDUCT RESEARCH; EMPLOYING NON-FACULTY PERSONNEL TO MANAGE RESEARCH-RELATED FACILITIES AND CONDUCT EXPERIMENTS. EXPENSES: $5,951,709, INCLUDING GRANTS OF: $377,169. REVENUE: $0. PUBLIC SERVICE - THE BONNER CENTER FOR CIVIC ENGAGEMENT (CCE) AT THE UNIVERSITY OF RICHMOND STRIVES TO BRING TOGETHER CAMPUS AND COMMUNITY MEMBERS IN COLLABORATIVE STUDY, REFLECTION, AND ACTION TO ADDRESS CONTEMPORARY SOCIAL ISSUES. BEYOND ORGANIZING VARIOUS SERVICE-ORIENTED EVENTS ELICITING PARTICIPATION FROM FACULTY, STAFF, AND STUDENTS, THE CCE ALSO ADMINISTRATES THE BONNER SCHOLARS PROGRAM (BSP). THE PROGRAM OFFERS FOUR-YEAR SCHOLARSHIP AWARDS TO STUDENTS WITH A SUSTAINED RECORD OF SERVICE AND A HIGH LEVEL OF FINANCIAL NEED. A DIVERSE GROUP OF APPROXIMATELY 100 STUDENTS CURRENTLY PARTICIPATES IN THE BSP AT THE UNIVERSITY OF RICHMOND, MAKING IT THE LARGEST BSP IN THE COUNTRY. THE UNIVERSITY'S OFFICE OF THE CHAPLAINCY SUPPORTS AND COORDINATES THE UNIVERSITY CAMPUS MINISTERS AND RELIGIOUS ORGANIZATIONS, INTER-RELIGIOUS COMMUNITY AND JUSTICE PROGRAMMING, A WEEKLY UNIVERSITY WORSHIP SERVICE, AND SPIRITUAL AND PASTORAL CARE. THE NUMBER OF PEOPLE SERVED WAS APPROXIMATELY 16,700. EXPENSES: $3,292,823, INCLUDING GRANTS OF: $0. REVENUE: $0. PART VI, LINE 1A: THE EXECUTIVE COMMITTEE IS AUTHORIZED BY ITS CHARTER TO EXERCISE THE AUTHORITY OF THE BOARD BETWEEN MEETINGS OF THE FULL BOARD ON ALL MATTERS EXCEPT THOSE FOR WHICH AUTHORITY IS SPECIFICALLY RESERVED IN THE BY-LAWS TO THE BOARD OF TRUSTEES. POWERS RESERVED TO THE FULL BOARD OF TRUSTEES INCLUDE THE FOLLOWING: APPOINTING OR REMOVING THE PRESIDENT; FILLING VACANCIES ON THE BOARD OR ITS COMMITTEES; AMENDING THE ARTICLES OF INCORPORATION; ADOPTING, AMENDING OR REPEALING THE BY-LAWS; OR APPROVING A PLAN OF MERGER. WHILE THE EXECUTIVE COMMITTEE MAY AND HAS EXERCISED THE AUTHORITY OF THE BOARD BETWEEN MEETINGS, IT IS EXPECTED THAT TO THE EXTENT POSSIBLE, IT WILL CONSULT WITH OR INFORM THE APPROPRIATE BOARD COMMITTEE CHARGED WITH OVERSIGHT OF A PARTICULAR ITEM OF BUSINESS PRIOR TO THE MATTER COMING BEFORE THE EXECUTIVE COMMITTEE FOR ACTION. IF SUCH CONSULTATION IS NOT FEASIBLE DUE TO TIME CONSTRAINTS OR EXIGENT CIRCUMSTANCES, THE APPROPRIATE COMMITTEE CHAIR(S) WILL BE CONSULTED IN ADVANCE OF THE EXECUTIVE COMMITTEE'S ACTION AND THE FULL COMMITTEE(S) INFORMED OF THE ACTION AS SOON AS PRACTICABLE THEREAFTER. FORM 990, PART VI, LINE 2: PAUL B. QUEALLY AND ALAN W. BREED HAVE IDENTIFIED A BUSINESS RELATIONSHIP WITH EACH OTHER. PAUL B. QUEALLY AND HERBERT H. MCDADE III HAVE IDENTIFIED A BUSINESS RELATIONSHIP WITH EACH OTHER. R. LEWIS BOGGS AND PAUL B. QUEALLY HAVE IDENTIFIED A BUSINESS RELATIONSHIP WITH EACH OTHER. R. LEWIS BOGGS AND ROBIN BLANDFORD HAVE IDENTIFIED A BUSINESS RELATIONSHIP WITH EACH OTHER. R. LEWIS BOGGS AND LOUIS W. MOELCHERT JR HAVE IDENTIFIED A BUSINESS RELATIONSHIP WITH EACH OTHER. FORM 990, PART VI, LINE 11B: THE FORM 990 WAS REVIEWED BY THE UNIVERSITY OF RICHMOND'S VICE PRESIDENT FOR BUSINESS AND FINANCE AND BY ITS GENERAL COUNSEL. FOLLOWING THAT REVIEW, A DRAFT OF THE FORM 990 WAS PROVIDED TO THE UNIVERSITY'S PRESIDENT, RECTOR, AND MEMBERS OF THE UNIVERSITYS EXECUTIVE AND AUDIT AND COMPLIANCE COMMITTEES. A MEETING WAS CONDUCTED TO REVIEW THE FORM 990 AND RESPOND TO ANY QUESTIONS THAT THE GROUP HAD REGARDING THE RETURN. FOLLOWING THAT MEETING, AN ELECTRONIC VERSION OF THE FORM 990 WAS DISTRIBUTED TO THE ENTIRE BOARD OF TRUSTEES. THE STAFF OF THE VICE PRESIDENT FOR BUSINESS AND FINANCE AND THE GENERAL COUNSEL CONDUCTED INFORMATION SESSIONS TO REVIEW THE FORM 990 WITH THE MEMBERS OF THE BOARD OF TRUSTEES AND TO RESPOND TO ANY QUESTIONS. ALL OF THIS OCCURRED PRIOR TO FILING THE FORM 990 WITH THE INTERNAL REVENUE SERVICE. THE RETURN THAT WAS REVIEWED WITH THE BOARD OF TRUSTEES WAS IDENTICAL TO THE ONE FILED WITH THE IRS. FORM 990, PART VI, LINE 12C: THE UNIVERSITY MONITORS AND ENFORCES COMPLIANCE WITH ITS CONFLICT OF INTEREST POLICY IN SEVERAL WAYS. FIRST, THE UNIVERSITY REQUIRES ALL INDIVIDUALS COVERED BY ITS POLICY TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE FORM ON AN ANNUAL BASIS. THE OFFICE OF THE SECRETARY TO THE BOARD OF TRUSTEES ENSURES THAT ALL COVERED INDIVIDUALS COMPLETE THE DISCLOSURE FORM. PRIOR TO ALL MEETINGS OF THE BOARD OF TRUSTEES OR ANY COMMITTEE THEREOF, THE SECRETARY TO THE BOARD AND THE GENERAL COUNSEL OF THE UNIVERSITY REVIEW THE MEETING AGENDA IN LIGHT OF THE CONFLICT OF INTEREST DISCLOSURES TO IDENTIFY ANY POTENTIAL OR ACTUAL CONFLICTS OF INTEREST THAT MIGHT ARISE. ADDITIONALLY, THE UNIVERSITY'S CONFLICT OF INTEREST POLICY REQUIRES COVERED INDIVIDUALS TO UPDATE THEIR DISCLOSURE FORMS DURING THE YEAR AND TO NOTIFY APPROPRIATE UNIVERSITY OFFICIALS OF ANY ACTUAL OR POTENTIAL CONFLICT THAT MIGHT ARISE PRIOR TO OR IN THE COURSE OF A MEETING. IF THERE IS A CONFLICT OF INTEREST, THE INVOLVED INDIVIDUAL IS REQUIRED TO RECUSE HIM OR HERSELF FROM THE DISCUSSION OF THE MATTER AT ISSUE, TO REFRAIN FROM VOTING ON THE MATTER AND TO REFRAIN FROM SEEKING TO INFLUENCE THE VOTE ON THE MATTER. FORM 990, PART VI, LINE 15A: THE BOARD OF TRUSTEES HAS DELEGATED AUTHORITY FOR APPROVAL OF THE COMPENSATION OF THE PRESIDENT TO THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE MEMBERS OF THE COMPENSATION COMMITTEE ARE THE RECTOR AND VICE RECTOR OF THE UNIVERSITY AND AT LEAST ONE OTHER MEMBER OF THE BOARD OF TRUSTEES. THE UNIVERSITY ENSURES THAT THE MEMBERS OF THE COMPENSATION COMMITTEE DO NOT HAVE A CONFLICT OF INTEREST WITH REGARD TO ANY MATTER COMING BEFORE THEM. IN SETTING THE INITIAL COMPENSATION AND BENEFITS OF THE PRESIDENT AND IN CONSIDERING ANY MATERIAL AMENDMENT TO HIS EMPLOYMENT AGREEMENT, THE COMPENSATION COMMITTEE HAS ENGAGED AN OUTSIDE COMPENSATION CONSULTANT. THE COMPENSATION CONSULTANT RELIES ON COMPENSATION DATA FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS AND HAS OPINED ON THE REASONABLENESS OF THE PRESIDENT'S COMPENSATION. IN CONDUCTING THE ANNUAL REVIEW, THE COMPENSATION COMMITTEE RELIES ON COMPENSATION DATA FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. THE DELIBERATIONS AND DECISIONS OF THE COMPENSATION COMMITTEE ARE DOCUMENTED CONTEMPORANEOUSLY. FORM 990, PART VI, LINE 15B: THE BOARD OF TRUSTEES HAS DELEGATED AUTHORITY FOR REVIEWING AND APPROVING THE PRESIDENT'S RECOMMENDATIONS REGARDING THE COMPENSATION OF HIS DIRECT REPORTS TO THE COMPENSATION COMMITTEE. THE MEMBERS OF THE COMPENSATION COMMITTEE ARE THE RECTOR AND VICE RECTOR OF THE UNIVERSITY AND AT LEAST ONE OTHER MEMBER OF THE BOARD OF TRUSTEES. THE UNIVERSITY ENSURES THAT THE MEMBERS OF THE COMPENSATION COMMITTEE DO NOT HAVE A CONFLICT OF INTEREST WITH REGARD TO ANY MATTER COMING BEFORE THEM. THE COMPENSATION COMMITTEE UTILIZES COMPENSATION DATA FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. THE COMPENSATION COMMITTEE APPROVES THE COMPENSATION FOR ALL OF THE PRESIDENT'S DIRECT REPORTS AND THE UNIVERSITYS DEANS. IN THE CASE OF OTHER STAFF WHOSE PROPOSED COMPENSATION AT THE TIME OF HIRING EXCEEDS THE BOARD-APPROVED COMPENSATION STRUCTURE FOR UNIVERSITY STAFF, THE COMPENSATION COMMITTEE UTILIZES COMPENSATION DATA FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS IN REVIEWING AND APPROVING THE PROPOSED COMPENSATION. THE DELIBERATIONS AND DECISIONS OF THE COMPENSATION COMMITTEE ARE DOCUMENTED CONTEMPORANEOUSLY. FORM 990, PART VI, LINE 19: THE UNIVERSITY OF RICHMOND MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE ON ITS PUBLIC WEBSITE. THE UNIVERSITY MAKES ITS CONFLICT OF INTEREST POLICY AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: OTHER CHANGES IN NET ASSETS OR FUND BALANCES RETURN OF PRIOR YEAR GRANT 4,359; CHANGE IN FAIR VALUE OF SWAP AGREEMENTS (8,788,850); CHANGE IN PRESENT VALUE - SPLIT INTEREST AGREEMENT 52,946; CHANGE IN POST-RETIREMENT BENEFIT OBLIGATION (2,996,554); RFMC SCHEDULE K-1 REVENUE DIFFERENTIAL 216,861; TOTAL PART XI, LINE 9: (11,511,238). 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