2017-05-12T15:17:59-05:00 2016-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2015-07-01 131740451 Fordham University % NICHOLAS MILOWSKI FORD 7188171000 441 E FORDHAM RD Suite FMH 522 BRONX NY 104585170 MARTHA K HIRST VICE PRESIDENT FOR FINANCE 7188171000 2017-05-11 true DEVIN L DUNCAN P01249521 2127589700 2017-05-11 2015 2021-01-29 14:40:06Z JOSEPH M MCSHANE SJ 441 EAST FORDHAM ROAD BRONX NY 104585170 1100073071 false X WWW.FORDHAM.EDU X 1841 NY TO PROVIDE THE HIGHEST QUALITY EDUCATION TO UNDERGRADUATE AND GRADUATE STUDENTS,IN THE JESUIT TRADITION. 40 38 7258 1410 -528382 -1019098 58119927 66871154 662681679 691391724 51254369 13496798 575289 124942 772631264 771884618 165160938 185924154 0 0 339701764 341563198 562725 341510 11794485 231843177 236957227 737268604 764786089 35362660 7098529 1853222640 1814526108 623112306 636826434 1230110334 1177699674 X SEE SCHEDULE O. false false 589737912 185924154 607717231 HIGHER EDUCATION FORDHAM UNIVERSITY IS AN INDEPENDENT, NOT-FOR-PROFIT, COEDUCATIONAL, NONSECTARIAN INSTITUTION OF HIGHER LEARNING, IN THE JESUIT TRADITION, WITHIN ITS PRINCIPAL CAMPUSES LOCATED IN NEW YORK CITY. FORDHAM UNIVERSITY SERVES AND EDUCATES APPROXIMATELY 8,900 UNDERGRADUATE STUDENTS AND 6,400 GRADUATE AND PROFESSIONAL STUDENTS. FOR MORE INFORMATION, SEE SCHEDULE O. 89535690 82352349 AUXILIARY ENTERPRISES THE UNIVERSITY PROVIDES VARIOUS SERVICES FOR THE BENEFIT OF ITS STUDENTS, FACULTY AND STAFF AND IN SUPPORT OF EDUCATION ACTIVITIES. 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RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true true 6550 true 4933 false false true 23633 true 20487 true 55603 false SCHEDULE C, PART II-B LOBBYING ACTIVITIES: AN INSUBSTANTIAL PART OF THE UNIVERSITY'S ACTIVITIES WERE EXPENDED ATTEMPTING TO INFLUENCE LOCAL, STATE, AND FEDERAL LEGISLATION, REGULATION AND POLICY BENEFICIAL TO THE UNIVERSITY AND ITS STUDENTS. LINE 1I: THE UNIVERSITY PAID MEMBERSHIP DUES TO THE FOLLOWING ORGANIZATIONS: THE COMMISSION OF INDEPENDENT COLLEGES AND UNIVERSITIES $85,000 ASSOCIATION OF JESUIT COLLEGES AND UNIVERSITIES $83,000 NATIONAL ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES $15,000 AMERICAN COUNCIL ON EDUCATION $10,000 THESE MEMBER ORGANIZATIONS MAY ENGAGE IN LOBBYING ACTIVITIES. THEREFORE, A PORTION OF THE DUES MAY BE ATTRIBUTABLE TO LOBBYING ACTIVITIES. TO DATE, FORDHAM HAS NOT RECEIVED INFORMATION NEEDED TO CALCULATE THE PORTION OF DUES ATTRIBUTABLE TO LOBBYING; HOWEVER, TOTAL AMOUNTS WOULD NOT CONSTITUTE A SUBSTANTIAL PORTION OF FORDHAM'S ACTIVITY. 70095 4736410 X X false 665532326 18161977 -27474815 11423562 25642155 4283185 614870586 675054225 20830715 4277830 8509736 20954173 5166535 665532326 592538492 34025623 73098615 7645979 12674108 4288418 675054225 491584850 59944223 59971427 6005495 9806028 3150485 592538492 457980142 53351775 -1175082 7508732 8780275 2282978 491584850 0.38400 0.43900 0.17700 true false 11907246 11907246 1144713519 297582674 847130845 3063706 2181800 881906 278230412 165809585 112420827 107582774 11208041 96374733 1068715557 NONPUBLIC EQUITY FUNDS 165915842 F HEDGE FUNDS 180195107 F PRIVATE CAPITAL FUNDS 98866691 F PRIVATE REAL ASSETS 91601767 F OTHER 1833872 F 538413279 0 POST RETIREMENT BENEFIT OBLIG 57178000 U.S. GOVT REFUNDABLE ADVANCES 4719828 AMOUNTS HELD ON BEHALF OF OTHERS 3047046 CAPITALIZED LEASE OBLIGATION 1229902 66174776 X 527735496 -39727596 -201234563 -240962159 768697655 4283185 -1096222 3186963 771884618 580116410 2303572 2303572 577812838 4283185 182690066 186973251 764786089 SCHEDULE D, PART III, LINE 4 COLLECTIONS: THE UNIVERSITY'S MOST SIGNIFICANT COLLECTION IS EXHIBITED AT ITS MUSEUM OF GREEK, ETRUSCAN AND ROMAN ART. THE MUSEUM OCCUPIES 4,000 SQUARE FEET OF SPACE AND FEATURES MORE THAN 260 ANTIQUITIES DATING FROM THE 10TH CENTURY B.C. THROUGH THE 3RD CENTURY A.D. SCHEDULE D, PART V, LINE 4 ENDOWMENT FUNDS: THE PURPOSE OF FORDHAM UNIVERSITY'S ENDOWMENT IS TO GENERATE INVESTMENT EARNINGS AS A SOURCE OF REVENUE TO SUPPORT FINANCIAL ASSISTANCE TO STUDENTS, TO FUND NEW AND CUTTING EDGE PROGRAMS WHILE MAINTAINING AND IMPROVING EXISTING ONES, AND TO IMPROVE AND MAINTAIN THE CAMPUS TO MEET THE NEEDS OF THE UNIVERSITY COMMUNITY, AS RESTRICTED BY DONORS OR INTERNALLY DESIGNATED BY THE BOARD OF TRUSTEES. SCHEDULE D, PART X, LINE 2 UNCERTAIN TAX POSITIONS: THE UNIVERSITY ACCOUNTS FOR UNCERTAINTIES IN INCOME TAXES RECOGNIZED IN ITS FINANCIAL STATEMENTS USING A THRESHOLD OF MORE LIKELY THAN NOT OF BEING SUSTAINED. INCOME GENERATED FROM ACTIVITIES UNRELATED TO THE UNIVERSITY'S EXEMPT PURPOSE IS SUBJECT TO TAX. THE UNIVERSITY DID NOT HAVE ANY MATERIAL UNRELATED BUSINESS INCOME TAX LIABILITY AT JUNE 30, 2016 AND 2015. SCHEDULE D, PART XI, LINE 2D RECONCILIATION OF REVENUE & EXPENSE PER AUDITED FINANCIAL STATEMENTS & FORM 990 OTHER ADJUSTMENTS: CHANGE IN FV OF PERPETUAL TRUST (730,241) CHANGE IN FV OF INTEREST RATE SWAP (3,720,200) FINANCIAL AID AWARDS (182,685,092) GAIN/(LOSS) NOT YET RECOG - PERIODIC BEN COST (5,716,000) TRAVEL TOUR EXPENSE (4,974) LOSS ON DEFEASANCE & REFUNDING OF DEBT (8,378,056) ------------- TOTAL (201,234,563) SCHEDULE D, PART XI, LINE 4B OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES (1,096,222) SCHEDULE D, PART XII, LINE 2D OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES 1,096,222 LONDON PGM EXP & CURRENCY ADJ 1,207,350 ------------- TOTAL 2,303,572 SCHEDULE D, PART XII, LINE 4B OTHER ADJUSTMENTS: FINANCIAL AID AWARDS 182,685,092 TRAVEL TOUR EXPENSE 4,974 ------------- TOTAL 182,690,066 true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 NONDISCRIMINATION POLICY: THE UNIVERSITY INCLUDES A STATEMENT OF ITS NON-DISCRIMINATORY POLICY ON ITS WEBSITE, AS WELL AS IN STUDENT REGISTRATION MATERIALS, STUDENT COURSE CATALOGS, AND EMPLOYEE JOB POSTINGS. SCHEDULE E, PART I, LINE 6 EXPLANATION OF GOVERNMENT FINANCIAL AID: THE UNIVERSITY RECEIVES RESEARCH, TRAINING, AND FINANCIAL AID FROM THE NATIONAL SCIENCE FOUNDATION, THE U.S. DEPARTMENT OF HEALTH AND HUMAN SERVICES, THE U.S. DEPARTMENT OF EDUCATION, THE U.S. DEPARTMENT OF AGRICULTURE, AND VARIOUS OTHER NEW YORK STATE AND NEW YORK CITY AGENCIES. true Europe (Including Iceland and Greenland) 1 15 Program Services GLOBAL STUDIES 4364595 Europe (Including Iceland and Greenland) 1 2 Program Services STUDY ABROAD 285221 Sub-Saharan Africa 2 Program Services LAW SCH. PROGRAM 112808 Europe (Including Iceland and Greenland) 3 Program Services LAW SCH. 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THE FINANCIAL AND PROGRAM PROGRESS REPORTS ARE MONITORED AND REVIEWED BY THE PRINCIPAL INVESTIGATORS, THE OFFICE OF SPONSORED RESEARCH AND THE GRANTS ACCOUNTING OFFICE TO ENSURE FUNDS ARE BEING USED APPROPRIATELY. THE PRINCIPAL INVESTIGATORS MEET REGULARLY WITH SUBGRANTEES, WHICH INCLUDES VISITING THEM TO OBSERVE ACTIVITIES ON A FIRST-HAND BASIS. SCHEDULE F, PART I, LINE 3, COLUMN (F) METHOD OF ACCOUNTING: EXPENSES ARE REPORTED BASED ON THE ACCRUAL METHOD OF ACCOUNTING, FOLLOWING FORDHAM UNIVERSITY'S AUDITED FINANCIAL STATEMENTS. X X X X X X X true RUFFALO NOEL LEVITZ LLC PROF. FUNDRAISING false 1130455 371010 759445 1130455 371010 759445 NY FOUNDERS DINNER 2652379 2421779 230600 0 70219 188600 610103 227300 0 2652379 2421779 230600 0 70219 188600 610103 227300 1096222 -865622 SCHEDULE G, PART I, LINE 2B (III) RUFFALO NOEL LEVITZ, LLC PROVIDES CONSULTING SERVICES TO FORDHAM FOR ITS TELEMARKETING FUNDRAISING STRATEGY. THE FIRM ALSO PERFORMS SEGMENTATION AND PLEDGE FULFILLMENT VIA DIRECT MAIL. RUFFALO NOEL LEVITZ, LLC'S CORPORATE HEADQUARTERS ARE LOCATED AT 1025 KIRKWOOD PARKWAY SW, CEDAR RAPIDS, IA 52404. true Boston University 881 Commonwealth Avenue Boston MA 02215 042103547 501 (c) (3) 9401 RESEARCH Harvard University 1033 Massachusetts Cambridge MA 02138 042103580 501 (c) (3) 76262 RESEARCH Clark University 950 Main St Worcester MA 016101477 042111203 501 (c) (3) 9537 RESEARCH Brown University 235 Hope Street Box 1932 Providence RI 02912 050258809 501 (c) (3) 193632 RESEARCH Providence College 1 Cunningham Square Providence RI 02918 050258932 501 (c) (3) 19470 RESEARCH Teachers College Columbia University 525 W 120th Street Box 30 New York NY 10027 131624202 501 (c) (3) 224229 RESEARCH Albert Einstein College of Medicine 1300 Morris Park Avenue Bronx NY 10461 472209056 501 (c) (3) 22998 RESEARCH Memorial Sloan- Kettering Cancer Center 1275 York Avenue New York NY 10065 131924236 501 (c) (3) 20104 RESEARCH Research Foundation of CUNY 230 West 41st Street New York NY 10036 131988190 501 (c) (3) 337096 RESEARCH Morningside Center for Teaching Social Responsibil 475 Riverside Drive New York NY 10115 133185340 501 (c) (3) 798800 RESEARCH New York University 105 E 17th Street New York NY 10003 135562308 501 (c) (3) 269973 RESEARCH Columbia University 615 W 131 St MC8741 NEW YORK NY 10027 135598093 501 (c) (3) 31530 RESEARCH Princeton Theological Seminary 64 Mercer Street Princeton NJ 85420 210635010 501 (c) (3) 21327 RESEARCH University of Pennsylvania 3451 Walnut St Philadelphia PA 191046284 231352685 501 (c) (3) 6221 RESEARCH Bucknell University One Dent Drive Lewisburg PA 17837 240772407 501 (c) (3) 100000 RESEARCH University of Illinois PO Box 19448 Springfield IL 627949448 376000511 501 (c) (3) 13108 RESEARCH University of Michigan 500 S State Street Ann Arbor MI 48109 386006309 501 (c) (3) 152738 RESEARCH University of Wisconsin 1852 Van Hise Hall 1220 Linden Drive Madison WI 53706 396006492 501 (c) (3) 35852 RESEARCH American University 4400 Massachusetts NW Washington DC 20016 530196549 501 (c) (3) 17267 RESEARCH University of Virginia PO Box 400195 Charlottesville VA 22904 546001796 501 (c) (3) 154257 RESEARCH University of North Carolina at Chapel Hill Po box 8890 Chapel Hill NC 275148890 566001393 501 (c) (3) 140377 RESEARCH University of Memphis PO BOX 1000 Memphis TN 381480313 620648618 115 38711 RESEARCH William Marsh Rice University 6100 Main Street - MS70 HOUSTON TX 77005 741109620 501 (c) (3) 18123 RESEARCH University of Arizona 1401 East University Blvd Tucson AZ 85721 742652689 501 (c) (3) 7855 RESEARCH University of Texas at Austin PO BOX 7159 Austin TX 787137159 746000203 115 45853 RESEARCH University of Colorado Regents Drive at Broadway Boulder CO 80309 846000555 501 (c) (3) 113226 RESEARCH Stanford University 3145 Porter Drive Palo Alto CA 94304 941158365 501 (c) (3) 80747 RESEARCH Regents of the University of California UC Fund 64355A La Jolla CA 92093 946002123 501 (c) (3) 243143 RESEARCH 28 STUDENT SCHOLARSHIPS 11848 182685092 N/A N/A SCHEDULE I, PART I, LINE 2 GRANT MONITORING: ANY ORGANIZATION OR ENTITY THAT RECEIVES SUBCONTRACT GRANTS FROM FORDHAM UNIVERSITY IS REQUIRED TO SUBMIT BOTH FINANCIAL AND PROGRAM PROGRESS REPORTS EITHER ON A MONTHLY OR QUARTERLY BASIS AS TO THE USE OF FUNDS. THE REQUIRED FREQUENCY OF REPORTING, AS WELL AS OTHER MONITORING CONTROLS, ARE DEPENDENT UPON THE REQUIREMENTS OF THE PRIMARY GRANTING AGENCY AND UPON THE RESULTS OF A PREAWARD RISK ASSESSMENT, WHICH IS PERFORMED ON ALL SUBRECIPIENTS PRIOR TO ISSUING AWARDS. THE FINANCIAL AND PROGRAM PROGRESS REPORTS ARE MONITORED AND REVIEWED BY THE PRINCIPAL INVESTIGATORS, THE OFFICE OF SPONSORED RESEARCH AND THE GRANTS ACCOUNTING OFFICE TO ENSURE FUNDS ARE BEING USED APPROPRIATELY. THE PRINCIPAL INVESTIGATORS MEET REGULARLY WITH SUBGRANTEES, WHICH INCLUDES VISITING THEM TO OBSERVE ACTIVITIES ON A FIRST-HAND BASIS. SCHOLARSHIP GRANTS MONITORING: FORDHAM PROVIDES VARIOUS TYPES OF FINANCIAL ASSISTANCE TO PROMOTE ACCESS AND AFFORDABILITY TO STUDENTS. FORDHAMS STUDENT FINANCIAL SERVICES WORKS WITH STUDENTS TO HELP THEM DEVISE A PLAN TO FUND THEIR EDUCATION. ASSISTANCE MAY INCLUDE A COMBINATION OF GRANTS, LOANS AND PAYMENT PLANS DEPENDING ON INDIVIDUAL CIRCUMSTANCES AND RESOURCES. SCHOLARSHIP GRANTS ARE AWARDED ON THE BASIS OF FINANCIAL NEED AND/OR SCHOLASTIC ACHIEVEMENT, AND ON NON-DISCRIMINATORY BASIS. STUDENTS MUST COMPLETE CERTAIN QUESTIONNAIRES AND APPLICATIONS TO DEMONSTRATE THEIR QUALIFICATION FOR VARIOUS TYPES OF FEDERAL, STATE, LOCAL, AND INSTITUTIONAL FINANCIAL ASSISTANCE. THE VARIOUS FINANCIAL ASSISTANCE PROGRAMS HAVE PARTICULAR REQUIREMENTS FOR SELECTION CRITERIA AND MONITORING THE USE OF GRANT FUNDS, SUCH AS THE CODE OF FEDERAL REGULATIONS. THESE REQUIREMENTS MAY INCLUDE A MINIMUM COURSE LOAD, DEMONSTRATED ACADEMIC PROGRESS, AND OTHER SIMILAR REQUIREMENTS. X X true true X X X X true false false false false false false false false BRIAN BYRNE VP FOR LINCOLN CENTER 311189 0 0 0 2889 0 29150 0 31641 0 374869 0 0 0 ERIC WOOD CHIEF INVESTMENT OFFICER 236390 0 0 0 1851 0 18264 0 30286 0 286791 0 0 0 FRANK SIMIO END ROLE 1115 INT SR VP, CFO, TREAS & VP FIN 425219 0 0 0 1467 0 29150 0 29426 0 485262 0 0 0 FRANK SIRIANNI VP FOR TECHNOLOGY AND CIO 309650 0 0 0 14807 0 29150 0 30181 0 383788 0 0 0 JEFFREY GRAY SVP FOR STUDENT AFFAIRS 334941 0 0 0 2547 0 29150 0 29387 0 396025 0 0 0 JOHN LORDAN FORMER SR VP, CFO & TREASURER 0 0 0 0 279242 0 0 0 0 0 279242 0 0 0 MARCO VALERA VP FOR FACILITIES MGMT 308769 0 0 0 6529 0 29150 0 31320 0 375768 0 0 0 MARGARET BALL SECRETARY OF THE UNIVERSITY 174662 0 0 0 1226 0 19275 0 976 0 196139 0 0 0 MSGR JOSEPH QUINN END 1215 VP FOR MISSION & MINISTRY 156728 0 0 0 1534 0 17501 0 11709 0 187472 0 0 0 PETER STACE VP FOR ENROLLMENT 357681 0 0 0 5328 0 29150 0 31174 0 423333 0 0 0 ROGER MILICI VP FOR DEV AND UNIV RELATIONS 377284 0 0 0 1035 0 29150 0 2905 0 410374 0 0 0 STEPHEN FREEDMAN PROVOST 498736 0 0 0 6268 0 29150 0 29882 0 564036 0 0 0 THOMAS A DUNNE VP FOR ADMINISTRATION 378048 0 0 0 27493 0 29150 0 31651 0 466342 0 0 0 MARTHA K HIRST EFF 0715 SR VP, CFO & TREASURER 253696 0 0 0 1782 0 17892 0 589 0 273959 0 0 0 JEFFREY M NEUBAUER HEAD BASKETBALL COACH 408282 0 0 0 3780 0 29150 0 8825 0 450037 0 0 0 DONNA RAPACCIOLI GABELLI BUSINESS DEAN 591986 0 0 0 54127 0 29150 0 30226 0 705489 0 0 0 IFTEKHAR HASAN PROFESSOR AND CHAIR 434821 0 0 0 2547 0 29150 0 28514 0 495032 0 0 0 MICHAEL M MARTIN LAW SCH DEAN(END DEAN 06/15) 441220 0 0 0 8249 0 29150 0 30861 0 509480 0 0 0 THOMAS PECORA FORMER HEAD BASKETBALL COACH 156373 0 93165 0 566362 0 8698 0 6852 0 831450 0 0 0 SCHEDULE J, PART I FORDHAM UNIVERSITYS PRESIDENT, JOSEPH M. MCSHANE S.J. AND VP FOR MISSION INTEGRATION & PLANNING, MICHAEL MCCARTHY S.J., ARE MEMBERS OF THE SOCIETY OF JESUS AND PAYMENTS ARE MADE TO THE SOCIETY OF JESUS FOR THESE OFFICERS AND OTHER MEMBERS OF THE JESUIT COMMUNITY FOR THEIR SERVICES TO FORDHAM UNIVERSITY. TOTAL PAYMENTS TO THE JESUIT COMMUNITY FOR THE CALENDAR YEAR DECEMBER 31, 2015 TOTALED $3,310,106. SCHEDULE J, PART I, LINE 1A FIRST-CLASS OR CHARTER TRAVEL: FORDHAM UNIVERSITY DOES NOT GENERALLY PERMIT FIRST CLASS TRAVEL. HOWEVER, FOR BUSINESS TRIPS IN EXCESS OF 6 HOURS, EMPLOYEES ARE AUTHORIZED TO UPGRADE FROM THE LOWEST COACH FARE OFFERED BY THE AIRLINE TO THE NEXT HIGHER CLASS AVAILABLE. IN CONNECTION WITH ITS ATHLETICS PROGRAM, CERTAIN TEAMS UTILIZE CHARTER TRAVEL. TWO HIGHLY COMPENSATED INDIVIDUALS LISTED IN PART VII FLY WITH THE ATHLETIC TEAMS AS PART OF THEIR RESPONSIBILITIES AS EMPLOYEES OF FORDHAM UNIVERSITY. THE VALUE OF TRAVEL WAS NOT INCLUDED IN TAXABLE COMPENSATION. SCHEDULE J, PART I, LINE 1A HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: HOUSING WAS PROVIDED TO MICHAEL MCCARTHY S.J., VP FOR MISSION INTEGRATION & PLANNING. HE IS A MEMBER OF THE SOCIETY OF JESUS AND LIVES AS A RESIDENT MINISTER IN A UNIVERSITY DORMITORY ON CAMPUS WHILE PROVIDING GUIDANCE TO STUDENTS FOR THE CONVENIENCE OF THE UNIVERSITY. ACCORDINGLY, THE HOUSING BENEFITS PROVIDED TO HIM ARE NOT INCLUDABLE AS GROSS INCOME UNDER SECTION 119 OF THE INTERNAL REVENUE CODE. SCHEDULE J, PART I, LINE 4A SEVERANCE PAYMENTS: JOHN LORDAN, FORMER SENIOR VICE PRESIDENT, CHIEF FINANCIAL OFFICER AND TREASURER, SEPARATED FROM THE UNIVERSITY IN SEPTEMBER 2014 AND IS ENTITLED TO PAYMENTS PURSUANT TO AN AGREEMENT. FROM JANUARY 1, 2015 THROUGH DECEMBER 31, 2015, THE UNIVERSITY MADE PAYMENTS IN CONNECTION WITH THIS AGREEMENT TOTALING $279,242, LESS APPLICABLE WITHHOLDING TAXES AND DEDUCTIONS, AND WHICH ARE REPORTED ON SCHEDULE J, PART II, COLUMN (B) (III). THOMAS PECORA, FORMER HEAD MENS BASKETBALL COACH, SEPARATED FROM THE UNIVERSITY IN MARCH 2015 AND IS ENTITLED TO PAYMENTS PURSUANT TO AN AGREEMENT. FROM JUNE 26, 2015 THROUGH DECEMBER 31, 2015, THE UNIVERSITY MADE PAYMENTS IN CONNECTION WITH THIS AGREEMENT TOTALING $562,500, LESS APPLICABLE WITHHOLDING TAXES AND DEDUCTIONS, AND WHICH ARE REPORTED ON SCHEDULE J, PART II, COLUMN (B) (III). A DASNY SERIES 2008A 146000293 649903C33 2008-05-21 96895000 REFUNDING 2005 DEBT ISSUE false false false B DASNY SERIES 2011B 146000293 649905CX0 2011-04-28 152929720 2011 ISSUE -NEW CONSTRUCTION true false false C DASNY SERIES 2012 146000293 649906Z23 2012-10-25 46206812 REFUNDING 2002 & 1998 DEBT ISSUE false false false D DASNY SERIES 2014 146000293 649907YZ9 2014-04-03 66182433 REFUND 2014 ISSUE AND CO-OP ACQ false false false A 8665000 0 96895000 0 0 0 602276 59047 0 0 96233677 0 2008 true false true true B 10994720 50000000 152929720 0 0 0 1416066 0 0 151513654 0 0 2014 false false true true C 15446812 0 46206812 0 0 45346922 784889 0 0 0 75000 0 2013 true false true true D 9237433 0 66182432 0 0 0 867654 0 0 52363173 11252040 1699566 true false false A false false false false 0 false false false true B false false false false 0 false false false true C 0 D false false false false 0 false false false true A false false false true true true MERRILL LYNCH 3.248 true false false 0 false true B false true false false false false 0 false 0 false true C false true false false false false 0 false 0 false true D false true false false false false 0 false 0 false true A true B true C true D true SCHEDULE K, PART I, BOND ISSUES: 2011 BOND ISSUE (A) ISSUER NAME: DORMITORY AUTHORITY OF THE STATE OF NEW YORK (F) DESCRIPTION OF PURPOSE: LAW SCHOOL BUILDING AND RESIDENCE HALL CONSTRUCTION 2014 BOND ISSUE (A) ISSUER NAME: DORMITORY AUTHORITY OF THE STATE OF NEW YORK (F) DESCRIPTION OF PURPOSE: ACQUISITION OF BUILDING AND REFUND 2004 DEBT ISSUE 2016 BOND ISSUE (A) ISSUER NAME: DORMITORY AUTHORITY OF THE STATE OF NEW YORK (F) DESCRIPTION OF PURPOSE: REFUND TRANCHES OF THE 2011 DEBT ISSUE AND DEFEASE AND ADVANCE REFUND ALL OF THE 2008B DEBT ISSUE AND REFURBISH ACADEMIC BUILDING SCHEDULE K, PART II, LINES 13, 16 & 17 FOR THE 2014 BOND ISSUE THE FINAL ALLOCATION OF PROCEEDS HAS NOT BEEN MADE. SCHEDULE K, PART IV, LINE 2C, COLUMNS A AND B THE DATE OF THE REBATE COMPUTATION FOR BOTH SERIES OF BONDS IS 7/9/2015. SCHEDULE K, PART IV, LINE 4C, COLUMN (A) ARBITRAGE THE UNIVERSITY PAYS A FIXED RATE OF 3.2475% AND RECEIVES 67% OF ONE MONTH LIBOR ON THE NOTIONAL PRINCIPAL AMOUNT OF THE 2008A BONDS. A DASNY SERIES 2016A 146000293 64990BD75 2016-05-05 169720220 REF PRIOR ISSUES & REN ACAD BLG false false false A 0 0 169720220 0 0 0 1209489 0 0 15075000 153435731 0 2016 true true true true A false false false false 0 false false false true A false true false false false false 0 false 0 false true A true STEPHEN FREEDMAN SEE PART V SEE PART V X 837500 837500 false false true 837500 JILL LOGAN SEE PART V 136606 EMPLOYEE COMPENSATION false SCHEDULE L, PART II (A) NAME OF PERSON: STEPHEN FREEDMAN (B) RELATIONSHIP WITH ORGANIZATION: PROVOST OF FORDHAM UNIVERSITY (C) PURPOSE OF LOAN: This transaction represents the Universitys equity interest in his residence and is not a loan. Repayment is triggered under certain circumstances. SCHEDULE L, PART IV JILL LOGAN IS A FAMILY MEMBER OF PATRICIA NAZEMETZ, CURRENT TRUSTEE X 3 70095 APPRAISAL X 40 2377976 MARKET QUOTATION X GOLF OUTING 1 9979 COST X RECEPTION 10 46888 COST X PIANO 1 11000 APPRAISAL 2 false true false SCHEDULE M, PART I, COLUMN (B) NUMBER OF CONTRIBUTORS: THE AMOUNT LISTED IN COLUMN (B) REPRESENTS THE NUMBER OF CONTRIBUTORS. FORM 990, PART III, LINE 1 MISSION STATEMENT: THE MISSION OF THE UNIVERSITY FORDHAM UNIVERSITY, THE JESUIT UNIVERSITY OF NEW YORK, IS COMMITTED TO THE DISCOVERY OF WISDOM AND THE TRANSMISSION OF LEARNING, THROUGH RESEARCH AND THROUGH UNDERGRADUATE, GRADUATE AND PROFESSIONAL EDUCATION OF THE HIGHEST QUALITY. GUIDED BY ITS CATHOLIC AND JESUIT TRADITIONS, FORDHAM FOSTERS THE INTELLECTUAL, MORAL AND RELIGIOUS DEVELOPMENT OF ITS STUDENTS AND PREPARES THEM FOR LEADERSHIP IN A GLOBAL SOCIETY. CHARACTERISTICS OF THE UNIVERSITY AS A UNIVERSITY - FORDHAM STRIVES FOR EXCELLENCE IN RESEARCH AND TEACHING, AND GUARANTEES THE FREEDOM OF INQUIRY REQUIRED BY RIGOROUS THINKING AND THE QUEST FOR TRUTH. FORDHAM AFFIRMS THE VALUE OF A CORE CURRICULUM ROOTED IN THE LIBERAL ARTS AND SCIENCES. THE UNIVERSITY SEEKS TO FOSTER IN ALL ITS STUDENTS LIFE-LONG HABITS OF CAREFUL OBSERVATION, CRITICAL THINKING, CREATIVITY, MORAL REFLECTION AND ARTICULATE EXPRESSION. IN ORDER TO PREPARE CITIZENS FOR AN INCREASINGLY MULTICULTURAL AND MULTINATIONAL SOCIETY, FORDHAM SEEKS TO DEVELOP IN ITS STUDENTS AN UNDERSTANDING OF AND REVERENCE FOR CULTURES AND WAYS OF LIFE OTHER THAN THEIR OWN. AS A CATHOLIC UNIVERSITY - FORDHAM AFFIRMS THE COMPLEMENTARY ROLES OF FAITH AND REASON IN THE PURSUIT OF WISDOM AND LEARNING. THE UNIVERSITY ENCOURAGES THE GROWTH OF A LIFE OF FAITH CONSONANT WITH MORAL AND INTELLECTUAL DEVELOPMENT. FORDHAM ENCOURAGES FACULTY TO DISCUSS AND PROMOTE AN UNDERSTANDING OF THE ETHICAL DIMENSION OF WHAT IS BEING STUDIED AND WHAT IS BEING TAUGHT. FORDHAM GIVES SPECIAL ATTENTION TO THE STUDY OF THE LIVING TRADITION OF CATHOLICISM, AND IT PROVIDES A PLACE WHERE RELIGIOUS TRADITIONS MAY INTERACT WITH EACH OTHER AND WITH CONTEMPORARY CULTURES. FORDHAM WELCOMES STUDENTS, FACULTY, AND STAFF OF ALL RELIGIOUS TRADITIONS AND OF NO RELIGIOUS TRADITION AS VALUED MEMBERS OF THIS COMMUNITY OF STUDY AND DIALOGUE. AS A JESUIT UNIVERSITY - FORDHAM DRAWS ITS INSPIRATION FROM THE DUAL HERITAGE OF CHRISTIAN HUMANISM AND IGNATIAN SPIRITUALITY, AND CONSEQUENTLY SEES ALL DISCIPLINES AS POTENTIAL PATHS TO GOD. FORDHAM RECOGNIZES THE DIGNITY AND UNIQUENESS OF EACH PERSON. A FORDHAM EDUCATION AT ALL LEVELS IS STUDENT-CENTERED, AND ATTENTIVE TO THE DEVELOPMENT OF THE WHOLE PERSON. SUCH AN EDUCATION IS BASED ON CLOSE COLLABORATION AMONG STUDENTS, FACULTY, AND STAFF. FORDHAM IS COMMITTED TO RESEARCH AND EDUCATION THAT ASSIST IN THE ALLEVIATION OF POVERTY, THE PROMOTION OF JUSTICE, THE PROTECTION OF HUMAN RIGHTS AND RESPECT FOR THE ENVIRONMENT. JESUIT EDUCATION IS COSMOPOLITAN EDUCATION. THEREFORE, EDUCATION AT FORDHAM IS INTERNATIONAL IN ITS SCOPE AND IN ITS ASPIRATIONS. THE WORLD-WIDE NETWORK OF JESUIT UNIVERSITIES OFFERS FORDHAM FACULTY AND STUDENTS DISTINCTIVE OPPORTUNITIES FOR EXCHANGE AND COLLABORATION. AS A UNIVERSITY IN NEW YORK CITY - AS HOME TO PEOPLE FROM ALL OVER THE GLOBE, AS A CENTER OF INTERNATIONAL BUSINESS, COMMUNICATION, DIPLOMACY, THE ARTS AND THE SCIENCES, NEW YORK CITY PROVIDES FORDHAM WITH A SPECIAL KIND OF CLASSROOM. ITS UNPARALLELED RESOURCES SHAPE AND ENHANCE FORDHAMS PROFESSIONAL AND UNDERGRADUATE PROGRAMS. FORDHAM IS PRIVILEGED TO SHARE A HISTORY AND A DESTINY WITH NEW YORK CITY. THE UNIVERSITY RECOGNIZES ITS DEBT OF GRATITUDE TO THE CITY AND ITS OWN RESPONSIBILITY TO SHARE ITS GIFTS FOR THE ENRICHMENT OF OUR CITY, OUR NATION AND OUR WORLD. FORM 990, PART III, LINE 4A PROGRAM SERVICE ACCOMPLISHMENTS: FORDHAM UNIVERSITY IS AN INDEPENDENT, NOT-FOR-PROFIT, COEDUCATIONAL, NONSECTARIAN INSTITUTION OF HIGHER LEARNING, IN THE JESUIT TRADITION, WITHIN ITS PRINCIPLE CAMPUSES LOCATED IN NEW YORK CITY. FORDHAM UNIVERSITY SERVES AND EDUCATES APPROXIMATELY 8,900 UNDERGRADUATE STUDENTS AND 6,400 GRADUATE AND PROFESSIONAL STUDENTS. THE UNIVERSITY AWARDS BACCALAUREATE, GRADUATE, AND PROFESSIONAL DEGREES TO STUDENTS FROM FORDHAM COLLEGE AT ROSE HILL, FORDHAM COLLEGE AT LINCOLN CENTER, THE GABELLI SCHOOL OF BUSINESS (UNDERGRADUATE AND GRADUATE), THE SCHOOL OF PROFESSIONAL AND CONTINUING STUDIES, THE GRADUATE SCHOOLS OF ARTS AND SCIENCES, EDUCATION, RELIGION AND RELIGIOUS EDUCATION, SOCIAL SERVICE, AND THE SCHOOL OF LAW. A SIGNIFICANT AMOUNT OF FINANCIAL ASSISTANCE IS PROVIDED TO ENABLE QUALIFIED STUDENTS TO STUDY AT THE UNIVERSITY. FORM 990, PART VI, LINE 2 RELATIONSHIPS: FAMILY RELATIONSHIP - PETER STACE, OFFICER/VP FOR ENROLLMENT, HAS A FAMILY RELATIONSHIP WITH MARGARET BALL, OFFICER/SECRETARY OF THE UNIVERSITY. FORM 990, PART VI, LINE 11B FORM 990 REVIEW: THE FINANCE DEPARTMENT WORKS CLOSELY WITH KPMG LLP, AS PAID PREPARER OF FORDHAMS TAX-RELATED FILINGS, TO PREPARE THE FORM 990. ONCE PREPARED, THE FORM UNDERGOES A SERIES OF REVIEWS BY SENIOR FINANCIAL STAFF AND LEADERSHIP BEFORE SUBMISSION TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES FOR REVIEW AND APPROVAL. THE BOARD OF TRUSTEES HAS DELEGATED THE RESPONSIBILITY FOR REVIEWING THE RETURN TO THE EXECUTIVE COMMITTEE. FOLLOWING A FORMAL PRESENTATION TO THE EXECUTIVE COMMITTEE AND QUESTION AND COMMENT PERIOD, THE RETURN IS APPROVED AND A COPY OF THE FINAL DRAFT OF THE FORM 990 IS PROVIDED TO THE FULL BOARD OF TRUSTEES PRIOR TO ITS FILING. FORM 990, PART VI, LINE 12C CONFLICT OF INTEREST REVIEW: THE UNIVERSITY HAS A WRITTEN CONFLICT OF INTEREST POLICY COVERING ALL TRUSTEES, OFFICERS, AND EMPLOYEES THAT REQUIRES, AMONG OTHER THINGS, THAT NO INDIVIDUAL MAY PARTICIPATE IN DISCUSSION OR DECISION ON ANY MATTER IN WHICH HE OR SHE HAS A MATERIAL FINANCIAL INTEREST. ALL TRUSTEES, OFFICERS AND INDIVIDUALS WHO HAVE SIGNING AUTHORITY ARE REQUIRED TO CERTIFY COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS AND TO INDICATE WHETHER THE UNIVERSITY DOES BUSINESS WITH AN ENTITY IN WHICH THEY HAVE MATERIAL FINANCIAL INTEREST. WHEN SUCH RELATIONSHIPS EXIST, MEASURES ARE TAKEN TO MITIGATE ANY ACTUAL OR PERCEIVED CONFLICT, INCLUDING REQUIRING THAT SUCH TRANSACTIONS BE CONDUCTED AT ARM'S LENGTH, FOR GOOD AND SUFFICIENT CONSIDERATION, BASED ON TERMS THAT ARE FAIR AND REASONABLE TO AND FOR THE BENEFIT OF THE UNIVERSITY, AND IN ACCORDANCE WITH RELEVANT STATE CONFLICT OF INTEREST LAWS AND THE UNIVERSITY'S STATUS UNDER SECTION 501(C)(3). FORM 990, PART VI, LINES 15A & 15B COMPENSATION REVIEW: COMPENSATION FOR THE UNIVERSITY'S PRESIDENT IS INITIALLY DETERMINED BY A COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES USING SALARY DATA FROM SIMILAR INSTITUTIONS. THE REVIEW WAS MOST RECENTLY CONCLUDED IN SEPTEMBER 2015 FOR FISCAL YEARS 2016, 2017, AND 2018. ONCE DETERMINED, THE PRESIDENT'S PROPOSED COMPENSATION IS SUBMITTED FIRST TO THE INDEPENDENT EXECUTIVE COMMITTEE, THEN TO THE FULL BOARD OF TRUSTEES, FOR REVIEW AND ACCEPTANCE. COMPENSATION FOR OTHER UNIVERSITY OFFICERS IS ESTABLISHED USING SALARY BENCHMARKING DATA, AS WELL AS REVIEWS OF COMPENSATION DATA INCLUDED IN PUBLIC FILINGS OF COMPARABLE INSTITUTIONS. COMPENSATION LEVELS ARE REVIEWED AND ACCEPTED BY THE BOARD OF TRUSTEES BASED ON A REVIEW OF KEY DOCUMENTS, FILINGS, AND EMPLOYEE PERFORMANCE DISCUSSIONS. THE PROCESS OF DETERMINING COMPENSATION IS CONDUCTED IN EXECUTIVE SESSION TO MEETINGS OF THE BOARD OF TRUSTEES IN ORDER TO PRESERVE CONFIDENTIALITY. COMPENSATION LEVELS THAT ARE AUTHORIZED AS A RESULT OF THIS PROCESS ARE DOCUMENTED. FORM 990, PART VI, LINE 19 DOCUMENT AVAILABILITY: FORDHAM UNIVERSITY'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE CURRENTLY AVAILABLE ON THE UNIVERSITY'S WEBSITE, AND THE AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. FORM 990, PART VII CALENDAR YEAR COMPENSATION: MICHAEL MCCARTHY S.J. BEGAN SERVING AS VICE PRESIDENT FOR MISSION INTEGRATION & PLANNING IN JANUARY 2016; THEREFORE, HE IS LISTED AS A CURRENT OFFICER ON FORM 990, PART VII. BECAUSE PART VII COMPENSATION IS REPORTED ON A 2015 CALENDAR YEAR BASIS, AND FR. MCCARTHY JOINED FORDHAM IN 2016, COMPENSATION REPORTED ON PART VII IS ZERO. FORM 990, PART XI, LINE 23 SECURED MORTGAGES AND NOTES PAYABLE TO UNRELATED THIRD PARTIES: IN JULY 2012, THE UNIVERSITY ENTERED INTO AN AGREEMENT WITH THE JESUITS OF FORDHAM, INC., A NOT FOR PROFIT PROVINCIAL ORDER, FOR THE PURCHASE OF LOYOLA HALL, A BUILDING LOCATED ON THE ROSE HILL CAMPUS OF FORDHAM UNIVERSITY, FOR $30 MILLION. THE FIRST INSTALLMENT OF $8 MILLION WAS PAID ON THE CLOSING DATE. THE BALANCE OF THE PURCHASE PRICE WILL BE PAID PURSUANT TO AN INTEREST FREE PROMISSORY NOTE CALLING FOR EIGHT INSTALLMENTS OF $2,750,000 EACH YEAR THROUGH JULY 2020. THE UNIVERSITY RECORDED AN UNAMORTIZED DISCOUNT TOTALING $1,956,452 AND $2,263,147 AT JUNE 30, 2016 AND 2015, RESPECTIVELY. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS: CHANGE IN VALUE OF INTEREST RATE SWAP (3,720,200) LOSS NOT YET RECOGNIZED AS A COMPONENT OF NET PERIODIC COST (5,716,000) UNREALIZED CHANGE IN VALUE OF PERPETUAL TRUST (730,241) LONDON PGM EXP & CURRENCY ADJ (1,207,350) LOSS ON DEFEASANCE & REFUNDING OF DEBT (8,378,057) LONDON UNSPENT CASH ON HAND (29,745) ------------ TOTAL TO FORM 990, PART XI, LINE 9 (19,781,593) FORDHAM AIRVANA HOLDINGS LLC 888 SEVENTH AVE 7TH FLOOR NEW YORK NY 10019 131740451 HOLDING CO. 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