2017-05-15T10:18:21-05:00 2016-06-30 061009205 BLUM SHAPIRO & COMPANY PC CPA'S 29 S MAIN STREET PO BOX 272000 WEST HARTFORD CT 061272000 990 2015-07-01 061395640 RICHMOND THE AMERICAN INTERNATIONAL UNIVERSITY IN LONDON INC RICH 8605616875 C/O BLUM SHAPIRO 29 S MAIN ST WEST HARTFORD CT 06107 PROFESSOR JOHN ANNETTE PRESIDENT 8605616875 2017-05-15 1 ELIZABETH SOLECKI P00235171 8605614000 2017-05-15 2015 2021-01-29 14:40:06Z PROFESSOR JOHN ANNETTE ORCHARD HOUSE QUEEENS ROAD RICHMOND SURREY UK 35583252 0 X WWW.RICHMOND.AC.UK X 1972 DE TO BE AN INTERNATIONAL UNIVERSITY OFFERING HIGH QUALITY UNDERGRADUATE AND POSTGRADUATE EDUCATION, RESEARCH EXCELLENCE AND PUBLIC ENGAGEMENT. 12 10 4 0 0 0 2735339 2624313 35315976 32870452 4910 3293 -68025 85194 37988200 35583252 3476806 3329130 0 0 11786179 13252014 0 0 0 22350810 20254937 37613795 36836081 374405 -1252829 11070652 9970797 7060080 9806680 4010572 164117 RICHMOND EDUCATES A MULTI-CULTURAL STUDENT BODY IN THE LIBERAL ARTS TRADITION AND PROVIDES ITS STUDENTS WITH THE INTELLECTUAL AND PERSONAL SKILLS THAT WILL ENABLE THEM TO INFLUENCE AND SUCCEED IN AN INCREASINGLY INTER-DEPENDENT AND EVOLVING WORLD. 0 0 30806800 3329130 32878160 THE UNIVERSITY HAS TAUGHT JUST OVER 1,000 (FULL TIME EQUIVALENT) STUDENTS AT THE UNDERGRADUATE AND POST GRADUATE LEVEL. THE TEACHING TOOK PLACE AT THE UNIVERSITY'S CAMPUSES IN LONDON & LEEDS (UK) AND FLORENCE & ROME (ITALY). 30806800 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 1 1 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 1 0 0 1 0 0 4 1 0 1 UK 0 0 0 0 0 0 0 0 X 12 10 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 DE MA X EUGENE MCCROSSAN RICHMOND UNIVERSITY 2083328212 QUEENS ROAD RICHMOND, SURREY UK TW10 6JP PROFESSOR WILLIAM DURDEN TRUSTEE 1.00 X 0 0 0 MR A MICHAEL HOFFMAN CHAIR OF TRUSTEES 3.00 X 0 0 0 MRS WENDY MILLER TRUSTEE 1.00 X 0 0 0 PROFESSOR JOHN ANNETTE PRESIDENT OF UNIVERSITY 40.00 X X 281570 0 111793 MS AILSA BROOKES TRUSTEE 1.00 X 0 0 0 DR KEVIN EVERETT TRUSTEE 1.00 X 0 0 0 DR CLIFFORD JOSEPH SECRETARY OF THE BOARD 3.00 X 0 0 0 MR NEIL MEADOWS TRUSTEE 1.00 X 0 0 0 DAME MARY RICHARDSON TRUSTEE 1.00 X 0 0 0 DR NICHOLAS TATE VICE CHAIR OF TRUSTEES 1.00 X 0 0 0 SIR CYRIL TAYLOR CHANCELLOR OF UNIVERSITY 3.00 X 0 0 0 MR PETER WILLIAMS TRUSTEE 1.00 X 0 0 0 MR JAY MICHAEL UNTIL 12016 TRUSTEE 1.00 X 0 0 0 DR PHILIP DEANS PROVOST OF UNIVERSITY 40.00 X 207200 0 39707 MRS JANE CRICHTON VP HUMAN RESOURCES & ADMIN 40.00 X 144300 0 29256 MRS ALLISON COLE-STUTZ VP STUDENT AFFAIRS 40.00 X 133200 0 27871 MR ROGER HORTON FINANCE DIRECTOR 40.00 X 118400 0 15858 MRS DELIA HENEGHAN VP MARKETING AND RECRUITMENT 40.00 X 165096 0 24254 RADHIKA LONGBOTTOM HEAD OF STUDENT RECRUITMENT 40.00 X 119712 0 14471 MR DAVID CUNNINGHAM VP INST PLANNING & ENROLLMENT 40.00 X 117700 0 16618 1287178 0 279828 13 0 1 0 SODEXO PO BOX 245 310 BROADWAY SALFORD UK CATERING 1855255 CIGNIA UK PROPERTIES LIMITED 26 CLEVELAND GDNS LONDON STONE HOUSE UK PROPERTY RENTAL 935005 MITIE PO BOX 764 PORTSMOUTH HAMPSHIRE UK FACILITIES MANAGEMENT 900957 LEEDS BECKETT UNIVERSITY LS1 3HE LEEDS CIVIC QUARTER UK ROOM RENTAL 500661 KM CLEANING SERVICES LTD CANTERBURY HOUSE MEDWAY CITY ESTAT ROCHESTER UK CLEANING 454389 23 2624313 207200 2624313 TUITION, ROOM & BOARD 611310 32870452 32870452 32870452 3293 3293 EXCHANGE INCOME 900099 77486 77486 MISCELLANEOUS 900099 7708 7708 85194 35583252 32878160 0 80779 3329130 3329130 1904301 1013774 890527 9435093 9155254 279839 919196 880754 38442 45192 20101 25091 948232 821922 126310 156319 94585 61734 134834 134834 525283 525283 1055485 784525 270960 1260050 1212527 47523 6261677 6259887 1790 283079 263363 19716 1488334 687685 800649 282660 257277 25383 SERVICE FEES 3244746 3244746 CATERING COSTS 2757380 2757380 TEACHING 1318650 1318650 STUDENT ACTIVITY COSTS 490970 490970 995470 933733 61737 36836081 30806800 6029281 0 -861411 2532146 2521828 1710271 1419758 15010 12171 1098099 947540 14355480 9356708 6129302 4998772 70728 447235 0 11070652 9970797 1514685 1913782 74181 140890 1503922 2347840 3967292 5404168 7060080 9806680 X 3216097 164117 794475 0 4010572 164117 11070652 9970797 X -1252829 -1146353 -1447273 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24411 -24411 9718303 5674887 4043416 4064558 3218407 846151 572619 463414 109205 4998772 STUDENT DEPOSITS 971765 FEES RECEIVED IN ADVANCE 2759912 UK TAX & SOCIAL SECURITY COSTS 248996 PENSION PROVISIONS 1423495 5404168 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 INCLUDED IN THE UNIVERSITY CATALOG, WEBSITE, MISSION STATEMENT, EMPLOYMENT AND FACULTY HANDBOOKS. 1 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 4 194 PROGRAM SERVICES HIGHER EDUCATION 26825235 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 4 194 MANAGEMENT & GEN EXPS HIGHER EDUCATION 6601803 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 4 194 GRANTS SCHOLARSHIPS AND HOUSING GRANTS 3329130 12 194 0 0 12 194 36756168 0 36756168 SCHOLARSHIPS & HOUSING GRANTS EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 417 3329130 REDUCTION IN INVOICE 0 0 0 0 0 0 PART III: TUITION SCHOLARSHIPS ARE ONLY PROVIDED TO STUDENTS IF ATTENDANCE & ACADEMIC PERFORMANCE IS MAINTAINED. ACHIEVEMENT IS MONITORED BY REVIEWING GRADES, PROGRESSION, AND COMPLETION OF REGISTERED COURSES. THESE REQUIREMENTS ARE MONITORED BY THE ACADEMIC REGISTRY DEPARTMENT. GRANTS FOR ROOM AND BOARD ARE ALLOCATED ON THE BASIS OF FINANCIAL NEED. X X 1 1 X X X 1 0 0 0 0 0 0 0 0 PROFESSOR JOHN ANNETTE PRESIDENT OF UNIVERSITY 281570 0 0 0 0 0 21044 0 90749 0 393363 0 0 0 DR PHILIP DEANS PROVOST OF UNIVERSITY 207200 0 0 0 0 0 37931 0 1776 0 246907 0 0 0 MRS JANE CRICHTON VP HUMAN RESOURCES & ADMIN 144300 0 0 0 0 0 27480 0 1776 0 173556 0 0 0 MRS ALLISON COLE-STUTZ VP STUDENT AFFAIRS 133200 0 0 0 0 0 26095 0 1776 0 161071 0 0 0 MRS DELIA HENEGHAN VP MARKETING AND RECRUITMENT 165096 0 0 0 0 0 22478 0 1776 0 189350 0 0 0 PART I, LINE 1A JOHN ANNETTE, THE PRESIDENT OF THE UNIVERSITY, WAS PROVIDED PERSONAL USE OF UNIVERSITY OWNED RESIDENCE ON THE RICHMOND SITE ALONG WITH GARDENING PERSONAL SERVICES. THIS BENEFIT WAS NOT TREATED AS TAXABLE AND IS INCLUDED IN SCHEDULE J, PART II, COLUMN (D) AS NONTAXABLE BENEFITS. PART I, LINE 4A RADHIKA LONGBOTTOM RECEIVED A TAXABLE SEVERANCE PAYMENT OF $39,257 IN LIEU OF NOTICE. FORM 990, PART VII AND PART I, LINE 5 THE MANAGEMENT OF THE UNIVERSITY IS BASED IN THE U.K. AND THEREFORE DOES NOT REQUIRE FORMS W-2 OR 1099-MISC FOR THE EMPLOYEES LISTED ON FORM 990, PART VII. AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 2832329 PAYMENTS TO AIFS FOR USE OF UNIVERSITY MAIN PREMISES 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 412417 PAYMENTS TO AIFS TO FINANCE ITALIAN STUDY CENTRES 0 AMERICAN INSTITUTE FOR FOREIGN STUDY UK LTD ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 187170 PAYMENTS TO AIFS UK LTD FOR LEASE OF 15 YOUNG STREET, LONDON 0 AMERICAN INSTITUTE FOR FOREIGN STUDY UK LTD ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 254642 PAYMENT TO AIFS UK LTD TO REIMBURSE BUILDING & INSURANCE COSTS 0 ACIS INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 244913 PAYMENT TO ACIS FOR RENTAL & SERVICES PROVIDED TO RECRUITMENT OFFICE IN BOSTON 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 3823716 PAYMENT BY AIFS FOR DELIVERY OF LONDON BASED STUDY ABROAD PROGRAMS 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 4833741 PAYMENT BY AIFS FOR DELIVERY OF ITALIAN STUDY ABROAD PROGRAMS IN FLORENCE & ROME 0 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 158419 PAYMENT TO AIFS FOR STUDY ABROAD CO-ORDINATOR IN LONDON & ASSOCIATED ACTIVITY COSTS 0 0 0 0 X SEE PART II 1 207200 0 0 0 PART I, COLUMN (B): THE UNIVERSITY RECEIVED A NON CASH DONATION OF $207,200 FROM THE RICHMOND FOUNDATION (A UK REGISTERED CHARITY). THIS WAS A NON CASH DONATION OF RESERVES BEING ACCUMULATED ON THE BALANCE SHEET OF THE RICHMOND FOUNDATION DUE TO INCREASING EQUITY ON A RESIDENTIAL PROPERTY THAT IS OWNED BY THE FOUNDATION AND LEASED BACK TO THE UNIVERSITY FOR THE PURPOSE OF STUDENT HOUSING. THE MORTGAGE IS NINE YEARS INTO A TWENTY YEAR TERM. THE DONATION REPRESENTS THE INCREASE IN EQUITY OF THE PROPERTY AS THE MORTGAGE IS GRADUALLY PAID DOWN. AT THE END OF THE MORTGAGE TERM, THE RICHMOND FOUNDATION WILL EITHER DONATE THE BUILDING TO THE UNIVERSITY, RE-MORTGAGE, OR SELL THE PROPERTY AND PASS THE FUNDS RECEIVED TO THE UNIVERSITY. FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES SIR CYRUS TAYLOR AND MS. AILSA BROOKES HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED FROM THE ACCOUNTING RECORDS AS AUDITED BY RSM LLP IN THE UK AND SENT FOR INITAL REVIEW TO THE UNIVERSITY ACCOUNTANTS, BLUM SHAPIRO IN THE US. REVISIONS ARE MADE AS NECESSARY AND THE FORM 990 WITH ALL RELEVANT SCHEDULES ATTACHED IS SENT TO THE UNIVERSITY'S AUDIT COMMITTEE, WITH A PAPER NOTING ANY ISSUES THAT REQUIRE PARTICULAR ATTENTION. THE AUDIT COMMITTEE REVIEWS THE FORM AND MAKES ANY COMMENTS THAT IT FEELS NECESSARY AND THEN REPORTS TO THE MAIN BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C ALL TRUSTEES ARE AWARE OF THE CONFLICTS OF INTEREST POLICY AND SIGN AN ANNUAL UPDATED COPY. THE CHAIRS OF THE TRUSTEE SUB-COMMITTEES MONITOR ANY POTENTIAL CONFLICTS AND WHERE NECESSARY REMIND MEMBERS TO DECLARE AN INTEREST, ABSTAIN FROM VOTING AND LEAVE MEETINGS WHEN NECESSARY. FORM 990, PART VI, SECTION B, LINE 15 THE MAIN BOARD OF TRUSTEES IS PROVIDED WITH RESEARCH AND ANALYSIS BY THE UNIVERSITY VP OF HR & ADMINISTRATION CONCERNING COMPARATIVE SALARIES FOR THE UNIVERSITY PRESIDENT. SALARIES OF SENIOR UNIVERSITY OFFICERS ARE SET BY THE PRESIDENT WITH RESEARCH AND ANALYSIS PROVIDED BY THE VP OF HR & ADMINISTRATION. FORM 990, PART VI, SECTION C, LINE 19 UNIVERSITY FORMATION DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE NOT AVAILABLE TO THE PUBLIC. UK STATUTORY ACCOUNTS ARE FILED WITH THE RELEVANT AUTHORITIES IN THE UK AND ARE AVAILABLE FOR INSPECTION. FORM 990, PART XI, LINE 9: EXCHANGE LOSS BETWEEN THE US DOLLAR & THE UK POUND STERLING -618,483. CURRENT YEAR ADJUSTMENT DUE TO FRS102 -828,790. THE RICHMOND FOUNDATION C/O RICHMOND UNIVERSITY QUEENS ROA RICHMOND, SURREY UK TW10 6JP EDUCATIONAL SUPPORT UK FOREIGN BASED UK CHARITY N/A 0 RICHMOND COLLEGE SERVICES LIMITED QUEENS ROAD RICHMOND SURREY UK TW10 6JP EDUCATION SUPPORT UK N/A C 0 0 0 1 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 THE RICHMOND FOUNDATION K 296000 LEASE AGREEMENT THE RICHMOND FOUNDATION C 985680 AGREED DONATION PART II: DONATIONS OF $985,680 FROM THE RICHMOND FOUNDATION TO THE UNIVERSITY WERE DECIDED UPON AT A FOUNDATION TRUSTEES MEETING. THE PRIME PURPOSE OF THE RICHMOND FOUNDATION IS TO PROVIDE SUPPORT TO RICHMOND, THE AMERICAN INTERNATIONAL UNIVERSITY IN LONDON INC. THE PAYMENT OF $296,000 FROM RICHMOND, THE AMERICAN INTERNATIONAL UNIVERSITY IN LONDON INC, TO THE RICHMOND FOUNDATION WAS RENTAL ON A PROPERTY USED FOR STUDENT HOUSING WHICH IS OWNED BY THE RICHMOND FOUNDATION. SIX TRUSTEES OF RICHMOND, THE AMERICAN INTERNATIONAL UNIVERSITY IN LONDON INC OUT OF A TOTAL OF 12 VOTING MEMBERS ARE ALSO TRUSTEES OF THE RICHMOND FOUNDATION. THERE IS ONE TRUSTEE OF THE RICHMOND FOUNDATION WHO IS NOT A TRUSTEE OF RICHMOND, THE AMERICAN INTERNATIONAL UNIVERSITY IN LONDON INC. HOWEVER, SHE IS AN EMPLOYEE OF THE UNIVERSITY IN THE CAPACITY OF VP MARKETING & RECRUITMENT. RICHMOND COLLEGE SERVICES LTD HAS TWO SHARES IN ISSUE. ONE IS OWNED BY THE RICHMOND FOUNDATION AND THE OTHER IS HELD BY THE PRESIDENT OF THE UNIVERSITY AS A NOMINEE SHAREHOLDER. ANY PROFITS MADE BY RICHMOND COLLEGE SERVICES LIMITED ARE DONATED TO THE RICHMOND FOUNDATION. AS THE RICHMOND FOUNDATION IS A UK REGISTERED CHARITY, THIS EXEMPTS RICHMOND COLLEGE SERVICES LTD FROM PAYING UK CORPORATION TAX. ANY PROFITS DONATED BY RICHMOND COLLEGE SERVICES LIMITED TO THE RICHMOND FOUNDATION ARE IN TURN DONATED TO THE UNIVERSITY.