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FIN 47 230535 OTHER LIABILITIES 104402 ACCRUED DEFERRED COMP 91238 OTHER CLAIMS PAYABLE 65188 ACC POST-RETIREMENT HEALH BENEFITS 63436 ANNUITIES PAYABLE 19482 ACCRUED INTEREST 11627 STUDENT REFUNDS PAYABLE 3439 4565841 X 25787970 57551 57551 25730419 9504062 9504062 35234481 24117904 24117904 9504062 9504062 33621966 SCHEDULE D, PAGE 2, PART V, LINE 4 ENDOWMENT FUNDS WILL BE USED FOR THEIR SPECIFIC PURPOSES SCHEDULE D, PAGE 3, PART X THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE UNIVERSITY IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. IT IS ALSO EXEMPT FROM STATE INCOME TAX. HOWEVER, ANY UNRELATED BUSINESS INCOME MAY BE SUBJECT TO TAXATION. THE UNIVERSITY FOLLOWS THE ACCOUNTING STANDARDS FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. THIS GUIDANCE PRESCRIBES RECOGNITION THRESHOLD PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. NO LIABILITY HAS BEEN RECOGNIZED BY THE UNIVERSITY FOR UNCERTAIN TAX POSITIONS AS OF JUNE 30, 2015 AND 2014. THE UNIVERSITYS TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL AND STATE AUTHORITIES. THE TAX RETURNS FOR THE CURRENT YEAR AS WELL AS FISCAL YEARS 2012 THROUGH 2014 ARE OPEN TO EXAMINATION BY FEDERAL AND STATE AUTHORITIES. SCHEDULE D, PAGE 4, PART XI, LINE 4B FINANCIAL AID NETTED WITH REVENUE ON F/S 9,504,062 SCHEDULE D, PAGE 4, PART XII, LINE 4B FINANCIAL AID NETTED WITH REVENUE ON F/S 9,504,062 true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 ROCKFORD UNIVERSITY IS COMMITTED TO PROVIDING EQUAL OPPORTUNITY AND AN EDUCATIONAL & WORK ENVIRONMENT FOR ITS STUDENTS, FACULTY & STAFF FREE FROM ANY DISCRIMINATION BASED ON RACE, COLOR, RELIGION, SEX, NATIONAL ORIGIN, SEXUAL ORIENTATION, ANCESTRY, AGE, MARITAL STATUS, PHYSICAL OR MENTAL DISABILITY OR STATUS AS A DISABLED VETERAN OR VETERAN OF THE VIETNAM WAR. (SEE APPLICATION ON OUR WEBSITE FOR A MORE LENGTHY DESCRIPTION) SCHEDULE E, LINE 6 ROCKFORD UNIVERSITY RECEIVES FEDERAL STUDENT AID true SCHOLARSHIP/FINANCIAL AID 1360 9504062 SCHEDULE I, PAGE 1, PART I, LINE 2 SCHOLARSHIPS ARE MONITORED BY OUR STUDENT ADMINISTRATIVE SERVICES DEPARTMENT FOR PROPER USE & AWARDING. ALL GRANT AND SCHOLARSHIP REQUIREMENTS ARE FOLLOWED & DOCUMENTED IN THE SAS OFFICE RECORDS. X X true true X X X X false false false false false false false false false ROBERT HEAD PRESIDENT 274236 29353 303589 A VILLAGE OF MACHESNEY PARK IL 363126674 2013-10-09 5000000 SEE PART VI false false false A 5000000 402768 100000 4497233 2015 false false false true A false false false false false false true A false false false false false false false false false A true FORM 990 - ORGANIZATION'S MISSION TO EDUCATE MEN & WOMEN TO LEAD RESPONSIBLE LIVES BY MEANS OF A CURRICULUM GROUNDED IN LIBERAL ARTS LEARNING & COMPLEMENTED & EXTENDED BY PROFESSIONAL & PRACTICAL EXPERIENCE THROUGH THE TOTAL ACADEMIC & CO-CURRICULAR EXPERIENCE. ROCKFORD UNIVERSITY STRIVES TO PREPARE STUDENTS FOR FULFILLING LIVES, CAREERS & PARTICIPATION IN A MODERN & CHANGING GLOBAL SOCIETY. FORM 990 AS OF JULY 1, 2013 ROCKFORD COLLEGE CHANGED ITS NAME TO ROCKFORD UNIVERSITY FORM 990, PART VI BUSINESS RELATIONSHIPS BETWEEN BOARD OF TRUSTEE MEMBERS: SEVERAL OF OUR BOARD TRUSTEES HAVE BUSINESS RELATIONSHIPS WITH EACH OTHER LOCALLY FORM 990, PAGE 6, PART VI, LINE 2 SEE EXPLANATION ABOVE FORM 990, PAGE 6, PART VI, LINE 11B THE 990 IS REVIEWED BY THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES IN DETAIL AND APPROVED BY THE FULL BOARD OF TRUSTEES UPON RECOMMENDATION FROM THE FINANCE COMMITTEE FORM 990, PAGE 6, PART VI, LINE 12C CONFLICT OF INTEREST STATEMENTS ARE SIGNED ANNUALLY BY THE BOARD OF TRUSTEES, OFFICERS AND KEY EMPLOYEES. THE STATEMENTS ARE THEN REVIEWED BY THE UNIVERSITY'S CFO. FORM 990, PAGE 6, PART VI, LINE 15A EMPLOYEE SALARIES IN TOTALITY ARE REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES FINANCE COMMITTEE EACH YEAR AS PART OF THE BUDGET APPROVAL PROCESS. THE BOARD APPROVES THE PRESIDENT'S COMPENSATION. THE PRESIDENT APPROVES THE VICE PRESIDENT'S COMPENSATION, WITH REVIEW OF THE BOARD. ALL OTHER EXECUTIVE SALARIES ARE APPROVED BY THE PRESIDENT. ALL EMPLOYEE SALARIES ARE COMPARED AGAINST THE INDUSTRY AVERAGES PER THE CUPA SURVEY DATA. THIS DATA COMPARES THE SALARIES OF COMPARABLE PRIVATE HIGHER EDUCATION INSTITUTIONS WITH SIMILAR SIZED BUDGETS, BASED ON JOB TITLE AND DUTIES (FOR STAFF) AND BASED ON RANK, SPECIALTY, AND SUB-SPECIALTY (FOR FACULTY). FORM 990, PAGE 6, PART VI, LINE 15B EMPLOYEE SALARIES IN TOTALITY ARE REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES FINANCE COMMITTEE EACH YEAR AS PART OF THE BUDGET APPROVAL PROCESS. THE BOARD APPROVES THE PRESIDENT'S COMPENSATION. THE PRESIDENT APPROVES THE VICE PRESIDENT'S COMPENSATION, WITH REVIEW OF THE BOARD. ALL OTHER EXECUTIVE SALARIES ARE APPROVED BY THE PRESIDENT. ALL EMPLOYEE SALARIES ARE COMPARED AGAINST THE INDUSTRY AVERAGES PER THE CUPA SURVEY DATA. THIS DATA COMPARES THE SALARIES OF COMPARABLE PRIVATE HIGHER EDUCATION INSTITUTIONS WITH SIMILAR SIZED BUDGETS, BASED ON JOB TITLE AND DUTIES (FOR STAFF) AND BASED ON RANK, SPECIALTY, AND SUB-SPECIALTY (FOR FACULTY). FORM 990, PAGE 6, PART VI, LINE 19 AVAILABLE UPON REQUEST TO THE PUBLIC AND MANY ARE POSTED ON THE ROCKFORD UNIVERSITY WEBSITE FORM 990, PART XI, LINE 9 FINANCIAL AID NETTED WITH REVENUE ON F/S -9,504,062 FINANCIAL AID NETTED WITH REVENUE ON F/S 9,504,062