2015-04-14T15:29:56-05:00 2014-06-30 Fairfield University North Benson Road Fairfield CT 06824 990 2013-07-01 060646623 Fairfield University FAIR 2032544000 1073 North Benson Road Fairfield CT 068245195 Michael Trafecante VP Finance and Treasurer 2032544000 2015-04-14 2032544000 2013 2016-02-25 16:41:14Z Rev Jeffrey P von Arx SJ 1073 North Benson Rd Fairfield CT 06824 313770004 0 X www.fairfield.edu X 1942 CT A coeducational institution whose primary objectives are to develop the creative intellectual potential of its students and to foster in them ethical and religious values and a sense of social responsibility. Jesuit Education is committed today to the service of faith, of which the promotion of justice is an absolute requirement. As a Catholic university it welcomes those of all beliefs and traditions who share its concerns for scholarship, justice, truth and freedom, and it values the diversity which their membership brings to the university community. 36 35 2832 500 1541359 0 27325752 29129565 222286211 230524561 15068257 20575412 1296891 2035697 265977111 282265235 57843819 60948524 0 0 99934654 106199507 0 0 6793499 79708921 82264385 237487394 249412416 28489717 32852819 645239650 702865090 255864916 256961805 389374734 445903285 X Education for an Inspired Life: A Fairfield University education has become more integrated in focus, more global in outlook, and more intentional in its structure than ever before. In the Jesuit tradition, we are committed to creating a student-focused, holistic, and diverse educational environment intended to educate the whole person, mind, body and spirit. We want to cultivate in both our undergraduate and graduate students a sense of community and strong ethical and spiritual values to guide them on their paths into the future. 0 0 216361306 60948524 230524561 Fairfield University is an institution of higher learning with undergraduate, graduate and continuing education academic programs including students residing on campus. Full-time equivalent enrollment for the 2014 academic year were 3,655 undergraduates and 605 graduate students with approximately 2,750 students living in on-campus residences.Also included in our program services is a secondary Preparatory School with an enrollment of approximately 900 students.Fairfield University welcomed 963 members of the Class of 2017 and 45 transfer students to campus this year. The number exceeded the budgeted goal of 950. The Class of 2017 is a strong class, with an average SAT score of 1759, slightly higher than that of the Class of 2016. The Class is also more diverse, with more students of color and international students enrolled than in the previous year. Continued refinement of the financial aid process as well as enhancements to campus programming and follow up communication efforts resulted in a class that exceeded our budgeted goals. RECOGNITION OF QUALITY AND VALUEFor the 24th consecutive year Fairfield ranked in the top 2% of its peer group. In surveys done by U.S. News and Work Report, Fairfield was the third highest University in the North Region. The University was also acclaimed for its "Strong Commitment to Undergraduate Teaching," high freshman retention rate (88% and six-year graduation rate (82%). Money magazine ranked Fairfield in the top 150 (out of 665) for best valued based on quality of education, affordability and outcomes. Fairfield has also been recognized by the following publications and organizations:Forbes magazine's American's Top CollegesPrinceton Review's Top 379 collegesKiplinger's Personal Finance "35 Best College Values in New England"Bloomberg Businessweek's list of best undergraduate business schoolsAbroad 101 top four study abroad programs in the worldThe Fairfield Stags continue to demonstrate prowess on both the field and in the classroom. In data released by the National Collegiate Athletic Association Fairfield had the highest Graduation Success Rate (GSR) of all 11 Metro Atlantic Athletic Conference (MAAC) colleges and universities and the 12th highest in the nation. Fairfield had a GSR of 97 percent with 17 of its varsity programs above the national average of Division I student-athletes. The Bannow Science complex has been reprogrammed to become the STEM (Science, Technology, Engineering and Math) core of the campus. The School of Engineering was relocated to Bannow which is in the center of campus and adjacent to the School of Nursing. Planning was also begun for a major expansion and renovation of the School of Nursing with the goal of improving the overall quality of the teaching spaces and creating larger high tech spaces along with "collaborative classrooms" where integrated teams may work together. 216361306 1 1 0 0 0 0 1 1 0 1 1 1 0 0 1 0 1 0 1 1 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 781 0 1 2832 1 1 1 1 IT UK 0 0 0 1 1 0 0 0 0 X 36 35 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CT X Michael Trafecante 2032544000 1073 North Benson Rd Fairfield CT 06824 X Nancy A Altobello Trustee 2.00 X 0 0 0 Ceasar N Anquillare Trustee 1.00 X 0 0 0 William L Atwell Trustee 2.00 X 0 0 0 Rev John F Baldovin SJ Trustee 1.00 X 0 0 0 Rev Terrence A Baum SJ Trustee 2.00 X 0 0 0 Joseph R Bronson Trustee 1.00 X 0 0 0 Kevin P Cannon Trustee 1.00 X 0 0 0 Carlos M Cardoso Trustee 1.00 X 0 0 0 Frank J Carroll III Trustee 2.00 X 0 0 0 Kevin M Conlisk Trustee 1.00 X 0 0 0 Timothy J Conway Trustee 1.00 X 0 0 0 William C Crager Trustee 1.00 X 0 0 0 Sheila Kearney Davidson Trustee 2.00 X 0 0 0 Thomas A Franko Trustee 1.00 X 0 0 0 Peter J Gillen Trustee 1.00 X 0 0 0 Patricia E Glassford Trustee 2.00 X 0 0 0 Kelly Simon Hondru Trustee 1.00 X 0 0 0 Brian P Hull Trustee 2.00 X 0 0 0 Paul J Huston Trustee 1.00 X 0 0 0 Robin Kanarek Trustee 1.00 X 0 0 0 Susan Robinson King Trustee 1.00 X 0 0 0 Katherine N Lapp Trustee 2.00 X 0 0 0 Stephen M Lessing Trustee 1.00 X 0 0 0 Bill McIntosh Trustee 1.00 X 0 0 0 Andrew J McMahon Trustee 1.00 X 0 0 0 John C Meditz Trustee 1.00 X 0 0 0 Elner L Morrell Trustee 1.00 X 0 0 0 Most Rev George V Murry SJ Trustee 1.00 X 0 0 0 Gavin G O'Connor Trustee 1.00 X 0 0 0 Biff J O'Reilly Trustee 2.00 X 0 0 0 Rev Stephen A Privett SJ Trustee 2.00 X 0 0 0 Christopher C Quick Trustee 1.00 X 0 0 0 Rosellen W Schnurr Trustee 1.00 X 0 0 0 Marianne Dolan Weber Trustee 1.00 X 0 0 0 James D Wehr Trustee 1.00 X 0 0 0 Rev Jeffrey P von Arx SJ President and Trustee 45.00 X 300000 0 79400 Mark C Reed Secretary 45.00 X 261176 0 53978 Julie Dolan Former Treasurer 45.00 X 162298 0 39600 Michael Trafecante Treasurer (Effective May 2014) 45.00 X 0 0 0 Rev Paul J Fitzgerald SJ Senior Vice President 45.00 X 224922 0 46054 Dr Robbin D Crabtree Dean, College of Arts & Sciences 45.00 X 194961 0 36086 Dr Donald E Gibson Dean, School of Business 45.00 X 170712 0 43275 Dr Thomas C Pellegrino Vice President 45.00 X 174389 0 50606 Dr Lynn M Babington Dean, School of Nursing 45.00 X 180752 0 43100 Evelyn P Francis Chief Information Officer 45.00 X 185187 0 46935 Sydney A Johnson Head Coach-Men's Basketball 45.00 X 482073 0 20400 Dr Gregory P Koutmos Professor of Finance 45.00 X 185832 0 51032 Joseph P Frager Head Coach-Womens Basketball 45.00 X 184212 0 50379 Stephanie B Frost Former Vice President 45.00 X 181131 0 41357 2887645 0 602202 166 1 1 0 Sodexho Inc & Affiliates PO Box 352 Buffalo NY 14240 Dining Service 9197747 ABM Janitorial Sevives 551 Fifth Ave New York NY 10176 Custodial Service 2489154 Ellucian Company LP 4 Country View Rd Malvern PA 19355 IT Support Service 2177029 The Fairfield Jesuit Community Fairfield University Fairfield CT 06824 Admin & Teaching Services 1977225 Hess Corporation 1 Hess Plaza Woodbridge NJ 07095 Natural Gas Provider 1519235 94 3758047 25371518 3768372 29129565 Tuition & Fees 611600 190841397 190841397 Auxiliary Services 721000 36567318 36567318 Other Program Services 900099 3115846 3115846 230524561 2233274 2233274 49704999 31362861 18342138 18342138 18342138 350153 141908 208245 208245 Summer Conferences 611710 1059226 142539 916687 Miscellaneous Income 611710 768226 143554 624672 1827452 282265235 230810654 1541359 20783657 60948524 60948524 1669210 1045736 523474 100000 75138017 62248872 9202493 3686652 4740338 4005985 505571 228782 19403221 13349422 5237500 816299 5248721 4368941 621780 258000 520379 16591 502972 816 332400 1400 331000 913863 23639 889924 300 1169218 418864 736675 13679 4403343 3483515 399214 520614 2963656 1925009 935904 102743 8326827 8319543 7284 6120338 4864630 699389 556319 886934 823668 42036 21230 10351085 10101879 249206 15853045 14775038 1078007 1169646 103085 1066510 51 Contracted Services 11601980 11055637 467193 79150 General Maintenance & E 5472080 5150519 276791 44770 Consultants/Honoraria 4067277 1847505 1892423 327349 Library Acquisitions 1571360 1571360 6540954 5911944 592265 36745 249412416 216361306 26257611 6793499 526043 607094 37810235 50658062 15785226 22673140 2608849 2679092 483384274 202379330 285054797 281004944 220830176 265367390 54096342 51039008 28527982 28836360 645239650 702865090 24488422 30760789 2166123 2180400 10894270 11960187 211510344 205817091 6712105 6188465 93652 54873 255864916 256961805 X 202310686 225404198 60205832 87118224 126858216 133380863 389374734 445903285 645239650 702865090 X 32852819 24102110 -426378 X 0 1 X 1 1 1 X 24353463 21059676 27411400 27325752 29129165 129279456 24353463 21059676 27411400 27325752 29129165 129279456 0 0 0 129279456 24353463 21059676 27411400 27325752 29129165 129279456 1.00000 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 9 30.00 2 0 1 1 65.00 40000 0 X X X X 0 279942310 5975887 46138721 -3449456 -7188670 321418792 256129303 7440796 27269923 -3884790 -7012922 279942310 258747437 14963728 -6371279 -3395380 -7815203 256129303 223395750 3930822 42769642 -3160570 -8188207 258747437 203162188 7788395 24663208 -3333986 -8884055 223395750 0.43000 0.41500 0.15500 0 0 6393749 6393749 409950099 173935167 236014932 15616199 6625700 8990499 51424227 21818463 29605764 281004944 51039008 F 51039008 Capital Leases 54873 54873 306367345 24102110 24102110 282265235 0 282265235 249412416 0 249412416 0 249412416 Part II, Line 9: Part II Line 9: The University does not report conservation easements in its Financial Statements Part III, Line 4: The Art Collections are important cultural resources of the University, providing arts and academic enrichment to the students, faculty, local community, and international scholarly community. The collections are housed at the Lukacs Gallery, Thomas J. Walsh Art Gallery, the Bellarmine Museum & various locations on campus A website has been designed to give access to these works of art, collections and venues and to provide historical and technical information on the works. The Bellarmine Museum is dedicated to preserving, studying, and exhibiting those objects entrusted to its care, while never losing sight of its obligation to educate and inspire its many audiences, for the greater enrichment of all. The museum is open to the public and free of charge for individuals Part V, Line 4: The University's endowment is an aggregation of gifts provided by donors with the requirement the gifts be held in perpetuity to generate earnings now and in future years to support the University's programs of instruction, research and public service and funds designated by the Board of Trustees to function as endowment. Earnings from endowment investments support scholarships, chairs, professorships, fellowships, basic research, as well as academic and public service programs. The endowment should provide stability since the principal is invested and earnings are generated year after year. Net assets associated with endowment funds, including funds designated by the Board of Trustees to function as endowments, are classified and reported based on the existence or absence of donor-imposed restrictions. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 Fairfield University admits students of any sex, race, color, marital status, sexual orientation, religion, age, national origin or ancestry, disability or handicap to all the rights, privileges, programs, and activities generally accorded or made available to students of the University. It does not discriminate on the basis of sex, race, color, marital status, sexual orientation, gender identity, veteran's status, political ideology, religion, age, national origin or ancestry, disability or handicap in administration of its educational policies, admissions policies, employment policies, scholarship and loan programs, athletic programs, or other University-administered programs. Schedule E, Part I, Line 6 Fairfield University receives grants, awards and financial assistance for its students from various governmental agencies. The University has always been in good standing and the right to receive such aid has never been revoked or suspended. Europe (Including Iceland & Greenland) 1 2 Program Services Study Abroad Academic Programs 4954097 East Asia and the Pacific 0 0 Program Services Study Abroad Academic Programs 324952 Central America and the Caribbean 0 0 Program Services Study Abroad Academic Programs 62693 Sub-Saharan Africa 0 0 Program Services Study Abroad Academic Programs 85703 1 2 0 0 1 2 5427445 0 5427445 1 0 0 1 1 0 Part I, line 3: Accrual Method X X X X X X 0 Alumni Awards Dinner 350153 350153 141908 350153 350153 141908 141908 208245 1 Institutional Scholarships 5279 47655532 Athletic Scholarships 288 6218407 State and Federal Grants 490 1312770 Prep School Financial Aid 245 2224570 Other Financial Aid 485 3537244 Part I, Line 2: Several procedures and reports are used annually to monitor financial aid including: The University has in place internal controls to ensure amounts are awarded to students who continue to meet and maintain elegibility requirements. These internal controls are administered by the University's financial aid office;Independent auditors complete the A-133 audit relating to federal student aid; The FISAP report for the Department of Education; Common Data Set (CDS) which is a set of standards and definitions among the higher education community & publishers as represented by the College Board, Peterson's, U.S. News & World Report & the Wintergreen Orchard House. X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 Rev Jeffrey P von Arx SJ President and Trustee 300000 0 0 0 0 0 26750 0 52650 0 379400 0 27000 0 Mark C Reed Secretary 261176 0 0 0 0 0 20400 0 33578 0 315154 0 17692 0 Julie Dolan Former Treasurer 162298 0 0 0 0 0 13106 0 26494 0 201898 0 20000 0 Rev Paul J Fitzgerald SJ Senior Vice President 224922 0 0 0 0 0 17993 0 28061 0 270976 0 19859 0 Dr Robbin D Crabtree Dean, College of Arts & Sciences 194961 0 0 0 0 0 15738 0 20348 0 231047 0 18051 0 Dr Donald E Gibson Dean, School of Business 170712 0 0 0 0 0 13864 0 29411 0 213987 0 14976 0 Dr Thomas C Pellegrino Vice President 174389 0 0 0 0 0 14280 0 36326 0 224995 0 0 0 Dr Lynn M Babington Dean, School of Nursing 180752 0 0 0 0 0 14544 0 28556 0 223852 0 0 0 Evelyn P Francis Chief Information Officer 185187 0 0 0 0 0 14193 0 32742 0 232122 0 0 0 Sydney A Johnson Head Coach-Men's Basketball 482073 0 0 0 0 0 20400 0 0 0 502473 0 20000 0 Dr Gregory P Koutmos Professor of Finance 185832 0 0 0 0 0 16191 0 34841 0 236864 0 17276 0 Joseph P Frager Head Coach-Womens Basketball 184212 0 0 0 0 0 14880 0 35499 0 234591 0 14473 0 Stephanie B Frost Former Vice President 181131 0 0 0 0 0 13300 0 28057 0 222488 0 20000 0 Part I, Line 1a The President resides in a house that was donated to the University specifically for the President's use. The house is used extensively for University events. The President lives in the house for the convenience of the University. The Head Coach for men's basketball received membership to a club for the purpose of entertaining potential donors to the Athletic programs. A CHEFA Fairfield University Series M 060806186 20774UVX0 2008-04-10 39445697 Refund CHEFA Series K and Series L1 Second Tranche 0 0 0 B CHEFA Fairfield University Series N 060806186 20774UK87 2008-08-21 110773813 Refund CHEFA Series L1 and L2 0 0 0 C CHEFA Fairfield University Series O 060806186 20774UW50 2010-03-17 73474749 Construction of Various Campus Facilities 0 0 0 D CHEFA Fairfield University Series P 060806186 20774UY41 2010-03-17 11573281 Current Refunding of CHEFA Series H 0 0 0 A 39445697 3051849 35904182 489666 1 0 1 1 B 110773813 9938250 96694158 786405 3355000 1 0 1 1 C 73474749 7011334 4732010 731405 61000000 2012 0 0 1 1 D 11573281 1065750 10391034 116497 1 0 1 1 A 0 0 0 0 0.03000 0.03000 0 0 0 B 0 0 0 0 0.03000 0.03000 0 0 0 C 0 0 0 0 0.03000 0.03000 0 0 0 D 0 0 0 0 0.03000 0.03000 0 0 0 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 D 0 1 0 0 0 0 0 0 1 A 0 B 0 C 0 D 0 X 8 139100 Market Value X 350 Actual Cost X 67 3614832 Market Value X Sport Events 15 7975 Actual Cost X Golf Fees 8 5115 Actual Cost X Media Coverag 4 1000 Market Value 1 0 0 1 Part I, Line 32b: The University uses the services of a securities broker to sell contributions of publicly traded securities. Form 990, Part VI, Section B, line 11 a) It is the policy of Fairfield University that each voting member of the Board of Trustees is presented with a copy of the completed IRS Form 990 before it is filed with the IRS. b) The Form 990 is sent electronically to each Trustee. c) Form 990 (Return of Organization Exempt from Income Tax) is reviewed and approved by the Vice President for Finance before it is forwarded to the Board. d) Form 990 is reviewed by the Finance and Audit Committee before it is filed with the IRS. e) A Board resolution is not required in order for the Form 990 to be filed. Form 990, Part VI, Section B, line 12c Members of the Board of Trustees are asked to sign a Conflict of Interest statement. The statement shall be signed annually by each Board member as a condition of membership on the Board of Trustees. Each Trustee is expected to disclose (in writing) to the Chairman of the Board all situations in which conflicts might exist, or appear to exist. No Trustee having interests conflicting with the interests of the University or appearing so shall take part in the deliberations or votes of the Board involving the question concerning conflict nor seek to influence the other Trustees on that question. Form 990, Part VI, Section B, line 15 The process includes all of these elements: (1) Review and approval by the Board of Trustees; (2) Use of data as to comparable compensation; and (3) Contemporaneous documentation and recordkeeping. 1. Review and approval: The compensation is reviewed and approved by the Board of Trustees of Fairfield University, provided that persons with conflicts of interest with respect to the compensation arrangement at issue are not involved in this review and approval. 2. Use of data as to comparable compensation: The compensation of the person is reviewed and approved using data as to comparable compensation for similarly qualified persons in functionally comparable positions at similarly situated universities. The following methods have been used: a. Review by an independent third party b. Conduct market assessment of salaries c. Evaluate the appropriateness of the current salary structure to ensure that we are and remain competitive with the market, as well as remain internally equitable. 3. Contemporaneous documentation and recordkeeping: There is contemporaneous documentation and recordkeeping with respect to the deliberations and decisions regarding the compensation arrangement. Form 990, Part VI, Section C, line 19 Governing documents such as financial statements, conflict of interest policy and whistleblower policy are available on the University's website and also by request Part VII, Section A Michael Trafecante, Treasurer had no reported income in Calendar Year 2013 as he began his employment in 2014. Form 990, Part XI, line 9: Net Asset Reclassifications -356,656. Change in Value Split Interest Agreements -69,722.