2014-05-06T10:55:03-07:00 2013-06-30 990 2012-07-01 050277222 ROGER WILLIAMS UNIVERSITY ROGE 4012531040 One Old Ferry Road Bristol RI 02809 Jerome F Williams 4012543536 2014-05-06 2012 2015-11-30 17:44:51Z Donald J Farish One Old Ferry Road Bristol RI 02809 192411034 0 X www.rwu.edu X 1959 RI Roger Williams University is an independent university that combines the unique strengths of small liberal arts colleges and those of larger comprehensive universities and where liberal and professional education are enhanced by their integration and recognition of their unity. 23 22 3486 255 301709 0 3810805 6345601 166541963 171174007 2652649 3193241 3132096 3087902 176137513 183800751 35861602 38422437 0 0 80999521 81765393 0 0 2531833 56425438 56059315 173286561 176247145 2850952 7553606 289124000 295411000 199825000 192274000 89299000 103137000 X See Schedule O 0 0 162327369 38422437 172766463 Higher Education: Roger Williams University (the "University"), located in Bristol and Providence, Rhode Island, is a private, coeducational university with programs in the liberal arts and the professions that includes the Feinstein College of Arts and Sciences, the School of Architecture, Art and Historic Preservation, the Mario J. Gabelli School of Business, the School of Education, the School of Engineering, Computing and Construction Management, the School of Justice Studies and the School of Continuing Studies. The University offers more than 40 majors of undergraduate study and 13 graduate degrees, along with numerous minors and certificate programs. The University is accredited by the New England Association of Schools and Colleges among other accrediting bodies. The University provides academic, residential and other services to a diverse student population predominately drawn from the Northeast region of the United States, as well as from many other U.S. states and territories and more than 50 foreign countries. Enrollment for fiscal year 2013 was approximately 3,774 full-time and 618 part-time undergraduates plus 178 full-time and 199 part-time graduate students. 0 0 0 162327369 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 281 0 1 3486 1 1 1 1 UK 0 0 0 1 1 0 0 0 0 X 23 22 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Jerome F Williams 4012543536 One Old Ferry Road Bristol RI 02809 Timothy E Baxter 1 0 X 0 0 0 Richard L Bready 1 0 X 0 0 0 Joseph M Brito Jr 1 0 X 0 0 0 Rodney A Butler 1 0 X 0 0 0 Gary R Chapman 1 0 X 0 0 0 Francis X Flaherty 1 5 X 0 0 0 Mario J Gabelli 1 0 X 0 0 0 Denise M Jenkins 1 0 X 0 0 0 Jerrold L Lavine 1 0 X X 0 0 0 Suzanne M Magaziner 1 0 X 0 0 0 Mark S Mandell 1 1 X 0 0 0 John McConnell 1 0 X 0 0 0 Marcia Morris 1 0 X 0 0 0 Sami Nacaroglu 1 0 X 0 0 0 Patricia Noonan 1 0 X 0 0 0 Helen Ostrowski 1 0 X 0 0 0 Scott W Pray 1 0 X 0 0 0 Frank E Rainieri Jr 1 0 X 0 0 0 Warren Simmons 1 0 X 0 0 0 Robert F Stoico 1 0 X 0 0 0 Arlene Violet 1 0 X 0 0 0 David Wajsgras 1 0 X 0 0 0 Joseph R Weisberger 1 1 X 0 0 0 Timothy B Yeaton 1 0 X 0 0 0 Donald J Farish 35 5 X X 379736 0 92341 Robert H Avery 40 0 X 224986 0 35072 Jerome F Williams 35 5 X 222034 0 37454 Lynn M Fawthrop 40 0 X 215966 0 37080 John J King 40 0 X 174779 0 47766 Robert A Potter Jr 40 0 X 176053 0 47572 Robert L West 40 0 X 249485 0 19917 Jerry W Dauterive 40 0 X 181928 0 31944 Anthony L Hollingsworth 40 0 X 192693 0 29263 Christopher M Neronha 40 0 X 174571 0 14202 Barbara S Poole 40 0 X 294818 0 36509 June S Speakman 40 0 X 177659 0 29263 2664708 0 458383 170 0 1 0 Bon Appetit Management Company 100 Hamilton Avenue Palo Alto CA 94301 Dining Services/Food Costs 5421223 Shawmut Design & Construction 3 Davol Square Providence RI 02903 Construction 1723106 Behan Brothers 975 Aquidneck Ave Middletown RI 02842 Construction 703340 DaPonte's Landscaping Services 700 Wood Street Bristol RI 02809 Landscaping/Construction 666984 Carousel Industries Inc PO Box 842084 Boston MA 02284 Computer Services 535379 62 0 0 67395 0 2635149 3643057 16000 6345601 Tuition 611310 121767809 121767809 0 0 Room and Board 611310 40005504 40005504 0 0 Student Fees 611310 7620055 7620055 0 0 1780639 1780639 0 0 171174007 489644 0 46733 442911 11792 0 0 11792 0 0 0 0 0 0 0 0 0 0 0 0 0 0 11274206 0 8330187 252214 2944019 -252214 2691805 0 0 2691805 12825 67395 27882 -15057 0 -15057 0 0 0 0 0 0 0 0 0 0 0 0 Conferences 900099 1260947 0 5420 1255527 Justice Training Institute 900099 412500 412500 0 0 Bookstore Commission Income 900099 241239 241239 0 0 1188273 938717 249556 0 3102959 183800751 172766463 301709 4386978 0 0 37480021 37480021 942416 942416 0 0 1643039 566798 712835 363406 0 0 0 0 60171576 53689791 5475095 1006690 3980209 3493552 398437 88220 11385446 9993356 1139736 252354 4585123 4024503 458993 101627 308993 0 308993 0 225601 0 225601 0 158054 0 158054 0 0 0 0 0 0 0 542183 0 542183 0 9173848 8442728 598290 132830 620238 609311 8312 2615 3556228 2967085 264177 324966 1914417 1378922 530425 5070 2510 2510 0 0 8107432 7882596 224836 0 1705882 1601560 50149 54173 0 0 0 0 886311 785788 82072 18451 6591189 6591189 0 0 0 0 0 0 11568421 11568421 0 0 1145968 1145968 0 0 Study Abroad 2702417 2702417 0 0 Student Expense 2066102 2023349 42663 90 Library Materials 1247307 1247307 0 0 Loss on Debt Defeasance 197668 197668 0 0 3338546 2990113 167092 181341 176247145 162327369 11387943 2531833 1719000 4193000 0 0 1638000 1850000 5072000 6627000 0 0 0 0 0 0 115000 117000 80000 1013000 344198000 135393000 213464000 208805000 16744000 18736000 42421000 45294000 0 0 0 0 7871000 8776000 289124000 295411000 10103000 11776000 0 0 12415000 14686000 134437000 129250000 0 0 0 0 7310000 6075000 0 0 35560000 30487000 199825000 192274000 X 79912000 89736000 3095000 6692000 6292000 6709000 89299000 103137000 289124000 295411000 X 7553606 4359361 0 0 0 1925033 X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 59165000 408000 7789183 139000 2650000 542183 64031000 64994500 237000 -1737754 170000 3679500 479246 59165000 58560500 134000 11494065 113000 4685000 396065 64994500 52735000 129500 6306468 114000 129000 367468 58560500 88760000 85000 -21336600 104000 13958000 711400 52735000 0.86 0.11 0.03 0 0 0 3712000 3712000 0 264875000 75974000 188901000 0 3404000 2084000 1320000 0 72207000 57335000 14872000 0 0 0 0 208805000 Hedged Equity -Developed and Emerging 26466000 F Domestic & International equities 10263000 F Fixed Income Securities 4358000 F Private Equity 4207000 F 45294000 0 Intercompany-Roger Williams University School of Law 14470000 Line of Credit 6200000 Asset Retirement Obligations 3210000 Interest Rate Swap Obligations 2344000 Refundable Advances -U.S. Government Grants 1825000 Obligations Under Capital Leases 1054000 Charitable Annuity Obligations 157000 Other Miscellaneous Long Term Liabilities 1227000 30487000 X 151401296 4359361 0 0 -36496729 -32137368 183538664 542183 -280096 262087 183800751 137562621 0 0 0 280096 280096 137282525 542183 38422437 38964620 176247145 SchD_P05_S00_L04 Schedule D, Part V, Line 4 The intended use of the restricted endowment funds are dictated by the donor which are predominantly for instructional purposes and scholarships. Earnings from unrestricted endowment funds are used for operations according to the spending policy established by the University's Board of Trustees. SchD_P10_S00_L02 Schedule D, Part X, Line 2 The University accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. The University has identified its tax status as a tax exempt entity as its only significant tax position; however, the University has determined that such tax position does not result in an uncertainty requiring recognition. The University is not currently under examination by any taxing jurisdictions. The University's federal tax return is generally open for examination for three years following the date filed. SchD_P11_S00_L02d Schedule D, Part XI, Line 2d Scholarships and grants provided to students of ($38,422,437) are presented as a contra-revenue item in the audited financial statements and as an expense in the Form 990. Change in fair value of interest rate swaps of $1,482,417 and change in value of split-interest agreements of $443,291 are presented as contra-revenue items in the audited financial statements and as other adjustments to reconcile the change in net assets in the Form 990. SchD_P11_S00_L04b Schedule D, Part XI, Line 4b Fundraising event expenses of $27,882 and loss on disposal of property and equipment of $252,214 are shown as expense items in the audited financial statements and as contra-revenue items on the Form 990. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d Fundraising event expenses of ($27,882) and loss on sale of property and equipment of ($252,214) are shown as expense items in the audited financial statements and as contra-revenue items on the Form 990. SchD_P12_S00_L04b Schedule D, Part XII, Line 4b Scholarships and grants are provided to students of $38,422,437 and are presented as a contra-revenue item in the audited financial statements and as an expense in the Form 990. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SchE_P01_S00_L03 Schedule E, Part I, Line 3 The University annually publishes a notice of its racially nondiscriminatory policy in a newspaper of general circulation that serves all racial segments of the community. Also the University's non-discrimination policy is available on its website at http://rwu.edu/site-policies/non-discrimination-policy SchE_P01_S00_L06 Schedule E, Part I, Line 6 The University receives federal and state student financial aid authorized by student loan programs. 1 Central America and the Caribbean 0 0 Investments 15459560 Central America and the Caribbean 0 0 Program Services Bus Travel/Study Abroad 74136 East Asia and the Pacific 0 0 Program Services Bus Travel/Study Abroad 68043 East Asia and the Pacific 0 0 Grantmaking 118362 Europe (including Iceland and Greenland) 0 0 Program Services Bus Travel/Study Abroad 223434 Europe (including Iceland and Greenland) 0 0 Grantmaking 793820 Middle East and North Africa 0 0 Program Services Bus Travel/Study Abroad 23085 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Bus Travel/Study Abroad 18039 Russia and the newly independent States 0 0 Grantmaking 8225 South America 0 0 Program Services Bus Travel/Study Abroad 41322 South America 0 0 Grantmaking 16409 South Asia 0 0 Program Services Bus Travel/Study Abroad 875 Sub-Saharan Africa 0 0 Grantmaking 5600 0 0 16850910 Scholarships to students East Asia and the Pacific 16 0 N/A 118362 Tuition Offset FMV Scholarships to students Europe (including Iceland and Greenland) 136 0 N/A 793820 Tuition Offset FMV Scholarships to Students Russia and the newly independent States 1 0 N/A 8225 Tuition offset FMV Scholarships to Students South America 1 0 N/A 16409 Tuition offset FMV Scholarships to students Sub-Saharan Africa 1 0 N/A 5600 Tuition offset FMV 1 0 1 1 1 0 SchF_P01_S00_L02 Schedule F, Part I, Line 2 The University monitors all grants outside the United States by directly applying the grant to the student's account to cover a portion of the student's tuition in accordance with standard financial aid policies and procedures. SchF_P01_S00_L03 Schedule F, Part I, Line 3 Study abroad is an opportunity for students to continue the Roger Williams University education while living in another country. Study abroad is not merely a travel experience, but an academic experience (first and foremost) in an international setting. The study abroad programs are separately tracked in the University's general ledger system by activity and the amounts reported represent direct spending in foreign countries for tuition payments, lodging, travel and incidentals for students and faculty liaisons. The admissions recruiting and fundraising amounts are tracked primarily using the University's credit card system and represent travel, meals, and lodging costs for University employees conducting business in these regions. All expenses are under the accrual method of accounting. Golf Tournament 80220 67395 12825 0 0 20958 0 0 6924 0 0 80220 67395 12825 0 0 20958 0 0 6924 27882 -15057 1 Scholarships to students 3176 0 37480021 Other Reduction to Student account balance for tuition owed to the University. SchI_P01_S00_L02 Schedule I, Part I, Line 2 The University's Office of Financial Aid monitors all recipients of scholarship awards to determine both initial and confirming eligibility based on the criteria for each type of award, which may include academic performance, financial need, and criteria established by donors of endowed scholarship funds, etc. X X X 1 1 X X X X X X 0 1 0 0 0 0 0 1 0 Donald J Farish 379736 0 0 0 0 0 45000 0 47341 0 472077 0 0 0 Robert H Avery 222986 0 2000 0 0 0 17806 0 17266 0 260058 0 0 0 Jerome F Williams 220034 0 2000 0 0 0 17692 0 19762 0 259488 0 0 0 Lynn M Fawthrop 210966 0 5000 0 0 0 17314 0 19766 0 253046 0 0 0 John J King 174779 0 0 0 0 0 14000 0 33766 0 222545 0 0 0 Robert A Potter Jr 176053 0 0 0 0 0 14400 0 33172 0 223625 0 0 0 Robert L West 249485 0 0 0 0 0 18128 0 1789 0 269402 0 0 0 Jerry W Dauterive 181928 0 0 0 0 0 14753 0 17191 0 213872 0 0 0 Anthony L Hollingsworth 192693 0 0 0 0 0 11464 0 17799 0 221956 0 0 0 Christopher M Neronha 174571 0 0 0 0 0 13670 0 532 0 188773 0 0 0 Barbara S Poole 112878 0 0 0 181940 0 27274 0 9235 0 331327 0 0 0 June S Speakman 177659 0 0 0 0 0 11464 0 17799 0 206922 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a Housing Allowance - A residence on the employer's premises is used for both University business functions and as a personal residence by the President for the convenience of the employer and is treated as nontaxable compensation. The value of the personal space within the residence is included as a nontaxable benefit on Schedule J. Health or social club dues - The University paid social club membership dues for the President and the VP for Advancement. Since the use of the clubs was for business purposes it was not treated as taxable compensation. Personal Services - The University regularly cleans the President's residence and the value of the maintenance of the personal space is taxed accordingly. SchJ_P01_S00_L04 Schedule J, Part I, Line 4 Line 4(a) Barbara S. Poole, Associate Professor, received $181,940 in back pay awarded in accordance with an arbitration decision. Line 4(b) The President of Roger Williams University participated in a University 457(f) plan and $25,000 was accrued under the plan in calendar year 2012. SchJ_P01_S00_L07 Schedule J, Part I, Line 7 For University non-aligned employees merit based compensation may be granted as either a salary increase or a one-time bonus. Qualifications for receiving a bonus include performance exceeding expectations or taking on additional duties due to staff vacancies or temporary absences. In the case of officers and other key employees, the bonus amount (if any) is determined via the same process as other compensation for officers and other key employees, including review by the University's President, who is independent of the other officers or key employees. In addition, the compensation of officers and key employees falls within the parameters of the University's non-aligned merit compensation program that is approved by the Board of Trustees on an annual basis. A RIHEBC 2003 521300173 762243DV2 2003-11-01 32000000 Construction and Refunding 0 0 0 B RIHEBC 2006B 521300173 762197AY7 2006-10-12 17200000 Construction 0 0 0 C RIHEBC 2008A 521300173 762197CK5 2008-07-03 22935000 Retire 2006A Bonds 0 0 0 D RIHEBC 2008B 521300173 762197CM1 2008-08-28 38000000 Construction 0 0 0 A 0 0 32000000 2211500 0 13133610 115309 1134005 0 15405576 0 0 2004 1 0 1 1 B 0 0 17200000 1137188 0 0 714671 0 0 15348141 0 0 2008 0 0 1 1 C 0 0 22935000 0 0 22532642 276243 0 0 126115 0 0 2009 1 0 1 1 D 0 0 38000000 0 0 0 488608 0 0 37511392 0 0 2010 0 0 1 1 A 0 0 1 0 0 0 0.0121 0.0121 0 0 1 B 0 0 0 0 0 0 0 0 0 1 C 0 0 0 0 0 0 0 0 0 1 D 0 0 0 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 1 1 BANK OF AMERICA 18.0 0 0 0 0 1 D 0 0 0 1 1 1 BANK OF AMERICA 30.0 0 0 0 0 1 A 1 B 1 C 1 D 1 SchK_P03_S00_L03b Schedule K, Part III, Line 3b The University's inside counsel performs such review. SchK_P04_S00_L02c Schedule K, Part IV, Line 2c Date of last rebate computation: RIHEBC 2003, 12/31/12; RIHEBC 2006B, 12/31/12; RIHEBC 2008A, 07/02/2012; and RIHEBC 2008B, 8/27/2012. Both the RIHEBC 2011A and the RIHEBC 2011B issues were current refundings and qualified for the Six-Month Spending Exception from Rebate. A RIHEBC 2011A 521300173 2011-06-02 26410000 Refund 1998 Bonds 0 0 0 B RIHBEC 2011B 521300173 2011-11-08 12025000 Refund 2000 Bonds 0 0 0 A 0 0 26410000 0 0 25879219 237781 0 0 0 293000 0 2012 1 0 1 1 B 0 0 12025000 0 0 11788293 236707 0 0 0 0 0 2012 1 0 1 1 A 0 0 0 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 0 0 1 A 0 0 1 0 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 A 1 B 1 F990_P03_S00_L01 Form 990, Part III, Line 1 Roger Williams University is an independent university that combines the unique strengths of small liberal arts colleges and those of larger comprehensive universities and where liberal and professional education are enhanced by their integration and the recognition of their unity. At the foundation of the Institution is a set of core values that play a central role in guiding a respectful, diverse, and intellectually vibrant university community: "Love of learning as an intrinsic value", "Preparation for careers and future study", "Collaboration of students and faculty in research", "Commitment to community through service and sustainability", "Appreciation of global perspectives", "Promotion of civil discourse". F990_P06_S0A_L02 Form 990, Part VI, Section A, Line 2 Trustees Mario Gabelli and Richard Bready have a business relationship. F990_P06_S0B_L11b Form 990, Part VI, Section B, Line 11b IRS Form 990 is prepared by the Controller, VP for Accounting and Treasury Management and the Executive VP for Finance and Administration, along with assistance from the University Office of General Counsel. The completed Form 990 and schedules, along with relevant back up, are provided to an independent accounting firm for review. Upon completion, the form is provided to the Audit Committee of the Board of Trustees for review, discussion and approval. The completed and approved Form 990 is then sent to all members of the Board of Trustees prior to filing with the IRS. F990_P06_S0B_L12c Form 990, Part VI, Section B, Line 12c Trustees, officers, key employees and managers are all required to annually (or more frequently in the event of a new potential conflict) disclose any potential conflicts of interest by completing a conflict of interest disclosure form. These disclosures are collected by the Office of General Counsel and provided for vetting to 1) the full Board of Trustees for Trustee disclosures; 2) the President for officer and senior management disclosures; or 3) senior management for down-line key employees and managers. The University's Conflict of Interest Policy and by-laws both contain provisions that provide for individuals with actual and potential conflicts to refrain from participating in discussion of, and voting on, matters where such conflicts exist. F990_P06_S0B_L15 Form 990, Part VI, Section B, Line 15 The compensation for the University's President is contractually set and is reviewed by the Executive Committee and the Board of Trustees, all members of which are independent of the President. The Executive Committee's review currently includes, but is not limited to, the use of comparability data and other outside consultants. The process for determining compensation for the University's other officers or key employees includes a review by the University's President, who is independent of the other officers or key employees. The President's review currently includes, but is not limited to, the use of comparability data and other outside consultants. In addition, the compensation of officers and key employees falls within the parameters of the University's non-aligned merit compensation program that is approved by the Board of Trustees on an annual basis. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 Governing documents are available in part through the Rhode Island Secretary of State's office. The University's by-laws and Conflict of Interest Policy governing employees and the corresponding disclosure form are available on the University's website. Audited financial statements are not publically available. F990_P11_S00_L09 Form 990, Part XI, Line 9 Change in fair value of interest rate swaps $1,482,417, change in value of split-interest agreements $443,291 less miscellaneous rounding on balance sheet of $675. Roger Williams University School of Law 10 Metacom Road Bristol RI 028092921 050465628 Law Grad School RI 501(c)(3) 2 N/A 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1