2014-02-04T07:00:34-06:00 2013-06-30 CROWE HORWATH LLP 70 West Madison Street Suite 700 Chicago IL 606024903 990 2012-07-01 362181973 ROSALIND FRANKLIN UNIVERSITY OF MEDICINE AND SCIENCE ROSA 8475783000 3333 Green Bay Road North Chicago IL 600643095 ROBERTA LANE 2014-01-31 true john woodhull P01305268 3128997000 2012 2015-11-30 17:44:51Z DR K MICHAEL WELCH 3333 Green Bay Road North Chicago IL 600643095 157587861 false X WWW.ROSALINDFRANKLIN.EDU X 1911 IL THE MISSION OF ROSALIND FRANKLIN UNIVERSITY IS TO SERVE THE NATION THROUGH THE INTERPROFESSIONAL EDUCATION OF HEALTH AND BIOMEDICAL PROFESSIONALS AND THE DISCOVERY OF KNOWLEDGE DEDICATED TO IMPROVING THE HEALTH OF ITS PEOPLE. 22 19 1039 19 0 0 16790493 17573161 80136005 80298069 2061002 848178 1411943 2124816 100399443 100844224 4573430 4716276 0 0 56816771 56238384 38400 0 998859 31242153 33483171 92670754 94437831 7728689 6406393 206662420 230542250 114969842 124332877 91692578 106209373 ROSALIND FRANKLIN UNIVERSITY OF MEDICINE AND SCIENCE (RFUMS) IS A PRIVATE RESEARCH UNIVERSITY WITH APPROXIMATELY 2,000 STUDENTS ENROLLED IN FOUR COLLEGES ON A CAMPUS LOCATED IN NORTH CHICAGO, ILLINOIS. FOUNDED IN 1911, RFUMS BEGAN AS THE CHICAGO MEDICAL SCHOOL AND HAS GROWN TO INCLUDE THE DR. WILLIAM M. SCHOLL COLLEGE OF PODIATRIC MEDICINE, THE COLLEGE OF HEALTH PROFESSIONS AND THE COLLEGE OF PHARMACY. THE MISSION OF RFUMS IS TO SERVE THE NATION THROUGH THE EDUCATION OF HEALTH AND BIOMEDICAL PROFESSIONALS AND THE DISCOVERY OF KNOWLEDGE DEDICATED TO IMPROVING THE HEALTH OF ITS PEOPLE. THE UNIVERSITY'S MISSION IS UNIQUELY ACCOMPLISHED WITH A FOCUS ON INTERPROFESSIONAL EDUCATION, COMMUNITY SERVICE AND RESEARCH. false false 57340206 4716276 73409882 INSTRUCTION - THE PRIMARY PURPOSE OF THE UNIVERSITY IS TO EDUCATE AND TRAIN MEDICAL AND OTHER HEALTHCARE PROFESSION STUDENTS. IN 2012, RFUMS TRAINED APPROXIMATELY 2,084 STUDENTS IN THREE OF ITS FOUR COLLEGES. THE CHICAGO MEDICAL SCHOOL HAD 754 ENROLLED AND ACTIVE STUDENTS. THE COLLEGE OF HEALTH PROFESSIONS HAD 779 STUDENTS ENROLLED IN FIFTEEN PROGRAMS. THE SCHOLL COLLEGE OF PODIATRIC MEDICINE HAD 376 STUDENTS AND THE SCHOOL OF GRADUATE AND POST-DOCTORATE STUDIES HAD 36 STUDENTS. THE COLLEGE OF PHARMACY HAD 139 STUDENTS. 13542943 RESEARCH - A CORE COMPONENT OF THE UNIVERSITY'S MISSION IS THE DISCOVERY OF KNOWLEDGE DEDICATED TO IMPROVING THE HEALTH OF THE NATION'S PEOPLE. IN ADDITION TO INSTRUCTION, MANY OF THE UNIVERSITY FACULTY ENGAGE IN UNIVERSITY-FUNDED AND EXTERNALLY FUNDED RESEARCH PROJECTS. PRIMARY AREAS OF RESEARCH FOCUS INCLUDE: STRUCTURAL BIOLOGY/ BIOCHEMISTRY, NEUROSCIENCES, AND CANCER/CELL/DEVELOPMENT BIOLOGY. EXTERNAL FUNDING COMES FROM THE NATIONAL INSTITUTE OF HEALTH AND ORGANIZATIONS SUCH AS THE AMERICAN DIABETES ASSOCIATION, THE AMERICAN CANCER SOCIETY AND THE AMERICAN HEART ASSOCIATION. 3078723 4340089 PATIENT CARE - THE UNIVERSITY UTILIZES EXISTING LABORATORY FACILITIES AND PERSONNEL TO PROCESS GENERAL LAB TESTS AND SPECIALIZED LAB TESTS FOR REPRODUCTIVE IMMUNOLOGY. SPECIMENS COME THROUGH THE ROSALIND FRANKLIN UNIVERSITY HEALTH SYSTEM AND VARIOUS UNRELATED HEALTH SYSTEMS AND DIAGNOSIS CENTERS. THE ANNUAL TESTING VOLUME AVERAGES APPROXIMATELY 68,000. THE SCHOLL FOOT & ANKLE CENTER AT THE ROSALIND FRANKLIN UNIVERSITY HEALTH SYSTEM (RFUHS) IS A FULLY FUNCTIONING PODIATRY CLINIC THAT ALSO SERVES AS A TRAINING FACILITY FOR STUDENTS FROM THE DR. WILLIAM M. SCHOLL COLLEGE OF PODIATRIC MEDICINE. SECOND- AND THIRD-YEAR PODIATRY STUDENTS COMPLETE REQUIRED CLERKSHIPS AT THE SCHOLL FOOT & ANKLE CENTER, DURING WHICH TIME THE STUDENTS PARTICIPATE IN DIRECT PATIENT CARE AND DEVELOP PROFICIENCY IN THE ASSESSMENT, DIAGNOSIS AND TREATMENT OF PODIATRIC MALADIES. ALL STUDENTS ARE SUPERVISED IN THE CLINIC BY LICENSED PODIATRIC PHYSICIANS FROM SCHOLL COLLEGE OF PODIATRIC MEDICINE. 2662344 4832820 OTHER PROGRAM SERVICE REVENUES AND EXPENSES INCLUDE INTEREST ON STUDENT LOANS AND PENALTIES, STUDENT HOUSING REVENUE AND OTHER PROGRAM SERVICES. 2662344 4832820 76624216 true true false true false false false false true true true false true true true false true true false true false false false false false false false true true true false false false false false false false false true false false false false false false true true true false false true 2706 0 true 1039 true true true false false false false false false false false false X 22 19 false false false false false false false true true false false true true true true true true true true false X ROBERTA LANE 8475783000 3333 GREEN BAY ROAD North Chicago IL 600643095 X DAVID LEACH 1.00 0.00 X X 0 0 0 FRANK H MYNARD 1.00 0.00 X X 0 0 0 GAIL WARDEN 1.00 0.00 X X 0 0 0 K MICHAEL WELCH 40.00 0.00 X X 832309 0 1105772 RUTH ROTHSTEIN 1.00 0.00 X X 0 0 0 BURTON GARFINKEL 1.00 0.00 X 0 0 0 CHERYL KRAFF-COOPER 1.00 0.00 X 0 0 0 DEBORAH B TAYLOR 1.00 0.00 X 0 0 0 ELIZABETH COULSON 1.00 0.00 X 0 0 0 KATHLEEN STONE 1.00 1.00 X 0 0 0 LISA ZENNI 1.00 0.00 X 0 0 0 MARC ABEL 40.00 0.00 X 141145 0 33428 MATTHEW HARRIS 1.00 0.00 X 0 0 0 MICHAEL C FOLTZ 1.00 0.00 X 0 0 0 MICHAEL HRILJAC 1.00 1.00 X 0 0 0 MONICA OBLINGER 40.00 0.00 X 125026 0 43515 PAMELA SCHOLL 1.00 0.00 X 0 0 0 PAULA BANKS-JONES 1.00 0.00 X 0 0 0 ROSALIND FRANKLIN JEKOWSKY 1.00 0.00 X 0 0 0 THOMAS G MOORE 1.00 0.00 X 0 0 0 VELMA BUTLER 1.00 0.00 X 0 0 0 WILFRED J LUCAS 1.00 1.00 X 0 0 0 MARGOT A SURRIDGE 30.00 10.00 X 321483 0 35625 ROBERTA LANE 40.00 0.00 X 250779 0 49483 GLORIA MEREDITH 40.00 0.00 X 229040 0 42282 JOSEPH X DIMARIO 40.00 0.00 X 211687 0 48757 NANCY PARSLEY 40.00 0.00 X 212905 0 22213 RONALD KAPLAN 40.00 0.00 X 273125 0 55046 RUSSELL G ROBERTSON 40.00 0.00 X 496031 0 42409 TIMOTHY HANSEN 40.00 0.00 X 220185 0 41320 TINA ERICKSON 40.00 0.00 X 181283 0 19492 WENDY RHEAULT 40.00 0.00 X 292470 0 34089 BALA CHANDRAN 40.00 0.00 X 282742 0 26265 DOUGLAS REIFLER 40.00 0.00 X 224601 0 47046 MARINA WOLF 40.00 0.00 X 255005 0 52561 MICHAEL ZDON 40.00 0.00 X 222660 0 48288 ROBERT BRIDGES 40.00 0.00 X 246109 0 45659 5018585 0 1793250 104 false true false G3 CONSTRUCTION GROUP 7575 PLAZA COURT WILLOWBROOK IL 60527 CONSTRUCTION 4202101 HARVARD MAINTENANCE 570 SEVENTH AVE NEW YORK NY 10018 JANITORIAL SERVICES 984870 LEGAT ARCHITECTS 37999 EAGLE WAY CHICAGO IL 606781379 ARCHITECTURAL SERVICES 570749 BALANCED ENVIRONMENTS 17950 WEST ROUTE 173 OLD MILL CREEK IL 60083 LANDSCAPING SERVICES 419665 HILL MECHANICAL SERVICES 11045 GAGE AVE FRANKLIN PARK IL 60131 MECHANICAL SYSTEM SERVICE 393935 14 11732032 5841129 17573161 TUITION & FEES 611310 73409882 73409882 PATIENT CARE 621400 4340089 4340089 STUDENT HOUSING REVENUE 611310 2546625 2546625 CONTINUING EDUCATION 611310 1473 1473 0 0 0 0 0 80298069 314483 159906 154577 0 0 0 0 0 57277332 0 56736165 7472 541167 -7472 533695 533695 0 0 0 TRANSCRIPT AND REGISTRATION FEES 900099 84212 84212 COMPOUND TESTING - LAB 621500 1031619 1031619 OTHER 900099 1008985 1008985 0 0 0 0 2124816 100844224 82582791 0 688272 0 4716276 4716276 0 0 5360899 2564673 2595451 200775 136749 72570 64179 39335645 34633527 4341733 360385 3251812 2556254 652241 43317 5162468 4394854 681720 85894 2990811 2520366 437197 33248 0 629782 629782 207887 207887 18000 18000 0 65581 65581 6271462 5809088 358099 104275 468412 40432 427830 150 7893845 7088103 705236 100506 1843600 1843600 0 2573914 2458551 108531 6832 1011990 856552 131497 23941 0 226671 205900 19531 1240 1915441 1592584 322857 0 5888663 4801247 1087416 742569 50412 692157 EQUIPMENT AND MAINTENANCE 2519456 1244024 1266159 9273 BOND FEES 612546 499432 113114 MEMBERSHIP DUES 353125 314539 31339 7247 240227 204832 13619 21776 94437831 76624216 16814756 998859 0 18806512 19672268 1085961 1197282 471996 450054 2682844 3029813 0 0 11522034 10802863 1388776 1519434 183901567 78879989 99937561 105021578 46458179 51415489 14221014 15501604 0 0 973679 1155402 9113864 20776463 206662420 230542250 10583737 12664804 4761581 4554332 50345000 65345000 0 1200000 0 48079524 41768741 114969842 124332877 X 79214469 93068595 6823947 7479172 5654162 5661607 91692578 106209374 206662420 230542250 X 6406393 1661691 6448712 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 18000 false false 18000 false Description of the activities reported on Lines 1a through 1i Schedule C, Part II-B, Line 1 THE UNIVERSITY'S LOBBYING EXPENSES REPRESENT FEES PAID TO A GOVERNMENT RELATIONS CONSULTANT WHO WORKS WITH THE ORGANIZATION ON ITS RELATIONS WITH STATE ELECTED OFFICIALS IN SPRINGFIELD. THE CONSULTANT HAS FACILITATED MEETINGS WITH STATE LEGISLATORS, KEPT THE ORGANIZATION APPRISED OF LEGISLATION THAT IMPACTS HIGHER EDUCATION, AND APPRISED THE ORGANIZATION OF POTENTIAL STATE FUNDING OPPORTUNITIES. 61765154 2526181 2357435 451688 2006920 64190162 58267600 6728666 1555354 495399 4291067 0 61765154 50856294 6733262 3492589 417461 2397084 0 58267600 52005055 796371 1579437 143790 3380779 0 50856294 75676972 478737 -22446013 618184 1086457 0 52005055 0.90590 0.08820 0.00590 false false 16286288 16286288 121849337 51634972 70214365 0 36777716 26725017 10052699 8988226 520000 8468226 105021578 0 0 HEDGE FUNDS 12369563 F PRIVATE EQUITY 2681094 F REAL ASSETS 450947 F 15501604 RECEIVABLE FROM HEALTH SYSTEMS 10305113 DEPOSIT WITH BOND TRUSTEE 10471350 20776463 0 FEDERAL EQUITY IN STUDENT LOAN PROGRAM 12773487 DERIVATIVE INSTRUMENT 7890915 POSTRETIREMENT HEALTHCARE BENEFITS 21104339 41768741 X Intended uses of endowment funds Schedule D, Part V, Line 4 THE UNIVERSITY'S ENDOWMENT IS COMPRISED OF BOTH DONOR-RESTRICTED AND BOARD-DESIGNATED FUNDS. THE INVESTMENT COMMITTEE OF THE BOARD OF TRUSTEES PROVIDES OVERSIGHT OVER THE INVESTMENT OF THOSE ENDOWMENT FUNDS BY ESTABLISHING POLICIES AND PROCEDURES CONCERNING THE MANAGEMENT OF ENDOWMENT FUNDS. INVESTMENT IS CONSISTENT WITH THE UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUND ACT (UPMIFA). RFUMS HAS ADOPTED A TOTAL RETURN SPENDING POLICY, WHICH ALLOCATES AN AMOUNT ANNUALLY TO BE UTILIZED ACCORDING TO DONOR RESTRICTIONS OR FOR ADVANCING THE UNIVERSITY'S MISSION IN UNFUNDED AREAS. THE MAJORITY OF DONOR-RESTRICTED FUNDS PROVIDE SCHOLARSHIPS AND STUDENT AID. FUNDS GENERATED BY BOARD-DESIGNATED FUNDS ARE USED TO SUPPORT STRATEGIC INITIATIVES AND TO PROVIDE GENERAL OPERATING SUPPORT. FIN 48 (ASC 740) footnote Schedule D, Part X, Line 2 THE UNIVERSITY HAS RECEIVED A FAVORABLE LETTER OF DETERMINATION FROM THE INTERNAL REVENUE SERVICE CONCERNING ITS TAX-EXEMPT STATUS UNDER SECTION 501 ( C)(3) OF THE INTERNAL REVENUE CODE. THE UNIVERSITY FILES A FORM 990 ANNUALLY. WHEN THESE RETURNS ARE FILED , IT IS HIGHLY CERTAIN THAT SOME POSITIONS TAKEN WOULD BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES, WHILE OTHERS ARE SUBJECT TO UNCERTAINTY ABOUT THE MERITS OF THE TAX POSITION TAKEN OR THE AMOUNT OF THE POSITION THAT WOULD ULTIMATELY BE SUSTAINED. EXAMPLES OF TAX POSITIONS COMMON TO UNIVERSITIES INCLUDE SUCH MATTERS AS THE FOLLOWING: THE TAX EXEMPT STATUS OF EACH ENTITY AND VARIOUS POSITIONS RELATIVE TO POTENTIAL SOURCES OF UNRELATED BUSINESS INCOME TAX (UBIT). UBIT IS REPORTED ON FORM 990-T, AS APPROPRIATE. THE BENEFIT OF A TAX POSITION IS RECOGNIZED IN THE FINANCIAL STATEMENTS IN THE PERIOD DURING WHICH, BASED ON ALL AVAILABLE EVIDENCE, MANAGEMENT BELIEVES THAT IT IS MORE LIKELY THAN NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING THE RESOLUTION OF APPEALS OR LITIGATION PROCESSES, IF ANY. TAX POSITIONS ARE NOT OFFSET OR AGGREGATED WITH OTHER POSITIONS. TAX POSITIONS THAT MEET THE "MORE LIKELY THAN NOT" RECOGNITION THRESHOLD ARE MEASURED AS THE LARGEST AMOUNT OF TAX BENEFIT THAT IS MORE THAN 50% LIKELY TO BE REALIZED ON SETTLEMENT WITH THE APPLICABLE TAXING AUTHORITY. THE PORTION OF THE BENEFITS ASSOCIATED WITH TAX POSITIONS TAKEN THAT EXCEEDS THE AMOUNT MEASURED AS DESCRIBED ABOVE WOULD BE REFLECTED AS A LIABILITY FOR UNCERTAIN TAX BENEFITS IN THE ACCOMPANYING STATEMENTS OF FINANCIAL POSITION ALONG WITH ANY ASSOCIATED INTEREST AND PENALTIES THAT WOULD BE PAYABLE TO THE TAXING AUTHORITIES UPON EXAMINATION. AS OF JUNE 30, 2013 AND 2012, THERE WERE NO UNCERTAIN TAX POSITIONS IDENTIFIED. THE UNIVERSITY DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. FORMS 990 AND 990-T FILED BY THE UNIVERSITY ARE SUBJECT TO THE EXAMINATION BY THE IRS UP TO THREE YEARS FROM THE EXTENDED DUE DATE OF EACH RETURN. MANAGEMENT BELIEVES THE FORMS 990 AND 990-T HAVE BEEN FILED APPROPRIATELY. FORMS 990 AND 990-T FILED BY THE UNIVERSITY ARE NO LONGER SUBJECT TO EXAMINATION FOR THE FISCAL YEARS ENDED JUNE 30, 2009 OR PRIOR. THE UNIVERSITY WOULD RECOGNIZE INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX POSITIONS IN INTEREST AND INCOME TAX EXPENSE, RESPECTIVELY. THE UNIVERSITY HAS NO AMOUNTS ACCRUED FOR INTEREST OR PENALTIES AS OF JUNE 30, 2013 AND 2012. true true true true true true true false false false false false false false false false false true Racially nondiscriminatory policy Schedule E, Part I, Line 3 ANNOUNCEMENTS INDICATE THAT THE UNIVERSITY IS OPEN TO EVERYONE REGARDLESS OF RACE, GENDER, COLOR, OR CREED. EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES CONFERENCES AND MEETINGS ABROAD 54604 NORTH AMERICA (CANADA & MEXICO ONLY) 0 0 PROGRAM SERVICES CONFERENCES AND MEETINGS ABROAD 47724 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES CONFERENCE AND MEETINGS ABROAD 1777 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 10259843 SOUTH AMERICA 0 0 PROGRAM SERVICES CONFERENCE 5512 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES GLOBAL HEALTH CONFERENCE 8903 0 0 10378363 true false true false true false Method used to account for expenditures on organization's financial statements Schedule F, Part I, Line 3 CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL EAST ASIA AND THE PACIFIC: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL MIDDLE EAST AND NORTH AFRICA: ACCRUAL NORTH AMERICA (CANADA & MEXICO ONLY): ACCRUAL Method used to account for expenditures on organization's financial statements Schedule F, Part I, Line 3 CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL EAST ASIA AND THE PACIFIC: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL MIDDLE EAST AND NORTH AFRICA: ACCRUAL NORTH AMERICA (CANADA & MEXICO ONLY): ACCRUAL true TUITION WAIVERS 597 3297826 0 N/A N/A PRIVATE SCHOLARSHIPS 162 882677 0 N/A N/A DEPT. OF DEFENSE SCHOLARSHIPS 10 417016 0 N/A N/A DEPENDANT TUITION WAIVERS 5 118757 0 N/A N/A Procedures for monitoring use of grant funds Schedule I, Part I, Line 2 GRANTS AND SCHOLARSHIPS ARE AWARDED TO STUDENTS VIA A DIRECT REDUCTION IN THEIR BILLED TUITION FOR THE TERM UNDER WHICH THE GRANT OR SCHOLARSHIP APPLIES. THE USE OF THESE GRANTS AND SCHOLARSHIPS IS LIMITED IN THAT MONIES CAN ONLY BE APPLIED TO TUITION COSTS RELATED TO THE SPECIFIC RFUMS PROGRAM A RECIPIENT IS ENROLLED IN. X true true X X X X false true false false false false false false false K MICHAEL WELCH 793309 0 0 0 39000 0 1080502 0 25270 0 1938081 0 0 0 TIMOTHY HANSEN 220185 0 0 0 0 0 22500 0 18820 0 261505 0 0 0 WENDY RHEAULT 292470 0 0 0 0 0 25000 0 9089 0 326559 0 0 0 GLORIA MEREDITH 229040 0 0 0 0 0 23462 0 18820 0 271322 0 0 0 ROBERT BRIDGES 246109 0 0 0 0 0 25000 0 20659 0 291768 0 0 0 ROBERTA LANE 250779 0 0 0 0 0 25000 0 24483 0 300262 0 0 0 BALA CHANDRAN 282742 0 0 0 0 0 25000 0 1265 0 309007 0 0 0 MARGOT A SURRIDGE 321483 0 0 0 0 0 25000 0 10625 0 357108 0 0 0 MARINA WOLF 255005 0 0 0 0 0 25000 0 27561 0 307566 0 0 0 NANCY PARSLEY 212905 0 0 0 0 0 21461 0 752 0 235118 0 0 0 RONALD KAPLAN 273125 0 0 0 0 0 25000 0 30046 0 328171 0 0 0 JOSEPH X DIMARIO 211687 0 0 0 0 0 20000 0 28757 0 260444 0 0 0 RUSSELL G ROBERTSON 496031 0 0 0 0 0 25000 0 17409 0 538440 0 0 0 MONICA OBLINGER 125026 0 0 0 0 0 13469 0 30046 0 168541 0 0 0 TINA ERICKSON 181283 0 0 0 0 0 18192 0 1300 0 200775 0 0 0 MARC ABEL 141145 0 0 0 0 0 14589 0 18839 0 174573 0 0 0 DOUGLAS REIFLER 224601 0 0 0 0 0 22000 0 25046 0 271647 0 0 0 MICHAEL ZDON 222660 0 0 0 0 0 20727 0 27561 0 270948 0 0 0 Housing allowance or residence for personal use Schedule J, Part I, Line 1a RFUMS PROVIDES HOUSING FOR ITS PRESIDENT, DR. K. MICHAEL WELCH. THE COST ASSOCIATED WITH THIS BENEFIT WAS TREATED AS TAXABLE COMPENSATION AND ACCORDINGLY HAS BEEN INCLUDED IN W-2 WAGES. Supplemental nonqualified retirement plan Schedule J, Part I, Line 4b THE UNIVERSITY HAS AN AGREEMENT WITH DR. K. MICHAEL WELCH WHICH PROVIDES FOR A SUPPLEMENTAL RETIREMENT BENEFIT UPON HIS RETIREMENT. THE UNIVERSITY ACCRUED $1,054,000 IN EXPENSE AS A RESULT OF THIS AGREEMENT FOR THE YEAR ENDED JUNE 30, 2013. THE PLAN DOES NOT BECOME VESTED UNTIL DECEMBER 31, 2017. A ILLINOIS FINANCE AUTHORITY 362780046 45200PVN4 2003-02-03 57500000 EDUCATIONAL FACILITIES AND RENOVATIONS false false false B ILLINOIS FINANCE AUTHORITY 362780046 2012-10-01 15500000 CONSTRUCT EDUCATIONAL FACILITIES false false false A 0 0 57600299 0 0 0 735748 1624929 0 25211184 30028438 0 2006 true false true true B 0 0 15500000 0 0 0 245042 0 0 5028650 0 10471350 false false false true A false false false false false false 0.0000 0.0000 0.0000 false false 0.0000 false true B false false false false false false 0.0000 0.0000 0.0000 false false 0.0000 false true A false false false true true false 0 false false false 0 false false false B false true false false true false 0.0 false false false 0.0 false false false A true B true ISSUER NAME: Illinois Finance Authority : No Rebate Due. Schedule K, Part IV, Line 2c THE CALCULATION FOR COMPUTING NO REBATE DUE WAS PERFORMED ON 03/08/2013. SCOTT SURRIDGE SON OF EVP AND COO 64179 EMPLOYEE OF THE UNIVERSITY false JUNE MAYOR WIFE OF KEY EMPLOYEE 72570 EMPLOYEE OF THE UNIVERSITY false Review of form 990 by governing body Form 990, Part VI, Section B, Line 11b THE ORGANIZATION'S CHIEF FINANCIAL OFFICER CONDUCTS A DETAILED REVIEW OF THE FORM 990 IN CONJUNCTION WITH RFUMS' OUTSIDE INDEPENDENT TAX PREPARER. A FORMAL REVIEW OF THE FULL FORM 990 IS THEN CONDUCTED BY THE ORGANIZATION'S OFFICERS, MEMBERS OF MANAGEMENT AND THE INDEPENDENT EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. SUBSEQUENT TO THIS REVIEW, A COPY OF THE FULL FORM 990 IS DISTRIBUTED TO EACH VOTING MEMBER OF THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. Conflict of interest policy Form 990, Part VI, Section B, Line 12c RFUMS HAS WRITTEN CONFLICT OF INTEREST POLICIES FOR MEMBERS OF THE BOARD OF TRUSTEES AND OFFICERS OF THE CORPORATION. IN ADDITION, CONFLICT OF INTEREST POLICIES AND DISCLOSURE REQUIREMENTS COVER SENIOR ADMINISTRATION AND FACULTY, AND ALL INVESTIGATORS ENGAGED IN UNIVERSITY-SPONSORED OR EXTERNALLY FUNDED RESEARCH. ON AN ANNUAL BASIS, MEMBERS OF THE GROUPS NOTED ARE REQUIRED TO DISCLOSE ANY INTERESTS THAT COULD GIVE RISE TO ANY CONFLICTS AND PROVIDE A LIST OF ANY POTENTIAL AND ACTUAL CONFLICTS. BOARD OF TRUSTEES AND OFFICER DISCLOSURE DOCUMENTS ARE MONITORED BY THE EXECUTIVE COMMITTEE OF THE BOARD. ALL OTHERS ARE MONITORED BY THE UNIVERSITY CHIEF COMPLIANCE OFFICER. A TRUSTEE MAY NOT PARTICIPATE IN OR BE PRESENT DURING DELIBERATIONS REGARDING ANY MATTER WHERE THERE IS AN ACTUAL OR PERCEIVED CONFLICT OF INTEREST. THE REMAINING TRUSTEES DETERMINE THE PROPER COURSE OF ACTION. MINUTES OF THE MEETING REFLECT BOTH THE NAME OF AND THE NATURE OF THE CONFLICT. Process used to establish compensation of top management official Form 990, Part VI, Section B, Line 15a THE TOTAL COMPENSATION PACKAGE OF THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL IS ESTABLISHED, APPROVED AND REVIEWED EACH YEAR BY THE ORGANIZATION'S INDEPENDENT COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES AND REPORTED TO THE FULL BOARD OF TRUSTEES. THE ORGANIZATIONAL COMPENSATION PHILOSOPHY IS TO COMPENSATE TOP MANAGEMENT AT THE 75TH PERCENTILE OR BELOW OF THE MARKET. TO ENSURE THAT COMPENSATION IS BOTH REASONABLE AND COMPETITIVE, BIENNIALLY THE BOARD RETAINS THE SERVICES OF AN OUTSIDE INDEPENDENT CONSULTING FIRM WITH EXPERTISE IN ACADEMIC HEALTHCARE. THE INDEPENDENT CONSULTANT CONDUCTS A MARKET SURVEY THAT PROVIDES THE BOARD WITH COMPARABILITY DATA FOR COMPENSATION FOR SIMILARLY QUALIFIED PERSONS AT SIMILAR ORGANIZATIONS. THE DECISIONS AND DELIBERATIONS REGARDING THE REVIEW AND APPROVAL OF THE TOP MANAGEMENT OFFICIAL'S COMPENSATION ARE DOCUMENTED IN THE BOARD MINUTES. THIS PROCESS WAS LAST UNDERTAKEN FOR THE ORGANIZATION'S TOP MANAGEMENT OFFICIAL IN JANUARY, 2013. Process used to establish compensation of other officers/key employees Form 990, Part VI, Section B, Line 15b THE TOTAL COMPENSATION PACKAGE OF THE ORGANIZATION'S OTHER OFFICERS OR KEY EMPLOYEES IS ESTABLISHED, APPROVED AND REVIEWED EACH YEAR BY THE ORGANIZATION'S INDEPENDENT COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES AND REPORTED TO THE FULL BOARD OF TRUSTEES. THE ORGANIZATIONAL COMPENSATION PHILOSOPHY IS TO COMPENSATE ORGANIZATION'S OTHER OFFICERS OR KEY EMPLOYEES AT THE 75TH PERCENTILE OR BELOW OF THE MARKET. TO ENSURE THAT COMPENSATION IS BOTH REASONABLE AND COMPETITIVE, BIENNIALLY THE BOARD RETAINS THE SERVICES OF AN OUTSIDE INDEPENDENT CONSULTING FIRM WITH EXPERTISE IN ACADEMIC HEALTHCARE. THE INDEPENDENT CONSULTANT CONDUCTS A MARKET SURVEY THAT PROVIDES THE BOARD WITH COMPARABILITY DATA FOR COMPENSATION FOR SIMILARLY QUALIFIED PERSONS AT SIMILAR ORGANIZATIONS. THE DECISIONS AND DELIBERATIONS REGARDING THE REVIEW AND APPROVAL OF THE OTHER OFFICERS OR KEY EMPLOYEES' COMPENSATION ARE DOCUMENTED IN THE BOARD MINUTES. THIS PROCESS WAS LAST UNDERTAKEN FOR THE ORGANIZATION'S OTHER OFFICERS OR KEY EMPLOYEES' IN JANUARY, 2013. Governing documents, conflict of interest policy and financial statements available to the public Form 990, Part VI, Section C, Line 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. COMPENSATION OF OFFICERS, DIRECTORS, TRUSTEES, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES: FORM 990, PART VII, SECTION A MONICA OBLINGER AND MARC ABEL ARE NOT COMPENSATED BY RFUMS IN THEIR CAPACITY AS BOARD MEMBERS, BUT THEY DO RECEIVE COMPENSATION IN THE CAPACITY AS FACULTY MEMBERS OF THE UNIVERSITY. Other changes in net assets or fund balances Form 990 , Part XI, Line 9 POST RETIREMENT EXPENSE - -1933874; UNREALIZED GAIN ON INTEREST RATE SWAP - 3953051; POSTRETIREMENT ACTUARIAL CHANGE - 4429535; ROSALIND FRANKLIN UNIVERSITY HEALTH SYSTEM 3333 GREEN BAY ROAD NORTH CHICAGO IL 60064 HEALTH CARE IL 501(C)(3) 11 - Type I RFUMS true false false false true false false false false false false false false false true true true false true false ROSALIND FRANKLIN UNIVERSITY HEALTH SYSTEM D 10305113 ACTUAL COST ROSALIND FRANKLIN UNIVERSITY HEALTH SYSTEM R 1200000 ACTUAL COST ROSALIND FRANKLIN UNIVERSITY HEALTH SYSTEM P 801571 ACTUAL CASH