2014-02-14T14:37:09-06:00 2013-06-30 061009205 BLUM SHAPIRO & COMPANY PC CPA'S 29 S MAIN STREET PO BOX 272000 WEST HARTFORD CT 061272000 990 2012-07-01 061395640 RICHMOND THE AMERICAN INTERNATIONAL UNIVERSITY IN LONDON INC RICH 8605616875 C/O BLUM SHAPIRO 29 SOUTH MAIN ST WEST HARTFORD CT 06127 PROFESSOR JOHN ANNETTE 8605616875 2014-02-14 1 ELIZABETH SOLECKI P00235171 8605614000 2012 2015-11-30 17:44:51Z PROFESSOR JOHN ANNETTE ORCHARD HOUSE QUEEENS ROAD RICHMOND SURREY UK 32628826 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. 14 12 3 0 0 0 1618359 1132828 31448916 31477880 5153 4654 -11700 13464 33060728 32628826 2575631 2382025 0 0 10128600 9734575 0 0 0 21041979 20938289 33746210 33054889 -685482 -426063 10132320 9259137 6771234 6398708 3361086 2860429 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 28450789 2382025 31477880 THE UNIVERSITY HAS TAUGHT JUST UNDER 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). 28450789 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 1 0 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 0 0 0 1 0 0 3 1 0 1 UK 0 0 0 0 0 0 0 0 X 14 12 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 DE MA X MR MICHAEL SMITH RICHMOND UNIVERSITY 2083328200 QUEENS ROAD RICHMOND, SURREY UK TW10 6JP DR MARIAM ASSEFA 1.00 X 0 0 0 DR VIVIAN DAY-STROH 1.00 X 0 0 0 MR GEORGE KING 1.00 X 0 0 0 DR DEBORAH MCLEAN 3.00 X 0 0 0 MR A MICHAEL HOFFMAN 3.00 X 0 0 0 DR CLIFFORD JOSEPH 3.00 X 0 0 0 SIR CYRIL TAYLOR 3.00 X 0 0 0 PROFESSOR JOHN ANNETTE 40.00 X X 0 0 345559 MR NEIL MEADOWS 1.00 X 0 0 0 DR NICHOLAS TATE 1.00 X 0 0 0 MRS WENDY MILLER 1.00 X 0 0 0 MRS AILSA BROOKES 1.00 X 0 0 0 DR KEVIN EVERETT 1.00 X 0 0 0 DAME MARY RICHARDSON 1.00 X 0 0 0 MR PETER WILLIAMS 1.00 X 0 0 0 LORD ALAN WATSON 1.00 X 0 0 0 MR SAMI SULIEMAN 1.00 X 0 0 0 MR VIJAY TIRATHRAI 1.00 X 0 0 0 DR PHILIP DEANS 40.00 X 0 0 234757 MRS JANE CRICHTON 40.00 X 0 0 142607 MR WILLIAM SCOTT 40.00 X 0 0 305222 MRS ALLISON COLE-STUTZ 40.00 X 0 0 124874 MR DAVID CUNNINGHAM 40.00 X 0 0 85356 DR PARVIS DABIR-ALAI 40.00 X 0 0 118392 DR MARY ROBERT 40.00 X 0 0 118392 DR ALEX SEAGO 40.00 X 0 0 118392 MR JOHN MCELLISTRIM 40.00 X 0 0 117150 MR ROGER HORTON 40.00 X 0 0 115026 0 0 1825727 0 0 1 0 SODEXO PO BOX 245 310 BROADWAY SALFORD UK CATERING 1760191 MITIE PO BOX 764 PORTSMOUTH HAMPSHIRE UK FACILITIES MANAGEMENT 796955 KM CLEANING SERVICES LTD CANTERBURY HOUSE MEDWAY CITY ESTAT ROCHESTER UK CLEANING 411716 PAJ CLEANING 114 SHERBOURNE AVENUE RYDE IOW UK CLEANING 341501 BURT & TRAVICA MINSTER ROAD BROMLEY HAMPSHIRE UK CONSTRUCTION 338350 11 1132828 156870 1132828 TUITION, ROOM & BOARD 611310 31477880 31477880 31477880 4654 4654 EXCHANGE GAIN 900099 13464 13464 13464 32628826 31477880 0 18118 2382025 2382025 1211772 199691 1012081 6964170 5919545 1044625 593220 504237 88983 200815 170693 30122 764598 649908 114690 161105 161105 66242 66242 498340 498340 358305 304559 53746 1012743 860832 151911 4855644 4855644 153300 22995 130305 4654 4654 1551022 1318369 232653 9138 9138 FLORENCE & ROME STUDY C 4930746 4191134 739612 SERVICE FEES 2801730 2381471 420259 CATERING COSTS 1745758 1745758 STUDENT ACTIVITY COSTS 496401 496401 2293161 1949187 343974 33054889 28450789 4604100 0 60163 -264036 1642397 1736662 1067251 1598512 15893 15900 969503 928897 18234284 12991082 6377113 5243202 10132320 9259137 1167950 999350 293401 51811 1480563 1286220 3829320 4061327 6771234 6398708 X 2669212 2821462 691874 38967 3361086 2860429 10132320 9259137 X -426063 -74594 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 24411 -24411 21086 1325 22411 23042 -1956 21086 27850 -4808 23042 10428792 6991513 3437279 7048914 5370541 1678373 756578 629028 127550 5243202 STUDENT DEPOSITS 1265975 FEES RECEIVED IN ADVANCE 2545888 UK TAX & SOCIAL SECURITY COSTS 249464 4061327 30246801 -2382025 -2382025 32628826 0 32628826 30672864 0 30672864 2382025 2382025 33054889 PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS & GRANTS -2,382,025. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS & GRANTS 2,382,025. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 EXPLANATION OF NONDISCRIMINATORY POLICY PUBLICATION SCHEDULE E, PART I, LINE 3 INCLUDED IN THE UNIVERSITY CATALOG, WEBSITE, MISSION STATEMENT, EMPLOYMENT AND FACULTY HANDBOOKS. 1 EUROPE (INCLUDING ICELAND & GREENLAND) 4 208 PROGRAM SERVICES HIGHER EDUCATION 26068764 EUROPE (INCLUDING ICELAND & GREENLAND) 4 208 MANAGEMENT & GEN EXPS HIGHER EDUCATION 4039760 EUROPE (INCLUDING ICELAND & GREENLAND) 4 208 GRANTS SCHOLARSHIPS AND HOUSING GRANTS 2382025 12 624 0 0 12 624 32490549 0 32490549 SCHOLARSHIPS & HOUSING GRANTS EUROPE (INCLUDING ICELAND & GREENLAND) 293 2382025 REDUCTION IN INVOICE 0 0 0 0 0 0 TUITION SCHOLARSHIPS ARE ONLY ALLOCATED AGAINST A STUDENT'S ACCOUNT IF THE REQUIRED ATTENDANCE AND ACADEMIC ACHIEVEMENT IS MAINTAINED. ACHIEVEMENT IS MONITORED BY LOOKING AT GRADES, PROGRESSION, AND COMPLETION OF REGISTERED COURSES. THESE REQUIREMENTS ARE MONITORED BY THE ACADEMIC REGISTRAR'S DEPARTMENT. GRANTS FOR ROOM AND BOARD ARE ALLOCATED ON A BASIS OF FINANCIAL NEED. X X 1 1 X X X X 1 0 0 0 0 0 0 0 0 PROFESSOR JOHN ANNETTE 0 0 0 0 0 0 0 0 67192 0 67192 0 0 0 DR PHILIP DEANS 0 0 0 0 0 0 0 0 1882 0 1882 0 0 0 MR WILLIAM SCOTT 0 0 0 0 0 0 0 0 1694 0 1694 0 0 0 PART I, LINE 4A DURING THE YEAR, MR. WILLIAM SCOTT LEFT THE UNIVERSITY. INCLUDED IN THE OTHER REPORTABLE COMPENSATION BELOW IS AN AMOUNT OF $122,213 PAID AS SEVERANCE AND IN LIEU OF NOTICE. SUPPLEMENTAL INFORMATION PART III THE MANAGEMENT OF THE UNIVERSITY IS BASED IN THE UK AND THEREFORE DOES NOT MAKE W-2 OR 1099-MISC RETURNS FOR EMPLOYEES LISTED ON FORM 990 PART VII. THEREFORE COLUMNS B & C IN PART II OF SCHEDULE J ABOVE ARE LEFT BLANK. HOWEVER IF THESE RETURNS WERE MADE, THE INFORMATION WOULD BE AS FOLLOWS: BASE COMP OTHER REPORTABLE COMP NONTAXABLE BENFTS DR. JOHN ANNETTE 235,305 43,062 67,192 DR. PHILIP DEANS 196,088 36,787 1,882 MRS. ALLISON COLE-STUTZ 101,362 21,631 1,882 MRS. JANE CRICHTON 117,653 23,072 1,882 MR. DAVID CUNNINGHAM 72,406 11,585 1,365 MR. WILLIAM SCOTT 143,567 159,961 1,694 DR. PARVIS DABIR-ALAI 98,608 17,902 1,882 DR. MARY ROBERT 98,608 17,902 1,882 DR. ALEX SEAGO 98,608 17,902 1,882 MR. JOHN MCELLISTRIM 95,706 19,562 1,882 MR. ROGER HORTON 95,706 17,438 1,882 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 2801730 PAYMENTS FOR USE OF UNIVERSITY MAIN PREMISES 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 4930746 PAYMENTS TO FINANCE ITALIAN STUDY CENTRES 0 AMERICAN INSTITUTE FOR FOREIGN STUDY UK LTD ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 198384 PAYMENTS FOR LEASE OF 15 YOUNG STREET, LONDON 0 AMERICAN INSTITUTE FOR FOREIGN STUDY UK LTD ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 200752 PAYMENT TO REIMBURSE INSURANCE COSTS 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 356881 RENTAL & SERVICES FOR RECRUITMENT OFFICE IN BOSTON 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 3071372 PAYMENT BY AIFS FOR DELIVERY OF LONDON STUDY ABROAD PROGRAMS 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 5096113 PAYMENT BY AIFS FOR DELIVERY OF ITALIAN STUDY ABROAD PROGRAMS 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 476158 PAYMENT BY AIFS FOR DELIVERY OF LONDON SUMMER PROGRAMS 0 X SEE PART II 1 156870 0 0 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTIONS: PART I, COLUMN (B): THE UNIVERSITY RECEIVED A NONCASH DONATION OF $156,870 FROM THE RICHMOND FOUNDATION (A UK REGISTERED CHARITY). THIS WAS A NONCASH DONATION OF RESERVES BEING BUILT UP 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 SIX 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 ONTO THE UNIVERSITY. TOTAL NUMBER OF EMPLOYEES PART I, LINE 5: THE UNIVERSITY EMPLOYED AN AVERAGE OF 211 PEOPLE DURING THE YEAR. HOWEVER, ONLY 3 OF THESE WERE EMPLOYED IN THE USA. THIS NUMBER HAS NOT BEEN DISCLOSED IN THE FORM 990 AS THE UNIVERSITY IS LOCATED OUTSIDE OF THE USA. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED FROM THE ACCOUNTING RECORDS AS AUDITED BY BAKER TILLY 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 HUMAN RESOURCES 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 HUMAN RESOURCES. 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: EXCHANGE LOSS BETWEEN THE US DOLLAR & THE UK POUND STERLING -74,594. BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS - SCHEDULE L, PART IV: THE UNIVERSITY TRUSTEES IN THE FORM OF A COMPLIANCE COMMITTEE, REVIEW THE SERVICES AGREEMENT WITH THE AMERICAN INSTITUTE FOR FOREIGN STUDY, INC. TO ENSURE THAT SERVICES ARE PROVIDED AT FAIR VALUE. THE COMMITTEE IS PRESENTED WITH AN UPDATED REPORT ON AN ANNUAL BASIS WHICH IS REPORTED TO THE MAIN BOARD OF TRUSTEES. 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 1 0 0 THE RICHMOND FOUNDATION K 419627 LEASE AGREEMENT THE RICHMOND FOUNDATION C 472179 AGREED DONATION DONATIONS OF $472,179 FROM THE RICHMOND FOUNDATION TO THE UNIVERSITY WAS 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 $419,627 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 14 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. RICHMOND COLLEGE SERVICES LIMITED 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 LIMITED FROM PAYING UK CORPORATION TAX. ANY PROFITS DONATED BY RICHMOND COLLEGE SERVICES LIMITED TO THE RICHMOND FOUNDATION ARE IN TURN DONATED TO THE UNIVERSITY.