2013-05-15T13:36:18-05:00 2012-06-30 KPMG LLP One Financial Plaza Hartford CT 061032608 990 2011-07-01 060761704 University of New Haven % GEORGE SYNODI UNIV 2039327000 300 Boston Post Road West Haven CT 06516 George S Synodi 2013-05-14 true KPMG 8605223200 2011 2016-02-25 16:41:14Z Steven Kaplan 300 Boston Post Road West Haven CT 06516 236699512 false X www.newhaven.edu X 1920 CT THE UNIVERSITY OF NEW HAVEN IS A STUDENT-CENTERED COMPREHENSIVE UNIVERSITY WITH AN EMPHASIS ON EXCELLENCE IN LIBERAL ARTS AND PROFESSIONAL EDUCATION. SEE SCHEDULE O FOR DETAIL. 30 30 2666 163 0 0 10418889 12922356 171995932 196033684 1399590 580462 3269505 3059269 187083916 212595771 52677408 61068124 0 0 65289507 72629863 92796 0 2477559 52983562 61482063 171043273 195180050 16040643 17415721 208667310 223723520 125888417 135202044 82778893 88521476 X The University of New Haven is a student-centered comprehensive University with an emphasis on excellence in liberal arts and professional education. Our mission is to prepare our students to lead purposeful and fulfilling lives in a global society by providing the highest quality education through experiential, collaborative, and discovery-based learning. false false 144364918 56793355 172497224 UNDERGRADUATE EDUCATION ======================= THE UNIVERSITY OF NEW HAVEN IS A PRIVATE UNIVERSITY, FOUNDED IN 1920, WITH AN 82 ACRE MAIN CAMPUS. UNH HAS AN UNDERGRADUATE ENROLLMENT OF 4,607 STUDENTS WITH 57 PERCENT RESIDING IN UNIVERSITY HOUSING. THE UNIVERSITY OFFERS MORE THAN 80 UNDERGRADUATE DEGREES THROUGH ITS FOUR COLLEGES, IN INNOVATIVE FIELDS SUCH AS SPORTS MANAGEMENT, NUTRITION AND DIETETICS, FORENSIC SCIENCE, MUSIC AND SOUND RECORDING, ENGINEERING, COMPUTER SCIENCE, FIRE SCIENCE AND CRIMINAL JUSTICE. UNH ALSO OFFERS ITS STUDENTS A STUDY ABROAD PROGRAM THROUGH A VARIETY OF UNIQUE OFFERINGS. 22338221 4274769 26691426 GRADUATE EDUCATION ================== THE GRADUATE SCHOOL HAS AN ENROLLMENT OF 1,778 STUDENTS AND MORE THAN 30 GRADUATE DEGREE OFFERINGS. THE GRADUATE SCHOOL HELPS STUDENTS ACHIEVE A MORE MEANINGFUL CAREER, THE BENEFITS OF LIFELONG LEARNING AND A SENSE OF RESPONSIBILITY AS A CITIZEN OF THE WORLD. 166703139 true true false true false false true false true true false false false true true false true true true true false false false true false false false true true true false false false false false true true true false true true false false false false true true false false false true 604 0 true 2666 true false false false false false true true false false false false X 30 30 false false false false false false false true true false false true true true true true true true true false CT X X GEORGE SYNODI 2039327273 300 BOSTON POST ROAD WEST HAVEN CT 06516 X X SAMUEL S BERGAMI JR 1.0 X MARY J BARNEBY 1.0 X PHILIP H BARTELS 1.0 X CECILIA K CARTER 1.0 X GAIL L BREKKE 1.0 X KENNETH W BIERMACHER 1.0 X WILLIAM L BUCKNALL JR 1.0 X FRANK P CARRUBBA 1.0 X WILLIAM J CHOWANEC 1.0 X K ONI CHUKWU 1.0 X RALPH F DELLACAMERA JR 1.0 X KEVEN A MYATT 1.0 X ROSA M GATTI 1.0 X JEFFREY P HAZELL 1.0 X THOMAS K LEWIS JR 1.0 X RAYMOND J MARGIANO PHD 1.0 X ERNEST F SCHAUB 1.0 X DAVID J PETERSON 1.0 X PATRICIA B SWEET 1.0 X STEPHEN P TAGLIATELA 1.0 X SAMUEL E THURSTON 1.0 X ALLISON K SCHIEFFELIN 1.0 X DOUGLAS D WATTS 1.0 X ROLAND YOUNG 1.0 X ROBERT M LEE 1.0 X MICHAEL J QUIELLO 1.0 X VICTOR M POLANCO 1.0 X ERIKA H TURNER 1.0 X ALLEN G LOVE JR 1.0 X JOHN J FALCONI 1.0 X STEVEN KAPLAN 35.0 X 546985 143678 DAVID P DAUWALDER 35.0 X 242878 33916 GEORGE S SYNODI 35.0 X 242811 44841 RICHARD TUCHMAN 35.0 X 230431 16933 MARGARET JABLONSKI 35.0 X 212189 20286 CAROLINE KOZIATEK 35.0 X 204478 39459 JAMES MCCOY 35.0 X 259193 44383 MARY L MCLAUGHLIN 35.0 X 179732 9831 RICHARD WARD 35.0 X 203527 42402 GAYLE TAGLIATELA 35.0 X 163037 35644 MARIO GABOURY 35.0 X 167400 42366 IRA KLEINFELD 35.0 X 138642 33658 RICHARD HIGHFIELD 35.0 X 179675 34215 HENRY LEE 35.0 X 184363 14723 KEVIN PHILLIPS 35.0 X 180292 24569 M ALI MONTAZER 35.0 X 171894 39007 ALLEN SACK 35.0 X 170876 31631 WILLIAM LEETE 35.0 X 128760 32743 3807163 684285 114 true true false CENTERS LLC 1140 CONNECTICUT AVENUE WASHINGTON DC 20036 MANAGERIAL SERVICES 360540 WIGGIN AND DANA LLP 265 CHURCH STREET NEW HAVEN CT 06510 LEGAL 278374 KPMG LLP 60 SOUTH STREET TWO FINANCIAL PLAZ BOSTON MA 02111 AUDIT 165600 SHIPMAN GOODWIN LLP ONE CONSTITUTION PLAZA HARTFORD CT 06103 LEGAL 190310 LAWN MASTER LLC 112 NUTMEG HILL ROAD HAMDEN CT 06514 LAWN SERVICE 228650 5 171294 5910783 6840279 129788 12922356 TUITION 611710 164622982 164622982 RESIDENCE FEES 721310 20693481 20693481 DINING FEES 721310 10717221 10717221 196033684 523900 523900 1094 1094 0 23890757 23835289 55468 55468 55468 172755 171294 268452 -95697 -95697 0 0 AMORTIZING CAPITAL 787500 787500 TRANSCRIPTING 378350 378350 BOOKSTORE 218038 218038 1771078 1771078 3154966 212595771 199188650 484765 0 61068124 61068124 0 0 3469061 433574 2590990 444497 0 53124737 44232645 7836720 1055372 4146599 3452536 611687 82376 8151745 6787294 1202509 161942 3737721 3112096 551372 74253 18275 18275 791561 2701 741912 46948 168096 168096 91763 91763 0 259124 173839 85285 6908931 3675849 3029296 203786 1170414 482884 675749 11781 0 0 0 0 2075349 1787278 168531 119540 0 0 4178879 3552045 605940 20894 0 8654696 7356507 1254930 43259 1284464 947987 336238 239 FOOD SERVICE 9236912 9236912 EQUIPMENT & PROPERTY LEASING 4377881 4344809 25116 7956 SUPPLIES 6424012 3335009 2980127 108876 PURCHASED SERVICES 1475438 1355582 119856 14366268 11347193 2923235 95840 195180050 166703139 25999352 2477559 0 0 37592695 46980457 2869116 5039577 4740656 4446553 60000 116000 0 0 3153221 2950725 0 0 1851854 1776370 228783868 96128581 128768778 132655287 25408764 25930808 4222226 3827743 0 0 0 0 0 0 208667310 223723520 10582543 14841467 3453060 3453060 14097384 10032590 84321302 82162305 0 0 0 0 0 0 0 0 13434128 24712622 125888417 135202044 X 61082753 61424186 10672272 15484961 11023868 11612329 82778893 88521476 208667310 223723520 X 17415721 -11673138 X X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 91763 false false 91763 false LOBBYING ACTIVITY PART II-B, LINE 1G THE UNIVERSITY OF NEW HAVEN USES THE SERVICES OF "THE NORMANDY GROUP". "THE NORMANDY GROUP" WORKS WITH THE UNIVERSITY TO ADVANCE ITS FEDERAL, LEGISLATIVE AGENDA AND OBTAIN FUNDING THROUGH THE VARIOUS FY12 APPROPRIATIONS BILLS. IN ADDITION, THE UNIVERSITY PAYS DUES TO VARIOUS PROFESSIONAL ORGANIZATIONS. AN IMMATERIAL AMOUNT OF THESE DUES ARE ATTRIBUTED TO LOBBYING EXPENSES. 40000 X X false 23487519 562777 -159994 188631 161431 23540240 16433367 3908202 3543003 227107 169946 23487519 11627936 4311901 897434 245113 158791 16433367 14276891 -2257805 321708 69442 11627936 0.37000 0.16000 0.47000 false false false 10283847 10283847 150148504 47917448 102231056 4490906 3414362 1076544 49156402 39291695 9864707 14704209 5505076 9199133 132655287 0 POST RETIREMENT OBLIGATION 3573069 INTEREST RATE SWAP 21139553 24712622 212595771 195180050 17415721 -1036525 -10636613 -11673138 5742583 211669039 -1036525 358673 -677852 212346891 216588 32292 248880 212595771 205926456 10995286 10995286 194931170 216588 32292 248880 195180050 COLLECTIONS OF ART SCHEDULE D PART III, LINE 4 THE UNIVERSITY OF NEW HAVEN'S COLLECTIONS INCLUDE AN ORIENTAL RUG $22,000 AND A SERIES OF PAINTINGS $18,000, WHICH ARE ON DISPLAY AT VARIOUS LOCATIONS THROUGH THE UNIVERSITY. ENDOWMENT SCHEDULE D PART V, LINE 4 THE UNIVERSITY'S ENDOWMENT CONSIST OF 151 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES, INCLUDING BOTH DONOR RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE UNIVERSITY TO FUNCTION AS ENDOWMENTS (QUASI ENDOWMENTS). THE UNIVERSITY MANAGES ITS LONG-TERM INVESTMENTS TO ENSURE THAT THE FUTURE GROWTH OF THE ENDOWMENTS IS SUFFICIENT TO OFFSET NORMAL INFLATION PLUS REASONABLE SPENDING, THEREBY PRESERVING THE CONSTANT DOLLAR VALUE AND PURCHASING POWER OF THE ENDOWMENT FOR FUTURE GENERATIONS. THE UNIVERSITY'S ANNUAL SPENDING DISTRIBUTION IS DETERMINED BY APPLYING A SPENDING FORMULA OUTLINED IN THE ENDOWMENT SPENDING POLICY. THE ACTUAL ENDOWMENT FUND DISTRIBUTION SHALL BE AT AN ANNUAL RATE THAT IS THE LESSER OF: (1) FOUR AND ONE-HALF (4.5%) BASED UPON THE TWELVE QUARTER MOVING AVERAGE MARKET VALUE OF THE FUND'S VALUE AT THE BEGINNING OF EACH QUARTER WITH A ONE-QUARTER LAG, OR (2) THE ANNUAL YIELD (DIVIDENDS AND INTEREST) AS MEASURED BY THE PRECEDING FISCAL YEAR. THE UNIVERSITY'S ENDOWMENT INCLUDES BOTH DONOR RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS AN ENDOWMENT. THE UNIVERSITY CLASSIFIES AS PERMANENTLY RESTRICTED NET ASSETS (A) THE ORIGINAL VALUE OF GIFTS DONATED TO THE PERMANENT ENDOWMENT, (B) THE ORIGINAL VALUE OF SUBSEQUENT GIFTS TO THE PERMANENT ENDOWMENT, AND (C) ACCUMULATION TO THE PERMANENT ENDOWMENT MADE IN ACCORDANCE WITH THE DIRECTION OF THE APPLICABLE DONOR GIFT INSTRUMENT AT THE TIME THE ACCUMULATION IS ADDED TO THE FUND. FIN 48 FOOTNOTE PART X, LINE 2 THE UNIVERSITY WAS GRANTED AN EXEMPT STATUS UNDER THE INTERNAL REVENUE CODE (IRC) SECTION 501(A),AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3). UNDER IRC SECTION 501(A) THE UNIVERSITY IS GENERALLY EXEMPT FROM INCOME TAXES. THE UNIVERSITY BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. OTHER RECONCILIATION FROM FORM 990 TO AUDITED FINANCIAL STATEMENTS PART XI, LINE 8 INTEREST RATE SWAP (10,682,041) HENRY C. LEE INSTITUTE NET CHANGE 45,428 ------------- TOTAL OTHER ITEMS (10,636,613) OTHER REVENUE INCLUDED IN FINANCIAL STATEMENTS BUT NOT ON FORM 990 PART XII, LINE 2D FUNDRAISING EXPENSE 268,452 INCOME ON NON-CONSOLIDATED SUB 90,221 ----------- TOTAL OTHER ITEMS 358,673 OTHER AMOUNTS INCLUDED ON FORM 990, PART VIII, LINE 12 BUT NOT ON LINE 1 PART XII, LINE 4B FISCAL YEAR 2012 ADJUSTMENT FOR GOLF TOURNAMENT EXPENSE PREVIOUSLY $32,292 RECORDED AS REVENUE OTHER EXPENSES INCLUDED IN FINANCIAL STATEMENTS BUT NOT ON FORM 990 PART XIII, LINE 2D INTEREST RATE SWAP 10,682,041 FUNDRAISING EXPENSE 268,452 EXPENSES ON NON-CONSOLIDATED SUB 44,793 ------------ TOTAL OTHER EXPENSES 10,995,286 OTHER AMOUNTS INCLUDED ON FORM 990, PART IX, LINE 25, BUT NOT ON LINE 1 PART XIII, LINE 4B FISCAL YEAR 2012 ADJUSTMENT FOR GOLF TOURNAMENT EXPENSE PREVIOUSLY $32,292 RECORDED AS REVENUE true true true true true true true false false false false false false false false true false true Non-Discrimination Policy Schedule E Part I, Line 3 The University of New Haven references its non-discrimination policy in its publications including course catalogs, job applications and student applications. Financial Aid Funds Schedule E Part I, Line 6A The University of New Haven receives financial aid funds for disbursement to students. Federal funds include, SEOG, Pell, Perkins and Federal Work Study. State funds include CICS and the Capital Scholarship programs. East Asia and the Pacific Program Services RECRUITMENT 284110 Europe (Including Iceland and Greenland) Program Services RECRUITMENT 6124 Middle East and North Africa Program Services RECRUITMENT 147098 North America Program Services RECRUITMENT 2482 Middle East and North Africa Program Services INSTRUCTION 233090 East Asia and the Pacific Program Services STUDY ABROAD 45038 Europe (Including Iceland and Greenland) Program Services STUDY ABROAD 255872 Russia and the Newly Independent States Program Services STUDY ABROAD 7107 980921 980921 false false false false false true GOLF TOURNAMENT 207275 119373 87902 3818 74124 103778 SCHOL. BALL 136774 51921 84853 14408 32290 40034 0 344049 171294 172755 18226 32290 74124 143812 268452 -95697 true FEDERAL 385 966287 PRIVATE AID 115 605567 STATE AID 677 2669945 INSTITUTIONAL AID 4255 56826325 Financial Aid Programs Schedule I, Part IV The University of New Haven is committed to assisting students in financing their education. The university offers a comprehensive financial aid program, with the students receiving assistance in the form of grants, scholarships, student loans, and part-time employment. Funds are available from federal and state governments, private sponsors, and from university resources. More than 80% of the university's full-time undergraduate students receive some form of financial assistance. Most financial aid awards are based on an individual's demonstration of need after careful consideration of the application for assistance. In calculating need, the financial aid office attempts to consider all aspects of a student's financial circumstances. Need-based awards are only available to U.S. citizen's or eligible non-citizens. Some funds are available on a merit basis for students who have exceptional academic records or athletic ability. Students must be making satisfactory academic progress and be in good academic standing in order to be eligible to receive financial aid. Graduate students must successfully complete all credits for which financial aid has been awarded, as indicated on the student's individual financial aid award letter. X true true X X X X X false false false false false false false true false STEVEN KAPLAN 389241 100000 57744 123400 20278 690663 DAVID P DAUWALDER 242378 500 33416 500 276794 GEORGE S SYNODI 222811 20000 17820 27021 287652 RICHARD TUCHMAN 214931 15500 16433 500 247364 MARGARET JABLONSKI 212189 19274 1012 232475 RICHARD HIGHFIELD 179600 75 14130 20085 213890 MARY L MCLAUGHLIN 113065 66667 8667 1164 189563 RICHARD WARD 203527 16157 26245 245929 CAROLINE KOZIATEK 184478 20000 14738 24721 243937 HENRY LEE 184363 14026 697 199086 GAYLE TAGLIATELA 160847 2190 12740 22904 198681 WILLIAM LEETE 128760 10144 22599 161503 JAMES MCCOY 235303 23890 18508 25875 303576 MARIO GABOURY 159150 8250 13103 29263 209766 KEVIN PHILLIPS 163330 16962 24569 204861 M ALI MONTAZER 171894 13711 25296 210901 ALLEN SACK 162676 8200 12776 18855 202507 IRA KLEINFELD 138642 11236 22422 172300 HOUSING ALLOWANCE SCHEDULE J, PART I, LINE 4A A PORTION OF THE $57,744 REPORTED AS OTHER REPORTABLE INCOME IN COLUMN III FOR STEVEN KAPLAN REPRESENTS A HOUSING ALLOWANCE PROVIDED BY THE UNIVERSITY. THE PRESIDENT IS THE ONLY EMPLOYEE WHO RECEIVES A HOUSING ALLOWANCE. THIS FORM OF COMPENSATION IS TYPICAL FOR A UNIVERSITY PRESIDENT AND THE AGREEMENT WAS APPROVED BY THE UNIVERSITY'S BOARD OF GOVERNORS. THE UNIVERSITY OF NEW HAVEN BUSINESS OFFICE PROCESSED THE HOUSING ALLOWANCE PAYMENT AFTER SECURING THE APPROVED EMPLOYMENT CONTRACT FOR THE PRESIDENT. THE HOUSING ALLOWANCE PROVISION WAS CREATED BY FOLLOWING THE UNIVERSITY'S COMPENSATION POLICY. A FORMALIZED WRITTEN EMPOLYMENT CONTRACT CONTAINING THE HOUSING ALLOWANCE WAS APPROVED BY THE CHAIRMAN OF THE BOARD OF GOVERNORS. THE HOUSING ALLOWANCE IS INCLUDED IN TAXABLE INCOME. NON-QUALIFIED RETIREMENT PLAN SCHEDULE J, PART I, LINE 4B THE FOLLOWING INDIVIDUAL PARTICIPATED IN A NON-QUALIFIED RETIREMENT PLAN UNDER IRC SECTION 457(F). THIS AMOUNT HAS BEEN REPORTED ON SCHEDULE J, COLUMN C AS DEFERRED COMPENSATION. STEVEN KAPLAN $76,500 NON-FIXED PAYMENTS SCHEDULE J, PART I, LINE 7 OFFICERS (EXCEPT THE PRESIDENT) AND KEY EMPLOYEES WERE ISSUED PERFORMANCE BASED INCENTIVES AS ISSUED BY THE PRESIDENT. THESE PAYMENTS WERE MADE TO THE EMPLOYEES FOR MEETING OR EXCEEDING THEIR PERFORMANCE GOALS FOR THE YEAR. INCENTIVE PAYMENTS MADE TO THE PRESIDENT WERE MADE IN ACCORDANCE WITH HIS WRITTEN EMPLOYMENT CONTRACT AS APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF GOVERNORS. STATE OF CONN HEALTH & EDUCAT FACILITIES AUTHORITY 060806186 2077fu4u6 2005-08-17 27460000 DEFERRED MAINTENANCE & RENOVATION false false false STATE OF CONN HEALTH & EDUCAT FACILITIES AUTHORITY 060806186 20774u4v4 2008-07-02 46000000 CONSTRUCTION & EQUIP. NEW FACILITY false false false STATE OF CONN HEALTH & EDUCAT FACILITIES AUTHORITY 060806186 20774u4w2 2006-08-29 15890000 CONSTRUCTION & EQUIP. NEW FACILITY false false false 27460000 0 0 0 0 0 493608 0 0 11773846 15192546 0 2007 false true true true 46000000 0 0 0 0 0 669598 0 0 45330402 0 0 2010 false false false true 15890000 0 0 0 0 0 355800 0 50000 10838221 4645979 0 2008 false true true true false false false false false false 0 true false false false false false false 0 true false false false false false 0 true true true true WELLS FARGO NA 23. false false false 0 false false false true true WELLS FARGO NA 24. false false false 0 false false false true true WELLS FARGO NA 26. false false false 0 false false Advance Refunding 0 See schedule O for detail. JAMES S MCCOY EMPLOYEE RELOCATION X 60000 60000 false true true MARSHA HAMM EMPLOYEE RELOCATION X 56000 56000 false false true 116000 VARIOUS VARIOUS 8505 TUITION REMISS. ACORN PROPERTY MANAGEMENT D. BECKERMAN, FORMER BOD 1115228 LEASE OF BUILDING false CHARLES E POMPEA FORMER CHAIR OF THE BOARD 74174 LEASE OF BUILDING false X 5 129788 FMV false true true Part II, Column B THE AMOUNT IN COLUMN B INDICATES THE NUMBER OF INDIVIDUAL CONTRIBUTORS. Gift Acceptance Policy Schedule M Part I, Line 31 THE UNIVERSITY OF NEW HAVEN HAS A WRITTEN GIFT ACCEPTANCE POLICY. GIFTS SHALL BE ACCEPTED BY THE UNIVERSITY ONLY AFTER FAVORABLE EVALUATION, INCLUDING COMPLIANCE WITH THE ORGANIZATIONS TAX STATUS, BY UNIVERSITY PERSONNEL, IN CONSULTATION WITH OUTSIDE ADVISORS AND IF NECESSARY, APPROVAL BY THE UNIVERSITY'S BOARD OF GOVERNORS. INVESTMENT BROKER SCHEDULE M, PART I, LINE 32A THE UNIVERSITY USES THE SERVICES OF A THIRD PARTY (UBS FINANCIAL SERVICES), TO PROCESS DONOR CONTRIBUTIONS OF SECURITIES. STOCK GIFTS WILL BE VALUED BASED ON THE DATE OF TRANSFER TO THE UNIVERSITY. THE DONOR RECIEVES CREDIT FOR THE HIGH AND LOW MARKET VALUE ON THE DAY OF THE TRANSFER. FORM 990 REVIEW PROCESS PART VI, SECTION B, LINE 11B A COMPLETED COPY OF THE FORM 990 WAS MADE AVAILABLE TO ALL BOARD MEMBERS VIA A SECURE WEB LINK FOR REVIEW, COMMENT AND QUESTIONS PRIOR TO SUBMISSION TO THE INTERNAL REVEUNE SERVICE. CONFLICT OF INTEREST POLICY PART VI SECTION B, LINE 12C THE UNIVERSITY OF NEW HAVEN'S BOARD OF GOVERNORS CONFLICT OF INTEREST POLICY COMPLIES WITH THE GOOD GOVERNANCE PRINCIPLES AS ESTABLISHED BY THE INTERNAL REVENUE SERVICE. IN ADDITION, THE CONFLICT OF INTEREST POLICY WAS CREATED TO COMPLY WITH THE CONNECTICUT REVISED NON-STOCK CORPORATION ACT. THE POLICY IDENTIFIES WHAT CONSTITUTES A CONFLICT OF INTEREST FOR A BOARD MEMBER AND WHAT IS REQUIRED OF A BOARD MEMBER IF A CONFLICT WERE TO ARISE. THE UNDERLYING PRINCIPLES OF THE POLICY ARE AIMED AT INSURING A FULL AND TIMELY DISCLOSURE MADE BY A BOARD MEMBER REGARDING ANY CONFLICT OF INTEREST THAT MAY EXIST. BOARD MEMBERS WITH CONFLICTS ARE NOT TO BE INVOLVED IN ANY BOARD DELIBERATIONS OR VOTE ON THE MATTER. IN ADDITION, IF THE TRANSACTION IS TO BE APPROVED AT THE UNIVERSITY STAFF LEVEL, THEN, THE BOARD MEMBER SHALL HAVE NO INVOLVEMENT IN THE STAFF DECISION MAKING PROCESS. THE PROCEDURES REGARDING THE IMPLEMENTATION OF THE CONFLICTS POLICY CONTAINS THREE STEPS; SUBMISSION OF THE ANNUAL CONFIRMATION FORM, REPORTING OF SUBSEQUENT CONFLICTS OF INTEREST AND THE SECRETARY'S ROLE IN REPORTING CONFLICTS TO THE ETHICS SUBCOMMITTEE OF THE BOARD'S EXECUTIVE COMMITTEE. THE SCOPE OF THIS POLICY COVERS CURRENT BOARD MEMBERS, EMERITUS BOARD MEMBERS, SIGNIFICANT DONORS, UNIVERSITY OFFICERS, PROFESSORS AND OTHER EMPLOYEES OF THE UNIVERSITY. THE POLICY IS REVIEWED AND MONITORED WITH THE SUBMISSION OF THE ANNUAL CONFIRMATION FORM BEING SUBMITTED TO EXECUTIVE ASSISTANT TO THE PRESIDENT. AN ADDITIONAL CONFIRMATION IS SECURED WITH A REVIEW OF THE ANNUAL CONFIRMATION FORMS BY THE UNIVERSITY ADMINISTRATION. COMPENSATION POLICY PART VI, SECTION B, LINES 15A & 15B THERE ARE TWO SEQUENTIAL STEPS TAKEN EACH FISCAL YEAR AT THE UNIVERSITY OF NEW HAVEN WITH REGARD TO THE DECISIONS MADE BY THE BOARD OF GOVERNORS IN CONNECTION WITH THE COMPENSATION AWARDED TO THE TOP MANAGEMENT OFFICIALS AT THE UNIVERSITY, VIZ., ITS SENIOR OFFICERS CONSISTING OF: (I) THE PRESIDENT; (II) THE PROVOST; AND (III) THE VICE PRESIDENTS. THE FIRST STEP INVOLVES A SPECIAL COMMITTEE OF THE BOARD OF GOVERNORS. THE COMPENSATION COMMITTEE (THE "COMMITTEE"), WHICH IS COMPRISED OF FOUR MEMBERS: (I) THE BOARD CHAIR AND VICE CHAIR; AND (II) TWO OTHER BOARD MEMBERS. THE MEMBERS OF THE COMMITTEE ARE SELECTED BY THE BOARD CHAIR; AND THE COMMITTEE HAS BEEN AUTHORIZED BY THE BOARD TO ACT IN ITS SPECIAL CAPACITY. THE MEMBERS OF THE COMMITTEE ARE INDEPENDENT PERSONS WITH NO CONFLICTS OF INTEREST, AND WHO THUS ARE ABLE TO CONDUCT THE COMPENSATION REVIEW AT "ARMS' LENGTH." WITH REGARD TO THE UNIVERSITY'S 7/1/11-6/30/12 FISCAL YEAR, THE COMMITTEE CONDUCTED AN IN-DEPTH REVIEW, AND DISCUSSION, OF FOUR RELEVANT MATTERS. FIRST, IT REVIEWED THE VARIOUS ELEMENTS OF COMPENSATION FOR EACH SENIOR OFFICER, INCLUDING BASE SALARY, BONUS INCENTIVES, STANDARD ERISA-QUALIFIED HEALTH AND RETIREMENT PLANS, TAXABLE ALLOWANCES, AND OTHER BENEFITS. SECOND, THE COMMITTEE REVIEWED APPROPRIATE COMPARABILITY DATA BASED ON THE GEOGRAPHIC LOCATION, ACADEMIC PROGRAMS OFFERED AND THE FINANCIAL RESOURCES OF OTHER UNIVERSITIES. THIRD, THE REASONABLENESS OF THIS DATA WAS SUBSTANTIATED WITH BENCHMARKING EACH SENIOR OFFICER'S POSITION WITH MARKET NORMS. FOURTH, AND FINALLY, THE LEVELS OF RESPONSIBILITY AND OVERALL QUALIFICATIONS OF EACH OF THE SENIOR OFFICERS RELATIVE TO MARKET COMPARABLE POSITIONS, AND ALSO EACH SENIOR OFFICER'S JOB PERFORMANCE, WERE ALSO REVIEWED. (AS IS PRUDENT, THE COMMITTEE'S DELIBERATIONS AND DECISIONS WERE DOCUMENTED BY CONCURRENTLY-PREPARED MINUTES BY A COMMITTEE MEMBER WHO IS A PRACTICING CONNECTICUT ATTORNEY.) THE FINAL STEP IN THE COMPENSATION APPROVAL PROCESS COMMENCED WITH THE COMMITTEE'S PRESENTATION OF ITS ANNUAL REPORT AT A MEETING OF THE BOARD OF GOVERNORS WITH REGARD TO: (I) THE DATA THAT THE COMMITTEE REVIEWED; AND (II) ITS COMPENSATION RECOMMENDATIONS TO THE BOARD. (IN THIS CONTEXT, ALL MEMBERS OF THE BOARD ARE INDEPENDENT PERSONS WITH NO CONFLICTS OF INTEREST, AND WHO THUS ARE ABLE TO CONDUCT THE COMPENSATION REVIEW AT "ARMS' LENGTH.") THE BOARD THEN DISCUSSED THIS DATA FROM THE COMMITTEE AND THE COMMITTEE'S RECOMMENDATIONS. THEREUPON, A RESOLUTION WAS ADOPTED BY A MAJORITY OF THE BOARD IN ITS APPROVAL OF THE PARTICULAR COMPENSATION AMOUNTS TO BE AWARDED TO EACH OF THE SENIOR OFFICERS. (AS IS PRUDENT, THE COMMITTEE'S DELIBERATIONS AND DECISIONS WERE DOCUMENTED BY CONCURRENTLY-PREPARED MINUTES BY A BOARD MEMBER WHO IS A PRACTICING CONNECTICUT ATTORNEY.) COMPENSATION FOR KEY EMPLOYEES IS CALCULATED IN A SIMILAR FASHION AS PROVIDED ABOVE BUT DOES NOT REQUIRE COMMITTEE OR BOARD REVIEW OR APPROVAL. PUBLIC DISCLOSURE POLICY PART VI SECTION C, LINE 19 THE UNIVERSITY ALLOWS ACCESS TO IMPORTANT DOCUMENTS OF PUBLIC INTEREST THROUGH THE UNIVERSITY'S WEB SITE. THE UNIVERSITY'S TAX RETURN, FORM 990 AND AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE FOR PUBLIC INSPECTION. RECONCILIATION OF NET ASSETS PART XI, LINE 5 OTHER CHANGES IN NET ASSETS =========================== INTEREST REATE SWAP (10,682,041) UNREALIZED GAIN/LOSS ON INVESTMENT (1,036,525) NET ASSETS OF HENRY C. LEE INSTITUTE 45,428 ------------ TOTAL OTHER CHANGES (11,673,138) ADVANCE REFUNDING SCHEDULE K OF THE PROCEEDS FROM THE SERIES E BONDS ISSUED ON AUGUST 17, 2005, $15,192,546 WAS AN ADVANCE REFUNDING OF THE SERIES D BONDS. OF THE PROCEEDS FROM SERIES G BONDS ISSUED ON AUGUST 29, 2006, $4,645,979 WAS AN ADVANCE REFUNDING OF THE SERIES F BONDS. HENRY C LEE INST OF FORENSIC SCIENCE 300 BOSTON POST ROAD WEST HAVEN CT 06516 061629144 EDUCATION CT 501(c)(3) 11A NA true UNIVERSITY OF NEW HAVEN DENTAL CENTER 300 BOSTON POST ROAD NEW HAVEN CT 06516 061629143 INACTIVE CORP CT 501(c)(3) 11A NA true CHARITABLE REMAINDER TRUST (2) CHARITABLE TRUST CT NA TRUST false false false false false false false false false false false false true false false true false true HENRY C LEE INSTITUTE M 447000 FMV HENRY C LEE INSTITUTE R 90221 FMV