2013-01-24T13:00:04-06:00 2012-06-30 CROWE HORWATH LLP 70 West Madison Street Suite 700 Chicago IL 606024903 990 2011-07-01 362181973 ROSALIND FRANKLIN UNIVERSITY OF MEDICINE AND SCIENCE ROSA 8475783000 3333 Green Bay Road North Chicago IL 600643095 ROBERTA LANE 2013-01-17 true john woodhull P01305268 3128997000 2011 2016-02-25 16:41:14Z DR K MICHAEL WELCH 3333 GREEN BAY ROAD North Chicago IL 600643095 132308382 false X WWW.ROSALINDFRANKLIN.EDU X 1911 IL THE MISSION OF ROSALIND FRANKLIN UNIVERSITY IS TO SERVE THE NATION THROUGH THE EDUCATION OF HEALTH PROFESSIONALS AND THE DISCOVERY OF KNOWLEDGE DEDICATED TO IMPROVING THE HEALTH OF ITS PEOPLE. 22 19 1008 19 48154 0 18870689 16790493 70007723 80136005 1265319 2061002 793485 1411943 90937216 100399443 4763090 4573430 0 0 50039631 56816771 0 38400 808643 29807230 31242153 84609951 92670754 6327265 7728689 197089508 206662420 105787763 114969842 91301745 91692578 X 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 (CONTINUED ON SCHEDULE O) false false 56200609 4573430 69409991 INSTRUCTION - THE PRIMARY PURPOSE OF THE UNIVERSITY IS TO EDUCATE AND TRAIN MEDICAL AND OTHER HEALTHCARE PROFESSION STUDENTS. IN 2011, RFUMS TRAINED APPROXIMATELY 2000 STUDENTS IN THREE OF ITS FOUR COLLEGES. THE CHICAGO MEDICAL SCHOOL HAD 753 ENROLLED AND ACTIVE STUDENTS. THE COLLEGE OF HEALTH PROFESSIONS HAD 780 STUDENTS ENROLLED IN TWELVE PROGRAMS. THE SCHOLL COLLEGE OF PODIATRIC MEDICINE HAD 382 STUDENTS AND THE SCHOOL OF GRADUATE AND POST-DOCTORATE STUDIES HAD 41 STUDENTS. IN FALL 2011 THE INAUGURAL COLLEGE OF PHARMACY CLASS BEGAN WITH 70 STUDENTS. 12397189 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. 3544634 4687792 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. 5727952 7172454 PROGRAM SERVICE REVENUE FROM INTEREST ON STUDENT LOANS AND PENALTIES, STUDENT HOUSING REVENUE AND OTHER PROGRAM SERVICES. 5727952 7172454 77870384 true true false true false false false false true true true false false true true false true true false true false false true 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 2073 0 true 1008 true true true false false false false false false false false true 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 X X 0 0 0 FRANK H MYNARD 1.00 X X 0 0 0 GAIL WARDEN 1.00 X X 0 0 0 K MICHAEL WELCH 40.00 X X 1621449 0 49215 RUTH ROTHSTEIN 1.00 X X 0 0 0 BURTON GARFINKEL 1.00 X 0 0 0 CHERYL KRAFF-COOPER 1.00 X 0 0 0 DEBORAH B TAYLOR 1.00 X 0 0 0 ELIZABETH COULSON 1.00 X 0 0 0 JOHN BECKER 40.00 X 108396 0 21294 KATHLEEN STONE 1.00 X 0 0 0 LISA ZENNI 1.00 X 0 0 0 MATTHEW HARRIS 1.00 X 0 0 0 MICHAEL C FOLTZ 1.00 X 0 0 0 MICHAEL HRILJAC 1.00 X 0 0 0 MONICA OBLINGER 40.00 X 122242 0 40385 PAMELA SCHOLL 1.00 X 0 0 0 PAULA BANKS-JONES 1.00 X 0 0 0 ROSALIND FRANKLIN JEKOWSKY 1.00 X 0 0 0 THOMAS G MOORE 1.00 X 0 0 0 VELMA BUTLER 1.00 X 0 0 0 WILFRED J LUCAS 1.00 X 0 0 0 MARGOT A SURRIDGE 30.00 X 322187 0 34178 ROBERTA LANE 40.00 X 245876 0 41567 GLORIA MEREDITH 40.00 X 221481 0 44293 JOSEPH X DIMARIO 40.00 X 166044 0 43379 NANCY PARSLEY 40.00 X 206599 0 21625 RONALD KAPLAN 40.00 X 259845 0 53691 RUSSELL G ROBERTSON 40.00 X 399006 0 38109 TIMOTHY HANSEN 40.00 X 220261 0 40673 TINA ERICKSON 40.00 X 174360 0 18800 WENDY RHEAULT 40.00 X 292624 0 33292 ARTHUR SCHNEIDER 40.00 X 260340 0 34963 BALA CHANDRAN 40.00 X 266479 0 25765 JOHN TOMKOWIAK 40.00 X 228229 0 47683 MARINA WOLF 40.00 X 244729 0 51116 ROBERT BRIDGES 40.00 X 260236 0 44563 5620383 0 684591 91 false true false G3 CONSTRUCTION GROUP 7575 PLAZA COURT WILLOWBROOK IL 60527 CONSTRUCTION 1519343 HARVARD MAINTENANCE 570 SEVENTH AVE NEW YORK NY 10018 JANITORIAL SERVICES 831877 DATATEL INC 4375 FAIR LAKES COURT FAIRFAX VA 22033 EPS MAINTENANCE 312380 BALANCED ENVIRONMENTS 17950 WEST ROUTE 173 OLD MILL CREEK IL 60083 LANDSCAPING SERVICES 268269 CROWE HORWATH LLP 70 WEST MADISON STREET CHICAGO IL 60602 AUDIT SERVICES 260568 9 12479880 4310613 16790493 TUITION & FEES 611310 69409991 69409991 PATIENT CARE 621400 4687792 4687792 MEDICAL RESIDENT PMTS 611310 3617110 3617110 STUDENT HOUSING REVENUE 611310 2397996 2397996 CONTINUING EDUCATION 611310 15025 15025 8091 8091 0 0 80136005 1031436 165906 48154 817376 0 0 0 0 0 32913171 25334 31852080 56859 1061091 -31525 1029566 1029566 0 0 0 TRANSCRIPT AND REGISTRATION FEES 900099 71340 71340 COMPOUND TESTING - LAB 621500 443617 443617 OTHER 900099 896986 896986 0 0 0 0 1411943 100399443 81713854 48154 1846942 X 0 4573430 4573430 0 0 4933021 2203549 2729472 132337 70194 62143 41122832 37635316 3068659 418857 2999900 2597672 369042 33186 4736010 4065636 600861 69513 2892671 2447731 415522 29418 0 385396 385396 281758 281758 19500 19500 38400 38400 61054 61054 5093746 4708292 301997 83457 377868 49121 327112 1635 7031487 6314369 655281 61837 1970523 1970523 0 3370552 3223177 143503 3872 975690 827886 127334 20470 0 184848 163210 17198 4440 1884165 1515777 368388 0 6140299 5169157 971142 774399 110062 664337 EQUIPMENT AND MAINTENANCE 606489 281371 307862 17256 LIBRARY PERIODICALS 990399 990399 BOND FEES 611765 515009 96756 MEMBERSHIP DUES 310263 274621 29726 5916 171952 134405 17161 20386 92670754 77870384 13991727 808643 0 11587990 18806512 470260 1085961 415185 471996 2734897 2682844 12007142 11522034 1376729 1388776 175176137 75238576 101587837 99937561 40722042 46458179 17075298 14221014 0 0 1045334 973679 8066794 9113864 197089508 206662420 9190497 10583737 4820529 4761581 50345000 50345000 1200000 41431737 48079524 105787763 114969842 X 80454339 79214469 5200189 6823947 5647217 5654162 91301745 91692578 197089508 206662420 X 7728689 -7337856 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 19500 false false 19500 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. 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 0.90310 0.09150 0.00540 false false 16286288 16286288 121849337 48994436 72854901 0 34440512 25854140 8586372 2600000 390000 2210000 99937561 0 0 HEDGE FUNDS 11268676 F PRIVATE EQUITY 2952338 F 14221014 0 FEDERAL EQUITY IN STUDENT LOAN PROGRAM 12635558 DERIVATIVE INSTRUMENT 11843966 POSTRETIREMENT HEALTHCARE BENEFITS 23600000 48079524 100399444 92670756 7728688 0 0 7728688 0 0 0 0 0 0 0 0 0 0 0 0 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 (RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX) 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, 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. true true true true true true true false false false false false false false false false true MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES COLLABORATION ABROAD 3996 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES CONFERENCES AND MEETINGS ABROAD 33952 NORTH AMERICA (CANADA & MEXICO ONLY) 0 0 PROGRAM SERVICES CONFERENCES AND MEETINGS ABROAD 9902 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES CONFERENCE AND MEETINGS ABROAD 3998 CENTRAL AMERICA AND THE CARIBBEAN INVESTMENTS 11268676 0 0 11320524 true false false false false false Method used to account for expenditures on organization's financial statements Schedule F, Part I, Line 3 MIDDLE EAST AND NORTH AFRICA: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL NORTH AMERICA (CANADA & MEXICO ONLY): ACCRUAL EAST ASIA AND THE PACIFIC: ACCRUAL CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL X true HARRIS CONNECT PHONE SOLICITING false 38400 38400 38400 38400 AZ CA CO CT DE DC FL GA ID IL IA KS MD MA MI MN MT NE NV NH NJ NC ND OH PA SD TX VA WA WI WY true TUITION WAIVERS 785 3367438 0 N/A N/A PRIVATE SCHOLARSHIPS 97 661987 0 N/A N/A DEPT. OF DEFENSE SCHOLARSHIPS 13 498224 0 N/A N/A FEDERAL SCHOLARSHIPS 4 45781 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 578315 0 0 0 1043134 0 24500 0 24715 0 1670664 0 950000 0 TIMOTHY HANSEN 220261 0 0 0 0 0 22500 0 18173 0 260934 0 0 0 WENDY RHEAULT 292624 0 0 0 0 0 24500 0 8792 0 325916 0 0 0 GLORIA MEREDITH 221481 0 0 0 0 0 23000 0 21293 0 265774 0 0 0 ROBERT BRIDGES 260236 0 0 0 0 0 24500 0 20063 0 304799 0 0 0 ARTHUR SCHNEIDER 260340 0 0 0 0 0 24500 0 10463 0 295303 0 0 0 ROBERTA LANE 245876 0 0 0 0 0 23000 0 18567 0 287443 0 0 0 BALA CHANDRAN 266479 0 0 0 0 0 24500 0 1265 0 292244 0 0 0 MARGOT A SURRIDGE 322187 0 0 0 0 0 24500 0 9678 0 356365 0 0 0 MARINA WOLF 244729 0 0 0 0 0 24500 0 26616 0 295845 0 0 0 NANCY PARSLEY 206599 0 0 0 0 0 20824 0 801 0 228224 0 0 0 RONALD KAPLAN 259845 0 0 0 0 0 24500 0 29191 0 313536 0 0 0 JOSEPH X DIMARIO 166044 0 0 0 0 0 15567 0 27812 0 209423 0 0 0 RUSSELL G ROBERTSON 399006 0 0 0 0 0 24500 0 13609 0 437115 0 0 0 MONICA OBLINGER 122242 0 0 0 0 0 13194 0 27191 0 162627 0 0 0 JOHN TOMKOWIAK 228229 0 0 0 0 0 23492 0 24191 0 275912 0 0 0 TINA ERICKSON 174360 0 0 0 0 0 17500 0 1300 0 193160 0 0 0 COMPENSATION OF OFFICERS, DIRECTORS, TRUSTEES, KEY EMPLOYEES, AND HIGHEST COMPENSATED EMPLOYEES: PART I MONICA OBLINGER AND JOHN BECKER 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. 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 DR. K. MICHAEL WELCH- RECEIVED PAYMENT OF $1,000,939 FROM SUPPLEMENTAL PLAN. $950,000 OF THAT AMOUNT WAS REPORTED AS DEFERRED COMPENSATION IN PRIOR YEARS ON PRIOR FORMS 990. ILLINOIS HEALTH FACILITIES AUTHORITY 362780046 45200PVN4 2003-02-03 57500000 EDU FACILITIES AND RENOVATIONS false false false 0 0 57600299 0 0 0 735748 1624929 0 25211184 30028438 0 2006 true false true true false false false false 0.0000 0.0000 0.0000 true false true false 0.0 false 0.0 false false X SCOTT SURRIDGE SON OF EVP AND COO 62143 EMPLOYEE OF THE UNIVERSITY false JUNE MAYOR WIFE OF KEY EMPLOYEE 70194 EMPLOYEE OF THE UNIVERSITY false MISSION STATEMENT FORM 990, PART III, LINE 1 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. Description of other program services Form 990, Part III, Line 4d PROGRAM SERVICE REVENUE FROM INTEREST ON STUDENT LOANS AND PENALTIES, STUDENT HOUSING REVENUE AND OTHER PROGRAM SERVICES. 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 THE MARKET. TO ENSURE THAT COMPENSATION IS BOTH REASONABLE AND COMPETITIVE, THE BOARD RETAINS THE SERVICES OF AN OUTSIDE INDEPENDENT CONSULTING FIRM WITH EXPERTISE IN ACADEMIC HEALTHCARE WHEN ANNUAL INCREASES ARE AWARDED. 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, 2011. 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 THE MARKET. TO ENSURE THAT COMPENSATION IS BOTH REASONABLE AND COMPETITIVE, THE BOARD RETAINS THE SERVICES OF AN OUTSIDE INDEPENDENT CONSULTING FIRM WITH EXPERTISE IN ACADEMIC HEALTHCARE WHEN ANNUAL INCREASES ARE AWARDED. 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, 2011. 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. HOURS DEVOTED TO RELATED ORGANIZATIONS FORM 990, PART VII, SECTION A, LINE 1A, COLUMN (B) MARGOT A. SURRIDGE, EXEC. VP & COO, DEVOTES APPROXIMATELY 10 HRS A WEEK TO ROSALIND FRANKLIN UNIVERSITY HEALTH SYSTEM, A RELATED TAX-EXEMPT ORGANIZATION. THE FOLLOWING TRUSTEES DEVOTES APPROXIMATELY 1 HR A WEEK TO ROSALIND FRANKLIN UNIVERSITY HEALTH SYSTEM, A RELATED TAX-EXEMPT ORGANIZATION. KATHLEEN M. STONE, JOAN CUMMINGS, WILFRED J. LUCAS, AND MICHAEL J. HRILJAC. OTHER FEES FOR SERVICES FORM 990, PART IX, LINE 11G THE AMOUNT REPORTED ON FORM 990, PART IX, LINE 11G CONSISTS PRIMARILY OF THE COST ASSOCIATED WITH THE PLACEMENT OF THE UNIVERSITY'S STUDENTS IN TRAINING PROGRAMS AT HOSPITALS IN THE SURROUNDING AREA. Other changes in net assets or fund balances Form 990, Part XI, Line 5 NET UNREALIZED GAINS (LOSSES) ON INVESTMENTS - -371270; POST RETIREMENT BENEFIT EXPENSE - -3457883; LEGAL SETTLEMENT - 1975554; UNREALIZED LOSS ON DERIVATIVE INSUTRUMENT - -5484257; ROSALIND FRANKLIN UNIVERSITY HEALTH SYSTEM 3333 GREEN BAY ROAD NORTH CHICAGO IL 60064 770691998 HEALTH CARE IL 501(C)(3) 11 - Type I RFUMS true false false false true false false false false false false false false true true false false true false ROSALIND FRANKLIN UNIVERSITY HEALTH SYSTEM D 9113864 ACTUAL COST ROSALIND FRANKLIN UNIVERSITY HEALTH SYSTEM Q 1600000 ACTUAL COST