2013-06-18T13:01:19-05:00 2012-06-30 061009205 BLUM SHAPIRO & COMPANY PC CPA'S 29 S MAIN STREET PO BOX 272000 WEST HARTFORD CT 061272000 990 2011-07-01 061395640 RICHMOND THE AMERICAN INTERNATIONAL UNIVERSITY IN LONDON INC RICH 8605616875 C/O BLUM SHAPIRO 29 SOUTH MAIN ST WEST HARTFORD CT 06107 JOHN ANNETTE 8605616875 2013-06-18 1 ELIZABETH SOLECKI P00235171 8605614000 2011 2016-03-07 17:11:31Z JOHN ANNETTE ORCHARD HOUSE QUEENS ROAD RICHMOND SURREY UK 33060728 0 X WWW.RICHMOND.AC.UK X 1972 DE PROVISION OF HIGHER EDUCATION TO STUDENTS FROM AROUND THE WORLD. 17 15 3 0 0 0 766634 1618359 26622192 31448916 8403 5153 50724 -11700 27447953 33060728 2213406 2575631 0 0 9201522 10128600 0 0 90538 16118635 21041979 27533563 33746210 -85610 -685482 8641015 10132320 4499824 6771234 4141191 3361086 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 28780022 2575631 31448916 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). 28780022 1 1 0 0 0 0 0 0 0 1 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 17 15 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA DE X MR WILLIAM SCOTT 2083328200 QUEENS ROAD RICHMOND, SURREY UK TW10 6JP MS MARIAM ASSEFA 1.00 X 0 0 0 DR VIVIAN DAY 1.00 X 0 0 0 MR GEORGE KING 1.00 X 0 0 0 DR DEBORAH MCLEAN 3.00 X X 0 0 0 MR A MICHAEL HOFFMAN 3.00 X X 0 0 0 DR JENNIFER RUBIN 1.00 X 0 0 0 DR CLIFFORD JOSEPH 3.00 X X 0 0 0 SIR CYRIL TAYLOR 3.00 X 0 0 0 DR JOHN ANNETTE 40.00 X X 0 0 147150 MR BASAM AUDEH 1.00 X 0 0 0 MR NEIL MEADOWS 1.00 X 0 0 0 DR NICHOLAS TATE 1.00 X 0 0 0 MR DEREK POLLARD 3.00 X 0 0 0 MRS WENDY MILLER 1.00 X 0 0 0 MR SAMI SULEIMAN 1.00 X 0 0 0 MR VIJAY TIRATHRAI 1.00 X 0 0 0 MR GHAYTH ARMANAZI 1.00 X 0 0 0 DR PHILIP DEANS 40.00 X 0 0 214865 MR WILLIAM SCOTT 40.00 X 0 0 188507 MR ROBERT LEPPARD 40.00 X 0 0 182276 MR MARK KOPENSKI 40.00 X 0 0 316582 0 0 1049380 0 1 1 0 SODEXO PO BOX 245 310 BROADWAY SALFORD UK CATERING 1828339 BURT & TRAVICA 2A MINSTER ROAD BROMLEY KENT UK BUILDING & MAINTENANCE 1496846 MITIE PO BOX 764 PORTSMOUTH HAMPSHIRE UK FACILITIES MANAGEMENT 1153221 METRO 14-17 METROPOLITAN BUSINESS PARK P LANCS UK COMPUTER/IT SUPPLIES 603555 KM CLEANING SERVICES LTD CANTERBURY HOUSE MEDWAY CITY ESTAT ROCHESTER UK CLEANING 421479 8 1618359 473700 1618359 TUITION, ROOM & BOARD 611310 31448916 31448916 31448916 5153 5153 EXCHANGE LOSS 900099 -11700 -11700 -11700 33060728 31448916 0 -6547 2575631 2575631 1115541 205375 910166 7151153 6012162 1072673 66318 678431 566055 101765 10611 339434 286291 50915 2228 844041 709439 126606 7996 139827 139827 90680 90680 106970 106970 341488 341488 417574 354938 62636 1094391 930232 164159 5250628 5250628 175422 26313 145724 3385 5937 5046 891 1545625 1313781 231844 66871 56840 10031 FLORENCE & ROME STUDY C 4847669 4120519 727150 SERVICE FEE 2737986 2327288 410698 CATERING COSTS 1861581 1582344 279237 STUDENT ACTIVITY COSTS 464813 464813 1894517 1650839 243678 33746210 28780022 4875650 90538 1396590 60163 1642397 581150 1067251 18498 15893 810761 969503 22042666 15665553 5834016 6377113 8641015 10132320 1329289 1167950 358880 293401 0 1480563 2811655 3829320 4499824 6771234 X 3612216 2669212 506564 691874 22411 0 4141191 3361086 8641015 10132320 X -685482 -94623 X 0 1 1 X 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24411 -24411 21086 1325 22411 23042 -1956 21086 27850 -4808 23042 0 0 13024189 8857906 4166283 8131733 6083973 2047760 886744 723674 163070 6377113 STUDENT DEPOSITS 1095200 FEES RECEIVED IN ADVANCE 2462325 UK TAX AND SOCIAL SECURITY COSTS 271795 3829320 33060728 33746210 -685482 -94623 -94623 -780105 30485097 0 30485097 2575631 2575631 33060728 31170579 0 31170579 2575631 2575631 33746210 PART XI LINE 8: LOSS OF $94,623 RELATES TO AN EXCHANGE LOSS BY THE US DOLLAR AGAINST THE BRITISH POUND. THE UNIVERSITY HAS A BASE CURRENCY OF BRITISH POUNDS, AS THE MAJORITY OF ITS INCOME AND ITS COSTS ARE PAYABLE IN THIS CURRENCY. THE UNIVERSITY IS ALSO PHYSICALLY LOCATED IN THE UK. AS THE UNIVERSITY BALANCE SHEET HAS A BASE VALUATION IN BRITISH POUNDS, THE TRANSLATION INTO US DOLLARS WILL REFLECT ANY CHANGE IN THE EXCHANGE RATES BETWEEN THE BEGINNING AND END OF THE YEAR BEING REPORTED. PART XII LINE 4B AND PART XIII LINE 4B: THE VALUE OF $2,575,631 RELATES TO SCHOLARSHIPS AND GRANTS GIVEN TO STUDENTS. IN THE AUDITED STATEMENTS THIS VALUE IS DEDUCTED FROM TOTAL REVENUE. IN THE FORM 990, THIS IS ADDED BACK TO REVENUE IN PART VIII AND SHOWN AS AN EXPENSE IN PART IX. 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) 4 239 PROGRAM SERVICES HIGHER EDUCATION 33134619 EUROPE (INCLUDING ICELAND & GREENLAND) INVESTMENTS 1642397 4 239 0 0 4 239 34777016 0 34777016 SCHOLARSHIPS & HOUSING GRANTS EUROPE (INCLUDING ICELAND & GREENLAND) 287 2575631 REDUCTION ON INVOICE VALUE 0 0 0 0 0 0 TUITION SCHOLARSHIPS ARE ONLY ALLOCATED AGAINST A STUDENT'S ACCOUNT IF THEY MAINTAIN THE REQUIRED ATTENDANCE AND LEVEL OF ACADEMIC ACHIEVEMENT. 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 DR JOHN ANNETTE 0 0 0 0 0 0 0 0 27744 0 27744 0 0 0 DR PHILIP DEANS 0 0 0 0 0 0 0 0 1232 0 1232 0 0 0 MR WILLIAM SCOTT 0 0 0 0 0 0 0 0 1895 0 1895 0 0 0 MR ROBERT LEPPARD 0 0 0 0 0 0 0 0 1895 0 1895 0 0 0 MR MARK KOPENSKI 0 0 0 0 0 0 0 0 1658 0 1658 0 0 0 PART I, LINE 4A DURING THE YEAR, MR. MARK KOPENSKI LEFT THE UNIVERSITY. INCLUDED IN THE OTHER REPORTABLE COMPENSATION BELOW IS AN AMOUNT OF $135,507 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 BENEFITS DR. JOHN ANNETTE 98,688 20,718 27,744 DR. PHILIP DEANS 177,385 36,250 1,232 ROBERT LEPPARD 148,584 31,797 1,895 MARK KOPENSKI 142,020 172,904 1,658 WILLIAM SCOTT 153,052 33,560 1,895 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 2737986 PAYMENTS FOR THE USE OF PREMISES AND FINANCING ADMIN ARRANGEMENTS. 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 4847669 PAYMENTS FOR THE DELIVERY OF THE ITALIAN STUDY ABROAD PROGRAM. 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 199687 PAYMENTS FOR THE LEASE OF 15 YOUNG STREET PROPERTY. 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 195937 PAYMENT MADE TO REIMBURSE INSURANCE COSTS. 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 390354 RENTAL OF ADMISSIONS OFFICE PREMISES IN BOSTON. 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 3590244 PAYMENT FOR THE DELIVERY OF THE LONDON STUDY ABROAD PROGRAMS. 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 5304881 PAYMENT FOR THE DELIVERY OF THE ITALIAN STUDY ABROAD PROGRAMS. 0 X SEE PART II 1 473700 0 0 0 0 METHOD FOR DETERMINING NUMBER OF CONTRIBUTORS: PART I, COLUMN (B): THE UNIVERSITY RECEIVED A NONCASH DONATION OF $473,700 FROM THE RICHMOND FOUNDATION (A UK REGISTERED CHARITY). THIS WAS A NONCASH DONATION OF RESERVES BEING BUILT UP ON THE RICHMOND FOUNDATION BALANCE SHEET DUE TO THE GRADUAL PAYING OF A MORTGAGE ON A RESIDENTIAL PROPERTY THAT IS OWNED BY THE FOUNDATION AND LEASED TO THE UNIVERSITY FOR THE PURPOSES OF STUDENT HOUSING. THE MORTGAGE IS FIVE YEARS INTO A TWENTY YEAR TERM. THE DONATION REPRESENTS THE EQUITY ON THE PROPERTY BEING ACCUMULATED ON THE BALANCE SHEET OF THE FOUNDATION. 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 TO THE UNIVERSITY. TOTAL NUMBER OF EMPLOYEES PART I, LINE 5: THE UNIVERSITY EMPLOYED AN AVERAGE OF 239 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 AND SENT FOR INITAL REVIEW TO THE UNIVERSITY ACCOUNTANTS BLUM SHAPIRO WHO ARE BASED IN THE USA. REVISIONS ARE MADE AS NECESSARY AND THE FORM 990, TOGETHER WITH SUPPORTING SCHEDULES ARE SUPPLIED TO THE UNIVERSITY TRUSTEE'S AUDIT COMMITTEE, WITH A PAPER NOTING ANY ISSUES THAT REQUIRE PARTICULAR ATTENTION. THE AUDIT COMMITTEE REVIEWS THE FORM 990 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 COMMITTEE IS PROVIDED WITH RESEARCH AND ANALYSIS BY THE UNIVERSITY HUMAN RESOURCES DIRECTOR CONCERNING COMPARATIVE SALARIES FOR THE UNIVERSITY PRESIDENT. SALARIES OF SENIOR UNIVERSITY OFFICERS ARE SET BY THE PRESIDENT WITH RESEARCH AND ANALYSIS PROVIDED BY THE HUMAN RESOURCES DIRECTOR. 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 5: EXCHANGE LOSS BETWEEN THE US DOLLAR AND THE UK POUND STERLING. -94,623. TOTAL TO FORM 990, PART XI, LINE 5: -94,623. 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 A FAIR VALUE. THE COMMITTEE IS PRESENTED WITH AN UPDATED REPORT ANNUALLY WHICH IS REPORTED TO THE MAIN BOARD OF TRUSTEES. THE RICHMOND FOUNDATION C/O RICHMOND THE AMERICAN INTERNAT UK EDUCATIONAL SUPPORT UK FOREIGN BASED UK CHARITY N/A 0 RICHMOND COLLEGE SERVICES LIMITED QUEENS ROAD RICHMOND SURREY UK EDUCATION SUPPORT UK N/A C 0 0 1 0 0 0 0 0 0 1 0 1 1 1 0 1 0 0 THE RICHMOND FOUNDATION J 410540 LEASE AGREEMENT THE RICHMOND FOUNDATION C 789500 AGREED DONATION THE DONATION OF $789,500 FROM THE RICHMOND FOUNDATION TO THE UNIVERSITY WAS A RESULT OF FOUNDATION TRUSTEES MEETINGS. THE PRIME PURPOSE OF THE RICHMOND FOUNDATION IS TO PROVIDE SUPPORT TO RICHMOND, THE AMERICAN INTERNATIONAL UNIVERSITY IN LONDON, INC. THE PAYMENT OF $410,540 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. EIGHT TRUSTEES OF RICHMOND, THE AMERICAN INTERNATIONAL UNIVERSITY IN LONDON, INC. OUT OF A TOTAL OF SEVENTEEN ARE ALSO TRUSTEES OF THE RICHMOND FOUNDATION. THERE ARE TWO TRUSTEES OF THE RICHMOND FOUNDATION WHO ARE NOT TRUSTEES OF RICHMOND, THE AMERICAN INTERNATIONAL UNIVERSITY IN LONDON, INC. HOWEVER, THEY ARE EMPLOYEES 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 RICHMOND, THE AMERICAN INTERNATIONAL UNIVERSITY IN LONDON, INC. 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.