2012-03-01T13:00:31-06:00 2011-06-30 CROWE HORWATH LLP 70 West Madison Street Suite 700 Chicago IL 606024903 990 2010-07-01 362181973 ROSALIND FRANKLIN UNIVERSITY OF MEDICINE AND SCIENCE ROSA 8475783000 3333 Green Bay Road North Chicago IL 600643095 ROBERTA LANE 2012-01-27 true 3128997000 2010 2016-02-24 21:20:13Z DR K MICHAEL WELCH 3333 GREEN BAY ROAD North Chicago IL 600643095 115592757 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. 20 17 1079 17 5420 0 13852495 18870689 64633403 70007723 1606792 1265319 322879 793485 80415569 90937216 3935604 4763090 0 0 48029224 50039631 77594 0 617602 27935467 29807230 79977889 84609951 437680 6327265 185144402 197089508 105072181 105787763 80072221 91301745 X ROSALIND FRANKLIN UNIVERSITY OF MEDICINE AND SCIENCE (RFUMS) IS A PRIVATE RESEARCH UNIVERSITY WITH APPROXIMATELY 1,900 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 47782528 4763090 63667985 INSTRUCTION - THE PRIMARY PURPOSE OF THE UNIVERSITY IS TO EDUCATE AND TRAIN MEDICAL AND OTHER HEALTHCARE PROFESSION STUDENTS. IN 2010, RFUMS TRAINED APPROXIMATELY 1900 STUDENTS IN THREE OF ITS FOUR COLLEGES. THE CHICAGO MEDICAL SCHOOL HAD 756 ENROLLED AND ACTIVE STUDENTS. THE COLLEGE OF HEALTH PROFESSIONS HAD 757 STUDENTS ENROLLED IN TWELVE PROGRAMS. THE SCHOLL COLLEGE OF PODIATRIC MEDICINE HAD 387 STUDENTS AND THE SCHOOL OF GRADUATE AND POST-DOCTORATE STUDIES HAD 37 STUDENTS. IN THE 4TH QUARTER OF THE FISCAL YEAR, RFUMS LAUNCHED A FOURTH COLLEGE- THE COLLEGE OF PHARMACY. THE FIRST CLASS OF STUDENTS BEGAN IN THE FALL OF 2011. 12303140 0 0 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. 3694928 0 4046138 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. 6340759 0 3253380 OTHER PROGRAM SERVICES 6340759 0 3253380 70121355 true true false true false false false false true true true false false 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 2536 0 true 1079 true true true false false false false false false false false false X 20 17 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 RUTH ROTHSTEIN 1 X X 0 0 0 MICHAEL HRILJAC 1 X 0 0 0 THOMAS G MOORE PHARMD 1 X 0 0 0 ARTHUR ROSS 40 X 351161 0 39084 FRANK H MYNARD 1 X 0 0 0 DR K MICHAEL WELCH 40 X X 621328 0 200056 MICHAEL C FOLTZ JD CPA CFP 1 X 0 0 0 DAVID LEACH 1 X 0 0 0 TIMOTHY HANSEN 40 X 204021 0 36684 CHERYL KRAFF-COOPER 1 X 0 0 0 PAMELA SCHOLL 1 X 0 0 0 WENDY RHEAULT 40 X 287478 0 32103 ANNE-MARIE ST GERMAINE 1 X 0 0 0 WILFRED J LUCAS 1 X 0 0 0 BURTON GARFINKEL 1 X 0 0 0 VELMA BUTLER 1 X 0 0 0 GLORIA MEREDITH 40 X 218901 0 42266 ROBERT BRIDGES 40 X 258166 0 41492 MATTHEW HARRIS 1 X 0 0 0 ARTHUR SCHNEIDER 40 X 257384 0 40373 ROBERTA LANE 40 X 225430 0 37538 TERENCE B ALBRIGHT 40 X 252969 0 39192 BALA CHANDRAN 40 X 263082 0 39547 MARGOT A SURRIDGE 30 X 303945 0 33220 GAIL WARDEN 1 X 0 0 0 ROSALIND FRANKLIN JEKOWSKY 1 X 0 0 0 MICHAEL P SARRAS 40 X 263540 0 45973 JOAN CUMMINGS 1 X 0 0 0 KATHLEEN STONE 1 X 0 0 0 PAULA BANKS-JONES 1 X 0 0 0 CATHY LAZARUS 40 X 251473 0 48055 MARINA WOLF 40 X 241959 0 47756 NANCY PARSLEY 40 X 153356 0 20405 RONALD KAPLAN 40 X 228029 0 50859 4382222 0 794603 95 false true false G3 CONSTRUCTION GROUP 7575 PLAZA COURT WILLOWBROOK IL 60527 CONSTRUCTION 3967064 HARVARD MAINTENANCE 570 SEVENTH AVE NEW YORK NY 10018 JANITORIAL SERVICES 819919 BARNES & THORNBURG LLP 1 N WACKER DRIVE STE 4400 CHICAGO IL 60606 LEGAL 574527 BALANCED ENVIRONMENTS 17950 WEST ROUTE 173 OLD MILL CREEK IL 60083 LANDSCAPING SERVICES 326987 DATATEL INC 4375 FAIR LAKES COURT FAIRFAX VA 22033 EPS MAINTENANCE 299279 10 12258380 6612309 18870689 TUITION & FEES 63667985 63667985 STUDENT HOUSING REVENUE 2282641 2282641 PATIENT CARE 4046138 4046138 BOOKSTORE RENTAL INCOME 10959 10959 0 0 0 0 70007723 657262 166295 5420 485547 0 0 0 0 0 24902024 361574 24323368 332873 578656 28701 608057 608057 0 0 0 TRANSCRIPT, PLACEMENT & REGISTRATION FEES 32042 32042 SCHOLL SPECIAL PROGRAM INCOME 32904 32904 OTHER INCOME 728539 728539 0 0 0 0 793485 90937216 70967503 5420 1093604 0 4763090 4763090 0 0 3537538 2266021 1271517 186174 126197 59977 36716608 31820547 4532330 363731 2880929 2498801 353488 28640 3991117 3428286 510320 52511 2727265 2329239 373187 24839 0 741784 741784 146372 146372 24000 24000 0 56553 56553 4442413 3951935 434481 55997 235528 58014 177444 70 6708132 5767871 881713 58548 1164991 1164991 0 3457182 3301668 155514 782271 651684 110459 20128 0 170133 154129 12727 3277 1939080 1615399 323681 0 5910469 4901360 1009109 710261 33936 676325 EQUIPMENT AND MAINTENANCE 1156402 547579 603181 5642 LIBRARY PERIODICALS 935555 935555 BOND FEES 672707 558347 114360 MEMBERSHIP DUES 310642 276596 30266 3780 242755 135101 107215 439 84609951 70121355 13870994 617602 0 7289782 11587990 3802599 470260 294207 415185 2361422 2734897 0 0 13482993 12007142 0 1388448 1376729 171799864 70212027 100390376 101587837 31288172 40722042 15785523 17075298 0 0 1072392 1045334 7988488 8066794 185144402 197089508 7949683 9190497 4612274 4820529 51670000 50345000 40840224 41431737 105072181 105787763 X 69610633 80454339 4981071 5200189 5480517 5647217 80072221 91301745 185144402 197089508 X 6327265 4902259 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 false false false false false false true 24000 false false 24000 false 0 50876294 6733262 3492589 437461 2397084 0 58267600 52025055 796371 1579437 143790 3380779 0 50876294 75676972 478737 -22446013 618184 1086457 0 52005055 0.89730 0.09690 0.00580 false false 16286288 16286288 121638550 46435016 75203534 0 31275025 23517010 7758015 2600001 260001 2340000 101587837 0 0 HEDGE FUNDS 11090701 F PRIVATE EQUITY 3339653 F INTERNATIONAL EQUITY 2644944 F 17075298 0 DEFERRED COMPENSATION 1116473 FEDERAL EQUITY IN STUDENT LOAN PROGRAM 13813438 DERIVATIVE INSTRUMENT 6359709 POSTRETIREMENT HEALTHCARE BENEFITS 20142117 41431737 90937216 84609951 6327265 3903109 -709769 3193340 9520605 95812526 3903109 972201 4875310 90937216 0 0 90937216 89705655 5095704 5095704 84609951 0 0 84609951 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. 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, 2011, 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 3670 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 PROGRAM SERVICES CONFERENCES AND MEETINGS ABROAD 25546 NORTH AMERICA (CANADA & MEXICO ONLY) 0 0 PROGRAM SERVICES CONFERENCES AND MEETINGS ABROAD 3237 SOUTH ASIA 0 0 PROGRAM SERVICES CONFERENCE ABROAD 1284 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES SYMPOSIUM AND MEETINGS ABROAD 3858 SOUTH AMERICA 0 0 PROGRAM SERVICES GUEST SPEAKER AT MEETING ABROAD 1039 CENTRAL AMERICA AND THE CARIBBEAN PASSIVE INVESTMENTS 11090701 0 0 11129335 true false false false false false true TUITION WAIVERS 802 3413734 0 N/A N/A PRIVATE SCHOLARSHIPS 98 714747 0 N/A N/A DEPT. OF DEFENSE SCHOLARSHIPS 14 587174 0 N/A N/A LAKE COUNTY SCHOLARSHIPS 4 35983 0 N/A N/A FEDERAL SCHOLARSHIPS 1 11452 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 ARTHUR ROSS 351161 0 0 0 0 0 24500 0 14584 0 390245 0 0 0 DR K MICHAEL WELCH 579328 0 0 0 42000 0 174500 0 25556 0 821384 0 0 0 TIMOTHY HANSEN 204021 0 0 0 0 0 20811 0 15873 0 240705 0 0 0 WENDY RHEAULT 287478 0 0 0 0 0 24500 0 7603 0 319581 0 0 0 GLORIA MEREDITH 218901 0 0 0 0 0 22731 0 19535 0 261167 0 0 0 ROBERT BRIDGES 255767 0 2399 0 0 0 24500 0 16992 0 299658 0 0 0 ARTHUR SCHNEIDER 254965 0 2419 0 0 0 24500 0 15873 0 297757 0 0 0 ROBERTA LANE 225430 0 0 0 0 0 22846 0 14692 0 262968 0 0 0 TERENCE B ALBRIGHT 252969 0 0 0 0 0 24500 0 14692 0 292161 0 0 0 BALA CHANDRAN 260649 0 2433 0 0 0 24500 0 15047 0 302629 0 0 0 MARGOT A SURRIDGE 303945 0 0 0 0 0 24500 0 8720 0 337165 0 0 0 MICHAEL P SARRAS 263540 0 0 0 0 0 24500 0 21473 0 309513 0 0 0 CATHY LAZARUS 248867 0 2606 0 0 0 24500 0 23555 0 299528 0 0 0 MARINA WOLF 240095 0 1864 0 0 0 24500 0 23256 0 289715 0 0 0 NANCY PARSLEY 151713 0 1643 0 0 0 15338 0 5067 0 173761 0 0 0 RONALD KAPLAN 225779 0 2250 0 0 0 23762 0 27097 0 278888 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 DR. K. MICHAEL WELCH - $150,000.00 ILLINOIS HEALTH FACILITIES AUTHORITY 861091967 S86461950 2003-02-03 57500000 EDU FACILITIES AND RENOVATIONS false false false 0 0 57500000 0 0 30028438 2360677 0 0 25110885 0 0 2006 false false true true false false false false 0.0000 0.0000 0.0000 true true true false 0.0 false 0.0 false false JONATHAN ROTHSTEIN SON OF BOARD OF DIRECTORS CHAIR 57236 PROVIDED CONSULTING SERVICES TO RFUMS false SCOTT SURRIDGE SON OF VP AND COO 59977 EMPLOYEE OF THE UNIVERSITY false JUNE MAYOR WIFE OF BOARD OF DIRECTORS TRUSTEE 68961 EMPLOYEE OF THE UNIVERSITY false Description of other program services Form 990, Part III, Line 4d 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 AN ANNUAL 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 AN ANNUAL 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 20, 2011. Public Disclosure 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 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 changes in net assets or fund balances Form 990, Part XI, Line 5 NET UNREALIZED GAINS (LOSSES) ON INVESTMENTS - 3903109; LEGAL SETTLEMENT - 2524321; POST RETIREMENT BENEFIT EXPENSE - -1525171; ROSALIND FRANKLIN UNIVERSITY HEALTH SYSTEM 3333 GREEN BAY ROAD NORTH CHICAGO IL 60064 770691998 HEALTH CARE IL 501(C)(3) 11 - Type I NA false false false true false false false false false false false false true true false false true false ROSALIND FRANKLIN UNIVERSITY HEALTH SYSTEM D 6950321 ACUTAL COST ROSALIND FRANKLIN UNIVERSITY HEALTH SYSTEM Q 1500000 ACTUAL COST