2011-05-16T15:53:47-04:00 2010-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2009-07-01 210634584 MONMOUTH UNIVERSITY MONM 7325713407 400 CEDAR AVENUE WEST LONG BRANCH NJ 077641898 PHILIP A BODNER 2011-05-11 true KPMG LLP 2127589700 2009 2016-02-24 21:20:13Z PAUL G GAFFNEY II PRESIDENT 400 CEDAR AVENUE WEST LONG BRANCH NJ 077641898 197644585 false X MONMOUTH.EDU X 1948 NJ MONMOUTH UNIVERSITY IS AN INDEPENDENT, COMPREHENSIVE INSTITUTION OF HIGHER EDUCATION COMMITTED TO EXCELLENCE AND INTEGRITY IN TEACHING, SCHOLARSHIP, AND SERVICE. 43 40 2937 545 150304 47002 11905995 17203235 157833335 168274907 3177506 2843190 90680 205076 173007516 188526408 33084707 36421008 0 0 84837880 89062377 0 0 3601360 46373572 48494569 164296159 173977954 8711357 14548454 258018783 277713537 58917600 60286009 199101183 217427528 SEE SCHEDULE O false false 143795255 36421008 168274907 SEE SCHEDULE O 143795255 true true false true false false true false true true true false true false true false true false true false false true true true false false false false false true true true true true false false false false false false false true 8881 0 true 2937 true true true false false false false true true false false false 43 40 false false true false false false false true true false false true true true true true true true true false X PHILIP A BODNER 7325713407 400 CEDAR AVENUE WEST LONG BRANCH NJ 077641898 PAUL GAFFNEY 70.0 X X 622459 0 55352 ALFRED J SCHIAVETTI JR 1.0 X X ROBERT B SCULTHORPE 1.0 X X JOHN GARBARINO 1.0 X X DEBORAH B LARRISON 1.0 X X JEROME P AMEDEO 1.0 X RUDOLPH J BORNEO 1.0 X PETER R BRUCKMANN 1.0 X ROSA CHAVIANO-MORAN 1.0 X MARCIA SUE CLEVER 1.0 X DENNIS M COLEMAN 1.0 X WILLIAM P DIOGUARDI JR 1.0 X MARTI S EGGER 1.0 X ALFRED L FERGUSON 1.0 X MICHAEL GOOCH 1.0 X JAN GREENWOOD 1.0 X MARIANNE HESSE 1.0 X KENNETH W HITCHNER III 1.0 X HAROLD L HODES 1.0 X VIRGINIA S BAUER 1.0 X ROBERT E MCALLAN 1.0 X THOMAS J MICHELLI 1.0 X H WILLIAM MULLANEY 1.0 X TAVIT O NAJARIAN 1.0 X THOMAS A PORSKIEVIES 1.0 X STEVEN J POZYCKI 1.0 X ROBERT B RUMSBY 1.0 X M MONICA SWEENEY 1.0 X ANN UNTERBERG 1.0 X PAUL W CORLISS 1.0 X ALAN E DAVIS 1.0 X PAUL S DOHERTY JR 1.0 X W CARY EDWARDS 1.0 X JUDITH ANN EISENBERG 1.0 X THOMAS P KIELY 1.0 X STEPHEN M PARKS 1.0 X CHARLES T PARTON 1.0 X WILLIAM B ROBERTS 1.0 X DAVID A BROWN JR 1.0 X 0 0 0 FREDERICK J KAELI JR 1.0 X MICHAEL A PLODWICK 1.0 X JOHN H KESSLER 1.0 X JOHN A GRECO JR 1.0 X WILLIAM CRAIG 55.0 X 318111 0 70718 THOMAS S PEARSON 55.0 X 270882 0 33791 JEFFERY MILLS 55.0 X 247129 0 41360 PATRICIA SWANNACK 55.0 X 284380 0 33778 GREY DIMENNA 55.0 X 229325 0 18525 ROBERT D MCCAIG 55.0 X 215427 0 22602 MARILYN MCNEIL 55.0 X 190358 0 29790 MARY ANNE NAGY 55.0 X 194573 0 15794 FREDERICK KELLY 40.0 X 281531 0 34239 DATTA NAIK 40.0 X 193318 0 22453 STANTON GREEN 40.0 X 184285 0 59680 ANTHONY MACDONALD 40.0 X 181167 0 28210 DONALD MOLIVER 40.0 X 185293 0 76534 3598238 0 542826 146 false true false SEE SCHEDULE O 36 36200 345589 4759126 12062320 274335 17203235 TUITION AND FEES, GROSS 900099 137973709 137973709 AUXILIARY ENTERPRISES 721310 24261636 24261636 GOVERNMENT CONTRACTS 541700 1736460 1736460 ALL OTHER PROGRAM SERVICE REVENUE 900099 4303102 3987097 316005 168274907 2295689 2295689 0 43232 43232 9419011 2000 8873510 0 545501 2000 547501 547501 256207 345589 244667 11540 11540 0 0 CONFERENCE AND PROGRAM SERVICES 722320 77290 77290 FITNESS CENTER 713940 62890 62890 COPY CENTER 561439 10124 10124 150304 188526408 167958902 150304 3213967 126168 126168 36007643 36007643 287197 287197 0 2654384 2372138 282246 0 64683762 52487235 10347716 1848811 4002997 3249897 643825 109275 12617574 9944984 2298115 374475 5103660 3983727 962637 157296 0 406486 406486 129000 129000 121055 55 121000 0 731000 731000 8515932 6952990 1368119 194823 2004324 579887 1424437 4139626 3203821 662289 273516 1539000 332969 1180885 25146 0 10259497 8537502 1616459 105536 2125669 1878918 209290 37461 0 580938 535713 34954 10271 1017625 1002437 13890 1298 0 7494710 6848937 519427 126346 1983437 1770169 184959 28309 DUES AND MEMBERSHIPS 1131738 221500 899343 10895 LIBRARY MATERIALS 915356 915356 BOOKSTORE MATERIALS 3609372 3609372 ALL OTHER EXPENSES 1789804 1318778 455370 15656 173977954 143795255 26581339 3601360 6342502 8511512 7182358 10716738 881179 1120917 1020066 1118799 1320475 2146752 250392259 93891836 140398309 156500423 55350215 43434957 40532795 49199252 4990884 4964187 258018783 277713537 20678697 12263998 3884445 4008287 17705000 15925000 3026287 14432265 2808703 2645122 10814468 11011337 58917600 60286009 X 159043655 177751349 21031057 12644581 19026471 27031598 199101183 217427528 258018783 277713537 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 271025 271025 173706929 173977954 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 256659 252856 267767 271025 1048307 250000 250000 250000 250000 1000000 1500000 0 0 0 0 0 3000 1138464 X X X X false false 41918000 8062000 4889000 534000 1026000 0 53309000 55906000 782000 -13335000 471000 964000 0 41918000 0.36000 0.64000 false false 6245470 6245470 1107200 143232889 40347293 103992796 285988 0 285988 18375639 11558619 6817020 81145073 41985924 39159149 156500423 FUNDS 46527380 F FUNDS 2469370 F RETENTION GRP) 166195 F BENEFICIARY) 38307 F 49201252 0 FUNDS HELD FOR OTHERS 85926 STUDENT LOAN GRANTS REFUNDABLE 4052951 ASSET RETIREMENT OBLIGATION 6872460 11011337 188526408 173977954 14548454 3046891 731000 3777891 18326345 155278459 3046891 -36294840 -33247949 188526408 188526408 136952114 136952114 731000 36294840 37025840 173977954 SCHEDULE D PART III LINE 4 THE MONMOUTH UNIVERSITY PERMANENT ART COLLECTION SERVES AS A VITAL TEACHING TOOL AND IS AN INTEGRAL ASSET TO THE DEPARTMENT OF ART AND DESIGN, THE UNIVERSITY CAMPUS AS A WHOLE, AND THE VISITING GENERAL PUBLIC. COMPLIMENTING UNIVERSITY GALLERY EXHIBITIONS, LECTURES AND WORKSHOPS BY VISITING ARTISTS AND HISTORIANS, THE UNIVERSITY COLLECTION PROVIDES STUDENTS, FACULTY, AND THE GENERAL PUBLIC AT LARGE WITH ACCESS TO IMPORTANT PIECES OF ART. THE PERMANENT COLLECTION IS FREQUENTLY ON DISPLAY, SHOWCASING WORKS FROM THE COLLECTION. THE UNIVERSITY COLLECTION IS ALSO MADE AVAILABLE TEMPORARILY, PER REQUEST, TO OTHER EDUCATION INSTITUTIONS FOR EXHIBITION AND SCHOLARLY RESEARCH. FOR EXAMPLE, THE COLLECTION CONTAINS SUBSTANTIAL WORKS BY LEWIS MUMFORD AND JACOB LANDAU. WITH PROPER APPROVALS, THESE WORKS ARE MADE AVAILABLE ON LOAN TO REQUESTING INSTITUTIONS. SCHEDULE D PART V LINE 4 THE UNIVERSITY'S ENDOWMENT CONSISTS OF INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING SCHOLARSHIPS, FACULTY CHAIRS, INSTRUCTION, ACADEMIC SUPPORT, AND OPERATION AND MAINTENANCE OF PHYSICAL PLANT. SCHEDULE D PART X FIN 48 MANAGEMENT REVIEWS TRANSACTIONS TO ESTIMATE POTENTIAL TAX LIABILITIES. IT IS MANAGEMENT'S ESTIMATION THAT THERE ARE NO MATERIAL TAX LIABILITIES THAT NEED TO BE REPORTED. IN 2008, THE UNIVERSITY ADOPTED THE PROVISION OF FIN 48, ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES - AN INTERPRETATION OF FASB NO. 109 (FIN 48), WHICH CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS. FIN 48 REQUIRES AN ENTITY TO RECOGNIZE THE IMPACT OF A TAX POSITION IN ITS FINANCIAL STATEMENTS IF THAT POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED ON AN AUDIT BASED ON THE TECHNICAL MERITS OF THE POSITION. THE EFFECT OF ADOPTION OF FIN 48 DID NOT HAVE AN IMPACT ON THE FINANCIAL STATEMENTS. SCHEDULE D PART XII AND XIII LINE 2D AND 4B - OTHER TUITION DISCOUNT OF $35,818,379 ROOM AND BOARD DISCOUNT OF $476,461 true true true NEWSPAPER ANNOUNCEMENTS true true true true false false false false false false false false true false THE UNIVERSITY RECEIVED $2,164,968 DURING THE FISCAL YEAR UNDER THE "INDEPENDENT COLLEGE AND UNIVERSITY ASSISTANCE ACT" OF NEW JERSEY. NEW JERSEY REMAINS COMMITTED BY LAW AND PUBLIC POLICY TO THE DEVELOPMENT AND PRESERVATION OF A PLANNED AND DIVERSE SYSTEM OF HIGHER EDUCATION WHICH ENCOMPASSES BOTH PUBLIC AND INDEPENDENT INSTITUTIONS. INDEPENDENT INSTITUTIONS MAKE AN IMPORTANT CONTRIBUTION TO HIGHER EDUCATION IN THE STATE AND IT IS IN THE PUBLIC INTEREST TO ASSIST THESE INSTITUTIONS IN THE PROVISION AND MAINTENANCE OF QUALITY ACADEMIC PROGRAMS. true true Europe (Including Iceland and Greenland) 0 0 Grantmaking Study Abroad Students 151225 East Asia and the Pacific 0 0 Grantmaking Study Abroad Students 135972 0 0 287197 Tuition Discount Europe/Iceland/Greenland 40 151225 CREDIT ACCT Tuition Discount East Asia/Pacific 27 135972 CREDIT ACCT PART 1, LINE 2 MONMOUTH UNIVERSITY GRANTS, INCLUDING THOSE GRANTS RELATED TO STUDENTS PARTICIPATING IN OUR STUDY ABROAD PROGRAM, TAKE THE FORM OF SCHOLARSHIPS AWARDED BY OUR FINANCIAL AID OFFICE FOR TUITION, ROOM, BOARD AND BOOKS. THE SCHOLARSHIPS ARE AWARDED IN ACCORDANCE WITH THE GUIDELINES ESTABLISHED FOR EACH SCHOLARSHIP AND ARE ADMINISTERED BY THE FINANCIAL AID OFFICE. CREDITING OF SCHOLARSHIPS TO STUDENT ACCOUNTS IS ADMINISTERED BY THE BURSAR'S OFFICE. THE SCHOLARSHIPS REPORTED HERE WERE GRANTED TO MONMOUTH UNIVERSITY STUDENTS WHILE THEY WERE STUDYING ABROAD AND REPORTED IN ACCORDANCE WITH THE SCHEDULE F INSTRUCTIONS AND THE IRS'S FILING TIPS. DINNER 197895 110651 87244 5063 33183 3750 11961 DINNER 195100 140695 54405 11805 35534 0 5021 12 190706 85118 105588 3213 31686 53742 30526 583701 336464 247237 20081 100403 57492 47508 225484 21753 true LONG BRANCH CHAMBER OF COMMERCE PO BOX 628 LONG BRANCH NJ 07740 210502065 501(c)(6) 6500 GENERAL SUPPORT TWO RIVER THEATER COMPANY 21 BRIDGE AVE RED BANK NJ 07701 521857767 501(C)(3) 35500 GENERAL SUPPORT BOROUGH OF WEST LONG BRANCH 967 BROADWAY WEST LONG BRANCH NJ 07764 216001351 N/A 42228 FIRE ENG/GENERAL AMERICAN CONFERENCE ON DIVERSITY 109 CHURCH ST NEW BRUNSWICK NJ 08901 320154928 501(C)(3) 7000 GENERAL SUPPORT 48 11 AUXILIARY ENTERPISES DISCOUNT (ROOM, BOARD, BOOKS) 110 452597 TUITION DISCOUNT 5841 32132285 PART 1 LINE 2 MONMOUTH UNIVERSITY GRANTS AND OTHER ASSISTANCE TO ORGANIZATIONS ARE MODEST AND ARE APPROVED BY OUR OFFICE OF PUBLIC AFFAIRS AND MONITORED BY THE PRESIDENT'S CABINET. GRANTS AND OTHER ASSISTANCE TO INDIVIDUALS TAKE THE FORM OF SCHOLARSHIPS TO OUR STUDENTS. THE SOURCE OF FUNDING OF THESE SCHOLARSHIPS MAY BE UNIVERSITY INSTITUTIONAL FUNDS, GOVERNMENT FUNDS OR DONOR FUNDS. UNIVERSITY FUNDED SCHORLARSHIPS ARE ADMINISTERED BY THE UNIVERSITY'S ADMISSIONS OFFICE, BOTH GRADUATE AND UNDERGRADUATE, AND AWARDED USING A CALCULATION DRIVEN BY PRIOR ACADEMIC PERFORMANCE STATISTICS. GOVERNMENT FUNDED SCHOLARSHIPS ARE AWARDED BY THE UNIVERSITY'S FINANCIAL AID OFFICE WITH STRICT ADHERENCE TO GOVERNMENT REGULATIONS AND AWARD CRITERIA. DONOR FUNDED SCHOLARSHIPS, WHETHER SPONSORED OR ENDOWED, ARE AWARDED BY THE UNIVERSITY'S FINANCIAL AID OFFICE WITH STRICT ADHERENCE TO THE DONOR'S WRITTEN AWARD CRITERIA. THE UNIVERSITY'S DEVELOPMENT OFFICE WORKS WITH THE DONOR AT THE TIME OF THE GIFT TO ESTABLISH THE WRITTEN AWARD CRITERIA AND THESE CRITERIA ARE MAINTAINED FOR REFERENCE IN BOTH THE UNIVERSITY'S DEVELOPMENT AND FINANCIAL AID OFFICES. X X X X X true true X X X X X X false false false false false false false true false PAUL GAFFNEY 334091 0 275000 0 13368 0 19600 0 35752 0 677811 0 0 0 WILLIAM CRAIG 257532 0 45000 0 15579 0 19600 0 51118 0 388829 0 0 0 THOMAS S PEARSON 255875 0 12000 0 3007 0 19600 0 14191 0 304673 0 0 0 JEFFERY MILLS 245908 0 0 0 1221 0 19600 0 21760 0 288489 0 0 0 PATRICIA SWANNACK 238478 0 45000 0 902 0 19323 0 14455 0 318158 0 0 0 GREY DIMENNA 227000 0 0 0 2325 0 18248 0 277 0 247850 0 0 0 ROBERT D MCCAIG 200170 0 15000 0 257 0 16123 0 6479 0 238029 0 0 0 MARILYN MCNEIL 187686 0 0 0 2672 0 15209 0 14581 0 220148 0 0 0 MARY ANNE NAGY 193231 0 0 0 1342 0 15546 0 248 0 210367 0 0 0 FREDERICK KELLY 231960 0 27245 0 22326 0 18774 0 15465 0 315770 0 0 0 DATTA NAIK 190116 0 0 0 3202 0 15375 0 7078 0 215771 0 0 0 STANTON GREEN 181940 0 0 0 2345 0 14836 0 44844 0 243965 0 0 0 ANTHONY MACDONALD 175085 0 0 0 6082 0 14201 0 14009 0 209377 0 0 0 DONALD MOLIVER 184262 0 0 0 1031 0 15222 0 61312 0 261827 0 0 0 LINE 1A TRAVEL FOR COMPANIONS IT IS THE REQUIREMENT OF THE BOARD OF TRUSTEES THAT THE PRESIDENT'S SPOUSE, WHEN ENGAGED IN ACTIVITIES IN THE FURTHERANCE OF OR ON BEHALF OF THE UNIVERSITY, BE CONSIDERED AN UNPAID VOLUNTEER FOR THE UNIVERSITY AND SHALL BE ENTITLED TO HAVE ALL APPROPRIATE EXPENSES INCURRED DURING SUCH ACTIVITIES REIMBURSED BY THE UNIVERSITY UPON THE PRESENTATION OF PROPER DOCUMENTATION OF SUCH EXPENSES. THE REQUIREMENT OF THE BOARD OF TRUSTEES IS DOCUMENTED IN THE PRESIDENT'S EMPLOYMENT CONTRACT WITH THE UNIVERSITY. THE PRESIDENT'S SPOUSE RECEIVED A DE MINIMIS AMOUNT OF SUCH REIMBURSEMENT DURING THIS TAX YEAR. LINE 1A TAX INDEMNIFICATION AND GROSS-UP PAYMENTS THE BOARD OF TRUSTEES HAS INCLUDED IN THE PRESIDENT'S COMPENSATION PACKAGE REIMBURSEMENT FOR FINANCIAL PLANNING COSTS. THIS REIMBURSEMENT IS GROSSED UP TO COVER THE APPLICABLE TAXES AND REPORTED AS COMPENSATION ON THE PRESIDENT'S W-2 AND ON THE FORM 990. LINE 1A HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE FOR THE BENEFIT AND CONVENIENCE OF THE UNIVERSITY IN HAVING THE FUNCTIONS OF THE OFFICE OF THE PRESIDENT EFFICIENTLY DISCHARGED AND AS A CONDITION OF EMPLOYMENT, THE PRESIDENT IS REQUIRED BY THE BOARD OF TRUSTEES TO RESIDE IN A HOME LOCATED ON CAMPUS AND PROVIDED BY THE UNIVERSITY AT ITS EXPENSE. SPACE PROVIDED IN THE PRESIDENT'S RESIDENCE FOR PRIVATE USE IS REPORTED AS COMPENSATION ON THE FORM 990. LINE 1A HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES THE BOARD OF TRUSTEES REQUIRES THE UNIVERSITY TO MAINTAIN FOR THE PRESIDENT A MEMBERSHIP WITH A LOCAL GOLF CLUB SOLELY TO BE USED FOR UNIVERSITY FUNDRAISING, FRIEND RAISING AND OTHER UNIVERSITY BUSINESS. THE PRESIDENT MAY NOT USE THIS MEMBERSHIP FOR PERSONAL USE. THIS MEMBERSHIP IS INCLUDED AS COMPENSATION ON THE FORM 990. LINE 1A PERSONAL SERVICES (E.G., MAID, CHAUFFEUR, CHEF) THE PRESIDENT'S RESIDENCE MANAGER SPENDS A MAXIMUM OF ONE DAY PER WEEK ON PERSONAL MATTERS OF THE PRESIDENT FOR HIS APARTMENT WITHIN THE RESIDENCE. THE VALUE OF THIS SERVICE IS INCLUDED AS COMPENSATION ON THE PRESIDENT'S W2 AND ON THE FORM 990. LINE 7 NON-FIXED PAYMENTS SOME MEMBERS OF THE PRESIDENT'S CABINET RECEIVED BONUSES AT THE DISCRETION OF THE PRESIDENT. WILLIAM E FITZGERALD PE SEE SCHEDULE O 189953 ENGINEERING SERVICES false CJ HESSE SEE SCHEDULE O 380986 CONSTRUCTION MATERIAL false OCEANFIRST BANK SEE SCHEDULE O 19000000 REVOLVING LINE OF CREDIT false X 3 3000 EXPERT X 0 N/A X 5 14279 fmv on date of GIFT X 1 250000 EXPERT APPRAISAL X ATHLETIC EQUIPMENT 2 0 N/A X AUCTIONS/PRIZES 373 0 N/A X IT/MEDIA EQUIPMENT 9 5856 SALE OF SIMILAR ITEM X MUSICAL INSTRUMENTS 2 1200 SALE OF SIMILAR ITEM X UNIVERSITY EVENT FOOD 20 0 N/A 0 false true true PART I LINE 32 THE UNIVERSITY USES A STOCKBROKER TO SELL GIFTS OF SECURITIES. PART I LINE 33 THE UNIVERSITY ONLY RECORDS REVENUE FOR NON-CASH CONTRIBUTIONS MEETING THE FOLLOWING CRITERIA: 1) ITEMS ADDED TO OUR EQUIPMENT INVENTORY WITH A VALUE OF $1,000 OR MORE AND HAVE A USEFUL LIFE OF ONE YEAR OR MORE, AND 2) WORKS OF ART OR HISTORICAL TREASURES ADDED TO OUR COLLECTION, AND 3) SECURITIES NONE OF THE ITEMS REPORTED ON LINE 5) CLOTHING AND HOUSEHOLD GOODS, LINE 25) ATHLETIC EQUIPMENT, LINE 25) AUCTION/PRIZES, AND 25) UNIVERSITY EVENT FOOD MET THESE CRITERIA. ORGANIZATION'S MISSION FORM 990, PART I LINE 1 AND PART III LINE 1 MONMOUTH UNIVERSITY IS AN INDEPENDENT, COMPREHENSIVE INSTITUTION OF HIGHER EDUCATION COMMITTED TO EXCELLENCE AND INTEGRITY IN TEACHING, SCHOLARSHIP, AND SERVICE. THROUGH ITS OFFERINGS IN LIBERAL ARTS, SCIENCES, AND PROFESSIONAL PROGRAMS, MONMOUTH UNIVERSITY EDUCATES AND PREPARES STUDENTS TO REALIZE THEIR POTENTIAL AS LEADERS AND TO BECOME ENGAGED CITIZENS IN A DIVERSE AND INCREASINGLY INTERDEPENDENT WORLD. STATEMENT OF PROGRAM SERVICE ACCOMPLISHMENTS FORM 990, PART III LINE 4A HIGHER EDUCATION, RESEARCH AND PUBLIC SERVICE: THE EIGHT (8) SCHOOLS OF MONMOUTH UNIVERSITY (THE LEON HESS BUSINESS SCHOOL, THE SCHOOL OF EDUCATION, THE SCHOOL OF SOCIAL WORK, THE WAYNE D. MCMURRAY SCHOOL OF HUMANITIES AND SOCIAL SERVICES, THE MARGORIE K. UNTERBERG SCHOOL OF NURSING AND HEALTH STUDIES, THE SCHOOL OF SCIENCE, THE GRADUATE SCHOOL, AND THE HONORS SCHOOL) ENROLLED 4,306 FULL-TIME AND 375 PART-TIME UNDERGRADUATE STUDENTS AND 632 FULL-TIME AND 1,186 PART-TIME STUDENTS. IN SUPPORT OF OUR STUDENTS AND FACULTY, THE UNIVERSITY MAINTAINED A STRUCTURE OF DEPARTMENTS PERFORMING ACADEMIC SUPPORT, STUDENT SERVICES AND AUXILIARY ENTERPRISES. THE UNIVERSITY'S SCHOOLS AND DEPARTMENTS, AS WELL AS THE UNIVERSITY'S FIVE (5) INSTITUTES (THE INSTITUTE FOR GLOBAL UNDERSTANDING, THE KISLAK REAL ESTATE INSTITUTE, THE POLLING INSTITUTE, THE RAPID RESPONSE INSTITUTE, AND THE URBAN COAST INSTITUTE), CONDUCTED RESEARCH AND PUBLIC SERVICE PROJECTS FUNDED BY INSTITUTIONAL, GOVERNMENT AND PRIVATE RESOURCES. FOR ADDITIONAL INFORMATION, PLEASE VISIT OUR WEBSITE AT WWW.MONMOUTH.EDU/ FORM 990 PART VI, SECTION A. GOVERNING BODY AND MANAGEMENT LINE 1A THERE ARE THREE CLASSES OF TRUSTEES WHO SERVE ON THE BOARD OF TRUSTEES: REGULAR TRUSTEES, LIFE TRUSTEES AND LIFE TRUSTEE EMERITI. LIFE TRUSTEES ARE ELIGIBLE TO BE ELECTED AFTER DISTINCTIVE SERVICE ON THE BOARD FOR TWO FULL TERMS AS A REGULAR TRUSTEE. LIFE TRUSTEE EMERITI MAY VOTE AT COMMITTEE MEETING BUT NOT AT FULL BOARD MEETINGS. THERE ARE TWO MEMBERS OF THE BOARD OF TRUSTEES WHO ARE LIFE TRUSTEE EMERITI. THE BOARD OF TRUSTEES HAS AN EXECUTIVE COMMITTEE THAT IS AUTHORIZED TO ACT ON BEHALF OF THE FULL BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE IS COMPOSED OF THE FOUR OFFICERS OF THE BOARD (CHAIR, VICE CHAIR, TREASURER AND SECRETARY), THE CHAIRS OF ALL STANDING COMMITTEES, TWO-AT-LARGE MEMBERS OF THE BOARD APPOINTED BY THE CHAIR AND THE PRESIDENT OF THE UNIVERSITY. ALL MEMBERS OF THE EXECUTIVE COMMITTEE ARE MEMBERS OF THE BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE MAY TAKE ANY ACTION THAT THE FULL BOARD OF TRUSTEES IS AUTHORIZED TO TAKE WITH CERTAIN EXCEPTIONS. THE EXECUTIVE COMMITTEE MAY NOT: TAKE ANY ACTION INCONSISTENT WITH A PRIOR ACT OF THE FULL BOARD OF TRUSTEES, AWARD DEGREES (OTHER THAN HONORARY DEGREES), SELECT OR APPOINT TRUSTEES OR OFFICERS, CHANGE THE UNIVERSITY'S MISSION OR PURPOSE, SELL THE UNIVERSITY'S ASSETS, ADOPT THE ANNUAL BUDGET, ALTER BYLAWS, REMOVE OR APPOINT THE PRESIDENT OR TAKE ANY ACTION SPECIFICALLY RESERVED TO THE FULL BOARD OF TRUSTEES. THE EXECUTIVE COMMITTEE ALSO HAS AUTHORITY TO PURCHASE, MANAGE AND SELL LAND, BUILDINGS AND CAPITAL EQUIPMENT COSTING BETWEEN $250,000 AND $500,000. THE EXECUTIVE COMMITTEE MAY ALSO TAKE ANY ACTION DELEGATED TO IT BY THE FULL BOARD OF TRUSTEES. FORM 990 PART VI, SECTION A. GOVERNING BODY AND MANAGEMENT LINE 4 AT ITS OCTOBER 2009 MEETING, THE BOARD OF TRUSTEES ADOPTED SEVERAL AMENDMENTS TO ITS BYLAWS. THOSE AMENDMENTS INCLUDED ABOLISHING THE GIFT PLANNING COMMITTEE AND SHIFTING ITS RESPONSIBILITIES TO THE UNIVERSITY ADVANCEMENT COMMITTEE, CREATING A HUMAN RESOURCES AND BENEFITS COMMITTEE AND UPGRADING THE ATHLETICS SUBCOMMITTEE TO FULL COMMITTEE STATUS. FORM 990 PART VI, SECTION B. POLICIES LINE 11A THE BOARD OF TRUSTEES HAS DESIGNATED THE AUDIT COMMITTEE TO BE RESPONSIBLE FOR THE REVIEW OF THE FORM 990 PRIOR TO SUBMISSION TO THE INTERNAL REVENUE SERVICE. THIS RESPONSIBILITY IS INCLUDED IN THE AUDIT COMMITTEE'S CHARTER. A FINAL DRAFT OF THE FORM 990 IS PRESENTED TO THE AUDIT COMMITTEE AT A REGULAR MEETING FOR THEIR REVIEW AND COMMENT. MODIFICATIONS RESULTING FROM THE REVIEW, IF ANY, ARE MADE BEFORE FILING THE FORM. IN ADDITION, AN EMAIL IS SENT OUT TO EACH MEMBER OF THE BOARD INDICATING THAT THE FINAL DRAFT OF THE FORM 990 IS AVAILABLE AND WILL BE EMAILED UPON REQUEST. FORM 990 PART VI, SECTION B. POLICIES LINE 12C THE BOARD OF TRUSTEES HAS A CODE OF ETHICS, AS WELL AS A PROVISION IN ITS BYLAWS, WHICH DEALS WITH CONFLICTS OF INTEREST. ALSO, MEMBERS OF THE BOARD AND KEY EMPLOYEES COMPLETE AN ANNUAL DISCLOSURE STATEMENT SETTING FORTH THEIR BUSINESS AND OTHER INTERESTS. REVIEW OF SITUATIONS TO DETERMINE A CONFLICT ARE CARRIED OUT BY THE UNIVERSITY'S VICE PRESIDENT AND GENERAL COUNSEL AND IF NECESARY THE BOARD'S EXECUTIVE COMMITTEE. BOARD MEMBERS FOUND TO HAVE A CONFLICT ON A PARTICULAR ITEM RECUSE THEMSELVES FROM PARTICIPATING AND VOTING IN CONNECTION WITH THAT ITEM. SUCH RECUSALS ARE PLACED ON THE RECORDS. FORM 990 PART VI, SECTION B. POLICIES LINE 15A THE PROCESS FOR DETERMINING COMPENSATION FOR THE PRESIDENT OF THE UNIVERSITY AND OTHER KEY EMPLOYEES IS SET FORTH IN THE UNIVERSITY'S EXECUTIVE COMPENSATION POLICY. PURSUANT TO THAT POLICY, THE BOARD'S COMPENSATION COMMITTEE (ALL OF WHOM ARE INDEPENDENT) AND THE VICE PRESIDENT AND GENERAL COUNSEL REVIEW COMPARABLE COMPENSATION DATA PROVIDED BY AN INDEPENDENT OUTSIDE CONSULTANT AND MAKE COMPENSATION RECOMMENDATIONS TO THE FULL BOARD OF TRUSTEES AS TO THE COMPENSATION FOR THE PRESIDENT OF THE UNIVERSITY. THE FULL BOARD OF TRUSTEES THEN ACTS UPON THE COMPENSATION COMMITTEE'S RECOMMENDATION AND MAKES A DECISION ON THE PRESIDENT'S COMPENSATION. MINUTES OF BOTH THE COMPENSATION COMMITTEE AND THE BOARD OF TRUSTEES MEETING CONCERNING SUCH ACTIONS ARE REVIEWED AND APPROVED BY BOTH BODIES. THE PRESIDENT'S COMPENSATION WAS LAST SET BY THIS PROCESS IN JUNE 2010. COMPENSATION DETERMINATIONS FOR OTHER KEY EMPLOYEES ARE DETERMINED BY THE PRESIDENT OF THE UNIVERSITY AFTER REVIEW OF COMPARABLE COMPENSATION DATA PROVIDED BY AN INDEPENDENT OUTSIDE CONSULTANT. THOSE COMPENSATION DECISIONS ARE REPORTED BY THE PRESIDENT TO THE COMPENSATION COMMITTEE. FORM 990 PART VI, SECTION C. DISCLOSURE LINE 19 MONMOUTH UNIVERSITY DOES NOT CURRENTLY MAKE ITS GOVERNING DOCUMENTS AVAILABLE TO THE GENERAL PUBLIC. BOTH THE UNIVERSITY'S CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE ON THE UNIVERSITY'S WEBPAGE. 990, PART VII - COMPENSATION OF THE FIVE HIGHEST PAID IND. CONTRACTORS TORCON, INC. 328 NEWMAN SPRINGS ROAD RED BANK, NJ 07701 CONSTRUCTION MANAGEMENT $20,217,266 FITZPATRICK & ASSOCIATES 1115 PINE BROOK RD TINTON FALLS, NJ 07724 CONSTRUCTION MANAGEMENT $6,616,217 ARAMARK IDS-100 PEN SQUARE EAST PHILADELPHIA, PA 19107 FOOD SERVICE $4,102,597 PASKILL STAPLETON & LORD ONE ROBERTS AVE GLENSIDE, PA 19038 MARKETING $1,070,094 US ARMY EDGEWOOD CHEMICAL 5183 BLACKHAWK ROAD ABERDEEN PROVING GROUND, MD 21010 GRANT SUBCONTRACTOR $450,000 PART X - BALANCE SHEET RECLASSIFICATIONS TO COLUMN (A) BEGINNING OF YEAR: RECLASSIFICATIONS OF AMOUNTS HAVE BEEN MADE TO SEVERAL LINES WITHIN THE ASSETS AND LIABILITIES SECTIONS IN COLUMN (A) "BEGINNING OF YEAR" TO CORRELATE TO CLASSIFICATIONS USED FOR THESE LINES IN COLUMN (B) "END OF YEAR". BEGINING OF YEAR TOTAL ASSETS AND LIABILITIES REMAIN THE SAME AS REPORTED ON LAST YEAR'S FORM 990 FOR END OF YEAR. THESE RECLASSIFICATIONS AFFECTED LINES 7, 13, 20, 23 AND 24. SCHEDULE L, PART IV - BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS COLUMN(B) - RELATIONSHIP BETWEEN INTERESTED PERSON AND THE ORGANIZATION: 1) WILLIAM E. FITZGERALD, P.E. IS A FAMILY MEMBER OF PATRICIA SWANNACK, VICE PRESIDENT FOR ADMINIDTRATIVE SERVICES. 2) MARIANNE HESSE,TRUSTEE, HAS OWNERSHIP IN C.J. HESSE. 3) JOHN GARBARINO, TRUSTEE AND TREASURER, IS AN OFFICER AT OCEANFIRST BANK.