2011-05-16T13:02:31-05:00 2010-06-30 RSM McGladrey Inc 7200 Glen Forest Dr Ste 200 Richmond VA 23226 990 2009-07-01 540505965 University of Richmond UNIV 8044841523 201 Maryland Hall Richmond VA 23173 Hossein Sadid 8044841523 2011-05-16 1 Traci R Kube 8042822121 2009 2016-02-24 21:20:13Z Edward L Ayers 201 Maryland Hall Richmond VA 23173 484307856 0 X www.richmond.edu X 1840 VA TO OPERATE A UNIVERSITY FOR ACADEMIC,SCIENTIFIC,& PROFESSIONAL EDUCATION & LEARNING.SEE SCHEDULE O, PAGE 10 20 13 4519 1822 4350842 2398893 13715768 17065883 147706212 158383231 46721071 60152602 6095018 8430023 214238069 244031739 52401931 62482729 0 115169023 120881298 24873 206825 8152818 70150967 71720170 237746794 255291022 -23508725 -11259283 1910737132 2022200441 235687521 263626937 1675049611 1758573504 The mission of the University of Richmond is to sustain a collaborative learning and research community that supports the personal development of its members and the creation of new knowledge. A Richmond education prepares students to live lives of purpose, thoughtful inquiry, and responsible leadership in a global and pluralistic society. 0 0 125689661 62482729 141454655 INSTRUCTIONThe University of Richmond endeavors to offer its students the highest quality education possible, making available top-of-the-line resources and facilities. By maintaining an 8:1 faculty to student ratio, each student has the opportunity to enjoy a personal and unique learning experience. The key characteristics of the University's instructional foundation are a challenging learning environment, small classes, a high quality of student life, a coordinate college system, a commitment to service, opportunities for moral and spiritual development, a mixture of enriching academic and co-curricular experiences, a sense of community, and a spirit of innovation.There are approximately 3,590 full time students. 35945688 ACADEMIC SUPPORT The respective Dean's Offices of each of the Five Schools oversee the maintenance and development of the school to ensure that they maintain the high level of academic integrity that has become the standard of the University of Richmond. The University offers opportunities for continuing education in each professor's specialty, plus in new teaching methods and technology, while faculty committees work toward continuous improvement in all areas of student instruction. Academic computing provides information technology to enhance the academic resources available to professors and students, and to the community through the university library. Lecture funds are set aside to pay for visiting speakers on topics relevant to academic studies offered. The Office of International Education facilitates study abroad by American students and study at Richmond by students from other countries. 32923706 16928576 AUXILIARY ENTERPRISESThe Housing Office strives to maintain a comfortable living environment for the 92% of the student body that resides on campus each year. Dining Services augments these efforts by ensuring students have access to exemplary service, outstanding quality food, with a passion and commitment to excellence as well as sustainability and community support. The Bookstore ensures that members of the University community and beyond have an affordable, convenient option for University of Richmond textbooks, gear, and supplies. Printing Services offers top-quality graphic communications for students, faculty and staff. The Post Office is a contract station for the United States Postal Service (USPS) whose goal is to provide service that is courteous, economical, and efficient. The Columbarium offers cremation, inurnment or scattering of ashes for alumni, students, faculty, staff, trustees and their immediate family members. The Athletic Department is committed and obligated to the principles of institutional control in operating its athletics program in a manner consistent with the letter and the spirit of the NCAA, Atlantic-10 Conference (A-10) and University rules and regulations. 7454929 RESEARCHThe university believes that academic research at the faculty, staff and student levels significantly improves the quality of education of all students. Thus, the university encourages faculty, student and staff research by operating an office of foundation, corporate and government relations to assist with applications for funding; allocating funds for student and faculty summer and vacation research projects, and travel to participate and present findings at academic conferences; providing labs, studios and specialized classrooms for conducting research; providing infrastructure necessary to conduct research; employing non-faculty personnel to manage research-related facilities and conduct experiments.There are approximately 250 students and 170 faculty members involved in research projects. 18564206 STUDENT SERVICESStudent Development provides on-campus physical and mental health services; academic and career counseling; various fraternity, sorority and other extracurricular activities; and organizations that work to uphold the University's core principles of diversity and inclusion. A subset of Student Development is Recreation and Wellness, which provides the campus community with outstanding recreational facilities, fitness and wellness programs, intramurals, and sport clubs. It also supports multiple student government associations, which voice the students' concerns and opinions, as well as serves as a liaison between students and administration, faculty, and staff. Undergraduate and law school admission offices counsel thousands of prospective applicants and make them welcome at the University, while providing support for accepted students. The University Libraries serve the campus community and the public and are a designated federal documents repository. 3056456 PUBLIC SERVICEThe Bonner Center for Civic Engagement (CCE) at the University of Richmond strives to bring together campus and community members in collaborative study, reflection, and action to address contemporary social issues. Beyond organizing various service-oriented events eliciting participation from faculty, staff, and students, the CCE also administrates the Bonner Scholars Program (BSP). The program offers four-year scholarship awards to students with a sustained record of service and a high level of financial need. A diverse group of approximately 100 students currently participates in the BSP at the University of Richmond, making it the largest BSP in the country. The University's Office of the Chaplaincy supports and coordinates UR Campus Ministers and religious organizations, inter-religious community and justice programming, a weekly University Worship Service, and spiritual and pastoral care. The number of people served was 12,700. 29075591 223634646 1 1 0 0 0 1 1 0 1 1 0 1 1 0 1 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 1 0 1 1 1 1 1 0 0 1 1 1 0 0 1 6809 0 4519 1 1 1 1 BD GK JE LU UK VI 0 0 0 1 1 0 0 0 0 0 20 13 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 1 1 X Laurie F Melville 8044841523 201 Maryland Hall Richmond VA 23173 Allen B King 2.00 X 0 0 0 Charles A Ledsinger Jr 2.00 X 0 0 0 Daniel J Ludeman 2.00 X 0 0 0 Edward L Ayers 40.00 X X 481304 0 237974 Fred T Tattersall 2.00 X 0 0 0 George W Wellde Jr 7.00 X X 0 0 0 Guy A Ross 2.00 X 0 0 0 Janice R Moore 2.00 X 0 0 0 Kevin M Cox 2.00 X 0 0 0 The Honorable Roger L Gregory 2.00 X 0 0 0 Michael E Szymanczyk 2.00 X 0 0 0 Patricia L Rowland 2.00 X 0 0 0 Patricia Lebow 2.00 X 0 0 0 R Lewis Boggs 7.00 X X 0 0 0 Richard S Johnson 2.00 X 0 0 0 Stephen J Kneeley 2.00 X 0 0 0 Stephen M Lessing 2.00 X 0 0 0 Susan M Humphreville 2.00 X 0 0 0 Terry Heilman Sylvester 2.00 X 0 0 0 Melanie Healey 2.00 X 0 0 0 Ann Lloyd Breeden 40.00 X 168263 0 30353 Stephen Allred 40.00 X 311889 0 51278 Hossein Sadid 40.00 X 153703 0 13005 Andrew Newcomb 40.00 X 238327 0 42486 John Douglass 40.00 X 298599 0 47690 Jorge Haddock 40.00 X 0 0 0 Kathryn Monday 40.00 X 195002 0 34350 Lori Schuyler 40.00 X 159424 0 27108 Srinivas Pulavarti 40.00 X 684315 0 142453 Stephen Bisese 40.00 X 189508 0 37477 Anne Tessier 40.00 X 185820 0 33890 Christopher Mooney 40.00 X 417672 0 41247 Joan Bak 40.00 X 0 0 0 Michael London 40.00 X 476367 0 42800 Patrick Fishe 40.00 X 276976 0 43787 Robin Blandford 40.00 X 349421 0 40883 Thomas Gutenberger 40.00 X 381920 0 47897 Herbert C Peterson 40.00 X 165338 0 46271 Carolyn Martin 40.00 X 159631 0 32208 William E Cooper 40.00 X 250655 0 61274 Carl Tobias 40.00 X 0 0 0 Joseph Kent 40.00 X 0 0 0 5544134 0 1054431 181 1 1 0 RVA Construction LLC 515 Hull Street Richmond VA 23224 construction contractor 2385192 worley associates architects 908 N Thompson Street Richmond VA 23230 architectural services 865378 Spurrier Media Group 140 Virginia Street Richmond VA 23219 branding/Radio Production 436656 DOUble jay creative 406 W Church ave knoxville TN 37902 video/photography media 395828 Council on International Educational Exc 300 Fore Street Portland ME 04101 study abroad education fees 352250 21 3174584 13891299 953832 17065883 Tuitions and fees 611600 141454655 141454655 Aux enterprises 900099 16417233 15458845 958388 Summer Camps/Conferenc 900099 511343 511343 158383231 4167615 1279994 2887621 3011999 3011999 3011999 3011999 288932071 232947084 55984987 55984987 55984987 43496 32924 10572 10572 19900797 7296109 12604688 12604688 Anthem refund 900099 1721913 1721913 Investment Management 525990 1244593 1244593 Other misc. income 713940 870803 514279 356524 -11034545 -11034545 -7197236 244031739 160719835 4350842 61895179 59143408 59143408 3339321 3339321 3689223 3062769 470265 156189 715377 593795 91568 30014 95226943 79111605 11942672 4172666 7536521 6273684 904350 358487 6709385 5549088 930293 230004 7003849 5830268 840431 333150 272303 272303 311431 100 311331 206825 206825 1009690 861003 30033 118654 1171236 1150993 6382 13861 8947360 8828318 114633 4409 5147833 4290502 557302 300029 5155641 4223179 932462 16047482 12325746 3721736 Other 9335087 9068444 -372780 639423 supplies 8906052 7847010 848011 211031 Contractual services 8063917 6823816 608331 631770 Telephone 2410381 2102473 190668 117240 equipment rental 2179381 1300560 795926 82895 2762376 1908564 307641 546171 255291022 223634646 23503558 8152818 141076442 113710625 30930434 20813719 29325697 3476706 4229574 3832785 1785520 2065920 7744196 7115341 531691504 258930811 239132574 272760693 569527163 19615498 880308925 1572060357 6676607 6748797 1910737132 2022200441 14839033 33398830 10493260 12223386 176600000 176600000 33755228 41404721 235687521 263626937 X 830788058 858979501 554285636 593281706 289975917 306312297 1675049611 1758573504 1910737132 2022200441 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 1 104.00 1 0 1 X X X X 0 1393253972 105146714 138996408 5468352 1631928742 1707377490 1382356 -251435539 64070335 1393253972 0.50000 0.18000 0.32000 1 1 1 19427717 19427717 333652588 133144601 200507987 25655399 14991245 10664154 78138726 68769629 9369097 74817074 42025336 32791738 272760693 Investments - other 176414017 F investments - hedge funds 1021240007 F Investments - preferred stock 21514 F Investments - private equity funds & real estate 374384819 F 1572060357 Funds held on behalf of others 190397 Annuities Payable 6021329 Interest Rate Swap Liabilities 20092938 Govt Grants Refundable 3901544 Post-retirement benefits 11198513 41404721 244031739 255291022 -11259283 96036650 -1253474 94783176 83523893 288297239 96036650 4668945 100705595 187591644 56440095 56440095 244031739 204773346 11965053 11965053 192808293 62482729 62482729 255291022 Part II, Line 9: Description of How Organization Reports Conservation Easements: On December 28, 1967, the University of Richmond received a deed of Gift of Land (104.34 acres) in Goochland County, VA. This land came with an easement with the Virginia Outdoor Foundation. The land is used by the biology department for field trips so that the students can learn about plants and animals in their natural habitat. The easement does not generate any revenues or expenses. Text of footnote related to conservation easement: Property, plant and equipment consisting of land, improvements, buildings, equipment and library books are stated at cost, if acquired by purchase, or estimated fair value at the date of donation, if contributed by a donor, net of accumulated depreciation. Part III, Line 1a: The University's collections of works of art & historical treasures are held for education, research, scientific inquiry, and public exhibition. Their values are not reflected in the University's financial statements. Part III, Line 4: Library Works of Art *Scholarly research *Preservation for future generations The library owns several thousand rare books. These are used for teaching, study, and research. They are preserved so future generations will be able to use them. The library owns three portraits of figures associated with the University's history. It also owns two facsimile sheets of medieval music. The portraits and sheets are on display. University Museums *Public exhibition *Scholarly research *Preservation for future generations *Loan or exchange program *Other In addition to other types of objects, the collections of University of Richmond Museums include fine art, artifacts, and decorative arts, dating from as early as ancient cultures in Greece and China to contemporary works of art. The collections span artists of local, national, and international origin. Using the collections, the University Museums provides the opportunity for the appreciation, knowledge, research, and scholarship of art, cultural history, and science through exhibitions (on-campus and traveling) and scholarly publications, as well as academic and public educational programs including special courses, lectures, gallery talks, artists' residencies, workshops, concerts, symposia, and other events. The University Museums' education and research activities complement and support the educational mission of the University of Richmond by being integrated with the University's academic and curricular programs and utilizing student, faculty, and staff involvement. Internships, research fellowships, and work/study positions for students enhance the museums' offerings. Part V, Line 4: Description of Intended Use of Endowment Funds: The University's endowment consists of approximately 1,200 individual funds established for a variety of purposes such as scholarships and contributions to educational and general expenses. The spending policy allows endowment funds to meet current operating needs of the University by providing year-to-year budget stability and protecting the future purchasing power of the endowment assets against the impact of inflation. Schedule D, Part V, line 1b includes contributions of $2,147,324; operating cash transferred to the quasi-endowment of $100,000,000; reinvested endowment income of $2,999,390. Schedule D, Part V, line 1e includes assets appropriated for expenditure of $46,883,584; elimination of intercompany payable of $41,415,232. Part XII, Line 2d - Other Adjustments: Faculty/staff Tuition Waivers: 4668945. Part XII, Line 4b - Other Adjustments: COGS - Auxiliary Enterprises: -7296109. Investment Management fees - flow through Spider Management Co. K-1: 1244593. scholarships netted with revenues on the financial statements: 62482729. Broadcast Partners additional income flow through K-1: 8882. Part XIII, Line 2d - Other Adjustments: COGS - Auxiliary Enterprises: 7296109. Faculty/staff Tuition Waivers: 4668945. Rounding: -1. Part XIII, Line 4b - Other Adjustments: scholarships netted with revenues on the financial statements: 62482729. Part X: Footnote to the organization's financial statements that reports the organization's liability for uncertain tax position under FIN 48: Tax positions are recognized or derecognized based on a "more-likely than-not" threshold. Recognized income tax positions are measured at the largest amount that is greater than 50% likely of being realized. Changes in recognition or measurement are reflected in the period in which a change in judgment occurs. This applies to positions taken or expected to be taken on a tax return. The University recognizes interest accrued related to unrecognized tax benefits and penalties related to unrecognized tax benefits in accounts payable and accrued liabilities, if assessed. No interest expense or penalties have been recognized as of and for the years ended June 30, 2010 and 2009. For all open tax years, the University has analyzed filing positions in all of the federal, state and foreign jurisdictions where it is required to file income tax returns, including the University's status as a tax exempt organization. The University believes its income tax filing positions will be sustained on audit and does not anticipate any adjustments that will result in a material change to the financial position. As of June 30, 2010, the tax years that remain subject to examination by the major tax jurisdictions under the statute of limitations is from the year 2007 forward. 1 1 1 a policy of non-discrimination is contained in all university catalogs and general search publications, which are sent to high schools in states where students are recruited, and in enrollment applications. on-line catalogs also contain the policy. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 FEDERAL FUNDS ARE USED TO FINANCE STUDENT AID PROGRAMS. A COMPLETE LIST OF AGENCIES AND AMOUNTS IS ON FILE AT THE UNIVERSITY. 1 0 East Asia and the Pacific Program Services Education 320061 Europe Program Services Education 798227 North America Program Services Education 22207 South America Program Services Education Sub- Saharan Africa Program Services Education Central America & Caribbean Program Services Education Middle East & North Africa Program Services Education Russia & Independent States Program Services Education South Asia Program Services Education 0 0 1140495 Financial Aid Grants and Scholarships Central America & Caribbean 5 8372 see Part IV Financial Aid Grants and Scholarships East Asia & the Pacific 59 697789 see Part IV Financial Aid Grants and Scholarships Europe 229 1973070 see Part IV Financial Aid Grants and Scholarships Middle East & North Africa 9 107219 see Part IV Financial Grants and Scholarships North America 2 46886 see Part IV Financial Aid Grants and Schlarships Russia & Independent States 2 19250 see Part IV Financial Aid Grants and Scholarships South America 23 212968 see Part IV Financial Aid Grants and Scholarships South Asia see Part IV Financial Aid and Scholarships Sub-Saharan Africa 19 273767 see Part IV Schedule F, Part IV Other Information Part I, line 2: Each student has an account with the University. That account is charged for full tuition while the student is studying abroad. University financial aid in the form of grants and scholarships is credited to eligible students' accounts. Thus, elegible students that are studying abroad at institutions with which the University of Richmond has an agreement receive financial aid grants and scholarships which are credited to their student accounts. These grants and scholarships reduce the amount that the student has to pay to the University of Richmond for tuition. Schedule F, Part IV Other Information Part I, line 3: The Office of International Education at the University of Richmond has a budget that is used to pay foreign institutions of higher education and other entities for the provision of educational instructions to our students who study at these foreign institutions. The University has written agreements with the foreign institutions of higher education as well as invoices and student records for determining what is paid to these institutions who provide teaching and instruction to our students. Schedule F, Part IV Other Information Part III, Column C: Students who study abroad must make application to the Office of International Education. Once the application is approved and the student confirms that she/he is going to study abroad, the student is given a special code for the term that she/he will be studying abroad in order to identify who is studying abroad each semester. Thus, the number of students who study abroad can be obtained from the University's Enterprise Resource Planning System by querying the system. Additional records are kept in the Office of International Education. Schedule F, Part IV Other Information Part III, Column E: The payment of grants and scholarships is made to the student's record by a journal entry. The student's account is credited for the grant or scholarship, which reduces the balance the student owes for tuition. The University's financial budget for grants or scholarships is charged in order to know the amount of grant or scholarship expense. X X X X X X X 1 Washburn & McGoldrick Campaign Consulting 0 0 193442 0 Pentera Inc Campaign Consulting 0 0 13383 0 206825 AL AR CA CT DE FL GA HI ID IL IN IA KS KY LA ME MD MI MN MS MO MT NE NV NJ NM NY NC ND OH OK PA RI SC SD TN TX UT VT VA WV WI WY Boone Golf Outing 15480 15480 8468 516 1413 Womens Golf Tournament 28016 28016 1583 7055 13889 43496 43496 1583 15523 516 15302 32924 10572 1 Scholarships 2450 59143408 Other Information: Part IV: The payment of the grants and scholarships are made to the student's record by a journal entry. The student's account is credited for the grant or scholarship which reduces the balance the student owes for tuition. The university's financial budget for grants or scholarships are charged in order to know the amount of grants or scholarship expense. X X X 0 1 X X X X 0 1 0 0 0 0 1 1 0 Edward L Ayers 458540 0 0 0 22764 0 50000 0 187974 0 719278 0 0 0 Ann Lloyd Breeden 168263 0 0 0 0 0 0 0 30353 0 198616 0 0 0 Stephen Allred 312454 0 0 0 -565 0 0 0 51278 0 363167 0 0 0 Hossein Sadid 143750 0 0 0 9953 0 0 0 13005 0 166708 0 0 0 Andrew Newcomb 245437 0 0 0 -7110 0 0 0 42486 0 280813 0 0 0 John Douglass 292417 0 0 0 6182 0 0 0 47690 0 346289 0 0 0 Kathryn Monday 196422 0 0 0 -1420 0 0 0 34350 0 229352 0 0 0 Lori Schuyler 165490 0 0 0 -6066 0 0 0 27108 0 186532 0 0 0 Srinivas Pulavarti 450384 0 226000 0 7931 0 75000 0 67453 0 826768 0 0 0 Stephen Bisese 196310 0 0 0 -6802 0 0 0 37477 0 226985 0 0 0 Anne Tessier 187505 0 0 0 -1685 0 0 0 33890 0 219710 0 0 0 Christopher Mooney 402818 0 0 0 14854 0 0 0 41247 0 458919 0 0 0 Michael London 282500 0 125000 0 68867 0 0 0 42800 0 519167 0 0 0 Patrick Fishe 210333 0 0 0 66643 0 0 0 43787 0 320763 0 0 0 Robin Blandford 235233 0 117000 0 -2812 0 0 0 40883 0 390304 0 0 0 Thomas Gutenberger 277005 0 0 0 104915 0 0 0 47897 0 429817 0 0 0 Herbert C Peterson 145356 0 0 0 19982 0 0 0 46271 0 211609 0 0 0 Carolyn Martin 163197 0 0 0 -3566 0 0 0 32208 0 191839 0 0 0 William E Cooper 254705 0 0 0 -4050 0 0 0 61274 0 311929 0 0 0 Part I, Line 1a The football and men's basketball coaches occasionally travel with their teams by charter airplane for scheduled competitions. The University of Richmond requires the President to live on campus in a house that is provided by the University of Richmond. Club membership dues are paid on behalf of three University employees, where club membership is an important factor in the performance of the employee's job duties and responsibilities. Part I, Line 1b The University has a policy regarding payment of expenses. All expenses must be accounted for with documentation, such as invoices and receipts, and be approved by a supervisor. The University does not have a written policy that details when a sports team is allowed to charter an airplane or when an employee club membership is paid or reimbursed by the University. Part I, Line 4a Edward Ayers had $50,000 deferred in a 457 F plan. Part I, Line 6 Srinivas Pulavarti and Robin Blandford are members of a limited liability company through which they receive distributions of net income based on their membership percentage. For calendar year 2009 Srinivas Pulavarti received $434,299 equity distribution and Robin Blandford received $337,789 equity distribution. Part I, Line 7 Football coach, Michael London, received a bonus in the amount of $125,000 for leading the football team to victory in the FSC Championship game. Virginia College building Authority 541249154 927781Nd2 2009-02-26 45085000 Construct Stadium and 2 Educational Buildings 0 0 Virginia College building Authority 541249154 9277803u8 2004-08-08 15069000 refund prior issue 0 0 Virginia College building Authority 541249154 9277803u8 2004-08-08 30931000 construct science building and forum 0 0 Virginia College building Authority 541249154 927781cr3 2006-11-08 38070000 refund prior issue 0 0 Virginia College building Authority 541249154 927781cr3 2006-11-08 17830000 construct dorm & boller plant 0 0 45659587 11059302 265225 34149097 2011 0 0 1 1 15069000 68837 1996 1 0 1 1 31128038 141299 30894900 2006 0 0 1 1 38070000 170000 1997 1 0 1 1 18447484 81262 18366634 2009 0 0 1 1 0 0 0 1 1 1 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 1 1 0.03740 0.03740 1 0 0 0 1 1 0.00590 0.00590 1 0 1 0 0 0 1 0 1 0 0 0 1 0 1 0 0 0 1 0 1 0 0 0 1 0 1 0 0 0 1 Virginia College building Authority 541249154 927781ne0 2009-02-26 29615000 refund prior issue 0 0 29615000 175935 2006 1 0 1 1 0 0 0 1 1 0.00390 0.00390 1 0 1 0 0 0 1 Kathryn Monday Housing X 120000 75590 0 0 1 75590 Nathaniel B Ayers family member of Edward L. Ayers, officer & trustee 36420 Compensation and benefits paid as employee of the University 0 Property Investment Advisors Inc entity more than 35% owned by R. Lewis Boggs,trustee 1059952 Investment Management Services to the University and a related organization of the University 0 Wilton Companies entity for which Richard S. Johnson, trustee, serves as an officer 145171 Lease of office space by the University 0 Bruce Heilman family member of Terry Heilman Sylvester, trustee 80648 Compensation in the form of housing and related services paid to Bruce Heilman as Chancellor of the University 0 Philip Morris USA Michael E. Szymanczyk,trustee,serves as officer of the parent corp of PMUSA 3011998 Related organization of the University leases office space to Philip Morris USA 0 1607 Capital Partners entity more than 35% owned by Fred T. Tattersall, trustee 325926 Investment Management Services to a related organization of the university. 0 Welsh Carson Anderson & Stowe Entity for which Paul B. Queally, former trustee, serves as an officer 319426 Investment Management Services to the University and to a related organization of the University 0 Marianne Peterson Family member of Herbert Peterson, officer 21775 Compensation and benefits paid as employee of the University 0 Lindsey J Lowe family member of Richard S. Johnson, trustee 2312 Compensation paid as student employee of the organization. 0 Fortress Investment Group LLC entity for which George W. Wellde, Jr.,trustee,serves as an indep. director 128696 Investment management services to the University. 0 X 3 X 31 953832 Market quotation 0 1 0 Form 990, Part VI, Section A, line 4 The University revised its bylaws in February 2010. In making the revisions, the University considered applicable Virginia law and best practices for non-profit organizations, in general, and for peer institutions. The revisions included the following: introducing an explicit, but not exhaustive list of the powers and duties of the Board of Trustees; setting a minimum number of Trustees; clarifying the term of service for trustees and defining "good cause" for removing a trustee; clarifying the roles and responsibilities of board committees; clarifying the process for appointing and removing officers; and specifying the duties of the Vice President for Business and Finance/Treasurer. Form 990, Part VI, Section B, line 11 Form 990, Part VI, Section 11A: The 990 was reviewed by the University of Richmond's Vice President for Business and Finance and by its General Counsel. Following that review, a draft of the 990 was provided to the University's President, Rector, Vice Rector, Chair of its Business Management Committee and Chair of its Audit and Compliance Committee. A meeting was conducted to review the 990 and respond to any questions that the President, Rector, Vice Rector or Committee Chairs had regarding the return. Following that meeting, an electronic version of the 990 was distributed to the entire Board of Trustees. The staff of the Vice President for Business and Finance and the General Counsel conducted two information sessions to review the 990 with the members of the Board of Trustees and to respond to any questions. All of this occurred prior to filing the 990 with the Internal Revenue Service. Form 990, Part VI, Section B, line 12c The University of Richmond monitors and enforces compliance with its conflict of interest policy in several ways. First, the University requires all individuals covered by its policy to complete a conflict of interest disclosure form on an annual basis. The office of the secretary to the Board of Trustees ensures that all covered individuals complete the disclosure form. Prior to all meetings of the Board of Trustees or any committee of the Board of Trustees, the secretary to the Board and the general counsel of the University review the meeting agenda in light of the conflict of interest disclosures to identify any potential or actual conflicts of interest that might arise. Additionally, the University's conflict of interest policy requires covered individuals to update their disclosure forms during the year and to notify appropriate University officials of any actual or potential conflict that might arise prior to or in the course of a meeting. If there is a conflict of interest, the involved individual is required to recuse him or herself from the discussion of the matter at issue, to refrain from voting on the matter and to refrain from seeking to influence the vote on the matter. Form 990, Part VI, Section B, line 15 The Board of Trustees of the University of Richmond has delegated authority for recommending the approval of the compensation of the President to the Compensation Committee of the Board of Trustees. The Compensation Committee is also responsible for reviewing and approving the President's recommendations regarding the compensation of his direct reports. The members of the Compensation Committee are the Rector and Vice Rector of the University and, for the tax year ending June 30, 2010, two other members of the Board of Trustees. The University ensures that the members of the Compensation Committee do not have a conflict of interest with regard to any matter coming before them. In setting the initial compensation and benefits of the President and in considering any material amendment to his employment agreement, the Compensation Committee has engaged an outside compensation consultant who, relying on compensation data for similarly qualified persons in functionally comparable positions at similarly situated organizations, has opined on the reasonableness of the President's compensation. The Compensation Committee also approves the compensation for all of the President's direct reports and any other University employee who is paid more than $150,000 per year. In conducting this review, the Compensation Committee relies on compensation data for similarly qualified persons in functionally comparable positions at similarly situated organizations. The deliberations and decisions of the Compensation Committee are documented contemporaneously. Form 990, Part VI, Section C, line 19 The University of Richmond makes its governing documents and financial statements available on its public website. The University makes its Conflict of Interest Policy available upon request. Form 990, Part I, line 1 Mission Statement - continuation The mission of the University of Richmond is to sustain a collaborative learning and research community that supports the personal development of its members and the creation of new knowledge. A Richmond education prepares students to live lives of purpose, thoughtful inquiry, and responsible leadership in a global and pluralistic society. The Richmond Promise, the university's strategic plan, establishes how Richmond will pursue its mission for the next five years. The larger purpose is to operate as a model institution of higher education, sustaining a superb faculty and staff and administering the institution with the highest standards of innovation and professionalism. The strategic plan aims to fulfill the mission established by the Board of Trustees: to "sustain a collaborative learning and research community that supports the personal development of its members and the creation of new knowledge. A Richmond education prepares students to live lives of purpose, thoughtful inquiry, and responsible leadership in a global and pluralistic society." Specifically, the plan pledges that the university will dedicate itself to five major goals: (1) Integrated Academics: The university is redesigning the curriculum to make accessible the full range of curricular offerings across the schools, including a guarantee that all undergraduate students may take at least one upper-division course in two schools outside the school of their major. The university has revised its undergraduate first-year experience, general education framework, and upper-division curricular opportunities consistent with an integrated academic enterprise. A faculty development initiative offers increased support for interdisciplinary teaching and scholarship, making Richmond the destination of choice for the highest quality faculty. (2) Inclusive Diversity: The university seeks to ensure an inclusive campus environment that welcomes people from diverse backgrounds, encourages the exchange of ideas from various perspectives, promotes open social and academic interaction, promises full access to facilities and programs, and educates against intolerance and exclusion. The university will recruit, retain, and graduate substantially more students from underrepresented minorities to strengthen the learning environment and expand Richmond's reach. The university also will recruit and retain faculty, staff, and senior managers from underrepresented minorities to attain the critical mass needed for a diverse community. The university will be strengthened intellectually and socially by the range of knowledge, opinion, belief, political perspective, and background of its members, whether of race, ethnicity, gender, sexual orientation, ability status, age, religious, economic, or geographic origin. Students will therefore be better prepared to contribute to a diverse and global society. To that end, the university has adopted a Non-Discrimination Statement: "Every university staff member, faculty member and student has the right to work and study in an environment free from discrimination and harassment and should be treated with dignity and respect. The university prohibits discrimination and harassment against applicants, students, faculty or staff on the basis of race, religion, national or ethnic origin, age, sex, sexual orientation, disability, status as a veteran or any classification protected by local, state or federal law." (3) Accessibility and Affordability: The university will be accessible and affordable for students who can most benefit from, and contribute to, the educational environment. Richmond will invest in making the university more affordable for low-income and modest-income students and in making its pricing policies and costs to families transparent and understandable, so as to increase the number of students from families in those categories. The university does not consider ability to pay in making admission decisions; rather it admits students based on qualifications. It continues to pledge that it will meet 100 percent of the demonstrated financial need of any admitted American student. It also has limited any student's need-based loan burden to no more than $4,000 a year, while offering a full tuition, room and board scholarship to any admitted Virginia student whose family income is $40,000 a year or less. The university provides some $60 million a year in financial aid to more than 60 percent of its students. (4) Community Engagement: The university will be intentionally engaged with the city of Richmond and the wider region. Community engagement will be both a method to inspire students within a civic-minded campus culture and a means to share the intellectual capital and skills of faculty, staff, students, and alumni with the larger community. In turn, the University will be enhanced by greater connections to the city and region. The university has a long and proud history of community engagement, much of it at the grass-roots level, that has transformed students and the community at large. Yet significant opportunities exist for the university to increase that impact by being more focused, more strategic, and more coordinated in its community engagement efforts. Its goal is to increase integration, intentionality, and impact. The Richmond Promise sets three goals to improve the university's civic engagement efforts: expanding the organizational culture of community engagement, focusing resources on limited numbers of community needs, and centralizing leadership and support for community engagement. An example of this engagement is the establishment of UR Downtown, a satellite campus providing a venue for interaction and service learning between university and community. (5) Distinctive Experience: The university is known for its commitment to a personal, well-rounded student experience. Its optimal size and residential nature provide the foundation for further linking academic endeavors with other student activities. The strategic plan outlines three goals to enhance the overall student experience. The first is to further integrate academics with co-curricular programs. The second is to strengthen the university's sense of community by promoting student pride and school spirit. The third is to prepare students to become successful and active alumni with lifelong connections to the university. 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