2023-04-18T21:00:21+00:00 2022-05-31 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2021-06-01 362170136 Illinois Institute of Technology ILLI 3125675850 3424 SOUTH STATE STREET TC-4 FL CHICAGO IL 60616 Kenneth Johnston Deputy Controller 3125675850 2023-04-18 true Kenneth Johnston 999009999 NICOLE BENCIK P00756195 3128997000 2021 2023-04-26 12:10:37Z Raj Echambadi SUITE 1900 10 W 35TH STREET CHICAGO IL 60616 676387368 false X WWW.IIT.EDU X 1940 IL TO PROVIDE DISTINCTIVE AND RELEVANT EDUCATION IN AN ENVIRONMENT OF SCIENTIFIC, TECHNOLOGICAL, AND PROFESSIONAL KNOWLEDGE CREATION AND INNOVATION. 71 70 3297 107 20932 0 76594323 72024658 278867403 285604458 40280660 13997139 822799 1152269 396565185 372778524 135498995 136066011 0 142778358 153956595 217062 153691 9590859 100149343 112090240 378643758 402266537 17921427 -29488013 730458628 746055692 263425341 278008730 467033287 468046962 X TO PROVIDE DISTINCTIVE AND RELEVANT EDUCATION IN AN ENVIRONMENT OF SCIENTIFIC, TECHNOLOGICAL, AND PROFESSIONAL KNOWLEDGE CREATION AND INNOVATION. false false 244768619 136066011 204951711 INSTRUCTION SUPPORT:- Illinois Institute of Technology's (IIT) seven colleges allow students to discover new frontiers in engineering, computing, architecture, business, law, design, and science and human sciences. The school's nationally ranked undergraduate and graduate programs offer exceptional teaching that combines hands-on learning with training in entrepreneurship, design thinking, and technology. The University's emphasis on collaboration and interdisciplinary study and research will prepare students to work across traditional boundaries and to experience a professional future where success knows no limits. Since 1995, the University's signature Interprofessional Projects Program (IPRO) joins together students from various academic disciplines to work as a team to tackle real-world problems, often on behalf of companies and nonprofits that sponsor the projects, using design-centered methodology and innovative thinking. A required academic program, IPRO teaches leadership, creativity, teamwork, design thinking, and project management to prepare students to succeed in a professional work environment. IPRO student teams have explored a range of ambitious topics. These include developing a platform for safe drug disposal, designing a functional retail building that produces as much energy as it uses over the course of a year: net-zero energy, harvesting condensate from HVAC systems to create drinking water for humans, and hundreds more. Every idea needs fuel to be successful. IIT's Idea Shop helps to ignite ideas with cutting-edge tools to enable students to transform their designs, products, and inventions into reality. In this state-of-the-art, rapid-prototyping lab, full-time staff and a diverse group of student workers advise users on equipment use, mechanical and electrical design, embedded systems programming, and much more. As a campus wide resource, students can use the Idea Shop for a class, research project, or their own personal endeavor. Under the College of Architecture is the university's award-winning Design/Build studios that allow students to design and construct full-scale buildings, fulfilling the notion of a "hands-on" education. The projects are entirely designed and built by architecture students at the Illinois Institute of Technology's College of Architecture. These projects are located all over the world. From Chicago, to Germany, to Ghana, to Indonesia, to Chile, and Puerto Rico, students have traveled near and far to perform their designs. Instruction supports over 40 academic majors, more than 70 minors, and a variety of specializations and is made up of over 6,900 students, including 3,129 undergraduate, 2,990 graduate, 838 law students, and 4 students in continuing education programs. The University offered and awarded 627 bachelor, 922 master, 231 J.D., 86 Ph.D., and 2 J.S.D. degrees during the 2022 academic year. 46723998 42157706 RESEARCH:- Research is the hallmark of our culture of excellence. Our faculty, students, and staff are leading bold research and discovery in fields where technology and innovation are creating significant, meaningful change. Our researchers are conducting research that matters in our everyday lives. We are contributing to advances in computation and data, health and wellness, and urban futures. Throughout our colleges and research centers, and in topics as varied as energy, theoretical physics, and social justice, our research reflects our commitment to scientific, technological, and professional knowledge creation and innovation. Research awards received in fiscal year 2022 were $37.2 million. The University received awards in the areas of science, engineering, technology, mathematics, and food safety all of which are synergistic with the strategic plan. Notably, the Electrical and Computer Engineering Department received 30 awards totaling $3.2 million and the Computer Science Department also received 23 awards for $2.5 million. The Biomedical Engineering Department received 27 awards for $3.2 million, Mechanical Material and Aerospace Engineering 47 awards totaling $3 million, Physics Department 32 awards totaling $3.2 million and the Department of Psychology 20 awards for $1.8 million. In addition, the National Center for Food Safety and Technology received 17 awards totaling $4.5 million and the Galvin Center was granted 1 award for $5 million. 17126851 14502985 AUXILIARY SERVICES:- This provides for campus housing and dining for the students and includes residence halls and a dining room, apartment-style buildings, eight fraternity houses, and two sorority houses. 16591326 18099781 STUDENT SERVICES:- This program provides health, academic, career services, transitional assistance, student orientation and other student services including the student finance center, admissions, and registration. 13025268 5868484 ACADEMIC SUPPORT:- IIT provides students with the information skills to compete in today's challenging and rapidly changing environment through its several libraries and academic computing centers allowing students access to terminals. In addition, the Academic Resource Center office offers several programs that provide peer tutoring, exam reviews, advising and counseling. 29616594 23968265 338236062 true false false true false false false false true true false false true true true false true true true true false false true false false false false true true true false false false false false false false false false false true true false false false true true true false false true X 6434 0 true 3297 true true true true IN false false false false false false false false true false X 71 70 true false false false false false false true true false false true true true true true true true true false MD SC X Kenneth Johnston 3125675850 3424 SOUTH STATE STREET TC-4TH FL CHICAGO IL 60616 Alan Cramb President to 07/31/21 38.8 1.0 X X 1506952 0 52329 Ellen M Jordan Vice Chair 1.0 0.0 X X 0 0 0 Michael P Galvin Chairman of the Board 1.0 0.0 X X 0 0 0 Raj Echambadi President from 8/1/21 38.8 1.0 X X 339836 0 8743 Thomas E Lanctot Vice Chair 1.0 0.0 X X 0 0 0 A Steven Crown Partial Year Trustee 1.0 0.0 X 0 0 0 Alan W Wendorf Trustee 1.0 0.0 X 0 0 0 Amanda Lannert Trustee 1.0 0.0 X 0 0 0 Andrea L Berry Trustee 1.0 0.0 X 0 0 0 Anita M Nagler Trustee 1.0 0.0 X 0 0 0 Brian C Walker Trustee 1.0 0.0 X 0 0 0 Bruce C Liimatainen Trustee 1.0 0.0 X 0 0 0 Bryan R Dunn Trustee 1.0 0.0 X 0 0 0 Carl S Spetzler Trustee 1.0 0.0 X 0 0 0 Carole Browe Segal Trustee 1.0 0.0 X 0 0 0 Carson Block Trustee 1.0 0.0 X 0 0 0 Carter H Eckert Trustee 1.0 0.0 X 0 0 0 Craig J Duchossois Trustee 1.0 0.0 X 0 0 0 Daniel R Ephraim Trustee 1.0 0.0 X 0 0 0 David J Vitale Trustee 1.0 0.0 X 0 0 0 David L Crowell Trustee 1.0 0.0 X 0 0 0 Douglas M Monieson Trustee 1.0 0.0 X 0 0 0 Edward L Kaplan Trustee 1.0 0.0 X 0 0 0 Efthimios J Stojka Trustee 1.0 0.0 X 0 0 0 Eric C Larson Trustee 1.0 0.0 X 0 0 0 Eric G Vassilatos Trustee 1.0 0.0 X 0 0 0 Frank Clark III Trustee 1.0 0.0 X 0 0 0 Harold Singleton III Trustee 1.0 0.0 X 0 0 0 James Dugan Trustee 1.0 0.0 X 0 0 0 James E Cowie Trustee 1.0 0.0 X 0 0 0 James Gagnard Trustee 1.0 0.0 X 0 0 0 James Hill Jr Partial Year Trustee 1.0 0.0 X 0 0 0 Jamshyd N Godrej Trustee 1.0 0.0 X 0 0 0 Jenny Niemann Trustee 1.0 0.0 X 0 0 0 Jimmy A Akintonde Trustee 1.0 0.0 X 0 0 0 Joel D Krauss Trustee 1.0 0.0 X 0 0 0 John C Walden Trustee 1.0 0.0 X 0 0 0 John G Olin Trustee 1.0 0.0 X 0 0 0 John Krehbiel Jr Trustee 1.0 0.0 X 0 0 0 John P Calamos Sr Trustee 1.0 0.0 X 0 0 0 John W Rowe Trustee 1.0 0.0 X 0 0 0 Judson B Althoff Trustee 1.0 0.0 X 0 0 0 Kaarina Koskenalusta Trustee 1.0 0.0 X 0 0 0 Karen R Klein Trustee 1.0 0.0 X 0 0 0 Kathleen Brandenburg Trustee 1.0 0.0 X 0 0 0 Kevin W Willer Trustee 1.0 0.0 X 0 0 0 Marc R Hannah Trustee 1.0 0.0 X 0 0 0 Mark P Sexton Trustee 1.0 0.0 X 0 0 0 Martin C Jischke Trustee 1.0 0.0 X 0 0 0 Martin Cooper Trustee 1.0 0.0 X 0 0 0 Mayari Pritzker Trustee 1.0 0.0 X 0 0 0 Michael J Graff Trustee 1.0 0.0 X 0 0 0 Michael Palumbo Trustee 1.0 0.0 X 0 0 0 Norbert O Kaiser Trustee 1.0 0.0 X 0 0 0 Pallavi Verma Trustee 1.0 0.0 X 0 0 0 Patrick J Kelly Trustee 1.0 0.0 X 0 0 0 Peter M Kelly III Trustee 1.0 0.0 X 0 0 0 Priscilla Anne Walter Partial Year Trustee 1.0 0.0 X 0 0 0 Ralph Wanger Trustee 1.0 0.0 X 0 0 0 Richard Neil Levy Trustee 1.0 0.0 X 0 0 0 Robert A Cornog Trustee 1.0 0.0 X 0 0 0 Robert D Hoel Trustee 1.0 0.0 X 0 0 0 Robert J Potter Trustee 1.0 0.0 X 0 0 0 Robert J Washlow Trustee 1.0 0.0 X 0 0 0 Rohit Prasad Trustee 1.0 0.0 X 0 0 0 Rosemarie Mitchell Trustee 1.0 0.0 X 0 0 0 S Christopher Gladwin Trustee 1.0 0.0 X 0 0 0 Sherrie B Littlejohn Trustee 1.0 0.0 X 0 0 0 Stacey M Kacek Trustee 1.0 0.0 X 0 0 0 Stephen C Urrutia Trustee 1.0 0.0 X 0 0 0 Stephen p Keogh Trustee 1.0 0.0 X 0 0 0 Ted Koenig Trustee 1.0 0.0 X 0 0 0 Victor A Morgenstern Trustee 1.0 0.0 X 0 0 0 Victor Tsao Trustee 1.0 0.0 X 0 0 0 Victoria L Noonan Trustee 1.0 0.0 X 0 0 0 Anthony D'Amato Vice Pres, Genr'l Cnsl & Sec 38.8 1.0 X 261411 0 31590 Darsh Wasan Distinguished Professor,ChBE 38.8 0.0 X 313126 0 40717 Edwin Watts VP of Administration 38.8 0.0 X 296866 0 23423 Ernest Iseminger Vice President 38.8 0.0 X 395833 0 42253 Jess Goode Vice President, Extn'l Affairs 38.8 0.0 X 234795 0 18534 Michael Gosz VP, Enrlmt/Vice Prov/AssocProf 38.8 0.0 X 362190 0 41179 Michael Horan VP Finance, CFO, Treasurer 38.8 1.0 X 330585 0 26151 Ophir Trigalo Vice Provost, CIO 38.8 0.0 X 294383 0 41488 Peter Kilpatrick Provost, SVP Academic Affairs 38.8 1.0 X 555789 0 42253 Walter Hazlitt Interim Genr'l Cnsl & Sec 38.8 1.0 X 155582 0 39609 Anita Krug Dean and Professor of Law 38.8 0.0 X 350705 0 42253 John Bilson Dean 38.8 0.0 X 320230 0 43320 Kenneth Christensen Kaplan Dean of Engineering 38.8 0.0 X 365825 0 40736 Lance Fortnow Professor and Dean COS 38.8 0.0 X 373414 0 42098 Reed Kroloff Dean-Architecture, Rowe Chair 38.8 0.0 X 317469 0 39784 Chun Liu Professor/Chair 38.8 0.0 X 311054 0 39260 Hamid Arastoopour Director, WISER/Professor 38.8 0.0 X 355558 0 43731 Jafar Saniie Dept. Chair & Filmer Professor 38.8 0.0 X 337237 0 35061 Mohammad Shahidehpour Distinguished Bodine Professor 38.8 0.0 X 408427 0 52101 Xian-He Sun Distinguished Professor 38.8 0.0 X 315507 0 44197 Harold Krent Professor of Law & Former Key Employee 38.8 0.0 X 297248 0 41011 Michelangelo Sabatino Professor & Former Key Employee 38.8 0.0 X 314798 0 36481 Miles Wernick Motorola Professor/Dir. Md Img & Former Highly Compensated Employee 38.8 0.0 X 276595 0 43198 Natacha DePaola Prof of BioMedEng/ Dir IDMET & Former Key Employee 38.8 0.0 X 324165 0 52054 Robert Brackett Vice President/Professor & Former Key Employee 38.8 0.0 X 251944 0 35401 Siva Balasubramanian Harold L. Stuart Endowed Chair & Former Highly Compensated Employee 38.8 0.0 X 317278 0 23538 Sumanta Acharya Professor/Department Chair & Former Highly Compensated Employee 38.8 0.0 X 310004 0 22671 10594806 0 1085164 383 true true false Gilbane Building Company 225 W Wacker Drive Chicago IL 60606 Construction 12389731 Chartwells Dining PO Box 91337 Chicago IL 606931337 Food Service Provider 4476902 GCA Services Group 1350 Euclid Ave Cleveland OH 44115 Janitorial services 3709336 Ventas Inc 353 N Clark Street Chicago IL 60654 Real estate rental service 2261620 SOS Security LLC 311 S Wacker Dr Chicago IL 60606 Security service 2156503 95 47718163 24306495 2255265 72024658 Tuition and Fees 611310 252267524 252267524 Sales/Services of Auxilliary Enterprises 722320 14526776 14502985 23791 Student Services 611710 15020334 15020334 Equity interest on IITRI 541700 3789824 3789824 0 0 0 0 285604458 3292287 -2859 3295146 1318965 166696 1152269 0 1152269 1152269 298147000 16000000 295670486 7771662 2476514 8228338 10704852 10704852 0 0 0 0 0 0 372778524 285580667 20932 15152267 136066011 136066011 8507990 2556966 3226602 2724422 1985187 794075 595556 595556 114988174 96696412 14852619 3439143 8524690 6953298 1297897 273495 11830633 5188051 6223486 419096 8119921 6623142 1236270 260509 427445 76950 350495 124570 124570 100000 100000 153691 153691 940065 940065 34913734 27025701 6366103 1521930 1401420 1392380 9040 2707590 2386081 310448 11061 4227800 1678863 2542546 6391 40881473 33217321 7664152 1061503 783412 96971 181120 20542 14302 1795 4445 5786325 3953325 1833000 18772054 12829772 5942282 725719 725719 0 0 0 0 402266537 338236062 54439616 9590859 3303015 2413488 19380167 19451916 8582507 8670305 0 0 4479985 4523834 660290219 327245440 329644940 333044779 298668140 283912501 7104453 11149262 27974468 30820757 31320953 52068850 730458628 746055692 36194807 39188895 12507565 9306093 157253000 152612000 0 33075000 38550000 24394969 38351742 263425341 278008730 X 175713701 187516279 291319586 280530683 467033287 468046962 730458628 746055692 X -29488013 -13615443 44117131 X false true X true true true X 63052564 84788322 111293482 76594323 72024658 407753349 0 0 63052564 84788322 111293482 76594323 72024658 407753349 33869378 373883971 7715863 7199304 6549097 3324068 4611252 29399584 0 0 0 0 0 0 45025 56440 32000 0 0 133465 437286398 1402881956 0.8550 0.8458 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - GROSS INCOME FROM FUNDRAISING EVENTS, COLUMN A - 45025.0, COLUMN B - 56440.0, COLUMN C - 32000.0, COLUMN D - 0.0, COLUMN E - 0.0, COLUMN F - 133465.0; false true false false false false true 100000 false false 100000 false Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY THOMSON COBURN WAS RETAINED TO HELP WITH FEDERAL LOBBY REGISTRATION AND DISCLOSURE REQUIREMENTS. IIT WAS REPRESENTED BY NOBLE VENTURES FOR DEVELOPMENT OF LEGISLATIVE STRATEGY AND AS LIAISON WITH THE OFFICE OF THE GOVERNOR AND OTHER STATE AND CITY AGENCIES AS DIRECTED BY IIT. IN ADDITION, IIT'S VICE PRESIDENT AND ASSOCIATE VICE PRESIDENT FOR EXTERNAL AFFAIRS INTERACT WITH FEDERAL, STATE, AND LOCAL OFFICIALS REGARDING SUCH MATTERS. 304324501 9252000 -7375000 6702851 5521149 293977501 255962501 7573000 62334000 6550000 14995000 304324501 242994501 18590000 6574000 6212900 5983100 255962501 251798501 1349000 2074000 6065360 6161640 242994501 243746501 5825000 14727000 5671397 6828603 251798501 0.23 0.77 0.0 false false 19432762 19432762 506186169 255127277 251058892 4658841 4658841 0 98557720 64360279 34197441 31454727 3099043 28355684 333044779 Beneficial interest on perpetual trust 24055820 Other receivables 27536030 Affiliated organizations 477000 52068850 Advances from U.S. Government for student loans 3063806 Obligation under split interest 381072 Deposits by students & others 2500262 Postretirement benefit obligation 833028 Asset retirement obligation 768767 Lease liability 2762087 Bond Premium Payable 11708176 Cost of Issuance -1660091 Deferred revenue from Cogen agreement 17994635 38351742 X Schedule D, Part V, Line 4 Intended uses of endowment funds The purpose of the endowment funds is to facilitate donors' desires to make substantial long-term gifts to the University and to develop a new and significant source of revenue for the University. In doing so, the endowment fund will provide a secure, long-term source of funds to: (a) fund special programs; (b) ensure long-term growth; (c) enhance the University's ability to meet changing community needs; and (d) support the administrative expenses of the University as deemed appropriate. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The University has received a determination letter from the Internal Revenue Service (IRS) stating that they are exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code except for tax on unrelated business income. It is management's belief that none of its activities have produced material unrelated business income, and that the University has operated in a manner that qualifies it for tax-exempt status. U.S. generally accepted accounting principles require University management to evaluate tax positions taken by the University and recognize a tax liability (or asset) if the University has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. Management has analyzed tax positions taken by the University and has concluded that as of May 31, 2022 and 2021, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the consolidated financial statements. The University is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The University management believes it is no longer subject to income tax examinations for years prior to 2019. true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY POLICY PUBLISHED YEARLY IN VARIOUS STUDENT BULLETINS. IT ALSO APPEARS ON APPLICATIONS, AND OTHER FORMS, AND IT IS POSTED ON THE UNIVERSITY'S WEBSITE. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT Department of Education:- Federal Supplemental Education Opportunity Grants Federal Direct Loans Federal Work Study Program Federal Pell Grant Program Federal Higher Education Emergency Relief Funds Illinois Student Assistance Commission:- Illinois Monetary Award Program Grants Grant Program for Descendants of Police, Fire, or Correctional Officers Europe (Including Iceland and Greenland) 0 2 Program Services STUDENT RECRUITING. 1131769 South Asia 3 3 Program Services FACILITATE DELIVERY OF ON-LINE EDUCATIONAL PROGRAMS AND STUDENT RECRUITING. 270000 East Asia and the Pacific 0 3 Program Services STUDENT RECRUITING AND ON-LINE MAS DEGREE PROGRAM. 113500 South America 0 1 Program Services STUDENT RECRUITING. 57975 Central America and the Caribbean Investments 69413231 3 9 0 0 3 9 70986475 0 70986475 true false true true false true Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EAST ASIA AND THE PACIFIC-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; SOUTH AMERICA-Accrual; SOUTH ASIA-Accrual X X X X X X true Ruffalo Noel Levitz LLC 1025 Kirkwood Pkwy SW Cedar Rapids IA 52404 PHONE SOLICITING false 54191 -54191 WASHBURN & MCGOLDRICK LLC 24 N Bryn Mawr Avenue Suite 252 Bryn Mawr PA 19010 CONSULT ON RAISING FUNDS false 24500 -24500 ORR Group 3000 K Steet E280 Washington DC 20007 Review fundraising procedures; provide recommendations. false 75000 -75000 0 153691 -153691 CT FL MD OR SC Schedule G, Part I, Line 2b(v) Amounts paid to fundraiser Washburn & McGoldrick LLC was engaged to increase private philanthropic support for IIT's operating budget, endowment and facilities. All of these resources are intended to enhance the educational purposes of the institution. Washburn & McGoldrick LLC do not at any time have custody or control of contributions. IIT exercises control and approval over the content and volume of any solicitation as Washburn & McGoldrick LLC never conducts solicitations on IIT's behalf. Payments for services are based on a monthly retainer and a per diem rate. Expenses are billed separately as expended and at cost, for travel, overnight accommodations, meals, and out-of-pocket expenses. Ruffalo Noel Levitz LLC conducted telephone fundraising campaigns for IIT and provided services to secure pledges and donations to support the educational mission of IIT. Their services related to the concept, design and strategies of the campaign and telephone solicitations to individuals identified on lists supplied by IIT. All funds raised were controlled by IIT. Ruffalo Noel Levitz LLC was paid fees for services provided in conducting the telephone fundraising campaigns. ORR Group was engaged to review the University's current fundraising procedures and to make recommendations for areas of improvement. ORR Group did not at any time solicit, control, or have custody of any fund donations. Payments for services are based on a monthly retainer and a per diem rate. Expenses are billed separately as expended and at cost, for travel, overnight accommodations, meals, and out-of-pocket expenses. Schedule G, Part I, Line 2b(ii) Describe the custody or control arrangement. RUFFALO NOEL LEVITZ, LLC-RUFFALO NOEL LEVITZ LLC CONDUCTED TELEPHONE FUNDRAISING CAMPAIGNS FOR IIT AND PROVIDED SERVICES TO SECURE PLEDGES AND DONATIONS TO SUPPORT THE EDUCATIONAL MISSION OF IIT. THEIR SERVICES RELATED TO THE CONCEPT, DESIGN AND STRATEGIES OF THE CAMPAIGN AND TELEPHONE SOLICITATIONS TO INDIVIDUALS IDENTIFIED ON LISTS SUPPLIED BY IIT. ALL FUNDS RAISED WERE CONTROLLED BY IIT. RUFFALO NOEL LEVITZ LLC WAS PAID FEES FOR SERVICES PROVIDED IN CONDUCTING THE TELEPHONE FUNDRAISING CAMPAIGNS.;WASHBURN & MCGOLDRICK LLC-WASHBURN & MCGOLDRICK LLC WAS ENGAGED TO INCREASE PRIVATE PHILANTHROPIC SUPPORT FOR IIT'S OPERATING BUDGET, ENDOWMENT AND FACILITIES. ALL OF THESE RESOURCES ARE INTENDED TO ENHANCE THE EDUCATIONAL PURPOSES OF THE INSTITUTION. WASHBURN & MCGOLDRICK LLC DO NOT AT ANY TIME HAVE CUSTODY OR CONTROL OF CONTRIBUTIONS. IIT EXERCISES CONTROL AND APPROVAL OVER THE CONTENT AND VOLUME OF ANY SOLICITATION AS WASHBURN & MCGOLDRICK LLC NEVER CONDUCTS SOLICITATIONS ON IIT'S BEHALF. PAYMENTS FOR SERVICES ARE BASED ON A MONTHLY RETAINER AND A PER DIEM RATE. EXPENSES ARE BILLED SEPARATELY AS EXPENDED AND AT COST, FOR TRAVEL, OVERNIGHT ACCOMMODATIONS, MEALS, AND OUT-OF-POCKET EXPENSES.;ORR GROUP-ORR GROUP WAS ENGAGED TO REVIEW THE UNIVERSITY'S CURRENT FUNDRAISING PROCEDURES AND TO MAKE RECOMMENDATIONS FOR AREAS OF IMPROVEMENT. ORR GROUP DID NOT AT ANY TIME SOLICIT, CONTROL, OR HAVE CUSTODY OF ANY FUND DONATIONS. PAYMENTS FOR SERVICES ARE BASED ON A MONTHLY RETAINER AND A PER DIEM RATE. EXPENSES ARE BILLED SEPARATELY AS EXPENDED AND AT COST, FOR TRAVEL, OVERNIGHT ACCOMMODATIONS, MEALS, AND OUT-OF-POCKET EXPENSES.; Schedule G, Part I, Line 2b(v) payment of fees or payment of expenses RUFFALO NOEL LEVITZ, LLC-PAYMENT OF FEES.;WASHBURN & MCGOLDRICK LLC-PAYMENT OF FEES.;ORR GROUP-PAYMENT OF FEES.; true SCHOLARSHIPS 7949 136066011 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. THE USE OF GRANT FUNDS IS MONITORED THROUGH A GRANT MANAGEMENT SYSTEM. X true true X X X true false false false false false false false false Alan Cramb President to 07/31/21 634748 0 846105 0 26099 0 26100 0 26229 0 1559281 0 0 0 Raj Echambadi President from 8/1/21 339318 0 0 0 518 0 0 0 8743 0 348579 0 0 0 Peter Kilpatrick Provost, SVP Academic Affairs 453431 0 76000 0 26358 0 26100 0 16153 0 598042 0 0 0 Ernest Iseminger Vice President 320161 0 53850 0 21822 0 26100 0 16153 0 438086 0 0 0 Michael Gosz VP, Enrlmt/Vice Prov/AssocProf 298868 0 61000 0 2322 0 24630 0 16549 0 403369 0 0 0 Michael Horan VP Finance, CFO, Treasurer 277209 0 51000 0 2376 0 21426 0 4725 0 356736 0 0 0 Darsh Wasan Distinguished Professor,ChBE 282616 0 27420 0 3090 0 23241 0 17476 0 353843 0 0 0 Ophir Trigalo Vice Provost, CIO 289819 0 1000 0 3564 0 23857 0 17631 0 335871 0 0 0 Edwin Watts VP of Administration 292302 0 1000 0 3564 0 23423 0 0 0 320289 0 0 0 Anthony D'Amato Vice Pres, Genr'l Cnsl & Sec 259272 0 1000 0 1139 0 20930 0 10660 0 293001 0 0 0 Jess Goode Vice President, Extn'l Affairs 232985 0 1000 0 810 0 18534 0 0 0 253329 0 0 0 Walter Hazlitt Interim Genr'l Cnsl & Sec 153762 0 1000 0 820 0 13380 0 26229 0 195191 0 0 0 Lance Fortnow Professor and Dean COS 370092 0 1000 0 2322 0 26100 0 15998 0 415512 0 0 0 Kenneth Christensen Kaplan Dean of Engineering 353515 0 1000 0 11310 0 26100 0 14636 0 406561 0 0 0 Anita Krug Dean and Professor of Law 348463 0 1000 0 1242 0 26100 0 16153 0 392958 0 0 0 John Bilson Dean 313272 0 1000 0 5958 0 25844 0 17476 0 363550 0 0 0 Reed Kroloff Dean-Architecture, Rowe Chair 293405 0 1000 0 23064 0 31684 0 8100 0 357253 0 0 0 Mohammad Shahidehpour Distinguished Bodine Professor 385356 0 16376 0 6695 0 26100 0 26001 0 460528 0 0 0 Hamid Arastoopour Director, WISER/Professor 299050 0 30902 0 25606 0 26100 0 17631 0 399289 0 0 0 Jafar Saniie Dept. Chair & Filmer Professor 288737 0 25398 0 23102 0 17585 0 17476 0 372298 0 0 0 Xian-He Sun Distinguished Professor 310499 0 1000 0 4008 0 19304 0 24893 0 359704 0 0 0 Chun Liu Professor/Chair 288232 0 1000 0 21822 0 23262 0 15998 0 350314 0 0 0 Natacha DePaola Prof of BioMedEng/ Dir IDMET & Former Key Employee 300101 0 1000 0 23064 0 26053 0 26001 0 376219 0 0 0 Michelangelo Sabatino Professor & Former Key Employee 237677 0 76000 0 1121 0 19932 0 16549 0 351279 0 0 0 Siva Balasubramanian Harold L. Stuart Endowed Chair & Former Highly Compensated Employee 275688 0 17000 0 24590 0 23538 0 0 0 340816 0 0 0 Sumanta Acharya Professor/Department Chair & Former Highly Compensated Employee 285940 0 1000 0 23064 0 22444 0 227 0 332675 0 0 0 Harold Krent Professor of Law & Former Key Employee 272566 0 0 0 24682 0 24067 0 16944 0 338259 0 0 0 Miles Wernick Motorola Professor/Dir. Md Img & Former Highly Compensated Employee 273438 0 1000 0 2157 0 18788 0 24410 0 319793 0 0 0 Robert Brackett Vice President/Professor & Former Key Employee 247002 0 1000 0 3942 0 19381 0 16020 0 287345 0 0 0 Schedule J, Part I, Line 1a Health or social club dues or initiation fees The University provided membership dues for Raj Echambadi President, and Ken Christensen Provost, to one business and one civic organization. These memberships are working condition fringe benefits that satisfied a business purpose under the accountable plan rule. Schedule J, Part I, Line 4a Severance or change-of-control payment On 7/31/21, Alan Cramb terminated his position as president of IIT. On 9/30/21, a special lump sum deferred compensation payment was made to Mr. Cramb for $625,000. The terms were that he had completed at least five years of service and that termination did not result from "cause" defined as criminal conviction, gross negligence, or any act of omission that would result in his suspension or removal as president. A ILLINOIS FINANCE AUTHORITY 861091967 000000000 2019-01-31 22278000 REFUND A PRIOR TAX-EXEMPT ISSUE DATED 7/22/2009 AND FOR FACILITY RENOVATION AND EQUIPMENT. false false false B ILLINOIS FINANCE AUTHORITY 861091967 000000000 2018-06-28 17972000 REIMBURSEMENT FOR THE ACQUISITION OF STUDENT RESIDENT FACILITIES. false false false C ILLINOIS FINANCE AUTHORITY 861091967 45204E7F9 2019-12-20 138525900 REFUND A PRIOR TAX-EXEMPT ISSUE DATED 3/23/2006 AND TO REIMBURSE ISSUANCE AND REFUNDINGS COSTS. false false false A 2666763 0 22278000 0 0 0 300999 0 0 321404 21655597 0 2019 true false true true B 2151237 0 17972000 0 0 0 92573 0 0 17879427 0 0 2018 false false true true C 5735000 0 138525900 0 0 0 1519760 0 0 0 137006140 0 2020 true false true true A false false false false 0.0 0.0 0.0 false false true B false false false false 0.0 0.0 0.0 false false true C false false false false 0.0 0.0 0.0 false false true A false false false true true false false false true B false false false true true false false false true C false false false true false false false false true A true B true C true Schedule K, Part II, Line 3 All listed bonds on Schedule K. If the total proceeds of the issue exceeds the issue price of the respective bond, the difference is due to investment earnings. Earnings are included in the total proceeds of each issue. Schedule K, Part IV, Line 2c COLUMN A Issuer name: ILLINOIS FINANCE AUTHORITY The calculation for computing no rebate due was performed on 02/25/2019 Schedule K, Part IV, Line 2c COLUMN B Issuer name: ILLINOIS FINANCE AUTHORITY The calculation for computing no rebate due was performed on 02/25/2019 Schedule K, Part IV, Line 2c COLUMN C Issuer name: ILLINOIS FINANCE AUTHORITY The calculation for computing no rebate due was performed on 02/02/2021 X 1 25000 Market value X 30184 Market value X 23 1775348 Market value X Mechanical batteries for campus research and equipment. 1 362000 Market value X Electronics test and measurement equipment and software 1 57339 Market value X Pitching equipment and baseball technology for University baseball team 1 4099 Market value X Three trees for College of Architecture campus 1 1295 Market value 1 false true false Schedule M, Part I Explanations of reporting method for number of contributions Securities - Publicly traded - number of contributions Other - Mechanical batteries for campus research and equipment. number of contributions Other - Electronics test and measurement equipment and software number of contributions Books and publications - 56 boxes of 20 books each for Graduate school. number of contributions Art - Works of art - Sculpture by American artist number of items received Other - Pitching equipment and baseball technology for University baseball team number of contributions Form 990, Part III, Line 4d Description of other program services (Expenses $ 16,591,326 including grants of $)(Revenue $ 18,099,781) STUDENT SERVICES:- This program provides health, academic, career services, transitional assistance, student orientation and other student services including the student finance center, admissions, and registration. Form 990, Part III, Line 4d Description of other program services (Expenses $ 13,025,268 including grants of $)(Revenue $ 5,868,484) ACADEMIC SUPPORT:- IIT provides students with the information skills to compete in today's challenging and rapidly changing environment through its several libraries and academic computing centers allowing students access to terminals. In addition, the Academic Resource Center office offers several programs that provide peer tutoring, exam reviews, advising and counseling. Form 990, Part VI, Line 1a Delegate broad authority to a committee As stated in Article 5, Section 5 of the organizations By-Laws, there shall be an Executive Committee of the Board of Trustees. With the caveat that the Board of Trustees may override the Executive Committee and except as otherwise provided in Article 5, Section 6, the Board of Trustees delegates to the Executive Committee all the powers vested in the Board of Trustees by law or by these Bylaws in the management of the property, business and affairs of the corporation. The Executive Committee shall include, as ex officio members, the Chair of the Board, the immediate past Chair, any Vice Chairs, the Chairs of all committees listed in Article 5, Sections 3 and 4, and the President. If the Chair of the Board of the IIT Alumni Association is a regularly elected or life trustee, then that individual shall be an ex officio member of the Executive Committee for the term of his or her office as Chair of the Board of the IIT Alumni Association. Up to eight additional members of the Executive Committee shall be annually elected for three-year terms by the Board of Trustees from the regularly elected members of the Board. Form 990, Part VI, Line 2 Family/business relationships amongst interested persons James E. Cowie and James Dugan - Business relationship, Patrick J. Kelly and Craig J. Duchossois - Business relationship, Eric C. Larson and Craig J. Duchossois - Business relationship, James Gagnard and Efthimos J. Stojka - Business relationship, Patrick J. Kelly and James E. Cowie - Business relationship, Stacey M. Kacek and Douglas M. Monieson - Business relationship Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 IS REVIEWED BY THE VP FINANCE, CFO & TREASURER, INTERIM CONTROLLER, ASSOCIATE CONTROLLER, AND BY THE INTERIM VP GENERAL COUNSEL & SECRETARY. ONCE THE FORM 990 IS APPROVED BY MANAGEMENT, THE FORM IS PRESENTED TO THE AUDIT AND COMPLIANCE COMMITTEE AND THE EXECUTIVE COMMITTEE (ACTING FOR THE FULL BOARD OF TRUSTEES) FOR REVIEW. WHEN THIS REVEIW IS COMPLETED, IT IS PUT ON A TRUSTEE WEBSITE GIVING ALL THE TRUSTEES THE OPPORTUNITY TO REVIEW. ONCE ALL REVIEWS ARE COMPLETED, THE VP FINANCE, CFO & TREASURER SIGNS THE FORM 990. Form 990, Part VI, Line 12c Conflict of interest policy ON AN ANNUAL BASIS, IIT EMPLOYEES AND BOARD OF TRUSTEE MEMBERS MUST REVIEW THE CONFLICT OF INTEREST POLICY. ALL EMPLOYEES AND TRUSTEES ARE REQUIRED TO SIGN AND DATE A CONFLICT OF INTEREST ATTESTATION DOCUMENT WHETHER A CONFLICT IS PRESENT OR NOT. GENERAL COUNSEL MONITORS THE EMPLOYEES AND TRUSTEES THAT HAVE REVIEWED THE POLICY AND DOCUMENTS THE CONFLICT OF INTEREST INSTANCES. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE BOARD OF TRUSTEES HAS ESTABLISHED AN INDEPENDENT COMPENSATION COMMITTEE THAT IS RESPONSIBLE FOR RECOMMENDING THE PRESIDENT'S (CEO) SALARY. THE COMMITTEE WILL BASE THE SALARY ON A HUMAN RESOURCE BENCHMARK STUDY COMPARING SELECTED UNIVERSITIES HAVING SIMILAR STUDENT ENROLLMENTS AND PROGRAMS. ON AN ANNUAL BASIS, HUMAN RESOURCES WILL PROVIDE THE COMMITTEE AN UPDATED BENCHMARK SURVEY FOR THEIR REVIEW. BASED ON THE ANNUAL SURVEY, THE COMMITTEE MAY RECOMMEND AN ADJUSTMENT TO THE PRESIDENT'S SALARY. AFTER THE EXECUTIVE COMMITTEE REVIEWS THE COMPENSATION COMMITTEE RECOMMENDATIONS, IT VOTES TO APPROVE THE COMPENSATION. Form 990, Part VI, Line 15b Process to establish compensation of other employees The authority to recommend the annual salaries of the Vice Presidents and other senior officers is delegated to an independent Compensation Committee by the Board of Trustees. The Committee, with input from the President, obtains comparative analyses and studies from the Human Resource department with respect to compensation of similar organizations to ensure that the University's compensation is comparable. After the Executive Committee reviews the compensation committee recommendations, it votes to approve the compensation. Form 990, Part VI, Line 19 Required documents available to the public FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE LOCATED ON THE ILLINOIS INSTITUTE OF TECHNOLOGY'S WEBSITE. Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN ASSET RETIREMENT OBLIGATION, NET - 366450; RESTRUCTURING EXPENSES - -4279994; UNREAL. GAIN ON BENEFICIAL INTEREST IN PERPETUAL TRUST - -2754806; GAIN ON CANCELLATION OF BROADBAND LICENSE - 55000000; OTHER - -344469; CUMULATIVE EFFECT OF CHANGE IN LEASE ACCOUNTING - -3870050; IIT RESEARCH INSTITUTE 10 WEST 35TH STREET 4th FL CHICAGO IL 60616 362169122 RESEARCH IL 501(c)(3) 11 ILLINOIS INSTITUTE OF TECHNOLOGY true PERPETUAL TRUST (7) BENEFICIAL INTEREST IN DONOR TRUSTS C/O IIT 3424 SOUTH STATE STREET TC-4 FL CHICAGO IL 60616 DISTRIBUTION OF TRUST ASSETS TO BENEFICIARIES IL NA Trust false ILLINOIS INSTITUTE OF TECHNOLOGY (INDIA) PRIVATE LTD 677 16th Main 6th Cross 3rd Blo Koramangala Behind BDA complex BENGALORE IN 560034 FACILITATES EDUCATIONAL PROGRAMS IN ILLINOIS INSTITUTE OF TECHNOLOGY C Corporation 271455 209309 1 true true false false false false false false false false true false true false true false true true false false IIT India P 270000 FMV IIT Research Institute A 219554 FMV IIT Research Institute J 219554 FMV IIT Research Institute L 749878 FMV IIT Research Institute Q 1768459 FMV