2023-04-04T20:30:09+00:00 2022-06-30 990 2021-07-01 160743140 Rochester Institute of Technology ROCH 5854752383 Controller 46 Lomb Memorial Dr Rochester NY 146235604 James H Watters Sr VP Finance & Admin 5854752383 2023-04-04 James H Watters 999009999 2021 2023-04-26 12:10:37Z David C Munson Jr 7 Lomb Memorial Drive Rochester NY 146235603 1593805023 false X www.rit.edu X 1830 NY ROCHESTER INSTITUTE OF TECHNOLOGY (RIT) SHAPES THE FUTURE AND IMPROVES THE WORLD THROUGH CREATIVITY AND INNOVATION. AS AN ENGAGED, INTELLECTUALLY CURIOUS, AND SOCIALLY CONSCIOUS COMMUNITY, RIT LEVERAGES THE POWER OF TECHNOLOGY, THE ARTS, AND DESIGN FOR THE GREATER GOOD. 41 37 10958 6081 5249486 0 179271648 213973510 662164088 742399043 63667291 108580861 4470154 6370931 909573181 1071324345 293055691 352656560 0 384272843 404206234 219947 299920 10668644 157242377 165159873 834790858 922322587 74782323 149001758 2550492860 2526196996 641475929 613951641 1909016931 1912245355 ROCHESTER INSTITUTE OF TECHNOLOGY (RIT) SHAPES THE FUTURE AND IMPROVES THE WORLD THROUGH CREATIVITY AND INNOVATION. AS AN ENGAGED, INTELLECTUALLY CURIOUS, AND SOCIALLY CONSCIOUS COMMUNITY, RIT LEVERAGES THE POWER OF TECHNOLOGY, THE ARTS, AND DESIGN FOR THE GREATER GOOD. false false 641801476 321742326 646986135 Instruction and Academic Support - Established in 1829, RIT is one of the world's premier universities with an innovative and creative student body from all fifty states and over 100 nations. RIT total enrollment in Fall 2021 was approximately 19,720, which included approximately 16,670 undergraduate and 3,050 graduate students. Approximately 16,875 students are enrolled at RIT's main campus and the remainder at international locations. RIT is comprised of nine colleges and two degree-granting academic units offering 254 graduate and undergraduate programs. NTID (National Technical Institute for the Deaf), one of RIT's colleges, is the world's first and largest technical institute college for deaf students with approximately 1,170 students from the United States and abroad. Over the preceding 10 years, enrollment has increased from 17,652 students in the Fall of 2011 to 19,718 students in the Fall of 2021, an increase of 12%. 153101982 22733104 90675582 Student and Auxiliary Services - Student services provide students with additional enrichment and educational opportunities. Such services include student health, athletics, and other recreational activities. Auxiliaries provide essential services to students in support of RIT's educational mission. These services include housing operations and dining services. Sales and services of auxiliary enterprises generated total revenue of $86 million, an increase of $18.1M from the prior year. Surpluses from auxiliary services support the operating budget of the University. 65588223 8181129 4737326 Research and Public Support - RIT engages in public service activities that benefit the general community in which it resides, including training, postsecondary education for the deaf and hard of hearing, and K-12 programs. RIT also conducts research to advance the body of knowledge, enhance student and faculty learning and build its reputation in the scientific and technical communities in support of, or in concert with, the University's exempt mission, while providing positive returns to our sponsoring partners. As articulated in RIT's strategic plan, the University continues to place emphasis on its revenue growth in the research portfolio. 860491681 true false false true false true true false true true true false false true true false true true true true true false true true false false true true true true false false false false false false true false true true true true false false true true true true false false true X 2021 0 true 10958 true true true true HR false false false true true false false false false false false X 41 37 true false false false false false false true true false false true true true true true true true true false CA MT NY NC ND OK PA VT WV X X MILAGROS CONCEPCION 5854752383 7 Lomb Memorial Drive Rochester NY 146235603 DAVID C MUNSON PRESIDENT 40.0 0.1 X X 873883 0 97778 ANDREW N BRENNEMAN TRUSTEE 0.1 X 0 0 0 ANDREW R JACOBSON TRUSTEE 0.1 X 0 0 0 ARTHUR A GOSNELL TRUSTEE 0.1 X 0 0 0 AUSTIN W MCCHORD TRUSTEE 0.1 X 0 0 0 BRIAN P O'SHAUGHNESSY TRUSTEE 0.1 X 0 0 0 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42513404 82689101 7919050 26332737 0 938162179 0.5344 0.4631 0.0025 true false 11924062 11924062 1124862591 559481906 565380685 154309641 117314154 36995487 109197729 109197729 723497963 BENEFICIAL INTERESTS IN TRUSTS 1813034 F CASH SURRENDER VALUE OF LIFE INSURANCE 218784 F COMMINGLED EQUITY FUNDS 331253470 F COMMINGLED FIXED INCOME FUNDS 21985386 F PRIVATE PLACEMENTS 561185538 F HEDGE FUNDS 261869383 F CDARS HELD FOR INVESTMENT 11579015 F 1189904610 FEDERAL PERKINS LOAN PROGRAM 11555735 ASSET RETIREMENT OBLIGATIONS 29820369 ASC 715 POSTRETIREMENT BENEFITS OBLIGATION 117703298 RIGHT-OF-USE FINANCE LEASE OBLIGATION 721883 ALL OTHER 5312255 165113540 X Schedule D, Part II, Line 9 Conservation easements financial reporting IN 2007, THE UNIVERSITY ENTERED INTO A CONSERVATION EASEMENT WITH THE TOWN OF HENRIETTA, NY. THE CONSERVATION EASEMENT IS VALUED AS PART OF THE LAND AND RECORDED IN RIT'S FINANCIAL STATEMENTS. Schedule D, Part III, Line 4 Collections of art - description of collections THE UNIVERSITY'S SPECIAL COLLECTIONS INCLUDE MANUSCRIPTS AND CORRESPONDENCE COLLECTIONS ON THE HISTORY AND PRACTICE OF GRAPHIC COMMUNICATION TECHNOLOGIES, HOLDINGS ON BOOKBINDING, PAPERMAKING, TYPE DESIGN, CALLIGRAPHY, AND BOOK ILLUSTRATION. COLLECTIONS ARE AVAILABLE TO STUDENTS, RESEARCHERS, AND THE PUBLIC THROUGH AN ONLINE DATABASE. THE UNIVERSITY CAMPUS IS ALSO HOME TO A COLLECTION OF PUBLIC ART INCLUDING, BUT NOT LIMITED TO, MURALS, PAINTINGS, AND STATUES. Schedule D, Part V, Line 4 Intended uses of endowment funds THE INTENDED USES OF THE UNIVERSITY'S ENDOWMENT FUNDS, AS DETERMINED BY EITHER DONOR RESTRICTION OR BOARD DESIGNATION, INCLUDE SCHOLARSHIPS, AWARDS, PROFESSORSHIPS, LECTURES, AND OTHER GENERAL SUPPORT OF THE UNIVERSITY'S EDUCATIONAL AND RESEARCH MISSION. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE UNIVERSITY AND ITS CONSOLIDATED US SUBSIDIARIES, EXCEPT FOR VENTURE FUND I, LLC (FUND I), ARE NOT-FOR-PROFIT ORGANIZATIONS, AND GENERALLY EXEMPT FROM INCOME TAXES ON RELATED INCOME UNDER SECTION 501(C)(3) OF THE IRC BUT ARE SUBJECT TO UNRELATED BUSINESS INCOME TAX ON ACTIVITIES NOT RELATED TO THEIR EXEMPT PURPOSES. FUND I, A LIMITED LIABILITY COMPANY IS A WHOLLY OWNED SUBSIDIARY OF RIT WITH NO OTHER OWNERS, AND RIT VF ARC HOLDING LLC, A LIMITED LIABILITY COMPANY, IS A WHOLLY OWNED SUBSIDIARY OF FUND I WITH NO OTHER OWNERS, BOTH CLASSIFIED AS DISREGARDED ENTITIES FOR FEDERAL INCOME TAX PURPOSES. THE ACCOUNTING FOR INCOME TAXES TOPIC OF THE FASB ACCOUNTING STANDARDS CODIFICATION ADDRESSES THE DETERMINATION OF WHETHER CERTAIN TAX POSITIONS RESULT IN BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN AND WHETHER THEY SHOULD BE RECORDED IN THE CONSOLIDATED FINANCIAL STATEMENTS. FOR TAX-EXEMPT ENTITIES, TAX POSITIONS INCLUDE THE ENTITY'S TAX-EXEMPT STATUS AND ASSUMPTIONS USED TO DETERMINE UNRELATED BUSINESS TAXABLE INCOME. THE UNIVERSITY BELIEVES ITS TAX POSITIONS MEET THE MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD REFERENCED IN THE TOPIC. 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 RIT'S RACIALLY NON-DISCRIMINATORY POLICY WITH RESPECT TO STUDENT SOLICITATION IS PUBLICIZED IN ALL UNIVERSITY APPLICATIONS, REGISTRATIONS AND OTHER CAMPUS-WIDE PUBLICATIONS. IN ADDITION, RIT PUBLICIZES ITS RACIALLY NON-DISCRIMINATORY EMPLOYMENT POLICIES WHEN RECRUITING FOR OPEN POSITIONS. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT THE UNIVERSITY IS THE RECIPIENT OF APPROPRIATIONS AND ASSISTANCE FROM THE DEPARTMENT OF EDUCATION TO OPERATE THE NATIONAL TECHNICAL INSTITUTE FOR THE DEAF AND TO SUPPORT THE FEDERAL WORK STUDY AND FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANT PROGRAMS. THE UNIVERSITY ALSO RECEIVES AN APPROPRIATION OF DIRECT INSTITUTIONAL SUPPORT OF "BUNDY AID" FROM THE NEW YORK STATE DEPARTMENT OF EDUCATION. IN FISCAL YEAR 2021, THE UNIVERSITY AND NTID RECEIVED APPROPRIATIONS ESTABLISHED BY THE CORONAVIRUS RESPONSE AND RELIEF SUPPLEMENTAL APPROPRIATIONS ACT (CRRSAA) and THE AMERICAN RESCUE PLAN ACT (ARPA). RIT received Higher Education Emergency Relief Funds (HEERF II and HEERF III) to provide emergency grants to students and to address the financial impact of lost revenues and campus modifications due to the COVID-19 pandemic. All HEERF II funds (Institutional and Student) and all Institutional HEERF III funds were expended in fiscal year 2021. All student HEERF III funds were expended in fiscal year 2022. NTID received funds to prevent, prepare for, and respond to coronavirus, including to defray expenses associated with coronavirus and to enable grants to students. Through fiscal year 2022, NTID has expended all CRRSAA funding and a portion of the ARPA funding. Central America and the Caribbean Investments 303001937 Europe (Including Iceland and Greenland) Investments 50742168 North America (Canada & Mexico only) Investments 830746 Middle East and North Africa Investments 250000 0 0 0 0 0 0 354824851 0 354824851 Sub-Saharan Africa Machine learning dataset development for Manding languages 29127 WIRE North America (Canada & Mexico only) PROVIDE CLINICAL AND IMAGING EXPERTISE COMPLEMENTAR Y TO COMPUTATIONAL BIOMEDICINE EXPERTISE AT RIT. 142217 CHECK 0 2 true false true true true false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; MIDDLE EAST AND NORTH AFRICA-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual Schedule F, Part II, Line 1 Method used to account for expenditures on org's financial statements NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual; SUB-SAHARAN AFRICA-Accrual X X X X X X X true RUFFALO NOEL LEVITZ 1025 KIRKWOOD PARKWAY SW ATTENTION CFO CEDAR RAPIDS IA 524048629 ADVISORS TO THE UNIVERSITY ON SECURING PLEDGES AND DONATIONS false 0 200766 -200766 BENTZ WHALEY FLESSNER AND ASSOCIATES INC 7900 XERXES AVE S MINNEAPOLIS MN 55431 EVALUATION OF PROSPECT CAPACITY, ANNUAL GIVING, PROSPECT DEVELOPMENT, AND STAFFING STRUCTURE false 0 99154 -99154 0 299920 -299920 CO CT FL AL HI LA AK MA MI MN NV NH SC UT VA AR WA TIGER OPEN 38672 14715 23957 2786 8855 11585 9370 0 0 38672 14715 23957 2786 8855 11585 9370 32596 -8639 Schedule G, Part I, Line 2b(ii) Describe the custody or control arrangement. RUFFALO NOEL LEVITZ-RUFFALO NOEL LEVITZ, LLC WILL NOT HAVE CUSTODY OR CONTROL OF CONTRIBUTIONS AT ANY TIME. ROCHESTER INSTITUTE OF TECHNOLOGY (RIT) EXERCISES CONTROL AND APPROVAL OVER CONTENT, VOLUME, AND FREQUENCY OF ALL SOLICITATIONS. RIT SECURES PLEDGES AND DONATIONS TO SUPPORT OPERATIONAL ACTIVITIES. THE SPECIFIC APPLICATION OF THE FUND WILL BE AT THE DISCRETION OF RIT.;BENTZ, WHALEY, FLESSNER, AND ASSOCIATES INC-BENTZ, WHALEY, FLESSNER, AND ASSOCIATES INC WILL NOT HAVE CUSTODY OR CONTROL OF CONTRIBUTIONS AT ANY TIME. ROCHESTER INSTITUTE OF TECHNOLOGY (RIT) EXERCISES CONTROL AND APPROVAL OVER CONTENT, VOLUME, AND FREQUENCY OF ALL SOLICITATIONS. RIT SECURES PLEDGES AND DONATIONS TO SUPPORT OPERATIONAL ACTIVITIES. THE SPECIFIC APPLICATION OF THE FUND WILL BE AT THE DISCRETION OF RIT.; true ALEXANDER GRAHAM BELL ASSOCIATION FOR THE DEAF AND HARD OF HEARING 3417 Volta Place NW Washington DC 20007 530196644 501C3 15000 Sponsorship/Event Sponsorship ATOMIC HANDS 3916 Wallace Rd Capitol Heights MD 207433251 844020988 501C3 10000 Sponsorship CENTER FOR YOUTH SERVICES 905 Monroe Ave Rochester NY 14620 160992259 501C3 11250 Sponsorship CLARKE SCHOOL FOR THE DEAF 45 Round Hill Rd Northampton MA 01060 042104008 501C3 12000 Sponsorship CONFERENCE OF EDUCATIONAL ADMINISTRATORS PO BOX 116 Washington Grove MD 20880 520845428 501C3 14000 Sponsorship/Event Sponsorship CORNELL UNIVERSITY 341 PINE TREE ROAD ITHACA NY 14850 150532082 501C3 10000 Event Sponsorship DISTRIBUTIVE EDUCATION CLUBS OF AMER INC 1908 Association Dr Reston VA 20191 530215806 501C3 8125 Sponsorship GREATER ROCHESTER ENTERPRISE INC 100 Chestnut St Ste 1910 Rochester NY 14604 100000080 501C6 50000 General Support HANDS & VOICES PO Box 3093 Boulder CO 80307 201549740 501C3 38000 Sponsorship/Event Sponsorship HENRIETTA FIRE DISTRICT 850 Bailey Rd W Henrietta NY 14586 160974231 State of NY 45000 General Support HOCKEY WESTERN NEW YORK LLC One Seymour H Knox III Plaza Buffalo NY 14203 562330641 STATE LAW 25000 Sponsorship MARK SEVEN DEAF FOUNDATION INC 144 Mohawk Hotel Rd Old Forge NY 13420 521158675 501C3 20000 Event Sponsorship NATIONAL ASSOCIATION OF THE DEAF 8630 Fenton St Ste 820 Silver Spring MD 20910 941358295 501C3 19500 Event Sponsorship ROCHESTER FRINGE FESTIVAL INC 208 Mill Street-Lower Level Rochester NY 14614 452840652 501C3 25000 Event Sponsorship ROCHESTER HOCKEY LLC One Seymour H Knox III Plaza Buffalo NY 14203 452600404 STATE LAW 10000 Event Sponsorship ROCHESTER REGIONAL HEALTH FOUNDATION 100 Kings Highway South No 2300 Rochester NY 14617 222229425 501C3 25000 Event Sponsorship SOUTHEAST REGIONAL INSTITUTE ON DEAFNESS 5266 DURAND HWY Warm Spring GA 31830 010554310 501C3 10000 Event Sponsorship USA DEAF SPORTS FEDERATION INC 4001 BUCKEYSTOWN PIKE 92 BUCKEYSTOWN MD 21717 526044700 501C3 12500 Event Sponsorship WOMEN IN CYBERSECURITY (WICYS) 370 S Lowe Ave Cookeville TN 38501 822750482 501C3 5600 Event Sponsorship 16 3 SCHOLARSHIP 15122 318545190 GRADUATE RESEARCH ASSISTANCE 524 8691893 FELLOWSHIPS 52 292836 STUDENT LEADERS AND ENTREPRENEURS 335 484562 Schedule I, Part III NUMBER OF RECIPIENTS THE UNIVERSITY ESTIMATES THE NUMBER OF RECIPIENTS FROM RECORDS MAINTAINED IN OUR FINANCIAL AID (SCHOLARSHIPS) AND ACCOUNTS PAYABLE SYSTEM (GRADUATE RESEARCH ASSISTANCE STIPENDS, FELLOWSHIPS AND STUDENT LEADERS AND ENTREPRENEURS) WHICH HAVE BEEN CLASSIFIED BY THE TYPE OF ASSISTANCE. Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. SCHOLARSHIPS, FELLOWSHIPS, AND OTHER STUDENT RELATED FINANCIAL AID MUST BE USED FOR EDUCATIONAL PURPOSES. SCHOLARSHIPS AND GRANTS ARE CREDITED DIRECTLY TO STUDENT ACCOUNTS THROUGH AN AUTOMATED SYSTEM AUTHORIZED BY THE UNIVERSITY'S OFFICE OF FINANCIAL AID AND SCHOLARSHIPS. X X X X false true X X X X X X false false false false false false false false false DAVID C MUNSON PRESIDENT 784922 0 45247 0 43714 0 26100 0 71678 0 971661 0 0 0 JAMES H WATTERS SVP FINANCE AND ADMINISTRATION 534279 0 22176 0 16877 0 29000 0 12322 0 614654 0 0 0 ELLEN M GRANBERG PROVOST AND SVP ACADEMIC AFFAIRS 452074 0 15229 0 902 0 26100 0 20013 0 514318 0 0 0 RYNE RAFFAELLE VP RESEARCH 345277 0 0 0 22246 0 29000 0 60120 0 456643 0 0 0 SANDRA S JOHNSON SVP STUDENT AFFAIRS 341887 0 5911 0 9390 0 26100 0 66800 0 450088 0 0 0 IAN J MORTIMER VP ENROLLMENT MGMT & ASSOC PROVOST, RIT CERTIFIED 364185 0 0 0 26113 0 26100 0 27176 0 443574 0 0 0 PHILLIP D CASTLEBERRY VP UNIVERSITY ADVANCEMENT 374891 0 0 0 7677 0 26100 0 21231 0 429899 0 0 0 GERARD BUCKLEY PRESIDENT NTID & VP AND DEAN RIT 352271 0 0 0 7243 0 29000 0 20289 0 408803 0 0 0 JOHN K TRIERWEILER VP CHIEF MARKETING OFFICER 295046 0 0 0 3649 0 26100 0 30069 0 354864 0 0 0 ROBERT COLON VP & GENERAL COUNSEL 283461 0 0 0 2707 0 29000 0 21802 0 336970 0 0 0 LISA A CHASE VP & SECRETARY OF THE INSTITUTE 286099 0 0 0 1936 0 29000 0 14462 0 331497 0 0 0 VANESSA J HERMAN VP FOR GOVT & COMMUNITY RELATIONS 256953 0 0 0 17813 0 21632 0 14369 0 310767 0 0 0 KEITH JENKINS VP & ASSOC PROVOST FOR DIVERSITY & INCLUSION 220608 0 0 0 4326 0 22796 0 31881 0 279611 0 0 0 NABIL Z NASR ASSOC PROVOST DIR GOLISANO INST OF SUSTAINABILITY 466520 0 0 0 115546 0 29000 0 22141 0 633207 0 0 0 JACQUELINE MOZRALL DEAN SAUNDERS COLLEGE OF BUSINESS 358392 0 0 0 30102 0 29000 0 75412 0 492906 0 0 0 DANIEL ORNT PROFESSOR 408738 0 0 0 20167 0 26100 0 20007 0 475012 0 0 0 DONALD F FIGER PROF AND DIR CENTER FOR DETECTORS 286570 0 0 0 37656 0 22023 0 58963 0 405212 0 0 0 DOREEN EDWARDS DEAN COLLEGE OF ENGINEERING 332627 0 0 0 672 0 26100 0 19696 0 379095 0 0 0 CHRISTINE M LICATA FORMER INTERIM PROVOST 269865 0 0 0 7231 0 27800 0 16723 0 321619 0 0 0 KATHERINE J MAYBERRY FORMER VP FOR STRATEGIC PLANNING AND SPECIAL INITIATIVES 227574 0 0 0 16966 0 23103 0 9926 0 277569 0 0 0 KAREN A BARROWS FORMER SECRETARY OF THE INST AND CHIEF OF STAFF 142493 0 0 0 2277 0 14380 0 8533 0 167683 0 0 0 Schedule J, Part I, Line 1a First-class or charter travel The President is required to travel extensively for RIT matters. Due to the amount of travel and the need to coordinate trips with the many other commitments for the position, the University pays for business class air travel (or its equivalent) for international travel and business/first class travel (or its equivalent) for domestic travel over three hours when the President travels for University business. Schedule J, Part I, Line 1a Travel for companions WHEN BUSINESS CIRCUMSTANCES WARRANT, THE UNIVERSITY MAY PAY FOR TRAVEL FOR COMPANIONS OF THE OFFICERS AND/OR HIGHLY COMPENSATED EMPLOYEES WHEN THEIR GUEST IS A FAMILY MEMBER, WHETHER OR NOT FOR BONA FIDE BUSINESS PURPOSES. THE PERSONAL USE PORTION OF THE BENEFIT IS TREATED AS TAXABLE COMPENSATION AND ADDED TO THE EMPLOYEES' FORM W-2. Schedule J, Part I, Line 1a Housing allowance or residence for personal use DUE TO THE NUMBER OF UNIVERSITY-RELATED ACTIVITIES THAT THE PRESIDENT IS REQUIRED TO HOST, HE IS REQUIRED TO LIVE IN A HOME OWNED AND MAINTAINED BY THE UNIVERSITY. THIS BENEFIT IS NOT DEEMED TO BE TAXABLE COMPENSATION. Schedule J, Part I, Line 1a Health or social club dues or initiation fees THE UNIVERSITY PAYS SOCIAL CLUB INITIATION FEES AND DUES FOR EIGHT OFFICERS INCLUDING FORMER AND/OR HIGHLY COMPENSATED EMPLOYEES. THE PERSONAL USE PORTION OF THE BENEFIT IS TREATED AS TAXABLE COMPENSATION AND ADDED TO THE EMPLOYEES' FORM W-2. Schedule J, Part I, Line 1b Written policy regarding payment or reimbursement of expenses EACH OF THE BENEFITS INDICATED IS AVAILABLE TO THE PRESIDENT; CERTAIN OF THESE BENEFITS ARE AVAILABLE TO SELECT OFFICERS AND HIGHLY COMPENSATED EMPLOYEES. AMOUNTS CONSIDERED TAXABLE ARE REPORTED COMPENSATION INCLUDED ON THE EMPLOYEE'S FORM W-2. SINCE THESE BENEFITS ARE LIMITED TO VERY FEW INDIVIDUALS, A WRITTEN POLICY IS NOT CONSIDERED NECESSARY; HOWEVER, THE UNIVERSITY HAS SPECIFIC WRITTEN POLICIES PERTAINING TO TRAVEL EXPENDITURES AND PAYMENTS/REIMBURSEMENTS. Schedule J, Part I, Line 3 METHODS USED TO ESTABLISH COMPENSATION THE UNIVERSITY UTILIZES EACH OF THE METHODS LISTED IN SCHEDULE J, PART I, LINE 3 ON AN ANNUAL BASIS WITH THE EXCEPTION OF REVIEWING FORM 990 OF OTHER ORGANIZATIONS EVERY OTHER YEAR. IN THE YEAR THAT 990 OF OTHER ORGANIZATIONS ARE NOT REVIEWED BY THE UNIVERSITY, A BROADER COMPENSATION SURVEY OR STUDY IS CONDUCTED. A DASNY RIT SERIES 2006A 146000293 64983QF38 2006-05-04 61706239 SEE SUPPLEMENTAL INFORMATION false false false B DASNY RIT SERIES 2012A 146000293 649907HM7 2012-12-12 168217368 SEE SUPPLEMENTAL INFORMATION true false false C DASNY RIT Series 2019A 146000293 64990GTN2 2019-10-08 143479011 SEE SUPPLEMENTAL INFORMATION false false false D DASNY RIT Series 2020A 146000293 64990GUV2 2020-04-03 57366744 SEE SUPPLEMENTAL INFORMATION false false false A 52325000 0 61710620 0 0 0 457585 470127 15809 0 60767099 0 2000 false true true true B 8200000 136050000 168328534 0 2881587 0 854858 0 0 58089438 109384237 0 2015 false true true true C 0 0 147109923 0 0 0 647850 0 0 50276523 22669875 73515678 false false false true D 3855000 0 57371208 0 0 0 341939 0 0 0 57029269 0 true false true true A 0.0 0.0 0.0 B false true true false true false 0.0003 0.0 0.0003 false false true C false true true false true false 0.0 0.0 0.0 false false true D false true true false true false 0.0001 0.0 0.0001 false false true A false false false true false false false false true B false false false true false false false false true C false true false false false false false false true D false true false false false false false false true A true B true C true D true Schedule K, Part II, Line 11 LINE 11B, SERIES 2012 OTHER SPENT PROCEEDS, INCLUDES $75,000 FOR ISSUER/DASNY FEES AND $109,309,237 OF PROCEEDS USED TO LEGAL DEFEASE SERIES 2002B AND SERIES 2008A WITH REDEMPTION DATES OF JULY 1, 2016 AND JULY 1, 2018, RESPECTIVELY Schedule K, Part I, Column (f) ISSUER NAME - DASNY, RIT SERIES 2006A LINE A (f): THE SERIES 2006A (ADVANCE REFUNDING OF DASNY, RIT SERIES 1997, ISSUED JULY 15, 1997) - PROJECT CONSISTS OF CONSTRUCTION, RENOVATION AND IMPROVEMENTS TO VARIOUS RESIDENTIAL BUILDINGS AND APARTMENT COMPLEXES AND A FINANCIAL INFORMATION SYSTEM. PURSUANT TO CODE SECTION 150(C)(3)(ii), THE ISSUE REPORTED IN THE INFORMATION RETURN FOR TAX-EXEMPT PRIVATE ACTIVITY BOND ISSUES (FORM 8038) AND THE REISSUANCE OF THE SAME DATE OF THE ISSUER'S ROCHESTER INSTITUTE OF TECHNOLOGY INSURED REVENUE BONDS, SERIES 2002B. AS REPORTED IN A SEPARATE 8038 DATED MAY 4, 2006, ARE TREATED AS PARTS OF A SINGLE ISSUE FOR CERTAIN PURPOSES DESCRIBED IN A CODE SECTION 150(C)(3)(ii). Schedule K, Part II, Line 11 LINE 11A, SERIES 2006A OTHER SPENT PROCEEDS, INCLUDES $75,000 FOR ISSUER/DASNY FEES, $400,919 FOR STATE ISSUANCE FEES AND $60,291,180 OF PROCEEDS USED TO LEGALLY DEFEASE THE OUTSTANDING AGGREGATE PRINCIPAL AMOUNT OF SERIES 1997. THE REFUNDED BONDS WERE CALLED ON JULY 1, 2007. Schedule K, Part II, Line 3 LINES 3A, 3B, 3C, 3D RESPECTIVELY TOTAL PROCEEDS OF ISSUE, INCLUDES INVESTMENT PROCEEDS OF: 2006A: $4,381; 2012: $111,166; 2019A: $3,630,915; AND 2020A: $4,464 RESPECTIVELY. Schedule K, Part I, Column (f) ISSUER NAME - DASNY, RIT SERIES 2012 LINE B (f): THE 2012 PROJECT CONSISTS OF THE CONSTRUCTION OF AN ICE ARENA, RENOVATIONS AND IMPROVEMENTS TO THE INSTITUTE OF HEALTH SCIENCE AND TECHNOLOGY, RENOVATIONS OF LABS, ACQUISITION OF UNIVERSITY COMMONS II, AND PARTIAL REFUNDING OF THE SERIES 2002B AND 2008A. Schedule K, Part II, Line 7 LINE 7B, SERIES 2012 ORIGINAL ISSUANCE COSTS FROM PROCEEDS OF $832,806 WERE ADJUSTED FOR $22,052 OF ADDITIONAL PROCEEDS. THESE PROCEEDS, ($22,052), TOGETHER WITH INVESTMENT PROCEEDS OF $111,166, ARE INCLUDED IN PART II, LINE 10B, CAPITAL EXPENDITURES FROM PROCEEDS. Schedule K, Part II, Line 7 LINE 7A, SERIES 2006A ORIGINAL ISSUANCE COSTS FROM PROCEEDS OF $469,013 WERE ADJUSTED FOR $11,428 OF UNUSED PROCEEDS. THESE PROCEEDS ($11,428), TOGETHER WITH INVESTMENT PROCEEDS OF $4,381, ARE INCLUDED IN PART II, LINE 9A, WORKING CAPITAL EXPENDITURES FROM PROCEEDS. Schedule K, Part II, Line 9 LINE 9A, SERIES 2006A WORKING CAPITAL EXPENDITURES FROM PROCEEDS REPRESENT UNUSED ORIGINAL ISSUANCE PROCEEDS OF $11,428 AND INVESTMENT PROCEEDS OF $4,381. THE INVESTMENT PROCEEDS ARE INCLUDED IN PART II, LINE 3A TOTAL PROCEEDS OF ISSUE. Schedule K, Part II, Line 11 LINE 11C, SERIES 2019A OTHER SPENT PROCEEDS INCLUDES $47,311 FOR ISSUER/DASNY FEES AND $22,622,564 FOR REFINANCING OF TAXABLE BANK LOAN. Schedule K, Part I, Column (f) ISSUER NAME - DASNY, RIT SERIES 2019A LINE C (f): THE SERIES 2019A PROJECT CONSISTS OF THE CONSTRUCTION OF THE STUDENT HALL FOR EXPLORATION AND DEVELOPMENT (SHED), RENOVATIONS TO THE LIBRARY, A NEW STUDENT MUSICAL PERFORMANCE THEATER AND REFINANCING AN OUTSTANDING TAXABLE BANK LOAN. Schedule K, Part I, Column (f) ISSUER NAME - DASNY, RIT SERIES 2020A LINE D (f): THE SERIES 2020A PROJECT CONSISTS OF REFUNDING A PORTION OF SERIES 2010 BONDS. Schedule K, Part II, Line 11 LINE 11D, SERIES 2020A OTHER SPENT PROCEEDS INCLUDES $57,029,269 TO LEGALLY DEFEASE A PORTION OF SERIES 2010 BONDS WITH A REDEMPTION DATE OF JULY 1, 2020. Schedule K, Part II, Line 7 LINE 7C, SERIES 2019A ORIGINAL ISSUANCE COSTS FROM PROCEEDS OF $647,120 WERE ADJUSTED FOR $1,082 OF UNUSED PROCEEDS, NET OF INVESTMENT EARNINGS FOR A TOTAL ADJUSTMENT OF $730. Schedule K, Part II, Line 7 LINE 7D, SERIES 2020A ORIGINAL ISSUANCE COSTS FROM PROCEEDS OF $337,475, WERE ADJUSTED FOR $9,761 OF UNUSED PROCEEDS NET OF INVESTMENT EARNINGS FOR A TOTAL ADJUSTMENT OF $4,464. Schedule K, Part IV, Line 2c COLUMN A Issuer name: DASNY, RIT SERIES 2006A The calculation for computing no rebate due was performed on 12/31/2020 Schedule K, Part IV, Line 2c COLUMN B Issuer name: DASNY, RIT SERIES 2012A The calculation for computing no rebate due was performed on 12/31/2016 19539 TUITION WAIVER GENERAL SUPPORT DEVON WATTERS FAMILY MEMBER OF OFFICER 55465 PAYMENT OF COMPENSATION false ODESSA DESPOT FAMILY MEMBER OF OFFICER 83910 PAYMENT OF COMPENSATION false MCLEAN BULMER FAMILY MEMBER OF TRUSTEE 79154 PAYMENT OF COMPENSATION false NATALIE SURACE FAMILY MEMBER OF TRUSTEE 21743 PAYMENT OF COMPENSATION false THERESE HANNIGAN FAMILY MEMBER OF OFFICER 171135 PAYMENT OF COMPENSATION false REDCOM LABORATORIES INC TRUSTEE, DINAH G WEISBERG, CEO OF REDCOM LABORATORIES, INC, WITH OWNERSHIP > 35% OF THE COMPANY 119785 REDCOM LABORATORIES, INC REPAIRED AND CALIBRATED SCIENTIFIC EQUIPMENT FOR RIT. THE CONTRACT WAS AWARDED FOLLOWING THE UNIVERSITY'S COMPETITIVE BIDDING PROCESS CONSISTENT WITH THE PROCUREMENT POLICY REQUIREMENTS. false X 1 26000 Market value X 105 10247954 Market value X Equipment 12 465778 Market value X Consumables 8 168718 Market value 2 false true true Schedule M, Part I LINES 1-28, COLUMN B THE UNIVERSITY IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. Schedule M, Part I, Line 32b Third parties used to solicit, process, or sell noncash contributions THE UNIVERSITY WILL, ON OCCASION CONTRACT WITH A THIRD PARTY FOR THE PURPOSE OF DISPOSING OF CONTRIBUTED ASSETS THAT IT DOES NOT HAVE FURTHER USE FOR AND WHICH ARE OF A SPECIALIZED NATURE. Schedule M, Part I Explanations of reporting method for number of contributions Art - Works of art - Number of contributions Securities - Publicly traded - Number of contributions Other - Equipment Number of contributions Other - Consumables Number of contributions Form 990, Part VI, Line 2 Family/business relationships amongst interested persons COMPLEMAR PARTNERS INC: SUSAN R HOLLIDAY (BOARD MEMBER) AND CHRISTINE B WHITMAN (EXECUTIVE CHAIRMAN) - Business relationship, FINANCIAL INSTITUTIONS INC (AKA FIVE STAR BANK): SUSAN HOLLIDAY (BOARD CHAIR) AND KIM VANGELDER (DIRECTOR ) - Business relationship, TOKENIZE: KEVIN SURACE (BOARD CHAIR) AND CHRISTINE WHITMAN (BOARD MEMBER) - Business relationship Form 990, Part VI, Line 11b Review of form 990 by governing body PRIOR TO FILING THE RETURN, THE PREPARED RIT FORM 990 WAS PROVIDED TO THE MEMBERS OF THE RISK AND AUDIT COMMITTEE AND SUBSEQUENTLY PRESENTED FOR REVIEW AT A REGULARLY SCHEDULED COMMITTEE MEETING. PRIOR TO FILING THE RETURN, IT WAS MADE AVAILABLE TO ALL MEMBERS OF THE BOARD OF TRUSTEES VIA A SECURED WEBSITE. Form 990, Part VI, Line 12c Conflict of interest policy THE UNIVERSITY'S CONFLICT OF INTEREST POLICY APPLIES TO ALL MEMBERS OF THE BOARD OF TRUSTEES. ALL TRUSTEES AND OFFICERS ARE REQUIRED TO DISCLOSE POTENTIAL CONFLICTS OF INTEREST AS SOON AS POSSIBLE. ADDITIONALLY, ON AN ANNUAL BASIS, THE SECRETARY OF THE UNIVERSITY DISTRIBUTES A CONFLICT OF INTEREST DISCLOSURE FORM TO ALL TRUSTEES AND OFFICERS SOLICITING DISCLOSURE OF ANY ACTUAL OR POTENTIAL CONFLICTS. FOLLOWING THE RECEIPT OF INFORMATION CONCERNING A CONTRACT OR TRANSACTION INVOLVING A POTENTIAL CONFLICT OF INTEREST, THE SECRETARY OF THE UNIVERSITY WILL ARRANGE FOR THE CONFLICT OF INTEREST SUBCOMMITTEE TO CONSIDER THE MATERIAL FACTS CONCERNING THE FAIRNESS AND BUSINESS CASE OF THE PROPOSED CONTRACT OR TRANSACTION. THE COMMITTEE SHALL APPROVE ONLY THOSE CONTRACTS OR TRANSACTIONS IN WHICH THE TERMS ARE FAIR AND REASONABLE AND THE ARRANGEMENTS ARE CONSISTENT WITH THE BEST INTERESTS OF THE UNIVERSITY. IN ANY EVENT, SUCH MEMBERS WILL NEITHER VOTE, NOR DISCHARGE THEIR DUTIES WITH RESPECT TO ANY MATTER CONCERNING A CONFLICT. THE COMMITTEE SHALL SET FORTH THE BASIS FOR ITS DECISION WITH RESPECT TO APPROVAL OF CONTRACTS OR TRANSACTIONS INVOLVING CONFLICTS OF INTEREST IN THE MINUTES OF THE MEETING AT WHICH THE DECISION IS MADE, INCLUDING THE BASIS FOR DETERMINING THAT THE CONSIDERATION TO BE PAID IS FAIR TO THE UNIVERSITY. THE INDIVIDUAL CONFLICT OF INTEREST AND COMMITMENT (ICIC) POLICY REQUIRES ALL REGULAR RIT FACULTY AND STAFF TO DISCLOSE POTENTIAL, REAL, OR PERCEIVED CONFLICTS OF INTEREST OR COMMITMENT ANNUALLY TO THEIR IMMEDIATE SUPERVISOR. ADDITIONALLY, THE ICIC POLICY REQUIRES THAT EMPLOYEES SUBMIT AN ANNUAL DISCLOSURE AND/OR A DISCLOSURE WHEN CIRCUMSTANCES CHANGE THAT MAY CREATE A POTENTIAL, REAL, OR PERCEIVED CONFLICT. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE EXECUTIVE COMPENSATION COMMITTEE SHALL DECIDE UPON MATTERS OF EXECUTIVE SALARY AND BENEFITS, AND ANNUALLY SHALL REVIEW THE COMPENSATION OF THE OFFICERS OF THE UNIVERSITY, MAKING A RECOMMENDATION CONCERNING THE SAME TO THE EXECUTIVE COMMITTEE FOR ITS FINAL APPROVAL. THE PRESIDENT ANNUALLY WILL MEET WITH THE EXECUTIVE COMPENSATION COMMITTEE AND PROVIDE IT WITH AN EVALUATION OF THE OFFICERS OF THE UNIVERSITY OTHER THAN THE PRESIDENT, AND A PROPOSAL FOR THEIR COMPENSATION. THE CHAIR OF THE BOARD OF TRUSTEES ANNUALLY WILL MEET WITH THE EXECUTIVE COMPENSATION COMMITTEE AND PROVIDE IT WITH AN EVALUATION OF THE PRESIDENT AND A PROPOSAL FOR THE PRESIDENT'S COMPENSATION. BIENNIALLY THE EXECUTIVE COMPENSATION COMMITTEE UTILIZES VARIOUS TOOLS TO REVIEW THE COMPENSATION FOR THE OFFICERS: INDEPENDENT CONSULTANT AND COMPENSATION SURVEY BASED ON A SALARY ANALYSIS OF COMPARABLE POSITIONS IN LIKE CIRCUMSTANCES. Form 990, Part VI, Line 15b Process to establish compensation of other employees THE EXECUTIVE COMPENSATION COMMITTEE REVIEWS THE PROPOSED SALARIES OF THE FOLLOWING POSITIONS: PRESIDENT; PROVOST AND SVP ACADEMIC AFFAIRS; SVP FINANCE AND ADMINISTRATION; VP ENROLLMENT MANAGEMENT & ASSOC PROVOST; VP RESEARCH; VP UNIVERSITY ADVANCEMENT; SVP STUDENT AFFAIRS; PRESIDENT NTID & VP AND DEAN RIT; VP GOVT AND COMMUNITY RELATIONS; VP CHIEF MARKETING OFFICER; VP & GENERAL COUNSEL; VP & SECRETARY OF THE INSTITUTE; AND VP & ASSOC PROVOST FOR DIVERSITY & INCLUSION. THE EXECUTIVE COMPENSATION COMMITTEE SHALL SET FORTH THE BASIS FOR ITS DECISIONS WITH RESPECT TO COMPENSATION IN THE MINUTES OF THE MEETING AT WHICH THE DECISIONS ARE MADE, INCLUDING THE PRIMARY CONCLUSIONS OF THE EVALUATION AND THE BASIS FOR DETERMINING THAT THE INDIVIDUAL'S COMPENSATION WAS REASONABLE IN LIGHT OF THE EVALUATION AND COMPARABILITY DATA. THE EXECUTIVE COMPENSATION COMMITTEE REPORTS ANNUALLY TO THE FINANCE COMMITTEE AND TO THE FULL BOARD CONCERNING THE EVALUATION OF OFFICERS AND THE ESTABLISHMENT OF THEIR COMPENSATION. Form 990, Part VI, Line 19 Required documents available to the public THE FOLLOWING DOCUMENTS ARE AVAILABLE AT THE UNIVERSITY'S WEBSITE AT WWW.RIT.EDU: 1) LIST OF MEMBERS OF THE BOARD OF TRUSTEES; 2) CONSOLIDATED AUDITED FINANCIAL STATEMENTS; AND 3) UNIVERSITY POLICY AND PROCEDURES INFORMATION AND RESOURCES. ADDITIONALLY, THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. Form 990, Part VII, Section A LINE 17 CHRISTINE M LICATA: FORMER INTERIM PROVOST: RESIGNED PREVIOUS POSITION OF INTERIM PROVOST ON AUGUST 18, 2018 AND IS NOW VICE PROVOST FOR ACADEMIC AFFAIRS. Form 990, Part VII, Section A LINE 20 KATHERINE J MAYBERRY: FORMER VP FOR STRATEGIC PLANNING AND SPECIAL INITIATIVES: RESIGNED FROM THAT POSITION ON JUNE 30, 2019 AND WAS THE SENIOR ADVISOR FOR STUDENT DIVERSITY OUTREACH, ENROLLMENT AND RETENTION UNTIL SHE RETIRED ON JUNE 30, 2022. Form 990, Part VII, Section A LINE 21 KAREN A BARROWS: FORMER SECRETARY OF THE INSTITUTE AND CHIEF OF STAFF: RESIGNED PREVIOUS POSITION OF SECRETARY OF THE INSTITUTE ON MARCH 9, 2020 AND IS NOW CHIEF OF STAFF. Form 990, Part VIII, Line 2f Other Program Service Revenue All other Program Services Revenue - Total Revenue: 9113449, Related or Exempt Function Revenue: 8684714, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 428735; Form 990, Part VIII, Line 11d Other Miscellaneous Revenue Other - Total Revenue: 1927121, Related or Exempt Function Revenue: 1211037, Unrelated Business Revenue: 308106, Revenue Excluded from Tax Under Sections 512, 513, or 514: 407978; 5257 W HENRIETTA ROAD LLC 5257 W HENRIETTA RD HENRIETTA NY 14586 161609483 OWN REAL PROPERTY NY 5352795 23661167 ROCHESTER INSTITUTE OF TECHNOLOGY MAGIC SPELL STUDIOS LLC ONE LOMB MEMORIAL DRIVE ROCHESTER NY 14623 464163650 DIGITAL RESEARCH CENTER NY 55571 0 ROCHESTER INSTITUTE OF TECHNOLOGY RIT VENTURE FUND I LLC 5 LOMB MEMORIAL DRIVE ROCHESTER NY 14623 455183880 INVESTMENTS DE 31695 206174 ROCHESTER INSTITUTE OF TECHNOLOGY RIT VF ARC HOLDINGS LLC RIT-GEORGE EASTMAN HALL-6TH FL 7 LOMB MEMORIAL DRIVE ROCHESTER NY 14623 455183880 INVESTMENTS NY -39563 0 RIT Venture Fund I LLC RIT GLOBAL DELIVERY CORPORATION 7 LOMB MEMORIAL DRIVE ROCHESTER NY 14623 201151703 EDUCATIONAL PURPOSES NY 501(c)(3) 11 ROCHESTER INSTITUTE OF TECHNOLOGY false RIT CAMPUS CLUB INC 39 LOMB MEMORIAL DRIVE ROCHESTER NY 14623 161201526 SUPPORT RIT NY 501(c)(3) 11 ROCHESTER INSTITUTE OF TECHNOLOGY false true false false false false false false false false false false true false false false false false true true RIT CAMPUS CLUB INC A 604328 RIT CAMPUS CLUB INC L 1691644 RIT CAMPUS CLUB INC R 582127 RIT GLOBAL DELIVERY CORPORATION S 907542 Schedule R, Part I, Column (a) MAGIC SPELL STUDIOS LLC THE DISSOLUTION OF MAGIC SPELL STUDIOS LLC, A DISREGARDED ENTITY OF ROCHESTER INSTITUTE OF TECHNOLOGY, WAS EFFECTIVE DECEMBER 31, 2021. THE DISREGARDED ENTITY INCURRED REVENUE DURING THE TAX YEAR PRIOR TO DISSOLUTION. THE DISREGARDED ENTITY DID NOT HAVE ASSETS AS OF THE END OF THE TAX YEAR. Schedule R, Part I, Column (a) RIT VF ARC HOLDINGS LLC RIT V ARC HOLDINGS LLC, A DISREGARDED ENTITY OF RIT VENTURE FUND I LLC, FILED ARTICLES OF INCORPORATION ON NOVEMBER 16, 2021.