2025-05-14T10:14:04-05:00 2024-06-30 540504608 BROWN EDWARDS & COMPANY LLP 105 ARBOR DRIVE 3RD FLOOR CHRISTIANSBURG VA 24073 990 2023-07-01 221487164 DREW UNIVERSITY DREW 9734083000 36 MADISON AVENUE MADISON NJ 07940 HILARY LINK PRESIDENT 9734083501 2025-05-13 1 1 MARK WOOLWINE P00647446 5404433606 2025-05-13 2023 2025-03-06 01:10:19Z HILARY LINK 36 MADISON AVENUE MADISON NJ 07940 148543181 0 X DREW.EDU X 1868 NJ THE UNIVERSITY OFFERS GRADUATE AND UNDERGRADUATE STUDIES AND IS COMPRISED OF THE COLLEGE OF LIBERAL ARTS, THE THEOLOGICAL SCHOOL, AND THE CASPERSEN SCHOOL OF GRADUATE STUDIES. 20 19 1454 20 0 0 10248872 11632352 98054199 101868640 861157 762267 3007172 2986635 112171400 117249894 38772509 44172121 0 0 40994999 43035000 0 0 4735806 50323951 51098745 130091459 138305866 -17920059 -21055972 233007198 220552834 90900526 91788803 142106672 128764031 X DREW UNIVERSITY, A PHI BETA KAPPA LIBERAL ARTS UNIVERSITY, INCLUDES THE COLLEGE OF LIBERAL ARTS, THE DREW THEOLOGICAL SCHOOL, AND THE CASPERSEN SCHOOL OF GRADUATE STUDIES. CONTINUED ON SCHEDULE O. 0 0 81860900 37491527 79339781 THE DREW UNIVERSITY COLLEGE OF LIBERAL ARTS AFFIRMS A COMMITMENT TO ITS FOUNDING VISION TO OFFER ITS STUDENTS A LIBERAL ARTS EDUCATION OF THE HIGHEST QUALITY THROUGH A RIGOROUS COURSE OF STUDY. THE COLLEGE CHALLENGES STUDENTS TO EXPLORE THE ARTS, NATURAL SCIENCES, SOCIAL SCIENCES,HUMANITIES, AND INTERDISCIPLINARY FIELDS IN DEPTH AND TO DEVELOP THEIR CAPACITIES FOR CRITICAL THOUGHT, PROBLEM SOLVING, EFFECTIVE COMMUNICATION, CREATIVITY, SELF DISCIPLINE, AND EMPATHY. AS THE COLLEGE PREPARES STUDENTS FOR ACADEMIC AND PROFESSIONAL ACHIEVEMENT, IT PROVIDES THEM WITH ESSENTIAL SKILLS FOR LIVING AND CONTINUING TO LEARN AND TO GROW IN AN INCREASINGLY DIVERSE AND COMPLEX WORLD. 12305795 4317798 5113202 DREW THEOLOGICAL SCHOOL EMPOWERS LEADERSHIP FOR A GLOBAL CHRISTIANITY OF JUSTICE, ECUMENISM, AND THE INTEGRITY OF CREATION. ITS PASTORAL, SPIRITUAL, AND CONCEPTUAL DISCIPLINES GROW WITHIN AN INTIMATE LITURGICAL AND COMMUNAL CONTEXT, ONE THAT SUSTAINS MULTIPLE RELATIONS OF DIFFERENCE. THROUGH ITS PARTICULAR HISTORICAL COMMITMENTS TO AFRICAN, ASIAN, AFRICAN-AMERICAN, HISPANIC, AND WOMEN'S MINISTRIES, THE THEOLOGICAL SCHOOL REMAINS FAITHFULLY ROOTED IN ITS METHODIST HERITAGE. DREW NURTURES CHRISTIAN PRACTICES THROUGH VITAL PARTNERSHIP WITH LOCAL CHURCHES AND INTERNATIONAL NETWORKS OF EDUCATION. TRANS-DISCIPLINARY INTERPRETATION OF TEXT, TRADITION, AND EXPERIENCE ENERGIZES ITS SCHOLARLY VIGOR. DREW ENGENDERS THEOLOGIES RESPONSIBLE TO THE COMPLEX REALITIES OF AN INTERCONNECTED WORLD. INTO THAT WORLD, DREW SENDS PASTORS, PREACHERS AND PROPHETS, DEACONS, ACTIVISTS, AND TEACHERS. 4002606 1353887 4048224 THE CASPERSEN SCHOOL OF GRADUATE STUDIES WAS FOUNDED ON THE PRINCIPLE OF THE IMPORTANCE OF INTERDISCIPLINARY STUDY IN THE HUMANITIES. THE GOAL OF THE SCHOOL'S FOUNDERS WAS TO FOSTER BROADLY EDUCATED PEOPLE WHO HAVE EXPERTISE IN A FIELD OF THOUGHT BUT WHO ARE ALSO FAMILIAR WITH AND ARTICULATE IN A RANGE OF HUMANISTIC STUDIES. THIS MISSION CONTINUES TO DISTINGUISH THE CASPERSEN SCHOOL AMONG INSTITUTIONS WITH DOCTORAL PROGRAMS IN THE HUMANITIES. OUR INTENT IS TO TRAIN PERSONS WHO ARE PROPERLY PREPARED NOT ONLY IN SPECIFIC RECOGNIZED FIELDS BUT ALSO ININTERDISCIPLINARY DIALOGUE. WE CELEBRATE THE JOY OF LEARNING AS WE PREPARE ABLE, WELL INFORMED GRADUATES WHO PURSUE CAREERS IN HIGHER EDUCATION, IN THE RELIGIOUS AND MEDICAL COMMUNITIES, AND IN THE BROADER INTELLECTUAL WORLD. AS SUCH, WE ARE WELL POSITIONED TO MEET THE INCREASING CALL FOR INTERDISCIPLINARY APPROACHES BOTH IN THE ACADEMY AND IN THE WIDER WORLD. INTEGRAL TO OUR MISSION IS ENCOURAGING OUR FACULTY AND STUDENTS ALIKE TO PURSUE CREATIVE RESEARCH IN THE HUMANITIES AND TO MAKE THE RESULTS OF THEIR WORK AVAILABLE THROUGH TEACHING, PARTICIPATION IN SCHOLARLY MEETINGS, VARIOUS FORMS OF PUBLICATION AND INTELLECTUAL DISCOURSE; TO THAT END WE CONTINUE TO EXPLORE NEW POSSIBILITIES OF ENHANCING INTERDISCIPLINARY STUDIES IN THE HUMANITIES. 15621820 1008909 15293184 OTHER PROGRAM EXPENSES REFLECT EDUCATIONAL PROGRAM EXPENSES NOT DIRECTLY RELATED TO ONE OF THE SCHOOLS DESCRIBED ABOVE. IT INCLUDES AN ALLOCATED METHOD OF PROGRAM, AUXILIARY, AND STUDENT SERVICE EXPENSES. OTHER PROGRAM ACTIVITIES ALSO INCLUDE EXPENSES AND REVENUES FROMTHE UNIVERSITY'S CONTINUING EDUCATION AND SUMMER PROGRAMS. 15621820 1008909 15293184 113791121 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 197 0 1 1454 1 1 1 1 CJ 0 0 0 0 0 0 0 0 0 0 X 20 19 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 1 0 X THE ORGANIZATION 9734083000 36 MADISON AVENUE MADISON NJ 07940 WILLIAM W LANDIS III CHAIR 1.00 X X 0 0 0 FREDRICK FUEST VICE CHAIR 1.00 X X 0 0 0 ANGELA GERKEN VICE CHAIR AND SECRETARY 1.00 X 0 0 0 BISHOP THOMAS J BRICKERTON TRUSTEE 1.00 X 0 0 0 SCOTT BURR TRUSTEE 1.00 X 0 0 0 EMILY MUSIL TRUSTEE 1.00 X 0 0 0 DEAN T CRIARES TRUSTEE 1.00 X 0 0 0 ALFRED T DAY III TRUSTEE 1.00 X 0 0 0 SANG WON DOH TRUSTEE 1.00 X 0 0 0 D STUART DUNNAN TRUSTEE 1.00 X 0 0 0 ROBERT FRANEK TRUSTEE 1.00 X 0 0 0 GREGORY GORDON TRUSTEE 1.00 X 0 0 0 MICHELLE HAMPTON TRUSTEE 1.00 X 0 0 0 JUSTIN MARCUCCI TRUSTEE 1.00 X 0 0 0 RYAN M MASON TRUSTEE 1.00 X 0 0 0 JOSEPH C NOTO TRUSTEE 1.00 X 0 0 0 BISHOP JOHN SCHOL TRUSTEE 1.00 X 0 0 0 VANESSA L VAN BRUNT TRUSTEE 1.00 X 0 0 0 SUNEET VARMA TRUSTEE 1.00 X 0 0 0 PETER ZANGARI TRUSTEE 1.00 X 0 0 0 HILARY L LINK PRESIDENT 35.00 X X 469200 0 50888 BRET D SILVER VICE PRESIDENT, UNIVERSITY ADVANCEMENT 35.00 X 423188 0 37470 JESSICA LAKIN PROVOST 35.00 X 238703 0 41267 FRANK MERCK VP FOR CAMPUS LIFE 35.00 X 203294 0 30535 GREGORY SMITH VP FOR FACILITIES & REAL ESTATE 35.00 X 206618 0 17862 LOUISE HOOD ASSISTANT VP, ADVANCEMENT 35.00 X 223785 0 21379 EDWIN APONTE DEAN 35.00 X 187975 0 24502 CAITLIN TRAMEL ASSISTANT VP, ADVANCEMENT 35.00 X 196682 0 10226 RYAN HINRICHS DEAN 35.00 X 167749 0 38471 THOMAS J SCHWARZ RETIRED PRESIDENT 0.00 X 500000 0 0 2817194 0 272600 77 0 1 0 ARAMARK HIGHER EDUCATION 2400 MARKET STREET PHILADELPHIA PA 19103 FOOD SERVICE 1007484 BDO USA LLP 300 PATTERSON AVE SE SUITE 100 GRAND RAPIDS MI 49512 ACCOUNTING SERVICES 485852 HANOVER MARRIOTT 1401 NJ-10 E WHIPPANY NJ 07981 CONFERENCE AND ROOMS CONTRACT 393254 GREATER TALENT NETWORK LLC 437 5TH AVENUE SUITE 8A NEW YORK NY 10016 SPEAKERS 175678 EAB GLOBAL INC 2445 M STREET NW WASHINGTON DC 20037 MARKETING AND ENROLLMENT SERVICES 173513 10 2616635 9015717 832717 11632352 TUITION AND FEES 611310 77854645 77854645 AUXILIARY INCOME 721310 24013995 24013995 101868640 525729 525729 31529825 31293287 236538 236538 236538 OTHER REVENUE 900099 1244366 1244366 ENDOWMENT TRUST INCOME 900099 1060884 1060884 INTO DREW PROGRAM FEES 900099 419576 419576 261809 261809 2986635 117249894 103794391 0 1823151 44172121 44172121 1541003 1353323 93840 93840 31855997 24799677 4733590 2322730 1878502 1489860 252944 135698 5372514 4260998 723419 388097 2386984 1893142 321412 172430 342567 342567 63517 63517 589745 589745 5484646 562000 4018368 904278 1372000 683000 552084 136916 377000 201000 147200 28800 4114000 842000 3135523 136477 11286000 9180000 1982371 123629 377000 341000 31498 4502 769000 555000 21400 192600 4967000 4868000 99000 7559000 7030000 529000 1315000 1315000 FOOD EXPENSES 6879000 6609000 270000 0 MISCELLANEOUS 2881270 2490000 363630 27640 TUITION FOR STUDY ABROA 818000 818000 0 0 LIBRARY MATERIALS 689000 689000 0 0 1215000 954000 192831 68169 138305866 113791121 19778939 4735806 760065 2389398 301982 235008 602433 988471 2976294 1346226 161680 43910 165835 165835 1080257 739780 327897528 211334925 120337428 116562603 28164543 24341367 75718017 70294982 2738664 3445254 233007198 220552834 10000486 12439045 6598259 6122028 68538528 68322556 1020593 4742660 4905174 90900526 91788803 X -46668000 -65674000 188774672 194438031 142106672 128764031 233007198 220552834 X -21055972 6027478 1685853 X X 0 1 X 1 1 1 X 7168646 12947400 15278911 10248872 11632352 57276181 7168646 12947400 15278911 10248872 11632352 57276181 1238594 56037587 606142 519976 650064 681670 525729 2983581 1744521 1280885 1523352 2753367 2724826 10026951 70286713 472353433 0.79730 0.76890 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 128610000 410000 6200000 8507000 126713000 130757000 1539000 6310000 9996000 128610000 141394000 1800000 -6793000 5644000 130757000 151122000 3709000 15304000 3741000 25000000 141394000 165823000 706000 -7297000 8110000 151122000 0.00000 0.71950 0.28050 1 0 451313 451313 264062631 171757890 92304741 48708501 30148368 18560133 14675083 9428667 5246416 116562603 PERPETUAL TRUSTS HELD BY THIRD PARTIES 19973356 C POOLED INCOME FUNDS 4270760 C BOND PROCEEDS HELD BY TRUSTEES 3436358 C ALTERNATIVE INVESTMENTS 42613932 C INVESTMENT - REAL ESTATE 576 C 70294982 STUDENT SECURITY DEPOSITS 672276 FEDERAL STUDENT LOAN FUNDS 251662 ANNUITY LIABILITY 713698 ASSET RETIREMENT OBLIGATIONS 3267538 4905174 X 80198307 6027478 -42489320 -36461842 116660149 589745 589745 117249894 93543811 0 93543811 589745 44172310 44762055 138305866 PART V, LINE 4: ENDOWMENT FUNDS ARE TO BE HELD IN PERPETUITY AND TO PROVIDE FOR THE GENERATION OF INVESTMENT INCOME THROUGH STRATEGIC INVESTING AS APPROVED BY THE BOARD OF TRUSTEES INVESTMENT COMMITTEE. THIS INVESTMENT INCOME IS USED TO PROVIDE SUPPORT OF THE UNIVERSITY'S MISSION STATEMENT, COMMENSURATE WITH THE DONOR AND BOARD SPECIFIC INSTRUCTIONS ON HOW THE FUNDS ARE TO BE USED. PART X, LINE 2: DREW UNIVERSITY AND ITS WHOLLY-OWNED AFFILIATE, UHP, ARE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. THERE ARE CERTAIN TRANSACTIONS THAT COULD BE DEEMED UNRELATED BUSINESS INCOME AND WOULD RESULT IN A TAX LIABILITY. MANAGEMENT REVIEWS TRANSACTIONS TO ESTIMATE POTENTIAL TAX LIABILITIES USING A THRESHOLD OF MORE LIKELY THAN NOT. IT IS MANAGEMENT'S ESTIMATION THAT THERE ARE NO MATERIAL TAX LIABILITIES THAT NEED TO BE RECORDED. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGES IN FAIR VALUE OF TRUSTS, POOLED INCOME FUND AND GIFT ANNUITIES 1,683,477. POSTRETIREMENT RELATED CHANGES OTHER THAN NET PERIODIC POSTRETIREMENT COST SCHOLARSHIPS NETTED ON FINANCIAL STATEMENTS -44,172,121. ROUNDING -676. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED ON FINANCIAL STATEMENTS 44,172,121. ROUNDING 189. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE UNIVERSITY HAS PUBLICIZED ITS NON-DISCRIMINATORY POLICY THROUGH RECRUITING MATERIALS SENT TO STUDENTS. THE UNIVERSITY'S AFFIRMATIVE ACTION/EEO POLICY IS AS FOLLOWS: DREW UNIVERSITY IS COMMITTED TO SEEKING ACADEMIC EXCELLENCE WHILE STRIVING CONTINUOUSLY TO BE A WELCOMING, DIVERSE, AND SOCIALLY-JUST CAMPUS. WE ASPIRE TO PROVIDE AN EDUCATION THAT IN CONTENT, SCOPE, AND PEDAGOGY EMBRACES DIFFERENCE AND PROMOTES RESPECT THAT EXTENDS BEYOND THE CLASSROOM TO ALL UNIVERSITY SPACES AND TO LOCAL AND GLOBAL COMMUNITIES. DIVERSITY ENCOMPASSES MULTIPLE DIMENSIONS, INCLUDING, BUT NOT LIMITED TO, RACE, CULTURE, NATIONALITY, ETHINICITY, GEOGRAPHIC ORIGIN, CLASS, SEXUAL ORIENTATION, GENDER, DISABILITIES, AGE, AND RELIGION. CONTINUED ON SCHEDULE "O". SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVED FUNDS FROM THE FEDERAL GOVERNMENT AND STATE OF NEW JERSEY IN THE FORM OF FEDERAL PELL GRANTS, FEDERAL WORK STUDY PROGRAMS, AND FEDERAL DIRECT LOAN PROGRAMS (ALL OF WHICH FALL UNDER STUDENT ASSISTANCE). ADDITIONALLY, THE UNIVERSITY RECEIVED FUNDS FROM VARIOUS RESEARCH AND DEVELOPMENT FUNDS SUCH AS NATIONAL SCIENCE FOUNDATION, NATIONAL AERONAUTICS AND SPACE ADMINISTRATION, AND THE DEPARTMENT OF HEALTH AND HUMAN SCIENCES. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, INVESTMENTS 11627586 EUROPE (INCLUDING ICELAND & GREENLAND) INVESTMENTS 4187855 0 0 0 0 0 0 15815441 0 15815441 0 0 0 0 0 0 1 SCHOLARSHIPS & FINANCIAL AID 1889 44172121 PART I, LINE 2: DREW UNIVERSITY GRANTED FUNDS TO STUDENTS IN THE FORM OF SCHOLARSHIPS, FELLOWSHIPS, STUDENT LOANS, AS WELL AS OTHER FINANCIAL AID. FINANCIAL AID IS GRANTED TO STUDENTS BASED ON ELIGIBILITY GUIDELINES AS DEFINED BY THE FEDERAL DEPARTMENT OF EDUCATION AS WELL AS THE STATE OF NEW JERSEY. IF A STUDENT IS NOT ELIGIBLE TO RECEIVE FEDERAL OR STATE BASED FINANCIAL AID, THE AID WILL NOT BE APPLIED TO THE STUDENT'S ACCOUNT. IN ADDITION, DREW UNIVERSITY GRANTS FUNDS TO STUDENTS IN THE FORM OF INSTITUTIONAL AID BASED ON MERIT AND NEED CRITERIA. X 1 1 X X X 0 0 0 0 0 0 0 0 0 HILARY L LINK PRESIDENT 450000 0 0 0 19200 0 23539 0 27349 0 520088 0 0 0 THOMAS J SCHWARZ RETIRED PRESIDENT 500000 0 0 0 0 0 0 0 0 0 500000 0 0 0 BRET D SILVER VICE PRESIDENT, UNIVERSITY ADVANCEME 335000 0 75000 0 13188 0 17523 0 19947 0 460658 0 0 0 JESSICA LAKIN PROVOST 238703 0 0 0 0 0 12486 0 28781 0 279970 0 0 0 LOUISE HOOD ASSISTANT VP, ADVANCEMENT 222789 0 0 0 996 0 11654 0 9725 0 245164 0 0 0 FRANK MERCK VP FOR CAMPUS LIFE 202418 0 0 0 876 0 10588 0 19947 0 233829 0 0 0 GREGORY SMITH VP FOR FACILITIES & REAL ESTATE 205550 0 0 0 1068 0 10752 0 7110 0 224480 0 0 0 EDWIN APONTE DEAN 187975 0 0 0 0 0 9832 0 14670 0 212477 0 0 0 CAITLIN TRAMEL ASSISTANT VP, ADVANCEMENT 195494 0 0 0 1188 0 10226 0 0 0 206908 0 0 0 RYAN HINRICHS DEAN 166561 0 0 0 1188 0 8712 0 29759 0 206220 0 0 0 PART I, LINE 1A THE UNIVERSITY PROVIDES A RESIDENCE ON CAMPUS WHEN THE DUTIES AND RESPONSIBILITES OF THE EMPLOYEE REQUIRE THEIR SERVICES ON A 24-HOUR BASIS THROUGHOUT THE YEAR. THIS BENEFIT IS PROVIDED ON A NON-TAX BASIS AS A CONDITION OF THEIR EMPLOYMENT IN ORDER FOR THEM TO ACCOMPLISH THEIR REQUIRED AND CONTINUOUS DUTIES AND RESPONSIBILITIES ON CAMPUS. THIS BENEFIT IS PROVIDED TO THE FOLLOWING INDIVIDUALS: - FRANK MERCKX - GREG SMITH - THOMAS SCHWARZ (A HOUSE IS PROVIDED FOR THOMAS SCHWARZ BUT NOT LIVED IN). A NJ EDU FAC AUTH 2014B - CIF 221829511 6946066DG 2014-04-29 19369367 SEE PART VI 0 0 0 B NJ EDU FAC AUTH 2016B - CIF 221829511 2016-07-01 488834 SEE PART VI 0 0 0 C MORRIS COUNTY IMPROVEMENT AUTHORITY 226002462 61802PAA4 2017-12-15 83515000 SEE PART VI 0 0 0 A 2274729 3203000 3203000 2015 0 1 0 1 B 116845 488834 488834 2018 0 0 0 1 C 9725000 76191570 3302630 4139219 1446622 574492 6680609 52221152 106390 0 1 0 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 C 0 0 0 0 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 C 0 1 0 0 0 0 0 0 1 A 1 B 1 C 1 X 1 1195 FMV X 29 827099 AVERAGE PRICE X SUPPLIES, FOOD AND EVENT TICKETS 15 4423 FMV 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS REVIEWED BY THE AUDIT AND RISK MANAGEMENT COMMITTEE. THE FORM 990 IS MADE AVAILABLE TO ALL TRUSTEES UPON REQUEST PRIOR TO ITS FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL DECISIONS OF THE BOARD OF TRUSTEES, OFFICERS, AND EMPLOYEES OF DREW UNIVERSITY ARE TO BE MADE SOLELY ON THE BASIS OF A DESIRE TO PROMOTE THE BEST INTERESTS OF THE UNIVERSITY. IT IS, THEREFORE, THE POLICY OF THE BOARD AND THE UNIVERSITY THAT: (1) ALL ACTIVITIES OR BEHAVIOR WHICH CONFLICT WITH THE BEST INTERESTS OF THE UNIVERSITY ARE PROHIBITED. THIS COULD INCLUDE BUT WOULD NOT BE LIMITED TO (A) USE OF UNIVERSITY RESOURCES - FOR A UNIVERSITY TRUSTEE, OFFICER, OR EMPLOYEE TO MAKE IMPROPER USE OF ANY UNIVERSITY RESOURCES, INCLUDING THE SERVICES OF UNIVERSITY EMPLOYEES, FOR HIS OR HER OWN PERSONAL BENEFIT, (B) COMPLIANCE WITH RULES - FOR A UNIVERSITY TRUSTEE, OFFICER, OR EMPLOYEE TO FAIL TO COMPLY WITH THE UNIVERSITY'S DULY ESTABLISHED RULES, REGULATIONS, OR STANDARDS OF PERSONAL BEHAVIOR (C) DISCLOSURE OF CONFIDENTIAL INFORMATION - FOR A UNIVERSITY TRUSTEE, OFFICER, OR EMPLOYEE, WITHOUT PROPER AUTHORITY, TO GIVE OR RELEASE TO ANYONE NOT AUTHORIZED TO RECEIVE SUCH INFORMATION, ANY DATA OF A CONFIDENTIAL NATURE SECURED THROUGH HIS OR HER RELATIONSHIP TO THE UNIVERSITY (D) ACCEPTANCE OF GIFTS - FOR A UNIVERSITY TRUSTEE, OFFICER OR EMPLOYEE, OR ANY DEPENDENT MEMBER OF HIS OR HER IMMEDIATE FAMILY TO ACCEPT FROM ANY ORGANIZATION OR PERSON THAT THEY KNOW TO BE DOING OR SEEKING TO DO BUSINESS WITH THE UNIVERSITY, A LOAN OR A GIFT OR FAVOR OF MORE THAN NOMINAL VALUE. THIS PARAGRAPH SHALL NOT BE DEEMED TO PROHIBIT LOANS MADE IN THE NORMAL COURSE OF BUSINESS WITH THE TERMS STANDARD FOR SUCH LOANS FROM BANKS OR FINANCIAL INSTITUTIONS THAT MAY HAVE OR EXPECT TO HAVE RELATIONS WITH THE UNIVERSITY (E) COMPETITION WITH THE UNIVERSITY - FOR A UNIVERSITY TRUSTEE OR OFFICER, DIRECTLY OR THROUGH A CORPORATION IN WHICH HE OR SHE HAS A SUBSTANTIAL INTEREST, TO ENGAGE IN, FOR REMUNERATION, ANY OTHER ACTIVITY WHICH IS IN DIRECT COMPETITION WITH THE UNIVERSITY, EXCEPT WITH THE KNOWLEDGE AND WRITTEN CONSENT OF THE PRESIDENT OR THE PRESIDENT'S DESIGN EE. IF THE ACTIVITY IS THAT OF THE PRESIDENT, SUCH CONSENT MUST BE GIVEN BY THE CHAIR OF THE BOARD. (2) INVOLVING THE UNIVERSITY AND A MEMBER OF THE BOARD OR ANY OFFICER OF THE UNIVERSITY (OR A MEMBER OF HIS OR HER IMMEDIATE FAMILY), OR AN ORGANIZATION WITH WHICH A MEMBER OF THE BOARD OR ANY OFFICER OF THE UNIVERSITY IS "AFFILIATED," SUCH TRUSTEE OR OFFICER, AS SOON AS HE OR SHE HAS KNOWLEDGE OF THE TRANSACTION, SHALL (A) DISCLOSE FULLY THE PRECISE NATURE OF HIS OR HER INTEREST OR INVOLVEMENT IN SUCH TRANSACTION AND/OR SUCH ORGANIZATION, AND (B) REFRAIN FROM PARTICIPATION IN THE UNIVERSITY'S CONSIDERATION OF THE PROPOSED TRANSACTION FOR THE PURPOSES OF THIS CONFLICT OF INTEREST POLICY, A TRUSTEE OR OFFICER IS "AFFILIATED" WITH ANY ORGANIZATION OF WHICH HE OR SHE (OR A MEMBER OF HIS OR HER IMMEDIATE FAMILY) IS AN EMPLOYEE, GENERAL PARTNER, MEMBER OF THE BOARD OF DIRECTORS, TRUSTEE, OR IN WHICH HE OR SHE (OR A MEMBER OF HIS OR HER IMMEDIATE FAMILY) OWNS 10% OR MORE OF THE OUTSTANDING STOCK. (3) THAT THE FOLLOWING PERSONS DISCLOSE TO THE UNIVERSITY ON A CONTINUING BASIS ALL THEIR RELATIONSHIPS AND BUSINESS AFFILIATIONS THAT REASONABLY COULD GIVE RISE TO A CONFLICT OF INTEREST, OR THE APPEARANCE OF A CONFLICT OF INTEREST, INVOLVING THE UNIVERSITY - THE TRUSTEES (INCLUDING THE PRESIDENT), THE VICE PRESIDENTS OF THE UNIVERSITY, THE DEANS, AND SUCH OTHER OFFICERS AS THE PRESIDENT SHALL DESIGNATE AS BEING OFFICERS FROM WHOM, BECAUSE OF THEIR RESPECTIVE DUTIES AND RESPONSIBILITIES, THE UNIVERSITY SHOULD RECEIVE A CONTINUING DISCLOSURE OF SUCH OUTSIDE RELATIONSHIPS AND BUSINESS AFFILIATIONS. ALL DISCLOSURES REQUIRED TO BE MADE HEREUNDER MUST BE DIRECTED IN WRITING TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES WHICH SHALL HAVE, WITH THE ASSISTANCE OF THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION, THE RESPONSIBILITY FOR MONITORING OF THIS POLICY, INCLUDING THE ADMINISTRATION AND ENFORCEMENT THEREOF. THE EXECUTIVE COMMITTEE SHALL BE ADVISED IMMEDIATELY OF ANY DISPUTES OR OTHER ISSUES ARISING OUT OF THE APPLICATION OF THIS POLICY SO THAT IT CAN DETERMINE WHAT, IF ANY, ACTION IS APPROPRIATE.ADDITIONALLY ALL MEMBERS OF THE BOARD OF TRUSTEES, OFFICERS, AND KEY EMPLOYEES ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE STATEMENT ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION FOR THE PRESIDENT, OTHER OFFICERS, AND KEY EMPLOYEES IS DETERMINED BY THE DREW BOARD OF TRUSTEES ON THE RECOMMENDATION OF THE BOARD'S EXECUTIVE COMPENSATION COMMITTEE. NO INDIVIDUALS WITH A CONFLICT OF INTEREST MAY BE INVOLVED IN THE COMPENSATION DETERMINATION PROCESS. COMPARABILITY DATA FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILAR ORGANIZATIONS IS PREPARED BY THE ORGANIZATION AND REVIEWED BY THE BOARD'S EXECUTIVE COMPENSATION COMMITTEE. THE MINUTES OF THE BOARD OF TRUSTEES AND ITS EXECUTIVE COMPENSATION COMMITTEE DOCUMENT THE BOARD'S AND COMMITTEE'S DELIBERATIONS AND DECISIONS REGARDING COMPENSATION. COMPENSATION REVIEWS TAKE PLACE IN MAY OF EACH YEAR. THE BENCHMARK DATA IS DERIVED FROM A CUSTOM REPORT OF ABOUT 68 INSTITUTIONS THAT ARE SIMILAR TO DREW IN SIZE, SCOPE, AND OPERATING BUDGET. MEAN AND MEDIAN SALARIES FOR POSITIONS THAT ARE COMPARABLE TO DREW'S ADMINISTRATIVE OFFICERS ARE DERIVED FROM THE DATA PROVIDED BY CUPA AND USED TO DETERMINE THE BENCHMARK. THE BENCHMARK IS USED BY THE COMMITTEE TO DETERMINE THE APPROPRIATENESS OF CURRENT SALARIES, SALARY INCREASES, AND SALARIES OF NEW EXECUTIVE HIRES. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF TRUSTS 1,683,477. POSTRETIREMENT RELATED CHANGES OTHER THAN NET PERIODIC POSTRETIREMENT COST 0. ROUNDING 2,376. FORM 990, PART XII, LINE 2C: THERE HAVE BEEN NO CHANGES TO THE PROCESS FROM THE PRIOR YEAR. FORM 990, PART III, LINE 1 DREW IS LOCATED ON A BEAUTIFUL, WOODED, 186-ACRE CAMPUS IN MADISON, NEW JERSEY, A THRIVING SMALL TOWN CLOSE TO NEW YORK CITY. IT HAS A TOTAL ENROLLMENT OF MORE THAN 2,000 STUDENTS AND HAS 150 FULL-TIME FACULTY MEMBERS, 99% OF WHOM HOLD THE TERMINAL DEGREE IN THEIR FIELD. THE THEOLOGICAL AND CASPERSEN SCHOOLS OFFER MA AND PHO DEGREES AND THE COLLEGE CONFERS BA AND BS DEGREES IN MORE THAN 30 DISCIPLINES. DREW'S NEW, ONE-OF-A-KIND, LEADING EDGE PATH TO AN UNDERGRADUATE DEGREE, LAUNCH, SYNCS CAREER DEVELOPMENT WITH RIGOROUS ACADEMICS AND POWERFUL COMMUNITY ROLLED OUT IN FALL 2019. PARTICULARLY NOTEWORTHY OPPORTUNITIES FOR UNDERGRADUATES INCLUDE THE CHARLES A. DANA RESEARCH INSTITUTE FOR SCIENTISTS EMERITI (RISE), HOME OF 2015 NOBEL PRIZE WINNER FOR MEDICINE AND DREW FELLOW WILLIAM CAMPBELL, THE DREW SUMMER SCIENCE INSTITUTE (DSSI), THE CENTER FOR CIVIC ENGAGEMENT, AS WELL AS NEW YORK CITY SEMESTERS FOCUSING ON WALL STREET, THE UNITED NATIONS, CONTEMPORARY ART, THEATRE, SOCIAL ENTREPRENEURSHIP AND COMMUNICATIONS AND MEDIA IN NEW YORK CITY AND SEVERAL INTERNATIONAL SEMESTER PROGRAMS. SCHEDULE E, PART I, LINE 3 OUR INTENT IS TO ACHIEVE A LEARNING ENVIRONMENT IN WHICH STUDENTS, FACULTY, AND STAFF UNDERSTAND THE CHALLENGES, ACCOMPLISHMENTS, AND PERSPECTIVES OF VARIOUS GROUPS OF PEOPLE, THUS GAINING A FULLER UNDERSTANDING OF THEMSELVES AS WELL AS HOW TO ENGAGE IN CONVERSATION SPANNING DIFFERENCES AND COMMONALITIES. ACHIEVING THIS VISION IS A FUNDAMENTAL COMMITMENT CRITICAL TO DREW UNIVERSITY'S MISSION AS AN INSTITUTION OF HIGHER LEARNING.