2022-05-16T10:01:43-05:00 2021-06-30 350921680 CROWE LLP 1455 Pennsylvania Avenue NW Suite 7 00 Washington DC 200041008 990 2020-07-01 362181973 Rosalind Franklin University of Medicine and Science ROSA 8475783000 3333 Green Bay Road North Chicago IL 600643095 GAVIN FARRY CFO 2022-05-16 true GAVIN FARRY 999009999 Robert Williams P01345960 2026245555 2020 2022-09-23 18:48:47Z Wendy Rheault 3333 Green Bay Road North Chicago IL 600643095 161953555 false X www.rosalindfranklin.edu X 2007 IL The mission of Rosalind Franklin University is to serve humanity through the interprofessional education of health and biomedical professionals, and the discovery of knowledge dedicated to improving wellness. 19 17 1477 21 -1213 0 15646090 16383175 102036475 107592144 2917050 5050452 4306861 1041227 124906476 130066998 7941737 7734612 0 0 78651295 72310904 0 0 1015576 41042482 43259161 127635514 123304677 -2729038 6762321 289254629 321942163 160812126 169191179 128442503 152750984 X Rosalind Franklin University of Medicine and Science is committed to serving the population through the interprofessional education of health and biomedical professionals and the discovery of knowledge dedicated to improving wellness. The University embodies the spirit of inquiry and excellence modeled by its namesake Dr. Rosalind Franklin, whose Photo 51 was crucial to solving the structure of DNA. Recognized for its research in areas including neuroscience, brain-related diseases, inherited disorders, diabetes, obesity, and gait and balance, RFU encompasses the Chicago Medical School, College of Health Professions, College of Nursing, College of Pharmacy, School of Graduate and Postdoctoral Studies, and the Dr. William M. Scholl College of Podiatric Medicine. false false 62638194 7734612 97209100 INSTRUCTION - THE PRIMARY PURPOSE OF THE UNIVERSITY IS TO EDUCATE AND TRAIN MEDICAL AND OTHER HEALTHCARE PROFESSION STUDENTS. IN 2020, RFUMS TRAINED OVER 2,000 STUDENTS. 23143677 RESEARCH - A CORE COMPONENT OF THE UNIVERSITY'S MISSION IS THE DISCOVERY OF KNOWLEDGE DEDICATED TO IMPROVING THE HEALTH OF THE NATION'S PEOPLE. IN ADDITION TO INSTRUCTION, MANY OF THE UNIVERSITY FACULTY ENGAGE IN UNIVERSITY-FUNDED AND EXTERNALLY FUNDED RESEARCH PROJECTS. PRIMARY AREAS OF RESEARCH FOCUS INCLUDE: BRAIN SCIENCES, GENETIC DISEASES, PROTEOMICS, AND CANCER CELL BIOLOGY, IMMUNOLOGY AND INFLAMMATION. EXTERNAL FUNDING COMES FROM THE NATIONAL INSTITUTES OF HEALTH AND ORGANIZATIONS SUCH AS THE AMERICAN CANCER SOCIETY, THE CYSTIC FIBROSIS FOUNDATION, AND THE FOREBATTEN FOUNDATION. 6940047 7900527 PATIENT CARE - THE UNIVERSITY UTILIZES EXISTING LABORATORY FACILITIES AND PERSONNEL TO PROCESS GENERAL LAB TESTS AND SPECIALIZED LAB TESTS FOR REPRODUCTIVE IMMUNOLOGY. 8662439 3404484 OTHER PROGRAM SERVICE REVENUES AND EXPENSES INCLUDE INTEREST ON STUDENT LOANS AND PENALTIES, STUDENT HOUSING REVENUE AND OTHER PROGRAM SERVICES. 8662439 3404484 101384357 true true false true false false false false true true true false true true true false true true false true false false false false false false false true true true false false false false false false false false true false true false false false true true true true false false true 2804 0 true 1477 true true true false false false false false false false false false true false X 19 17 false false false false false false false true true false false true true true true true true true true false MD X GAVIN FARRY 8475783000 3333 GREEN BAY ROAD North Chicago IL 600643095 Dr Wendy Rheault President & CEO 39.0 1.0 X X 1210621 0 41366 Elizabeth Coulson Chair/Trustee 1.0 0.0 X X 0 0 0 Michael C Foltz Treasurer/Trustee 1.0 0.0 X X 0 0 0 Pamela Scholl Vice Chair/Trustee 1.0 0.0 X X 0 0 0 Sandra Bruce Secretary/Trustee 1.0 0.0 X X 0 0 0 Alan Weinstein Trustee 1.0 0.0 X 0 0 0 Dr Adam Fleischer Faculty/Trustee as of 3.25.21 1.0 0.0 X 133830 0 49432 Dr Allan Cohen Trustee 1.0 0.0 X 0 0 0 Dr Carey Strom Trustee (PARTIAL YEAR) 1.0 0.0 X 0 0 0 Dr Cheryl Kraff-Cooper Trustee 1.0 1.0 X 0 0 0 Dr Elder Granger Trustee 1.0 0.0 X 0 0 0 Dr Jeffrey Damaschke Faculty/Trustee (PARTIAL YEAR) 1.0 0.0 X 146328 0 10403 Dr John Grady Trustee 1.0 1.0 X 0 0 0 Dr Judy Potashkin Faculty/Trustee (PARTIAL YEAR) 1.0 0.0 X 176312 0 38463 Dr Karen Miller Trustee 1.0 0.0 X 0 0 0 Dr Lee Sacks Trustee 1.0 0.0 X 0 0 0 Dr Seema Bhatia Trustee 1.0 1.0 X 0 0 0 Dr Sylvia Manning Trustee (PARTIAL YEAR) 1.0 0.0 X 0 0 0 Dr Thomas G Moore Trustee 1.0 0.0 X 0 0 0 Manuel Von Schulenburg Trustee 1.0 0.0 X 0 0 0 Martin Manning Trustee as of 5.13.21 1.0 0.0 X 0 0 0 Robert Charles Barton II Trustee (PARTIAL YEAR) 1.0 0.0 X 0 0 0 Rosalind Franklin Trustee 1.0 0.0 X 0 0 0 Shaundra Clay Trustee 1.0 0.0 X 0 0 0 Gavin Farry EVP of Finance & Admin CFO AS OF JAN 2021 39.0 1.0 X 0 0 0 John Nylen EVP of Finance & Admin COO (PARTIAL YEAR) 30.0 10.0 X 423213 0 34350 Dr Archana Chatterjee Dean & VP of Medical Affairs 40.0 0.0 X 402831 0 42501 Dr Nancy Parsley Provost & VP of Academic Affairs 40.0 0.0 X 412356 0 34417 Dr Ronald Kaplan VP Research 40.0 0.0 X 431547 0 68120 Lee Concha SVP for University Enhancement & Chief of Staff 40.0 0.0 X 502282 0 30769 Bret A Moberg Associate Professor and Compliance Counsel 40.0 0.0 X 459181 0 15941 Dr James Robert Carlson VP for Interprofessional Education & Simulation 40.0 0.0 X 447805 0 36565 Dr Michael Zdon Department Chair 40.0 0.0 X 348734 0 53008 Dr Stuart Goldman Executive Chair of Clinic Science/Professor 40.0 0.0 X 424033 0 46683 Rebecca Lynn Durkin VP For Student Success and Wellness 40.0 0.0 X 437898 0 21290 5956971 0 523308 245 false true false Woodlands On Green Bay Apartments 3500 Green Bay Road North Chicago IL 60064 Student Housing Services 1401990 Harvard Maintenance Inc 201 S Biscayne Blvd 24th Floor Miami FL 33131 Janitorial Services 951125 EAB Global Inc 8011 34th Ave South Two Appletree Square Bloomington MN 55425 Student Recruitment Services 579701 SSI (US) Inc dba SpencerStuart PO Box 98991 Chicago IL 60693 Personnel Recruiting 292897 Ted Studios Inc 333 W North Avenue Suite 283 Chicago IL 60610 Marketing 244097 15 28850 0 0 0 11179736 5174589 51343 16383175 TUITION & FEES 611310 97209100 97209100 PATIENT CARE 621400 7900527 7900527 STUDENT HOUSING REVENUE 611310 2226677 2226677 INCOME FROM STUDENT LOAN INTEREST 611310 55840 55840 COMPOUND TESTING - LAB 621500 200000 200000 0 0 0 0 107592144 793177 -1213 794390 119260 0 119260 0 119260 119260 36143832 31886557 4257275 0 4257275 4257275 TRANSCRIPT AND REGISTRATION FEES 900099 151721 151721 BOOK STORE SALES 900099 97314 97314 672932 672932 0 0 921967 130066998 108514111 -1213 5170925 7734612 7734612 4189143 2021331 2003877 163935 233955 198862 35093 56417927 48304815 7910358 202754 2441608 2131445 304780 5383 4471972 3873033 552554 46385 4556299 3833232 690234 32833 375141 375141 397989 397989 9000 9000 108398 108398 8620207 7863450 721469 35288 836537 153818 682719 5238650 4959040 228046 51564 2113643 2113643 5249482 4826803 149959 272720 29531 25551 3421 559 166094 149649 14880 1565 5939428 4834770 1104658 7925764 6446846 1478918 1156139 82216 1073923 Library Expenses 1703741 1703741 Membership Expenses 580373 523140 49892 7341 Other Expenses 2809044 1718003 895792 195249 0 0 0 0 123304677 101384357 20904744 1015576 19051203 8417316 113669 11751127 790136 893598 7307984 9918628 0 0 0 0 0 0 0 0 2481039 5722247 267332274 122510944 148263003 144821330 55975929 74598647 25341992 29180790 0 5778992 0 24150682 36638480 289254629 321942163 18046327 17884549 0 0 6084574 11568211 60355000 59285000 0 0 50795452 50785986 25530773 29667433 160812126 169191179 X 111374711 135811634 17067792 16939350 0 0 0 0 0 0 128442503 152750984 289254629 321942163 X 6762321 17139671 406489 X false true X true true true X 16178006 18974127 15697977 15646090 16383175 82879375 0 0 16178006 18974127 15697977 15646090 16383175 82879375 802642 82076733 2259896 1937420 1512172 4063942 3837300 13610730 0 3321 0 0 0 3321 0 0 0 0 0 0 96493426 500260468 0.8506 0.8687 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 9000 false false 9000 false Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY The University's lobbying expenses represent fees paid to a government relations consultant who is registered as a lobbyist with the State of Illinois and works on behalf of the University with state and local elected officials and agencies. The consultant kept the organization apprised of legislation that impacts higher education, healthcare and biomedical research, apprised the organization of potential state funding opportunities, and facilitated topical briefings with elected officials. 78895738 4663636 22190123 449836 4990615 0 100309046 81612966 6512079 1836116 330224 10735199 0 78895738 83072564 5299853 3156287 461880 9453858 0 81612966 81185863 4508114 5684524 259627 8046310 0 83072564 73928980 5280607 8173494 226461 5970757 0 81185863 0.891 0.099 0.01 false false 15224757 15224757 195842731 80327232 115515499 2600000 2600000 52489133 42183712 10305421 1175653 1175653 144821330 Fixed income securities 12000 F Private Equity 897836 F Hedge Funds 27460702 F Real assets 810252 F 29180790 DUE FROM RELATED ORGANIZATION 27044762 RIGHT-OF-USE ASSETS 4597881 LOANS TO STUDENTS, NET 4995837 36638480 Federal equity in student loan programs 4306093 Postretirement healthcare benefits 20313236 Lease liabilities 5048104 29667433 X Schedule D, Part V, Line 4 Intended uses of endowment funds The University's endowment is comprised of both donor-restricted and board-designated funds. The Investment Committee of the Board of Trustees provides oversight over the investment of those endowment funds by establishing policies and procedures concerning the management of endowment funds. Investment is consistent with the Uniform Prudent Management of Institutional Fund Act (UPMIFA). RFUMS has adopted a Total Return Spending Policy, which allocates an amount annually to be utilized according to donor restrictions or for advancing the University's mission in unfunded areas. The majority of donor-restricted funds provide scholarships and student aid. Funds generated by board-designated funds are used to support strategic initiatives and to provide general operating support. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The University has received a favorable letter of determination from the Internal Revenue Service concerning its tax-exempt status under Section 501(c)(3) of the Internal Revenue Code. The University files a Form 990 annually. When these returns are filed , it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the tax position taken or the amount of the position that would ultimately be sustained. Examples of tax positions common to universities include such matters as the following: the tax exempt status of each entity and various positions relative to potential sources of unrelated business income tax (UBIT). UBIT is reported on Form 990-T, as appropriate. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes that it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions are not offset or aggregated with other positions. Tax positions that meet the "more likely than not" recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely to be realized on settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above would be reflected as a liability for uncertain tax benefits in the accompanying statements of financial position along with any associated interest and penalties that would be payable to the taxing authorities upon examination. As of June 30, 2021 and 2020, there were no uncertain tax positions identified. The University does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months. Forms 990 and 990-T filed by the University are subject to the examination by the IRS up to three years from the extended due date of each return. Management believes the Forms 990 and 990-T have been filed appropriately. The University would recognize interest and penalties related to unrecognized tax positions in interest and income tax expense, respectively. The University has no amounts accrued for interest or penalties as of June 30, 2021 and 2020. true true true true true true true false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY Notifications and announcements are made via the University website, promotional material, catalogs and handbooks. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT Rosalind Franklin University of Medicine & Science applies for and receives research grants, as approved on a case by case basis, from various Federal agencies. The University also participates in Federal student aid programs for qualified students, specifically Perkins, Federal Direct Loan, Federal Work Study, and Health Profession Student Loans. The Federal grants and loans are reported in the University's A-133 Single Audit. Europe (Including Iceland and Greenland) 0 0 Program Services RESEARCH AND TECHNOLOGY 100071 North America (Canada & Mexico only) 0 0 Program Services RESEARCH 19266 Central America and the Caribbean 0 0 Investments 12612643 0 0 0 0 0 0 12731980 0 12731980 true false true false true false true TUITION WAIVERS/SCHOLARSHIPS 904 6180692 PRIVATE SCHOLARSHIPS 360 1257123 STUDENT HARDSHIP 377 296797 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. Procedures for monitoring the use of grant funds include retaining awarding and selection criteria, cost of attendance budgeting and monitoring and maintenance of continuous education policies. Records of each of the above are maintained to ensure continuous oversight and adherence to policies regarding usage. X X true true X X X X false false false false false false false false false Dr Wendy Rheault President & CEO 998121 0 212500 0 0 0 28500 0 12866 0 1251987 0 0 0 Dr Judy Potashkin Faculty/Trustee (PARTIAL YEAR) 176312 0 0 0 0 0 11292 0 27171 0 214775 0 0 0 Dr Adam Fleischer Faculty/Trustee as of 3.25.21 133830 0 0 0 0 0 8331 0 41101 0 183262 0 0 0 Dr Jeffrey Damaschke Faculty/Trustee (PARTIAL YEAR) 146328 0 0 0 0 0 9063 0 1340 0 156731 0 0 0 John Nylen EVP of Finance & Admin COO (PARTIAL YEAR) 423213 0 0 0 0 0 26154 0 8196 0 457563 0 0 0 Lee Concha SVP for University Enhancement & Chief of Staff 277282 0 225000 0 0 0 17231 0 13538 0 533051 0 0 0 Dr Ronald Kaplan VP Research 431547 0 0 0 0 0 24615 0 43505 0 499667 0 0 0 Dr Nancy Parsley Provost & VP of Academic Affairs 412356 0 0 0 0 0 25538 0 8879 0 446773 0 0 0 Dr Archana Chatterjee Dean & VP of Medical Affairs 402831 0 0 0 0 0 17692 0 24809 0 445332 0 0 0 Dr James Robert Carlson VP for Interprofessional Education & Simulation 222805 0 225000 0 0 0 14092 0 22473 0 484370 0 0 0 Bret A Moberg Associate Professor and Compliance Counsel 239181 0 220000 0 0 0 14710 0 1231 0 475122 0 0 0 Dr Stuart Goldman Executive Chair of Clinic Science/Professor 424033 0 0 0 0 0 26546 0 20137 0 470716 0 0 0 Rebecca Lynn Durkin VP For Student Success and Wellness 217898 0 220000 0 0 0 13538 0 7752 0 459188 0 0 0 Dr Michael Zdon Department Chair 348734 0 0 0 0 0 21954 0 31054 0 401742 0 0 0 Schedule J, Part I, Line 1a Housing allowance or residence for personal use THE PRESIDENT RECEIVED A HOUSING ALLOWANCE BY THE UNIVERSITY. IT IS TREATED AS TAXABLE COMPENSATION. Schedule J, Part I, Line 1a Health or social club dues or initiation fees THE PRESIDENT RECEIVED A HEALTH CLUB MEMBERSHIP. IT IS TREATED AS A NONTAXABLE BENEFIT. A Illinois Finance Authority Series 2017 861091967 45204EVQ8 2017-08-18 62390000 RETIRE 2003 & 2012 BONDS, CONSTRUCT EDUCATIONAL FACILITIES false false false A 3105000 0 62390000 0 0 0 1215943 0 0 0 61174057 0 2017 true false true true A false false false false 0.0 0.0 0.0 false false true A false true false false false false false false true A true JUNE MAYOR WIFE OF KEY EMPLOYEE 81698 EMPLOYEE OF THE UNIVERSITY false MARK GRUMET SON OF A TRUSTEE 152257 EMPLOYEE OF THE UNIVERSITY false X 1062 51343 Market value 0 false true false Schedule M, Part I Explanations of reporting method for number of contributions Securities - Publicly traded - Number of items received Form 990, Part III, Line 4d Description of other program services (Expenses $ 8,662,439 including grants of $)(Revenue $ 3,404,484) OTHER PROGRAM SERVICE REVENUES AND EXPENSES INCLUDE INTEREST ON STUDENT LOANS AND PENALTIES, STUDENT HOUSING REVENUE AND OTHER PROGRAM SERVICES. Form 990, Part VI, Line 1a Delegate broad authority to a committee The Executive Committee shall consist of, at a minimum, the Chair of the Board (as Chair of the Executive Committee), the Vice Chair of the Board, the Treasurer, the Secretary, and the President. The Executive Committee shall have the authority to exercise all authority of the Board of Trustees when the Board is not in session and time is of the essence, except as may be prohibited under law. When practicable, prior to the Executive Committee taking material actions on behalf of the Board pursuant to this provision, notice should be made to all Trustees of the pending matter in sufficient time to allow the Trustees to seek a special meeting to address that pending matter. The Board shall be notified of all actions taken by the Executive Committee at the earliest convenience. This notification may be accomplished by any means that fairly summarizes the actions taken by the Executive Committee. Form 990, Part VI, Line 11b Review of form 990 by governing body The organization's Chief Financial officer conducts a detailed review of the Form 990 in conjunction with the independent tax preparer of RFUMS. A formal review of the full Form 990 is then conducted by the organization's officers, members of management and the independent Executive Committee of the Board of Trustees prior to filing with the Internal Revenue Service. Subsequent to this review, a copy of the Full Form 990 is distributed to each voting member of the Board of Trustees prior to filing with the Internal Revenue Service. Form 990, Part VI, Line 12c Conflict of interest policy RFUMS has written conflict of interest policies for members of the Board of Trustees and officers of the corporation. In addition, conflict of interest policies and disclosure requirements cover senior administration and faculty, and all investigators engaged in university-sponsored or externally funded research. On an annual basis, members of the groups noted are required to disclose any interests that could give rise to any conflicts and provide a list of any potential and actual conflicts. Board of Trustees and officer disclosure documents are monitored by the Executive Committee of the Board. All others are monitored by the University's General Counsel. In the event of a conflict of interest, the individual is required to disclose the conflict and is prohibited from participating as a member of the Committee or Board in the matter in which there is a conflict. Form 990, Part VI, Line 15a Process to establish compensation of top management official The total compensation package of the organization's top management official is established, approved and reviewed each year by the organization's independent compensation committee of the Board of Trustees and reported to the full Board of Trustees. To ensure that compensation is both reasonable and competitive, biennially the Board retains the services of an outside independent consulting firm with expertise in academic healthcare. The independent consultant conducts a market survey that provides the Board with comparability data for compensation for similarly qualified persons at similar organizations. The decisions and deliberations regarding the review and approval of the top management official's compensation are documented in the Board minutes. Form 990, Part VI, Line 15b Process to establish compensation of other employees The compensation for other officers and key employees is established and approved by the organization's top management official, with oversight and review annually by the Board of Trustees. To ensure that compensation is both reasonable and competitive for the above parties, biennially the Board retains the services of an outside independent consulting firm with expertise in academic environments and healthcare. Form 990, Part VI, Line 19 Required documents available to the public The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990, Part VIII, Line 11d Other Miscellaneous Revenue - Total Revenue: 672932, Related or Exempt Function Revenue: 672932, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part XI, Line 9 Compensation of Board Members Adam Fleischer, is not compensated by RFUMS in their capacities as members of the Board of Trustees, but does receive compensation as faculty members of the University. IN ACCORDANCE WITH THE FORM 990 INSTRUCTIONS, PART IX, LINE 5 REPORTS Adam's COMPENSATION FOR SERVICES RENDERED as an employee organization." Form 990, Part XI, Line 9 Other changes in net assets or fund balances POST RETIREMENT LIAB ACTUARIAL ADJUSTMENT - 1022741; POST RETIREMENT HEALTH CARE COSTS - -616252; RFU LLC Corporation Trust Center 1209 Orange Stret Wilmington DE 19801 Real estate DE 2923650 52393693 Rosalind Franklin University of Medicine and Science ROSALIND FRANKLIN UNIVERSITY HEALTH CLINICS 3333 GREEN BAY ROAD NORTH CHICAGO IL 60064 770691998 HEALTH CARE IL 501(c)(3) Type I RFUMS true false false false true false false false false false false false false false true true true false false false ROSALIND FRANKLIN UNIVERSITY HEALTH CLINICS D 27044762 TOTAL ACTUAL OUTSTANDING LOAN AT YEAR END