2021-05-14T20:56:36-05:00 2020-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2019-07-01 060646623 Fairfield University % Michael Trafecante FAIR 2032544000 1073 North Benson Road Fairfield CT 06824 MICHAEL TRAFECANTE VP FOR FINANCE 2032544000 2021-05-13 true PHILLIP GROFF P01247783 2127589700 2021-05-12 2019 2022-09-23 18:48:47Z Mark R Nemec PHD 1073 North Benson Road Fairfield CT 06824 427840941 false X www.Fairfield.edu X 1942 CT FAIRFIELD'S MISSION IS TO DEVELOP THE CREATIVE INTELLECTUAL POTENTIAL OF ITS STUDENTS AND TO FOSTER IN THEM ETHICAL AND RELIGIOUS VALUES AND A SENSE OF SOCIAL RESPONSIBILITY. 31 30 3393 650 110633 32013407 42818387 292687181 292896855 53133930 25627460 579007 401787 378413525 361744489 86172784 93000271 0 0 126728124 129444901 353228 133339 7919927 97622807 93667238 310876943 316245749 67536582 45498740 950209678 941659821 336428395 322583237 613781283 619076584 X A FAIRFIELD UNIVERSITY EDUCATION HAS BECOME MORE INTEGRATED IN FOCUS, MORE GLOBAL IN OUTLOOK, AND MORE INTERNATIONAL IN ITS STRUCTURE THAN EVER BEFORE IN THE JESUIT TRADITION. SEE SCHEDULE O. false false 226879404 93000271 248467245 FAIRFIELD UNIVERSITY IS AN INSTITUTE OF HIGHER LEARNING WITH UNDERGRADUATE, GRADUATE, AND CONTINUING EDUCATION ACADEMIC PROGRAMS INCLUDING STUDENTS RESIDING ON CAMPUS. SEE SCHEDULE O. 37995682 39266167 ROOM & BOARD. SEE SCHEDULE O. 2519175 5049566 OTHER ACTIVITIES. A VARIETY OF STUDENT SERVICES INCLUDING ARTS AND ENTERTAINMENT AT THE QUICK CENTER, STUDENT ACTIVITIES FOR CLUB SPORTS, AND OTHER ITEMS. 267394261 true true false true false false true true false true true true false false false true true false true true true false true true true false false false true true true false false false false false false false false false false true true false false false false false false false true X 6827 0 true 3393 true true true true IT UK false false false true true false false false false false false X 31 30 false false false false false false false true true false false true true true true true true true true false CT X Michael Trafecante 2032544000 1073 North Benson Road Fairfield CT 06824 MARK R NEMEC PRESIDENT 45.0 0.0 X X 608862 0 127343 KEVIN LAWLOR EXECUTIVE VICE PRESIDENT 45.0 0.0 X 438315 0 166731 SYDNEY JOHNSON HEAD MBB COACH (thru 4-30-19) 45.0 0.0 X 489303 0 30453 MICHAEL TRAFECANTE TREASURER 45.0 0.0 X 309175 0 155110 CHRISTINE SIEGEL PROVOST & SR VP ACADEMICS 45.0 0.0 X 366795 0 65830 WALTER HALAS VP OF ADVANCEMENT 45.0 0.0 X 330852 0 68025 Zhan Li DEAN, SCHOOL OF BUSINESS 45.0 0.0 X 353642 0 39350 PAUL SCHLICKMANN DIRECTOR OF ATHLETICS 45.0 0.0 X 307606 0 65200 JOHN YOUNG HEAD MBB COACH 45.0 0.0 X 315520 0 42544 RICHARD GREENWALD DEAN, SCHOOL OF CAS 45.0 0.0 X 238526 0 60896 KRISTINE CARROLL SECRETARY 45.0 0.0 X 72447 0 47326 NANCY A ALTOBELLO TRUSTEE 5.0 0.0 X 0 0 0 REV JOHN F BALDOVIN SJ TRUSTEE 1.0 0.0 X 0 0 0 MARK J BECKWITH TRUSTEE 5.0 0.0 X 0 0 0 JOSEPH R BRONSON TRUSTEE 1.0 0.0 X 0 0 0 KEVIN P CANNON TRUSTEE 1.0 0.0 X 0 0 0 CARLOS M CARDOSO TRUSTEE 5.0 0.0 X 0 0 0 FRANK J CARROLL III TRUSTEE 5.0 0.0 X 0 0 0 REV GEORGE E COLLINS TRUSTEE 1.0 0.0 X 0 0 0 WILLIAM C CRAGER TRUSTEE 1.0 0.0 X 0 0 0 MARY RYAN CUNNINGHAM TRUSTEE 1.0 0.0 X 0 0 0 SHEILA KEARNEY DAVIDSON TRUSTEE 5.0 0.0 X 0 0 0 CHRISTOPHER C DESMARAIS TRUSTEE 5.0 0.0 X 0 0 0 REV TERRENCE P DEVINO SJ Trustee (thru 9-26-19) 1.0 0.0 X 0 0 0 Patricia E 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CONTRACTING CO 195 CHURCH STREET NEW HAVEN CT 06510 CONSTRUCTION 10455609 CONSIGLI CONSTRUCTION INC 100 ALLYN ST FL 4 HARTFORD CT 06103 CONSTRUCTION 8228671 CALDWELL WALSH BUILDING CONSTRUCT 17 BERSHIRE ROAD SANDY HOOK CT 06482 CONSTRUCTION 8105286 110 3354 4946466 37868567 7742607 42818387 Tuition & Fees 611600 248467245 248467245 Auxiliary Services 721000 39266167 39266167 Other Program Services 900099 3955367 3955367 Summer Conferences 900099 1208076 1094199 113877 292896855 12887358 -3569 12890927 0 0 1240049 838262 401787 0 401787 325 401462 77872310 89486 65092409 129285 12779901 -39799 12740102 12740102 36496 3354 36496 0 0 0 0 0 0 0 361744489 292782978 110633 26032491 0 88188532 88188532 4811739 4811739 0 2786095 1214158 1302329 269608 0 92795903 74265966 14047962 4481975 6888309 4915183 1569748 403378 20156829 12027741 7307591 821497 6817765 5131572 1343322 342871 0 774333 33569 740764 250655 130 250525 266 266 133339 133339 204744 204744 12783827 11655411 1115991 12425 1489861 388825 1051950 49086 6633823 5390805 753235 489783 4584783 1500561 3026731 57491 0 8011237 8010993 244 4804089 3892503 510392 401194 0 216393 157489 39921 18983 11425167 10737682 657667 29818 0 22282847 20865402 1261218 156227 1139851 192025 947344 482 Maintenance and Equipment 4873018 3956179 844087 72752 STUDY ABROAD 4799497 4799497 CONSULTANTS & HONORARIA 4138763 2248695 1807476 82592 Library Acquisitions 949769 949581 188 4304315 2060023 2148110 96182 316245749 267394261 40931561 7919927 2542 318 53018232 76579213 38326175 37015242 3317982 2281327 0 0 0 0 0 0 0 0 0 0 737575612 281771639 426963551 455803973 326520552 287124280 71358169 77551274 0 0 0 0 30702475 5304194 950209678 941659821 45281526 36842775 2340889 2049330 15028913 17957569 273777067 265733563 0 0 0 0 0 0 0 0 0 0 336428395 322583237 X 310102637 338254777 303678646 280821807 613781283 619076584 950209678 941659821 X 45498740 -39768481 -434958 X false true X true true true X 29550321 64155723 23956109 31903407 42818387 192383947 0 0 29550321 64155723 23956109 31903407 42818387 192383947 44479734 147904213 5617104 5071659 8509434 7971642 14130651 41300490 0 409033 409033 234093470 1374150209 0.63182 0.63770 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 266 266 false SCHEDULE C, PART II-B, LINE 1 FAIRFIELD UNIVERSITY INDIRECTLY INCURS LOBBYING EXPENSE THROUGH DUES PAID TO OTHER ORGANIZATIONS. X 9 30.00 2 1 true 65.00 40000 false X X X X false 382450518 1402417 -15169929 4530960 6958998 141123 357051925 371182676 8226618 14081047 4407492 6465466 166865 382450518 355306266 6966222 25695257 3856209 12497141 431719 371182676 316913844 6966058 42738641 4138098 6544540 629639 355306266 324498896 5909462 -1112030 4354070 8028414 316913844 0.39542 0.60458 false false 8195021 8195021 619813595 209472764 410340831 79524027 64819360 14704667 30042969 7479515 22563454 455803973 PRIVATE EQUITY AND OTHER 19305369 F EQUITY FUNDS (NONREGISTERED) 19484897 F HEDGE FUND OF FUNDS 38761008 F 77551274 0 0 X 229210794 -39768481 -92560470 -132328951 361539745 204744 204744 361744489 223915492 -92125513 -92125513 316041005 204744 204744 316245749 SCHEDULE D, PART III, LINE 1A SFAS 116 (ASC 958) FOOTNOTE THE ART COLLECTIONS ARE DONATED TO THE UNIVERSITY AND NOT RECOGNIZED IN THE ASSETS OF THE BALANCE SHEET. THE AUDITED FINANCIAL STATEMENTS DO NOT HAVE A FOOTNOTE REGARDING THE COLLECTIONS. SCHEDULE D, PART III, LINE 4 ORGANIZATION'S COLLECTION THE ART COLLECTIONS ARE AN IMPORTANT CULTURAL RESOURCE OF THE UNIVERSITY, PROVIDING ARTS AND ACADEMIC ENRICHMENT TO THE STUDENTS, FACULTY, LOCAL COMMUNITY, AND INTERNATIONAL SCHOLARLY COMMUNITY. THE COLLECTIONS ARE HOUSED AT THE FAIRFIELD UNIVERSITY ART MUSEUM'S THOMAS J WALSH ART GALLERY, BELLARMINE HALL GALLERIES AND AT VARIOUS LOCATIONS ON CAMPUS. THE COLLECTIONS AREA OF THE MUSEUM'S WEBSITE PROVIDES DIGITAL ACCESS TO THESE WORKS OF ART, AND PROVIDES ART HISTORICAL AND TECHNICAL INFORMATION ABOUT THESE OBJECTS. THE FAIRFIELD UNIVERSITY ART MUSEUM IS DEDICATED TO PRESERVING, STUDYING, AND EXHIBITING THOSE OBJECTS ENTRUSTED TO ITS CARE, WHILE NEVER LOSING SIGHT OF ITS OBLIGATION TO EDUCATE AND INSPIRE ITS MANY AUDIENCES, FOR THE GREATER ENRICHMENT OF ALL. THE MUSEUM IS OPEN TO THE PUBLIC AND FREE OF CHARGE. SCHEDULE D, PART V, LINE 4 THE UNIVERSITY'S ENDOWMENT IS AN AGGREGATION OF GIFTS PROVIDED BY DONORS WITH THE REQUIREMENT THE GIFTS BE HELD IN PERPETUITY TO GENERATE EARNINGS NOW AND IN FUTURE YEARS TO SUPPORT THE UNIVERSITY'S PROGRAMS OF INSTRUCTION, RESEARCH AND PUBLIC SERVICE AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENT. EARNINGS FROM ENDOWMENT INVESTMENTS SUPPORT SCHOLARSHIPS, CHAIRS, PROFESSORSHIPS, FELLOWSHIPS, BASIC RESEARCH, AS WELL AS ACADEMIC AND PUBLIC SERVICE PROGRAMS. THE ENDOWMENT SHOULD PROVIDE STABILITY SINCE THE PRINCIPAL IS INVESTED AND EARNINGS ARE GENERATED YEAR AFTER YEAR. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. SCHEDULE D, PART X, LINE 2 The University is a not-for-profit corporation as described in Section 501(c)(3) of the Internal Revenue Code (the Code) and is generally exempt from income taxes on related income pursuant to Section 501(a) of the Code. The University recognizes the effects of income tax positions only if those positions are more likely than not of being sustained. The University evaluates, on an annual basis, the effects of any uncertain tax positions on its financial statements. As of June 30, 2020, the University has not identified or provided for any such positions. SCHEDULE D, PART XI, LINE 2D OTHER AMOUNTS INCLUDED ON LINE 1 BUT NOT ON FORM 990, PART VIII, LINE 12: STUDENT FINANCIAL AID $(93,000,271) VALUE IN SPLIT INTEREST AGREEMENT (118,243) UNCOLLECTIBLE PLEDGES WRITE-OFF (316,715) RENTAL EXPENSE 838,262 FUNDRAISING EXPENSE 36,496 ROUNDING 1 ------------- $(92,560,470) SCHEDULE D, PART XII, LINE 2D OTHER AMOUNTS INCLUDED ON LINE 1 BUT NOT ON FORM 990, PART IX, LINE 25: STUDENT FINANCIAL AID $(93,000,271) RENTAL EXPENSE 838,262 FUNDRAISING EXPENSE 36,496 ------------- $(92,125,513) true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 FAIRFIELD UNIVERSITY ADMITS STUDENTS OF ANY SEX, RACE, COLOR, MARITAL STATUS, SEXUAL ORIENTATION, RELIGION, AGE, NATIONAL ORIGIN OR ANCESTRY, DISABILITY OR HANDICAP TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS OF THE UNIVERSITY. IT DOES NOT DISCRIMINATE ON THE BASIS OF SEX, RACE, COLOR, MARITAL STATUS, SEXUAL ORIENTATION, GENDER IDENTITY, VETERAN'S STATUS, POLITICAL IDEOLOGY, RELIGION, AGE, NATIONAL ORIGIN OR ANCESTRY, DISABILITY OR HANDICAP IN ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSIONS POLICIES, EMPLOYMENT POLICIES, SCHOLARSHIP AND LOAN PROGRAMS, ATHLETIC PROGRAMS, OR OTHER UNIVERSITY-ADMINISTERED PROGRAMS. THIS INFORMATION IS OUTLINED ON FAIRFIELD UNIVERSITY'S PUBLIC WEBSITE. SCHEDULE E, PART I, LINE 6 FAIRFIELD UNIVERSITY RECEIVES GRANTS, AWARDS AND FINANCIAL ASSISTANCE FOR ITS STUDENTS FROM VARIOUS GOVERNMENTAL AGENCIES. THE UNIVERSITY HAS ALWAYS BEEN IN GOOD STANDING AND THE RIGHT TO RECEIVE SUCH AID HAS NEVER BEEN REVOKED OR SUSPENDED. true Europe (Including Iceland and Greenland) 2 7 Program Services Study Abroad Program 5604991 East Asia and the Pacific Program Services Study Abroad Program 183258 Central America and the Caribbean Program Services Study Abroad Program 21705 Middle East and North Africa Program Services Study Abroad Program 23250 Central America and the Caribbean Grantmaking 136815 East Asia and the Pacific Grantmaking 1302062 Europe (Including Iceland and Greenland) Grantmaking 1577359 North America Grantmaking 624954 South America Grantmaking 211240 South Asia Grantmaking 354470 Sub-Saharan Africa Grantmaking 265119 Middle East and North Africa Grantmaking 155590 Russia and the Newly Independent States Grantmaking 184130 Central America and the Caribbean Investments 46117571 Europe (Including Iceland and Greenland) Investments 989782 2 7 2 7 57752296 57752296 SCHOLARSHIP Central America and the Caribbean 3 136815 SCHOLARSHIP East Asia and the Pacific 41 1302062 SCHOLARSHIP Europe (Including Iceland and Greenland) 40 1577359 SCHOLARSHIP North America 14 624954 SCHOLARSHIP South America 8 211240 SCHOLARSHIP South Asia 16 354470 SCHOLARSHIP Sub-Saharan Africa 6 265119 SCHOLARSHIP Middle East and North Africa 2 155590 SCHOLARSHIP Russia and the Newly Independent States 4 184130 true false true true true false SCHEDULE F, PART 1, LINE 1 THE UNIVERSITY HAS IN PLACE INTERNAL CONTROLS TO ENSURE AMOUNTS ARE AWARDED TO STUDENTS WHO CONTINUE TO MEET & MAINTAIN ELIGIBILTY REQUIREMENTS. THESE INTERNAL CONTROLS ARE ADMINISTRATED BY THE UNIVERSITY'S FINANCIAL AID OFFICE. SCHEDULE F, PART 1, LINE 3 STUDY ABROAD PROGRAMS AND GRANTMAKING ARE REPORTED ON THE ACCRUAL METHOD. INVESTMENTS ARE REPORTED AT FAIR MARKET VALUE. SCHEDULE F - GRANTMAKING THE UNIVERSITY OFFERS FINANCIAL ASSISTANCE IN THE FORM OF LOANS, GRANTS, EMPLOYMENT (WORK STUDY) AND SCHOLARSHIPS. THE AWARDS ARE AWARDED TO STUDENTS MEETING CERTAIN ELIGIBILITY REQUIREMENTS. THE PROGRAMS ARE ADMINISTERED BY THE FINANCIAL AID OFFICE. X X X X X X true COMMUNITY COUNSELING SERV PO BOX 824885 PHILADELPHIA PA 191824885 CAMPAIGN CONSULTING false 87500 -87500 GIVECAMPUS INC 903 G ST SE WASHINGTON DC 20003 EXTERNAL WEBSITE false 68815 41210 27605 68815 128710 -59895 Alumni Awrd Din 39850 3354 36496 15000 21496 0 39850 3354 36496 15000 21496 36496 SCHEDULE G, PART I- PROFESSIONAL FUNDRAISING SERVICES - COMMUNITY COUNSELING SERVICES, A STRATEGIC FUNDRAISING FIRM, PROVIDED ON-SITE TRAININGS TO FAIRFIELD UNIVERSITY IN-HOUSE PERSONNEL ON FUNDRAISING STRATEGIES, PLANNING, MANAGING, AS WELL AS IMPLEMENTING PROGRAMS THAT ACHIEVE FUNDRAISING GOALS. - GIVECAMPUS: PROVIDES AN ON-LINE PLATFORM USED AS PART OF THE UNIVERSITY'S ANNUAL FUNDRAISING ACTIVITIES. true INSTITUTIONAL SCHOLARSHIPS 6222 75086243 ATHLETIC SCHOLARSHIPS 308 5384038 STATE AND FEDERAL GRANTS 372 859398 PREP SCHOOL FINANCIAL AID 274 2735067 OTHER FINANCIAL AID 702 4123786 SCHEDULE I, PART I, LINE 1A THE UNIVERSITY OFFERS FINANCIAL ASSISTANCE IN THE FORM OF LOANS, GRANTS, EMPLOYMENT (WORK STUDY) AND SCHOLARSHIPS. THE AWARDS ARE AWARDED TO STUDENTS MEETING CERTAIN ELIGIBILITY REQUIREMENTS. THE PROGRAMS ARE ADMINISTERED BY THE FINANCIAL AID OFFICE WHICH HAS VARIOUS INTERNAL CONTROLS IN PLACE TO MONITOR THE AMOUNT OFFERED TO STUDENTS. AN ANNUAL UNIFORM GUIDANCE AUDIT IS CONDUCTED FOR THE FINANCIAL AID PROGRAMS AND THE FISAP REPORT IS PREPARED ANNUALLY FOR THE DEPARTMENT OF EDUCATION. AMOUNTS OF AID AWARDED ARE CREDITED TO STUDENT ACCOUNTS AND NOT SENT DIRECTLY TO THE STUDENT. X X X true true X X X X X true false false false false false false true false MARK R NEMEC PRESIDENT 488807 0 98160 0 21895 0 25200 0 102143 0 736205 0 Zhan Li DEAN, SCHOOL OF BUSINESS 315842 0 37800 0 0 0 25200 0 14150 0 392992 0 MICHAEL TRAFECANTE TREASURER 269692 0 39483 0 0 24032 0 131078 0 464285 0 KEVIN LAWLOR EXECUTIVE VICE PRESIDENT 370105 0 65000 0 3210 0 25200 0 141531 0 605046 0 RICHARD GREENWALD DEAN, SCHOOL OF CAS 225104 0 0 13422 0 20954 0 39942 0 299422 0 WALTER HALAS VP OF ADVANCEMENT 286459 0 43013 0 1380 0 25200 0 42825 0 398877 0 CHRISTINE SIEGEL PROVOST & SR VP ACADEMICS 332795 0 34000 0 0 25200 0 40630 0 432625 0 SYDNEY JOHNSON HEAD MBB COACH (thru 4-30-19) 239303 0 0 250000 0 16745 0 13708 0 519756 0 PAUL SCHLICKMANN DIRECTOR OF ATHLETICS 266473 0 40620 0 513 0 24677 0 40523 0 372806 0 JOHN YOUNG HEAD MBB COACH 311767 0 0 3753 0 22302 0 20242 0 358064 0 SCHEDULE J, PART I, LINE 1A THE PRESIDENT RESIDES IN A HOUSE THAT WAS DONATED TO THE UNIVERSITY SPECIFICALLY FOR THE PRESIDENT'S USE. THE HOUSE IS USED EXTENSIVELY FOR UNIVERSITY EVENTS. THE PRESIDENT LIVES IN THE HOUSE FOR THE CONVENIENCE OF THE UNIVERSITY. CLEANING SERVICES ARE PROVIDED FOR THE HOUSE AS UNIVERSITY EVENTS ARE CONDUCTED THERE. ALL AMOUNTS ARE INCLUDED IN NON-TAXABLE BENEFITS IN COLUMN D OF SCHEDULE J, PART II, COLUMN (D). THE UNIVERSITY PROVIDES AN APARTMENT FOR USE BY THE DEAN OF THE SCHOOL OF ARTS & SCIENCE TO REDUCE THE DEANS COMMUTE. ALL AMOUNTS ARE INCLUDED IN TAXABLE INCOME. HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES: THE PRESIDENT RECEIVED MEMBERSHIP TO A CLUB FOR THE PURPOSE OF ENTERTAINING POTENTIAL DONORS. ALL AMOUNTS ARE INCLUDED IN TAXABLE INCOME. SCHEDULE J, PART, LINE 4A Syndney Johnson received a severance payment of $250,000. SCHEDULE J, PART I, LINE 7 VARIOUS MEMBERS OF MANAGEMENT WERE AWARDED A PERFORMANCE BONUS BASED ON SUCCESSFUL ATTAINMENT OF PERFORMANCE BASED OBJECTIVES. A CHEFA 2010 Series P 060806186 20774UY41 2010-03-18 11573281 CURRENT REFUNDING OF 1998 BOND false false false B CHEFA 2016 Series Q-1 060806186 20774YYR2 2016-02-25 53583942 CONSTRUCT OF VAR CAMPUS FACILITIES false false false C CHEFA 2016 Series Q-2 060806186 20774YZH3 2016-03-30 20006907 PARTIALLY REFUND CHEFA SERIES 2008 false false false D CHEFA 2017 SERIES R 060806186 20774Y381 2017-12-20 121950419 Refund chefa series o construction false false false A 4230000 0 11573281 758457 0 0 116497 0 0 0 10698327 0 true false true true B 0 0 53583942 0 3138393 0 525083 0 0 49920466 0 0 2018 false false true true C 1930000 0 20006907 0 0 0 291476 0 0 0 19715431 0 false true false true D 0 0 121950419 0 0 0 808952 0 0 40000000 81141467 0 false true false true A false false true true false 0 0.00250 0.00250 false false false true B false false true true false 0 false false false true C false false true true true true 0 0.00150 0.00150 false false false true D false false true true false 0 false false false true A false false false true false false 0 false 0 false true B false true false false false false 0 false 0 false true C false true false false false false 0 false 0 false true D false true false false false false 0 false 0 false true A true B true C true D true SCHEDULE K PART II, LINE 11 CHEFA 2018 SERIES S BOND: THE OTHER SPEND PROCEEDS WERE USED TO CURRENTLY REFUND THE 2008 SERIES M AND SERIES N BOND ISSUES. CHEFA 2017 SERIES R BOND: THE OTHER PROCEEDS WERE USED TO REFUND SERIES O. THE REMAINING $40 MILLION WAS USED FOR THE CONSTRUCTION OF NEW JR/SR TOWNHOUSES AND RENOVATIONS OF OTHER CAMPUS FACILITIES. CHEFA 2016 SERIES Q-2 BOND: THE OTHER SPENT PROCEEDS WERE USED TO ADVANCE REFUND A PORTION OF THE SERIES M BOND ISSUE. CHEFA 2010 SERIES P: THE OTHER SPENT PROCEEDS WERE USED TO CURRENTLY REFUND THE 2010 SERIES F BOND ISSUE. SCHEDULE K, PART III, LINE 3A ALL MANAGEMENT AND SERVICE CONTRACTS IN BOND FINANCED SPACE HAVE BEEN PREVIOUSLY REVIEWED BY BOND COUNSEL. THEY WERE DETERMINED TO FALL UNDER THE SAFE HARBOR PROVIDED BY REVENUE PROCEDURE 2007-17 AND WILL NOT RESULT IN PRIVATE BUSINESS USE. SCHEDULE K, PART III, LINE 3C RESEARCH AGREEMENTS: RESEARCH AGREEMENTS RELATING TO THE BONDS ISSUE S AND Q2 HAVE BEEN REVIEWED BY BOND COUNSEL TO ENSURE THEY ARE COMPLIANT WITH THE APPLICABLE SAFE HARBORS. THE RESEARCH AGREEMENTS DID NOT RESULT IN ANY PRIVATE BUSINESS USE. SCHEDULE K, PART IV, LINE 2C THE DATE OF MOST RECENT REBATE CALCULATION FOR THE CHEFA 2010 SERIES P BOND ISSUES WAS MARCH 17, 2015. A CHEFA 2018 SERIES S 060806186 20774Y3Y1 2018-04-04 75309545 REFUND CHEFA SERIES M & N false false false A 4680000 0 75309545 0 0 0 554389 0 0 0 74755156 0 2018 true false true true A false false true true false 0 0.02790 0.02790 false false false true A false true false false false false 0 false 0 false true A true X 50 Appraisals X 68 7731684 FMV X Other - GIK 4 10923 FMV 1 false false false SCHEDULE M, PART I, LINE 1, COLUMN (C) WORKS OF ART FAIRFIELD UNIVERSITY DOES NOT REPORT AN APPRAISED VALUE FOR WORK OF ARTS IN ITS AUDITED FINANCIAL STATEMENTS. SCHEDULE M, PART I, PART I, COLUMN B THE NUMBER IN SCHEDULE M, PART I, COLUMN B REPRESENTS THE NUMBER OF ITEMS CONTRIBUTED. FORM 990, PART III, LINE 1 The purpose of Fairfield University is to establish, organize, maintain and conduct an institution for intermediate, secondary, undergraduate and graduate education in the State of Connecticut, and to perform such other works of education, charity and religion. A FAIRFIELD UNIVERSITY EDUCATION HAS BECOME MORE INTEGRATED IN FOCUS, MORE GLOBAL IN OUTLOOK, AND MORE INTENTIONAL IN ITS STRUCTURE THAN EVER BEFORE IN THE JESUIT TRADITION. WE ARE COMMITTED TO CREATING A STUDENT-FOCUSED, HOLISTIC, AND DIVERSE EDUCATIONAL ENVIRONMENT INTENDED TO EDUCATE THE WHOLE PERSON, MIND, BODY AND SPIRIT. WE WANT TO CULTIVATE IN BOTH OUR UNDERGRADUATE AND GRADUATE STUDENTS A SENSE OF COMMUNITY AND STRONG ETHICAL AND SPIRITUAL VALUES TO GUIDE THEM ON THEIR PATHS INTO THE FUTURE. COVID-19 IMPACT IN RESPONSE TO COVID-19, THE UNITED STATES CONGRESS PASSED THE CORONAVIRUS AID, RELIEF AND ECONOMIC SECURITY (CARES) ACT ON MARCH 27, 2020. THE UNIVERSITY RECOGNIZED $1,564,000 IN GRANT REVENUE AS A RESULT OF THE CARES ACT. THE FUNDS WERE USED TO AWARD COVID-19 RELIEF AID TO STUDENTS, AS WELL AS, TO OFFSET COSTS INCURRED BY THE UNIVERSITY RELATED TO COVID-19, INCLUDING ADJUSTMENTS TO ROOM AND BOARD. THE UNIVERSITY ISSUED $9,369,122 OF ROOM AND BOARD ADJUSTMENTS IN 2020 AS A RESULT OF THE CAMPUS CLOSURE DUE TO THE CORONAVIRUS (COVID-19) PANDEMIC. ISSUED $9,369,122 OF ROOM AND BOARD ADJUSTMENTS IN 2020 AS A RESULT OF THE CAMPUS CLOSURE DUE TO THE CORONAVIRUS (COVID-19) PANDEMIC. FORM 990, PART III, LINE 4A FAIRFIELD UNIVERSITY IS AN INSTITUTION OF HIGHER LEARNING WITH UNDERGRADUATE, GRADUATE, DOCTORATE AND CONTINUING EDUCATION ACADEMIC PROGRAMS INCLUDING STUDENTS RESIDING ON CAMPUS. FULL-TIME EQUIVALENT ENROLLMENT FOR THE 2019-2020 ACADEMIC YEAR WAS 4,208 UNDERGRADUATES AND 645 GRADUATE STUDENTS WITH APPROXIMATELY 3,156 STUDENTS LIVING IN ON-CAMPUS RESIDENCES. ALSO INCLUDED IN OUR PROGRAM SERVICES IS A SECONDARY PREPARATORY SCHOOL WITH AN ENROLLMENT OF APPROXIMATELY 770 STUDENTS. FAIRFIELD UNIVERSITY WELCOMED 1,176 MEMBERS OF THE CLASS OF 2023 AND 46 TRANSFER STUDENTS TO CAMPUS IN THE FALL OF 2019. THE CLASS OF 2023 IS A STRONG CLASS, WITH AN AVERAGE SAT SCORE OF 1280, SLIGHTLY HIGHER THAN THAT OF THE CLASS OF 2022. CONTINUED REFINEMENT OF THE FINANCIAL AID PROCESS AS WELL AS ENHANCEMENTS TO CAMPUS PROGRAMMING AND FOLLOW UP COMMUNICATION EFFORTS RESULTED IN A CLASS THAT EXCEEDED OUR BUDGETED GOALS. RECOGNITION OF QUALITY AND VALUE: Fairfield University was once again recognized in the annual U.S. News and World Report (USNWR) Best Colleges 2020 rankings, placing #3 for Best Regional Universities in the North. Other regional distinctions for Fairfield include No. 1 spot at the top of USNWRs Best Undergraduate Teaching list, and No. 2 Most Innovative School. Fairfield also ranked No. 9 for Student Success-Service Learning, and on USNWRs list of 2020 Academic Programs to Look For, tying with the University of Notre Dame. Fairfield earned places on USNWRs list of Best Engineering Programs and Best Undergraduate Business Programs. In other national rankings, Fairfield ranked in the top 100 for all private institutions and top 150 overall on the Forbes list of Americas Top Colleges. The Princeton Review named Fairfield among the Best 385 Colleges in its annual 2020 college rankings, where the University placed No. 14 for Best Alumni Network, No. 14 for Best Schools for internships, No. 16 for its location in the town of Fairfield, and No. 19 for Happiest Students. In The Wall Street Journal/Times Higher Education rankings for 2020, Fairfield placed in the top quartile, ranked among the top 200, and placed high in the engagement category, and in the top 20% of schools for outcomes. Egan School of Nursing and Health Studies Ranked No. 7 nationally in College Factual's 2020 'Best Colleges Ranking', placing the Egan School in the top 5 percent of programs in the country. The Egan school was also ranked No. 1 in Connecticut for its nursing program, and was recognized nationally for producing the top 5 percent highest paid graduates in the health professions. Fairfields student-athletes achieved one of the highest graduation rates in the nation by the NCAA - a 96 percent graduation success rate (GSR) for a 4 year cohort of student-athletes. Eleven sports at Fairfield University achieved a 100 percent graduation rate. FORM 990, PART III, LINE 4B AUXILIARY SERVICES INCLUDE THE COSTS OF ROOM AND BOARD FOR APPROXIMATELY 3,156 FULL-TIME UNDERGRADUATE STUDENTS LIVING ON CAMPUS IN RESIDENCE HALLS, TOWNHOUSES, AND APARTMENT COMPLEXES RESIDING ON A 200-ACRE CAMPUS. GRADUATE STUDENT HOUSING IS ALSO OFFERED IN INDEPENDENT OFF-CAMPUS HOUSES, AND IN AN APARTMENT STYLE RESIDENCE HALL. FORM 990, PART VI, SECTION B, LINE 11 IT IS THE POLICY OF FAIRFIELD UNIVERSITY THAT EACH VOTING MEMBER OF THE FINANCE AND AUDIT COMMITTEE OF THE BOARD OF TRUSTEES IS PRESENTED WITH A COPY OF THE COMPLETED IRS FORM 990 BEFORE IT IS FILED WITH THE IRS. FORM 990 IS REVIEWED AND APPROVED BY THE VICE PRESIDENT FOR FINANCE BEFORE IT IS FORWARDED TO THE FINANCE AND AUDIT COMMITTEE. FORM 990, PART VI SECTION B, LINE 12C MEMBERS OF THE BOARD OF TRUSTEES ARE ASKED TO SIGN A CONFLICT OF INTEREST STATEMENT. THE STATEMENT SHALL BE SIGNED ANNUALLY BY EACH BOARD MEMBER AS A CONDITION OF MEMBERSHIP ON THE BOARD OF TRUSTEES. EACH TRUSTEE IS EXPECTED TO DISCLOSE IN WRITING TO THE CHAIRMAN OF THE BOARD ALL SITUATIONS IN WHICH CONFLICTS MIGHT EXIST, OR APPEAR TO EXIST. CONFLICT OF INTEREST STATEMENTS ARE COLLECTED AND REVIEWED BY THE UNIVERSITY SECRETARY. NO TRUSTEE HAVING INTERESTS CONFLICTING WITH THE INTERESTS OF THE UNIVERSITY, OR APPEARING SO, SHALL TAKE PART IN THE DELIBERATIONS OR VOTES OF THE BOARD INVOLVING THE QUESTION CONCERNING THE CONFLICT NOR SEEK TO INFLUENCE THE OTHER TRUSTEES ON THAT QUESTION. FORM 990, PART VI, SECTION B, LINE 15a and 15b THE REVIEW PROCESS INCLUDES ALL OF THESE ELEMENTS (1) REVIEW AND APPROVAL BY THE BOARD OF TRUSTEES - COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES OF FAIRFIELD UNIVERSITY, PROVIDED THAT PERSONS WITH CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE ARE NOT INVOLVED IN THIS REVIEW AND APPROVAL (2) USE OF DATA AS TO COMPARABLE COMPENSATION - THE COMPENSATION OF THE PERSON IS REVIEWED AND APPROVED USING DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED UNIVERSITIES. THE FOLLOWING METHODS HAVE BEEN USED A. REVIEW BY AN INDEPENDENT THIRD PARTY; B. CONDUCT MARKET ASSESSMENT OF SALARIES; AND C. EVALUATE THE APPROPRIATENESS OF THE CURRENT SALARY STRUCTURE TO ENSURE THAT WE ARE AND REMAIN COMPETITIVE WITH THE MARKET, AS WELL AS REMAIN INTERNALLY EQUITABLE. (3) CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING - THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING WITH RESPECT TO THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT. THE LAST TIME OF REVIEW WAS JUNE 2020 DURING THE BOARD MEETING. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS SUCH AS FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY AND WHISTLEBLOWER POLICY ARE AVAILABLE ON THE UNIVERSITY'S WEBSITE AND ALSO BY REQUEST. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENT (118,243) UNCOLLECTIBLE PLEDGES WRITE-OFF (316,715) --------- TOTAL (434,958)