2021-03-05T15:00:32-06:00 2020-05-31 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2019-06-01 362170136 Illinois Institute of Technology ILLI 3125673825 3424 SOUTH STATE STREET TC-4 FL CHICAGO IL 60616 MICHAEL HORAN VP FINANCE, CFO, & TREASURER 2021-03-05 true NICOLE BENCIK P00756195 3128997000 2019 2022-09-23 18:48:47Z Alan W Cramb SUITE 1900 10 W 35TH STREET CHICAGO IL 60616 482526147 false X WWW.IIT.EDU X 1940 IL TO PROVIDE DISTINCTIVE AND RELEVANT EDUCATION IN AN ENVIRONMENT OF SCIENTIFIC, TECHNOLOGICAL, AND PROFESSIONAL KNOWLEDGE CREATION AND INNOVATION. 67 65 3986 104 340902 0 84788322 111293482 279548821 283190767 14372887 15133129 1339078 849474 380049108 410466852 122331391 129709267 0 150501802 148781015 99334 76422 7233938 97232693 90645881 370165220 369212585 9883888 41254267 631734129 667676047 244512256 248614584 387221873 419061463 X TO PROVIDE DISTINCTIVE AND RELEVANT EDUCATION IN AN ENVIRONMENT OF SCIENTIFIC, TECHNOLOGICAL, AND PROFESSIONAL KNOWLEDGE CREATION AND INNOVATION. false false 232405383 129709267 206207216 INSTRUCTION SUPPORT:- Illinois Institute of Technology's (IIT) seven colleges allow students to discover new frontiers in engineering, computing, architecture, business, law, design, and science and human sciences. The school's nationally ranked undergraduate and graduate programs offer exceptional teaching that combines hands-on learning with training in entrepreneurship, design thinking, and technology. The University's emphasis on collaboration and interdisciplinary study and research will prepare students to work across traditional boundaries and to experience a professional future where success knows no limits. The University's signature Interprofessional Projects Program (IPRO) joins together students from various academic disciplines to work as a team to tackle real-world problems, often on behalf of companies and nonprofits that sponsor the projects, using design-centered methodology and innovative thinking. All undergraduate students are required to take six credit hours of IPRO courses. Each IPRO course is a unique project with teams that include the faculty and enrolled students. The courses encourage intellectual inquiry with research on the project subject, analysis, design, and development. Such experiential learning reinforces traditional education methods, providing students a richer academic experience allowing them to gain knowledge that goes beyond the regular classroom experience. IIT's Grainger Maker Space and the Duchossois Idea Shop facility serves as a catalyst for innovation and is composed of state-of-the-art rapid prototyping labs that include 3D printers, CNC mills, electronics workstations and many hand fabrication tools; a Dell laptop lab; an iPad library; a computer lab for mobile app development and video editing; collaborative teaming areas; and flexible open spaces. Under the College of Architecture is the university's Design/Build Studio where students can experience firsthand the entire life cycle of a small-building project. The projects are entirely designed and built by architecture students at the Illinois Institute of Technology's College of Architecture. These projects are located all over the world. From Chicago, to Germany, to Ghana, to Indonesia, to Chile, and Puerto Rico, students have traveled near and far to perform their designs. Design Build focuses on inspiring and teaching through its architecture. Instruction supports over 50 academic majors, more than 75 minors, and a variety of specializations and is made up of over 6,300 students, including 3,121 undergraduate, 2,416 graduate, 788 law students, and 17 students in continuing education programs. The University offered and awarded 623 bachelor, 1,159 master, 222 J.D., and 84 Ph.D. degrees during the 2020 academic year. 41251800 35883712 RESEARCH:- Research is the hallmark of our culture of excellence. Our faculty, students, and staff are leading bold research and discovery in fields where technology and innovation are creating significant, meaningful change. Throughout our colleges and research centers, and in topics as varied as energy, theoretical physics, and social justice, our research reflects our commitment to scientific, technological, and professional knowledge creation and innovation. Research awards received in fiscal year 2020 were $32 million. The University received awards in the areas of science, engineering, technology, and mathematics all of which are synergistic with the strategic plan. Notably, the Electrical and Computer Engineering Department received 22 awards totaling $3.8 million and the Computer Science Department received 28 awards for $1.3 million. Also, the Biomedical Engineering Department received 21 awards for $3 million, the Biological Science Department 13 awards for $2.4 million, Mechanical Material and Aerospace Engineering 35 awards totaling $2.8 million, Physics Department 30 awards totaling $3.4 million and the Department of Psychology 8 awards for $1.2 million. In addition, the National Center for Food Safety and Technology received 21 awards totaling $5.7 million. 14662116 14056420 AUXILIARY SERVICES:- This provides for campus housing and dining for the students and includes residence halls and a dining room, apartment-style buildings, seven fraternity houses, and two sorority houses. 14343189 19551218 STUDENT SERVICES:- This program provides health, academic, career services, transitional assistance, student orientation and other student services including the student finance center, admissions, and registration. 13344505 7151182 ACADEMIC SUPPORT:- IIT provides students with the information skills to compete in today's challenging and rapidly changing environment through its several libraries and academic computing centers allowing students access to terminals. In addition, the Academic Resource Center office offers several programs that provide peer tutoring, exam reviews, advising and counseling. 27687694 26702400 316006993 true true false true false false false false true true false false false true true false true true true true false false true true false false false true true true false false false false false false false false false true true false false false false true true true false false true X 6725 0 true 3986 true true true true IN false false false true true false false false false false false X 67 65 true false true false false false false true true false false true true true true true true true true false MD SC X MICHAEL HORAN 3125673825 3424 SOUTH STATE STREET TC-4TH FL CHICAGO IL 60616 A Steven Crown Vice Chair 1.0 0.0 X X 0 0 0 Alan Cramb President 39.0 1.0 X X 862033 0 48160 Ellen M Jordan Vice Chair 1.0 0.0 X X 0 0 0 Michael P Galvin Chairman of the Board 1.0 0.0 X X 0 0 0 Thomas E Lanctot Vice Chair 1.0 0.0 X X 0 0 0 Alan W Wendorf Trustee 1.0 0.0 X 0 0 0 Andrea L Berry Trustee 1.0 0.0 X 0 0 0 Anita M Nagler Trustee 1.0 0.0 X 0 0 0 Brian C Walker Trustee 1.0 0.0 X 0 0 0 Bruce C Liimatainen Trustee 1.0 0.0 X 0 0 0 Bryan R Dunn Trustee 1.0 0.0 X 0 0 0 Carl S Spetzler Trustee 1.0 0.0 X 0 0 0 Carole Browe Segal Trustee 1.0 0.0 X 0 0 0 Carter H Eckert Trustee 1.0 0.0 X 0 0 0 Craig J Duchossois Trustee 1.0 0.0 X 0 0 0 David J Miniat Partial Year Trustee 1.0 0.0 X 0 0 0 David J Vitale Trustee 1.0 0.0 X 0 0 0 David L Crowell Trustee 1.0 0.0 X 0 0 0 Douglas M Monieson Trustee 1.0 0.0 X 0 0 0 Edward L Kaplan Trustee 1.0 0.0 X 0 0 0 Efthimios J Stojka Trustee 1.0 0.0 X 0 0 0 Eric C Larson Trustee 1.0 0.0 X 0 0 0 Eric G Vassilatos Trustee 1.0 0.0 X 0 0 0 Frank Clark III Trustee 1.0 0.0 X 0 0 0 Harold Singleton III Trustee 1.0 0.0 X 0 0 0 James Dugan Trustee 1.0 0.0 X 0 0 0 James E Cowie Trustee 1.0 0.0 X 0 0 0 James Hill Jr Trustee 1.0 0.0 X 0 0 0 Jamshyd N Godrej Trustee 1.0 0.0 X 0 0 0 Jeffrey A Karp Trustee 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Chair & Filmer Professor 39.0 0.0 X 301728 0 33321 Mohammad Shahidehpour Distinguished Bodine Professor 39.0 0.0 X 387910 0 47933 Philip Nash Professor 39.0 0.0 X 308583 0 9905 Russell Betts Distinguished Professor / Former officer 38.8 0.0 X 258926 0 19845 Wiel Arets Professor / Former key employee 38.8 0.0 X 216780 0 19287 7652487 0 776449 375 true true false Corvias Development LLC 1405 South County Trail East Grenwich RI 02818 Construction 9018038 Chartwells Dining PO Box 91337 Chicago IL 60693 Food Service Provider 8539205 GCA Services Group 1350 Euclid Avenue Cleveland OH 44115 Janitorial service 4014782 SOS Security LLC PO Box 6373 Parsippany NJ 07054 Security service 2527961 Ventas Inc 353 North Clark Street Chicago IL 60654 Real estate rental service 2395218 100 442899 41237650 69612933 4804996 111293482 Tuition and Fees 611310 248217307 248217307 Sales/Services of Auxiliary Enterprises 722320 14397439 14056420 341019 Student Services 611710 18951622 18951622 Equity Interest on IITRI 900000 1624399 1624399 0 0 0 0 283190767 5330045 5330045 1219052 108517 1110535 0 1110535 -2238 1112773 80983000 477801 71583858 73859 9399142 403942 9803084 2121 9800963 32000 442899 293061 -261061 -261061 0 0 0 0 0 410466852 282849748 340902 15982720 129709267 129709267 6982960 2308932 2681668 1992360 379680 151872 113904 113904 115212500 95038891 17105873 3067736 6014466 4694895 1105616 213955 14078199 11923440 1683056 471703 6113210 4766694 1113174 233342 52040 33165 18875 184819 681 184138 121500 121500 76422 76422 847720 847720 27279372 18762600 8139607 377165 846778 719157 126807 814 5923531 4215376 1155375 552780 3210443 1132705 2048487 29251 26541599 23533679 3007920 2164903 1792399 274376 98128 191756 150281 35097 6378 7779841 5431660 2348181 14831368 11641299 3190069 670211 670211 0 0 0 0 369212585 316006993 45971654 7233938 3012287 2144758 293787 22522934 35606057 6364548 8250278 0 0 0 0 1999627 2790579 622426740 306749264 302662613 315677476 245466896 254479292 1053908 478865 25970724 26004044 22386805 22244698 631734129 667676047 30203930 32017956 10370141 11240117 175374998 161688999 0 14000000 19775000 14563187 23892512 244512256 248614584 X 151624332 163466890 235597541 255594573 387221873 419061463 631734129 667676047 X 41254267 -8721322 -693355 X false true X true true true X 70771692 58277789 63052564 84788322 111293482 388183849 0 0 70771692 58277789 63052564 84788322 111293482 388183849 34905914 353277935 5450043 5610143 7715863 7199534 6549097 32524680 0 0 0 0 0 0 0 0 45025 56440 32000 133465 420841994 1409375921 0.8395 0.909 X Schedule A, Part II, Line 10 Other Income DESCRIPTION - GROSS INCOME FROM FUNDRAISING EVENTS, COLUMN A - , COLUMN B - , COLUMN C - 45025.0, COLUMN D - 56440.0, COLUMN E - 32000.0, COLUMN F - 133465.0; RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 121500 false false 121500 false Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY THOMSON COBURN WAS RETAINED TO HELP WITH FEDERAL LOBBY REGISTRATION AND DISCLOSURE REQUIREMENTS. IIT WAS REPRESENTED BY ALL CIRCO INC. AND NOBLE VENTURES FOR DEVELOPMENT OF LEGISLATIVE STRATEGY AND AS LIAISON WITH THE OFFICE OF THE GOVERNOR AND OTHER STATE AND CITY AGENCIES AS DIRECTED BY IIT. IN ADDITION, IIT'S VICE PRESIDENT AND ASSOCIATE VICE PRESIDENT FOR EXTERNAL AFFAIRS INTERACT WITH FEDERAL, STATE, AND LOCAL OFFICIALS REGARDING SUCH MATTERS. 242994501 18590000 6574000 6212900 5983100 255962501 251798501 1349000 2074000 6065360 6161640 242994501 243746501 5825000 14727000 5671397 6828603 251798501 226847501 2246000 27253000 5903690 6696310 243746501 240752501 4929000 -6234000 5407125 7192875 226847501 0.25 0.75 0.0 false false 19594593 19594593 475009611 237980641 237028970 4497011 4497011 0 94067261 63679296 30387965 29258264 592316 28665948 315677476 Advances from U.S. Government for student loans 5356078 Obligation under split interest 684420 Deposits by students & others 1354499 Postretirement benefit obligation 1055570 Asset retirement obligation 936983 Lease liability 1422379 Bond Premium Payable 14938017 Cost of Issuance -1855434 23892512 X Schedule D, Part V, Line 4 Intended uses of endowment funds The purpose of the endowment funds is to facilitate donors' desires to make substantial long-term gifts to the University and to develop a new and significant source of revenue for the University. In doing so, the endowment fund will provide a secure, long-term source of funds to: (a) fund special programs; (b) ensure long-term growth; (c) enhance the University's ability to meet changing community needs; and (d) support the administrative expenses of the University as deemed appropriate. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The University has received a determination letter from the Internal Revenue Service (IRS) stating that they are exempt from federal income tax under Section 501(c)(3) of the Internal Revenue Code except for tax on unrelated business income. It is management's belief that none of its activities have produced material unrelated business income, and that the University has operated in a manner that qualifies it for tax-exempt status. U.S. generally accepted accounting principles require University management to evaluate tax positions taken by the University and recognize a tax liability (or asset) if the University has taken an uncertain position that more likely than not would not be sustained upon examination by the IRS. Management has analyzed tax positions taken by the University and has concluded that as of May 31, 2020 and 2019, there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) or disclosure in the consolidated financial statements. The University is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress. The University management believes it is no longer subject to income tax examinations for years prior to 2017. true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY POLICY PUBLISHED YEARLY IN VARIOUS STUDENT BULLETINS. IT ALSO APPEARS ON APPLICATIONS, AND OTHER FORMS, AND IT IS POSTED ON THE UNIVERSITY'S WEBSITE. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT Department of Education:- Federal Supplemental Education Opportunity Grants Federal Direct Loans Federal Work Study Program Federal Pell Grant Program Federal Higher Education- Emergency Relief Funds Illinois Student Assistance Commission:- Illinois Monetary Award Program Grants Grant Program for Descendants of Police, Fire, or Correctional Officers Europe (Including Iceland and Greenland) 0 2 Program Services STUDENT RECRUITING. 145145 South Asia 3 3 Program Services FACILITATE DELIVERY OF ON-LINE EDUCATIONAL PROGRAMS AND STUDENT RECRUITING. 257936 East Asia and the Pacific 0 3 Program Services STUDENT RECRUITING AND ON-LINE MAS DEGREE PROGRAM. 373636 South America 0 1 Program Services STUDENT RECRUITING. 62205 Central America and the Caribbean Investments 3337000 3 9 0 0 3 9 4175922 0 4175922 true false true true false false Schedule F, Part I, Line 3 DESCRIPTION OF ACTIVITY OUTSIDE UNITED STATES EUROPE/SOUTH AMERICA: IIT IS MAINLY ENGAGED IN THE RECRUITMENT OF EUROPEAN AND LATIN AMERICAN STUDENTS TO THE PROGRAMS OF THE UNIVERSITY OFFERED AT IIT'S CHICAGO CAMPUS. SOUTH ASIA: TO FACILITATE IIT'S ABILITY TO DELIVER LONG DISTANCE INTERNET-BASED EDUCATIONAL PROGRAMS TO RESIDENTS OF VARIOUS CITIES IN INDIA AND THE RECRUITMENT OF INDIAN STUDENTS TO THE PROGRAMS OF THE UNIVERSITY OFFERED AT IIT'S CHICAGO CAMPUS. EAST ASIA AND PACIFIC: IIT IS MAINLY ENGAGED IN THE RECRUITMENT OF STUDENTS FROM EAST ASIA AND THE PACIFIC TO THE PROGRAMS OF THE UNIVERSITY OFFERED AT IIT'S CHICAGO CAMPUS. X X X X X X X true Ruffalo Noel Levitz LLC 1025 Kirkwood Pkwy SW Cedar Rapids IA 52404 PHONE SOLICITING false 29396 24787 4609 WASHBURN & MCGOLDRICK LLC 24 N Bryn Mawr Avenue Suite 252 Bryn Mawr PA 19010 CONSULT ON RAISING FUNDS false 30395 -30395 Ruffalo Noel Levitz 1025 Kirkwood Pkwy SW Cedar Rapids IA 52404 FUND RAISING SOFTWARE false 21240 -21240 29396 76422 -47026 CT FL MD OR SC Tech-X Award 395682 363682 32000 25000 63625 138157 Global Gathering 31500 31500 0 9616 8142 626 6888 2 47717 47717 0 902 5633 4000 30472 474899 442899 32000 35518 77400 4626 175517 293061 -261061 Schedule G, Part I, Line 2b(v) Amounts paid to fundraiser Washburn & McGoldrick LLC was engaged to increase private philanthropic support for IIT's operating budget, endowment and facilities. All of these resources are intended to enhance the educational purposes of the institution. Washburn & McGoldrick LLC do not at any time have custody or control of contributions. IIT exercises control and approval over the content and volume of any solicitation as Washburn & McGoldrick LLC never conducts solicitations on IIT's behalf. Payments for services are based on a monthly retainer and a per diem rate. Expenses are billed separately as expended and at cost, for travel, overnight accommodations, meals, and out-of-pocket expenses. Ruffalo Noel Levitz LLC conducted telephone fundraising campaigns for IIT and provided services to secure pledges and donations to support the educational mission of IIT. Their services related to the concept, design and strategies of the campaign and telephone solicitations to individuals identified on lists supplied by IIT. All funds raised were controlled by IIT. Ruffalo Noel Levitz LLC was paid fees for services provided in conducting the telephone fundraising campaigns. In addition, Ruffalo Noel Levitz LLC's proprietary, white-labeled crowdfunding software and Giving Day Module allowed IIT to showcase institutional initiatives through a custom-branded website and thematic framework. Schedule G, Part I, Line 2b(ii) Describe the custody or control arrangement. RUFFALO NOEL LEVITZ, LLC-RUFFALO NOEL LEVITZ LLC CONDUCTED TELEPHONE FUNDRAISING CAMPAIGNS FOR IIT AND PROVIDED SERVICES TO SECURE PLEDGES AND DONATIONS TO SUPPORT THE EDUCATIONAL MISSION OF IIT. THEIR SERVICES RELATED TO THE CONCEPT, DESIGN AND STRATEGIES OF THE CAMPAIGN AND TELEPHONE SOLICITATIONS TO INDIVIDUALS IDENTIFIED ON LISTS SUPPLIED BY IIT. ALL FUNDS RAISED WERE CONTROLLED BY IIT. RUFFALO NOEL LEVITZ LLC WAS PAID FEES FOR SERVICES PROVIDED IN CONDUCTING THE TELEPHONE FUNDRAISING CAMPAIGNS.;WASHBURN & MCGOLDRICK LLC-WASHBURN & MCGOLDRICK LLC WAS ENGAGED TO INCREASE PRIVATE PHILANTHROPIC SUPPORT FOR IIT'S OPERATING BUDGET, ENDOWMENT AND FACILITIES. ALL OF THESE RESOURCES ARE INTENDED TO ENHANCE THE EDUCATIONAL PURPOSES OF THE INSTITUTION. WASHBURN & MCGOLDRICK LLC DO NOT AT ANY TIME HAVE CUSTODY OR CONTROL OF CONTRIBUTIONS. IIT EXERCISES CONTROL AND APPROVAL OVER THE CONTENT AND VOLUME OF ANY SOLICITATION AS WASHBURN & MCGOLDRICK LLC NEVER CONDUCTS SOLICITATIONS ON IIT'S BEHALF. PAYMENTS FOR SERVICES ARE BASED ON A MONTHLY RETAINER AND A PER DIEM RATE. EXPENSES ARE BILLED SEPARATELY AS EXPENDED AND AT COST, FOR TRAVEL, OVERNIGHT ACCOMMODATIONS, MEALS, AND OUT-OF-POCKET EXPENSES.;RUFFALO NOEL LEVITZ-RUFFALO NOEL LEVITZ ALSO PROVIDED SERVICES FOR WHITE-LABELED CROWDFUNDING SOFTWARE AND GIVING DAY MODULE TO SHOWCASE INSTITUTIONAL INITIATIVES THROUGH A CUSTOM-BRANDED WEBSITE AND THEMATIC FRAMEWORK.; Schedule G, Part I, Line 2b(v) payment of fees or payment of expenses RUFFALO NOEL LEVITZ, LLC-PAYMENT OF FEES.;WASHBURN & MCGOLDRICK LLC-PAYMENT OF FEES.;RUFFALO NOEL LEVITZ-PAYMENT ONLY FOR SOFTWARE.; true SCHOLARSHIPS 6587 129709267 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. THE USE OF GRANT FUNDS IS MONITORED THROUGH A GRANT MANAGEMENT SYSTEM. X true true X X X false false false false false false false false false Alan Cramb President 664175 0 172000 0 25858 0 25200 0 22960 0 910193 0 0 0 Peter Kilpatrick Provost, SVP Academic Affairs 435613 0 0 0 22564 0 25200 0 14269 0 497646 0 0 0 Darsh Wasan Vice President for International Affairs/Distinguised Professor,ChBE 276389 0 25773 0 2999 0 25200 0 15274 0 345635 0 0 0 Michael Horan VP Finance, CFO, Treasurer 297824 0 0 0 3564 0 25200 0 7157 0 333745 0 0 0 Michael Gosz VP, Enrlmt/Vice Prov/AssocProf 286260 0 0 0 1242 0 25200 0 21281 0 333983 0 0 0 Ophir Trigalo Vice Provost, CIO 278893 0 0 0 2322 0 25200 0 22961 0 329376 0 0 0 Edwin Watts VP Admnstrn/Facilities/Pub Safety 283359 0 0 0 3564 0 25200 0 155 0 312278 0 0 0 Anthony D'Amato Vice Pres, Genr'l Cnsl & Secretary 261934 0 0 0 810 0 24013 0 7489 0 294246 0 0 0 Jess Goode Vice President, Extn'l Affairs 226439 0 0 0 707 0 20379 0 0 0 247525 0 0 0 Betsy Hughes Vice Pres, Inst Advancement termed on 5/10/19 172920 0 33615 0 968 0 15915 0 9567 0 232985 0 0 0 Natacha DePaola Kaplan Dean of Engineering 403301 0 0 0 21322 0 25200 0 22733 0 472556 0 0 0 Harold Krent Dean College of Law thru 7/31/19/Professor of Law 338803 0 0 0 34939 0 25200 0 17718 0 416660 0 0 0 Robert Brackett Vice President/Professor 318076 0 0 0 5654 0 25200 0 7655 0 356585 0 0 0 John Bilson Dean 304448 0 0 0 5752 0 25200 0 15274 0 350674 0 0 0 Michelangelo Sabatino Dean College of Architecture thru 7/31/19/Professor Architecture 222501 0 70752 0 1003 0 20682 0 14428 0 329366 0 0 0 Heather Harper Associate Clinical Professor 155170 0 345585 0 302 0 14850 0 22733 0 538640 0 0 0 Mohammad Shahidehpour Distinguished Bodine Professor 384346 0 0 0 3564 0 25200 0 22733 0 435843 0 0 0 Hamid Arastoopour Director, WISER/Professor 316311 0 0 0 24517 0 25200 0 15429 0 381457 0 0 0 Philip Nash Professor 287816 0 0 0 20767 0 9905 0 0 0 318488 0 0 0 Jafar Saniie Dept. Chair & Filmer Professor 211225 0 68282 0 22221 0 18047 0 15274 0 335049 0 0 0 Wiel Arets Professor / Former key employee 213778 0 0 0 3002 0 19287 0 0 0 236067 0 0 0 Russell Betts Distinguished Professor / Former officer 201234 0 35000 0 22692 0 19845 0 0 0 278771 0 0 0 Schedule J, Part I, Line 1a Health or social club dues or initiation fees The University provided membership dues for Alan Cramb, President, and Peter Kilpatrick, Provost to one business and one civic organization. These memberships served a business purpose that helped to support the mission of the University. A ILLINOIS FINANCE AUTHORITY 861091967 000000000 2019-01-31 22278000 REFUND A PRIOR TAX-EXEMPT ISSUE DATED 7/22/2009 AND FOR FACILITY RENOVATION AND EQUIPMENT. false false false B ILLINOIS FINANCE AUTHORITY 861091967 000000000 2018-06-28 17972000 REIMBURSEMENT FOR THE ACQUISITION OF STUDENT RESIDENT FACILITIES. false false false C ILLINOIS FINANCE AUTHORITY 861091967 45204E7F9 2019-12-20 138525900 REFUND A PRIOR TAX-EXEMPT ISSUE DATED 3/23/2006 AND TO REIMBURSE ISSUANCE AND REFUNDINGS COSTS. false false false A 0 0 22278000 0 0 0 300999 0 0 321404 21655597 0 2019 true false true true B 1476000 0 17972000 0 0 0 92573 0 0 17879427 0 0 2018 false false true true C 0 0 138525900 0 0 0 1519760 0 0 0 137006140 0 2020 true false true true A false false false false 0.0 0.0 0.0 false false true B false false false false 0.0 0.0 0.0 false false true C false false false false 0.0 0.0 0.0 false false true A false false false true true false false false true B false false false true true false false false true C false true false false false false false false true A true B true C true Schedule K, Part II, Line 3 All listed bonds on Schedule K. If the total proceeds of the issue exceeds the issue price of the respective bond, the difference is due to investment earnings. Earnings are included in the total proceeds of each issue. Schedule K, Part IV, Line 2c COLUMN A Issuer name: ILLINOIS FINANCE AUTHORITY The calculation for computing no rebate due was performed on 02/25/2019 Schedule K, Part IV, Line 2c COLUMN B Issuer name: ILLINOIS FINANCE AUTHORITY The calculation for computing no rebate due was performed on 02/25/2019 POWER UJAMAA 3 LLC Trustee James A. Akintonde is an executive of Power Ujamaa 3 LLC's parent company. 387945 INDEPENDENT CONTRACTOR false Schedule L, Part IV BUSINESS TRANSACTIONS WITH INTERESTED PERSONS BUSINESS TRANSACTIONS WITH INTERESTED PERSONS SCHEDULE L, PART IV THE TRANSACTIONS LISTED IN SCHEDULE L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS, WERE CONSISTENT WITH THE CONFLICT OF INTEREST POLICY DESCRIBED IN SCHEDULE O. ILLINOIS INSTITUTE OF TECHNOLOGY REQUIRES COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY FOR ALL BUSINESS TRANSACTIONS WITH INTERESTED PERSONS. IN FY 2020, TRUSTEE JAMES A. AKINTONDE WAS AN EXECUTIVE FOR THE PARENT COMPANY WHICH HAD A JOINT VENTURE, POWER UJAMAA 3 LLC. POWER UJAMAA 3 LLC WAS AWARDED A CONTRACT, PURSUANT TO AN RFP, TO CONSTRUCT A CAMPUS INNOVATION CENTER. PAYMENTS FOR THIS CONSTRUCTION WERE MADE FROM TEMPORARILY RESTRICTED GIFTS THAT WERE RECEIVED AS A RESULT OF AN INTERNAL CAPITAL CAMPAIGN. X 71 4780096 Market value X Five IC Sentinel sensor units 1 20000 Market value X Yamaha Piano 1 4900 Market value 0 false true false Schedule M, Part I Explanations of reporting method for number of contributions Securities - Publicly traded - number of contributions Other - Five IC Sentinel sensor units number of contributions Other - Yamaha Piano number of contributions Form 990, Part III, Line 4d Description of other program services (Expenses $ 14,343,189 including grants of $)(Revenue $ 19,551,218) STUDENT SERVICES:- This program provides health, academic, career services, transitional assistance, student orientation and other student services including the student finance center, admissions, and registration. Form 990, Part III, Line 4d Description of other program services (Expenses $ 13,344,505 including grants of $)(Revenue $ 7,151,182) ACADEMIC SUPPORT:- IIT provides students with the information skills to compete in today's challenging and rapidly changing environment through its several libraries and academic computing centers allowing students access to terminals. In addition, the Academic Resource Center office offers several programs that provide peer tutoring, exam reviews, advising and counseling. Form 990, Part VI, Line 1a Delegate broad authority to a committee As stated in Article 5, Section 5 of the organizations By-Laws, there shall be an Executive Committee of the Board of Trustees. With the caveat that the Board of Trustees may override the Executive Committee and except as otherwise provided in Article 5, Section 6, the Board of Trustees delegates to the Executive Committee all the powers vested in the Board of Trustees by law or by these Bylaws in the management of the property, business and affairs of the corporation. The Executive Committee shall include, as ex officio members, the Chair of the Board, the immediate past Chair, any Vice Chairs, the Chairs of all committees listed in Article 5, Sections 3 and 4, and the President. If the Chair of the Board of the IIT Alumni Association is a regularly elected or life trustee, then that individual shall be an ex officio member of the Executive Committee for the term of his or her office as Chair of the Board of the IIT Alumni Association. Up to eight additional members of the Executive Committee shall be annually elected for three-year terms by the Board of Trustees from the regularly elected members of the Board. Form 990, Part VI, Line 2 Family/business relationships amongst interested persons A. Steven Crown and Craig J. Duchossois - Business relationship, Patrick J. Kelly, James E. Cowie, Craig J. Duchossois, and Thomas E. Lanctot - Business relationship, Victor A. Morgenstern and Anita M. Nagler - Business relationship, Eric C. Larson and Craig J. Duchossois - Business relationship, Kevin W. Willer, Craig J. Duchossois, and Carole Browne Segal - Business relationship, S. Christopher Gladwin and James Dugan - Business relationship Form 990, Part VI, Line 4 Significant changes to organizational documents The bylaws were amended to adjust the size of the Board so that is it consistent with current circumstances and applicable Illinois law. Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 IS REVIEWED BY THE VP FINANCE, CFO & TREASURER, INTERIM CONTROLLER, ASSOCIATE CONTROLLER, AND BY THE VP GENERAL COUNSEL & SECRETARY. ONCE THE FORM 990 IS APPROVED BY MANAGEMENT, THE FORM IS PRESENTED TO THE AUDIT AND COMPLIANCE COMMITTEE AND THE EXECUTIVE COMMITTEE (ACTING FOR THE FULL BOARD OF TRUSTEES) FOR REVIEW. WHEN THIS REVEIW IS COMPLETED, IT IS PUT ON A TRUSTEE WEBSITE GIVING ALL THE TRUSTEES THE OPPORTUNITY TO REVIEW. ONCE ALL REVIEWS ARE COMPLETED, THE VP FINANCE, CFO & TREASURER SIGNS THE FORM 990. Form 990, Part VI, Line 12c Conflict of interest policy ON AN ANNUAL BASIS, IIT EMPLOYEES AND BOARD OF TRUSTEE MEMBERS MUST REVIEW THE CONFLICT OF INTEREST POLICY. ALL EMPLOYEES AND TRUSTEES ARE REQUIRED TO SIGN AND DATE A CONFLICT OF INTEREST ATTESTATION DOCUMENT WHETHER A CONFLICT IS PRESENT OR NOT. GENERAL COUNSEL MONITORS THE EMPLOYEES AND TRUSTEES THAT HAVE REVIEWED THE POLICY AND DOCUMENTS THE CONFLICT OF INTEREST INSTANCES. Form 990, Part VI, Line 15a Process to establish compensation of top management official THE BOARD OF TRUSTEES HAS ESTABLISHED AN INDEPENDENT COMPENSATION COMMITTEE THAT IS RESPONSIBLE FOR RECOMMENDING THE PRESIDENT'S (CEO) SALARY. THE COMMITTEE WILL BASE THE SALARY ON A HUMAN RESOURCE BENCHMARK STUDY COMPARING SELECTED UNIVERSITIES HAVING SIMILAR STUDENT ENROLLMENTS AND PROGRAMS. ON AN ANNUAL BASIS, HUMAN RESOURCES WILL PROVIDE THE COMMITTEE AN UPDATED BENCHMARK SURVEY FOR THEIR REVIEW. BASED ON THE ANNUAL SURVEY, THE COMMITTEE MAY RECOMMEND AN ADJUSTMENT TO THE PRESIDENT'S SALARY. AFTER THE EXECUTIVE COMMITTEE REVIEWS THE COMPENSATION COMMITTEE RECOMMENDATIONS, IT VOTES TO APPROVE THE COMPENSATION. Form 990, Part VI, Line 15b Process to establish compensation of other employees The authority to recommend the annual salaries of the Vice Presidents and other senior officers is delegated to an independent Compensation Committee by the Board of Trustees. The Committee, with input from the President, obtains comparative analyses and studies from the Human Resource department with respect to compensation of similar organizations to ensure that the University's compensation is comparable. After the Executive Committee reviews the compensation committee recommendations, it votes to approve the compensation. Form 990, Part VI, Line 19 Required documents available to the public FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY AND GOVERNING DOCUMENTS ARE LOCATED ON THE ILLINOIS INSTITUTE OF TECHNOLOGY'S WEBSITE. Form 990, Part XI, Line 9 Other changes in net assets or fund balances CHANGE IN ASSET RETIREMENT OBLIGATION, NET - 740391; OTHER, NET - -317776; EXTINGUISHMENT OF DEBT - 822000; RESTRUCTURING EXPENSES - -1937970; IIT RESEARCH INSTITUTE 10 WEST 35TH STREET CHICAGO IL 60616 362169122 RESEARCH IL 501(c)(3) 11 ILLINOIS INSTITUTE OF TECHNOLOGY true PERPETUAL TRUST (7) BENEFICIAL INTEREST IN DONOR TRUSTS C/O IIT 3424 SOUTH STATE STREET TC-4 FL CHICAGO IL 60616 DISTRIBUTION OF TRUST ASSETS TO BENEFICIARIES IL NA Trust false ILLINOIS INSTITUTE OF TECHNOLOGY (INDIA) PRIVATE LTD 677 16th Main 6th Cross 3rd Block Koramangala Behind BDA complex BENGALORE IN 560034 FACILITATES EDUCATIONAL PROGRAMS IN ILLINOIS INSTITUTE OF TECHNOLOGY C Corporation 236239 159716 1 true true false false false false false false false false true false true false true false true true false false IIT India P 260000 FMV IIT Research Institute A 242598 FMV IIT Research Institute J 242598 FMV IIT Research Institute L 575871 FMV IIT Research Institute Q 1709069 FMV