2017-05-15T10:05:02-05:00 2016-06-30 PricewaterhouseCoopers LLP 101 SEAPORT BOULEVARD BOSTON MA 02210 990 2015-07-01 050258956 Rhode Island School of Design % SAMUEL B SOLOMON CFO RHOD 4014546766 TWO COLLEGE STREET PROVIDENCE RI 02903 SAMUEL B SOLOMON CFO 4014546766 2017-05-09 true ERIN COUTURE P01390592 6175305000 2017-05-08 2015 2021-01-29 14:40:06Z ROSANNE SOMERSON TWO COLLEGE ST PROVIDENCE RI 02903 399568347 false X WWW.RISD.EDU X 1877 RI SEE SCHEDULE O. 23 22 3500 25 677937 73772 12894987 7179513 139998096 145476975 5059177 424789 502440 567938 158454700 153649215 19974273 21187972 0 0 79715759 81848119 0 0 2969016 56031415 54255404 155721447 157291495 2733253 -3642280 592921948 569276493 202334352 195151437 390587596 374125056 X SEE SCHEDULE O. false false 127854541 21187972 142313736 EDUCATION - PROVIDE EDUCATIONAL SERVICES TO APPROXIMATELY 2,481 FULLTIME STUDENTS, 2,045 SUMMER 2015 STUDENTS AND 2,022 EXTENSION SCHOOL STUDENTS. 8683747 3163239 MUSEUM - THE RISD MUSEUM EDUCATES AND INSPIRES STUDENTS AND THE PUBLIC THROUGH EXHIBITIONS, LECTURES, TOURS, WORKSHOPS AND PUBLICATIONS. 136538288 true true false true false false false true false true true true false false true false false true true true true false false false false false false false true true true false false false false false false false false false false true true false false true true true true false false true 2764 0 true 3500 true true true true IT false false false false false false false false X 23 22 false false false false false true false true true false false true true true true true false true true false CA X SAMUEL B SOLOMON CFO 4014546766 2 COLLEGE ST PROVIDENCE RI 029032790 X MICHAEL SPALTER TRUSTEE/CHAIR OF BOARD 2.0 0.0 X X 0 0 0 MARGARET A WILLIAMS TRUSTEE/VICE CHAIR OF BOARD 2.0 0.0 X X 0 0 0 LISA PEVAROFF-COHN TRUSTEE/VICE CHAIR OF BOARD 2.0 0.0 X X 0 0 0 DAVID C BARCLAY TRUSTEE 2.0 0.0 X 0 0 0 V DUNCAN JOHNSON TRUSTEE UNTIL (10/07/15) 2.0 0.0 X 0 0 0 LOUIS BEAL LIFE TRUSTEE 2.0 0.0 X 0 0 0 JOHN BEUG TRUSTEE 2.0 0.0 X 0 0 0 ERICA DI BONA TRUSTEE 2.0 0.0 X 0 0 0 SUSAN DRYFOOS TRUSTEE 2.0 0.0 X 0 0 0 JOSEPH GEBBIA TRUSTEE 2.0 0.0 X 0 0 0 ROBERT W GLASS TRUSTEE 2.0 0.0 X 0 0 0 RICHARD W HAINING SR TRUSTEE 2.0 1.0 X 0 0 0 JON KAMEN TRUSTEE 2.0 0.0 X 0 0 0 MARY LOVEJOY TRUSTEE 2.0 0.0 X 0 0 0 STEPHEN A METCALF TRUSTEE 2.0 0.0 X 0 0 0 NICOLE J MILLER TRUSTEE 2.0 0.0 X 0 0 0 STEVEN PERELMAN TRUSTEE 2.0 0.0 X 0 0 0 SANDRA P SMITH TRUSTEE 2.0 0.0 X 0 0 0 WILLIAM G TSIARAS MD TRUSTEE 2.0 0.0 X 0 0 0 JEFFREY YAN TRUSTEE 2.0 0.0 X 0 0 0 AMITA CHATTERJEE TRUSTEE 2.0 0.0 X 0 0 0 KAREN HAMMOND TRUSTEE 2.0 1.0 X 0 0 0 MICHAEL NEFF TRUSTEE 2.0 0.0 X 0 0 0 ROSANNE SOMERSON INT PRES(UNTIL 2/15)/PRESIDENT 50.0 1.0 X X 509524 0 67111 JEAN EDDY COO 50.0 0.0 X 375585 0 51418 SAMUEL B SOLOMON CFO 50.0 1.0 X 238869 0 49788 PRADEEP SHARMA PROVOST 50.0 0.0 X 275919 0 47441 JOHN W SMITH MUSEUM DIRECTOR 50.0 0.0 X 255531 0 37462 STEVEN J MCDONALD GENERAL COUNSEL 50.0 0.0 X 218372 0 42985 CANDACE Baer VP HUMAN RESOURCES 50.0 0.0 X 196585 0 44782 ANAIS A MISSAKIAN DEPT. HEAD/ PROFESSOR 50.0 0.0 X 190942 0 46947 PATRICIA PHILLIPS DEAN GRAD STUDIES(UNT 6/30/16) 50.0 0.0 X 162813 0 15695 CAROL STROHECKER VICE PROVOST 50.0 0.0 X 160991 0 24159 2585131 0 427788 101 false true false SHAWMUT DESIGN CONSTRUCTION 560 HARRISON AVENUE BOSTON MA 02118 CONSTRUCTION SVCS 5374069 SITE SPECIFIC LLC 45 DIKE STREET PROVIDENCE RI 02909 CONSTRUCTION SVCS 2213464 SUMMIT ROCK 9 WEST 57TH STREET 12TH FLOOR NEW YORK NY 10019 INVESTMENT MGMT 787569 LOMBARDI CONSTRUCTION CO 13 OYSTER POINT WARREN RI 02885 CONSTRUCTION SVCS 499055 ELLUCIAN INC 4375 FAIR LAKES COURT FAIRFAX VA 22033 SOFTWARE CONSULTING 416142 27 2188318 4991195 1668825 7179513 TUITION/ROOM/BOARD 900099 140932210 140932210 MUSEUM 900099 601970 601970 BOOK/SUPPLY STORE 451211 3942795 3942795 145476975 7134008 116253 7017755 0 0 0 0 0 239209913 243761419 2157713 -4551506 -2157713 -6709219 -6254 -6702965 0 0 0 RISD WORKS 453220 457984 457984 OUTSIDE CATERING 722320 97265 97265 ALL OTHER REVENUE 711120 12689 12689 567938 153649215 141534180 677937 4257585 0 21187972 21187972 0 0 1951592 713669 1064802 173121 0 63249252 58171953 3626217 1451082 4059373 3644655 379665 35053 8358181 7504284 781724 72173 4229721 3797600 395597 36524 0 166094 166094 307736 307736 0 0 1009018 1009018 1525712 1124404 319620 81688 279701 269200 20 10481 13682288 11983666 1310743 387879 5821166 5279902 456577 84687 0 6920577 1682421 5238156 2719043 2462293 58145 198605 0 0 3935515 3533451 368081 33983 0 10515578 9441275 983500 90803 724908 724400 508 WORKS OF ART 732147 731818 329 OTHER RENTAL EXPENSES 865139 675185 127656 62298 MAINTENANCE SERVICES 1943261 1290263 506076 146922 DUES AND MEMBERSHIPS 328293 317718 6104 4471 2779228 2002159 678152 98917 157291495 136538288 17784191 2969016 22013444 25453324 13002652 9007772 2897894 1398047 3079606 3439291 0 0 0 0 4524877 4027828 1492116 1478719 1985120 1211619 383057764 181071604 198900513 201986160 136407334 132090413 188547238 166145175 0 0 0 0 20071154 23038145 592921948 569276493 9767003 8700804 0 0 6404484 6856256 162303782 158253907 0 0 0 0 0 0 0 0 23859083 21340470 202334352 195151437 X 277046934 268148956 69340182 60947461 44200480 45028639 390587596 374125056 592921948 569276493 X -3642280 -11968731 -851529 X false true X true true true X 8514731 8423113 9550572 12894987 7161271 46544674 0 0 8514731 8423113 9550572 12894987 7161271 46544674 3799186 42745488 2103612 4731876 6722679 6688470 7134008 27380645 1129612 263231 94917 74772 1562532 18905 22118 19142 60165 75548016 653760101 0.56581 0.58270 X SCHEDULE A, PART II, LINE 10 OTHER INCOME FOR 2012, 2013, AND 2015 - FUNDRAISING EVENTS RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 9848 true 1902 false 11750 false SCHEDULE C, PART II-B, LINE 1G, H, and I RISD PAYS MEMBERSHIP DUES TO A NUMBER OF ARTS-AND-EDUCATION-RELATED AND PROFESSIONAL ORGANIZATIONS, SOME OF WHICH MAY ENGAGE IN LOBBYING ACTIVITIES ON BEHALF OF ALL MEMBERS. TOTAL MEMBERSHIP DUES PAID BY RISD DURING THE FISCAL YEAR WAS $330,666. WE ARE UNABLE TO DETERMINE THE SPECIFIC AMOUNT OF THAT TOTAL DEVOTED TO LOBBYING, BUT WE BELIEVE IT TO BE A RELATIVELY SMALL AND IMMATERIAL PORTION. A RISD EMPLOYEE DEVOTES A SMALL PORTION OF HER TIME TO PROMOTE RISD'S MISSION BY COMMUNICATING TO FEDERAL GOVERNMENT ENTITIES TO ADVOCATE FOR LEGISLATIVE AND POLICY INITIATIVES THAT SUPPORT HIGHER EDUCATION AND RISD'S AGENDA. X X X X X EDUCATION OF ARTISTS & DESIGNERS false 324954472 2184349 -8145763 3346144 11202308 1009018 303435588 321597157 6119731 12626450 3141377 11138739 1108750 324954472 298532484 3344013 38668235 3620096 14358116 969363 321597157 283497893 1829515 28464383 2469703 11572971 1216633 298532484 304478607 1827786 -4647750 2498635 14660280 1001835 283497893 0.69300 0.14400 0.16300 false false 9675598 9675598 307162764 125448003 181714761 56883478 50938058 5945420 9335924 4685543 4650381 201986160 ALTERNATIVE INVESTMENTS 166145175 F 166145175 0 US GOVERNMENT LOAN FUNDS 2780825 INTEREST RATE SWAP 7352342 ASSET RETIREMENT OBLIGATION 4587607 CAPITAL LEASE OBLIG - LONG-TERM 6619696 21340470 119928650 -11968731 445156 -11523575 131452225 1009018 21187972 22196990 153649215 137075703 1981198 1981198 135094505 1009018 21187972 22196990 157291495 COLLECTIONS OF ART, HISTORICAL TREASURERS OR OTHER ASSETS SCHEDULE D, PART III, LINE 1A THE MAJORITY OF THE SCHOOL'S COLLECTIONS RESIDES IN THE MUSEUM AND CONSISTS OF ARTIFACTS OF HISTORICAL SIGNIFICANCE, ART OBJECTS AND BOOKS THAT ARE HELD FOR EDUCATIONAL, RESEARCH AND CURATORIAL PURPOSES. EACH OF THE ITEMS ARE CATALOGUED, PRESERVED AND CARED FOR AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED PERIODICALLY. THE COLLECTIONS ARE SUBJECT TO A POLICY THAT REQUIRES PROCEEDS FROM THEIR SALES TO BE USED TO ACQUIRE OTHER ITEMS FOR COLLECTIONS. THE SCHOOL EXPENDED $728,838 AND $638,429 FOR ACQUISITIONS DURING THE YEARS ENDED JUNE 30, 2016 AND 2015, RESPECTIVELY. THE SCHOOL SOLD COLLECTIONS IN THE AMOUNT OF $57,600 DURING THE YEAR ENDED JUNE 30, 2016 AND HAD NO SALES DURING THE YEAR ENDED JUNE 30, 2015. THE SALES PROCEEDS WERE SUBSEQUENTLY REINVESTED IN THE COLLECTION. SCHEDULE D, PART III, LINE 4 THE MUSEUM OF ART, ALSO KNOWN AS THE RISD MUSEUM, IS RHODE ISLAND'S LEADING MUSEUM OF FINE AND DECORATIVE ART, HOUSING A COLLECTION OF 95,300 OBJECTS OF INTERNATIONAL SIGNIFICANCE IN SEVEN CURATORIAL COLLECTIONS. IT IS SOUTHEASTERN NEW ENGLAND'S ONLY COMPREHENSIVE ART MUSEUM AND IS ACCREDITED BY THE AMERICAN ASSOCIATION OF MUSEUMS. THE RISD MUSEUM STRIVES TO BE A VITAL CULTURAL RESOURCE BY EDUCATING AND INSPIRING A WIDE VARIETY OF AUDIENCES: FAMILIES AND INDIVIDUALS, SCHOLARS AND RESEARCHERS, ARTISTS AND DESIGNERS, AND STUDENTS OF ALL AGES. THE MUSEUM MAINTAINS AN ACTIVE PROGRAM OF EXHIBITIONS, LECTURES, TOURS, WORKSHOPS AND PUBLICATIONS DEDICATED TO THE INTERPRETATION OF ART AND DESIGN FROM DIVERSE CULTURES RANGING FROM ANCIENT TIMES TO THE PRESENT. ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE INTENT OF THE ENDOWMENT FUND IS TO GENERATE INVESTMENT EARNINGS AS A SOURCE OF REVENUE FOR FUNDING THE SCHOOL'S GENERAL OPERATING ACTIVITIES AND FOR FUNDING SPECIFIC PURPOSES, EITHER RESTRICTED BY DONORS OR INTERNALLY DESIGNATED BY THE BOARD OF TRUSTEES. EXAMPLES OF SPECIFIC PURPOSES INCLUDE SCHOLARSHIP FOR STUDENTS, FACILITIES UPKEEP, RESEARCH, AND SUPPORT FOR THE MUSEUM AND OTHER ACADEMIC OPERATIONS. OTHER LIABILITIES SCHEDULE D, PART X, LINE 2 THE RHODE ISLAND SCHOOL OF DESIGN DOES NOT HAVE A FIN 48 (ASC 740) STATEMENT. SCHEDULE D, PART XI, LINE 2D UNREALIZED DEPRECIATION ON SWAP VALUATION $(254,771) RISD HOLDINGS REVENUE NET OF ELIMINATING ENTRIES $699,927 -------------- TOTAL SCHEDULE D, PART XI, LINE 2D $445,156 SCHEDULE D, PART XI, LINE 4B SCHOLARSHIPS $21,187,972 SCHEDULE D, PART XII, LINE 2D RISD HOLDINGS EXPENSE NET OF ELIMINATING ENTRIES $1,981,198 SCHEDULE D, PART XII, LINE 4B SCHOLARSHIPS $21,187,972 true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 THE SCHOOL'S RACIALLY NONDISCRIMINATORY POLICY CAN BE FOUND IN THE RHODE ISLAND SCHOOL OF DESIGN CATALOG AND STUDENT HANDBOOK. THE POLICY CAN ALSO BE FOUND AT HTTP://WWW.RISD.EDU/ABOUT/DIVERSITY. SCHEDULE E, LINE 6 FINANCIAL AID IS RECEIVED FROM THE US DEPARTMENT OF EDUCATION IN THE FORM OF FEDERAL COLLEGE WORK STUDY, FEDERAL SUPPLEMENTAL EDUCATIONAL OPPORTUNITY GRANTS, FEDERAL PELL GRANTS, FEDERAL PERKINS LOANS, FEDERAL DIRECT LOANS AND FEDERAL PLUS LOANS WHICH ARE ADMINISTERED THROUGH THE DIRECT LOAN PROGRAM. IN ADDITION, THE COLLEGE RECEIVES FINANCIAL AID FROM VARIOUS STATE SCHOLARSHIP PROGRAMS AND OTHER FEDERAL AGENCIES, E.G. VETERANS ADMINISTRATION AND BUREAU OF INDIAN AFFAIRS. Europe (Including Iceland and Greenland) 1 26 Program Services INDEPENDENT STUDY 1359608 South Asia 1 Program Services INDEPENDENT STUDY 28506 East Asia and the Pacific 5 Program Services INDEPENDENT STUDY 96856 Middle East and North Africa 11 Program Services INDEPENDENT STUDY 935284 Central America and the Caribbean Investments 181442921 1 43 1 43 183863175 183863175 true false true true true true SCHEDULE F, LINE 3, COLUMN F RHODE ISLAND SCHOOL OF DESIGN TRACKS EXPENSES FOR EACH INTERNATIONAL PROGRAM USING SEPARATE ACCOUNT NUMBERS. true SCHOLARSHIPS/GRANTS 1158 21187972 BOOK TUITION/FEES MONITORING USE OF GRANTS FINANCIAL AID IS CREDITED TO THE STUDENTS' ACCOUNTS TO COVER ANY OUTSTANDING INSTITUTIONAL CHARGES. ANY CREDIT BALANCE IS REFUNDED TO THE STUDENT TO BE USED FOR OTHER EDUCATIONAL-RELATED EXPENSES. STUDENTS RECEIVING FEDERAL AND/OR STATE AID MUST COMPLETE THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). BY SIGNING THE FAFSA, THE STUDENT AGREES THAT HE OR SHE "WILL USE FEDERAL AND/OR STATE STUDENT FINANCIAL AID ONLY TO PAY THE COST OF ATTENDING AN INSTITUTION OF HIGHER EDUCATION." X X false true X X X X X false false false false false false false true false JEAN EDDY COO 325996 0 40000 0 9589 0 38525 0 12893 0 427003 0 0 0 SAMUEL B SOLOMON CFO 228580 0 10000 0 289 0 26689 0 23099 0 288657 0 0 0 PRADEEP SHARMA PROVOST 275919 0 0 0 0 0 28525 0 18916 0 323360 0 0 0 JOHN W SMITH MUSEUM DIRECTOR 252705 0 2500 0 326 0 27803 0 9659 0 292993 0 0 0 STEVEN J MCDONALD GENERAL COUNSEL 215669 0 2500 0 203 0 23634 0 19351 0 261357 0 0 0 CANDACE Baer VP HUMAN RESOURCES 196382 0 0 203 0 21334 0 23448 0 241367 0 0 0 ANAIS A MISSAKIAN DEPT. HEAD/ PROFESSOR 190781 0 0 0 161 0 22631 0 24316 0 237889 0 0 0 PATRICIA PHILLIPS DEAN GRAD STUDIES(UNT 6/30/16) 162813 0 0 0 0 0 15264 0 431 0 178508 0 0 0 CAROL STROHECKER VICE PROVOST 160991 0 0 0 0 0 15555 0 8604 0 185150 0 0 0 ROSANNE SOMERSON INT PRES(UNTIL 2/15)/PRESIDENT 456121 0 40000 0 13403 0 43525 0 23586 0 576635 0 0 0 COMPENSATION INFORMATION SCHEDULE J, PART I, LINES 1A AND 1B HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE - THE SCHOOL PROVIDED A HOUSING ALLOWANCE in 2015 TO PRESIDENT ROSANNE SOMERSON WHICH IS INCLUDED IN TAXABLE COMPENSATION. THIS IS REPORTED IN SCHEDULE J, PART II, COLUMN (B)(III). HEALTH OR SOCIAL CLUB DUES - THE SCHOOL PAYS SOCIAL CLUB DUES FOR BUSINESS USE BY THE MUSEUM DIRECTOR AND THE COO. THESE AMOUNTS ARE NOT INCLUDED IN TAXABLE COMPENSATION. SCHEDULE J, PART I, LINE 7 ON OCCASION CERTAIN INDIVIDUALS RECEIVE A BONUS OR OTHER FORM OF NON-FIXED PAYMENT IN RECOGNITION OF EXCELLENT JOB PERFORMANCE, AS A SIGN-ON BONUS OR OTHER ONE-TIME PAYMENT. THE AMOUNT OF SUCH BONUSES ARE SHOWN ON SCHEDULE J, PART II, COLUMN (B)(II). A RHODE ISLAND HEALTH AND EDUC BUILDING CORP 2008AB 521300173 762197CG4 2008-03-27 93780000 SEE PART VI false false false B RHODE ISLAND HEALTH AND EDUC BUILDING CORP 2012 521300173 762197KB6 2012-03-28 28791988 2001 BOND REFUNDING false false false C RHODE ISLAND HEALTH AND EDUC BUILDING CORP 2012B 521300173 762197KZ3 2012-08-29 57055694 2004D BOND REFUND false false false A 13190000 0 93780000 0 0 0 692102 87898 0 1935724 91064276 0 2008 true false true true B 2700000 0 28791988 0 0 0 329659 0 0 0 28462329 0 2012 true false true true C 4535000 0 57055694 0 0 0 446745 0 0 0 56608949 0 2012 false true true true A false true false false 0.00200 0.00200 false false false true B 0 C 0 A false false true false true true BARCLAYS 26.5 false false 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 A true B true C true PURPOSE OF BOND SCHEDULE K, PART I, COLUMN F A. 2008AB BOND - FACILITY AQUIS/CONST/EQUIP/RENOV; REFUNDING OF 2004A, 2004B, 2006A, AND 2006B BONDS. SCHEDULE K, PART IV, LINE 2B, COLUMN A BOND PROCEEDS WERE SPENT IN ACCORDANCE WITH THE APPROVED SPENDING REQUIREMENTS, THUS NO REBATE PORTION. X 422 0 X 0 X 20 1668825 FMV X Educational Supplies 4 0 0 X EQUIPMENT 2 0 0 7 false true false SCHEDULE M, PART I, COLUMN B THE ORGANIZATION IS REPORTING THE NUMBER OF CONTRIBUTIONS. SCHEDULE M, PART I, LINE 33 RHODE ISLAND SCHOOL OF DESIGN DOES NOT CAPITALIZE OR ASSIGN A VALUE TO ITS MUSEUM COLLECTIONS, BOOKS AND PUBLICATIONS, OR TO ANY INSIGNIFICANT ITEMS RECEIVED. THESE ITEMS ARE NOT RECOGNIZED AS ASSETS NOR AS REVENUE ON THE SCHOOL'S FINANCIAL STATEMENTS. ALSO SEE DESCRIPTION FOR SCHEDULE D, PART III, LINE 4. ORGANIZATION'S MISSION FORM 990, PARTS I & III, LINE 1 THE MISSION OF RHODE ISLAND SCHOOL OF DESIGN, THROUGH ITS COLLEGE AND MUSEUM, IS TO EDUCATE ITS STUDENTS AND THE PUBLIC IN THE CREATION AND APPRECIATION OF WORKS OF ART AND DESIGN, TO DISCOVER AND TRANSMIT KNOWLEDGE AND TO MAKE LASTING CONTRIBUTIONS TO A GLOBAL SOCIETY THROUGH CRITICAL THINKING, SCHOLARSHIP AND INNOVATION. GOVERNING BODY AND MANAGEMENT FORM 990, PART VI, LINE 1a The Executive Committee shall have and exercise all the authority of the Board between meetings of the Board, except for the authority to amend, alter, or repeal these bylaws; elect, appoint, or remove any Officer of the Board or of the College or any member of any committee of the Board; amend or restate the Colleges articles of incorporation; adopt a plan of merger or a plan of consolidation with another corporation; authorize the sale, lease, exchange, or mortgage of all or substantially all of the property and assets of the College; authorize the voluntary dissolution of the College or revoke proceedings for such dissolution; adopt a plan for the distribution of the assets of the College; or amend, alter, or repeal any resolution of the Board that by its terms provides that it shall not be amended, altered, or repealed by the Executive Committee. FORM 990, PART VI, LINE 7A BOTH RISD ALUMNI COUNCIL PRESIDENT AND IMMEDIATE PAST PRESIDENT FOR 2 YEARS AFTER TERM, SERVE AS EX-OFFICIO TRUSTEES. WRITTEN POLICIES AND PROCEDURES 990 REVIEW PROCESS Form 990, Part VI, Line 11b The process for the FY 2015 Form 990 includes review by senior management, the audit committee, and the independent external tax consultants. The audit committee is presented with a complete draft of the return for its review. The full board receives a final copy of Form 990 before it is filed. CONFLICT OF INTEREST FORM 990, PART VI, LINE 12C ON AN ANNUAL BASIS, THE SCHOOL'S TRUSTEES' OFFICE DISTRIBUTES A SURVEY TO ALL OF THE TRUSTEES AND SENIOR ADMINISTRATORS REQUESTING INFORMATION ON MATTERS RELATING TO THE SCHOOL'S CONFLICT OF INTEREST POLICY. THERE ARE FOLLOW UP PROCEDURES TO ENSURE THAT SURVEYS ARE COMPLETED AND RETURNED FOR REVIEW. THE GENERAL COUNSEL'S OFFICE PROVIDES ASSISTANCE TO TRUSTEES AND SENIOR ADMINISTRATORS BY RESPONDING TO ANY QUESTIONS THEY MAY HAVE. IN ACCORDANCE WITH THE CONFLICT OF INTEREST POLICY, RESULTS OF THE COMPLETED SURVEYS ARE PRESENTED TO THE CHAIRS OF THE AUDIT COMMITTEE AND THE COMMITTEE ON TRUSTEES AND GOVERNANCE, AND THEN TO BOTH OF THOSE COMMITTEES FOR FINAL REVIEW. IN ADDITION TO THE ANNUAL SURVEY, THE TRUSTEES AND SENIOR ADMINISTRATORS ARE REQUIRED TO DISCLOSE ANY ADDITIONAL CONFLICTS THAT MAY ARISE DURING THE COURSE OF THE YEAR. PERIODIC REMINDERS ARE SENT OUT. FURTHER, WHENEVER ANY MATTER INVOLVING A CONFLICT OF INTEREST ON THE PART OF ANY TRUSTEE IS DISCUSSED OR PROPOSED FOR ACTION AT BOARD OR COMMITTEE MEETINGS, SUCH CONFLICT SHALL BE DISCLOSED TO OTHER TRUSTEES PRESENT, AND THE TRUSTEE HAVING SUCH CONFLICT SHALL NOT VOTE OR USE HIS OR HER PERSONAL INFLUENCE ON THE MATTER. DOCUMENT RETENTION AND DESTRUCTION FORM 990, PART VI, LINE 14 THE SCHOOL HAS A WRITTEN DOCUMENT RETENTION AND DESTRUCTION POLICY IN PLACE. THIS POLICY, HOWEVER, HAS NOT BEEN APPROVED BY THE BOARD OF TRUSTEES. COMPENSATION PROCESS FORM 990, PART VI, LINE 15 THE SCHOOL'S PROCESS FOR DETERMINING COMPENSATION FOR ITS OFFICERS (INCLUDING THE PRESIDENT) AND KEY EMPLOYEES INCLUDES: 1. PREPARING A DESCRIPTION OF THE POSITION AND REQUIREMENTS VIA A FORMAL JOB DESCRIPTION, JOB SUMMARY, OR ADVERTISEMENT. 2. DEVELOPING AN UNDERSTANDING OF THE EXTERNAL MARKET FOR SIMILAR POSITIONS AND REQUIREMENTS VIA VARIOUS SOURCES SUCH AS: COMPENSATION SURVEYS (E.G., YAFFEE, SNE CUPA, THE SURVEY GROUP); OTHER ORGANIZATIONS' FORM 990 DATA; DIALOG WITH SEARCH FIRMS; AND KNOWLEDGE OF APPLICANT POOL AND CURRENT EARNINGS. 3. CONSIDERING THE EXTERNAL MARKET DATA LISTED ABOVE IN LIGHT OF INTERNAL OPERATING BUDGET AND INTERNAL EQUITY FACTORS. 4. UNDERSTANDING THE CANDIDATE'S PREVIOUS EXPERIENCE AND SKILL SET AS RELATED TO THE POSITION'S REQUIREMENTS AND THE COLLEGE'S NEEDS. 5. ENGAGING AN INDEPENDENT COMPENSATION CONSULTANT TO DETERMINE AND VERIFY REASONABLENESS OF THE COMPENSATION LEVELS FOR THE INDIVIDUAL. 6. PRESENTING A RECOMMENDED HIRING RANGE (OFFER) TO RISD'S OFFICERS AND BOARD OF TRUSTEES, AS APPROPRIATE, FOR APPROVAL. 7. GENERATING AN OFFER LETTER OR CONTRACT. RISD has a compensation committee of the board of trustees. The committee assists the board in establishing AND REVIEWING THE COMPENSATION OF RISD'S SENIOR ADMINISTRATIVE STAFF ON AN ONGOING BASIS. THE SUBCOMMITTEE CONSISTS OF THE CHAIR OF THE BOARD, THE VICE CHAIR(S) OF THE BOARD AND THE CHAIR OF THE FINANCE COMMITTEE OF THE BOARD, AND WILL BE ASSISTED BY THE SECRETARY, THE PRESIDENT, THE VICE PRESIDENT FOR HUMAN RESOURCES, AND/OR THE GENERAL COUNSEL WHEN APPROPRIATE. THE SUBCOMMITTEE REVIEWS EACH INITIAL OFFER, EACH ANNUAL ADJUSTMENT, AND ANY OTHER ADJUSTMENTS. IN SO DOING, THE SUBCOMMITTEE REVIEWS CURRENT COMPARABLE DATA WITH THE ASSISTANCE OF AN INDEPENDENT COMPENSATION CONSULTANT AND DOCUMENTS ITS DECISIONS IN ITS MINUTES. ORGANIZATION DOCUMENTS AVAILABILITY TO PUBLIC FORM 990, PART VI, LINE 19 RISD MAKES AVAILABLE TO THE PUBLIC ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND CONSOLIDATED FINANCIAL STATEMENTS BY POSTING THESE DOCUMENTS ON WWW.RISD.EDU AND ALSO BY REQUEST. RECONCILIATION OF NET ASSETS FORM 990, PART XI, LINE 9 UNREALIZED DEPRECIATION ON SWAP VALUATION: $(254,771) TRANSACTION WITH SUBSIDIARY: $(596,758) ------------ $(851,529) TECHNOLOGY AND DESIGN BUILDINGS LLC 2 COLLEGE STREET PROVIDENCE RI 02903 050258956 REAL ESTATE RI 25648 0 RISD RISD HOLDINGS INC 2 COLLEGE STREET PROVIDENCE RI 02903 050508151 REAL ESTATE RI 501(C)(25) RISD true CHARITABLE REMAINDER TRUSTS (8) FUNDRAISING MA NA TRUST false true false false true false false false false false false true true false false true false true false true RISD HOLDINGS INC A 260004 CASH RISD HOLDINGS INC D 5200000 CASH RISD HOLDINGS INC K 96370 CASH RISD HOLDINGS INC O 105525 CASH RISD HOLDINGS INC Q 585850 CASH RISD HOLDINGS INC S 596758 CASH SCHEDULE R, PART IV, LINE 1 CHARITABLE REMAINDER TRUSTS ARE DOMICILED IN MASSACHUSETTS, MARYLAND, CALIFORNIA, AND CONNECTICUT.