2017-05-15T14:51:56-07:00 2016-06-30 990 2015-07-01 050277222 ROGER WILLIAMS UNIVERSITY ROGE 4012531040 One Old Ferry Road Bristol RI 02809 Jerome F Williams EVP for Finance & Administration 4012543536 2017-05-12 2015 2021-01-29 14:40:06Z Donald J Farish One Old Ferry Road Brisol RI 02809 199608306 0 X www.rwu.edu X 1959 RI Roger Williams University is an independent university that combines the unique strengths of small liberal arts colleges and those of larger comprehensive universities and where liberal and professional education are enhanced by their integration and the recognition of their unity. 22 18 3688 158 232425 0 5137729 5469722 184174479 182538174 4390140 2295196 3667946 2965049 197370294 193268141 45231687 46737388 0 0 88788224 88812346 0 0 2547242 60973785 55823955 194993696 191373689 2376598 1894452 286062632 280716229 162294709 159925938 123767923 120790291 X See Schedule O 0 0 176520536 46737388 185203661 Higher Education: Roger Williams University (the "University"), located in Bristol and Providence, Rhode Island, is a private, coeducational university with programs in the liberal arts and the professions that includes the Feinstein College of Arts and Sciences, the School of Architecture, Art and Historic Preservation, the Mario J. Gabelli School of Business, the School of Education, the School of Engineering, Computing and Construction Management, the School of Justice Studies and the School of Continuing Studies. The University offers more than 40 majors of undergraduate study and 13 graduate degrees, along with numerous minors and certificate programs. The University is accredited by the New England Association of Schools and Colleges among other accrediting bodies. The University provides academic, residential and other services to a diverse student population predominately drawn from the Northeast region of the United States, as well as from more than 44 U.S. states and territories and 62 foreign countries. Enrollment for fiscal year 2016 was approximately 3,955 full-time and 600 part-time undergraduates plus 185 full-time and 68 part-time graduate students. 0 0 0 176520536 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 0 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 311 0 1 3688 1 1 1 1 UK 0 0 0 1 1 0 0 0 1 0 X 22 18 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X Jerome F Williams 4012543536 One Old Ferry Road Bristol RI 02809 Timothy E Baxter Trustee 1 0 X 0 0 0 Richard L Bready Trustee 1 0 X 0 0 0 Joseph M Brito Jr Trustee 1 0 X 0 0 0 Rodney A Butler Trustee 1 0 X 0 0 0 Gary R Chapman Trustee 1 0 X 0 0 0 Linn F Freedman Trustee 1 5 X 0 3000 0 Mario J Gabelli Trustee 1 0 X 0 0 0 Denise M Jenkins Trustee 1 0 X 0 0 0 Marcia Morris Trustee 1 0 X 0 0 0 Patricia Noonan Trustee 1 0 X 0 0 0 Helen Ostrowski Trustee 1 0 X 0 0 0 Scott Pray Trustee 1 0 X 0 0 0 Frank Rainieri Jr Trustee 1 0 X 0 0 0 William Smith Trustee 1 15 X 0 27225 0 Robert Stoico Trustee 1 0 X 0 0 0 Arlene Violet Trustee 1 0 X 0 0 0 Joseph D Whelan Trustee 1 5 X 0 3000 0 Timothy Yeaton Trustee 1 0 X 0 0 0 Richard Field Trustee 1 0 X 0 0 0 Todd Rechler Trustee 1 0 X 0 0 0 Donald J Farish Trustee and President 35 5 X X 505568 0 101452 Jerrold L Lavine Treasurer 1 0 X X 0 0 0 Robert H Avery Secretary 40 0 X 236158 0 18899 Jerome F Williams EVP for Finance & Administration 35 5 X 237784 0 35268 John King VP for Student Affairs 40 0 X 189562 0 30155 Andrew Workman Provost 40 0 X 259469 0 67540 Lisa Raiola Vice President of Institutional Advancement 40 0 X 193675 0 62277 Catherine Capolupo Vice President for Enrollment Management 40 0 X 193670 0 15532 Robert Potter Dean of School of Engineering 40 0 X 187106 0 29475 Michael Melton Professor 40 0 X 182985 0 28621 Robert Cole Vice Provost 40 0 X 181824 0 44734 Robert Eisinger Dean FCAS 40 0 X 178306 0 19371 Susan McTiernan Dean of Gabelli School of Business 40 0 X 247006 0 31198 2793113 33225 484522 181 0 1 0 Bon Appetit Management Company 100 Hamilton Avenue Palo Alto CA 94301 Dining Services/Food Costs 6058746 TRAC Builders Inc 28 Wolcott Street Providence RI 02908 Construction 2325818 DaPonte's Landscaping Services 700 Wood Street Bristol RI 02809 Landscaping/Construction 726678 Massey's Plate Glass & Aluminum Inc 734 East Main Street Bradford CT 06405 Construction 673231 HELIN Inc HELIN Consortium 15 Lippitt Road Kinston RI 02881 Library Books 571230 82 0 0 46062 0 2924728 2498932 161636 5469722 Tuition 611310 126493311 126493311 0 0 Room & Board 611310 44097666 44097666 0 0 Student Fees 611310 8983218 8983218 0 0 Student Club Fees 611310 1175992 1175992 0 0 Other Auxiliary Income 611310 1077307 1077307 0 0 710680 710680 0 0 182538174 726379 0 60947 665432 203 0 0 203 0 0 0 0 0 0 7773837 81897 6119905 167215 1653932 -85318 1568614 0 0 1568614 91011 46062 53045 37966 0 37966 Conferences 900099 1648254 1558136 0 90118 Justice Training Institute 900099 521714 521714 0 0 Bookstore Commission Income 900099 278474 278474 0 0 478641 307163 171478 0 2927083 193268141 185203661 232425 2362333 0 0 45330430 45330430 1406958 1406958 0 0 1815885 642701 827839 345345 0 0 0 0 65182062 58072913 5930840 1178309 4198780 3679724 423568 95488 12651023 11087095 1276221 287707 4964596 4350869 500823 112904 142693 0 142693 0 243287 0 243287 0 143600 0 143600 0 0 0 0 0 0 0 430533 0 430533 0 10370137 10141098 166444 62595 747201 738129 9072 0 2712226 2266860 198080 247286 1728268 1064721 644620 18927 4681 4681 0 0 7992604 7570835 421769 0 1174142 1053690 85222 35230 0 0 0 0 916768 857687 56501 2580 4729854 4729854 0 0 0 0 0 0 11966084 11966084 0 0 1271349 832744 438605 0 Study Abroad 3365442 3365442 0 0 Student Expense 1989077 1985199 1379 2499 Library Materials 1219113 1219113 0 0 Equipment 534370 526656 7692 22 4142526 3627053 357123 158350 191373689 176520536 12305911 2547242 2192981 3287701 0 729243 1299166 465262 6379845 8222410 0 0 0 0 0 0 159851 135264 966187 1138742 372240065 170273021 204908736 201967044 20905419 22084574 47984642 41377482 1265805 1308507 286062632 280716229 8942357 8526882 0 0 14621369 16195914 114183450 108281640 0 0 0 0 5313699 5280951 0 0 19233834 21640551 162294709 159925938 X 110217919 108504536 5931243 4590429 7618761 7695326 123767923 120790291 286062632 280716229 X 1894452 -4505878 0 0 0 -366206 X 0 1 X 1 1 1 X 3810805 6345601 4780883 5137729 5469722 25544740 0 0 0 0 0 0 0 0 0 0 0 0 3810805 6345601 4780883 5137729 5469722 25544740 330169 25214571 644193 501436 257249 208123 726582 2337583 0 36756 16765 0 0 53521 1232849 1238362 1269300 1604090 181128 5525729 33461573 891564469 0.75354 0.7511 X Schedule A, Part I, Line 7 The basis of Roger Williams University's Public Charity Status has been and continues to be its qualification as a school described in Section 170(B)(1)(A)(II). The University has checked Box 7 on Schedule A, Part I and completed Schedule A, Part II in order to demonstrate its qualification to follow the special rule for abbreviated reporting of contributions on Form 990, Schedule B. Schedule A, Part II, Line 10 Other income includes gross income from fundraising activities and conference income. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 68690353 144139 -2116983 219993 3036656 430533 63030327 71652716 396495 159843 205689 2804978 508034 68690353 64031000 13000 11061009 162000 2805000 485009 71653000 59165000 408000 7789183 139000 2650000 542183 64031000 64994500 237000 -1737754 170000 3679500 479246 59165000 0.8368 0.1214 0.0418 0 0 0 3712188 3712188 0 281413064 98819096 182593968 0 3427655 2624327 803328 0 75130581 61424064 13706517 0 8556577 7405534 1151043 201967044 Hedged Equity- Developed and Emerging 24587003 F Domestic and International Equities 10486894 F Fixed Income Securities 1992454 F Private Equity 4311131 F 41377482 0 Line of Credit 11000000 Asset Retirement Obligation 4639211 Interest Rate Swap Obligation 2764870 Refundable Advances - US Government Grants 1975221 Charitable Annuity Obligations 158933 Other Miscellaneous Long Term Liabilities 1102316 21640551 X 141361740 -4505878 0 0 -47103589 -51609467 192971207 430533 -133599 296934 193268141 144340826 0 0 0 135058 135058 144205768 430533 46737388 47167921 191373689 Schedule D, Part V, Line 4 The intended use of the restricted endowment funds are dictated by the donor which are predominantly for instructional purposes and scholarships. Earnings from unrestricted endowment funds are used for operations according to the spending policy established by the University's Board of Trustees. Schedule D, Part X, Line 2 The University accounts for the effect of any uncertain tax positions based on a "more likely than not" threshold to the recognition of the tax positions being sustained based on the technical merits of the position under scrutiny by the applicable taxing authority. If a tax position or positions are deemed to result in uncertainties of those positions, the unrecognized tax benefit is estimated based on a "cumulative probability assessment" that aggregates the estimated tax liability for all uncertain tax positions. The University has identified its tax status as a tax exempt entity as its only significant tax position; however, the University has determined that such tax position does not result in an uncertainty requiring recognition. The University is not currently under examination by any taxing jurisdictions. The University's federal and state tax returns are generally open for examination for three years following the date filed. Schedule D, Part XI, Line 2d Scholarships and grants provided to students of ($46,737,388) are presented as a contra-revenue item in the audited financial statements and as an expense in the Form 990. Change in fair value of interest rate swaps of ($22,711) and change in value of split-interest agreements of ($343,490) are presented as contra-revenue items in the audited financial statements and as other adjustments to reconcile the change in net assets in the Form 990. Schedule D, Part XI, Line 4b Fundraising event expenses of ($53,045), loss on disposal of property and equipment of ($85,318) and interdepartmental hotel charges of $4,764 are shown as expense items in the audited financial statements and as contra-revenue items on the Form 990. Schedule D, Part XII, Line 2d Fundraising event expenses of ($53,045), loss on disposal of property and equipment of ($85,318) and interdepartmental hotel charges of $4,764 are shown as expense items in the audited financial statements and as contra-revenue items on the Form 990. Also included is a ($1,459) rounding error from prior year. Schedule D, Part XII, Line 4b Scholarships and grants are provided to students of $46,737,388 and are presented as a contra-revenue item in the audited financial statements and as an expense in the Form 990. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Schedule E, Part I, Line 3 The University annually publishes a notice of its racially nondiscriminatory policy in a newspaper of general circulation that serves all racial segments of the community. Also the University's non-discrimination policy is available on its website at http://rwu.edu/site-policies/non-discrimination-policy Schedule E, Part I, Line 6 The University receives federal and state student financial aid authorized by student loan programs. 1 Europe (including Iceland and Greenland) 0 0 Grantmaking 1133481 North America (including Canada and Mexico, but not the United States) 0 0 Grantmaking 103225 East Asia and the Pacific 0 0 Grantmaking 132310 Central America and the Caribbean 0 0 Grantmaking 10093 Middle East and North Africa 0 0 Grantmaking 8000 South America 0 0 Grantmaking 19850 Central America and the Caribbean 0 0 Investments 12633781 Central America and the Caribbean 0 0 Program Services Bus Travel/Study Abroad 78767 East Asia and the Pacific 0 0 Program Services Bus Travel/Study Abroad 36655 Europe (including Iceland and Greenland) 0 0 Program Services Bus Travel/Study Abroad 178322 Middle East and North Africa 0 0 Program Services Bus Travel/Study Abroad 14733 North America (including Canada and Mexico, but not the United States) 0 0 Program Services Bus Travel/Study Abroad 4009 South America 0 0 Program Services Bus Travel/Study Abroad 6131 0 0 14359357 Scholarships to students Central America and the Caribbean 1 0 N/A 10093 Tuition offset FMV Scholarships to students East Asia and the Pacific 19 0 N/A 132310 Tuition offset FMV Scholarships to students Europe (including Iceland and Greenland) 150 0 N/A 1133481 Tuition offset FMV Scholarships to students Middle East and North Africa 1 0 N/A 8000 Tuition offset FMV Scholarships to students North America (including Canada and Mexico, but not the United States) 14 0 N/A 103225 Tuition offset FMV Scholarships to students South America 3 0 N/A 19850 Tuition offset FMV 1 0 1 1 1 0 Schedule F, Part I, Line 2 The University monitors all grants outside the United States by directly applying the grant to the student's account to cover a portion of the student's tuition in accordance with standard financial aid policies and procedures. Schedule F, Part I, Line 3 Study abroad is an opportunity for students to continue the Roger Williams University education while living in another country. Study abroad is not merely a travel experience, but an academic experience (first and foremost) in an international setting. The study abroad programs are separately tracked in the University's general ledger system by activity and the amounts reported represent direct spending in foreign countries for tuition payments, lodging, travel and incidentals for students and faculty liaisons. The admissions recruiting and fundraising amounts are tracked primarily using the University's credit card system and represent travel, meals, and lodging costs for University employees conducting business in these regions. All expenses are under the accrual method of accounting. Golf Tournament 86215 43642 42573 0 0 21025 6750 760 111 LPI 10th Anniversary 29479 2000 27479 0 0 0 0 0 7572 2 21379 420 20959 0 0 8576 7424 0 827 137073 46062 91011 0 0 29601 14174 760 8510 53045 37966 1 Scholarships to students 3466 0 45330431 Other Reduction to student account balance for tuition owed to the University. Schedule I, Part I, Line 2 The University's Office of Financial Aid monitors all recipients of scholarship awards to determine both initial and confirming eligibility based on the criteria for each type of award, which may include academic performance, financial need, and criteria established by donors of endowed scholarship funds, etc. X X X 1 1 X X X X X X 0 1 0 0 0 0 0 1 0 Donald J Farish President 430568 0 75000 0 0 0 46200 0 55252 0 607020 0 0 0 Robert H Avery Secretary 236158 0 0 0 0 0 18611 0 288 0 255057 0 0 0 Jerome F Williams EVP for Finance & Administration 237784 0 0 0 0 0 19424 0 15844 0 273052 0 0 0 Catherine Capolupo Vice President for Enrollment Management 193670 0 0 0 0 0 15511 0 14644 0 223825 0 0 0 John King VP for Student Affairs 189562 0 0 0 0 0 20996 0 46544 0 257102 0 0 0 Andrew Workman Provost 259469 0 0 0 0 0 15732 0 46544 0 321745 0 0 0 Lisa Raiola Vice President of Institutional Advancement 193675 0 0 0 0 0 15244 0 288 0 209207 0 0 0 Robert Potter Dean of School of Engineering 187106 0 0 0 0 0 15277 0 14198 0 216581 0 0 0 Michael Melton Professor 182985 0 0 0 0 0 14354 0 14267 0 211606 0 0 0 Robert Cole Vice Provost 181824 0 0 0 0 0 14785 0 29948 0 226557 0 0 0 Robert Eisinger Dean FCAS 178306 0 0 0 0 0 18000 0 13198 0 209504 0 0 0 Susan McTiernan Dean of Gabelli School of Business 222006 0 25000 0 0 0 14350 0 5021 0 266377 0 0 0 Schedule J, Part I, Line 1a Housing Allowance - A residence on the employer's premises is used for both University business functions and as a personal residence by the President for the convenience of the employer and is treated as nontaxable compensation. The value of the personal space within the residence is included as a nontaxable benefit on Schedule J. Health or social club dues - The University paid social club membership dues for the President. Since the use of the memberships were for business purposes it was not treated as taxable compensation. Personal Services - The University regularly cleans the President's residence and the value of the maintenance of the personal space is taxed accordingly. Schedule J, Part I, Line 4 The President of Roger Williams University participated in a University 457(f) plan and $25,000 was accrued under the plan in calendar year 2015. Schedule J, Part I, Line 7 For University non-aligned employees, merit based compensation may be granted as either a base salary increase or a one-time bonus. Qualifications for receiving a bonus include performance exceeding expectations or taking on additional duties due to staff vacancies or temporary absences. For the compensation of the University's President, the bonus amount (if any) is determined by an employment agreement along with a review and approval of the Executive Committee of the Board of Trustees, who are all independent of the President. In the case of all other officers and other key employees, the bonus amount (if any) is determined via the same process as other compensation for officers and other key employees, including review by the University's President, who is independent of the other officers or key employees. A RIHEBC 2008A 521300173 762197CK5 2008-07-03 22935000 Retire 2006A Bonds 0 0 0 B RIHEBC 2008B 521300173 762197CM1 2008-08-28 38000000 Construction 0 0 0 C RIHEBC 2011A 521300173 2011-06-02 26410000 Refund 1998 Bonds 0 0 0 D RIHEBC 2011B 521300173 2011-11-08 12025000 Refund 2000 Bonds 0 0 0 A 0 0 22935000 0 0 22532642 276243 0 0 126115 0 0 2009 1 0 1 1 B 0 0 38000000 0 0 0 488608 0 0 37511392 0 0 2010 0 0 1 1 C 0 0 26410000 0 0 25879219 237781 0 0 0 293000 0 2012 1 0 1 1 D 0 0 12025000 0 0 11788293 236707 0 0 0 0 0 2012 1 0 1 1 A 0 0 0 0 0 0 0 0 0 1 B 0 0 0 0 0 0 0 0 0 1 C 0 0 0 0 0 0 0 0 0 1 D 0 0 0 0 0 0 0 0 0 1 A 0 0 0 1 1 1 BANK OF AMERICA 18.0 0 0 0 0 1 B 0 0 0 1 1 1 BANK OF AMERICA 30.0 0 0 0 0 1 C 0 0 1 0 0 0 0 0 1 D 0 0 1 0 0 0 0 0 1 A 1 B 1 C 1 D 1 Schedule K, Part IV, Line 2c-07/03/2008 22,935,000 RIHEBC 2008A Date of last rebate computation was 07/02/2015. Schedule K, Part IV, Line 2c-08/28/2008 38,000,000 RIHEBC 2008B Date of last rebate computation was 08/27/2015. A RIHEBC 2013A 521300173 2013-10-29 21675000 Refund 2003 Bonds 0 0 0 B RIHEBC 2014 521300173 2014-10-24 15667000 Refund 2006 Bond 0 0 0 A 0 0 21675000 0 0 21393343 281657 0 0 0 0 0 2013 1 0 1 1 B 0 0 15667000 0 0 15176487 170438 0 0 0 320075 0 2014 0 1 1 1 A 0 0 1 0 0 0 0.0121 0.0121 0 0 1 B 0 0 0 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 1 0 0 0 0 0 1 A 1 B 1 Schedule K, Part III, Line 3b-10/29/2013 21,675,000 RIHEBC 2013A The University's Office of General Counsel reviews any management and service contracts relating to the financed property for private use concerns. Schedule K, Part IV, Line 2c-10/29/2013 21,675,000 RIHEBC 2013A Date of last rebate computation was 08/31/2015. X 1 65000 Fair Market Value X 1 30000 Fair Market Value X 1 44136 Fair Market Value X Engineering Software 1 22500 Fair Market Value 2 0 1 0 Schedule M, Part I The number in column (b) is the number of contributions. Form 990, Part III, Line 1 To strengthen society through engaged teaching and learning. We inspire and educate students to lead fulfilled lives by ensuring they acquire and develop the knowledge, skills and habits of mind necessary to become reflective, responsible individuals who interact with society in mutually rewarding ways. Form 990, Part VI, Section A, Line 2 Trustees Mario Gabelli and Richard Bready have a business relationship. Form 990, Part VI, Section B, Line 11b IRS Form 990 is prepared by the Controller, VP for Accounting and Treasury Management and the Executive VP for Finance and Administration, along with assistance from the University Office of General Counsel. The completed Form 990 and schedules, along with relevant back up, are provided to an independent accounting firm for review. Upon completion, the form is provided to the Audit Committee of the Board of Trustees for review, discussion and approval. The completed and approved Form 990 is then sent to all members of the Board of Trustees prior to filing with the IRS. Form 990, Part VI, Section B, Line 12c Trustees, officers, key employees and managers are all required to annually (or more frequently in the event of a new potential conflict) disclose any potential conflicts of interest by completing a conflict of interest disclosure form. These disclosures are collected by the Office of General Counsel and provided for vetting to 1) the full Board of Trustees for Trustee disclosures; 2) the President for officer and senior management disclosures; or 3) senior management for down-line key employees and managers. The University's Conflict of Interest Policy and by-laws both contain provisions that provide for individuals with actual and potential conflicts to refrain from participating in discussion of, and voting on, matters where such conflicts exist. Form 990, Part VI, Section B, Line 15 The compensation for the University's President is contractually set and is reviewed by the Executive Committee and the Board of Trustees, all members of which are independent of the President. The Executive Committee's review currently includes, but is not limited to, the use of comparability data and other outside consultants. The process for determining compensation for the University's other officers or key employees includes a review by the University's President, who is independent of the other officers or key employees. The President's review currently includes, but is not limited to, the use of comparability data and other outside consultants. In addition, the compensation of officers and key employees falls within the parameters of the University's non-aligned merit compensation program that is approved by the Board of Trustees on an annual basis. Form 990, Part VI, Section C, Line 19 Governing documents are available in part through the Rhode Island Secretary of State's office. The University's by-laws and Conflict of Interest Policy governing employees and the corresponding disclosure form are available on the University's website. Audited financial statements are not publically available. Form 990, Part XI, Line 9 Form 990, Part XI, Line 9 - Change in fair value of interest rate swaps ($343,490), change in value of split-interest agreements ($22,711) and ($5) miscellaneous rounding. Roger Williams University School of Law 10 Metacom Road Bristol RI 02809 050465628 Law Grad School RI 501(c)(3) 2 N/A 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 Additional time needed to compile data.