2015-03-16T11:57:53-05:00 2014-06-30 061009205 BLUM SHAPIRO & COMPANY PC CPA'S 29 S MAIN STREET PO BOX 272000 WEST HARTFORD CT 061272000 990 2013-07-01 061395640 RICHMOND THE AMERICAN INTERNATIONAL UNIVERSITY IN LONDON INC RICH 8605616875 C/O BLUM SHAPIRO 29 SOUTH MAIN ST WEST HARTFORD CT 06107 PROFESSOR JOHN ANNETTE PRESIDENT 8605616875 2015-03-17 1 ELIZABETH SOLECKI P00235171 8605614000 2015-03-17 2013 2016-03-07 17:11:31Z PROFESSOR JOHN ANNETTE ORCHARD HOUSE QUEEENS ROAD RICHMOND SURREY UK 36770955 0 X WWW.RICHMOND.AC.UK X 1972 DE TO BE AN INTERNATIONAL UNIVERSITY OFFERING HIGH QUALITY UNDERGRADUATE AND POSTGRADUATE EDUCATION, RESEARCH EXCELLENCE AND PUBLIC ENGAGEMENT. 10 8 4 0 0 0 1132828 1117669 31477880 35605857 4654 5540 13464 41889 32628826 36770955 2382025 3141516 0 0 9734575 11144952 0 0 0 20938289 22233440 33054889 36519908 -426063 251047 9259137 13287590 6398708 7128092 2860429 6159498 RICHMOND EDUCATES A MULTI-CULTURAL STUDENT BODY IN THE LIBERAL ARTS TRADITION AND PROVIDES ITS STUDENTS WITH THE INTELLECTUAL AND PERSONAL SKILLS THAT WILL ENABLE THEM TO INFLUENCE AND SUCCEED IN AN INCREASINGLY INTER-DEPENDENT AND EVOLVING WORLD. 0 0 31780020 3141516 35605857 THE UNIVERSITY HAS TAUGHT JUST OVER 1,000 (FULL TIME EQUIVALENT) STUDENTS AT THE UNDERGRADUATE AND POST GRADUATE LEVEL. THE TEACHING TOOK PLACE AT THE UNIVERSITY'S CAMPUSES IN LONDON & LEEDS (UK) AND FLORENCE & ROME (ITALY). 31780020 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 1 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 1 0 0 4 1 0 1 UK 0 0 0 0 0 0 0 0 X 10 8 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 DE MA X MR ROGER HORTON RICHMOND UNIVERSITY 2083328212 QUEENS ROAD RICHMOND, SURREY UK TW10 6JP DR MARIAM ASSEFA TRUSTEE (THROUGH 5/16/14) 1.00 X 0 0 0 DR VIVIAN DAY-STROH TRUSTEE (THROUGH 5/16/14) 1.00 X 0 0 0 MR GEORGE KING TRUSTEE (THROUGH 10/30/13) 1.00 X 0 0 0 MR A MICHAEL HOFFMAN CHAIR OF TRUSTEES 3.00 X 0 0 0 DR CLIFFORD JOSEPH SECRETARY TO THE BOARD 3.00 X 0 0 0 SIR CYRIL TAYLOR CHANCELLOR OF UNIVERSITY 3.00 X 0 0 0 PROFESSOR JOHN ANNETTE PRESIDENT OF UNIVERSITY 40.00 X X 0 0 399829 MR NEIL MEADOWS TRUSTEE 1.00 X 0 0 0 DR NICHOLAS TATE VICE CHAIR OF TRUSTEES 1.00 X 0 0 0 MRS WENDY MILLER TRUSTEE 1.00 X 0 0 0 MS AILSA BROOKES TRUSTEE 1.00 X 0 0 0 DR KEVIN EVERETT TRUSTEE 1.00 X 0 0 0 DAME MARY RICHARDSON TRUSTEE 1.00 X 0 0 0 MR PETER WILLIAMS TRUSTEE 1.00 X 0 0 0 DR PHILIP DEANS PROVOST OF UNIVERSITY 40.00 X 0 0 255113 MRS JANE CRICHTON VP HUMAN RESOURCES & ADMIN 40.00 X 0 0 159166 MRS ALLISON COLE-STUTZ VP STUDENT AFFAIRS 40.00 X 0 0 150334 MR DAVID CUNNINGHAM VP INST. PLANNING & ENROLLMENT 40.00 X 0 0 153535 DR PARVIS DABIR-ALAI CHAIR DEPT BUSINESS & ECON 40.00 X 0 0 120150 DR MARY ROBERT CHAIR DEPT GEN EDUCATION 40.00 X 0 0 120150 DR ALEX SEAGO CHAIR DEPT COMM. & SOCIAL SCIENCES 40.00 X 0 0 120150 MR ROGER HORTON FINANCIAL CONTROLLER 40.00 X 0 0 118247 0 0 1596674 0 0 1 0 SODEXO PO BOX 245 310 BROADWAY SALFORD UK CATERING 1870492 MITIE PO BOX 764 PORTSMOUTH HAMPSHIRE UK FACILITIES MANAGEMENT 970099 METRO COMPUTER SUPPLIES 14-17 METROPOLITAN BUSINESS PARK PRESTON UK I.T. SUPPLIES & SERVICES 566670 KM CLEANING SERVICES LTD CANTERBURY HOUSE MEDWAY CITY ESTAT ROCHESTER UK CLEANING 451604 PAJ CLEANING 114 SHERBOURNE AVENUE RYDE IOW UK CLEANING 364007 11 1117669 170160 1117669 TUITION, ROOM & BOARD 611310 35605857 35605857 35605857 5540 5540 EXCHANGE GAIN 900099 41889 41889 41889 36770955 35605857 0 47429 3141516 3141516 1175811 222630 953181 8265068 7025308 1239760 700740 595629 105111 125525 106696 18829 877808 746137 131671 174358 174358 79216 79216 879261 879261 515854 438476 77378 989697 841242 148455 5990178 5990178 163433 24515 138918 10276 10276 1272958 1082014 190944 18483 18483 FLORENCE & ROME STUDY C 4084204 3471573 612631 SERVICE FEES 3130263 2660724 469539 CATERING COSTS 1876206 1876206 STUDENT ACTIVITY COSTS 574800 574800 2474253 2103115 371138 36519908 31780020 4739888 0 -264036 -850172 1736662 2415306 1598512 1761374 15900 16991 928897 1245888 19144604 12104973 5243202 7039631 0 1658572 9259137 13287590 999350 1463528 51811 91397 1286220 1518734 4061327 4054433 6398708 7128092 X 2821462 4354987 38967 1804511 2860429 6159498 9259137 13287590 X 251047 1702836 1345186 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 11144889 6119732 5025157 7337815 5439277 1898538 661900 545964 115936 7039631 INTEREST IN NET ASSETS OF RICHMOND FOUNDATION 1658572 1658572 STUDENT DEPOSITS 1371292 FEES RECEIVED IN ADVANCE 2390336 UK TAX & SOCIAL SECURITY COSTS 292805 4054433 35269671 -1501284 -1501284 36770955 0 36770955 33378392 0 33378392 3141516 3141516 36519908 PART XI, LINE 2D - OTHER ADJUSTMENTS: SCHOLARSHIPS & GRANTS -3,141,516. NET SURPLUS FROM THE RICHMOND FOUNDATION (A UK CHARITY) 1,640,232. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS & GRANTS 3,141,516. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 INCLUDED IN THE UNIVERSITY CATALOG, WEBSITE, MISSION STATEMENT, EMPLOYMENT AND FACULTY HANDBOOKS. 1 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 4 207 PROGRAM SERVICES HIGHER EDUCATION 28638504 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 4 207 MANAGEMENT & GEN EXPS HIGHER EDUCATION 4053084 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 4 207 GRANTS SCHOLARSHIPS AND HOUSING GRANTS 3141516 4 207 0 0 4 207 35833104 0 35833104 SCHOLARSHIPS & HOUSING GRANTS EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 386 3141516 REDUCTION IN INVOICE 0 0 0 0 0 0 PART III: TUITION SCHOLARSHIPS ARE ONLY PROVIDED TO STUDENTS IF ATTENDANCE & ACADEMIC PERFORMANCE IS MAINTAINED. ACHIEVEMENT IS MONITORED BY LOOKING AT GRADES, PROGRESSION, AND COMPLETION OF REGISTERED COURSES. THESE REQUIREMENTS ARE MONITORED BY THE ACADEMIC REGISTRY DEPARTMENT. GRANTS FOR ROOM AND BOARD ARE ALLOCATED ON THE BASIS OF FINANCIAL NEED. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 PROFESSOR JOHN ANNETTE PRESIDENT OF UNIVERSITY 0 0 0 0 0 0 0 0 94451 0 94451 0 0 0 DR PHILIP DEANS PROVOST OF UNIVERSITY 0 0 0 0 0 0 0 0 2042 0 2042 0 0 0 MRS JANE CRICHTON VP HUMAN RESOURCES & ADMIN 0 0 0 0 0 0 0 0 2042 0 2042 0 0 0 MRS ALLISON COLE-STUTZ VP STUDENT AFFAIRS 0 0 0 0 0 0 0 0 2042 0 2042 0 0 0 MR DAVID CUNNINGHAM VP INST. PLANNING & ENROLLMENT 0 0 0 0 0 0 0 0 2042 0 2042 0 0 0 DR PARVIS DABIR-ALAI CHAIR DEPT BUSINESS & ECON 0 0 0 0 0 0 0 0 2042 0 2042 0 0 0 DR MARY ROBERT CHAIR DEPT GEN EDUCATION 0 0 0 0 0 0 0 0 2042 0 2042 0 0 0 DR ALEX SEAGO CHAIR DEPT COMM. & SOCIAL SCIENCES 0 0 0 0 0 0 0 0 2042 0 2042 0 0 0 MR ROGER HORTON FINANCIAL CONTROLLER 0 0 0 0 0 0 0 0 2042 0 2042 0 0 0 PART II: THE MANAGEMENT OF THE UNIVERSITY IS BASED IN THE UK AND THEREFORE DOES NOT MAKE W-2 OR 1099-MISC RETURNS FOR EMPLOYEES LISTED ON FORM 990 PART VII. AS A RESULT OF THIS, COLUMNS B & C IN PART II OF SCHEDULE J ABOVE ARE LEFT BLANK. HOWEVER IF THESE RETURNS WERE MADE, THE INFORMATION WOULD BE AS FOLLOWS: BASE COMP OTHER REPORTABLE COMP NONTAX BENFTS DR. JOHN ANNETTE 258,785 46,594 94,451 DR. PHILIP DEANS 213,693 39,379 2,042 MRS. ALLISON COLE-STUTZ 123,366 24,927 2,042 MRS. JANE CRICHTON 131,874 25,250 2,042 MR. DAVID CUNNINGHAM 130,598 20,896 2,042 DR. PARVIS DABIR-ALAI 108,839 19,442 2,042 DR. MARY ROBERT 108,839 19,442 2,042 DR. ALEX SEAGO 108,839 19,442 2,042 MR. ROGER HORTON 107,060 19,163 2,042 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 3130263 PAYMENTS FOR USE OF UNIVERSITY MAIN PREMISES 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 4084204 PAYMENTS TO FINANCE ITALIAN STUDY CENTRES 0 AMERICAN INSTITUTE FOR FOREIGN STUDY UK LTD ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 215195 PAYMENTS FOR LEASE OF 15 YOUNG STREET, LONDON 0 AMERICAN INSTITUTE FOR FOREIGN STUDY UK LTD ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 235028 PAYMENT TO REIMBURSE BUILDING & INSURANCE COSTS 0 ACIS INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 487563 RENTAL & SERVICES FOR RECRUITMENT OFFICE IN BOSTON 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 4156236 PAYMENT BY AIFS FOR DELIVERY OF LONDON STUDY ABROAD PROGRAMS 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 4026455 PAYMENT BY AIFS FOR DELIVERY OF ITALIAN STUDY ABROAD PROGRAMS 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 728304 PAYMENT BY AIFS FOR DELIVERY OF LONDON SUMMER PROGRAMS 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 127620 PAYMENT TO AIFS FOR STUDY ABROAD CO-ORDINATOR IN LONDON & ASSOCIATED ACTIVITY COSTS 0 AMERICAN INSTITUTE FOR FOREIGN STUDY INC ENTITY MORE THAN 35% OWNED BY SIR CYRIL TAYLOR 155034 PAYMENT BY AIFS FOR RENTAL OF COLLINGHAM GARDENS, LONDON PREMISES FOR STUDENT SUMMER ACCOMMODATION 0 X SEE PART II 1 170160 0 0 0 PART I, COLUMN (B): THE UNIVERSITY RECEIVED A NON CASH DONATION OF $170,160 FROM THE RICHMOND FOUNDATION (A UK REGISTERED CHARITY). THIS WAS A NON CASH DONATION OF RESERVES BEING ACCUMULATED ON THE BALANCE SHEET OF THE RICHMOND FOUNDATION DUE TO INCREASING EQUITY ON A RESIDENTIAL PROPERTY THAT IS OWNED BY THE FOUNDATION AND LEASED BACK TO THE UNIVERSITY FOR THE PURPOSE OF STUDENT HOUSING. THE MORTGAGE IS SEVEN YEARS INTO A TWENTY YEAR TERM. THE DONATION REPRESENTS THE INCREASE IN EQUITY OF THE PROPERTY AS THE MORTGAGE IS GRADUALLY PAID DOWN. AT THE END OF THE MORTGAGE TERM, THE RICHMOND FOUNDATION WILL EITHER DONATE THE BUILDING TO THE UNIVERSITY, RE-MORTGAGE, OR SELL THE PROPERTY AND PASS THE FUNDS RECEIVED TO THE UNIVERSITY. PART I, LINE 5, TOTAL NUMBER OF EMPLOYEES: THE UNIVERSITY EMPLOYED AN AVERAGE OF 211 PEOPLE DURING THE YEAR. HOWEVER, ONLY 4 OF THESE WERE EMPLOYED IN THE USA. THIS NUMBER HAS NOT BEEN DISCLOSED IN THE FORM 990 AS THE UNIVERSITY IS LOCATED OUTSIDE OF THE USA. FORM 990, PART VI, SECTION A, LINE 2 TRUSTEES SIR CYRUS TAYLOR AND MS. AILSA BROOKES HAVE A BUSINESS RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED FROM THE ACCOUNTING RECORDS AS AUDITED BY BAKER TILLY LLP IN THE UK AND SENT FOR INITAL REVIEW TO THE UNIVERSITY ACCOUNTANTS, BLUM SHAPIRO IN THE US. REVISIONS ARE MADE AS NECESSARY AND THE FORM 990 WITH ALL RELEVANT SCHEDULES ATTACHED IS SENT TO THE UNIVERSITY'S AUDIT COMMITTEE, WITH A PAPER NOTING ANY ISSUES THAT REQUIRE PARTICULAR ATTENTION. THE AUDIT COMMITTEE REVIEWS THE FORM AND MAKES ANY COMMENTS THAT IT FEELS NECESSARY AND THEN REPORTS TO THE MAIN BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C ALL TRUSTEES ARE AWARE OF THE CONFLICTS OF INTEREST POLICY AND SIGN AN ANNUAL UPDATED COPY. THE CHAIRS OF THE TRUSTEE SUB-COMMITTEES MONITOR ANY POTENTIAL CONFLICTS AND WHERE NECESSARY REMIND MEMBERS TO DECLARE AN INTEREST, ABSTAIN FROM VOTING AND LEAVE MEETINGS WHEN NECESSARY. FORM 990, PART VI, SECTION B, LINE 15 THE MAIN BOARD OF TRUSTEES IS PROVIDED WITH RESEARCH AND ANALYSIS BY THE UNIVERSITY VP OF HR & ADMINISTRATION CONCERNING COMPARATIVE SALARIES FOR THE UNIVERSITY PRESIDENT. SALARIES OF SENIOR UNIVERSITY OFFICERS ARE SET BY THE PRESIDENT WITH RESEARCH AND ANALYSIS PROVIDED BY THE VP OF HR & ADMINISTRATION. FORM 990, PART VI, SECTION C, LINE 19 UNIVERSITY FORMATION DOCUMENTS AND CONFLICT OF INTEREST POLICIES ARE NOT AVAILABLE TO THE PUBLIC. UK STATUTORY ACCOUNTS ARE FILED WITH THE RELEVANT AUTHORITIES IN THE UK AND ARE AVAILABLE FOR INSPECTION. FORM 990, PART XI, LINE 9: EXCHANGE LOSS BETWEEN THE US DOLLAR & THE UK POUND STERLING -295,046. NET SURPLUS FROM THE RICHMOND FOUNDATION (A UK CHARITY) 1,640,232. SCHEDULE L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: THE UNIVERSITY TRUSTEES ON THE AUDIT SUB-COMMITTEE REVIEW THE SERVICES AGREEMENT WITH THE AMERICAN INSTITUTE FOR FOREIGN STUDY, INC. TO ENSURE THAT SERVICES ARE PROVIDED AT FAIR VALUE. THE COMMITTEE IS PRESENTED WITH AN ANNUAL REPORT WHICH IS THEN FURTHER REPORTED TO THE MAIN BOARD OF TRUSTEES. THE RICHMOND FOUNDATION C/O RICHMOND UNIVERSITY QUEENS ROA RICHMOND, SURREY UK TW10 6JP EDUCATIONAL SUPPORT UK FOREIGN BASED UK CHARITY N/A 0 RICHMOND COLLEGE SERVICES LIMITED QUEENS ROAD RICHMOND SURREY UK TW10 6JP EDUCATION SUPPORT UK N/A C 0 0 0 1 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 THE RICHMOND FOUNDATION K 493464 LEASE AGREEMENT THE RICHMOND FOUNDATION C 510570 AGREED DONATION PART II: DONATIONS OF $510,570 FROM THE RICHMOND FOUNDATION TO THE UNIVERSITY WERE DECIDED UPON AT A FOUNDATION TRUSTEES MEETING. THE PRIME PURPOSE OF THE RICHMOND FOUNDATION IS TO PROVIDE SUPPORT TO RICHMOND, THE AMERICAN INTERNATIONAL UNIVERSITY IN LONDON, INC. THE PAYMENT OF $493,464 FROM RICHMOND, THE AMERICAN INTERNATIONAL UNIVERSITY IN LONDON, INC. TO THE RICHMOND FOUNDATION WAS RENTAL ON A PROPERTY USED FOR STUDENT HOUSING WHICH IS OWNED BY THE RICHMOND FOUNDATION. SIX TRUSTEES OF RICHMOND, THE AMERICAN INTERNATIONAL UNIVERSITY IN LONDON, INC., OUT OF A TOTAL OF 10 VOTING MEMBERS ARE ALSO TRUSTEES OF THE RICHMOND FOUNDATION. THERE IS ONE TRUSTEE OF THE RICHMOND FOUNDATION WHO IS NOT A TRUSTEE OF RICHMOND, THE AMERICAN INTERNATIONAL UNIVERSITY IN LONDON, INC. HOWEVER, SHE IS AN EMPLOYEE OF THE UNIVERSITY IN THE CAPACITY OF DIRECTOR OF ALUMNI RELATIONS & DEVELOPMENT. PART IV: RICHMOND COLLEGE SERVICES LIMITED HAS TWO SHARES IN ISSUE. ONE IS OWNED BY THE RICHMOND FOUNDATION AND THE OTHER IS HELD BY THE PRESIDENT OF THE UNIVERSITY AS A NOMINEE SHAREHOLDER. ANY PROFITS MADE BY RICHMOND COLLEGE SERVICES LIMITED ARE DONATED TO THE RICHMOND FOUNDATION. AS THE RICHMOND FOUNDATION IS A UK REGISTERED CHARITY, THIS EXEMPTS RICHMOND COLLEGE SERVICES LIMITED FROM PAYING UK CORPORATION TAX. ANY PROFITS DONATED BY RICHMOND COLLEGE SERVICES LIMITED TO THE RICHMOND FOUNDATION ARE IN TURN DONATED TO THE UNIVERSITY.