2014-05-09T07:57:23-05:00 2013-06-30 Fairfield University North Benson Road Fairfield CT 064305195 990 2012-07-01 060646623 Fairfield University FAIR 2032544000 1073 North Benson Road Fairfield CT 068245195 Michael Trafecante 2032544000 2014-05-08 2032544000 2012 2015-11-30 17:44:51Z Michael Trafecante 1073 North Benson Road Fairfield CT 068245195 327610684 0 X www.fairfield.edu X 1942 CT A coeducational institution whose primary objectives are to develop the creative intellectual potential of its students and to foster in them ethical and religious values and a sense of social responsibility. Jesuit Education is committed today to the service of faith, of which the promotion of justice is an absolute requirement. As a Catholic university it welcomes those of all beliefs and traditions who share its concerns for scholarship, justice, truth and freedom, and it values the diversity which their membership brings to the university community. 34 33 2885 500 857554 290985 27411400 27325752 211418000 222286211 2441530 15068257 1482653 1296891 242753583 265977111 54241016 57843819 0 0 101997586 99934654 0 0 6256870 79413992 79708921 235652594 237487394 7100989 28489717 613431750 645239650 263820429 255864916 349611321 389374734 X Education for an Inspired Life: 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. 0 0 206214983 57843819 222286211 Enrollment:Fairfield University is an institution of higher learning with undergraduate, graduate and continuing education academic programs including students residing on campus. Full-time equivalent enrollment for the 2013 academic year were 3,607 undergraduates and 607 graduate students with approximately 2,750 students living in on-campus residences.Also included in our program services is a secondary Preparatory School with an enrollment of approximately 875 students.Fairfield University welcomed 963 members of the Class of 2017 and 45 transfer students to campus this year. The number exceeded the budgeted goal of 950. The Class of 2017 is a strong class, with an average SAT score of 1759, slightly higher than that of the Class of 2016. The Class is also more diverse, with more students of color and international students enrolled than in the previous year. 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 VALUEFairfield University continued to rank high in national rankings for quality and value including U.S. News and World Report which named the institution #3 in the Best Regional University North category in the Best Colleges 2014 rankings. This is the 23rd consecutive year the publication has ranked Fairfield in the top four among universities in the North. Additionally, Fairfield achieved the following: 1. Fairfield was recognized as one of the 100 Best Values in Private Colleges in the nation in the 2014 Kiplinger's Personal Finance report2. Bloomberg Business Week put Fairfield second- behind Yale University as Best Undergraduate ROI in Connecticut Bloomberg Business Week ranked the Charles F. Dolan School of Business among its top 100 undergraduate business schools in the nation 3. Forbes' listing of America's Top Colleges put Fairfield in the top 100 in the Northeast 4. Princeton Review named the Dolan School of Business among the best graduate business in the U.S. The National Collegiate Athletic Association announced that Fairfield University achieved the highest Graduation Success Rate (GSR) of all 11 Metro Atlantic Athletic Conference (MAAC) colleges and universities and the 12th-highest in the nation. Fairfield had a GSR of 97 percent with 17 of its varsity programs above the national average of Division 1 student-athletes that enrolled between 2003 and 2006. ACADEMICSFairfield launched a new master's degree in public administration (MPA), the first of its kind in Fairfield County. The MPA is designed for individuals already working in the public and nonprofit sectors, including those working in state, regional and local government, health and nonprofit organizations. The Charles F. Dolan School of Business launched a business incubator in collaboration with the Town of Fairfield's Department of Economic Development and Kleban Properties, an area retail development corporation. Known as the Fairfield University Accelerator and Mentoring Enterprise, the goal of the project is to nurture start-ups and foster economic development. FAME offers the client-innovators the tools they need, from guidance to funding to prime downtown office space to turn their ideas for promising new products, companies and technologies into realities. The U.S. Health Resources and Services Administration (HRSA) awarded Fairfield University's School of Nursing nearly $700,000 to help its students pay for the courses they need to become nurse practitioners, who are ideally suited to be primary care providers. With the implementation of the Affordable Care Act, it is estimated that there will be a need for an additional 91,500 primary care providers by 2020. Fairfield's School of Engineering launched a 24-week intensive program for area high schools to excite students about the wonders and promise of engineering. The Computing Education Academy was funded from corporate sources with the goal of increasing students' awareness of and motivation to enter computing related college major and computing careers, and broaden and diversify the future computing workforce. 206214983 1 1 0 0 0 0 1 1 0 1 1 1 1 1 1 0 1 0 1 1 1 0 0 1 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 1 732 0 1 2885 1 1 1 1 UK IT 0 0 0 1 1 0 0 0 0 X 34 33 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CT X X Michael Trafecante 2032544000 1073 North Benson Rd Fairfield CT 06824 Nancy A Altobello 1.00 X 0 0 0 William L Atwell 1.00 X 0 0 0 Rev John F Baldovin SJ 1.00 X 0 0 0 Rev Terrence A Baum SJ 1.00 X 0 0 0 Rev Thomas G Benz SJ 1.00 X 0 0 0 Joseph R Bronson 1.00 X 0 0 0 Frank J Carroll III 1.00 X 0 0 0 Kevin M Conlisk 1.00 X 0 0 0 Timothy J Conway 1.00 X 0 0 0 William C Crager 1.00 X 0 0 0 Sheila Kearney Davidson 1.00 X 0 0 0 William P Egan 1.00 X 0 0 0 Thomas A Franko 1.00 X 0 0 0 Peter J Gillen 1.00 X 0 0 0 Patricia E Glassford 1.00 X 0 0 0 Brian P Hull 1.00 X 0 0 0 Paul J Huston 1.00 X 0 0 0 Jack L Kelly 1.00 X 0 0 0 Susan Robinson King 1.00 X 0 0 0 Katherine N Lapp 1.00 X 0 0 0 William A McIntosh 1.00 X 0 0 0 Andrew J McMahon 1.00 X 0 0 0 John C Meditz 1.00 X 0 0 0 Elner L Morrell 1.00 X 0 0 0 Most Rev George V Murry SJ 1.00 X 0 0 0 Gavin G O'Connor 1.00 X 0 0 0 Biff J O'Reilly 1.00 X 0 0 0 Rev Stephen A Privett SJ 1.00 X 0 0 0 Christopher C Quick 1.00 X 0 0 0 Rosellen W Schnurr 1.00 X 0 0 0 Kelly A Simon 1.00 X 0 0 0 Marianne Dolan Weber 1.00 X 0 0 0 James D Wehr 1.00 X 0 0 0 Rev Jeffrey P von Arx SJ 35.00 X 300000 0 88461 Mark Reed 35.00 X 227727 0 46329 Rev Paul Fitzgerald 35.00 X 220733 0 47110 Robbin Crabtree 35.00 X 201248 0 44038 Donald Gibson 35.00 X 157872 0 42960 Sydney Johnson 35.00 X 466091 0 56294 Michael Tucker 35.00 X 180063 0 40114 Gregory Koutmos 35.00 X 185352 0 43877 Orin Grossman 35.00 X 189680 0 9576 Joseph Frager 35.00 X 187066 0 41095 Julie L Dolan 35.00 X 261563 0 47893 Stephanie Frost 35.00 X 260294 0 47875 Susan Franzosa 35.00 X 162679 0 38929 3000368 0 594551 155 1 1 0 Sodexho Inc & Affiliates PO Box 352 Buffalo NY 14240 Dining Service 8703408 Ellucian Company LP 4 Country View Rd Malvern PA 19355 IT Support Services 3404968 ABM Janitorial Sevives 551 Fifth Ave New York NY 10176 Custodial Services 2698822 The Fairfield Jesuit Community Fairfield Univ Ignatius House Fairfield CT 06824 Admin & Teaching Services 1931871 Hess Corporation 1 Hess Plaza Woodbridge NJ 07095 Natural Gas Provider 1754494 93 4326297 22999455 2415687 27325752 Tuition & Fees 611600 182060467 182060467 Auxiliary Services 721000 36956883 36956883 3268861 3268861 222286211 1017239 1017239 75563792 61512774 14051018 14051018 14051018 560136 120799 439337 439337 Miscellaneous Income 611710 643332 643332 Summer Conference 611710 214222 214222 857554 265977111 222286211 857554 15507594 57843819 57843819 1792116 842532 589290 360294 68436983 58209876 7139103 3088004 4630263 3878790 512493 238980 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613431750 645239650 X 28489717 11991844 -718148 X 1 X 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X 9 30.00 0 2 0 1 1 65.00 40000 0 X X X X 0 256129303 7440796 27269923 -3884790 -7012922 279942310 258747437 14963728 -6371279 -3395380 -7815203 256129303 223395750 3930822 42769642 -3160570 -8188207 258747437 203162188 7788395 24663208 -3333986 -8884055 223395750 265719544 6645573 -57508960 -3398211 -8295758 203162188 0.54700 0.45300 0 0 6088550 6088550 400922338 161261325 239661013 15572380 6263613 9308767 48965041 19695004 29270037 1215215 488785 726430 285054797 54096342 F 54096342 Capital Leases 93652 93652 277250807 11991844 11991844 265258963 718148 718148 265977111 237487394 0 237487394 0 237487394 Description of How Organization Reports Conservation Easements: Part II, Line 9: Part II Line 9: The University does not report conservation easements in its Financial Statements Part III, Line 4: The Art Collections are important cultural resources of the University, providing arts and academic enrichment to the students, faculty, local community, and international scholarly community. The collections are housed at the Lukacs Gallery, Thomas J. Walsh Art Gallery, the Bellarmine Museum & various locations on campus A website has been designed to give access to these works of art, collections and venues and to provide historical and technical information on the works. The Bellarmine 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 for individuals Description of Intended Use of Endowment Funds: 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. Part XI, Line 4b - Other Adjustments: Intercompany adjustments between Univ and Prep School 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 Explanation of Government Financial Assistance 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. Explanation of Racial Nondiscrimination Compliance Schedule E, Part I, Line 7 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. Europe (Including Iceland & Greenland) 1 2 Program Service Study Abroad Academic Programs 4144957 Central America and the Caribbean 0 0 Program Service Study Abroad Academic Programs 156770 East Asia and the Pacific 0 0 Program Service Study Abroad Academic Programs 198923 Sub-Saharan Africa 0 0 Program Service Study Abroad Academic Programs 59632 1 2 0 0 1 2 4560282 0 4560282 0 0 0 0 0 0 Method Used to Acccount for Expenditures: Schedule F, Part I, Line 3: Accrual Method X X X X X X 0 Alumni Awards Dinner 560136 560136 120799 560136 560136 120799 120799 439337 1 Institutional Scholarships 3526 44025142 Book Value Athletic Scholarships 287 5852948 Book Value State and Federal Grants 577 1691075 Book Value Prep School Financial Aid 245 2220087 Book Value Other Financial Aid 520 4054567 Book Value Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: Several procedures and reports are used annually to monitor financial aid including: Independent auditors complete the A-133 audit relating to federal student aid; The FISAP report for the Department of Education; Common Data Set (CDS) which is a set of standards and definitions among the higher education community & publishers as represented by the College Board, Peterson's, U.S. News & World Report & the Wintergreen Orchard House. X X X 1 1 X X X X X X 0 0 0 0 0 0 0 0 0 Rev Jeffrey P von Arx SJ 300000 0 0 0 0 0 27000 0 61461 0 388461 0 376279 0 Mark Reed 227727 0 0 0 0 0 17692 0 28637 0 274056 0 267743 0 Rev Paul Fitzgerald 220733 0 0 0 0 0 19859 0 27251 0 267843 0 255372 0 Robbin Crabtree 201248 0 0 0 0 0 18051 0 25987 0 245286 0 231529 0 Donald Gibson 157872 0 0 0 0 0 14976 0 27984 0 200832 0 0 0 Sydney Johnson 466091 0 0 0 0 0 20000 0 36294 0 522385 0 387143 0 Michael Tucker 180063 0 0 0 0 0 14007 0 26107 0 220177 0 213366 0 Gregory Koutmos 185352 0 0 0 0 0 17276 0 26601 0 229229 0 230093 0 Orin Grossman 189680 0 0 0 0 0 0 0 9576 0 199256 0 235470 0 Joseph Frager 187066 0 0 0 0 0 14473 0 26622 0 228161 0 0 0 Julie L Dolan 261563 0 0 0 0 0 20000 0 27893 0 309456 0 310380 0 Stephanie Frost 260294 0 0 0 0 0 20000 0 27875 0 308169 0 308741 0 Susan Franzosa 162679 0 0 0 0 0 13225 0 25704 0 201608 0 191837 0 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. The Head Coach for men's basketball received membership to a club for the purpose of entertaining potential donors to the Athletic programs. Supplemental Information Part III The salary and benefit equivalents for the President, and Senior VP, Academic Affairs are paid to the Jesuit Community rather than to the individual themselves. A CHEFA Fairfield University Series M 060806186 20774UVX0 2008-04-10 39445697 CHEFA Series K and Series L1 Second Tranche Debt 1 1 0 B CHEFA Fairfield University Series N 060806186 20774UK87 2008-08-21 110773813 Refund CHEFA Series L1 and L2 Debt 1 1 0 C CHEFA Fairfield University Series O 060806186 20774UW50 2010-03-17 73474749 Construction of Various Campus Facilities 0 1 0 D CHEFA Fairfield University Series P 060806186 20774UY41 2010-03-17 11573281 Current Refunding of CHEFA Series H 1 1 0 A 39445697 3051849 35904181 489666 1 0 1 1 B 110773813 9938250 96694158 786405 3355000 1 0 1 1 C 73474749 7011334 4732010 731405 61000000 2012 0 0 1 1 D 11573281 1065750 10391034 116497 1 0 1 1 A 0 0 0 0 0.03000 0.03000 0 0 0 B 0 0 0 0 0.03000 0.03000 0 0 0 C 0 0 0 0 0.03000 0.03000 0 0 0 D 0 0 0 0 0.03000 0.03000 0 0 0 A 1 0 0 0 0 0 B 1 0 0 0 0 0 C 1 0 0 0 0 0 D 1 0 0 0 0 0 X 3 83400 Appraisal X 46 2285837 Market Value X 1 7439 Actual Cost X Media Coverage 2 24660 Market Value X Golf Greens Fees 10 2500 Actual Cost X Baseball Tickets 2 1850 Actual Cost X Sports Equipment 1 10000 Actual Cost 2 0 0 1 Method for Determining Number of Contributors: Part I, Column (b): The listing of non-cash contributors is indicating the actual number of contributors. Third Party Use: Part I, Line 32b: The University uses the services of a securities broker to sell contributions of publicly traded securities. Form 990, Part VI, Section B, line 11 a) It is the policy of Fairfield University that the Board of Trustees is presented with a copy of the completed IRS Form 990 before it is filed with the IRS. b) The Form 990 is sent electronically to each Trustee. c) Form 990 (Return of Organization Exempt from Income Tax) is reviewed and approved by the Vice President for Finance before it is forwarded to the Board. d) Form 990 is reviewed by the Finance and Audit Committee before it is filed with the IRS. e) A Board resolution is not required in order for the Form 990 to be filed. 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. 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 conflict nor seek to influence the other Trustees on that question. Form 990, Part VI, Section B, line 15 The process includes all of these elements: (1) Review and approval by the Board of Trustees; (2) Use of data as to comparable compensation; and (3) Contemporaneous documentation and recordkeeping. 1. Review and approval: The 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 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. 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 Changes in Net Assets or Fund Balances: Form 990, Part XI, line 9: Intercompany adjustments between University & Prep School -718,148.