2013-05-15T09:47:40-05:00 2012-06-30 KPMG LLP 60 South Street Boston MA 02111 990 2011-07-01 042103552 Brandeis University % MARIANNE CWALINA SVP & CFO BRAN 7817362000 PO BOX 9110 WALTHAM MA 024549110 Marianne Cwalina 2013-05-14 6179881000 2011 2016-02-24 21:20:13Z FREDERICK LAWRENCE 415 SOUTH STREET WALTHAM MA 02454 514112459 false X WWW.BRANDEIS.EDU X 1947 MA BRANDEIS UNIVERSITY IS AN EDUCATIONAL INSTITUTION, A COMMUNITY OF SCHOLARS AND STUDENTS UNITED BY THEIR COMMITMENT TO THE PURSUIT OF KNOWLEDGE AND ITS TRANSMISSION FROM GENERATION TO GENERATION. 43 39 5219 2223 382973 -365872 28970389 38465958 290305941 308436909 25680133 14337030 3095169 2711694 348051632 363951591 77952528 86311234 0 0 160051028 163045041 0 0 10788185 129863219 131588453 367866775 380944728 -19815143 -16993137 1227577913 1179085690 345446505 335062622 882131408 844023068 BRANDEIS UNIVERSITY IS AN EDUCATIONAL INSTITUTION, A COMMUNITY OF SCHOLARS AND STUDENTS UNITED BY THEIR COMMITMENT TO THE PURSUIT OF KNOWLEDGE AND ITS TRANSMISSION FROM GENERATION TO GENERATION. false false 256757703 84234878 213394155 Brandeis University is a rare combination of a liberal arts college and a global research university. Our student body numbers 5,000, including undergraduates and graduate students. We have a Graduate School of Arts and Sciences and two professional schools, the Heller School for Social Policy and Management and the International Business School. The Rabb School of Continuing Studies offers graduate professional programs for part-time students. Many academic programs are enriched by myriad interactions with the numerous other leading universities in the area. We work to connect theory and practice, through field work, internships and other forms of experiential learning. 46516456 2076356 63817278 Sponsored Programs include various research and instructional programs funded by external parties, including the Federal government, foreign and state governments and private foundations and corporations. Brandeis research is at the heart of many societal, artistic, intellectual and scientific advances. Research at Brandeis is interdisciplinary, bold and collaborative. Its an approach that enables the faculty to leverage the relatively small size of the university to achieve an impact well beyond the sum of its parts. Brandeis is wholly committed to the proposition that basic research is the engine of innovation in human health and well-being. 34510667 0 31647950 Auxiliary Enterprises: Brandeis University serves the needs and interests of students and has broad responsibility for the services and activities that enhance the quality of student outside the classroom. These services and activities include but are not limited to community living, dining services, health center, psychological counseling center, and interfaith chaplaincy. 337784826 true true false true true false true false true true false false false true true true false true false true true true false true false false true true true true false false false false false false true false true true true true false false false true true false false false true 6557 0 true 5219 true true true true IS false false false true true false false false false false false false X 43 39 false false false false false false false true true false true true true true true true true true true true false AZ CA FL MD MA NJ NY X X MARIANNE CWALINA SVP CFO 7817362000 415 SOUTH STREET WALTHAM MA 02453 X MALCOLM L SHERMAN 2.0 X 0 0 0 JONATHAN G DAVIS 2.0 X 0 0 0 JONATHON S JACOBSON 2.0 X 0 0 0 MARTIN J GROSS 2.0 X 0 0 0 BARBARA A MANDEL 2.0 X 0 0 0 HENRY ABOODI 1.0 X 0 0 0 ALLEN B ALTER 1.0 X 0 0 0 LEONARD J 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false false false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 2989 2989 false LOBBYING ACTIVITY PART II-B, LINE 1I The University is a member of various national and state organizations, such as Association of American Universities and Association of Independent Colleges and Universities in Massachusetts. Membership fees to these organizations allocable to lobbying activities amounted to $2,989. 17 1063980 1003150 1051372 true true X X X X false 703665944 18097358 -11665134 11594796 23981507 674521865 619897000 16645427 98208640 9358751 21726372 703665944 558516000 16165000 77440000 10753000 21471000 619897000 712132000 14189000 -126913000 9694000 31198000 558516000 0.12500 0.86700 0.00800 false false 42193728 42193728 338618513 119741361 218877152 173088170 108172148 64916022 79520982 51110267 28410715 354397617 0 ESTIMATED LIABILITY TO ANNUITANTS 11643745 REFUNDABLE STUDENT LOAN ADVANCES 6100139 17743884 363951591 380944728 -16993137 -18788684 -2326520 -21115204 -38108341 256152398 -18788684 -86561399 -105350083 361502481 2449110 2449110 363951591 294260739 294260739 2449110 84234879 86683989 380944728 COLLECTIONS OF ART PART III, LINE 1: AUDITED FINANCIAL STATEMENT FOOTNOTE 1(N) Collections at Brandeis University are protected and preserved for public exhibition, education, research and the furtherance of public service. Collections are not capitalized; sales of collection items are recorded as revenue and purchases of collection items are recorded as nonoperating expenses in the University's financial statements in the period in which the items are sold or acquired, respectively. PART III, LINE 4 Founded in 1961, The Rose Art Museum (The Rose) is an integral part of Brandeis University. The Rose is an educational and cultural museum dedicating to collecting, preserving and exhibiting the finest of modern and contemporary art. The programs of the Rose adhere to the overall mission of the University, embracing its values of academic excellence, social justice, and freedom of expression. The rose is active in the academic, cultural, and social life of Brandeis. The Rose seeks to stimulate public awareness and disseminate knowledge of modern and contemporary art to enrich educational, cultural, and artistic communities regionally, nationally, and internationally. It promotes learning and understanding of the evolving meanings, ideas, and forms of visual art relevant to contemporary society. ENDOWMENT FUNDS PART V, LINE 4 Brandeis University's endowment and quasi-endowment consists of approximately 1,800 individual endowment accounts established for a variety of purposes in accordance with the applicable law and donor intent and funds designated by the University's board to operate as endowment (quasi-endowment). A majority of the funds provide scholarships and financial aid assistance to undergraduate and graduate students. Other uses of the funds include, but are not limited to, support for fellowships, the creation and funding of endowed chairs and professorships, and support for the University's teaching and research activities. The University's endowment investment objectives are to maximize risk-adjusted returns for a long-term horizon. The endowment intends to achieve its objectives by investing in multiple asset classes. In order to meet the primary investment goals for endowment funds, the average annual net total return over an extended period, after adjusting for inflation, is deemed sufficient to support the spending rate as determined by the University's board of trustees. To have a reasonable probability of achieving the endowment's primary investment goal at an acceptable risk level, the investment committee has adopted a long-term asset allocation policy. OTHER DECREASES IN FUND BALANCES PART XI, LINE 8 NET CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS (1,601,798) CHANGE IN VALUE OF FUNDS HELD IN TRUSTS BY OTHERS (517,787) ADJUSTMENT TO LOAN RESERVES (206,935) ----------- TOTAL: (2,326,520) OTHER REVENUE INCLUDED IN FINANCIAL STATEMENTS BUT NOT ON RETURN PART XII, LINE 2D UNIVERSITY FUNDED FINANCIAL AID - TUITION DISCOUNT (84,234,879) NET CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS (1,601,798) CHANGE IN VALUE OF FUNDS HELD IN TRUSTS BY OTHERS (517,787) ADJUSTMENT TO LOAN RESERVES (206,935) ----------- TOTAL: (86,561,399) OTHER EXPENSES INCLUDED ON RETURN BUT NOT IN FINANCIAL STATEMENTS PART XIII, LINE 4B UNIVERSITY FUNDED FINANCIAL AID - TUITION DISCOUNT 84,234,879 FIN 48 (ASC 740) FOOTNOTE PART X, LINE 2 The University is a not-for-profit organization as described in Section 501(c)(3) of the Internal Revenue Code, as amended (the Code), and is generally exempt from income taxes pursuant to Section 501(a) of the Code. The University is required to assess uncertain tax position and has determined that there were no such positions that would jeopardize its tax-exempt status or have a material effect on the financial statements. true true true true true true true false false false false false false false false true false true NONDISCRIMINATION POLICY PART I, LINE 3 One of the pillars upon which Brandeis is built, carried out in writing and action, is welcoming students, teachers, staff and community members of every race, color, ancestry, religious creed, gender identity and expression, national or ethnic origin, sex, sexual orientation, age, genetic information, disability, Vietnam Era veteran, qualified special, disabled veteran or other eligible veteran status or any other category protected by law. Brandeis University consistently makes our racially nondiscriminatory policy known to all segments of the general community served by the school through notices, orientations, and other media. Our policies are made available on www.brandeis.edu. FUNDS FROM GOVERNMENT AGENCIES PART I, LINE 6A The University received funds from various governmental agencies for the purpose of providing financial assistance to qualified recipients, to support sponsored research and the construction of educational facilities. true Central America and the Caribbean 0 0 Program Services STUDY ABROAD 27415 East Asia and the Pacific 0 0 Program Services STUDY ABROAD 455451 Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD 1903401 Middle East and North Africa 0 0 Program Services STUDY ABROAD 252699 North America 0 0 Program Services STUDY ABROAD 8612 South America 0 0 Program Services STUDY ABROAD 262568 South Asia 0 0 Program Services STUDY ABROAD 41432 Sub-Saharan Africa 0 0 Program Services STUDY ABROAD 174739 Europe (Including Iceland and Greenland) 0 0 Program Services CERN 1413895 South America 0 0 Program Services RESEARCH 32486 Europe (Including Iceland and Greenland) 0 0 Investments 4157440 Central America and the Caribbean 0 0 Investments 193093625 0 0 0 0 201823763 201823763 South America 32486 WIRE SCHOLARSHIP AND FINANCIAL AID East Asia/Pacific 23 272783 SEE PART V SCHOLARSHIP AND FINANCIAL AID Europe/Iceland/Greenland 60 674997 SEE PART V SCHOLARSHIP AND FINANCIAL AID Middle East/North Africa 13 113985 SEE PART V SCHOLARSHIP AND FINANCIAL AID North America 1 8612 SEE PART V SCHOLARSHIP AND FINANCIAL AID South America 15 138125 SEE PART V SCHOLARSHIP AND FINANCIAL AID South Asia 2 16135 SEE PART V SCHOLARSHIP AND FINANCIAL AID Sub-Saharan Africa 10 85225 SEE PART V true false true true true true PROCEDURE FOR MONITORING USE OF GRANT FUNDS TO INDIVIDUALS Part I, line 2 Brandeis University provides grants and scholarships to students that are studying abroad. The University ensures that such grants and other assistance are used for study abroad purposes or are not otherwise diverted from the intended use by directly applying the grants and assistance to the study abroad institutions. PROCEDURE OF MONITORING USE OF GRANTS TO GOVERNMENTAL AGENCIES PART I, LINE 2 The University maintains its grant funds in individual grant accounts and is required to be audited annually (A-133). In addition, the University has established research policies and procedures as guidelines to principal investigators in managing their grant at Brandeis University. MANNER OF CASH DISBURSEMENT PART III, COLUMN (E) Scholarships and financial aid to students are credited to each student's account and paid directly to the study abroad institutions. 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In addition, the University has established research policies and procedures as guidelines to principal investigators in managing their grant at Brandeis University. The University provides grants and scholarships to students and applies the financial aid directly crediting each student's account. X X X X X true true X X X X X X false true false false false false false false false FREDERICK M LAWRENCE 539446 0 0 0 166397 0 24500 0 15400 0 745743 0 0 0 STEVEN GOLDSTEIN 204251 0 0 0 32664 0 17667 0 6825 0 261407 0 0 0 DAVID BUNIS 409261 0 0 0 58002 0 0 0 6930 0 474193 0 0 0 MARTHA KRAUSS 202665 0 0 0 31447 0 21022 0 14468 0 269602 0 0 0 FRANCES DROLETTE 321752 0 0 0 7057 0 24500 0 17042 0 370351 0 0 0 CHRISTOPHER O'BRIEN 208793 0 0 0 3667 0 21263 0 1666 0 235389 0 0 0 JOHN HOSE 178649 0 0 0 5438 0 18751 0 14059 0 216897 0 0 0 NANCY WINSHIP 302811 0 0 0 103709 0 24500 0 43958 0 474978 0 0 0 NICHOLAS WARREN 357500 0 50000 0 27360 0 0 0 1642 0 436502 0 0 0 MARK COLLINS 236928 0 0 0 49421 0 23764 0 2443 0 312556 0 0 0 JUDITH SIZER 197406 0 0 0 1524 0 19899 0 6904 0 225733 0 0 0 ANDREW GULLY 267669 0 0 0 4111 0 24500 0 20767 0 317047 0 0 0 JEHUDA REINHARZ 495246 0 0 0 96007 0 24500 0 6721 0 622474 0 0 0 BRUCE MAGID 323702 0 0 0 35948 0 24500 0 30586 0 414736 0 0 0 IRVING EPSTEIN 271329 0 0 0 5552 0 24500 0 1731 0 303112 0 0 0 EVE MARDER 258431 0 0 0 3526 0 24500 0 6489 0 292946 0 0 0 LISA LYNCH 240176 0 0 0 3612 0 24500 0 14932 0 283220 0 0 0 PART I, LINE 1A AND LINE 2 TRAVEL FOR COMPANIONS: According to the University policy, travel for the spouse of the University's president shall only be reimbursed if incurred while conducting business of the University. Such reimbursement requires substantiation as well as review and approval by the board of trustees prior to the reimbursement. During calendar year 2011, the University reimbursed President Lawrence for travel expenses incurred by his spouse while conducting business of the University. Such reimbursements were made in accordance with University policy. TAX INDEMNIFICATION: President Lawrence's taxable wages during calendar year 2011 were increased to cover the taxes for housing allowance, housekeeping services, personal use of automobile and legal expenses. The wages of Dr. Reinharz and two other key executives were increased to cover the taxes for legal expenses. HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE: During calendar year 2011, the University provided President Lawrence with a housing allowance. The value of such housing allowance was treated as taxable and included in President Lawrence's Form W-2 and reported on Schedule J, Part II, Column B(iii). During the first half of calendar year 2011, Dr. Reinharz maintained his residence in a University-owned property that was his residence during his tenure as president of Brandeis University, which ended on December 31, 2010. The value of such housing benefit was treated as taxable and included in Dr. Reinharz' Form W-2 and reported on Schedule J, Part II, Column B(iii). The employment contract of a certain key executive provide for an annual housing allowance. During calendar year 2011, a senior vice president received such benefit, which was included in her Form W-2 and reported on Schedule J, Part II, Column B(iii). HEALTH OR SOCIAL CLUB DUES: According to the University policy, the University will reimburse certain officers for health club dues. During calendar year 2011, the University provided health club dues reimbursement to four officers. The amount paid by the University was included in the individuals' Form W-2 and reported on Schedule J, Part II, Column B(iii). PERSONAL SERVICES: According to the University policy, the University is responsible for maintaining the president's residence. The value of the houskeeping services provided to the residence that were personal in nature was included in his Form W-2 and reported on Schedule J, Part II, Column B(iii). The University also maintained the University-owned residence that was occupied by Dr. Reinharz during the first half of calendar year 2011. The value of the housekeeping services were included in his Form W-2 and reported on Schedule J, Part II, Column B(iii). OTHER BUSINESS EXPENSES: The University reimburses its officers and key employees for ordinary and necessary business expenses incurred while conducting business of the University. Such reimbursement is made under an accountable plan and requires substantiation using the original expense documentations and approval by appropriate parties as authorized under University policy. DEFERRED COMPENSATION ARRANGEMENT PART I, LINE 4B After serving as president of the University for over 16 years, Dr. Jehuda Reinharz retired from that position at the end of 2010 and continues to fulfill specified duties as president emeritus and a faculty member. Dr. Reinharz participated in a nonqualified deferred compensation retirement arrangement under Internal Revenue Code Section 457(f), including a supplemental executive retirement plan (SERP), designed to provide the equivalent of a pension benefit upon termination of service. No amounts were vested or paid during calendar year 2011 under the deferred compensation arrangement. 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LERMAN - TRUSTEE 11676217 CONTRACT FOR DINING SERVICES false HIGHFIELDS CAPITAL LTD J. JACOBSON - TRUSTEE 159495 INVESTMENT FEES false DR SHULAMIT REINHARZ SPOUSE OF J. REINHARZ 121297 EMPLOYEE COMPENSATION false MARGOT T DAVIS SPOUSE OF TRUSTEE J.DAVIS 65435 EMPLOYEE COMPENSATION false PART IV THE UNIVERSITY ENGAGES IN ACTIVITIES, IN THE ORDINARY COURSE OF BUSINESS, WITH ORGANIZATIONS WHOSE OFFICERS, DIRECTORS OR TRUSTEES MAY BE OFFICERS, TRUSTEES, OR FAMILY MEMBERS OF OFFICERS OR TRUSTEES OF THE UNIVERSITY, AS FOLLOWS: THE UNIVERSITY HAS A CONTRACT FOR DINING SERVICES WITH ARAMARK CORPORATION OF WHICH THE SPOUSE OF TRUSTEE JEANETTE LERMAN IS A PRINCIPAL OWNER. THIS CONTRACT RESULTED FROM A COMPETITIVE BID PROCESS AND THE NORMAL PROCUREMENT PROCESS. IN FISCAL YEAR 2012 THE UNIVERSITY PAID ARAMARK $11,676,217 FOR DINING SERVICES. THE UNIVERSITY HAS INVESTED IN HIGHFIELDS CAPITAL LTD. INVESTMENT FUND OF WHICH JONATHON S. JACOBSON, TRUSTEE, IS A PARTNER. THIS INVESTMENT WAS ENTERED INTO AT ARM'S LENGTH IN THE ORDINARY COURSE OF BUSINESS PRIOR TO THE ELECTION OF MR. JACOBSON AS A TRUSTEE. NO ADDITIONAL FUNDS HAVE BEEN CONTRIBUTED SINCE MR. JACOBSON'S ELECTION. DR. SHULAMIT REINHARZ, SPOUSE OF FORMER PRESIDENT REINHARZ, IS EMPLOYED BY THE UNIVERSITY. AS A FULL-TIME TENURED FACULTY MEMBER, DR. REINHARZ RECEIVED EMPLOYEE COMPENSATION OF $121,297. FORMER PRESIDENT REINHARZ DOES NOT PARTICIPATE IN ESTABLISHING THE COMPENSATION OF DR. REINHARZ. MARGOT T. DAVIS, SPOUSE OF UNIVERSITY TRUSTEE JONATHAN G. DAVIS, IS EMPLOYED BY THE UNIVERSITY AS A PART-TIME SENIOR RESEARCH ASSOCIATE. DR. DAVIS RECEIVED EMPLOYEE COMPENSATION OF $65,435. TRUSTEE DAVIS DOES NOT PARTICIPATE IN ESTABLISHING THE COMPENSATION OF DR. DAVIS. X 15 82000 DONOR'S APPRAISAL X 84 1724319 AVERAGE OF HIGH-LOW 0 false true false GIFT ACCEPTANCE POLICY PART I, LINE 31 BRANDEIS UNIVERSITY'S GIFT ACCEPTANCE POLICY IS AVAILABLE ONLINE AT WWW.BRANDEIS.EDU. ORGANIZATION'S MISSION FORM 990, PART I, LINE 1 Brandeis University is a community of scholars and students united by their commitment to the pursuit of knowledge and its transmission from generation to generation. As a research University, Brandeis is dedicated to the advancement of the humanities, arts and social, natural and physical sciences. As a liberal arts college, Brandeis affirms the importance of a broad and critical education in enriching the lives of students and preparing them for full participation in a changing society, capable of promoting their own welfare, yet remaining deeply concerned about the welfare of others. In a world of challenging social and technological transformation, Brandeis remains a center of open inquiry and teaching, cherishing its independence from any doctrine of government. It strives to reflect the heterogeneity of the United States and of the world community whose ideas and concerns it shares. In the belief that the most important learning derives from the personal encounter and joint work of teachers and students, Brandeis encourages undergraduates and postgraduates to participate with distinguished faculty in research, scholarship and artistic activities. REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11B Senior management is responsible for drafting Form 990. The completed draft is submitted for review by the University's audit firm. Recommended changes are discussed with senior management and incorporated into the return, as appropriate. For fiscal 2012, the Board of Trustees has delegated the review of the Form 990 to the Audit Committee, with the General Counsel reporting to the Audit Committee concerning material conflict of interest matters. The Audit Committee reviewed the Form 990 and discussed any questions with senior management and the University's audit firm. After the Audit Committee review, and prior to filing the completed Form 990, a copy of the Form 990 was sent to each member of the Board of Trustees. CONFLICT OF INTEREST POLICY FORM 990, PART VI, SECTION B, LINE 12C The Brandeis University conflict of interest policy for trustees, officers and committee members establishes a process whereby potential, apparent and actual conflicts of interest of trustees, officers and non-trustee committee members may properly be avoided or managed so that the best interests of the University are protected. Officers, trustees and committee members complete an annual conflict of interest disclosure form, which is consistent with the policy and the applicable regulatory and auditing requirements. Certain senior officers and financial employees are also required to complete an annual disclosure form with respect to the University's investments. The Personnel, Compensation and Ethics Committee (The "PCEC"), with the assistance of the SVP & General Counsel, oversees the collection and review of the disclosure forms. In the case of a potential, apparent, or actual related party transaction nor other situation presenting a possible conflict of interest, the PCEC chair is responsible for deciding whether to submit the transaction or situation to the PCEC or the board for a determination. In addition, the University has established a separate conflict of interest policy for its employees. Under this policy, disclosure forms are completed annually by all senior officers, the President's cabinet, Department chairs, heads of centers and institutes, principal investigators, and other designated senior officials and financial personnel. COMPENSATION POLICY FORM 990, PART VI, SECTION B, LINE 15B The University is committed to attracting, retaining, and motivating qualified employees, relating compensation to performance, promoting an equitable relationship between compensation and responsibility and ensuring compliance with law and regulation. This process is the foundation of all hiring, annual performance evaluations and salary adjustments. The Personnel, Compensation and Ethics Committee (The "PCEC") is authorized by the Board of Trustees and directed to perform a direct review and approval at regular intervals of the performance and compensation of the officers, and where appropriate, other senior management of the University. The PCEC utilizes independent external consultants to assist with both the review of compensation agreements and the gathering of comparability data in determining the reasonableness of compensation and compliance with the procedures described in Treasury Regulation Section 53.4958-6. PUBLIC DISCLOSURE FORM 990, PART VI, SECTION C, LINE 19 The organization's financial statements are available online at www.brandeis.edu/financialaffairs. The University's governing documents are available online at www.brandeis.edu. The organization's Form 990 and audited financial statements are also available at the website of Massachusetts Attorney General. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 5 UNREALIZED LOSSES ON INVESTMENTS (18,788,683) NET CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS (1,601,798) CHANGE IN VALUE OF FUNDS HELD IN TRUST BY OTHERS (517,787) ADJUSTMENT TO LOAN RESERVES (206,935) ------------ TOTAL: (21,115,203) CHARITABLE REMAINDER TRUSTS (13) N/A false false false false false false false false false false false false false false false false false false