2013-05-15T12:57:50-05:00 2012-06-30 GRANT THORNTON LLP 2001 MARKET STREET SUITE 3100 PHILADELPHIA PA 19103 990 2011-07-01 516000297 UNIVERSITY OF DELAWARE % AMY CONNELL-CONTROLLER UNIV 3028318964 220 Hullihen Hall NEWARK DE 19716 Scott R Douglass 2013-05-14 true A Ronald Taxin 2155614200 2011 2016-02-24 21:20:13Z PATRICK T HARKER 104A HULLIHEN HALL NEWARK DE 19716 2204270750 false X WWW.UDEL.EDU X 1833 DE INSTRUCTION, RESEARCH, AND PUBLIC SERVICE ARE THE MOST SIGNIFICANT ACTIVITIES. 32 31 13856 31 3171736 -1766948 155454131 180105973 723013805 769748733 56892686 32168387 37728047 28274959 973088669 1010298052 101398659 110209393 0 0 499382808 528076558 0 0 9899178 301286199 298248907 902067666 936534858 71021003 73763194 2739095521 2777532648 736113234 825642157 2002982287 1951890491 X MISSION STATEMENT: THE UNIVERSITY OF DELAWARE EXISTS TO CULTIVATE LEARNING, DEVELOP KNOWLEDGE, AND FOSTER THE FREE EXCHANGE OF IDEAS. STATE-ASSISTED YET PRIVATELY GOVERNED, THE UNIVERSITY HAS A STRONG TRADITION OF DISTINGUISHED SCHOLARSHIP, RESEARCH, TEACHING, AND SERVICE THAT IS GROUNDED IN A COMMITMENT TO INCREASING AND DISSEMINATING SCIENTIFIC, HUMANISTIC, AND SOCIAL KNOWLEDGE FOR THE BENEFIT OF THE LARGER SOCIETY. FOUNDED IN 1743 AND CHARTERED BY THE STATE IN 1833, THE UNIVERSITY OF DELAWARE TODAY IS A LAND-GRANT, SEA-GRANT, SPACE-GRANT, AND URBAN-GRANT UNIVERSITY. THE UNIVERSITY OF DELAWARE IS A MAJOR RESEARCH UNIVERSITY WITH EXTENSIVE GRADUATE PROGRAMS THAT IS ALSO DEDICATED TO OUTSTANDING UNDERGRADUATE AND PROFESSIONAL EDUCATION. UNIVERSITY FACULTY ARE COMMITTED TO THE INTELLECTUAL, CULTURAL, AND ETHICAL DEVELOPMENT OF STUDENTS AS CITIZENS, SCHOLARS AND PROFESSIONALS. UNIVERSITY GRADUATES ARE PREPARED TO CONTRIBUTE TO A GLOBAL SOCIETY THAT REQUIRES LEADERS WITH CREATIVITY, INTEG false false 461878468 110209393 462142820 INSTRUCTION AND DEPARTMENTAL RESEARCH - STUDENT ENROLLMENT DURING PERIOD WAS 21,000 135705814 165692060 SPONSORED RESEARCH 96971967 110657191 AUXILIARY ENTERPRISES 59672891 13918589 ACADEMIC SUPPORT 46793290 17338073 EXTENSION AND PUBLIC SERVICE 29793344 0 STUDENT SERVICES 136259525 31256662 830815774 true true false true false true false true true true true true false false true true true true true true true false false false true false false false true true true false false false false false false true true true true true true false false true true true true false false true 2028 0 true 13856 true true true true FR false true true false true true true 2 false false false X 32 31 true false false false false true false true true false false true true true true true true true true true false AK AZ CO KY MD MA MI NH OH OK OR SC X AMY CONNELL-CONTROLLER 3028312175 UNIVERSITY OF DE 220 HULLIHEN HALL NEWARK DE 19716 Tony Allen Sr 2.0 X Grace Bennett 2.0 X James Borel 4.0 X Thomas Burns 4.0 X Irwin G Burton III 2.0 X RRM Carpenter III 4.0 X Allison Castellanos 2.0 X William B Chandler III 2.0 X John Cochran 6.0 X Howard Cosgrove 4.0 X Robert A Fischer 6.0 X Michael S Geltzeiler 2.0 X Stuart M Grant 2.0 X Henley T Graves 2.0 X Terri Quinn Gray 2.0 X Scott A Green 2.0 X Terri Kelly 2.0 X Dennis E Klima 2.0 X Carey M Koppenhaver 4.0 X Jack A Markell 2.0 X Cynthia Primo Martin 2.0 X William H Narvel Jr 2.0 X Christopher H Schell 2.0 X A Gilchrist Sparks III 8.0 X Everett C Toomey 2.0 X H Wesley Towers Jr 2.0 X P Coleman Townsend Jr 4.0 X Sherman L Townsend 2.0 X John E Wallace 2.0 X Kenneth Whitney 2.0 X Mary Jane Willis 4.0 X Patrick T Harker 55.0 X X 747507 0 83126 Thomas Mark Apple 55.0 X 393574 0 55062 Nancy Brickhouse 55.0 X 195060 32661 Jennifer W Davis 55.0 X 285834 0 42281 Scott R Douglass 55.0 X 423436 0 41813 Michael Gilbert 55.0 X 242301 0 39672 Pierre Hayward 55.0 X 273986 0 44774 Carl W Jacobson 55.0 X 245990 0 45357 Monica Marie Taylor 55.0 X 326871 0 34389 David Brond 55.0 X 251131 0 45592 David Singleton 55.0 X 222506 0 40876 Lawrence White 55.0 X 279543 0 31663 Patricia Ann Plummer Wilson 55.0 X 224586 0 38518 Kathleen Sharon Matt 55.0 X 279524 0 47631 Robin W Morgan 55.0 X 242829 0 44914 Babatunde Ogunnaike 55.0 X 298934 0 51998 Nancy M Targett 55.0 X 246771 0 43199 George H Watson 55.0 X 305343 0 41321 Bruce Weber 55.0 X 249933 0 20225 Margaret Andersen 55.0 X 281642 0 48771 Mark Barteau 55.0 X 328359 0 54593 Bernard Muir 55.0 X 354429 0 45372 Mark Stalnecker 55.0 X 312989 0 34089 Jack Baroudi 55.0 X 362086 0 36437 L Leon Campbell 55.0 X 401408 0 29396 Kurt C Keeler 55.0 X 370093 0 89581 donald lewis sparks 55.0 X 358927 0 46152 cort j willmott 55.0 X 378479 0 36862 Michael Chajes 55.0 X 272746 0 51350 Conrado Gempesaw II 55.0 X 359982 0 24526 David Roselle X 892000 0 9944 Michael Gamel-McCormick 55.0 X 129984 0 29065 Robert Specter 55.0 X 116458 0 24094 10655241 0 1385304 847 true true false WHITING-TURNER CONTRACTING COMPANY 131 Continental Drive suite 404 NEWARK DE 19713 construction sitewrk 71279835 ARAMARK 1101 Market Street Aramark Tower PHILADELPHIA PA 19107 Dinning Services 27555325 BPG Associates LLC 322 A Street WILMINGTON DE 19801 General Contractor 12185335 Bancroft Construction 1300 Grant Avenue WILMINGTON DE 19806 General Contractor 5740595 diamond electric inc 3566 peachtree run DOVER DE 19901 general contractor 3280334 239 91329 6826676 116316304 56871664 6426963 180105973 TUITION AND FEES 900099 462142821 462142821 SALES & SERVICE OF EDUCATIONAL ACTIVITIES 900099 13918589 13323089 595500 SALES & SERVICE OF AUXILIARY ACTIVITIES 900004 110657190 106973001 3684189 SALES & SERVICES OF CONTRACTS AND OTHER EXCHANGE 900004 165692060 165692060 SALES & SERVICES OF OTHER CONTRACTS SOURCES 900004 17338073 17199211 138862 769748733 18652511 -1539252 20191763 0 247389 247389 1201226509 6091680 1193802313 7424196 6091680 13515876 481808 13034068 85456 91329 170385 -84929 -84929 0 0 INTRA UNIVERSITY REVENUE 900099 26913384 26913384 INCOME FROM AFFILIATE 721110 -513597 -324226 -189371 PLANT INVENTORY ADJUSTMENT 900099 -42124 -42124 1754836 1754836 28112499 1010298052 793632052 3171736 33388291 0 110209393 110209393 0 0 8633191 4096298 4175415 361478 465658 465658 379068407 339748930 34106418 5213059 36163384 31303278 4284303 575803 80569041 69352336 9898535 1318170 23176877 20013919 2789782 373176 0 2242417 2242417 331130 331130 263561 263561 0 3259134 3259134 61327238 58661265 2041468 624505 1602272 1273656 306116 22500 40018505 34415496 4560818 1042191 24133537 9957500 14144211 31826 151516 110963 40553 58369587 57606473 719850 43264 23348536 22437335 689564 221637 0 2936185 2272147 610764 53274 16552280 16531033 21247 0 53799659 46666571 7133088 2926235 2162215 745725 18295 LOSS ON DISPOSALS 4638886 3531307 1107579 CHANGE IN ANNUITY & LIFE 63819 63819 ENDOWMENT & COMMISSIONS FEES 2294885 2294885 INCREASE STUDNT LOAN LIABILITY -10475 -10475 936534858 830815773 95819907 9899178 71392 56592 152589858 103697496 47163418 66091045 24700520 11449913 0 0 0 0 89925 0 934455 1150287 1279637 1615979 1975403426 779573451 1067858431 1195829975 958364972 823666100 468829854 556805790 14719339 14123050 2493720 3046421 0 0 2739095521 2777532648 316159015 416093044 14903164 14994747 8077848 7218224 360478487 350742364 0 0 0 0 10568460 9808373 0 0 25926260 26785405 736113234 825642157 X 1117092933 1086775479 566293686 533670785 319595668 331444227 2002982287 1951890491 2739095521 2777532648 X 73763194 -124854990 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false true false true false false true 223695 false true 39866 263561 false SCHEDULE C, PART II-B, LINES 1B, 1D, & 1G A portion of the University's Director of State Governmental Relations (25%), the government relations assistant (25%) and THE UNIVERSITY'S DIRECTOR OF Federal Governmental Relations (38%) are associated with lobbying activities. Other Activities SCHEDULE C, PART II-B, LINE 1i THE UNIVERSITY OF DELAWARE IS A MEMBER OF VARIOUS HIGHER EDUCATION TRADE ASSOCIATIONS, IN WHICH A PORTION OF ITS MEMBERSHIP DUES ARE ASSOCIATED WITH LOBBYING ACTIVITIES. 1 1600 32741 true true 173800 8871575 X X X X false true 833853 117086976 117930317 -9488 false 1077637848 12871062 -6664194 5743019 38859512 9581000 1029661185 927530379 4906552 198284273 5378147 38524209 9181000 1077637848 859958677 6195841 115847859 5556918 40682080 8233000 927530379 1131736776 6463696 -215928929 6902533 47256333 8154000 859958677 0.27778 0.72222 false false 95284664 95284664 1223193425 474184265 749009160 15235212 4131567 11103645 429077877 301257619 127820258 212612248 212612248 1195829975 LIMITED PARTNERSHIPS 492890898 F FUNDS HELD IN TRUST BY OTHERS 58209201 F MORTGAGES 4353579 F REAL ESTATE 850000 F INSURANCE 502112 F 556805790 0 STUDENT DEPOSITS 1111201 ASSET RETIREMENT OBLIGATION 20889367 ANNUITY & LIFE INCOME FUNDS PA 4784837 26785405 1010298052 936534858 73763194 -65379087 -59475903 -124854990 -51091796 748882832 -65379087 -61824132 -127203219 876086051 134212001 134212001 1010298052 799974628 799974628 136560230 136560230 936534858 PART III, LINE 4 The University Museums seeks to enhance the educational and scholarly mission of the University of Delaware through the exhibition, online presentation, study, preservation and growth of its unique collections in 20th and 21st century American art (with particular strengths in the Brandywine School, African American art, and photography), minerals and pre-Columbian ceramics. The University Museums enrich cultural life beyond the campus through presentation of the work of recognized artists, and through outreach programs to selected audiences, including K-12 students, educators and historically black colleges and universities. The University Museums achieve this through public exhibitions open free of charge to the University community and the general public; through making collections accessible to individual students, classes, and scholars; and through offering public programs on facets of the collection free of charge to the University community and the general public. PART IV CHANGE IN PART IV ESCROW & CUSTODIAL ARRANGEMENTS AGENCY ACCOUNTS $ 167,057 EXTERNAL FINANCIAL AID (1,041,263) STUDENT GROUPS 30,865 ---------- (843,341) PART IV, LINE 1B The University is regularly requested to act as fiscal agent for funds that belong to a related third party. Normally a current or expected mutual benefit to both the third party and the University beyond just the fiscal agent relationship prompts such a request. Such requests may range from large organizations seeking an on-going relationship with the University to one-time requests for a depository for funds for a departmental retirement event. With some organizations, the University is requested to provide payroll services to permanent employees of the organization, or casual or student wages. When this fiscal agency request is granted, a University (agency) account is set up in the University accounting system. Agency accounts with deposits on hand from third party organizations are liabilities of the University while such accounts in deficit constitute receivables due to the University. PART V, LINE 4 The University's Endowment Fund's purpose is to provide in perpetuity financial support of the University's educational goals. The intended uses of the endowment funds is to provide educational and general support such as scholarships, prizes and awards, facilities and educational program support, and general operational support. PART X, Line 2 The University has been recognized by the Internal Revenue Service (IRS) as exempt from federal income tax under section 501(C)((3) Of the U.S. Internal revenue Code, except for taxes on income from activities unrelated to its exempt purpose. Accordingly, no provision For income taxes has been made in the accompanying consolidated financial statements. U.S. GAAP requireS management to evaluate tax Positions taken by the University and recognize a tax liability (or asset) if the University has taken an uncertain tax position that more Likely than not would not be sustained upon examination by the IRS. Management has analyzed the tax positions taken by the University, And has concluded that as of June 30, 2012 there are no uncertain positions taken or expected to be taken that would require recognition of a liability (or asset) Or disclosure in the consolidated financial statements. The University is subject to routine audits by taxing jurisdictions; however, there are Currently no audits for any tax periods in progress. PART XI, LINE 8 Change in the unrecognized net loss of the accumulated benefit of the post retirement benefit obligation: $(59,475,903) PART XII, LINE 2D Items Included on Line 1 but not on Form 990, Part VIII DEcrease in postretirement obligation: $ (59,475,903) Reclassification of Expense: $ (2,348,229) ------------ Total for Line 2d $ (61,824,132) Part XII, Line 4b Items inclued on Form 990, Part VIII but not on Line 1 Intra- University Revenue: $ 26,913,384 Tuition Scholarships: $107,298,617 ------------ Total for Line 2d $134,212,001 PART XIII, LINE 4B Items inclued on Form 990, Part IX but not on Line 1 Reclassification of Expense: $ 2,348,229 Intra-University Revenue: $ 26,913,384 Tuition Scholarships: $107,298,617 ----------- Total Part XIII, Line 4B 136,560,230 true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 THE UNIVERSITY OF DELAWARE IS COMMITTED TO ASSURING EQUAL OPPORTUNITY FOR ALL PERSONS AND DOES NOT DISCRIMINATE ON THE BASIS OF RACE, COLOR, GENDER, RELIGION, ANCESTRY, NATIONAL ORIGIN, SEXUAL ORIENTATION, VETERAN STATUS, AGE, OR DISABILITY IN ITS EDUCATIONAL PROGRAMS, ACTIVITIES, ADMISSIONS, OR EMPLOYMENT PRACTICES. THIS STATEMENT IS INCLUDED ON A VARIETY OF UNIVERSITY FORMS AND PUBLICATIONS. A WEBSITE REGARDING THE UNIVERSITY'S COMMITMENT TO DIVERSITY CAN BE FOUND AT: WWW.UDEL.EDU/DIVERSITY SCHEDULE E, LINE 6 THE UNIVERSITY OF DELAWARE PARTICIPATES IN THE FOLLOWING FEDERAL Title IV STUDENT FINANCIAL AID PROGRAMS: FEDERAL PELL, FSEOG, FEDERAL WORK STUDY, FEDERAL PERKINS LOAN, FEDERAL STAFFORD LOAN PROGRAMS and teach grant. true Europe (Including Iceland and Greenland) 1 2 Program Services ACADEMIC SUPPORT 241229 Middle East and North Africa 2 Program Services Off Campus Training 634514 Europe (Including Iceland and Greenland) Investments 6832632 Central America and the Caribbean Investments 15476599 1 4 1 4 23184974 23184974 true false true true true false SCHEDULE F, PART I, LINE 2 In April 2011, the University initiated an art preservation grant in the Middle East/ North Africa region. This program, along with the program in the European region, are monitored by the University by retaining the approvals and payments of all expenditures along with supporting documentation, at the University's main campus in Newark, Delaware. Health Sci Gala 40950 13790 27160 27455 85702 Lacros Golf Out 37170 20950 16220 3885 7818 1647 353 5 98665 56589 42076 638 13035 13396 12928 275 3253 176785 91329 85456 638 16920 21214 42030 275 89308 170385 -84929 true UNIVERSITY OF DELAWARE SCHOLARSHIPS FOR STUDENTS 5516 30018101 FAIR VALUE SCHOLARSHIPS DELAWARE NEED BASED GRANTS 1749 5014100 FAIR VALUE FINANCIAL AID ATHLETIC SCHOLARSHIPS 1086 9355455 FAIR VALUE SCHOLARSHIPS UNIVERSITY ENDOWMENT SCHOLARSHIPS 1735 3856710 FAIR VALUE SCHOLARSHIPS DELAWARE MERIT SCHOLARSHIPS 330 1974400 FAIR VALUE MERIT SCHOLARSHIPS Graduate Student Scholarships 6605 53880308 FAIR VALUE SCHOLARSHIPS Graduate Student Fellowships 488 2232624 FAIR VALUE FELLOWSHIPS University Gift Scholarships 186 2014004 FAIR VALUE SCHOLARSHIPS Other Scholarships and Grants 937 1863690 FAIR VALUE FINANCIAL AID SCHEDULE I, PART 1, LINE 2 MONITORING THE USE OF GRANT FUNDS The University's oversight and controls over grant funds is facilitated by processes and controls inherent in our University's ERP system. Disbursement of funds are controlled by donor and institutional criteria that is monitored by both the system, and by collaboration between various departments of the University. A monthly review of funding is produced to monitor spending and reports are produced by development to provide additional oversight of scholarship recipients when providing reports to donors on the status of their gifts. X X X true true X X X X false true false true false false false true false Patrick T Harker 645028 0 50592 0 51887 0 26950 0 56176 0 830633 0 Thomas Mark Apple 382256 0 10005 0 1313 0 26950 0 28112 0 448636 0 Nancy Brickhouse 195060 0 0 21563 11098 227721 Michael Chajes 272746 0 0 0 0 0 30622 0 20728 0 324096 0 Jennifer W Davis 263430 0 5904 0 16500 0 26950 0 15331 0 328115 0 Scott R Douglass 386165 0 12206 0 25065 0 26950 0 14863 0 465249 0 Conrado Gempesaw II 130676 0 0 0 229306 0 10123 0 14403 0 384508 0 Michael Gilbert 215801 0 4500 0 22000 0 25121 0 14551 0 281973 0 Pierre Hayward 259800 0 5150 0 9036 0 28325 0 16449 0 318760 0 Carl W Jacobson 234131 0 4659 0 7200 0 26201 0 19156 0 291347 0 Kathleen Sharon Matt 279524 0 0 0 0 0 26950 0 20681 0 327155 0 Robin W Morgan 242829 0 0 0 0 0 26594 0 18320 0 287743 0 Babatunde Ogunnaike 298934 0 0 0 0 0 26950 0 25048 0 350932 0 Nancy M Targett 246771 0 0 0 0 0 26844 0 16355 0 289970 0 Monica Marie Taylor 276482 0 31641 0 18748 0 26950 0 7439 0 361260 0 George H Watson 305343 0 0 0 0 0 33319 0 8002 0 346664 0 Bruce Weber 149778 0 100000 0 155 0 14340 0 5885 0 270158 0 Margaret Andersen 281642 0 0 0 0 0 31199 0 17572 0 330413 0 Mark Barteau 328359 0 0 0 0 0 35969 0 18624 0 382952 0 David Brond 224022 0 5109 0 22000 0 26950 0 18642 0 296723 0 Bernard Muir 321330 0 25000 0 8099 0 26950 0 18422 0 399801 0 David Singleton 196226 0 4280 0 22000 0 24360 0 16516 0 263382 0 Lawrence White 251741 0 5802 0 22000 0 26950 0 4713 0 311206 0 Patricia Ann Plummer Wilson 218459 0 4732 0 1395 0 24024 0 14494 0 263104 0 Jack Baroudi 361586 0 0 0 500 0 24625 0 11812 0 398523 0 L Leon Campbell 112708 0 0 0 288700 0 15068 0 14328 0 430804 0 Kurt C Keeler 297717 0 31263 0 41113 0 26950 0 62631 0 459674 0 donald lewis sparks 358927 0 0 0 0 0 37771 0 8381 0 405079 0 cort j willmott 200179 0 0 0 178300 0 21418 0 15444 0 415341 0 David Roselle 0 0 892000 0 0 0 0 0 9944 0 901944 0 Mark Stalnecker 240871 0 50118 0 22000 0 26950 0 7139 0 347078 0 Michael Gamel-McCormick 109184 0 0 0 20800 0 12049 0 17016 0 159049 0 Robert Specter 110423 0 0 0 6035 0 12421 0 11673 0 140552 0 PART I, LINE 1A Housing Allowance - The University's President is required to live in an on-campus residence. The Arrangement meets the IRC exclusion from gross income and is therefore excluded from compensation reported on the President's Form W-2. Health and Social Club Dues - Certain current officers were provided benefits to health and social clubs totaling $25,843. It is the University's policy to treat the above items as taxable compensation and report the applicable amounts on the officer's Form W-2. Personal Services - One University officer received personal services in the form of housekeeping services in the amount of $4,629. It is the University's policy to treat such personal services as taxable compensation and to report the applicable amounts on the officer's Form W-2. PART I, LINE 4B David P. Roselle, the University's former president, received $892,000 in deferred compensation during the current fiscal year. PART I, LINE 5A The University's Chief Investment Officer, a key employee, received a bonus payment of $50,118 which is partially based upon the performance of the University's investment portfolio. This type of compensation is subject to the University's executive compenstion process which ensures that the amount of total compensation is fair and reasonable. Part I, Line 7 Certain University officers received bonus payments totaling $200,843, which are based upon achieving documented goals. Additionally, one key employee received a sign-on incentive payment of $100,000. This type of compensation is pursuant to the University's executive compenstion process which ensures that the amount of total compensation is fair and reasonable. UNIVERSITY OF DELAWARE 516000297 91425MAY3 2004-04-08 53457434 SEE SCHEDULE O false false false UNIVERSITY OF DELAWARE 516000297 91425MAZO 2005-07-14 49945000 SEE SCHEDULE O false false false UNIVERSITY OF DELAWARE 516000297 91425MBD8 2009-03-17 71310000 SEE SCHEDULE O false false false UNIVERSITY OF DELAWARE 516000297 91425MBW6 2009-12-17 70107432 SEE SCHEDULE O false false false 0 0 54590166 0 0 8536682 366674 0 0 44554078 0 0 2005 true false true true 0 0 51410087 0 0 12855147 377595 0 0 36752258 0 0 2006 false true true true 0 0 71310000 0 0 70785000 435000 0 0 0 0 0 2009 true false true true 0 0 70107432 0 0 69614792 492640 0 0 0 0 0 2010 true false true true false false false false 0 true false false false false 0 true false false false false 0 true false false false false 0 true false true true MORGAN STANLEY 30.6 false false false 0 false true false true true MORGAN STANLEY 30.3 false false false 0 false true false true true MORGAN STANLEY 28.6 false false false 0 false true false false false 0 false 0 false true X 2000 Scholarships 11322 TUITION PATRICK HARKER UNIVERSITY PRESIDENT 2500681 PEPCO UTILITY PAYMENTS false MICHAEL GILBERT VP, STUDENT LIFE 61431 B. ROCHE PAYMENTS false JAMES BOREL university trustee 1940954 DUPONT Co RESEARCH GRANTS false JOSEPH BENNETT FATHER OF GRACE BENNETT 70734 EMPLOYMENT false LYNN JACOBSON SPOUSE OF CARL JACOBSON 73213 EMPLOYMENT false MICHAEL MOORE SPOUSE OF KATHLEEN MATT 154946 EMPLOYMENT false TIM TARGETT SPOUSE OF NANCY TARGETT 161737 EMPLOYMENT false LINE 1 PATRICK HARKER DR. HARKER, PRESIDENT OF THE UNIVERSITY, IS A DIRECTOR ON THE BOARD OF DIRECTORS OF PEPCO HOLDINGS, INC. PEPCO HOLDINGS, INC OWNS DELMARVA POWER AND LIGHT, INC. AS WELL AS PEPCO ENERGY SERVICES, INC., WHICH PROVIDES ELECTRIC UTILITY SERVICES TO THE UNIVERSITY OF DELAWARE. THESE ELECTRIC UTLITY SERVICES ARE PROVIDED TO THE UNIVERSITY OF DELAWARE ON AN ARM'S LENGTH BASIS. THE SERVICES during fiscal 2012 WERE IN THE AMOUNT OF $2,500,681. LINE 2 MICHAEL GILBERT DURING FISCAL 2012, B. ROCHE, THE SPOUSE OF MICHAEL GILBERT, VP OF STUDENT LIFE, RECIEVED PAYMENTS TOTALING $61,431 FROM THE UNIVERSITY FOR CONSULTING SERVICES PERFORMED ON AN INDEPENDENT CONTRACTOR BASIS. Line 3 James Borel James Borel, a University Trustee, is an officer of the Dupont Company. The University received $1,940,954 in grant payments for sponsored research from the DuPont Company during fiscal 2012. X 5 173800 Opinions of Experts X 106858 Opinions of Experts X 2 5859000 Opinions of Experts X 1 210000 actual sale data X 1 2000 Opinions of Experts X 2 19350 Opinions of Experts X LAB EQUIPMENT 6 30606 Cost/Selling Price X HISTORICAL COSTUMES 10 3851 Cost/Selling Price X FUNDRAISER ITEMS 79 21498 Cost/Selling Price 4 false true false Business Relationships Part VI, Section A, Line 2 One trustee, who is a financial advisor, has a business relationship with three other trustees. MEMBERS WHO MAY ELECT ONE OR MORE MEMBERS OF THE GOVERNING BODY Part VI, Section A, Line 7a Eight of the University's trustees shall be appointed by the Governor, by and with the consent of a majority of the members elected to the Senate. FORM 990 REVIEW Part VI, Section B, Line 11B The University's Form 990 is prepared by the University's Finance Office and signed by the Executive Vice President and University Treasurer. The Form 990 is reviewed by additional members of University management, including the Vice President and General Counsel. It is also reviewed by the University's independent tax advisors who sign the return as "Paid Preparers." The Audit Visiting Committee of the Board of Trustees reviews and discusses the full Form 990 at its spring meeting (held in April 2013). Additionally, the full Form 990 is provided to the full Board of Trustees prior to the filing of the Form 990 with the IRS. CONFLICT OF INTEREST Part VI, Section B, Line 12c The Board of Trustees, Officers and key employees of the University, by virtue of their offices, have a fiduciary relationship with the University which requires that they act in good faith and with fidelity to the University's best interests. The University has written conflict of interest policies which are intended to permit the University and its Trustees, Officers and other key employees to identify, evaluate and address any conflict of interest that might call into question this fiduciary duty to the University. The conflict of interest policy covering Trustees is documented in the Bylaws of the Board of Trustees of the University, Section 1.4. The conflict of interest policies covering Officers and other key employees are documented in the following University policies: 4-41, Professional and Salaried Staff Code of Ethics and 6-11, Faculty and Professional Staff Involvement in Commercial Enterprises that have Relationships with the University of Delaware. Each Trustee, Officer and key employee is required to report any conflicts of interest to the University as soon as practical after they become aware of such a conflict. Each Trustee, Officer and key employee shall also annually complete a Conflict of Interest Questionnaire. The University monitors compliance with its conflict of interest policies by review of the annual conflict of interest questionnaires by the Office of the Vice President for Finance and Administration. If conflicts of interest exist for officers and key employees, the President (or his designee) determines the corrective measure, if any, to be taken to resolve the conflict, or will impose appropriate restrictions, if any on the person with the conflict. For conflicts of interest involving the President or Trustees, the Audit Visiting Committee of the Board of Trustees will be notified of the conflict and will recommend to the Executive Committee of the Board of Trustees the corrective measures, if any, to be taken to resolve the conflict or appropriate restrictions, if any to be imposed on the person with the conflict. The Executive Committee of the Board of Trustees, excluding such conflicted person, has the final approval of any recommended corrective measures or imposed restrictions. Such restrictions require excluding conflicted persons from discussion and approval of transactions benefitting them, directly or indirectly. Officer and Key Employees Compensation Process Part VI, Section B, Line 15 A & B The compensation of all Officers of the University is reviewed and approved annually by the Compensation Committee of the Board of Trustees, and is subsequently REVIEWED and approved by the Executive Committee of the Board of Trustees. Such process includes the use of benchmark compensation data and 3rd party experts. The Officers' compensation process is contemporaneously documented by the Compensation Committee of the Board of Trustees. The compensation of key employees is set by their respective supervising Officer within the constraints of the University's operating budget, which is reviewed and approved by the Finance Committee of the Board of Trustees, and subsequently by the full Board of Trustees. The Key Employees' compensation process is contemporaneously documented by the University. JOINT VENTURE POLICY Part VI, Section B, Line 16A AND 16B ALTHOUGH THE UNIVERSITY DOES NOT HAVE AN APPROVED JOINT VENTURE POLICY, IT DOES HAVE A DRAFT POLICY AND DOES REVIEW ITS PARTICIPATION IN A JOINT VENTURE AS IT RELATES TO THE FEDERAL TAX LAWS, AND IT TAKES APPROPRIATE STEPS TO SAFEGUARD THE UNIVERSITY'S EXEMPT STATUS. Disclosure of Governing Documents Part VI, Section C, Line 19 The University's governing documents, conflict of interest policies and audited financial statements are available as public information on the University's website, and in hardcopy upon request. In addition, the University's Form 990, Form 990-T and IRS Determination Letter are made available for public review upon request. OTHER CHANGES IN NET ASSETS OF FUND BALANCE PART XI, LINE 5 NET UNREALIZED Loss ON INVESTMENTS $65,379,087 Decrease in postretirement obligation 59,475,903 ------------- TOTAL 124,854,990 Schedule K, Part I, Line A, COLUMN F In April 2004, the University issued $12,070,000 of Series 2004A Revenue bonds. Approximately $8,041,000 of these Series 2004A bonds were used to retire the Series 1993 Revenue notes. The remaining portion were used to construct a parking garage, to demolish existing University dormatories, to construct three new dormatory buildings, and for other capital improvements. In April 2004, the University issued $40,835,000 of Series 2004B Variable Rate Demand Revenue Bonds. The bonds were used to construct a parking garage, to demolish existing University dormatories, to construct three new dormatory buildings, and for other capital improvements. Schedule K, Part I, Line B, COLUMN F In July 2005, the University issued $49,945,000 of Series 2005 Variable Rate Demand Revenue Bonds. $37,880,000 of the Series 2005 Bonds were used to complete the construction of three new dormitory buildings, the demolition of some existing University dormitories, and other capital improvements started with proceeds of the Series 2004B Revenue Bonds. Also, $12,065,000 was used to Advance Refund a portion of the Series 1997 Bonds. SCHEDULE K, PART I, LINE C, COLUMN F In March 2009, the University issued $71,310,000 of Series 2009A Variable Rate Revenue Bonds. These bonds were issued for the purpose of refinancing the taxable bank demand note as follows: In July 2008, the University obtained a $73,600,000 30-day bank demand note at a variable interest rate based on one-month LIBOR. The note was used to redeem the Series 2007 Series Auction rate Revenue Bonds. The original series 2007 bonds were used to pay a portion of the costs of renovation, construction, and equipping of certain university project facilities. SCHEDULE K, PART I, LINE D, COLUMN F In December of 2009, the University issued $64,000,000 of Series 2009B Revenue Bonds in fixed rate mode with the sole purpose of refunding the Series 1998, 2001A, and 2001B Variable Rate Demand Bonds and terminating related interest rate exchange agreements. SCHEDULE K, PART I (CONTINUED), LINE A, COLUMN F In November 2010, the University issued $119,580,000 of Series 2010A Revenue Bonds in fixed rate mode with the purpose of (1) providing funds for the construction, addition to and renovation, as applicable, to the following project facilities: (i) basketball and volleyball facility addition to the Bob Carpenter Sports/Convocation Center, (ii) construction of the University's bookstore, (iii) renovations to Carpenter Sports Building, (iv) renovations to the Bob Carpenter Sports/Convocation Center, (v) construction/renovations to east campus utility plant, (vi) the construction of housing for approximately 800 dormitory beds, (vii) recreation upgrades to Frazier Field and (2) funding the costs of issuance of the 2010A Bonds. SCHEDULE K, PART II, COLUMN A PROCEEDS - BOND ISSUE 2004A/B LINE 3 - INCLUDES INTEREST EARNINGS $1,132,732 LINE 6 - NET OF DEBT SERVICE RESERVE FUND AND THE DEBT SERVICE FUND $2,697,958 SCHEDULE K, PART II, COLUMN B PROCEEDS - BOND ISSUE 2005 LINE 3 - INCLUDES INTEREST EARNINGS $1,465,087 LINE 7 - INCLUDES CREDIT ENHANCEMENT FEES $30,000 SCHEDULE K, PART II, COLUMN C PROCEEDS - BOND ISSUE 2009A LINE 6 - NO ESCROW, LOAN PAYOFF ON MARCH 17, 2009 $70,875,000 Blue Hen Hotel LLC Hullihen Hall Suite 220 Newark DE 19716 510411499 HOTEL DE 4995915 16798112 UDEL 1743 HOLDINGS LLC HULLIHEN HALL SUITE 220 NEWARK DE 19716 271332816 RESEARCH DE 7065718 35644982 UDEL Alumni Association of the Univ of DE 24 E Main Street Newark DE 19716 516016065 SCHOLARSHIP DE 501(c)(3) TYPE III-FI NA false University of Delaware Research Fdn 220 Hullihen Hall Newark DE 19716 516017306 Research DE 501(c)(3) Type III-O NA false University of De Library Associates Inc University of Delaware Library Newark DE 19717 516017971 DONATIONS DE 501(c)(3) TYPE III-FI na false Bartol Research Fdn co Franklin Instit 222 N 20th St Philadelphia PA 19103 232482657 Research PA 501(c)(3) TYPE 1 FRANKLIN INS false Karl W Boer Solar Energy Medal of Merit c/o Ralf R Boer Trustee Milwaukee WI 53202 396596448 Award DE 501(c)(3) Type I NA false UNIDEL FOUNDATION INC PO BOX 1146 WILMINGTON DE 19899 516015046 GRANTS DE 501(c)(3) TYPE III NA false Arlington Fnd 1 LLC 100 Summer Street BOSTON MA 02110 Boston MA 02110 470900223 Investments DE NA related 3451676 167849439 false -21383 true 0.99000 FIRST STATE MARINE WIND LLC 2050 CABOT Blvd W LANGHORNE PA 19047 383809186 PWR GENERAT DE NA unrelated -220360 3086634 false 0 true 0.69000 83 east main street llc 322 A street newark DE 19716 inactive DE na related 0 0 false 0 true 0.61000 ev2g llc 211 carnegie ctr princeton NJ 08540 453237680 energy research DE na related 0 0 false 0 false 0.33000 us offshore wind innov and Res Ctr llc 124 Hullihen Hall Newark DE 19716 inactive DE blue hen wind related 0 0 false 0 true 0.50000 BLUE HEN WIND INC 124 C HULLIHEN NEWARK DE 19716 352377140 INVESTMENTS DE UDel C CORP 16529 3204202 1.00000 University of DE Student Housing Fnd 220 Hullihen Hall newark DE 19716 311779506 Inactive DE na c corp 0 0 0.00000 true true true false false false false false false false false false true true false false true false Arlington Fund 1 LLC-Newark Series A 5000000 CASH DIST. University of DE Library Associates C 77000 CASH DIST. University of DE Research Foundation C 415000 CASH DIST. Unidel Foundation Inc C 6270000 CASH DIST. BLUE HEN WIND INC B 348144 CASH CONTRIB. FIRST STATE MARINE WIND LLC B 83753 CASH CONTRIB. University of Delaware Alumini Assoc Inc c 64676 cash gift First State Marine Wind LLC c 199813 Cash Grant First State Marine Wind LLC Q 344671 Cash Purchase SEE SCHEDULE R PART VII SUPPLEMENTAL INFO M SEE SCHEDULE R PART VII SUPPLEMENTAL INFO N Schedule R, Part V, Line 2 (m) & (n) The University provides, without compensation, bookkeeping and other administrative services to the University of Delaware Alumni Association, University of Delaware research Foundation, University of Delaware Library Associates, Inc., Blue Hen Wind, Inc. , and First State Marine Wind, LLC. University personnel receive no compensation from these organizations.