2012-05-15T08:59:11-04:00 2011-06-30 KPMG LLP 345 Park Avenue New York NY 101540102 990 2010-07-01 221487164 DREW UNIVERSITY DREW 9734083501 36 MADISON AVENUE MADISON NJ 07940 HOWARD BUXBAUM 9734083501 2012-05-14 true KPMG LLP 2127589700 2010 2016-02-24 21:20:13Z ROBERT WEISBUCH PRESIDENT 36 MADISON AVENUE MADISON NJ 07940 184760688 false X WWW.DREW.EDU X 1868 NJ THE UNIVERSITY OFFERS GRADUATE AND UNDERGRADUATE STUDIES AND IS COMPRISED OF THE COLLEGE OF LIBERAL ARTS, THE THEOLOGICAL SCHOOL, AND THE CASPERSEN SCHOOL OF GRADUATE STUDIES. 43 39 1984 39 205461 0 14221033 15190553 92526029 97846363 33060600 17079854 1486022 1561620 141293684 131678390 31575918 34425015 0 0 45575006 49789597 0 0 3787434 38358860 40002650 115509784 124217262 25783900 7461128 350472000 386536771 106769000 111671433 243703000 274865338 X DREW UNIVERSITY'S HIGHEST PRIORITY IS EXCELLENCE IN LIBERAL EDUCATION IN A CHANGING WORLD ENVIRONMENT. THIS PRIORITY GUIDES THE PLANNING, IMPLEMENTATION, AND EVALUATION OF THE PROGRAMS AND ACTIVITIES OF THE UNIVERSITY. FOR MORE INFORMATION, SEE SCHEDULE O. false false 56647378 28477726 69532876 THE DREW UNIVERSITY COLLEGE OF LIBERAL ARTS AFFIRMS A COMMITMENT TO ITS FOUNDING VISION: TO OFFER ITS STUDENTS A LIBERAL ARTS EDUCATION OF THE HIGHEST QUALITY. THROUGH A RIGOROUS COURSE OF STUDY, THE COLLEGE CHALLENGES STUDENTS TO EXPLORE THE ARTS, NATURAL SCIENCES, SOCIAL SCIENCES, HUMANITIES, AND INTERDISCIPLINARY FIELDS IN DEPTH AND TO DEVELOP THEIR CAPACITIES FOR CRITICAL THOUGH, PROBLEM SOLVING, EFFECTIVE COMMUNICATION, CREATIVITY, SELF DISCIPLINE AND EMPATHY. AS THE COLLEGE PREPARES STUDENTS FOR ACADEMIC AND PROFESSIONAL ACHIEVEMENT, IT PROVIDES THEM WITH ESSENTIAL SKILLS FOR LIVING AND CONTINUING TO LEARN AND TO GROW IN AN INCREASINGLY DIVERSE AND COMPLEX WORLD. 9873628 3800132 5454033 DREW THEOLOGICAL SCHOOL - DREW THEOLOGICAL SCHOOL EMPOWERS LEADERSHIP FOR A GLOBAL CHRISTIANITY OF JUSTICE, ECUMENISM, AND THE INTEGRITY OF CREATION. ITS PASTORAL, SPIRITUAL, AND CONCEPTUAL DISCIPLINES GROW WITHIN AN INTIMATE LITURGICAL AND COMMUNAL CONTEXT, ONE THAT SUSTAINS MULTIPLE RELATIONS OF DIFFERENCE. THROUGH ITS PARTICULAR HISTORICAL COMMITMENTS TO AFRICAN, ASIAN, AFRICAN-AMERICAN, HISPANIC AND WOMEN'S MINISTRIES, THE THEOLOGICAL SCHOOL REMAINS FAITHFULLY ROOTED IN ITS METHODIST HERITAGE. FOR MORE INFORMATION, SEE SCHEDULE O. 4734587 2147157 4234626 THE CASPERSEN SCHOOL OF GRADUATE STUDIES - THE CASPERSEN SCHOOL OF GRADUATE STUDIES WAS FOUNDED ON THE PRINCIPLE OF THE IMPORTANCE OF INTERDISCIPLINARY STUDY IN THE HUMANITIES. THE GOAL OF THE SCHOOL'S FOUNDERS WAS TO FOSTER BROADLY EDUCATED PEOPLE WHO HAVE EXPERTISE IN A FIELD OF THOUGHT BUT WHO ARE ALSO FAMILIAR WITH AND ARTICULATE IN A RANGE OF HUMANISTIC STUDIES. FOR MORE INFORMATION, SEE SCHEDULE O. 33589239 18539237 104844832 true true false true false false false false true true true false false true true false true true false true false false false true false false false true true true false false false false false false false false true true true false false false false true true true true false true 387 0 true 1984 true true true true CJ false false false true true false false false false X 43 39 false false false false false false false true true false false true true true true true true true true false X HOWARD BUXBAUM 9734083501 36 MADISON AVENUE MADISON NJ 07940 X JOSEPH BENEDUCCI JR 1.0 X 0 0 0 ROBERT BURKE 1.0 X 0 0 0 MARILYN CALLANDER 1.0 X 0 0 0 JUDITH E CAMPBELL 1.0 X 0 0 0 FRANK J CARNABUCI III 1.0 X 0 0 0 WILLIAM E CLARK 1.0 X 0 0 0 C RORY CORRIGAN 1.0 X 0 0 0 JOHN H CRAWFORD III 1.0 X X 0 0 0 DEAN T CRIARES 1.0 X 0 0 0 HUGH A D'ANDRADE 1.0 X X 0 0 0 SUDARSHANA DEVADHAR 1.0 X 0 0 0 DEREK M DI RISIO 1.0 X 0 0 0 DONALD L DRAKEMAN 1.0 X 0 0 0 D STUART DUNNAN 1.0 X 0 0 0 LOUIS ECCLESTON 1.0 X 0 0 0 ROBERT EDGAR 1.0 X 0 0 0 JOHN A EHINGER 1.0 X 0 0 0 EMILIA A FABRICANT 1.0 X 0 0 0 MICHELE E FABRIZIO 1.0 X 0 0 0 GAYLE E FITZPATRICK 1.0 X 0 0 0 WILLIAM M FREEMAN 1.0 X X 0 0 0 FREDRICK FUEST 1.0 X 0 0 0 JORDAN M GLATT 1.0 X 0 0 0 GATES H HAWN 1.0 X 0 0 0 WILLIAM R HUFF 1.0 X 0 0 0 PEGGY A JOHNSON 1.0 X 0 0 0 WILLIAM T KNOX 1.0 X 0 0 0 WILLIAM W LANDIS III 1.0 X 0 0 0 HWAIN C LEE 1.0 X 0 0 0 KEVIN H MARINO 1.0 X 0 0 0 BETSY S MICHEL 1.0 X 0 0 0 EDWARD MOED 1.0 X 0 0 0 JEFFREY B NOSS 1.0 X 0 0 0 LAURA OVERDECK 1.0 X 0 0 0 JEREMIAH J PARK 1.0 X 0 0 0 JANE RAINIS 1.0 X 0 0 0 SUZANNE MERTZ SPERO 1.0 X 0 0 0 GARY S STEIN 1.0 X 0 0 0 MARVIN J SUOMI 1.0 X 0 0 0 STEVEN A TASHER 1.0 X 0 0 0 JENNIFER VELEZ 1.0 X 0 0 0 PAULINE WARDELL-SANKOH 1.0 X 0 0 0 ROBERT WEISBUCH 35.0 X X 396319 0 105536 PAMELA GUNTER-SMITH 35.0 X 187578 0 74422 HOWARD BUXBAUM 35.0 X 197866 0 34928 MARGARET HOWARD 35.0 X 222958 0 20643 RONALD ROSS 35.0 X 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CONTRACTOR-CONSULTAN 892320 37 111665 1809242 13269646 1023723 15190553 TUITION & FEES 900099 79221015 79221015 AUXILIARY INCOME 531110 18593198 18507607 85591 SUMMER APPLICATION & LAB FEES 900099 32150 32150 97846363 13177802 119870 13057932 0 0 54948965 1917230 52820056 144087 2128909 1773143 3902052 3902052 80292 111665 118155 -37863 -37863 0 0 VEHICLE REGISTRATION FEES 900099 176934 176934 SHAKESPEARE INCOME 900099 116020 116020 METHODIST REVENUE 900099 160792 160792 1145737 1145737 1599483 131678390 97760772 205461 18521604 0 34425015 34425015 0 0 2471087 921703 1195800 353584 118975 118975 36529632 28740920 6025638 1763074 2376608 1853989 392884 129735 5606791 4373852 926875 306064 2686504 2095739 444114 146651 0 171229 379 170850 246612 246612 93235 17459 66012 9764 0 0 986926 184809 698757 103360 0 1152937 510025 453980 188932 1832136 1692371 108780 30985 0 10341349 9094457 1246762 130 1323830 1099190 72079 152561 0 923248 556797 108920 257531 2882819 2882819 0 8134992 7669987 394885 70120 651469 22060 629409 FOOD EXPENSE 3040129 3038715 1414 SUPPLIES 987500 825317 94976 67207 LIBRARY MATERIALS 971429 971429 EQUIPMENT RENTAL & MAINTENANCE 739759 191671 533517 14571 OTHER 5523051 3676129 1653757 193165 124217262 104844832 15584996 3787434 1021000 1658486 6337000 6917000 7551000 9302000 2668000 1960000 4037000 3879000 345000 203000 1714000 1703000 254714062 106567000 146659000 148147062 95653000 109912000 83767000 101752000 720000 1103223 350472000 386536771 6065000 8282908 7217000 6578813 68397000 72188000 25090000 24621712 106769000 111671433 X 75957000 83459338 85301000 103653000 82445000 87753000 243703000 274865338 350472000 386536771 X 7461128 23701210 X false true true X true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false false false true 93235 93235 false OTHER LOBBYING ACTIVITIES SCHEDULE C PART II-B LINE 1I WINNING STRATEGIES WASHINGTON WORKS ON BEHALF OF DREW UNIVERSITY TO ADVOCATE AND ADVANCE FUNDING AND POLICY FIXES FROM THEIR INCEPTION TO CONCLUSION THROUGH THE LEGISLATIVE, APPROPRIATIONS AND REGULATORY PROCESSES. SPECIFICALLY, IT HAS A STRONG UNDERSTANDING OF WHAT STRATEGIES WORK BEST IN GAINING THE INTEREST AND SUPPORT OF MEMBERS OF CONGRESS, ESPECIALLY WITH REGARD TO WORKING EFFECTIVELY WITH MEMBERS OF THE NEW JERSEY DELEGATION ON BEHALF OF THE UNIVERSITY. IN ADDITION, THE UNIVERSITY IS A MEMBER OF AND PAYS ANNUAL DUES TO THE FOLLOWING CONSORTIUM GROUPS: THE ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES IN NEW JERSEY (AICUNJ) AND THE NATIONAL ASSOCIATION OF INDEPENDENT COLLEGES AND UNIVERSITIES (NAICU). THE UNIVERSITIES WORK TOGETHER WITH THESE GROUPS TO MAKE AN IMPACT ON COMMON IDEAS/GOALS, ESPECIALLY WITH GOVERNMENT. EACH YEAR, THE GROUPS LOBBY FOR AN INCREASE OR AT LEAST A STABILIZATION OF GOVERNMENT FUNDS FOR STUDENT AID AND OTHER ISSUES IN WHICH DREW UNIVERSITY IS VERY INTERESTED. THE UNIVERSITY'S GOAL IS TO SECURE AS MUCH FUNDING AS POSSIBLE TO ASSIST IN THE MISSION. 169483000 4353000 32741000 12649000 193928000 160633000 713000 21829000 13692000 169483000 221297000 1967000 -48518000 14113000 160633000 0.25200 0.35900 0.38900 false false 11117000 11117000 207954000 90974000 116980000 21645000 9469000 12176000 13998000 6124000 7874000 148147000 ALTERNATIVE INVESTMENTS 75103000 F PARTIES 15621000 F POOLED INCOME FUNDS 8034000 F BOND PROCEEDS HELD BY TRUSTEES 2994000 F 101752000 0 STUDENT SECURITY DEPOSITS 1783712 ANNUITY LIABILITY 1866000 ASSET RETIREMENT OBLIGATIONS 5401000 POSTRETIREMENT BENEFITS 11771000 FEDERAL STUDENT LOAN FUNDS 2228000 OBLIGATIONS UNDER CAPITAL LEAS 1572000 24621712 INTENDED USES OF ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE INTENDED USE OF DREW UNIVERSITY ENDOWMENT FUNDS IS PRINCIPALLY TO ACCOMPLISH THE FOLLOWING. ENDOWMENT FUNDS ARE TO BE HELD IN PERPETUITY AND TO PROVIDE FOR THE GENERATION OF INVESTMENT INCOME THROUGH STRATEGIC INVESTING AS APPROVED BY THE BOARD OF TRUSTEES INVESTMENT COMMITTEE. THIS INVESTMENT INCOME IS USED TO PROVIDE SUPPORT OF THE UNIVERSITY'S EDUCATION MISSION STATEMENT AS DESCRIBED ON PAGE TWO, PART III OF FORM 990, COMMENSURATE WITH THE DONOR AND BOARD SPECIFIC INSTRUCTIONS ON HOW THE FUNDS ARE TO BE USED. FIN 48 SCHEDULE D, PART X DREW UNIVERSITY AND IT WHOLLY OWNED SUBSIDIARY, UHP, ARE EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. CBCA IS EXEMPT UNDER THE NEW JERSEY NONPROFIT CORPORATION ACT, TITLE 15A OF THE NEW JERSEY STATUS ANNOTATED. ACCORDINGLY, NO PROVISION FOR INCOME TAXES HAS BEEN REFLECTED IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. true true true true true true true false false false false false false false false true false RACIAL NONDISCRIMINATORY POLICY FORM 990, SCHEDULE E, QUESTION 3 THE UNIVERSITY HAS PUBLICIZED ITS NON-DISCRIMINATORY POLICY THOUGH RECRUITING MATERIALS SENT TO STUDENTS. THE UNIVERSITY'S AFFIRMATIVE ACTION/EEO POLICY IS AS FOLLOWS: DREW UNIVERSITY IS COMMITTED TO SEEKING ACADEMIC EXCELLENCE WHILE STRIVING CONTINUOUSLY TO BE A WELCOMING, DIVERSE, AND SOCIALLY JUST CAMPUS. WE ASPIRE TO PROVIDE AN EDUCATION THAT IN CONTENT SCOPE AND PEDAGOGY EMBRACES DIFFERENCE AND PROMOTES RESPECT THAT EXTENDS BEYOND THE CLASSROOM TO ALL UNIVERSITY SPACES AND TO LOCAL AND GLOBAL COMMUNITIES. DIVERSITY ENCOMPASSES MULTIPLE DIMENSIONS, INCLUDING, BUT NOT LIMITED TO, RACE, CULTURE, NATIONALITY, ETHNICITY, GEOGRAPHIC ORIGIN, CLASS, SEXUAL ORIENTATION, GENDER, DISABILITIES, AGE AND RELIGION. OUR INTENT IS TO ACHIEVE A LEARNING ENVIRONMENT IN WHICH STUDENTS, FACULTY, AND STAFF UNDERSTAND THE CHALLENGES, ACCOMPLISHMENTS, AND PERSPECTIVES OF VARIOUS GROUPS OF PEOPLE, THUS GAINING A FULLER UNDERSTANDING OF THEMSELVES AS WELL AS HOW TO ENGAGE IN CONVERSATION SPANNING DIFFERENCES AND COMMONALITIES. ACHIEVING THIS VISION IS A FUNDAMENTAL COMMITMENT CRITICAL TO DREW UNIVERSITY'S MISSION AS AN INSTITUTION OF HIGHER LEARNING. Central America and the Caribbean 0 0 Investments 40240747 0 0 0 0 40240747 40240747 true false true true true true GOLF TOURNAMENT 116760 84560 32200 620 17658 47063 22168 4856 DINNER 62800 25275 37525 650 543 10104 254 5786 1 12397 1830 10567 500 2153 1721 4079 191957 111665 80292 620 18308 48106 34425 1975 14721 118155 -37863 true SCHOLARSHIP & FINANCIAL AID 2279 30274831 ENDOWED SCHOLARSHIPS 191 4144504 MICKEL SCHOLARSHIP 1 1000 GRAYBEAL SCHOLARSHIP 1 1000 OUTSTANDING SCHOLARSHIP 1 3680 MONITORING THE USE OF GRANTS SCHEDULE I, PART I, LINE 2 FOR THE PERIOD JULY 1, 2010 THROUGH JUNE 30, 2011, DREW UNIVERSITY GRANTED FUNDS TO STUDENTS IN THE FORM Of SCHOLARSHIPS, FELLOWSHIPS, STUDENT LOANS AS WELL AS OTHER FINANCIAL AID. FINANCIAL AID IS GRANTED TO STUDENTS BASED ON ELIGIBILITY GUIDELINES AS DEFINED BY THE FEDERAL DEPARTMENT OF EDUCATION AS WELL AS THE STATE OF NEW JERSEY. IF A STUDENT IS NOT ELIGIBLE TO RECEIVE FEDERAL OR STATE BASED FINANCIAL AID, THE AID WILL NOT BE APPLIED TO THE STUDENT'S ACCOUNT. IN ADDITION, DREW UNIVERSITY GRANTS FUNDS TO STUDENTS IN THE FORM OF INSTITUTIONAL AID BASED ON MERIT AND NEED CRITERIA. NUMBER OF SCHOLARSHIP RECIPIENTS SCHEDULE I, PART III, COLUMN (B) THE UNIVERSITY ESTIMATES LESS THAN FIVE STUDENTS ARE HONORED EACH YEAR THROUGH THE MICKEL AND GRAYBEAL SCHOLARSHIP PROGRAMS. X true true X X false false false false false false false false false ROBERT WEISBUCH 382319 0 0 0 14000 0 65667 0 46272 0 508258 0 0 0 PAMELA GUNTER-SMITH 187578 0 0 0 0 0 15260 0 59757 0 262595 0 0 0 HOWARD BUXBAUM 197866 0 0 0 0 0 14860 0 20657 0 233383 0 0 0 MARGARET HOWARD 208044 0 0 0 14914 0 16705 0 4560 0 244223 0 0 0 RONALD ROSS 145971 0 0 0 0 0 11984 0 12932 0 170887 0 0 0 JONATHAN LEVIN 151834 0 0 0 0 0 14850 0 72226 0 238910 0 0 0 ALYSSA MCCLOUD 206075 0 0 0 16640 0 15260 0 6248 0 244223 0 0 0 ANDREW SCRIMGEOUR 124467 0 0 0 0 0 10354 0 16301 0 151122 0 0 0 CHRISTOPHER BIEHN 198281 0 0 0 9550 0 15260 0 19789 0 242880 0 0 0 CHRISTOPHER VAN WYK 159317 0 0 0 0 0 13166 0 16316 0 188799 0 0 0 JOSEPH KELLY 157565 0 0 0 0 0 13166 0 22481 0 193212 0 0 0 SAAD IBRAHIM 146396 0 0 0 5727 0 0 0 8051 0 160174 0 0 0 ALAN CANDIOTTI 143949 0 0 0 0 0 11821 0 9811 0 165581 0 0 0 UNIVERSITY HOUSING AND AUTOMOBILE ALLOWANCES FORM 990, SCHEDULE J, PART I, QUESTION 1 HOUSING ALLOWANCE AS PART OF THE FOLLOWING EMPLOYEES CONDITION OF EMPLOYMENT, WHERE THE DUTIES AND RESPONSIBILITIES OF THESE EMPLOYEES REQUIRE THEIR SERVICES ON A TWENTY FOUR HOUR BASIS THROUGHOUT THE YEAR, THE UNIVERSITY PROVIDES CAMPUS HOUSING TO THEM TO ACCOMPLISH THEIR REQUIRED AND CONTINUOUS DUTIES AND RESPONSIBILITIES ON CAMPUS. THE FOLLOWING EMPLOYEES ARE PROVIDED CAMPUS HOUSING AS A CONDITION OF THEIR EMPLOYMENT AND THEREFORE NOT INCLUDED IN TAXABLE INCOME: *PAMELA GUNTER-SMITH *JONATHAN LEVIN THE FOLLOWING EMPLOYEES ARE PROVIDED CAMPUS HOUSING BUT IS NOT A CONDITION OF THEIR EMPLOYMENT THEREFORE IT IS INCLUDED IN TAXABLE INCOME: *ALYSSA MCCLOUD *CHRISTOPHER BIEHN *SAAD IBRAHIM AUTOMOBILE ALLOWANCE THE AUTOMOBILE ALLOWANCE FOR THE FOLLOWING EMPLOYEES IS PART OF THEIR COMPENSATION AGREEMENT AND IS REFLECTED IN AS PART OF TAXABLE INCOME AND INCLUDED AS TAXABLE INCOME ON THEIR FORM W-2, BOX 1,3 AND 5: *ROBERT WEISBUCH *MARGARET HOWARD *ALYSSA MCCLOUD NJ EDU FAC AUTH DREW 2003 SERIES C 221829511 64605LDZ8 2003-05-29 22872229 Capital Improvements true false false NJ EDU FAC AUTH DREW 2007 SERIES D 221829511 646065CW0 2007-04-12 30557236 Advance refunding and new money true false false NJ EDU FAC AUTH DREW 2008 SERIES B 221829511 646065CE0 2008-04-04 11353764 Current Refunding false false false NJ EDU FAC AUTH DREW 2008 SERIES I 221829511 2008-06-26 12000000 Capital Improvements false false false 3490000 2390000 23662620 497689 843950 0 660981 269853 71738 21180000 0 0 2006 false false true true 825000 1265750 32315842 0 1454477 0 789514 353000 0 27435648 4858329 683825 false true true true 600000 0 14298521 0 0 0 227730 85000 0 0 0 0 1998 true false true true 0 0 12000000 0 0 0 64085 0 0 11935915 0 0 2010 false false true true false false true false true 0.00000 0.00000 0.00000 true false false true false true 0.00000 0.00000 0.00000 true false false false false true 0.00000 0.00000 0.00000 false false true false true 0.00000 0.00000 0.00000 true false false false false false false true false false false false false false false true false false false false false false false false false false true false false false false false false SCHEDULE K, PART I, COLUMN (E) BOND ISSUE - 2008 SERIES I THIS ISSUE WAS REISSUED WITH A CHANGE IN INTEREST RATE ON JUNE 27, 2011 AT AN ISSUE PRICE OF 12,000,000 TO PROVIDE FOR CAPITAL IMPROVEMENTS -- THE 2008 I BONDS ARE STRUCTURED AS A BANK LOAN WITH A MAXIMUM AUTHORIZED AMOUNT AND A PERIOD DURING WHICH DREW CAN MAKE DRAWS FOR AUTHORIZED PURPOSES - DREW HAS WITHDRAWN AMOUNTS AS NEEDED AND NO MONEY HAS BEEN HELD AND INVESTED. SCHEDULE K, PART I, COLUMN (E) BOND ISSUE - 2006 SERIES A BOND ISSUE 2006A'S $215,447 ISSUE PRICE REPRESENTS DREW'S ALLOCABLE SHARE OF BONDS ISSUED TO SEVERAL EDUCATIONAL INSTITUTIONS. THIS REPRESENTS 0.0179 OF THE AGGREGATE REFUNDING BONDS ALLOCATED TO PRIVATE INSTITUTIONS AND 0.0139 OF THE TOTAL PROCEEDS ALLOCATED TO ALL COLLEGES AND UNIVERSITIES. HUFF ENEGERY FUND SEE SCH L, PART V 150000 INVESTMENT FEES false MELISSA FUEST SEE SCH L, PART V 60642 EMPLOYEE COMPENSATION false CINDY DRAKEMAN SEE SCH L, PART V 58333 EMPLOYEE COMPENSATION false INTERESTED PERSONS FORM 990, SCHEDULE L, PART IV WILLIAM HUFF THE UNIVERSITY IS A LIMITED PARTNER/INVESTOR IN THE HUFF ENERGY FUND, OF WHICH TRUSTTEE WILLIAM HUFF IS AN OPERATING OFFICER. THE UNIVERSITY HAS A 10 MILLION DOLLAR COMMITMENT TO INVEST IN THE FUND. THE UNIVERSITY PAYS A MANAGEMENT AND INCENTIVE FEES TO THE FUND FOR THE MANAGEMENT OF THE FUND. ALL TRANSACTIONS ARE CONDUCTED AT ARMS LENGTH, MEANING THEY ARE EXECUTED IN ACCORDANCE WITH THE INVESTMENT AGREEMENT. DUE DILIGENCE WAS CONDUCTED BY INDEPENDENT EXTERNAL INVESTMENT CONSULTANTS THAT ARE RETAINED BY THE UNIVERSITY. THE UNIVERSITY MEASURES INVESTMENT PERFORMANCE ON A QUARTERLY BASIS, CONDUCTS PORTFOLIO REVIEWS AND ON SITE VISITS ON AN ANNUAL BASIS AND REPORTS RESULTS TO THE INVESTMENT COMMITTEE. FREDERICK FUEST IS A UNIVERSITY TRUSTEE AND HIS DAUGTHER IS AN UNIVERSITY EMPLOYEE. DON DRAKEMAN IS A UNIVERSITY TRUSTEE AND HIS DAUGHTER WAS A UNIVERSITY EMPLOYEE IN FISCAL YEAR 2011. X 26 962943 FMV X LAB SUPPLIES 1 44850 FMV X VARIOUS 9 15930 FMV false true false GIFT ACCEPTANCE POLICY FORM 990, SCH M, PART I, LINE 31 DREW UNIVERSITY HAS A GIFT ACCEPTANCE POLICY IN PLACE. THE POLICY REQUIRES THE REVIEW OF ANY NON-STANDARD CONTRIBUTIONS. ORGANIZATION MISSION FORM 990, PART III, QUESTION 1 EXCELLENCE IN LIBERAL EDUCATION AT DREW REQUIRES SCHOLARLY, CREATIVE FACULTY WHO TEACH EFFECTIVELY AND INTELLECTUALLY PREPARED STUDENTS WHO WANT TO LEARN. THIS EXCELLENCE EMPHASIZES THE INTERRELATEDNESS OF LEARNING IN UNDERGRADUATE, GRADUATE AND THEOLOGICAL SCHOOLS AND PROMOTES INTELLECTUAL RIGOR AND RESPONSIBLE CITIZENSHIP, WHILE PREPARING INDIVIDUALS FOR SIGNIFICANT CONTRIBUTIONS TO SOCIETY. DREW UNIVERSITY ENDEAVORS TO CREATE A DISTINCTIVE ENVIRONMENT FOR LIBERAL EDUCATION. CHARACTERISTICS OF THIS ENVIRONMENT ARE AN ETHOS OF CURIOSITY AND ACHIEVEMENT WITHIN AN INTENTIONALLY INTIMATE COMMUNITY OF LEARNING WHICH EMPHASIZES CLOSE STUDENT-FACULTY RELATIONSHIPS AND COLLEGIALITY. THIS ETHOS INCLUDES RESPECT FOR INDIVIDUALITY AND APPRECIATION OF DIVERSITY. DREW UNIVERSITY PLACES SPECIAL ATTENTION ON THE ONGOING EVALUATION AND IMPROVEMENT OF TEACHING AND LEARNING, THE USES OF TECHNOLOGY, AND THE GLOBAL CONTEXT OF KNOWLEDGE. EXEMPT PURPOSE ACHIEVEMENTS FORM 990, PART III, QUESTION 4B DREW THEOLOGICAL SCHOOL EMPOWERS LEADERSHIP FOR A GLOBAL CHRISTIANITY OF JUSTICE, ECUMENISM, AND THE INTEGRITY OF CREATION. ITS PASTORAL, SPIRITUAL, AND CONCEPTUAL DISCIPLINES GROW WITHIN AN INTIMATE LITURGICAL AND COMMUNAL CONTEXT, ONE THAT SUSTAINS MULTIPLE RELATIONS OF DIFFERENCE. THROUGH ITS PARTICULAR HISTORICAL COMMITMENTS TO AFRICAN, ASIAN, AFRICAN-AMERICAN, HISPANIC AND WOMEN'S MINISTRIES, THE THEOLOGICAL SCHOOL REMAINS FAITHFULLY ROOTED IN ITS METHODIST HERITAGE. DREW NURTURES CHRISTIAN PRACTICES THROUGH VITAL PARTNERSHIP WITH LOCAL CHURCHES AND INTERNATIONAL NETWORKS OF EDUCATION. TRANS-DISCIPLINARY INTERPRETATION OF TEXT, TRADITION, AND EXPERIENCE ENERGIZES ITS SCHOLARLY RIGOR. DREW ENGENDERS THEOLOGIES RESPONSIBLE TO THE COMPLEX SOCIAL REALITIES OF AN INTERCONNECTED WORLD. INTO THAT WORLD DREW SENDS PASTORS, PREACHERS AND PROPHETS, DEACONS, ACTIVISTS, AND TEACHERS. EXEMPT PURPOSE ACHIEVEMENTS FORM 990, PART III, QUESTION 4C THE CASPERSEN SCHOOL OF GRADUATE STUDIES WAS FOUNDED ON THE PRINCIPLE OF THE IMPORTANCE OF INTERDISCIPLINARY STUDY IN THE HUMANITIES. THE GOAL OF THE SCHOOL'S FOUNDERS WAS TO FOSTER BROADLY EDUCATED PEOPLE WHO HAVE EXPERTISE IN A FIELD OF THOUGHT BUT WHO ARE ALSO FAMILIAR WITH AND ARTICULATE IN A RANGE OF HUMANISTIC STUDIES. THIS MISSION CONTINUES TO DISTINGUISH THE CASPERSEN SCHOOL AMONG INSTITUTIONS WITH DOCTORAL PROGRAMS IN THE HUMANITIES. OUR INTENT IS TO TRAIN PERSONS WHO ARE PROPERLY PREPARED NOT ONLY IN SPECIFIC RECOGNIZED FIELDS BUT ALSO IN INTERDISCIPLINARY DIALOGUE. WE CELEBRATE THE JOY OF LEARNING AS WE PREPARE ABLE, WELL INFORMED GRADUATES WHO PURSUE CAREERS IN HIGHER EDUCATION, IN THE RELIGIOUS AND MEDICAL COMMUNITIES, AND IN THE BROADER INTELLECTUAL WORLD. AS SUCH, WE ARE WELL POSITIONED TO MEET THE INCREASING CALL FOR INTERDISCIPLINARY APPROACHES BOTH IN THE ACADEMY AND IN THE WIDER WORLD. INTEGRAL TO OUR MISSION IS ENCOURAGING OUR FACULTY AND STUDENTS ALIKE TO PURSUE CREATIVE RESEARCH IN THE HUMANITIES AND TO MAKE THE RESULTS OF THEIR WORK AVAILABLE THROUGH TEACHING, PARTICIPATION IN SCHOLARLY MEETINGS, VARIOUS FORMS OF PUBLICATION AND INTELLECTUAL DISCOURSE. TO THAT END WE CONTINUE TO EXPLORE NEW POSSIBILITIES OF ENHANCING INTERDISCIPLINARY STUDIES IN THE HUMANITIES. EXEMPT PURPOSE ACHIEVEMENTS FORM 990, PART III, QUESTION 4D AMOUNTS LISTED ON LINE 4D REPRESENT EXPENSES AND REVENUES RELATED TO OTHER PROGRAMS WHICH FURTHER THE ORGANIZATION'S EXEMPT PURPOSE. OTHER PROGRAM EXPENSES REFLECT EDUCATIONAL PROGRAM EXPENSES NOT DIRECTLY RELATED TO ONE OF THE OF THE SCHOOLS DESCRIBED ABOVE. IT INCLUDES AN ALLOCATED METHOD OF PROGRAM, AUXILIARY, AND STUDENT SERVICE EXPENSES. OTHER PROGRAM ACTIVITIES ALSO INCLUDE EXPENSES AND REVENUES FROM THE UNIVERSITY'S CONTINUING EDUCATION AND SUMMER PROGRAMS. DONOR ACKNOWLEDGEMENT FORM 990, PART V, QUESTION 7B DREW UNIVERSITY NOTIFIES THE DONOR OF THE BREAKOUT BETWEEN ANY GOODS AND SERVICES RECEIVED AND THEIR DONATION AMOUNT. IF NO GOODS AND SERVICE WERE RECEIVED WE THEN NOTIFY THE DONOR OF THAT TOO. 990 REVIEW POLICY FORM 990, PART VI, QUESTION 11B ALL MEMBERS OF THE BOARD OF TRUSTEES WERE PROVIDED WITH A COPY OF FORM 990 VIA THE TRUSTEE WEB-SITE PRIOR TO ITS FILING WITH THE IRS. CONFLICT OF INTEREST POLICY FORM 990, PART VI, QUESTION 12 ALL DECISIONS OF THE BOARD OF TRUSTEES, OFFICERS AND EMPLOYEES OF DREW UNIVERSITY ARE TO BE MADE SOLELY ON THE BASIS OF A DESIRE TO PROMOTE THE BEST INTERESTS OF THE UNIVERSITY. IT IS THEREFORE THE POLICY OF THE BOARD AND THE UNIVERSITY: 1. THAT ALL ACTIVITIES OR BEHAVIOR WHICH CONFLICT WITH THE BEST INTERESTS OF THE UNIVERSITY ARE PROHIBITED. THIS COULD INCLUDE BUT WOULD NOT BE LIMITED TO: A) USE OF UNIVERSITY RESOURCES. FOR A UNIVERSITY TRUSTEE, OFFICER OR EMPLOYEE TO MAKE IMPROPER USE OF ANY UNIVERSITY RESOURCES, INCLUDING THE SERVICES OF UNIVERSITY EMPLOYEES, FOR HIS OR HER OWN PERSONAL BENEFIT. B) COMPLIANCE WITH RULES. FOR A UNIVERSITY TRUSTEE, OFFICER, OR EMPLOYEE TO FAIL TO COMPLY WITH THE UNIVERSITY'S DULY ESTABLISHED RULES, REGULATIONS OR STANDARDS OF PERSONAL BEHAVIOR. C) DISCLOSURE OF CONFIDENTIAL INFORMATION. FOR A UNIVERSITY TRUSTEE, OFFICER, OR EMPLOYEE, WITHOUT PROPER AUTHORITY, TO GIVE OR RELEASE TO ANYONE NOT AUTHORIZED TO RECEIVE SUCH INFORMATION, ANY DATA OF A CONFIDENTIAL NATURE SECURED THROUGH HIS OR HER RELATIONSHIP TO THE UNIVERSITY. D) ACCEPTANCE OF GIFTS. FOR A UNIVERSITY TRUSTEE, OFFICER OR EMPLOYEE, OR ANY DEPENDENT MEMBER OF HIS OR HER IMMEDIATE FAMILY TO ACCEPT FROM ANY ORGANIZATION OR PERSON THAT THEY KNOW TO BE DOING OR SEEKING TO DO BUSINESS WITH THE UNIVERSITY, A LOAN OR A GIFT OR FAVOR OF MORE THAN NOMINAL VALUE. THIS PARAGRAPH SHALL NOT BE DEEMED TO PROHIBIT LOANS MADE IN THE NORMAL COURSE OF BUSINESS WITH THE TERMS STANDARD FOR SUCH LOANS FROM BANKS OR FINANCIAL INSTITUTIONS THAT MAY HAVE OR EXPECT TO HAVE RELATIONS WITH THE UNIVERSITY. E) COMPETITION WITH THE UNIVERSITY. FOR A UNIVERSITY TRUSTEE OR OFFICER, DIRECTLY OR THROUGH A CORPORATION IN WHICH HE OR SHE HAS A SUBSTANTIAL INTEREST, TO ENGAGE IN FOR REMUNERATION ANY OTHER ACTIVITY WHICH IS IN DIRECT COMPETITION WITH THE UNIVERSITY, EXCEPT WITH THE KNOWLEDGE AND WRITTEN CONSENT OF THE PRESIDENT OR THE PRESIDENT'S DESIGNEE. IF THE ACTIVITY IS THAT OF THE PRESIDENT SUCH CONSENT MUST BE GIVEN BY THE CHAIR OF THE BOARD. 2. THAT, IN THE EVENT THAT THE BOARD OR A UNIVERSITY OFFICER SHALL BE CALLED UPON TO CONSIDER A TRANSACTION INVOLVING THE UNIVERSITY AND (I) A MEMBER OF THE BOARD OR ANY OFFICER OF THE UNIVERSITY (OR A MEMBER OF HIS OR HER IMMEDIATE FAMILY), OR (II) AN ORGANIZATION WITH WHICH A MEMBER OF THE BOARD OR ANY OFFICER OF THE UNIVERSITY IS "AFFILIATED," SUCH TRUSTEE OR OFFICER, AS SOON AS HE OR SHE HAS KNOWLEDGE OF THE TRANSACTION, SHALL: (A) DISCLOSE FULLY THE PRECISE NATURE OF HIS OR HER INTEREST OR INVOLVEMENT IN SUCH TRANSACTION AND/OR SUCH ORGANIZATION; AND (B) REFRAIN FROM PARTICIPATION IN THE UNIVERSITY'S CONSIDERATION OF THE PROPOSED TRANSACTION. FOR THE PURPOSES OF THIS CONFLICT-OF-INTEREST POLICY, A TRUSTEE OR OFFICER IS "AFFILIATED" WITH ANY ORGANIZATION OF WHICH HE OR SHE (OR A MEMBER OF HIS OR HER IMMEDIATE FAMILY) IS AN EMPLOYEE, GENERAL PARTNER, MEMBER OF THE BOARD OF DIRECTORS, TRUSTEE, OR IN WHICH HE OR SHE (OR A MEMBER OF HIS OR HER IMMEDIATE FAMILY) OWNS 10% OR MORE OF THE OUTSTANDING STOCK. 3. THAT THE FOLLOWING PERSONS DISCLOSE TO THE UNIVERSITY ON A CONTINUING BASIS ALL THEIR RELATIONSHIPS AND BUSINESS AFFILIATIONS THAT REASONABLY COULD GIVE RISE TO A CONFLICT OF INTEREST, OR THE APPEARANCE OF A CONFLICT OF INTEREST, INVOLVING THE UNIVERSITY: THE TRUSTEES (INCLUDING THE PRESIDENT); THE VICE PRESIDENTS OF THE UNIVERSITY; THE DEANS; AND SUCH OTHER OFFICERS AS THE PRESIDENT SHALL DESIGNATE AS BEING OFFICERS FROM WHOM, BECAUSE OF THEIR RESPECTIVE DUTIES AND RESPONSIBILITIES, THE UNIVERSITY SHOULD RECEIVE A CONTINUING DISCLOSURE OF SUCH OUTSIDE RELATIONSHIPS AND BUSINESS AFFILIATIONS. ALL DISCLOSURES REQUIRED TO BE MADE HEREUNDER MUST BE DIRECTED IN WRITING TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES WHICH SHALL HAVE, WITH THE ASSISTANCE OF THE VICE PRESIDENT OF ADMINISTRATION AND OF THE VICE PRESIDENT FOR FINANCE AND BUSINESS AFFAIRS, THE RESPONSIBILITY FOR MONITORING OF THIS POLICY, INCLUDING THE ADMINISTRATION AND ENFORCEMENT THEREOF. THE EXECUTIVE COMMITTEE SHALL BE ADVISED IMMEDIATELY OF ANY DISPUTES OR OTHER ISSUES ARISING OUT OF THE APPLICATION OF THIS POLICY SO THAT IT CAN DETERMINE WHAT, IF ANY, ACTION IS APPROPRIATE. VICE PRESIDENT FOR FINANCE AND BUSINESS AFFAIRS, THE RESPONSIBILITY FOR MONITORING OF THIS POLICY, INCLUDING THE ADMINISTRATION AND ENFORCEMENT THEREOF. THE EXECUTIVE COMMITTEE SHALL BE ADVISED IMMEDIATELY OF ANY DISPUTES OR OTHER ISSUES ARISING OUT OF THE APPLICATION OF THIS POLICY SO THAT IT CAN DETERMINE WHAT, IF ANY, ACTION IS APPROPRIATE. COMPENSATION REVIEW FORM 990, PART VI, QUESTION 15A & 15B COMPENSATION FOR THE OFFICERS, EXECUTIVE DIRECTOR AND KEY EMPLOYEES IS DETERMINED BY THE DREW BOARD OF DIRECTORS ON THE RECOMMENDATION OF THE COMPENSATION COMMITTEE. NO INDIVIDUALS WITH A CONFLICT OF INTEREST MAY BE INVOLVED IN THE COMPENSATION DETERMINATION PROCESS. COMPARABILITY DATA FOR SIMILARITY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARITY SITUATED ORGANIZATIONS IS PREPARED BY THE ORGANIZATION AND REVIEWED BY THE BOARD OF DIRECTORS. THE MINUTES OF THE BOARD OF DIRECTORS AND THE COMPENSATION COMMITTEE DOCUMENT THE BOARD'S AND COMMITTEE'S DELIBERATIONS AND DECISIONS REGARDING COMPENSATION. THE BENCHMARK DATA IS DERIVED FROM A CUSTOM REPORT PROVIDED BY THE COLLEGE AND UNIVERSITY PERSONNEL ASSOCIATION (CUPA). THE UNIVERSITY MAINTAINS A LIST OF ABOUT 50 INSTITUTIONS THAT ARE SIMILAR TO DREW IN SIZE, SCOPE AND MISSION. MEAN AND MEDIAN SALARIES FOR POSITIONS THAT ARE COMPARABLE TO OUR CABINET ARE DERIVED FROM THE DATA PROVIDED BY CUPA AND ADJUSTED BY A COST OF LIVING FACTOR TO DETERMINE THE BENCHMARK. THE BENCHMARK IS USED BY THE COMMITTEE TO DETERMINE THE APPROPRIATENESS OF SALARIES, SALARY INCREASES AND SALARIES OF NEW EXECUTIVE HIRES." DOCUMENT DISCLOSURE FORM 990, PART VI, QUESTION 19 DREW UNIVERSITY MAKES ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC IN THE FOLLOWING MANNER: 1. GOVERNING DOCUMENTS SUCH AS THE CONFLICT OF INTEREST POLICY, UNIVERSITY CHARTER, UNIVERSITY MISSION STATEMENT, WHISTLE BLOWER POLICY, TRAVEL AND ENTERTAINMENT, PURCHASING, SIGNATURE AUTHORITY ARE MADE AVAILABLE TO THE PUBLIC THROUGH THE UNIVERSITY WEB-SITE. THE WEB-SITE IS AVAILABLE ON DEMAND TO THE PUBLIC AT WWW.DREW.EDU 2. THE UNIVERSITY TAX FILING FORM 990 IS AVAILABLE AT WWW.GUIDESTAR.ORG AND AVAILABLE UPON REQUEST. 3. THE UNIVERSITY FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON THE WEB-SITE AND AVAILABLE UPON DEMAND BY THE PUBLIC. 4. ANY CHANGES THAT ARE MADE TO THE GOVERNING DOCUMENTS ONCE RATIFIED, ARE UPDATED TO THE UNIVERSITY WEB-SITE INSTANTLY, THEREBY MAKING THE WEB-SITE AN UP TO DATE AND LIVE ENVIRONMENT FOR THE UNIVERSITY'S DOCUMENTS. OTHER CHANGES IN NET ASSETS FORM 990, PART IX, LINE 5 UNREALIZED GAIN OR LOSS ON INVESTMENTS ................. 17,923,091 CHANGE IN FAIR VALUE OF TRUST, POOLED INCOME FUNDS, GIFT ANNUITITES AND RELATED DISTRIBUTIONS ........... 4,231,000 PENSION-RELATED CHANGES OTHER THAN NET PERIODIC PENSION COST ................................................ 1,771,000 LOSS ON BOND DEFEASANCE ................................ (144,000) INCOME FROM PARTNERSHIPS ............................... (119,870) PRIOR PERIOD ADJUSTMENT ................................ 39,889 ----------- 23,701,110 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:HOWARD BUXBAUM TITLE:VP OF FINANCE HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:MARGARET HOWARD TITLE:VP OF ADMINISTRATION HOURS:1 HOURS DEVOTED FOR RELATED ORGANIZATION FORM 990 PART VII NAME:JOSEPH KELLY TITLE:ASSOC VP FINANCE/TREASURER HOURS:1 University Housing Project Corporation 36 Madison Ave Madison NJ 07940 222970182 DVLPM HOUSING NJ 501(C)(3) 2 Drew Univer Copper Beech Condominium Association CBC 36 Madison Ave Madison NJ 07940 223094649 Real estate m NJ UNIV HSNG PRJCT Condo Assoc. 97204 154802 0.57810 LENOX S ROSE TRUST 36 MADISON AVENUE MADISON NJ 07940 226024267 TRUST NJ NA TRUST 0 9095000 1.00000 LLYOD W SMITH TRUST 36 MADISON AVENUE MADISON NJ 07940 226021858 TRUST NJ NA TRUST 0 6526000 0.87632 true false false true false false false false false false false false false false false true false false UNIVERSITY HOUSING PROJECT CORPORATION A 190879 UNIVERISTY HOUSING PROJECT CORPORATION D 4487576 COPPER BEECH CONDOMINIUM ASSOCIATION D 149516 UNIVERISTY HOUSING PROJECT CORPORATION P 131697 COPPER BEECH CONDOMINIUM ASSOCIATION P 140068