2012-04-11T14:43:41-05:00 2011-05-31 KPMG LLP 303 E WACKER DRIVE CHICAGO IL 606015212 990 2010-06-01 362170136 ILLINOIS INSTITUTE OF TECHNOLOGY ILLI 3125673677 3300 S FEDERAL CHICAGO IL 60616 Patricia Laughlin 3125675850 2012-04-03 true kpmg llp 3126651000 2010 2016-02-24 21:20:13Z John L Anderson Suite 1900 10 W 35th Street Chicago IL 60616 350373118 false X WWW.IIT.EDU X 1940 IL TO PROVIDE DISTINCTIVE AND RELEVANT EDUCATION IN AN ENVIRONMENT OF SCIENTIFIC, TECHNOLOGICAL, AND PROFESSIONAL KNOWLEDGE CREATION AND INNOVATION. 70 69 4552 97 411137 -151768 58827069 80703653 192989303 217837290 76384816 1597583 5004183 4955270 333205371 305093796 62327726 60346150 0 0 128648030 132274986 0 88016 7273694 101048351 103613330 292024107 296322482 41181264 8771314 521138037 554886680 279387070 281390562 241750967 273496118 X TO PROVIDE DISTINCTIVE AND RELEVANT EDUCATION IN AN ENVIRONMENT OF SCIENTIFIC, TECHNOLOGICAL, AND PROFESSIONAL KNOWLEDGE CREATION AND INNOVATION. false false 144575837 60346150 134341116 See Schedule O 41584616 44683585 Research awards received in fiscal year 2011 reached $44.6 million. IIT has received awards in many areas that are synergistic with the strategic plan. Notably, the Electrical and Computer Engineering Department received 23 awards totaling $10.6 million. The Biological Chemical and Physical Sciences Department received 54 awards totaling $5.8 million, Chemical and Biological Engineering 20 awards totaling $3.9 million, Mechanical Aerospace and Material Engineering 31 awards totaling $3.9 million, and the Institute of Psychology 9 awards totaling $1.9 million. In addition, the National Center for Food Safety and Technology received 13 awards totaling $5.9 million. 18503100 7277924 IIT provides students with the information skills to compete in today's challenging and rapidly changing environment through its several libraries and academic computing centers allowing students access to terminals. In addition, the Provost's office offers several programs that provide advising and counseling. 16169492 19375789 STUDENT SERVICES 12058780 12158876 AUXILIARY SERVICES 28228272 31534665 232891825 true true false true false false false false true true false false false true true false true true true true false false true true false false false true true true false false false false false false false false false true true false false false false true true false false false true 10081 0 4552 true true true true FR IN false false false true true false false false false X 70 69 true false false false false false false true true false false true true true true true true true true false X BRIAN LAFFEY 3125673677 3300 S FEDERAL STREET CHICAGO IL 60616 JOHN ANDERSON 39.0 X X 639588 0 32657 Andrew V Agostini 1.0 X 0 0 0 Vernon Armour 1.0 X 0 0 0 Bahman Atefi ScD 1.0 X 0 0 0 William C Bartholomay 1.0 X 0 0 0 Andrea L Berry 1.0 X 0 0 0 Giuseppe Calabrese 1.0 X 0 0 0 John Peter Calamos Sr 1.0 X 0 0 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false false false false true 308908 false false 308908 false LOBBYING ACTIVITY EXPLANATION SCHEDULE C, PART II-B Holland & Knight represented Illinois Institute of Technology before the Federal Government on issues related to funding various research programs and John T. O'Connell, LTD. performs the same function before the State of Illinois. In addition, IIT's Vice President and Associate Vice President for External Affairs interact with Federal, state, and local officials regarding such matters. 180039329 16875000 25097000 7863412 4684772 209463145 174911000 8014000 26465000 10471823 18878848 180039329 294072000 7533195 -93313760 4807145 28573290 174911000 0.19000 0.81000 0.00000 false false 29290463 29290463 335737534 138935515 196802019 77984400 52148338 25836062 8744762 0 8744762 260673306 0 FOR STUDENT LOANS 8117287 OBLIGATION UNDER SPLIT INTEREST AGREEMENTS 1409714 DEPOSITS BY STUDENTS & OTHER 3169963 ACCRUED POSTRETIREMENT BENEFIT OBLIGATION 5362814 ASSET RETIREMENT OBLIGATION RESERVE 2300939 20360717 Use of endowment fund Part V, line 4 The purpose of the endowment fund is to facilitate donors' desires to make substantial long-term gifts to the university and to provide an additional source of revenue for the University. In doing so, the endowment fund provides a secure, long-term source of funds to: (a) fund special programs, such as research and scholarship; (b) ensures long-term growth; (c) enhances the University's ability to meet changing needs; and (d) supports the administrative expenses of the University as deemed appropriate. FIN 48 (ASC 740) Footnote Schedule D, Part X, Line 2 The university has received a determination letter from the Internal Revenue Service indicating that it is a tax-exempt organization as provided in Section 501(c)(3) of the internal revenue code of 1986 and, except for taxes related to unrelated business income, is exempt from federal and state income taxes. management has included a provision for income taxes on unrelated business income related to the university's interest in certain partnership investments. the unrelated business income liability at May 31, 2011 of $16 is reported in accounts payable and accrued expenses. true true true true true true true false false false false false false false false true false true SCHEDULE E, LINE 3 POLICY PUBLISHED YEARLY IN VARIOUS STUDENT BULLETINS. IT ALSO APPEARS ON APPLICATIONS, AND OTHER FORMS, AND IT IS POSTED ON THE UNIVERSITY'S WEBSITE. Europe (Including Iceland and Greenland) 1 Program Services Class inst. & rectg. 337773 South Asia 1 Program Services Class inst. & rectg. 361960 East Asia and the Pacific Program Services Consultants for rectg. 234828 2 2 934561 934561 true false true false false false X X X X X X X true Washburn McGoldrick Inc Consult on raising fds false 0 88016 0 0 88016 0 IL Law Luncheon 31600 19750 11850 26772 20208 Golf outing 219480 184480 35000 30116 0 251080 204230 46850 26772 50324 77096 -30246 true Scholarships 9327 60346150 The use of grant funds is monitored through a grant management system. X X X false false false false false false false false false ALAN CRAMB 387935 0 0 0 33822 0 22050 0 16071 0 459878 0 0 0 BETSY HUGHES 266374 0 15450 0 810 0 22050 0 16020 0 320704 0 0 0 DARSH WASAN 245477 0 0 0 3889 0 20652 0 10607 0 280625 0 0 0 DAVID BAKER 187552 0 0 0 2977 0 16894 0 0 0 207423 0 0 0 DONNA ROBERTSON 222478 0 0 0 2153 0 21012 0 14848 0 260491 0 0 0 HAMID ARASTOOPOUR 250039 0 0 0 1721 0 17749 0 15105 0 284614 0 0 0 HAROLD KRENT 290534 0 0 0 17742 0 22050 0 15402 0 345728 0 0 0 HARVEY KAHALAS 294130 0 58246 0 22052 0 22050 0 10607 0 407085 0 0 0 HENRY PERRITT 242652 0 0 0 6274 0 20774 0 5766 0 275466 0 0 0 JOHN ANDERSON 545070 0 56160 0 38358 0 22050 0 10607 0 672245 0 0 0 JOHN COLLINS 235780 0 0 0 3429 0 21717 0 0 0 260926 0 0 0 LEROY KENNEDY 124724 0 0 0 14689 0 14456 0 10607 0 164476 0 0 0 MARY ANNE SMITH 222867 0 0 0 6203 0 20542 0 4932 0 254544 0 0 0 MOHAMMAD SHAHIDEHPOUR 221425 0 1000 0 1834 0 18943 0 16071 0 259273 0 0 0 NATACHA DEPAOLA 300622 0 0 0 17310 0 22050 0 16071 0 356053 0 0 0 OPHIR TRIGALO 232969 0 0 0 793 0 22066 0 16020 0 271848 0 0 0 PATRICIA LAUGHLIN 272117 0 0 0 35322 0 6863 0 10577 0 324879 0 0 0 RUSSELL BETTS 256313 0 0 0 20064 0 22050 0 0 0 298427 0 0 0 Allan Myerson 175387 0 0 0 12290 0 10625 0 5726 0 204028 0 0 0 VINCENT TURITTO 217108 0 0 0 22444 0 19781 0 13839 0 273172 0 0 0 A DAN TARLOCK 236837 0 0 0 6065 0 20391 0 9895 0 273188 0 0 0 ALI CINAR 192055 0 0 0 19475 0 19152 0 9895 0 240577 0 0 0 Illinois Finance Authority 861091967 45200FYX1 2009-07-22 29381972 Renovation of facilities false false false Illinois Finance Authority 861091967 45200BYH5 2006-03-23 156502991 Refinancing & facility Renovat false false false 29381972 2709106 587637 22206259 2045456 1833514 2011 false false false true 156502991 103705558 1418858 51378575 2008 true true true true false false false false false 0.00000 0.00000 0.00000 true false false false false false 0.00000 0.00000 0.00000 true false false false false false false false false false false false false Mesirow Financial Services CEO is a Trustee 652158 insurance premiums false Mesirow Financial Services CEO is a Trustee 85000 insurance brokerage services false Exelon Company ceo is a trustee 4580463 Electricity Supplier false SmartSignal Corporation CEO is a trustee 25000 Research Services false McCoy Energy LLC owner is a Trustee 149194 Research Services false Grainger US President is a trustee 45597 Supply Distributor false Business transactions with interested persons Schedule L, Part IV The transactions listed in Schedule L, Part IV, Business Transactions Involving Interested Persons, were consistent with the conflict of interest policy described in Schedule O. Illinois Institute of Technology requires compliance with the conflict of interest policy for all business transactions with interested persons. X 32 5845459 FMV false true false Program Services FORM 990, PART III, Line 4a Instruction supports 32 majors, 60 minors, and more than 92 specializations and has 2,562 undergraduate, 3,815 graduate, and 1,094 law students. The University offered and awarded 544 bachelor, 1,487 master, 332 J.D., and 80 PHD degrees during the 2011 academic year. The University continues to redefine its Interprofessional Projects ("IPRO") program. The IPRO program joins together students from various academic disciplines to work as a team to tackle a real-world problem. Such experiential learning reinforces traditional education methods, providing students a richer academic experience. Recently, IPRO project teams designed a hydrogen fueling station powered by the wind and the sun, engineered synthetic micro-organisms-work that is on the forefront of applied genomic research and development, and devised a sustainable, self-supporting way for developing countries to purify water. Other Program Services Form 990, Part III, Line 4d STUDENT SERVICES: This program provides health, academic, student orientation and other student services including the student finance center, admissions, and registration. In addition, these services also include the dean of students and student activities and minority programs. AUXILIARY SERVICES: This provides for campus housing and dining for the students and includes residence halls and a dining room, apartment-style buildings, six fraternity houses, and two sorority houses. Related Party Transactions FORM 990, PART VI, SECTION A, QUESTION 2 In FY 2011, Andrew V. Agostini and James C. Tyree, trustees of the University, had a business relationship in that they were investors, with others who were not officers, directors, trustees, or key employees of the University, in a certain business venture. In FY 2011, James R. Gagnard, Robert L. Growney, Ralph Wanger, and Craig J. Duchossois, trustees of the University, had a business relationship in that they were investors, with others who are not officers, directors, trustees, or key employees of the University, in certain business ventures and investment entities. In FY 2011, Craig J. Duchossois, Patrick J. Kelly, and A. Steven Crown, trustees of the University, had a business relationship in that they either provided services to, or served on the advisory board of, an investment firm in which James E. Cowie had an ownership interest; in addition, Mr. Duchossois, Mr. Kelly, and Mr. Crown were investors in certain funds managed by said investment firm. In FY 2011, James R. Gagnard, a trustee of the University, was CEO of a company that had been awarded a federally-sponsored research subcontract in FY 2010 (March 24, 2010). Said subcontract remained in force during FY 2011. Mr. Gagnard resigned from said company during FY 2011. In FY 2011, Robert L. Growney, Craig Duchossois, and Ellen Jordan Reidy, trustees of the University, had a business relationship in that they were investors, with others who are not officers, directors, trustees, or key employees of the University, in a certain business venture. In FY 2011, James W. Kiley, Craig Duchossois, Robert L. Growney, John P. Calamos, Sr., James E. Cowie, Thomas E. Lanctot, and Patrick J. Kelly, trustees of the University, had a business relationship in that they were investors, with others who are not officers, directors, trustees, or key employees of the University, in certain business ventures and investment entities. In FY 2011, Paul D. McCoy, a trustee of the University, owned a company that had been awarded (on September 27, 2010) a federally-sponsored research subcontract in FY 2011. In FY 2011, said company owned by Mr. McCoy was awarded two federally sponsored research subcontracts in FY 2010 (January 1, 2010 and February 25, 2010). Said subcontracts remained in force during FY 2011. In FY 2011, Victor A. Morgenstern and Antonio J. Gracias, trustees of the University, had a business relationship in that Mr. Morgenstern served as chair of the board of a certain business venture of which Mr. Gracias was CEO. In FY 2011, Anita M. Nagler and Andrew V. Agostini, trustees of the University, had a business relationship in that Ms. Nagler was an investor in certain funds managed by the investment firm of which Mr. Gracias is CEO. In FY 2011, Robert J. Potter and John H. Krehbiel, Jr., trustees of the University, had a business relationship in that they served together on the board of directors of a company. In FY 2011, A. Steven Crown and John W. Rowe, trustees of the University, have a business relationship in that they serve together on the board of directors of a company. In FY 2011, James R. Gagnard and Efthimios J. Stojka, trustees of the University, had a business relationship in that Mr. Gangard served on the board of a certain business venture owned by Mr. Stojka. Michael P. Galvin and Robert W. Galvin, trustees of the University, have a family relationship. Form 990 Review Form 990, Part VI, Section B, Question 11b THE FORM 990 IS REVIEWED BY THE VICE PRESIDENT OF FINANCE AND ADMINISTRATION, AVP FINANCE & CONTROLLER, AND VICE PRESIDENT AND GENERAL COUNSEL. ONCE THE FORM 990 IS APPROVED BY MANAGEMENT, THE FORM IS SENT TO THE AUDIT AND COMPLIANCE COMMITTEE AND THE EXECUTIVE COMMITTEE (ACTING FOR THE FULL BOARD OF TRUSTEES) FOR REVIEW, FOLLOWED BY A CONFERENCE CALL FOR QUESTIONS AND ANSWERS. ONCE REVIEWED BY THE AUDIT COMMITTEE AND THE EXECUTIVE COMMITTEE, THE VICE PRESIDENT, FINANCE AND ADMINISTRATION SIGNS THE FORM 990. Conflict of Interest Policy Form 990, Part VI, Section B, Question 12c ON AN ANNUAL BASIS, COVERED IIT EMPLOYEES AND BOARD OF TRUSTEE MEMBERS MUST REVIEW THE CONFLICT OF INTEREST POLICY. ALL EMPLOYEES AND TRUSTEES ARE REQUIRED TO SIGN AND DATE A CONFLICT OF INTEREST ATTESTATION DOCUMENT WHETHER A CONFLICT IS PRESENT OR NOT. GENERAL COUNSEL MONITORS THE EMPLOYEES AND TRUSTEES THAT HAVE REVIEWED THE POLICY AND DOCUMENT THE CONFLICT OF INTEREST INSTANCES. Review of Compensation of CEO, Executive Director, or Top Management Form 990, Part VI, Section B, Question 15a THE BOARD OF TRUSTEES ("BOT") is RESPONSIBLE FOR ESTABLISHING THE PRESIDENT'S ("CEO") SALARY. THE BOT CREATES A PRESIDENT SEARCH COMMITTEE RESPONSIBLE FOR DEVELOPING THE SEARCH, SELECTING THE CANDIDATES FOR INTERVIEWING, ESTABLISHING THE SALARY, CONDUCTING THE INTERVIEWS AND RECOMMENDING THE CANDIDATE TO HIRE. THE COMMITTEE WILL BASE THE SALARY ON A HUMAN RESOURCE BENCHMARK STUDY COMPARING ALL CHICAGO UNIVERSITIES AND NATIONAL UNIVERSITIES WITH THE SAME STUDENT ENROLLMENT AND OTHER ACTIVITIES. ON AN ANNUAL BASIS, HUMAN RESOURCES WILL PROVIDE THE BOT AN UPDATED BENCHMARK SURVEY FOR THEIR REVIEW. BASED ON THE ANNUAL SURVEY, THE BOT MAY APPROVE AN ADJUSTMENT TO THE PRESIDENT'S SALARY. Review of Key employees and highest compensated individuals Compensation Form 990, Part VI, Section B, Question 15b The authority to review the annual salaries of the President, the Vice Presidents, and other senior officers is delegated to the Executive Committee by the Board of Trustees. The Committee obtains comparative analyses and studies from the Human Resource department with respect to compensation of similar organizations to ensure that the University's compensation is comparable. After the Executive Committee reviews the performance and salary data, they vote on the compensation. Availability of Governing Documents, Conflict of Interest Policy and F/S Form 990, Part VI, Section C, Question 19 Financial Statements, Conflict of Interest Policy, and Governing Documents are located on IIT's website. Change in Other Net Assets Form 990, Part XI, Line 5 Net unrealized gain on investment $24,995,000 Net unrealized gain on beneficial interest in perpetual trust 2,716,000 Net loss on impairment of land parcel (700,000) Reverse for scholarships reflected in gross tuition (64,363,313) Reverse for grants and scholarships paid 60,346,150 ---------- Total Other Changes in Net Assets 22,973,837 ========== Consolidated Audit Report Form 990, Part IV, Question 12 and Part XII, Question 2B The Organization's Financial Statements were audited on a consolidated basis and no separate Company audit report is available. IIT RESEARCH INSTITUTE 10 West 35th Street Chicago IL 60616 362169122 Research IL 501(c)(3) 11 NA false false false false false false false false true false true false true false false true false false TRANSACTIONS WITH RELATED ORGANIZATIONS SCHEDULE R, PART V, LINE 2 THE TRANSACTIONS REPORTED IN LINE 1 ARE BETWEEN RELATED 501(C)(3) PUBLIC CHARITIES AND ARE NOT REPORTED IN THIS SECTION.