2024-04-13T17:12:25-05:00 2023-05-31 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2022-06-01 030179424 NORWICH UNIVERSITY NORW 8024852040 158 HARMON DRIVE NORTHFIELD VT 05663 JAMES DUNKELMAN INTERIM VP ADMIN. & FINANCE 8024852040 2024-04-12 1 JAMES DUNKELMAN 999009999 0 LAURA J KENNEY P00202198 6177170831 2024-04-05 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z KAREN GAINES 158 HARMON DRIVE NORTHFIELD VT 05663 209342579 0 X WWW.NORWICH.EDU X 1819 VT NORWICH'S MISSION IS TO GIVE OUR YOUTH AN EDUCATION THAT SHALL BE AMERICAN IN ITS CHARACTER. 29 28 1830 500 0 0 27830528 27562974 152222144 147234898 24011838 17639890 -129932 222536 203934578 192660298 73959682 71388830 0 0 62134489 62666606 0 0 3880961 57629872 62469590 193724043 196525026 10210535 -3864728 512867844 487810039 99812155 95522875 413055689 392287164 X NORWICH UNIVERSITY'S MISSION IS TO GIVE OUR YOUTH AN EDUCATION THAT SHALL BE AMERICAN IN ITS CHARACTER. 0 0 126956296 71388830 113842090 INSTRUCTIONAL - STUDENT BODY OF OVER 3,000 GRADUATE AND UNDERGRADUATE STUDENTS. LIBRARY AND COMPUTER CENTER SERVICING STUDENT BODY, FACULTY AND STAFF. WEB-BASED INSTRUCTIONAL PLATFORM SUPPORTING OVER 1,000 GRADUATE AND UNDERGRADUATE STUDENTS. STUDENTS RECEIVE CAMPUS-BASED GRANTS, SCHOLARSHIPS AND AWARDS COUPLED WITH AID FROM FEDERALLY FUNDED PROGRAMS. 47120388 33557904 AUXILIARY ENTERPRISES AND OTHER STUDENT SERVICES INCLUDE CAFETERIA, DORMITORIES, BOOKSTORE AND UNIFORM SHOP SERVICING THE UNDERGRADUATE POPULATION OF OVER 2,000 UNDERGRADUATE STUDENTS. 174076684 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 1 1 1 1 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 1 5380 0 1 1830 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 29 28 0 0 0 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 0 AK CO ME MD MA MI NV NH NY OH OR SC X JAMES DUNKELMAN 8024852040 158 HARMON DRIVE NORTHFIELD VT 05663 X MARK ANARUMO PRESIDENT 40.00 0.00 X X 384036 0 78257 ALAN F DEFOREST CHAIRMAN 2.50 0.00 X X 0 0 0 ROBERTA HANEY VICE CHAIR 2.50 0.00 X X 0 0 0 PHILIP SOUCY VICE CHAIRMAN 2.50 0.00 X X 0 0 0 TREVOR ALBERTSON TRUSTEE 2.50 0.00 X 0 0 0 MARK BOWMAN TRUSTEE 2.50 0.00 X 0 0 0 JOHN BROADMEADOW TRUSTEE 2.50 0.00 X 0 0 0 JOHN COLLINS TRUSTEE 2.50 0.00 X 0 0 0 LAWRENCE COSTA TRUSTEE 2.50 0.00 X 0 0 0 PETER DALRYMPLE TRUSTEE (UNTIL FYE 2023) 2.50 0.00 X 0 0 0 ISABELLE DESJARDINS TRUSTEE 2.50 0.00 X 0 0 0 PHILIP DOWN TRUSTEE 2.50 0.00 X 0 0 0 PATRICIA ELMER TRUSTEE 2.50 0.00 X 0 0 0 JOHN GATTI TRUSTEE (UNTIL FYE 2023) 2.50 0.00 X 0 0 0 MAXINE GRAD TRUSTEE 2.50 0.00 X 0 0 0 JOHN KOZIOL TRUSTEE 2.50 0.00 X 0 0 0 JOAN LAFRANCE TRUSTEE 2.50 0.00 X 0 0 0 LARRY LANG TRUSTEE 2.50 0.00 X 0 0 0 WILLIAM LASKY TRUSTEE 2.50 0.00 X 0 0 0 BLAIR LAVOIE TRUSTEE 2.50 0.00 X 0 0 0 FRANCISCO LEIJA TRUSTEE 2.50 0.00 X 0 0 0 PAMELA LITTLE TRUSTEE 2.50 0.00 X 0 0 0 JESUS MANGUAL TRUSTEE 2.50 0.00 X 0 0 0 CHARLES MENG TRUSTEE (UNTIL FYE 2023) 2.50 0.00 X 0 0 0 RICHARD NEAL TRUSTEE (UNTIL FYE 2023) 2.50 0.00 X 0 0 0 MICHAEL PALMER TRUSTEE 2.50 0.00 X 0 0 0 DAVID PIERCE TRUSTEE 2.50 0.00 X 0 0 0 E MILES PRENTICE TRUSTEE 2.50 0.00 X 0 0 0 BENJAMIN PRICE TRUSTEE 2.50 0.00 X 0 0 0 WILLIAM PRIESMEYER TRUSTEE 2.50 0.00 X 0 0 0 LANDERS SYMES TRUSTEE 2.50 0.00 X 0 0 0 MARK THOMPSON TRUSTEE 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SUSMANN VP STRATEGIC PTNRSHP/PRES NUARI 4.00 36.00 X 0 273433 44701 HUW READ PROFESSOR OF INFORMATION SECURITY 40.00 0.00 X 171860 0 43889 MARCUS ELLIS PROGRAM DIRECTOR 40.00 0.00 X 165360 0 29223 HENRY COLLIER PROGRAM MANAGER 40.00 0.00 X 157192 0 42001 MICHAEL BATTIG PROFESSOR 40.00 0.00 X 152729 0 45215 2820861 273433 512150 71 0 1 0 PEARSON EDUCATION INC 221 RIVER ST HOBOKEN NJ 07030 OUTSOURCED ADMISSIONS 1920083 VIRGINIA POLYTECHNICAL INSTITUTE AND STA 800 WASHINGTON ST SW BLACKSBURG VA 24061 GRANT SUBAWARD 1724920 NUARI-NU APPLIED RESEARCH INSTITUTES PO BOX 30 NORTHFIELD VT 05663 GRANT SUBAWARD 1457727 TEXAS A&M UNIVERSITY 400 HARVEY MITCHELL PKWY S SUITE 3 COLLEGE STATION TX 77845 GRANT SUBAWARD 1426359 WILEY EDU LLC 851 TRAFALGAR CT SUITE 420 W MAITLAND FL 32751 OUTSOURCED ADMISSIONS 1382848 32 23449 485018 16393170 10661337 510872 27562974 TUITION AND FEES 611310 113842090 113842090 ROOM AND BOARD 611310 29641982 29641982 AUXILIARY SERVICES 611310 3750826 3750826 147234898 3436407 3436407 272 272 632962 497939 135023 135023 135023 29979338 15775855 14203483 14203483 14203483 330632 485018 408487 -77855 -77855 STUDENT LOAN INTEREST 900099 165096 165096 165096 192660298 147399994 0 17697330 233970 233970 70997283 70997283 157577 157577 1853261 680722 774603 397936 52251331 42361488 7615652 2274191 2715311 2201372 395758 118181 2330476 1889376 339668 101432 3516227 2850695 512491 153041 917569 715949 201620 78804 78804 154118 154118 18676 18676 1023683 1023683 14424821 13024817 1119908 280096 389216 364172 22794 2250 552820 443210 64556 45054 3945644 1479147 2411069 55428 3442575 3436644 3563 2368 3778055 3074732 454759 248564 18413 15015 3398 3114931 2961419 153512 9224188 8770257 453931 1310323 1310323 FOOD SERVICE 7217759 6964356 233126 20277 OUTSOURCED ADMISSIONS 3276145 3276145 SUPPLIES 2495778 2065888 394563 35327 REPAIRS AND MAINTENANCE 1856695 1835225 20364 1106 5229377 4277225 806442 145710 196525026 174076684 18567381 3880961 20182031 20543794 6286001 5644918 9309302 9927872 3942951 2487623 1724826 1850134 2948516 2576270 329289406 161343466 169494839 167945940 103863656 88062524 179581351 174867263 15534371 13903701 512867844 487810039 4150655 3539670 3540686 5940848 71555914 68432121 2376651 20564900 15233585 99812155 95522875 X 187570524 176286970 225485165 216000194 413055689 392287164 512867844 487810039 X -3864728 -19827224 2923427 X 0 1 X 1 1 1 X 17507879 13859364 25214598 27830528 27562974 111975343 17507879 13859364 25214598 27830528 27562974 111975343 1704292 110271051 2995405 2535717 4194469 2169139 4069641 15964371 18164 18164 127957878 751276963 0.86180 0.84630 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 4646 0 1 14030 18676 0 PART II-B, LINE 1: NORWICH UNIVERSITY PAYS DUES TO SEVERAL ASSOCIATIONS WHICH INCLUDE AS PART OF THEIR ONGOING ACTIVITIES LOBBYING ACTIVITIES WITH FEDERAL AND STATE LEGISLATIVE BODIES. NORWICH ESTIMATES THAT A QUARTER OF DUES PAID TO SUCH ORGANIZATIONS FINANCE SUCH LOBBYING ACTIVITIES, THE TOTAL OF WHICH IS $18,676. IN ADDITION TO THE ABOVE, NORWICH STAFF HAS SPENT TIME IN DIRECT CONTACT WITH LEGISLATORS ON ISSUES IMPACTING THE UNIVERSITY. X X X X 0 292956988 5400168 -3345716 6380565 15784088 1023683 271823104 338240724 4727117 -38208664 5318298 5472762 1011129 292956988 224549886 4652080 121313475 3964889 6408065 1901763 338240724 221547427 2196086 15493780 4762328 9105247 819832 224549886 225262364 3505515 4913289 4599487 6349353 1184901 221547427 0.26880 0.73100 0.00020 0 0 1051510 1051510 247454076 106047893 141406183 46940958 40628647 6312311 33842862 14666926 19175936 167945940 EQUITY ALTERNATIVE INVESTMENTS 84163960 F OTHER ALTERNATIVE INVESTMENTS 929011 F HEDGE FUND ALTERNATIVE INVESTMENTS 30577449 F HEDGE FUNDS 59092506 F REAL ASSET FUNDS 104337 F 174867263 GOVERNMENT ADVANCES & STUDENT LOANS 2902656 ACCRUED LIABILITIES 4913861 DISCOUNT ON LIFE INCOME FUNDS 1970160 SWAP VALUATION 5446908 15233585 X PART III, LINE 1A: THE UNIVERSITY'S COLLECTIONS ARE MADE UP OF ARTIFACTS OF HISTORICAL SIGNIFICANCE, SCIENTIFIC SPECIMENS, AND ART OBJECTS THAT ARE HELD FOR EDUCATIONAL, RESEARCH, SCIENTIFIC AND CURATORIAL PURPOSES. EACH OF THE ITEMS IS CATALOGED, PRESERVED, AND CARED FOR, AND ACTIVITIES VERIFYING THEIR EXISTENCE AND ASSESSING THEIR CONDITION ARE PERFORMED CONTINUOUSLY. THE UNIVERSITY'S COLLECTIONS, WHICH WERE ACQUIRED THROUGH PURCHASES AND CONTRIBUTIONS SINCE THE UNIVERSITY'S INCEPTION, ARE NOT RECOGNIZED AS ASSETS ON THE STATEMENT OF FINANCIAL POSITION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN NET ASSETS WITHOUT DONOR RESTRICTIONS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED, OR AS NET ASSETS WITH DONOR RESTRICTIONS IF THE ASSETS USED TO PURCHASE THE ITEMS ARE RESTRICTED BY DONORS. CONTRIBUTED COLLECTION ITEMS ARE NOT REFLECTED ON THE FINANCIAL STATEMENTS. THE UNIVERSITY RECORDS ITEMS OF COLLECTIONS, WHICH ARE RECEIVED FOR EDUCATIONAL PURPOSES AND GENERALLY DISPLAYED THROUGHOUT THE UNIVERSITY, AS GIFTS AT NOMINAL VALUE. THESE GIFTS ARE NOT DISPOSED OF FOR FINANCIAL GAIN OR OTHERWISE ENCUMBERED IN ANY MANNER. PART III, LINE 4: THE SULLIVAN MUSEUM AND HISTORY CENTER, THE MUSEUM OF NORWICH UNIVERSITY, HAS A COLLECTION OF 14,000-16,000 OBJECTS WHICH ARE USED TO SHARE THE COLLECTIVE STORIES OF THE THOUSANDS OF NORWICH STUDENTS, FACULTY, AND STAFF SINCE ITS FOUNDING IN 1819. THE COLLECTION BEGAN AROUND 1900 AND IS STILL GROWING TODAY WITH THE GENEROUS DONATIONS OF NORWICH ALUMNI AND FRIENDS. TODAY THE COLLECTION PROCESS IS OVERSEEN BY A COLLECTION COMMITTEE AND TWO PROFESSIONALLY TRAINED MUSEUM STAFF MEMBERS, A DIRECTOR AND A CURATOR. THE COLLECTION CONTAINS FINE ARTS (PAINTINGS, SCULPTURES, PRINTS), DECORATIVE ARTS (FURNITURE, ETC.), MILITARY FIREARMS AND OTHER WEAPONS, TEXTILES (UNIFORMS AND FLAGS), PERSONAL COLLECTIONS OF VARIOUS MILITARY OFFICERS FROM CAPTAIN ALDEN PARTRIDGE, OUR FOUNDER, TO THE PRESENT, AND ITEMS REPRESENTING THE VARIOUS DEPARTMENTS OF THE UNIVERSITY INCLUDING MUSICAL INSTRUMENTS, ENGINEERING EQUIPMENT, SPORTS ITEMS, CAVALRY AND AVIATION EQUIPMENT, AND BUSINESS MACHINES. THE SULLIVAN MUSEUM IS CONSIDERED A "TEACHING MUSEUM," A TERM OFFICIALLY ADOPTED BY THE AMERICAN ASSOCIATION OF UNIVERSITY MUSEUMS AND GALLERIES, WHICH INDICATES AN INSTITUTION WITH THE PRIMARY PURPOSE OF USING ITS COLLECTIONS AS A TEACHING RESOURCE. MUSEUM STAFF IS COMMITTED TO WORKING WITH ALL FACULTY AND CLASSES ACROSS CAMPUS IN MULTIPLE DISCIPLINES AND HAS A SPECIAL "SMART CLASSROOM" WITHIN THE MUSEUM FOR THAT PURPOSE. THE MUSEUM STRIVES TO INTEGRATE ITSELF INTO THE CURRICULUM IN VARIOUS WAYS INCLUDING OFFERING EXHIBITION AND PROGRAM OPPORTUNITIES TO BOTH FACULTY AND STAFF; MAKING THE COLLECTION RESOURCES AVAILABLE TO ALL FOR RESEARCH AND PROJECT USE; AND DIRECTLY TEACHING IN THE MUSEUM FOR VARIOUS CLASSES SUCH AS ENGLISH, LITERATURE, AND HISTORY. PART V, LINE 4: THE PURPOSE OF THE NORWICH UNIVERSITY ENDOWMENT IS TO GENERATE A STREAM OF EARNINGS TO SUPPORT CURRENT OPERATIONS UNDER AN INVESTMENT STRATEGY DESIGNED TO MAINTAIN, OR GROW, CORPUS VALUE IN REAL OR INFLATION ADJUSTED TERMS. THE BOARD OF TRUSTEES HAS ADOPTED A SPENDING PLAN WHEREBY THE UNIVERSITY UTILIZES 5% OF THE PRODUCT OF THE AVERAGE POOLED UNIT VALUE FOR THE 12 PRIOR QUARTERS ENDING DECEMBER 31 AND THE NUMBER OF POOLED UNITS ON HAND AT DECEMBER 31. UNIVERSITY SCHOLARSHIPS RECEIVE THE GREATEST SHARE OF THE ANNUAL ENDOWMENT DISTRIBUTION AT APPROXIMATELY 47%, FOLLOWED BY THE UNIVERSITY GENERAL FUND AT 40%. ENDOWMENT FUNDS ALSO SUPPORT ACADEMIC ENRICHMENT, FACULTY DEVELOPMENT, STUDENT LOANS, MARGIN OF EXCELLENCE PROGRAMS, AND NUMEROUS OTHER ACTIVITIES. PART X, LINE 2: THE UNIVERSITY IS A NONPROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE (IRC) AND IS GENERALLY EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(A) OF THE IRC. THE UNIVERSITY BELIEVES IT HAS TAKEN NO SIGNIFICANT UNCERTAIN TAX POSITIONS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE UNIVERSITY'S APPLICATION FORM CONTAINS A STATEMENT OF THE SCHOOL'S NONDISCRIMINATION POLICY, AS DO THE UNIVERSITY'S RECRUITING LITERATURE, UNIVERSITY CATALOGUE AND WEBSITE HOMEPAGE. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES STUDENT LOAN AND GRANT FUNDS FROM THE FEDERAL GOVERNMENT WHICH ARE DISBURSED TO STUDENTS BASED UPON FINANCIAL NEED ACCORDING TO FEDERAL GUIDELINES. 1 CENTRAL AMERICA & THE CARIBBEAN INVESTMENTS 77989125 SUB-SAHARAN AFRICA INVESTMENTS 1820247 EAST ASIA & THE PACIFIC PROGRAM SERVICES STUDY ABROAD AND FACULTY DEVELOPMENT 25116 EUROPE 1 5 PROGRAM SERVICES STUDY ABROAD AND FACULTY DEVELOPMENT 1030333 MIDDLE EAST AND NORTH AFRICA PROGRAM SERVICES STUDY ABROAD AND FACULTY DEVELOPMENT 2200 RUSSIA AND NEIGHBORING STATES PROGRAM SERVICES STUDY ABROAD AND FACULTY DEVELOPMENT 27848 CENTRAL AMERICA & THE CARIBBEAN GRANTMAKING GRANT TO AN ORGANIZATION 34378 SOUTH ASIA GRANTMAKING GRANT TO AN ORGANIZATION 33449 EAST ASIA AND THE PACIFIC GRANTMAKING SCHOLARSHIPS 2000 EUROPE (INCLUDING ICELAND & GREENLAND) GRANTMAKING SCHOLARSHIPS 87750 NORTH AMERICA PROGRAM SERVICES STUDY ABROAD AND FACULTY DEVELOPMENT 5990 1 5 0 0 1 5 80962696 95740 81058436 CENTRAL AMERICA & CARIBBEAN HUMANITARIAN 34378 CHECK 0 SOUTH ASIA HUMANITARIAN 33449 CHECK 0 2 0 SCHOLARSHIPS EAST ASIA & THE PACIFIC 1 2000 TUITION SCHOLARSHIP SCHOLARSHIPS EUROPE 97 87750 TUITION SCHOLARSHIP 1 0 1 1 1 0 PART I, LINE 2: NORWICH UNIVERSITY OFFERS FINANCIAL ASSISTANCE TO STUDENTS WHO ARE ACCEPTED TO PARTICIPATE IN APPROVED STUDY ABROAD PROGRAMS. IN ORDER TO QUALIFY FOR THE ASSISTANCE, A STUDENT MUST BE ENROLLED FULL-TIME, MUST HAVE ACHIEVED A SATISFACTORY GRADE POINT AVERAGE AT NORWICH UNIVERSITY AND MUST HAVE A DEMONSTRATED FINANCIAL NEED. THE OFFICE OF THE PROVOST, WITH ASSISTANCE FROM THE FINANCIAL AID OFFICE, SELECTS AND MONITORS THE PARTICIPANTS. THE UNIVERSITY IS PROVIDING FUNDING AND VOLUNTEER SUPPORT FOR A HEALTH POST AND BIRTHING CENTER IN NEPAL. THE UNIVERSITY IS PROVIDING HUMANITARIAN MEDICAL SUPPORT TO INDIVIDUALS IN COSTA RICA. PART III ACCOUNTING METHOD: BRIAN BILL GOLF TOURNAMENT 351755 188997 162758 13695 41400 31430 30675 FINS AND FEATHERS 361940 262741 99199 41899 69366 15793 106877 4 101955 33280 68675 3000 4630 27233 21095 1394 815650 485018 330632 3000 60224 137999 68318 138946 408487 -77855 1 VILLAGE OF NORTHFIELD 51 SOUTH MAIN STREET NORTHFIELD VT 05663 036000607 170(B)(1)(A)(V) 233970 0 N/A N/A EMERGENCY ASSISTANCE 1 0 SCHOLARSHIPS 3636 70997283 N/A N/A PART I, LINE 2: VIRTUALLY ALL UNIVERSITY FUNDED SCHOLARSHIPS ARE TIED TO THE STUDENTS' GRADE POINT AVERAGE (GPA) OR BASED UPON FINANCIAL NEED AS DETERMINED BY THE FREE APPLICATION FOR FEDERAL STUDENT AID (FAFSA). ANNUALLY, THE GPA AND NEED ARE REVIEWED TO DETERMINE COMPLIANCE WITH THE UNIVERSITY STANDARD. IF A STUDENT'S GPA FALLS BELOW THE MINIMUM REQUIREMENT, THE SCHOLARSHIP IS EITHER REMOVED OR REDUCED BY HALF. STUDENTS CAN APPEAL TO HAVE THE SCHOLARSHIP RESTORED IF THEIR GPA RETURNS TO THE REQUIRED LEVEL. NEED BASED SCHOLARSHIPS ARE CARRIED FORWARD EACH YEAR ONCE THE STUDENT HAS COMPLETED THE FAFSA. THE UNIVERSITY PROVIDES ASSISTANCE TO CERTAIN LOCAL GOVERNMENTAL AND NOT-FOR-PROFIT ORGANIZATIONS THAT PROVIDE CRITICAL INFRASTRUCTURAL SUPPORT TO THE UNIVERSITY. THE ASSISTANCE IS CONSIDERED A DONATION AND THE UNIVERSITY DOES NO FURTHER MONITORING OF THE USE OF THE FUNDS. X 1 1 X X X 0 0 0 0 0 0 0 1 1 1 MARK ANARUMO PRESIDENT 377072 0 0 0 6964 0 22865 0 55392 0 462293 0 0 0 PHILIP SUSMANN VP STRATEGIC PTNRSHP/PRES NUARI 0 272641 0 0 0 792 0 15881 0 28820 0 318134 0 0 FRANK VANECEK PROFESSOR OF INFORMATION TECH. 210074 0 0 0 3543 0 14773 0 1364 0 229754 0 0 0 MARTIN HANIFIN VP FOR ADMINISTRATION & FINANCE 189065 0 0 0 739 0 14493 0 14205 0 218502 0 0 0 HUW READ PROFESSOR OF INFORMATION SECURITY 171770 0 0 0 90 0 13243 0 30646 0 215749 0 0 0 GREGORY MATTHEWS VP ENROLLMENT MANAGEMENT 186268 0 0 0 703 0 12215 0 12312 0 211498 0 0 0 KAREN GAINES PROVOST 158006 0 15000 0 368 0 13226 0 16739 0 203339 0 0 0 HENRY COLLIER PROGRAM MANAGER 157140 0 0 0 52 0 12115 0 29886 0 199193 0 0 0 ELIZABETH KENNEDY VP DEVELOPMENT 191274 0 0 0 104 0 7182 0 592 0 199152 0 0 0 MICHAEL BATTIG PROFESSOR 152011 0 0 0 718 0 12093 0 33122 0 197944 0 0 0 DAVID WHALEY SECRETARY/SENIOR VP ADMINISTRATION 154576 0 0 0 2303 0 12256 0 26674 0 195809 0 0 0 MARCUS ELLIS PROGRAM DIRECTOR 165335 0 0 0 25 0 5065 0 24158 0 194583 0 0 0 WILLIAM CLEMENTS PROFESSOR 157185 0 0 0 1037 0 12582 0 11566 0 182370 0 0 0 GEORGE SILOWASH CHIEF INFORMATION SECURITY OFFICER 156110 0 0 0 83 0 7698 0 1340 0 165231 0 0 0 PART I, LINE 1A BOTH THE PRESIDENT AND THE COMMANDANT OF CADETS ARE PROVIDED HOUSING AS A CONDITION OF EMPLOYMENT, AND FOR THE CONVENIENCE OF THE EMPLOYER. THE VALUES OF HOUSING PROVIDED TO THE PRESIDENT AND TO THE COMMANDANT OF CADETS THROUGH DECEMBER 31, 2022 IN THE AMOUNTS OF $54,660 OF $20,460 RESPECTIVELY ARE INCLUDED IN FORM 990 AS PART OF THEIR NONTAXABLE BENEFITS. PART I, LINE 8 THE PRESIDENT ENTERED INTO AN INITIAL CONTRACT WITH THE UNIVERSITY EFFECTIVE JUNE 1, 2020 THROUGH MAY 31, 2023. A VERMONT EDUCATIONAL & HEALTH BUILDINGS FINANCING AGENCY 237154467 2017-12-28 60490068 REFINANCE 2008 CONSTRUCTION BONDS 0 0 0 B VERMONT EDUCATIONAL & HEALTH BUILDINGS FINANCING AGENCY 237154467 924166FP1 2013-12-23 24515000 CONSTRUCTION FINANCING 0 0 0 A 11290068 60490068 60490068 2009 1 0 1 1 B 4820000 24515000 516563 457908 22960299 580230 2014 0 0 1 1 A 0 1 1 1 0 0.02000 0.00000 0.02000 0 0 0 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 0 A 0 0 0 1 1 1 TD SECURITIES 30.000000000000 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 SCHEDULE K, PART IV, ARBITRAGE, LINE 2C: ISSUER NAME: VERMONT EDUCATIONAL & HEALTH BUILDINGS FINANCING AGENCY THE REBATE COMPUTATION WAS PERFORMED IN 2020. ISSUER NAME: VERMONT EDUCATIONAL & HEALTH BUILDINGS FINANCING AGENCY THE REBATE COMPUTATION WAS PERFORMED IN 2020. X 2 18000 APPRAISAL X 17 311248 FMV X PRIZES 172 136177 COST X SUPPLIES AND EQUIPMENT 18 45447 FMV 0 1 0 PART I, COLUMN (B): COLUMN (B) REPORTS THE NUMBER OF ITEMS CONTRIBUTED. PART I, LINE 1, PART III, LINE 1 NORWICH UNIVERSITY'S MISSION IS TO GIVE OUR YOUTH AN EDUCATION THAT SHALL BE AMERICAN IN CHARACTER - TO ENABLE THEM TO ACT AS WELL AS TO THINK - TO EXECUTE AS WELL AS TO CONCEIVE - "TO TOLERATE ALL OPINIONS WHEN REASON IS LEFT FREE TO COMBAT THEM" - TO MAKE MORAL, PATRIOTIC, EFFICIENT, AND USEFUL CITIZENS, AND TO QUALIFY THEM FOR ALL THOSE HIGH RESPONSIBILITIES RESTING UPON A CITIZEN OF THIS FREE REPUBLIC. NORWICH'S MISSION STATEMENT IS UNIQUE IN HIGHER EDUCATION. WE KNOW EXACTLY WHO WE ARE, WHY WE ARE HERE, AND WHERE WE ARE GOING. WE ARE ABLE TO BE VERY SPECIFIC: THE DISTINCTIVE TERMS AND PHRASES FOUND IN THIS MISSION STATEMENT PROVIDE IMPORTANT CLUES IN UNDERSTANDING THE ESSENCE OF THIS ORGANIZATION, AND ULTIMATELY THE DIRECTIONS WE WILL SEEK AND THE OUTCOMES WE WILL REQUIRE OF OUR STUDENTS. THE MOST DISTINGUISHING TERMS ARE: AMERICAN IN CHARACTER GLOBAL IN PERSPECTIVE MUTUAL RESPECT SERVICE THINKING AND ACTING CONCEIVING AND EXECUTING MAKING MORAL AND PATRIOTIC CITIZENS MAKING USEFUL CITIZENS QUALIFYING GRADUATES FOR RESPONSIBILITIES OF A FREE REPUBLIC THESE, AS WELL AS OTHER DISTINGUISHING OUTCOMES OF THE NORWICH EXPERIENCE ARE DISCUSSED BELOW: AMERICAN IN CHARACTER MEANS THAT WE TEACH STUDENTS TO UNDERSTAND AND HOLD DEAR THOSE VALUES AND PRINCIPLES UPON WHICH THIS FREE REPUBLIC WAS ESTABLISHED. THE AMERICAN EXPERIENCE WAS UNIQUE AND WORLD CHANGING IN ITS DEVELOPMENT. IT WAS BUILT UPON THE FUNDAMENTALS OF DEMOCRACY AND THE NOTION THAT PEOPLE HAVE INALIENABLE RIGHTS. WE WANT OUR STUDENTS TO KNOW THE PRINCIPLES AND THE EVENTS IN WHICH THESE PRINCIPLES MANIFESTED WHICH LEAD UP TO THE GREAT AMERICAN EXPERIMENT, THE HISTORY OF OUR SUCCESSFUL JOURNEY, AND THE REASONS WHY THE PRINCIPLES MANIFESTED IN THE BILL OF RIGHTS, THE CONSTITUTION, AND THE DECLARATION OF INDEPENDENCE ARE WORTH FIGHTING FOR. THROUGHOUT THE ENTIRE STUDENT EXPERIENCE, BOTH ACADEMIC AND EXTRACURRICULAR, WE TEACH THIS VALUE AND ENSURE THAT OUR STUDENTS UNDERSTAND ITS MEANING. GLOBAL IN PERSPECTIVE MEANS THAT OUR STUDENTS SHOULD UNDERSTAND THAT THE USA IS NOT ALONE IN THIS WORLD. THE WORLD IS A COMPLEX PLACE, AND CIVILIZATION AND ITS CULTURES ARE CONSTANTLY EVOLVING. DEFINING THE ENTIRE WORLD WITH AMERICAN VALUES DISTORTS THE REALITY OF A MULTICULTURAL PLANET AND LIMITS ONE'S PERSPECTIVE ON THE HISTORY OF MAN'S JOURNEY TO THE PRESENT TIME. BECAUSE AMERICA IS A LEADER IN THE WORLD, AND BECAUSE OUR STUDENTS ARE DESTINED TO BE LEADERS IN AMERICA, WE MUST UNDERSTAND AND RESPECT ALL POINTS OF VIEW AS PART OF GAINING THE WISDOM TO LEAD. THROUGHOUT THE ENTIRE STUDENT EXPERIENCE, BOTH ACADEMIC AND EXTRACURRICULAR, WE TEACH THIS VALUE AND ENSURE THAT OUR STUDENTS UNDERSTAND ITS MEANING. MUTUAL RESPECT, SOCIAL GRACES, AND POLITENESS. MUTUAL RESPECT IS A CORNERSTONE OF CIVILIZATION AND A FOUNDATION OF ACADEMIA. IT IS WHAT INITIATES A SALUTE; IT IS WHAT ALLOWS TWO PEOPLE TO APPRECIATE EACH OTHER FOR THE VALUE THAT THEY BRING TO THE RELATIONSHIP, NO MATTER HOW LASTING OR TEMPORARY THE RELATIONSHIP IS. IT IS COMMON HUMAN DECENCY, KINDNESS, AND A CORNERSTONE OF A CIVIL SOCIETY. MUTUAL RESPECT TURNS INTO LASTING FRIENDSHIP. ITS SUCCESSFUL BREEDING AT NORWICH UNIVERSITY IS A PRIMARY REASON WHY PEOPLE DEVELOP CLOSE RELATIONSHIPS WITH THOSE THEY OTHERWISE MIGHT NOT. IN ADDITION TO MUTUAL RESPECT, NORWICH STUDENTS AND GRADUATES ARE KNOWN FOR THEIR GRACE IN SOCIAL SITUATIONS AND THEIR POLITENESS. THE NORWICH ENVIRONMENT BREEDS THIS CHARACTERISTIC. THROUGHOUT THE ENTIRE STUDENT EXPERIENCE, BOTH ACADEMIC AND EXTRACURRICULAR, WE TEACH THESE VALUES AND ENSURE THAT OUR STUDENTS PRACTICE THEM. SERVICE IS AN INTEGRAL PART OF THE NORWICH EXPERIENCE. LEADERS SERVE, AND WE TRAIN LEADERS. WE SEEK TO INCULCATE THIS VALUE IN OUR STUDENTS, IN PART BY ENSURING THAT THEY DIRECTLY EXPERIENCE IT. EXPERIENCING "SERVICE TO OTHERS BEFORE SELF" IS A VITAL PART OF EACH STUDENT'S MATURATION PROCESS. STUDENTS TAKE WITH THEM FROM NORWICH THE EXPECTATION THAT SERVICE WILL BE A LIFELONG COMMITMENT. THROUGHOUT THE ENTIRE STUDENT EXPERIENCE, BOTH ACADEMIC AND EXTRA-CURRICULAR, WE TEACH THIS VALUE AND ENSURE THAT OUR STUDENTS EXPERIENCE IT. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF TRUSTEES AUDIT COMMITTEE REVIEWS AND COMMENTS ON THE FORM 990, INCLUDING SCHEDULE B, SCHEDULE OF CONTRIBUTORS, BEFORE IT IS FILED. AN ELECTRONIC COPY OF FORM 990, NOT INCLUDING SCHEDULE B, IS DISTRIBUTED TO ALL BOARD MEMBERS BEFORE THE RETURN IS FILED. A PAPER COPY OF THE SCHEDULE B, PHYSICALLY LOCATED ON THE UNIVERSITY CAMPUS, IS AVAILABLE FOR ANY BOARD MEMBER TO REVIEW ONCE THE MEMBERS OF THE AUDIT COMMITTEE COMPLETE THEIR INITIAL REVIEW. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY AND AFFIDAVIT IS DISTRIBUTED ANNUALLY TO BOARD OF TRUSTEES. THE COMPLETED AFFIDAVITS ARE RETURNED AND REVIEWED BY BOTH THE UNIVERSITY ADMINISTRATION AND THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES FOR CONFLICTS THAT COULD IMPAIR THE JUDGEMENT OF THE INDIVIDUALS. THE AUDIT COMMITTEE REPORTS THE RESULT OF THEIR REVIEW TO THE FULL BOARD DURING THE FALL MEETING. THE AUDIT COMMITTEE ASKS ANY TRUSTEE WITH A DISCLOSED CONFLICT OF INTEREST TO RECUSE THEMSELVES FROM BOARD CONVERSATIONS WHERE THE OUTCOME COULD AFFECT THE BUSINESS RELATIONSHIP WITH THE UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF OFFICERS AND SENIOR ADMINISTRATORS AT NORWICH UNIVERSITY IS SET BY THE PRESIDENT WITH THE ADVICE OF THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. THE PRESIDENT'S COMPENSATION IS SET BY THE BOARD OF TRUSTEES WITH THE ADVICE OF THE COMPENSATION COMMITTEE. THE PROCESS USED FOR THESE DECISIONS FOLLOWS THE GUIDELINES SUGGESTED BY THE IRS FOR COMPLIANCE WITH IRC SECTION 4958. THE PRIMARY FACTOR IN THESE DETERMINATIONS IS COMPENSATION BENCHMARKING FOLLOWING THE METHODS USED FOR ALL STAFF AT THE UNIVERSITY. BENCHMARK COMPENSATION DATA IS OBTAINED FROM AN ANNUAL COMPENSATION SURVEY OF HIGHER EDUCATION INSTITUTIONS CONDUCTED BY THE COLLEGE AND UNIVERSITY PROFESSIONAL ASSOCIATION FOR HUMAN RESOURCES (CUPA-HR). NORWICH UNIVERSITY COMPARES TO A SELECTED COMPENSATION COHORT FROM THIS SURVEY. THE CURRENT COHORT INCLUDES ALL RESPONSES FROM INSTITUTIONS WITH OPERATING BUDGETS IN THE RANGE OF $60 MILLION TO $140 MILLION THAT OFFER BOTH UNDERGRADUATE AND GRADUATE DEGREES. ABOUT 205 INSTITUTIONS INCLUDED IN THE SURVEY MEET THESE CRITERIA. FOR ALL STAFF AT NORWICH, A FACTOR BASED ON TIME IN THE CURRENT JOB LEVEL IS APPLIED TO THE BENCHMARK RATE FROM THE COMPENSATION SURVEY TO FIND AN EXPECTED MARKET RATE FOR EACH EMPLOYEE IN THE CURRENT POSITION. COMPENSATION INCREASES ARE PROPOSED TO ASSURE THAT EMPLOYEES ARE NOT BELOW A SPECIFIED PERCENTAGE OF THE EXPECTED MARKET RATE. CURRENTLY, THE MINIMUM IS 85%. IN ADDITION TO THE COMPENSATION BENCHMARK DATA, THE COMMITTEE CONSIDERS PERFORMANCE INFORMATION ON THE SENIOR ADMINISTRATORS PROVIDED BY THE PRESIDENT, AND THE RESULTS OF THE PERFORMANCE APPRAISAL OF THE PRESIDENT CONDUCTED BY THE BOARD. THE DIRECTOR OF HUMAN RESOURCES SERVES AS THE STAFF LIAISON TO THE COMPENSATION COMMITTEE. THE PROCESS WAS MOST RECENTLY UNDERTAKEN UPON HIRING OF THE NEW PRESIDENT. THE PRESIDENT'S COMPENSATION IS REVIEWED ANNUALLY. THE FORMAL CHARGE TO THE COMPENSATION COMMITTEE OF THE BOARD IS PRESENTED BELOW. COMPENSATION COMMITTEE THIS COMMITTEE WAS ESTABLISHED IN OCTOBER 2009 BASED ON THE WORK OF THE AD HOC COMPENSATION COMMITTEE, WHICH WAS ESTABLISHED ON JUNE 10, 2005. THE PRIMARY PURPOSE OF THIS COMMITTEE IS TO ENSURE THAT THE PRESIDENT AND OTHER HIGHLY COMPENSATED EMPLOYEES ARE COMPENSATED IN A WAY THAT IS CONSISTENT WITH PERFORMANCE, LONGEVITY, MARKET EQUITY, AND IN ACCORDANCE WITH CURRENT IRS RULES AND REGULATIONS, INCLUDING THE INTERMEDIATE SANCTIONS UNDER IRC SECTION 4958. THE COMMITTEE WILL REVIEW AND PROVIDE ADVICE TO THE PRESIDENT ON COMPENSATION ISSUES FOR THE OFFICERS AND SENIOR ADMINISTRATORS AND OTHER HIGHLY COMPENSATED INDIVIDUALS, REVIEW COMPENSATION BENCHMARKS AND STUDIES DONE BY INDEPENDENT ORGANIZATIONS, AND USE APPROPRIATE COMPARABLE DATA PRIOR TO MAKING THESE RECOMMENDATIONS TO THE PRESIDENT. IN ADDITION, THE COMMITTEE WILL MAKE A RECOMMENDATION TO THE FULL BOARD ON THE PRESIDENT'S COMPENSATION. DOCUMENTATION OF THE BOARD'S ACTIONS ARE TO BE CONSIDERED CONFIDENTIAL AND ARE TO REMAIN ON FILE WITH THE SECRETARY OF THE BOARD. COMMITTEES SHOULD USE APPROPRIATE IRS PROVIDED CHECKLISTS IN THEIR DECISION MAKING PROCESS AND DELIBERATIONS. THE DIRECTOR OF HUMAN RESOURCES WILL BE THE LIAISON. FORM 990, PART VI, SECTION C, LINE 19 NORWICH UNIVERSITY'S GOVERNING DOCUMENTS, FINANCIAL STATEMENTS, TAX FILINGS AND CONFLICT OF INTEREST POLICIES ARE AVAILABLE FOR REVIEW UPON REQUEST. THE NORWICH UNIVERSITY FORM 990 IS AVAILABLE FOR PUBLIC REVIEW AT WWW.GUIDESTAR.ORG. FORM 990, PART VII, SECTION A, SEQUENCE 2 MR. SUSMANN AVERAGES 4 HOURS PER WEEK AS THE NORWICH UNIVERSITY VICE PRESIDENT FOR STRATEGIC PARTNERSHIPS AND 36 HOURS PER WEEK AS THE NUARI PRESIDENT. NUARI PAYS ALL OF MR. SUSMANN'S WAGES AND REPORTS ALL OF HIS WAGES ON FORM W-2. NUARI, A CONTROLLED, TAX EXEMPT, 501(C)(3) ORGANIZATION, CHARGES BACK FOR THE TIME MR. SUSMANN DEVOTES TO NORWICH UNIVERSITY. FORM 990, PART XI, LINE 9: RELATED ENTITY REVENUES 5,032,512. RELATED ENTITY EXPENSES -4,608,324. CHANGE IN INTEREST RATE SWAP VALUATION 3,033,988. CHANGE IN SPLIT INTEREST AGREEMENTS 97,117. LOSS FROM BENEFICIAL INTEREST IN PERPETUAL TRUST -631,866. NORWICH UNIVERSITY APPLIED RESEARCH INSTITUTES PO BOX 30 NORTHFIELD VT 05663 061669185 APPLIED RESEARCH TO ENHANCE NATIONAL SECURITY VT 501(C)(3) 9 NORWICH UNIVERSITY 1 CHARITABLE REMAINDER UNITRUST CHARITABLE REMAIDER UNITRUST NY N/A T 0 CHARITABLE TRUST CHARITABLE TRUST VT N/A T 0 1 0 0 0 0 0 0 0 0 1 0 1 1 0 1 1 0 0 0 NORWICH UNIVERSITY APPLIED RESEARCH INSTITUTES J 141473 CASH NORWICH UNIVERSITY APPLIED RESEARCH INSTITUTES P 7200 CASH CHARITABLE TRUST A 388405 CASH NORWICH UNIVERSITY APPLIED RESEARCH INSTITUTES L 182234 CASH NORWICH UNIVERSITY APPLIED RESEARCH INSTITUTES M 1926529 CASH NORWICH UNIVERSITY APPLIED RESEARCH INSTITUTES O 46464 CASH