2024-05-14T14:26:14-05:00 2023-06-30 135565207 KPMG LLP 345 PARK AVENUE NEW YORK NY 101540102 990 2022-07-01 060646623 FAIRFIELD UNIVERSITY FAIR 2032544000 1073 NORTH BENSON ROAD FAIRFIELD CT 06824 MICHAEL TRAFECANTE VP FOR FIN, CFO & TREASURER 2032544000 2024-05-14 1 MICHAEL TRAFECANTE 999009999 0 TOBY RUTH FRIEDMAN KERSLAKE P01875806 2127589700 2024-05-13 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z MARK R NEMEC PHD 1073 NORTH BENSON ROAD FAIRFIELD CT 06824 512100674 0 X WWW.FAIRFIELD.EDU X 1942 CT TO DEVELOP THE CREATIVE INTELLECTUAL POTENTIAL OF ITS STUDENTS, SEE SCHEDULE O. 32 31 3725 600 344977 453170 52721702 30180533 340521028 370160726 22131718 23329624 519533 857153 415893981 424528036 105436777 112544567 0 0 144130534 156882611 167437 147139 9995378 104681833 115172259 354416581 384746576 61477400 39781460 1095002497 1146008194 371263577 368291521 723738920 777716673 X A FAIRFIELD UNIVERSITY EDUCATION HAS BECOME MORE INTEGRATED IN FOCUS, MORE GLOBAL IN OUTLOOK, AND MORE INTERNATIONAL IN ITS STRUCTURE THAN EVER BEFORE IN THE JESUIT TRADITION. SEE SCHEDULE O. 0 0 268694535 112544567 303278859 HIGHER LEARNING: FAIRFIELD UNIVERSITY IS AN INSTITUTE OF HIGHERLEARNING WITH UNDERGRADUATE, GRADUATE, DOCTORATE AND CONTINUINGEDUCATION ACADEMIC PROGRAMS INCLUDING STUDENTS RESIDING ON CAMPUS ANDINCLUDES A COLLEGE PREPARATORY SCHOOL. SEE SCHEDULE O. 48215897 60445217 AUXILIARY SERVICES: AUXILIARY SERVICES INCLUDE THE COSTS OF ROOM ANDBOARD FOR APPROXIMATELY 3,584 FULL-TIME UNDERGRADUATE STUDENTS LIVINGON CAMPUS IN RESIDENCE HALLS, TOWNHOUSES, AND APARTMENT COMPLEXESRESIDING ON A 200 ACRE CAMPUS. GRADUATE STUDENT HOUSING IS ALSO OFFERED IN INDEPENDENT OFF-CAMPUS HOUSES, AND IN APARTMENT STYLE RESIDENCE HALLS. 3115540 6191050 OTHER ACTIVITIES: A VARIETY OF STUDENT SERVICES INCLUDING ARTS AND ENTERTAINMENT AT THE QUICK CENTER, STUDENT ACTIVITIES FOR CLUB SPORTS, AND OTHER ITEMS. 320025972 1 1 0 1 0 0 1 1 0 1 1 1 0 0 1 1 1 0 1 1 1 0 1 1 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 1 7569 0 1 3725 1 1 1 1 IT UK 0 0 0 1 1 0 0 0 0 0 0 X 32 31 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CT X MICHAEL TRAFECANTE 2032544000 1073 NORTH BENSON ROAD FAIRFIELD CT 06824 MARK R NEMEC PHD PRESIDENT 45.00 0.00 X X 731563 0 126390 NANCY A ALTOBELLO TRUSTEE 5.00 0.00 X 0 0 0 REV JOHN F BALDOVIN SJ TRUSTEE 1.00 0.00 X 0 0 0 MAUREEN ERRITY BUJNO TRUSTEE (AS OF 7-1-2022) 1.00 0.00 X 0 0 0 KEVIN P CANNON TRUSTEE 5.00 0.00 X 0 0 0 FRANK J CARROLL III TRUSTEE 5.00 0.00 X 0 0 0 JORGE A CHILUISA TRUSTTE 1.00 0.00 X 0 0 0 WILLIAM C CRAGER TRUSTEE 1.00 0.00 X 0 0 0 MARY RYAN CUNNINGHAM TRUSTEE 1.00 0.00 X 0 0 0 SHEILA KEARNEY DAVIDSON TRUSTEE 5.00 0.00 X 0 0 0 HUGH DAVIS TRUSTEE (AS OF 7-1-2022) 1.00 0.00 X 0 0 0 CHRISTOPHER C DESMARAIS TRUSTEE 5.00 0.00 X 0 0 0 THOMAS J FANNING SR TRUSTEE 1.00 0.00 X 0 0 0 LISA M FERRARO TRUSTEE 1.00 0.00 X 0 0 0 PATRICIA E GLASSFORD TRUSTEE 1.00 0.00 X 0 0 0 DOUGLAS W HAMMOND TRUSTEE 1.00 0.00 X 0 0 0 BRIAN P HULL TRUSTEE 5.00 0.00 X 0 0 0 REV GREGORY KALSCHEUR SJ TRUSTEE 1.00 0.00 X 0 0 0 DAGAN T KASAVANA TRUSTEE 1.00 0.00 X 0 0 0 STEPHEN M LESSING TRUSTEE 1.00 0.00 X 0 0 0 CLINTON A LEWIS JR TRUSTEE 1.00 0.00 X 0 0 0 SHELAGH MAHONEY-MCNAMEE TRUSTEE 1.00 0.00 X 0 0 0 JOHN C MEDITZ TRUSTEE 5.00 0.00 X 0 0 0 ELNER L MORRELL TRUSTEE 1.00 0.00 X 0 0 0 ROBERT J MURPHY JR TRUSTEE 5.00 0.00 X 0 0 0 PHILLIP J NEUGEBAUER TRUSTEE 1.00 0.00 X 0 0 0 GAVIN G O'CONNOR TRUSTEE 1.00 0.00 X 0 0 0 BIFF J O'REILLY TRUSTEE 5.00 0.00 X 0 0 0 REV MARIO M POWELL SJ TRUSTEE 1.00 0.00 X 0 0 0 REV STEPHEN A PRIVETT SJ TRUSTEE 5.00 0.00 X 0 0 0 CHRISTOPHER C QUICK TRUSTEE 1.00 0.00 X 0 0 0 ROSELLEN WALSH SCHNURR TRUSTEE 5.00 0.00 X 0 0 0 MICHAEL TRAFECANTE VP FOR FINANCE, CFO & TREASURER 45.00 0.00 X 347370 0 141210 KRISTINE CARROLL SECRETARY 45.00 0.00 X 74708 0 53770 JOANNE WILLIAMS SR VP OF FINANCE & ADMIN 45.00 0.00 X 322286 0 44603 DAVID FRASSINELLI VICE PRESIDENT OF FACILITIES 45.00 0.00 X 240005 0 54109 CHRISTINE SIEGEL PROVOST & SR VP ACADEMICS 45.00 0.00 X 419943 0 74559 RICHARD GREENWALD DEAN, SCHOOL OF CAS 45.00 0.00 X 250081 0 69263 WALTER HALAS VP OF ADVANCEMENT 45.00 0.00 X 401215 0 65426 JOHN YOUNG HEAD MBB COACH 45.00 0.00 X 437649 0 63459 ZHAN LI DEAN, SCHOOL OF BUSINESS 45.00 0.00 X 401490 0 50425 PAUL SCHLICKMANN DIRECTOR OF ATHLETICS 45.00 0.00 X 355107 0 77030 CORRY UNIS VP FOR ENROLLMENT MANAGEMENT 45.00 0.00 X 309316 0 72368 KEVIN LAWLOR FORMER EXEC. VICE PRESIDENT 0.00 0.00 X 364176 0 2000 4654909 0 894612 325 1 1 0 GLIBANE BUILDING COMPANY 7 JACKSON WALKWAY PROVIDENCE RI 02903 CONSTRUCTION 45090330 ARAMARK SERVICES INC 27310 NETWORK PLACE CHICAGO IL 60673 DINING SERVICE 17823436 PAC GROUP LLC 126 SOUTH MAIN STREET TORRINGTON CT 06790 CONSTRUCTION 9202202 ACCENTURE LLP 500 W MADISON STREET CHICAGO IL 60661 CONSULTING 7450000 ABM INDUSTRY GROUP LLC 14141 SOUTHWEST FREEWAY SUITE 400 SUGAR LAND TX 77478 JANITORIAL 4937791 159 1139621 2913414 26127498 5049735 30180533 TUITION & FEES 611600 303278859 303278859 AUXILIARY SERVICES 721000 60445217 60445217 OTHER PROGRAM SERVICES 900099 6191050 6191050 SUMMER CONFERENCES 900099 245600 168766 76834 370160726 14354732 460923 13893809 1357736 634643 723093 723093 -192780 915873 95394637 107455 85165947 1361253 10228690 -1253798 8974892 8974892 544855 1139621 410795 134060 134060 424528036 370083892 344977 23918634 109555663 109555663 2988904 2988904 5577980 3078464 1592799 906717 111847181 88335772 18624320 4887089 7317415 5782807 1214680 319928 24344072 19238635 4041079 1064358 7795963 6002648 1419453 373862 1427540 541623 885917 403339 403339 147139 147139 158946 158946 26600426 22251173 3346093 1003160 2859832 2624446 196203 39183 6784934 4508096 1850474 426364 6297959 1514489 4589327 194143 11041840 11041840 4879406 4195363 529366 154677 516401 400188 103169 13044 12244846 10642156 1579883 22807 25257729 17749575 7368490 139664 2146049 393804 1752245 MAINTENANCE & EQUIPMENT 7688301 2679812 4946080 62409 STUDY ABROAD 3613883 3613500 120 263 CONSULTANTS & HONORARIA 2723068 1064666 1439764 218638 LIBRARY ACQUISITIONS 1047806 1021510 4363 21933 -520046 800838 -1320884 384746576 320025972 54725226 9995378 1021 699 95675587 66519601 36651642 31314689 2609798 1698263 0 0 0 0 0 0 0 0 0 0 878760513 327162639 495974441 551597874 322223935 358571142 83158606 94526291 0 0 0 0 58707467 41779635 1095002497 1146008194 60653175 63366623 533207 216637 12202999 16206331 297048684 287665627 0 0 0 0 0 0 0 0 825512 836303 371263577 368291521 X 375358221 447954021 348380699 329762652 723738920 777716673 1095002497 1146008194 X 39781460 14407948 -211655 X 0 1 X 1 1 1 X 31852407 42763677 25478475 52721702 30180533 182996794 31852407 42763677 25478475 52721702 30180533 182996794 16932245 166064549 7971642 14130651 8353986 6494202 15251545 52202026 50424 453170 503594 174945 36496 46927 409189 544855 1212412 236914826 1600370068 0.70090 0.70770 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS INCOME FROM FUNDRAISING EVENTS - 2018 AMOUNT: $ 174,945. 2019 AMOUNT: $ 36,496. 2020 AMOUNT: $ 46,927. 2021 AMOUNT: $ 409,189. 2022 AMOUNT: $ 544,855. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 0 0 1 38 38 0 PART II-B, LINE 1: FAIRFIELD UNIVERSITY MAY INDIRECTLY INCUR LOBBYING EXPENSE THROUGH DUES PAID TO OTHER ORGANIZATIONS. X 9 30.00 2 0 1 1 65.00 42500 0 0 0 X X X X 0 407344987 8359383 34214939 4989938 11207352 112890 433609129 464604164 6900055 -51712704 4392904 7940015 113609 407344987 357051925 5229014 118628213 4158615 11999924 146449 464604164 382450518 1402417 -15169929 4530960 6958998 141123 357051925 371182676 8226618 14081047 4407492 6465466 166865 382450518 0.37879 0.62121 0 0 9108009 9108009 711117396 237206654 473910742 5065586 171545 4894041 99556310 79708825 19847485 53913212 10075615 43837597 551597874 PRIVATE EQUITY AND OTHER 53353178 F HEDGE FUNDS OF FUNDS 41173113 F 94526291 CAPITAL LEASES 836303 836303 X 327066254 14407948 -111710784 -97302836 424369090 158946 158946 424528036 273088501 -111499129 -111499129 384587630 158946 158946 384746576 PART III, LINE 1A: SFAS 116 (ASC 958) FOOTNOTE THE ART COLLECTIONS ARE DONATED TO THE UNIVERSITY AND NOT RECOGNIZED IN THE ASSETS OF THE BALANCE SHEET. THE AUDITED FINANCIAL STATEMENTS DO NOT HAVE A FOOTNOTE REGARDING THE COLLECTIONS. PART III, LINE 4: ORGANIZATION'S COLLECTION THE ART COLLECTIONS ARE AN IMPORTANT CULTURAL RESOURCE OF THE UNIVERSITY, PROVIDING ARTS AND ACADEMIC ENRICHMENT TO THE STUDENTS, FACULTY, LOCAL COMMUNITY, AND INTERNATIONAL SCHOLARLY COMMUNITY. THE COLLECTIONS ARE HOUSED AT THE FAIRFIELD UNIVERSITY ART MUSEUM'S THOMAS J WALSH ART GALLERY, THE BELLARMINE HALL GALLERIES AND AT VARIOUS LOCATIONS ON CAMPUS. THE COLLECTIONS AREA OF THE MUSEUM'S WEBSITE PROVIDES DIGITAL ACCESS TO THESE WORKS OF ART, AND PROVIDES ART HISTORICAL AND TECHNICAL INFORMATION ABOUT THESE OBJECTS. THE FAIRFIELD UNIVERSITY ART MUSEUM IS DEDICATED TO PRESERVING, STUDYING, AND EXHIBITING THOSE OBJECTS ENTRUSTED TO ITS CARE, WHILE NEVER LOSING SIGHT OF ITS OBLIGATION TO EDUCATE AND INSPIRE ITS MANY AUDIENCES, FOR THE GREATER ENRICHMENT OF ALL. THE MUSEUM IS OPEN TO THE PUBLIC AND FREE OF CHARGE. PART V, LINE 4: THE UNIVERSITY'S ENDOWMENT IS AN AGGREGATION OF GIFTS PROVIDED BY DONORS WITH THE REQUIREMENT THE GIFTS BE HELD IN PERPETUITY TO GENERATE EARNINGS NOW AND IN FUTURE YEARS TO SUPPORT THE UNIVERSITY'S PROGRAMS OF INSTRUCTION, RESEARCH AND PUBLIC SERVICE AND FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENT. EARNINGS FROM ENDOWMENT INVESTMENTS SUPPORT SCHOLARSHIPS, CHAIRS, PROFESSORSHIPS, FELLOWSHIPS, BASIC RESEARCH, AS WELL AS ACADEMIC AND PUBLIC SERVICE PROGRAMS. THE ENDOWMENT SHOULD PROVIDE STABILITY SINCE THE PRINCIPAL IS INVESTED AND EARNINGS ARE GENERATED YEAR AFTER YEAR. NET ASSETS ASSOCIATED WITH ENDOWMENT FUNDS, INCLUDING FUNDS DESIGNATED BY THE BOARD OF TRUSTEES TO FUNCTION AS ENDOWMENTS, ARE CLASSIFIED AND REPORTED BASED ON THE EXISTENCE OR ABSENCE OF DONOR-IMPOSED RESTRICTIONS. PART X, LINE 2: THE UNIVERSITY IS A NOT-FOR-PROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND IS GENERALLY EXEMPT FROM INCOME TAXES ON RELATED INCOME PURSUANT TO SECTION 501(A) OF THE CODE. THE UNIVERSITY RECOGNIZES THE EFFECTS OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT OF BEING SUSTAINED. THE UNIVERSITY EVALUATES, ON AN ANNUAL BASIS, THE EFFECTS OF ANY UNCERTAIN TAX POSITIONS ON ITS FINANCIAL STATEMENTS. AS OF JUNE 30, 2023 AND 2022, THE UNIVERSITY HAS NOT IDENTIFIED OR PROVIDED FOR ANY SUCH POSITIONS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 634,643. FUNDRAISING EXPENSE 410,795. STUDENT FINANCIAL AID -112,544,567. SPLIT INTEREST ADJUSTMENT -211,655. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EXPENSE 410,795. STUDENT FINANCIAL AID -112,544,567. RENTAL EXPENSE 634,643. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 SEE SUPPLEMENTAL PAGE PART I, LINE 3 FAIRFIELD UNIVERSITY ADMITS STUDENTS OF ANY SEX, RACE, COLOR, MARITAL STATUS, SEXUAL ORIENTATION, RELIGION, AGE, NATIONAL ORIGIN OR ANCESTRY, DISABILITY OR HANDICAP TO ALL THE RIGHTS, PRIVILEGES, PROGRAMS, AND ACTIVITIES GENERALLY ACCORDED OR MADE AVAILABLE TO STUDENTS OF THE UNIVERSITY. IT DOES NOT DISCRIMINATE ON THE BASIS OF SEX, RACE, COLOR, MARITAL STATUS, SEXUAL ORIENTATION, GENDER IDENTITY, VETERAN'S STATUS, POLITICAL IDEOLOGY, RELIGION, AGE, NATIONAL ORIGIN OR ANCESTRY, DISABILITY OR HANDICAP IN ADMINISTRATION OF ITS EDUCATIONAL POLICIES, ADMISSIONS POLICIES, EMPLOYMENT POLICIES, SCHOLARSHIP AND LOAN PROGRAMS, ATHLETIC PROGRAMS, OR OTHER UNIVERSITY-ADMINISTERED PROGRAMS. THIS INFORMATION IS OUTLINED ON FAIRFIELD UNIVERSITY'S PUBLIC WEBSITE. PART I, LINE 6 FAIRFIELD UNIVERSITY RECEIVES GRANTS, AWARDS AND FINANCIAL ASSISTANCE FOR ITS STUDENTS FROM VARIOUS GOVERNMENTAL AGENCIES. THE UNIVERSITY HAS ALWAYS BEEN IN GOOD STANDING AND THE RIGHT TO RECEIVE SUCH AID HAS NEVER BEEN REVOKED OR SUSPENDED. 1 EUROPE (INCLUDING ICELAND AND GREENLAND) 2 5 PROGRAM SERVICES STUDY ABROAD PROGRAM 3751210 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAM 61018 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING 932643 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 GRANTMAKING 1151096 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTMAKING 54920 NORTH AMERICA 0 0 GRANTMAKING 441502 RUSSIA AND THE NEWLY INDEPENDENT STATES 0 0 GRANTMAKING 47600 SOUTH AMERICA 0 0 GRANTMAKING 124179 SOUTH ASIA 0 0 GRANTMAKING 196175 SUB-SAHARAN AFRICA 0 0 GRANTMAKING 40789 EUROPE 0 0 INVESTMENTS 9453324 CENTRAL AMERICA 0 0 INVESTMENTS 70924339 2 5 0 0 2 5 6564168 80614627 87178795 SCHOLARSHIP EAST ASIA AND THE PACIFIC 22 932643 SCHOLARSHIP EUROPE (INCLUDING ICELAND & GREENLAND) 26 1151096 SCHOLARSHIP NORTH AMERICA 9 441502 SCHOLARSHIP SOUTH AMERICA 3 124179 SCHOLARSHIP SOUTH ASIA 4 196175 SCHOLARSHIP SUB-SAHARAN AFRICA 1 40789 SCHOLARSHIP MIDDLE EAST AND NORTH AFRICA 1 54920 SCHOLARSHIPS RUSSIA AND THE NEWLY INDEPENDENT STATES 1 47600 1 0 1 1 1 1 PART III ACCOUNTING METHOD: PART I, LINE 1 THE UNIVERSITY HAS IN PLACE INTERNAL CONTROLS TO ENSURE AMOUNTS ARE AWARDED TO STUDENTS WHO CONTINUE TO MEET & MAINTAIN ELIGIBILITY REQUIREMENTS. THESE INTERNAL CONTROLS ARE ADMINISTRATED BY THE UNIVERSITY'S FINANCIAL AID OFFICE. PART 1, LINE 3 STUDY ABROAD PROGRAMS AND GRANTMAKING ARE REPORTED ON THE ACCRUAL METHOD. INVESTMENTS ARE REPORTED AT FAIR MARKET VALUE. SCHEDULE F - GRANTMAKING THE UNIVERSITY OFFERS FINANCIAL ASSISTANCE IN THE FORM OF LOANS, GRANTS, EMPLOYMENT (WORK STUDY) AND SCHOLARSHIPS. THE AWARDS ARE AWARDED TO STUDENTS MEETING CERTAIN ELIGIBILITY REQUIREMENTS. THE PROGRAMS ARE ADMINISTERED BY THE FINANCIAL AID OFFICE. X X X X X X 1 GIVECAMPUS INC 903 G ST SE WASHINGTON DC 20003 EXTERNAL WEBSITE 0 163973 35066 128907 GREATER GIVING 1920 NE STUCKI AVE SUITE 140 HILLSBORO OR 97006 EXTERNAL WEBSITE 0 163211 2195 161016 TOSKR INC 9450 SW GEMINI DRIVE BEAVERTON OR 97008 EXTERNAL COMMUNICATIONS 0 0 5784 -5784 COMMUNITY COUNSELLING 527 MADISON AVENUE 5TH FLOOR NEW YORK NY 10022 CAMPAIGN CONSULTING 0 0 137000 -137000 327184 180045 147139 CT FL NJ NY AWARDS DINNER 1356777 1051321 305456 26967 199399 77942 PREP AUCTION 263092 88000 175092 27418 20051 7753 1 64607 300 64307 47077 4188 1684476 1139621 544855 101462 219450 89883 410795 134060 SCHEDULE G, PART I- PROFESSIONAL FUNDRAISING SERVICES - COMMUNITY COUNSELING SERVICES, A STRATEGIC FUNDRAISING FIRM, PROVIDED ON-SITE TRAININGS TO FAIRFIELD UNIVERSITY IN-HOUSE PERSONNEL ON FUNDRAISING STRATEGIES, PLANNING, MANAGING, AS WELL AS IMPLEMENTING PROGRAMS THAT ACHIEVE FUNDRAISING GOALS. THE UNIVERSITY IS UNABLE TO DETERMINE THE GROSS RECEIPTS FROM THESE ACTIVITIES. - GREATER GIVING AND GIVECAMPUS: PROVIDES AN ON-LINE PLATFORM USED AS PART OF THE UNIVERSITY'S ANNUAL FUNDRAISING ACTIVITIES. - TOSKR: A TEXT MESSAGING SERVICE USED IN FUNDRAISING. THE UNIVERSITY IS UNABLE TO DETERMINE THE GROSS RECEIPTS FROM THESE ACTIVITIES. SCHEDULE G, PART III- STATES REGISTERED THE UNIVERSITY IS REGISTERED IN CT, NY, NJ AND FL FOR THE SOLICITATION OF CONTRIBUTIONS THROUGH CHARITABLE GIFT ANNUITIES. 1 INSTITUTIONAL SCHOLARSHIPS 6702 93192303 0 ATHLETIC SCHOLARSHIPS 316 6817527 0 STATE AND FEDERAL GRANTS 255 727290 0 PREP SCHOOL FINANCIAL AID 337 3735506 0 OTHER FINANCIAL AID 647 5083037 0 PART I, LINE 2: THE UNIVERSITY OFFERS FINANCIAL ASSISTANCE IN THE FORM OF LOANS, GRANTS, EMPLOYMENT (WORK STUDY) AND SCHOLARSHIPS. THE AWARDS ARE AWARDED TO STUDENTS MEETING CERTAIN ELIGIBILITY REQUIREMENTS. THE PROGRAMS ARE ADMINISTERED BY THE FINANCIAL AID OFFICE WHICH HAS VARIOUS INTERNAL CONTROLS IN PLACE TO MONITOR THE AMOUNT OFFERED TO STUDENTS. AN ANNUAL UNIFORM GUIDANCE AUDIT IS CONDUCTED FOR THE FINANCIAL AID PROGRAMS AND THE FISAP REPORT IS PREPARED ANNUALLY FOR THE DEPARTMENT OF EDUCATION. AMOUNTS OF AID AWARDED ARE CREDITED TO STUDENT ACCOUNTS AND NOT SENT DIRECTLY TO THE STUDENT. X X 1 1 X X X X 1 0 0 0 0 0 0 1 0 MARK R NEMEC PHD PRESIDENT 549523 0 146200 0 35840 0 27450 0 98940 0 857953 0 0 0 JOHN YOUNG HEAD MBB COACH 434778 0 0 0 2871 0 27450 0 36009 0 501108 0 0 0 CHRISTINE SIEGEL PROVOST & SR VP ACADEMICS 343076 0 76867 0 0 0 27450 0 47109 0 494502 0 0 0 MICHAEL TRAFECANTE VP FOR FINANCE, CFO & TREASURER 285180 0 62190 0 0 0 25311 0 115899 0 488580 0 0 0 WALTER HALAS VP OF ADVANCEMENT 323452 0 72000 0 5763 0 27450 0 37976 0 466641 0 0 0 ZHAN LI DEAN, SCHOOL OF BUSINESS 331416 0 65867 0 4207 0 27450 0 22975 0 451915 0 0 0 PAUL SCHLICKMANN DIRECTOR OF ATHLETICS 291057 0 61250 0 2800 0 27009 0 50021 0 432137 0 0 0 CORRY UNIS VP FOR ENROLLMENT MANAGEMENT 249072 0 60244 0 0 0 23140 0 49228 0 381684 0 0 0 JOANNE WILLIAMS SR VP OF FINANCE & ADMIN 318374 0 0 0 3912 0 25855 0 18748 0 366889 0 0 0 KEVIN LAWLOR FORMER EXEC. VICE PRESIDENT 0 0 0 0 364176 0 0 0 2000 0 366176 0 0 0 RICHARD GREENWALD DEAN, SCHOOL OF CAS 239081 0 11000 0 0 0 22172 0 47091 0 319344 0 0 0 DAVID FRASSINELLI VICE PRESIDENT OF FACILITIES 204094 0 35911 0 0 0 18840 0 35269 0 294114 0 0 0 PART I, LINE 1A THE PRESIDENT RESIDES IN A HOUSE THAT WAS DONATED TO THE UNIVERSITY SPECIFICALLY FOR THE PRESIDENT'S USE. THE HOUSE IS USED FOR UNIVERSITY EVENTS. THE PRESIDENT LIVES IN THE HOUSE FOR THE CONVENIENCE OF THE UNIVERSITY. ALL AMOUNTS ARE INCLUDED IN NON-TAXABLE BENEFITS IN COLUMN D OF SCHEDULE J, PART II, COLUMN (D). THE UNIVERSITY PROVIDES AN APARTMENT FOR USE BY THE DEAN OF THE SCHOOL OF BUSINESS. ALL AMOUNTS ARE INCLUDED IN TAXABLE INCOME. HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES: THE PRESIDENT RECEIVED MEMBERSHIP TO A CLUB FOR THE PURPOSE OF ENTERTAINING POTENTIAL DONORS. ALL AMOUNTS ARE INCLUDED IN TAXABLE INCOME. PART I, LINE 4A KEVIN LAWLOR RECIEVED A SEVERANCE PAYMENT OF $364,176. PART I, LINE 7 VARIOUS MEMBERS OF MANAGEMENT WERE AWARDED A PERFORMANCE BONUS BASED ON SUCCESSFUL ATTAINMENT OF PERFORMANCE BASED OBJECTIVES. A CHEFA 2016 SERIES Q-1 060806186 20774YYR2 2016-02-25 53583942 CONSTRUCTION OF VARIOUS CAMPUS FACILITIES 0 0 0 B CHEFA 2016 SERIES Q-2 060806186 20774YZH3 2016-03-30 20006907 PARTIALLY REFUND CHEFA SERIES 2008 0 0 0 C CHEFA 2017 SERIES R 060806186 20774Y3B1 2017-12-20 121950419 REFUND CHEFA SERIES O; CONSTRUCTION 0 0 0 D CHEFA 2018 SERIES S 060806186 20774Y3Y1 2018-04-04 75309545 REFUND CHEFA SERIES M & N 0 0 0 A 53583942 3138393 525083 49920466 2018 0 0 1 1 B 5115000 20006907 291476 19715431 2016 0 1 1 1 C 121950419 808952 40000000 81141467 2019 0 1 1 1 D 21690000 75309545 554389 74755156 2018 1 0 1 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 1 1 1 1 0.00080 0.00000 0.00080 0 0 1 C 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 D 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 C 0 0 0 1 0 0 0 0 1 D 0 0 0 1 0 0 0 0 1 A 1 B 1 C 1 D 1 SCHEDULE K, PART II, LINE 11 CHEFA 2016 SERIES Q-2 BOND: THE OTHER SPENT PROCEEDS WERE USED TO ADVANCE REFUND A PORTION OF THE SERIES M BOND ISSUE. CHEFA 2017 SERIES R BOND: THE OTHER PROCEEDS WERE USED TO REFUND SERIES O. THE REMAINING $40 MILLION WAS USED FOR THE CONSTRUCTION OF NEW JR/SR TOWNHOUSES AND RENOVATIONS OF OTHER CAMPUS FACILITIES. CHEFA 2018 SERIES S BOND: THE OTHER SPEND PROCEEDS WERE USED TO CURRENTLY REFUND THE 2008 SERIES M AND SERIES N BOND ISSUES. CHEFA 2020 SERIES T BOND: THE OTHER SPENT PROCEEDS WERE USED TO REFUND THE 2010 SERIES P BOND SERIES. PART III, LINE 3A ALL MANAGEMENT AND SERVICE CONTRACTS IN BOND FINANCED SPACE HAVE BEEN PREVIOUSLY REVIEWED BY BOND COUNSEL. THEY WERE DETERMINED TO FALL UNDER THE SAFE HARBOR PROVIDED BY REVENUE PROCEDURE 2007-17 AND WILL NOT RESULT IN PRIVATE BUSINESS USE. PART III, LINE 3C RESEARCH AGREEMENTS: RESEARCH AGREEMENTS RELATING TO THE BONDS ISSUE Q2 HAVE BEEN REVIEWED BY BOND COUNSEL TO ENSURE THEY ARE COMPLIANT WITH THE APPLICABLE SAFE HARBORS. THE RESEARCH AGREEMENTS DID NOT RESULT IN ANY PRIVATE BUSINESS USE. PART IV, LINE 2C THE DATE OF MOST RECENT REBATE CALCULATION FOR THE CHEFA 2016 SERIES Q-1 WAS FEBRUARY 25, 2021. THE DATE OF THE MOST RECENT REBATE CALCULATION FOR THE CHEFA 2016 Q-2 WAS MARCH 30, 2021. THE DATE OF THE MOST RECENT REBATE CALCULATION FOR THE CHEFA 2017 SERIES R BOND WAS DECEMBER 20, 2022. THE DATE OF THE MOST RECENT REBATE CALCULATION FOR THE CHEFA 2018 SERIES S BOND WAS APRIL 4, 2023. A CHEFA 2020 SERIES T 060806186 20775DHWS 2020-09-10 28063429 REFUND CHEFA SERIES P, CONSTRUCTION 0 0 0 B CHEFA 2022 SERIES U 060806186 20775DSTO 2022-03-17 30469568 SERIES U CONSTRUCTION 0 0 0 A 2045000 28063429 489189 16068221 6949859 4556160 1 0 0 1 B 30469568 469568 20440807 9559193 0 0 0 1 A 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 1 1 0 0.00000 0.00000 0.00000 0 0 1 A 0 1 0 0 0 0 0 0 1 B 0 1 0 0 0 0 0 0 1 A 1 B 1 22000 MERIT SCHOLARSHIPS TUITION ASSISTANCE 14000 SCHOLARSHIPS TUITION ASSISTANCE X 348 0 APPRAISALS X 60 4981885 FMV X GIK 3 67850 FMV 3 0 0 0 PART I, LINE 1, COLUMN (C) WORKS OF ART FAIRFIELD UNIVERSITY DOES NOT REPORT AN APPRAISED VALUE FOR WORK OF ARTS IN ITS AUDITED FINANCIAL STATEMENTS. PART I, PART I, COLUMN B THE NUMBER IN SCHEDULE M, PART I, COLUMN B REPRESENTS THE NUMBER OF ITEMS CONTRIBUTED. PART III, LINE 1 THE PURPOSE OF FAIRFIELD UNIVERSITY IS TO ESTABLISH, ORGANIZE, MAINTAIN AND CONDUCT AN INSTITUTION FOR INTERMEDIATE, SECONDARY, UNDERGRADUATE AND GRADUATE EDUCATION IN THE STATE OF CONNECTICUT, AND TO PERFORM SUCH OTHER WORKS OF EDUCATION, CHARITY AND RELIGION. A FAIRFIELD UNIVERSITY EDUCATION HAS BECOME MORE INTEGRATED IN FOCUS, MORE GLOBAL IN OUTLOOK, AND MORE INTENTIONAL IN ITS STRUCTURE THAN EVER BEFORE IN THE JESUIT TRADITION. WE ARE COMMITTED TO CREATING A STUDENT-FOCUSED, HOLISTIC, AND DIVERSE EDUCATIONAL ENVIRONMENT INTENDED TO EDUCATE THE WHOLE PERSON, MIND, BODY AND SPIRIT. WE WANT TO CULTIVATE IN BOTH OUR UNDERGRADUATE AND GRADUATE STUDENTS A SENSE OF COMMUNITY AND STRONG ETHICAL AND SPIRITUAL VALUES TO GUIDE THEM ON THEIR PATHS INTO THE FUTURE. FORM 990, PART I, LINE 1 FAIRFIELD'S MISSION IS TO DEVELOP THE CREATIVE INTELLECTUAL POTENTIAL OF ITS STUDENTS AND TO FOSTER IN THEM ETHICAL AND RELIGIOUS VALUES AND A SENSE OF SOCIAL RESPONSIBILITY. PART III, LINE 4A FAIRFIELD UNIVERSITY IS AN INSTITUTION OF HIGHER LEARNING WITH UNDERGRADUATE, GRADUATE, DOCTORATE AND CONTINUING EDUCATION ACADEMIC PROGRAMS INCLUDING STUDENTS RESIDING ON CAMPUS. FULL-TIME EQUIVALENT ENROLLMENT FOR THE 2022-2023 ACADEMIC YEAR WAS 4,689 UNDERGRADUATES AND 825 GRADUATE STUDENTS WITH APPROXIMATELY 3,584 STUDENTS LIVING IN ON-CAMPUS RESIDENCES. ALSO INCLUDED IN OUR PROGRAM SERVICES IS A SECONDARY PREPARATORY SCHOOL WITH AN ENROLLMENT OF APPROXIMATELY 796 STUDENTS. FAIRFIELD UNIVERSITY WELCOMED 1,328 MEMBERS OF THE CLASS OF 2026 AND 23 TRANSFER STUDENTS TO CAMPUS IN THE FALL OF 2022. THE CLASS OF 2026 IS A STRONG CLASS, WITH AN AVERAGE SAT SCORE OF 1310 UNDER THE NEW SCORING SYSTEM. CONTINUED REFINEMENT OF THE FINANCIAL AID PROCESS AS WELL AS ENHANCEMENTS TO CAMPUS PROGRAMMING AND FOLLOW UP COMMUNICATION EFFORTS RESULTED IN A CLASS THAT EXCEEDED OUR BUDGETED GOALS. IN 2022, FAIRFIELD UNIVERSITY MOVED INTO THE CARNEGIE CLASSIFICATION OF INSTITUTIONS OF HIGHER EDUCATION'S DOCTORAL UNIVERSITIES CATEGORY AND ENTERED THE BEST NATIONAL UNIVERSITIES RANKING FOR THE FIRST TIME PLACING AMONG U.S NEWS & WORLD REPORT'S TOP 125 BEST NATIONAL UNIVERSITIES. THE UNIVERSITY WAS THE TOP-RANKED INSTITUTION AMONG SCHOOLS THAT MOVED INTO THE NATIONAL UNIVERSITIES CATEGORY. FAIRFIELD'S SECOND YEAR ON THE BEST NATIONAL UNIVERSITIES LIST ALSO INCLUDES RECOGNITION IN THE BEST VALUE SCHOOLS - NATIONAL RANKINGS CATEGORY WHERE THE UNIVERSITY IS RANKED NO. 140, UP 7 SPOTS FROM 2023. IN PROGRAM SPECIALTY RANKINGS, THE DOLAN SCHOOL JUMPED 46 SPOTS TO NO. 118 FOR BEST UNDERGRADUATE BUSINESS PROGRAMS AND WAS RANKED NO. 16 FOR BUSINESS ANALYTICS; NO. 17 FOR MARKETING (UP 20 SPOTS); NO. 17 FOR FINANCE (UP 4 SPOTS); AND NO. 28 FOR ACCOUNTING (UP 11 SPOTS). FAIRFIELD'S SCHOOL OF ENGINEERING & COMPUTING WAS RANKED NO. 86 IN THE BEST UNDERGRADUATE ENGINEERING PROGRAMS CATEGORY (NO DOCTORATE), AND THE EGAN SCHOOL WAS RANKED 112 FOR BEST UNDERGRADUATE NURSING PROGRAMS. FAIRFIELD UNIVERSITY ALSO RANKED NO. 124 ON THE WALL STREET JOURNAL'S 2024 BEST COLLEGES IN THE U.S. LIST, JUMPING 66 SPOTS. ACCORDING TO U.S. NEWS & WORLD REPORT'S 2023-2024 BEST GRADUATE SCHOOLS RANKINGS, FAIRFIELD DOLAN'S FINANCE, MARKETING, AND BUSINESS ANALYTICS PROGRAMS ARE AMONG THE TOP 20 IN THE U.S., AND FAIRFIELD DOLAN'S ACCOUNTING PROGRAM MAINTAINED A HIGH RANKING OF #26 NATIONALLY. IN THE STATE OF CONNECTICUT, DOLAN'S ACCOUNTING, BUSINESS ANALYTICS, FINANCE, AND MARKETING PROGRAMS WERE RANKED #1. AMONG THE BEST NURSING SCHOOLS THAT OFFER MASTER'S DEGREES, THE EGAN SCHOOL RANKED #73 IN A TIE WITH FOUR SCHOOLS, AND TIED WITH QUINNIPIAC FOR #2 IN CONNECTICUT, BEHIND YALE. THE EGAN SCHOOL TIED AT #74 NATIONALLY AMONG SCHOOLS THAT OFFER DNP DEGREES. THE PRINCETON REVIEW'S THE BEST 388 COLLEGES: 2023 EDITION PLACED FAIRFIELD AT NO. 23 NATIONALLY ON ITS LIST OF "BEST-RUN COLLEGES." NICHE'S 2024 BEST COLLEGES RANKINGS INCLUDED FAIRFIELD IN THE TOP 20 PERCENT OF BEST COLLEGES IN AMERICA, IN ADDITION TO LANDING AMONG THE TOP 20 PERCENT OF TOP PRIVATE UNIVERSITIES IN AMERICA; BEST VALUE COLLEGES IN AMERICA; COLLEGES WITH THE BEST ACADEMICS IN AMERICA; COLLEGES WITH THE BEST STUDENT LIFE IN AMERICA; AND BEST COLLEGES FOR STUDENT ATHLETES IN AMERICA. FAIRFIELD IS ALSO AMONG THE TOP 10 PERCENT OF BEST COLLEGES FOR ACCOUNTING AND FINANCE, AND BEST COLLEGES FOR NURSING IN AMERICA ACCORDING TO NICHE. FAIRFIELD'S REPUTATION FOR EXCELLENCE IS ALSO REFLECTED IN THE RECORD NUMBER OF APPLICATIONS THE UNIVERSITY IS RECEIVING, AND OUR ADMIT RATE DECLINING. FAIRFIELD UNIVERSITY'S INCOMING CLASS OF 2027 IS THE MOST ACADEMICALLY ACCOMPLISHED IN THE JESUIT INSTITUTION'S RECENT HISTORY, AND STUDENTS WERE SELECTED FROM A RECORD NUMBER OF JUST OVER 15,450 APPLICANTS, UP FROM THE PREVIOUS RECORD-BREAKING NUMBER OF APPLICATIONS RECEIVED LAST YEAR. FAIRFIELD HAS ACHIEVED THIS GROWTH WHILE REMAINING TRUE TO ITS JESUIT MISSION TO EDUCATE AND FORM PERSONS OF INTEGRITY AND PURPOSE WHO WILL CONTINUE TO TRANSFORM OUR WORLD FOR THE BETTER. AS WE GROW, WE HAVE INVESTED IN OUR STUDENT'S EDUCATIONAL EXPERIENCE ENHANCING OUR LEARNING, LIVING AND RESEARCH SPACES, AND CREATING NEW AND INNOVATIVE FACILITIES TO ENSURE THAT A FAIRFIELD EDUCATION IS OF THE HIGHEST CONTEMPORARY STANDARDS. FAIRFIELD IS CREATING GREATER ACCESS TO STUDENTS OF ALL BACKGROUNDS AND IN FALL 2023 LAUNCHED FAIRFIELD BELLARMINE, A NEW ACADEMIC INITIATIVE THAT OFFERS A TWO-YEAR ASSOCIATE'S DEGREE PROGRAM. FAIRFIELD BELLARMINE IS PREPARING STUDENTS FOR TRANSITION TO A BACHELOR'S DEGREE PROGRAM AT FAIRFIELD OR ANOTHER FOUR-YEAR INSTITUTION, OR FOR MEANINGFUL EMPLOYMENT. THE CREATION OF THIS TWO-YEAR ASSOCIATE'S DEGREE PROGRAM, DESIGNED TO SERVE STUDENTS IN THE BRIDGEPORT COMMUNITY, IS PART OF THE UNIVERSITY'S STRATEGIC PARTNERSHIP WITH THE DIOCESE OF BRIDGEPORT, "PATHWAYS TO HIGHER LEARNING." THE UNIVERSITY IS ALSO BRINGING ITS EXCELLENT NURSING PROGRAMS TO AUSTIN, TEXAS, A REGION WHERE THERE IS A CRITICAL SHORTAGE OF NURSES. SEVEN MONTHS AFTER ITS GRAND OPENING IN JUNE 2023, FAIRFIELD'S AUSTIN CAMPUS RECENTLY WELCOMED ITS SECOND COHORT OF ACCELERATED SECOND-DEGREE NURSING STUDENTS. FAIRFIELD UNIVERSITY CONTINUES TO EXPAND ITS GRADUATE OFFERINGS INCLUDING A NEW EXECUTIVE DOCTORATE IN BUSINESS ADMINISTRATION, AND A NUMBER OF NEW ONLINE-ONLY MASTER'S DEGREE PROGRAMS IN BUSINESS, ENGINEERING AND OTHER HIGH DEMAND FIELDS. FAIRFIELD UNIVERSITY CONTRIBUTES NEARLY $1 BILLION ANNUALLY TO THE LOCAL ECONOMY, ACCORDING TO THE CONNECTICUT CONFERENCE OF INDEPENDENT COLLEGES (CCIC) 2023 ECONOMIC IMPACT STUDY. THE UNIVERSITY CREATED 7,171 JOBS IN CONNECTICUT IN 2021, AND ABOUT 20,000 FAIRFIELD ALUMNI WHO CALL CONNECTICUT HOME CONTRIBUTE SIGNIFICANTLY TO SPENDING LOCALLY AND STATEWIDE. FORM 990, PART VI, SECTION A, LINE 1 THE BOARD OF TRUSTEE'S (THE BOARD) IS THE GOVERNING BODY FOR THE UNIVERSITY. THE BOARD IS COMPRISED OF 32 MEMBERS, ONE OF WHICH IS THE UNIVERSITY PRESIDENT. THE BOARD MEETS ON A QUARTERLY BASIS AND EACH MEMBER HAS EQUAL VOTING RIGHTS. THE BOARD IS COMPRISED OF 10 COMMITTEES, EACH LED BY A COMMITTEE CHAIR. THE CHAIR OF EACH COMMITTEE IS ALSO A MEMBER OF THE EXECUTIVE COMMITTEE WHICH ALSO INCLUDES THE CHAIR OF THE FULL BOARD AND THE PRESIDENT OF THE UNIVERSITY. MINUTES ARE MAINTAINED FOR ALL COMMITTEE MEETINGS AND SHARED WITH THE FULL BOARD. THE EXECUTIVE COMMITTEE SHALL HAVE AND MAY EXERCISE ALL OF THE AUTHORITY OF THE BOARD OF TRUSTEES TO CARRY ON THE ORDINARY BUSINESS OF THE CORPORATION BETWEEN MEETINGS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS REVIEWED AND APPROVED BY THE VICE PRESIDENT FOR FINANCE BEFORE IT IS FORWARDED TO THE FINANCE AND AUDIT COMMITTEE. IT IS THE POLICY OF FAIRFIELD UNIVERSITY THAT EACH VOTING MEMBER OF THE FINANCE AND AUDIT COMMITTEE OF THE BOARD OF TRUSTEES IS PRESENTED WITH A COPY OF THE COMPLETED IRS FORM 990 BEFORE IT IS FILED WITH THE IRS. FORM 990 IS ALSO POSTED TO THE UNIVERSITY'S BOARD OF TRUSTEE ONLINE PORTAL FOR ALL TRUSTEES TO REVIEW. FORM 990, PART VI, SECTION B, LINE 12C MEMBERS OF THE BOARD OF TRUSTEES ARE ASKED TO SIGN A CONFLICT OF INTEREST STATEMENT. THE STATEMENT SHALL BE SIGNED ANNUALLY BY EACH BOARD MEMBER AS A CONDITION OF MEMBERSHIP ON THE BOARD OF TRUSTEES. EACH TRUSTEE IS EXPECTED TO DISCLOSE IN WRITING TO THE CHAIRMAN OF THE BOARD ALL SITUATIONS IN WHICH CONFLICTS MIGHT EXIST OR APPEAR TO EXIST. CONFLICT OF INTEREST STATEMENTS ARE COLLECTED AND REVIEWED BY THE UNIVERSITY SECRETARY. NO TRUSTEE HAVING INTERESTS CONFLICTING WITH THE INTERESTS OF THE UNIVERSITY, OR APPEARING SO, SHALL TAKE PART IN THE DELIBERATIONS OR VOTES OF THE BOARD INVOLVING THE QUESTION CONCERNING THE CONFLICT NOR SEEK TO INFLUENCE THE OTHER TRUSTEES ON THAT QUESTION. FORM 990, PART VI, SECTION B, LINE 15 THE REVIEW PROCESS INCLUDES ALL OF THESE ELEMENTS (1) REVIEW AND APPROVAL BY THE BOARD OF TRUSTEES--COMPENSATION IS REVIEWED AND APPROVED BY THE BOARD OF TRUSTEES OF FAIRFIELD UNIVERSITY EVERY TWO YEARS, PROVIDED THAT PERSONS WITH CONFLICTS OF INTEREST WITH RESPECT TO THE COMPENSATION ARRANGEMENT AT ISSUE ARE NOT INVOLVED IN THIS REVIEW AND APPROVAL. (2) USE OF DATA AS TO COMPARABLE COMPENSATION--THE COMPENSATION OF THE PERSON IS REVIEWED AND APPROVED USING DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED UNIVERSITIES. THE FOLLOWING METHODS HAVE BEEN USED: A. REVIEW BY AN INDEPENDENT THIRD PARTY; B. CONDUCT MARKET ASSESSMENT OF SALARIES; AND C. EVALUATE THE APPROPRIATENESS OF THE CURRENT SALARY STRUCTURE TO ENSURE THAT WE ARE AND REMAIN COMPETITIVE WITH THE MARKET, AS WELL AS REMAIN INTERNALLY EQUITABLE. (3) CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING--THERE IS CONTEMPORANEOUS DOCUMENTATION AND RECORD KEEPING WITH RESPECT TO THE DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENT. COMPENSATION ARRANGEMENT THE LAST TIME OF REVIEW WAS JUNE 2023. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS SUCH AS FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY AND WHISTLEBLOWER POLICY ARE AVAILABLE ON THE UNIVERSITY'S WEBSITE AND ALSO BY REQUEST. FORM 990, PART XI, LINE 9: CHANGE IN SPLIT INTEREST AGREEMENT -211,655.