2024-05-15T09:18:47+00:00 2023-06-30 350921680 CROWE LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2022-07-01 362181973 Rosalind Franklin University of Medicine and Science ROSA 8475783000 3333 Green Bay Road North Chicago IL 600643095 GAVIN FARRY CHIEF FINANCIAL OFFICER 8475783000 2024-05-15 true GAVIN FARRY 999009999 Nicole Bencik P00756195 3128997000 2022 2023-04-26 12:10:37Z Wendy Rheault 3333 Green Bay Road North Chicago IL 600643095 264620884 false X www.rosalindfranklin.edu X 1912 IL To improve the wellness of all people through innovative, interprofessional education of health and biomedical professionals and the discovery and implementation of knowledge. 16 14 1713 20 0 0 18484022 23244194 110958395 109757350 5781595 10911149 1176998 1653904 136401010 145566597 8128846 8936110 0 81299220 84914020 0 2349065 43962811 47294302 133390877 141144432 3010133 4422165 309403067 309593932 167900023 165257756 141503044 144336176 X Rosalind Franklin University of Medicine and Science is committed to serving the population through the interprofessional education of health and biomedical professionals and the discovery of knowledge dedicated to improving wellness. The University embodies the spirit of inquiry and excellence modeled by its namesake Dr. Rosalind Franklin, whose Photo 51 was crucial to solving the structure of DNA. Recognized for its research in areas including neuroscience, brain-related diseases, inherited disorders, diabetes, obesity, and gait and balance, RFU encompasses the Chicago Medical School, College of Health Professions, College of Nursing, College of Pharmacy, School of Graduate and Postdoctoral Studies, and the Dr. William M. Scholl College of Podiatric Medicine. false false 73046273 8936110 98591894 INSTRUCTION - THE PRIMARY PURPOSE OF THE UNIVERSITY IS TO EDUCATE AND TRAIN MEDICAL AND OTHER HEALTHCARE PROFESSION STUDENTS. IN THE 2022-2023 ACADEMIC YEAR, RFUMS TRAINED OVER 2,000 STUDENTS. 24252245 RESEARCH - A CORE COMPONENT OF THE UNIVERSITY'S MISSION IS THE DISCOVERY OF KNOWLEDGE DEDICATED TO IMPROVING THE HEALTH OF THE NATION'S PEOPLE. IN ADDITION TO INSTRUCTION, MANY OF THE UNIVERSITY FACULTY ENGAGE IN UNIVERSITY-FUNDED AND EXTERNALLY FUNDED RESEARCH PROJECTS. PRIMARY AREAS OF RESEARCH FOCUS INCLUDE: BRAIN SCIENCES, GENETIC DISEASES, PROTEOMICS, CANCER CELL BIOLOGY, IMMUNOLOGY, INFLAMMATION, CARDIAC RESUSCITATION, GAIT AND MOVEMENT/FALL PREVENTION, HEALTH EQUITY, AND SELECTED AREAS OF PSYCHOLOGY. EXTERNAL FUNDING COMES FROM THE NATIONAL INSTITUTES OF HEALTH AND ORGANIZATIONS SUCH AS THE LAKE COUNTY HEALTH DEPARTMENT, THE CYSTIC FIBROSIS FOUNDATION, AND THE FOREBATTEN FOUNDATION. 7208854 7859778 PATIENT CARE - THE UNIVERSITY UTILIZES EXISTING LABORATORY FACILITIES AND PERSONNEL TO PROCESS GENERAL LAB TESTS AND SPECIALIZED LAB TESTS FOR REPRODUCTIVE IMMUNOLOGY. 8179746 4448296 OTHER PROGRAM SERVICE REVENUES AND EXPENSES INCLUDE INTEREST ON STUDENT LOANS AND PENALTIES, STUDENT HOUSING REVENUE AND OTHER PROGRAM SERVICES. 8179746 4448296 112687118 true true false true false false false false true true false false true true true false true true false true false false false false false false false true true true false false false false false false false false true false true false false false true true true true false false true 2715 0 true 1713 true true true false false false false true true false false false false false false X 16 14 false false false false false false false true true false false true true true true true true true true false CO X GAVIN FARRY 8475783000 3333 GREEN BAY ROAD North Chicago IL 600643095 Dr Karen Miller Vice Chair (Beg Sept 2022)/Trustee 2.0 0.0 X X 0 0 0 Dr Lee Sacks Chair (Beg Sept 2022)/Vice Chair (through Sept 2022)/Trustee 2.0 0.0 X X 0 0 0 Dr Wendy Rheault President & CEO 38.0 2.0 X X 987447 0 44885 Elizabeth Coulson Chair (Through Sept 2022)/Trustee 1.0 0.0 X X 0 0 0 Martin Manning Treasurer (Beg Sept 2022)/Trustee 2.0 0.0 X X 0 0 0 Michael C Foltz Treasurer/Trustee (through Sept 2022) 1.0 0.0 X X 0 0 0 Sandra Bruce Secretary/Trustee 2.0 0.0 X X 0 0 0 Alan Weinstein Trustee 1.0 0.0 X 0 0 0 Dr Adam Fleischer Faculty/Trustee 1.0 0.0 X 136141 0 57821 Dr Allan Cohen Trustee 1.0 0.0 X 0 0 0 Dr Cheryl Kraff-Cooper Trustee 1.0 1.0 X 0 0 0 Dr Elder Granger Trustee (through Oct 2022) 1.0 0.0 X 0 0 0 Dr John Grady Trustee 1.0 1.0 X 0 0 0 Dr Kimberley Darey Trustee (as of May 2023) 1.0 0.0 X 0 0 0 Dr Seema Bhatia Trustee 1.0 1.0 X 0 0 0 Dr Thomas G Moore Trustee (through Sept 2022) 1.0 0.0 X 0 0 0 Ernest Vasseur Trustee (as of Sept 2022) 1.0 2.0 X 0 0 0 Manuel Von Schulenburg Trustee (through Sept 2022) 1.0 0.0 X 0 0 0 Maria Clarke Trustee (as of Nov 2022) 1.0 0.0 X 0 0 0 Pamela Scholl Trustee (through Dec 2022) 1.0 0.0 X 0 0 0 Rosalind Franklin Trustee 1.0 0.0 X 0 0 0 Shaundra Clay Trustee (through Sept 2022) 1.0 0.0 X 0 0 0 Bruce Jefferson Asst Secretary/General Counsel 2.0 0.0 X 206839 0 48328 Gavin Farry EVP of Finance & Admin, CFO 38.0 2.0 X 394446 0 51820 Dr Archana Chatterjee Dean & VP of Medical Affairs 40.0 0.0 X 565918 0 63984 Dr Nancy Parsley Provost 40.0 0.0 X 426241 0 39475 Dr Ronald Kaplan EVP Research & Vice Dean Research, CMS 40.0 0.0 X 396512 0 71379 Lee Concha EVP Univ. Strategies & Chief of Staff 40.0 0.0 X 309783 0 44794 Dr Frank Maldonado Executive Chair, Clinical Sciences 40.0 0.0 X 431260 0 5078 Dr Jeanette Morrison Vice Dean, MedEd & Exec Vice Dean, CMS 40.0 0.0 X 343767 0 70726 Dr Michael Zdon Education Director, Surgery, Professor 40.0 0.0 X 366662 0 62672 Dr Nutan Atre-Vaidya Vice Dean, Discipline Chair 40.0 0.0 X 340211 0 62858 Dr Stephanie Wu Dean 40.0 0.0 X 355023 0 68857 5260250 0 692677 294 false true false Hill Mechanical Corp 11045 Gage Ave Franklin Park IL 60131 Construction/Renovation 2206593 G3 Construction Group 7575 Plaza Court Willowbrook IL 60527 Construction/Renovation 1257613 Woodlands on Green Bay Apartments 3500 Green Bay Road North Chicago IL 60064 Student Housing Services 1237165 Harvard Maintenance Inc PO Box 748458 Atlanta GA 30374 Janitorial Services 1147508 Alliance Building Services LLC 1555 Industrial Drive Itasca IL 60143 Construction/Demolition 526918 27 9542245 13701949 853845 23244194 TUITION & FEES 611310 98591894 98591894 PATIENT CARE 621400 7859778 7859778 STUDENT HOUSING REVENUE 611310 3062748 3062748 INCOME FROM STUDENT LOAN INTEREST 611310 141902 141902 COMPOUND TESTING LAB 621500 101028 101028 0 0 0 0 109757350 2210234 0 2210234 511286 511286 0 511286 511286 127754802 400 119054287 0 8700515 400 8700915 8700915 TRANSCRIPT AND REGISTRATION FEES 900099 92929 92929 BOOK STORE SALES 900099 182907 182907 STUDENT ORGANIZATIONS 900099 236950 236950 629832 629832 0 0 1142618 145566597 110899968 0 11422435 8936110 8936110 3845814 1855669 1839645 150500 241901 150090 91811 64820779 52096460 11615884 1108435 5253847 4222516 941490 89841 5525104 4440526 990099 94479 5226575 4200599 936602 89374 181921 181921 125888 125888 10807 10807 132789 132789 8960341 8146251 728456 85634 1241446 253319 988127 5451740 5160757 237322 53661 3494368 1057052 2421500 15816 4937188 4663735 108709 164744 883639 739105 82769 61765 380253 320261 44691 15301 5776428 4642515 1133913 7750877 6229380 1521497 1351594 1093423 235681 22490 Membership Dues 573145 535975 28995 8175 Repair & Maintenance of Equipment 456986 372415 84571 5584892 3570960 1625082 388850 141144432 112687118 26108249 2349065 8199736 6134942 10590942 7059362 1385605 5763761 8549735 8005789 83030 63578 0 0 0 0 0 0 6233653 5207909 284862732 136454026 145585521 148408706 65589246 76058467 24526544 12341156 0 38659055 40550262 309403067 309593932 20573384 19989204 0 0 13002191 12356346 58180000 57030000 0 0 50759332 50732677 25385116 25149529 167900023 165257756 X 122430600 123107218 19072444 21228958 0 0 0 0 0 0 141503044 144336176 309403067 309593932 X 4422165 -2496484 907451 X false true X true true true X 15697977 15646090 16383175 18405697 23244190 89377129 0 0 15697977 15646090 16383175 18405697 23244190 89377129 669984 88707145 1512172 4063942 913650 1843724 2721520 11055008 0 0 0 0 0 0 0 0 0 0 0 0 100432137 430409280 0.8833 0.8834 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false false false false true 10807 false false 10807 false Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY The University's lobbying expenses represent fees paid to a government relations consultant who is registered as a lobbyist with the State of Illinois and works on behalf of the University with state and local elected officials and agencies. The consultant kept the organization apprised of legislation that impacts higher education, healthcare and biomedical research, apprised the organization of potential state funding opportunities, and facilitated topical briefings with elected officials. 89275055 1355959 8414265 551472 10718257 0 87775550 100399046 4636093 -11100066 618638 4041380 0 89275055 78895738 4663636 22190123 449836 4900615 0 100399046 81612966 6512079 1836116 330224 10735199 0 78895738 83072564 5299853 3156287 461880 9453858 0 81612966 0.853 0.147 0.0 false false 0 17824757 17824757 0 200985611 88967378 112018233 0 0 0 0 0 61803516 47486648 14316868 0 4248848 0 4248848 148408706 DUE FROM RELATED ORGANIZATION 33855205 RIGHT-OF-USE ASSETS 2966351 LOANS TO STUDENTS, NET 3728706 40550262 Federal equity in student loan programs 3217170 Postretirement healthcare benefits 17294475 Lease liabilities 3155090 Due to related organizations 1482794 25149529 X Schedule D, Part V, Line 4 Intended uses of endowment funds The University's endowment is comprised of both donor-restricted and board-designated funds. The Investment Committee of the Board of Trustees provides oversight over the investment of those endowment funds by establishing policies and procedures concerning the management of endowment funds. Investment is consistent with the Uniform Prudent Management of Institutional Fund Act (UPMIFA). RFUMS has adopted a Total Return Spending Policy, which allocates an amount annually to be utilized according to donor restrictions or for advancing the University's mission in unfunded areas. The majority of donor-restricted funds provide scholarships and student aid. Funds generated by board-designated funds are used to support strategic initiatives and to provide general operating support. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The University has received a favorable letter of determination from the Internal Revenue Service concerning its tax-exempt status under Section 501(c)(3) of the Internal Revenue Code. The University files a Form 990 annually. When these returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the tax position taken or the amount of the position that would ultimately be sustained. Examples of tax positions common to universities include such matters as the following: the tax exempt status of each entity and various positions relative to potential sources of unrelated business income tax (UBIT). UBIT is reported on Form 990-T, as appropriate. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes that it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions are not offset or aggregated with other positions. Tax positions that meet the "more likely than not" recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely to be realized on settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above would be reflected as a liability for uncertain tax benefits in the accompanying statements of financial position along with any associated interest and penalties that would be payable to the taxing authorities upon examination. As of June 30, 2023 and 2022, there were no uncertain tax positions identified. The University does not expect the total amount of unrecognized tax benefits to significantly change in the next 12 months. Forms 990 and 990-T filed by the University are subject to the examination by the IRS up to three years from the extended due date of each return. Management believes the Forms 990 and 990-T have been filed appropriately. The University would recognize interest and penalties related to unrecognized tax positions in interest and income tax expense, respectively. The University has no amounts accrued for interest or penalties as of June 30, 2023 and 2022. true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY Notifications and announcements are made via the University website, promotional material, catalogs and handbooks. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT Rosalind Franklin University of Medicine & Science applies for and receives research grants, as approved on a case by case basis, from various Federal agencies. The University also participates in Federal student aid programs for qualified students, specifically Perkins, Federal Direct Loan, Federal Work Study, and Health Profession Student Loans. The Federal grants and loans are reported in the University's A-133 Single Audit. East Asia and the Pacific 0 0 Program Services Instruction 100 Europe (Including Iceland and Greenland) 0 0 Program Services Research and Instruction 29165 Middle East and North Africa 0 0 Program Services Research 31499 North America (Canada & Mexico only) 0 0 Program Services Research 11704 Central America and the Caribbean 0 0 Investments 9065445 0 0 0 0 0 0 9137913 0 9137913 true false true false true false Schedule F, Part I, Line 3 Method used to account for expenditures on org's financial statements CENTRAL AMERICA AND THE CARIBBEAN-Accrual; EAST ASIA AND THE PACIFIC-Accrual; EUROPE (INCLUDING ICELAND AND GREENLAND)-Accrual; MIDDLE EAST AND NORTH AFRICA-Accrual; NORTH AMERICA (CANADA & MEXICO ONLY)-Accrual true TUITION WAIVERS/SCHOLARSHIPS 841 6624489 PRIVATE SCHOLARSHIPS 321 1702980 STUDENT HARDSHIP 578 608641 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. Procedures for monitoring the use of grant funds include retaining awarding and selection criteria, cost of attendance budgeting and monitoring and maintenance of continuous education policies. Records of each of the above are maintained to ensure continuous oversight and adherence to policies regarding usage. X X true true X X X X false false false false false false false false false Dr Wendy Rheault President & CEO 777447 0 150000 0 60000 0 30500 0 14385 0 1032332 0 0 0 Dr Adam Fleischer Faculty/Trustee 130786 0 5355 0 0 0 14159 0 43662 0 193962 0 0 0 Gavin Farry EVP of Finance & Admin, CFO 369446 0 25000 0 0 0 30500 0 21320 0 446266 0 0 0 Bruce Jefferson Asst Secretary/General Counsel 206839 0 0 0 0 0 21500 0 26828 0 255167 0 0 0 Lee Concha EVP Univ. Strategies & Chief of Staff 309783 0 0 0 0 0 30500 0 14294 0 354577 0 0 0 Dr Nancy Parsley Provost 426241 0 0 0 0 0 30500 0 8975 0 465716 0 0 0 Dr Ronald Kaplan EVP Research & Vice Dean Research, CMS 387446 0 0 0 9066 0 30500 0 40879 0 467891 0 0 0 Dr Archana Chatterjee Dean & VP of Medical Affairs 565918 0 0 0 0 0 30500 0 33484 0 629902 0 0 0 Dr Michael Zdon Education Director, Surgery, Professor 366662 0 0 0 0 0 30500 0 32172 0 429334 0 0 0 Dr Jeanette Morrison Vice Dean, MedEd & Exec Vice Dean, CMS 343767 0 0 0 0 0 30500 0 40226 0 414493 0 0 0 Dr Nutan Atre-Vaidya Vice Dean, Discipline Chair 340211 0 0 0 0 0 30500 0 32358 0 403069 0 0 0 Dr Stephanie Wu Dean 350686 0 4337 0 0 0 30500 0 38357 0 423880 0 0 0 Dr Frank Maldonado Executive Chair, Clinical Sciences 431260 0 0 0 0 0 0 0 5078 0 436338 0 0 0 Schedule J, Part I, Line 1a Housing allowance or residence for personal use THE PRESIDENT RECEIVED A HOUSING ALLOWANCE BY THE UNIVERSITY. IT IS TREATED AS TAXABLE COMPENSATION. Schedule J, Part I, Line 1a Health or social club dues or initiation fees THE PRESIDENT RECEIVED A HEALTH CLUB MEMBERSHIP. IT IS TREATED AS A NONTAXABLE BENEFIT. A Illinois Finance Authority 861091967 45204EVQ8 2017-08-23 55075000 RETIRE 2003 & 2012 BONDS, CONSTRUCT EDUCATIONAL FACILITIES false false false A 0 0 55075000 0 0 0 1090941 0 0 0 53984059 0 2017 true false true true A false false false false 0.0 0.0 0.0 false false true A false false false true false false false false true A true Schedule K, Part IV, Line 2c COLUMN A Issuer name: Illinois Finance Authority The calculation for computing no rebate due was performed on 08/23/2022 JUNE MAYOR WIFE OF KEY EMPLOYEE 85444 EMPLOYEE OF THE UNIVERSITY false MARK GRUMET SON OF A TRUSTEE 156457 EMPLOYEE OF THE UNIVERSITY false X 908 Market value X 12959 51990 Market value X 1 750000 Market value X Auction Items 27 3840 Market value X Medical and non-medical supplies for patient care 1524 47107 Market value 0 false true false Schedule M, Part I Explanations of reporting method for number of contributions Securities - Publicly traded - number of items Real estate - Residential - Items received Form 990, Part III, Line 4d Description of other program services (Expenses $ 8,179,746 including grants of $)(Revenue $ 4,448,296) OTHER PROGRAM SERVICE REVENUES AND EXPENSES INCLUDE INTEREST ON STUDENT LOANS AND PENALTIES, STUDENT HOUSING REVENUE AND OTHER PROGRAM SERVICES. Form 990, Part VI, Line 1a Delegate broad authority to a committee The Executive Committee shall consist of, at a minimum, the Chair of the Board (as Chair of the Executive Committee), the Vice Chair of the Board, the Treasurer, the Secretary, and the President. The Executive Committee shall have the authority to exercise all authority of the Board of Trustees when the Board is not in session and time is of the essence, except as may be prohibited under law. When practicable, prior to the Executive Committee taking material actions on behalf of the Board pursuant to this provision, notice should be made to all Trustees of the pending matter in sufficient time to allow the Trustees to seek a special meeting to address that pending matter. The Board shall be notified of all actions taken by the Executive Committee at the earliest convenience. This notification may be accomplished by any means that fairly summarizes the actions taken by the Executive Committee. Form 990, Part VI, Line 11b Review of form 990 by governing body The organization's Chief Financial officer conducts a detailed review of the Form 990 in conjunction with the independent tax preparer of RFUMS. A formal review of the full Form 990 is then conducted by the organization's officers and members of management prior to filing with the Internal Revenue Service. Subsequent to this review, a copy of the Full Form 990 is distributed to each voting member of the Board of Trustees prior to filing with the Internal Revenue Service. Form 990, Part VI, Line 12c Conflict of interest policy RFUMS has written conflict of interest policies for members of the Board of Trustees and officers of the corporation. In addition, conflict of interest policies and disclosure requirements cover senior administration and faculty, and all investigators engaged in university-sponsored or externally funded research. On an annual basis, members of the groups noted are required to disclose any interests that could give rise to any conflicts and provide a list of any potential and actual conflicts. Board of Trustees and officer disclosure documents are monitored by the Audit Committee of the Board. All others are monitored by the University's General Counsel. In the event of a conflict of interest, the individual is required to disclose the conflict and is prohibited from participating as a member of the Committee or Board in the matter in which there is a conflict. Form 990, Part VI, Line 15a Process to establish compensation of top management official The total compensation package of the organization's top management official is established, approved and reviewed each year by the organization's independent compensation committee of the Board of Trustees and reported to the full Board of Trustees. To ensure that compensation is both reasonable and competitive, the Board retains the services of an outside independent consulting firm with expertise in academic healthcare. The independent consultant conducts a market survey that provides the Board with comparability data for compensation for similarly qualified persons at similar organizations. The decisions and deliberations regarding the review and approval of the top management official's compensation are documented in the Board minutes. Form 990, Part VI, Line 15b Process to establish compensation of other employees The compensation for other officers and key employees is established and approved by the organization's top management official, with oversight and review annually by the Board of Trustees. To ensure that compensation is both reasonable and competitive for the above parties, the Board retains the services of an outside independent consulting firm with expertise in academic environments and healthcare on a periodic basis. Form 990, Part VI, Line 19 Required documents available to the public The organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990, Part VIII, Line 11d Other Miscellaneous Revenue All other - Total Revenue: 629832, Related or Exempt Function Revenue: 629832, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part XI, Line 9 Compensation of Board Members Adam Fleischer is not compensated by RFUMS in his capacity as a member of the Board of Trustees, but does receive compensation as a faculty member of the University. IN ACCORDANCE WITH THE FORM 990 INSTRUCTIONS, PART IX, LINE 5 REPORTS Adam Fleischer's COMPENSATION FOR SERVICES RENDERED as an employee of the organization. Form 990, Part XI, Line 9 Other changes in net assets or fund balances POST RETIREMENT LIAB ACTUARIAL ADJUSTMENT - 1688258; POST RETIREMENT HEALTH CARE COSTS - -780807; RFU LLC Corporation Trust Center 1209 Orange Stret Wilmington DE 19801 Real estate DE 3010553 49234356 Rosalind Franklin University of Medicine and Science ROSALIND FRANKLIN UNIVERSITY HEALTH CLINICS 3333 GREEN BAY ROAD NORTH CHICAGO IL 60064 770691998 HEALTH CARE IL 501(c)(3) Type I RFUMS true false false false true false false false false false false false false false true true true false false false ROSALIND FRANKLIN UNIVERSITY HEALTH CLINICS D 32372411 Cost