2025-05-08T10:51:07+00:00 2024-06-30 920460586 PwC US Tax LLP 2001 MARKET ST SUITE 1800 PHILADELPHIA PA 19103 990 2023-07-01 741109620 William Marsh Rice University WILL 7133480000 6100 Main St MS 70 Houston TX 770051827 Katrina Spencer Sr. Associate VP, CFO & Treasurer 2025-05-08 true ERIC M MCNEIL P00460263 2673303000 2025-05-08 2023 2025-03-06 01:10:19Z Reginald DesRoches 6100 Main St MS 70 Houston TX 770051827 2446826758 false X www.rice.edu X 1908 TX Research and education 26 24 9223 3500 69139441 725033 278139634 328904086 544275179 592220991 283029310 441274815 20196400 61037280 1125640523 1423437172 257352458 278719623 0 517689006 578022831 0 26092695 368574645 416437437 1143616109 1273179891 -17975586 150257281 9240780818 10652732029 1443554086 1756350029 7797226732 8896382000 As a leading research university with a distinctive commitment to undergraduate education, Rice University aspires to path breaking research, unsurpassed teaching, and contributions to the betterment of our world. It seeks to fulfill this mission by cultivating a diverse community of learning and discovery that produces leaders across the spectrum of human endeavor. The University enrolls approximately 4,200 undergraduate and 4,000 graduate students. Approximately 70% of undergraduate students receive financial aid, as do almost all doctoral students. false false 914089620 274020834 593147371 Departmental research and instruction, and other institutional activities. Rice University is accredited by the Southern Association Of Colleges And Schools Commission On Colleges (SACS-COC), Accreditation Board For Engineering And Technology (ABET), International Association for Management Education (AACSB International), National Architectural Accrediting Board (NAAB), and the Texas Education Agency (TEA). Rice serves approximately 4,500 undergraduate and 4,000 graduate students, as well as 13,000 life-long learners. For the cohort entering Fall 2017 the six-year undergraduate graduation rate is 95.7 percent. Rice offers more than 50 undergraduate majors across six schools of study: Social Sciences, Natural Sciences, Engineering, Humanities, Music and Architecture. In conjunction with various majors, students can take courses that satisfy the requirements for admission to medical, dental, law or graduate school, or that lead to teacher certification. The university offers four online master's degrees to deliver education to working professionals who may not have the option to study on campus: MBA@Rice, Master of Computer Science, Master of Data Science, and Master of Engineering Management and Leadership. The university also offers online courses for credit and for life-long learning, both during the academic year and in summer sessions. To date, over 2 million learners have enrolled in computer science, engineering, physics, and other courses taught by Rice's award-winning faculty, and 90,000 learners have completed at least one online course. Rice University has an undergraduate student-to-faculty ratio of 6 to 1. In general, classes are small enough for each professor to know every student's name, so there is ample opportunity for personal attention. Rice is ranked among the top 20 nationally by the US News and World Report in the 2025 edition, as in every edition since first ranked in 1988, and the Princeton Review ranked Rice in the top ten for "Happiest Students," "College with Great Financial Aid," "Best Career Placement, "LGBTQ-friendly" among other accolades in the 2020 edition. In Kiplinger's "Best College Values" 2019, Rice ranks No. 5 among private universities and No. 8 among private and public schools combined. Rice offers over 70 masters and doctoral degrees in the Humanities, Liberal Studies, Social Sciences, Natural Sciences, Engineering, Architecture, Music, and Business. Graduate programs are small to medium-sized, offering the opportunity to work closely with graduate advisors. Proximity to both the Houston Museum District and the renowned Texas Medical Center allows for exceptional access to the visual arts as well as cutting-edge biomedical research. The many interdisciplinary centers and institutes enhance the experience of students across all disciplines. The school attracts more than 16,000 enrollments each year to its non-credit and credit programs. Rice is located in Houston, Texas, the nation's fourth-largest city, the energy capital of the world and a dynamic international business and cultural center, on a 300-acre, tree-lined campus just a few miles from downtown. 207610000 4025451 23799365 Basic scientific research and training and other sponsored educational programs. From its inception, Rice has been dedicated, in the words of its first president Edgar Odell Lovett,"As much to investigation as to instruction to providing a setting in which faculty would join the "pleasures of teaching" with "the privileges of research." The university has realized much of this ambition with distinction in undergraduate education and research excellence across many disciplines. Rice is home to more than 40 interdisciplinary research centers, institutes and consortia, and research is a fundamental part of the undergraduate experience. The university has produced Fulbright Scholars, Marshall Scholars, Watson Fellows, Mellon Fellows, National Science Foundation Fellows, and Rhodes Scholars among other honors and awards. The university has a very high level of research activity for its size, with $205 million in sponsored research funding in 2024. Rice is noted for its applied science programs in the fields of artificial heart research, structural chemical analysis, signal processing, space science and nanotechnology. It was ranked in the top 10% of institutions based on citations per faculty per academic analytics data. Rice has 683 full-time and 196 part-time faculty members. Ninty-nine percent of full-time faculty hold Ph.D.s or equivalent terminal degrees in their field. Because of their pioneering research, Rice faculty have been honored with numerous prestigious awards and accolades over the years. In 1996, Rice professors Richard Smalley and Robert Curl (now deceased) received the Nobel Prize for their discovery of a unique molecular form of carbon that heralded the new era of nanotechnology research. In 2011, Richard Tapia, a Rice mathematician and longtime champion of diversity In U.S. education, received the National Medal of Science from President Barack Obama for his work in optimization theory and numerical analysis, as well as for his mentoring of women and under-represented minorities in the fields of mathematics and science. As of February 2018, Rice had 12 faculty members in the National Academy of Engineering, 10 in the National Academy of Science, four in the Institute of Medicine, and six in the National Humanities Center. In 2016, Dr. Rebecca Richards-Kortum won a prestigious Macarthur Fellowship. Rice's commitment to scientific research can be seen in the construction of the Bioscience Research Collaborative, a 488,000- square-foot facility where scientists and educators from Rice and other Texas Medical Center institutions work together on research that benefits human medicine and health, and the Brockman Hall for Physics, a state-of-the-art 110,000 square-foot facility that includes vibration and noise controlled underground laboratories. Rice also has an active research agenda in the social sciences and humanities. The Baker Institute for Public Policy is one of the leading nonpartisan public policy think tanks in the country and conducts research on domestic and foreign policy issues. The Humanities Research Center fosters international and interdisciplinary connections with workshops and large conferences. Focus areas include questions of energy and energy transitions, the Civic Humanists program, and the Our Americas Archive Partnership. 37881000 3675130 Operations of a library that serves students, faculty, staff, alumni, and friends of William Marsh Rice University and is open to the public by charter. The Fondren Library subscribes to approximately 72,000 current journals (print and electronic) and houses over 3,032,000 print volumes and 3,276,000 units of microforms. The collections include audiovisuals, music recordings, scores, and other special formats. An increasing amount of library resources are provided online. The library is a selective depository for U.S. and Texas government publications and a depository for documentation of U.S. patents and trademarks. The Brown Fine Arts Library contains over 200,000 volumes related to art, architecture, classical archaeology, and music. All library patrons are welcome to use fine arts materials and facilities, including listening equipment, VHS, DVD, and Laserdisc players. The Gilbert and Ruth Whitaker Business Information Center provides additional specialized resources in its nearby space, designed by noted architect Robert A.M. Stern. 1159580620 true true false true false false true false true true true false false true true false true true true true true false false true false false false true true true true false false false false true false true true false true true false false true true true true true false true X 3857 0 true 9223 true true true true HU MI PL RO UK CA UC FR false false false true true false false false false true true X 26 24 false false false false false false false true true false false true true true true true true true true true true CA IN KS MA NM ND OK OR RI VT WA X X Bradley W Fralic 7133480000 6100 Main St MS 70 Houston TX 77005 Reginald Desroches President 40.0 1.0 X X 1286186 0 369641 Asuka Nakahara Trustee 2.0 X 0 0 0 Bart Broadman Trustee 2.0 X 0 0 0 Brandy Morrison Trustee 2.0 X 0 0 0 Brian Patterson Trustee 2.0 X 0 0 0 Byron Pope Trustee 2.0 X 0 0 0 Claudia Gee Vassar Trustee 2.0 X 0 0 0 Elle Anderson Trustee 2.0 X 0 0 0 Elle Moody Trustee 2.0 X 0 0 0 George Gonzalez Trustee 2.0 X 0 0 0 Gloria Tarpley Trustee 2.0 X 0 0 0 Holli Ladhani Trustee 2.0 X 0 0 0 James T Hackett Trustee 2.0 X 0 0 0 James Whitehurst Trustee 2.0 X 0 0 0 Jennifer Kneale Trusttee 2.0 X 0 0 0 Jeremy Thigpen Trustee 2.0 X 0 0 0 Joshua Earnest Trustee 2.0 X 0 0 0 Lori Whitten Trustee 2.0 X 0 0 0 Lynn A Lednicky Trustee 2.0 X 0 0 0 Mark Durcan Trustee 2.0 X 0 0 0 Michael Yuen Trustee 2.0 X 0 0 0 Michol L Ecklund Trustee 2.0 X 0 0 0 Randa Duncan Williams Trustee 2.0 X 0 0 0 Robert T Ladd Chair, Board of Trustees 5.0 X 0 0 0 Terrence Gee Trustee 2.0 X 0 0 0 Vinay Pai Trustee 2.0 X 0 0 0 Allison Thacker Chief Investment Officer, Treasurer, Assistant Secretary 40.0 8.0 X 1125663 0 74321 Amy Dittmar Provost and Executive Vice President for Academic Affairs 40.0 3.0 X 778259 0 124685 Bradley Fralic Associate VP Finance, Controller, Associate Treasurer 40.0 1.0 X 289929 0 60563 Brian Padley VP for Information Technology and Chief Information Officer 40.0 X 412204 0 61342 Caroline Levander VP for Global 40.0 X 463050 0 98399 Cindy Melton Associate Treasurer and Assistant Secretary 40.0 4.0 X 516650 0 82952 Claire Nelson Associate Treasurer and Assistant Secretary 40.0 2.0 X 249006 0 70729 Cynthia Wilson Deputy Secretary to the Board of Trustees 40.0 X 180717 0 33425 Eno-Obong Oregbesan Assistant Secretary 40.0 X 170439 0 46686 Jeffrey Falk Interim Vice President for Public Affairs 40.0 X 227498 0 29861 Joseph Davidson Senior Associate General Counsel and Assistant Secretary 40.0 3.0 X 369368 0 73245 Katrina Spencer CFO & Treasurer 40.0 X 448084 0 30975 Kelly Fox Executive VP for Finance and Administration 40.0 9.0 X 711093 0 123928 Kenneth Jett Vice President Facilities & Capital Construction & President Rice Real Estate (Beg April 24) 40.0 X 0 0 0 Larry Perez Associate Treasurer and Assistant Secretary 40.0 2.0 X 235084 0 57698 Melinda Spaulding Chevalier Vice President of Public Affairs (Beg Aug 23) 40.0 X 206575 0 20162 Omar Syed Vice President, General Counsel and Secretary 40.0 10.0 X 490215 0 51471 Paul Cherukuri Vice President for Innovation and Chief Innovation Officer 40.0 1.0 X 287042 0 95732 Ramamoorthy Ramesh Executive VP for Research 40.0 2.0 X 716493 0 141428 Ronica Smucker Interim VP for Development and Alumni Affairs (Thru Dec 23) 40.0 1.0 X 423530 0 68242 Stephen Bayer Vice President for Development & Alumni Relations (Beg Sep 23) 40.0 X 239438 0 19183 Veta Byrd-Perez Senior Associate General Counsel and Assistant Secretary 40.0 7.0 X 248498 0 68912 Yvonne Romero Da Silva VP for Enrollment 40.0 X 364090 0 62692 Luay Nakhleh Dean of George R. Brown School of Engineering 40.0 X 570364 0 33090 Peter Rodriguez Dean of Jones Graduate Business School of Business 40.0 X 656825 0 121826 Thomas Killian Dean of Wiess School of Natural Sciences 40.0 X 433589 0 71455 Thomas McClelland Director of Athletics (Beg Aug 23) 40.0 X 265827 0 19745 Brent Smith Associate Professor 40.0 X 940580 0 71139 Craig Beach Investment Manager 40.0 X 958074 0 74382 John Lawrence Investment Manager 40.0 X 990668 0 70226 Kerry Back Professsor of Finance 40.0 X 866856 0 63109 Michael Bloomgren Football Coach 40.0 X 966912 0 64081 David Leebron Former President 40.0 X 2686055 0 72243 Jeffrey Barnes Former Officer 40.0 X 224921 0 29050 Kathy Dantley Warren Former Officer (to Mar 23) 40.0 X 695126 0 21097 Linda Thrane Former Officer 40.0 X 299036 0 40702 Peter Rossky Former Dean 40.0 X 478425 0 71909 Robert Yekovich Former Dean 40.0 X 492001 0 55496 Seiichi Matsuda Former Interim Provost 40.0 X 380870 0 51841 22345240 0 2797663 1072 true true false Anslow Bryant Construction LTd 840 Gessner Ste 250 Houston TX 77024 Construction 56025487 Austin Industries Inc 4888 Loop Central 310 Houston TX 77081 Construction 55161648 Skanska B Bell Builders A Joint Venture 800 Capitol St Ste 1210 Houston TX 77002 Construction 53888400 B Bell Builders LP 104 Industrial Blvd Ste 100 Sugar Land TX 77478 Construction 10873013 2U Inc 7900 Harkins Rd Lanham MD 20706 Consulting 7840151 108 0 0 1159380 0 167631000 160113706 29034777 328904086 Tuition and fees 900099 473998000 473998000 Auxiliary operations 900099 74928500 74928500 Department sales 541900 19495126 19665321 -170195 Research contracts 900099 23799365 23799365 0 0 0 0 592220991 165914161 69309636 96604525 2357586 2357586 4016335 4016335 0 4016335 4016335 1298226136 1022865482 275360654 0 275360654 275360654 237230 1159380 524104 -286874 -286874 Oil and gas 211110 16825554 16825554 Net rental income investment properties 531100 16267921 16267921 21856758 21856758 0 0 54950233 1423437172 620621865 69139441 404771780 274020834 274020834 4698789 4698789 12360200 3799561 6624461 1936178 584216 452966 131250 0 455008462 406958640 37097099 10952723 32942065 29467075 2565374 909616 50098049 44813310 3901402 1383337 27029839 24178517 2104958 746364 1762331 238959 1523372 943206 2224 940982 413496 413496 11556561 11556561 54991624 42402524 11399555 1189545 8479032 7226319 994323 258390 31134006 28602345 1794604 737057 32054329 27176445 2497481 2380403 222040 200 221840 33016757 31636486 1045897 334374 24150169 22543325 950982 655862 17344597 14252067 617379 2475151 40921717 40921717 83752825 82075020 1038641 639164 8479588 8472730 1539 5319 Research subcontracts 27239536 27154156 85380 0 All other expenses 26183559 24694347 0 1489212 Reserve for Doubtful Accounts 8363734 8363734 Canceled Capital Project 5428330 5428330 0 0 0 0 1273179891 1159580620 87506576 26092695 23398405 144260000 229220000 260195791 27419233 23420882 1017924 536422 0 0 4099247 2242934 691618 716000 12924701 8633000 2856637000 1299119000 1496127000 1557518000 2376465691 2535029000 5069416999 6120180000 0 0 0 9240780818 10652732029 120077283 108936929 24391803 36637654 73804000 330080000 0 0 1090208000 1148069557 135073000 132625889 1443554086 1756350029 X 3024681732 3887576000 4772545000 5008806000 7797226732 8896382000 9240780818 10652732029 X 150257281 -239558541 1188456528 X false true X true true true X 197924408 281432076 275650613 227666710 328904086 1311577893 0 0 0 0 197924408 281432076 275650613 227666710 328904086 1311577893 0 1311577893 57838767 36493988 61280114 64668937 136071921 356353727 0 0 22718715 31724652 26648799 81092166 0 0 0 0 0 0 1749023786 2435815229 0.7499 0.7101 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false true false false false false true 398496 false true 15000 413496 false Schedule C, Part II-B, Line 1 DETAILED DESCRIPTION OF THE LOBBYING ACTIVITY Other activities include dues paid to professional organizations which employ lobbyists. An insubstantial portion of the university's total activities are involved in legislative and regulatory matters of direct concern to higher education or of a compelling importance to Rice in particular. Institutional efforts to influence legislation are directed by the office of Public Affairs. The university does not have a lobbying office in Washington or Austin or employ anyone in those cities to engage in lobbying. During this period, the university did employ one full-time person whose primary assignment included federal and state lobbying activity and did employ an outside registered lobbying firm in Washington. Activities included contacts by letters, phone calls, and meetings with legislators, members of their staffs, or other governmental officials and meetings with local citizens regarding issues. The total amount spent by Rice in lobbying represents an insignificant part of the university's total expenditures , even taking into consideration the most generous allowances for any activities that may be defined as lobbying by Rice employees outside the office of public affairs working on behalf of the university. Rice also pays membership dues to associations of educational institutions and those organizations may in turn lobby on behalf of the interests of their members. 690951 15261402 X X X false 7700629000 49566000 775899000 240208108 342518331 11556561 7931811000 7844941000 66014000 184442739 220149781 154683219 19935739 7700629000 8080292000 78362000 13839000 209870916 101183195 16497889 7844941000 6166323000 50598000 2159989000 183252814 98677375 14687811 8080292000 6506177000 34638000 -71049000 171583591 119649118 12210291 6166323000 0.4099 0.2194 0.3707 false false 40470000 40470000 2267067000 883170000 1383897000 549100000 415949000 133151000 1557518000 4897459000 F Partnership and life insurance Other assets 181256000 F Investments in real estate and other physical assets 1039846000 F SWAPs 1619000 F Less subsidiary corporations 6120180000 Life Income Annuities 132625889 Other liabilities 132625889 X Schedule D, Part III, Line 4 Collections of art - description of collections The University accepts, from time to time, donations of art, historical treasures or similar assets. Such items are available for public exhibition and scholarly research. The University is a steward of these assets, preserving them for future generations. The asset amount reported for art held for public exhibition includes the construction and installation costs for outdoor sculpture. Schedule D, Part V, Line 4 Intended uses of endowment funds The University's endowment earnings distribution policy guides the rate at which funds are released from the endowment for current spending. The policy reflects the desire to balance the current resource needs of the University with the long-term objective of preserving the purchasing power of the endowment for future generations and ensuring reasonable year-over-year stability of future endowment payouts. Under the policy, allowable endowment spending is between four percent and six and one-half percent of the trailing three year average endowment market value, with a targeted range of four and one-half percent to five and one-half percent in the intermediate range. Endowment contributions include Board-approved transfers from other institutional funds and other additions for which there is no specific line on the schedule. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote The University is exempt from federal income tax to the extent provided under Section 501(c)(3) of the Internal Revenue Code. The IRS issued a determination letter in January 1938 that recognized the University as exempt from federal income tax under Section 501(c)(3). The University has 11 subsidiary corporations that are included in the consolidated financial statements. Two of these subsidiary corporations are exempt from federal income taxes under 501(c)(2), two are exempt under 501(c)(3), one is exempt under 501(c)(4), four are exempt under 501(c)(25) and two are subject to taxation. The University is classified as an organization that is not a private foundation under Section 509(a) of the Internal Revenue Code because it is described in Sections 509(a)(1) and 170(b)(1)(A)(ii) and, as such, gifts to the University qualify for deduction as charitable contributions to the extent provided by law. The University and its subsidiary corporations that are exempt from federal income tax are required to pay federal income tax on unrelated business income. The amount of income tax expense for unrelated business income for the University and its subsidiary corporations was immaterial for the years ended June 30, 2024 and 2023, respectively. The University is part of a small group of universities that are subject to an excise tax of 1.4% on the University's net investment income and the net investment income of its subsidiary corporations. The excise tax is recognized as a reduction of the University's investment returns. The portion of the excise tax associated with the current period realized gains was $3,411 and $3,876 for the years ended June 30, 2024 and 2023, respectively. U.S. GAAP requires the University to evaluate its tax positions to recognize a tax liability (or asset) if the University has taken an uncertain tax position that, more likely than not, would not be sustained upon examination by the IRS. The University has analyzed the tax positions taken and has concluded that as of June 30, 2024, there are no significant uncertain positions taken. true true true true true false true false false false false false false false false true false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY The University includes a statement of its racially nondiscriminatory policy toward students in brochures, catalogues, and other written communications with the public dealing with student admissions, programs and scholarships. Schedule E, Part I, Line 4(d) RECORDS AND COPIES MAINTAINED BY THE ORGANIZATION Rice makes every effort within the context of a large university to retain copies of all catalogues, brochures, announcements, and other written communications to the public dealing with student admission, programs and scholarships. In addition to written communications, the Library also maintains an electronic archive of websites that the University has published. Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT The University receives research and instructional grants and contracts, fellowships and student aid awards from various state and federal agencies. true Central America and the Caribbean 0 0 Fundraising,Program Services,Speaking engagements,Conference Travel Programs with local universities, research field work 163284 East Asia and the Pacific 0 0 Fundraising,Program Services,Speaking engagements,Conference Travel Programs with local universities, research field work 905101 Europe (Including Iceland and Greenland) 1 2 Fundraising,Program Services,Speaking engagements,Conference Travel Educational program for architecture students, programs with local universities, research field work 2776314 Middle East and North Africa 0 1 Fundraising,Program Services,Speaking engagements,Conference Travel Programs with local universities, research field work 70688 North America (Canada & Mexico only) 0 0 Fundraising,Program Services,Speaking engagements,Conference Travel Programs with local universities, research field work 42888 South Asia 0 1 Program Services,Speaking engagements,Conference Travel Programs with local universities, research field work 183497 Sub-Saharan Africa 0 1 Program Services Research field work 539800 Central America and the Caribbean 0 0 Investments Investments 2631807016 Europe (Including Iceland and Greenland) 0 0 Investments Investments 94212481 South America 0 0 Fundraising,Program Services,Speaking engagements,Conference Travel Research field work and programs with local universities 2667242 Sub-Saharan Africa 0 0 Grantmaking Grantmaking 4025451 North America (Canada & Mexico only) 0 0 Investments Investments 26336095 Europe (Including Iceland and Greenland) 0 0 Grantmaking Grantmaking 673338 1 5 0 0 1 5 2764403195 0 2764403195 Sub-Saharan Africa PUBLIC HEALTH 138242 WIRE TRANSFER FMV Sub-Saharan Africa PUBLIC HEALTH 82716 WIRE TRANSFER FMV Sub-Saharan Africa PUBLIC HEALTH 966151 WIRE TRANSFER FMV Sub-Saharan Africa PUBLIC HEALTH 32927 WIRE TRANSFER FMV Sub-Saharan Africa PUBLIC HEALTH 176133 WIRE TRANSFER FMV Sub-Saharan Africa PUBLIC HEALTH 827838 WIRE TRANSFER FMV Sub-Saharan Africa PUBLIC HEALTH 23130 WIRE TRANSFER FMV Sub-Saharan Africa PUBLIC HEALTH 13829 WIRE TRANSFER FMV Sub-Saharan Africa PUBLIC HEALTH 265793 WIRE TRANSFER FMV Sub-Saharan Africa PUBLIC HEALTH 121972 WIRE TRANSFER FMV Sub-Saharan Africa PUBLIC HEALTH 478851 WIRE TRANSFER FMV Sub-Saharan Africa PUBLIC HEALTH 77554 WIRE TRANSFER FMV Sub-Saharan Africa PUBLIC HEALTH 718400 WIRE TRANSFER FMV Sub-Saharan Africa PUBLIC HEALTH 20065 WIRE TRANSFER FMV Sub-Saharan Africa PUBLIC HEALTH 62061 WIRE TRANSFER FMV Sub-Saharan Africa PUBLIC HEALTH 19789 WIRE TRANSFER FMV Europe (Including Iceland and Greenland) Public Health 559720 Wire Transfer FMV Europe (Including Iceland and Greenland) Public Health 113618 Wire Transfer FMV 18 0 true false true true true true Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds The university ensures the grants are used for proper purposes and are not diverted from their intended use. 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; SOUTH AMERICA-Accrual; SOUTH ASIA-Accrual; SUB-SAHARAN AFRICA-Accrual Schedule F, Part II, Line 1 Method used to account for expenditures on org's financial statements EUROPE (INCLUDING ICELAND AND GREENLAND; SUB-SAHARAN AFRICA-Accrual, Luncheon 638040 566725 71315 0 0 0 0 0 268895 Gala 327079 172077 155002 0 0 0 0 0 110624 5 431491 420578 10913 0 0 0 0 0 144585 1396610 1159380 237230 0 0 0 0 0 524104 524104 -286874 true Scholarships applied to student accounts 5302 201364169 FMV Applied to account Scholarships paid out to students 2401 72656665 FMV Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. Institutional need and merit awards, government grants and outside scholarships provided aid to 5,302 students during the year. Federally subsidized loans are awarded to eligible students based on need. Approximately $72.6 million was paid directly to students (Form 990, Part III, line 4a) with the remainder applied internally to tuition, fees, and room and board. X X X X X true true X X X X X X false true false false false false false true false Reginald Desroches President 933686 0 300000 0 52500 0 106490 0 263151 0 1655827 0 0 0 David Leebron Former President 2642839 0 0 0 43216 0 41490 0 30753 0 2758298 0 0 0 Kathy Dantley Warren Former Officer (to Mar 23) 693516 0 0 0 1610 0 11183 0 9914 0 716223 0 0 0 Seiichi Matsuda Former Interim Provost 340870 0 10000 0 30000 0 41490 0 10351 0 432711 0 0 0 Linda Thrane Former Officer 272076 0 0 0 26960 0 33543 0 7159 0 339738 0 0 0 Jeffrey Barnes Former Officer 195421 0 7000 0 22500 0 19280 0 9770 0 253971 0 0 0 Allison Thacker Chief Investment Officer, Treasurer, Assistant Secretary 1083663 0 0 0 42000 0 31590 0 42731 0 1199984 0 0 0 Amy Dittmar Provost and Executive Vice President for Academic Affairs 698259 0 50000 0 30000 0 99823 0 24862 0 902944 0 0 0 Ramamoorthy Ramesh Executive VP for Research 563993 0 100000 0 52500 0 99823 0 41605 0 857921 0 0 0 Kelly Fox Executive VP for Finance and Administration 578593 0 80000 0 52500 0 82323 0 41605 0 835021 0 0 0 Cindy Melton Associate Treasurer and Assistant Secretary 332150 0 132000 0 52500 0 41490 0 41462 0 599602 0 0 0 Caroline Levander VP for Global 378550 0 35000 0 49500 0 70657 0 27742 0 561449 0 0 0 Omar Syed Vice President, General Counsel and Secretary 440515 0 30000 0 19700 0 49090 0 2381 0 541686 0 0 0 Ronica Smucker Interim VP for Development and Alumni Affairs (Thru Dec 23) 393530 0 0 0 30000 0 41490 0 26752 0 491772 0 0 0 Katrina Spencer CFO & Treasurer 368484 0 40000 0 39600 0 30451 0 524 0 479059 0 0 0 Brian Padley VP for Information Technology and Chief Information Officer 382204 0 0 0 30000 0 41490 0 19852 0 473546 0 0 0 Joseph Davidson Senior Associate General Counsel and Assistant Secretary 316868 0 52500 0 0 0 41490 0 31755 0 442613 0 0 0 Yvonne Romero Da Silva VP for Enrollment 290090 0 30000 0 44000 0 41490 0 21202 0 426782 0 0 0 Paul Cherukuri Vice President for Innovation and Chief Innovation Officer 212042 0 45000 0 30000 0 65932 0 29800 0 382774 0 0 0 Bradley Fralic Associate VP Finance, Controller, Associate Treasurer 280990 0 0 0 8939 0 36904 0 23659 0 350492 0 0 0 Claire Nelson Associate Treasurer and Assistant Secretary 245517 0 0 0 3489 0 31740 0 38989 0 319735 0 0 0 Veta Byrd-Perez Senior Associate General Counsel and Assistant Secretary 211498 0 7000 0 30000 0 28939 0 39973 0 317410 0 0 0 Larry Perez Associate Treasurer and Assistant Secretary 228462 0 0 0 6622 0 29422 0 28276 0 292782 0 0 0 Stephen Bayer Vice President for Development & Alumni Relations (Beg Sep 23) 219438 0 0 0 20000 0 8333 0 10850 0 258621 0 0 0 Jeffrey Falk Interim Vice President for Public Affairs 215995 0 0 0 11503 0 19598 0 10263 0 257359 0 0 0 Melinda Spaulding Chevalier Vice President of Public Affairs (Beg Aug 23) 199833 0 0 0 6742 0 8333 0 11829 0 226737 0 0 0 Eno-Obong Oregbesan Assistant Secretary 170439 0 0 0 0 0 14645 0 32041 0 217125 0 0 0 Cynthia Wilson Deputy Secretary to the Board of Trustees 173328 0 0 0 7389 0 19699 0 13726 0 214142 0 0 0 Peter Rossky Former Dean 429425 0 5000 0 44000 0 41490 0 30419 0 550334 0 0 0 Robert Yekovich Former Dean 451999 0 0 0 40002 0 41490 0 14006 0 547497 0 0 0 Peter Rodriguez Dean of Jones Graduate Business School of Business 636777 0 0 0 20048 0 91490 0 30336 0 778651 0 0 0 Luay Nakhleh Dean of George R. Brown School of Engineering 542864 0 5000 0 22500 0 31590 0 1500 0 603454 0 0 0 Thomas Killian Dean of Wiess School of Natural Sciences 398589 0 5000 0 30000 0 41490 0 29965 0 505044 0 0 0 Thomas McClelland Director of Athletics (Beg Aug 23) 258827 0 0 0 7000 0 5000 0 14745 0 285572 0 0 0 John Lawrence Investment Manager 520168 0 448000 0 22500 0 31590 0 38636 0 1060894 0 0 0 Craig Beach Investment Manager 458174 0 448000 0 51900 0 41490 0 32892 0 1032456 0 0 0 Michael Bloomgren Football Coach 849912 0 75000 0 42000 0 31590 0 32491 0 1030993 0 0 0 Brent Smith Associate Professor 910580 0 0 0 30000 0 41490 0 29649 0 1011719 0 0 0 Kerry Back Professsor of Finance 817356 0 0 0 49500 0 41490 0 21619 0 929965 0 0 0 Schedule J, Part I, Line 1a First-class or charter travel The University's written travel policy permits payment only of necessary and reasonable expenses for travel on University business. The University's policies constitute an accountable plan and are designed to comply with applicable Internal Revenue Service rules. Coach class airfare is required except in certain limited circumstances; these include medical necessity, contractual obligations, and scheduled flight segments over six hours in length, when business class fares may be used with prior approval. In rare cases, when an exception applies and no business class fare is available, a first class fare may be used, again with prior approval and documentation. Charter travel is sometimes employed for athletics teams, including coaches, when such travel is the least costly method of transportation. Schedule J, Part I, Line 1a Travel for companions Under the University's travel policy, the University does not pay the travel cost of companions, unless there is a valid University business purpose for the companion's travel. Written approval must be obtained in advance from the president, provost, or appropriate dean / vice president documenting the reason for incurring the expense. When the University uses chartered air or ground transportation, travel for companions may occasionally be included if the University incurs no additional cost. Schedule J, Part I, Line 1a Housing allowance or residence for personal use The president of the University is required to occupy University-owned housing as a condition of employment. The fair market value of the housing provided, based on the appraised value of the house, is reported in the president's compensation as a non-taxable benefit. Schedule J, Part I, Line 1a Health or social club dues or initiation fees Social club dues were paid for the president of the University and are included in compensation when appropriate. Schedule J, Part I, Line 1a Personal services See the response to Schedule J, Part I, Line 1A for Housing. The President is also provided chauffeured service when he leaves the University property. Schedule J, Part I, Line 3 Arrangement used to establish the top management official's compensation The CORD (Compensation and Organizational Development) Committee of the Board of Trustees of Rice University has a procedure in place to assure the Board of Trustees that compensation arrangements for the president and other organization officers and managers are reasonable. The procedure is designed to comply with the requirements of Section 4958 of the Internal Revenue Code and Internal Revenue Service regulations. The CORD Committee maintains a roster of disqualified persons, as defined by the IRS, for whose compensation the procedure is used. The roster is reviewed periodically but at least annually. The procedure was last evaluated with the full board in December 2014. The procedure requires three elements as follows: 1) The terms of transactions are approved by the organization's governing body, or a committee thereof, whose members have no conflict of interest with respect to the arrangement. The Board of Trustees delegated authority to the CORD Committee to act on behalf of the Board in these matters at its meeting on March 25, 1999. Compensation arrangements are reviewed and approved by the CORD Committee before the effective date. Members of the CORD Committee recuse themselves from any vote in which there is a potential or actual conflict of interest. 2) The governing body or committee obtains and relies upon appropriate, comparable data before making its determination. Rice participates in the annual survey by Willis Towers Watson of select universities' executive compensation, and additional appropriate peer surveys. These reports reflect executive compensation in universities of a stature similar to that of Rice, and with which Rice competes for faculty and staff. The CORD Committee may also seek and rely on other relevant information, including compensation paid by other taxable and tax-exempt organizations for functionally comparable positions, geographic market forces, and actual written offers from similar institutions competing for services. The CORD Committee relies on this data and documents any determinations that reasonable compensation is an amount more than the range of comparable data. 3) The governing body or committee adequately documents the basis for making determinations concurrently with making decisions. Minutes documenting the deliberations of the CORD Committee are prepared contemporaneously for review and approval at its next meeting. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan The following officer(s), director(s), trustee(s), key employee(s) and/or highest compensated employees participated in or received payment from a supplemental non-qualified retirement plan in calendar year 2023, subject to satisfying vesting conditions related to continuing service to the university. Award amounts that may or may not have vested are shown below. Amounts that became taxable during the year due to vesting or distribution are included in Part II, column B (iii). Accruals for awards that have not vested are included in the amounts shown in Part II, column C. David Leebron: $1,823,675 prior year awards vested and taxable, $987,277 distributed. Reginald DesRoches: $200,000 current year award; $65,000 accrual for awards not yet vested. Amy Dittmar: $100,000 current year award; $58,333 accrual for awards not yet vested. Ramesh Ramamoorthy: $100,000 current year award; $58,333 accrual for awards not yet vested. Kelly Fox: $70,000 current year award; $40,833 accrual for awards not yet vested. Peter Rodriguez: $50,000 current year award; $66,667 accrual for awards not yet vested. Caroline Levander: $50,000 current year award; $29,167 accrual for awards not yet vested. Omar Syed: $30,000 current year award; $17,500 accrual for awards not yet vested. Paul Cherukuri: $50,000 current year award; $29,167 accrual for awards not yet vested. Thomas McClelland: $50,000 current year award; $5,000 accrual for awards not yet vested. Stephen Bayer: $50,000 current year award; $8,333 accrual for awards not yet vested. Melinda Spaulding Chevalier: $50,000 current year award; $8,333 accrual for awards not yet vested. Schedule J, Part I, Line 7 Non-fixed payments Contracts of certain individuals include provisions that allow them to receive additional compensation if specific criteria or circumstances are met or performance thresholds are achieved. Payments were made under such contracts in calendar year 2023 to Reginald DesRoches, John Lawrence, Michael Bloomgren, Carmen Thompson, Craig Beech, and Cindy Melton. Additionally, as noted in part II of Schedule J, discretionary bonuses were provided to others based on management's assessment of their performance. A City of Houston Higher Education Finance Corporation 760387014 442378DZ5 2010-06-02 139887000 CONSTRUCTION false false false B City of Houston Higher Education Finance Corporation 760387014 442378GP4 2024-02-29 351378192 CAPITAL PROJECTS false false false C City of Houston Higher Education Finance Corporation 760387014 44237LA89 2024-06-27 16635000 SHORT TERM CAP. FINANCING false false false A 111205000 139887000 1256011 1186594 124444395 13000000 2018 false false true true B 352069871 1378192 36816615 79163697 234711367 true false false true C 16635000 11920000 4715000 2024 true false true true A false false false false true 0.0 0.0 0.0 false false true B false false false false true 0.0 0.0 0.0 false false true C false false false false 0.0 0.0 0.0 false false true A false false false true false false false false true B false true false false false false false false true C false false true false false false false false true A true B true C true Schedule K, Part I, Column (c) BOND ISSUE THIS ISSUE REPRESENTS THE UNIVERSITY'S COMMERCIAL PAPER PROGRAM SERIES A. AS OF FYE THERE WAS 16,635,000 OUSTANDING FOR THIS PROGRAM WHICH WAS SPREAD ACROSS THREE ISSUES, ISSUED ON 5/1/2024, 6/17/2024, AND 6/27/2024. ALL THREE ISSUES MATURED BEFORE 10/1/2024 AND WILL NOT APPEAR ON NEXT YEAR'S SCHEDULE K, SO THEY ARE REPRESENTED AS A SINGLE LINE ITEM FOR REPORTING PURPOSES Schedule K, Part II, Line 3 COLUMN B THE TOTAL PROCEEDS OF THE ISSUE EXCEED THE ISSUE PRICE DUE TO INVESTMENT EARNINGS THROUGH 6/30/24 Schedule K, Part II, Line 11 COLUMN A THE OTHER SPENT PROCEEDS ARE THE PROCEEDS OF THE ISSUE THAT WERE USED TO REDEEM BONDS OF THE SERIES 2010 Schedule K, Part II, Line 11 COLUMNS B & C THE OTHER SPENT PROCEEDS ARE THE REFUNDING PROCEEDS OF THE RESPECTIVE ISSUE THAT ARE NO LONGER IN ESCROW Schedule K, Part III ALL ISSUES THE UNIVERSITY ACTIVELY MONITORS PRIVATE BUSINESS USE AND ANY PRIVATE BUSINESS USE OCCURING IN FACILITIES IS FIRST APPLIED TO EQUITY Schedule K, Part IV, Line 2c COLUMN A Issuer name: City of Houston Higher Education Finance Corporation The calculation for computing no rebate due was performed on 06/30/2018 David Leebron Former Officer Personal loan X 950000 486475 false true true Thomas Killian Key Employee Personal loan X 100000 49947 false true true 536422 Brian Patterson Joint Venture 25497077 Principal of partnership in which university invests false Robert Dittmar Spouse of Officer 506544 Employee false Isaac Davidson Child of officer 140728 Employee false X 5 690951 Market value X 100610 Market value X 227 27813216 Market value X 1 430000 Market value X Personal property of academic interest 3 908 Market value X Mineral rights 4 1018116 Market value 0 false true false Schedule M, Part I Explanations of reporting method for number of contributions Securities - Publicly traded - Number of contributions Art - Works of art - Number of donors Other - Personal property of academic interest Number of donors Other - Mineral rights Number of donors Real estate - Residential - Number of items Form 990, Part VI, Line 11b Review of form 990 by governing body A draft copy of Form 990 is discussed with the Audit Committee, a draft copy of compensation related disclosures (Part VII and Schedule J ) is shared with the Compensation and Organizational Development (CORD) Committee of the Board of Trustees and the final Form 990 is provided to all of the trustees before it is filed. The Form 990 is prepared by the Controller's Office in consultation with other University offices, reviewed within the Controller's office, the office of General Counsel and Human Resources, reviewed by PricewaterhouseCoopers as the paid preparer, reviewed by the Vice President for Finance and Administration and the President together with senior management before it is provided to the trustees. Form 990, Part VI, Line 12c Conflict of interest policy A conflict of interest questionnaire is completed annually by officers, directors, trustees, key employees and other disqualified persons. Members of the University's Board of Trustees and senior management may, from time to time, be associated, either directly or through interlocking board memberships, with entities doing business with the University. The University employs a conflict of interest policy that requires any such associations be disclosed in writing on an annual basis. When such associations exist, measures are taken to mitigate any actual or perceived conflict, including recusal of the board member from any decisions involving the entity doing business with the University. The transactions with the entities associated with trustees or senior management are not considered to be significant and may include investment management, common participation in investment vehicles, or the purchases of goods or services. When the University enters into such transactions, the prices are set at fair market value and the terms are no less beneficial than those offered to others in the ordinary course of business. Form 990, Part VI, Line 15a Process to establish compensation of top management official Compensation of the organizations' officers is determined by the CORD Committee of the Board of Trustees based on comparability data. The deliberations and decisions of the CORD Committee of the Board of Trustees are contemporaneously documented as are all meetings of the board and its committees. Further detail is provided in Schedule J, Part III. Form 990, Part VI, Line 15b Process to establish compensation of other employees See Pt VI, Line 15a and Schedule O Form 990, Part VI, Line 19 Required documents available to the public The articles of incorporation are filed with the state and are publicly available. The financial statements are available to the public on the University's website and by request. Copies of the Form 990 and Form 990-T tax returns are available to the public on request. The University's conflict of interest policy is available on the University's website. Form 990, Part VIII, Line 11d Other Miscellaneous Revenue - Total Revenue: 21856758, Related or Exempt Function Revenue: 21856758, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances Change in net assets - subsidiary corporations - 1188456528; WMR BNA Holdings LLC 6100 Main St Houston TX 77005 814267081 Holding Company DE 27398 11878317 William Marsh Rice University WMR WS Holdings LLC 6100 Main St Houston TX 77005 823639744 Holding Company DE 676552 29535199 William Marsh Rice University WMR BNA IV Holdings LLC 6100 Main St Houston TX 77005 920551850 Holding Company DE -476617 31896221 William Marsh Rice University Rice HSA Funding LLC 6100 Main St Houston TX 77005 920508540 Holding Company TX 1764274 14800000 William Marsh Rice University Rice HSA Holdings LLC 6100 Main St Houston TX 77005 920520795 Holding Company TX -4000 4000000 William Marsh Rice University Rice Land Lumber Co 6100 Main St Houston TX 77005 746045400 Timber holding company LA 501(c)(2) William Marsh Rice University true RU Corporation 6100 Main St Houston TX 77005 746081393 Real estate title holding TX 501(c)(2) William Marsh Rice University true Rice Trust Inc 6100 Main St Houston TX 77005 741698122 Trust company TX 501(c)(4) William Marsh Rice University true THE CENTER FOR COLLABORATIVE RESEARCH INC 6100 Main St Houston TX 77005 383751177 Type 1 supporting organization TX 501(c)(3) Type I William Marsh Rice University true RICE 360 INSTITUTE FOR GLOBAL HEALTH 6100 Main St Houston TX 77005 841923490 Type 1 supporting organization TX 501(c)(3) Type I William Marsh Rice University true The Welch Institute 6100 Main St Houston TX 77005 853543248 Type 3 supporting organization TX 501(c)(3) Type III-FI William Marsh Rice University false Rice RE Holdings I 6100 Main St Houston TX 77005 830537542 Real estate title holding TX 501(c)(25) William Marsh Rice University true Rice RE Holdings 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false 0.95 WMR Redcar II LLC PO Box 531847 Los Angeles CA 90053 812828751 Real estate DE William Marsh Rice University Excluded 614019 94082014 false false 0.98 WMRBNA II GP 1033 Demonbreun Suite 600 Nashville TN 37203 814219211 Real estate TN William Marsh Rice University Excluded 27398 11878317 false false 0.95 WMRBNA Fund III Holdings LLC 1033 Demonbreun Suite 600 Nashville TN 37203 822127638 Real estate DE William Marsh Rice University Excluded 2869724 58706044 false false 0.98 WMRBNA Fund IV 1033 Demonbreun Suite 600 Nashville TN 37203 883587713 Real estate TN William Marsh Rice University Excluded -476617 31896221 false false 0.975 WMR White Star LLC 16192 Coastal Highway Lewes DE 19958 825471150 Real estate DE WMR White Star Holdings LLC Excluded 1294697 39120149 false false 0.80 WMR White Star II LLC 16192 Coastal Highway Lewes DE 19958 833118340 Real estate DE WMR White Star Holdings LLC Excluded -356990 3936361 false false 0.7986 Amador R Partners LP 5060 Canyon Crest Dr San Ramon CA 94582 384057107 Alternative investment DE William Marsh Rice University Unrelated -5966 1245293 false -5966 false 0.8522 Artea Secondaries I LP 981766189 Alternative investment JE William Marsh Rice University Excluded 0 4496230 false false 0.501 LVA4 Co-Investment III LP 712 Main Street Suite 2500 Houston TX 77002 475564692 Alternative investment DE William Marsh Rice University Excluded -616791 34997408 false false 0.9999 LVA5 Co-Investment III LP 712 Main Street Suite 2500 Houston TX 77002 832884573 Alternative investment DE William Marsh Rice University Excluded 1009 3320325 false false 0.9999 Mercury Affiliates XV LLC 3737 Buffalo Speedway Suite 1750 Houston TX 77098 881334087 Alternative investment DE William Marsh Rice University Excluded 0 7981455 false false 0.7418 Mercury Affiliates XIX LLC 3737 Buffalo Speedway Suite 1750 Houston TX 77098 921582702 Alternative investment DE William Marsh Rice University Excluded 0 10000000 false false 0.9999 BOREALIS STRATEGIC 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