Fordham University

“Summary of Significant Changes to Governance Documents Since the Last Form 990 Filing The University has made key updates to Chapter Eight of its governance documents, refining the structure, roles, and responsibilities of its Officers and Vice Presidents. Notable changes include: Clarification of Officer Roles: Officers now explicitly include the President, Secretary, Assistant Secretary, Treasurer, and Assistant Treasurer, along with any other positions the Board deems necessary. Election and Appointment Process: Officers are formally elected by the Board upon nomination by the President, with a distinction that employees with officer-like titles are not automatically considered Officers unless explicitly elected by the Board. Authority and Responsibilities: Officers are required to be knowledgeable about their delegated duties and report directly to the Board. Any two offices may be held by the same person, except for President/Secretary and President/Treasurer. Vice President and Provost Appointments: The President now has the authority to appoint Vice Presidents and the Provost, who oversee academic programs and may execute contracts in the absence of the designated contracting Officer. Financial Oversight Enhancements: The Treasurer is explicitly responsible for managing financial records, overseeing audits, and ensuring compliance, with the ability to delegate administrative tasks as needed. Contractual Authority: Vice Presidents and the Provost have been granted the ability to execute contracts on behalf of the University under the President's direction. These revisions strengthen administrative efficiency, clarify governance structures, and reinforce the Board's oversight while streamlining executive authority.”

“Form 990 review: the office of finance works closely with kpmg llp, as paid preparer of fordham's tax-related filings, to prepare the form 990. Once prepared, the form undergoes a series of reviews by senior financial staff and leadership before submission to the audit and risk management committee of the board of trustees for review and approval. The board of trustees has delegated the responsibility for reviewing the return to the audit and risk management committee. Following a formal presentation to the audit and risk management committee and question and comment period, the return is approved and a copy of the final draft of the form 990 is provided to the full board of trustees prior to its filing.”

“Conflict of interest review: the university has a written conflict of interest policy covering all trustees, officers, and employees that requires, among other things, no individual may participate in a discussion or decision on any matter in which he or she has a material financial interest. All trustees, officers and individuals who have various manners of signing authority are required to certify compliance with the conflict of interest policy on an annual basis and to indicate whether the university does business with an entity in which they have a material financial interest. When such relationships exist, measures are taken to mitigate any actual or perceived conflict, including requiring that such transactions be conducted at arm's length, for good and sufficient consideration, based on terms that are fair and reasonable to and for the benefit of the university.”

“Compensation review: the board is committed to maintaining a rebuttable presumption of reasonableness in accordance with applicable federal and state laws governing not for profit compensation. Accordingly, the compensation committee of the board is charged to determine compensation for the president and other university officers, following the guidelines outlined in the committee's compensation charter and the spirit of the university's compensation philosophy. The committee conducts its review process as specified in the charter when hiring a new officer or negotiating or adjusting executive compensation arrangements. The compensation for the president is reviewed by the compensation committee of the board using compensation data from peer institutions, compiled by an independent compensation expert. After the review, the compensation committee of the board documents their rationale, makes a compensation recommendation, submits the decision to the executive committee for approval, and maintains records of the deliberations. The final determination is reported to the board in executive session. The president's compensation review took place in june of 2024.”

“Compensation review: upon the president's recommendation, the compensation committee of the board, consisting of independent board members with no conflicts of interest as defined by federal and state regulations, reviews compensation for other university officers. This review is conducted using relevant comparability data compiled by an independent compensation expert. Following the review, the committee determines compensation, documents the basis for its decision, and maintains appropriate records. The president then reports the committee's compensation determination to the board in executive session.”

“Document availability: fordham university's governing documents, conflict of interest policy and audited financial statements are currently available on the university's website.”

“SALARY REIMBURSEMENTS FOR VISITING PROFESSORS - Total Revenue: 655685, Related or Exempt Function Revenue: 655685, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; JOURNAL SUBSCRIPTIONS - Total Revenue: 269384, Related or Exempt Function Revenue: 269384, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; EDUCATIONAL CONFERENCE FEES - Total Revenue: 238464, Related or Exempt Function Revenue: 238464, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; ALUMNI RELATIONS - Total Revenue: 698243, Related or Exempt Function Revenue: 698243, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; TELECOMM - Total Revenue: 506366, Related or Exempt Function Revenue: 506366, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; IRS EMPLOYEE RENTENTION CREDIT - Total Revenue: 1642677, Related or Exempt Function Revenue: 1642677, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; OTHER PROG. REV - Total Revenue: 376578, Related or Exempt Function Revenue: 376578, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ;”

“Program service accomplishments: fordham university is an independent, not-for-profit, coeducational, institution of higher learning, in the jesuit tradition. Fordham university serves and educates approximately 9,900 undergraduate students and 5,500 graduate and professional students. The university awards baccalaureate, graduate, and professional degrees to students from fordham college at rose hill, fordham college at lincoln center, the gabelli school of business (undergraduate and graduate), the school of professional and continuing studies, the graduate schools of arts and sciences, education, religion and religious education, social service, and the school of law. A significant amount of financial assistance is provided to enable qualified students to study at the university. The university's principal locations include residential campuses in new york city and london, a campus in west harrison, new york, and a biological field station in armonk, new york. In addition to these locations, the university holds a number of affiliations with higher education institutions across the globe and offers online classes and online degree programs.”

“Change in value of interest rate swap - 331555; net periodic benefit cost other than service cost - 2257000; changes in post retirement health benefit other than net periodic benefit cost - -196000; change in fair value of perpetual trust - 400765; london pgm exp & currency adj - -3091318; change in london net assets - 228746; change in london cash - -222557; gain on refunding of debt - 1487714;”

“Mission statement: the mission of the university fordham university, the jesuit university of new york, is committed to the discovery of wisdom and the transmission of learning, through research and through undergraduate, graduate, and professional education of the highest quality. Guided by its catholic and jesuit traditions, fordham fosters the intellectual, social, and moral development of its students, preparing them for leadership in a global society. Characteristics of the university as a university - fordham strives for excellence in research and teaching, and guarantees the freedom of inquiry required for rigorous thinking and the quest for truth. Fordham affirms the value of a core curriculum rooted in the liberal arts and sciences. The university seeks to foster in all its students life long habits of careful observation, critical thinking, creativity, moral reflection, and articulate expression. In order to prepare citizens for an increasingly multicultural andmultinational society, fordham seeks to develop in its students an understanding of and reverence for cultures and ways of life other than their own. As a catholic university - fordham affirms the complementary roles of faith and reason in the pursuit of wisdom and learning. The university encourages the growth of a life of faith consonant with moral and intellectual development. Fordham encourages faculty to discuss and promote an understanding of the ethical dimension of what is being studied and what is being taught. Fordham gives special attention to the study of the living tradition of catholicism, and it provides a place where religious traditions may interact with each other and with contemporary culture. Fordham welcomes students, faculty, and staff of all religious traditions and of no religious tradition as valued members of this community of study and dialogue. As a jesuit university - fordham draws its inspiration from the dual heritage of christian humanism and ignatian spirituality, and consequently sees all disciplines as potential paths to god. Fordham recognizes the dignity and uniqueness of each person. A fordham education at all levels is student-centered, and attentive to the development of the whole person. Such an education is based on close collaboration among students, faculty, and staff. Fordham is committed to research and education that assist in the advancement of knowledge, the alleviation of poverty, the promotion of justice, the protection of human rights, and respect for the environment. Jesuit education is cosmopolitan education. Therefore, education at fordham is international in its scope and in its aspirations. The worldwide network of jesuit universities offers fordham faculty and students distinctive opportunities for international exchange and collaboration. As a university in new york city - as home to people from all over the globe, as a center of international business, communication, diplomacy, and the arts and the sciences, new york city provides fordham with a special kind of classroom. Its unparalleled resources shape and enhance fordham's professional and undergraduate programs. Fordham is privileged to share a history and a destiny with new york city. The university recognizes its debt of gratitude to the city and its own responsibility to share its gifts for the enrichment of our city our nation and our world. Strategic planning: in 2021, the university initiated a 5-year plan, "educating for justice: fordham university's vision and strategic plan, 2021-2026," which replaced the continuous university strategic planning (cusp) process (2015-2021). Educating for justice re-envisions fordham's dynamic mission - a mission rooted in its 183-year history-for the post-pandemic world of the mid-twenty-first century. The plan charts a path for the university to become ever more fully itself through mission-driven innovation. The plan's three goals are: educate students as global citizens and transformative leaders for ju”