Fordham University Controllers Office

“Relationships: family relationship - peter stace, officer/svp for enrollment & strategy, has a family relationship with margaret ball, officer/general counsel & secretary of the university.”

“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: COMPENSATION FOR THE UNIVERSITY'S PRESIDENT IS REVIEWED ON A REGULAR BASIS BY A COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES USING SALARY DATA FROM SIMILAR INSTITUTIONS. ONCE DETERMINED, THE PRESIDENT'S PROPOSED COMPENSATION IS SUBMITTED FIRST TO THE EXECUTIVE COMMITTEE, WHICH CONSISTS OF INDEPENDENT BOARD MEMBERS, THEN TO THE FULL BOARD OF TRUSTEES, FOR REVIEW AND ACCEPTANCE. Joseph M. McShane, S.J., who has led Fordham University for nearly two decades, fostering one of the most remarkable periods of sustained growth in the 180-year history of the university, stepped down as president on June 30, 2022. He served 19 years in the position. In February 2022, the Board of Trustees unanimously elected Tania Tetlow, J.D., the 33rd President of Fordham University. President Tetlow is the first layperson and the first woman to occupy the post in Fordham's 181-year history. She took office on July 1, 2022. COMPENSATION FOR OTHER UNIVERSITY OFFICERS IS ESTABLISHED USING SALARY BENCHMARKING DATA, AS WELL AS REVIEWS OF COMPENSATION DATA INCLUDED IN PUBLIC FILINGS OF COMPARABLE INSTITUTIONS. COMPENSATION LEVELS ARE REVIEWED AND ACCEPTED BY THE BOARD OF TRUSTEES BASED ON A REVIEW OF KEY DOCUMENTS, FILINGS, AND DISCUSSIONS REGARDING EMPLOYEE PERFORMANCE. PROCESS OF DETERMINING COMPENSATION IS CONDUCTED IN EXECUTIVE SESSION Of THE BOARD OF TRUSTEES MEETINGS IN ORDER TO PRESERVE CONFIDENTIALITY. COMPENSATION LEVELS THAT ARE AUTHORIZED AS A RESULT OF THIS PROCESS ARE DOCUMENTED.”

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

“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, moral and religious development of its students and prepares 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 by 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 and multinational 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 cultures. 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 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 world wide network of jesuit universities offers fordham faculty and students distinctive opportunities for 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, 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 fordham instituted a continuous university strategic planning (cusp) process in september 2015 to foster a culture of strategic thinking throughout the university and produce a strategic framework of priorities to guide planning. A dedicated committee of faculty and administrators engaged the university community in a process of discernment that yielded "a strategic framework for fordham's future: bothered excellence" which the board of trustees approved in september 2016. Since then, local planning units have developed initiatives that advance the priorities in ways appropriate to the unit's sphere of activity and in 2018 the univ”

“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 9,500 undergraduate students and 6,600 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.”

“Reclassifications: certain reclassifications of prior year amounts have been made to conform to the current year presentation.”

“Other changes in net assets: change in fair value of interest rate swap 5,136,602 change in post retirement health benefit obligation other than net periodic benefit cost 27,472,000 net periodic benefit cost other than service cost (1,245,000) change in fair value of perpetual trust 209,530 london pgm exp & currency adj (2,907,396) gain on refunding of debt 7,088,205 change in london net assets 18,770 change in london cash (237,939) ------------- total to form 990, part xi, line 9 35,534,772”