Rit Global Delivery Corporation

“The top management official and officers of rit global delivery corporation are compensated by rochester institute of technology (rit or university), a related organization. Rit utilizes the following in determining the compensation of the top management officials: the executive compensation subcommittee shall decide upon matters of executive salary and benefits, and annually shall review the compensation of the officers of the university, making a recommendation concerning the same to the executive committee for its final approval. The president annually will meet with the executive compensation subcommittee and provide it with an evaluation of the officers of the university other than the president, and a proposal for their compensation. The chair of the board of trustees annually will meet with the executive compensation subcommittee and provide it with an evaluation of the president and a proposal for the president's compensation. Biennially the executive compensation subcommittee utilizes various tools to review the compensation for the officers: independent consultant and compensation survey based on a salary analysis of comparable positions in like circumstances.”

“Prior to filing the form 990, it was made available to the governing body for their review via a secure website. Management provided constructive notice to each member that the return was available online and provided instructions on how to access the form. A brief overview of the return was also made available to the members.”

“Rit global delivery corporation (gdc) is a controlled entity of rochester institute of technology (rit or university). All members of the governing body are also either a trustee or officer of rit, which also has a written conflict of interest policy. The practices of gdc largely mirror those of rit. Management contacted the remaining members to determine if any conflict of interest existed. Below is a description of rit's written conflict of interest policy: the university's conflict of interest policy applies to all members of the board of trustees. All trustees and officers are required to disclose potential conflicts of interest as soon as possible. Additionally, on an annual basis, the secretary of the university distributes a conflict of interest disclosure form to all trustees and officers, soliciting disclosure of any actual or potential conflicts. Upon receipt of information concerning a contract or transaction involving a potential conflict of interest, the secretary of the university will arrange for the conflict of interest committee, a subcommittee of the risk and audit committee, to consider the material facts concerning the fairness and business case of the proposed contract or transaction. The committee shall approve only those contracts or transactions in which the terms are fair and reasonable and the arrangements are consistent with the best interests of the university. In any event, such members will neither vote nor discharge their duties with respect to any matter concerning a conflict. The committee shall set forth the basis for its decision with respect to approval of contracts or transactions involving conflicts of interest in the minutes of the meeting at which the decision is made, including the basis for determining that the consideration to be paid is fair to the university. The individual conflict of interest and commitment (icic) policy requires all regular rit faculty and staff to disclose potential, real, or perceived conflicts of interest or commitment annually to their immediate supervisor. Additionally, the icic policy requires that employees submit an annual disclosure and/or a disclosure when circumstances change that may create a potential, real, or perceived conflict.”

“The audited consolidated financial statements of rochester institute of technology (rit or university), the parent organization of rit global delivery corporation, are available at the university's website at www.rit.edu. Other documents are available upon request.”

“Ellen m granberg (former officer) - former president, resigned position june 2023.”

“The financial statements of rit global delivery corporation are consolidated with the statements of position and activities of rochester institute of technology (rit or university). The risk and audit committee of rit's board of trustees has responsibility for oversight of the audit of the consolidated financial statements and the selection of an independent accountant.”