Rider University

“The executive committee shall be composed of the officers of the board, the chairs of all standing committees, the immediate past board chair if still a member of the board, and up to two (2) at-large members appointed by the board chair following consideration of the recommendations of the governance committee as reviewed and approved by the executive committee. All members shall be voting members, except for the president, who shall be an ex-officio member without vote. The executive committee is empowered to act for the board between regular board meetings on all matters except for the following which shall be reserved for the board: (i) presidential selection and termination, (ii) board member and board officer election or removal, (iii) changes in the mission and purposes of the university, (iv) amendments to the certificate of incorporation and by-laws, (v) incurrence of corporate indebtedness, (vi) sale or other disposition of real estate and other tangible property, (vii) adoption of the annual budget, (viii) conferral of degrees, and (ix) amendments to or repeal of any resolution previously adopted by the board.”

“The irs form 990 has been prepared by an independent public accounting firm with the assistance of management. The audit and enterprise risk management committee of the university's board of trustees performed a review of the form 990 and all applicable schedules prior to submission as part of an audit and enterprise risk management committee meeting. In addition, the form 990 and applicable schedules were posted on the university's intranet for the entire board of trustees to review prior to submission.”

“The university has a written conflict of interest policy, and an annual compliance review process which includes: - solicit feedback from division heads on proposed staff in their units who should participate in the annual reporting and review process. Any individual who is considered to have significant responsibility for institutional operations or purchasing is included. The policy requires that persons involved in decision making disclose financial or other interests - either current or proposed - that impair or may appear to impair their independent, unbiased judgment. - distribute the conflict of interest policy and questionnaire for disclosure of potential conflicts of interest to all individuals so identified. In 2021, 136 individuals (officers, trustees, coaches, and administrators) received and completed the conflict questionnaire. - review of all conflict questionnaire responses by the university board of trustees' human resources committee, which serves as the conflict committee under the university's bylaws. The human resources committee reports its findings to the board of trustees, which is responsible for acting on the committee's findings - in particular on any conflict that might be identified. By policy, any proposed business relationship between a trustee or their related entity must be evaluated and acted on prior to its potential implementation. No such relationship currently exists. - any board member with a conflict will recuse himself/herself from any votes regarding the matter.”

“The senior compensation committee of the board of trustees engages an independent consulting firm to undertake a reasonableness review of top management compensation. Top management includes the institution's president and vice presidents. The reasonableness review includes consideration of comparability data prepared by the consultants which is provided to all committee members and to all members of the university's board of trustees. The benchmark data considered includes both salary and total compensation information. Contemporaneous minutes are maintained for both the senior compensation committee of the board and for the full board of trustees meetings. This process was last undertaken in 2021. The university consistently utilizes higher education benchmarking data to assess the reasonableness of key employees' compensation. Faculty compensation is governed by a collective bargaining agreement.”

“The university's governing documents, conflict of interest policy, and financial statements are not made available to the public.”

“The university's cabinet took pay reductions for the last seven months of calendar year 2020 in order for the university to reduce its expenses during the height of the covid-19 pandemic. Those reductions continued into calendar year 2021 through june 30.”

“Rider's mission rider university welcomes students from throughout the region, across the nation, and around the world who seek to be challenged and supported as active members of our inclusive and vibrant living and learning community. Committed to student growth, transformation and leadership, we connect rigorous academic, artistic and professional programs of study with a rich array of learning experiences that engage students inside and outside the classroom. We prepare graduates to thrive professionally and to be lifelong independent learners and responsible citizens who embrace diversity, support the common good and contribute meaningfully to the changing world in which they live and work. Rider's vision rider university will be a premier, forward-looking university known for its engaged learning program that, together with dynamic academic programs, enriching co-curricular experiences and a vibrant living and learning community, challenges students, excites their imaginations and instills in them excellence in thought and action, preparing them for highly engaged and fulfilling professional and personal lives. Rider's promise our students, alumni, faculty, staff and administrators live the rider promise by being forever: - prepared to contribute meaningfully to the changing world in which they live and work - respectful of all people, rights, freedoms, and individual differences - open to a life of independent learning - motivated to be responsible citizens who support the common good - innovative, creative and resourceful - skilled and thriving professionals, educators, artists and performers - engaged in their communities as leaders and role models the rider promise is offered as a representation of the mission. It is inspired by our recent 150th anniversary which embraced the tagline, fulfilling the promise. This tagline was, in turn, inspired by andrew j. Rider himself as discussed in the historical books written by dr. Walter a. Brower '48, former dean of the school of education. Andrew j. Rider declared in 1883 that rider's future was full of promise.”

“Fiscal year 2021 saw the university continue to operate in the midst of a global pandemic. Classes were taught in either an on-campus, online or hybrid mode, and residence halls were occupied at approximately 40% of capacity. While the university received some relief funds from the federal and state governments, those funds did not completely offset the enrollment, room and board revenue losses driven mainly by the challenges of operating during the pandemic.”

“The private university currently serves approximately 3,600 undergraduate students and 1,000 graduate students in over 100 undergraduate majors and minors and over 50 graduate degrees and certificate programs. There are over 200 full-time faculty, with 94% holding a doctorate or the highest degree in their field. Rider is regionally accredited by the middle states commission on higher education and also holds specialized accreditation with these prestigious educational organizations: - aacsb international (association to advance collegiate schools of business) - rider is among the select business schools to have attained this distinction and the only school in new jersey to hold the specialized aacsb accreditation in accounting. - ncate and caep - elementary and secondary education programs and their applicable graduate programs on both campuses are accredited by the national council for the accreditation of teacher education and the council for the accreditation of educator preparation. - nasm - the undergraduate and graduate music programs of westminster choir college are accredited by the national association of schools of music. - cacrep - rider's graduate counseling services program in the school of education holds national accreditation from the council for accreditation of counseling and related education programs. - nasp - the school psychology program in the school of education is accredited by the national accreditation of school psychologists. - american chemical society - rider's chemistry program is accredited by the american chemical society.”

“Gain on defeasance of debt 1,501,960. Change in value of perpetual trust 1,195,463. Change in value of split interest agreement 129,773. Write-off of contribution receivable -24,415. Covid 19 expenses -56,863. Change in value of pension -392,251.”