Fairleigh Dickinson University

“The university's board of trustees assigned the primary responsibility for the detailed review of form 990 to the finance, audit, and budget committee (the "fabc") of the board. The fabc has worked closely with management to become familiar with the requirements and to ensure that university policies and procedures accurately reflect its operations. Form 990 was prepared by kpmg llp using information provided by the university and reviewed by management with oversight responsibility prior to the submission to the governing body for review. The fabc reviewed the form 990 at its meeting on april 18, 2022 after receiving a draft document several days in advance. This review also included the university's officers. The draft form 990 is posted on the secure board of trustees portal and a notification is sent to all members of the board of trustees allowing sufficient time for their review prior to filing.”

“Fairleigh dickinson university is committed to the highest standards of ethics in all aspects of the operation of the university and has a written conflict of interest policy for all members of the university community that includes trustees, officers, faculty members, staff members, student employees, consultants or anyone else who has an official affiliation with the university. The policy requires trustees, officers, faculty members, and staff members to avoid conflicts of interest and the appearance of impropriety in university transactions. Trustees, officers, and key employees are required to provide a signed conflict of interest disclosure annually to the university's general counsel, who is responsible for the administration of the policy. The policy states that no member shall make recommendations, vote, deliberate, or participate in decision-making were a conflict exists. The university's conflict of interest policy is also available on the university's website. The policy calls for any member of the university to make disclosure regarding policy violations to the general counsel for investigation. In addition, the university's finance department monitors payment requests and flags questionable items. Such items are referred to the general counsel for analysis, investigation and guidance.”

“The board of trustees compensation committee is responsible for making recommendations to the board of trustees executive committee concerning compensation of the university president and setting compensation and other terms and conditions of employment for officers of the university in consultation with the president. The process for determining compensation includes retaining an independent firm to study executive compensation to assure that the compensation of each officer is consistent with market trends and in compliance with regulations. The most recent executive compensation study report was issued in january 2018. The compensation committee is also responsible for conducting or commissioning any necessary survey or studies and to report the results to the board of trustees. Meetings and decisions of the committee are documented contemporaneously in committee minutes.”

“The university makes its form 1023 and governing documents available by written request to the university associate vice president of finance or university general counsel. The conflict of interest policy is available on the university webpage under university policies, office of the general counsel, and also by written request. The university makes their audited financial statements available on the university website. Forms 990 and 990-t are available without charge for in-person public inspection at the university libraries located in teaneck and madison, nj during regular business hours by anyone making a request. Additionally, requests for form 990 and 990-t may be made by mail, electronic mail, facsimile or private delivery service to the associate vice president of finance, 1000 river road, teaneck, nj 07666-1914. Copies of forms are available without charge, other than a reasonable fee for reproduction and postage costs. Form 990 and 990-t are available for a period of 3 years from the date the return was required to be filed, or is actually filed, whichever is later.”

“Organization's mission: fairleigh dickinson university is a center of academic excellence dedicated to the preparation of world citizens through global education. The university strives to provide students with the multi-disciplinary, intercultural, and ethical understandings necessary to participate, lead, and prosper in the global marketplace of ideas, commerce and culture.”

“Fairleigh dickinson university, new jersey's largest private university, is a nonsectarian, coeducational institution offering programs on the undergraduate, graduate and professional levels. The university educates approximately 12,500 students per year, including a strong international student population. Founded as a small junior college in 1942, the university now maintains two major campuses in northern new jersey suburbs - the metropolitan campus, spanning both teaneck and hackensack in bergen county, and the florham campus, located in florham park and madison in morris county - and campuses in wroxton, england and vancouver, british columbia, canada. The university provides instruction at additional locations throughout new jersey, and learning opportunities at select locations throughout the united states and study-abroad in a variety of locations overseas. The metropolitan campus features a university atmosphere with a diverse doctoral, graduate, undergraduate and non-degree student population from the united states and abroad. It offers a wide range of programs, delivered in-person and online, including degree, certificate and continuing-education programs; undergraduate, graduate and doctoral degree programs; and professional-level programs, as well as non-diploma, non-degree and certificate programs. Degrees awarded range from the associate to the ph.d. The metropolitan campus in particular features the depth and breadth of the liberal arts faculty, the focus and strength of the computer science and engineering programs, the variety and importance of the health profession majors, the quality of the clinical psychology and school psychology programs and the presence of the largest number of professional accredited programs at the university. The metropolitan campus also serves as the home of the els language center program. The silberman college of business is accredited by aacsb international - the association to advance collegiate schools of business. The college offers undergraduate and graduate programs in business education at both the university's florham campus and metropolitan campus in new jersey and at the vancouver campus in british columbia, canada. Fairleigh dickinson's florham campus offers a classic college experience where undergraduates are at the heart of the learning experience. With its small college setting, the florham campus emphasizes residential living, hands-on learning, graduate and professional school preparation and customized educational offerings, all framed with a global perspective. The florham campus offers a broad range of strong programs at the undergraduate, graduate doctoral, and professional levels, as well as non-diploma, non-degree, certificate and continuing-education programs and creates an academically challenging learning environment with an enhanced residential experience. The university's school of pharmacy and health sciences on the campus features a dynamic curriculum incorporating technology, a global perspective and multiple graduate degree options. Wroxton college is housed in an 18th-century jacobean mansion in the cotswold area of britain. Yet, london, oxford and the royal shakespeare company are all within a short drive. Wroxton college's educational methods and academic personnel are chosen to give students the best experience that britain can offer. Courses are taught by the lecture, seminar and tutorial methods employed in british universities. The college offers a large number of courses in literature, history, political science, fine arts, university core and sociology. The college's own british teaching staff is supplemented by visiting lecturers from british universities. The vancouver campus offers students one of the few opportunities to earn an american college degree while studying in canada. The campus brings together students from more than 60 countries into a student-centered learning environment. All degree programs offered at the vancouver campus”

“Higher education research - investigation and experimental activities for the purpose of discovery and revision of accepted conclusions undertaken for the benefit of the community at large. The silberman college of business sponsors a series of business research studies that involve faculty and students. The college publishes several working papers series and the journal of pharmaceutical chemical business. The school of psychology and counseling houses the clinical psychology and psychology doctoral programs where students and faculty do research in such areas as behavioral medicine, cognitive, psychological and psych-educational testing and women's issues. The school of psychology and counseling further emphasizes experimental, industrial/organization psychology and clinical counseling. In addition, in the maxwell becton college of arts and sciences, research efforts are particularly prominent in english, social sciences and communication disciplines.”

“Change in fair value of interests 263,566. Multi employer pension plan change -51,509. Post-retirement benefit change 5,210,474.”

“In march 2020, the world health organization declared the novel coronavirus (covid-19) a pandemic. The outbreak of the disease has affected travel, commerce and financial markets, including in the united states. The continued spread of covid-19 and its impact on social interaction, travel, economies and financial markets may adversely affect operations and financial condition, including, among other things, (i) the ability of the university to conduct its operations and/or the cost of operations, (ii) governmental and non-governmental funding, and (iii) financial markets impacting investments valuation and interest rates. Commencing march 16, 2020, undergraduate and graduate course instruction was conducted virtually and most students vacated the campus. The university granted refunds of approximately $6.5 million in fiscal year 2020 for housing and dining services not provided. Students continued to meet their academic requirements for the remainder of the 2019-2020 academic year. In addition, the start of the 2020-2021 academic year remained a mostly virtual learning environment. While some faculty and staff were working on-campus to ensure continuity of essential operations, most faculty and staff transitioned to remote work. Starting in the 2021-2022 academic year, the campus fully reopened for in-person classes and activities. The university received $5.8 million of higher education emergency relief funds (heerf) from the coronavirus aid, relief and economic security act (cares act) in fiscal 2020, of which half was distributed to students as emergency aid and half was used by the university to offset the refunds noted above. The university received an additional $442 thousand from the cares act that was distributed to students as emergency aid in fiscal 2021. The university received $10.7 million of heerf ii from the coronavirus response and relief supplemental appropriations act (crrsaa) in fiscal 2021, of which $2.9 million was distributed to students as emergency aid, $7.1 million was used by the university to offset lost revenue and $669 thousand was used to offset expense. The university also received $18.9 million of heerf iii from the american rescue plan act in fiscal 2021, which is expected to be expended in fiscal 2022. The covid-19 pandemic has negatively affected national, state, and local economies and global financial markets, and the higher education landscape in general. While the financial impact on the university cannot be quantified at this time, the pandemic may have a material adverse effect on the current and future financial profile and operating performance of the university. The university continues to monitor the course of the pandemic and is prepared to take additional measures to protect the health of the university community and promote the continuity of its academic mission.”