Rutgers University Foundation

“Form 990 is prepared by an independent accounting firm based on information provided by the foundation's staff. Draft return is reviewed by the cfo and then presented to the audit committee for their review and approval on behalf of the full board. The full board of overseers is provided a copy of the approved form 990 for their review prior to submission.”

“The audit committee chair reviews all related party transaction disclosure forms not less than annually. In the event that a board members or staff members status changes during the year the audit committee chair would review the updated change. All disclosure forms are available to members of the board of overseers upon request.”

“The foundation's president reviews any changes in compensation for the senior management team on an annual basis. They utilize comparative salary information for other organizations to consider the reasonableness of the compensation for each individual.”

“Upon request only at this time.”

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“Part i line 5 indicates the rutgers university foundation employed 630 individuals during calendar year 2013. The foundation employs approximately 200 full-time professional fundraising staff members. The balance are primarily part-time student callers who solicit gifts for the foundation's rutgers fund, an annual fundraising activity. In addition, several officers are compensated through rutgers university. The foundation reimburses the university for these expenses through the management fee as shown on part ix.”

“In fiscal year 2014, rutgers university established the rutgers biomedical and health sciences (rbhs) division after the implementation of the new jersey medical and health sciences education restructuring act. While fundraising for this new division is still aligned with the mission of the rutgers university foundation, a significant increase in program service revenues and expenses were realized compared to prior years.”

“Adjustment of actuarial liability -102,910. Cinjf net assets - restatement to beginning net assets 8,948,419.”

“The rutgers university foundation has an audit committee of the board of overseers. This committee advises the full board on all auditing and accounting matters, has oversight over the quality and integrity of the foundation's accounting, internal control and financial reporting practices. Consistent with this purpose, the audit committee proposes to the board the appointment of the external auditors for the annual examination of the foundations year-end financial statements and other audit needs as necessary.”

“Due to a separate arrangement governed by the laws of the state of new jersey, the assets of the cancer institute of new jersey were transferred to rutgers university. This transfer resulted in the decision to merge the related 501(c)(3) not profit fundraising organizations of these two entities. On july 1, 2013, the cancer institute of new jersey foundation (cinjf) merged with and into the rutgers university foundation, with the rutgers university foundation being the surviving organization. The net assets for cinjf were transferred and required a restatement of the beginning balances for the rutgers university foundation as of july 1, 2013.”