University of Richmond

“The executive committee is authorized by its charter to exercise the authority of the board between meetings of the full board on all matters except those for which authority is specifically reserved in the by-laws to the board of trustees. Powers reserved to the full board of trustees include the following: appointing or removing the president; filling vacancies on the board or its committees; amending the articles of incorporation; adopting, amending or repealing the by-laws; or approving a plan of merger. While the executive committee may and has exercised the authority of the board between meetings, it is expected that to the extent possible, it will consult with or inform the appropriate board committee charged with oversight of a particular item of business prior to the matter coming before the executive committee for action. If such consultation is not feasible due to time constraints or exigent circumstances, the appropriate committee chair(s) will be consulted in advance of the executive committees action and the full committee(s) informed of the action as soon as practicable thereafter.”

“Paul b. Queally and alan w. Breed have identified a business relationship with each other. Paul b. Queally and herbert h. Mcdade iii have identified a business relationship with each other. R. Lewis boggs and paul b. Queally have identified a business relationship with each other. R. Lewis boggs and robin blandford have identified a business relationship with each other. R. Lewis boggs and louis w. Moelchert jr have identified a business relationship with each other.”

“The form 990 was reviewed by the university of richmond's executive vice president and coo and by its vice president and general counsel. Following that review, a draft of the form 990 was provided to the university's president, rector, and members of the universitys executive and audit and compliance committees. A meeting was conducted to review the form 990 and respond to any questions that the group had regarding the return. Following that meeting, an electronic version of the form 990 was distributed to the entire board of trustees. The staff of the vice president for business and finance and the general counsel conducted information sessions to review the form 990 with the members of the board of trustees and to respond to any questions. All of this occurred prior to filing the form 990 with the internal revenue service. The return reviewed by the board of trustees was identical to the one filed with the irs with one exception - information related to certain donors who requested anonymity as a condition of their gifts was redacted from the version shared with the board.”

“The university monitors and enforces compliance with its conflict of interest policy in several ways. First, the university requires all individuals covered by its policy to complete a conflict of interest disclosure form on an annual basis. The office of the secretary to the board of trustees ensures that all covered individuals complete the disclosure form. Prior to all meetings of the board of trustees or any committee thereof, the secretary to the board and the general counsel of the university review the meeting agenda in light of the conflict of interest disclosures to identify any potential or actual conflicts of interest that might arise. Additionally, the university's conflict of interest policy requires covered individuals to update their disclosure forms during the year and to notify appropriate university officials of any actual or potential conflict that might arise prior to or in the course of a meeting. If there is a conflict of interest, the involved individual is required to recuse him or herself from the discussion of the matter at issue, to refrain from voting on the matter and to refrain from seeking to influence the vote on the matter.”

“The board of trustees has delegated authority for approval of the compensation of the president to the compensation committee of the board of trustees. The members of the compensation committee are the rector and vice rector of the university and at least one other member of the board of trustees. The university ensures that the members of the compensation committee do not have a conflict of interest with regard to any matter coming before them. In setting the initial compensation and benefits of the president and in considering any material amendment to his employment agreement, the compensation committee has engaged an outside compensation consultant. The compensation consultant relies on compensation data for similarly qualified persons in functionally comparable positions at similarly situated organizations and has opined on the reasonableness of the president's compensation. In conducting the annual review, the compensation committee relies on compensation data for similarly qualified persons in functionally comparable positions at similarly situated organizations. The deliberations and decisions of the compensation committee are documented contemporaneously.”

“The board of trustees has delegated authority for reviewing and approving the president's recommendations regarding the compensation of his direct reports to the compensation committee. The members of the compensation committee are the rector and vice rector of the university and at least one other member of the board of trustees. The university ensures that the members of the compensation committee do not have a conflict of interest with regard to any matter coming before them. The compensation committee utilizes compensation data for similarly qualified persons in functionally comparable positions at similarly situated organizations. The compensation committee approves the compensation for all of the president's direct reports and the universitys deans. In the case of other staff whose proposed compensation at the time of hiring exceeds the board-approved compensation structure for university staff, the compensation committee utilizes compensation data for similarly qualified persons in functionally comparable positions at similarly situated organizations in reviewing and approving the proposed compensation. The deliberations and decisions of the compensation committee are documented contemporaneously.”

“The university of richmond makes its governing documents and financial statements available on its public website. The university makes its conflict of interest policy available upon request.”

“Part iii, line 4a - instruction - the university of richmond endeavors to offer its students the highest quality education possible, making available top-of-the-line resources and facilities. By maintaining an 8:1 faculty to student ratio, each student has the opportunity to enjoy a personal and unique learning experience. The key characteristics of the university's instructional foundation are a challenging learning environment, small classes, a high quality of student life, a coordinate college system, a commitment to service, opportunities for moral and spiritual development, a mixture of enriching academic and co-curricular experiences, a sense of community, and a spirit of innovation. There are approximately 4,000 students. Part iii, line 4b - academic support - the respective dean's offices of each of the five schools oversee the maintenance and development of the school to ensure that they maintain the high level of academic integrity that has become the standard of the university of richmond. The university offers opportunities for continuing education in each professor's specialty as well as in new teaching methods and technology, while faculty committees work toward continuous improvement in all areas of student instruction. Academic computing provides information technology to enhance the academic resources available to professors and students, and to the community through the university library. Lecture funds are set aside to pay for visiting speakers on topics relevant to academic studies offered. Part iii, line 4c - auxiliary enterprises - the housing office strives to maintain a comfortable living environment for the 92% of the student body that resides on campus each year. Dining services augments these efforts by ensuring students have access to exemplary service, outstanding quality food, with a passion and commitment to excellence. The bookstore ensures that members of the university community have an affordable, convenient option for university of richmond textbooks, gear, and supplies. Printing services offers top-quality graphic communications for students, faculty and staff.”

“Student services - student development provides on-campus physical and mental health services, academic and career counseling, various fraternity, sorority and extracurricular activities, and organizations that work to uphold the university's core principles of diversity and inclusion. Recreation and wellness provides the campus community with outstanding recreational facilities, fitness and wellness programs, intramurals, and sport clubs. It also supports multiple student government associations, which voice the students' concerns and opinions, as well as serves as a liaison between students and administration, faculty, and staff. Undergraduate and law school admission offices counsel thousands of prospective applicants and make them feel welcome at the university, while providing support for accepted students. The university libraries serve the campus community and the public and are a designated federal document repository. The athletic department is committed to the principles of institutional control in operating its programs in a manner consistent with the letter and the spirit of the ncaa, its athletic conferences, and university rules and regulations. Expenses: $51,909,691, including grants of: $0. Revenue: $4,269,344. Research - the university believes that academic research at the faculty, staff and student levels significantly improves the quality of education of all students. Thus, the university encourages faculty, student and staff research by operating an office of foundation, corporate and government relations to assist with applications for funding; allocating funds for student and faculty summer research projects, and travel to participate and present findings at academic conferences; providing labs,studios and specialized classrooms for conducting research; providing infrastructure necessary to conduct research; employing non-faculty personnel to manage research-related facilities and conduct experiments. Expenses: $4,852,825, including grants of: $361,621. Revenue: $0. Public service - the bonner center for civic engagement (cce) at the university of richmond strives to bring together campus and community members in collaborative study, reflection, and action to address contemporary social issues. Beyond organizing various service-oriented events eliciting participation from faculty, staff, and students, the cce also administers the bonner scholars program (bsp). The program offers four-year scholarship awards to students with a sustained record of service and a high level of financial need. A diverse group of approximately 100 students currently participate in the bsp at the university of richmond, making it the largest bsp in the country. The university's office of the chaplaincy supports and coordinates university campus ministers and religious organizations, inter-religious community and justice programming, a weekly university worship service, and spiritual and pastoral care. The number of people served was approximately 13,900. Expenses: $3,361,524, including grants of: $0. Revenue: $0.”

“Other changes in net assets or fund balances: change in fair value of swap agreements (6,154,248) change in present value - split interest agreement (485,722) change in post-retirement benefit obligation 1,098,311 rfmc schedule k-1 revenue differential 1,687,060 -------------- total part xi, line 9: (3,854,599)”

“The mission of the university of richmond is to educate in an academically challenging, intellectually vibrant, and collaborative community dedicated to the holistic development of students and the production of scholarly and creative work. A richmond education prepares students for lives of purpose, thoughtful inquiry, and responsible leadership in a diverse world. Forging our future, building from strength, the university's strategic plan, establishes how richmond will pursue its mission. The larger purpose is to operate as a leader in higher education, preparing students to contribute to, and succeed in, a complex world; producing knowledge to address the world's problems; and modeling the way that colleges and universities can effectively meet the challenges of our time. The strategic plan aims to fulfill the mission established by the board of trustees: "to educate in an academically challenging, intellectually vibrant, and collaborative community dedicated to the holistic development of students and the production of scholarly and creative work. A richmond education prepares students for lives of purpose, thoughtful inquiry, and responsible leadership in a diverse world."”