Form 990 for tax year 2023
Filed by ROSALIND FRANKLIN UNIVERSITY OF MEDICINE & SCIENCE.
Totals
- Total revenue
- $137,919,584
- Total expenses
- $147,553,862
- Contributions and grants received
- $14,915,728
- Grants paid
- $7,490,845
- Program service revenue
- $116,622,657
- Investment income
- $4,626,756
- Other revenue
- $1,754,443
- Total assets, end of year
- $308,777,224
- Total liabilities, end of year
- $156,279,887
- Net assets or fund balances, end of year
- $152,497,337
- Program services expenses (Part IX)
- $119,530,435
- Management and general expenses
- $25,117,549
- Fundraising expenses
- $2,905,878
- Program service expenses (Part III)
- $119,530,435
Program services were 81.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1e · Government grants (contributions)
$9,603,831
-
1f · All other contributions, gifts and grants
$5,311,897
-
1g · Noncash contributions included above
$125,014
-
2a · Program service revenue: TUITION & FEES
total $105,055,883 · related or exempt $105,055,883
-
2b · Program service revenue: PATIENT CARE
total $8,238,981 · related or exempt $8,238,981
-
2c · Program service revenue: STUDENT HOUSING REVENUE
total $3,164,135 · related or exempt $3,164,135
-
2d · Program service revenue: INCOME FROM STUDENT LOAN INTEREST
total $50,603 · related or exempt $50,603
-
2e · Program service revenue: COMPOUND TESTING LAB
total $113,055 · related or exempt $113,055
-
2f · All other program service revenue
total $0 · related or exempt $0 · unrelated business $0 · excluded $0
-
3 · Investment income
total $2,001,066 · unrelated business $0 · excluded $2,001,066
-
6a · Gross rents
real property $512,012
-
6c · Rental income or loss
real property $512,012 · personal property $0
-
6d · Net rental income or loss
total $512,012 · excluded $512,012
-
7a · Gross sales of assets other than inventory
securities $77,062,246 · other assets $854,717
-
7b · Less cost or other basis and sales expenses
securities $74,541,273 · other assets $750,000
-
7c · Gain or loss
securities $2,520,973 · other assets $104,717
-
7d · Net gain or loss
total $2,625,690 · excluded $2,625,690
-
11a · Other revenue: STUDENT ORGANIZATION
total $235,290 · related or exempt $235,290
-
11b · Other revenue: BOOK STORE SALES
total $176,048 · related or exempt $176,048
-
11c · Other revenue: TRANSCRIPT AND REGISTRATION FEES
total $81,902 · related or exempt $81,902
-
11d · All other revenue
total $749,191 · related or exempt $749,191 · unrelated business $0 · excluded $0
-
11e · Other revenue, total
$1,242,431
Functional expenses
Part IX, the statement of functional expenses.
-
1 · Grants to domestic organizations and governments
total $0 · program services $0
-
2 · Grants to domestic individuals
total $7,490,845 · program services $7,490,845
-
5 · Compensation of officers, directors and key employees
total $3,981,866 · program services $1,921,315 · management and general $1,904,727 · fundraising $155,824
-
6 · Compensation of disqualified persons
total $256,477 · program services $159,134 · management and general $97,343
-
7 · Other salaries and wages
total $70,396,878 · program services $57,500,170 · management and general $11,411,334 · fundraising $1,485,374
-
8 · Pension plan contributions
total $5,868,512 · program services $4,793,400 · management and general $951,286 · fundraising $123,826
-
9 · Other employee benefits
total $6,775,202 · program services $5,533,985 · management and general $1,098,260 · fundraising $142,957
-
10 · Payroll taxes
total $5,726,395 · program services $4,677,319 · management and general $928,249 · fundraising $120,827
-
11b · Fees: legal
total $273,317 · management and general $273,317
-
11c · Fees: accounting
total $198,881 · management and general $198,881
-
11d · Fees: lobbying
total $29,000 · management and general $29,000
-
11f · Fees: investment management
total $131,322 · management and general $131,322
-
11g · Fees: other
total $8,851,229 · program services $8,064,186 · management and general $660,752 · fundraising $126,291
-
12 · Advertising and promotion
total $879,793 · program services $263,938 · management and general $615,855
-
13 · Office expenses
total $6,069,274 · program services $5,462,347 · management and general $542,989 · fundraising $63,938
-
14 · Information technology
total $3,178,962 · program services $883,579 · management and general $2,280,995 · fundraising $14,388
-
16 · Occupancy
total $5,293,560 · program services $5,000,369 · management and general $116,556 · fundraising $176,635
-
17 · Travel
total $964,586 · program services $815,909 · management and general $86,074 · fundraising $62,603
-
19 · Conferences, conventions and meetings
total $401,367 · program services $344,407 · management and general $43,069 · fundraising $13,891
-
20 · Interest
total $5,731,605 · program services $4,681,575 · management and general $929,093 · fundraising $120,937
-
22 · Depreciation, depletion and amortization
total $8,170,507 · program services $6,673,670 · management and general $1,324,439 · fundraising $172,398
-
23 · Insurance
total $1,065,959 · program services $870,675 · management and general $172,792 · fundraising $22,492
-
24a · Other expenses: Membership Dues
total $550,496 · program services $505,111 · management and general $37,340 · fundraising $8,045
-
24b · Other expenses: Repair & Maintenance of Equipment
total $495,229 · program services $404,503 · management and general $90,726
-
24e · All other expenses
total $4,772,600 · program services $3,483,998 · management and general $1,193,150 · fundraising $95,452
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $6,134,942 · end of year $5,892,513
-
2 · Savings and temporary cash investments
beginning of year $7,059,362 · end of year $26,944
-
3 · Pledges and grants receivable
beginning of year $5,763,761 · end of year $2,709,375
-
4 · Accounts receivable
beginning of year $8,005,789 · end of year $10,141,235
-
5 · Loans and receivables from officers and key people
beginning of year $63,578 · end of year $84,651
-
6 · Loans and receivables from disqualified persons
beginning of year $0 · end of year $0
-
7 · Other notes and loans receivable
beginning of year $0 · end of year $0
-
8 · Inventories for sale or use
beginning of year $0 · end of year $0
-
9 · Prepaid expenses and deferred charges
beginning of year $5,207,909 · end of year $5,626,613
-
10a · Land, buildings and equipment: cost or other basis
$291,067,720
-
10b · Land, buildings and equipment: accumulated depreciation
$144,648,580
-
10c · Land, buildings and equipment, net
beginning of year $148,408,706 · end of year $146,419,140
-
11 · Investments: publicly traded securities
beginning of year $76,058,467 · end of year $82,333,665
-
12 · Investments: other securities
beginning of year $12,341,156 · end of year $9,385,694
-
13 · Investments: program-related
beginning of year $0
-
15 · Other assets
beginning of year $40,550,262 · end of year $46,157,394
-
17 · Accounts payable and accrued expenses
beginning of year $19,989,204 · end of year $22,043,643
-
18 · Grants payable
beginning of year $0
-
19 · Deferred revenue
beginning of year $12,356,346 · end of year $12,174,199
-
20 · Tax-exempt bond liabilities
beginning of year $57,030,000 · end of year $57,030,000
-
22 · Loans and payables to officers and key people
beginning of year $0 · end of year $0
-
23 · Secured mortgages and notes payable
beginning of year $50,732,677 · end of year $49,816,764
-
25 · Other liabilities
beginning of year $25,149,529 · end of year $15,215,281
-
27 · Net assets without donor restrictions
beginning of year $123,107,218 · end of year $130,685,091
-
28 · Net assets with donor restrictions
beginning of year $21,228,958 · end of year $21,812,246
-
29 · Capital stock, trust principal or current funds
beginning of year $0
-
30 · Paid-in or capital surplus, or land, building or equipment fund
beginning of year $0
-
31 · Retained earnings, endowment or other funds
beginning of year $0
Mission and programs · 2023
Mission
Withheld by Nonprofiteer: this text may name a private individual.
Activities or mission (Part I)
To improve the wellness of all people through innovative, interprofessional education of health and biomedical professionals and the discovery and implementation of knowledge.
-
INSTRUCTION - THE PRIMARY PURPOSE OF THE UNIVERSITY IS TO EDUCATE AND TRAIN MEDICAL AND OTHER HEALTHCARE PROFESSION STUDENTS. IN THE 2023-2024 ACADEMIC YEAR, RFUMS TRAINED OVER 2,000 STUDENTS.
Expenses $81,033,589 · Grants $7,490,845 · Revenue $105,055,883
-
RESEARCH - A CORE COMPONENT OF THE UNIVERSITY'S MISSION IS THE DISCOVERY AND IMPLEMENTATION OF KNOWLEDGE. IN ADDITION TO EDUCATION OF FUTURE CLINICIANS AND SCIENTISTS, MANY UNIVERSITY FACULTY MEMBERS ENGAGE IN UNIVERSITY-FUNDED AND EXTERNALLY FUNDED RESEARCH PROJECTS. PRIMARY AREAS OF RESEARCH FOCUS INCLUDE: NEUROSCIENCES, GENETIC DISEASES, PROTEOMICS, CANCER CELL BIOLOGY, IMMUNOLOGY, INFLAMMATION, CARDIOLOGY, REGENERATION, BIOMECHANICS, HEALTHCARE DELIVERY, AND PSYCHOLOGY. EXTRAMURAL FUNDING COMES FROM THE NATIONAL INSTITUTES OF HEALTH, THE NATIONAL SCIENCE FOUNDATION, PRIVATE FOUNDATIONS SUCH AS THE CYSTIC FIBROSIS FOUNDATION AND THE ALZHEIMER'S ASSOCIATION AND FROM ORGANIZATIONS SUCH AS THE LAKE COUNTY HEALTH DEPARTMENT.
Expenses $25,081,422
-
PATIENT CARE - THE UNIVERSITY UTILIZES EXISTING LABORATORY FACILITIES AND PERSONNEL TO PROCESS GENERAL LAB TESTS AND SPECIALIZED LAB TESTS FOR REPRODUCTIVE IMMUNOLOGY.
Expenses $6,264,223 · Revenue $8,238,981
-
OTHER PROGRAM SERVICE REVENUES AND EXPENSES INCLUDE INTEREST ON STUDENT LOANS AND PENALTIES, STUDENT HOUSING REVENUE AND OTHER PROGRAM SERVICES.
Expenses $7,151,201 · Revenue $4,570,224
As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.
Listed in Part VII
-
Dr Karen Miller
Vice Chair (Through June 2024)/Chair (Beg June 2024)/Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Dr Kimberley Darey
Vice Chair (as of June 2024)/Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Dr Lee Sacks
Chair (Through June 2024)/Secretary (Beg June 2024)/Trustee
- Total calculated
- $0
- Hours/week
- 2
-
Dr Wendy Rheault
President & CEO
- Total calculated
- $1,029,713
- From this org
- $976,435
- From related orgs
- $0
- Other
- $53,278
- Hours/week
- 38 + 2 related
Schedule J breakdown matched by us
- Base
- $833,935
- Bonus
- $82,500
- Other
- $60,000
- Deferred
- $33,000
- Nontaxable benefits
- $20,278
- Filer's total
- $1,029,713
-
Martin Manning
Treasurer (Beg June 2024)/Trustee
- Total calculated
- $0
- Hours/week
- 2 + 1 related
-
Sandra Bruce
Secretary/Trustee (Through June 2024)
- Total calculated
- $0
- Hours/week
- 2
-
Alan Weinstein
Trustee (Through June 2024)
- Total calculated
- $0
- Hours/week
- 1
-
Dr Adam Fleischer
Trustee (Through June 2024)/Faculty
- Total calculated
- $198,213
- From this org
- $138,507
- From related orgs
- $0
- Other
- $59,706
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $135,776
- Bonus
- $2,731
- Other
- $0
- Deferred
- $14,670
- Nontaxable benefits
- $45,036
- Filer's total
- $198,213
-
Dr Allan Cohen
Trustee (Through June 2024)
- Total calculated
- $0
- Hours/week
- 1
-
Dr Cheryl Kraff-Cooper
Trustee (Through September 2023)
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Dr David Kalsbeek
Trustee (as of June 2024)
- Total calculated
- $0
- Hours/week
- 1
-
DR Don Coulter
Trustee (as of June 2024)
- Total calculated
- $0
- Hours/week
- 1
-
Dr John Grady
Trustee
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Dr Matthew Primack
Trustee (as of June 2024)
- Total calculated
- $0
- Hours/week
- 1
-
DR Neil Bradbury
Trustee (as of June 2024)
- Total calculated
- $0
- Hours/week
- 1
-
Dr Seema Bhatia
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Elizabeth Coulson
Trustee (Through September 2023)
- Total calculated
- $0
- Hours/week
- 1
-
Ernest Vasseur
Trustee
- Total calculated
- $0
- Hours/week
- 1 + 2 related
-
Maria Clarke
Trustee
- Total calculated
- $0
- Hours/week
- 1
-
Rosalind Franklin
Trustee (Through September 2023)
- Total calculated
- $0
- Hours/week
- 1
-
Bruce Jefferson
Asst Secretary/General Counsel
- Total calculated
- $262,017
- From this org
- $213,404
- From related orgs
- $0
- Other
- $48,613
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $213,404
- Bonus
- $0
- Other
- $0
- Deferred
- $21,996
- Nontaxable benefits
- $26,617
- Filer's total
- $262,017
-
Gavin Farry
EVP of Finance & Admin, CFO
- Total calculated
- $438,494
- From this org
- $381,217
- From related orgs
- $0
- Other
- $57,277
- Hours/week
- 38 + 2 related
Schedule J breakdown matched by us
- Base
- $381,217
- Bonus
- $0
- Other
- $0
- Deferred
- $33,000
- Nontaxable benefits
- $24,277
- Filer's total
- $438,494
-
Dr Archana Chatterjee
Dean & VP of Medical Affairs
- Total calculated
- $681,136
- From this org
- $615,481
- From related orgs
- $0
- Other
- $65,655
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $615,481
- Bonus
- $0
- Other
- $0
- Deferred
- $33,000
- Nontaxable benefits
- $32,655
- Filer's total
- $681,136
-
Dr Nancy Parsley
Provost
- Total calculated
- $489,748
- From this org
- $447,055
- From related orgs
- $0
- Other
- $42,693
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $447,055
- Bonus
- $0
- Other
- $0
- Deferred
- $33,000
- Nontaxable benefits
- $9,693
- Filer's total
- $489,748
-
Dr Ronald Kaplan
EVP Research & Vice Dean Research, CMS
- Total calculated
- $480,219
- From this org
- $407,389
- From related orgs
- $0
- Other
- $72,830
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $407,389
- Bonus
- $0
- Other
- $0
- Deferred
- $33,000
- Nontaxable benefits
- $39,830
- Filer's total
- $480,219
-
Lee Concha
EVP Univ. Strategies & Chief of Staff
- Total calculated
- $402,327
- From this org
- $353,666
- From related orgs
- $0
- Other
- $48,661
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $353,666
- Bonus
- $0
- Other
- $0
- Deferred
- $33,000
- Nontaxable benefits
- $15,661
- Filer's total
- $402,327
-
Dr Frank Maldonado
Executive Chair, Clinical Sciences
- Total calculated
- $444,847
- From this org
- $431,106
- From related orgs
- $0
- Other
- $13,741
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $431,106
- Bonus
- $0
- Other
- $0
- Deferred
- $8,481
- Nontaxable benefits
- $5,260
- Filer's total
- $444,847
-
Dr Jeanette Morrison
Vice Dean, MedEd & Exec Vice Dean, CMS
- Total calculated
- $446,656
- From this org
- $372,625
- From related orgs
- $0
- Other
- $74,031
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $372,625
- Bonus
- $0
- Other
- $0
- Deferred
- $33,000
- Nontaxable benefits
- $41,031
- Filer's total
- $446,656
-
Dr Nutan Atre-Vaidya
Vice Dean, Discipline Chair
- Total calculated
- $412,424
- From this org
- $346,076
- From related orgs
- $0
- Other
- $66,348
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $346,076
- Bonus
- $0
- Other
- $0
- Deferred
- $33,000
- Nontaxable benefits
- $33,348
- Filer's total
- $412,424
-
Dr Stephanie Wu
Dean
- Total calculated
- $436,404
- From this org
- $359,163
- From related orgs
- $0
- Other
- $77,241
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $353,701
- Bonus
- $5,462
- Other
- $0
- Deferred
- $33,000
- Nontaxable benefits
- $44,241
- Filer's total
- $436,404
-
DR Suzue Kimiko
Discipline Chair & Education Director
- Total calculated
- $372,132
- From this org
- $314,977
- From related orgs
- $0
- Other
- $57,155
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $314,977
- Bonus
- $0
- Other
- $0
- Deferred
- $32,364
- Nontaxable benefits
- $24,791
- Filer's total
- $372,132
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.
Schedule J
Answered yes
- 1a · Housing allowance or residence for personal use
- 1a · Health or social club dues or initiation fees
- 1b · Written policy on the line-1a expenses
- 2 · Substantiation required before reimbursing expenses
- 3 · Compensation committee
- 3 · Independent compensation consultant
- 3 · Compensation survey or study
- 3 · Approval by the board or compensation committee
Answered no
- 4a · Severance or change-of-control payment
- 4b · Supplemental nonqualified retirement plan
- 4c · Equity-based compensation arrangement
- 5a · Pay contingent on this organization's revenues
- 5b · Pay contingent on a related organization's revenues
- 6a · Pay contingent on this organization's net earnings
- 6b · Pay contingent on a related organization's net earnings
- 7 · Other non-fixed payments
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- Schedule J, Part I, Line 1a Housing allowance or residence for personal use
- THE PRESIDENT RECEIVED A HOUSING ALLOWANCE BY THE UNIVERSITY. IT IS TREATED AS TAXABLE COMPENSATION.
- Schedule J, Part I, Line 1a Health or social club dues or initiation fees
- The University provides THE PRESIDENT a membership to the University Club of Chicago. This membership iS TREATED AS A NONTAXABLE BENEFIT.
Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.
Grants on this return
No itemized grants to organizations on this return.
Related organizations on this return
Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.
-
ROSALIND FRANKLIN UNIVERSITY HEALTH CLINICS
501(c)(3) · HEALTH CARE · IL · controlled entity
Directly controlled by RFUMS
Taxable family on this return
Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.
Disregarded entities
Part I: entities that legally are the filer and file no return of their own.
-
RFU LLC
Real estate · DE · income $3,070,765 · assets $51,653,200
Directly controlled by Rosalind Franklin University of Medicine and Science
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202511349349310736
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