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Schedule K
(Form 990)
Department of the Treasury
Internal Revenue Service
Supplemental Information on Tax-Exempt Bonds
SchKMediumBullet Complete if the organization answered "Yes" to Form 990, Part Ⅵ, line 24a. Provide descriptions,
explanations, and any additional information in Part Ⅵ.
SchKMediumBullet Attach to Form 990.
SchKMediumBulletGo to www.irs.gov/Form990 for instructions and the latest information.
OMB No. 1545-0047
2021
Open to Public
Inspection
Name of the organization
Rochester Institute of Technology
 
Employer identification number
16-0743140
Part Ⅰ
Bond Issues
(a) Issuer name (b) Issuer EIN (c) CUSIP # (d) Date issued (e) Issue price (f) Description of purpose (g) Defeased (h) On
behalf of
issuer		 (i) Pool
financing
Yes No Yes No Yes No
A DASNY RIT SERIES 2006A
  		14-6000293 64983QF38 05-04-2006 61,706,239 SEE SUPPLEMENTAL INFORMATION   X   X   X
B DASNY RIT SERIES 2012A
  		14-6000293 649907HM7 12-12-2012 168,217,368 SEE SUPPLEMENTAL INFORMATION X     X   X
C DASNY RIT Series 2019A
  		14-6000293 64990GTN2 10-08-2019 143,479,011 SEE SUPPLEMENTAL INFORMATION   X   X   X
D DASNY RIT Series 2020A
  		14-6000293 64990GUV2 04-03-2020 57,366,744 SEE SUPPLEMENTAL INFORMATION   X   X   X
Part Ⅱ
Proceeds
A B C D
1 Amount of bonds retired .................. 52,325,000 8,200,000 0 3,855,000
2 Amount of bonds legally defeased .............. 0 136,050,000 0 0
3 Total proceeds of issue .................. 61,710,620 168,328,534 147,109,923 57,371,208
4 Gross proceeds in reserve funds ............. 0 0 0 0
5 Capitalized interest from proceeds ............. 0 2,881,587 0 0
6 Proceeds in refunding escrows ............... 0 0 0 0
7 Issuance costs from proceeds ............... 457,585 854,858 647,850 341,939
8 Credit enhancement from proceeds ............. 470,127 0 0 0
9 Working capital expenditures from proceeds ............. 15,809 0 0 0
10 Capital expenditures from proceeds ............. 0 58,089,438 50,276,523 0
11 Other spent proceeds ............. 60,767,099 109,384,237 22,669,875 57,029,269
12 Other unspent proceeds ............. 0 0 73,515,678 0
13 Year of substantial completion ............. 2000 2015
Yes No Yes No Yes No Yes No
14 Were the bonds issued as part of a current refunding issue of tax-exempt
bonds (or, if issued prior to 2020, a current refunding issue)? ........ 		  X   X   X X  
15 Were the bonds issued as part of an advance refunding issue of taxable
bonds (or, if issued prior to 2020, an advance refunding issue)? ........ 		X   X     X   X
16 Has the final allocation of proceeds been made? .......... X   X     X X  
17 Does the organization maintain adequate books and records to support the final allocation of proceeds? .................. X   X   X   X  
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 50193E
Schedule K (Form 990) 2021

Schedule K (Form 990) 2021
Page 2
Part Ⅲ
Private Business Use
A B C D
Yes No Yes No Yes No Yes No
1 Was the organization a partner in a partnership, or a member of an LLC, which owned property financed by tax-exempt bonds? .............       X   X   X
2 Are there any lease arrangements that may result in private business use of bond-financed property? ...............     X   X   X  
3a Are there any management or service contracts that may result in private business use of bond-financed property? .............     X   X   X  
b If "Yes" to line 3a, does the organization routinely engage bond counsel or other outside counsel to review any management or service contracts relating to the financed property?       X   X   X
c Are there any research agreements that may result in private business use of bond-financed property? .............     X   X   X  
d If "Yes" to line 3c, does the organization routinely engage bond counsel or other outside counsel to review any research agreements relating to the financed property?       X   X   X
4 Enter the percentage of financed property used in a private business use by entities other than a section 501(c)(3) organization or a state or local government ....SchKMediumBullet 0 % 0.03 % 0 % 0.01 %
5 Enter the percentage of financed property used in a private business use as a result of unrelated trade or business activity carried on by your organization, another section 501(c)(3) organization, or a state or local government ......... SchKMediumBullet 0 % 0 % 0 % 0 %
6 Total of lines 4 and 5 ............. 0 % 0.03 % 0 % 0.01 %
7 Does the bond issue meet the private security or payment test? ...       X   X   X
8a Has there been a sale or disposition of any of the bond-financed property to a nongovernmental person other than a 501(c)(3) organization since the bonds were issued?.............       X   X   X
b If "Yes" to line 8a, enter the percentage of bond-financed property sold or disposed of. ..        
c If "Yes" to line 8a, was any remedial action taken pursuant to Regulations sections 1.141-12 and 1.145-2? .............                
9 Has the organization established written procedures to ensure that all nonqualified bonds of the issue are remediated in accordance with the requirements under
Regulations sections 1.141-12 and 1.145-2? ........ 		    X   X   X  
Part Ⅳ
Arbitrage
A B C D
Yes No Yes No Yes No Yes No
1 Has the issuer filed Form 8038-T, Arbitrage Rebate, Yield Reduction and Penalty in Lieu of Arbitrage Rebate? ...   X   X   X   X
2 If "No" to line 1, did the following apply? ....
a Rebate not due yet? .......   X   X X   X  
b Exception to rebate? ........   X   X   X   X
c No rebate due? ......... X   X     X   X
If "Yes" to line 2c, provide in Part Ⅵ the date the rebate
computation was performed ......
3 Is the bond issue a variable rate issue? .....   X   X   X   X
Schedule K (Form 990) 2021

Schedule K (Form 990) 2021
Page 3
Part Ⅳ
Arbitrage (Continued)
A B C D
Yes No Yes No Yes No Yes No
4a Has the organization or the governmental issuer entered into a qualified hedge with respect to the bond issue?   X   X   X   X
b Name of provider ..........  
  		 
  		 
  		 
 
c Term of hedge .........        
d Was the hedge superintegrated? ......                
e Was the hedge terminated? ........                
5a Were gross proceeds invested in a guaranteed investment contract (GIC)?   X   X   X   X
b Name of provider ..........  
  		 
  		 
  		 
 
c Term of GIC .........        
d Was the regulatory safe harbor for establishing the fair market value of the GIC satisfied? ........                
6 Were any gross proceeds invested beyond an available temporary period?   X   X   X   X
7 Has the organization established written procedures to monitor the requirements of section 148? ... X   X   X   X  
Part Ⅴ
Procedures To Undertake Corrective Action
--------------------------------------------------------------------------------------------------------------- A B C D
Yes No Yes No Yes No Yes No
Has the organization established written procedures to ensure that violations of federal tax requirements are timely identified and corrected through the voluntary closing agreement program if self-remediation is not available under applicable regulations? X   X   X   X  
Part Ⅵ
Supplemental Information. Provide additional information for responses to questions on Schedule K. (See instructions).
Return Reference Explanation
Schedule K, Part II, Line 11 LINE 11B, SERIES 2012 OTHER SPENT PROCEEDS, INCLUDES $75,000 FOR ISSUER/DASNY FEES AND $109,309,237 OF PROCEEDS USED TO LEGAL DEFEASE SERIES 2002B AND SERIES 2008A WITH REDEMPTION DATES OF JULY 1, 2016 AND JULY 1, 2018, RESPECTIVELY
Schedule K, Part I, Column (f) ISSUER NAME - DASNY, RIT SERIES 2006A LINE A (f): THE SERIES 2006A (ADVANCE REFUNDING OF DASNY, RIT SERIES 1997, ISSUED JULY 15, 1997) - PROJECT CONSISTS OF CONSTRUCTION, RENOVATION AND IMPROVEMENTS TO VARIOUS RESIDENTIAL BUILDINGS AND APARTMENT COMPLEXES AND A FINANCIAL INFORMATION SYSTEM. PURSUANT TO CODE SECTION 150(C)(3)(ii), THE ISSUE REPORTED IN THE INFORMATION RETURN FOR TAX-EXEMPT PRIVATE ACTIVITY BOND ISSUES (FORM 8038) AND THE REISSUANCE OF THE SAME DATE OF THE ISSUER'S ROCHESTER INSTITUTE OF TECHNOLOGY INSURED REVENUE BONDS, SERIES 2002B. AS REPORTED IN A SEPARATE 8038 DATED MAY 4, 2006, ARE TREATED AS PARTS OF A SINGLE ISSUE FOR CERTAIN PURPOSES DESCRIBED IN A CODE SECTION 150(C)(3)(ii).
Schedule K, Part II, Line 11 LINE 11A, SERIES 2006A OTHER SPENT PROCEEDS, INCLUDES $75,000 FOR ISSUER/DASNY FEES, $400,919 FOR STATE ISSUANCE FEES AND $60,291,180 OF PROCEEDS USED TO LEGALLY DEFEASE THE OUTSTANDING AGGREGATE PRINCIPAL AMOUNT OF SERIES 1997. THE REFUNDED BONDS WERE CALLED ON JULY 1, 2007.
Schedule K, Part II, Line 3 LINES 3A, 3B, 3C, 3D RESPECTIVELY TOTAL PROCEEDS OF ISSUE, INCLUDES INVESTMENT PROCEEDS OF: 2006A: $4,381; 2012: $111,166; 2019A: $3,630,915; AND 2020A: $4,464 RESPECTIVELY.
Schedule K, Part I, Column (f) ISSUER NAME - DASNY, RIT SERIES 2012 LINE B (f): THE 2012 PROJECT CONSISTS OF THE CONSTRUCTION OF AN ICE ARENA, RENOVATIONS AND IMPROVEMENTS TO THE INSTITUTE OF HEALTH SCIENCE AND TECHNOLOGY, RENOVATIONS OF LABS, ACQUISITION OF UNIVERSITY COMMONS II, AND PARTIAL REFUNDING OF THE SERIES 2002B AND 2008A.
Schedule K, Part II, Line 7 LINE 7B, SERIES 2012 ORIGINAL ISSUANCE COSTS FROM PROCEEDS OF $832,806 WERE ADJUSTED FOR $22,052 OF ADDITIONAL PROCEEDS. THESE PROCEEDS, ($22,052), TOGETHER WITH INVESTMENT PROCEEDS OF $111,166, ARE INCLUDED IN PART II, LINE 10B, CAPITAL EXPENDITURES FROM PROCEEDS.
Schedule K, Part II, Line 7 LINE 7A, SERIES 2006A ORIGINAL ISSUANCE COSTS FROM PROCEEDS OF $469,013 WERE ADJUSTED FOR $11,428 OF UNUSED PROCEEDS. THESE PROCEEDS ($11,428), TOGETHER WITH INVESTMENT PROCEEDS OF $4,381, ARE INCLUDED IN PART II, LINE 9A, WORKING CAPITAL EXPENDITURES FROM PROCEEDS.
Schedule K, Part II, Line 9 LINE 9A, SERIES 2006A WORKING CAPITAL EXPENDITURES FROM PROCEEDS REPRESENT UNUSED ORIGINAL ISSUANCE PROCEEDS OF $11,428 AND INVESTMENT PROCEEDS OF $4,381. THE INVESTMENT PROCEEDS ARE INCLUDED IN PART II, LINE 3A TOTAL PROCEEDS OF ISSUE.
Schedule K, Part II, Line 11 LINE 11C, SERIES 2019A OTHER SPENT PROCEEDS INCLUDES $47,311 FOR ISSUER/DASNY FEES AND $22,622,564 FOR REFINANCING OF TAXABLE BANK LOAN.
Schedule K, Part I, Column (f) ISSUER NAME - DASNY, RIT SERIES 2019A LINE C (f): THE SERIES 2019A PROJECT CONSISTS OF THE CONSTRUCTION OF THE STUDENT HALL FOR EXPLORATION AND DEVELOPMENT (SHED), RENOVATIONS TO THE LIBRARY, A NEW STUDENT MUSICAL PERFORMANCE THEATER AND REFINANCING AN OUTSTANDING TAXABLE BANK LOAN.
Schedule K, Part I, Column (f) ISSUER NAME - DASNY, RIT SERIES 2020A LINE D (f): THE SERIES 2020A PROJECT CONSISTS OF REFUNDING A PORTION OF SERIES 2010 BONDS.
Schedule K, Part II, Line 11 LINE 11D, SERIES 2020A OTHER SPENT PROCEEDS INCLUDES $57,029,269 TO LEGALLY DEFEASE A PORTION OF SERIES 2010 BONDS WITH A REDEMPTION DATE OF JULY 1, 2020.
Schedule K, Part II, Line 7 LINE 7C, SERIES 2019A ORIGINAL ISSUANCE COSTS FROM PROCEEDS OF $647,120 WERE ADJUSTED FOR $1,082 OF UNUSED PROCEEDS, NET OF INVESTMENT EARNINGS FOR A TOTAL ADJUSTMENT OF $730.
Schedule K, Part II, Line 7 LINE 7D, SERIES 2020A ORIGINAL ISSUANCE COSTS FROM PROCEEDS OF $337,475, WERE ADJUSTED FOR $9,761 OF UNUSED PROCEEDS NET OF INVESTMENT EARNINGS FOR A TOTAL ADJUSTMENT OF $4,464.
Schedule K, Part IV, Line 2c COLUMN A Issuer name: DASNY, RIT SERIES 2006A The calculation for computing no rebate due was performed on 12/31/2020
Schedule K, Part IV, Line 2c COLUMN B Issuer name: DASNY, RIT SERIES 2012A The calculation for computing no rebate due was performed on 12/31/2016
Schedule K (Form 990) 2021

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