Rice University

Rice University is a non-profit organization and is owned and governed by a privately appointed board of trustees. The board consists of a maximum of 25 voting members who serve four-year terms and is currently chaired by James W. Crownover. The trustees serve without compensation and a simple majority of trustees must reside in Texas, including at least 4 within the greater Houston area. The board of trustees delegates its power by appointing a President to serve as the chief executive of the university. David W. Leebron was appointed President in 2004 and succeeded Malcolm Gillis who served since 1993. The provost, six vice presidents, and other university officials report to the President. The President is advised by a University Council composed of the Provost, eight members of the Faculty Council, two staff members, one graduate student, and two undergraduate students. The President presides over a Faculty Council which has the authority to alter curricular requirements, establish new degree programs, and approve candidates for degrees. Rice University possesses an endowment of $5.5 billion (as of 2014).
Rice's undergraduate students benefit from a centralized admissions process, which admits new students to the university as a whole, rather than a specific school (the schools of Music and Architecture are decentralized). Students are encouraged to select the major path that best suits their desires; a student can later decide that they would rather pursue study in another field, or continue their current coursework and add a second or third major. These transitions are designed to be simple at Rice, with students not required to decide on a specific major until their sophomore year of study.Rice is a medium-sized, highly residential research university. The majority of enrollments are in the full-time, four-year undergraduate program emphasizing arts & sciences and professions. There is a high graduate coexistence with the comprehensive graduate program and a very high level of research activity. It is accredited by the Southern Association of Colleges and Schools as well as the professional accreditation agencies for engineering, management, and architecture.