2024-11-20T10:56:39-06:00 2024-06-30 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2023-07-01 871925354 UATX UATX 5123487252 522 CONGRESS AVE 300 AUSTIN TX 78701 SHEHRYAR SHAFIQ CFO/TREASURER 5123487252 2024-11-19 1 1 BECKY DETTMANN CPA P01408585 3037795710 2024-11-19 2023 2024-10-15 13:58:12Z SHEHRYAR SHAFIQ 522 CONGRESS AVE 300 AUSTIN TX 78701 35909224 0 X WWW.UAUSTIN.ORG X 2021 TX PREPARE THOUGHTFUL AND ETHICAL BUILDERS, LEADERS, AND CITIZENS THROUGH CIVIL AND OPEN INQUIRY. 8 7 44 10 0 0 27450284 34331676 0 0 501723 1570383 16647 7165 27968654 35909224 0 0 0 0 3877032 6542213 91074 202700 2028357 3164914 11126412 7133020 17871325 20835634 18037899 45172870 62842511 5839164 5463768 39333706 57378743 UATX IS A NONPROFIT DEDICATED TO BUILDING A LIBERAL ARTS UNIVERSITY COMMITTED TO FREEDOM OF INQUIRY, FREEDOM OF CONSCIENCE, AND CIVIL DISCOURSE. TO MAINTAIN THESE PRINCIPLES, THE UNIVERSITY WILL BE FIERCELY INDEPENDENT FINANCIALLY, INTELLECTUALLY, AND POLITICALLY. 0 0 6566168 0 0 THE UNIVERSITY WILL OFFER A RIGOROUS PROGRAM OF UNDERGRADUATE AND GRADUATE COURSES WITH AN APPLIED CURRICULUM BUILT ON A CLASSICAL LIBERAL FOUNDATION TAUGHT BY WORLD-CLASS SCHOLARS AND KNOWLEDGE CREATORS THAT LEADS TO DEGREES THAT WILL BE RECOGNIZED AS AN INDICATOR OF DISTINCTIVE ACCOMPLISHMENT AND ABILITY.DURING THE YEAR ENDED JUNE 30, 2024, UATX CONTINUED ITS INAUGURAL POLARIS FELLOWSHIP PROGRAM, RECEIVED STATE AUTHORIZATION, HOSTED ITS THIRD "FIRST PRINCIPLES SUMMIT", CONTINUED ITS HIGH SCHOOL PROGRAM. 6566168 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 1 0 1 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 60 0 1 44 1 0 0 0 0 0 0 0 0 0 0 0 0 X 8 7 0 0 1 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 0 AL AR CA FL GA HI IL KS KY MD MA MI MN MS NH NJ NM NY NC OR PA RI SC TN VA WV WI X MICHAEL SHIRES 7373590551 522 CONGRESS STE 300 AUSTIN TX 78701 PANO KANELOS PRESIDENT 37.50 X X 568860 0 66344 JOSEPH T LONSDALE CHAIRMAN 1.00 X X 0 0 0 TERI ANDRESEN TRUSTEE 1.00 X 0 0 0 BRENT BELLM TRUSTEE 1.00 X 0 0 0 NIALL FERGUSON TRUSTEE 1.00 X 0 0 0 SCOTT MALKIN TRUSTEE 1.00 X 0 0 0 ANDREW TROUSDALE TRUSTEE 1.00 X 0 0 0 BARI WEISS TRUSTEE 1.00 X 0 0 0 JEFFREY SHAPIRO CFO/COO (THROUGH 07/23) 37.50 X 148112 0 9268 CAROLYN KIL CFO (07/23-05/24) 37.50 X 89615 0 16843 SHEZ SHAFIQ CFO (AS OF 04/24) 37.50 X 0 0 0 CURTIS GUILBOT COO 37.50 X 49741 0 10330 MICHAEL SHIRES CHIEF OF STAFF/VICE PRESIDENT/SECRE 37.50 X 211516 0 45825 RONALD THEVENOT SENIOR VICE PRESIDENT OF ADVANCEMENT 37.50 X 253989 0 57912 JACOB HOWLAND SR. VP OF ACADEMIC AFFAIRS PROVOST 37.50 X 211409 0 30371 LOREN ROTNER ASST CHF ACADEMIC OFFCR(THRU 11/23) 37.50 X 109927 0 18997 CHARLES CALOMIRIS DIR OF THE CENTER FOR POLITICS&ECON 37.50 X 226545 0 35006 1869714 0 290896 20 0 1 0 CLIFTONLARSONALLEN LLP 220 S 6TH STREET STE 300 MINNEAPOLIS MN 55402 CONSULTING / ACCOUNTING SVS 268445 AMERICAN PHILANTHROPIC 119 N HIGH STREET WEST CHESTER PA 19380 CONSULTING 130700 ELISHEVA AVISHAI 51076 W BYRON RD SHAKER HEIGHTS OH 44122 CONSULTING / EDUCATION SVS 130140 CORVUS CONSULTING LLC 45 EAST CITY AVE NO 1667 BALA CYNWYD PA 19004 CONSULTING 100837 4 34331676 555953 34331676 1570383 1570383 OTHER REVENUE 900099 7165 7165 7165 35909224 0 0 1577548 X 1150747 507708 412199 230840 4262707 1880664 1526816 855227 213335 106423 63740 43172 528334 262644 158800 106890 387090 197643 113389 76058 96527 96527 132885 132885 202700 202700 3974 3974 2359984 673877 1506941 179166 113497 27130 83284 3083 110067 7403 86778 15886 1878568 1878518 50 928963 461188 328371 139404 193 193 210195 5102 205093 81855 96 80763 996 BAD DEBT EXPENSE 4136470 4136470 EVENT EXPENSES 599792 358661 126925 114206 RECRUITING 178030 129575 47391 1064 DUES AND SUBSCRIPTIONS 77352 9684 57366 10302 218060 59852 108845 49363 17871325 6566168 9276800 2028357 5136889 5603274 4183827 319047 5566261 17353353 143994 353661 1869791 206700 139259 1663091 24902874 33032141 89570 330790 5010196 4187154 45172870 62842511 836893 830880 159000 5002271 4473888 5839164 5463768 X 19917753 17275120 19415953 40103623 39333706 57378743 45172870 62842511 18037899 7138 0 X X 0 1 X 1 0 X 11371653 27450284 34331676 73153613 11371653 27450284 34331676 73153613 3495009 69658604 9 501723 1570383 2072115 16647 7165 23812 75249540 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2022 AMOUNT: $ 16,647. 2023 AMOUNT: $ 7,165. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 5004310 274074 5278384 5000000 4310 5004310 0.94730 0.05270 0 0 1395954 203486 1192468 473837 3214 470623 1663091 RIGHT OF USE - LEASE ASSET 4100429 RIGHT OF USE - EQUIPMENT 86725 4187154 RIGHT OF USE - OPERATING LEASE LIABILITY 4385499 RIGHT OF USE - FINANCE LEASE LIABILITY 88389 4473888 35912388 7138 7138 35905250 3974 3974 35909224 17867351 0 17867351 3974 3974 17871325 PART V, LINE 4: THE ENDOWMENT WAS PROVIDED TO FUND A CHAIR ON POLITICS AND CENSORSHIP WHEREIN THE OCCUPANT OF THE CHAIR WOULD BE A LEADING VOICE IN THE NATIONAL AND INTERNATIONAL DEBATES AROUND CENSORSHIP IN THE PUBLIC SQUARE. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE POLICY IS PUBLICIZED DURING AT THE START OF OUR REGISTRATION PERIOD. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 CONTRIBUTIONS RECEIVED N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PART I, LINE 3: THE ORGANIZATION USED THE ACCRUAL METHOD OF ACCOUNTING TO ACCOUNT FOR PART I. X X X X X 1 AMERICAN PHILANTHROPIC LLC 119 N HIGH STREET WEST CHESTER PA 19380 DIRECT MAIL AND PLANNED GIVING FUNDRAISING 0 0 130700 0 ARGOS ADVISORS 46 CHESTNUT HILL ROAD WILTON CT 06897 ADVISORY SERVICES FOR FUNDRAISING ACTIVITIES 0 0 72000 0 202700 AR AL AK AR CA CO CT DC FL GA HI IL KS KY LA ME MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OK OR PA RI SC TN TX VA WA WV WI X X X X 0 0 0 0 0 0 0 1 0 PANO KANELOS PRESIDENT 518860 0 50000 0 0 0 19800 0 46544 0 635204 0 0 0 RONALD THEVENOT SENIOR VICE PRESIDENT OF ADVANCEMENT 243989 0 10000 0 0 0 15654 0 42258 0 311901 0 0 0 CHARLES CALOMIRIS DIR OF THE CENTER FOR POLITICS&ECON 226545 0 0 0 0 0 12135 0 22871 0 261551 0 0 0 MICHAEL SHIRES CHIEF OF STAFF/VICE PRESIDENT/SECRE 210516 0 1000 0 0 0 12960 0 32865 0 257341 0 0 0 JACOB HOWLAND SR. VP OF ACADEMIC AFFAIRS PROVOST 196281 0 15128 0 0 0 12641 0 17730 0 241780 0 0 0 JEFFREY SHAPIRO CFO/COO (THROUGH 07/23) 148112 0 0 0 0 0 8837 0 431 0 157380 0 0 0 PART I, LINE 7 THE ORGANIZATION PAID OUT BONUSES IN 2023 AS FOLLOWS FOR PERSONS LISTED ON FORM 990, PART VII, SECTION A: 1. PANO KANELOS...........$ 50,000 2. MICHAEL SHIRES.........$ 1,000 3. CAROLYN KIL.............$ 1,000 4. RONALD THEVENOT.......$ 10,000 5. JACOB HOWLAND..........$ 15,128 6. CURTIS BUILBOT..........$ 1,000 7. KERI WATERS.............$ 1,000 X 6 555953 FMV 0 0 0 0 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTORS WAS USED FOR PART I, COLUMN (B) FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION'S BYLAWS WERE AMENDED TO REFLECT THE FOLLOWING CHANGES: THE "BOARD OF DIRECTORS" ARE RENAMED TO THE "BOARD OF TRUSTEES," ALIGNING THE TERMINOLOGY WITH THE INSTITUTION'S GOVERNANCE STRUCTURE. THE AMENDED BYLAWS SPECIFY AN INITIAL BOARD SIZE OF EIGHT TRUSTEES, WITH FLEXIBILITY FOR ADJUSTMENTS WITHIN SET LIMITS. TRUSTEE TERMS ARE EXTENDED FROM FOUR TO SEVEN YEARS, WITH A LIMIT OF TWO CONSECUTIVE TERMS, AND A MANDATORY ONE-YEAR BREAK BEFORE A THIRD TERM. THE QUORUM REQUIREMENT INCREASES IT FROM A SIMPLE MAJORITY TO THREE-QUARTERS OF THE BOARD. IN TERMS OF OFFICER ROLES, THE PROCESS FOR ELECTING THE PRESIDENT NOW REQUIRES A TWO-THIRDS MAJORITY VOTE, AND THE PRESIDENT'S TERM IS EXTENDED TO SIX YEARS, DIVERGING FROM THE STANDARD THREE-YEAR TERMS FOR OTHER OFFICERS IN THE ORIGINAL BYLAWS. ADDITIONALLY, THE AMENDED BYLAWS MANDATE AN EXTERNAL, INDEPENDENT REVIEW OF THE ORGANIZATION EVERY FIVE YEARS, A NEW ACCOUNTABILITY MEASURE ABSENT IN THE ORIGINAL DOCUMENT. TOGETHER, THESE AMENDMENTS REINFORCE UATX'S COMMITMENT TO ENHANCED OVERSIGHT, OPERATIONAL CLARITY, AND INSTITUTIONAL INTEGRITY. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED UNDER THE SUPERVISION OF THE CHIEF FINANCIAL OFFICER AND THE CHIEF OF STAFF BY THE ORGANIZATION'S ACCOUNTING FIRM. THE COMPLETED FORM WAS THEN SHARED WITH THE OFFICERS, SENIOR MANAGEMENT AND KEY EMPLOYEES OF THE ORGANIZATION FOR REVIEW FOR ACCURACY. IT WAS THEN SUBSEQUENTLY SHARED WITH THE BOARD OF DIRECTORS FOR REVIEW AND CONCURRENCE. AFTER THESE REVIEWS, THE FORM WAS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY REQUIRES THAT ALL DIRECTORS, PRINCIPAL OFFICERS, OR MEMBERS OF COMMITTEES WHO HAVE THE POWER TO INFLUENCE FINANCIAL DECISIONS OF THE ORGANIZATION DISCLOSE THE EXISTENCE, OR POTENTIAL EXISTENCE OF ANY CONFLICTS OF INTEREST ANNUALLY AND AS THEY ARISE. ANNUALLY, THE BOARD SECRETARY IS RESPONSIBLE FOR ENSURING ALL POTENTIAL INTERESTED PARTIES SIGN A STATEMENT AFFIRMING THAT THEY HAVE RECEIVED AND UNDERSTAND THE POLICY AND WILL COMPLY. AT THE TIME OF SIGNING, THE PARTIES ARE REQUIRED TO DISCLOSE ANY POTENTIAL CONFLICTS OF INTEREST. IF A CONFLICT ARISES, IT IS THE RESPONSIBILITY OF THE REMAINING BOARD OR COMMITTEE MEMBERS TO DETERMINE WHETHER OR NOT A CONFLICT TRULY EXISTS AFTER THE INTERESTED PERSON HAS EXCUSED THEMSELVES FROM THE MEETING. IF A CONFLICT IS FOUND TO EXIST, THE INTERESTED PARTY IS EXCUSED FROM THE MEETING DURING ANY DISCUSSION OR VOTING ON THE MATTERS RELATED TO THEIR CONFLICT AND ABSTAINS FROM THE DISCUSSION AND VOTE. CONFLICTS OF INTEREST ARE REPORTED IN THE MINUTES OF THE MEETING WHERE THEY ARE DISCLOSED AND VOTED ON. FORM 990, PART VI, SECTION B, LINE 15 THE UNIVERSITY PRESIDENT'S COMPENSATION IS SET BY THE BOARD OF DIRECTORS AFTER COMPLETION OF A SALARY SURVEY AND REVIEW FOR PRESIDENTS AT SIMILARLY SITUATED AND SIZED INSTITUTIONS. THE SALARY IS CALIBRATED TO REFLECT THE EXPECTED SIZE AND TYPE OF UNIVERSITY THIS NONPROFIT ORGANIZATION IS LAUNCHING. THIS PROCESS AND ITS RESULTS ARE RECORDED AS PART OF THE MINUTES OF THE ORGANIZATION AND THE RESULTING SALARY BECOMES PART OF THE PUBLIC RECORD WHEN THE ORGANIZATION'S 990 IS FILED. COMPENSATION FOR OFFICERS AND KEY EMPLOYEES ARE PERIODICALLY REVIEWED BUT THE BOARD FINANCE COMMITTEE. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2024. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES IT'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTANTS & SERVICES FEES: PROGRAM SERVICE EXPENSES 673,877. MANAGEMENT AND GENERAL EXPENSES 1,506,941. FUNDRAISING EXPENSES 179,166. TOTAL EXPENSES 2,359,984. FORM 990, PART IX, LINE 24E PRINTING AND POSTAGE: PROGRAM SERVICE EXPENSES 23,467. MANAGEMENT AND GENERAL EXPENSES 6,690. FUNDRAISING EXPENSES 38,093. TOTAL EXPENSES 68,250. REPAIRS AND MAINTENANCE: PROGRAM SERVICE EXPENSES 9,634. MANAGEMENT AND GENERAL EXPENSES 40,056. FUNDRAISING EXPENSES 6,652. TOTAL EXPENSES 56,342. MISCELLANOUS: PROGRAM SERVICE EXPENSES 7,517. MANAGEMENT AND GENERAL EXPENSES 39,403. FUNDRAISING EXPENSES 122. TOTAL EXPENSES 47,042. MERCHANDISE EXPENSE: PROGRAM SERVICE EXPENSES 15,527. MANAGEMENT AND GENERAL EXPENSES 9,498. FUNDRAISING EXPENSES 4,446. TOTAL EXPENSES 29,471. FEES: PROGRAM SERVICE EXPENSES 1,046. MANAGEMENT AND GENERAL EXPENSES 12,716. FUNDRAISING EXPENSES 50. TOTAL EXPENSES 13,812. TELEPHONE: PROGRAM SERVICE EXPENSES 2,661. MANAGEMENT AND GENERAL EXPENSES 482. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,143. FORM 990, PART XII, LINE 2C: THE PROCESS AND OVERSIGHT FOR SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED SINCE THE PRIOR YEAR.