2025-05-08T12:30:54-05:00 2024-06-30 882730877 CHERRY BEKAERT ADVISORY LLC 1075 PEACHTREE STREET NE SUITE 1600 ATLANTA GA 30309 990 2023-07-01 741233796 SOUTHWESTERN UNIVERSITY SOUT 5128631956 1001 E UNIVERSITY AVE GEORGETOWN TX 78626 RICHARD MADONNA VP FOR FINANCE & ADMIN 5128631956 2025-05-06 1 1 BREE-ANN WEIDNER P01319397 4042090954 2023 2025-03-06 01:10:19Z LAURA SKANDERA TROMBLEY 1001 E UNIVERSITY AVE GEORGETOWN TX 78626 821028930 0 X WWW.SOUTHWESTERN.EDU X 1875 TX SOUTHWESTERN UNIVERSITY, UNDER THE AUSPICES OF THE UNITED METHODIST CHURCH, IS COMMITTED TO UNDERGRADUATE LIBERAL EDUCATION INVOLVING BOTH THE STUDY OF AND PARTICIPATION IN SIGNIFICANT ASPECTS OF OUR CULTURAL HERITAGE, EXPRESSED PRIMARILY THROUGH THE ARTS, THE SCIENCES, THE INSTITUTIONS AND THE PROFESSIONS OF SOCIETY. AS A TEACHING-LEARNING COMMUNITY, SOUTHWESTERN ENCOURAGES RIGOROUS INQUIRY AND SCHOLARSHIP, CREATIVE TEACHING, AND THE EXPRESSION OF FREE HUMAN LIFE. THE UNIVERSITY SEEKS TO INVOLVE THE STUDENT IN FINDING A PERSONAL AND SOCIAL DIRECTION FOR LIFE, DEVELOPING MORE SENSITIVE METHODS OF COMMUNICATION, CULTIVATING THOSE QUALITIES AND SKILLS WHICH MAKE FOR PERSONAL AND PROFESSIONAL EFFECTIVENESS, AND LEARNING TO THINK CLEARLY AND MAKE RELEVANT JUDGMENTS AND DISCRIMINATIONS. 39 37 1317 826 695962 0 23058990 13146379 82596430 86225972 39087471 28712588 1535932 1863012 146278823 129947951 41125002 42989335 0 0 38579044 40044015 0 0 2293454 45641251 36225553 125345297 119258903 20933526 10689048 643356651 668819229 126699005 124767291 516657646 544051938 X SOUTHWESTERN UNIVERSITY, UNDER THE AUSPICES OF THE UNITED METHODIST CHURCH, IS COMMITTED TO UNDERGRADUATE LIBERAL ARTS EDUCATION INVOLVING BOTH THE STUDY OF AND PARTICIPATION IN SIGNIFICANT ASPECTS OF OUR CULTURAL HERITAGE, EXPRESSED PRIMARILY THROUGH THE ARTS, THE SCIENCES, THE INSTITUTIONS, AND THE PROFESSIONS OF SOCIETY. SEE SCHEDULE O FORM 990, PART 1, LINE 1 NOTE FOR SOUTHWESTERN UNIVERSITY'S COMPLETE MISSION. 0 0 74548641 42989335 50347572 INSTRUCTIONAL SERVICES AND FINANCIAL ASSISTANCE: THE UNIVERSITY'S PRIMARY MISSION IS FOSTERING A LIBERAL ARTS EDUCATIONAL COMMUNITY OF THE HIGHEST CALIBER. THE UNIVERSITY SEEKS TO DEVELOP A COMMUNITY OF SCHOLARS IN BOTH ITS FACULTY AND STUDENT BODY THAT IS SELF-CRITICAL AND TOUGH-MINDED, AND THAT MAINTAINS RIGOROUS ACADEMIC STANDARDS. THROUGH ITS PAIDEIA PROGRAM, THE UNIVERSITY TRANSCENDS CONVENTIONAL APPROACHES TO TEACHING AND LEARNING THROUGH A STUDENT-DRIVEN, FACULTY-LED EXPERIENCE. THE PROGRAM EMPHASIZES INTELLECTUAL CURIOSITY, PROMOTES CONNECTIONS BETWEEN ACADEMIC COURSES, OFFERS INTERCULTURAL AND DIVERSITY EXPERIENCES, ENCOURAGES CIVIC ENGAGEMENT, AND SUPPORTS COLLABORATIVE OR GUIDED RESEARCH AND CREATIVE WORKS. FOR THE YEAR, THE UNIVERSITY PROVIDED SERVICES TO APPROXIMATELY 1,500 STUDENTS IN ITS ACADEMIC INSTRUCTIONAL PROGRAMS. MOST OF THE UNIVERSITY'S ENROLLMENT IS TRADITIONAL COLLEGE-AGE STUDENTS, AND FOR THE FALL 2023 SEMESTER, 98.9% WERE ENROLLED FULL-TIME (12 OR MORE CREDIT HOURS FOR THE SEMESTER). THE STUDENT-TEACHER RATIO WAS APPROXIMATELY 11:1 IN THE CURRENT YEAR. APPROXIMATELY 97% OF UNIVERSITY STUDENTS RECEIVE INSTITUTIONAL FINANCIAL ASSISTANCE. APPROXIMATELY 61% OF UNIVERSITY STUDENTS RECEIVED NEED-BASED FINANCIAL ASSISTANCE. 12941887 21450345 STUDENT SERVICES: THE UNIVERSITY SEEKS TO SUPPORT ITS PRIMARY ACADEMIC MISSION THROUGH ROBUST STUDENT SERVICES FOR ITS PRIMARILY RESIDENTIAL LIBERAL ARTS CAMPUS. STUDENT SERVICES INCLUDE THE POLICE DEPARTMENT, STUDENT ACTIVITIES, RESIDENTIAL LIFE ADMINISTRATION, CAREER COUNSELING SERVICES, STUDENT HEALTH AND COUNSELING SERVICES, NCAA III ATHLETICS, INTRAMURAL SPORTS, AND OTHER SERVICES VITAL TO SUPPORT A RESIDENTIAL ACADEMIC COMMUNITY OF THE HIGHEST CALIBER AND QUALITY. 11876270 15750346 AUXILIARY ENTERPRISES, INCLUDE STUDENT RESIDENTIAL CENTER OPERATIONS AND FOOD SERVICE OPERATIONS. FOR THIS ACADEMIC YEAR, APPROXIMATELY 71.8% OF THE STUDENT BODY LIVED ON CAMPUS IN RESIDENTIAL CENTERS. RESIDENTIAL CENTERS INCLUDE LIVING/LEARNING CENTERS WHICH INTEGRATE CLASSROOM AND OTHER EXPERIENCES INTO THE RESIDENTIAL ENVIRONMENT. FOOD SERVICES IS PROVIDED PRIMARILY FOR RESIDENTIAL AND NON-RESIDENTIAL STUDENT USAGE, FACULTY, STAFF, AND GUESTS OF THE UNIVERSITY. AUXILIARY ENTERPRISES EXPENSES INCLUDE DEPRECIATION, INTEREST, AND PHYSICAL PLANT EXPENSE ALLOCATIONS. 99366798 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 0 1 1 1 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 0 1 0 1 0 1 0 0 0 0 1 1 1 0 0 1 2489 0 1 1317 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 39 37 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X X ROBERT LEONARD 5128631956 1001 E UNIVERSITY AVE GEORGETOWN TX 78626 LAURA SKANDERA TROMBLEY TRUSTEE & PRESIDENT 39.90 0.10 X X 744323 0 155488 CHRISTOPHER E CRAGG TRUSTEE & CHAIR 4.00 0.10 X X 0 0 0 SYLVIA J KERRIGAN TRUSTEE & VICE CHAIR 3.50 0.00 X X 0 0 0 R GRIFFIN LORD TRUSTEE & SEC/TREAS 3.00 0.10 X X 0 0 0 MELISSA T ANDERSON TRUSTEE 3.00 0.00 X 0 0 0 H BRENT AUSTIN TRUSTEE 3.00 0.00 X 0 0 0 PAM SLAUGHTER BUSH TRUSTEE 3.00 0.00 X 0 0 0 JORGE C DIAZ CUERVO TRUSTEE 3.00 0.00 X 0 0 0 CYNTHIA F HARVEY TRUSTEE 3.00 0.00 X 0 0 0 CAROL C HERDER TRUSTEE 3.50 0.00 X 0 0 0 LAURA K HINSON TRUSTEE 3.00 0.00 X 0 0 0 BRIAN T JACKSON TRUSTEE 3.50 0.00 X 0 0 0 JEAN T JANSSEN TRUSTEE 3.00 0.00 X 0 0 0 GLOVER OL JOHNSON III TRUSTEE 3.00 0.00 X 0 0 0 DALE T KNOBEL TRUSTEE 3.00 0.00 X 0 0 0 FRANK P KRASOVEC TRUSTEE 3.50 0.00 X 0 0 0 KEVIN J LILLY TRUSTEE 3.00 0.00 X 0 0 0 JAY MARSHALL TRUSTEE 3.00 0.00 X 0 0 0 CRAIG MCKINNEY TRUSTEE 3.00 0.00 X 0 0 0 AMANDA M MCMILLIAN TRUSTEE 3.00 0.00 X 0 0 0 CASSANDRA M MCZEAL TRUSTEE 3.50 0.00 X 0 0 0 ELIZABETH G MEDINA TRUSTEE 3.00 0.00 X 0 0 0 MARY E MEDLEY TRUSTEE 3.50 0.00 X 0 0 0 LAURA A MERRILL TRUSTEE 3.00 0.00 X 0 0 0 BELEN C MICKLAS TRUSTEE 3.00 0.00 X 0 0 0 LYNN PARR MOCK TRUSTEE 3.50 0.00 X 0 0 0 THOMAS J PACE III TRUSTEE 3.00 0.00 X 0 0 0 CLAIRE PEEL TRUSTEE 3.50 0.00 X 0 0 0 REX L PREIS TRUSTEE 3.50 0.00 X 0 0 0 STEVEN A RABEN TRUSTEE 3.00 0.00 X 0 0 0 RICKY A RAVEN TRUSTEE 3.00 0.00 X 0 0 0 MAX SCHEIN TRUSTEE 3.00 0.00 X 0 0 0 KENNETH SNODGRASS TRUSTEE 3.50 0.00 X 0 0 0 H BLAKE STANFORD TRUSTEE 3.50 0.00 X 0 0 0 VERONICA V STIDVENT TRUSTEE 3.00 0.00 X 0 0 0 JAVIER URIBE TRUSTEE 3.00 0.00 X 0 0 0 LORRI J WHITE TRUSTEE 3.00 0.00 X 0 0 0 K ELIZABETH YEAGER TRUSTEE 3.00 0.00 X 0 0 0 MIGUEL J ZORRILLA TRUSTEE 3.50 0.00 X 0 0 0 LENORA CHAPMAN VP FOR FINANCE & ADMINISTRATION 39.90 0.10 X 289289 0 32192 J PAUL SECORD VP FOR UNIVERSITY RELATIONS 40.00 0.00 X 256424 0 21349 THOMAS DELAHUNT VP FOR STRATEGIC RECRUITMENT & ENROLLMENT 40.00 0.00 X 249879 0 35983 ALISA MCALISTER GAUNDER DEAN OF THE FACULTY 40.00 0.00 X 227942 0 31177 KENT HUNTSMAN INTERIM VP FOR UNI. RELATIONS & AVP FOR DEV. 39.90 0.10 X 186371 0 31158 DAVID OCHSNER VP FOR COMMUNICATIONS 40.00 0.00 X 186117 0 23752 KEN RALPH DIRECTOR OF INTRECOLLEGIATE ATHLETICS 40.00 0.00 X 181512 0 13076 DAVID SANCHEZ AVP FOR INFO TECH AND CIO 40.00 0.00 X 176861 0 25771 JULIE A COWLEY AVP FOR ACADEMIC AFFAIRS 40.00 0.00 X 152638 0 28078 HEATH ROBERIE ASST FOR BUDGETING AND PLANNING 40.00 0.00 X 150701 0 26949 RICHARD MARTINEZ AVP FOR FACILITIES MANAGEMENT 40.00 0.00 X 137127 0 27457 BENJAMIN PIERCE PROFESSOR OF BIOLOGY 40.00 0.00 X 135150 0 27052 LAURA HOBGOOD PROFESSOR OF RELIGION 40.00 0.00 X 133045 0 20275 3207379 0 499757 40 0 1 0 TEXAS AIR SYSTEMS LLC 6029 W CAMPUS CIRCLE DR STE 100 IRVING TX 75063 GENERAL CONTRACTOR 10408340 ARAMARK SERVICES INC 2400 MARKET STREET PHILADELPHIA PA 78704 FOOD SERVICE 4595024 2TP SERVICES 3809 S GENERAL BRUCE DR STE 103 TEMPLE TX 76502 GENERAL CONTRACTOR 1708586 KIRKSEY ARCHITECTS INC 6909 PORTWEST DR HOUSTON TX 77024 ARCHITECTURE SERVICES 1201118 JOERIS GENERAL CONTRACTORS LTD 823 ARION PARKWAY SAN ANTONIO TX 78216 GENERAL CONTRACTOR 1197470 27 22163 1213764 11910452 1426930 13146379 TUITION & FEES 611310 71797913 71797913 AUXILIARY ENTERPRISES 611710 14428059 13901760 526299 86225972 6077694 169663 5908031 2507047 2507047 14744 14744 2600 0 2600 2600 2600 711051419 154485 688900039 2178018 22151380 -2023533 20127847 20127847 0 22163 2922 -2922 -2922 SUMMER STUDY ABROAD 611710 378886 378886 CAR REGISTRATION FEES 812930 240925 240925 ORIENTATION FEES 611310 86400 86400 1142379 1142379 1848590 129947951 87548263 695962 28557347 42636307 42636307 353028 353028 2541201 731721 1282224 527256 28854774 22845965 4969915 1038894 1600266 1248405 289531 62330 4871812 3308331 1439688 123793 2175962 1639550 442063 94349 241853 241853 84958 84958 2617485 2617485 5283263 5019068 186705 77490 19133 18973 160 978288 779543 172951 25794 2551204 417675 2120437 13092 5855 5855 3090667 2828601 244987 17079 1827632 1616632 143860 67140 312472 270921 40724 827 977820 923147 46536 8137 7364515 6557426 745804 61285 1090064 877194 207377 5493 MAINTENANCE 961782 845094 108684 8004 LIBRARY 689403 689403 HOUSING 621823 621823 ATHLETICS 593917 568670 25247 6913419 4563466 2187622 162331 119258903 99366798 17598651 2293454 -350741 967064 23304778 18371550 12394172 10996160 1918550 1845498 915502 895180 102379 116697 1547997 1490884 291656731 128478919 148168207 163177812 81523173 230171636 368535055 235108212 5297579 5678536 643356651 668819229 13216077 12023644 1074252 908093 3074988 3418212 103557196 101759284 2388260 3815175 3388232 2842883 126699005 124767291 X 173333706 176380255 343323940 367671683 516657646 544051938 643356651 668819229 X 10689048 16122498 582746 X 0 1 X 1 1 1 X 9972050 22550257 12875000 23058990 13146379 81602676 9972050 22550257 12875000 23058990 13146379 81602676 10823731 70778945 7567464 10420930 11231529 16762865 8432422 54415210 136017886 403484284 0.52040 0.51580 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 377085053 1766290 40540817 3708923 11955723 403727514 366389813 10203746 15761584 3667012 11603078 377085053 364860834 27507645 -11888892 3247133 10842641 366389813 289412311 4167526 86445644 3586016 11578631 364860834 296412699 3895448 1160633 2834498 9221971 289412311 0.15230 0.84770 0.00000 1 0 6337858 111510 6449368 225663423 81039729 144623694 38541398 31730443 6810955 21002542 15708747 5293795 163177812 EQUITY FUNDS 2598471 F FIXED INCOME FUNDS 78393363 F PARTNERSHIP INTERESTS 44245288 F PRIVATE CAPITAL 84547879 F PRIVATE CREDIT 13005587 F PRIVATE EQUITY 5329551 F REAL ESTATE 6988073 F 235108212 ACCRUED POST-RETIREMENT BENEFITS 2831483 OTHER LONG TERM LIABILITIES 11400 2842883 X PART III, LINE 1A: THE UNIVERSITY HAS 19 COLLECTIONS WITHIN THE SPECIAL COLLECTIONS OF THE A. FRANK SMITH, JR. LIBRARY CENTER THAT CONTAIN A VARIETY OF BOOKS, RECORDS, PAPERS, MAPS, AND MANUSCRIPTS THAT ARE PROTECTED AND PRESERVED FOR PUBLIC EXHIBITION, EDUCATION, RESEARCH, AND THE FURTHERANCE OF PUBLIC SERVICE. THEY ARE NEITHER DISPOSED OF FOR FINANCIAL GAIN NOR ENCUMBERED IN ANY MANNER. ACCORDINGLY, SUCH COLLECTIONS ARE NOT REPORTED FOR FINANCIAL STATEMENT PURPOSES. PART III, LINE 4: SEE EXPLANATION PROVIDED ABOVE. PART V, LINE 4: SOUTHWESTERN UNIVERSITY ENDOWMENTS INCLUDE DONOR RESTRICTED ENDOWMENT FUNDS AND BOARD-DESIGNATED FUNDS FUNCTIONING AS ENDOWMENT FUNDS. ALL DONOR RESTRICTED ENDOWMENTS ARE USED ONLY AS THE DONORS INTENDED PER THE DONOR RESTRICTIONS. THE BOARD-DESIGNATED FUNDS SUPPORT GENERAL PROGRAM SERVICES OF THE UNIVERSITY. THE PERCENTAGE REPORTED FOR PERMANENT ENDOWMENTS INCLUDES AMOUNTS THAT MUST BE MAINTAINED IN PERPETUITY AS WELL AS ACCUMULATED EARNINGS ON SUCH AMOUNTS THAT HAVE NOT YET BEEN APPROPRIATED FOR EXPENDITURE. PART X, LINE 2: THE UNIVERSITY CLAIMS EXEMPTION FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, CERTAIN INCOME UNRELATED TO ITS EXEMPT FUNCTION IS SUBJECT TO INCOME TAXATION. THE UNIVERSITY'S POLICY IS TO RECORD A LIABILITY FOR ANY TAX POSITION TAKEN THAT IS BENEFICIAL TO THE UNIVERSITY WHEN IT IS MORE LIKELY THAN NOT THE POSITION WILL BE OVERTURNED BY A TAXING AUTHORITY UPON EXAMINATION. MANAGEMENT BELIEVES THERE ARE NO SUCH POSITIONS AS OF JUNE 30, 2024 AND 2023 AND, ACCORDINGLY, NO LIABILITY HAS BEEN ACCRUED. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 A NONDISCRIMINATION STATEMENT IS POSTED ON THE UNIVERSITY'S WEBSITE AT WWW.SOUTHWESTERN.EDU. SCHEDULE E, PART I, LINE 6 THE UNIVERSITY RECEIVES FINANCIAL AID FROM BOTH THE FEDERAL GOVERNMENT AND THE STATE OF TEXAS, WHICH IS AWARDED TO STUDENTS USING THE DEPARTMENT OF EDUCATION METHODOLOGY. THE MAIN FEDERAL FINANCIAL ASSISTANCE PROGRAMS FOR STUDENTS INCLUDE: FEDERAL DIRECT LOANS, FEDERAL PELL GRANTS, FEDERAL WORK-STUDY, AND FEDERAL SEOG. THE MAIN STATE FINANCIAL ASSISTANCE GRANT IS THE TUITION EQUALIZATION GRANT. THE UNIVERSITY ALSO RECEIVES FEDERAL FINANCIAL ASSISTANCE FOR ACADEMIC GRANTS AND RESEARCH. 1 CENTRAL AMERICA AND THE CARIBBEAN 1 0 INVESTMENTS 1959450 CENTRAL AMERICA AND THE CARIBBEAN 0 4 GRANTMAKING 47822 EAST ASIA AND THE PACIFIC 0 3 GRANTMAKING 33427 EUROPE 6 0 PROGRAM SERVICES STUDY ABROAD PROGRAMS 174343 EUROPE 0 22 GRANTMAKING 213191 NORTH AMERICA 0 16 GRANTMAKING 30360 SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 0 2 GRANTMAKING 25532 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 1 GRANTMAKING 2696 7 48 0 0 7 48 2486821 0 2486821 FACULTY/STAFF DEVELOPMENT & RESEARCH CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 4 6322 CHECK MERIT BASED AWARD CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 17 14600 CHECK NEED BASED AWARD CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 17 26900 CHECK FACULTY/STAFF DEVELOPMENT & RESEARCH EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 3 5677 CHECK MERIT BASED AWARD EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 5 9500 CHECK NEED BASED AWARD EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 4 18250 CHECK FACULTY/STAFF DEVELOPMENT & RESEARCH EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 22 49966 CHECK MERIT BASED AWARD EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 69 75350 CHECK NEED BASED AWARD EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 29 87875 CHECK FACULTY/STAFF DEVELOPMENT & RESEARCH NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 16 20610 CHECK MERIT BASED AWARD NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 4 6700 CHECK NEED BASED AWARD NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 3 3050 CHECK FACULTY/STAFF DEVELOPMENT & RESEARCH SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 2 5804 CHECK MERIT BASED AWARD SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 9 7628 CHECK NEED BASED AWARD SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 9 12100 CHECK FACULTY/STAFF DEVELOPMENT & RESEARCH SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 1 2696 CHECK 1 0 1 1 1 0 PART I, LINE 2: STUDENTS AT SOUTHWESTERN UNIVERSITY ARE ENCOURAGED TO APPLY FOR THE STUDY ABROAD PROGRAMS THROUGH THE OFFICE OF STUDY ABROAD & INTERNATIONAL STUDENT SERVICES. STUDENTS ATTEND GENERAL ADVISING SESSIONS AND ONE-ON-ONE ADVISING SESSIONS TO DISCUSS THEIR MAJOR, ELIGIBILITY, BEST OPTIONS AND GOALS, AND TO IDENTIFY THE APPROPRIATE STUDY ABROAD PROGRAM. BOTH THE OFFICE OF FINANCIAL AID AND THE OFFICE OF STUDY ABROAD & INTERNATIONAL STUDENT SERVICES MEET TO REVIEW ALL THE STUDENTS ACCEPTED IN THE STUDY ABROAD PROGRAM AND TO DETERMINE FINANCIAL AID ELIGIBILITY. SCHOLARSHIPS ARE AWARDED TO THE STUDENTS BASED ON FINANCIAL NEED AND PARTICIPATION IN APPROVED PROGRAMS. THE OFFICE OF FINANCIAL AID AND ITS OPERATIONS ARE SUBJECT TO INTERNAL CONTROL REVIEW BY THE UNIVERSITY'S EXTERNAL AUDITORS AS PART OF THE FINANCIAL STATEMENT AUDIT. FUNDS ARE ALSO MONITORED BY THE REVIEW AND OVERSIGHT OF SENIOR MANAGEMENT, SENIOR STAFF, THE DEAN OF ENROLLMENT SERVICES, AND THE BUSINESS OFFICE, ALL OF WHICH ARE UNDER REVIEW OF THE AUDIT COMMITTEE AND THE FISCAL AFFAIRS COMMITTEE OF THE BOARD OF TRUSTEES. PAYMENTS FOR CERTAIN SCHOLARSHIPS ARE MADE DIRECTLY TO THE INSTITUTIONS SPONSORING THE STUDY ABROAD PROGRAM. SOUTHWESTERN UNIVERSITY'S METHOD OF ACCOUNTING FOR THESE EXPENDITURES INCLUDES USING DIFFERENT ACCOUNT NUMBERS TO TRACK THE DIFFERENT STUDY ABROAD PROGRAMS, SCHOLARSHIP EXPENSES, AND FOREIGN TRAVEL. PART I, LINE 3: THE ACCRUAL-BASED METHOD IS USED TO ACCOUNT FOR EXPENDITURES. THE AMOUNT REPORTED FOR INVESTMENTS REPRESENTS THE FAIR MARKET VALUE OF INVESTMENTS HELD AT THE END OF THE FISCAL YEAR. JAMESON 5K 22163 22163 2922 22163 22163 2922 2922 -2922 1 SCHOLARSHIPS AND GRANTS 1458 41341122 TUITION WAIVERS 30 1295185 TUITION RATES TUITION WAIVERS - FACULTY AND STAFF PART I, LINE 2: THE UNIVERSITY AWARDS VARIOUS FEDERAL, STATE, AND PRIVATE SCHOLARSHIPS, LOANS, AND STUDENT WORK PROGRAMS AS PART OF ITS OVERALL FINANCIAL AID PROGRAM. THE UNIVERSITY FINANCIAL AID OFFICE IS RESPONSIBLE FOR MANAGEMENT OF ALL FINANCIAL AID PROGRAMS. THE UNIVERSITY USES THE DEPARTMENT OF EDUCATION METHODOLOGY TO DETERMINE FAMILY NEED FOR AWARDING NEED-BASED AWARDS. MERIT BASED AWARDS ARE DETERMINED BASED ON VARIOUS ACADEMIC MEASURES (GPA, RANK IN CLASS, ETC.) AS WELL AS OTHER QUALITATIVE MEASURES. IT IS THE RESPONSIBILITY OF THE FINANCIAL AID OFFICE TO ENSURE COMPLIANCE WITH FEDERAL AND STATE REGULATIONS ON FINANCIAL AID & EMERGENCY GRANTS, AND THE UNIVERSITY POLICY AND INTERNAL CONTROL OBJECTIVES. THE FINANCIAL AID OFFICE AND ITS OPERATIONS ARE SUBJECT TO INTERNAL CONTROL REVIEW BY THE UNIVERSITY'S EXTERNAL AUDITORS AS PART OF THE ANNUAL FINANCIAL STATEMENT AUDIT. ADDITIONAL MONITORING IS ALSO PROVIDED THROUGH THE REVIEW AND OVERSIGHT OF SENIOR MANAGEMENT, SENIOR STAFF, THE VICE PRESIDENT OF ENROLLMENT SERVICES, AND THE BUSINESS OFFICE, ALL OF WHICH ARE UNDER THE PURVIEW OF THE AUDIT COMMITTEE AND THE BOARD OF TRUSTEES' FISCAL AFFAIRS COMMITTEE. ADDITIONALLY, THE UNIVERSITY'S AWARDING AND MANAGEMENT OF FINANCIAL AID AWARDS IS SUBJECT TO AN ANNUAL SINGLE AUDIT (CIRCULAR A-133) AND STATE OF TEXAS AUDITS (FOR VARIOUS STATE FINANCIAL AID PROGRAMS). RESULTS OF THESE AUDITS ARE REPORTED TO THE UNIVERSITY SENIOR STAFF, THE BOARD OF TRUSTEES' AUDIT COMMITTEE, AND THE BOARD OF TRUSTEES FISCAL AFFAIRS COMMITTEE. X X X X 1 1 X X X X 1 0 0 0 0 0 0 0 0 LAURA SKANDERA TROMBLEY TRUSTEE & PRESIDENT 664471 0 27500 0 52352 0 23100 0 132388 0 899811 0 0 0 LENORA CHAPMAN VP FOR FINANCE & ADMINISTRATION 289289 0 0 0 0 0 20292 0 11900 0 321481 0 0 0 THOMAS DELAHUNT VP FOR STRATEGIC RECRUITMENT & ENROL 244879 0 0 0 5000 0 17675 0 18308 0 285862 0 0 0 J PAUL SECORD VP FOR UNIVERSITY RELATIONS 253380 0 0 0 3044 0 10951 0 10398 0 277773 0 0 0 ALISA MCALISTER GAUNDER DEAN OF THE FACULTY 227942 0 0 0 0 0 16211 0 14966 0 259119 0 0 0 KENT HUNTSMAN INTERIM VP FOR UNI. RELATIONS & AVP 186371 0 0 0 0 0 11695 0 19463 0 217529 0 0 0 DAVID OCHSNER VP FOR COMMUNICATIONS 186117 0 0 0 0 0 13103 0 10649 0 209869 0 0 0 DAVID SANCHEZ AVP FOR INFO TECH AND CIO 176861 0 0 0 0 0 11192 0 14579 0 202632 0 0 0 KEN RALPH DIRECTOR OF INTRECOLLEGIATE ATHLETIC 181512 0 0 0 0 0 2818 0 10258 0 194588 0 0 0 JULIE A COWLEY AVP FOR ACADEMIC AFFAIRS 146438 0 6200 0 0 0 11021 0 17057 0 180716 0 0 0 HEATH ROBERIE ASST FOR BUDGETING AND PLANNING 150701 0 0 0 0 0 10823 0 16126 0 177650 0 0 0 RICHARD MARTINEZ AVP FOR FACILITIES MANAGEMENT 137127 0 0 0 0 0 9966 0 17491 0 164584 0 0 0 BENJAMIN PIERCE PROFESSOR OF BIOLOGY 131475 0 3675 0 0 0 9625 0 17427 0 162202 0 0 0 LAURA HOBGOOD PROFESSOR OF RELIGION 126845 0 6200 0 0 0 8924 0 11351 0 153320 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE AND RESIDENCE FOR PERSONAL USE AND PERSONAL SERVICES: THE UNIVERSITY REQUIRES THE PRESIDENT TO RESIDE IN THE TURNER FLEMING HOUSE, LOCATED ON CAMPUS, FOR THE CONVENIENCE OF THE UNIVERSITY, AS PART OF HER EMPLOYMENT CONTRACT WITH THE UNIVERSITY. THE TURNER FLEMING HOUSE IS USED BY THE PRESIDENT FOR PERSONAL RESIDENCE, HOSTING VARIOUS MEETINGS AND BUSINESS-RELATED SOCIAL EVENTS AND OTHER UNIVERSITY FUNCTIONS. THE UNIVERSITY PROVIDES HOUSEKEEPING, GROUNDS KEEPING, AND MAINTENANCE SERVICE CONSISTENT WITH OTHER UNIVERSITY BUILDINGS. THE VALUATION FOR PERSONAL USAGE OF THE TURNER FLEMING HOUSE, AS REPORTED IN HOUSING ALLOWANCE ON SCHEDULE J, PART II, COLUMN (D), NONTAXABLE BENEFITS, INCLUDES THE ESTIMATED FAIR MARKET RENTAL VALUE, UTILITIES, HOUSEKEEPING, AND GROUNDS KEEPING SERVICES. SOCIAL CLUB DUES OR INITIATION FEES AND TAX INDEMNIFICATION AND GROSS-UP PAYMENTS: THE UNIVERSITY PROVIDES THREE SOCIAL CLUB MEMBERSHIPS FOR THE PRESIDENT OF THE UNIVERSITY. THE MEMBERSHIPS ARE USED PRIMARILY FOR HOSTING GUESTS DURING FUNDRAISING MEETINGS AND OTHER BUSINESS-RELATED MEETINGS. THE UNIVERSITY PAYS PAYROLL TAX OBLIGATIONS RELATED TO TWO SOCIAL DUES MEMBERSHIPS. THE GROSS-UP PAYMENT AND THE UNIVERSITY-PROVIDED MEMBERSHIPS ARE TREATED AS TAXABLE COMPENSATION AND ARE REPORTED ON HER W-2. PART I, LINE 4A DAVID OCHSNER TERMINATED WITH THE UNIVERSITY 12/31/2023 AND RECEIVED A SEVERENCE PAYOUT OF $39,313. THE TERMS AND CONDITIONS ARE CONSISTENT WITH INDUSTRY STANDARDS. A CLIFTON HIGHER EDUCATION FINANCE 800349380 187155AX4 2017-12-28 26347790 SCIENCE BUILDING CONSTRUCTION 0 0 0 B CLIFTON HIGHER EDUCATION FINANCE 800349380 187155BR6 2022-08-30 80796814 CAPITAL PROJECTS 0 0 0 A 2655000 26936554 347790 26588764 2020 0 0 1 1 B 1225000 80796814 796814 80000000 0 0 0 0 A 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 B 0 0 0 0 0.00000 0.00000 0.00000 0 0 1 A 0 0 1 1 0 0 1 BAYERISCHE LANDESBANK 1.800000000000 1 0 1 B 0 1 0 1 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: CLIFTON HIGHER EDUCATION FINANCE DATE THE REBATE COMPUTATION WAS PERFORMED: 01/07/2021 ISSUER NAME: CLIFTON HIGHER EDUCATION FINANCE DATE THE REBATE COMPUTATION WAS PERFORMED: 08/30/2023 PART II, LINE 3, COL (B): THE AMOUNT REPORTED ON LINE 3 FOR THE TOTAL PROCEEDS OF ISSUE IS DIFFERENT FROM THE AMOUNT REPORTED IN PART I, COLUMN (E) AS THE ISSUE PRICE FOR THE CLIFTON HIGHER EDUCATION FINANCE ISSUE FOR THE FOLLOWING ITEMS: 1. THE UNDERWRITERS DISCOUNT 2. INVESTMENT EARNINGS ON UNSPENT PROCEEDS 8574 STAFF SCHOLARSHIP EDUCATION 33750 MERIT BASED SCHOLARSHIP EDUCATION MATTHEW L CRAGG RELATED TO TRUSTEE 20316 EMPLOYMENT 0 X 1001 $1 OR STATED VALUE X 5071 $1 OR STATED VALUE X 14 1410955 HIGH-LOW AVERAGE X 1 3011 $1 OR STATED VALUE X CAMPUS DECOR 2 3309 $1 OR STATED VALUE X MEALS/FOOD GIFT CARDS 6 2745 COST X OTHER 5 838 $1 OR STATED VALUE 0 0 1 1 PART I, COLUMN (B): THE NUMBER REPORTED IN COLUMN B OF SCHEDULE M FOR ALL DONATIONS REPRESENTS THE NUMBER OF CONTRIBUTIONS FOR EACH RESPECTIVE CATEGORY. PART I, LINE 32B: REGIONS BANK IS THE CUSTODIAL BANK OF SOUTHWESTERN UNIVERSITY. GIFTS OF SECURITIES ARE TRANSFERRED BY THE DONOR TO VARIOUS BROKERS HIRED BY THE UNIVERSITY. THE BROKERS THEN CONTACT UNIVERSITY RELATIONS AT SOUTHWESTERN UNIVERSITY TO INFORM THE UNIVERSITY OF THE GIFT RECEIPT. SOUTHWESTERN THEN INSTRUCTS THE BROKERS TO SELL THE SECURITIES AT CURRENT MARKET VALUE. THE PROCEEDS FROM THE SALE ARE TRANSFERRED TO THE UNIVERSITY'S OPERATING, RESTRICTED, OR ENDOWED ACCOUNTS FOR USE IN ACCORDANCE WITH THE DONOR'S RESTRICTION, IF ANY. FORM 990, PART VI, SECTION A, LINE 1A ALL TRUSTEES ELECTED TO THE BOARD OF TRUSTEES HAVE THE SAME VOTING RIGHTS. IN BETWEEN SCHEDULED MEETINGS OF THE TRUSTEES, THE UNIVERSITY'S BYLAWS EMPOWER THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES TO ACT ON A BROAD RANGE OF ISSUES AND MATTERS. THE COMMITTEE SHALL, SUBJECT TO THE CONTROL OF THE BOARD OF TRUSTEES, HAVE AUTHORITY TO: EXERCISE SUPERVISION AND CONTROL OVER THE INVESTMENT OF ENDOWMENT FUNDS; EXERCISE SUPERVISION AND CONTROL OVER ERECTION OF BUILDINGS; NEGOTIATE AND PROCURE LOANS; DESIGNATE THOSE EMPLOYEES AND OFFICERS FOR WHOM DISHONESTY INSURANCE IS REQUIRED; HAVE THE RIGHT TO SELL, LEASE, CONVEY, OR TRANSFER BOTH REAL AND PERSONAL PROPERTY BELONGING TO THE UNIVERSITY, EXCEPT THAT THE EXECUTIVE COMMITTEE SHALL NOT SELL ANY OF THE PROPERTY USED FOR THE UNIVERSITY PURPOSES PROPER; AND PERFORM OTHER DUTIES AND EXERCISE SUCH OTHER POWERS AS THE BOARD OF TRUSTEES MAY DELEGATE. ALL ACTIONS OF THE EXECUTIVE COMMITTEE ARE RECORDED IN OFFICIAL RECORD MEETING MINUTES WHICH ARE REPORTED AT THE NEXT MEETING OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7A THE BOARD OF TRUSTEES SHALL COMPRISE NOT MORE THAN 45 TRUSTEES, EXCLUDING ANY HONORARY TRUSTEES, AND SHALL BE COMPOSED AS FOLLOWS: (A) CONFERENCE TRUSTEES EIGHTEEN TRUSTEES CONSISTING OF FOUR PERSONS FROM EACH OF THE CENTRAL TEXAS, NORTH TEXAS, RIO TEXAS, AND TEXAS ANNUAL CONFERENCES OF THE UNITED METHODIST CHURCH AND TWO PERSONS FROM THE NORTHWEST TEXAS ANNUAL CONFERENCE OF THE UNITED METHODIST CHURCH. CONFERENCE TRUSTEES ARE NOMINATED BY THE UNIVERSITY'S BOARD OF TRUSTEES, UPON RECOMMENDATION OF THE BOARD'S TRUSTEESHIP COMMITTEE, AND ELECTED BY THEIR RESPECTIVE CONFERENCES. THE CONFERENCES ELECTING CONFERENCE TRUSTEES ARE REFERRED TO AS THE UNIVERSITY'S "PATRONIZING CONFERENCES." (B) EPISCOPAL TRUSTEES TWO BISHOPS OF THE UNITED METHODIST CHURCH NOMINATED AND ELECTED BY THE BISHOPS OF THE UNIVERSITY'S PATRONIZING CONFERENCES AFTER CONSULTATION REGARDING EACH INDIVIDUAL NOMINEE WITH THE BOARD'S TRUSTEESHIP COMMITTEE, GIVING DUE REGARD TO THE COMMENTS, REQUESTS, AND CONCERNS OF THAT COMMITTEE. AT LEAST ONE OF THE EPISCOPAL TRUSTEES SERVING AT ANY GIVEN TIME MUST BE A BISHOP OF ONE OF THE UNIVERSITY'S PATRONIZING CONFERENCES. PER THE BYLAWS OF SOUTHWESTERN UNIVERSITY, ANY CHANGE IN THE COMPOSITION OF THE BOARD OF TRUSTEES OR THE METHOD OF SELECTION FOR MEMBERSHIP ON THE BOARD SHALL BE CONFIRMED BY THE UNIVERSITY'S PATRONIZING CONFERENCES. THE TERM "PATRONIZING CONFERENCES" REFERS TO THE CONFERENCES OF THE UNITED METHODIST CHURCH THAT ELECT MEMBERS TO THE UNIVERSITY'S BOARD OF TRUSTEES, NAMELY THE CENTRAL TEXAS, NORTH TEXAS, NORTHWEST TEXAS, RIO TEXAS, AND TEXAS ANNUAL CONFERENCES. FORM 990, PART VI, SECTION A, LINE 7B ALL MATTERS REQUIRING CONFIRMATION OR ACTION BY THE PATRONIZING CONFERENCES SHALL BE ACCOMPLISHED AS FOLLOWS: (A) THE MATTERS SHALL BE SUBMITTED BY THE UNIVERSITY TO THE RESPECTIVE PATRONIZING CONFERENCES AT LEAST 90 DAYS PRIOR TO EACH PATRONIZING CONFERENCE'S NEXT ANNUAL SESSION. (B) REGARDING ELECTION OF CONFERENCE TRUSTEES, ELECTION SHALL BE ACCOMPLISHED UPON A MAJORITY VOTE AT THE RESPECTIVE CONFERENCE'S ANNUAL SESSION. (C) REGARDING MATTERS REQUIRING COLLECTIVE CONFIRMATION OF PATRONIZING CONFERENCES, CONFIRMATION SHALL BE ACCOMPLISHED UPON THE AFFIRMATIVE VOTE OF THREE-FIFTHS OF THE PATRONIZING CONFERENCES, WITH EACH PATRONIZING CONFERENCE HAVING ONE VOTE. (D) SHOULD ANY PATRONIZING CONFERENCE FAIL TO NOTIFY THE BOARD OF TRUSTEES OF ITS ACTION ON ANY MATTER REQUIRING CONFIRMATION OR ACTION WITHIN 30 DAYS FOLLOWING THE CLOSE OF ITS NEXT ANNUAL SESSION BEFORE WHICH THE MATTER WAS SUBMITTED BY THE UNIVERSITY, THE MATTER SHALL BE DEEMED ACTED UPON AFFIRMATIVELY OR CONFIRMED. (E) ACTIONS THAT REQUIRE CONFIRMATION BY THE PATRONIZING CONFERENCES SHALL BE SPECIFICALLY DESIGNATED IN THE CERTIFICATE OF FORMATION AND BYLAWS, AS APPLICABLE. FORM 990, PART VI, SECTION B, LINE 11B AN EXTERNAL ACCOUNTING FIRM REVIEWS THE COMPLETED RETURN PREPARED BY INTERNAL STAFF. THE ADMINISTRATION AND OTHER STAFF COMPLETE SUB-CERTIFICATION STATEMENTS ADDRESSING THEIR INDIVIDUAL AREAS OF RESPONSIBILITIES. THE COMPLETED RETURN IS REVIEWED BY THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION. THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION PRESENTS THE COMPLETED RETURN TO THE BOARD OF TRUSTEES AUDIT COMMITTEE, WHICH HAS OVERSIGHT RESPONSIBILITY FOR THE FORM 990. AFTER REVIEW BY THE AUDIT COMMITTEE, A COPY OF THE RETURN IS MADE AVAILABLE TO THE FULL BOARD OF TRUSTEES FOR THEIR REVIEW BEFORE FILING. BOARD MEMBERS REVIEW THE RETURN AND SEND A CONFIRMATION OF THEIR REVIEW. ANY COMMENTS ARE SUBMITTED IN WRITING TO THE AUDIT COMMITTEE/VP FOR FINANCE AND ADMINISTRATION. THE RETURN IS THEN FILED ELECTRONICALLY WITH THE IRS BY THE EXTERNAL TAX ACCOUNTING FIRM. ADDITIONALLY, THE UNIVERSITY'S EXTERNAL AUDITING FIRM REVIEWS THE PRIOR YEAR RETURN FOR COMPLETENESS AND ACCURACY RELEVANT TO THE SCOPE AND DUE DILIGENCE REQUIREMENTS OF THE AUDITING PROCESS, AND REPORTS ANY SIGNIFICANT OR MATERIAL WEAKNESSES NOTED TO THE BOARD OF TRUSTEES AUDIT COMMITTEE. THE AUDIT COMMITTEE HAS OVERSIGHT RESPONSIBILITY AND AUTHORITY TO ENSURE NOTED WEAKNESSES OR ERRORS ARE CORRECTED. THE AUDIT COMMITTEE REPORTS REGULARLY TO THE FULL BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 12C THE BOARD OF TRUSTEES HAS DELEGATED ONGOING OVERSIGHT OF THE UNIVERSITY'S CONFLICT OF INTEREST POLICY TO THE BOARD OF TRUSTEES AUDIT COMMITTEE AS A PERMANENT DUTY OF THE AUDIT COMMITTEE'S CHARTER. THE AUDIT COMMITTEE IS RESPONSIBLE FOR PROPOSING CHANGES IN THE UNIVERSITY CONFLICT OF INTEREST POLICY TO THE FULL BOARD OF TRUSTEES, AND FOR MONITORING COMPLIANCE WITH THE POLICY APPROVED BY THE BOARD OF TRUSTEES. ALL MEMBERS OF THE BOARD OF TRUSTEES, BOARD COMMITTEE MEMBERS, OFFICERS, KEY EMPLOYEES, MEMBERS OF THE FINANCIAL AID OFFICE AND ALL PROFESSIONAL FINANCIAL ACCOUNTING STAFF ANNUALLY COMPLETE AND SUBMIT A QUESTIONNAIRE ON POSSIBLE CONFLICTS OF INTEREST AND INDEPENDENCE. EMPLOYEES OF THE UNIVERSITY OTHER THAN THE PRESIDENT SUBMIT CONFLICT OF INTEREST INFORMATION TO THE PRESIDENT. THE PRESIDENT DETERMINES IF AN ACTUAL CONFLICT OF INTEREST EXISTS AND DETERMINES THE APPROPRIATE MITIGATING ACTION. THE PRESIDENT REPORTS TO THE AUDIT COMMITTEE, ON AN ANNUAL BASIS, ALL IDENTIFIED POSSIBLE CONFLICTS OF INTEREST AND MITIGATING ACTIONS TAKEN. THE PRESIDENT AND THE MEMBERS OF THE BOARD OF TRUSTEES SUBMIT CONFLICT OF INTEREST AND INDEPENDENCE QUESTIONNAIRES TO THE BOARD OF TRUSTEES AUDIT COMMITTEE. THE AUDIT COMMITTEE IS RESPONSIBLE FOR REVIEWING THE SITUATION AND RECOMMENDING TO THE BOARD CHAIRMAN APPROPRIATE MITIGATING ACTIONS. IF IT IS DETERMINED THAT A CONFLICT EXISTS THEN THE CHAIR OF THE BOARD OF TRUSTEES OR COMMITTEE SHALL, IF APPROPRIATE, APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE PROPOSED TRANSACTION OR ARRANGEMENT. AFTER EXERCISING DUE DILIGENCE, THE BOARD OF TRUSTEES OR COMMITTEE SHALL DETERMINE WHETHER THE UNIVERSITY CAN OBTAIN A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT WITH REASONABLE EFFORTS FROM A PERSON OR ENTITY THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF A MORE ADVANTAGEOUS TRANSACTION OR ARRANGEMENT IS NOT REASONABLY ATTAINABLE UNDER CIRCUMSTANCES THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST, THE BOARD OF TRUSTEES OR COMMITTEE SHALL DETERMINE BY A MAJORITY VOTE OF THE DISINTERESTED TRUSTEES WHETHER THE TRANSACTION OR ARRANGEMENT IS IN THE UNIVERSITY'S BEST INTEREST AND FOR ITS OWN BENEFIT AND WHETHER THE TRANSACTION IS FAIR AND REASONABLE TO THE UNIVERSITY AND SHALL MAKE ITS DECISION AS TO WHETHER TO ENTER INTO THE TRANSACTION OR ARRANGEMENT IN CONFORMITY WITH SUCH DETERMINATION. THE UNIVERSITY ALSO HAS A WHISTLE-BLOWER POLICY AND PROCESS UNDER THE OVERSIGHT AND AUTHORITY OF THE BOARD OF TRUSTEES AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES COMPENSATION COMMITTEE IS RESPONSIBLE FOR SETTING COMPENSATION FOR THE SENIOR STAFF OF THE UNIVERSITY. SENIOR STAFF INCLUDES THE PRESIDENT AND ALL VICE PRESIDENT-LEVEL STAFF. THE COMPENSATION COMMITTEE INCLUDES ONLY INDEPENDENT BOARD OF TRUSTEES MEMBERS AS VOTING MEMBERS. THE COMMITTEE COMPILES INDUSTRY-WIDE SALARY DATA AND OTHER EXTERNAL, OBJECTIVE DATA, TO DETERMINE THE APPROPRIATENESS OF COMPENSATION FOR EMPLOYEES UNDER ITS REVIEW. THE VICE PRESIDENT FOR FINANCE AND ADMINISTRATION IS RESPONSIBLE FOR COMPILING A COMPLETE LIST OF ALL COMPENSATION AND THE BUSINESS OFFICE PROVIDES THE PRESIDENT'S TAXABLE AND NON-TAXABLE FRINGE BENEFITS TO THE CHIEF OF STAFF, WHO PROVIDES THE INFORMATION TO THE COMMITTEE. THE COMPENSATION COMMITTEE REPORTS ON THE SALARY ADMINISTRATION PROCESS TO THE BOARD OF TRUSTEES ON AN ANNUAL BASIS FOR APPROVAL BY THE BOARD. FULL DISCLOSURE OF COMPENSATION IS REPORTED ON FORM 990 FOR FULL BOARD OF TRUSTEE REVIEW. ALL THE INFORMATION USED BY THE COMPENSATION COMMITTEE IS RETAINED IN THE HUMAN RESOURCE OFFICE. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY PUBLISHES ITS ARTICLES OF INCORPORATION AND/OR CERTIFICATE OF FORMATION, BYLAWS, CONFLICT OF INTEREST POLICY, INDEPENDENCE POLICY, THE MOST CURRENT THREE YEARS OF AUDITED FINANCIAL STATEMENTS, AND IRS FORMS 990 AND 990-T ON THE UNIVERSITY WEBSITE. THE INFORMATION MAY BE ACCESSED AT: HTTP://WWW.SOUTHWESTERN.EDU/BUSINESS-OFFICE/BUDGET-FINANCE/. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 315,088. POST-RETIREMENT RELATED CHANGES 267,658. SOUTHWESTERN FOUNDATION 1001 EAST UNIVERSITY AVENUE GEORGETOWN TX 78626 742736740 HOLD AND MANAGE REAL PROPERTY FOR UNIVERSITY TX 501(C)(3) LINE 12A, I SOUTHWESTERN UNIVERSITY 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 SOUTHWESTERN FOUNDATION O 1216471 GROSS WAGES