2017-05-11T14:08:25-05:00 2016-06-30 GRANT THORNTON LLP 8300 THORN DRIVE SUITE 300 WICHITA KS 672262708 990 2015-07-01 741233796 Southwestern University % BRENDA THOMPSON SOUT 5128631956 PO Box 770 Georgetown TX 786270770 CRAIG ERWIN VP for FIN & ADMIN 2017-05-12 true Shannon A Rudisell P01435967 3162653231 2017-05-12 2015 2021-01-29 14:40:06Z Dr Edward Burger 1001 E University Ave Georgetown TX 78626 179887023 false X www.southwestern.edu X 1875 TX Fostering a liberal arts educational community whose values and actions encourage contributions toward the well-being of humanity 34 33 1418 1003 306765 0 11019832 8047018 65128768 66412954 11719268 8083683 1639597 1276169 89507465 83819824 29501139 30438055 0 0 32528413 32796084 0 0 1415007 21286156 18931074 83315708 82165213 6191757 1654611 390628492 380837887 34275889 32739897 356352603 348097990 X FOSTERING A LIBERAL ARTS EDUCATIONAL COMMUNITY WHOSE VALUES AND ACTIONS ENCOURAGE CONTRIBUTIONS TOWARD THE WELL-BEING OF HUMANITY false false 22495597 0 38243648 Instructional Services: 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 enrolled 1,463 full-time equivalent students in its academic instructional programs. Most of the University's enrollment is traditional college-age students, and for the Fall 2015 semester 98.9% were enrolled full-time (12 or more credit hours for the semester). The student-teacher ratio was approximately 11.7:1 in the current year. 30438055 30438055 0 Financial Assistance: The University seeks to support its primary program services through financial assistance to students. Institutional financial assistance includes both need-based assistance and merit-based assistance. The primary funding sources for institutional financial assistance are restricted and unrestricted endowments and gifts, and general operating budget support. Approximately 98% of university students receive institutional financial assistance. Approximately 61% of university students receive need-based financial assistance. The University does not discriminate on the basis of sex, race, color, religion, age, disability, national or ethnic origin, or any other impermissable factor, in the management of its institutional financial assistance program. 10105748 0 17339868 Student Services: The University seeks to support its primary academic mission through robust student services for its primarily residential liberal arts campus. Student services includes the Police department, Academic Success & Records department, student activities, residential life administration, career counseling and 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. 7150049 10829437 Auxiliary Enterprises 7150049 10829437 70189449 true true false false false false false true false true true false false false true true false true true true true false true false true false false false true true true false false false false false false true false false false true false false false false true true true false false true 2494 0 true 1418 true true true false false false true true true true false false false false X 34 33 false false false false false false false true true false false true true true true true true true true false X X BRENDA THOMPSON 5128631956 1001 E UNIVERSITY AVE Georgetown TX 78626 X Robert W Karr Trustee & Chair 3.4 0.0 X X 0 0 0 Henry C Joyner Trustee & Vice Chair 3.4 0.0 X X 0 0 0 R Griffin Lord Trustee & Sec/Treas 3.2 0.0 X X 0 0 0 Daryl M Allen Trustee 1.7 0.0 X 0 0 0 Richard H Bachmann Trustee 3.2 0.0 X 0 0 0 L James Bankston Trustee 1.4 0.0 X 0 0 0 Suzanne Blake Trustee 1.4 0.0 X 0 0 0 W Earl Bledsoe Trustee 1.4 0.0 X 0 0 0 Tim Bruster Trustee 1.4 0.0 X 0 0 0 Pam Slaughter Bush Trustee 1.4 0.0 X 0 0 0 Christopher Cragg Trustee 1.4 0.0 X 0 0 0 John S Curry Trustee 1.4 0.0 X 0 0 0 James E Dorff Trustee 1.4 0.0 X 0 0 0 Robert W Dupuy Trustee 1.4 0.0 X 0 0 0 Jack Garey Trustee 1.4 0.0 X 0 0 0 Roberto L Gomez Trustee 1.4 0.0 X 0 0 0 Robert H Graham Trustee 1.7 0.0 X 0 0 0 Larry J Haynes Trustee 1.7 0.0 X 0 0 0 Ronald D Henderson Trustee 1.4 0.0 X 0 0 0 Janice Riggle Huie Trustee 1.4 0.0 X 0 0 0 Brian Jackson Trustee 1.4 0.0 X 0 0 0 Jean Janssen Trustee 1.4 0.0 X 0 0 0 Sylvia Kerrigan Trustee 1.4 0.0 X 0 0 0 J Michael Lowry Trustee 1.4 0.0 X 0 0 0 Red McCombs Trustee 1.4 0.0 X 0 0 0 Michael McKee Trustee 1.4 0.0 X 0 0 0 Mary Medley Trustee 1.4 0.0 X 0 0 0 Laura A Merrill Trustee 1.4 0.0 X 0 0 0 Lynn Mock Trustee 1.4 0.0 X 0 0 0 Ernesto Nieto Trustee 1.4 0.0 X 0 0 0 Steven A Raben Trustee 1.4 0.0 X 0 0 0 Robert T Rork Trustee 1.4 0.0 X 0 0 0 Pete Sessions Trustee 1.4 0.0 X 0 0 0 Carson Severson Trustee 1.4 0.0 X 0 0 0 Thomas V Shockley III Trustee 1.5 0.0 X 0 0 0 Kenneth Snodgrass Trustee 1.7 0.0 X 0 0 0 H Blake Stanford Trustee 1.4 0.0 X 0 0 0 Dan R Stultz Trustee 1.4 0.0 X 0 0 0 Stephen G Tipps Trustee 1.4 0.0 X 0 0 0 Donald W Underwood Trustee 1.4 0.0 X 0 0 0 James V Walzel Trustee 1.7 0.0 X 0 0 0 Kathryn Yeager Trustee 1.4 0.0 X 0 0 0 Edward Burger Trustee & President 40.0 0.0 X X 138523 0 418273 Craig Erwin VP for Finance & Admin 40.0 0.0 X 179352 0 23104 James W Hunt Provost/Dean of Faculty 40.0 0.0 X 431306 0 8649 Pamela A McQuesten VP of Info Services & CIO 40.0 0.0 X 209150 0 32850 Richard Roemer Professor of Theatre 40.0 0.0 X 183149 0 7516 Alisa McAlister Gaunder Dean of the Faculty 40.0 0.0 X 149999 0 25206 Gerald Brody VP of Student Life 40.0 0.0 X 149740 0 30967 Paul J Gaffney Dean Sarofim School Fine Arts 40.0 0.0 X 140273 0 24756 1581492 0 571321 25 false true false Bartlett Cocke General Contractors 7901 E Riverside Dr Bldg 2 Ste 1 AUSTIN TX 78744 Construction 4090918 Sodexo Services Texas LLP 1001 E UNIVERSITY AVENUE GEORGETOWN TX 78626 Food ServiceS 2691213 Apogee Telecom 715 W 23 Suite M AUSTIN TX 78705 Telecom 378818 IES 33 W Monroe StREET SUITE 2300 CHICAGO IL 60603 Study Abroad PROGRAM 343086 Group Two Architecture Inc 1801 S MoPac Expy SUITE 350 AUSTIN TX 78746 ARCH & DESIGN SVCS 321519 10 35503 583499 7428016 400488 8047018 TUITION & FEES 611310 55583517 55583517 AUXILIARY ENTERPRISES 713910 10829437 10350497 478940 66412954 7476680 -233815 7710495 0 0 14028 17686 -3658 0 -3658 -3658 96632738 9196 95950762 84169 681976 -74973 607003 607003 6520 35503 14582 -8062 -8062 0 0 MCCOMBS KITCHEN EQUIPMENT 812930 250000 250000 CAR REGISTRATION FEES 811310 235700 235700 SUMMER THEATRE 611310 138440 138440 663749 551223 61640 50886 1287889 83819824 67109377 306765 8356664 0 0 30297202 30297202 140853 140853 0 640404 167660 391063 81681 0 25253311 20499330 3897850 856131 1503290 1195962 247949 59379 3502912 2190947 1216214 95751 1896167 1446564 389046 60557 0 157382 157382 149438 149438 0 0 3948253 3948253 2616896 2471212 144812 872 45800 6045 39755 1065205 641232 389793 34180 1075616 183560 889148 2908 3909 3909 2578423 2341951 222128 14344 1221937 1077816 92318 51803 0 13440 13440 326922 283735 40370 2817 0 3090087 2681887 381580 26620 537134 320067 214831 2236 LIBRARY SUPPORT 721438 721438 MAINTENANCE & FACILITIES 548693 475712 68261 4720 ATHLETICS 486153 433527 52626 RESEARCH/SPONSORED PROJECTS EX 199569 199569 144779 2399740 -2375969 121008 82165213 70189449 10560757 1415007 980041 2251731 33280807 37851477 3048560 3170629 5046017 4941155 0 0 0 0 541534 479981 198373 230535 683210 773296 206861062 99581187 98898082 107279875 234772421 218205376 4931452 4624422 0 0 0 0 8247995 1029410 390628492 380837887 7258755 4935052 3317292 3348317 1625713 2179651 3905000 3735000 0 0 0 0 9836637 9682683 0 0 8332492 8859194 34275889 32739897 X 116375373 123652890 153432847 137196499 86544383 87248601 356352603 348097990 390628492 380837887 X 1654611 -5522292 -4386932 X false true X true true true X 13188700 14192031 5833781 5908932 8047018 47170462 0 0 13188700 14192031 5833781 5908932 8047018 47170462 17105848 30064614 6458148 7011468 9537736 7818960 7724523 38550835 0 6121 5724 20290 13004 57406 102545 85823842 312981662 0.35031 0.36962 X PUBLIC SUPPORT TEST SCHEDULE A, PART II PER THE INSTRUCTIONS FOR FORM 990, PART IV, LINE 2, Southwestern University HAS COMPLETED AND MET THE SCHEDULE A, PART II SUPPORT TEST REQUIREMENTS. AS A RESULT, Southwestern University QUALIFIES FOR THE SPECIAL RULE OF LIMITING CONTRIBUTIONS REPORTED ON SCHEDULE B, PARTS I & II. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3801950 X X X false 255955406 1056365 -2235333 14959036 -125488 239942890 265590566 6251460 -1257862 14703758 -75000 255955406 252949637 603835 32668376 15115640 5515642 265590566 250622946 2165441 18954236 11494038 7298948 252949637 268982899 745477 -6611292 12176057 318081 250622946 0.10560 0.36210 0.53230 true false 6455893 111509 6567402 150244620 58075382 92169238 427083 142695 284388 32310579 27681419 4629160 17311378 13681691 3629687 107279875 0 ACCRUED POST RETIREMENT BENEFITS 8361737 DEFERRED COMPENSATION 497457 8859194 X Schedule D, Part III, Line 4 Description of Organization's Collections Southwestern 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 maintained for historical purposes, public exhibition, and student educational research. Schedule D, Part V, Line 4 Intended Uses of Endowment Funds 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. Schedule D, Part X, Line 2 Liability for Uncertain Tax Positions (ASC 740) The University claims exemption from federal income tax under Section 501(c)(3) of the Internal Revenue Code. The University files unrelated business income tax and other information returns as required by government authorities. The University has concluded that it does not have any unrecognized tax benefits resulting from current or prior period tax positions. Accordingly, no additional disclosures have been made on the consolidated financial statements regarding uncertain tax provisions. true true true true true true true false false false false false false false false true false true Schedule E, Part I, Line 3 Publication of Racially Nondiscriminatory Policy An annual notice is published in the following newspapers: Williamson County Sun, Austin American Statesman, Houston Chronicle, and Dallas Morning News. Policies are included in all student, faculty, and staff handbooks. Schedule E, Part I, Line 6a Government Assistance 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 Perkins 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. true Central America and the Caribbean Grantmaking 2610 East Asia and the Pacific Grantmaking 13935 Europe (Including Iceland and Greenland) Grantmaking 54559 Middle East and North Africa Grantmaking 6000 South America Grantmaking 14500 Europe (Including Iceland and Greenland) 3 Program Services Study Abroad Programs 89439 South America 2 Program Services Study Abroad Programs 3765 Europe (Including Iceland and Greenland) Program Services Research 33002 North America Program Services Research 16093 Sub-Saharan Africa Program Services Research -767 East Asia and the Pacific Program Services Research 921 5 5 234057 234057 NEED BASED AWARDS East Asia and the Pacific 4 8935 check NEED BASED AWARDS Europe (Including Iceland and Greenland) 15 23059 check NEED BASED AWARDS Middle East and North Africa 1 6000 check NEED BASED AWARDS South America 3 7000 check NEED BASED AWARDS Central America and the Caribbean 2 1100 check MERIT BASED AWARDS Central America and the Caribbean 1 1510 check MERIT BASED AWARDS East Asia and the Pacific 2 5000 check MERIT BASED AWARDS Europe (Including Iceland and Greenland) 12 31500 CHECK MERIT BASED AWARDS South America 3 7500 CHECK FACULTY/STAFF DEVELOPMENT AND RESEARCH Europe (Including Iceland and Greenland) 14 33002 CHECK OR CC FACULTY/STAFF DEVELOPMENT AND RESEARCH North America 11 16093 CHECK OR CC FACULTY/STAFF DEVELOPMENT AND RESEARCH Sub-Saharan Africa 1 -767 CHECK OR CC FACULTY/STAFF PRIVATE GRANTS East Asia and the Pacific 1 921 check true false true true true false Schedule F, Part I, Line 2 Procedure for Monitoring Use of Grant Funds Outside U.S. Students at Southwestern University are encouraged to apply for the study abroad programs through The Office of Intercultural Learning. Students then meet with the Director of Intercultural Learning 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 Intercultural learning 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 the purview 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. Payments for faculty members' room and board related to study abroad programs were made by the Controller via wire transfer directly to the owner of the rental property. Southwestern University's method of accounting for these expenditures includes using different account numbers to track the different study abroad programs, scholarships expenses, and all foreign travel. Jameson 5k 20292 19345 947 259 3746 Pirate Golf 16397 12045 4352 713 4600 2525 409 1 5334 4113 1221 2149 181 42023 35503 6520 972 6749 2525 4336 14582 -8062 true MERIT BASED AWARDS 2056 26143123 NEED BASED AWARDS 1251 3877984 OUTSIDE SCHOLARSHIPS 16 113272 FACULTY/STAFF SCHOLARSHIP 16 262920 PELL GRANT 419 1842714 SEOG 176 164113 TUITION EXCHANGE 11 205835 Schedule I, Part I, Line 2 Procedure for Monitoring Use of Grant Funds Inside U.S. The University made need-based and merit-based grants and scholarships to 1507 students in fiscal 2015, totaling $30,021,107. Additionally, the University awards various federal, state, and private scholarship, loan, 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 (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, 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 Dean 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 true true X X X true true false false false false false false false Edward Burger Trustee & President 116214 0 0 0 22309 0 278244 0 140029 0 556796 0 0 0 Craig Erwin VP for Finance & Admin 179352 0 0 0 0 0 12747 0 10357 0 202456 0 0 0 James W Hunt Provost/Dean of Faculty 73056 0 0 0 358250 0 5145 0 3504 0 439955 0 0 0 Pamela A McQuesten VP of Info Services & CIO 209150 0 0 0 0 0 14921 0 17929 0 242000 0 0 0 Richard Roemer Professor of Theatre 64049 0 119100 0 0 0 4508 0 3008 0 190665 0 0 0 Alisa McAlister Gaunder Dean of the Faculty 149999 0 0 0 0 0 10848 0 14358 0 175205 0 0 0 Gerald Brody VP of Student Life 136189 0 0 0 13551 0 10631 0 20336 0 180707 0 0 0 Paul J Gaffney Dean Sarofim School Fine Arts 131608 0 50 0 8615 0 9859 0 14897 0 165029 0 0 0 Schedule J, Part I, Line 1a Housing Allowance or Residence for Personal Use The University requires the President to reside in the Turner Fleming House, located on campus, for the convenience of the University, as part of his 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. Tax Indemnification And Gross-Up Payments The University reimburses the president for income tax obligations related to university social and club dues. These gross-up payments are treated as taxable compensation and reported on IRS Form W-2. Health or Social Club Dues Or Initiation Fees The University provides a country club membership and other social club memberships for the President of the University. These memberships are used primarily for hosting guests during fundraising meetings and other business related meetings. University-provided memberships are treated as taxable compensation and reported on IRS Form W-2. Personal Services The University provides housekeeping and ground sevices for the President's home. The value of these services is included in the President's housing allowance on Schedule J, Part II, Column (d), nontaxable benefits. Schedule J, Part I, Line 4a Voluntary Separation Agreement Jim Hunt received an additional amount of $358,250 on his final payment in May 2015. Incentive payment for voluntary retirement (VIRP) Richard Roemer received an amount of $119,100 in 2015. Schedule J, Part I, Line 4b supplement nonqualified retirement plan President Burger participated in a 457(f) plan - For calendar year 2015 University Contributions were $32,259 and personal contributions were $220,194. A Riesel Education Facilities Corporation 205312407 2006-08-11 5000000 Construct on-campus housing false false false A 0 0 5000000 0 0 0 53150 0 0 4946850 0 0 2008 false false true true A false false false false 0 false false false false A false false true false false false 0 false 0 false true A true Students 12520 Tuition Remis EDUCATION Students 54000 Scholarships EDUCATION X 24397 $1 or value stated X 362054 High-Low Avg. X Food donations 6 1238 value stated X Equipment 2 2 $1 or value stated X Other 27 12797 $1 or value stated 2 false true true Sch M, Part I, Line 32b Third Party Assistance of Noncash Contributions 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 the controller at Southwestern University to inform her 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 endowment accounts for use in accordance with the donor's restriction, if any. Form 990, Part III, Line 4d Other Program Services Other program services include auxiliary enterprises, including student residential center operations and food service operations. Approximately 75% of the student body lives on campus in residential centers. Residential centers include living/learning centers which integrate classroom and other experiences into the residential environment. Food service is provided primarily for residential and non-residential student usage, faculty, staff, and guests of the university. Auxiliary enterprise expenses include depreciation, interest, and physical plant expense allocations. Other program services include various student, faculty, and staff campus services, such as the post office, information technology, help desk, network support, and other similar services, as well as various other essential program services in support of the primary academic mission of the university. Total auxiliary enterprise revenue and expenses are $10,829,437 and $7,150,049, respectively. Form 990, Part VI, Line 1a Delegation of Authority 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, Line 11b Form 990 Review Process Per the Board approved resolution, the Audit Committee prepares an annual timeline for the preparation, review, and filing of Form 990. An external tax auditing 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, along with sub-certification statements, is reviewed by the Chief Financial Officer (Vice President of Finance and Administration). The Vice President of 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 return a confirmation of their review. Any comments are submitted in writing to the Audit Committee. The return is then filed electronically with the IRS by the external tax auditing firm. 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, Line 12c Conflict of Interest Policy Monitoring & Enforcement 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, Lines 15a & 15b Process for Determining Compensation 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. Additionally, each year any employees listed in IRS Form 990 Part VII, officer, key employee, and highly paid employee, not already within the scope of the Compensation Committee, are added to the Committee's scope of oversight. The Compensation Committee includes only independent Board of Trustees members as voting members plus the Associate Vice President for Human Resources, as a non-voting ex officio member. The Committee compiles industry-wide salary surveys, benchmark institutional data from peer institutions, and other external, objective data, to determine the appropriateness of compensation for employees under its review. The Associate Vice President for Human Resources is responsible for compiling a complete list of all compensation, taxable and non-taxable fringe benefits, and any other relevant data for 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 by the Associate Vice President of Human Resources in the personnel office. Form 990, Part VI, Line 19 How Documents are Made Available to the Public 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/businessoffice/budget.php. Form 990, Part XI, Line 9 Other Changes in net assets Change in value of split-interest agreements $(329,328) Post-Retirement Related Changes $(4,057,604) ------------- Total $(4,386,932) Southwestern Foundation 1001 East University Avenue Georgetown TX 78626 742736740 Property TX 501(c)(3) 11-I SU true false false false false false false false false false false false false false true true false false true false Southwestern Foundation o 681374 Gross wages