2011-05-05T17:41:59-07:00 2010-06-30 990 2009-07-01 741233796 SOUTHWESTERN UNIVERSITY SOUT 5128631956 PO Box 770 Georgetown TX 786270770 Richard Anderson 5128631444 2011-05-06 2009 2016-02-24 21:20:13Z Jake B Schrum 1001 E University Avenue Georgetown TX 78626 169826855 0 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. 48 46 1391 745 391813 -150642 11008175 9090775 43634333 47532577 100410457 4618283 1560140 1413257 156613105 62654892 13421102 16543497 0 0 35577875 35275760 0 0 1436923 19386535 25111840 68385512 76931097 88227593 -14276205 348649971 358595433 62259500 69069256 286390471 289526177 Fostering a liberal arts educational community whose values and actions encourage contributions toward the well-being of humanity. 0 0 26344609 0 28567608 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 emphasized 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 1,256 full-time equivalent students in its academic instructional programs. Most of the University's enrollment is traditional college-age students, with 98.39% enrolled full-time (12 or more credit hours for the semester). The student-teacher ratio was approximately 10.8:1 in the current year. 16335028 15998543 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 90% of university students receive institutional financial assistance. Approximately 56% 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 impermissible factor, in the management of its institutional financial assistance program. 9258372 0 10054473 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 security, 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. 7710478 0 8910496 Other Program Services include auxiliary enterprises, including student residential center operations and food service operations. Approximately 85% 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. Total auxiliary enterprise income and expenses are $8,910,496 and $8,292,462 respectively. Auxiliary enterprise expenses include depreciation, interest and physical plant expense allocations of $1,708,072, $196,984 and $1,983,917, respectively. 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. 7710478 0 8910496 59648487 1 1 0 0 0 0 1 0 1 1 1 0 1 1 1 0 1 0 1 0 0 0 1 1 1 0 0 0 0 0 1 1 0 1 0 1 0 0 0 0 1 1 0 0 1 2191 0 1 1391 1 1 1 1 UK 0 0 1 1 1 1 0 0 0 48 46 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X X X Brenda Thompson 5128631956 1001 East University Avenue Georgetown TX 78626 Martin Aleman Jr 1.4 X 0 0 0 L James Bankston 1.4 X 0 0 0 Lisa Barrentine 1.4 X 0 0 0 Douglas M Benold 1.4 X 0 0 0 W Earl Bledsoe 1.4 X 0 0 0 Ann T Cochran 1.4 X 0 0 0 Bobby Smith Cohn 1.4 X 0 0 0 W Mark Craig 1.4 X 0 0 0 John S Curry 1.4 X 0 0 0 James E Dorff 1.4 X 0 0 0 Robert W Dupuy 1.4 X 0 0 0 Thomas A Forbes 1.4 X 0 0 0 James W Foster 1.4 X 2000 0 0 Jack Garey 1.6 X 0 0 0 Roberto L Gomez 1.4 X 0 0 0 Robert H Graham 1.6 X 0 0 0 Kay Granger 1.4 X 0 0 0 Larry J Haynes 1.4 X X 0 0 0 Ronald D Henderson 1.4 X 0 0 0 C Preston Hollis 1.4 X 0 0 0 Janice Riggle Huie 1.4 X 0 0 0 Robert W Karr 1.4 X 0 0 0 Bart C Koontz 1.4 X 0 0 0 R Griffin Lord 1.4 X X 0 0 0 J Michael Lowry 1.4 X 0 0 0 Helen E Black McAllister 1.4 X X 0 0 0 Red McCombs 1.4 X 0 0 0 Michael McKee 1.4 X 0 0 0 J Eric McKinney 1.4 X 9342 0 3320 David J McNitzky 1.4 X 0 0 0 Laura A Merrill 1.4 X 0 0 0 Charles R Millikan 1.4 X 0 0 0 Merriman Morton 1.9 X X 0 0 0 Barbara Prats Neely 1.4 X 0 0 0 Ernesto Nieto 1.4 X 0 0 0 Steven A Raben 1.4 X 0 0 0 Robert T Rork 1.6 X 0 0 0 Robert C Scott 1.4 X 0 0 0 Pete Sessions 1.4 X 0 0 0 Namiqa Shipman 1.4 X 0 0 0 Blake Stanford 1.4 X 0 0 0 Stephen G Tipps 1.4 X 0 0 0 Donald W Underwood 1.4 X 0 0 0 James W Walzel 1.6 X 0 0 0 D Max Whitfield 1.4 X 0 0 0 Doak M Worley IV 1.4 X 0 0 0 Robert D Wunsch 1.4 X 0 0 0 Jack B Schrum 40 X X 390306 0 187187 Richard L Anderson 40 X 231152 0 34612 C Richard McKelvey 40 X 231739 0 33877 James W Hunt 40 X 225385 0 50844 Gerald D Brody 40 X 150338 0 41245 W Joseph King 40 X 163557 0 22150 Thomas J Oliver 40 X 140916 0 25594 Paul J Gaffney 40 X 143422 0 21305 J Michael Leese 40 X 136800 0 23504 Andrew J Senchack 40 X 135151 0 26327 1960108 0 469965 21 0 1 0 Skyline Commercial Inc 4801 Spicewood Springs Road Austin TX 78759 Construction 6661537 Sodexo Inc 8901 Washingtonian Blvd Gaithersburg MD 20878 Food Service 1801497 EIIA 200 S Wacker Dr 1000 Chicago IL 60606 Insurance 799788 Great Lakes Colleges Assoc Inc 535 W William Ste 301 Ann Arbor MI 48103 NITLE Contract 539303 Group Two Architecture Inc 101 W 6th St Suite 615 Austin TX 78701 Architects 534872 20 0 42234 30840 0 1140786 7876915 1841388 9090775 Tuition and Fees 611310 38622081 38622081 0 0 Auxiliary Enterprises 713910 8910496 8820620 89876 0 0 0 0 0 47532577 6246510 0 3579 6242931 0 0 0 0 0 0 0 0 8940 0 47489 0 -38549 0 -38549 0 0 -38549 105481743 0 107109970 0 -1628227 0 -1628227 0 0 -1628227 15784 30840 14504 1280 1280 0 0 0 0 0 0 0 0 0 0 0 0 0 0 NITLE 611710 716074 716074 0 0 Summer Theatre Camp 611310 101645 101645 0 0 Recovery PY Utility Main Overcharge by City of Gtown 221000 96870 96870 0 0 535937 237579 298358 0 1450526 62654892 48596149 391813 4576155 0 0 16286029 16286029 257468 257468 0 0 1396578 240990 998504 157084 0 0 0 0 25174083 20530095 3892982 751006 2181099 1719065 391688 70346 4378507 2920198 1381610 76699 2145493 1587232 493820 64441 0 0 0 0 91863 0 91863 0 174356 0 174356 0 0 0 0 0 0 0 2069734 0 2069734 0 3090374 2086470 993904 10000 41402 39712 1690 0 1396048 1057003 261315 77730 388513 36246 333659 18608 0 0 0 0 1628595 1536052 87940 4603 1423473 1190605 175065 57803 0 0 0 0 222277 41477 171582 9218 526337 458055 63703 4579 0 0 0 0 4564937 3971865 553366 39706 371715 304054 66044 1617 Post Retirement Benefits 1863523 0 1863523 0 Utilities - Electric 1059945 0 1059945 0 Tax Allocation for Operations & Maintenance 1430561 1430561 0 0 Library 601221 601221 0 0 Equipment Rental & Maintenance 411928 411928 0 0 3755038 2942161 719394 93483 76931097 59648487 15845687 1436923 41001004 36614474 0 13000000 8769171 6906622 4411447 4936821 0 0 0 0 686965 583013 0 0 1375123 1380627 181948671 83290906 93576840 98657765 188012015 190990571 3742213 4070887 0 0 0 7075193 1454653 348649971 358595433 5630736 5685609 3277220 3258416 1316994 1328239 29573973 28395217 0 0 0 0 0 0 0 0 22460577 30401775 62259500 69069256 X 78992140 75450854 140275176 143148980 67123155 70926343 286390471 289526177 348649971 358595433 X 0 1 1 X 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 3801950 0 0 X X X 0 226857411 2452201 25619694 14087256 -941447 0 241783497 280638212 759845 -41956258 2702276 9882112 0 226857411 0.1726 0.2856 0.5418 1 0 6419666 111509 6531175 0 129129561 44592091 84537470 0 0 0 0 0 32445524 26261066 6184458 0 13842411 12437749 1404662 98657765 0 0 Beneficial Inerests in Fund Held by Others 3897553 F Other 173334 C 4070887 Construction in Progress 1454653 1454653 0 Post Retirement Benefits Payable 30319375 Deferred Compensation 82400 30401775 62654892 76931097 -14276205 22853070 0 0 0 -3541007 19312063 5035858 67803514 22853070 0 0 339415 23192485 44611029 2045320 15998543 18043863 62654892 62767656 0 0 0 3880422 3880422 58887234 2045320 15998543 18043863 76931097 SchD_P03_S00_L04 Schedule D, Part III, Line 4 Southwestern University has 19 collections within the Special Collections of the A Frank Smith 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. SchD_P05_S00_L04 Schedule D, Part V, Line 4 Southwestern University endowments include $200,060,616 (83%) of donor restricted endowment funds and $41,722,881 (17%) of 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. SchD_P10_S00_L00 Schedule D, Part X Tax positions taken related to the University's tax exempt status, unrelated business activities taxable income and the deductibility of expenses and other miscellaneous tax positions have been reviewed, and management is of the opinion that material positions taken by the University would more likely than not be sustained by examination. Accordingly, the University has not recorded an income tax liability for uncertain tax benefits. SchD_P11_S00_L08 Schedule D, Part XI, Line 8 $277,422 Change in Split Interest Agreement + $2,203,753 is gain due to change in nature of promises receivable + ($6,084,175) is loss due to post-retirement related changes other than net periodic pension costs + $14,504 Special Events Expenses + $47,489 Rental Activity Expenses = ($3,541,007) is the net of these three numbers above. SchD_P12_S00_L02d Schedule D, Part XII, Line 2d $47,489 Rental Activity Expenses + $14,504 Special Events Expenses + $277,422 Split Interest Agreement = $339,415. SchD_P12_S00_L04b Schedule D, Part XII, Line 4b $15,998,543 is amount spent on scholarships and grants that is netted against tuition and fees on the financial statements. SchD_P13_S00_L02d Schedule D, Part XIII, Line 2d ($6,084,175) is post-retirement related changes other than net periodic pension costs + $2,203,753 is gain due to change in nature of promises receivable = ($3,880,422). SchD_P13_S00_L04b Schedule D, Part XIII, Line 4b $15,998,543 is amount spent on scholarships and grants that is netted against tuition and fees on the financial statements. 1 1 1 An annual notice is published in the following newspapers: Williamson County Sun, Austin American Statesman, Houston Chronicle, and the Dallas Morning News. Policies are included in all student, faculty and staff handbooks. 1 1 1 1 0 0 0 0 0 0 0 0 1 0 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 Family Education 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. 1 1 Europe (including Iceland and Greenland) 0 0 Grantmaking 62336 South Asia 0 0 Grantmaking 5700 East Asia and the Pacific 0 0 Grantmaking 14566 South America 0 0 Grantmaking 6000 Central America and the Caribbean 0 0 Grantmaking 8615 North America (including Canada and Mexico, but not the United States) 0 0 Grantmaking 12455 Sub-Saharan Africa 0 0 Grantmaking 2685 Europe (including Iceland and Greenland) 0 4 Program Services Study Abroad Program 116463 Central America and the Caribbean 0 1 Program Services Study Abroad Program 20382 North America (including Canada and Mexico, but not the United States) 0 1 Program Services Study Abroad Program 8266 0 6 257468 Scholarships Europe (including Iceland and Greenland) 39 54250 Check Scholarships South Asia 1 3000 Check Scholarships East Asia and the Pacific 5 7000 Check Scholarships South America 6 6000 Check Scholarships Central America and the Caribbean 10 8615 Check Scholarships North America (including Canada and Mexico, but not the United States) 13 11200 Check Scholarships Sub-Saharan Africa 3 2685 Check Housing Europe (including Iceland and Greenland) 3 20826 Wire Federal Faculty Research Grant East Asia and the Pacific 1 3644 Check Faculty Development/Research Europe (including Iceland and Greenland) 5 8086 Check Faculty Development/Research East Asia and the Pacific 2 3922 Check Faculty Development/Research North America (including Canada and Mexico, but not the United States) 1 1255 Check Faculty Development/Research South Asia 1 2700 Check SchF_P01_S00_L02 Schedule F, Part I, Line 2 All students at Southwestern University are required to apply for the study abroad program at 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 need. Scholarships are awarded to the students with the highest need based on funds available. 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. Payments for certain scholarships are made directly to the institutions sponsoring the study abroad program. Payments related to the Paideia program are made to the students on a reimbursement basis. Students are required to complete a request for reimbursement that includes the approval/signature from an assigned faculty mentor and attached proof of prior payment of study abroad expenses. The forms are then reviewed by the Assistant Dean of Faculty Development and Sponsored Projects and the Assistant Controller before processed for payment. 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 some of the different study abroad programs, scholarships expenses and all foreign travel. Pirate Golf 29650 19616 10034 0 689 5225 2734 0 0 Jameson 5K 10888 7495 3393 0 319 0 0 0 2649 1 6086 3729 2357 0 0 0 0 0 2888 46624 30840 15784 0 1008 5225 2734 0 5537 14504 1280 1 Pre Med Scholarship 14 43000 0 Music, Art, Theatre Scholarship 106 389770 0 National Merit Scholarship 13 22580 0 Star Loan Interest Subsidy 435 279687 0 Beneficiary Scholarship 14 6600 0 Brown Scholars 14 545380 0 Supplemental Education Opportunity Grants 168 132880 0 Academic Competitiveness Grant 132 90787 0 Smart Grant 11 24000 0 BEI Scholarship 1 30220 0 James S Kemper Foundation Scholarship 4 19000 0 United Methodist Higher Education Foundation-Dollars for Scholars 4 8000 0 Hatton W Sumners Foundation 8 80000 0 Kappa Sigma Scholarship 1 7250 0 SU Scholarship 19 107691 0 SU Scholarship (Need-based) 485 3965914 0 Upward Bound Scholarship 6 148401 0 TUMCA Scholarship 2 23797 0 Cain Scholarship 8 31643 0 Feagin Scholarship 1 16900 0 Martin Esteban Aleman Scholarship 1 6000 0 Rockwell Scholarship 30 123162 0 Tuition Waiver 2 49605 0 National Hispanic Scholar Recognition Award 8 15000 0 Ruter Scholar Award 145 802720 0 Mood Scholar Award 498 5232247 0 Cody Scholar Award 183 2883411 0 President's Achievement Scholarship 43 183000 0 National Hispanic Institute 12 22000 0 National Merit Commended 30 28500 0 AP/IB Recognition Award 268 408100 0 John N Score Scholarship 1 36400 0 SU Excellence Scholarship 8 15750 0 Wilson Scholarship 1 30220 0 Brackenridge Scholarship 10 13000 0 SU Grant (Need-based) 1 15110 0 Other Scholarships < $5,000 39 52418 0 SchI_P01_S00_L02 Schedule I, Part I, Line 2 Institutional Financial Aid. The University made need-based and merit-based grants and scholarships to 1,193 students in fiscal 2010, which represents approximately 95% of the student body, and totaling $15,998,543. Additionally, the University awards financial aid through 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 the non-discrimination policy relating to awarding of financial aid as approved by the Board of Trustees, as well as to ensure compliance with federal and state regulations on financial aid, and 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. 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 X 1 1 X X X 0 0 0 0 0 0 0 0 0 Jack B Schrum 344824 0 0 0 45482 0 24500 0 172752 0 587558 0 0 0 Richard L Anderson 217656 0 0 0 13496 0 22036 0 12981 0 266169 0 0 0 James W Hunt 215052 0 0 0 10333 0 21594 0 29781 0 276760 0 0 0 C Richard McKelvey 220338 0 0 0 11401 0 22052 0 12356 0 266147 0 0 0 Gerald D Brody 148591 0 0 0 1747 0 16400 0 25376 0 192114 0 0 0 W Joseph King 162597 0 0 0 960 0 14583 0 7702 0 185842 0 0 0 Thomas J Oliver 139476 0 0 0 1440 0 14494 0 11505 0 166915 0 0 0 Paul J Gaffney 142194 0 0 0 1228 0 14351 0 7485 0 165258 0 0 0 J Michael Leese 133686 0 0 0 3115 0 13777 0 10257 0 160835 0 0 0 Andrew J Senchack 132238 0 0 0 2913 0 13902 0 12956 0 162009 0 0 0 SchJ_P01_S00_L01a Schedule J, Part I, Line 1a TRAVEL FOR COMPANIONS - On occasion the President's wife attends business meeting in conjunction with the President in representing the University. All University-funded travel-related expenses for the President's wife are treated as taxable compensation and reported on IRS Form W-2. RESIDENCE & 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 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 Part II, includes the estimated fair market rental value, utilities, housekeeping and grounds keeping services. HEALTH OR SOCIAL CLUB DUES - The University provides country club memberships and other social club memberships for certain key employees of the University. These memberships are used primarily for hosting guests during fund-raising meetings and other business-related meetings. The University includes the cost of these memberships as taxable compensation on the employee's IRS Form W-2. TAX GROSS-UP PAYMENTS - The University reimburses certain officers and key employees for income tax obligations related to university-reimburses travel for companions, social and club dues, personal use of University automobile and University-funded home internet service. SchJ_P01_S00_L03 Schedule J, Part I, Line 3 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. Crawford Education Facilities Corporation 721536594 225098BF8 2004-07-13 31302757 Refund bonds issued 10/31/84 & 5/11/94 & Construction 0 0 Riesel Education Facilities Corporation 205312407 000000000 2006-08-11 5000000 Construct On-Campus Apartments 0 0 31409118 0 0 0 384938 0 2502644 2008 1 0 1 1 5134449 0 0 0 53150 0 5081299 2008 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 James M Leese Computer Loan X 2000 300 0 0 1 300 2 People Tuition Exchange 49700 2 People Tuition Remission 15168 2 People Merit Scholarships 13608 Lisa Anderson Spouse of Officer 36659 Employment 0 X 27 Other X 19 1841343 AVG HI/LOW MV X Equipment/Instrument 2 2 Other X Misc 16 16 Other 0 0 1 1 SchM_P01_S00_L32b Schedule M, 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 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. F990_P06_S0B_L11 Form 990, Part VI, Section B, Line 11 Per the Board approved resolution, the Audit Committee prepares an annual time line for the preparation, review & filing of Form 990. The University's Administration prepares the University's Form 990. The Administration and other staff complete sub-certification statements addressing their individual areas of responsibilities. The University's external counsel reviews the Form 990. The completed and reviewed return, along with sub-certification statements, is reviewed by the chief financial officer (Vice President for Fiscal Affairs). The Vice President for Fiscal Affairs 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. 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 Trustee 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. F990_P06_S0B_L12c 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 on an annual basis, to the Audit Committee, 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. The University has a whistle-blower policy and process under the oversight and authority of the Board of Trustees Audit Committee. F990_P06_S0B_L15 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. 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. F990_P06_S0C_L19 Form 990, Part VI, Section C, Line 19 The University publishes its Articles of Incorporation, Bylaws, Conflict of Interest Policy, Independence Policy, and the most current three years of audited financial statements, and IRS Form 990 and 990-T on the University website. The information may be accessed at http://www.southwestern.edu/businessoffice/budget.php. SchE_P00_S00_L06 Schedule E, 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 Family Education 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. SchK_P02_S00_L03 Schedule K, Part II, Line 3 For the Crawford Education Facilities Corporation bond issue, the proceeds in refunding is zero at the end of this reporting period. However, in 2004, $28,521,536 of the bond proceeds were used to refund the Series 1984 & Series 1994 Bonds. SchR_P05_S00_L02 Schedule R, Part V, Line 2 Amount of $759,694, for 1n -sharing of paid employees, represents total gross wages for fiscal year 2010 for the three employees of Southwestern University that are shared with Southwestern Foundation. Benefits were not included, since Southwestern Foundation does not have any employee benefits. Southwestern Foundation 1001 East University Avenue Georgetown TX 78626 742736740 Maintain property for SU benefit & support TX 501(c)(3) Type I - Line 11a Southwestern University 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 Southwestern Foundation n 759694