Mcmaster University Ontario

“The Nominating Committee of the Board shall consider and recommend to the Board persons to be elected under Section 8 (1) (b) of the 1976 Act, the membership and Chairs of Board Committees (and Vice-Chair if appropriate), Board members to serve on University / Hospital Liaison Committees, Honorary Governors, and the Chair, Vice-Chair(s), and Secretary of the Board, and such other offices as may be referred to the Committee by the Board.”

“Form 990 is provided to the controller of financial affairs for review prior to filing. The controller of financial affairs will review the return for accuracy and completeness.”

“The university has a remuneration committee whose primary function is to recommend to the board policies regarding salaries, wages, benefits and other forms of remuneration and to provide advice, as necessary, to the university administration administering such policies.”

“The organization's governing documents, conflict of interest policies, and financial statements are made available via the university's website or upon request from public.”

“No reportable compensation from related organizations. Certain officers are also officers/directors of related organizations by virtue of their respective positions at mcmaster university. The number of hours devoted to related organizations' affairs are undetermined as responsibilities are performed on a need basis.”

“Total Related Unrelated Excluded Description Revenue Exempt Rev Business Rev Revenue Investment $53,765,382 $53,765,382 Income”

“Other program services include: Internal endowments: unrestricted contributions including unspent investment income which have been restricted by action of the Board. External endowments: external contributions, the principal of which is non-expendable pursuant to the restrictions by the donor, and income retained under the endowment capital protection policy. Externally restricted investment income to the extent it is allocated is included with deferred contributions and recognized as revenue when the related expenses are incurred. Unrestricted investment income is recognized as revenue during the period in which it is earned. Investment income from internal endowments is recorded as unrestricted revenue and transferred to internal endowments.”

“In the prior year, expenditures in capital assets were overstated by $8,281,962. Correction of this error resulted in a decrease in net capital assets of $8,177,953, an increase in supplies and services of $8,281,962 and a decrease in amortization of capital assets of $104,009. In addition, for the year ended April 30, 2018, a project initially classified as internally funded was externally funded. This resulted in a decrease in donations and other grants of $5,526,875 due to the reallocation funding sources between internally funded and externally funded, an increase in deferred capital contributions of $5,595,202, and a decrease in amortization of deferred capital contributions of $68,327. Correction of these errors resulted in an overall decrease in excess of revenues over expenses of $13,773,155 and a decrease in equity in capital assets of $13,773,155 as at April 30, 2018. xxx Capital Assets Overstatement $ 8,281,962 xxx decrease in capital assets $ 8,177,953 xxx amortization of capital assets $ 104,009 xxx donations and other grants decrease $ 5,526,875 xxx deferred capital contributions $ 5,595,202 xxx deferred capital contribtion amortization $ 68,327 xxx excess of revenues over expenses $13,773,155 xxx equity in capital assets $13,773,155”

“Foreign currency translation: $(41,359,211) EXTERNAL ENDOWMENT CONTRIBUTIONS: CONTRIBUTIONS: $ 7,757,364 PROTECTIONS OF CAPITAL: $ 5,516,247 REMEASUREMENT & OTHER ITEMS: $(109,722,138) NET ASSET CHANGES: $(137,807,738)”