Northwestern University Master

“Members of the organization are those present, separated, and retired employees of the university who are eligible to participate under the northwestern university health and welfare insurance plan to receive health and welfare benefits.”

“An accounting firm experienced in the tax-exempt area has been engaged to prepare the form 990. Once a draft is prepared, the northwestern university benefits division reviews the return and consults internally with other departments as necessary to ensure the accuracy of the return. The final form 990 is provided and reviewed by northern trust, the sole trustee, prior to filing.”

“The northwestern university employee benefit trust is related to northwestern university. Northwestern university is the plan sponsor of the veba and the entity for which the veba provides health and welfare benefits to the employees. Northwestern university employees help administer the veba. The northwestern university's standards for business conduct (referred to as the "standards") and the policy on conflict of interest and conflict commitment (referred to as the "coi policy") cover all employees of the university. The coi policy has been adopted by the university's board of trustees. Accordingly, the veba is subject to professional conduct policies detailed in the standards and coi policy (both are accessible on the university's public website). The university has policies regarding whistleblowers and document retention (both of which have been adopted by the university's board of trustees) that also apply to university activities. Every northwestern university employee has the responsibility to avoid conflicts of interest and to report anything that appears to be one to northwestern university management or a human resources representative. Pursuant to the coi policy, employees are required to disclose potential conflicts of interest to the university on an annual basis. Employees receive annual reminders to complete a conflict of interest questionnaire and responses are submitted electronically and reviewed by each employee's supervisor and may be further reviewed by university human resources. Violation of the coi policy may result in disciplinary action including termination.”

“The university's standards for business conduct and the policy on conflict of interest and conflict commitment are available on the university's public website. The university's financial statements are available on the department of labor's website.”

“The university has created this 501(c)(9) tax-exempt trust of a voluntary employees beneficiary association (veba). The fundamental purpose of the association is to provide health and welfare insurance benefits to those present, separated and retired employees of the university who are eligible to participate in the plan and to the eligible dependents of such employees.”

“Independent audited financial statements for the tax year are expected to be issued in 2021. The financial statements are expected to be reviewed and audited by an independent accountant and are accessible on the dol website.”