Unc Management Company Inc.

“Determination of number of independent board members unc management company has 8 board members, 2 of which are compensated as employees of the university of north carolina at chapel hill, a related organization, and one is compensated as an employee of unc management company”

“Business relationship kevin guskiewicz, board member, and jonathan pruitt, board member, have a business relationship. Max chapman, board member, and john townsend, board member, have a business relationship.”

“Process used to review form 990 during february of 2020, management distributed a draft of the form 990 for tax year 2018 to the board of directors. Management requested the board members provide comments and ask questions with respect to the draft. No significant feedback was received during this process.”

“Conflict of interest policy unc management company, inc. Has established a code of ethics which has been reviewed and approved by the company's board of directors. Unc management company is committed to the belief that sound business practices start with an absolute commitment from each employee to act ethically in carrying out the company's business and to comply with the laws and regulations that impact its business. Thus, unc management company's employees must avoid participating in activities that create or appear to create a conflict of interest. Unc management company has specified the following areas in its policy to be potential conflicts of interest: financial interest, outside employment, consultant contracts, acceptance of gifts, business courtesies, travel, lodging and entertainment, misuse of resources or assets, personal gain using undue influence, and use of confidential information. Unc management company's code of ethics requires employees to disclose participation in activities or circumstances that may present a conflict of interest on an annual basis or if at any time such individual becomes aware of circumstances that may present a conflict of interest. These disclosures are reviewed by the compliance officer (treasurer of the board of directors). In addition, unc management companys bylaws include a conflict of interest policy that applies to members of unc management companys board of directors. Such policy generally requires directors to disclose whether they have, or know of, certain conflicts of interest in connection with transactions being considered by unc management company and requires board or board committee approval of such transactions.”

“Determination of compensation for key employees and officers unc management company annually submits compensation and related cost data to an independent third party consulting firm which compiles statistical information gathered from colleges, universities, and university related investment management companies. Using this data, this consulting firm has produced a customized study for uncmc showing compensation ranges, on a position by position basis, for comparable institutions. The summarized results of this study have been presented to the company's board of directors. The company also uses data from additional third party sources to determine comparable compensation for administrative positions. Compensation levels for each of the officers of the company (president and ceo and vice presidents) are approved annually by the company's board of directors.”

“Governing documents unc management company, inc. Does not make its governing documents or its conflict of interest policy available to the public.”