Stowers Resource Management Inc

“Richard w. Brown, david a. Welte, alejandro sanchez alvarado, jonathan thomas, gina kaiser, alberzine freeman, charles german and brent kreider, all directors of srm, have a business relationship. Clifford w. Illig, jonathan thomas, alberzine freeman, brent kreider, richard w. Brown and charles german, directors of srm, and penny m. Spence, officer of srm, have a business relationship. Brent kreider, kausik si, and alejandro sanchez alvarado, directors of srm, have a business relationship.”

“The process for determining the reasonableness of the compensation for srm's president, executive vice-president/general counsel, and executive vice-president/cfo included retaining the services of a nationally known compensation consultant to provide data and analysis to determine comparable salary and benefits for similarly qualified persons in comparable positions at similarly situated organizations. Compensation for the president and executive vice-president/general counsel was documented in employment contracts which were approved by the governing body as documented in the official minutes. The last completed review process for srm's president was in 2019. The executive vice-president/general counsel review was completed in 2020. The executive vice-president/cfo review was completed in 2023.”

“Simr is srm's sole member and elects srm's board of directors. Simr also has the right to remove, with or without cause, one or more directors.”

“The board has delegated certain authority to an executive committee which may exercise delegated powers and authority of the board in the management of the business and affairs of srm. The members of the executive committee all serve on the board.”

“The data and information necessary to prepare srm's form 990 is compiled by the accounting department and reviewed by our tax attorney at bryan cave leighton paisner, llp. Forvis mazars, llp, our external tax preparers, uses this information to prepare the form 990. The completed form 990, including required schedules, is reviewed by the officers of srm before it is filed with the irs. After the preparation and review process detailed above, the form 990, including required schedules, is provided to each voting member of srm's board before it is filed with the irs.”

“Srm has adopted a "conflicts of interest and director independence policy". Each director, officer, and other person who is in a position to exercise substantial influence over decisions of srm are required to annually complete and sign a disclosure statement. A covered person must disclose the existence of a potential conflict and all material facts to the governing board as soon as the person has knowledge that a potential conflict might exist. Per the policy, the board of directors or governance committee then reviews the disclosure to determine whether a conflict exists. After the covered person makes the relevant disclosure, they are recused and may not participate in the deliberations and decisions regarding the transaction. Srm also conducts periodic and adhoc reviews of transactions and agreements to ensure that it does not engage in activities that are not consistent with its tax exempt purpose.”

“Stowers resource management inc's governing documents, conflict of interest policy, and financial statements are available upon request.”

“Richard w. Brown, george l. Satterlee, penny m. Spence, charles german, kim chee, tonyea inglis, jennifer pawlosky, evelyn travnik, and joselyn verschelden, officers of srm, also perform support services for one or more of the related organizations disclosed in schedule r. These services are performed in their role as srm employees and srm is reimbursed by the related organizations.”

“Srm receives investment management services from american century investments ("aci"). Aci is a wholly owned subsidiary of american century companies, inc. ("acci"). In selecting aci to manage its liquid investments, srm not only selected a high-quality mutual fund company with outstanding track record, but also placed its liquid investments in a company in which it owns stock and receives dividends. Srm pays aci the same administrative fees for these services as any arms-length investors.”

“Srm received expense reimbursements from related parties, as described in schedule r, for administrative support services by srm. Srm allocated the costs of providing these services to the related parties.”

“The stowers resource management inc. ("srm") operates exclusively within the meaning of code sections 501(c)(3) and 509(a)(3). Srm's charitable purpose is to support, benefit, and carry out the purposes of its supported organizations. Srm currently supports stowers institute for medical research ("simr") and the graduate school of the stowers institute for medical research ("gssimr"). Simr is a tax exempt organization described in section 501(c)(3), and public charity described in sections 509(a)(1) and 170(b)(1)(a)(iii). Simr is actively engaged in scientific research in the public interest. Gssimr is a tax exempt organization described in section 501(c)(3), a public charity described in section 509(a)(1) and further described as an educational organization in 170(b)(1)(a)(ii). Gssimr provides graduate education relating to medical or scientific research with an emphasis on innovative research techniques in the biological sciences. Srm helps manage simr's endowment, provides management support, and fundraises for simr's benefit. The management support involves assisting in planning for the strategic direction of simr, operational planning, development, and implementation of strategic business plans and budgets. Srm also provides additional administrative and operational support services to simr and gssimr that includes accounting, finance, human resources, information technology and other corporate support functions. The contributions, grants, and income from srm's endowment are used to support the exempt activities of simr.”

“Note 1: srm received pass-through amounts from stowers real estate holding corporation ("srehc"). Srm is the tax-exempt parent of srehc. Srehc is a tax-exempt organization under section 501(c)(2) of the code, and as such, srehc remits their net income and makes other transfers to its tax-exempt parent, srm. Srm received $972,000 of net income from srehc.”

“Equity transfers from related 501(c)(2) org (note 1) - 972000;”