Duke University Special Ventures Fund Inc.

“Neal f. Triplett is a key employee of duke university. The following directors and officers of duke university special ventures fund, inc. Are also employees of duke university: gregory a. Hudgins, jannine m. Lall, and robert mcgrail.”

“The members of the board of duke university special ventures fund, inc. Shall be appointed by the executive committee of the board of trustees of duke university. The members of the board of directors of dumac, inc. Shall be appointed by the executive committee of the duke university board of trustees and confirmed by duke university's board of trustees.”

“Dumac, inc. Manages the investments of duke university special ventures fund, inc. Pursuant to authorization provided by duke university, officers of dumac, inc. Act as the authorized agent for duke university special ventures fund, inc. In approving investments of duke university special ventures fund, inc. Assets and entering into agreements and other transactions related to such investments. Certain decisions of the governing body are subject to approval by the board of trustees of duke university.”

“Duke university special ventures fund, inc. Provides the members of the governing body with a draft of form 990 for individual review prior to filing. Form 990, part vi, line 12a conflict of interest policy: duke university special ventures fund, inc. Does not have a written conflict of interest policy, but all board members are subject to compliance with dumac inc.'s written conflict of interest policy and must disclose any conflicts annually. Form 990, part vi, line 13 whistleblower policy: duke university special ventures fund, inc. Does not have a written whistleblower policy, but all board members are subject to compliance with dumac, inc.'s written whistleblower policy. Form 990, part vi, line 14 document retention and destruction: duke university special ventures fund, inc. Does not have a written document retention and destruction policy, but follows dumac, inc.'s written document retention and destruction policy. Form 990, part vi, line 16b joint ventures: duke university special ventures fund, inc. Has enacted adequate safeguards for its partnership investments to ensure that these activities do not jeopardize the organization's tax exempt status.”

“In addition to providing the organization's form 990 upon request, the organization's form 990 is available to the public on several third party websites. While the organization does not provide the form 990 directly to these third parties, the form 990 is obtained from the internal revenue service. The third parties subsequently and independently provide access to the form 990 on their platform.”

“Duke university special ventures fund, inc.'s (dusvf) governing documents (articles of incorporation and any subsequent amendments or restatements) are available to the public on the north carolina secretary of state website. The organization does not have a separate conflict of interest policy but follows dumac inc.'s conflict of interest policy. Dusvf is included in the consolidated, independently audited financial statements of duke university, which are available at https://resources.finance.duke.edu/resources/docs/financial_reports2020-21. Pdf (all lowercase).”

“Gross sales of assets other than inventory duke university (and therefore dumac, inc.) manages its investment funds in accordance with the uniform prudent management of institutional funds act of north carolina. As permitted by the act, the university (and therefore dumac, inc.) utilizes two investment pools to invest its funds and these funds operate on a total return concept.”

“Description of organization's mission duke university special ventures fund, inc. Was formed to own and invest assets exclusively for the benefit of duke university and to support its exempt purposes.”

“The reconciliation amount on line 9 is the current year book/tax income differences from the organization's partnership investments. 348,940.”

“Method of accounting duke university special ventures fund, inc. Utilizes the accrual accounting method in accordance with gaap for all items other than reporting of its partnership investments. Partnership investments are reported on a tax basis.”