Emory University

“TRUSTEES Sara Brown, MUHTAR KENT AND JAVIER GOIZUETTA - Business relationship, Trustees Robert Goddard and Leah Ward Sears - Business relationship”

“The form 990 is prepared and reviewed by the organization's management and reviewed by an independent third party accounting firm. Prior to finalization of the return, management provided access to a final draft of the form 990 to all members of the board of trustees and gave them an opportunity to make comments. Management updated the form 990 for all comments received and provided the final version of the form 990 to all members of the board of trustees prior to filing.”

“Emory university's conflict of interest policy requires trustees, officers and other decision makers 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 by trustees are reviewed by the executive compensation and trustees' conflict of interest committee of the university board of trustees ("conflict of interest committee"), as necessary. If the conflict of interest committee determines that a conflict of interest exists, the individual with the conflict of interest may make a presentation to the applicable committee, but after such presentation, the individual must leave the meeting during the discussion of, and the vote on, the transaction or arrangement that resulted in the conflict of interest. During the fiscal year none of the trustees with related business interests voted on business decisions involving such companies.”

“Emory university's executive compensation and trustees' conflict of interest committee of the board of trustees, which is composed of non-employee members of the emory university board of trustees, annually reviews market data, collected and reported by independent consulting firms, from comparable institutions for each position identified as a "disqualified person" for purposes of intermediate sanctions under irs regulations. The committee discusses the proposed compensation for each such individual in the context of the market data and the individual's performance and contribution to emory, and it makes a decision regarding the appropriateness of compensation and any compensation increase. The discussions are documented in the committee's minutes by a representative of the office of the general counsel.”

“Emory university's executive compensation and trustees' conflict of interest committee of the board of trustees, which is composed of non-employee members of the emory university board of trustees, annually reviews market data, collected and reported by independent consulting firms, from comparable institutions for each position identified as a "disqualified person" for purposes of intermediate sanctions under irs regulations. The committee discusses the proposed compensation for each such individual in the context of the market data and the individual's performance and contribution to emory, and it makes a decision regarding the appropriateness of compensation and any compensation increase. The discussions are documented in the committee's minutes by a representative of the office of the general counsel.”

“Emory university makes its governing documents and its financial statements available to the public via its website.”

“The emory clinic, inc. ("tec") (ein: 58-2030692) and emory children's center, inc. ("ecc") (ein: 58-2298500) have a common paymaster relationship for payroll purposes with emory university. The salaries of tec's and ecc's employees are paid by emory university, reported on emory university's forms 941, and reimbursed by tec and ecc. Therefore, these employees are reported on emory university's form 990. The staff members of emory medical care foundation, inc. ("emcf") (ein:58-1537752) and emory innovations, inc. ("ei") (ein: 45-5372942) are employees of emory university. The salaries of emcf and ei's employees are paid by emory university, reported on emory university's forms 941, and reimbursed by emcf and ei respectively. Therefore, these employees are reported on emory university's form 990.”

“To fulfill this mission, the university supports teaching from the undergraduate to the advanced graduate and professional levels, and scholarship from basic research to its application in public service. As a comprehensive research university, Emory's academic programs span a great range from arts and sciences to business, law, theology, and the health professions. These different fields of study are knit together by robust interdisciplinary programs and a core devotion to liberal learning. The Emory community is open to all who meet its high standards of academic excellence and integrity. The university welcomes a diversity of ethnic, cultural, socioeconomic, religious, national, and international backgrounds, believing that the intellectual and social energy that results from such diversity is critical to advancing knowledge. Emory is committed to opening disciplinary boundaries and supporting interdisciplinary research and teaching from a global perspective. Along with this, Emory strives to create a community characterized by respectful and mutually supportive interaction among faculty, students, staff, and the wider world. In keeping with the demand that teaching, learning, research, and service be measured by high standards of integrity and excellence, and believing that each person and every level of scholarly activity should be valued on its own merits, the university aims to imbue scholarship at Emory with: * a commitment to humane teaching and mentorship and a respectful interaction among faculty, students, and staff; * open disciplinary boundaries that encourage integrative teaching, research, and scholarship; * a commitment to use knowledge to improve human well-being; and * a global perspective on the human condition.”

“A copy of emory university's august 31, 2019 audited financial statements is attached to this return. The following entities included in these financial statements are not included in the emory university returns but are included in the emory group return - emory healthcare inc ("ehc"), the emory clinic inc ("tec"), wesley woods center of emory university inc ("wwc"), emory medical care foundation inc("emcf"), emory innovations inc("ei"), emory/saint joseph's inc ("esj"), saint joseph's hospital of atlanta inc ("sjha"), and emory children's center inc ("ecc").”

“ADJUSTMENT TO ANNUITIES PAYABLE - 715963; CHANGE IN FAIR VALUE OF DERIVATIVE INSTRUMENTS - -XXX-XX-XXXX; ADJUSTMENT TO PERPETUAL FUND INCOME - XXX-XX-XXXX; Gain on Defeasement - 4277441; Pension & Post Retirement Benefit Plan Adj - -20353000; TRANSFER OF NET ASSETS TO CONSOLIDATED AFFILIATES - XXX-XX-XXXX; GAAP ADJUSTMENTS - -1573875;”

“PERFORMANCE BONUSES WERE PAID TO CERTAIN EXECUTIVES DURING THE YEAR Vince Dollard $15,000 Paul Marthers $10,000 Richard Mendola $10,000”

“Per his employment letter, Srinivas Pulavarti received $300,000 to make up for lost compensation at his former employment.”