Millsaps College

“Compensation for the president is reviewed and approved by the compensation and executive committees of the board. Compensation for other officers is approved by the president. Compensation for officers is determined from review of market comparisons and performance measurements with other similar institutions.”

“The form 990 is reviewed in detail by the audit committee prior to filing with the irs. A copy of the form 990 is then provided to the entire board prior to filing with the irs.”

“Board members and officers complete and file a written conflict of interest statement annually. These statements are maintained in the business office. The business office reviews and reports all findings on the form 990. If a conflict of interest exists, the board member does not vote on the specific issue.”

“The organization's governing documents and conflict of interest policy are available to the public upon request.”

“OTHER REVENUE - Total Revenue: 49070, Related or Exempt Function Revenue: , Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: 49070;”

“Increase in cash surrender value - 183434; change in value in split interests - 68716; change in beneficial trust - 1750296; book tax difference in k-1s - 27825;”

“Millsaps college owns an interest in magnitude international, hedge funds, blackrock appreciation fund iv, and rcp fund xiii cayman feeder lp domiciled in the cayman islands. The book value of these investments as of 6/30/2024 was $15,555,511.”

“Millsaps indirectly transferred property to foreign corporations through its investment in domestic partnerships. One transfer from feg select, llc to redwheel emerging markets equity fund ltd. Was over the reporting threshold for form 926. Millsaps also directly transferred cash to rcp fund xiii cayman feeder lp in an amount over the reporting threshold, and this transaction was reported on a second form 926.”

“Millsaps did not meet requirements to file form 5471 during the fiscal year ended 6/30/2024 for its ownership interest in a foreign corproration. Therefore, form 5471 was not filed by millsaps.”

“The college was an indirect shareholder of a passive foreign investment company (pfic) or a qualified electing fund during the tax year. Per the instructions to form 8621, a tax-exempt organization that does not have distribtuions subject to unrelated business income tax from a pfic is not required to file the form. The college is a tax-exempt organization. There were no distributions from the pfic that were subject to unrelated business income tax. Accordingly, a form 8621 was not filed this tax year.”