Southern Methodist University

“Section b, line 14: southern methodist university does not have a university-wide retention policy, but departments within the university have retention and document destruction policies that reflect legislative or other legal requirements and good business practices.”

“R. Gerald turner ray hunt president trustee business relationship jeanne phillips ray hunt trustee trustee business relationship”

“Pursuant to the restated articles of incorporation of smu, campus property may be sold or leased only with the consent of the south central jurisdictional conference of the united methodist church.”

“The completed form 990 is provided to the audit committee of the board of trustees at a regularly scheduled meeting sufficiently in advance of the filing deadline to enable a detailed and conscientious review by the committee. All questions and concerns of the audit committee are addressed by the university and incorporated into the form 990 as required. The chair of the audit committee reports on this review to the full board of trustees at the next regular meeting of the board of trustees. The chair of the audit committee instructs the members of the board on how to access the form 990 on a secure website and encourages any trustee with questions to contact the vice president for business and finance. All board members also receive an email containing instructions on how to access the form 990 prior to the irs filing deadline.”

“Pursuant to the smu conflict of interest policy relating to trustees, members of board committees, executive officers, and deans, each covered person completes a conflict of interest disclosure form annually. These disclosures are reviewed by a board of trustees conflicts committee. The committee reviews the material facts and decides whether such facts give rise to conflicts of interest and, if so, whether such conflicts of interest should be approved or disapproved. With respect to any other smu employees with authority to sign contracts or who otherwise play a substantive role in the contract approval process for financial and other commercial commitments of the university, each such person must complete a conflict of interest disclosure form annually. These disclosures are reviewed by the general counsel. Upon review of all material facts, the general counsel must decide whether such facts give rise to conflicts of interest and, if so, whether such conflicts of interest should be approved or disapproved. The general counsel provides a written report of all such determinations to the board conflicts committee.”

“Pursuant to the compensation committee charter adopted by the smu board of trustees, the compensation committee of the smu board of trustees consists entirely of outside and independent members of the board. The committee makes compensation decisions based upon appropriate comparability data and includes the advice of an independent compensation consultant and contemporaneous documentation of the compensation decisions. The compensation committee has all of the powers of the full board in matters of compensation of corporate officers; the compensation committee must report any action taken by the committee to the board of trustees at the board's next meeting.”

“See answer in part vi, line 15a.”

“Mississippi, missouri, new hampshire, new jersey, new mexico, new york, north carolina, north dakota, ohio, oregon, pennsylvania, rhode island, south carolina, tennessee, utah, virginia, washington, west virginia, wisconsin”

“The organization does not make its governing documents, conflict of interest policy and financial statements available to the public. Form 990, part vi, line 18 - all requests for copies of form 990 and 990-t are reviewed and processed by the tax department of southern methodist university. Upon receiving a written request, the university provides a copy of the requested documentation within 30 days from the date of receipt. If the request is made in person, the university provides the copies on the day of the request, unless unusual circumstances prevent this in which case the requested documentation is provided within five days after the date of the request.”

“Part iv, line 12: the university did not receive a separate audited financial statement. However, the university's consolidated financial statements including the balance sheet and related statements of activities and cash flows were audited in accordance with gaap and were reported on a consolidated basis. Part iv, line 24b: the university plans to spend proceeds within the temporary period exception, but in cases when it does not, it prepares the appropriate arbitrage reporting and remits any excess earnings over the arbitrage yield to the government. Part iv, line 24c: the university received in a prior year a donation restricted for projects funded by bonds which it put into escrow until the earliest redemption date.”

“Form 990, part iii the covid-19 global health pandemic affected all of higher education in early 2020, including the university. In response to the challenges presented by the pandemic and in compliance with state and local government mandates, the university temporarily suspended in-person instruction in mid-march 2020 and migrated to a fully-online course delivery for the remainder of the spring 2020 semester. By summer of 2020, the university had implemented additional safety protocol and began offering a variety of flexible course delivery options to accommodate the varying needs of both students and faculty in a safe manner. Courses offering have included in- person, online and hybrid course delivery and we expect to continue to adjust as necessary until the pandemic subsides. The university anticipates that post-pandemic operations will be substantially similar to pre-pandemic operations.”

“Organized activities: organized activities make available to the public various resources that exist within the university such as seminars, conferences and camps.”

“UNITED KINGDOM”

“The audit committee for southern methodist university, the supported organization, is responsible for reviewing the consolidated audited financial statements and accompanying footnotes. During the audit committee meeting, the committee members are given an opportunity to ask questions of management and the audit firm. Significant transactions are highlighted in the executive summary provided to the committee. Form 990 part x lines 27-29: smu adopted asu 2016-14 in the year ending may 31, 2018. Unrestricted net assets include all net asset classified as "net asset without donor restrictions" in accordance with asc 958. Permanently restricted net assets include all net assets classified as "net assets with donor restrictions" in accordance with asc 958. Smu adopted asu no.2016-01 in the year ending may 31,2020. This removes the option for the university to report various equity investments at cost. These assets are reported at fair value. A cumulative-effect adjustment has been recognized in fiscal year 2019 to the consolidated statements of position which has increased the beginning investments and net asset balances by 333,998,000.”

“Beginning net assets as restated for fy19 333,998,000 net gain in investments restated for fy19 -38,493,000 total 295,505,000”