2024-05-15T14:04:34-05:00 2023-06-30 410746749 CLIFTONLARSONALLEN LLP 8390 EAST CRESCENT PARKWAY SUITE 300 GREENWOOD VILLAGE CO 80111 990 2022-07-01 870212470 WESTMINSTER UNIVERSITY WEST 8018322148 1840 SOUTH 1300 EAST SALT LAKE CITY UT 84105 DEBRA GLENN CFO & VP OF FINANCE/ADMIN 8018322148 2024-05-14 1 DEBRA GLENN XXX-XX-XXXX 1 SARAH HINTZ P00492291 3037795710 2024-05-13 0 AAL1 IAL1 2022 2023-04-26 12:10:37Z DEBRA GLENN 1840 SOUTH 1300 EAST SALT LAKE CITY UT 84105 90211819 0 X HTTPS://WESTMINSTERU.EDU/ X 1875 UT OFFER UNDERGRADUATE AND GRADUATE DEGREES IN LIBERAL ARTS AND PROFESSIONAL PROGRAMS. 23 22 1155 200 -58856 0 16506549 28845804 54646175 48452176 275490 -4956219 7265541 2988442 78693755 75330203 28519026 22989647 0 0 32981877 33153759 0 0 1415204 22919434 23817253 84420337 79960659 -5726582 -4630456 204629439 185274205 39446697 33901672 165182742 151372533 X WESTMINSTER UNIVERSITY IS A PRIVATE, INDEPENDENT UNIVERSITY DEDICATED TO STUDENT LEARNING. WE ARE A COMMUNITY OF LEARNERS WITH A LONG AND HONORED TRADITION OF CARING DEEPLY ABOUT STUDENTS AND THEIR EDUCATION. WE OFFER LIBERAL ARTS AND PROFESSIONAL EDUCATION IN COURSES OF STUDY FOR UNDERGRADUATE, SELECTED GRADUATE, AND OTHER INNOVATIVE DEGREE AND NONDEGREE PROGRAMS. STUDENTS ARE CHALLENGED TO EXPERIMENT WITH IDEAS, RAISE QUESTIONS, CRITICALLY EXAMINE ALTERNATIVES, AND MAKE INFORMED DECISIONS. WE ENCOURAGE STUDENTS TO ACCEPT RESPONSIBILITY FOR THEIR LEARNING, TO DISCOVER AND PURSUE THEIR PASSIONS, AND TO PROMOTE MORE EQUITABLE AND SUSTAINABLE COMMUNITIES. OUR PURPOSES ARE TO PREPARE STUDENTS TO LEAD LIVES OF LEARNING, ACCOMPLISHMENT, AND SERVICE AND TO HELP THEM DEVELOP SKILLS AND ATTRIBUTES CRITICAL FOR SUCCESS IN A DIVERSE AND INTERDEPENDENT WORLD. 0 0 68528720 22989647 51440618 INSTRUCTION: 968 STUDENTS IN UNDERGRADUATE PROGRAMS AND 319 STUDENTS IN GRADUATE PROGRAMS 454 STUDENTS GRADUATED IN THE 2022-2023 ACADEMIC YEAR. 68528720 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 1 1 1 0 1 0 1 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 2127 0 1 1155 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 23 22 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 UT X DEBRA GLENN 8018322148 1840 SOUTH 1300 EAST SALT LAKE CITY UT 84105 BETHAMI DOBKIN PRESIDENT 40.00 0.20 X X 398967 0 123960 PRESON CHIARO BOARD CHAIR 1.60 0.00 X X 0 0 0 CATERINE PUTNAM-NETTO VICE-CHAIR 1.60 0.00 X X 0 0 0 WILLIAM ORCHOW TREASURER 1.60 0.00 X X 0 0 0 AMY WADSWORTH SECRETARY 1.60 0.00 X X 0 0 0 KIM ADAMSON TRUSTEE 1.60 0.00 X 0 0 0 MICHAEL BILLS TRUSTEE 1.60 0.00 X 0 0 0 KIM CORDOVA TRUSTEE 1.60 0.00 X 0 0 0 NANCY DEFORD TRUSTEE 1.60 0.00 X 0 0 0 RAYMOND ETCHEVERRY TRUSTEE 1.60 0.00 X 0 0 0 BING FANG TRUSTEE 1.60 0.00 X 0 0 0 THOMAS FEY TRUSTEE 1.60 0.00 X 0 0 0 TERRY GRANT TRUSTEE 1.60 0.00 X 0 0 0 DANNY GIOVALE TRUSTEE 1.60 0.20 X 0 0 0 KERI HALE TRUSTEE 1.60 0.00 X 0 0 0 ADAM MANGONE TRUSTEE 1.60 0.00 X 0 0 0 JERILYN MCINTYRE TRUSTEE 1.60 0.00 X 0 0 0 MUFFY MEAD-FERRO TRUSTEE 1.60 0.00 X 0 0 0 PETER MICHELL TRUSTEE 1.60 0.00 X 0 0 0 O WOOD MOYLE TRUSTEE 1.60 0.20 X 0 0 0 L JACKSON NEWELL TRUSTEE 1.60 0.00 X 0 0 0 ROBERT RENDON TRUSTEE 1.60 0.00 X 0 0 0 ENGELS TEJEDA TRUSTEE 1.60 0.00 X 0 0 0 DEBRA GLENN CFO/ VP FINANCE (AS OF 3/23) 40.00 0.50 X 0 0 0 DEBORAH TAHMASSEBI PROVOST 40.00 0.00 X 270604 0 55958 DANIEL LEWIS VP INSTITUTIONAL ADVANCEMENT 40.00 0.00 X 199436 0 10121 ERICA JOHNSON VP ENROLLMENT 40.00 0.00 X 197105 0 10100 MICHIKO PINNINGTON CFO/ VP FINANCE (THRU 1/23) 40.00 0.50 X 168354 0 33569 JAMES STIMPSON PROFESSOR 40.00 0.00 X 209318 0 55697 KATHRYN HOLMES GENERAL COUNSEL & CRO 40.00 0.00 X 151208 0 34742 PETER GRECO VP AND CIO 40.00 0.00 X 165201 0 55663 MELANIE J AGNEW DEAN, SCHOOL OF EDUCATION 40.00 0.00 X 149100 0 43246 SHERYL J STEADMAN DEAN OF NURSING & HEALTH SCIENCES 40.00 0.00 X 148115 0 34153 2057408 0 457209 42 0 1 0 AMERICAN MECHANICAL SYSTEMS 7530 S STATE ST SALT LAKE CITY UT 84047 MAINTENANCE AND REPAIR 387628 VCBO ARCHITECTURE 524 S 600 E SALT LAKE CITY UT 84102 ARCHITECTURE SERVICES 374845 ROBERT FERRILLI LLC 4 KINGS HIGHWAY EAST HADDONFIELD NJ 08033 IS ADVISOR SERVICES 364869 ELLUCIAN LLC 2003 EDMUND HALLEY DR RESTON VA 20191 HIGHER EDUCATION ERP 338556 CLIFTONLARSONALLEN LLP 6955 S UNION PARK CENTER 300 COTTONWOOD HEIGHTS UT 84047 ACCOUNTING SERVICES 317671 10 4292739 10185339 14367726 1292551 28845804 TUITION AND FEES 611310 43219686 43219686 AUXILIARY SERVICES 611310 5232490 5232490 48452176 637192 -58856 696048 9026301 261904 14881616 0 -5855315 261904 -5593411 -5593411 OTHER INCOME 900099 2988442 2988442 2988442 75330203 51440618 -58856 -4897363 21719363 21719363 1270284 1270284 1338395 540365 561271 236759 25667466 22356608 2564694 746164 1253388 1036570 180956 35862 3057415 2477301 469945 110169 1837095 1585923 184468 66704 202079 202079 182972 21522 161450 781175 781175 34805 34805 2904647 2455225 438218 11204 1142625 31994 1110631 1334796 1183833 140539 10424 1535676 942191 480451 113034 9700 9700 3063247 2841391 215611 6245 1608699 1567311 21101 20287 547083 436373 89762 20948 2181088 1051645 1129443 3523751 3453840 69911 672402 189409 482993 FOOD 1791016 1469514 305132 16370 DUES/FEES/SUBSCRIPTIONS 695464 570623 118485 6356 MISC. EXPENSE 570565 468144 97206 5215 GIFTS 251578 206418 42861 2299 783885 643173 133548 7164 79960659 68528720 10016735 1415204 20747595 12825644 6747091 2510700 282306 5663308 1530642 1244565 824997 1100351 151308649 66871093 75375866 84437556 88057795 73298104 11063147 4193977 204629439 185274205 5482545 2025609 872626 1539246 16666989 14892626 181334 143250 422906 275009 15820297 15025932 39446697 33901672 X 51291377 53635609 113891365 97736924 165182742 151372533 204629439 185274205 X -4630456 5407923 -14587676 X X 0 1 X 1 1 1 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 1 0 0 0 0 1 350 0 0 350 0 PART II-B, LINE 1 THE DIRECTOR OF GOVERNMENT RELATIONS AND SPONSORED PROJECTS IS A FULL-TIME STAFF POSITION AT WESTMINSTER UNIVERSITY. THIS EMPLOYEE IS INVOLVED IN LOBBYING ACTIVITIES, WHICH INCLUDE: DEVELOPING LEGISLATIVE COMMUNICATION CONTACTING LEGISLATORS AND GOVERNMENT OFFICIALS VIA EMAIL MEETING WITH SOME LEGISLATORS AND GOVERNMENT OFFICIALS IN PERSON ATTENDING LEGISLATIVE COMMITTEE MEETINGS FACILITATING TESTIMONY IN A LEGISLATIVE COMMITTEE MEETING TO INFLUENCE LEGISLATION. 0 903115 X X X 0 80307609 1537390 6090864 1790672 7288790 78856401 95921030 3452462 -9044649 1880894 8140340 80307609 74073268 697048 24585107 1430505 2003888 95921030 80419992 1036870 743780 1382799 6744575 74073268 77055888 2667429 4090340 1300791 2092874 80419992 0.00000 0.76528 0.23472 1 1 0 2183785 2183785 126791047 48380094 78410953 3141057 2337410 803647 9316992 8157941 1159051 9875768 7995648 1880120 84437556 MONEY MARKET FUNDS 6331581 F MULTI-STRATEGY INVESTMENTS 58018934 F PRIVATE EQUITY FUNDS 1416035 F REAL ESTATE 167107 F GOVERNMENT BONDS 956440 C BENEFICIAL TRUST INTERST 5137655 C NATURAL RESOURCE FUNDS 1249203 C DISTRESSED DEBT FUND 21149 C 73298104 FUNDS HELD ON DEPOSIT FOR OTHERS 377251 US GOVERNMENT GRANTS RECEIVABLE 352277 FINANCE LEASE OBLIGATIONS 14296404 15025932 X 54728798 6499275 105397 6604672 48124126 37441 27168636 27206077 75330203 56943483 9912 9912 56933571 37441 22989647 23027088 79960659 PART III, LINE 4: THE UNIVERSITY RECEIVED DONATIONS OF COLLECTION AND WORKS OF ART, THESE COLLECTIONS FURTHER THE UNIVERSITY'S EXEMPT PURPOSE BY ENHANCING THE EDUCATIONAL EXPERIENCE FOR THE STUDENTS BY USING THEM FOR DISCUSSIONS AND RESEARCH IN THE CLASSROOM AS WELL AS FOR PUBLIC EXHIBITION. PART V, LINE 4: THE INTENDED USE OF ENDOWMENT FUNDS AT THE UNIVERSITY IS TO PROVIDE SCHOLARSHIPS TO STUDENTS AND SUPPORT THE ACTIVITIES OF THE UNIVERSITY. THIS IS DONE THROUGH THE DISTRIBUTION OF EARNINGS TO THE OPERATING FUND IN A MANNER CONSISTENT WITH DONOR RESTRICTIONS. PART X, LINE 2: THE UNIVERSITY FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. PART XI, LINE 2D - OTHER ADJUSTMENTS: BILL AND VIEVE GORE ENDOWMENT REVENUE 67,313. ACTUARIAL GAIN ON ANNUITY OBLIGATIONS 38,084. PART XI, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED WITH REVENUE 22,989,647. CONTRIBUTION FROM BILL AND VIEVE GORE ENDOWMENT 4,178,989. PART XII, LINE 2D - OTHER ADJUSTMENTS: BILL AND VIEVE GORE ENDOWMENT EXPENSES 9,912. PART XII, LINE 4B - OTHER ADJUSTMENTS: SCHOLARSHIPS NETTED WITH REVENUE 22,989,647. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 WESTMINSTER UNIVERSITY HAS A LINK TO THEIR RACIALLY NONDISCRIMINATORY POLICY ON THEIR WEBSITE HOMEPAGE, BUT DOES NOT HAVE THE POLICY DIRECTLY ON THEIR HOMEPAGE. SCHEDULE E, PART I, LINE 6 EXPLANATION OF GOVERNMENT FINANCIAL AID: WESTMINSTER UNIVERSITY PARTICIPATES IN VARIOUS FINANCIAL ASSISTANCE PROGRAMS AS AUTHORIZED BY TITLE IV OF THE HIGHER EDUCATION ACT OF 1965 AND ADMINISTERED BY THE U.S. DEPARTMENT OF EDUCATION. 1 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES UNIVERSITY TRIP & CONSULTING SERVICES 6664 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES UNIVERSITY TRIP & CONFERENCES 22577 NORTH AMERICA 0 0 PROGRAM SERVICES EQUIPMENT 12138 EAST ASIA AND THE PACIFIC 0 0 INSTITUTIONAL SCHOLARSHIPS 233330 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INSTITUTIONAL SCHOLARSHIPS 499222 MIDDLE EAST AND NORTH AFRICA 0 0 INSTITUTIONAL SCHOLARSHIPS 16000 NORTH AMERICA 0 0 INSTITUTIONAL SCHOLARSHIPS 76370 SOUTH AMERICA 0 0 INSTITUTIONAL SCHOLARSHIPS 204246 SOUTH ASIA 0 0 INSTITUTIONAL SCHOLARSHIPS 134266 SUB-SAHARAN AFRICA 0 0 INSTITUTIONAL SCHOLARSHIPS 106850 0 0 0 0 0 0 1070547 241116 1311663 INSTITUTIONAL SCHOLARSHIP EAST ASIA AND THE PACIFIC 15 233330 WIRE/ACH 0 N/A N/A INSTITUTIONAL SCHOLARSHIP EUROPE (INCLUDING ICELAND & GREENLAND) 15 499222 WIRE/ACH 0 N/A N/A INSTITUTIONAL SCHOLARSHIP MIDDLE EAST AND NORTH AFRICA 1 16000 WIRE/ACH 0 N/A N/A INSTITUTIONAL SCHOLARSHIP NORTH AMERICA 3 76370 WIRE/ACH 0 N/A N/A INSTITUTIONAL SCHOLARSHIP SOUTH AMERICA 7 204246 WIRE/ACH 0 N/A N/A INSTITUTIONAL SCHOLARSHIP SOUTH ASIA 4 134266 WIRE/ACH 0 N/A N/A INSTITUTIONAL SCHOLARSHIP SUB-SAHARAN AFRICA 5 106850 WIRE/ACH 0 N/A N/A 1 0 0 0 0 0 PART I, LINE 2: THE UNIVERSITY KEEPS DETAILED RECORDS OF ALL AWARDS ON THE STUDENT'S BILLING STATEMENT. ALL AWARDS ARE REGULARLY REVIEWED AND CERTAIN FUNDS ARE USED FOR TRACKING RESTRICTIONS AND REQUIREMENTS. AWARDING PRACTICES ARE REVIEWED FOR COMPLIANCE WITH FEDERAL REGULATIONS. STUDENTS ARE REVIEWED YEARLY FOR CONTINUED AND NEW FUND ELIGIBILITY TO BE SURE ACADEMIC STANDARDS AND OTHER GRANT-SPECIFIC CRITERIA HAVE BEEN MET. PART I, LINE 3: EXPENDITURES ARE REPORTED USING THE ACCRUAL METHOD OF ACCOUNTING. PART III ACCOUNTING METHOD: 1 SCHOLARSHIPS 1013 21719363 0 N/A N/A PART I, LINE 2: THE UNIVERSITY REPORTS ARE REGULARLY REVIEWED TO BE CERTAIN FUNDS ARE USED FOR PROPER PURPOSES. FEDERAL GRANT REPORTING AND RECONCILIATION OCCURS MONTHLY AND DURING THE YEARLY SINGLE AUDIT. AWARDING PRACTICES ARE REVIEWED FOR COMPLIANCE WITH FEDERAL REGULATIONS. STUDENTS ARE REVIEWED YEARLY FOR CONTINUED AND NEW FUND ELIGIBILITY TO BE SURE ACADEMIC STANDARDS AND OTHER GRANT-SPECIFIC CRITERIA HAVE BEEN MET. X X X X 0 1 0 0 0 0 0 0 0 BETHAMI DOBKIN PRESIDENT 379467 0 0 0 19500 0 102300 0 21660 0 522927 0 19500 0 DEBORAH TAHMASSEBI PROVOST 270604 0 0 0 0 0 28178 0 27780 0 326562 0 0 0 JAMES STIMPSON PROFESSOR 209318 0 0 0 0 0 8651 0 47046 0 265015 0 0 0 PETER GRECO VP AND CIO 165201 0 0 0 0 0 8333 0 47330 0 220864 0 0 0 DANIEL LEWIS VP INSTITUTIONAL ADVANCEMENT 199436 0 0 0 0 0 10121 0 0 0 209557 0 0 0 ERICA JOHNSON VP ENROLLMENT 197105 0 0 0 0 0 10100 0 0 0 207205 0 0 0 MICHIKO PINNINGTON CFO/ VP FINANCE (THRU 1/23) 168354 0 0 0 0 0 7969 0 25600 0 201923 0 0 0 MELANIE J AGNEW DEAN, SCHOOL OF EDUCATION 149100 0 0 0 0 0 6968 0 36278 0 192346 0 0 0 KATHRYN HOLMES GENERAL COUNSEL & CRO 151208 0 0 0 0 0 7742 0 27000 0 185950 0 0 0 SHERYL J STEADMAN DEAN OF NURSING & HEALTH SCIENCES 148115 0 0 0 0 0 7153 0 27000 0 182268 0 0 0 PART I, LINE 4B FOR EACH YEAR OF SERVICE, THE PRESIDENT SHALL ACCRUE SUPPLEMENTAL DEFERRED COMPENSATION BENEFITS EQUAL TO 10% OF BASE SALARY. THE UNIVERSITY SHALL CONTRIBUTE 14% OF THE PRESIDENT'S ANNUAL SALARY INTO A NONQUALIFIED DEFERRED COMPENSATION PLAN. THE PRESIDENT BECOMES ELIGIBLE AND VESTS FOR THE BENEFITS AFTER THE CONCLUSION OF EACH THREE OR TWO-YEAR CONTRACT. FOR THE 2022 CALENDAR YEAR, A CONTRIBUTION OF $69,900 WAS MADE AND $19,500 OF PRIOR CONTRIBUTIONS VESTED. A SALT LAKE COUNTY UTAH 876000316 79567PDZ3 2015-04-21 12180302 TO ADVANCE REFUND 0 0 0 B SALT LAKE COUNTY UTAH 876000316 79567PEM1 2017-01-05 13778736 TO ADVANCE REFUND 0 0 0 A 4915000 12180302 1315459 214865 11965437 2015 0 1 1 1 B 4760000 13778736 1315532 229270 13549466 2017 0 1 1 1 A 0 0 0 0 0 0 1 B 0 0 0 0 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: SALT LAKE COUNTY, UTAH DATE THE REBATE COMPUTATION WAS PERFORMED: 06/08/2020 ISSUER NAME: SALT LAKE COUNTY, UTAH DATE THE REBATE COMPUTATION WAS PERFORMED: 01/05/2022 X 4000 FMV X 39140 FMV X 11 1248491 FMV X 1 920 FMV 0 0 1 0 PART I, COLUMN (B): COLUMN B INDICATES THE NUMBER OF CONTRIBUTIONS. FORM 990, PAGE 1, BOX C, NAME OF THE ORGANIZATION IN APRIL 2023, WESTMINSTER COLLEGE WAS RENAMED WESTMINSTER UNIVERSITY (THE "UNIVERSITY"). FORM 990, PART VI, SECTION A, LINE 1A THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES SHALL INCLUDE THE CHAIR OF THE BOARD OF TRUSTEES, THE VICE CHAIR OF THE BOARD OF TRUSTEES, THE PRESIDENT, AND SUCH OTHER TRUSTEES AS APPOINTED BY THE CHAIR. THE CHAIR OF THE BOARD OF TRUSTEES SHALL BE THE CHAIR OF THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL PERFORM THE FOLLOWING DUTIES: - REPRESENT THE BOARD OF TRUSTEES IN THE INTERVALS BETWEEN BOARD MEETINGS ON ACTIONS WHICH MUST BE FINAL AND APPROVED PRIOR TO THE NEXT MEETING OF THE BOARD AND ON MATTERS AS DELEGATED BY THE BOARD OF TRUSTEES TO THE EXECUTIVE COMMITTEE, EXCEPT TO THE EXTENT PROHIBITED BY THESE BYLAWS AND THE UTAH REVISED NONPROFIT CORPORATION ACT 2000, AND ANY SUBSEQUENT AMENDMENTS OR SUCCESSOR THERETO; -REPORT ALL EXECUTIVE COMMITTEE ACTIONS IN FULL TO THE BOARD OF TRUSTEES AT THE FIRST BOARD OF TRUSTEES MEETING AFTER THE DATE OF THE EXECUTIVE COMMITTEE'S ACTION. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATIONS BYLAWS WERE UPDATED TO REFLECT CHANGES TO BOARD MEMBER TERM AND CONFLICT OF INTERESTS BETWEEN TRUSTEES AND OTHER COLLEGES OR UNIVERSITIES. FORM 990, PART VI, SECTION B, LINE 11B WESTMINSTER UNIVERSITY (THE "UNIVERSITY") TAX RETURN IS REVIEWED BY THE DIRECTOR OF BUDGET AND REPORTING AND THE VP OF FINANCE AND ADMINISTRATION. ONCE COMPLETED, THE DOCUMENTS ARE REVIEWED BY THE AUDIT AND RISK MANAGEMENT COMMITTEE AND SUBMITTED ELECTRONICALLY TO THE FULL BOARD OF TRUSTEES. ONCE THE TRUSTEES HAVE REVIEWED, THE RETURN IS TRANSMITTED ELECTRONICALLY TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C PROCESS OF IDENTIFICATION: THE SECRETARY OF THE BOARD WILL COLLECT STATEMENTS OF DISCLOSURE FROM ALL TRUSTEES, OFFICERS, AND KEY EMPLOYEES EACH YEAR AT THE FIRST BOARD MEETING OF THE UNIVERSITY'S FISCAL YEAR AND FROM ALL NEW TRUSTEES, OFFICERS, AND KEY EMPLOYEES AT THE TIME OF THEIR APPOINTMENT. THE AUDIT AND RISK MANAGEMENT COMMITTEE WILL REVIEW EACH STATEMENT OF DISCLOSURE FOR ACTUAL OR POTENTIAL CONFLICTS OF INTEREST, INCLUDING, BUT NOT LIMITED TO, THE FOLLOWING FACTORS: - SOLICITATION OR ACCEPTANCE OF GIFTS, GRATUITIES, FREE TRAVEL, OR OTHER ITEMS OF VALUE THAT COULD CREATE THE APPEARANCE OF A CONFLICT OR AN EXPECTATION OF SPECIAL TREATMENT IN UNIVERSITY MATTERS; - INCIDENTS OF ABUSE OR MISUSE OF AN INDIVIDUAL'S POSITION FOR PERSONAL OR THIRD-PARTY GAIN OR BENEFIT; - USE OF THE UNIVERSITY STAFF, SERVICES, EQUIPMENT, MATERIALS, RESOURCES, OR PROPERTY FOR PERSONAL OR THIRD PARTY GAIN OR BENEFIT; - USE OF THE UNIVERSITY'S STAFF, SERVICES, EQUIPMENT, MATERIALS, RESOURCES, OR PROPERTY FOR PERSONAL OR THIRD PARTY GAIN, OR REPRESENTING TO THIRD PARTIES THAT ONE'S AUTHORITY AS A TRUSTEE, OFFICER, VOLUNTEER, OR KEY EMPLOYEE IS MORE EXTENSIVE THAN IT IS IN ACTUALITY; - SITUATIONS WHERE A TRUSTEE, OFFICER, OR KEY EMPLOYEE MAY BE DIVIDED BETWEEN PERSONAL INTERESTS OR THE INTERESTS OF ANOTHER ORGANIZATION AND THE BEST INTERESTS OF THE UNIVERSITY; - ENGAGEMENT IN BUSINESS, PROFESSIONAL CONDUCT, OR OTHER ACTIVITIES THAT MAY BE DIRECTLY OR INDIRECTLY ADVERSE TO THE INTERESTS OF THE UNIVERSITY; AND, - ANY ARRANGEMENTS IN WHICH A TRUSTEE, OFFICER, OR KEY EMPLOYEE PROVIDES GOODS OR SERVICES TO THE UNIVERSITY AS A PAID VENDOR OR OUTSIDE SERVICE-PROVIDER. THE AUDIT AND RISK MANAGEMENT COMMITTEE MAY REQUEST ADDITIONAL INFORMATION FROM ANY TRUSTEE, OFFICER, OR KEY EMPLOYEE AT ANY TIME. WHILE AN INDIVIDUAL'S RELATIONSHIPS OR ACTIVITIES ARE UNDER REVIEW, THE INDIVIDUAL MAY NOT DELIBERATE, DEBATE, OR VOTE UNTIL A DETERMINATION IS MADE. RESOLUTION: WHEN THE AUDIT AND RISK MANAGEMENT COMMITTEE OR THE BOARD OF TRUSTEES IDENTIFIES AN ACTUAL, POTENTIAL, OR APPARENT CONFLICT OF INTEREST, IT MAY TAKE ONE OF THE FOLLOWING ACTIONS TO RESOLVE SUCH CONFLICT: - WAIVE THE CONFLICT OF INTEREST AS UNLIKELY TO AFFECT THE TRUSTEE'S, OFFICER'S, VOLUNTEER'S, OR KEY EMPLOYEE'S ABILITY TO ACT IN THE BEST INTERESTS OF THE UNIVERSITY; - RECUSE THE INDIVIDUAL TRUSTEE, OFFICER, VOLUNTEER, OR KEY EMPLOYEE FROM DELIBERATION OR DECISION-MAKING RELATED TO THE SPECIFIC MATTER GIVING RISE WESTMINSTER UNIVERSITY 87-0212470 TO THE CONFLICT. - REQUEST THE RESIGNATION OF THE TRUSTEE, OFFICER, VOLUNTEER OR KEY EMPLOYEE FROM HIS OR HER SERVICE OR POSITION AT THE UNIVERSITY BECAUSE THE CONFLICT OF INTEREST IS SO PERVASIVE THAT IT IS LIKELY THE TRUSTEE, OFFICE OR KEY EMPLOYEE WOULD BE UNABLE TO ACT SOLELY IN THE BEST INTERESTS OF THE UNIVERSITY. THE BOARD OF TRUSTEES HAS FINAL AUTHORITY OVER THE RESOLUTION OF ALL CONFLICTS OF INTEREST INVOLVING A TRUSTEE, OFFICER, OR KEY EMPLOYEE AND MAY OVERRULE ANY DECISION OF THE AUDIT AND RISK MANAGEMENT COMMITTEE MAY REFER ANY CONFLICT OF ISSUE MATTER TO THE BOARD AT ANY TIME. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES OF WESTMINSTER UNIVERSITY IS RESPONSIBLE FOR THE COMPENSATION REVIEW AND APPROVAL PROCESS FOR OFFICERS AND KEY EMPLOYEES. REVIEW OF THE PRESIDENT. THE EXECUTIVE COMMITTEE IS RESPONSIBLE TO CONDUCT AN ANNUAL EVALUATION OF THE PRESIDENT, AND TO REVIEW AND MAKE RECOMMENDATIONS REGARDING THE TERMS OF CONTRACT WITH THE PRESIDENT, INCLUDING COMPENSATION. THE EXECUTIVE COMMITTEE WILL CONDUCT AN ANNUAL REVIEW OF THE PRESIDENTS COMPENSATION. CONCURRENT WITH THIS REVIEW, THE EXECUTIVE COMMITTEE SHALL EVALUATE AN ANNUAL REPORT OF THE PRESIDENT'S PERFORMANCE, PROVIDED BY THE PRESIDENT. IN FORMING A RECOMMENDATION REGARDING THE PRESIDENT'S COMPENSATION, THE EXECUTIVE COMMITTEE WILL RELY ON COMPARABILITY DATA OF THE COMPENSATION PAID TO PRESIDENTS BY SIMILAR INSTITUTIONS. THIS DATA MAY INCLUDE COMPENSATION STUDIES BY INDEPENDENT ORGANIZATIONS, WRITTEN JOB OFFERS FOR POSITIONS AT SIMILAR ORGANIZATIONS, AND INFORMATION OBTAINED FROM THE IRS FORM 990 FILINGS OF SIMILAR ORGANIZATIONS. THE EXECUTIVE COMMITTEE WILL FORWARD ITS RECOMMENDATION TO THE FULL BOARD OF TRUSTEES FOR APPROVAL OF THE PRESIDENTS COMPENSATION AND CONTRACT TERMS. REVIEW OF OTHER OFFICERS AND KEY EMPLOYEES. ON AN ANNUAL BASIS, THE PRESIDENT WILL PRESENT TO THE EXECUTIVE COMMITTEE HIS OR HER REPORT ON COMPENSATION FOR THE PROVOST, VICE PRESIDENTS, PRESIDENTS CABINET, AND ANY OTHER STAFF WHO REPORT DIRECTLY TO THE PRESIDENT, AND COVERED EMPLOYEES (COLLECTIVELY EXECUTIVE OFFICERS) INCLUDING COMPARABILITY DATA AND PERFORMANCE INFORMATION. THE EXECUTIVE COMMITTEE IS RESPONSIBLE TO OVERSEE THE COMPENSATION OF THE EXECUTIVE OFFICERS TO ENSURE COMPENSATION IS FAIR, EFFECTIVE, AND REASONABLE. DOCUMENTATION: THE EXECUTIVE COMMITTEE WILL TAKE AND KEEP MINUTES THAT DOCUMENT ITS REVIEW PROCESS AND HOW IT FORMED ITS RECOMMENDATIONS. THE MINUTES WILL INCLUDE THE FOLLOWING: 1. THE TERMS OF THE COMPENSATION AND CONTRACT TERMS AND THE DATE IT WAS RECOMMENDED; 2. THE MEMBERS OF THE BOARD OF TRUSTEES WHO WERE PRESENT DURING THE MEETINGS AND WHO VOTED ON THE RECOMMENDATION; AND 3. THE COMPARABILITY DATA OBTAINED AND REVIEWED AND THE SOURCE OF THE DATA. THE BOARD OF TRUSTEES WILL TAKE AND KEEP MINUTES THAT DOCUMENT ITS ACTIONS. THE MINUTES WILL INCLUDE THE FOLLOWING: 1. THE TERMS OF THE COMPENSATION AND CONTRACT TERMS; 2. THE DATE THE COMPENSATION AND CONTRACT TERMS WERE APPROVED; AND 3. THE MEMBERS OF THE BOARD OF TRUSTEES WHO WERE PRESENT DURING THE MEETING AND WHO VOTED ON THE APPROVAL. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FINANCIALS STATEMENTS AND GOVERNING DOCUMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: ACTUARIAL GAIN ON ANNUITY OBLIGATIONS 38,084. REMOVE BILL AND VIEVE GORE NET ASSETS REPORTED ON SEPARATE RETURN -14,625,760. FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT AND SELECTION OF AN INDEPENDENT ACCOUNTANT HAS NOT CHANGED FROM THE PRIOR YEAR. BILL AND VIEVE GORE ENDOWMENT FUND 1840 SOUTH 1300 EAST SALT LAKE CITY UT 84105 876213067 ENDOWMENT EARNINGS TO WESTMINSTER UNIVERSITY UT 501(C)(3) LINE 12A, I 0 WESTMINSTER SUPPORT FOUNDATION INC 595 S RIVERWOODS PKWY STE 400 LOGAN UT 84321 464875631 PROVIDE FINANCIAL SUPPORT TO WESTMINSTER UNIVERSITY UT 501(C)(3) LINE 12A, I 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0