2024-05-13T09:09:00-05:00 2023-06-30 FORVIS LLP 1201 Walnut Suite 1700 Kansas City MO 641062246 990 2022-07-01 730579298 UNIVERSITY OF TULSA % MICHAEL D THESENVITZ UNIV 9186313244 800 S TUCKER DRIVE TULSA OK 74104 ERIC SCHICK CFO 9186313244 2024-05-15 true ERIC SCHICK XXX-XX-XXXX April Arnold P01559426 8162216300 2024-05-15 3 2022 2023-04-26 12:10:37Z BRAD CARSON 800 S TUCKER DRIVE TULSA OK 74104 414503031 false X WWW.UTULSA.EDU X 1894 OK SEE SCHEDULE O 25 24 2796 1757 362081 155425 70040682 58641468 206945196 213245155 68647486 29287829 1273213 607805 346906577 301782257 100518417 92138922 0 0 106677102 118512283 56672 0 4874280 79643406 100746139 286895597 311397344 60010980 -9615087 1631798445 1636061084 138671935 152627913 1493126510 1483433171 X SEE SCHEDULE O false false 259636241 92012655 189872815 INSTRUCTION - THE UNIVERSITY SERVED APPROXIMATELY 2,647 UNDERGRADUATE AND 1,122 GRADUATE STUDENTS IN FISCAL YEAR ENDING JUNE 30, 2023. THIS CATEGORY INCLUDES DIRECT INSTRUCTION COSTS AS WELL AS HOUSING, DINING, STUDENT SERVICES, ATHLETICS, AUXILIARY ACTIVITIES, AND STUDENT AID. IT ALSO INCLUDES THE PORTION OF PLANT MAINTENANCE RELATED TO EDUCATION ACTIVITIES. 6865580 112714 16768069 PUBLIC SERVICE - THIS ITEM INCLUDES 2 PUBLIC RADIO STATIONS, A SPEECH AND HEARING CLINIC, AND SEVERAL ACADEMIC JOURNALS. IT ALSO INCLUDES A PORTION OF PLANT MAINTENANCE RELATED TO PUBLIC SERVICE ACTIVITIES. 16529585 13554 6604271 RESEARCH - THE INSTITUTION RECEIVES GRANTS FROM FEDERAL, STATE, AND LOCAL AGENCIES AS WELL AS FROM THE PRIVATE SECTOR. THE MAJOR PORTION OF THE INSTITUTION'S RESEARCH IS IN THE FIELDS OF PETROLEUM AND CHEMICAL ENGINEERING. IT ALSO INCLUDES A PORTION OF PLANT AND MAINTENANCE RELATED TO RESEARCH ACTIVITIES. 283031407 true true false true false false false true false true true true false true true false false true true false true false false false true false false false true true true false false false false false false false false false false true true false false true true true false false false true 378 0 true 2796 true true true false false false false true true false false false false true false X 25 24 false false true false false false false true true false false true true true true true true true false false OK X MICHAEL D THESENVITZ 9186312583 800 S TUCKER DRIVE TULSA OK 74104 X PHILLIP MONTGOMERY FORMER HEAD FOOTBALL COACH 40.0 0.0 X 1474267 0 20120 ERIC KONKOL MENS HEAD BASKETBALL COACH 40.0 0.0 X 1249608 0 13299 BRAD CARSON PRESIDENT 40.0 1.0 X X 707206 0 35546 RICHARD DICKSON VP & DIRECTOR OF ATHLETICS 40.0 0.0 X 507920 0 13336 FRANK HAITH FORMER MENS BASKETBALL COACH 40.0 0.0 X 498673 0 5345 BARBARA ABERCROMBIE VP & CHIEF HUMAN RESOURCES 40.0 0.0 X 419586 0 6346 ERIC SCHICK CHIEF FINANCIAL OFFICER 40.0 1.0 X 377036 0 27640 LISA BENNETT CLINICAL ASST PROF NURSING 40.0 0.0 X 375636 0 17410 JANET LEVIT PROF/FORMER PRES & GEN COUNSEL 40.0 0.0 X 361965 0 9791 KAYLA HALE VP ADVANCEMENT & ALUMNI ENG 40.0 0.0 X 310655 0 9439 JENNIFER BENNETT CHIEF OF STAFF & TRANSFORM 40.0 0.0 X 252330 0 6041 MICHAEL D THESENVITZ ASSOCIATE VP AND CONTROLLER 40.0 0.0 X 190149 0 31068 GEORGE JUSTICE PROVOST & EXECUTIVE VP 40.0 0.0 X 200434 0 17534 CHERYL ANN DIXON GENERAL COUNSEL 40.0 0.0 X 142287 0 13823 CLIFTON L TAULBERT TRUSTEE 1.0 0.0 X 0 0 0 THOMAS COOPER TRUSTEE 1.0 0.0 X 0 0 0 MARCIA MOTT MACLEOD TRUSTEE/CHAIR 1.0 1.0 X X 0 0 0 JOHN FORREST MD TRUSTEE 1.0 0.0 X 0 0 0 DANA S WEBER TRUSTEE 1.0 0.0 X 0 0 0 ALBERT MYRES SR TRUSTEE 1.0 0.0 X 0 0 0 BYRON SANDERS TRUSTEE 1.0 0.0 X 0 0 0 ROBERT THOMAS JR TRUSTEE 1.0 0.0 X 0 0 0 ROBYN EWING TRUSTEE 1.0 0.0 X 0 0 0 JERRY R GEISLER III TRUSTEE 1.0 0.0 X 0 0 0 CAROL ADELSON TRUSTEE 1.0 0.0 X 0 0 0 DAVID CHARNEY TRUSTEE 1.0 0.0 X 0 0 0 DAVID HARRIS TRUSTEE 1.0 0.0 X 0 0 0 FRAUKE PETERSEN TRUSTEE 1.0 0.0 X 0 0 0 JANA SHOULDER TRUSTEE 1.0 0.0 X 0 0 0 JOHN WITTINGTON FRANKLIN TRUSTEE 1.0 0.0 X 0 0 0 MARK MARRA TRUSTEE 1.0 0.0 X 0 0 0 MICHAEL EPPS TRUSTEE 1.0 0.0 X 0 0 0 MIKE CASE TRUSTEE 1.0 0.0 X 0 0 0 PAULA KUYKENDALL TRUSTEE 1.0 0.0 X 0 0 0 RANDI WIGHTMAN TRUSTEE 1.0 0.0 X 0 0 0 SUZANNE WARREN TRUSTEE 1.0 0.0 X 0 0 0 TOMAS PORTER TRUSTEE 1.0 0.0 X 0 0 0 DANA KUEHN TRUSTEE 1.0 0.0 X 0 0 0 7067752 0 226738 211 true true false SODEXO INC AFFILIATES P O BOX 360170 PITTSBURGH PA 15251 DINING SERVICES 7235907 EAB GLOBAL INC DBA EAB 2445 M ST NW WASHINGTON DC 20037 CONSULTING 2617507 WITT FIALA FLANNERY ASSOC INC 2815 OLIVE STREET ST LOUIS MO 63103 GROUNDS & JANITORIAL 2157830 KLEINCO CONSTRUCTION LLC 1660 E 71ST STREET SUITE J TULSA OK 74136 CONSTRUCTION 1878542 ROARK LANDSCAPING CORPORATION PO BOX 200315 DALLAS TX 75320 GROUNDS 1767824 53 238384 929443 57473641 3699112 58641468 STUDENT TUITION & FEES 611710 151563884 151563884 AUXILLARY, ATHLETICS, HOUSING 611710 38308932 38308932 RESEARCH & SPONSORED PRODUCTS 611710 16768069 16768069 SALES OF EDUCATION DEPT 611710 4381521 4381521 _ 2222749 2222749 213245155 4119013 4119013 0 12482 12482 359304 77928 281376 0 281376 281376 137681501 98009894 14502791 39671607 -14502791 25168816 25168816 82027 238384 130161 -48134 -48134 0 0 0 0 0 0 Income from Investment K-1s 525990 362081 362081 362081 301782257 213245155 362081 29533553 0 92138922 92138922 0 0 3084883 917361 2167522 0 91793454 86059988 3336421 2397045 364639 330233 24331 10075 17580285 15704547 1363197 512541 5689022 5216102 329443 143477 0 304122 304122 240563 240563 0 0 2580659 2580659 26374218 21021669 4889599 462950 1890613 1886853 3560 200 25051821 22660830 1859658 531333 2364275 2364275 0 6750160 6280460 414597 55103 7108881 6886522 149547 72812 0 2767802 2233211 45325 489266 3059306 3059105 201 0 14299349 11238889 3060460 3188162 3188162 BAD DEBT EXPENSE 1508553 1508553 MEMBERSHIPS 2501621 1943966 358177 199478 EQUIPMENT RENTAL MAINTENANCE 756034 756034 - 0 311397344 283031407 23491657 4874280 9318943 26064112 0 0 17008023 15011841 12600882 10888726 0 0 0 0 2211460 2923670 228215 264603 4320236 5302076 645068185 287706725 344007560 357361460 156252560 134979136 470614372 465854562 4808932 5671340 0 0 610427262 611739558 1631798445 1636061084 21073494 22173836 3525359 2167255 8783924 6965452 96798322 82476268 0 0 0 0 50544 2599507 0 0 8440292 36245595 138671935 152627913 X 191578169 207843495 1301548341 1275589676 1493126510 1483433171 1631798445 1636061084 X -9615087 -35205977 35127725 X false true X true true true X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 311397344 316969701 311397344 316969701 1000000 428618 250000 107155 false 1000000 1000000 1000000 1000000 4000000 6000000 250000 250000 250000 250000 1000000 1500000 X false 649492645 8029096 3363695 30838529 2580659 627466248 670641074 12202860 -2359083 27191096 3801110 649492645 507020390 10101032 188445192 31621158 3304382 670641074 536383150 10198952 6803602 43544506 2820808 507020390 529570858 4108457 30258387 25216350 2338202 536383150 0.05600 0.94070 0.00330 true false 35038050 35038050 443969904 156816978 287152926 57908163 46175968 11732195 69216677 51191288 18025389 38935391 33522491 5412900 357361460 Hedge Funds 213628321 F Private Equity 252226241 F 465854562 Deposits with Bond Trustee 8224514 Funds Held in Trust by Others 599256577 OPERATING LEASE ASSETS 4258467 611739558 0 Deposits Payable 1832971 Operating Lease Liabilities 4248717 DUE TO RELATED PARTY 30163907 36245595 SCHEDULE D, PART III, LINE 1A BOOK COLLECTIONS AND OTHER ART ARE HELD IN THE UNIVERSITY'S SPECIAL COLLECTIONS HOUSED IN MCFARLIN LIBRARY. THESE ARE NOT FOR PUBLIC VIEWING BUT ARE HELD FOR SCHOLARLY RESEARCH. SCHEDULE D, PART III, LINE 4 THE COLLECTIONS ARE HELD IN THE MCFARLIN LIBRARY IN THE SPECIAL COLLECTIONS. THESE ARE NOT HELD FOR PUBLIC VIEWING BUT ARE USED EXCLUSIVELY FOR SCHOLARLY RESEARCH. SCHEDULE D, PART V, LINE 4 THE UNIVERSITY OF TULSA'S ENDOWMENT FUNDS ARE PRIMARILY USED FOR SCHOLARSHIPS, FACULTY POSITIONS, AND OTHER OPERATING PURPOSES. SCHEDULE D, PART X, LINE 2 MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. true true true true true true true false false false false false false false false true false true SCHEDULE E, PART I, LINE 3 THE UNIVERSITY OF TULSA PUBLISHES ITS EEO/AA STATEMENT ON ALL PUBLICATIONS, INCLUDING CLASS BULLETINS AND CLASS SCHEDULES AND ON ALL PRINT ADVERTISEMENTS. THE NONDISCRIMINATORY POLICY OF THE UNIVERSITY OF TULSA CAN BE FOUND ON THE HOMEPAGE OF THE WEBSITE. SCHEDULE E, PART I, LINE 6A THE UNIVERSITY OF TULSA PARTICIPATES IN STUDENT FINANCIAL ASSISTANCE PROGRAMS UNDER THE U.S. DEPARTMENT OF EDUCATION WHICH INCLUDE FEDERAL PELL GRANT, FEDERAL SUPPLEMENT EDUCATION OPPORTUNITY GRANT, FEDERAL WORK STUDY, FEDERAL DIRECT PLUS, AND FEDERAL DIRECT STUDENT LOAN PROGRAMS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 Program Services STUDY ABROAD 19115 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 Program Services STUDY ABROAD 288296 EAST ASIA AND THE PACIFIC 0 0 Program Services STUDY ABROAD 41080 Central America and the Caribbean 0 0 Investments 154002291 0 0 0 0 154350782 154350782 true false true true true false SCHEDULE F, PART I, LINE 3, COLUMN (F) THE ORGANIZATION USES THE ACCRUAL METHOD OF ACCOUNTING FOR THE INVESTMENTS AND STUDY ABROAD EXPENSES. OK WINE FESTIVAL 208908 126881 82027 1061 310 65387 KWGS 48797 48797 33420 1 62706 62706 29983 320411 238384 82027 1061 310 128790 130161 -48134 true UNIVERSITY SCHOLARSHIPS, FELLOWSHIPS, AND GRANTS 4757 92138922 SCHEDULE I, PART I, LINE 2 ALL GRANTS ARE FINANCIAL AID AND APPLIED DIRECTLY TO STUDENT ACCOUNTS. IT IS A CONTINUAL PROCESS IN WHICH WE AWARD STUDENT AID WITHIN FEDERAL GUIDELINES AT THE INITIAL AWARD PERIOD. IF CHANGES TO A STUDENT'S STATUS OCCUR, THE STUDENT'S AID PACKAGE COMPONENTS ARE REVIEWED TO ENSURE ANY/ALL ADJUSTMENTS MADE MAINTAIN COMPLIANCE WITH TITLE IV FUND RULES. OUR ASSISTANT DIRECTOR OF COMPLIANCE RUNS REPORTS, DAILY, WEEKLY, AND MONTHLY TO ENSURE COMPLIANCE. X true true X X X X X true false false false false false false false false MICHAEL D THESENVITZ ASSOCIATE VP AND CONTROLLER 188117 0 1000 0 1032 0 5000 0 26068 0 221217 0 0 0 KAYLA HALE VP ADVANCEMENT & ALUMNI ENG 309623 0 0 0 1032 0 7740 0 1699 0 320094 0 0 0 RICHARD DICKSON VP & DIRECTOR OF ATHLETICS 504872 0 0 0 3048 0 0 0 13336 0 521256 0 0 0 JANET LEVIT PROF/FORMER PRES & GEN COUNSEL 330417 0 4000 0 27548 0 7292 0 2499 0 371756 0 0 0 BRAD CARSON PRESIDENT 607706 0 80000 0 19500 0 12500 0 23046 0 742752 0 0 0 ERIC SCHICK CHIEF FINANCIAL OFFICER 320688 0 50000 0 6348 0 8535 0 19105 0 404676 0 0 0 JENNIFER BENNETT CHIEF OF STAFF & TRANSFORM 223746 0 0 0 28584 0 5208 0 833 0 258371 0 0 0 CHERYL ANN DIXON GENERAL COUNSEL 141509 0 0 0 778 0 3666 0 10157 0 156110 0 0 0 GEORGE JUSTICE PROVOST & EXECUTIVE VP 200434 0 0 0 0 0 8575 0 8959 0 217968 0 0 0 PHILLIP MONTGOMERY FORMER HEAD FOOTBALL COACH 1454828 0 1000 0 18439 0 0 0 20120 0 1494387 0 0 0 FRANK HAITH FORMER MENS BASKETBALL COACH 493666 0 0 0 5007 0 0 0 5345 0 504018 0 0 0 ERIC KONKOL MENS HEAD BASKETBALL COACH 1249608 0 0 0 0 0 0 0 13299 0 1262907 0 0 0 BARBARA ABERCROMBIE VP & CHIEF HUMAN RESOURCES 168898 0 0 0 250688 0 0 0 6346 0 425932 0 0 0 LISA BENNETT CLINICAL ASST PROF NURSING 153366 0 0 0 222270 0 0 0 17410 0 393046 0 0 0 SCHEDULE J, PART I, LINE 1A FRANK HAITH AND PHILLIP MONGOMERY, AS ATHLETIC COACHES, PARTICIPATE IN CHARTER TRAVEL WITH THEIR ATHLETIC TEAMS. THIS IS NOT TAXABLE IN THEIR FORM W-2 SINCE IT IS A REQUIREMENT OF THEIR POSITION. SCHEDULE J, PART I, LINE 4A THE FOLLOWING INDIVIDUAL RECEIVED A SEVERANCE PAYMENT DURING THE YEAR: BARBARA ABERCROMBIE $250,000 LISA BENNETT $222,000 A TULSA INDUSTRIAL AUTHORITY 731372018 89965QBC1 2013-11-20 32739855 SEE PART VI false false false B TULSA INDUSTRIAL AUTHORITY 731372018 89965QBV9 2015-11-19 28859991 SEE PART VI false false false C TULSA INDUSTRIAL AUTHORITY 731372018 899676MW7 2017-12-28 21336301 SEE PART VI false false false D TULSA INDUSTRIAL AUTHORITY 731372018 2019-08-22 27155000 SEE PART VI false false false A 8128000 0 32739855 2206862 0 0 532993 0 0 30000000 0 0 2015 false false true true B 7157000 0 28859991 1899700 0 0 499667 0 0 0 26460624 0 2015 false true true true C 6046000 0 21336301 2064810 0 0 413521 0 0 0 18857970 0 2017 true false true true D 3670000 0 27155000 0 0 0 383601 0 0 0 26771399 0 2019 true false true true A false false false false 0 false false false true B false false false false 0 false false false true C false false false false 0 false false false true D false false true true false 0.03280 0.03280 false false false true A false true false false 0 false 0 false true B false true false false 0 false 0 false true C false true false false 0 false 0 false true D false true false false 0 false 0 false true A true B true C true D true GROUP 1, PART I, ROW A, COLUMN (F) THE PROCEEDS FROM THESE BONDS WERE USED TO BUILD A STUDENT DORMITORY TO HOUSE APPROXIMATELY 330 STUDENTS. THE BONDS WERE ISSUED IN PARITY WITH THE 2006 SERIES BONDS AND THE 2013 SERIES BONDS MATURE OCTOBER 1 IN EACH OF THE YEARS 2033 AND 2038. GROUP 1, PART I, ROW B, COLUMN (F) THE PROCEEDS FROM THE 2017 SERIES BOND WERE USED TO ADVANCE REFUND $27,935,000 IN AGGREGATE PRINCIPAL AMOUNT OF THE 2006 SERIES BONDS MATURING OCTOBER 1, 2015 THROUGH 2037. GROUP 1, PART I, ROW C, COLUMN (F) THE PROCEEDS FROM THESE BONDS WERE USED TO ADVANCE REFUND $20,715,000 IN AGGREGATE PRINCIPAL AMOUNT OF THE 2006 SERIES BONDS MATURING OCTOBER 1, 2018 THROUGH 2031. GROUP 1, PART 1, ROW D, COLUMN (F) THE PROCEEDS FROM THESE BONDS WERE USED TO ADVANCE REFUND $27,155,000 IN AGGREGATE PRINCIPAL AMOUNT OF THE 2009 SERIES BONDS MATURING OCTOBER 1, 2019 THROUGH 2027. GROUP 1, PART IV, LINE 2C, COLUMN (A) DATE THE REBATE COMPUTATION WAS PERFORMED: 7/15/2021 GROUP 1, PART IV, LINE 2C, COLUMN (B) DATE THE REBATE COMPUTATION WAS PERFORMED: 7/15/2021 GROUP 1, PART IV, LINE 2C, COLUMN (C) DATE THE REBATE COMPUTATION WAS PERFORMED: 7/15/2021 GROUP 1, PART IV, LINE 2C, COLUMN (D) DATE THE REBATE COMPUTATION WAS PERFORMED: 7/15/2021 X 2 826 DONOR LETTER X 43 3515782 MEAN MARKET PRICE X 10 7893 DONOR LETTERS X MISC ITEMS 18 48719 APPRAISAL/DONOR/INV X EQUIPMENT 1 1550 DONOR LETTERS X RENTAL SPACE 1 124342 DONOR LETTERS 1 false true false SCHEDULE M, PART I, COLUMN B THE AMOUNTS IN THIS COLUMN REPRESENT THE NUMBER OF ITEMS RECEIVED. FORM 990, PART I, LINE 1 & PART III, LINE 1 The University of Tulsa is a student-centered research university that cultivates interconnected learning experiences to explore complex ideas and create new knowledge in a spirit of free inquiry. Guided by our commitment to diversity, equity, and service, we prepare individuals to make meaningful contributions to our campus, our community, AND our world. FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS OF THE UNIVERSITY WERE AMENDED TO REDUCE THE NUMBER OF TRUSTEES TO NO MORE THAN FIFTY. ALSO, A QUORUM WAS CHANGED FROM FORTY PERCENT OF THE VOTING TRUSTEES TO A MAJORITY OF THE VOTING TRUSTEES. THE BYLAWS WERE ALSO AMENDED TO NAME AND DESCRIBE THE DUTIES OF THE EXECUTIVE COMMITTEE. THERE WILL ALSO BE THE FOLLOWING STANDING COMMITTES: RESOURCES AND EFFICIENCIES COMMITTEE, ACADEMIC AFFAIRS COMMITTEE, STUDENT SUCCESS COMMITTEE, AUDIT AND RISK COMMITTEE, AND INVESTMENT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B THE DIRECTOR OF ACCOUNTING AND PAYROLL GATHERS THE FORM 990 INFORMATION AND PROVIDES IT TO AN INDEPENDENT CPA FIRM TO PREPARE AND REVIEW THE FORM 990. A DRAFT OF THE FORM 990 IS PROVIDED TO MANAGEMENT FOR REVIEW. ANY QUESTIONS OR CONCERNS ARE ADDRESSED. THE FORM 990 IS THEN PROVIDED TO THE BOARD OF TRUSTEES FOR THEIR REVIEW AND APPROVAL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C DISCLOSURE OF FINANCIAL INTERESTS: A TRUSTEE WHO HAS A KNOWN MATERIAL FINANCIAL INTEREST IN A PENDING OR PROPOSED TRANSACTION OR BUSINESS ARRANGEMENT INVOLVING THE UNIVERSITY SHALL PROMPTLY DISCLOSE TO THE BOARD THE EXISTENCE OF THE INTEREST AND OTHER MATERIAL INFORMATION THAT THE TRUSTEE MAY HAVE REGARDING THE TRANSACTION OR ARRANGEMENT. IN ADDITION, EACH TRUSTEE SHALL ANNUALLY SIGN AND SUBMIT TO THE SECRETARY OF THE BOARD A STATEMENT DISCLOSING ALL MATERIAL FINANCIAL INTERESTS, KNOWN TO THE TRUSTEE, OF THE TRUSTEE OR A FAMILY MEMBER, IN ANY OUTSIDE ENTITY WITH WHICH THE TRUSTEE KNOWS THE UNIVERSITY HAS OR IS CONSIDERING A TRANSACTION OR OTHER BUSINESS RELATIONSHIP, OR AFFIRMING THAT THE TRUSTEE KNOWS OF NO SUCH INTERESTS. DETERMINATION WHETHER CONFLICT OF INTEREST EXISTS: THE SECRETARY SHALL REVIEW ANNUAL DISCLOSURE STATEMENTS TO DETERMINE WHETHER A MATERIAL FINANCIAL INTEREST HAS BEEN DISCLOSED. IF A MATERIAL FINANCIAL INTEREST HAS BEEN DISCLOSED, THE SECRETARY SHALL PROMPTLY SUBMIT TO THE CHAIR OF THE BOARD'S AUDIT COMMITTEE OR, IF THE INTERESTS INVOLVE THE CHAIR OF THE AUDIT COMMITTEE, ANOTHER MEMBER OF THE AUDIT COMMITTEE, SUCH DISCLOSURE FORMS TOGETHER WITH ANY ADDITIONAL INFORMATION ABOUT THE CURRENT OR PROPOSED TRANSACTION OR BUSINESS RELATIONSHIP THAT MAY GIVE RISE TO A CONFLICT OF INTEREST THAT THE SECRETARY IN CONSULTATION WITH THE AUDIT COMMITTEE BELIEVES MAY BE INFORMATIVE. THE AUDIT COMMITTEE SHALL REVIEW THE MATTER AND DETERMINE WHETHER THERE IS A CONFLICT OF INTEREST. IF THE INTERESTS BEING REVIEWED INVOLVE A MEMBER OF THE AUDIT COMMITTEE, THE MEMBER SHALL NOT PARTICIPATE IN OR BE PRESENT DURING THE COMMITTEE'S CONSIDERATION OF THE MATTER EXCEPT AS REQUESTED BY THE COMMITTEE TO ANSWER QUESTIONS OR PROVIDE INFORMATION. THE AUDIT COMMITTEE MAY REVIEW SUCH INFORMATION AS IT DEEMS PERTINENT, INCLUDING POSING QUESTIONS TO THE INTERESTED TRUSTEE INVOLVED. IF THE AUDIT COMMITTEE DETERMINES THAT THERE IS A CONFLICT OF INTEREST, IT SHALL SO ADVISE THE INTERESTED TRUSTEE, WHO SHALL HAVE AN OPPORTUNITY TO ADDRESS THE MATTER WITH THE AUDIT COMMITTEE. IF THE AUDIT COMMITTEE OR THE TRUSTEE INVOLVED BELIEVES THAT TO DO SO IS INDICATED, THE MATTER MAY BE REFERRED TO THE BOARD. IF A CONFLICT OF INTEREST DETERMINATION IS REFERRED TO THE BOARD, EITHER FOLLOWING REVIEW BY THE AUDIT COMMITTEE OR IF DISCLOSURE IS MADE IN THE FIRST INSTANCE TO THE BOARD (FOR EXAMPLE, WHERE A TRUSTEE BECOMES AWARE OF A POSSIBLE CONFLICT OF INTEREST DURING OR JUST BEFORE A MEETING OF THE BOARD), UNLESS THE TRUSTEE ELECTS RECUSAL, THE BOARD SHALL DECIDE WHETHER A CONFLICT OF INTEREST EXISTS. THE BOARD MAY QUESTION THE INTERESTED TRUSTEE, AND THE TRUSTEE SHALL HAVE AN OPPORTUNITY TO ADDRESS TO THE BOARD WHETHER THERE IS A CONFLICT. THE INTERESTED TRUSTEE SHALL LEAVE THE BOARD MEETING WHILE THE DISINTERESTED MEMBERS OF THE BOARD DETERMINE, BY MAJORITY VOTE, WHETHER THE FINANCIAL INTEREST GIVES RISE TO A CONFLICT OF INTEREST. IF IT IS DETERMINED THAT NO CONFLICT OF INTEREST EXISTS, THE INTERESTED TRUSTEE MAY REJOIN THE MEETING AND PARTICIPATE FULLY IN THE DISCUSSION OF AND VOTE ON THE PROPOSED TRANSACTION OR ARRANGEMENT. CONSIDERATION OF MATTERS INVOLVING CONFLICT OF INTEREST: IF THE BOARD DETERMINES THAT A TRUSTEE HAS A CONFLICT OF INTEREST IN A MATTER BEFORE THE BOARD, THE BOARD MAY PERMIT THE INTERESTED TRUSTEE TO MAKE A PRESENTATION REGARDING THE MATTER, BUT THE INTERESTED TRUSTEE SHALL NOT PARTICIPATE IN THE DISCUSSION OF, AND THE VOTE ON, THE PROPOSED TRANSACTION OR ARRANGEMENT. THE BOARD SHALL APPROVE THE TRANSACTION OR ARRANGEMENT ONLY UPON A FINDING, BY A MAJORITY VOTE OF THE DISINTERESTED TRUSTEES, THAT THE TRANSACTION OR ARRANGEMENT IS IN THE UNIVERSITY'S BEST INTEREST, IS FOR THE UNIVERSITY'S BENEFIT, AND IS FAIR AND REASONABLE TO THE UNIVERSITY. THE BOARD MAY ENGAGE SUCH CONSULTANTS AS IT DEEMS NECESSARY OR USEFUL TO ASSIST ITS DETERMINATION OF THESE ISSUES. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION COMMITTEE OF THE BOARD REVIEWS ALL MULTI-YEAR CONTRACTS OF EMPLOYMENT AND ANY EMPLOYMENT OFFER FOR THE PRESIDENT. THE COMMITTEE COMPARES TO THE SALARY SURVEY PROVIDED BY INDEPENDENT OUTSIDE CONSULTANTS. THIS PROCESS IS CONDUCTED ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 THE UNIVERSITY POSTS ITS FINANCIAL STATEMENTS ON THE UNIVERSITY WEBSITE. PART XI, LINE 9 ENDOWMENT DISTRIBUTIONS OF REALIZED GAINS $33,672,847 ADJUSTMENT FOR UNRECOGNIZED POSTRETIREMENT COSTS 1,816,959 UNRELATED BUISNESS INCOME FROM INVESTMENT K-1S (362,081) -------------- TOTAL $35,127,725 FORM 990, PART XII, LINE 2 ON JULY 1, 2008, THE UNIVERSITY OF TULSA CONTRACTED WITH THE CITY OF TULSA TO MANAGE THE GILCREASE MUSEUM. THE GILCREASE MUSEUM MANAGEMENT TRUST WAS FORMED, APPLIED FOR AND WAS ACCEPTED AS AN EXEMPT 501(C)(3) ORGANIZATION BY THE INTERNAL REVENUE SERVICE ON 2/12/2008. THE UNIVERSITY OF TULSA REPORTS ITS FINANCIAL STATEMENTS ON A CONSOLIDATED BASIS THAT INCLUDES THE GILCREASE MUSEUM MANAGEMENT TRUST'S ACTIVITIES AS REQUIRED BY ACCOUNTING SERIES CODIFICATION 958-810-25. FOR IRS COMPLIANCE PURPOSES, THE UNIVERSITY OF TULSA'S FINANCIAL INFORMATION REPORT ON FORM 990 DOES NOT INCLUDE THE GILCREASE MUSEUM MANAGEMENT TRUST'S FINANCIAL INFORMATION. THE GILCREASE MUSEUM MANAGEMENT TRUST FILES FORM 990 SEPARATELY FROM THE UNIVERSITY OF TULSA. FORM 990, PART XII, LINE 2C THE ORGANIZATION'S AUDIT AND RISK MANAGEMENT COMMITTEE OF THE BOARD OF TRUSTEES IS CHARGED WITH THE FOLLOWING DUTIES: 1. RECOMMEND HIRING INDEPENDENT AUDITORS, COUNSEL, OR OTHER CONSULTANTS AS NECESSARY. 2. REVIEW WITH MANAGEMENT THE POLICIES AND PROCEDURES WITH RESPECT TO OFFICERS, KEY EMPLOYEES, DISQUALIFIED PERSONS, EXPENSES ACCOUNTS, AND PERKS, INCLUDING EXCESS BENEFIT TRANSACTIONS. 3. INQUIRE OF MANAGEMENT, THE INDEPENDENT AUDITORS, AND CHIEF FINANCIAL OFFICER ABOUT SIGNIFICANT RISKS OR EXPOSURES FACING THE ORGANIZATION; ASSESS THE STEPS MANAGEMENT HAS TAKEN OR PROPOSES TO TAKE TO MINIMIZE SUCH RISKS TO THE UNIVERSITY AND PERIODICALLY CONDUCT REVIEWS. 4. REVIEW WITH INDEPENDENT AUDITORS AND CHIEF FINANCIAL OFFICER THE ADEQUACY OF THE ORGANIZATION'S INTERNAL CONTROLS. 5. REVIEW WITH INDEPENDENT AUDITOR THE ANNUAL AUDIT OF THE UNIVERSITY AND ALL CRITICAL ACCOUNTING POLICIES AND PRACTICES USED BY THE UNIVERSITY. 6. REVIEW WRITTEN COMMUNICATIONS BETWEEN THE INDEPENDENT AUDITORS AND MANAGEMENT. 7. REVIEW WITH MANAGEMENT AND THE INDEPENDENT AUDITORS: A. THE UNIVERSITY'S ANNUAL FINANCIAL STATEMENTS AND RELATED FOOTNOTES. B. THE INDEPENDENT AUDITORS' AUDIT OF FINANCIAL STATEMENTS AND THEIR REPORT. C. ANY SIGNIFICANT CHANGES REQUIRED IN THE INDEPENDENT AUDITORS' AUDIT PLAN. D. THE UNIVERSITY'S FILING OF THE IRS FORM 990. 8. PERIODICALLY REVIEW THE ORGANIZATION'S CODE OF CONDUCT/ETHICS TO ENSURE THAT IT IS ADEQUATE AND UP-TO-DATE. 9. REVIEW PROCEDURES FOR THE CONFIDENTIAL, ANONYMOUS SUBMISSION BY EMPLOYEES REGARDING QUESTIONABLE ACCOUNTING OR AUDITING MATTERS. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEAR. THE GILCREASE MANAGEMENT TRUST 800 S TUCKER DRIVE TULSA OK 74104 262205415 MANAGEMENT OK 501(C)(3) 7 UNIV TULSA true false false false false false false false false false false false true true true true false false false false THE GILCREASE MUSEUM MANAGEM 800 SOUTH TUCKER DRIVE TULSA OK 74104 262205415 0 0 0 5572357 5572357 428618 107155 0 0 0