2024-12-03T14:39:00+00:00 2024-05-31 363990892 Capin Crouse LLP 2435 Research Parkway Suite 200 Colorado Springs CO 80920 990 2023-06-01 237424724 University of the Southwest Foundation UNIV 5753926561 6610 North Lovington Hwy 510 Hobbs NM 88240 Dr Ryan Tipton CEO 5753926561 2024-12-03 true Ashley Peabody P01385870 5055022746 2024-12-03 2023 2024-10-15 13:58:12Z Dr Ryan Tipton 6610 North Lovington Hwy 510 Hobbs NM 88240 3239837 false X www.usw.edu X 1974 NM To support the mission and operations of University of the Southwest. 9 8 0 8 0 0 583807 1445425 0 416446 1003404 911129 617694 1911382 3066523 364714 523361 0 0 0 0 2611 0 367325 523361 1544057 2543162 15871164 20411212 0 0 15871164 20411212 To support the mission and operations of University of the Southwest, a Christ-centered educational community dedicated to developing men and women for a lifetime of servant leadership by emphasizing faith, responsibility and initiative. false false 523361 523361 Support the mission and operation of University of the Southwest by providing funds for scholarships and operations. 523361 true true false false false false false false true false true false false false false false true false false false false false false false false false true false true false false false false false false false false false false false false false true false false false true 0 0 0 false false false false false false false false false false false false X 9 8 true false false false false false true true true false false true true true true true true false false X Paula Smith 5753926561 6610 North Lovington Hwy Suite 510 Hobbs NM 88240 Dr Ryan Tipton CEO 1.0 40.0 X X 0 247900 12628 Larry Gandy Vice-Chair 1.0 X X 0 0 0 Michael Pearson Chair 1.0 X X 0 0 0 Summer North Wright Secretary 1.0 X X 0 0 0 Lee Roberson Board Member 1.0 1.0 X 0 0 0 Lisa Hardison Board Member 1.0 X 0 0 0 R Finn Smith Board Member 1.0 X 0 0 0 Randy Hobbs Board Member 1.0 X 0 0 0 Samuel S Spencer Jr Board member 1.0 1.0 X 0 0 0 Paula Smith Treasurer 1.0 40.0 X 0 143702 14478 0 391602 27106 0 false true false 0 400000 1045425 1445425 0 0 0 0 0 301174 301174 617694 617694 0 0 875544 173314 702230 0 702230 702230 0 0 0 0 0 3066523 0 0 1621098 523361 523361 0 0 0 0 0 0 0 0 523361 523361 0 0 226704 105834 105340 90851 0 0 0 0 0 0 0 0 12637686 17586451 2392627 2628076 0 508807 0 15871164 20411212 0 0 0 0 0 0 X 12619604 15511642 3251560 4899570 15871164 20411212 15871164 20411212 X 2543162 1761437 235449 X false true X true false X X 1 University of the Southwest 850164940 2 true 523361 0 1 523361 0 true false false false false false false false false false false false false false false true true true X true true Schedule A, Part IV, Section D, Line 3 Supp. Org. Have Significant Voice In Investment Policies Shared board members with the supported organization and the President of the supported organization serves as a voting member of the Investment Committee. Schedule A, Part IV, Section E, Line 2a Org. Activities Directly Further The Exempt Purposes The organization's exempt program expenses are paid to directly support the mission and operation of the University of the Southwest (USW), supported organization listed on Schedule A, Part I and Schedule R, by providing funds for USW scholarships and USW operations. USW employs a Scholarship Coordinator who ensures the terms of the scholarship endowments held at USW Foundation are maintained and that scholarship recipients are selected according to those terms. The USW President works with the USW Scholarship Coordinator to review and approve suggested scholarship recipients. Certain endowments require USW faculty participation or Dean participation in selecting scholarship recipients. The USW Executive Vice President/CFO ("CFO") reviews and approves disbursements for student scholarships and USW operating grants. The CFO calculates annual operating grants to USW based on historical investment income, and the operating grant distributions are presented to the USW Foundation board in January each year for approval. Additionally, two members of the USW Board, the USW President, and USW CFO serve as members of the Foundation board. This creates a close continuous relationship between the organizations and helps ensure that the Foundation maintains responsiveness to USW. Schedule A, Part IV, Section E, Line 2b Activities That One Or More Supp. Org. Engaged In If the Foundation was not involved in the activities described in the narrative above for Schedule A, Part IV, Section E, Line 2a, then University of the Southwest, a supported organization, would have engaged in those activities. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12969731 1445424 1430862 523361 0 15322656 10733993 75000 2528065 364714 2613 12969731 11571695 58552 -541064 350221 4969 10733993 8770392 801340 2319374 313573 5838 11571695 8529780 1003 816628 571785 5234 8770392 0.65 0.35 0.0 false false Nonworking interest in oil and gas rights 2628076 F 2628076 5063408 1761436 0 1761436 3301972 -235449 -235449 3066523 523361 0 0 523361 0 0 523361 Schedule D, Part V, Line 4 Intended uses of endowment funds The earnings from the endowments of the University of the Southwest Foundation are distributed to University of the Southwest to be used to fund scholarships and operations in accordance with the intent of the donor. Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Change in FMV of oil and gas assets - -235449 true University of the Southwest 6610 N Lovington Hwy Suite 510 Hobbs NM 88240 850164940 501(C)(3) 523361 Operations support and fund University scholarships 1 0 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. The financial records of both USW and USW Foundation are managed at the same location. false false false false false false false false false Dr Ryan Tipton CEO 0 247900 0 0 0 0 0 0 0 12628 0 260528 0 0 Paula Smith Treasurer 0 143702 0 0 0 0 0 0 0 14478 0 158180 0 0 Form 990, Part VI, Line 15 Officer Compensation The organization does not compensate any officers . Therefore, these lines were answered no in accordance with the instructions. Form 990, Part VI, Line 2 Family/business relationships amongst interested persons Paula Smith and R. Finn Smith - Family relationship, Paula Smith, R. Finn Smith, Samuel S. Spencer and Michael Pearson - Business relationship Form 990, Part VI, Line 7b Decisions requiring approval by members or stockholders As described in Article IX of the Articles of Incorporation, if USW Foundation is dissolved, all property remaining after payment and discharge of its obligations shall be transferred to one or more other organizations that have been identified by the USW Foundation and USW Board of Directors upon consultation with and approval by the J.F Maddox Foundation Board of Directors. Form 990, Part VI, Line 11b Review of form 990 by governing body The Form 990 is prepared by an independent CPA firm and reviewed in detail by the CFO. The reviewed 990 is then reviewed by the audit and finance committee of the Board of Trustees. A copy of the completed Form 990 is provided to all members of the Board of Trustees prior to filing the return. Form 990, Part VI, Line 12c Conflict of interest policy Consistent with the organization's established conflict of interest policy, all trustees, directors, and officers self-disclose conflicts annually. The signed statements are reviewed by the CEO's administrator. In addition, as specified in the policy, trustees, directors, and officers recuse themselves and/or are recused from decisions relating to areas of possible or perceived conflicts. Form 990, Part VI, Line 19 Required documents available to the public The governing documents, conflict of interest policy, and financial statements are available upon request. Form 990, Part XI, Line 9 Other changes in net assets or fund balances Change in value of oil and gas rights - 235449; University of the Southwest 6610 North Lovington Hwy Suite 510 Hobbs NM 88240 850164940 School NM 501(c)(3) 2 NA false false true true true false false false false false false false false true true true false false false false