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Nonprofiteer
← SOUTHERN METHODIST UNIVERSITY

Form 990 for tax year 2023

Filed by SOUTHERN METHODIST UNIVERSITY.

Totals

Total revenue
$1,148,707,746
Total expenses
$989,836,695
Contributions and grants received
$270,352,292
Grants paid
$242,124,595
Program service revenue
$775,567,487
Investment income
$94,738,888
Other revenue
$8,049,079
Total assets, end of year
$4,478,544,364
Total liabilities, end of year
$836,852,358
Net assets or fund balances, end of year
$3,641,692,006
Program services expenses (Part IX)
$880,085,670
Management and general expenses
$85,009,648
Fundraising expenses
$24,741,377
Program service expenses (Part III)
$880,085,671

Program services were 88.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Listed in Part VII

  • Robert G Turner

    President/Trustee

    Total calculated
    $2,042,586
    From this org
    $1,833,395
    From related orgs
    $0
    Other
    $209,191
    Hours/week
    36.5 + 1 related

    Schedule J breakdown matched by us

    Base
    $1,109,130
    Bonus
    $411,782
    Other
    $312,483
    Deferred
    $187,315
    Nontaxable benefits
    $21,876
    Filer's total
    $2,042,586

  • Alley B Alley

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Antoine LV Dijkstra

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Antonio O Garza Jr

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Bobby B Lyle

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Caren H Prothro

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Carl Sewell

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Clark K Hunt

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Connie O'Neill

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Cynthia Fierro Harvey

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • David B Miller

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • David S Huntley

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Douglas Smellage

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Frances A Moody-Dahlberg

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Frederick B Hegi Jr

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Gary T Crum

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Gerald J Ford

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Jackson Overton

    Trustee - Student

    Total calculated
    $0
    Hours/week
    1

  • Jeanne L Phillips

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Jeanne Tower Cox

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Juan Antonio Moreno

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Katherine Crow

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Kelly H Compton

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Laura Welch Bush

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Michael Boone

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Michael McKee

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Paul B Loyd Jr

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Paul L Rasmussen

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Ray L Hunt

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Richard K Templeton

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Richard Ware

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Richie L Butler

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Robert Frank

    Trustee - Faculty

    Total calculated
    $0
    Hours/week
    37.5

  • Robert H Dedman Jr

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Royce E Wilson Sr

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Ruth S Altshuler

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Sarah Perot

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Scott J Jones

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Scott McLean

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Sheron Patterson

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Tucker S Bridwell

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • William Armstrong

    Trustee

    Total calculated
    $0
    Hours/week
    1

  • Abby Herrera

    Trustee - Student

    Total calculated
    $5,748
    From this org
    $5,748
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

  • Robert Michael Harris

    Trustee - Faculty

    Total calculated
    $171,552
    From this org
    $155,251
    From related orgs
    $0
    Other
    $16,301
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $131,190
    Bonus
    $23,792
    Other
    $269
    Deferred
    $13,268
    Nontaxable benefits
    $3,033
    Filer's total
    $171,552

  • Brad Cheves

    V.P. for Development, Alumni Relations and Public Affairs

    Total calculated
    $980,908
    From this org
    $716,523
    From related orgs
    $0
    Other
    $264,385
    Hours/week
    37.5 + 5 related

    Schedule J breakdown matched by us

    Base
    $587,015
    Bonus
    $91,000
    Other
    $38,508
    Deferred
    $172,658
    Nontaxable benefits
    $91,727
    Filer's total
    $980,908

  • Christine Regis

    V.P. for Business and Finance

    Total calculated
    $792,191
    From this org
    $706,629
    From related orgs
    $0
    Other
    $85,562
    Hours/week
    36.5 + 5 related

    Schedule J breakdown matched by us

    Base
    $617,806
    Bonus
    $75,000
    Other
    $13,823
    Deferred
    $63,943
    Nontaxable benefits
    $21,619
    Filer's total
    $792,191

  • Donna M Morrow

    Associate University Secretary

    Total calculated
    $238,538
    From this org
    $201,984
    From related orgs
    $0
    Other
    $36,554
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $198,658
    Bonus
    $2,000
    Other
    $1,326
    Deferred
    $20,467
    Nontaxable benefits
    $16,087
    Filer's total
    $238,538

  • Elizabeth Loboa

    Provost and Vice President for Academic Affairs

    Total calculated
    $986,588
    From this org
    $733,254
    From related orgs
    $0
    Other
    $253,334
    Hours/week
    36.5 + 1 related

    Schedule J breakdown matched by us

    Base
    $638,293
    Bonus
    $75,000
    Other
    $19,961
    Deferred
    $133,000
    Nontaxable benefits
    $120,334
    Filer's total
    $986,588

  • Harold Stanley

    VP Executive Affairs

    Total calculated
    $500,526
    From this org
    $444,533
    From related orgs
    $0
    Other
    $55,993
    Hours/week
    36.5 + 3 related

    Schedule J breakdown matched by us

    Base
    $377,848
    Bonus
    $50,000
    Other
    $16,685
    Deferred
    $33,000
    Nontaxable benefits
    $22,993
    Filer's total
    $500,526

  • Kenechukwu Mmeje

    V.P. for Student Affairs

    Total calculated
    $750,474
    From this org
    $625,896
    From related orgs
    $0
    Other
    $124,578
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $430,172
    Bonus
    $181,500
    Other
    $14,224
    Deferred
    $91,630
    Nontaxable benefits
    $32,948
    Filer's total
    $750,474

  • Mary Anne Rogers

    Assistant Secretary

    Total calculated
    $0
    Hours/week
    37.5

  • Paul Ward

    V.P. for Legal Affairs and Secretary

    Total calculated
    $743,616
    From this org
    $655,264
    From related orgs
    $0
    Other
    $88,352
    Hours/week
    36.5 + 6 related

    Schedule J breakdown matched by us

    Base
    $563,849
    Bonus
    $75,000
    Other
    $16,415
    Deferred
    $63,943
    Nontaxable benefits
    $24,409
    Filer's total
    $743,616

  • Rakesh Dahiya

    Chief Investment Officer

    Total calculated
    $920,007
    From this org
    $715,417
    From related orgs
    $0
    Other
    $204,590
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $570,973
    Bonus
    $131,790
    Other
    $12,654
    Deferred
    $33,000
    Nontaxable benefits
    $171,590
    Filer's total
    $920,007

  • Matthew Myers

    Dean Key Employee

    Total calculated
    $779,159
    From this org
    $590,368
    From related orgs
    $0
    Other
    $188,791
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $540,769
    Bonus
    $20,000
    Other
    $29,599
    Deferred
    $33,000
    Nontaxable benefits
    $155,791
    Filer's total
    $779,159

  • Thomas DiPiero

    Dean Key Employee

    Total calculated
    $485,239
    From this org
    $438,690
    From related orgs
    $0
    Other
    $46,549
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $408,420
    Bonus
    $16,500
    Other
    $13,770
    Deferred
    $33,000
    Nontaxable benefits
    $13,549
    Filer's total
    $485,239

  • Rick Hart

    Athletic Director

    Total calculated
    $1,083,657
    From this org
    $948,570
    From related orgs
    $0
    Other
    $135,087
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $806,495
    Bonus
    $120,000
    Other
    $22,075
    Deferred
    $33,000
    Nontaxable benefits
    $102,087
    Filer's total
    $1,083,657

  • Robert Lanier

    Head Basketball Coach -Current

    Total calculated
    $3,275,482
    From this org
    $3,070,721
    From related orgs
    $0
    Other
    $204,761
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $490,565
    Bonus
    $2,555,556
    Other
    $24,600
    Deferred
    $33,000
    Nontaxable benefits
    $171,761
    Filer's total
    $3,275,482

  • Thomas R Lashlee

    Head Football Coach

    Total calculated
    $2,470,818
    From this org
    $2,413,682
    From related orgs
    $0
    Other
    $57,136
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $447,137
    Bonus
    $1,950,000
    Other
    $16,545
    Deferred
    $26,400
    Nontaxable benefits
    $30,736
    Filer's total
    $2,470,818

  • William Maxwell

    Professor of Finance

    Total calculated
    $626,413
    From this org
    $588,903
    From related orgs
    $0
    Other
    $37,510
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $347,930
    Bonus
    $238,499
    Other
    $2,474
    Deferred
    $33,000
    Nontaxable benefits
    $4,510
    Filer's total
    $626,413

  • William Dillon

    Sr. Assoc Dean Business

    Total calculated
    $607,390
    From this org
    $545,485
    From related orgs
    $0
    Other
    $61,905
    Hours/week
    37.5

    Schedule J breakdown matched by us

    Base
    $380,051
    Bonus
    $160,480
    Other
    $4,954
    Deferred
    $33,000
    Nontaxable benefits
    $28,905
    Filer's total
    $607,390

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · First-class or charter travel
  • 1a · Travel for companions
  • 1a · Health or social club dues or initiation fees
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 4b · Supplemental nonqualified retirement plan
  • 5a · Pay contingent on this organization's revenues
  • 7 · Other non-fixed payments

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

Schedule J, Part I, Line 1a First-class or charter travel
Charter flight travel costs were incurred by Thomas R. Lashlee. First class/Business Class cost incurred by Robert Gerald Turner, Brad Cheves, Rakesh Dahiya, and Kenechukwu Mmeje. All travel reimbursements were for business purposes and were not considered taxable to the recipient.
Schedule J, Part I, Line 1a Travel for companions
The University's travel policy provides that expenses incurred by spouses are not reimbursable unless the spouse is traveling for a bona fide business purpose and the travel has been approved. Any exceptions to the policy require approval by the appropriate University officer. All spousal travel is processed under the provisions of the Tax Department's Spousal Travel policy which provides for evaluating the taxable component, if any, of the travel and the appropriate tax treatment and reporting. All spousal travel regarding President Turner also requires the review and approval of the Board of Trustees Audit Committee Chair. Appropriate approvals in accordance with policy are required prior to reimbursement. Spousal travel expenses were paid and were reported as taxable compensation for President Turner.
Schedule J, Part I, Line 1a Health or social club dues or initiation fees
There is a policy regarding review/approval of social club dues. The University has established a reporting period of November 1 through October 31 for reporting personal use of a club and calculating the personal portion of dues that should be reported as taxable income. Any personal charges at social clubs are reimbursed to the University when the billing is received, prior to payment. The employees who had personal amounts reported as taxable compensation related to social club dues are R Gerald Turner, Elizabeth Loboa, Brad Cheves, Matthew Myers, Rick Hart , Rhett Lashlee and Robert Lanier.
Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan
To aid in retaining key employees, a non-qualified retention bonus plan is available to certain officers and key employees. Each year the plan provides dollar amounts, which is a flat annual amount per the participant's employment contract. Vested amounts are paid to participants as regular taxable income. The timing of the vested benefits varies by participant in the plan.
Schedule J, Part I, Line 5a Compensation contingent on revenues of the organization
Compensation contingent upon revenues of Organization. There is one person listed on Form 990, Part VII, who received an incentive compensation. The eligibility for and the amount of payment is determined by two components: A quantitative measure of the performance of the University's Investment Pool against an appropriate benchmark and a qualitative measure based on factors such as risk mitigation, quality of decision making and contributions to advancement of the endowment.
Schedule J, Part I, Line 7 Non-fixed payments
In order to recruit and retain key talent, Southern Methodist University offers short- and long-term incentive plans for certain employees listed in Part VII, Section A, Line 1a. For fiscal year 2024 the incentive plans were targeted in the areas of financial performance, athletic performance, academic excellence, and employee and student satisfaction.
Schedule J, Part II, Column (D)
Tuition waivers granted on the same basis as to any other benefit-eligible employee are reported on Part II column D

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • Charitable Remainder Trust (7)

    Trust · Trust · TX · controlled entity

    Directly controlled by Southern Methodist University

  • CSBRE Fund LLC

    C Corporation · Investments · TX · 100% owned · controlled entity

    Directly controlled by SOUTHERN METHODIST UNIVERSITY

Provenance

Return type
form_990
Tax year
2023
Filed
10 April 2025
IRS schema version
2023v6.0
Source object
202501009349301230

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