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Why does SMU hide its financial information?

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Why does SMU hide its financial information?

Postby AfricanMustang » Tue May 17, 2016 8:27 pm

After initially having trouble finding SMU’s audited financial statements from recent years, I just assumed that private universities don’t release them.

I was wrong.

Most of SMU’s aspirational schools—like Vanderbilt University, Emory University, Wake Forest University, and the University of Notre Dame—publicized audited financial information on their websites dating back at least five years. Vanderbilt publishes financial reports dating back 16 years. All of these schools publish the information in easy-to-find places on their websites.

Nowhere on SMU’s website does such a page exist. I sent an email to Kent Best, executive director for news and communication, to find out why the information is not published. In Best’s response, he said “the 2015 financial information is posted” and sent me a link to it ([url]see here[/url]).

I was wrong again. The information is technically published on the internet. But the only way to view the information is via the direct link—I challenge anyone to find the same financial report by simply navigating SMU’s website. Without the direct links, I could at least find the 2014 and 2013 reports by googling “SMU audited financial statements.”

http://www.smudailycampus.com/news/why- ... nformation
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Re: Why does SMU hide its financial information?

Postby One Trick Pony » Tue May 17, 2016 8:29 pm

Why is it important to you
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Re: Why does SMU hide its financial information?

Postby AfricanMustang » Tue May 17, 2016 8:32 pm

One Trick Pony wrote:Why is it important to you


Me? Why do you think so?
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Re: Why does SMU hide its financial information?

Postby One Trick Pony » Tue May 17, 2016 9:26 pm

I have no idea
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Re: Why does SMU hide its financial information?

Postby gostangs » Tue May 17, 2016 9:45 pm

Why would a private institution publish their financials if they don't have to? That just seems stupid. There is no upside for SMU in doing that.
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Re: Why does SMU hide its financial information?

Postby East Coast Mustang » Tue May 17, 2016 9:57 pm

Probably for the same reason I hide my financial information every April 15
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Re: Why does SMU hide its financial information?

Postby One Trick Pony » Wed May 18, 2016 2:20 pm

I thought someone was laying down their shiny black AMEX card

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Thinking I may qualify for the beige card
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Re: Why does SMU hide its financial information?

Postby EastStang » Thu May 19, 2016 12:32 pm

As a public charity, the University's tax returns are available on-line at [url]www.guidestar.org
[/url]
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Re: Why does SMU hide its financial information?

Postby One Trick Pony » Thu May 19, 2016 1:07 pm

I need to pick up some more government cheese.
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Re: Why does SMU hide its financial information?

Postby Digetydog » Thu May 19, 2016 6:21 pm

AfricanMustang wrote:After initially having trouble finding SMU’s audited financial statements from recent years, I just assumed that private universities don’t release them.

I was wrong.

Most of SMU’s aspirational schools—like Vanderbilt University, Emory University, Wake Forest University, and the University of Notre Dame—publicized audited financial information on their websites dating back at least five years. Vanderbilt publishes financial reports dating back 16 years. All of these schools publish the information in easy-to-find places on their websites.

Nowhere on SMU’s website does such a page exist. I sent an email to Kent Best, executive director for news and communication, to find out why the information is not published. In Best’s response, he said “the 2015 financial information is posted” and sent me a link to it ([url]see here[/url]).

I was wrong again. The information is technically published on the internet. But the only way to view the information is via the direct link—I challenge anyone to find the same financial report by simply navigating SMU’s website. Without the direct links, I could at least find the 2014 and 2013 reports by googling “SMU audited financial statements.”

http://www.smudailycampus.com/news/why- ... nformation


You might want to take a class in research.

- It took me 5 seconds to find the 2013 & 14 statements on the Internet.
- It took me 1 minute to find the 2014-5 Annual Report on the Internet. https://issuu.com/smudallas/docs/smu_an ... 8/31137201. It has a summary of the Audited Financial Results.

If I really cared, I could look up the report filed by the school with tax authorities. It might take an hour to find what I needed.
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Re: Why does SMU hide its financial information?

Postby smupony94 » Thu May 19, 2016 6:36 pm

Digety maybe you can help me find some "research" material on the internet
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Re: Why does SMU hide its financial information?

Postby One Trick Pony » Thu May 19, 2016 6:42 pm

smupony94 wrote:Digety maybe you can help me find some "research" material on the internet

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Re: Why does SMU hide its financial information?

Postby AfricanMustang » Thu May 19, 2016 7:05 pm

Digetydog wrote:
AfricanMustang wrote:After initially having trouble finding SMU’s audited financial statements from recent years, I just assumed that private universities don’t release them.

I was wrong.

Most of SMU’s aspirational schools—like Vanderbilt University, Emory University, Wake Forest University, and the University of Notre Dame—publicized audited financial information on their websites dating back at least five years. Vanderbilt publishes financial reports dating back 16 years. All of these schools publish the information in easy-to-find places on their websites.

Nowhere on SMU’s website does such a page exist. I sent an email to Kent Best, executive director for news and communication, to find out why the information is not published. In Best’s response, he said “the 2015 financial information is posted” and sent me a link to it ([url]see here[/url]).

I was wrong again. The information is technically published on the internet. But the only way to view the information is via the direct link—I challenge anyone to find the same financial report by simply navigating SMU’s website. Without the direct links, I could at least find the 2014 and 2013 reports by googling “SMU audited financial statements.”

http://www.smudailycampus.com/news/why- ... nformation


You might want to take a class in research.

- It took me 5 seconds to find the 2013 & 14 statements on the Internet.
- It took me 1 minute to find the 2014-5 Annual Report on the Internet. https://issuu.com/smudallas/docs/smu_an ... 8/31137201. It has a summary of the Audited Financial Results.

If I really cared, I could look up the report filed by the school with tax authorities. It might take an hour to find what I needed.


Hi Digety,

Good evening!

I think you missed the original author's (Chris Warley) point. Did you read the whole article in the DC link? There is no telling from the Annual Report whether those are audited statements or not. If you do read, the DC article, and click on the link to the audited reports, then you that particular report is audited and it includes the independent auditor's (KPMG) report.
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Re: Why does SMU hide its financial information?

Postby Digetydog » Thu May 19, 2016 7:51 pm

AfricanMustang wrote:
Digetydog wrote:
AfricanMustang wrote:After initially having trouble finding SMU’s audited financial statements from recent years, I just assumed that private universities don’t release them.

I was wrong.

Most of SMU’s aspirational schools—like Vanderbilt University, Emory University, Wake Forest University, and the University of Notre Dame—publicized audited financial information on their websites dating back at least five years. Vanderbilt publishes financial reports dating back 16 years. All of these schools publish the information in easy-to-find places on their websites.

Nowhere on SMU’s website does such a page exist. I sent an email to Kent Best, executive director for news and communication, to find out why the information is not published. In Best’s response, he said “the 2015 financial information is posted” and sent me a link to it ([url]see here[/url]).

I was wrong again. The information is technically published on the internet. But the only way to view the information is via the direct link—I challenge anyone to find the same financial report by simply navigating SMU’s website. Without the direct links, I could at least find the 2014 and 2013 reports by googling “SMU audited financial statements.”

http://www.smudailycampus.com/news/why- ... nformation


You might want to take a class in research.

- It took me 5 seconds to find the 2013 & 14 statements on the Internet.
- It took me 1 minute to find the 2014-5 Annual Report on the Internet. https://issuu.com/smudallas/docs/smu_an ... 8/31137201. It has a summary of the Audited Financial Results.

If I really cared, I could look up the report filed by the school with tax authorities. It might take an hour to find what I needed.


Hi Digety,

Good evening!

I think you missed the original author's (Chris Warley) point. Did you read the whole article in the DC link? There is no telling from the Annual Report whether those are audited statements or not. If you do read, the DC article, and click on the link to the audited reports, then you that particular report is audited and it includes the independent auditor's (KPMG) report.


He is simply wrong. The Consolidated Financial statement in the Annual Report explicitly states that it uses the audited statements for its data.

While it is "possible" thar SMU could lie (they don't have to file with the SEC) on the annual report, any false statements could potentially expose our leaders to criminal/civil liability because -> fraud -> the Annual Report is used for fundraising. Since a number of people/entities (big donors/govt/ratings agencies/etc.) have the actual audited financial reports, there is a zero point zero chance they lied.

Again, if the author really wanted more detailed information, SMU is required to file very detailed reports with the government.

Btw - those required tax filings are how/why people are questioning the Clinton's use of their Foundation to benefit cronies.
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Re: Why does SMU hide its financial information?

Postby One Trick Pony » Fri May 20, 2016 1:01 am

They mail me the annual report every year i toss it.
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