Why does SMU hide its financial information?

[AfricanMustang]

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 (see here).

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

[One Trick Pony]

Why is it important to you

[AfricanMustang]

Why is it important to you

Me? Why do you think so?

[One Trick Pony]

I have no idea

[gostangs]

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.

[East Coast Mustang]

Probably for the same reason I hide my financial information every April 15

[One Trick Pony]

I thought someone was laying down their shiny black AMEX card




Thinking I may qualify for the beige card

[EastStang]

As a public charity, the University's tax returns are available on-line at [url]www.guidestar.org
[/url]

[One Trick Pony]

I need to pick up some more government cheese.

[Digetydog]

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 (see here).

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.

[smupony94]

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

[One Trick Pony]

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

[AfricanMustang]

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 (see here).

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.

[Digetydog]

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 (see here).

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.

[One Trick Pony]

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