Compliance Certification Report

3.2.2.4
The legal authority and operating control of the institution are clearly defined for the following area within the institution's governance structure: related foundations (athletic, research, etc.) and other corporate entities whose primary purpose is to support the institution and/or its programs. (Governing Board Control)
√ Compliant
Partially Compliant
Non-Compliant
Narrative:
As an institution within the UT System, all endowments benefiting UTMB are held and administered by the UT System Board of Regents (1). Additionally, any endowments where the funds are held and administered by an external trustee, including a foundation, acceptance of the institution(s) interest is carried out by UT System. The Sealy & Smith Foundation (S&SF) was established as an endowment to support the John Sealy Hospital and its operations. The John Sealy Hospital is now one of UTMB’s hospitals (2). All funds granted by S&SF are accepted by the UT System Board of Regents on behalf of UTMB. Therefore, S&SF is considered a UT System endowment for the benefit of UTMB.
#
Source
1
Regents' Rules and Regulations, Series 60101, Acceptance and Administration of Gifts
http://www.utsystem.edu/bor/rules/60000Series/60101%202004%2012%2010%2001.pdf
2
Charter and Bylaws of the Sealy and Smith Foundation for the John Sealy Hospital
Hard copy located in the Office of Institutional Effectiveness