2024-11-14T12:07:04-06:00 2023-12-31 991856619 GRANT THORNTON ADVISORS LLC 1000 WILSON BOULEVARD SUITE 1500 ARLINGTON VA 22209 990 2023-01-01 237084339 GRADUATE MANAGEMENT ADMISSION COUNCIL GRAD 7036689600 11921 FREEDOM DRIVE 300 RESTON VA 20190 JOY JONES CHIEF EXECUTIVE OFFICER 7036689600 2024-11-14 1 0 MARY TORRETTA P00847851 7038477500 2023 2024-10-15 13:58:12Z JOY JONES 11921 FREEDOM DRIVE 300 RESTON VA 20190 96285268 0 X WWW.GMAC.COM X 1970 VA TO CREATE A WORLD WHERE EVERY PERSON CAN BENEFIT FROM THE BEST BUSINESS EDUCATION FOR THEM. 16 15 116 15 566503 258761 0 0 53628781 57533693 9342368 6101400 55457 105606 63026606 63740699 401430 561568 0 0 23695097 24905079 0 0 0 45532716 48480397 69629243 73947044 -6602637 -10206345 191283214 191084951 28596380 26509262 162686834 164575689 X THE MISSION OF GRADUATE MANAGEMENT ADMISSION COUNCIL (GMAC) IS TO PROVIDE THE TOOLS AND INFORMATION NECESSARY FOR SCHOOLS AND TALENT TO DISCOVER AND EVALUATE EACH OTHER (SEE SCHEDULE O).GMAC BELIEVES THE VALUES OF COURAGE, CREATIVITY, LISTENING, COLLABORATION AND INTEGRITY, BUILD LASTING CONNECTIONS WITHIN GMAC AND THE EDUCATION COMMUNITY, BOTH TODAY AND FOR THE FUTURE. 0 0 50432847 51336900 TEST OPERATIONS: GMAC IS COMMITTED TO PROVIDING TOOLS AND SOLUTIONS TO SCHOOLS AND CANDIDATES TO CONNECT WITH AND EVALUATE EACH OTHER SO THAT TALENT DOES NOT GO UNDISCOVERED. GRADUATE MANAGEMENT EDUCATION (GME) PROGRAMS EVALUATE GLOBAL APPLICANTS FROM DIVERSE EDUCATIONAL AND PROFESSIONAL BACKGROUNDS FOR ADMISSION TO MBA AND BUSINESS MASTER'S DEGREE PROGRAMS. THE GMAT (GRADUATE MANAGEMENT ADMISSION TEST), EA (EXECUTIVE ASSESSMENT), AND NMAT BY GMAC ASSESSMENTS ASSIST SCHOOLS IN EVALUATING CANDIDATE ACADEMIC SUCCESS LIKELIHOOD IN GRADUATE MANAGEMENT PROGRAMS ADMISSIONS. AS SUCH, GMAC'S PORTFOLIO OF PREMIER ASSESSMENTS IS RECOGNIZED AS TRUSTED, VALID PREDICTORS OF ACADEMIC SUCCESS FOR GRADUATE BUSINESS PROGRAMS. GMAC'S ASSESSMENTS ARE ACCEPTED BY MORE THAN 7,000 SCHOOLS GLOBALLY.(SEE SCHEDULE O)THE GMAT EXAM HAS BEEN TRUSTED BY SCHOOLS FOR OVER 60 YEARS AS A PROVEN AND RELIABLE MEASUREMENT IN ADMISSIONS. IN 2015, GMAC ACQUIRED THE NMAT EXAMINATION IN INDIA, RENAMED THE NMAT BY GMAC. IN 2016, GMAC LAUNCHED THE EXECUTIVE ASSESSMENT (EA) FOR EXECUTIVE GRADUATE MANAGEMENT PROGRAMS. MORE INFORMATION CAN BE FOUND AT HTTPS://WWW.GMAC.COM/GMAT-OTHER-ASSESSMENTS/ABOUT-OUR-OTHER-ASSESSMENTS. 3533003 561568 5630290 OTHER EDUCATIONAL SERVICES FOR SCHOOLS AND GME CANDIDATES: INCLUDING BUT NOT LIMITED TO, MBA.COM, GMAC.COM, PROFESSIONAL DEVELOPMENT AND EVENTS, AND DISCOVERY AND ENGAGEMENT SOLUTIONS.MBA.COM: GME CANDIDATES ARE PROVIDED A RICH PORTAL VIA WWW.MBA.COM, WHERE THEY CAN LEARN ABOUT THE BENEFITS OF GRADUATE MANAGEMENT EDUCATION AND HOW TO FURTHER THEIR CAREER JOURNEY. ON THE SITE, THERE ARE MYRIAD OPPORTUNITIES TO ASSIST THEM WITH PREPARING FOR THEIR APPLICATIONS, REGISTERING FOR EXAMS, CONNECTING WITH SCHOOLS AND ACCESSING FREE AND PAID TEST PREPARATION MATERIALS. (SEE SCHEDULE O)GMAC.COM: BUSINESS SCHOOL AND HIGHER EDUCATION PROFESSIONALS CAN ACCESS A WEALTH OF INFORMATION VIA GMAC.COM, INCLUDING MARKET INTELLIGENCE, INSIGHTS AND ANALYSIS, WHITE PAPERS, NEWS DIGESTS, NEWSLETTERS, ASSESSMENT RESOURCES, AND TOOLS TO HELP THEM SHARPEN THEIR SKILLS, BE ABREAST OF TRENDS AND TAP INTO INFORMATION AND SERVICES SPECIFICALLY FOR GME PROFESSIONALS.PROFESSIONAL DEVELOPMENT AND EVENTS: GMAC PROVIDES ESSENTIAL PROFESSIONAL LEARNING AND DEVELOPMENT OPPORTUNITIES FOR ADMISSIONS PROFESSIONALS AND OTHER BUSINESS SCHOOL LEADERS, INCLUDING CONVENING GLOBAL EDUCATION CONFERENCES, WORKSHOPS, TRAINING, SEMINARS, SCHOOL EVENTS, WEBINARS AND MORE, BOTH VIRTUAL AND IN-PERSON.DISCOVERY AND ENGAGEMENT SOLUTIONS: GMAC HELPS SCHOOLS REACH THE LARGEST QUALIFIED, GLOBAL CANDIDATE POOL INTERESTED IN PURSUING AN MBA OR BUSINESS MASTER'S DEGREE THROUGH DATA-DRIVEN MARKETING, TOURS AND CONTENT SERVICES. 1048502 RESEARCH: GMAC RESEARCH PROVIDES DATA-DRIVEN MARKET INTELLIGENCE AND INSIGHTS FOR THE GRADUATE MANAGEMENT EDUCATION COMMUNITY. AREAS OF FOCUS INCLUDE ANALYSIS OF GRADUATE MANAGEMENT CANDIDATE TEST TAKERS, APPLICATION TRENDS, CORPORATE RECRUITING OUTLOOKS, ALUMNI PERSPECTIVES, AND GLOBAL AND REGIONAL TRENDS IN AREAS OF PROGRAMS, DIVERSITY, TALENT MOBILITY, AND PSYCHOMETRIC VALIDITY. RESEARCH DIRECTLY SUPPORTS AND ENABLES GMAC MEMBER SCHOOLS AND THE GRADUATE MANAGEMENT EDUCATION COMMUNITY WITH INTERACTIVE AND CUSTOM REPORTS AND PROVIDES INSIGHTS THAT ENABLE TWO-WAY DISCOVERY BETWEEN SCHOOLS AND CANDIDATES. MORE INFORMATION CAN BE SEEN AT HTTPS://WWW.GMAC.COM/MARKET-INTELLIGENCE-AND-RESEARCH. 55014352 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 1 1 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 1 X 112 0 1 116 1 1 1 1 CH HK IN UK 0 0 0 0 0 0 0 0 0 0 X 16 15 0 0 0 0 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 0 X JENNIFER MARTIN 7036689600 11921 FREEDOM DRIVE STE 300 RESTON VA 20190 JOY JONES CHIEF PRODUCT OFFICER & GENERAL MGR. 40.00 0.00 X X 824671 0 51166 JON ERICKSON CHAIR (TO 7/1/23) 1.00 0.00 X X 0 0 0 THEMIN SUWARDY DIRECTOR (TO 7/1/23); CHAIR 1.00 0.00 X X 0 0 0 ISABELLE BAJEUX-BESNAINOU DIRECTOR 1.00 0.00 X 0 0 0 MARTIN BOEHM DIRECTOR 1.00 0.00 X 0 0 0 MUKESH BUTANI DIRECTOR 1.00 0.00 X 0 0 0 ITZIAR DE ROS DIRECTOR 1.00 0.00 X 0 0 0 BRUCE DELMONICO DIRECTOR 1.00 0.00 X 0 0 0 YUAN DING DIRECTOR 1.00 0.00 X 0 0 0 CATHERINE DUGGAN DIRECTOR 1.00 0.00 X 0 0 0 CURTIS FERGUSON DIRECTOR (FROM 7/1/23) 1.00 0.00 X 0 0 0 SANJIV KAPUR DIRECTOR 1.00 0.00 X 0 0 0 KATY MONTGOMERY DIRECTOR (TO 6/30/23) 1.00 0.00 X 0 0 0 JAY NIBBE DIRECTOR 1.00 0.00 X 0 0 0 FRANCOIS ORTALO-MAGNE DIRECTOR 1.00 0.00 X 0 0 0 ANA MARIA ZERMENO PADILLA DIRECTOR (FROM 7/1/23) 1.00 0.00 X 0 0 0 GIUSEPPE SODA DIRECTOR 1.00 0.00 X 0 0 0 ANTHONY WILBON DIRECTOR 1.00 0.00 X 0 0 0 ASHISH BHARDWAJ SR VP & HEAD, MARKET DEVELOPMENT 40.00 0.00 X 548700 0 51582 JENNIFER MARTIN CFO & HEAD, CORPORATE DEVELOPMENT 40.00 0.00 X 523741 0 44158 KEVIN LEFEW CHIEF TECHNOLOGY OFFICER 40.00 0.00 X 501071 0 26725 MAITE SALAZAR CHIEF MARKETING OFFICER (TO 4/24/23) 40.00 0.00 X 242492 0 15109 ADAM WITWER CHIEF PRODUCT OFFICER (FROM 6/19/23) 40.00 0.00 X 171741 0 19056 SARAH BENNETT CHIEF MARKETING OFC. (FROM 6/15/23) 40.00 0.00 X 162341 0 23864 ASHOK SARATHY VP, PRODUCT MANAGEMENT OPERATIONS 40.00 0.00 X 435894 0 48281 ROBIN EVERETT VP, LEGAL 40.00 0.00 X 424843 0 49440 SABRINA WHITE VP, SCHOOL & INDUSTRY ENGAGEMENT 40.00 0.00 X 442425 0 25717 KYUNGTYEK HAN SR DIR, PSYCHOMETRICIAN 40.00 0.00 X 261532 0 40581 ELAINE ALBERS SR DIR, PRODUCT MANAGEMENT 40.00 0.00 X 259604 0 24205 DAVID EELMAN SR DIR, GLOBAL CONTROLLER 40.00 0.00 X 252366 0 24369 SANGEET CHOWFLA FORMER SR ADVISOR TO BOARD 40.00 0.00 X 748417 0 5004 5799838 0 449257 80 1 1 0 THE XELA GROUP 1818 LIBRARY STREET STE 500 RESTON VA 20190 TECHNOLOGY CONSULTING 471756 THE HANOVER RESEARCH COUNCIL LLC 4401 WILSON BLVD 9TH FL ARLINGTON VA 22203 MARKET RESEARCH 323839 NOOQLEO 12058 CHEVIOT DRIVE HERNDON VA 20170 MARKETING AND PROJECT MANAGEMENT 261539 EASTBANC TECHNOLOGIES 1211 31ST STREET NW WASHINGTON DC 20007 SOFTWARE DEVELOPMENT AND SUPPORT 228993 SCOUT SOLUTIONS 108 BUGLE COURT NORTHEAST LEESBURG VA 20176 TECHNOLOGY CONSULTING 173482 15 TEST OPERATIONS 611710 51336900 51336900 SCHOOL/STUDENT PRODUCT 611710 3148568 3148568 MEDIA PRODUCTS 611710 1759538 1193035 566503 PROF. DEVELOPMENT 611710 1288687 1288687 57533693 3544803 3544803 35101166 32544569 2556597 2556597 2556597 INTERCOMPANY REVENUE 611710 83451 83451 22155 22155 105606 63740699 56967190 566503 6207006 234900 234900 54450 54450 272218 272218 5051421 3769895 1281526 748417 748417 14812194 9532777 5279417 785196 506753 278443 2080792 1342909 737883 1427059 921001 506058 48366 4837 43529 596014 59601 536413 464551 464551 4654867 3491150 1163717 5552942 4823751 729191 2031138 406228 1624910 6619791 3413047 3206744 292449 58490 233959 1979188 1093133 886055 1578020 1578020 4583959 4008662 575297 263976 52795 211181 TEST OPERATIONS 16291188 16291188 BAD DEBT EXPENSE 1318289 1318289 GST TAX 965334 965334 MEDIA/STUDENT RECRUIT 514497 514497 725828 300427 425401 73947044 55014352 18932692 0 22086573 10282637 2107423 2265416 1930463 12182 6291 1505187 1635989 17084511 13793683 2589155 3290828 134741856 147329354 7189207 129164 200000 200000 20693638 24172802 191283214 191084951 16975583 16961791 2225986 2171947 9394811 7375524 28596380 26509262 X 162686834 164575689 162686834 164575689 191283214 191084951 X -10206345 12064099 31101 X 0 1 X 1 0 X 89556966 60118407 63076773 53170088 56967190 322889424 89556966 60118407 63076773 53170088 56967190 322889424 0 0 0 322889424 3363163 4572565 3332422 3307275 3544803 18120228 3363163 4572565 3332422 3307275 3544803 18120228 148683 294942 147259 197161 258041 1046086 1724406 32133 55457 105606 1917602 93068812 66710320 66588587 56729981 60875640 343973340 0.93870 0.94560 0.05270 0.04750 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: GAIN ON DEBT EXTINGUISHMENT - 2020 AMOUNT: $ 1,724,406. GAIN ON BAD DEBT - 2021 AMOUNT: $ 29,325. ADVOCACY - 2021 AMOUNT: $ 2,808. INTERCOMPANY REVENUE - 2022 AMOUNT: $ 55,457. 2023 AMOUNT: $ 83,451. OTHER REVENUE - 2023 AMOUNT: $ 22,155. 7795746 6297227 1498519 4546183 4541148 5035 4742582 2955308 1787274 3290828 CAPITALIZED TEST ITEMS 10488468 RIGHT OF USE ASSETS 4449074 OTHER ASSETS 1728799 DEFERRED COMPENSATION PLAN 643276 RESIDUAL INTERCO INVESTMENT AND INTERCO AR 6863185 24172802 DEFERRED LEASE OBLIGATIONS 6635384 DEFERRED COMPENSATION LIABILITY 740140 7375524 X PART X, LINE 2: THE ORGANIZATION FOLLOWS THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS EVALUATED ITS TAX POSITIONS AND DETERMINED THAT ITS TAX POSITIONS ARE MORE-LIKELY-THAN-NOT TO BE SUSTAINED ON EXAMINATION. 1 EUROPE (INCLUDING ICELAND AND GREENLAND) 1 13 PROGRAM SERVICES CONDUCT EDUCATIONAL RESEARCH, PROVIDE SERVICES AND FACILIATE INFORMATION 2618656 EUROPE (INCLUDING ICELAND AND GREENLAND) 1 12 PROGRAM SERVICES ONLINE PUBLISHER OF BUSINESS SCHOLLS NEWS, APPLICANT ADVICE AND CAREER INSPIRATIONS 1834217 EAST ASIA & THE PACIFIC 1 4 PROGRAM SERVICES CONDUCT EDUCATIONAL RESEARCH, PROVIDE SERVICES AND FACILIATE INFORMATION 1338685 SOUTH ASIA 1 29 PROGRAM SERVICES CONDUCT EDUCATIONAL RESEARCH, PROVIDE SERVICES AND FACILIATE INFORMATION 3626133 SOUTH ASIA 1 3 PROGRAM SERVICES SELL NMAT AND RELATED TEST PREP PRODUCTS, AND FACILIATE INFORMATION EXCHANGE 2019109 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (ORGANIZATION) SPONSORSHIP FOR GLOBAL ACTIVITIES 158336 NORTH AMERICA (EXCLUDING USA) 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (ORGANIZATION) SPONSORSHIP FOR GLOBAL ACTIVITIES 7500 EAST ASIA & THE PACIFIC 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (INDIVIDUALS) FEE WAIVER 12850 EUROPE (INCLUDING ICELAND AND GREENLAND) 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (INDIVIDUALS) FEE WAIVER 21007 MIDDLE EAST & NORTH AFRICA 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (INDIVIDUALS) FEE WAIVER 3825 RUSSIA & NEIGHBORING STATES 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (INDIVIDUALS) FEE WAIVER 2750 SOUTH AMERICA 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (INDIVIDUALS) FEE WAIVER 2500 SOUTH ASIA 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (INDIVIDUALS) FEE WAIVER 52400 SUB SAHARAN AFRICA 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (INDIVIDUALS) FEE WAIVER 7000 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (INDIVIDUALS) FEE WAIVER 3550 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENT 3979826 5 61 0 0 5 61 11615486 4072858 15688344 EUROPE (INCLUDING ICELAND AND GREENLAND) SPONSORSHIP FOR GLOBAL ACTIVITIES 125000 WIRE 0 N/A N/A EUROPE (INCLUDING ICELAND AND GREENLAND) SPONSORSHIP FOR GLOBAL ACTIVITIES 33336 WIRE 0 N/A N/A NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES SPONSORSHIP FOR GLOBAL ACTIVITIES 7500 WIRE 0 N/A N/A 3 0 FEE WAIVER SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 191 52400 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY N/A FMV FEE WAIVER EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIU 73 21007 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY N/A FMV FEE WAIVER EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 50 12850 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY N/A FMV FEE WAIVER SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 28 7000 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY N/A FMV FEE WAIVER NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 13 3550 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY N/A FMV FEE WAIVER SOUTH AMERICA - ARGENTINA, BOLIVIA, BRAZIL, CHILE, COLUMBIA, ECUADOR, 10 2500 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY N/A FMV FEE WAIVER MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 15 3825 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY N/A FMV FEE WAIVER RUSSIA AND NEIGHBORING STATES - ARMENIA, AZERBIJAN, BELARUS, 11 2750 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY N/A FMV FEE WAIVER CENTRAL AMERICA AND THE CARIBBEAN 2 500 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY N/A FMV 0 0 1 0 0 0 PART I, LINE 2: GMAC MAINTAINS POLICIES, PROCEDURES, CONTRACTS OR SUMMARY TERMS AND RECORDS TO GUIDE CORPORATE CHARITABLE GIVING, INCLUDING GUIDANCE REGARDING ELIGIBILITY AND SELECTION CRITERIA, EXPENDITURE TRACKING AND SUBSTANTIATION OF THE AMOUNT OF GRANTS OR ASSISTANCE. GMAC EMPLOYEES WHO ARE DIRECTLY RESPONSIBLE FOR THE BUDGETED FUNDS FROM WHICH GRANTS ARE MADE ARE RESPONSIBLE FOR MONITORING THE USE OF GRANT FUNDS BY THE RECIPIENTS. PART I, LINE 3: THE ORGANIZATION USES THE ACCRUAL BASIS OF ACCOUNTING TO ACCOUNT FOR EXPENDITURES. PART I, LINE 3, COLUMN (E): REGION: EAST ASIA & THE PACIFIC (E) SPECIFIC TYPES OF SERVICES IN REGION: CONDUCT EDUCATIONAL RESEARCH, PROVIDE SERVICES, AND FACILITATE INFORMATION EXCHANGE WITHIN GREATER CHINA. 1 PHD PROJECT ASSOCIATION 3 CHESTNUT RIDGE ROAD MONTVALE NJ 07645 202610773 501(C)(3) 75000 0 N/A N/A PROMOTING GMAC PRODUCTS, SERVICES, AND RESEARCH AND PROVIDING INDUSTRY SUPPORT. ASSOCIATION TO ADVANCE COLLEGIATE SCHOOLS OF BUSINESS (AACSB) 777 S HARBOUR ISLAND BLVD SUITE 750 TAMPA FL 33602 436036286 501(C)(3) 69400 0 N/A N/A PROMOTING GMAC PRODUCTS, SERVICES, AND RESEARCH AND PROVIDING INDUSTRY SUPPORT. FORTE FOUNDATION 9600 ESCARPMENT 745 PMB 72 AUSTIN TX 78749 611457145 501(C)(3) 50000 0 N/A N/A PROMOTING GMAC PRODUCTS, SERVICES, AND RESEARCH AND PROVIDING INDUSTRY SUPPORT. EXECUTIVE MBA COUNCIL 1800 E HEIM AVE UNIT 47 ORANGE CA 92865 943095701 501(C)(3) 20000 0 N/A N/A PROMOTING GMAC PRODUCTS, SERVICES, AND RESEARCH AND PROVIDING INDUSTRY SUPPORT. GLOBAL BUSINESS SCHOOL NETWORK (GBSN) 1010 VERMONT AVE NW SUITE 201 WASHINGTON DC 20005 200670910 501(C)(3) 8000 0 N/A N/A PROMOTING GMAC PRODUCTS, SERVICES, AND RESEARCH AND PROVIDING INDUSTRY SUPPORT. 5 0 FEE WAIVER 198 54450 N/A N/A PART I, LINE 2: GMAC MAINTAINS POLICIES, PROCEDURES, CONTRACTS OR SUMMARY TERMS AND RECORDS TO GUIDE CORPORATE CHARITABLE GIVING, INCLUDING GUIDANCE REGARDING ELIGIBILITY AND SELECTION CRITERIA, EXPENDITURE TRACKING AND SUBSTANTIATION OF THE AMOUNT OF GRANTS OR ASSISTANCE. GMAC EMPLOYEES WHO ARE DIRECTLY RESPONSIBLE FOR THE BUDGETED FUNDS FROM WHICH GRANTS ARE MADE ARE RESPONSIBLE FOR MONITORING THE USE OF GRANT FUNDS BY THE RECIPIENTS. X X X X 1 0 0 0 0 0 0 1 0 JOY JONES CHIEF PRODUCT OFFICER & GENERAL MGR. 577182 0 208860 0 38629 0 19800 0 31366 0 875837 0 0 0 SANGEET CHOWFLA FORMER SR ADVISOR TO BOARD 0 0 245863 0 502554 0 0 0 5004 0 753421 0 398155 0 ASHISH BHARDWAJ SR VP & HEAD, MARKET DEVELOPMENT 334968 0 175512 0 38220 0 20216 0 31366 0 600282 0 0 0 JENNIFER MARTIN CFO & HEAD, CORPORATE DEVELOPMENT 340526 0 167495 0 15720 0 17538 0 26620 0 567899 0 0 0 KEVIN LEFEW CHIEF TECHNOLOGY OFFICER 302021 0 156500 0 42550 0 18980 0 7745 0 527796 0 0 0 ASHOK SARATHY VP, PRODUCT MANAGEMENT OPERATIONS 289315 0 128834 0 17745 0 17794 0 30487 0 484175 0 0 0 ROBIN EVERETT VP, LEGAL 260008 0 124731 0 40104 0 17656 0 31784 0 474283 0 0 0 SABRINA WHITE VP, SCHOOL & INDUSTRY ENGAGEMENT 296363 0 127498 0 18564 0 15186 0 10531 0 468142 0 0 0 KYUNGTYEK HAN SR DIR, PSYCHOMETRICIAN 222357 0 36930 0 2245 0 13961 0 26620 0 302113 0 0 0 ELAINE ALBERS SR DIR, PRODUCT MANAGEMENT 227622 0 29893 0 2089 0 13674 0 10531 0 283809 0 0 0 DAVID EELMAN SR DIR, GLOBAL CONTROLLER 230359 0 19843 0 2164 0 13838 0 10531 0 276735 0 0 0 MAITE SALAZAR CHIEF MARKETING OFFICER (TO 4/24/23) 80106 0 140088 0 22298 0 4902 0 10207 0 257601 0 0 0 ADAM WITWER CHIEF PRODUCT OFFICER (FROM 6/19/23) 171381 0 0 0 360 0 10400 0 8656 0 190797 0 0 0 SARAH BENNETT CHIEF MARKETING OFC. (FROM 6/15/23) 162341 0 0 0 0 0 9963 0 13901 0 186205 0 0 0 PART I, LINE 4A: SEVERANCE PAYMENTS THE FOLLOWING INDIVIDUAL RECEIVED SEVERANCE PAYMENTS IN 2023. THE AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN B(III). MAITE SALAZAR - $2,000 PART I, LINE 7: NONFIXED PAYMENTS ARE COMPRISED OF BONUSES PAID BASED ON FORMULAIC AND DISCRETIONARY INPUTS. FORM 990, PART I, LINE 5 AND FORM 990 PART V, LINE 2 EMPLOYEE COUNT- GMAC AND AFFILIATES HAVE A GLOBAL WORKFORCE OF 169, OF WHICH 116 ARE GMAC US EMPLOYEES. FORM 990, PART VI, SECTION A, LINE 6 GRADUATE MANAGEMENT ADMISSION COUNCIL SHALL HAVE ONE (1) CLASS OF VOTING MEMBERS, WHICH SHALL CONSIST OF GRADUATE BUSINESS AND MANAGEMENT SCHOOLS. THE CRITERIA FOR ADMISSION SHALL INCLUDE, AT A MINIMUM, A REQUIREMENT THAT THE PROSPECTIVE MEMBER (1) CAN AWARD DEGREES, AND (2) IS ACCREDITED BY A RELEVANT ACCREDITATION AGENCY OR ALTERNATIVELY PROVIDES EVIDENCE THAT ITS PROGRAMS MEET GENERALLY ACCEPTED STANDARDS OF HIGH QUALITY IN THE FIELD OF MANAGEMENT EDUCATION. THE CRITERIA SHALL ALSO INCLUDE AS A RELEVANT, BUT NOT DISPOSITIVE, QUALITATIVE FACTOR WHETHER THE GRADUATE MANAGEMENT ADMISSION TEST (GMAT) EXAM IS REQUIRED BY THE PROSPECTIVE MEMBER FOR ADMISSION TO ALL PROGRAMS GRANTING A MASTER'S DEGREE IN BUSINESS ADMINISTRATION (MBA) OR ANY EQUIVALENT PROGRAM. FORM 990, PART VI, SECTION A, LINE 7A EACH MEMBER THAT IS IN GOOD STANDING SHALL BE ENTITLED TO VOTE FOR THE ELECTION OF DEAN AND REPRESENTATIVE DIRECTORS TO THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THERE IS ONE CLASS OF MEMBERS. DECISIONS THAT REQUIRE THEIR APPROVAL ARE AMENDMENTS TO THE ARTICLES OF INCORPORATION AND REVISIONS TO THE BYLAWS. EACH MEMBER HAS EQUAL VOTING RIGHTS. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FINAL DRAFT IS SUBMITTED TO SENIOR MANAGEMENT BEFORE IT IS PROVIDED TO THE AUDIT AND RISK COMMITTEE FOR REVIEW AND APPROVAL. EACH PARTY IS EXPECTED TO THOROUGHLY READ THE FORM 990 IN ITS ENTIRETY AND HAS ACCESS TO THE YEAR-END FINANCIALS TO DO A COMPARATIVE REVIEW AS WELL. FEEDBACK IS PROVIDED TO MANAGEMENT WHETHER OR NOT CHANGES ARE REQUIRED. A FINAL APPROVAL OF THE FORM 990 IS OBTAINED EITHER DURING AN AUDIT AND RISK COMMITTEE MEETING OR A MEETING BY EMAIL PRIOR TO FILING. IN ADDITION, ALL VOTING MEMBERS OF THE BOARD ARE PROVIDED A COPY OF THE FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR HAS AN ONGOING ANNUAL OBLIGATION TO DISCLOSE POTENTIAL OR ACTUAL CONFLICTS. FOR DIRECTORS, THE BOARD OR ANY COMMITTEE OF THE BOARD AT WHICH A TRANSACTION IS CONSIDERED, IS RESPONSIBLE FOR REVIEWING AND DETERMINING WHETHER A CONFLICT EXISTS. IF A CONFLICT EXISTS, THE DIRECTOR SHALL NOT PARTICIPATE OR BE PRESENT AT THAT PORTION OF THE MEETING OF THE BOARD OR COMMITTEE. IF THE BOARD OR COMMITTEE DETERMINES THAT THE DIRECTOR HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, THE BOARD OR COMMITTEE WILL TAKE THE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS IS RESPONSIBLE FOR DETERMINING THE COMPENSATION OF THE CEO. THE BOARD ANNUALLY REVIEWS AND APPROVES GMAC CORPORATE GOALS AND OBJECTIVES, EVALUATES THE CEO'S PERFORMANCE IN LIGHT OF SUCH GOALS AND OBJECTIVES AND THEN DETERMINES COMPENSATION BASED ON THAT EVALUATION AND IN ACCORDANCE WITH ANY APPLICABLE EMPLOYMENT AGREEMENT. THE BOARD RETAINS AN INDEPENDENT COMPENSATION CONSULTANT TO ASSIST IN EVALUATING PERFORMANCE, INCLUDING OBTAINING AN ANNUAL COMPARABILITY ANALYSIS AS APPROPRIATE TO COMPLY WITH THE "REBUTTABLE PRESUMPTION" UNDER THE INTERMEDIATE SANCTION RULES OF IRC SECTION 4958. GMAC RETAINS INDEPENDENT COMPENSATION CONSULTANTS AND REPUTABLE SALARY SURVEY MARKET DATA TO EVALUATE COMPENSATION COMPARABILITY. THIS PROCESS MOST RECENTLY TOOK PLACE IN 2021. FORM 990, PART VI, SECTION C, LINE 19 GMAC MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: FOREIGN TRANSLATION ADJUSTMENT 31,101. BUSINESSBECAUSE LIMITED 20 RED LION STREET HOLBORN LONDON UK WC1R 4PQ 830763539 PUBLISH AND SELL DIGITAL STORIES ABOUT STUDENT LIFE UK 34336 567996 GMAC UK GRADUATE MANAGEMENT ADMISSION COUNCIL (HONG KONG) LIMITED 13 FLOOR 40-44 BONHAM STRAND SHEUNG WAN HK 237084339 MARKET DEVELOPMENT FOR GMAC WITHIN EAST ASIA AND SOUTHEAST ASIA HK 0 -82362 GMAC GRADUATE MANAGEMENT ADMISSION COUNCIL (SHANGHAI) MANAGEMENT CONSULTING LTD WEWORK 627 HUAIHAI MIDDLE ROAD SHANGHAI CH MARKET DEVELOPMENT FOR GMAC WITHIN EAST ASIA AND SOUTHEAST ASIA CH 118529 1798301 GMAC GRADUATE MANAGEMENT ADMISSION COUNCIL INDIA PRIVATE LIMITED SUITE 405/SUITE 406 SUNCITY BUSINESS TOWER IN 980699911 MARKET DEVELOPMENT FOR GMAC WITHIN EAST ASIA AND SOUTHEAST ASIA IN 367094 4835054 GMAC GRADUATE MANAGEMENT GLOBAL CONNECTION (INDIA) PRIVATE LIMITED SUITE 405/SUITE 407 SUNCITY BUSINESS TOWER IN 981316503 DELIVER THE NMAT BY GMAC EXAM AND TO MAKE SALES OF ITS PREP PRODUCTS IN 853319 -334613 GMAC GRADUATE MANAGEMENT GLOBAL CONNECTION UK LTD ST CLEMENTS HOUSE CLEMENTS LANE LONDON UK 980701860 MARKET DEVELOPMENT FOR GMAC WITHIN EUROPE UK 446649 2886434 GMAC GMGC INC 11921 FREEDOM DRIVE SUITE 300 RESTON VA 20190 832498530 SHELL COMPANY THAT OWNS 100% OF THE MBA TOUR, INC. VA GMAC C 28487 4071615 1.00000 1 THE MBA TOUR INC 11921 FREEDOM DRIVE SUITE 300 RESTON VA 20190 271449888 HOSTING GLOBAL EVENTS TO CONNECT SCHOOLS AND PROSPECTIVE STUDENTS TOGETHER. MA GMGC INC C -1278992 1165532 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 GMGC INC - NET ASSET TRANSFER S 4071615 NET ASSET VALUE MBA TOUR - NET ASSET TRANSFER S -134208 NET ASSET VALUE PART I, GRADUATE MANAGEMENT ADMISSION COUNCIL (HONG KONG) GRADUATE MANAGEMENT ADMISSION COUNCIL (HONG KONG) LIMITED WAS DISSOLVED EFFECTIVE NOVEMBER 3, 2023. PART IV, GMGC, INC. AND THE MBA TOUR, INC. ON DECEMBER 31, 2023, GRADUATE MANAGEMENT ADMISSION COUNCIL ACQUIRED THE ASSETS OF GMGC INC. AND THE MBA TOUR INC. AND SUBSEQUENTLY DISSOLVED THESE ENTITIES.