2023-02-11T13:06:42-06:00 2022-03-31 420714325 RSM US LLP 1861 INTERNATIONAL DRIVE SUITE 400 MCLEAN VA 22102 990 2021-04-01 366066325 AMERICAN GASTROENTEROLOGICAL ASSOCIATION INSTITUTE AMER 3016542055 4930 DEL RAY AVE BETHESDA MD 20814 CHRISTOPHER BLUHM VICE PRESIDENT, FINANCE 3016542055 2023-02-11 1 CHRISTOPHER BLUHM 999009999 FREDERICK LONGWOOD P00439715 7033366400 2023-02-11 3 AAL1 IAL1 2021 2023-03-07 01:45:13Z THOMAS SERENA 4930 DEL RAY AVE BETHESDA MD 20814 35740661 0 X GASTRO.ORG X 1937 DE TO CARRY OUT THE EDUCATIONAL, PRACTICE, AND RESEARCH INTERESTS OF THE AGA MEMBERS. 13 11 111 150 267901 158782 3323781 4081463 22521660 24403511 2094272 2424853 284229 145314 28223942 31055141 2593337 2344857 0 0 12993716 12344470 0 0 1076223 8208640 10188988 23795693 24878315 4428249 6176826 100198337 105553578 17659946 20430062 82538391 85123516 X THE PURPOSE OF AMERICAN GASTROENTEROLOGICAL ASSOCIATION INSTITUTE, INC. IS TO ADVANCE AND FOSTER THE DEVELOPMENT AND APPLICATION OF THE SCIENCE AND PRACTICE OF GASTROENTEROLOGY AND CLOSELY RELATED FIELDS OF STUDY, MEDICAL AND SCIENTIFIC BY PROVIDING LEADERSHIP AND AID IN ALL ASPECTS OF THIS FIELD, INCLUDING PATIENT CARE, RESEARCH, TEACHING, CONTINUING EDUCATION AND SCIENTIFIC COMMUNICATION, AND MATTERS OF NATIONAL HEALTH POLICY PERTAINING TO GASTROENTEROLOGY. 0 0 8929910 20000 12843072 EDUCATION - AGA IS THE HOME OF SOME OF THE HIGHEST QUALITY SCIENTIFIC AND CLINICAL KNOWLEDGE FOR GI CLINICIANS AND RESEARCHERS IN THE WORLD. 5950679 2324857 13510967 RESEARCH - THE AGA PUBLISHES SCIENTIFIC JOURNALS AND RAISES FUNDS TO SUPPORT YOUNG RESEARCHERS IN THE FIELD OF GASTROENTEROLOGY AND HEPATOLOGY. 1880498 749471 MEMBER SERVICES - THE AGA IMPROVES THE PROFESSIONAL LIVES OF THE GI COMMUNITY THROUGH ACCESS TO UNIQUE PROFESSIONAL EVENTS, COMMITTEE WORK, NETWORKING OPPORTUNITIES, AND SUBSCRIPTIONS TO ITS PREMIER JOURNALS: GASTROENTEROLOGY AND LCINICAL GASTROENTEROLOGY AND HEPATOLOGY. 820708 PRACTICE - AGA INSTITUTE DEFINES OPTIMAL CLINICAL PRATICE AND HELPS GASTROENTEROLOGISTS PROVIDE HIGH QUALITY, HIGH-VALUE CARE. 679145 ADVOCACY 1499853 18260940 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 1 0 0 1 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1 244 0 1 111 1 1 1 1 BD 0 0 0 0 0 0 0 0 0 0 X 13 11 0 0 0 0 1 1 0 1 1 0 0 0 1 1 1 1 1 1 1 0 AK AL AR AZ CA CO CT DC FL GA HI IL KS KY MA MD ME MI MN MO MS NC ND NH NJ NM NY OH OK OR PA RI SC TN UT VA WA WI WV X THOMAS J SERENA 3016542055 4930 DEL RAY AVE BETHESDA MD 20814 JOHN M INADOMI MD AGAF PRESIDENT (AS OF 6/21) 2.50 2.50 X X 21283 21283 0 JOHN M CARETHERS MD AGAF PRESIDENT ELECT (AS OF 6/21) 2.50 2.50 X X 0 0 0 BARBARA JUNG MD AGAF VICE PRESIDENT (AS OF 6/21) 2.50 2.50 X X 0 0 0 LAWRENCE KIM MD AGAF SECRETARY-TREASURER 2.50 2.50 X X 13875 13875 0 M BISHR OMARY MD PHD AGAF IMMEDIATE PAST PRESIDENT (AS OF 6/21) 2.50 2.50 X X 0 0 0 HASHEM B EL-SERAG MD MPH AGAF IMMEDIATE PAST PRESIDENT (UNTIL 6/21) 2.50 2.50 X X 0 0 0 MARIA T ABREU MD AGAF COUNCILLOR 2.50 2.50 X 0 0 0 MICHAEL L KOCHMAN MD AGAF COUNCILLOR 2.50 2.50 X 0 0 0 NICHOLAS O DAVIDSON MD DSC AGAF COUNCILLOR 2.50 2.50 X 0 0 0 DAVID A KATZKA MD AGAF COUNCILLOR 2.50 2.50 X 0 0 0 MICHAEL L WEINSTEIN MD AGAF COUNCILLOR 2.50 2.50 X 0 0 0 ANDREW CHAN MD AGAF COUNCILLOR (AS OF 6/21) 2.50 2.50 X 0 0 0 NAREASH GUNARATNAM MD AGAF COUNCILLOR (AS OF 6/21) 2.50 2.50 X 0 0 0 LIN CHANG MD AGAF COUNCILLOR (UNTIL 5/21) 2.50 2.50 X 0 0 0 PETER S MARGOLIS MD AGAF COUNCILLOR (UNTIL 5/21) 2.50 2.50 X 0 0 0 ROBERT S SANDLER MD MPH AGAF COUNCILLOR (UNTIL 5/21) 2.50 2.50 X 0 0 0 THOMAS SERENA CEO 40.00 0.00 X 495715 0 36223 NANCY CHILL SR. VP, EDUCATION & BUSINESS DEVELOPMENT 40.00 0.00 X 288943 0 42391 JEFFREY SPRINGER VP, MARKETING 33.00 7.00 X 192964 40932 31394 ELLEN SILVER VP, MTGS & CONVENTIONS 40.00 0.00 X 227775 0 37973 JESSICA DUNCAN VP, COMMUNICATIONS 39.00 1.00 X 229292 5879 15718 CHANTAL FREMONT VP, PRACTICE & QUALITY 40.00 0.00 X 221643 0 29896 KATHLEEN TEIXEIRA VP, GOVERNMENT AFFAIRS 7.00 33.00 X 36096 170166 36318 LESLIE HAUVER VP, INFORMATION TECHNOLOGY 40.00 0.00 X 201476 0 21316 CHRISTOPHER BLUHM SR. VP, FINANCE, IT, & MEMBERSHIP 40.00 0.00 X 208645 0 39979 LYNN GRONE VP, ORGANIZAITONAL EFFECTIVENESS 40.00 0.00 X 196816 0 35730 ERIN LANDIS VP, PUBLICATIONS 40.00 0.00 X 199914 0 28488 ALISON KIM VP, RESEARCH & INNOVATION 40.00 0.00 X 193973 0 28746 SONYA SERRA SR. DIR, REGISTRY DEVELOPMENT 40.00 0.00 X 144663 0 32508 SARAH MANWELL DIR, BUSINESS & DATA ANALYSIS 40.00 0.00 X 137760 0 9111 LESLIE NARRAMORE DIR, REGULATORY AFFAIRS 6.00 34.00 X 20477 116037 8917 RICARDO BLUM SR. DIR, MARKETING 39.00 1.00 X 128862 3304 16159 CRYSTAL YOUNG DIR, PROGRAM OPERATIONS 40.00 0.00 X 130384 0 16027 3290556 371476 466894 34 0 1 0 KNIGHTEN HEALTH LLC 4800 HAMPDEN LANE SUITE 200 BETHESDA MD 20814 MEDICAL EDUCATION 678470 APPLIED CLINICAL INTELLIGENCE LLC 3 BALA PLAZA WEST SUITE 402 BALA CYNWYD PA 19004 MEDICAL EDUCATION 283519 MARKETING COMMUNICATIONS OF NC LLC 780 TOWNSHIP LINE ROAD YARDLEY PA 19067 MEDICAL EDUCATION 199674 CLINICAL CARE OPTIONS LLC 12001 SUNRISE VALLEY DRIVE RESTON VA 20191 MEDICAL EDUCATION 184900 HAYMARKET MEDIA INC PO BOX 536331 PITTSBURGH PA 15253 MEDICAL EDUCATION 170406 6 2466334 1615129 4081463 PUBLICATIONS 541800 9586348 9318447 267901 SPONSORSHIPS 900099 7970512 7970512 AGA ASSN MGMT 900099 2959730 2959730 DIGESTIVE DISEASE WEEK 900099 2006224 2006224 EDUCATIONAL CONFERENCE 900099 1310214 1310214 570483 570483 24403511 1258007 1258007 108180 0 108180 108180 108180 5852366 4685520 1166846 1166846 1166846 OTHER INCOME 900099 37134 37134 37134 31055141 24243790 267901 2461987 X 2344857 2344857 3076728 2012088 863463 201177 7055191 4650193 1935001 469997 476892 312460 134497 29935 1047431 602048 393877 51506 688228 462278 182190 43760 196272 196272 167539 6281 122294 38964 58485 58485 243935 243935 4850760 4566550 159313 124897 444982 435182 9500 300 196531 40175 143077 13279 60407 8086 52321 239097 61329 177768 289524 197487 86164 5873 235497 139693 95804 9240 9240 430420 267956 136419 26045 82784 82784 HONORARIA 1427754 1310279 117475 ELECTRONIC 710240 271694 433046 5500 TEMPORARY STAFFING 142304 89263 35221 17820 OTHER EXPENSES 124864 109986 2011 12867 278353 176783 67267 34303 24878315 18260940 5541152 1076223 159 0 12450121 18097649 1451892 1661410 1243607 1857961 348633 538825 12586819 7593905 5131130 4992914 78126626 76649485 1446169 1755334 100198337 105553578 2314922 3824362 4345000 4380400 8680134 11658383 2319890 566917 17659946 20430062 X 47283906 50926429 35254485 34197087 82538391 85123516 100198337 105553578 X 6176826 -3633293 41592 X X 0 1 X 1 0 X 2697656 3619602 2234060 3323781 4081463 15956562 23857665 24645987 26674487 22521660 108180 97807979 26555321 28265589 28908547 25845441 4189643 113764541 57983 38906 46381 57577 73094 273941 4974275 438132 4957981 5559873 554349 16484610 5032258 477038 5004362 5617450 627443 16758551 97005990 1822357 2174129 1832168 1581067 1258007 8667728 198117 146519 118289 117142 580067 2020474 2320648 1950457 1698209 1258007 9247795 158699 158699 698015 122778 179200 37134 1037127 28575795 31284252 30981782 27722850 5643483 124208162 0.78100 0.77830 0.07450 0.06850 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 33895391 961129 -645836 1975077 32235607 23287761 3025335 9215295 1633000 33895391 24484597 1063455 -2263450 -3159 23287761 25137062 616513 -126555 1142423 24484597 22692287 1219976 2309026 1084227 25137062 0.00000 0.90186 0.09814 0 0 2150000 2150000 8456888 5984351 2472537 519830 397893 121937 1460101 1211661 248440 4992914 DEFERRED COMPENSATION LIABILITY 566917 566917 27219505 -3633293 41592 -3591701 30811206 243935 243935 31055141 24634380 0 24634380 243935 243935 24878315 PART V, LINE 4: ENDOWMENT FUNDS THE ORGANIZATION'S ENDOWMENT CONSISTS OF INDIVIDUAL FUNDS ESTABLISHED FOR AWARDS AND RELATED ACTIVITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: GAIN ON INTEREST RATE SWAP 41,592. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 12709317 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES EDITORIAL AND PROGRAM DEVELOPMENT SVCS 20300 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES EDITORIAL AND PROGRAM DEVELOPMENT SVCS 73901 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTMAKING 1500 NORTH AMERICA 0 0 PROGRAM SERVICES EDITORIAL AND PROGRAM DEVELOPMENT SVCS 119340 NORTH AMERICA 0 0 GRANTMAKING 30000 SOUTH AMERICA 0 0 PROGRAM SERVICES EDITORIAL AND PROGRAM DEVELOPMENT SVCS 1800 0 0 0 0 0 0 12956158 0 12956158 0 0 0 0 0 0 PART III ACCOUNTING METHOD: 1 AGA PILOT RESEARCH AWARD 2 40000 AGA RESEARCH SCHOLAR AWARD (RSA) 5 1500000 AUGUSTYN AWARD 1 40000 BEAUMONT 1 5000 DISTINGUISHED ACHIEVEMT 1 5000 FRIEDENWALD MEDAL 1 5000 FUNDERBURG AWARD 1 100000 GRG-GASTRO RESEARCH GROUP 1 1000 MEDTRONIC PILOT AWARD 1 30000 PFIZER PILOT RESEARCH AWARD 3 90000 NPP RESOURCE CENTER 1 500 ACADEMIC SKILLS WORKSHOP 35 17500 GI ACADEMY FOR EDUCATORS 1 1000 SCHWARTZ PANCREATIC CANCER RESEARCH SCHOLAR AWARD 1 300000 EQUITY PROJECT 6 62000 AMAN AHMED FAMILY 22 69857 MERCK COLORECTAL CANCER 1 30000 AGA FELLOW ABSTRACT 14 7500 STUDENT ABSTRACT 14 7500 EOSINOPHILIC GI ABSTRACT 3 1500 AMGEN PILOT AWARD IN HEALTH DISPARITIES 1 30000 RUSTGI AWARD 2 1500 PART I, LINE 2: PROCEDURE FOR MONITORING THE USE OF GRANT FUNDS: GRANTS AND AWARDS ARE AWARDED AND MONITORED BASED ON A PROGRAM'S BUDGET AND GRANT STIPULATIONS, IF ANY. PROGRAM MANAGERS ARE RESPONSIBLE FOR MONITORING THE USE OF GRANT FUNDS. X 1 1 X X X X X X 0 0 0 0 0 0 0 1 0 THOMAS SERENA CEO 477601 0 14550 0 3564 0 20300 0 15923 0 531938 0 0 0 NANCY CHILL SR. VP, EDUCATION & BUSINESS DEVELOP 274259 0 13442 0 1242 0 19698 0 22692 0 331333 0 0 0 ELLEN SILVER VP, MTGS & CONVENTIONS 213567 0 13126 0 1082 0 15460 0 22513 0 265748 0 0 0 JEFFREY SPRINGER VP, MARKETING 181594 38520 9675 2052 1695 360 12949 2747 12951 2747 218864 46426 0 0 CHANTAL FREMONT VP, PRACTICE & QUALITY 209754 0 11434 0 455 0 15013 0 14883 0 251539 0 0 0 JESSICA DUNCAN VP, COMMUNICATIONS 217463 5576 11162 286 667 17 14669 376 656 17 244617 6272 0 0 CHRISTOPHER BLUHM SR. VP, FINANCE, IT, & MEMBERSHIP 194339 0 12500 0 1806 0 14000 0 25979 0 248624 0 0 0 KATHLEEN TEIXEIRA VP, GOVERNMENT AFFAIRS 33739 159056 2188 10313 169 797 2450 11550 3906 18412 42452 200128 0 0 LYNN GRONE VP, ORGANIZAITONAL EFFECTIVENESS 182908 0 12204 0 1704 0 13308 0 22421 0 232545 0 0 0 ERIN LANDIS VP, PUBLICATIONS 192855 0 6665 0 394 0 13680 0 14809 0 228403 0 0 0 LESLIE HAUVER VP, INFORMATION TECHNOLOGY 189736 0 10809 0 931 0 13555 0 7761 0 222792 0 0 0 ALISON KIM VP, RESEARCH & INNOVATION 185416 0 8200 0 357 0 13300 0 15446 0 222719 0 0 0 SONYA SERRA SR. DIR, REGISTRY DEVELOPMENT 138617 0 5379 0 667 0 10217 0 22290 0 177170 0 0 0 PART I, LINE 1A THE ASSOCIATION'S PRESIDENT IS PERMITTED TO BRING A COMPANION ON CERTAIN BUSINESS TRIPS FOR THE ASSOCIATION. PART I, LINE 7 THE AGAI EXECUTIVE DIRECTOR IS ELIGIBLE TO RECEIVE AN ANNUAL BONUS, DETERMINED AS A PERCENTAGE OF BASE SALARY. THESE BONUSES ARE AWARDED AT THE DISCRETION OF THE INSTITUTE'S EXECUTIVE COMPENSATION COMMITTEE, SUBJECT TO FULL BOARD APPROVAL. FORM 990, PART VI, SECTION A, LINE 1A THE INSTITUTES' GOVERNING BOARD HAS AN EXECUTIVE COMMITTEE, CONSISTING OF THE BOARD OFFICERS, THE PAST PRESIDENT AND THE CHAIR OF THE INSTITUTE'S FOUNDATION FOR DIGESTIVE HEALTH AND NUTRITION. THE EXECUTIVE COMMITTEE HAS THE FOLLOWING DUTIES AND RESPONSIBILITIES: (1) DURING THE INTERVALS BETWEEN THE MEETINGS OF THE GOVERNING BOARD, TO EXERCISE SUCH POWERS AS MAY BE DELEGATED TO IT BY THE GOVERNING BOARD; (2) MAKE RECOMMENDATIONS TO THE GOVERNING BOARD AS TO MATTERS OF CHANGES, EXTENSIONS OR REVISIONS IN THE CORPORATIONS POLICY; (3) TO RECEIVE AND STUDY REPORTS OF SUCH COMMITTEES AS THE GOVERNING BOARD MAY DIRECT; (4) TO ACT AS AN ADVISORY BODY TO THE PRESIDENT; (5) TO KEEP A RECORD OF ITS PROCEEDINGS AND REPORT THE SAME TO THE GOVERNING BOARD AT THE NEXT SUCCEEDING MEETING FOR ITS APPROVAL OR DISAPPROVAL; AND (6) TO HOLD ITS MEETINGS AT SUCH PLACE OR PLACES AS IT MAY FROM TIME TO TIME DETERMINE. IN ADDITION, THE COMMITTEE MAY BE CALLED UPON TO MEET AT ANY TIME BY THE PRESIDENT OF THE FOUNDATION. ALL ACTIONS OF THE EXECUTIVE COMMITTEE SHALL BE SUBMITTED TO THE GOVERNING BOARD FOR RATIFICATION. IN ADDITION, THE EXECUTIVE COMMITTEE SHALL REVIEW AND EVALUATE PERFORMANCE OF EXISTING MEMBERS OF ALL COMMITTEES AND TASK FORCES AND DEVELOP SYSTEMS, POLICIES AND PROCEDURES TO ASSURE THAT ALL MEMBERSHIP THEREON IS APPROPRIATE TO THE RELEVANT MISSION AND THAT PROSPECTIVE APPOINTMENTS MEET THE NEEDS OF THE ORGANIZATION. THE EXECUTIVE COMMITTEE SHALL OVERSEE SELECTION OF ALL OFFICIAL AWARDS, PRIZES, AND GRANTS; AND SPECIFICALLY TO SELECT THE ANNUAL RECIPIENT OF THE JULIUS FRIEDENWALD MEDAL, WHICH WILL BE PRESENTED TO A MEMBER OF THE AMERICAN GASTROENTEROLOGICAL ASSOCIATION FOR DISTINGUISHED ACHIEVEMENT IN GASTROENTEROLOGY. THE EXECUTIVE COMMITTEE SHALL ALSO (1) ASSESS THE NEED FOR PRINT AND ELECTRONIC PUBLICATIONS AND SERVICES IN THE AREAS OF GASTROENTEROLOGY SCIENCE, CLINICAL PRACTICE AND EDUCATION, (2) RECOMMEND AND INITIATE PUBLISHING PROJECTS AND ACTIVITIES IN RESPONSE TO THOSE NEEDS, (3) DEVELOP PUBLICATION-RELATED POLICIES FOR APPROVAL BY THE GOVERNING BOARD, AND (4) ENSURE THE QUALITY AND FINANCIAL VIABILITY OF ALL AGA INSTITUTE PUBLICATIONS. FORM 990, PART VI, SECTION A, LINE 6 THE SOLE MEMBER OF THE ORGANIZATION IS AMERICAN GASTROENTEROLOGICAL ASSOCIATION, INC., A RELATED ENTITY EXEMPT FROM FEDERAL INCOME TAX UNDER IRC SECTION 501(C)(6). FORM 990, PART VI, SECTION A, LINE 7A THE INSTITUTE'S GOVERNING BOARD CONSISTS OF TWELVE PERSONS, ELEVEN OF WHICH ARE ELECTED BY THE MEMBER (THE AMERICAN GASTROLOGICAL ASSOCIATION) AND ONE OF WHICH IS THE CHAIR OF THE INSTITUTE'S AGA RESEARCH FOUNDATION (NOT A SEPARATE ENTITY). FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY A THIRD PARTY, FROM INFORMATION SUPPLIED BY THE INSTITUTE. AGA MANAGEMENT REVIEWS THE FINAL FORM 990 AND ADDRESSES ANY QUESTIONS PRIOR TO FILING. THE GOVERNING BOARD DOES NOT REVIEW THE FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE GOVERNING BOARD MEMBERS ARE REQUIRED TO COMPLETE A CONFLICT OF INTEREST POLICY FORM QUARTERLY TO DISCLOSE ANY CONFLICTS THAT MAY ARISE. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMPENSATION COMMITTEE MEETS ANNUALLY TO REVIEW AND APPROVE COMPENSATION OF TOP MANAGEMENT OFFICIALS. AN INDEPENDENT CONSULTANT IS USED TO PROVIDE COMPARABLE SURVEY DATA TO HELP SET COMPENSATION LEVELS FOR THE CEO AND SENIOR POSITIONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER CONTRACTED SERVICES: PROGRAM SERVICE EXPENSES 4,566,550. MANAGEMENT AND GENERAL EXPENSES 159,313. FUNDRAISING EXPENSES 124,897. TOTAL EXPENSES 4,850,760. FORM 990, PART XI, LINE 9: GAIN ON INTEREST RATE SWAP 41,592. FORM 990, PART XII, LINE 2C: THE AUDIT OVERSIGHT PROCESS HAS REMAINED UNCHANGED FROM THE PREVIOUS YEAR. AMERICAN GASTROENTEROLOGICAL ASSOCIATION INC (AGA) 4930 DEL RAY AVENUE BETHESDA MD 20814 202986410 PROFESSIONAL MEMBERSHIP ASSOCIATION DE 501(C)(6) N/A N/A 0 AGA POLITICAL ACTION COMMITTEE 4930 DEL RAY AVENUE BETHESDA MD 20814 204759482 POLITICAL ACTION COMMITTEE MD 527 N/A AGA 0 DDW LLC 4930 DEL RAY AVENUE BETHESDA MD 20814 OPERATION OF "DIGESTIVE DISEASE WEEK" CONFERENCE MD 501(C)(3) LINE 10 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 1 0 1 0 1 AMERICAN GASTROENTEROLOGICAL ASSN INC J 108180 LEASE CONTRACT AMERICAN GASTROENTEROLOGICAL ASSN INC O 998640 TIME RECORDS AMERICAN GASTROENTEROLOGICAL ASSN INC Q 2085984 FMV DDW LLC S 2006224 CASH DISTRIBUTION DDW LLC L 1493596 MANAGEMENT AGREEMENT AGA PAC L 59127 FMV - IN KIND