2023-05-09T13:52:56-05:00 2022-06-30 FORVIS LLP 2700 Post Oak Blvd Ste 1500 HOUSTON TX 77056 990 2021-07-01 742245072 Texas A&M Foundation % JOHN HUSER TEXA 9798458161 401 George Bush Drive College Station TX 778402811 JOHN HUSER VP AND CFO 9798458161 2023-05-16 true JOHN HUSER 999009999 John W Steffes P00186434 7134994600 2 2021 2023-04-26 12:10:37Z TYSON VOELKEL 401 GEORGE BUSH DRIVE COLLEGE STATION TX 778402811 1068047028 false X TXAMFOUNDATION.COM X 1953 TX FUNDRAISING AND ASSET MANAGEMENT FOR THE BENEFIT OF TEXAS A&M UNIVERSITY AT COLLEGE STATION. 7 7 192 38 -6809903 0 81505709 168069823 0 0 116783214 132391658 3002137 2453358 201291060 302914839 92714741 105227028 0 0 23341120 24062112 55897 1090 22850435 33261655 39802798 149373413 169093028 51917647 133821811 3099611909 3086244286 405080709 393595703 2694531200 2692648583 X THE TEXAS A&M FOUNDATION BUILDS A BRIGHTER FUTURE FOR TEXAS A&M UNIVERSITY, ONE RELATIONSHIP AT A TIME, BY UNITING GENEROSITY AND VISION TO RAISE SUPPORT AND MANAGE ENDOWED GIFTS. false false 54920268 54920268 DEPARTMENTAL SUPPORT: PROVIDE NEEDED FUNDS TO SUPPORT THE UNIVERSITY'S COLLEGE, SCHOOL, INSTITUTE, CENTER AND PROGRAMMATIC DEPARTMENTAL NEEDS AND ACTIVITIES THROUGH BOTH NON-ENDOWED FUNDS AND FUNDS GENERATED FROM ENDOWMENTS. 37332282 37332282 SCHOLARSHIPS/FELLOWSHIPS: PROVIDE FINANCIAL AID FOR BOTH UNDERGRADUATES AND GRADUATES WITH BOTH NON-ENDOWED SCHOLARSHIPS AND FUNDS GENERATED FROM SCHOLARSHIP ENDOWMENTS. 12582369 12582369 FACULTY SUPPORT: PROVIDE FUNDING FOR FACULTY TEACHING, RESEARCH, RECRUITMENT AND RETENTION WITH BOTH NON-ENDOWED FUNDS AND FUNDS GENERATED FROM ENDOWMENTS. 393520 392109 INSTITUTIONAL SUPPORT 393520 392109 105228439 true true false true false false false true false true true true false false true false true false false false true true false false false false false true false true false false false false false false false false true false false false false true true true false false true X 221 0 true 192 true true true true BR DA KS false false false true true true 4 false false false false false X 7 7 false false false false false true false true true false false true true true true true true true true false AR CA DC IL KY MD MA MI MN NH NJ NY OR PA SC UT WA WV X JOHN HUSER 9798458161 401 GEORGE BUSH DRIVE COLLEGE STATION TX 77840 X TYSON T VOELKEL PRESIDENT & CEO 40.0 0.0 X 661480 0 69068 MICHAEL D PIA CIO 40.0 0.0 X 518035 0 73412 JAMES J PALINCSAR SR VP FOR DEVELOPMENT 40.0 0.0 X 422720 0 67483 JOHN A HUSER VP & CFO 40.0 0.0 X 403466 0 73021 ROY HARVEY II INVESTMENT DIRECTOR 40.0 0.0 X 310592 0 63757 WILLIAM L FUSSELMAN VP & GENERAL COUNSEL 40.0 0.0 X 275113 0 60194 ROSS WILLMANN INVESTMENT DIRECTOR 40.0 0.0 X 266521 0 48365 GEORGE GRAINGER ASST. VP, STRATEGIC PLANNING 40.0 0.0 X 216288 0 52311 JOHN C SPEIER IV VP FOR INFO SVCS & ANALYTICS 40.0 0.0 X 203349 0 56199 TIMOTHY A WALTON ASST. VP, REAL ESTATE SERVICES 40.0 0.0 X 205745 0 42806 LOUIS PALETTA TRUSTEE 3.0 0.0 X 0 0 0 WILLIAM LEMMONS JR TRUSTEE 3.0 0.0 X 0 0 0 KATHLEEN M GIBSON TRUSTEE 3.0 0.0 X 0 0 0 OTWAY DENNY JR TRUSTEE 3.0 0.0 X 0 0 0 GEORGE N HARRIS JR TRUSTEE 3.0 0.0 X 0 0 0 DAN ALLEN HUGHES JR TRUSTEE 3.0 0.0 X 0 0 0 GINA LUNA TRUSTEE 3.0 0.0 X 0 0 0 3483309 0 606616 63 false true false DUDLEY CONSTRUCTION LTD 11370 STATE HIGHWAY 30 COLLEGE STATION TX 77845 CONSTRUCTION SERVICE 2180010 GARDNER RUSSO GARDNER LLC 223 EAST CHESTNUT STREET LANCASTER PA 17602 INVESTMENT MANAGER 1146861 ARTISAN PARTNERS 875 E WISCONSIN AVE STE 800 MILWAUKEE WI 53202 INVESTMENT MANAGER 954573 ACADIAN ASSET MANAGEMENT LLC 260 FRANKLIN ST BOSTON MA 02110 INVESTMENT MANAGER 783739 EDGEWOOD MANAGEMENT LLC 535 MADISON AVENUE 15TH FLOOR NEW YORK NY 10022 INVESTMENT MANAGER 984389 26 168069823 19084971 168069823 0 39021916 -16362504 55384420 0 2142635 2142635 11771 11771 0 11771 11771 853499960 5001971 761695236 3436953 91804724 1565018 93369742 9552601 83817141 0 0 0 0 0 0 0 0 0 Other Receipts 900099 298952 298952 298952 302914839 -6809903 141654919 104230396 104230396 0 996632 996632 0 2678459 1591114 1087345 0 16299010 4361345 11937665 2258885 599763 1659122 1565996 452625 1113371 1259762 348328 911434 0 21463 8906 12557 220260 216516 3744 1411 1411 1090 1090 31884128 31884128 366067 108982 257085 2122300 75849 2046451 1146239 220177 926062 984590 295047 689543 0 694073 229632 464441 612677 175875 436802 0 157123 51547 105576 0 0 505107 166685 338422 182262 81903 100359 General Fundraising 491619 3660 487959 OTHER EXPENSES 413479 142072 271407 169093028 105228439 41014154 22850435 0 0 68337180 85599053 147668994 147781876 1808495 3814204 0 0 0 0 0 0 0 0 0 0 28999506 8785580 21387884 20213926 1822100991 1522928524 986372179 1254330383 0 0 0 0 51936186 51576320 3099611909 3086244286 4171044 3077032 0 0 0 0 0 0 0 0 0 0 0 0 0 0 400909665 390518671 405080709 393595703 X 94426262 92222150 2600104938 2600426433 2694531200 2692648583 3099611909 3086244286 X 133821811 -126063233 -9641195 X X false true X true false X 191393321 129386108 136068968 81505709 168069823 706423929 0 0 191393321 129386108 136068968 81505709 168069823 706423929 42503389 663920540 29961382 42815584 62200331 32013337 41176322 208166956 0 0 0 0 0 298952 298952 914889837 0.72568 0.72961 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1411 1411 105227028 105228439 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 370 1411 1781 250000 250000 250000 250000 1000000 1500000 19377372 X X X false 2166128658 98577073 34284272 29325296 36269599 48381320 2185013788 1619665719 49351748 598742303 26377304 35952103 39301705 2166128658 1621450072 58669567 36829634 23749719 37197599 36336236 1619665719 1595387578 74138809 42661161 24980178 31006082 34751216 1621450072 1459219409 70163151 146118261 24059843 28407477 27645923 1595387578 0.02520 0.69450 0.28030 true false 5744906 5744906 18592649 6061534 12531115 4661951 2724046 1937905 20213926 NON-MARKETABLE SECURITIES 1254330383 F 1254330383 0 HELD FOR OTHER CHARITABLE ORGS 333926079 OTHER LIABILITIES 50000 ANNUITIES & TRUSTS PAYABLE 56542592 390518671 142764155 -126063233 -126063233 268827388 34087451 34087451 302914839 144646772 9641195 9641195 135005577 34087451 34087451 169093028 SCHEDULE D, PART III, LINE 4 DESCRIPTION OF ORGANIZATION'S COLLECTION DONATED PAINTINGS AND GLASS ART ON PUBLIC EXHIBITION AND FOR EDUCATIONAL PURPOSES. SCHEDULE D, PART V, LINE 4 INTENDED USE OF ENDOWMENT FUNDS SUPPORT FOR TEXAS A&M UNIVERSITY IN ACCORDANCE WITH THE ORGANIZATION'S MISSION STATEMENT. SCHEDULE D, PART X, LINE 2 PURSUANT TO DETERMINATION LETTERS RECEIVED FROM THE INTERNAL REVENUE SERVICE (IRS), THE FOUNDATION IS GENERALLY EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AS A PUBLIC FOUNDATION. THUS, GIFTS TO THE FOUNDATION ARE TAX DEDUCTIBLE. THE FOUNDATION IS SUBJECT TO INCOME TAX ON THE UNRELATED BUSINESS INCOME, CONSISTING OF CERTAIN INCOME FROM LIMITED PARTNERSHIP INTERESTS AND OIL AND GAS WORKING INTERESTS. UNRELATED BUSINESS INCOME IS NOT MATERIAL. MANAGEMENT HAS EVALUATED THEIR INCOME TAX POSITIONS UNDER THE GUIDANCE INCLUDED IN ASC 740. BASED ON THEIR REVIEW, MANAGEMENT HAS NOT IDENTIFIED ANY MATERIAL UNCERTAIN TAX POSITIONS TO BE RECORDED OR DISCLOSED IN THE FINANCIAL STATEMENTS. SCHEDULE D, PART XII, LINE 2D RECONCILIATION OF AUDITED FINANCIAL STATEMENTS TO FORM 990 EXPENSE ON BOOKS, NOT ON RETURN: LOSS DUE TO CHANGE OF DONOR PLEDGES $ 9,641,195 true Central America and the Caribbean 0 0 Investments 167824000 East Asia and the Pacific 0 0 Investments 8465000 Europe (Including Iceland and Greenland) 0 0 Investments 74378000 North America 0 0 Investments 38744000 South America 0 0 Investments 1579875 Central America and the Caribbean 0 0 Fundraising BUSINESS MEETING 2016 Europe (Including Iceland and Greenland) 0 0 Investments LTIP MANAGEMENT 59375 Sub-Saharan Africa 0 0 Fundraising BUSINESS MEETING 1229 Central America and the Caribbean 0 0 Program Services FACULTY TRAVEL 12180 Europe (Including Iceland and Greenland) 0 0 Program Services FACULTY TRAVEL 40850 Russia and the Newly Independent States 0 0 Program Services DEPARTMENTAL SUPPORT 750000 Central America and the Caribbean 0 0 Program Services STUDY ABROAD 17369 East Asia and the Pacific 0 0 Program Services STUDY ABROAD 667 Europe (Including Iceland and Greenland) 0 0 Program Services STUDY ABROAD 163317 North America 0 0 Program Services STUDY ABROAD 5000 South America 0 0 Program Services STUDY ABROAD 1820 Russia and the Newly Independent States 0 0 Program Services STUDY ABROAD 3250 Sub-Saharan Africa 0 0 Program Services STUDY ABROAD 2180 East Asia and the Pacific 0 0 Program Services CONTRIBUTIONS 2550 Europe (Including Iceland and Greenland) 0 0 Program Services CONTRIBUTIONS 286744 Middle East and North Africa 0 0 Program Services CONTRIBUTIONS 300 North America 0 0 Program Services CONTRIBUTIONS 6025 South America 0 0 Program Services CONTRIBUTIONS 10 South Asia 0 0 Program Services CONTRIBUTIONS 2000 Sub-Saharan Africa 0 0 Program Services CONTRIBUTIONS 200 0 0 0 0 0 0 292047948 300009 292347957 Central America and the Caribbean STUDY ABROAD 17369 Europe (Including Iceland and Greenland) STUDY ABROAD 163317 Central America and the Caribbean FACULTY TRAVEL 12180 Europe (Including Iceland and Greenland) FACULTY TRAVEL 40850 Russia and the Newly Independent States DEPARTMENTAL SUPPORT 750000 1 true false true true true false SCHEDULE F, PART I, LINE 2 MONITORING OF FUNDS AND ASSISTANCE OUTSIDE OF THE U.S. THE FOUNDATION HAS POLICIES AND PROCEDURES AND REQUIRES ITEMIZED RECEIPTS TO MONITOR FOUNDATION DIRECT PAYMENTS TO TAMU STAFF FOR REIMBURSEMENT OF TRAVEL ACTIVITY OUTSIDE OF THE UNITED STATES. QUALIFYING EXPENSES ARE APPROVED AT A HIGHER LEVEL OF AUTHORITY THAN THE TRAVELER. THE FOUNDATION ALSO TRANSFERS FUNDS DIRECTLY TO TEXAS A&M UNIVERSITY FOR SUPPORT WHICH MAY OR MAY NOT INCLUDE FOREIGN ACTIVITIES. SCHEDULE F, PARTS I & II THE ORGANIZATION PROVIDES GRANTS AND OTHER ASSISTANCE TO TEXAS A&M UNIVERSITY. BASED ON THE IRS INSTRUCTIONS FOR SCHEDULE F, THESE GRANTS WERE MADE "TO A PARTICULAR U.S. ORGANIZATION OR ENTITY FOR THE UNDERSTOOD PURPOSE OF ENGAGING DIRECTLY OR INDIRECTLY IN FOREIGN ACTIVITY" THEY ARE REPORTED ON SCHEDULE F PART I AND PART II. THE FUNDS WERE ULTIMATELY USED IN MORE THAN ONE REGION. ALL REGIONS WHOSE SUPPORT EXCEEDED THE $5,000 MINIMUM REPORTING THRESHOLD FOR PART II ARE LISTED IN SCHEDULE F, PART II, LINE 1. REGIONS REPORTED ON SCHEDULE F, PART I BELOW THE $5,000 THRESHOLD ARE NOT REPORTED IN PART II. SCHEDULE F, PART I, LINE 3, COLUMN (F) THE EXPENDITURES ARE REPORTED USING THE ACCRUAL METHOD AS REPORTED IN THE FINANCIAL STATEMENTS. true TEXAS A&M UNIVERSITY C/O TEXAS AM FOUNDATION 401 GEORGE BUSH DRIVE COLLEGE STATION TX 778402811 746000531 STATE OF TX 54170268 DEPARTMENTAL SUPPORT TEXAS A&M UNIVERSITY C/O TEXAS AM FOUNDATION 401 GEORGE BUSH DRIVE COLLEGE STATION TX 778402811 746000531 STATE OF TX 37138680 SCHOLARSHIPS & FELLOWSHIPS TEXAS A&M UNIVERSITY C/O TEXAS AM FOUNDATION 401 GEORGE BUSH DRIVE COLLEGE STATION TX 778402811 746000531 STATE OF TX 12529339 FACULTY SUPPORT TEXAS A&M UNIVERSITY C/O TEXAS AM FOUNDATION 401 GEORGE BUSH DRIVE COLLEGE STATION TX 778402811 746000531 STATE OF TX 393520 INSTITUTIONAL SUPPORT 1 SCHEDULE I, PART I, LINE 2 TEXAS A&M FOUNDATION REQUIRES A FULL-TIME SENIOR STAFF OR FACULTY MEMBER OF TEXAS A&M UNIVERSITY TO SUBMIT DOCUMENTATION SHOWING THE INTENDED USE OF FUNDS, AND TO PROVIDE RECEIPTS AND INVOICES WHEN APPLICABLE. X false true X X X X false false false false false false false true false TYSON T VOELKEL PRESIDENT & CEO 521999 0 128850 0 10631 0 51467 0 17601 0 730548 0 0 0 JAMES J PALINCSAR SR VP FOR DEVELOPMENT 310303 0 104052 0 8365 0 49733 0 17750 0 490203 0 0 0 JOHN A HUSER VP & CFO 300634 0 96305 0 6527 0 50312 0 22709 0 476487 0 0 0 WILLIAM L FUSSELMAN VP & GENERAL COUNSEL 208053 0 65025 0 2035 0 37485 0 22709 0 335307 0 0 0 ROY HARVEY II INVESTMENT DIRECTOR 230136 0 77355 0 3101 0 41048 0 22709 0 374349 0 0 0 ROSS WILLMANN INVESTMENT DIRECTOR 219481 0 42349 0 4691 0 37855 0 10510 0 314886 0 0 0 TIMOTHY A WALTON ASST. VP, REAL ESTATE SERVICES 192554 0 11949 0 1242 0 32555 0 10251 0 248551 0 0 0 GEORGE GRAINGER ASST. VP, STRATEGIC PLANNING 202343 0 10381 0 3564 0 35296 0 17015 0 268599 0 0 0 JOHN C SPEIER IV VP FOR INFO SVCS & ANALYTICS 185659 0 17150 0 540 0 33490 0 22709 0 259548 0 0 0 MICHAEL D PIA CIO 350435 0 165133 0 2467 0 50704 0 22708 0 591447 0 0 0 SCHEDULE J, PART I, LINE 1A SOCIAL CLUB DUES ARE PAID BY TEXAS A&M FOUNDATION AND ARE REPORTED AS TAXABLE FRINGE BENEFITS ON APPLICABLE FORM W2 FOR TYSON VOELKEL, JAMES PALINCSAR, JOHN HUSER, WILLIAM FUSSELMAN, MICHAEL PIA, ROY HARVEY, AND ROSS WILLMANN. SCHEDULE J, PART I, LINE 1B THE BOARD SPECIFICALLY APPROVED THE SOCIAL CLUB DUES FRINGE BENEFIT FOR PRESIDENT & CEO, VP & CFO, VP & GENERAL COUNSEL, SR VP FOR DEVELOPMENT, VP FOR ENGAGEMENT, CIO AND INVESTMENT DIRECTOR ROLES. SCHEDULE J, PART I, LINE 7 THESE EMPLOYEES RECEIVED MERIT AWARDS FOR ACCOMPLISHMENTS TOWARDS STRATEGIC PRIORITIES AND SIGNIFICANT WORK PERFORMANCE DETERMINED IN THE COURSE OF AN ANNUAL PERFORMANCE REVIEW AND THIS WAS INCLUDED IN REPORTED COMPENSATION. THESE INDIVIDUALS WERE NOT PRESENT DURING DISCUSSION RELATED TO THEIR COMPENSATION. THESE AWARD AMOUNTS WERE DETERMINED AND CALIBRATED BY EXECUTIVE STAFF USING FACTORS SUCH AS THE IMPACTFUL PERFORMANCE OUTCOMES, EXTRA EFFORT EXTENDED, AND SIGNIFICANT CONTRIBUTIONS TO MISSION. MERIT AWARDS ARE AVAILABLE AND AWARDED AS APPLICABLE TO ANY STAFF MEMBERS OF TEXAS A&M FOUNDATION. JAMES PALINCSAR - $6,500 WILLIAM FUSSELMAN - $6,700 ROSS WILLMANN - $2,500 TIMOTHY WALTON - $2,500 JOHN C. SPEIER - $7,500 THESE EMPLOYEES RECEIVED YEARS OF SERVICE MONETARY AWARDS THAT WERE INCLUDED AND REPORTED IN COMPENSATION. YEARS OF SERVICE AWARDS ARE MADE TO ALL STAFF MEMBERS OF TEXAS A AND M FOUNDATION AS CERTAIN MILESTONES ARE ACHIEVED. TYSON VOELKEL - $100 WILLIAM FUSSELMAN - $250 THE COMPENSATION COMMITTEE AWARDED THESE EXECUTIVES ONE TIME BONUSES IN RECOGNITION OF CAMPAIGN SUCCESS AND OTHER SIGNIFICANT STRATEGIC ACCOMPLISHMENTS. THIS WAS INCLUDED IN REPORTED COMPENSATION. THESE INDIVIDUALS WERE NOT PRESENT DURING THE DETERMINATION MADE BY THE COMMITTEE. TYSON VOELKEL - $50,000 JAMES PALINCSAR - $50,000 JOHN HUSER - $50,000 WILLIAM FUSSELMAN - $25,000 MICHAEL PIA - $50,000 X 259 16736233 AVG HI/LO ON GIFT DT X 7 1839416 TRUST NPV X 1 300000 MARKET COMPARISON X 3 3 NOMINAL VALUE X COIN COLLECTION 1 1998 APPRAISAL X REAL ESTATE TRUST INTEREST 1 183673 TRUST NPV X CRYPTOCURRENCY 3 23648 MARKET VALUE 2 false true true SCHEDULE M, PART I, LINE 32B THIRD PARTY USE FOR REAL ESTATE PROPERTY, THE FOUNDATION USUALLY LISTS THE PROPERTY WITH A LOCAL PROFESSIONAL REAL ESTATE BROKER TO FACILITATE SALES. THIRD PARTY USE FOR CRYPTOCURRENCY, THE FOUNDATION USES A THIRD PARTY VENDOR THAT SPECIALIZES IN NOT-FOR-PROFIT GIFT ACCEPTANCE AND IMMEDIATE CONVERSION OF SOME VIRTUAL CURRENCY TYPES. SCHEDULE M, PART I, COLUMN (B) TEXAS A&M FOUNDATION RECEIVED VARIOUS TYPES OF NONCASH CONTRIBUTIONS. THE INFORMATION REPORTED IN COLUMN B REPRESENTS A COMBINATION OF BOTH THE NUMBER OF ITEMS AND CONTRIBUTIONS RECEIVED OF EACH TYPE OF PROPERTY. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS, STOCKHOLDERS, OR OTHER PERSONS WHO HAD POWER TO ELECT OR APPOINT: EACH YEAR AS ONE TRUSTEE TERM ENDS, A NEW TRUSTEE IS SELECTED BY THE ASSOCIATION OF FORMER STUDENTS, A SEPARATE ORGANIZATION THAT ALSO SUPPORTS TEXAS A&M UNIVERSITY. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS: DISCUSSION OF THE FORM 990 WAS AN AGENDA ITEM AT THE MARCH 2023 BOARD OF TRUSTEE MEETING. ALL MEMBERS OF THE BOARD OF TRUSTEES RECEIVED A COPY OF THE 990 PRIOR TO THE MEETING FOR THEIR REVIEW. THE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER PRESENTED THE FORM 990 AND ANSWERED ALL QUESTIONS POSED. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY MONITORING AND ENFORCEMENT: THE OFFICERS, TRUSTEES, AND KEY EMPLOYEES ARE PROVIDED A COPY OF THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND A DISCLOSURE FORM EACH YEAR. THE DISCLOSURE FORMS ARE RETURNED AND REVIEWED BY THE ORGANIZATION'S IN-HOUSE COUNSEL AND REPORTED TO THE CHAIRMAN OF THE AUDIT COMMITTEE. WITH A BOARD OF ONLY SEVEN TRUSTEES, IT IS RELATIVELY EASY TO DISCERN WHO AMONG THE MEMBERS OF THE BOARD, OFFICERS, AND KEY EMPLOYEES MAY HAVE A RELATIONSHIP, WHICH REQUIRES DISCLOSURE. IF REVIEW OF THE DISCLOSURE FORM DOES NOT REVEAL WHAT IS EXPECTED TO BE DISCLOSED, THE INDIVIDUAL IS CONTACTED BY AN OFFICER OF THE ORGANIZATION FAMILIAR WITH THE REPORTING REQUIREMENTS TO PROVIDE ADDITIONAL EXPLANATION AND A REVISED DISCLOSURE FORM IS RETURNED. THE FORM STATES THAT IT IS THE RESPONSIBILITY OF THE OFFICER, TRUSTEE, OR KEY EMPLOYEE TO UPDATE THE DISCLOSURE IF CIRCUMSTANCES OCCUR THROUGHOUT THE YEAR WHICH NECESSITATE A CHANGE IN THE INFORMATION SUPPLIED. FORM 990, PART VI, SECTION B, LINE 15A & 15B THE COMPENSATION COMMITTEE OF THE ORGANIZATION REVIEWS AND APPROVES TOTAL COMPENSATION OF ALL OFFICERS AND THE CHIEF INVESTMENT OFFICER. THE OFFICERS INCLUDED IN THIS REVIEW ARE THE PRESIDENT, SENIOR VICE PRESIDENT FOR DEVELOPMENT, VICE PRESIDENT AND CHIEF FINANCIAL OFFICER, AND VICE PRESIDENT AND GENERAL COUNSEL. COMPARABILITY DATA FOR ALL POSITIONS UNDER REVIEW IS PRESENTED TO THE COMMITTEE. THE COMPENSATION COMMITTEE IS COMPOSED OF FOUR MEMBERS OF THE BOARD OF TRUSTEES WHO ARE UNCOMPENSATED VOLUNTEERS. THE PRESIDENT (CHIEF EXECUTIVE) OF THE ORGANIZATION IS PRESENT FOR A PORTION OF THE COMMITTEE MEETING TO PRESENT PERFORMANCE AND ACCOMPLISHMENTS OF THE EXECUTIVE STAFF AND INVESTMENT TEAM. NONE OF THE OTHER OFFICERS NOR CHIEF INVESTMENT OFFICER ARE PRESENT FOR ANY PORTION OF THIS DISCUSSION. THE PRESIDENT IS EXCUSED FROM THE MEETING FOR THE COMMITTEE TO DISCUSS HIS PERFORMANCE AND THE DECISION REGARDING HIS SALARY. NONE OF THE OFFICERS NOR CHIEF INVESTMENT OFFICER ARE VOTING MEMBERS OF THE COMPENSATION COMMITTEE OR THE BOARD OF TRUSTEES. THE DISCUSSION, DELIBERATION, AND DECISION FOR ALL POSITIONS UNDER REVIEW BY THE COMPENSATION COMMITTEE IS RECORDED IN THE MINUTES OF THE COMMITTEE PREPARED BY THE PRESIDENT AND SIGNED BY THE CHAIR OF THE COMMITTEE FOR PRESENTATION AND APPROVAL AT THE NEXT MEETING OF THE COMMITTEE. THE FULL BOARD OF TRUSTEES RECEIVES AN ORAL REPORT OF THE COMMITTEE MEETING FROM THE COMMITTEE CHAIRMAN, GENERALLY WITHIN 24 HOURS OF THE COMPENSATION COMMITTEE MEETING. EVERY 3-5 YEARS THE FOUNDATION ENGAGES AN OUTSIDE INDEPENDENT CONSULTANT HIRED TO REVIEW COMPENSATION PRACTICES INCLUDING BASE AND TOTAL CASH COMPENSATION TO ENSURE SALARIES ARE COMPARABLE TO SIMILAR ORGANIZATIONS AND MARKET CONDITIONS. THE COMPENSATION COMMITTEE RELIED ON AGED SALARY DATA OBTAINED THROUGH THE COMPREHENSIVE COMPENSATION STUDY CONDUCTED BY INDEPENDENT CONSULTANT, PEARL MEYER, IN 2020, AND THE WAMSER 2021 UNIVERSITY AND FOUNDATION DEVELOPMENT OFFICE COMPENSATION STUDY TO REVIEW AND DETERMINE APPROPRIATE EXECUTIVE AND OTHER KEY POSITION COMPENSATION WITH THE FOUNDATION. ADDITIONALLY, A TARGETED COMPENSATION STUDY FOCUSING SPECIFICALLY ON COMPENSATION WITHIN THE INVESTMENTS JOB FAMILY WAS INITIATED AND CONDUCTED BY INDEPENDENT CONSULTANT, SULLIVAN COTTER, AND PRESENTED TO THE COMPENSATION COMMITTEE IN MAY, 2022 FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS MADE AVAILABLE TO THE PUBLIC: THE ARTICLES OF INCORPORATION FOR THE ORGANIZATION ARE AVAILABLE TO THE PUBLIC ON REQUEST FROM THE OFFICE OF THE SECRETARY OF STATE AND ARE FREQUENTLY REQUESTED AND SUPPLIED IN THE COURSE OF GRANT APPLICATIONS TO PRIVATE FOUNDATIONS AND CORPORATE FOUNDATIONS. THE BYLAWS ARE AVAILABLE ON REQUEST TO THE ORGANIZATION BY MEMBERS OF THE PUBLIC. THE CONFLICT OF INTEREST POLICY IS MAINTAINED WITHIN THE ORGANIZATION'S GENERAL POLICIES AND PROCEDURES AND HAS NOT BEEN PRESENTED TO THE PUBLIC IN ANY MANNER. HOWEVER, IF REQUESTED, THE ORGANIZATION'S CONFLICT OF INTEREST POLICY WOULD BE MADE AVAILABLE TO ANY MEMBER OF THE PUBLIC REQUESTING THIS INFORMATION. THE FOUNDATION PRODUCES AN ANNUAL REPORT WHICH INCLUDES THE STATEMENT OF FINANCIAL POSITION AND STATEMENT OF ACTIVITIES AND CHANGES IN NET ASSETS. THIS REPORT IS MAILED TO MANY DONORS. THE COMPLETE AUDITED FINANCIALS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS: LOSS DUE TO CHANGE OF DONOR PLEDGES $ (9,641,195) FORM 990, PART XII, LINE 2C CHANGES IN OVERSIGHT PROCESS OR SELECTION PROCESS: THERE HAVE BEEN NO CHANGES TO THE ORGANIZATION'S AUDIT COMMITTEE'S RESPONSIBILITIES. 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