2023-08-14T07:48:03-05:00 2022-09-30 440160260 FORVIS LLP 1410 SPRING HILL ROAD SUITE 500 TYSONS VA 221023056 990 2021-10-01 520892064 UNIVERSITIES SPACE RESEARCH ASSOCIATION UNIV 4107302656 425 3RD STREET SW 950 WASHINGTON DC 20024 TODD BIDWELL CFO 4107302656 2023-08-11 1 TODD BIDWELL 999009999 AMY BIBBY P00445891 7039700400 2023-08-11 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z X JEFFREY ISAACSON 425 3RD STREET SW SUITE 950 WASHINGTON DC 20024 111291044 0 X WWW.USRA.EDU X 1969 DC ADVANCE THE SPACE AND AERONAUTICS RELATED SCIENCES AND EXPLORATION THROUGH INNOVATIVE RESEARCH, TECHNOLOGY, AND EDUCATION 15 14 562 0 0 0 147066460 110543728 486182 616923 26190 121000 9670 9393 147588502 111291044 34531046 24572556 0 0 69396902 55795862 0 0 0 42089942 30288038 146017890 110656456 1570612 634588 66030846 61609902 28722915 23716609 37307931 37893293 X TO PROVIDE A COLLABORATIVE MEMBERSHIP ORGANIZATION WHERE UNIVERSITIES AND OTHER RESEARCH ORGANIZATIONS MAY COOPERATE EFFECTIVELY WITH EACH OTHER, WITH THE UNITED STATES GOVERNMENT, AND OTHER ENTITIES TO DEVELOP KNOWLEDGE ASSOCIATED WITH SPACE SCIENCE AND TECHNOLOGY 0 0 22347704 510216 NASA ACADEMIC MISSION SERVICES (NAMS) CONTRACT TO DELIVER NEW CONCEPTS, TOOLS AND TECHNOLOGIES RELATED TO AERONAUTICS, SCIENCE AND AERO FLIGHT DYNAMICS. THIS FIVE-YEAR AGREEMENT FOR A $193 MILLION AWARD LAUNCHES AN INTEGRATED MULTI-YEAR RESEARCH EFFORT TO BE CONDUCTED AT NASA'S AMES RESEARCH CENTER, WHICH RANGES FROM FUNDAMENTAL RESEARCH AND DEVELOPMENT THROUGH FIELD TEST DEPLOYMENTS AND OPERATIONAL SCIENCE MISSIONS. 17509733 14306021 EDUCATION PROGRAMS (EAP & EPO): THE EDUCATION PROGRAM'S OFFICE PRIMARILY SUPPORTS NASA'S EFFORTS TO EXPAND EDUCATIONAL OPPORTUNITIES FOR STUDENTS IN AEROSPACE ENGINEERING AND THE SPACE SCIENCES, AS WELL AS ENCOURAGING YOUNG STUDENTS TO STAY IN SCHOOL AND PURSUE CAREERS IN SCIENCE, ENGINEERING, AND BUSINESS. 27811068 26149 STRATOSPHERIC OBSERVATORY FOR INFRARED ASTRONOMY (SOFIA): SOFIA IS AN AIRBORNE OBSERVATORY THAT STUDIES THE UNIVERSE IN THE INFRARED SPECTRUM. BESIDES THIS CONTRIBUTION TO SCIENCE PROGRESS, SOFIA IS A MAJOR FACTOR IN THE DEVELOPMENT OF OBSERVATIONAL TECHNIQUES, OF NEW INSTRUMENTATIONS, AND IN THE EDUCATION OF YOUNG SCIENTISTS AND TEACHERS IN THE DISCIPLINE OF INFRARED ASTRONOMY. SOFIA FLIES INTO THE STRATOSPHERE, OPENS THE TELESCOPE CAVITY DOOR, AND POINTS ITS TELESCOPE AT THE HEAVENS MOST NIGHTS A WEEK IN THIS DECADE AND THE NEXT. 26816103 9730170 616923 GESTAR STANDS FOR GODDARD EARTH SCIENCES TECHNOLOGY AND RESEARCH. ITS SCOPE CUTS ACROSS EARTH SCIENCE DISCIPLINES AND INCLUDES ATMOSPHERIC STUDIES, HYDROLOGY, OCEAN AND CLIMATE RESEARCH. TO FACILITATE EXPERIMENTAL, ANALYTICAL AND THEORETICAL RESEARCH IN SUPPORT OF NASA'S STRATEGIC EARTH AND SPACE SCIENCE OBJECTIVES.NASA POSTDOCTORAL PROGRAM (NPP), A PRESTIGIOUS, NATIONAL-LEVEL EFFORT SUPPORTING ALL NASA MISSION DIRECTORATES AND CENTERS. NPP AWARDS FELLOWSHIPS TO HIGHLY QUALIFIED POSTDOCTORAL SCIENTISTS AND ENGINEERS, ENABLING THEM TO CONDUCT RESEARCH AND PARTICIPATE IN NASA MISSION ACTIVITIES AT VARIOUS LOCATIONS. THE NPP IS A VITAL MEANS BY WHICH NASA IDENTIFIES AND ENGAGES TALENTED EARLY-CAREER SCIENTISTS. IT ALSO PROVIDES AN IMPORTANT PIPELINE FOR DEVELOPING THE NASA WORKFORCE NEEDED FOR FUTURE CHALLENGES. DR. JEFFREY A. ISAACSON, USRA PRESIDENT AND CEO, COMMENTED, "ACHIEVING NASA'S GOALS FOR THE NPP REQUIRES AN ORGANIZATION WITH LONGSTANDING NASA RELATIONSHIPS, INSIGHT INTO RESEARCH PROJECTS AS THEY RELATE TO NASA'S MISSIONS AND LONG-TERM OBJECTIVES, AND STRONG CONNECTIONS TO THE UNIVERSITY RESEARCH COMMUNITY. USRA IS IDEALLY SUITED FOR THIS IMPORTANT CHARGE."RESEARCH INSTITUTE FOR ADVANCED COMPUTER SCIENCE (RIACS): THE RIACS IS FOCUSED ON DEVELOPING THE NEXT GENERATION ENABLING TECHNOLOGIES THAT WILL FACILITATE BOTH HUMAN AND ROBOTIC SPACE EXPLORATION. SINCE ITS INCEPTION IN 1983, THE INSTITUTE HAS CONDUCTED BASIC AND APPLIED COMPUTER SCIENCE RESEARCH ACROSS A VARIETY OF AEROSPACE-RELATED DISCIPLINES, INCLUDING SUPERCOMPUTING, COMPUTATIONAL FLUID DYNAMICS, COMPUTATIONAL CHEMISTRY, HIGH-PERFORMANCE NETWORKING, AND ARTIFICIAL INTELLIGENCE.LUNAR & PLANETARY INSTITUTE (LPI): SUPPORTS NASA'S RESEARCH IN LUNAR, PLANETARY, AND RELATED SCIENTIFIC FIELDS. THE INSTITUTE IS A CENTER FOR LUNAR AND PLANETARY SCIENCE, CONDUCTING RESEARCH STUDIES ON THE FORMATION, EVOLUTION, AND CURRENT STATE OF THE MOON, PLANETS, COMETS, ASTEROIDS, PLANETARY SATELLITES, COSMIC DUST, AND OUR SOLAR SYSTEM AS A WHOLE THROUGH ANALYSIS OF DATA AND SAMPLES OBTAINED THROUGH NASA'S LONG HISTORY OF MISSIONS AND EXPLORATION, SERVICE TO NASA AND THE PLANETARY SCIENCE COMMUNITY. THE INSTITUTE COORDINATES SCIENTIFIC MEETINGS ON LUNAR AND PLANETARY TOPICS, AND DISSEMINATES SCIENTIFIC INFORMATION THROUGH TECHNICAL JOURNALS AND CONFERENCES, INCLUDING AN ABSTRACT DATABASE OF MORE THAN 25,000 PRESENTATIONS MADE BY SCIENTISTS AT LPI-SPONSORED MEETINGS. THE INSTITUTE ALSO CURATES AN EXTENSIVE COLLECTION OF LUNAR AND PLANETARY DATA THAT IS ACCESSIBLE ONLINE.NATIONAL SPACE SCIENCE AND TECHNOLOGY CENTER (NSSTC): THE DIVISION OF EARTH SCIENCES SUPPORTS NASA'S RESEARCH TO SEEK A BETTER UNDERSTANDING OF THE GLOBAL HYDROLOGIC CYCLE AND ITS INTERACTION WITH CLIMATE VARIABILITY. USRA IS ASSISTING WITH THE INTEGRATION OF RESEARCH PROGRAMS WITH THE EDUCATIONAL NEEDS OF CLIMATE AND GLOBAL CHANGE SCIENCE CURRICULA AT THE COLLEGE AND PRE-COLLEGE LEVELS TO COMMUNICATE THE IMPORTANCE AND CHALLENGES RELATING TO THE INTERACTIONS OF THE HYDROLOGIC CYCLE WITH CLIMATE AND CLIMATE VARIABILITY.EXPLORATION SYSTEMS TECHNOLOGY RESEARCH SUPPORTS RESEARCH FOR NASA GLENN RESEARCH CENTER'S EXPLORATION SYSTEMS (NCSER): TECHNOLOGY DEVELOPMENT PROGRAMS AND PROVIDES SUPPORT FOR ISS MICROGRAVITY RESEARCH. THIS PROGRAM INVOLVES THE DEVELOPMENT OF ENABLING TECHNOLOGIES FOR SPACE EXPLORATION WITH EMPHASIS ON REDUCED GRAVITY APPLICATIONS OF FLUIDS SYSTEMS AND FIRE SAFETY AND PERFORMS CRITICAL PATH RESEARCH IN FLUIDS AND COMBUSTION IN SUPPORT OF NASA'S SPACE EXPLORATION PROGRAM AND RELATED NATIONAL INITIATIVES.EARTH FROM SPACE INSTITUTE (EFSI), FOCUSED ON SUPPORTING THE DEVELOPMENT OF LONG-TERM STRATEGIES FOR ENVIRONMENTAL SUSTAINABILITY AND CLIMATE ACTION HAS BEEN ESTABLISHED.CENTER FOR SPACE NUCLEAR RESEARCH (CSNR): THE CSNR IS OPERATED BY USRA IN COLLABORATION WITH THE IDAHO NATIONAL LABORATORY (INL). THE CSNR IS A FOCUS FOR ENGAGING UNIVERSITY SCIENTISTS IN RESEARCH AND DEVELOPMENT OF ADVANCED SPACE NUCLEAR SYSTEMS, INCLUDING SPACE POWER AND PROPULSION SYSTEMS AND RADIOISOTOPE POWER GENERATORS. 26816103 9730170 616923 94484608 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 0 0 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1991 0 1 562 1 0 0 0 0 0 0 0 0 0 0 0 0 X 15 14 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 CA DC MD VA X X TODD BIDWELL 4107302656 425 3RD STREET SW 950 WASHINGTON DC 20024 ALFRED KRABBE TRUSTEE 3.00 X 22150 0 0 BERRIEN MOORE BOARD VICE CHAIR 3.00 X X 44150 0 0 BOB MCCOY TRUSTEE 3.00 X 22650 0 0 BRIAN GILCHRIST TRUSTEE 3.00 X 27900 0 0 DAN BAKER TRUSTEE 3.00 X 26100 0 0 DAN HASTINGS TRUSTEE 3.00 X 12200 0 0 DANIEL HASTINGS TRUSTEE 3.00 X 5600 0 0 ELIZABETH LADA TRUSTEE 3.00 X 15550 0 0 JOHN MONTGOMERY BOARD CHAIR 3.00 X X 46500 0 0 KATHLEEN HOWELL TRUSTEE 3.00 X 23900 0 0 KIM WILLIAMS CHAIR, AUDIT & FINANCE COMMITTEE 3.00 X 28450 0 0 LESTER LYLES CHAIR, HOMELAND & NATIONAL SECURITY COMMITTEE 3.00 X 19900 0 0 LOU LANZEROTTI TRUSTEE 3.00 X 28650 0 0 ROBERT MCCOY CHAIR, COMPENSATION COMMITTEE 3.00 X 4350 0 0 TOM SOIFER TRUSTEE 3.00 X 17400 0 0 TRUELL HYDE CHAIR, GOVERNANCE, NOMINATIONS & MEMBERSHIP COMMIT 3.00 X 24150 0 0 WAYNE SCALES TRUSTEE 3.00 X 17800 0 0 JEFFREY ISAACSON PRESIDENT AND CEO 40.00 X X 775782 0 146564 MARY JEAN GREENWELL VP,FINANCE AND ADMIN,CFO 40.00 X 335133 0 38438 DAVID BELL DIRECTOR, NAMS & RIACS 40.00 X 326001 0 28816 BERNARD SEERY SVP,TECHNOLOGY R&D 40.00 X 379899 0 30014 GHASSEM ASRAR SVP, SCIENCE 40.00 X 322577 0 28665 JOAN SCHMELZ DIRECTOR, STI 40.00 X 269109 0 27387 MARGARET MEIXNER DIRECTOR, SOFIA 40.00 X 311245 0 35279 ORESTE REALE DIRECTOR, GESTAR 40.00 X 260146 0 33199 AMANDA SMITH HACKLER DIRECTOR, EDUCATION 40.00 X 207874 0 25334 CAROL L KORY DIRECTOR GEARS/CLD 40.00 X 269784 0 19469 LISA R GADDIS DIRECTOR LPI 40.00 X 271646 0 24680 ERIC WEAVER VP, HUMAN RESOURCES 40.00 X 283281 0 25275 WILLIAM REACH ASSOC DIRECTOR,SCIENCE OPS 40.00 X 255346 0 40602 KENNY CHEUNG SR MGR & PRINCIPAL ENGINEER 40.00 X 239942 0 25025 DENNIS FEERICK VP BUSINESS DEVELOPMENT 40.00 X 273264 0 27058 SURAIYA FARUKHI DIRECTOR COMMUNICATIONS 40.00 X 239363 0 20664 PATRICIA DOHERTY FORMER TRUSTEE 3.00 X 10700 0 0 RENU MALHOTRA FORMER TRUSTEE 3.00 X 43100 0 0 5461592 0 576469 229 1 1 0 CROWN CONSULTING INC 1400 KEY BLVD ARLINGTON VA 22209 SCIENTIFIC SUPPORT SERVICES 3186726 NATIONAL OCEANOGRAPHY CENTER EUROPEAN WAY SOUTHHAMPTON UK SCIENTIFIC SUPPORT SERVICES 2782081 MOSAIC ATM INC 540 FORT EVANS RD LEESBURG VA 20176 SCIENTIFIC SUPPORT SERVICES 1918339 RIGETTI & CO INC 2919 7TH STREET BERKELEY MD 94710 SCIENTIFIC SUPPORT SERVICES 1900332 SQUIRE PATTON BOGGS LLP 2550 M STREET NW WASHINGTON DC 20037 LEGAL SERVICES 1575990 29 2400 110506328 35000 110543728 COMMERCIAL CONTRACT REVENUE 541700 354620 354620 OTHER CONTRACT REVENUE 541700 262303 262303 616923 89106 89106 31894 0 31894 31894 31894 OTHER INCOME 900099 9393 9393 9393 111291044 616923 0 130393 X 24572556 24572556 3912064 3323707 588357 41298560 35087445 6211115 3917618 3603544 314074 3440944 3058788 382156 3226676 2967994 258682 2436468 2436468 36301 36301 20915 20915 18889581 17485606 1403975 356439 105776 250663 1279112 192682 1086430 710590 710590 2019989 1864348 155641 1564770 1039150 525620 351534 351534 811314 811314 421456 105100 316356 RESEARCH EXPENSE 714042 713902 140 MISCELLANEOUS EXPENSES 247527 247527 SUPPLIES 134364 134364 RESEARCH SUPPLIES 105222 105222 188414 124424 63990 110656456 94484608 16171848 0 9561920 7379984 30235112 29276682 742402 600930 31087545 13420292 18429431 17667253 7061981 6522726 0 162327 66030846 61609902 17842623 12912901 68099 9136610 8733258 272896 239373 1470786 1762978 28722915 23716609 X 36671779 37320305 636152 572988 37307931 37893293 66030846 61609902 X 634588 -738332 689106 X X 0 1 X 1 1 1 X 157502294 157400219 150544086 147066460 110543728 723056787 157502294 157400219 150544086 147066460 110543728 723056787 723056787 39938 171140 125618 102522 89106 528324 1419 32988 27110 9671 9393 80581 723665692 0.99920 0.99900 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 53382 53382 110603074 110656456 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 125100 23593 7990 53382 210065 250000 250000 250000 250000 1000000 1500000 300000 300000 300000 300000 300000 300000 300000 300000 0.00000 0.00000 1.00000 0 0 5142611 5142611 19181396 9803030 9378366 623207 125845 497362 6140331 3491417 2648914 17667253 BILLINGS IN EXCESS OF COST 994570 DEFERRED COMP PLAN LIABILITY 820914 BOND ISSUE COSTS -52506 1762978 X 111220903 -738332 689106 -49226 111270129 20915 20915 111291044 110635541 0 110635541 20915 20915 110656456 PART V, LINE 4: THE ORGANIZATION'S ENDOWMENT SHALL BE USED FOR THE BENEFIT OF THE STUDENTS AND EARLY CAREER LUNAR SCIENTISTS. FUNDS DISTRIBUTED FROM THE ENDOWMENT SHALL BE USED TO SUPPORT TRAVEL FOR STUDENTS AND EARLY CAREER SCIENTISTS TO PARTICIPATE IN LUNAR SCIENCE CONFERENCES AND WORKSHOPS, NOTABLY THOSE UNDER THE AUSPICES OF THE LUNAR EXPLORATION ANALYSIS GROUP. PART X, LINE 2: THE ORGANIZATION HAS BEEN RECOGNIZED BY THE INTERNAL REVENUE SERVICE AS TAX-EXEMPT UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. NO PROVISION FOR INCOME TAXES IS REQUIRED FOR THE YEARS ENDED SEPTEMBER 30, 2022 AND 2021 SINCE THE ORGANIZATION HAD NO TAXABLE INCOME FROM UNRELATED BUSINESS ACTIVITIES. THE ORGANIZATION HAS DETERMINED THAT THERE ARE NO MATERIAL UNRECOGNIZED TAX BENEFITS OR OBLIGATIONS AS OF SEPTEMBER 30, 2022 AND 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: UNREALIZED GAIN/(LOSS) ON INTEREST RATE SWAP 689,106. EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 53 PROGRAM SERVICES SCIENTIFIC RESEARCH 558030 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 27 PROGRAM SERVICES SCIENTIFIC RESEARCH 96172 NORTH AMERICA 0 4 PROGRAM SERVICES SCIENTIFIC RESEARCH 15562 SOUTH AMERICA 0 24 PROGRAM SERVICES SCIENTIFIC RESEARCH 133222 0 108 0 0 0 108 802986 0 802986 0 0 0 0 0 0 PART III ACCOUNTING METHOD: 1 STIPENDS AND SCHOLARSHIPS FOR PROGRAM ACTIVITIES 2431 24572556 PART I, LINE 2 THE ASSOCIATION DISTRIBUTES SCHOLARSHIPS AND AWARDS TO STUDENTS WHO MEET THE CRITERIA SET OUT IN THE PROGRAM. THERE IS NO ADDITIONAL MONITORING REQUIRED. X X 1 1 X X X X X X 0 1 0 1 0 0 0 0 0 JEFFREY ISAACSON PRESIDENT AND CEO 409337 0 328448 0 37997 0 127905 0 18659 0 922346 0 0 0 BERNARD SEERY SVP,TECHNOLOGY R&D 260639 0 88023 0 31237 0 28682 0 1332 0 409913 0 0 0 MARY JEAN GREENWELL VP,FINANCE AND ADMIN,CFO 222792 0 84019 0 28322 0 25145 0 13293 0 373571 0 0 0 DAVID BELL DIRECTOR, NAMS & RIACS 258322 0 39216 0 28463 0 27484 0 1332 0 354817 0 0 0 GHASSEM ASRAR SVP, SCIENCE 245638 0 40845 0 36094 0 26776 0 1889 0 351242 0 0 0 MARGARET MEIXNER DIRECTOR, SOFIA 250182 0 28234 0 32829 0 27412 0 7867 0 346524 0 0 0 ERIC WEAVER VP, HUMAN RESOURCES 222435 0 44438 0 16408 0 23700 0 1575 0 308556 0 0 0 DENNIS FEERICK VP BUSINESS DEVELOPMENT 238566 0 12909 0 21789 0 25819 0 1239 0 300322 0 0 0 JOAN SCHMELZ DIRECTOR, STI 217716 0 48257 0 3136 0 13367 0 14020 0 296496 0 0 0 LISA R GADDIS DIRECTOR LPI 210913 0 23500 0 37233 0 23500 0 1180 0 296326 0 0 0 WILLIAM REACH ASSOC DIRECTOR,SCIENCE OPS 214695 0 12329 0 28322 0 22203 0 18399 0 295948 0 0 0 ORESTE REALE DIRECTOR, GESTAR 176993 0 30914 0 52239 0 20334 0 12865 0 293345 0 0 0 CAROL L KORY DIRECTOR GEARS/CLD 160000 0 27900 0 81884 0 18444 0 1025 0 289253 0 0 0 KENNY CHEUNG SR MGR & PRINCIPAL ENGINEER 206144 0 8700 0 25098 0 23084 0 1941 0 264967 0 0 0 SURAIYA FARUKHI DIRECTOR COMMUNICATIONS 165765 0 43871 0 29727 0 19023 0 1641 0 260027 0 0 0 AMANDA SMITH HACKLER DIRECTOR, EDUCATION 164807 0 23180 0 19887 0 17788 0 7546 0 233208 0 0 0 RENU MALHOTRA FORMER TRUSTEE 43100 0 0 0 0 0 0 0 0 0 43100 0 0 0 PATRICIA DOHERTY FORMER TRUSTEE 10700 0 0 0 0 0 0 0 0 0 10700 0 0 0 PART I, LINE 1A USRA OFFERS UP TO $250/YEAR REIMBURSEMENT FOR HEALTH BENEFITS EXPENSES (SHOES, GYM MEMBERSHIP, ETC). THESE REIMBURSEMENTS ARE INCLUDED IN TAXABLE COMPENSATION ON THE INDIVIDUAL W-2. USRA ALLOWS FIRST CLASS TRAVEL FOR THE CEO. PART I, LINE 3 ANNUALLY, THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS MARKET SALARY RATES, EMPLOYEE PERFORMANCE AND RECOMMENDS APPROVAL OF ANY MERIT INCREASE, NON-BASE INCENTIVE PAYMENT, OR CHANGE IN BENEFITS FOR THE CHIEF EXECUTIVE OFFICER TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE CHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES ALSO PROVIDES FOR ANNUAL REVIEW AND VOTE TO APPROVE ALL MERIT INCREASES, WITH SPECIFIC REVIEW OF ANY OFFICER COMPENSATION CHANGES. THE EXECUTIVE COMMITTEE VOTES ON ANY RECOMMENDED INCREASE. THE COMPENSATION COMMITTEE ALSO VOTES ON RECOMMENDED MERIT COMPENSATION CHANGES FOR ALL EMPLOYEES. FOR EMPLOYEES REPORTING DIRECTLY TO THE CEO, THE COMPENSATION COMMITTEE PLAYS AN "ADVISE AND CONSENT" ROLE FOR OTHER CHANGES IN REMUNERATION WHICH REQUIRE THE APPROVAL OF THE PRESIDENT. ANY COMPENSATION CHANGES INVOLVE MARKET LEVEL ANALYSIS AND ARE MEASURED THROUGH PUBLISHED COMPENSATION SURVEYS AND INDIVIDUAL DATA FROM PEER ORGANIZATIONS, NONPROFITS, BUT ALSO INCLUDING FOR-PROFIT ORGANIZATIONS WHOSE MISSION REQUIRES EMPLOYEES WITH SIMILAR SKILLS AND EXPERIENCE TO OUR ORGANIZATION. BASE SALARIES ARE REVIEWED ANNUALLY, WITH ANY INCREASE DEPENDING ON BOTH THE MOVEMENT IN MARKET SALARY RATES, EMPLOYEE PERFORMANCE AND AVAILABLE BUDGET.THE CHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES PROVIDES FOR ANNUAL REVIEW AND VOTE TO APPROVE ALL MERIT INCREASES, WITH SPECIFIC REVIEW OF ANY OFFICER COMPENSATION CHANGES. PART I, LINE 4B THE ASSOCIATION PROVIDES A NONQUALIFIED DEFERRED COMPENSATION PLAN (457F) FOR THE CEO, JEFF ISAACSON. IN 2021, $100,000 WAS ACCRUED. PART I, LINE 5 THE PRESIDENT & CEO'S INCENTIVE COMPENSATION IS BASED ON A NUMBER OF PERFORMANCE GOALS AND MEASURES, INDICATIVE OF FULFILLING ORGANIZATION'S NON-PROFIT PURPOSE. A MARYLAND ECONOMIC DEVELOPMENT CORPORATION 521376562 2013-06-01 11825858 ACQUISTION AND RENOVATION OF COLUMBIA GATEWAY DRIVE LAND AND BUILDING 0 0 0 A 3092600 11825858 225000 11640390 2014 0 0 1 1 A 0 0 0 0 0 0 0 A 0 0 0 1 1 0 0 0 1 A 1 DATE REBATE COMPUTATION PERFORMED ISSUER NAME: MARYLAND ECONOMIC DEVELOPMENT CORPORATION DATE THE REBATE COMPUTATION WAS PERFORMED: 12/19/2018 FORM 990, PART VI, SECTION A, LINE 6 USRA HAS MEMBERS THAT ARE COMPRISED OF THE MEMBER UNIVERSITIES. FORM 990, PART VI, SECTION A, LINE 7A A COUNCIL, WHICH IS COMPRISED OF A REPRESENTATIVE FROM EACH MEMBER INSTITUTION, OVERSEES THE BOARD OF TRUSTEES AND IS RESPONSIBLE FOR VOTING FOR MEMBERS OF THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7B THE BOARD OF TRUSTEES, WHICH IS COMPRISED OF REPRESENTATIVES ELECTED FROM MEMBER INSTITUTIONS AND AT LARGE MEMBERS INCLUDING A QUALIFIED FINANCIAL EXPERT, ARE DELEGATED ALL AUTHORITIES FROM THE MEMBERS EXCEPT MODIFYING BY-LAWS AND ELECTING NEW TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B THE DRAFT FORM 990 IS REVIEWED IN DETAIL BY THE AUDIT COMMITTEE AND CHIEF FINANCIAL OFFICER. IT IS ALSO PROVIDED TO THE GOVERNING BODY BEFORE SUBMISSION. THE DOCUMENT IS POSTED ON A PASSWORD-PROTECTED INTERNAL WEB PAGE FOR BOARD REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C AT THE BEGINNING OF EACH BOARD OF TRUSTEES MEETING, THE BOARD REVIEWS USRA'S CONFLICT OF INTEREST POLICY AND EACH TRUSTEE PRESENT SUBMITS A CONFLICT OF INTEREST DISCLOSURE FORM. THE CONFLICT OF INTEREST POLICY IS APPLICABLE TO EMPLOYEES. USRA PROVIDES IN ITS EMPLOYEE HANDBOOK THAT ALL EMPLOYEES WILL IDENTIFY ANY OUTSIDE EMPLOYMENT, FINANCIAL INTEREST, OR RELATIONSHIPS THAT MIGHT CONFLICT WITH THE BEST INTEREST OF USRA AND THAT THEY WILL NOT USE PROPRIETARY INFORMATION FOR PERSONAL GAIN OR TO THE DETRIMENT OF THE ORGANIZATION. IN THE EVENT A POTENTIAL CONFLICT IS IDENTIFIED, USRA REQUIRES THE INDIVIDUAL TO RECUSE THEMSELVES FROM PARTICIPATING IN ANY AFFECTED TRANSACTION OR GOVERNING BODY DELIBERATIONS AND DECISIONS, AND TO TAKE SUCH OTHER SITUATIONALLY APPROPRIATE COURSE NEEDED TO MITIGATE OR AVOID THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 ANNUALLY, THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES REVIEWS MARKET SALARY RATES, EMPLOYEE PERFORMANCE AND RECOMMENDS APPROVAL OF ANY MERIT INCREASE, NON-BASE INCENTIVE PAYMENT, OR CHANGE IN BENEFITS FOR THE CHIEF EXECUTIVE OFFICER TO THE EXECUTIVE COMMITTEE OF THE BOARD OF TRUSTEES. THE CHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES ALSO PROVIDES FOR ANNUAL REVIEW AND VOTE TO APPROVE ALL MERIT INCREASES, WITH SPECIFIC REVIEW OF ANY OFFICER COMPENSATION CHANGES. THE EXECUTIVE COMMITTEE VOTES ON ANY RECOMMENDED INCREASE. THE COMPENSATION COMMITTEE ALSO VOTES ON RECOMMENDED MERIT COMPENSATION CHANGES FOR ALL EMPLOYEES. FOR EMPLOYEES REPORTING DIRECTLY TO THE CEO, THE COMPENSATION COMMITTEE PLAYS AN "ADVISE AND CONSENT" ROLE FOR OTHER CHANGES IN REMUNERATION WHICH REQUIRE THE APPROVAL OF THE PRESIDENT. ANY COMPENSATION CHANGES INVOLVE MARKET LEVEL ANALYSIS AND ARE MEASURED THROUGH PUBLISHED COMPENSATION SURVEYS AND INDIVIDUAL DATA FROM PEER ORGANIZATIONS, NONPROFITS, BUT ALSO INCLUDING FOR-PROFIT ORGANIZATIONS WHOSE MISSION REQUIRES EMPLOYEES WITH SIMILAR SKILLS AND EXPERIENCE TO OUR ORGANIZATION. BASE SALARIES ARE REVIEWED ANNUALLY, WITH ANY INCREASE DEPENDING ON BOTH THE MOVEMENT IN MARKET SALARY RATES, EMPLOYEE PERFORMANCE AND AVAILABLE BUDGET.THE CHARTER OF THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES PROVIDES FOR ANNUAL REVIEW AND VOTE TO APPROVE ALL MERIT INCREASES, WITH SPECIFIC REVIEW OF ANY OFFICER COMPENSATION CHANGES. FORM 990, PART VI, SECTION C, LINE 18 HTTPS://FACWEB.CENSUS.GOV/ FORM 990, PART VI, SECTION C, LINE 19 THE ASSOCIATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 888,060. MANAGEMENT AND GENERAL EXPENSES 1,277,272. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 2,165,332. SUB-CONTRACT EXPENSES: PROGRAM SERVICE EXPENSES 16,597,546. MANAGEMENT AND GENERAL EXPENSES 126,703. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 16,724,249. FORM 990, PART XI, LINE 9: UNREALIZED GAIN/(LOSS) ON INTEREST RATE SWAP 689,106. PART XII, LINE 2C THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.