2021-11-15T11:44:23-06:00 2020-12-31 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE SUITE 400 PLYMOUTH MEETING PA 19462 990 2020-01-01 237084339 GRADUATE MANAGEMENT ADMISSION COUNCIL GRAD 7036689600 11921 FREEDOM DRIVE NO 300 RESTON VA 20190 BEKI BAHAR-ENGLER CHIEF ADMINISTRATIVE OFFICER 7036689600 2021-11-15 1 BEKI BAHAR-ENGLER XXX-XX-XXXX CONNIE M LIRA P00481097 2156433900 2021-11-15 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z SANGEET CHOWFLA 11921 FREEDOM DRIVE NO 300 RESTON VA 20190 132506782 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 15 146 15 638624 294942 0 0 89754208 60437289 5562015 10345787 69336 1903300 95385559 72686376 482543 328678 0 0 30045872 28872770 0 0 0 70605519 46877937 101133934 76079385 -5748375 -3393009 203899196 227111983 29005139 43841461 174894057 183270522 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. 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 25422388 0 48055567 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 7,100 GRADUATE BUSINESS PROGRAMS AND 2,400 SCHOOLS GLOBALLY.THE GMAT EXAM HAS BEEN TRUSTED BY SCHOOLS FOR OVER 65 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. 752233 0 0 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. 26174621 328678 12560616 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.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. 52349242 1 0 0 1 0 0 0 0 0 0 1 0 0 1 1 1 0 0 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 102 0 146 1 1 1 1 UK HK IN CH 0 0 0 0 0 0 0 0 1 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 BEKI BAHAR-ENGLER 7036689600 11921 FREEDOM DRIVE STE 300 RESTON VA 20190 SANGEET CHOWFLA PRESIDENT & CEO 40.00 0.00 X X 1128035 0 49678 MARTIN BOEHM CHAIR ELECT TO JUN 2020, THEN CHAIR 1.00 0.00 X X 0 0 0 WILLIAM BOULDING CHAIR TO JUN 2020, THEN DIRECTOR 1.00 0.00 X X 0 0 0 RANJAN BANERJEE DIRECTOR 1.00 0.00 X 0 0 0 TOM BUIOCCHI DIRECTOR 1.00 0.00 X 0 0 0 JON ERICKSON DIRECTOR 1.00 0.00 X 0 0 0 LEILA GUERRA DIRECTOR 1.00 0.00 X 0 0 0 ERIKA JAMES DIRECTOR 1.00 0.00 X 0 0 0 PETER JOHNSON DIRECTOR 1.00 0.00 X 0 0 0 SANJIV KAPUR DIRECTOR 1.00 0.00 X 0 0 0 SOOJIN KWON DIRECTOR 1.00 0.00 X 0 0 0 JAY NIBBE DIRECTOR 1.00 0.00 X 0 0 0 ENASE OKONEDO DIRECTOR 1.00 0.00 X 0 0 0 DONNA RAPACCIOLI DIRECTOR 1.00 0.00 X 0 0 0 THEMIN SUWARDY DIRECTOR 1.00 0.00 X 0 0 0 PETER TUFANO DIRECTOR 1.00 0.00 X 0 0 0 ELLEN GLAZERMAN DIRECTOR - LEFT JUN 2020 1.00 0.00 X 0 0 0 ERIC HIRST DIRECTOR - LEFT JUN 2020 1.00 0.00 X 0 0 0 XIONGWEN LU DIRECTOR - LEFT JUN 2020 1.00 0.00 X 0 0 0 SRI ZAHEER DIRECTOR - LEFT JUN 2020 1.00 0.00 X 0 0 0 JOY JACKSON JONES CPO & GM, ASSESSMENTS 40.00 0.00 X 580678 0 49177 BETTY SU SR VP & GM, STUDENT RECRUITMENT SVCS 40.00 0.00 X 452072 0 34094 KEVIN LEFEW CHIEF TECHNOLOGY OFFICER 40.00 0.00 X 368496 0 28989 MAITE SALAZER CHIEF MARKETING OFFICER 40.00 0.00 X 338072 0 44236 ELDA BEKI BAHAR-ENGLER CHIEF ADMINISTRATIVE OFFICER 40.00 0.00 X 294271 0 18881 ASHISH BHARDWAJ SR VP, MARKET DEVELOPMENT 40.00 0.00 X 590377 0 0 ASHOK SARATHY VP, PRODUCT MANAGEMENT 40.00 0.00 X 399008 0 42473 SABRINA WHITE VP, SCHOOL & INDUSTRY ENGAGEMENT 40.00 0.00 X 407915 0 24978 JENNIFER MARTIN CHIEF OF STAFF 40.00 0.00 X 368988 0 44095 ROBIN EVERETT VP, LEGAL 40.00 0.00 X 336979 0 45225 VIBHA MILLER VP, HUMAN RESOURCES 40.00 0.00 X 340038 0 41773 MICHAEL NOLDER DIRECTOR DATA MANAGEMENT & ANALYTICS 40.00 0.00 X 226843 0 30449 SAMUEL REIMER FORMER CFO - LEFT NOV 2019 40.00 0.00 X 173865 0 0 6005637 0 454048 66 1 1 0 MINDSTREAM MEDIA LLC 100 WALNUT ST STE 112 PEORIA IL 61602 DIGITAL MEDIA CAMPAIGNS 845596 THE XELA GROUP LLC 1818 LIBRARY STREET SUITE 500 RESTON VA 20190 IT CONSULTING SERVICES 343559 NOOQLEO 12058 CHEVIOT DRIVE HERNDON VA 20170 MARKETING SERVICES AND CONSULTING 260240 EASTBANC TECHNOLOGIES LLC 1211 31ST STREET NW WASHINGTON DC 20007 IT SUPPORT FOR PREP AND CLOUD SERVICES 202601 PERKINS COIE 1201 THIRD AVE STE 4900 SEATTLE WA 98101 LEGAL SERVICES 140726 15 TEST OPERATIONS 900099 48055567 48055567 SCHOOL/STUDENT PRODUCTS 900099 10290453 10290453 MEDIA PRODUCTS 900099 1573641 935017 638624 PROFESSIONAL DEVELOPMENT 900099 517628 517628 60437289 4572565 4572565 65452780 59676335 3223 5776445 -3223 5773222 5773222 319742 140848 178894 178894 GAIN ON DEBT EXTINGUISHMENT 900099 1724406 1724406 1724406 72686376 59977559 638624 12070193 155350 155350 29946 29946 143382 143382 4418172 1718466 2699706 173865 86933 86932 19615161 13759485 5855676 782824 584747 198077 2501495 1664086 837409 1381253 832422 548831 387217 14286 372931 772436 772436 446624 446624 3940181 2976327 963854 2824015 2822372 1643 1215094 362704 852390 6018326 1058463 4959863 2200524 473641 1726883 166083 158412 7671 728523 724411 4112 262930 262930 706513 706513 252604 252604 TEST OPERATIONS 19395857 19395857 TEST DEVELOPMENT 3531198 3531198 MEDIA/STUDENT RECRUIT 1708736 1708736 STAFF TRAINING 188041 105808 82233 2133035 42210 2090825 76079385 52349242 23730143 0 29176257 21981874 3044301 2678257 1488823 12275 13854 2394875 2891657 15321277 11869646 4025308 3451631 128179136 162457195 8331096 5671134 5675168 5709144 23060780 20768414 203899196 227111983 16950308 13468094 7252712 5863715 20024193 96740 4802119 4388719 29005139 43841461 X 174894057 183270522 174894057 183270522 203899196 227111983 -3393009 11769474 0 X 1 X 0 1 0 X 94006594 91289062 90287591 89556966 60118407 425258620 94006594 91289062 90287591 89556966 60118407 425258620 0 0 0 425258620 2217977 2732876 3324655 3363163 4572565 16211236 2217977 2732876 3324655 3363163 4572565 16211236 148683 294942 443625 390 1724406 1724796 96224961 94021938 93612246 93068812 66710320 443638277 0.95860 0.97030 0.03650 0.02930 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: GAIN ON DEBT EXTINGUISHMENT - 2020 AMOUNT: $ 1,724,406. MISCELLANEOUS INCOME - 2016 AMOUNT: $ 390. 1000000 1000000 1500000 3296 3296 250000 250000 375000 7784568 4695895 3088673 4532183 4309767 222416 3004526 2863984 140542 3451631 CAPITALIZED TEST ITEMS 20450125 DEFERRED COMPENSATION PLAN 318289 20768414 DEFERRED LEASE OBLIGATIONS 4071943 DEFERRED COMPENSATION LIABILITY 316776 4388719 X PART X, LINE 2: THE COUNCIL IS EXEMPT FROM THE PAYMENT OF INCOME TAXES ON ITS EXEMPT ACTIVITIES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). THE INTERNAL REVENUE SERVICE (IRS) HAS DETERMINED THAT THE COUNCIL IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(2) OF THE IRC. THE COUNCIL IS REQUIRED TO REPORT UNRELATED BUSINESS INCOME TO THE IRS. 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. THE ORGANIZATION'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE, LOCAL, AND FOREIGN AUTHORITIES. 1 EUROPE 1 6 PROGRAM SERVICES CONDUCT EDUCATIONAL RESEARCH, PROVIDE SERVICES, AND FACILITATE INFORMATION EXCHANGE 1745873 EUROPE 1 13 PROGRAM SERVICES ONLINE PUBLISHER OF BUSINESS SCHOOLS NEWS, APPLICANT ADVICE AND CAREER INSPIRATIONS. 1318585 EAST ASIA & THE PACIFIC 1 4 PROGRAM SERVICES CONDUCT EDUCATIONAL RESEARCH, PROVIDE SERVICES, AND FACILITATE INFORMATION EXCHANGE WITHIN GREATER CHINA. 1004091 SOUTH ASIA 1 7 PROGRAM SERVICES CONDUCT EDUCATIONAL RESEARCH, PROVIDE SERVICES, AND FACILITATE INFORMATION EXCHANGE 1348708 SOUTH ASIA 1 10 PROGRAM SERVICES SELL NMAT AND RELATED TEST PREP RPDOUCTS, AND FACILITATE INFORMATION EXCHANGE. 2717031 EAST ASIA & THE PACIFIC 1 2 PROGRAM SERVICES CONDUCT EDUCATIONAL RESEARCH, PROVIDE SERVICES, AND FACILITATE INFORMATION EXCHANGE 1057142 NORTH AMERICA 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (ORGANIZATIONS) SPONSORSHIP FOR ANNUAL CONFERENCE 5500 EUROPE 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (ORGANIZATIONS) SPONSORSHIP FOR GLOBAL ACTIVITIES 125000 EUROPE 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (INDIVIDUALS) FEE WAIVER 558 MIDDLE EAST & NORTH AFRICA 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (INDIVIDUALS) FEE WAIVER 1168 NORTH AMERICA 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (INDIVIDUALS) FEE WAIVER 309 RUSSIA & NEIGHBORING STATES 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (INDIVIDUALS) FEE WAIVER 778 SOUTH AMERICA 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (INDIVIDUALS) FEE WAIVER 292 SOUTH ASIA 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (INDIVIDUALS) FEE WAIVER 1427 SUB-SAHARAN AFRICA 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (INDIVIDUALS) FEE WAIVER 3210 EAST ASIA & THE PACIFIC 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (INDIVIDUALS) FEE WAIVER 1654 EUROPE 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION (INDIVIDUALS) FEE WAIVER 3483 EAST ASIA & THE PACIFIC 0 0 INVESTMENTS 464459 6 42 0 0 6 42 9321930 477338 9799268 EUROPE SPONSORSHIP FOR GLOBAL ACTIVITIES 125000 WIRE N/A N/A NORTH AMERICA SPONSORSHIP FOR ANNUAL CONFERENCE 5500 WIRE N/A N/A 2 0 FEE WAIVER EAST ASIA AND THE PACIFIC 17 1654 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY 0 N/A FMV FEE WAIVER EUROPE 8 3483 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY 0 N/A FMV FEE WAIVER EUROPE 5 558 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY 0 N/A FMV FEE WAIVER MIDDLE EAST & NORTH AFRICA 12 1168 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY 0 N/A FMV FEE WAIVER NORTH AMERICA (EXCLUDES USA) 3 309 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY 0 N/A FMV FEE WAIVER RUSSIA AND NEIGHBORING STATES 8 778 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY 0 N/A FMV FEE WAIVER SOUTH AMERICA 3 292 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY 0 N/A FMV FEE WAIVER SOUTH ASIA 21 1428 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY 0 N/A FMV FEE WAIVER SUB-SAHARAN AFRICA 33 3211 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY 0 N/A FMV 0 0 0 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 III ACCOUNTING METHOD: 1 THE PHD PROJECT THREE CHESTNUT RIDGE ROAD MONTVALE NJ 07645 202610773 501(C)(3) 75000 N/A N/A TO HELP AFRICAN-AMERICANS, HISPANIC-AMERICANS AND NATIVE AMERICANS ATTAIN BUSINESS PHDS TO BECOME BUSINESS PROFESSORS AND MENTOR THE NEXT GENERATION. FORTE FOUNDATION 9600 ESCARPMENT 745 NO PMB72 AUSTIN TX 78749 611457145 501(C)(3) 50000 N/A N/A PROMOTING GMAC PRODUCTS, SERVICES, AND RESEARCH AND PROVIDING INDUSTRY SUPPORT. EXECUTIVE MBA COUNCIL 1 UNIVERSITY DRIVE ORANGE CA 92866 943095701 501(C)(3) 20000 N/A N/A PROMOTING GMAC PRODUCTS, SERVICES, AND RESEARCH AND PROVIDING INDUSTRY SUPPORT. AACSB INTERNATIONAL THE ASSOCIATION TO ADVANCE COLLEGIATE SCHOOLS OF BUSINE 777 S HARBOUR ISLAND BLVD NO 750 TAMPA FL 33602 436036286 501(C)(3) 10350 N/A N/A PROMOTING GMAC PRODUCTS, SERVICES, AND RESEARCH AND PROVIDING INDUSTRY SUPPORT. 4 0 FEE WAIVER 287 29946 0 FMV 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 0 0 0 0 0 0 0 0 0 SANGEET CHOWFLA PRESIDENT & CEO 534816 0 573719 0 19500 0 28406 0 21272 0 1177713 0 0 0 JOY JACKSON JONES CPO & GM, ASSESSMENTS 353573 0 207605 0 19500 0 22205 0 26972 0 629855 0 0 0 ASHISH BHARDWAJ SR VP, MARKET DEVELOPMENT 411604 0 178773 0 0 0 0 0 0 0 590377 0 0 0 BETTY SU SR VP & GM, STUDENT RECRUITMENT SVCS 294669 0 157403 0 0 0 19161 0 14933 0 486166 0 0 0 ASHOK SARATHY VP, PRODUCT MANAGEMENT 259888 0 139120 0 0 0 17270 0 25203 0 441481 0 0 0 SABRINA WHITE VP, SCHOOL & INDUSTRY ENGAGEMENT 261378 0 146537 0 0 0 15357 0 9621 0 432893 0 0 0 JENNIFER MARTIN CHIEF OF STAFF 250479 0 118509 0 0 0 15554 0 28541 0 413083 0 0 0 KEVIN LEFEW CHIEF TECHNOLOGY OFFICER 250844 0 100120 0 17532 0 15274 0 13715 0 397485 0 0 0 MAITE SALAZER CHIEF MARKETING OFFICER 270003 0 67409 0 660 0 17263 0 26973 0 382308 0 0 0 ROBIN EVERETT VP, LEGAL 229391 0 88088 0 19500 0 16684 0 28541 0 382204 0 0 0 VIBHA MILLER VP, HUMAN RESOURCES 195087 0 110396 0 34555 0 13232 0 28541 0 381811 0 0 0 ELDA BEKI BAHAR-ENGLER CHIEF ADMINISTRATIVE OFFICER 275998 0 18273 0 0 0 17525 0 1356 0 313152 0 0 0 MICHAEL NOLDER DIRECTOR DATA MANAGEMENT & ANALYTICS 186526 0 39890 0 427 0 12330 0 18119 0 257292 0 0 0 SAMUEL REIMER FORMER CFO - LEFT NOV 2019 0 0 173865 0 0 0 0 0 0 0 173865 0 0 0 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 & RISK COMMITTEE FOR REVIEW AND APPROVAL. EACH PARTY IS EXPECTED TO THOROUGHLY READ THE 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 & RISK COMMITTEE MEETING OR A MEETING BY EMAIL 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 2020. FORM 990, PART VI, SECTION C, LINE 19 GMAC MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FINANCIAL STATEMENTS ARE GENERALLY INCLUDED IN THE ANNUAL REPORT. 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