2021-05-10T10:52:48-05:00 2020-06-30 BKD LLP 2700 Post Oak Blvd Ste 1500 HOUSTON TX 77056 990 2019-07-01 742245072 Texas A&M Foundation % JOHN HUSER TEXA 9798458161 401 George Bush Drive College Station TX 778402811 JOHN HUSER VP AND CFO 9798458161 2021-04-15 true John W Steffes P00186434 7134994600 2019 2022-09-23 18:48:47Z TYSON VOELKEL 401 GEORGE BUSH DRIVE COLLEGE STATION TX 778402811 928161369 false X TXAMFOUNDATION.COM X 1953 TX FUNDRAISING AND ASSET MANAGEMENT FOR THE BENEFIT OF TEXAS A&M UNIVERSITY AT COLLEGE STATION. 7 7 190 83 -9109749 0 129386108 136068968 0 0 116713529 144649938 3238594 1748161 249338231 282467067 106012519 89964246 0 0 21264110 22502521 56057 11003 22632237 33221027 37308966 160553713 149786736 88784518 132680331 2367008822 2465090742 278909890 325069948 2088098932 2140020794 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 50309549 50309549 DEPARTMENTAL SUPPORT: PROVIDE NEEDED FUNDS TO SUPPORT VARIOUS COLLEGE AND DEPARTMENTAL NEEDS AND ACTIVITIES THROUGH BOTH NON-ENDOWED FUNDS AND FUNDS GENERATED FROM ENDOWMENTS. 30011025 30011025 SCHOLARSHIPS/FELLOWSHIPS: PROVIDE FINANCIAL AID FOR BOTH UNDERGRADUATES AND GRADUATES WITH BOTH NON-ENDOWED SCHOLARSHIPS ANDFUNDS GENERATED FROM SCHOLARSHIP ENDOWMENTS. 9233663 9233663 FACULTY SUPPORT: PROVIDE FUNDING FOR FACULTY TEACHING AND RESEARCH WITH BOTH NON-ENDOWED FUNDS AND FUNDS GENERATED FROM ENDOWMENTS. 410009 410009 INSTITUTIONAL SUPPORT 410009 410009 89964246 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 193 0 true 190 true true true true BR DA HK JA false false false true true true 3 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 AZ AR CA DC IL KY ME MD MA MI MN MO NV NH NJ NY OH 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 658952 0 62161 JAMES J PALINCSAR SR VP FOR DEVELOPMENT 40.0 0.0 X 362706 0 64702 JOHN A HUSER VP & CFO 40.0 0.0 X 344676 0 71096 BENJAMIN K WALL CHIEF INVESTMENT OFFICER 40.0 0.0 X 299159 0 53109 JOSHUA BURGAN INVESTMENT DIRECTOR 40.0 0.0 X 274993 0 60867 ROY HARVEY II INVESTMENT DIRECTOR 40.0 0.0 X 272599 0 61980 WILLIAM L FUSSELMAN VP & GENERAL COUNSEL 40.0 0.0 X 230141 0 55788 GEORGE GRAINGER ASST. VP, STRATEGIC PLANNING 40.0 0.0 X 223977 0 51830 VIRGINIA L SCHLEMEYER VP FOR DEVELOPMENT SUPPORT 40.0 0.0 X 223485 0 43231 GLENN R PITTSFORD VP FOR GIFT PLANNING 40.0 0.0 X 213625 0 46217 KATHLEEN M GIBSON TRUSTEE 3.0 0.0 X 0 0 0 OTWAY DENNY JR TRUSTEE 3.0 0.0 X 0 0 0 JORGE A BERMUDEZ TRUSTEE 3.0 0.0 X 0 0 0 WILLIAM LEMMONS TRUSTEE 3.0 0.0 X 0 0 0 T RANDALL CAIN TRUSTEE 3.0 0.0 X 0 0 0 LOUIS PALETTA TRUSTEE 3.0 0.0 X 0 0 0 GINA LUNA TRUSTEE 3.0 0.0 X 0 0 0 3104313 0 570981 61 false true false GARDNER RUSSO 223 EAST CHESTNUT STREET LANCASTER PA 17602 INVESTMENT MANAGER 1164880 ADVENT LLC 2310 KLINE AVE FL 2 NASHVILLE TN 37211 ADVERTISING/BRANDING 793825 EDGEWOOD MGMT CO 350 PARK AVENUE 18TH FLOOR NEW YORK NY 10022 INVESTMENT MANAGER 789643 ARTISAN PARTNERS 875 E WISCONSIN AVE STE 800 MILWAUKEE WI 53202 INVESTMENT MANAGER 775603 ACADIAN SMALL CAP EM 260 FRANKLIN STREET BOSTON MA 02110 INVESTMENT MANAGER 617562 19 136068968 17091182 136068968 0 60452170 -13200748 73652918 0 1409291 1409291 10412 10412 0 10412 10412 719975843 9916228 637680876 8013426 82294967 1902802 84197768 4090999 80106769 0 0 0 0 0 0 0 0 0 Other Receipts 900099 328458 328458 328458 282467067 -9109749 155507848 89456917 89456917 0 507329 507329 0 2083791 1187624 896167 0 15371346 3329146 12042200 2319198 638040 1681158 1574089 268794 1305295 1154097 265224 888873 0 35174 10021 25153 221046 216664 4382 0 11003 11003 27721286 27721286 1386880 527311 859569 1877372 18084 1859288 651251 91684 559567 494380 145704 348676 0 620299 204684 415615 532284 80041 452243 0 128817 31174 97643 0 0 404558 140204 264354 159847 71436 88411 Bad Debt 2060620 2060620 GFR General Fundraising 264370 -2018 266388 Athletic Tickets 191610 2200 189410 Recruiting Expense 160980 53078 107902 398192 129252 268940 149786736 89964246 37190253 22632237 0 0 52225540 42430117 190435352 213331112 2009894 2372363 0 0 0 0 0 0 0 0 0 0 25507336 8050575 18997305 17456761 1500949028 1531885681 554661567 609406971 0 0 0 0 47730136 48207737 2367008822 2465090742 3633552 3270387 0 0 0 0 0 0 0 0 0 0 0 0 0 0 275276338 321799561 278909890 325069948 X 79235392 78662145 2008863540 2061358649 2088098932 2140020794 2367008822 2465090742 132680331 -80758469 X false true X true false X 127120843 142719552 191393321 129386108 136068968 726688792 0 0 127120843 142719552 191393321 129386108 136068968 726688792 92332325 634356467 23222244 22276309 29961382 42815584 62200331 180475850 0 0 907164642 0.69927 0.73395 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 89964246 89964246 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 14354 0 14354 250000 250000 250000 250000 1000000 1500000 19377372 X X X false 1621450072 58669567 36829634 23749719 37197599 36336236 1619665719 1595387578 74138809 42661161 24980178 31006082 34751216 1621450072 1459219409 70163151 146118261 24059843 28407477 27645923 1595387578 1269512085 82290980 180729207 21579882 26434173 25298808 1459219409 1276968798 72835980 -14543204 18199769 27434320 20115400 1269512085 0.02740 0.84510 0.12750 true false 8386311 0 8386311 14004583 5548532 8456051 3116442 2502043 614399 17456761 NON-MARKETABLE SECURITIES 609406971 F 609406971 0 HELD FOR OTHER CHARITABLE ORGS 264858106 OTHER LIABILITIES 202871 ANNUITIES & TRUSTS PAYABLE 56738584 321799561 X 172722823 -80758469 -80758469 253481292 28985775 28985775 282467067 120800961 120800961 28985775 28985775 149786736 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 OF 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. true Central America and the Caribbean INVESTMENTS 175568000 East Asia and the Pacific INVESTMENTS 8264000 Europe (Including Iceland and Greenland) INVESTMENTS 64614000 North America INVESTMENTS 29938000 South America Investments 3013426 Central America and the Caribbean Program Services BUSINESS MEETINGS 3714 North America Program Services BUSINESS MEETINGS 4628 Europe (Including Iceland and Greenland) Program Services FACULTY TRAVEL 15000 Russia and the Newly Independent States Program Services PROGRAM SERVICES 162300 Central America and the Caribbean Program Services STUDY ABROAD 63989 East Asia and the Pacific Program Services STUDY ABROAD 43784 Europe (Including Iceland and Greenland) Program Services STUDY ABROAD 176526 Middle East and North Africa Program Services STUDY ABROAD 1000 North America Program Services STUDY ABROAD 16231 South America Program Services STUDY ABROAD 7933 Russia and the Newly Independent States Program Services STUDY ABROAD 6667 Sub-Saharan Africa Program Services STUDY ABROAD 5400 South Asia Program Services STUDY ABROAD 8499 Central America and the Caribbean Program Services CONTRIBUTIONS 8769477 East Asia and the Pacific Program Services CONTRIBUTIONS 22691 Europe (Including Iceland and Greenland) Program Services CONTRIBUTIONS 273401 North America Program Services CONTRIBUTIONS 51245 South America Program Services CONTRIBUTIONS 700 Middle East and North Africa Program Services CONTRIBUTIONS 330175 South Asia Program Services CONTRIBUTIONS 583 281904598 9456771 291361369 Central America and the Caribbean STUDY ABROAD 63989 East Asia and the Pacific STUDY ABROAD 43784 Europe (Including Iceland and Greenland) STUDY ABROAD 176526 North America STUDY ABROAD 16231 Russia and the Newly Independent States STUDY ABROAD 6667 Sub-Saharan Africa STUDY ABROAD 5400 South America STUDY ABROAD 7933 South Asia STUDY ABROAD 8499 Europe (Including Iceland and Greenland) FACULTY TRAVEL 15000 Russia and the Newly Independent States PROGRAM SERVICES 162300 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 50147249 DEPARTMENTAL SUPPORT TEXAS A&M UNIVERSITY C/O TEXAS AM FOUNDATION 401 GEORGE BUSH DRIVE COLLEGE STATION TX 778402811 746000531 STATE OF TX 29680995 SCHOLARSHIPS & FELLOWSHIPS TEXAS A&M UNIVERSITY C/O TEXAS AM FOUNDATION 401 GEORGE BUSH DRIVE COLLEGE STATION TX 778402811 746000531 STATE OF TX 9218663 FACULTY SUPPORT TEXAS A&M UNIVERSITY C/O TEXAS AM FOUNDATION 401 GEORGE BUSH DRIVE COLLEGE STATION TX 778402811 746000531 STATE OF TX 410007 INSTITUTIONAL SUPPORT 1 SCHEDULE I, PART I, LINE 2 MONITORING USE OF GRANT FUNDS IN THE UNITED STATES 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 FUNDS, AND TO PROVIDE RECEIPTS AND INVOICES WHEN APPLICABLE. X X false true X X X X true false false false false false false true true true TYSON T VOELKEL PRESIDENT & CEO 472558 0 176250 0 10144 0 51000 0 11161 0 721113 0 0 0 JAMES J PALINCSAR SR VP FOR DEVELOPMENT 291915 0 66600 0 4191 0 47253 0 17449 0 427408 0 0 0 JOHN A HUSER VP & CFO 273783 0 63000 0 7893 0 47940 0 23156 0 415772 0 0 0 WILLIAM L FUSSELMAN VP & GENERAL COUNSEL 187256 0 42075 0 810 0 33745 0 22043 0 285929 0 0 0 BENJAMIN K WALL CHIEF INVESTMENT OFFICER 218487 0 0 0 80672 0 34573 0 18536 0 352268 0 0 0 ROY HARVEY II INVESTMENT DIRECTOR 214175 0 57938 0 486 0 38824 0 23156 0 334579 0 0 0 JOSHUA BURGAN INVESTMENT DIRECTOR 216623 0 57938 0 432 0 38824 0 22043 0 335860 0 0 0 GEORGE GRAINGER ASST. VP, STRATEGIC PLANNING 201841 0 18572 0 3564 0 35297 0 16533 0 275807 0 0 0 GLENN R PITTSFORD VP FOR GIFT PLANNING 190023 0 19411 0 4191 0 33156 0 13061 0 259842 0 0 0 VIRGINIA L SCHLEMEYER VP FOR DEVELOPMENT SUPPORT 195670 0 24251 0 3564 0 33151 0 10080 0 266716 0 0 0 SCHEDULE J, PART I, LINE 1A JOHN HUSER RECEIVED A PORTION OF HIS RELOCATION BONUS IN 2019 THAT HAD ORIGINALLY BEEN OUTLINED AS MOVING ALLOWANCE IN 2017 WHEN OFFERED EMPLOYMENT PRIOR TO TAX LAW CHANGES THAT ELIMINATED DEDUCTIBLE MOVING ALLOWANCES. THE TEXAS A&M FOUNDATION GROSSED UP THE BONUS PAYMENT IN LIEU OF A MOVING ALLOWANCE TO COVER THE PAYROLL RELATED TAXES THAT OTHERWISE WOULD HAVE BEEN NETTED. THE AMOUNT WAS REPORTED AS TAXABLE COMPENSATION. SOCIAL CLUB DUES PAID BY TEXAS A&M FOUNDATION ARE REPORTED AS TAXABLE FRINGE BENEFITS ON APPLICABLE FORM W2 FOR TYSON VOELKEL. SCHEDULE J, PART I, LINE 1B THE BOARD SPECIFICALLY APPROVED THE SOCIAL CLUB DUES FRINGE BENEFIT FOR OUR PRESIDENT. SCHEDULE J, PART I, LINE 4A SEVERANCE WAS SUBJECT TO SUCCESSFUL COMPLETION OF SEVERAL DEPARTURE TRANSITION RESPONSIBILITIES AND AGREEMENT TO ADHERE TO GENERAL CONFIDENTIALITY STANDARDS. BENJAMIN WALL RECEIVED SEVERANCE PAYMENT OF $71,308. 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. VIRGINIA SCHLEYEMER - $3,000 GEORGE GRAINGER - $10,000 GLENN PITTSFORD - $5,000 SCHEDULE J, PART I, LINE 8 TYSON VOELKEL RECEIVED $75,000 INCLUDED IN THE REPORTED TAXABLE COMPENSATION, PURSUANT TO TERMS OF HIS INITIAL EMPLOYMENT CONTRACT THAT PROVIDED FOR INCENTIVES BASED ON SPECIFIC PERFORMANCE ACCOMPLISHMENTS. X 167 14457361 AVG HI/LO ON GIFT DT X 8 1341613 TRUST NPV X 2 1055000 APPRAISAL X 1 180000 APPRAISAL X 4 5 NOMINAL VALUE X GIFT IN KIND - WINE 1 2311 RETAIL PRICE X LIFE INSURANCE 1 54892 NET CASH VALUE false true true SCHEDULE M, PART I, LINE 32B THIRD PARTY USE FOR REAL ESTATE PARCELS, THE FOUNDATION USUALLY LISTS THE PROPERTY WITH A LOCAL PROFESSIONAL REAL ESTATE BROKER TO FACILITATE SALES. 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 11 FORM 990 REVIEW PROCESS DISCUSSION OF THE FORM 990 WAS AN AGENDA ITEM AT THE MARCH 2021 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 NOT DIFFICULT 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 15 THE COMPENSATION COMMITTEE OF THE ORGANIZATION REVIEWS AND APPROVES TOTAL COMPENSATION OF ALL OFFICERS, THE VICE PRESIDENT OF DEVELOPMENT SUPPORT, THE CHIEF INVESTMENT OFFICER, AND DIRECTORS OF INVESTMENTS. 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 THREE 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 REMAINING OFFICERS, THE VICE PRESIDENT OF DEVELOPMENT SUPPORT, CHIEF INVESTMENTS OFFICER, NOR DIRECTORS OF INVESTMENTS 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, THE VICE PRESIDENT OF DEVELOPMENT SUPPORT, CHIEF INVESTMENTS OFFICER, NOR DIRECTORS OF INVESTMENTS 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 & TOTAL CASH COMPENSATION TO ENSURE SALARIES ARE COMPARABLE TO SIMILAR ORGANIZATIONS AND MARKET CONDITIONS. DURING 2019-2020 INDEPENDENT CONSULTANT, PEARL MEYER, CONDUCTED A COMPREHENSIVE STUDY FOCUSING ON EXECUTIVE, INVESTMENT, AND OTHER KEY POSITION COMPENSATION WITHIN OUR ORGANIZATION. RESULTS WERE PROVIDED AND PRESENTED IN MAY, 2020. 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 XII, LINE 2C CHANGES IN OVERSIGHT PROCESS OR SELECTION PROCESS THERE HAVE BEEN NO CHANGES TO THE ORGANIZATION'S AUDIT COMMITTEE'S RESPONSIBILITIES. PILLAR II-B LP 207 SOUTH STREET 5TH FLOOR BOSTON MA 02111 832304909 PORTFOLIO MGMT DE TAMF EXCLUDED -221605 3132860 false 0 false 0.78084 SYSTEM HIGH COINVEST SPV LP 4445 WILLARD AVE SUITE 950 CHEVY CHASE MA 20815 833424310 PORTFOLIO MGMT DE TAMF EXCLUDED 81261 2995125 false 0 false 0.66667 VPC ONSHORE SPECIALTY FINANCE FUND III 150 NORTH RIVERSIDE PLAZA SUITE 52 CHICAGO IL 60606 843340493 PORTFOLIO MGMT DE TAMF EXCLUDED -135598 16673489 false 10703 false 0.79456 CHARITABLE REMAINDER TRUSTS (37) TRUST TX NA TRUST false false true false false false false false false false false false false false false false false false false true PILLAR II-B LP B 3375000 BOOK VALUE SYSTEM HIGH COINVEST SVP LP B 3000000 BOOK VALUE SYSTEM HIGH COINVEST SVP LP S 89636 BOOK VALUE VPC ONSHORE SPECIALTY FINANCE FUND III LP B 15000000 BOOK VALUE