2021-03-17T10:19:34-05:00 2020-06-30 366055558 GRANT THORNTON LLP 1000 WILSON BOULEVARD SUITE 1400 ARLINGTON VA 22209 990 2019-07-01 541603842 GEORGE MASON UNIVERSITY FOUNDATION INC GEOR 7039938850 4400 UNIVERSITY DRIVE MSN 1A3 FAIRFAX VA 220304444 MARY SUSAN VAN LEUNAN VP & CFO 7039938850 2021-03-16 1 MARY TORRETTA P00847851 7038477500 2019 2022-09-23 18:48:47Z TRISHANA BOWDEN 4400 UNIVERSITY DRIVE MSN 1A3 FAIRFAX VA 220304444 212544456 0 X HTTPS://GMUF.ORG X 1991 VA TO ADVANCE AND FURTHER THE AIMS AND PURPOSES OF GEORGE MASON UNIVERSITY. SEE SCHEDULE OTHE GEORGE MASON UNIVERSITY FOUNDATION, INC. WAS ESTABLISHED IN 1966 TO RECEIVE, MANAGE, INVEST, AND ADMINISTER PRIVATE GIFTS FOR THE BENEFIT OF THE UNIVERSITY, INCLUDING ENDOWMENT AND REAL PROPERTY. 43 40 0 50 2571519 1865974 132833181 92138223 10433669 10142253 7488799 8116200 3245328 3108409 154000977 113505085 62074785 73499403 0 0 1054161 1479263 0 0 574403 26162179 34893306 89291125 109871972 64709852 3633113 456968316 459289058 172713831 176359088 284254485 282929970 THE GEORGE MASON UNIVERSITY FOUNDATION, INC. WAS ESTABLISHED IN 1966 TO RECEIVE, MANAGE, INVEST, AND ADMINISTER PRIVATE GIFTS FOR THE BENEFIT OF THE UNIVERSITY, INCLUDING ENDOWMENT AND REAL PROPERTY. 0 0 106640806 73499403 10887607 THE FOUNDATION'S MAJOR PROGRAM ACTIVITY IS TO DISPERSE DESIGNATED FUNDS IN SUPPORT OF SCHOLARSHIPS, FELLOWSHIPS, AWARDS,AND GENERAL OPERATING EXPENSES OF THE UNIVERSITY'S ACADEMIC ANDOTHER DEPARTMENTS. 106640806 1 1 0 1 0 0 0 1 1 1 1 1 0 1 1 1 1 1 0 0 1 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 1 1 0 0 0 1 462 0 1 0 1 1 0 0 0 1 1 1 1 0 0 0 0 0 0 X 43 40 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AZ AR CA CO CT DC HI KY ME MD MA MI MN NH NJ NY OH OK OR SC UT VA WA WV WI AK X X MARY SUSAN VAN LEUNEN 7039938850 4400 UNIVERSITY DRIVE MSN1A3 FAIRFAX VA 220304444 MARY SUSAN VAN LEUNEN VICE PRESIDENT AND CFO 40.00 0.00 X X 164100 0 22447 TRACY WHITE DIR OF REAL ESTATE & INVESTMENTS 20.00 0.00 X 143200 0 0 ELIZABETH CANTRELL CONTROLLER 40.00 0.00 X 123707 0 36962 TRISHANA BOWDEN PRESIDENT 8.00 0.00 X X 66256 0 7359 TERRI COFER BEIRNE CHAIR 1.00 0.00 X X 0 0 0 JEFFREY A SMITH VICE CHAIR 1.00 0.00 X X 0 0 0 CAROLE J SCOTT SECRETARY 1.00 0.00 X X 0 0 0 MICHAEL E STIEVATER TREASURER 1.00 0.00 X X 0 0 0 ANNE HOLTON INTERIM UNIVERSITY PRESIDENT 0.50 0.00 X 0 0 0 THOMAS M DAVIS III EX-OFFICIO TRUSTEE 0.50 0.00 X 0 0 0 NANCY ROSE SENICH TRUSTEE 0.50 0.00 X 0 0 0 DANIEL R WOTRING TRUSTEE 0.50 0.00 X 0 0 0 CHRISTINA L WILLIAMS TRUSTEE 0.50 0.00 X 0 0 0 BRUCE D WARDINSKI TRUSTEE 0.50 0.00 X 0 0 0 VIJAY VENKATESWARAN TRUSTEE 0.50 0.00 X 0 0 0 LOURDES V VENES TRUSTEE 0.50 0.00 X 0 0 0 PAULINE THOMPSON TRUSTEE 0.50 0.00 X 0 0 0 SONYA J STONE TRUSTEE 0.50 0.00 X 0 0 0 SUSAN E SOZA TRUSTEE 0.50 0.00 X 0 0 0 MARGARET M JONES TRUSTEE 0.50 0.00 X 0 0 0 JOHN M JACQUEMIN TRUSTEE 0.50 0.00 X 0 0 0 KENNETH D REID TRUSTEE 0.50 0.00 X 0 0 0 JOSEPH J O'BRIEN JR TRUSTEE 0.50 0.00 X 0 0 0 ROBERT W NOONAN TRUSTEE 0.50 0.00 X 0 0 0 GARY G NAKAMOTO TRUSTEE 0.50 0.00 X 0 0 0 TREVOR J MONTANO TRUSTEE 0.50 0.00 X 0 0 0 M YAQUB MIRZA TRUSTEE 0.50 0.00 X 0 0 0 JENNIFER BURKHART LONDON TRUSTEE 0.50 0.00 X 0 0 0 PAUL E KYLE TRUSTEE 0.50 0.00 X 0 0 0 SUMEET SHRIVASTAVA TRUSTEE 0.50 0.00 X 0 0 0 RICHARD J BYRNE TRUSTEE 0.50 0.00 X 0 0 0 JEFFREY M JOHNSON TRUSTEE 0.50 0.00 X 0 0 0 JAMES J CONSAGRA TRUSTEE 0.50 0.00 X 0 0 0 JENNY E HERRERA TRUSTEE 0.50 0.00 X 0 0 0 KEVIN M HERN TRUSTEE 0.50 0.00 X 0 0 0 BRIAN J HAYS TRUSTEE 0.50 0.00 X 0 0 0 BENJAMIN H GRAHAM TRUSTEE 0.50 0.00 X 0 0 0 TIMOTHY H GILLIS TRUSTEE 0.50 0.00 X 0 0 0 NICOLE A GELLER TRUSTEE 0.50 0.00 X 0 0 0 CHRISTOPHER R DURLAK TRUSTEE 0.50 0.00 X 0 0 0 DENNIS J COTTER TRUSTEE 0.50 0.00 X 0 0 0 TERESA H CARLSON TRUSTEE 0.50 0.00 X 0 0 0 TODD R HOUSE TRUSTEE 0.50 0.00 X 0 0 0 NADEEM BUTLER TRUSTEE 0.50 0.00 X 0 0 0 SHARON P APRICENA TRUSTEE 0.50 0.00 X 0 0 0 ALI A SAADAT THRU 112519 TRUSTEE 0.50 0.00 X 0 0 0 497263 0 66768 3 1 1 0 MCGUIRE WOODS LLP 800 E CANAL ST RICHMOND VA 23219 LEGAL 416398 STORBECK PIMENTAL AND ASSOCIATES LP 1400 N PROVIDENCE RD STE 3500 MEDIA PA 19063 CONSULTING 155093 WP COMPANY LLC 1301 K ST NW WASHINGTON DC 20071 POLLING SERVICES 142928 3 13675 92124548 16868271 92138223 DIRECT-FINANCING LEASE INTEREST 531190 5459001 5459001 RENT FROM GMU 531190 4608852 4608852 RENT FROM PROVOST 531190 51600 51600 RENT FROM GMU INSTRUCTIONAL FND. 531190 22800 22800 10142253 4136201 242814 3893387 6913741 4585036 2328705 2328705 2328705 87635313 10797071 85269611 9182774 2365702 1614297 3979999 3979999 1950 13675 1950 0 TRUST AND OTHER INCOME 900099 779704 779704 779704 113505085 10921957 2571519 7873386 X 72320492 72320492 1178911 1178911 233810 233810 893295 880258 13037 137774 137774 134447 134447 79937 79937 326638 30807 280552 15279 169581 5875 163706 41196 796 40400 437585 437585 1883428 1873801 4595 5032 218954 212120 119 6715 618694 570307 21359 27028 600055 292716 60365 246974 1413099 1405714 7385 1990670 1946994 9813 33863 2417864 2277188 10781 129895 3894625 3894625 774069 763324 10745 101250 33086 68164 ACADEMIC SUPPORT 17447824 17447496 101 227 ADMINISTRATIVE SUPPORT 1681232 1577766 88542 14924 TRAINING AND PROF DEVEL 301697 264168 19135 18394 TAX EXPENSES 266010 266010 308835 278610 14975 15250 109871972 106640806 2656763 574403 31370 25814 25186252 26325644 66265442 21937837 357016 1014667 0 0 91953786 28773073 69718172 63180713 155187224 202976419 34949560 43672878 0 0 105273280 100155086 456968316 459289058 8988701 10544760 605384 561999 59116765 41614797 12883192 22756912 90099770 100514749 1020019 365871 172713831 176359088 X 33799842 30558173 250454643 252371797 284254485 282929970 456968316 459289058 X 3633113 -2738737 -2218891 X 0 1 X 1 0 X 73732177 62567864 68149389 132833181 92138224 429420835 73732177 62567864 68149389 132833181 92138224 429420835 152026668 277394167 8601057 7577632 8059261 11670322 10841477 46749749 442684 2422845 2136330 2412835 2571519 9986213 735422 650206 514665 498415 747304 3146012 489302809 59345384 0.56690 0.57020 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2015 AMOUNT: $ 735,422. 2016 AMOUNT: $ 650,206. 2017 AMOUNT: $ 514,665. 2018 AMOUNT: $ 498,415. 2019 AMOUNT: $ 747,304. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 41196 0 41196 0 106599610 0 106640806 0 1000000 0 250000 0 0 0 1000000 1000000 1000000 3000000 4500000 1794 102745 41196 145735 250000 250000 250000 750000 1125000 SCHEDULE C, PART II-A THE GEORGE MASON UNIVERSITY FOUNDATION, INC. PROVIDED GRANTS TO OTHER ORGANIZATIONS FOR PROFESSIONAL SERVICES RELATED TO LOBBYING FOR ISSUES IN HIGHER EDUCATION. 161652 X 0 0 1 X 99786858 43213152 -1043623 3918096 138038291 79069449 19188197 4138755 2609543 99786858 77692437 3231572 5806317 1783892 84946434 71566373 3239253 6125724 3238913 77692437 72245124 1819192 -103974 2393969 71566373 0.00010 0.99990 0 0 24780317 24780317 66064348 27757760 38306588 0 1109121 1015313 93808 0 63180713 ALTERNATIVE INVESTMENTS. 31935859 F MONEY MARKET FUNDS 11737019 F 43672878 BENEFICIAL INT IN PERP. TRUST 10765605 LEASING COMMISSIONS 426433 ART & ANTIQUES 161652 ACCRUED S/L RENT 3577714 OTHER ASSETS 1026977 NET INV. IN DIRECT FIN LEASE 84196705 100155086 UNEARNED RENT 345038 SECURITY DEPOSITS 20833 365871 X 112734703 -2738737 37845 2366145 -334747 113069450 437585 -1950 435635 113505085 114059218 37845 4586986 4624831 109434387 437585 437585 109871972 PART III, LINE 4: THE COLLECTION PROVIDES OPPORTUNITIES FOR THE UNIVERSITY'S STUDENTS TO LEARN AND TO GAIN AN APPRECIATION OF THE ARTWORK. PART IV, LINE 2B: THE FOUNDATION MAINTAINS CERTAIN ASSETS, PRIMARILY INVESTMENTS ON BEHALF OF SEVERAL LEGALLY AUTONOMOUS ORGANIZATIONS AND OTHER PROGRAMS ASSOCIATED WITH THE UNIVERSITY. PART V, LINE 4: THE BEGINNING BALANCE OF THE ENDOWMENT FUNDS FOR THE YEAR ENDED JUNE 30, 2019 HAS BEEN RESTATED AS $79,069,449. THIS DIFFERS FROM THE PRIOR YEAR'S ENDING BALANCE OF $84,946,434, REFLECTING THE REMOVAL OF PLEDGE AMOUNTS, AND IS CONSISTENT WITH THE AMOUNTS REPORTED IN NOTE G OF THE AUDITED FINANCIAL STATEMENTS. THE FOUNDATION'S ENDOWMENT CONSISTS OF APPROXIMATELY 530 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING ACADEMIC SUPPORT, EMINENT SCHOLARS, SCHOLARSHIPS, ATHLETICS, FACILITIES, LIBRARY, AND RESEARCH. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(3) AND IS CLASSIFIED BY THE INTERNAL REVENUE SERVICE ("IRS") AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE IRC. UNDER IRS PROVISIONS AND THE APPLICABLE INCOME TAX REGULATIONS OF THE COMMONWEALTH OF VIRGINIA, THE FOUNDATION IS EXEMPT FROM TAXES ON INCOME OTHER THAN UNRELATED BUSINESS INCOME. THE FOUNDATION FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE FOUNDATION HAS PROCESSES IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS, TO IDENTIFY AND REPORT UNRELATED INCOME, TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS, AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. THE TAX YEARS ENDED JUNE 30, 2017 THROUGH 2020 ARE STILL ELIGIBLE FOR REVIEW FOR BOTH FEDERAL AND STATE PURPOSES. THE FOUNDATION HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. INCOME TAX EXPENSE IS CLASSIFIED AS AN OPERATING EXPENSE WITHIN THE CONSOLIDATED STATEMENT OF FINANCIAL POSITION. PART XI, LINE 2D - OTHER ADJUSTMENTS: SPLIT INTEREST AGREEMENTS, CHANGE IN VALUE 341,675. GMUF ARLINGTON CAMPUS, EXPENSE (ALLOCATED) 4,585,036. GAIN ON TERMINATION OF LIFE INSURANCE POLICY 863,922. LOSS ON DEFEASANCE OF DEBT -2,553,488. LOSS ON VALUATION OF LAND HELD FOR SALE -871,000. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASS OF FUNDRAISING EXPENSE -1,950. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING EVENT EXPENSES 1,950. GMUF ARLINGTON CAMPUS, EXPENSE (ALLOCATED) 4,585,036. SOUTH AMERICA 0 0 PROGRAM SERVICES RESEARCH, TRAVEL 64097 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES RESEARCH, TRAVEL 5428 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES RESEARCH, TRAVEL 111080 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES RESEARCH, TRAVEL 1000 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES RESEARCH, TRAVEL 788 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 3261666 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 10216442 0 0 0 0 0 0 13660501 0 13660501 1 0 1 1 1 0 PART I, LINE 3: THE EXPENDITURES, PER REGION, ARE PRESENTED ON THE ACCRUAL BASIS OF ACCOUNTING. PART III ACCOUNTING METHOD: PC FALL GOLF 15625 13675 1950 1950 15625 13675 1950 1950 1950 0 1 GEORGE MASON UNIVERSITY 4400 UNIVERSITY DRIVE FAIRFAX VA 22030 540836354 170/115 8138152 SALARY SUPPORT GEORGE MASON UNIVERSITY 4400 UNIVERSITY DRIVE FAIRFAX VA 22030 540836354 170/115 2081792 BENEFITS SUPPORT GEORGE MASON UNIVERSITY 4400 UNIVERSITY DRIVE FAIRFAX VA 22030 540836354 170/115 8186330 SCHOLARSHIP SUPPORT GEORGE MASON UNIVERSITY 4400 UNIVERSITY DRIVE FAIRFAX VA 22030 540836354 170/115 20507221 OPERATIONS SUPPORT GEORGE MASON UNIVERSITY 4400 UNIVERSITY DRIVE FAIRFAX VA 22030 540836354 170/115 821211 EMINENT SCHOLARS MERCATUS CENTER 3434 N WASHINGTON BLVD ARLINGTON VA 22201 521328708 501(C)3 32386228 PROGRAM SUPPORT INSTITUTE FOR HUMANE STUDIES 3434 N WASHINGTON BLVD ARLINGTON VA 22201 941623852 501(C)3 89000 PROGRAM SUPPORT OFFICE OF THE ATTORNEY GENERAL FOR THE DISTRICT OF COLOMBIA 400 6TH ST NW WASHINGTON DC 20001 536001131 170/115 58058 FELLOWSHIP SUPPORT NORTHERN VIRGINIA COMMUNITY COLLEGE 4001 WAKEFIELD CHAPEL RD ANNANDALE VA 22003 541268263 170/115 52500 SCHOLARSHIP SUPPORT 5 SCHOLARSHIPS 686 1168021 RENEWAL APPLICATIONS 22 10890 PART I, LINE 2: THE GEORGE MASON UNIVERSITY FOUNDATION FOLLOWS ESTABLISHED DISBURSEMENT PROCEDURES THAT ENSURE ALL PAYMENTS ARE PROPERLY DOCUMENTED, SUPPORTED, AND RECORDED, APPROVED BY THE APPROPRIATE OFFICIALS AND MANAGEMENT, MADE FOR VALID PURPOSES THAT ARE REASONABLE AND NECESSARY, AND MADE IN COMPLIANCE WITH GOVERNMENT REGULATIONS. ALL DISBURSEMENTS OF DONOR RESTRICTED FUNDS ARE MADE IN ACCORDANCE WITH ANY PURPOSE RESTRICTIONS, FOR THE BENEFIT OF GEORGE MASON UNIVERSITY OR OTHER AFFILIATED EDUCATIONAL AND RESEARCH ORGANIZATIONS. THE FOUNDATION DISBURSES FUNDS TO GEORGE MASON UNIVERSITY AND OTHER AFFILIATED EDUCATIONAL AND RESEARCH ORGANIZATIONS FOR SCHOLARSHIPS, FELLOWSHIPS, AWARDS AND GENERAL OPERATING EXPENSES BASED ON ELIGIBILITY DECISIONS MADE BY THE FOUNDATION/UNIVERSITY AFFILIATED ENTITIES. X 1 1 X X X 0 0 0 0 0 0 0 0 0 MARY SUSAN VAN LEUNEN VICE PRESIDENT AND CFO 162681 0 0 0 1419 0 22447 0 0 0 186547 0 0 0 ELIZABETH CANTRELL CONTROLLER 123494 0 0 0 213 0 17140 0 19822 0 160669 0 0 0 SCHEDULE J, PART I, LINE 1A THE FOUNDATION PROVIDES CERTAIN SOCIAL CLUB MEMBERSHIPS FOR FUNDRAISING, DONOR CULTIVATION, OR OTHER BUSINESS PURPOSES. THE PERSONAL PORTION OF THE MEMBERSHIPS IS INCLUDED IN THE INDIVIDUALS' TAXABLE COMPENSATION. SCHEDULE J, PART I, LINE 3 THE COMPENSATION OF THE PRESIDENT OF THE FOUNDATION WAS REVIEWED AND APPROVED BY A COMMITTEE PER THE POLICIES OF THE DEPARTMENT OF HUMAN RESOURCES OF GEORGE MASON UNIVERSITY. THE COMPENSATION OF THE PRESIDENT OF THE FOUNDATION LISTED IN PART VII REFLECTS THE PORTION FUNDED BY THE FOUNDATION INDIVIDUALS ON THE COMMITTEE INCLUDE THE UNIVERSITY PRESIDENT, SENIOR VICE PRESIDENT OF ADMINISTRATION AND FINANCE, CHIEF OF STAFF, AND VICE PRESIDENT OF HUMAN RESOURCES AND PAYROLL. SALARY INFORMATION INCLUDING THE PREVIOUS INCUMBENT'S COMPENSATION, COMPENSATION OF THE SAME POSITION AT THE OTHER VIRGINIA DOCTORAL INSTITUTIONS, AS WELL AS SALARY SURVEY DATA OF GEORGE MASON UNIVERSITY'S PEER INSTITUTIONS AND COMPARABLE DC AREA UNIVERSITIES WAS REVIEWED TO DETERMINE REASONABLENESS OF SALARY. OTHER KEY EMPLOYEES' COMPENSATION IS REVIEWED AND APPROVED BY THE UNIVERSITY'S EQUITY OFFICE AND HUMAN RESOURCES COMPENSATION TEAM TO DETERMINE EQUITY THROUGHOUT THE UNIVERSITY, OTHER STATE AGENCIES, AND THE MARKETPLACE. THE COMPENSATION OF THE PRESIDENT OF THE FOUNDATION LISTED IN PART VII REFLECTS THE PORTION FUNDED BY THE FOUNDATION. COMPENSATION DISCLOSURES AS A RESULT OF THE RULING BY THE VIRGINIA SUPREME COURT AFFIRMING THE FOUNDATION'S STATUS AS A PRIVATE BODY, SEPARATE FROM GEORGE MASON UNIVERSITY, THE FOUNDATION HAS UPDATED ITS DISCLOSURES IN CONFORMITY WITH THE IRS FORM 990 INSTRUCTIONS. A FAIRFAX COUNTY ECONOMIC DEVELOPMENT AUTHORITY 911910090 2017-12-21 16795000 SEE PART VI 0 0 0 B FAIRFAX COUNTY ECONOMIC DEVELOPMENT AUTHORITY 911910090 2018-05-18 30395000 SEE PART VI 0 0 0 A 16795000 197500 16597500 2004 1 0 1 1 B 30395000 248115 30146885 2012 1 0 1 1 A 0 0 0 0 0 0 1 B 0 1 0 1 1 0 0 1 A 0 0 0 1 0 0 0 0 1 B 0 0 0 1 0 0 0 0 1 A 1 B 1 (B) ISSUER NAME: FAIRFAX COUNTY ECONOMIC DEVELOPMENT AUTHORITY PART I, COLUMN F, LINE A REFUND OF $16,795,000 OF ISSUE DATED 5/30/2013. PART I, COLUMN F, LINE B REFUND OF $28,243,403 OF ISSUE DATED 4/21/2010. PART IV, COLUMN A, LINE 2C REBATE CALCULATION WAS PERFORMED ON DECEMBER 21, 2017. PART IV, COLUMN B, LINE 2C REBATE CALCULATION WAS PERFORMED ON MAY 18, 2018. X 2 24350 APPRAISAL X 132570 APPRAISAL/COMP SALES X 2 26457 FMV X 17 263634 FMV X ACADEMIC LICENSES 8200 16400000 COST X DONATED MEALS 3 21260 FMV 5 0 1 0 FORM 990, PART VI, SECTION B, LINE 11B EACH YEAR, A COPY OF GEORGE MASON UNIVERSITY FOUNDATION, INC.'S IRS FORM 990 IS PROVIDED TO ALL OFFICERS, TRUSTEES, AND SENIOR MANAGEMENT OFFICIALS. DURING THE WINTER AUDIT COMMITTEE MEETING, THE 990 IS REVIEWED WITH THE FOUNDATION'S TAX PREPARER. AFTER THE AUDIT COMMITTEE HAS APPROVED THE 990, IT IS FORWARDED TO THE EXECUTIVE COMMITTEE FOR THEIR REVIEW AND APPROVAL. AFTER THE EXECUTIVE COMMITTEE HAS APPROVED THE 990, IT IS PRESENTED TO THE FULL BOARD, AND AFTER ACCEPTANCE, IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS, TRUSTEES, AND KEY EMPLOYEES OF THE GEORGE MASON UNIVERSITY FOUNDATION, INC., ARE REQUIRED TO ANNUALLY DISCLOSE POTENTIAL CONFLICTS OF INTERESTS. INDIVIDUALS COMPLETE THE CONFLICT OF INTEREST DISCLOSURE FORMS FOR REVIEW. THE FOUNDATION INFORMS THE BOARD CHAIR AND COMMITTEE CHAIRS OF ANY POTENTIAL CONFLICTS. ANY INDIVIDUAL WITH A CONFLICT OF INTEREST IS PROHIBITED FROM PARTICIPATING IN THE BOARD'S DELIBERATIONS AND DECISIONS REGARDING THE RELEVANT TRANSACTION. AT EACH COMMITTEE AND FULL BOARD MEETING, AN AGENDA ITEM IS THE IDENTIFICATION OF ANY CONFLICTS WITH ITEMS ON THE AGENDA. ANY CONFLICTS NOTED BY TRUSTEES ARE DOCUMENTED IN THE MINUTES FOR EACH MEETING. FORM 990, PART VI, SECTION B, LINE 15 THE COMPENSATION OF THE PRESIDENT OF THE FOUNDATION WAS REVIEWED AND APPROVED BY A COMMITTEE PER THE POLICIES OF THE DEPARTMENT OF HUMAN RESOURCES OF GEORGE MASON UNIVERSITY. INDIVIDUALS ON THE COMMITTEE INCLUDE THE UNIVERSITY PRESIDENT, SENIOR VICE PRESIDENT OF ADMINISTRATION AND FINANCE, CHIEF OF STAFF, AND VICE PRESIDENT OF HUMAN RESOURCES AND PAYROLL. SALARY INFORMATION INCLUDING THE PREVIOUS INCUMBENT'S COMPENSATION, COMPENSATION OF THE SAME POSITION AT THE OTHER VIRGINIA DOCTORAL INSTITUTIONS, AS WELL AS SALARY SURVEY DATA OF GEORGE MASON UNIVERSITY'S PEER INSTITUTIONS AND COMPARABLE DC AREA UNIVERSITIES WAS REVIEWED TO DETERMINE REASONABLENESS OF SALARY. OTHER KEY EMPLOYEES' COMPENSATION IS REVIEWED AND APPROVED BY THE UNIVERSITY'S EQUITY OFFICE AND HUMAN RESOURCES COMPENSATION TEAM TO DETERMINE EQUITY THROUGHOUT THE UNIVERSITY, OTHER STATE AGENCIES, AND THE MARKETPLACE. FORM 990, PART VI, SECTION C, LINE 19 AT HTTPS://GMUF.ORG/, GEORGE MASON UNIVERSITY FOUNDATION, INC.'S ARTICLES OF INCORPORATION,BYLAWS, CODE OF ETHICS STATEMENT, CONFLICT OF INTEREST POLICIES, AUDITED FINANCIAL STATEMENTS, IRS FORMS 990 AND 990-T AND IRS DETERMINATION LETTER ARE PUBLISHED. INDIVIDUALS CAN REQUEST COPIES OF ANY OF THE ABOVE DOCUMENTS AS WELL AS GEORGE MASON UNIVERSITY FOUNDATION, INC.'S FORM 1023. FORM 990, PART IX, LINE 24A NONCASH CONTRIBUTIONS INCLUDED IN THE $17,447,824 OF 'ACADEMIC SUPPORT' IS THE EXPENSE RELATED TO THE $16,400,000 OF DONATED UIPATH ACADEMIC SOFTWARE LICENSES RECEIVED. THE VALUE OF THESE DONATED LICENSES IS ALSO REFLECTED ON FORM 990, PART VIII, LINE 1G AS NONCASH CONTRIBUTION REVENUE. FORM 990, PART XI, LINE 9: LOSS ON DEFEASANCE OF DEBT -2,553,488. LOSS ON VALUATION OF LAND HELD FOR SALE -871,000. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS 341,675. GAIN ON TERMINATION OF LIFE INSURANCE POLICY 863,922. GMUF ARLINGTON CAMPUS LLC 4400 UNIVERSITY DRIVE FAIRFAX VA 22030 542010573 REAL ESTATE VA 10861020 61064616 GMUF GMUF MASON ADMINISTRATION LLC 4400 UNIVERSITY DRIVE FAIRFAX VA 22030 270937708 REAL ESTATE VA 1412084 28153381 GMUF GMUF PRINCE WILLIAM HOUSING LLC 4400 UNIVERSITY DRIVE FAIRFAX VA 22030 452918081 REAL ESTATE VA 922936 14714678 GMUF GMUF PRINCE WILLIAM LIFE SCIENCES LAB 4400 UNIVERSITY DRIVE FAIRFAX VA 22030 452918190 REAL ESTATE VA 1864449 30500116 GMUF GMUF COMMERCE BUILDINGS LLC 4400 UNIVERSITY DRIVE FAIRFAX VA 22030 462592279 REAL ESTATE VA 451040 4305961 GMUF GMUF POTOMAC HEIGHTS LLC 4400 UNIVERSITY DRIVE FAIRFAX VA 22030 823534994 REAL ESTATE VA 1151243 12716145 GMUF CHARITABLE REMAINDER TRUSTS (3) ANNUITY TRUST VA GMUF 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0