2019-03-13T12:01:45-05:00 2018-06-30 Grant Thornton LLP 1000 WILSON BLVD SUITE 1400 ARLINGTON VA 22209 990 2017-07-01 541603842 George Mason University Foundation Inc % MARY SUSAN VAN LEUNEN GEOR 7039938850 4400 University Drive MSN 1A3 Fairfax VA 220304444 MARY SUSAN VAN LEUNEN CFO 7039938850 2019-03-11 true Mary Torretta P00847851 7038477500 209.220.136.124 54681420190725000011 2019-03-13 P AA918D8483008E32154F6CC583B06457B9AF9E42 AA918D8483008E32154F6CC583B06457B9AF9E42 2017 2019-02-21 02:37:17Z Janet Bingham 4400 University Drive MSN 1A3 Fairfax VA 220304444 150061648 false X See Schedule O X 1991 VA To advance and further the aims and purposes of George Mason University. 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130000 5 67479 68081910 664862 68149389 RENT FROM GMU/STUDENTS 900002 6706101 6706101 INTEREST ON DIRECT FINANCING LEASE 531190 5424899 5424899 RENT FROM CAPITOL CONNECTION 900002 22800 22800 RENT FROM PROVOST 900002 51600 51600 12205400 3932957 10949 3922008 0 0 6262634 4137253 2125381 0 2125381 2125381 58996603 58898847 97756 97756 97756 55881 67479 73212 -17331 -17331 0 0 0 0 0 0 TRUST INCOME 900099 458784 458784 458784 86952336 12664184 2136330 4002433 56217026 56217026 573217 573217 0 0 161192 161192 0 585464 585464 88310 88310 110883 110883 53152 53152 0 592829 21229 571600 137570 137570 1794 1794 5905 5905 460384 460384 2475169 2464537 9777 855 234708 234268 440 1199985 1160093 10757 29135 554069 291918 261267 884 0 3460793 3460793 2095444 2051781 5256 38407 0 2500584 2333685 3961 162938 4183250 4183250 0 874300 858314 15986 143892 88938 54954 ADMINISTRATIVE SUPPORT 1587624 1579010 1391 7223 ACADEMIC SUPPORT 1140713 1140713 0 0 MEALS AND ENTERTAINMENT 242840 229196 769 12875 TRAINING AND PROF. DEVELOP. 205637 185155 12792 7690 489447 405013 84434 80376181 77479930 2629899 266352 49594 26415 31671809 22337910 33443899 31265785 165990 155142 0 0 0 0 0 0 0 0 0 0 93456578 25568160 84493784 67888418 135426966 139527841 22332348 30187311 0 0 0 0 95156611 108019921 402741001 399408743 9640306 7714072 0 0 437007 628497 61571112 61946047 14675999 12230253 0 0 96981245 94132882 0 0 12977575 4762529 196283244 181414280 X 20183189 26018595 99058190 100097030 87216378 91878838 206457757 217994463 402741001 399408743 X 6576155 4159255 801296 X false true X true false X 47432496 58207189 73732177 62567864 68149389 310089115 0 0 47432496 58207189 73732177 62567864 68149389 310089115 85952521 224136594 8261122 9689020 8601057 7577632 8059261 42188092 385447 524203 442684 2422845 2136330 5911509 735899 561910 735422 650206 514665 3198102 361386818 61677562 0.62021 0.61720 X false false false false false true 1794 false false false 1794 false GRANTS TO OTHER ORGANIZATIONS FOR LOBBYING PURPOSES SCHEDULE C, PART II-B, Line 1f THE GEORGE MASON UNIVERSITY FOUNDATION, INC. PROVIDED GRANTS TO OTHER ORGANIZATIONS FOR PROFESSIONAL SERVICES RELATED TO LOBBYING FOR ISSUES IN HIGHER EDUCATION. 161652 X false false true X 77692437 3231572 5806317 1783892 84946434 71566373 3239253 6125724 3238913 77692437 72245124 1819192 -103974 2393969 71566373 69554336 4897031 732601 2938844 72245124 59260526 5242288 7807989 2756467 69554336 0.00010 0.99990 false false 27109091 27109091 65310112 24597082 40713030 1037375 971078 66297 67888418 ALTERNATIVE INVESTMENTS 24855242 F MONEY MARKET FUNDS 5332069 F 30187311 NET INV. IN DIRECT FIN. LEASE 91339380 BENEFICIAL INT IN PERP. TRUST 10985365 ACCRUED S/L RENT 2873343 OTHER ASSETS 730307 DEFERRED TAX ASSET 714640 ANNUITY BENEFIT CONTRACT 627125 LEASING COMMISSIONS 588109 ART & ANTIQUES 161652 108019921 0 UNEARNED RENT 4114571 ACCRUED ANNUITY BENEFIT 627125 SECURITY DEPOSITS 20833 4762529 X 95901149 4159255 69957 4938312 9167524 86733625 291923 -73212 218711 86952336 84364443 69957 4210228 4280185 80084258 291923 291923 80376181 DESCRIPTION OF ORGANIZATION'S COLLECTIONS SCHEDULE D, PART III, LINE 4 THE COLLECTION PROVIDES OPPORTUNITIES FOR THE UNIVERSITY'S STUDENTS TO LEARN AND TO GAIN AN APPRECIATION OF THE ARTWORK. ESCROW OR CUSTODIAL ACCOUNT LIABILITY SCHEDULE D, 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. INTENDED USES OF ENDOWMENT FUNDS SCHEDULE D, PART V, LINE 4 THE FOUNDATION'S ENDOWMENT CONSISTS OF APPROXIMATELY 500 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING ACADEMIC SUPPORT, EMINENT SCHOLARS, SCHOLARSHIPS, ATHLETICS, FACILITIES, LIBRARY, AND RESEARCH. LIABILITY FOR UNCERTAIN TAX POSITION (ASC 740) SCHEDULE D, PART X, LINE 2 THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE ("IRC") SECTION 501(C)(3) AND HAS BEEN CLASSIFIED BY THE INTERNAL REVENUE SERVICE ("IRS") AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION, THOUGH 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 PRESENTLY 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 ENDING JUNE 30, 2015 THROUGH 2018 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. OTHER ADJUSTMENTS TO REVENUE SCHEDULE D, PART XI, LINE 2D SPLIT INTEREST AGREEMENTS, CHANGE IN VALUE 431,082 GMUF ARLINGTON CAMPUS, EXPENSE (ALLOCATED) 4,137,016 UNREALIZED Gain ON DERIVATIVES 1,613,943 INCOME TAX Expense (1,099,807) LOSS ON DEFEASANCE (143,922) ----------- TOTAL TO SCHEDULE D, PART XI, LINE 2D 4,938,312 OTHER ADJUSTMENTS TO REVENUE Schedule D, Part XI, Line 4B: FUNDRAISING EVENT EXPENSES (73,212) OTHER ADJUSTMENTS TO EXPENSES SCHEDULE D, PART XII, LINE 2D GMUF ARLINGTON CAMPUS, EXPENSE (ALLOCATED) 4,137,016 Fundraising Event Expenses 73,212 --------- Total to Schedule D, Part XII, Line 2d 4,210,228 Europe (Including Iceland and Greenland) Program Services Research, Travel 95641 North America Program Services Research, Travel 23019 Central America and the Caribbean Program Services Research, Travel 819 South Asia Program Services Research, Travel 4313 South America Program Services Research 1900 East Asia and the Pacific Program Services Research 2000 Central America and the Caribbean Investments 6621369 North America Investments 6535303 13284364 13284364 true false true false true false ACCOUNTING METHOD USED SCHEDULE F, PART I, LINE 3, COLUMN F THE EXPENDITURES, PER REGION, ARE PRESENTED ON THE ACCRUAL BASIS OF ACCOUNTING. PC Fall Golf 15125 8770 6355 9424 1099 2450 1230 PC Spring Golf 28351 12206 16145 4312 15543 3724 2285 2 79884 46503 33381 3181 14065 6175 9724 123360 67479 55881 7493 39032 10998 2450 13239 73212 -17331 true George Mason University 4400 University Drive Fairfax VA 22030 540836354 170/115 8065671 0 Salary Support George Mason University 4400 University Drive Fairfax VA 22030 540836354 170/115 1436512 0 Benefits Support George Mason University 4400 University Drive Fairfax VA 22030 540836354 170/115 8327045 0 Scholarships George Mason University 4400 University Drive Fairfax VA 22030 540836354 170/115 13383142 0 Operations Support George Mason University 4400 University Drive Fairfax VA 22030 540836354 170/115 555034 0 Eminent Scholars Mercatus Center Inc 3351 N Fairfax Drive Arlington VA 22201 521328708 501(C)(3) 24448377 0 Program Support 2 Scholarships 273 573217 PROCEDURE FOR MONITORING USE OF GRANT FUNDS INSIDE U.S. SCHEDULE I, 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 true true X X X false true false false false false false false false JANET BINGHAM TRUSTEE/PRESIDENT 0 279214 0 0 0 4029 0 44213 0 7546 0 335002 0 0 HENRY BUTLER TRUSTEE 0 405811 0 100000 0 7034 0 42684 0 19666 0 575195 0 0 ANGEL CABRERA TRUSTEE 0 555030 0 76133 0 17240 0 184658 0 91616 0 924677 0 0 MARK R GINSBERG TRUSTEE 0 342846 0 0 0 5040 0 36136 0 7546 0 391568 0 0 MARY SUSAN VAN LEUNeN CHIEF FINANCIAL OFFICER 0 136745 0 10000 0 1155 0 18889 0 0 0 166789 0 0 LANCE A LIOTTA TRUSTEE 0 264898 0 0 0 11882 0 27549 0 13444 0 317773 0 0 Health or Social Club Dues/Fees 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. COMPENSATION OF TOP MANAGEMENT OFFICIALS 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. 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. Deferred Compensation Schedule J, Part II, column C A deferral of $107,000 was made to Dr. Cabrerra's Section 415(m) plan as part of his total compensation. A Fairfax county economic development authority 911910090 2017-12-21 16795000 see part VI false false false B Fairfax county economic development authority 911910090 2018-05-18 30395000 see part vi false false false C IDA OF THE COUNTY OF PRINCE WILLIAM 521325659 74176GAG2 2011-08-11 14754439 see part vi false false false A 0 0 16795000 0 0 0 197500 0 0 0 16597500 0 2004 true false true true B 0 0 30395000 0 0 0 248115 0 0 30146885 0 0 2012 true false true true C 0 0 14754539 0 1228814 0 196366 0 3738 13325621 0 0 2013 false false true true A false false false false 0.00000 0.00000 0.00000 false true B false true false true true 0.00000 0.00000 0.00000 false 0.00000 true C false false false false 0.00000 0.00000 0.00000 false true A false true false false 0 false 0 false true B false true false false 0 false 0 false true C false true false false 0 false 0 false true A true B true C true PART I, COLUMN F, LINE A REFUND OF $16,597,000 OF ISSUE DATED 5/30/2013. PART I, COLUMN F, LINE B REFUND OF $28,243,403 OF ISSUE DATED 4/21/2010. PART I, COLUMN F, LINE C FINANCING FOR BUILDINGS AND STRUCTURES. PART II, COLUMN C, LINE 9 UNEXPECTED SALE PROCEEDS DUE TO COST SAVINGS ON THE PROJECT WERE USED TO PAY INTEREST EXPENSES OF $3,738. 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 APRIL 21, 2015. PART IV, COLUMN C, LINE 2C REBATE CALCULATION WAS PERFORMED ON AUGUST 1, 2016. X 62032 Appr, comp sales X 21 439497 Market sales X musical instruments 1 4000 Appr, comp sales X musical collection 1 151765 Appr, comp sales X electronics 1 2373 Appr, comp sales X event supplies 3 5195 Appr, comp sales 2 false true false GENERAL INFORMATION FORM 990, LINE J WEBSITE: https://giving.gmu.edu/foundation/ ORGANIZATION'S MISSION FORM 990, PART I, LINE 1 AND FORM 990, PART III, LINE 1 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. ORGANIZATIONAL DOCUMENTS FORM 990, PART VI, LINE 4 The Foundation's Articles of Incorporation and Bylaws were updated for organizational clarity, including a change in officer titles as well as some additional related administrative clarifications. FORM 990 REVIEW PROCESS FORM 990, PART VI, 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. CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT FORM 990, PART VI, 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. PROCESS FOR DETERMINING COMPENSATION FORM 990, PART VI, LINE 15A & 15B 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. Employees of the George Mason University Foundation are compensated by George Mason University, a related organization. HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC FORM 990, PART VI, LINE 19 AT HTTP://FASTERFARTHER.GMU.EDU/GEORGE-MASON-UNIVERSITY-FOUNDATION-INC/, 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. OTHER CHANGES IN NET ASSETS OR FUND BALANCES FORM 990, PART XI, LINE 9 SPLIT INTEREST AGREEMENTS, CHANGE IN VALUE 431,082 UNREALIZED GAIN ON DERIVATIVES 1,613,943 INCOME TAX Expense (1,099,807) LOSS ON DEFEASANCE (143,922) ----------- TOTAL 801,296 GMUF Arlington Campus LLC 4400 University Drive Fairfax VA 22030 542010573 real estate VA 8740352 62747061 GMUF GMUF Mason Administration LLC 4400 University Drive Fairfax VA 22030 270937708 real estate VA 2846832 30002967 GMUF GMUF Prince William Housing LLC 4400 University Drive Fairfax VA 22030 452918081 real estate VA 1012785 16840849 GMUF GMUF Prince WillIam Life Sciences Lab 4400 University Drive Fairfax VA 22030 452918190 real estate VA 1923641 31505664 GMUF GMUF Commerce Buildings LLC 4400 University Drive Fairfax VA 22030 462592279 real estate VA 450191 4928556 GMUF GMUF Potomac Heights LLC 4400 University Drive Fairfax VA 22030 823534994 real estate VA -2651466 14496986 GMUF George Mason University 4400 University Drive Fairfax VA 22030 540836354 Education VA 115 NA false Ch Henry Smith Jr Char Rem Unitrust 4400 University drive msn 1a3 Fairfax VA 220304444 546448320 Annuity Trust VA GMUF Trust 4396 39148 0.53400 true Charles & Shirley Joyce Char Rem Trust 4400 university drive msn 1a3 fairfax VA 220304444 Annuity Trust VA GMUF Trust 8730 116632 0.57600 true false true false false false false false false false true true false true true false true false false false