2018-11-13T12:36:53-06:00 2017-12-31 410746749 CLIFTONLARSONALLEN LLP 901 N GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2017-01-01 237084339 GRADUATE MANAGEMENT ADMISSION COUNCIL GRAD 7036689600 11921 FREEDOM DRIVE NO 300 RESTON VA 20190 SAMUEL R REIMER CHIEF FINANCIAL OFFICER 7036689600 2018-11-13 1 DAVID TRIMNER CPA P00444822 5712279500 67.137.57.251 2018-11-13 09:49:19 ES P 92465E57DADAD6C24A7EB17F4905229B30516652 3F26782FE4A8D097B8E6D44DA42E2066FBD559CC 2017 2019-02-21 02:37:17Z SANGEET CHOWFLA 11921 FREEDOM DRIVE NO 300 RESTON VA 20190 156005729 0 X WWW.GMAC.COM X 1970 VA GMAC BELIEVES THAT BUSINESS AND MANAGEMENT ARE CRITICAL TO THE ECONOMIC AND SOCIAL WELL-BEING OF PEOPLE WORLDWIDE. WE PROVIDE INFORMATION AND INSIGHTS TO IMPROVE DECISION MAKING ABOUT THE DISCOVERY AND EVALUATION OF TALENT. AT GMAC, WE DO THIS TO CONTRIBUTE TO THE EFFECTIVE USE OF HUMAN, NATURAL, AND FINANCIAL RESOURCES THROUGHOUT THE WORLD. 16 15 134 15 0 0 0 0 93576807 90832328 3415964 6230822 299544 301109 97292315 97364259 769122 740241 0 0 24316765 24738849 0 0 0 67323178 68262534 92409065 93741624 4883250 3622635 181576795 199717784 24224093 28446183 157352702 171271601 X OUR MISSION IS TO PROVIDE THE SOLUTIONS NECESSARY FOR SCHOOLS AND CANDIDATES TO DISCOVER AND EVALUATE EACH OTHER SO THAT TALENT NEVER GOES UNDISCOVERED. WE BELIEVE THE VALUES OF COURAGE, CREATIVITY, LISTENING, COLLABORATION AND INTEGRITY, BUILD LASTING CONNECTIONS WITHIN OUR ORGANIZATION AND THE EDUCATION COMMUNITY, BOTH TODAY AND FOR THE FUTURE. 0 0 41064121 81689348 GRADUATE MANAGEMENT EDUCATION PROGRAMS EVALUATE APPLICANTS FROM MANY EDUCATIONAL BACKGROUNDS. THE GRADUATE MANAGEMENT ADMISSION TEST (GMAT) HELPS SCHOOL PROGRAMS EVALUATE STUDENTS AND THEIR LIKELIHOOD TO SUCCEED ACADEMICALLY IN A GIVEN GRADUATE MANAGEMENT EDUCATION PROGRAM. FOR LEADING BUSINESS SCHOOLS WORLDWIDE, THE GMAT EXAM IS RECOGNIZED AS THE MOST VALID PREDICTOR OF ACADEMIC SUCCESS FOR BUSINESS SCHOOLS. THE GMAT EXAM IS A VITAL PART OF THE SELECTIVE ADMISSIONS PROCESS FOR MORE THAN 7000 GRADUATE MANAGEMENT PROGRAMS AT APPROXIMATELY 2,300 SCHOOLS AROUND THE WORLD. FOR MORE THAN 60 YEARS, SCHOOLS HAVE TRUSTED THE GMAT EXAM, A PROVEN AND RELIABLE MEASUREMENT, TO ASSESS CANDIDATES' SKILLS AND PREDICT THEIR SUCCESS IN GRADUATE BUSINESS CURRICULUM. IN MARCH 2015, GMGC INDIA ACQUIRED THE NMAT EXAM FROM NMIMS AND RENAMED IT TO NMAT BY GMAC. THIS EXAM ENABLES SCHOOLS TO RECRUIT TOP TALENT AND MEASURES SKILLS NEEDED TO SUCCEED IN LEADING MANAGEMENT PROGRAMS LOCATED IN INDIA. IN 2017, WE EXPANDED THE NMAT EXAM INTO SOUTH AFRICA. GMAC ALSO INTRODUCED THE EXECUTIVE ASSESSMENT, DESIGNED TO EVALUATE BUSINESS SCHOOL READINESS IN THE CONTEXT OF CAREER EXPERIENCE FOR SELECT EXECUTIVE MBA (EMBA) PROGRAMS AROUND THE WORLD. WAYS TO MEASURE - 2017 VALUESGMAT TEST REGISTRATIONS - 279,947GMAT TESTS ACTUALLY TAKEN - 245,818GMAT SCORE REPORTS SENT - 424,207NMAT TEST REGISTRATIONS - 88,454NMAT TESTS ACTUALLY TAKEN - 81,006NMAT SCORE REPORTS SENT - 275,623EXECUTIVE ASSESSMENT TEST REGISTRATIONS - 1,589EXECUTIVE ASSESSMENT TESTS ACTUALLY TAKEN - 1,262NUMBER OF GMAT TEST CENTERS AS OF DECEMBER 31, 2017: AFRICA - 23 EAST ASIA/PACIFIC - 34 EASTERN EUROPE + ISRAEL - 20 GREATER CHINA - 33 LATIN AMERICA - 29 MIDDLE EAST/TURKEY - 26 NORTH AMERICA - 450 SOUTH ASIA - 52 WESTERN EUROPE - 50NUMBER OF NMAT TEST CENTERS AS OF DECEMBER 31, 2017: SOUTH ASIA - 51 AFRICA - 5NUMBER OF EA TEST CENTERS AS OF DECEMBER 31, 2017: AFRICA - 22 EAST ASIA/PACIFIC - 33 EASTERN EUROPE + ISRAEL - 19 GREATER CHINA - 8 LATIN AMERICA - 30 MIDDLE EAST/TURKEY - 20 NORTH AMERICA - 315 SOUTH ASIA - 50 WESTERN EUROPE - 48NUMBER OF ACTIVE PROGRAMS ACCEPTING THE GMAT AS OF DECEMBER 31, 2017: AFRICA - 45 ASIA - 398 AUSTRALIA/PACIFIC - 110 CANADA - 215 CENTRAL ASIA - 325 EAST EUROPE - 49 LATAM - 93 MID-EAST - 80 US - 4,612 WESTERN EUROPE - 1,089NUMBER OF ACTIVE PROGRAMS ACCEPTING THE NMAT AS OF DECEMBER 31, 2017: INDIA - 18 AFRICA - 6NUMBER OF ACTIVE PROGRAMS ACCEPTING THE EA AS OF DECEMBER 31, 2017: US - 12 EUROPE - 4 ASIA - 2 1189597 GMAC RESEARCH PROVIDES DATA-RICH MARKET INTELLIGENCE ABOUT GMAT TEST TAKERS AND GRADUATE MANAGEMENT PROGRAM CONSTITUENTS. THE POOL OF CANDIDATES FOR GRADUATE BUSINESS EDUCATION CONTINUES TO DIVERSIFY AND OFFERING THE GMAT EXAM ALLOWS GMAC TO BUILD AN ACCURATE PICTURE OF TODAY'S BUSINESS SCHOOL APPLICANTS AND PROVIDE VALUABLE INSIGHTS TO SCHOOLS, THE GRADUATE MANAGEMENT EDUCATION COMMUNITY AND THE MEDIA. RESOURCES INCLUDE GEOGRAPHIC TREND REPORTS, SURVEY ANALYSIS, WHITE PAPERS, PROFILE OF GMAT TESTING REPORT, AND THE GLOBAL SEGMENTATION REPORT FINDINGS. GMAT INTERACTIVE PROFILE REPORTS SHOW CURRENT AND HISTORICAL TEST-TAKER TRENDS ABOUT WHERE TEST TAKERS LIVE, WHAT THEY EXPECT TO GAIN FROM BUSINESS SCHOOL, THEIR WORK EXPERIENCE, ETC. SCHOOLS CAN ALSO CUSTOMIZE A REPORT FOR INFORMATION TARGETED TO FIT THEIR NEEDS. ALL REPORTS CAN BE PRINTED OR DOWNLOADED AT THE SCHOOL'S CONVENIENCE.WAYS TO MEASURE - 2017 VALUESRESEARCH INSIGHT REPORTS - 45SURVEY SUMMARY REPORTS - 6INTERACTIVE REPORTS - 5BENCHMARK REPORTS - 4DATA REPORTS - 4RESEARCH REPORTS - 4UNIQUE SEGMENTATION REPORTS - 54UNIQUE BENCHMARK REPORTS - 491NUMBER OF ENTITIES SURVEYED - APPROXIMATELY - 79,631NUMBER AD HOC REQUESTS ANSWERED - APPROXIMATELY - 340GMAT VALIDITY STUDY SERVICE IS A CUSTOMER SERVICE THAT ANALYZES A SCHOOL'S ADMISSIONS CRITERIA AND LET'S SCHOOLS KNOW HOW VALID THE TEST SCORES ARE FOR ITS PROGRAM.WAYS TO MEASURE - 2017 VALUESNUMBER OF FULL VALIDITY STUDIES - 6 FOR 4 SCHOOLS 27063207 740242 9444089 OTHER EDUCATIONAL SERVICES - SERVICES FOR STUDENTS:GMAC PROVIDES INFORMATION AND RESOURCES FOR STUDENTS ABOUT THE VALUE OF AND PROCESS FOR OBTAINING A GRADUATE MANAGEMENT DEGREE. THIS INFORMATION IS DELIVERED VIA WWW.MBA.COM, AS WELL AS THROUGH OTHER MEDIUMS AS APPROPRIATE. GMAC PROVIDES FREE TEST PREPARATION MATERIALS TO STUDENTS. IN ADDITION, GMAC SELLS VARIOUS TEST PREPARATION PRODUCTS, BOTH HARD COPY AND ONLINE.SERVICES FOR SCHOOLS:GMAC DEVELOPS SOLUTIONS NECESSARY FOR SCHOOLS AND CANDIDATES TO DISCOVER AND EVALUATE EACH OTHER. WE PROVIDE INFORMATION AND RESOURCES FOR SCHOOL PROFESSIONALS ABOUT POTENTIAL STUDENTS AND GRADUATE MANAGEMENT EDUCATION TRENDS AND DEVELOPMENTS. THIS INFORMATION IS DELIVERED VIA WWW.GMAC.COM, AS WELL AS THROUGH OTHER MEDIUMS AS APPROPRIATE.WAYS TO MEASURE - 2017 VALUESWEBSITE VISITS TO GMAC.COM - 687,655THE GRADUATE MANAGEMENT ADMISSION SEARCH SERVICE (GMASS) PROVIDES GMAT USING SCHOOL PROFESSIONALS AND STRATEGIC PARTNERS ACCESS TO QUALIFIED POTENTIAL CANDIDATES WHO HAVE SHOWN A STRONG INTEREST IN GRADUATE MANAGEMENT EDUCATION. THEY'VE CREATED AN MBA.COM PROFILE, THEY MAY HAVE TAKEN THE GMAT EXAM AND THEY'VE SPECIFICALLY CHOSEN TO MAKE THEIR CONTACT AND OTHER INFORMATION AVAILABLE TO SCHOOLS, AND STRATEGIC PARTNERS. NAMES ARE SOLD INDIVIDUALLY AND THE DATABASE UPDATES FREQUENTLY WITH NEW CANDIDATES. WAYS TO MEASURE - 2017 VALUESNUMBER OF SEARCHES DONE - 16,295 TOTAL NUMBER OF GMASS SEARCHES COMPLETED IN CALENDAR YEAR 2017.SCHOOL FINDER DATA WAREHOUSE CAPTURES BUSINESS SCHOOL ADMISSIONS, ENROLLMENT, AND EMPLOYMENT INFORMATION IN ONE PLACE. THIS DATA, DEFINED BY THE MBA REPORTING CRITERIA IS AN IMPORTANT SOURCE OF OBJECTIVE, CONSISTENT, AND COMPARABLE INDUSTRY INFORMATION FOR PROSPECTIVE STUDENTS (VIA THE MBA.COM SCHOOL SEARCH SERVICE), BUSINESS SCHOOL PROFESSIONALS, AND THE MEDIA. WAYS TO MEASURE - 2017 VALUESNUMBER OF PROGRAM VIEWS - 346,787NUMBER OF PARTICIPATING SCHOOLS - 1,799NUMBER OF PARTICIPATING PROGRAMS ESTIMATES - 6,948JOB OPENINGS IN GRADUATE MANAGEMENT EDUCATION: TO SUPPORT THE GRADUATE BUSINESS SCHOOL COMMUNITY, GMAC MAINTAINS A CURRENT LIST OF PROFESSIONAL POSITIONS AT BUSINESS SCHOOLS AROUND THE WORLD. THESE OPENINGS ARE POSTED DIRECTLY BY THE SCHOOLS. GMAC SERVES AS THE CENTRAL SOURCE OF NEWS AND INFORMATION IN THE FIELD OF GRADUATE MANAGEMENT EDUCATION. WAYS TO MEASURE - 2017 VALUESNUMBER OF JOB POSTINGS - 272GRADUATE MANAGEMENT NEWS: A FREE ONLINE NEWSLETTER PUBLISHED MONTHLY TO KEEP SCHOOLS UP TO DATE ON TRENDS AND PROVIDES FEATURE ARTICLES ON HOT TOPICS IN THE BUSINESS SCHOOL COMMUNITY.WAYS TO MEASURE - 2017 VALUESGRADUATE MANAGEMENT NEWS EMAILS DELIVERED - 38,903GRADUATE MANAGEMENT NEWS PAGE VIEWS - 48,368THE GMAC LEADERSHIP CONFERENCE: THIS ANNUAL EVENT, GENERALLY HELD IN THE EARLY WINTER, IS OPEN TO ACADEMIC AND ADMINISTRATIVE GRADUATE SCHOOL PROGRAM LEVEL DEANS AND DIRECTORS. ATTENDANCE IS LIMITED TO ENSURE A FOCUSED AND DRIVEN PROGRAM.WAYS TO MEASURE - 2017 VALUESNUMBER OF TOTAL SCHOOL ATTENDEES - 170THE GMAC ANNUAL CONFERENCE IN JUNE BRINGS TOGETHER GRADUATE BUSINESS PROFESSIONALS FROM ALL FUNCTIONS AND EXPERIENCE LEVELS FOR NETWORKING, LEARNING SESSIONS, AND DISCUSSIONS ABOUT THE LATEST TRENDS IN GRADUATE MANAGEMENT EDUCATION.WAYS TO MEASURE - 2017 VALUESNUMBER OF TOTAL SCHOOL ATTENDEES - 707THE ADMISSIONS INSTITUTE FOR NEW PROFESSIONALS, HELD IN THE SUMMER, IS DESIGNED FOR PROFESSIONALS FROM GMAT USING SCHOOLS WITH UP TO TWO YEARS OF EXPERIENCE IN BUSINESS SCHOOL ADMISSIONS. WAYS TO MEASURE - 2017 VALUESNUMBER OF TOTAL SCHOOL ATTENDEES - 63THE ADMISSIONS INSTITUTE FOR NEW PROFESSIONALS EUROPE, HELD ANNUALLY, IS DESIGNED FOR PROFESSIONALS FROM GMAT USING SCHOOLS WITH UP TO TWO YEARS OF EXPERIENCE IN BUSINESS SCHOOL ADMISSIONS. WAYS TO MEASURE - 2017 VALUESNUMBER OF TOTAL SCHOOL ATTENDEES - 26THE ADMISSIONS INSTITUTE INDIA, HELD ANNUALLY, IS DESIGNED FOR PROFESSIONALS FROM GMAT USING SCHOOLS WITH UP TO TWO YEARS OF EXPERIENCE IN BUSINESS SCHOOL ADMISSIONS. WAYS TO MEASURE - 2017 VALUESNUMBER OF TOTAL SCHOOL ATTENDEES - 15THE ADMISSIONS INSTITUTE CHINA, HELD ANNUALLY, IS DESIGNED FOR PROFESSIONALS FROM GMAT USING SCHOOLS WITH UP TO TWO YEARS OF EXPERIENCE IN BUSINESS SCHOOL ADMISSIONS. WAYS TO MEASURE - 2017 VALUESNUMBER OF TOTAL SCHOOL ATTENDEES - 15GMAC EUROPEAN CONFERENCE IS DESIGNED FOR SCHOOL PROFESSIONALS IN ADMISSIONS, MARKETING, RECRUITMENT, INTERNATIONAL AFFAIRS, AND PROGRAM MANAGEMENT. HELD IN THE FALL, THIS REGIONAL FORUM EXPLORES ISSUES OF INCREASING IMPORTANCE WITHIN A GROWING EUROPEAN GRADUATE MANAGEMENT EDUCATION LANDSCAPE. WAYS TO MEASURE - 2017 VALUESNUMBER OF ATTENDEES - 79INSTITUTIONS REPRESENTED - 29COUNTRIES REPRESENTED - 14GMAC ASIA PACIFIC CONFERENCE IS DESIGNED FOR SCHOOL PROFESSIONALS IN ADMISSIONS, MARKETING, RECRUITMENT, INTERNATIONAL AFFAIRS, AND PROGRAM MANAGEMENT. HELD IN THE FALL, THIS REGIONAL FORUM EXPLORES ISSUES OF INCREASING IMPORTANCE WITHIN A GROWING ASIA-PACIFIC GRADUATE MANAGEMENT EDUCATION LANDSCAPE.WAYS TO MEASURE - 2017 VALUESNUMBER OF ATTENDEES - 84INSTITUTIONS REPRESENTED - 40COUNTRIES REPRESENTED - 13THE GMAC MANAGEMENT EDUCATION FOR TOMORROW (MET) FUND FORMALIZES AND ENHANCES THE GRADUATE MANAGEMENT ADMISSION COUNCIL'S LONG-STANDING COMMITMENT TO INVESTING (FINANCIAL AND IN-KIND) IN STRATEGIC PHILANTHROPIC INITIATIVES THAT BENEFIT AND ADVANCE BUSINESS AND MANAGEMENT EDUCATION GLOBALLY.THE LARGEST PROJECT, THE IDEAS TO INNOVATION CHALLENGE, AWARDED MORE THAN $7.1 MILLION TO 12 PROGRAMS, INCORPORATING ONE OR MORE OF THE 20 IDEAS CHOSEN FROM THE CHALLENGE'S FIRST PHASE, ASKING FOR IDEAS ON HOW TO IMPROVE GRADUATE MANAGEMENT EDUCATION. THESE PROGRAMS CREATED NEW EDUCATION OPPORTUNITIES IN THE US, CANADA, SPAIN, KENYA, BOTSWANA, GHANA AND MORE, AND WERE IMPLEMENTED BETWEEN 2013 TO 2017. IN ADDITION, THE FUND AWARDED $150,000 TO THE PHD PROJECT, TO HELP FURTHER ITS MISSION TO PROMOTE ADDITIONAL MINORITY FACULTY IN BUSINESS SCHOOLS. 69316925 1 0 0 1 0 0 0 0 0 0 1 0 0 1 1 1 0 1 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 0 0 0 0 1 X 87 0 134 1 0 1 UK HK IN SN 0 0 0 0 0 0 0 0 X 16 15 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X SAMUEL R REIMER 7036689600 11921 FREEDOM DRIVE NO 300 RESTON VA 20190 KATE KLEPPER CHAIR 1.00 X X 0 0 0 NICK BARNVILLE BOARD MEMBER 1.00 X 0 0 0 MARTIN BOEHM BOARD MEMBER 1.00 X 0 0 0 WILLIAM BOULDING BOARD MEMBER 1.00 X 0 0 0 JIM BRADY BOARD MEMBER 1.00 X 0 0 0 TOM BUIOCCHI BOARD MEMBER 1.00 X 0 0 0 JON ERICKSON BOARD MEMBER 1.00 X 0 0 0 KENNETH FREEMAN BOARD MEMBER 1.00 X 0 0 0 ELLEN GLAZERMAN BOARD MEMBER 1.00 X 0 0 0 ERIC HIRST BOARD MEMBER 1.00 X 0 0 0 XIONGWEN LU BOARD MEMBER 1.00 X 0 0 0 DONNA RAPACCIOLI BOARD MEMBER 1.00 X 0 0 0 PETER TUFANO BOARD MEMBER 1.00 X 0 0 0 STEPHANIE VILLEMAGNE BOARD MEMBER 1.00 X 0 0 0 SRI ZAHEER BOARD MEMBER 1.00 X 0 0 0 MUNISH SAPRA TERM ENDED SEPT 2017 BOARD MEMBER 1.00 X 0 0 0 SEAN FERGUSON TERM ENDED JUNE 2017 BOARD MEMBER 1.00 X 0 0 0 SANGEET CHOWFLA PRESIDENT AND CEO 40.00 X X 1707950 0 154208 ROBERT ALIG PARTIAL YEAR EXECUTIVE VP, SCHOOL PRODUCTS 40.00 X 242980 0 0 RAMESH THADANI PARTIAL YEAR EXECUTIVE VP, MARKET DEVELOPMENT 40.00 X 165722 0 0 SAMUEL R REIMER CHIEF FINANCIAL OFFICER 40.00 X 476072 0 60425 SHERRI SAMPSON CHIEF HR OFFICER, GENERAL COUNSEL 40.00 X 488323 0 47448 BETTY SU CHIEF MARKETING OFFICER 40.00 X 353192 0 48016 JOY JONES PARTIAL YEAR CHIEF PRODUCT OFFICER 40.00 X 283083 0 34584 ASHOK SARATHY VP, PRODUCT MANAGEMENT 40.00 X 340636 0 44863 DAVID MOLDAVSKY VP, BUSINESS OPERATIONS 40.00 X 365767 0 47147 FANMIN GUO PARTIAL YEAR VP, PSYCHOMETRIC RESEARCH 40.00 X 226641 0 29461 ANDREW MARTELLI VP, PRODUCT DEVELOPMENT 40.00 X 320101 0 39750 SABRINA WHITE VP, AMERICAS 40.00 X 323341 0 44997 ASHISH BHARDWAJ VP, APAC 40.00 X 324396 0 89440 5618204 0 640339 78 0 1 0 BIG LENS LLC 1370 PARK GARDEN LANE RESTON VA 20194 MARKETING 845855 GOLD N FISH MARKETING LLC 53 OLD ROUTE 22 ARMONNK NY 10504 CAMPUS AMBASSADOR 195000 CLIFTONLARSONALLEN LLP 22 SOUTH 6TH STREET SUITE 300 MINNEAPOLIS MN 55402 AUDIT & CONSULTING 178908 CONDOR COMMUNICATIONS 17521 RIDGE ROAD ROCKVILLE MD 20853 CONFERENCE SUPPORT 160711 EASTBANC TECHNOLOGIES 1211 31ST STREET NW WASHINGTON DC 20007 DEVELOP API FOR PRACTICE EXAMS 155190 10 TEST OPERATIONS 900099 81689348 81689348 SCHOOL/STUDENT PRODUCTS 900099 8000373 8000373 PROFESSIONAL DEVELOPMENT 900099 1142607 1142607 90832328 2732876 2732876 61983791 58485845 3497946 3497946 3497946 456734 155625 301109 301109 97364259 91133437 0 6230822 305879 305879 95652 95652 338710 338710 4383004 2815237 1567767 15258716 10310452 4948264 1321531 784323 537208 2638399 1390349 1248050 1137199 647580 489619 964449 964449 1015639 1015639 3296 3296 409833 409833 3936426 1887609 2048817 4457258 4439408 17850 1662963 655497 1007466 4117341 640517 3476824 2532923 330176 2202747 2444014 1626618 817396 1810485 1485356 325129 1063672 1063672 260506 260506 TEST OPERATIONS 38272851 38272851 TEST DEVELOPMENT 3106331 3106331 STAFF TRAINING 387353 178260 209093 OTHER EMPLOYEE COSTS 339001 6120 332881 1478193 1478193 93741624 69316925 24424699 0 9823646 10950749 12163554 24637306 1033176 2064540 62805 37326 1795539 2010678 14265338 9690240 5216567 4575098 111499881 118293294 8543355 7760421 121029 130423 31317243 29257949 181576795 199717784 12004862 16311933 6997927 7017127 5221304 5117123 24224093 28446183 X 157352702 171271601 157352702 171271601 181576795 199717784 3622635 10296264 0 X 0 1 X 1 0 X 88087784 89236825 93180270 94006594 91289062 455800535 88087784 89236825 93180270 94006594 91289062 455800535 0 0 0 455800535 790354 1876827 2214086 2217977 2732876 9832120 790354 1876827 2214086 2217977 2732876 9832120 12862 54977 6724 390 74953 88891000 91168629 95401080 96224961 94021938 465707608 0.97870 0.98450 0.02110 0.01540 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLENOUS INCOME - 2013 AMOUNT: $ 12,862. 2014 AMOUNT: $ 54,977. 2015 AMOUNT: $ 6,724. 2016 AMOUNT: $ 390. 3296 3296 93738328 93741624 1000000 250000 0 0 1000000 1000000 1000000 3000000 4500000 26246 4508 3296 34050 250000 250000 250000 750000 1125000 7243475 3278556 3964919 4126096 3582531 543565 2895767 2829153 66614 4575098 CAPITALIZED TEST ITEMS 29153307 DEFERRED COMPENSATION PLAN 104642 29257949 DEFERRED LEASE ABATEMENT 5013228 DEFERRED COMP. LIABILITY 103895 5117123 X 107406315 10296264 -409833 9886431 97519884 -155625 -155625 97364259 93487416 155625 155625 93331791 409833 409833 93741624 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 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. PART XI, LINE 2D - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES -409,833. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -155,625. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 155,625. PART XII, LINE 4B - OTHER ADJUSTMENTS: INVESTMENT MANAGEMENT FEES 409,833. 0 EUROPE (UK OFFICE) 1 5 PROGRAM SERVICES CONDUCT EDUCATIONAL RESEARCH, PROVIDE SERVICES, AND FACILITATE INFORMATION EXCHANGE 1705061 ASIA PACIFIC (HONG KONG) 1 6 PROGRAM SERVICES CONDUCT EDUCATIONAL RESEARCH, PROVIDE SERVICES, AND FACILITATE INFORMATION EXCHANGE 2009936 ASIA PACIFIC (INDIA) 1 2 PROGRAM SERVICES ADMINISTRATION OF THE NMAT EXAM, PROVIDES SERVICES AND FACILITATE INFORMATION EXCHANGE. 2778617 ASIA PACIFIC (INDIA/SINGAPORE) 1 7 PROGRAM SERVICES CONDUCT EDUCATIONAL RESEARCH, PROVIDE SERVICES AND ADMINISTRATION FOR THE GMAT AND NMAT, AND FACILITATE INFORMATION EXCHANGE. 1907211 4 20 0 0 4 20 8400825 0 8400825 EUROPE SPONSORSHIP OF EFMD ACTIVITIES FOR 2017 124250 CHECK N/A EUROPE SPONSORSHIP OF EFMD ACTIVITIES FOR 2018 125701 CHECK N/A EUROPE 2017 EXTENSION OF GMAC SUPPORT FOR THE JOINT GMAC/EFMD AFRICAN LEADERSHIP STUDY 15000 WIRE N/A EUROPE SPONSORSHIP 2017 EFMD MIDDLE EAST AND AFRICA CONFERENCE 6000 WIRE N/A EUROPE GLOBAL PARTNERSHIP 27146 CHECK N/A SOUTH ASIA SPONSORSHIP OF KNOWLEDGE PARTNER 5443 CHECK N/A NORTH AMERICA CONFERENCE SPONSORSHIP AND MEMBERSHIP 2017 7500 WIRE N/A NORTH AMERICA CONFERENCE SPONSORSHIP AND MEMBERSHIP 2016 10000 WIRE N/A 3 1 FEE WAIVER CENTRAL AMERICA AND CARIBBEAN 7 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY FOR THE G 741 FEE WAIVER FAIR MARKET VALUE FEE WAIVER EAST ASIA AND THE PACIFIC 23 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY FOR THE G 2434 FEE WAIVER FAIR MARKET VALUE FEE WAIVER EUROPE 23 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY FOR THE G 2434 FEE WAIVER FAIR MARKET VALUE FEE WAIVER MIDDLE EAST & NORTH AFRICA 3 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY FOR THE G 317 FEE WAIVER FAIR MARKET VALUE FEE WAIVER NORTH AMERICA (EXCLUDES USA) 28 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY FOR THE G 2963 FEE WAIVER FAIR MARKET VALUE FEE WAIVER RUSSIA AND NEIGHBORING STATES 1 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY FOR THE G 106 FEE WAIVER FAIR MARKET VALUE FEE WAIVER SOUTH AMERICA 7 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY FOR THE G 741 FEE WAIVER FAIR MARKET VALUE FEE WAIVER SOUTH ASIA 19 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY FOR THE G 2010 FEE WAIVER FAIR MARKET VALUE FEE WAIVER SUB-SAHARAN AFRICA 56 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY FOR THE G 5925 FEE WAIVER FAIR MARKET VALUE 0 0 1 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. 1 AACSB INTERNATIONAL PO BOX 116201 ATLANTA GA 30368 406036286 501C3 75300 0 N/A N/A PROMOTING GMAC PRODUCTS, SERVICES, AND RESEARCH AND PROVIDING INDUSTRY SUPPORT. TRUSTEES OF BOSTON UNIVERSITY 881 COMMONWEALTH AVENUE BOSTON MA 02215 042103547 501C3 75000 0 N/A N/A TO SPONSOR BUSINESS EDUCATION JAM WHICH FOCUSES ON DIALOGUES AROUND THE GLOBE ON BUSINESS EDUCATION. THE ASPEN INSTITUTE 477 MADISON AVENUE SUITE 730 NEW YORK NY 100225821 840399006 CORP 10000 0 N/A N/A PROMOTING GMAC PRODUCTS, SERVICES, AND RESEARCH AND PROVIDING INDUSTRY SUPPORT. EXECUTIVE MBA COUNCIL ONE UNIVERSITY DRIVE ORANGE CA 92866 943095701 501C3 30000 0 N/A N/A PROMOTING GMAC PRODUCTS, SERVICES, AND RESEARCH AND PROVIDING INDUSTRY SUPPORT. FORTE FOUNDATION 9600 ESCARPMENT 745 PMB 72 AUSTIN TX 78749 611457145 501C3 50000 0 N/A N/A TO SPONSOR UNDERGRADUATE OUTREACH ACTIVITIES: CAREER LAUNCH & VIRTUAL CAMPUS. WYNNE COMMUNICATIONS 326 SOUTH PACIFIC COAST HIGHWAY SUITE 209 REDONDA BEACH CA 90277 954844451 CORP 6000 0 N/A N/A TO SPONSOR BUSINESS ACCESS MEDIA EVENT WHICH BRINGS THE WORLD'S TOP MBA PROGRAMS TO MEET WITH THE TOP FINANCIAL MEDIA. MANAGEMENT LEADERSHIP FOR TOMORROW 7201 WISCONSIN AVENUE NW SUITE 400 BETHESDA MD 20814 521795164 501C3 15000 0 N/A N/A TO SPONSOR PROGRAMS OF COACHING AND SUPPORT FOR HIGH-POTENTAIL AMERICAN, HISPANIC & NATIVE AMERICAN YOUNG PEOPLE TO UNLOCK THEIR CAREER POTENTIAL ASSOCIATION OF TEST PUBLISHERS 2995 ROUND HILL ROAD YORK PA 17042 363918100 501C3 18352 0 N/A N/A PROMOTE AND ADVANCE INTEGRITY OF ASSESSMENT SERVICES AND PRODUCTS. 6 2 FEE WAIVER 904 95652 FMV VOUCHERS TO TAKE THE GMAT EXAM 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 1 1 X X X X 1 0 0 0 0 0 0 0 0 SANGEET CHOWFLA PRESIDENT AND CEO 539950 0 1150000 0 18000 0 154208 0 0 0 1862158 0 0 0 ROBERT ALIG PARTIAL YEAR EXECUTIVE VP, SCHOOL PRODUCTS 154552 0 0 0 88428 0 0 0 0 0 242980 0 0 0 RAMESH THADANI PARTIAL YEAR EXECUTIVE VP, MARKET DEVELOPMENT 34933 0 130789 0 0 0 0 0 0 0 165722 0 0 0 SAMUEL R REIMER CHIEF FINANCIAL OFFICER 338670 0 137402 0 0 0 60425 0 0 0 536497 0 0 0 SHERRI SAMPSON CHIEF HR OFFICER, GENERAL COUNSEL 359472 0 128851 0 0 0 47448 0 0 0 535771 0 0 0 BETTY SU CHIEF MARKETING OFFICER 245797 0 107395 0 0 0 48016 0 0 0 401208 0 0 0 JOY JONES PARTIAL YEAR CHIEF PRODUCT OFFICER 193083 0 90000 0 0 0 34584 0 0 0 317667 0 0 0 ASHOK SARATHY VP, PRODUCT MANAGEMENT 250703 0 89933 0 0 0 44863 0 0 0 385499 0 0 0 DAVID MOLDAVSKY VP, BUSINESS OPERATIONS 261017 0 104750 0 0 0 47147 0 0 0 412914 0 0 0 FANMIN GUO PARTIAL YEAR VP, PSYCHOMETRIC RESEARCH 158528 0 82684 0 -14571 0 29461 0 0 0 256102 0 0 0 ANDREW MARTELLI VP, PRODUCT DEVELOPMENT 228578 0 91523 0 0 0 39750 0 0 0 359851 0 0 0 SABRINA WHITE VP, AMERICAS 241339 0 82002 0 0 0 44997 0 0 0 368338 0 0 0 ASHISH BHARDWAJ VP, APAC 324396 0 0 0 0 0 89440 0 0 0 413836 0 0 0 PART I, LINE 1A -ACCORDING TO GMAC TRAVEL POLICY FOR VICE PRESIDENTS AND ABOVE, GMAC WILL REIMBURSE FOR COACH-CLASS AIR TRAVEL FOR ONE-WAY FLIGHTS LESS THAN 2.5 HOURS IN DURATION. IF THE FLIGHT IS 2.5 HOURS OR LONGER, GMAC WILL COVER THE COST OF THE NEXT TICKET CLASS. FIRST CLASS TRAVEL IS ALLOWED FOR THE CEO. -THE GROSS PAYMENTS TO THE INDIVIDUAL WERE INSIGNIFICANT AND RELATE TO STAFF ANNIVERSARY RECOGNITIONS AND AWARDS. AS REQUIRED BY TAX LAW, ANY APPROPRIATE AMOUNTS ARE INCLUDED IN THE COMPENSATION OF THE INDIVIDUAL. PART I, LINE 4A 1. FANMIN GUO SEVERANCE - $4,486 457B DISTRIBUTION - $19,057 2. ROBERT ALIG SEVERANCE - $109,719 457B DISTRIBUTION - $21,292 PART II COLUMN (B)(II) INCLUDED IN THE BONUS AND INCENTIVE COMPENSATION COLUMN FOR SANGEET CHOWFLA IS A 2016 ANNUAL BONUS OF $188,000 PAID IN 2017, AND $880,000 OF LONG-TERM INCENTIVE, PREVIOUSLY REPORTED IN COLUMN C OF TAX YEARS 2014, 2015, AND 2016. PART II COLUMN (C) INCLUDED IN THE AMOUNT OF DEFERRED COMPENSATION FOR SANGEET CHOWFLA IS A LONG-TERM INCENTIVE COMPENSATION PLAN ACCRUAL OF $125,000 FOR 2017 THAT WILL BE PAID IN 2020. THE REMAINING AMOUNT IS A 403(B) CONTRIBUTION BY GMAC. OTHER OFFICERS AND VICE PRESIDENTS ALSO HAVE LONG-TERM INCENTIVE COMPENSATION AND 403(B) CONTRIBUTIONS, EXCEPT FOR FANMIN GUO. FORM 990, PART VI, SECTION A, LINE 6 GRADUATE MANAGEMENT ADMISSION COUNCIL HAS ONE CLASS OF MEMBERS - GRADUATE BUSINESS MANAGEMENT SCHOOLS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT THE DEAN AND REPRESENTATIVE 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 B, LINE 11B EACH MEMBER OF THE BOARD OF DIRECTORS IS GIVEN ELECTRONIC ACCESS TO A COPY OF THE FORM 990 WHILE IN DRAFT FORM (PRIOR TO FILING WITH THE IRS) AND ASKED TO REVIEW AND SUBMIT COMMENTS TO GMAC MANAGEMENT PRIOR TO FILING. GMAC OFFICERS AND SENIOR STAFF ARE ALSO REQUIRED AND GIVEN ACCESS TO REVIEW FORM 990 PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, OFFICER, AND KEY EMPLOYEE HAS AN ONGOING OBLIGATION TO DISCLOSE POTENTIAL OR ACTUAL CONFLICTS. FOR DIRECTORS, THE NOMINATING AND GOVERNANCE COMMITTEE IS RESPONSIBLE FOR REVIEWING AND DETERMINING WHETHER A CONFLICT EXISTS. THIS COMMITTEE MAKES A RECOMMENDATION TO THE BOARD CONCERNING ANY RESTRICTIONS TO BE PLACED ON THE CONFLICTED DIRECTOR. FOR EMPLOYEES, THE CEO AND THE GENERAL COUNSEL REVIEW POTENTIAL OR ACTUAL CONFLICTS, DETERMINE WHETHER A CONFLICT EXISTS, AND RECOMMEND ACTION. RESTRICTIONS RANGE FROM RECUSAL TO TERMINATION. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS IS RESPONSIBLE FOR DETERMINING THE COMPENSATION OF THE CEO. THE COMPENSATION COMMITTEE ANNUALLY REVIEWS AND APPROVES GMAC CORPORATE GOALS AND OBJECTIVES, EVALUATES THE CEO'S PERFORMANCE IN LIGHT OF SUCH GOALS AND OBJECTIVES AND DETERMINES COMPENSATION BASED ON THIS EVALUATION AND IN ACCORDANCE WITH ANY APPLICABLE EMPLOYMENT AGREEMENT. THE COMMITTEE 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 SANCTIONS RULES OF IRC SECTION 4958. THE CEO IS RESPONSIBLE FOR DETERMINING THE COMPENSATION OF TOP MANAGEMENT. GMAC RETAINS INDEPENDENT COMPENSATION CONSULTANTS AND REPUTABLE SALARY SURVEY MARKET DATA TO EVALUATE COMPENSATION COMPARABILITY. THE COMPENSATION COMMITTEE AND THE CEO ANNUALLY REVIEW THE COMPENSATION DATA FOR ALL OFFICERS. TYPICALLY, EVERY TWO YEARS A COMPENSATION ANALYSIS IS CONDUCTED FOR ALL EMPLOYEES. A COMPREHENSIVE ANALYSIS WAS COMPLETED IN 2017. GMAC CONDUCTS VARIOUS ANALYSES UPON REQUEST. THE CEO AND CHIEF HR OFFICER REVIEW THE DATA AND DETERMINE APPROPRIATE COMPENSATION. 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. FORM 8858, LINE 5: GMAC IS AN U.S. ORGANIZATION THAT OWNS 100% OF THE FOUR FOREIGN DISREGARDED ENTITIES (GRADUATE MANAGEMENT ADMISSION COUNCIL (HK), GRADUATE MANAGEMENT ADMISSION COUNCIL (INDIA) PRIVATE LTD, GRADUATE MANAGEMENT GLOBAL CONNECTION (UK) LIMITED, AND GRADUATE MANAGEMENT GLOBAL CONNECTION (INDIA) PRIVATE LTD.) GRADUATE MANAGEMENT ADMISSION COUNCIL HONG KONG LIMITED 908 9TH FLOOR KWAH CENTER NO 19 HK CONDUCT EDUCATIONAL RESEARCH, EXCHANGE INFO AND PROVIDE SERVICES HK 2168331 822006 GRADUATE MANAGEMENT ADMISSION COUNCIL GRADUATE MANAGEMENT ADMISSION COUNCIL INDIA PRIVATE LIMITED 405 SUNCITY BUSINESS TOWER SECTOR GURUGRAM IN 1222011 CONDUCT EDUCATIONAL RESEARCH, EXCHANGE INFO AND PROVIDE SERVICES IN 1574284 767763 GRADUATE MANAGEMENT ADMISSION COUNCIL GRADUATE MANAGEMENT GLOBAL CONNECTION (UK) LTD ST CLEMENTS HOUSE 27-28 CLEMENTS L LONDON UK E4N 7AE CONDUCT EDUCATIONAL RESEARCH, EXCHANGE INFO AND PROVIDE SERVICES UK 1999975 1238063 GRADUATE MANAGEMENT ADMISSION COUNCIL GRADUATE MANAGEMENT GLOBAL CONNECTION (INDIA) PRIVATE LIMITED 405 SUNCITY BUSINESS TOWER SECTOR GURUGRAM IN 1222011 CONDUCT EDUCATIONAL RESEARCH, EXCHANGE INFO AND PROVIDE SERVICES IN 2447310 6262906 GRADUATE MANAGEMENT ADMISSION COUNCIL