2018-03-13T13:29:04-05:00 2017-06-30 Grant Thornton LLP 1000 WILSON BLVD SUITE 1400 ARLINGTON VA 22209 990 2016-07-01 541603842 George Mason University Foundation Inc % JANET BINGHAM GEOR 7039938850 4400 University Drive MSN 1A3 Fairfax VA 220304444 JANET BINGHAM PRESIDENT 7039938850 2018-03-09 true Mary Torretta P00847851 7038477500 209.220.136.124 54681420180725000003 2018-03-13 P AA918D8483008E32154F6CC583B06457B9AF9E42 AA918D8483008E32154F6CC583B06457B9AF9E42 2016 2021-01-29 14:40:06Z X JANET BINGHAM 4400 University Drive MSN 1A3 Fairfax VA 220304444 157928078 false X See Schedule O X 1991 VA To advance and further the aims and purposes of George Mason University. See Schedule O. 45 38 0 50 2422845 73732177 62567864 13373850 13190212 6505516 6278450 1124636 2983822 94736179 85020348 41935893 54444961 0 0 1194475 1212912 0 0 306225 25975665 22996226 69106033 78654099 25630146 6366249 397768759 402741001 199319966 196283244 198448793 206457757 X SEE SCHEDULE O. false false 76174890 54444961 13791722 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 AND OTHER DEPARTMENTS. 76174890 true true false true false false false true true true true true false true true true true true false false true false false false true false false true true true true false false false false false false false false false false true true false false true true true false true false true 558 0 true 0 true true false false false true true true true false false false false X 45 38 false false false false false false false true true false false true true true true true true true true false AK 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 X X JANET BINGHAM 7039938850 4400 UNIVIVERSITY DRIVE MSN 1A3 Fairfax VA 220304444 X Joseph J O'Brien Jr Chair 1.0 0.0 X X 0 0 0 Terri C Beirne Vice Chair 1.0 0.0 X X 0 0 0 Jeffery M Johnson Treasurer 1.0 0.0 X X 0 0 0 John T Niehoff Secretary 1.0 0.0 X X 0 0 0 Janet Bingham Trustee/President 20.0 20.0 X X 0 302059 31733 Henry Butler Trustee 0.5 40.0 X 0 656162 60041 Angel Cabrera Trustee 0.5 40.0 X 0 639719 158174 James J Consagra Trustee 0.5 0.0 X 0 0 0 Dennis J Cotter Trustee 0.5 0.0 X 0 0 0 Jeffrey S Detwiler Trustee 0.5 0.0 X 0 0 0 Gene L Frogale Trustee 0.5 0.0 X 0 0 0 Nicole A Geller Trustee 0.5 0.0 X 0 0 0 Timothy Gillis Trustee 0.5 0.0 X 0 0 0 Benjamin H Graham Trustee 0.5 0.0 X 0 0 0 Alfred Grasso Trustee 0.5 0.0 X 0 0 0 Dorothy S Gray Trustee 0.5 0.0 X 0 0 0 Brian J Hays Trustee 0.5 0.0 X 0 0 0 Kevin M Hern Trustee 0.5 0.0 X 0 0 0 Todd R House Trustee 0.5 0.0 X 0 0 0 Najaf S Husain Trustee 0.5 0.0 X 0 0 0 Paul E Kyle Trustee 0.5 0.0 X 0 0 0 Kay W Lewis Trustee 0.5 0.0 X 0 0 0 M Yaqub Mirza Trustee 0.5 0.0 X 0 0 0 Trevor J Montano Trustee 0.5 0.0 X 0 0 0 John R Muha II Trustee 0.5 0.0 X 0 0 0 Michael A Murray Trustee 0.5 0.0 X 0 0 0 J D Myers II Trustee 0.5 0.0 X 0 0 0 Gary G Nakamoto Trustee 0.5 0.0 X 0 0 0 Elavie Ndura Trustee 0.5 40.0 X 0 111877 18851 Robert W Noonan Trustee 0.5 0.0 X 0 0 0 Dolly C Oberoi Trustee 0.5 0.0 X 0 0 0 Ronald D Paul Trustee 0.5 0.0 X 0 0 0 John Paul Phaup Trustee 0.5 0.0 X 0 0 0 Thomas Prohaska Trustee 0.5 40.0 X 0 246308 45895 Kenneth D Reid Trustee 0.5 0.0 X 0 0 0 David A Roe Trustee/DR of Admin,end 9/9/16 40.0 0.0 X 0 148559 20963 Ali A Saadat Trustee 0.5 0.0 X 0 0 0 Carole J Scott Trustee 0.5 0.0 X 0 0 0 Jeffrey A Smith Trustee 0.5 0.0 X 0 0 0 Susan E Soza Trustee 0.5 0.0 X 0 0 0 Michael E Stievater Trustee 0.5 0.0 X 0 0 0 Sonya J Stone Trustee 0.5 0.0 X 0 0 0 Bruce D Wardinski Trustee 0.5 0.0 X 0 0 0 Daniel R Wotring Trustee 0.5 0.0 X 0 0 0 Mary Susan Van Leunen Chief Financial Officer 40.0 0.0 X X 0 131042 24323 Louise C Nelson Trustee, end 10/24/16 0.5 0.0 X 0 0 0 William Schuster Trustee, end 9/15/16 0.5 0.0 X 0 0 0 Thomas M Davis III trustee 0.5 0.0 X 0 0 0 0 2235726 359980 0 false true false R B COMMUNICATIONS LLC PO BOX 1147 HAYMARKET VA 20168 PUBLICATIONS 272479 Bluetext LLC 2121 Wisconsin Avenue NW Suite 320 WASHINGTON DC 20007 MARKETING 201022 MARK SCHULTZ 37 LAKE INDIAN HILLS RIDGE CARBONDALE IL 62902 CONSULTING 149800 UniGlobe Ulti-Max Travel LLC 22375 Broderick Drive Suite 140 STERLING VA 20166 Travel Management 145230 Quality Caulking Waterproofing L 14827 Statler Drive WOODBRIDGE VA 22193 facilities maint. 119562 6 85894 62481970 763087 62567864 RENT FROM GMU/STUDENTS 900002 8255269 8255269 INTEREST ON DIRECT FINANCING LEASE 531190 4860543 4860543 RENT FROM CAPITOL CONNECTION 900002 22800 22800 RENT FROM PROVOST 900002 51600 51600 13190212 3449442 21091 3428351 0 0 6551035 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PROVIDED GRANTS TO OTHER ORGANIZATIONS FOR PROFESSIONAL SERVICES RELATED TO LOBBYING FOR ISSUES IN HIGHER EDUCATION. 33900 161652 X false false true X 71566373 3239253 6125724 3238913 77692437 72245124 1819192 -103974 2393969 71566373 69554336 4897031 732601 2938844 72245124 59260526 5242288 7807989 2756467 69554336 55164969 2040650 4189281 2134374 59260526 0.00010 0.99990 false false 27109091 27109091 93393116 37238366 56154750 0 2742764 1512821 1229943 84493784 ALTERNATIVE INVESTMENTS 22332348 F 22332348 NET INV. IN DIRECT FIN. LEASE 78998116 BENEFICIAL INT IN PERP. TRUST 10902461 OTHER ASSETS 1976980 DEFERRED TAX ASSET 1814447 LEASING COMMISSIONS 670202 ANNUITY BENEFIT CONTRACT 595771 ART & ANTIQUES 161652 REAL ESTATE HOLDINGS 36982 95156611 0 UNEARNED RENT 7638194 DERIVATIVE OBLIGATIONS 4722777 ACCRUED ANNUITY BENEFIT 595771 SECURITY DEPOSITS 20833 12977575 X 90671485 3012338 91328 2779658 5883324 84788161 300325 -68138 232187 85020348 82662521 91328 4217419 4308747 78353774 300325 300325 78654099 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 450 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 CODE. 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, 2014 through 2017 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 588,860 GMUF ARLINGTON CAMPUS, EXPENSE (ALLOCATED) 4,149,281 UNREALIZED Gain ON DERIVATIVES 2,914,728 INCOME TAX Expense (939,886) LOSS ON DEFEASANCE (3,933,325) ----------- TOTAL TO SCHEDULE D, PART XI, LINE 2D 2,779,658 OTHER ADJUSTMENTS TO REVENUE Schedule D, Part XI, Line 4B: FUNDRAISING EVENT EXPENSES (68,138) OTHER ADJUSTMENTS TO EXPENSES SCHEDULE D, PART XII, LINE 2D GMUF ARLINGTON CAMPUS, EXPENSE (ALLOCATED) 4,149,281 FUNDRAISING EVENT EXPENSES 68,138 ---------- TOTAL TO SCHEDULE D, PART XII, LINE 2D 4,217,419 Europe (Including Iceland and Greenland) Program Services Research, Travel 2991 North America Program Services Research, Travel 18750 Middle East and North Africa Program Services Research, Travel 9377 Sub-Saharan Africa Program Services Research, Travel 580 North America Investments 5783647 Central America and the Caribbean Investments 6704003 Europe (Including Iceland and Greenland) Investments 2353585 14872933 14872933 true false false false true false OTHER INFORMATION SCHEDULE F, PART I, LINE 2 THE GEORGE MASON UNIVERSITY FOUNDATION FOLLOWS ESTABLISHED DISBURSEMENT PROCEDURES THAT ENSURE ALL PAYMENTS ARE PROPERLY DOCUMENTED, SUPPORTED, 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. 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 29980 19745 10235 3353 9424 300 650 3324 PC Spring Golf 17420 10460 6960 4487 12402 1643 1658 2 87190 55689 31501 1836 12159 6184 10718 134590 85894 48696 9676 33985 8127 650 15700 68138 -19442 true George Mason University 4400 University Drive Fairfax VA 22030 540836354 170/115 7222650 Salary Support George Mason University 4400 University Drive Fairfax VA 22030 540836354 170/115 1272152 Benefits Support George Mason University 4400 University Drive Fairfax VA 22030 540836354 170/115 4433695 Scholarships George Mason University 4400 University Drive Fairfax VA 22030 540836354 170/115 15633385 Operations Support George Mason University 4400 University Drive Fairfax VA 22030 540836354 170/115 688835 Eminent Scholars Mercatus Center Inc 3351 N Fairfax Drive Arlington VA 22201 521328708 501(c)(3) 24564935 Program Support 2 0 Scholarships 322 629309 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 X false true false false false false false false false Janet Bingham Trustee/President 0 272927 0 25000 0 4132 0 23679 0 8054 0 333792 0 0 Henry Butler Trustee 0 650204 0 0 0 5958 0 42101 0 17940 0 716203 0 0 Angel Cabrera Trustee 0 542533 0 81312 0 15874 0 63595 0 94579 0 797893 0 0 Thomas Prohaska Trustee 0 239750 0 0 0 6558 0 33661 0 12234 0 292203 0 0 David A Roe Trustee/DR of Admin,end 9/9/16 0 147302 0 0 0 1257 0 20963 0 0 0 169522 0 0 Mary Susan Van Leunen Chief Financial Officer 0 129956 0 0 0 1086 0 18485 0 5838 0 155365 0 0 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. Supplemental Non-qualified Retirement Plan Schedule J, Part I, Line 4b The following individual participated in a supplemental non-qualified retirement plan. The contributions to the plan are included in Schedule J, Part II, Column (C) as part of deferred compensation: Angel Cabrera $27,104 A Fairfax county economic development authority 911910090 2013-05-30 25520000 Refund of $25,520,000 of issue dat false false false B Fairfax county economic development authority 911910090 2010-04-21 36100000 FINANCING FOR BUILDINGS AND STRUCT false false false C IDA OF THE COUNTY OF PRINCE WILLIAM 521325659 74176GAG2 2011-08-11 14754439 FINANCING FOR BUILDINGS AND STRUCT false false false A 0 0 25520000 0 0 0 0 0 0 0 25520000 0 2004 true false true true B 0 0 32100000 0 0 0 200495 0 557425 31342080 0 0 2012 false 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 false 0.00000 false true B false true false true true 0.00000 0.00000 0.00000 false false 0.00000 false true C false false false false 0.00000 0.00000 0.00000 false false 0.00000 false true A false false true false 0 false 0 false true B false true true true BANK OF AMERICA 25. false false 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 $25,520,000 OF ISSUE DATED 10/7/03 Part I, Column F, Line B Financing for buildings and structures Part I, Column F, Line C Financing for budilings and structures PART II, COLUMN B, LINE 3 TOTAL PROCEEDS OF ISSUE WERE $32,100,000 WHICH WAS THE AMOUNT DRAWN DOWN AND SPENT. TOTAL BOND ISSUANCE PRICE WAS $36,100,000. $4,000,000 WAS NEVER DRAWN OR SPENT BY THE FOUNDATION. PART II, COLUMN B, LINE 9 UNEXPECTED EXCESS SALE PROCEEDS DUE TO COST SAVINGS ON THE PROJECT WERE USED TO PAY INTEREST EXPENSES OF $557,425. PART II, COLUMN C, LINE 9 UNEXPECTED EXCESS SALE PROCEEDS DUE TO COST SAVINGS ON THE PROJECT WERE USED TO PAY INTEREST EXPENSES OF $3,738. 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 2 33900 appraisal X 29455 appr, comp sales X 28 646303 market sales X laboratory supplies 3 10635 Appr X electronics 4 20294 appr, comp sales X software 1 22500 appr, comp sales 4 false true false GENERAL INFORMATION FORM 990, LINE J WEBSITE: HTTP://FASTERFARTHER.GMU.EDU/GEORGE-MASON-UNIVERSITY-FOUNDATION-INC 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 ASSIST THE UNIVERSITY IN GENERATING PRIVATE SUPPORT AND TO MANAGE, INVEST, AND ADMINISTER PRIVATE GIFTS, INCLUDING ENDOWMENT AND REAL PROPERTY. 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. 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 588,860 UNREALIZED GAIN ON DERIVATIVES 2,914,728 INCOME TAX Expense (939,886) LOSS ON DEFEASANCE (3,933,325) ----------- TOTAL TO SCHEDULE D, PART XI, LINE 2D (1,369,623) GMUF Arlington Campus LLC 4400 University Drive Fairfax VA 22030 542010573 real estate VA 9487018 66768528 GMUF GMUF Mason Administration LLC 4400 University Drive Fairfax VA 22030 270937708 real estate VA 3539114 30497192 GMUF GMUF Prince William Housing LLC 4400 University Drive Fairfax VA 22030 452918081 real estate VA 1005601 16747833 GMUF GMUF Prince William Life Sciences Lab 4400 University Drive Fairfax VA 22030 452918190 real estate VA -1974730 31969946 GMUF GMUF Commerce Buildings LLC 4400 University Drive Fairfax VA 22030 462592279 real estate VA 498985 5239333 GMUF George Mason University 4400 University Drive Fairfax VA 22030 540836354 education VA 115 NA false Ch Henry Smith Jr Char Rem Unitrust 4400 Univ Drive Merten Hall Ste 2 Fairfax VA 22030 546448320 annuity trust VA GMUF Trust 4456 41634 0.55100 true false true false false false false false false false true true false true true false true false false false