2016-08-10T11:51:35-05:00 2015-09-30 420714325 RSM US LLP 1185 AVENUE OF THE AMERICAS NEW YORK NY 100362602 990 2014-10-01 237270753 AMERICAN ASSOCIATES BEN-GURION UNIVERSITY OF THE NEGEV INC AMER 2126877721 1001 AVENUE OF THE AMERICAS 19TH FL NEW YORK NY 10018 JULIA NELSON CFO 2126877721 2016-08-10 1 MARTIN GREIF P00029738 2123721000 2014 2016-12-15 16:53:06Z DORON KRAKOW 1001 AVENUE OF THE AMERICAS 19TH FL NEW YORK NY 10018 70685295 0 X WWW.AABGU.ORG X 1973 NY AABGU PLAYS A VITAL ROLE IN CREATING A WORLD CLASS UNIVERSITY IN THE ISRAELI DESERT. 70 69 53 150 0 0 37840966 43453517 0 0 11767024 2463735 -25263 -82188 49582727 45835064 26659609 23228252 0 0 5356337 5780378 30000 30000 5980009 3414009 3187818 35459955 32226448 14122772 13608616 226058132 228065937 13240629 15681684 212817503 212384253 AABGU PLAYS A VITAL ROLE IN SUSTAINING DAVID BEN GURION'S VISION, CREATING A WORLD CLASS INSTITUTION OF EDUCATION AND RESEARCH IN THE ISRAELI DESERT, NURTURING THE NEGEV COMMUNITY AND SHARING THE UNIVERSITY'S EXPERTISE LOCALLY AND AROUND THE GLOBE. 0 0 23157304 23157304 SUPPORT FOR BEN-GURION UNIVERSITY INCLUDED GRANTS FOR ACADEMIC RESEARCH, HONORS PROGRAMS, SCHOLARSHIPS, BUILDINGS (INCLUDING DORMITORIES AND RESEARCH FACILITIES), EQUIPMENT AND OTHER CAPITAL PROJECTS, COMMUNITY OUTREACH EFFORTS AND SPECIFIC PROGRAMS AT THE UNIVERSITY'S MEDICAL SCHOOL, BUSINESS SCHOOL, AND INSTITUTES FOR DESERT RESEARCH AND WATER RESEARCH. 460096 70948 AABGU'S OVERSEAS STUDENT PROGRAM RECRUITS STUDENTS FROM THE U.S. TO STUDY AT BEN-GURION UNIVERSITY IN ISRAEL. 209457 THE AABGU ZIN FELLOWS LEADERSHIP DEVELOPMENT PROGRAM IS A TWO-YEAR PROGRAM, INCORPORATING TWO IN-PERSON GATHERINGS IN THE UNITED STATES FOLLOWED BY A TRIP TO ISRAEL. EACH ZIN FELLOWS CLASS CONSISTS OF 15 TO 20 OUTSTANDING INDIVIDUALS, AGES 35 TO 50, CURRENT AND FUTURE COMMUNITY LEADERS FROM ACROSS THE UNITED STATES, WHO ARE INTERESTED IN A NEW AND UNIQUE OPPORTUNITY TO BE ENGAGED IN THE FUTURE OF ISRAEL THROUGH THEIR CONNECTION TO THE NEGEV REGION. 23826857 1 1 0 0 0 1 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 1 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 34 0 1 53 1 0 0 0 0 0 1 1 0 0 0 0 X 70 69 1 0 0 0 0 0 0 1 1 0 1 0 1 1 1 1 1 1 1 1 0 AK AL AR CA CO CT DC FL GA HI IL KS KY MA MD ME MI MS MN NC ND NJ NH NM NY OH OK OR PA RI SC TN UT VA WA WI WV X X JULIA A NELSON 6464523690 1001 AVENUE OF THE AMERICAS 19TH FL NEW YORK NY 10018 X ZVI ALON DIRECTOR 1.00 X 0 0 0 ROBERT ARNOW PAST PRESIDENT 1.00 X 0 0 0 JOSHUA ARNOW DIRECTOR 1.00 X 0 0 0 ARNOLD BENGIS DIRECTOR 1.00 X 0 0 0 RICHARD BERNSTEIN DIRECTOR 1.00 X 0 0 0 JACK R BERSHAD DIRECTOR 1.00 X 0 0 0 MARTIN BLACKMAN DIRECTOR 1.00 X 0 0 0 JAMES BRESLAUER DIRECTOR 1.00 X 0 0 0 SYLVIA BRODSKY DIRECTOR 1.00 X 0 0 0 ROBERT COLTON DIRECTOR 1.00 X 0 0 0 JACOB DAYAN ASSISTANT TREASURER 1.00 X X 0 0 0 ROCHELLE ETINGIN DIRECTOR 1.00 X 0 0 0 ANTHONY FELZEN DIRECTOR 1.00 X 0 0 0 STEVEN FINKELMAN DIRECTOR 1.00 X 0 0 0 STEWART FLINK DIRECTOR 1.00 X 0 0 0 RUTH FLINKMAN-MARANDY VICE PRESIDENT 1.00 X X 0 0 0 DEBORAH FOX DIRECTOR 1.00 X 0 0 0 DODI FROMSON DIRECTOR 1.00 X 0 0 0 LIS GAINES DIRECTOR 1.00 X 0 0 0 STANLEY GINSBURG VICE PRESIDENT 1.00 X X 0 0 0 DORIAN GOLDMAN DIRECTOR 1.00 X 0 0 0 LLOYD GOLDMAN PRESIDENT 5.00 X X 0 0 0 ALEXANDER GOREN DIRECTOR 1.00 X 0 0 0 JASON GOTTLIEB DIRECTOR 1.00 X 0 0 0 BEN GUEFEN SECRETARY 1.00 X X 0 0 0 WILLIAM HANDY DIRECTOR 1.00 X 0 0 0 ARTHUR HESSEL DIRECTOR 1.00 X 0 0 0 SONYA HURST DIRECTOR 1.00 X 0 0 0 IRA INGERMAN TRESURER 3.00 X X 0 0 0 MARVIN ISRAELOW DIRECTOR 1.00 X 0 0 0 MAX JAVIT DIRECTOR 1.00 X 0 0 0 BILLY JOEL VICE PRESIDENT 1.00 X X 0 0 0 EDWARD KAPLAN DIRECTOR 1.00 X 0 0 0 LEON KAPLAN DIRECTOR 1.00 X 0 0 0 CAROL KIMMEL DIRECTOR 1.00 X 0 0 0 DONNA LAM DIRECTOR 1.00 X 0 0 0 MARIBETH LERNER DIRECTOR 1.00 X 0 0 0 MICHELE LEVIN DIRECTOR 1.00 X 0 0 0 NAT LEVY DIRECTOR 1.00 X 0 0 0 JAN ABBY LIFF DIRECTOR 1.00 X 0 0 0 SHELLY LONDON DIRECTOR 1.00 X 0 0 0 ROBERT MANN DIRECTOR 1.00 X 0 0 0 ELLEN MARCUS DIRECTOR 1.00 X 0 0 0 JOANNE MOORE DIRECTOR 1.00 X 0 0 0 MARJORIE OFFER DIRECTOR 1.00 X 0 0 0 MICHAEL RAHAV DIRECTOR 1.00 X 0 0 0 JOEL REINSTEIN DIRECTOR 1.00 X 0 0 0 LYON ROTH DIRECTOR 1.00 X 0 0 0 DR GABRIEL RUBANENKO DIRECTOR 1.00 X 0 0 0 CAROL SAAL DIRECTOR 1.00 X 0 0 0 LITE SABIN DIRECTOR 1.00 X 0 0 0 MAX SCHECHNER DIRECTOR 1.00 X 0 0 0 ERNEST SCHELLER VICE PRESIDENT 1.00 X X 0 0 0 JANE GURAL SENDERS DIRECTOR 1.00 X 0 0 0 JACOB SHOCHAT DIRECTOR 1.00 X 0 0 0 MURRAY SHUSTERMAN DIRECTOR 1.00 X 0 0 0 FREDERICK SIEGMUND VICE PRESIDENT 1.00 X X 78969 0 0 JESSICA SILLINS VICE PRESIDENT 1.00 X X 0 0 0 ERNEST SIMON DIRECTOR 1.00 X 0 0 0 HARRIET SOFFA DIRECTOR 1.00 X 0 0 0 ALTON SUTNICK VICE PRESIDENT 1.00 X X 0 0 0 CHARLES TEMEL DIRECTOR 1.00 X 0 0 0 IRA WAGNER DIRECTOR 1.00 X 0 0 0 MARTIN WEINBERG DIRECTOR 1.00 X 0 0 0 AILEEN WHITMAN DIRECTOR 1.00 X 0 0 0 WAYNE WOODMAN VICE PRESIDENT 1.00 X X 0 0 0 TONI YOUNG VICE PRESIDENT 1.00 X X 0 0 0 MONA ZEEHANDELAAR DIRECTOR 1.00 X 0 0 0 DR ROBERT ZIPKIN DIRECTOR 1.00 X 0 0 0 ROY J ZUCKERBERG DIRECTOR 1.00 X 0 0 0 DORON KRAKOW EXECUTIVE V.P. 40.00 X 381250 0 41791 HARRY P GREENWALD CHIEF FINANCIAL & ADMINISTRATIVE OFFICER 40.00 X 218939 0 47404 PHILIP S GOMPERTS REGIONAL DIRECTOR 40.00 X 262763 0 42693 KEVIN LEOPOLD EXECUTIVE DIRECTOR NORTHEAST 40.00 X 241638 0 50422 CLAIRE WINICK REGIONAL DIRECTOR 40.00 X 164836 0 33380 DAPHNA NOILY REGIONAL DIRECTOR 40.00 X 166084 0 34567 RONNI MORDECHAI-STRONGIN VP. MARKETING & 40.00 X 152886 0 43171 ANDREA MEISELES DIRECTOR OVERSEAS STUDENT PROGRAM 40.00 X 135915 0 19285 KEREN WARANCH REGIONAL DIRECTOR 40.00 X 132296 0 39779 JAY LEIPZIG SENIOR PHILANTHROPIC ADVISOR 40.00 X 123129 0 8007 DEBORAH BERGERON REGIONAL DIRECTOR 40.00 X 122627 0 30832 2181332 0 391331 17 0 1 0 A B DATA LTD 600 A B DATA DRIVE MILWAUKEE WI 53217 DIRECT MAIL 260789 DRG 275 MADISON AVE SUITE 1203 NEW YORK NY 10016 EXECUTIVE SEARCH CONSULTANTS 141389 RSM 1185 AVE OF THE AMERICAS 8TH FLOO NEW YORK NY 10036 AUDIT/TAX 124111 3 109337 43344180 1298689 43453517 1519551 1519551 25648382 2595 24704198 2595 944184 0 944184 944184 61250 109337 143438 -82188 -82188 45835064 0 0 2381547 70948 70948 23157304 23157304 1707023 76425 324081 1306517 3196406 142335 657663 2396408 143892 5707 30169 108016 393858 15622 82578 295658 339199 13454 71118 254627 20995 20995 121525 121525 30000 30000 174830 174830 170430 21380 148115 935 616726 32687 93754 490285 211671 7820 81198 122653 62818 16589 42246 3983 411228 201395 209833 278272 84843 20597 172832 581441 177277 43038 361126 100098 100098 73509 73509 DIRECT MAIL CAMPAIGN 189245 189245 E-PHILANTHROPY 68488 68488 TEMPORARY HELP 36468 26442 10026 CLEANING 31585 1722 22647 7216 38489 2744 15096 20649 32226448 23826857 2419582 5980009 97978 89504 7322812 6915329 30714178 39085935 130346 189398 881164 438633 537526 442531 34919136 36118267 147297589 140290089 5038567 4934884 226058132 228065937 515854 616882 12724775 15064802 13240629 15681684 X 664056 -3995207 67815462 66604184 144337985 149775276 212817503 212384253 226058132 228065937 X 13608616 -3959514 -10082352 X 0 1 X 1 0 X 38343965 25232125 20710583 37840966 43453517 165581156 38343965 25232125 20710583 37840966 43453517 165581156 24202238 141378918 4111280 7097837 13316312 10341070 1519551 36386050 201930 114220 87352 113034 61250 577786 202544992 0.69800 0.68400 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SPECIAL EVENT GROSS INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 653834 63090 1177846 1 1 821706 422816 X 0 169734809 5405725 -3531229 7770001 85097 163754207 156542451 13764926 11584887 12075878 81577 169734809 142405172 5153922 14021180 4973046 64777 156542451 136103741 2765769 8265603 4729941 142405172 132097905 5178283 3047822 4222879 -2610 136103741 0.88000 0.12000 1 0 552857 192640 360217 231712 174731 56981 96595 71262 25333 442531 INVESTMENT - HELD IN ISRAEL 130922805 F INVESTMENT - LIMITED PARTNERSHIPS 7983484 F INVESTMENT - FOREIGN CORPORATION 1383800 F 140290089 DUE TO BEN-GURION UNIVERSITY 2184916 TUITION ADVANCES FROM OVERSEAS STUDENT PROGRAM 72583 OBLIGATIONS UNDER SPLIT-INTEREST AGREEMENTS 12310459 DEFERRED LEASE OBLIGATIONS AND INCENTIVE 496844 15064802 X 31790898 -3959514 -10084652 -14044166 45835064 0 45835064 32224148 0 32224148 2300 2300 32226448 PART III, LINE 4: COLLECTION OF SEVERAL THOUSAND BOOKS AND OTHER PUBLICATIONS ON HERPETOLOGY DONATED MANY YEARS AGO TO AABGU; THEY ARE ON LONG TERM LOAN AT NO CHARGE TO BEN-GURION UNIVERSITY, AND THE BOOK VALUE IS $821,706. AN ART DEALER DONATED OVER 100 PAINTINGS VALUED AT $509,540 IN 2008. SINCE THEN AABGU HAS BEEN SELLING THESE PAINTINGS. THE BOOK VALUE OF UNSOLD PAINTINGS IS $328,617. PART V, LINE 4: THE ENDOWMENT FUNDS ARE INTENDED TO PROVIDE SCHOLARSHIPS AND FELLOWSHIPS FOR STUDENTS AT BEN-GURION UNIVERSITY; TO SUPPORT RESEARCH IN A VARIETY OF ACADEMIC FIELDS AT BEN-GURION UNIVERSITY; TO SUPPORT THE MEDICAL SCHOOL, BUSINESS SCHOOL, DESERT STUDIES PROGRAMS AND OTHER POST GRADUATE PROGRAMS AT BEN-GURION UNIVERSITY. PART X, LINE 2: AABGU QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE IRC), AND IS A PUBLICLY SUPPORTED CHARITABLE ORGANIZATION AS DESCRIBED IN SECTION 509(A)(1) OF THE IRC. AABGU IS NOT CLASSIFIED AS A PRIVATE FOUNDATION, AND IS SUBJECT TO UNRELATED BUSINESS INCOME TAX (UBIT), IF APPLICABLE. FOR THE YEARS ENDED SEPTEMBER 30, 2015 AND 2014, AABGU DID NOT OWE ANY UBIT. MANAGEMENT HAS EVALUATED AABGU'S TAX POSITIONS AND CONCLUDED THAT AABGU HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT OR DISCLOSURE TO THE FINANCIAL STATEMENTS. WITH FEW EXCEPTIONS, AABGU IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2012, WHICH IS THE STANDARD STATUTE OF LIMITATIONS LOOK-BACK PERIOD. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -3,206,544. BAD DEBT RECOVERIES -2,300. FOREIGN CURRENCY EXCHANGE LOSS -6,875,808. PART XII, LINE 4B - OTHER ADJUSTMENTS: LOSS ON UNCOLLECTIBLE PLEDGES 2,300. FORM 990, SCHEDULE D, PART V, LINE 3A ENDOWMENTS HELD IN ISRAEL ARE EITHER TEMPORARILY RESTRICTED OR PERMANENTLY RESTRICTED GIFTS THAT HAVE BEEN TRANSMITTED TO BEN-GURION UNIVERSITY OF THE NEGEV ("BGU"), AND ARE MAINTAINED BY BGU ON BEHALF OF AABGU. EXCEPT FOR CERTAIN ENDOWMENT FUNDS WHICH REQUIRE THAT A PORTION OF THE EARNINGS BE REINVESTED IN THE ENDOWMENT FUND, ALL EARNINGS ON THE ENDOWMENTS MAINTAINED BY BGU ON BEHALF OF AABGU ARE AVAILABLE FOR SCHOLARSHIPS AND OTHER PROJECTS OF BGU. 1 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 PROGRAM SERVICES PAYMENTS TO VENDORS IN ISRAEL WERE FOR EXPENSES OF THE ANNUAL JOURNALISTS' MISSION, BRINGING BGU FACULTY TO SPEAK AT DONOR EVENTS IN THE U.S. AND FOR EXPENSES OF AABGU STAFF ACCOMPANYING DONORS ON VISITS TO BEN-GURION UNIVERSITY. 299203 MIDDLE EAST AND NORTH AFRICA 0 0 INVESTMENTS 130922805 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 2355877 MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 GRANTS TO RECIPIENTS 23157304 0 0 0 0 0 0 156735189 0 156735189 MIDDLE EAST AND NORTH AFRICA - ACADEMIC CHAIRS 24000 WIRE TRANSFER MIDDLE EAST AND NORTH AFRICA - ACADEMIC PRIZES 26579 WIRE TRANSFER MIDDLE EAST AND NORTH AFRICA - ACADEMIC RESEARCH 5443983 WIRE TRANSFER MIDDLE EAST AND NORTH AFRICA - BUSINESS SCHOOL 80000 WIRE TRANSFER MIDDLE EAST AND NORTH AFRICA - CAPITAL PROJECTS 11413868 WIRE TRANSFER MIDDLE EAST AND NORTH AFRICA - COMMUNITY OUTREACH 843321 WIRE TRANSFER MIDDLE EAST AND NORTH AFRICA - DESERT STUDIES 866704 WIRE TRANSFER MIDDLE EAST AND NORTH AFRICA - LIBRARY SUPPORT 32297 WIRE TRANSFER MIDDLE EAST AND NORTH AFRICA - MEDICAL SCHOOL AND HEALTH SERVICES 179476 WIRE TRANSFER MIDDLE EAST AND NORTH AFRICA - SCHOLARSHIPS 4014719 WIRE TRANSFER MIDDLE EAST AND NORTH AFRICA - UNIVERSITY OPERATIONS 232357 WIRE TRANSFER 1 0 0 0 1 0 0 0 PART I, LINE 2: AABGU RETAINS AN ACCOUNTING FIRM IN ISRAEL TO AUDIT THE UTILIZATION OF FUNDS GRANTED TO BEN-GURION UNIVERSITY (BGU). THIS ACCOUNTING FIRM ANNUALLY RECONCILES ALL GRANTS BY CATEGORY OF USE, PERFORMS TESTING TO SEE IF GRANTED FUNDS ARE APPLIED PROPERLY AND BIANNUALLY PROVIDES AABGU WITH A FULL AUDIT REPORT WITH THE RESULTS OF THE RECONCILIATION AND TESTING PROCEDURES. IN ADDITION FOR MAJOR GRANTS AABGU REQUESTS ANNUAL REPORTS FROM BGU ON HOW FUNDS WERE USED THAT YEAR. IN A FEW CASES AABGU FORMS OVERSIGHT COMMITTEES COMPOSED OF SOME MEMBERS OF ITS BOARD TO TRACK THE PROGRESS OF PROJECTS FUNDED BY AABGU GRANTS. X X X X X 1 AB DATA LTD 600 AB DATA DRIVE MILWAUKEE WI 53217 DIRECT MAIL SOLICITATIONS 1 304687 30000 274687 304687 30000 274687 AK AL AR CA CO CT DC FL GA HI IL KS KY MA MD ME MI MS MN NC ND NJ NH NM NY OH OK OR PA RI SC TN UT VA WA WI WV MA DINNER 107700 91200 16500 960 2202 24668 1507 35557 COCKTAIL RECEPTION - TX 62887 18137 44750 2510 4472 56530 15032 0 170587 109337 61250 3470 6674 81198 1507 50589 143438 -82188 1 SCHOLARSHIPS 12 70948 PART I, LINE 2: AABGU HAS A PROCEDURE WHERE STUDENTS HAVE TO APPLY FOR SCHOLARSHIPS. AABGU STAFF REVIEW THE APPLICATIONS AND MAKE RECOMMENDATIONS. THE RECOMMENDATIONS ARE REVIEWED BY A COMMITTEE AND SCHOLARSHIPS ARE AWARDED. IN MOST CASES THE SCHOLARSHIP AWARDS ARE NOT GIVEN DIRECTLY TO THE STUDENTS, THE CASH IS SENT TO A BANK ACCOUNT BGU MAINTAINS IN THE U.S. WITH A NOTE TO BGU EXPLAINING WHAT AMOUNTS HAVE BEEN AWARDED TO WHICH STUDENTS. IN MOST CASES, FULL SCHOLARSHIPS ARE NOT AWARDED, ONLY PARTIAL SCHOLARSHIPS. AABGU MAKES SURE THAT STUDENTS HAVE IN FACT ENROLLED IN THE PROGRAM AND PAID THEIR SHARE OF TUITION BEFORE SCHOLARSHIPS ARE AWARDED. IN A FEW CASES SCHOLARSHIP MONIES ARE DISBURSED DIRECTLY TO THE STUDENTS. X X X X 0 0 0 0 0 0 0 1 0 DORON KRAKOW EXECUTIVE V.P. 381250 0 0 0 0 0 39750 0 2041 0 423041 0 0 0 HARRY P GREENWALD CHIEF FINANCIAL & ADMINISTRATIVE OFF 218939 0 0 0 0 0 15775 0 31629 0 266343 0 0 0 PHILIP S GOMPERTS REGIONAL DIRECTOR 262763 0 0 0 0 0 20364 0 22329 0 305456 0 0 0 KEVIN LEOPOLD EXECUTIVE DIRECTOR NORTHEAST 241638 0 0 0 0 0 17519 0 32903 0 292060 0 0 0 CLAIRE WINICK REGIONAL DIRECTOR 164836 0 0 0 0 0 12775 0 20605 0 198216 0 0 0 DAPHNA NOILY REGIONAL DIRECTOR 158584 0 7500 0 0 0 12000 0 22567 0 200651 0 0 0 RONNI MORDECHAI-STRONGIN VP. MARKETING & 151086 0 1800 0 0 0 10823 0 32348 0 196057 0 0 0 ANDREA MEISELES DIRECTOR OVERSEAS STUDENT PROGRAM 135915 0 0 0 0 0 7507 0 11778 0 155200 0 0 0 KEREN WARANCH REGIONAL DIRECTOR 132296 0 0 0 0 0 9579 0 30200 0 172075 0 0 0 DEBORAH BERGERON REGIONAL DIRECTOR 122627 0 0 0 0 0 9503 0 21329 0 153459 0 0 0 PART I, LINE 7 AABGU INCLUDES A MERIT POOL IN ITS ANNUAL BUDGET. IN CALENDAR 2014 THE FOLLOWING EMPLOYEE RECEIVED ONE TIME BONUSES IN THE AMOUNT SHOWN - IN EACH CASE FOR OUTSTANDING PERFORMANCE: DAPHNA NOILY - $7,500 RONNI MORDECHAI-STRONGIN - $1,800 X 33 1298689 FMV 0 0 1 PART I, COLUMN (B): THE NUMBER OF CONTRIBUTIONS SHOWN ABOVE REPRESENTS THE TOTAL NUMBER OF STOCK DONATIONS DURING THE YEAR. PART I, LINE 32B: A DONOR GAVE AABGU NEARLY A HUNDRED PAINTINGS WHICH HAVE BEEN CONSIGNED TO AN ART DEALER TO SELL OVER TIME AS MARKET CONDITIONS PERMIT. FORM 990, PART VI, SECTION A, LINE 2 1. LLOYD GOLDMAN, DORIAN GOLDMAN, BOARD MEMBERS, HAVE FAMILY RELATIONSHIPS. 2. WAYNE WOODMAN AND ERNEST SCHELLER, BOARD MEMBERS, HAVE A FAMILY RELATIONSHIP. 3. ROBERT ARNOW AND JOSHUA ARNOW, BOARD MEMBERS, HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 10B AABGU HAS REGIONAL ADVISORY BOARDS IN SOME PARTS OF THE COUNTRY WHERE IT HAS SIGNIFICANT NUMBERS OF SUPPORTERS. THE COMPLIANCE OF REGIONAL ADVISORY BOARDS WITH POLICIES AND PROCEDURES OF THE NATIONAL ORGANIZATION IS ASSURED IN TWO WAYS: 1. REGIONAL ADVISORY BOARDS ARE GUIDED BY AABGU'S PROFESSIONAL DEVELOPMENT STAFF. 2. REGIONAL ADVISORY BOARDS INCLUDE ONE OR MORE MEMBERS OF AABGU'S NATIONAL BOARD (WHICH IS AABGU'S GOVERNING BODY). FORM 990, PART VI, SECTION B, LINE 11 THE REVIEW PROCESS FOR AABGU'S DRAFT 990 (BEFORE FILING) IS THAT THE BOARD'S AUDIT COMMITTEE REVIEWS THE DOCUMENT IN ITS ENTIRETY AND THE 990 IS NOT FILED UNTIL THE AUDIT COMMITTEE IS SATISFIED THAT IT IS IN ORDER. AFTER THE AUDIT COMMITTEE REVIEWS THE DRAFT 990, IT IS POSTED TO THE BOARD OF DIRECTORS SECTION OF THE AABGU WEBSITE, AND BOARD MEMBERS ARE NOTIFIED AT LEAST A WEEK BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C PROCEDURES RELATED TO AABGU'S CONFLICT OF INTEREST POLICY ARE AS FOLLOWS: 1. PRIOR TO THE BOARD'S ANNUAL MEETING EACH YEAR, CONFLICT OF INTEREST DISCLOSURE FORMS ARE DISTRIBUTED TO BOARD MEMBERS, OFFICERS AND KEY EMPLOYEES. 2. COMPLETED FORMS ARE COLLECTED AT THE ANNUAL MEETING. 3. THE PROFESSIONAL STAFF FOLLOWS UP WITH ANY BOARD MEMBERS, OFFICERS OR KEY EMPLOYEES WHO DID NOT PROVIDE A COMPLETED FORM AT THE ANNUAL MEETING TO OBTAIN A COMPLETED CONFLICT OF INTEREST DISCLOSURE FORM. 4. THE CFO REVIEWS THE COMPLETED FORMS FOR ANY EXISTING OR POTENTIAL CONFLICTS AND IF ONE EXISTS, APPROPRIATE FOLLOW UP ACTION IS UNDERTAKEN AS SET FORTH IN THE POLICY. THE ORGANIZATION'S CONFLICT OF INTEREST POLICY REQUIRES THAT INDIVIDUALS WITH CONFLICTS OF INTEREST WITH RESPECT TO A TRANSACTION OR ACTION MAY NOT PARTICIPATE IN THE DISCUSSION AND DECISION-MAKING WITH RESPECT TO THAT TRANSACTION OR ACTION. FORM 990, PART VI, SECTION B, LINE 15 AABGU HAS A COMPENSATION COMMITTEE. AABGU'S BY-LAWS PROVIDE: THE COMPENSATION COMMITTEE SHALL BE RESPONSIBLE FOR MAKING COMPENSATION RECOMMENDATIONS FOR ALL TOP EXECUTIVES, INCLUDING THE EXECUTIVE VICE PRESIDENT. IT SHALL PRESCRIBE POLICY STANDARDS WITH RESPECT TO PERFORMANCE, ESTABLISH CRITERIA FOR SUPPLEMENTAL BENEFITS AND PERQUISITES, ALL RELATIVE TO MARKET COMPETITIVENESS. THE RECOMMENDATIONS SHALL BE MADE AVAILABLE TO THE EXECUTIVE COMMITTEE FOR APPROVAL. THE CFO ANNUALLY PREPARES AN ANALYSIS OF THE COMPENSATION OF THE SENIOR OFFICERS OF THE OTHER "FRIENDS OF ISRAELI UNIVERSITIES ORGANIZATIONS BASED ON THE MOST RECENTLY AVAILABLE 990S. THIS MATERIAL IS PROVIDED TO THE COMPENSATION COMMITTEE IN ADVANCE OF ANY DELIBERATIONS WITH REGARD TO THE COMPENSATION OF SENIOR OFFICERS. FORM 990, PART VI, SECTION C, LINE 19 AABGU MAKES ITS AUDITED FINANCIAL STATEMENTS AND KEY GOVERNANCE DOCUMENTS AND POLICIES AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). AABGU POSTS A COPY OF THE 990 AND ITS AUDITED FINANCIAL STATEMENTS TO ITS WEBSITE. FORM 990, PART VII, SECTION A FREDERICK SIEGMUND, AABGU BOARD MEMBER AND ASSISTANT SECRETARY, ALSO PROVIDES LEGAL COUNSEL TO THE ORGANIZATION. HIS COMPENSATION SHOWN ON PART VII IS FOR HIS SERVICES PROVIDED TO THE ORGANIZATION AS LEGAL COUNSEL AND NOT FOR HIS BOARD SERVICE. FORM 990, PART VII THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN PART VII, COLUMN F, AND NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -3,206,544. FOREIGN CURRENCY TRANSLATION LOSS -6,875,808.