2016-05-06T08:20:34-05:00 2015-06-30 PRICEWATERHOUSECOOPERS LLP 300 MADISON AVENUE New York NY 10017 990 2014-07-01 237037968 THE COMMON FUND FOR NONPROFIT ORGANIZATIONS % LYNDON TEFFT COMM 2035635000 15 OLD DANBURY ROAD PO BOX 812 WILTON CT 068970812 E LYNDON TEFFT EXECUTIVE VP & TREASURER 2035635000 2016-05-04 true LAURA J PARELLO P01080295 6464713000 2014 2016-08-17 19:52:53Z CATHERINE KEATING 15 OLD DANBURY ROAD PO BOX WILTON CT 068970812 2364527679 false X www.commonfund.org X 1955 NY TO ENHANCE THE FINANCIAL RESOURCES OF EDUCATIONAL ORGANIZATIONS (DEFINED UNDER SECTION 170(B)(1)(A)(II) & (IV) OF THE IRC)& TO HELP THEM IMPROVE INVESTMENT MANAGEMENT PRACTICES 10 9 79 0 645 0 0 12721349 12388234 339842629 305394148 14202119 16141458 366766097 333923840 0 0 0 0 13535117 18878579 0 0 0 18365264 17838392 31900381 36716971 334865716 297206869 4877106208 4726634912 223668380 186572320 4653437828 4540062592 X SEE SCHEDULE O false false 36716971 333923840 THE COMMON FUND FOR NON-PROFIT ORGANIZATIONS ("COMMONFUND") IS A NON-PROFIT CORPORATION, EXEMPT UNDER IRC SECTION 501(F), FORMED TO ENABLE COLLEGES, UNIVERSITIES AND INDEPENDENT SCHOOLS TO JOIN TOGETHER IN OBTAINING PROFESSIONAL MANAGEMENT OF THEIR ENDOWMENTS AND LONG-TERM INVESTMENT FUNDS. PURSUANT TO IRC SECTION 501(F), COMMONFUND IS ORGANIZED AND OPERATED SOLELY TO HOLD, COMMINGLE, AND COLLECTIVELY INVEST AND REINVEST IN STOCKS AND SECURITIES, THE MONEY CONTRIBUTED BY ITS MEMBER SCHOOLS, AND TO COLLECT INCOME THEREFROM AND TURN OVER THE ENTIRE AMOUNT THEREOF, LESS EXPENSES, TO ITS MEMBER SCHOOLS. 36716971 true false false true false false false false false false true true false false true true false true false false true false false false false false false false false true false false false false false false false true false false false false true true true true false false true X 125 0 79 true true true false false false false false false false false false X 10 9 false false false false true true true true true false false true true true true true true true true false NY X LYNDON TEFFT 2035635085 15 OLD DANBURY ROAD PO BOX 812 WILTON CT 068970812 MICHAEL J WARREN TRUSTEE 3.0 0.0 X 75000 0 0 ELIZABETH HUIDEKOPER TRUSTEE 3.0 0.0 X 75000 0 0 LESLIE E BAINS TRUSTEE 3.0 0.0 X 90000 0 0 DR DAVID M BARRETT TRUSTEE 3.0 0.0 X 75000 0 0 WILLIAM E TRUEHEART TRUSTEE 3.0 0.0 X 85000 0 0 BRUCE ZIMMERMAN TRUSTEE 3.0 0.0 X 75000 0 0 KEITH SCHAPPERT TRUSTEE 3.0 0.0 X 75000 0 0 ROBERT LITTERMAN TRUSTEE 3.0 0.0 X 108750 0 0 DOUGLAS T BREEDEN TRUSTEE 3.0 0.0 X 90000 0 0 VERNE O SEDLACEK PRESIDENT & CHIEF EXECUTIVE 40.0 0.0 X X 748253 0 47365 CATHERINE M KEATING PRESIDENT & CHIEF EXECUTIVE 40.0 0.0 X X 0 0 0 LYNDON E TEFFT EXECUTIVE VP & TREASURER 40.0 0.0 X 645746 0 42866 JOHN W AUCHINCLOSS SECRETARY & GENERAL COUNSEL 40.0 0.0 X 328943 0 47170 DAVID BELMONT CHIEF RISK MANAGEMENT OFFICER 40.0 0.0 X 926749 0 47365 GAIL BURLANT CHIEF HUMAN RESOURCES OFFICER 40.0 0.0 X 561005 0 47351 ROBERT PHAY ASSOCIATE GENERAL COUNSEL 40.0 0.0 X 505424 0 47143 ALYSSA KRAFT MANAGING DIRECTOR 40.0 0.0 X 338665 0 47037 JOHN S GRISWOLD EXECUTIVE DIRECTOR 40.0 0.0 X 354594 0 47010 ANTHONY IALEGGIO CHIEF MARKETING OFFICER 40.0 0.0 X 369735 0 22154 PETER KIRBY MANAGING DIRECTOR 40.0 0.0 X 97989 264587 47366 BRADFORD K GALLAGHER TRUSTEE 3.0 0.0 X 18750 0 0 KEITH LUKE FORMER CHIEF STRAT. PLANNING 0.0 40.0 X 0 574753 47365 5644603 839340 490192 42 true true false STATE STREET BANK TRUST COMPANY PO BOX 5488 BOSTON MA 02206 CUSTODIAN FEES 1924407 MARSH USA INC PO BOX 846015 DALLAS TX 752846015 INSURANCE BROKER 1258702 INVESTCLOUD INC 1115 GUNN HIGHWAY SUITE 202 ODESSA FL 33556 IT DEVELOPMENT 1199986 DIPLOMAT PROPERTIES LLP 3555 S OCEAN DRIVE HOLLYWOOD FL 33019 CONFERENCES 865972 PRICEWATERHOUSECOOPERS LLP PO BOX 7247-8001 PHILADELPHIA PA 191708001 ACCOUNTING SERVICES 724606 46 0 PARTICIPANT FEES 900099 12388234 12388234 12388234 26509668 26509023 645 0 0 0 0 0 2309488319 2030603839 278884480 278884480 278884480 0 0 0 TRANSFER PRICING REVENUE 900099 16136994 16136994 MISCELLANEOUS REVENUE 900099 4464 4464 16141458 333923840 333923195 645 0 0 0 0 6316138 6316138 0 10137667 10137667 670677 670677 1055066 1055066 699031 699031 993102 993102 695739 695739 362027 362027 0 0 6794621 6794621 736426 736426 1080544 1080544 1175860 1175860 1466409 1466409 0 875056 875056 844828 844828 0 2031801 2031801 0 0 340198 340198 216260 216260 MISCELLANEOUS EXPENSES 225521 225521 0 0 36716971 36716971 0 0 0 0 138137343 93047827 0 0 191976443 121625270 0 0 0 0 0 0 0 0 1348150 1746705 2105960 1052420 947461 1053540 0 0 4534209389 4497660888 0 0 0 0 10487422 11500682 4877106208 4726634912 222988762 186478304 0 0 0 0 0 0 0 0 0 0 0 0 0 0 679618 94016 223668380 186572320 X 0 0 0 0 0 0 4653437828 4540062592 4877106208 4726634912 X 297206869 -182346424 -228235681 X X false true X true X X 417 SEE SCHEDULE A - SUPPLEMENTAL INFORMATION 999999999 2 false 0 0 SEE SCHEDULE A - SUPPLEMENTAL INFORMATION 999999999 5 false 0 0 2 false false false true true false true true true false false false false false false false false false false true false SCHEDULE A, SUPPORTING ORGANIZATIONS TYPE OF SUPPORT THE COMMON FUND FOR NON-PROFIT ORGANIZATIONS ("COMMONFUND") IS A NON-PROFIT CORPORATION, EXEMPT UNDER THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "IRC") SECTION 501(F), FORMED TO ENABLE COLLEGES, UNIVERSITIES AND INDEPENDENT SCHOOLS TO JOIN TOGETHER IN OBTAINING PROFESSIONAL MANAGEMENT OF THEIR ENDOWMENTS AND LONG-TERM INVESTMENT FUNDS. PURSUANT TO THE IRC SECTION 501(F), COMMONFUND IS ORGANIZED AND OPERATED SOLELY TO HOLD, COMMINGLE, AND COLLECTIVELY INVEST AND REINVEST IN STOCKS AND SECURITIES, THE MONEY CONTRIBUTED BY ITS MEMBER SCHOOLS, AND TO COLLECT INCOME THEREFROM AND TURN OVER THE ENTIRE AMOUNT THEREOF, LESS EXPENSES, TO ITS MEMBER SCHOOLS. SCHEDULE A, SUPPORTED ORGANIZATIONS MEMBER INSTITUTIONS AS OF JUNE 30, 2015 Abraham Joshua Heschel School; Aidan Montessori School; All Souls School; American Community School of Beirut, Lebanon; American University in Bulgaria; Andrews University; Arbor Montessori School; Arcadia University; Augsburg College; Austin Peay State University; Austin Peay State University Foundation; Azusa Pacific University; Bakersfield College Foundation; Baldwin-Wallace University; Bethel College; Biblical Theological Seminary; Bishop Dunne Catholic School Inc.; Bishop Lynch High School; BLACKBURN COLLEGE; Bloomsburg University; Bradley University; Bridgton Academy; Bristol Community College; Broome Community College Foundation, Inc.; Brophy College Preparatory; Burgundy Farm Country Day School; C.S.U., Chico Research Foundation; C.S.U., Fresno Association; CALIFORNIA BAPTIST UNIVERSITY; Calvin Christian School of Escondido; Capitol College; Cardigan Mountain School; Cathedral High School; Cazenovia College; Central College; Central Michigan University; Central Oregon Community College Fdn.; Central Texas College Foundation; Charles Wright Academy; Cheverus High School; Children's Day School, Inc.; Clarion University Foundation, Inc.; Clark State Community College Foundation; Clarkson University; Clinton Community College Fdn., Inc.; Coe College; College of Saint Benedict; College of St. Joseph; COLLEGE OF THE MAINLAND FOUNDATION; Collegiate School; Colorado School of Mines Foundation; Columbus School for Girls; Community College of Philadelphia; Community Day Nursery; Community Music Center, San Francisco; Concord Hill School; Concordia College; Connecticut State University System Foundation Inc; County College of Morris Foundation; Cranbrook Educational Community; Cuesta College Foundation; CUNY, York College; Currey Ingram Academy; DBA Catholic Memorial School; De La Salle Academy; De La Salle Institute; Delaware Valley Friends School; Denver Seminary; DOCTOR FRANKLIN PERKINS SCHOOL; Don Bosco Technical Institute; Dordt College; Dublin School, Inc.; Duke School; Eastern Michigan University Foundation; Eastern Washington University; Edinboro University Foundation; Elmhurst College; Embry Riddle Aeronautical University; Episcopal School; Fairfield University; Fairleigh Dickinson University; Falmouth Academy; Fdn for the University of the Virgin Islands, Inc.; Ferris State University; Ferrum College; First Presbyterian Nursery School of New Canaan; Flagler College, Inc.; Florida State College Foundation, Inc.; Fordham University; Fountain Valley School; Framingham State University; Franciscan University of Steubenville; Friends Academy; Friends' Central School Corp. PA; Friends' School, Inc.; Furman University; George Jackson Academy; Georgetown Day School; Germantown Friends School; Glendale College Foundation, Inc.; Golden Gate Baptist Theological Seminary; Golden Gate Kindergarten Association; Good Shepherd Episcopal School; Graduate Theological Union; Great Basin College Foundation; Green Acres School; Greenwich Country Day School; Grove City College; Gulf Coast STATE College Foundation; Gulf Stream School; Hampton University; Harding Academy; Hartwick College; Highland Community College Foundation, IL; Holmes Community College; Holy Names University; Holy Trinity Episcopal Day School; Holyoke Community College; Honolulu Waldorf School; Huntington University; Husson University; Illinois Central College Educational Foundation; Illinois State University Foundation; Immaculate Conception Academy; Indiana University of Pennsylvania; INSTITUTE FOR AMERICAN UNIVERSITIES; Inter American University of Puerto Rico; Iona College; Itawamba Community College; J. Higdon Potter Educational Foundation; JCTC Foundation, Inc.; Jesuit High School of New Orleans; Johnson University; Kalamazoo College; Kansas City Art Institute; KCTCS, Com & Tech College Fnd of Ashland,Inc.; KCTCS, Hopkinsville Community College Fdn,Inc.; KCTCS, Kentucky Comm. & Tech. College Sys. Fdn.; KCTCS, Kentucky Comm. & Tech. College System; KCTCS, Owensboro Comm. & Tech. College Fdn., Inc.; KCTCS, Paducah Junior College Inc; Keene School District; Kents Hill School; Kentucky Christian University; Keystone School; Kuyper College; La Pietra - Hawaii School for Girls; Laboure College; Laguna College of Art & Design; Lake Country School - Montessori; Lamar University - Beaumont; Lamplighter School; Lane Community College Foundation; Lawrence Technological University; Lawrence University; Lee College Foundation; Lincoln University; Linn-Benton Community College Foundation; Logos Evangelical Seminary Foundation, Inc.; Loma Linda University; Louisville Collegiate School; LOWELL WHITEMAN SCHOOL; Loyola College Prep; Lubbock Christian University; Luther Seminary; Lynchburg College; Mansfield University Foundation; Mansfield University of PA; Marshall University; Mary Baldwin College; Marymount High School; MARYVALE PREPARATORY SCHOOL; Massachusetts School of Law; Massasoit Community College; McLennan Community College Foundation; McMurry University; McPherson College; Medical College of Virginia Foundation, Inc.; Mercersburg Academy; Meridian Community College Foundation; Methodist Theological School; Miami University; Miami University Foundation; Millersville University of PA; Minneapolis College of Art and Design; Missionary Baptist Seminary; Missouri State University Foundation; Monmouth University; Montana Tech Foundation; Monterey College of Law; Morningside Montessori School; Morristown-Beard School; Mount Allison University; Mount Aloysius College; Mount Marty College, Incorporated; Mount Wachusett Community College Fdn., Inc.; Muhlenberg College; MULTHNOMAH UNIVERSITY; Nardin Academy; NC State Natural Resources Foundation, Inc.; NC State University College of Sciences Fdn, Inc.; NC State University Foundation; NC State University, Agriculture; NC State University, Engineering Foundation; NC State University, Tobacco Foundation; NC State University, Veterinary Medicine Fdn.; New River Community College; New York Medical College; Norfolk State University Foundation; North Arkansas College Foundation Inc.; North Central Missouri College; North Central Missouri College Foundation, Inc.; North Dakota State University Development Fdn.; North Idaho College Foundation; North Shore Community College Foundation, Inc.; Northampton County Area Community College Fdn.; Northeast State Community College Foundation; Northeastern State University Foundation, Inc.; Northern Illinois University Foundation; Northern Oklahoma College Foundation; Northern State University Foundation; Northern Virginia Community College Ed. Fdn; Northwest Village School; Northwestern College; Northwestern State University Foundation; Northwood University; Norwich University; Notre Dame De Namur University; Notre Dame Preparatory School; Oak Hill School; Oakland University; Oakwood School, CA; Oakwood Stewardship, LLC.; Oakwood University; Ojai Valley School; Oklahoma Baptist University; Oklahoma Christian University, Inc.; Oklahoma Medical Research Foundation; Oklahoma State Regents for Higher Education; Old Dominion University; Old Dominion University Research Foundation; Oldfields School, Inc.; Oswego College Foundation Inc; Otterbein University; Ouachita Baptist University; Our Sisters' School Inc.; Pacific Primary School; Palmer Trinity Private School, Inc.; PAUL PUBLIC CHARTER SCHOOL, INC.; Pellissippi State Community College Fdn.; Piney Woods Country Life School; Point Loma Nazarene University; Polytechnic University of Puerto Rico; Poughkeepsie Day School; Pratt Institute; Prescott College; Princeton University; Providence Day School; Purnell School; Putnam Indian Field School; Rehoboth Christian School; Rider University; Rio Grande School; Riverview School; Rivier University; Robert Morris University Illinois; Rochester Institute of Technology; Rockford University; Rockland Community College Association; Rohan Woods School; Rose State College Foundation; Rowland Hall-St. Mark's School; Rust College; Rutgers, The State University of New Jersey; SAINT ANDREW'S SCHOOL OF BOCA RATON, INC.; Saint Bernard High School; Saint John's University; Saint Louis Community College Foundation; Salem Community College Foundation; Salpointe Catholic High School; San Antonio Academy of Texas; San Diego State University Fdn.; Santa Clara University; Sarah Lawrence College; Sauk Valley College Foundation; School Year Abroad, Inc.; Sea Education Association, Inc.; Shippensburg University Foundation; Siena Heights University; SINAI AKIBA ACADEMY; Slippery Rock University Alumni Assn.; Solomon Schechter School of Westchester; Southeastern University, Inc.; Southern California University of Health Sciences; Southern Connecticut State University Foundation; Southern Methodist University; Southern Nazarene University; Southern Vermont College; SOUTHERN WESLEYAN UNIVERSITY; Southwest VA Community College Educational Fdn,Inc; Southwestern University; Spartanburg Methodist College; Sp SCHEDULE A, PART IV, LINE 1 ARE MEMBERS LISTED BY NAME IN THE ORGANIZATION'S GOVERNING DOCUMENTS THE MEMBERS OF COMMONFUND ARE NOT LISTED BY NAME IN THE ORGANIZATION'S GOVERNING DOCUMENTS. RATHER, MEMBERSHIP IS LIMITED TO EDUCATIONAL INSTITUTIONS DESCRIBED IN SECTION 170(B)(1)(A)(II) OF THE CODE AND EDUCATIONAL SUPPORT ORGANIZATIONS DESCRIBED IN SECTION 170(B)(1)(A)(IV) OF THE CODE, WHO BECOME MEMBERS OF COMMONFUND IF AND WHEN THEY INVEST IN COMMONFUND FUNDS. SCHEDULE A, PART IV, SECTION A, LINE 4B DID THE ORGANIZATION HAVE ULTIMATE CONTROL AND DISCRETION IN GRANTS TO FOREIGN SUPPORTED ORGANIZATIONS ALTHOUGH COMMONFUND HAS ULTIMATE CONTROL AND DISCRETION IN DECIDING WHETHER TO MAKE GRANTS TO FOREIGN SUPPORTED ORGANIZATIONS, IT DID NOT MAKE ANY GRANTS TO ANY FOREIGN SUPPORTED ORGANIZATIONS. SCHEDULE A, PART IV, SECTION A, LINES 5A, 5B AND 5C DID THE ORGANIZATION ADD, SUBSTITUTE OR REMOVE ANY SUPPORTED ORGANIZATIONS; WAS ANY ADDED OR SUBSTITUTED ORGANIZATION PART OF A CLASS ALREADY DESIGNATED; AND WAS THE SUBSTITUTION THE RESULT OF AN EVENT BEYOND THE ORGANIZATION'S CONTROL AS NOTED ABOVE, MEMBERSHIP IN COMMONFUND IS LIMITED TO EDUCATIONAL INSTITUTIONS DESCRIBED IN SECTION 170(B)(1)(A)(II) OF THE CODE AND EDUCATIONAL SUPPORT ORGANIZATIONS DESCRIBED IN SECTION 170(B)(1)(A)(IV) OF THE CODE, WHO BECOME MEMBERS OF COMMONFUND IF AND WHEN THEY INVEST IN COMMONFUND FUNDS. AS A MEMBER'S OR POTENTIAL MEMBER'S DECISION WHETHER TO INVEST IN FUNDS CURRENTLY BEING OFFERED BY COMMONFUND IS NOT A DECISION THAT IS MADE BY COMMONFUND, COMMONFUND DOES NOT ADD, SUBSTITUTE OR REMOVE SUPPORTED ORGANIZATIONS. ALTHOUGH MEMBERS ARE ENTITLED TO VOTE ON MATTERS PROPERLY BROUGHT BEFORE THEM AND EACH MEMBER IS ENTITLED TO ONE VOTE REGARDLESS OF THE AMOUNT INVESTED, MEMBERS DO NOT HOLD SHARES OR CLASSES OF SHARES IN THE COMMONFUND. 36716971 36716971 1000000 250000 1000000 1000000 1000000 1000000 4000000 6000000 0 0 0 0 0 250000 250000 250000 250000 1000000 1500000 0 0 0 0 0 SCHEDULE C, PART II-A LOBBYING ACTIVITIES THE COMMON FUND FOR NONPROFIT ORGANIZATIONS ("COMMONFUND") CONTINUES TO MAINTAIN ITS ELECTION UNDER SECTION 501(H) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED. DURING THE TAX YEAR ENDED JUNE 30, 2015, COMMONFUND DID NOT ATTEMPT TO INFLUENCE NATIONAL, STATE,OR LOCAL LEGISLATION INCLUDING ANY ATTEMPT TO INFLUENCE PUBLIC OPINION ON A LEGISLATIVE MATTER OR REFERENDUM. COMMONFUND DID NOT INCUR ANY EXPENSES IN CONNECTION WITH LOBBYING ACTIVITIES. 819553 426985 392568 1286407 625435 660972 1053540 INVESTMENTS AT VALUE 4497660888 F 4497660888 0 OPEN OPTIONS CONTRACTS 94016 94016 X 108622437 -182346424 142218449 -40127975 148750412 185173428 185173428 333923840 114936808 84507304 84507304 30429504 6287467 6287467 36716971 SCHEDULE D, PART X, LINE 2 FIN 48 DISCLOSURE THE COMMON FUND FOR NONPROFIT ORGANIZATIONS ("COMMONFUND") IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTIONS 501(C)(3) AND 501(F) OF THE INTERNAL REVENUE CODE, AS AMENDED (THE "IRC"). CERTAIN COMMONFUND SUBSIDIARIES ARE SUBJECT TO FEDERAL, STATE AND LOCAL INCOME TAXES. INCOME TAXES FOR THOSE SUBSIDIARIES ARE RECORDED UNDER THE PROVISIONS OF FASB ASC TOPIC 740, INCOME TAXES. THE GUIDANCE ON ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS PROVIDES THAT A TAX BENEFIT FROM AN UNCERTAIN POSITION MAY BE RECOGNIZED WHEN IT IS MORE-LIKELY-THAN-NOT THAT THE POSITION WILL BE SUSTAINED UPON EXAMINATION, INCLUDING RESOLUTIONS OF ANY RELATED APPEALS OR LITIGATION PROCESSES, BASED ON TECHNICAL MERITS OF THE POSITION. INCOME TAX POSITIONS MUST MEET A MORE-LIKELY-THAN-NOT RECOGNITION THRESHOLD AT THE EFFECTIVE DATE TO BE RECOGNIZED UPON THE ADOPTION IN SUBSEQUENT PERIODS. THIS INTERPRETATION ALSO PROVIDES GUIDANCE ON MEASUREMENT, DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, ACCOUNTING FOR INTERIM PERIODS, DISCLOSURE AND TRANSITION. COMMONFUND'S POLICY IS TO ACCRUE INTEREST AND PENALTIES ASSOCIATED WITH UNRECOGNIZED TAX BENEFITS AS OTHER EXPENSES IN THE CONSOLIDATED STATEMENTS OF ACTIVITIES AND CHANGES IN NET ASSETS, AND THE CORRESPONDING LIABILITY IN ACCOUNTS PAYABLE AND ACCRUED EXPENSES, IN THE CONSOLIDATED STATEMENTS OF FINANCIAL POSITION. SCHEDULE D, PART XI, LINE 2D OTHER AMOUNTS INCLUDED ON LINE 1 BUT NOT ON FORM 990, PART VIII, LINE 12 RELATED ORGS AND SUBSIDIARIES 81,435,195 ENDOWMENT FUND CROSSFUND INCOME 60,783,254 =============== TOTAL 142,218,449 SCHEDULE D, PART XI, LINE 4B OTHER AMOUNT INCLUDED ON FORM 990, PART VIII, LINE 12 BUT NOT ON LINE 1 ENDOWMENT FUND INCOME 185,173,428 SCHEDULE D, PART XII, LINE 2D OTHR AMOUNT INCLUDED IN LINE 1 BUT NOT ON FORM 990, PART IX, LINE 25 RELATED ORGANIZATIONS AND SUBSIDIARIES EXPENSES 84,507,304 SCHEDULE D, PART XII, LINE 4B OTHER AMOUNT INCLUDED ON FORM 990, PART IX, LINE 25 BUT NOT ON LINE 1 ENDOWMENT FUND EXPENSES 6,287,467 Central America and the Caribbean Investments 1094738000 East Asia and the Pacific Investments 17179000 Europe (Including Iceland and Greenland) Investments 38868000 North America Investments 23272000 South America Investments 2836000 South Asia Investments 197000 Sub-Saharan Africa Investments 742000 1177832000 1177832000 true false true true true false X X X X false false false false false false false false false BRADFORD K GALLAGHER TRUSTEE 18750 0 0 0 0 0 0 0 0 0 18750 0 0 0 VERNE O SEDLACEK PRESIDENT & CHIEF EXECUTIVE 598253 0 150000 0 0 0 20800 0 26565 0 795618 0 0 0 LYNDON E TEFFT EXECUTIVE VP & TREASURER 347746 0 298000 0 0 0 20800 0 22066 0 688612 0 0 0 JOHN W AUCHINCLOSS SECRETARY & GENERAL COUNSEL 253943 0 75000 0 0 0 20800 0 26370 0 376113 0 0 0 DAVID BELMONT CHIEF RISK MANAGEMENT OFFICER 392999 0 533750 0 0 0 20800 0 26565 0 974114 0 0 0 ROBERT PHAY ASSOCIATE GENERAL COUNSEL 244774 0 260650 0 0 0 20800 0 26343 0 552567 0 0 0 ALYSSA KRAFT MANAGING DIRECTOR 202665 0 136000 0 0 0 20800 0 26237 0 385702 0 0 0 JOHN S GRISWOLD EXECUTIVE DIRECTOR 198794 0 155800 0 0 0 20800 0 26210 0 401604 0 0 0 ANTHONY IALEGGIO CHIEF MARKETING OFFICER 247235 0 122500 0 0 0 0 0 22154 0 391889 0 0 0 PETER KIRBY MANAGING DIRECTOR 97989 110587 0 154000 0 0 8000 12800 13283 13283 119272 290670 0 0 GAIL BURLANT CHIEF HUMAN RESOURCES OFFICER 327803 0 233202 0 0 0 20800 0 26551 0 608356 0 0 0 KEITH LUKE FORMER CHIEF STRAT. PLANNING 0 294753 0 280000 0 0 0 20800 0 26565 0 622118 0 0 SCHEDULE J, PART I COMPENSATION PROGRAM THE COMMON FUND FOR NONPROFIT ORGANIZATIONS' COMPENSATION PROGRAM CONSISTS OF FOUR PARTS: (1) SALARIES, (2) ANNUAL CASH BONUSES, (3) INCENTIVE COMPENSATION AND (4) HEALTH, RETIREMENT AND OTHER BENEFITS. ALL EMPLOYEES ARE ELIGIBLE FOR AN ANNUAL CASH BONUS THAT IS BASED ON ACHIEVING SPECIFIC PERFORMANCE AND OPERATIONAL GOALS DURING THE YEAR. IN ADDITION, CERTAIN EXECUTIVES PARTICIPATE IN THE INCENTIVE COMPENSATION PLANS THAT ARE DESIGNED TO REWARD PERFORMANCE ACROSS MULTIPLE-YEAR PERIODS. SUCH AWARDS WHEN EARNED AND PAID ARE INCLUDED IN REPORTABLE COMPENSATION. COMMONFUND HOLDING CO SUBSIDIARI COMMON OFFICER SEE PART V true SCHEDULE L, PART IV, BUSINESS TRANSACTIONS WITH INTERESTED PERSONS TRANSFER PRICING AGREEMENT THE COMMON FUND FOR NONPROFIT ORGANIZATIONS ("COMMONFUND") IS A NONPROFIT MEMBERSHIP CORPORATION ORGANIZED UNDER THE LAWS OF THE STATE OF NEW YORK. COMMONFUND HAS AFFILIATIONS WITH COMMONFUND HOLDING COMPANY, INC. AND SUBSIDIARIES (COMMONFUND AND COMMONFUND HOLDINGS COMPANY, INC. AND SUBSIDIARIES COLLECTIVELY "COMMONFUND GROUP"). COMMONFUND GROUP HAS A MASTER INTERCOMPANY AGREEMENT THAT PROVIDES FOR INVESTMENT ADVISORY AND DISTRIBUTION SERVICE ARRANGEMENTS AMONGST THE GROUP AND FACILITIES SHARING AND SUPPORT SERVICES BY COMMONFUND. THE INTERCOMPANY AGREEMENT ALSO PROVIDES FOR THE ARM'S LENGTH CHARGE FOR THE ALLOCATION OF REVENUE AND COST (PURSUANT TO SECTION 482 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED AND REGULATIONS THEREUNDER) AMONG THE COMPANIES IN THE COMMONFUND GROUP. FORM 990, PART III, LINE 1 MISSION STATEMENT TO ENHANCE THE FINANCIAL RESOURCES OF EDUCATIONAL ORGANIZATIONS (DEFINED UNDER SECTION 170(B)(1)(A)(II) AND (IV) OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "IRC")) AND TO HELP THEM IMPROVE INVESTMENT MANAGEMENT PRACTICES. COMMONFUND PURSUES ITS MISSION THROUGH THE DELIVERY OF (1) INVESTMENT PROGRAMS DESIGNED TO GENERATE LONG-TERM SUPERIOR INVESTMENT PERFORMANCE; (2) INSIGHT AND EDUCATIONAL PROGRAMS THAT PROMOTE THE SHARING OF BEST PRACTICES FOR NONPROFITS; AND (3) SERVICE BASED ON AN IN-DEPTH UNDERSTANDING OF CLIENT NEEDS. COMMONFUND BELIEVES THAT STRONG FINANCIAL RESOURCES WILL SERVE AS THE UNDERPINNING THAT ENABLES IT TO IMPLEMENT ITS MISSION. FORM 990, PART VI, LINE 1A AND 1B INDEPENDENT VOTING MEMBERS OF GOVERNING BODY NO MEMBERS OF THE BOARD OF TRUSTEES OF COMMONFUND OTHER THAN THE PRESIDENT - WHO IS A MEMBER OF THE BOARD EX OFFICIO - ARE MEMBERS OF MANAGEMENT AND ALL MEMBERS OF THE BOARD ARE NOMINATED BY THE BOARD'S GOVERNANCE COMMITTEE, WHICH DOES NOT INCLUDE ANY MEMBERS OF MANAGEMENT. THE PRESIDENT IS A VOTING MEMBER OF THE BOARD, BUT IS NOT PERMITTED TO SERVE ON THE BOARD'S AUDIT & RISK MANAGEMENT COMMITTEE, THE GOVERNANCE COMMITTEE, OR THE COMPENSATION COMMITTEE (ALTHOUGH THE PRESIDENT IS CONSULTED ON COMPENSATION MATTERS FOR OTHER ADMINISTRATIVE OFFICERS AND SUCH ADDITIONAL SENIOR EXECUTIVES AS THE COMPENSATION COMMITTEE DEEMS APPROPRIATE). IT HAS HISTORICALLY BEEN THE CASE THAT NO MEMBER OF COMMONFUND GROUP'S MANAGEMENT (OTHER THAN THE PRESIDENT) HAS SERVED AS A TRUSTEE WHILE SO EMPLOYED. IT IS ALSO THE BOARD'S POLICY THAT NO MEMBER OF MANAGEMENT SERVES ON ANY OF ITS COMMITTEES, OTHER THAN THE PRESIDENT IN HIS OR HER ROLE AS A MEMBER OF THE EXECUTIVE COMMITTEE. THE GOVERNANCE COMMITTEE ESTABLISHES STANDARDS OF INDEPENDENCE THAT PREVENT TRUSTEES FROM SERVING ON THE AUDIT AND RISK MANAGEMENT COMMITTEE IF THEY HAVE ANY MATERIAL RELATIONSHIP WITH COMMONFUND AND ITS OPERATING SUBSIDIARIES AND AFFILIATES (TOGETHER WITH COMMONFUND, THE "COMMONFUND GROUP"); THE EXECUTIVE COMMITTEE ESTABLISHES SUCH STANDARDS FOR THE GOVERNANCE COMMITTEE. FORM 990, PART VI, LINE 6 AND LINE 7A ELECTION OF THE GOVERNING BODY COMMONFUND IS GOVERNED BY A BOARD OF TRUSTEES, WHOSE MEMBERS ARE ELECTED BY COMMONFUND'S MEMBER EDUCATIONAL INSTITUTIONS (ONE MEMBER, ONE VOTE) AT COMMONFUND'S ANNUAL MEETING (GENERALLY HELD IN DECEMBER OF EACH CALENDAR YEAR). NOMINATIONS OF CANDIDATES TO BE ELECTED AS MEMBERS OF COMMONFUND'S BOARD OF TRUSTEES ARE MADE BY THE BOARD'S GOVERNANCE COMMITTEE. MEMBERS OF THE GOVERNANCE COMMITTEE ARE INDEPENDENT OF MANAGEMENT, AND NO TRUSTEE MAY SERVE ON THE GOVERNANCE COMMITTEE FOR MORE THAN FOUR CONSECUTIVE YEARS WITHOUT INTERRUPTION OF AT LEAST ONE YEAR. WHILE IT IS THE DUTY OF THE GOVERNANCE COMMITTEE TO NOMINATE TRUSTEE CANDIDATES, THE COMMITTEE HAS DETERMINED, CONSISTENT WITH CURRENT BEST PRACTICE IN THE NONPROFIT SECTOR, THAT IT SHOULD ENGAGE AN INDEPENDENT SEARCH FIRM TO ASSIST IT IN IDENTIFYING CANDIDATES IN ORDER TO ENSURE THAT IT CONSIDERS QUALIFIED CANDIDATES BEYOND THE CIRCLE OF INDIVIDUALS ALREADY KNOWN TO THE COMMITTEE MEMBERS OR TO COMMONFUND MANAGEMENT. FORM 990, PART VI, SECTION A, LINE 7B GOVERNANCE DECISIONS RESERVED TO (OR SUBJECT TO APPROVAL BY) MEMBERS MEMBERS OF COMMONFUND MEET ANNUALLY IN THE FALL. PROPOSED RULE CHANGES OF RULES OF THE COMMONFUND ENDOWMENT FUNDS AND OTHER MATTERS REQUIRING CONSENT OF THE MEMBERS (I.E., THE ELECTION OF TRUSTEES AND THE RATIFICATION OF THE SELECTION OF COMMONFUND'S CERTIFIED PUBLIC ACCOUNTANTS) ARE PLACED BEFORE THE MEMBERS AT THE ANNUAL MEETING. THE MEMBERS ALSO RESERVE THE RIGHT TO REMOVE A TRUSTEE WITH OR WITHOUT CAUSE. FORM 990, PART VI, LINE 11A AND 11B REVIEW PROCESS FORM 990 THE COMMONFUND FORM 990 IS DRAFTED BY COMMONFUND'S MANAGEMENT AND REVIEWED BY COMMONFUND'S INDEPENDENT CERTIFIED PUBLIC ACCOUNTANT AND TAX CONSULTANT. A DRAFT OF THE FORM 990 IS FURNISHED TO ALL MEMBERS OF THE BOARD, WHO DELEGATE THE DUTY TO REVIEW THE FORM AND ADDRESS ANY QUESTIONS TO MANAGEMENT TO THE AUDIT AND RISK MANAGEMENT COMMITTEE OF THE BOARD AND, IN THE CASE OF PART VI, TO THE GOVERNANCE COMMITTEE OF THE BOARD. THESE COMMITTEES REPORT THE RESULTS OF THEIR REVIEW TO THE FULL BOARD. BETWEEN THE TIME OF COMMITTEE AND BOARD REVIEW AND THE ACTUAL FILING OF THE FORM 990, MANAGEMENT RETAINS THE ABILITY TO AMEND THE VERSION OR VERSIONS SO REVIEWED, PROVIDED THAT SUCH AMENDMENTS ARE APPROVED BY COUNSEL AND BY COMMONFUND'S EXTERNAL TAX CONSULTANTS, AS WELL AS BY THE CHIEF OPERATING OFFICER. MANAGEMENT IS REQUIRED TO DISCUSS WITH THE CHAIRS OF THE AUDIT AND RISK MANAGEMENT COMMITTEE AND/OR THE GOVERNANCE COMMITTEE ANY PROPOSED CHANGES THAT WOULD MATERIALLY CHANGE THE CONTENT OF THE FORM 990 IN ORDER TO DETERMINE WHETHER ANY FURTHER REVIEW BY THE AUDIT AND RISK MANAGEMENT COMMITTEE, THE GOVERNANCE COMMITTEE, OR THE FULL BOARD WOULD BE APPROPRIATE PRIOR TO FILING. PRIOR TO FILING, THE FINAL FORM 990, INCLUDING ATTACHMENTS, WILL BE MADE AVAILABLE TO ALL TRUSTEES FOR THEIR REFERENCE. FORM 990, PART VI, LINE 12A, 12B AND 12C CONFLICT OF INTEREST POLICY TRUSTEES, OFFICERS AND EMPLOYEES OF COMMONFUND GROUP ARE SUBJECT TO POLICIES ADOPTED BY THE ORGANIZATION AND APPROVED BY COMMONFUND'S BOARD OF TRUSTEES THAT ARE DESIGNED TO AVOID IMPROPER CONFLICTS OF INTEREST. COMMONFUND'S AUTHORIZING LEGISLATION PROVIDES THAT NO TRUSTEE, OFFICER OR EMPLOYEE SHALL RECEIVE ANY DIRECT OR INDIRECT PECUNIARY PROFIT FROM, NOR HAVE ANY DIRECT OR INDIRECT PECUNIARY INTEREST IN, THE OPERATIONS OF COMMONFUND OR ANY FUND ESTABLISHED THEREIN, OTHER THAN SALARY OR COMPENSATION FOR SERVICES RENDERED, REIMBURSEMENT OF EXPENSES, BENEFITS RECEIVED AS A PROPER BENEFICIARY OF ITS STRICTLY EDUCATIONAL AND CHARITABLE PURPOSES. ADDITIONALLY, THESE POLICIES PROVIDE THAT NO AFFECTED PERSON SHALL, WITHOUT THE PRIOR CONSENT OF THE BOARD OF TRUSTEES, HAVE ANY RELATIONSHIP AS DIRECTOR, OFFICER, PARTNER, EMPLOYEE, ADVISORY BOARD MEMBER, OR SIMILAR RELATIONSHIP WITH, NOR HAVE ANY SUBSTANTIAL FINANCIAL INTEREST IN, ANY INVESTMENT MANAGER OR CUSTODIAN BANK OF COMMONFUND OR ANY SECURITIES BROKER/DEALER AFFECTING TRANSACTIONS FOR COMMONFUND. PURSUANT TO THESE POLICIES, OFFICIAL POSITIONS OR FINANCIAL INTERESTS THAT MAY CONFLICT OR APPEAR TO CONFLICT WITH THE INTERESTS OF COMMONFUND ARE DISCLOSED IN ANNUAL QUESTIONNAIRES COMPLETED BY EACH AFFECTED PERSON. RESPONSES TO THESE QUESTIONNAIRES ARE REVIEWED BY THE COMPLIANCE DEPARTMENT AND, IN APPROPRIATE CASES, PROCEDURES ARE ADOPTED SO THAT INDIVIDUALS AVOID PARTICIPATION IN COMMONFUND MATTERS. PERSONS COVERED BY THESE POLICIES ARE REQUIRED TO AFFIRM COMPLIANCE WITH THE CONFLICTS OF INTEREST POLICY ANNUALLY AND COMMONFUND'S COMPLIANCE GROUP ENGAGES IN INTERNAL AUDIT PROCEDURES DESIGNED TO TEST SUCH COMPLIANCE THROUGHOUT THE YEAR. FORM 990, PART VI, LINE 15 COMPENSATION POLICY THE PURPOSES OF THE COMPENSATION COMMITTEE ARE TO REVIEW AND PROVIDE ADVICE ON SIGNIFICANT PERSONNEL ISSUES. THIS FUNCTION INCLUDES RESPONSIBILITY: (A) TO REVIEW ANNUALLY THE PRESIDENT'S PERFORMANCE RELATIVE TO GOALS AND TO ESTABLISH HIS/HER COMPENSATION; (B) TO RECEIVE AND DISCUSS THE PRESIDENT'S EVALUATION OF THE MEMBERS OF THE SENIOR EXECUTIVE TEAM AND TO REVIEW AND APPROVE THE PRESIDENT'S PROPOSALS FOR THEIR COMPENSATION; (C) TO REVIEW AND APPROVE COMPENSATION PROGRAMS FOR ALL EMPLOYEES OF THE CORPORATION WITH A RANK OF MANAGING DIRECTOR AND ABOVE INCLUDING INCENTIVE PLANS, RETIREMENT PLANS AND OTHER BENEFIT ARRANGEMENTS; (D) TO REVIEW AND PROVIDE ADVICE CONCERNING THE SUCCESSION PLAN FOR EACH POSITION REPRESENTED ON THE SENIOR EXECUTIVE TEAM AND FOR OTHER POSITIONS IN THE CORPORATION THAT IT DESIGNATES; (E) TO REVIEW STAFFING ARRANGEMENTS FOR THE CORPORATION AND PROVIDE ADVICE WITH RESPECT TO THOSE ARRANGEMENTS; (F) TO CONSIDER AND ADVISE THE PRESIDENT WITH RESPECT TO TERMINATION FOR CAUSE OF EMPLOYEES WITH A RANK ABOVE THAT OF MANAGING DIRECTOR AND, WHEN CONSULTED BY THE PRESIDENT, ON OTHER TERMINATION MATTERS; (G) JOINTLY WITH THE GOVERNANCE COMMITTEE, TO RECOMMEND TO THE BOARD THE COMPENSATION TO BE PAID TO TRUSTEES, INCLUDING THE CHAIR OF THE BOARD; & (H) TO RECEIVE PERIODIC REPORTS FROM THE PRESIDENT ON SUCH PERSONNEL ISSUES AS IT MAY FROM TIME TO TIME IDENTIFY AS SIGNIFICANT AND WORTHY OF ITS CONSIDERATION. TO DISCHARGE THESE RESPONSIBILITIES, IT IS THE PRACTICE OF THE COMPENSATION COMMITTEE TO ENGAGE AN INDEPENDENT COMPENSATION CONSULTANT TO ASSIST IT IN ITS COMPENSATION-RELATED DUTIES AND TO PROVIDE COMPARABILITY DATA. THIS DATA, AND ISSUES RELATING TO PERFORMANCE BY MEMBERS OF SENIOR MANAGEMENT ARE REVIEWED ANNUALLY BY THE COMMITTEE. THE PRESIDENT PARTICIPATES IN THE DISCUSSION OF PERFORMANCE OF OTHER MEMBERS OF SENIOR MANAGEMENT. THE COMMITTEE MEETS IN EXECUTIVE SESSION OUTSIDE THE PRESENCE OF THE PRESIDENT AND OTHER MEMBERS OF MANAGEMENT TO DISCUSS THE PERFORMANCE OF THE PRESIDENT. MINUTES ARE KEPT OF THE DELIBERATIONS AND DECISIONS OF THE COMPENSATION COMMITTEE. THIS PROCESS WAS LAST UNDERTAKEN FOR THE FISCAL YEAR ENDING JUNE 30, 2015. THE NEXT COMPENSATION REVIEW WILL TAKE PLACE IN THE LATE SUMMER/EARLY FALL OF 2016. FORM 990, PART VI, LINE 19 PUBLIC INSPECTION OF ORGANIZATION DOCUMENTS COMMONFUND MAKES AVAILABLE TO THE PUBLIC ITS CONFLICT OF INTERESTS POLICY AND INFORMATION FOR MEMBERS, WHICH CONTAINS, AMONG OTHER INFORMATION, THE RULES OF COMMONFUND, WHICH GOVERN THE STATUS, OPERATION AND INVESTMENT PROGRAMS OF THE VARIOUS INVESTMENT FUNDS MAINTAINED BY COMMONFUND. THESE TWO DOCUMENTS CAN BE ACCESSED BY THE PUBLIC VIA COMMONFUND'S WEBSITE OR UPON REQUEST TO COMMONFUND. COMMONFUND'S FINANCIAL STATEMENTS ARE AVAILABLE TO MEMBERS OF COMMONFUND. COMMONFUND MAY PROVIDE TO THE PUBLIC COMMONFUND'S FINANCIAL STATEMENTS AND ORIGINAL APPLICATION FOR EXEMPTION UNDER IRC SECTION 501(C)(3) (GRANTED NOVEMBER 3, 1970), UPON REQUEST. FORM 990, PART XI, LINE 9 OTHER CHANGES IN NET ASSETS OR FUND BALANCES ENDOWMENT FUND CROSSFUND INCOME 60,783,254 DISTRIBUTIONS (ENDOWMENT FUNDS) (88,805,767) NET PARTICIPANT TRANSACTIONS (200,213,168) =============== TOTAL (228,235,681) FORM 990, PART XII, LINE 2B AND LINE 2C AUDITED FINANCIAL STATEMENTS THE COMMON FUND FOR NONPROFIT ORGANIZATIONS ("COMMONFUND") IS A TAX-EXEMPT MEMBERSHIP CORPORATION OPERATED BY AND FOR ITS MEMBER COLLEGES, UNIVERSITIES AND INDEPENDENT SCHOOLS. TOGETHER WITH ITS SUBSIDIARIES AND AFFILIATES, COMMONFUND PURSUES A MISSION TO IMPROVE INVESTMENT MANAGEMENT PRACTICES AND TO ENHANCE THE FINANCIAL RESOURCES OF THE NONPROFIT COMMUNITY. COMMONFUND WAS ORGANIZED IN 1969 PURSUANT TO A SPECIAL ACT OF THE NEW YORK STATE LEGISLATURE AND COMMENCED OPERATIONS ON JULY 1, 1971. COMMONFUND IS EXEMPT FROM REGISTRATION UNDER THE INVESTMENT COMPANY ACT OF 1940, AS AMENDED, AND THE INVESTMENT ADVISERS ACT OF 1940, AS AMENDED. COMMONFUND IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTIONS 501(C)(3) AND 501(F) OF THE IRC. PARTICIPATION IN COMMONFUND IS LIMITED TO ORGANIZATIONS THAT BECOME MEMBERS. MEMBERSHIP IN COMMONFUND IS LIMITED TO EDUCATIONAL INSTITUTIONS DESCRIBED IN SECTION 170(B)(1)(A)(II) OF THE IRC AND EDUCATIONAL SUPPORT ORGANIZATIONS DESCRIBED IN SECTION 170(B)(1)(A)(IV) OF THE IRC. COMMONFUND OFFERS TO ITS MEMBERS A SERIES OF POOLED INVESTMENT FUNDS, EACH OF WHICH HAS ITS OWN INVESTMENT OBJECTIVES, POLICIES AND STRATEGIES. COMMONFUND THUS GIVES ITS MEMBERS THE OPPORTUNITY TO DIVERSIFY THEIR ENDOWMENT PORTFOLIOS ACROSS ASSET CLASSES AND INVESTMENT STRATEGIES EITHER BY INVESTING ALL OF THEIR ASSETS IN SEVERAL INVESTMENT FUNDS OF COMMONFUND OR BY USING INVESTMENTS IN FUNDS OF COMMONFUND TO COMPLEMENT OTHER PORTIONS OF THEIR PORTFOLIOS. THE INVESTMENT FUNDS MAINTAINED BY COMMONFUND ARE NOT SEPARATE LEGAL ENTITIES. THEY ARE POOLS OF ASSETS HELD BY COMMONFUND FOR MANAGEMENT IN ACCORDANCE WITH THE RULES TO WHICH EACH PARTICIPANT AGREES AS A CONDITION OF MEMBERSHIP IN COMMONFUND. FURTHERMORE, THE RULES PROVIDE THAT THE FUNDS ESTABLISHED BY COMMONFUND ARE HELD FOR THE EXCLUSIVE BENEFIT OF THE MEMBERS INVESTING IN THEM. IN ADDITION, COMMONFUND'S NEW YORK CONSTITUENT LEGISLATION PROVIDES THAT THE ASSETS OF ANY FUND ESTABLISHED BY COMMONFUND MAY NOT BE USED TO PAY THE DEBTS OR OBLIGATIONS INCURRED IN THE OPERATION OF ANY OTHER SUCH FUND, OR IN THE OPERATION OF COMMONFUND ON ITS OWN BEHALF. MEMBER FEES AND OTHER REVENUES OF COMMONFUND SUPPORT THE ORGANIZATION AS A WHOLE AND ARE NOT ALLOCATED FOR THE BENEFIT OF PARTICULAR FUNDS OR PRIVATE OWNERS. COMMONFUND OWNS AND CONTROLS A GROUP OF OPERATING SUBSIDIARIES. THE SUBSIDIARIES HAVE BEEN ORGANIZED AND ARE OPERATED TO ENGAGE IN BUSINESSES OR TO PROVIDE SERVICES THAT ARE OUTSIDE THE SCOPE OF COMMONFUND'S TAX EXEMPTION UNDER SECTION 501(F) OF THE INTERNAL REVENUE CODE. EACH OF THE SUBSIDIARIES IS A TAXABLE ENTITY, AND AS A CONSOLIDATED GROUP, THEY FILE A TAX RETURN ON FORM 1120 ANNUALLY. GIVEN COMMONFUND'S UNIQUE ORGANIZATIONAL STRUCTURE, THE FORM 990 FOR THE COMMON FUND FOR NONPROFIT ORGANIZATIONS REFLECTS THE COMBINED ASSETS AND ACTIVITIES OF THE INVESTMENT FUNDS AND OF COMMONFUND ITSELF (ON A PROPRIETARY BASIS, AND NOT INCLUDING THE TAXABLE OPERATING SUBSIDIARIES) AS DETAILED IN THE TABLE BELOW. ANNUAL FINANCIAL STATEMENT AUDITS ARE PERFORMED BY AN INDEPENDENT AUDITOR FOR EACH OF THE INVESTMENT FUNDS OFFERED BY COMMONFUND AND ALSO FOR THE CONSOLIDATED COMMONFUND GROUP. THESE AUDITED FINANCIAL STATEMENTS ARE REVIEWED AND APPROVED BY COMMONFUND'S BOARD AND ARE DISTRIBUTED TO MEMBER ORGANIZATIONS. COPIES OF THE AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2015 FOR THE INVESTMENT FUNDS AND THE COMMONFUND GROUP ARE AVAILABLE ON COMMONFUND'S WEBSITE WWW.COMMONFUND.ORG. FORM 990, PART XII, LINE 2B TABLE I: SUMMARY BALANCE SHEET MEMBER INVESTMENT FUNDS ASSETS LIABILITIES NET ASSETS INTERMEDIATE TERM 278,168,626 1,108,067 277,060,559 HIGH QUALITY BOND 514,751,156 44,042,244 470,708,912 GLOBAL BOND 10,381,296 80,174 10,301,122 MULTI-STRATEGY BOND 1,036,362,138 26,216,846 1,010,145,292 CORE EQUITY 249,217,563 1,712,110 247,505,453 SMALL CAP 8,805,045 12,495 8,792,550 EQUITY INDEX 155,152,689 42,018,064 113,134,625 REAL ESTATE SECURITIES 33,880,482 272,009 33,608,473 INTERNATIONAL EQUITY 129,846,406 8,744,069 121,102,337 MULTI-STRATEGY EQUITY 2,026,712,806 53,508,289 1,973,204,517 HEDGE FUND 146,805,697 593,202 146,212,495 GMAP 100,322,060 1,537,188 98,784,872 ============== ============ ============= TOTAL MEMBER INVESTMENT FUNDS 4,690,405,964 179,844,757 4,510,561,207 COMMONFUND 36,228,948 6,727,563 29,501,385 ============== ============ ============= FORM 990 TOTALS 4,726,634,912 186,572,320 4,540,062,592 FORM 990 REFERENCE - PART I LN 20 LN 21 LN 22 FORM 990, PART XII, LINE 2B TABLE II: SUMMARY REVENUE AND EXPENSES MEMBER INVESTMENT FUNDS REVENUE EXPENSES NET INCOME INTERMEDIATE TERM 4,419,939 907,004 3,512,935 HIGH QUALITY BOND 19,730,338 1,439,055 18,291,283 GLOBAL BOND 79,583 14,078 65,505 MULTI-STRATEGY BOND 14,883,163 63,316 14,819,847 CORE EQUITY 22,209,101 935,082 21,274,019 SMALL CAP 947,299 14,206 933,093 EQUITY INDEX 42,159,530 42,885 42,116,645 REAL ESTATE SECURITIES 3,535,271 252,650 3,282,621 INTERNATIONAL EQUITY 4,907,858 69,120 4,838,738 MULTI-STRATEGY EQUITY 181,410,949 1,938,849 179,472,100 HEDGE FUND 10,864,210 585,228 10,278,982 GMAP 1,528,386 25,994 1,502,392 ============= =========== ============= TOTAL MEMBER INVESTMENT FUNDS 306,675,627 6,287,467 300,388,160 COMMONFUND 27,248,213 30,429,504 (3,181,291) ============= =========== ============= FORM 990 TOTALS 333,923,840 36,716,971 297,206,869 FORM 990 REFERENCE - PART I LN 12 LN 18 LN 19 FAIRFIELD PARTNERS MANAGEMENT LLC 15 OLD DANBURY RD WILTON CT 06897 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DANBURY RD WILTON CT WILTON CT 06897 464291845 INVESTMENTS DE CF NONPROFIT EXCLUDED 0 597193 false 0 false 0.55387 CF GMAP LLC 15 OLD DANBURY RD WILTON CT WILTON CT 06897 461025091 INVESTMENTS DE CF NONPROFIT EXCLUDED 4777055 99378537 false 4212 false 0.50451 CF HOLDING COMPANY INC 15 OLD DANBURY ROAD PO BOX 812 WILTON CT 068970812 061481429 INVESTMT ADVI DE CF NONPROFIT C 1.00000 true CF CAPITAL INC 15 OLD DANBURY ROAD PO BOX 812 WILTON CT 068970812 061225208 INVESTMT ADVI DE CF HOLDING CO C true OLD DANBURY ROAD LESSEE CORP 15 OLD DANBURY ROAD PO BOX 812 WILTON CT 068970812 061539683 REAL ESTATE DE CF HOLDING CO C true CF REALTY INC 15 OLD DANBURY ROAD PO BOX 812 WILTON CT 068970812 061493690 INVESTMT ADVI DE CF HOLDING CO C true CF SECURITIES INC 15 OLD DANBURY ROAD PO BOX 812 WILTON CT 068970812 061493044 SECURITIES DE DE CF HOLDING CO C true OLD DANBURY ROAD CORP 15 OLD DANBURY ROAD PO BOX 812 WILTON CT 068970812 061539685 REAL ESTATE DE CF HOLDING CO C true CF ASSET MANAGEMENT CO 15 OLD DANBURY ROAD PO BOX 812 WILTON CT 068970812 061547454 INVESTMT ADVI DE CF HOLDING CO C true CF CREDIT OPPORTUNITIES COMPANY UGLAND HOUSE S CHURCH ST GRAND CAYMAN CJ KY1-1104 980444876 INVESTMENTS CJ CF NONPROFIT C 35590785 899831677 0.70760 true CF EMERGING MARKETS INVESTORS COMPANY UGLAND HOUSE S CHURCH ST GRAND CAYMAN CJ KY1-1104 980412952 INVESTMENTS CJ COMANCO C true CF HEDGED INVESTORS COMPANY UGLAND HOUSE S CHURCH ST GRAND CAYMAN CJ KY1-1104 980345743 INVESTMENTS CJ COMANCO C 13795638 160569249 0.54550 true CF DIVERSIFYING HEDGE STRATEGY UGLAND HOUSE S CHURCH ST GRAND CAYMAN CJ KY1-1104 980345747 INVESTMENTS CJ CF HEDG INV C true CF HEDGED EQUITY COMPANY UGLAND HOUSE S CHURCH ST GRAND CAYMAN CJ KY1-1104 980345744 INVESTMENTS CJ CF HEDG INV C true CF GLOBAL ABSOLUTE ALPHA COMPANY UGLAND HOUSE S CHURCH ST GRAND CAYMAN CJ KY1-1104 980557382 INVESTMENTS CJ COMANCO C 443648 61147382 0.25880 true CF WATER STREET CO UGLAND HOUSE S CHURCH ST GRAND CAYMAN CJ KY1-1104 980608075 INVESTMENTS CJ COMANCO C true COMMONFUND UK LTD 999999999 INVESTMENTS UK CF CAPITAL INC C true CF STRATEGIC SOLUTIONS GLBL HDG EQ CO UGLAND HOUSE S CHURCH ST GRAND CAYMAN CJ KY1-1104 980641392 INVESTMENTS CJ COMANCO C true CF STRATEGIC SOLUTIONS RELATIVE VALUE UGLAND HOUSE S CHURCH ST GRAND CAYMAN CJ KY1-1104 980641391 INVESTMENTS CJ COMANCO C true CF STRATEGIC SOLUTIONS DIVERSIFYING CO UGLAND HOUSE S CHURCH ST GRAND CAYMAN CJ KY1-1104 980641395 INVESTMENTS CJ COMANCO C true CFI MULTI-STRATEGY COMMODITIES FUND UGLAND HOUSE S CHURCH ST GRAND CAYMAN CJ KY1-1104 980446119 INVESTMENTS CJ COMANCO C true CFI REAL RETURN BOND FUND LTD UGLAND HOUSE S CHURCH ST GRAND CAYMAN CJ KY1-1104 980427507 INVESTMENTS CJ COMANCO C true CF INSTITUTIONAL COMMODITIES LTD UGLAND HOUSE S CHURCH ST GRAND CAYMAN CJ KY1-1104 980706078 INVESTMENTS CJ COMANCO C true CD STATION LLC 15 OLD DANBURY ROAD PO BOX 812 WILTON CT 06897 043459200 INVESTMENTS DE OLD DNBRY RD CO C true CF EQUITY MARKET NEUTRAL COMPANY UGLAND HOUSE S CHURCH ST GRAND CAYMAN CJ KY1-1104 981142782 INVESTMENTS CJ COMANCO C true false true true false false false false false false false false true true true false true true false false COMMONFUND HOLDING COMPANY INC & SUBSIDIARIES SEE P SCHEDULE R, PART V, TRANSACTIONS WITH RELATED ORGANIZATIONS THE COMMON FUND FOR NONPROFIT ORGANIZATIONS ("COMMONFUND") IS A NONPROFIT MEMBERSHIP CORPORATION ORGANIZED UNDER THE LAWS OF THE STATE OF NEW YORK. COMMONFUND HAS AFFILIATIONS WITH COMMONFUND HOLDING COMPANY, INC. AND SUBSIDIARIES (TOGETHER WITH ITS AND THEIR SUBSIDIARIES AND AFFILIATES, THE "COMMONFUND GROUP"). COMMONFUND GROUP HAS A MASTER INTERCOMPANY AGREEMENT THAT PROVIDES FOR INVESTMENT ADVISORY AND DISTRIBUTION SERVICE ARRANGEMENTS AMONGST THE COMMONFUND GROUP, AND FACILITIES SHARING AND SUPPORT SERVICES BY COMMONFUND. THE INTERCOMPANY AGREEMENT ALSO PROVIDES FOR THE ARM'S LENGTH CHARGE FOR THE ALLOCATION OF REVENUE AND COST (PURSUANT TO SECTION 482 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED, AND REGULATIONS THEREUNDER) AMONG THE COMPANIES IN THE COMMONFUND GROUP.