2015-02-16T07:56:38-06:00 2014-03-31 420714325 MCGLADREY LLP 230 N ELM ST STE 1100 GREENSBORO NC 27401 990 2013-04-01 237079591 CENTER FOR CREATIVE LEADERSHIP CENT 3362887210 PO BOX 26300 1 LEADERSHIP PLACE GREENSBORO NC 27438 BRADLEY E SHUMAKER EXECUTIVE VP/CFO 3362887210 2015-02-16 1 TAMELA L GAINEY P00437957 3362724551 2013 2016-02-25 16:41:14Z JOHN R RYAN PO BOX 26300 1 LEADERSHIP PLACE GREENSBORO NC 27438 101939275 0 X WWW.CCL.ORG X 1970 NC SEE SCHEDULE O 22 21 594 22 -15343 -15343 71635 245682 98308239 94027133 3876589 4581817 2467451 2695809 104723914 101550441 25429 12971 0 0 52502810 55682305 0 0 699568 47917558 43666427 100445797 99361703 4278117 2188738 130276169 126806046 30221790 25841454 100054379 100964592 X TO FULLY REALIZE OUR MISSION, THE CENTER WILL CREATE NEW KNOWLEDGE THAT ADVANCES OUR FIELD AND THAT POSITIVELY TRANSFORMS THE WAY LEADERS, THEIR ORGANIZATIONS AND THIER SOCIETIES CONFRONT THE MOST DIFFICULT CHALLENGES OF THE 21ST CENTURY. THESE IMPERATIVES REQUIRE THAT THE CENTER BECOME THE PREEMINENT GLOBAL INSTITUTION FOR LEADERSHIP DEVELOPMENT AND RESEARCH. 0 0 3342532 11509431 LEADERSHIP DEVELOPMENT PROGRAM (LDP): LDP IS THE CENTER FOR CREATIVE LEADERSHIP'S ("CCL") FLAGSHIP EXECUTIVE EDUCATION PROGRAM AND IS ATTENDED BY MORE EXECUTIVES WORLDWIDE THAN ANY SIMILAR TYPE PROGRAM. PARTICIPANTS OF THE PROGRAM TEND TO BE MIDDLE TO SENIOR LEVEL EXECUTIVES FROM THE PRIVATE, GOVERNMENT, MILITARY, EDUCATION AND NONPROFIT SECTORS. THE PROGRAM INCLUDES FIVE DAYS OF ON-SITE INSTRUCTION SURROUNDED BY INTENSE PRE AND POST WORK ASSIGNMENTS. THE PRIMARY OBJECTIVE OF THE PROGRAM IS TO ASSIST THE PARTICIPANT IN INCREASING HIS OR HER LEADERSHIP CAPACITY THROUGH A FEEDBACK INTENSIVE LEARNING EXPERIENCE AND HAND-ON ACTIVITIES. DURING THE FISCAL YEAR ENDED MARCH 31, 2014, 1,651 PARTICIPANTS ATTENDED THE LPD PROGRAM. 1665790 3642373 LEADERSHIP AT THE PEAK (LAP): LAP IS CCL'S MOST SENIOR LEVEL EXECUTIVE EDUCATION PROGRAM AND IS TARGETED FOR PARTICIPANTS WHO ARE AT THE HIGHEST EXECUTIVE POSITIONS WITHIN THEIR ORGANIZATION. MOST PARTICIPANTS ARE EITHER THE CEO OF THEIR ORGANIZATION OR A DIRECT REPORT OF THE CEO. THIS PROGRAM IS CHARACTERIZED BY LOW CLASS SIZE AND A HIGH FACULTY TO STUDENT RATIO. THE PROGRAM INCLUDES FIVE DAYS OF ON-SITE INSTRUCTION WITH SIGNIFICANT PRE AND POST WORK ASSIGNMENTS. THE PROGRAM ALLOWS FOR INTENSE LEARNING AMONG CLASS PARTICIPANTS AND IS GEARED TO ADDRESS THE DEMANDS AND NEEDS OF TOP EXECUTIVES. PARTICIPANTS COME FROM ALL SECTORS OF BUSINESS INCLUDING GOVERNMENT, MILITARY, NONPROFIT, EDUCATIONAL AND PRIVATE WITH THE OBJECTIVE OF EXPANDING THEIR LEADERSHIP CAPACITY. SEE SCHEDULE O FOR CONTINUATION...DURING THE FISCAL YEAR ENDED MARCH 31, 2014, 305 PARTICIPANTS ATTENDED THE LAP PROGRAM. 1917212 2027041 ROBERT WOOD JOHNSON FOUNDATION (RWJF) EXECUTIVE NURSE FELLOWS PROGRAMFUNDED BY THE ROBERT WOOD JOHNSON FOUNDATION (RWJF), THIS IS A HIGHLY COMPETITIVE NATIONAL NURSE FELLOWSHIP PROGRAM DESIGNED TO EXPAND NURSE LEADERSHIP AND POSITION NURSES TO HELP LEAD CHANGE IN THE UNITED STATES HEALTH CARE SYSTEM. THIS WORLD-CLASS FELLOWSHIP PROGRAM ENHANCES NURSE LEADERS' EFFECTIVENESS IN HELPING TO LEAD A REFORMED HEALTH CARE SYSTEM. THE MOST RECENT PROGRAM INCLUDES 20 NURSES FROM 109 APPLICANTS FOR THE THREE-YEAR PROGRAM. DURING THE FISCAL YEAR ENDING MARCH 31, 2014, 81 CURRENT FELLOWS PARTICIPATED IN THE PROGRAM. THEY JOIN MORE THAN 220 NURSE LEADERS WHO HAVE PARTICIPATED IN THE RWJF EXECUTIVE NURSE FELLOWS PROGRAM SINCE IT BEGAN IN 1998. THE PROGRAM IS CO-DIRECTED BY LINDA CRONENWETT, PH.D., R.N., F.A.A.N., THE BEERSTECHER BLACKWELL TERM PROFESSOR AND FORMER DEAN OF THE SCHOOL OF NURSING AT THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL; AND DAVID ALTMAN, EXECUTIVE VICE PRESIDENT AND MANAGING DIRECTOR EMEA AT CCL. 1073401 5504230 LEADING FOR ORGANIZATIONAL IMPACT (LOI): LOI BREAKS OPEN KEY CHALLENGES FACED BY SENIOR LEADERS THROUGH A COMPREHENSIVE, GLOBAL, DAY-IN-THE-LIFE BUSINESS SIMULATION. COMBINED WITH FEEDBACK, ASSESSMENTS AND COACHING, PARTICIPANTS GAIN A CLEAR VIEW OF HOW THEIR PARTICULAR LEADERSHIP STYLE AFFECTS THEIR WORKPLACE, THOSE THEY WORK WITH AND ULTIMATELY, THEIR OWN SUCCESS AS A LEADER. THE PARTICIPANTS FOCUS ON FOUR FUNDAMENTAL SKILLS - SELF-AWARENESS, COMMUNICATION, INFLUENCE, LEARNING AGILITY - THAT THEY HAVE DEVELOPED DURING THEIR CAREERS, BUT WITH AN EMPHASIS ON WHAT CHANGES AT THE TOP. IN ADDITION, THE PROGRAM COVERS TWO AREAS THAT ARE CRITICAL AT THE SENIOR LEVEL: THINKING AND ACTING STRATEGICALLY AND WORKING ACROSS BOUNDARIES. DURING THE FISCAL YEAR ENDED MARCH 31, 2014 704 PARTICIPANTS ATTENDED THE LOI PROGRAM. 1111490 1116752 GOLDEN LEAF PROGRAM. FUNDED BY THE GOLDEN LEAF FOUNDATION, THIS PROGRAM ALLOWS ELIGIBLE PARTICIPANTS FROM NORTH CAROLINA BASED UNIVERSITIES TO JOIN WITH OTHER GOLDEN LEAF SCHOLARS TO BUILD LEADERSHIP SKILLS THROUGH INTERACTIVE, DYNAMIC WORKSHOPS DURING THE ACADEMIC YEAR. DURING THE SUMMER, PARTICIPANTS HAVE THE OPPORTUNITY TO PRACTICE AND APPLY THESE SKILLS, IN AN INTERNSHIP, COMMUNITY SERVICE, OR OTHER ACTION-LEARNING PROJECT. THE SKILLS AND KNOWLEDGE PARTICIPANTS DEVELOP IN THIS PROGRAM HELP THEM DURING THEIR COLLEGE EXPERIENCE AND CONTINUE TO BE IMPORTANT AS THEY START EXPLORING AND MOVING INTO THE CAREER WORLD. THE PROGRAM CAN ACCOMMODATE 120 FRESHMEN GOLDEN LEAF SCHOLARS. 71371 69379 YOUTH VOICES FOR PEACE.THIS IS A PROJECT UNDERTAKEN BY THE CENTER FOR CREATIVE LEADERSHIP (CCL) AS PART OF THE INITIATIVE LEADING BEYOND BOUNDARIES. IT TAKES PLACE IN NAKURU, KENYA AND IS BEING IMPLEMENTED THERE TOGETHER WITH THE CENTER FOR TRANSFORMATIONAL LEADERSHIP.YV4P IS DESIGNED FOR THE KENYAN CONTEXT AND ITS STRUGGLE WITH PEACEFUL BEHAVIOR. IT SUPPORTS A GROWING MINDSET OF UNITING KENYANS BY OFFERING EXAMPLES FOR REALIZING A SHIFT IN THINKING.YV4P AIMS TO AMPLIFY YOUNG VOICES IN THE AREA OF NAKURU AND ITS SURROUNDING TOWNS, KENYANS WHO ARE ALREADY ON THEIR WAY TO A NEW WAY. IN FOUR STAGES THEY ARE SUPPOSED TO WORK ON THEMSELVES AND REALIZE THEIR POTENTIAL AND WORK WITH OTHERS TO OFFER THEIR UNIQUE WAY OF THINKING AS A GIFT TO THE PUBLIC. 649683 957425 AMERICAN EXPRESS PHILANTHROPY PROGRAM.THE CENTER FOR CREATIVE LEADERSHIP'S WORK SUPPORTS THE AMERICAN EXPRESS NONPROFIT LEADERSHIP ACADEMY TO ADDRESS THE NEEDS CREATED BY A GROWING DEFICIT OF NONPROFIT LEADERSHIP TALENT. THE CENTER FOR CREATIVE LEADERSHIP HAS TEAMED WITH AMERICAN EXPRESS TO TRAIN EMERGING NONPROFIT LEADERS IN THE SKILLS THEY NEED TO MOVE UP, TAKE ON NEW RESPONSIBILITIES AND LEAD THEIR ORGANIZATIONS INTO THE FUTURE. THE ACADEMY IS A PROGRAM DESIGNED TO ADDRESS THE SPECIAL CHALLENGES NONPROFIT LEADERS FACE - FROM BUILDING COALITIONS...TO LEADING VOLUNTEERS...TO MANAGING LIMITED RESOURCES STRATEGICALLY. EMERGING LEADERS FROM NONPROFITS ACROSS THE COUNTRY ARE NOMINATED FOR THE PROGRAM AND COMPETE FOR SLOTS IN EACH CLASS. THOSE SELECTED MUST HOLD A MANAGER-LEVEL POSITION, BE DEDICATED TO A CAREER IN THE NONPROFITS AND SHOW STRONG CAREER MOMENTUM. THE CENTER FOR CREATIVE LEADERSHIP WORKS WITH THESE PARTICIPANTS ON THE SKILLS THAT THEY NEED TO LEAD MORE EFFECTIVELY. 124734 185757 SOUTHERN METHODIST UNIVERSITY PROGRAM.SOUTHERN METHODIST UNIVERSITY AND THE CENTER FOR CREATIVE LEADERSHIP WORKED TOGETHER IN THE SPIRIT OF COLLABORATION TO CREATE AN INTEGRATED LEADERSHIP PROGRAM THAT WILL DEVELOP THE LEADERSHIP CAPACITY OF ALL STUDENTS AT THE LYLE SCHOOL OF ENGINEERING WITHIN THE LYLE LEADERSHIP FRAMEWORK DESIGNED AND CREATED BY THE PARTIES. THEY ARE JOINTLY COMMITTED TO WORKING WITH TRANSPARENCY, FLEXIBILITY, AND RESPONSIBILITY TO ACHIEVING THE HIGHEST SUCCESS OF THIS EFFORT. 227661 289674 RAVENSCROFT SCHOOL PROGRAM.THE CENTER FOR CREATIVE LEADERSHIP PARTNERS WITH RAVENSCROFT SCHOOL TO BUILD ON ITS EXCEPTIONAL ACADEMIC FOUNDATION AND DEVELOP A WORLD-CLASS LEADERSHIP AND CITIZENSHIP INITIATIVE TO PROVIDE ALL RAVENSCROFT STUDENTS WITH THE SKILLS, TOOLS, EXPERIENCES, SUPPORT, CONFIDENCE AND HUMILITY TO EXCEL IN COLLEGE AND BEYOND. THE GOAL IS TO ENABLE STUDENTS TO BECOME ENGAGED LEADERS AND CITIZENS IN OUR GLOBAL COMMUNITY; TO OFFER THIS OPPORTUNITY TO A NUMBER OF FAMILIES REGARDLESS OF INCOME OR BACKGROUND; TO CREATE A TRANSFORMATIVE TEACHING AND LEARNING EXPERIENCE THAT CAN PROVIDE A MODEL FOR OTHER INDEPENDENT AND PUBLIC SCHOOL SYSTEMS NATION-WIDE AND TO CATALYZE A SUSTAINED, POSITIVE IMPACT IN OUR WORLD THROUGH THE COLLECTIVE IMPACT OF THE RAVENSCROFT COMMUNITY. 79944443 12971 72176200 OTHER PROGRAM SERVICES 83202783 12971 80299417 90128317 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 0 1 1 1 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 X 825 0 1 594 1 1 1 1 BE IN FR RS SN UK ET SF 0 0 0 0 0 0 0 0 X 22 21 1 0 0 0 0 0 0 1 1 0 1 1 0 1 1 1 1 1 1 1 1 1 CA NC X BRADLEY E SHUMAKER 3362864008 ONE LEADERSHIP PLACE GREENSBORO NC 27410 X INGAR SKAUG CHAIRMAN-GOVERNORS & TRUSTEE 4.00 X X 43900 0 0 JOHN R RYAN PRESIDENT, CEO, GOVERNOR 40.00 X X 980343 0 25662 SUE W COLE VICE CHAIR-GOVERNORS & TRUSTEE 2.00 X 9800 0 0 CUTLER DAWSON GOVERNOR 2.00 X X 11500 0 0 W WINBURNE KING III TRUSTEE & GOVERNOR 2.00 X 16400 0 0 PETER L RICHARDSON TRUSTEE CHAIRMAN & GOVERNOR 2.00 X 43900 0 0 THOMAS W ROSS GOVERNOR 2.00 X 11500 0 0 DAVID A THOMAS PHD GOVERNOR 2.00 X 10500 0 0 ILENE WASSERMAN PHD GOVERNOR 2.00 X 11500 0 0 ERIC R CALHOUN TRUSTEE 2.00 X 6100 0 0 HAYNES G GRIFFIN TRUSTEE 2.00 X 6100 0 0 L RICHARDSON PREYER JR TRUSTEE 2.00 X 5500 0 0 TYLER B RICHARDSON TRUSTEE 2.00 X 6700 0 0 NENAD PACEK TRUSTEE 2.00 X 4750 0 0 RAYMOND M BURSE GOVERNOR 2.00 X 11500 0 0 JOHN BUTLER GOVERNOR 2.00 X 4750 0 0 OM BHATT GOVERNOR 2.00 X 11500 0 0 MARCIA AVEDON GOVERNOR 2.00 X 10500 0 0 VANCE W TANG GOVERNOR 2.00 X 11500 0 0 BARBARA FREDRICKSON GOVERNOR 2.00 X 11500 0 0 ELAINE BIECH GOVERNOR 2.00 X 11500 0 0 KIMBERLY CLINE GOVERNOR 2.00 X 10500 0 0 MICHAEL ROCHELLE GOVERNOR 2.00 X 5750 0 0 MARTIN SCHNEIDER GOVERNOR 2.00 X 4750 0 0 DAVID G ALTMAN EVP & MANAGING DIRECTOR, EMEA 40.00 X 210447 67930 34612 BRUCE BYINGTON EVP AMERICAS 40.00 X 236854 0 31487 JENNIFER MARTINEAU VP RESEARCH, INNOVATION & PROD DEV 40.00 X 189055 0 31225 PAUL J DRAEGER VP CHIEF TALENT OFFICER 40.00 X 162561 0 26644 PORTIA R MOUNT SVP GLOBAL MARKETING 40.00 X 200791 0 32569 ROLAND SMITH VP AND MANAGING DIRECTOR 40.00 X 205115 47217 23366 WILLAM A PASSMORE SVP & GLOBAL ORG LEADERSHIP DEV 40.00 X 142879 0 18209 BRADLEY E SHUMAKER EVP, CFO, CHIEF ADMIN OFFICER 40.00 X 280277 0 25548 GUYLAINE A RENAUD ASST TREASURER & ASST SECRETARY 40.00 X 147073 0 21425 KATHERINE M BEATTY MANAGING DIRECTOR 40.00 X 165793 0 26502 JOHN F FERGUSON MANAGING DIRECTOR 40.00 X 182821 0 24267 DEBRA ZALESCHUCK MANAGING DIRECTOR 40.00 X 124555 0 23215 DONALD PRINCE FACULTY DIRECTOR 40.00 X 142098 213922 37540 CLEMSON TURREGANO LEADERSHIP PORTFOLIO DIRECTOR - EMEA 40.00 X 167952 12297 19337 JOAN SHIELDS MANAGING DIRECTOR 40.00 X 166346 0 21779 RENEE HULTIN GROUP DIRECTOR, GLOBAL PRODUCT DEVELOPMENT 40.00 X 182811 0 10963 LUCILE JOHNSON GROUP DIRECTOR, NA BUSINESS DEVEL 40.00 X 181249 0 22950 4350920 341366 457300 137 1 1 0 DATA SOLUTIONS INC 5900 BAKER ROAD MINNETONKA MN 55345 PROGRAM MODELING AND CONSULTING SERVICES 1586051 COMPUWARE CORP 1 CAMPUS MARTIUS DETROIT MI 48226 SOFTWARE CONSULTANT 1062256 PLATINUM EUROPE SANV BOULEVARD DU SOURERAIN 100 VORSTIAA BRUSSELS BE BE 1170 ERP CONSULTING & TRAINING 488163 MARTINEAU RECRUITING TECHNOLOGY 663 GRAIN STREET KERNERSVILLE NC 27284 SOFTWARE CONSULTANT 452122 THE BRAND CONSULTANCY 2200 PENNSYLVANIA AVE WASHINGTON DC 20037 BRANDING CONSULTANTS 438711 60 X 245682 245682 PROFESSIONAL INCOME 611600 55236783 55236783 TUITION INCOME 611600 26363836 26363836 PRGM & RESEARCH GRANTS 611600 6976964 6976964 TEST & MATERIALS SALES 611600 4444453 4444453 PUBLICATION SALES 611600 1005097 1005097 94027133 1174505 9377 1165128 2352458 1030 2351428 3796146 344509 44325 3451637 -44325 3407312 3451129 -43817 CAFETERIA SALES 611710 103245 103245 OTHER INCOME FROM K-1 611710 80307 18067 62240 EXCHANGE RATE GAINS 611710 6580 6580 153219 153219 343351 101550441 97478262 -15343 3841840 12971 12971 3834941 1632502 2167856 34583 41320777 39452048 1457566 411163 2113622 1991965 98709 22948 4075561 3845619 172989 56953 4337404 4066833 238891 31680 21832944 21643926 183071 5947 310030 310030 376732 33811 342921 1549 1549 195569 17601 177968 2408879 2383510 25369 3416739 3152889 245046 18804 59685 57128 2190 367 4177005 3744917 425941 6147 5514817 5196019 305694 13104 222448 222448 121830 104530 17056 244 4270112 3374665 845829 49618 298554 191141 101153 6260 PUBLICATIONS 4603286 4603078 208 MEALS 2048194 2036364 8232 3598 DEDUCTIONS FROM K-1 833294 833294 CONTR FORIGN CORP EXPS -12937433 -12937433 5912193 5300236 599382 12575 99361703 90128317 8533818 699568 5241 2986 3133981 1177845 31562103 26464834 670116 390142 1622111 1590242 64705420 40930288 23893841 23775132 69388776 73404865 130276169 126806046 17951657 15421647 12263507 10668184 6626 -248377 30221790 25841454 X 37435147 35158647 57370820 60557533 5248412 5248412 100054379 100964592 130276169 126806046 X 2188738 -479519 -1033937 234931 X X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 57852354 6669502 2532830 61989026 55472491 4822027 2442164 57852354 55530516 2186497 2244522 55472491 51807894 6066136 2343514 55530516 42296385 416075 11593695 2498261 51807894 0.08470 0.91530 0 0 26418107 12406321 14011786 38252526 28523967 9728559 34787 34787 23775132 MOORINGS CAPITAL, LLC 68496742 F DEFERRED COMPENSATION PLAN 501471 F REAL ESTATE INVESTMENT TRUST 2894114 F INVESTMENT IN CENTER FOR CREATIVE LEADERSHIP - RUSSIA (CFC) 597811 C INVESTMENT IN CENTER FOR CREATIVE LEADERSHIP - SINGAPORE (CFC) 784481 C INVESTMENT IN CENTER FOR CREATIVE LEADERSHIP - INDIA (CFC) 105846 C INVESTMENT IN CENTER FOR CREATIVE LEADERSHIP - ETHIOPIA (CFC) 24280 C INVESTMENT IN CENTER FOR CREATIVE LEADERSHIP - SOUTH AFRICA (CFC) 120 C 73404865 NON-CONTROLLING INTEREST IN CONSOLIDATED SUBSIDIARY -248377 -248377 X 113668248 -479519 408652 12146392 12075525 101592723 1549 -43831 -42282 101550441 113206998 1442589 43831 13193718 14680138 98526860 1549 833294 834843 99361703 PART V, LINE 4: ENDOWMENT FUNDS ARE USED TO SUPPORT GENERAL ACTIVITIES AND SPECIAL PROJECTS AS DESIGNATED BY THE BOARD OF TRUSTEES AND APPLICABLE LAWS. PART X, LINE 2: THE CENTER QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) AND SECTION 170(B)(1)(A)(II) (AN EDUCATIONAL ORGANIZATION AND NOT A PRIVATE FOUNDATION) OF THE INTERNAL REVENUE CODE AND, ACCORDINGLY, IS NOT SUBJECT TO INCOME TAXES. HOWEVER, THE BELGIUM BRANCH AND THE BELGIUM, SINGAPORE, INDIA, RUSSIA, ETHIOPIA, SOUTH AFRICA, AND SINGAPORE JOINT VENTURE SUBSIDIARIES ARE SUBJECT TO TAXATION IN THOSE COUNTRIES. THE CENTER HAS REALIZED NO SIGNIFICANT INCOME TAX EXPENSE AS A RESULT OF THESE OPERATIONS. THE CENTER ADHERES TO THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES TOPIC OF THE FASB ASC. MANAGEMENT EVALUATED THE CENTER'S TAX POSITIONS AND CONCLUDED THAT THE CENTER HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THE GUIDANCE. WITH FEW EXCEPTIONS, THE CENTER IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE TAX AUTHORITIES FOR YEARS BEFORE 2011. PART XI, LINE 2D - OTHER ADJUSTMENTS: GAAP/TAX DIFFERENCE IN PARTNERSHIP INCOME 2,711,759. CENTER FOR CREATIVE LEADERSHIP - RUSSIA INCOME/ CFC 1,316,120. CENTER FOR CREATIVE LEADERSHIP - SINGAPORE INCOME/ CFC 5,869,437. CENTER FOR CREATIVE LEADERSHIP - INDIA INCOME/ CFC 1,143,776. CENTER FOR CREATIVE LEADERSHIP PROFESSIONAL SERVICES/ CFC -48,266. CENTER FOR CREATIVE LEADERSHIP - ETHIOPIA INCOME/ CFC 246,826. CCL - SOUTH AFRICA INCOME/ CFC 814,745. CCL GREATER CHINA SINGAPORE JV 91,995. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASSIFICATION OF LOSS ON DISPOSAL OF FIXED ASSETS -43,831. PART XII, LINE 2D - OTHER ADJUSTMENTS: CENTER FOR CREATIVE LEADERSHIP - RUSSIA EXPENSES/ CFC 2,118,288. CENTER FOR CREATIVE LEADERSHIP - SINGAPORE EXPENSES/ CFC 6,787,301. CENTER FOR CREATIVE LEADERSHIP - INDIA EXPENSES/ CFC 1,794,269. CENTER FOR CREATIVE LEADERSHIP PROFESSIONAL SERVICES/ CFC -29,401. CENTER FOR CREATIVE LEADERSHIP - ETHIOPIA EXPENSES/ CFC 416,072. CCL - SOUTH AFRICA INCOME/ CFC 1,921,166. CCL GREATER CHINA SINGAPORE JV 186,023. PART XII, LINE 4B - OTHER ADJUSTMENTS: PARTNERSHIP DEDUCTIONS FROM MOORINGS CAPITAL LLC 833,294. 1 1 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 THE CENTER DOES NOT USE BROADCAST MEDIA FOR THE SOLICITATION OF STUDENTS. IT RELIES PRIMARILY ON PERSONAL RECOMMENDATIONS, DIRECT MAIL, AND ADVERTISEMENTS IN PROFESSIONAL JOURNALS. A STATEMENT REGARDING ITS NON-DISCRIMINATORY POLICY IS INCLUDED IN ALL PROGRAM ADVERTISING AND DIRECT MAIL PIECES. THE CENTER HAS MAINTAINED DEMOGRAPHIC STATISTICS PERTAINING TO PROGRAM PARTICIPANTS, DEMONSTRATING THAT THE CENTER DOES IN FACT FOLLOW A NON-DISCRIMINATORY POLICY. DATA DESCRIBING THE PROGRAM PARTICIPANTS FOR THE PAST TEN YEARS IS AS FOLLOWS: YEAR WHITE NON-WHITE NO INDICATION 2005 72% 22% 6% 2006 69% 20% 11% 2007 61% 27% 12% 2008 62% 35% 3% 2009 64% 32% 4% 2010 48% 49% 3% 2011 48% 51% 1% 2012 48% 48% 4% 2013 46% 24% 30% 2014 43% 13% 45% 1 EAST ASIA AND THE PACIFIC - 1 29 PROGRAM SERVICES SINGAPORE - CCL-APAC OFFERS A PORTFOLIO OF RESEARCH-BASED PROGRAMS AND SERVICES UNIVERSALLY RECOGNIZED FOR EFFECTIVENESS IN BUSINESS AND LEADERSHIP EDUCATION. 6787302 RUSSIA & THE NEWLY INDEPENDENT STATES - 1 9 PROGRAM SERVICES RUSSIA - CCL'S MOSCOW OFFICE IS A HUB FOR LEADERSHIP EDUCATION AND RESEARCH, DESIGNED TO MEET THE CHALLENGES OF THE LOCAL MARKET. 2180725 SOUTH ASIA - AFGHANISTAN, BANGLADESH, 1 6 PROGRAM SERVICES INDIA - CCL'S INDIA OFFICE IS A HUB FOR LEADERSHIP EDUCATION AND RESEARCH, DESIGNED TO MEET THE CHALLENGES OF THE LOCAL MARKET. 1793412 EUROPE (INCLUDING ICELAND & GREENLAND) - 1 68 PROGRAM SERVICES BELGIUM - CCL-BELGIUM OFFERS VARIOUS LEADERSHIP DEVELOPMENT PROGRAMS DESIGNED TO MEET THE NEEDS OF INDIVIDUALS AT ALL LEVELS IN THEIR CAREERS, AS WELL AS GROUPS OF MANAGERS OR ENTIRE ORGANIZATIONS. 18584348 EUROPE (INCLUDING ICELAND & GREENLAND) - 0 0 PROGRAM SERVICES BELGIUM - CCL PROFESSIONAL SERVICES IS A JOINT VENTURE ORGANIZED TO PROVIDE ADVISORY SERVICES, EXPERT ASSESSMENTS AND PROFESSIONAL SERVICES PARTICULARLY IN THE FIELD OF INDIVIDUAL AND ORGANIZATIONAL LEADERSHIP DEVELOPMENT. -29416 SUB-SAHARAN AFRICA - ANGOLA, 1 12 PROGRAM SERVICES ETHIOPIA - CCL-ETHIOPIA OFFICE IS A HUB FOR LEADERSHIP EDUCATION AND RESEARCH DESIGNED TO MEET THE CHALLENGES OF THE LOCAL MARKET. 413060 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA, FASO, 1 6 PROGRAM SERVICES CCL SOUTH AFRICA'S OFFICE IS A HUB FOR LEADERSHIP EDUCATION AND RESEARCH, DESIGNED TO MEET THE CHALLENGES OF THE LOCAL MARKET 1921167 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 1 3 PROGRAM SERVICES CCL SINGAPORE JV'S OFFICE IS A HOLDING COMPANY WHOSE PURPOSE IS TO OPEN A WHOLLY OWNED FOREIGN SUBSIDIARY IN CHINA TO ADDRESS LEADERSHIP EDUCATION AND RESEARCH, DESIGNED TO MEET THE CHALLENGES OF THE CHINESE MARKET 186023 7 133 0 0 7 133 31836621 0 31836621 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA, FASO, TO TRAIN COMMUNITY ACTIVIST OR UNIVERSITY GRADUATES IN LEADERSHIP ESSENTIALS FOR PEACE METHODOLGY. 12971 WIRE TRANSFERS 0 1 1 0 1 1 1 0 PART I, LINE 3: SINGAPORE: SINGAPORE FINANCIAL REPORTING STANDARDS RUSSIA: COMPLIANCE WITH THE LEGAL ACTS OF THE RUSSIAN FEDERATION INDIA: GENERALLY ACCEPTED ACCOUNTING STANDARDS IN INDIA BELGIUM: BELGIAN ACCOUNTING PRINCIPLES BELGIUM PROFESSIONAL SERVICES: BELGIAN ACCOUNTING PRINCIPLES ETHIOPIA: ETHIOPIA ACCOUNTING PRINCIPLES ADJUSTED FOR BELGIAN ACCOUNTING PRINCIPLES SINGAPORE JV: SINGAPORE FINANCIAL REPORTING STANDARDS SOUTH AFRICA: INTERNATIONAL FINANCIAL REPORTING STANDARDS (IFRS) SCHEDULE F, PART IV, LINE 4: THE CENTER HAS INDIRECT OWNERSHIP OF PASSIVE FOREIGN INVESTMENT COMPANIES THROUGH THE OWNERSHIP OF MOORINGS CAPITAL LLC. MOORINGS CAPITAL LLC HAS MADE THE ASSOCIATED QUALIFIED ELECTING FUND ELECTIONS AND THE REQUIRED FORMS 8621 HAVE BEEN FILED. THE CENTER ALSO HAS INDIRECT OWNERSHIP OF FOREIGN PARTNERSHIPS THROUGH MOORINGS CAPITAL LLC. THE CENTER'S INVESTMENTS REPRESENT LESS THAN 1% OWNERSHIP IN EACH FOREIGN PARTNERSHIP. X X X 1 1 X X X X X X 1 1 0 0 0 0 0 1 0 JOHN R RYAN PRESIDENT, CEO, GOVERNOR 530928 0 167825 0 281590 0 15300 0 10362 0 1006005 0 280828 0 DAVID G ALTMAN EVP & MANAGING DIRECTOR, EMEA 98123 67930 21500 0 90824 0 15300 0 19312 0 245059 67930 0 0 BRUCE BYINGTON EVP AMERICAS 212458 0 24000 0 396 0 14620 0 16867 0 268341 0 0 0 JENNIFER MARTINEAU VP RESEARCH, INNOVATION & PROD DEV 172565 0 16400 0 90 0 11914 0 19311 0 220280 0 0 0 PAUL J DRAEGER VP CHIEF TALENT OFFICER 148423 0 14000 0 138 0 10155 0 16489 0 189205 0 0 0 PORTIA R MOUNT SVP GLOBAL MARKETING 183131 0 17600 0 60 0 12659 0 19910 0 233360 0 0 0 ROLAND SMITH VP AND MANAGING DIRECTOR 90994 47217 1261 0 112860 0 9446 0 13920 0 228481 47217 0 0 WILLAM A PASSMORE SVP & GLOBAL ORG LEADERSHIP DEV 130483 0 12000 0 396 0 8549 0 9660 0 161088 0 0 0 BRADLEY E SHUMAKER EVP, CFO, CHIEF ADMIN OFFICER 257139 0 23000 0 138 0 15300 0 10248 0 305825 0 0 0 GUYLAINE A RENAUD ASST TREASURER & ASST SECRETARY 138815 0 8000 0 258 0 8976 0 12449 0 168498 0 0 0 KATHERINE M BEATTY MANAGING DIRECTOR 160569 0 5134 0 90 0 10333 0 16169 0 192295 0 0 0 JOHN F FERGUSON MANAGING DIRECTOR 177361 0 5322 0 138 0 11167 0 13100 0 207088 0 0 0 DEBRA ZALESCHUCK MANAGING DIRECTOR 113374 0 11002 0 179 0 7801 0 15414 0 147770 0 0 0 DONALD PRINCE FACULTY DIRECTOR 57552 213922 7000 0 77546 0 9292 0 28248 0 179638 213922 0 0 CLEMSON TURREGANO LEADERSHIP PORTFOLIO DIRECTOR - EMEA 96520 12297 8631 0 62801 0 8754 0 10583 0 187289 12297 0 0 JOAN SHIELDS MANAGING DIRECTOR 163603 0 2485 0 258 0 10087 0 11692 0 188125 0 0 0 RENEE HULTIN GROUP DIRECTOR, GLOBAL PRODUCT DEVEL 172721 0 10000 0 90 0 10963 0 0 0 193774 0 0 0 LUCILE JOHNSON GROUP DIRECTOR, NA BUSINESS DEVEL 139159 0 42000 0 90 0 11007 0 11943 0 204199 0 0 0 PART I, LINE 1A DONALD W. PRINCE, FACULTY DIRECTOR OF CCL, LLC, RECEIVED TAX INDEMNIFICATION AND GROSS-UP PAYMENTS DURING THE 2013 CALENDAR YEAR. THESE PAYMENTS WERE INCLUDED IN MR. PRINCE'S BASE COMPENSATION PAID BY A RELATED ORGANIZATION, AND BASE COMPENSATION PAID BY THE REPORTING ORGANIZATION, AS REPORTED ON FORM 990 PART VII, SECTION A AND SCHEDULE J. DAVID G. ALTMAN, EVP AND MANAGING DIRECTOR -EMEA, RECEIVED TAX INDEMNIFICATION AND GROSS-UP PAYMENTS, PAYMENTS FOR HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE, PAYMENTS FOR TRANSPORTATION, TUITION, AND RELOCATION DURING THE 2013 CALENDAR YEAR. THESE PAYMENTS WERE INCLUDED IN MR. ALTMAN'S BASE COMPENSATION PAID BY A RELATED ORGANIZATION, AND BASE COMPENSATION PAID BY THE REPORTING ORGANIZATION, AS REPORTED ON FORM 990 PART VII, SECTION A AND SCHEDULE J. ROLAND SMITH, VP AND MANAGING DIRECTOR -APAC, RECEIVED TAX INDEMNIFICATION AND GROSS-UP PAYMENTS, PAYMENTS FOR HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE, PAYMENTS FOR TRANSPORTATION, AND TUITION DURING THE 2013 CALENDAR YEAR. THESE PAYMENTS WERE INCLUDED IN MR. SMITH'S BASE COMPENSATION PAID BY A RELATED ORGANIZATION, AND BASE COMPENSATION PAID BY THE REPORTING ORGANIZATION, AS REPORTED ON FORM 990 PART VII, SECTION A AND SCHEDULE J. CLEMSON G. TURREGANO, LEADERSHIP PORTFOLIO DIRECTOR -EMEA, RECEIVED TAX INDEMNIFICATION AND GROSS-UP PAYMENTS, PAYMENTS FOR HOUSING ALLOWANCE OR RESIDENCE FOR PERSONAL USE, PAYMENTS FOR TRANSPORTATION, TUITION, AND RELOCATION DURING THE 2013 CALENDAR YEAR. THESE PAYMENTS WERE INCLUDED IN MR. TURREGANO'S BASE COMPENSATION PAID BY A RELATED ORGANIZATION, AND BASE COMPENSATION PAID BY THE REPORTING ORGANIZATION, AS REPORTED ON FORM 990 PART VII, SECTION A AND SCHEDULE J. PART I, LINES 4A-B TWO BELGIUM EMPLOYEES RECEIVED SEVERANCE PAYMENTS RANGING FROM $110,000 TO 273,000 IN 2013. THESE EMPLOYEES ARE NOT LISTED IN PART VII DUE TO BELGIUM LAW RESTRICTIONS FOR THE COMPENSATION DISCLOSURE. JOHN R. RYAN RECEIVED PAYMENT OF $280,828 FROM A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN IN 2013. JOHN R. RYAN AND BRADLEY E. SHUMAKER PARTICIPATED IN A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN IN 2013 AND MADE CONTRIBUTIONS OF $17,500 EACH IN 2013. PART I, LINE 7 THE CENTER HAS A DISCRETIONARY PERFORMANCE INCENTIVE PLAN FOR MANAGEMENT AND STAFF. INCENTIVE BONUSES CAN BE AWARDED ANNUALLY IF THE CENTER MEETS CERTAIN PERFORMANCE OBJECTIVES. BONUSES UNDER THE PLAN ARE SUBJECT TO APPROVAL BY THE BOARD OF GOVERNORS. PART I, LINE 3: THE EXECUTIVE COMMITTEE OF THE BOARD OF GOVERNORS IS RESPONSIBLE FOR ESTABLISHING THE COMPENSATION OF THE ORGANIZATION'S CEO/EXECUTIVE DIRECTOR. FORM 990, PART I, LINE 1 THE MISSION OF THE CENTER FOR CREATIVE LEADERSHIP ("CCL") IS TO ADVANCE THE UNDERSTANDING, PRACTICE, AND DEVELOPMENT OF LEADERSHIP FOR THE BENEFIT OF SOCIETY WORLDWIDE. WE CONDUCT RESEARCH, PRODUCE PUBLICATIONS AND PROVICE A BROAD VARIETY OF EDUCATIONAL PROGRAMS AND PRODUCTS TO LEADERS AND ORGANIZATIONS IN THE PUBLIC, CORPORATE AND NONPROFIT SECTORS. FOR OVER 40 YEARS, CCL HAS HELPED INDIVIDUALS AND ORGANIZATIONS UNLOCK THEIR POTENTIAL THROUGH AN EXCLUSIVE FOCUS ON LEADERSHIP AND RESEARCH. OUR ESTEEMED FACULTY OF BEHAVIORAL SCIENTISTS, RESEARCHERS AND COACHES OFFER UNPARALLELED EXPERTISE IN ADDRESSING LEADERSHIP CHALLENGES GLOBALLY. WE BELIEVE LEADERS ARE MADE - NOT BORN - AND THAT THEY CAN ADAPT AND CHANGE. WE BELIEVE IN PUTTING THE INDIVIDUALS AND ORGANIZATIONS WE SERVE FIRST. OUR NONPROFIT STATUS AND EDUCATIONAL MISSION GIVE US UNIQUE FLEXIBILITY IN A WORLD WHERE PROFIT MOTIVES OFTEN DRIVE ACTIONS. WE HAVE THE FREEDOM INSTEAD TO BE OBJECTIVE AND WARY OF SHORT-TERM TRENDS. LIKEWISE, WE HAVE THE FREEDOM TO FOCUS ON THE SUCCESS OF THOSE WE SERVE. OUR RESEARCH AND TRAINING PROGRAMS ARE WIDELY RESPECTED BY SCHOLARS AND PROFESSIONALS ALIKE. EACH YEAR, MORE THAN 20,000 MANAGERS AND EXECUTIVES, EDUCATORS, GOVERNMENT ADMINISTRATORS, COMMUNITY AND VOLUNTEER LEADERS AROUND THE WORLD ATTEND OUR PROGRAMS. OUR PUBLICATIONS, PRODUCTS AND RESEARCH INITIATIVES REACH A GLOBAL AUDIENCE AS WELL AND THE FINANCIAL TIMES AND BUSINESS WEEK RANK US AMOUNG THE WORLD'S TOP PROVIDERS OF EXECUTIVE EDUCATION. FORM 990, PART VI, SECTION A, LINE 2 PETER RICHARDSON, CHAIRMAN OF THE BOARD OF TRUSTEES, IS THE FATHER OF TYLER RICHARDSON WHO IS ALSO A PARTICIPANT ON THE BOARD OF TRUSTEES. PETER RICHARDSON, CHAIRMAN OF THE BOARD OF TRUSTEES, AND WINBURNE KING, TRUSTEE, ARE BOTH OFFICERS OF MOORINGS CAPITAL LLC ("MOORINGS"), AN INVESTMENT COMPANY. AS OF MARCH 31, 2014, THE CENTER MAINTAINED A PARTNERSHIP INTEREST OF APPROXIMATELY 9% IN MOORINGS CAPITAL LLC. MOORINGS IS AN INVESTMENT PARTNERSHIP LOCATED IN GREENSBORO, NC, AND WAS FORMED TO HANDLE INVESTMENTS FOR THE CENTER FOR CREATIVE LEADERSHIP AND OTHER IRC SECTION 501(C)(3) TAX-EXEMPT ENTITIES. THE PURPOSE FOR INVESTING IN MOORINGS IS TO POOL THE CENTER'S INVESTMENTS WITH THE INVESTMENTS OF OTHER IRC SECTION 501(C)(3) ENTITIES. BY CREATING A LARGER INVESTMENT POOL, THE TAX-EXEMPT ENTITIES IN MOORINGS HOPE TO IMPROVE THEIR OVERALL INVESTMENT RETURNS AND REDUCE THE OVERALL AMOUNT OF INVESTMENT ADVISORY FEES PAID. THE CENTER STILL MAINTAINS CONTROL OVER ITS ASSETS CONTRIBUTED TO MOORINGS AND DIRECTS THE INVESTMENT OF THOSE ASSETS. THE CENTER MAY WITHDRAW ITS ASSETS FROM THE LLC AT ANY TIME. ACCORDING TO THE OPERATIONS AGREEMENT OF MOORINGS, ONLY ENTITIES EXEMPT FROM FEDERAL INCOME TAX UNDER IRC SECTION 501(C)(3) ARE ALLOWED TO BE MEMBERS OF THE LLC. FORM 990, PART VI, SECTION B, LINE 11 FORM 990 WAS REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, RESPONSES TO THE CONFLICT OF INTEREST DISCLOSURE QUESTIONNAIRE ARE REVIEWED AND ANY INSTANCES OF POTENTIAL CONFLICT ARE INVESTIGATED. IN ADDITION, THE CENTER HAS ESTABLISHED POLICIES THAT PROHIBIT ACTIONS THAT COULD LEAD TO POTENTIAL CONFLICTS. THROUGHOUT THE YEAR, THE CENTER'S MANAGEMENT ACTIVELY REVIEWS ANY ACTION THAT COULD CREATE A POTENTIAL CONFLICT OF INTEREST AND INVESTIGATES APPROPRIATELY. FORM 990, PART VI, SECTION B, LINE 15 ANNUALLY, THE CENTER'S VICE PRESIDENT OF TALENT MANAGEMENT MEETS WITH THE EXECUTIVE COMMITTEE OF THE BOARD OF GOVERNORS TO REVIEW THE SALARIES OF THE PRESIDENT AND OFFICERS. THIS REVIEW INCLUDES AN ANALYSIS OF SALARY HISTORY AND COMPARABLE DATA. COMPENSATION AMOUNTS ARE DETERMINED SOLELY BY THE EXECUTIVE COMMITTEE OF THE BOARD OF GOVERNORS, WHICH IS COMPRISED OF INDEPENDENT PARTIES. FORM 990, PART VI, SECTION C, LINE 19 THE CENTER'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART VI, SECTION A, LINE 1A, GOVERNING BODIES: THE CENTER FOR CREATIVE LEADERSHIP HAS TWO SETS OF GOVERNING BODIES: THE BOARD OF TRUSTEES AND THE BOARD OF GOVERNORS. AS OF MARCH 31, 2014, THE BOARD OF TRUSTEES CONSISTED OF SEVEN INDIVIDUALS, THREE OF WHOM WERE ALSO PARTICIPANTS ON THE BOARD OF GOVERNORS. THE BOARD OF GOVERNORS WAS COMPRISED OF 15 ADDITIONAL INDIVIDUALS. THE BOARD OF TRUSTEES HAVE THE SOLE AUTHORITY TO: ELECT THE TRUSTEES, ELECT THE GOVERNORS, ELECT THE PRESIDENT, ADOPT AND AMEND BYLAWS, MANAGE THE REAL AND PERSONAL PROPERTY, SELECT THE AUDITORS, SET COMPENSATION OF TRUSTEES AND GOVERNORS AND APPROVE ANY INDEBTEDNESS. THE BOARD OF GOVERNORS HAS ALL OTHER OVERSIGHT AUTHORITY EXCEPT FOR THE ITEMS RESERVED FOR THE TRUSTEES. FORM 990, PART VI, SECTION A, LINE 1B, NON-INDEPENDENT VOTING MEMBER: JOHN RYAN, A MEMBER OF THE BOARD OF GOVERNORS, IS ALSO PRESIDENT AND CHIEF EXECUTIVE OFFICER OF THE CENTER FOR CREATIVE LEADERSHIP. FORM 990, PART VI, SECTION A, LINE 9A, ORGANIZATIONAL BRANCHES: THE CENTER FOR CREATIVE LEADERSHIP (CCL) OPERATES CAMPUSES IN GREENSBORO, NORTH CAROLINA; COLORADO SPRINGS, COLORADO; SAN DIEGO, CALIFORNIA; AND BRUSSELS, BELGIUM. CCL OPERATES WHOLLY OWNED SUBSIDIARIES IN PUNE, INDIA; ADDIS ABABA, ETHIOPIA, SINGAPORE AND JOHANNESBURG, SOUTH AFRICA. CCL OPERATES A 95% OWNED SUBSIDIARY IN MOSCOW, RUSSIA; AND A 70%.OWNED SINGAPORE JOINT VENTURE TO PROVIDE SERVICES TO CHINA. FORM 990, PART VII, SECTION A: THE AMOUNT OF REPORTABLE COMPENSATION INCLUDED IN COLUMN D FOR JOHN R. RYAN INCLUDES $280,828 OF DEFERRED COMPENSATION THAT WAS REPORTED ON PRIOR TAX RETURNS. CCL HAS OFFICES LOCATED IN FOREIGN COUNTRIES WITH RESTRICTIVE LAWS REGARDING COMPENSATION DISCLOSURE. CCL HAS NOT DISCLOSED THAT FOREIGN COMPENSATION IN PART VII. THE COMPENSATION RANGE FOR THOSE REQUIRED TO BE LISTED ON PART VII DUE TO THEIR POSITIONS WITH THE ORGANIZATION IS $190,000 TO $350,000. THIS INFORMATION IS AVAILABLE TO THE IRS UPON REQUEST. FORM 990, PART VIII, LINE 7(I), SALES OF ASSETS OTHER THAN INVENTORY: SALES OF SECURITIES SHOWN ON FORM 990, PART VIII, LINE 7(I) ARE THE RESULT OF SALES OF INVESTMENTS OF MOORINGS CAPITAL, LLC. THE NET REALIZED GAINS AND LOSSES AS SHOWN ON THE K-1 ARE AS FOLLOWS: NET SHORT-TERM CAPITAL GAIN/(LOSS): MOORINGS CAPITAL K-1, BOX 9A (294,900) RELATED/EXEMPT MOORINGS CAPITAL K-1, BOX 13L 2,896 UBI NET LONG-TERM CAPITAL GAIN/(LOSS): MOORINGS CAPITAL K-1, BOX 9A 3,746,537 RELATED/EXEMPT MOORINGS CAPITAL K-1, BOX 13L (46,713) UBI FORM 990, PART XI, LINE 9: ADJUSTMENT FOR EARNINGS FROM MOORINGS CAPITAL LLC K-1 3,545,053. NON CONTROLLING INTEREST IN CONSOLIDATED SUBSIDIARY 71,355. SUBSIDIARIES NET INCOME -3,759,085. FOREIGN CURRENCY TRANSLATION ADJUSTMENT 377,608. 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