2015-08-12T14:23:23-05:00 2014-12-31 410746749 CLIFTONLARSONALLEN LLP 4250 N FAIRFAX DRIVE SUITE 1020 ARLINGTON VA 22203 990 2014-01-01 237084339 GRADUATE MANAGEMENT ADMISSION COUNCIL GRAD 7036689600 11921 FREEDOM DRIVE NO 300 RESTON VA 20190 SAM REIMER CHIEF FINANCIAL OFFICER 7037490131 2015-08-11 1 KAREN GRIES P00078514 5712279500 2014 2016-02-25 16:41:14Z SANGEET CHOWFLA 11921 FREEDOM DRIVE NO 300 RESTON VA 20190 160282286 0 X WWW.GMAC.COM X 1970 VA TO ADMINISTER THE GRADUATE MANAGEMENT ADMISSION TEST, CONDUCT EDUCATIONAL RESEARCH AND PROVIDE OTHER EDUCATIONAL SERVICES. 16 15 141 14 166693 -20233 0 0 86622211 88795952 6467944 4064891 1432125 350999 94522280 93211842 1112268 1335707 0 0 27599895 28266585 0 0 0 61550938 58256725 90263101 87859017 4259179 5352825 160158007 172811397 28586271 32475240 131571736 140336157 X GRADUATE MANAGEMENT ADMISSION COUNCIL (GMAC) BELIEVES THAT BUSINESS AND MANAGEMENT ARE CRITICAL TO THE ECONOMIC AND SOCIAL WELL-BEING OF PEOPLE WORLDWIDE. WE PROVIDE INFORMATION AND INSIGHTS TO IMPROVE DECISION MAKING ABOUT THE DISCOVERY AND EVALUATION OF TALENT. AT GMAC, WE DO THIS TO CONTRIBUTE TO THE EFFECTIVE USE OF HUMAN, NATURAL, AND FINANCIAL RESOURCES THROUGHOUT THE WORLD. 0 1 36704547 0 80721102 TEST OPERATIONS - GRADUATE MANAGEMENT EDUCATION PROGRAMS EVALUATE APPLICANTS FROM MANY EDUCATIONAL BACKGROUNDS. THE GMAT HELPS SCHOOL PROGRAMS CHOOSE THE STUDENTS WHO ARE MOST LIKELY TO SUCCEED ACADEMICALLY IN A GIVEN PROGRAM. FOR LEADING BUSINESS SCHOOLS WORLDWIDE, THE GMAT IS RECOGNIZED AS THE MOST EFFECTIVE TEST AVAILABLE FOR MATCHING STUDENT COMPETENCIES WITH PROGRAM DEMANDS - REGARDLESS OF PROGRAM TYPE OR THE RACE, GENDER, OR NATIONAL ORIGIN OF STUDENTS. THE GRADUATE MANAGEMENT ADMISSION TEST (GMAT) IS A CRITICAL PART OF THE SELECTIVE ADMISSIONS PROCESS FOR NEARLY 6,100 GRADUATE MANAGEMENT PROGRAMS AT 2,100 SCHOOLS AROUND THE WORLD. FOR MORE THAN 50 YEARS, SCHOOLS HAVE TRUSTED THE GMAT EXAM, A PROVEN AND RELIABLE MEASUREMENT, TO ASSESS CANDIDATES' SKILLS AND PREDICT THEIR SUCCESS IN GRADUATE BUSINESS CURRICULUM.WAYS TO MEASURE - 2014 VALUESTEST REGISTRATIONS - 287,838TESTS TAKEN - 251,690SCORE REPORTS SENT - 706,816 NUMBER OF TEST CENTERS AS OF DEC 31, 2014:NORTH AMERICA - 396ASIA PACIFIC - 87EUROPE, MIDDLE EAST, AFRICA - 110LATIN AMERICA - 33NUMBER OF ACTIVE PROGRAMS ACCEPTING THE GMAT AS OF DEC 31, 2014:NORTH AMERICA - 4,476ASIA PACIFIC - 741EUROPE, MIDDLE EAST, AFRICA - 1,089LATIN AMERICA - 52 26214299 1335707 8370872 OTHER EDUCATIONAL SERVICES - SERVICES FOR STUDENTS:GMAC PROVIDES INFORMATION FOR STUDENTS ABOUT THE VALUE OF AND PROCESS FOR OBTAINING AN MBA DEGREE. THIS INFORMATION IS DELIVERED VIA WWW.MBA.COM, AS WELL AS THROUGH OTHER MEDIUMS AS APPROPRIATE. GMAC PROVIDES FREE GMAT TEST PREPARATION SOFTWARE TO STUDENTS. IN ADDITION, GMAC SELLS VARIOUS TEST PREPARATION PRODUCTS, BOTH HARD COPY AND ONLINE.WAYS TO MEASURE - 2014 VALUESWEBSITE VISITS FOR MBA.COM - 13,034,143NUMBER OF DOWNLOADS OF FREE TEST PREP SOFTWARE - 597,785SERVICES FOR SCHOOLS:GMAC PROVIDES INFORMATION FOR SCHOOL PROFESSIONALS ABOUT POTENTIAL STUDENTS AND GRADUATE MANAGEMENT EDUCATION TRENDS AND DEVELOPMENTS. THIS INFORMATION IS DELIVERED VIA WWW.GMAC.COM, AS WELL AS THROUGH OTHER MEDIUMS AS APPROPRIATE. WAYS TO MEASURE - 2014 VALUESMEDIA IMPRESSIONS - 5,500 MILLIONQUALITY MENTIONS OF GMAC IN MEDIA ARTICLES - 3,000WEBSITE VISITS FOR GMAC.COM - 1,147,615THE GRADUATE MANAGEMENT ADMISSION SEARCH SERVICE (GMASS) GIVES SCHOOL ADMISSION PROFESSIONALS ACCESS TO QUALIFIED POTENTIAL APPLICANTS WHO HAVE ALREADY SHOWN A STRONG INTEREST IN GRADUATE MANAGEMENT EDUCATION. THEY'VE CREATED AN MBA.COM PROFILE, THEY MAY HAVE TAKEN THE GMAT EXAM...AND THEY'VE SPECIFICALLY CHOSEN TO MAKE THEIR CONTACT AND OTHER INFORMATION AVAILABLE TO SCHOOLS. THIS IS AN ANNUAL, SUBSCRIPTION-BASED SERVICE WITH A POOL OF NAMES THAT FREQUENTLY RENEWS AS INDIVIDUALS MOVE THROUGH THE DECISION-MAKING PROCESS.WAYS TO MEASURE - 2014 VALUESNUMBER OF SEARCHES DONE - 16,575 TOTAL NUMBER OF GMASS SEARCHES COMPLETED IN CALENDAR YEAR 2014SCHOOL FINDER DATA WAREHOUSE CAPTURES BUSINESS SCHOOL ADMISSIONS, ENROLLMENT, AND EMPLOYMENT INFORMATION IN ONE PLACE. THIS DATA, DEFINED BY THE MBA REPORTING CRITERIA IS AN IMPORTANT SOURCE OF OBJECTIVE, CONSISTENT, AND COMPARABLE INDUSTRY INFORMATION FOR PROSPECTIVE STUDENTS (VIA THE MBA.COM SCHOOL SEARCH SERVICE), BUSINESS SCHOOL PROFESSIONALS, AND THE MEDIA.WAYS TO MEASURE - 2014 VALUESNUMBER OF SEARCHES DONE - 666,403NUMBER OF PARTICIPATING SCHOOLS - 1,675NUMBER OF PARTICIPATING PROGRAMS ESTIMATED - 6,064JOB OPENINGS IN GRADUATE MANAGEMENT EDUCATION: TO SUPPORT THE GRADUATE BUSINESS SCHOOL COMMUNITY, GMAC MAINTAINS A CURRENT LIST OF PROFESSIONAL POSITIONS AT BUSINESS SCHOOLS AROUND THE WORLD. THESE OPENINGS ARE POSTED DIRECTLY BY THE SCHOOLS. GMAC SERVES AS THE CENTRAL SOURCE OF NEWS AND INFORMATION IN THE FIELD OF GRADUATE MANAGEMENT EDUCATION.WAYS TO MEASURE - 2014 VALUESNUMBER OF JOB POSTINGS - 208GRADUATE MANAGEMENT NEWS: A FREE ONLINE NEWSLETTER PUBLISHED MONTHLY TO KEEP SCHOOLS UP TO DATE ON TRENDS AND PROVIDES FEATURE ARTICLES ON HOT TOPICS IN THE BUSINESS SCHOOL COMMUNITY.WAYS TO MEASURE - 2014 VALUESGRADUATE MANAGEMENT NEWS EMAILS SENT - 247,165GRADUATE MANAGEMENT NEWS PAGE VIEWS - 54,293MBA LEADERSHIP CONFERENCE: THIS ANNUAL EVENT, GENERALLY HELD IN THE EARLY WINTER, IS OPEN TO ACADEMIC AND ADMINISTRATIVE GRADUATE SCHOOL PROGRAM-LEVEL DEANS AND DIRECTORS-ATTENDANCE IS LIMITED TO ENSURE A FOCUSED AND DRIVEN PROGRAM.WAYS TO MEASURE - 2014 VALUESNUMBER OF TOTAL SCHOOL ATTENDEES - 136THE GMAC ANNUAL INDUSTRY CONFERENCE IN JUNE BRINGS TOGETHER GRADUATE BUSINESS PROFESSIONALS FROM ALL FUNCTIONS AND EXPERIENCE LEVELS FOR NETWORKING, LEARNING SESSIONS, AND DISCUSSIONS ABOUT THE LATEST TRENDS IN GRADUATE MANAGEMENT EDUCATION. WAYS TO MEASURE - 2014 VALUESNUMBER OF TOTAL SCHOOL ATTENDEES - 563THE ADMISSIONS INSTITUTE FOR NEW PROFESSIONALS, HELD IN THE SUMMER, IS DESIGNED FOR PROFESSIONALS FROM GMAT USING SCHOOLS WITH UP TO TWO YEARS OF EXPERIENCE IN BUSINESS SCHOOL ADMISSIONS.WAYS TO MEASURE - 2014 VALUESNUMBER OF TOTAL SCHOOL ATTENDEES - 64THE GLOBAL SYMPOSIA SERIES IS OPEN TO PROFESSIONALS FROM SCHOOLS WORLDWIDE THAT USE THE GMAT AND FOCUSES ON EXPLORING THE STUDENT EXPECTATIONS AND WAYS TO MEET THEM AS WELL AS THE POTENTIAL EMPLOYERS' NEEDS. IT FEATURES TWO EVENTS IN AUTUMN.GMGC 2014 EUROPEAN CONFERENCE:WAYS TO MEASURE - 2014 VALUESNUMBER OF ATTENDEES - 20 INSTITUTIONS REPRESENTED - 12COUNTRIES REPRESENTED - 6GMAC 2014 ASIA PACIFIC CONFERENCE:WAYS TO MEASURE - 2014 VALUESNUMBER OF ATTENDEES - 83 INSTITUTIONS REPRESENTED - 41COUNTRIES REPRESENTED - 18THE GMAC MANAGEMENT EDUCATION FOR TOMORROW (MET) FUND FORMALIZES AND ENHANCES THE GRADUATE MANAGEMENT ADMISSION COUNCIL'S LONG-STANDING COMMITMENT TO INVESTING (FINANCIAL AND IN-KIND) IN STRATEGIC PHILANTHROPIC INITIATIVES THAT BENEFIT AND ADVANCE BUSINESS AND MANAGEMENT EDUCATION GLOBALLY.THE LARGEST PROJECT, THE IDEAS TO INNOVATION CHALLENGE, AWARDED MORE THAN $7.1 MILLION TO 12 PROGRAMS, INCORPORATING ONE OR MORE OF THE 20 IDEAS CHOSEN FROM THE CHALLENGE'S FIRST PHASE, ASKING FOR IDEAS ON HOW TO IMPROVE GRADUATE MANAGEMENT EDUCATION. THESE PROGRAMS ARE CREATING NEW EDUCATION OPPORTUNITIES IN THE US, CANADA, SPAIN, KENYA, BOTSWANA, GHANA AND MORE, AND WILL BE IMPLEMENTED BETWEEN 2013 AND 2017. IN ADDITION, THE FUND AWARDED $250,000 TO THE PHD PROJECT, TO HELP FURTHER ITS MISSION TO PROMOTE ADDITIONAL MINORITY FACULTY IN BUSINESS SCHOOLS. 2144665 0 0 RESEARCH - GMAC RESEARCH PROVIDES DATA ABOUT GMAT TEST TAKERS AND GRADUATE MANAGEMENT PROGRAM CONSTITUENTS.THE POOL OF CANDIDATES FOR GRADUATE BUSINESS EDUCATION CONTINUES TO DIVERSIFY, AND OFFERING THE GMAT EXAM ALLOWS GMAC TO BUILD AN ACCURATE PICTURE OF TODAY'S BUSINESS SCHOOL APPLICANTS. GMAT INTERACTIVE PROFILE REPORTS SHOW CURRENT AND HISTORICAL TEST-TAKER TRENDS ABOUT WHERE TEST TAKERS LIVE, WHAT THEY EXPECT TO GAIN FROM BUSINESS SCHOOL, THEIR WORK EXPERIENCE, ETC. SCHOOLS CAN ALSO CUSTOMIZE A REPORT FOR INFORMATION TARGETED TO FIT THEIR NEEDS. ALL REPORTS CAN BE PRINTED OR DOWNLOADED AT THE SCHOOL'S CONVENIENCE.GMAC SURVEYS EXPLORE RELEVANT ISSUES, OFFERING DATA AT VARIOUS DEPTHS, DEPENDING ON WHAT SCHOOLS NEED AND HOW THEY PARTICIPATE. SURVEY REPORTS ARE FREQUENTLY USED TO HELP DRIVE STRATEGIC DECISION-MAKING PROCESSES IN GRADUATE BUSINESS SCHOOLS.WAYS TO MEASURE - 2014 VALUESNUMBER OF SURVEY REPORTS CREATED - 27 REPORTS: 6 SURVEY SUMMARY REPORTS; 6 SURVEY INTERACTIVE REPORTS; 4 OTHER INTERACTIVE REPORTS; 5 SURVEY BENCHMARK TOOLS; 5 DATA TO GO REPORTS; 1 RESEARCH REPORT (WHITE PAPER); 1,134 BENCHMARK REPORTSNUMBER OF ENTITIES SURVEYED - APPROXIMATELY 72,339 NUMBER OF AD HOC REQUESTS ANSWERED - 120 FOR MEMBER AND NON-MEMBER SCHOOLSGMAT VALIDITY STUDY SERVICE IS A CUSTOMER SERVICE THAT ANALYZES A SCHOOL'S ADMISSIONS CRITERIA AND LET THE SCHOOL KNOW EXACTLY HOW VALID THE TEST IS FOR ITS PROGRAM.WAYS TO MEASURE - 2014 VALUESNUMBER OF FULL VALIDITY STUDIES - 22 65063511 1 0 0 1 0 0 0 0 0 0 1 1 0 1 1 1 0 1 0 1 1 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 119 0 141 1 1 1 1 UK HK IN 0 0 0 0 0 0 0 0 X 16 15 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X SAM REIMER 7036689600 11921 FREEDOM DRIVE NO 300 RESTON VA 20190 ALFONS SAUQUET CHAIR 2.00 X X 0 0 0 WILLIAM BOULDING BOARD MEMBER 1.00 X 0 0 0 TOM BUIOCCHI BOARD MEMBER 1.00 X 0 0 0 JIM BRADY BOARD MEMBER 2.00 X 0 0 0 DINA DOMMETT BOARD MEMBER 2.00 X 0 0 0 SEAN FERGUSON BOARD MEMBER 1.00 X 0 0 0 KENNETH FREEMAN BOARD MEMBER 1.00 X 0 0 0 ELLEN GLAZERMAN BOARD MEMBER 1.00 X 0 0 0 J MICHAEL HARDIN BOARD MEMBER 1.00 X 0 0 0 KATE KLEPPER BOARD MEMBER 1.00 X 0 0 0 MARGUERITE BISHOP LANE BOARD MEMBER 1.00 X 0 0 0 XIONGWEN LU BOARD MEMBER 1.00 X 0 0 0 TOBY MCCHESNEY BOARD MEMBER 1.00 X 0 0 0 ROSEMARIE MECCA BOARD MEMBER 1.00 X 0 0 0 CHRISTINE POON BOARD MEMBER 1.00 X 0 0 0 AJIT RANGNEKAR BOARD MEMBER 1.00 X 0 0 0 DONNA RAPACCIOLI BOARD MEMBER 1.00 X 0 0 0 RAY WHITTINGTON BOARD MEMBER 1.00 X 0 0 0 SANGEET CHOWFLA PRESIDENT AND CEO 40.00 X X 485864 0 615741 MARGARET JOBST EXECUTIVE VP, PRODUCTS & SERVICES 40.00 X 597256 0 200369 ROBERT ALIG EXECUTIVE VP, SCHOOL PRODUCTS 40.00 X 148262 0 80744 SHELLI H ARNOLD CHIEF OPERATING OFFICER 40.00 X 488616 0 172761 RAMESH THADANI EXECUTIVE VP, MARKET DEVELOPMENT 40.00 X 490075 0 180228 REIMER SAMUEL CHIEF FINANCIAL OFFICER 40.00 X 455782 0 179649 ROSECRANS ROBERT CHIEF INFORMATION OFFICER 40.00 X 1021798 0 42741 SHERRI SAMPSON GENERAL COUNSEL AND CORPORATE SECRETARY 40.00 X 421227 0 159191 JULIA TYLER EXECUTIVE VP, MARKET DEVELOPMENT 40.00 X 524104 0 62986 LAWRENCE RUDNER VP, RESEARCH & DEVELOPMENT 40.00 X 731773 0 40034 ASHOK SARATHY VP, GMAT OPERATIONS 40.00 X 291054 0 114011 JOSE CARRERAS VP, MARKETING OPERATIONS 40.00 X 413728 0 24833 FANMIN GUO VP, PSYCHOMETRIC RESEARCH 40.00 X 345985 0 110241 ANDREW MARTELLI VP, PRODUCT DEVELOPMENT 40.00 X 318681 0 113082 RICHARD D'AMATO VP, GLOBAL COMMUNICATIONS 40.00 X 299147 0 95835 DAVID MOLDAVSKY VP, MARKETING & COMMUNICATIONS 40.00 X 292258 0 121803 DAVID WILSON FORMER PRESIDENT AND CEO 0.00 X 1176314 0 22124 8501924 0 2336373 76 1 1 0 SLAIT CONSULTING 100 LANDMARK SQUARE VIRGINIA BEACH VA 23452 NETWORK SUPPORT 457094 BIG LENS LLC 1370 PARK GARDEN LANE RESTON VA 20194 MEDIA BUYING 224395 CLIFTONLARSONALLEN LLP 4250 N FAIRFAX DR 1020 ARLINGTON VA 22203 AUDIT AND ACCOUNTING SERVICES 104933 3 TEST OPERATIONS 900099 80721102 80721102 SCHOOL/STUDENT PRODUCTS 900099 7399770 7233077 166693 PROFESSIONAL DEVELOPMENT 900099 675080 675080 88795952 1876827 1876827 69113657 66925593 2188064 2188064 2188064 440873 144851 296022 296022 MISCELLANEOUS REVENUE 900099 54977 54977 54977 93211842 88925281 166693 4119868 866929 866929 207250 207250 261528 261528 8755078 4910580 3844498 1198438 1198438 14365122 7758798 6606324 1151795 738138 413657 1582222 1154945 427277 1213930 761676 452254 173174 30133 143041 523461 523461 719759 719759 26246 26246 386842 386842 2960828 2342733 618095 2753076 2729696 23380 1026877 428115 598762 4251244 2051888 2199356 236611 236611 1963326 481858 1481468 2914699 1913738 1000961 588594 588594 1079609 24709 1054900 286486 286486 TEST OPERATIONS 35679743 35679743 TEST DEVELOPMENT 1024805 1024805 OTHER EMPLOYEE COSTS 480148 212316 267832 STAFF TRAINING 423456 255394 168062 757741 403334 354407 87859017 65063511 22795506 0 11184330 16282323 1412182 1313609 25188 44095 735924 951993 13061915 6570108 7154587 6491807 111210040 108549847 9776885 28435756 29400838 160158007 172811397 13786767 14075810 7871562 8103771 0 4004839 6927942 6290820 28586271 32475240 X 131571736 140336157 131571736 140336157 160158007 172811397 5352825 3411596 0 X X 0 1 X 1 0 X 86711862 90207381 94549462 88087784 89236825 448793314 86711862 90207381 94549462 88087784 89236825 448793314 0 4438512 5232703 5940438 6711667 7437344 29760664 4438512 5232703 5940438 6711667 7437344 29760664 419032650 19630 50987 73167 790354 1876827 2810965 19630 50987 73167 790354 1876827 2810965 167954 3852 2700 12862 54977 242345 86899446 90262220 94625329 88891000 91168629 451846624 0.92740 0.93790 0.00620 0.00360 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLENOUS INCOME - 2010 AMOUNT: $ 167,954. 2011 AMOUNT: $ 1,198. 2012 AMOUNT: $ 2,700. 2013 AMOUNT: $ 12,862. 2014 AMOUNT: $ 54,977. SALE OF OTHER PRODUCTS - 2011 AMOUNT: $ 2,654. 0 0 0 0 0 26246 26246 87924635 87950881 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 133045 96424 138977 26246 394692 250000 250000 250000 250000 1000000 1500000 7058224 1958978 5099246 4152076 3462163 689913 1851615 1148967 702648 6491807 HEDGE FUNDS 3742236 F MUTUAL FUND - MIXED ASSETS 6034649 F 9776885 TEST ITEM DEVELOPMENT COSTS 29306814 OTHER ASSETS 94024 29400838 DEFERRED LEASE OBLIGATIONS 6290820 6290820 X PART X, LINE 2: THE COUNCIL IS EXEMPT FROM THE PAYMENT OF INCOME TAXES ON ITS EXEMPT ACTIVITIES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE COUNCIL IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(2) OF THE IRC. THE COUNCIL FOLLOWS THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS EVALUATED ITS TAX POSITIONS AND DETERMINED THAT ITS TAX POSITIONS ARE MORE-LIKELY-THAN-NOT TO BE SUSTAINED ON EXAMINATION. THE COUNCIL'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE, LOCAL AND FOREIGN AUTHORITIES. THE TAX RETURNS FOR THE YEARS 2011 TO 2013 ARE OPEN FOR EXAMINATION BY FEDERAL, STATE, LOCAL AND FOREIGN AUTHORITIES. 1 EUROPE 1 6 PROGRAM SERVICES CONDUCT EDUCATIONAL RESEARCH, PROVIDE SERVICES, AND FACILITATE INFORMATION EXCHANGE. 2739993 EAST ASIA AND THE PACIFIC (HONG KONG OFFICE) 1 5 PROGRAM SERVICES CONDUCT EDUCATIONAL RESEARCH, PROVIDE SERVICES, AND FACILITATE INFORMATION EXCHANGE. 1550431 EAST ASIA AND THE PACIFIC (INDIA OFFICE) 1 6 PROGRAM SERVICES CONDUCT EDUCATIONAL RESEARCH, PROVIDE SERVICES, AND FACILITATE INFORMATION EXCHANGE. 1101433 NORTH AMERICA 0 0 GRANTS TO ORGANIZATIONS LOCATED IN REGION N/A 10000 SUB-SAHARAN AFRICA 0 0 GRANTS TO ORGANIZATIONS LOCATED IN REGION N/A 7016 EUROPE 0 0 GRANTS TO ORGANIZATIONS LOCATED IN REGION N/A 203012 EAST ASIA AND THE PACIFIC 0 0 GRANTS TO ORGANIZATIONS LOCATED IN REGION N/A 7000 CENTRAL AMERICA AND THE CARIBBEAN 0 0 GRANTS TO INDIVIDUALS IN THE REGION N/A 250 EAST ASIA AND THE PACIFIC 0 0 GRANTS TO INDIVIDUALS IN THE REGION N/A 3000 EUROPE 0 0 GRANTS TO INDIVIDUALS IN THE REGION N/A 5750 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTS TO INDIVIDUALS IN THE REGION N/A 1750 NORTH AMERICA 0 0 GRANTS TO INDIVIDUALS IN THE REGION N/A 3250 RUSSIA & NEIGHBORING STATES 0 0 GRANTS TO INDIVIDUALS IN THE REGION N/A 3000 SOUTH AMERICA 0 0 GRANTS TO INDIVIDUALS IN THE REGION N/A 250 SOUTH ASIA 0 0 GRANTS TO INDIVIDUALS IN THE REGION N/A 4500 SUB-SAHARAN AFRICA 0 0 GRANTS TO INDIVIDUALS IN THE REGION N/A 12750 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS N/A 3742236 3 17 0 0 3 17 5619135 3776486 9395621 NORTH AMERICA SPONSORSHIP 10000 WIRE 0 N/A N/A SUB-SAHARAN AFRICA SPONSORSHIP 7016 WIRE 0 N/A N/A EUROPE SPONSORSHIP 96196 WIRE 0 N/A N/A EUROPE SPONSORSHIP 106816 WIRE 0 N/A N/A EAST ASIA AND THE PACIFIC SPONSORSHIP 7000 WIRE 0 N/A N/A 5 0 FEE WAIVER CENTRAL AMERICA AND THE CARIBBEAN 1 250 CASH DISBURSEMENT 0 N/A N/A FEE WAIVER EAST ASIA AND THE PACIFIC 12 3000 CASH DISBURSEMENT 0 N/A N/A FEE WAIVER EUROPE 23 5750 CASH DISBURSEMENT 0 N/A N/A FEE WAIVER MIDDLE EAST AND NORTH AFRICA 7 1750 CASH DISBURSEMENT 0 N/A N/A FEE WAIVER NORTH AMERICA 13 3250 CASH DISBURSEMENT 0 N/A N/A FEE WAIVER RUSSIA & NEIGHBORING STATES 12 3000 CASH DISBURSEMENT 0 N/A N/A FEE WAIVER SOUTH AMERICA 1 250 CASH DISBURSEMENT 0 N/A N/A FEE WAIVER SOUTH ASIA 18 4500 CASH DISBURSEMENT 0 N/A N/A FEE WAIVER SUB-SAHARAN AFRICA 51 12750 CASH DISBURSEMENT 0 N/A N/A 1 0 1 0 0 0 PART I, LINE 2: GMAC EMPLOYEES WHO ARE DIRECTLY RESPONSIBLE FOR THE BUDGETED FUNDS FROM WHICH GRANTS ARE MADE ARE RESPONSIBLE FOR MONITORING THE USE OF GRANT FUNDS BY THE RECIPIENTS. PART I, LINE 3: THE ORGANIZATION USES THE ACCRUAL BASIS OF ACCOUNTING TO ACCOUNT FOR EXPENDITURES. 1 THE PHD PROJECT ASSOCIATION THREE CHESTNUT RIDGE ROAD MONTVALE NJ 07645 202610773 501(C)(3) 200000 N/A N/A TO HELP AFRICAN-AMERICANS, HISPANIC-AMERICANS AND NATIVE AMERICANS ATTAIN BUSINESS PHDS TO BECOME BUSINESS PROFESSORS AND MENTOR THE NEXT GENERATION. AACSB INTERNATIONAL PO BOX 116201 ATLANTA GA 303686201 436036286 501(C)(3) 155000 N/A N/A PROMOTING GMAC PRODUCTS, SERVICES, AND RESEARCH AND PROVIDING INDUSTRY SUPPORT. BOSTON UNIVERSITY SCHOOL OF MANAGEMENT 595 COMMONWEALTH AVENUE BOSTON MA 02215 042103547 501(C)(3) 75000 N/A N/A TO SPONSOR THE BUSINESS EDUCATION INNOVATION JAM, A MASSIVE ONLINE BRAINSTORM THAT SPARKED IDEAS, CONCEPTS, AND COLLABORATIONS ON HOW TO CLOSE THE GROWING GAP BETWEEN INDUSTRY AND ACADEMIA. TEACH FOR AMERICA 1411 K STREET NW 12TH FLOOR WASHINGTON DC 20005 133541913 501(C)(3) 65000 N/A N/A TO SUPPORT THE MOVEMENT OF LEADERS WHO WORK TO ENSURE THAT KIDS GROWING UP IN POVERTY GET AN EXCELLENT EDUCATION. FORTE FOUNDATION 9600 ESCARPMENT 745 PMB 72 AUSTIN TX 78749 611457145 501(C)(3) 50000 N/A N/A TO SPONSOR UNDERGRADUATE OUTREACH ACTIVITIES: MBALAUNCH, C2B CONFERENCE, VIRTUAL CAMPUS/CAREER GAL ROAD TRIP, FORTE FORUMS/WEBINARS. EXECUTIVE MBA COUNCIL ONE UNIVERSITY DRIVE ASBE ORANGE CA 92866 943095701 501(C)(3) 35000 N/A N/A TO SPONSOR THE MARKETING AND ADMISSIONS PROGRAM - A PROFESSIONAL DEVELOPMENT SYMPOSIA HELD FOR NEW EXEC MBA PROFESSIONALS; TO SPONSOR THE EXEC MBA CONFERENCE. FOUNDATION FOR THE GLOBAL COMPACT 801 SECOND AVENUE 2ND FLOOR NEW YORK NY 10017 161756484 501(C)(3) 25000 N/A N/A TO SUPPORT THE PRIME (PRINCIPLES FOR RESPONSIBLE MANAGEMENT EDUCATION) INITIATIVE WHOSE MISSION IS TO INSPIRE AND CHAMPION RESPONSIBLE MANAGEMENT EDUCATION, RESEARCH AND THOUGHT LEADERSHIP GLOBALLY. WOLF TRAP FOUNDATION FOR THE PERFORMING ARTS 1645 TRAP ROAD VIENNA VA 22182 237011544 501(C)(3) 20000 N/A N/A TO SUPPORT THE WOLF TRAP FOUNDATION INTERNSHIP PROGRAM THROUGH WHICH A DIVERSE MIX OF COLLEGE-AGE STUDENTS RECEIVE MEANINGFUL HANDS-ON EXPERIENCE IN ARTS ADMINISTRATION, EDUCATION, AND TECHNICAL THEATRE. THE CENTRE FOR INFORMATION POLICY LEADERSHIP AT HUNTON & WILLIAMS LLP 2200 PENNSYLVANIA AVE NW WASHINGTON DC 20037 540572269 N/A 25000 N/A N/A TO PARTICIPATE IN THE CENTRE FOR INFORMATION POLICY LEADERSHIP WHICH WORKS WITH BUSINESS LEADERS, REGULATORY AUTHORITIES AND POLICYMAKERS TO FRAME AND ADVANCE PRIVACY AND CYBERSECURITY POLICY, LAW AND PRACTICE. MAKINETWORK LLC 55 LYME ROAD HANOVER NH 03755 464273512 N/A 10000 N/A N/A TO SPONSOR MAKI BUSINESS EDUCATION MEDIA CONFERENCES - THE MAKI NETWORK CONNECTS INTERNATIONAL MEDIA WITH COMMUNICATIONS AND MARKETING DIRECTORS FROM THE WORLD'S LEADING GRADUATE BUSINESS SCHOOLS AND UNIVERSITIES. WYNNE COMMUNICATIONS 1334 PARKVIEW AVENUE SUITE 100 MANHATTAN BEACH CA 90266 954844451 N/A 10000 N/A N/A TO SPONSOR THE BUSINESS ACCESS MEDIA CONFERENCE WHICH BRINGS THE WORLD'S TOP MBA PROGRAMS TO MEET WITH THE TOP FINANCIAL MEDIA. ARIZONA STATE UNIVERSITY GBSSA PO BOX 874906 TEMPE AZ 852874906 951644037 501(C)(3) 10000 N/A N/A PROMOTING GMAC PRODUCTS, SERVICES & RESEARCH AND PROVIDING INDUSTRY SUPPORT. HBCU BUSINESS DEAN'S ROUNDTABLE 2 BENJAMIN F PAYTON DRIVE ANDREW F BRIMMER HALL TUSKEGEE AL 36088 721491905 501(C)(3) 10000 N/A N/A TO SUPPORT HBCU BUSINESS DEAN'S ROUNDTABLE CONFERENCE - THE PURPOSE OF THE HBCU IS TO PROVIDE A FORUM FOR DEANS OF HBCU BUSINESS SCHOOLS TO ADDRESS OPPORTUNITIES AND CHALLENGES ASSOCIATED WITH ENHANCING BUSINESS PROGRAMS AND INITIATIVES. ASSOCIATION OF TEST PUBLISHERS 601 PENNSYLVANIA AVE NW SOUTH BUILDING SUITE 900 WASHINGTON DC 20004 363918100 501(C)(6) 34420 N/A N/A TO PARTICIPATE IN THE ASSOCIATION OF TEST PUBLISHERS (ATP) CONFERENCE - THE MISSION OF THE ATP IS TO PROMOTE AND DEVELOP TESTING AND ASSESSMENT BEST PRACTICES AND TO FACILITATE AN ENVIRONMENT THAT WOULD BENEFIT TEST-TAKERS, BUSINESSES, EDUCATIONAL ORGANIZATIONS, AND SOCIETY IN GENERAL. MANAGEMENT LEADERSHIP FOR TOMORROW 5335 WISCONSIN AVE NW WASHINGTON DC 20015 521795164 501(C)(3) 15000 N/A N/A TO PARTNER WITH THE MANAGEMENT LEADERSHIP FOR TOMORROW (MLT) ON MBA PREP & CAREER PREP - THE MLT EQUIPS HIGH POTENTIAL MINORITIES WITH THE WINNING PLAYBOOK AND PERSONALIZED COACHING THAT ALLOWS THEM TO REACH THEIR FULL LEADERSHIP POTENTIAL AND MAXIMIZE THEIR COMMUNITY IMPACT. THE INFORMATION ACCOUNTABILITY FOUNDATION 1811 RIVER HEIGHTS DR LITTLE ROCK AR 72202 461416947 501(C)(3) 5000 N/A N/A TO SUPPORT THE INFORMATION ACCOUNTABILITY FOUNDATION (IAF) WHICH SUCCESSFULLY WORKS WITH REGULATORY AUTHORITIES, POLICYMAKERS, BUSINESS LEADERS, CIVIL SOCIETY AND OTHER KEY STAKEHOLDERS AROUND THE WORLD TO HELP FRAME AND ADVANCE DATA PROTECTION LAW AND PRACTICE THROUGH ACCOUNTABILITY-BASED INFORMATION GOVERNANCE. ACT PO BOX 4072 IOWA CITY IA 522434072 420841485 501(C)(3) 5000 N/A N/A TO SPONSOR THE CONFERENCE ON TEST SECURITY. IACAT 5601 GREEN VALLEY DR BLOOMINGTON MN 55437 272409911 501(C)(3) 5000 N/A N/A TO SPONSOR THE IACAT CONFERENCE - IACAT IS FOCUSED ON SCIENTIFIC AND EDUCATIONAL ADVOCACY FOR COMPUTERIZED ADAPTIVE TESTING AROUND THE WORLD. 14 4 FEE WAIVER 829 207250 0 N/A N/A PART I, LINE 2: GMAC EMPLOYEES WHO ARE DIRECTLY RESPONSIBLE FOR THE BUDGETED FUNDS FROM WHICH GRANTS ARE MADE ARE RESPONSIBLE FOR MONITORING THE USE OF GRANT FUNDS BY THE RECIPIENTS. X X 1 1 X X X X X 1 0 0 0 0 0 0 0 0 SANGEET CHOWFLA PRESIDENT AND CEO 425000 0 60000 0 864 0 601800 0 13941 0 1101605 0 0 0 MARGARET JOBST EXECUTIVE VP, PRODUCTS & SERVICES 395666 0 201590 0 0 0 177576 0 22793 0 797625 0 0 0 ROBERT ALIG EXECUTIVE VP, SCHOOL PRODUCTS 145000 0 0 0 3262 0 69987 0 10757 0 229006 0 0 0 SHELLI H ARNOLD CHIEF OPERATING OFFICER 323426 0 164710 0 480 0 150258 0 22503 0 661377 0 0 0 RAMESH THADANI EXECUTIVE VP, MARKET DEVELOPMENT 333267 0 153170 0 3638 0 161249 0 18979 0 670303 0 0 0 REIMER SAMUEL CHIEF FINANCIAL OFFICER 306155 0 149627 0 0 0 155380 0 24269 0 635431 0 0 0 ROSECRANS ROBERT CHIEF INFORMATION OFFICER 269306 0 157389 0 595103 0 21667 0 21074 0 1064539 0 0 0 SHERRI SAMPSON GENERAL COUNSEL AND CORPORATE SECRET 281837 0 139390 0 0 0 136616 0 22575 0 580418 0 0 0 JULIA TYLER EXECUTIVE VP, MARKET DEVELOPMENT 151845 0 254659 0 117600 0 12586 0 50400 0 587090 0 0 0 LAWRENCE RUDNER VP, RESEARCH & DEVELOPMENT 210676 0 226386 0 294711 0 21068 0 18966 0 771807 0 0 0 ASHOK SARATHY VP, GMAT OPERATIONS 207119 0 83503 0 432 0 92596 0 21415 0 405065 0 0 0 JOSE CARRERAS VP, MARKETING OPERATIONS 132837 0 154428 0 126463 0 13284 0 11549 0 438561 0 0 0 FANMIN GUO VP, PSYCHOMETRIC RESEARCH 208683 0 134134 0 3168 0 93295 0 16946 0 456226 0 0 0 ANDREW MARTELLI VP, PRODUCT DEVELOPMENT 194157 0 123804 0 720 0 86801 0 26281 0 431763 0 0 0 RICHARD D'AMATO VP, GLOBAL COMMUNICATIONS 185514 0 112529 0 1104 0 74420 0 21415 0 394982 0 0 0 DAVID MOLDAVSKY VP, MARKETING & COMMUNICATIONS 208746 0 83512 0 0 0 96625 0 25178 0 414061 0 0 0 DAVID WILSON FORMER PRESIDENT AND CEO 0 0 535800 0 640514 0 13000 0 9124 0 1198438 0 0 0 PART I, LINE 1A -ACCORDING TO GMAC TRAVEL POLICY FOR VICE PRESIDENTS AND ABOVE, GMAC WILL REIMBURSE FOR COACH-CLASS AIR TRAVEL FOR ONE-WAY FLIGHTS LESS THAN 2.5 HOURS IN DURATION. IF THE FLIGHT IS 2.5 HOURS OR LONGER, GMAC WILL COVER THE COST OF THE NEXT TICKET CLASS. FIRST CLASS TRAVEL IS ALLOWED FOR THE CEO. -THE GROSS PAYMENTS TO THE INDIVIDUAL WERE INSIGNIFICANT AND RELATE TO STAFF ANNIVERSARY RECOGNITIONS AND AWARDS. AS REQUIRED BY TAX LAW, ANY APPROPRIATE AMOUNTS ARE INCLUDED IN THE COMPENSATION OF THE INDIVIDUAL. PART I, LINE 4A ROBERT ROSECRANS, SEVERANCE $582,952 DAVID WILSON, SEVERANCE $582,980 LAWRENCE RUDNER, SEVERANCE $281,813 JOSE CARRERAS, SEVERANCE $99,992 PART II COLUMN (C) INCLUDED IN COLUMN (C) RETIREMENT AND DEFERRED COMPENSATION ARE AMOUNTS ACCRUED AS A BONUS AT DECEMBER 31, 2014. SINCE THE BONUS AMOUNTS ARE TO BE PAID AFTER MARCH 15, 2015, AN ACCRUAL FOR THIS COMPENSATION DEFERRED INTO THE FUTURE HAS BEEN INCLUDED IN COLUMN (C). SANGEET CHOWFLA 225,000 MARGARET JOBST 151,576 ROBERT ALIG 55,487 SHELLI H ARNOLD 124,259 RAMESH THADANI 135,249 SAMUEL REIMER 129,380 SHERRI SAMPSON 118,417 ASHOK SARATHY 71,884 FANMIN GUO 72,427 ANDREW MARTELLI 67,385 RICHARD D'AMATO 55,870 DAVID MOLDAVSKY 75,676 INCLUDED IN THE AMOUNT OF RETIREMENT AND DEFERRED COMPENSATION FOR SANGEET CHOWFLA IS A DEFERRED COMPENSATION INCENTIVE PLAN ACCRUAL OF $90,000 FOR 2013 AND $270,000 FOR 2014. FORM 990, PART III, LINE 3 PEARSON TEST OF ENGLISH: THE CONTRACT WITH PEARSON VUE WAS ENDED ON DECEMBER 5, 2014. FORM 990, PART VI, SECTION A, LINE 6 GRADUATE MANAGEMENT ADMISSION COUNCIL HAS ONE CLASS OF MEMBERS - GRADUATE BUSINESS MANAGEMENT SCHOOLS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT THE DEAN AND REPRESENTATIVE DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THERE IS ONE CLASS OF MEMBER. DECISIONS THAT REQUIRE THEIR APPROVAL ARE AMENDMENTS TO THE ARTICLES OF INCORPORATION AND REVISIONS TO THE BYLAWS. EACH MEMBER HAS EQUAL VOTING RIGHTS. FORM 990, PART VI, SECTION B, LINE 11 THE MEMBERS OF THE BOARD OF DIRECTORS ARE EACH ELECTRONICALLY GIVEN ACCESS TO A COPY OF THE FORM 990 PRIOR TO FILING WITH THE IRS AND ASKED TO REVIEW AND SUBMIT COMMENTS TO GMAC PRIOR TO FILING. VARIOUS GMAC OFFICERS AND STAFF ALSO REVIEWED THE FORM 990 PRIOR TO ITS FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, OFFICER AND KEY EMPLOYEE HAS AN ONGOING OBLIGATION TO DISCLOSE POTENTIAL OR ACTUAL CONFLICTS. FOR DIRECTORS, THE DISINTERESTED MEMBERS OF THE BOARD ARE RESPONSIBLE FOR REVIEWING AND DETERMINING WHETHER A CONFLICT EXISTS AND ANY RESTRICTIONS TO BE PLACED ON THE CONFLICTED DIRECTOR. FOR EMPLOYEES, THE CEO, GENERAL COUNSEL AND THE CHIEF OPERATING OFFICER, AS A GROUP, REVIEW POTENTIAL OR ACTUAL CONFLICTS, DETERMINE WHETHER A CONFLICT EXISTS, AND RECOMMEND ACTION. RESTRICTIONS RANGE FROM RECUSAL TO TERMINATION. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS IS RESPONSIBLE FOR DETERMINING THE COMPENSATION OF THE CEO. THE COMPENSATION COMMITTEE ANNUALLY REVIEWS AND APPROVES GMAC CORPORATE GOALS AND OBJECTIVES, EVALUATES THE CEO'S PERFORMANCE IN LIGHT OF SUCH GOALS AND OBJECTIVES AND DETERMINES COMPENSATION BASED ON THIS EVALUATION AND IN ACCORDANCE WITH ANY APPLICABLE EMPLOYMENT AGREEMENT. THE COMMITTEE RETAINS AN INDEPENDENT COMPENSATION CONSULTANT TO ASSIST IN EVALUATING PERFORMANCE, INCLUDING OBTAINING AN ANNUAL COMPARABILITY ANALYSIS AS APPROPRIATE TO COMPLY WITH THE "REBUTTABLE PRESUMPTION" UNDER THE INTERMEDIATE SANCTIONS RULES OF IRC SECTION 4958. THE COMPENSATION COMMITTEE AND THE CEO ANNUALLY REVIEW THE COMPENSATION DATA FOR ALL OFFICERS. EVERY TWO YEARS A COMPENSATION ANALYSIS IS CONDUCTED FOR ALL EMPLOYEES. THE CEO AND COO REVIEW THE DATA AND DETERMINE APPROPRIATE COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 GMAC MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C: NO CHANGE FROM PRIOR YEAR. FORM 8858, LINE 5: GMAC IS AN U.S. ORGANIZATION THAT OWNS 100% OF THE THREE FOREIGN DISREGARDED ENTITIES (GMAC HONG KONG LIMITED, GMAC INDIA PRIVATE LTD AND GRADUATE MANAGEMENT GLOBAL CONNECTION). GRADUATE MANAGEMENT ADMISSION COUNCIL HONG KONG LIMITED 2601 GOLDEN CENTRE 188 DES VOEUX CENTRAL HK CONDUCT EDUCATIONAL RESEARCH, EXCHANGE INFO AND PROVIDE SVCS HK 1711671 377845 GRADUATE MANAGEMENT ADMISSION COUNCIL GRADUATE MANAGEMENT ADMISSION COUNCIL INDIA PRIVATE LTD STE 303 SUNCITY BUSINESS TOWER GOLF GURGAON IN 980699911 CONDUCT EDUCATIONAL RESEARCH, EXCHANGE INFO AND PROVIDE SVCS IN 904137 342024 GRADUATE MANAGEMENT ADMISSION COUNCIL GRADUATE MANAGEMENT GLOBAL CONNECTION CENTRAL CT 25 SOUTHAMPTON BLG LONDON UK 980701860 CONDUCT EDUCATIONAL RESEARCH, EXCHANGE INFO AND PROVIDE SVCS UK 2816619 1113796 GRADUATE MANAGEMENT ADMISSION COUNCIL