2014-03-26T09:18:40-05:00 2013-09-30 420714325 MCGLADREY LLP 1185 AVENUE OF THE AMERICAS NEW YORK NY 100362602 990 2012-10-01 237270753 AMERICAN ASSOCIATES BEN-GURION UNIVERSITY OF THE NEGEV INC AMER 2126877721 1001 AVENUE OF THE AMERICAS 19TH FL NEW YORK NY 10018 HARRY P GREENWALD 2126877721 2014-03-26 1 MARTIN GREIF P00029738 2123721000 2012 2015-11-30 17:44:51Z DORON KRAKOW 1001 AVENUE OF THE AMERICAS 19TH FL NEW YORK NY 10018 52174206 0 X WWW.AABGU.ORG X 1973 NY AABGU PLAYS A VITAL ROLE IN CREATING A WORLD CLASS UNIVERSITY IN THE ISRAELI DESERT. 67 66 58 150 0 0 25232125 20710583 0 0 6813000 14310227 -128945 -114611 31916180 34906199 16596349 27515455 0 0 4758185 5017063 30000 30000 5096883 2965997 2837801 24350531 35400319 7565649 -494120 206526153 209783936 7819790 11257701 198706363 198526235 AABGU PLAYS A VITAL ROLE IN SUSTAINING DAVID BEN GURION'S VISION, CREATING A WORLD CLASS INSTITUTION OF EDUCATION AND RESEARCH IN THE ISRAELI DESERT, NURTURING THE NEGEV COMMUNITY AND SHARING THE UNIVERSITY'S EXPERTISE LOCALLY AND AROUND THE GLOBE. 0 0 27470812 27470812 SUPPORT FOR BEN-GURION UNIVERSITY THIS YEAR INCLUDED GRANTS FOR ACADEMIC RESEARCH, HONORS PROGRAMS, SCHOLARSHIPS, BUILDINGS (INCLUDING DORMITORIES), EQUIPMENT AND OTHER CAPITAL PROJECTS, PROFESSORIAL CHAIRS, COMMUNITY OUTREACH EFFORTS AND SPECIFIC PROGRAMS AT THE UNIVERSITY'S MEDICAL SCHOOL, BUSINESS SCHOOL, AND INSTITUTES FOR DESERT RESEARCH AND WATER RESEARCH. 412967 44643 AABGU'S OVERSEAS STUDENT PROGRAM RECRUITS STUDENTS FROM THE U.S. TO STUDY AT BEN-GURION UNIVERSITY IN ISRAEL. 166205 THE AABGU ZIN FELLOWS LEADERSHIP DEVELOPMENT PROGRAM IS A TWO-YEAR PROGRAM, INCORPORATING TWO IN-PERSON GATHERINGS IN THE UNITED STATES FOLLOWED BY A TRIP TO ISRAEL. EACH ZIN FELLOWS CLASS CONSISTS OF 15 TO 20 OUTSTANDING INDIVIDUALS, AGES 35 TO 50, CURRENT AND FUTURE COMMUNITY LEADERS FROM ACROSS THE UNITED STATES, WHO ARE INTERESTED IN A NEW AND UNIQUE OPPORTUNITY TO BE ENGAGED IN THE FUTURE OF ISRAEL THROUGH THEIR CONNECTION TO THE NEGEV REGION. 28049984 1 1 0 0 0 1 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 1 0 1 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 30 0 1 58 1 0 1 IS 0 0 0 1 1 0 0 0 0 X 67 66 1 0 0 0 0 0 0 1 1 0 1 0 1 1 1 1 1 1 1 1 0 AK AL AR CA CO CT DC FL GA HI IL KS KY MA MD ME MI MS MN NC ND NJ NH NM NY OH OK OR PA RI SC TN UT VA WA WI WV X X HARRY P GREENWALD 2126877721 1001 AVENUE OF THE AMERICAS 19TH FL NEW YORK NY 10018 X ZVI ALON 1.00 X 0 0 0 ROBERT ARNOW 1.00 X 0 0 0 PAUL ASTOR 1.00 X 0 0 0 ARNOLD BENGIS 1.00 X 0 0 0 RICHARD BERNSTEIN 1.00 X 0 0 0 JACK BERSHAD 1.00 X 0 0 0 MARTIN BLACKMAN 1.00 X 0 0 0 J ROBERT BIRNHAK 1.00 X 0 0 0 SYLVIA BRODSKY 1.00 X 0 0 0 JACOB DAYAN 1.00 X X 0 0 0 FRANK DYE 1.00 X 0 0 0 ROCHELLE ETINGIN 1.00 X 0 0 0 ANTHONY FELZEN 1.00 X 0 0 0 STEVE FINKELMAN 1.00 X 0 0 0 STEWART FLINK 1.00 X 0 0 0 RUTH FLINKMAN-MARANDY 1.00 X X 0 0 0 STEPHEN FRIEDMAN 1.00 X 0 0 0 DODI FROMSON 1.00 X 0 0 0 LIS GAINES 1.00 X 0 0 0 STANLEY GINSBURG 1.00 X X 0 0 0 DORIAN GOLDMAN 1.00 X 0 0 0 LLOYD GOLDMAN 5.00 X X 0 0 0 PAUL GOODMAN 1.00 X 0 0 0 ALEXANDER GOREN 1.00 X 0 0 0 JASON GOTTLIEB 1.00 X 0 0 0 BEN GUEFEN 1.00 X X 0 0 0 SAMUEL HALPERIN 1.00 X 0 0 0 WILLIAM HANDY 1.00 X 0 0 0 ARTHUR HESSEL 1.00 X X 0 0 0 EHUD HOUMINER 1.00 X 0 0 0 SONYA HURST 1.00 X 0 0 0 IRA INGERMAN 5.00 X X 0 0 0 MAX JAVIT 1.00 X 0 0 0 WILLIAM JOEL 1.00 X X 0 0 0 EDWARD KAPLAN 1.00 X 0 0 0 LEON KAPLAN 1.00 X 0 0 0 SAM KATZ 1.00 X 0 0 0 DONNA LAM 1.00 X 0 0 0 MARIBETH LERNER 1.00 X 0 0 0 MICHELE LEVIN 1.00 X 0 0 0 NAT LEVY 1.00 X 0 0 0 JAN LIFF 1.00 X 0 0 0 SHELDON LONDON 1.00 X 0 0 0 ROBERT MANN 1.00 X 0 0 0 ELLEN S MARCUS 1.00 X 0 0 0 JOANNE MOORE 1.00 X 0 0 0 MICHAEL RAHAV 1.00 X 0 0 0 JOEL REINSTEIN 1.00 X 0 0 0 JOSEPH ROSE 1.00 X X 0 0 0 LENNY ROTH 1.00 X 0 0 0 CAROL SAAL 1.00 X 0 0 0 LITE SABIN 1.00 X 0 0 0 RUBIN SALANT 1.00 X 0 0 0 MAX SCHECHNER 1.00 X X 0 0 0 ERNEST SCHELLER 1.00 X X 0 0 0 JACOB SHOCHAT 1.00 X 0 0 0 HOWARD SHRUT 1.00 X 0 0 0 MURRAY SHUSTERMAN 1.00 X 0 0 0 FREDERICK SIEGMUND 1.00 X X 91416 0 0 JESSICA SILLINS 1.00 X X 0 0 0 ERNEST SIMON 1.00 X 0 0 0 HARRIET SOFFA 1.00 X 0 0 0 MICHAEL SONNENFELDT 1.00 X 0 0 0 ALTON SUTNICK 1.00 X X 0 0 0 CHARLES TEMEL 1.00 X 0 0 0 IRA WAGNER 1.00 X 0 0 0 MARTIN WEINBERG 1.00 X 0 0 0 AILEEN WHITMAN 1.00 X 0 0 0 WAYNE WOODMAN 1.00 X X 0 0 0 TONI YOUNG 1.00 X 0 0 0 MONA ZEEHANDELAAR 1.00 X 0 0 0 FRED ZEIDMAN 1.00 X 0 0 0 ROY ZUCKERBERG 1.00 X 0 0 0 DORON KRAKOW 40.00 X 335428 0 31769 HARRY P GREENWALD 40.00 X 227157 0 51676 RONNI MORDECHAI-STRONGIN 40.00 X 134102 0 45300 PHILIP GOMPERTS 40.00 X 244185 0 41859 KEVIN LEOPOLD 40.00 X 222550 0 51626 CLAIRE WINICK 40.00 X 155798 0 33781 DAPHNA NOILY 40.00 X 151431 0 32646 ANDREA MEISELES 40.00 X 126939 0 18738 JAY LEIPZIG 40.00 X 125847 0 2405 KEREN WARANACH 40.00 X 113332 0 43560 DEBORAH BERGERON 40.00 X 113254 0 32273 GABRIEL MOST 40.00 X 112406 0 17741 2153845 0 403374 12 0 1 0 AB DATA LTD 600 AB DATA DRIVE MILWAUKEE WI 53217 DIRECT MAIL SERVICES 260222 MAR X MYLES INC 875 AVENUE OF THE AMERICAS SUITE 1 NEW YORK NY 10001 PRINTING 131200 2 100817 20609766 1507341 20710583 13316312 13316312 18059320 639 17065405 639 993915 0 993915 993915 87352 100817 201963 -114611 -114611 34906199 0 0 14195616 X 44643 44643 27470812 27470812 1876499 85510 428321 1362668 2396572 116362 466928 1813282 88927 3589 19370 65968 415253 16759 90452 308042 239812 9677 52237 177898 103278 103278 117750 117750 30000 30000 151183 151183 58008 7870 50138 88593 4828 13972 69793 626607 36396 122718 467493 73459 18052 49816 5591 533041 298506 234535 212419 78135 10341 123943 397079 146059 19331 231689 88400 88400 52997 52997 DIRECT MAIL CAMPAIGN 199208 199208 MISCELLANEOUS 44455 44110 345 TEMPORARY HELP 37099 9557 25998 1544 E-PHILANTHROPY 30375 30375 23850 1735 17231 4884 35400319 28049984 2253452 5096883 155053 113145 6412335 6107039 32368935 26025333 77677 112574 834443 255611 615471 578832 30729775 29880548 130899892 141419353 5267015 5547112 206526153 209783936 628547 332593 7191243 10925108 7819790 11257701 X 1555764 -127550 59354679 57763619 137795920 140890166 198706363 198526235 206526153 209783936 X -494120 1221806 -907814 X 0 1 X 1 0 X 20746421 20797850 38343965 25232125 20710583 125830944 20746421 20797850 38343965 25232125 20710583 125830944 17075675 108755269 2040535 6254959 4111280 7097837 13316312 32820923 99382 140515 201930 114220 87352 643399 159295266 0.68270 0.67870 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SPECIAL EVENT GROSS INCOME - 2008 AMOUNT: $ 99,382. 2009 AMOUNT: $ 140,515. 2010 AMOUNT: $ 201,930. 2011 AMOUNT: $ 114,220. 2012 AMOUNT: $ 87,352. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 102035 8731 335039 1 1 821706 495351 X 0 142405172 5153922 14021180 4973046 64777 156542451 136103741 2765769 8265603 4729941 142405172 132097905 5178283 3047822 4222879 -2610 136103741 126336941 3082499 7056902 4378437 132097905 123969826 4113943 1719024 3465852 126336941 0.00000 0.87160 0.12840 0 0 563787 79982 483805 182096 140913 41183 88560 34716 53844 578832 INVESTMENTS - LIMITED PARTNERSHIPS 6745859 F INVESTMENTS - FOREIGN CORPORATIONS 1193750 F INVESTMENTS HELD IN ISRAEL 133479744 F 141419353 TUITION ADVANCES FROM OVERSEAS STUDENT PROGRAM 47238 OBLIGATIONS UNDER SPLIT-INTEREST AGREEMENTS 6723225 DUE TO BEN-GURION UNIVERSITY - GRANTS PAYABLE 3634749 DEFERRED LEASE OBLIGATION AND INCENTIVE 519896 10925108 X 35220191 1221806 -907814 313992 34906199 0 34906199 35400319 0 35400319 0 35400319 PART III, LINE 4: COLLECTION OF SEVERAL THOUSAND BOOKS AND OTHER PUBLICATIONS ON HERPETOLOGY DONATED MANY YEARS AGO TO AABGU; THEY ARE ON LONG TERM LOAN AT NO CHARGE TO BEN-GURION UNIVERSITY AND THE BOOK VALUE IS $821,706. AN ART DEALER DONATED OVER 100 PAINTINGS VALUED AT $509,540 IN 2008. SINCE THEN AABGU HAS BEEN SELLING THESE PAINTINGS. THE BOOK VALUE OF UNSOLD PAINTINGS IS $401,152. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: PART V, LINE 4: TO PROVIDE SCHOLARSHIPS AND FELLOWSHIPS FOR STUDENTS AT BEN-GURION UNIVERSITY; TO SUPPORT RESEARCH IN A VARIETY OF ACADEMIC FIELDS AT BEN-GURION UNIVERSITY; TO SUPPORT THE MEDICAL SCHOOL, BUSINESS SCHOOL, DESERT STUDIES PROGRAMS AND OTHER POST GRADUATE PROGRAMS AT BEN-GURION UNIVERSITY. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: AABGU QUALIFIES AS A TAX-EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE "IRC"), AND IS A PUBLICLY SUPPORTED CHARITABLE ORGANIZATION AS DESCRIBED IN SECTION 509(A)(1) OF THE IRC. AABGU IS NOT CLASSIFIED AS A PRIVATE FOUNDATION, AND IS SUBJECT TO UNRELATED BUSINESS INCOME TAX ("UBIT"), IF APPLICABLE. FOR THE YEARS ENDED SEPTEMBER 30, 2013 AND 2012, AABGU DID NOT OWE ANY UBIT. MANAGEMENT HAS EVALUATED AABGU'S TAX POSITIONS AND CONCLUDED THAT AABGU HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. WITH FEW EXCEPTIONS, AABGU IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR FISCAL YEARS BEFORE 2010, WHICH IS THE STANDARD STATUTE OF LIMITATIONS LOOK-BACK PERIOD. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -949,363. BAD DEBT RECOVERIES 41,549. 1 MIDDLE EAST AND NORTH AFRICA HEALTH INSURANCE 4835 MIDDLE EAST AND NORTH AFRICA PRINTING 16162 MIDDLE EAST AND NORTH AFRICA GIFTS FOR DONORS, OTHER PARTICIPANTS 7536 MIDDLE EAST AND NORTH AFRICA RENTAL CARS, AIR FARES AND LOCAL TRANSPORTATION 10709 MIDDLE EAST AND NORTH AFRICA LODGING 11001 MIDDLE EAST AND NORTH AFRICA - MEALS 2427 MIDDLE EAST AND NORTH AFRICA MEETING EXPENSES 167182 MIDDLE EAST AND NORTH AFRICA 0 0 PUBLICATION SUBSCRIPTIONS 910 MIDDLE EAST AND NORTH AFRICA 0 0 AUDIT FEES 25000 MIDDLE EAST AND NORTH AFRICA 0 0 OTHER TRAVEL RELATED EXPENSES 1756 EAST ASIA AND THE PACIFIC 0 0 GAS 177 EAST ASIA AND THE PACIFIC 0 0 RENTAL CARS, AIR FARES AND LOCAL TRANSPORTATION 6670 EAST ASIA AND THE PACIFIC 0 0 LODGING 273 EAST ASIA AND THE PACIFIC 0 0 MEALS 114 EAST ASIA AND THE PACIFIC 0 0 MEETINGS 3142 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 1193750 MIDDLE EAST AND NORTH AFRICA 0 0 INVESTMENTS 133479744 0 0 0 0 0 0 220762 134710626 134931388 MIDDLE EAST AND NORTH AFRICA - ACADEMIC CHAIRS 469272 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA - ACADEMIC PRIZES 32479 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA - ACADEMIC RESEARCH 5876824 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA - BUSINESS SCHOOL 160000 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA - CAPITAL PROJECTS 1133000 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA - COMMUNITY OUTREACH 570455 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA - DESERT STUDIES 1563226 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA - LIBRARY SUPPORT 30901 WIRE TRANSFER 18667 BOOKS APPRAISAL MIDDLE EAST AND NORTH AFRICA - MEDICAL SCHOOL AND HEALTH SERVICES 470225 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA - SCHOLARSHIPS 16896382 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA - UNIVERSITY OPERATIONS 249381 WIRE TRANSFER BOOK 1 0 0 0 1 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: AABGU RETAINS AN ACCOUNTING FIRM IN ISRAEL TO AUDIT THE UTILIZATION OF FUNDS GRANTED TO BEN-GURION UNIVERSITY (BGU). THIS ACCOUNTING FIRM ANNUALLY RECONCILES ALL GRANTS BY CATEGORY OF USE, PERFORMS TESTING TO SEE IF GRANTED FUNDS ARE APPLIED PROPERLY AND BIANNUALLY PROVIDES AABGU WITH A FULL AUDIT REPORT WITH THE RESULTS OF THE RECONCILIATION AND TESTING PROCEDURES. IN ADDITION FOR MAJOR GRANTS AABGU REQUESTS ANNUAL REPORTS FROM BGU ON HOW FUNDS WERE USED THAT YEAR. IN A FEW CASES AABGU FORMS OVERSIGHT COMMITTEES COMPOSED OF SOME MEMBERS OF ITS BOARD TO TRACK THE PROGRESS OF PROJECTS FUNDED BY AABGU GRANTS. SCHEDULE F, PART II: AABGU CAREFULLY WORKS WITH GRANTEES TO MAKE SURE THEY UNDERSTAND HOW GRANTS ARE TO BE USED. IN ADDITION, AABGU ENGAGES A CERTIFIED PUBLIC ACCOUNTING FIRM IN ISRAEL TO PERFORM A BIANNUAL UTILIZATION AUDIT TO DETERMINE THAT GRANTS ARE USED FOR INTENDED PURPOSES. X X X X X 1 AB DATA LTD 600 AB DATA DRIVE MILWAUKEE WI 53217 DIRECT MAIL SOLICITATIONS 1 247427 30000 217427 247427 30000 217427 AK AL AR CA CO CT DC FL GA HI IL KS KY MA MD ME MI MS MN NC ND NJ NH NM NY OH OK OR PA RI SC TN UT VA WA WI WV LUNCHEON 96150 76900 19250 924 9100 56858 DINNER 56167 23917 32250 935 6073 61970 2 35852 35852 5000 61103 188169 100817 87352 1859 20173 179931 201963 -114611 1 SCHOLARSHIPS 12 44643 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: AABGU HAS A PROCEDURE WHERE STUDENTS HAVE TO APPLY FOR SCHOLARSHIPS. AABGU STAFF REVIEW THE APPLICATIONS AND MAKE RECOMMENDATIONS. THE RECOMMENDATIONS ARE REVIEWED BY A COMMITTEE AND SCHOLARSHIPS ARE AWARDED. IN MOST CASES THE SCHOLARSHIP AWARDS ARE NOT GIVEN DIRECTLY TO THE STUDENTS, THE CASH IS SENT TO A BANK ACCOUNT BGU MAINTAINS IN THE U.S. WITH A NOTE TO BGU EXPLAINING WHAT AMOUNTS HAVE BEEN AWARDED TO WHICH STUDENTS. FULL SCHOLARSHIPS ARE NEVER AWARDED, ONLY PARTIAL SCHOLARSHIPS. AABGU MAKES SURE THAT STUDENTS HAVE IN FACT ENROLLED IN THE PROGRAM AND PAID THEIR SHARE OF TUITION BEFORE SCHOLARSHIPS ARE AWARDED. IN A FEW CASES SCHOLARSHIP MONIES ARE DISBURSED DIRECTLY TO THE STUDENTS. X X X X 0 0 0 0 0 0 0 1 0 DORON KRAKOW 335428 0 0 0 0 0 30000 0 1769 0 367197 0 0 0 HARRY P GREENWALD 212157 0 15000 0 0 0 16462 0 35214 0 278833 0 0 0 RONNI MORDECHAI-STRONGIN 134102 0 0 0 0 0 9936 0 35364 0 179402 0 0 0 PHILIP GOMPERTS 244185 0 0 0 0 0 17428 0 24431 0 286044 0 0 0 KEVIN LEOPOLD 222550 0 0 0 0 0 16100 0 35526 0 274176 0 0 0 CLAIRE WINICK 155798 0 0 0 0 0 10979 0 22802 0 189579 0 0 0 DAPHNA NOILY 151431 0 0 0 0 0 10917 0 21729 0 184077 0 0 0 KEREN WARANACH 113332 0 0 0 0 0 9250 0 34310 0 156892 0 0 0 PART I, LINE 7 AABGU INCLUDES A MERIT POOL IN ITS ANNUAL BUDGET. IN CALENDAR 2012 THE FOLLOWING EMPLOYEE RECEIVED ONE TIME BONUSES IN THE AMOUNT SHOWN - IN EACH CASE FOR OUTSTANDING PERFORMANCE: HARRY GREENWALD - $15,000 X 18311 APPRAISAL & USED PRICE X 33 1486070 FMV X CAMERA 1 360 FMV X OTHER 2 2600 FMV 0 0 1 THIRD PARTY USE: PART I, LINE 32B: A DONOR GAVE AABGU NEARLY A HUNDRED PAINTINGS WHICH HAVE BEEN CONSIGNED TO AN ART DEALER TO SELL OVER TIME AS MARKET CONDITIONS PERMIT. FORM 990, PART VI, SECTION A, LINE 2 1. LLOYD GOLDMAN, DORIAN GOLDMAN AND MICHAEL SONNENFELDT, BOARD MEMBERS, HAVE FAMILY RELATIONSHIPS. 2. WAYNE WOODMAN AND ERNEST SCHELLER, BOARD MEMBERS, HAVE FAMILY RELATIONSHIPS. 3. MAX SCHECHNER AND HOWARD SHRUT, BOARD MEMBERS, HAVE FAMILY RELATIONSHIPS. FORM 990, PART VI, SECTION B, LINE 10B AABGU HAS REGIONAL ADVISORY BOARDS IN SOME PARTS OF THE COUNTRY WHERE IT HAS SIGNIFICANT NUMBERS OF SUPPORTERS. THE COMPLIANCE OF REGIONAL ADVISORY BOARDS WITH POLICIES AND PROCEDURES OF THE NATIONAL ORGANIZATION IS ASSURED IN TWO WAYS: 1. REGIONAL ADVISORY BOARDS ARE GUIDED BY AABGU'S PROFESSIONAL DEVELOPMENT STAFF. 2. REGIONAL ADVISORY BOARDS INCLUDE ONE OR MORE MEMBERS OF AABGU'S NATIONAL BOARD (WHICH IS AABGU'S GOVERNING BODY). FORM 990, PART VI, SECTION B, LINE 11 THE REVIEW PROCESS FOR AABGU'S DRAFT 990 (BEFORE FILING) IS THAT THE BOARD'S AUDIT COMMITTEE REVIEWS THE DOCUMENT IN ITS ENTIRETY AND THE 990 IS NOT FILED UNTIL THE AUDIT COMMITTEE IS SATISFIED THAT IT IS IN ORDER. AFTER THE AUDIT COMMITTEE REVIEWS THE DRAFT 990 IT IS POSTED TO THE BOARD OF DIRECTORS SECTION OF THE AABGU WEBSITE AND BOARD MEMBERS ARE NOTIFIED IT WILL BE FILED A WEEK LATER. FORM 990, PART VI, SECTION B, LINE 12C PROCEDURES FOR AABGU'S CONFLICT OF INTEREST POLICY ARE AS FOLLOWS: 1. PRIOR TO THE BOARD'S ANNUAL MEETING EACH YEAR CONFLICT OF INTEREST DISCLOSURE FORMS ARE DISTRIBUTED TO BOARD MEMBERS AND KEY EMPLOYEES. 2. COMPLETED FORMS ARE COLLECTED AT THE ANNUAL MEETING. 3. THE PROFESSIONAL STAFF FOLLOWS UP WITH ANY BOARD MEMBERS OR KEY EMPLOYEES WHO DID NOT PROVIDE A COMPLETED FORM AT THE ANNUAL MEETING TO OBTAIN A COMPLETED CONFLICT OF INTEREST DISCLOSURE FORM. FORM 990, PART VI, SECTION B, LINE 15 AABGU HAS A COMPENSATION COMMITTEE. AABGU'S BY-LAWS PROVIDE: THE COMPENSATION COMMITTEE SHALL BE RESPONSIBLE FOR MAKING COMPENSATION RECOMMENDATIONS FOR ALL TOP EXECUTIVES, INCLUDING THE EXECUTIVE VICE PRESIDENT. IT SHALL PRESCRIBE POLICY STANDARDS WITH RESPECT TO PERFORMANCE, ESTABLISH CRITERIA FOR SUPPLEMENTAL BENEFITS AND PERQUISITES, ALL RELATIVE TO MARKET COMPETITIVENESS. THE RECOMMENDATIONS SHALL BE MADE AVAILABLE TO THE EXECUTIVE COMMITTEE FOR APPROVAL. THE CFO ANNUALLY PREPARES AN ANALYSIS OF THE COMPENSATION OF THE SENIOR OFFICERS OF THE OTHER "FRIENDS OF ISRAELI UNIVERSITIES" ORGANIZATIONS BASED ON THE MOST RECENTLY AVAILABLE 990S. THIS MATERIAL IS PROVIDED TO THE COMPENSATION COMMITTEE IN ADVANCE OF ANY DELIBERATIONS WITH REGARD TO THE COMPENSATION OF SENIOR OFFICERS. FORM 990, PART VI, SECTION C, LINE 19 AABGU MAKES ITS AUDITED FINANCIAL STATEMENTS AND KEY GOVERNANCE DOCUMENTS AND POLICIES AVAILABLE UPON REQUEST. AABGU POSTS A COPY OF THE 990 AND ITS AUDITED FINANCIAL STATEMENTS TO ITS WEBSITE. REPORTABLE COMPENSATION FORM 990, PART VII, SECTION A THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN PART VII, COLUMN F AND NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. TOTAL OFFICE EXPENSES FORM 990, PART IX, LINE 13 OFFICE SUPPLIES AND EXPENSES 49,060 TELECOMMUNICATIONS 69,658 DUES AND SUBSCRIPTIONS 7,096 EQUIPMENT RENTAL 22,537 PRINTING, PUBLICITY, POSTAGE & SHIPPING 478,256 TOTAL OFFICE EXPENSES 626,607 CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -949,363. BAD DEBT RECOVERIES 41,549.