2013-04-29T15:14:32-05:00 2012-09-30 420714325 MCGLADREY LLP 1185 AVENUE OF THE AMERICAS NEW YORK NY 100362602 990 2011-10-01 237270753 AMERICAN ASSOCIATES BEN-GURION UNIVERSITY OF THE NEGEV INC AMER 2126877721 1001 AVENUE OF THE AMERICAS 19TH FLOOR NEW YORK NY 10018 HARRY P GREENWALD 2126877721 2013-04-29 1 MARTIN GREIF P00029738 2123721000 2011 2016-02-25 16:41:14Z X DORON KRAKOW 1001 AVENUE OF THE AMERICAS 19TH FLOOR NEW YORK NY 10018 53430887 0 X WWW.AABGU.ORG X 1973 NY 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. 68 67 55 150 0 0 38343965 25232125 0 0 4563168 6813000 -69718 -128945 42837415 31916180 14290863 16596349 0 0 4606968 4758185 30000 30000 4750967 2831089 2965997 21758920 24350531 21078495 7565649 194994354 206526153 6808357 7819790 188185997 198706363 X 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. 1 0 16596349 16596349 SUPPORT FOR BEN-GURION UNIVERSITY THIS YEAR INCLUDED GRANTS FOR ACADEMIC RESEARCH, HONORS PROGRAMS, SCHOLARSHIPS, BUILDINGS, LABORATORIES, EQUIPMENT AND OTHER CAPITAL PROJECTS; PROFESSORIAL CHAIRS, COMMUNITY OUTREACH EFFORTS AND SPECIFIC PROGRAMS AT THE UNIVERSITY'S MEDICAL SCHOOL, BUSINESS SCHOOL, INSTITUTES FOR DESERT RESEARCH AND WATER RESEARCH. 407078 AABGU RUNS THE OVERSEAS STUDENT PROGRAM TO RECRUIT STUDENTS TO STUDY AT BEN GURION UNIVERSITY IN ISRAEL. 39845 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. 17043272 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 0 1 28 0 1 55 1 0 1 IS 0 0 0 1 1 0 0 0 0 X 68 67 1 0 1 0 0 0 0 1 1 0 1 0 1 1 1 1 1 1 1 1 0 AK AL AR AZ 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 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 J ROBERT BIRNHAK 1.00 X 0 0 0 MARTIN BLACKMAN 1.00 X 0 0 0 STEPHEN BRESLAUER 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 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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 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 94950 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 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 MICHAEL ZEIGER 1.00 X 0 0 0 ROY ZUCKERBERG 1.00 X 0 0 0 DORON KRAKOW 40.00 X 307767 0 16497 HARRY P GREENWALD 40.00 X 203788 0 48798 RONNI MORDECHAI-STRONGIN 40.00 X 128507 0 42572 PHILIP GOMPERTS 40.00 X 237399 0 39595 KEVIN LEOPOLD 40.00 X 193775 0 45202 CLAIRE WINICK 40.00 X 153100 0 32369 DAPHNA NOILY 40.00 X 149591 0 33624 JOSEPH COFIELD 40.00 X 127272 0 18702 ANDREA MEISELES 40.00 X 126949 0 17825 DEBORAH BERGERON 40.00 X 110058 0 31652 GABRIEL MOST 40.00 X 106648 0 33154 1939804 0 359990 11 0 1 0 PRESSLEY & PRESSLEY PA 222 LAKEVIEW AVENUE SUITE 910 WEEST PALM BEACH FL 33401 LEGAL SERVICE 409000 AB DATA LTD 600 AB DATA DRIVE MILWAUKEE WI 53217 DIRECT MAIL SERVICES 260222 LEIPZIG CONSULTING LLC 53 SPEIR DRIVE SOUTH ORANGE NJ 07079 FUND RAISING CONSULTING 113205 AMPLIFY PUBLIC AFFAIRS 1750 K STREET NW WASHINGTON DC 20006 WEB DEVELOPMENT 112103 MCGLADREY LLP 331 WEST 3RD STREET SUITE 200 DAVENPORT IA 52801 ACCOUNTING SERVICE 103352 5 152683 25079442 662640 25232125 7097837 7097837 20963565 23140 21248402 23140 -284837 0 -284837 -284837 114220 152683 243165 -128945 -128945 31916180 0 0 6684055 X 66644 66644 16529705 16529705 1637704 83398 395027 1159279 2377791 132912 459346 1785533 102513 4364 21516 76633 415892 17705 87290 310897 224285 9548 47074 167663 148007 148007 115480 115480 30000 30000 116707 116707 85583 57538 28045 57945 5055 8387 44503 635951 49523 129567 456861 60696 14037 44676 1983 617786 24975 353464 239347 270570 45185 28859 196526 339046 56620 36162 246264 64730 64730 47684 47684 DIRECT MAIL CAMPAIGN 248810 248810 E-PHILANTHROPY 66259 66259 MISCELLANEOUS 58620 429 57599 592 CLEANING 20364 1278 15245 3841 11759 1894 6865 3000 24350531 17043272 2556292 4750967 106841 155053 21438248 6412335 25839245 32368935 39057 77677 799297 183826 28016 615471 18550000 30729775 123870441 130899892 5122506 5267015 194994354 206526153 397514 628547 6410843 7191243 6808357 7819790 X 967079 1555764 51266076 59354679 135952842 137795920 188185997 198706363 194994354 206526153 X 7565649 2954717 X 0 1 1 X 0 X 33227001 20746421 20797850 38343965 25232125 138347362 33227001 20746421 20797850 38343965 25232125 138347362 25693441 112653921 7408993 2040535 6254959 4111280 7097837 26913604 163310 99382 140515 201930 114220 719357 165980323 0.67870 0.63650 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: SPECIAL EVENT GROSS INCOME RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 102041 3000 215533 1 1 821706 495990 X 0 136103741 2765769 8265603 4729941 142405172 132097905 5178283 3047822 4222879 -2610 136103741 126336941 3082499 7056902 4378437 132097905 123969826 4113943 1719024 3465852 126336941 0.00000 0.92200 0.07800 0 0 531804 24760 507044 178300 136096 42204 89193 22970 66223 615471 INVESTMENTS - LIMITED PARTNERSHIPS 5987932 F INVESTMENTS - FOREIGN CORPORATIONS 1724397 F INVESTMENTS HELD IN ISRAEL 123187563 F 130899892 TUITION ADVANCES FROM OVERSEAS STUDENT PROGRAM 44406 OBLIGATIONS UNDER SPLIT-INTEREST AGREEMENTS 5749565 DUE TO BEN-GURION UNIVERSITY - GRANTS PAYABLE 854041 DEFERRED LEASE OBLIGATION AND INCENTIVE 543231 7191243 31916180 24350531 7565649 3409792 -455075 2954717 10520366 35039029 3409792 168132 -455075 3122849 31916180 0 31916180 24518663 168132 168132 24350531 0 24350531 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 $401,790. 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. PART XI, LINE 8 - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -417,362. BAD DEBT EXPENSE INCLUDED IN INCOME ON AUDITED FINANCIAL STATEMENT -37,713. TOTAL TO SCHEDULE D, PART XI, LINE 8: -455,075. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -417,362. BAD DEBT EXPENSE INCLUDED IN INCOME ON AUDITED FINANCIAL STATEMENT -37,713. 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 SUBJECT TO UNRELATED BUSINESS INCOME TAX ("UBIT"), IF APPLICABLE. FOR THE YEARS ENDED SEPTEMBER 30, 2012 AND 2011, 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 2009, WHICH IS THE STANDARD STATUTE OF LIMITATIONS LOOK-BACK PERIOD. 1 MIDDLE EAST AND NORTH AFRICA 0 0 ACCOUNTING SERVICES TO AUDIT GRANTS 25000 MIDDLE EAST AND NORTH AFRICA 0 0 WORK OF ART 8500 MIDDLE EAST AND NORTH AFRICA 0 0 MEETINGS INCLUDING TRAVEL, HOTEL AND OTHER EXPENSES IN ISRAEL 164180 CENTRAL AMERICA AND THE CARIBBEAN 0 0 MISSIONS FOR DONORS AND BOARD MEETING 38568 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 1724397 MIDDLE EAST AND NORTH AFRICA 0 0 INVESTMENTS 123187563 0 0 0 0 0 0 125148208 0 125148208 X MIDDLE EAST AND NORTH AFRICA - ACADEMIC CHAIRS 347236 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA - ACADEMIC PRIZES 150182 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA - ACADEMIC RESEARCH 3913952 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA - BUSINESS SCHOOL 125180 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA - CAPITAL PROJECTS 1790256 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA - COMMUNITY OUTREACH 741340 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA - DESERT STUDIES 1315840 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA - LIBRARY SUPPORT 205755 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA MEDICAL SCHOOL AND HEALTH SERVICES 1827247 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA SCHOLARSHIPS 5858832 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA UNIVERSITY OPERATIONS 223835 WIRE TRANSFER BOOK MIDDLE EAST AND NORTH AFRICA STATUE 30050 DONATED STATUE COST OF CASTING MIDDLE EAST AND NORTH AFRICA SCHOLARSHIPS 148132 DONATED TUITION AND HOUSING DONATING INSTITUTIONS VALUED 1 0 1 0 0 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 USE 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. THESE REPORTS ARE THEN PROVIDED TO THE DONORS FOR THESE MAJOR PROJECTS. IN A FEW CASES AABGU FORMS OVERSIGHT COMMITTEES COMPOSED OF SOME MEMBERS OF ITS BOARD TO TRACK THE PROGRESS OF PROGRAMS 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 286371 30000 256371 286371 30000 256371 AK AL AR AZ 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 COCKTAIL RECEPTION - NY 128750 78150 50600 20000 109407 MA DINNER 78050 51300 26750 19490 5175 36651 2 60103 23233 36870 2475 49967 266903 152683 114220 21965 25175 196025 243165 -128945 1 SCHOLARSHIPS 10 66644 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 THE SCHOLARSHIP. 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, SO AABGU MAKES SURE THE 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 307767 0 0 0 0 0 15000 0 1497 0 324264 0 0 0 HARRY P GREENWALD 203788 0 0 0 0 0 17248 0 31550 0 252586 0 0 0 RONNI MORDECHAI-STRONGIN 128507 0 0 0 0 0 11044 0 31528 0 171079 0 0 0 PHILIP GOMPERTS 237399 0 0 0 0 0 16914 0 22681 0 276994 0 0 0 KEVIN LEOPOLD 193775 0 0 0 0 0 13477 0 31725 0 238977 0 0 0 CLAIRE WINICK 153100 0 0 0 0 0 10709 0 21660 0 185469 0 0 0 DAPHNA NOILY 149591 0 0 0 0 0 10755 0 22869 0 183215 0 0 0 PART I, LINE 7 AABGU INCLUDES A MERIT POOL IN ITS ANNUAL BUDGET. IN CALENDAR 2011 THE FOLLOWING EMPLOYEE RECEIVED ONE TIME BONUSES IN THE AMOUNT SHOWN - IN EACH CASE FOR OUTSTANDING PERFORMANCE: ANDREA MEISELES - $15,000 X 22 662640 FMV 0 0 1 THIRD PARTY USE: PART I, LINE 32B: IN 2008 A DONOR GAVE AABGU NEARLY 100 PAINTINGS VALUED AT $509,000. THESE PAINTINGS HAVE BEEN GIVEN TO ART DEALER ON CONSIGNMENT TO SELL. TO DATE A LITTLE MORE THAN $100,000 OF THE PAINTINGS HAVE BEEN SOLD. THE DEALER CONTINUES TO SELL THE BALANCE AS MARKET CONDITIONS PERMIT. NEW PROGRAM SERVICES FORM 990, PART III, LINE 2 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. THE GOAL OF THE PROGRAM IS TO DEVELOP FUTURE LEADERSHIP FOR AABGU. 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. 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 A, LINE 4 RECOMMENDATION OF THE AABGU GOVERNANCE COMMITTEE FOR AN AMENDMENT TO THE BY-LAWS: THE EFFECT OF THE RECOMMENDED AMENDMENT IS TO MAKE PAST CHAIRS OF BGU'S BOARD OF GOVERNORS WHO ARE U.S. CITIZENS MEMBERS OF AABGU'S BOARD OF DIRECTORS. A SIMILAR PROVISION ALREADY EXISTS IN AABGU'S BY-LAWS WITH RESPECT TO PAST PRESIDENTS OF AABGU'S BOARD. THE AABGU BY-LAWS WERE AMENDED AT THE WINTER 2012 BOARD MEETING AS FOLLOWS: BY ADDING A NEW PARAGRAPH 5 TO ARTICLE III, SECTION 1 TO READ AS FOLLOWS: 5. ALL PAST CHAIRS OF BEN-GURION UNIVERSITY'S BOARD OF GOVERNORS WHO ARE U.S. CITIZENS AND WHO HAVE COMPLETED THEIR TERM OF OFFICE. (THE SECTION OF THE BY-LAWS BEING AMENDED IS THE ONE THAT DEALS WITH THE NUMBER AND QUALIFICATION OF AABGU'S DIRECTORS.) 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. THE DRAFT 990 IS THEN 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 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 67,748 TELECOMMUNICATIONS 89,973 DUES AND SUBSCRIPTIONS 7,352 EQUIPMENT RENTAL 25,852 PRINTING, PUBLICITY, POSTAGE & SHIPPING 445,026 TOTAL OFFICE EXPENSES 635,951 CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 3,409,792. CHANGE IN VALUE OF SPLIT-INTEREST AGREEMENTS -417,362. BAD DEBT EXPENSE INCLUDED IN INCOME ON AUDITED FINANCIAL STATEMENT -37,713. TOTAL TO FORM 990, PART XI, LINE 5: 2,954,717.