2012-06-29T10:27:30-04:00 2011-09-30 KPMG LLP 1676 International Drive McLean VA 22102 990 2010-10-01 530196573 American Council on Education AMER 2029399330 One Dupont Circle NW Washington DC 200361193 MOLLY C BROAD 2012-06-27 7032868000 2010 2016-02-24 21:20:13Z ACE MARGARET BROAD ONE DUPONT CIRCLE NW WASHINGTON DC 20036 62212010 false X WWW.ACENET.EDU X 1918 DC THE AMERICAN COUNCIL ON EDUCATION SEEKS TO PROVIDE LEADERSHIP AND A UNIFYING VOICE ON KEY HIGHER EDUCATION ISSUES AND TO INFLUENCE PUBLIC POLICY THROUGH REPRESENTATION, RESEARCH, AND PROGRAM INITIATIVES. 34 34 272 47 292069 -199910 27209221 32336742 22414650 25838968 625343 924106 1171971 1153870 51421185 60253686 9165399 10312112 0 0 24340629 21769186 0 0 984841 14081372 18246309 47587400 50327607 3833785 9926079 74255434 86155904 24088382 27929930 50167052 58225974 X THE AMERICAN COUNCIL ON EDUCATION (ACE) IS THE MAJOR COORDINATING BODY FOR HIGHER EDUCATION IN THE UNITED STATES. FOUNDED IN 1918, ACE SEEKS TO PROVIDE LEADERSHIP AND A UNIFYING VOICE ON KEY HIGHER EDUCATION ISSUES AND TO INFLUENCE PUBLIC POLICY THROUGH REPRESENTATION, RESEARCH, AND PROGRAM INITIATIVES. ACE AIMS TO FOSTER GREATER COLLABORATION AND NEW PARTNERSHIPS WITHIN AND OUTSIDE THE HIGHER EDUCATION COMMUNITY TO HELP COLLEGES AND UNIVERSITIES ANTICIPATE AND ADDRESS THE CHALLENGES OF THE 21ST CENTURY AND CONTRIBUTE TO A STRONGER NATION AND A BETTER WORLD. ACE VALUES INCLUSIVENESS AND DIVERSITY, RECOGNIZES HIGHER EDUCATION'S RESPONSIBILITY TO SOCIETY, AND EMBRACES THE BELIEF THAT WIDESPREAD ACCESS TO EXCELLENT POSTSECONDARY EDUCATIONAL OPPORTUNITIES IS THE CORNERSTONE OF A DEMOCRATIC SOCIETY. false false 21081323 8757711 5505485 PROFESSIONAL DEVELOPMENT PROGRAMS - THESE PROGRAMS PROVIDE VALUABLE OPPORTUNITIES FOR INDIVIDUAL AND INSTITUTIONAL DEVELOPMENT. THE EXECUTIVE LEADERSHIP GROUP OFFERS CRITICAL NETWORKING AND EDUCATIONAL PROGRAMMING FOR SENIOR-LEVEL CAMPUS LEADERS WITH SPECIAL FOCUS ON PRESIDENTS, CHIEF ACADEMIC OFFICERS, VICE PRESIDENTS, AND OTHERS. THE EMERGING LEADERS GROUP OFFERS LEADERSHIP DEVELOPMENT PROGRAMS AND NETWORKING OPPORTUNITIES FOR MID-LEVEL ADMINISTRATORS. THE INCLUSIVE EXCELLENCE GROUP HELPS FOSTER GREATER DIVERSITY AND INCLUSION IN HIGHER EDUCATION THROUGH LEADERSHIP DEVELOPMENT AND EDUCATIONAL PROGRAMS DESIGNED TO BROADEN THE HIGHER EDUCATION PIPELINE AS WELL AS RESEARCH INITIATIVES FOCUSED ON ANALYZING EMERGING TRENDS ON THE STATUS OF UNDERREPRESENTED GROUPS IN HIGHER EDUCATION. BECAUSE ACE RECOGNIZES THAT GLOBAL PERSPECTIVES ARE CRITICAL TO SOLVING CONTEMPORARY PROBLEMS, ENSURING ACADEMIC EXCELLENCE AND PREPARING A WORLD-CLASS WORKFORCE, ITS INTERNATIONAL INITIATIVES PROGRAMS AND SERVICES ARE INTERTWINED WITH BROADER LEADERSHIP DEVELOPMENT PROGRAMS IN ORDER TO SUPPORT AND ENHANCE INTERNATIONALIZATION ON U.S. CAMPUSES. ACE'S HIGHER EDUCATION IN DEVELOPMENT PROGRAM, FUNDED BY A COOPERATIVE AGREEMENT WITH THE U.S. AGENCY FOR INTERNATIONAL DEVELOPMENT COORDINATES ENGAGEMENT OF THE U.S. HIGHER EDUCATION COMMUNITY WITH ORGANIZATIONS OVERSEAS TO ADDRESS DEVELOPMENT CHALLENGES. 11851582 950750 10003909 CENTER FOR LIFELONG LEARNING - FOR MORE THAN 65 YEARS, THE AMERICAN COUNCIL ON EDUCATION (ACE) HAS BEEN A NATIONAL LEADER IN THE EVALUATION OF EDUCATION AND TRAINING OBTAINED OUTSIDE THE CLASSROOM. ITS WORK ENSURES THE VALIDITY OF NONTRADITIONAL LEARNING AND ADULT ACCESS TO AND SUCCESS IN POSTSECONDARY EDUCATION AND THE WORKFORCE. THE CENTER FOR LIFELONG LEARNING ADDRESSES ADULT LEARNING CHALLENGES WITH A RANGE OF ACTIVITIES THAT INCLUDE NATIONAL INITIATIVES, RESEARCH PROGRAMS, SERVICES, ONLINE RESOURCES, WORKSHOPS AND PUBLICATIONS. THROUGH THESE MEANS, INCLUDING THE COLLEGE CREDIT RECOMMENDATION SERVICE AND EVALUATION OF MILITARY COURSES AND OCCUPATIONS, THE CENTER FOR LIFELONG LEARNING HELPS ADULTS OBTAIN ACADEMIC CREDIT FOR FORMAL COURSES AND EXAMINATIONS TAKEN OUTSIDE TRADITIONAL COLLEGES AND UNIVERSITIES. IN CONJUNCTION WITH THESE PROGRAMS, THE CENTER'S REGISTRY SERVICES PROVIDE TRANSCRIPTS FOR ADULT LEARNERS WHO HAVE TAKEN ACE-EVALUATED CORPORATE AND MILITARY PROGRAMS. THE CENTER ALSO ENGAGES IN POLICY WORK THAT ADVANCES LIFELONG LEARNING FOR ADULTS ACROSS NUMEROUS SECTORS NATIONWIDE. MOST RECENTLY, ACE HAS BEEN INVOLVED WITH PROGRAMS TO SUPPORT ACTIVE DUTY MILITARY AS WELL AS VETERANS. THROUGH GRANT-FUNDED PROJECTS, ACE HAS CREATED A TOOLKIT FOR VETERAN-FRIENDLY INSTITUTIONS AND PROVIDES SERVICES TO WOUNDED MILITARY PERSONNEL AT BETHESDA WALTER REED. 4636206 486151 520 GOVERNMENT RELATIONS AND PUBLIC AFFAIRS - COORDINATES AND PUBLICIZES THE EFFORTS OF THE HIGHER EDUCATION COMMUNITY IN REPRESENTING ITS CONCERNS TO THE FEDERAL GOVERNMENT. ACE PREPARES TESTIMONY FOR CONGRESSIONAL HEARINGS, COMMENTS ON PROPOSED FEDERAL LEGISLATION AND REGULATIONS, AND FILES AMICUS CURIAE BRIEFS ON COURT CASES WITH IMPORTANT IMPLICATIONS FOR HIGHER EDUCATION. A KEY BENEFIT OF ACE MEMBERSHIP IS ACCESS TO HIGHER EDUCATION RESEARCH AND PUBLICATIONS. ACE PUBLISHES PAPERS, MONOGRAPHS, RESEARCH REPORTS AND BOOKS ON THE TOPICS OF STUDENT FINANCIAL AID, DEMOGRAPHIC TRENDS IN HIGHER EDUCATION, ACADEMIC PREPARATION FOR COLLEGE, AND THE COLLEGE PRESIDENCY, AMONG OTHER TOPICS. ANOTHER MEANS OF DISSEMINATION OF THIS INFORMATION IS THE ACE ANNUAL MEETING WHICH IS AN IDEAL SETTING FOR NETWORKING WITH COLLEAGUES AND ADDRESSING FUTURE CHALLENGES OF HIGHER EDUCATION. 6813467 117500 7838804 44382578 true true false true false false false false false true false true false true true true false false false true true false false false false false true false true false false false false false false false true true false false false false false false false false true true 398 0 true 272 true true true false false false false false false false false false X 34 34 false false false false true true false true true false false true true true true true true true true true true DC FL NY X MARGARET BROAD 2029399310 ONE DUPONT CIRCLE NW WASHINGTON DC 20036 COLE SUSAN A 1.0 X 0 0 0 GANN PAMELA B 1.0 X 0 0 0 GENSHAFT JUDY 1.0 X 0 0 0 MARTIN CAROLYN A BIDDY 1.0 X 0 0 0 MCGUIRE PATRICIA 1.0 X 0 0 0 MIDDLETON CHARLES 1.0 X 0 0 0 REILLY KEVIN P 1.0 X 0 0 0 WONG LESLIE 1.0 X 0 0 0 AOUN JOSEPH 1.0 X 0 0 0 AYERS EDWARD 1.0 X 0 0 0 CURRIE DING-JO 1.0 X 0 0 0 GARIBALDI ANTOINE 1.0 X 0 0 0 MITCHELL HORACE 1.0 X 0 0 0 NATALICIO DIANA 1.0 X 0 0 0 SEXTON JOHN 1.0 X 0 0 0 YUDOF MARK 1.0 X 0 0 0 HARRIS BRICE W 1.0 X 0 0 0 MARX ANTHONY W 1.0 X 0 0 0 MATOS RODRIGUEZ FELIX V 1.0 X 0 0 0 MAXWELL DAVID 1.0 X 0 0 0 MULLEN JAMES H 1.0 X 0 0 0 PADRON EDUARDO J 1.0 X 0 0 0 ROMO RICARDO 1.0 X 0 0 0 TURNER GERALD R 1.0 X 0 0 0 MILLER KEITH L 1.0 X 0 0 0 PRUITT GEORGE A 1.0 X 0 0 0 DAHL CHRISTOPHER C 1.0 X 0 0 0 PRIVETT STEPHEN A SJ 1.0 X 0 0 0 LINNANE BRIAN SJ 1.0 X 0 0 0 MASON SALLY 1.0 X 0 0 0 MARTIN GEORGE E 1.0 X 0 0 0 ANDERSON LOREN J 1.0 X 0 0 0 RHOADES GARY 1.0 X 0 0 0 STEWART DEBRA W 1.0 X 0 0 0 WALDA JOHN 1.0 X 0 0 0 KHATOR RENU 1.0 X 0 0 0 BOSCHINI VICTOR 1.0 X 0 0 0 DISTEFANO PHILIP 1.0 X 0 0 0 GORA JOANN 1.0 X 0 0 0 MCAULIFFE JANE 1.0 X 0 0 0 REILLY KEVIN P 1.0 X 0 0 0 SPANGLER MARY 1.0 X 0 0 0 WATSON WAYNE 1.0 X 0 0 0 NORTON KAY 1.0 X 0 0 0 MILLIKEN JAMES B 1.0 X 0 0 0 GARLAND JOHN W 1.0 X 0 0 0 PRAGER SUSAN WESTERBERG 1.0 X 0 0 0 WELLS RICHARD 1.0 X 0 0 0 MCCALLIN NANCY 1.0 X 0 0 0 BROAD MARGARET C 50.0 X 451635 0 248284 HARTLE TERRY 50.0 X 319854 0 130599 PIPPINS SHIRLEY 50.0 X 341413 0 117355 TOMITZ JEFFREY A 50.0 X 227344 0 71529 BABBY ELLEN 50.0 X 240080 0 75435 COLLINS COLEEN 50.0 X 197017 0 61976 FREEMAN KARA 50.0 X 197211 0 62064 MELOY ADA 50.0 X 249349 0 78206 SELBE JAMES 50.0 X 182678 0 52127 CHESTANGNICOLE 50.0 X 281199 0 22843 VAN UMMERSEN CLAIRE 50.0 X 244843 0 76610 GREEN MADELEINE F 50.0 X 243847 0 76666 TIMMONS BECKY 50.0 X 205746 0 64643 MCDONOUGH TIMOTHY 50.0 X 207785 0 65360 KING JACQUELINE 50.0 X 160242 0 50411 3750243 0 1254108 36 false true false EDUCATION TESTING SERVICE 4897 COLLECTION CENTER DR CHICAGO IL 60693 EDUCATION RESEARCH 1441188 NCS PEARSON INC 13036 COLLECTION DRIVE CHICAGO IL 60693 EDUCATIONAL CONSLTG 812039 WARFIELD SANFORD ELEVATOR COMPANY 7811 ACADEMY LANE LAUREL MD 20707 SERVICE & REPAIR 489165 CMGRP Inc PO Box 7247-6593 PHILADELPHIA PA 191706593 PR SERVICES 444369 MARINER SYSTEM INC 1670 S AMPHLETT BLVD SUITE 300 SAN MATEO CA 94402 APPLICATIONS MGMT 282770 15 6378844 21256197 4701701 596670 32336742 TESTING AND REGISTRATION FEES 900099 15355637 15355637 RENT INCOME 532000 5624208 5624208 GARAGE PARKING 812930 304965 302104 2861 SALES AND OTHER INCOME 900099 464929 464929 INVESTMENT IN JOINT VENTURE 900099 4089229 4089229 25838968 820998 820998 0 316779 316779 1616322 1513214 103108 103108 103108 0 0 1233858 445110 788748 547883 240865 0 THE PRESIDENCY - PUBLICATION ADVERTISING 541800 48343 48343 48343 60253686 26383990 292069 1240885 10312112 10312112 0 0 0 0 0 0 3051197 2644349 315150 91698 0 11600578 9975177 1228832 396569 1025035 883741 106821 34473 5137960 4442314 518355 177291 954416 822856 99462 32098 0 307811 124199 183612 272182 0 272182 0 0 45512 0 45512 4120822 3506967 583596 30259 16368 0 0 16368 1910945 1593688 266673 50584 313371 253252 55470 4649 0 3382792 2939038 334061 109693 2048747 1981033 60270 7444 0 988563 939489 48159 915 212075 0 212075 0 1437322 1073091 351715 12516 91604 10827 80519 258 AWARDS TO SUBRECIPIENTS 1416222 1416222 REPAIRS AND MAINTENANCE 870678 696442 159861 14375 MISCELLANEOUS 607870 564506 37713 5651 BAD DEBT AND WRITE DOWNS 203275 203275 REAL ESTATE AND OTHER TAXES 150 0 150 50327607 44382578 4960188 984841 4761250 4762091 7089267 7088300 3342354 1488126 14726616 91858 1356404 1974487 31012342 24207941 6789379 6804401 33484877 37744865 531581 178303 1481298 24958888 692408 1064585 74255434 86155904 9760559 10296791 6139594 9844922 4852398 4441332 3335831 3346885 24088382 27929930 X 44601928 52321406 5565124 5904568 50167052 58225974 74255434 86155904 X 9926079 -1867157 X false true true X true true X 33639716 26661435 33168594 27209221 32336742 153015708 16169666 19214079 19497552 23634652 26831961 105347910 49809382 45875514 52666146 50843873 59168703 258363618 258363618 8384803 7301447 7003142 1936660 1137777 25763829 8384803 7301447 7003142 1936660 1137777 25763829 58194185 53176961 59669288 52780533 60306480 284127447 0.90932 0.89039 0.09068 0.10906 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 181047 181047 50146560 50327607 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 545122 317411 204725 181047 1248305 250000 250000 250000 250000 1000000 1500000 0 0 0 0 0 2678042 2678042 17975272 17061317 482614 10359028 7146624 3643745 0 0 0 6804401 24958888 0 INTEREST RATE SWAP 278041 RETIREE MEDICAL BENEFIT OBLIGA 3068844 3346885 60253686 50327607 9926079 -1856103 -11054 -1867157 8058922 59010517 -1856103 31885 135939 -1688279 60698796 -445110 -445110 60253686 50951595 31885 592103 623988 50327607 50327607 COUNCIL TAX STATUS SCHEDULE D, PART X THE COUNCIL HAS BEEN GRANTED EXEMPTION FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND HAS BEEN FURTHER CLASSIFIED AS A PUBLIC CHARITY. THE COUNCIL EARNS UNRELATED BUSINESS INCOME DERIVED FROM PUBLICATION ADVERTISING AND RENTAL INCOME FROM FOR-PROFIT ENTITIES. HOWEVER, NO TAXES WERE PAYABLE ON SUCH AMOUNTS FOR THE YEARS ENDED SEPTEMBER 30, 2011 AND 2010, AS ALLOWABLE DEDUCTIBLE EXPENSES EXCEEDED UNRELATED INCOME. THE COUNCIL APPLIES A "MORE-LIKELY-THAN-NOT" THRESHOLD TO POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. RECONCILIATION OF NET ASSETS SCHEDULE D, PART XI, LINE 8 GAIN ON INTEREST RATE SWAP $135,939 POSTRETIREMENT CHARGE OTHER THAN NET PERIODIC BENEFIT COST <146,993> ========= TOTAL OTHER CHANGES: <11,054> RECONCILIATION OF REVENUE SCHEDULE D, PART XII, LINE 2D GAIN ON INTEREST RATE SWAP $135,939 ======== SCHEDULE D, PART XII, LINE 4B COST OF GOODS SOLD $<445,110> ======== RECONCILIATION OF EXPENSES SCHEDULE D, PART XIII, LINE 2D POSTRETIREMENT CHARGE OTHER THAN NET PERIODIC BENEFIT COST 146,993 RECLASSIFICATION OF COST OF GOODS SOLD 445,110 ========= TOTAL: 592,103 true Central America and the Caribbean 0 0 Program Services INTL DEVELOPM OF EDUC 225844 Europe (Including Iceland and Greenland) 0 0 Program Services INTL DEVELOPM OF EDUC 329650 Middle East and North Africa 0 0 Program Services INTL DEVELOPM OF EDUC 2272253 North America 0 0 Program Services INTL DEVELOPM OF EDUC 3426384 South America 0 0 Program Services INTL DEVELOPM OF EDUC 807464 South Asia 0 0 Program Services INTL DEVELOPM OF EDUC 101442 Sub-Saharan Africa 0 0 Program Services INTL DEVELOPM OF EDUC 5448521 Sub-Saharan Africa 0 0 Grantmaking 460852 0 0 0 0 13072410 13072410 Sub-Saharan Africa DIVERSITY 368263 Sub-Saharan Africa DIVERSITY 64623 Sub-Saharan Africa DIVERSITY 27966 0 3 false false false false false false SCHEDULE F, PART I, LINE 2 - MONITORING FUNDS The American Council on Education (ACE) receives federal funds through its office of Higher Education for Development (HED) and the office of Leadership and Lifelong Learning (LLL). In accordance with federal government administrative requirements, ACE performs subrecipient monitoring of funds it receives from federal sources in order to ensure that the funds are being used for their intended purpose and that there are no OMB Circular A-133 audit findings that may adversely affect the use of the subrecipient's grant funds. Subrecipient monitoring efforts are a joint effort of program and finance staff. While a number of ACE's subrecipient monitoring efforts are common to each of the federally-funded offices, there is also a series of specific monitoring efforts dedicated specifically to management of HED subrecipients and LLL recipients, which are implemented on a case-by-case or "as needed" basis, such as specific training or specific templates for subrecipents. The special efforts are developed to accommodate the different nature and needs of the programs and their respective recipients. 4. Funding Mechanisms 4.1. Higher Education for Development (HED) HED receives funding from the United States Agency for International Development (USAID) and the Department of State (DOS) through cooperative agreements. HED has a Leader-With-Associate (LWA) cooperative agreement with USAID, whereby a large portion of the funds received are required to be subawarded to partnerships between American and foreign higher education institutions. USAID Missions and other federal agencies can buy into the LWA to add funding for specific activities in two ways: 1) Adding funds directly into the LWA; or 2) Adding funds to an Associate. In addition to the Leader-With-Associate award and the Associate Awards from USAID, HED received a Cooperative Agreement from the DOS during the summer of 2011. The DOS agreement also has the requirement to pass the funds to partnerships between American and foreign institutions for Higher Education. Through a competitive award process, the funds from USAID and DOS are subawarded to the American institutions of higher education, which then pass part of the funds to the foreign institutions. The foreign institutions of higher education are the sub-subawardees of funds from USAID and DOS. 4.2. Leadership for Lifelong Learning (formerly named "Program and Services") ACE also receives funding from a Cooperative Agreement with USAID-South Africa Mission. The Cooperative Agreement was awarded to ACE to provide technical assistance and skills development to Further Education Training Colleges (FETCs) in South Africa. Under this Cooperative Agreement, ACE established subagreements with US-based nonprofit organizations, South Africa-based healthcare organizations, and South Africa-based FETCs. 5. Grants & Contracts Unit Monitoring Efforts The Grants & Contracts Unit of ACE's Finance and Budget Department (G&C unit) conducts monitoring efforts that take place in different stages and ways during the life of a subaward, from application to close-out. During the life of an award, ACE/G&C Unit uses a database to track its partners to ensure A-133 reports, quarterly invoices and foreign tax reports are submitted in a timely manner. 5.1. Application phase During the application phase, ACE presents the applicants with a budget application package that compels the disclosure of financial information and existing financial systems that will ensure proper management of federal funds. The package consists of five documents: 1) A Microsoft Excel budget form; 2) A sample of the budget form populated with a fictional budget to provide the applicants with examples of how to utilize the template; 3) A Microsoft Word budget narrative sample that goes with the budget sample provided, so applicants can visualize what kind of information the budget narrative should contain; 4) A Microsoft Powerpoint presentation that lays out the rules for proper budgeting under the federal cost principles and provides references to the federal regulations; and 5) A Microsoft Word checklist to be completed once the budget is finalized to aid the applicant in ensuring that all requirements have been fulfilled. With each application package, an institution is required to submit a budget, a budget narrative, a copy of its NICRA letter, and any other policies relevant for the budget review, such as institutional policies for fringe benefits and equipment. Additionally, starting in FY12, applicants will be required to complete a pre-award survey in which they answer specific questions about the capabilities of their financial systems. As an extra effort to ensure that partners have comprehensive understanding of the cost principles and federal regulations from the application phase, ACE G&C Unit also provides support to partners during the application phase. This support consists of participation in webinars that program staff conduct with applicants during the application phase, where partners can ask questions and are often presented with a tutorial of how to use the budget template provided. In addition, G&C staff are available for questions during the application phase. 5.2. Post-award phase Once a partner is selected, G&C unit and program staff jointly monitor the progress of the partnership through collection of financial reports, cost share reports, programmatic narrative reports, OMB Circular A-133 audit reports, tax reports, annual implementation work plans and budgets, and continuous contact with partners by phone, e-mail, or face-to-face meetings. From time to time ACE also incorporates site visits and trainings as part of its monitoring efforts. 5.2.1. Financial and Cost Share Reports ACE subaward agreements require that subawardees submit quarterly financial reports and quarterly cost share reports to program staff. A template for these reports is provided to partners as an attachment to the subaward agreements. The reports track total approved budget, total expenses for the period, and total cumulative expenses, both for the federal portion of the subaward and cost share. Subawardees are required to submit quarterly financial and cost share reports to ACE 30 days after the end of each quarter. The only exception to this requirement is the fourth quarter reports, which are due to ACE on October 15th. This allows ACE to properly process all payments to partners and close its own fiscal year within the deadlines established by ACE's Board of Directors. Reports of a financial nature go through a series of internal reviews prior to payment. The program specialist in charge of managing the partnership conducts the first review, comparing expenditures on award and cost share against the approved budgets and based on his/her knowledge of the activities conducted by the partner during the quarter being reviewed. The program specialist also checks the reports for mathematical errors, for improper charges, and for other inconsistencies. Once the program specialist provides the first program approval, he/she submits the report to his/her supervisor for the second program approval. With the second program approval, the reports are sent to the G&C Unit. The Grants Specialist at the G&C Unit once again checks expenses against approved budgets and provides a second review of mathematical checks and compliance issues. With the approval of the Grants Specialist, the report is then submitted to the Director of Grants & Contracts, who provides the final review and final approval prior to payment. 5.2.2. Programmatic Reports ACE subaward agreements require that subawardees submit semi-annual progress reports to program staff. Once again, a template for these reports is provided to partners as an attachment to the subaward agreements. The narrative programmatic reports are used to track and monitor the partnership progress and accomplishments and are submitted directly to the program specialist who is managing the partnership. More about this particular monitoring tool is described below in the session "Program Monitoring Efforts". 5.2.3. Audit Reports As described below, ACE obtains audit reports from its partners annually. Any partner's audit findings that affect or may have a direct impact on ACE subawards are followed-up directly with the partner within six months after the receipt of the subrecipient's audit report. ACE sends follow-up letters to all organizations that have not submitted an audit report before November 30 of each year. Foreign Partners Foreign organizations are not subject to OMB Circular A-133 requirements. ACE sends a an audit certification letter to the foreign partners, around the same period of the local partners' letter. The letter informs the partners that, in accordance with the requirements of the Automated Directives System (ADS) 591, foreign organizations spending $300,000 or more during their fiscal year in USAID awards shall have an annual finan SCHEDULE F, PART I, LINE 3, COLUMN (F) EXPENSES ARE REPORTED ACCORDING TO ACE'S BOOKS AND RECORDS. true ALAMO COMMUNITY COLLEGE DISTRICT 811 W HOUSTON ST SAN ANTONIO TX 78207 746002173 501(c)(3) 122907 SUPPORT DIVERSITY AMERICAN ASSOC OF COMMUNITY COLLEGES 530196569 115 18789 SUPPORT DIVERSITY APPALACHIAN STATE UNIVERSITY JOHN E THOMAS BLDG BOONE NC 28608 561176030 115 95976 SUPPORT DIVERSITY ARIZONA STATE UNIVERSITY PO BOX 873503 TEMPLE AZ 852873503 860196696 115 107930 SUPPORT DIVERSITY ASSN OF PUBLIC & LAND GRANT UNIVERSITIES PO BOX 75263 BALTIMORE MD 21275 530183246 68329 SUPPORT DIVERSITY BROWN UNIVERSITY PO BOX 1929 PROVIDENCE RI 02912 050258809 501(c)(3) 38086 SUPPORT DIVERSITY CALIFORNIA STATE UNIVERSITY FULLERTON 2600 NUTWOOD AVE FULLERTON CA 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BROADWAY SUITE 428 NEW YORK NY 10033 112656137 467836 SUPPORT DIVERSITY TULANE UNIVERSITY 800 E COMMERCE RD HARAHAN LA 70123 720423889 501(c)(3) 321941 SUPPORT DIVERSITY TUSKEGEE UNIVERSITY CARNEGIE HALL 4TH FL TUSKEGEE AL 36088 630288878 501(c)(3) 129524 SUPPORT DIVERSITY UNIV OF ARIZONA PO BOX 3520 TUCSON AZ 857223520 742652689 115 57278 SUPPORT DIVERSITY UNIV OF CALIFORNIA SAN DIEGO 9500 GILMAN DR 108 DATE BLDG 0631-C LA JOLLA CA 92093 952872494 115 583952 SUPPORT DIVERSITY UNIV OF COLORADO BOULDER SPON PROJ ACCTG BOULDER CO 803090574 846000555 115 74196 SUPPORT DIVERSITY UNIV OF CONNECTICUT 438 WHITNEY RE EXT UNIT 113 STORRS CT 062691133 060772160 115 236262 SUPPORT DIVERSITY UNIV OF GEORGIA 475 N LUMPKIN ST ATHENS GA 306025333 586001998 115 74617 SUPPORT DIVERSITY UNIV OF LOUISIANA AT LAFAYETTE PO BOX 40400 LAFAYETTE LA 70504 726000820 115 22823 SUPPORT DIVERSITY UNIV OF MASSACHUSETTS BOSTON 100 MORRISSEY BLVD BOSTON MA 02125 043167352 115 52982 SUPPORT DIVERSITY UNIV OF TEXAS AT AUSTIN PO BOX 7159 AUSTIN TX 787137159 746000203 115 59842 SUPPORT DIVERSITY UNIV OF TEXAS AT EL PASO OFC OF CONT GNT EL PASO TX 79968 746000813 115 437676 SUPPORT DIVERSITY UNIVERSITY OF CINCINNATI PO BOX 691031 CINCINNATI OH 45269 310896555 115 304334 SUPPORT DIVERSITY UNIVERSITY OF FLORIDA PO BOX 113001 GAINESVILLE FL 32611 591867557 115 191584 SUPPORT DIVERSITY UNIVERSITY OF HAWAII 2530 DOLE STREET HONOLULU HI 96822 996000354 115 85688 SUPPORT DIVERSITY UNIVERSITY OF NEBRASKA - LINCOLN 312N 14TH ALEX WEST LINCOLN NE 68588 271324754 115 120256 SUPPORT DIVERSITY UNIVERSITY OF PITTSBURGH 3100 CATH OF LEARNING PITTSBURGH PA 15260 250965591 115 382666 SUPPORT DIVERSITY UNIVERSITY OF SAN DIEGO 5998 ALCALA PARK SAN DIEGO CA 92110 952544535 115 165188 SUPPORT DIVERSITY UNIVERSITY OF SOUTHERN MAINE PO BOX 9300 PORTLAND ME 04104 016000769 115 108973 SUPPORT DIVERSITY UTAH STATE UNIVERSITY 400 OLD MAIN HILL LOGAN UT 843222400 876000528 115 196055 SUPPORT DIVERSITY VIRGINIA POLYTECHNIC INST & STATE UNIV 1880 PRAATT DR STE 2006 BLACKSBURG VA 24060 546001805 501(c)(3) 249968 SUPPORT DIVERSITY WASHTENAW COMMUNITY COLLEGE 4800 E HURON RIVER DR ANN ARBOR MI 48105 382575395 115 48621 SUPPORT DIVERSITY WESTERN ILLINOIS UNIVERSITY ONE UNIVERSITY CIR MACOMB IL 614551390 370910458 115 36564 SUPPORT DIVERSITY WILLIAM DAVIDSON INSTITUTE 724 E UNIV AVE ANN ARBOR MI 481091234 383048086 501(c)(3) 286969 SUPPORT DIVERSITY YOUTHBUILD USA 58 DAY STREET SOMERVILLE MA 02144 223076454 501(c)(3) 329025 SUPPORT DIVERSITY 70 2 MONITORING THE USE OF GRANT FUNDS FORM 990, SCHEDULE I, PART I, LINE 2 The American Council on Education (ACE) receives federal funds through its office of Higher Education for Development (HED) and the office of Leadership and Lifelong Learning (LLL). In accordance with federal government administrative requirements, ACE performs subrecipient monitoring of funds it receives from federal sources in order to ensure that the funds are being used for their intended purpose and that there are no OMB Circular A-133 audit findings that may adversely affect the use of the subrecipient's grant funds. Subrecipient monitoring efforts are a joint effort of program and finance staff. While a number of ACE's subrecipient monitoring efforts are common to each of the federally-funded offices, there is also a series of specific monitoring efforts dedicated specifically to management of HED subrecipients and LLL recipients, which are implemented on a case-by-case or "as needed" basis, such as specific training or specific templates for subrecipents. The special efforts are developed to accommodate the different nature and needs of the programs and their respective recipients. 1. Funding Mechanisms 1.1. Higher Education for Development (HED) HED receives funding from the United States Agency for International Development (USAID) and the Department of State (DOS) through cooperative agreements. HED has a Leader-With-Associate (LWA) cooperative agreement with USAID, whereby a large portion of the funds received are required to be subawarded to partnerships between American and foreign higher education institutions. USAID Missions and other federal agencies can buy into the LWA to add funding for specific activities in two ways: 1) Adding funds directly into the LWA; or 2) Adding funds to an Associate. In addition to the Leader-With-Associate award and the Associate Awards from USAID, HED received a Cooperative Agreement from the DOS during the summer of 2011. The DOS agreement also has the requirement to pass the funds to partnerships between American and foreign institutions for Higher Education. Through a competitive award process, the funds from USAID and DOS are subawarded to the American institutions for higher education, which then pass part of the funds to the foreign institutions. The foreign institutions for higher education are the sub-subawardees of funds from USAID and DOS. 1.2. Leadership for Lifelong Learning (formerly named "Program and Services") ACE also receives funding from a Cooperative Agreement with USAID-South Africa Mission. The Cooperative Agreement was awarded to ACE to provide technical assistance and skills development to Further Education Training Colleges (FETCs) in South Africa. Under this Cooperative Agreement, ACE established subagreements with US-based nonprofit organizations, South Africa-based healthcare organizations, and South Africa-based FETCs. 2. Grants & Contracts Unit Monitoring Efforts The Grants & Contracts Unit of ACE's Finance and Budget Department (G&C unit) conducts monitoring efforts that take place in different stages and ways during the life of a subaward, from application to close-out. During the life of an award, ACE/G&C Unit uses a database to track its partners to ensure A-133 reports, quarterly invoices and foreign tax reports are submitted in a timely manner. 2.1. Application phase During the application phase, ACE presents the applicants with a budget application package that compels the disclosure of financial information and existing financial systems that will ensure proper management of federal funds. The package consists of five documents: 1) A Microsoft Excel budget form; 2) A sample of the budget form populated with a fictional budget to provide the applicants with examples of how to utilize the template; 3) A Microsoft Word budget narrative sample that goes with the budget sample provided, so applicants can visualize what kind of information the budget narrative should contain; 4) A Microsoft PowerPoint presentation that lays out the rules for proper budgeting under the federal cost principles and provides references to the federal regulations; and 5) A Microsoft Word checklist to be completed once the budget is finalized to aid the applicant in ensuring that all requirements have been fulfilled. With each application package, an institution is required to submit a budget, a budget narrative, a copy of itsNICRA letter, and any other policies relevant for the budget review, such as institutional policies for fringe benefits and equipment. Additionally, starting in FY12, applicants will be required to complete a pre-award survey in which they answer specific questions about the capabilities of their financial systems. As an extra effort to ensure that partners have comprehensive understanding of the cost principles and federal regulations from the application phase, ACE G&C Unit also provides support to partners during the application phase. This support consists of participation in webinars that program staff conduct with applicants during the application phase, where partners can ask questions and are often presented with a tutorial of how to use the budget template provided. In addition, G&C staff are available for questions during the application phase. 2.2. Post-award phase Once a partner is selected, G&C unit and program staff jointly monitor the progress of the partnership through collection of financial reports, cost share reports, programmatic narrative reports, OMB Circular A-133 audit reports, tax reports, annual implementation work plans and budgets, and continuous contact with partners by phone, e-mail, or face-to-face meetings. From time to time ACE also incorporates site visits and trainings as part of its monitoring efforts. 2.2.1. Financial and Cost Share Reports ACE subaward agreements require that subawardees submit quarterly financial reports and quarterly cost share reports to program staff. A template for these reports is provided to partners as an attachment to the subaward agreements. The reports track total approved budget, total expenses for the period, and total cumulative expenses, both for the federal portion of the subaward and cost share. Subawardees are required to submit quarterly financial and cost share reports to ACE 30 days after the end of each quarter. The only exception to this requirement is the fourth quarter reports, which are due to ACE on October 15th. This allows ACE to properly process all payments to partners and close its own fiscal year within the deadlines established by ACE's Board of Directors. Reports of a financial nature go through a series of internal reviews prior to payment. The program specialist in charge of managing the partnership conducts the first review, comparing expenditures on award and cost share against the approved budgets and based on his/her knowledge of the activities conducted by the partner during the quarter being reviewed. The program specialist also checks the reports for mathematical errors, for improper charges, and for other inconsistencies. Once the program specialist provides the first program approval, he/she submits the report to his/her supervisor for the second program approval. With the second program approval, the reports are sent to the G&C Unit. The Grants Specialist at the G&C Unit once again checks expenses against approved budgets and provides a second review of mathematical checks and compliance issues. With the approval of the Grants Specialist, the report is then submitted to the Director of Grants & Contracts, who provides the final review and final approval prior to payment. 2.2.2. Programmatic Reports ACE subaward agreements require that subawardees submit semi-annual progress reports to program staff. Once again, a template for these reports is provided to partners as an attachment to the subaward agreements. The narrative programmatic reports are used to track and monitor the partnership progress and accomplishments and are submitted directly to the program specialist who is managing the partnership. More about this particular monitoring tool is described below in the session "Program Monitoring Efforts". 2.2.3. Audit Reports As described below, ACE obtains audit reports from its partners annually. Any partner's audit findings that affect or may have a direct impact on ACE subawards are followed-up directly with the partner within six months after the receipt of the subrecipient's audit report. ACE sends follow-up letters to all organizations that have not submitted an audit report before November 30 of each year. MONITORING THE USE OF GRANTS FUNDS (CONT) FORM 990, SCHEDULE I, PART I, LINE 2 Domestic Partners OMB Circular A-133 requires any non-federal organization expending $500,000 in federal awards in any given year to have an audit conducted in accordance with standards established by the Office of Management and Budget (OMB). Accordingly, an organization receiving a subaward from ACE that meets this criterion is required to conduct an audit in accordance with OMB Circular A-133. Subawardees that do not meet the Circular A-133 audit requirement are asked to conduct an annual independent audit. ACE uses a database to track its university partners to ensure A-133 reports are submitted in a timely manner. Annually, ACE requests partnerships to submit the A-133 reports of their institutions and reviews the reports received for any internal control or compliance findings. As part of the review process, ACE considers the impact of any findings on its own financial records. To ensure that the audit reports are submitted to ACE timely the G&C unit sends a letter to all its domestic subawardees around July or August of every year. This letter requests that the organization certifies whether it is subject to Circular A-133 audit or not, and, if applicable, to provide ACE with a copy of their current audit report. A sample of the letter sent out to the American university partners is on each partnership agreement file or it is kept electronically. The audit reports for the prior fiscal year are to be submitted to ACE's Senior Contract Accountant, who reviews the reports and enters them into the G&C database system, with the date of receipt. 2.2.4. Annual Implementation Work Plans and Budgets The LWA and the Associate Awards require HED to submit annual work plans and budgets for the following fiscal year. By April 30th of every year, partners present to HED their work plans and budgets for the following fiscal year that starts October 1st. Some awards have different deadlines so HED incorporates the different deadlines in its subawards as well. HED then submits its own implementation plans to USAID on July 1st. The partners are provided with a template in which they lay out, by quarter, their activities and targets for the following fiscal year. The work plan is then accompanied by a budget for the same period, also divided by quarters. The program specialists review the work plans and budgets to ensure that the activities and expenses proposed are the ones approved in the subaward agreement. The targets established in the annual work plans then serve as a guideline for program specialists to monitor progress and accomplishments reported both in the quarterly financial reports and on the semi-annual progress reports. 2.2.5. Site Visits ACE systematically budgets funds for partnership site visits that are planned as part of its subrecipient monitoring efforts. The partners to be visited are selected based on a risk assessment that is identified by staff during the ongoing monitoring of the partnership activities. Once a need for a site visit is identified, ACE puts together a team that will visit the partners. The team normally consists of two to three members of the G&C Unit, plus the program specialist in charge of the partnership. In some cases, a member of the ACE legal counsel team also attends the visits. During the site visits, the Grants and Contracts Unit staff review financial records (i.e. quarterly financial and cost share reports) and obtain supporting documentation to substantiate the amounts reported to ACE. The program specialist reviews documentation of a programmatic nature and interviews the Principal Investigator to further assess the progress and the status of the partnership. The legal counsel member reviews institutional policies and investigates overall compliance with federal regulations during the life of the partnership. When a staff from the legal counsel cannot attend these visits, a member of the G&C Unit takes up the role of investigating compliance and review of institutional policies related to the subaward. 2.2.6. Training As specific needs of HED or LLL are identified, the G&C Unit provides training for both ACE program staff and partners. For instance, in FY11, the G&C Unit provided three training sessions for its partners and two training sessions for ACE staff. For partners, the training focused in management of federal funds and compliance requirements. The training was tailored specifically to the audience attending each session: One training session was conducted in February 2011 and was exclusively dedicated to the partners working under the HED Africa Initiative. HED's partners traveled to ACE's offices and attended a two-day seminar that included an overview of the requirements for financial and programmatic compliance. The success of the training for the HED Africa Initiative partners led to another training, this time in April in New Orleans, for the partners participating of the HED BMENA initiative. Once again, an overview of the financial and programmatic elements required to ensure compliance was provided, followed by a question-and-answers session. Finally, in July, the Director of Grants and Contracts and the Program Manager for the LLL took a one-week trip to South Africa to provide the same kind of financial and programmatic training, this time to the FTE colleges. Four sites were visited during the course of a week, with about 30 people trained on financial and programmatic compliance. To these partners, who are less experienced with management of federal funds, the G&C Unit also provided a special financial reporting tool to each organization to facilitate their reporting of expenses. 2.3. Closeout Phase When performance period of each partnership ends, program staff and the G&C Unit staff review the final report and submit final vouchers from the partner for final payment, observing the same procedures for payment from the post-award phase. Specific procedures are required from the partners for closeout on a case-by-case basis, such as observance of proper disposal of equipment and supplies, contractor release forms, etc. Copies of final reports are submitted to awarding agency. 3. Program Specialists Monitoring Efforts Program Specialists at the program offices are also responsible for monitoring results for their specifically assigned sub-award agreements. A program management manual addressed to Program Specialists that includes partnership-monitoring procedures is available. Each cooperative agreement and associate cooperative agreement document describes the specific monitoring and reporting requirements. Partnerships are monitored primarily by their performance objectives and each objective includes two parts: an activity and its expected outcome. 3.1. HED Program Specialists Monitoring Efforts HED compiles monthly program monitoring reports for partnerships, each with format and schedule determined in consultation with the AOTR (Agreement Officer Technical Representative) and in compliance with the provision of the Leader or Associate Cooperative Agreement. Reporting templates are sent to partnership directors and, once populated, are reviewed by HED's Director of Quality and Impact to insure that data gathered every six months from HED partnerships responds to USAID's Indicators for Higher Education. HED staff monitors compliance to ensure that performance objectives specified in each partnership award are attained. Monitoring takes the form of: - Review of reports and follow-up with partnerships by phone or e-mail - Annual portfolio reviews for each Program Specialist - Site visits to selected partnerships for intensive monitoring - Periodic impact assessments, including field visits to in-country partners for progress evaluation. Reports for the results of monitoring activities are included in the semi-annual reports that ACE delivers to USAID. Separate reports are prepared to describe the impact assessment studies. The Program Specialists also monitor submission of the quarterly financial expenditure reports and quarterly cost share reports. These expenditure reports are compared against the approved budget in the sub-agreement or the latest modification to the sub-award. Any amounts over the budgeted categories are disallowed unless a budget re-allocation is requested. Similarly, any funds not spent within the budgeted period will be disallowed, unless a no cost extension is requested and granted. MONITORING THE USE OF GRANT FUNDS (CONT.2) FORM 990, SCHEDULE I, PART I, LINE 2 3.2. LLL Program Monitoring Efforts The LLL Program designated an International Program Manager as the person responsible for monitoring efforts for subaward agreements under the LLL program. The International Program Manager assists with overall managerial support under the USAID Cooperative Agreement for all U.S. implementing partners, ensuring that funds are administered in accordance with the terms and conditions in the award, and that audit requirements for recipients and sub-recipients of federal awards are met. Each subaward agreement document describes the specific monitoring and reporting requirements for each partner. The International Program Manager monitors compliance to ensure that performance objectives specified in each sub-cooperative agreement are attained. Monitoring takes the form of: - Review of reports and follow-up with the partners by phone or e-mail. - Provides reports on the results of monitoring activities, which are included in the semi-annual reports to USAID. - Specific training or guidance for partners, as needed and appropriate, such as the training conducted for the FET Colleges in South Africa. The International Program Manager of the LLL also monitors submission of quarterly financial expenditure reports and quarterly cost share reports. These expenditure reports are compared against the approved budget in the sub-agreement or the latest modification to the sub-award. Any amounts over the budgeted categories are disallowed unless a budget re-allocation is requested. Likewise, any funds not spent within the budgeted period will be disallowed, unless a no cost extension is requested and granted. X X true true X X X X X true true false false false false false false false BROAD MARGARET C 413518 0 0 38117 0 59400 0 188884 0 699919 0 0 0 HARTLE TERRY 283731 0 16234 0 19889 0 59400 0 71199 0 450453 0 0 0 PIPPINS SHIRLEY 279439 0 25488 0 36486 0 39400 0 77955 0 458768 0 0 0 TOMITZ JEFFREY A 189048 0 8547 0 29749 0 26241 0 45288 0 298873 0 0 0 BABBY ELLEN 193308 0 8636 0 38136 0 27815 0 47620 0 315515 0 0 0 COLLINS COLEEN 155758 0 8117 0 33142 0 22717 0 39259 0 258993 0 0 0 FREEMAN KARA 173021 0 15000 0 9190 0 21918 0 40146 0 259275 0 0 0 MELOY ADA 211698 0 0 0 37651 0 28769 0 49437 0 327555 0 0 0 SELBE JAMES 151188 0 0 0 31490 0 20302 0 31825 0 234805 0 0 0 VAN UMMERSEN CLAIRE 222385 0 0 0 22458 0 28026 0 48584 0 321453 0 0 0 GREEN MADELEINE F 81688 0 0 0 162159 0 12857 0 63809 0 320513 0 0 0 TIMMONS BECKY 191910 0 8636 0 5200 0 24109 0 40534 0 270389 0 0 0 MCDONOUGH TIMOTHY 191123 0 0 0 16662 0 26964 0 38396 0 273145 0 0 0 KING JACQUELINE 118501 0 8636 0 33105 0 19116 0 31295 0 210653 0 0 0 CHESTANGNICOLE 281199 0 0 0 0 0 22843 0 0 0 304042 0 0 0 SEVERANCE PAYMENT SCHEDULE J, PART I, LINE 4A THE BELOW INDIVIDUALS RECEIVED A SEVERANCE PAYMENT FROM THE FILING ORGANIZATION WHICH IS REPORTED IN SCHEDULE J, COLUMN BIII: GREEN, MADELINE - $ 122,972 RETIREMENT PLAN SCHEDULE J, PART I, LINE 4B THE FOLLOWING EMPLOYEES PARTICIPATED IN A IRC SECTION 457(F)PLAN. THE AMOUNT OF DEFERRAL DURING THE YEAR WAS AS FOLLOWS: MARGARET BROAD $30,000 TERRY HARTLE $30,000 SHIRLEY PIPPINS $10,000 PRESIDENTIAL HOUSING SCHEDULE J, PART I, LINE 1A THE PRESIDENT IS PROVIDED HOUSING WHICH IS TREATED FOR TAX PURPOSES AS A NON-TAXABLE BENEFIT. HEALTH OR SOCIAL CLUB DUES SCHEDULE J, PART I, LINE 1A ACE PAID SOCIAL CLUB DUES IN THE AMOUNT OF $2,172 ON BEHALF OF MARGARET C. BROAD, THE PRESIDENT OF ACE AND IT IS CONSIDERED A WORKING CONDITION FRINGE. AMHIC SEE PART V FOR DETAIL 2117726 INSURANCE PREMIUMS false SCHEDULE L, PART IV, LINE 1(b) RELATIONSHIP BETWEEN INTERESTED PERSON AND THE ORGANIZATION COLEEN COLLINS, A KEY EMPLOYEE OF AMERICAN COUNCIL ON EDUCATION, SERVED ON THE BOARD OF AMHIC. X 1 596670 COST 0 false false false OTHER PROGRAM SERVICES FORM 990, PART III, LINE 4D BUILDING OPERATIONS AND OTHER ANCILLARY SERVICES - ACE OWNS AND OPERATES THE NATIONAL CENTER FOR HIGHER EDUCATION LOCATED AT ONE DUPONT CIRCLE NW, WASHINGTON, DC. THROUGH ITS FACILITIES AND OFFICE SERVICES DEPARTMENT (FOS), ACE HOUSES SIXTEEN MEMBER ORGANIZATIONS AND THREE COMMERCIAL TENANTS, AND MANAGES ACCESS AND SECURITY OF THE BUILDING, PARKING GARAGE MAINTENANCE AND UP KEEP, CONFERENCE ROOM COORDINATION, AND OTHER DAY-TO-DAY OPERATIONS AND MAINTENANCE OF THE FACILITY. ACE'S PROCUREMENT AND DOCUMENT SOLUTIONS CENTER (PDSC) PROVIDES SERVICES TO ACE AND MORE THAN TWENTY EXTERNAL ORGANIZATIONS LOCATED AT OR NEAR THE NCHE BUILDING. THESE SERVICES INCLUDE PRINTING, MAILING, DUPLICATING, DOCUMENT IMAGING, PROCUREMENT, TELECOMMUNICATIONS, PUBLICATION STORAGE AND FULFILLMENT, AND SHIPPING. POLICY ANALYSIS AND RESEARCH - CONDUCTS RESEARCH AND CONVENES RESEARCHERS AND POLICY MAKERS TO STUDY ISSUES OF INTEREST TO THE HIGHER EDUCATION COMMUNITY. CURRENT ACTIVITIES OF THE CENTER FOCUS ON STUDENT FINANCIAL AID, DEMOGRAPHIC TRENDS IN HIGHER EDUCATION, ACADEMIC PREPARATION FOR COLLEGE, AND THE COLLEGE PRESIDENCY, AMONG OTHER TOPICS. MEMBERS FORM 990, PART VI, SECTION A, LINE 6 AND LINE 7A THE COUNCIL SHALL HAVE FOUR CLASSES OF VOTING MEMBERS (NATIONAL ASSOCIATION MEMBERS, INSTITUTIONAL MEMBERS, ORGANIZATIONAL MEMBERS, AND AFFILIATE MEMBERS). ACE MAINTAINS A MEMBERSHIP OF 1,800 INSTITUTIONS AND MEMBERSHIP IS A PREREQUISITE TO SERVING ON ACE'S BOARD. AT ITS ANNUAL MEETING, THE GENERAL MEMBERSHIP OF ACE VOTES ON A SLATE OF NOMINEES TO THE BOARD OF DIRECTORS. 990 REVIEW PROCESS FORM 990, PART VI, SECTION B, LINE 11 A DRAFT VERSION OF INTERNAL REVENUE SERVICE (IRS) FORMS 990 AND 990-T ARE INITIALLY CIRCULATED AMONG ACE'S ENTIRE BOARD PRIOR TO THE SPRING MEETING OF THE BOARD OF DIRECTORS. THE PURPOSE OF MAKING THE FORMS AVAILABLE TO THE ENTIRE BOARD MEMBERSHIP IS TO SOLICIT QUESTIONS AND/OR SUGGESTIONS FOR IMPROVEMENTS TO THE DRAFT. ACE'S CHIEF FINANCIAL OFFICER (CFO) COMPILES ALL COMMENTS RECEIVED FROM THE BOARD AND RESOLVES THOSE MATTERS PRIOR TO THE BOARD MEETING. ACE'S AUDIT COMMITTEE OF THE BOARD OF DIRECTORS IS CHARGED WITH COMPLIANCE OVERSIGHT, INCLUDING THE ACCURATE AND TIMELY FILING OF FORMS 990 AND 990-T. THE AUDIT COMMITTEE ALSO PERIODICALLY RECEIVES UPDATES CONCERNING CHANGES TO THE FORMS PROMULGATED BY THE IRS. PRIOR TO FILING THE FORMS, THE COMMITTEE RECEIVES A REPORT FROM THE CFO DESCRIBING ANY QUESTIONS OR COMMENTS THAT HAVE BEEN CLEARED PRIOR TO THE BOARD MEETING. BARRING ANY ADDITIONAL QUESTIONS OR CONCERNS ARISING DURING THE COMMITTEE'S MEETING, APPROVAL TO FILE THE INFORMATION RETURNS IS VOTED UPON BY THE COMMITTEE'S MEMBERS. CONFLICT OF INTEREST FORM 990, PART VI, SECTION B, LINE 12C ALL RESPONSES TO CONFLICT OF INTEREST QUESTIONNAIRES ARE RECEIVED BY GENERAL COUNSEL. ANY QUESTIONS ARE ADDRESSED AND RESOLVED. ANY OUTSIDE BUSINESS RELATIONSHIPS WITH BUSINESSES DOING BUSINESS WITH ACE ARE DISCLOSED TO BOARD AUDIT COMMITTEE. IN THE EVENT ANY CONFLICT IS IDENTIFIED, THE AUDIT COMMITTEE MAY APPOINT A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE TRANSACTION. THE AUDIT COMMITTEE SHALL DETERMINE WHETHER ACE CAN FIND A MORE ADVANTAGEOUS TRANSACTION ACTION THAT WOULD NOT GIVE RISE TO A CONFLICT OF INTEREST. IF THE AUDIT COMMITTEE BY MAJORITY VOTE OF DISINTERESTED MEMBERS DETERMINES A MORE ADVANTAGEOUS TRANSACTION NOT PRESENTING A CONFLICT OF INTEREST IS NOT REASONABLY POSSIBLE AND THAT THE TRANSACTION IS IN ACE'S BEST INTERESTS AND IS FAIR AND REASONABLE, THE AUDIT COMMITTEE MAY DETERMINE TO ENTER OR CONTINUE THE TRANSACTION OR ARRANGEMENT. THE INDIVIDUAL WOULD BE PROHIBITED FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND DECISIONS IN THE TRANSACTION. COMPENSATION REVIEW FOR TOP MANAGEMENT OFFICIAL FORM 990, PART VI, SECTION B, LINE 15A BEGINNING IN THE SPRING, ACE'S COMPENSATION COMMITTEE, THROUGH THE ASSISTANT VICE PRESIDENT OF HUMAN RESOURCES, WILL OBTAIN COMPARABILITY DATA TO SUPPORT SALARY ADJUSTMENTS THAT WILL BECOME EFFECTIVE FOR THE FISCAL YEAR BEGINNING OCTOBER 1. AS HAS BEEN PAST PRACTICE, ASSISTANT VICE PRESIDENT FOR HUMAN RESOURCES OBTAINS A COMPENSATION REPORT FROM AN INDEPENDENT COMPENSATION CONSULTANT, PROVIDING COMPARABILITY DATA FOR THE PRESIDENT BASED ON THE DATA AVAILABLE FOR SIMILAR POSITIONS IN THE WASHINGTON, DC AREA. THIS DATA IS EXPECTED TO BE COLLECTED EVERY 2 YEARS. THE COMPENSATION COMMITTEE MEETS IN EXECUTIVE SESSION EACH SEPTEMBER. THE BOARD CHAIR RECOMMENDS THE SALARY FOR THE PRESIDENT. THE MATTER WILL BE OPEN FOR DISCUSSION AND VOTE BY THE COMMITTEE, WITH ANY MEMBER OF THE COMMITTEE WITH A CONFLICT OF INTEREST BEING RECUSED FROM THE DISCUSSION AND VOTE ON THE MATTER ON WHICH THE MEMBER HAS A CONFLICT. MINUTES SHOWING DELIBERATION AND DECISION WILL BE TAKEN AT THE MEETING BY THE GENERAL COUNSEL. MINUTES WILL BE PREPARED PROMPTLY AND SHARED WITH THE BOARD SECRETARY FOR REVIEW. AFTER THE BOARD SECRETARY HAS APPROVED THE MINUTES, BUT NO LATER THAN THE NEXT MEETING OF THE EXECUTIVE COMMITTEE (WHETHER SITTING AS THE COMPENSATION COMMITTEE OR THE EXECUTIVE COMMITTEE), THE MINUTES WILL BE SHARED WITH THE COMMITTEE FOR APPROVAL. AFTER THE MINUTES HAVE BEEN APPROVED, THE BOARD SECRETARY SHALL SIGN THE MINUTES, AND THEY WILL BE MAINTAINED BY THE DEPARTMENT OF HUMAN RESOURCES IN THE OFFICIAL FILES OF THE COMPENSATION COMMITTEE. THE PRESIDENT (CEO) - PROCESS LAST UNDERTAKEN IN AUGUST 2009 and August 2011. COMPENSATION REVIEW FOR OTHER OFFICERS AND KEY EMPLOYEES FORM 990, PART VI, SECTION B, LINE 15B BEGINNING IN THE SPRING, ACE'S COMPENSATION COMMITTEE, THROUGH THE ASSISTANT VICE PRESIDENT OF HUMAN RESOURCES, WILL OBTAIN COMPARABILITY DATA TO SUPPORT SALARY ADJUSTMENTS THAT WILL BECOME EFFECTIVE FOR THE FISCAL YEAR BEGINNING OCTOBER 1. AS HAS BEEN PAST PRACTICE, THE ASSISTANT VICE PRESIDENT OBTAINS A COMPENSATION REPORT FROM AN INDEPENDENT COMPENSATION CONSULTANT, PROVIDING COMPARABILITY DATA FOR OTHER OFFICERS AND KEY EMPLOYEES IN SIMILAR POSITIONS IN THE WASHINGTON, DC AREA. THIS DATA IS EXPECTED TO BE COLLECTED EVERY 2 YEARS (OR AS NEEDED) IN THE ODD-NUMBERED YEARS, AND WAS LAST UNDERTAKEN IN AUGUST 2009. THE COMPENSATION PHILOSOPHY IN THE ACE EMPLOYEE HANDBOOK IS THE GUIDING POLICY. EACH SEPTEMBER, THE FOLLOWING INDEPENDENT INDIVIDUALS WILL MEET TO REVIEW THE DATA, ANNUAL PERFORMANCE REVIEW AND PROPOSED SALARY ADJUSTMENT FOR EACH KEY EMPLOYEE: PRESIDENT, ASSISTANT VICE PRESIDENT FOR HUMAN RESOURCES AND THE AREA SENIOR VICE PRESIDENT. (THE ASSISTANT VICE PRESIDENT SHALL NOT BE PRESENT FOR REVIEW OF HER OWN PROPOSED SALARY.) THE ASSISTANT VICE PRESIDENT KEEPS MINUTES OF THE MEETINGS AND RETAINS THEM IN FILES OF THE RELEVANT KEY EMPLOYEE AND IN A FILE OF KEY EMPLOYEE COMPENSATION DECISIONS MAINTAINED BY THE ASSISTANT VICE PRESIDENT FOR AUDIT/GOVERNANCE PURPOSES. THE COUNCIL ALSO PROVIDES THE COMPENSATION COMMITTEE OF THE BOARD WITH AN OPPORTUNITY TO REVIEW LEVELS OF COMPENSATION FOR EACH OF THESE INDIVIDUALS. THE COMPENSATION COMMITTEE APPROVED COMPENSATION LEVELS FOR THE COUNCIL'S OFFICERS AND KEY EMPLOYEES SEPTEMBER 2009 AND DOCUMENTED ITS APPROVAL IN THE MINUTES. OTHER OFFICERS - PROCESS LAST UNDERTAKEN IN AUGUST 2009 and August 2011 SENIOR VICE PRESIDENT, DIVISION OF GOVERNMENT AND PUBLIC AFFAIRS SENIOR VICE PRESIDENT, PROGRAMS AND SERVICES CHIEF FINANCIAL OFFICER, TREASURER KEY EMPLOYEES - PROCESS LAST UNDERTAKEN IN AUGUST 2009 and August 2011 VICE PRESIDENT, ADVANCEMENT ASSISTANT VICE PRESIDENT, HUMAN RESOURCES VICE PRESIDENT, ADMINISTRATION, AND CHIEF INFORMATION OFFICER GENERAL COUNSEL ASSISTANT VICE PRESIDENT, LIFELONG LEARNING EXECUTIVE DIRECTOR, HIGHER EDUCATION FOR DEVELOPMENT VICE PRESIDENT AND EXECUTIVE DIRECTOR, GEDTS. GOVERNING DOCUMENTS FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC TO THE EXTENT THE FINANCIAL STATEMENTS ARE INCLUDED IN THE ANNUAL REPORT ON THE PUBLICALLY AVAILABLE ACE WEBSITE. GOVERNING DOCUMENTS AND THE CONFLICT OF INTEREST POLICY ARE PROVIDED TO THE PUBLIC UPON REQUEST. OTHER CHANGES IN NET ASSETS FORM 990, PART XI, LINE 5 UNREALIZED LOSS <1,856,103> POSTRETIREMENT CHANGE <146,993> GAIN ON INTEREST RATE SWAP 135,939 ----------- TOTAL CHANGE IN NET ASSETS <1,867,157> GED TESTING SERVICE LLC 5601 GREEN VAL DR 220 BLOOMINGTON MN 55437 275436001 TESTING PROGRAM DE false false false