2011-12-20T13:54:42-06:00 2011-08-31 LARSONALLEN LLP 2900 SOUTH QUINCY ST SUITE 150 ARLINGTON VA 22206 990 2010-09-01 521727202 GENERAL AGENTS AND MANAGERS CONFERENCE FOUNDATION GENE 5714994315 2901 TELESTAR COURT NO 140 FALLS CHURCH VA 22042 KATHRYN KELLAM 5714994315 2011-12-05 1 YUNG-HEE GALLINARO 7039985100 2010 2016-02-24 21:20:13Z GAMA FOUNDATION FOR EDUCATION KATHRYN KELLAM 2901 TELESTAR COURT NO 140 FALLS CHURCH VA 22042 710409 0 X GAMAFOUNDATION.ORG X 1990 DC PROVIDE RESEARCH AND EDUCATION MATERIALS TO THOSE IN LIFE INSURANCE AND RELATED FINANCIAL SERVICES. 16 16 0 17 0 0 678982 572289 0 0 37874 49220 -12204 34760 704652 656269 0 0 0 0 169238 174315 0 0 159928 986964 751714 1156202 926029 -451550 -269760 4170255 4035495 2335 12860 4167920 4022635 TO PROVIDE RESEARCH AND EDUCATION MATERIALS TO THOSE INVOLVED IN THE LIFE INSURANCE AND RELATED FINANCIAL SERVICES FIELD. 0 0 180566 EDUCATION AND RESEARCH - TO PROVIDE RESEARCH AND EDUCATION MATERIALS TO THOSE INVOLVED IN THE LIFE INSURANCE AND RELATED FINANCIAL SERVICES FIELD. 180566 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 1 0 0 1 0 0 0 0 0 0 0 0 0 1 5 0 1 0 0 0 0 0 0 0 0 0 0 0 X 16 16 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X BETTY PATTISON 5714994328 2901 TELESTAR CT 140 FALLS CHURCH VA 22042 REGINALD N RABJOHNS 1.00 X X 0 0 0 ROBERT J FASHANO 1.00 X X 0 0 0 RICHARD T CLEARY 1.00 X X 0 0 0 JOSEPH SPARACIO 1.00 X X 0 0 0 ROBERT H BACCIGALUPI 1.00 X 0 0 0 EDWARD G DEUTSCHLANDER 1.00 X 0 0 0 KENNETH G GALLACHER 1.00 X 0 0 0 JEFFREY SCOTT GOLAN 1.00 X 0 0 0 JEFFREY R HUGHES 1.00 X 0 0 0 ROBERT DEMING LOWREY 1.00 X 0 0 0 RICHARD R MCCLOSKEY 1.00 X 0 0 0 DAVID C PORTER 1.00 X 0 0 0 GREGORY RADCLIFF 1.00 X 0 0 0 MARK MICHAEL ROONEY 1.00 X 0 0 0 FRANK J SCARPA 1.00 X 0 0 0 COLLEEN A SCHUENEMAN 1.00 X 0 0 0 GREGORY R SMITH 1.00 X 0 0 0 ATHAN P VORILAS 1.00 X 0 0 0 HARRY HOOPIS 1.00 X 0 0 0 KATHRYN KELLAM 40.00 X 155328 0 9553 155328 0 9553 1 0 1 0 GAMA INTERNATIONAL 2901 TELESTAR CT 140 FALLS CHURCH VA 22042 MANAGEMENT FEE 309720 1 54140 518149 54140 572289 49220 49220 34760 34760 54140 54140 54140 0 656269 0 0 83980 174315 47065 83671 43579 135405 36559 64995 33851 498 498 12545 12545 6817 6817 93292 80900 10392 2000 27019 27019 44919 2293 25706 16920 62963 56990 5973 38112 13537 682 23893 18566 11899 6667 2215 2215 BAD DEBT EXPENSE 302086 302086 STORAGE 2371 2371 MISCELLANEOUS 2247 2221 26 INTERNET SERVICES 1800 1800 DUES AND SUBSCRIPTION 647 647 212 212 926029 180566 585535 159928 196085 181295 59298 2463000 2134420 22215 3215 77779 64446 11899 13333 1477056 1643934 4170255 4035495 2335 12860 2335 12860 X 1550096 1563282 2617824 2459353 4167920 4022635 4170255 4035495 X -269760 124475 X X 0 1 1 X 0 X 731401 669744 542006 684267 572289 3199707 731401 669744 542006 684267 572289 3199707 3199707 113450 150685 50749 41455 49220 405559 2864 3735 3275 650 10524 3615790 0.88490 0.88920 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 4772 4772 0 73007 59674 13333 13333 656269 926029 -269760 124475 124475 -145285 780744 124475 124475 656269 0 656269 926029 0 926029 0 926029 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X: THE FOUNDATION FOLLOWS THE ACCOUNTING STANDARD FOR CONTINGENCIES IN EVALUATING UNCERTAIN TAX POSITIONS. SHOULD ITS EXEMPT STATUS BE CHALLENGED IN THE FUTURE, THE FOUNDATION'S 2008, 2009, AND 2010 TAX YEARS ARE OPEN FOR EXAMINATION BY FEDERAL, STATE AND LOCAL AUTHORITIES. AUCTION 108280 54140 54140 54140 108280 54140 54140 54140 54140 0 X X X 0 0 0 0 0 0 0 0 0 KATHRYN KELLAM 155328 0 0 0 0 0 7750 0 1803 0 164881 0 0 0 FOR THE PURPOSES OF FORM 990 REPORTING, THE COMPENSATION FOR THE CEO OF THE FOUNDATION REPORTED ON THE FORM 990, PART VII WAS PAID AS PART OF REIMBURSEMENT EXPENSES INCLUDED ON FORM 990, PART IX, LINE 11A. KENNETH G GALLACHER TRUSTEE 309720 MANAGEMENT FEE PAID TO GAMA INTERNATIONAL 0 JEFFREY R HUGHES TRUSTEE 309720 MANAGEMENT FEE PAID TO GAMA INTERNATIONAL 0 FORM 990, SCHEDULE L, PART IV EXPLANATION OF MANAGEMENT FEE PAID TO GAMA INTERNATIONAL THE GENERAL AGENTS AND MANAGERS ASSOCIATION FOUNDATION HAS AN AGREEMENT WITH AN UNRELATED 501(C)(6) ORGANIZATION, GAMA INTERNATIONAL (GAMA INT'L), FOR WHICH GAMA INT'L PROVIDES MANAGEMENT SERVICES TO THE GENERAL AGENTS AND MANAGERS ASSOCIATION FOUNDATION. MR. KENNETH G. GALLACHER, BOARD PRESIDENT OF GAMA INTERNATIONAL RECEIVED NO COMPENSATION FROM THE FOUNDATION. JEFFREY R. HUGHES, CHIEF EXECUTIVE OFFICER OF GAMA INTERNATIONAL RECEIVED NO COMPENSATION FROM THE FOUNDATION. X AUCTION ITEMS 69 54140 FAIR MARKET VALUE 0 0 0 FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE SHALL CONSIST OF THE OFFICERS OF THE FOUNDATION. THIS COMMITTEE SHALL BE CHAIRED BY THE CHAIRMAN OF THE FOUNDATION. THIS COMMITTEE SHALL BE EMPOWERED TO MAKE DECISIONS PERTINENT TO THE NORMAL OPERATION OF THE FOUNDATION. THE COMMITTEE ON FINANCE AND ADMINISTRATION SHALL BE CHAIRED BY THE TREASURER AND WILL, IN ADDITION TO THE TREASURER, HAVE (5) MEMBERS, THE CHAIRMAN, IMMEDIATE PAST CHAIRMAN, VICE CHAIRMAN AND THE GAMA INTERNATIONAL PRESIDENT AND THE GAMA INTERNATIONAL CHIEF EXECUTIVE OFFICER. THE COMMITTEE SHALL OVERSEE THE FINANCIAL ASSETS AND LIABILITIES OF THE FOUNDATION; PREPARE AND SUBMIT ANNUALLY TO THE BOARD OF TRUSTEES FOR CONSIDERATION A PROPOSED BUDGET FOR THE NEXT FISCAL YEAR; AND REVIEW THE FOUNDATION'S ANNUAL AUDIT AND EXPENSE AND INVESTMENT POLICIES, INCLUDING THE FOUNDATION'S ENDOWMENT FUND. THIS COMMITTEE SHALL BE RESPONSIBLE TO THE EXECUTIVE COMMITTEE OF THE FOUNDATION. FORM 990, PART VI, SECTION A, LINE 3 THE GENERAL AGENTS AND MANAGERS ASSOCIATION FOUNDATION HAS AN AGREEMENT WITH AN UNRELATED 501(C)(6)ORGANIZATION, GAMA INTERNATIONAL (GAMA INT'L), FOR WHICH GAMA INT'L PROVIDES THE FOLLOWING SERVICES TO THE GAMA FOUNDATION: THE CEO OF THE FOUNDATION WORKS 100% FOR THE FOUNDATION BUT IS PAID BY GAMA INT'L. THE CEO HAS DIRECT ACCOUNTABILITY TO THE BOARD OF DIRECTORS OF THE FOUNDATION. GAMA INT'L ALSO PROVIDES ADDITIONAL STAFF SUPPORT FOR PROJECT MANAGEMENT, PROMOTION OF PROGRAMS, MARKETING AND COMMUNICATIONS SERVICES, FUNDRAISING ACTIVITIES, FINANCIAL AND ADMINISTRATIVE OVERSIGHT OF THE FOUNDATION'S POLICIES. IN ADDITION, THE FOUNDATION RECEIVES GENERAL SUPPORT FOR OPERATIONS, INFORMATION SERVICES, HUMAN RESOURCES AND LEGAL SERVICES. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS PREPARED BY AN OUTSIDE ACCOUTING FIRM AND IS REVIEWED BY THE CEO OF THE FOUNDATION AND THE SENIOR DIRECTOR OF FINANCE OF GAMA INTERNATIONAL. DRAFT IS ALSO REVIEWED BY THE FOUNDATION TREASURER AND THE FINANCE COMMITTEE PRIOR TO BEING FILED WITH THE IRS. THE FINAL COPY IS PRESENTED TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C THE POLICY AND ITS APPLICATION SHALL BE REVIEWED ANNUALLY FOR THE INFORMATION AND GUIDANCE OF TRUSTEES AND OFFICERS, EACH OF WHOM HAS A CONTINUING RESPONSIBILITY TO SCRUTINIZE THEIR TRANSACTIONS AND OUTSIDE BUSINESS INTERESTS AND RELATIONSHIPS FOR POTENTIAL CONFLICTS OF INTEREST, AND MAKE SUCH DISCLOSURES AS DESCRIBED IN THIS POLICY. AS ADMINISTERED BY THE CHIEF EXECUTIVE, EACH TRUSTEE WILL BE ASKED TO COMPLETE A CERTIFICATION OF AGREEMENT WITH THE POLICY AND DISCLOSURE OF ANY KNOWN CONFLICTS OF INTEREST UPON HIS OR HER ELECTION OR RE-ELECTION TO THE BOARD AND ANNUALLY THEREAFTER. ALL CERTIFICATIONS SHALL BE REVIEWED BY THE BOARD AS APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 15A THE FOUNDATION BOARD OF DIRECTORS DETERMINE THE COMPENSATION OF THE FOUNDATION'S CEO. THE PROCESS OF DETERMINING COMPENSATOIN IS BASED ON COMPENSATOIN SURVEYS, WRITTEN EMPLOYEMENT CONTRACT AND APPROVAL BY THE BOARD OR EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS AVAILABLE TO THE PUBLIC. HOWEVER, THE FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 5: NET UNREALIZED GAINS ON INVESTMENTS: 124,475. THE ORGANIZATION DOES HAVE A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR FORM 990, PART XII, LINE 2C OVERSIGHT OF THE AUDIT. THE PROCESS DID NOT CHANGE FROM PRIOR YEAR.