2023-02-07T17:00:54-06:00 2022-06-30 135565207 KPMG LLP 8350 BROAD STREET SUITE 900 MCLEAN VA 22102 990 2021-07-01 540485595 UNIVERSITY OF VIRGINIA ALUMNI ASSOCIATION UNIV 4342439000 PO BOX 400314 CHARLOTTESVILLE VA 22904 GARRETTE ASHLEY CFO 4342439000 2023-02-06 1 GARRETTE ASHLEY XXX-XX-XXXX JONATHAN LIST P01679255 7032868000 2023-02-06 3 AAL1 IAL1 2021 2023-03-07 01:45:13Z LILY E WEST 211 EMMET ST S CHARLOTTESVILLE VA 22903 61097856 0 X WWW.ALUMNI.VIRGINIA.EDU X 1838 VA BUILD THE STRONGEST BOND AMONG ALUMNI AND BETWEEN ALUMNI AND THE UNIV. OF VIRGINIA (SEE SCH O) 39 39 102 2700 374714 0 50800255 48407249 4924236 6224477 571510 649746 83982 124695 56379983 55406167 75420305 41891329 0 0 7643758 7165615 0 0 1256698 3795907 5962829 86859970 55019773 -30479987 386394 582039961 556619387 161380411 162414748 420659550 394204639 X BUILD THE STRONGEST BOND AMONG ALUMNI AND BETWEEN ALUMNI AND THE UNIVERSITY BY SERVING ALL ALUMNI AND STUDENTS; BEING THE CENTER FOR ENGAGING AND CONNECTING THE GLOBAL UVA COMMUNITY; ACTING AS A CONDUIT TO KEEP ALUMNI INFORMED AND PROVIDING VEHICLES (SEE SCH O) 0 0 43023829 41891329 1983264 THE ASSOCIATION, THROUGH ITS UVA FUND PROGRAM, SERVES THE UVA COMMUNITY BY OFFERING FINANCIAL AND ENDOWMENT MANAGEMENT SERVICES. WITH MORE THAN 3,700 ACCOUNTS, THE UVA FUND PROVIDES EFFICIENT AND COST-EFFECTIVE SUPPORT FOR OVER 700 STUDENT ORGANIZATIONS, ALUMNI CLUBS, ASSOCIATED ORGANIZATIONS, AND HUNDREDS OF ENDOWMENTS AND RESTRICTED ACCOUNTS FOR ORGANIZATIONS AND UNITS ACROSS UVA. THE ASSOCIATION ALSO MANAGES AND ADMINISTERS NUMEROUS STUDENT SCHOLARSHIPS, AND, THROUGH ITS JEFFERSON TRUST PROGRAM, PROVIDES ANNUAL GRANTS TO PROJECTS THAT ENHANCE THE UNIVERSITY AS A PREEMINENT GLOBAL INSTITUTION OF HIGHER LEARNING. 5282835 3021673 HOMECOMINGS & REUNIONS - THROUGH A SERIES OF IN-PERSON AND DIGITAL EVENTS HELD THROUGHOUT THE YEAR, THE ASSOCIATION WELCOMES THOUSANDS OF ALUMNI BACK TO UVA IN MEANINGFUL, SOCIAL, AND EDUCATIONAL WAYS THAT STRENGTHEN THE BOND BETWEEN ALUMNI AND THEIR ALMA MATER. ANNUAL REUNIONS WEEKENDS BRINGS ALUMNI BACK BASED ON CLASS YEAR, WHILE OTHER REUNIONS GEARED FOR SPECIFIC DEMOGRAPHIC AND/OR AFFINITY GROUPS PROVIDE UNIQUE OPPORTUNITIES TO RECONNECT WITH THE UNIVERSITY THROUGHOUT A LIFETIME. ADDITIONAL PROGRAMMING INCLUDES SOCIAL AND EDUCATIONAL EVENTS SURROUNDING FOOTBALL GAMES AND MORE THAN 150 STUDENT EVENTS DESIGNED TO BUILD COMMUNITY AND CLASS IDENTITY. 1529330 844826 ALUMNI COMMUNICATIONS - THE ASSOCIATION IS A VIBRANT CENTER OF COMMUNICATIONS FOR ALUMNI, PARENTS, STUDENTS AND FACULTY, USING A VARIETY OF MEDIA PLATFORMS. THE ASSOCIATION PROVIDES TIMELY AND ACCURATE COMMUNICATION CHANNELS TO ITS CONSTITUENTS, KEEPING THEM WELL-INFORMED AND WELL-CONNECTED TO THE UNIVERSITY AND TO ONE ANOTHER. THE ASSOCIATION PUBLISHES THE AWARD-WINNING UVA MAGAZINE, WHICH IS DISTRIUTED TO ALL ALUMMI, STUDENTS, PARENTS, AND FRIENDS ON A QUARTERLY BASIS. THIS PUBLICATION IS SUPPLEMENTED BY WEBSITES, SOCIAL MEDIA, ELECTRONIC NEWSLETTERS AND VIDEOS. 49835994 1 1 0 0 0 0 0 0 0 1 1 1 0 0 1 1 1 0 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 492 0 1 102 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 39 39 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AR CA CO DC KS KY ME MD MA MI MN NH NJ NY NV NC ND OK OR PA RI SC TN UT WA WV WI X X GARRETTE ASHLEY 4342439000 ALUMNI HALL CHARLOTTESVILLE VA 229030446 JAMES G ALDIGE IV MANAGER 1.00 0.00 X 0 0 0 CORY L ALEXANDER MANAGER 1.00 0.00 X 0 0 0 WYATT G ANDREWS MANAGER 1.00 0.00 X 0 0 0 ROSS BAIRD MANAGER 1.00 0.00 X 0 0 0 GREGORY W BROWN MANAGER 1.00 0.00 X 0 0 0 STEPHEN S CRAWFORD MANAGER 1.00 0.00 X 0 0 0 TERESA R DIMARCO MANAGER 1.00 0.00 X 0 0 0 PATRICIA K EPPS MANAGER 1.00 0.00 X 0 0 0 PATRICK G FOSS MANAGER 1.00 0.00 X 0 0 0 BRETT J GALLAGHER MANAGER 1.00 0.00 X 0 0 0 STEPHEN P GIBSON MANAGER 1.00 0.00 X 0 0 0 TATIA D GRANGER MANAGER 1.00 0.00 X 0 0 0 MICHAEL C GUANZON MANAGER 1.00 0.00 X 0 0 0 MARIA T GUTIERREZ MANAGER 1.00 0.00 X 0 0 0 RUTH F HAILE MANAGER 1.00 0.00 X 0 0 0 THOMAS B W HALL MANAGER 1.00 0.00 X 0 0 0 KURT B HARRISON MANAGER 1.00 0.00 X 0 0 0 R PHILIP HERGET III MANAGER 1.00 0.00 X 0 0 0 NICHOLAS T JORDAN MANAGER 1.00 0.00 X 0 0 0 WILLIAM L KITCHEL III MANAGER 1.00 0.00 X 0 0 0 ALICE A LLOYD MANAGER 1.00 0.00 X 0 0 0 M ELIZABETH MAGILL MANAGER 1.00 0.00 X 0 0 0 THOMAS B MANGAS CHAIR 1.00 0.00 X X 0 0 0 COURTNEY C BYRD METZ MANAGER 1.00 0.00 X 0 0 0 KATHERINE A MOORE VICE-CHAIR 1.00 0.00 X X 0 0 0 BLAKE D MORANT MANAGER 1.00 0.00 X 0 0 0 MARC B MOYERS MANAGER 1.00 0.00 X 0 0 0 STEPHEN A MURRAY MANAGER 1.00 0.00 X 0 0 0 PAUL NOLDE MANAGER 1.00 0.00 X 0 0 0 SHARON M OWLETT MANAGER 1.00 0.00 X 0 0 0 VISHAL M PATEL MANAGER 1.00 0.00 X 0 0 0 MARTHA S PELLINGTON MANAGER 1.00 0.00 X 0 0 0 SIMONE L POLLARD MANAGER 1.00 0.00 X 0 0 0 R KENNON POTEAT III MANAGER 1.00 0.00 X 0 0 0 FRANK J QUAYLE III MANAGER 1.00 0.00 X 0 0 0 CATHERINE L ROBB MANAGER 1.00 0.00 X 0 0 0 PAUL R SHIN MD MANAGER 1.00 0.00 X 0 0 0 KAREN R STOKES MANAGER 1.00 0.00 X 0 0 0 FATIMAH E WILLIAMS MANAGER 1.00 0.00 X 0 0 0 LESLIE H WILLIAMS JR MANAGER 1.00 0.00 X 0 0 0 WHITTINGTON W CLEMENT MANAGER 1.00 0.00 X 0 0 0 MARGARET M ANDERSON TREASURER & CFO 40.00 0.00 X 178431 0 18268 LILY E WEST PRESIDENT AND CEO 40.00 0.00 X 356404 0 44725 TERRY LOCKARD SECRETARY & CHIEF OF STAFF 40.00 0.00 X 71923 0 25859 RICHARD GARD VP COMMUNICATIONS 40.00 0.00 X 178194 0 32129 SUSAN B KLOBUCHAR CMO 40.00 0.00 X 163230 0 37389 ALEXANDER B NEWELL DIRECTOR ENTERPRISE IT 40.00 0.00 X 128034 0 34132 COURTNEY M BIBB DIRECTOR DEVELOPMENT 40.00 0.00 X 135453 0 28316 ASHLEY M CULLOP CDO 40.00 0.00 X 154689 0 31749 TRACY R BURPEE SR. DIRECTOR HUMAN RESOURCES 40.00 0.00 X 134317 0 14200 BRENT J PERCIVAL ED JEFFERSON TRUST 40.00 0.00 X 153777 0 30632 1654452 0 297399 15 0 1 0 UNIV OF VA INVESTMENT MGMT CO 701 E WATER ST 4TH FL CHARLOTTESVILLE VA 22902 INVESTMENT MGMT FEES 1090695 LANE PRESS PO BOX 130 BURLINGTON VT 05402 PRINTING PUBLISHER 441757 RE LEE & SON INC 2811 HYDRAULIC ROAD CHARLOTTESVILLE VA 22901 RENOVATION 378709 ARAMARK SERVICEMASTER 1101 MARKET ST PHILADELPHIA PA 19107 REPAIRS/MAINTENANCE 251413 SYNERGI PARTNERS INC PO BOX 5599 FLORENCE SC 29502 CONSULTING 212124 6 333283 48073966 5922536 48407249 UVA CONTRACTUAL 900099 2473376 2473376 ADMIN FEES 900099 1983264 1983264 PROGRAM FEES 900099 1108205 1108205 ADVERTISING 511120 429449 54735 374714 COMMISSIONS 900099 221033 221033 9150 9150 6224477 650385 650385 26760 26760 97935 0 97935 97935 97935 5691050 5691689 -639 -639 -639 55406167 5849763 374714 774441 37959228 37959228 3932101 3932101 1195037 696656 486332 12049 4406764 2905141 914076 587547 477621 307846 111515 58260 704215 483606 159936 60673 381978 247382 91213 43383 272835 49251 203818 19766 52921 33993 17883 1045 67600 67600 1118627 1118627 493937 79437 378500 36000 84700 70363 144 14193 352657 178088 23817 150752 284547 249003 28490 7054 192814 78875 86190 27749 24779 16772 939 7068 301221 115914 138786 46521 195789 104311 74127 17351 ALUMNI AFFAIRS 1820955 1661003 17419 142533 PRINTING & PUBLICATIONS 652797 646994 5584 219 BAD DEBT EXPENSE 46650 20030 2085 24535 55019773 49835994 3927081 1256698 40905219 30393072 5101963 4150684 367943 220236 11185022 7643655 3821596 3541367 155805298 122730932 370320062 390486032 5717880 5097064 582039961 556619387 776100 1024037 160604311 161390711 161380411 162414748 X 113513787 103492377 307145763 290712262 420659550 394204639 582039961 556619387 X 386394 -25814221 -1027084 X 0 1 X 1 0 X 41585809 36452281 45505704 50800255 48407249 222751298 41585809 36452281 45505704 50800255 48407249 222751298 14853544 207897754 1119715 1443378 1243454 706482 775080 5288109 228039407 30572573 0.91170 0.92890 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 420659550 48073965 -26283102 6682455 41563320 394204638 285313304 50388434 164240258 5420038 73862408 420659550 267737544 44899410 17197810 7327218 37194242 285313304 258782133 35750238 18183656 8774699 36203784 267737544 239202040 40396167 31245667 8941588 43120153 258782133 0.26254 0.41693 0.32053 1 0 112388 112388 8046149 5821916 2224233 2350865 1711589 639276 675620 110150 565470 3541367 GROWTH EQUITY 60196470 F LONG/SHORT EQUITY 56913425 F REAL ESTATE 23453434 F CREDIT 61020775 F RESOURCES 47179515 F CASH AND ACCRUALS 15456699 F BUYOUT 20272620 F BONDS 51097708 F VENTURE CAPITAL 54895386 F 390486032 FUNDS RECEIVED & HELD FOR THE RELATED ORGANIZATIONS 155644988 OTHER LIABILITIES 3762080 ANNUITY & LIFE OBLIGATIONS 1983643 161390711 X 27446235 -25814221 -1027084 -26841305 54287540 1118627 1118627 55406167 53901146 0 53901146 1118627 1118627 55019773 PART V, LINE 4: THE ASSOCIATION'S ENDOWMENTS CONSIST OF APPROXIMATELY 3,700 INDIVIDUAL FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES IN FURTHERANCE OF THE ASSOCIATION'S MISSION, INCLUDING DONOR-RESTRICTED FUNDS, ENDOWMENTS, AND FUNDS DESIGNATED BY THE BOARD TO FUNCTION AS ENDOWMENTS. THE FUNDS SUPPORT SPECIFIC PROGRAMS, SCHOLARSHIPS, STUDENT ACTIVITES, AND UNIVERSITY-RELATED ORGANIZATIONS. PART X, LINE 2: THE ASSOCIATION IS EXEMPT FROM FEDERAL INCOME TAXES AS DEFINED BY SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (THE CODE) AND CLASSIFIED AS A PUBLIC CHARITY UNDER 509(A)(1) OF THE CODE. THE ASSOCIATION IS REQUIRED TO RECOGNIZE THE EFFECT OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN BASED ON A 'MORE LIKELY THAN NOT' OF BEING SUSTAINED BY A TAXING AUTHORITY THRESHOLD. THE ASSOCIATION DOES NOT BELIEVE IT HAS ANY UNCERTAIN TAX POSITIONS REQUIRED TO BE RECOGNIZED IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN FV OF BENEFICIAL INTERESTS IN TRUSTS -597,027. CHANGE IN VALUE OF TRUSTS AND ANNUITIES -430,057. 1 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES STUDENT RESEARCH & AID 8656 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES STUDENT RESEARCH & AID 46423 NORTH AMERICA 0 0 PROGRAM SERVICES STUDENT RESEARCH & AID 3483 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDENT RESEARCH & AID 29315 0 0 0 0 0 0 87877 0 87877 0 0 0 0 0 0 PART I, LINE 2: THE UVA FUND PROVIDES SUPPORT FOR AN EXTENSIVE RANGE OF EDUCATIONAL AND SCHOLARLY WORK REFLECTING INTERNATIONAL INTERESTS. THESE FUNDS PROMOTE THE ENGAGEMENT OF FACULTY AND STUDENTS IN THE DEVELOPMENT OF MULTIDISCIPLINARY SCHOLARSHIP AND RESEARCH PROJECTS THAT ADDRESS EQUAL AND SOCIAL JUSTICE, SUSTAINABLE ECONOMIC DEVELOPMENT, PUBLIC HEALTH, GLOBAL INTERCONNECTION, AND PUBLIC SERVICE. FUNDS ARE USED TO PAY FOR SPEAKERS, TRAVEL AND HANDS-ON LEARNING OPPORTUNITIES FOR STUDENTS AND FACULTY. PART I, LINE 3: FOREIGN EXPENDITURES ARE ACCOUNTED FOR ON THE ACCRUAL BASIS. PART III ACCOUNTING METHOD: 1 UNIVERSITY OF VIRGINIA PO BOX 40229 CHARLOTTESVILLE VA 22904 546001796 501(C)(3) 37959228 0 N/A N/A STUDENT, FACULTY & PROGRAM SUPPORT 1 0 GRANTS AND SCHOLARSHIPS 1072 3932101 N/A N/A PART I, LINE 2: THE UVA FUND SERVES THE UNIVERSITY COMMUNITY WITH FINANCIAL AND ENDOWMENT MANAGEMENT SERVICES, SCHOLARSHIP ADMINISTRATION, DONOR STEWARDSHIP, GRANT ASSISTANCE AND EMERGENCY STUDENT LOANS. SCHEDULE I, PART III THE ASSOCIATION, THROUGH ITS UVA FUND PROGRAM, MANAGES HUNDREDS OF RESTRICTED ENDOWMENTS, SCHOLARSHIPS AND OPERATING FUNDS FOR ORGANIZATIONS AND UNITS ACROSS THE UNIVERSITY COMMUNITY. DETAILED RECORDS OF ALL GIFTS AND OTHER INCOME ARE MAINTAINED. THE ACCOUNTING SOFTWARE USED BY THE UVA FUND PROVIDES AN ACCURATE AND DETAILED HISTORY OF EXPENDITURES FOR ALL FUNDS BY ACCOUNT. ALL GRANT REQUESTS ARE REVIEWED PRIOR TO PAYMENT TO ENSURE THEY MATCH THE FUND'S PURPOSE, CONFORM TO THE DONOR'S ORIGINAL INTENT, AND THAT ALL RESTRICTIONS ARE MET. X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 LILY E WEST PRESIDENT AND CEO 250580 0 75000 0 30824 0 28500 0 16225 0 401129 0 0 0 RICHARD GARD VP COMMUNICATIONS 166379 0 4108 0 7707 0 17049 0 15080 0 210323 0 0 0 SUSAN B KLOBUCHAR CMO 153905 0 4000 0 5325 0 15790 0 21599 0 200619 0 0 0 MARGARET M ANDERSON TREASURER & CFO 162814 0 9000 0 6617 0 17182 0 1086 0 196699 0 0 0 ASHLEY M CULLOP CDO 145638 0 4000 0 5051 0 14964 0 16785 0 186438 0 0 0 BRENT J PERCIVAL ED JEFFERSON TRUST 144770 0 4000 0 5007 0 14877 0 15755 0 184409 0 0 0 COURTNEY M BIBB DIRECTOR DEVELOPMENT 126778 0 3500 0 5175 0 13028 0 15288 0 163769 0 0 0 ALEXANDER B NEWELL DIRECTOR ENTERPRISE IT 123558 0 4000 0 476 0 12756 0 21376 0 162166 0 0 0 PART I, LINE 1A FARMINGTON COUNTRY CLUB DUES: THE ALUMNI ASSOCIATION PAYS FOR THE PRESIDENT AND CEO TO MAINTAIN A MEMBERSHIP IN THE FARMINGTON COUNTRY CLUB. FARMINGTON IS A SOCIAL CLUB USED BY THE EMPLOYEE FOR BUSINESS AND RECREATIONAL USE. THIS IS CONSIDERED FULLY TAXABLE AND IS THEREFORE INCLUDED IN THE EMPLOYEE'S W-2 TAXABLE WAGES. THE ALUMNI ASSOCIATION PAYS FOR SOCIAL CLUB DUES FOR THE FOLLOWING EMPLOYEE: 1. LILY E. WEST $30,170 PART I, LINE 3 DURING ITS ANNUAL REVIEW, THE COMPENSATION COMMITTEE OF THE BOARD OF MANAGERS REVIEWS THE COMPENSATION PACKAGE OF THE PRESIDENT AND CEO AND DETERMINES IF AN ANNUAL BONUS IS MERITED AND IF SO, THE AMOUNT. THIS REVIEW CONSIDERS PERFORMANCE AS WELL AS COMPARABILITY WITH SIMILAR POSITIONS AT OTHER INDEPENDENT ALUMNI ASSOCIATIONS AND THE RESULTS OF THE INDEPENDENT EXECUTIVE COMPENSATION ANALYSIS. X 410 5691688 FMV X HORSES 7 220000 FMV X OTHER 16 10848 FMV 1 0 1 1 PART I, COLUMN (B): THE AMOUNTS IN COLUMN (B) REPRESENT THE NUMBER OF CONTRIBUTIONS, NOT THE NUMBER OF ITEMS RECEIVED. PART I, LINE 32B: THE ALUMNI ASSOCIATION USES INDEPENDENT AGENTS AND BROKERS TO SELL AND PROCESS GIFTS OF SECURITIES. FORM 990, PART I, LINE 1 BUILD THE STRONGEST BOND AMONG ALUMNI AND BETWEEN ALUMNI AND THE UNIVERSITY OF VIRGINIA WHILE REPRESENTING THE INDEPENDENT VOICE AND PERSPECTIVE OF ALUMNI. FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: BUILD THE STRONGEST BOND AMONG ALUMNI AND BETWEEN ALUMNI AND THE UNIVERSITY BY SERVING ALL ALUMNI AND STUDENTS; BEING THE CENTER FOR ENGAGING AND CONNECTING THE GLOBAL UVA COMMUNITY; ACTING AS A CONDUIT TO KEEP ALUMNI INFORMED AND PROVIDING VEHICLES TO SHARE THEIR VOICES; AND BEING AN INVALUABLE PARTNER TO THE UNIVERSITY. FORM 990, PART VI, SECTION A, LINE 1A IN ACCORDANCE WITH ARTICLE X, SECTION 1 OF THE ASSOCIATION'S CORPORATE BYLAWS, THE BOARD OF MANAGERS MAY CREATE AN EXECUTIVE COMMITTEE AND SHALL APPOINT MANAGERS TO SERVE ON IT. THE COMMITTEE SHALL HAVE TWO OR MORE MEMBERS, WITH A MAJORITY OF THE COMMITTEE MEMBERSHIP CONSISTING OF MANAGERS, AND ALL OF WHOM SHALL SERVE AT THE PLEASURE OF THE BOARD. THE CURRENT EXECUTIVE COMMITTEE CONSISTS OF 12 MEMBERS, ALL OF WHICH ARE VOTING MANAGERS OF THE BOARD. PURSUANT TO ARTICLE II, SECTION 2 OF THE CORPORATE BYLAWS, THE EXECUTIVE COMMITTEE OF THE BOARD OF MANAGERS IS EMPOWERED TO ACT ON ANY MATTERS BETWEEN REGULAR BOARD MEETINGS WITH THE FOLLOWING EXCEPTIONS: THE EXECUTIVE COMMITTEE MAY NOT (I) FILL VACANCIES ON THE BOARD OR ON ANY OF ITS COMMITTEES; (II) AMEND THE ARTICLES OF INCORPORATION; (III) ADOPT, AMEND OR REPEAL THE BYLAWS; (IV) APPROVE A PLAN OF MERGER OR CONSOLIDATION; (V) APPROVE THE SALE, LEASE OR EXCHANGE, OR THE MORTGAGE, PLEDGE OR OTHER DISPOSITION OF ALL, OR SUBSTANTIALLY ALL, OF THE PROPERTY AND ASSETS OF THE ASSOCIATION; OR (VI) APPROVE REVOCATION OF VOLUNTARY DISSOLUTION PROCEEDINGS. FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY MANAGEMENT AND THE ASSOCIATION'S INDEPENDENT ACCOUNTING FIRM KPMG. FURTHER REVIEW IS PROVIDED BY THE AUDIT COMMITTEE AT A MEETING CALLED SPECIFICALLY FOR THIS PURPOSE. PRIOR TO SUBMISSION THE FORM IS PROVIDED TO THE FULL BOARD OF MANAGERS FOR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C EACH MEMBER OF THE BOARD OF MANAGERS FILES WITH THE SECRETARY A CONFLICT OF INTEREST DISCLOSURE STATEMENT. THIS STATEMENT IS RENEWED ON AN ANNUAL BASIS AT THE BEGINNING OF EACH FISCAL YEAR. A CONFLICT OR POTENTIAL CONFLICT OF INTEREST IS CONSIDERED TO EXIST IF THE MEMBER OR A MEMBER'S DEPENDENT HAS ANY RELATIONSHIP, INTEREST, OR SITUATION WHICH MIGHT INDICATE A DUALITY OF LOYALTY OR INTEREST. IF A CONFLICT EXISTS, THE MEMBER IS ASKED TO IDENTIFY THE SPECIFIC CONFLICT. ANY MEMBER OF THE BOARD HAVING A CONFLICT OF INTEREST IN CONNECTION WITH ANY MATTER BEFORE THE BOARD SHALL SO INDICATE AT THE TIME AND SHALL BE EXPECTED TO EXCUSE HIMSELF/HERSELF/THEMSELF DURING THAT PORTION OF THE MEETING. THE MINUTES OF THE MEETING SHALL REFLECT ANY SUCH DISCLOSURE AND ABSTENTION FROM VOTING. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMPENSATION PROGRAM AT THE ALUMNI ASSOCIATION OF THE UNIVERSITY OF VIRGINIA (THE ASSOCIATION) IS DESIGNED TO ALIGN THE INTERESTS OF EXECUTIVE OFFICERS WITH THEIR PERFORMANCE. THIS PROGRAM IS BASED ON A PHILOSOPHY THAT THE TOTAL COMPENSATION PACKAGE MUST BE COMPETITIVE WITH SIMILAR POSITIONS IN THE INDUSTRY IN ORDER TO ATTRACT AND RETAIN EXECUTIVE TALENT. THE COMPENSATION COMMITTEE (COMMITTEE) OF THE ASSOCIATION'S BOARD OF MANAGERS IS RESPONSIBLE FOR OVERSIGHT AND ADMINISTRATION OF THE EXECUTIVE COMPENSATION PROGRAM. THE COMMITTEE RETAINS A PROFESSIONAL CONSULTANT TO PROVIDE AN INTERMEDIATE SANCTIONS REVIEW OF THE PRESIDENT AND FIVE HIGHEST PAID POSITIONS AND A MARKET VALUE ANALYSIS OF ALL OTHER MAJOR JOB DESCRIPTIONS ON A TRIENNIAL BASIS. SALARY AND OTHER BENEFITS ARE BENCHMARKED AGAINST THE COMPENSATION PAID TO OFFICERS AND UPPER MANAGEMENT IN COMPARABLE, HIGH-PERFORMING COMPANIES WITH SIMILAR RESPONSIBILITIES. THIS PROFESSIONAL REVIEW WAS LAST PERFORMED IN FISCAL YEAR 2021-2022. THE COMPENSATION COMMITTEE DOCUMENTS THE DELIBERATION AND ALL DECISIONS MADE. FORM 990, PART VI, SECTION C, LINE 19 THE ASSOCIATION DOES NOT MAKE ITS GOVERNING DOCUMENTS OR CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC. THE ASSOCIATION DOES MAKE ITS FINANCIAL STATEMENTS, IRS FORM 990, AND IRS FORM 990-T AVAILABLE TO THE PUBLIC ON ITS OWN WEBSITE. FORM 990, PART XI, LINE 9: CHANGE FV BENEFICIAL TRUST INTEREST -597,027. CHANGE IN VALUE OF TRUSTS AND ANNUITIES -430,057. THE JEFFERSON TRUST FOR THE UNIV OF VA 211 EMMET STREET SOUTH CHARLOTTESVILLE VA 22903 GRANT PROGRAM VA 1675202 45583991 UVAA