2016-08-15T09:13:45-05:00 2015-12-31 410746749 CLIFTONLARSONALLEN LLP 4250 N FAIRFAX DRIVE SUITE 1020 ARLINGTON VA 22203 990 2015-01-01 237084339 GRADUATE MANAGEMENT ADMISSION COUNCIL GRAD 7036689600 11921 FREEDOM DRIVE NO 300 RESTON VA 20190 SAM REIMER CHIEF FINANCIAL OFFICER 7037490131 2016-08-12 1 KAREN GRIES P00078514 5712279500 2015 2017-02-10 21:41:12Z SANGEET CHOWFLA 11921 FREEDOM DRIVE NO 300 RESTON VA 20190 162217548 0 X WWW.GMAC.COM X 1970 VA THE COUNCIL IS A NOT-FOR-PROFIT ORGANIZATION FORMED TO ADMINISTER THE GRADUATE MANAGEMENT ADMISSION TEST, CONDUCT EDUCATIONAL RESEARCH AND TO PROVIDE OTHER EDUCATIONAL SERVICES. 15 14 130 15 46160 0 0 0 88795952 92700862 4064891 8162468 350999 358973 93211842 101222303 1335707 1112018 0 0 28266585 24561250 0 0 0 58256725 61985510 87859017 87658778 5352825 13563525 172811397 174443732 32475240 26994455 140336157 147449277 X GRADUATE MANAGEMENT ADMISSION COUNCIL (GMAC) BELIEVES THAT BUSINESS AND MANAGEMENT ARE CRITICAL TO THE ECONOMIC AND SOCIAL WELL-BEING OF PEOPLE WORLDWIDE. WE PROVIDE INFORMATION AND INSIGHTS TO IMPROVE DECISION MAKING ABOUT THE DISCOVERY AND EVALUATION OF TALENT. AT GMAC, WE DO THIS TO CONTRIBUTE TO THE EFFECTIVE USE OF HUMAN, NATURAL, AND FINANCIAL RESOURCES THROUGHOUT THE WORLD. 1 0 41062186 0 84730531 TEST OPERATIONS - GRADUATE MANAGEMENT EDUCATION PROGRAMS EVALUATE APPLICANTS FROM MANY EDUCATIONAL BACKGROUNDS. THE GMAT HELPS SCHOOL PROGRAMS CHOOSE THE STUDENTS WHO ARE MOST LIKELY TO SUCCEED ACADEMICALLY IN A GIVEN PROGRAM. FOR LEADING BUSINESS SCHOOLS WORLDWIDE, THE GMAT IS RECOGNIZED AS THE MOST EFFECTIVE TEST AVAILABLE FOR MATCHING STUDENT COMPETENCIES WITH PROGRAM DEMANDS - REGARDLESS OF PROGRAM TYPE OR THE RACE, GENDER, OR NATIONAL ORIGIN OF STUDENTS. THE GRADUATE MANAGEMENT ADMISSION TEST (GMAT) IS A CRITICAL PART OF THE SELECTIVE ADMISSIONS PROCESS FOR NEARLY 5,500 GRADUATE MANAGEMENT PROGRAMS AT 2,032 SCHOOLS AROUND THE WORLD. FOR MORE THAN 60 YEARS, SCHOOLS HAVE TRUSTED THE GMAT EXAM, A PROVEN AND RELIABLE MEASUREMENT, TO ASSESS CANDIDATES' SKILLS AND PREDICT THEIR SUCCESS IN GRADUATE BUSINESS CURRICULUM. IN MARCH 2015, GMGC INDIA ACQUIRED THE NMAT EXAM FROM NMIMS UNIVERSITY AND RENAMED IT TO NMAT BY GMAC. THIS EXAM ENABLES SCHOOLS TO RECRUIT TOP TALENT AND MEASURES SKILLS NEEDED TO SUCCEED IN LEADING MANAGEMENT PROGRAMS LOCATED IN INDIA.WAYS TO MEASURE - 2015 VALUES GMAT TEST REGISTRATIONS - 292,753 GMAT TESTS ACTUALLY TAKEN - 258,688 GMAT SCORE REPORTS SENT - 646,116 NMAT TEST REGISTRATIONS - 70,950 NMAT TESTS ACTUALLY TAKEN - 63,199 NMAT SCORE REPORTS SENT - 232,426NUMBER OF TEST CENTERS AS OF DEC 31, 2015: NORTH AMERICA - 412 ASIA PACIFIC - 85 EUROPE, MIDDLE EAST, AFRICA - 117 LATIN AMERICA - 34NUMBER OF ACTIVE PROGRAMS ACCEPTING THE GMAT AS OF DEC 31, 2015: NORTH AMERICA - 4,564 ASIA PACIFIC - 770 EUROPE, MIDDLE EAST, AFRICA - 1,166 LATIN AMERICA - 53 24129709 1112018 8158408 OTHER EDUCATIONAL SERVICES - SERVICES FOR STUDENTS:GMAC PROVIDES INFORMATION FOR STUDENTS ABOUT THE VALUE OF AND PROCESS FOR OBTAINING AN MBA DEGREE. THIS INFORMATION IS DELIVERED VIA WWW.MBA.COM, AS WELL AS THROUGH OTHER MEDIUMS AS APPROPRIATE. GMAC PROVIDES FREE GMAT TEST PREPARATION SOFTWARE TO STUDENTS. ALSO, GMAT PROVIDES FEE WAIVERS TO ECONOMICALLY DISADVANTAGED STUDENTS ON AN ANNUAL BASIS WORTH $250 PER WAIVER, MARKET PRICE TO REGISTER FOR THE GMAT. FINALLY, GMAC SELLS VARIOUS TEST PREPARATION PRODUCTS, BOTH HARD COPY AND ONLINE.SERVICES FOR SCHOOLS:GMAC PROVIDES INFORMATION FOR SCHOOL PROFESSIONALS ABOUT POTENTIAL STUDENTS AND GRADUATE MANAGEMENT EDUCATION TRENDS AND DEVELOPMENTS. THIS INFORMATION IS DELIVERED VIA WWW.GMAC.COM, AS WELL AS THROUGH OTHER MEDIUMS AS APPROPRIATE.WAYS TO MEASURE - 2015 VALUES WEBSITE VISITS TO GMAC.COM - 741,799THE GRADUATE MANAGEMENT ADMISSION SEARCH SERVICE (GMASS) GIVES SCHOOL ADMISSION PROFESSIONALS ACCESS TO QUALIFIED POTENTIAL APPLICANTS WHO HAVE ALREADY SHOWN A STRONG INTEREST IN GRADUATE MANAGEMENT EDUCATION. THEY'VE CREATED AN MBA.COM PROFILE, THEY MAY HAVE TAKEN THE GMAT EXAM AND THEY'VE SPECIFICALLY CHOSEN TO MAKE THEIR CONTACT AND OTHER INFORMATION AVAILABLE TO SCHOOLS. NAMES ARE SOLD INDIVIDUALLY AND THE DATABASE FREQUENTLY RENEWS AS INDIVIDUALS MOVE THROUGH THE DECISION MAKING PROCESS. WAYS TO MEASURE - 2015 VALUES NUMBER OF SEARCHES DONE - 16,246 TOTAL NUMBER OF GMASS SEARCHES COMPLETED IN CALENDAR YEAR 2015SCHOOL FINDER DATA WAREHOUSE CAPTURES BUSINESS SCHOOL ADMISSIONS, ENROLLMENT, AND EMPLOYMENT INFORMATION IN ON PLACE. THIS DATA, DEFINED BY THE MBA REPORTING CRITERIA IS AN IMPORTANT SOURCE OF OBJECTIVE, CONSISTENT, AND COMPARABLE INDUSTRY INFORMATION FOR PROSPECTIVE STUDENTS (VIA THE MBA.COM SCHOOL SEARCH SERVICE), BUSINESS SCHOOL PROFESSIONALS, AND THE MEDIA.WAYS TO MEASURE - 2015 VALUES NUMBER OF SEARCHES DONE - 3,150,000 NUMBER OF PARTICIPATING SCHOOLS - 2,116 NUMBER OF PARTICIPATING PROGRAMS ESTIMATE - 6,356JOB OPENINGS IN GRADUATE MANAGEMENT EDUCATION: TO SUPPORT THE GRADUATE BUSINESS SCHOOL COMMUNITY, GMAC MAINTAINS A CURRENT LIST OF PROFESSIONAL POSITIONS AT BUSINESS SCHOOLS AROUND THE WORLD. THESE OPENINGS ARE POSTED DIRECTLY BY THE SCHOOLS. GMAC SERVES AS THE CENTRAL SOURCE OF NEWS AND INFORMATION IN THE FIELD OF GRADUATE MANAGEMENT EDUCATION.WAYS TO MEASURE - 2015 VALUES NUMBER OF JOB POSTINGS - 314GRADUATE MANAGEMENT NEWS: A FREE ONLINE NEWLETTER PUBLISHED MONTHLY TO KEEP SCHOOLS UP TO DATE ON TRENDS AND PROVIDES FEATURE ARTICLES ON HOT TOPICS IN THE BUSINESS SCHOOL COMMUNITY.WAYS TO MEASURE - 2015 VALUES GRADUATE MANAGEMENT NEWS EMAILS SENT - 237,082 GRADUATE MANAGEMENT NEWS PAGE VIEWS - 64,694THE GMAC LEADERSHIP CONFERENCE: THIS ANNUAL EVENT, GENERALLY HELD IN THE EARLY WINTER, IS OPEN TO ACADEMIC AND ADMINISTRATIVE GRADUATE SCHOOL PROGRAM-LEVEL DEANS AND DIRECTORS. ATTENDANCE IS LIMITED TO ENSURE A FOCUSED AND DRIVEN PROGRAM.WAYS TO MEASURE - 2015 VALUES NUMBER OF TOTAL SCHOOL ATTENDEES - 158THE GMAC ANNUAL CONFERENCE IN JUNE BRINGS TOGETHER GRADUATE BUSINESS PROFESSIONALS FROM ALL FUNCTIONS AND EXPERIENCE LEVELS FOR NETWORKING, LEARNING SESSIONS, AND DISCUSSIONS ABOUT THE LATEST TRENDS IN GRADUATE MANAGEMENT EDUCATION. WAYS TO MEASURE - 2015 VALUES NUMBER OF TOTAL SCHOOL ATTENDEES - 662THE ADMISSIONS INSTITUTE FOR NEW PROFESSIONALS, HELD IN THE SUMMER, IS DESIGNED FOR PROFESSIONALS FROM GMAT USING SCHOOLS WITH UP TO TWO YEARS OF EXPERIENCE IN BUSINESS SCHOOL ADMISSIONS.WAYS TO MEASURE - 2015 VALUES NUMBER OF TOTAL SCHOOL ATTENDEES - 59GMGC 2015 EUROPEAN CONFERENCE: THE EUROPEAN CONFERENCE IS DESIGNED FOR SCHOOL PROFESSIONALS IN ADMISSIONS, MARKETING, RECRUITMENT, INTERNATIONAL AFFAIRS, AND PROGRAM MANAGEMENT. HELD IN THE FALL, THIS GLOBAL FORUM EXPLORES ISSUES OF INCREASING IMPORTANCE WITHIN A GROWING EUROPEAN GRADUATE MANAGEMENT EDUCATION LANDSCAPE.WAYS TO MEASURE - 2015 VALUES NUMBER OF ATTENDEES - 71 INSTITUTIONS REPRESENTED - 27 COUNTRIES REPRESENTED - 11GMAC 2015 ASIA PACIFIC CONFERENCE: THE APAC CONFERENCE IS DESIGNED FOR SCHOOL PROFESSIONALS IN ADMISSIONS, MARKETING, RECRUITMENT, INTERNATIONAL AFFAIRS, AND PROGRAM MANAGEMENT. HELD IN THE FALL, THIS GLOBAL FORUM EXPLORES ISSUES OF INCREASING IMPORTANCE WITHIN A GROWING ASIA-PACIFIC GRADUATE MANAGEMENT EDUCATION LANDSCAPE.WAYS TO MEASURE - 2015 VALUES NUMBER OF ATTENDEES - 51 INSTITUTIONS REPRESENTED - 30 COUNTRIES REPRESENTED - 15THE GMAC MANAGEMENT EDUCATION FOR TOMORROW (MET) FUND FORMALIZES AND ENHANCES THE GRADUATE MANAGEMENT ADMISSION COUNCIL'S LONG-STANDING COMMITMENT TO INVESTING (FINANCIAL AND IN-KIND) IN STRATEGIC PHILANTHROPIC INITIATIVES THAT BENEFIT AND ADVANCE BUSINESS AND MANAGEMENT EDUCATION GLOBALLY.THE LARGEST PROJECT, THE IDEAS TO INNOVATION CHALLENGE, AWARDED MORE THAN $7.1 MILLION TO 12 PROGRAMS, INCORPORATING ONE OR MORE OF THE 20 IDEAS CHOSEN FROM THE CHALLENGE'S FIRST PHASE, ASKING FOR IDEAS ON HOW TO IMPROVE GRADUATE MANAGEMENT EDUCATION. THESE PROGRAMS ARE CREATING NEW EDUCATION OPPORTUNITIES IN THE US, CANADA, SPAIN, KENYA, BOTSWANA, GHANA AND MORE, AND WILL BE IMPLEMENTED BETWEEN 2013 AND 2017. IN ADDITION, THE FUND AWARDED $250,000 TO THE PHD PROJECT, TO HELP FURTHER ITS MISSION TO PROMOTE ADDITIONAL MINORITY FACULTY IN BUSINESS SCHOOLS. 1498755 0 164172 RESEARCH - GMAC RESEARCH PROVIDES DATA ABOUT GMAT TEST TAKERS AND GRADUATE MANAGEMENT PROGRAM CONSTITUENTS.THE POOL OF CANDIDATES FOR GRADUATE BUSINESS EDUCATION CONTINUES TO DIVERSIFY, AND OFFERING THE GMAT EXAM ALLOWS GMAC TO BUILD AN ACCURATE PICTURE OF TODAY'S BUSINESS SCHOOL APPLICANTS. GMAT INTERACTIVE PROFILE REPORTS SHOW CURRENT AND HISTORICAL TEST-TAKER TRENDS ABOUT WHERE TEST TAKERS LIVE, WHAT THEY EXPECT TO GAIN FROM BUSINESS SCHOOL, THEIR WORK EXPERIENCE, ETC. SCHOOLS CAN ALSO CUSTOMIZE A REPORT FOR INFORMATION TARGETED TO FIT THEIR NEEDS. ALL REPORTS CAN BE PRINTED OR DOWNLOADED AT THE SCHOOL'S CONVENIENCE.GMAC SURVEYS EXPLORE RELEVANT ISSUES, OFFERING DATA AT VARIOUS DEPTHS, DEPENDING ON WHAT SCHOOLS NEED AND HOW THEY PARTICIPATE. SURVEY REPORTS ARE FREQUENTLY USED TO HELP DRIVE STRATEGIC DECISION-MAKING PROCESSES IN GRADUATE BUSINESS SCHOOLS.WAYS TO MEASURE - 2015 VALUES NUMBER OF SURVEY REPORTS CREATED - 32 REPORTS: 7 SURVEY SUMMARY REPORTS; 6 SURVEY INTERACTIVE REPORTS; 4 OTHER INTERACTIVE REPORTS; 5 SURVEY BENCHMARK TOOLS; 9 DATA TO GO REPORTS; 1 RESEARCH REPORT (WHITE PAPER); 659 UNIQUE BENCHMARK REPORTS RUN BY SCHOOLS THROUGH INTERACTIVE BENCHMARK SYSTEM NUMBER OF ENTITIES SURVEYED - APPROXIMATELY - 76,11 NUMBER OF AD HOC REQUESTS ANSWERED - APPROXIMATELY 130 FOR MEMBER AND NON-MEMBER SCHOOLSGMAT VALIDITY STUDY SERVICE IS A CUSTOMER SERVICE THAT ANALYZES A SCHOOL'S ADMISSIONS CRITERIA AND LETS SCHOOLS KNOW EXACTLY HOW VALID THE TEST IS FOR ITS PROGRAM.WAYS TO MEASURE - 2015 VALUES NUMBER OF FULL VALIDITY STUDIES - 9 66690650 1 0 0 1 0 0 0 0 0 0 1 1 0 1 1 1 0 1 0 1 1 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 84 0 130 1 1 1 1 UK HK IN 0 0 0 0 0 0 0 0 X 15 14 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 X SAM REIMER 7036689600 11921 FREEDOM DRIVE NO 300 RESTON VA 20190 ELLEN GLAZERMAN CHAIR 3.00 X X 0 0 0 KENNETH FREEMAN VICE CHAIR 3.00 X 0 0 0 NICK BARNVILLE BOARD MEMBER 1.00 X 0 0 0 WILLIAM BOULDING BOARD MEMBER 1.00 X 0 0 0 JIM BRADY BOARD MEMBER 2.00 X 0 0 0 TOM BUIOCCHI BOARD MEMBER 1.00 X 0 0 0 JON ERICKSON BOARD MEMBER 1.00 X 0 0 0 SEAN FERGUSON BOARD MEMBER 1.00 X 0 0 0 KATE KLEPPER BOARD MEMBER 1.00 X 0 0 0 K RAVI KUMAR BOARD MEMBER 1.00 X 0 0 0 XIONGWEN LU BOARD MEMBER 1.00 X 0 0 0 TOBY MCCHESNEY BOARD MEMBER 2.00 X 0 0 0 DONNA RAPACCIOLI BOARD MEMBER 1.00 X 0 0 0 ALFONS SAUQUET BOARD MEMBER 1.00 X 0 0 0 SANGEET CHOWFLA PRESIDENT AND CEO 40.00 X X 638064 0 303609 MARGARET JOBST EXECUTIVE VP, ASSESSMENT PRODUCTS 40.00 X 1053520 0 46187 ROBERT ALIG EXECUTIVE VP, SCHOOL PRODUCTS 40.00 X 402553 0 51628 SHELLI H ARNOLD CHIEF OPERATING OFFICER 40.00 X 1061409 0 30255 RAMESH THADANI EXECUTIVE VP, MARKET DEVELOPMENT 40.00 X 515181 0 47967 SAMUEL REIMER CHIEF FINANCIAL OFFICER 40.00 X 626253 0 52618 SHERRI SAMPSON CHIEF HR OFFICER, GENERAL COUNSEL AND CORPORATE SE 40.00 X 532705 0 49128 BETTY SU VP, CHIEF MARKETING OFFICER 40.00 X 63019 0 8431 ASHOK SARATHY VP, PRODUCT MANAGEMENT 40.00 X 387713 0 44874 DAVID MOLDAVSKY VP, BUSINESS OPERATIONS 40.00 X 399021 0 49930 FANMIN GUO VP, PSYCHOMETRIC RESEARCH 40.00 X 315415 0 39299 ANDREW MARTELLI VP, PRODUCT DEVELOPMENT 40.00 X 291378 0 46590 RICHARD D'AMATO VP, GLOBAL COMMUNICATIONS 40.00 X 262286 0 41510 SABRINA WHITE VP, AMERICAS 40.00 X 269239 0 27754 ASHISH BHARDWAJ VP, APAC 40.00 X 228615 0 50085 7046371 0 889865 60 0 1 0 UNIVERSITY DIRECTORIES LLC THE AROUND C 88 VILCOM CENTER DRIVE CHAPEL HILL NC 27514 MARKETING 413431 TRU-CLARITY CONSULTING LLC MARK S GORM 1033 FOUNDERS RIDGE LANE MCLEAN VA 22102 MARKETING 401092 SLAIT CONSULTING 100 LANDMARK SQUARE VIRGINIA BEACH VA 23452 NETWORK CONSULTANTS 326205 BIG LENS LLC 1370 PARK GARDEN LANE RESTON VA 20194 MARKETING 262318 NORTON ROSE FULBRIGHT US LLP 1301 MCKINNEY SUITE 5100 HOUSTON TX 77010 LEGAL COUNSEL FOR GMAC 117799 6 TEST OPERATIONS 900099 84730531 84730531 SCHOOL/STUDENT PRODUCTS 900099 7108383 7062223 46160 PROFESSIONAL DEVELOPMENT 900099 861948 861948 92700862 2214086 2214086 66770308 60821926 5948382 5948382 5948382 525568 173319 352249 352249 MISCELLANEOUS REVENUE 900099 6724 6724 6724 101222303 93006951 46160 8169192 836451 836451 89304 89304 186263 186263 7936235 5317277 2618958 12188146 7908627 4279519 1043069 770608 272461 2268521 1322121 946400 1125279 651503 473776 569575 569575 546395 546395 4508 4508 397243 397243 3585335 2351050 1234285 2712770 2708507 4263 1576285 591480 984805 4387397 493484 3893913 -1425513 -1425513 2286323 500504 1785819 2767161 1915911 851250 958851 958851 53022 53022 1034675 1034675 264989 264989 TEST OPERATIONS 38319993 38319993 TEST DEVELOPMENT 2639451 2639451 STAFF TRAINING 488942 368792 120150 OTHER EMPLOYEE COSTS 328060 31550 296510 490048 154436 335612 87658778 66690650 20968128 0 16282323 21276370 1313609 1327236 44095 47775 951993 1516997 13891235 7594737 6491807 6296498 108549847 102817312 9776885 9210910 29400838 31950634 172811397 174443732 14075810 12761530 8103771 7905503 4004839 0 6290820 6327422 32475240 26994455 X 140336157 147449277 140336157 147449277 172811397 174443732 13563525 -6450405 0 X 0 1 X 1 0 X 90207381 94549462 88087784 89236825 93180270 455261722 90207381 94549462 88087784 89236825 93180270 455261722 0 0 0 455261722 50987 73167 790354 1876827 2214086 5005421 50987 73167 790354 1876827 2214086 5005421 3852 2700 12862 54977 6724 81115 90262220 94625329 88891000 91168629 95401080 460348258 0.98900 0.92740 0.01090 0.00620 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLENOUS INCOME - 2011 AMOUNT: $ 1,198. 2012 AMOUNT: $ 2,700. 2013 AMOUNT: $ 12,862. 2014 AMOUNT: $ 54,977. 2015 AMOUNT: $ 6,724. SALE OF OTHER PRODUCTS - 2011 AMOUNT: $ 2,654. 0 0 0 0 0 4508 4508 87654271 87658779 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 96424 138977 26246 4508 266155 250000 250000 250000 250000 1000000 1500000 7118417 2397427 4720990 4946328 3810148 1136180 1826490 1387162 439328 6296498 HEDGE FUNDS 3711332 F MUTUAL FUND - MIXED ASSETS 5499578 F 9210910 CAPITALIZED TEST ITEMS 31684239 OTHER ASSETS 266395 31950634 DEFERRED LEASE OBLIGATIONS 5644753 OTHER LIABILITIES 682669 6327422 X PART X, LINE 2: THE COUNCIL IS EXEMPT FROM THE PAYMENT OF INCOME TAXES ON ITS EXEMPT ACTIVITIES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC). THE INTERNAL REVENUE SERVICE HAS DETERMINED THAT THE COUNCIL IS NOT A PRIVATE FOUNDATION UNDER SECTION 509(A)(2) OF THE IRC. THE COUNCIL IS REQUIRED TO REPORT UNRELATED BUSINESS INCOME TO THE IRS. THE ORGANIZATION FOLLOWS THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, HAS EVALUATED ITS TAX POSITIONS AND DETERMINED THAT ITS TAX POSITIONS ARE MORE-LIKELY-THAN-NOT TO BE SUSTAINED ON EXAMINATION. THE ORGANIZATION'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE, LOCAL AND FOREIGN AUTHORITIES. 1 EUROPE (UK OFFICE) 1 6 PROGRAM SERVICES CONDUCT EDUCATIONAL RESEARCH, PROVIDE SERVICES, AND FACILITATE INFORMATION EXCHANGE 2303882 EAST ASIA AND THE PACIFIC (HONG KONG OFFICE) 1 5 PROGRAM SERVICES CONDUCT EDUCATIONAL RESEARCH, PROVIDE SERVICES, AND FACILITATE INFORMATION EXCHANGE 1574886 SOUTH ASIA (INDIA OFFICE) 1 2 PROGRAM SERVICES ADMINISTRATION OF THE NMAT EXAM, PROVIDES SERVICES AND FACILITATE INFORMATION EXCHANGE. 1462193 SOUTH ASIA (INDIA OFFICE) 1 6 PROGRAM SERVICES CONDUCT EDUCATIONAL RESEARCH, PROVIDE SERVICES AND ADMINISTRATION FOR THE GMAT AND NMAT, AND FACILITATE INFORMATION EXCHANGE. 1576620 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES CONDUCT EDUCATIONAL RESEARCH, PROVIDE SERVICES, AND FACILITATE INFORMATION EXCHANGE 113043 4 19 0 0 4 19 7030624 0 7030624 EUROPE AFRICAN LEADERSHIP STUDY 25000 WIRE 0 N/A N/A NORTH AMERICA PROMOTING GMAC PRODUCTS, SERVICES, AND RESEARCH AND PROVIDING INDUSTRY SUPPORT. 10000 CHECK 0 N/A N/A EUROPE TO SPONSOR EFMD ACTIVITIES 121506 CHECK 0 N/A N/A SOUTH ASIA PROMOTE AND ADVERTISE GMAC PRODUCTS AND SERVICES. 16320 CHECK 0 N/A N/A 0 4 FEE WAIVER CENTRAL AMERICA AND CARIBBEAN 1 0 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY FOR THE G 106 FEE WAIVER FAIR MARKET VALUE FEE WAIVER EAST ASIA AND THE PACIFIC 10 0 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY FOR THE G 1058 FEE WAIVER FAIR MARKET VALUE FEE WAIVER EUROPE 30 0 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY FOR THE G 3174 FEE WAIVER FAIR MARKET VALUE FEE WAIVER MIDDLE EAST & NORTH AFRICA 3 0 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY FOR THE G 317 FEE WAIVER FAIR MARKET VALUE FEE WAIVER NORTH AMERICA (EXCLUDES USA) 11 0 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY FOR THE G 1164 FEE WAIVER FAIR MARKET VALUE FEE WAIVER RUSSIA AND NEIGHBORING STATES 12 0 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY FOR THE G 1270 FEE WAIVER FAIR MARKET VALUE FEE WAIVER SOUTH AMERICA 3 0 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY FOR THE G 317 FEE WAIVER FAIR MARKET VALUE FEE WAIVER SOUTH ASIA 20 0 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY FOR THE G 2116 FEE WAIVER FAIR MARKET VALUE FEE WAIVER SUB-SAHARAN AFRICA 37 0 SCHOOL DISBURSES TEST VOUCHER TO TEST TAKERS WHO ARE UNABLE TO PAY FOR THE G 3915 FEE WAIVER FAIR MARKET VALUE 1 0 1 0 0 0 PART I, LINE 2: GMAC EMPLOYEES WHO ARE DIRECTLY RESPONSIBLE FOR THE BUDGETED FUNDS FROM WHICH GRANTS ARE MADE ARE RESPONSIBLE FOR MONITORING THE USE OF GRANT FUNDS BY THE RECIPIENTS. PART I, LINE 3: THE ORGANIZATION USES THE ACCRUAL BASIS OF ACCOUNTING TO ACCOUNT FOR EXPENDITURES. 1 EXECUTIVE MBA COUNCIL ONE UNIVERSITY DRIVE ORANGE CA 92866 943095701 501(C)(3) 35000 0 N/A N/A PROMOTING GMAC PRODUCTS, SERVICES, AND RESEARCH AND PROVIDING INDUSTRY SUPPORT. AACSB INTERNATIONAL PO BOX 116201 ATLANTA GA 30368 406036286 501(C)(3) 126500 0 N/A N/A PROMOTING GMAC PRODUCTS, SERVICES, AND RESEARCH AND PROVIDING INDUSTRY SUPPORT. ASSOCIATION OF TEST PUBLISHERS 2995 ROUND HILL ROAD YORK PA 17042 363918100 501(C)(3) 5041 0 N/A N/A PROMOTE AND ADVANCE INTEGRITY OF ASSESSMENT SERVICES AND PRODUCTS. INT'L ASSOCIATION FOR COMPUTERIZED ADAPTIVE TESTING 5601 GREEN VALLEY DRIVE BLOOMINGTON MN 55347 272409911 501(C)(3) 5000 0 N/A N/A PRESENT RESEARCH AND ESTABLISH GMAC AS A LEADER IN CAT. WYNNE COMMUNICATIONS 1334 PARKVIEW AVENUE SUITE 100 MANHATTAN BEACH CA 90266 954844451 N/A 10000 0 N/A N/A TO SPONSOR BUSINESS ACCESS MEDIA EVENT WHICH BRINGS THE WORLD'S TOP MBA PROGRAMS TO MEET WITH THE TOP FINANCIAL MEDIA. MANAGEMENT LEADERSHIP FOR TOMORROW 15 MAIDEN LANE STE 900 NEW YORK NY 10038 521795164 501(C)(3) 15000 0 N/A N/A TO SPONSOR FOUR PROGRAMS OF COACHING AND SUPPORT FOR HIGH-POTENTIAL AMERICAN, HISPANIC & NATIVE AMERICAN YOUNG PEOPLE TO UNLOCK THEIR CAREER POTENTIAL TEACH FOR AMERICA 1805 7TH STREET NW 6TH FLOOR WASHINGTON DC 20001 133541913 501(C)(3) 10000 0 N/A N/A TO SUPPORT THE MOVEMENT PROVIDING AN EXCELLENT EDUCATION FOR KIDS IN LOW-INCOME COMMUNITIES. MBA CSEA PO BOX 47478 TAMPA FL 33646 522134267 501(C)(3) 10000 0 N/A N/A PROMOTING GMAC PRODUCTS, SERVICES, AND RESEARCH AND PROVIDING INDUSTRY SUPPORT. PSYCHOMETRIC SOCIETY 2424 AMERICAN LANE MADISON WI 53704 596169781 N/A 10000 0 N/A N/A PROMOTING GMAC PRODUCTS, SERVICES, AND RESEARCH AND PROVIDING INDUSTRY SUPPORT. MAKINETWORK LLC 58 LYME ROAD HANOVER NH 03755 464273512 N/A 20000 0 N/A N/A PROMOTING GMAC PRODUCTS, SERVICES, AND RESEARCH AND PROVIDING INDUSTRY SUPPORT WITH OTHER COMMUNICATIONS EXPERTS AND JOURNALISTS. ASSOCIATION OF TEST PUBLISHERS 2995 ROUND HILL ROAD YORK PA 17042 363918100 501(C)(3) 13500 0 N/A N/A PROMOTE AND ADVANCE INTEGRITY OF ASSESSMENT SERVICES AND PRODUCTS. NATIONAL SOCIETY OF HISPANIC MBA'S 450 E JOHN CARPENTER FREEWAY SUITE 200 IRVING TX 75062 270436759 N/A 20000 0 N/A N/A PROMOTING GMAC PRODUCTS, SERVICES, AND RESEARCH AND PROVIDING INDUSTRY SUPPORT. THE PHD PROJECT THREE CHESTNUT RIDGE ROAD MONTVALE NJ 07645 202610773 501(C)(3) 325000 0 N/A N/A TO HELP AFRICAN-AMERICANS, HISPANIC-AMERICANS AND NATIVE AMERICANS ATTAIN BUSINESS PHDS TO BECOME BUSINESS PROFESSORS AND MENTOR THE NEXT GENERATION. FORTE FOUNDATION 9600 ESCARPMENT 745 PMB 72 AUSTIN TX 78749 611457145 501(C)(3) 50000 0 N/A N/A TO SPONSOR UNDERGRADUATE OUTREACH ACTIVITIES: CAREER LAUNCH & VIRTUAL CAMPUS C2 RESEARCH 205 VERNON STREET ROSEVILLE CA 95678 461613039 N/A 26800 0 N/A N/A UNDERGRADUATE STUDENT RESEARCH EPISODIC TESTING. MASSACHUSETTS INSTITUTE OF TECHNOLOGY 77 MASSACHUSETTES AVENUE E94-15TH FLOOR CAMBRIDGE MA 02139 012103594 501(C)(3) 50000 0 N/A N/A SUPPORT OF THE INITIATIVE ON THE DIGITAL ECONOMY. HBCU BUSINESS DEAN'S ROUNDTABLE 2 BENJAMIN F PAYTON DRIVE ANDREW F BRIMMER HALL TUSKEGEE AL 36088 721491905 501(C)(3) 10000 0 N/A N/A TO SUPPORT HBCU BUSINESS DEAN'S ROUNDTABLE CONFERENCE - THE PURPOSE OF THE HBCU IS TO PROVIDE A FORUM FOR DEANS OF HBCU BUSINESS SCHOOLS TO ADDRESS OPPORTUNITIES AND CHALLENGES ASSOCIATED WITH ENHANCING BUSINESS PROGRAMS AND INITIATIVES 12 5 FEE WAIVER 844 89304 0 N/A N/A PART I, LINE 2: GMAC MAINTAINS POLICIES, PROCEDURES, CONTRACTS OR SUMMARY TERMS AND RECORDS TO GUIDE CORPORATE CHARITABLE GIVING, INCLUDING GUIDANCE REGARDING ELIGIBILITY AND SELECTION CRITERIA, EXPENDITURE TRACKING AND SUBSTANTIATION OF THE AMOUNT OF GRANTS OR ASSISTANCE. GMAC EMPLOYEES WHO ARE DIRECTLY RESPONSIBLE FOR THE BUDGETED FUNDS FROM WHICH GRANTS ARE MADE ARE RESPONSIBLE FOR MONITORING THE USE OF GRANT FUNDS BY THE RECIPIENTS. X X 1 1 X X X X X 1 0 0 0 0 0 0 0 0 SANGEET CHOWFLA PRESIDENT AND CEO 431000 0 205000 0 2064 0 286500 0 17109 0 941673 0 0 0 MARGARET JOBST EXECUTIVE VP, ASSESSMENT PRODUCTS 235020 0 380251 0 438249 0 23500 0 22687 0 1099707 0 0 0 ROBERT ALIG EXECUTIVE VP, SCHOOL PRODUCTS 334104 0 67667 0 782 0 26500 0 25128 0 454181 0 0 0 SHELLI H ARNOLD CHIEF OPERATING OFFICER 180352 0 440317 0 440740 0 9674 0 20581 0 1091664 0 0 0 RAMESH THADANI EXECUTIVE VP, MARKET DEVELOPMENT 344248 0 164938 0 5995 0 26500 0 21467 0 563148 0 0 0 SAMUEL REIMER CHIEF FINANCIAL OFFICER 317752 0 307781 0 720 0 26500 0 26118 0 678871 0 0 0 SHERRI SAMPSON CHIEF HR OFFICER, GENERAL COUNSEL AN 312575 0 219410 0 720 0 18550 0 30578 0 581833 0 0 0 ASHOK SARATHY VP, PRODUCT MANAGEMENT 224569 0 162664 0 480 0 22456 0 22418 0 432587 0 0 0 DAVID MOLDAVSKY VP, BUSINESS OPERATIONS 228759 0 169782 0 480 0 23749 0 26181 0 448951 0 0 0 FANMIN GUO VP, PSYCHOMETRIC RESEARCH 216862 0 95385 0 3168 0 21686 0 17613 0 354714 0 0 0 ANDREW MARTELLI VP, PRODUCT DEVELOPMENT 207325 0 83333 0 720 0 20914 0 25676 0 337968 0 0 0 RICHARD D'AMATO VP, GLOBAL COMMUNICATIONS 190938 0 69284 0 2064 0 19092 0 22418 0 303796 0 0 0 SABRINA WHITE VP, AMERICAS 194587 0 73932 0 720 0 19519 0 8235 0 296993 0 0 0 ASHISH BHARDWAJ VP, APAC 155748 0 72867 0 0 0 0 0 50085 0 278700 0 0 0 PART I, LINE 1A -ACCORDING TO GMAC TRAVEL POLICY FOR VICE PRESIDENTS AND ABOVE, GMAC WILL REIMBURSE FOR COACH-CLASS AIR TRAVEL FOR ONE-WAY FLIGHTS LESS THAN 2.5 HOURS IN DURATION. IF THE FLIGHT IS 2.5 HOURS OR LONGER, GMAC WILL COVER THE COST OF THE NEXT TICKET CLASS. FIRST CLASS TRAVEL IS ALLOWED FOR THE CEO. -THE GROSS PAYMENTS TO THE INDIVIDUAL WERE INSIGNIFICANT AND RELATE TO STAFF ANNIVERSARY RECOGNITIONS AND AWARDS. AS REQUIRED BY TAX LAW, ANY APPROPRIATE AMOUNTS ARE INCLUDED IN THE COMPENSATION OF THE INDIVIDUAL. PART I, LINE 4A MARGARET JOBST, SEVERANCE, $387,189 SHELLI H. ARNOLD, SEVERANCE, $418,069 PART II COLUMN (C) INCLUDED IN THE AMOUNT OF RETIREMENT AND DEFERRED COMPENSATION FOR SANGEET CHOWFLA IS A DEFERRED COMPENSATION INCENTIVE PLAN ACCRUAL OF $260,000 FOR 2015. PART II COLUMN B(II) THE TOTAL AMOUNT REPORTED IN COLUMN B(II)INCLUDES A RETENTION BONUS FOR THE FOLLOWING INDIVIDUALS IN 2015: ASHOK SARATHY $75,000 DAVID MOLDAVSKY $75,000 MARGARET JOBST $150,000 SHERRI SAMPSON $75,000 SAMUEL REIMER $150,000 SHELLI H. ARNOLD $150,000 ASHISH BHARDWAJ $60,848 FORM 990, PART III, LINE 2 WE ACQUIRED THE NMAT EXAM FROM NMIMS UNIVERSITY. THE NMAT EXAM IS NOW OWNED BY GMGC INDIA. FORM 990, PART VI, SECTION A, LINE 6 GRADUATE MANAGEMENT ADMISSION COUNCIL HAS ONE CLASS OF MEMBERS - GRADUATE BUSINESS MANAGEMENT SCHOOLS. FORM 990, PART VI, SECTION A, LINE 7A MEMBERS ELECT THE DEAN AND REPRESENTATIVE DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B THERE IS ONE CLASS OF MEMBERS. DECISIONS THAT REQUIRE THEIR APPROVAL ARE AMENDMENTS TO THE ARTICLES OF INCORPORATION AND REVISIONS TO THE BYLAWS. EACH MEMBER HAS EQUAL VOTING RIGHTS. FORM 990, PART VI, SECTION B, LINE 11 EACH MEMBER OF THE BOARD OF DIRECTORS IS GIVEN ELECTRONIC ACCESS TO A COPY OF THE FORM 990 WHILE IN DRAFT FORM (PRIOR TO FILING WITH THE IRS) AND ASKED TO REVIEW AND SUBMIT COMMENTS TO GMAC MANAGEMENT PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, OFFICER AND KEY EMPLOYEE HAS AN ONGOING OBLIGATION TO DISCLOSE POTENTIAL OR ACTUAL CONFLICTS. FOR DIRECTORS, THE PROFESSIONAL STANDARDS COMMITTEE IS RESPONSIBLE FOR REVIEWING AND DETERMINING WHETHER A CONFLICT EXISTS. THIS COMMITTEE MAKES A RECOMMENDATION TO THE BOARD CONCERNING ANY RESTRICTIONS TO BE PLACED ON THE CONFLICTED DIRECTOR. FOR EMPLOYEES, THE CEO AND THE GENERAL COUNSEL REVIEW POTENTIAL OR ACTUAL CONFLICTS, DETERMINE WHETHER A CONFLICT EXISTS, AND RECOMMEND ACTION. RESTRICTIONS RANGE FROM RECUSAL TO TERMINATION. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS IS RESPONSIBLE FOR DETERMINING THE COMPENSATION OF THE CEO. THE COMPENSATION COMMITTEE ANNUALLY REVIEWS AND APPROVES GMAC CORPORATE GOALS AND OBJECTIVES, EVALUATES THE CEO'S PERFORMANCE IN LIGHT OF SUCH GOALS AND OBJECTIVES AND DETERMINES COMPENSATION BASED ON THIS EVALUATION AND IN ACCORDANCE WITH ANY APPLICABLE EMPLOYMENT AGREEMENT. THE COMMITTEE RETAINS AN INDEPENDENT COMPENSATION CONSULTANT TO ASSIST IN EVALUATING PERFORMANCE, INCLUDING OBTAINING AN ANNUAL COMPARABILITY ANALYSIS AS APPROPRIATE TO COMPLY WITH THE "REBUTTABLE PRESUMPTION" UNDER THE INTERMEDIATE SANCTIONS RULES OF IRC SECTION 4958. THE CEO IS RESPONSIBLE FOR DETERMINING THE COMPENSATION OF TOP MANAGEMENT. GMAC RETAINS INDEPENDENT COMPENSATION CONSULTANTS AND REPUTABLE SALARY SURVEY MARKET DATA TO EVALUATE COMPENSATION COMPARABILITY. THE CEO REVIEWS THE COMPENSATION DATA ANNUALLY FOR ALL OFFICERS (MOST RECENT YEAR IS 2015). EVERY TWO YEARS A COMPENSATION ANALYSIS IS CONDUCTED FOR ALL EMPLOYEES. THE CEO AND CHIEF HR OFFICER REVIEW THE DATA AND DETERMINE APPROPRIATE COMPENSATION (MOST RECENT YEAR IS 2014). FORM 990, PART VI, SECTION C, LINE 19 GMAC MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FINANCIAL STATEMENT ARE GENERALLY INCLUDED IN THE ANNUAL REPORT. FORM 8858, LINE 5: GMAC IS AN U.S. ORGANIZATION THAT OWNS 100% OF THE THREE FOREIGN DISREGARDED ENTITIES (GRADUATE MANAGEMENT ADMISSION COUNCIL (HK), GRADUATE MANAGEMENT ADMISSION COUNCIL (INDIA) PRIVATE LTD. AND GRADUATE MANAGEMENT GLOBAL CONNECTION (UK) LIMITED. GRADUATE MANAGEMENT ADMISSION COUNCIL HONG KONG LIMITED 908 9TH FLOOR KWAH CENTRE NO 19 HK CONDUCT EDUCATIONAL RESEARCH, EXCHANGE INFO AND PROVIDE SVCS HK 1679822 493016 GRADUATE MANAGEMENT ADMISSION COUNCIL GRADUATE MANAGEMENT ADMISSION COUNCIL INDIA PRIVATE LIMITED SUITE 303 3RD FLOOR SUNCITY BUSIN GURAGAON IN 980699911 CONDUCT EDUCATIONAL RESEARCH, EXCHANGE INFO AND PROVIDE SVCS IN 1265415 -23878 GRADUATE MANAGEMENT ADMISSION COUNCIL GRADUATE MANAGEMENT GLOBAL CONNECTION (UK) LTD 11TH FLOOR WHITEFRIARS LEWINS MEAD BRISTOL UK BS1 2NT 980701860 CONDUCT EDUCATIONAL RESEARCH, EXCHANGE INFO AND PROVIDE SVCS UK 2407746 1227268 GRADUATE MANAGEMENT ADMISSION COUNCIL GRADUATE MANAGEMENT GLOBAL CONNECTION (INDIA) PRIVATE LIMITED SUITE 303 3RD FLOOR SUNCITY BUSIN GURAGAON IN CONDUCT EDUCATIONAL RESEARCH, EXCHANGE INFO AND PROVIDE SVCS IN 1510459 1257987 GRADUATE MANAGEMENT ADMISSION COUNCIL