2025-11-12T12:45:52-06:00 2024-12-31 420714325 RSM US LLP 19026 RIDGEWOOD PKWY STE 400 SAN ANTONIO TX 78259 990 2024-01-01 204119317 THE GEORGE W BUSH FOUNDATION GEOR 2142004300 2943 SMU BLVD DALLAS TX 75205 BRIAN S COSSIBOOM VP FINANCE & OPS/TREASURER 2142004335 2025-11-11 1 0 JOSEPHINE BEHREND P00715390 2108286281 2025-11-11 2024 2025-03-06 01:10:19Z GEORGE W BUSH PRESIDENTIAL CENTER SHILO BROOKS 2943 SMU BLVD DALLAS TX 75205 97484580 0 X WWW.BUSHCENTER.ORG X 2006 TX SEE SCHEDULE O FOR MISSION STATEMENT. 25 24 128 175 768539 561736 26865002 40811087 3236557 3245913 12656620 10513248 5742756 1389949 48500935 55960197 1509440 1016670 0 0 16032212 16215433 204962 46525 5111546 17939646 19623400 35686260 36902028 12814675 19058169 636520743 711309527 3417492 3313194 633103251 707996333 X SEE SCHEDULE O FOR MISSION STATEMENT. 0 0 15859862 1010720 THE GEORGE W. BUSH INSTITUTE IS A SOLUTION-ORIENTED NONPARTISAN POLICY ORGANIZATION FOCUSED ON ENSURING OPPORTUNITY FOR ALL, STRENGTHENING DEMOCRACY, AND ADVANCING FREE SOCIETIES. HOUSED WITHIN THE GEORGE W. BUSH PRESIDENTIAL CENTER, THE BUSH INSTITUTE IS ROOTED IN COMPASSIONATE CONSERVATIVE VALUES AND COMMITTED TO CREATING POSITIVE, MEANINGFUL, AND LASTING CHANGE AT HOME AND ABROAD. WE UTILIZE OUR UNIQUE PLATFORM AND CONVENING POWER TO ADVANCE SOLUTIONS TO NATIONAL AND GLOBAL ISSUES OF THE DAY. 8660617 5950 3245913 THE GEORGE W. BUSH PRESIDENTIAL MUSEUM PROMOTES A GREATER UNDERSTANDING OF THE AMERICAN PRESIDENCY AND EXAMINES THE CONSEQUENTIAL TIMES DURING WHICH PRESIDENT AND MRS. BUSH SERVED. THE MUSEUM OFFERS A MOVING EXHIBIT ON SEPTEMBER 11, 2001, A REPLICA OVAL OFFICE, AND AN INTERACTIVE EXPERIENCE IN PRESIDENTIAL DECISION-MAKING. THE MUSEUM IS ALSO HOST TO A VARIETY OF SPECIAL EXHIBITIONS THAT DELVE DEEPLY INTO UNIQUE TOPICS AND PROVIDE INSIGHTS THAT ONLY A PRESIDENTIAL CENTER CAN OFFER. HOUSED WITHIN THE GEORGE W. BUSH PRESIDENTIAL CENTER, THE GEORGE W. BUSH PRESIDENTIAL MUSEUM IS A NONPARTISAN CIVIC INSTITUTION SHOWCASING THE TIMELESS VALUES OF FREEDOM, OPPORTUNITY, ACCOUNTABILITY, AND COMPASSION.SINCE OPENING, 2 MILLION PEOPLE HAVE VISITED THE MUSEUM, INCLUDING ONE TEMPORARY EXHIBIT IN 2023: "FREEDOM MATTERS," WHICH HIGHLIGHTS THE IMPORTANCE OF FREEDOM IN BUILDING PEACEFUL SOCIETIES, HOW THE WORK OF FREEDOM ADVOCATES HAS CHANGED THE LIVES OF MILLIONS, AND WHAT WE ALL CAN LEARN FROM THE STUDY OF HISTORY. 24520479 1 1 0 1 0 0 0 1 0 1 1 1 0 0 1 1 0 1 0 0 1 0 0 1 0 0 0 1 0 1 0 0 0 0 0 0 1 1 1 0 0 0 1 0 0 0 0 1 99 0 1 128 1 1 1 0 0 0 0 1 1 0 0 0 0 0 0 X 25 24 1 0 1 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 AL AR CA FL GA HI IL KS KY ND MD MA MI MN MS NC NH NJ NM NY OR PA RI SC TN UT VA WI WV CO X BRIAN S COSSIBOOM 2142004300 2943 SMU BLVD DALLAS TX 75205 KENNETH A HERSH PRESIDENT & CEO/DIRECTOR 40.00 X X 639000 0 21778 DONALD L EVANS CHAIRMAN/DIRECTOR 5.00 X X 0 0 0 BILL HICKEY VICE CHAIR/DIRECTOR 3.00 X X 0 0 0 REGINALD BROWN DIRECTOR 3.00 X 0 0 0 LAURA W BUSH DIRECTOR 3.00 X 0 0 0 KELLY H COMPTON DIRECTOR 3.00 X 0 0 0 HARLAN CROW DIRECTOR 3.00 X 0 0 0 ANTONIO GARZA DIRECTOR 3.00 X 0 0 0 DYLAN C GLENN DIRECTOR 3.00 X 0 0 0 HENRY C HAGER DIRECTOR 3.00 X 0 0 0 JON D HAMMES DIRECTOR 3.00 X 0 0 0 JOHN W JOHNSON DIRECTOR 3.00 X 0 0 0 JOEL KAPLAN DIRECTOR 3.00 X 0 0 0 JEREMY L KATZ DIRECTOR 3.00 X 0 0 0 MARK LANGDALE DIRECTOR 3.00 X 0 0 0 DINA POWELL MCCORMICK DIRECTOR 3.00 X 0 0 0 MIKE MEECE DIRECTOR 3.00 X 0 0 0 DAVID B MILLER DIRECTOR 3.00 X 0 0 0 PETER PACE DIRECTOR 3.00 X 0 0 0 PAMELA H PATSLEY DIRECTOR 3.00 X 0 0 0 JEANNE L PHILLIPS DIRECTOR 3.00 X 0 0 0 CAREN PROTHRO DIRECTOR 3.00 X 0 0 0 LARRY D THOMPSON DIRECTOR 3.00 X 0 0 0 R GERALD TURNER DIRECTOR 3.00 X 0 0 0 TED ULLYOT DIRECTOR 3.00 X 0 0 0 BRIAN S COSSIBOOM VP FINANCE & OPERATIONS/TREASURER 40.00 X 363010 0 34229 DAVID KRAMER VP EXECUTIVE DIRECTOR - GEORGE BUSH INSTITUTE 40.00 X 363322 0 23806 KERR H GUY SECRETARY/GENERAL COUNSEL 40.00 X 262993 0 17412 KRISTIN N KING COO - GEORGE BUSH INSTITUTE 40.00 X 287005 0 28032 RACHEL EVANS MABRY VICE PRESIDENT, DEVELOPMENT 40.00 X 236324 0 44501 IGOR KHRESTIN MD OF GLOBAL POLICY 40.00 X 289397 0 49879 ANNE ELIZABETH WICKS MD, OPPORTUNITY & DEMOCRACY 40.00 X 272156 0 36817 TERESA SCHUMAN LENLING DIR GEORGE BUSH PRESIDENTIAL MUSEUM 40.00 X 226729 0 34077 JONATHAN DAVID TEPPERMAN EDITOR-IN-CHIEF AND SENIOR FELLOW 40.00 X 219129 0 42756 JAMES HOWARD CULLUM CLARK DIRECTOR, BUSH INSTITUTE-SMU ECONOMIC GROWTH INITI 40.00 X 200549 0 45500 3359614 0 378787 47 0 1 0 KROESCHELL SVCS INC 3222 N KENNICOTT AVE ARLINGTON HEIGHTS IL 60004 FACILITIES AND REPAIRS 1901670 CULINAIRE INTERATIONAL 8303 ELMBROOK DRIVE DALLAS TX 75247 PROGRAM & EVENT SVCS. 701379 SOUTHERN BOTANICAL PO BOX 678128 DALLAS TX 75267 LANDSCAPING SVCS. 408710 BRIGADE LLC 2527 FAIRMOUNT STREET DALLAS TX 75201 PROGRAM & EVENT SVCS. 404587 BILL HILLARY & CHELSEA CLINTON FDN 55 W 125TH ST 14TH FL NEW YORK NY 10027 PROGRAM & EVENT SVCS. 385087 29 112300 40698787 1466689 40811087 MUSEUM TICKET SALES 900099 1668290 1668290 ECONOMIC GROWTH INITIA 900099 1409007 1409007 ENGAGE EVENTS 900099 105973 105973 OVAL OFFICE PHOTO COMM 900099 62643 62643 3245913 8540145 435063 8105082 1008735 347452 661283 661283 44224 617059 43150034 41176931 1973103 1973103 1973103 PARKING REVENUE 900099 347157 10737 336420 RESTAURANT & CATERING 722320 278515 278515 GIFT SHOP COMMISSIONS 459900 45027 45027 57967 57967 728666 55960197 3245913 768539 11134658 1016670 1016670 2362713 1454948 461084 446681 246050 246050 10078193 6518322 1735250 1824621 502410 317348 90555 94507 2179779 1395385 369497 414897 846288 545707 142050 158531 30516 30516 137403 137403 46525 46525 196962 1021 195941 2587697 2510253 47427 30017 330007 328626 507 874 517380 265680 50870 200830 1011702 719202 117786 174714 2473866 1849682 284625 339559 1031470 963387 32325 35758 3051827 2331942 192822 527063 5121407 3714044 698048 709315 383892 270405 53269 60218 BAD DEBT EXPENSE 2412304 2412304 MISCELLANEOUS 286623 71807 167380 47436 UNRELATED BUS INC TAX 50344 50344 36902028 24520479 7270003 5111546 6331283 4454163 21077051 22480205 43888898 47029611 1524359 534589 868003 693140 247453393 108699714 142678510 138753679 312567469 381016725 74384853 83301179 33200317 33046236 636520743 711309527 2564675 2582425 307398 402201 545419 328568 3417492 3313194 X 392119815 434238939 240983436 273757394 633103251 707996333 636520743 711309527 X 19058169 55636144 198769 X 0 1 X 1 0 X 58798656 27390405 31193004 26865002 40811087 185058154 58798656 27390405 31193004 26865002 40811087 185058154 50236317 134821837 4464656 4841313 5673799 7860707 8991817 31832292 40018 513635 271385 561736 1386774 134362 213715 335859 418630 439414 1541980 219819200 17342044 0.61330 0.75630 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GIFT SHOP COMMISSIONS MISCELLANEOUS PARKING FEES RESTAURANT CATERING COMMISSIONS CREDIT CARD REBATE SHIPPING REVENUE BRIGADE ROYALTY PAYMENT RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 0 0 0 35686260 35686260 0 1000000 0 250000 0 0 0 1000000 1000000 1000000 1000000 4000000 6000000 250000 250000 250000 250000 1000000 1500000 SCHEDULE C, PART II-A: THE ORGANIZATION HAD A 501(H) ELECTION IN PLACE BUT DID NOT INCUR ANY LOBBYING EXPENSES DURING THE YEAR. 1048001 X 0 395278186 40656091 63642884 0 16620578 0 482956583 339855077 20793616 48770064 14140571 395278186 376874082 18716157 -45567846 10167316 339855077 298796449 14822243 70376936 7121546 376874082 199530322 70358725 34103720 5196318 298796449 0.55000 0.39000 0.06000 0 0 149174223 44690633 104483590 33397504 3681251 29716253 63436310 60218830 3217480 1445356 109000 1336356 138753679 HEDGE FUNDS 11353028 F REAL ASSETS 15998619 F PRIVATE EQUITY FUNDS 55949532 F 83301179 OPERATING LEASE LIABILITY 328568 328568 X 109554523 55636144 21599 198769 55856512 53698011 196962 2065224 2262186 55960197 34661441 21599 21599 34639842 196962 2065224 2262186 36902028 PART III, LINE 4: WORKS OF ART ARE HELD OR DISPLAYED IN VARIOUS SPACES OF THE GEORGE W. BUSH PRESIDENTIAL CENTER. PART V, LINE 4: THE FOUNDATION'S ENDOWMENT WAS STARTED IN 2014 AND CONSISTS OF INDIVIDUAL ENDOWMENT FUNDS ESTABLISHED FOR A VARIETY OF PURPOSES INCLUDING BOTH DONOR RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF DIRECTORS TO FUNCTION AS ENDOWMENTS. ENDOWMENT DISTRIBUTIONS ARE INTENDED TO SUPPORT GENERAL OPERATING EXPENSES AND OTHER DESIGNATED PURPOSES AS DIRECTED BY THE BOARD OR BY DONORS. PART X, LINE 2: THE GEORGE W. BUSH FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAX UNDER SECTION 501(A) OF THE INTERNAL REVENUE CODE (IRC), AS AN ORGANIZATION DESCRIBED IN SECTION 501(C)(3), AND DETERMINED NOT TO BE A PRIVATE FOUNDATION UNDER SECTION 509(A) OF THE IRC. 2943 HOLDINGS IS A DISREGARDED ENTITY FOR TAX PURPOSES. AS SUCH, CONTRIBUTIONS QUALIFY FOR DEDUCTION AS CHARITABLE CONTRIBUTIONS; HOWEVER, INCOME GENERATED FROM ACTIVITIES UNRELATED TO THE EXEMPT PURPOSE IS SUBJECT TO TAX UNDER IRC SECTION 511. AS OF AND FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023, UNRELATED BUSINESS INCOME TAX LIABILITY AND EXPENSE WERE IMMATERIAL TO THE CONSOLIDATED FINANCIAL STATEMENTS. THE FOUNDATION FOLLOWS GUIDANCE THAT ESTABLISHED CRITERION THAT AN INDIVIDUAL TAX POSITION MUST MEET FOR SOME OR ALL OF THE BENEFITS OF THAT POSITION TO BE RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. THIS STANDARD PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS ONLY IF THE POSITION IS MORE LIKELY THAN NOT TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. NO TAX ACCRUAL FOR UNCERTAIN TAX POSITIONS WAS RECORDED AS MANAGEMENT BELIEVES THERE ARE NO UNCERTAIN TAX POSITIONS FOR THE FOUNDATION. WITH FEW EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE AND LOCAL INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF SPLIT INTEREST 198,769. PART XI, LINE 4B - OTHER ADJUSTMENTS: UNCOLLECTIBLE CONTRIBUTIONS NETTED WITH REVENUE ON FINANCIAL STATEMENTS 2,412,676. RENT EXPENSE -347,452. PART XII, LINE 4B - OTHER ADJUSTMENTS: UNCOLLECTIBLE CONTRIBUTIONS NETTED WITH REVENUE ON FINANCIAL STATEMENTS 2,412,676. RENT EXPENSE -347,452. EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 4449937 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS 71096 SOUTH AMERICA 0 0 INVESTMENTS 79965 MIDDLE EAST AND NORTH AFRICA 0 0 INVESTMENTS 81432 0 0 0 0 0 0 4682430 0 4682430 1 0 1 1 1 0 FORM 990, SCHEDULE F, PART I, LINE 3: THE FOUNDATION'S ENDOWMENT PORTFOLIO INCLUDES CERTAIN PRIVATE EQUITY INVESTMENTS WITH HOLDINGS OUTSIDE THE UNITED STATES. X X X X X X 1 BRAD CECIL & ASSOCIATES 2115 ARLINGTON DOWNS ROAD ARLINGTON TX 76011 DIRECT MAIL 0 279629 19607 260022 279629 19607 260022 AL AK AZ AR CA CO CT DE DC FL GA HI ID IL IN IA KS KY LA MA ME MD MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY 1 COMMUNITIES FOUNDATION OF TEXAS 5500 CARUTH HAVEN LANE DALLAS TX 75225 750967565 501(C)(3) 1002125 0 LIBRARY BOOK GRANTS SOUTHERN METHODIST UNIVERSITY 6425 BOAZ DALLAS TX 75205 750800689 501(C)(3) 8595 0 SCHOLARSHIPS 2 0 PART I, LINE 2: THE FOUNDATION, THROUGH ITS LAURA BUSH FOUNDATION FOR AMERICA'S LIBRARIES FUND (LBFAL FUND), PROVIDED GRANTS FOR THE SUPPORT OF AMERICA'S LIBRARIES AND EDUCATION OF CHILDREN. X 1 1 X X X X 0 0 0 0 0 0 0 0 0 KENNETH A HERSH PRESIDENT & CEO/DIRECTOR 639000 0 0 0 0 0 20700 0 1078 0 660778 0 0 0 BRIAN S COSSIBOOM VP FINANCE & OPERATIONS/TREASURER 330910 0 32100 0 0 0 19730 0 14499 0 397239 0 0 0 DAVID KRAMER VP EXECUTIVE DIRECTOR - GEORGE BUSH INSTITUTE 330822 0 32500 0 0 0 0 0 23806 0 387128 0 0 0 IGOR KHRESTIN MD OF GLOBAL POLICY 264955 0 24442 0 0 0 17967 0 31912 0 339276 0 0 0 KRISTIN N KING COO - GEORGE BUSH INSTITUTE 262430 0 24575 0 0 0 13825 0 14207 0 315037 0 0 0 ANNE ELIZABETH WICKS MD, OPPORTUNITY & DEMOCRACY 251546 0 20610 0 0 0 14238 0 22579 0 308973 0 0 0 RACHEL EVANS MABRY VICE PRESIDENT, DEVELOPMENT 214824 0 21500 0 0 0 13905 0 30596 0 280825 0 0 0 KERR H GUY SECRETARY/GENERAL COUNSEL 241843 0 21150 0 0 0 15316 0 2096 0 280405 0 0 0 JONATHAN DAVID TEPPERMAN EDITOR-IN-CHIEF AND SENIOR FELLOW 199885 0 19244 0 0 0 13515 0 29241 0 261885 0 0 0 TERESA SCHUMAN LENLING DIR GEORGE BUSH PRESIDENTIAL MUSEUM 211450 0 15279 0 0 0 11514 0 22563 0 260806 0 0 0 JAMES HOWARD CULLUM CLARK DIRECTOR, BUSH INSTITUTE-SMU ECONOMI 188749 0 11800 0 0 0 12708 0 32792 0 246049 0 0 0 PRAIRIE CHAPEL MGT SEE PART V 1531418 SEE PART V 0 CULLUM CLARK SEE PART V 246050 SEE PART V 0 SCHEDULE L, PART IV, BUSINESS TRANSACTIONS INVOLVING INTERESTED PERSONS: (A) NAME OF PERSON: PRAIRIE CHAPEL MANAGEMENT ("PCM")(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: LAURA W. BUSH, DIRECTOR, OWNS MORE THAN 35% OF PCM(D) DESCRIPTION OF TRANSACTION: THE FOUNDATION AND PCM HAVE A SHARED SERVICES AGREEMENT WHERE THE FOUNDATION'S PEO ISSUES W-2S FOR EMPLOYEES OF THE FOUNDATION AND PCM. AS INDICATED IN SECTION 1 OF THE SHARED SERVICES AGREEMENT, THE FOUNDATION IS REIMBURSED FOR EACH EMPLOYEE THAT PERFORMS SERVICES FOR PCM.(A) NAME OF PERSON: CULLUM CLARK(B) RELATIONSHIP BETWEEN INTERESTED PERSON AND ORGANIZATION: FAMILY MEMBER OF DIRECTOR, CAREN PROTHRO(D) DESCRIPTION OF TRANSACTION: MR. CLARK IS AN EMPLOYEE OF THE FOUNDATION AND RECEIVES COMPENSATION FROM THE FOUNDATION. X 13 1411195 FMV X THEME PARK TICKETS 1 49896 FMV X PLANE TICKETS 1 5598 FMV 1 0 1 1 PART I, COLUMN (B): THE NUMBER ON PART I, COLUMN (B) REPRESENTS TOTAL NUMBER OF CONTRIBUTORS. PART I, LINE 32B: THE FOUNDATION'S BROKERAGE FIRM IS AUTHORIZED TO SELL DONATED SECURITIES ON ITS BEHALF. FORM 990, PART I, ITEM C DBA: GEORGE W. BUSH INSTITUTE DBA: GEORGE W. BUSH PRESIDENTIAL MUSEUM DBA: GEORGE W. BUSH PRESIDENTIAL CENTER FORM 990, PART I, LINE 1: ENDOW A PRESIDENTIAL ARCHIVAL DEPOSITORY TO HOUSE AND PRESERVE DOCUMENTS, PAPERS AND OTHER MEMORABILIA OF PRESIDENT GEORGE W. BUSH AND PROMOTE THE VALUES OF FREEDOM, OPPORTUNITY, ACCOUNTABILITY, AND COMPASSION THROUGH THE OPERATION OF THE GEORGE W. BUSH PRESIDENTIAL CENTER AND INSTITUTE. FORM 990, PART III, LINE 1: THE FOLLOWING ARE THE PURPOSES FOR WHICH THE CORPORATION IS ORGANIZED AS SET FORTH IN THE CERTIFICATE OF FORMATION: THE PURPOSES FOR WHICH THE CORPORATION IS ORGANIZED ARE (I) TO ENDOW A PRESIDENTIAL ARCHIVAL DEPOSITORY, AS DEFINED BY SECTION 2101(1) OF TITLE 44 OF THE UNITED STATES CODE ANNOTATED, IN AN AMOUNT REQUIRED BY SUBSECTION (G) OF SECTION 2112 OF TITLE 44 OF THE UNITED STATES CODE ANNOTATED, TO HOUSE AND PRESERVE AT THE GEORGE W. BUSH PRESIDENTIAL LIBRARY AND MUSEUM THE BOOKS, DOCUMENTS, PAPERS, PICTURES, PHOTOGRAPHS, AND OTHER MEMORABILIA OF PRESIDENT GEORGE W. BUSH, AS WELL AS OTHER OBJECTS OR MATERIALS RELATED TO THE PAPERS OR EVENTS OF THE OFFICIAL OR PERSONAL LIFE OF PRESIDENT BUSH THAT HAVE HISTORICAL OR COMMEMORATIVE VALUE, AND TO UNDERTAKE AND SUPPORT RESEARCH AND EDUCATIONAL ACTIVITIES ON POLICY AND ISSUES THAT RELATE TO THE LIFE AND WORK OF PRESIDENT BUSH THEREBY PROMOTING SUCH LIBRARY AND MUSEUM, AND THE VALUES OF FREEDOM, OPPORTUNITY, ACCOUNTABILITY, AND COMPASSION, AS ARTICULATED BY PRESIDENT GEORGE W. BUSH WHEN HE STATED : "WE BELIEVE IN PRIVATE MARKETS, HUMANIZED BY COMPASSIONATE GOVERNMENT. WE BELIEVE IN ECONOMIES THAT REWARD EFFORT, COMMUNITIES THAT PROTECT THE WEAK, AND THE DUTY OF NATIONS TO RESPECT THE DIGNITY AND THE RIGHTS OF ALL:" (II) TO MAINTAIN A FUND OR FUNDS OF REAL OR PERSONAL PROPERTY, OR BOTH, AND (SUBJECT TO THE RESTRICTIONS AND LIMITATIONS HEREINAFTER SET FORTH) TO EXPEND OR DISTRIBUTE THE WHOLE OR ANY PART OF THE INCOME OR PRINCIPAL THEREOF EXCLUSIVELY FOR THE PROMOTION OR OPERATION OF THE GEORGE W. BUSH PRESIDENTIAL LIBRARY AND MUSEUM, THE GEORGE W. BUSH PRESIDENTIAL CENTER; AND THE GEORGE W. BUSH INSTITUTE WHOSE ACTIVITIES PROMOTE THE LIBRARY AND MUSEUM; (III) TO PROMOTE LIBRARIES; AND (IV) TO PERFORM ANY OTHER RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY, OR EDUCATIONAL ACTIVITIES THAT PROMOTE SUCH FOREGOING PURPOSES. THE CORPORATION PLEDGES ALL OF ITS ASSETS FOR USE IN PERFORMING THESE PURPOSES. FORM 990, PART VI, SECTION A, LINE 1A THE CORPORATION'S BYLAWS PROVIDE THE BOARD OF DIRECTORS SHALL CREATE AN EXECUTIVE COMMITTEE OF THE BOARD CONSISTING OF THE CHAIR OF THE BOARD OF DIRECTORS, THE PRESIDENT OF SMU, THE PRESIDENT OF THE FOUNDATION, AND TWO OTHER MEMBERS OF THE BOARD OF DIRECTORS. A QUORUM FOR THIS EXECUTIVE COMMITTEE FOR DECISIONS SHALL REQUIRE THE CHAIR OF THE BOARD OF DIRECTORS, THE PRESIDENT OF SMU AND ONE OTHER MEMBER OF THE BOARD OF DIRECTORS SERVING ON THE EXECUTIVE COMMITTEE. THE EXECUTIVE COMMITTEE SHALL HAVE THE AUTHORITY TO ACT ON BEHALF OF THE CORPORATION IN BETWEEN REGULAR MEETINGS OF THE BOARD OF DIRECTORS. EXCEPT TO THE EXTENT AUTHORITIES OF THE BOARD OF DIRECTORS ARE DELEGATED TO THE EXECUTIVE COMMITTEE BY A DULY PASSED RESOLUTION OF THE BOARD OF DIRECTORS, THE BOARD OF DIRECTORS MUST VALIDATE THE ACTIONS OF THE EXECUTIVE COMMITTEE AT ITS NEXT REGULAR OR SPECIAL MEETING. ANY SUCH ACTION REQUIRING VALIDATION WHICH IS NOT SO VALIDATED WILL NOT BE LEGALLY BINDING ON THE CORPORATION. THE CHAIR OF THE BOARD OF DIRECTORS SHALL ACT AS CHAIR OF THE EXECUTIVE COMMITTEE. ALL DECISIONS OF THE EXECUTIVE COMMITTEE SHALL BE BY A MAJORITY VOTE OF THOSE PRESENT. FORM 990, PART VI, SECTION A, LINE 2 LAURA BUSH AND HENRY HAGER: FAMILY RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 4 ADOPTED THE NINTH AMENDED AND RESTATED BYLAWS OF THE GEORGE W. BUSH FOUNDATION TO ENHANCE THE PURPOSE AND OPERATIONS (SECTION 7.1) TO SPECIFICALLY INCLUDE THE ORGANIZATION'S CORE VALUES TYING THE WORK OF THE BUSH CENTER TO A HISTORICAL QUOTE FROM PRESIDENT GEORGE W. BUSH. FORM 990, PART VI, SECTION A, LINE 7A BY VIRTUE OF THEIR OFFICES, THE PRESIDENT OF THE CORPORATION AND THE PRESIDENT OF SOUTHERN METHODIST UNIVERSITY ("SMU") EACH SHALL SERVE AS A DIRECTOR. SMU HAS THE RIGHT TO DESIGNATE ONE OR MORE PERSON(S) TO SERVE AS A DIRECTOR OF THE CORPORATION IN ACCORDANCE WITH A GOVERNANCE AGREEMENT BETWEEN THE CORPORATION AND SMU, SUBJECT TO OBJECTION RIGHTS OF THE CORPORATION'S CHAIR. FORM 990, PART VI, SECTION B, LINE 11B THE CORPORATION HIRES AN INDEPENDENT ACCOUNTING FIRM TO PREPARE AND REVIEW THE CORPORATION'S FORM 990 BASED ON INFORMATION PROVIDED BY THE CORPORATION'S ACCOUNTING STAFF. A COPY OF THE FORM 990 IS PROVIDED TO THE CORPORATION'S PRESIDENT, SECRETARY, CHIEF FINANCIAL OFFICER, AND LEGAL COUNSEL FOR INITIAL REVIEW. A COPY OF THE FORM 990 IS THEN PROVIDED TO ALL BOARD MEMBERS FOR A FINAL REVIEW PRIOR TO BEING FILED WITH THE INTERNAL REVENUE SERVICE AND CERTAIN STATE REPORTING AGENCIES. FORM 990, PART VI, SECTION B, LINE 12C IN ACCORDANCE WITH THE CORPORATION'S CONFLICT OF INTEREST POLICY, EACH DIRECTOR, PRINCIPAL OFFICER, AND MEMBER OF A COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS ANNUALLY SIGNS A STATEMENT WHICH AFFIRMS THAT SUCH PERSON HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, HAS READ AND UNDERSTANDS THE POLICY, HAS AGREED TO COMPLY WITH THE POLICY, AND UNDERSTANDS THE CORPORATION IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION MUST ENGAGE PRIMARILY IN ACTIVITIES, WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. IF THE GOVERNING BOARD OR COMMITTEE HAS REASONABLE CAUSE TO BELIEVE A MEMBER HAS FAILED TO DISCLOSE ACTUAL OR POSSIBLE CONFLICTS OF INTEREST, IT SHALL INFORM THE MEMBER OF THE BASIS FOR SUCH BELIEF AND AFFORD THE MEMBER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE MEMBER'S RESPONSE AND AFTER MAKING FURTHER INVESTIGATION AS WARRANTED BY THE CIRCUMSTANCES, THE GOVERNING BOARD OR COMMITTEE DETERMINES THE MEMBER HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT SHALL TAKE APPROPRIATE DISCIPLINARY AND CORRECTIVE ACTION. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION FOR THE PRESIDENT AND CEO IS APPROVED BY THE BOARD OF DIRECTORS DURING THE EXECUTIVE SESSION OF BOARD MEETINGS. A MANAGEMENT CONSULTING FIRM PROVIDES MARKET COMPENSATION DATA TO THE BOARD FOR ITS USE IN MAKING THESE COMPENSATION DECISIONS. THE COMPENSATION OF THE OTHER KEY EMPLOYEES IS DETERMINED BY THE PRESIDENT OF THE FOUNDATION. IN ADDITION, SALARY SURVEYS ARE PERIODICALLY COMPLETED BY AN EXTERNAL COMPENSATION CONSULTANT TO ESTABLISH SALARY RANGES FOR EACH POSITION IN THE CORPORATION BASED ON COMPARABLE POSITIONS AT COMPARABLE ORGANIZATIONS. BOARD DECISIONS REGARDING THE COMPENSATION OF THE CEO ARE COMMUNICATED BY THE CHAIR TO THE TREASURER FOR EXECUTION. THE DOCUMENTATION FOR ALL OTHER COMPENSATION DETERMINATIONS IS RETAINED BY THE HUMAN CAPITAL DEPARTMENT. FORM 990, PART VI, SECTION C, LINE 19 THE CORPORATION COMPLIES WITH VARIOUS STATE CHARITABLE ORGANIZATION REPORTING REQUIREMENTS BY PROVIDING, WHEN REQUIRED, A COPY OF THE ANNUAL AUDITED FINANCIAL STATEMENTS, GOVERNING DOCUMENTS AND THE FORM 990. THE STATES MAKE THE FILED INFORMATION AVAILABLE TO THE PUBLIC. THE AUDITED FINANCIAL STATEMENTS, FORM 990, FORM 1023, CONFLICT OF INTEREST POLICY AND FORM 990-T ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: CHANGES IN VALUE OF SPLIT INTEREST ASSET 198,769. 2943 HOLDINGS LLC 2943 SMU BLVD DALLAS TX 75205 REAL ESTATE HOLDING TX 0 650000 THE GEORGE W BUSH FOUNDATION