2025-11-13T09:12:11-06:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP 950 NORTH GLEBE ROAD SUITE 1200 ARLINGTON VA 22203 990 2024-07-01 840502574 ASSOCIATION OF GOVERNING BOARDS OF UNIVERSITIES AND COLLEGES ASSO 2022968400 1666 K STREET NW 1200 WASHINGTON DC 20006 ROSS MUGLER INTERIM PRESIDENT AND CEO 2022968400 2025-11-12 1 0 ROBERT WILLIAMS P01345960 5712279500 2025-11-12 2024 2025-03-06 01:10:19Z ROSS MUGLER 1666 K STREET NW 1200 WASHINGTON DC 20006 17119601 0 X AGB.ORG X 1974 DC PREPARING COLLEGE, UNIVERSITY, AND FOUNDATION GOVERNING BOARDS TO FULFILL THEIR FIDUCIARY DUTIES 10 9 53 497 159563 0 1636390 2184050 13803273 13084829 783521 850557 601620 614426 16824804 16733862 0 0 0 0 7754472 7906568 0 0 587289 8684583 7903940 16439055 15810508 385749 923354 24371356 25643519 10470294 10046144 13901062 15597375 X THE ASSOCIATION OF GOVERNING BOARDS OF UNIVERSITIES AND COLLEGES ADVANCES HIGHER EDUCATION AS A PUBLIC GOOD BY PREPARING COLLEGE, UNIVERSITY, AND FOUNDATION GOVERNING BOARDS TO FULFILL THEIR FIDUCIARY DUTIES AND EXEMPLIFY THE HIGHEST IDEALS OF TRUSTEESHIP. 0 0 7500433 0 10598613 CONFERENCES, INSTITUTES, CONVENINGS, AND AGB CONSULTING: AGB'S CONFERENCES, INSTITUTES, WEBINARS, AND CONVENINGS PROVIDE CRITICAL EDUCATION AND PROFESSIONAL DEVELOPMENT TO HIGHEREDUCATION GOVERNING BOARDS, SENIOR ADMINISTRATORS, AND KEY STAKEHOLDERS. THESE PROGRAMS EQUIP PARTICIPANTS WITH BEST PRACTICES, EMERGING TRENDS, AND GOVERNANCE STRATEGIES NECESSARY TO ADDRESS COMPLEX CHALLENGES IN HIGHER EDUCATION. AGB OFFERED A RANGE OF VIRTUAL AND IN-PERSON EVENTS, INCLUDING THE FOUNDATION LEADERSHIP FORUM, BOARD PROFESSIONALS CONFERENCE, NATIONAL CONFERENCE ON TRUSTEESHIP, SPECIALIZED INSTITUTES FOR BOARD CHAIRS AND PRESIDENTS, AND VIRTUAL EVENTS FOCUSED ON PRESSING ISSUES LIKE FINANCIAL SUSTAINABILITY AND BOARD ENGAGEMENT. AGB PROACTIVELY CONVENES MEMBERS FOR ADVISORY COUNCILS, CONTENT AND PROGRAM ADVISORY GROUPS, AND EDITORIAL ADVISING. AGB CONSULTING CONTINUED TO DELIVER CUSTOMIZED GUIDANCE AND SUPPORT SERVICES TO INSTITUTIONS AND FOUNDATIONS, HELPING STRENGTHEN GOVERNING BOARDS AND POSITION THEM FOR SUCCESS. SERVICES INCLUDED BOARD ASSESSMENTS, SUCCESSION PLANNING, GOVERNANCE REVIEWS, STRATEGIC PLANNING, AND MERGER AND PARTNERSHIP STRATEGY. 1842761 0 1646001 INSIGHTS, RESEARCH, TOOLS AND OTHER RESOURCES: IN ADDITION TO TRUSTEESHIP MAGAZINE PUBLISHED SIX TIMES PER YEAR FOR MEMBERS, AGB PUBLISHES BOOKS, REPORTS, BOARD STATEMENTS, BLOGS, SURVEY FINDINGS, WEBINARS, VIDEOS, PODCASTS, AND OTHER RESOURCES. THESE ARE CONTAINED IN THE AGB KNOWLEDGE CENTER ON AGB.ORG, WHICH SERVES AS A CONTENT HUB FOR BEST PRACTICES, EXPERT INSIGHTS, RESEARCH REPORTS, TOOLS AND TOOLKITS, AND OTHER EDUCATIONAL MATERIALS. ADDITIONALLY, AGB OFFERS NEW BOARD MEMBER ORIENTATION FOR INTRODUCING BOARD MEMBERS TO HIGHER EDUCATION GOVERNANCE, ESSENTIAL BOARD RESPONSIBILITIES, BOARD COMPOSITION, AND BOARDROOM CULTURE, AND A BOARD PROFESSIONAL CERTIFICATE PROGRAM. 908453 0 825215 ADVOCACY AND PUBLIC POLICY: AGB WORKS TO ENSURE THE VIEWS OF OUR MEMBERS ARE AT THE FOREFRONT OF STATE AND FEDERAL POLICY DISCUSSIONS REGARDING BOARD GOVERNANCE, INSTITUTIONAL LEADERSHIP, STUDENT SUCCESS, AND INSTITUTIONAL VITALITY. WE WORK TO IMPROVE SOCIETY'S UNDERSTANDING AND PERCEPTION OF THE VALUE OF HIGHER EDUCATION, AND WE SPONSOR A NUMBER OF OTHER ADVOCACY PROJECTS THAT ADDRESS PRESSING ISSUES IN HIGHER EDUCATION. 10251647 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 110 0 1 53 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 10 9 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 NY X MARIA NAZARETH SR VICE PRESIDENT 2027760814 1666 K STREET NW SUITE 1200 WASHINGTON DC 20006 RODERICK MCDAVIS PRINCIPAL 1.00 39.00 X 0 370237 65185 MARY PAPAZIAN EXECUTIVE VP UNTIL 06/25 40.00 0.00 X 358658 0 50186 PATRICIA KUNKLE SENIOR VICE PRESIDENT 40.00 0.00 X 353724 0 40292 MARIA NAZARETH SENIOR VP & TREASURER 40.00 0.00 X 319213 0 75100 ELLEN CHAFFEE INT. PRESIDENT & CEO UNTIL 08/24 39.00 1.00 X 315332 0 0 CHRISTINA JACOBS SENIOR VICE PRESIDENT 40.00 0.00 X 312899 0 39557 CRISTIN J TOUTSI GRIGOS SENIOR VICE PRESIDENT 40.00 0.00 X 239018 0 50969 FRAMROZE VIRJEE PRESIDENT & CEO FROM 08/24-02/25 39.00 1.00 X 226647 0 8625 LARRY ROBERTSON SENIOR VICE PRESIDENT 40.00 0.00 X 219960 0 38169 DAVID BASS VP PROGRAM STRATEGY AS OF 04/25 40.00 0.00 X 188600 0 32100 ANDREW LOUNDER ASSOCIATE VP OF PROGRAMS 40.00 0.00 X 179531 0 24213 MEGAN CLARKE ASSOCIATE VP OF MARKETING & DIGITAL EXP. 40.00 0.00 X 170880 0 17719 GERARD BAYANI DIRECTOR OF ACCOUNTING 40.00 0.00 X 161646 0 30934 NANCY STEELBERG MARKETING DIRECTOR 40.00 0.00 X 151889 0 15570 BEN DAVID ROWE MANAGING DIRECTOR 40.00 0.00 X 103141 0 3048 ROSS A MUGLER CHAIR & CEO AS OF 03/25 7.00 0.00 X X 0 0 0 PAUL BRAJCICH VICE CHAIR 5.00 0.00 X X 0 0 0 KATHERINE SAWYER VICE CHAIR 5.00 1.00 X X 0 0 0 ELEANOR HORNE VICE CHAIR LOA FROM 12/2024 5.00 5.00 X X 0 0 0 SHAUNA RYDER DIGGS SECRETARY 5.00 5.00 X X 0 0 0 CATHY HAVENER GREER DIRECTOR 3.00 0.00 X 0 0 0 WILLIAM THOMPSON JR DIRECTOR 1.00 0.00 X 0 0 0 NICOLE WASHINGTON DIRECTOR 1.00 0.00 X 0 0 0 DAVID WILSON DIRECTOR 1.00 1.00 X 0 0 0 MARIE A SULLIVAN DIRECTOR 1.00 0.00 X 0 0 0 SHANE JACOBSON DIRECTOR 1.00 1.00 X 0 0 0 RONALD C PARKER DIRECTOR UNTIL 02/2025 1.00 1.00 X 0 0 0 CYNTHIA SHAPIRA DIRECTOR UNTIL 05/2025 1.00 1.00 X 0 0 0 E THOMAS SULLIVAN DIRECTOR LOA FROM 03/2025 1.00 1.00 X 0 0 0 3301138 370237 491667 26 0 1 0 PAUL FRIGA 126 CRIMSON OAK DR DURHAM NC 27713 CONSULTING 474608 THOMAS K HYATT PLLC 1717 K ST NW SUITE 900 WASHINGTON DC 20006 LEGAL 226302 TANYA MARIE SPILOVOY 3438 CROCUS AVE BISMARCK ND 58501 CONSULTING 167280 MAH HIGHER EDUCATION CONSULTING LLC 9766 NICKEL RIDGE CIR NAPLES FL 34120 CONSULTING 157458 FOSS CONSULTING GROUP 10462 RAVEN CT FOLEY MN 56329 CONSULTING 148500 9 50000 2134050 2184050 MEMBERSHIP DUES 900099 7583560 7583560 SEMINARS AND WORKSHOPS 900099 3187563 3187563 AGB CONSULTING 900099 2221672 2221672 PUBLICATION SALES 900099 92034 77034 15000 13084829 821296 821296 401000 401000 144563 0 144563 144563 144563 415000 385739 29261 29261 29261 OTHER REVENUE 900099 68863 68863 68863 16733862 13069829 159563 1320420 X 2752571 755417 1929175 67979 3871334 2666133 999523 205678 338723 229593 91201 17929 477373 294117 174659 8597 466567 262434 182204 21929 294794 294794 39261 39261 30000 30000 2875436 2336432 336867 202137 262118 234487 27431 200 223341 159671 62288 1382 492949 285035 190117 17797 462781 312338 128499 21944 1861948 1856705 5243 177657 106181 64452 7024 72270 55206 15277 1787 DUES & SUBSCRIPTIONS 503313 249062 249078 5173 PRINTING & DESIGN 290938 286361 4512 65 SPECIAL PROJECT/CONTING 289302 162475 124402 2425 27832 27832 15810508 10251647 4971572 587289 1097831 512091 5398363 6644207 126000 16150 403235 557314 14202 37018 422424 425282 2027413 660675 1512724 1366738 11636087 12503153 50000 50000 3710490 3531566 24371356 25643519 601197 515390 4112228 3910854 5756869 5619900 10470294 10046144 X 13735698 14517760 165364 1079615 13901062 15597375 24371356 25643519 923354 772959 0 X 0 1 X 1 0 X 952404 2467748 1823033 1636390 2184050 9063625 11625747 12224521 12789630 13789477 13084829 63514204 12578151 14692269 14612663 15425867 15268879 72577829 44250 24500 3500 115250 2000 189500 0 44250 24500 3500 115250 2000 189500 72388329 2078969 1114519 1488282 1164003 1366859 7212632 2078969 1114519 1488282 1164003 1366859 7212632 184487 1769 39557 68863 294676 14657120 15991275 16102714 16629427 16704601 80085137 0.90390 0.89810 0.09010 0.09600 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: OTHER REVENUE - 2021 AMOUNT: $ 184,487. 2022 AMOUNT: $ 1,769. 2023 AMOUNT: $ 39,557. 2024 AMOUNT: $ 68,863. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 0 0 0 1 38890 0 1 18000 56890 0 FORM 990, SCHEDULE C, PART 1-A, LINE 1: AGB CLOSELY MONITORED A WIDE RANGE OF ISSUES DURING THE PAST FISCAL YEAR PARTICULARLY THOSE WITH DIRECT IMPLICATIONS FOR THE FIDUCIARY RESPONSIBILITIES OF GOVERNING BOARDS OF COLLEGES, UNIVERSITIES, AND THEIR RELATED FOUNDATIONS. AGB'S ADVOCACY EFFORTS, IN COLLABORATION WITH THE HIGHER EDUCATION COMMUNITY, FOCUSED ON THE EVOLVING FEDERAL LANDSCAPE RELATED TO NEW POLICY CHANGES IMPLEMENTED BY THE U.S. DEPARTMENT OF EDUCATION AND THE PASSAGE OF THE BUDGET RECONCILIATION LEGISLATION ALSO KNOWN AS THE "ONE BIG BEAUTIFUL BILL (OBBB)." AGB ENGAGED ITS MEMBERS AND PARTNERS ON OTHER REGULATORY ACTIONS INITIATED BY THE DEPARTMENT OF EDUCATION AND PROVIDED GUIDANCE TO BOARDS NAVIGATING SHIFTING POLICIES IN THE HIGHER EDUCATION SECTOR. THE ASSOCIATION ALSO CONTINUED ITS EDUCATION EFFORTS WITH ITS PARTNERS AND MEMBERS ON THE FAST-MOVING CHANGES TO THE FEDERAL POLICY LANDSCAPE. 0 9723190 1161702 415000 10469892 8944679 1183511 405000 9723190 8397769 936910 390000 8944679 10512731 -1739962 375000 8397769 8244932 2632799 365000 10512731 1.00000 0.00000 0.00000 0 0 1586046 334991 1251055 264846 172372 92474 176521 153312 23209 1366738 DEFERRED COMP. INVEST. ACCT 346842 GUARANTY AND SECURITY DEPOSITS 144885 RIGHT OF USE ASSET 3039839 3531566 DEFERRED COMP. LIABILITY ACCT 346842 RIGHT OF USE LIABILITY 5273058 5619900 X 17521071 772959 44250 817209 16703862 30000 30000 16733862 15824758 44250 44250 15780508 30000 30000 15810508 PART X, LINE 2: THE ASSOCIATION DOES NOT BELIEVE THERE ARE ANY MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, WILL NOT RECOGNIZE ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. AGB HAS FILED FOR INCOME TAX EXEMPTIONS IN THE JURISDICTIONS WHERE IT IS REQUIRED TO DO SO. ADDITIONALLY, AGB FILES INTERNAL REVENUE FORM 990 TAX RETURNS AS REQUIRED AND ALL APPLICABLE RETURNS IN THOSE JURISDICTIONS WHERE IT IS REQUIRED. THE ASSOCIATION BELIEVES THAT THEY ARE NO LONGER SUBJECT TO U.S. FEDERAL, STATE AND LOCAL, OR NON-U.S. INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2019. FOR THE YEARS ENDED JUNE 30, 2025 AND 2024, THERE WERE NO INTEREST OR PENALTIES RECORDED IN THE CONSOLIDATED STATEMENTS OF ACTIVITIES. X X 1 1 X X X X 1 0 0 0 0 0 0 0 0 RODERICK MCDAVIS PRINCIPAL 0 367951 0 0 0 2286 0 38115 0 27070 0 435422 0 0 MARY PAPAZIAN EXECUTIVE VP UNTIL 06/25 342926 0 15000 0 732 0 34836 0 15350 0 408844 0 0 0 PATRICIA KUNKLE SENIOR VICE PRESIDENT 232505 0 120500 0 719 0 25403 0 14889 0 394016 0 0 0 MARIA NAZARETH SENIOR VP & TREASURER 303348 0 15000 0 865 0 58860 0 16240 0 394313 0 0 0 ELLEN CHAFFEE INT. PRESIDENT & CEO UNTIL 08/24 315332 0 0 0 0 0 0 0 0 0 315332 0 0 0 CHRISTINA JACOBS SENIOR VICE PRESIDENT 296680 0 15500 0 719 0 36306 0 3251 0 352456 0 0 0 CRISTIN J TOUTSI GRIGOS SENIOR VICE PRESIDENT 223356 0 15000 0 662 0 25695 0 25274 0 289987 0 0 0 FRAMROZE VIRJEE PRESIDENT & CEO FROM 08/24-02/25 200216 0 0 0 26431 0 8625 0 0 0 235272 0 0 0 LARRY ROBERTSON SENIOR VICE PRESIDENT 204241 0 15000 0 719 0 22601 0 15568 0 258129 0 0 0 DAVID BASS VP PROGRAM STRATEGY AS OF 04/25 184479 0 3500 0 621 0 18661 0 13439 0 220700 0 0 0 ANDREW LOUNDER ASSOCIATE VP OF PROGRAMS 138667 0 0 0 40864 0 12941 0 11272 0 203744 0 0 0 MEGAN CLARKE ASSOCIATE VP OF MARKETING & DIGITAL 165351 0 5000 0 529 0 16535 0 1184 0 188599 0 0 0 GERARD BAYANI DIRECTOR OF ACCOUNTING 153160 0 8000 0 486 0 15365 0 15569 0 192580 0 0 0 NANCY STEELBERG MARKETING DIRECTOR 146363 0 5000 0 526 0 14636 0 934 0 167459 0 0 0 PART I, LINE 1A TRAVEL FOR COMPANIONS - AGB'S PAST PRESIDENT, FRAMROZE VIRJEE, HAD A CONTRACT WITH AGB. THE TERMS OF THE CONTRACT ALLOWED FOR REIMBURSEMENT OF TRAVEL EXPENSES TO MEETINGS AND EVENTS WHERE THE SPOUSE'S PARTICIPATION WAS DIRECTLY RELATED TO THE WORK OF THE ASSOCIATION. PERSONAL SPOUSAL TRAVEL WAS NOT REIMBURSED. PART I, LINE 4A HENRY STOEVER, FORMER PRESIDENT AND CEO, RECEIVED $80,726 IN SEVERANCE DURING CALENDAR YEAR 2024. HE SEPARATED FROM AGB ON SEPTEMBER 1, 2023. IN CALENDAR YEAR 2024, BEN DAVID ROWE, MANAGING DIRECTOR, RECEIVED A SEVERANCE PAYMENT OF $92,308. HE SEPARATED FROM AGB ON JANUARY 1, 2024. FORM 990, PART VI, SECTION A, LINE 1A COMMITTEES. THE BOARD OF DIRECTORS, BY RESOLUTION ADOPTED BY A MAJORITY OF THE ENTIRE BOARD OF DIRECTORS, MAY DESIGNATE FROM AMONG ITS MEMBERS ONE OR MORE COMMITTEES, EACH COMMITTEE TO CONSIST OF NO FEWER THAN THREE (3) NOR MORE THAN EIGHT (8) DIRECTORS, UNLESS OTHERWISE SPECIFIED HEREIN. COMMITTEES MAY BE STANDING OR MAY BE FORMED ON AN AD HOC BASIS FOR A DEFINED PERIOD OF TIME OR EFFORT AS PROVIDED FOR IN THE RESOLUTION. THE BOARD MAY ALSO ESTABLISH SUCH PROJECT TEAMS, WORKING GROUPS, AND SIMILAR BODIES AS IT DEEMS USEFUL, AND SHALL PROVIDE FOR THE DUTIES AND RESPONSIBILITIES OF SUCH BODIES IN A RESOLUTION OR POLICY. THE BOARD CHAIR SHALL SELECT AND APPOINT THE MEMBERS AND THE CHAIR OF ALL COMMITTEES, UNLESS OTHERWISE SPECIFIED HEREIN. THE BOARD CHAIR SHALL SERVE AS AN EX OFFICIO MEMBER OF ALL COMMITTEES BUT SHALL NOT BE COUNTED FOR PURPOSES OF A QUORUM UNLESS THE BOARD CHAIR ATTENDS THE COMMITTEE MEETING. THE BOARD CHAIR MAY ALSO FROM TIME TO TIME APPOINT ONE OR MORE PERSONS AS CONSULTING, NON-VOTING MEMBERS OF A BOARD COMMITTEE TO SERVE AT THE PLEASURE OF THE BOARD AND SUCH PERSONS NEED NOT BE DIRECTORS AND SHALL NOT COUNT TOWARDS THE COMMITTEE SIZE PERMITTED BY THIS SECTION. DIRECTORS WHO ARE NOT MEMBERS OF A COMMITTEE MAY ATTEND AND PARTICIPATE IN SUCH COMMITTEE'S MEETINGS AT THE PREROGATIVE OF THE COMMITTEE CHAIR BUT SHALL NOT HAVE A VOTE ON SUCH COMMITTEE. THE PROVISIONS OF THESE BYLAWS REGARDING MEETINGS, ACTION WITHOUT MEETINGS, NOTICE AND WAIVER OF NOTICE, AND QUORUM AND VOTING REQUIREMENTS OF THE BOARD OF DIRECTORS, SHALL APPLY TO COMMITTEES AND THEIR MEMBERS AS WELL. THE PRESIDENT SHALL ARRANGE FOR THE STAFF OF THE ASSOCIATION TO PROVIDE SUFFICIENT SUPPORT FOR EACH COMMITTEE TO ENABLE IT TO DISCHARGE ITS DUTIES. EACH COMMITTEE SHALL EXERCISE THE AUTHORITY OF THE BOARD OF DIRECTORS TO THE EXTENT AUTHORIZED BY THE BOARD OF DIRECTORS. STANDING COMMITTEES SHALL INCLUDE AN AUDIT AND ERM COMMITTEE; A FINANCE COMMITTEE; A COMPENSATION COMMITTEE; A POLICY INITIATIVES COMMITTEE; A GOVERNANCE COMMITTEE; AND AN EXECUTIVE COMMITTEE. DUTIES AND RESPONSIBILITIES OF THESE AND ANY COMMITTEES OF THE BOARD SHALL BE SET FORTH IN A CHARTER, SUBJECT TO THE APPROVAL OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE OFFICE TRANSMITS SCHEDULES AND CHECKLISTS TO THE RETURN PREPARER TWO MONTHS BEFORE THE DUE DATE. THE PRESIDENT, AND SENIOR VICE PRESIDENT FOR FINANCE, CONDUCT AN INTERNAL REVIEW OF DRAFT FORMS 990 IN THE THIRD WEEK OF OCTOBER. THE SENIOR VICE PRESIDENT FOR FINANCE TRANSMITS THE DRAFT FORM 990 TO AGB'S AUDIT AND ERM COMMITTEE AND THE BOARD OF DIRECTORS AFTER THE INTERNAL REVIEW IS CONDUCTED. THE MEMBERS OF THE AUDIT AND ERM COMMITTEE HAVE A WEEK FOR REVIEW, COMMENTS AND QUESTIONS AFTER WHICH THE COMMITTEE MEETS ON A CONFERENCE CALL. ALL MEMBERS OF THE BOARD ARE INVITED TO JOIN THE CALL SCHEDULED IN THE FIRST WEEK OF NOVEMBER. THE REVIEW OF FORM 990 IS CONDUCTED BY THE AUDIT AND ERM COMMITTEE. PARTICIPATION OF ALL DIRECTORS IS WELCOME AND ENCOURAGED. THE REVIEW BEGINS WITH THE PRESENTATION OF DATA TO THE COMMITTEE BY THE SENIOR VICE PRESIDENT FOR FINANCE. UNDERLYING DATA THAT SUPPORTS THE RETURNS MAY BE REQUESTED BY THE COMMITTEE. THE COMMITTEE REVIEWS THE RETURNS TO ENSURE THEY ARE CONSISTENT WITH THE FINANCIAL STATEMENTS, THE GOVERNANCE QUESTIONS ARE ANSWERED CORRECTLY, THE DESCRIPTIVE INFORMATION REFLECTS THE POSITION OF AGB, DESCRIPTION OF THE PROGRAMS ARE ACCURATE, AND THE RETURN IS COMPLETE. THE RETURN IS FINALIZED NO LATER THAN A WEEK BEFORE THE TAX DEADLINE, AND INCLUDES ANY CHANGES SUGGESTED BY THE AUDIT AND ERM COMMITTEE. DIRECTORS RECEIVE AN EXECUTIVE SUMMARY OF CHANGES (IF ANY) ELECTRONICALLY PRIOR TO FILING OF THE FINAL FORM 990. THE CHAIR OF THE AUDIT AND ERM COMMITTEE PROVIDES A REPORT ON THE REVIEW OF THE COMPLETED FORM 990 TO THE AGB BOARD AT ITS NEXT SCHEDULED MEETING. FORM 990, PART VI, SECTION B, LINE 12C STAFF: AGB REQUIRES THAT OFFICERS AND EMPLOYEES WILL PERFORM THEIR DUTIES CONSCIENTIOUSLY, HONESTLY, AND IN ACCORDANCE WITH THE BEST INTERESTS OF THE ASSOCIATION. AGB OFFICERS AND EMPLOYEES MUST NOT USE THEIR POSITION OR THE KNOWLEDGE GAINED AS A RESULT OF THEIR POSITION FOR PRIVATE OR PERSONAL ADVANTAGE. REGARDLESS OF THE CIRCUMSTANCES, IF OFFICERS OR EMPLOYEES SENSE THAT A COURSE OF ACTION THEY HAVE PURSUED, ARE CURRENTLY PURSUING, OR ARE CONTEMPLATING PURSUING MAY INVOLVE THEM IN A CONFLICT OF INTEREST WITH AGB, THEY SHOULD IMMEDIATELY COMMUNICATE ALL THE FACTS TO HIS OR HER SUPERVISOR. ALL STAFF MEMBERS WILL BE ASKED TO COMPLETE AND SIGN THEDISCLOSURE FORM ON AN ANNUAL BASIS. BOARD OF DIRECTORS: THE DIRECTOR HAVING SUCH CONFLICT SHALL NOT PARTICIPATE OR USE ANY PERSONAL INFLUENCE IN THE DISCUSSION OF THE SUBJECT OR MAKE ANY RECOMMENDATIONS REGARDING THE SUBJECT. HOWEVER, THE DIRECTOR WILL BRIEFLY STATE THE NATURE OF THE CONFLICT AND WILL BE EXPECTED TO ANSWER PERTINENT QUESTIONS FROM THE OTHER DIRECTORS WHEN THE DIRECTOR'S KNOWLEDGE OF THE SUBJECT WILL ASSIST THE BOARD. THE MINUTES OF ANY MEETING AT WHICH THE SUBJECT INVOLVING THE CONFLICT IS DISCUSSED SHALL REFLECT THAT A DISCLOSURE WAS MADE AND THAT THE CONFLICTED DIRECTOR REFRAINED FROM DISCUSSION, EXCEPT TO THE EXTENT PROVIDED ABOVE, AND DID NOT VOTE ON THE SUBJECT. THE SECRETARY ANNUALLY, AND AT OTHER TIMES ON REQUEST FROM ANY MEMBER OF THE BOARD, SHALL MAKE AVAILABLE TO THE MEMBERS OF THE BOARD COPIES OF THIS POLICY AND THE STATEMENT FOR DISCLOSING CONFLICTS. ANY BOARD MEMBER MAY REQUEST A DETERMINATION FROM THE BOARD AS TO THE EXISTENCE OF A CONFLICT OF INTEREST. THE BOARD'S DECISION, BY MAJORITY VOTE, SHALL BIND THE BOARD MEMBER AND THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 PROCESS TO DETERMINE COMPENSATION OF THE PRESIDENT: PRESIDENTIAL COMPENSATION IS DETERMINED WITH THE USE OF COMPARABILITY DATA RESEARCHED BY A MANAGEMENT/HR CONSULTING FIRM AND DISCUSSED BY AGB'S COMPENSATION COMMITTEE AND GENERAL COUNSEL. PROCESS TO DETERMINE COMPENSATION OF OFFICERS: COMPENSATION IS DETERMINED WITH THE USE OF COMPARABILITY DATA RESEARCHED BY A MANAGEMENT/HR CONSULTING FIRM. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2025. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS: OWN WEBSITE AND ALSO PROVIDED UPON REQUEST CONFLICT OF INTEREST POLICY: OWN WEBSITE AND ALSO PROVIDED UPON REQUEST FINANCIAL STATEMENTS: PROVIDED UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTANT FEES: PROGRAM SERVICE EXPENSES 2,336,432. MANAGEMENT AND GENERAL EXPENSES 336,867. FUNDRAISING EXPENSES 202,137. TOTAL EXPENSES 2,875,436. AGB SEARCH LLC 1666 K STREET NW SUITE 1200 WASHINGTON DC 20006 271963417 CONDUCT EXECUTIVE LEVEL SEARCHES FOR UNIVERSITIES/COLLEGES DC AGB C 9140778 2788248 1.00000 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 AGB SEARCH LLC A 144563 FMV AGB SEARCH LLC C 50000 FMV AGB SEARCH LLC Q 126100 FMV