2026-05-08T11:45:57-05:00 2025-06-30 991856619 GRANT THORNTON ADVISORS LLC 53 STATE STREET SUITE 1600 BOSTON MA 02109 990 2024-07-01 042306054 THE AMERICAN COLLEGE OF GREECE AMER 8572847908 101 ARCH ST 8TH FLOOR BOSTON MA 02110 KELLY A MORRA CFO, SVP FINANCE & U.S. OPS. 8572847908 2026-05-08 1 0 ERIN COUTURE P01390592 6177237900 2024 2025-03-06 01:10:19Z DR EDWARD C WINGENBACH 101 ARCH ST 8TH FLOOR BOSTON MA 02110 129747866 0 X WWW.ACG.EDU X 1961 CO THE AMERICAN COLLEGE OF GREECE IS AN INDEPENDENT, NOT FOR PROFIT, (CONTINUED ON SCHEDULE O) 18 18 0 19 0 0 2315941 1559254 78184909 86767913 370154 559181 788780 722574 81659784 89608922 11963991 12612109 0 0 41117635 47250897 0 0 390200 30513222 34440304 83594848 94303310 -1935064 -4694388 109354268 116224555 50883938 58083845 58470330 58140710 TO ADD DISTINCTIVE AND SUSTAINABLE VALUE TO OUR STUDENTS AS WELL AS GREECE, AMERICAN EDUCATION, HELLENIC HERITAGE, AND THE GLOBAL COMMUNITY THROUGH TRANSFORMATIVE TEACHING, SCHOLARSHIP, AND SERVICE. 0 0 70299205 12612109 86767913 IN THE FISCAL YEAR ENDING 6/30/25, 5,792 STUDENTS ATTENDED THE UNDERGRADUATE PROGRAM AND 380 GRADUATED WITH DIPLOMAS. THE GRADUATE SCHOOL AT DEREE HAD 503 STUDENTS ENROLLED OF WHOM 171 GRADUATED WITH ADVANCED DEGREES AND THE ALBA GRADUATE BUSINESS SCHOOL HAD 614 STUDENTS ENROLLED OF WHOM 262 GRADUATED WITH ADVANCED DEGREES. THE HIGH SCHOOL (GRADES 7 TO 12) HAD 1,625 STUDENTS OF WHOM 286 GRADUATED. THE ELEMENTARY SCHOOL (GRADES PRE-K TO 6), HAD 830 STUDENTS. THE AMERICAN COLLEGE OF GREECE (ACG) ALSO OFFERED WELL-ATTENDED CONTINUING EDUCATION AND CULTURAL EVENTS FOR THE COMMUNITY IN WHICH IT OPERATES. 70299205 1 1 0 0 0 0 0 1 0 1 1 0 0 0 1 1 0 1 1 1 1 1 1 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 X 59 0 1 0 0 1 GR UK 0 0 0 0 0 0 0 0 0 0 X 18 18 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X X KELLY MORRA 8572847908 101 ARCH ST 8TH FLOOR BOSTON MA 02110 DR DANIEL SMITH CHAIR 2.00 2.00 X X 0 0 0 JOHN CHACHAS VICE CHAIR 2.00 2.00 X X 0 0 0 NIKOS KOUMETTIS VICE CHAIR 2.00 3.00 X X 0 0 0 ANGELO MANIOUDAKIS VICE CHAIR 2.00 2.00 X X 0 0 0 DEBORAH WINCE-SMITH VICE CHAIR 2.00 2.00 X X 0 0 0 ALEX ALDOUS SECRETARY 2.00 2.00 X X 0 0 0 MICHAEL BAPIS TRUSTEE 2.00 2.00 X 0 0 0 GEORGE CASEY TRUSTEE 2.00 2.00 X 0 0 0 GREG CHASE TRUSTEE 2.00 2.00 X 0 0 0 ANTONY CONTOMICHALOS TRUSTEE 2.00 2.00 X 0 0 0 ALMA DE METROPOLIS TRUSTEE 2.00 2.00 X 0 0 0 DR SUSAN FUHRMAN TRUSTEE 2.00 2.00 X 0 0 0 DR DENA HARITOS TSAMITIS TRUSTEE 2.00 2.00 X 0 0 0 DR MARTHA J KANTER TRUSTEE (THRU 11/2024) 2.00 2.00 X 0 0 0 HARIKLIA KARIS TRUSTEE 2.00 2.00 X 0 0 0 PARIS KARASSO TRUSTEE 2.00 2.00 X 0 0 0 DR HELENA MITCHELL TRUSTEE 2.00 2.00 X 0 0 0 MILTON SIPP TRUSTEE (AS OF 11/2024) 2.00 2.00 X 0 0 0 LENA TRIANTOGIANNIS TRUSTEE 2.00 3.00 X 0 0 0 DR DAVID G HORNER PRESIDENT 35.00 16.00 X 266059 252165 117072 KELLY A MORRA CFO, SVP FINANCE & U.S. OPERATIONS 28.00 12.00 X 0 251825 60566 NIKOLAOS MYLONOPOULOS PROF DIG BUS, DIR SEV CTR EXCELLENCE 40.00 0.00 X 133789 0 39279 PANAGIOTIS VLACHOPOULOS VICE PRESIDENT ACADEMIC AFFAIRS 40.00 0.00 X 158096 0 38557 STEFANOS ZARKOS ASSC DEAN ACAD PROG & ASSC PROF FIN 40.00 0.00 X 136569 0 41274 KONSTANTINOS AXARLOGLOU PROFESSOR OF INTL. BUSN. & STRATEGY 40.00 0.00 X 135833 0 46075 ILIANA LAZANA SENIOR VP OF ADMIN & PIERCE 40.00 0.00 X 134434 0 69819 964780 503990 412642 10 0 1 0 MAROULIS TRAVEL 24 STRATIGOU LEKKA ST ATHENS GR 15122 TRAVEL AGENCY 1923391 SIMOU E MON EPE 24-26 GRAMMOU ST ATHENS GR 15235 TRAVEL AGENCY 1410420 UNISON FACILITY SERVICES SA 194 SYGROU AVENUE ATHENS GR 17671 CLEANING SERVICES 970928 THE OPEN UNIV PO BOX 77 WALTON HALL MILTON KEYNES UK MK7 6BT COLLEGE VALIDATION SVCS 766002 D KAPSALIS AE 132 G PAPANDREOU ST ATHENS GR 14452 CATERING SERVICES 681888 36 172534 1386720 71799 1559254 TUITION & FEES 611710 86767913 86767913 86767913 553092 553092 203298 0 203298 203298 203298 40136711 8322 40138944 0 -2233 8322 6089 6089 SNACKBAR & CAFE INCOME 900099 412725 412725 REVENUE FROM EVENTS 900099 18986 18986 REFUND FROM INSURANCE 900099 10828 10828 76737 76737 519276 89608922 86767913 0 1281755 12612109 12612109 278452 278452 36310625 29252831 6779473 278321 3088930 2482849 582458 23623 7572890 6045013 1467394 60483 538161 73220 463674 1267 43233 43233 3520591 848877 2666433 5281 3142861 908520 2231114 3227 1753429 549931 1202227 1271 1459718 470308 989162 248 5526815 5091855 434960 1643911 1258328 385583 6354026 5853964 500062 786658 76720 709938 STUDENT TRANSPORT 3550132 3550132 PUBLICATIONS 2167145 544481 1610409 12255 BAD DEBT EXPENSE 344431 344431 STAFF PENSION INDEMNITY 143211 143211 3465982 680067 2781691 4224 94303310 70299205 23613905 390200 143463 129391 30741116 30940842 6725092 6677819 2358 1686168 2131955 160795387 86273292 68924160 74522095 467803 492428 666466 1327667 109354268 116224555 7632668 10287035 7347759 7859640 27600799 29747587 8302712 10189583 50883938 58083845 X 40333702 39990910 18136628 18149800 58470330 58140710 109354268 116224555 X -4694388 447765 3917003 X 0 1 X 1 0 X 3061740 2406328 2101983 2315941 1559254 11445246 3061740 2406328 2101983 2315941 1559254 11445246 2331307 9113939 91556 200767 237801 549653 756390 1836167 189028 18625 454421 592584 519276 1773934 15055347 344192920 0.60540 0.61180 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: REFUND FROM INSURANCE - 2020 AMOUNT: $ 40,187. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 4,510. 2023 AMOUNT: $ 3,245. 2024 AMOUNT: $ 10,828. LOST STUDENT ID CARD FFES - 2020 AMOUNT: $ 419. 2021 AMOUNT: $ 2,325. 2022 AMOUNT: $ 0. 2023 AMOUNT: $ 0. 2024 AMOUNT: $ 0. OTHER INCOME - 2020 AMOUNT: $ 48,514. 2021 AMOUNT: $ 13,886. 2022 AMOUNT: $ 45,506. 2023 AMOUNT: $ 54,181. 2024 AMOUNT: $ 76,737. REVENUE FROM EVENTS - 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 37,580. 2023 AMOUNT: $ 76,253. 2024 AMOUNT: $ 18,986. RETIREMENT INDEMNITIES - 2020 AMOUNT: $ 99,908. 2021 AMOUNT: $ 2,414. 2022 AMOUNT: $ 0. 2023 AMOUNT: $ 0. 2024 AMOUNT: $ 0. SNACKBAR AND CAFETERIA INCOME - 2020 AMOUNT: $ 0. 2021 AMOUNT: $ 0. 2022 AMOUNT: $ 366,825. 2023 AMOUNT: $ 458,905. 2024 AMOUNT: $ 412,725. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 39963675 317254 1755509 3372624 15420 38648394 32126596 31028 975799 -6920412 90160 39963675 30784005 98494 841645 -469052 66600 32126596 31918642 683412 -1517086 300963 30784005 28394697 582809 3204186 263050 31918642 0.60644 0.25826 0.13530 0 1 1 12997500 12997500 117533605 63443206 54090399 29142534 22830086 6312448 1121748 1121748 74522095 EMPLOYEE RETIREMENT & SEVERANCE 5190781 DUE TO RELATED PARTIES 2042843 OTHER LIABILITIES 1618449 OPERATING LEASE LIABILITY 1337510 10189583 X PART III, LINE 1A: COLLECTIONS OF ART EXCLUDED FROM FINANCIAL STATEMENTS THE COLLEGE HAS RECEIVED OVER THE YEARS DONATED WORKS OF ART FROM VARIOUS ARTISTS AS WELL AS BENEFACTORS. THE DONATIONS HAVE BEEN EXCLUDED FROM THE FINANCIAL STATEMENTS AS PER ASC 958. PART III, LINE 4: COLLECTIONS OF ART FURTHERANCE OF EXEMPT PURPOSE THE ARTWORK HELD BY THE COLLEGE IS COMPRISED OF MULTIPLE MEDIA SUCH AS PAINTINGS, DRAWINGS, ARTIFACTS, COINS, PHOTOGRAPHS, AND SCULPTURES. WHILE THE COLLECTION IS PARTICULARLY STRONG IN ART WORKS ORIGINATING FROM GREECE, CONSISTENT WITH THE COLLEGE'S MISSION OF SUPPORTING ITS GLOBAL COMMUNITY, WORKS FROM OTHER COUNTRIES (INCLUDING THE U.S.) ARE WELL REPRESENTED. THE COLLECTION IS A SIGN OF THE COLLEGE'S COMMITMENT TO THE STUDY AND PROMOTION OF THE VISUAL ARTS. WORKS ARE ON DISPLAY ON A ROTATING BASIS AT THE ART GALLERY ON CAMPUS, AND SCULPTURES AND OTHER WORKS ARE ON DISPLAY THROUGHOUT THE CAMPUS. THE ACG ART COLLECTION IS ACCESSIBLE TO BOTH SCHOLARLY RESEARCHERS AND THE PUBLIC AT LARGE. PART V, LINE 4: INTENDED USES OF ENDOWMENT FUNDS THE ENDOWMENT FUNDS ARE HELD FOR SCHOLARSHIPS TO DESERVING STUDENTS. THE COLLEGE MATCHES MOST SCHOLARSHIPS IN THE ENDOWMENT FUNDS BY GIVING ADDITIONAL AMOUNTS TO WORTHY STUDENTS. PART X, LINE 2: ASC 740 FOOTNOTE THE AMERICAN COLLEGE OF GREECE AND THE AMERICAN UNIVERSITY OF GREECE FOUNDATION ARE COLORADO NOT-FOR-PROFIT CORPORATIONS, AND THE AMERICAN UNIVERSITY OF GREECE, INC. IS A MASSACHUSETTS NOT-FOR-PROFIT CORPORATION AS DESCRIBED IN SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, AS AMENDED (THE "CODE"), AND ARE GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE AMERICAN COLLEGE OF GREECE RESEARCH CENTER IS A GREEK NOT-FOR-PROFIT ASSOCIATION AS DESCRIBED IN SECTION 501(C)(3) OF THE CODE, AND IS GENERALLY EXEMPT FROM INCOME TAXES PURSUANT TO SECTION 501(A) OF THE CODE. THE COLLEGE IS REQUIRED TO ASSESS UNCERTAIN INCOME TAX POSITIONS AND HAS DETERMINED THAT THERE WERE NO SUCH POSITIONS THAT ARE MATERIAL TO THE FINANCIAL STATEMENTS. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE FORMALLY ADOPTED RACIALLY NONDISCRIMINATORY POLICY IS PROVIDED TO STUDENTS AND THE GENERAL PUBLIC IN THE COLLEGE'S MAILINGS, BROCHURES, AND OTHER PUBLICATIONS, AS WELL AS BEING PROVIDED TO EMPLOYEES. A SUMMARY OF THE POLICY IS ALSO AVAILABLE ON THE COLLEGE'S WEBSITE. SCHEDULE E, PART I, LINE 6 DURING THE FISCAL YEAR ENDED 6/30/2025, GRANT FUNDING IN THE AMOUNT OF $172,534 WAS AWARDED BY THE US AGENCY FOR INTERNATIONAL DEVELOPMENT ("US AID") IN SUPPORT OF THE RENOVATION AND EXPANSION OF THE STEM, HEALTH SCIENCES AND PUBLIC HEALTH BUILDING SPACE, RENOVATION OF THE LIBRARY, RENOVATION OF THE PHYSICS LAB, AND CREATION OF THE MULTI-DISCIPLINARY STEM LAB. THERE WAS ALSO A SMALL REMAINING PORTION TO COMPLETE THE CREATION OF THE SIMULATED TRADING ROOM. 1 EUROPE (INCLUDING ICELAND & GREENLAND) 1 1261 PROGRAM SERVICES EDUCATION 57687096 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTMAKING 12612109 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 MAINTAINING OFFICES 23613905 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 FUNDRAISING 390200 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 271688 1 1261 0 0 1 1261 94574998 0 94574998 EUROPE (INCLUDING ICELAND & GREENLAND) EDUCATION 59836 WIRE 0 1 0 SCHOLARSHIPS EUROPE (INCLUDING ICELAND & GREENLAND) 3935 12552273 CREDIT 0 0 0 0 0 0 PART I, LINE 2: MONITORING USE OF GRANTS OUTSIDE THE U.S. THE COLLEGE OFFERS SCHOLARSHIPS TO ITS STUDENTS IN ATHENS, GREECE, BASED ON ACADEMIC PERFORMANCE AS WELL AS FINANCIAL NEED. THE SCHOLARSHIPS ARE DIRECTLY CREDITED TO THE RECIPIENT STUDENT'S ACCOUNT. THE STUDENT ACCOUNTS DEPARTMENT MONITORS THE SCHOLARSHIP FUNDS. THE SCHOLARSHIPS MAY BE REVOKED IF STUDENTS DO NOT ACHIEVE MINIMUM STANDARDS. STUDENT GRADES ARE MONITORED ON A SEMESTER BASIS BY THE SCHOLARSHIP COMMITTEE. PART I, LINE 3: THE ACCOUNTING METHOD FOR THE AMOUNTS REPORTED ON PART I, LINE 3, COLUMN F ARE REPORTED PER THE ORGANIZATION'S GENERAL LEDGER REPORTING. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 DR DAVID G HORNER PRESIDENT 263582 167500 0 50000 2477 34665 40244 64125 8893 3810 315196 320100 0 0 KELLY A MORRA CFO, SVP FINANCE & U.S. OPERATIONS 0 251661 0 0 0 164 0 38760 0 21806 0 312391 0 0 ILIANA LAZANA SENIOR VP OF ADMIN & PIERCE 126279 0 0 0 8155 0 69819 0 0 0 204253 0 0 0 PANAGIOTIS VLACHOPOULOS VICE PRESIDENT ACADEMIC AFFAIRS 131471 0 0 0 26625 0 38557 0 0 0 196653 0 0 0 KONSTANTINOS AXARLOGLOU PROFESSOR OF INTL. BUSN. & STRATEGY 127073 0 0 0 8760 0 46075 0 0 0 181908 0 0 0 STEFANOS ZARKOS ASSC DEAN ACAD PROG & ASSC PROF FIN 129488 0 0 0 7081 0 41274 0 0 0 177843 0 0 0 NIKOLAOS MYLONOPOULOS PROF DIG BUS, DIR SEV CTR EXCELLENCE 128341 0 0 0 5448 0 39279 0 0 0 173068 0 0 0 PART I, LINE 1A HOUSING ALLOWANCE: THE PRESIDENT IS PROVIDED HOUSING IN CONNECTION WITH THE GREECE CAMPUS. THE VALUE ASSOCIATED WITH SUCH HOUSING IS INCLUDED IN COLUMN (D). ONE HIGHEST COMPENSATED EMPLOYEE RECEIVED A HOUSING ALLOWANCE THAT IS INCLUDED IN TAXABLE COMPENSATION. SOCIAL DUES: THE AMERICAN COLLEGE OF GREECE PAYS MEMBERSHIP DUES TO THE PROPELLOR CLUB IN GREECE. THE RELATED ORGANIZATION, THE AMERICAN UNIVERSITY OF GREECE FOUNDATION PROVIDES THE PRESIDENT WITH A MEMBERSHIP TO THE HARVARD CLUB. THE MEMBERSHIPS ARE CONSIDERED TAXABLE COMPENSATION TO THE PRESIDENT AND ARE REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III). PERSONAL SERVICES: THE RELATED ORGANIZATION, THE AMERICAN UNIVERSITY OF GREECE FOUNDATION PROVIDES THE PRESIDENT WITH FINANCIAL PLANNING-RELATED SERVICES. THE SERVICES ARE CONSIDERED TAXABLE COMPENSATION TO THE PRESIDENT AND ARE REPORTED ON SCHEDULE J, PART II, COLUMN (B)(III). PART I, LINE 3 COMPENSATION OF THE PRESIDENT THE EXECUTIVE COMMITTEE OF THE BOARD UNDERTAKES AN ANNUAL REVIEW OF THE PRESIDENT'S PERFORMANCE. ONCE REVIEWED BY THE EXECUTIVE COMMITTEE, AND IN ACTION TO THE FULL BOARD. ADDITIONALLY, THE PRESIDENT REPORTS TO THE FULL UPDATE ON ALL STRATEGIC INITIATIVES AND ACADEMIC, FINANCIAL AND OTHER THE ABSENCE OF THE PRESIDENT, THE COMMITTEE MAKES RECOMMENDATIONS FOR BOARD IN A FORMAL WRITTEN PRESIDENT'S REPORT THREE TIMES EACH YEAR WITH AN MATTERS OF IMPORTANCE. IN CERTAIN YEARS IN WHICH THERE ARE CHANGES TO THE PRESIDENT'S COMPENSATION OR A NEW EMPLOYMENT CONTRACT IS SIGNED, THE EXECUTIVE COMMITTEE'S REVIEW IS SUPPORTED BY A COMPENSATION REVIEW PERFORMED BY AN INDEPENDENT FIRM SPECIALIZING IN THE FIELD OF COMPENSATION, AS WELL AS COMPARABLE COMPENSATION AT OTHER COLLEGES IN THE U.S. AND ABROAD. THE REVIEW OF THE EXECUTIVE COMMITTEE IS DOCUMENTED IN THE BOARD MINUTES. COMPENSATION IS VOTED ON AND APPROVED BY THE BOARD. THE PRESIDENT IS RESPONSIBLE FOR THE REVIEW OF COMPENSATION FOR THE CFO, THE CHIEF ACADEMIC ADVISOR, AND ALL OF HIS DIRECT REPORTS. THE REVIEW IS BASED ON PERFORMANCE AND A COMPARATIVE ANALYSIS OF COMPENSATION PAID AT OTHER COLLEGES IN THE U.S. AND ABROAD. DAVID HORNER OFFICER PERSONAL LOAN X 2358 2358 0 0 0 2358 X 4 71799 FMV 0 0 1 1 PART I, COLUMN (B): THE AMERICAN COLLEGE OF GREECE IS REPORTING THE NUMBER OF CONTRIBUTORS IN PART I, COLUMN (B). FORM 990, PART I, LINE 1 NONSECTARIAN, CO-EDUCATIONAL ACADEMIC INSTITUTION. FORM 990, PART V, LINE 2A: NUMBER OF EMPLOYEES REPORTED ON FORM W-3 THIS AMOUNT DOES NOT INCLUDE 1,254 INDIVIDUALS EMPLOYED IN GREECE, WHO DID NOT RECEIVE U.S. W-2'S. FORM 990, PART VI, SECTION A, LINE 7A POWER TO ELECT OR APPOINT MEMBERS: THE BOARD OF DIRECTORS OF THE COLLEGE ARE APPOINTED BY THE AMERICAN UNIVERSITY OF GREECE, INC. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE FORM 990 IS PREPARED BY THE COLLEGE'S INDEPENDENT TAX ADVISORS WITH INFORMATION PROVIDED BY MANAGEMENT. INITIAL REVIEW OF THE COMPLETED FORM IS PERFORMED BY THE CFO AND AUDIT COMMITTEE. AFTER COMPLETE REVIEW BY THE AUDIT COMMITTEE AND PRIOR TO FILING THE FORM, A COPY OF THE FORM AS IT IS ULTIMATELY FILED IS PROVIDED TO ALL BOARD MEMBERS. FORM 990, PART VI, SECTION B, LINE 12C PERSONS COVERED UNDER THE POLICY: POLICY APPLIES TO THE BOARD OF TRUSTEES, THE PRESIDENT, CFO, THE CHIEF ACADEMIC ADVISOR, AND ALL MEMBERS OF THE PRESIDENT'S CABINET, INCLUDING THE EMPLOYEES LISTED ON THE FORM 990. PRACTICES FOR MONITORING PROPOSED OR ONGOING TRANSACTIONS FOR CONFLICT OF INTEREST: EACH INDIVIDUAL COVERED UNDER THIS POLICY SIGNS AN ANNUAL STATEMENT THAT THEY ADHERE TO THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND THAT THEY DISCLOSE ANY POTENTIAL CONFLICTS. LEVEL AT WHICH CONFLICTS ARE REVIEWED: THE ANNUAL STATEMENTS ARE REVIEWED BY THE ORGANIZATION'S CFO AND DISCUSSED WITH THE AUDIT COMMITTEE WHEN A CONFLICT ARISES. THE PRESIDENT'S OFFICE MONITORS ALL CONTRACTS AND ACTIONS OF ALL EMPLOYEES ON A REGULAR BASIS. LEVEL AT WHICH DETERMINATION AS TO WHETHER A CONFLICT EXISTS ARE MADE: THE AUDIT COMMITTEE MAKES THE FINAL DETERMINATION OF WHETHER A CONFLICT EXISTS. RESTRICTIONS IMPOSED ON PERSONS WITH A CONFLICT: INTERESTED PERSONS ARE RECUSED FROM DISCUSSIONS AND VOTING ON ANY TOPIC THAT MAY CONSTITUTE A CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE COMMITTEE OF THE BOARD UNDERTAKES AN ANNUAL REVIEW OF THE PRESIDENT'S PERFORMANCE. ONCE REVIEWED BY THE EXECUTIVE COMMITTEE, AND IN THE ABSENCE OF THE PRESIDENT, THE COMMITTEE MAKES RECOMMENDATIONS FOR ACTION TO THE FULL BOARD. ADDITIONALLY, THE PRESIDENT REPORTS TO THE FULL BOARD IN A FORMAL WRITTEN PRESIDENT'S REPORT THREE TIMES EACH YEAR WITH AN UPDATE ON ALL STRATEGIC INITIATIVES AND ACADEMIC, FINANCIAL AND OTHER THE AMERICAN COLLEGE OF GREECE MATTERS OF IMPORTANCE. IN CERTAIN YEARS IN WHICH THERE ARE CHANGES TO THE PRESIDENT'S COMPENSATION OR A NEW EMPLOYMENT CONTRACT IS SIGNED, THE EXECUTIVE COMMITTEE'S REVIEW IS SUPPORTED BY A COMPENSATION REVIEW PERFORMED BY AN INDEPENDENT FIRM SPECIALIZING IN THE FIELD OF COMPENSATION, AS WELL AS COMPARABLE COMPENSATION AT OTHER COLLEGES IN THE U.S. AND ABROAD. THE REVIEW OF THE EXECUTIVE COMMITTEE IS DOCUMENTED IN THE BOARD MINUTES. COMPENSATION IS VOTED ON AND APPROVED BY THE BOARD. THE PRESIDENT IS RESPONSIBLE FOR THE REVIEW OF COMPENSATION FOR THE CFO, THE CHIEF ACADEMIC ADVISOR, AND ALL OF HIS DIRECT REPORTS. THE REVIEW IS BASED ON PERFORMANCE AND A COMPARATIVE ANALYSIS OF COMPENSATION PAID AT OTHER COLLEGES IN THE U.S. AND ABROAD. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS AVAILABLE TO PUBLIC THE GOVERNING DOCUMENTS, THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST AT THE AMERICAN UNIVERSITY OF GREECE FOUNDATION OFFICE. FORM 990, PART XI, LINE 9: INTERCOMPANY TRANSFER 1,200,000. UNREALIZED FOREIGN EXCHANGE GAIN TRANSLATION 3,224,755. UNREALIZED FOREIGN EXCHANGE GAIN (U.S.) 276,915. UNREALIZED FOREIGN EXCHANGE LOSS (GREECE) -784,667. THE AMERICAN UNIV OF GREECE FOUNDATION 101 ARCH ST 8TH FLOOR BOSTON MA 02110 841217703 SUPPORT CO 501(C)(3) LINE 12A, I ACG 1 THE AMERICAN COLLEGE OF GREECE RESEARCH CENTER 6 GRAVIAS ST 153 42 ATHENS AGHIA PARASKEVI GR 980611322 RESEARCH GR 501(C)(3) LINE 12A, I ACG 1 THE AMERICAN COLLEGE OF GREECE - GREECE 6 GRAVIAS ST 153 42 ATHENS AGHIA PARASKEVI GR COLLEGE GR DORMANT NFP ACG 1 AMERICAN UNIVERSITY OF GREECE INC 101 ARCH ST 8TH FLOOR BOSTON MA 02110 884357757 SUPPORT MA 501(C)(3) LINE 12B, II N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 THE AMERICAN UNIVERSITY OF GREECE FOUNDATION M 3863237 FMV THE AMERICAN UNIVERSITY OF GREECE FOUNDATION S 1200000 FMV