2024-04-29T12:39:07-05:00 2023-06-30 946214841 ARMANINO LLP 6 CITYPLACE DRIVE SUITE 900 ST LOUIS MO 63141 990 2022-07-01 430962198 CONSORTIUM FOR GRADUATE STUDY IN MANAGEMENT CONS 6366815553 229 CHESTERFIELD BUSINESS PARKWAY CHESTERFIELD MO 63005 PETER J ARANDA III EXECUTIVE DIRECTOR & CEO 6366815553 2024-04-26 1 PETER ARANDA III 999009999 1 JENNIFER M VACHA P01251998 3149831200 2024-04-26 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z PETER J ARANDA III 229 CHESTERFIELD BUSINESS PARKWAY CHESTERFIELD MO 63005 59166869 0 X WWW.CGSM.ORG X 1971 MO ENHANCE DIVERSITY AND INCLUSION IN GLOBAL BUSINESS EDUCATION AND LEADERSHIP 32 31 23 56 0 0 1236383 820774 55890015 58246946 145963 99149 0 0 57272361 59166869 0 0 0 0 2083279 2173110 0 0 528898 54105332 57074785 56188611 59247895 1083750 -81026 9583885 9516411 2206307 2159347 7377578 7357064 X THE CONSORTIUM FOR GRADUATE STUDY IN MANAGEMENT IS A CONTINUALLY GROWING AND EVOLVING ALLIANCE OF SOME OF THE WORLD'S LEADING GRADUATE BUSINESS SCHOOLS AND BUSINESS ORGANIZATIONS, SUPPORTED BY THE STRENGTH OF OUR EXTENDED NETWORK OF STUDENTS AND ALUMNI.(SEE SCHEDULE O) THE MISSION, THROUGH THE STRENGTH OF OUR GROWING ALLIANCE AND EXTENDED NETWORK, IS TO ENHANCE DIVERSITY AND INCLUSION IN GLOBAL BUSINESS EDUCATION AND LEADERSHIP BY STRIVING TO REDUCE THE SIGNIFICANT UNDERREPRESENTATION OF AFRICAN AMERICANS, HISPANIC AMERICANS AND NATIVE AMERICANS IN BOTH OUR MEMBER SCHOOLS' ENROLLMENTS AND THE RANKS OF GLOBAL MANAGEMENT. WE BELIEVE THIS MISSION CAN BE ACHIEVED BY RECRUITING FOR GRADUATE BUSINESS EDUCATION QUALIFIED U.S. CITIZENS AND U.S. PERMANENT RESIDENTS WHO DEMONSTRATE A COMMITMENT TO THE CONSORTIUM'S MISSION AND WHO CAN BEST ASSIST THE CONSORTIUM IN PURSUING THIS MISSION. 0 0 57798816 58246946 SINCE ITS INCEPTION IN 1966, THE CONSORTIUM FOR GRADUATE STUDY IN MANAGEMENT'S PRINCIPAL OBJECTIVE HAS BEEN TO ENCOURAGE UNDERREPRESENTED MINORITIES AND THOSE WHO SUPPORT OUR MISSION TO PURSUE MASTERS DEGREES IN BUSINESS ADMINISTRATION AT ONE OF OUR MEMBER SCHOOLS FULL TIME MBA PROGRAMS. TODAY WE HAVE 23 TOP-TIER UNIVERSITIES AND APPROXIMATELY 1100 STUDENTS ANNUALLY ARE ELIGIBLE FOR FULL FELLOWSHIPS OR OTHER GIFT AID. IN FISCAL YEAR 2023, THE 2023/2024 CLASSES WERE PROVIDED $55.1 MILLION OF SUPPORT. 57798816 1 1 0 0 0 0 0 0 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 12 0 1 23 1 0 0 0 0 0 0 0 0 0 0 0 0 X 32 31 0 0 1 0 0 0 0 1 0 0 0 1 1 1 1 0 0 1 1 0 X X GLENN WILEN VICE PRESIDENT FINANCE & ADMINISTRATION 6366815553 229 CHESTERFIELD BUSINESS PARKWAY CHESTERFIELD MO 63005 VALLABH SAMBAMURTHY BOARD CHAIRMAN 2.00 X X 0 0 0 BLAIR SANFORD BOARD VICE CHAIRMAN 4.00 X X 0 0 0 MICHELLE AITALA TRUSTEE 1.00 X 0 0 0 ELIDA BAUTISTA TRUSTEE 2.00 X 0 0 0 LINA BELL TRUSTEE 3.00 X 0 0 0 KAVITHA BINDRA TRUSTEE 2.00 X 0 0 0 COREY DORTCH TRUSTEE 2.00 X 0 0 0 RASHID FARRELL TRUSTEE 15.00 X 0 0 0 JEAN GEKLER TRUSTEE 1.00 X 0 0 0 JIM HOLMEN TRUSTEE 3.00 X 0 0 0 NORMAN JONES TRUSTEE 1.00 X 0 0 0 CHRISTIE JULIEN TRUSTEE 2.00 X 0 0 0 DOROTHY KITTNER TRUSTEE 3.00 X 0 0 0 ALEX LAWRENCE TRUSTEE 3.00 X 0 0 0 REBEKAH LEWIN TRUSTEE 3.00 X 0 0 0 PRASHANT MALAVIYA TRUSTEE 2.00 X 0 0 0 RODRIGO MALTA TRUSTEE 3.00 X 0 0 0 COLLEEN MCMULLEN TRUSTEE 2.00 X 0 0 0 AMY MITSON TRUSTEE 3.00 X 0 0 0 NOEMI MORILLO-VASQUEZ TRUSTEE 1.00 X 0 0 0 ELAINE PADILLA TRUSTEE 1.00 X 0 0 0 MICHAEL ROBINSON TRUSTEE 2.00 X 0 0 0 BRIAN RUGGIERO TRUSTEE 2.00 X 0 0 0 TAMMY SAMUELS TRUSTEE 2.00 X 0 0 0 NAOMI SANCHEZ TRUSTEE (THRU 01/23) 2.00 X 0 0 0 CYNTHIA SAUNDERS-CHEATHAM TRUSTEE 3.00 X 0 0 0 COURTNEY SCHROEDER TRUSTEE 3.00 X 0 0 0 APRIL TAYLOR TRUSTEE 2.00 X 0 0 0 WIL TORRES TRUSTEE 3.00 X 0 0 0 BRIAN WESLEY TRUSTEE 2.00 X 0 0 0 JAZMYN WILLIAMS TRUSTEE 1.00 X 0 0 0 DAVID WOOTEN TRUSTEE 2.00 X 0 0 0 PETER ARANDA EXECUTIVE DIRECTOR & CEO 37.50 X X 330381 0 69374 JANICE WELLS-WHITE VP OF PROGRAM ADMIN 37.50 X 173962 0 42903 KIMBERLY ALEXANDER VP OF DEVELOPMENT 37.50 X 177929 0 48129 GLENN WILEN VP OF FINANCE & ADMIN 37.50 X 162769 0 42554 MAHENDRA GUPTA TREASURER 2.00 X 0 0 0 845041 0 202960 4 0 1 0 GAYLORD ROCKIES RESORT & CONVENTION CENT 6700 N GAYLORD ROCKIES BLVD AURORA CO 80019 LODGING, F&B, AUDIO VISUALS 726464 ACENDAS TRAVEL 6300 GLENWOOD ST BUILDING 10 SUIT OVERLAND PARK KS 66202 ORIENTATION PROGRAM TRAVEL 181166 3 820774 820774 TUITION REMISSIONS 611710 55128683 55128683 NEW SCHOOLS/CORP PA 611710 2072500 2072500 ORIENTATION PROGRAM RE 611710 829250 829250 APPLICATION FEES 611710 216513 216513 58246946 99149 99149 59166869 58246946 0 99149 1098626 515536 351632 231458 786276 508480 123022 154774 51756 24788 16798 10170 135976 73662 36304 26010 100476 54415 25660 20401 18632 18632 29926 29926 432466 388614 43852 238924 158787 80137 271249 146351 70289 54609 21187 21187 58196 31517 14862 11817 731121 672173 48216 10732 16550 16550 43965 23810 11228 8927 9336 9336 TUITION/FEES/STIPENDS 55200683 55200683 0 0 BAD DEBT 2550 2550 59247895 57798816 920181 528898 X 4686254 4828686 12309 53609 1319256 794175 166758 131005 2205581 1047825 1171854 1157756 2227454 2551180 9583885 9516411 1682962 1602524 525 86639 522820 470184 2206307 2159347 X 5739721 5524421 1637857 1832643 7377578 7357064 9583885 9516411 X -81026 67012 -6500 X 0 1 X 1 0 X 1223669 820414 1247745 1236383 820774 5348985 1223669 820414 1247745 1236383 820774 5348985 816382 4532603 85467 64266 71031 145963 99149 465876 13269 7785 465 21519 5836380 252001922 0.77660 0.75780 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER - 2018 AMOUNT: $ 13,269. 2019 AMOUNT: $ 7,785. 2020 AMOUNT: $ 465. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1637857 100625 166161 72000 1832643 1846814 101775 -200232 110500 1637857 1430086 105130 356598 45000 1846814 1351794 68041 63251 53000 1430086 1247212 90261 63321 49000 1351794 0.00000 1.00000 0.00000 0 0 223896 223896 1215859 308839 907020 765826 738986 26840 1157756 X 59252513 67012 18632 85644 59166869 0 59166869 59273027 18632 6500 25132 59247895 0 59247895 PART V, LINE 4: INCOME GENERATED BY THE ENDOWMENT FUND IS USED FOR STIPENDS TO CONSORTIUM STUDENTS. PART X, LINE 2: THE CONSORTIUM CONSTITUTES A QUALIFIED NOT-FOR-PROFIT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS, THEREFORE, EXEMPT FROM FEDERAL INCOME TAXES. THE CONSORTIUM HAS ADDRESSED THE PROVISIONS OF FASB ASC 740, ACCOUNTING FOR INCOME TAXES. IN THAT REGARD, THE CONSORTIUM HAS EVALUATED ITS TAX POSITIONS, EXPIRING STATUTES OF LIMITATIONS, AUDITS, PROPOSED SETTLEMENTS, CHANGES IN TAX LAW AND NEW AUTHORITATIVE RULINGS AND BELIEVES THAT NO PROVISION FOR INCOME TAXES IS NECESSARY, AT THIS TIME, TO COVER ANY UNCERTAIN TAX POSITIONS. PART XII, LINE 2D - OTHER ADJUSTMENTS: BAD DEBT FROM UNCOLLECTIBLE CONTRIBUTION PLEDGES 6,500. X X 0 1 X X X 0 0 0 0 0 0 0 0 0 PETER ARANDA EXECUTIVE DIRECTOR & CEO 330381 0 0 0 0 0 51175 0 18199 0 399755 0 0 0 KIMBERLY ALEXANDER VP OF DEVELOPMENT 173929 0 4000 0 0 0 35087 0 13042 0 226058 0 0 0 JANICE WELLS-WHITE VP OF PROGRAM ADMIN 169962 0 4000 0 0 0 34622 0 8281 0 216865 0 0 0 GLENN WILEN VP OF FINANCE & ADMIN 158769 0 4000 0 0 0 33162 0 9392 0 205323 0 0 0 PART I, LINE 1A THE ORGANIZATION'S CEO TRAVELED FIRST CLASS ON OCCASION AND THE CONSORTIUM MAINTAINED A MEMBERSHIP IN HIS NAME AT A SOCIAL CLUB, WHICH WAS AVAILABLE FOR BUSINESS AND PERSONAL USE. ANY PERSONAL USE IS NOT ELIGIBLE FOR REIMBURSEMENT. PART I, LINE 1B OVERALL, THE COMPENSATION POLICY IS REVIEWED PERIODICALLY BY THE COMPENSATION COMMITTEE AND INCLUDES ASSESSMENTS OF COMPENSATION AT PEER GROUP ORGANIZATIONS AND THE NEED TO ATTRACT AND RETAIN PERSONNEL THAT WILL ENABLE THE CONSORTIUM TO ATTAIN THE STRATEGIC OBJECTIVES SET FORTH BY THE BOARD OF TRUSTEES. JORDAN LEMUS-ARANDA CHILD OF EXECUTIVE DIRECTOR & CEO PETER ARANDA 39983 TUITION ASSISTANCE DEPENDENT TUITION EMPLOYEE BENEFIT FORM 990, PART VI, SECTION A, LINE 4 IN JUNE 2023, THE ORGANIZATION MADE THE FOLLOWING AMENDMENTS TO THEIR BYLAWS, EFFECTIVE JULY 2023: 1. CHANGE TO THE TOTAL NUMBER OF MEMBER SCHOOL TRUSTEES ALLOWED TO SERVE AS VOTING MEMBERS OF THE BOARD OF TRUSTEES 2. CHANGE TO THE MANNER IN WHICH THE CHAIR OF THE BOARD AND CHAIR-ELECT WILL BE VOTED UPON AND ELECTED TO THE BOARD OF TRUSTEES 3. CHAIR-ELECT REPLACES THE POSITION OF VICE CHAIR AND TAKES ON DUTIES OF VICE CHAIR 4. REMOVAL OF THE "PERFORMANCE AND SALARY REVIEW COMMITTEE" IN CHARGE OF DETERMINING OFFICER SALARY FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION DOES NOT HAVE ANY COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF TRUSTEES IS RESPONSIBLE FOR REVIEWING THE DRAFT 990. ANY QUESTIONS OR CONCERNS ARE ADDRESSED AND INCORPORATED INTO THE 990 PRIOR TO ITS SUBMISSION TO IRS. FORM 990, PART VI, SECTION B, LINE 12C THE CONSORTIUM ADHERES TO A WRITTEN POLICY THAT PROHIBITS ACTUAL OR POTENTIAL CONFLICTS OF INTEREST. ALL TRUSTEES, OFFICERS, COMMITTEE MEMBERS AND STAFF ARE TO COMPLETE A CONFLICT OF INTEREST DISCLOSURE STATEMENT ANNUALLY. IF A STAFF MEMBER IS UNCERTAIN WHETHER OR NOT A CONFLICT OF INTEREST EXISTS, HE OR SHE MAY ASK THE EXECUTIVE DIRECTOR & CEO TO MAKE A DETERMINATION. IF THE STAFF MEMBER DISAGREES WITH THE DETERMINATION, HE OR SHE MAY APPEAL THE DECISION TO THE BOARD, WHO WILL THEN RESOLVE THE QUESTION BY MAJORITY VOTE. IF A TRUSTEE OR OFFICER IS UNCERTAIN WHETHER OR NOT A CONFLICT OF INTEREST EXISTS, HE OR SHE MAY ASK THE BOARD TO MAKE A DETERMINATION. THE BOARD SHALL RESOLVE THE QUESTION BY MAJORITY VOTE. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION OF THE EXECUTIVE DIRECTOR & CEO AND VICE PRESIDENTS INCLUDES A REVIEW AND APPROVAL BY AN EXECUTIVE COMMITTEE OF THE BOARD (COMPENSATION COMMITTEE), COMPARABILITY DATA, CONSORTIUM'S PERFORMANCE, THE ECONOMY, AND INFLATION. ONGOING SALARY ADJUSTMENTS ARE ARRIVED AT BY ESTABLISHING AN OVERALL INCREASE POOL BASED ON MULTIPLE FACTORS. THE OVERALL POOL IS APPROVED BY THE BOARD OF TRUSTEES AND ALLOCATED BASED ON THE ANNUAL PERFORMANCE REVIEW PROCESS. THE SALARY RANGES FOR VICE PRESIDENTS IS REVIEWED AND APPROVED BY THE EXECUTIVE COMMITTEE (A SUBSET OF THE BOARD OF TRUSTEES) AND APPROVED BY THE BOARD OF TRUSTEES, A PROCESS THAT INCLUDED BENCHMARKING SALARIES AT THEIR OWN INSTITUTIONS. THE SALARY RANGES WERE DESIGNED TO ATTRACT THE CALIBER OF TALENT THE EXECUTIVE COMMITTEE DEEMED NECESSARY FOR CONSORTIUM TO ACCOMPLISH ITS STRATEGIC OBJECTIVES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S FINANCIAL STATEMENTS ARE INCLUDED IN THE ANNUAL REPORT AND THE COMPLETE AUDITOR'S REPORT IS POSTED ON THE ORGANIZATION'S WEBSITE. THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: BAD DEBT FROM UNCOLLECTIBLE CONTRIBUTION PLEDGES -6,500.