2024-04-12T11:10:38-05:00 2023-05-31 366055558 GRANT THORNTON LLP 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2022-06-01 464884633 UNIVERSITY STUDIES ABROAD CONSORTIUM UNIV 7757846569 1664 N VIRGINIA ST MS 0323 RENO NV 895570323 DAVID MUSTARD DIRECTOR OF FINANCE 7757846569 2024-04-11 1 DAVID MUSTARD 999009999 0 DANIEL V ROMANO P00504182 2125990100 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DR ALYSSA NOTA 1664 N VIRGINIA ST MS 0323 RENO NV 895570323 22336062 0 X USAC.EDU X 2014 NV TO ORGANIZE AND ADMINISTER STUDY ABROAD PROGRAMS FOR UNIVERSITY STUDENTS WHICH (SEE SCHEDULE O) ENCOURAGE AND FACILITATE THE ACQUISITION AND USE OF FOREIGN LANGUAGES AND ACADEMIC DISCIPLINES. 10 10 101 15 0 0 1832545 19479 11317221 21556373 223185 707654 538109 23219 13911060 22306725 222150 597395 0 0 7754718 9709041 0 0 62758 6776509 11004238 14753377 21310674 -842317 996051 37628350 40313514 7993984 9917376 29634366 30396138 X THE MISSION OF UNIVERSITIES STUDIES ABROAD CONSORTIUM ("USAC") IS TO PROVIDE STUDENTS WITH THE OPPORTUNITY TO DEVELOP THE KNOWLEDGE, SKILLS, AND ATTITUDES TO SUCCEED IN THE GLOBAL SOCIETY OF THE 21ST CENTURY. WE STRIVE TO PROVIDE AN AUTHENTIC, QUALITY CONTEXT IN WHICH STUDENTS MAY GROW INTO ENGAGED CITIZENS OF THE WORLD, NOT ONLY IN THE CLASSROOM BUT ALSO THROUGH FIELD TRIPS, INTEGRATED LIVING AND ACADEMIC EXPERIENCES, SPORTS, INTERNSHIPS, AND VOLUNTEER AND SERVICE LEARNING OPPORTUNITIES. 0 0 11991466 436494 14334140 USAC ADMINISTERED AND FACILITATED SPECIALTY PROGRAMS FOR OVER 859 U.S. UNIVERSITY STUDENTS AT 25 SITES IN 14 FOREIGN COUNTRIES. THE PROGRAMS RANGE IN LENGTH FROM 3 WEEKS TO A FULL ACADEMIC YEAR. USAC PROGRAMS DELIVER AFFORDABLE STUDY ABROAD OPPORTUNITIES WHILE FULFILLING THE GOAL OF PROVIDING OUR STUDENTS WITH THE OPPORTUNITY TO DEVELOP THE KNOWLEDGE, INTER-CULTURAL COMPETENCIES AND SKILLS TO SUCCEED IN THE 21ST CENTURY. USAC HAS SPECIALTY PROGRAMS LOCATED IN CHILE, CHINA, COSTA RICA, CUBA, CZECH REPUBLIC, ENGLAND, FRANCE, GERMANY, INDIA, IRELAND, ITALY, SPAIN, THAILAND, URUGUAY AND VIETNAM. 4850610 160901 7222233 USAC PARTNERED WITH OVER 25 FOREIGN UNIVERSITIES TO PROVIDE AN ACADEMIC EDUCATION AND INTERNATIONALIZATION FOR OVER 383 STUDENTS. STUDENTS PARTICIPATED IN PROGRAMS THAT RANGED IN LENGTH FROM 4 WEEKS TO A FULL ACADEMIC YEAR AT UNIVERSITIES IN AUSTRALIA, ENGLAND, IRELAND, ISRAEL, JAPAN, SOUTH KOREA, NETHERLANDS, NEW ZEALAND, PORTUGAL, SCOTLAND, SOUTH AFRICA, SWEDEN AND THAILAND. 16842076 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 1 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 1 X 11 0 1 101 1 0 1 CI CH CS EZ FR GM IN EI IT SP TH UK UY 0 0 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 NV X X DAVID MUSTARD 7756825877 1664 N VIRGINIA ST MS 0323 RENO NV 895570323 ORLINA BOTEVA BOARD DIRECTOR 1.00 0.00 X 0 0 0 KATE WRAY CHETTRI BOARD DIRECTOR 1.00 0.00 X 0 0 0 CORRINE HENKE BOARD DIRECTOR 1.00 0.00 X 0 0 0 DOUG LEE BOARD DIRECTOR 1.00 0.00 X 0 0 0 COLLEEN MARCHWICK BOARD DIRECTOR 1.00 0.00 X 0 0 0 DAVE SHINTANI BOARD DIRECTOR 1.00 0.00 X 0 0 0 SAMMY SPANN BOARD DIRECTOR 1.00 0.00 X 0 0 0 GREG STEPHANY BOARD DIRECTOR 1.00 0.00 X 0 0 0 JOY WANDERI BOARD DIRECTOR 1.00 0.00 X 0 0 0 MEREDITH FANT WILSON BOARD DIRECTOR 1.00 0.00 X 0 0 0 DR ALYSSA NOTA PRESIDENT/CEO 40.00 0.00 X 151084 0 18899 DAVID MUSTARD TREASURER 40.00 0.00 X 96092 0 16982 SABRINA HARRIS SECRETARY 40.00 0.00 X 47780 0 3438 FRIEDRICH ROSKE DIRECTOR OF IT 40.00 0.00 X 113369 0 16997 408325 0 56316 2 0 1 0 EIDE BAILLY LLP PO BOX 2545 FARGO ND 581082545 ACCOUNTING AND IT SERVICES 131553 1 19479 19479 SPECIALTY PROGRAM 611710 14334140 14334140 PARTNERSHIP PROGRAM 611710 7222233 7222233 21556373 707654 707654 52556 29337 23219 23219 23219 22306725 21556373 0 730873 9752 9752 587643 587643 343112 291645 51467 7489176 5914895 1518830 55451 186484 146855 39011 618 1374267 1087307 281394 5566 316002 250321 64558 1123 8780 2414 6366 89827 89827 104069 28619 75450 48299 48299 242069 66569 175500 556522 556522 650574 366143 284431 274961 13748 261213 247627 172175 75452 59376 18650 40726 132465 41607 90858 15377 15377 250777 250777 571976 474814 97162 ABROAD SCHOOL FEES 3647826 3647826 ROOM & BOARD 1817629 1817629 TOURS & ACTIVITIES 873828 873828 AFFILIATE BENEFITS 528667 528667 883589 500969 382620 21310674 16842076 4405840 62758 15322988 17137772 1413476 1541893 1736576 1736733 861296 915545 6519117 1225575 5387776 5293542 12712207 12623568 192203 134111 1828 930350 37628350 40313514 3053645 3589777 4427728 4692255 512611 526887 0 1108457 7993984 9917376 X 29445960 30250175 188406 145963 29634366 30396138 37628350 40313514 X 996051 -285474 13212 37983 X 0 1 X 1 0 X 26366 21476 18497 1832545 19479 1918363 31298569 27678815 1090661 11317221 21556373 92941639 145171 148804 149339 149161 188798 781273 31470106 27849095 1258497 13298927 21764650 95641275 0 0 0 95641275 97527 377186 246816 282005 760210 1763744 97527 377186 246816 282005 760210 1763744 6884 1950 1099066 508457 1616357 31574517 28228231 2604379 14089389 22524860 99021376 0.96590 0.97490 0.01780 0.01000 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2018 AMOUNT: $ 6,884. 2019 AMOUNT: $ 1,950. 2020 AMOUNT: $ 1,099,066. 2021 AMOUNT: $ 508,457. 2022 AMOUNT: $ 0. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 387976 387976 4481489 660733 3820756 22554 7727 14827 169036 150699 18337 1458062 406416 1051646 5293542 OPERATING LEASE LIABILITY 1108457 1108457 X 18247221 -285474 188798 -3943866 -4040542 22287763 48299 -29337 18962 22306725 17523432 175586 29337 204923 17318509 48299 3943866 3992165 21310674 PART X, LINE 2: THE CONSORTIUM IS ORGANIZED AS A NEVADA NONPROFIT CORPORATION AND HAS BEEN RECOGNIZED BY THE IRS AS EXEMPT FROM FEDERAL INCOME TAXES UNDER IRC SECTION 501(A) AS AN ORGANIZATION DESCRIBED IN IRC SECTION 501(C)(3) AND QUALIFIES FOR THE CHARITABLE CONTRIBUTION DEDUCTION. THE CONSORTIUM IS ANNUALLY REQUIRED TO FILE A RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX (FORM 990) WITH THE IRS. IN ADDITION, THE CONSORTIUM IS SUBJECT TO INCOME TAX ON NET INCOME THAT IS DERIVED FROM BUSINESS ACTIVITIES THAT ARE UNRELATED TO THEIR EXEMPT PURPOSES. THE CONSORTIUM DETERMINED THAT IT IS NOT SUBJECT TO UNRELATED BUSINESS INCOME TAX AND HAS NOT FILED AN EXEMPT ORGANIZATION BUSINESS INCOME TAX RETURN (FORM 990-T) WITH THE IRS. THE WHOLLY-OWNED SUBSIDIARIES ARE CONSIDERED DISREGARDED ENTITIES FOR TAX PURPOSES. THE CONSORTIUM ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES, WHICH REQUIRES THE RECOGNITION OF UNCERTAIN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN WHEN IT IS "MORE LIKELY THAN NOT" TO BE SUSTAINED UPON EXAMINATION BY TAX AUTHORITIES. THE CONSORTIUM DID NOT HAVE A LIABILITY FOR UNRECOGNIZED TAX BENEFITS AS OF MAY 31, 2023. THE CONSORTIUM'S POLICY IS TO RECOGNIZE INTEREST AND PENALTIES ACCRUED ON ANY UNRECOGNIZED TAX BENEFITS. AS OF MAY 31, 2023, THE CONSORTIUM DID NOT HAVE ANY UNRECOGNIZED TAX BENEFITS; THEREFORE, THE CONSORTIUM DID NOT HAVE ANY INTEREST OR PENALTIES EXPENSE RELATED TO UNRECOGNIZED TAX BENEFITS FOR THE YEAR ENDED MAY 31, 2023. THE CONSORTIUM IS NOT SUBJECT TO FEDERAL INCOME TAX EXAMINATIONS FOR YEARS BEFORE 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: PARTNERSHIP PROGRAM EXPENSES -3,356,223. SCHOLARSHIPS -587,643. PART XI, LINE 4B - OTHER ADJUSTMENTS: RENTAL EXPENSE -29,337. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSE 29,337. PART XII, LINE 4B - OTHER ADJUSTMENTS: PARTNERSHIP PROGRAM EXPENSES 3,356,223. SCHOLARSHIPS 587,643. CENTRAL AMERICA AND THE CARIBBEAN 3 18 PROGRAM SERVICES STUDY ABROAD PROGRAMS 1076969 EAST ASIA AND THE PACIFIC 3 6 PROGRAM SERVICES STUDY ABROAD PROGRAMS 1808416 EUROPE (INCLUDING ICELAND & GREENLAND) 16 124 PROGRAM SERVICES STUDY ABROAD PROGRAMS 8358800 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAMS 10930 SOUTH AMERICA 2 23 PROGRAM SERVICES STUDY ABROAD PROGRAMS 573908 SOUTH ASIA 1 1 PROGRAM SERVICES STUDY ABROAD PROGRAMS 31792 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES STUDY ABROAD PROGRAMS 20449 25 172 0 0 25 172 11881264 0 11881264 1 0 1 0 0 0 PART III ACCOUNTING METHOD: FORM 990, SCHEDULE F, PART I, LINE 3, COLUMN (F): USAC ACCOUNTS FOR EXPENDITURES AND CASH GRANTS USING THE ACCRUAL METHOD. 1 USAC ANNUAL SCHOLARSHIP 53 35134 USAC MISC SCHOLARSHIP 128 160563 USAC NETWORK SCHOLARSHIP 32 52500 USAC TUITION DISCOUNTS 1123 339446 PART I, LINE 2: TO ENSURE PROPER USE OF THE GRANTS AWARDED, USAC CREDITS THE GRANT AMOUNT DIRECTLY TO THE PROGRAM FEE ON THE STUDENT'S ACCOUNT LIMITING ITS DIVERSION TO UNINTENDED USES. X X 0 0 0 0 0 0 0 0 0 DR ALYSSA NOTA PRESIDENT/CEO 151084 0 0 0 0 0 6115 0 12784 0 169983 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A EXCEPT AS OTHERWISE PROVIDED BY LAW, THE ARTICLES OF INCORPORATION, OR THE BY LAWS, THE ACTIVITIES AND AFFAIRS OF USAC ARE TO BE CONDUCTED AND ALL CORPORATE POWERS SHALL BE EXERCISED BY OR UNDER THE DIRECTION OF THE BOARD. HOWEVER, THE BOARD MAY DELEGATE THE MANAGEMENT OF THE ACTIVITIES OF USAC TO ONE OR MORE COMMITTEES. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY A NATIONAL INDEPENDENT ACCOUNTING FIRM WITH THE ASSISTANCE OF MANAGEMENT. SUBSEQUENT TO THE PREPARATION THE RETURN IS REVIEWED BY MULTIPLE LAYERS OF MANAGEMENT AND ONCE FINALIZED SENT TO THE BOARD FOR REVIEW AND APPROVAL PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, OFFICER, AND MEMBER OF A COMMITTEE WITH BOARD DELEGATED POWERS MUST ANNUALLY SIGN A CONFLICT OF INTEREST DISCLOSURE STATEMENT. ADDITIONALLY, MANAGEMENT STAFF AND KEY EMPLOYEES ARE REQUIRED TO COMPLETE THE SAME ANNUAL STATEMENT. THE STATEMENT AFFIRMS SUCH PERSON: A. HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY; B. HAS READ AND UNDERSTANDS THE POLICY; C. HAS AGREED TO COMPLY WITH THE POLICY; AND D. UNDERSTANDS THE CORPORATION IS CHARITABLE AND IN ORDER TO MAINTAIN ITS FEDERAL TAX EXEMPTION IT MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. TO ENSURE THE CORPORATION OPERATES IN A MANNER CONSISTENT WITH CHARITABLE PURPOSES AND DOES NOT ENGAGE IN ACTIVITIES THAT COULD JEOPARDIZE ITS TAX-EXEMPT STATUS, PERIODIC REVIEWS ARE CONDUCTED. THERE ARE PROCEDURES INCLUDED IN THE "CONFLICT OF INTEREST ANNUAL STATEMENT" IF A POTENTIAL CONFLICT IS IDENTIFIED. FORM 990, PART VI, SECTION B, LINE 15 PER ARTICLE V, SECTION 3, OF THE USAC BYLAWS, THE BOARD, OR ANY AUTHORIZED COMMITTEE OF THE BOARD, SHALL REVIEW AND APPROVE THE COMPENSATION, INCLUDING BENEFITS, OF THE OFFICERS OF THE CORPORATION TO ENSURE THAT EACH SUCH OFFICER'S COMPENSATION IS JUST AND REASONABLE. SUCH REVIEW AND APPROVAL SHALL OCCUR WHEN THE OFFICER IS INITIALLY HIRED, WHENEVER THE OFFICER'S TERM OF EMPLOYMENT IS RENEWED OR EXTENDED. DURING THE INITIAL HIRING PROCESS COMPENSATION OF KEY EMPLOYEES IS SCREENED BY THE HUMAN RESOURCES DIRECTOR AND GOES THROUGH SEVERAL STEPS OF APPROVAL. THE PROCESS INCLUDES RESEARCH ON PAY RATES AND COMPARABLE SALARIES. KEY EMPLOYEE COMPENSATION IS REVIEWED ANNUALLY DURING THE REVIEW PROCESS. FORM 990, PART VI, SECTION C, LINE 19 ALL COPIES OF OUR GOVERNING DOCUMENTS, CONFLICT POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: FOREIGN TRANSACTION GAIN 37,983. UNIVERSITY STUDIES ABROAD CONSORTIUM AV REPUBLICA 470 1 COMUNA SANTIAGO CI STUDY ABROAD CI 0 0 USAC USAC FRANCE - PAU UNIVERSITE DE PAU ET DES PAYS DE L UPPAFACULTY OF LETTERS PAU FR 64000 STUDY ABROAD FR 0 0 USAC USAC ITALIA VIA VENTIMIGLIA 115 TORINO IT 10126 STUDY ABROAD IT 0 0 USAC USAC SPAIN CAMPUS UNIV EDIFICIO BIBLIOTE LEIOA BIZKAIA SP SP 49640 STUDY ABROAD SP 0 0 USAC USAC FRANCE - LYON UNIVERSITE LUMIERE LYON 216 QUAI C BERNARD LYON FR 69007 STUDY ABROAD FR 0 0 USAC ASSOCIATION CIVIC USAC ESPANA BLVR MONTEVIDEO UY 2633 STUDY ABROAD UY 0 0 USAC UNIVERSITY STUDIES ABROAD CONSORTIUM 1664 N VIRGINIA ST MS 0323 RENO NV 895570323 STUDY ABROAD BR 0 0 USAC UNIVERSITY STUDIES ABROAD CONSORTIUM OFICINA DE USAC SEDE DE OCCIDENTE SAN RAMON ALAJUELA CS STUDY ABROAD CS USAC 1 USAC FOUNDATION OF THAILAND CHIANG MAI UNIVERSITY 239 HUAYKAEW MUANG GHIAMG MAI TH STUDY ABROAD TH USAC 1 USAC UNITED KINGDOM LIMITED KILDARE HOUSE 3 DORSET RISE LONDON UK STUDY ABROAD UK USAC 1 USAC IRELAND COMPANY LTD 88 HARCOURT STREET DUBLIN EI 2 D02DK18 STUDY ABROAD EI USAC 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 USAC (COSTA RICA) R 1067000 AMT TRANSFERRED USAC (THAILAND) R 490141 AMT TRANSFERRED USAC (UNITED KINGDOM) R 250942 AMT TRANSFERRED USAC (IRELAND) R 136767 AMT TRANSFERRED FORM 990, SCHEDULE R, PART I: THE ENTITIES LISTED IN PART I ARE NONFUNCTIONAL ENTITIES, ORGANIZED FOR THE SOLE PURPOSE OF HOLDING BANK ACCOUNTS AND PAYING PAYROLL EXPENSES IN THE FOREIGN COUNTRIES IN WHICH USAC OPERATES. USAC HAS TAKEN THE POSITION THAT THEY ARE DISREGARDED AND THERE IS NO REPORTABLE ACTIVITY OR ASSETS IN THESE ENTITIES. FORM 990, SCHEDULE R, PART II: THE ENTITIES LISTED IN PART II ARE NONFUNCTIONAL CORPORATIONS, ORGANIZED FOR THE SOLE PURPOSE OF HOLDING BANK ACCOUNTS AND PAYING PAYROLL EXPENSES IN THE FOREIGN COUNTRIES. USAC HAS TAKEN THE POSITION THAT THEY ARE CONTROLLED FOREIGN CORPORATIONS AND THERE IS NO REPORTABLE ACTIVITY OR ASSETS HELD IN THESE ENTITIES.