Association of Governing Boards of Universities and Colleges

Nonprofit profile at a glance

EIN
840502574
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-T 2024
Location
Washington, DC, USA
Phone
2022968400
Rating
75
Verdict
SUPPORTED
Rating confidence
Standard
Sector
Higher Education Institutions

Reported finances

Revenue
$16,733,862
Expenses
$15,810,508
Assets
$25,643,519
Liabilities
$10,046,144

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

29 people listed

Executive titles in this filing

  • PATRICIA KUNKLE (SENIOR VICE PRESIDENT)
  • ELLEN CHAFFEE (INT. PRESIDENT & CEO UNTIL 08/24)
  • CHRISTINA JACOBS (SENIOR VICE PRESIDENT)
  • CRISTIN J TOUTSI GRIGOS (SENIOR VICE PRESIDENT)
  • FRAMROZE VIRJEE (PRESIDENT & CEO FROM 08/24-02/25)
  • LARRY ROBERTSON (SENIOR VICE PRESIDENT)

Highest reported compensation

  • RODERICK MCDAVIS (PRINCIPAL): $435,422 total reported compensation
  • MARY PAPAZIAN (EXECUTIVE VP UNTIL 06/25): $408,844 total reported compensation
  • MARIA NAZARETH (SENIOR VP & TREASURER): $394,313 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

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.

What it reported doing in 2024

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.

Operating model

Revenue model
Earned-program. 78% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 55
  • Transparency & Controls: 90
  • Accountability: 94
  • Sustainability: 46
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 58.4%; rating input score 58
  • Program expense ratio: 64.8%; rating input score 65
  • Fundraising efficiency: $3.72 raised per $1 spent on fundraising; rating input score 14; 14th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 62nd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 90%; rating input score 90; 22nd percentile among comparable filings
  • Governance controls: 9 of 9 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.5%; rating input score 55; 55th percentile among comparable filings
  • Total-asset coverage ratio: 1.62; rating input score 54; 54th percentile among comparable filings
  • Liabilities to assets ratio: 0.39; rating input score 37; 37th percentile among comparable filings
  • Officer compensation ratio: 24%; rating input score 2; 2nd percentile among comparable filings

Growth

  • Program expense growth: 4.3% per year; rating input score 100; 36th percentile among comparable filings
  • Revenue growth: 3.7% per year; rating input score 100; 32nd percentile among comparable filings
  • Asset growth: 7.8% per year; rating input score 100; 54th percentile among comparable filings

Details

  • Where the money goes: 58.4% of revenue deployed · 64.8% of spending went to programs
  • Governance: 9 of 10 board members independent · 9 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $10.3M in reported program spending
  • Leadership: top reported pay $435K · 29 people listed · 4 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $1.2M reported
  • Consistency: 34 of 34 current checks pass
  • Schedules: 7 filed schedules · includes major donors and executive pay
  • Filing history: 6 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Mission deployment rate scored 58/100.
  • High — Financial Efficiency: Fundraising efficiency scored 14/100.
  • Review — Sustainability: Operating margin scored 55/100.
  • Review — Sustainability: Total-asset coverage ratio scored 54/100.
  • High — Sustainability: Officer compensation ratio scored 2/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 37/100.