Trends of the Sakai Foundation and JA-SIG Inc.

A Financial Analysis6 March 2012

Supplements 1 April 2012

5 April 2012

15 April 2012

20 April 2012

11 May 2012

The collection was assembled 13 May 2012

Trends of the Sakai FoundationA Financial Analysis

6 March 2012

Notes:

This is a collection of slides for use in preparing documents for the Jasig Inc. and Sakai Foundation consolidation (merger) into Apereo Inc. The content of the “slides” can be copied and used in several different formats, including some not available in other Microsoft Office products. These are intentionally compatible with the Microsoft 2003 PowerPoint product.

These Supplements are presented in the sequence developed. Some are duplicates of previous slides in a earlier supplement; some are revisions of previous slides, and some are new to each supplement. The source of changes are strategic and tactical decisions of the Joint Work Group and the availability of additional data.

These tables and graphics were developed first in Microsoft Excel 2003 and copied to the PowerPoint slides. A copy of the source data and the Excel spreadsheets are available upon request of instructional media + magic inc. Acrobat Portable Data Format (PDF) copies are available in Im+m’s eLibrary via www.immagic.com.

Based on data from U.S. tax filings for each year calendar years 2006 through 2010, the financial statement for 2011 and proposed Sakai budget for 2012. Projections for 2013 were based on the projected 2012 rate of expenditures and the expected assets at the end of 2012. This assumes no additional members.

The total number of members terminating was based on the report “About Jasig Inc. and the Sakai Foundation,” 25 September 2011. These data do not include members added during the year.

Prepared by Jim Farmer6 March 2012

Supplement 1

Revised 1 April 2012

Based on data from Sakai Foundation U.S. tax filings for each year calendar years 2006 through 2010, the financial statement for 2011 and proposed Sakai budget for 2012. Projections for 2013 were based on the projected 2012 rate of expenditures and the expected assets at the end of 2012. This assumes no additional Sakai Foundation members. Data for 2005 will be added if the Sakai Foundation filed a calendar year 2005 tax return..

JA-SIG annual IRS filings were used for 2005-2010. Data for 2011 were not yet available. Projected values for 2011 and 2012 were based on a linear projection from 2006-2010 IRS data,

The total number of members terminating was based on the report “About Jasig Inc. and the Sakai Foundation,” 25 September 2011. These data do not include members added during the year.

Prepared by Jim Farmer1 April 2012

Supplement 2

5 April 2012

The supplement:

To better understand the impact of the 2008 financial Meltdown, the response of both The Sakai Foundation was analyzed using the original data displayed from the perspective of each organizations strategic response. First the income and expenses were compared for this period. This was followed by a comparison from 2008 expressed as percentages of the 2008 data. The 2011 results are compared to show changes in revenue, expenses and net income.

From the original notes:

Based on data from Sakai Foundation U.S. tax filings for each year calendar years 2006 through 2010, the financial statement for 2011 and proposed Sakai budget for 2012. Projections for 2013 were based on the projected 2012 rate of expenditures and the expected assets at the end of 2012. This assumes no additional net Sakai Foundation members or loss.

JA-SIG annual IRS filings were used for 2005-2011. Projected values for 2012 were based on a linear projection from 2008-2011 IRS data. The JA-SIG data was first added 1 April 2012 and values for 2011 were added 4 April based on sections from the JA-SIG IRS tax filing for 2011.

The total number of members terminating was based on the report “About Jasig Inc. and the Sakai Foundation,” 25 September 2011. These data do not include members added during the year.

Prepared by Jim FarmerRevised 5 April 2012

Supplement 3

13 April 2012

The supplement:

This provides information from the Sakai Educational Partners Program concerning the programs progress in meeting the goals from the original proposal made to, and accepted, by the William and Flora Hewlett Foundation.

From the original notes:

Based on data from Sakai Foundation U.S. tax filings for each year calendar years 2006 through 2010, the financial statement for 2011 and proposed Sakai budget for 2012. Projections for 2013 were based on the projected 2012 rate of expenditures and the expected assets at the end of 2012. This assumes no additional net Sakai Foundation members or loss.

JA-SIG annual IRS filings were used for 2005-2011. Projected values for 2012 were based on a linear projection from 2008-2011 IRS data. The JA-SIG data was first added 1 April 2012 and values for 2011 were added 4 April based on sections from the JA-SIG IRS tax filing for 2011.

The total number of members terminating was based on the report “About Jasig Inc. and the Sakai Foundation,” 25 September 2011. These data do not include members added during the year.

Prepared by Jim FarmerRevised 13 April 2012

Supplement 4

16 April 2012

High Deployment CountriesCountry Market Share Deployments

United States 57.8% 126

Canada 6.9% 15

United Kingdom 6.4% 14

France 6.0% 24.6% 13 + 58

Spain 4.1% 9

Poland 1.8% 4

Sweden 1.8% 4

Switzerland 1.8% 4

Hong Kong 1.2% 3

Malaysia 1.2% 3

Netherlands 1.2% 3

As ranked France does not include the 58 reported developments of the ESUP Portail Consortium

Data on the current registered deployments of Jasig products by the ESUP Portail Consortium were taken from Listes des déploiements on the Consortium website at http://www.esup-portail.org/pages/viewpage.action?pageId=54722590.

The deployments are volunteered by users. The data typically understates the actual deployments. It is difficult to estimate the actual total or if the various counts have the same distribution of values that would permit a more accurate estimate. Some are omitted if the person who provides the information is not fully aware of what software products are being used.

Prepared by Jim Farmer16 April 2012

Supplement 5

20 April 2012

Expected Change in University Support2011 or 2012

Country Change NotesAustria 5.0% Decreases in 2012Belgium -2.8%Czech Republic -3.0%Finland 12.0%France 3.0%Germany 2.0%Ireland -6.0%Italy -20.0%Netherlands -20.0%Poland 5.0% Decreases in 2012Portugal -19.5%Spain -10.0%Switzerland 3.1%United Kingdom -40% less tuition increasesUnited States -10.7% Public institutions only

Historical data from the im+m eLibrary, JasigData on the current registered deployments of Jasig products by the ESUP Portail Consortium were taken from Listes des déploiements on the Consortium website at http://www.esup-portail.org/pages/viewpage.action?pageId=54722590.

The deployments are volunteered by users. The data typically understates the actual deployments. It is difficult to estimate the actual total or if the various counts have the same distribution of values that would permit a more accurate estimate. Some are omitted if the person who provides the information is not fully aware of what software products are being used.

Prepared by Jim FarmerRevised 20 April 2012

Supplement 6

11 May 2012

Jasig Sakai ApereoAssets, December 31, 2011 221,941.00 252,160.00 474,101.00 Combined six month net income 88,161.00 Assets, June 30, 2012 562,262.00 Apero six month net income 42,537.00 Apereo assets end of year 2012 604,799.00

Transition Plan, expenses per month 51,570.33 Number of months, 2013 reserve only 11.7

Based on data from Sakai Foundation U.S. tax filings for each year calendar years 2006 through 2010, the financial statement for 2011 and proposed Sakai budget for 2012. Projections for 2013 were based on the projected 2012 rate of expenditures and the expected assets at the end of 2012. This assumes no additional Sakai Foundation members. Data for 2005 will be added if the Sakai Foundation filed a calendar year 2005 tax return..

JA-SIG annual IRS filings were used for 2005-2011. The JA-SIG proposed budget was used for 2012. Some projected values for 2012 were based on a linear projection from 2006-2010 IRS data,

Prepared by Jim Farmer11 May 2012