2024-09-11T09:12:57-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN LLP 150 S WARNER ROAD SUITE 310 KING OF PRUSSIA PA 19406 990 2023-01-01 231731998 FOREIGN POLICY RESEARCH INSTITUTE FORE 2157323774 123 S BROAD STREET 1920 PHILADELPHIA PA 19109 JANICE SALERNO DIRECTOR OF FINANCE 2157323774 2024-09-10 1 0 WILLIAM A LOUGHERY P01603932 2156433900 2024-09-10 2023 2024-08-08 14:25:15Z AARON STEIN 123 S BROAD STREET 1920 PHILADELPHIA PA 19109 2451149 0 X WWW.FPRI.ORG X 1970 DE HIGHEST QUALITY SCHOLARSHIP AND NONPARTISAN POLICY ANALYSIS FOCUSED ON U.S. FOREIGN POLICY 42 42 17 50 0 0 2703074 2182426 234316 190055 3086 32941 50759 -1275 2991235 2404147 0 0 0 0 1390351 1618115 0 0 565857 1287531 1396939 2677882 3015054 313353 -610907 2766641 3323120 244090 1410170 2522551 1912950 X THE FOREIGN POLICY RESEARCH INSTITUTE (FPRI) IS DEDICATED TO PRODUCING THE HIGHEST QUALITY SCHOLARSHIP AND NONPARTISAN POLICY ANALYSIS FOCUSED ON CRUCIAL FOREIGN POLICY AND NATIONAL SECURITY CHALLENGES FACING THE UNITED STATES. WE EDUCATE THOSE WHO MAKE AND INFLUENCE POLICY, AS WELL AS THE PUBLIC AT LARGE, THROUGH THE LENS OF HISTORY, GEOGRAPHY, AND CULTURE. 0 0 1934096 0 40292 RESEARCH: FPRI IS DEDICATED TO PRODUCING THE HIGHEST QUALITY SCHOLARSHIP AND NONPARTISAN POLICY ANALYSIS FOCUSED ON CRUCIAL FOREIGN POLICY AND NATIONAL SECURITY CHALLENGES FACING THE UNITED STATES. WE EDUCATE THOSE WHO MAKE AND INFLUENCE POLICY, AS WELL AS THE PUBLIC AT LARGE, THROUGH THE LENS OF HISTORY, GEOGRAPHY, AND CULTURE. FPRI HAS SIX MAIN RESEARCH PROGRAMS: AMERICA AND THE WEST, EAST ASIA, EURASIA, THE MIDDLE EAST, NATIONAL SECURITY, AND AFRICA. 182033 0 119748 PUBLICATIONS: FPRI SPONSORS AND PUBLISHES A WIDE ARRAY OF ARTICLES, PAPERS, BOOKS, E-BOOKS, AND OTHER PUBLICATIONS FOR POLICYMAKERS, EDUCATORS, AND THE GENERAL PUBLIC. THESE INCLUDE: ORBIS: FPRI'S JOURNAL OF WORLD AFFAIRS, AS WELL AS REGULAR ANALYSIS AND LONGER SPECIAL REPORTS ON INTERNATIONAL AFFAIRS AND NATIONAL SECURITY. FPRI ALSO PROVIDES ACCESS TO AND DISTRIBUTES AUDIO-VISUAL MATERIALS, INCLUDING PODCASTS ON MEDIA AND STREAMING SERVICES SUCH AS ITUNES AND SPOTIFY, AND SHORT TOPICAL VIDEOS AND RECORDINGS OF PAST EVENTS ON FPRI'S YOUTUBE CHANNEL. FPRI'S RESEARCH PROGRAMS ALSO PUBLISH SPECIAL REPORTS AND MULTIMEDIA PRODUCTS. 113770 0 44107 LECTURES & SEMINARS: FPRI HOSTS NUMEROUS EVENTS THROUGHOUT THE YEAR, SUCH AS BRIEFINGS, BOOK TALKS, AND LECTURES ON ALL ASPECTS OF FOREIGN AFFAIRS AND NATIONAL SECURITY. THESE LECTURES AND SEMINARS INCLUDE REGULAR SERIES IN PHILADELPHIA AND ITS SUBURBS, PRINCETON, NEW YORK CITY, MIAMI, AND WASHINGTON, DC; ANNUAL LECTURES, SUCH AS THE GINSBURG-SATELL LECTURE ON AMERICAN IDENTITY AND CHARACTER, AND THE TEMPLETON LECTURE ON RELIGION AND WORLD AFFAIRS; AND SPECIAL EVENTS,SUCH AS THE FPRI ANNUAL DINNER DURING WHICH THE BENJAMIN FRANKLIN AWARD FOR PUBLIC SERVICE IS AWARDED TO A STATESMAN, SCHOLAR, OR SOLDIER WHO BEST EMBODIES THE IDEALS OF FPRI. PAST AWARDEES INCLUDE HENRY KISSINGER, ROBERT D. KAPLAN, GENERAL JAMES MATTIS, GENERAL MICHAEL HAYDEN, ASH CARTER, AND GENERAL H.R. MCMASTER. 9306 0 948 MISCELLANEOUS EDUCATION 9306 0 948 2239205 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 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 0 0 0 0 0 1 52 0 1 17 1 0 0 0 0 0 1 0 0 0 0 0 0 0 X 42 42 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 PA X X JANICE SALERNO 2157323774 123 S BROAD STREET SUITE 1920 PHILADELPHIA PA 19109 ROBERT L FREEDMAN CHAIRMAN 2.00 X X 0 0 0 DEVON CROSS VICE CHAIR 2.00 X X 0 0 0 HON DOV S ZAKHEIM VICE CHAIR 2.00 X X 0 0 0 MARSHALL W PAGON TREASURER 2.00 X X 0 0 0 JAMES H AVERILL TRUSTEE 2.00 X 0 0 0 J MICHAEL BARRON TRUSTEE 2.00 X 0 0 0 AMB ADRIAN A BASORA TRUSTEE 2.00 X 0 0 0 EDWARD T BISHOP TRUSTEE 2.00 X 0 0 0 GWEN BOROWSKY TRUSTEE 2.00 X 0 0 0 RUTH BRAMSON TRUSTEE 2.00 X 0 0 0 ROBERT E CARR TRUSTEE 2.00 X 0 0 0 LARRY CEISLER TRUSTEE 2.00 X 0 0 0 AHMED CHARAI TRUSTEE 2.00 X 0 0 0 BUNTZIE CHURCHILL TRUSTEE 2.00 X 0 0 0 WINSTON J CHURCHILL TRUSTEE 2.00 X 0 0 0 GERARD CUDDY TRUSTEE 2.00 X 0 0 0 PETER DACHOWSKI TRUSTEE 2.00 X 0 0 0 JOSEPH FIELD TRUSTEE 2.00 X 0 0 0 JAMES H GATELY TRUSTEE 2.00 X 0 0 0 SUSAN H GOLDBERG TRUSTEE 2.00 X 0 0 0 JOHN HILLEN TRUSTEE 2.00 X 0 0 0 JAMES T HITCH III TRUSTEE 2.00 X 0 0 0 DAVID HUNT TRUSTEE 2.00 X 0 0 0 DONALD R KARDON TRUSTEE 2.00 X 0 0 0 MARINA KATS TRUSTEE 2.00 X 0 0 0 EILEEN KENNEDY TRUSTEE 2.00 X 0 0 0 LAURA LAROSA TRUSTEE 2.00 X 0 0 0 MURRAY S LEVIN TRUSTEE 2.00 X 0 0 0 ALAN H LUXENBERG TRUSTEE 2.00 X 0 0 0 DAVID MARSHALL TRUSTEE 2.00 X 0 0 0 JAMES MEYER TRUSTEE 2.00 X 0 0 0 RONALD J NAPLES TRUSTEE 2.00 X 0 0 0 EDWARD O'CONNOR TRUSTEE 2.00 X 0 0 0 JAMES M PAPADA III TRUSTEE 2.00 X 0 0 0 STEPHEN S PHILLIPS TRUSTEE 2.00 X 0 0 0 JOHN W PIASECKI TRUSTEE 2.00 X 0 0 0 AMB CHARES A RAY TRUSTEE 2.00 X 0 0 0 EILEEN ROSENAU TRUSTEE 2.00 X 0 0 0 ADELE K SCHAEFFER TRUSTEE 2.00 X 0 0 0 ERIC STERN TRUSTEE 2.00 X 0 0 0 HILLARD R TORGERSON TRUSTEE 2.00 X 0 0 0 LEE WOOLLEY TRUSTEE 2.00 X 0 0 0 CAROL FLYNN PRESIDENT 35.00 X 262000 0 29395 GEORGE C BURGWIN DIRECTOR OF FINANCE (ENDED 06/2023) 35.00 X 57221 0 2861 JANICE SALERNO DIRECTOR OF FINANCE 35.00 X 115141 0 14259 ROBERT KAPLAN CHAIR OF GEOPOLITICS 35.00 X 155000 0 7750 JIM RYAN DIRECTOR OF RESEARCH 35.00 X 135700 0 7112 725062 0 61377 4 0 1 0 0 141144 226124 1815158 2182426 PUBLICATIONS 513110 100916 100916 MEMBERSHIPS AND PARTNE 900099 89139 89139 190055 32941 32941 15040 15040 14153 141144 47002 -32849 -32849 VENDOR CREDIT 900099 11442 11442 INSURANCE REBATE 900099 5092 5092 16534 2404147 205095 0 16626 480877 192351 96175 192351 955943 749434 52617 153892 18256 16284 331 1641 54602 44191 2661 7750 108437 71568 10844 26025 28185 22926 1547 3712 47440 38588 2603 6249 29060 23744 662 4654 64855 38156 14499 12200 72993 47878 7254 17861 154417 101915 15442 37060 220554 187905 32649 101300 52837 839 47624 9605 6339 961 2305 19506 12874 1951 4681 HONORARIA & STIPENDS 621472 621472 0 0 SUBS. & MEMBERSHIPS 9222 0 0 9222 FINANCE CHARGES 6245 1800 587 3858 RECRUITING 77 58 5 14 12008 8885 1014 2109 3015054 2239205 209992 565857 1460806 1037007 633355 678536 412348 250208 82675 66370 19781 23750 260988 174513 19648 86475 12515 14714 125513 1166060 2766641 3323120 130045 70043 56233 36921 57812 1303206 244090 1410170 X 1122102 794267 1400449 1118683 2522551 1912950 2766641 3323120 -610907 1306 0 X X 0 1 X 1 0 X 1998033 2104246 3013206 2703074 2182426 12000985 1998033 2104246 3013206 2703074 2182426 12000985 5106131 6894854 5759 1068 519 3086 32941 43373 30 2992 264 34619 16534 54439 12098797 1450931 0.56990 0.56400 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER INCOME - 2019 AMOUNT: $ 30. 2020 AMOUNT: $ 2,992. 2021 AMOUNT: $ 264. 2022 AMOUNT: $ 34,619. MERCHANDISE REVENUE - VENDOR CREDIT - 2023 AMOUNT: $ 11,442. INSURANCE REBATE - 2023 AMOUNT: $ 5,092. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 12515 2199 14714 15059 -2544 12515 13185 1874 15059 11327 1858 13185 10000 1327 11327 1.00000 0 0 260988 174513 86475 86475 OFFICE LEASE SECURITY DEPOSIT 40043 RIGHT OF USE LEASE ASSET 1126017 1166060 LEASE LIABILITY 1224098 OTHER 79108 1303206 X 2452455 1306 47002 48308 2404147 0 2404147 3062056 47002 47002 3015054 0 3015054 PART V, LINE 4: THE ENDOWMENT IS INTENDED TO BE USED FOR SCHOLARSHIPS AND TO SUPPORT GENERAL OPERATIONS OF THE INSTITUTE. PART X, LINE 2: THE INSTITUTE IS EXEMPT FROM FEDERAL INCOME TAXES UNDER INTERNAL REVENUE CODE (IRC) SECTION 501(C)(3) AND APPLICABLE STATE LAW. ACCORDINGLY, THERE IS NO PROVISION FOR INCOME TAXES. THE INSTITUTE IS NOT AWARE OF ANY ACTIVITIES THAT WOULD JEOPARDIZE ITS TAX-EXEMPT STATUS, NOR IS IT AWARE OF ANY OF ITS ACTIVITIES THAT ARE SUBJECT TO TAX ON UNRELATED BUSINESS INCOME TAXES. THE INSTITUTE FOLLOWS THE GUIDANCE IN THE INCOME TAX STANDARD REGARDING THE RECOGNITION AND MEASUREMENT OF UNCERTAIN TAX POSITIONS. THE APPLICATION OF THIS STANDARD HAD NO IMPACT ON THE INSTITUTE'S FINANCIAL STATEMENTS, AS MANAGEMENT HAS NOT TAKEN ANY UNCERTAIN TAX POSITIONS IN 2023. THE INSTITUTE'S INCOME TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE, AND LOCAL AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: EVENT EXPENSES PART XII, LINE 2D - OTHER ADJUSTMENTS: EVENT EXPENSES BEN FRANKLIN AWARD (GALA) 155297 141144 14153 24975 22027 155297 141144 14153 24975 22027 47002 -32849 X X X X X 0 0 0 0 0 0 0 1 0 CAROL FLYNN PRESIDENT 232000 0 30000 0 0 0 13100 0 16295 0 291395 0 0 0 ROBERT KAPLAN CHAIR OF GEOPOLITICS 155000 0 0 0 0 0 7750 0 0 0 162750 0 0 0 PART I, LINE 3 COMPENSATION OF THE PRESIDENT IS REVIEWED AND RECOMMENDED TO THE BOARD OF TRUSTEES BY THE COMPENSATION COMMITTEE. PART I, LINE 7 THE PRESIDENT'S BONUS IS REPORTED ON SCH. J, PART II, COLUMN B (II) AND IS SET BY THE COMPENSATION COMMITTEE ACCORDING TO FULFILLMENT OF AGREED-UPON GOALS. THE DELIBERATION AND FINAL DETERMINATION OF THE BONUS IS TIMELY DOCUMENTED. FORM 990, PART VI, SECTION A, LINE 1A OFFICERS AND CHAIRS OF BOARD COMMITTEES. ALL ARE MEMBERS OF THE GOVERNING BODY. COMMITTEE IS CALLED AND ACTS ON AN AD-HOC BASIS. THEY BEGAN TRYING TO MEET QUARTERLY IN 2023. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. A DRAFT OF THE FORM 990 IS REVIEWED BY SENIOR MANAGEMENT AND THE FINANCE COMMITTEE OF THE BOARD OF TRUSTEES FOR THEIR REVIEW AND COMMENTARY. THE VERSION OF THE FORM 990 PREPARED FOR ELECTRONIC FILING IS THEN PROVIDED TO THE BOARD OF TRUSTEES FOR FINAL REVIEW BEFORE E-FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST CERTIFICATIONS ARE REQUESTED FROM TRUSTEES AND OTHER OFFICERS AT THE BEGINNING OF EACH CALENDAR YEAR. MANAGEMENT PROVIDES COPIES OF: 1) THE CONFLICT OF INTEREST POLICY; 2) A LIST OF VENDORS, FINANCIAL INSTITUTIONS, EMPLOYEES, AND INDEPENDENT CONTRACTORS WITH WHICH THE ORGANIZATION DOES BUSINESS, AND 3) A CERTIFICATION FORM TO BE RETURNED, CERTIFYING THAT: 1) THE INDIVIDUAL HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY AND 2) SPECIFYING THE INDIVIDUAL'S CONFLICTS OF INTEREST, IF ANY, OR SPECIFYING THAT THE INDIVIDUAL HAS NO CONFLICTS. INTERIM CERTIFICATION REQUESTS ARE SUBMITTED TO INDIVIDUALS FOR ACTUAL OR POTENTIAL CONFLICTS THAT ARISE BETWEEN ANNUAL CERTIFICATIONS. POTENTIAL CONFLICTS THAT ARE DISCLOSED ARE DISCUSSED AND ACTED UPON BY THE FULL BOARD OF TRUSTEES. BOARD ACTIONS MAY INCLUDE: DETERMINATION THAT NO ACTUAL CONFLICT EXISTS AND THAT NO FURTHER ACTION IS REQUIRED BASED ON ANY REASONABLE GROUNDS, INCLUDING THE NOMINAL NATURE OF ANY INTEREST INVOLVED. IF AN ACTUAL CONFLICT IS DETERMINED TO EXIST, NEITHER FPRI NOR THE INTERESTED PERSON SHALL ENTER INTO OR CONTINUE THE TRANSACTION OR ARRANGEMENT PRESENTING THE CONFLICT UNLESS IT IS APPROVED BY THE BOARD. IN APPROVING A TRANSACTION OR RELATIONSHIP WHERE THERE IS A CONFLICT, THE BOARD SHALL CONSIDER WHETHER A MORE FAVORABLE ALTERNATIVE TRANSACTION OR ARRANGEMENT IS AVAILABLE WITH A PARTY THAT DOES NOT PRESENT A CONFLICT. IF A MORE ADVANTAGEOUS NON-CONFLICT TRANSACTION OR ARRANGEMENT IS NOT REASONABLY POSSIBLE UNDER THE CIRCUMSTANCES, THE BOARD SHALL DETERMINE, BY A MAJORITY VOTE OF THE DISINTERESTED TRUSTEES, WHETHER TO APPROVE A CONFLICT BY CONSIDERING WHETHER SUCH CONFLICT IS IN THE ORGANIZATION'S BEST INTEREST AND WHETHER IT IS FAIR AND REASONABLE. INDIVIDUALS WHO HAVE CONFLICTS ARE NOT PERMITTED TO PARTICIPATE IN THE DISCUSSIONS OR DECISIONS CONCERNING CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION OF THE PRESIDENT IS REVIEWED AND RECOMMENDED TO THE BOARD OF TRUSTEES BY THE BOARD'S COMPENSATION COMMITTEE AS PART OF THE PROCESS OF APPROVING THE ANNUAL BUDGET. CRITERIA USED IN THE COMMITTEE'S DELIBERATIONS INCLUDE: COMPENSATION PAID BY SIMILAR ORGANIZATIONS IN TERMS OF FOCUS/SIZE. THE BOARD OF TRUSTEES REVIEWS THE COMMITTEE'S RECOMMENDATION AND EITHER APPROVES THE RECOMMENDATION OR APPROVES A REVISED AMOUNT OF COMPENSATION. COMPENSATION OF OTHER OFFICERS IS DETERMINED BY SENIOR MANAGEMENT, IN CONSULTATION WITH THE COMPENSATION COMMITTEE, WITH REFERENCE TO COMPENSATION LEVELS FOR SIMILAR POSITIONS IN SIMILAR ORGANIZATIONS. DELIBERATIONS AND FINAL DETERMINATION OF COMPENSATION FOR THE PRESIDENT AND OTHER OFFICERS ARE TIMELY DOCUMENTED. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS AND CONFLICT OF INTEREST POLICY ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE ORGANIZATION'S RECENT FINANCIAL STATEMENTS ARE PUBLISHED ON THE WEBSITE; PRIOR YEARS ARE AVAILABLE UPON REQUEST. PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.