2021-05-14T13:10:03-05:00 2020-12-31 410746749 CLIFTONLARSONALLEN LLP 29 SOUTH MAIN STREET 4TH FLOOR WEST HARTFORD CT 06107 990 2020-01-01 042121305 AMERICAN INSTITUTE FOR ECONOMIC RESEARCH AMER 4135281216 PO BOX 1000 GREAT BARRINGTON MA 01230 MICHELE M KEARNS VICE PRESIDENT 4135281216 2021-05-13 1 MICHELE KEARNS XXX-XX-XXXX MARY KAY CURTISS P01551484 8605614000 2021-05-13 3 AAL1 IAL1 2020 2022-09-23 18:48:47Z MICHELE M KEARNS 250 DIVISION ST GREAT BARRINGTON MA 01230 9920054 0 X HTTPS://WWW.AIER.ORG/ X 1939 MA AIER CONDUCTS INDEPENDENT, SCIENTIFIC, ECONOMIC RESEARCH TO EDUCATE INDIVIDUALS, THEREBY ADVANCING THEIR PERSONAL INTERESTS AND THOSE OF THE NATION. 12 12 46 67 -18665 0 575129 1787021 70214 129270 3686035 687675 18822 -54793 4350200 2549173 127000 161715 0 0 3519209 3694861 0 0 1117238 2782495 3099388 6428704 6955964 -2078504 -4406791 203380124 198677158 94382297 88905340 108997827 109771818 X AMERICAN INSTITUTE FOR ECONOMIC RESEARCH (AIER) EDUCATES INDIVIDUALS ON THE VALUE OF PERSONAL FREEDOM, FREE ENTERPRISE, PROPERTY RIGHTS, LIMITED GOVERNMENT AND SOUND MONEY. AIER'S ONGOING SCIENTIFIC RESEARCH DEMONSTRATES THE IMPORTANCE OF THESE PRINCIPLES IN ADVANCING PEACE, PROSPERITY AND HUMAN PROGRESS. 0 0 2887053 0 129270 RESEARCH REPORTS AND BULLETINS PREPARATION AND DISTRIBUTION OF PERIODIC ECONOMIC REPORTS AND OCCASIONAL BOOKLETS FOCUSED ON SELECTED TOPICS IN THE AREAS OF FISCAL AND MONETARY ECONOMICS, INCLUDING PERSONAL ECONOMIC ISSUES. THESE ARE DISTRIBUTED TO MEMBERS AND THE GENERAL PUBLIC. DURING 2020, APPROXIMATELY 725,866 INDIVIDUALS, INSTITUTIONS AND PUBLISHERS RECEIVED THE REPORTS AND MORE THAN 10,537,130 READERS VISITED AIER'S WEBSITE. 2105782 161715 ACADEMIC PROGRAMS DURING 2020, AIER PROVIDED EDUCATIONAL OPPORTUNITIES FOR OVER 9,500 PARTICIPANTS/ATTENDEES. THROUGH OUR TEACH THE TEACHERS PROGRAM, 271 EDUCATORS SUCCESSFULLY COMPLETED COURSES DEALING WITH PRACTICAL ECONOMIC TOPICS WHICH THEY CAN USE FOR THEIR ESTIMATED 32,520 STUDENTS. THE BASTIAT SOCIETY AT AIER ORGANIZES AND HOSTS EDUCATION EVENTS FOR THE GENERAL BUSINESS COMMUNITY IN 47 CITIES AROUND THE WORLD. DURING THE YEAR, THIS PROGRAM HELD 197 EVENTS ATTRACTING OVER 6,800 PEOPLE. IN ADDITION, AIER WELCOMED 400 STUDENTS, SCHOLARS, AND MEMBERS OF THE PUBLIC TO ITS CAMPUS TO ATTEND VARIOUS COLLOQUIA, WORKSHOPS, AND FORUMS. AIER ALSO HOSTED 17 VISITING RESEARCHERS AND 9 INTERNS. AIER'S SOUND MONEY PROJECT CONDUCTS RESEARCH AND PROMOTES AWARENESS ABOUT MONETARY STABILITY AND FINANCIAL PRIVACY. THE PROJECT IS COMPRISED OF LEADING ACADEMICS AND PRACTITIONERS IN MONEY, BANKING AND MACROECONOMICS. IT OFFERS REGULAR COMMENTARY AND IN-DEPTH ANALYSIS ON MONETARY POLICY, ALTERNATIVE MONETARY SYSTEMS, FINANCIAL MARKETS REGULATIONS, CRYPTOCURRENCIES, AND THE HISTORY OF MONETARY AND MACROECONOMIC THOUGHT. MEMBERS OF THE PROJECT HAVE CONTRIBUTED ONE HUNDRED TEN ARTICLES TO AIER.ORG DURING 2020. 4992835 1 1 0 0 0 1 0 0 0 0 1 1 0 0 1 1 0 1 0 1 1 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 64 0 1 46 1 1 1 0 0 0 0 0 0 0 0 0 X 12 12 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA PA SC AL AK AR CA CO DC FL GA HI KS KY ME MD MI MN MS NV NH NJ NM NY NC ID OH OK OR PA RI TN UT VA WA WV WI MO X X MICHELE KEARNS VICE PRESIDENT 4135281216 250 DIVISION ST GREAT BARRINGTON MA 01230 GREGORY M VAN KIPNIS CHAIR 10.00 X X 0 0 0 STEPHEN C MILLER SECRETARY 5.00 X X 0 0 0 PETER T CALCAGNO ASSISTANT SECRETARY 5.00 X X 0 0 0 DR JR CLARK TRUSTEE 5.00 X 0 0 0 KATHERINE H DELAY TRUSTEE 5.00 X 0 0 0 LATIMER B EDDY TRUSTEE 5.00 X 0 0 0 NELSON E FURLANO TRUSTEE 5.00 X 0 0 0 DOUGLAS L HARWOOD TRUSTEE 5.00 X 0 0 0 DR BRADLEY K HOBBS TRUSTEE 5.00 X 0 0 0 KEITH A HOCTER TRUSTEE 5.00 X 0 0 0 JAMES C LORDEMAN TRUSTEE 5.00 X 0 0 0 HENRY J MILLER III TRUSTEE 5.00 X 0 0 0 DR BENJAMIN W POWELL TRUSTEE 5.00 X 0 0 0 DR GERALD E SOHAN TRUSTEE 5.00 X 0 0 0 EDWARD P STRINGHAM PRESIDENT & DIRECTOR OF RESEARCH & EDUCATION 40.00 X 344975 0 12733 MICHELE M KEARNS VICE PRESIDENT, FINANCE 40.00 X 169643 0 24283 JEFFREY A TUCKER EDITORIAL DIRECTOR 40.00 X 165905 0 30139 BRADLEY J DEVOS DIRECTOR OF PROGRAMS 40.00 X 138898 0 19948 ROBERT J HUGHES SENIOR RESEARCH FELLOW 40.00 X 140694 0 803 GAIL S ROGER DIRECTOR OF HUMAN RESOURCES 40.00 X 126602 0 17695 MATTHEW M GULKER FORMER SR RESEARCH FELLOW 10/1/2020 40.00 X 124934 0 10282 LUCIO S EASTMAN DESIGN TECHNOLOGIST 40.00 X 119134 0 14396 1330785 0 130279 12 0 1 0 BRUCE A FYFE 97 PIXLEY HILL ROAD HOUSATONIC MA 01236 GENERAL BUILDING CONTRACTOR 1033679 AMERICAN PHILANTHROPIC LLC 119 N HIGH ST WEST CHESTER PA 19380 DEVELOPMENT CONSULTANT 357404 PETER J DEL GRANDE PO BOX 541 HOUSATONIC MA 01236 CHEF 163456 CLEANING AND BEYOND - JEFFREY S SAYERS 227 ROBBINS AVE PITTSFIELD MA 01201 CLEANER 100384 4 1787021 339847 1787021 SALES OF PUBLICATIONS 511120 129270 129270 129270 427062 427062 186276 360181 -173905 -173905 -52367 -121538 7271313 7010700 260613 260613 260613 CHARITABLE REMAINDER I 900099 42864 42864 REIMBURSE FACILITIES 900099 42546 42546 MANAGEMENT REVENUE 900099 33702 33702 119112 2549173 129270 -18665 651547 X 136715 136715 25000 25000 747678 435497 221247 90934 2244503 1778912 211685 253906 83676 76730 6946 409471 300224 58574 50673 209533 157649 27882 24002 209005 209005 36850 36850 63401 63401 924351 520851 14534 388966 78619 8379 70240 124676 70802 16384 37490 222129 175149 17838 29142 488910 381350 39113 68447 218808 185930 2376 30502 35585 25306 10279 264066 205972 21125 36969 75092 34384 35175 5533 PUBLICATIONS 201670 201670 PUBLIC RELATIONS 94650 85185 9465 PERIODICALS AND SUBSCRI 18507 17995 512 TRUSTEE REIMBURSEMENT 1597 1597 41472 36860 868 3744 6955964 4992835 845891 1117238 906 674 3293649 4160563 18371 427840 64493 71781 9308762 3865069 3118087 5443693 28155929 28958344 167016861 157743512 1711828 1870751 203380124 198677158 547954 522567 93834343 88382773 94382297 88905340 X 35815309 40411079 73182518 69360739 108997827 109771818 203380124 198677158 X -4406791 1850598 3330184 X X 0 1 X 1 0 X 642392 1932985 806095 575129 1787012 5743613 642392 1932985 806095 575129 1787012 5743613 1524878 4218735 773466 878256 1193410 696655 906218 4448005 7720 1982 42739 31039 43871 127351 10318969 308516 0.40880 0.35780 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2016 AMOUNT: $ 7,720. 2017 AMOUNT: $ 1,982. 2018 AMOUNT: $ 42,739. 2019 AMOUNT: $ 31,039. 2020 AMOUNT: $ 43,871. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 100000 0 109615 1 1 294503 294503 7628594 2672843 4955751 791158 684264 106894 594507 507962 86545 5443693 RESTRICTED TRUST ASSETS UNDER SPLIT INTEREST AGREEMENTS 157633897 F OTHER RESTRICTED INVESTMENTS 109615 F 157743512 LIABILITIES UNDER SPLIT INTEREST AGREEMENTS 86337134 SPLIT INTEREST TRUSTS DISTRIBUTIONS PAYABLE 1947648 INVESTMENT ADVISORY FEE PAYABLE 97991 88382773 X PART X, LINE 2: AIER FILES FORM 990 ANNUALLY WITH THE INTERNAL REVENUE SERVICE. WHEN ANNUAL RETURNS ARE FILED, SOME TAX POSITIONS TAKEN ARE HIGHLY CERTAIN TO BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES, WHILE OTHER TAX POSITIONS ARE SUBJECT TO UNCERTAINTY ABOUT THE TECHNICAL MERITS OF THE POSITION OR AMOUNT OF THE POSITION'S TAX BENEFIT THAT WOULD BE ULTIMATELY SUSTAINED. MANAGEMENT EVALUATED TAX POSITIONS TAKEN AND HAS DETERMINED THAT AIER HAS NOT TAKEN ANY MATERIAL UNCERTAIN TAX POSITIONS AT DECEMBER 31, 2020 AND 2019. 0 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTS AND FINANCIAL ASSISTANCE TO RECIPIENTS LOCATED IN THE REGION 25000 0 0 0 0 0 0 25000 0 25000 EUROPE (INCLUDING ICELAND & GREENLAND) CONTRIBUTION FOR ECONOMIC CONFERENCES 25000 WIRE TRANSFER 0 1 0 0 0 0 0 0 PART III ACCOUNTING METHOD: 1 SCHOLARSHIPS - AIER EXTENDS FINANCIAL AID TO QUALIFIED STUDENTS OF ECONOMICS OR FINANCE TO ASSIST THEM IN THEIR GRADUATE LEVEL STUDIES AT THEIR REGULAR UNIVERSITIES 15 23050 N/A N/A PART I, LINE 2: NONE X X 1 0 X X X X 1 0 0 0 0 0 0 1 0 EDWARD P STRINGHAM PRESIDENT & DIRECTOR OF RESEARCH & E 319975 0 25000 0 0 0 10446 0 2287 0 357708 0 0 0 JEFFREY A TUCKER EDITORIAL DIRECTOR 165905 0 0 0 0 0 6936 0 23203 0 196044 0 0 0 MICHELE M KEARNS VICE PRESIDENT, FINANCE 169643 0 0 0 0 0 7118 0 17165 0 193926 0 0 0 BRADLEY J DEVOS DIRECTOR OF PROGRAMS 138898 0 0 0 0 0 5836 0 14112 0 158846 0 0 0 PART I, LINE 1A JEFFREY TUCKER IS THE MANOR STEWARD WHO RESIDES IN THE MANOR HOUSE AND HAS MEALS PROVIDED ONSITE. THIS IS A NON-TAXABLE BENEFIT. PART I, LINE 4A MATTHEW M. GULKER RECEIVED A SEVERANCE PAYMENT OF $10,410. THIS AMOUNT IS ONE MONTH'S WAGES PAID ON NORMAL SCHEDULE FOR GENERAL RELEASE. PART I, LINE 7 DISCRETIONARY BONUS WAS PAID TO THE PRESIDENT. X 5 226205 ELECTRONIC PRICING X CRYPTOCURRENCY 7 113642 ELECTRONIC PRICING 1 0 1 0 FORM 990, PART VI, SECTION A, LINE 2 KATHERINE DELAY AND DOUGLAS HARWOOD HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION ARE THOSE WHO ORIGINALLY ASSOCIATED TO INCORPORATE PLUS ADDITIONAL MEMBERS ELECTED UNDER THE PROVISIONS OF THE ORGANIZATION'S BYLAWS. THE MEMBERS OF THE CORPORATION MAY, BY A MAJORITY VOTE, ELECT ADDITIONAL MEMBERS, WHO SHALL SERVE FOR SIX YEARS AND SHALL BE ELIGIBLE FOR RE-ELECTION FOR SUCCESSIVE SIX YEAR TERMS; HOWEVER, THE TERM OF ANY MEMBER WHO IS AN EMPLOYEE OF THE INSTITUTE SHALL EXPIRE ON THE DATE SUCH MEMBER'S STATUS AS AN EMPLOYEE OF THE INSTITUTE IS TERMINATED FOR CAUSE. TRUSTEES WHO ARE NOT MEMBERS OF THE CORPORATION, BUT WHO ARE RE-ELECTED FOR A SECOND TERM AS TRUSTEE, SHALL AUTOMATICALLY THEREBY BECOME MEMBERS OF THE CORPORATION AND SHALL RETAIN THAT STATUS WHILE SERVING AS TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS RESERVE TO THEMSELVES THE POWER TO ELECT THE TRUSTEES; TO ELECT THE SECRETARY OF THE CORPORATION AND TO FILL VACANCIES IN THAT POSITION; AND TO ELECT THE STANDING COMMITTEE OF THE MEMBERS OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED IN CONJUNCTION WITH AN INDEPENDENT ACCOUNTING FIRM AND REVIEWED BY THE ASSISTANT COMPTROLLER AND VP FINANCE. A FINAL DRAFT IS DISTRIBUTED TO THE TRUSTEES FOR QUESTIONS AND COMMENTS APPROXIMATELY TWO WEEKS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS AND TRUSTEES COMPLETE AN ANNUAL CONFLICT OF INTEREST FORM. THE VP FINANCE KEEPS THIS AND FORWARDS TO RESPONSIBLE PERSONS ANY INDICATED POTENTIAL CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 DIRECTOR OF HUMAN RESOURCES FROM TIME TO TIME PROVIDES MARKET DATA TO THE COMPENSATION COMMITTEE. DELIBERATION AND DECISION BY THE BOARD OF TRUSTEES REGARDING COMPENSATION ADJUSTMENTS FOR EXECUTIVES ARE BASED ON PERFORMANCE EVALUATIONS AND MARKET DATA. THESE DECISIONS ARE RECORDED IN THE OFFICIAL MINUTES OF ITS MEETING. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTING FEES: PROGRAM SERVICE EXPENSES 520,851. MANAGEMENT AND GENERAL EXPENSES 14,534. FUNDRAISING EXPENSES 388,966. TOTAL EXPENSES 924,351. FORM 990, PART XI, LINE 9: NET INCOME OF SUBSIDIARY 468,027. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 2,862,157. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. 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