2021-11-15T19:12:14-06:00 2020-12-31 221478099 COHNREZNICK LLP 7501 WISCONSIN AVENUE SUITE 400E BETHESDA MD 20814 990 2020-01-01 521640938 THE HENRY L STIMSON CENTER HENR 2022235956 1211 CONNECTICUT AVE NW 8TH FLOOR WASHINGTON DC 20036 BRIAN FINLAY PRESIDENT & CEO 2022235956 2021-11-15 1 BRIAN FINLAY 999009999 LORI ROTHE YOKOBOSKY CPA P01273422 3016529100 2021-11-15 2 AAL1 IAL1 2020 2022-09-23 18:48:47Z BRIAN FINLAY 1211 CONNECTICUT AVE NW 8TH FLOOR WASHINGTON DC 20036 10313157 0 X WWW.STIMSON.ORG X 1989 DC SEE SCHEDULE O 24 24 84 49 0 0 7157097 8290594 30039 9756 14800 32837 88962 44098 7290898 8377285 0 0 0 0 5526694 6147893 0 0 211005 3884344 3766455 9411038 9914348 -2120140 -1537063 6044584 5749516 1733313 2970745 4311271 2778771 X SEE SCHEDULE O 0 0 4252928 SEE SCHEDULE O 2094617 9756 SEE SCHEDULE O 1519911 SEE SCHEDULE O 457828 PRESERVING THE PLANET - FOCUSED ON PRAGMATIC STEPS TOWARD PRESERVING THE PLANET, THE CENTER PLACES A HIGH PRIORITY ON UNDERSTANDING AND STRENGTHENING THE CAPACITY OF THE INSTITUTIONS AND NETWORKS RESPONSIBLE FOR CARRYING OUT SECURITY POLICIES. THE CURRENT PROGRAMS SEEK THE INTERSECTION BETWEEN SECURITY, HOW HUMANS USE NATURAL RESOURCES, AND THE IMPACT OF THE CLIMATE CRISIS ON INTERNATIONAL SECURITY. 299293 SPECIAL PROJECTS 757121 8624577 1 1 0 0 0 0 0 1 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 83 0 1 84 1 0 0 0 0 0 0 0 0 0 0 0 0 X 24 24 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 0 0 0 X X OKSANA BELLAS 2024783428 1211 CONNECTICUT AVE NW 8TH FL WASHINGTON DC 20036 ALICE MARONI BOARD MEMBER 0.50 X 0 0 0 ANDREA KOPPEL BOARD MEMBER 0.50 X 0 0 0 BARRY BLECHMAN BOARD MEMBER 0.50 X 0 0 0 BOWMAN CUTTER BOARD MEMBER 0.50 X 0 0 0 BRETT B LAMBERT BOARD MEMBER 0.50 X 0 0 0 CARLOS DEL TORO BOARD MEMBER 0.50 X 0 0 0 DAVID LANE BOARD CHAIR 1.00 X 0 0 0 FRANCIS HOANG BOARD MEMBER 0.50 X 0 0 0 FRED WHITRIDGE BOARD MEMBER 0.50 X 0 0 0 GARY GREGG BOARD MEMBER 0.50 X 0 0 0 JOHN BELLINGER BOARD MEMBER 0.50 X 0 0 0 JOHN PARACHINI BOARD MEMBER 0.50 X 0 0 0 KENNETH BRILL BOARD MEMBER 1.00 X 0 0 0 KRIS BALDERSON BOARD MEMBER 0.50 X 0 0 0 LANSE CRANE BOARD MEMBER 0.50 X 0 0 0 LESLIE IRELAND BOARD MEMBER 0.50 X 0 0 0 LORI FISLER DAMROSCH BOARD MEMBER 0.50 X 0 0 0 MARY SPIESER BOARD MEMBER 1.00 X 0 0 0 MICHELLE HOWARD BOARD MEMBER 0.50 X 0 0 0 NICOLE PIASECKI BOARD MEMBER 0.50 X 0 0 0 RICHARD MORRISSEY BOARD MEMBER 0.50 X 0 0 0 ROBERT GALLUCI BOARD MEMBER 0.50 X 0 0 0 SUSAN CHODAKEWITZ BOARD MEMBER 0.50 X 0 0 0 WILLIAM COLLATOS BOARD MEMBER 0.50 X 0 0 0 ZACK PORTER BOARD MEMBER 0.50 X 0 0 0 BRIAN FINLAY PRESIDENT & CEO 40.00 X 253123 0 33690 OKSANA BELLAS DIRECTOR OF HR AND ADMINISTRATION 40.00 X 107314 0 19564 RACHEL STOHL VICE PRESIDENT & SENIOR FELLOW 40.00 X 157427 0 22210 TIA JEFFRESS DIRECTOR OF FINANCE 40.00 X 53230 0 6113 VICTORIA HOLT VICE PRESIDENT & SENIOR FELLOW 30.00 X 124818 0 6567 CINDY VESTERGAARD SENIOR FELLOW 40.00 X 147859 0 14775 JOEL WIT SENIOR FELLOW 40.00 X 170047 0 15640 RICHARD PONZIO SENIOR FELLOW 40.00 X 139205 0 17789 SALLY YOZELL SENIOR FELLOW 40.00 X 152090 0 8258 SAMEER LALWANI SENIOR FELLOW 40.00 X 145955 0 7722 1451068 0 152328 14 0 1 0 COMMUNITY IT INNOVATORS INC PO BOX 220278 CHANTILLY VA 20153 NETWORK MANAGEMENT 175643 BLUERASTER LLC 2200 WILSON BLVD STE 400 ARLINGTON VA 22201 EXPERTS ON MAPPING SOLUTIONS AND DATA AN 131410 MARLA KEENAN CONSULTING LLC 502 CLOVER COURT AUSTIN TX 78745 EXPERT CONSULTANT 106238 3 4730522 3560072 8290594 ADMINISTRATIVE SERVICES 531110 9756 9756 9756 12048 12048 24770 0 24770 24770 24770 1956661 1935872 20789 20789 20789 OTHER OPERATING REVENUE 900099 19328 19328 19328 8377285 9756 0 76935 X 784056 681564 80956 21536 4103282 3565468 425024 112790 181706 158455 18289 4962 677280 590614 68169 18497 401569 350183 40419 10967 2235 1662 527 46 11301 1391 9910 132750 40975 90899 876 1520405 1512676 7729 618547 557938 53069 7540 166764 126037 37116 3611 838963 608297 208798 21868 133579 132165 1358 56 68144 56827 10405 912 136221 103538 29795 2888 31158 26893 3353 912 EQUIPMENT/SOFTWARE 79606 46052 30010 3544 INTERNS/VISITING FELLOW 26416 20226 6190 MISC. EXPENSES 366 0 366 ALLOCATION OF SHARED PR 0 43616 -43616 9914348 8624577 1078766 211005 1294555 3067117 2582462 741029 579886 436946 157086 124013 1747708 1160537 715283 587171 681894 767931 8785 676 24633 24633 6044584 5749516 429687 500089 269010 673589 1034616 1797067 1733313 2970745 X 120430 147324 4190841 2631447 4311271 2778771 6044584 5749516 X -1537063 42682 -38119 X X 0 1 X 1 1 1 X 5802939 5576322 10298657 7157097 8290594 37125609 5802939 5576322 10298657 7157097 8290594 37125609 9436427 27689182 248713 231066 193442 97133 36818 807172 10779 21415 35410 7165 19328 94097 38026878 204109 0.72810 0.66770 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: OTHER OPERATING REVENUE - 2016 AMOUNT: $ 10,779. 2017 AMOUNT: $ 21,415. 2018 AMOUNT: $ 35,410. 2019 AMOUNT: $ 7,165. 2020 AMOUNT: $ 19,328. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 24633 X 0 1238875 681861 557014 508833 478676 30157 587171 DEPOSITS HELD IN ESCROW 7769 DEFERRED RENT 908449 PAYCHECK PROTECTION PROGRAM LOAN 880849 1797067 X 8600949 42682 180982 223664 8377285 0 8377285 10133449 180982 38119 219101 9914348 0 9914348 PART III, LINE 4: THE CENTER HAS A COLLECTION OF ARTWORK PRINCIPALLY COMPRISED OF PAINTINGS. THE ARTWORK IS UTILIZED BY THE CENTER FOR OFFICE DECORATION, SERVING TO ENHANCE ITS FACILITIES FOR ITS PERSONNEL AND VISITORS. PART X, LINE 2: THE CENTER IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND HAS BEEN CLASSIFIED AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE CENTER'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THE CENTER HAS A POLICY IN PLACE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS. THE POLICY PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT PRINCIPLES FOR THE FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON A TAX RETURN THAT ARE NOT CERTAIN TO BE REALIZED. THE IMPLEMENTATION OF THIS POLICY HAD NO IMPACT ON THE CENTER'S FINANCIAL STATEMENTS. THE CENTER'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE AND LOCAL AUTHORITIES. THE TAX RETURNS FOR THE YEARS 2019 - 2017 ARE OPEN TO EXAMINATION BY FEDERAL, LOCAL AND STATE AUTHORITIES. PART XII, LINE 2D - OTHER ADJUSTMENTS: FOREIGN CURRENCY LOSS 38,119. X 1 1 X X X 0 0 0 0 0 0 0 0 0 BRIAN FINLAY PRESIDENT & CEO 253123 0 0 0 0 0 12656 0 21034 0 286813 0 0 0 JOEL WIT SENIOR FELLOW 170047 0 0 0 0 0 8502 0 7138 0 185687 0 0 0 RACHEL STOHL VICE PRESIDENT & SENIOR FELLOW 157427 0 0 0 0 0 7871 0 14339 0 179637 0 0 0 CINDY VESTERGAARD SENIOR FELLOW 147859 0 0 0 0 0 7393 0 7382 0 162634 0 0 0 SALLY YOZELL SENIOR FELLOW 152090 0 0 0 0 0 7605 0 653 0 160348 0 0 0 RICHARD PONZIO SENIOR FELLOW 139205 0 0 0 0 0 6960 0 10829 0 156994 0 0 0 SAMEER LALWANI SENIOR FELLOW 145955 0 0 0 0 0 7298 0 424 0 153677 0 0 0 PART I, LINE 1A ALL STAFF ARE ELIGIBLE FOR REIMBURSEMENT OF UP TO 70% OF THE FIRST $80 OF MONTHLY WELLNESS RELATED ACTIVITIES. FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: THE STIMSON CENTER PROMOTES INTERNATIONAL SECURITY, SHARED PROSPERITY & JUSTICE THROUGH APPLIED RESEARCH AND INDEPENDENT ANALYSIS, DEEP ENGAGEMENT, AND POLICY INNOVATION. FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: THE STIMSON CENTER PROMOTES INTERNATIONAL SECURITY, SHARED PROSPERITY & JUSTICE THROUGH APPLIED RESEARCH AND INDEPENDENT ANALYSIS, DEEP ENGAGEMENT, AND POLICY INNOVATION. FOR THREE DECADES, STIMSON HAS BEEN A LEADING VOICE ON URGENT GLOBAL ISSUES. FOUNDED IN THE TWILIGHT YEARS OF THE COLD WAR, THE STIMSON CENTER PIONEERED PRACTICAL NEW STEPS TOWARD STABILITY AND SECURITY IN AN UNCERTAIN WORLD. TODAY, AS CHANGES IN POWER AND TECHNOLOGY USHER IN A CHALLENGING NEW ERA, STIMSON IS AT THE FOREFRONT: ENGAGING NEW VOICES, GENERATING INNOVATIVE IDEAS AND ANALYSIS, AND BUILDING SOLUTIONS TO PROMOTE INTERNATIONAL SECURITY, PROSPERITY, AND JUSTICE. CONNECT WITH THE PROBLEM. STIMSON MATCHES ACADEMIC RIGOR WITH PRACTICAL EXPERIENCE, ON-THE-GROUND FIELD RESEARCH, AND ENGAGEMENT WITH NEW PERSPECTIVES AND UNCOMMON CONSTITUENCIES. TECHNOLOGY HAS EMPOWERED COUNTLESS NEW ACTORS WHO ARE ESSENTIAL TO TACKLING TODAY'S TRANSNATIONAL THREATS. FROM MOZAMBIQUE TO MYANMAR, SAIGON TO STOCKHOLM, AND COUNTLESS PLACES IN BETWEEN, STIMSON RESEARCHERS ARE DEEPLY ENGAGED WITH PEOPLE AND PROBLEMS AROUND THE WORLD. GENERATE NEW IDEAS. STIMSON RESEARCH PROGRAMS ARE AT THE FOREFRONT OF POLICY INNOVATION AND ARE STRONGLY COMMITTED TO EXCELLENCE AND INDEPENDENCE. OUR POLICY PROPOSALS AND ANALYSES ARE GROUNDED IN THE REAL WORLD, INFORMED BY EXPERIENCE, USED BY POLICYMAKERS, AND REFLECT OUR VALUES. STIMSON'S GLOBAL REACH AND LOCAL NETWORKS KEEP US IN TOUCH WITH THE RAPIDLY CHANGING INTERNATIONAL ENVIRONMENT. BUILD SOLUTIONS. OFTEN, UNDERSTANDING A PROBLEM AND MAKING RECOMMENDATIONS IS NOT ENOUGH. THAT IS WHY STIMSON TURNS GOOD IDEAS INTO REALITY BY FIELD-TESTING PROPOSALS AND SUPPORTING IMPLEMENTATIONS IN THE REAL WORLD. WE APPLY OUR RESEARCH IN NUMEROUS WAYS, FROM BUILDING TOOLS, PROTOTYPING NEW TECHNOLOGIES, AND CREATING DATASETS, TO WORKING WITH LOCAL LEADERS AND TRAINING GOVERNMENT OFFICIALS. RESEARCH AREAS STIMSON ORGANIZES ITS WORK IN CROSS-PROGRAM RESEARCH AREAS: NONPROLIFERATION. THE SECURITY, SAFEGUARDS, LAWS, REGULATORY FRAMEWORKS, AND INTERNATIONAL LAW AND PRACTICE DESIGNED TO REDUCE THE RISK OF WEAPONIZED USE OF CBRN MATERIALS. TECHNOLOGY & TRADE. THE RULES AND TOOLS THAT REGULATE THE USE, CONTROL, AND TRADE OF TECHNOLOGIES AS WELL AS THE USE OF TECHNOLOGY TO INCREASE SECURITY, PROSPERITY, AND JUSTICE. RESOURCES & CLIMATE. THE INTERSECTION BETWEEN SECURITY, HOW HUMANS USE NATURAL RESOURCES, AND THE IMPACT OF THE CLIMATE CRISIS ON INTERNATIONAL SECURITY. INTERNATIONAL ORDER & CONFLICT. THE NORMS, LAWS, AND INSTITUTIONS THAT SHAPE HOW STATES TREAT EACH OTHER, NONSTATE ACTORS, AND HUMAN BEINGS IN PEACE AND CONFLICT. ASIA. RESEARCH AND ANALYSIS ON THE COUNTRIES OF THE INDO-PACIFIC. US FOREIGN POLICY. THE ROLE AND PURPOSE OF AMERICAN POWER AND VALUES IN THE WORLD. FORM 990, PART III, LINE 4A, PROGRAM SERVICE ACCOMPLISHMENTS: GRAND STRATEGY IN PIVOTAL PLACES - THE CENTER'S GRAND STRATEGY IN PIVOTAL PLACES PROGRAMS FOCUS ON THE SECURITY CHALLENGES CONFRONTING ASIA. COMBINING THE EXPERTISE OF REGIONAL SPECIALISTS AND FUNCTIONAL EXPERTS, THE RESEARCH AGENDA SPANS THE COUNTRIES OF THE INDO-PACIFIC. EXAMINING SECURITY IN ALL ITS DIMENSIONS, FROM STRATEGIC ISSUES TO MANAGING SECURITY AT THE NATIONAL LEVEL, THE PROGRAMS ALSO CONSIDER HUMAN SECURITY ISSUES THAT HAVE IMPORTANT IMPLICATIONS FOR POLITICAL STABILITY. THE CENTER ANALYSIS ALSO EXAMINES U.S. POLICIES IN THE REGION, THE POLICIES OF THE STATES IN THE AREA, AS WELL AS NONGOVERNMENTAL ORGANIZATION ("NGO") PERSPECTIVES AND THE VIEWS OF OTHER OUTSIDE ACTORS. PROJECT ACTIVITIES INCLUDE WORKSHOPS, FIELD RESEARCH, ANALYSIS, CONFERENCES, AND PUBLICATIONS. FORM 990, PART III, LINE 4B, PROGRAM SERVICE ACCOMPLISHMENTS: PROMOTING SECURITY AND PROSPERITY - FROM THE PROLIFERATION OF WEAPONS OF MASS DESTRUCTION AND ILLICIT TRAFFICKING, TO TERRORISM, COUNTERFEIT INTELLECTUAL PROPERTY, AND ENVIRONMENTAL CRIME - PROMOTING SECURITY AND PROSPERITY AIMS TO MITIGATE THE ACTIONS THAT THREATEN GEOSTRATEGIC STABILITY, PEOPLE, AND SOCIO-ECONOMIC DEVELOPMENT WORLDWIDE. THE CENTER DEVELOPS INNOVATIVE GOVERNMENT RESPONSES AT THE NATIONAL, REGIONAL, AND INTERNATIONAL LEVELS, AND ACCELERATES PUBLIC-PRIVATE PARTNERSHIPS TO MITIGATE THESE THREATS. THE CENTER'S WORK IN THIS AREA EXPLORES THE SECURITY, SAFEGUARDS, LAWS, REGULATORY FRAMEWORKS, AND INTERNATIONAL LAWS AND PRACTICES DESIGNED TO REDUCE THE RISK OF WEAPONIZED USE OF CHEMICAL, BIOLOGICAL, RADIOLOGICAL, AND NUCLEAR ("CBRN") MATERIALS; AND THE RULES AND TOOLS THAT REGULATE THE USE, CONTROL, AND TRADE OF TECHNOLOGIES AS WELL AS THE USE OF TECHNOLOGY TO INCREASE SECURITY, PROSPERITY, AND JUSTICE. THROUGH ITS ENGAGEMENT WITH VARIOUS STAKEHOLDERS, THE CENTER WORKS TO IDENTIFY THE ROOTS OF THREATS TO PEACE AND SECURITY AND PUT FORWARD INNOVATIVE AND NETWORKED SOLUTIONS. FORM 990, PART III, LINE 4C, PROGRAM SERVICE ACCOMPLISHMENTS: PROTECTING PEOPLE - FOCUSED ON PRAGMATIC STEPS TOWARD PROTECTING PEOPLE, THE CENTER PLACES A HIGH PRIORITY ON UNDERSTANDING AND STRENGTHENING THE CAPACITY OF THE INSTITUTIONS AND NETWORKS RESPONSIBLE FOR CARRYING OUT SECURITY POLICIES. CURRENT PROGRAMS EVALUATE AND SEEK TO ENHANCE THE NORMS, LAWS, AND INSTITUTIONS THAT SHAPE HOW STATES TREAT EACH OTHER, NON-STATE ACTORS, AND HUMAN BEINGS IN PEACE AND CONFLICT. FORM 990, PART VI, SECTION A, LINE 1 THE EXECUTIVE COMMITTEE OF THE BOARD IS AUTHORIZED TO EXERCISE POWERS OF THE BOARD OF DIRECTORS THAT ARISE BETWEEN REGULARLY SCHEDULED BOARD MEETINGS OR WHEN IT IS NOT PRACTICAL OR FEASIBLE FOR THE BOARD TO MEET. THE EXECUTIVE COMMITTEE PRESENTS ALL OF ITS ACTIVITIES TO THE BOARD OF DIRECTORS FOR RATIFICATION AT THE NEXT MEETING OF THE BOARD. THE EXECUTIVE COMMITTEE CONSISTS ENTIRELY OF VOTING MEMBERS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE DIRECTOR OF FINANCE & ADMINISTRATION REVIEWS THE 990 IN DETAIL FOR ACCURACY AND COMPLETENESS. THE DRAFT RETURN IS REVIEWED WITH AND APPROVED BY THE FULL BOARD. THE FINAL RETURN IS DISTRIBUTED TO THE FULL BOARD PRIOR TO SUBMISSION TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE ORGANIZATION'S POLICY AND PRACTICES FOR MONITORING PROPOSED AND/OR PERCEIVED CONFLICTS OF INTEREST ARE DETAILED IN THE ORGANIZATION'S CONFLICT OF INTEREST POLICY WHICH IS DISTRIBUTED TO ALL STAFF MEMBERS UPON HIRE AND NEW BOARD MEMBERS UPON APPOINTMENT. ALL STAFF AND THE BOARD ARE COVERED UNDER THIS POLICY AND POTENTIAL CONFLICTS OF INTEREST ARE REVIEWED BY THE CEO, OR, IF IT IS IN RELATION TO THE CEO, REVIEWED BY AN APPROPRIATE MEMBER OF THE BOARD EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 THE PERFORMANCE OF KEY EMPLOYEES IS REVIEWED BY THEIR IMMEDIATE SUPERVISOR. PAY ADJUSTMENTS TYPICALLY INCLUDE A COLA WHICH FOLLOWS THE US GOVERNMENT COLA RATE FOR THE YEAR AND A VARIABLE MERIT AWARD. THE PERCENTAGE INCREASE FOR MERIT AWARD IS DETERMINED BY THE FINANCIAL POSITION OF THE ORGANIZATION AND TRENDS IN THE INDUSTRY. THE DIRECTOR OF FINANCE & ADMINISTRATION MAKES COMPENSATION RATE RECOMMENDATIONS TO THE PRESIDENT & CEO BASED ON THE FACTORS ABOVE, EQUITY AND MARKET COMPETITIVENESS. THE PRESIDENT & CEO APPROVES ALL SALARY ADJUSTMENTS. THE CEO'S COMPENSATION IS SET BY THE BOARD OF DIRECTORS, BASED ON THE FINANCIAL POSITION OF THE ORGANIZATION AND BY COMPARING THE CENTER'S COMPENSATION RATE TO THE COMPETITOR CHIEF EXECUTIVE RATES AS AGGREGATED IN THIRD PARTY SALARY SURVEY STUDIES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE NOT MADE AVAILABLE TO THE PUBLIC. THE CONFLICT OF INTEREST POLICY IS AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART IX, LINE 11G CONSULTING: PROGRAM SERVICE EXPENSES 1,512,676. MANAGEMENT AND GENERAL EXPENSES 7,729. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,520,405. FORM 990, PART XI, LINE 9: FOREIGN CURRENCY TRANSACTION LOSS -38,119. 23 THERE HAS NOT BEEN A CHANGE TO THE OVERSIGHT PROCESS OR SELECTION PROCESS DURING THE TAX YEAR.