2020-06-30T13:17:33-05:00 2019-12-31 061009205 BLUM SHAPIRO & COMPANY PC 29 SOUTH MAIN STREET P O BOX 272000 WEST HARTFORD CT 061272000 990 2019-01-01 042121305 AMERICAN INSTITUTE FOR ECONOMIC RESEARCH AMER 4135281216 PO BOX 1000 GREAT BARRINGTON MA 01230 MICHELE M KEARNS VICE PRESIDENT, FINANCE 4135281216 2020-06-25 1 MARY KAY CURTISS P01551484 8605614000 2020-06-25 64.251.63.131 2020-06-25 10:16:28 ED P F655607A01BC9414CB150F5C2D5B642F4B7C09E6 B49528270D5C596423F272EFB472E66EFBF6AFC8 2019 2021-01-29 14:40:06Z MICHELE M KEARNS 250 DIVISION STREET GREAT BARRINGTON MA 01230 30730851 0 X 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. 10 10 42 45 16483 0 806095 575129 28904 70214 1272032 3686035 115696 18822 2222727 4350200 60500 127000 0 0 2568228 3519209 0 0 1185374 2501217 2782495 5129945 6428704 -2907218 -2078504 184901564 203380124 85497314 94382297 99404250 108997827 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 2289210 70214 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 2019, APPROXIMATELY 580,693 INDIVIDUALS, INSTITUTIONS AND PUBLISHERS RECEIVED THE REPORTS AND MORE THAN 2,104,806 READERS VISITED AIER'S WEBSITE. 2028053 127000 ACADEMIC PROGRAMS DURING 2019, AIER PROVIDED EDUCATIONAL OPPORTUNITIES FOR OVER 8,600 PARTICIPANTS/ATTENDEES. THROUGH OUR TEACH THE TEACHERS PROGRAM, 132 EDUCATORS SUCCESSFULLY COMPLETED COURSES DEALING WITH PRACTICAL ECONOMIC TOPICS WHICH THEY CAN USE FOR THEIR ESTIMATED 9,600 STUDENTS. THE BASTIAT SOCIETY AT AIER ORGANIZES AND HOSTS EDUCATION EVENTS FOR THE GENERAL BUSINESS COMMUNITY IN 35 CITIES AROUND THE WORLD. DURING THE YEAR, THIS PROGRAM HELD 160 EVENTS ATTRACTING OVER 5,600 PEOPLE. GIVEN THESE ATTENDEES' RELATIONSHIPS WITH EMPLOYEES, CUSTOMERS, VENDORS, ETC., THE BASTIAT SOCIETY PROGRAM'S POTENTIAL REACH WAS WELL OVER 9 MILLION 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 18 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 SIX ARTICLES TO AIER.ORG DURING 2019. 4317263 1 1 0 0 0 0 0 0 0 0 1 1 0 0 1 1 0 1 0 1 1 1 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 87 0 1 42 1 1 1 0 0 0 0 0 0 0 0 0 X 10 10 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 ND OH OK OR PA RI TN UT VA WA WV WI MO X X MICHELE M KEARNS VICE PRESIDENT 4135281216 250 DIVISION ST GREAT BARRINGTON MA 01230 GREGORY M VAN KIPNIS CHAIR 10.00 X 0 0 0 JEFF RAY CLARK TRUSTEE/SECRETARY 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 FURLANO TRUSTEE 5.00 X 0 0 0 DOUGLAS L HARWOOD TRUSTEE 5.00 X 0 0 0 KEITH A HOCTOR TRUSTEE 5.00 X 0 0 0 GERALD W LAMARSH TRUSTEE - TERM EXPIRED 10/19/2019 5.00 X 0 0 0 HENRY J MILLER III TRUSTEE 5.00 X 0 0 0 BENJAMIN W POWELL TRUSTEE 5.00 X 0 0 0 GERALD E SOHAN TRUSTEE 5.00 X 0 0 0 WILLIAM H SOUTHWICK TRUSTEE - RESIGNED 10/19/2019 5.00 X 0 0 0 ROBERT J VODICKA TRUSTEE - RESIGNED 11/19/2019 5.00 X 0 0 0 JOHN R SKAR SECRETARY - RESIGNED 1/20/2019 5.00 X 0 0 0 FREDRICK C HARWOOD INTERIM SECRETARY 5.00 X 0 0 0 EDWARD P STRINGHAM PRESIDENT & DIRECTOR OF RESEARCH & EDUCATION 40.00 X 250240 0 12168 MICHELE M KEARNS VICE PRESIDENT, FINANCE 40.00 X 157122 0 22075 JONATHAN E SYLBERT FORMER CHIEF OPER. OFFICER-1/7/2019 40.00 X 165600 0 864 JEFFREY ATUCKER EDITORIAL DIRECTOR 40.00 X 153296 0 25460 ROBERT J HUGHES SENIOR RESEARCH FELLOW 40.00 X 133715 0 770 BRADLEY J DEVOS DIRECTOR OF PROGAMS 40.00 X 125678 0 20781 TIMOTHY K ROGERS FORMER DEVELOPMENT DIR. - 9/27/2019 40.00 X 142524 0 10727 LISA M HAZLETT ROBERTS FORMER DIR OF STRAT. PART.-9/27/2019 40.00 X 123160 0 171 1251335 0 93016 10 0 1 0 BRUCE A FYFE 97 PIXLEY HILL ROAD HOUSATONIC MA 01236 GENERAL BUILDING CONTRACTOR 337606 PETER J DEL GRANDE PO BOX 541 HOUSATONIC MA 01236 CHEF 167805 EMERGENT ORDER LLC 3820 SOUTH CONGRESS AVE BLDG 2 AUSTIN TX 78704 MARKETING CONSULTING SERVICES 136399 AMERICAN PHILANTHROPIC LLC 119 N HIGH ST WEST CHESTER PA 19380 DEVELOPMENT CONSULTANT 114210 4 575129 10856 575129 SALES OF PUBLICATIONS 511120 70214 70214 70214 660531 660531 150550 239372 -88822 -88822 -44948 -43874 29166783 26141279 3025504 3025504 3025504 MANAGEMENT REVENUE 900099 61431 61431 REIMBURSE FACILITIES 900099 31039 31039 CHARITABLE REMAINDER I 900099 15174 15174 107644 4350200 70214 16483 3688374 X 33000 33000 94000 94000 608068 293611 235733 78724 2102654 1493589 181528 427537 142548 34742 94254 13552 458914 313318 76436 69160 207025 139201 29112 38712 11488 8792 2696 34360 34360 68903 68903 672328 470303 12218 189807 191910 83432 108478 162805 90221 17897 54687 199514 162138 10510 26866 353970 271008 25441 57521 283769 221383 29888 32498 119360 76359 43001 177916 140554 12454 24908 60084 27505 27958 4621 PUBLICATIONS 130540 130540 PUBLIC RELATIONS 118781 106903 11878 TRUSTEE REIMBURSEMENT 58828 58828 PERIODICALS AND SUBSCRI 23056 22301 755 114883 104363 7096 3424 6428704 4317263 926067 1185374 938 906 3356682 3293649 29643 18371 43468 64493 6651083 3532996 2601480 3118087 25970434 28155929 151486758 167016861 1412161 1711828 184901564 203380124 750862 547954 84746452 93834343 85497314 94382297 X 32663944 35815309 66740306 73182518 99404250 108997827 184901564 203380124 X -2078504 1555188 10116893 X X 0 1 X 1 0 X 843702 642392 1932985 806095 575129 4800303 843702 642392 1932985 806095 575129 4800303 1502871 3297432 692463 773466 878256 1193410 696655 4234250 97245 7720 1982 42739 31039 180725 9215278 224521 0.35780 0.34750 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS INCOME - 2015 AMOUNT: $ 97,245. 2016 AMOUNT: $ 7,720. 2017 AMOUNT: $ 1,982. 2018 AMOUNT: $ 42,739. 2019 AMOUNT: $ 31,039. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13946 13946 5346093 2441393 2904700 759604 644785 114819 531440 446818 84622 3118087 RESTRICTED TRUST ASSETS UNDER SPLIT INTEREST AGREEMENTS 167016861 F 167016861 LIABILITIES UNDER SPLIT INTEREST AGREEMENTS 91172133 SPLIT INTEREST TRUSTS DISTRIBUTIONS PAYABLE 2560462 INVESTMENT ADVISORY FEE PAYABLE 101748 93834343 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, 2019 AND 2018. 1 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTS AND FINANCIAL ASSISTANCE TO RECIPIENTS LOCATED IN THE REGION 90500 EAST ASIA AND THE PACIFIC 0 0 FINANCIAL ASSISTANCE TO RECIPIENTS LOCATED IN THE REGION 1500 MIDDLE EAST AND NORTH AFRICA 0 0 FINANCIAL ASSISTANCE TO RECIPIENTS LOCATED IN THE REGION 1000 NORTH AMERICA 0 0 FINANCIAL ASSISTANCE TO RECIPIENTS LOCATED IN THE REGION 1000 0 0 0 0 0 0 94000 0 94000 EUROPE (INCLUDING ICELAND & GREENLAND) CONTRIBUTION FOR ECONOMIC CONFERENCES 75000 WIRE TRANSFER 0 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 EAST ASIA 1 1500 ELECTRONIC FUND SCHOLARSHIPS - AIER EXTENDS FINANCIAL AID TO QUALIFIED STUDENTS OF ECONOMICS OR FINANCE TO ASSIST THEM IN THEIR GRADUATE LEVEL STUDIES AT THEIR REGULAR UNIVERSITIES EUROPE 11 15500 ELECTRONIC FUND SCHOLARSHIPS - AIER EXTENDS FINANCIAL AID TO QUALIFIED STUDENTS OF ECONOMICS OR FINANCE TO ASSIST THEM IN THEIR GRADUATE LEVEL STUDIES AT THEIR REGULAR UNIVERSITIES MIDDLE EAST 1 1000 ELECTRONIC FUND SCHOLARSHIPS - AIER EXTENDS FINANCIAL AID TO QUALIFIED STUDENTS OF ECONOMICS OR FINANCE TO ASSIST THEM IN THEIR GRADUATE LEVEL STUDIES AT THEIR REGULAR UNIVERSITIES NORTH AMERICAN 1 1000 ELECTRONIC FUND 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. 22 33000 N/A N/A PART I, LINE 2: NONE X X 1 0 X X X 1 0 0 0 0 0 0 1 0 EDWARD P STRINGHAM PRESIDENT & DIRECTOR OF RESEARCH & E 250240 0 0 0 0 0 10000 0 2168 0 262408 0 0 0 MICHELE M KEARNS VICE PRESIDENT, FINANCE 157122 0 0 0 0 0 6600 0 15475 0 179197 0 0 0 JONATHAN E SYLBERT FORMER CHIEF OPER. OFFICER-1/7/2019 21600 0 0 0 144000 0 864 0 0 0 166464 0 0 0 JEFFREY ATUCKER EDITORIAL DIRECTOR 149501 0 3795 0 0 0 6402 0 19058 0 178756 0 0 0 TIMOTHY K ROGERS FORMER DEVELOPMENT DIR. - 9/27/2019 110793 0 0 0 31731 0 4378 0 6349 0 153251 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 JONATHAN E. SYLBERT RECEIVED A SEVERANCE PAYMENT OF $144,000 WHICH WAS ONE YEAR'S WAGES PAID ON NORMAL SCHEDULE FOR GENERAL RELEASE. TIMOTHY K. ROGERS RECEIVED A SEVERANCE PAYMENT OF $31,731. THIS AMOUNT IS THREE MONTH'S WAGES PAID ON NORMAL SCHEDULE FOR GENERAL RELEASE. LISA M. HAZLETT ROBERTS RECEIVED A SEVERANCE PAYMENT OF $33,654. THIS AMOUNT IS THREE MONTH'S WAGES PAID ON NORMAL SCHEDULE FOR GENERAL RELEASE. PART I, LINE 7 DISCRETIONARY BONUS IS PAID TO ALL NON-OFFICER EMPLOYEES. FORM 990, PART VI, SECTION A, LINE 2 KATHERINE DELAY, FREDERICK HARWOOD 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. NO COMPENSATION ADJUSTMENTS WERE MADE FOR 2019. 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 470,303. MANAGEMENT AND GENERAL EXPENSES 12,218. FUNDRAISING EXPENSES 189,807. TOTAL EXPENSES 672,328. FORM 990, PART XI, LINE 9: CHANGE IN VALUE OF CHARITABLE GIFT ANNUITIES NET INCOME OF SUBSIDIARY 550,222. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 9,566,671. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. 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