2019-08-15T16:01:33-05:00 2019-03-31 582676261 Rogers & Company PLLC 8300 Boone Boulevard Suite 600 Vienna VA 22182 990 2018-04-01 136006960 Foundation for Economic Education Inc FOUN 4045549980 1819 Peachtree Road NE No 300 Atlanta GA 30309 Richard Lorenc Executive Vice President 4045549980 2019-08-15 1 Lori A Collingsworth P00639819 7038930300 2019-08-15 129.213.51.162 2019-08-15 17:00:29 ED P 5757F712A8161F6F3964D64EA127352BD3BB441C 4E34592AB1F6423AB9D06C25827E64500E8BEDD1 2018 2019-02-21 02:37:17Z Richard Lorenc 1819 Peachtree Road NE No 300 Atlanta GA 30309 4978788 0 X http://fee.org/ X 1946 NY To promote and educate in the principles of sound economics 13 13 32 0 412018 409818 4595730 4185267 106078 150661 97499 132092 433986 429469 5233293 4897489 0 0 0 0 2028157 2087791 85208 216378 910481 3174769 3639982 5288134 5944151 -54841 -1046662 9169055 8418485 982989 825937 8186066 7592548 The organization's mission is to educate students about the personal and social value of free-market economics, entrepreneurship, individual freedoms, self-responsibility, and high moral character in a free society. 0 0 2262824 150661 Seminars and Lectures - Promoting entrepreneurship, self-responsibility, and a general understanding of economics and sound public policy. 1894479 Website Outreach - Promoting the study of free-market economics and the philosophy of self-responsibility. 307322 18105 Books and Publications - The dissemination of the results of research and study in the field of economics and the related branches of the social sciences. 4464625 1 1 0 0 0 0 0 0 1 1 1 1 0 1 1 1 1 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 1 100 0 1 32 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY DC X X Richard Lorenc Executive VP 4045549980 1819 Peachtree Road NE No 300 Atlanta GA 30309 Roger R Ream Chair, Trustee 4.00 X X 0 0 0 Harry H Langenberg Vice-Chair, Trustee 1.00 X X 0 0 0 Frederic J Fransen Secretary, Trustee 1.00 X X 0 0 0 Dan Grossman Treasurer, Trustee 2.00 X X 0 0 0 Thomas Armstrong Jr Vice-Chair, Trustee 2.00 X X 0 0 0 Sarah Atkins Trustee 1.00 X 0 0 0 Harold Jay Bowen III Trustee 1.00 X 0 0 0 Ingrid A Gregg Trustee 1.00 X 0 0 0 Martin Gallun Trustee 1.00 X 0 0 0 Fred Reams Trustee 1.00 X 0 0 0 Chris Talley Trustee 1.00 X 0 0 0 John Westerfield Trustee 1.00 X 0 0 0 Michael Yashko Trustee 1.00 X 0 0 0 Wayne Olson Trustee 4.00 X 0 0 0 Lawrence W Reed President 40.00 X 184987 0 4000 Richard Lorenc Executive Vice President 40.00 X 150224 0 4000 Jason Riddle VP of Programs & Strategic Operations 40.00 X 105712 0 4000 David Veksler Director of Technology 40.00 X 147235 0 4000 588158 0 16000 4 0 1 0 Hyatt Regency Atlanta 265 Peachtree St NE Atlanta GA 30303 Event Services 312722 FG Tech LLC 88 Elmwood Dr Cheshire CT 06410 Software Development 225200 American Philanthropic LLC 119 N High St West Chester PA 19380 Fundraising Counsel 201624 The MAGNUM Companies Ltd 205 Armour Dr NE Atlanta GA 30324 Event AV 117185 4 4185267 27693 4185267 Student seminars 611710 150661 150661 150661 115852 115852 66932 66932 29953 13713 16240 16240 16240 18105 67586 -49481 -49481 S-Corporation net K-1 310000 412018 412018 412018 4897489 101180 412018 199024 X 386899 256345 43182 87372 1435640 951202 160230 324208 14897 9870 1662 3365 116219 77222 12677 26320 134136 88874 14970 30292 16629 16629 84634 84634 216378 216378 622155 515685 106470 184050 178585 1074 4391 568088 471854 41631 54603 98382 97340 771 271 220787 142654 29773 48360 273357 207789 11431 54137 1324257 1308961 8448 6848 105903 68955 13445 23503 28107 18623 3137 6347 UBI Taxes 90999 60293 10156 20550 Dues and subscriptions 15656 10373 1747 3536 Licenses and permits 6978 6978 5944151 4464625 569045 910481 270084 567440 416442 239332 150000 25000 130379 145893 55088 26860 934748 738758 235109 195990 5461037 4293074 1972000 2418000 478916 506896 9169055 8418485 333770 336520 470626 273199 171240 187427 7353 28791 982989 825937 X 6154836 5063605 475458 0 1555772 2528943 8186066 7592548 9169055 8418485 -1046662 453144 0 X X 0 1 X 1 0 X 2129414 3222381 3496994 4595730 4185267 17629786 2129414 3222381 3496994 4595730 4185267 17629786 2436759 15193027 95531 70605 135041 131739 182784 615700 303667 257175 389007 381542 410818 1742209 19987695 521851 0.76010 0.73820 X 0 1 X 1985119 185558 2170677 1746028 239091 1985119 1499880 246148 1746028 1485448 14432 1499880 1506686 -9191 12047 1485448 0.00000 1.00000 0.00000 0 0 49181 37471 11710 468221 357284 110937 417346 344003 73343 195990 20,000 Shares Metalcraft, Inc. 2418000 F 2418000 Bitcoin 9156 Security deposit 13034 Gold coins 28758 Donated artwork 1200 Beneficial interest in third-party trusts 79894 Assets held in charitable remainder trust 374854 506896 Income taxes payable 28791 28791 X 5681108 453144 262889 67586 783619 4897489 0 4897489 6274626 262889 67586 330475 5944151 0 5944151 Part IV, Line 2b: The Foundation is a trustee for a charitable remainder trust. The fair value of assets held by the trust is reported as an asset on the Foundation's balance sheet, and is offset by a liability representing amounts due to other beneficiary of charitable remainder trust. Part V, Line 4: The Foundation for Economic Education holds several long term investments received from contributions and grants specified by the donors to be used for endowments for scholarships and other program expenditures. Part X, Line 2: Management has evaluated the Foundation's tax positions and concluded that the Foundation's financial statements do not include any uncertain tax positions. Part XI, Line 2d - Other Adjustments: Cost of goods sold 67,586. Part XII, Line 2d - Other Adjustments: Cost of goods sold 67,586. X X X X 1 American Philanthropic 119 N High St West Chester PA 19380 Fundraising consultant 0 0 216378 -216378 216378 -216378 AL AK AZ AR CA CO CT DE FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY X X 0 0 0 0 0 0 0 0 0 Lawrence W Reed President 159167 0 25820 0 0 0 4000 0 0 0 188987 0 0 0 Richard Lorenc Executive Vice President 120224 0 30000 0 0 0 4000 0 0 0 154224 0 0 0 David Veksler Director of Technology 132735 0 14500 0 0 0 4000 0 0 0 151235 0 0 0 X 4 27693 Fair Market Value 0 0 0 Form 990, Part VI, Section B, line 11b A draft of the Federal Form 990 is provided to the organization for management review and approval. A complete copy is provided to the Governing Board prior to filing with the IRS. Form 990, Part VI, Section B, line 12c All FEE Trustees and executive officers are covered by a conflict of interest policy that is reviewed annually by the Board's Executive Committee, which determines conflicts. Section 4 of the policy details how to address persons with conflicts, as follows: a. An interested person may make a presentation at the Board or Executive Committee meeting, but after the presentation, he/she shall leave the meeting during the discussion of, and the vote on, the transaction or arrangement involving the possible conflict of interest. b. The Chairperson of the Board or Executive Committee shall, if appropriate, appoint a disinterested person or committee to investigate alternatives to the proposed transaction or arrangement. c. After exercising due diligence, the Board or Executive Committee shall determine whether FEE can obtain with reasonable efforts a more advantageous transaction or arrangement from a person or entity that would not give rise to a conflict of interest. d. If a more advantageous transaction or arrangement is not reasonably possible under circumstances not producing a conflict of interest, the Board or Executive Committee shall determine by a majority vote of the disinterested trustees whether the transaction or arrangement is in FEE's best interest, for its own benefit, and whether it is fair and reasonable. In conformity with the above determination, it shall make its decision as to whether to enter into the transaction or arrangement. Form 990, Part VI, Section B, line 15a The Organization's Performance and Compensation Committee establishes criteria for the evaluation of the President's performance, conducts a review of the President's performance for each fiscal year, and submits a recommendation to the Board of Trustees at the annual meeting with respect to the President's compensation. This is reviewed, deliberated and decided by the Board of Trustees. Form 990, Part VI, Section C, line 19 The organization makes its governing documents, Conflict of Interest Policy, and financial statements available to the public upon request. Form 990, Part IX, line 11g Other professional fees and contract services: Program service expenses 515,685. Management and general expenses 106,470. Fundraising expenses 0. Total expenses 622,155. Form 990, Part XII, Line 2c: The Organization's Board of Trustees is responsible for oversight of the audit, including selection of the independent accountant. The process has not changed from previous years. George A Warren Trust UA DTD 91169 Foundation for Economic Education 1819 Peachtree Road NE Suite 300 Atlanta GA 30309 046421546 Supporting Organization- See Part VII MA 501(c)(3) Line 12b, II 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 Schedule R, Part II, Column (b) Primary Activity To discover, develop and support students, scholars and other intellectuals who maintain the highest standards of academic and professional excellence.