2017-11-07T08:42:52-06:00 2016-12-31 410746749 CLIFTONLARSONALLEN LLP 901 N GLEBE ROAD SUITE 200 ARLINGTON VA 22203 990 2016-01-01 521289843 INSTITUTE OF INTERNATIONAL FINANCE INC INST 2028573600 1333 H STREET NW NO 800E WASHINGTON DC 200054770 TIMOTHY D ADAMS PRESIDENT & CHIEF EXECUTIVE OFFICER 2028573600 2017-11-07 1 DAVID TRIMNER CPA P00444822 5712279500 67.137.57.251 2017-11-07 09:31:30 ES P 2D48174497B8561072E410FAE5121FC267D16F25 25CC0C8A125FF8BFCBFF843AF5020A9389A947B4 2016 2018-03-14 21:41:22Z TIMOTHY D ADAMS 1333 H STREET NW NO 800E WASHINGTON DC 200054770 37091873 0 X WWW.IIF.COM X 1982 DC TO SUPPORT FINANCIAL INDUSTRY IN PRUDENTLY MANAGING RISKS AND FOSTER GLOBAL FINANCIAL STABILITY. 38 37 114 43 0 0 0 0 34598499 34992750 260928 317652 18741 12210 34878168 35322612 0 0 0 0 22802518 22544136 0 0 0 11292045 12261970 34094563 34806106 783605 516506 40364427 42233555 17024833 19023758 23339594 23209797 X TO SUPPORT THE FINANCIAL INDUSTRY IN PRUDENTLY MANAGING RISKS, INCLUDING SOVEREIGN RISK; IN DEVELOPING SOUND PRACTICES AND STANDARDS; AND IN ADVOCATING REGULATORY, FINANCIAL, AND ECONOMIC POLICIES THAT ARE IN THE BROAD INTEREST OF OUR MEMBERS AND FOSTER GLOBAL FINANCIAL STABILITY. 0 0 ECONOMIC AND FINANCIAL ANALYSIS: THE INSTITUTE OF INTERNATIONAL FINANCE, INC. (IIF) PROVIDES ITS MEMBERS WITH HIGH-QUALITY, TIMELY, AND IMPARTIAL ANALYSIS AND RESEARCH ON GLOBAL FINANCIAL AND ECONOMIC DEVELOPMENTS AND OTHER CENTRAL ISSUES IN GLOBAL FINANCE. IN 2016, WE PUBLISHED SEVERAL HUNDRED RESEARCH REPORTS INCLUDING RESEARCH NOTES, WEEKLY INSIGHTS, CAPITAL FLOWS REPORTS, GLOBAL ECONOMIC MONITORS, CAPITAL MARKET MONITORS, CHARTBOOK UPDATES, EMERGING MARKET LENDING SURVEYS, EMERGING MARKET PORTFOLIO FLOWS TRACKERS, AND EMERGING MARKET GROWTH TRACKER REPORTS. TWO POLITICAL SURPRISES, THE VOTE FOR BREXIT IN THE UK AND DONALD TRUMP'S PRESIDENTIAL WIN IN THE US, LED TO MAJOR EFFORTS TO UNDERSTAND THE POLICY OUTLOOK AND THE PROFOUND CONSEQUENCES FOR FINANCIAL MARKETS AND THE GLOBAL ECONOMY. WE HAVE ALSO CONTINUED TO EXTEND OUR MONITORING AND ANALYSIS OF EM CAPITAL FLOWS, OUR FLAGSHIP PRODUCT, INCLUDING INVESTIGATING THE SOURCES AND CONSEQUENCES OF THE MAJOR REVERSAL OF CHINA'S CAPITAL FLOWS. OUR CAPITAL MARKETS TEAM COVERED SEVERAL MAJOR THEMES IN THEIR RESEARCH PRODUCTS AND WORKING GROUPS, INCLUDING: THE SPIKE IN RISK AVERSION; THE RAPID RISE IN EM CORPORATE DEBT, AND THE CONSEQUENCES OF NEGATIVE INTEREST RATES. WE ALSO STEPPED UP COVERAGE OF FRONTIER MARKETS IN 2016, WITH REPORTS ON FRONTIER ASIA AND FRONTIER AFRICA, AS WELL AS A LONDON CONFERENCE IN JUNE AND A FRONTIER MARKETS DAY ALONGSIDE THE ANNUAL MEMBERSHIP MEETING (AMM). WE ALSO LAUNCHED TWO NEW WORKING GROUPS, ONE ON GREEN FINANCE AND ONE ON INFRASTRUCTURE. IN ADDITION TO THESE REPORTS, IIF ECONOMISTS PROVIDE ECONOMIC BRIEFINGS IN A VARIETY OF GLOBAL AND REGIONAL VENUES. EVENTS AND TRAINING PROGRAMS: THE INSTITUTE PROVIDES A WIDE RANGE OF OPPORTUNITIES, IN PERSON AND VIA CONFERENCE CALLS, FOR MEMBERS AND POLICYMAKERS TO GATHER AND DISCUSS ISSUES OF COMMON INTEREST AND CONCERN ON GLOBAL AND REGIONAL FINANCIAL AND ECONOMIC ISSUES. WE ORGANIZED 108 DISCREET EVENTS ACROSS THE WORLD IN 2016 INCLUDING GLOBAL EVENTS LIKE OUR G20 MEETING IN SHANGHAI, OUR SMM IN MADRID, AND OUR AMM IN WASHINGTON; A WIDE RANGE OF REGIONAL EVENTS, SUCH AS OUR REGIONAL CRO MEETINGS AND REGIONAL ECONOMIC FORA; AS WELL AS NUMEROUS SMALLER BUT EQUALLY CRITICAL MEETINGS, SEMINARS, AND COLLOQUIA. WE ATTRACTED SEVERAL THOUSAND PARTICIPANTS TO OUR EVENTS AND REGULARLY RECEIVE POSITIVE FEEDBACK FROM OUR MEMBERS ON OUR ABILITY TO BRING THEM TOGETHER WITH TOP ANALYSTS AND KEY PUBLIC SECTOR REPRESENTATIVES. GLOBAL FINANCIAL SERVICES REGULATION: THE IIF IS THE LEADING VOICE FOR THE FINANCIAL SERVICES INDUSTRY ON GLOBAL REGULATORY ISSUES. WE ENGAGE CONTINUOUSLY AND CONSTRUCTIVELY WITH GLOBAL STANDARD SETTERS AND POLICYMAKERS THROUGH FORMAL SUBMISSIONS AND REPORTS, AS WELL AS THROUGH REGULAR DIALOGUE AND HIGH-LEVEL SYMPOSIA. IN 2016 THE IIF CONTINUED TO SERVE AS A FORUM FOR DIALOGUE WITH THE FINANCIAL STABILITY BOARD (FSB), THE BASEL COMMITTEE ON BANKING SUPERVISION (BCBS), THE INTERNATIONAL ASSOCIATION OF INSURANCE SUPERVISORS (IAIS), AND THE INTERNATIONAL ORGANIZATION OF SECURITIES COMMISSIONS (IOSCO), AMONG OTHERS. THROUGH ITS COMMITTEES AND WORKING GROUPS MADE UP OF INDUSTRY REPRESENTATIVES AND IIF STAFF, THE IIF PROVIDES INDUSTRY RESPONSES TO CONSULTATIVE DOCUMENTS ISSUED BY THESE ORGANIZATIONS. THIS YEAR WE FOCUSED EXTENSIVELY ON ANALYZING THE IMPACT OF THE BASEL III REFORMS, INCLUDING LEADING THE ONLY GLOBAL INDUSTRY "SHADOW QIS, AND BOTH DEVELOPED AND ADVOCATED FOR REALISTIC ALTERNATIVE PROPOSALS TO SAFEGUARD RISK-SENSITIVITY AND AVOID UNDUE CAPITAL IMPACTS. WE MET WITH REGULATORS ACROSS ALL JURISDICTIONS TO EXPLAIN THESE INDUSTRY POSITIONS AND PARTICIPATED IN KEY EVENTS, INCLUDING THE INTERNATIONAL BANKING SUPERVISORS MEETING IN SANTIAGO IN DECEMBER. WE ALSO PRODUCED WORK ON THE IMPACT OF THESE COLLECTIVE BASEL PROPOSALS ON EMERGING MARKETS. REGARDING PRUDENTIAL CAPITAL, WE LED GLOBAL INDUSTRY DELEGATIONS IN MEETINGS WITH THE REGULATORY COMMUNITY IN THE AREAS OF THE STANDARDIZED APPROACH FOR CREDIT RISK, IRB ISSUES, OPERATIONAL RISK, AND THE NEW AREA OF STEP-IN RISK. WE ALSO CONTINUED TO FOCUS ON DE-RISKING AND ITS IMPLICATIONS, INCLUDING FSB/IMF INITIATIVES ON CORRESPONDENT BANKING AND AML/KYC RELATED POLICIES. THE INSURANCE PRACTICE RESPONDED TO CONSULTATIONS ON THE G-SII METHODOLOGY AND THE INTERNATIONAL CAPITAL STANDARD, ENGAGED WITH POLICYMAKERS, AND HOSTED KEY MEETINGS ON THE TRANSMISSION OF SYSTEMIC RISK, THE ACTIVITIES BASED APPROACH TO SYSTEMIC RISK ANALYSIS, AND RECOVERY AND RESOLUTION. REGARDING NON-BANK NON-INSURANCE, WE ADVOCATED STRONGLY FOR AN ACTIVITIES BASED APPROACH WITH APPROPRIATE MEASURES ONLY FOR THOSE ACTIVITIES PROVEN TO CONTRIBUTE TO SYSTEMIC RISK. WE PARTNERED WITH EY TO PRODUCE THE 9TH ANNUAL GLOBAL RISK MANAGEMENT SURVEY AND REPRESENTED THE INDUSTRY IN DIALOGUE WITH THE FSB AND BCBS ON GOVERNANCE AND CULTURE ISSUES. FINALLY, WE CONTINUED TO BE ACTIVE IN THE AREAS OF ACCOUNTING, DISCLOSURE (CLIMATE CHANGE), REGTECH, AND ASSESSING THE REGULATORY IMPACT OF POLITICAL DEVELOPMENTS. INNOVATIONS: TECHNOLOGY IS DRIVING RAPID TRANSFORMATION ACROSS THE FINANCIAL SERVICES INDUSTRY. THE IIF IS LEADING EFFORTS TO HELP THE FINANCIAL SERVICES INDUSTRY AND THE PUBLIC SECTOR UNDERSTAND TECHNOLOGY-DRIVEN TRENDS RESHAPING THE INDUSTRY. OUR INNOVATIONS TEAM WORKS TO EXPLORE THE IMPLICATIONS OF BLOCKCHAIN, ARTIFICIAL INTELLIGENCE AND MACHINE LEARNING, INCREASED AUTOMATION, THE RISE OF MOBILE, MARKETPLACE LENDING, AND OTHER TECHNOLOGIES FOR THE INDUSTRY AND REGULATORS. WE ARE ALSO HELP LEAD THE EFFORT TO SUPPORT "REGTECH," THE USE OF NEW TECHNOLOGIES TO MEET REGULATORY AND COMPLIANCE CHALLENGES MORE EFFECTIVELY AND EFFICIENTLY. OUR TECHNOLOGY EVENTS BRING TOGETHER SENIOR PUBLIC SECTOR OFFICIALS WITH INDUSTRY LEADERS AND LEADING TECHNOLOGY COMPANIES. OUR REGTECH WORKING GROUP, WHICH GREW TO 36 MEMBERS, RESPONDED TO A CALL FOR INPUT FROM THE UK'S FCA AND SUBSEQUENTLY PUBLISHED A REPORT ON REGTECH IN FINANCIAL SERVICES. DURING OUR SPRING MEMBERSHIP MEETING (SMM), WE HELD AN INNOVATION LAB THAT BROUGHT TOGETHER REPRESENTATIVES OF THE DIFFERENT SECTORS FOR A DISCUSSION OF USE CASES, CHALLENGES, AND WAYS TO PROMOTE REGTECH, AND LATER IN THE YEAR WE PARTNERED WITH THE MONETARY AUTHORITY OF SINGAPORE TO ORGANIZE A SUCCESSFUL REGTECH FORUM. IN ADDITION TO THESE EVENTS, INNOVATION WAS ALSO ONE OF THE KEY THEMES AT OUR MEMBERSHIP MEETINGS IN 2016, WITH PANELS ON ALTERNATIVE LENDING, BLOCKCHAIN TECHNOLOGY, MACHINE LEARNING/ARTIFICIAL INTELLIGENCE (AI), DATA POLICY, AND INNOVATION IN PAYMENTS, INSURANCE, AND REGULATION. WE ALSO HELD SEVERAL STANDALONE EVENTS ON INNOVATION THEMES, INCLUDING DISCUSSIONS ON BLOCKCHAIN TECHNOLOGY, A DISCUSSION OF THE IMPLICATIONS OF AI AND MACHINE LEARNING FOR THE FUTURE OF FINANCE, AND AN EVENT ON "AGILE REGULATION." WE PUBLISHED RESEARCH REPORTS ON PRESSING FINTECH TOPICS, INCLUDING MACHINE LEARNING/AI, SMART CONTRACTS, FINANCIAL INCLUSION, CHINESE INTERNET FINANCE, INNOVATION IN INSURANCE, INSURANCE INCLUSION, AND INNOVATION BY MID-SIZED BANKS. WE ALSO HOSTED THE SECOND ANNUAL LEADERS TRIP TO SILICON VALLEY IN JUNE, WHERE MEMBERS FROM THE FINTECH COMMITTEE HAD THE OPPORTUNITY TO MEET WITH LEADERS IN FINTECH, DATA, AND BLOCKCHAIN TECHNOLOGIES. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 34 0 114 1 0 1 CH SN 0 0 0 0 X 38 37 0 0 0 0 1 1 0 1 1 0 0 0 1 1 0 1 1 1 1 0 X BARRIE ORELLANA 2028573316 1333 H STREET NW SUITE 800E WASHINGTON DC 200054770 AXEL WEBER CHAIRMAN 2.00 X X 0 0 0 WALTER KIELHOLZ VICE CHAIRMAN 2.00 X X 0 0 0 BRIAN PORTER VICE CHAIRMAN AND TREASURER 2.00 X X 0 0 0 MARCUS WALLENBERG VICE CHAIRMAN AND TREASURER 2.00 X X 0 0 0 ALI AHMED AL-KUWARI BOARD DIRECTOR 2.00 X 0 0 0 ANA BOTIN BOARD DIRECTOR 2.00 X 0 0 0 ANDREAS TREICHL BOARD DIRECTOR 2.00 X 0 0 0 BEN KRUGER BOARD DIRECTOR 2.00 X 0 0 0 CHANDA KOCHHAR BOARD DIRECTOR 2.00 X 0 0 0 DANIEL PINTO BOARD DIRECTOR 2.00 X 0 0 0 DOUGLAS FLINT BOARD DIRECTOR 2.00 X 0 0 0 FEDERICO GHIZZONI BOARD DIRECTOR 2.00 X 0 0 0 FRANCISCO GONZALEZ BOARD DIRECTOR 2.00 X 0 0 0 FREDERIC OUDEA BOARD DIRECTOR 2.00 X 0 0 0 GARY COHN BOARD DIRECTOR 2.00 X 0 0 0 GERALD HASSELL BOARD DIRECTOR 2.00 X 0 0 0 GUOLI TIAN BOARD DIRECTOR 2.00 X 0 0 0 HUIMAN YI BOARD DIRECTOR 2.00 X 0 0 0 IAN NAREV BOARD DIRECTOR 2.00 X 0 0 0 JAMES GORMAN BOARD DIRECTOR 2.00 X 0 0 0 JEAN LEMIERRE BOARD DIRECTOR 2.00 X 0 0 0 JEAN PIERRE MUSTIER BOARD DIRECTOR 2.00 X 0 0 0 JIANQING JIANG BOARD DIRECTOR 2.00 X 0 0 0 JOHN CRYAN BOARD DIRECTOR 2.00 X 0 0 0 MARTIN BLESSING BOARD DIRECTOR 2.00 X 0 0 0 MARTIN GILBERT BOARD DIRECTOR 2.00 X 0 0 0 MARTIN ZIELKE BOARD DIRECTOR 2.00 X 0 0 0 MASAYUKI OKU BOARD DIRECTOR 2.00 X 0 0 0 MICHAEL CORBAT BOARD DIRECTOR 2.00 X 0 0 0 NOBUHIDE HAYASHI BOARD DIRECTOR 2.00 X 0 0 0 NOBUYUKI HIRANO BOARD DIRECTOR 2.00 X 0 0 0 OLIVER BATE BOARD DIRECTOR 2.00 X 0 0 0 PIYUSH GUPTA BOARD DIRECTOR 2.00 X 0 0 0 RALPH HAMERS BOARD DIRECTOR 2.00 X 0 0 0 ROBERTO SETUBAL BOARD DIRECTOR 2.00 X 0 0 0 SAEED AL-GHAMDI BOARD DIRECTOR 2.00 X 0 0 0 STEVEN KANDARIAN BOARD DIRECTOR 2.00 X 0 0 0 SUZAN SABANCI DINCER BOARD DIRECTOR 2.00 X 0 0 0 TOM DE SWAAN BOARD DIRECTOR 2.00 X 0 0 0 URS ROHNER BOARD DIRECTOR 2.00 X 0 0 0 WALTER BAYLY BOARD DIRECTOR 2.00 X 0 0 0 WILLIAM WINTERS BOARD DIRECTOR 2.00 X 0 0 0 YAHYA ALYHYA BOARD DIRECTOR 2.00 X 0 0 0 TIMOTHY D ADAMS PRESIDENT & CHIEF EXECUTIVE OFFICER 40.00 X X 2514663 0 53918 BARRIE ORELLANA SENIOR DIRECTOR OF FINANCE 40.00 0.01 X 524981 0 51418 HUNG TRAN EXECUTIVE MANAGING DIRECTOR 40.00 X 892139 0 29858 KRISTEN SILVERBERG GENERAL COUNSEL AND SENIOR ADVISOR 40.00 X 634291 0 57400 CHARLES COLLYNS MANAGING DIRECTOR & CHIEF ECON 40.00 X 674830 0 26500 ANDRES PORTILLA MANAGING DIRECTOR 40.00 X 722134 0 53831 BEJOY DAS GUPTA CHIEF ECONOMIST, ASIA PACIFIC 40.00 X 373234 0 53968 DAVID SCHRAA REGULATORY COUNSEL 40.00 X 685856 0 65672 MARTIN BOER DIRECTOR, REGULATORY AFFAIRS 40.00 X 399973 0 42569 SONJA GIBBS SENIOR DIRECTOR, GLOBAL CAPITAL MARKETS 40.00 X 510143 0 26849 7932244 0 461983 50 0 1 0 PRICEWATERHOUSECOOPER ADVISORY SERVICES POBOX 7247-8001 PHILADELPHIA PA 19170 CAPITAL ASSESSMENT 368132 1 MEMBERSHIP DUES 900099 31477091 31477091 SPONSORSHIP INCOME 900099 2205825 2205825 REGISTRATION FEE INCOME 900099 1235457 1235457 GOVERNMENT CONTRACTS 900099 74377 74377 34992750 291132 291132 1795781 1769261 26520 26520 26520 REIMBURSEMENT 900099 8278 8278 COPYRIGHT FEES 900099 1454 1454 OVERPAYMENT REFUND 900099 1329 1329 1149 1149 12210 35322612 34992750 0 329862 5459998 14297519 1054874 914154 817591 364799 163146 46679 483529 2174551 2132052 2472539 2576152 1123372 140276 SUBSCRIPTIONS & MEMBERS 426899 RECRUITMENT/RELOCATION 104341 TFB - TEMPORARY HOUSING 26803 STAFF TRAINING 22648 4184 34806106 -36595 192833 24729539 26280374 411472 610180 642998 1031150 9934994 5884953 4896256 4050041 9551786 9901471 168971 167506 40364427 42233555 2233591 1991072 9373240 12018019 5418002 5014667 17024833 19023758 X 23339594 23209797 23339594 23209797 40364427 42233555 X 516506 66749 -713052 X 0 1 X 1 0 4860457 2107590 2752867 2417205 1474687 942518 2657332 2302676 354656 4050041 DEFERRED RENT 5014667 5014667 X 35507070 66749 161243 227992 35279078 43534 43534 35322612 34923815 161243 161243 34762572 43534 43534 34806106 PART X, LINE 2: THE INSTITUTE OF INTERNATIONAL FINANCE, INC. (THE INSTITUTE) ADOPTED THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THE INSTITUTE EVALUATED ITS INCOME TAX POSITIONS AND DETERMINED THAT THEY ARE MORE-LIKELY-THAN-NOT TO BE SUSTAINED ON EXAMINATION. THE INSTITUTE'S TAX RETURNS ARE SUBJECT TO REVIEW AND EXAMINATION BY FEDERAL, STATE, AND LOCAL AUTHORITIES. EAST ASIA AND THE PACIFIC 2 5 PROGRAM SERVICES ECONOMIC ANALYSIS AND MEMBERSHIP DEVELOPMENT. 1868110 EUROPE (INCLUDING ICELAND & GREENLAND) 1 1 PROGRAM SERVICES ADVOCACY ON REGULATORY ISSUES AND MEMBERSHIP DEVELOPMENT. 1191913 MIDDLE EAST AND NORTH AFRICA 1 3 PROGRAM SERVICES ECONOMIC ANALYSIS AND MEMBERSHIP DEVELOPMENT. 924645 4 9 0 0 4 9 3984668 0 3984668 0 0 0 0 0 1 X X X X 0 0 0 TIMOTHY D ADAMS PRESIDENT & CHIEF EXECUTIVE OFFICER 1239980 0 1250000 0 24683 0 26500 0 27418 0 2568581 0 0 0 BARRIE ORELLANA SENIOR DIRECTOR OF FINANCE 276030 0 241017 0 7934 0 26500 0 24918 0 576399 0 0 0 HUNG TRAN EXECUTIVE MANAGING DIRECTOR 450894 0 430623 0 10622 0 26500 0 3358 0 921997 0 0 0 KRISTEN SILVERBERG GENERAL COUNSEL AND SENIOR ADVISOR 325707 0 306234 0 2350 0 26500 0 30900 0 691691 0 0 0 CHARLES COLLYNS MANAGING DIRECTOR & CHIEF ECON 412080 0 206040 0 56710 0 26500 0 0 0 701330 0 0 0 ANDRES PORTILLA MANAGING DIRECTOR 368220 0 340421 0 13493 0 26500 0 27331 0 775965 0 0 0 BEJOY DAS GUPTA CHIEF ECONOMIST, ASIA PACIFIC 271659 0 92971 0 8604 0 26500 0 27468 0 427202 0 0 0 DAVID SCHRAA REGULATORY COUNSEL 329322 0 296850 0 59684 0 26500 0 39172 0 751528 0 0 0 MARTIN BOER DIRECTOR, REGULATORY AFFAIRS 263149 0 133750 0 3074 0 26500 0 16069 0 442542 0 0 0 SONJA GIBBS SENIOR DIRECTOR, GLOBAL CAPITAL MARK 291268 0 218530 0 345 0 26500 0 349 0 536992 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IN THE INSITUTE SHALL BE OPEN TO ANY LENDING INSTITUTION, INVESTMENT BANK, MERCHANT BANK, INVETMENT FUND ENGAGED IN INTERNATIONAL FINANCIAL TRANSACTIONS, OR INSURANCE COMPANY. FORM 990, PART VI, SECTION A, LINE 7A FULL MEMBERS AND ASSOCIATE MEMBERS. FULL MEMBERS ELECT 30 OF THE INSTITUTE'S AUTHORIZED DIRECTORS AND THE BOARD OF DIRECTORS ELECT THE REMAINING 10 DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY THE OUTSIDE ACCOUNTING FIRM, REVIEWED BY THE SENIOR ACCOUNTING MANAGER, REVIEWED AND FINALIZED BY THE SENIOR DIRECTOR OF FINANCE, THEN REVIEWED AND SIGNED BY THE PRESIDENT AND CEO BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12 INSTITUTE OF INTERNATIONAL FINANCE, INC. (IIF) DOES NOT REGULARLY OR CONSISTENTLY MONITOR FOR ANY NON-COMPLIANCE WITH CONFLICT OF INTEREST POLICY. HOWEVER, IF NON-COMPLIANCE WAS IDENTIFIED, IIF WOULD CERTAINLY ENFORCE THE POLICY AND REQUIRE COMPLIANCE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF DIRECTORS HAS ESTABLISHED A SEPARATE COMPENSATION COMMITTEE WHICH REVIEWS THE COMPENSATION (BOTH BASE SALARY AND YEAR-END BONUS RANGE) OF THE ORGANIZATION'S CHIEF EXECUTIVE OFFICER (CEO) PRIOR TO THE ESTABLISHMENT OF AN EMPLOYMENT CONTRACT. THIS INCLUDES A REVIEW OF COMPARABILITY DATA. IN ADDITION, AT THE END OF EACH YEAR, THE COMMITTEE REVIEWS THE ACCOMPLISHMENTS OF THE CEO TO DETERMINE THE ACTUAL YEAR-END BONUS WITHIN THE RANGE ESTABLISHED BY THE CONTRACT. THE CEOS EMPLOYMENT CONTRACT BECAME EFFECTIVE JANUARY 2013 AND WAS RENEWED IN JUNE, 2015 WITH A NEW TERMINATION DATE OF DECEMBER 31, 2017. THE COMPENSATION COMMITTEE LAST MET IN DECEMBER 2015 TO REVIEW AND TO DETERMINE THE ACTUAL YEAR-END BONUS WITHIN THE RANGE ESTABLISHED BY THE CONTRACT. THE PRESIDENT AND CEO REVIEWS MARKET COMPENSATION DATA FOR KEY EMPLOYEES AS PROVIDED BY THE SENIOR DIRECTOR OF FINANCE AND ADMINISTRATION. THIS PROCESS LAST TOOK PLACE IN 2016 FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: SINGAPORE BEGINNING NET ASSETS -713,052. IIF ASIA PACIFIC LTD 50 RAFFLES PL 22-06 SINGAPORE LA SN 048623 A CENTRALIZED HUB FOR REGIONAL ACTIVITIES IN THE ASIA PACIFIC REGION SN 74805 330970 INSTITUTE OF INTERNATIONAL FINANCE INC