2016-09-28T18:10:04-05:00 2015-12-31 410746749 CLIFTONLARSONALLEN LLP 4250 N FAIRFAX DRIVE SUITE 1020 ARLINGTON VA 22203 990 2015-01-01 521289843 INSTITUTE OF INTERNATIONAL FINANCE INC INST 2028573600 1333 H STREET NW NO 800E WASHINGTON DC 200054770 TIMOTHY D ADAMS PRESIDENT AND CEO 2028573600 2016-09-26 1 DAVID TRIMNER P00444822 5712279500 2015 2017-02-10 21:41:12Z TIMOTHY D ADAMS 1333 H STREET NW NO 800E WASHINGTON DC 200054770 34878168 0 X WWW.IIF.COM X 1982 DC TO SUPPORT THE FINANCIAL INDUSTRY IN PRUDENTLY MANAGING RISKS, INCLUDING SOVEREIGN RISK; IN DEVELOPING BEST 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. 39 38 115 38 0 0 38943 0 34610817 34598499 477209 260928 16276 18741 35143245 34878168 0 0 0 0 23980025 22802518 0 0 0 11330417 11292045 35310442 34094563 -167197 783605 44494427 40364427 21613488 17024833 22880939 23339594 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 ANALYSISTHE INSTITUTE 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 2015, WE PUBLISHED 164 RESEARCH NOTES, 47 WEEKLY INSIGHTS, 3 CAPITAL FLOWS REPORTS; 5 GLOBAL ECONOMIC MONITORS, 12 CAPITAL MARKET MONITORS, 11 CHARTBOOK UPDATES; 4 EMERGING MARKET LENDING SURVEYS; 10 EMERGING MARKET PORTFOLIO FLOWS TRACKERS, AND 12 EMERGING MARKET GROWTH TRACKER REPORTS. THE IIF ALSO PROVIDED ITS MEMBERS WITH GROUNDBREAKING ANALYSIS ON THE INCREASE IN EM LEVERAGE AND DEBT AT THE HOUSEHOLD, CORPORATE AND SOVEREIGN LEVELS AND PRESENTED FINDINGS AT CONFERENCES AND WITH KEY OFFICIALS. THIS EFFORT IS AN INTEGRAL PART OF OUR "SYSTEMIC RISK" WORK STREAM. IN ADDITION TO THESE REPORTS, IIF ECONOMISTS PROVIDE ECONOMIC BRIEFINGS IN A VARIETY OF GLOBAL AND REGIONAL VENUES. EVENTS AND TRAINING PROGRAMSTHE 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. IN 2015 THE GLOBAL ECONOMIC RECOVERY, CHANGES IN GLOBAL FINANCIAL REGULATION, THE IMPACT OF TECHNOLOGY ON THE FINANCIAL SERVICES INDUSTRY AND FINANCIAL INCLUSION WERE ALL TOPICAL ISSUES THAT FIGURED PROMINENTLY IN OUR EVENTS - WHICH TOTALED APPROXIMATELY 80, INCLUDING COMMITTEE AND WORKING GROUP MEETINGS - AND WHICH ALSO INCLUDED PRESENTATIONS ON THE FINANCIAL AND ECONOMIC OUTLOOK, DISCUSSIONS ON RISK MANAGEMENT, ANALYSIS OF THE RECOVERY, AND RECOMMENDATIONS FOR THE G20, AMONG OTHER THINGS. WE ATTRACTED OVER 4,500 PARTICIPANTS TO OUR EVENTS, INCLUDING: ISTANBUL (G20), JAKARTA (ASIA FINANCIAL SUMMIT), DOHA (SPRING MEMBERSHIP MEETING), NYC (US FINANCIAL SUMMIT), FRANKFURT (EUROPE FINANCIAL SUMMIT), JOHANNESBURG (AFRICA REGIONAL SUMMIT), LIMA (ANNUAL MEMBERSHIP MEETING), SINGAPORE (ECONOMIC ADVISORY COUNCIL) AND CAIRO (MENA ECONOMIC FORUM). WE ALSO HOSTED NUMEROUS SMALLER BUT EQUALLY CRITICAL MEETINGS AND SEMINARS, SUCH AS OUR CROSS-BORDER RESOLUTION COLLOQUIUM AND RWA/BASEL MEETING, BOTH HELD IN NEW YORK IN EARLY DECEMBER. CAPITAL MARKETS AND EMERGING MARKETS POLICYTHE IIF WORKS COOPERATIVELY WITH MULTILATERAL ORGANIZATIONS TO STRENGTHEN THE EFFICIENCY, TRANSPARENCY, STABILITY, AND COMPETITIVENESS OF THE GLOBAL FINANCIAL SYSTEM, WITH AN EMPHASIS ON VOLUNTARY, MARKET-BASED APPROACHES TO CRISIS PREVENTION AND MANAGEMENT, AND PROMOTES THE DEVELOPMENT OF SOUND FINANCIAL SYSTEMS, WITH AN EMPHASIS ON EMERGING MARKETS. THROUGHOUT 2015 THE INSTITUTE CONTINUED ITS ACTIVITIES THAT FOCUS ON CRISIS PREVENTION AND RESOLUTION. IN FEBRUARY THE IIF, IN PARTNERSHIP WITH THE TURKISH MINISTRY FOR ECONOMIC AND FINANCIAL AFFAIRS, HELD A HIGH-LEVEL CONFERENCE IN ISTANBUL AHEAD OF THE G20 MEETING OF FINANCE MINISTERS AND CENTRAL BANK GOVERNORS, FOCUSED ON THE 2015 G20 AGENDA. IN APRIL THE IIF HELD ITS ANNUAL ROUNDTABLE ON INTERNATIONAL CAPITAL MARKETS AND EMERGING MARKETS, BRINGING TOGETHER SENIOR PUBLIC OFFICIALS AND INDUSTRY LEADERS FROM BOTH MATURE AND EMERGING MARKET ECONOMIES TO DISCUSS GLOBAL POLICY ISSUES AND SOVEREIGN DEBT MARKET DEVELOPMENTS. IN OCTOBER, THE GROUP OF TRUSTEES OF THE PRINCIPLES FOR STABLE CAPITAL FLOWS AND FAIR DEBT RESTRUCTURING HELD ITS ANNUAL MEETING TO REVIEW THE PROGRESS MADE ON THE IMPLEMENTATION OF THE PRINCIPLES FOR STABLE CAPITAL FLOWS. IN JUNE WE HELD OUR ANNUAL PARIS CLUB MEETING WHICH FOCUSED ON THE FRAMEWORK FOR SOVEREIGN DEBT CRISIS PREVENTION AND RESOLUTION. ALSO IN JUNE, AND THEN AGAIN IN DECEMBER, THE MARKET MONITORING GROUP, WHICH IS THE PRIVATE SECTOR EQUIVALENT OF THE OFFICIAL SECTOR'S SYSTEMIC OVERSIGHT BOARDS, MET TO DEVELOP FORWARD-LOOKING PERSPECTIVES ON POTENTIAL CHALLENGES. FINTECHTHE IIF AGGRESSIVELY RAMPED UP ITS WORK ON TECHNOLOGY-RELATED ISSUES, WHICH ENCOMPASSES A RANGE OF TOPICS FROM PAYMENT SYSTEMS TO BLOCKCHAIN. WE PRODUCED A NUMBER OF THOUGHTFUL RESEARCH PIECES, ATTENDED NUMEROUS CONFERENCES, MET LEADING ACADEMICS (STANFORD, MIT, ETC.), VC FIRMS, GOVERNMENT OFFICIALS, AND OUR MEMBER FIRMS' LABS/STUDIOS (CITI, BBVA, BNY, ETC.). IN OCTOBER, WE LED A GROUP OF CEOS TO SILICON VALLEY. WE ARE ALSO PLANNING SEVERAL STAND-ALONE FIN-TECH EVENTS THAT WILL BRING THE PUBLIC AND PRIVATE SECTORS TOGETHER TO ADDRESS CUTTING-EDGE TOPICS SUCH AS THE USE OF BLOCKCHAIN IN BANKING AND HAVE INCLUDED FIN-TECH TOPICS/SPEAKERS AT ALL OF OUR MAJOR EVENTS. FINALLY, WE LAUNCHED A NEW MEMBER REGTECH WORKING GROUP, WHICH WILL FOCUS ON SUPPORTING THE DEVELOPMENT OF NEW TECHNOLOGIES TO HELP OUR MEMBERS ADDRESS REGULATORY AND COMPLIANCE CHALLENGES. THE WORKING GROUP'S FIRST PROJECT WILL BE TO PREPARE A SUBMISSION FOR THE UK FCA, WHICH HAS PUT OUT A PUBLIC REQUEST FOR INPUT ON A RANGE OF REG-TECH QUESTIONS. GLOBAL FINANCIAL SERVICES REGULATIONTHE 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 2015 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. IN 2015, THE IIF FOCUSED ON ISSUES SUCH AS INTERNATIONAL CAPITAL AND LIQUIDITY STANDARDS FOR BANKS AND INSURERS, RESOLUTION AND RECOVERY POLICY ISSUES, DERIVATIVES MARKET RULES, INTERNATIONAL CONDUCT STANDARDS, SHADOW BANKING, SUPERVISION AND RISK MANAGEMENT, AND ACCOUNTING STANDARDS, AMONG MANY OTHERS. IN ADDITION TO A WIDE ARRAY OF LETTERS TO THE OFFICIAL SECTOR IN RESPONSE TO PROPOSALS AND REQUESTS FOR COMMENTS, IN 2015, THE IIF INITIATED AND MANAGED A LENGTHY AND AUTHORITATIVE MARKETS LIQUIDITY STUDY AND CONDUCTED A RELATED GLOBAL "ROAD-SHOW" WITH TOP OFFICIALS; POSITIONED THE IIF AT THE FOREFRONT OF THE BASEL IV DEBATE AND ESPECIALLY THE USE OF ADVANCE INTERNAL MODELS; CONDUCTED NUMEROUS QIS ANALYSIS ON CREDIT AND MARKET RISK; AND, DEVELOPED AND LED ON THE ISSUES OF TLAC AND CROSS-BORDER-RESOLUTION. 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 42 0 115 1 0 1 CH SN 0 0 0 0 X 39 38 0 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 1 1 1 0 X BARRIE ORELLANA 2028573600 1333 H STREET NW NO 800E WASHINGTON DC 200054770 DOUGLAS FLINT CHAIRMAN 2.00 X X 0 0 0 WALTER KIELHOLZ VICE CHAIRMAN 2.00 X X 0 0 0 MARCUS WALLENBERG VICE CHAIRMAN AND TREASURER 2.00 X X 0 0 0 YAHYA ALYAHYA BOARD DIRECTOR 2.00 X 0 0 0 WALTER BAYLY BOARD DIRECTOR 2.00 X 0 0 0 MARTIN BLESSING BOARD DIRECTOR 2.00 X 0 0 0 GARY COHN BOARD DIRECTOR 2.00 X 0 0 0 MICHAEL CORBAT BOARD DIRECTOR 2.00 X 0 0 0 ANA BOTIN 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 JAMES GORMAN BOARD DIRECTOR 2.00 X 0 0 0 PIYUSH GUPTA BOARD DIRECTOR 2.00 X 0 0 0 GERALD HASSELL BOARD DIRECTOR 2.00 X 0 0 0 NOBUYUKI HIRANO BOARD DIRECTOR 2.00 X 0 0 0 NOBUHIDE HAYASHI BOARD DIRECTOR 2.00 X 0 0 0 JIANQING JIANG BOARD DIRECTOR 2.00 X 0 0 0 CHANDA KOCHHAR BOARD DIRECTOR 2.00 X 0 0 0 JEAN LEMIERRE BOARD DIRECTOR 2.00 X 0 0 0 MASAYUKI OKU BOARD DIRECTOR 2.00 X 0 0 0 FREDERIC OUDEA BOARD DIRECTOR 2.00 X 0 0 0 DANIEL PINTO BOARD DIRECTOR 2.00 X 0 0 0 BRIAN PORTER BOARD DIRECTOR 2.00 X 0 0 0 STEVEN KANDARIAN BOARD DIRECTOR 2.00 X 0 0 0 URS ROHNER BOARD DIRECTOR 2.00 X 0 0 0 SUZAN SABANCI DINCER 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 AXEL WEBER BOARD DIRECTOR 2.00 X 0 0 0 TIMOTHY D ADAMS PRESIDENT AND CEO 40.00 X X 2440729 0 52578 WILLIAM WINTERS BOARD DIRECTOR 2.00 X 0 0 0 GUOLI TIAN BOARD DIRECTOR 2.00 X 0 0 0 TOM DE SWAAN BOARD DIRECTOR 2.00 X 0 0 0 ROBERTO SETUBAL BOARD DIRECTOR 2.00 X 0 0 0 MARTIN GILBERT BOARD DIRECTOR 2.00 X 0 0 0 JOHN CRYAN BOARD DIRECTOR 2.00 X 0 0 0 OLIVER BATE BOARD DIRECTOR 2.00 X 0 0 0 ALI AHMED AL-KUWARI BOARD DIRECTOR 2.00 X 0 0 0 RALPH HAMERS BOARD DIRECTOR 2.00 X 0 0 0 ANSHU JAIN BOARD DIRECTOR 2.00 X 0 0 0 ANTONY JENXINS BOARD DIRECTOR 2.00 X 0 0 0 PETER SANDS BOARD DIRECTOR 2.00 X 0 0 0 MARTIN SENN BOARD DIRECTOR 2.00 X 0 0 0 MICHAEL SMITH BOARD DIRECTOR 2.00 X 0 0 0 BARRIE ORELLANA SENIOR DIRECTOR OF FINANCE 40.00 X 491565 0 50079 HUNG TRAN EXECUTIVE MANAGING DIRECTOR 40.00 X 866389 0 29052 KRISTEN SILVERBERG GENERAL COUNSEL & SR. ADVISOR 40.00 X 575457 0 51100 CHARLES COLLYNS MANAGING DIR & CHIEF ECON 40.00 X 614414 0 26500 DAVID SCHRAA DIRECTOR 40.00 X 525204 0 46889 SONJA GIBBS DIRECTOR 40.00 X 460721 0 26849 ANDRES PORTILLA DIRECTOR 40.00 X 638593 0 51472 GEORGE ABED DIRECTOR 40.00 X 590766 0 29000 DAVID HEDLEY DIRECTOR 40.00 X 352375 0 29009 7556213 0 392528 51 0 1 0 MICHAEL CONAN WELLINGTON FRENCH 1073 PAPERMILL COURT NW WASHINGTON DC 20007 CONSULTANT 128000 1 MEMBERSHIP DUES 900099 31682028 31682028 SPONSORSHIP INCOME 900099 2601995 2601995 REGISTRATION FEE INCOME 900099 314476 314476 34598499 260928 260928 HONORARIA 900099 7781 7781 REVENUE REFUND 900099 3513 3513 7447 7447 18741 34878168 34598499 0 279669 5197863 14848363 1037221 870017 849054 315492 130838 43602 603474 918549 2150265 2471774 2800981 1148364 75061 SUBSCRIPTIONS AND BOOKS 430829 TAX,INSURANCE AND FEES 169221 33595 34094563 -83504 -36595 27704991 24729539 422093 411472 1080868 811969 9656136 4759880 5763995 4896256 9605984 9551786 44494427 40364427 2571564 2233591 13278511 9373240 5763413 5418002 21613488 17024833 X 22880939 23339594 22880939 23339594 44494427 40364427 X 783605 -314445 -10505 X X 0 1 X 1 0 4845549 1716842 3128707 2321667 1179236 1142431 2488920 1863802 625118 4896256 DEFERRED RENT 5418002 5418002 X 34849322 -314445 156696 172505 14756 34834566 43602 43602 34878168 35103719 156696 896062 1052758 34050961 43602 43602 34094563 PART X, LINE 2: 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. PART XI, LINE 2D - OTHER ADJUSTMENTS: SINGAPORE REVENUE 172,505. PART XII, LINE 2D - OTHER ADJUSTMENTS: SINGAPORE EXPENSES 896,062. EAST ASIA AND THE PACIFIC - 2 6 PROGRAM SERVICES ECONOMIC ANALYSIS AND MEMBERSHIP DEVELOPMENT. 2229371 MIDDLE EAST & NORTH AFRICA 1 3 PROGRAM SERVICES ECONOMIC ANALYSIS AND MEMBERSHIP DEVELOPMENT. 893334 EUROPE 1 1 PROGRAM SERVICES ADVOCACY ON REGULATORY ISSUES AND MEMBERSHIP DEVELOPMENT. 924812 4 10 0 0 4 10 4047517 0 4047517 0 0 0 0 0 0 X X X X X 0 0 0 TIMOTHY D ADAMS PRESIDENT AND CEO 1240729 0 1200000 0 0 0 26500 0 26078 0 2493307 0 0 0 BARRIE ORELLANA SENIOR DIRECTOR OF FINANCE 258229 0 225250 0 8086 0 26500 0 23579 0 541644 0 0 0 HUNG TRAN EXECUTIVE MANAGING DIRECTOR 444209 0 422180 0 0 0 26500 0 2552 0 895441 0 0 0 KRISTEN SILVERBERG GENERAL COUNSEL & SR. ADVISOR 309063 0 263940 0 2454 0 26500 0 24600 0 626557 0 0 0 CHARLES COLLYNS MANAGING DIR & CHIEF ECON 404645 0 202000 0 7769 0 26500 0 0 0 640914 0 0 0 DAVID SCHRAA DIRECTOR 224261 0 273609 0 27334 0 26500 0 20389 0 572093 0 0 0 SONJA GIBBS DIRECTOR 276110 0 179306 0 5305 0 26500 0 349 0 487570 0 0 0 ANDRES PORTILLA DIRECTOR 344028 0 282800 0 11765 0 26500 0 24972 0 690065 0 0 0 GEORGE ABED DIRECTOR 232779 0 236949 0 121038 0 26500 0 2500 0 619766 0 0 0 DAVID HEDLEY DIRECTOR 256711 0 88288 0 7376 0 26500 0 2509 0 381384 0 0 0 FORM 990, PART VI, SECTION A, LINE 1 THE BOARD OF DIRECTORS MAY APPOINT SUCH COMMITTEES, INCLUDING AN EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS, AS IT SHALL DEEM FIT. SUCH COMMITTEES SHALL HAVE SUCH POWERS, EXCEPT THE POWER TO AMEND THE BY-LAWS OR TO FILL VACANCIES ON THE BOARD, AS THE BOARD OF DIRECTORS MAY DETERMINE. 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 ELECT 30 OF THE INSTITUTE'S AUTHORIZED DIRECTORS AND THE BOARD OF DIRECTORS ELECT THE REMAINING 10 DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS APPROVE THE BOARD RECOMMENDED BUDGET. FORM 990, PART VI, SECTION B, LINE 11 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. A COPY OF THE RETURN IS ALSO PROVIDED TO THE BOARD OF DIRECTORS. THE RETURN IS THEN REVIEWED AND SIGNED BY THE PRESIDENT AND CEO BEFORE IT IS FILED WITH THE IRS. 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 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. 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 -10,505. PART XII, LINE 2C FOREIGN OFFICE ESTABLISHED AS A SEPARATE ENTITY IS CONSOLIDATED INTO INSTITUTE OF INTERNATIONAL FINANCE, INC'S AUDITED FINANCIAL STATEMENTS.