2015-11-04T13:01:50-06:00 2015-06-30 GRANT THORNTON LLP 757 THIRD AVE 2ND FLOOR NEW YORK NY 100172013 990 2014-07-01 131628168 Council on Foreign Relations Inc % KEITH OLSON COUN 2124349400 58 East 68th Street New York NY 10065 keith olson exec vp, cfo & treasurer 2124349400 2015-11-04 true Scott Thompsett P00741490 2125990100 2014 2016-03-07 17:11:31Z RICHARD HAASS PRESIDENT 58 East 68th Street New York NY 10065 192832200 false X www.CFR.org X 1921 NY CFR is an independent, non-partisan membership organization, think tank, & publisher dedicated to under- standing the foreign policy choices facing the U.S. & other countries. 35 34 467 109 2579068 113786 35395400 51397000 8213400 8839000 15887900 15844000 1553400 1405500 61050100 77485500 0 1894939 0 0 33701900 34767500 0 0 4308800 31021000 28094561 64722900 64757000 -3672800 12728500 491869900 502053700 84993900 85381300 406876000 416672400 X the council on foreign relations (cfr) is an independent, nonpartisan membership organization, think tank, and publisher dedicated to being a resource for its members, government officials, business executives, journalists, educators and (continued on schedule o) false false 24884100 1894900 The David Rockefeller Studies Program-CFR's "think tank"-comprises more than seventy full-time, part-time, and visiting scholars and practitioners, called fellows. They hail from varied backgrounds, including academia, government, the media, and the private sector, and provide analysis on the significant issues shaping today's global agenda. Fellows monitor developments in the major regions and countries around the world and study topics such as defense policy, nuclear proliferation, terrorism, global governance, energy, trade, international economics and finance, climate change, development, global health, and cyber and digital policy. 10079900 8839000 Foreign Affairs has long been America's leading forum for serious discussion of foreign policy and international affairs. It presents clear thinking by knowledgeable observers on important issues, written to be read with ease and pleasure by professionals and general readers alike. Reflecting the same commitment to nonpartisanship as the Council itself, Foreign Affairs identifies with no one school of thought and encourages a wide range of debate in its pages to assist readers in thinking for themselves about America's role in the world. 3503000 CFR's Meetings Programs provide a nonpartisan forum for informed policy debate for CFR members together with policymakers, world leaders, academic experts, and prominent thinkers. With programming in New York, Washington, D.C., and throughout the country, CFR's Meetings Programs feature a wide range of speakers and viewpoints to help participants to better understand the pressing foreign policy issues of the day. 490800 Task Force 1602600 Education 1157000 National Program 2481300 Websites 1507600 Outreach 90000 Global Board of Advisors 310800 Term member program 7640100 46107100 true true false false false false false false false true true true false false true true true false false true true false false false false false false true true true true false false false false false false false false true false true false false false false false false false false true 260 0 true 467 true true true true JA false false false true true false false false false X 35 34 false false true false true true true true true false false true true true true true true true true false AL AK AR CA CO CT DC FL GA HI IL KS KY ME MD MA MI MN MS NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV WI X KEITH OLSON 2124349400 58 EAST 68TH STREET New York NY 10065 Carla A Hills Co-Chairman 1.0 0.0 X X 0 0 0 Robert E Rubin Co-Chairman 1.0 0.0 X X 0 0 0 Richard N Haass President (Non-Voting Board) 35.0 0.0 X X 1347736 0 39183 David M Rubenstein vice chairman 1.0 0.0 X X 0 0 0 John P Abizaid director 1.0 0.0 X 0 0 0 Peter Ackerman Director 1.0 0.0 X 0 0 0 Zo Baird director 1.0 0.0 X 0 0 0 Alan S Blinder director 1.0 0.0 X 0 0 0 Mary mcinnis Boies director 1.0 0.0 X 0 0 0 David G Bradley director 1.0 0.0 X 0 0 0 Tom Brokaw director 1.0 0.0 X 0 0 0 R Nicholas Burns director 1.0 0.0 X 0 0 0 Steven A Denning director 1.0 0.0 X 0 0 0 Martin S Feldstein director 1.0 0.0 X 0 0 0 Laurence D Fink director 1.0 0.0 X 0 0 0 Stephen Friedman director 1.0 0.0 X 0 0 0 Ann M Fudge director 1.0 0.0 X 0 0 0 Pamela brooks Gann director 1.0 0.0 X 0 0 0 Thomas H Glocer director 1.0 0.0 X 0 0 0 J Tomilson Hill director 1.0 0.0 X 0 0 0 Donna J Hrinak director 1.0 0.0 X 0 0 0 Shirley Ann Jackson director 1.0 0.0 X 0 0 0 Jami Miscik director 1.0 0.0 X 0 0 0 Eduardo J Padrn director 1.0 0.0 X 0 0 0 John A Paulson director 1.0 0.0 X 0 0 0 Colin L Powell director 1.0 0.0 X 0 0 0 Margaret g Warner director 1.0 0.0 X 0 0 0 Vin Weber director 1.0 0.0 X 0 0 0 Christine Todd Whitman director 1.0 0.0 X 0 0 0 peter b henry director 1.0 0.0 X 0 0 0 ruth porat director 1.0 0.0 X 0 0 0 Blair Effron Director 1.0 0.0 X 0 0 0 Susan Hockfield Director 1.0 0.0 X 0 0 0 Richard E Salomon Director 1.0 0.0 X 0 0 0 James G Stavridis Director 1.0 0.0 X 0 0 0 Daniel H Yergin Director 1.0 0.0 X 0 0 0 Keith C Olson Exec VP & CFO 35.0 0.0 X 429962 0 39183 James M Lindsay Sr. VP & Director Of Studies 35.0 0.0 X 381477 0 39183 Nancy D Bodurtha VP, Meetings and Membership 35.0 0.0 X 254981 0 16860 Irina Faskianos VP,National Program & Outreach 35.0 0.0 X 244981 0 23851 Suzanne E Helm VP, Philanthropy & Relations 35.0 0.0 X 317442 0 37741 Jan-Marie Hughes VP, HR and Administration 35.0 0.0 X 249942 0 34380 Lisa K Shields VP,Glob Comm & Media Relations 22.0 0.0 X 150500 0 28545 Lynda A Hammes Publisher, Foreign Affairs 35.0 0.0 X 222481 0 26401 Jeffrey A Reinke Secretary of the Corporation 35.0 0.0 X 196547 0 30382 Caroline N McCall VP Education 35.0 0.0 X 169808 0 32370 Gideon G Rose Editor, Foreign Affairs 35.0 0.0 X 277481 0 36783 Robert B Kahn Sr. Fellow for Inter. Econ. 35.0 0.0 X 218234 0 26654 Paul B Stares Sr. Fellow and Director of CPA 35.0 0.0 X 221985 0 34544 Valerie B Post Director of Events 35.0 0.0 X 220641 0 27062 Michael A Levi Director, Geoeconomic Studies 35.0 0.0 X 222736 0 25016 5126934 0 498138 58 false true false Neuman's Kitchen Inc 203 Chrystie St NEW YORK NY 10002 Catering 889295 EW Howell Co LLC 592 Fifth Avenue 7th Fl NEW YORK NY 10036 Construction 807882 Guardsmark LLC PO Box 11407 BIRMINGHAM AL 35246 Security 552382 Palantir Net Inc 2211 N Elston Avenue Suite 400 CHICAGO IL 60614 Web/Software Design 547593 Debevoise Plimpton LLP 919 Third Avenue 28th Fl NEW YORK NY 10022 Legal 513759 19 6263900 45133100 642600 51397000 FOREIGN AFFAIRS PUBLICATION 541800 8839000 6723100 2115900 8839000 1599000 463168 1135832 0 0 2072000 1134300 937700 0 937700 937700 123470500 4986900 111617900 2594500 11852600 2392400 14245000 14245000 0 0 0 MISCELLANEOUS 900099 467800 467800 467800 77485500 6723100 2579068 16786332 676400 676400 1218539 1218539 0 0 4207500 1149700 2701300 356500 0 23410200 19046200 2428000 1936000 1684500 1026100 564900 93500 3756600 3150300 169000 437300 1708700 1406300 174200 128200 0 210500 128400 70400 11700 183800 112000 61600 10200 0 0 2306800 2306800 4727861 3647461 908800 171600 0 2054100 1047600 959600 46900 1418300 1169700 168100 80500 0 2296300 1574500 590500 131300 2686900 2146900 154300 385700 0 2233600 1843500 129100 261000 2617200 1457400 1086600 73200 0 3090700 1618000 1352400 120300 0 PUBLICATION & PRINTING 3409200 3080500 292500 36200 MISCELLANEOUS 859300 607600 223000 28700 64757000 46107100 14341100 4308800 8000 8000 61780700 79988300 15681300 27197600 1655700 2850600 0 0 0 0 0 0 158700 142300 607900 530300 113139500 38516400 75309800 74623100 103560100 128881200 233107700 187832300 0 0 0 0 0 0 491869900 502053700 6295900 7113000 202300 0 4397100 4789200 61170000 59605000 0 0 0 0 0 0 0 0 12928600 13874100 84993900 85381300 X 135950700 69006500 102659300 168138000 168266000 179527900 406876000 416672400 491869900 502053700 X 12728500 -1242800 -1689300 X false true X true false X 47654800 46650900 32692700 35395400 51397000 213790800 0 0 47654800 46650900 32692700 35395400 51397000 213790800 22094288 191696512 3508544 3146019 3998800 4912500 3671000 19236863 111817 111817 69600 170984 82800 146700 467800 937884 234077364 32471588 0.81895 0.81211 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 369190600 8304400 9916500 6950600 9114400 371346500 333666100 5223400 45273000 6164900 8807000 369190600 301718400 6649000 44236300 13899300 5038300 333666100 303107500 12418800 1678700 12437400 3049400 301718200 262462000 17188500 39675700 12014600 4204100 303107500 0.22010 0.45810 0.32180 false false 7252000 7252000 46358400 9173900 37184500 39425600 15130100 24295500 18348700 14212400 4136300 1754800 1754800 74623100 GROWTH ORIENTED HEDGE FUNDS 59855400 F DIVERSIFIERS 98134400 F PRIVATE EQUITY FUNDS 24943500 F PRIVATE RE/NR FUNDS OF FUND 4899000 F 187832300 0 ACCRUED POSTRETIREMENT 6048000 INTEREST RATE SWAP AGREEMENT 7826100 13874100 X 73380900 -1242800 -1689300 -2932100 76313000 2306800 -1134300 1172500 77485500 63584500 63584500 2306800 -1134300 1172500 64757000 schedule D part XI and XII Part XI, line 2d Change in value of interest rate swap agreement ($215,600) Post-Retirement Benefits ($594,000) Write-off of uncollectable grant & contributions ($879,700) Total changes in line 2D ($1,689,300) part XI line 4b and XII line 4b re-classification of rental expenses to offset Rental Income on part VIII of the Form 990 ($1,134,300) accounting for uncertainty in income taxes The Council on Foreign Relations has adopted the provisions of accounting standard codification ("ASC") 740 accounting for uncertainties in income taxes. Asc 740-10 clarifies the accounting for uncertainty in tax positions taken or expected to be taken in a tax return including issues relating to financial statement recognition and measurement. This section provides that the tax effect from an uncertain tax position can be recognized in the financial statements only if the position is "more-likely-than-not" to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. CFR is exempt from federal and new York state income taxation by virtue of being an organization described in section 501 (c)(3) of the IRC and similar provisions of the New York State tax code. Nevertheless, CFR may be subjected to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the code. The tax years ending June 30, 2012, 2013, 2014 and 2015 are still open to audit for both federal and state purposes. CFR believes that there are no material uncertain tax positions within its financial statements. Form 990, Schedule D, Part V The Council holds a substantial endowment for the purposes of funding future programmatic activities, including seminars, publications, website activities and more. The Council's endowment principal shall be left untouched, with the earnings on the investments to be appropriated for expenditures consistent with the Council's tax-exempt mission. Central America and the Caribbean Investments 131455432 131455432 131455432 true false true true true false part iv The Council on Foreign Relations invests in domestic and foreign limited partnerships that may own an interest in a foreign corporation, passive foreign investment company, or foreign partnership. Nevertheless, CFR's investment activities may not reach the thresholds required for filing the Forms 926, 5471, 8621 or 8865. To the extent such a form was completed, it has been filed with the Organization's Form 990-T. true Humanity In Action 601 W 26th Street New York NY 10001 133977257 501(c)(3) 676400 to Support Diversity Efforts 1 Arthur Ross Book Award Gold Prize Recipient 1 15000 Arthur Ross Book Award Silver Prize Recipient 1 7500 Hitachi Japan Fellowship 6 161251 IAF Fellowship 14 643091 Murrow Fellowship 1 75000 Stanton Nuclear Security Fellowship 5 183333 Studies Adjunct Senior Fellowship 2 87824 Studies Senior Fellowship on Global Governance 1 45540 Form 990, Sch I As part of a grant from the Robina Foundation, CFR supported Humanity in Action's work to encourage greater diversity in the foreign policy field by recruiting, educating, and mentoring students and young professionals from underrepresented communities. The funds enabled undergraduate and graduate students to participate in two programs, the Humanity in Action Fellowship and the Diplomacy and Diversity Fellowship. The relationship between CFR and Humanity in Action was governed by a formal agreement letter. CFR senior staff monitored compliance with the agreement by requiring Humanity in Action to submit annual narrative and financial reports, through regular discussions with senior HIA staff about their progress, and by sending CFR staff to observe Humanity in Action's programs firsthand. X X true true X X X X false false false true false false false true false Richard N Haass President (Non-Voting Board) 409962 0 266000 0 671774 0 20798 0 19899 0 1388433 0 0 0 Keith C Olson Exec VP & CFO 344962 0 85000 0 0 0 20798 0 19899 0 470659 0 0 0 James M Lindsay Sr. VP & Director Of Studies 274977 0 106500 0 0 0 20798 0 19752 0 422027 0 0 0 Nancy D Bodurtha VP, Meetings and Membership 207481 0 47500 0 0 0 16798 0 1259 0 273038 0 0 0 Irina Faskianos VP,National Program & Outreach 197481 0 47500 0 0 0 15998 0 9019 0 269998 0 0 0 Suzanne E Helm VP, Philanthropy & Relations 257442 0 60000 0 0 0 20769 0 18295 0 356506 0 0 0 Jan-Marie Hughes VP, HR and Administration 192442 0 57500 0 0 0 15995 0 19525 0 285462 0 0 0 Lisa K Shields VP,Glob Comm & Media Relations 125500 0 25000 0 0 0 10160 0 19189 0 179849 0 0 0 Lynda A Hammes Publisher, Foreign Affairs 172481 0 50000 0 0 0 13998 0 13443 0 249922 0 0 0 Jeffrey A Reinke Secretary of the Corporation 144846 0 37500 0 14201 0 11997 0 19287 0 227831 0 0 0 Caroline N McCall VP Education 149808 0 20000 0 0 0 13985 0 19281 0 203074 0 0 0 Gideon G Rose Editor, Foreign Affairs 227481 0 50000 0 0 0 18398 0 19632 0 315511 0 0 0 Robert B Kahn Sr. Fellow for Inter. Econ. 211234 0 7000 0 0 0 17067 0 10431 0 245732 0 0 0 Paul B Stares Sr. Fellow and Director of CPA 199985 0 22000 0 0 0 16159 0 19229 0 257373 0 0 0 Valerie B Post Director of Events 107841 0 112800 0 0 0 8719 0 19038 0 248398 0 0 0 Michael A Levi Director, Geoeconomic Studies 206736 0 16000 0 0 0 17989 0 7871 0 248596 0 0 0 part i, line 1a For a portion of the year and as a condition of his employment, the President was required by the Board to reside in a residence owned by the Council. The value of this employer-provided housing was grossed up and included in the President's taxable wages. It is reported in Schedule J, Part II, Column (b)(iii). In July 2014, the Council on Foreign Relations sold the residence used by the President. In accordance with his employment contract, the Council provided the President a housing allowance which is similarly grossed up and included in the his taxable wages. That housing allowance is reflected on Schedule J, Part II, Column (b)(iii). Schedule J, Part II, Column (b)(iii) also reflects tax gross up payments on a portion of the President's compensation paid in light of IRS limits on retirement plan compensation. Part I, Line 5a The Director of Events receives compensation continent on revenues from rental of the organization's facilities. part I, line 7 non-fixed payments The Council on Foreign Relations provides discretionary bonuses to officers and key employees reported on the organization's form 990. The process for determining those bonuses has been described in Schedule O where the Council discusses its compensation process. The Council's compensation and bonuses are determined in the same process. A District of Columbia 536001131 25483VJU9 2012-09-04 62680000 Acquisition/Renovation Office Bldg false false false A 3075000 0 62680000 0 0 0 0 0 0 0 62680000 0 2010 true false true true A false false false false 0 true false false true A false true false false false false 0 false 0 false true A true J Thomilson Hill Board Member 147644 employee spouse's compensation false Form 990, Part VII J. Thomilson Hill is a non-independent member of the board. His spouse, Janine W. hill, is an employee of the Council on Foreign Relations and received compensation of $147,644. X 38 642600 FAIR MARKET VALUE false false true line 32a To the extent that the Council on foreign relations receives any non-cash donations (usually in the form of securities, bonds, etc.), the organization employs its investment advisor to liquidate the investments. Form 990, Part III, Line 1 students, civic and religious leaders, and OTHER INTERESTED CITIZENS IN ORDER TO HELP THEM BETTER UNDERSTAND THE WORLD AND THE FOREIGN POLICY CHOICES FACING THE UNITED STATES AND OTHER COUNTRIES. FOUNDED IN 1921, CFR TAKES NO INSTITUTIONAL POSITIONS ON MATTERS OF POLICY. CFR CARRIES OUT ITS MISSION BY MAINTAINING A DIVERSE MEMBERSHIP, INCLUDING SPECIAL PROGRAMS TO PROMOTE INTEREST AND DEVELOP EXPERTISE IN THE NEXT GENERATION OF FOREIGN POLICY LEADERS. CONVENING MEETINGS AT ITS HEADQUARTERS IN NEW YORK AND IN WASHINGTON, DC, AND OTHER CITIES WHERE SENIOR GOVERNMENT OFFICIALS, MEMBERS OF CONGRESS, GLOBAL LEADERS, AND PROMINENT THINKERS COME TOGETHER WITH CFR MEMBERS TO DISCUSS AND DEBATE MAJOR INTERNATIONAL ISSUES. SUPPORTING A STUDIES PROGRAM THAT FOSTERS INDEPENDENT RESEARCH, ENABLING CFR SCHOLARS TO PRODUCE ARTICLES, REPORTS, AND BOOKS AND HOLD ROUNDTABLES THAT ANALYZE FOREIGN POLICY ISSUES AND MAKE CONCRETE POLICY RECOMMENDATIONS. PUBLISHING FOREIGN AFFAIRS, THE PREEMINENT JOURNAL ON INTER-NATIONAL AFFAIRS AND U.S. FOREIGN POLICY.SPONSORING INDEPENDENT TASK FORCES THAT PRODUCE REPORTS WITH BOTH FINDINGS AND POLICY PRESCRIPTIONS ON THE MOST IMPORTANT FOREIGN POLICY TOPICS. PROVIDING UP TO DATE INFORMATION AND ANALYSIS ABOUT WORLD EVENTS AND U.S. FOREIGN POLICY ON ITS WEBSITES, CFR.ORG AND FOREIGNAFFAIRS.COM. Form 990, Part III, Line 4(d): ALL Other Programmatic Activities Website: CFR's Website, CFR.org, is one of the organization's primary communications channels to its various audiences. The site publishes a rich variety of types of content, including the Daily news Analysis, Backgrounders, interviews, podcasts, opinion pieces, full text of publications from the think tank, resources in support of the various outreach initiatives, videos and transcripts of on-the-record meetings and seminars and more. The site also provides a comprehensive account of the history and activities of CFR in New York and at its Washington D.C. Office. Foreignaffairs.com is the website of CFR's flagship magazine, and offers access to a deep archive of articles and related resources monthly. The Stephen M. Kellen Term Member Program encourages promising young leaders in government, media, nongovernmental organizations, law, business, finance, and academia to engage in a sustained conversation on international affairs and U.S. foreign policy. The program allows these younger members to interact with seasoned foreign-policy experts and participate in a wide variety of events designed especially for them. Each year a new class of term members, between the ages of 30 and 36, is elected to a five-year membership term. The Council on Foreign Relations launched the Independent Task Force Program in 1995 with a Task Force on nuclear nonproliferation, chaired by Stephen J. Hadley, who most recently served as the national security adviser in the George W. Bush administration. More than seventy reports later, Task Forces have become a trademark of the Council. The Council sponsors an Independent Task Force when an issue of current and critical importance to U.S. foreign policy arises, and it seems that a group diverse in backgrounds and perspectives may nonetheless be able to reach a meaningful consensus on a policy through private and nonpartisan deliberations. In regards to outreach initiatives, the Council is committed to reaching out to different constituencies so that they better understand the world and the foreign policy choices facing the United States and other governments. CFR is devoting more time and energy to connecting with and serving as a resource for groups of interested citizens whose voices are increasingly important to the national foreign policy debate. These constituencies include educators and students; religious and congregational leaders; and state and local officials. CFR's additional programs are Education, a National Program and a Global Board of Advisors. For more information, please visit the organization's website, www.cfr.org. Form 990, Part VI, Line 4 In February 2015, the Council on Foreign Relations amended its By-laws regarding the manner in which directors are elected to the Board. In addition, the Board adopted a new Conflict of Interest policy to reflect changes in New York State Not-for-Profit law. Form 990, Part VI, Line 6 The Council on Foreign Relations is first and foremost a membership organization. The Council's membership represents a group unmatched in accomplishment and diversity in the field of international affairs. The Council has 5,000 members and term members, comprised of top government officials, renowned scholars, business executives, acclaimed journalists, prominent lawyers, and distinguished nonprofit professionals. The Council also has a corporate membership program that provides a unique forum for business leaders to interact with noted thinkers and practitioners in government, policy, academia, and business through invitations to exclusive events, direct engagement with CFR experts, and virtual access to our members-only website. Form 990, Part VI, Line 7a The membership of the council on foreign relations elects all of the voting members of the board of directors. Any changes to the articles of incorporation must be approved by a majority of members of the council on foreign relations. form 990, part vi, line 11a Process for reviewing Form 990 The Council on Foreign Relation's Form 990 was prepared by a nationally recognized accounting firm in conjunction with the organization's senior management and Audit Committee of the Board. A draft copy of the Form 990 is reviewed by the Audit Committee of the Board and revised as necessary with their input. Once the Audit Committee approves the Form 990 for filing, a copy is circulated to the full Board for their review and approval. Each director of the Board is given the opportunity to comment on the Form 990 prior to its filing. Form 990, Part VI, Line 12c Conflict of interest policy enforcement and monitoring Each officer, director, and key employee of the Council on Foreign Relations is required to annually disclose any potential conflicts of interest to the Audit Committee of the Board. The Audit Committee reviews each reported potential conflict of interest and reports it recommendations regarding the reported matters to the full Board for approval. The Council's conflict of interest policy requires any party with a potential conflict to recuse him or herself from the Board's deliberations and also requires that potential conflicts be reported as soon as they arise. Potential conflicts of interest are addressed immediately upon reporting. form 990, part vi, line 15a & 15b process for determining compensation The Council on Foreign Relations undertakes a thorough process to ensure that the executive compensation paid to its officers and key employees, including the President, is reasonable, given the market in which the organization operates. The Compensation Committee of the Board, which is composed of independent persons that have no personal interest in the proposed compensation, undertakes an annual review and approval of compensation. To assist their deliberations, the Compensation Committee regularly engages an independent compensation consultant to complete a market assessment and competitive position analysis for the organization's officers and key employees, including the President. The compensation consultant utilizes comparability and benchmarking surveys, as well as Form 990s of comparable organizations, to ensure that the Council compensates its executives commensurate with the market. Compensation decisions and reports are contemporaneously documented in the minutes of the meeting of the Compensation Committee. Form 990, Part VI, Line 19 availability of documents to the public The Council on Foreign Relations' Form 990, governing documents and conflict of interest policy are available to the public by upon request. The Council's audited financial statements are available on our website, www.cfr.org. Form 990, Part XI, Line 9 Other Changes in Net Assets Change in value of interest rate swap agreement ($215,600) Post-Retirement Benefits ($594,000) Write-off of uncollectable grant & contributions ($879,700) Total changes in net assets ($1,689,300)