2015-12-17T23:00:11-06:00 2015-06-30 350921680 CROWE HORWATH LLP 225 West Wacker Drive Suite 2600 Chicago IL 606061224 990 2014-07-01 362251912 Institute for the International Education of Students INST 3129441750 33 W Monroe Street Chicago IL 606035405 william j martens cfo 2015-12-17 true Nicole Bencik P00756195 3128997000 2014 2016-03-07 17:11:31Z IES Abroad Mary M Dwyer PhD 33 W Monroe Street Chicago IL 606035405 91027162 false X www.iesabroad.org X 1953 IL The Institute for the International Education of Students (IES) encourages students to explore foreign countries and fosters students' personal and academic goals by providing study abroad programs. 20 19 158 46 0 0 565382 574813 82138524 85320404 2150562 4431908 1283337 -3620452 86137805 86706673 2639379 2816997 0 0 32144465 31874889 154853 60714 978396 48746625 46194958 83685322 80947558 2452483 5759115 65424189 67018263 10326911 12910854 55097278 54107409 The Institute for the International Education of Students (IES) blends the best elements of foreign higher education with American University requirements and encourages students to explore the unique elements of foreign countries. IES Abroad was founded in 1950 and is a global organization with more than 126 academic programs around the world. IES is comprised of a consortium of more than 225 selective colleges and universities, and enrolls more than 5,700 students in unique programs in 20 countries throughout Europe, Asia, Africa, Australia, and South America. IES fosters students' intercultural competence and academic goals by providing quality study abroad programs worldwide. false false 65728253 2816997 80766760 STUDY ABROAD ACADEMIC PROGRAMS: IES OFFERS A BROAD-BASED CURRICULUM THAT ENCOMPASSES BUSINESS AND INTERNATIONAL STUDIES; COMMUNICATIONS AND MEDIA; FINE AND PERFORMING ARTS; HUMANITIES; SCIENCE, ENGINEERING, AND HEALTH; AND SOCIAL AND BEHAVIORAL SCIENCES. OVER 5,700 STUDENTS BENEFITED FROM OUR PROGRAMS BY ENHANCING THEIR ACADEMIC AND SOCIAL GROWTH WHILE EXPANDING THEIR INTERCULTURAL COMPETENCY. THESE STUDENTS EARNED EITHER A SEMESTER OR TWO SEMESTERS WORTH OF CREDIT BY STUDYING AT ONE OF OUR 35 LOCATIONS IN THE COUNTRIES OF ARGENTINA, AUSTRALIA, AUSTRIA, BRAZIL, CHILE, CHINA, COSTA RICA, ECUADOR, ENGLAND, FRANCE, GERMANY, INDIA, IRELAND, ITALY, JAPAN, MOROCCO, NETHERLANDS, NEW ZEALAND, SOUTH AFRICA, SPAIN AND TURKEY. 65728253 true true false false false false false false true true true false false true false true false true true true false true true false false false false true true false false false false false false false false false false false false true false false false false true 63 0 true 158 true false true AR AS AU BR CJ CI CH CS EC FR GM IN EI IT JA MO NL NZ PM SF SP UK false false false false false false false false X 20 19 false false false false false false false true true false true true true true true true true true true true false AL AK AZ AR CA CO CT FL GA HI IL KS KY ME MD MA MI MN MS NH NJ NY NC ND OH OK OR PA RI SC UT VA WV WI NM DC X WILLIAM J MARTENS 3129441750 33 W Monroe Street Ste 2300 CHICAGO IL 606035405 Dr Mary M Dwyer Director/President 35.00 X X 708774 0 135971 Ezio Vergani Chair 1.00 X X 0 0 0 Debora de Hoyos Vice Chair 1.00 X X 0 0 0 James Crawford Vice Chair 1.00 X X 0 0 0 Loren Anderson Director 1.00 X 0 0 0 Mary Cahillane Director 1.00 X 0 0 0 Pamela Gann Director 1.00 X 0 0 0 John Gearen Director 1.00 X 0 0 0 Robert Hallworth Director 1.00 X 0 0 0 Rhonda Jordan Director 1.00 X 0 0 0 Dr Raynard Kington Director 1.00 X 0 0 0 Thomas McDonald Director 1.00 X 0 0 0 Robert McNeill Director 1.00 X 0 0 0 David Oxtoby Director 1.00 X 0 0 0 Marla Salmon Director 1.00 X 0 0 0 Alan Schwartz Director 1.00 X 0 0 0 Sheila Stamps Director 1.00 X 0 0 0 Peter Sundman Director 1.00 X 0 0 0 Monica Vachher Director 1.00 X 0 0 0 Dr C James Yeh Director 1.00 X 0 0 0 William Hoye EVP/Chief Operating Officer 35.00 X 421300 0 47038 William Martens VP Finance/CFO 35.00 X 268812 0 48007 Michael Steinberg EVP/Director Academic Programs 35.00 X 260372 0 36623 Richard Bartecki EVP Marketing 35.00 X 247549 0 31235 Richard Ian Ellis VP IT/Chief Information Officer 35.00 X 228645 0 33404 Melissa Torres VP Academic Programs & Deputy Director 35.00 X 199668 0 17178 Brian Brubaker AVP Recruiting & Advising 35.00 X 144738 0 14752 Michael Green AVP Customized Programs 35.00 X 146255 0 20653 John Coblentz Former Director 7.00 X 14888 0 0 2641001 0 384861 22 true true false E2 SERVICES 440 TREASURE DRIVE OSWEGO IL 60543 IT MANAGEMENT SERVICE PROVIDER 455014 CROWE HORWATH LLP ONE MID AMERICA PLAZA SUITE 700 OAK BROOK IL 605223697 AUDITOR/TAX PREPARER 107818 2 X 31200 543613 574813 TUITION AND FEES 900099 68865063 67931871 933192 ROOM AND BOARD 900099 16405999 16405999 MEMBER SCHOOL FEE 900099 29050 29050 TRANSCRIPT FEE 900099 10457 10457 INSTALLMENT FEE 900099 9625 9625 210 210 0 0 85320404 843191 843191 0 0 7909206 4320489 3588717 0 3588717 3588717 Gain (loss) on Settlement of Foreign Currency Contracts 900099 -3620452 -3620452 0 0 0 0 -3620452 86706673 80766760 0 5365100 2785127 2785127 31870 31870 2491184 294542 2196642 23399386 18191760 4768599 439027 1059496 619939 416395 23162 1510575 888796 566041 55738 3414248 2905271 475348 33629 290030 182417 107613 344813 246650 98163 60714 60714 28000 28000 819450 662827 155248 1375 970019 216533 625564 127922 1428980 901889 466506 60585 2926571 925965 1945643 54963 6147702 5586018 561684 5719752 4517679 1130155 71918 285699 102265 160525 22909 45 45 255773 130667 125106 344265 76841 267424 Student Housing & Meals 15373204 15373204 Student Instruction and Tuition 7539532 7539532 Student Services 2128269 2128165 60 44 Field Trips 659895 659895 932959 760356 146193 26410 80947558 65728253 14240909 978396 14319994 8524738 3186317 6898240 105099 112361 2058864 2052942 0 0 1742634 1781647 6757519 5956194 1113790 801325 32482953 35661443 9796374 11179513 0 618164 6054 65424189 67018263 6061604 5998886 4265307 4181469 0 0 2730499 10326911 12910854 X 53266201 52075292 547955 644541 1283122 1387576 55097278 54107409 65424189 67018263 X 5759115 -2093378 -4655606 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 43825507 92947 6699903 74580 1427964 49115813 41067081 136252 3084904 32607 430123 43825507 1081817 37043106 5169155 7663 2219334 41067081 951768 152413 -1164 12569 8631 1081817 637105 161460 161195 9911 -1919 951768 0.9604 0.0283 0.0113 false false 1312709 1253948 58761 3665859 3037516 628343 1778951 1664730 114221 801325 Partnership Investments 6891272 F Hedge Funds 4288241 F 11179513 Accrued Loss on Forward Contracts 2730499 2730499 78453644 -2093378 0 -2093378 80547022 6159651 6159651 86706673 78130561 0 0 78130561 2816997 2816997 80947558 Schedule D, Part V, Line 4 Intended uses of endowment funds The purpose of the endowment fund is to facilitate donors' desires to make substantial long-term gifts to IES. In so doing, the endowment fund will provide a secure, long-term source of funds to fund student scholarships. Schedule D, Part XI, Line 4(b) Other revenues in form 990 not in audited financial statements Financial Aid for Students - 2816997 Unrealized Losses on Foreign Currency - 3342654 Schedule D, Part XII, Line 4(b) Other expenses in form 990 not in audited financial statements Financial Aid for Students - 2816997 true true true true true true true false false false false false false false false false true Schedule E, Part I, Line 3 RACIALLY NONDISCRIMINATORY POLICY IES does not advertise through newspaper or broadcast media. Hence, we do not publicize our racially nondiscriminatory policy through this means. However, IES does publicize its racially nondiscriminatory policy through the same means that it advertises its programs to students: website, study abroad fairs, direct communications with students, universities' study abroad offices and consortium members. Schedule E, Part I, Line 4(d) RECORDS AND COPIES MAINTAINED BY THE ORGANIZATION Schedule E, Part I, Line 5(h) DISCRIMINATION BY RACE Schedule E, Part I, Line 6(a) FINANCIAL AID OR ASSISTANCE FROM A GOVERNMENT Schedule E, Part I, Line 6(b) REVOCATION OR SUSPENSION OF GOVERNMENTAL AID OR ASSISTANCE Schedule E, Part I, Line 7 RACIAL NONDISCRIMINATION REQUIREMENTS true East Asia and the Pacific 8 23 Program Services EDUCATION/CURRICULUM 8099875 Europe (Including Iceland and Greenland) 20 115 Program Services EDUCATION/CURRICULUM 43191888 South Asia 1 4 Program Services EDUCATION/CURRICULUM 533887 South America 4 21 Program Services EDUCATION/CURRICULUM 5277315 Central America and the Caribbean 0 0 Investments 4288241 Middle East and North Africa 1 3 Program Services EDUCATION/CURRICULUM 738587 Central America and the Caribbean 0 0 Program Services EDUCATION/CURRICULUM 190573 Sub-Saharan Africa 1 4 Program Services EDUCATION/CURRICULUM 1543470 Europe (Including Iceland and Greenland) 0 0 Grantmaking 31870 35 170 0 0 35 170 63895706 0 63895706 INTERNATIONAL PARTNER UNIVERSITY SCHOLARSHIPS Europe (Including Iceland and Greenland) 2 31870 Discounted Tuition true false true false false false Schedule F, Part I, Line 2 Procedures for monitoring use of grant funds One of IES' Scholarships was offered to an IES Abroad partner institution located in one of our study abroad locations. This scholarship has been negotiated with the foreign institution as part of IES Abroad's master agreements with them and is used by students from the partner institution to attend an IES Abroad program in another of our foreign locations. The scholarships cover all program fees and are directly credited to the students' accounts. Schedule F, Part I, Line 2 PROCEDURES FOR MONITORING USE OF GRANT FUNDS One of IES' Scholarships was offered to an IES Abroad partner institution located in one of our study abroad locations. This scholarship has been negotiated with the foreign institution as part of IES Abroad's master agreements with them and is used by students from the partner institution to attend an IES Abroad program in another of our foreign locations. The scholarships cover all program fees and are directly credited to the students' accounts. X X X X X X true ARDENT COMMUNICATIONS INC 1141 W MADISON STREET SUITE 200 CHICAGO IL 60607 MAIL SOLICITATION false 43700 78259 -34559 WILSON-BENNETT TECHNOLOGY INC 140 PROFESSIONAL DRIVE SUITE 2 CABOT AZ 72023 PHONE SOLICITATION false 5200 18555 -13355 THE STELTER COMPANY 10435 NEW YORK AVENUE DES MOINES IA 50322 MAIL SOLICITATION false 0 16294 -16294 JOHN COBLENTZ 975 OXFORD ROAD GLEN ELLYN IL 60137 DIRECT SOLICITATION false 0 15782 -15782 48900 128890 -79990 AL AK AZ AR CA CO CT DC FL GA HI ID IL IA KS KY LA ME MD MA MI MN MS MO NV NH NJ NM NY NC ND OH OK PA RI SC SD TN UT VA WV WI true MERIT SCHOLARSHIPS AWARDED TO STUDENTS 59 140500 NEED-BASED SCHOLARSHIPS AWARDED TO STUDENTS 353 589099 TO STUDENTS FROM HISTORICALLY BLACK SCHOOLS 27 54000 PUBLIC UNIVERSITY GRANT 1005 1561500 SUMMER NEED BASED AID 91 65000 LEGACY SCHOLARSHIPS 59 56500 VIENNA CENTER MUSIC SCHOLARSHIP 1 4000 UNIVERSITY OF CANTERBURY STUDY ABROAD SCHOLARSHIP 13 23732 BOREN AND GILMAN SCHOLARSHIP SUPPORT GRANTS 31 26000 SUMMER SCHOLARS 23 170118 CHICAGO SCHOLARS 6 60000 Donor Funded Scholarships 18 24500 Newberry Fellowships 2 10178 Schedule I, Part I, Line 2 Description Of Procedure For Monitoring Use Of Grant Funds Awards are given to U.S. students or U.S. schools in the form of grants or scholarships for the express purpose of studying abroad through one of IES' study abroad programs. Grants and scholarships are awarded to students via a direct reduction in their billed tuition for the term under which the grant or scholarship applies. The use of these grants and scholarships is limited in that monies can only be applied to tuition costs related to the specific IES program a recipient is enrolled in. When IES provides a student with any other grant or assistance for travel expenses related to one of its study abroad programs, the recipient would be required to provide IES with substantiation to ensure the funds were used for the intended purpose. The Summer Scholars Scholarships are offered to some IES Abroad partner institutions located in several of our study abroad locations. These scholarships have been negotiated with various partner institutions as part of our master agreement with them and are used by students from the partner institution to attend a U.S. University. IES Abroad pays directly, all the costs of tuition, room and board, and student activities. Newberry Fellowship is awarded to foreign faculty to perform research in the United States. The recipients are provided a stipend and IES directly pays for all travel costs. Schedule I, Part III, Column (b) Merit Scholarships awarded to students Merit-Based Scholarships are open to any student attending an accredited college or university that is a member or associate member of the IES Abroad Consortium. In addition, the home school must have a policy of transferring a minimum of 75% of institutional aid to pay for study abroad. The Scholarships are awarded in 18 different academic categories on the basis of academic merit as determined by various panels of reviewers from local academic institutions. Students must have a minimum cumulative GPA of 3.3 and submit a transcript, academic statement, an academic letter of recommendation and other materials depending on the category. 59 Merit-Based Scholarships were awarded in the 2014-15 academic year. Awards ranged in amount from $750 to $5000. Merit-Based Scholarships are given to students in the form of a credit on their IES Abroad invoice to be used against tuition, housing or other charges. Schedule I, Part III, Column (b) Summer Need Based Aid Summer Need-Based Scholarships are open to students attending a school that is a member or associate member of the IES Abroad Consortium. Applicants submit detailed list of financial aid they currently receive from their home institution. IES Abroad categorizes the level of need and corresponding award. 91 Summer Need-Based Scholarships were awarded in the 2014 summer term. Awards ranged from $500 to $1000. Awards are given in the form of a credit on their IES Abroad invoice to be used against tuition, housing or other charges. Schedule I, Part III, Column (b) Need-based Scholarships awarded to students Need-Based Scholarships are open to any student attending a private college or university that is a member or associate member of the IES Abroad Consortium. In addition, the home school must have a policy of transferring a minimum of 75% of institutional aid to pay for study abroad. Applicants submit an application detailing the type of financial aid they are current receiving from their home institution (if any). IES Abroad then makes a determination as to the level of need which determines the amount of an award, if any. The higher the demonstrated need, the higher the award. 353 Need-Based Scholarships were awarded in the 2014-15 academic year. Awards ranged in amount from $500 to $3000. Need-Based Scholarships are given to students in the form of a credit on their IES Abroad invoice to be used against tuition, housing or other charges. Schedule I, Part III, Column (b) TO STUDENTS FROM HISTORICALLY BLACK SCHOOLS The HBCU Scholarships are automatically awarded to any HBCU that is a member or associate member of the IES Abroad Consortium. In addition, the home school must have a policy of transferring a minimum of 75% of institutional aid to pay for study abroad. No application is required. $1500 is credited against tuition, housing or other charges to a student's invoice. Also, students submit of a copy of their international flight itinerary and receive a $500 travel reimbursement in the form of a check. Total award is $2000. 27 HBCU Scholarships were awarded in the 2014-15 academic year. Schedule I, Part III, Column (b) Public University Grants Public University Grants are automatically awarded to any student attending a public university that is a member or associate member of the IES Abroad Consortium. No application is required. 1,005 Public University Grants in the amount of $1500 each were awarded in the 2014-15 academic year. Public University Grants are given to students in the form of a credit on their IES Abroad invoice to be used against tuition, housing or other charges. A pilot project was started with UT Austin during the 2014-15 academic year. This project awards UT Austin a block grant of funding equal to their total public university grant amount from the previous year. They can award the funds to students as they see fit, focusing on the most needy students. Schedule I, Part III, Column (b) Legacy Scholarships Legacy Scholarships are open to any student attending a school that is a member or associate member of the IES Abroad Consortium and whose parent, legal guardian, grandparent, or sibling attended a past IES program. Applications are evaluated to determine legacy validity. Overall financial aid budget determines the number of awards per term. 59 Legacy Scholarships were awarded in the 2014-15 academic year. Awards ranged from $500 to $1,000. Scholarships are credited to student's invoice against tuition, housing or other charges. Schedule I, Part III, Column (b) Vienna Center Music Scholarship This scholarship is offered to a student currently studying violin at the IES Abroad Vienna. Awards are given in the form of a credit on their IES Abroad invoice to be used against tuition, housing or other charges. 1 scholarship was awarded in the 2014-15 academic year. Schedule I, Part III, Column (b) University of Canterbury Study Abrad Scholarship This scholarship is offered by the University of Canterbury to incoming study abroad students. Applicants must submit a transcript, letter of recommendation and personal academic statement. Winners are chosen by IES Abroad. Awards are credited to the invoice sent from the University of Canterbury to IES Abroad. In turn, IES Abroad credits the individual student's invoice with the award amount after conversion from NZ$ to US$. 13 scholarships were awarded in 2014-15. Schedule I, Part III, Column (b) Boren and Gilman Scholarship Support Grants These grants are available to any student that is a recipient of a Boren or Gilman Scholarship and who attend a school that is a Member or Associate Member of the IES Abroad Consortium that transfers at least 75% of institutional aid to pay for study abroad. Applicants must submit a paper application, proof of scholarship and a 500 word statement explaining how the study abroad experience will complement academic and personal goals and how the Boren or Gilman Scholarship will help facilitate this. 20 grants of $1000 each are available for Fall and Spring, and 20 grants of $500 each are available for summer. Scholarships are credited to student's invoice against tuition, housing or other charges. 31 grants were awarded during the 2014-15 academic year. Schedule I, Part III, Column (b) Chicago Scholars IES Abroad has an agreement with Chicago Scholars to offer tuition and stipend support to select students. Recipients of IES Abroad support are recruited by the IES Abroad Diversity Coordinator. For the 2014-15 academic year, 6 students received tuition support of $8000 each, which is credited to the students' invoice against tuition, housing or other charges, and a $2000 stipend issued as a check in the student's name. Schedule I, Part III, Column (b) Summer Scholars Scholarships are offered to some IES Abroad partner institutions located in several of our study abroad locations. These scholarships have been negotiated with various partner institutions as part of our master agreement with them and are used by students from the partner institution to attend a U.S. University. IES Abroad pays directly, all the costs of tuition, room and board, and student activities. Schedule I, Part III, Column (b) Newberry Fellowship This is a month long fellowship that is awarded by the IES Abroad Faculty Development Committee to two faculty members each year. Research is conducted at the Chicago Newberry Library. At the end of the term, the recipients' research and findings are presented to IES Abroad. IES Abroad pays, directly, all the costs of travel, insurance, and housing, and issues a grant of $1,200 grant to each recipient. Schedule I, Part III, Column (b) Donor Funded Scholarships Various donors have contributed funds to be used specifically for student scholarships. Each scholarship has individual requirements and award amounts, ranging from $500 to $2000. For the 2014-15 academic year, 18 students received a total of $24,500. Most awards are given to students in the form of a credit on their IES Abroad invoice to be used against tuition, housing or other charges. One category provides a check for $500. Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. Awards are given to U.S. students or U.S. schools in the form of grants or scholarships for the express purpose of studying abroad through one of IES' study abroad programs. Grants and scholarships are awarded to students via a direct reduction in their billed tuition for the term under which the grant or scholarship applies. The use of these grants and scholarships is limited in that monies can only be applied to tuition costs related to the specific IES program a recipient is enrolled in. When IES provides a student with any other grant or assistance for travel expenses related to one of its study abroad programs, the recipient would be required to provide IES with substantiation to ensure the funds were used for the intended purpose. The Summer Scholars Scholarships are offered to some IES Abroad partner institutions located in several of our study abroad locations. These scholarships have been negotiated with various partner institutions as part of our master agreement with them and are used by students from the partner institution to attend a U.S. University. IES Abroad pays directly, all the costs of tuition, room and board, and student activities. Newberry Fellowship is awarded to foreign faculty to perform research in the United States. The recipients are provided a stipend and IES directly pays for all travel costs. X X X true true X X X X X false true false false false false false false false Dr Mary M Dwyer Director/President 689739 0 0 0 19035 0 116013 0 19958 0 844745 0 0 0 John Coblentz Former Director 14888 0 0 0 0 0 0 0 0 0 14888 0 0 0 William Hoye EVP/Chief Operating Officer 416877 0 0 0 4423 0 22100 0 24938 0 468338 0 0 0 William Martens VP Finance/CFO 268114 0 0 0 698 0 24700 0 23307 0 316819 0 0 0 Michael Steinberg EVP/Director Academic Programs 254575 0 0 0 5797 0 24457 0 12166 0 296995 0 0 0 Richard Bartecki EVP Marketing 224105 0 22396 0 1048 0 20527 0 10708 0 278784 0 0 0 Richard Ian Ellis VP IT/Chief Information Officer 228069 0 0 0 576 0 19818 0 13586 0 262049 0 0 0 Melissa Torres VP Academic Programs & Deputy Director 199347 0 0 0 321 0 6469 0 10709 0 216846 0 0 0 Brian Brubaker AVP Recruiting & Advising 128603 0 16000 0 135 0 0 0 14752 0 159490 0 0 0 Michael Green AVP Customized Programs 136049 0 10000 0 206 0 14150 0 6503 0 166908 0 0 0 Schedule J, Part I, Line 1a First-class or charter travel Uncompensated Board Directors are required to fly economy class on behalf of the organization. IES does allow for business-class travel of a board member when required for health reasons as prescribed in writing by a licensed physician. If business class is unavailable in that market, first-class may be substituted. Also, first-class fares are permitted when there is no fare difference between first-class and coach fare or there are limited flight options and there is no fare difference between first-class and business-class. Schedule J, Part I, Line 1a Tax indemnification and gross-up payments The organization's President and Chief Operating Officer have their own supplemental long term disability insurance for which IES reimburses them. The organization then pays the tax attributable to the reimbursement on behalf of the organization's President and COO. THE BENEFITs Were INCLUDED IN taxable compensation. Schedule J, Part I, Line 1a Health or social club dues or initiation fees The organization reimburses for the President's health club membership. THE BENEFIT WAS INCLUDED IN THE President's W-2 taxable compensation. Schedule J, Part I, Line 4b Supplemental nonqualified retirement plan Mary M. Dwyer, President, 457(f) plan - $86,627 Form 990, Part VI, Line 1a Delegate broad authority to a committee The Executive Committee shall consist of the Chair of the Board of Directors, the two Vice Chairs, the President, and not more than two other Directors elected as a member of the Executive Committee by a majority of the Board of Directors. The Executive Committee shall have and exercise the authority of the Board of Directors in the management of the corporation except as limited by the provisions of the "General Not for Profit Corporation Act" of the State of Illinois or by any resolution duly adopted by the Board of Directors specifically reserving unto itself any stated acts, decisions or powers. Form 990, Part VI, Line 11b Review of form 990 by governing body The appropriate members of IES management and the Chair of IES-Abroad's Audit Committee review the full form 990 in detail in conjunction with the organization's independent paid tax preparers. Subsequent to this review, a full copy of the Form 990 is distributed to each member of the Board of Directors prior to filing with the IRS. Form 990, Part VI, Line 12c Conflict of interest policy In accordance with IES Abroad's Conflict of Interest Policy, all officers, directors, and key employees must complete and submit an annual conflict of interest form and disclose all potential or actual conflicts of interest. The forms completed by directors are reviewed by the chair of the Governance Committee of the Board, Human Resources, and the President/CEO. The chair of the Governance Committee reports any conflicts involving board members or the president/CEO to the full board each year. The chair of the Board of Directors also reviews the completed conflict of interest forms submitted by the President and CEO each year. The President/CEO reviews all other officers' conflict of interest forms. The Human Resources Department reviews the conflict of interest forms completed and submitted by all other officers and key employees of IES Abroad. If it is discovered that a board member has a conflict of interest during board or committee deliberations, then the affected board member must recuse himself or herself from the relevant issue, deliberations, and decision-making process. Other measures can occur in order to adequately manage a Board or staff member's conflicts of interest. Those involving Board members' conflicts can be determined by the Board Governance Committee and approved by the Board Executive Committee and the full Board as necessary. Individual conflict of interest forms completed by IES officers and key employees are placed in confidential files maintained by IES Abroad's Human Resources Department. Form 990, Part VI, Line 15a Process to establish compensation of top management official IES Abroad's Board Executive Committee, acting as the Board Compensation committee, reviews and approves the compensation of IES Abroad vice presidents and officers annually. The Board Executive Committee is comprised of the elected board chair, the elected vice chairs, two other board members and the President/CEO. The Executive Committee reviews the external compensation information described in the following paragraphs to set compensation. The President/CEO recuses herself from any discussions regarding the setting of her own compensation. At least every 4 years, IES Abroad retains an independent, outside compensation review firm to evaluate the company's vice presidents' and officers' compensation. The independent firm uses market surveys and other resources to compare the compensation of IES Abroad vice presidents and officers and positions to similar (or identical) positions at other organizations with similar annual revenues, comparable annual enrollments, comparable numbers of employees, and comparable levels and complexities of job responsibilities, in order to establish a benchmark for reasonable compensation. IES Abroad most recently retained an outside compensation review firm for the vice president's and other officers' (including President/CEO) compensation in April 2014. The overarching goal of IES Abroad's compensation policy is designed to achieve compensation levels for its vice presidents and officers at competitive market rates. It is Board policy to define competitive market rates at the 65th percentile (vice presidents, except Marketing), the 75th percentile (EVP of Marketing), and 85th percentile (President/CEO) of the market salary by position as determined by national surveys. Annually, IES reviews the performance of each of its vice presidents and officers. The Human Resources Department annually monitors salaries of all headquarters, U.S. based employees based upon the review of several national, 3rd party compensation survey reports. Once approved by the Board Executive Committee on an annual basis, compensation decisions made by the Executive Committee for vice presidents are presented to the full board of directors. Separately, the Executive Committee of the Board recommends compensation for the President/CEO to the full Board that in turn votes on the President's/CEO's compensation. The full Board votes on the compensation of the President/CEO on an annual basis. Vice presidents and officers never take part in the discussions regarding the setting of their own compensation. The chair of the Board of Directors documents the above process to the department of Human Resources on an annual basis. The compensation package of some of the organization's vice presidents and officers are documented in a written employment contract. Form 990, Part VI, Line 15b Process to establish compensation of other employees Please see the narrative for Form 990, Part VI, Section B, Line 15a Form 990, Part VI, Line 19 Required documents available to the public Financial statements, governing documents, and conflict of interest policies are not required disclosures pursuant to Internal Revenue Code (IRC) Section 6104. These documents are not available to the public at this time. Form 990, Part VIII, Line 2f Other Program Service Revenue Returned check fee - Total Revenue: 210, Related or Exempt Function Revenue: 210, Unrelated Business Revenue: , Revenue Excluded from Tax Under Sections 512, 513, or 514: ; Form 990, Part XI, Line 9 Other changes in net assets or fund balances Foreign Currency Translation Adjustment - -1312952; Realized and Unrealized losses on Foreign Currency - -3342654; STITCHING IES AMSTERDAM OUDEZIJDS ACHTERBURGWAL 185 AMSTERDAM NL 1012 DK ABROAD PROG NL 23296 206862 IES INSTITUTE FOR THE INTERNATIONAL EDUCATION OF STUDENTS PTY LTD 33 W MONROE ST STE 2300 CHICAGO IL 60603 ABROAD PROG AS 0 0 IES IES ABROAD BRASIL AV RIO BRANCO 1 ANDAR 12 CENTRO RIO DE JANEIRO BR 20.090003 981137773 ABROAD PROG BR -607 64895 IES INSTITUTE FOR INTL ED OF STUDENTS - SF (CAPE TOWN) STEVE BIKO BUILDING UPPER CAMPUS UNIVERSITY OF CAPE TOWN RONDEBOSCH SF 7701 ABROAD PROG SF 13197 113861 IES PATHWAYS GLOBAL CONSULTING (BEIJING) CO LTD RM 4052 LINGLONG TOWER ENJI ZHUANG BEIJING NO 46, F-HAIDIAN CH 981135340 ABROAD PROG CH 3231 342052 IES SOCIETY FOR THE INTL ED OF STUDENTS (DELHI) C-54 NEETI BAGH NEW DELHI IN 110049 ABROAD PROG IN 0 0 IES IES ABROAD INDIA PRIVATE LIMITED (IES INDIA) C-54 NEETI BAGH NEW DELHI IN 110049 981135334 ABROAD PROG IN -4733 50146 IES FONDAZIONE IES ABROAD ITALY LUNGOTEVERE TOR DI NONA 7 ROME IT 00186 981198420 ABROAD PROG IT 18826 906153 IES IES ABROAD JAPAN CENTERS 1-7-1 NAKASE SCED BLDG 3F MIHAMA-KU CHIBASHI JA 2610023 981079733 ABROAD PROG JA 7 430555 IES LONDON CENTRE OF THE INST EUROPEAN STUDIES 5 BLOOMSBURY PLACE LONDON UK WC1A 2QP ABROAD PROG UK 714055 2076156 IES IES ABROAD (RABAT) 89 AVENUE MOULAY ISMAIL RABATHASSAN MO 10006 ABROAD PROG MO 1192 199517 IES IES NANTES ASSOCIATION 7 RUE DES CADENIERS NANTES FR 44000 ABROAD PROG FR 0 129263 IES Association IES Abroad Nice 4 BOULEVARD CARABACEL NICE FR 06046 981257970 ABROAD PROG FR 0 72 IES ASSOCIATION D'IES ABROAD-PARIS 77 RUE DAGUERRE PARIS FR 75014 ABROAD PROG FR 311 673782 IES IES FOUNDATION (QUITO ECUADOR) REPUBLICA DE EL SALVADOR Y MOSCU EDIFICIO SAN SALVADOR QUITO EC N34229 ABROAD PROG EC 0 109902 IES THE INST FOR THE INTL ED OF STUDENTS (SPAIN) AVENIDA DE SENECA NUMERO 7 MADRID SP 28040 ABROAD PROG SP 1220 1250019 IES IES ABROAD PATHWAYS LLC 33 W MONROE ST STE 2300 CHICAGO IL 606035405 981135334 ABROAD PROG DE 0 0 IES