2015-02-13T15:38:21-06:00 2014-03-31 042571780 ALEXANDER ARONSON FINNING & CO PC 21 EAST MAIN STREET WESTBORO MA 01581 990 2013-04-01 042103651 AMERICAN ACADEMY OF ARTS AND SCIENCES AMER 6175765000 136 IRVING STREET CAMBRIDGE MA 02138 MARK ROBINSON CHIEF OPERATING OFFICER 6175765000 2015-02-13 1 DAVID J KELLEHER CPA P01059560 5083669100 2013 2016-02-25 16:41:14Z MARK ROBINSON 136 IRVING STREET CAMBRIDGE MA 02138 22436766 0 X WWW.AMACAD.ORG X 1780 MA THE AMERICAN ACADEMY OF ARTS AND SCIENCES IS AN INDEPENDENT POLICY RESEARCH CENTER THAT CONDUCTS MULTIDISCIPLINARY STUDIES OF COMPLEX AND EMERGING PROBLEMS. CURRENT ACADEMY RESEARCH FOCUSES ON SCIENCE AND GLOBAL SECURITY, SOCIAL POLICY, THE HUMANITIES AND CULTURE, AND EDUCATION. 13 13 44 650 0 0 9600193 7948754 833128 763992 1030114 2395358 0 0 11463435 11108104 0 330971 0 0 4354256 3966734 0 0 954823 4168904 7380086 8523160 11677791 2940275 -569687 71082518 73057297 4134688 4186677 66947830 68870620 X THE AMERICAN ACADEMY OF ARTS AND SCIENCES IS A NATIONAL HONORARY SOCIETY FOUNDED IN 1780 BY JOHN ADAMS AND OTHER LEADERS OF THE MASSACHUSETTS BAY COLONY. ITS APPROXIMATELY 4,600 FELLOWS INCLUDE DISTINGUISHED SCHOLARS, PRACTITIONERS, BUSINESS LEADERS, AND PUBLIC OFFICIALS. THE PRINCIPAL ACTIVITY OF THE ACADEMY IS TO SPONSOR INTERDISCIPLINARY STUDIES ON TOPICS IN THE PUBLIC INTEREST. REPORTS OF SUCH PROJECTS APPEAR IN THE ACADEMY'S QUARTERLY JOURNAL, "DAEDALUS", AND IN OTHER PUBLICATIONS. 0 0 3001654 330971 ACADEMY PROJECTS AND STUDIES - CONSISTS OF STUDIES AND OTHER ACADEMIC ENDEAVORS FUNDED FROM INTERNAL AND EXTERNAL SOURCES. 1791624 77041 PROJECT OUTREACH AND EVENTS - INCLUDES CONFERENCES, SYMPOSIA, MEETINGS AND OTHER ACTIVITIES FOR THE ACADEMY MEMBERSHIP AND OTHER INTERESTED PARTIES ON TOPICS RELATED TO PROJECTS AND OTHER WORK. 1420495 552413 HOUSE AND CONFERENCE SERVICES - INCLUDES MAINTENANCE OF THE ACADEMY'S MAIN FACILITY AS WELL AS USE OF THE FACILITY FOR FUNCTIONS. 869186 134538 PROJECT PUBLICATIONS AND COMMUNICATIONS - COMPRISES THE PUBLISHING OF THE QUARTERLY JOURNAL, "DAEDALUS", THE QUARTERLY MAGAZINE, "BULLETIN", BOOKS AND OTHER OCCASIONAL PAPERS RELATED TO THE PROJECTS, STUDIES AND OTHER WORK OF THE ACADEMY. ACADEMY PUBLICATIONS EFFORTS ALSO INCLUDE COMMUNICATION ACTIVITIES TO THE ACADEMY MEMBERS, PUBLIC OFFICIALS AND OTHER INTERESTED PARTIES. MEMBERSHIP AND ELECTIONS - CONSISTS OF ACTIVITIES RELATED TO THE MAINTAINING OF THE HONORARY SOCIETY AND ELECTING FELLOWS TO THE ACADEMY. 869186 134538 7082959 1 1 0 0 0 0 0 1 0 1 1 0 0 1 0 1 0 1 0 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 36 0 1 44 1 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 1 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 MA X X X AMERICAN ACADEMY OF ARTS AND SCIENCES 6175765000 136 IRVING STREET CAMBRIDGE MA 02138 LESLIE BERLOWITZ FORMER PRESIDENT & CEO 80.00 X X 555651 0 64358 LOUIS W CABOT FORMER CHAIR 1.00 X X 0 0 0 JERROLD MEINWALD SECRETARY 1.00 X X 0 0 0 DON M RANDEL CHAIR OF THE BOARD 1.00 X X 0 0 0 DIANE P WOOD VICE CHAIR OF BOARD 1.00 X X 0 0 0 ALAN M DACHS VICE CHAIR OF BOARD 1.00 X X 0 0 0 CARL H PFORZHEIMER III TREASURER 1.00 X X 0 0 0 NANCY ANDREWS MEMBER 1.00 X 0 0 0 DAVID B FROHNMAYER MEMBER 1.00 X 0 0 0 HELENE L KAPLAN MEMBER 1.00 X 0 0 0 NANNERL O KEOHANE MEMBER 1.00 X 0 0 0 ROGER B MYERSON MEMBER 1.00 X 0 0 0 VENKATESH NARAYANAMURTI MEMBER 1.00 X 0 0 0 PAULINE YU MEMBER 1.00 X 0 0 0 SUSAN HOCHFIELD FORMER MEMBER 1.00 X 0 0 0 SAMUEL L THEIR FORMER MEMBER 1.00 X 0 0 0 NEAL F LANE FORMER MEMBER 1.00 X 0 0 0 GERALD EARLY FORMER MEMBER 1.00 X 0 0 0 EMILIO BIZZI FORMER MEMBER 1.00 X 0 0 0 ROBERT P HENDERSON FORMER TREASURER 1.00 X X 0 0 0 MARY BRANDT DIR. OF EXTERNAL AFFAIRS 50.00 X 212573 0 38502 MARK ROBINSON CHIEF OPERATING OFFICER 50.00 X 201477 0 34363 PHYLLIS BENDELL EDITOR 50.00 X 134972 0 35140 JOHN TESSITORE PROGRAM DIRECTOR 50.00 X 101057 0 24334 STEVEN W DANSBY DIRECTOR OF FINANCE 50.00 X 135529 0 20407 1341259 0 217104 8 0 1 0 CHOATE HALL STEWART LLP 2 INTERNATIONAL PLACE BOSTON MA 02110 LEGAL SERVICES 1207561 FOLEY HOAG LLP 155 SEAPORT BLVD BOSTON MA 02210 LEGAL SERVICES 578661 RESTAURANT ASSOCIATES 132 WEST 31ST STREET NEW YORK NY 10001 CATERING 254057 ROPES GRAY LLP 800 BOYLSTON STREET BOSTON MA 02199 LEGAL SERVICES 234924 UNIVERSAL WILDE INC 26 DARTMOUTH STREET WESTWOOD MA 02090 PRINTING SERVICES 217768 6 1110675 5503 6832576 7948754 NORTON WOODS FEES 900099 552413 552413 SALES PUBLICATION 511120 211579 211579 763992 1098132 1098132 12625888 11328662 1297226 1297226 1297226 11108104 763992 0 2395358 X 188763 188763 142208 142208 693828 346914 277531 69383 2674665 1873211 238801 562653 210425 104050 43903 62472 178973 171482 2011 5480 208843 128800 36972 43071 2670884 364 2669685 835 48722 48722 56379 56379 1597952 1435489 118327 44136 637180 471920 79324 85936 163147 154002 3645 5500 136243 128618 7625 393838 336066 12315 45457 668145 640179 13242 14724 61763 61763 635462 635462 76737 17310 59427 FEES AND HONORARIA 140700 140700 OTHER 92668 49013 28479 15176 PROMOTION 266 266 11677791 7082959 3640009 954823 452061 199794 12327920 14199025 773092 1072423 29185 108163 13048 8335 50252 41500 15670207 6297960 9833539 9372247 27878057 38203920 11900328 1266670 7825036 8585220 71082518 73057297 989035 1126855 3145653 3059822 4134688 4186677 X 24803799 25027435 13961431 12842669 28182600 31000516 66947830 68870620 71082518 73057297 X -569687 2333890 158587 X X 0 1 X 1 0 X 7260304 7663277 5916042 9600193 7948754 38388570 7260304 7663277 5916042 9600193 7948754 38388570 8774985 29613585 1140381 1222344 1169827 931629 1098132 5562313 43950883 3985715 0.67380 0.66820 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 34479274 2139000 3230262 1672379 38176157 31511693 3215000 1820789 2068208 34479274 34682364 150000 -1147091 2173580 31511693 31020760 2590000 3315759 2244155 34682364 23459079 532500 9012161 1915895 31020760 0.12650 0.73440 0.13910 1 0 13442814 4503636 8939178 2227393 1794324 433069 9372247 PREPAID LAND LEASE 512458 DUE FROM AFFILIATE 5054619 BENEFICIAL INTEREST IN PERPETUAL TRUST 2964515 OTHER ASSETS 53628 8585220 X PART III, LINE 1A: THE ACADEMY DOES NOT CAPITALIZE COLLECTIONS, WHICH HAVE BEEN ACQUIRED THROUGH DONATION. PART III, LINE 4: THE AMERICAN ACADEMY OF ARTS AND SCIENCE COLLECTION OF WORKS OF ART, HISTORICAL DOCUMENTS AND OBJECTS CHRONICLE THE ACADEMY'S HISTORY, MEMBERSHIP, PROGRAMS AND PUBLICATIONS FOR MORE THAN 200 YEARS. THE COLLECTION INCLUDES PUBLICATIONS, WORKS OF ART, SCIENTIFIC INSTRUMENTS AND MANUSCRIPTS DATING FROM THE EARLIEST YEARS OF OUR HISTORY. PART V, LINE 4: ACADEMY-DESIGNATED ENDOWMENTS HAVE NO EXTERNAL RESTRICTIONS BUT HAVE DESIGNATED LIMITATIONS INITIATED BY THE ACADEMY. THESE LIMITATIONS MAY BE CANCELED AT THE DIRECTION OF THE BOARD. THESE ENDOWMENTS INCLUDE, AMONG OTHER THINGS, "FUND FOR MAJOR REPAIRS" WHICH IS AN ACADEMY-DESIGNATED RESERVE FUND FOR MAJOR PROPERTY AND EQUIPMENT ADDITIONS AND REPAIRS. TEMPORARILY RESTRICTED ENDOWMENTS REPRESENT AMOUNTS RECEIVED OR COMMITTED WITH DONOR RESTRICTIONS, WHICH HAVE NOT YET BEEN EXPENDED FOR THEIR DESIGNATED PURPOSE. TEMPORARILY RESTRICTED ENDOWMENTS ALSO INCLUDE A BUILDING FUND AND THE APPRECIATION ON CERTAIN PERMANENTLY RESTRICTED ENDOWMENTS. PERMANENTLY RESTRICTED ENDOWMENTS ARE RESTRICTED AGAINST ANY EXPENDITURES OF PRINCIPAL. INCOME EARNED ON PRINCIPAL WILL BE USED FOR CERTAIN SPECIFIC PURPOSES, IF RESTRICTIONS APPLY. OTHERWISE THE INCOME EARNED ON PRINCIPAL MAY BE USED FOR GENERAL PURPOSES. THE ENDOWMENT FUNDS ARE USED TO GENERATE INCOME, BASED ON AN APPROVED SPENDING POLICY OF THE BOARD, TO SUPPORT PROGRAM AND ADMINISTRATIVE ACTIVITIES OF THE ACADEMY. PART X, LINE 2: "THE ACADEMY ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE CONSOLIDATED FINANCIAL STATEMENT REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ACADEMY HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS AT MARCH 31, 2014 AND 2013. THE ACADEMY'S INFORMATION RETURNS ARE SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS AND GENERALLY REMAIN OPEN FOR THE MOST RECENT THREE YEARS." 1 HARVARD UNIVERSITY HOLYOKE CENTER SUITE 600 1350 MASSACHUSETTS AVENUE CAMBRIDGE MA 02138 042103580 501(C)(3) 48247 0 REIMBURSEMENT FOR COSTS RELATED TO INDEPENDENT STUDY PENNSYLVANIA STATE UNIVERSITY DEPARTMENT OF HISTORY 108 WEAVER BUILDING UNIVERSITY PARK PA 168025500 246000376 501(C)(3) 47775 0 REIMBURSEMENT FOR COSTS RELATED TO INDEPENDENT STUDY SYRACUSE UNIVERSITY THE MAXWELL SCHOOL 200 EGGERS HALL SYRACUSE NY 13244 150532081 501(C)(3) 52133 0 REIMBURSEMENT FOR COSTS RELATED TO INDEPENDENT STUDY UNIVERSITY OF TEXAS 2100 COMAL STREET AUSTIN TX 78712 746000203 501(C)(3) 40608 0 REIMBURSEMENT FOR COSTS RELATED TO INDEPENDENT STUDY 4 4 INDEPENDENT STUDY GRANTS 8 142208 0 PART I, LINE 2: THE ACADEMY OF ARTS AND SCIENCES VISITING SCHOLAR PROGRAM PROVIDES RESIDENTIAL FELLOWSHIPS FOR JUNIOR FACULTY MEMBERS AND POSTDOCTORAL SCHOLARS IN THE HUMANITIES AND SOCIAL SCIENCES. HOUSED AT THE HEADQUARTERS OF THE ACADEMY, VISITING SCHOLARS PARTICIPATE IN ACADEMY-SPONSORED CONFERENCES, SEMINARS, AND INFORMAL GATHERING WHILE ADVANCING THEIR SCHOLARLY RESEARCH. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 LESLIE BERLOWITZ FORMER PRESIDENT & CEO 273000 0 0 0 282651 0 52607 0 11751 0 620009 0 129120 0 MARY BRANDT DIR. OF EXTERNAL AFFAIRS 212573 0 0 0 0 0 32051 0 6451 0 251075 0 0 0 MARK ROBINSON CHIEF OPERATING OFFICER 201477 0 0 0 0 0 21000 0 13363 0 235840 0 0 0 PHYLLIS BENDELL EDITOR 134972 0 0 0 0 0 21525 0 13615 0 170112 0 0 0 STEVEN W DANSBY DIRECTOR OF FINANCE 135529 0 0 0 0 0 13736 0 6671 0 155936 0 0 0 PART I, LINE 1A DURING FISCAL YEAR 2014, THERE WERE ROUND TRIP TICKETS PURCHASED THAT WERE EITHER FIRST CLASS OR UPGRADED TO FIRST CLASS DURING THE YEAR. THE TRAVEL WAS FOR THE BOARD CHAIR, LOUIS CABOT. FIRST CLASS TRAVEL IS ALLOWED UNDER THE POLICIES OF THE ACADEMY FOR CERTAIN OFFICERS IN CERTAIN SITUATIONS. ALL FIRST CLASS TRAVEL FOR FISCAL YEAR 2014 MET THE POLICY GUIDELINES. DURING FISCAL YEAR 2014, THE ACADEMY HAD A MEMBERSHIP IN THE CEO'S NAME AT THE CENTURY CLUB IN NEW YORK. THE CLUB WAS USED EXCLUSIVELY FOR ACADEMY RELATED FUNCTIONS. A MASSACHUSETTS HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 042456011 57586ELD1 2009-08-01 3374212 REFINANCE OF PRE-EXISTING TAX EXEMPT DISTRIBUTION 0 0 1 A 85831 48852 2009 1 0 1 1 A 0 0 0 0 0.35000 0.35000 0 0 1 A 0 1 0 0 1 0 0 0 0 A 0 LESLIE BERLOWITZ FORMER PRESIDENT & CEO (RESIGNED ON 7/31/13) EXCESS COMPENSATION PAID IN 2013. SEE NARRATIVE EXPLANATION BELOW. 0 26934 0 SCHEDULE L, PART I, LINE 1 LESLIE C. BERLOWITZ RESIGNED FROM HER POSITION AS PRESIDENT OF THE ACADEMY ON JULY 31, 2013. AS PART OF A NEGOTIATED SETTLEMENT FOR HER RESIGNATION AND SURRENDER OF CLAIMS, SHE RECEIVED A PAYMENT OF ACCRUED SALARY, DEFERRED COMPENSATION, UNUSED VACATION DAYS, AND HEALTH INSURANCE PREMIUMS. PAYMENTS RELATED TO DEFERRED COMPENSATION AND UNUSED VACATION DAYS THAT ACCRUED IN PRIOR YEARS WERE NOT FACTORED INTO THE CALCULATION OF EXCESS COMPENSATION FOR 2013. OF THE AMOUNT PAID IN 2013, WE ESTIMATE THAT $107,737 WAS EXCESS COMPENSATION. FORM 990, PART VI, SECTION A, LINE 4 THE ACADEMY MADE 2 SETS OF CHANGES TO ITS BYLAWS SINCE IT FILED ITS FISCAL 2013 FORM 990. THE FIRST SET OF CHANGES CLARIFIED THE BOARD OF DIRECTORS' AUTHORITY, ESTABLISHED THE POSITION OF PRESIDENT, ESTABLISHED 3 YEAR TERMS FOR ITS OFFICERS AND IDENTIFIED 10 GOVERNANCE COMMITTEES. THE SECOND SET OF BYLAW CHANGES, DATED OCTOBER 8, 2014, PROVIDED ADDITIONAL CLARIFICATION OF THE VARIOUS GOVERNING BODIES, INCREASED THE MINIMUM NUMBER OF BOARD OF DIRECTORS MEETINGS, PROVIDED FLEXIBILITY IN CREATING AN EXECUTIVE COMMITTEE AND FURTHER CLARIFIED THE TERMS OF OFFICE OF THE BOARD AND GOVERNANCE COMMITTEES. FORM 990, PART VI, SECTION A, LINE 6 THE ACADEMY'S MEMBERSHIP CONSISTS OF FELLOWS, ELECTED FROM CITIZENS OR RESIDENTS OF THE UNITED STATES OF AMERICA, AND FOREIGN HONORARY MEMBERS, ELECTED FROM CITIZENS OR RESIDENTS OF OTHER NATIONS. THE ACADEMY'S MEMBERS ARE ORGANIZED IN VARIOUS CLASSES BASED ON THE ARTS, SCIENCES, AND PROFESSIONS IN WHICH THESE MEMBERS ARE PROFICIENT. FORM 990, PART VI, SECTION A, LINE 7A FELLOWS IN GOOD STANDING MAY NOMINATE AND VOTE FOR OFFICERS, DIRECTORS, AND COUNCIL MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY MEMBERS OF SENIOR STAFF, THE CHAIR OF THE BOARD, THE TREASURER AND THE AUDIT COMMITTEE. THE BOARD OF DIRECTORS REVIEWS AND APPROVES THE FINAL FORM OF THE RETURN BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST STATEMENTS ARE UPDATED ANNUALLY BY THE BOARD, TRUSTEE, AND PROJECT FELLOWS. FORM 990, PART VI, SECTION B, LINE 15A THE ACADEMY'S COMPENSATION COMMITTEE CONSISTED OF THE CHAIR OF THE BOARD, CHAIR OF THE FINANCE COMMITTEE, AND CHAIR OF THE NOMINATING & GOVERNANCE COMMITTEE AND MET ANNUALLY TO REVIEW THE PERFORMANCE AND DETERMINE THE SALARY OF THE PRESIDENT & CEO ON BEHALF OF THE BOARD. THE COMMITTEE UTILIZED 990 FORMS OF LIKE ORGANIZATIONS TO DETERMINE APPROPRIATENESS OF STAFF SALARIES. THE SALARY BUDGET FOR EACH FISCAL YEAR WAS APPROVED BY THE FINANCE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE ACADEMY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G EDITING: PROGRAM SERVICE EXPENSES 46,250. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 46,250. BUILDING AND GROUNDS REPAIRS AND MAINTENANCE: PROGRAM SERVICE EXPENSES 291,829. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 291,829. SECURITY SERVICES: PROGRAM SERVICE EXPENSES 61,598. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 61,598. PROGRAM CONSULTING: PROGRAM SERVICE EXPENSES 520,213. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 520,213. AGENCY PLACEMENT: PROGRAM SERVICE EXPENSES 15,000. MANAGEMENT AND GENERAL EXPENSES 494. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 15,494. OTHER: PROGRAM SERVICE EXPENSES 500,599. MANAGEMENT AND GENERAL EXPENSES 117,833. FUNDRAISING EXPENSES 44,136. TOTAL EXPENSES 662,568. FORM 990, PART XI, LINE 9: INCREASE IN BENEFICIAL INTEREST IN PERPETUAL TRUST 158,587. FORM 990, PART XII, LINE 2C THE ACADEMY DID NOT CHANGE ITS OVERSIGHT PROCESS. NORTON'S WOODS INC 136 IRVING STREET CAMBRIDGE MA 02138 043388917 EVENT SERVICES MA AMERICAN ACADEMY OF ARTS AND SCIENCES C 216349 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 NORTON WOODS INC N 552413 FAIR MARKET VALUE