﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2013v4.0">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2015-03-27T10:37:19-00:00</ReturnTs>
    <TaxPeriodEndDt>2014-06-30</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmName>
        <BusinessNameLine1>Bennett &amp; Associates CPAs PLLC</BusinessNameLine1>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1>100 Huronview Blvd</AddressLine1>
        <City>Ann Arbor</City>
        <State>MI</State>
        <ZIPCode>48103</ZIPCode>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990</ReturnTypeCd>
    <TaxPeriodBeginDt>2013-07-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>030598838</EIN>
      <BusinessName>
        <BusinessNameLine1>Partnership for Economics Education and Research</BusinessNameLine1>
      </BusinessName>
      <BusinessNameControlTxt>PART</BusinessNameControlTxt>
      <PhoneNum>7346227000</PhoneNum>
      <USAddress>
        <AddressLine1>100 Huronview Blvd Room 200</AddressLine1>
        <City>Ann Arbor</City>
        <State>MI</State>
        <ZIPCode>48103</ZIPCode>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>Eric Livny</PersonNm>
      <PersonTitleTxt>President and Executive Director</PersonTitleTxt>
      <SignatureDt>2015-03-27</SignatureDt>
      <DiscussWithPaidPreparerInd>true</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>James H Bennett CPA</PreparerPersonNm>
      <PhoneNum>7346228015</PhoneNum>
      <PreparationDt>2015-03-27</PreparationDt>
    </PreparerPersonGrp>
    <TaxYr>2013</TaxYr>
    <BuildTS>2016-03-07 17:11:31Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCount="6">
    <IRS990 documentId="990" softwareId="13000230" softwareVersion="13.6.0.0">
      <PrincipalOfficerNm>Eric Livny</PrincipalOfficerNm>
      <ForeignAddress>
        <AddressLine1>16 Zandukeli Street</AddressLine1>
        <City>Tbilisi</City>
        <ProvinceOrState>GG</ProvinceOrState>
        <Country>GG</Country>
        <PostalCode>0108</PostalCode>
      </ForeignAddress>
      <GrossReceiptsAmt>1576769</GrossReceiptsAmt>
      <GroupReturnForAffiliatesInd>false</GroupReturnForAffiliatesInd>
      <Organization501c3Ind>X</Organization501c3Ind>
      <TypeOfOrganizationCorpInd>X</TypeOfOrganizationCorpInd>
      <FormationYr>2006</FormationYr>
      <LegalDomicileStateCd>DC</LegalDomicileStateCd>
      <ActivityOrMissionDesc>To foster economic education and research in the Republic of Georgia, Armenia, Azerbaijan and neighboring countries, in accordance with the highest academic standards of the international economics profession.</ActivityOrMissionDesc>
      <VotingMembersGoverningBodyCnt>14</VotingMembersGoverningBodyCnt>
      <VotingMembersIndependentCnt>14</VotingMembersIndependentCnt>
      <TotalEmployeeCnt>0</TotalEmployeeCnt>
      <TotalVolunteersCnt>14</TotalVolunteersCnt>
      <TotalGrossUBIAmt>0</TotalGrossUBIAmt>
      <PYContributionsGrantsAmt>347250</PYContributionsGrantsAmt>
      <CYContributionsGrantsAmt>1439987</CYContributionsGrantsAmt>
      <CYProgramServiceRevenueAmt>93888</CYProgramServiceRevenueAmt>
      <PYInvestmentIncomeAmt>26658</PYInvestmentIncomeAmt>
      <CYInvestmentIncomeAmt>4693</CYInvestmentIncomeAmt>
      <PYOtherRevenueAmt>77967</PYOtherRevenueAmt>
      <CYOtherRevenueAmt>38201</CYOtherRevenueAmt>
      <PYTotalRevenueAmt>451875</PYTotalRevenueAmt>
      <CYTotalRevenueAmt>1576769</CYTotalRevenueAmt>
      <PYGrantsAndSimilarPaidAmt>923774</PYGrantsAndSimilarPaidAmt>
      <CYGrantsAndSimilarPaidAmt>934652</CYGrantsAndSimilarPaidAmt>
      <CYBenefitsPaidToMembersAmt>0</CYBenefitsPaidToMembersAmt>
      <PYSalariesCompEmpBnftPaidAmt>324889</PYSalariesCompEmpBnftPaidAmt>
      <CYSalariesCompEmpBnftPaidAmt>323161</CYSalariesCompEmpBnftPaidAmt>
      <CYTotalProfFndrsngExpnsAmt>0</CYTotalProfFndrsngExpnsAmt>
      <CYTotalFundraisingExpenseAmt>45578</CYTotalFundraisingExpenseAmt>
      <PYOtherExpensesAmt>369853</PYOtherExpensesAmt>
      <CYOtherExpensesAmt>301404</CYOtherExpensesAmt>
      <PYTotalExpensesAmt>1618516</PYTotalExpensesAmt>
      <CYTotalExpensesAmt>1559217</CYTotalExpensesAmt>
      <PYRevenuesLessExpensesAmt>-1166641</PYRevenuesLessExpensesAmt>
      <CYRevenuesLessExpensesAmt>17552</CYRevenuesLessExpensesAmt>
      <TotalAssetsBOYAmt>1263121</TotalAssetsBOYAmt>
      <TotalAssetsEOYAmt>1298069</TotalAssetsEOYAmt>
      <TotalLiabilitiesBOYAmt>25713</TotalLiabilitiesBOYAmt>
      <TotalLiabilitiesEOYAmt>41113</TotalLiabilitiesEOYAmt>
      <NetAssetsOrFundBalancesBOYAmt>1237408</NetAssetsOrFundBalancesBOYAmt>
      <NetAssetsOrFundBalancesEOYAmt>1256956</NetAssetsOrFundBalancesEOYAmt>
      <MissionDesc>To foster economic education and research in the Republic of Georgia, Armenia, Azerbaijan and neighboring countries, in accordance with the highest academic standards of the international economics profession.</MissionDesc>
      <SignificantNewProgramSrvcInd>false</SignificantNewProgramSrvcInd>
      <SignificantChangeInd>false</SignificantChangeInd>
      <ExpenseAmt>1074591</ExpenseAmt>
      <GrantAmt>934652</GrantAmt>
      <Desc>PEERs major objective is to fund the activities and programs of the International School of Economics at Tbilisi State University in the Republic of Georgia while ensuring that it is a sustainable center of excellence in economics.</Desc>
      <ProgSrvcAccomActy2Grp>
        <ExpenseAmt>135475</ExpenseAmt>
        <RevenueAmt>93888</RevenueAmt>
        <Desc>ISET-PI - The ISET Policy Institute was founded in May 2011 by PEER with the financial support of the Think Tank Fund of the Open Society Institute. ISET-PI is one of the first university-based think tanks in the South Caucasus. It is based at the International School of Economics at TSU.</Desc>
      </ProgSrvcAccomActy2Grp>
      <TotalProgramServiceExpensesAmt>1210066</TotalProgramServiceExpensesAmt>
      <DescribedInSection501c3Ind referenceDocumentId="990A">true</DescribedInSection501c3Ind>
      <ScheduleBRequiredInd referenceDocumentId="990B">true</ScheduleBRequiredInd>
      <PoliticalCampaignActyInd>false</PoliticalCampaignActyInd>
      <LobbyingActivitiesInd>false</LobbyingActivitiesInd>
      <SubjectToProxyTaxInd>false</SubjectToProxyTaxInd>
      <DonorAdvisedFundInd>false</DonorAdvisedFundInd>
      <ConservationEasementsInd>false</ConservationEasementsInd>
      <CollectionsOfArtInd>false</CollectionsOfArtInd>
      <CreditCounselingInd>false</CreditCounselingInd>
      <TempOrPermanentEndowmentsInd>false</TempOrPermanentEndowmentsInd>
      <ReportLandBuildingEquipmentInd referenceDocumentId="990D">true</ReportLandBuildingEquipmentInd>
      <ReportInvestmentsOtherSecInd>false</ReportInvestmentsOtherSecInd>
      <ReportProgramRelatedInvstInd>false</ReportProgramRelatedInvstInd>
      <ReportOtherAssetsInd>false</ReportOtherAssetsInd>
      <ReportOtherLiabilitiesInd>false</ReportOtherLiabilitiesInd>
      <IncludeFIN48FootnoteInd referenceDocumentId="990D">true</IncludeFIN48FootnoteInd>
      <IndependentAuditFinclStmtInd>false</IndependentAuditFinclStmtInd>
      <ConsolidatedAuditFinclStmtInd referenceDocumentId="990D">true</ConsolidatedAuditFinclStmtInd>
      <SchoolOperatingInd>false</SchoolOperatingInd>
      <ForeignOfficeInd>true</ForeignOfficeInd>
      <ForeignActivitiesInd referenceDocumentId="990F">true</ForeignActivitiesInd>
      <MoreThan5000KToOrgInd referenceDocumentId="990F">true</MoreThan5000KToOrgInd>
      <MoreThan5000KToIndividualsInd referenceDocumentId="990F">true</MoreThan5000KToIndividualsInd>
      <ProfessionalFundraisingInd>false</ProfessionalFundraisingInd>
      <FundraisingActivitiesInd>false</FundraisingActivitiesInd>
      <GamingActivitiesInd>false</GamingActivitiesInd>
      <OperateHospitalInd>false</OperateHospitalInd>
      <GrantsToOrganizationsInd>false</GrantsToOrganizationsInd>
      <GrantsToIndividualsInd>false</GrantsToIndividualsInd>
      <ScheduleJRequiredInd>false</ScheduleJRequiredInd>
      <TaxExemptBondsInd>false</TaxExemptBondsInd>
      <EngagedInExcessBenefitTransInd>false</EngagedInExcessBenefitTransInd>
      <PYExcessBenefitTransInd>false</PYExcessBenefitTransInd>
      <LoanOutstandingInd>false</LoanOutstandingInd>
      <GrantToRelatedPersonInd>false</GrantToRelatedPersonInd>
      <BusinessRlnWithOrgMemInd>false</BusinessRlnWithOrgMemInd>
      <BusinessRlnWithFamMemInd>false</BusinessRlnWithFamMemInd>
      <BusinessRlnWithOfficerEntInd>false</BusinessRlnWithOfficerEntInd>
      <DeductibleNonCashContriInd>false</DeductibleNonCashContriInd>
      <DeductibleArtContributionInd>false</DeductibleArtContributionInd>
      <TerminateOperationsInd>false</TerminateOperationsInd>
      <PartialLiquidationInd>false</PartialLiquidationInd>
      <DisregardedEntityInd>false</DisregardedEntityInd>
      <RelatedEntityInd>false</RelatedEntityInd>
      <RelatedOrganizationCtrlEntInd>false</RelatedOrganizationCtrlEntInd>
      <TrnsfrExmptNonChrtblRltdOrgInd>false</TrnsfrExmptNonChrtblRltdOrgInd>
      <ActivitiesConductedPrtshpInd>false</ActivitiesConductedPrtshpInd>
      <ScheduleORequiredInd>true</ScheduleORequiredInd>
      <IRPDocumentCnt>3</IRPDocumentCnt>
      <IRPDocumentW2GCnt>0</IRPDocumentW2GCnt>
      <BackupWthldComplianceInd>true</BackupWthldComplianceInd>
      <EmployeeCnt>0</EmployeeCnt>
      <UnrelatedBusIncmOverLimitInd>false</UnrelatedBusIncmOverLimitInd>
      <ForeignFinancialAccountInd>true</ForeignFinancialAccountInd>
      <ForeignCountryCd>GG</ForeignCountryCd>
      <ProhibitedTaxShelterTransInd>false</ProhibitedTaxShelterTransInd>
      <TaxablePartyNotificationInd>false</TaxablePartyNotificationInd>
      <NondeductibleContributionsInd>false</NondeductibleContributionsInd>
      <RcvFndsToPayPrsnlBnftCntrctInd>false</RcvFndsToPayPrsnlBnftCntrctInd>
      <PayPremiumsPrsnlBnftCntrctInd>false</PayPremiumsPrsnlBnftCntrctInd>
      <IndoorTanningServicesInd>false</IndoorTanningServicesInd>
      <InfoInScheduleOPartVIInd>X</InfoInScheduleOPartVIInd>
      <GoverningBodyVotingMembersCnt>14</GoverningBodyVotingMembersCnt>
      <IndependentVotingMemberCnt>14</IndependentVotingMemberCnt>
      <FamilyOrBusinessRlnInd>false</FamilyOrBusinessRlnInd>
      <DelegationOfMgmtDutiesInd>false</DelegationOfMgmtDutiesInd>
      <ChangeToOrgDocumentsInd>true</ChangeToOrgDocumentsInd>
      <MaterialDiversionOrMisuseInd>false</MaterialDiversionOrMisuseInd>
      <MembersOrStockholdersInd>false</MembersOrStockholdersInd>
      <ElectionOfBoardMembersInd>false</ElectionOfBoardMembersInd>
      <DecisionsSubjectToApprovaInd>false</DecisionsSubjectToApprovaInd>
      <MinutesOfGoverningBodyInd>true</MinutesOfGoverningBodyInd>
      <MinutesOfCommitteesInd>true</MinutesOfCommitteesInd>
      <OfficerMailingAddressInd>false</OfficerMailingAddressInd>
      <LocalChaptersInd>false</LocalChaptersInd>
      <Form990ProvidedToGvrnBodyInd>true</Form990ProvidedToGvrnBodyInd>
      <ConflictOfInterestPolicyInd>true</ConflictOfInterestPolicyInd>
      <AnnualDisclosureCoveredPrsnInd>false</AnnualDisclosureCoveredPrsnInd>
      <RegularMonitoringEnfrcInd>false</RegularMonitoringEnfrcInd>
      <WhistleblowerPolicyInd>false</WhistleblowerPolicyInd>
      <DocumentRetentionPolicyInd>false</DocumentRetentionPolicyInd>
      <CompensationProcessCEOInd>false</CompensationProcessCEOInd>
      <CompensationProcessOtherInd>false</CompensationProcessOtherInd>
      <InvestmentInJointVentureInd>false</InvestmentInJointVentureInd>
      <StatesWhereCopyOfReturnIsFldCd>DC</StatesWhereCopyOfReturnIsFldCd>
      <OtherWebsiteInd>X</OtherWebsiteInd>
      <UponRequestInd>X</UponRequestInd>
      <BooksInCareOfDetail>
        <PersonNm>Nina Sukhanskaya</PersonNm>
        <PhoneNum>7346227000</PhoneNum>
        <ForeignAddress>
          <AddressLine1>16 Zandukeli Street</AddressLine1>
          <City>Tbilisi</City>
          <ProvinceOrState>GA</ProvinceOrState>
          <Country>GG</Country>
          <PostalCode>0108</PostalCode>
        </ForeignAddress>
      </BooksInCareOfDetail>
      <Form990PartVIISectionAGrp>
        <PersonNm>Roy Southworth</PersonNm>
        <TitleTxt>Chair</TitleTxt>
        <AverageHoursPerWeekRt>001.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>Vladimer Papava</PersonNm>
        <TitleTxt>Ex Officio Voting Member</TitleTxt>
        <AverageHoursPerWeekRt>001.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>Vache Gabrielyan</PersonNm>
        <TitleTxt>Director</TitleTxt>
        <AverageHoursPerWeekRt>001.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>David Lezhava</PersonNm>
        <TitleTxt>Director</TitleTxt>
        <AverageHoursPerWeekRt>001.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>Rusudan Medzmariashvili</PersonNm>
        <TitleTxt>Director</TitleTxt>
        <AverageHoursPerWeekRt>001.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>Shahmar Movsumov</PersonNm>
        <TitleTxt>Director</TitleTxt>
        <AverageHoursPerWeekRt>001.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>Eteri Kvintradze</PersonNm>
        <TitleTxt>Director</TitleTxt>
        <AverageHoursPerWeekRt>001.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>Randall Filer</PersonNm>
        <TitleTxt>Director</TitleTxt>
        <AverageHoursPerWeekRt>001.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>Robert Tchaidze</PersonNm>
        <TitleTxt>Ex Officio Voting Member</TitleTxt>
        <AverageHoursPerWeekRt>001.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>Paul Wachtel</PersonNm>
        <TitleTxt>Ex Officio Voting Member</TitleTxt>
        <AverageHoursPerWeekRt>001.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>Guenther Baechler</PersonNm>
        <TitleTxt>Director</TitleTxt>
        <AverageHoursPerWeekRt>001.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>Jacques Fleury</PersonNm>
        <TitleTxt>Director</TitleTxt>
        <AverageHoursPerWeekRt>001.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>Robert Tchaidze</PersonNm>
        <TitleTxt>Secretary</TitleTxt>
        <AverageHoursPerWeekRt>001.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>Brd Ivar Svendsen</PersonNm>
        <TitleTxt>Director</TitleTxt>
        <AverageHoursPerWeekRt>001.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>Eric Livny</PersonNm>
        <TitleTxt>President</TitleTxt>
        <AverageHoursPerWeekRt>040.00</AverageHoursPerWeekRt>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>144400</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>1235</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <TotalReportableCompFromOrgAmt>144400</TotalReportableCompFromOrgAmt>
      <TotalOtherCompensationAmt>1235</TotalOtherCompensationAmt>
      <IndivRcvdGreaterThan100KCnt>1</IndivRcvdGreaterThan100KCnt>
      <FormerOfcrEmployeesListedInd>false</FormerOfcrEmployeesListedInd>
      <TotalCompGreaterThan150KInd>false</TotalCompGreaterThan150KInd>
      <CompensationFromOtherSrcsInd>false</CompensationFromOtherSrcsInd>
      <GovernmentGrantsAmt>386035</GovernmentGrantsAmt>
      <AllOtherContributionsAmt>1053952</AllOtherContributionsAmt>
      <TotalContributionsAmt>1439987</TotalContributionsAmt>
      <ProgramServiceRevenueGrp>
        <Desc>ISET-PI program income</Desc>
        <BusinessCd>900099</BusinessCd>
        <TotalRevenueColumnAmt>93888</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>93888</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <TotalProgramServiceRevenueAmt>93888</TotalProgramServiceRevenueAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>4693</TotalRevenueColumnAmt>
        <ExclusionAmt>4693</ExclusionAmt>
      </InvestmentIncomeGrp>
      <OtherRevenueMiscGrp>
        <Desc>Miscellaneous Revenue</Desc>
        <BusinessCd>900099</BusinessCd>
        <TotalRevenueColumnAmt>38201</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>38201</RelatedOrExemptFuncIncomeAmt>
      </OtherRevenueMiscGrp>
      <OtherRevenueTotalAmt>38201</OtherRevenueTotalAmt>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>1576769</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>132089</RelatedOrExemptFuncIncomeAmt>
        <ExclusionAmt>4693</ExclusionAmt>
      </TotalRevenueGrp>
      <GrantsToDomesticOrgsGrp>
        <TotalAmt>0</TotalAmt>
      </GrantsToDomesticOrgsGrp>
      <GrantsToDomesticIndividualsGrp>
        <TotalAmt>0</TotalAmt>
      </GrantsToDomesticIndividualsGrp>
      <ForeignGrantsGrp>
        <TotalAmt>934652</TotalAmt>
        <ProgramServicesAmt>934652</ProgramServicesAmt>
      </ForeignGrantsGrp>
      <BenefitsToMembersGrp>
        <TotalAmt>0</TotalAmt>
      </BenefitsToMembersGrp>
      <CompCurrentOfcrDirectorsGrp>
        <TotalAmt>145635</TotalAmt>
        <ProgramServicesAmt>36409</ProgramServicesAmt>
        <ManagementAndGeneralAmt>72817</ManagementAndGeneralAmt>
        <FundraisingAmt>36409</FundraisingAmt>
      </CompCurrentOfcrDirectorsGrp>
      <CompDisqualPersonsGrp>
        <TotalAmt>0</TotalAmt>
      </CompDisqualPersonsGrp>
      <OtherSalariesAndWagesGrp>
        <TotalAmt>168509</TotalAmt>
        <ProgramServicesAmt>128860</ProgramServicesAmt>
        <ManagementAndGeneralAmt>31916</ManagementAndGeneralAmt>
        <FundraisingAmt>7733</FundraisingAmt>
      </OtherSalariesAndWagesGrp>
      <PensionPlanContributionsGrp>
        <TotalAmt>0</TotalAmt>
      </PensionPlanContributionsGrp>
      <OtherEmployeeBenefitsGrp>
        <TotalAmt>9017</TotalAmt>
        <ProgramServicesAmt>7380</ProgramServicesAmt>
        <ManagementAndGeneralAmt>921</ManagementAndGeneralAmt>
        <FundraisingAmt>716</FundraisingAmt>
      </OtherEmployeeBenefitsGrp>
      <PayrollTaxesGrp>
        <TotalAmt>0</TotalAmt>
      </PayrollTaxesGrp>
      <FeesForServicesManagementGrp>
        <TotalAmt>0</TotalAmt>
      </FeesForServicesManagementGrp>
      <FeesForServicesLegalGrp>
        <TotalAmt>4450</TotalAmt>
        <ManagementAndGeneralAmt>4450</ManagementAndGeneralAmt>
      </FeesForServicesLegalGrp>
      <FeesForServicesAccountingGrp>
        <TotalAmt>17262</TotalAmt>
        <ManagementAndGeneralAmt>17262</ManagementAndGeneralAmt>
      </FeesForServicesAccountingGrp>
      <FeesForServicesLobbyingGrp>
        <TotalAmt>0</TotalAmt>
      </FeesForServicesLobbyingGrp>
      <FeesForServicesProfFundraising></FeesForServicesProfFundraising>
      <FeesForSrvcInvstMgmntFeesGrp>
        <TotalAmt>0</TotalAmt>
      </FeesForSrvcInvstMgmntFeesGrp>
      <FeesForServicesOtherGrp>
        <TotalAmt>0</TotalAmt>
      </FeesForServicesOtherGrp>
      <AdvertisingGrp>
        <TotalAmt>4580</TotalAmt>
        <ProgramServicesAmt>3664</ProgramServicesAmt>
        <ManagementAndGeneralAmt>268</ManagementAndGeneralAmt>
        <FundraisingAmt>648</FundraisingAmt>
      </AdvertisingGrp>
      <OfficeExpensesGrp>
        <TotalAmt>65791</TotalAmt>
        <ProgramServicesAmt>43364</ProgramServicesAmt>
        <ManagementAndGeneralAmt>22355</ManagementAndGeneralAmt>
        <FundraisingAmt>72</FundraisingAmt>
      </OfficeExpensesGrp>
      <InformationTechnologyGrp>
        <TotalAmt>0</TotalAmt>
      </InformationTechnologyGrp>
      <RoyaltiesGrp>
        <TotalAmt>0</TotalAmt>
      </RoyaltiesGrp>
      <OccupancyGrp>
        <TotalAmt>0</TotalAmt>
      </OccupancyGrp>
      <TravelGrp>
        <TotalAmt>53291</TotalAmt>
        <ProgramServicesAmt>39327</ProgramServicesAmt>
        <ManagementAndGeneralAmt>13964</ManagementAndGeneralAmt>
      </TravelGrp>
      <PymtTravelEntrtnmntPubOfclGrp>
        <TotalAmt>0</TotalAmt>
      </PymtTravelEntrtnmntPubOfclGrp>
      <ConferencesMeetingsGrp>
        <TotalAmt>19486</TotalAmt>
        <ProgramServicesAmt>14649</ProgramServicesAmt>
        <ManagementAndGeneralAmt>4837</ManagementAndGeneralAmt>
      </ConferencesMeetingsGrp>
      <InterestGrp>
        <TotalAmt>0</TotalAmt>
      </InterestGrp>
      <PaymentsToAffiliatesGrp>
        <TotalAmt>0</TotalAmt>
      </PaymentsToAffiliatesGrp>
      <DepreciationDepletionGrp>
        <TotalAmt>0</TotalAmt>
      </DepreciationDepletionGrp>
      <InsuranceGrp>
        <TotalAmt>2288</TotalAmt>
        <ManagementAndGeneralAmt>2288</ManagementAndGeneralAmt>
      </InsuranceGrp>
      <OtherExpensesGrp>
        <Desc>Program grant</Desc>
        <TotalAmt>98477</TotalAmt>
        <ManagementAndGeneralAmt>98477</ManagementAndGeneralAmt>
      </OtherExpensesGrp>
      <AllOtherExpensesGrp>
        <TotalAmt>35779</TotalAmt>
        <ProgramServicesAmt>1761</ProgramServicesAmt>
        <ManagementAndGeneralAmt>34018</ManagementAndGeneralAmt>
      </AllOtherExpensesGrp>
      <TotalFunctionalExpensesGrp>
        <TotalAmt>1559217</TotalAmt>
        <ProgramServicesAmt>1210066</ProgramServicesAmt>
        <ManagementAndGeneralAmt>303573</ManagementAndGeneralAmt>
        <FundraisingAmt>45578</FundraisingAmt>
      </TotalFunctionalExpensesGrp>
      <CashNonInterestBearingGrp>
        <BOYAmt>11759</BOYAmt>
        <EOYAmt>291730</EOYAmt>
      </CashNonInterestBearingGrp>
      <SavingsAndTempCashInvstGrp>
        <BOYAmt>339408</BOYAmt>
        <EOYAmt>297416</EOYAmt>
      </SavingsAndTempCashInvstGrp>
      <PledgesAndGrantsReceivableGrp>
        <BOYAmt>891810</BOYAmt>
        <EOYAmt>609380</EOYAmt>
      </PledgesAndGrantsReceivableGrp>
      <AccountsReceivableGrp>
        <EOYAmt>77012</EOYAmt>
      </AccountsReceivableGrp>
      <PrepaidExpensesDefrdChargesGrp>
        <BOYAmt>7616</BOYAmt>
        <EOYAmt>11101</EOYAmt>
      </PrepaidExpensesDefrdChargesGrp>
      <LandBldgEquipCostOrOtherBssAmt>11430</LandBldgEquipCostOrOtherBssAmt>
      <LandBldgEquipBasisNetGrp>
        <BOYAmt>12528</BOYAmt>
        <EOYAmt>11430</EOYAmt>
      </LandBldgEquipBasisNetGrp>
      <TotalAssetsGrp>
        <BOYAmt>1263121</BOYAmt>
        <EOYAmt>1298069</EOYAmt>
      </TotalAssetsGrp>
      <AccountsPayableAccrExpnssGrp>
        <BOYAmt>19550</BOYAmt>
        <EOYAmt>19210</EOYAmt>
      </AccountsPayableAccrExpnssGrp>
      <GrantsPayableGrp>
        <BOYAmt>6163</BOYAmt>
        <EOYAmt>21903</EOYAmt>
      </GrantsPayableGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>25713</BOYAmt>
        <EOYAmt>41113</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrganizationFollowsSFAS117Ind>X</OrganizationFollowsSFAS117Ind>
      <UnrestrictedNetAssetsGrp>
        <BOYAmt>79769</BOYAmt>
        <EOYAmt>407683</EOYAmt>
      </UnrestrictedNetAssetsGrp>
      <TemporarilyRstrNetAssetsGrp>
        <BOYAmt>1157639</BOYAmt>
        <EOYAmt>849273</EOYAmt>
      </TemporarilyRstrNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>1237408</BOYAmt>
        <EOYAmt>1256956</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>1263121</BOYAmt>
        <EOYAmt>1298069</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <InfoInScheduleOPartXIInd>X</InfoInScheduleOPartXIInd>
      <ReconcilationRevenueExpnssAmt>17552</ReconcilationRevenueExpnssAmt>
      <OtherChangesInNetAssetsAmt>1996</OtherChangesInNetAssetsAmt>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>false</AccountantCompileOrReviewInd>
      <FSAuditedInd>true</FSAuditedInd>
      <FSAuditedBasisGrp>
        <ConsolidatedBasisFinclStmtInd>X</ConsolidatedBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>true</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>false</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleA documentId="990A" softwareId="13000230" softwareVersion="13.6.0.0">
      <CollegeOrganizationInd>X</CollegeOrganizationInd>
      <GiftsGrantsContriRcvd170Grp>
        <CurrentTaxYearMinus4YearsAmt>396649</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>428928</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>3197695</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>347250</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>1439987</CurrentTaxYearAmt>
        <TotalAmt>5810509</TotalAmt>
      </GiftsGrantsContriRcvd170Grp>
      <TotalCalendarYear170Grp>
        <CurrentTaxYearMinus4YearsAmt>396649</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>428928</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>3197695</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>347250</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>1439987</CurrentTaxYearAmt>
        <TotalAmt>5810509</TotalAmt>
      </TotalCalendarYear170Grp>
      <SubstantialContributorsTotAmt>974286</SubstantialContributorsTotAmt>
      <PublicSupportTotal170Amt>4836223</PublicSupportTotal170Amt>
      <GrossInvestmentIncome170Grp>
        <CurrentTaxYearMinus4YearsAmt>8591</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>8150</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>30590</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>26658</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>4693</CurrentTaxYearAmt>
        <TotalAmt>78682</TotalAmt>
      </GrossInvestmentIncome170Grp>
      <OtherIncome170Grp>
        <CurrentTaxYearMinus2YearsAmt>73059</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>77967</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>132089</CurrentTaxYearAmt>
        <TotalAmt>283115</TotalAmt>
      </OtherIncome170Grp>
      <TotalSupportAmt>6172306</TotalSupportAmt>
      <GrossReceiptsRltdActivitiesAmt>93888</GrossReceiptsRltdActivitiesAmt>
      <PublicSupportCY170Pct>0.78350</PublicSupportCY170Pct>
      <PublicSupportPY170Pct>0.75290</PublicSupportPY170Pct>
      <ThirtyThrPctSuprtTestsCY170Ind>X</ThirtyThrPctSuprtTestsCY170Ind>
      <PublicSupportCY509Pct>0.00000</PublicSupportCY509Pct>
      <InvestmentIncomeCYPct>0.00000</InvestmentIncomeCYPct>
      <FactsAndCircumstancesTestTxt>Part II Line 10 Miscellaneous related revenue</FactsAndCircumstancesTestTxt>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="990B" softwareId="13000230" softwareVersion="13.6.0.0">
      <ContributorInformationGrp>
        <ContributorNum>RESTRICTED</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorUSAddress>
        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <IRS990ScheduleD documentId="990D" softwareId="13000230" softwareVersion="13.6.0.0">
      <InclEscrowCustodialAcctLiabInd>false</InclEscrowCustodialAcctLiabInd>
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>11430</OtherCostOrOtherBasisAmt>
        <BookValueAmt>11430</BookValueAmt>
      </EquipmentGrp>
      <TotalBookValueLandBuildingsAmt>11430</TotalBookValueLandBuildingsAmt>
      <OtherSecuritiesGrp>
        <Desc>Financial derivatives and other financial products</Desc>
      </OtherSecuritiesGrp>
      <OtherSecuritiesGrp>
        <Desc>Closely-held equity interests</Desc>
      </OtherSecuritiesGrp>
      <OtherLiabilitiesOrgGrp>
        <Desc>Federal income taxes</Desc>
      </OtherLiabilitiesOrgGrp>
      <FootnoteTextInd>X</FootnoteTextInd>
      <TotalRevEtcAuditedFinclStmtAmt>1578765</TotalRevEtcAuditedFinclStmtAmt>
      <OtherRevenueAmt>1996</OtherRevenueAmt>
      <RevenueNotReportedAmt>1996</RevenueNotReportedAmt>
      <RevenueSubtotalAmt>1576769</RevenueSubtotalAmt>
      <TotalRevenuePerForm990Amt>1576769</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>1559217</TotExpnsEtcAuditedFinclStmtAmt>
      <ExpensesSubtotalAmt>1559217</ExpensesSubtotalAmt>
      <TotalExpensesPerForm990Amt>1559217</TotalExpensesPerForm990Amt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>X 2</FormAndLineReferenceDesc>
        <ExplanationTxt>The Organizations Form 990 returns for 2011, 2012, 2013, and 2014 are subject to examination by the Internal Revenue Service, generally for three years after being filed. Income tax regulations in the Republic of Georgia are under development and subject to constant change. Based on the interpretation of current law, PEER does not believe it is subject to income taxes and therefore has not recorded any tax liabilities. However, because of constant changes in the interpretation of Georgian tax law, PEER may be subject to various tax liabilities in Georgia. Management is of the opinion that no significant tax liability will result for the fiscal year 2014 and consequently has not recorded a tax liability.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>XI 2d</FormAndLineReferenceDesc>
        <ExplanationTxt>Exchange rate gain</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleD>
    <IRS990ScheduleF documentId="990F" softwareId="13000230" softwareVersion="13.6.0.0">
      <GrantRecordsMaintainedInd>true</GrantRecordsMaintainedInd>
      <AccountActivitiesOutsideUSGrp>
        <RegionTxt>Russia and the Newly Independent States</RegionTxt>
        <OfficesCnt>1</OfficesCnt>
        <EmployeeCnt>1</EmployeeCnt>
        <TypeOfActivitiesConductedTxt>Program, administration</TypeOfActivitiesConductedTxt>
        <SpecificServicesProvidedTxt>Grantmaking</SpecificServicesProvidedTxt>
        <RegionTotalExpendituresAmt>1559217</RegionTotalExpendituresAmt>
      </AccountActivitiesOutsideUSGrp>
      <SubtotalOfficesCnt>1</SubtotalOfficesCnt>
      <SubtotalEmployeesCnt>1</SubtotalEmployeesCnt>
      <TotalOfficeCnt>1</TotalOfficeCnt>
      <TotalEmployeeCnt>1</TotalEmployeeCnt>
      <SubtotalSpentAmt>1559217</SubtotalSpentAmt>
      <TotalSpentAmt>1559217</TotalSpentAmt>
      <GrantsToOrgOutsideUSGrp>
        <RegionTxt>Russia and the Newly Independent States</RegionTxt>
        <PurposeOfGrantTxt>ISET</PurposeOfGrantTxt>
        <CashGrantAmt>238000</CashGrantAmt>
        <MannerOfCashDisbursementTxt>Wire transfer</MannerOfCashDisbursementTxt>
      </GrantsToOrgOutsideUSGrp>
      <TotalOtherOrgCnt>1</TotalOtherOrgCnt>
      <ForeignIndividualsGrantsGrp>
        <TypeOfAssistanceTxt>Faculty grants, test fees</TypeOfAssistanceTxt>
        <RegionTxt>Russia and the Newly Independent States</RegionTxt>
        <RecipientCnt>66</RecipientCnt>
        <CashGrantAmt>672228</CashGrantAmt>
        <MannerOfCashDisbursementTxt>Electronic payment</MannerOfCashDisbursementTxt>
      </ForeignIndividualsGrantsGrp>
      <TransferToForeignCorpInd>false</TransferToForeignCorpInd>
      <InterestInForeignTrustInd>false</InterestInForeignTrustInd>
      <ForeignCorpOwnershipInd>false</ForeignCorpOwnershipInd>
      <PassiveForeignInvestmestCoInd>false</PassiveForeignInvestmestCoInd>
      <ForeignPartnershipInd>false</ForeignPartnershipInd>
      <BoycottCountriesInd>false</BoycottCountriesInd>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Part I Line 2</FormAndLineReferenceDesc>
        <ExplanationTxt>The funds are monitored by contractual requirement of reports prior to payment.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleF>
    <IRS990ScheduleO documentId="990O" softwareId="13000230" softwareVersion="13.6.0.0">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section A, Line 4</FormAndLineReferenceDesc>
        <ExplanationTxt>The organizations bylaws were revised in January 2014. Several changes were introduced related to the creation of the ISET Policy Institute and strengthening the board presidents position vis-a-vis the two committees advising the Governing Board on academic and policy matters.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section B, Line 11b</FormAndLineReferenceDesc>
        <ExplanationTxt>The full board reviews the Form 990 prior to filing.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part VI, Section C, Line 19</FormAndLineReferenceDesc>
        <ExplanationTxt>The organizations governing documents, conflict of interest policy, and financial statements are available to the public upon request.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>Form 990, Part XI, Line 9</FormAndLineReferenceDesc>
        <ExplanationTxt>Exchange rate gain</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>