2014-01-13T09:00:11-06:00 2013-06-30 CROWE HORWATH LLP 70 West Madison Street Suite 700 Chicago IL 606024903 990 2012-07-01 362251912 INSTITUTE FOR THE INTERNATIONAL EDUCATION OF STUDENTS INST 3129441750 33 W Monroe Street Chicago IL 606035405 WILLIAM J MARTENS 2014-01-09 true Nicole Bencik P00756195 3128997000 2012 2015-11-30 17:44:51Z IES ABROAD MARY M DWYER PHD 33 W Monroe Street Chicago IL 606035405 75871103 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. 19 18 151 45 0 0 307076 408132 79643720 75379668 590103 1245638 -1894406 -2131260 78646493 74902178 2484170 2454952 0 0 29234969 29357541 0 132474 678358 48801048 46281600 80520187 78226567 -1873694 -3324389 53680161 55657521 12421357 10582745 41258804 45074776 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 115 ACADEMIC PROGRAMS AROUND THE WORLD. IES IS COMPRISED OF A CONSORTIUM OF MORE THAN 200 SELECTIVE COLLEGES AND UNIVERSITIES, AND ENROLLS MORE THAN 5,300 STUDENTS IN UNIQUE PROGRAMS IN 19 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 62758789 2454952 74540518 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 5,300 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, AND SPAIN. 62758789 true true false false false false false false true true true false false true true 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 false true 60 0 true 151 true false true AR AS AU CJ CI CH EC FR GM IN EI IT JA MO NL NZ PM SF SP UK false false false false false false false false X 19 18 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 NM NY NC OK OR PA RI SC UT VA WA WV WI X WILLIAM J MARTENS 3129441750 33 W Monroe Street Ste 2300 CHICAGO IL 606035405 DEBORA DE HOYOS 1.00 X X 0 0 0 DR MARY M DWYER 35.00 X X 639710 0 139525 EZIO VERGANI 1.00 X X 0 0 0 JAMES CRAWFORD 1.00 X X 0 0 0 ALAN SCHWARTZ 1.00 X 0 0 0 DR DAVID OXTOBY 1.00 X 0 0 0 DR KAY MOORE 1.00 X 0 0 0 DR LOREN ANDERSON 1.00 X 0 0 0 DR MARLA SALMON 1.00 X 0 0 0 HOMER HOLLAND 1.00 X 0 0 0 JOHN GEAREN 1.00 X 0 0 0 KRISTI WORMHOUDT 1.00 X 0 0 0 MARK ERICKSON 1.00 X 0 0 0 MARY CAHILLANE 1.00 X 0 0 0 MONICA VACHHER 1.00 X 0 0 0 PAMELA GANN 1.00 X 0 0 0 PETER SUNDMAN 1.00 X 0 0 0 RHONDA JORDAN 1.00 X 0 0 0 ROBERT HALLWORTH 1.00 X 0 0 0 ROBERT MCNEILL 1.00 X 0 0 0 SHEILA STAMPS 1.00 X 0 0 0 THEODORE REGGE LIFE 1.00 X 0 0 0 THOMAS MCDONALD 1.00 X 0 0 0 WILLIAM HOYE 35.00 X 389889 0 45709 WILLIAM J MARTENS 35.00 X 241814 0 42852 DR MICHAEL STEINBERG 35.00 X 245026 0 34549 DAVID HUMPHREY 35.00 X 124004 0 24066 MICHAEL GREEN 35.00 X 131368 0 34076 RICHARD BARTECKI 35.00 X 221186 0 28894 RICHARD IAN ELLIS 35.00 X 211868 0 34682 ROGER SHEFFIELD 35.00 X 194187 0 25417 2399052 0 409770 19 false true false CAMPUS MANAGEMENT CORP 777 YAMATO ROAD SUITE 400 BOCA RATON FL 33487 IT MANAGEMENT SERVICE PROVIDER 855425 E2 SERVICES 440 TREASURE DRIVE OSWEGO IL 60543 IT MANAGEMENT SERVICE PROVIDER 487224 NORTOC INC 1454 N ORLEANS CHICAGO IL 60610 WEB DEVELOPMENT 373605 LANAC TECHNOLOGY CORP 20 N WACKER DRIVE SUITE 1100 CHICAGO IL 60606 IT MANAGEMENT SERVICE PROVIDER 319929 DELTA VORTEX TECHNOLOGIES INC 792 BROMPTON LANE BOLINGBROOK IL 60440 WEB DEVELOPMENT 268188 7 408132 408132 TUITION AND FEES 900099 60763686 59924536 839150 ROOM AND BOARD 900099 14568007 14568007 MEMBER SCHOOL FEE 900099 26600 26600 TRANSCRIPT FEE 900099 11075 11075 INSTALLMENT FEE 900099 10000 10000 300 300 0 0 75379668 721281 721281 0 0 0 0 0 1493282 968925 524357 0 524357 524357 0 0 0 LOSS ON SETTLEMENT OF FOREIGN CURRENCY CONTRACTS 900099 -2131260 -2131260 0 0 0 0 0 0 -2131260 74902178 74540518 0 -46472 0 2418327 2418327 36625 36625 0 2357200 273449 1869816 213935 0 21605045 17077042 4433462 94541 879543 510655 360862 8026 1231837 750843 460677 20317 3283916 2838373 424615 20928 0 555050 391205 163845 553769 393264 160505 0 132474 132474 27750 27750 2424541 973515 1448195 2831 1038252 13528 963049 61675 1433080 936826 492301 3953 1652808 550121 1086250 16437 0 6779117 5667815 1111302 4599447 3811841 752691 34915 0 304411 83241 179909 41261 59979 16093 43886 0 990889 467465 523424 247025 78037 168988 STUDENT HOUSING & MEALS 15069945 15069945 STUDENT INSTRUCTION AND TUITION 7235702 7234545 1157 STUDENT SERVICES 1888040 1888040 FIELD TRIPS 679657 679657 742138 598337 117893 25908 78226567 62758789 14789420 678358 0 7722175 5983198 9000704 7403484 103964 101243 1552273 1463242 0 0 1196483 1727076 8373584 7333982 1732223 1039602 25555373 30065212 6811038 7868495 0 0 5928 5969 53680161 55657521 4977161 5869804 3385722 3921719 0 4058474 791222 12421357 10582745 X 40174723 43648447 121486 296229 962595 1130100 41258804 45074776 53680161 55657521 X -3324389 4368053 2772308 X false true X true false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1081817 37043106 5161492 2219334 41067081 951748 152310 -13610 8631 1081817 637085 161460 151284 -1919 951748 235966 414943 34464 48288 637085 235966 235966 0.96500 0.02800 0.00700 false false 0 1524168 1436339 87829 3638572 3289670 348902 2071389 2018346 53043 1139455 589627 549828 1039602 0 0 HEDGE FUNDS 3522425 F PARTNERSHIP INVESTMENTS 4346070 F 7868495 0 ACCRUED LOSS ON FOREIGN CURRENCY CONTRACTS 229973 CAPITAL LEASE-EQUIPMENT 561249 791222 X Intended uses of endowment funds Schedule D, Part V, Line 4 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. FIN 48 (ASC 740) footnote Schedule D, Part X, Line 2 IES IS ORGANIZED AND OPERATED EXCLUSIVELY FOR EDUCATION PURPOSES AND, AS SUCH, IS EXEMPT FROM U.S. FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE U.S. INTERNAL REVENUE CODE. IES LONDON IS A CHARITY REGISTERED WITH THE CHARITY COMMISSION IN THE UNITED KINGDOM AND, AS SUCH, IS EXEMPT FROM MOST INCOME TAX. IN ACCORDANCE WITH THE APPLICABLE PROVISIONS OF THE TAX REFORM ACT OF 1969 (THE ACT), IES, AS A PRIVATE COMPANY, MAY BE EXEMPT FROM THE EXCISE TAX ON NET INVESTMENT INCOME, INCLUDING REALIZED GAINS, IF CERTAIN CRITERIA ARE MET, AS DEFINED IN THE ACT. IES HAS MET THE QUALIFYING CRITERIA FOR EXEMPTION FROM THIS EXCISE TAX. IES FOLLOWS ACCOUNTING STANDARDS APPLICABLE TO UNCERTAIN INCOME TAX POSITIONS. NO PROVISION HAS BEEN MADE FOR INCOME TAXES IN THE ACCOMPANYING FINANCIAL STATEMENTS, AS IES HAS HAD NO UNRELATED BUSINESS INCOME. MANAGEMENT BELIEVES THAT IES HAS NO MATERIAL UNRECOGNIZED INCOME TAX BENEFITS, INCLUDING ANY POTENTIAL LOSS OF ITS TAX-EXEMPT STATUS. IES RECOGNIZES INTEREST AND PENALTIES RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST AND INCOME TAX EXPENSE, RESPECTIVELY. IES RECOGNIZED AND ACCRUED NO AMOUNTS FOR INTEREST OR PENALTIES AS OF AND FOR THE YEAR ENDED JUNE 30, 2013 OR 2012. DUE TO ITS TAX-EXEMPT STATUS, IES IS NOT SUBJECT TO U.S. FEDERAL INCOME TAX OR STATE INCOME TAX. THE COMPANY IS NO LONGER SUBJECT TO EXAMINATION BY FOREIGN JURISDICTIONS OR U.S. FEDERAL TAXING AUTHORITIES FOR YEARS BEFORE THE YEAR ENDED JUNE 30, 2010. IES DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. true true true true true true true false false false false false false false false false true Racially nondiscriminatory policy Schedule E, Part I, Line 3 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. true EAST ASIA AND THE PACIFIC 8 23 PROGRAM SERVICES EDUCATION/CURRICULUM 8277180 EUROPE (INCLUDING ICELAND AND GREENLAND) 20 109 PROGRAM SERVICES EDUCATION/CURRICULUM 42494404 SOUTH ASIA 1 4 PROGRAM SERVICES EDUCATION/CURRICULUM 533726 SOUTH AMERICA 4 22 PROGRAM SERVICES EDUCATION/CURRICULUM 4887218 SUB-SAHARAN AFRICA 1 5 PROGRAM SERVICES EDUCATION/CURRICULUM 1081436 MIDDLE EAST AND NORTH AFRICA 1 4 PROGRAM SERVICES EDUCATION/CURRICULUM 703185 CENTRAL AMERICA AND THE CARIBBEAN 1 2 PROGRAM SERVICES EDUCATION/CURRICULUM 348819 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 3522425 36 169 61848393 SCHOLARSHIPS - UNIVERSIDAD DE GRANADA EUROPE (INCLUDING ICELAND AND GREENLAND) 3 36625 TUITION ASSISTANCE 0 N/A N/A true false true false false false Procedures for monitoring use of grant funds Schedule F, Part I, Line 2 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. Method used to account for expenditures on organization's financial statements Schedule F, Part I, Line 3 CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL EAST ASIA AND THE PACIFIC: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL MIDDLE EAST AND NORTH AFRICA: ACCRUAL SOUTH AMERICA: ACCRUAL SOUTH ASIA: ACCRUAL SUB-SAHARAN AFRICA: ACCRUAL Method used to account for grants on organization's financial statements Schedule F, Part III EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL Method used to account for expenditures on organization's financial statements Schedule F, Part I, Line 3 CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL EAST ASIA AND THE PACIFIC: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL MIDDLE EAST AND NORTH AFRICA: ACCRUAL SOUTH AMERICA: ACCRUAL SOUTH ASIA: ACCRUAL SUB-SAHARAN AFRICA: ACCRUAL Method used to account for grants on organization's financial statements Schedule F, Part III EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL X X X X X X true RUFFALO CODY PO BOX 3018 CEDAR RAPIDS IA 524063018 DIRECT MAIL AND PHONE SOLICITATION. false 0 85939 -85939 ARDENT COMMUNICATIONS INC 1141 WEST MADISON STREET SUITE 200 CHICAGO IL 60607 DIRECT MAIL SOLICITATION false 0 46535 -46535 0 132474 -132474 AL AK AZ AR CA CO CT DE DC FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MO MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI true MERIT SCHOLARSHIPS AWARDED TO STUDENTS 110 187720 0 N/A N/A NEED-BASED SCHOLARSHIPS AWARDED TO STUDENTS 415 517000 0 N/A N/A SCHOLARSHIPS AWARDED TO STUDENTS FROM HISTORICALLY BLACK COLLGES AND UNIVERSITIES 9 18000 0 N/A N/A PUBLIC UNIVERSITY GRANT 927 1478473 0 N/A N/A SUMMER NEED BASED AID 78 59750 0 N/A N/A LEGACY SCHOLARSHIPS 33 30000 0 N/A N/A VIENNA CENTER MUSIC SCHOLARSHIP 2 10000 0 N/A N/A UNIVERSITY OF CANTERBURY STUDY ABROAD SCHOLARSHIP 8 17081 0 N/A N/A SUMMER SCHOLARS 23 100303 0 N/A N/A Procedures for monitoring use of grant funds Schedule I, Part I, Line 2 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. X X true true X X X X X false true false false false false false false false WILLIAM HOYE 384613 0 0 0 5276 0 21250 0 24459 0 435598 0 0 0 WILLIAM J MARTENS 241204 0 0 0 610 0 23331 0 19521 0 284666 0 0 0 DR MARY M DWYER 632920 0 0 0 6790 0 120169 0 19356 0 779235 0 0 0 DR MICHAEL STEINBERG 234726 0 5000 0 5300 0 23179 0 11370 0 279575 0 0 0 RICHARD BARTECKI 206767 0 13807 0 612 0 16800 0 12094 0 250080 0 0 0 RICHARD IAN ELLIS 211524 0 0 0 344 0 18351 0 16331 0 246550 0 0 0 ROGER SHEFFIELD 193873 0 0 0 314 0 14934 0 10483 0 219604 0 0 0 MICHAEL GREEN 121155 0 10000 0 213 0 11917 0 22159 0 165444 0 0 0 First-class or charter travel Schedule J, Part I, Line 1a THE ORGANIZATION OFFERED AND REIMBURSED FIRST-CLASS AIR TRAVEL FOR ONE BOARD MEMBER FOR BUSINESS PURPOSES. Tax indemnification and gross-up payments Schedule J, Part I, Line 1a 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. Supplemental nonqualified retirement plan Schedule J, Part I, Line 4b MARY M. DWYER, PRESIDENT, 457(F) PLAN - $76,542 Delegate broad authority to a committee Form 990, Part VI, Section A, Line 1a 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. Review of form 990 by governing body Form 990, Part VI, Section B, Line 11b 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. Conflict of interest policy Form 990, Part VI, Section B, Line 12c IN ACCORDANCE WITH IES' 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 AND THE PRESIDENT/CEO ARE REVIEWED BY THE CHAIR OF THE GOVERNANCE COMMITTEE OF THE BOARD. THE CHAIR OF THE GOVERNANCE COMMITTEE REPORTS ANY CONFLICTS INVOLVING BOARD MEMBERS OR THE PRESIDENT/CEO TO THE FULL BOARD EACH YEAR. INDIVIDUAL CONFLICT OF INTEREST FORMS COMPLETED BY IES OFFICERS AND KEY EMPLOYEES ARE PLACED IN CONFIDENTIAL FILES MAINTAINED BY IES ABROAD'S DEPARTMENT OF HUMAN RESOURCES. 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 DEPARTMENT OF HUMAN RESOURCES 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. Process used to establish compensation of top management official Form 990, Part VI, Section B, Line 15a IES' BOARD EXECUTIVE COMMITTEE, ACTING AS THE BOARD COMPENSATION COMMITTEE, REVIEWS AND APPROVES THE COMPENSATION OF IES 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 INDEPENDENT COMPENSATION STUDY DESCRIBED IN PARAGRAPH 2 BELOW TO SET COMPENSATION. THE PRESIDENT/CEO RECUSES HERSELF FROM ANY DISCUSSIONS REGARDING THE SETTING OF HER OWN COMPENSATION. AT LEAST EVERY 4 YEARS, IES 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 VICE PRESIDENTS AND OFFICERS AND POSITIONS TO SIMILAR (OR IDENTICAL) POSITIONS AT OTHER ORGANIZATIONS WITH SIMILAR ANNUAL REVENUES, COMPARABLE NUMBERS OF EMPLOYEES, AND COMPARABLE LEVELS AND COMPLEXITIES OF JOB RESPONSIBILITIES, IN ORDER TO ESTABLISH A BENCHMARK FOR REASONABLE COMPENSATION. IES MOST RECENTLY RETAINED AN OUTSIDE COMPENSATION REVIEW FIRM FOR THE VICE PRESIDENTS' COMPENSATION IN MAY, 2012, AND MAY, 2013, FOR THE PRESIDENT/CEO'S COMPENSATION. THE OVERARCHING GOAL OF IES' 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 OF THE MARKET SALARY BY POSITION AS DETERMINED BY NATIONAL SURVEYS. ANNUALLY, IES REVIEWS THE PERFORMANCE OF EACH OF ITS VICE PRESIDENTS AND OFFICERS. SALARY DATA FOR EACH POSITION IS AGED ANNUALLY BASED UPON INSTRUCTIONS PROVIDED IN THE INDEPENDENT THIRD PARTY STUDY COMMISSIONED BY IES EVERY FOUR YEARS. 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, COMPENSATION RECOMMENDATIONS FOR VICE PRESIDENTS AND OFFICERS ARE PRESENTED TO THE FULL BOARD OF DIRECTORS FOR REVIEW. 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. Process used to establish compensation of other officers/key employees Form 990, Part VI, Section B, Line 15b PLEASE SEE THE NARRATIVE FOR FORM 990, PART VI, SECTION B, LINE 15A Governing documents, conflict of interest policy and financial statements available to the public Form 990, Part VI, Section C, Line 19 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. Other changes in net assets or fund balances Form 990 , Part XI, Line 9 UNREALIZED GAIN ON FOREIGN CURRENCY CONTRACTS - 2902488; FOREIGN CURRENCY TRANSLATION ADJUSTMENT - -130180; STITCHING IES AMSTERDAM OUDEZIJDS ACHTERBURGWAL 185 AMSTERDAM AMSTERDAM NL 1012 DK ABROAD PROG NL 60761 88832 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 1632 105788 IES SOCIETY FOR THE INTL ED OF STUDENTS (DELHI) C-54 NEETI BAGH NEW DELHI IN 110049 ABROAD PROG IN -4084 0 IES LONDON CENTRE OF THE INST EUROPEAN STUDIES 5 BLOOMSBURY PLACE LONDON UK WC1A 2QP ABROAD PROG UK 635792 4197394 IES IES NANTES ASSOCIATION 7 RUE DES CADENIERS NANTES FR 44000 ABROAD PROG FR 0 65412 IES ASSOCIATION D'IES ABROAD-PARIS 77 RUE DAGUERRE PARIS FR 75014 ABROAD PROG FR 548 576151 IES IES FOUNDATION (QUITO ECUADOR) ABROAD PROG EC 0 114446 IES THE INST FOR THE INTL ED OF STUDENTS (SPAIN) ABROAD PROG SP 1987 1500642 IES IES ABROAD (RABAT) 89 AVENUE MOULAY ISMAIL RABAT-HASSAN RABAT MO 10006 ABROAD PROG MO 2374 65181 IES IES ABROAD PATHWAYS LLC 33 W MONROE ST STE 2300 CHICAGO IL 606035405 981135334 ABROAD PROG DE 0 0 IES INSTITUTE FOR THE INTERNATIONAL EDUCATION OF STUDENTS PTY LTD LEVEL 17 383 KENT STREET SYDNEY NSW AS 2000 121405856 ABROAD PROG AS 0 0 IES IES ABROAD JAPAN CENTERS 1-7-1 NAKASE SCED BLDG 3F MIHAMA-KU CHIBA-SHI CHIBA JA 261-0023 ABROAD PROG JA 33 466361 IES IES ABROAD INDIA PRIVATE LIMITED (IES INDIA) ABROAD PROG IN -1050 99630 IES IES ABROAD BRASIL AV RIO BRANCO 1 ANDAR 12 CENTRO RIO DE JANEIRO BR 20.090-003 981137773 ABROAD PROG BR -11006 106775 IES PATHWAYS GLOBAL CONSULTING (BEIJING) CO LTD RM 4052 LINGLONG TOWER ENJI ZHUANG BEIJING NO 46, F-HAIDIAN CH ABROAD PROG CH -1407 133698 IES