2014-06-26T13:15:34-05:00 2013-09-30 453994797 LGC&D LLP TEN WEYBOSSET STREET - SUITE 700 PROVIDENCE RI 02903 990 2012-10-01 010732928 US RUSSIA FOUNDATION FOR ECONOMIC ADVANCEMENT AND THE RULE OF LAW USRU 4102248645 137 MITCHELLS CHANCE ROAD NO 140 EDGEWATER MD 21037 ALAN GRIFFIN 4102248645 2014-06-09 1 LYNN O'MARRA ESQUIRE P00821716 4014214800 2012 2015-11-30 17:44:51Z MARK G POMAR 137 MITCHELLS CHANCE ROAD NO 140 EDGEWATER MD 21037 19002971 0 X WWW.USRF.RU X 2002 DE TO PROMOTE THE LONG-TERM DEVELOPMENT OF RUSSIA'S MARKET ECONOMY, (CONTINUED ON SCHEDULE O) (CONTINUED) WORKING IN CLOSE PARTNERSHIP WITH THE RUSSIAN GOVERNMENT AND LEADING RUSSIAN INSTITUTIONS. IN THIS WAY, USRF SEEKS TO ENCOURAGE RUSSIAN ENTREPRENEURSHIP, SUPPORT THE LEGAL, REGULATORY, AND INSTITUTIONAL DEVELOPMENT THAT STRENGTHENS A MARKET ECONOMY, AND BUILD STRONG AND ENDURING TIES BETWEEN THE UNITED STATES AND RUSSIA. 16 15 3 0 0 0 20000000 0 0 0 2126096 3052189 1109 0 22127205 3052189 3000075 4722876 0 0 1622650 1703848 0 0 0 1879597 2202974 6502322 8629698 15624883 -5577509 126279194 132095254 1650664 3365944 124628530 128729310 X TO PROMOTE THE LONG-TERM DEVELOPMENT OF RUSSIA'S MARKET ECONOMY, WORKING IN CLOSE PARTNERSHIP WITH THE RUSSIAN GOVERNMENT AND LEADING RUSSIAN INSTITUTIONS. IN THIS WAY, USRF SEEKS TO ENCOURAGE RUSSIAN ENTREPRENEURSHIP, SUPPORT THE LEGAL, (CONTINUED ON SCHEDULE O) (CONTINUED) REGULATORY, AND INSTITUTIONAL DEVELOPMENT THAT STRENGTHENS A MARKET ECONOMY, AND BUILD STRONG AND ENDURING TIES BETWEEN THE UNITED STATES AND RUSSIA. 0 0 2768174 2277200 THE ENHANCING UNIVERSITY RESEARCH AND ENTREPRENEURIAL CAPACITY ("EURECA") PROGRAM FOCUSES ON SCIENTIFIC AND TECHNICAL COOPERATION BETWEEN RUSSIAN AND AMERICAN UNIVERSITIES AND IS BEING IMPLEMENTED IN PARTNERSHIP WITH THE RUSSIAN MINISTRY OF EDUCATION AND SCIENCE. THE GOALS ARE TO: (1) DEVELOP A CULTURE OF INNOVATION AND ENTREPRENEURSHIP IN THE FIELDS OF SCIENCE AND TECHNOLOGY AMONG FACULTY, STUDENTS, AND RESEARCHERS; (2) CREATE INFRASTRUCTURE TO SUPPORT THE TRANSFER OF TECHNOLOGIES INTO PRODUCTION; (3) ATTRACT INTEREST FROM BUSINESSES AND UNIVERSITIES IN SPONSORING RESEARCH; (4) INTEGRATE RUSSIAN UNIVERSITIES INTO THE INTERNATIONAL SCIENTIFIC AND EDUCATIONAL SPACE AND SUPPORT THEIR ENTRY INTO THE COMMUNITY OF WORLD-CLASS INSTITUTIONS; (5) STRENGTHEN INNOVATION ECOSYSTEMS AND (CONTINUED ON SCHEDULE O) (CONTINUED) THE ROLE OF UNIVERSITIES IN REGIONAL DEVELOPMENT AND INNOVATION CLUSTERS; (6) DEVELOP STRONG RELATIONSHIPS WITH VENTURE CAPITAL FIRMS TO RAISE START-UP CAPITAL; AND (7) FORM MUTUALLY BENEFICIAL PARTNERSHIPS BETWEEN RESEARCH AND BUSINESS COMMUNITIES IN THE U.S. AND RUSSIA. TARGETED GRANTS TO SUPPORT THE ABOVE PURPOSES. 1390972 1077725 PUBLIC POLICY INITIATIVES: THE YEGOR GAIDAR FELLOWSHIP PROGRAM IN ECONOMICS, NAMED IN HONOR OF THE FIRST MINISTER OF FINANCE OF THE RUSSIAN FEDERATION, SUPPORTS THE LONG-TERM DEVELOPMENT OF RUSSIA'S MARKET ECONOMY BY PROVIDING OPPORTUNITIES FOR LEADING RUSSIAN ECONOMISTS TO CONDUCT COLLABORATIVE RESEARCH WITH U.S. ECONOMIC EXPERTS. THE PROGRAM'S GOAL IS "TO STRENGTHEN HUMAN CAPACITY AT RUSSIAN INSTITUTIONS IN DEVELOPING ENTREPRENEURSHIP, ECONOMIC DIVERSIFICATION, TECHNOLOGICAL INNOVATION, AND GLOBALIZATION." THE YEGOR GAIDAR SUMMER LEADERSHIP PROGRAM, JOINTLY ADMINISTERED WITH THE YEGOR GAIDAR FOUNDATION, WAS DESIGNED AND IS BEING IMPLEMENTED BY PURDUE UNIVERSITY. THE PROGRAM ENABLES YOUNG RUSSIAN LEADERS (THIRD AND FOURTH YEAR UNIVERSITY STUDENTS) FROM (CONTINUED ON SCHEDULE O) (CONTINUED) VARIOUS REGIONS OF RUSSIA TO ACQUIRE THE KNOWLEDGE, SKILLS, AND PRACTICAL EXPERIENCE NECESSARY FOR BUILDING A DYNAMIC MARKET ECONOMY. THE FOCUS IS ON ECONOMICS AND ENTREPRENEURSHIP. WORLD TRADE ORGANIZATION ("WTO") PROGRAM HAS PROVIDED THE HIGHER MANAGEMENT SCHOOL OF THE RUSSIAN PRESIDENTIAL ACADEMY OF NATIONAL ECONOMY AND PUBLIC ADMINISTRATION WITH HIGH-LEVEL U.S. EXPERTISE IN WTO ISSUES FOR THEIR TRAINING SESSIONS. ENTREPRENEURIAL MUSEUM PROJECT (JOINT PROGRAM WITH THE POTANIN FOUNDATION) TO CONTINUE WITH OUR JOINT PROGRAM IN MUSEUM ENTREPRENEURSHIP. OUR ROLE IS TO HELP IDENTIFY U.S. EXPERTS WHO CAN PARTICIPATE IN A MAJOR CONFERENCE AND MUSEUM EXHIBITION IN MOSCOW. THIS SMALL PROGRAM REPRESENTS AN IMPORTANT STRATEGIC DIRECTION: TO WORK JOINTLY WITH A MAJOR RUSSIAN FOUNDATION IN THE AREA OF SOCIAL ENTREPRENEURSHIP. TARGETED GRANTS TO SUPPORT THE ABOVE PURPOSES. 1243414 1073893 ECONOMIC DEVELOPMENT AND ENTREPRENEURSHIP INITIATIVES: TARGETED GRANTS UNDER $100,000 TO ORGANIZATIONS TO SUPPORT ECONOMIC DEVELOPMENT AND ENTREPRENEURSHIP. MISSION CRITERIA INCLUDE: (1) MULTIPLIER EFFECT; (2) REPLICABILITY ON A REGIONAL OR NATIONAL SCALE; (3) RESULTING SYSTEMIC OR POLICY CHANGE; AND (4) SUSTAINABILITY. 698056 294058 RULE OF LAW INITIATIVES: EFFORTS TO SUPPORT THE MODERNIZATION OF THE RUSSIAN LEGAL EDUCATION SYSTEM SO THAT IT CAN PREPARE LAWYERS TO WORK EFFECTIVELY IN A GLOBAL MARKET ECONOMY. LEGAL EXCHANGE ("LEX") PROGRAM: TO DEVELOP AND STRENGTHEN HUMAN CAPACITY AT RUSSIAN LEGAL INSTITUTIONS AND LAW FACULTIES THROUGH NEW CURRICULA IN THE AREA OF BUSINESS AND COMMERCIAL LAW, INNOVATIVE TEACHING METHODOLOGY BASED ON COMPETENCIES-BUILDING APPROACH, AND INCREASED COLLABORATION BETWEEN RUSSIAN AND U.S. UNIVERSITIES. THE GOALS ARE: (1) TO INCREASE THE CAPACITY OF RUSSIAN LAW FACULTIES TEACHING COMMERCIAL AND BUSINESS LAW TO FULFILL THE NEW STATE EDUCATIONAL STANDARDS INTRODUCING COMPETENCIES-BUILDING APPROACH; (2) ADOPTION BY RUSSIAN LAW FACULTIES OF EXPERIENTIAL LEARNING METHODOLOGY IN TEACHING COMMERCIAL AND BUSINESS LAW; (3) TO ADVANCE COLLABORATIVE EFFORTS BY RUSSIAN UNIVERSITIES TO IMPROVE TEACHING QUALIFICATIONS OF RUSSIAN LAW FACULTY; (4) THE DISSEMINATION OF BEST PRACTICES THROUGH FOUR UNIVERSITIES SERVING AS HUBS; AND (5) TO STRENGTHEN TIES BETWEEN RUSSIAN AND U.S. LAW SCHOOLS. TARGETED GRANTS TO SUPPORT THE ABOVE PURPOSES. 698056 294058 6100616 1 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 1 0 0 1 1 1 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 0 1 10 0 1 3 1 0 1 RS 0 0 0 0 0 0 0 0 X 16 15 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 X ALAN GRIFFIN 4102248645 137 MITCHELLS CHANCE ROAD SUITE 140 EDGEWATER MD 21037 THE HONORABLE JAMES F COLLINS 9.00 1.00 X X 0 0 0 STEVEN L PEASE 10.00 5.00 X X 0 0 0 KAREN N HORN 8.00 3.00 X X 0 0 0 JOHN R BEYRLE 5.00 X 0 0 0 STEPHEN E BIEGUN 3.00 1.00 X 0 0 0 DR SERGEY R BORISOV 3.00 1.00 X 0 0 0 DR JENNE K BRITELL 6.00 5.00 X 0 0 0 FRANK J CAUFIELD 3.00 1.00 X 0 0 0 CRAIG KENNEDY 3.00 X 0 0 0 THE HONORABLE PAUL MAGNUSON 5.00 X 0 0 0 MARK POMAR 40.00 X X 855609 0 82562 CHARLES E RYAN 5.00 X 0 0 0 NADIA SERYAKOVA 3.00 X 0 0 0 ALEXANDER SHIBANOV 3.00 X 0 0 0 DMITRY VASILIEV 3.00 X 0 0 0 THE HONORABLE MICHAEL M MIHM 10.00 X 0 0 0 ALAN GRIFFIN 30.00 10.00 X 205037 0 79901 LORI JONES 30.00 10.00 X 70238 0 24598 ANNA DANILINA 39.00 1.00 X 0 0 99784 ROBERT C ODLE JR 2.00 4.00 X 0 0 0 1130884 0 286845 2 0 1 0 0 2160959 2160959 16842012 15950782 891230 891230 891230 3052189 0 0 3052189 1547425 1547425 3175451 3175451 1210266 509282 700984 347154 185030 162124 41049 41049 105379 54989 50390 40081 40081 109374 109374 376853 376853 164588 49564 115024 94847 42433 52414 23160 10325 12835 422452 218247 204205 811616 268243 543373 46291 39627 6664 25931 25931 74514 74514 FOREIGN CURRENCY TRANSL 13267 13267 8629698 6100616 2529082 0 281769 378294 13925870 13319363 18559 30713 175903 234139 110659 81957 83182 28702 109656699 106449149 2137212 11654894 126279194 132095254 267001 289462 1383663 3076482 1650664 3365944 X 0 0 0 0 124628530 128729310 124628530 128729310 126279194 132095254 -5577509 9678289 0 X X 0 1 X 1 0 X 2419000 62070000 20000000 84489000 2419000 62070000 20000000 84489000 84489000 436391 204461 602290 1663289 2160959 5067390 1109 1109 89557499 0.94340 0.96410 X 70025 51112 18913 40634 30845 9789 28702 PRIVATE INVESTMENTS 11654894 F 11654894 12353625 9678289 9678289 2675336 376853 376853 3052189 8252845 0 8252845 376853 376853 8629698 1 RUSSIA/INDEPENDENT STATES 1 8 GRANTS TO RECIPIENTS LOCATED IN REGION; OTHER PROGRAM SERVICES SEE SCHEDULE F, PART V. 4553191 1 8 0 0 1 8 4553191 0 4553191 RUSSIA PUBLIC SUPPORT 1000000 WIRE CASH RUSSIA PUBLIC SUPPORT 500000 WIRE CASH RUSSIA PUBLIC SUPPORT 500000 WIRE CASH RUSSIA PUBLIC SUPPORT 705914 WIRE CASH RUSSIA PUBLIC SUPPORT 75499 WIRE CASH RUSSIA PUBLIC SUPPORT 100000 WIRE CASH RUSSIA PUBLIC SUPPORT 99000 WIRE CASH RUSSIA PUBLIC SUPPORT 96760 WIRE CASH RUSSIA PUBLIC SUPPORT 98278 WIRE CASH 9 1 0 0 0 0 0 PROCEDURE FOR MONITORING GRANTS OUTSIDE THE U.S.: SCHEDULE F, PART I, LINE 2: THE U.S. RUSSIA FOUNDATION FOR ECONOMIC ADVANCEMENT AND THE RULE OF LAW ("USRF") UNDERTAKES A RIGOROUS REVIEW PROCESS FOR ALL GRANTS MADE TO ORGANIZATIONS OUTSIDE THE UNITED STATES. ANY ORGANIZATION SEEKING FUNDING FROM USRF IS REQUIRED TO COMPLETE A GRANT OR FUNDING APPLICATION THAT IS REVIEWED BY A MEMBER OF THE SENIOR STAFF WHO THEN DETERMINES IF IT ADDRESSED THE CHARITABLE MISSIONS SUPPORTED BY USRF. IF A FOUNDATION GRANT APPLICATION IS DETERMINED TO BE WORTHY OF SUPPORT, IT WILL BE RECOMMENDED FOR APPROVAL TO THE GRANTS COMMITTEE. THOSE GRANTS APPROVED BY THE GRANTS COMMITTEE ARE RECOMMENDED FOR APPROVAL TO THE FULL BOARD. ONCE A GRANT REQUEST IS APPROVED, A CONTRACT IS DEVELOPED BETWEEN USRF AND THE GRANTEE. THE GRANT DOCUMENTATION MAKES CLEAR THE RESPONSIBILITIES OF ALL PARTIES. IT OBLIGATES THE GRANTEE TO USE THE GRANT FUNDS ONLY FOR THE PURPOSES FOR WHICH THE GRANT IS MADE, PROVIDES FOR PERIODIC WRITTEN REPORTS AS WELL AS AN ACCOUNTING OF HOW GRANT FUNDS WERE USED, AND ACKNOWLEDGES THE ORGANIZATION'S AUTHORITY TO WITHHOLD OR RECOVER GRANT FUNDS IN CASES WHERE SUCH FUNDS ARE, OR APPEAR TO BE, MISUSED. TO ENSURE THAT THE FOREIGN ORGANIZATIONS RECEIVING FUNDS ARE USING THE FUNDS IN FURTHERANCE OF OUR EXEMPT MISSION, USRF WILL MAKE SITE VISITS, PARTICIPATE IN GRANTEE EVENTS, OR REVIEW RELEVANT RESEARCH PAPERS. USRF PROVIDES OVERSIGHT TO EACH GRANTEE: 1. A GRANT MANAGER IS ASSIGNED TO EACH GRANTEE, 2. THERE IS EXTENSIVE INTERACTION WITH EACH GRANTEE ON THE DEVELOPMENT OF ITS PROPOSAL TO ENSURE THAT GRANT FUNDS WILL ONLY BE USED FOR PURPOSES AGREED UPON, 3. CONTRACTS ARE SIGNED THAT OUTLINE HOW THE GRANT FUNDS WILL BE USED, 4. PERIODIC REPORTS ARE REQUIRED TO ENSURE THAT MILESTONES ARE REACHED, 5. A GRANT MANAGER WILL MAKE A SITE VISIT, AND 6. A FINAL REPORT, INCLUDING AN ACCOUNTING OF THE USE OF THE FUNDS, IS REQUIRED. SCHEDULE F, PART I, LINE 3: THE U.S. RUSSIA FOUNDATION FOR ECONOMIC ADVANCEMENT AND THE RULE OF LAW ("USRF") MAINTAINS AN OFFICE OUTSIDE THE U.S. LOCATED IN MOSCOW, RUSSIA. APPROXIMATELY 8 EMPLOYEES SERVE USRF AND PROVIDE SERVICES THAT ARE EXCLUSIVELY RELATED TO THE ORGANIZATION'S TAX-EXEMPT MISSION. THE NATURE OF THE ORGANIZATION'S ACTIVITIES ARE SUCH THAT CLASSIFYING THE SPECIFIC EXPENDITURES IN THE REGION ARE DIFFICULT. FOR PURPOSES OF COMPLYING WITH SCHEDULE F, PART I, LINE 3, COLUMN (F), USRF IS REPORTING ALL EXPENDITURES, EXCEPT FOR GRANTS TO U.S. ORGANIZATIONS, AS EXPENDITURES FROM A FOREIGN REGION EVEN THOUGH CERTAIN ADMINISTRATIVE FUNCTIONS ARE PERFORMED IN THE UNITED STATES. ALL OF THE FOREIGN ACTIVITIES HAVE BEEN CONDUCTED IN RUSSIA. PROGRAM SERVICES ACTIVITIES INCLUDE: ENHANCING UNIVERSITY RESEARCH AND ENTREPRENEURIAL CAPACITY, YEGOR GUIDAR FELLOWSHIP PROGRAM IN ECONOMICS, YEGOR GUIDAR SUMMER LEADERSHIP PROGRAM, WORLD TRADE ORGANIZATION INITIATIVES, ENTREPRENEURIAL MUSEUM PROJECT, AND RULE OF LAW INITIATIVES - TOTAL EXPENDITURES (F) $1,377,740, AND (II) GRANTS TO RECIPIENTS LOCATED IN REGION - TOTAL EXPENDITURES (F) $3,175,451. 1 AMERICAN COUNCILS FOR INTERNATIONAL EDUCATION 1828 L STREET NW SUITE 1200 WASHINGTON DC 20036 521067256 501(C)(3) 277200 CASH PUBLIC SUPPORT THE INTERNATIONAL RESEARCH AND EXCHANGE BOARD (IREX) 2121 K STREET NW SUITE 700 WASHINGTON DC 20037 223087809 501(C)(3) 945881 CASH PUBLIC SUPPORT GLOBAL INITIATIVES 1001 COUNTRY CLUB ROAD WEST CHESTER PA 19382 161501127 501(C)(3) 192500 CASH PUBLIC SUPPORT PURDUE UNIVERSITY 610 PURDUE MALL WEST LAFAYETTE IN 47907 356002041 501(C)(3) 131844 CASH PUBLIC SUPPORT 4 PROCEDURE FOR MONITORING GRANTS IN THE U.S.: PART I, LINE 2: SCHEDULE I, PART I, LINE 2: THE U.S. RUSSIA FOUNDATION FOR ECONOMIC ADVANCEMENT AND THE RULE OF LAW ("USRF") EMPLOYS THE SAME CRITERIA TO MONITOR GRANTS MADE WITHIN THE UNITED STATES AS IT DOES FOR GRANTS MADE OUTSIDE THE UNITED STATES. PLEASE REFER TO SCHEDULE F, PART V, FOR A DETAILED DESCRIPTION OF THE ORGANIZATION'S GRANT MONITORING PROCESS. X X X X 1 1 X X X X X 0 0 0 0 0 0 0 0 0 MARK POMAR 350000 0 25000 0 480609 0 50000 0 32562 0 938171 0 0 0 ALAN GRIFFIN 200000 0 0 0 5037 0 50000 0 29901 0 284938 0 0 0 PART I, LINE 1A IN LIEU OF FEES FOR ATTENDING BOARD MEETINGS, IN 1990, THE U.S. CONGRESS AND THE USAID ADOPTED A POLICY THAT NON-EXECUTIVE DIRECTORS OF ENTERPRISE FUNDS WERE AUTHORIZED TO FLY FIRST CLASS WHEN TRAVELING ON ORGANIZATION BUSINESS. THE VARIOUS ENTERPRISE FUND AND FOUNDATION DOCUMENTS HAVE ALWAYS REFLECTED THIS POLICY, AND CONGRESS, STATE AND USAID HAVE BEEN AWARE SINCE 1990 THAT DIRECTORS FLY FIRST CLASS. SUPPLEMENTAL INFORMATION PART III DURING THE CALENDAR YEAR 2012, MARK POMAR'S BASE COMPENSATION WAS $350,000 PER YEAR, UNCHANGED SINCE JUNE 2008 WHEN HE WAS HIRED TO SERVE AS USRF'S CEO. IN ADDITION, HE RECEIVED A BONUS OF $25,000 FOR MERITORIOUS PERFORMANCE. MR. POMAR WAS AN "EXPAT" LIVING IN MOSCOW AT THE REQUEST OF THE USRF BOARD. ACCORDINGLY, MR. POMAR RECEIVED TYPICAL "EXPAT" BENEFITS WHILE MAINTAINING A FAMILY RESIDENCE IN THE UNITED STATES. THESE OTHER REPORTABLE COMPENSATION BENEFITS OF $480,609 INCLUDED $146,537 FOR SUITABLE HOUSING FOR HIS FAMILY IN MOSCOW, TAX EQUALIZATION AND PREPARATION - BOTH RUSSIAN AND U.S. TAXES APPLY OF $216,324 (INCLUDING $118,300 FOR 2011; BUT NOT INCLUDING $29,780 PAID IN 2013), EXPENSES FOR THREE ANNUAL LEAVE TRIPS BASED ON THE COST OF AIRFARE FOR MR. POMAR'S FAMILY TO TRAVEL TO THE UNITED STATES OF $55,400, LIFE AND DISABILITY INSURANCE OF $31,548, SCHOOLING FOR HIS SON OF $24,800 AND HEALTH CLUB BENEFITS OF $6,000 FOR TWO YEARS. USRF ALSO PROVIDED: SEP IRA RETIREMENT BENEFITS OF $50,000 AND NONTAXABLE MEDICAL AND HEALTH BENEFITS OF $32,562. ROBERT C ODLE JR OFFICER 9247 ROBERT C. ODLE, JR. IS A LAWYER WITH THE LAW FIRM OF WEIL, GOTSHAL, & MANGES, LLP. THIS LAW FIRM RECEIVED COMPENSATION FOR SERVICES IN THE AMOUNT OF $9,247 FOR THE 2012 CALENDAR YEAR. MR. ODLE IS NOT COMPENSATED FOR HIS SERVICE AS AN OFFICER FOR USRF. MR. ODLE RECUSES HIMSELF FROM MATTERS CONCERNING THE SELECTION AND COMPENSATION OF THE LAW FIRM RETAINED BY USRF. 0 FORM 990, PART VI, SECTION A, LINE 6 DELAWARE NONSTOCK CORPORATIONS HAVE MEMBERS PURSUANT TO SECTION 102(A)(4) OF THE DELAWARE GENERAL CORPORATION LAW. THE MEMBERS ELECT THE DIRECTORS AND HAVE CERTAIN RIGHTS OF APPROVAL AS MEMBERS AS PROVIDED BY DELAWARE LAW. THE ORGANIZATION'S CERTIFICATE OF INCORPORATION PROVIDES THAT THE MEMBERS OF THE CORPORATION SHALL BE THE U.S. DIRECTORS. FURTHERMORE, IF AT ANY TIME AND FOR ANY REASON ANY MEMBER SHALL CEASE TO BE A U.S. DIRECTOR, SUCH PERSON SHALL SIMULTANEOUSLY CEASE TO BE A MEMBER. FORM 990, PART VI, SECTION A, LINE 7A SEE EXPLANATION FOR PART VI, SECTION A, LINE 6. FORM 990, PART VI, SECTION A, LINE 7B SEE EXPLANATION FOR PART VI, SECTION A, LINE 6. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 WAS PREPARED BY LGC&D, LLP AND REVIEWED IN DETAIL WITH THE ORGANIZATION PRIOR TO FILING. CHIEF FINANCIAL OFFICER, ALAN GRIFFIN, COORDINATED WITH LGC&D TO PROVIDE AN ACCURATE AND REPRESENTATIVE FORM 990. A COPY OF THE FORM 990 WAS PROVIDED TO EACH DIRECTOR OF THE U.S. RUSSIA FOUNDATION FOR ECONOMIC ADVANCEMENT AND RULE OF LAW PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL CURRENT AND FORMER DIRECTORS, OFFICERS, AND KEY EMPLOYEES ARE REQUIRED TO PROMPTLY DISCLOSE ALL MATERIAL FACTS RELATING TO ANY ACTUAL, POTENTIAL, OR PERCEIVED CONFLICT OF INTEREST. IN ADDITION, EACH PERSON MUST COMPLETE A QUESTIONNAIRE CONCERNING CONFLICTS OF INTEREST ANNUALLY, AND UPON ANY CHANGE OF CIRCUMSTANCE, WHICH SHALL BE REVIEWED BY THE AUDIT COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15 U.S. RUSSIA FOUNDATION FOR ECONOMIC ADVANCEMENT AND RULE OF LAW UNDERTAKES A RIGOROUS PROCESS TO ENSURE THAT THE COMPENSATION IT PAYS TO ITS OFFICERS IS REASONABLE. THE BOARD OF DIRECTORS HAS ESTABLISHED A COMPENSATION COMMITTEE COMPRISED OF INDEPENDENT PERSONS WHO HAVE NO PERSONAL INTEREST IN THE PROPOSED COMPENSATION ARRANGEMENT. THE USRF COMPENSATION COMMITTEE MUST APPROVE THE COMPENSATION, WITHOUT INPUT OR VOTING PARTICIPATION BY THE PERSON WHOSE COMPENSATION IS BEING APPROVED OR BY ANY OTHER INDIVIDUAL WITH A CONFLICT OF INTEREST. THE FINAL DETERMINATION IS THEN DOCUMENTED IN COMMITTEE MINUTES. THOSE MINUTES WILL CONTAIN THE TERMS OF THE PROPOSED COMPENSATION AND DECISIONS OF THOSE INDIVIDUALS WHO VOTED ON THE COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FORM 990 AND FORM 1023 AVAILABLE TO THE PUBLIC BY RETAINING A COPY OF EACH AT THE ADDRESS LISTED ON PAGE 1 OF THIS RETURN. ANY INDIVIDUAL REQUESTING A COPY OF THESE DOCUMENTS IS PROVIDED THAT COPY. THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. AUDIT OVERSIGHT PROCESS FORM 990, PART XII, LINE 2C: THE PROCESS FOR OVERSIGHT OF THE ORGANIZATION'S AUDIT REMAINS THE SAME AS IN PRIOR YEARS. THE AUDIT COMMITTEE IS RESPONSIBLE FOR OVERSIGHT. THE US RUSSIA INVESTMENT FUND 137 MITCHELLS CHANCE ROAD EDGEWATER MD 21037 133837559 INVESTMENTS DE 501(C)(3) LINE 7 N/A 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0