2014-02-15T16:25:10-06:00 2013-03-31 042571780 ALEXANDER ARONSON FINNING & CO PC 21 EAST MAIN STREET WESTBORO MA 01581 990 2012-04-01 042103651 AMERICAN ACADEMY OF ARTS AND SCIENCES AMER 6175765000 136 IRVING STREET CAMBRIDGE MA 02138 MARK ROBINSON 6175765000 2014-02-18 1 DAVID J KELLEHER CPA P01059560 5083669100 2012 2015-11-30 17:44:51Z MARK ROBINSON 136 IRVING STREET CAMBRIDGE MA 02138 60618101 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. 7 5 48 650 0 0 5916042 9600193 820550 833128 1569198 1030114 0 0 8305790 11463435 0 0 0 0 4105402 4354256 0 0 934818 4438795 4168904 8544197 8523160 -238407 2940275 66269797 71082518 3867748 4134688 62402049 66947830 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 2689781 ACADEMY PROJECTS AND STUDIES - CONSISTS OF STUDIES AND OTHER ACADEMIC ENDEAVORS FUNDED FROM INTERNAL AND EXTERNAL SOURCES. 1364567 68395 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. 1280055 624429 HOUSE AND CONFERENCE SERVICES - INCLUDES MAINTENANCE OF THE ACADEMY'S MAIN FACILITY AS WELL AS USE OF THE FACILITY FOR FUNCTIONS. 909831 140304 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. IT ALSO INCLUDES COMMUNICATION ACTIVITIES TO THE ACADEMY MEMBERS, PUBLIC OFFICIALS AND OTHER INTERESTED PARTIES. 301930 MEMBERSHIP AND ELECTIONS - CONSISTS OF ACTIVITIES RELATED TO THE MAINTAINING OF THE HONORARY SOCIETY AND ELECTING FELLOWS TO THE ACADEMY. 1211761 140304 6546164 1 1 0 0 0 0 0 1 0 1 1 1 0 1 0 1 0 1 0 0 1 0 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 0 0 0 1 0 0 0 0 0 1 1 1 0 0 1 46 0 1 48 1 0 0 0 0 0 0 0 0 0 0 X 7 5 0 0 0 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 SEE SCHEDULE J 80.00 X X 429310 0 241892 LOUIS W CABOT 1.00 X X 0 0 0 JERROLD MEINWALD 1.00 X X 0 0 0 JOHN S REED 1.00 X X 0 0 0 NEAL F LANE 1.00 X 0 0 0 GERALD EARLY 1.00 X 0 0 0 EMILIO BIZZI 1.00 X 0 0 0 ROBERT P HENDERSON 1.00 X X 0 0 0 MARY BRANDT 50.00 X 204763 0 46543 PAUL KAROFF 50.00 X 145360 0 36571 MARK ROBINSON 50.00 X 207190 0 42663 PHYLLIS BENDELL 50.00 X 123950 0 40943 1110573 0 408612 5 0 1 0 LATTICE BUSINESS APPLICATIONS 22 PINE PLAIN ROAD BOXFORD MA 01921 WEB DESIGN/DATABASE 149594 CLEANCO MAINTENANCE CORP 318 BEAR HILL ROAD WALTHAM MA 02451 CLEANING SERVICES 131207 FOX STRATEGY GROUP 4905 SCARDSDALE RD BETHESDA MD 20816 PROGRAM ADVISOR/OUTREACH 127000 NATIONAL OPINION RESEARCH CENTER 55 E MONROE ST SUITE 2000 CHICAGO IL 60603 RESEARCH RELATED 100170 4 1117825 89791 8392577 9600193 NORTON WOODS FEES 900099 624429 624429 SALES PUBLICATION 511120 208699 208699 833128 931629 931629 49253151 49154666 98485 98485 98485 11463435 833128 0 1030114 X 689879 344940 275952 68987 2953479 2296281 175762 481436 149236 64899 31116 53221 364181 187365 168242 8574 197481 124647 35230 37604 57464 32389 25075 59681 59681 42733 42733 1265765 1137946 70471 57348 532355 359839 89827 82689 69099 46007 18092 5000 110618 110618 413997 291609 12184 110204 748733 722699 9486 16548 82141 82141 541483 541483 70189 20463 49726 OTHER 136941 112421 11313 13207 FEES AND HONORARIA 22500 22500 PROMOTION 15205 5184 10021 8523160 6546164 1042178 934818 676618 452061 6182701 12327920 1496924 773092 44172 29185 10711 13048 126745 50252 15504118 5670579 10050858 9833539 29046950 27878057 11442949 11900328 7191169 7825036 66269797 71082518 583907 989035 89791 0 3194050 3145653 3867748 4134688 X 24377093 24803799 13365710 13961431 24659246 28182600 62402049 66947830 66269797 71082518 X 2940275 1584606 20900 X 0 1 X 1 0 X 5245600 7260304 7663277 5916042 9600193 35685416 5245600 7260304 7663277 5916042 9600193 35685416 7853135 27832281 1502395 1140381 1222344 1169827 931629 5966576 41651992 4042803 0.66820 0.67410 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 31511693 3215000 1820789 2068208 34479274 34682364 150000 -1147091 2173580 31511693 31020760 2590000 3315759 2244155 34682364 23459079 532500 9012161 1915895 31020760 32681908 107500 -7423618 1906711 23459079 0.12670 0.73600 0.13730 1 0 13436934 4117910 9319024 2067184 1552669 514515 9833539 MULTI STRATEGY FUNDS 4653645 F PRIVATE EQUITY FUNDS 828070 F GLOBAL EMERGING MARKETS FUND 3460237 F HEDGE FUND 2958376 F 11900328 PREPAID LAND LEASE 520539 DUE FROM AFFILIATE 4448773 BENEFICIAL INTEREST IN PERPETUAL TRUST 2805928 OTHER ASSETS 49796 7825036 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. DESCRIPTION OF INTENDED USE OF ENDOWMENT FUNDS: 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. DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: PART X, LINE 2: THE ACADEMY FOLLOWS U.S. GAAP STANDARDS FOR ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES WHICH REQUIRE THE ACADEMY TO REPORT ANY UNCERTAIN TAX POSITIONS AND TO ADJUST ITS CONSOLIDATED FINANCIAL STATEMENTS FOR THE IMPACT THEREOF. AS OF MARCH 31, 2013, THE ACADEMY DETERMINED THAT IT HAD NO TAX POSITIONS THAT DID NOT MEET THE "MORE LIKELY THAN NOT" THRESHOLD OF BEING SUSTAINED BY THE APPLICABLE TAX AUTHORITY. THE ACADEMY FILES INCOME TAX AND INFORMATION RETURNS IN THE UNITED STATES FEDERAL AND MASSACHUSETTS STATE JURISDICTIONS. THESE RETURNS ARE GENERALLY SUBJECT TO EXAMINATION BY TAX AUTHORITIES FOR THE LAST THREE YEARS. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 6418613 0 0 0 0 0 0 6418613 0 6418613 0 0 1 1 0 0 SCHEDULE F, PART IV, LINE 3 THE ACADEMY IS NOT REQUIRED TO FILL OUT FORM 5471 AS THE ACADEMY DID NOT MEET THE 10% OWNERSHIP THRESHOLD. SCHEDULE F, PART IV, LINE 4 THE ACADEMY IS ALSO NOT REQUIRED TO FILL OUT FORM 8621 AS THE PRIVATE FOREIGN INVESTMENT COMPANY (PFIC) RULES DO NOT APPLY TO TAX EXEMPT ORGANIZATIONS AS THE PFIC DOES NOT GENERATE ANY INCOME UNDER INTERNAL REVENUE CODE 952 SUBPART F. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 LESLIE BERLOWITZ SEE SCHEDULE J 429310 0 0 0 0 0 229893 0 11999 0 671202 0 0 0 MARY BRANDT 204763 0 0 0 0 0 30750 0 15793 0 251306 0 0 0 PAUL KAROFF 145360 0 0 0 0 0 15200 0 21371 0 181931 0 0 0 MARK ROBINSON 197190 0 10000 0 0 0 20500 0 22163 0 249853 0 0 0 PHYLLIS BENDELL 123950 0 0 0 0 0 19800 0 21143 0 164893 0 0 0 PART I, LINE 1A DURING FISCAL YEAR 2013, THERE WERE 8 ROUND TRIP TICKETS PURCHASED THAT WERE EITHER FIRST CLASS OR UPGRADED TO FIRST CLASS DURING THE YEAR. THE TRAVEL WAS FOR EITHER THE BOARD CHAIR, LOUIS CABOT, OR THE CEO OF THE ACADEMY, LESLIE BERLOWITZ. FIRST CLASS TRAVEL IS ALLOWED UNDER THE POLICIES OF THE ACADEMY FOR CERTAIN OFFICERS IN CERTAIN SITUATIONS. ALL FIRST CLASS TRAVEL FOR FISCAL YEAR 2013 MET THE POLICY GUIDELINES. DURING FISCAL YEAR 2013, THE ACADEMY HAD A MEMBERSHIP IN THE CEO'S NAME AT THE CENTURY CLUB IN NEW YORK. DUES FOR THE YEAR WERE $1,561. THE CLUB WAS USED EXCLUSIVELY FOR ACADEMY RELATED FUNCTIONS. SUPPLEMENTAL INFORMATION PART III THE PRESIDENT AND CHIEF EXECUTIVE OFFICER ACCRUES COMPENSATION UNDER DEFERRED COMPENSATION ARRANGEMENT ACCOUNTS IN ACCORDANCE WITH IRC SECTIONS 457(B) AND 457(F). THE DEFERRED COMPENSATION REPORTED ACCUMULATES UNDER A FORMULA IN THE PRESIDENT/CEO'S EMPLOYMENT CONTRACT. THE PRESIDENT/CEO IS EXPECTED TO VEST IN DEFERRED COMPENSATION EXCEEDING 457(B) LIMITS AT THE CONCLUSION OF THE CONTRACT. A MASSACHUSETTS HEALTH AND EDUCATIONAL FACILITIES AUTHORITY 042456011 57586ELD1 2009-08-01 3374212 REFINANCE OF PRE-EXISTING TAX EXEMPT DISTRIBUTION 0 0 1 A 48397 48667 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 PRESIDENT EXCESS COMPENSATION PAID IN 2012. SEE NARRATIVE EXPLANATION ON PART V. 0 LESLIE BERLOWITZ PRESIDENT EXCESS COMPENSATION PAID IN 2011. SEE NARRATIVE EXPLANATION ON PART V. 0 LESLIE BERLOWITZ PRESIDENT EXCESS COMPENSATION PAID IN 2010. SEE NARRATIVE EXPLANATION ON PART V. 0 41715 0 LESLIE BERLOWITZ CEO OF THE ACADEMY AND IS ALSO AN OFFICER OF NORTON'S WOODS, INC. 624429 THE ACADEMY PROVIDES FACILITY AND OVERHEAD SUPPORT TO NORTON'S WOODS TOTALLING $624,429 DURING FISCAL YEAR 2013. 0 EMILIO BIZZI BOARD MEMBER OF THE ACADEMY AND ALSO A BOARD MEMBER OF NORTON'S WOODS, INC. 624429 THE ACADEMY PROVIDES FACILITY AND OVERHEAD SUPPORT TO NORTON'S WOODS TOTALLING $624,429 DURING FISCAL YEAR 2013. 0 SCHEDULE L, PART I, LINES 1(A) - 1(D) EXCESS COMPENSATION EXPLANATION IN FEBRUARY 2014, THE ACADEMY'S BOARD OF DIRECTORS DETERMINED, AFTER EXAMINING THE COMPENSATION PAID TO ITS FORMER PRESIDENT, LESLIE C. BERLOWITZ, THAT SUCH COMPENSATION RESULTED IN EXCESS BENEFIT TRANSACTIONS IN 2010 - 2013. THE TOTAL EXCESS COMPENSATION FOR 2010 THROUGH 2012 WAS $166,861. IN ADDITION, DURING 2011 AND 2012 THERE WAS $200,000 IN DEFERRED COMPENSATION THAT ACCRUED TO MS. BERLOWITZ'S BENEFIT PURSUANT TO A DEFERRED COMPENSATION PLAN. THERE IS A QUESTION WHETHER THAT AMOUNT VESTED AND, THEREFORE, IT IS NOT INCLUDED IN THE TOTAL ABOVE. IN ANY EVENT, THAT AMOUNT WAS NEVER PAID TO MS. BERLOWITZ, AND SHE SURRENDERED ANY CLAIM TO THAT DEFERRED COMPENSATION AS A RESULT OF SETTLEMENT NEGOTIATIONS WHICH RESULTED IN HER SEPARATION FROM THE ACADEMY IN JULY, 2013. 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 THE SENIOR STAFF AND DISTRIBUTED TO THE BOARD MEMBERS. 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 CONSISTING OF THE CHAIR OF THE BOARD, CHAIR OF THE FINANCE COMMITTEE, AND CHAIR OF THE NOMINATING & GOVERNANCE COMMITTEE MEETS ANNUALLY TO REVIEW THE PERFORMANCE AND DETERMINE THE SALARY OF THE PRESIDENT & CEO ON BEHALF OF THE BOARD. THE COMMITTEE UTILIZES 990 FORMS OF LIKE ORGANIZATIONS TO DETERMINE APPROPRIATENESS OF STAFF SALARIES. THE SALARY BUDGET FOR EACH FISCAL YEAR IS 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. OTHER FEES FORM 990, PART IX, LINE 11G EDITING: PROGRAM SERVICE EXPENSES 8,905. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 16,089. TOTAL EXPENSES 24,994. BUILDING AND GROUNDS REPAIRS AND MAINTENANCE: PROGRAM SERVICE EXPENSES 265,854. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 265,854. SECURITY SERVICES: PROGRAM SERVICE EXPENSES 41,926. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 41,926. PROGRAM CONSULTING : PROGRAM SERVICE EXPENSES 404,034. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 404,034. OTHER: PROGRAM SERVICE EXPENSES 417,227. MANAGEMENT AND GENERAL EXPENSES 70,471. FUNDRAISING EXPENSES 41,259. TOTAL EXPENSES 528,957. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: INCREASE IN BENEFICIAL INTEREST IN PERPETUAL TRUST 20,900. NORTON'S WOODS INC 136 IRVING STREET CAMBRIDGE MA 02138 043388917 EVENT SERVICES MA AMERICAN ACADEMY OF ARTS AND SCIENCES C 276285 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 624429 FAIR MARKET VALUE