2013-01-14T13:00:27-06:00 2012-06-30 CROWE HORWATH LLP 70 West Madison Street Suite 700 Chicago IL 606024903 990 2011-07-01 362251912 INSTITUTE FOR THE INTERNATIONAL EDUCATION OF STUDENTS INST 3129441750 33 W Monroe Street Chicago IL 606035405 WILLIAM J MARTENS 2012-10-04 true Nicole Bencik P00756195 3128997000 2011 2016-02-25 16:41:14Z X IES ABROAD MARY M DWYER PHD 33 W Monroe St Ste 2300 Chicago IL 606035405 79634046 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. 18 17 154 42 0 0 273380 307076 80945426 79643720 8358301 590103 535598 -1894406 90112705 78646493 2601024 2484170 0 0 29494179 29234969 0 0 670932 51085075 48801048 83180278 80520187 6932427 -1873694 58905470 53680161 8681552 12421357 50223918 41258804 X 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. CONTINUED IN SCHEDULE O. false false 57550319 2417231 65860104 STANDARD & DIRECT ENROLLMENT PROGRAMS: IES OFFERS A BROAD-BASED CURRICULUM THAT ENCOMPASSES THE HUMANITIES, LANGUAGES, FINE ARTS, SOCIAL AND NATURAL SCIENCES, BUSINESS, MATHEMATICS, AND PRE-PROFESSIONAL STUDIES. OVER 3,800 STUDENTS BENEFITED FROM OUR STANDARD 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 33 LOCATIONS IN THE COUNTRIES OF ARGENTINA, AUSTRALIA, AUSTRIA, CHILE, CHINA, ECUADOR, ENGLAND, FRANCE, GERMANY, INDIA, IRELAND, ITALY, JAPAN, MOROCCO, NETHERLANDS, NEW ZEALAND, SOUTH AFRICA, AND SPAIN. 3813967 2768121 STUDENT HOUSING: FOR 9 MONTHS, IES ABROAD OPERATED A LEASED STUDENT HOUSING FACILITY IN LONDON FOR INTERNATIONAL STUDENTS. CONSISTENT WITH ITS MISSION, IES ABROAD WAS ABLE TO INTEGRATE COLLEGE AND POST-GRADUATE STUDENTS IN A COMMON LIVING ENVIRONMENT THAT FOSTERED INTERACTION FOR A MULTI-CULTURED EXPERIENCE. THE FACILITY WAS LOCATED IN A COSMOPOLITAN DISTRICT THAT HAD CONVENIENT ACCESS TO PUBLIC TRANSPORTATION FOR AFFORDABLE ACCESS TO SCHOOLS, CULTURAL SITES, PARLIAMENT, AND THE BUSINESS DISTRICT. OVER 1,100 STUDENTS BENEFITED FROM THIS INTERCULTURAL STUDENT ACCOMMODATION. THIS FISCAL YEAR, IES ABROAD CEASED THE OPERATION OF THE LONDON RESIDENCE HALL. 3671739 6273879 CUSTOMIZED PROGRAMS: AS THE NAME IMPLIES, IES OFFERS CUSTOMIZED PROGRAMS DESIGNED TO MEET SPECIFIC REQUIREMENTS OF THE CONTRACTING UNIVERSITIES. THE VARYING PROGRAMS' CURRICULA SPAN THE HUMANITIES, LANGUAGES, EDUCATION, FINE ARTS, SOCIAL AND NATURAL SCIENCES, BUSINESS, MATHEMATICS, TECHNOLOGY, ENGINEERING, AND PRE-PROFESSIONAL STUDIES AT THE UNDERGRADUATE AND GRADUATE LEVELS. OVER 1200 STUDENTS BENEFITED FROM OUR CUSTOMIZED PROGRAMS BY ENHANCING THEIR ACADEMIC AND SOCIAL GROWTH WHILE EXPANDING THEIR INTERCULTURAL COMPETENCY. STUDENTS EARNED COLLEGE CREDITS TOWARD THEIR COURSE WORK BY STUDYING AT ONE OR A COMBINATION OF OUR 24 LOCATIONS IN THE COUNTRIES OF ARGENTINA, AUSTRALIA, AUSTRIA, CHILE, CHINA, ENGLAND, FRANCE, GERMANY, INDIA, IRELAND, ITALY, JAPAN, MOROCCO, NETHERLANDS, NEW ZEALAND, SOUTH AFRICA, AND SPAIN. 2522784 66939 4741616 SUMMER PROGRAMS: IES OFFERS A BROAD-BASED CURRICULUM THAT ENCOMPASSES THE HUMANITIES, LANGUAGES, FINE ARTS, SOCIAL AND NATURAL SCIENCES, BUSINESS, MATHEMATICS, AND PRE-PROFESSIONAL STUDIES. OVER 700 STUDENTS BENEFITED FROM OUR SUMMER PROGRAMS BY ENHANCING THEIR ACADEMIC AND SOCIAL GROWTH WHILE EXPANDING THEIR INTERCULTURAL COMPETENCY. MANY SUMMER PROGRAMS OFFER INTERNSHIPS AND OFFER STUDENTS A MORE ECONOMICAL OPTION TO A FULL SEMESTER AND A VIABLE ALTERNATIVE FOR STUDENTS WITH RIGOROUS ACADEMIC SCHEDULES. STUDENTS IN OUR SUMMER PROGRAMS EARN CREDITS TOWARD COLLEGE COURSE WORK BY STUDYING AT ONE OF OUR 20 LOCATIONS IN THE COUNTRIES OF AUSTRALIA, AUSTRIA, CHILE, CHINA, ECUADOR, ENGLAND, FRANCE, GERMANY, IRELAND, ITALY, JAPAN, AND SPAIN. 2522784 66939 4741616 67558809 true true false false false false false false true true true false false true true true false true true true false true false 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 56 0 true 154 true false true AR AS AU CJ CI CH EC FR GM IN EI IT JA MO NL PM SF SP UK false false false false false false false false X 18 17 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 OH OK OR PA RI SC TN UT VA WA WV WI X WILLIAM J MARTENS 3129441750 33 W Monroe Street Ste 2300 CHICAGO IL 606035405 DR KATHRYN M MOORE 1.00 X X 456 0 0 DR MARY M DWYER 35.00 X X 618495 0 136068 MR EZIO VERGANI 1.00 X X 0 0 0 MS MONICA VACHHER 1.00 X X 0 0 0 DR HOMER J HOLLAND 1.00 X 734 0 0 DR KRISTI WORMHOUDT 1.00 X 0 0 0 DR LOREN J ANDERSON 1.00 X 0 0 0 DR MARK H ERICKSON 1.00 X 315 0 0 DR MARLA SALMON 1.00 X 0 0 0 DR PAMELA BROOKS GANN 1.00 X 0 0 0 IAN H TURVILL 1.00 X 2316 0 0 JOHN COBLENTZ 1.00 X 207 0 0 MR ALAN SCHWARTZ 1.00 X 2257 0 0 MR JAMES E CRAWFORD III 1.00 X 310 0 0 MR JOHN J GEAREN 1.00 X 0 0 0 MR ROBERT MCNEILL 1.00 X 0 0 0 MR THEODORE REGGE LIFE 1.00 X 2100 0 0 MR THOMAS J MCDONALD 1.00 X 0 0 0 MS DEBORA DE HOYOS 1.00 X 2121 0 0 MS MARY CAHILLANE 1.00 X 0 0 0 WILLIAM J MARTENS 35.00 X 217036 0 43001 WILLIAM P HOYE 35.00 X 380569 0 41034 MICHAEL STEINBERG 35.00 X 232860 0 33527 JOHN LUCAS 35.00 X 136325 0 20387 MICHAEL GREEN 35.00 X 130610 0 29748 RICHARD BARTECKI 35.00 X 221139 0 29937 RICHARD IAN ELLIS 35.00 X 205468 0 34669 ROGER SHEFFIELD 35.00 X 192875 0 24909 2346193 0 393280 19 false true false NORTOC INC 1454 N ORLEANS CHICAGO IL 60610 WEB DEVELOPMENT 441909 ADDISON SEARCH LLC 7076 SOLUTIONS CENTER CHICAGO IL 606777700 EMPLOYEE RECRUITMENT 312845 DELTA VORTEX TECHNOLOGIES INC 792 BROMPTON LANE BOLINGBROOK IL 60440 WEB DEVELOPMENT 253675 E2 SERVICES 440 TREASURE DRIVE OSWEGO IL 60543 IT MANAGEMENT SERVICE PROVIDER 226900 DUO CONSULTING INC 20 WEST KINZIE CHICAGO IL 60654 CONSULTANT WEB DEVELOPMENT 143955 5 307076 307076 TUITION AND FEES 900099 65418767 64611858 806909 ROOM AND BOARD 900099 14176473 14176473 MEMBER SCHOOL FEE 900099 25550 25550 TRANSCRIPT FEE 900099 14585 14585 INSTALLMENT FEE 900099 8000 8000 345 345 0 0 79643720 611340 611340 0 0 0 0 0 966316 987553 -21237 0 -21237 -21237 0 0 0 LOSS ON SETTLEMENT OF FOREIGN CURRENCY CONTRACTS 900099 -1894406 -1894406 0 0 0 0 -1894406 78646493 78836811 0 -497394 0 2454580 2454580 29590 29590 0 2266303 259555 1794438 212310 0 21556795 17243703 4222543 90549 904025 548781 347089 8155 1197469 731898 444992 20579 3310377 2874537 414428 21412 0 605630 312014 293616 422379 308780 113599 0 0 25000 25000 1448020 908926 504026 35068 769100 16025 639443 113632 1602980 979143 537157 86680 1730488 552008 1178480 0 9793985 9129690 664295 5110054 4494806 581776 33472 0 263108 110578 125989 26541 23739 5935 17804 0 810992 516155 294837 84024 84024 STUDENT HOUSING & MEALS 14857391 14857391 STUDENT INSTRUCTION AND TUITION 7993886 7993886 STUDENT SERVICES 2010505 2010505 1249767 1136299 90934 22534 80520187 67558809 12290446 670932 0 9092931 7722175 17780505 9000704 92165 103964 1479394 1552273 0 0 0 0 832637 1196483 10915408 9183185 1473070 1732223 20692664 25555373 5052540 6811038 0 0 0 2409564 5928 58905470 53680161 4795084 4977161 0 3886468 3385722 0 0 0 0 0 0 4058474 8681552 12421357 X 49269731 40174723 144252 121486 809935 962595 0 0 0 50223918 41258804 58905470 53680161 X -1873694 -7091420 X false true true X false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 951748 152310 -13610 8631 1081817 637085 161460 151284 -1919 951748 235966 414943 34464 48288 637085 235966 235966 0.00000 0.89000 0.11000 false false 0 1483281 1367130 116151 4418014 3787147 630867 3874658 3819098 55560 1139455 209810 929645 1732223 0 0 HEDGE FUNDS 3210476 F PARTNERSHIP INVESTMENTS 3600562 F 6811038 0 ACCRUED LOSS ON FOREIGN CURRENCY CONTRACTS 3132612 CAPITAL LEASE-EQUIPMENT 925862 4058474 78646493 80520187 -1873694 -816761 -6274659 -7091420 -8965114 71513920 -816761 -6315812 -7132573 78646493 0 0 78646493 80479034 0 0 80479034 41153 41153 80520187 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 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, 2012 OR 2011. 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, 2009. 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 true EAST ASIA AND THE PACIFIC 9 26 PROGRAM SERVICES EDUCATION/CURRICULUM 8882647 EUROPE (INCLUDING ICELAND AND GREENLAND) 20 106 PROGRAM SERVICES EDUCATION/CURRICULUM 45928847 SOUTH ASIA 1 4 PROGRAM SERVICES EDUCATION/CURRICULUM 459951 SOUTH AMERICA 5 20 PROGRAM SERVICES EDUCATION/CURRICULUM 4211417 SUB SAHARAN AFRICA 1 4 PROGRAM SERVICES EDUCATION/CURRICULUM 780443 MIDDLE EAST AND NORTH AFRICA 1 4 PROGRAM SERVICES EDUCATION/CURRICULUM 722604 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS PASSIVE INVESTMENTS 3210476 37 164 64196385 SCHOLARSHIPS - UNIVERSIDAD DE GRANADA EUROPE (INCLUDING ICELAND AND GREENLAND) 2 29590 TUITION ASSISTANCE 0 N/A true false false 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 EAST ASIA AND THE PACIFIC: ACCRUAL EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL SOUTH ASIA: ACCRUAL SOUTH AMERICA: ACCRUAL SUB SAHARAN AFRICA: ACCRUAL MIDDLE EAST AND NORTH AFRICA: ACCRUAL CENTRAL AMERICA AND THE CARIBBEAN: ACCRUAL Method used to account for grants on organization's financial statements Schedule F, Part III EUROPE (INCLUDING ICELAND AND GREENLAND): ACCRUAL true MERIT SCHOLARSHIPS AWARDED TO STUDENTS 120 225246 0 N/A N/A NEED-BASED SCHOLARSHIPS AWARDED TO STUDENTS 379 487000 0 N/A N/A SCHOLARSHIPS AWARDED TO STUDENTS FROM HISTORICALLY BLACK COLLGES AND UNIVERSITIES 22 44000 0 N/A N/A PUBLIC UNIVERSITY GRANT 903 1506129 0 N/A N/A SUMMER NEED BASED AID 53 46000 0 N/A N/A LEGACY SCHOLARSHIPS 51 40050 0 N/A N/A VIENNA CENTER MUSIC SCHOLARSHIP 1 10000 0 N/A N/A UNIVERSITY OF CANTERBURY STUDY ABROAD SCHOLARSHIP 5 10116 0 N/A N/A SUMMER SCHOLARS 19 82946 0 N/A N/A STUDENT ASSISTANTSHIP SCHOLARSHIP 2 3093 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 X X true true X X X X X false true false false false false false false false DR MARY M DWYER 608607 0 0 0 9888 0 117285 0 18783 0 754563 0 0 0 WILLIAM P HOYE 371365 0 5000 0 4204 0 18750 0 22284 0 421603 0 0 0 WILLIAM J MARTENS 216476 0 0 0 560 0 21228 0 21773 0 260037 0 0 0 MICHAEL STEINBERG 227743 0 0 0 5117 0 22019 0 11508 0 266387 0 0 0 RICHARD BARTECKI 200540 0 20105 0 494 0 15267 0 14670 0 251076 0 0 0 RICHARD IAN ELLIS 205136 0 0 0 332 0 17806 0 16863 0 240137 0 0 0 ROGER SHEFFIELD 192564 0 0 0 311 0 14786 0 10123 0 217784 0 0 0 MICHAEL GREEN 120431 0 10000 0 179 0 11498 0 18250 0 160358 0 0 0 JOHN LUCAS 136188 0 0 0 137 0 10555 0 9832 0 156712 0 0 0 Travel for companions Schedule J, Part I, Line 1a THE ORGANIZATION PAID FOR CULTURAL ACTIVITIES, LOCAL TRAVEL, AND HEALTH INSURANCE FOR GUESTS OF SOME MEMBERS OF THE BOARD OF DIRECTORS. THE RELATED BENEFIT WAS INCLUDED IN THE BOARD MEMBER'S TAXABLE COMPENSATION. 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. Discretionary spending account Schedule J, Part I, Line 1a THE ORGANIZATION PROVIDED A DISCRETIONARY SPENDING ACCOUNT OR ALLOWANCE ACCOUNT FOR BUSINESS RELATED EXPENSES FOR SEVERAL MEMBERS OF THE BOARD OF DIRECTORS. THE RELATED BENEFIT WAS INCLUDED IN THE RECIPIENT'S TAXABLE COMPENSATION. Health or social club dues or initiation fees Schedule J, Part I, Line 1a THE ORGANIZATION PAID FOR THE TRAVEL CLUB MEMBERSHIP FOR THE COMPANY'S PRESIDENT. THIS WAS INCLUDED IN HER W2 AS TAXABLE COMPENSATION. Supplemental nonqualified retirement plan Schedule J, Part I, Line 4b MARY M. DWYER, PRESIDENT, 457(F) PLAN - $74,843 Description of other program services Form 990, Part III, Line 4d SUMMER PROGRAMS: IES OFFERS A BROAD-BASED CURRICULUM THAT ENCOMPASSES THE HUMANITIES, LANGUAGES, FINE ARTS, SOCIAL AND NATURAL SCIENCES, BUSINESS, MATHEMATICS, AND PRE-PROFESSIONAL STUDIES. OVER 700 STUDENTS BENEFITED FROM OUR SUMMER PROGRAMS BY ENHANCING THEIR ACADEMIC AND SOCIAL GROWTH WHILE EXPANDING THEIR INTERCULTURAL COMPETENCY. MANY SUMMER PROGRAMS OFFER INTERNSHIPS AND OFFER STUDENTS A MORE ECONOMICAL OPTION TO A FULL SEMESTER AND A VIABLE ALTERNATIVE FOR STUDENTS WITH RIGOROUS ACADEMIC SCHEDULES. STUDENTS IN OUR SUMMER PROGRAMS EARN CREDITS TOWARD COLLEGE COURSE WORK BY STUDYING AT ONE OF OUR 20 LOCATIONS IN THE COUNTRIES OF AUSTRALIA, AUSTRIA, CHILE, CHINA, ECUADOR, ENGLAND, FRANCE, GERMANY, IRELAND, ITALY, JAPAN, AND SPAIN. Review of form 990 by governing body Form 990, Part VI, Section B, Line 11b IES MANAGEMENT, AND THE CHAIR OF IES-ABROAD'S AUDIT COMMITTEE, REVIEWS THE FULL FORM 990 IN DETAIL IN CONJUNCTION WITH THE ORGANIZATION'S INDEPENDENT PAID TAX PREPARERS. SUBSEQUENT TO THIS REVIEW, MANAGEMENT DISTRIBUTES A COPY 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 BY 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. IES ABROAD DOES NOT KNOWINGLY ALLOW FOR ANY IES BUSINESS TO BE CONDUCTED WITH A BOARD MEMBER OR RELATIVE OF A BOARD MEMBER. 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 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. ALTHOUGH SHE IS A MEMBER OF THE IES BOARD, 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 OFFICERS' COMPENSATION. THE INDEPENDENT FIRM USES MARKET SURVEYS AND OTHER RESOURCES TO COMPARE THE COMPENSATION OF EACH IES OFFICERS' AND POSITION TO SIMILAR (OR IDENTICAL) POSITIONS AT OTHER NON-PROFIT 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 A OUTSIDE COMPENSATION REVIEW FIRM FOR EXECUTIVE COMPENSATION IN MAY OF 2012. THE OVERARCHING GOAL OF IES' COMPENSATION POLICY IS DESIGNED TO ACHIEVE COMPENSATION LEVELS FOR ITS OFFICERS AT COMPETITIVE MARKET RATES. ANNUALLY, IES REVIEWS THE PERFORMANCE OF EACH OF ITS 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. WHEN THERE IS A SIGNIFICANT CHANGE IN COMPENSATION FOR AN OFFICER, AN EXTERNAL COMPENSATION FIRM IS RETAINED BY THE BOARD OF DIRECTORS TO ADVISE THE BOARD EXECUTIVE COMMITTEE OF THE COMPETITIVENESS OF THE PROPOSED SALARY INCREASE AND TOTAL COMPENSATION PROGRAM. IN ADDITION, 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 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. 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 THE ORGANIZATION'S SELECT OFFICERS IS 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 5 NET UNREALIZED LOSS ON INVESTMENTS - -816761; FOREIGN CURRENCY TRANSLATION ADJUSTMENT - -779526; UNREALIZED LOSS OF FOREIGN CURRENCY CONTRACTS - -5536286; CHANGE IN ALLOWANCE FOR BAD DEBT - 41153; STICHTING IES AMSTERDAM OUDEZIJDS ACHTERBURGWAL 185 AMSTERDAM AMSTERDAM NL 1012 DK ABROAD PROG NL 82154 287585 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 14695 107065 IES SOCIETY FOR THE INTL ED OF STUDENTS (DELHI) D-986 NEW FRIENDS COLONY NEW DELHI IN 110 0065 ABROAD PROG IN -5399 32576 IES LONDON CENTRE OF THE INST EUROPEAN STUDIES 5 BLOOMSBURY PLACE LONDON UK WC1A 2QP ABROAD PROG UK 1933316 3270912 IES IES NANTES ASSOCIATION 7 RUE DES CADENIERS NANTES FR 44000 ABROAD PROG FR 0 56667 IES ASSOCIATION D'IES ABROAD-PARIS 77 RUE DAGUERRE PARIS FR 75014 ABROAD PROG FR 477 603840 IES IES FOUNDATION (QUITO ECUADOR) ABROAD PROG EC 0 57421 IES THE INST FOR THE INTL ED OF STUDENTS (SPAIN) ABROAD PROG SP 16359 1435537 IES IES ABROAD (RABAT) 89 AVENUE MOULAY ISMAIL RABAT-HASSAN RABAT MO 10006 ABROAD PROG MO 961 57247 IES IES ABORAD PATHWAYS LLC 33 N LASALLE STREET 15TH FLOOR CHICAGO IL 606022602 900760755 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