2012-03-08T09:00:03-06:00 2011-06-30 CROWE HORWATH LLP 70 West Madison Street Suite 700 Chicago IL 606024903 990 2010-07-01 362251912 INSTITUTE FOR THE INTERNATIONAL EDUCATION OF STUDENTS INST 3129441750 33 North LaSalle Street Chicago IL 606022602 WILLIAM J MARTENS 2012-03-01 true 3128997000 2010 2016-02-24 21:20:13Z X IES ABROAD MARY M DWYER PHD 33 North LaSalle St Ste 1500 Chicago IL 606022602 135112889 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. X 21 20 151 47 0 0 464834 273380 79988721 80945426 718554 8358301 -1059988 535598 80112121 90112705 2022504 2601024 0 0 26774297 29494179 0 0 703078 48693407 51085075 77490208 83180278 2621913 6932427 86252827 58905470 61578439 8681552 24674388 50223918 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 62297781 2518383 67775199 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 3,900 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 32 LOCATIONS IN THE COUNTRIES OF ARGENTINA, AUSTRALIA, AUSTRIA, CHILE, CHINA, ECUADOR, ENGLAND, FRANCE, GERMANY, INDIA, IRELAND, ITALY, JAPAN, MOROCCO, THE NETHERLANDS, NEW ZEALAND, SOUTH AFRICA, AND SPAIN. 5862065 0 3783741 STUDENT HOUSING: IES ABROAD OPERATES A STUDENT HOUSING FACILITY IN LONDON FOR INTERNATIONAL AND LOCAL STUDENTS. CONSISTENT WITH ITS MISSION, IES ABROAD IS ABLE TO INTEGRATE COLLEGE AND POST-GRADUATE STUDENTS IN A COMMON LIVING ENVIRONMENT THAT FOSTERS INTERACTION FOR A MULTI-CULTURED EXPERIENCE. THE FACILITY IS LOCATED IN A COSMOPOLITAN DISTRICT THAT HAS CONVENIENT ACCESS TO PUBLIC TRANSPORTATION FOR AFFORDABLE ACCESS TO SCHOOLS, CULTURAL SITES, PARLIAMENT, AND BUSINESS DISTRICT. OVER 2,000 STUDENTS BENEFIT FROM THIS INTERCULTURAL STUDENT ACCOMMODATION. THIS FISCAL YEAR IES ABROAD SOLD ITS 50% INTEREST IN THE LONDON RESIDENCE HALL TO A THIRD PARTY FOR A GAIN OF $8,324,836. 2734188 0 4621526 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 900 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 21 LOCATIONS IN THE COUNTRIES OF ARGENTINA, AUSTRIA, CHILE, CHINA, ECUADOR, ENGLAND, FRANCE, GERMANY, INDIA, IRELAND, ITALY, JAPAN, MOROCCO, THE NETHERLANDS, SOUTH AFRICA, AND SPAIN. 2706556 82641 4764960 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 690 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 18 LOCATIONS IN THE COUNTRIES OF AUSTRALIA, AUSTRIA, CHILE, CHINA, ECUADOR, ENGLAND, FRANCE, GERMANY, IRELAND, ITALY, JAPAN, SPAIN AND SOUTH AFRICA. 2706556 82641 4764960 73600590 true true false false false false false false true true true false false false 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 true true false false false false false true 48 0 true 151 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 21 20 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 LA ME MD MA MI MN MS MO NH NJ NM NY NC ND OH OK OR PA RI SC TN UT VA WA WV X WILLIAM J MARTENS 3129441750 33 N LASALLE STREET CHICAGO IL 606022602 DR DANIELLE ALLEN 1 X 0 0 0 DR LOREN J ANDERSON 1 X 0 0 0 MS MARY CAHILLANE 1 X 0 0 0 MR JOHN COBLENTZ 1 X 0 0 0 MR JAMES E CRAWFORD III 1 X 2260 0 0 MS DEBORA DE HOYOS 1 X 0 0 0 DR MARY M DWYER 35 X X 515610 0 231027 DR MARK H ERICKSON 1 X 0 0 0 DR PAMELA BROOKS GANN 1 X 0 0 0 MR JOHN J GEAREN 1 X 0 0 0 DR HOMER J HOLLAND 1 X 0 0 0 MR REGGE LIFE 1 X 0 0 0 MR THOMAS J MCDONALD 1 X 0 0 0 MR ROBERT MCNEILL 1 X 0 0 0 DR KATHRYN M MOORE 1 X X 0 0 0 DR MARLA SALMON 1 X 0 0 0 MR ALAN SCHWARTZ 1 X 0 0 0 MR IAN H TURVILL 1 X 0 0 0 MS MONICA VACHHER 1 X X 0 0 0 MR EZIO VERGANI 1 X X 0 0 0 DR KRISTI WORMHOUDT 1 X 0 0 0 JOHN LUCAS 35 X 130378 0 18824 MICHAEL GREEN 35 X 126166 0 27359 MICHAEL STEINBERG 35 X 224644 0 32640 ROGER SHEFFIELD 35 X 188747 0 15335 RICHARD BARTECKI 35 X 200474 0 18740 RICHARD IAN ELLIS 35 X 194948 0 31274 WILLIAM P HOYE 35 X 354713 0 38251 WILLIAM J MARTENS 35 X 216712 0 40383 2154652 0 453833 18 false true false NORTOC INC 1454 N ORLEANS CHICAGO IL 60610 WEB DEVELOPMENT 473229 E2 SERVICES 440 TREASURE DRIVE OSWEGO IL 60543 IT MANAGEMENT SERVICE PROVIDER 250219 DELTA VORTEX TECHNOLOGIES INC 792 BROMPTON LANE BOLINGBROOK IL 60440 WEB DEVELOPMENT 243720 DOMAIN CHELSEA POINT MANAGEMENT LTD BUILDING CONSULTANT 180984 DRIVE CHANGE LLC 202 S EUCLID AVE OAK PARK IL 60302 BUSINESS CONSULTANT 154000 6 273380 273380 TUITION AND FEES 65620686 64852138 768548 ROOM AND BOARD 15272649 15272649 MEMBER SCHOOL FEE 25200 25200 TRANSCRIPT FEE 16545 16545 INSTALLMENT FEE 10000 10000 346 346 0 0 80945426 416219 416219 0 0 57188 57188 0 57188 57188 2707229 50235037 3089983 41910201 -382754 8324836 7942082 7942082 0 0 0 GAIN ON SETTLEMENT OF FOREIGN CURRENCY CONTRACTS 478410 478410 0 0 0 0 478410 90112705 80176878 0 9662447 0 2438402 2438402 162622 162622 0 1869599 632228 1037654 199717 0 22109235 20306938 1682377 119920 938850 771669 158619 8562 1237074 1008854 216502 11718 3339421 3154052 158561 26808 0 232877 47131 185746 403406 299074 104332 0 0 0 1528465 831213 686479 10773 922355 39461 710967 171927 1846749 1147479 605297 93973 1586364 666233 920131 0 9837531 9117919 719612 5162094 4385104 721519 55471 0 253435 109354 144081 0 0 2082724 1388245 694479 95362 95280 82 STUDENT HOUSING & MEALS 15923491 15923491 STUDENT INSTRUCTION AND TUITION 7733368 7733368 STUDENT SERVICES 1925245 1925245 FIELD TRIPS 540462 540462 FURNITURE & EQUIPMENT 216174 203311 12863 794973 673455 117309 4209 83180278 73600590 8876610 703078 0 8114082 9092931 17206911 17780505 126376 92165 1496771 1479394 0 0 0 0 0 0 2412 0 604291 832637 12457063 10983993 38212802 1473070 15787221 20692664 4696101 5052540 0 0 0 0 5860 2409564 86252827 58905470 5006408 4795084 0 0 4020919 3886468 0 0 0 0 0 0 19420700 0 0 0 33130412 0 61578439 8681552 X 24037303 49269731 22002 144252 615083 809935 0 0 0 0 0 0 24674388 50223918 86252827 58905470 X 6932427 18617103 X false true true X false X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 637085 161460 151284 -1919 951748 235966 414943 34464 48288 637085 235966 235966 0.00000 0.85000 0.15000 false false 0 1698961 1523580 175381 4958743 3693902 1264841 5799359 5766511 32848 0 1473070 0 0 HEDGE FUNDS 2214370 F PARTNERSHIP INVESTMENTS 2838170 F 5052540 0 0 90112705 83180278 6932427 5273877 13343226 18617103 25549530 100329677 5273877 13267931 18541808 81787869 8324836 8324836 90112705 74780147 -8400131 -8400131 83180278 0 0 83180278 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 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, 2011 OR 2010. DUE TO ITS TAX EXEMPT STATUS, IES IS NOT SUBJECT TO THE U.S. FEDERAL 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, 2008. IES DOES NOT EXPECT THE TOTAL AMOUNT OF UNRECOGNIZED TAX BENEFITS TO SIGNIFICANTLY CHANGE IN THE NEXT 12 MONTHS. Other changes in net assets Schedule D, Part XI, Line 8 UNREALIZED GAIN ON FOREIGN CURRENCY CONTRACTS - 12968645; FOREIGN CURRENCY TRANSLATION ADJUSTMENT - 299286; CHANGE IN ALLOWANCE FOR BAD DEBT - 75295; Other revenues in audited financial statements not in form 990 Schedule D, Part XII, Line 2d UNREALIZED GAIN ON FOREIGN CURRENCY CONTRACTS - 12968645; FOREIGN CURRENCY TRANSLATION ADJUSTMENT - 299286; Other revenues in form 990 not in audited financial statements Schedule D, Part XII, Line 4b GAIN ON SALE OF RESIDENCE HALL - 8324836; Other expenses in audited financial statements not in form 990 Schedule D, Part XIII, Line 2d GAIN ON SALE OF RESIDENCE HALL - -8324836; CHANGE IN ALLOWANCE FOR BAD DEBT - -75295; true true true true true true true false false false false false false false false false true true EAST ASIA AND THE PACIFIC 7 28 PROGRAM SERVICES EDUCATION/CURRICULUM 7685864 EUROPE (INCLUDING ICELAND AND GREENLAND) 19 117 PROGRAM SERVICES EDUCATION/CURRICULUM 41067129 SOUTH ASIA 1 7 PROGRAM SERVICES EDUCATION/CURRICULUM 555633 SOUTH AMERICA 3 27 PROGRAM SERVICES EDUCATION/CURRICULUM 3970338 SUB SAHARAN AFRICA 1 4 PROGRAM SERVICES EDUCATION/CURRICULUM 1007448 MIDDLE EAST AND NORTH AFRICA 1 3 PROGRAM SERVICES EDUCATION/CURRICULUM 545896 CENTRAL AMERICA AND THE CARIBBEAN PASSIVE INVESTMENTS 2214370 32 186 57046678 SCHOLARSHIPS - INTERNATIONAL STUDENTS EUROPE (INCLUDING ICELAND AND GREENLAND) 1 12955 TUITION DISCOUNT 0 N/A N/A SCHOLARSHIPS - UNIVERSIDAD COMPLUTENSE EUROPE (INCLUDING ICELAND AND GREENLAND) 3 99615 TUITION DISCOUNT 0 N/A N/A SCHOLARSHIPS - UNIVERSIDAD DE GRANADA EUROPE (INCLUDING ICELAND AND GREENLAND) 2 30790 TUITION DISCOUNT 0 N/A N/A SCHOLARSHIPS - UNIVERSITE LA SORBONNE EUROPE (INCLUDING ICELAND AND GREENLAND) 1 19262 TUITION DISCOUNT 0 N/A N/A false false false false false false Procedures for monitoring use of grant funds Schedule F, Part I, Line 2 A PORTION OF IES' SCHOLARSHIPS ARE OFFERED TO A NUMBER OF IES ABROAD PARTNER INSTITUTIONS LOCATED IN SEVERAL OF OUR STUDY ABROAD LOCATIONS. THESE SCHOLARSHIPS HAVE BEEN NEGOTIATED WITH THE VARIOUS FOREIGN INSTITUTIONS AS PART OF IES ABROAD'S MASTER AGREEMENTS WITH THEM AND ARE 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. true MERIT SCHOLARSHIPS AWARDED TO STUDENTS 140 253386 NEED-BASED SCHOLARSHIPS AWARDED TO STUDENTS 384 465960 SCHOLARSHIPS AWARDED TO STUDENTS FROM HISTORICALLY BLACK COLLGES AND UNIVERSITIES 28 56000 PUBLIC UNIVERSITY GRANT 936 1496075 SUMMER NEED BASED AID 61 46250 LEGACY SCHOLARSHIPS 51 36450 VIENNA CENTER MUSIC SCHOLARSHIP 1 7170 SUMMER SCHOLARS SCHOLARSHIP 19 77111 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 DR MARY M DWYER 476298 0 0 0 39312 0 213675 0 17352 0 746637 0 0 0 MICHAEL GREEN 109545 0 9934 0 6687 0 11138 0 16221 0 153525 0 0 0 MICHAEL STEINBERG 194035 0 0 0 30609 0 21432 0 11208 0 257284 0 0 0 ROGER SHEFFIELD 166033 0 0 0 22714 0 8562 0 6773 0 204082 0 0 0 RICHARD BARTECKI 178848 0 5000 0 16626 0 10342 0 8398 0 219214 0 0 0 RICHARD IAN ELLIS 184699 0 0 0 10249 0 15653 0 15621 0 226222 0 0 0 WILLIAM P HOYE 316055 0 20000 0 18658 0 18883 0 19368 0 392964 0 0 0 WILLIAM J MARTENS 189423 0 0 0 27289 0 21255 0 19128 0 257095 0 0 0 Tax indemnification and gross-up payments Schedule J, Part I, Line 1a THE ORGANIZATION'S PRESIDENT HAS HER OWN SUPPLEMENTAL LONG TERM DISABILITY INSURANCE FOR WHICH IES REIMBURSES HER. THE ORGANIZATION THEN PAYS THE TAX ATTRIBUTABLE TO THE REIMBURSEMENT ON BEHALF OF THE ORGANIZATION'S PRESIDENT. Discretionary spending account Schedule J, Part I, Line 1a THE ORGANIZATION PROVIDED A DISCRETIONARY SPENDING ACCOUNT OR ALLOWANCE ACCOUNT FOR BUSINESS RELATED EXPENSES FOR A MEMBER OF THE BOARD OF DIRECTORS. THE RELATED BENEFIT WAS INCLUDED IN THE RECIPIENTS TAXABLE COMPENSATION. Supplemental nonqualified retirement plan Schedule J, Part I, Line 4b MARY M. DWYER, PRESIDENT, 457(F) PLAN - $165,650 IES SOLD ITS 50% OWNERSHIP INTEREST IN REAL ESTATE LOCATED IN LONDON AND SIMULTANEOUSLY TERMINATED ITS CAPITAL LEASE AGREEMENT FOR THE REMAINING 50% OF THE SAME PROPERTY. 2011-04-04 47630146 SALES AGREEMENT W UNRELATED PARTY MANSION GROUP LOCATED BERKELEY SQ HOUSE LONDON UK N/A N/A false false false false 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 690 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 18 LOCATIONS IN THE COUNTRIES OF AUSTRALIA, AUSTRIA, CHILE, CHINA, ECUADOR, ENGLAND, FRANCE, GERMANY, IRELAND, ITALY, JAPAN, SPAIN AND SOUTH AFRICA. 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. 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. 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 990L, PART VI, SECTION B, LINE 15A Public Disclosure 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 GAINS (LOSSES) ON INVESTMENTS - 5273877; FOREIGN CURRENCY TRANSLATION ADJUSTMENT - 299286; UNREALIZED GAIN ON FOREIGN CURRENCY CONTRACTS - 12968645; CHANGE IN ALLOWANCE FOR BAD DEBT - 75295; STICHTING IES AMSTERDAM OUDEZIJDS ACHTERBURGWAL 185 AMSTERDAM AMSTERDAM NL 1011 TD ABROAD PROG NL 55850 66886 IES INSTITUTE FOR INTL ED OF STUDENTS - SF STEVE BIKO BUILDING UPPER CAMPUS UNIVERSITY OF CAPE TOWN RONDEBOSCH SF 7701 ABROAD PROG SF 5210 51212 IES SOCIETY FOR THE INTL ED OF STUDENTS D-986 NEW FRIENDS COLONY NEW DELHI IN 110 0065 ABROAD PROG IN 0 56761 IES LONDON CENTRE OF THE INST EUROPEAN STUDIES 5 BLOOMSBURY PLACE LONDON UK WC1A 2QP ABROAD PROG UK 11362206 3548418 IES IES NANTES ASSOCIATION 7 RUE DES CADENIERS NANTES FR 44000 ABROAD PROG FR 0 21912 IES ASSOCIATION D'IES ABROAD-PARIS 77 RUE DAGUERRE PARIS FR 75014 ABROAD PROG FR 441 713226 IES IES FOUNDATION (QUITO ECUADOR) ABROAD PROG EC 270 182521 IES THE INST FOR THE INTL ED OF STUDENTS ABROAD PROG SP 33763 1830472 IES INST FOR THE INTL ED OF STUDENTS PTY 33 N LASALLE 15TH FLOOR CHICAGO IL 60602 ABROAD PROG IL 0 0 IES IES ABROAD 89 AVENUE MOULAY ISMAIL RABAT-HASSAN RABAT MO ABROAD PROG MO 0 180102 IES