2026-05-14T22:57:34-05:00 2025-06-30 410746749 CLIFTONLARSONALLEN LLP TWO INTERNATIONAL PLACE 22ND FLOOR BOSTON MA 02110 990 2024-07-01 530196577 THE BROOKINGS INSTITUTION BROO 2027976000 1775 MASSACHUSETTS AVENUE NW WASHINGTON DC 20036 BEN CAHEN INTERIM CFO 2027976000 2026-05-15 1 1 LINDSEY PIGG P01268923 7819821001 2026-05-12 2024 2025-03-06 01:10:19Z CECILIA ELENA ROUSE 1775 MASSACHUSETTS AVENUE NW WASHINGTON DC 20036 179272789 0 1 X WWW.BROOKINGS.EDU X 1939 DC TO CONDUCT IN-DEPTH, INDEPENDENT RESEARCH THAT LEADS TO NEW IDEAS FOR SOLVING PROBLEMS FACING SOCIETY 49 49 603 53 2259438 1226082 70308087 78163017 1795564 1255606 35415454 34574200 1510159 1666878 109029264 115659701 4579594 4522561 0 0 73166484 74998820 0 0 8338461 24574713 28213126 102320791 107734507 6708473 7925194 550992155 571797924 63152142 61888121 487840013 509909803 X THE BROOKINGS INSTITUTION (BROOKINGS) IS A NONPROFIT PUBLIC POLICY ORGANIZATION THAT CONDUCTS IN-DEPTH, INDEPENDENT RESEARCH THAT LEADS TO NEW IDEAS FOR SOLVING PROBLEMS FACING SOCIETY AT THE LOCAL, NATIONAL, AND GLOBAL LEVEL. HEADQUARTERED IN WASHINGTON, DC, BROOKINGS IS ORGANIZED INTO FIVE RESEARCH PROGRAMS THAT FOCUS ON DOMESTIC AND INTERNATIONAL ECONOMICS, FOREIGN POLICY, SUSTAINABLE DEVELOPMENT, GOVERNANCE, AND METROPOLITAN POLICY. BROOKINGS ACHIEVES IMPACT BY PROVIDING POLICY ANALYSIS AND RECOMMENDATIONS ON PRESSING POLICY CHALLENGES, WHICH ARE DISSEMINATED THROUGH REPORTS, BOOKS, MEDIA APPEARANCES, OP-EDS, BLOG POSTS, MEETINGS, EVENTS, CONGRESSIONAL TESTIMONY, AND BRIEFINGS. 0 0 22355350 867301 4727 ECONOMIC STUDIES:THE ECONOMIC STUDIES PROGRAM PROVIDES ANALYSIS OF CURRENT AND EMERGING ECONOMIC ISSUES TO INFORM PUBLIC POLICY THROUGH INNOVATIVE AND PRACTICAL POLICY SOLUTIONS. OVER THE PAST YEAR, ECONOMIC STUDIES SCHOLARS CONDUCTED RIGOROUS RESEARCH AND POLICY ANALYSIS IN AREAS INCLUDING BUT NOT LIMITED TO SOUND MONETARY AND FISCAL POLICY, TAXATION, INCLUSIVE SOCIO-ECONOMIC POLICY, ECONOMIC OPPORTUNITY AND MOBILITY, HEALTH CARE AND SOCIAL INSURANCE ECONOMICS, AND THE EFFICIENT WORKING OF MARKETS. THE ECONOMIC STUDIES PROGRAM DISSEMINATED ITS FREQUENTLY CITED SCHOLARSHIP IN PUBLISHED REPORTS, RESEARCH PAPERS, JOURNALS, LONGER-FORM BOOKS AND SHORTER-FORM OP-EDS AND BLOG POSTS, AS WELL AS THROUGH EVENTS. 20258913 2118473 3200 GLOBAL ECONOMY AND DEVELOPMENT:THE GLOBAL ECONOMY & DEVELOPMENT (GLOBAL) PROGRAM OFFERS INNOVATIVE POLICY SOLUTIONS AND TOOLS TO HELP GLOBAL, NATIONAL, AND LOCAL POLICYMAKERS BUILD MORE EQUITABLE AND SUSTAINABLE ECONOMIC SYSTEMS THAT DELIVER PROSPERITY AND WELL-BEING FOR ALL. GLOBAL'S INTERDISCIPLINARY TEAM OF EXPERTS PROVIDES THOUGHT LEADERSHIP, CUTTING-EDGE RESEARCH, AND INNOVATIVE SOLUTIONS THAT INFORM POLICY AND INTERNATIONAL COOPERATION IN THEMATIC AREAS INCLUDING HARNESSING TECHNOLOGY FOR INCLUSIVE GROWTH AND DEVELOPMENT; DEVELOPMENT FINANCE; FORECASTING TRENDS; GLOBAL EDUCATION AND SKILLS DEVELOPMENT; AND MULTILATERALISM AND INTERNATIONAL COOPERATION. 15327380 414016 345555 FOREIGN POLICY:THE FOREIGN POLICY PROGRAM CONDUCTS RESEARCH, ANALYSIS AND CONVENING IN ORDER TO INFORM PUBLIC UNDERSTANDING AND POLICY DIALOGUE CONCERNING THE MOST PRESSING GEOPOLITICAL AND SECURITY ISSUES FACING THE U.S. AND THE WORLD. IN ADDITION TO THE PROGRAM REGULARLY HOSTING EVENTS, FOREIGN POLICY SCHOLARS HAVE PUBLISHED A NUMBER OF REPORTS AND BOOKS WHILE ALSO MAKING APPEARANCES ON THE PAGES AND AIRWAVES OF MAJOR NEWS AND POLICY OUTLETS ACROSS THE POLITICAL SPECTRUM IN THE U.S. AND AROUND THE GLOBE. 14030305 328109 0 GOVERNANCE STUDIES:THE GOVERNANCE STUDIES PROGRAM AT BROOKINGS IS DEDICATED TO ANALYZING POLICY ISSUES, POLITICAL INSTITUTIONS AND PROCESSES, AND CONTEMPORARY GOVERNANCE CHALLENGES. OUR SCHOLARSHIP IDENTIFIES AREAS IN NEED OF REFORM AND PROPOSES SPECIFIC SOLUTIONS WITH THE GOALS OF IMPROVING THE PERFORMANCE OF THE NATIONAL GOVERNMENT, INFORMING DEBATE, AND PROVIDING STAKEHOLDERS WITH EXPERT ANALYSIS AND IDEAS TO ENSURE BETTER INSTITUTIONAL GOVERNANCE. GOVERNANCE STUDIES EXPERTS FOCUS ON AREAS RANGING FROM ELECTION PROCESSES, TO PRIVACY AND ARTIFICIAL INTELLIGENCE, TO THE LEGISLATIVE PROCESS, TO GLOBAL ANTI-CORRUPTION EFFORTS. IN ADDITION TO PUBLISHING MYRIAD WORKS OF WRITTEN SCHOLARSHIP, GOVERNANCE STUDIES HELD A NUMBER OF EVENTS OPEN TO THE PUBLIC ON THESE AND OTHER TIMELY TOPICS. 12720822 794661 371084 BROOKINGS METRO:THE BROOKINGS METRO PROGRAM WORKS WITH LOCAL LEADERS TO TRANSFORM ORIGINAL RESEARCH INSIGHTS INTO POLICY AND PRACTICAL SOLUTIONS THAT SCALE NATIONALLY IN SUPPORT OF EVERY COMMUNITY BECOMING PROSPEROUS, JUST, AND RESILIENT - NO MATTER ITS STARTING POINT. THE PROGRAM PRODUCES A NUMBER OF DIFFERENT TYPES OF PUBLICATIONS, INCLUDING BLOG POSTS, RESEARCH BRIEFS, REPORTS, BOOKS AND INTERACTIVE DATA VISUALIZATIONS, AND HOST A NUMBER OF PUBLIC EVENTS. THROUGH ROUNDTABLES, MEETINGS, PUBLIC FORUMS, CONFERENCES, WORKSHOPS, LABS AND COMMUNITIES OF PRACTICE, THE PROGRAM ALSO CONTINUED TO WORK WITH NETWORKS OF EXPERTS FROM DIFFERENT SECTORS TO TRANSLATE EVIDENCE AND IDEAS INTO TANGIBLE SOLUTIONS THAT ADDRESS THE UNPRECEDENTED CHALLENGES FACING THE NATION, STATES AND CITIES ALIKE. 2885741 0 0 COMMUNICATIONS AND PUBLIC AFFAIRS: BROOKINGS' COMMUNICATIONS AND PUBLIC AFFAIRS DEPARTMENT DISSEMINATES INFORMATION ABOUT THE INSTITUTION, ITS SCHOLARS AND RESEARCH, AND THE ARRAY OF RESOURCES THAT BROOKINGS OFFERS. THE COMMUNICATIONS AND PUBLIC AFFAIRS DEPARTMENT MANAGES BROOKINGS' PRIMARY AVENUES FOR DISTRIBUTING ITS WORK, SUCH AS THE INSTITUTION'S WEBSITE (WWW.BROOKINGS.EDU), SOCIAL MEDIA CHANNELS, OTHER DIGITAL COMPONENTS OF OUTREACH AND EDUCATION, AS WELL AS HOUSING THE BROOKINGS INSTITUTION PRESS. GOVERNMENT AFFAIRS IS ALSO PART OF THE DEPARTMENT, CHARGED WITH FACILITATING SCHOLAR ENGAGEMENT WITH POLICYMAKERS AT THE FEDERAL, STATE, AND LOCAL LEVELS. 1600072 0 531040 INSTITUTIONAL INITIATIVES:INCLUDES RESEARCH INITIATIVES UNDERTAKEN OR SUPERVISED BY THE EXECUTIVE OFFICE AND CROSS-PROGRAM RESEARCH EFFORTS, SUCH AS THE ARTIFICIAL INTELLIGENCE AND EMERGING TECHNOLOGY INITIATIVE.THE ARTIFICIAL INTELLIGENCE AND EMERGING TECHNOLOGY (AIET) INITIATIVE INCLUDES SEVERAL WORKSTREAMS EACH DESIGNED TO TRACK AND INFORM PRESSING QUESTIONS AT THE INTERSECTION OF TECHNOLOGY AND POLICY IN NEAR REAL-TIME. 251200 0 436503 BROOKINGS PRESS:THE BROOKINGS INSTITUTION PRESS PUBLISHES LONGFORM PUBLIC POLICY RESEARCH AND ANALYSIS FROM BROOKINGS SCHOLARS AND OTHER EXPERTS. THE BROOKINGS INSTITUTION PRESS PUBLISHES BOOKS ON GOVERNANCE, POLITICAL SCIENCE, ECONOMICS, FOREIGN POLICY AND OTHER FIELDS THAT ARE WIDELY DISCUSSED IN THE MEDIA, ASSIGNED IN CLASSROOMS, REFERRED TO IN LIBRARIES, AND PICKED UP IN BOOKSTORES-BOOKS THAT INFORM WITH CLARITY AND PERSUADE WITH CONVICTION. 31488140 1122770 1338627 89429783 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 0 1 1 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 0 0 0 1 450 0 1 603 1 1 1 0 0 0 0 0 0 0 0 0 1 0 X 49 49 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AK AL AR CA FL GA HI IL KS KY MA MD MI MS MN NC NJ NH NM NY OK OR PA RI SC TN UT VA WI WV ND X X MEENA HANIFI 2027976000 1775 MASSACHUSETTS AVE NW WASHINGTON DC 20036 CECILIA ROUSE PRESIDENT 40.00 X 1327657 0 42574 JONATHAN D SCHWARTZ GENERAL COUNSEL 40.00 X 660245 0 91441 MITCHELL L WEIN SR VP OF FINANCE & COO 40.00 X 550595 0 59606 WILLIAM GALE SENIOR FELLOW 40.00 X 520695 0 82314 AMY LIU SR FELLOW & PRES. ADV. (THRU 6/25) 40.00 X 515116 0 54425 CATHERINE A PIEZ CHIEF INVESTMENT OFFICER 40.00 X 447871 0 100258 BEN HARRIS VP & DIR, ECONOMIC STUDIES 40.00 X 413203 0 110412 XAVIER BRIGGS SENIOR FELLOW 40.00 X 369582 0 97505 SUZANNE MALONEY VP & DIR., FOREIGN POLICY 40.00 X 363714 0 102553 BRAHIMA COULIBALY VP & DIRECTOR, GLOBAL 40.00 X 367346 0 96064 DARRELL M WEST SR FELLOW & DIR, DILLON 40.00 X 364436 0 92914 CAMILLE BUSETTE VP & DIR, GS (THRU 8/25) 40.00 X 341894 0 85067 ANKUR R BHATT VP & CIO 40.00 X 343350 0 83123 WENDY EDELBERG SENIOR FELLOW 40.00 X 322210 0 102414 DAVID WESSEL SR FELLOW & DIR, HUTCHINS 40.00 X 327768 0 92420 ELISABETH DONAHUE VP OF COMM. & PA 40.00 X 315043 0 92758 RICHARD G FRANK SR. FELLOW & DIR, HEALTH POLICY 40.00 X 338742 0 42844 JOE ROONEY VP & CHIEF OF STAFF 40.00 X 266147 0 102777 TAMARA L O'NEIL VP, CHIEF DEVEL. OFFICER (THRU 7/24) 40.00 X 308001 0 54981 ALAN BERUBE SENIOR FELLOW (THRU 9/24) 40.00 X 277556 0 32546 APRIL MCWILLIAMS VP & CHIEF HR OFFICER (THRU 7/24) 40.00 X 192367 0 41235 ROBERT PUENTES VP & DIR, BROOKINGS METRO 40.00 X 185188 0 47230 ELIZABETH GROSS DIR BOARD RLTNS, ASSTNT SE 40.00 X 127162 0 37785 GLENN H HUTCHINS CO-CHAIR OF THE BOARD 4.00 X X 0 0 0 SUZANNE NORA JOHNSON CO-CHAIR OF THE BOARD 4.00 X X 0 0 0 LEONARD D SCHAEFFER VICE CHAIR OF BOARD 3.00 X X 0 0 0 PETE HIGGINS VICE CHAIR OF BOARD 3.00 X X 0 0 0 KENNETH M JACOBS VICE CHAIR OF BOARD 3.00 X X 0 0 0 VICTOR L HYMES TREASURER 3.00 X X 0 0 0 TRACY R WOLSTENCROFT SECRETARY 3.00 X X 0 0 0 ROBERT J ABERNETHY TRUSTEE 3.00 X 0 0 0 JEFFREY H ARONSON TRUSTEE (AS OF 11/24) 2.00 X 0 0 0 PETER BARRIS TRUSTEE 2.00 X 0 0 0 ROBERT M BASS TRUSTEE 2.00 X 0 0 0 SETH BERNSTEIN TRUSTEE 2.00 X 0 0 0 JEFFREY L BEWKES TRUSTEE 2.00 X 0 0 0 DAVID BOZEMAN TRUSTEE 2.00 X 0 0 0 BETSY Z COHEN TRUSTEE 2.00 X 0 0 0 ABBY JOSEPH COHEN TRUSTEE 3.00 X 0 0 0 JONATHAN COLBY TRUSTEE 2.00 X 0 0 0 CHERYL CRAZY BULL TRUSTEE 2.00 X 0 0 0 SUSAN CROWN TRUSTEE 2.00 X 0 0 0 JASON CUMMINS TRUSTEE 2.00 X 0 0 0 VICTOR G DODIG TRUSTEE (AS OF 11/24) 2.00 X 0 0 0 KATHERINE FARLEY TRUSTEE 2.00 X 0 0 0 LAWTON FITT TRUSTEE 2.00 X 0 0 0 ADAM FLATTO TRUSTEE (AS OF 05/25) 2.00 X 0 0 0 BART FRIEDMAN TRUSTEE 3.00 X 0 0 0 ELLEN V FUTTER TRUSTEE 3.00 X 0 0 0 HELENE GAYLE TRUSTEE 2.00 X 0 0 0 DAVID J GRAIN TRUSTEE 2.00 X 0 0 0 MICHAEL D HANKIN TRUSTEE (AS OF 03/25) 2.00 X 0 0 0 TOM KAPLAN TRUSTEE 2.00 X 0 0 0 LAURA KARET TRUSTEE 2.00 X 0 0 0 HOSEIN KHAJEH-HOSSEINY TRUSTEE 2.00 X 0 0 0 PHILIP M KNIGHT TRUSTEE (THRU 05/25) 2.00 X 0 0 0 CATHY MINEHAN TRUSTEE 3.00 X 0 0 0 ADITYA MITTAL TRUSTEE (THRU 11/24) 2.00 X 0 0 0 BETH MOONEY TRUSTEE 2.00 X 0 0 0 OSCAR MUNOZ TRUSTEE 2.00 X 0 0 0 LAXMAN NARASIMHAN TRUSTEE 2.00 X 0 0 0 ASUTOSH PADHI TRUSTEE (AS OF 11/24) 2.00 X 0 0 0 VASANT PRABHU TRUSTEE 2.00 X 0 0 0 BRIAN ROGERS TRUSTEE (THRU 05/25) 3.00 X 0 0 0 GINNI ROMETTY TRUSTEE 2.00 X 0 0 0 TIMOTHY F RYAN TRUSTEE (THRU 05/25) 2.00 X 0 0 0 ALAN SCHWARTZ TRUSTEE 2.00 X 0 0 0 ERIC SCHWARTZ TRUSTEE 2.00 X 0 0 0 JAMES SMITH TRUSTEE 2.00 X 0 0 0 KEVIN SNEADER TRUSTEE 2.00 X 0 0 0 DOUGLAS STEENLAND TRUSTEE 2.00 X 0 0 0 JOE R STRAUS III TRUSTEE 2.00 X 0 0 0 LEE J STYSLINGER III TRUSTEE 2.00 X 0 0 0 ANDREW TISCH TRUSTEE 2.00 X 0 0 0 E ERIC TOKAT TRUSTEE 2.00 X 0 0 0 ANTOINE W VAN AGTMAEL TRUSTEE 2.00 X 0 0 0 9245888 0 1745246 197 0 1 0 ITI SYSTEMS 10850 HANNA ST STE G BELTSVILLE MD 20705 AV (VR/AR) IMPLEMENTATION 1081355 CAMBER COLLECTIVE 2505 2ND AVENUE SUITE 415 SEATTLE WA 98121 STRATEGY CONSULTANTS 806400 ORR GROUP INC 3000 K STREET NW E280 WASHINGTON DC 20007 NON-PROFIT CONSULTING 765000 CITY SECURITY CONSULTANTS INC 2010 KENDALL STREET NE WASHINGTON DC 20002 SECURITY SERVICES 758770 METZ CULINARY MANAGEMENT LLC TWO WOODLAND DRIVE DALLAS PA 18612 CULINARY SERVICES 623950 34 1307530 76855487 714817 78163017 RESEARCH 900099 1255606 1255606 1255606 7518054 2128188 5389866 119565 119565 90405083 131250 63480187 0 26924896 131250 27056146 131250 26924896 449839 132901 316938 316938 OTHER INCOME 900099 921773 921773 CAFETERIA REVENUE 722514 232058 232058 EMPLOYEE PARKING 812930 76544 76544 1230375 115659701 1692109 2259438 33545137 1375045 1375045 1222271 1222271 1925245 1925245 7555590 2703054 3968821 883715 53063748 48905263 382713 3775772 5026337 4279175 360814 386348 5490879 4674664 394160 422055 3862266 3288143 277251 296872 359699 17664 342035 298525 60000 238525 768094 768094 6776476 5593460 79762 1103254 13867 12428 40 1399 113985 102543 5766 5676 3932936 3768028 7139 157769 4063716 2836511 982532 244673 2327163 2025224 57141 244798 2159363 1680300 81799 397264 671465 671465 2165645 1734779 307956 122910 531923 371287 128609 32027 OTHER DIRECT COSTS 2471090 1867880 372108 231102 TEMPORARY HELP 1098408 577160 521248 PUBLISHING 444271 409659 1785 32827 BOND COST AMORTIZATION 16500 16500 107734507 89429783 9966263 8338461 50153685 50694559 26950578 24949875 2395024 1682127 7768 16393 1537272 1642627 71177551 43588916 28165231 27588635 146408853 240889000 291537021 221568245 3836723 2766463 550992155 571797924 11058600 12739855 5853822 5147994 41395057 40553741 4844663 3446531 63152142 61888121 X 257072480 273189585 230767533 236720218 487840013 509909803 550992155 571797924 X 7925194 14009596 135000 X 0 1 X 1 1 1 X 47454001 70762210 73243242 70308087 78163017 339930557 47454001 70762210 73243242 70308087 78163017 339930557 32146851 307783706 2345253 3373405 4244647 5782085 7649304 23394694 15213 15213 75838 56414 140857 964300 1230375 2467784 365808248 4235119 0.84140 0.87480 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: CAFETERIA - 2023 AMOUNT: $ 13,918. 2024 AMOUNT: $ 232,058. OTHER INCOME - 2020 AMOUNT: $ 75,838. 2021 AMOUNT: $ 56,414. 2022 AMOUNT: $ 140,857. 2023 AMOUNT: $ 873,997. 2024 AMOUNT: $ 921,773. EMPLOYEE PARKING - 2023 AMOUNT: $ 76,385. 2024 AMOUNT: $ 76,544. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 268418 X 0 449140016 15561 48064967 28282702 2300705 466637137 429544660 3474896 41030197 23009165 1900572 449140016 384593753 43071764 27901157 24358899 1663115 429544660 428429220 5427043 -26119655 21628149 1514706 384593753 341759774 181240 106955864 18892759 1574899 428429220 0.65078 0.22724 0.12198 0 0 4155620 4155620 48729920 32059722 16670198 593780 566757 27023 15981043 10962437 5018606 1717188 1717188 27588635 ALTERNATIVE INVESTMENTS 221568245 F 221568245 ACCRUED POST-RETIREMENT BENEFIT OBLIGATION 468000 DEFERRED COMPENSATION 1168953 RIGHT-OF-USE LEASE 1809578 3446531 X 127125133 14009596 -2091550 11918046 115207087 465950 -13336 452614 115659701 105190343 13336 13336 105177007 465950 2091550 2557500 107734507 PART III, LINE 4: BROOKINGS PHOTOGRAPHY COLLECTION WAS DONATED TO ENHANCE THE FACILITIES WHERE BROOKINGS SCHOLARS WORK AND CONVENE PUBLIC POLICY AND EDUCATIONAL EVENTS. THE COLLECTION CONTRIBUTES TO AN ATMOSPHERE THAT PROMOTES ENGAGEMENT WITH STAKEHOLDERS THROUGH CONVERSATION AND INTERACTION. PART V, LINE 4: BROOKINGS CAREFULLY BALANCES ITS FUNDING TO RESPOND TO CURRENT POLICY ISSUES AS WELL AS UNDERTAKE LONG-TERM RESEARCH PROJECTS. AS NEW CHALLENGES EMERGE, THE ENDOWMENT IS USED TO MAKE NEW RESEARCH PROJECTS POSSIBLE, SUPPORTING CORE ADMINISTRATIVE COSTS, AS WELL AS SCHOLAR-DRIVEN RESEARCH. PART X, LINE 2: BROOKINGS FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. BROOKINGS IS EXEMPT FROM FEDERAL INCOME TAX UNDER INTERNAL REVENUE CODE (IRC) SECTION 501(C)(3), THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE IRC. BROOKINGS HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED INCOME; TO DETERMINE ITS FILING AND TAX OBLIGATIONS IN JURISDICTIONS FOR WHICH IT HAS NEXUS; AND TO IDENTIFY AND EVALUATE OTHER MATTERS THAT MAY BE CONSIDERED TAX POSITIONS. BROOKINGS HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: OTHER EXPENSES RECLASSED TO FUNCTIONAL EXPENSES -2,091,550. PART XI, LINE 4B - OTHER ADJUSTMENTS: COST OF GOODS SOLD -132,901. ROYALTY INCOME 119,565. PART XII, LINE 2D - OTHER ADJUSTMENTS: COST OF GOODS SOLD 132,901. ROYALTY INCOME -119,565. PART XII, LINE 4B - OTHER ADJUSTMENTS: OTHER EXPENSES RECLASSED TO FUNCTIONAL EXPENSES 2,091,550. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 93519683 EAST ASIA AND THE PACIFIC 0 0 INVESTMENTS 10823353 EAST ASIA AND THE PACIFIC 0 0 PROGRAMMATIC ACTIVITIES PUBLIC POLICY RESEARCH 235248 EUROPE 0 0 PROGRAMMATIC ACTIVITIES PUBLIC POLICY RESEARCH 386723 EUROPE 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION 200000 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAMMATIC ACTIVITIES PUBLIC POLICY RESEARCH 23286 MIDDLE EAST AND NORTH AFRICA 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION 168000 NORTH AMERICA 0 0 PROGRAMMATIC ACTIVITIES PUBLIC POLICY RESEARCH 57026 NORTH AMERICA 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION 173500 SOUTH AMERICA 0 0 PROGRAMMATIC ACTIVITIES PUBLIC POLICY RESEARCH 84691 SOUTH AMERICA 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION 251995 SOUTH ASIA 0 0 PROGRAMMATIC ACTIVITIES PUBLIC POLICY RESEARCH 14129 SOUTH ASIA 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION 298500 SUB-SAHARAN AFRICA 0 0 PROGRAMMATIC ACTIVITIES PUBLIC POLICY RESEARCH 104503 SUB-SAHARAN AFRICA 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION 833250 0 0 0 0 0 0 105413319 1760568 107173887 NORTH AMERICA PROGRAM ACTIVITY 23000 WIRE/ACH 0 N/A N/A SUB-SAHARAN AFRICA PROGRAM ACTIVITY 125000 WIRE/ACH 0 N/A N/A SUB-SAHARAN AFRICA PROGRAM ACTIVITY 125000 WIRE/ACH 0 N/A N/A SOUTH ASIA PROGRAM ACTIVITY 148000 WIRE/ACH 0 N/A N/A SOUTH AMERICA PROGRAM ACTIVITY 125000 WIRE/ACH 0 N/A N/A SUB-SAHARAN AFRICA PROGRAM ACTIVITY 125000 WIRE/ACH 0 N/A N/A SUB-SAHARAN AFRICA PROGRAM ACTIVITY 125000 WIRE/ACH 0 N/A N/A SOUTH ASIA PROGRAM ACTIVITY 125000 WIRE/ACH 0 N/A N/A MIDDLE EAST AND NORTH AFRICA PROGRAM ACTIVITY 125000 WIRE/ACH 0 N/A N/A EUROPE PROGRAM ACTIVITY 200000 WIRE/ACH 0 N/A N/A NORTH AMERICA PROGRAM ACTIVITY 125000 WIRE/ACH 0 N/A N/A SOUTH AMERICA PROGRAM ACTIVITY 126995 WIRE/ACH 0 N/A N/A SUB-SAHARAN AFRICA PROGRAM ACTIVITY 28875 WIRE/ACH 0 N/A N/A SUB-SAHARAN AFRICA PROGRAM ACTIVITY 28875 WIRE/ACH 0 N/A N/A MIDDLE EAST AND NORTH AFRICA PROGRAM ACTIVITY 43000 WIRE/ACH 0 N/A N/A SUB-SAHARAN AFRICA PROGRAM ACTIVITY 250000 WIRE/ACH 0 N/A N/A 16 0 FELLOWSHIP STIPENDS SUB-SAHARAN AFRICA 1 25500 WIRE/ACH N/A N/A FELLOWSHIP STIPENDS SOUTH ASIA 1 25500 WIRE/ACH N/A N/A FELLOWSHIP STIPENDS NORTH AMERICA 1 25500 WIRE/ACH N/A N/A 1 0 1 1 1 0 PART I, LINE 2: THE BROOKINGS INSTITUTION MAINTAINS RECORDS OF HOW ITS FUNDS ARE USED AND VERIFIES THROUGH REGULAR REPORTS AND COMMUNICATIONS THAT GRANTS AND OTHER ASSISTANCE OUTSIDE THE UNITED STATES ARE USED IN A MANNER CONSISTENT WITH THE PURPOSE OF THE SUPPORT AS WELL AS BROOKINGS'S CHARITABLE MISSION. 1 AMERICAN UNIVERSITY 4400 MASSACHUSETTS AVENUE NW WASHINGTON DC 20016 530196549 501(C)(3) 54916 0 N/A N/A RESEARCH COLLABORATION CINCINNATI USA REGIONAL CHAMBER 3 EAST FOURTH STREET SUITE 200 CINCINNATI OH 45202 310239310 501(C)(3) 43334 0 N/A N/A RESEARCH COLLABORATION CITIES GPS LLC 6109 29TH ST NW WASHINGTON DC 20015 177607014 200000 0 N/A N/A RESEARCH COLLABORATION CIVIC COUNCIL OF GREATER KANSAS CITY 2300 MAIN STREET SUITE 915 KANSAS CITY MO 64108 420822397 501(C)(3) 43334 0 N/A N/A RESEARCH COLLABORATION GALLUP INC 901 F ST NW STE 400 WASHINGTON DC 20004 210699771 59000 0 N/A N/A RESEARCH COLLABORATION GREATER AKRON CHAMBER 388 S MAIN ST UNIT 205 AKRON OH 44311 341156576 501(C)(3) 43334 0 N/A N/A RESEARCH COLLABORATION GREATER RICHMOND CHAMBER OF COMMERCE PO BOX 1598 RICHMOND VA 23218 540356742 501(C)(6) 43334 0 N/A N/A RESEARCH COLLABORATION GREATER ST LOUIS INC FOUNDATION 211 N BROADWAY SUITE 1300 ST LOUIS MO 63102 431478096 501(C)(3) 43334 0 N/A N/A RESEARCH COLLABORATION NATIONAL CORPORATE HOUSING INC 8400 EAST CRESCENT PKWY STE 300 GREENWOOD VILLAGE CO 80111 541952304 95228 0 N/A N/A RESEARCH COLLABORATION PROSPER FOUNDATION 1721 THIRD AVENUE N SUITE 202 BIRMINGHAM AL 35203 871572206 43334 0 N/A N/A RESEARCH COLLABORATION RM DONAHUE CONSULTING 1723 N OAKES ST TACOMA WA 98406 201001796 116925 0 N/A N/A RESEARCH COLLABORATION ROWAN UNIVERSITY 201 MULLICA HILL RD GLASSBORO NJ 08028 222764819 501(C)(3) 73105 0 N/A N/A RESEARCH COLLABORATION THE URBAN INSTITUTE 500 LENFANT PLZ SW WASHINGTON DC 20024 520880375 501(C)(3) 113213 0 N/A N/A RESEARCH COLLABORATION URBAN LEAGUE OF LOUISIANA 500 LENFANT PLZ SW WASHINGTON DC 20024 520880375 501(C)(3) 43334 0 N/A N/A RESEARCH COLLABORATION WASHINGTON UNIVERSITY IN ST LOUIS PO BOX 60714 ST LOUIS MO 63160 430653611 501(C)(3) 61422 0 N/A N/A RESEARCH COLLABORATION NEW YORK UNIVERSITY 50 WEST 4TH STREET NEW YORK NY 10012 135562308 501(C)(3) 30000 0 N/A N/A RESEARCH COLLABORATION PRESIDENT AND FELLOWS OF HARVARD COLLEGE 1033 MASSACHUSETTS AVENUE 3RD FL CAMBRIDGE MA 02138 042103580 501(C)(3) 25000 0 N/A N/A RESEARCH COLLABORATION INTERNATIONAL FOOD POLICY RESEARCH INSTITUTE 1201 EYE STREET NW FLOOR 12 WASHINGTON DC 20005 521041632 501(C)(3) 72500 0 N/A N/A RESEARCH COLLABORATION LINCOLN INSTITUTE OF LAND POLICY 113 BRATTLE STREET CAMBRIDGE MA 02138 866021106 501(C)(3) 56400 0 N/A N/A RESEARCH COLLABORATION THE HOWARD UNIVERSITY 2244 10TH STREET ROOM 302 WASHINGTON DC 20059 530204707 501(C)(3) 55000 0 N/A N/A RESEARCH COLLABORATION WHITEHEAD ADVISORY SERVICES LLC 2833 COURTLAND BOULEVARD SHAKER HEIGHTS OH 44122 260574708 58998 0 N/A N/A RESEARCH COLLABORATION 14 7 FELLOWSHIP STIPENDS 15 1222270 N/A N/A PART I, LINE 2: BROOKINGS DOES NOT GENERALLY ISSUE GRANTS TO OTHER ORGANIZATIONS, BUT AS A GRANT RECIPIENT, OCCASIONALLY ISSUES SUBGRANTS TO COLLABORATING INSTITUTIONS. SUBGRANTS ARE ISSUED PURSUANT TO WRITTEN AGREEMENTS SPECIFYING THE CHARITABLE PURPOSES FOR WHICH THE SUBGRANT IS MADE AND REQUIRING REGULAR REPORTING AND OTHER COMPLIANCE COVENANTS ON THE PART OF THE RECIPIENT. BROOKINGS ALSO ISSUES FELLOWSHIP STIPENDS AND/OR HONORARIA TO INDIVIDUALS, WHOSE WORK IS SUPERVISED BY A BROOKINGS COUNTERPART. THESE DISBURSEMENTS ARE ISSUED AND MONITORED THROUGH STANDARD FINANCIAL MANAGEMENT PROCESSES AND THE CORRESPONDING BROOKINGS ACTIVITIES ARE SUPERVISED BY BROOKINGS SCHOLARS. X 1 1 X X X X X 1 1 0 0 0 0 0 1 0 CECILIA ROUSE PRESIDENT 977657 0 350000 0 0 0 41400 0 1174 0 1370231 0 0 0 JONATHAN D SCHWARTZ GENERAL COUNSEL 628745 0 31500 0 0 0 29484 0 61957 0 751686 0 0 0 MITCHELL L WEIN SR VP OF FINANCE & COO 526745 0 23850 0 0 0 33824 0 25782 0 610201 0 0 0 WILLIAM GALE SENIOR FELLOW 496045 0 24650 0 0 0 59759 0 22555 0 603009 0 0 0 AMY LIU SR FELLOW & PRES. ADV. (THRU 6/25) 443866 0 71250 0 0 0 53223 0 1202 0 569541 0 0 0 CATHERINE A PIEZ CHIEF INVESTMENT OFFICER 426621 0 21250 0 0 0 52100 0 48158 0 548129 0 0 0 BEN HARRIS VP & DIR, ECONOMIC STUDIES 393203 0 20000 0 0 0 48775 0 61637 0 523615 0 0 0 XAVIER BRIGGS SENIOR FELLOW 369582 0 0 0 0 0 45314 0 52191 0 467087 0 0 0 SUZANNE MALONEY VP & DIR., FOREIGN POLICY 349860 0 13854 0 0 0 43413 0 59140 0 466267 0 0 0 BRAHIMA COULIBALY VP & DIRECTOR, GLOBAL 350246 0 17100 0 0 0 43130 0 52934 0 463410 0 0 0 DARRELL M WEST SR FELLOW & DIR, DILLON 364436 0 0 0 0 0 44600 0 48314 0 457350 0 0 0 CAMILLE BUSETTE VP & DIR, GS (THRU 8/25) 319555 0 22339 0 0 0 39513 0 45554 0 426961 0 0 0 ANKUR R BHATT VP & CIO 326707 0 16643 0 0 0 40326 0 42797 0 426473 0 0 0 WENDY EDELBERG SENIOR FELLOW 318210 0 4000 0 0 0 39870 0 62544 0 424624 0 0 0 DAVID WESSEL SR FELLOW & DIR, HUTCHINS 323768 0 4000 0 0 0 40341 0 52079 0 420188 0 0 0 ELISABETH DONAHUE VP OF COMM. & PA 285043 0 30000 0 0 0 34883 0 57875 0 407801 0 0 0 RICHARD G FRANK SR. FELLOW & DIR, HEALTH POLICY 338742 0 0 0 0 0 40680 0 2164 0 381586 0 0 0 JOE ROONEY VP & CHIEF OF STAFF 245522 0 20625 0 0 0 32078 0 70699 0 368924 0 0 0 TAMARA L O'NEIL VP, CHIEF DEVEL. OFFICER (THRU 7/24) 219278 0 12780 0 75943 0 20495 0 34486 0 362982 0 0 0 ALAN BERUBE SENIOR FELLOW (THRU 9/24) 261314 0 16242 0 0 0 29530 0 3016 0 310102 0 0 0 APRIL MCWILLIAMS VP & CHIEF HR OFFICER (THRU 7/24) 177977 0 14390 0 0 0 19492 0 21743 0 233602 0 0 0 ROBERT PUENTES VP & DIR, BROOKINGS METRO 185188 0 0 0 0 0 20900 0 26330 0 232418 0 0 0 ELIZABETH GROSS DIR BOARD RLTNS, ASSTNT SE 124162 0 3000 0 0 0 15576 0 22209 0 164947 0 0 0 PART I, LINE 1A THE INSTITUTION'S TRAVEL POLICY DOES NOT PERMIT FIRST CLASS TRAVEL, UNLESS AN EXCEPTION TO SUCH REQUIREMENT IS APPROVED BY THE CFO OR CONTROLLER. EXCEPTIONS APPROVING FIRST CLASS TRAVEL FOR PERSONS LISTED ON FORM 990, PART VII, SECTION A, LINE 1A WERE GRANTED IN RARE CIRCUMSTANCES DURING THE TAX YEAR. PART I, LINES 4A-B TAMARA O'NEIL, THE ORGANIZATION'S CHIEF DEVELOPMENT OFFICER, RECEIVED A PAYMENT OF $75,943. THE AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III) AS OTHER REPORTABLE COMPENSATION. CECILIA ROUSE, THE ORGANIZATION'S PRESIDENT, RECEIVED $5,200 IN PAYMENTS FROM A SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. THE PLAN IS INTENDED TO BE AN UNFUNDED "INELIGIBLE DEFERRED COMPENSATION PLAN" AS DESCRIBED IN 457(F) OF THE INTERNAL REVENUE CODE, AND ELIGIBLE FOR THE SHORT-TERM DEFERRAL EXCEPTION TO CODE 409A. PART I, LINE 7 AMOUNT PRESENTED IN SCHEDULE J, PART II, COLUMN B(II) REPRESENTS PERFORMANCE BONUSES. A DISTRICT OF COLUMBIA VARIABLE RATE REVENUE BONDS SERIES 2020 536001131 2020-05-21 44952570 MODIFICATION OF 2015 SERIES BOND 0 0 0 A 4152704 44952570 330000 44622570 0 1 1 1 A 0 0 0 0 0 0 1 A 0 1 0 0 1 0 0 0 1 A 1 X 8 714817 FMV 0 0 1 0 PART I, COLUMN (B): THIS FIGURE REFLECTS THE NUMBER OF CONTRIBUTIONS. FORM 990, PART VI, SECTION A, LINE 1A THE BOARD, BY VOTE OF A MAJORITY OF THE NUMBER OF TRUSTEES THEN IN OFFICE, MAY CREATE ONE OR MORE COMMITTEES OF THE BOARD COMPRISED SOLELY OF ONE OR MORE TRUSTEES. THE BOARD MAY DELEGATE TO A COMMITTEE OF THE BOARD ANY OF THE POWERS OF THE BOARD, EXCEPT THE POWERS TO: (1) ELECT OR REMOVE TRUSTEES, (2) ELECT MEMBERS OF COMMITTEES OF THE BOARD, (3) APPROVE THE DISSOLUTION, MERGER, OR REORGANIZATION OF THE CORPORATION OR DISTRIBUTION OF ITS ASSETS, (4) AMEND THE ARTICLES OF RESTATEMENT OR THESE BYLAWS, (5) SELL THE CORPORATION'S BUILDINGS, OR (6) DECIDE SUCH OTHER MATTERS AS THE BOARD MAY DETERMINE MAY NOT BE DELEGATED TO A COMMITTEE OF THE BOARD. COMMITTEES OF THE BOARD INCLUDE THE EXECUTIVE COMMITTEE, INVESTMENT COMMITTEE, AUDIT COMMITTEE, AND COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION A, LINE 2 - BROOKINGS TRUSTEES SUZANNE NORA JOHNSON AND ELLEN FUTTER - BUSINESS RELATIONSHIP (MARKLE FOUNDATION). - BROOKINGS TRUSTEES GLENN HUTCHINS AND BETH MOONEY - BUSINESS RELATIONSHIP (AT&T BOARD). - BROOKINGS TRUSTEES SUZANNE NORA JOHNSON AND JAMES SMITH - BUSINESS RELATIONSHIP (PFIZER BOARD). - BROOKINGS TRUSTEES SUZANNE NORA JOHNSON AND VASANT PRABHU - BUSINESS RELATIONSHIP (INTUIT BOARD). FORM 990, PART VI, SECTION B, LINE 11B THE BROOKINGS INSTITUTION AUDIT COMMITTEE REVIEWS AND APPROVES THE FORM 990 AND FORM 990-T EACH YEAR. AFTER THIS APPROVAL, THE FULL BOARD OF TRUSTEES RECEIVES THE COMPLETE FORMS AND IS GIVEN THE OPPORTUNITY TO REVIEW THEM, ASK QUESTIONS, AND SUGGEST ANY CHANGES BEFORE THE FILINGS ARE SUBMITTED TO THE IRS. FORM 990, PART VI, SECTION B, LINE 12C EACH YEAR, BROOKINGS PERSONNEL ARE REQUIRED TO COMPLETE A DISCLOSURE AND ACKNOWLEDGMENT FORM RELATED TO THE INSTITUTION'S CONFLICT OF INTEREST POLICY. SPECIFICALLY, ALL EMPLOYEES AND RESIDENT AFFILIATES ARE REQUIRED TO: - ACKNOWLEDGE THAT THEY HAVE READ, UNDERSTOOD, AND ARE COMMITTED TO ABIDING BY THE INSTITUTION'S CONFLICT OF INTEREST POLICY AS WELL AS CERTAIN OTHER INSTITUTIONAL POLICIES; AND - MAKE CERTAIN DISCLOSURES ABOUT THEIR OUTSIDE ACTIVITIES AND FINANCES TO HELP IDENTIFY POTENTIAL CONFLICTS OF INTEREST. FORMS ARE SUBMITTED TO THE OFFICE OF THE GENERAL COUNSEL, WHICH REVIEWS THEM AND HAS DISCRETION TO MAKE RECOMMENDATIONS OR RAISE CONCERNS WITH RELEVANT INDIVIDUALS AS APPROPRIATE. THE BOARD OF TRUSTEES IS REQUIRED TO COMPLETE AN ANNUAL QUESTIONNAIRE AND AFFIRMATION THAT: - CONFIRMS THEIR RECEIPT, UNDERSTANDING, AND COMPLIANCE WITH THE INSTITUTION'S CONFLICT OF INTEREST POLICIES THAT RELATE TO BOARD MEMBERS AS WELL AS OTHER INSTITUTIONAL POLICIES; AND - DISCLOSES RELEVANT INFORMATION ABOUT THEIR FAMILY AND BUSINESS RELATIONSHIPS, TRANSACTIONS AND LOANS, AND OTHER RELEVANT RELATIONSHIPS WITH BROOKINGS. ISSUES INVOLVING CONFLICTS OF INTEREST ARE ORDINARILY RESOLVED BY THE GENERAL COUNSEL OR HIS/HER DESIGNEES, IN CONSULTATION WITH OTHER MEMBERS OF SENIOR MANAGEMENT, AS APPROPRIATE. POTENTIAL CONFLICTS OF INTEREST INVOLVING TRUSTEES ARE GENERALLY REFERRED TO THE BOARD CO-CHAIRS AND THE APPROPRIATE COMMITTEE LEADERSHIP (INCLUDING THE AUDIT COMMITTEE), ACCORDING TO APPLICABLE POLICIES. THE GENERAL COUNSEL REGULARLY CONFERS WITH THE CHAIR OF THE AUDIT COMMITTEE REGARDING THE INSTITUTION'S CONFLICT OF INTEREST POLICIES. FORM 990, PART VI, SECTION B, LINE 15 THE INSTITUTION'S BYLAWS PROVIDE FOR A COMPENSATION COMMITTEE CONSISTING OF THE BOARD CHAIR (OR CO-CHAIRS), THE BOARD VICE CHAIR(S) AND NO FEWER THAN 3 OTHER TRUSTEES. THE COMPENSATION COMMITTEE HAS THE AUTHORITY TO SET THE SALARY OF THE PRESIDENT, THE CHIEF FINANCIAL OFFICER AND ANY OTHER EMPLOYEES THEY DEEM APPROPRIATE. IN SETTING THOSE SALARIES, THE COMMITTEE REVIEWS RELEVANT SALARY COMPARABILITY DATA AND SUBSEQUENTLY DOCUMENTS THE COMMITTEE'S DECISIONS AND RATIONALE UNDERLYING SUCH DECISIONS. THE COMMITTEE REGULARLY USES AN OUTSIDE CONSULTANT TO ESTABLISH SALARY COMPARABLES AND TO DETERMINE THE REASONABLENESS OF THE COMPENSATION RECEIVED BY ALL DISQUALIFIED PERSONS. THIS PROCESS WAS LAST COMPLETED IN 2025. FORM 990, PART VI, SECTION C, LINE 19 BROOKINGS MAKES THE RELEVANT DOCUMENTS AVAILABLE TO THE PUBLIC AS FOLLOWS: - BROOKINGS'S CONFLICT OF INTEREST POLICY, AS WELL AS SUMMARIES OF OTHER KEY POLICIES ARE AVAILABLE ON ITS WEBSITE; AND - BROOKINGS'S AUDITED FINANCIAL STATEMENTS AND FORM 990 ARE ALSO AVAILABLE ON ITS WEBSITE. FORM 990, PART XI, LINE 9: EFFECT OF ADOPTION PROVISIONS SFAS NO. 158 135,000. BROOKINGS INDIA 1568 CHURCH ROAD KASHMERE GATE NEW DELHI IN 110006 INACTIVE IN THE BROOKINGS INSTITUTION C 0.99990 1 BI INDIA INITIATIVE US 1775 MASSACHUSETTS AVE NW WASHINGTON DC 20036 INACTIVE DC THE BROOKINGS INSTITUTION C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SCHEDULE R, PART IV BI INDIA INITIATIVE US (BIIIUS) AND BROOKINGS INDIA ARE LISTED ON SCHEDULE R, PART IV. BIIIUS WAS CREATED SOLELY TO HOLD ONE SHARE OF BROOKINGS INDIA, A DORMANT INDIAN ENTITY THAT WAS CREATED BUT NEVER ACTIVE. NEITHER BIIIUS NOR BROOKINGS INDIA HAVE OR EVER HAVE HAD ANY INCOME, ASSETS, EXPENSES OR OPERATIONS. BROOKINGS HAS BEEN IN THE PROCESS OF DISSOLVING BROOKINGS INDIA UNDER RELEVANT FOREIGN LAW AND BIIIUS WILL BE DISSOLVED AS SOON AS POSSIBLE ONCE THE DISSOLUTION OF THE INACTIVE BROOKINGS INDIA ENTITY IS FINAL.