2023-06-26T08:14:51-05:00 2022-12-31 521392008 GELMAN ROSENBERG & FREEDMAN 4550 MONTGOMERY AVE SUITE 800N BETHESDA MD 208142930 990 2022-01-01 462695042 BUSARA CENTER FOR BEHAVIORAL ECONOMICS INC BUSA 3107803560 28 SPRING ST 193 PRINCETON NJ 08542 CHANING JANG CHIEF EXECUTIVE OFFICER 3107803560 2023-06-26 1 CHANING JANG XXX-XX-XXXX 0 RICHARD J LOCASTRO CPA P00288314 3019519090 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z X CHANING JANG 28 SPRING ST 193 PRINCETON NJ 08542 10244235 0 X WWW.BUSARACENTER.ORG X 2013 MA SEE PART III, LINE 1. 8 6 3 6 0 0 3916434 5232947 5875490 4960854 -24048 22125 6736 28309 9774612 10244235 0 0 0 0 5162502 4842174 0 0 0 3119658 4510888 8282160 9353062 1492452 891173 7243052 9240998 3036494 4143267 4206558 5097731 BUSARA WORKS WITH RESEARCHERS AND ORGANIZATIONS TO ADVANCE AND APPLY BEHAVIORAL SCIENCE IN PURSUIT OF POVERTY ALLEVIATION. CURRENT STUDIES ARE CONDUCTED IN NAIROBI-KENYA, TRENTON-NEW JERSEY, LAGOS-NIGERIA, DELHI-INDIA, UGANDA AND TANZANIA. 0 0 7210496 4960854 WE HAD 121 ACTIVE PROJECTS RUNNING IN THE YEAR IN VARIOUS FIELDS AND APPLYING BEHAVIORAL SCIENCE. WORK INVOLVED CONDUCTING RESEARCH TO AID IN THE PREPARATION OF DATA FOR NUMEROUS PUBLICATIONS AND WORKING PAPERS AND ANALYZING OF EXISTING DATASETS FOR FURTHER EXPERIMENTATION AND DESIGN. 7210496 1 1 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 X 0 0 3 1 0 1 KE UG TZ NI IN 0 0 0 0 0 0 0 0 0 0 X 8 6 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 0 0 X CHANING JANG 3107803560 28 SPRING ST 193 PRINCETON NJ 08542 CHANING JANG CHIEF EXECUTIVE OFFICER 36.00 X X 140004 0 13553 JEREMY PLACE SHAPIRO PRESIDENT 1.00 X X 40833 0 0 JAMES HUGH VANCEL TREASURER 1.00 X X 0 0 0 CAROLINA AVILA TRIVELLI BOARD MEMBER 1.00 X 0 0 0 ANNE HILLBRAND HEALY BOARD MEMBER 1.00 X 0 0 0 BONNIE AWUOR OKUMU BOARD MEMBER 1.00 X 0 0 0 NIRA JETHANI BOARD MEMBER 1.00 X 0 0 0 JOHANNES ANDREAS HAUSHOFER BOARD MEMBER 1.00 X 0 0 0 KELLY ZHANG RESEARCH SCIENTIST 36.00 X 110004 0 5279 STEPHEN WENDEL VICE PRESIDENT IN PROJECTS 36.00 X 105150 0 15135 395991 0 33967 3 0 1 0 QUALIQUANT SERVICES LIMITED 6 PRINCE BODE OLUWO ST MENDE MARYL LAGOS NI SURVEY SERVICES 187929 1 5232947 5232947 CONSULTING FEES 900099 4952791 4952791 PROJECT REVENUE 900099 6000 6000 WORKSHOP FEES 900099 2063 2063 4960854 1233 1233 20892 0 20892 20892 20892 REFUNDS 900099 12827 12827 REIMBURSEMENT 900099 9917 9917 OTHER INCOME 900099 5565 5565 28309 10244235 4960854 0 50434 X 194390 4537 189853 4074518 3064540 1009978 40820 29440 11380 500345 370637 129708 32101 23152 8949 3766 3393 373 37616 37616 1049963 979955 70008 154049 79765 74284 257965 161917 96048 386469 347248 39221 56108 56108 41310 10507 30803 347372 199367 148005 SURVEY COSTS 1346338 1346338 FIELD GUIDES 474904 474711 193 DUES & SUBSCRIPTIONS 161793 27601 134192 INCOME TAX (SEE SCHD O) 51976 51976 141259 87388 53871 9353062 7210496 2142566 0 2051276 551405 3617192 7125588 3515 9750 1232121 885319 53842 50042 460553 408216 61296 52337 223810 566557 7243052 9240998 1605740 1799357 940831 788569 149718 149414 340205 1405927 3036494 4143267 X -187665 3019399 4394223 2078332 4206558 5097731 7243052 9240998 891173 0 X 0 1 X 1 0 X 587860 2645450 1404912 3916434 5232947 13787603 4489696 6871686 5429575 5875490 4960854 27627301 5077556 9517136 6834487 9791924 10193801 41414904 587860 1061800 1126378 2827274 3788520 9391832 1845053 2681993 2163138 27678 1479763 8197625 2432913 3743793 3289516 2854952 5268283 17589457 23825447 1704 7342 9726 13105 1233 33110 1704 7342 9726 13105 1233 33110 92246 95540 120705 6736 28309 343536 5171506 9620018 6964918 9811765 10223343 41791550 0.57010 0.57500 0.00080 0.00090 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 13338 9339 3999 447215 398877 48338 52337 DEFERRED TAX ASSET 111579 DEPOSITS 54442 RIGHT-OF-USE ASSETS 400536 566557 BANK OVERDRAFT 1004791 OPERATING LEASE 401136 1405927 X 10247167 2932 2932 10244235 0 10244235 9288165 2932 2932 9285233 67829 67829 9353062 PART X, LINE 2: FOR THE YEAR ENDED DECEMBER 31, 2022, THE BUSARA CENTER HAS DOCUMENTED ITS CONSIDERATION OF FASB ASC 740-10, INCOME TAXES, THAT PROVIDES GUIDANCE FOR REPORTING UNCERTAINTY IN INCOME TAXES AND HAS DETERMINED THAT NO MATERIAL UNCERTAIN TAX POSITIONS QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF ASSETS REPORTED AS AN EXPENSE ON THE 2,932. FINANCIAL STATEMENTS AND NETTED AGAINST REVENUE ON FORM 990, PART VIII, LINE 7B. PART XII, LINE 2D - OTHER ADJUSTMENTS: LOSS ON DISPOSAL OF ASSETS REPORTED AS AN EXPENSE ON THE 2,932. FINANCIAL STATEMENTS AND NETTED AGAINST REVENUE ON FORM 990, PART VIII, LINE 7B. PART XII, LINE 4B - OTHER ADJUSTMENTS: CURRENCY EXCHANGE LOSS REPORTED AS OTHER ITEM ON FINANCIAL 15,853. STATEMENTS AND REPORTED AS EXEPNSE ON FORM 990, PART IX. INCOME TAX EXPENSE REPORTED AS OTHER ITEM ON FINANCIAL 51,976. STATEMENTS AND REPORTED AS EXEPNSE ON FORM 990, PART IX. SUB-SAHARAN AFRICA 4 130 PROGRAM SERVICES ADVANCING VARIOUS ACADEMY DISCPLINES THAT ARE GEARED TOWARDS POVERTY ALLEVIATION. 3206087 SUB-SAHARAN AFRICA 0 0 GENERAL & ADMINISTRATIVE 1602078 SOUTH ASIA 1 12 PROGRAM SERVICES ADVANCING VARIOUS ACADEMY DISCPLINES THAT ARE GEARED TOWARDS POVERTY ALLEVIATION. 460584 SOUTH ASIA 0 0 GENERAL & ADMINISTRATIVE 47543 5 142 0 0 5 142 5316292 0 5316292 0 0 1 0 0 0 PART III ACCOUNTING METHOD: X X 0 0 0 0 0 0 0 0 0 CHANING JANG CHIEF EXECUTIVE OFFICER 140004 0 0 0 0 0 0 0 13553 0 153557 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY THE OUTSIDE ACCOUNTANTS AND CIRCULATED VIA EMAIL TO THE BOARD PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C EACH DIRECTOR, OFFICER AND MEMBER OF A COMMITTEE WITH BOARD-DELEGATED POWERS SIGNS A STATEMENT, AND IS ANNUALLY REMINDED OF THE STATEMENT, WHICH AFFIRMS THAT SUCH PERSON: A) HAS RECEIVED A COPY OF THIS POLICY ON FINANCIAL CONFLICTS OF INTEREST, B) HAS READ AND UNDERSTANDS THE POLICY, C) AGREES TO COMPLY WITH THE POLICY, AND D) UNDERSTANDS THAT THE CORPORATION IS A TAX-EXEMPT ORGANIZATION AND THAT IN ORDER TO MAINTAIN ITS TAX EXEMPTION THE CORPORATION MUST ENGAGE PRIMARILY IN ACTIVITIES WHICH ACCOMPLISH ONE OR MORE OF ITS TAX-EXEMPT PURPOSES. IF IT IS DETERMINED THAT ANY DIRECTOR, OFFICER OR MEMBER OF A COMMITTEE WITH BOARD-DELEGATED POWERS IS AN INTERESTED PERSON AND THAT A FINANCIAL CONFLICT OF INTEREST EXISTS: A) IF DETERMINED BY THE BOARD OR COMMITTEE TO BE APPROPRIATE, THE CHAIRPERSON OF THE BOARD OR COMMITTEE APPOINTS A DISINTERESTED PERSON OR COMMITTEE TO INVESTIGATE ALTERNATIVES TO THE TRANSACTION OR ARRANGEMENT PROPOSED BY OR FOR THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 15A IN APPROVING ANY COMPENSATION ARRANGEMENT, THE DIRECTORS WILL GATHER INFORMATION SUFFICIENT TO DETERMINE WHETHER THE COMPENSATION ARRANGEMENT IN ITS ENTIRETY IS REASONABLE. IN THE CASE OF COMPENSATION, RELEVANT INFORMATION INCLUDES, BUT IS NOT LIMITED TO, COMPENSATION LEVELS PAID BY SIMILARLY SITUATED ORGANIZATIONS, BOTH TAXABLE AND TAX-EXEMPT, FOR FUNCTIONALLY COMPARABLE POSITIONS, THE AVAILABILITY OF SIMILAR SERVICES IN THE GEOGRAPHIC AREA OF THE APPLICABLE TAX-EXEMPT ORGANIZATION, CURRENT COMPENSATION SURVEYS COMPILED BY INDEPENDENT FIRMS, AND ACTUAL WRITTEN OFFERS FROM SIMILAR INSTITUTIONS. THE REVIEW IS DOCUMENTED IN THE BOARD MINUTES. THE LAST COMPENSATION REVIEW FOR THE MANAGING DIRECTOR TOOK PLACE AUGUST 2021. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G PROGRAM ADIVSORS: PROGRAM SERVICE EXPENSES 828,810. MANAGEMENT AND GENERAL EXPENSES 59,211. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 888,021. OTHER CONSULTANTS: PROGRAM SERVICE EXPENSES 115,314. MANAGEMENT AND GENERAL EXPENSES 8,237. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 123,551. BUSINESS DEVELOPMENT: PROGRAM SERVICE EXPENSES 35,831. MANAGEMENT AND GENERAL EXPENSES 2,560. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 38,391. FORM 990, PART IX, LINE 24B, INCOME TAXES: FOREIGN ENTITIES ARE REGISTERED BRANCH OFFICES OF THE BUSARA CENTER-US AND ARE TAXED ON THE PROFIT EARNED DURING THE FISCAL YEAR.