2024-10-22T09:34:17-05:00 2023-12-31 410746749 CLIFTONLARSONALLEN 29 SOUTH MAIN STREET 4TH FLOOR WEST HARTFORD CT 06107 990 2023-01-01 042121305 AMERICAN INSTITUTE FOR ECONOMIC RESEARCH AMER 4135281216 PO BOX 1000 250 DIVISION ST GREAT BARRINGTON MA 01230 MICHELE M KEARNS VICE PRESIDENT OF FINANCE 4135281216 2024-10-02 1 1 MARY KAY CURTISS P01551484 8605614000 2024-10-02 2023 2024-10-15 13:58:12Z MICHELE M KEARNS PO BOX 1000 250 DIVISION ST GREAT BARRINGTON MA 01230 11180364 0 X HTTPS://WWW.AIER.ORG/ X 1939 MA AIER CONDUCTS INDEPENDENT, SCIENTIFIC, ECONOMIC RESEARCH TO EDUCATE PEOPLE, THEREBY ADVANCING THEIR PERSONAL INTERESTS AND THOSE OF THE NATION. 13 13 68 55 4814 0 1948990 2703669 72986 446190 1384094 1906452 -10514 -237179 3395556 4819132 203985 66760 0 0 4697861 4962955 0 0 990695 3649429 4222250 8551275 9251965 -5155719 -4432833 184181536 193880453 74928340 81972040 109253196 111908413 X AMERICAN INSTITUTE FOR ECONOMIC RESEARCH (AIER) EDUCATES PEOPLE ON THE VALUE OF PERSONAL FREEDOM, FREE ENTERPRISE, PROPERTY RIGHTS, LIMITED GOVERNMENT AND SOUND MONEY. AIER'S ONGOING SCIENTIFIC RESEARCH DEMONSTRATES THE IMPORTANCE OF THESE PRINCIPLES IN ADVANCING PEACE, PROSPERITY AND HUMAN PROGRESS. 0 0 3726065 0 61479 RESEARCH REPORTS AND BULLETINS - PREPARATION AND DISTRIBUTION OF PERIODIC ECONOMIC REPORTS AND OCCASIONAL BOOKLETS FOCUSED ON SELECTED TOPICS IN THE AREAS OF FISCAL AND MONETARY ECONOMICS, INCLUDING PERSONAL ECONOMIC ISSUES. THESE ARE DISTRIBUTED TO MEMBERS AND THE GENERAL PUBLIC. DURING 2023, APPROXIMATELY 624,732 INDIVIDUALS, INSTITUTIONS AND PUBLISHERS RECEIVED THE REPORTS AND MORE THAN 3,486,000 READERS VISITED AIER'S WEBSITE. 3526340 66760 384711 ACADEMIC PROGRAMS - DURING 2023, AIER PROVIDED EDUCATIONAL OPPORTUNITIES FOR OVER 5,119 PARTICIPANTS/ATTENDEES. THROUGH OUR TEACH THE TEACHERS PROGRAM, 101 EDUCATORS SUCCESSFULLY COMPLETED COURSES DEALING WITH PRACTICAL ECONOMIC TOPICS WHICH THEY CAN USE FOR THEIR ESTIMATED 12,037 STUDENTS. THE BASTIAT SOCIETY AT AIER ORGANIZES AND HOSTS EDUCATION EVENTS FOR THE GENERAL BUSINESS COMMUNITY IN 31 CITIES AROUND THE WORLD. DURING THE YEAR, THIS PROGRAM HELD 126 EVENTS ATTRACTING OVER 4,410 PEOPLE. IN ADDITION, AIER WELCOMED 560 STUDENTS, SCHOLARS, AND MEMBERS OF THE PUBLIC TO ITS CAMPUS TO ATTEND VARIOUS COLLOQUIA, WORKSHOPS, AND FORUMS. AIER ALSO HOSTED 36 VISITING RESEARCHERS AND 16 INTERNS. AIER'S SOUND MONEY PROJECT CONDUCTS RESEARCH AND PROMOTES AWARENESS ABOUT MONETARY STABILITY AND FINANCIAL PRIVACY. THE PROJECT IS COMPRISED OF LEADING ACADEMICS AND PRACTITIONERS IN MONEY, BANKING AND MACROECONOMICS. IT OFFERS REGULAR COMMENTARY AND IN-DEPTH ANALYSIS ON MONETARY POLICY, ALTERNATIVE MONETARY SYSTEMS, FINANCIAL MARKETS REGULATIONS, CRYPTOCURRENCIES, AND THE HISTORY OF MONETARY AND MACROECONOMIC THOUGHT. MEMBERS OF THE PROJECT HAVE CONTRIBUTED 88 ARTICLES TO AIER.ORG DURING 2023. 7252405 1 1 0 0 0 1 0 0 0 0 1 1 0 0 1 1 0 1 0 1 1 1 1 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 1 103 0 1 68 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 13 13 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 MA PA SC AL AK AR CA CO DC FL GA HI KS KY ME MD MI MN MS NV NH NJ NM NY NC ID OH OK OR PA RI TN UT VA WA WV WI MO X MICHELE M KEARNS 4135281216 250 DIVISION ST GREAT BARRINGTON MA 01230 GREGORY M VAN KIPNIS CHAIR 10.00 X X 0 0 0 STEPHEN C MILLER SECRETARY (THRU 8/23) 10.00 X X 0 0 0 FREDERICK C HARWOOD SECRETARY (AS OF 8/23) 10.00 X X 0 0 0 TERRY W ANKER TRUSTEE 5.00 X 0 0 0 KATHERINE H DELAY TRUSTEE 5.00 X 0 0 0 LATIMER B EDDY TRUSTEE 5.00 X 0 0 0 NELSON E FURLANO TRUSTEE 5.00 X 0 0 0 DOUGLAS L HARWOOD TRUSTEE 5.00 X 0 0 0 ADAM KISSEL TRUSTEE 5.00 X 0 0 0 BRADLEY K HOBBS TRUSTEE 5.00 X 0 0 0 JAMES C LORDEMAN TRUSTEE 5.00 X 0 0 0 REED E PHILLIPS TRUSTEE 5.00 X 0 0 0 SURSE T PIERPOINT TRUSTEE 5.00 X 0 0 0 BENJAMIN W POWELL TRUSTEE 5.00 X 0 0 0 GERALD E SOHAN TRUSTEE (THRU 10/23) 5.00 X 0 0 0 WILLIAM RUGER PRESIDENT 40.00 X 535814 0 15954 MICHELE M KEARNS VICE PRESIDENT, FINANCE 40.00 X 213810 0 31981 PHILLIP MAGNESS DIR. 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RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 5600 139053 1 1 294503 294503 9023423 4037625 4985798 314305 272138 42167 719213 621959 97254 5419722 RESTRICTED TRUST ASSETS UNDER SPLIT INTEREST AGREEMENTS 150647424 F OTHER RESTRICTED INVESTMENTS 139053 F 150786477 LIABILITIES UNDER SPLIT INTEREST AGREEMENTS 79858139 SPLIT INTEREST TRUSTS DISTRIBUTIONS PAYABLE 1535517 INVESTMENT ADVISORY FEE PAYABLE 94994 81488650 X PART X, LINE 2: AIER FILES FORM 990 ANNUALLY WITH THE INTERNAL REVENUE SERVICE. WHEN ANNUAL RETURNS ARE FILED, SOME TAX POSITIONS TAKEN ARE HIGHLY CERTAIN TO BE SUSTAINED UPON EXAMINATION BY THE TAXING AUTHORITIES, WHILE OTHER TAX POSITIONS ARE SUBJECT TO UNCERTAINTY ABOUT THE TECHNICAL MERITS OF THE POSITION OR AMOUNT OF THE POSITION'S TAX BENEFIT THAT WOULD BE ULTIMATELY SUSTAINED. MANAGEMENT EVALUATED TAX POSITIONS TAKEN AND HAS DETERMINED THAT AIER HAS NOT TAKEN ANY MATERIAL UNCERTAIN TAX POSITIONS AT DECEMBER 31, 2023 AND 2022. 0 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 GRANTS AND FINANCIAL ASSISTANCE TO RECIPIENTS LOCATED IN THE REGION 28500 NORTH AMERICA - CANADA AND MEXICO, BUT NOT THE UNITED STATES 0 0 GRANTS AND FINANCIAL ASSISTANCE TO RECIPIENTS LOCATED IN THE REGION 3500 CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 GRANTS AND FINANCIAL ASSISTANCE TO RECIPIENTS LOCATED IN THE REGION 3500 SUB-SAHARAN AFRICA - ANGOLA, BENIN, BOTSWANA, BURKINA FASO, 0 0 GRANTS AND FINANCIAL ASSISTANCE TO RECIPIENTS LOCATED IN THE REGION 4200 0 0 0 0 0 0 39700 0 39700 EUROPE (INCLUDING ICELAND & GREENLAND) CONTRIBUTION FOR ECONOMIC CONFERENCE 25000 WIRE TRANSFER 0 0 0 SCHOLARSHIPS - AIER EXTENDS FINANCIAL AID TO QUALIFIED STUDENTS OF ECONOMICS OR FINANCE TO ASSIST THEM IN THEIR GRADUATE LEVEL STUDIES AT THEIR REGULAR UNIVERSITIES NORTH AMERICA 1 3500 CHECK SCHOLARSHIPS - AIER EXTENDS FINANCIAL AID TO QUALIFIED STUDENTS OF ECONOMICS OR FINANCE TO ASSIST THEM IN THEIR GRADUATE LEVEL STUDIES AT THEIR REGULAR UNIVERSITIES CENTRAL AMERICA AND THE CARIBBEAN 1 3500 CHECK SCHOLARSHIPS - AIER EXTENDS FINANCIAL AID TO QUALIFIED STUDENTS OF ECONOMICS OR FINANCE TO ASSIST THEM IN THEIR GRADUATE LEVEL STUDIES AT THEIR REGULAR UNIVERSITIES SUB-SAHARAN AFRICA 1 4200 CHECK SCHOLARSHIPS - AIER EXTENDS FINANCIAL AID TO QUALIFIED STUDENTS OF ECONOMICS OR FINANCE TO ASSIST THEM IN THEIR GRADUATE LEVEL STUDIES AT THEIR REGULAR UNIVERSITIES EUROPE (INCLUDING ICELAND & GREENLAND) 1 3500 CHECK 0 0 0 0 0 0 1 0 0 SCHOLARSHIPS - AIER EXTENDS FINANCIAL AID TO QUALIFIED STUDENTS OF ECONOMICS OR FINANCE TO ASSIST THEM IN THEIR GRADUATE LEVEL STUDIES AT THEIR REGULAR UNIVERSITIES 8 27060 N/A N/A PART I, LINE 2: NONE X 1 1 X X X 0 0 0 0 0 0 0 1 0 WILLIAM RUGER PRESIDENT 459414 0 75000 0 1400 0 13200 0 2754 0 551768 0 0 0 MICHELE M KEARNS VICE PRESIDENT, FINANCE 213810 0 0 0 0 0 9019 0 22962 0 245791 0 0 0 PHILLIP MAGNESS DIR. OF RESEARCH & EDU (THRU 7/23) 223497 0 0 0 0 0 9359 0 8973 0 241829 0 0 0 SAMUEL GREGG SENIOR RESEARCH FACULTY 208708 0 0 0 0 0 8363 0 986 0 218057 0 0 0 BRADLEY J DEVOS DIRECTOR OF PROGRAMS 187216 0 0 0 0 0 7731 0 20687 0 215634 0 0 0 THOMAS L HOGAN SENIOR RESEARCH FACULTY 153026 0 0 0 0 0 6256 0 8204 0 167486 0 0 0 PART I, LINE 1A TEMPORARY HOUSING WHILE RELOCATING TO MASSACHUSETTS PART I, LINE 3 VICE PRESIDENT OF FINANCE FROM TIME TO TIME PROVIDES MARKET DATA TO THE COMPENSATION COMMITTEE. DELIBERATION AND DECISION BY THE BOARD OF TRUSTEES REGARDING COMPENSATION ADJUSTMENTS FOR EXECUTIVES ARE BASED ON PERFORMANCE EVALUATIONS AND MARKET DATA. THESE DECISIONS ARE RECORDED IN THE OFFICIAL MINUTES OF ITS MEETINGS. PART I, LINE 7 DISCRETIONARY BONUS WAS PAID TO CERTAIN EMPLOYEES. X 3 329872 ELECTRONIC PRICING 0 0 1 0 PART I, COLUMN (B): THE FIGURE IN COLUMN (B) REPRESENTS THE NUMBER OF DONORS IN THAT CATEGORY. FORM 990, PART VI, SECTION A, LINE 2 KATHERINE DELAY, FREDERICK HARWOOD AND DOUGLAS HARWOOD HAVE A FAMILY RELATIONSHIP. KATHERINE DELAY AND FREDERICK HARWOOD ARE SIBLINGS AND DOUGLAS HARWOOD IS THEIR COUSIN. FORM 990, PART VI, SECTION A, LINE 6 THE MEMBERS OF THE CORPORATION ARE THOSE WHO ORIGINALLY ASSOCIATED TO INCORPORATE PLUS ADDITIONAL MEMBERS ELECTED UNDER THE PROVISIONS OF THE ORGANIZATION'S BYLAWS. THE MEMBERS OF THE CORPORATION MAY, BY A MAJORITY VOTE, ELECT ADDITIONAL MEMBERS, WHO SHALL SERVE FOR SIX YEARS AND SHALL BE ELIGIBLE FOR RE-ELECTION FOR SUCCESSIVE SIX YEAR TERMS; HOWEVER, THE TERM OF ANY MEMBER WHO IS AN EMPLOYEE OF THE INSTITUTE SHALL EXPIRE ON THE DATE SUCH MEMBER'S STATUS AS AN EMPLOYEE OF THE INSTITUTE IS TERMINATED FOR CAUSE. TRUSTEES WHO ARE NOT MEMBERS OF THE CORPORATION, BUT WHO ARE RE-ELECTED FOR A SECOND TERM AS TRUSTEE, SHALL AUTOMATICALLY THEREBY BECOME MEMBERS OF THE CORPORATION AND SHALL RETAIN THAT STATUS WHILE SERVING AS TRUSTEES. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS RESERVE TO THEMSELVES THE POWER TO ELECT THE TRUSTEES; TO ELECT THE SECRETARY OF THE CORPORATION AND TO FILL VACANCIES IN THAT POSITION; AND TO ELECT THE STANDING COMMITTEE OF THE MEMBERS OF THE CORPORATION. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 IS PREPARED IN CONJUNCTION WITH AN INDEPENDENT ACCOUNTING FIRM AND REVIEWED BY THE ASSISTANT COMPTROLLER AND VP FINANCE. A FINAL DRAFT IS DISTRIBUTED TO THE TRUSTEES FOR QUESTIONS AND COMMENTS APPROXIMATELY TWO WEEKS PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C ALL OFFICERS AND TRUSTEES COMPLETE AN ANNUAL CONFLICT OF INTEREST FORM. THE VP FINANCE KEEPS THIS AND FORWARDS TO RESPONSIBLE PERSONS ANY INDICATED POTENTIAL CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 VP OF FINANCE FROM TIME TO TIME PROVIDES MARKET DATA TO THE COMPENSATION COMMITTEE. DELIBERATION AND DECISION BY THE BOARD OF TRUSTEES REGARDING COMPENSATION ADJUSTMENTS FOR EXECUTIVES ARE BASED ON PERFORMANCE EVALUATIONS AND MARKET DATA. THESE DECISIONS ARE RECORDED IN THE OFFICIAL MINUTES OF ITS MEETING. THE PROCESS DESCRIBED HERE WAS LAST COMPLETED IN 2023. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G CONSULTING FEES: PROGRAM SERVICE EXPENSES 898,388. MANAGEMENT AND GENERAL EXPENSES 11,028. FUNDRAISING EXPENSES 228,906. TOTAL EXPENSES 1,138,322. FORM 990, PART XI, LINE 9: NET INCOME OF SUBSIDIARY 571,353. CHANGE IN VALUE OF SPLIT INTEREST AGREEMENTS 4,415,790. FORM 990, PART XII, LINE 2C THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. 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