2024-12-23T13:58:50-06:00 2022-12-31 221478099 COHNREZNICK LLP 500 EAST PRATT STREET 4TH FLOOR BALTIMORE MD 21202 990 2022-01-01 042200147 SALZBURG GLOBAL SEMINAR INC SALZ 2026377683 1541 14TH STREET NW 2 WEST WASHINGTON DC 20005 JULIE JONES CFO 2026377683 2024-12-20 1 0 LORI ROTHE YOKOBOSKY CPA P01273422 4107834900 2024-12-18 2022 2024-10-15 13:58:12Z X JULIE JONES 1541 14TH STREET NW 2 WEST WASHINGTON DC 20005 13990301 0 X WWW.SALZBURGGLOBAL.ORG X 1947 MA TO CHALLENGE CURRENT AND FUTURE LEADERS TO SHAPE A BETTER WORLD. 24 22 8 15 3499710 0 6257510 11603560 2153214 3634551 -350198 -1279527 163195 255018 8223721 14213602 0 0 0 0 4756931 5164561 0 0 802977 3637877 5899733 8394808 11064294 -171087 3149308 32915580 30912683 18371354 14131019 14544226 16781664 X THE MISSION OF SALZBURG GLOBAL SEMINAR IS TO CHALLENGE CURRENT AND FUTURE LEADERS TO SHAPE A BETTER WORLD. OUR MULTI-YEAR PROGRAMS AIM TO BRIDGE DIVIDES, EXPAND COLLABORATIONS, AND TRANSFORM SYSTEMS. 0 0 8090856 389859 SALZBURG GLOBAL SEMINAR, INC. ("SGS") IS AN INDEPENDENT NON-PROFIT ORGANIZATION, HEADQUARTERED IN WASHINGTON D.C. AND BASED AT SCHLOSS LEOPOLDSKRON IN SALZBURG, AUSTRIA. SGS WAS FOUNDED IN 1947 BY THREE YOUNG VISIONARIES AT HARVARD UNIVERSITY AS THE "SALZBURG SEMINAR IN AMERICAN STUDIES" TO ENCOURAGE THE REVIVAL OF INTELLECTUAL DIALOGUE IN POST-WAR EUROPE. SGS CONVENES OUTSTANDING TALENT ACROSS GENERATIONS, CULTURES AND SECTORS TO INSPIRE NEW THINKING AND ACTION, AND TO CONNECT LOCAL INNOVATORS WITH GLOBAL RESOURCES. SEE SCHEDULE O FOR CONTINUING INFORMATION.OUR PROGRAMS COVER CHALLENGES FACING THE WORLD IN EDUCATION, HEALTH, ENVIRONMENT, FINANCE, RULE OF LAW, HUMAN RIGHTS, MEDIA AND THE ARTS. WE FOSTER LASTING NETWORKS AND PARTNERSHIPS FOR CREATIVE, JUST AND SUSTAINABLE CHANGE. OVER 40,000 FELLOWS FROM MORE THAN 170 COUNTRIES HAVE COME TOGETHER THROUGH OUR WORK, WITH MANY RISING TO SENIOR LEADERSHIP POSITIONS. OUR HISTORIC HEADQUARTERS AT SCHLOSS LEOPOLDSKRON IN SALZBURG, AUSTRIA, BUILT IN 1736 BY THE ARCHBISHOP OF SALZBURG, RESTORED BY THE SALZBURG FESTIVAL'S CO-FOUNDER MAX REINHARDT, USED BY HOLLYWOOD FOR SETS IN THE SOUND OF MUSIC, AND NOW AN AWARD-WINNING HOTEL ALLOWS US TO WELCOME ALL PARTICIPANTS IN CONDITIONS OF TRUST AND OPENNESS.FOR MORE INFORMATION AND TO SEE OUR CALENDAR OF UPCOMING PROGRAMS, PLEASE VISIT: WWW.SALZBURGGLOBAL.ORG 8090856 1 1 0 0 0 0 0 0 0 1 1 0 0 0 1 1 0 1 1 1 1 0 1 1 0 0 0 0 1 1 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 1 21 0 1 8 1 1 1 1 AU 0 0 0 0 0 0 0 0 0 0 X 24 22 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA MD MA NY VA VT MI X X JULIE JONES 2026377683 1541 14TH STREET NW SUITE 2 WEST WASHINGTON DC 20005 X ADENA TESTA SECRETARY 1.00 X X 0 0 0 ANDRE KELLENERS DIRECTOR 1.00 X 0 0 0 ANNE GATES DIRECTOR 1.00 X 0 0 0 BOB HOYT DIRECTOR 1.00 X 0 0 0 BRIGHT SIMONS DIRECTOR 1.00 X 0 0 0 BYRON L BOSTON TREASURER 1.00 X X 0 0 0 CHRISTOPHER F LEE DIRECTOR 1.00 X 0 0 0 CLAUDIO X GONZALEZ VICE CHAIR 1.00 X X 0 0 0 DANIELE MMINELE DIRECTOR 1.00 X 0 0 0 GRANT CAMBRIDGE DIRECTOR 1.00 X 0 0 0 JESSICA ELIASI DIRECTOR 1.00 X 0 0 0 JOHN B BELLINGER III DIRECTOR 1.00 X 0 0 0 MARJORIE LAYDEN-SCHIMBERG DIRECTOR 1.00 X 0 0 0 MARTHA A DARLING DIRECTOR 1.00 X 0 0 0 MARTIN WEISS PRESIDENT 40.00 X X 161178 0 41830 MAX M SCHLERETH DIRECTOR 1.00 X 0 0 0 ROBERT H MUNDHEIM DIRECTOR 1.00 X 0 0 0 ULRIKE SCHWARZ-RUNER DIRECTOR 1.00 X 0 0 0 VICTORIA KENNEDY DIRECTOR 1.00 X 0 0 0 VICTORIA MARS CHAIR OF THE BOARD 1.00 X X 0 0 0 BEN GLAHN DEPUTY CEO AND MANAGING DIRECTOR PROGRAMS 40.00 X 182422 0 56600 DANIEL SZELEYNI MANAGING DIRECTOR SCHLOSS LEOPOLDSKRON 40.00 X 128999 0 45289 MANUELA RESCH-TRAMPITSCH MANAGING DIRECTOR FINANCE 40.00 X 100076 0 38838 THOMAS BIEBL MANAGING DIRECTOR PUBLIC AFFAIRS 40.00 X 114108 0 42014 STEPHEN L SALYER PRESIDENT 40.00 X 241148 0 23299 927931 0 247870 6 1 1 0 MARCUM LLP 750 THIRD AVENUE 11TH FLOOR NEW YORK NY 10017 ACCOUNTING SERVICES 259544 MARY HELEN POMBO 9 LEMBO DRIVE WETHERSFIELD CT 06109 HEALTH PROGRAM DIRECTOR 104415 COHN REZNICK 14 SYLVAN WAY 3RD FLOOR PARSIPPANY NJ 07054 TAX SERVICES 101194 3 58142 11545418 11603560 CONFERENCE INCOME 721000 3349943 3349943 PARTICIPANT FUNDED TUITION 611430 284608 284608 3634551 -1516850 -1516850 14022 -316750 93449 330772 -93449 237323 237323 OTHER INCOME (LOSS) 721000 255018 105251 149767 255018 14213602 389859 3499710 -1279527 X 467454 392581 48883 25990 4697107 3944754 491194 261159 13034 5802 5231 2001 349566 155604 140285 53677 1356037 603618 544196 208223 556993 371097 85921 99975 819513 460272 208386 150855 373515 95057 278458 437687 326281 111406 FOOD & BEVERAGE 847756 847756 MAINTENANCE AND UTILITI 445523 445523 TAXES 79270 45514 33756 BAD DEBT 5000 5000 615839 396997 217745 1097 11064294 8090856 2170461 802977 4242043 1881035 574958 572604 569581 2303447 683442 2022396 13999000 8697289 5768727 5301711 21076829 18714266 117224 32915580 30912683 1864235 2135948 1275178 811971 15231941 11064685 0 118415 18371354 14131019 X -7767227 -6257186 22311453 23038850 14544226 16781664 32915580 30912683 X 3149308 -2937529 2025659 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 17590238 197149 -1896767 900000 14990620 17065732 275669 1148837 900000 17590238 16175928 294866 1494938 900000 17065732 15076451 371424 1665950 937897 16175928 16918156 428298 1320003 950000 15076451 0.83000 0.17000 0 0 148726 148726 12794008 8586177 4207831 1056266 111112 945154 5301711 OPERATING LEASES LIABILITIES 118415 118415 X PART X, LINE 2: THE SEMINAR IS EXEMPT FROM U.S. INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE SEMINAR'S TAX-EXEMPT PURPOSE IS SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. DURING THE YEARS ENDED DECEMBER 31, 2022 AND 2021, THE SEMINAR EARNED UNRELATED BUSINESS INCOME FROM ITS AUSTRIA FACILITIES. ACCORDINGLY, THESE CONSOLIDATED FINANCIAL STATEMENTS REFLECT PROVISIONS FOR UNRELATED BUSINESS INCOME AS DESCRIBED IN NOTE 9. THE SEMINAR IS ALSO SUBJECT TO CERTAIN TAXES IN AUSTRIA AND U.S. PERSONAL PROPERTY TAX. 1 1 1 1 1 1 1 0 0 0 0 0 0 0 0 1 0 1 SCHEDULE E, PART I, LINE 3 THE NONDISCRIMINATION POLICY IS PUBLISHED IN THE REGISTRATION MATERIAL IN BOTH PRINTED FORM AND ON THE ORGANIZATIONS WEBSITE. 1 EUROPE 1 PROGRAM SERVICES EDUCATIONAL CENTER 7352505 0 0 0 0 0 0 7352505 0 7352505 SCHOLARSHIP AFRICA 2 11129 TUITION WAIVER BOOK SCHOLARSHIP EAST ASIA AND THE PACIFIC 21 118448 TUITION WAIVER BOOK SCHOLARSHIP NORTH AMERICA 3 17971 TUITION WAIVER BOOK SCHOLARSHIP SOUTH AND CENTRAL ASIA 18 105997 TUITION WAIVER BOOK 0 0 0 0 0 0 PART I, LINE 2: APPROXIMATELY 50 FELLOWS FROM UP TO 30 COUNTRIES PARTICIPATE IN EACH SEMINAR. ADMISSION IS HIGHLY SELECTIVE AND THE FELLOWS ADMITTED MEET THREE CRITERIA: 1) THEY HAVE A BACKGROUND APPROPRIATE TO THE SESSION AND ARE REPRESENTATIVE OF IMPORTANT SECTORS; 2) THEY ARE PROFICIENT IN ENGLISH, COMMUNICATIVE, AND WILLING TO NETWORK; AND, 3) THEY HAVE A PERSONAL RECOMMENDATION BY A SENIOR PERSON IN THEIR FIELD. FELLOWS ARE RECRUITED THROUGH AN EXTENSIVE NETWORK OF ALUMNI, FACULTY REFERRALS, AND THE PUBLIC. THE FELLOWS ENGAGE IN AN INTENSE EDUCATIONAL AND CROSS CULTURAL EXPERIENCE WITH PEERS FROM AROUND THE WORLD. PART III ACCOUNTING METHOD: X X X 1 CARTER CONSULTING GROUP LLC 2810 OLD LEE HWY FAIRFAX VA 22031 0 139025 0 27000 139025 27000 MA NY VA MD CA MI VT 1 SCHOLARSHIP 2 12907 BOOK TUITION WAIVER PART I, LINE 2: APPROXIMATELY 50 FELLOWS FROM UP TO 30 COUNTRIES PARTICIPATE IN EACH SEMINAR. ADMISSION IS HIGHLY SELECTIVE AND THE FELLOWS ADMITTED MEET THREE CRITERIA: 1) THEY HAVE A BACKGROUND APPROPRIATE TO THE SESSION AND ARE REPRESENTATIVE OF IMPORTANT SECTORS; 2) THEY ARE PROFICIENT IN ENGLISH, COMMUNICATIVE, AND WILLING TO NETWORK; AND, 3) THEY HAVE A PERSONAL RECOMMENDATION BY A SENIOR PERSON IN THEIR FIELD. FELLOWS ARE RECRUITED THROUGH AN EXTENSIVE NETWORK OF ALUMNI, FACULTY REFERRALS, AND THE PUBLIC. THE FELLOWS ENGAGE IN AN INTENSE EDUCATIONAL AND CROSS CULTURAL EXPERIENCE WITH PEERS FROM AROUND THE WORLD. X X 1 1 X X X X 1 0 0 0 0 0 0 0 0 STEPHEN L SALYER PRESIDENT 181352 0 56735 0 3061 0 16516 0 6783 0 264447 0 0 0 BEN GLAHN DEPUTY CEO AND MANAGING DIRECTOR PRO 157354 0 23061 0 2007 0 22894 0 33706 0 239022 0 0 0 MARTIN WEISS PRESIDENT 136638 0 21800 0 2740 0 20228 0 21602 0 203008 0 0 0 DANIEL SZELEYNI MANAGING DIRECTOR SCHLOSS LEOPOLDSKR 115923 0 11657 0 1419 0 16189 0 29100 0 174288 0 0 0 THOMAS BIEBL MANAGING DIRECTOR PUBLIC AFFAIRS 101730 0 11123 0 1255 0 14321 0 27693 0 156122 0 0 0 PART I, LINE 4A THE PRESIDENCY OF THE ORGANIZATION CHANGED HANDS IN 2022. THERE IS A PROVISION IN THE CEO'S AGREEMENT THAT DEFERRED BENEFIT AND COMPENSATION WILL BE PAID OUT FROM 2023-2025 GRANT CAMBRIDGE DIRECTOR OF CAPITAL GROUP 4820305 INVESTMENT IN MUTUAL FUNDS 0 AMENDED RETURN SALZBURG GLOBAL SEMINAR INC. IS AMENDING FORM 990 AND FORM 990-T IN ORDER TO PROPERLY STATE RELATED AND UNRELATED BUSINESS REVENUE. REVENUE OF $1,033,238 HAS BEEN MOVED FROM UNRELATED BUSINESS REVENUE TO RELATED BUSINESS REVENUE ON FORM 990. THIS RESULTS IN A DECREASE OF UNRELATED BUSINESS REVENUE AND UNRELATED BUSINESS TAXABLE INCOME ON FORM 990-T FOR THE YEAR ENDED DECEMBER 31, 2022. FORM 990, PART VI, SECTION B, LINE 11B A DRAFT OF THE FORM 990 IS REVIEWED & AUTHORIZED BY THE AUDIT COMMITTEE OF THE BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. THE FORM 990 IS THEN PROVIDED TO THE FULL BOARD. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES ARE UNDER A CONTINUING OBLIGATION TO DISCLOSE ANY ACTUAL OR POTENTIAL CONFLICT OF INTEREST AS SOON AS IT IS KNOWN OR REASONABLY KNOWN. THEY MUST COMPLETE A CONFLICT OF INTEREST DISCLOSURE STATEMENT AND UPDATE IT ANNUALLY. BOARD MEMBERS COMPLETE A CONFLICT OF INTEREST DISCLOSURE STATEMENT ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15 SALZBURG GLOBAL SEMINAR'S COMPENSATION POLICIES ARE APPROVED BY THE SEMINAR'S BOARD OF DIRECTORS WITH THE ASSISTANCE OF THE BOARD COMPENSATION COMMITTEE AS THE POLICIES RELATE TO THE CHIEF EXECUTIVE AND OTHER EXECUTIVE OFFICERS. THE COMPENSATION COMMITTEE'S RESPONSIBILITIES INCLUDE: - REVIEW AND APPROVAL OF SALZBURG GLOBAL SEMINAR'S COMPENSATION STRATEGY TO ENSURE CONSISTENCY WITH ITS MISSION AND VALUES AND APPLICABLE LEGAL AND REGULATORY REQUIREMENTS - ESTABLISH THE CHIEF EXECUTIVE'S COMPENSATION LEVEL AND REPORT ON THE CHIEF EXECUTIVE'S COMPENSATION TO THE BOARD OF DIRECTORS ANNUALLY - RECEIVE AND REVIEW A REPORT ANNUALLY FROM THE CHIEF EXECUTIVE REGARDING THE COMPENSATION OF SENIOR STAFF - REPORT REGULARLY TO THE BOARD ON COMMITTEE ACTIVITIES. THE FULL BOARD WILL APPROVE ANNUAL COMPENSATION INCREASES RECOMMENDED BY THE CHIEF EXECUTIVE FOR NON EXECUTIVE STAFF DURING THE ANNUAL BUDGET PROCESS. COMPENSATION PHILOSOPHY: SALZBURG GLOBAL SEMINAR'S ACTIVITIES ARE GUIDED BY A MISSION STATEMENT AND STRATEGIC PLAN. THE ALLOCATION OF THE ORGANIZATION'S RESOURCES AND ITS COMPENSATION PLANS ARE DESIGNED TO HELP ACHIEVE PROGRESS IN MEETING THE SEMINAR'S MISSION. THE BOARD RECOGNIZES THAT ACHIEVING THE SEMINAR'S MISSION REQUIRES ATTRACTING, RETAINING AND REWARDING SKILLED EXECUTIVES AND PERSONNEL WITHIN APPROPRIATE GUIDELINES ESTABLISHED BY THE IRS AND GOOD NONPROFIT GOVERNANCE PRACTICES. STANDARD FOR MEETING IRS GUIDELINES: - TOTAL COMPENSATION FOR SALZBURG GLOBAL SEMINAR'S SENIOR EXECUTIVES MUST MEET THE STANDARDS OF THE IRS INTERMEDIATE SANCTIONS REGULATIONS - THE IRS INTERMEDIATE SANCTIONS REGULATIONS APPLY TO "DISQUALIFIED PERSONS" AT 501(C)(3) PUBLIC CHARITIES. THE SEMINAR IS A 501(C)(3) ORGANIZATION. A DISQUALIFIED PERSON IS SOMEONE WHO IS IN A POSITION TO EXERCISE SUBSTANTIAL INFLUENCE WITH RESPECT TO THE ORGANIZATION'S AFFAIRS. DISQUALIFIED PERSONS FOR SALZBURG GLOBAL SEMINAR INCLUDE THE PRESIDENT AS WELL AS OTHER KEY EMPLOYEES - COMPENSATION, FOR PURPOSES OF INTERMEDIATE SANCTIONS, INCLUDES ALL REMUNERATION (BASE PAY, INCENTIVES AND BONUSES, DEFERRED COMPENSATION, AND APPROPRIATE COMPARISON FOR INTERMEDIATE SANCTIONS PURPOSES). INCENTIVES AND BONUSES ARE PERMISSIBLE UNDER INTERMEDIATE SANCTIONS, AS LONG AS THE TOTAL AMOUNT OF COMPENSATION IS REASONABLE. SALZBURG GLOBAL SEMINAR PROCESS: - EACH NOVEMBER THE FULL BOARD APPROVES ANNUAL GOALS FOR THE COMING YEAR AND THE PROPOSED ANNUAL INCREASE. THESE GOALS BECOME THE BASIS FOR ESTABLISHING PERFORMANCE GOALS FOR DEPARTMENTS AND INDIVIDUALS - PRIOR TO THIS MEETING THE COMPENSATION COMMITTEE MEETS TO ESTABLISH OVERALL COMPENSATION PHILOSOPHY FOR THE PRESIDENT AND OTHER EXECUTIVES FOR THE COMING YEAR - THE COMMITTEE HAS SET A GOAL THAT EMPLOYEES' TOTAL COMPENSATION BE AT THE MARKET MEDIAN - TO MEET THE "REASONABLE STANDARD" OF THE IRS, SALZBURG GLOBAL SEMINAR HIRES AN INDEPENDENT OUTSIDE CONSULTANT TO HELP DETERMINE AS THE IRS STATES "THE VALUE THAT WOULD ORDINARILY BE PAID FOR LIKE SERVICES BY LIKE ENTERPRISES UNDER LIKE CIRCUMSTANCES". WORKING WITH THE COMPENSATION COMMITTEE, THE CONSULTANT HAS IDENTIFIED A GROUP OF ORGANIZATIONS AND COMPENSATION SURVEYS MOST COMPARABLE TO THE SEMINAR AND USES THIS DATA TO REVIEW THE PRESIDENT AND OTHER EXECUTIVE COMPENSATION - THE COMPENSATION COMMITTEE REVIEWS THE CONSULTANT'S REPORT AND MAKES RECOMMENDATIONS WHICH ARE REVIEWED AND VOTED ON BY THE FULL BOARD. THE FULL BOARD APPROVES THE COMPENSATION FOR THE PRESIDENT. THE PRESIDENT IS ALLOWED TO APPROVE COMPENSATION FOR SENIOR EXECUTIVES AFTER REVIEW BY THE COMPENSATION COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 SALZBURG GLOBAL SEMINAR'S GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS ARE MADE AVAILABLE ON ITS WEBSITE WWW.SALZBURGGLOBAL.ORG. THE FORM 990 IS AVAILABLE THROUGH WWW.GUIDESTAR.ORG. ALL DOCUMENTS ARE PROVIDED UPON REQUEST FROM THE PUBLIC. FORM 990, PART VII, SECTION A STEPHEN SALYER, PRESIDENT AND CEO STEPPED DOWN ON JULY 31, 2022. AND ON AUGUST 1, 2022, MARTIN WEISS BECAME THE PRESIDENT AND CEO. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 603,618. MANAGEMENT AND GENERAL EXPENSES 544,196. FUNDRAISING EXPENSES 208,223. TOTAL EXPENSES 1,356,037. FORM 990, PART XI, LINE 9: FOREIGN CURRENCY TRANSLATION ADJUSTMENTS 2,025,659.