2024-05-02T08:10:05-05:00 2023-06-30 042571780 AAFCPAS INC 50 WASHINGTON STREET WESTBOROUGH MA 01581 990 2022-07-01 042103651 AMERICAN ACADEMY OF ARTS & SCIENCES AMER 6175765000 136 IRVING STREET CAMBRIDGE MA 02138 MARK ROBINSON EXECUTIVE OFFICER 6175765000 2024-05-01 1 MARK ROBINSON XXX-XX-XXXX 1 DAVID KELLEHER CPA P01059560 5083669100 2024-05-01 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z DAVID W OXTOBY 136 IRVING STREET CAMBRIDGE MA 02138 17935200 0 X WWW.AMACAD.ORG X 1780 MA THE AMERICAN ACADEMY OF ARTS AND SCIENCES IS AN HONORARY MEMBERSHIP SOCIETY THAT DRAWS UPON DISTINGUISHED SCHOLARS IN EVERY RELEVANT ART AND SCIENCE TO CONDUCT SERIOUS ANALYSES OF ISSUES OF PRACTICAL CONCERN TO THE NATION. THE ACADEMY EXAMINES POLICY CHALLENGES AND SCHOLARLY QUESTIONS THAT CANNOT BE EASILY ADDRESSED BY SCHOLARS OR PROFESSIONS IN ISOLATION. 18 17 74 700 18384 17323 18577732 12124364 806614 724280 4010119 1031295 22346 110628 23416811 13990567 0 0 0 0 8129742 8699511 0 0 1385118 5766223 7289616 13895965 15989127 9520846 -1998560 123112972 122630308 4361906 3015215 118751066 119615093 X FOUNDED IN 1780, THE AMERICAN ACADEMY OF ARTS AND SCIENCES HONORS EXCELLENCE AND CONVENES LEADERS FROM EVERY FIELD OF HUMAN ENDEAVOR TO EXAMINE NEW IDEAS, ADDRESS ISSUES OF IMPORTANCE TO THE NATION AND THE WORLD, AND WORK TOGETHER "TO CULTIVATE EVERY ART AND SCIENCE WHICH MAY TEND TO ADVANCE THE INTEREST, HONOR, DIGNITY, AND HAPPINESS OF A FREE, INDEPENDENT, AND VIRTUOUS PEOPLE." THE ACADEMY CURRENTLY UNDERTAKES A BROAD ARRAY OF ACTIVITIES IN FIVE PROJECT CATEGORIES: SCIENCE, ENGINEERING, AND TECHNOLOGY; GLOBAL SECURITY AND INTERNATIONAL AFFAIRS; EDUCATION AND THE DEVELOPMENT OF KNOWLEDGE; THE HUMANITIES, ARTS, AND CULTURE; AND AMERICAN INSTITUTIONS, SOCIETY, AND THE PUBLIC GOOD. 0 0 5601906 ACADEMY PROJECTS AND STUDIES - DRAWING FROM EVERY FIELD OF RESEARCH AND PROFESSIONAL PRACTICE, THE ACADEMY BRINGS TOGETHER SCHOLARS, ARTISTS, POLICY-MAKERS, BUSINESS LEADERS, AND OTHER EXPERTS TO EXAMINE THE MOST PRESSING PROBLEMS FACING OUR WORLD. OFTEN, THE ACADEMY'S INFLUENTIAL STUDIES HELP PIONEER NEW FIELDS THAT TRANSCEND DISCIPLINARY BOUNDARIES. 1570144 684111 PROJECT OUTREACH AND EVENTS - THE ACADEMY REGULARLY SPONSORS MEETINGS, LECTURES, PANEL DISCUSSIONS, AND INFORMAL GATHERINGS AROUND THE COUNTRY. TOPICS ARE DRAWN FROM ACADEMY PROJECTS AS WELL AS THE RESEARCH AND WRITINGS OF ACADEMY MEMBERS. 1065016 40169 PUBLICATIONS - THE ACADEMY MAINTAINS AN ACTIVE PUBLICATIONS PROGRAM TO DISSEMINATE NEW KNOWLEDGE AS WELL AS RECOMMENDATIONS FROM ACADEMY RESEARCH. OUR PUBLICATIONS INFLUENCE SCHOLARS, POLICY-MAKERS, AND OTHER LEADERS IN HIGHER EDUCATION, GOVERNMENT, THE ARTS, BUSINESS, PUBLIC AFFAIRS, AND PHILANTHROPY. 463780 MEMBERSHIP ELECTIONS - ACTIVITIES INVOLVED IN ANNUAL ELECTION OF NEW MEMBERS TO THE ACADEMY 431681 ARCHIVES - ACTIVITIES RELATED TO STORING AND MAINTAINING ACADEMY HISTORICAL DOCUMENTS 491088 COMMUNICATIONS - ACTIVITIES RELATED TO COMMUNICATION OF ACADEMY ACTIVITY TO MEMBERS AND PUBLIC 121609 110628 OTHER PROGRAM SERVICES 1508158 110628 9745224 1 1 0 0 0 0 0 1 0 1 1 1 0 1 0 1 0 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 36 0 1 74 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 18 17 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 MA X X X MARK ROBINSON 6175765000 136 IRVING STREET CAMBRIDGE MA 02138 DAVID OXTOBY PRESIDENT 40.00 1.00 X X 569500 0 41963 MARK ROBINSON EXECUTIVE OFFICER 40.00 1.00 X 290079 0 54393 GINGER SAARIAHO CHIEF ADVANCEMENT OFFICER 40.00 X 233044 0 48853 TANIA MUNZ CHIEF PROGRAMS OFFICER 40.00 X 231278 0 34296 PHYLLIS BENDELL DIRECTOR OF PUBLISHING 40.00 X 180592 0 57105 ALISON FRANKLIN CHIEF COMMUNICATIONS OFFICER 40.00 X 193497 0 20388 LAURIE MCDONOUGH DIRECTOR OF MEMBER ENGAGEMENT 40.00 X 158086 0 16966 GOODWIN H LIU CHAIR OF BOARD 4.00 1.00 X X 0 0 0 NANCY C ANDREWS CHAIR OF BOARD (UNTIL 6/2023) 4.00 1.00 X X 0 0 0 STEPHEN B HEINTZ VICE CHAIR OF BOARD 1.00 1.00 X X 0 0 0 PAULA J GIDDINGS VICE CHAIR OF BOARD 1.00 1.00 X X 0 0 0 KENNETH L WALLACH TREASURER 1.00 1.00 X X 0 0 0 EARL LEWIS SECRETARY 1.00 1.00 X X 0 0 0 KWAME ANTHONY APPIAH MEMBER 1.00 1.00 X 0 0 0 LOUISE H BRYSON MEMBER (UNTIL 6/2023) 1.00 1.00 X 0 0 0 JOHN MARK HANSEN MEMBER 1.00 1.00 X 0 0 0 CHERRY A MURRAY MEMBER 1.00 1.00 X 0 0 0 DAVID M RUBENSTEIN MEMBER 1.00 1.00 X 0 0 0 DEBORAH F RUTTER MEMBER 1.00 1.00 X 0 0 0 LARRY JAY SHAPIRO MEMBER 1.00 1.00 X 0 0 0 SHIRLEY M TILGHMAN MEMBER 1.00 1.00 X 0 0 0 NATASHA TRETHEWEY MEMBER 1.00 1.00 X 0 0 0 JEANNETTE M WING MEMBER 1.00 1.00 X 0 0 0 PAULINE YU MEMBER 1.00 1.00 X 0 0 0 1856076 0 273964 21 0 1 0 CHAPMAN CONSTRUCTION DESIGN 84 WINCHESTER STREET NEWTON MA 02461 CONSTRUCTION DESIGN 1846576 IDEALIST CONSULTING 4076 N MISSISSIPPI AVE PORTLAND OR 97227 INFORMATION TECHNOLOGY 310494 RESTAURANT ASSOCIATES 2400 YORKMONT ROAD CHARLOTTE NC 28217 EVENT SERVICES 305428 KIRKWOOD PRINTING COMPANY LLC 904 MAIN ST WILMINGTON MA 01887 PRINTING SERVICES 276943 AUDIO VISUAL INNOVATIONS PO BOX 844612 BOSTON MA 02284 AUDIO TECH SERVICES 146171 11 1221291 10903073 12124364 CATERING OPERATIONS 900099 684111 684111 ROYALTIES 523999 40169 40169 724280 918214 18384 899830 4057714 3944633 113081 113081 113081 MISCELLANEOUS 900099 110628 110628 110628 13990567 834908 18384 1012911 X 1016953 750512 131187 135254 6088179 3455701 1928458 704020 527093 322988 142063 62042 571795 353434 150684 67677 495491 310151 126220 59120 44317 21461 22856 40194 40194 13488 13488 1821862 1103512 681258 37092 2096029 1284704 588935 222390 696471 126626 569474 371 621901 513854 106845 1202 664452 648899 14690 863 58171 3045 55126 967858 684175 200243 83440 105504 77853 20260 7391 MISCELLANEOUS 122877 52479 66142 4256 FEES AND HONORARIA 36492 35830 662 15989127 9745224 4858785 1385118 3192130 4171296 5567053 7855213 19604030 13172689 385211 12172 12172 371568 276255 26369245 14667449 11639452 11701796 39174181 39793191 29142735 30379006 14024440 15268690 123112972 122630308 2367631 1215792 1994275 1799423 4361906 3015215 X 35322869 37233578 83428197 82381515 118751066 119615093 123112972 122630308 X -1998560 2734343 128244 X X 0 1 X 1 0 X 8064889 13226443 22283692 18577732 12124364 74277120 8064889 13226443 22283692 18577732 12124364 74277120 21550381 52726739 1047013 933764 443296 615150 899830 3939053 1545 11760 18384 31689 78247862 4138561 0.67380 0.66200 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 72598095 2605265 -37711 999554 74166095 71160246 6540123 -4380705 721569 72598095 52392892 5958052 15331851 2522549 71160246 53022939 2164793 -299838 2495002 52392892 51760736 1116661 2362262 2216720 53022939 0.18770 0.69120 0.12110 1 0 17483108 7400745 10082363 770152 555333 214819 8053912 6711371 1342541 62073 62073 11701796 MULTI-STRATEGY FUNDS 7985697 F HEDGE FUNDS - DOMESTIC EQUITITES 13569326 F PRIVATE EQUITY FUNDS 8823983 F 30379006 OTHER ASSETS 16959 DUE FROM AFFILIATES 12120693 BENEFICIAL INTEREST IN PERPETUAL TRUST 2692655 RIGHT-OF-USE ASSET - OPERATING LEASE 438383 15268690 X 16839666 2734343 128244 2862587 13977079 13488 13488 13990567 15975639 0 15975639 13488 13488 15989127 PART III, LINE 1A: THE ACADEMY DOES NOT CAPITALIZE COLLECTIONS THAT HAVE BEEN ACQUIRED THROUGH PURCHASE OR DONATION. PURCHASES OF COLLECTION ITEMS ARE RECORDED AS DECREASES IN UNRESTRICTED ASSETS IN THE YEAR IN WHICH THE ITEMS ARE ACQUIRED. PURCHASES, SALES AND INSURANCE RECOVERIES WHEN APPLICABLE ARE CONSIDERED INVESTING ITEMS IN THE CONSOLIDATED STATEMENT OF CASH FLOWS. PART III, LINE 4: THE AMERICAN ACADEMY OF ARTS AND SCIENCES' COLLECTION OF WORKS OF ART, HISTORICAL DOCUMENTS AND OBJECTS CHRONICLE THE ACADEMY'S HISTORY, MEMBERSHIP, PROGRAMS AND PUBLICATIONS FOR MORE THAN 240 YEARS. THE COLLECTION INCLUDES PUBLICATIONS, WORKS OF ART, SCIENTIFIC INSTRUMENTS AND MANUSCRIPTS DATING FROM THE EARLIEST YEARS OF THE COUNTRY. PART V, LINE 4: ACADEMY-DESIGNATED ENDOWMENTS HAVE NO EXTERNAL RESTRICTIONS BUT HAVE DESIGNATED LIMITATIONS INITIATED BY THE ACADEMY. THESE LIMITATIONS MAY BE CANCELED AT THE DIRECTION OF THE ACADEMY'S BOARD OF DIRECTORS. THESE ENDOWMENTS INCLUDE, AMONG OTHER THINGS, "FUND FOR MAJOR REPAIRS" WHICH IS AN ACADEMY-DESIGNATED RESERVE FUND FOR MAJOR PROPERTY AND EQUIPMENT ADDITIONS AND REPAIRS. TEMPORARILY RESTRICTED ENDOWMENTS REPRESENTS AMOUNTS RECEIVED OR COMMITTED WITH DONOR RESTRICTIONS, WHICH HAVE NOT YET BEEN EXPENDED FOR THEIR DESIGNATED PURPOSE. TEMPORARILY RESTRICTED ENDOWMENTS ALSO INCLUDE A BUILDING FUND AND THE APPRECIATION ON CERTAIN PERMANENTLY RESTRICTED ENDOWMENTS. PERMANENTLY RESTRICTED ENDOWMENTS ARE TYPICALLY RESTRICTED AGAINST EXPENDITURES OF PRINCIPIAL. CONSISTENT WITH THE MASSACHUSETTS UNIFORM PRUDENT MANAGEMENT OF INSTITUTIONAL FUNDS REGULATIONS, THE ACADEMY HAS A POLICY THAT PERMITS SPENDING FROM UNDERWATER ENDOWMENT FUNDS DEPENDING ON THE DEGREE TO WHICH THE FUND IS UNDERWATER, UNLESS OTHERWISE PRECLUDED BY DONOR INTENT. INCOME EARNED ON THE PRINCIPAL WILL BE USED FOR CERTAIN SPECIFIC PURPOSES, IF RESTRICTIONS APPLY. OTHERWISE, THE INCOME EARNED ON PRINCIPAL MAY BE USED FOR GENERAL PURPOSES. THE ENDOWMENT FUNDS ARE USED TO GENERATE INCOME, BASED ON AN APPROVED SPENDING POLICY OF THE BOARD OF DIRECTORS, TO SUPPORT PROGRAM AND ADMINISTRATIVE ACTIVITIES OF THE ACADEMY. PART X, LINE 2: THE ACADEMY ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES IN ACCORDANCE WITH ASC TOPIC, INCOME TAXES. THIS STANDARD CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS AND PRESCRIBES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE CONSOLIDATING FINANCIAL STATEMENTS REGARDING A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. THE ACADEMY HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS WHICH QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE CONSOLIDATING FINANCIAL STATEMENTS AT JUNE 30, 2023. THE ACADEMY'S INFORMATION RETURN IS SUBJECT TO EXAMINATION BY THE FEDERAL AND STATE JURISDICTIONS AND GENERALLY REMAIN OPEN FOR THE MOST RECENT THREE YEARS. PART XI, LINE 2D - OTHER ADJUSTMENTS: DISTRIBUTION INCOME 120,000. INCREASE IN PERPETUAL TRUST 8,244. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 INVESTMENTS 11144413 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 INVESTMENTS 9623980 SOUTH ASIA - AFGHANISTAN, BANGLADESH, BHUTAN, INDIA, MALDIVES, NEPAL, 0 0 INVESTMENTS 2805355 0 0 0 0 0 0 23573748 0 23573748 1 0 1 1 1 0 PART III ACCOUNTING METHOD: X 1 1 X X X X 0 0 0 0 0 0 0 0 0 DAVID OXTOBY PRESIDENT 569500 0 0 0 0 0 25856 0 16107 0 611463 0 0 0 MARK ROBINSON EXECUTIVE OFFICER 290079 0 0 0 0 0 30326 0 24067 0 344472 0 0 0 GINGER SAARIAHO CHIEF ADVANCEMENT OFFICER 233044 0 0 0 0 0 24786 0 24067 0 281897 0 0 0 TANIA MUNZ CHIEF PROGRAMS OFFICER 231278 0 0 0 0 0 23639 0 10657 0 265574 0 0 0 PHYLLIS BENDELL DIRECTOR OF PUBLISHING 180592 0 0 0 0 0 28745 0 28360 0 237697 0 0 0 ALISON FRANKLIN CHIEF COMMUNICATIONS OFFICER 193497 0 0 0 0 0 19163 0 1225 0 213885 0 0 0 LAURIE MCDONOUGH DIRECTOR OF MEMBER ENGAGEMENT 158086 0 0 0 0 0 15878 0 1088 0 175052 0 0 0 PART I, LINE 1A DURING FISCAL YEAR 2023, THERE WERE TRIP TICKETS PURCHASED THAT WERE EITHER FIRST CLASS OR UPGRADED TO FIRST CLASS FOR THE ACADEMY BOARD MEMBERS. FIRST CLASS TRAVEL IS ALLOWED UNDER THE POLICIES OF THE ACADEMY AND ALL FIRST CLASS TRAVEL FOR FISCAL YEAR 2023 MET THE POLICY GUIDELINES. FORM 990, PART VI, SECTION A, LINE 6 THE ACADEMY'S MEMBERSHIP CONSISTS OF FELLOWS, ELECTED FROM CITIZENS OR RESIDENTS OF THE UNITED STATES OF AMERICA, AND INTERNATIONAL HONORARY MEMBERS, ELECTED FROM CITIZENS OR RESIDENTS OF OTHER NATIONS. THE ACADEMY'S MEMBERS ARE ORGANIZED IN VARIOUS CLASSES BASED ON THE ARTS, SCIENCES, AND PROFESSIONS IN WHICH THESE MEMBERS ARE PROFICIENT. FORM 990, PART VI, SECTION A, LINE 7A FELLOWS IN GOOD STANDING MAY NOMINATE AND VOTE FOR OFFICERS, DIRECTORS, AND COUNCIL MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B MEMBERS HAVE THE RIGHT TO VOTE ON THE PRESIDENT'S APPOINTMENT BY THE BOARD, AFTER THE FIRST 5 YEAR PERIOD, FOR ANY SUBSEQUENT 5 YEAR PERIODS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED BY MEMBERS OF SENIOR STAFF, THE CHAIR OF THE BOARD, THE TREASURER AND THE AUDIT COMMITTEE. THE BOARD OF DIRECTORS IS PROVIDED, REVIEWS AND APPROVES THE FINAL FORM OF THE RETURN BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE ACADEMY ANNUALLY UPDATES ITS CONFLICT OF INTEREST DECLARATIONS OF THE BOARD OF DIRECTORS, OFFICERS, MEMBERS OF A COMMITTEE WITH GOVERNING BOARD-DELEGATED POWERS AND MANAGEMENT STAFF. THE ANNUAL STATEMENTS ARE REVIEWED BY STAFF, AND A REPORT FROM MANAGEMENT IDENTIFYING POTENTIAL CONFLICTS THAT MAY REQUIRE FURTHER REVIEW IS PROVIDED TO THE CHAIR OF THE ACADEMY'S AUDIT COMMITTEE, WHO IS RESPONSIBLE FOR REVIEWING THE STATEMENTS AND REFERRING POTENTIAL CONFLICTS TO THE GOVERNING BOARD OR APPROPRIATE COMMITTEE FOR RESOLUTION CONSISTENT WITH THE ACADEMY'S CONFLICT OF INTEREST POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE ACADEMY'S COMPENSATION COMMITTEE CONSISTS OF FIVE MEMBERS OF THE BOARD OF DIRECTORS INCLUDING THE CHAIR, THE TWO VICE-CHAIRS AND THE TREASURER. THE COMMITTEE MEETS ANNUALLY TO REVIEW AND DETERMINE THE SALARY OF THE PRESIDENT AND TO REVIEW THE SALARIES OF OTHER OFFICERS. THESE PROCEDURES USED DATA AS TO COMPARABLE COMPENSATION FOR SIMILARLY QUALIFIED PERSONS IN FUNCTIONALLY COMPARABLE POSITIONS AT SIMILARLY SITUATED ORGANIZATIONS. THERE WAS CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING FOR DELIBERATIONS AND DECISIONS REGARDING THE COMPENSATION ARRANGEMENTS. FORM 990, PART VI, SECTION C, LINE 19 THE ACADEMY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART IX, LINE 11G OTHER PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 1,103,512. MANAGEMENT AND GENERAL EXPENSES 681,258. FUNDRAISING EXPENSES 37,092. TOTAL EXPENSES 1,821,862. FORM 990, PART XI, LINE 9: DISTRIBUTION FROM PERPETUAL TRUST FOR SCIENCE 120,000. INCREASE IN PERPETUAL TRUST FOR SCIENCE 8,244. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR THE OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. FORUM FOR THE FUTURE OF HIGHER EDUCATION 136 IRVING STREET CAMBRIDGE MA 02138 043333819 HIGHER EDUCATION RESEARCH MA 501(C)(3) LINE 7 AMERICAN ACADEMY OF ARTS AND SCIENCES 1 NORTON'S WOODS INC 136 IRVING STREET CAMBRIDGE MA 02138 043388917 EVENT SERVICES MA AMERICAN ACADEMY OF ARTS AND SCIENCES C 195893 1.00000 1 PERMANENT SCIENCE FUND TR UDECL BNY MELLON NA - PO BOX 185 PITTSBURGH PA 15230 046091592 TRUST MA AMERICAN ACADEMY OF ARTS AND SCIENCES T 120000 1.00000 1 0 0 0 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 FORUM FOR THE FUTURE OF HIGHER EDUCATION D 512328 FMV NORTON'S WOODS INC D 11608465 FMV NORTON'S WOODS INC N 684111 FMV PERMANENT SCIENCE FUND TR UDECL S 120000 FMV