2024-05-10T18:55:27-05:00 2023-06-30 366055558 GRANT THORNTON LLP 757 THIRD AVENUE 3RD FLOOR NEW YORK NY 100172013 990 2022-07-01 391711417 AFS-USA INC AFS- 2122999000 120 WALL STREET 4TH FL NEW YORK NY 10005 MICHELLE PINEDO CFO 6467512004 2024-05-10 1 MICHELLE PINEDO XXX-XX-XXXX 0 SCOTT THOMPSETT P00741490 2125990100 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z TARA HOFMANN 120 WALL STREET 4TH FL NEW YORK NY 10005 30149530 0 X WWW.AFSUSA.ORG X 1991 IL AFSUSA EMPOWERS PEOPLE TO BECOME GLOBALLY ENGAGED CITIZENS VIA INTERCULTURAL EXCHANGES. 17 17 158 2465 0 0 14397489 18232345 7414797 9488748 370797 244897 51891 170656 22234974 28136646 802721 1269976 0 0 8174061 9860867 0 0 1026111 12114464 15017328 21091246 26148171 1143728 1988475 16224004 24036047 5612745 11025378 10611259 13010669 X AFS-USA WORKS TOWARD A MORE JUST AND PEACEFUL WORLD BY PROVIDING INTERNATIONAL AND INTERCULTURAL LEARNING EXPERIENCES TO INDIVIDUALS, FAMILIES, SCHOOLS AND COMMUNITIES THROUGH A GLOBAL VOLUNTEER PARTNERSHIP. (CONTINUED IN SCHEDULE O)AFS-USA EMPOWERS PEOPLE TO BECOME GLOBALLY ENGAGED CITIZENS BY DELIVERING MEANINGFUL INTERCULTURAL EXPERIENCES THAT PROVIDE THE KNOWLEDGE AND SKILLS NEEDED TO HELP CREATE A MORE JUST AND PEACEFUL WORLD. AFS PROGRAMS FOSTER TRANSFORMATION THAT LASTS A LIFETIME. TODAY'S EXCHANGE STUDENTS ARE TOMORROW'S CHANGEMAKERS: DIPLOMATS; THOUGHT LEADERS; INFLUENCERS IN THE INTERNATIONAL BUSINESS AND NON-PROFIT COMMUNITIES. EVERY NEW EXCHANGE STUDENT IS ANOTHER GLOBAL CITIZEN IN PROGRESS --AN INDIVIDUAL PRIMED TO HELP BUILD A MORE JUST AND PEACEFUL WORLD. AND THE IMPACT DOESN'T STOP WITH THE STUDENTS. HOST FAMILIES' LIVES ARE TRANSFORMED BY NEW MEMBERS FROM ACROSS THE GLOBE AND HOST COMMUNITIES GAIN GREATER CULTURAL DIVERSITY. 0 0 22180076 1269976 9488748 AFS-USA PROMOTES INTERCULTURAL LEARNING THROUGH WORLDWIDE EXCHANGE PROGRAMS FOR STUDENTS AND PROFESSIONALS. IN DOING SO, IT RELIES ON VOLUNTEERS IN THE UNITED STATES TO BE HOST FAMILIES AND SUPPORT AFS PARTICIPANTS, AND ON THE AMERICAN SCHOOL SYSTEM TO PROVIDE EDUCATIONAL OPPORTUNITIES FOR PARTICIPANTS. AFS-USA SENT 378 PARTICIPANTS ABROAD IN FY23 (CONTINUED IN SCHEDULE O).FOR AMERICANS GOING ABROAD, AFS-USA OFFERS SCHOOL YEAR, SEMESTER, SUMMER AND A GROWING NUMBER OF SHORT OR CUSTOMIZED PROGRAMS. FROM THE PARTICIPANT FEES IT COLLECTS, AFS-USA PROVIDES SELECTION, ORIENTATION, INTERNATIONAL TRAVEL, AND LIAISON WITH AFS OFFICES ABROAD DURING THE PROGRAM. AFS-USA ALSO HOSTED PARTICIPANTS FROM OTHER COUNTRIES ON PROGRAMS OF VARYING LENGTHS, INCLUDING SCHOOL YEAR, SEMESTER OR PROGRAMS OF SHORTER DURATIONS. AFS-USA HOSTED 1,129 PARTICIPANTS FROM ABROAD IN FY23. IN HOSTING, IT COLLECTS A TRANSFER FEE FROM THE SENDING AFS ORGANIZATION AND PROVIDES SERVICES SUCH AS FINDING HOST FAMILIES, PROVIDING ORIENTATIONS, ARRANGING DOMESTIC TRAVEL, AND OFFERING COUNSELING SUPPORT DURING THE STAY. PARTICIPATING CHAPTERS ARE AFFILIATED COMMUNITY-BASED ORGANIZATIONS THAT MAY ENGAGE IN FUND-RAISING ACTIVITIES, SPONSOR STUDENTS GOING ABROAD, AND SUPPORT HOST FAMILIES AND HOSTED STUDENTS. 1610331 VOLUNTEER ACTIVITIES - AFS-USA HAS A NETWORK OF MORE THAN 2,465 U.S. VOLUNTEERS WHO SUPPORT INTERNATIONAL STUDENTS AND THEIR HOST FAMILIES, SUPPORT U.S. STUDENTS WHO WANT TO STUDY ABROAD AND THEIR FAMILIES AND WORK WITH EDUCATORS, COMMUNITY LEADERS AND OTHERS THROUGH ACTIVITIES IN HIGH SCHOOLS AND IN THE COMMUNITY. VOLUNTEERS INCREASE AWARENESS FOR AFS PROGRAMS AND THE NEED FOR AMERICANS TO SUPPORT INTERNATIONAL EDUCATION AND INTERCULTURAL LEARNING AS A WAY TO FULFILL THE AFS MISSION OF HELPING TO BUILD A MORE JUST AND PEACEFUL WORLD. 23790407 1 1 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 1 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 53 0 1 158 1 0 0 0 0 0 0 0 0 0 0 0 0 X 17 17 1 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 AR CA FL GA HI IL KS KY MD MA MI MN MS NH NJ NM NY NC OR PA RI SC TN UT VA WV WI X X MICHELLE PINEDO 6467512004 120 WALL STREET 4TH FLOOR NEW YORK NY 10005 WENDY KURAN - CHAIR (THRU 6/25/2023)/BOARD MEMBER 3.00 0.00 X X 0 0 0 BARBARA OLSON - VICE CHAIR (THRU 6/23/23)/CHAIR (AS OF 6/23/23) 3.00 0.00 X X 0 0 0 JANE RANSOM VICE CHAIR (AS OF 6/23/2023) 3.00 0.00 X X 0 0 0 SARAH YANCEY BOARD MEMBER 3.00 0.00 X 0 0 0 GISELE MARCUS SECRETARY (AS OF 6/23/2023) 3.00 0.00 X X 0 0 0 PATRICK MOON - SECRETARY (THRU 6/23/2023)/BOARD MEMBER 3.00 0.00 X X 0 0 0 PETER M ROBINSON TREASURER (AS OF 6/5/2023) 3.00 0.00 X X 0 0 0 ALAN WILLIAMS TREASURER (THRU 6/5/2023) 3.00 0.00 X X 0 0 0 CONNIE ASKIN BOARD MEMBER (AS OF 6/23/2023) 3.00 0.00 X 0 0 0 JOHN BACON BOARD MEMBER 3.00 0.00 X 0 0 0 MARI TREVINO GLASS BOARD MEMBER 3.00 0.00 X 0 0 0 ZENITH N HOUSTON BOARD MEMBER (THRU 5/3/2023) 3.00 0.00 X 0 0 0 SUSAN S MOON BOARD MEMBER (THRU 6/25/2023) 3.00 0.00 X 0 0 0 GREGORY SABIN BOARD MEMBER (AS OF 6/23/2023) 3.00 0.00 X 0 0 0 KELLY MCFARLAND STRATMAN BOARD MEMBER (AS OF 6/23/2023) 3.00 0.00 X 0 0 0 ANN SWEET BOARD MEMBER 3.00 0.00 X 0 0 0 KAREN TREBER BOARD MEMBER (AS OF 6/23/2023) 3.00 0.00 X 0 0 0 JAMES WALKER BOARD MEMBER 3.00 0.00 X 0 0 0 KEN WALLACE BOARD MEMBER (AS OF 6/23/2023) 3.00 0.00 X 0 0 0 CHRISTINA V WOOD BOARD MEMBER 3.00 0.00 X 0 0 0 TARA HOFMANN PRESIDENT & CEO 35.00 0.00 X 236392 0 51544 MICHELLE PINEDO EXECUTIVE VP / CFO 35.00 0.00 X 173534 0 29806 MARLENE BAKER VP, EXT RELATIONS/COMMUNICATIONS 35.00 0.00 X 179226 0 32289 KERI DOOLEY EXECUTIVE VP, GOV'T RELATIONS 35.00 0.00 X 183020 0 8991 MELVIN HARMON VP, MKTING, STDY ABD, PARTIC SPPT 35.00 0.00 X 148370 0 17349 ROBIN WEBER SR DIR RISK MGMT & QLTY ASSURANCE 35.00 0.00 X 113466 0 37736 ELISSA DISANTI DIRECTOR OF HUMAN RESOURCES 35.00 0.00 X 120406 0 19169 1154414 0 196884 10 0 1 0 GRANT THORNTON LLP 757 THIRD AVENUE NEW YORK NY 10017 AUDITING 139870 1 15294982 2937363 43162 18232345 HOSTING TRANSFER FEES 611710 5959555 5959555 PARTICIPANT FEES 611710 3529193 3529193 9488748 139633 139633 2110865 2005601 105264 105264 105264 4019 7283 -3264 -3264 RENT FORGIVENESS 900099 145558 145558 MISCELLANEOUS REVENUE 900099 28362 28362 173920 28136646 9488748 0 415553 323313 323313 946663 946663 528990 446150 48016 34824 7371941 6217495 669138 485308 302852 269251 15833 17768 1014269 898465 55784 60020 642815 572515 33514 36786 27684 27684 160840 160840 30600 30600 38500 38500 957352 788667 168685 375392 363220 12172 377081 236711 2114 138256 209330 170417 19515 19398 543172 521591 14697 6884 1149875 1114267 23770 11838 49577 47364 1625 588 143848 143848 15493 15493 PARTICIPANT-RELATED EXP 6530819 6530819 HOSTING TRANSFER FEES 3664393 3664393 EQUIP PURCH/RENTAL/MAIN 318835 291563 13700 13572 PRINTING & PUBLICATIONS 144360 140066 189 4105 280177 216877 47393 15907 26148171 23790407 1331653 1026111 4090088 4644726 2148218 1544160 3955369 6730188 118494 9433 28481 63212 530136 365480 3997721 3017988 281203 979733 4216991 4664869 855024 5034246 16224004 24036047 3465932 3182548 2123730 2695896 23083 5146934 5612745 11025378 X 4892308 6408434 5718951 6602235 10611259 13010669 16224004 24036047 X 1988475 351536 59399 X 0 1 X 1 1 1 X 13928627 13147420 12967688 14397489 18232345 72673569 19877358 17999703 1234786 7414797 9488748 56015392 33805985 31147123 14202474 21812286 27721093 128688961 104852 49568 35465 42420 26551 258856 0 104852 49568 35465 42420 26551 258856 128430105 195000 715805 668450 156658 139633 1875546 195000 715805 668450 156658 139633 1875546 39748 29081 51941 52653 177939 351362 34040733 31892009 14922865 22021597 28038665 130915869 0.98100 0.98010 0.01430 0.01380 X SCHEDULE A, PART III, LINE 12, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REVENUE - 2018 AMOUNT: $ 29,101. 2019 AMOUNT: $ 25,790. 2020 AMOUNT: $ 50,960. 2021 AMOUNT: $ 50,324. 2022 AMOUNT: $ 173,920. GROSS SALES OF INVENTORY - 2018 AMOUNT: $ 10,647. 2019 AMOUNT: $ 3,291. 2020 AMOUNT: $ 981. 2021 AMOUNT: $ 2,329. 2022 AMOUNT: $ 4,019. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 30600 30600 26117571 26148171 1000000 250000 0 0 1000000 1000000 1000000 1000000 4000000 6000000 31100 30600 30600 30600 122900 250000 205124 250000 250000 955124 1432686 4050837 20800 522891 139839 4454689 5395834 17353 -425962 17725 918663 4050837 6489198 170052 1004689 27183 2240922 5395834 6119243 59627 598848 230689 57831 6489198 6448317 65236 -231363 124295 38652 6119243 0.01000 0.47000 0.52000 0 0 925138 186244 738894 2272094 2050460 221634 800489 781284 19205 979733 RIGHT OF USE ASSET 4119822 BENEFICIAL INTEREST IN PERPETUAL TRUST 914424 5034246 LEASE LIABILITY-OPERATING LEASE 5123717 POSTRETIREMENT BENEFIT LIABILITIES 23217 5146934 X 28467659 351536 430019 66683 848238 27619421 38500 478725 517225 28136646 26068248 430019 7283 437302 25630946 38500 478725 517225 26148171 PART V, LINE 4: ENDOWMENT FUND THE PURPOSE OF AFS-USA'S ENDOWMENT FUND IS PRIMARILY TO PROVIDE SUPPORT FOR THE ORGANIZATION'S SENDING AND HOSTING PROGRAMS. THE BOARD OF DIRECTORS HAS APPROVED AN ANNUAL SPENDING RATE OF 3% OF THE PERMANENTLY RESTRICTED ENDOWMENT BALANCE. IN ADDITION, THE BOARD OF DIRECTORS MAY APPROVE ADDITIONAL APPROPRIATIONS ABOVE THE 3% SPENDING RATE WHEN DEEMED NECESSARY. THE BOARD-DESIGNATED FUND IS MADE UP OF NUMEROUS BEQUESTS RECEIVED WITHOUT DONOR RESTRICTIONS, AS WELL AS SOME DEFUNCT CHAPTER PROCEEDS. IN FISCAL 2023, THE BOARD OF DIRECTORS OF AFS-USA APPROVED A RESOLUTION AUTHORIZING THE PRESIDENT OF AFS-USA TO DIRECT AND DECIDE THE TIMING AND SPECIFIC USES OF THE ENDOWMENT FUNDS IN SUPPORT OF AFS-USA'S HIGH SCHOOL STUDENT EXCHANGE PROGRAMS BUT REQUIRED THE PRESIDENT TO REPORT SUCH DESIGNATIONS AND RELATED EXPENDITURES TO THE BOARD OF DIRECTORS. PART X, LINE 2: LIABILITY FOR UNCERTAIN TAX POSITION THE AFS-USA 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. THE AFS-USA IS EXEMPT FROM FEDERAL INCOME TAX UNDER 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 CODE. THE AFS-USA HAS PROCESSES PRESENTLY IN PLACE TO ENSURE THE MAINTENANCE OF ITS TAX-EXEMPT STATUS; TO IDENTIFY AND REPORT UNRELATED BUSINESS 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. THE AFS-USA HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. IN ADDITION, THE AFS-USA HAS NOT RECORDED A PROVISION FOR INCOME TAXES AS IT HAS NO MATERIAL TAX LIABILITY FROM UNRELATED BUSINESS INCOME ACTIVITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUST 59,400. RECLASS OF COST OF GOODS SOLD 7,283. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASS OF SCHOLARSHIP EXPENSE 478,725. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASS OF COST OF GOODS SOLD 7,283. PART XII, LINE 4B - OTHER ADJUSTMENTS: RECLASS OF SCHOLARSHIP EXPENSE 478,725. PART IX, RIGHT-OF-USE ASSETS: THE FINANCIAL ACCOUNTING STANDARDS BOARD ("FASB") IMPLEMENTED A NEW LEASE ACCOUNTING STANDARD THAT BECAME EFFECTIVE FOR AFS-USA, INC. IN THE YEAR ENDING JUNE 30, 2023. THIS ACCOUNTING STANDARD WAS EFFECTUATED TO IMPROVE THE TRANSPARENCY SURROUNDING KEY INFORMATION PERTAINING TO AN EXEMPT ORGANIZATION'S LEASING ARRANGEMENTS (AND TO ENSURE THAT ALL ORGANIZATIONS WERE RECORDING THE TRANSACTIONS UNIFORMLY ON THEIR BALANCE SHEETS). CENTRAL AMERICA AND THE CARIBBEAN 1 3 PROGRAM SERVICES TRANSFER FEES 18024 EAST ASIA AND THE PACIFIC 6 353 PROGRAM SERVICES TRANSFER FEES 1602423 EUROPE (INCLUDING ICELAND & GREENLAND) 19 84 PROGRAM SERVICES TRANSFER FEES 797526 MIDDLE EAST AND NORTH AFRICA 1 33 PROGRAM SERVICES TRANSFER FEES 365977 RUSSIA AND NEIGHBORING STATES 1 1 PROGRAM SERVICES TRANSFER FEES 19305 SOUTH AMERICA 3 13 PROGRAM SERVICES TRANSFER FEES 99266 SOUTH ASIA 1 77 PROGRAM SERVICES TRANSFER FEES 246085 SUB-SAHARAN AFRICA 4 124 PROGRAM SERVICES TRANSFER FEES 515788 36 688 0 0 36 688 3664394 0 3664394 0 0 0 0 0 0 PART III ACCOUNTING METHOD: 1 IOWA RESOURCE FOR INTERNATIONAL SERVICE 600 FIFTH STREET SUITE 301 AMES IA 50010 421394408 501(C)(3) 323313 0 NETWORK PARTNER 1 SCHOLARSHIPS 154 478725 STIPENDS 3294 467938 PART I, LINE 2: SCHOLARSHIPS AND STIPENDS AFS-USA, INC. AWARDS HOSTING SCHOLARSHIPS TO ITS NETWORK PARTNERS, GENERALLY BASED ON DONOR STIPULATIONS. IN FISCAL 2023, AFS-USA SUPPORTED ONE NETWORK PARTNER, THE IOWA RESOURCE FOR INTERNATIONAL SERVICE (IRIS), WHOSE MISSION IS TO PROMOTE INTERNATIONAL UNDERSTANDING, DEVELOPMENT, AND PEACE BY CONNECTING IOWA TO THE WORLD. AFS-USA, INC. CLOSELY MANAGES IRIS' PROGRAM. AFS-USA, INC. MONITORS GRANTEE EXPENSES TO ENSURE THAT THEY ARE ALLOWABLE UNDER A-122 GUIDELINES. IN ADDITION, ALL GRANTEES MUST PROVIDE SIGNED CERTIFICATIONS THAT THE EXPENSES ARE TRUE AND CONFORM TO DONOR CONDITIONS. IN ADDITION, AFS-USA, INC. CLOSELY MANAGES ITS SUB-AWARDEES' PROGRAM ACTIVITIES BY HOLDING WEEKLY MEETINGS AND BY CONDUCTING ANNUAL SITE VISITS. THE PURPOSE OF THE SITE VISITS IS FOR AFS-USA, INC. PROGRAM DIRECTORS TO: (1) MEET A MINIMUM OF 20% OF THE SUB-AWARDEES' PROGRAM PARTICIPANTS, AND (2) MEET WITH SUB-AWARDEE STAFF AND LOCAL COORDINATORS TO DISCUSS PROGRAMMATIC OR FINANCIAL ISSUES THAT MAY ARISE DURING PROGRAM DELIVERY. FINALLY, WE CONDUCT THOROUGH REVIEWS OF SUB-GRANTEE BUDGETS AND BUDGET NARRATIVES AND ENSURE THAT ALL SUB-GRANTEE BILLINGS ARE REASONABLE AND WELL DOCUMENTED. SCHOLARSHIPS - AFS-USA, INC. AWARDS SCHOLARSHIPS IN THE FORM OF FEE REDUCTIONS TO PARTICIPANTS IN AFS PROGRAMS. THERE IS GENERALLY NO DIRECT MONETARY AWARD TO THE PARTICIPANT SO THERE IS NO NEED TO MONITOR USE OF THE FUNDS. STIPENDS - IN ADDITION TO SCHOLARSHIPS AFS-USA, INC. ALSO PROVIDES ASSISTANCE IN THE FORM OF MONTHLY STIPENDS TO PARTICIPANTS IN CERTAIN GOVERNMENT GRANT FUNDED PROGRAMS. THESE STIPENDS WHICH ARE STIPULATED AS PART OF THE GOVERNMENT GRANT AWARD ARE INTENDED TO HELP THE PARTICIPANTS DEFRAY DAY-TO-DAY EXPENSES WHILE PARTICIPATING IN THE PROGRAM. X X X 0 0 0 0 0 0 0 0 0 TARA HOFMANN PRESIDENT & CEO 234069 0 0 0 2323 0 18696 0 32848 0 287936 0 0 0 MARLENE BAKER VP, EXT RELATIONS/COMMUNICATIONS 174364 0 0 0 4862 0 14028 0 18261 0 211515 0 0 0 MICHELLE PINEDO EXECUTIVE VP / CFO 171941 0 0 0 1593 0 11159 0 18647 0 203340 0 0 0 KERI DOOLEY EXECUTIVE VP, GOV'T RELATIONS 182140 0 0 0 880 0 8252 0 739 0 192011 0 0 0 MELVIN HARMON VP, MKTING, STDY ABD, PARTIC SPPT 146331 0 0 0 2039 0 0 0 17349 0 165719 0 0 0 ROBIN WEBER SR DIR RISK MGMT & QLTY ASSURANCE 112439 0 0 0 1027 0 9200 0 28536 0 151202 0 0 0 X 14 40762 MARKET VALUE X SOFTW LICEN. 1 2400 FMV 0 1 1 PART I, COLUMN (B): AFS-USA, INC. IS REPORTING THE NUMBER OF CONTRIBUTIONS RECEIVED. PART I, LINE 32B: AFS-USA'S INVESTMENT BROKER, CHARLES SCHWAB, PROCESSES AND SELLS DONATIONS OF STOCK RECEIVED BY AFS-USA, INC. FORM 990, PART VI, SECTION A, LINE 2 BOARD MEMBERS, PATRICK MOON AND SUSAN S. MOON HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION B, LINE 11B 990 REVIEW PROCESS THE ORGANIZATION'S FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. ONCE THE DRAFT OF THE 990 HAS BEEN VETTED AND APPROVED BY RESPONSIBLE STAFF MEMBERS, IT IS REVIEWED BY MEMBERS OF THE AUDIT AND FINANCE COMMITTEES OF THE BOARD. ANY REQUIRED UPDATES ARE MADE PRIOR TO FILING THE RETURN. THE FINAL VERSION OF THE IRS FORM 990 AND SUPPORTING SCHEDULES ARE DISTRIBUTED TO EACH MEMBER OF THE AFS-USA'S BOARD OF DIRECTORS PRIOR TO FILING WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY MONITORING AND ENFORCEMENT THE BOARD AUDIT COMMITTEE RECEIVES A SIGNED CONFLICT OF INTEREST STATEMENT FROM EACH BOARD MEMBER AND KEY EMPLOYEE ANNUALLY. THESE FORMS ARE THEN REVIEWED BY THE AUDIT COMMITTEE. IF THE COMMITTEE DEEMS THAT A POTENTIAL CONFLICT EXISTS, THE MATTER IS REFERRED TO THE FULL BOARD. IF THE BOARD DETERMINES THAT THERE IS A BONA FIDE CONFLICT, THE CONFLICTED PARTY MUST BE RECUSED FROM ANY DISCUSSION AND/OR VOTE ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 PROCESS OF DETERMINING COMPENSATION THE ORGANIZATION HAS INSTITUTED A PROCESS TO REVIEW THE COMPENSATION PAID TO ITS OFFICERS AND KEY EMPLOYEES AND FOLLOWS THE REBUTTABLE PRESUMPTION RULES OF TREAS REG 53.4958-6. THE ORGANIZATION'S POLICY IS TO CONDUCT A BIANNUAL ANALYSIS OF LIKE POSITIONS AT COMPARABLE ORGANIZATIONS. SUCH INFORMATION IS CONSIDERED WHEN DETERMINING THE COMPENSATION FOR THOSE STAFF MEMBERS THAT HAVE BEEN IDENTIFIED AS DISQUALIFIED PERSONS. THE COMPENSATION FOR THE PRESIDENT IS DETERMINED IN ACCORDANCE WITH RECOMMENDATIONS OF THE COMPENSATION CONSULTING FIRM HIRED BY THE ORGANIZATION AND IS APPROVED BY THE BOARD OF DIRECTORS IN EXECUTIVE SESSION. THE COMPENSATION OF THE CFO IS ALSO DETERMINED IN ACCORDANCE WITH THE RECOMMENDATIONS OF THE COMPENSATION CONSULTING FIRM AND IS APPROVED BY THE PRESIDENT. RECOMMENDED COMPENSATION OF ALL OTHER KEY EMPLOYEES IS APPROVED BY THE PRESIDENT. CONTEMPORANEOUS RECORDS OF COMPENSATION DETERMINATIONS ARE RECORDED IN THE ONLINE HR SYSTEM AND PLACED IN THE INDIVIDUAL STAFF MEMBER'S HR FILE. THE HIRING MANAGER PROPOSES THE SALARY FOR ALL NEW HIRES IN ACCORDANCE WITH THE SALARY GRADE AND RANGE FOR THE POSITION. ALL SALARIES ARE THEN APPROVED BY THE HR DIRECTOR AND THE CFO. FORM 990, PART VI, SECTION C, LINE 19 AVAILABILITY OF DOCUMENTS TO THE PUBLIC AFS-USA PUBLISHES ITS GOVERNING DOCUMENTS, ANNUAL AUDIT REPORT, FORM 990, ANNUAL REPORT, AND 501(C)(3) DESIGNATION ON ITS WEBSITE. THE CONFLICT OF INTEREST POLICY IS NOT MADE AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 24A: PARTICIPANT-RELATED EXPENSES PARTICIPANT-RELATED EXPENSES ARE COMPRISED OF: TRAVEL AND ORIENTATION EXPENSES OF $3,889,067; TUITION COSTS OF $287,320; NETWORK MANAGEMENT FEES OF $473,711; INSURANCE OF $1,163,780. THE REMAINING BALANCE CONSISTS OF A VARIETY OF SMALLER MISCELLANEOUS EXPENSES. FORM 990, PART XI, LINE 9: CHANGE IN BENEFICIAL INTEREST IN PERPETUAL TRUST 59,399.