2018-02-13T07:15:28-06:00 2017-06-30 420714325 RSM US LLP 9737 Washingtonian Blvd 400 Gaithersburg MD 20878 990 2016-07-01 530196577 THE BROOKINGS INSTITUTION BROO 2027976000 1775 MASSACHUSETTS AVE NW WASHINGTON DC 200362103 David Porter Associate V.P., Controller 2027976000 2018-02-09 1 WILLIAM E TURCO CPA P00369217 3012963600 66.98.98.5 2018-02-09 10:13:55 ES P B807BA4C69A73CA6C24C1450FD5847F62F078646 C19F5D3F195EC13517A150B69ABBCB37DF598FBC 2016 2021-01-29 14:40:06Z JOHN R ALLEN 1775 MASSACHUSETTS AVE NW WASHINGTON DC 200362103 237695617 0 X www.brookings.edu X 1939 DC To conduct in-depth research that leads to new ideas for solving problems facing society at the local, national and global level. 59 59 620 55 -448051 -453399 90539102 96843646 0 419585 14841136 12026980 4014191 3604355 109394429 112894566 577114 723614 0 0 59593205 59278453 0 7875 3597713 44464967 40049370 104635286 100059312 4759143 12835254 474414925 525211269 60127788 58729261 414287137 466482008 X See Schedule O 1 0 15335530 137833 389344 Foreign Policy Studies:The Foreign Policy program's research informs academics, policymakers, the public, and other stakeholders to help address the great challenges facing the United States and the international community in the 21st century. The Foreign Policy program aims to strengthen America's foreign and national security policies, enlighten the public policy debate, and help guide the emerging international order towards peace, security and human progress. In the past year, Foreign Policy experts examined a wide range of topics including the state of the global order; U.S.-Russia relations and transatlantic ties; the North Korea nuclear issue; U.S. defense; Chinese politics and economics; the war in Syria and refugees; energy and climate; developments in democracy and security in Latin America and Africa; and more. In addition to publishing numerous works of scholarship in FY2017, scholars in the Foreign Policy program provided congressional testimony and presided over more than 250 public and private events. 15942428 Economic Studies:The Economic Studies program analyzes current and emerging economic policy issues in the United States and worldwide. Its research aims to increase the public's understanding of how the economy works and what can be done to make it work better. In the past year, Economic Studies experts examined the federal budget deficit and the rising national debt, and commented on such diverse issues as the labor market and job creation, fiscal and monetary policy, and the role of education and opportunity in economic mobility. Economic Studies also produces the Brookings Papers on Economic Activity, the leading source of policy-oriented, empirical research on macroeconomics. In addition to publishing numerous works of scholarship in FY2017, Economic Studies held over 170 events both public and private, and scholars also spoke at 132 external events, wrote 509 op-eds and blogs, produced 164 papers and briefs, published 1 book, testified on Capitol Hill 5 times, and were cited or interviewed in media stories. Work by ES scholars was also cited 27 times in the most recent Economic Report of the President. 12104695 190000 26762 Global Economy and Development:The global economy and development program examines the opportunities and challenges presented by globalization, which continues to be a central concern for international policymakers, business leaders, the media and civil society. Global economy and development experts address the issues surrounding globalization within two key areas: strengthening the drivers of sustainable growth and leaving no one behind. In the past year, Global experts have provided analysis and recommendations to foster global economic cooperation, improve pathways out of poverty, and help deal with the technological transformation of the world economy, with a special focus on productivity, education, new skills, inclusiveness, and sustainability. In addition to publishing numerous works of scholarship in FY 2017, Global Economy and Development held numerous events open to the general public. 8170202 3479 Metropolitan Policy:The Metropolitan Policy Program delivers research and solutions that help metropolitan leaders build an advanced economy that works for all. In order to create an advanced economy that works for all, metropolitan areas must implement policies that (1) maximize workers' potential, (2) fuel advanced industries, (3) engage the global marketplace, and (4) support infrastructure that protects the environment, facilitates economic activity, and improves access to opportunity. 7327335 4167 Governance Studies:The Governance Studies program brings together people interested in improving the performance of our national government and bettering the economic security, social welfare, and opportunity available to all Americans. In the past year, Governance Studies experts examined partisan politics and its effects on government, the procedure and politics behind health care reform and other major legislative debates, and fissures in the American economy and civic society. They commented on other timely topics, such as the presidential election and transition, congressional primaries, the Supreme Court nomination and confirmation process, legislative and judicial checks on presidential power, the U.S. education system, criminal justice reform, and the use of online tools and information technology to increase government efficiency. In addition to publishing numerous works of scholarship in FY 2017, Governance Studies held 32 events open to the general public. 9529602 391614 Institutional Initiatives:Includes research initiatives undertaken or supervised by the executive office and all cross-program research efforts (e.g. Brookings Office of the Centennial Scholar and The Rubenstein Fellowships). It also includes expenses associated with partnerships with two universities: The Brookings Mountain West program with the University of Nevada Las Vegas, and The Brookings' Executive Education program, a partnership with Washington University in St. Louis. Other research includes the work of Brookings' three overseas centers based in Beijing, Doha, and New Delhi, and an initiative to incentivize collaboration between scholars in Washington and the Overseas Centers. 2157439 Communications and Web:The communications department disseminates information about Brookings, its scholars and research, and the array of resources that Brookings offers. Communications oversees the commentary and analysis that appear on the Brookings' website (www.brookings.edu) and that are distributed through Brookings's social media channels and other digital components of outreach and education. The department supports the research programs by providing video, graphic design and other multimedia services, and interacts with media for the purposes of arranging interviews and republishing content. It also houses the organization's publishing house, Brookings Institution Press. 1924088 1724448 Brookings press:The Brookings Press publishes public policy research from Brookings' own scholars as well as other authors. These publications provide extensive background and insight on important public policy issues in business, economics, government and international affairs. 29108666 395781 1727927 72491319 1 1 0 0 0 1 0 1 0 1 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 0 0 0 1 X 465 0 1 620 1 1 0 1 QA IN 0 0 0 0 0 0 0 0 X 59 59 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AR CA CT FL GA HI IL KS KY MA MD ME MI MS MN NC NJ NH NM NY OR PA RI SC TN UT VA WI WV X Irena Barisic & Elizabeth Gross 2027976000 1775 MASSACHUSETTS AVE NW WASHINGTON DC 200362103 David M Rubenstein Co-Chair of the Board 4.00 X X 0 0 0 John L Thornton Co-Chair of the Board 4.00 X X 0 0 0 Glenn H Hutchins Vice Chair, Board/Campaign Chair 3.50 X X 0 0 0 Suzanne Nora Johnson Vice Chair, Board/Investment Committee Chair 3.50 X X 0 0 0 Abby Joseph Cohen Vice Chair of Nominations and Governance Committee 3.00 X 0 0 0 Arthur R Collins Chair, Development Committee 3.00 X 0 0 0 Bart Friedman Chair, Audit Committee 3.00 X 0 0 0 Pete Higgins Chair, Impact Task Force 3.50 X 0 0 0 Benjamin R Jacobs Chair Finance/Chair Strategic 3.00 X 0 0 0 Tracy R Wolstencroft Chair, Nominations & Governance Committee 3.00 X 0 0 0 Robert J Abernethy Trustee 2.00 X 0 0 0 Paul M Achleitner Trustee 2.00 X 0 0 0 Dominic Barton Trustee 2.00 X 0 0 0 Robert M Bass Trustee 2.00 X 0 0 0 Alan R Batkin Trustee 2.00 X 0 0 0 Crandall Bowles Trustee 2.00 X 0 0 0 Hanzade Dogan Boyner Trustee 2.00 X 0 0 0 Paul L Cejas Trustee 2.00 X 0 0 0 W Edmund Clark Trustee 2.00 X 0 0 0 Betsy Z Cohen Trustee 2.00 X 0 0 0 Howard Cox Trustee 2.00 X 0 0 0 Susan Crown Trustee 2.00 X 0 0 0 Arthur B Culvahouse Jr Trustee 2.00 X 0 0 0 Jason Cummins Trustee 2.00 X 0 0 0 Alan M Dachs Trustee 2.00 X 0 0 0 Feng Deng Trustee 2.00 X 0 0 0 Paul Desmarais Jr Trustee 2.00 X 0 0 0 Kenneth M Duberstein Trustee 2.00 X 0 0 0 Cheryl Cohen Effron Trustee 2.00 X 0 0 0 Alfonso Fanjul Trustee 2.00 X 0 0 0 Ellen V Futter Trustee 2.00 X 0 0 0 Helene Gayle Trustee 2.00 X 0 0 0 Brian L Greenspun Trustee 2.00 X 0 0 0 Victor L Hymes Trustee 2.00 X 0 0 0 Kenneth M Jacobs Trustee 2.00 X 0 0 0 Philip M Knight Trustee 2.00 X 0 0 0 Sara Grootwassink Lewis Trustee 2.00 X 0 0 0 Cathy Minehan Trustee 2.00 X 0 0 0 Aditya Mittal Trustee 2.00 X 0 0 0 James Murren Trustee 2.00 X 0 0 0 Laxman Narasimhan Trustee 2.00 X 0 0 0 Brian Rogers Trustee 2.00 X 0 0 0 Nicole Pullen Ross Trustee 2.00 X 0 0 0 James Rogers Trustee 2.00 X 0 0 0 Wilbur Ross Trustee until 12/2016 2.00 X 0 0 0 Victoria P Sant Trustee 2.00 X 0 0 0 Leonard D Schaeffer Trustee 2.00 X 0 0 0 Peter Scher Trustee 2.00 X 0 0 0 Neil Shen Trustee 2.00 X 0 0 0 Arne M Sorenson Trustee 2.00 X 0 0 0 Krishen Sud Trustee 2.00 X 0 0 0 Michael L Tipsord Trustee 2.00 X 0 0 0 Andrew Tisch Trustee 2.00 X 0 0 0 Ercument Tokat Trustee 2.00 X 0 0 0 Antoine W van Agtmael Trustee 2.00 X 0 0 0 David Weinberg Trustee 2.00 X 0 0 0 Beatrice W Welters Trustee 2.00 X 0 0 0 John H White Jr Trustee 2.00 X 0 0 0 Daniel Yergin Trustee 2.00 X 0 0 0 Daniel B Zwirn Trustee 2.00 X 0 0 0 N Strobe Talbott President 40.00 X 648311 0 220193 Martin S Indyk Executive Vice President 40.00 X 408946 0 67421 Kimberly Churches Secretary until 05/2017 40.00 X 334260 0 47547 Steven J Bennett Secretary from 06/2017, VP & COO 40.00 X 332286 0 37975 Stewart Uretsky VP, CFO, & Treasurer until 09/2016 40.00 X 260626 0 46301 Irena Barisic VP, CFO, & Treasurer from 03/2017 40.00 X 214882 0 26554 David Porter Assoc. VP, Controller & Asst. Treas. 40.00 X 214423 0 53545 Amanda Mays Assistant Secretary until 01/2017) 40.00 X 83536 0 17217 Elizabeth Gross Assistant Secretary from 06/2017 40.00 X 0 0 0 Ted Gayer VP & Director of Economic Studies 40.00 X 388843 0 44588 Kemal Dervis VP & Director of Global 40.00 X 332202 0 38271 Darrell M West VP & Director of Governance Studies 40.00 X 325692 0 57906 Catherine A Piez Chief Investment Officer 40.00 X 305004 0 52203 Bruce Jones VP & Director, Foreign Policy 40.00 X 297209 0 35452 Amy Liu Witmer VP & Director, Metropolitan Policy 40.00 X 286024 0 34198 William J Gale Sr Fellow & Director, Tax Policy Center (ES) 40.00 X 421321 0 49452 Bruce J Katz Centennial Scholar 40.00 X 380647 0 59628 Diane Schanzenbach Sr Fellow & Director, The Hamilton Project 40.00 X 357225 0 31800 David Wessel Sr Fellow & Director, The Hutchins Center 40.00 X 283467 0 52826 Grover Whitehurst Sr Fellow & Brown Center Director 40.00 X 275188 0 31800 6150092 0 1004877 169 0 1 0 Sodexo Inc & Affiliates PO Box 536922 Atlanta GA 303536922 Food services & Cafeteria & facilities m 1306660 Alley Interactive LLC 1140 Broadway Suite 1001 New York NY 10001 Digital Publishing, Designers, Researche 1026942 Global Fairness Initiative 2122 P Street NW Suite 302 Washington DC 20037 Non-profit-Provide Solutions for a Globa 896474 CDW Direct LLC PO Box 75723 chicago IL 606755723 IT/Computer Hardware, Software & Maint. 882027 Accenture LLP PO Box 70629 chicago IL 60673 Global Mgmt, Consulting & Technology Svc 845006 52 839245 96004401 481100 96843646 Research 900099 419585 419585 419585 3726411 -456295 4182706 556254 340805 215449 215449 215449 132146318 1641 123847390 0 8298928 1641 8300569 8300569 1724448 612856 1111592 1103348 8244 Cafeteria Income 900099 2167186 2167186 Other income 900099 110128 110128 2277314 112894566 1522933 -448051 14976038 X 332000 332000 391614 391614 5008949 1934962 2464332 609655 36341721 28190074 7187882 963765 4439718 57400 4382318 10424366 14219859 -4478773 683280 3063699 3063699 132191 34825 97366 219914 38352 181562 7875 7875 2360454 2360454 12281305 10034368 2181542 65395 429561 390617 2725 36219 1770976 954711 743372 72893 2908453 1702055 1152561 53837 2899163 7070298 -4492427 321292 2976522 2571881 200894 203747 728 728 2464788 2125286 -197371 536873 1189007 1189007 4978233 347939 4630294 361172 14669 346503 Other direct costs 3207702 956135 2219146 32421 Publishing 1007255 990132 7701 9422 Repair/Maintenance 489871 41099 447733 1039 Bad Debt 343649 92315 251334 28426 28426 100059312 72491319 23970280 3597713 17416654 20812912 30205702 29612697 81210179 94966119 643875 1897545 222366 255785 1447357 1766825 84957713 50033377 37315449 34924336 62815691 71426597 240455332 268282217 2682320 1266236 474414925 525211269 8675895 7826011 79160 230902 47620104 46882619 3752629 3789729 60127788 58729261 X 192251524 217934397 137764888 159854775 84270725 88692836 414287137 466482008 474414925 525211269 X 12835254 38834851 524766 X 0 1 X 1 1 1 X 80276594 89488748 76694383 90539102 96843646 433842473 80276594 89488748 76694383 90539102 96843646 433842473 24641353 409201120 7056159 3244431 14398796 3589797 4282665 32571848 2141934 2039560 2466504 2499517 2277314 11424829 477839150 8047449 0.85640 0.89450 X Schedule A, Part II, Line 10, Explanation of Other Income: cafeteria - 2012 Amount: $ 2,081,207. 2013 Amount: $ 1,993,592. 2014 Amount: $ 2,280,852. 2015 Amount: $ 2,332,134. 2016 Amount: $ 2,167,186. Other income - 2012 Amount: $ 60,727. 2013 Amount: $ 45,968. 2014 Amount: $ 185,652. 2015 Amount: $ 167,383. 2016 Amount: $ 110,128. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 3 1100000 852695 1 1 224418 X 0 417895359 18324115 48993345 15341592 1348569 468522658 425725267 7474568 961390 15098080 1167786 417895359 441281539 66444006 11159614 92011199 1148693 425725267 404469002 6136117 45195854 13463737 1055697 441281539 381988094 3773990 32490567 12995750 787899 404469002 0.46950 0.18930 0.34120 0 0 4155620 4155620 53573730 29054513 24519217 21294396 15854918 5439478 5933967 5123946 810021 34924336 268282217 F 268282217 Accrued post-retirement benefit obligation 1421000 Deferred rent expense payable 1102080 Deferred compensation 1266649 3789729 X 149797391 38834851 171850 39006701 110790690 2716732 -612856 2103876 112894566 97985321 642741 642741 97342580 2716732 2716732 100059312 Part III, Line 4: Brookings photography collection was donated to enhance the facilities where Brookings scholars meet with other key people in the public policy world. This contributes to an atmosphere that promotes conversation and interaction. Addition is the portrait painting of Brookings current president. Part V, Line 4: BROOKINGS CAREFULLY BALANCES ITS FUNDING TO RESPOND TO CURRENT POLICY ISSUES AS WELL AS UNDERTAKE LONG-TERM RESEARCH PROJECTS. AS NEW CHALLENGES EMERGE, THE ENDOWMENT IS USED TO MAKE NEW RESEARCH PROJECTS POSSIBLE, SUPPORTING CORE ADMINISTRATIVE COSTS, AS WELL AS, SCHOLAR-DRIVEN RESEARCH. Part X, Line 2: Brookings is exempt from federal income taxes on its exempt activities under Section 501(c)(3) of the Internal Revenue Code (the Code) and has been designated by the Internal Revenue Service as a publicly supported organization under Section 509(a)(1) of the Code. Brookings engages in certain activities that produce unrelated business income, as defined by federal income tax regulations. When tax returns are filed, it is highly certain that some positions taken would be sustained upon examination by the taxing authorities, while others are subject to uncertainty about the merits of the position taken or the amount of the position that would be ultimately sustained. The benefit of a tax position is recognized in the financial statements in the period during which, based on all available evidence, management believes it is more likely than not that the position will be sustained upon examination, including the resolution of appeals or litigation processes, if any. Tax positions taken are not offset or aggregated with other positions. Tax positions that meet the more likely than not recognition threshold are measured as the largest amount of tax benefit that is more than 50% likely of being realized upon settlement with the applicable taxing authority. The portion of the benefits associated with tax positions taken that exceeds the amount measured as described above is reflected as a liability for unrecognized tax benefits in the accompanying balance sheet, along with any associated interest and penalties that would be payable to the taxing authorities upon examination. Brookings files income tax returns in the U.S. federal jurisdiction. As of June 30, 2017, and for the year then ended, there were no material unrecognized/derecognized tax benefits or tax penalties or interest. Generally, Brookings is no longer subject to U.S. federal income tax examinations by tax authorities for years before 2013. Part XI, Line 2d - Other Adjustments: Gain/(loss) on foreign currency exchange 171,850. Part XI, Line 4b - Other Adjustments: Cost of goods sold reported on line 10b -612,856. Part XII, Line 2d - Other Adjustments: Affiliate expenses included on the consolidated financial statement 29,885. Cost of goods sold reported on line 10b 612,856. 1 East Asia and the Pacific 1 6 Program Services, Fundraising Activities, Maintaining Offices Public policy research 397177 Middle East and North Africa 1 13 Program Services, Fundraising Activities, Maintaining Offices Public policy research 3375582 South Asia 1 18 Program Services, Fundraising Activities, Maintaining Offices Public Policy Research 1155383 East Asia and the Pacific 0 0 Grant to recipients located in region 171727 Middle East and North Africa 0 0 Grant to recipients located in region 219887 3 37 0 0 3 37 5319756 0 5319756 East Asia and the Pacific Program services 171727 Wire Transfer 1 Program Assistance Middle East and North Africa 6 108300 Check or wire 111587 Housing Allowance book 1 0 1 0 1 1 Part I, Line 2: The Brookings Institution maintains records of how grant funds are used and verifies through regular reports and communications that grants are used in a way consistent with their original purpose. 1 Fellowship Stipends 12 332000 Part I, Line 2: Brookings does not issue grants to other organizations. Brookings does issue fellowship stipends to individuals. These disbursements are monitored as the individuals are generally residents at Brookings and their work is supervised by their Brookings advisor. X X X X X 0 1 0 0 0 0 0 1 0 N Strobe Talbott President 583416 0 40530 0 24365 0 197600 0 23455 0 869366 0 0 0 Martin S Indyk Executive Vice President 387041 0 20000 0 1905 0 47498 0 23506 0 479950 0 0 0 Kimberly Churches Secretary until 05/2017 318035 0 16000 0 225 0 38729 0 12620 0 385609 0 0 0 Steven J Bennett Secretary from 06/2017, VP & COO 316561 0 15500 0 225 0 37975 0 862 0 371123 0 0 0 Stewart Uretsky VP, CFO, & Treasurer until 09/2016 244457 0 16000 0 169 0 27987 0 20965 0 309578 0 0 0 Irena Barisic VP, CFO, & Treasurer from 03/2017 208747 0 6000 0 135 0 25458 0 5500 0 245840 0 0 0 David Porter Assoc. VP, Controller & Asst. Treas. 207778 0 6000 0 645 0 26577 0 31087 0 272087 0 0 0 Ted Gayer VP & Director of Economic Studies 363843 0 25000 0 0 0 44588 0 8582 0 442013 0 0 0 Kemal Dervis VP & Director of Global 316202 0 16000 0 0 0 38271 0 3582 0 374055 0 0 0 Darrell M West VP & Director of Governance Studies 309202 0 15500 0 990 0 37863 0 20905 0 384460 0 0 0 Catherine A Piez Chief Investment Officer 295147 0 5000 0 4857 0 31800 0 21932 0 358736 0 0 0 Bruce Jones VP & Director, Foreign Policy 282984 0 14000 0 225 0 33860 0 4515 0 335584 0 0 0 Amy Liu Witmer VP & Director, Metropolitan Policy 285799 0 0 0 225 0 34198 0 862 0 321084 0 0 0 William J Gale Sr Fellow & Director, Tax Policy Cen 379358 0 26700 0 15263 0 31800 0 18894 0 472015 0 0 0 Bruce J Katz Centennial Scholar 350710 0 18000 0 11937 0 31800 0 31410 0 443857 0 0 0 Diane Schanzenbach Sr Fellow & Director, The Hamilton P 329197 0 23383 0 4645 0 31800 0 1267 0 390292 0 0 0 David Wessel Sr Fellow & Director, The Hutchins C 270914 0 10000 0 2553 0 31800 0 22488 0 337755 0 0 0 Grover Whitehurst Sr Fellow & Brown Center Director 274096 0 0 0 1092 0 31800 0 862 0 307850 0 0 0 Part I, Line 4b Strobe Talbott participates in a nonqualified retirement plan under IRC 457(f). Plan participation is expected to last until 06/30/2018. Part I, Line 7 Bonuses are discretionary and are based on institutional affordability, as determined annually by the President. X 16 481100 FMV 0 1 0 Form 990, Part III, Line 1 The Brookings Institution (Brookings) is a nonprofit public policy organization that conducts in-depth, independent research with the goal of improving governance and solving problems facing society at the local, national and global level. Brookings achieves impact by providing policy analysis and recommendations on pressing policy challenges, which are disseminated through reports, books, media appearances, op-eds, blog posts, Congressional testimony, public and private events, and opinion pieces posted on Brookings's website, as well as briefings for policymakers and their staffs. Headquartered in Washington, DC, Brookings is organized into five research programs that focus on domestic and international economics, foreign policy, international development, governance, and metropolitan policy. Brookings has overseas centers in Qatar, China, and India. In 2016, Brookings adopted a new strategic plan that refocuses its mission, engages new audiences, promotes interdisciplinary collaboration, increases diversity, and strengthens efficiency and sustainability. Form 990, Part III, line 2 Brookings engaged in Program Service Revenue during the year, which is not listed on the prior Form 990. Program service revenue is trade or business income related to Brookings' exempt activities and is similar to an exchange transaction. The purpose of proposed activities are for the public benefit and/or the advancement of the Brookings educational and research mission. Brookings is not deviating from its exempt purpose but simply expanding it. Form 990, Part V, line 3b THE BROOKINGS INSTITUTION is awaiting additional information in order to timely file a complete and accurate form 990-t by the extended deadline of May 15, 2018. The amount shown as net unrelated business taxable income on line 7b of page 1 of the form 990 is an estimate based on available information. Form 990, Part VI, Section A, line 2 John Thornton and Brian Greenspun - business relationship Form 990, Part VI, Section A, line 4 Following are summary of changes in bylaws: 1. New term limits were introduced, changing from a maximum of two or three 3-year terms (half were eligible for a third term) to a maximum of two 4-year terms (8 years total) with an extension for those in Board leadership positions. 2. In addition, the intent of the new bylaws is to eliminate the former practice of cycling Trustees to Honorary Trustee status and then re-electing them as voting Elected Trustees. 3. The category of Honorary Trustee was replaced with two new categories: Senior Trustee and Lifetime Trustee. 4. Two officer positions, Secretary and Treasurer, may be filled by Trustees (previously, those positions were held exclusively by staff). 5. Board officers have term limits. 6. Committees must have Vice Chairs. Form 990, Part VI, Section B, line 11b The Executive Committee of the Board of Trustees has appointed the Audit Committee of the Board as the responsible board party for reviewing the form 990 and 990T each year starting with the fiscal year ended June 30, 2009. Once the form has been completed it is reviewed internally by the President, the Chief Financial Officer, the Controller, the General Counsel, and other members of the senior staff, along with the Audit Committee. Once those reviews are completed and the document has been approved, it is sent to all voting members of the Board of Trustees before it is filed with the Internal Revenue Service. Form 990, Part VI, Section B, line 12c Each year, all Brookings personnel and certain affiliates are required to complete a disclosure and acknowledgment form related to the Institution's Conflict of Interest Policy. Specifically, all employees are required to acknowledge that they have read, understood, and are committed to abiding by the Institution's Conflict of Interest Policy as well as certain other Institutional policies and are additionally asked to make certain disclosures about their activities outside of work and finances to help identify possible conflicts of interest. All forms are submitted to the Office of the General Counsel, which reviews them and has discretion to make recommendations or raise concerns with affected individuals as appropriate. Minor issues involving potential or apparent conflicts of interest and questions about the same are resolved by the General Counsel in consultation with other members of senior management as appropriate. Major conflict of interest issues and conflict of interest issues involving Trustees have been referred to the Audit Committee. The General Counsel regularly confers with the Chair of the Audit Committee regarding the Institution's Conflict of Interest Policy and any conflict of interest issues. Form 990, Part VI, Section B, line 15 The Institution's bylaws provide that there shall be a Compensation Committee consisting of not fewer than five (5) Trustees, including the Chair (or Co-Chairs) of the Board, the Vice Chair(s) and at least three (3) other Trustees who shall be nominated by the Chair (or Co-Chairs) of the Board and determined by the Board to be free of any contractual or other relationships that would put into question the exercise of his or her independent judgment. The Chair of the Compensation Committee shall be the Chair (or Co-Chairs) of the Board. The Vice Chair of the Compensation Committee shall be selected by the Chair (or Co-Chairs) of the Board. The Compensation Committee shall have the authority to set the salary of the President and such other officers, managers or employees as the Executive Committee or Audit Committee shall recommend be set by the Compensation Committee and in accordance with any Board-adopted compensation policy. In setting such salaries, the Compensation Committee shall gather and rely on relevant salary comparability data and shall record committee minutes that clearly document the committee's decisions and the rationale underlying such decisions. Form 990, Part VI, Section C, line 19 Brookings' Conflict of Interest Policy and other key policies are available on our website, Brookings.edu. Brookings links to GuideStar.org from its website to provide the Form 990. Form 990, Part VI, Line 1a and Part VII, column a, Number of board members There were sixty board members who served at any time during the fiscal year. All board members who served during the fiscal year are shown in Part VII, Column A. At June 30, 2017, there were only fifty-nine voting board members. Form 990, Part IX, line 11g Contacts/Professional Services: Program service expenses 9,219,985. Management and general expenses 2,108,135. Fundraising expenses 30,412. Total expenses 11,358,532. Qualified Subcontacts: Program service expenses 187,507. Management and general expenses 0. Fundraising expenses 0. Total expenses 187,507. Temporary Help: Program service expenses 626,876. Management and general expenses 73,407. Fundraising expenses 34,983. Total expenses 735,266. Form 990, Part XI, line 9: Gain/(loss) on foreign currency exchange 171,850. Effect of adoption provisions SFAS No. 158 367,000. India Private Expenses not included in Form 990 -14,084. Brookings Center - Doha PO Box 22694 doha QA analysis and research QA THE BROOKINGS INSTITUTION 1 Brookings India Private Limited 1568 church road kashmere gate new delhi IN 110006 analysis and research IN THE BROOKINGS INSTITUTION C 10078 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0