2017-04-18T12:59:31-05:00 2016-06-30 521392008 GELMAN ROSENBERG & FREEDMAN 4550 MONTGOMERY AVE SUITE 650N BETHESDA MD 208142930 990 2015-07-01 237373091 AMERICAN ASSOCIATION FOR THE STUDY OF LIVER DISEASES AMER 7032999766 1001 NORTH FAIRFAX STREET NO 400 ALEXANDRIA VA 223141587 STEVEN ECHARD CEO 7032999766 2017-04-18 1 TERRI MCKNIGHT CPA P00543022 3019519090 2015 2021-01-29 14:40:06Z STEVEN ECHARD 1001 NORTH FAIRFAX STREET NO 400 ALEXANDRIA VA 223141587 46589912 0 X WWW.AASLD.ORG X 1950 IL SEE PART III, LINE 1. 11 11 44 258 -46175 -46175 761000 1028431 9418539 10761485 1097988 -296073 2903090 2043777 14180617 13537620 11149464 1169500 0 0 3701705 4075708 0 0 10366 8446558 8540494 23297727 13785702 -9117110 -248082 44107847 44194023 10012957 11009387 34094890 33184636 X TO ADVANCE AND DISSEMINATE THE SCIENCE AND PRACTICE OF HEPATOLOGY, AND TO PROMOTE LIVER HEALTH AND QUALITY PATIENT CARE. 0 0 6160583 8368819 MEETINGS AND EDUCATION INCLUDING THE ANNUAL MEETING: THE ASSOCIATION'S EDUCATIONAL PROGRAM ENABLES THE DISSEMINATION OF NEW TECHNIQUES AND ADVANCES IN EXISTING KNOWLEDGE AND PROCEDURES TO PHYSICIANS VIA FACE-TO-FACE MEETINGS AND ONLINE LEARNING. THE PROGRAM ALSO PROVIDES REGULAR OPPORTUNITIES FOR PHYSICIANS TO REVIEW BASIC AND CLINICAL TOPICS IN THEIR SPECIALTY TO PROMOTE THE ADVANCEMENT OF PATIENT CARE AND FOSTER NEW RESEARCH. THE LIVER MEETING, THE ASSOCIATION'S ANNUAL MEETING, OFFERS THE LATEST IN LIVER DISEASE TREATMENT OUTCOMES. ATTENDEES PARTICIPATE IN PLENARY, PARALLEL AND POSTER SESSIONS, STATE-OF-THE-ART LECTURES, EARLY MORNING WORKSHOPS, MEET-THE-PROFESSOR SESSIONS, SPECIALTY COURSES, SPECIAL INTEREST GROUPS AND SCIENTIFIC EXHIBITS TO EXCHANGE THE LATEST LIVER DISEASE RESEARCH, DISCUSS TREATMENT OUTCOMES, AND INTERACT WITH COLLEAGUES. THE ASSOCIATION HOLDS SMALL STAND-ALONE MEETINGS SUCH AS THE MIDYEAR COURSE ON CLINICAL HEPATOLOGY AND EMERGING TRENDS CONFERENCES, CO-SPONSORS DIGESTIVE DISEASE WEEK, AND COLLABORATES WITH DOMESTIC AND INTERNATIONAL MEDICAL SOCIETIES, GOVERNMENT ENTITIES AND/OR OTHER NONPROFIT ORGANIZATIONS ON MUTUAL EDUCATIONAL PROGRAMMING IN HEPATOLOGY.LIVERLEARNING, AASLD'S OFFICIAL E-LEARNING PORTAL, IS AN ONLINE EDUCATIONAL REPOSITORY THAT ORGANIZES DIGITAL CONTENT FROM AASLD MEETINGS AND OTHER EDUCATIONAL OFFERINGS SUCH AS PRACTICE GUIDELINES AND COURSE HANDOUTS. THE AASLD CURRICULUM AND TRAINING WEB-BASED EDUCATIONAL ACTIVITY PROVIDES INTERACTIVE ONLINE LEARNING DESIGNED TO INCREASE THE CONFIDENCE AND COMPETENCE OF HEALTHCARE PROFESSIONALS. 1899744 832171 PUBLICATIONS: "HEPATOLOGY", THE OFFICIAL JOURNAL OF THE ASSOCIATION, AND "LIVER TRANSPLANTATION" PROVIDE PEER-REVIEWED RESEARCH ON THE LIVER AND BILIARY TRACT AND THEIR DISEASES. "LIVER TRANSPLANTATION", A SPECIALTY JOURNAL, PUBLISHES STATE-OF-THE-ART INFORMATION ON LIVER TRANSPLANTATION. CLINICAL LIVER DISEASE (CLD) IS AN ONLINE LEARNING RESOURCE/JOURNAL THAT ADDRESSES TREATMENT ISSUES FACED BY HEPATOLOGISTS AND NONHEPATOLOGISTS WHEN SEEING PATIENTS WITH LIVER DISEASE. HEPATOLOGY COMMUNICATIONS IS AN OPEN ACCESS, DIGITAL JOURNAL EXPLORING ALL AREAS OF LIVER DISEASE, INCLUDING A GLOBAL FOCUS. 1598149 1169500 57063 PROFESSIONAL RELATIONS: INCLUDES AASLD PRACTICE GUIDELINES AND RELATED SOCIETY COLLABORATIONS. AASLD DEVELOPS CLINICAL PRACTICE GUIDELINES WHICH INCLUDE RECOMMENDATIONS THAT ARE SUPPORTED BY A HIGH LEVEL OF SCIENTIFIC EVIDENCE TO ASSIST PRACTITIONER AND PATIENT DECISIONS FOR APPROPRIATE HEALTH CARE RELATED TO SPECIFIC CLINICAL CIRCUMSTANCES. AASLD COLLABORATES WITH OTHER MEDICAL SOCIETIES BOTH DOMESTICALLY AND INTERNATIONALLY ON PROGRAMS AND ACTIVITIES THAT FURTHER THE SCIENCE AND PRACTICE OF HEPATOLOGY. MEMBER REPRESENTATIVES ARE SENT TO MEETINGS TO REPRESENT THE SOCIETY AND PROGRAMS ARE CREATED THAT BENEFIT AUDIENCES INTERESTED IN MUTUAL TOPICS OF INTEREST. 1263708 1503432 MEMBERSHIP & MENTORSHIP: AASLD'S MEMBERSHIP ENCOMPASSES ALL PROFESSIONALS DEDICATED TO HEPATOBILIARY DISCOVERIES AND PATIENT CARE. AASLD HAS OVER 5,200 DOMESTIC AND INTERNATIONAL PHYSICIANS, SCIENTISTS, HEPATOLOGISTS, SURGEONS, PATHOLOGISTS, AND ALLIED HEALTH PROFESSIONALS WHOSE PRACTICE OR RESEARCH INVOLVES THE FUNCTIONING AND DISORDERS OF THE LIVER AND BILIARY TRACT. THE AASLD MENTORSHIP PROGRAM IS DESIGNED TO TARGET MEDICAL, SURGICAL AND PEDIATRIC RESIDENTS AND PROMOTE THE STUDY OF HEPATOLOGY WHO HAVE THE POTENTIAL FOR A CAREER IN ACADEMIC MEDICINE. WORKING WITH OUR MEMBERS WHO SERVE AS MENTORS TO THESE RESIDENTS, WE INVEST IN THE FUTURE OF THE PROFESSION AND SHARE THE EXPERTISE OF OUR MEMBERSHIP.WEBSITE:AASLD MAINTAINS A WEBSITE ALLOWING MEMBERS, SCIENTISTS, PHYSICIANS, ALLIED HEALTH PROFESSIONALS, AND OTHER VISITORS TO NAVIGATE AND FIND INFORMATION ABOUT THEIR AREAS OF INTEREST. (SITE VISITORS TOTAL GREATER THAN 370,000 ANNUALLY). 558486 COMMUNICATIONS: INCLUDES AASLD E-NEWS, WHICH IS PUBLISHED EVERY OTHER WEEK FOR THE AASLD MEMBERSHIP. ALSO INCLUDES MEDIA RELATIONS SURROUNDING RESEARCH PRESENTED AT THE ANNUAL MEETING, AS WELL AS MAJOR MILESTONES THROUGHOUT THE YEAR RELATED TO THE SOCIETY. AASLD DISSEMINATES INFORMATION ABOUT ADVANCES MADE IN THE TREATMENT OF PATIENTS WITH LIVER DISEASE AND POLICY DECISIONS THAT REFLECT CLINICIANS, RESEARCHERS, AND PATIENTS. 350323 CLINICAL AND PUBLIC POLICIES: AASLD CONDUCTS A PUBLIC AND CLINICAL POLICY PROGRAM, WHICH IS SUPERVISED BY THE PUBLIC AND CLINICAL POLICY COMMITTEE. IT HOLDS TWO EVENTS EACH YEAR: LIVER CAPITOL HILL DAY AND FEDERAL AGENCY DAY. IN THE FORMER, AASLD PARTNERS WITH PATIENT ADVOCACY ORGANIZATIONS TO EDUCATE CONGRESSIONAL LEGISLATORS AND STAFF ON ISSUES RELATED TO LIVER DISEASE RESEARCH AND PATIENT CARE. IN THE LATTER, AASLD DISCUSSES WITH KEY FEDERAL AGENCY PARTNERS WAYS IN WHICH AASLD CAN INFORM THE SCIENTIFIC COMMUNITY OF FEDERAL RESEARCH PRIORITIES. AASLD ALSO KEEPS ITS MEMBERS INFORMED OF LEGISLATIVE DECISIONS THAT WILL AFFECT PRACTICE AND RESEARCH AND ENCOURAGES MEMBERS TO REMAIN CIVICALLY INVOLVED. 2172517 1503432 11830993 1 1 0 1 0 0 0 0 0 1 1 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 130 0 1 44 1 1 1 0 0 0 0 0 0 0 0 0 X 11 11 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 1 1 AL AR CA CT GA HI IL KS MD MA MI MN MS NH NJ NM NY NC OR PA TN UT VA WI X W RAY KIM 7032999766 1001 NORTH FAIRFAX ST ALEXANDRIA VA 22314 KEITH D LINDOR PRESIDENT 5.00 0.00 X X 50000 0 0 ANNA SUK-FONG LOK PRESIDENT-ELECT 5.00 0.00 X X 25000 0 0 GYONGYI SZABO PAST PRESIDENT 5.00 5.00 X X 0 0 0 W RAY KIM TREASURER 5.00 5.00 X X 15000 0 0 KIMBERLY ANN BROWN SECRETARY 5.00 0.00 X X 15000 0 0 JORGE A BEZERRA COUNCILOR 5.00 0.00 X 0 0 0 MICHAEL W FRIED COUNCILOR 5.00 5.00 X 0 0 0 RONALD J SOKOL COUNCILOR 5.00 0.00 X 0 0 0 MARK J CZAJA COUNCILOR AT LARGE 5.00 0.00 X 0 0 0 JULIE HEIMBACH COUNCILOR AT LARGE 5.00 0.00 X 0 0 0 K RAJENDER REDDY COUNCILOR AT LARGE 5.00 5.00 X 0 0 0 STEVEN ECHARD CHIEF EXECUTIVE OFFICER 27.00 15.00 X 359665 0 62081 NELLIE SARKISSIAN CHIEF OPERATIONS OFFICER 40.00 2.00 X 220744 0 30430 JULIE DEAL AASLD DEPUTY EXECUTIVE DIRECTOR/FDN ED 37.00 5.00 X 175514 0 32185 GREGORY BOLOGNA CHIEF COMMUNICATION OFFICER 35.00 0.00 X 149103 0 25893 HEIDI BRUCE DIRECTOR OF DEVELOPMENT 35.00 0.00 X 122710 0 21272 CHRISTOPHER DUGMORE DIRECTOR OF DATA INTEGRITY 35.00 0.00 X 127695 0 22367 JANEIL KLETT SR. DIR., EDUC. & PROF. DEV. 35.00 0.00 X 122686 0 20834 PAULA MCGRAW CHIEF TECHNOLOGY OFFICER 35.00 0.00 X 137069 0 22673 1520186 0 237735 11 0 1 0 PSAV 23918 NETWORK PLACE CHICAGO IL 606731239 AUDIO VISUAL SERVICES 841214 JOHN WILEY & ASSOCIATES PO BOX 416502 BOSTON MA 022416502 PUBLISHER OF AASLD JOURNALS 636225 SMG 747 HOWARD ST 5TH FL SAN FRANCISCO CA 941033181 CATERING SERVICES 444676 FREEMAN PO BOX 660613 DALLAS TX 75266 LOGISTICS MGMT. & MEETING SUPPORT 401720 MARRIOTT BUSINESS SERVICES PO BOX 403003 ATLANTA GA 303843003 CATERING/MEETING SERVICES 288245 19 1028431 1028431 MEETINGS/EDUCATION 900099 8368819 8368819 MEMBERSHIP DUES 900099 1489782 1489782 PUBLICATIONS 900099 832171 832171 PROFESSIONAL RELATIONS 900099 57063 57063 CAREER DEVELOPMENT ADS 541800 13650 13650 10761485 662054 662054 2090175 2090175 103722 167402 -63680 -63680 -59825 -3855 31926763 32884890 -958127 -958127 -958127 MISCELLANEOUS 900099 17282 17282 17282 13537620 10747835 -46175 1807529 1169500 1169500 825339 461505 363834 2458436 2026351 429180 2905 247830 204198 43339 293 307162 246859 59975 328 236941 186500 50217 224 20610 860 14061 5689 88456 43257 45199 15542 15542 947290 826377 120913 506715 489356 17359 282769 228029 54705 35 624974 530340 94576 58 488352 372012 115867 473 751305 583122 168183 2954935 2804667 150268 46166 36782 9341 43 45826 32751 13075 PUBLISHERS FEES 1120123 1080688 39435 OFFICE CONDO EXPENSES 324799 247423 77062 314 AGENCY TEMPORARY 100459 94978 5481 DUES & PROCESSING 89090 81945 7145 133083 83493 49586 4 13785702 11830993 1944343 10366 X 2611538 4457167 371652 457429 1596170 1211084 1547290 547806 444381 519988 8912815 2600957 6563321 6311858 30813500 30278475 159995 410216 44107847 44194023 555664 651467 1231689 1875120 3200000 3100000 3177995 3008440 1847609 2374360 10012957 11009387 X 28277951 27891500 2755089 2231286 3061850 3061850 34094890 33184636 44107847 44194023 X -248082 -135420 -526752 X 0 1 X 1 0 X 2297272 2730636 5129804 761000 1028431 11947143 8030004 8606827 1514673 9458782 10747835 38358121 10327276 11337463 6644477 10219782 11776266 50305264 5000 5000 0 5000 5000 50300264 2852096 2726680 1062188 3662937 2855951 13159852 2852096 2726680 1062188 3662937 2855951 13159852 476 800 1413 17282 19971 13179848 14064943 7706665 13884132 14649499 63485087 0.79230 0.79770 0.20730 0.20220 X SHORT YEAR: THE "2013" COLUMN REFLECTS INFORMATION FOR THE SHORT PERIOD JANUARY 1, 2014 TO JUNE 30, 2014, DUE TO THE FISCAL YEAR END CHANGE FROM A CALENDAR YEAR END TO A JUNE 30TH FISCAL YEAR END. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 0 0 0 0 1 47349 0 0 47349 0 PART II-B, LINE 1: AASLD PARTNERED WITH PATIENT ADVOCACY ORGANIZATIONS TO EDUCATE CONGRESSIONAL LEGISLATORS AND STAFF ON ISSUES RELATED TO LIVER DISEASE RESEARCH AND PATIENT CARE. 7618332 38606 -27557 243698 7385683 7967801 -348155 104715 106029 7618332 7584441 260247 221514 98401 7967801 6055830 934120 700570 106079 7584441 4830486 787019 565884 127559 6055830 0.41460 0.58540 0 0 8189609 2082404 6107205 646570 451537 195033 76636 67016 9620 6311858 INTEREST RATE SWAP OBLIGATION 2374360 2374360 X 13560160 -135420 6100 167402 38082 13522078 15542 15542 13537620 13943662 6100 167402 173502 13770160 15542 15542 13785702 PART V, LINE 4: DONOR RESTRICTED ENDOWMENT ASSETS ARE HELD IN PERPETUITY AND INVESTED IN AN ATTEMPT TO PROVIDE A STREAM OF FUNDING TO PROGRAMS SUPPORTED BY ITS ENDOWMENT WHILE SEEKING TO MAINTAIN THE PURCHASING POWER OF THE ENDOWED ASSETS. BOARD DESIGNATED ASSETS ARE HELD FOR RESEARCH PROGRAMS AND AWARDS. PART X, LINE 2: FOR THE YEAR ENDED JUNE 30, 2016, THE ASSOCIATION HAS DOCUMENTED ITS CONSIDERATION OF FASB ASC 740-10, INCOME TAXES, THAT PROVIDES GUIDANCE FOR REPORTING UNCERTAINTY IN INCOME TAXES AND HAS DETERMINED THAT NO MATERIAL UNCERTAIN TAX POSITIONS QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES SHOWN AS EXPENSES ON THE FINANCIAL 167,402. STATEMENTS AND NETTED AGAINST REVENUE ON FORM 990, PART VIII, LINE 6(B). PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES SHOWN AS EXPENSES ON THE FINANCIAL 167,402. STATEMENTS AND NETTED AGAINST REVENUE ON FORM 990, PART VIII, LINE 6(B). 1 AMERICAN ASSOCIATION FOR THE STUDY OF LIVER DISEASES FOUNDATION 1001 NORTH FAIRFAX STREET ALEXANDRIA VA 22314 464495751 501(C)(3) 1000000 TO INVEST IN INNOVATIVE HEPATOLOGY RESEARCH AND IN THE PEOPLE WHO STUDY AND TREAT LIVER DISEASE MOUNT DESERT ISLAND BIOLOGICAL PO BOX 35 SALISBURY COVE ME 04672 010202467 501(C)(3) 9000 SPONSORSHIP FOR 3 POSTDOCTORAL LIVER FELLOWS TO ATTEND THE ORIGINS OF HEPATOBILIARY AND GASTROINTESTINAL PHYSIOLOGY" WORKSHOP HELD AT THE MT. DESERT ISLAND BIOLOGY LABORATORY. NATIONAL ACADEMY OF SCIENCES 500 TH STREET NW RM 836A WASHINGTON DC 20001 530196932 501(C)(3) 120000 TO EDUCATE HEALTHCARE PROVIDERS ON BEST PRACTICES TO IMPROVE PATIENT OUTCOMES AND INCREASE PATIENT AND PUBLIC AWARENESS OF LIVER DISEASE AND ITS TREATMENT AND FUNDING FOR RESEARCH WITH THE GOAL OF ELIMINATING HEPATITIS B AND C. YALE UNIVERSITY 135 COLLEGE ST 301 NEW HAVEN CT 06510 060646973 501(C)(3) 15000 AASLD CO-SPONSORED THE INTERNATIONAL PRIMARY SCLEROSING CHOLANGITIS STUDY GROUP (IPSCSG) WORKSHOP EVENTS & MANAGEMENT PLUS INC 2604 ELMWOOD AVE 350 ROCHESTER NY 14618 981141908 OTHER 10000 AASLD SPONSORSHIP OF INT'L SOCIETY FOR HEPATIC SINUSOIDAL RESEARCH CONFERENCE FEDERATION OF AMERICAN SOCIETIES FOR EXPERIMENTAL BIOLOGY 9650 ROCKVILLE PIKE BETHESDA MD 20814 520700497 501(C)(3) 15000 AASLD CO-SPONSORED 2016 FEDERATION OF AMERICAN SOCIETIES FOR EXPERIMENTAL BIOLOGY (FASEB) SCIENCE RESEARCH CONFERENCE: LIVER BIOLOGY LIVER FUNDAMENTAL MECHANISMS AND TRANSLATIONAL APPLICATION 5 1 PART I, LINE 2: RECIPIENTS MUST BE ENROLLED AS A GI AND/OR HEPATOLOGY FELLOW OR TRAINEE IN AN ACCREDITED ADULT OR PEDIATRIC TRANSPLANT HEPATOLOGY PROGRAM. AASLD PROVIDES GRANTS TO INSTITUTIONS TO SUPPORT THE RESEARCH WORK AND EDUCATION OF THE FELLOW OR TRAINEE. AASLD RECEIVES INTERIM PROGRESS AND FISCAL REPORTS FROM THE RECIPIENT REGARDING USE OF FUNDS. X X X X 0 0 0 0 0 0 0 1 0 STEVEN ECHARD CHIEF EXECUTIVE OFFICER 343665 0 16000 0 0 0 32960 0 29121 0 421746 0 0 0 NELLIE SARKISSIAN CHIEF OPERATIONS OFFICER 219744 0 1000 0 0 0 21495 0 8935 0 251174 0 0 0 JULIE DEAL AASLD DEPUTY EXECUTIVE DIRECTOR/FDN 174514 0 1000 0 0 0 17389 0 14796 0 207699 0 0 0 GREGORY BOLOGNA CHIEF COMMUNICATION OFFICER 148103 0 1000 0 0 0 15562 0 10331 0 174996 0 0 0 CHRISTOPHER DUGMORE DIRECTOR OF DATA INTEGRITY 127695 0 0 0 0 0 13390 0 8977 0 150062 0 0 0 PAULA MCGRAW CHIEF TECHNOLOGY OFFICER 136069 0 1000 0 0 0 13675 0 8998 0 159742 0 0 0 PART I, LINE 7 THE FOLLOWING INDIVIDUALS RECEIVED BONUS COMPENSATION: S. ECHARD - $16,000 N. SARKISSIAN - $1,000 J. DEAL - $1,000 G. BOLOGNA - $1,000 J. KLETT - $1,000 P. MCGRAW - $1,000 A INDUSTRIAL DEVELOPMENT AUTHORITY ALEXANDRIA VA 521381432 015312DF5 2006-08-01 4000000 PURCHASE 22,503 SQ FT OFFICE CONDO 0 1 0 A 900000 4000000 141933 3858067 2006 0 0 1 1 A 0 1 0 0 0.00100 0.00100 0 0 0 A 0 0 0 0 1 0 0 0 0 A 0 FORM 990, PART VI, SECTION A, LINE 6 AASLD MEMBERSHIP IS COMPOSED OF SCIENTISTS AND PHYSICIANS DEDICATED TO THE FIELD OF HEPATOLOGY AND ARE DIVIDED INTO SEVEN MEMBERSHIP CATEGORIES: REGULAR, EMERITUS, INTERNATIONAL, TRAINEE, ASSOCIATE, HONORARY, CORPORATE AFFILIATE AND FELLOW AASLD MEMBER. FORM 990, PART VI, SECTION A, LINE 7A AASLD'S REGULAR AND EMERITUS MEMBERS HAVE THE RIGHT TO ELECT THREE MEMBERS OF THE GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO AASLD'S ARTICLES OF INCORPORATION AND BYLAWS ARE SUBJECT TO APPROVAL BY ITS MEMBERS. FORM 990, PART VI, SECTION B, LINE 11 AFTER BEING PREPARED BY AASLD'S INDEPENDENT ACCOUNTING FIRM, THE FORM 990 IS REVIEWED BY SENIOR MANAGEMENT AND OUTSIDE LEGAL COUNSEL, THEN PROVIDED TO THE GOVERNING BOARD FOR REVIEW BEFORE BEING FILED. FORM 990, PART VI, SECTION B, LINE 12C AN AASLD DISCLOSURE FORM IS COMPLETED BY ALL MEMBERS OF THE GOVERNING BOARD, COMMITTEES, AND TASK FORCES OF THE ASSOCIATION UPON NOMINATION AND/OR APPOINTMENT AND ANNUALLY. ALSO INCLUDED ARE STAFF OF THE ASSOCIATION. THE FORM IS UPDATED THEREAFTER DURING EACH PERSON'S TENURE OF OFFICE, AS NECESSARY. COMMITTEE CHAIRS MAKE FORMS AVAILABLE AT ALL MEETINGS. IF IT IS DETERMINED THAT A CONFLICT EXISTS, THE ETHICS COMMITTEE ADVISES THE MEMBER TO TAKE ACTIONS INCLUDING THE FOLLOWING POSSIBLE ACTIONS: - DIVEST OR RESIGN FROM THE CONFLICT IN QUESTION. - ABSTAIN FROM DISCUSSION AND VOTING ON MATTERS INVOLVING THE CONFLICT. - EXCUSE HIM/HERSELF FROM PARTICIPATING IN SUCH MATTERS. - RESIGN FROM THE AASLD COMMITTEE OR OFFICE. FORM 990, PART VI, SECTION B, LINE 15A AASLD PERFORMS ANNUAL SALARY REVIEWS FOR EACH STAFF POSITION AND ADJUSTS COMPENSATION LEVELS AS NECESSARY. ANNUAL COMPENSATION SURVEYS ARE PERFORMED BY OUTSIDE CONSULTANTS EVERY TWO TO THREE YEARS. THE GOVERNING BOARD APPROVES/ADJUSTS THE CEO'S SALARY. THE CEO'S PERFORMANCE AND SALARY REVIEW ARE NOTED IN A LETTER FROM THE PRESIDENT OF AASLD TO THE CEO WITH A COPY TO THE ENTIRE GOVERNING BOARD. A COPY OF THE LETTER, ALONG WITH THE RELATED SUPPORTING DOCUMENTS, ARE IN THE CEO'S PERSONNEL FILE. THE CEO'S COMPENSATION WAS LAST REVIEWED IN APRIL 2016. THE CEO APPROVES STAFF SALARY. STAFF SALARY DETERMINATION IS COMMUNICATED WITH STAFF ALONG WITH WRITTEN PERFORMANCE EVALUATION, WHICH IS CONDUCTED AT YEAR-END. INDIVIDUAL MEMORANDUMS FROM THE CEO TO INDIVIDUAL STAFF, COMMUNICATING THE SALARY CHANGE AND THE POSITION GRADE, ARE GIVEN TO INDIVIDUAL STAFF MEMBERS. COPIES OF THESE MEMORANDUMS ARE IN INDIVIDUALS' PERSONNEL FILES. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND AUDITED FINANCIAL STATEMENTS ARE AVAILABLE UPON RECEIPT OF A BONAFIDE REQUEST. THE CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE ALSO AVAILABLE ON THE ORGANIZATION'S WEBSITE. FORM 990, PART 1, LINE 19 DURING THE PRIOR FISCAL YEAR, THERE WAS A SIGNIFICANT DECREASE IN NET ASSETS. TO FUND THE AASLD FOUNDATION, THE ASSOCIATION'S GOVERNING BOARD AUTHORIZED AN INITIAL TRANSFER OF NET ASSETS OF $11,061,556. SUBSEQUENTLY, THE GOVERNING BOARD ALSO AUTHORIZED THE TRANSFER OF $35,020 OF MEMORIAL TRAVEL AWARDS TO THE AASLD FOUNDATION, BRINGING THE TOTAL TRANSFERS OF NET ASSETS TO $11,096,576. FORM 990, PART XI, LINE 9: UNREALIZED LOSS ON INTEREST RATE SWAP OBLIGATION -526,752. FORM 990, PART X - SUBSEQUENT EVENT IN PREPARING THE FINANCIAL STATEMENTS, THE ASSOCIATION HAS EVALUATED EVENTS AND TRANSACTIONS FOR POTENTIAL RECOGNITION OR DISCLOSURE THROUGH OCTOBER 13, 2016, THE DATE THE FINANCIAL STATEMENTS WERE ISSUED. ON AUGUST 1, 2016, THE ASSOCIATION PAID ALL OUTSTANDING DEBT ASSOCIATED WITH THE PURCHASE AND CONSTRUCTION OF ITS OFFICE CONDOMINIUM: 1) THE REMAINDER PRINCIPAL DUE ON BOTH CONVENTIONAL LOANS, 2) THE REMAINDER PRINCIPAL ON THE TAX EXEMPT BONDS, AND 3) THE TOTAL INTEREST RATE SWAP OBLIGATIONS RELATED TO ALL THREE LOANS. THE ASSOCIATION PAID THESE DEBTS WITH $3.0 MILLION FROM CASH AND INVESTMENT RESERVES AND ENTERED INTO A 10 YEAR NOTE PAYABLE IN THE AMOUNT OF $5,470,814 WITH A 3.26% FIXED INTEREST RATE AND A CLOSING COMMITMENT FEE OF 20 BASIS POINTS. THE NEW LOAN IS SECURED BY AASLD'S INVESTMENTS. THE LOAN AGREEMENT CONTAINS VARIOUS COVENANTS WHICH, AMONG OTHER THINGS, PLACE RESTRICTIONS ON THE ASSOCIATION'S ABILITY TO INCUR ADDITIONAL INDEBTEDNESS AND REQUIRES THE ASSOCIATION TO MAINTAIN CERTAIN FINANCIAL RATIOS. AASLD FOUNDATION 1001 NORTH FAIRFAX STREET ALEXANDRIA VA 22314 464495751 INVEST IN INNOVATIVE HEPATOLOGY RESEARCH AND PEOPLE WHO STUDY LIVER DISEASE VA 501(C)(3) LINE 7 AASLD 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 AASLD FOUNDATION B 1000000 ACTUAL AMOUNT AASLD FOUNDATION N 126959 ACTUAL AMOUNT AASLD FOUNDATION O 199313 ACTUAL AMOUNT