2017-09-29T11:10:10-05:00 2016-08-31 131655065 LUTZ AND CARR CPAS LLP 551 FIFTH AVENUE SUITE 400 NEW YORK NY 10176 990 2015-09-01 131623881 AMERICAN ACADEMY IN ROME AMER 2127517200 7 EAST 60TH STREET NEW YORK NY 100221001 MARK ROBBINS PRESIDENT 2127517200 2017-09-25 1 FREDERICK MARTENS P00298107 2126972299 2015 2021-01-29 14:40:06Z X MARK ROBBINS 7 EAST 60TH STREET NEW YORK NY 100221001 32047660 0 X WWW.AAROME.ORG X 1894 NY THE ACADEMY AWARDS THE PRESTIGIOUS ROME PRIZE TO A SELECTED GROUP OF ARTISTS AND SCHOLARS INVITED TO ROME TO PURSUE THEIR CREATIVE GOALS IN AN ATMOSPHERE CONDUCIVE TO ARTISTIC INNOVATION AND PROGRESSIVE SCHOLARSHIP. 46 44 26 44 37982 29666 4967034 3923337 1859374 2164669 2192826 5079598 9654 42918 9028888 11210522 837809 847700 0 0 5162284 5366947 0 0 1790923 6616278 6337332 12616371 12551979 -3587483 -1341457 121325385 120078344 2432114 3269932 118893271 116808412 X THE AMERICAN ACADEMY IN ROME SUPPORTS INNOVATIVE ARTISTS, WRITERS AND SCHOLARS LIVING AND WORKING TOGETHER IN A DYNAMIC INTERNATIONAL COMMUNITY. 0 0 5186588 816500 40951 FELLOWSHIPS AND RESIDENCIES:THROUGH ITS ANNUAL ROME PRIZE FELLOWSHIP PROGRAM, THE ACADEMY SUPPORTED THIRTY-ONE INDIVIDUALS WORKING IN ARCHAEOLOGY, ARCHITECTURE, ANCIENT STUDIES, DESIGN ARTS, HISTORIC PRESERVATION AND CONSERVATION, LANDSCAPE ARCHITECTURE, LITERATURE, MEDIEVAL STUDIES, MODERN ITALIAN STUDIES, MUSICAL COMPOSITION, RENAISSANCE AND EARLY MODERN STUDIES, AND VISUAL ARTS. THE FELLOWSHIP WINNERS IN RESIDENCE AT THE ACADEMY PURSUE THEIR OWN INDEPENDENT PROJECTS FOR PERIODS OF 6 MONTHS TO 2 YEARS. IN ADDITION, THE ACADEMY COMMUNITY INCLUDED SEVENTEEN RESIDENTS, WHO ARE EMINENT ARTISTS AND SCHOLARS WHO STAY AT THE ACADEMY FOR PERIODS UP TO 4 MONTHS, AND THIRTY-THREE AFFILIATED FELLOWS, SELECTED BY SPONSORING INSTITUTIONS. 1093529 1055749 OTHER RESIDENTIAL PROGRAMS:THE ACADEMY COMMUNITY INCLUDED 145 VISITING ARTISTS AND SCHOLARS WHO RENT ROOMS, APARTMENTS, STUDY SPACES, AND STUDIOS WHILE PURSUING THEIR RESEARCH IN ROME. 1375552 5371 ARTHUR AND JANET C. ROSS LIBRARY:THE LIBRARY'S WIDE-RANGING CATALOGUE INCLUDES INVALUABLE COLLECTIONS IN HISTORY, ARCHAEOLOGY, AND THE ART OF ROME AND ITALY. IT INCLUDES AN EXTENSIVE PHOTOGRAPHIC ARCHIVE DOCUMENTING ROME'S MANY MONUMENTS AS WELL AS A COMPREHENSIVE RECORD OF THE WORK OF PAST ROME PRIZE FELLOWS, AND A SMALL BUT VARIED TEACHING COLLECTION OF ANTIQUITIES RANGING FROM STATUES AND INSCRIPTIONS TO POTTERY AND MILLSTONES. WITH OVER 167,000 VOLUMES IN CLASSICAL STUDIES AND THE HISTORY OF ART AND ARCHITECTURE, THE LIBRARY IS WIDELY RESPECTED FOR ITS COLLECTIONS IN ANCIENT MEDITERRANEAN ARCHAEOLOGY AND ART, GREEK AND LATIN LITERATURE, ANCIENT TOPOGRAPHY INCLUDING THE HISTORY OF THE CITY OF ROME, ANCIENT RELIGIONS, AND RELATED FIELDS SUCH AS EPIGRAPHY, NUMISMATICS AND PAPYROLOGY. THE RARE BOOK COLLECTION, CHIEFLY 16TH TO 18TH CENTURY IMPRINTS IN CLASSICAL STUDIES, ARCHAEOLOGY, ART, AND ARCHITECTURE, INCLUDES SIZEABLE COLLECTIONS OF ROMAN GUIDEBOOKS AND EARLY ART TREATISES, AND BOASTS A NOTEWORTHY COLLECTION IN CONTEMPORARY ART AND ARCHITECTURE, LANDSCAPE ARCHITECTURE, ITALIAN HISTORY AND LITERATURE, AMERICAN LITERATURE, HISTORICAL TRAVEL BOOKS, AND MUSIC. THE MAIN USERS OF THE LIBRARY ARE THE FELLOWS AND RESIDENTS OF THE AMERICAN ACADEMY, BUT READING PASSES ARE ALSO ISSUED TO ITALIAN SCHOLARS, QUALIFIED ROMAN RESIDENTS, AND VISITING ARTISTS AND SCHOLARS. THE LIBRARY HAS APPROXIMATELY 9,000 USERS ANNUALLY. 1574362 31200 1062598 ARTS AND HUMANITIES EVENTS, SUMMER PROGRAMS, PUBLICATIONS AND OTHER PROGRAMS. 1574362 31200 1062598 9230031 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 0 0 1 0 1 1 0 1 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 1 30 0 1 26 1 1 1 1 IT 0 0 0 1 1 0 0 0 0 X 46 44 0 0 0 0 0 1 0 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X ANIBAL CARRION 2127517200 7 EAST 60TH STREET NEW YORK NY 100221001 MARY MARGARET JONES CHAIR 5.00 X X 0 0 0 PROFESSOR C BRIAN ROSE CHAIR EXEC. COMM. 2.00 X X 0 0 0 NANCY NOVOGROD SECRETARY 2.00 X X 0 0 0 MARK ROBBINS PRESIDENT 50.00 X X 408265 0 30803 JOHN M SHAPIRO VICE-CHAIR 2.00 X X 0 0 0 LAURIE ANDERSON TRUSTEE 1.00 X 0 0 0 PIERPAOLO BARZAN TRUSTEE 1.00 X 0 0 0 CYNTHIA L BECK TRUSTEE 1.00 X 0 0 0 SUSANNA BORGHESE TRUSTEE 1.00 X 0 0 0 KIMBERLY BOWES DIRECTOR 50.00 X X 168687 0 34126 JIM BRENNAN TRUSTEE 1.00 X 0 0 0 MARTIN BRODY TRUSTEE 1.00 X 0 0 0 VINCENT BUONANNO TRUSTEE 1.00 X 0 0 0 ANTHONY CORBEILL TRUSTEE 1.00 X 0 0 0 PATRICIA CRONIN TRUSTEE 1.00 X 0 0 0 CARY J DAVIS TRUSTEE 1.00 X 0 0 0 SHARON DAVIS TRUSTEE 1.00 X 0 0 0 GINEVRA ELKANN TRUSTEE 1.00 X 0 0 0 MARY E FRANK TRUSTEE 1.00 X 0 0 0 LYLE ASHTON HARRIS TRUSTEE 1.00 X 0 0 0 PROFESSOR WALTER J HOOD TRUSTEE 1.00 X 0 0 0 PROFESSOR THOMAS FORREST KELLY TRUSTEE 1.00 X 0 0 0 DAVID I KERTZER TRUSTEE 1.00 X 0 0 0 DR DAVID A LANG TRUSTEE 1.00 X 0 0 0 PAUL S LEVY TRUSTEE 1.00 X 0 0 0 THOMAS MAYNE TRUSTEE 1.00 X 0 0 0 WILLIAM B MCGURN III TRUSTEE 1.00 X 0 0 0 ROBERTO A MIGNONE TREASURER 1.00 X X 0 0 0 DR HELEN NAGY TRUSTEE 1.00 X 0 0 0 BRUCE NAUMAN TRUSTEE 1.00 X 0 0 0 JAMES PALLOTTA TRUSTEE 1.00 X 0 0 0 JESSIE PRICE TRUSTEE 1.00 X 0 0 0 FRANCINE C PROSE TRUSTEE 1.00 X 0 0 0 PROFESSOR MICHAEL CJPUTNAM TRUSTEE 1.00 X 0 0 0 MICHAEL ROCK TRUSTEE 1.00 X 0 0 0 JOHN FW ROGERS TRUSTEE 1.00 X 0 0 0 LOUISA STUDE SAROFIM TRUSTEE 1.00 X 0 0 0 PROFESSOR FRANK M SNOWDEN TRUSTEE 1.00 X 0 0 0 DAVID M STONE TRUSTEE 1.00 X 0 0 0 ROBERT STORR TRUSTEE 1.00 X 0 0 0 PROFESSOR STEVEN STUCKY TRUSTEE 1.00 X 0 0 0 CALVIN TSAO TRUSTEE 1.00 X 0 0 0 ADAM D WEINBERG TRUSTEE 1.00 X 0 0 0 CHARLES K WILLIAMS TRUSTEE 1.00 X 0 0 0 TOD WILLIAMS TRUSTEE 1.00 X 0 0 0 FRED D WILSON TRUSTEE 1.00 X 0 0 0 BARBARA ZALAZNICK TRUSTEE 1.00 X 0 0 0 PAUL FRANCIS VP FOR FINANCE AND ADMIN. 50.00 X X 99103 0 11842 THOMAS NEWMAN VP FOR FINANCE AND ADMIN. 50.00 X X 44285 0 5943 CHRISTINE BEGLEY VP FOR DEVELOPMENT 50.00 X 206667 0 26271 PAOLA GAETANI GENERAL MANAGER 50.00 X 149040 0 39687 CRISTINA PUGLISI DEPUTY DIRECTOR 50.00 X 145536 0 29011 SEBASTIAN HIERL DRUE HEINZ LIBRARIAN 50.00 X 123074 0 1902 1344657 0 179585 8 0 1 0 CONZORZIO ISTANT SERVICE VIA ROBERTO AGO 68/70 ROME IT 00166 KITCHEN STAFFING 156839 TRUSTEES OF THE UNIVERSITY OF PENNSYLVAN 3451 WALNUT STREET PHILADELPHIA PA 19104 ROME DIRECTION 134500 MONTICELLO ASSOCIATES 1800 LARIMER STREET DENVER CO 80202 INVESTMENT MANAGEMENT 125000 3 988504 81599 2853234 88499 3923337 PROGRAM RENTAL INCOME 711190 1381337 1381337 TUITION & FEES 611710 783332 783332 2164669 468977 37982 430995 1193617 1155066 38551 38551 38551 24073623 19463002 4610621 4610621 4610621 219070 988504 219070 0 OTHER REVENUE 900099 4367 4367 4367 11210522 2164669 37982 5084534 821300 821300 26400 26400 1059137 358460 301537 399140 3123701 2445009 219680 459012 103519 97067 707 5745 398656 280752 44717 73187 681934 456580 84919 140435 50709 48535 2174 58579 58579 358288 358288 1131734 917388 141537 72809 83078 43701 19351 20026 971784 869042 53696 49046 1787986 1425454 188734 173798 318784 241870 28231 48683 181979 134038 12514 35427 1072672 1031300 16310 25062 GALA EVENT EXPENSES 286784 286784 TEMPORARY HELP 25758 25671 51 36 MISCELLANEOUS 9197 7464 1733 12551979 9230031 1531025 1790923 3181166 3193507 2531438 2442455 825696 878755 37714689 20072539 18501001 17642150 33075471 34243377 63194275 61653262 16338 24838 121325385 120078344 1395976 1708312 146916 650430 889222 911190 2432114 3269932 X 38034771 37125622 29982622 28799912 50875878 50882878 118893271 116808412 121325385 120078344 X -1341457 -510225 -233177 X 0 1 X 1 0 X 6237589 8904168 6006199 4967034 3923337 30038327 6237589 8904168 6006199 4967034 3923337 30038327 3724940 26313387 1640969 1339753 1308493 1633837 1662594 7585646 25303 39595 77625 29666 172189 13276 21697 31670 5426 4367 76436 37872598 10010628 0.69480 0.72080 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X 0 94509189 481779 4211751 686000 4746940 93769779 106313752 2178438 -8567836 696000 4719165 94509189 95976709 2584405 12947974 718900 4476436 106313752 85297290 3252923 12030490 630250 3973744 95976709 86386439 1211773 1603319 605200 3299041 85297290 0.21650 0.54260 0.24080 0 0 31130661 13061221 18069440 6584028 7011318 -427290 0 17642150 -97122 F DAVIDSON KEMPNER INSTITUTIONAL PARTNERS,LP 6640241 F NEW CENTURY HOLDINGS XI,LP 121039 F FARALLON CAPITAL INSTITUTIONAL PARTNERS,LP 6431340 F NEWPORT ASIA INSTITUTIONAL FUND, LLC 3088218 F HEISKELL PRIVATE PLACEMENT 11607 F ADAMAS PARTNERS, LP 3710374 F ADAMAS OPPORTUNITIES, LP 3732951 F TACONIC OPPORTUNITY OFFSHORE FUND 3917364 F LANSDOWNE EUROPEAN EQUITY FUND 3310621 F SEMPER VIC PARTNERS, L.P. 9790471 F WAMCO US CORE BOND FUND 10633828 F MW EUREKA FUND 3067631 F HIGHCLERE 3058567 F CEVIAN CAPITAL II, LTD 4236132 F 61653262 SEVERANCE LIABILITIES 823913 OTHER LIABILITIES 87277 911190 10342009 -510225 -510225 10852234 358288 358288 11210522 12426868 233177 233177 12193691 358288 358288 12551979 PART III, LINE 4: THE ARTHUR AND JANET C. ROSS LIBRARY OF THE AMERICAN ACADEMY IN ROME CONTAINS OVER 167,000 VOLUMES IN THE FIELDS OF CLASSICAL STUDIES, AND THE HISTORY OF ART AND ARCHITECTURE. ESPECIALLY STRONG, ARE THE COLLECTIONS IN ANCIENT MEDITERRANEAN ARCHAEOLOGY AND ART, GREEK AND LATIN LITERATURE, ANCIENT TOPOGRAPHY (INCLUDING THE HISTORY OF THE CITY OF ROME), ANCIENT RELIGIONS, AND RELATED FIELDS SUCH AS EPIGRAPHY, NUMISMATICS AND PAPYROLOGY. THE RARE BOOK COLLECTION COMPRISES CHIEFLY 16TH-18TH CENTURY IMPRINTS IN CLASSICAL STUDIES, ARCHAEOLOGY, ART AND ARCHITECTURE, INCLUDING SIZEABLE COLLECTIONS OF ROMAN GUIDEBOOKS AND EARLY ART TREATISES. THE PHOTOGRAPHIC ARCHIVE OF THE AMERICAN ACADEMY IN ROME CONSISTS OF SEVERAL VALUABLE AND SPECIALIZED COLLECTIONS OF PHOTOGRAPHS ON ARCHAEOLOGY, ARCHITECTURE AND ART, AS WELL AS LANDSCAPE ARCHITECTURE AND GARDENS. IT ALSO INCLUDES SPECIAL COLLECTIONS IMPORTANT TO THE HISTORY OF THE ACADEMY. THE AMERICAN ACADEMY IN ROME MAINTAINS A SMALL BUT VARIED COLLECTION OF ARCHAEOLOGICAL ARTIFACTS AVAILABLE FOR STUDY. THE COLLECTION INCLUDES POTTERY, FROM GREEK GEOMETRIC VASES OF THE EIGHTH CENTURY BC TO ROMAN COMMON WARE OF THE LATER EMPIRE, ARCHITECTURAL TERRACOTTAS, CINERARY URNS, VOTIVE OBJECTS, JEWELRY, COINS, OIL LAMPS, ALL SORTS OF SCULPTURE (IN TERRACOTTA AND STONE, IN RELIEF AND IN THE ROUND), ETRUSCAN MIRRORS, AND SAMPLES OF THE MOST IMPORTANT ANCIENT MARBLE TYPES. THESE MATERIALS ARE USED FOR EDUCATION, STUDY, AND RESEARCH PURPOSES. PART V, LINE 4: THE ENDOWMENT FUNDS GENERATE ONGOING SUPPORT FOR THE ACADEMY'S PROGRAMS. THE MAJORITY OF THE INCOME SUPPORTS THE COST OF FELLOWSHIPS AND RESIDENCIES, AS WELL AS THE OPERATION OF THE ACADEMY'S LIBRARY. PART XII, LINE 2D - OTHER ADJUSTMENTS: FOREIGN CURRENCY TRANSLATION ADJUSTMENT 182,625. NET IMPACT OF FOREIGN CURRENCY PROGRAM 50,552. 0 EUROPE 1 45 PROGRAM SERVICES OPERATION OF RESIDENTIAL RESEARCH CENTER 5959422 EUROPE 1 3 MANAGEMENT AND GENERAL (JANUS, S.U.R.L.) 773426 EUROPE 0 0 GRANTS TO RECIPIENTS LOCATED IN THE REGION 28900 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PASSIVE INVESTMENTS 17711354 2 48 0 0 2 48 24473102 0 24473102 FELLOWSHIPS EUROPE 4 26400 BANK CHECK 1 0 0 1 0 0 PART I, LINE 2: STIPENDS AND SCHOLARSHIPS ARE AWARDED TO COVER LIVING EXPENSES WHILE PARTICIPATING IN ACADEMY PROGRAMS. IN ORDER TO RECEIVE THE AWARDS, WHICH ARE PAID MONTHLY, THE RECIPIENTS MUST BE ON SITE AT THE PROGRAM. STIPENDS AND SCHOLARSHIPS MAY BE USED BY THE RECIPIENT AS THEY WISH TO COVER THEIR LIVING EXPENSES WHILE PARTICIPATING IN A FELLOWSHIP OR SUMMER PROGRAM. NY GALA 736877 624535 112342 112342 ROME - GALA 470697 371320 99377 99377 1 0 -7351 7351 7351 1207574 988504 219070 219070 219070 0 1 FELLOWSHIPS 31 816500 EDUCATIONAL 4 4800 PART I, LINE 2: STIPENDS AND SCHOLARSHIPS ARE AWARDED TO COVER LIVING EXPENSES WHILE PARTICIPATING IN ACADEMY PROGRAMS. IN ORDER TO RECEIVE THE AWARDS, WHICH ARE PAID MONTHLY, THE RECIPIENTS MUST BE ON SITE AT THE PROGRAM. STIPENDS AND SCHOLARSHIPS MAY BE USED BY THE RECIPIENT AS THEY WISH TO COVER THEIR LIVING EXPENSES WHILE PARTICIPATING IN A FELLOWSHIP OR SUMMER PROGRAM. X X 1 1 X X X X 0 0 0 0 0 0 0 0 0 MARK ROBBINS PRESIDENT 408265 0 0 0 0 0 21200 0 9603 0 439068 0 0 0 KIMBERLY BOWES DIRECTOR 168687 0 0 0 0 0 15182 0 18944 0 202813 0 0 0 CHRISTINE BEGLEY VP FOR DEVELOPMENT 206667 0 0 0 0 0 16533 0 9738 0 232938 0 0 0 PAOLA GAETANI GENERAL MANAGER 149040 0 0 0 0 0 0 0 39687 0 188727 0 0 0 CRISTINA PUGLISI DEPUTY DIRECTOR 145536 0 0 0 0 0 11643 0 17368 0 174547 0 0 0 PART I, LINE 1B PROVISION OF RESIDENCY FOR KIM BOWES IS STIPULATED BY CONTRACT AS A CONDITION OF EMPLOYMENT. PROVISION OF RESIDENCE FOR PAOLA GAETANI IS FOR PERSONAL USE AND IS ACCORDINGLY INCLUDED IN HER REPORTED COMPENSATION. THE PRESIDENT OF THE ACADEMY RECEIVES PAID MEMBERSHIP IN TWO SOCIAL CLUBS IN WHICH MEMBERSHIP ALSO SERVES A RELATED BUSINESS PURPOSE FOR THE ACADEMY. X 7 88499 AVERAGE VALUE 0 1 0 FORM 990, PART VI, SECTION A, LINE 1 THE BOARD APPOINTS AN EXECUTIVE COMMITTEE WHICH HAS GENERAL POWER TO CONTROL AND MANAGE THE AFFAIRS AND PROPERTY OF THE ACADEMY. AT LEAST ONE THIRD OF THE EXECUTIVE COMMITTEE MEMBERS SHALL BE ACTIVELY ENGAGED IN ONE OR MORE BRANCHES OF STUDY IN WHICH THE ACADEMY AWARDS FELLOWSHIPS. THE CHAIRMAN OF THE BOARD AND THE PRESIDENT ARE MEMBERS OF THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION A, LINE 7A THE ACADEMY HAS AN ADVISORY COUNCIL TO THE COMMITTEE ON THE SCHOOL OF CLASSICAL STUDIES. THE MEMBERS OF THE ADVISORY COUNCIL REPRESENT ACADEMIC INSTITUTIONS WHICH ANNUALLY CONTRIBUTE FUNDS TO THE ACADEMY. THE BOARD OF TRUSTEES SHALL ELECT TO ITS NUMBER EVERY THREE YEARS FOR A THREE YEAR TERM A PERSON NOMINATED BY THE ADVISORY COUNCIL. FORM 990, PART VI, SECTION B, LINE 11 THE FORM 990 IS REVIEWED BY THE ACADEMY'S FINANCE TEAM, THEN DISTRIBUTED TO THE AUDIT COMMITTEE OF THE BOARD FOR APPROVAL. UPON THE APPROVAL FROM THE AUDIT COMMITTEE, A COPY OF THE FORM 990 IS DISTRIBUTED TO EACH MEMBER OF THE BOARD OF TRUSTEES. THE MEMBERS OF THE BOARD OF TRUSTEES ARE ASKED TO REVIEW THE FORM 990 AND IDENTIFY ANY QUESTIONS OR COMMENTS THEY HAVE REGARDING THE FORM 990 BEFORE ITS SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C A POTENTIAL CONFLICT OF INTEREST IS REPORTED TO THE RELEVANT COMMITTEE AND / OR TO THE FULL BOARD OF TRUSTEES. IN ACCORDANCE WITH THE ACADEMY'S CONFLICT OF INTEREST POLICY, WHEN ANY CONFLICT OF INTEREST IS RELEVANT TO A MATTER REQUIRING ACTION BY THE BOARD OF TRUSTEES, THE TRUSTEE CONCERNED SHALL NOT VOTE ON THE MATTER. MOREOVER, THE PERSON HAVING A CONFLICT SHALL RETIRE FROM THE ROOM IN WHICH THE BOARD IS MEETING AND SHALL NOT PARTICIPATE IN THE FINAL DELIBERATION OR DECISION REGARDING THE MATTER UNDER CONSIDERATION. HOWEVER, THAT PERSON MAY PROVIDE THE BOARD OR COMMITTEE WITH ANY AND ALL RELEVANT INFORMATION BEFORE RETIRING. THE MINUTES OF THE MEETING OF THE BOARD OR COMMITTEE SHALL REFLECT THAT THE CONFLICT OF INTEREST WAS DISCLOSED AND THAT THE INTERESTED PERSON WAS NOT PRESENT DURING THE FINAL DISCUSSION OR VOTE AND DID NOT VOTE. WHEN THERE IS A DOUBT AS TO WHETHER A CONFLICT OF INTEREST EXISTS, THE MATTER SHALL BE RESOLVED BY VOTE OF THE BOARD OF TRUSTEES OR ITS COMMITTEE, EXCLUDING FROM THE ROOM AND THE VOTE THE PERSON WHOSE SITUATION WILL BE DISCUSSED. TRUSTEES ARE REQUIRED TO COMPLETE AND SIGN AN ACKNOWLEDGMENT OF THE CONFLICT OF INTEREST POLICY AND A DISCLOSURE OF ANY KNOWN CONFLICTS UPON BECOMING A TRUSTEE OR OFFICER AND ANNUALLY THEREAFTER. FORM 990, PART VI, SECTION B, LINE 15A THE PRESIDENT'S COMPENSATION IS REVIEWED BY A COMPENSATION COMMITTEE MADE UP OF FOUR BOARD MEMBERS, INCLUDING THE CHAIRMAN OF THE BOARD AND THE CHAIR OF THE EXECUTIVE COMMITTEE. THE PRESIDENT'S COMPENSATION IS REVIEWED ANNUALLY. THE COMPENSATION COMMITTEE RECEIVES A SCHEDULE OF ALL OFFICERS AND KEY EMPLOYEES COMPENSATION HISTORY. IN ADDITION, THEY REVIEW COMPENSATION INFORMATION OBTAINED FROM OUTSIDE SOURCES SUCH AS SURVEYS AND FORM 990S FOR COMPARABLE ORGANIZATIONS. THE COMMITTEE SETS THE PRESIDENT'S COMPENSATION AND ADVISES REGARDING COMPENSATION OF OTHER OFFICERS AND KEY EMPLOYEES. THE COMPENSATION OF ALL OTHER KEY STAFF IS SET ANNUALLY BY THE PRESIDENT AFTER A PERFORMANCE REVIEW. THE COMPENSATION COMMITTEE OF THE BOARD REVIEWS THE COMPENSATION HISTORY OF ALL KEY STAFF ON AN ANNUAL BASIS. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF THE ORGANIZATION'S BY-LAWS, AUDITED FINANCIAL STATEMENTS, AND CONFLICT OF INTEREST POLICY ARE AVAILABLE UPON REQUEST. FORM 990, PART XI, LINE 9: FOREIGN CURRENCY TRANSLATION ADJUSTMENT -182,625. NET IMPACT OF FOREIGN CURRENCY PROGRAM -50,552. FORM 990 - AMENDED RETURN FOLLOWING THE COMPLETION OF THE REVIEW REPORT OF THE ORGANIZATION'S FINANCIAL STATEMENTS, THE FOLLOWING HAVE BEEN AMENDED: PART I, LINES 8 AND 9 PART III, LINES 4A AND 4C PART VI, LINE 11A PART VIII, LINES 1F AND 2B SCHEDULE A, PART II, LINE 1 JANUS SURL LARGO DI PORTA S PANCRAZIO 1 ROME IT 00153 EVENT SPACE RENTAL IT 1193617 940889 AMERICAN ACADEMY IN ROME