2026-04-16T12:50:37-05:00 2025-06-30 135565207 KPMG LLP TWO MANHATTAN WEST 375 9TH AVENUE NEW YORK NY 10001 990 2024-07-01 133234632 THE ASIA SOCIETY ASIA 2122886400 725 PARK AVENUE NEW YORK NY 100215088 KEVIN HOGAN CFO 2122886400 2026-04-13 1 0 TOBY RUTH FRIEDMAN KERSLAKE P01875806 2127589700 2026-04-13 2024 2025-03-06 01:10:19Z KYUNG-WHA KANG 725 PARK AVENUE NEW YORK NY 100215088 40731975 0 X WWW.ASIASOCIETY.ORG X 1956 NY THE SOCIETY IS AN INTERNATIONAL NONPROFIT NONPARTISAN ORGANIZATION, SEE SCHEDULE O. 67 65 215 99 0 0 24846333 18590059 786740 1038686 3629125 9079764 1614521 896878 30876719 29605387 1520242 1065897 0 0 17778451 17796957 0 0 2670217 14836288 13423452 34134981 32286306 -3258262 -2680919 126639988 123532820 16531371 16119378 110108617 107413442 X THE SOCIETY IS AN INTERNATIONAL NONPROFIT, NONPARTISAN ORGANIZATION WHICH CONNECTS PEOPLE AND INSTITUTIONS IN ASIA AND THE WORLD TO BUILD UNDERSTANDING, ADDRESS CHALLENGES AND MAXIMIZE OPPORTUNITIES. 0 0 12137379 647329 731138 POLICY AND BUSINESS PROGRAM DIVISION - THE ASIA SOCIETY POLICY INSTITUTE HAS BEEN RANKED IN THE TOP 1% OF THINK TANKS AROUND THE WORLD BY THE UNIVERSITY OF PENNSYLVANIA'S THINK TANKS AND CIVIL SOCIETY'S PROGRAM. WITH A PROBLEM-SOLVING MANDATE, THE ASIA SOCIETY POLICY INSTITUTE (ASPI) TACKLES MAJOR POLICY CHALLENGES NOW CONFRONTING THE ASIA-PACIFIC IN SECURITY, PROSPERITY, SUSTAINABILITY, AND THE DEVELOPMENT OF COMMON NORMS AND VALUES FOR THE REGION. POLICY WORK IS ALSO CARRIED OUT BY OUR CENTER ON U.S. CHINA RELATIONS AND OUR NEW YORK PUBLIC PROGRAMS DEPARTMENT. FOR MORE INFORMATION, SEE SCHEDULE O. 5758148 251868 ART AND CULTURAL PROGRAMS DIVISION - THE SOCIETY'S ART AND CULTURAL PROGRAMS DIVISION EXPLORES THE VITAL EXPRESSIONS OF DIVERSE ASIAN CULTURES THROUGH EXHIBITIONS, PERFORMANCES, FILMS, LECTURES, AND SYMPOSIA. FOR MORE INFORMATION, SEE SCHEDULE O. 1914833 COMMUNICATIONS DIVISION - THE SOCIETY PURSUES ITS MISSION TO EDUCATE THE PUBLIC THROUGH INNOVATIVE ONLINE PROGRAMMING ACTIVITIES. THE WORK OF THE ONLINE OUTREACH DIVISION INCLUDES CONTRIBUTIONS FROM HEADQUARTERS AS WELL AS OUR SIXTEEN OTHER CENTERS AND BRANCHES AROUND THE WORLD. IT OVERSEES THE WEBSITE WHICH PROVIDES INFORMATION ABOUT ASIA SOCIETY PROGRAMS AS WELL AS CONTENT GENERATED SPECIFICALLY FOR THE SITE ON TOPICS OF CURRENT INTEREST. FOR MORE INFORMATION, SEE SCHEDULE O. 3988642 418568 55680 3988642 418568 55680 23799002 1 1 0 0 0 0 0 1 0 1 1 1 0 0 1 1 1 0 0 1 1 1 1 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 1 195 0 1 215 1 0 1 CH 0 0 0 1 1 0 0 0 0 0 0 X 67 65 1 0 1 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 AL AK AZ CA CO CT DC FL GA HI IL KS KY LA MA ME MD MI MN MS MO NV NH NJ NM NY NC OH OK OR PA RI SC TN UT VA WA WV WI X X KEVIN HOGAN 2123279402 725 PARK AVENUE NEW YORK NY 10021 KYUNG-WHA KANG PRESIDENT & CEO 40.00 0.00 X X 511089 0 10500 HAMID BIGLARI VICE CHAIR 1.00 0.00 X X 0 0 0 CHAN HENG CHEE CO-CHAIR 1.00 0.00 X X 0 0 0 BETSY Z COHEN VICE CHAIR & SECRETARY 1.00 0.00 X X 0 0 0 ROBERT NIEHAUS TREASURER 1.00 0.00 X X 0 0 0 JOHN L THORNTON CO-CHAIR 1.00 0.00 X X 0 0 0 LULU C WANG VICE CHAIR 1.00 0.00 X X 0 0 0 NICOLAS AGUZIN TRUSTEE 1.00 0.00 X 0 0 0 HRH TURKI AL FAISAL TRUSTEE 1.00 0.00 X 0 0 0 EDWARD R ALLEN III TRUSTEE 1.00 0.00 X 0 0 0 ISAAC APPLBAUM TRUSTEE 1.00 0.00 X 0 0 0 MOHIT ASSOMULL TRUSTEE 1.00 0.00 X 0 0 0 NICOLAS BERGGRUEN TRUSTEE 1.00 0.00 X 0 0 0 J FRANK BROWN TRUSTEE 1.00 0.00 X 0 0 0 RABBI ANGELA BUCHDAHL TRUSTEE 1.00 0.00 X 0 0 0 MICHAEL S CHAE TRUSTEE 1.00 0.00 X 0 0 0 ALBERT CHAO TRUSTEE 1.00 0.00 X 0 0 0 PURNENDU CHATTERJEE TRUSTEE 1.00 0.00 X 0 0 0 DUNCAN CLARK TRUSTEE 1.00 0.00 X 0 0 0 HENRY CORNELL TRUSTEE 1.00 0.00 X 0 0 0 FREDERICK M DEMOPOULOS TRUSTEE 1.00 0.00 X 0 0 0 SERGE DUMONT TRUSTEE - END 12/24 1.00 0.00 X 0 0 0 J MICHAEL EVANS TRUSTEE 1.00 0.00 X 0 0 0 STUART FULLER TRUSTEE - EFFECTIVE 04/25 1.00 0.00 X 0 0 0 JAMSHYD GODREJ TRUSTEE 1.00 0.00 X 0 0 0 MARTYN GOOSSEN TRUSTEE - EFFECTIVE 10/24 1.00 0.00 X 0 0 0 FILIPPO GORI TRUSTEE 1.00 0.00 X 0 0 0 EVAN G GREENBERG TRUSTEE - END 01/25 1.00 0.00 X 0 0 0 SUSAN S HAKKARAINEN TRUSTEE 1.00 0.00 X 0 0 0 GEORGE G HICKS TRUSTEE 1.00 0.00 X 0 0 0 DORIS MAGSAYSAY HO TRUSTEE 1.00 0.00 X 0 0 0 W BRADFORD HU TRUSTEE 1.00 0.00 X 0 0 0 STEPHANIE HUI TRUSTEE 1.00 0.00 X 0 0 0 OMAR ISHRAK TRUSTEE 1.00 0.00 X 0 0 0 SANGITA JINDAL TRUSTEE 1.00 0.00 X 0 0 0 K S SONNY KALSI TRUSTEE 1.00 0.00 X 0 0 0 ADRIAN T KELLER TRUSTEE 1.00 0.00 X 0 0 0 JOHN KEOGH TRUSTEE - EFFECTIVE 04/25 1.00 0.00 X 0 0 0 MAHMOOD J KHIMJI TRUSTEE 1.00 0.00 X 0 0 0 CHRIS KOJIMA TRUSTEE - EFFECTIVE 10/24 1.00 0.00 X 0 0 0 JAMES KONDO TRUSTEE 1.00 0.00 X 0 0 0 KUO CHUAN KC KUNG TRUSTEE 1.00 0.00 X 0 0 0 CHONG-MOON LEE TRUSTEE 1.00 0.00 X 0 0 0 SEUNG-YOON SY LEE TRUSTEE 1.00 0.00 X 0 0 0 JOSEPHINE LINDEN TRUSTEE 1.00 0.00 X 0 0 0 IDA LIU TRUSTEE 1.00 0.00 X 0 0 0 JEAN LIU TRUSTEE 1.00 0.00 X 0 0 0 GEOFF MARTHA TRUSTEE 1.00 0.00 X 0 0 0 ASHEET MEHTA TRUSTEE 1.00 0.00 X 0 0 0 VALI NASR TRUSTEE - EFFECTIVE 10/24 1.00 0.00 X 0 0 0 JOHN D NEGROPONTE TRUSTEE 1.00 0.00 X 0 0 0 THIERRY PORTE TRUSTEE 1.00 0.00 X 0 0 0 PHILIP QU TRUSTEE 1.00 0.00 X 0 0 0 EMILY K RAFFERTY TRUSTEE 1.00 0.00 X 0 0 0 RAJ RAO TRUSTEE 1.00 0.00 X 0 0 0 STEPHEN RIADY TRUSTEE 1.00 0.00 X 0 0 0 GARY RIESCHEL TRUSTEE 1.00 0.00 X 0 0 0 CHARLES P ROCKEFELLER TRUSTEE 1.00 0.00 X 0 0 0 NICOLAS ROHATYN TRUSTEE 1.00 0.00 X 0 0 0 STEPHEN A SCHWARZMAN TRUSTEE 1.00 0.00 X 0 0 0 NEIL SHEN TRUSTEE 1.00 0.00 X 0 0 0 KATIE SOO TRUSTEE 1.00 0.00 X 0 0 0 JANE JIE SUN TRUSTEE 1.00 0.00 X 0 0 0 Y PING SUN TRUSTEE - END 07/24 1.00 0.00 X 0 0 0 VIVIENNE TAM TRUSTEE 1.00 0.00 X 0 0 0 JESSICA TAN TRUSTEE - EFFECTIVE 04/25 1.00 0.00 X 0 0 0 ERNIE THRASHER TRUSTEE 1.00 0.00 X 0 0 0 MARK E TUCKER TRUSTEE 1.00 0.00 X 0 0 0 EUNICE ZEHNDER-LAI TRUSTEE - END 08/24 1.00 0.00 X 0 0 0 JAMES D ZIRIN TRUSTEE 1.00 0.00 X 0 0 0 FERNANDO ZOBEL DE AYALA TRUSTEE 1.00 0.00 X 0 0 0 DEBRA EISENMAN EVP & CHIEF OPERATING OFFICER 40.00 0.00 X 367961 0 67524 SHANE WILLIAMS-NESS CHIEF DEVELOPMENT OFFICER 40.00 0.00 X 270075 0 47833 KEVIN HOGAN CHIEF FINANCIAL OFFICER 40.00 0.00 X 270762 0 16784 WENDY CUTLER VP & MD, WASHINGTON DC OFFICE 40.00 0.00 X 324862 0 21115 DANIEL RUSSEL VP, INT'L SEC & DIPLOMACY - END 6/25 40.00 0.00 X 325088 0 20129 ORVILLE SCHELL VP, CTR US-CHINA REL/ARTHUR ROSS DIR 40.00 0.00 X 310058 0 35066 YASUFUMI NAKAMORI VP, ARTS & CULTURE - END 4/25 40.00 0.00 X 264311 0 21000 AALOK KANANI CHIEF DIGITAL & COMM. OFFICER 40.00 0.00 X 278199 0 23939 2922405 0 263890 44 0 1 0 VELOCITY GLOBAL LLC 3858 WALNUT ST SUITE 101 DENVER CO 80205 PROFESSIONAL SERVICES 283726 UNIVERSAL SERVICES OF AMERICA LP BOX 828854 PHILADELPHIA PA 191828854 SECURITY SERVICES 221679 KPMG LLP 3 CHESTNUT RIDGE ROAD MONTVALE NJ 07645 AUDIT AND TAX SERVICES 128575 FRESH MEADOW MECHANICAL SVC LLC 65-01 FRESH MEADOW LANE FRESH MEADOWS NY 11365 PROFESSIONAL SERVICES 118098 4 908583 1876279 731347 15073850 335184 18590059 GLOBAL POL. & BUSINESS 900099 635070 635070 PROGRAM ADMISSION FEES 900099 319362 319362 CO-SPONSOR FEE 900099 63852 63852 EDUCATIONAL PROG. REV. 900099 20402 20402 1038686 1589223 1589223 299777 299777 380411 9259 371152 371152 371152 18063596 10573055 7490541 7490541 7490541 536980 1876279 441270 95710 95710 233243 103004 130239 130239 29605387 1038686 0 9976642 X 261651 261651 22000 22000 782246 782246 1701365 877979 434826 388560 178576 178576 12723507 9661152 1853916 1208439 570291 433297 85826 51168 1538581 1079824 306391 152366 1084637 922841 26341 135455 112193 57504 54521 168 158182 158182 487346 487346 3440762 3067565 244067 129130 74329 74329 1798321 1039679 545815 212827 965323 185511 692385 87427 1585795 1346344 177980 61471 1483227 1357421 76361 49445 107288 92749 9274 5265 505320 411835 65692 27793 1486826 1211550 193353 81923 355108 75920 279188 EQUIP RENTAL & MAINT 791620 601212 116038 74370 PRINTING & PUBLICATIONS 71812 57817 9585 4410 32286306 23799002 5817087 2670217 3040434 1659429 6193530 3946518 10681407 7064565 1888823 521660 68562 60108 370585 889145 57737399 43151428 15748218 14585971 35877935 39689554 51728247 53471617 1042247 1644253 126639988 123532820 2941895 2458578 13419692 12982556 169784 678244 16531371 16119378 X 137123 1056978 109971494 106356464 110108617 107413442 126639988 123532820 X -2680919 -12718 -1538 X 0 1 X 1 0 X 26133222 22237396 22501928 24735974 18590059 114198579 26133222 22237396 22501928 24735974 18590059 114198579 18845246 95353333 1139514 1299768 1941909 2178002 2269411 8828604 224773 612886 2118458 1444070 770223 5170410 128197593 4028523 0.74380 0.76160 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: GROSS INCOME FROM SPECIAL EVENT - 2020 AMOUNT: $ 146,668. 2021 AMOUNT: $ 469,645. 2022 AMOUNT: $ 427,604. 2023 AMOUNT: $ 525,648. 2024 AMOUNT: $ 536,980. GROSS SALE OF INVENTORY - 2020 AMOUNT: $ 78,105. 2021 AMOUNT: $ 143,241. 2022 AMOUNT: $ 240,814. 2023 AMOUNT: $ 269,308. 2024 AMOUNT: $ 233,243. EMPLOYEE RETENTION CREDIT - 2022 AMOUNT: $ 1,450,040. 2023 AMOUNT: $ 649,114. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED X X X X 0 83888720 1000000 7942512 4365802 88465430 79262114 9319122 4692516 83888720 77710397 6044556 4492839 79262114 94301820 -11728747 4862676 77710397 75740096 9839 23212337 4660452 94301820 0.02278 0.00000 0.97722 0 0 2032010 2032010 39499687 27766037 11733650 16205702 15385391 820311 14585971 LONG/SHORT HEDGE FUNDS 9021274 F ABS. RETURN HEDGE FUNDS 18112139 F OTHER FUND OF FUNDS 4715522 F EMERGING MKT SECURITIES 6868330 F PRIVATE EQUITY 11504929 F DEVELOP. MKT EQUITY TRUST 3249423 F 53471617 LEASE LIABILITY UNDER OPERATING LEASE 678244 678244 X 29120338 -12718 -1538 -14256 29134594 487346 -16553 470793 29605387 31815513 16553 16553 31798960 487346 487346 32286306 PART III, LINE 1A: COLLECTION ITEMS THE ASIA SOCIETY MUSEUM COLLECTION IS NOTED FOR ITS MASTERPIECE-QUALITY OBJECTS AND THE SCHOLARLY IMPORT AWARDED TO THESE PIECES OF TRADITIONAL AND CONTEMPORARY ART. THE COLLECTION INCLUDES THE MR AND MRS JOHN D. ROCKEFELLER 3RD COLLECTION, WHICH IS PAN-ASIAN AND COMPRISES APPROXIMATELY 300 OBJECTS, RANGING IN DATE FROM THE SECOND MILLENNIUM B.C.E. TO THE 18TH CENTURY, FROM SUCH DIVERSE NATIONS AS INDIA, PAKISTAN, BANGLADESH, NEPAL, MYANMAR, THAILAND, CAMBODIA, VIETNAM, INDONESIA, CHINA, KOREA, AND JAPAN. IT INCLUDES BRONZE AND STONE SCULPTURES AS WELL AS CERAMICS, PAINTINGS, WOOD SCULPTURES, AND OTHER DECORATIVE ARTS. THE MAJORITY OF THE ROCKEFELLER COLLECTION WAS DONATED TO THE SOCIETY IN 1979. ADDITIONS SINCE THAT TIME CONSIST OF DONATIONS FROM THE ESTATE OF MRS. BLANCHETTE ROCKEFELLER, A FEW NOTABLE WORKS FROM OTHER DONORS AND THE ESTABLISHMENT IN 2007 OF A COLLECTION OF CONTEMPORARY ART PRIMARILY FOCUSED ON TIME-BASED MEDIA ART AND PHOTOGRAPHY. IN ADDITION TO FREQUENT DISPLAYS IN THE EXHIBITION GALLERIES AT THE SOCIETY, SELECTED WORKS FROM THE COLLECTION ARE ALSO SHOWN AS PART OF SPECIAL EXHIBITIONS EITHER AT THE SOCIETY OR IN MUSEUMS THROUGHOUT THE WORLD. WHEN NOT ON DISPLAY AT THE SOCIETY OR ON LOAN TO MUSEUMS FOR TEMPORARY EXHIBITIONS, THE OBJECTS ARE MAINTAINED IN CLIMATE-CONTROLLED STORAGE. THE SOCIETY MAINTAINS POLICIES AND PROCEDURES ADDRESSING THE ROCKEFELLER COLLECTION'S UPKEEP AS WELL AS OTHER ASPECTS OF ITS MANAGEMENT, INCLUDING ACCESSION/DEACCESSION POLICIES. THE SOCIETY HAS ADOPTED THE POLICY OF NOT CAPITALIZING ITS COLLECTION. DURING 2025 AND 2024, NO ART WAS ACQUIRED WITH DONOR-RESTRICTED FUNDS. PART III, LINE 4: ASIA SOCIETY'S COLLECTION FURTHERS THE EXEMPT PURPOSE OF THE ORGANIZATION BY PRESERVING ASIAN ART WORK FOR PUBLIC VIEWING AND IS USED IN EDUCATIONAL EXHIBITIONS AND PUBLICATIONS. PART V, LINE 4: THE PURPOSE OF THE ASIA SOCIETY'S ENDOWMENT FUNDS IS TO SUPPORT ITS OPERATING AND CAPITAL NEEDS INCLUDING SUPPORT OF THE SOCIETY'S PROGRAMS, BUILDINGS AND MAINTENANCE OF ITS ART COLLECTION. PART X, LINE 2: THE SOCIETY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE, EXCEPT FOR UNRELATED BUSINESS INCOME ACTIVITIES. IN ADDITION, THE SOCIETY IS TAX-EXEMPT FROM STATE AND LOCAL INCOME TAX FOR RELATED ACTIVITIES, PROPERTY TAXES, AND SALES TAX. THE SOCIETY HAS EVALUATED ITS TAX POSITIONS AND HAS DETERMINED THAT IT IS MORE LIKELY THAN NOT THAT THERE ARE NO SIGNIFICANT UNCERTAIN TAX POSITIONS AND THAT IT WILL CONTINUE TO BE EXEMPT FROM TAXES. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN VALUE OF INTEREST RATE SWAPS 98,554. UNCOLLECTIBLE PRIOR YEAR PLEDGES -100,092. PART XI, LINE 4B - OTHER ADJUSTMENTS: RECLASS OF COGS -103,004. RECLASS OF SPECIAL EVENTS 95,710. RECLASS OF RENTAL EXPENSES -9,259. PART XII, LINE 2D - OTHER ADJUSTMENTS: RECLASS OF COGS 103,004. RECLASS OF SPECIAL EVENTS -95,710. RECLASS OF RENTAL EXPENSES 9,259. 1 EAST ASIA AND THE PACIFIC 0 9 PROGRAM SERVICES CONSULTANT 273589 EUROPE 0 12 PROGRAM SERVICES CONSULTANT 448627 EUROPE 0 1 PROGRAM SERVICES EDITOR 1000 NORTH AMERICA 0 2 PROGRAM SERVICES INTERPRETER 3489 NORTH AMERICA 0 1 PROGRAM SERVICES EDITOR 800 NORTH AMERICA 0 1 PROGRAM SERVICES CONSULTANT 7500 SOUTH ASIA 0 1 PROGRAM SERVICES CONSULTANT 413 SOUTH ASIA 0 1 PROGRAM SERVICES EDITOR 1500 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES CONFERENCE 143496 EUROPE 0 0 PROGRAM SERVICES CONFERENCE 62492 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES CONFERENCE 54501 SOUTH ASIA 0 0 PROGRAM SERVICES CONFERENCE 5915 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING 285093 EUROPE 0 0 GRANTMAKING 175145 SOUTH ASIA 0 0 GRANTMAKING 322008 CENTRAL AMERICA/ CARIBBEAN 0 0 INVESTMENTS 22511240 EUROPE 0 0 INVESTMENTS 4078192 0 28 0 0 0 28 736918 27638082 28375000 EAST ASIA AND THE PACIFIC SUPPORT-PT V 120003 WIRE TRANSFER 0 EAST ASIA AND THE PACIFIC SUPPORT-PT V 26036 WIRE TRANSFER 0 EAST ASIA AND THE PACIFIC SUPPORT-PT V 30553 WIRE TRANSFER 0 EAST ASIA AND THE PACIFIC SUPPORT-PT V 100000 WIRE TRANSFER 0 SOUTH ASIA SUPPORT-PT V 322008 WIRE TRANSFER 0 EUROPE SUPPORT-PT V 175145 WIRE TRANSFER 0 6 0 SUPPORT-PT V EAST ASIA AND THE PACIFIC 1 3500 WIRE TRANSFER SUPPORT-PT V EAST ASIA AND THE PACIFIC 1 5000 WIRE TRANSFER 1 0 1 1 1 0 FORM 990, SCHEDULE F, PART I, LINE 2 MONITORING THE USE OF GRANTS OUTSIDE THE UNITED STATES INTERNATIONAL GRANTS WERE MADE TO THE ASIA SOCIETY AFFILIATES IN AUSTRALIA, FRANCE, HONG KONG, INDIA, JAPAN AND KOREA. THE PURPOSE OF THESE GRANTS IS TO SUPPORT THE MISSION OF THE CENTERS IN NAVIGATING SHARED FUTURES FOR ASIA AND THE WORLD IN THE FIELDS OF ARTS AND CULTURE, BUSINESS AND POLICY. THE USE OF THESE GRANTS IS MONITORED THROUGH MONTHLY CONFERENCE CALLS AND QUARTERLY FINANCIAL REPORTING. AWARDS ARE ALSO MADE TO THOSE WHO SUPPORT ASIA SOCIETY'S MISSION INCLUDING IMPACTFUL JOURNALISM KNOWN TO INFORM THE PUBLIC ABOUT ASIA AND IN ADDITION FOR NON-FICTION WORKS OF LITERATURE ON CHINA OR THE SINOPHONE WORLD. FORM 990, SCHEDULE F, PART I, LINE 3, COLUMN (D) ACTIVITIES CONDUCTED IN EAST ASIA AND THE PACIFIC INCLUDE SEVEN MEETINGS AND CONFERENCES: TOKYO QUAD ROUNDTABLE MEETING, TD2A BANGKOK CONVENING, TASK FORCE TOKYO TRILATERAL DIALOGUE, DRAGON & EAGLE: U.S. CHINA RISING LEADERS CONFERENCE, SCHWARZMAN SCHOLARS SEMINAR EVENT, ASIA 21 SUMMIT AND ASIA SOCIETY GLOBAL LEADERSHIP MEETING. ONE CONFERENCE IN MIDDLE EAST AND NORTH AFRICA: TD2A NAIROBI CONVENING. TWO MEETINGS IN SOUTH ASIA: DIALOGUE MEETING ON ETS BENCHMARK AND ASIA CLIMATE SUMMIT. TWO CONFERENCES IN EUROPE: FELLOWS CONFERENCE AND EU STUDY TOUR. FORM 990, SCHEDULE F, PART I, LINE 3, COLUMN (F) ASIA SOCIETY REPORTS EXPENDITURES ON THE ACCRUAL BASIS. FORM 990, SCHEDULE F, PART II, LINE 1, COLUMN (D) PURPOSE OF GRANT THE PURPOSE OF THE INTERNATIONAL GRANTS MADE IN FY25 WAS TO SUPPORT THE ASIA SOCIETY AUSTRALIA, FRANCE, HONG KONG, INDIA, JAPAN AND KOREA CENTERS. X X X X X X 0 AL AK AR CA CO CT DC FL GA HI IL KS KY LA ME MD MA MI MN MS MO NH NJ NM NC NV NY OH OK OR PA RI SC TN UT VA WA WV WI ANNUAL DINNER 1919000 1599139 319861 139998 145211 S. CALI DINNER 249259 125867 123392 88822 1 245000 151273 93727 36335 30904 2413259 1876279 536980 176333 264937 441270 95710 1 THE BOARD OF TRUSTEES OF THE LELAND STANFORD JUNIOR UNIVERSITY 485 BROADWAY MAIL CODE 8838 REDWOOD CITY CA 94063 941156365 501(C)(3) 236651 0 HOOVER FELLOWS SUBGRANT PAYMENT UNIVERSITY OF CALIFORNIA REGENTS(UC REGENTS) 9500 GILMAN DRIVE 0954 LA JOLLA CA 92093 956006144 501(C)(3) 25000 0 TASK FORCE ON US-CHINA POLICY SUBGRANT 2 0 BAIFANG SCHELL PRIZE 2 7000 OSBORN ELLIOT JOURNALISM PRIZE 2 15000 FORM 990, SCH I, PART I, LINE 2 MONITORING THE USE OF GRANTS IN THE UNITED STATES ASIA SOCIETY HAS AN ONGOING MULTI YEAR RELATIONSHIP WITH OUR GRANT RECIPIENTS AND MONITORS THEIR WORK AND GRANT FUND USAGE THROUGH THIS RELATIONSHIP. ASIA SOCIETY RECEIVES REPORTS FROM GRANTEES (USUALLY ANNUALLY), PER PROVIDED GUIDELINES, ON WORK COMPLETED AND EXPENSES INCURRED DURING THE PERIOD AT THE ACCOUNT LEVEL. FORM 990, SCH I, PART III, LINE 1A PURPOSE OF AWARDS THE OSBORN ELLIOTT PRIZE FOR EXCELLENCE IN JOURNALISM ON ASIA HONORS A LEGENDARY JOURNALIST WHOSE INCLUSIVE PUBLIC DIALOGUE AND CIVIC ENGAGEMENT CHARACTERIZED HIS LIFE'S WORK. CASH AWARDS TOTALING $10,500 ARE GIVEN TO INDIVIDUALS BOTH INSIDE AND OUTSIDE THE US, RECOGNIZING THE BEST EXAMPLES OF JOURNALISM ABOUT ASIA DURING THE CALENDAR YEAR. THE BAIFANG SCHELL BOOK PRIZE IS AN ANNUAL AWARD STARTED IN 2024 BY THE CENTER ON U.S.-CHINA RELATIONS PROGRAM, CHINA BOOK REVIEW IN CONJUNCTION WITH THE WIRE CHINA. THE PRIZE CELEBRATES EXCEPTIONAL BOOK-LENGTH WORKS ON OR FROM CHINA PUBLISHED IN ENGLISH IN TWO CATEGORIES, WITH CASH PRIZES TOTALING $20,000 AWARDED TO INDIVIDUALS BOTH INSIDE AND OUTSIDE OF THE US: OUTSTANDING NONFICTION BOOK ON CHINA OR THE SINOPHONE WORLD AND OUTSTANDING LITERATURE FROM OR ON CHINA OR THE SINOPHONE WORLD. X X X X 0 0 0 0 0 0 0 1 1 1 KYUNG-WHA KANG PRESIDENT & CEO 508333 0 0 0 2756 0 0 0 10500 0 521589 0 0 0 DEBRA EISENMAN EVP & CHIEF OPERATING OFFICER 307907 0 60000 0 54 0 19500 0 48024 0 435485 0 0 0 WENDY CUTLER VP & MD, WASHINGTON DC OFFICE 324100 0 0 0 762 0 19500 0 1615 0 345977 0 0 0 DANIEL RUSSEL VP, INT'L SEC & DIPLOMACY - END 6/25 325000 0 0 0 88 0 19500 0 629 0 345217 0 0 0 ORVILLE SCHELL VP, CTR US-CHINA REL/ARTHUR ROSS DIR 308822 0 0 0 1236 0 18787 0 16279 0 345124 0 0 0 SHANE WILLIAMS-NESS CHIEF DEVELOPMENT OFFICER 269937 0 0 0 138 0 16800 0 31033 0 317908 0 0 0 AALOK KANANI CHIEF DIGITAL & COMM. OFFICER 278199 0 0 0 0 0 16800 0 7139 0 302138 0 0 0 KEVIN HOGAN CHIEF FINANCIAL OFFICER 270000 0 0 0 762 0 16200 0 584 0 287546 0 0 0 YASUFUMI NAKAMORI VP, ARTS & CULTURE - END 4/25 264053 0 0 0 258 0 4985 0 16015 0 285311 0 0 0 PART I, LINE 7 THE EVP & CHIEF OPERATING OFFICER'S BONUS WAS SET AND REVIEWED BY THE COMPENSATION COMMITTEE AS CONTEMPORANEOUS REMUNERATION FOR ASSUMING THE INTERIM CEO POSITION. BONUSES PAID DURING THE CALENDAR YEAR ARE REPORTING ON SCHEDULE J, PART II COLUMN (B) (II). PART I, LINE 8 BASE COMPENSATION PAID TO THE PRESIDENT AND CEO WAS MADE PURSUANT TO A WRITTEN EMPLOYMENT AGREEMENT THAT IS SUBJECT TO THE INITIAL CONTRACT EXCEPTION. A BUILD NYC RESOURCE CORPORATION SERIES 2015 454040561 000000000 2015-07-01 16795000 REFIN 2000 TAX-EXEMPT BOND 0 0 0 A 3255000 16795000 335900 97499 16361601 2015 1 0 1 1 A 0 0 0 1 1 1 TORONTO DOMINION 30.000000000000 0 0 0 0 1 A 1 SCHEDULE K, PART I, BOND ISSUES: 2015 BOND ISSUE (A) ISSUER NAME: BUILD NYC RESOURCE CORPORATION (F) DESCRIPTION OF PURPOSE: REFINANCE AN OUTSTANDING 2000 TAX-EXEMPT BOND ISSUE (WHICH HAD BEEN USED TO FINANCE DESIGN, CONSTRUCTION AND RENOVATION OF EXISTING BUILDING) AND FINANCE COST OF ISSUING BOND. SCHEDULE K, PART IV, ARBITRAGE: THE REBATE COMPUTATION WAS PERFORMED FOR THE TAX YEAR ENDING 06/30/2025 AS NOTED IN THE REBATE REPORT DATED 07/25/2025. SHAY WESTER FAMILY MEMBER OF TRUSTEE 178576 FAMILY MEMBER COMPENSATED BY ORGANIZATION 0 X 3 0 X 6 304725 AVERAGE MARKET PRICE X AUCTION 18 30459 PER AUCTION PRICE 1 0 1 1 SCHEDULE M, PART I, COLUMN (B): THE NUMBER REPORTED ON LINE 1(B) REPRESENTS THE NUMBER OF ITEMS CONTRIBUTED. SCHEDULE M, LINE 31: THE ASIA SOCIETY HAS A GIFT ACCEPTANCE POLICY PERTAINING TO THE REVIEW OF POTENTIAL CONTRIBUTIONS OF ART. SCHEDULE M, LINE 32B: ASIA SOCIETY USED A THIRD PARTY TO DESIGN AND EXECUTE THE AUCTION. FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: THE SOCIETY IS AN INTERNATIONAL NONPROFIT NONPARTISAN ORGANIZATION WHICH CONNECTS PEOPLE AND INSTITUTIONS IN ASIA AND THE WORLD. FORM 990, PART III, LINE 4A POLICY AND BUSINESS PROGRAMS DIVISION THE ASIA SOCIETY POLICY INSTITUTE HAS BEEN RANKED IN THE TOP 1% OF THINK TANKS AROUND THE WORLD BY THE UNIVERSITY OF PENNSYLVANIA'S THINK TANKS AND CIVIL SOCIETY'S PROGRAM. WITH A PROBLEM-SOLVING MANDATE, THE ASIA SOCIETY POLICY INSTITUTE (ASPI) TACKLES MAJOR POLICY CHALLENGES NOW CONFRONTING THE ASIA-PACIFIC IN SECURITY, PROSPERITY, SUSTAINABILITY, AND THE DEVELOPMENT OF COMMON NORMS AND VALUES FOR THE REGION. POLICY WORK IS ALSO CARRIED OUT BY OUR CENTER ON U.S. CHINA RELATIONS AND OUR NEW YORK PUBLIC PROGRAMS DEPARTMENT. WITH TOP-LEVEL SENIOR STAFF, EXPERT FELLOWS, AND THE PREMIER ASIA-WIDE NETWORK OF ADVISORS AND CONTENT-SPECIFIC EXPERTS, ASPI PROVIDES A UNIQUE PLATFORM FOR POLICY DEVELOPMENT IN EXPLAINING AS WELL AS OFFERING UNIQUE POLICY SOLUTIONS FOR GLOBAL CHALLENGES. IT BOASTS AN ASIA-WIDE SCOPE, AND ENGENDERS BROAD INPUT AND PARTICIPATION FROM BUSINESS AND POLICY LEADERS, BRINGING DISPARATE VIEWS TOGETHER THROUGH ITS RENOWNED CONVENING AND RESEARCH CAPABILITIES. THIS FORMULA IS UNIQUELY SUITED TO ADVANCING INTERNATIONAL COOPERATION AND EFFECTIVE POLICYMAKING DURING A CENTURY IN WHICH ASIA'S INFLUENCE IS INCREASINGLY GAINING PROMINENCE. KEY ASPI INITIATIVES AND REPORTS INCLUDE RESEARCH ON THE REGIONAL SECURITY ORDER AND THE EFFECTS OF U.S.-CHINA STRATEGIC COMPETITION ON THE INDO-PACIFIC REGION; PROJECTS TO EXPLORE ECONOMIC SECURITY STRATEGIES AND PROVIDE POLICYMAKERS WITH RECOMMENDATIONS ON HOW TO ADVANCE REGIONAL AND BILATERAL TRADE AGREEMENTS IN AN INCREASINGLY COMPLEX TRADE LANDSCAPE; AND A CLIMATE INITIATIVE WHICH SEEKS TO ENCOURAGE AND CONTRIBUTE TO INDIA'S NATIONAL EMISSIONS TRADING SYSTEM POLICY THROUGH PROVIDING INPUT ON DESIGN AND BUILDING REGIONAL AND INTERNATIONAL CONNECTIONS. ASPI ALSO OFFERS PROGRAMS FOR YOUNG FEMALE PROFESSIONALS IN TRADE AND OTHER EMERGING LEADERS TO ENABLE THEM TO GAIN EXPERIENCE AND BUILD THEIR NETWORKS. WITHIN ASPI, THE CENTER FOR CHINA ANALYSIS (CCA) WAS ESTABLISHED IN 2022 TO PROVIDE POLICY-RELEVANT, OBJECTIVE ANALYSIS OF CHINA'S POLITICS, ECONOMY, AND SOCIETY AND ITS IMPACT ON THE REGION AND THE WORLD. CCA MAJOR INITIATIVES INCLUDE CURE4CANCER, ENCOURAGING MULTI-REGIONAL COLLABORATION FOCUSED ON CLINICAL TRIALS AND INTERNATIONAL REGULATORY HARMONIZATION, DECODING CHINESE POLITICS WHICH MAPS THE CHINESE GOVERNMENT'S INSTITUTIONS, NETWORKS AND DECISION MAKERS, AND THE TAIWAN POLICY DATABASE WHICH PRESENTS TAIWAN POLICY FROM THE PERSPECTIVES OF TAIWAN, CHINA AND THE UNITED STATES. THE CENTER ON U.S.-CHINA RELATIONS COMPLEMENTS THE WORK OF THE ASIA SOCIETY POLICY INSTITUTE, FOCUSING ON DIVERSE ISSUES IN CHINA AND THE U.S. IT WAS ESTABLISHED TO MEET THE NEED FOR A DEEPER UNDERSTANDING BETWEEN THE TWO COUNTRIES AND PROMOTE PUBLIC DIALOGUE IN ORDER TO STRENGTHEN U.S.-CHINA RELATIONS. THE CENTER ALSO CONVENES STAKEHOLDERS TO WORK ON MAJOR CHALLENGES AND EDUCATES THE AMERICAN AND INTERNATIONAL PUBLIC ON U.S.-CHINA ISSUES, COMMENTING ON AND DISTRIBUTING TIMELY INFORMATION ON CRITICAL TOPICS AND CURRENT EVENTS. ITS WORK SPANS ARTS AND CULTURE, POLICY, SUSTAINABILITY, AND ECONOMICS. IN ADDITION, ASIA SOCIETY PRODUCES CHINAFILE, AN ONLINE PUBLICATION FEATURING ARTICLES, PHOTOGRAPHY, AND MULTIMEDIA FROM AND ABOUT CHINA. FORM 990, PART III, LINE 4B ART AND CULTURAL PROGRAMS DIVISION THE SOCIETY'S ART AND CULTURAL PROGRAMS DIVISION EXPLORES THE VITAL EXPRESSIONS OF DIVERSE ASIAN CULTURES THROUGH EXHIBITIONS, PERFORMANCES, FILMS, LECTURES, AND SYMPOSIA. THE ASIA SOCIETY MUSEUM, LOCATED AT 725 PARK AVENUE, PRESENTS A WIDE RANGE OF ART EXHIBITIONS SHOWCASING THE WORK OF ASIAN AND ASIAN-AMERICAN ARTISTS, RANGING FROM TRADITIONAL TO CONTEMPORARY ARTISTS AND TAKING NEW APPROACHES TO FAMILIAR MASTERPIECES AS WELL AS INTRODUCING UNDER-RECOGNIZED ARTISTS. SEVERAL MAJOR THEMATIC EXHIBITIONS ARE PRESENTED EACH YEAR, DRAWING ON LOANS FROM OTHER INSTITUTIONS AND PRIVATE COLLECTIONS FROM AROUND THE WORLD, AS WELL AS THE SOCIETY'S PERMANENT COLLECTION, THE MR. AND MRS. JOHN D. ROCKEFELLER 3RD COLLECTION OF ASIAN ART. THESE EXHIBITIONS ARE USUALLY ACCOMPANIED BY CATALOGUES AND OTHER PUBLICATIONS, AND SOME EXHIBITIONS TOUR NATIONALLY AND INTERNATIONALLY. ASIA SOCIETY ALSO HOSTS PERFORMANCE PROGRAMS OF MUSIC, DANCE, THEATER, AND FILM FOCUSING ON TRADITIONAL PERFORMANCE GENRES OF ASIA, CONTEMPORARY PERFORMANCE FROM ASIA, AND WORKS BY ASIAN AMERICAN PERFORMING ARTISTS. ADDITIONALLY, A WIDE RANGE OF LECTURES, AUTHOR PROGRAMS, FILMS, AND SYMPOSIA FOR THE GENERAL PUBLIC ARE PRESENTED, EITHER RELATED TO THE CURRENT MUSEUM EXHIBITIONS OR TO FURTHER THE SOCIETY'S GOAL OF PROMOTING GREATER UNDERSTANDING BETWEEN PEOPLES BY SHARING ASIAN AND ASIAN AMERICAN ARTS AND CULTURE. OUR CULTURE AS DIPLOMACY INITIATIVE SPECIFICALLY LOOKS TO ADVANCE UNDERSTANDING AND CONNECTIONS AMONG CULTURES AS A SAFE HARBOR, UNCOMPROMISED BY POLITICAL, NATIONAL, OR OTHER DIFFERENCES. FORM 990, PART III, LINE 4C COMMUNICATIONS DIVISION THE SOCIETY PURSUES ITS MISSION TO EDUCATE THE PUBLIC THROUGH INNOVATIVE ONLINE PROGRAMMING ACTIVITIES. THE WORK OF THE ONLINE OUTREACH DIVISION INCLUDES CONTRIBUTIONS FROM HEADQUARTERS AS WELL AS OUR THIRTEEN OTHER CENTERS AND BRANCHES AROUND THE WORLD. IT OVERSEES THE WEBSITE WHICH PROVIDES INFORMATION ABOUT ASIA SOCIETY PROGRAMS AS WELL AS CONTENT GENERATED SPECIFICALLY FOR THE SITE ON TOPICS OF CURRENT INTEREST. WEB TRAFFIC HAS EXPANDED IN THE LAST FEW YEARS AND CURRENTLY HAS MORE THAN 3 MILLION ANNUAL VISITS. ASIA SOCIETY'S WEBSITE (WWW.ASIASOCIETY.ORG) INCLUDES NEWS AND INFORMATION ABOUT THE ASIA SOCIETY, HOSTS INFORMATION ON THE INSTITUTION'S PROGRAMS, EVENTS, PUBLICATIONS, AND DEPARTMENTS; OFFERS USERS A VIEW OF SOCIETY MUSEUM EXHIBITIONS AND COLLECTIONS; PROVIDES A RAPIDLY EXPANDING COLLECTION OF RESOURCES ON ASIAN AND ASIAN AMERICAN CONTENT FROM THE ARTS, CULTURE, RELIGION AND SOCIETY TO BUSINESS, ECONOMICS, POLICY AND GOVERNMENT; AND PRESENTS LIVE WEBCASTS OF PROGRAMS OFFERED AT THE NEW YORK HEADQUARTERS AS WELL AS ARCHIVES PROGRAMS FOR FUTURE VIEWING. FORM 990, PART III, LINE 4D U.S. ACTIVITIES THE SOCIETY OPERATES OUT OF TWO ADDITIONAL LOCATIONS IN THE UNITED STATES. THE WASHINGTON, D.C. OFFICE TAKES ADVANTAGE OF ITS LOCATION IN THE NATION'S CAPITAL TO SUPPORT THE WORK OF THE ASIA SOCIETY POLICY INSTITUTE AND THE PACIFIC COAST IS SERVED BY THE SOUTHERN CALIFORNIA CENTER IN LOS ANGELES. THE CALIFORNIA CENTER IS ADVISED BY A LOCALLY RECRUITED ADVISORY COUNCIL. (IN ADDITION, THE SOCIETY IS AFFILIATED WITH A SEPARATE 501(C)(3) ORGANIZATION LOCATED IN HOUSTON, TEXAS, WHICH OPENED A BUILDING OF ITS OWN IN MARCH 2012 AND BY AN ORGANIZATION IN NORTHERN CALIFORNIA WHICH HAS A SEATTLE, WASHINGTON BRANCH.) ASIAN ACTIVITIES ASIA SOCIETY IS ASSOCIATED WITH SIX ASIAN AFFILIATES, THAT OPERATE ASIA SOCIETY CENTERS IN AUSTRALIA, WITH OFFICES IN SYDNEY AND MELBOURNE; MUMBAI AND DELHI INDIA; SEOUL, KOREA; MANILA, PHILIPPINES; TOKYO, JAPAN; AND IN HONG KONG. THEY ARE EACH SEPARATE, LEGAL AND FINANCIALLY INDEPENDENT ENTITIES AND OPERATE IN CONCERT WITH THE ASIA SOCIETY BASED ON A GLOBAL OPERATING AGREEMENT. EUROPEAN ACTIVITIES THERE ARE TWO AFFILIATE CENTERS IN EUROPE, ONE IN ZURICH, SWITZERLAND AND A CENTER IN PARIS, FRANCE BOTH OF WHICH ARE SEPARATE, LEGAL AND FINANCIALLY INDEPENDENT ENTITIES THAT OPERATE IN CONCERT WITH ASIA SOCIETY BASED ON A GLOBAL OPERATING AGREEMENT. LEARNING AND LEADERSHIP DIVISION THE DIVISION SEEKS TO PROMOTE AN UNDERSTANDING OF ASIA THROUGH FAMILY, LEARNING, AND LIFESTYLE PROGRAMS FOR A WIDE RANGE OF AUDIENCES. THE WORK ENABLES A UNIQUE OPPORTUNITY TO BROADEN THE SCOPE OF OFFERINGS TO FOCUS ON THE CONTRIBUTIONS OF ASIANS AND ASIAN AMERICANS AND TO GROW PUBLIC AWARENESS OF ASIA'S DIVERSE ARTISTIC AND CULTURAL TRADITIONS. ASIA SOCIETY'S LEADERSHIP PROGRAMS PROVIDE A PLATFORM FOR RISING ASIAN AND ASIAN AMERICAN LEADERS TO CONVENE, NETWORK AND ENHANCE THEIR SKILLS. IN THE U.S., THE GLOBAL TALENT AND DIVERSITY AND INCLUSION SYMPOSIUM PROVIDES A VITAL PLATFORM FOR CORPORATIONS TO DISCUSS DIVERSITY AND INCLUSION ISSUES AND BEST PRACTICES IN REGARD TO ASIAN PROFESSIONALS. THE ASIA 21 INITIATIVE BRINGS TOGETHER SOME OF THE MOST DYNAMIC NEXT GENERATION LEADERS, ALL UNDER THE AGE OF 40 FROM ASIA AND THE U.S., TO EXPLORE IMAGINATIVE WAYS TO ADDRESS THE MOST CRITICAL ISSUES FACING THE ASIA-PACIFIC COMMUNITY TODAY, DEVELOP COMMON APPROACHES TO ADDRESSING THESE SHARED CHALLENGES, AND CULTIVATE THE LONG-TERM RELATIONSHIPS NECESSARY FOR DEVELOPING RESPONSES. AUXILIARY SERVICES THE SOCIETY OPERATES A SPECIALIZED STORE AND CAFE AND PROVIDES RENTAL AND CONFERENCE FACILITIES AT ITS HEADQUARTERS BUILDING IN NEW YORK. THE STORE, ASIASTORE, OFFERS A WIDE VARIETY OF BOOKS AND ASIAN-INSPIRED GIFT ITEMS AND SERVES THE MEMBERSHIP, VISITORS TO THE MUSEUM, AND THE GENERAL PUBLIC ATTENDING THE SOCIETY'S PROGRAMS IN NEW YORK. THE AUDITORIUM, CAFE, AND CONFERENCE FACILITIES IN THE HEADQUARTERS BUILDING SERVE PRIMARILY AS VENUES FOR THE SOCIETY'S PROGRAMS AND ARE ALSO AVAILABLE FOR RENTAL TO OUTSIDE PARTIES. FORM 990, PART VI, SECTION A, LINE 2 BUSINESS RELATIONSHIPS STEPHEN A. SCHWARZMAN, TRUSTEE, AND MICHAEL S. CHAE, TRUSTEE, HAVE A BUSINESS RELATIONSHIP. BOTH ARE OFFICERS OF BLACKSTONE GROUP MANAGEMENT, LLC. FORM 990, PART VI, SECTION A, LINE 4 SIGNIFICANT CHANGES TO ORGANIZATIONAL DOCUMENTS THE SOCIETY AMENDED ITS BYLAWS TO REMOVE TERM LIMITS FOR THE GOVERNING BODY'S VOTING MEMBERS, ALLOWING TRUSTEES TO SERVE SUCCESSIVE FOUR-YEAR TERMS WITHOUT A MAXIMUM LIMIT, PROVIDED EACH TERM EXTENSION IS APPROVED BY THE NOMINATING AND GOVERNANCE COMMITTEE AND THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW A COMPLETE DRAFT OF THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD OF TRUSTEES. AFTER THAT REVIEW, A FINAL AND COMPLETE DRAFT IS PROVIDED TO EACH VOTING MEMBER OF THE BOARD BEFORE IT IS FILED WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST REVIEW A CONFLICT OF INTEREST QUESTIONNAIRE IS CIRCULATED TO THE MEMBERS OF THE BOARD OF TRUSTEES, OFFICERS AND KEY EMPLOYEES ON AN ANNUAL BASIS. RESULTS OF THAT QUESTIONNAIRE ARE SUMMARIZED AND PROVIDED TO THE CHAIR OF THE AUDIT COMMITTEE. ANY PERSON DEEMED TO BE AN INTERESTED PERSON WITH RESPECT TO A CONFLICT WILL RECUSE THEMSELVES FROM DELIBERATION AND DECISION-MAKING INVOLVING THE POTENTIAL OR ACTUAL CONFLICT. FORM 990, PART VI, SECTION B, LINE 15 FORM 990, PART VI, SECTION B, LINE 15A COMPENSATION REVIEW THE BOARD COMPENSATION COMMITTEE MEETS TWICE A YEAR AND REVIEWS THE PRESIDENT'S FISCAL YEAR PERFORMANCE. ADDITIONALLY, THE COMMITTEE REVIEWS SALARY SURVEY INFORMATION COMPILED BY THE DIRECTOR OF HUMAN RESOURCES ON A PERIODIC BASIS AS REQUESTED BY THE COMMITTEE. THE SURVEY INFORMATION PROVIDES DATA FOR COMPARABLE POSITIONS IN OTHER NOT FOR PROFIT ORGANIZATIONS WHICH ARE SIMILAR IN SCOPE, COMPLEXITY AND SIZE. BASED ON COMPARABLE SALARY INFORMATION PRESENTED AND PERFORMANCE REVIEWS THE INDEPENDENT MEMBERS OF THE COMMITTEE RECOMMEND THE PRESIDENT'S COMPENSATION TO THE BOARD OF TRUSTEES FOR APPROVAL. ANY DETERMINATIONS BY THE BOARD COMPENSATION COMMITTEE ARE DOCUMENTED IN THE MINUTES OF THE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 15B COMPENSATION REVIEW THE BOARD COMPENSATION COMMITTEE REVIEWS THE OFFICERS AND KEY HIGHEST PAID EMPLOYEES PERFORMANCE AND COMPENSATION ANNUALLY IN COMPARISON WITH BENCHMARKS IN THE FIELD. ANY DETERMINATIONS BY THE BOARD COMPENSATION COMMITTEE ARE DOCUMENTED IN THE MINUTES OF THE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENT AVAILABILITY THE ORGANIZATION'S AUDITED FINANCIAL STATEMENTS AND FORM 990 ARE AVAILABLE AT THE ASIA SOCIETY WEBSITE. OTHER GOVERNING DOCUMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART IX, LINE 11G ARTIST FEES AND HONORARIUM: PROGRAM SERVICE EXPENSES 240,240. MANAGEMENT AND GENERAL EXPENSES 3,694. FUNDRAISING EXPENSES 10,644. TOTAL EXPENSES 254,578. CONSULTING FEES/OTHER PROF. FEES: PROGRAM SERVICE EXPENSES 2,410,223. MANAGEMENT AND GENERAL EXPENSES 59,153. FUNDRAISING EXPENSES 109,151. TOTAL EXPENSES 2,578,527. EMPLOYEMNT RELATED COSTS: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 22,107. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 22,107. MUSEUM PROFESSIONAL FEES: PROGRAM SERVICE EXPENSES 417,102. MANAGEMENT AND GENERAL EXPENSES 159,113. FUNDRAISING EXPENSES 9,335. TOTAL EXPENSES 585,550. FORM 990, PART XI, LINE 9: CHANGE IN FAIR VALUE OF INTEREST RATE SWAP 98,554. UNCOLLECTIBLE PRIOR YEAR PLEDGES -100,092.