2024-11-14T10:21:23-06:00 2023-12-31 992277914 EAG NEW ENGLAND LLC 160 FEDERAL STREET 9TH FLOOR BOSTON MA 02110 990 2023-01-01 822586755 PROGRAM ON INTERNATIONAL FINANCIAL SYSTEMS INC PROG 8572426747 134 MT AUBURN STREET CAMBRIDGE MA 02138 HAL S SCOTT PRESIDENT/DIRECTOR 8572426747 2024-11-14 1 0 EUGENE BORGONZI P01269879 6172276161 2024-11-08 2023 2024-10-15 13:58:12Z HAL S SCOTT 134 MT AUBURN STREET CAMBRIDGE MA 02138 3270261 0 X WWW.PIFSINTERNATIONAL.ORG X 2017 DE THE PROGRAM ON INTERNATIONAL FINANCIAL SYSTEMS (PIFS) IS A 501(C)(3) ORGANIZATION THAT HOSTS INTERNATIONAL SYMPOSIA, EXECUTIVE EDUCATION PROGRAMS AND SPECIAL EVENTS THAT FOSTER DIALOGUE AND PROMOTE EDUCATION ON ISSUES AFFECTING THE GLOBAL FINANCIAL SYSTEM. PIFS ALSO SUPPORTS ACADEMIC SCHOLARSHIP ON THESE ISSUES. 7 6 11 250 0 0 2971334 2329999 524351 623770 10418 55601 6305 8606 3512408 3017976 0 0 0 0 1634883 1760977 0 2250 314456 1059085 1124674 2693968 2887901 818440 130075 3725139 4034257 339288 330339 3385851 3703918 X THE PROGRAM ON INTERNATIONAL FINANCIAL SYSTEMS (PIFS) IS A 501(C)(3) ORGANIZATION THAT HOSTS INTERNATIONAL SYMPOSIA, EXECUTIVE EDUCATION PROGRAMS AND SPECIAL EVENTS THAT FOSTER DIALOGUE AND PROMOTE EDUCATION ON ISSUES IMPACTING THE GLOBAL FINANCIAL SYSTEM. PIFS ALSO SUPPORTS ACADEMIC SCHOLARSHIP ON THESE ISSUES. 0 0 2114413 0 623770 THE PROGRAM ON INTERNATIONAL FINANCIAL SYSTEMS (PIFS) IS A 501(C)(3) ORGANIZATION THAT HOSTS INTERNATIONAL SYMPOSIA, EXECUTIVE EDUCATION PROGRAMS, AND SPECIAL EVENTS THAT FOSTER DIALOGUE AND PROMOTE EDUCATION ON ISSUES IMPACTING THE GLOBAL FINANCIAL SYSTEM. PIFS ALSO SUPPORTS ACADEMIC SCHOLARSHIP ON THESE ISSUES. IN 2023, PIFS HOSTED THREE SYMPOSIA WITH EUROPE, CHINA, AND JAPAN. EACH EVENT INCLUDED APPROXIMATELY 100 SENIOR POLICYMAKERS, FINANCIAL SECTOR EXECUTIVES, AND PROMINENT ACADEMICS TO FOSTER DIALOGUE ON POLICY ISSUES IMPACTING THE GLOBAL FINANCIAL SYSTEM. PIFS ALSO HOSTED TWELVE EXECUTIVE EDUCATION PROGRAMS FOR GOVERNMENT OFFICIALS FROM FOREIGN COUNTRIES, THREE OF WHICH WERE PARTNERSHIPS WITH HARVARD LAW SCHOOL EXECUTIVE EDUCATION, AND TWO OF WHICH WERE PARTNERSHIPS WITH THE INTERNATIONAL ORGANIZATION OF SECURITIES COMMISSIONS (IOSCO). PIFS ALSO HOSTED SPECIAL EVENTS ON DISCRETE POLICY ISSUES, INCLUDING TWO EVENTS CO-HOSTED WITH THE BANK OF JAPAN, AS WELL AS ROUNDTABLES ON CENTRAL BANK DIGITAL CURRENCIES (CBDCS), POLICY ISSUES IN ASSET MANAGEMENT, AND THE FUTURE OF CRYPTOASSETS & INVESTOR PROTECTION. 2114413 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 31 0 11 1 0 0 0 0 0 0 0 0 0 0 0 0 X 7 6 1 0 0 0 1 1 0 1 0 0 0 1 1 1 1 1 1 1 1 0 MA X CRISTINA LEONE 8572426747 134 MT AUBURN STREET CAMBRIDGE MA 02138 HAL S SCOTT PRESIDENT/DIRECTOR 30.00 X X 625000 0 0 DON KANAK DIRECTOR 0.50 X 0 0 0 SATORU MURASE DIRECTOR 0.50 X 0 0 0 THIERRY PORTE DIRECTOR 0.50 X 0 0 0 STEPHEN BERGER DIRECTOR (APPT. 6/13/23) 0.50 X 0 0 0 JAMES FEBEO DIRECTOR 0.50 X 0 0 0 HEATH TARBET DIRECTOR 0.50 X 0 0 0 JACQUELINE MCCABE SECRETARY 20.00 X 77000 0 0 CRISTINA LEONE TREASURER/CFO 25.00 X 97641 0 8579 JOHN A GULLIVER EXECUTIVE DIRECTOR 30.00 X 390181 0 18770 WHITNEY VASEY DIRECTOR OF EVENTS 40.00 X 177550 0 10851 1367372 0 38200 3 0 1 0 0 2329999 2329999 PROGRAM FEES 900099 623770 623770 623770 75563 75563 232323 252285 -19962 -19962 -19962 OTHER INCOME 900099 8606 8606 8606 3017976 632376 0 55601 1216932 757538 271758 187636 419805 311439 45935 62431 9172 5991 1780 1401 29478 15214 10705 3559 85590 55900 16613 13077 50980 50980 2250 2250 8617 8617 138257 130978 5540 1739 673 319 354 35885 28416 4897 2572 22898 15517 6049 1332 64591 39841 14656 10094 370148 339223 2560 28365 370244 367902 2342 7442 7442 12077 3806 8271 HONORARIUM 41041 41041 FEES, LICENSES & REGIST 1821 1288 533 2887901 2114413 459032 314456 183422 133443 455960 1605821 1590500 496000 31487 375 123891 273440 54944 39782 19132 15162 1311199 1503940 9548 6076 3725139 4034257 327638 318489 11650 11850 339288 330339 X 2479667 2565418 906184 1138500 3385851 3703918 3725139 4034257 130075 187992 0 X X 0 1 X 1 0 X 1983888 320000 1261650 2971334 2329999 8866871 1983888 320000 1261650 2971334 2329999 8866871 4428021 4438850 41427 2145 21299 30805 75563 171239 1427 6305 8606 16338 9054448 2384921 0.49020 0.45570 X SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: CREDIT CARD CASH BACK REWARDS - 2021 AMOUNT: $ 1,427. 2022 AMOUNT: $ 6,305. 2023 AMOUNT: $ 8,606. FORM 990, SCHEDULE A - PUBLIC SUPPORT SHORT YEAR THE BOARD OF DIRECTORS VOTED TO AMEND THE BYLAWS TO CHANGE THE ORGANIZATION'S YEAR END FROM JULY 31 TO DECEMBER 31 EFFECTIVE DECEMBER 31, 2020. THEREFORE THE 2020 TAX YEAR WAS A SHORT YEAR RUNNING FROM AUGUST 1, 2020 TO DECEMBER 31, 2020. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 54944 39782 15162 15162 3235693 187992 38342 226334 3009359 8617 8617 3017976 2917626 38342 38342 2879284 8617 8617 2887901 EAST ASIA AND THE PACIFIC - AUSTRALIA, BRUNEI, BURMA, CAMBODIA, 0 2 PROGRAM SERVICES HELD A SYMPOSIUM IN REGION 291534 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 0 FUNDRAISING ACTIVITIES N/A MIDDLE EAST AND NORTH AFRICA - ALGERIA, BAHRAIN, DJIBOUTI, EGYPT, 0 0 PROGRAM SERVICES HOSTED AN EXECUTIVE EDUCATION PROGRAM IN REGION 47904 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 PROGRAM SERVICES HELD A SYMPOSIUM IN REGION 132666 EUROPE (INCLUDING ICELAND & GREENLAND) 0 1 PROGRAM SERVICES HOSTED IOSCO GCP PHASE I PROGRAM 155858 0 3 0 0 0 3 627962 0 627962 1 0 0 0 0 1 PART I, LINE 3: ACCRUAL METHOD OF ACCOUNTING WAS USED TO ACCOUNT FOR EXPENDITURES FORM 990, SCHEDULE F, PART I, LINE 3 THE ORGANIZATION RECEIVED CONTRIBUTIONS FROM FOREIGN CORPORATIONS LOCATED IN THE REGION OF EUROPE. NO EXPENDITURES WERE MADE IN THIS REGION IN ORDER TO OBTAIN THESE CONTRIBUTIONS. THE DONORS WERE REPORTED ON SCHEDULE B IN ACCORDANCE WITH IRS REGULATIONS. FORM 990, SCHEDULE F, PART IV, LINE 1 THE ORGANIZATION PAID FOREIGN CORPORATIONS FOR SERVICES PROVIDED TO THE ORGANIZATION. SINCE THE ORGANIZATION DID TRANSFER PROPERTY TO A FOREIGN CORPORATION, IT CHECKED LINE 1 "YES", HOWEVER, IT DID NOT RECEIVE AN OWNERSHIP INTEREST IN THESE CORPORATIONS, SO THEREFORE, A FORM 906 IS NOT REQUIRED. X 1 1 X X X X 0 0 0 0 0 0 0 1 0 HAL S SCOTT PRESIDENT/DIRECTOR 525000 0 100000 0 0 0 0 0 0 0 625000 0 0 0 JOHN A GULLIVER EXECUTIVE DIRECTOR 340181 0 50000 0 0 0 7345 0 11425 0 408951 0 0 0 WHITNEY VASEY DIRECTOR OF EVENTS 137500 0 5000 0 35050 0 5326 0 5525 0 188401 0 0 0 PART I, LINE 1A FIRST CLASS TRAVEL IS PROVIDED FOR HAL S. SCOTT, PRESIDENT, IN THE CASE OF LONG TRIPS WHERE PRIVACY IS NEEDED FOR WORKING ON CONFIDENTIAL DOCUMENTS, WHEN BUSINESS CLASS TICKETS ARE NOT AVAILABLE, OR A FREE UPGRADE TO FIRST CLASS IS AVAILABLE. PART I, LINE 7 ALL OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES RECEIVED A DISCRETIONARY BONUS IN 2023. THE BONUSES ARE DETERMINED BASED ON THE MARKET RATE FOR SIMILAR ROLES AT OTHER SIMILAR ORGANIZATIONS. THE BONUS WAS APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 2 HAL S. SCOTT & JOHN A. GULLIVER - BUSINESS RELATIONSHIP HAL S. SCOTT & JACQUELINE MCCABE - BUSINESS RELATIONSHIP HAL S. SCOTT & CRISTINA LEONE - BUSINESS RELATIONSHIP FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS ONE CLASS OF MEMBERSHIP. THE SOLE MEMBER MAY APPOINT ADDITIONAL OR SUCCESSOR MEMBERS. THE MEMBER SHALL ALSO ELECT THE DIRECTORS AND OFFICERS. THE MEMBER HAS THE POWER TO AMEND, REPEAL AND ADOPT THE BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS SHALL ELECT THE DIRECTORS. FORM 990, PART VI, SECTION A, LINE 8B THERE ARE NO COMMITTEES WITH THE AUTHORITY TO ACT ON BEHALF OF THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED THOROUGHLY BY THE CORPORATION'S OFFICERS BEFORE FILING. A COPY OF THE FORM 990 IS PROVIDED TO AND REVIEWED BY THE BOARD OF DIRECTORS BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C AT WEEKLY STATUS MEETINGS, ALL MAJOR ACTIVITIES OF THE CORPORATION ARE DISCUSSED BY THE CORPORATION'S OFFICERS WHERE ANY POTENTIAL CONFLICTS OF INTEREST CAN BE IDENTIFIED. IN ADDITION, EACH DIRECTOR AND EACH OFFICER IS REQUIRED TO COMPLETE AN ANNUAL CONFLICT OF INTEREST DISCLOSURE FORM. FORM 990, PART VI, SECTION B, LINE 15 THE PROCESS FOR DETERMINING COMPENSATION OF THE ORGANIZATION'S TOP MANAGEMENT (OFFICERS AND KEY EMPLOYEES) INCLUDED A REVIEW AND APPROVAL BY INDEPENDENT MEMBERS OF THE BOARD OF DIRECTORS WHO WERE PROVIDED A REPORT FROM AN INDEPENDENT PROFESSIONAL COMPENSATION CONSULTANT PROVIDING, INTER ALIA, COMPARABILITY DATA, AND THE BOARD'S DELIBERATION AND DECISION WERE CONTEMPORANEOUSLY MEMORIALIZED IN THE MINUTES OF THE BOARD MEETING. THE INDEPENDENT PROFESSIONAL COMPENSATION CONSULTANT WAS HIRED TO PROVIDE 2023 COMPENSATION PLANNING INFORMATION UPDATES AS APPROPRIATE FOR THE FOLLOWING: HAL S. SCOTT JOHN GULLIVER JACQUELINE MCCABE CRISTINA LEONE FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS, WHICH INCLUDE ITS CONFLICT OF INTEREST POLICY, AND ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON WRITTEN REQUEST. FORM 990, PART I, LINE 6 - VOLUNTEERS ESTIMATED BY DIRECTOR OF OPERATIONS AND DIRECTOR OF EVENTS, BASED ON SPEAKERS AND VOLUNTEERS FOR PROGRAMS AND EVENTS.