2024-07-12T14:40:04-05:00 2023-12-31 111986323 MARCUM LLP 1899 L STREET NW SUITE 850 WASHINGTON DC 20036 990 2023-01-01 521289843 INSTITUTE OF INTERNATIONAL FINANCE INC INST 2028573600 1333 H STREET NW 800E WASHINGTON DC 20005 BARRIE ORELLANA MANAGING DIRECTOR 2028573600 2024-07-09 1 BARRIE ORELLANA XXX-XX-XXXX 0 FRANK H SMITH P00639053 2022274000 2024-07-09 3 AAL1 IAL1 2023 2023-04-26 12:10:37Z TIMOTHY D ADAMS 1333 H STREET NW 800E WASHINGTON DC 20005 43511445 0 X WWW.IIF.COM X 1983 DC TO SUPPORT FINANCIAL INDUSTRY IN PRUDENTLY MANAGING RISKS AND TO FOSTER GLOBAL FINANCIAL STABILITY. 48 47 75 51 0 0 0 250000 30741239 32685178 1411483 1757909 97970 92142 32250692 34785229 0 0 0 0 23095384 23388790 0 0 0 9509983 10342999 32605367 33731789 -354675 1053440 42189455 40901723 16755165 12307885 25434290 28593838 X SEE SCHEDULE O. 0 0 IIF'S ECONOMIC RESEARCH DEPARTMENT CONTINUES TO LEAD IN THE FIELD OF MACROECONOMIC RESEARCH FOR EMERGING MARKETS. OUR PRIMARY PUBLICATION, GLOBAL MACRO VIEWS (GMV), ALONG WITH REPORTS SPECIFIC TO INDIVIDUAL COUNTRIES, HAVE CENTERED ON IMPORTANT THEMES WITHIN THE BACKDROP OF THE PERSISTENT GLOBAL GEOPOLITICAL UNCERTAINTY. KEY THEMES AND REPORTS FOR 2023 INCLUDED ANALYSIS ABOUT INFLATION AND OUR VIEW THAT IT WAS COMING DOWN FASTER THAN ANTICIPATED, TIMELY INTERVENTIONS ABOUT POTENTIAL SPILLOVER SCENARIOS FROM THE CONFLICT IN GAZA, DEVELOPING ECONOMIC ANALYSIS ABOUT THE SUDDEN CHANGES IN CHINA'S ECONOMIC FORTUNE DURING THE YEAR AND PROVIDING MEMBERS REAL-TIME ANALYSIS ON ECONOMIC POLICY IN COUNTRIES SUCH AS TURKEY AND ARGENTINA THAT HAD IMPORTANT ELECTIONS. GOING FORWARD WE WILL FOCUS ON GEOPOLITICAL VULNERABILITIES, CAPITAL FLOWS OUTLOOK FOR EMERGING MARKETS, CHINA, THE US RECOVERY, AND FINANCIAL DEEPENING. AS REGULATORS EXAMINED POLICY FOLLOWING THIS YEAR'S FINANCIAL MARKET STRESS, WE HAVE ENGAGED AND RESPONDED TO KEY CONSULTATIONS ACROSS JURISDICTIONS, ENSURING POLICIES PROMOTE EFFICIENT CAPITAL MARKETS AND THE MOBILIZATION OF INVESTMENT AND SAVINGS FOR THE BENEFIT OF LOCAL ECONOMIES. IN 2023, WE RESPONDED TO MORE THAN 30 CONSULTATIONS FROM THE BCBS, CPMI, EBA, EIOPA, FATF, FSB, FSOC, IAIS AND UK TREASURY. IN ADDITION, WE'VE ENGAGED THE BCBS AND NATIONAL AUTHORITIES TO ENSURE PROPERLY COORDINATED FINAL IMPLEMENTATION OF THE BASEL III STANDARDS AND THE PRESERVATION OF A LEVEL PLAYING FIELD. OF NOTE, THE IIF STAFF PAPER "PRUDENTIAL REGULATORY POLICY AND THE IMPLICATIONS FOR THE FINANCIAL SECTOR AND THE ECONOMY" DISCUSSES THE INCREASED CAPITAL THAT WILL RESULT FROM BASEL III IMPLEMENTATION. IN ADDITION, GLOBAL STANDARD SETTING BODIES AND NATIONAL AND REGIONAL REGULATORY AND SUPERVISORY AUTHORITIES CONTINUE TO FOCUS ON NON-BANK FINANCIAL INTERMEDIATION (NBFI), WITH FINANCIAL STABILITY RISKS FROM NBFI LEVERAGE BEING A KEY AREA OF THE FSB'S POLICY FOCUS IN 2024. IIF HAS ENGAGED OUR MEMBERSHIP ON THIS TOPIC AND INTO 2024, THE IIF WILL ENGAGE AND HELP INFORM APPROACHES AS THEY ARE DEVELOPED, PARTICULARLY ON THE ISSUE OF PRIVATE CREDIT. ON OTHER KEY REGULATORY ISSUES, WE HAVE ADVOCATED FOR PRAGMATIC APPROACHES THAT REFLECT THE UNIQUE FEATURES OF THE INSURANCE SECTOR AS THE FSB AND THE IAIS CONTINUE THEIR WORK ON GLOBAL APPROACHES TO CAPITAL AND SYSTEMIC RISK, RESPONDING TO KEY IAIS CONSULTATIONS ON CLIMATE GUIDANCE AND THEIR FOUR-YEAR STRATEGIC PLAN. IN ADDITION, WE REMAINED FOCUSED ON AML/ FINANCIAL CRIME ISSUES, FOCUSING ON THREE AREAS OF SYSTEMIC EFFECTIVENESS: POLICY REFORM REGULATORY ENGAGEMENT; ENGAGEMENT IN INDUSTRY DIALOGUE AND TECHNOLOGY ENHANCEMENTS. IN 2023, WE'VE CONTINUED OUR THOUGHT LEADERSHIP PARTNERSHIP WITH DELOITTE TO DELIVER A SERIES OF WHITE PAPERS ON FINANCIAL CRIME REFORM PROGRESS AND RECOMMENDATIONS FOR NEXT STEPS. FINALLY, WE'VE CONTINUED OUR EFFORTS OF COORDINATION IN BOTH FINANCIAL REGULATIONS REGARDING CYBER RISK MANAGEMENT AND IN THE DEVELOPMENT OF OPERATIONAL RESILIENCE. IN 2023, OUR FOCUS ON SUSTAINABLE FINANCE HAS MOVED FROM GOAL SETTING TO HELPING SUPPORT OUR MEMBERS AS THEY OPERATIONALIZE SUSTAINABILITY AND NET ZERO GOALS ACROSS DISCLOSURE, REPORTING, AND STRATEGIC PLANNING- ENSURING JURISDICTIONAL REQUIREMENTS ARE INTEROPERABLE AND DO NOT RELY ON HIGHER CAPITAL LEVELS FOR CLIMATE RISK. WE'VE PROMOTED A COMPREHENSIVE DEFINITION OF TRANSITION FINANCE THAT RECOGNIZES WHERE INSTITUTIONS ARE IN THEIR TRANSITION JOURNEY, AND, HAVE SUPPORTED MEMBERS ON THAT JOURNEY. IN 2023, WE'VE HELD 11 TRANSITION FINANCE WORKSHOPS GLOBALLY, FROM MILAN TO KUALA LUMPUR, ENGAGING MORE THAN 460 PARTICIPANTS. WE'VE RECENTLY PUBLISHED "THE ROLE OF THE FINANCIAL SECTOR IN THE NET ZERO TRANSITION", WHICH WE HAVE USED TO ENGAGE REGULATORS AND SUPERVISORS GLOBALLY, INCLUDING THE EUROPEAN SYSTEMIC RISK BOARD AND THE JAPANESE FINANCIAL SERVICES AGENCY, EMPHASIZING THAT TRANSITION PLANS ARE A TOOL OF BUSINESS STRATEGY RATHER THAN RISK MANAGEMENT. THIS YEAR IN Q4, WE'VE ALSO LAUNCHED OUR NATURE RELATED FINANCE WORKING GROUP TO STRONG MEMBER INTEREST. REGARDING OUR WORK ON SOVEREIGN DEBT, IN 2023 IIF WAS NAMED A PRIVATE SECTOR REPRESENTATIVE TO THE IMF'S GLOBAL SOVEREIGN DEBT ROUNDTABLE (GSDR) ALONGSIDE ICMA, BLACKROCK AND STANDARD CHARTEREDWE HAVE SHARED DEVELOPMENTS WITH OUR MEMBERS AND HAVE BEEN AN INTERMEDIATOR FOR DISCUSSIONS BETWEEN THE PRIVATE AND OFFICIAL SECTORS, AS THE USE OF THE COMMON FRAMEWORK IS TESTED AND CHALLENGED. WE'VE PROMOTED GLOBAL EFFORTS TO ENHANCE THE INTERNATIONAL SOVEREIGN DEBT ARCHITECTURE WHILE CLOSELY MONITORING IMPLEMENTATION OF THE RECENTLY UPDATED IIF PRINCIPLES FOR STABLE CAPITAL FLOWS AND FAIR DEBT RESTRUCTURING. TO HELP RESPOND TO THE INCREASED ATTENTION TO, AND RAPID DEVELOPMENT OF, AI, THE IIF HAS AND WILL CONTINUE TO INCREASE RESOURCES DEDICATED TO AI WITH EVENTS, AN EXPANDED, RECENTLY RELEASED AI/ MACHINE LEARNING SURVEY AND INCREASED WORKING GROUP ATTENTION. OVER THE COURSE OF 2023, THE IIF HAS STRENGTHENED ITS ROLE AS A KEY INDUSTRY PARTNER AND INTERLOCUTER TO THE BIS AS THEY EXPLORE MULTI-ASSET INTERNATIONAL DIGITAL FINANCIAL INFRASTRUCTURE, HELPING INFORM POLICYMAKERS AND CENTRAL BANK EFFORTS ON CBDCS, TOKENIZED DEPOSITS, TOKENIZED ASSETS AND NEW GLOBAL STANDARDS FOR DIGITAL ASSETS. IN 2023, WE ALSO DELIVERED WORLD-CLASS PROGRAMMING AND EVENTS, GLOBALLY, INCLUDING THE IIF SUSTAINABLE FINANCE SUMMIT IN TOKYO, THE EUROPEAN SUMMIT IN BRUSSELS, VARIOUS FORA DEDICATED TO AUSTRALIA, CANADA, CENTRAL AND EASTERN AND EUROPE, AS WELL AS A SERIES OF ROUNDTABLES DURING THE IMF/WB SPRING MEETINGS. OUR ANNUAL MEMBERSHIP MEETING WAS SUCCESSFULLY HOSTED IN MARRAKESH, AND FOR THE FIRST TIME, WE NAMED AN OFFICIAL CHARITY TO SUPPORT RELIEF EFFORTS IN MORROCCO FOLLOWING SEPTEMBER'S EARTHQUAKE. WE PLAN TO CONTINUE THIS PRACTICE GOING FORWARD. OUR MEMBERS CONTINUE TO BE ENTHUSIASTIC (OVER 8,800+ ATTENDEES) AND WIDESPREAD (REPRESENTING 111 COUNTRIES), AND WE REMAIN FOCUSED ON THE IMPORTANCE OF SHOWCASING DIVERSE VOICES WITH OVER 1,000 SPEAKERS PARTICIPATING IN OUR EVENTS (356 OF WHOM WERE FEMALE - APPROXIMATELY 33% OF ALL SPEAKERS) ACROSS OUR 137 IIF EVENTS THIS YEAR, WE ALSO HAD A GREAT TURNOUT OF OVER +1,600 PUBLIC SECTOR OFFICIALS, INCLUDING THE GOVERNORS OF THE BANK OF ENGLAND AND THE BANK OF SPAIN AS SPEAKERS, AND NUMEROUS OTHER CENTRAL BANK AND FINANCE MINISTRY OFFICIALS. 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 26 0 1 75 1 0 1 CH SN 0 0 0 0 1 0 X 48 47 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 0 0 X BARRIE ORELLANA 2028573316 1333 H STREET NW 800E WASHINGTON DC 20005 TIMOTHY D ADAMS PRESIDENT/CEO 40.00 X X 3262578 0 55295 ANA BOTIN CHAIR 2.00 X X 0 0 0 SIM TSHABALALA VICE CHAIR AND TREASURER 2.00 X X 0 0 0 MICHEL M LIES VICE CHAIRMAN 2.00 X X 0 0 0 PIYUSH GUPTA VICE CHAIRMAN 2.00 X X 0 0 0 OLIVER BATE BOARD DIRECTOR 2.00 X 0 0 0 THOMAS BUBERL BOARD DIRECTOR 2.00 X 0 0 0 WILLIBALD CERNKO BOARD DIRECTOR 2.00 X 0 0 0 SIQING CHEN BOARD DIRECTOR 2.00 X 0 0 0 HOWARD DAVIES BOARD DIRECTOR AS OF 10/23 2.00 X 0 0 0 JOHN DUGAN BOARD DIRECTOR 2.00 X 0 0 0 SERGIO ERMOTTI BOARD DIRECTOR 2.00 X 0 0 0 MILTON MALUHY FILHO BOARD DIRECTOR 2.00 X 0 0 0 DOUGLAS FLINT BOARD DIRECTOR 2.00 X 0 0 0 AKIHIRO FUKUTOME BOARD DIRECTOR AS OF 3/23 2.00 X 0 0 0 SAEED AL-GHAMDI BOARD DIRECTOR 2.00 X 0 0 0 KARL GUHA BOARD DIRECTOR AS OF 10/23 2.00 X 0 0 0 PETER KING BOARD DIRECTOR 2.00 X 0 0 0 MASAHIRO KIHARA BOARD DIRECTOR 2.00 X 0 0 0 MANFRED KNOF BOARD DIRECTOR 2.00 X 0 0 0 ABDULLA AL-KHALIFA BOARD DIRECTOR 2.00 X 0 0 0 SLAWOMIR KRUPA BOARD DIRECTOR AS OF 5/23 2.00 X 0 0 0 AXEL LEHMANN BOARD DIRECTOR UNTIL 4/23 2.00 X 0 0 0 JEAN LEMIERRE BOARD DIRECTOR 2.00 X 0 0 0 DAVID MCKAY BOARD DIRECTOR 2.00 X 0 0 0 KANETSUGU MIKE BOARD DIRECTOR 2.00 X 0 0 0 JUAN CARLOS MORA URIBE BOARD DIRECTOR 2.00 X 0 0 0 RONALD O'HANLEY BOARD DIRECTOR 2.00 X 0 0 0 TETSUO OHKUBO BOARD DIRECTOR 2.00 X 0 0 0 FREDERIC OUDEA BOARD DIRECTOR UNTIL 5/23 2.00 X 0 0 0 PIETRO CARLO PADOAN BOARD DIRECTOR 2.00 X 0 0 0 EDWARD PICK BOARD DIRECTOR 2.00 X 0 0 0 DANIEL PINTO BOARD DIRECTOR 2.00 X 0 0 0 ANNE RICHARDS BOARD DIRECTOR 2.00 X 0 0 0 ALISON ROSE BOARD DIRECTOR UNTIL 7/23 2.00 X 0 0 0 HANA AL-ROSTAMANI BOARD DIRECTOR 2.00 X 0 0 0 SUZAN SABANCI BOARD DIRECTOR 2.00 X 0 0 0 CHARLES SCHARF BOARD DIRECTOR 2.00 X 0 0 0 CHRISTIAN SEWING BOARD DIRECTOR 2.00 X 0 0 0 OLAUG SVARVA BOARD DIRECTOR 2.00 X 0 0 0 MAKOTO TAKASHIMA BOARD DIRECTOR UNTIL 3/23 2.00 X 0 0 0 JESSICA TAN BOARD DIRECTOR UNTIL 12/23 2.00 X 0 0 0 JOHAN TORGEBY BOARD DIRECTOR 2.00 X 0 0 0 CARLOS TORRES-VILA BOARD DIRECTOR 2.00 X 0 0 0 MARK TUCKER BOARD DIRECTOR 2.00 X 0 0 0 SHRITI VADERA BOARD DIRECTOR 2.00 X 0 0 0 C S VENKATAKRISHNAN BOARD DIRECTOR 2.00 X 0 0 0 JOSE VINALS BOARD DIRECTOR 2.00 X 0 0 0 ROBIN VINCE BOARD DIRECTOR 2.00 X 0 0 0 JOHN WALDRON BOARD DIRECTOR 2.00 X 0 0 0 SHEMARA WIKRAMANAYAKE BOARD DIRECTOR 2.00 X 0 0 0 HELEN WONG BOARD DIRECTOR 2.00 X 0 0 0 BARRIE ORELLANA MANAGING DIRECTOR 40.00 X 609517 0 55295 CLAY LOWERY EXECUTIVE VICE PRESIDENT 40.00 X 1253797 0 55295 ANDRES PORTILLA MANAGING DIRECTOR 40.00 X 969604 0 55201 SONJA GIBBS MANAGING DIRECTOR 40.00 X 788147 0 33251 ROBIN BROOKS MANAGING DIRECTOR 40.00 X 735055 0 41462 JESSICA RENIER MANAGING DIRECTOR 40.00 X 715933 0 41462 CHRISTOPHER FULGHUM MANAGING DIRECTOR 40.00 X 603180 0 55295 ELIZABETH ROBERTS GC AND BOARD SECRETARY 40.00 X 608504 0 33000 MARTIN BOER SENIOR DIRECTOR 40.00 X 592794 0 48327 RICHARD GRAY DIR., PRUDENTIAL POLICY 40.00 X 540786 0 51127 MARY FRANCES MONROE DIR., INSURANCE REG. AND POLICY 40.00 X 553573 0 33864 11233468 0 558874 50 0 1 0 WOLFGANG ENGEL REISBERGERWEG 7 83700 ROTTACHEGERN GM 83700 PROGRAM SERVICES CONSULTANT 496500 JEREMY MCDANIELS 14 UNGARNSGADE 5 SAL COPENHAGEN DA 2300 PROGRAM SERVICES CONSULTANT 302067 GREYSTROKE SRLBV RUE FRANCOIS STROOBANT 36 BRUSSELS IXELLES BE B-1050 PROGRAM SERVICES CONSULTANT 286877 LAURENCE F WHITE 105 MCCONNELL STREET KENSINGTON AS VIC 3031 PROGRAM SERVICES CONSULTANT 127101 4 250000 250000 MEMBERSHIP DUES 900099 30423015 30423015 SPONSORSHIP INCOME 900099 1676882 1676882 PROGRAM & SERVICE FEES 900099 373320 373320 REGISTRATION FEE INCOME 900099 211961 211961 32685178 1477247 1477247 9006878 8726216 280662 280662 280662 OTHER INCOME 900099 92142 92142 92142 34785229 31008296 0 3526933 8671893 11661270 1021215 1108888 925524 97333 168425 105291 1326762 246855 338612 2603523 1549423 1857603 466469 98575 SUBSCRIPTIONS/BOOKS 656950 EXCISE TAXES 427267 STAFF DEVELOPMENT 233233 TAXES AND FEES 134053 32625 33731789 55930 122731 13167915 12438588 828906 796578 706152 663493 8141462 7315506 772485 825956 23338498 24723046 3319569 1331331 42189455 40901723 2407263 1168766 9913212 9536199 4434690 1602920 16755165 12307885 X 25434290 28593838 25434290 28593838 42189455 40901723 1053440 2106108 0 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 5134751 4466648 668103 2657931 2533882 124049 348780 314976 33804 825956 OPERATING LEASE LIABILITY 1602920 1602920 X PART X, LINE 2: THE INSTITUTE EVALUATED ITS UNCERTAINTY IN INCOME TAXES FOR THE YEARS ENDED DECEMBER 31,2023 AND 2022, AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE CONSOLIDATED FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. EUROPE (INCLUDING ICELAND & GREENLAND) 1 2 PROGRAM SERVICES MEMBER OUTREACH 329253 EAST ASIA AND THE PACIFIC 2 5 PROGRAM SERVICES MEMBER OUTREACH 1090829 MIDDLE EAST AND NORTH AFRICA 1 1 PROGRAM SERVICES MEMBER OUTREACH 695223 4 8 0 0 4 8 2115305 0 2115305 0 0 0 0 0 0 PART I, LINE 3: IIF REPORTED THE EXPENDITURES BASED ON THE ACCOUNTING METHOD USED IN ITS AUDITED FINANCIAL STATEMENTS WHICH IS AN ACCRUAL BASIS. X X X X 0 0 0 TIMOTHY D ADAMS PRESIDENT/CEO 1388347 0 1600000 0 274231 0 33000 0 22295 0 3317873 0 0 0 CLAY LOWERY EXECUTIVE VICE PRESIDENT 532571 0 652239 0 68987 0 33000 0 22295 0 1309092 0 0 0 ANDRES PORTILLA MANAGING DIRECTOR 443203 0 455481 0 70920 0 33000 0 22201 0 1024805 0 0 0 SONJA GIBBS MANAGING DIRECTOR 359175 0 358211 0 70761 0 33000 0 251 0 821398 0 0 0 ROBIN BROOKS MANAGING DIRECTOR 381816 0 288208 0 65031 0 33000 0 8462 0 776517 0 0 0 JESSICA RENIER MANAGING DIRECTOR 341321 0 311400 0 63212 0 33000 0 8462 0 757395 0 0 0 BARRIE ORELLANA MANAGING DIRECTOR 274787 0 283390 0 51340 0 33000 0 22295 0 664812 0 0 0 CHRISTOPHER FULGHUM MANAGING DIRECTOR 285920 0 267194 0 50066 0 33000 0 22295 0 658475 0 0 0 ELIZABETH ROBERTS GC AND BOARD SECRETARY 353995 0 229642 0 24867 0 33000 0 0 0 641504 0 0 0 MARTIN BOER SENIOR DIRECTOR 302632 0 255463 0 34699 0 33000 0 15327 0 641121 0 0 0 RICHARD GRAY DIR., PRUDENTIAL POLICY 280651 0 200373 0 59762 0 33000 0 18127 0 591913 0 0 0 MARY FRANCES MONROE DIR., INSURANCE REG. AND POLICY 311007 0 207952 0 34614 0 33000 0 864 0 587437 0 0 0 FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION OF MISSION: THE MISSION OF THE INSTITUTE IS TO SUPPORT THE FINANCIAL INDUSTRY IN PRUDENTLY MANAGING RISKS, INCLUDING SOVEREIGN RISK; IN DEVELOPING BEST PRACTICES AND STANDARDS; AND IN ADVOCATING REGULATORY, FINANCIAL, AND ECONOMIC POLICIES THAT ARE IN THE BROAD INTEREST OF ITS MEMBERS AND FOSTER GLOBAL FINANCIAL STABILITY. IN FULFILLING THIS MISSION, THE INSTITUTE'S MAIN ACTIVITIES ARE TO: PROVIDE HIGH-QUALITY, TIMELY, AND IMPARTIAL ANALYSIS AND RESEARCH TO ITS MEMBERS ON EMERGING MARKETS AND OTHER CENTRAL ISSUES IN GLOBAL FINANCE; SYSTEMATICALLY IDENTIFY, ANALYZE, AND SHAPE REGULATORY, FINANCIAL, AND ECONOMIC POLICY ISSUES OF RELEVANCE TO ITS MEMBERS GLOBALLY OR REGIONALLY; DEVELOP AND ADVANCE REPRESENTATIVE VIEWS AND CONSTRUCTIVE PROPOSALS THAT INFLUENCE THE PUBLIC DEBATE ON PARTICULAR POLICY PROPOSALS, INCLUDING THOSE OF MULTILATERAL AGENCIES, AND BROAD THEMES OF COMMON INTEREST TO PARTICIPANTS IN GLOBAL FINANCIAL MARKETS; WORK WITH POLICYMAKERS, REGULATORS, AND MULTILATERAL ORGANIZATIONS TO STRENGTHEN THE EFFICIENCY, TRANSPARENCY, STABILITY AND COMPETITIVENESS OF THE GLOBAL FINANCIAL SYSTEM, WITH AN EMPHASIS ON VOLUNTARY MARKET-BASED APPROACHES TO CRISIS PREVENTION AND MANAGEMENT; PROMOTE THE DEVELOPMENT OF SOUND FINANCIAL SYSTEMS, WITH AN EMPHASIS ON EMERGING MARKETS; PROVIDE A NETWORK FOR MEMBERS TO EXCHANGE VIEWS AND OFFER OPPORTUNITIES FOR EFFECTIVE DIALOGUE AMONG POLICYMAKERS, REGULATORS, AND PRIVATE SECTOR FINANCIAL INSTITUTIONS; DEFINE, ARTICULATE, AND DISSEMINATE BEST PRACTICES AND INDUSTRY STANDARDS IN SUCH AREAS AS RISK MANAGEMENT AND ANALYSIS, DISCLOSURE, CORPORATE GOVERNANCE AND REGULATORY COMPLIANCE. FORM 990, PART VI, SECTION A, LINE 6 MEMBERSHIP IN THE INSTITUTE SHALL BE OPEN TO ANY LENDING INSTITUTION, BANK (INCLUDING WITHOUT LIMITATION INVESTMENT BANK, COMMERCIAL BANK, MERCHANT BANK), ASSET MANAGER, INVESTMENT FUND, INSURANCE COMPANY, PAYMENT PROCESSOR OR EXCHANGE THAT IS, IN EACH INSTANCE, ENGAGED IN INTERNATIONAL FINANCIAL TRANSACTIONS. FORM 990, PART VI, SECTION A, LINE 7A IIF'S FULL MEMBERS CAN ELECT ALL 50 AUTHORIZED INDIVIDUALS OF THE BOARD OF DIRECTORS (ALTHOUGH THE BOARD OF DIRECTORS ITSELF MAY ELECT UP TO 10 OF ITS MEMBERS). FORM 990, PART VI, SECTION A, LINE 7B IIF'S FULL MEMBERS HAVE FINAL APPROVAL ON THE BOARD OF DIRECTOR'S RECOMMENDATIONS TO APPROVE THE ANNUAL BUDGET, AS WELL AS ANY CHANGES TO THE ORGANIZATION'S BYLAWS. FORM 990, PART VI, SECTION B, LINE 11B THE FEDERAL FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM. UPON ISSUANCE OF THE DRAFT, THE FORM 990 IS REVIEWED BY THE SENIOR ACCOUNTING MANAGER, THE MANAGING DIRECTOR OF FINANCE, AND THEN REVIEWED AND SIGNED BY THE PRESIDENT AND CEO BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C IIF DISSEMINATES THE POLICY AND ASK INDIVIDUALS TO NOTIFY OF ANY POSSIBLE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A THE BOARD OF DIRECTORS HAS ESTABLISHED A SEPARATE COMPENSATION COMMITTEE WHICH REVIEWS THE COMPENSATION (BOTH BASE SALARY AND YEAR-END BONUS RANGE) OF IIF'S PRESIDENT/CHIEF EXECUTIVE OFFICER (CEO) PRIOR TO THE ESTABLISHMENT AND/OR RENEWAL/EXTENSION OF AN EMPLOYMENT CONTRACT. THIS INCLUDES A REVIEW OF COMPARABILITY DATA. IN ADDITION, AT THE END OF EACH YEAR, THE COMMITTEE REVIEWS THE ACCOMPLISHMENTS OF THE PRESIDENT/CEO TO DETERMINE THE ACTUAL YEAR-END BONUS WITHIN THE RANGE ESTABLISHED BY THE CONTRACT. THE PRESIDENT/CEO'S EMPLOYMENT CONTRACT BECAME EFFECTIVE JANUARY 2013, WAS RENEWED AND EXTENDED IN JUNE, 2015 WITH A NEW TERMINATION DATE OF DECEMBER 31, 2017, WAS RENEWED AND EXTENDED IN DECEMBER 2017 WITH A NEW TERMINATION DATE OF DECEMBER 31, 2020, AND WAS RENEWED AND EXTENDED IN JULY 2020 WITH A NEW TERMINATION DATE OF DECEMBER 31, 2023, AND WAS RENEWED AND EXTENDED WITH A NEW TERMINATION DATE OF DECEMBER 2027. THE COMPENSATION COMMITTEE LAST MET VIA CONFERENCE CALL IN DECEMBER 2023 TO REVIEW AND TO DETERMINE THE ACTUAL YEAR-END BONUS WITHIN THE RANGE ESTABLISHED BY THE CONTRACT. THE PRESIDENT/CEO REVIEWS MARKET COMPENSATION DATA FOR KEY EMPLOYEES AS PROVIDED BY THE MANAGING DIRECTOR OF FINANCE AND ADMINISTRATION. THIS PROCESS LAST TOOK PLACE IN DECEMBER 2022. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST. IIF ASIA PACIFIC LTD 50 RAFFLES PLACE SUITE 22-06 SINGA SINGAPORE SN 048623 A CENTRALIZED HUB FOR REGIONAL ACTIVITIES IN THE ASIA PACIFIC REGION SN 999250 INSTITUTE OF INTERNATIONAL FINANCE INC SCHEDULE R, PART I: IIF CONDUCTS SOME OF ITS PROGRAMS THROUGH FIELD OFFICES AND AFFILIATES IN FOREIGN COUNTRIES. IN ORDER TO ADHERE WITH THE LAWS OF SINGAPORE, IIF ASIA PACIFIC, LTD. WAS ESTABLISHED IN MAY 2014 TO ACT AS A CENTRALIZED HUB FOR REGIONAL ACTIVITIES IN THE ASIA PACIFIC REGION. IIF IS THE SOLE MEMBER OF IIF ASIA PACIFIC, LTD. FOR PURPOSES OF THE 990, IIF ASIA PACIFIC, LTD IS LISTED AS A DISREGARDED ENTITY AND ITS ACTIVITIES REFLECTED THROUGHOUT THE TAX RETURN.