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        <FormAndLineReferenceDesc>PART III LINE19 SCHEDULE A PART VI SUPPLEMENTAL INFORMATION</FormAndLineReferenceDesc>
        <ExplanationTxt>STATEMENT OF FACTS AND CIRCUMSTANCES SUPPORTING THE RONALD COASE INSTITUTE'S STATUS AS A PUBLICLY SUPPORTED CHARITY, 2024 ACTIVITIES TO ACCOMPLISH EXEMPT PURPOSES THE RONALD COASE INSTITUTE WAS FOUNDED IN 2000 BY RONALD COASE, NOBEL LAUREATE IN ECONOMICS, AND A GROUP OF LIKE-MINDED SCHOLARS. ITS GOAL IS TO PROMOTE RESEARCH ON THE RULES, LAWS, NORMS, AND CUSTOMS THAT GOVERN REAL ECONOMIES, SO THAT PROBLEMS CAN BE IDENTIFIED AND OVERCOME. THE WORKSHOPS, MENTORING, CONFERENCES, GRANTS, AND NETWORK OF THE RONALD COASE INSTITUTE HELP UNIVERSITY STUDENTS, POST-DOCTORAL SOCIAL SCIENTISTS, YOUNG PROFESSORS AND OTHER YOUNG SCHOLARS, MOSTLY FROM DEVELOPING AND TRANSITIONAL ECONOMIES, TO STUDY IMPORTANT ECONOMIC PROBLEMS IN THEIR OWN COUNTRIES, AND SEEK PRACTICAL SOLUTIONS TO INCREASE PEOPLE'S OPPORTUNITIES TO IMPROVE THEIR OWN LIVES. THROUGH OUR WORKSHOPS AND MENTORING, ESTABLISHED SCHOLARS BUILD THE CAPACITY OF YOUNG RESEARCHERS TO USE THE TOOLS OF INSTITUTIONAL ECONOMICS TO 1) FORMULATE SIGNIFICANT RESEARCH QUESTIONS, 2) DESIGN AND IMPLEMENT EMPIRICAL RESEARCH, 3) COMMUNICATE THEIR RESULTS PERSUASIVELY TO SCHOLARS, POLICY MAKERS, AND THE PUBLIC, AND 4) DISSEMINATE THEIR FINDINGS WIDELY. OUR WORKSHOPS, CONFERENCES, AND OTHER ACTIVITIES HELP CREATE A COLLABORATIVE NETWORK OF OUTSTANDING SCHOLARS WHO STUDY SOCIETIES' PRESSING PROBLEMS, PUBLISH EXCELLENT SCHOLARLY RESEARCH, AND WORK AS TEACHERS, ADVISORS, AND OPINION LEADERS TO INFLUENCE THEIR COUNTRIES' FUTURE. THE COASE INSTITUTE SUPPORTS TRANSFORMATIVE RESEARCH BY FUNDING AND GUIDING SIGNIFICANT RESEARCH PROJECTS AND BY ORGANIZING RESEARCH CONFERENCES, SEMINARS, AND MEETINGS TO ANALYZE INSTITUTIONAL ISSUES AND DISSEMINATE AND CRITIQUE RESEARCH FINDINGS. INFORMATION ON INSTITUTIONAL ECONOMICS, THE WORK OF RONALD COASE, AND THE PARTICIPANTS AND ACTIVITIES OF THE INSTITUTE ARE FREELY PROVIDED ON THE INSTITUTE'S WEBSITE. DURING THE COVID PANDEMIC THE INSTITUTE ALSO HOSTED ONLINE WEBINARS TO DISCUSS CURRENT RESEARCH. THESE VIDEOS ARE ALSO AVAILABLE THROUGH OUR WEBSITE. PERCENTAGE OF FINANCIAL SUPPORT FROM THE PUBLIC THE AVERAGE FINANCIAL SUPPORT RECEIVED BY THE RONALD COASE INSTITUTE FROM THE PUBLIC (SCHEDULE A, PART III, SECTION C LINE 15) FOR THE PERIOD 2024 WAS 38%. IN 2023 IT WAS 32%. SOURCES OF SUPPORT THE RONALD COASE INSTITUTE RECEIVES FINANCIAL SUPPORT FROM PUBLIC/GOVERNMENTAL SOURCES AS WELL AS INDIVIDUALS AND PRIVATE FOUNDATIONS WITH AN INTEREST IN EDUCATING SOCIAL SCIENTISTS TO STUDY AND OVERCOME INSTITUTIONAL PROBLEMS IN THEIR OWN COUNTRIES AND IN EXPANDING RESEARCH ON CRITICAL INSTITUTIONAL BARRIERS TO PROGRESS AND INNOVATION. ALUMNI OF THE INSTITUTE ALSO REGULARLY CONTRIBUTE FINANCIALLY. SINCE OVER 80% OF COASE ALUMNI ARE FROM DEVELOPING AND TRANSITIONAL COUNTRIES AND MOST WORK AS ACADEMICS, THEIR CONTRIBUTIONS ARE NECESSARILY SMALL. WE CHARGE TUITION FOR OUR WORKSHOPS, BUT WAIVE TUITION IN CASES OF HARDSHIP. UNIVERSITIES AND OTHER PUBLICLY SUPPORTED EDUCATIONAL ORGANIZATIONS COOPERATE IN THE INSTITUTE'S ACTIVITIES, PROVIDING SUPPORT BY PAYING FOR PARTICIPANTS' MEALS, ACCOMMODATIONS, TRANSPORT AND THE LIKE. SOME PROVIDE FUNDS FOR THE INSTITUTE TO BRING ITS ALUMNI AS VISITING FACULTY AND SCHOLARS. NOTE: THE COASE INSTITUTE ALSO RECEIVES A LARGE AMOUNT OF OTHER SUPPORT FROM OUTSTANDING SCHOLARS AND EXPERTS WHO VOLUNTEER THEIR SERVICES AS OFFICERS AND DIRECTORS, AS FACULTY IN OUR WORKSHOPS, AND AS CONTRIBUTORS TO OUR OTHER ACTIVITIES. A TOTAL OF 133 INDIVIDUALS (INCLUDING 34 ALUMNI OF EARLIER WORKSHOPS) HAVE CONTRIBUTED THEIR TIME AND SERVICES TO WORK WITHOUT COMPENSATION AS CORE FACULTY AND LECTURERS FOR THE INSTITUTE WORKSHOPS. THESE INDIVIDUALS ARE PROFESSORS OR EXPERT PRACTITIONERS IN THE FIELDS OF ECONOMICS, LAW, POLITICAL SCIENCE, AND RELATED DISCIPLINES. MOST ARE WIDELY PUBLISHED AND RECOGNIZED AUTHORITIES IN THE FIELD OF NEW INSTITUTIONAL ECONOMICS. SIX ARE NOBEL LAUREATES IN ECONOMICS. IN ADDITION, THE INSTITUTE RECEIVES EXPERT LEGAL ADVICE PRO BONO. FUNDRAISING PROGRAM AND CHANGES TO INCREASE RESILIENCY AND EXPAND FUNDRAISING WE CONDUCT AN ANNUAL CAMPAIGN TO SOLICIT FUNDS FROM OUR NETWORK OF DONORS, ALUMNI, AND FACULTY. WE REGULARLY SUBMIT GRANT APPLICATIONS TO FOUNDATIONS AND FUNDING AGENCIES. A MAJOR ACTIVITY AND SOURCE OF FUNDING FOR THE INSTITUTE HAVE BEEN OUR IN-PERSON WORKSHOPS, WHICH ARE WIDELY RECOGNIZED AS AN EXCEPTIONALLY VALUABLE EXPERIENCE. HOWEVER, MAJOR ADVERSE CHANGES IN GLOBAL CIRCUMSTANCES HAVE RAISED THE COSTS AND UNCERTAINTY OF INTERNATIONAL WORKSHOPS AND MADE IT HARDER TO HOLD WORKSHOPS IN OR RECRUIT PARTICIPANTS FROM SOME COUNTRIES THAT WERE IMPORTANT FOR THESE IN THE PAST (E.G., CHINA AND RUSSIA). THE COVID PANDEMIC AND GLOBAL DIFFICULTIES ALSO REDUCED FACULTY AND PARTICIPANT WILLINGNESS TO TRAVEL AND TO PARTICIPATE IN IN-PERSON WORKSHOPS. THIS HAD AN ADVERSE EFFECT ON OUR FUNDING SINCE THE WORKSHOPS ARE IMPORTANT SOURCE OF UNIVERSITY SUPPORT, ALUMNI SUPPORT, AND TUITION. IN 2024 WE BUILT ON NEW PROGRAMS AND OTHER INITIATIVES TO BOLSTER OUR FUNDRAISING EFFORTS. WE ALSO HELD A FUNDRAISING DINNER WITH MAJOR DONORS AND OTHER SUPPORTERS AT THE UNIVERSITY OF CHICAGO. TO BROADEN OUR NETWORK OF DONORS AND INCREASE OUR APPEAL AND VISIBILITY, WE ALSO: 1. HELD A SECOND ALUMNI CONFERENCE TO EXPAND OUR SUPPORT TO OUR ALUMNI AND INCREASE ALUMNI DONATIONS. THE COASE INSTITUTE NOW HAS ALMOST 700 ALUMNI. IN 2024, 24 SCHOLARS PARTICIPATED IN OUR SECOND ALUMNI CONFERENCE WITH ALUMNI PRESENTATIONS, DISCUSSION, AND FEEDBACK. THERE WERE ALSO PRESENTATIONS AND DISCUSSION BY SENIOR SCHOLARS. WE ALSO ORGANIZED OUR ANNUAL ALUMNI PANEL AT THE 2024 MEETING OF THE SOCIETY FOR INSTITUTIONAL AND ORGANIZATIONAL ECONOMICS AND AWARDED OUR ANNUAL OUTSTANDING ALUMNI ACHIEVEMENT AWARD THERE. THESE ACTIVITIES ASSIST OUR FUNDRAISING BY RAISING AND MAINTAINING CLOSE RELATIONS WITH OUR ALUMNI AND FACULTY VOLUNTEERS. 2. IMPLEMENTED A COMPETITIVE RESEARCH SUPPORT PROGRAM TO ASSIST YOUNG SCHOLARS TO ADDRESS KEY QUESTIONS IN INSTITUTIONAL ECONOMICS, INCLUDING THOSE RELATING TO PUBLIC POLICY AND DEVELOPMENT CHALLENGES IN THEIR OWN COUNTRIES. THIS ACTIVITY SUPPORTS FUNDRAISING FROM INDIVIDUAL DONORS, FOUNDATIONS, AND GOVERNMENT AGENCIES THAT ARE SIMILARLY FOCUSED ON AREAS OF CONCERN SUCH AS ENVIRONMENTAL ISSUES. IT ENCOURAGES WORK ON UNDER-RESEARCHED SUBJECTS OF MAJOR INTEREST TO INSTITUTIONAL ECONOMISTS, NGOS, AND POLICY MAKERS AND IDENTIFIES AND ASSIST HIGH-QUALITY RESEARCHERS FROM AROUND THE WORLD WHO MIGHT OTHERWISE HAVE DIFFICULTY OBTAINING FUNDING. IN 2024 WE CONTRACTED A RESEARCH MANAGER TO SUPERVISE THIS PROGRAM AND WE PUBLICIZED A CALL FOR PROPOSALS FOR RESEARCH ON THE EFFECTS OF INSTITUTIONS ON ADAPTATION TO CLIMATE CHANGES IN DEVELOPING COUNTRIES. WE RECEIVED AN UNEXPECTEDLY STRONG RESPONSE -- 120 PROPOSALS -- WHICH HAS EXPANDED OUR NETWORK OF PROMISING YOUNG RESEARCHERS. A SCIENTIFIC COMMITTEE PICKED THE FOUR BEST PROPOSALS TO RECEIVE GRANTS. 3. ACTIVELY RECRUITED AUTHORS FOR THE RONALD COASE INSTITUTE/CAMBRIDGE UNIVERSITY PRESS BOOK SERIES, WHICH SUPPORTS OUR FUNDRAISING BY RAISING THE VISIBILITY AND CREDIBILITY OF THE COASE INSTITUTE AMONG READERS AND AUTHORS AND ASSOCIATING THE INSTITUTE WITH A RENOWNED PUBLISHER. VOLUMES IN THE SERIES WILL INFORM STUDENTS, POLICY MAKERS, EXPERTS, AND OTHER INTERESTED READERS ABOUT INSIGHTFUL AND INNOVATIVE IDEAS EMERGING FROM RECENT RESEARCH IN NEW INSTITUTIONAL ECONOMICS. WE HELD A VIRTUAL WEBINAR TO PRESENT THE FIRST MANUSCRIPT IN THE SERIES. GOVERNING BODY ALL THE MEMBERS OF THE RONALD COASE INSTITUTE'S BOARD OF DIRECTORS HAVE SPECIALIZED KNOWLEDGE OF ITS FIELD OF ACTIVITIES, SPECIFICALLY, NEW INSTITUTIONAL ECONOMICS. OUR DIRECTORS ARE NOBEL LAUREATES IN ECONOMICS, PROFESSORS AND EMERITUS PROFESSORS OF ECONOMICS AT LEADING US AND EUROPEAN UNIVERSITIES, AND ACTIVE AND RETIRED LEAD RESEARCHERS AT THE INTER-AMERICAN DEVELOPMENT BANK AND THE RESEARCH DEPARTMENT OF THE WORLD BANK. ALL NINE DIRECTORS ARE WELL-KNOWN EXPERTS AND WIDELY PUBLISHED AUTHORS IN THE FIELD OF NEW INSTITUTIONAL ECONOMICS. PUBLIC SERVICES THE WORKSHOPS, MENTORING, RESEARCH SUPPORT, AND PUBLICATIONS OF THE INSTITUTE PROMOTE TRANSFORMATIVE IDEAS BY HELPING OUR ALUMNI BECOME EFFECTIVE TEACHERS, RESEARCHERS, AND OPINION LEADERS, AND BY SUPPORTING SCHOLARLY PUBLICATIONS ABOUT INNOVATIVE NEW DISCOVERIES IN THE FIELD OF NEW INSTITUTIONAL ECONOMICS. AS OF DECEMBER 31, 2024, THE INSTITUTE HAS HELD 31 WORKSHOPS AROUND THE WORLD, BENEFITING A TOTAL OF 699 PARTICIPANTS FROM 77 COUNTRIES. OF THESE, 82% ARE FROM DEVELOPING COUNTRIES. THE INSTITUTE HAS ALSO ORGANIZED 27 RESEARCH CONFERENCES, MEETINGS, AND PANELS FOR ALUMNI, DISSEMINATING NEW RESEARCH AND INFORMING THE TERMS OF DEBATE. IT HAS ASSISTED ITS GROWING NETWORK OF ALUMNI THROUGH MENTORING AND ADVICE, REGULAR POSTINGS ABOUT THEIR ACTIVITIES ON ITS WEBSITE, INVITATIONS TO SCHOLARLY CONFERENCES ORGANIZED BY THE INSTITUTE OR OTHERS TO SHOWCASE THEIR</ExplanationTxt>
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        <FormAndLineReferenceDesc>PART III LINE19 SCHEDULE A PART VI SUPPLEMENTAL INFORMATION</FormAndLineReferenceDesc>
        <ExplanationTxt>RESEARCH, AND SOCIAL EVENTS. SOME EXCEPTIONAL ALUMNI HAVE BEEN SUPPORTED THROUGH SMALL RESEARCH GRANTS AND SPONSORSHIPS TO BE VISITING FELLOWS AT THE UNIVERSITY OF CHICAGO, GEORGE MASON UNIVERSITY, AND WASHINGTON UNIVERSITY IN ST. LOUIS. THE INSTITUTE'S WEBINARS FEATURE OUTSTANDING SCHOLARS DISCUSSING THEIR RESEARCH AND ANSWERING QUESTIONS FROM THE AUDIENCE. OUR NEW PROGRAM OF RESEARCH SUPPORT FUNDS RESEARCH ON PRESSING AREAS OF POLICY CONCERN AND SUPPORTS EXCELLENT YOUNG SCHOLARS WHO MIGHT OTHERWISE NOT HAVE ACCESS TO FUNDS. THE INSTITUTE POSTS INFORMATION ABOUT ITS ACTIVITIES ON ITS WEBSITE. THESE INCLUDE ANNOUNCEMENTS OF COMPETITIONS FOR UPCOMING WORKSHOPS AND RESEARCH GRANTS PLUS COMPLETE PAST WORKSHOP PROGRAMS, LISTS OF THE PARTICIPANTS AND FACULTY AND PARTICIPANTS' RESEARCH ABSTRACTS; VIDEOS OF WEBINARS; ALUMNI NEWS AND PROFESSIONAL PROFILES; INFORMATION ABOUT JOBS, CONFERENCES, AND PUBLICATIONS IN NEW INSTITUTIONAL ECONOMICS; AND WORKING PAPERS BY THE INSTITUTE'S OFFICERS, ALUMNI, FACULTY, AND FELLOWS. THE WEBSITE ALSO PROVIDES INFORMATION ABOUT RONALD COASE, NOBEL PRIZE WINNER AND A FOUNDER OF THE FIELD OF NEW INSTITUTIONAL ECONOMICS, INCLUDING A COMPLETE LIST OF HIS PUBLICATIONS AND ONLINE MATERIALS. THE WEBSITE OFFERS A GLOSSARY IN MULTIPLE LANGUAGES AND READING LISTS ON NEW INSTITUTIONAL ECONOMICS. ALL THESE ARE FREELY AVAILABLE TO MEMBERS OF THE PUBLIC. THE INSTITUTE ALSO MAINTAINS A FACEBOOK PAGE WITH LINKS TO EVENTS AND INFORMATION SUCH AS JOB OPENINGS, USEFUL TO OUR NETWORK AND TO SCHOLARS OF NEW INSTITUTIONAL ECONOMICS.</ExplanationTxt>
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        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 2</FormAndLineReferenceDesc>
        <ExplanationTxt>A DIRECTOR LEE K BENHAM AND THE CORPORATE SECRETARY ALEXANDRA L H BENHAM ARE MARRIED</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 8B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE INSTITUTE DOES NOT HAVE ANY FORMAL COMMITTEES</ExplanationTxt>
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      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE FORM 990 IS EMAILED TO EACH DIRECTOR AND OFFICER FOR THEIR REVIEW BEFORE FILING</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>CONFLICTS OF INTEREST, IF ANY, ARE REQUIRED TO BE DISCLOSED BY BOARD MEMBERS AT BOARD MEETINGS</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>COPIES OF THESE DOCUMENTS WILL BE PROVIDED BY MAIL UPON REQUEST</ExplanationTxt>
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        <FormAndLineReferenceDesc>FORM 990, PART IX, LINE 24E</FormAndLineReferenceDesc>
        <ExplanationTxt>BOOKS, SUBSCRIPTIONS &amp; REFERENCE: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 1,164. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,164. EDUCATION &amp; NETWORKING: PROGRAM SERVICE EXPENSES 1,096. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,096. WORKSHOPS: PROGRAM SERVICE EXPENSES 385. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 385. ALUMNI AWARD: PROGRAM SERVICE EXPENSES 210. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 210.</ExplanationTxt>
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