American Institute for Economic Research

“The standing committee shall be elected at each annual meeting for two (2) year terms; and shall consist of up to nine (9) persons, but no less than seven (7) persons, not including the alternate, all of whom shall be members, none of whom shall be trustees, and none of whomshall be paid employees of aier or of any subsidiary. The standing committee may exercise all powers of the members between meetings of the members, except that the standing committee shall have no power to amend aier's bylaws, remove a trustee from office without cause, or approve dissolution of aier's activities.”

“Katherine delay, frederick harwood and douglas harwood have a family relationship.”

“The organization made the following changes to its bylaws during 2024: - limits have been placed on the receipt of private benefits by members of governance. - voting requirements for certain actions have been increased to require approval by two-thirds of the current number of trustees, such as appointing the president. - eliminated the distinction for removal of a voting member, standing committee member, or trustee with or without causing allowing for a consistent process to be used for all. - restrictions were added to the authority of the standing committee as it relates to appointing voting members. - voting requirements for when urgent matters arise have been changed to three-fourths of current members.”

“The members of the corporation are those who originally associated to incorporate plus additional members elected under the provisions of the organization's bylaws. The members of the corporation may, by a majority vote, elect additional members, who shall serve for six years and shall be eligible for re-election for successive six year terms; however, the term of any member who is an employee of the institute shall expire on the date such member's status as an employee of the institute is terminated for cause. Trustees who are not members of the corporation, but who are re-elected for a second term as trustee, shall automatically thereby become members of the corporation and shall retain that status while serving as trustees.”

“The members reserve to themselves the power to elect the trustees; to elect the secretary of the corporation and to fill vacancies in that position; and to elect the standing committee of the members of the corporation.”

“Form 990 is prepared in conjunction with an independent accounting firm and reviewed by the assistant comptroller and vp finance. A final draft is distributed to the trustees for questions and comments approximately two weeks prior to filing.”

“All officers and trustees complete an annual conflict of interest form. The vp finance keeps this and forwards to responsible persons any indicated potential conflicts.”

“Vp of finance from time to time provides market data to the compensation committee. Deliberation and decision by the board of trustees regarding compensation adjustments for executives are based on performance evaluations and market data. These decisions are recorded in the official minutes of its meeting. The process described here was last completed in 2024.”

“The organization's governing documents, conflict of interest policy and financial statements are available upon request.”

“We transitioned our bastiat program to harwood salons making the program more in-line with aier's mission.”

“Consulting fees: program service expenses 970,419. Management and general expenses 10,742. Fundraising expenses 18,341. Total expenses 999,502.”

“Net income of subsidiary 625,572. Change in value of split interest agreements 5,973,707.”

“The process has not changed from the prior year.”