Council on Foreign Relations Inc.

“Zoe Baird has a business relationship with James Manyika. David Bradley has a business relationship with Laurene Powell Jobs. David Cote has a business relationship with Blair Effron. David Cote has a business relationship with Laurence Fink. David Cote has a business relationship with James Gorman. James Gorman has a business relationship with Jami Miscik. Blair Effron has a business relationship with Richard Haass. Richard Haass has a business relationship with David Rubenstein. David Rubenstein has a business relationship with Daniel Yergin. Form 990, Part VI, Line 6 members or stockholders THE COUNCIL ON FOREIGN RELATIONS IS FIRST AND FOREMOST A MEMBERSHIP ORGANIZATION. THE COUNCIL'S MEMBERSHIP REPRESENTS A GROUP UNMATCHED IN ACCOMPLISHMENT AND DIVERSITY IN THE FIELD OF INTERNATIONAL AFFAIRS. THE COUNCIL HAS 5,000 MEMBERS AND TERM MEMBERS, COMPRISED OF TOP GOVERNMENT OFFICIALS, RENOWNED SCHOLARS, BUSINESS EXECUTIVES, ACCLAIMED JOURNALISTS, PROMINENT LAWYERS, AND DISTINGUISHED NONPROFIT PROFESSIONALS. THE COUNCIL ALSO HAS A CORPORATE MEMBERSHIP PROGRAM THAT PROVIDES A UNIQUE FORUM FOR BUSINESS LEADERS TO INTERACT WITH NOTED THINKERS AND PRACTITIONERS IN GOVERNMENT, POLICY, ACADEMIA, AND BUSINESS THROUGH INVITATIONS TO EXCLUSIVE EVENTS, DIRECT ENGAGEMENT WITH CFR EXPERTS, AND VIRTUAL ACCESS TO OUR MEMBERS-ONLY WEBSITE. VIRTUAL ACCESS TO OUR MEMBERS-ONLY WEBSITE.”

“governance decisions subject to approval THE MEMBERSHIP OF THE COUNCIL ON FOREIGN RELATIONS ELECTS ALL OF THE VOTING MEMBERS OF THE BOARD OF DIRECTORS. ANY CHANGES TO THE ARTICLES OF INCORPORATION MUST BE APPROVED BY A MAJORITY OF MEMBERS OF THE COUNCIL ON FOREIGN RELATIONS.”

“Process for reviewing Form 990 THE COUNCIL ON FOREIGN RELATION'S FORM 990 WAS PREPARED BY A NATIONALLY RECOGNIZED ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S SENIOR MANAGEMENT AND AUDIT COMMITTEE OF THE BOARD. A DRAFT COPY OF THE FORM 990 IS REVIEWED BY THE AUDIT COMMITTEE OF THE BOARD AND REVISED AS NECESSARY WITH THEIR INPUT. ONCE THE AUDIT COMMITTEE APPROVES THE FORM 990 FOR FILING, A COPY IS CIRCULATED TO THE FULL BOARD FOR THEIR REVIEW AND APPROVAL. EACH DIRECTOR OF THE BOARD IS GIVEN THE OPPORTUNITY TO COMMENT ON THE FORM 990 PRIOR TO ITS FILING.”

“Conflict of interest policy enforcement and monitoring Each officer, director, and key employee of the Council on Foreign Relations is required to annually disclose any potential conflicts of interest to the Audit Committee of the Board. The Audit Committee reviews each reported potential conflict of interest and reports it recommendations regarding the reported matters to the full Board for approval. The Council's conflict of interest policy requires any party with a potential conflict to recuse him or herself from the Board's deliberations and also requires that potential conflicts be reported as soon as they arise. Potential conflicts of interest are addressed immediately upon reporting.”

“process for determining compensation The Council on Foreign Relations undertakes a thorough process to ensure that the executive compensation paid to its officers and key employees, including the President, is reasonable, given the market in which the organization operates. The Compensation Committee of the Board, which is composed of independent persons that have no personal interest in the proposed compensation, undertakes an annual review and approval of compensation. To assist their deliberations, the Compensation Committee regularly engages an independent compensation consultant to complete a market assessment and competitive position analysis for the organization's officers and key employees, including the President. The compensation consultant utilizes comparability and benchmarking surveys, as well as Form 990s of comparable organizations, to ensure that the Council compensates its executives commensurate with the market. Compensation decisions and reports are contemporaneously documented in the minutes of the meeting of the Compensation Committee.”

“availability of documents to the public The Council on Foreign Relations' Form 990, governing documents and conflict of interest policy are available to the public upon request. The Council's audited financial statements are available on our website, www.cfr.org.”

“students, civic and religious leaders, and OTHER INTERESTED CITIZENS IN ORDER TO HELP THEM BETTER UNDERSTAND THE WORLD AND THE FOREIGN POLICY CHOICES FACING THE UNITED STATES AND OTHER COUNTRIES. FOUNDED IN 1921, CFR TAKES NO INSTITUTIONAL POSITIONS ON MATTERS OF POLICY. CFR CARRIES OUT ITS MISSION BY MAINTAINING A DIVERSE MEMBERSHIP, INCLUDING SPECIAL PROGRAMS TO PROMOTE INTEREST AND DEVELOP EXPERTISE IN THE NEXT GENERATION OF FOREIGN POLICY LEADERS. CONVENING MEETINGS AT ITS HEADQUARTERS IN NEW YORK AND IN WASHINGTON, D.C., AND OTHER CITIES WHERE SENIOR GOVERNMENT OFFICIALS, MEMBERS OF CONGRESS, GLOBAL LEADERS, AND PROMINENT THINKERS COME TOGETHER WITH CFR MEMBERS TO DISCUSS AND DEBATE MAJOR INTERNATIONAL ISSUES. SUPPORTING A STUDIES PROGRAM THAT FOSTERS INDEPENDENT RESEARCH, ENABLING CFR SCHOLARS TO PRODUCE ARTICLES, REPORTS, AND BOOKS AND HOLD ROUNDTABLES THAT ANALYZE FOREIGN POLICY ISSUES AND MAKE CONCRETE POLICY RECOMMENDATIONS. PUBLISHING FOREIGN AFFAIRS, THE PREEMINENT JOURNAL ON INTERNATIONAL AFFAIRS AND U.S. FOREIGN POLICY. SPONSORING INDEPENDENT TASK FORCES THAT PRODUCE REPORTS WITH BOTH FINDINGS AND POLICY PRESCRIPTIONS ON THE MOST IMPORTANT FOREIGN POLICY TOPICS. PROVIDING UP TO DATE INFORMATION AND ANALYSIS ABOUT WORLD EVENTS AND U.S. FOREIGN POLICY ON ITS WEBSITES, CFR.ORG AND FOREIGNAFFAIRS.COM. FORM 990, PART III, LINE 4(D): ALL OTHER PROGRAMMATIC ACTIVITIES WEBSITE: CFR'S WEBSITE, CFR.ORG, IS ONE OF THE ORGANIZATION'S PRIMARY COMMUNICATIONS CHANNELS TO ITS VARIOUS AUDIENCES. THE SITE PUBLISHES A RICH VARIETY OF TYPES OF CONTENT, INCLUDING THE DAILY NEWS ANALYSIS, BACKGROUNDERS, INTERVIEWS, PODCASTS, OPINION PIECES, FULL TEXT OF PUBLICATIONS FROM THE THINK TANK, RESOURCES IN SUPPORT OF THE VARIOUS OUTREACH INITIATIVES, VIDEOS AND TRANSCRIPTS OF ON-THE-RECORD MEETINGS AND SEMINARS AND MORE. THE SITE ALSO PROVIDES A COMPREHENSIVE ACCOUNT OF THE HISTORY AND ACTIVITIES OF CFR IN NEW YORK AND AT ITS WASHINGTON D.C. OFFICE. FOREIGNAFFAIRS.COM IS THE WEBSITE OF CFR'S FLAGSHIP MAGAZINE, AND OFFERS ACCESS TO A DEEP ARCHIVE OF ARTICLES AND RELATED RESOURCES MONTHLY. THE STEPHEN M. KELLEN TERM MEMBER PROGRAM ENCOURAGES PROMISING YOUNG LEADERS IN GOVERNMENT, MEDIA, NONGOVERNMENTAL ORGANIZATIONS, LAW, BUSINESS, FINANCE, AND ACADEMIA TO ENGAGE IN A SUSTAINED CONVERSATION ON INTERNATIONAL AFFAIRS AND U.S. FOREIGN POLICY. THE PROGRAM ALLOWS THESE YOUNGER MEMBERS TO INTERACT WITH SEASONED FOREIGN-POLICY EXPERTS AND PARTICIPATE IN A WIDE VARIETY OF EVENTS DESIGNED ESPECIALLY FOR THEM. EACH YEAR A NEW CLASS OF TERM MEMBERS, BETWEEN THE AGES OF 30 AND 36, IS ELECTED TO A FIVE-YEAR MEMBERSHIP TERM. THE COUNCIL ON FOREIGN RELATIONS LAUNCHED THE INDEPENDENT TASK FORCE PROGRAM IN 1995 WITH A TASK FORCE ON NUCLEAR NONPROLIFERATION, CHAIRED BY STEPHEN J. HADLEY, WHO MOST RECENTLY SERVED AS THE NATIONAL SECURITY ADVISER IN THE GEORGE W. BUSH ADMINISTRATION. MORE THAN SEVENTY REPORTS LATER, TASK FORCES HAVE BECOME A TRADEMARK OF THE COUNCIL. THE COUNCIL SPONSORS AN INDEPENDENT TASK FORCE WHEN AN ISSUE OF CURRENT AND CRITICAL IMPORTANCE TO U.S. FOREIGN POLICY ARISES, AND IT SEEMS THAT A GROUP DIVERSE IN BACKGROUNDS AND PERSPECTIVES MAY NONETHELESS BE ABLE TO REACH A MEANINGFUL CONSENSUS ON A POLICY THROUGH PRIVATE AND NONPARTISAN DELIBERATIONS. IN REGARDS TO OUTREACH INITIATIVES, THE COUNCIL IS COMMITTED TO REACHING OUT TO DIFFERENT CONSTITUENCIES SO THAT THEY BETTER UNDERSTAND THE WORLD AND THE FOREIGN POLICY CHOICES FACING THE UNITED STATES AND OTHER GOVERNMENTS. CFR IS DEVOTING MORE TIME AND ENERGY TO CONNECTING WITH AND SERVING AS A RESOURCE FOR GROUPS OF INTERESTED CITIZENS WHOSE VOICES ARE INCREASINGLY IMPORTANT TO THE NATIONAL FOREIGN POLICY DEBATE. THESE CONSTITUENCIES INCLUDE EDUCATORS AND STUDENTS; RELIGIOUS AND CONGREGATIONAL LEADERS; AND STATE AND LOCAL OFFICIALS. CFR'S ADDITIONAL PROGRAMS ARE EDUCATION, A NATIONAL PROGRAM AND A GLOBAL BOARD OF ADVISORS. FOR MORE INFORMATION, PLEASE VISIT THE ORGANIZATION'S WEBSITE, WWW.CFR.OR”

“Other Changes in Net Assets Change in value of interest rate swap agreement $2,258,500 Post-Retirement Benefits other than net periodic costs $646,000 Total changes in net assets $2,904,500”