Institute for Advanced Study - Louis Bamberger & Mrs Felix Fuld Foundation

“The corporation has no members. Its board of trustees oversees and is responsible for the affairs and operations of the corporation. New trustees are elected by the current trustees of the institute.”

“Pursuant to the bylaws, each trustee is required to sign a conflict of interest statement annually which commits them to disclosing, in the course of their participation in deliberations of the board of trustees or its committees, any conflicts of interest with respect to matters under consideration. Each trustee (including any identified as an interested person in part iv of schedule l), therefore, will recuse himself/herself from any board or committee meeting as required to avoid a conflict generated by any material financial interest, affiliation or other material relationship or interest.”

“Under the institute's document retention policy, the institute's practice is to retain documents for seven years.”

“All staff positions the institute's policy is to pay reasonable compensation under section 4958 to attract and retain a high caliber of employees to carry out its educational mission. The institute periodically conducts a review to determine the reasonable compensation ranges for comparable positions at similarly situated organizations, and sets compensation within the range of reasonable compensation. No interested party is permitted to participate in any review or decision. The last review was performed in 2018. Director and associate directors the institute participates in a survey of top administrative positions at similar institutions every 24 months. This survey, conducted by mercer, reviews cash and non-cash compensation benefits and trends. Based on this survey data, the associate director for finance and administration, along with the chief human resources officer, prepares a memo for the compensation committee of the board of trustees with data from the survey and, generally, a range of possible recommendations for the salary action for the director. For the two associate directors' salaries, the director, along with the chief human resources officer, prepares a memo for the board, again with data for comparable positions at similar institutions, and the director makes a recommendation on the salary increase for each of these positions. The compensation committee of the board, which is comprised of independent persons, reviews the recommendations and determines the actions to be taken. The committee documents its decisions on all three positions in writing to the chief human resources officer. Investment office the institute participates in a survey annually conducted by mercer for investment offices of foundations and universities. The survey provides wages and benefits (including incentive structures) for key investment office personnel at institutions with endowments comparable in size and complexity to the institute. The associate director for finance and administration, in consultation with the director and the chief human resources officer, prepares a set of recommendations for review by the compensation committee in conjunction with the investment committee of the board of trustees. The results are communicated in writing by a member of the compensation committee to the associate director. The associate director then informs the chief investment officer, investment director and investment analyst.”

“The organization does not currently make its governing documents or conflict of interest policy available to the public. Audited financial statements are available on the institute's website.”

“Form 990, part iii, line 1 the institute for advanced study (the institute) is one of the world's leading centers for theoretical research and intellectual inquiry. The institute exists to encourage and support fundamental research in the sciences and humanities - the original, often speculative, thinking that produces advances in knowledge that change the way we understand the world. It provides for the mentoring of scholars by faculty, and it offers all who work here the freedom to undertake research that will make significant contributions in any of the broad range of fields in the sciences and humanities studied at the institute. The institute is a private, independent academic institution located in princeton, new jersey. It was founded in 1930 by philanthropists louis bamberger and his sister caroline bamberger fuld, and established through the vision of the founding director abraham flexner. Past faculty have included albert einstein, who remained at the institute until his death in 1955, and distinguished scientists and scholars such as kurt godel, j. Robert oppennheimer, erwin panofsky, homer a. Thompson, john von neumann, george kennan and hermann weyl. Form 990, part iii, line 4a - program services work at the institute takes place in four schools: historical studies, mathematics, natural sciences, and social science. Currently, a permanent faculty of twenty-seven eminent academics guides the work of the schools and each year awards fellowships to some 190 visiting members, from about one hundred universities and research institutions throughout the world. Dr. Robbert dijkgraaf is the current director of the institute. Robbert dijkgraaf is a mathematical physicist who has made significant contributions to string theory and the advancement of science education. For his contributions to science, dijkgraaf was awarded the spinoza prize, the highest scientific award in the netherlands, in 2003, and was named a knight of the order of the netherlands lions in 2012. Dijkgraaf is a distinguished public policy adviser and passionate advocate for science and the arts. Many of his activities, which have included frequent appearances on dutch television, a monthly newspaper column in nrc handelsblad, several books for general audiences, and the launch of the science education website proefjes.nl, are at the interface between science and society. The institute for advanced study is dedicated to the disinterested pursuit of knowledge. In the more than eighty-eight years since its founding, the work of the institute's faculty and members has had permanent impact, in both intellectual and practical terms. At the beginning of computing, one of the first stored program computers was designed and built on the institute's campus, and its structure (von neumann architecture) has influenced the development of today's computers and formed the mathematical basis for computer software. The foundations of game theory, a powerful tool in economics, were formed in the school of mathematics at the institute, and much of the basis for modern theoretical meteorology was laid by research there. Research in the school of natural sciences has greatly advanced particle physics, including string theory and astrophysics. Research in the school of social science has wide-reaching impact on the field of global development. Books by faculty in the school of historical studies have become key texts in a range of historical disciplines and, in particular, have made essential contributions to the establishment of art history as a discipline in the united states. The institute's more than seven-thousand former members hold positions of intellectual and scientific leadership throughout the academic world. Some thirty three nobel laureates and forty-two of sixty fields medalists, as well as many winners of the wolf and macarthur prizes, have been affiliated with the institute. The institute has no formal links to other educational institutions. However, since i”

“Unrelated business taxable income from form 990-t the amount reported on part i, line 7b includes certain fringe benefit expenses subject to unrelated business taxable income under irc section 512(a)(7) amounts thgat are not classified as revenue and, therefore, not reported as such on form 990, part viii. Form 990 part vi line 11b - copy of form 990 the return is prepared by kpmg, the institute's independent accounting firm, based on information provided by the institute and in consultation with the institute's staff. The draft prepared by the accounting firm is then carefully reviewed by the institute's management and staff. Changes are made as appropriate. The board of trustees of the institute has delegated the review of the form 990 to the audit committee of the board of trustees. The audit committee reviews the form 990 and discusses any recommended changes with management of the institute. The form 990 is reviewed, in its entirety, including schedule b, by the institute's board of trustees. The terms of one gift listed in schedule b required confidentiality, and therefore, although the donor was listed in the schedule b provided to the board, the amount of the individual gift was not.”

“Change in fair value of bond swap liability: $1,130,869.”