International Baccalaureate Organization

“Process used to review the form 990: the form 990 is prepared by the organization's independent tax accountant, ernst & young llp. The 990 is then reviewed and signed off by international baccalaureate organization's (ibo's) management.”

“Monitoring and enforcement of compliance with conflict of interest policy ib governance department includes the conflicts of interest policy in the package of each new board member, presents it during the induction session, asks for a signed copy of the register when he or she joins the board and regularly updates the registers. Also, the chair discusses any potential conflicts at the beginning of each board meeting according to the agenda items for the meeting.”

“Determining compensation of directors or top management officials the human resources (hr) committee (which is a committee of the board) deliberates on and decides the director general's salary in the first instance and reviews it annually. These decisions are documented. The hr committee uses benchmarking data, reviews information from independent consultants and consults with an external expert who sits on the hr committee. Then, the director general, with delegated authority by and in collaboration with the hr committee, decides the salaries of the other officers and key employees. These decisions are also documented.”

“Avail of gov docs, conflict of interest policy, and financial statements to the general public ibo made its financial report available to the general public by mailing it to all ib world schools and to all ib donors, and by including on the ib website. The conflict of interest policy is also available on the ib website. However, the governing documents are available to the public only upon request. Form 990, part vii, section a compensation certain individuals are not u.s residents or u.s. Employees; therefore, the compensation information for these individuals is provided using the best information available from the w-2 equivalent.”

“DESCRIPTION OF OTHER PROGRAM SERVICES THE IBO RECEIVED $1,942,703 OF INCOME FROM THE SALE OF PUBLICATIONS, $419,543 OF LEGALIZATION OF EXAM INCOME, AND AN ADDITIONAL $302,959 OF IB EDUCATOR CERTIFICATion FEE INCOME, ALL OF WHICH WAS RELATED TO THE ORGANIZATION'S EXEMPT FUNCTION. FORM 990, PART IV, LINE 12B & FORM 990, PART XII, LINE 2B FINANCIAL STATEMENTS THE INTERNATIONAL BACCALAUREATE ORGANIZATION (IBO) IS AN INDEPENDENT NOT-FOR-PROFIT ORGANIZATION REGISTERED IN SWITZERLAND, AND FUNCTIONS IN ACCORDANCE WITH THE SWISS CIVIL CODE. THE CONSOLIDATED FINANCIAL STATEMENTS OF IBO, AS AUDITED BY AN INDEPENDENT ACCOUNTANT, ARE PREPARED IN ACCORDANCE WITH THE SWISS CIVIL CODE.”

“OTHER CHANGES IN NET ASSETS Foreign EXCHANGE GAIN $1,804,520 ARGENTINA TRANSLATION ADJUSTMENT LOSS ($263,245) ______________ TOTAL $1,541,275”