The Brookings Institution

“John Thornton and Brian Greenspun - business relationship”

“Following are summary of changes in bylaws: 1. New term limits were introduced, changing from a maximum of two or three 3-year terms (half were eligible for a third term) to a maximum of two 4-year terms (8 years total) with an extension for those in Board leadership positions. 2. In addition, the intent of the new bylaws is to eliminate the former practice of cycling Trustees to Honorary Trustee status and then re-electing them as voting Elected Trustees. 3. The category of Honorary Trustee was replaced with two new categories: Senior Trustee and Lifetime Trustee. 4. Two officer positions, Secretary and Treasurer, may be filled by Trustees (previously, those positions were held exclusively by staff). 5. Board officers have term limits. 6. Committees must have Vice Chairs.”

“The Executive Committee of the Board of Trustees has appointed the Audit Committee of the Board as the responsible board party for reviewing the form 990 and 990T each year starting with the fiscal year ended June 30, 2009. Once the form has been completed it is reviewed internally by the President, the Chief Financial Officer, the Controller, the General Counsel, and other members of the senior staff, along with the Audit Committee. Once those reviews are completed and the document has been approved, it is sent to all voting members of the Board of Trustees before it is filed with the Internal Revenue Service.”

“Each year, all Brookings personnel and certain affiliates are required to complete a disclosure and acknowledgment form related to the Institution's Conflict of Interest Policy. Specifically, all employees are required to acknowledge that they have read, understood, and are committed to abiding by the Institution's Conflict of Interest Policy as well as certain other Institutional policies and are additionally asked to make certain disclosures about their activities outside of work and finances to help identify possible conflicts of interest. All forms are submitted to the Office of the General Counsel, which reviews them and has discretion to make recommendations or raise concerns with affected individuals as appropriate. Minor issues involving potential or apparent conflicts of interest and questions about the same are resolved by the General Counsel in consultation with other members of senior management as appropriate. Major conflict of interest issues and conflict of interest issues involving Trustees have been referred to the Audit Committee. The General Counsel regularly confers with the Chair of the Audit Committee regarding the Institution's Conflict of Interest Policy and any conflict of interest issues.”

“The Institution's bylaws provide that there shall be a Compensation Committee consisting of not fewer than five (5) Trustees, including the Chair (or Co-Chairs) of the Board, the Vice Chair(s) and at least three (3) other Trustees who shall be nominated by the Chair (or Co-Chairs) of the Board and determined by the Board to be free of any contractual or other relationships that would put into question the exercise of his or her independent judgment. The Chair of the Compensation Committee shall be the Chair (or Co-Chairs) of the Board. The Vice Chair of the Compensation Committee shall be selected by the Chair (or Co-Chairs) of the Board. The Compensation Committee shall have the authority to set the salary of the President and such other officers, managers or employees as the Executive Committee or Audit Committee shall recommend be set by the Compensation Committee and in accordance with any Board-adopted compensation policy. In setting such salaries, the Compensation Committee shall gather and rely on relevant salary comparability data and shall record committee minutes that clearly document the committee's decisions and the rationale underlying such decisions.”

“Brookings' Conflict of Interest Policy and other key policies are available on our website, Brookings.edu. Brookings links to GuideStar.org from its website to provide the Form 990.”

“There were sixty board members who served at any time during the fiscal year. All board members who served during the fiscal year are shown in Part VII, Column A. At June 30, 2017, there were only fifty-nine voting board members.”

“The Brookings Institution (Brookings) is a nonprofit public policy organization that conducts in-depth, independent research with the goal of improving governance and solving problems facing society at the local, national and global level. Brookings achieves impact by providing policy analysis and recommendations on pressing policy challenges, which are disseminated through reports, books, media appearances, op-eds, blog posts, Congressional testimony, public and private events, and opinion pieces posted on Brookings's website, as well as briefings for policymakers and their staffs. Headquartered in Washington, DC, Brookings is organized into five research programs that focus on domestic and international economics, foreign policy, international development, governance, and metropolitan policy. Brookings has overseas centers in Qatar, China, and India. In 2016, Brookings adopted a new strategic plan that refocuses its mission, engages new audiences, promotes interdisciplinary collaboration, increases diversity, and strengthens efficiency and sustainability.”

“Brookings engaged in Program Service Revenue during the year, which is not listed on the prior Form 990. Program service revenue is trade or business income related to Brookings' exempt activities and is similar to an exchange transaction. The purpose of proposed activities are for the public benefit and/or the advancement of the Brookings educational and research mission. Brookings is not deviating from its exempt purpose but simply expanding it.”

“THE BROOKINGS INSTITUTION is awaiting additional information in order to timely file a complete and accurate form 990-t by the extended deadline of May 15, 2018. The amount shown as net unrelated business taxable income on line 7b of page 1 of the form 990 is an estimate based on available information.”

“Contacts/Professional Services: Program service expenses 9,219,985. Management and general expenses 2,108,135. Fundraising expenses 30,412. Total expenses 11,358,532. Qualified Subcontacts: Program service expenses 187,507. Management and general expenses 0. Fundraising expenses 0. Total expenses 187,507. Temporary Help: Program service expenses 626,876. Management and general expenses 73,407. Fundraising expenses 34,983. Total expenses 735,266.”

“Gain/(loss) on foreign currency exchange 171,850. Effect of adoption provisions SFAS No. 158 367,000. India Private Expenses not included in Form 990 -14,084.”