The Pew Charitable Trusts

“A family relationship exists between Mary Catharine Pew, M.D. and J. Howard Pew II. A business relationship exists between Susan W. Catherwood, J. Howard Pew II, Joseph N. Pew V, and Sandy Ford Pew.”

“Pew's Form 1023 is made available to the public upon request. Pew's most recently-filed Forms 990 and 990-T are available on the organization's website. In accordance with Treas. Reg. 301.6104(d)-1(a) and IRS Notice 2007-45, copies of Pew's three most recent Forms 990 and 990-T are made available for inspection by the public during regular business hours at Pew's offices in Philadelphia and Washington, DC.”

“Pew amended its bylaws in December 2024 to remove outdated references to life directors.”

“After the form 990 is prepared by finance department staff members, the return is reviewed by senior management, including the senior vice president,chief financial officer and treasurer; senior vice president and general counsel; senior director, deputy general counsel and corporate secretary; controller and senior director, finance; and president and ceo; as well as outside certified public accountants and outside legal counsel. Following these reviews, the draft form 990 is provided to the audit committee of the pew board of directors to review. The audit committee meets to discuss the draft form 990, review significant changes from the prior year's form 990, and ask questions about the return. Attending the meeting are: the certified public accountants; senior vice president, chief financial officer and treasurer; senior vice president and general counsel; senior director, deputy general counsel and corporate secretary; and controller and senior director, finance. After feedback from the audit committee has been incorporated into the form 990, the return is distributed to all members of the pew board of directors for review. Board members are encouraged to contact the senior vice president and chief financial officer with any questions. Once board members' questions have been addressed the certified public accountants sign the return and it is filed with the irs.”

“Pew regularly and consistently monitors and enforces compliance with its conflict of interest policies. On an annual basis, all officers, directors, and employees certify that they have read and will continue to follow the applicable conflict of interest policy and complete a form disclosing their potential conflicts. Pew's conflict of interest policies requires the: (1)impartial fulfillment of their roles in Pew's affairs; (2)disclosure of actual or potential financial or other conflicts of interest involving Pew; (3)review of reportable affiliations; and (4)recusal and abstention in all situations of actual, potential, or perceived conflict of interest. These and other requirements are monitored, reviewed and resolved on an ongoing basis pursuant to the applicable conflict of interest policy.”

“Annually, the compensation and human capital committee of the board of Pew engages an independent compensation consultant to conduct compensation analyses for the organization's CEO, officers and key employees. As part of these analyses, the independent compensation consultant identifies, gathers, and analyzes appropriate comparability data upon which the committee and the full board rely to assess the reasonableness of the total proposed compensation (including benefits) of the CEO, officers, and key employees. The compensation consultant prepares written reports memorializing their analyses and provides them to Pew's compensation and human capital committee for review together with the compensation consultant's written opinion that the proposed compensation arrangements are "reasonable" within the meaning of Treas. Reg. 53.4958-4(b)(1)(ii)(A). The committee reviews the compensation consultant's analyses and opinions at a meeting, in which the consultant participates and responds to questions, and recommends any prospective compensation adjustments to the full board for approval. The full board makes annual decisions with respect to proposed compensation for the CEO, officers and key employees based upon the data in the relevant report and the opinion of the compensation consultant that the proposed compensation is reasonable. The board's decision regarding the proposed compensation increase and resulting total compensation for the CEO is also based on the board's assessment of the CEO's performance. These decisions, and the bases for these decisions, are contemporaneously documented in the minutes. The board members who vote on compensation for the CEO, officers, and key employees do not have a conflict of interest with respect to these compensation arrangements.”

“Refer to the narrative for Part VI, Line 15a above.”

“Pew's most recent audited financial statements are available on the organization's website. The organization does not make its governing documents available to the public.”

“As part of its charitable mission, Pew rents certain conference center space in 901 E Street NW, Washington, DC to organizations that are exempt from federal income tax under IRC Section 501(c)(3). Pew treats such revenue as related income since the activity is substantially related to Pew's exempt purposes. Accordingly, Pew has reported such income on the Form 990, Part VII, line 2a, column (b). The expenses related to the rental activity are included in various line items in Part IX, functional expenses.”

“Pew leases certain space at 901 E street NW, Washington, DC to an entity that is not exempt from federal income taxes under IRC Section 501(c)(3). However, less than 15 percent of the building is leased to this tenant. Therefore, as allowed under IRC Section 512(b) and Treas. Reg. 1.514(b)-1(b)(1)(ii), this revenue, net of related expenses, is excluded from unrelated business income, and Pew has reported the net Rental income on Form 990, Part VIII, line 6d, column (d).”

“(Expenses $ 0 including grants of $ 0)(Revenue $ 17,440) Conference center revenue”

“Unrealized foreign exchange gain - 4622; Change in fair value of interest rate swaps - -1090524; Other changes in postretirement benefits - -2146430; Reversal of prior year grant expense - 29940972; Total - 26708640;”