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Nonprofiteer
← INTERNATIONAL RESEARCH AND EXCHANGES BOARD INC

Form 990 for tax year 2024

Filed by INTERNATIONAL RESEARCH AND EXCHANGES BOARD INC.

What the amendment changed

Compared with the return it replaced , filed 27 March 2026. matched by us Only the return's totals, a 990-PF's accounting method and the names listed in Part VII (Part VIII on a 990-PF) are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Those are the same on the two returns, so the amendment changed something else.

Totals

Total revenue
$146,620,152
Total expenses
$141,174,245
Contributions and grants received
$142,574,421
Grants paid
$33,317,056
Program service revenue
$0
Investment income
$3,642,604
Other revenue
$403,127
Total assets, end of year
$76,006,353
Total liabilities, end of year
$58,169,093
Net assets or fund balances, end of year
$17,837,260
Program services expenses (Part IX)
$117,084,074
Management and general expenses
$24,068,617
Fundraising expenses
$21,554
Program service expenses (Part III)
$117,084,074

Program services were 82.9% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1e · Government grants (contributions)

    $134,035,417

  • 1f · All other contributions, gifts and grants

    $8,539,004

  • 1g · Noncash contributions included above

    $5,619

  • 3 · Investment income

    total $297,867 · excluded $297,867

  • 7a · Gross sales of assets other than inventory

    securities $12,956,151

  • 7b · Less cost or other basis and sales expenses

    securities $9,611,414

  • 7c · Gain or loss

    securities $3,344,737

  • 7d · Net gain or loss

    total $3,344,737 · excluded $3,344,737

  • 11d · All other revenue

    total $403,127 · excluded $403,127

  • 11e · Other revenue, total

    $403,127

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $7,660 · program services $7,660

  • 2 · Grants to domestic individuals

    total $947,456 · program services $947,456

  • 3 · Grants to foreign organizations and individuals

    total $32,361,940 · program services $32,361,940

  • 5 · Compensation of officers, directors and key employees

    total $3,365,022 · program services $288,169 · management and general $3,076,853

  • 7 · Other salaries and wages

    total $35,267,472 · program services $25,873,804 · management and general $9,393,668

  • 8 · Pension plan contributions

    total $1,318,392 · program services $805,262 · management and general $513,130

  • 9 · Other employee benefits

    total $9,735,003 · program services $7,470,521 · management and general $2,264,482

  • 10 · Payroll taxes

    total $2,255,580 · program services $1,292,745 · management and general $962,835

  • 11b · Fees: legal

    total $123,685 · program services $141,635 · management and general -$17,950

  • 11c · Fees: accounting

    total $417,959 · program services $130,337 · management and general $287,622

  • 11f · Fees: investment management

    total $34,076 · management and general $34,076

  • 11g · Fees: other

    total $21,921,225 · program services $17,790,653 · management and general $4,109,226 · fundraising $21,346

  • 12 · Advertising and promotion

    total $323,688 · program services $46,090 · management and general $277,598

  • 13 · Office expenses

    total $1,606,638 · program services $1,177,607 · management and general $428,823 · fundraising $208

  • 16 · Occupancy

    total $3,382,365 · program services $2,275,855 · management and general $1,106,510

  • 17 · Travel

    total $2,699,603 · program services $2,353,231 · management and general $346,372

  • 19 · Conferences, conventions and meetings

    total $4,504,958 · program services $4,417,379 · management and general $87,579

  • 22 · Depreciation, depletion and amortization

    total $459,673 · program services $169,445 · management and general $290,228

  • 23 · Insurance

    total $375,571 · program services $86,441 · management and general $289,130

  • 24a · Other expenses: SUBCONTRACTS & TRANSFER

    total $10,793,894 · program services $10,793,894

  • 24b · Other expenses: PARTICIPANT TRAVEL, TAX

    total $6,237,029 · program services $6,237,029

  • 24c · Other expenses: PROPERTY & EQUIPMENT

    total $2,403,749 · program services $2,337,669 · management and general $66,080

  • 24d · Other expenses: APPLICATION & ALUMNI PR

    total $253,429 · program services $253,429

  • 24e · All other expenses

    total $378,178 · program services -$174,177 · management and general $552,355

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,673,820 · end of year $33,581,421

  • 2 · Savings and temporary cash investments

    beginning of year $267,145 · end of year $14,142,674

  • 3 · Pledges and grants receivable

    beginning of year $9,854,164 · end of year $5,460,843

  • 4 · Accounts receivable

    beginning of year -$152,638 · end of year -$178,696

  • 9 · Prepaid expenses and deferred charges

    beginning of year $5,842,615 · end of year $3,873,358

  • 10a · Land, buildings and equipment: cost or other basis

    $11,441,249

  • 10b · Land, buildings and equipment: accumulated depreciation

    $6,395,301

  • 10c · Land, buildings and equipment, net

    beginning of year $476,236 · end of year $5,045,948

  • 11 · Investments: publicly traded securities

    beginning of year $14,793,849 · end of year $3,229,757

  • 15 · Other assets

    beginning of year $3,729,703 · end of year $10,851,048

  • 17 · Accounts payable and accrued expenses

    beginning of year $13,845,692 · end of year $6,049,308

  • 19 · Deferred revenue

    beginning of year $6,407,434 · end of year $34,579,568

  • 25 · Other liabilities

    beginning of year $4,704,556 · end of year $17,540,217

  • 27 · Net assets without donor restrictions

    beginning of year $12,118,870 · end of year $15,400,953

  • 28 · Net assets with donor restrictions

    beginning of year $2,408,342 · end of year $2,436,307

Mission and programs · 2024

Mission

A NOT-FOR-PROFIT ORGANIZATION, IREX AND ITS PARTNERS EMPOWER YOUTH, CULTIVATE LEADERS, STRENGTHEN INSTITUTIONS, AND EXTEND ACCESS TO QUALITY EDUCATION AND INFORMATION. WE FOCUS ON EDUCATION, LEADERSHIP DEVELOPMENT, AND YOUTH EMPLOYABILITY TO BUILD STRONGER COMMUNITIES AND ECONOMIES WORLDWIDE.

  • WE SUPPORT PARTNERS TO DELIVER TANGIBLE BENEFITS TO THE PEOPLE THEY SERVE AND STRENGTHEN THE EFFECTIVENESS OF PUBLIC INSTITUTIONS. IREX PARTNERS WITH INSTITUTIONS AND CIVIC ORGANIZATIONS TO PROMOTE CONSTRUCTIVE SOLUTIONS TO CHALLENGES PEOPLE AND COMMUNITIES FACE.

    Expenses $33,293,262 · Grants $9,938,977

  • WE PREPARE LEADERS TO SOLVE PROBLEMS, BUILD NETWORKS, MAKE DECISIONS, AND DRIVE OUTCOMES. WE IDENTIFY THESE LEADERS, DEVELOP THEIR CAPABILITIES, PROVIDE OPPORTUNITIES, AND EXPAND THEIR NETWORKS TO INCREASE IMPACT.

    Expenses $30,365,139 · Grants $5,504,749

  • WE WORK WITH INDIVIDUALS, INSTITUTIONS, AND GOVERNMENTS AROUND THE WORLD TO IMPROVE THE QUALITY OF TEACHING AND LEARNING, INSIDE AND OUTSIDE THE CLASSROOM. WE WORK WITH TEACHERS AND ADMINISTRATORS, FROM SCHOOL THROUGH UNIVERSITY AND PROFESSIONAL TRAINING.

    Expenses $27,618,814 · Grants $8,820,250

  • WE SUPPORT THE FREE FLOW OF INFORMATION AND CRITICAL THINKING SO PEOPLE CAN MAKE INFORMED DECISIONS AND IMPROVE THEIR LIVES. WE WORK WITH INFORMATION CONSUMERS AND PRODUCERS TO ENSURE THAT PEOPLE CAN ENGAGE WITH HIGH-QUALITY CONTENT.

    Expenses $25,806,859 · Grants $9,053,081

As filed on the 2024 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Kristin Lord

    PRESIDENT (TO MAR '25)

    Total calculated
    $659,410
    From this org
    $618,736
    From related orgs
    $0
    Other
    $40,674
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $518,197
    Bonus
    $76,507
    Other
    $24,032
    Deferred
    $24,150
    Nontaxable benefits
    $16,524
    Filer's total
    $659,410

  • David Gross

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Liliana Ayalde

    VICE CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Vipul Amin

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Karen J Hanrahan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nathaniel Heller

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1 + 1 related

  • Niloo Howe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Karim Lesina

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Robert Mosbacher

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Vaithehi Muttulingam

    DIRECTOR (FROM OCT '24)

    Total calculated
    $0
    Hours/week
    1

  • Dr Moises Naim

    DIRECTOR (TO MAY '25)

    Total calculated
    $0
    Hours/week
    1

  • Raffiq Nathoo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Zeenat Rahman

    DIRECTOR (TO FEB '25)

    Total calculated
    $0
    Hours/week
    1

  • Jean-Louis Sarbib

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Rebecca Sharp

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Eileen Shields-West

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Aleem Walji

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Wade Warren

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Aaron Williams

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Santiago Sedaca

    EXECUTIVE VICE PRESIDENT

    Total calculated
    $389,246
    From this org
    $365,687
    From related orgs
    $0
    Other
    $23,559
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $333,011
    Bonus
    $25,000
    Other
    $7,676
    Deferred
    $22,730
    Nontaxable benefits
    $829
    Filer's total
    $389,246

  • Margarita P Fernandez Abarbieritel

    VICE PRESIDENT FOR GLOBAL OPERATIONS

    Total calculated
    $355,927
    From this org
    $325,310
    From related orgs
    $0
    Other
    $30,617
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $300,726
    Bonus
    $0
    Other
    $24,584
    Deferred
    $6,265
    Nontaxable benefits
    $24,352
    Filer's total
    $355,927

  • Jani Ilori

    VICE PRESIDENT, GLOBAL HR (TO DEC '24)

    Total calculated
    $354,781
    From this org
    $323,285
    From related orgs
    $0
    Other
    $31,496
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $315,343
    Bonus
    $0
    Other
    $7,942
    Deferred
    $22,526
    Nontaxable benefits
    $8,970
    Filer's total
    $354,781

  • Rebecca Bell Meszaros

    VICE PRESIDENT FOR GLOBAL PROGRAMS

    Total calculated
    $326,071
    From this org
    $281,773
    From related orgs
    $0
    Other
    $44,298
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $272,471
    Bonus
    $0
    Other
    $9,302
    Deferred
    $19,950
    Nontaxable benefits
    $24,348
    Filer's total
    $326,071

  • Richard Schrader

    ACTING CHIEF FINANCIAL OFFICER

    Total calculated
    $241,169
    From this org
    $215,690
    From related orgs
    $0
    Other
    $25,479
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $205,474
    Bonus
    $10,000
    Other
    $216
    Deferred
    $15,191
    Nontaxable benefits
    $10,288
    Filer's total
    $241,169

  • Anthony Latta

    CHIEF FINANCIAL OFFICER (TO APR '25)

    Total calculated
    $124,775
    From this org
    $118,560
    From related orgs
    $0
    Other
    $6,215
    Hours/week
    40

  • Kathy Thompson

    INTERIM PRESIDENT AND CEO (FEB TO SEP '25)

    Total calculated
    $0
    Hours/week
    40

  • Michael Mirny

    SENIOR PRACTICE DIRECTOR

    Total calculated
    $249,001
    From this org
    $209,208
    From related orgs
    $0
    Other
    $39,793
    Hours/week
    40 + 1 related

    Schedule J breakdown matched by us

    Base
    $208,848
    Bonus
    $0
    Other
    $360
    Deferred
    $15,379
    Nontaxable benefits
    $24,414
    Filer's total
    $249,001

  • Amy Bernath

    SENIOR PRACTICE DIRECTOR

    Total calculated
    $204,858
    From this org
    $190,629
    From related orgs
    $0
    Other
    $14,229
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $190,389
    Bonus
    $0
    Other
    $240
    Deferred
    $13,327
    Nontaxable benefits
    $902
    Filer's total
    $204,858

  • Evan Tracz

    SENIOR DEPUTY DIRECTOR

    Total calculated
    $213,644
    From this org
    $176,059
    From related orgs
    $0
    Other
    $37,585
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $175,507
    Bonus
    $0
    Other
    $552
    Deferred
    $13,104
    Nontaxable benefits
    $24,481
    Filer's total
    $213,644

  • Susan Ward

    CHIEF OF PARTY (TO APR '25)

    Total calculated
    $274,782
    From this org
    $256,078
    From related orgs
    $0
    Other
    $18,704
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $191,443
    Bonus
    $2,500
    Other
    $62,135
    Deferred
    $13,780
    Nontaxable benefits
    $4,924
    Filer's total
    $274,782

  • Bahruz Babayev

    CHIEF TECHNOLOGY OFFICER

    Total calculated
    $257,611
    From this org
    $239,981
    From related orgs
    $0
    Other
    $17,630
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $219,621
    Bonus
    $20,000
    Other
    $360
    Deferred
    $16,239
    Nontaxable benefits
    $1,391
    Filer's total
    $257,611

  • Oliver McCoy

    CHIEF OF PARTY

    Total calculated
    $252,239
    From this org
    $239,329
    From related orgs
    $0
    Other
    $12,910
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $164,858
    Bonus
    $0
    Other
    $74,471
    Deferred
    $7,985
    Nontaxable benefits
    $4,925
    Filer's total
    $252,239

  • Jean MacKenzie

    CHIEF OF PARTY (TO MAR '25)

    Total calculated
    $233,807
    From this org
    $216,684
    From related orgs
    $0
    Other
    $17,123
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $171,345
    Bonus
    $0
    Other
    $45,339
    Deferred
    $12,198
    Nontaxable benefits
    $4,925
    Filer's total
    $233,807

  • Junyi Wang

    DEPUTY CFO

    Total calculated
    $234,573
    From this org
    $206,708
    From related orgs
    $0
    Other
    $27,865
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $196,516
    Bonus
    $10,000
    Other
    $192
    Deferred
    $15,191
    Nontaxable benefits
    $12,674
    Filer's total
    $234,573

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
HOUSING ALLOWANCES ARE PROVIDED TO EXPATRIATE EMPLOYEES LOCATED IN IREX OVERSEAS FIELD OFFICE PROGRAMS. THE PROVISION OF THE HOUSING ALLOWANCE IS CONSISTENT WITH OR LOWER THAN WHAT IS COMMONLY PROVIDED BY THE US GOVERNMENT AND OTHER INTERNATIONAL DEVELOPMENT AGENCIES WHEN PLACING EMPLOYEES IN OVERSEAS LOCATIONS. HOUSING ALLOWANCES ARE DETERMINED ON A CASE BY CASE BASIS. FACTORS CONSIDERED INCLUDE THE COST OF HOUSING IN THE SPECIFIC COUNTRY, US GOVERNMENT HOUSING ALLOWANCE, AND NEGOTIATIONS WITH THE EXPATRIATE EMPLOYEE TO BE ASSIGNED TO THE LOCATION. EMPLOYEES SERVING AT OVERSEAS LOCATIONS INCLUDED AMONG THE HIGHEST COMPENSATED EMPLOYEES LISTED ON THE COMPENSATION SCHEDULE RECEIVED HOUSING ALLOWANCE BENEFITS WHICH WERE INCLUDED IN THEIR REPORTED COMPENSATION. NO HOUSING ALLOWANCE BENEFITS ARE PROVIDED TO DIRECTORS, OFFICERS, OR KEY EMPLOYEES.
PART I, LINE 3
COMPENSATION FOR IREX'S PRESIDENT & CEO IS SET AND APPROVED BY THE BOARD WHILE COMPENSATION FOR THE EXECUTIVE TEAM IS SET AND APPROVED BY THE PRESIDENT & CEO. EXECUTIVE SALARY STUDIES ARE UNDERTAKEN BY THE ORGANIZATION PERIODICALLY TO ASSIST IN DETERMINING COMPENSATION.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • INTERNATIONAL RESEARCH & EXCHANGES BOARD (GUARANTEED) LIMITED

    SOCIAL WELFARE · CE · income $0 · assets $164

    Directly controlled by IREX

Provenance

Return type
form_990
Tax year
2024
Filed
27 March 2026
IRS schema version
2024v5.5
Source object
202630869349300333

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