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← PROGRAM ON INTERNATIONAL FINANCIAL SYSTEMS INC

Form 990 for tax year 2024

Filed by PROGRAM ON INTERNATIONAL FINANCIAL SYSTEMS INC.

Totals

Total revenue
$5,310,399
Total expenses
$3,988,293
Contributions and grants received
$4,737,835
Grants paid
$0
Program service revenue
$480,358
Investment income
$83,877
Other revenue
$8,329
Total assets, end of year
$5,542,939
Total liabilities, end of year
$391,458
Net assets or fund balances, end of year
$5,151,481
Program services expenses (Part IX)
$3,029,910
Management and general expenses
$565,361
Fundraising expenses
$393,022
Program service expenses (Part III)
$3,029,910

Program services were 76.0% 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.

  • 1f · All other contributions, gifts and grants

    $4,737,835

  • 2a · Program service revenue: PROGRAM FEES

    total $480,358 · related or exempt $480,358

  • 3 · Investment income

    total $85,537 · excluded $85,537

  • 7a · Gross sales of assets other than inventory

    securities $122,636

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

    securities $124,296

  • 7c · Gain or loss

    securities -$1,660

  • 7d · Net gain or loss

    total -$1,660 · excluded -$1,660

  • 11a · Other revenue: OTHER INCOME

    total $8,329 · related or exempt $8,329

  • 11e · Other revenue, total

    $8,329

Functional expenses

Part IX, the statement of functional expenses.

  • 5 · Compensation of officers, directors and key employees

    total $1,354,507 · program services $848,641 · management and general $295,101 · fundraising $210,765

  • 7 · Other salaries and wages

    total $640,173 · program services $469,754 · management and general $75,313 · fundraising $95,106

  • 8 · Pension plan contributions

    total $14,907 · program services $9,853 · management and general $2,768 · fundraising $2,286

  • 9 · Other employee benefits

    total $32,885 · program services $16,992 · management and general $11,951 · fundraising $3,942

  • 10 · Payroll taxes

    total $102,861 · program services $67,987 · management and general $19,101 · fundraising $15,773

  • 11b · Fees: legal

    total $34,416 · program services $34,416

  • 11c · Fees: accounting

    total $38,926 · management and general $38,926

  • 11e · Fees: professional fundraising services

    total $1,406 · fundraising $1,406

  • 11f · Fees: investment management

    total $9,882 · management and general $9,882

  • 11g · Fees: other

    total $291,007 · program services $260,348 · management and general $16,898 · fundraising $13,761

  • 12 · Advertising and promotion

    total $7,316 · program services $2,759 · management and general $1,807 · fundraising $2,750

  • 13 · Office expenses

    total $52,786 · program services $43,842 · management and general $7,426 · fundraising $1,518

  • 14 · Information technology

    total $28,839 · program services $15,869 · management and general $10,754 · fundraising $2,216

  • 16 · Occupancy

    total $143,692 · program services $92,187 · management and general $29,930 · fundraising $21,575

  • 17 · Travel

    total $356,875 · program services $310,567 · management and general $24,384 · fundraising $21,924

  • 19 · Conferences, conventions and meetings

    total $792,803 · program services $784,876 · management and general $7,927

  • 22 · Depreciation, depletion and amortization

    total $7,442 · management and general $7,442

  • 23 · Insurance

    total $11,872 · program services $6,732 · management and general $5,140

  • 24a · Other expenses: HONORARIUM

    total $64,403 · program services $64,403

  • 24b · Other expenses: FEES, LICENSES & REGIST

    total $1,295 · program services $684 · management and general $611

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $133,443 · end of year $148,103

  • 2 · Savings and temporary cash investments

    beginning of year $1,605,821 · end of year $1,434,745

  • 3 · Pledges and grants receivable

    beginning of year $496,000 · end of year $1,977,584

  • 4 · Accounts receivable

    beginning of year $375 · end of year $17,950

  • 9 · Prepaid expenses and deferred charges

    beginning of year $273,440 · end of year $292,542

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

    $54,944

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

    $43,752

  • 10c · Land, buildings and equipment, net

    beginning of year $15,162 · end of year $11,192

  • 11 · Investments: publicly traded securities

    beginning of year $1,503,940 · end of year $1,658,219

  • 14 · Intangible assets

    beginning of year $6,076 · end of year $2,604

  • 17 · Accounts payable and accrued expenses

    beginning of year $318,489 · end of year $385,208

  • 19 · Deferred revenue

    beginning of year $11,850 · end of year $6,250

  • 27 · Net assets without donor restrictions

    beginning of year $2,565,418 · end of year $2,184,962

  • 28 · Net assets with donor restrictions

    beginning of year $1,138,500 · end of year $2,966,519

Mission and programs · 2024

Mission

THE PROGRAM ON INTERNATIONAL FINANCIAL SYSTEMS (PIFS) IS A 501(C)(3) ORGANIZATION THAT HOSTS INTERNATIONAL SYMPOSIA, EXECUTIVE EDUCATION PROGRAMS AND SPECIAL EVENTS THAT FOSTER DIALOGUE AND PROMOTE EDUCATION ON ISSUES IMPACTING THE GLOBAL FINANCIAL SYSTEM. PIFS ALSO SUPPORTS ACADEMIC SCHOLARSHIP ON THESE ISSUES.

Activities or mission (Part I)

THE PROGRAM ON INTERNATIONAL FINANCIAL SYSTEMS (PIFS) IS A 501(C)(3) ORGANIZATION THAT HOSTS INTERNATIONAL SYMPOSIA, EXECUTIVE EDUCATION PROGRAMS AND SPECIAL EVENTS THAT FOSTER DIALOGUE AND PROMOTE EDUCATION ON ISSUES AFFECTING THE GLOBAL FINANCIAL SYSTEM. PIFS ALSO SUPPORTS ACADEMIC SCHOLARSHIP ON THESE ISSUES.

  • THE PROGRAM ON INTERNATIONAL FINANCIAL SYSTEMS (PIFS) IS A 501(C)(3) ORGANIZATION THAT HOSTS INTERNATIONAL SYMPOSIA, EXECUTIVE EDUCATION PROGRAMS, AND SPECIAL EVENTS THAT FOSTER DIALOGUE AND PROMOTE EDUCATION ON ISSUES IMPACTING THE GLOBAL FINANCIAL SYSTEM. PIFS ALSO SUPPORTS ACADEMIC SCHOLARSHIP ON THESE ISSUES. IN 2024, PIFS HOSTED THREE SYMPOSIA WITH EUROPE, CHINA, AND JAPAN. EACH EVENT INCLUDED APPROXIMATELY 100 SENIOR POLICYMAKERS, FINANCIAL SECTOR EXECUTIVES, AND PROMINENT ACADEMICS TO FOSTER DIALOGUE ON POLICY ISSUES IMPACTING THE GLOBAL FINANCIAL SYSTEM. PIFS ALSO HOSTED ELEVEN EXECUTIVE EDUCATION PROGRAMS FOR GOVERNMENT OFFICIALS FROM FOREIGN COUNTRIES, FOUR OF WHICH WERE PARTNERSHIPS WITH HARVARD LAW SCHOOL EXECUTIVE EDUCATION, TWO OF WHICH WERE PARTNERSHIPS WITH THE INTERNATIONAL ORGANIZATION OF SECURITIES COMMISSIONS (IOSCO), AND ONE WHICH WAS A PARTNERSHIP WITH THE WORLD BANK. PIFS ALSO HOSTED SPECIAL EVENTS ON DISCRETE POLICY ISSUES, INCLUDING ONE EVENT CO-HOSTED WITH THE BANK OF JAPAN, AS WELL AS A ROUNDTABLE ON THE FUTURE OF DIGITAL ASSETS.

    Expenses $3,029,910 · Revenue $480,358

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

Listed in Part VII

  • Hal S Scott

    PRESIDENT/DIRECTOR

    Total calculated
    $690,000
    From this org
    $690,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    30

    Schedule J breakdown matched by us

    Base
    $580,000
    Bonus
    $110,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $690,000

  • Don Kanak

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Satoru Murase

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Thierry Porte

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Stephen Berger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • James Febeo

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Heath Tarbet

    DIRECTOR

    Total calculated
    $0
    Hours/week
    0.5

  • Jacqueline McCabe

    SECRETARY

    Total calculated
    $85,000
    From this org
    $85,000
    From related orgs
    $0
    Other
    $0
    Hours/week
    20

  • Cristina Leone

    TREASURER/CFO

    Total calculated
    $130,107
    From this org
    $120,785
    From related orgs
    $0
    Other
    $9,322
    Hours/week
    25

  • John A Gulliver

    EXECUTIVE DIRECTOR

    Total calculated
    $449,400
    From this org
    $430,000
    From related orgs
    $0
    Other
    $19,400
    Hours/week
    30

    Schedule J breakdown matched by us

    Base
    $375,000
    Bonus
    $55,000
    Other
    $0
    Deferred
    $7,275
    Nontaxable benefits
    $12,125
    Filer's total
    $449,400

  • Whitney Vasey

    DIRECTOR OF EVENTS

    Total calculated
    $200,901
    From this org
    $195,050
    From related orgs
    $0
    Other
    $5,851
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $150,000
    Bonus
    $10,000
    Other
    $35,050
    Deferred
    $5,851
    Nontaxable benefits
    $0
    Filer's total
    $200,901

  • Jonathan Ondrejko

    EXECUTIVE DIRECTOR OF PROGRAMS

    Total calculated
    $172,633
    From this org
    $161,782
    From related orgs
    $0
    Other
    $10,851
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $154,282
    Bonus
    $7,500
    Other
    $0
    Deferred
    $4,853
    Nontaxable benefits
    $5,998
    Filer's total
    $172,633

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 · First-class or charter travel
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 7 · Other non-fixed payments

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
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
FIRST CLASS TRAVEL IS PROVIDED FOR HAL S. SCOTT, PRESIDENT, IN THE CASE OF LONG TRIPS WHERE PRIVACY IS NEEDED FOR WORKING ON CONFIDENTIAL DOCUMENTS, WHEN BUSINESS CLASS TICKETS ARE NOT AVAILABLE, OR A FREE UPGRADE TO FIRST CLASS IS AVAILABLE.
PART I, LINE 7
ALL OFFICERS, KEY EMPLOYEES AND HIGHLY COMPENSATED EMPLOYEES RECEIVED A DISCRETIONARY BONUS IN 2024. THE BONUSES ARE DETERMINED BASED ON THE MARKET RATE FOR SIMILAR ROLES AT OTHER SIMILAR ORGANIZATIONS. THE BONUS WAS APPROVED BY THE BOARD OF DIRECTORS.

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.

Provenance

Return type
form_990
Tax year
2024
Filed
13 November 2025
IRS schema version
2024v5.2
Source object
202543189349302579

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