Iefile GRAPHIC print - DO NOT PROCESS As Filed Data - DLN: 93493282010467 Form990 Department Of the Trensun Iiitemnl Re\ cnuc Sen ice Return Of Organization Exempt From Income Tax 1545'0047 Under section 501(c), 527, or 4947(a)(1) of the Internal Revenue Code (except private 2 0 1 6 foundations) DO not enter SOClai security numbers on this form as it may be made public Information about Form 990 and Its Instructions is at IRS govgform990 Open to Public Inspection A For the 2016 calendar year, or tax year beginning 01-01-2016 and ending 12-31-2016 Check if applicable El Address change Name change Initial return Final Beturn/terminated El Amended return El Application pending Name Of organization Employer identification number AMERICAN FRIENDS OF THE INSTITUTE OF ECONOMIC AFFAIRS 54-1899539 busmess as Number and street (or 0 box if mail is not delivered to street address) Room/swte Telephone number 1201 STREET NW SECOND FLOOR (202) 449-8449 City or town, state or provmce, country, and ZIP or foreign postal code WASHINGTON, DC 20005 Gross receipts 183,005 Name and address Of prinCIpal Officer H(a) IS this a group return for MR ALEX CHAFUEN El 1201 ST NW 2ND FLOOR subordinates? Yes No WASHINGTON, DC 200054019 H(b) Aral ad? :gbordmates Yes i:iNO inc I Tax?exempt Status 501(c)(3) i:i 501(c)( 4 (insert no) i:i 4947(a)(1) or 527 If attach a list (see instructions) Website:> Group exemption number Form of organization Corporation i:i Trust i:i ASSOCiation Other Year Of formation 1997 State Of legal dom'C'le DC Summary 1 Briefly describe the organization?s mi55ion or most Significant actIVItieS cu Economic and SOClai Research 0 :5 2 Check this box if the organization discontinued its Operations or disposed Of more than 25% Of its net assets L5 3 Number Of voting members Of the governing body (Part VI, line 1a) 3 3 z: 4 Number Of independent voting members Of the governing body (Part VI, line 1bTotal number of indiViduals employed in calendar year 2016 (Part V, line 2a) 5 0 6 Total number Of volunteers (estimate if necessary) 6 0 2 7a Total unrelated busmess revenue from Part column (C), line Net unrelated bUSineSS taxable income from Form 990-T, line Prior Year Current Year a, 8 Contributions and grants (Part line 1h163,731 183,005 9 Program serVIce revenue (Part line 29Investment income (Part column (A), lines Other revenue (Part column (A), lines 5, 6d, 8c, 9c, 10c, and lie) 0 12 Total revenue?add lines 8 through 11 (must equal Part column (A), line 12) 153,731 183,005 13 Grants and Similar amounts paid (Part IX, column (A), lines 1?3 . . . 166,000 188,000 14 Benefits paid to or for members (Part IX, column (A), line Salaries, other compensation, employee benefits (Part IX, column (A), lines 5?10) 0 16a Profe55iona fundraismg fees (Part IX, column (A), line HeTotal fundraismg expenses (Part IX, column (D), line 25) P0 '1 17 Other expenses (Part IX, column (A), lines 11a?11d, 11f?24e) . . . . 1,060 213 18 Total expenses Add lines 13?17 (must equal Part IX, column (A), line 25) 167,060 188,213 19 Revenue less expenses Subtract line 18 from line -3,329 -5,208 3 3 Beginning of Current Year End of Year as 20 Total assets (Part X, line 1612,248 14,771 :2 21 Total liabilities (Part X, line 262LT- 22 Net assets or fund balances Subtract line 21 from line 20 . . . . . 12,248 14,771 Signature Block Under penalties of perjury, I declare that I have examined this return, including accompanying schedules and statements, and to the best Of my knowledge and belief, it IS true, correct, and complete Declaration of preparer (other than officer) is based on all information of which preparer has any knowledge 2017-10-09 Signature Of Officer Date Sign Here MR ALEX CHAFUEN PRESIDENT Type or print name and title Print/Type preparer's name Preparer's Signature Date i:i PTIN DAVID BURKHARDT CPA DAVID BURKHARDT CPA If Pald self?employed Preparer Firm's name Hendershot Burkhardt 8i Certified Public Accountants Firm's EIN Firm's address 7525 PreSIdential Lane Phone no 703 361-1592 Use Only Manassas, VA 20109 May the IRS discuss this return With the preparer Shown above? (see instructionsFor Paperwork Reduction Act Notice, see the separate instructions. Cat No 11282Y Form 990 (2016) Form 990 (2016) Page 2 Statement of Program Service Accomplishments 1 Check if Schedule 0 contains a response or note to any line In this Part . . . . . . . . . . . . . . l:l Briefly describe the organization's mi55ion Economic and Research 2 Did the organization undertake any Significant program serVIces during the year which were not listed on thepriorForm9900r990-EZ7 . . . . . . . . . . . . . . . . . . . . . l:lYes .No If "Yes," describe these new serVIces on Schedule 0 3 Did the organization cease conducting, or make Significant changes in how it conducts, any program l:lYes-No If "Yes," describe these changes on Schedule 4 Describe the organization's program serVIce accomplishments for each of its three largest program serVIces, as measured by expenses Section 501(c)(3) and 501(c)(4) organizations are reqUIred to report the amount of grants and allocations to others, the total expenses, and revenue, if any, for each program serVIce reported 4a (Code (Expenses 188,000 including grants of 188,000 (Revenue See Additional Data 4b (Code (Expenses including grants of (Revenue 4c (Code (Expenses including grants of (Revenue 4d Other program serVIces (Describe in Schedule 0 (Expenses including grants of (Revenue 4e Total program service expenses? 188,000 Form 990 (2016) Form 990 (2016Page 3 Checklist of Required Schedules Yes No Is the organization described In section 501(c)(3) or 4947(a)(1) (other than a private Foundation)? If "Yes,? complete Yes Schedule A 1 Is the organization reqUIred to complete Schedule 5, Schedule of Contributors (see instructions)? '25] . 2 YES Did the organization engage in direct or indirect political campaign actIVItieS on behalf of or in oppOSition to candidates No for public office? If ?Yes," complete Schedule C, Part I 3 Section 501(c)(3) organizations. Did the organization engage in lobbying actiwties, or have a section 501(h) election in effect during the tax year? If ?Yes, complete Schedule C, Part II . 4 N0 Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or Similar amounts as defined in Revenue Procedure 98-197 If ?Yes, complete Schedule C, Part 5 N0 Did the organization maintain any donor adVIsed funds or any Similar funds or accounts for which donors have the right to prowde adVIce on the distribution or investment of amounts in such funds or accounts? If ?Yes, complete Schedule D, Part I 5 N0 Did the organization receive or hold a conservation easement, including easements to preserve open space, the enVIronment, historic land areas, or historic structures? If ?Yes, complete Schedule D, Part II 7 N0 Did the organization maintain collections of works of art, historical treasures, or other Similar assets? If ?Yes, complete Schedule D, Part 8 N0 Did the organization report an amount in Part X, line 21 for escrow or custodial account liability, serve as a custodian for amounts not listed in Part X, or prowde credit counseling, debt management, credit repair, or debt negotiation serwces'PIf "Yes," complete Schedule D, Part Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, 10 No permanent endowments, or quaSI-endowments? If ?Yes," complete Schedule D, Part . If the organization's answer to any of the followmg questions is "Yes," then complete Schedule D, Parts VI, VII, IX, or as applicable Did the organization report an amount for land, bUIldings, and eqUIpment in Part X, line 107 If ?Yes, complete Schedule D, Part Did the organization report an amount for investments?other securities in Part X, line 12 that is 5% or more of its total assets reported in Part X, line 167 If "Yes, complete Schedule D, Part VII 11b N0 Did the organization report an amount for investments?program related in Part X, line 13 that is 5% or more of its total assets reported in Part X, line 16? If "Yes," complete Schedule D, Part 11c N0 Did the organization report an amount for other assets in Part X, line 15 that is 5% or more of its total assets reported in Part X, line 167 If "Yes, complete Schedule D, Part IX 11d N0 Did the organization report an amount for other liabilities in Part X, line 25? If "Yes," complete Schedule D, PartX 11 0 Did the organization's separate or consolidated finanCIal statements for the tax year include a footnote that addresses 11f No the organization's liability for uncertain tax p05itions under FIN 48 (ASC 740)? If "Yes," complete Schedule D, Part Did the organization obtain separate, independent audited finanCIal statements for the tax year? If "Yes, complete Schedule D, Parts XI and XII 12a No Was the organization included in consolidated, independent audited finanCIal statements for the tax year? 12b No If ?Yes, and if the organization answered "No? to line 12a, then completing Schedule D, Parts XI and XII iS optional IS the organization a school described in section 170(b)(1)(A)(ii)7 If ?Yes," complete Schedule 13 No Did the organization maintain an office, employees, or agents outSIde of the United States? 14a No Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraiSing, busmess, investment, and program serVIce actiwties outside the United States, or aggregate foreign investments valued at $100,000 or more? If "Yes," complete Schedule F, Parts Did the organization report on Part IX, column (A), line 3, more than $5,000 of grants or other a55istance to or for any foreign organization? If "Yes, complete Schedule F, Parts II and IV . 15 es Did the organization report on Part IX, column (A), line 3, more than $5,000 of aggregate grants or other aSSistance to or for foreign indiViduals'? If "Yes, complete Schedule F, Parts and IV . . 16 N0 Did the organization report a total of more than $15,000 of expenses for profeSSional fundraiSing serVIces on Part IX, 17 No column (A), lines 6 and 11e7 If ?Yes," complete Schedule G, PartI (see instructions) Did the organization report more than $15,000 total of fundraiSing event gross income and contributions on Part lines 1c and 8a? If "Yes," complete Schedule G, Part II . 18 No Did the organization report more than $15,000 of gross income from gaming actIVIties on Part line 9a? If ?Yes," complete Schedule G, Part . 19 N0 Form 990 (2016) Form 990 (2016) Page 4 Checklist of Required Schedules (continued) Yes No 203 Did the organization operate one or more hospital faCIlities? If ?Yes," complete Schedule . 20a No If "Yes" to line 20a, did the organization attach a copy of its audited finanCIal statements to this return? 20b 21 Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic 21 No government on Part IX, column (A), line 1? If "Yes,? complete Schedule I, Parts Did the organization report more than $5,000 of grants or other a55istance to or for domestic indiViduals on Part IX, 22 column (A), line 2? If "Yes, complete Schedule I, Parts I and . N0 23 Did the organization answer "Yes" to Part VII, Section A, line 3, 4, or 5 about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees? If ?Yes," 23 N0 complete Schedule . 24a Did the organization have a tax- -exempt bond issue With an outstanding prinCIpal amount of more than $100, 000 as of the last day of the year, that was issued after December 31, 2002? If "Yes, answer lines 24b through 24d and complete Schedule If go to line 25a . 24a No Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception? . 24b Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds? 24c Did the organization act as an "on behalf of" issuer for bonds outstanding at any time during the year? 24d 25a Section 501(c)(3), 501(c)(4), and 501(c)(29) organizations. Did the organization engage in an excess benefit transaction With a disqualified person during the year? If "Yes," complete Schedule L, Part I . 25a No Is the organization aware that it engaged in an excess benefit transaction With a disqualified person in a prior year, and that the transaction has not been reported on any of the organization?s prior Forms 990 or 25b No If "Yes, complete Schedule L, Part Did the organization report any amount on Part X, line 5, 6, or 22 for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons? 26 No If ?Yes, complete Schedule L, Part II 27 Did the organization prowde a grant or other a55istance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member 27 No of any of these persons? If "Yes, complete Schedule L, Part . 28 Was the organization a party to a business transaction With one of the fo 0Wing parties (see Schedule L, Part IV instructions for applicable filing thresholds, conditions, and exceptions) a A current or former officer, director, trustee, or key employee? If "Yes," complete Schedule L, Part IV 28a No A family member of a current or former officer, director, trustee, or key employee? If "Yes," complete Schedule L, Part entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner? If "Yes, complete Schedule L, Part IV . 28: N0 29 Did the organization receive more than $25,000 in non-cash contributions? If "Yes,? complete Schedule . 29 No 30 Did the organization receive contributions of art, historical treasures, or other Similar assets, or qualified conservation contributions? If ?Yes, complete Schedule 30 N0 31 Did the organization liqUIdate, terminate, or dissolve and cease operations? If ?Yes," complete Schedule N, PartI . No 31 32 Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets? If ?Yes, complete Schedule N, Part II 32 N0 33 Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301 7701-2 and 301 7701-3? If ?Yes, complete Schedule R, PartI . . . . . 33 N0 34 Was the organization related to any tax- -exempt or taxable entity? If "Yes,? complete Schedule R, Part II, or IV, and 34 Part V, line 1 es 353 Did the organization have a controlled entity Within the meaning of section 512(b)(13)? 35a N0 If ?Yes' to line 35a, did the organization receive any payment from or engage in any transaction With a controlled entity Within the meaning of section 512(b)(13)? If "Yes," complete Schedule R, Part V, line 2 35b N0 36 Section 501(c)(3) organizations. Did the organization make any transfers to an exempt non-charitable related organization? If "Yes, complete Schedule R, Part V, line 2 36 37 Did the organization conduct more than 5% of its actIVIties through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes? If "Yes, complete Schedule R, Part VI 37 N0 38 Did the organization complete Schedule 0 and prowde explanations in Schedule 0 for Part VI, lines 11b and 19? Note. All Form 990 filers are reqUIred to complete Schedule 0 38 Yes Form 990 (2016) Form 990 (2016) Page 5 Statements Regarding Other IRS Filings and Tax Compliance Check If Schedule 0 contains a response or note to any line In this Part . Enter the number reported In Box 3 of Form 1096 Enter -0- If not applicable . . 1a Enter the number of Forms W-ZG Included In line 1a Enter -0- If not applicable 1b Did the organizatIon comply With backup Withholding rules for reportable payments to vendors and reportable gaming (gambling) WinnIngs to prIze Winners? 1c Yes Enter the number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, ?led for the calendar year ending WIth or WIthIn the year covered by 2a 0 If at least one IS reported on line 2a, dId the organization We all reqUIred federal employment tax returns? 2b Note.If the sum of lines 1a and 2a Is greater than 250, you may be reqUIred to e-fIle (see instructions) Did the organization have unrelated busmess gross income of $1,000 or more during the year? 3a No If ?Yes," has It ?led a Form 990-T for thIs year7If "No? to line 3b, prowcle an explanation In Schedule 0 3b At any time during the calendar year, did the organization have an Interest In, or a Signature or other authorIty over, a finanCIal account In a foreign country (such as a bank account, securities account, or other ?nancial account)? 4a No If "Yes," enter the name of the foreign country See Instructions for ?ling reqUIrements for Form 114, Report of Foreign Bank and FinanCIal Accounts (FBAR) Was the organization a party to a prohibited tax shelter transaction at any time during the tax year? 5a No Did any taxable party notIfy the organization that It was or Is a party to a prohibited tax shelter transaction? 5b No If "Yes," to lIne 5a or 5b, did the organIzation ?le Form 8886-T7 5c Does the organizatIon have annual gross reCEIpts that are normally greater than $100,000, and did the organization 6a No what any contributions that were not tax deducthle as charItable contributions? If "Yes," dId the organIzatIon Include WIth every so ICItatIon an express statement that such contrIbutIons or were not tax deducthle7 . . . . . . . . . . . . . 6b Organizations that may receive deductible contributions under section 170(c). Did the organizatIon receive a payment In excess of $75 made partly as a contribution and partly for goods and serVIces 7a No prowded to the payor? If "Yes," dId the organIzatIon notIfy the donor of the value of the goods or serVIces prowded" 7b Did the organizatlon sell, exchange, or otherWIse dIspose of tangible personal property for which It was reqUIred to ?le Form82827 7c No If "Yes," Indicate the number of Forms 8282 ?led during the year . . . . I 7d I Did the organizatlon receive any funds, directly or Indirectly, to pay premiums on a personal bene?t contract? 7e No Did the organizatIon, during the year, pay premiums, dIrectly or IndIrectly, on a personal benefit contract? 7f No If the organization received a contrIbutIon of qualified Intellectual property, did the organization ?le Form 8899 as reqUIredthe organization received a contrIbutIon of cars, boats, airplanes, or other vehIcles, dId the organizatIon file a Form 1098-C7 7h Sponsoring organizations maintaining donor advised funds. Did a donor adVIsed fund maIntained by the sponsorIng organIzatIon have excess busmess holdIngs at any tIme durIng the year? 8 Did the sponsorIng organIzatIon make any taxable dIstrIbutIons under section 49667 9a Did the sponsorIng organIzatIon make a dIstrIbutIon to a donor, donor adVIsor, or related person? 9b Section 501(c)(7) organizations. Enter InItiatIon fees and capItal contrIbutIons Included on Part line 12 . . . 10a Gross receipts, Included on Form 990, Part line 12, for public use of club 10b Section 501(c)(12) organizations. Enter Gross Income from members or shareholders . . . . . . . . . 11a Gross Income from other sources (Do not net amounts due or paid to other sources against amounts due or received from them . . . . . . . . . . 11b Section 4947(a)(1) non-exempt charitable trusts. Is the organizatIon filing Form 990 In lIeu of Form 10417 12a If "Yes," enter the amount of tax-exempt Interest received or accrued durIng the year 12b Section 501(c)(29) qualified nonprofit health insurance issuers. Is the organization lIcensed to Issue qualified health plans In more than one state?Note. See the InstructIons for addItional InformatIon the organIzatIon must report on Schedule 0 13a Enter the amount of reserves the organization IS reqUIred to maintaIn by the states In which the organIzatIon Is licensed to Issue quaIIfied health plans . . . . 13b Enter the amount of reserves on hand . . . . . . . . . . . . 13c Did the organizatIon receive any payments for Indoor tannIng serVIces durIng the tax year? 14a No If "Yes," has It ?led a Form 720 to report these payments7If ?No,"prov1cle an explanation In Schedule 0 . 14b Form 990 (2016) Form 990 (2016) Page 6 Governance, Management, and DisclosureFor each "Yes" response to ?nes 2 through 7b below, and for a "No? response to lines 8a, 8b, or 10b below, descrIbe the Circumstances, processes, or changes In Schedule 0 See Instructions Check If Schedule 0 contaIns a response or note to any Ine In thIs Part Section A. Governing Body and Management Yes No 1a Enter the number of votIng members of the governIng body at the end of the tax year 1a 3 If there are materIal differences In votIng rIghts among members of the governIng body, or If the governIng body delegated broad authority to an executIve commIttee or 5ImIIar commIttee, explaIn In Schedule 0 Enter the number of votIng members Included In 1a, above, who are Independent 1b 3 2 any of?cer, dIrector, trustee, or key employee have a famIIy relatIonshIp or a busmess relatIonshIp WIth any other of?cer, dIrector, trustee, or key employeethe organIzatIon delegate control over management dutIes customarIIy performed by or under the dIrect superVIsIon 3 No of of?cers, dIrectors or trustees, or key employees to a management company or other person? 4 the organIzatIon make any 5IgnIfIcant changes to Its governIng documents smce the prIor Form 990 was ?led? 4 No 5 the organIzatIon become aware durIng the year of a 5IgnIfIcant dIverSIon of the organIzatIon's assets? . 5 No the organIzatIon have members or stockholdersthe organIzatIon have members, stockholders, or other persons who had the power to elect or appOInt one or more . . . . . . . . . . . . . . . . . . . . 7a No Are any governance deCISIons of the organIzatIon reserved to (or subject to approval by) members, stockholders, or 7b No persons other than the governIng body? 8 the organIzatIon contemporaneously document the meetIngs held or ertten actIons undertaken durIng the year by the followmg 8a No Each commIttee WIth authorIty to act on behalf of the governIng bodythere any of?cer, dIrector, trustee, or key employee Isted In Part VII, SectIon A, who cannot be reached at the organIzatIon?s address? If ?Yes," provrde the names and addresses In Schedule Section B. Policies (Thrs Sectron 3 requests mformatron about polrcres not requIred by the Internal Revenue Code.) Yes No 10a the organIzatIon have local chapters, branches"Yes," dId the organIzatIon have ertten po ICIes and procedures governIng the actIVItIes of such chapters, and branches to ensure thalr operatIons are conSIstent WIth the organIzatIon's exempt purposes? 10b 11a Has the organIzatIon prOVIded a complete copy of thIs Form 990 to all members of Its governIng body before fIlIng the DescrIbe In Schedule 0 the process, If any, used by the organIzatIon to reVIew thIs Form 990 12a the organIzatIon have a ertten coanIct of Interest pollcyWere offIcers, dIrectors, or trustees, and key employees reqUIred to dIsclose annually Interests that could gIve rIse to 12b the organIzatIon regularly and conSIstently monItor and enforce compllance WIth the pollcy? If ?Yes," descrIbe In ScheduleOhowthIswaso?one . . . . . . . . . . . . . . . . . . . 12c 13 the organIzatIon have a ertten pollcythe organIzatIon have a ertten document retentIon and destructIon pollcythe process for determInIng compensatIon of the followmg persons Include a reVIew and approval by Independent persons, data, and contemporaneous substantIatIon of the deIIberatIon and deCISIon7 a The organIzatIon's CEO, ExecutIve DIrector, or top management offICIal . . . . . . . . . . . 15a No Other of?cers or key employees of the organIzatIon . . . . . . . . . . . . . . . . 15b No If "Yes" to Me 15a or 15b, descrIbe the process In Schedule 0 (see InstructIons) 16a the organIzatIon Invest In, contrIbute assets to, or partICIpate In a Jomt venture or 5ImI ar arrangement WIth "Yes," dId the organIzatIon follow a ertten pollcy or procedure reqUIrIng the organIzatIon to evaluate Its partICIpatIon In Jomt venture arrangements under appIIcable federal tax law, and take steps to safeguard the organIzatIon?s exempt status WIth respect to such arrangements16b Section C. Disclosure 17 LIst the States WIth a copy of thIs Form 990 Is reqUIred to be ?led? DC 18 SectIon 6104 reqUIres an organIzatIon to make Its Form 1023 (or 1024 If appIIcable), 990, and 990-T (501(c)(3)s only) avaIIable for publIc InspectIon IndIcate how you made these avaIIable Check all that apply l:l Own webSIte Another's websIte Upon request l:l Other (explaIn In Schedule 0) 19 DescrIbe In Schedule 0 whether (and If so, how) the organIzatIon made Its governIng documents, of Interest pollcy, and fInanCIal statements avallable to the publIc durIng the tax year 20 State the name, address, and telephone number of the person who possesses the organIzatIon's books and records PBRADLEY LIPS 1201 ST NW 2ND FLOOR WASHINGTON, DC 20005 (202) 449-8449 Form 990 (2016) Form 990 (2016) Page 7 Compensation of Officers, Directors,Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors Check If Schedule 0 contains a response or note to any line In this Part VII . . . . . . . . . El Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees 1a Complete this table for all persons reqUIred to be listed Report compensation for the calendar year ending With or Within the organization's tax year 0 List all of the organization?s current officers, directors, trustees (whether indiViduals or organizations), regardless of amount of compensation Enter -0- in columns (D), (E), and (F) if no compensation was paid 0 List all of the organization's current key employees, If any See instructions for definition of "key employee 0 List the organization's five current highest compensated employees (other than an officer, director, trustee or key employee) who received reportable compensation (Box 5 of Form W-2 and/or Box 7 of Form 1099-MISC) of more than $100,000 from the organization and any related organizations 0 List all of the organization's former officers, key employees, or highest compensated employees who received more than $100,000 of reportable compensation from the organization and any related organizations 0 List all of the organization?s former directors or trustees that received, in the capaCIty as a former director or trustee of the organization, more than $10,000 of reportable compensation from the organization and any related organizations List persons in the Followmg order IndiVidual trustees or directors, institutional trustees, officers, key employees, highest compensated employees, and former such persons Check this box if neither the organization nor any related organization compensated any current officer, director, or trustee (A) (B) (C) (D) (E) (F) Name and Title Average P05ition (do not check more Reportable Reportable Estimated hours per than one box, unless person compensation compensation amount of other week (list is both an officer and a from the from related compensation any hours director/trustee) organization organizations from the for related 3? It I (W- 2/1099- (W- 2/1099- organization and i_ i :n organizations :i I, 3,5 MISC) MISC) related below dotted f? 1337 3 organizations lineALEJANDRO CHAFUEN 5 00 PRESIDENT (2) BRADLEY LIPS 1 00 (3) CINDY CERQUITELLA 1 00 SECRETARY Form 990 (2016) Form 990 (2016) Page 8 Section A. Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees (continued) (A) (B) (C) (D) (E) (F) Name and Title Average P05ition (do not check more Reportable Reportable Estimated hours per than one box, unless person compensation compensation amount of other week (list is both an officer and a from the from related compensation any hours director/trustee) organization (W- organizations (W- from the for related - A pt. ,0 I organization and :i organizations it: 3 3,0 related below dotted 23 rt 1; 3 organizations lineTotal from continuation sheets to Part VII, Section A . . . . dTotal (add lines Total number of indiViduals (including but not limited to those listed above) who received more than $100,000 of reportable compensation from the organization 0 Yes No 3 Did the organization list any former officer, director or trustee, key employee, or highest compensated employee on line 1a? If ?Yes," complete Schedule .7 for such indiwduaiFor any indiVidual listed on line 1a, is the sum of reportable compensation and other compensation from the organization and related organizations greater than $150,000? If ?Yes, complete Schedule for such No 5 Did any person listed on line 1a receive or accrue compensation from any unrelated organization or indiVidual for serVIces rendered to the organization'PIir ?Yes," complete Schedule for such person . . . . . . . . 5 No Section B. Independent Contractors 1 Complete this table for your five highest compensated independent contractors that received more than $100,000 of compensation from the organization Report compensation for the calendar year ending With or Within the organization?s tax year A) (B) Name and business address Description of serVIces (C) Compensation 2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 0 Form 990 (2016) Form 990 (2016) Statement of Revenue Check if Schedule 0 contains a response or note to any line In this Part Page 9 El (A) (B) (C) (D) Total revenue Related or Unrelated Revenue exempt bu5iness excluded from Function revenue tax under sections revenue 512-514 Contributions, Gifts. Grants and Other Similar Amounts 1a Federated campaigns Membership dues . Fundraismg events . Related organizations All other contributions, gifts, grants, and Similar amounts not included 1f above 9 Noncash contributions included in lines 1a-Program Serwce Reventie Governmentgrants (contributions) I la I 183,005 183,005 Busmess Code All other program serVIce revenue 9Total.Addline52a?2f. . . . Other Revenue Similar amounts) 4 Income from investment of tax-exempt bond proceeds 5 Royalties 3 Investment income (including diVidends, interest, and other I Real (ii) Personal 6a Gross rents Less rental expenses Rental income or (loss) Net rental income or (loss) I Securities (ii) Other Gross amount from sales of assets other than inventory Less cost or other ba5is and sales expenses Gain or (loss) Net gain or (loss) . 8a Gross income from fundraismg events (not including of contributions reported on line 1c) See Part IV, line 18 . . . . a bLess directexpenses . . . (2 Net income or (loss) from fundraismg events 9a Gross income from gaming actIVIties See Part IV, line 19 bLess directexpenses . . . Net income or (loss) from gaming actIVIties 10aGross sales of inventory, less returns and allowances Less cost of goods sold . . Net income or (loss) from sales of inventory Miscellaneous Revenue Busmess Code 11a All other revenue eTotal. Add lines 11a?11d 12 Total revenue. See Instructions 183,005 Form 990 (2016) Form 990 (2016) Page 10 Statement of Functional Expenses Section 501(c)(3) and 501(c)(4) organizations must complete all columns All other organizations must complete column (A) Check if Schedule 0 contains a response or note to an line in this Part IX El Do 7b, not include amounts reported on lines 6b, 8b, 9b, and 10b of Part (A) Total expenses (B) Program se FVICE expenses (C) Management and general expenses (D) Fundraismgexpenses l-l Grants and other a55istance to domestic organizations and domestic governments See Part IV, line 21 2 Grants and other a55istance to domestic indiViduals See Part IV, line 22 3 Grants and other a55istance to foreign organizations, foreign 188,000 188,000 governments, and foreign indIVIduals See Part IV, line 15 and 16 .h Benefits paid to or for members 01 Compensation of current officers, directors, trustees, and key employees 6 Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) . . Other salaries and wages NI Pen5ion plan accruals and contributions (include section 401 and 403(b) employer contributions) 9 Other employee benefits 10 Payroll taxes 11 Fees for serVIces (non-employees) a Management Legal Accounting Lobbying Professwnal fundraismg serVIces See Part IV, line 17 Investment management fees 9 Other (If line amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) 12 Advertismg and promotion 13 Office expenses 14 Information technology 15 Royalties 16 Occupancy 17 Travel 18 Payments of travel or entertainment expenses for any federal, state, or local public offICIals 19 Conferences, conventions, and meetings 20 Interest 21 Payments to affiliates 22 DepreCIation, depletion, and amortization 23 Insurance 24 Other expenses Itemize expenses not covered above (List miscellaneous expenses in line 24a If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule 0 a BANK FEES 78 0 78 0 135 135 FILING FEES All other expenses 25 Total functional expenses. Add lines 1 through 24e 188,213 133,000 213 0 26 Joint costs. Complete this line only if the organization reported in column (B) JOint costs from a combined educational campaign and fundraismg SOIICItation Check here l:l if followmg SOP 98-2 (ASC 958-720) Form 990 (2016) Form 990 (2016) Balance Sheet Page 11 Check If Schedule 0 contaIns a response or note to any lIne In thIs Part IX El (A) (B) BegInnIng of year End of year 1 Cash?non-Interest-bearlng 12,248 1 14,771 2 Savmgs and temporary cash Investments 2 3 Pledges and grants recerable, net 3 4 Accounts recerable, net 4 5 Loans and other recerables from current and former of?cers, directors, trustees, key employees, and hIghest compensated employees Complete Part 5 II of Schedule 6 Loans and other recerables from other persons (as de?ned under sectIon 4958(f)(1)), persons descrIbed In sectIon 4958(c)(3)(B), and contrIbutIng employers and sponsorIng organIzatIons of sectIon 501(c)(9) 6 voluntary employees' benefICIary organIzatIons (see InstructIons) Complete an Part II of Schedule 7 Notes and loans recerable, net 7 a InventorIes for sale or use PrepaId expenses and deferred charges 9 10a Land, bUIldIngs, and eqUIpment cost or other has Complete Part VI of Schedule 103 Less accumulated depreCIatIon 10b 10c 11 traded securItIes 11 12 Investments?other securItIes See Part IV, lIne 11 12 13 Investments?program-related See Part IV, lIne 11 13 14 IntangIble assets 14 15 Other assets See Part IV, lIne 11 15 16 Total assets.Add lInes 1 through 15 (must equal lIne 34) 12,248 16 14.771 17 Accounts payable and accrued expenses 17 18 Grants payable 18 19 Deferred revenue 19 20 Tax-exempt bond IabI ItIes 20 v. 21 Escrow or custodIal account IabI Ity Complete Part IV of Schedule 21 '9 22 Loans and other payables to current and former offIcers, dIrectors, trustees, key employees, hIghest compensated employees, and A cc persons Complete Part II of Schedule 22 ?1 23 Secured mortgages and notes payable to unrelated thIrd partIes 23 24 Unsecured notes and loans payable to unrelated thIrd partIes 24 25 Other IabI ItIes (IncludIng federal Income tax, payables to related thIrd partIes, 25 and other IabI ItIes not Included on lInes 17-24) Complete Part of Schedule 26 Total Iiabilities.Add lInes 17 through 25 0 26 0 3 Organizations that follow SFAS 117 (ASC 958), check here and 2 complete lines 27 through 29, and lines 33 and 34. 27 UnrestrIcted net assets 12,248 27 14,771 28 Temporarlly net assets 28 29 Permanently net assets 29 ,2 Organizations that do not follow SFAS 117 (ASC 958), 5 check here l:l and complete lines 30 through 34. 30 CapItal stock or trust prInCIpal, or current funds . 30 a; 31 PaId-In or capItal surplus, or land, or eqUIpment fund 31 32 RetaIned earnIngs, endowment, accumulated Income, or other funds 32 33 Total net assets or fund balances 12,248 33 14,771 2 34 Total IabI ItIes and net assets/fund balances 12,243 34 14.771 Form 990 (2016) Form 990 (2016) Reconcilliation of Net Assets Page 12 Check If Schedule 0 contaIns a response or note to any lIne In thIs Part XI El omummthI-n 10 Total revenue (must equal Part column (A), lIne 12) 1 183,005 Total expenses (must equal Part IX, column (A), lIne 25) 2 188,213 Revenue less expenses Subtract Me 2 from lIne 1 3 -5,208 Net assets or fund balances at begInnIng of year (must equal Part X, lIne 33, column 4 12,248 Net unrealized gaIns (losses) on Investments 5 Donated serVIces and use of faCIlItIes 6 Investment expenses 7 PrIor perIod adjustments 8 7,731 Other changes In net assets or fund balances (explaIn In Schedule 0) 9 Net assets or fund balances at end of year CombIne lInes 3 through 9 (must equal Part X, lIne 33, column 10 14,771 Financial Statements and Reporting Check If Schedule 0 contaIns a response or note to any lIne In thIs Part XII 2a 3a AccountIng method used to prepare the Form 990 l:l Cash Accrual l:l Other If the organIzatIon changed Its method of accountmg from a prIor year or checked "Other," explaIn In Schedule 0 Were the organIzatIon?s fInanCIal statements comleed or reVIewed by an Independent accountant? If ?Yes,? check a box below to IndIcate whether the fInanCIal statements for the year were complied or reVIewed on a separate ba5Is, consolIdated ba5Is, or both l:l Separate ba5Is l:l ConsolIdated ba5Is l:l Both consolldated and separate ba5Is Were the organIzatIon?s fInanCIal statements audIted by an Independent accountant? If ?Yes,? check a box below to IndIcate whether the fInanCIal statements for the year were audIted on a separate ba5Is, consolldated ba5Is, or both l:l Separate ba5Is l:l ConsolIdated ba5Is l:l Both consolldated and separate ba5Is If "Yes," to lIne 2a or 2b, does the organIzatIon have a commIttee that assumes for overSIght of the audIt, reVIew, or compIIatIon of Its fInanCIal statements and selectIon of an Independent accountant? If the organIzatIon changed eIther Its overSIght process or selectIon process durIng the tax year, explaIn In Schedule 0 As a result of a federal award, was the organIzatIon reqUIred to undergo an audIt or audIts as set forth In the SIngle AudIt Act and OMB CIrcular If "Yes," dId the organIzatIon undergo the reqUIred audIt or audIts? If the organIzatIon dId not undergo the reqUIred audIt or audIts, explaIn why In Schedule 0 and descrIbe any steps taken to undergo such audIts Yes Form 990 (2016) Additional Data Software ID: 16000371 Software Version: EIN: 54-1899539 Name: AMERICAN FRIENDS OF THE INSTITUTE OF ECONOMIC AFFAIRS Form 990 (2016) Form 990, Part Line 4a: AFIEA ENGAGES IN AND PROMOTES RESEARCH AND ANALYSIS OF ISSUES OF ECONOMICS AND SOCIETY, IN ORDER TO IMPROVE THE PUBLIC UNDERSTANDING OF THE ROLE OF MARKETS IN SOLVING PUBLIC POLICY PROBLEMS Iefile GRAPHIC print - DO NOT PROCESS As Filed Data - DLN: 93493282010467 OMB No 1545-0047 SCHEDULE A Public Charity Status and Public Support (Form 990 01' Complete if the organization is a section 501(c)(3) organization or a section 2 0 1 6 990EZ) 4947(a)(1) nonexempt charitable trust. Attach to Form 990 or Form 990-EZ. ot?tlie Tremun Information about Schedule A (Form 990 or 990-EZ) and its instructions is at Open to Pp\ inn":- Kpr? In?: InSPECtlon Name of the organization AMERICAN FRIENDS OF THE INSTITUTE OF ECONOMIC AFFAIRS Employer identification number 54-1899539 Reason for Public Charity Status (All organizations must complete this part.) See instructions. The organization is not a private foundation because it is (For lines 1 through 12, check only one box 1 A church, convention of churches, or assooation of churches described in section A school described in section (Attach Schedule (Form 990 or 2 3 A hospital or a cooperative hospital serVIce organization described in section 4 A medical research organization operated in conjunction With a hospital described in section Enter the hospital's name, City, and state An organization operated for the benefit of a college or univerSIty owned or operated by a governmental unit described in section 170 (Complete Part II) A federal, state, or local government or governmental unit described in section An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section (Complete Part II A community trust described in section 170(b)(1)(A)(vi) (Complete Part II An agricultural research organization described in 170(b)(1)(A)(ix) operated in conjunction With a land-grant college or univerSIty or a non-land grant college of agriculture See instructions Enter the name, City, and state of the college or univerSIty 10 An organization that normally receives (1) more than 331/3% of its support from contributions, membership fees, and gross receipts from actIVIties related to its exempt functions?subject to certain exceptions, and (2) no more than 331/3% of its support from gross investment income and unrelated busmess taxable income (less section 511 tax) from busmesses achIred by the organization after June 30, 1975 See section 509(a)(2). (Complete Part 11 An organization organized and operated excluswely to test for public safety See section 509(a)(4). 12 An organization organized and operated excluswely for the benefit of, to perform the functions of, or to carry out the purposes of one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2). See section 509(a)(3). Check the box in lines 12a through 12d that describes the type of supporting organization and complete lines 12e, 12f, and 129 Type I. A supporting organization operated, superVIsed, or controlled by its supported organization(s), typically by giVing the supported organization(s) the power to regularly appomt or elect a majority of the directors or trustees of the supporting organization You must complete Part IV, Sections A and B. Type II. A supporting organization superVIsed or controlled in connection With its supported organization(s), by havmg control or management of the supporting organization vested in the same persons that control or manage the supported organization(s) You must complete Part IV, Sections A and C. Type functionally integrated. A supporting organization operated in connection With, and functionally integrated With, its supported organization(s) (see instructions) You must complete Part IV, Sections A, D, and E. Type non-functionally integrated. A supporting organization operated in connection With its supported organization(s) that is not functionally integrated The organization generally must satisfy a distribution reqUIrement and an attentiveness reqUIrement (see instructions) You must complete Part IV, Sections A and D, and Part V. Check this box if the organization received a written determination from the IRS that it is a Type I, Type II, Type functionally integrated, or Type non-functionally integrated supporting organization Enter the number of supported organizations 9 Prowde the followmg information about the supported organization(s) (i)Name of supported organization Type of (iv) (vi) organization Is the organization listed in Amount of Amount of other (described on lines your governing document? monetary support support (see 1- 10 above (see (see instructions) instructions) instructions)) Yes No Total For Paperwork Reduction Act Notice, see the Instructions for Cat No 11285F Schedule A (Form 990 or 990-EZ) 2016 Form 990 or 990-EZ. Schedule A (Form 990 or 990-EZ) 2016 Page 2 In. Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (Complete only if you checked the box on line 5, 7, 8, or 9 of Part I or if the organization failed to qualify under Part If the organization fails to qualify under the tests listed below, please complete Part Section A. Public Support Calendar year (or fiscal year beginning in) (3)2012 (b)2013 (c)2014 (d)2015 (e)2016 (f)Tota 1 Gifts, grants, contributions, and membership fees received (Do not include any "unusual grant 75,100 112,941 60,338 163,731 188,000 600,110 2 Tax revenues leVIed for the organization's benefit and either paid to or expended on its behalf 3 The value of serVIces or faCIlities furnished by a governmental unit to the organization Without charge 4 Total. Add lines 1 through 3 75,100 112,941 60,338 163,731 188,000 600,110 5 The portion of total contributions by each person (other than a governmental unit or publicly supported organization) included on line 1 that exceeds 2% of the amount shown on line 11, column 269,992 6 Public support. Subtract line 5 from line 4 330,118 Section B. Total Support Calendar year (or fiscal year beginning in) (8)2012 (b)2013 (c)2014 (d)2015 (e)2016 (f)Tota 7 Amounts from line 4 75,100 112,941 60,338 163,731 188,000 600,110 8 Gross income from interest, diVidends, payments received on securities loans, rents, royalties and income from Similar sources 9 Net income from unrelated busmess actIVIties, whether or not the busmess is regularly carried on 10 Other income Do not include gain or loss from the sale of capital assets (Explain in Part VI) 11 Total support. Add lines 7 through 10 600,110 12 Gross receipts from related actIVItieS, etc (see instructions) l12l 13 First five years. If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here . . . . Section C. Computation of Public Support Percentage 14 Public support percentage for 2016 (line 6, column diVided by line 11, column 15 Public support percentage for 2015 Schedule A, Part II, line 14 153 33 1/30/0 support test?2016. If the organization did not check the box on line 13, and line 14 is 33 1/3% or more, check this box and stop here. The organization qualifies as a publicly supported organization 1/30/0 support test?2015. If the organization did not check a box on line 13 or 16a, and line 15 IS 33 1/3% or more, check this box and stop here. The organization qualifies as a publicly supported organization 17a 10?lo-facts-and-circumstances test?2016. If the organization did not check a box on line 13, 16a, or 16b, and line 14 is 10% or more, and if the organization meets the "facts-and-circumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-CIrcumstances" test The organization qualifies as a publicly supported organization test?2015. If the organization did not check a box on line 13, 16a, 16b, or 17a, and line 15 IS 10% or more, and if the organization meets the "facts-and-CIrcumstances" test, check this box and stop here. Explain in Part VI how the organization meets the "facts-and-CIrcumstances" test The organization qualifies as a publicly supported organization 13 Private foundation. If the organization did not check a box on line 13, 16a, 16b, 17a, or 17b, check this box and see instructions >l:l >l:l PEI Schedule A (Form 990 or 990-EZ) 2016 Schedule A (Form 990 or 990-EZ) 2016 Support Schedule for Organizations Described in Section 509(a)(2) Page 3 (Complete only if you checked the box on line 10 of Part I or if the organization failed to qualify under Part II. If the organization fails to qualify under the tests listed below, please complete Part II.) Section A. Public Support 7a 8 Calendar year (or fiscal year beginning in) Gifts, grants, contributions, and membership fees received (Do not Include any "unusual grants Gross receipts from admi55ioris, merchandise sold or serVIces performed, or faCIlities furnished in any actIVIty that is related to the organization's tax-exempt purpose Gross receipts from actIVIties that are not an unrelated trade or busmess under section 513 Tax revenues leVIed for the organization's benefit and either paid to or expended on Its behalf The value of serVIces or faCIlities furnished by a governmental unit to the organization Without charge Total. Add lines 1 through 5 Amounts included on lines 1, 2, and 3 received from disqualified persons Amounts included on lines 2 and 3 received from other than disqualified persons that exceed the greater of $5,000 or 1% of the amount on line 13 for the year Add lines 7a and 7b Public support. (Subtract line 7c from line 6 (a)2012 (b)2013 (c)2014 (d)2015 (e)2016 (f)Tota Section B. Total Support 9 10a 12 13 14 Calendar year (or fiscal year beginning in) Amounts from line 6 Gross income from interest, diVidends, payments received on securities loans, rents, royalties and income from Similar sources Unrelated busmess taxable income (less section 511 taxes) from businesses acquired after June 30, 1975 Add lines 10a and 10b Net income from unrelated busmess actIVIties not included in line 10b, whether or not the business is regularly carried on Other income Do not include gain or loss from the sale of capital assets (Explain in Part VI Total support. (Add lines 9, 10c, 11, and 12 (a)2012 (b)2013 (c)2014 (d)2015 (e)2016 (f)Tota First five years. If the Form 990 IS for the organization's first, second, third, fourth, or fifth tax year as a section 501(c)(3) organization, check this box and stop here Section C. Computation of Public Support Percentage 15 16 Public support percentage for 2016 (line 8, column diVided by line 13, column Public support percentage from 2015 Schedule A, Part line 15 15 0 0/o 16 Section D. Computation of Investment Income Percentage 17 18 Investment income percentage for 2016 (line 10c, column lelded by line 13, column Investment income percentage from 2015 Schedule A, Part line 17 17 0 18 19a 331/3?/o support tests?2016. If the organization did not check the box on line 14, and line 15 IS more than 33 and line 17 IS not more than 33 check this box and stop here. The organization qualifies as a publicly supported organization r-E] 33 1/3% support tests?2015. If the organization did not check a box on line 14 or line 19a, and line 16 is more than 33 1/3% and line 18 is 20 not more than 33 check this box and stop here. The organization qualifies as a publicly supported organization Private foundation. If the organization did not check a box on line 14, 19a, or 19b, check this box and see instructions Schedule A (Form 990 or 990-EZ) 2016 Schedule A (Form 990 or 990-EZ) 2016 Supporting Organizations (Complete only if you checked a box on line 12 of Part I If you checked 12a of Part I, complete Sections A and If you checked 12b of Part I, complete Sections A and If you checked 12c of Part I, complete Sections A, D, and If you checked 12d of Part I, complete Page 4 Sections A and D, and complete Part V) Section A. All Supporting Organizations the organization's supported organizations listed by name in the organization's governing documents? If ?No, describe in Part VI how the supported organizations are deSIgnated If deSIgnated by class or purpose, describe the desrgnation If historic and continUing relationship, explain Did the organization have any supported organization that does not have an IRS determination of status under section 509 1) or If "Yes, explain in Part VI how the organization determined that the supported organization was described in section 509(a)(1) or (2) Did the organization have a supported organization described in section 501(c)(4), (5), or If ?Yes," answer and below 3a Did the organization confirm that each supported organization qualified under section 501(c)(4), (5), or (6) and satisfied the public support tests under section 509(a)(2)7 If ?Yes, describe in Part VI when and how the organization made the determination 3b Did the organization ensure that all support to such organizations was used excluswely for section 170(c)(2)(B) purposes? If ?Yes, explain in Part VI what controls the organization put in place to ensure such use 3c Was any supported organization not organized in the United States ("foreign supported organization")? If "Yes? and if you checked 12a or 12b in Part I, answer and below Did the organization have ultimate control and discretion in deCIding whether to make grants to the foreign supported organization? If "Yes,? describe in Part VI how the organization had such control and discretion despite being controlled or superwsed by or in connection With its supported organizations 4b Did the organization support any foreign supported organization that does not have an IRS determination under sections 501(c)(3) and 509(a)(1) or (2)7 If "Yes,? explain in Part VI what controls the organization used to ensure that all support to the foreign supported organization was used excluswely for section 1 purposes 4c Did the organization add, substitute, or remove any supported organizations during the tax year? If "Yes, answer and below (if applicable) Also, prowde detail in Part VI, including the names and EIN numbers of the supported organizations added, substituted, or removed, (ii) the reasons for each such action, the authority under the organization '5 organiZing document authorizmg such action, and (iv) how the action was accomplished (such as by 5a amendment to the organizmg document) Type I or Type 11 only. Was any added or substituted supported organization part of a class already deSIgnated in the organization?s organizmg document? 5b Substitutions only. Was the substitution the result of an event beyond the organization's control? 5c Did the organization prowde support (whether in the form of grants or the prowsion of serVIces or faCIlities) to anyone other than its supported organizations, (ii) that are part of the charitable class benefited by one or more of its supported organizations, or other supporting organizations that also support or benefit one or more of the filing organization?s supported organizations? If "Yes,?prowde detail in Part VI. Did the organization prowde a grant, loan, compensation, or other Similar payment to a substantial contributor (defined in section a family member of a substantial contributor, or a 35% controlled entity With regard to a substantial contributor? If ?Yes,? complete Part I of Schedule (Form 990 or 990-EZ) Did the organization make a loan to a disqualified person (as defined in section 4958) not described in line 77 If "Yes,? complete Part I of Schedule (Form 990 or 990-EZ) Was the organization controlled directly or indirectly at any time during the tax year by one or more disqualified persons as defined in section 4946 (other than foundation managers and organizations described in section 509(a)(1) or If ?Yes,? prowde detail in Part VI. 9a Did one or more disqualified persons (as defined in line 9a) hold a controlling interest in any entity in which the supporting organization had an interest? If "Yes,?prowde detail in Part VI. 9b Did a disqualified person (as defined in line 9a) have an ownership interest in, or derive any personal benefit from, assets in which the supporting organization also had an interest? If ?Yes, ?prowde detail in Part VI. 9c Was the organization subject to the excess bu5iness holdings rules of section 4943 because of section 4943(f) (regarding certain Type II supporting organizations, and all Type non-functionally integrated supporting organizations)? If "Yes,? answer line 10b below 10a Did the organization have any excess busmess holdings in the tax year? (Use Schedule C, Form 4720, to determine whether the organization had excess busmess holdings) 10b Schedule A (Form 990 or 990-EZ) 2016 Schedule A (Form 990 or 990-EZ) 2016 Supporting Organizations (continued) Page 5 11 a Has the organization accepted a gift or contribution from any of the followmg persons? A person who directly or indirectly controls, either alone or together With persons described In and below, the governing body of a supported organization? A family member of a person described In above? A 35% controlled entity of a person described In or above? If "Yes? to a, b, or c, prowde detail In Part VI Yes 11a 11b 11c Section B. Type I Supporting Organizations Did the directors, trustees, or membership of one or more supported organizations have the power to regularly appomt or elect at least a majority of the organization's directors or trustees at all times during the tax year? If "No, describe in Part VI how the supported organization(s) effectively operated, superwsed, or controlled the organization ?5 actiVities If the organization had more than one supported organization, describe how the powers to appomt and/or remove directors or trustees were allocated among the supported organizations and what conditions or restrictions, if any, applied to such powers during the tax year Did the organization operate for the benefit of any supported organization other than the supported organization(s) that operated, superVIsed, or controlled the supporting organization? If ?Yes, explain In Part VI how prowding such benefit carried out the purposes of the supported organization(s) that operated, superwsed or controlled the supporting organization Yes Section C. Type II Supporting Organizations 1 Were a majority of the organization's directors or trustees during the tax year also a majority of the directors or trustees of each of the organization?s supported organization(s)? If "No, describe in Part VI how control or management of the supporting organization was vested In the same persons that controlled or managed the supported organization(s) Yes Section D. All Type Supporting Organizations Did the organization prOVIde to each of its supported organizations, by the last day of the fifth month of the organization?s tax year, (I) a written notice describing the type and amount of support prowded during the prior tax year, (II) a copy of the Form 990 that was most recently filed as of the date of notification, and copies of the organization?s governing documents in effect on the date of notification, to the extent not preVIously prowded? Were any of the organization?s officers, directors, or trustees either appomted or elected by the supported organization (5) or (ii) serVIng on the governing body of a supported organization? If explain in Part VI how the organization maintained a close and continuous working relationship With the supported organization(s) By reason of the relationship described in (2), did the organization's supported organizations have a Significant v0ice In the organization?s Investment po ICIes and In directing the use of the organization?s Income or assets at all times during the tax year? If ?Yes, describe In Part VI the role the organization?s supported organizations played in this regard Yes 1 Section E. Type Functionally-Integrated Supporting Organizations Check the box next to the method that the organization used to satisfy the Integral Part Test during the year (see instructions) a: 0' The organization satisfied the ActIVIties Test Complete line 2 below CI The organization is the parent of each of its supported organizations Complete line 3 below The organization supported a governmental entity Describe in Part VI how you supported a government entity (see Instructions) ActIVIties Test Answer and below. Yes Did substantially all of the organization?s actIVItIes during the tax year directly further the exempt purposes of the supported organization(s) to which the organization was responSIve7 If ?Yes," then in Part VI identify those supported organizations and explain how these actIVIties directly furthered their exempt purposes, how the organization was respon5ive to those supported organizations, and how the organization determined that these actiVities constituted substantially all of its actIVities Did the actIVItIes described In constitute actIVIties that, but for the organization's involvement, one or more of the organization?s supported organization(s) would have been engaged in? If ?Yes," explain in Part VI the reasons for the organization ?s pOSition that its supported organization(s) would have engaged in these actiwties but for the organization ?s involvement Parent of Supported Organizations Answer and below. Did the organization have the power to regularly appomt or elect a majority of the officers, directors, or trustees of each of the supported organizations? Prowde details in Part VI. Did the organization exerCIse a substantial degree of direction over the programs and actIVItIes of each of its supported organizations? If ?Yes, describe in Part VI. the role played by the organization in this regard 2a 2b 3a 3b Schedule A (Form 990 or 990-EZ) 2016 Schedule A (Form 990 or 990-EZ) 2016 Type Non-Functionally Integrated 509(a)(3) Supporting Organizations Page 6 1 Check here if the organization satisfied the Integral Part Test as a qualifying trust on Nov 20, 1970 See instructions. All other Type non-functionally Integrated supporting organizations must complete Sections A through mthNI-l \l Section A - Adjusted Net Income Net short-term capital gain Recoveries of prior-year distributions Other gross income (see instructions) Add lines 1 through 3 DepreCIation and depletion Portion of operating expenses paid or incurred for production or collection of gross income or for management, conservation, or maintenance of property held for production of income (see instructions) Other expenses (see instructions) Adjusted Net Income (subtract lines 5, 6 and 7 from line 4) (A) Prior Year (B) Current Year (optional) \l Section - Minimum Asset Amount Aggregate fair market value of all non-exempt-use assets (see instructions for short tax year or assets held for part of year) Average value of securities Average cash balances Fair market value of other non-exempt-use assets Total (add lines la, lb, and 1c) Discount claimed for blockage or other factors (explain in detail in Part VI) AchISItion indebtedness applicable to non-exempt use assets Subtract line 2 from line 1d Cash deemed held for exempt use Enter 1-1/2% of line 3 (for greater amount, see instructions) Net value of non-exempt-use assets (subtract line 4 from line 3) Multiply line 5 by 035 Recoveries of prior-year distributions Minimum Asset Amount (add line 7 to line 6) (A) Prior Year (B) Current Year (optional) 1a 1b 1c 1d acumen-h mW-hWNl-l \l Section - Distributable Amount Adjusted net income for prior year (from Section A, line 8, Column A) Enter 85% of line 1 Minimum asset amount for prior year (from Section B, line 8, Column A) Enter greater of line 2 or line 3 Income tax imposed in prior year Distributable Amount. Subtract line 5 from line 4, unless subject to emergency temporary reduction (see instructions) Current Year Check here if the current year is the organization?s first as a non-functionally-integrated Type supporting organization (see instructions) Schedule A (Form 990 or 990-EZ) 2016 Schedule A (Form 990 or 990-EZ) 2016 Page 7 Type Non-Functionally Integrated 509(a)(3) Supporting Organizations (continued) Section - Distributions Current Year 1 Amounts paid to supported organizations to accomplish exempt purposes 9 10 Amounts paid to perform actIVIty that directly furthers exempt purposes of supported organizations, in excess of income from actIVIty Administrative expenses paid to accomplish exempt purposes of supported organizations Amounts paid to achIre exempt-use assets Qualified set-a5ide amounts (prior IRS approval reqUIred) Other distributions (describe in Part VI) See instructions Total annual distributions. Add lines 1 through 6 Distributions to attentive supported organizations to which the organization is respon5ive (prowde details in Part VI) See instructions Distributable amount for 2016 from Section C, line 6 Line 8 amount diVided by Line 9 amount Section - Distribution Allocations (see DistribiBtable InStTUCtlons) Excess Pre-2016 Amount for 2016 1 Distributable amount for 2016 from Section C, line 6 2 Underdistributions, if any, for years prior to 2016 (reasonable cause reqUIred--see instructions) 3 Excess distributions carryover, if any, to 2016 From 2013. a From 2014. From 2015. Total of lines 3a through 9 Applied to underdistributions of prior years Applied to 2016 distributable amount Carryover from 2011 not applied (see instructions) Remainder Subtract lines 39, 3h, and 3i from 3f 4 Distributions for 2016 from Section D, line 7 a Applied to underdistributions of prior years Applied to 2016 distributable amount Remainder Subtract lines 4a and 4b from 4 5 Remaining underdistributions for years prior to 2016, if any Subtract lines 39 and 4a from line 2 (if amount greater than zero, see instructions) Remaining underdistributions for 2016 Subtract lines 3h and 4b from line 1 (if amount greater than zero, see instructions) Excess distributions carryover to 2017. Add lines 3] and 4c Breakdown of line 7 Excess from 2013. 0 Excess from 2014. D. Excess from 2015. Excess from 2016. Schedule A (Form 990 or 990-EZ) (2016) Schedule A (Form 990 or 990-EZ) 2016 Supplemental Information. Prowde the explanations reqUIred by Part II, line 10; Part II, line 17a or 17b; Part line 12; Part IV, Section A, lines 9a, 9b, 9c, 11a, 11b, and 11c; Part IV, Section B, lines 1 and 2; Part IV, Section C, line 1; Part IV, Section D, lines 2 and 3; Part IV, Section E, lines 2a, 2b, 3a and 3b; Part V, line 1; Part V, Section B, line 1e; Part Section D, lines 5, 6, and 8; and Part V, Section E, lines 2, 5, and 6. Also complete this part for any additional information. (See instructions). Page 8 Facts And Circumstances Test Crl-nnrluln A [Emu?m non nl? 101R Iefile GRAPHIC print - DO NOT PROCESS As Filed Data - DLN: 93493282010467 . . . . . OMB 1545-0047 (SFit'n?gg'af Statement of ActIVIties Out5ide the United States Complete if the organization answered "Yes" to Form 990, 2 0 1 6 Part IV, line 14b, 15, or 16. Attach to Form 990. See separate instructions. Open to Public Department the Treasun Information about Schedule (Form 990) and its Instructions is at Inspection Internal Rex enue Sen Ice Name of the organization Employer identification number AMERICAN FRIENDS OF THE INSTITUTE OF ECONOMIC AFFAIRS 54-1899539 General Information on Activities Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 14b. 1 For grantmakers.Does the organization maintain records to substantiate the amount of its grants and other a55istance, the grantees? eligibility for the grants or a55istance, and the selection criteria used to award the grants or a55istance7 El Yes El No 2 For grantmakers. Describe in Part the organization?s procedures for monitoring the use of its grants and other a55istance outSIde the United States 3 Actiwtes per Region (The followmg Part I, line 3 table can be duplicated if additional space IS needed Region Number of Number of ActiVities conducted in If actiVity listed in is a Total expenditures offices in the employees, agents, region (by type) (e program serVIce, describe for and investments region and independent fundraismg, program speCIfic type of in region contractors in serVIces, investments, grants serVIce(s) in region region to reCIpients located in the regionSub-total Total from continuation sheets to Part I Totals (add lines 3a and 3b) For Paperwork Reduction Act Notice, see the Instructions for Form 990. Cat No 50082W Schedule (Form 990) 2016 Schedule (Form 990) 2016 Page 2 Grants and Other Assistance to Organizations or Entities Outside the United States. Complete if the organization answered ?Yes" to Form 990, Part IV, line 15, for any moment who received more than $5,000. Part II can be duplicated if additional space IS needed. 1 Name of IRS code Region Purpose of Amount of Manner of (9) Amount Description Method of organization section grant cash grant cash of non-cash of non-cash valuation and EIN (if disbursement a55istance a55istance (book, FMV, applicable) appraisal, other) 1) Europe ECONOMIC EDUCATION 2) 3) (4) 2 Enter total number of moment organizations listed above that are recognized as charities by the foreign country, recognized as tax- exempt by the IRS, or for which the grantee or counsel has prowded a section 501(c)(3) equwalency letter . 3 Enter total number of other organizations or entities . Schedule {Form 990) 2016 Schedule (Form 990) 2016 Page 3 Grants and Other Assistance to Individuals Outside the United States. Complete if the organization answered "Yes" to Form 990, Part IV, line 16. Part can be duplicated if additional space is needed. Type of grant or a55istance Region Number of moments Amount of cash grant Manner of cash disbursement Amount of non-cash a55istance (9) Description of non-cash aSSIstance Method of valuation (book, FMV, appraisal, other) (1) (3) (4) (5) (7) (8) (9) 10) (11) (12) (13) 14) (15) (15) (17) 13) Schedule (Form 990) 2016 Schedule (Form 990) 2016 Foreign Forms 1 Was the organization a transferor of property to a foreign corporation during the tax year? If "Yes,?the organization may be reqUired to file Form 926, Return by a Transferor of Property to a Foreign Corporation (see Instructions for Form 926) Yes Did the organization have an interest in a foreign trust during the tax year? If ?Yes," the organization may be reqUired to separately file Form 3520, Annual Return to Report Transactions With Foreign Trusts and Receipt of Certain Foreign Gifts, and/or Form 3520-A, Annual Information Return of Foreign Trust With a 5 Owner (see Instructions for Forms 3520 and 3520-A) l:l Yes Did the organization have an ownership interest in a foreign corporation during the tax year? If "Yes," the organization may be reqUired to file Form 5471, Information Return of 5 Persons With Respect to Certain Foreign Corporations (see Instructions for Form 5471 l:l Yes Was the organization a direct or indirect shareholder of a passwe foreign investment company or a qualified electing fund during the tax year? If "Yes,? the organization may be required to file Form 8621, Information Return by a Shareholder of a Passwe Foreign Investment Company or Qualified Electing Fund (see Instructions for Form 8621) Yes Did the organization have an ownership interest in a foreign partnership during the tax year? If "Yes," the organization may be reqUirecl to file Form 8865, Return of 5 Persons With Respect to Certain Foreign Partnerships (see Instructions for Form 8865) l:l Yes Did the organization have any operations in or related to any boycotting countries during the tax year? If "Yes," the organization may be reqUirecl to separately file Form 5713, International Boycott Report (see Instructions for Form 5713) Yes Page 4 .No .No .No .No .No .No Schedule (Form 990) 2016 Additional Data Software ID: 16000371 Software Version: EIN: 54-1899539 Name: AMERICAN FRIENDS OF THE INSTITUTE OF ECONOMIC AFFAIRS Schedule (Form 990) 2016 Page 5 Supplemental Information Prowde the information reqwred by Part I, line 2 (monitoring of funds); Part I, line 3, column (accounting method; amounts of investments vs. expenditures per region); Part II, line 1 (accounting method); Part (accounting method); and Part column (estimated number of moments), as applicable. Also complete this part to prowde any additional Information (see Instructions). Iefile GRAPHIC print - DO NOT PROCESS As Filed Data - SCHEDULE 0 (Form 990 or 990- El) Department of the Trensun 1 Attach to Form 990 or 990-EZ. Supplemental Information to Form 990 or 990-EZ Complete to provide information for responses to specific questions on 2 0 1 6 Form 990 or 990-EZ or to provide any additional information. OMB No 1545-0047 Information about Schedule 0 (Form 990 or 990-EZ) and its instructions is at Open ?30 PUbliC Inspection r'r'fe? 6r tHe'orglanIzatIon AMERICAN FRIENDS OF THE INSTITUTE OF ECONOMIC AFFAIRS 990 Schedule 0, Supplemental Information Employer identification number 54-1899539 Return Explanatlon Reference Pt VI, LIne A DRAFT COPY IS PROVIDED TO THE BOARD UPON THE RESOLUTION OF ALL QUESTIONS AND CONCERNS THE 990 11b IS SIGNED AND FILED WITH THE IRS 990 Schedule 0, Supplemental Information Return Explanation Reference Pt VI. Llne 19 THE ORGANIZATION MAKES REQUIRED INFORMATION AVAILABLE UPON WRITTEN REQUEST IN ACCORDANCE WITH IRS REGULATIONS 990 Schedule 0, Supplemental Information Return Reference Explanation Pt VI, LIne 83 THE ORGANIZATION DOES NOT DOCUMENT MEETINGS HELD BY THE GOVERNING BODY 990 Schedule 0, Supplemental Information Return Explanation Reference Pt VI. Llne 8b THE ORGANIZATION DOES NOT DOCUMENT MEETINGS HELD BY COMMITTEES WITH AUTHORITY TO ACT ON BEHALF OF THE GOVERNING BODY Iefile GRAPHIC print - DO NOT PROCESS As Filed Data - DLN: 93493282010467I . . . OMB No 1545-0047 SCHEDULE Related Organizations and Unrelated Partnerships (Form 990) Complete if the organization answered "Yes" on Form 990, Part IV, line 33, 34, 35bDepartmeni 0mm Tremun Attach to Form 990. Information about Schedule (Form 990) and its instructions is at W. Open to Public Internal Re\ enue Senior: Ins I ection Name of the organization Employer identification number AMERICAN FRIENDS OF THE INSTITUTE OF ECONOMIC AFFAIRS 54-1899539 Identification of Disregarded Entities Complete if the organization answered "Yes" on Form 990, Part IV, line 33. a (C) Name, address, and EIN (if applicable) of disregarded entity Primary actiVity Legal domICIle (state Total income End-of-year assets Direct controlling or foreign country) entity Identification of Related Tax-Exempt Organizations Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related tax-exempt organizations during the tax year. a (C) (f (9) Name, address, and EIN of related organization Primary actIVIty Legal domICIle (state Exempt Code section Public charity status Direct controlling Section 512(b) or foreign country) (if section 501(c)(3)) entity (l3) controlled entity? Yes No ECONOMIC RESEARCH ECONOMIC EDUCATION VA 1201 STREET NW SECOND FLOOR WASHINGTON, DC 20005 94-2763845 For Paperwork Reduction Act Notice, see the Instructions for Form 990. Cat No 50135Y Schedule (Form 990) 2016 Schedule (Form 990) 2016 Page 2 Identification of Related Organizations Taxable as a Partnership Complete if the organization answered ?Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a partnership during the tax year. Name, address, and EIN of related organization Primary actIVIty (C) Legal domICIle (state or foreign country) Direct controlling entity Predominant income(related, unrelated, excluded from tax under sections 512- 514) Share of total Income (9) Share of end?of?year assets (I) Disproprtionate Code General or Percentage allocations? amount in box managing ownership 20 of partner? Schedule K-1 (Form 1065) Yes No Yes No Identification of Related Organizations Taxable as a Corporation or Trust Complete if the organization answered "Yes" on Form 990, Part IV, line 34 because it had one or more related organizations treated as a corporation or trust during the tax year. Name, address, and EIN of related organization Primary actIVIty (sta (C) Legal domICIle te or foreign country) entity Direct controlling (E) Type of entity (C corp, corp, or trust) Share of total income 9 Share of end-of- year assets Percentage ownership (I) Section 512(b) (13) controlled entity7 Yes No Schedule (Form 990) 2016 Schedule (Form 990) 2016 Page 3 Transactions With Related Organizations Complete If the organization answered "Yes" on Form 990, Part IV, lIne 34, 35b, or 36. Note. Complete MM 1 If any entIty Is lIsted In Parts II, or IV of thIs schedule Yes N0 1 DurIng the tax year, dId the orgranIzatIon engage In any of the followmg transactIons WIth one or more related organIzatIons lIsted In Parts II-IV7 Recelpt of Interest, (ii)annUItIes, royaltIes, or(iv) rent from a controlled entIty . 13 N0 GIft, grant, or capItal contrIbutIon to related organIzatIon(s) . 1'3 N0 GIft, grant, or capItal contrIbutIon from related organIzatIon(s) . 1C N0 Loans or loan guarantees to or for related organIzatIon(s) 1d N0 Loans or loan guarantees by related organIzatIon(s) 1e N0 DIVIdends from related organIzatIon(s) 1f N0 9 Sale of assets to related organIzatIon(s) . 19 N0 Purchase of assets from related organIzatIon(s) . 1h N0 i Exchange of assets WIth related organIzatIon(s) . 1i N0 Lease of eqUIpment, or other assets to related organIzatIon(s) 1i N0 Lease of eqUIpment, or other assets from related organIzatIon(s) . 1k N0 Performance of serVIces or membershIp or fundraISIng soIICItatIons for related organIzatIon(s) 1' N0 Performance of serVIces or membershIp or fundralsmg solICItatIons by related organIzatIon(s) 1m N0 SharIng of eqUIpment, Ists, or other assets WIth related organIzatIon(s) . 1n Yes 0 SharIng of paId employees WIth related organIzatIon(s) . 10 Yes ReImbursement pad to related organIzatIon(s) for expenses . 1p No ReImbursement paId by related organIzatIon(s) for expenses . N0 Other transfer of cash or property to related organIzatIon(s) . 1r No 5 Other transfer of cash or property from related organIzatIon(s) . 15 N0 If the answer to any of the above Is "Yes," see the InstructIons for InformatIon on who must complete thIs lIne, IncludIng covered relatIonshIps and transactIon thresholds Name of related organIzatIon Transactlon type (C) Amou nt Involved Method of determInIng amount Involved Schedule (Form 990) 2016 Schedule (Form 990) 2016 Page 4 Unrelated Organizations Taxable as a Partnership Complete if the organization answered ?Yes" on Form 990, Part IV, line 37. Prowde the followmg Information for each entity taxed as a partnership through which the organization conducted more than five percent of its actIVIties (measured by total assets or gross revenue) that was not a related organization See instructions regarding exclu5ion for certain investment partnerships a Name, address, and EIN of entity Primary actiwty (C) Legal domICIle (state or foreign country) Predominant income (related, unrelated, excluded from tax under sections 512- 514) (8) Are all partners section 501(c)(3) organizations? Yes No Share of total income (9) hare of end?of?year assets Disproprtionate allocations? Yes No (I) Code amount in box of Schedule K-l (Form 1065) (R) General or Percentage managing ownership partner? Yes No Schedule (Form 990) 2016 Schedule (Form 990) 2016 Page 5 Supplemental Information Prowde additional Information for responses to questions on Schedule (see instructions) Return Reference Explanation Schedule (Form 990) 2016