2024-10-03T09:25:23-05:00 2023-12-31 HAN GROUP LLC 1020 19TH STREET NW SUITE 800 WASHINGTON DC 20036 990 2023-01-01 237108453 THE SILVER INSTITUTE INC SILV 2028350185 1400 I STREET NW 550 WASHINGTON DC 20005 MICHAEL DIRIENZO PRESIDENT AND CEO 2028350185 2024-10-03 1 1 JENNIFER S HAN P00633304 2022937000 2024-10-03 2023 2024-10-15 13:58:12Z MICHAEL DIRIENZO 1400 I STREET NW 550 WASHINGTON DC 20005 1444778 0 X WWW.SILVERINSTITUTE.ORG X 1971 NY THE SILVER INSTITUTE'S PURPOSE IS THAT OF PROMOTING THE WELFARE OF THE SILVER INDUSTRY. 23 23 0 27 0 0 0 0 1269939 1444487 127 291 0 0 1270066 1444778 0 0 0 0 0 0 0 0 0 1231875 1226731 1231875 1226731 38191 218047 297313 515361 0 0 297313 515361 X THE SILVER INSTITUTE'S MISSION STATEMENT IS THAT OF PROMOTING THE WELFARE OF THE SILVER INDUSTRY BY INCREASING THE KNOWLEDGE OF AND DEMAND FOR SILVER PRODUCTS ACROSS ALL END USERS, AND TO ENCOURAGE THE DEVELOPMENT AND DEMAND AND USES FOR SILVER AND ITS PRODUCTS. THE SILVER INSTITUTE HAD 21 MEMBERS AS OF YEAR-END 2023. 0 0 THE SILVER INSTITUTE'S GENERAL PROGRAMS PROVIDE SEVERAL SERVICES BENEFITING THE GLOBAL SILVER INDUSTRY, INCLUDING INCREASING AWARENESS AND EDUCATION ABOUT SILVER THROUGH THE SILVER INSTITUTE'S WEBSITE, THE ISSUANCE OF PRESS RELEASES, MAINTAINING AN ACTIVE SOCIAL MEDIA PROGRAM, AND RELEASING A BIMONTHLY NEWSLETTER THAT HIGHLIGHTS TRENDS IN THE SILVER MARKETPLACE. WE ALSO PRODUCE A PODCAST, "TALKING SILVER, AND COORDINATE WEBINARS ON SUBJECTS IMPORTANT TO THE SILVER INDUSTRY THAT ARE PROMOTED GLOBALLY. WE RETAIN THE SERVICES OF A TECHNICAL DIRECTOR TO MONITOR AND REPORT ON GLOBAL TECHNICAL DEVELOPMENTS THAT AFFECT SILVER CONSUMPTION. THE SILVER INSTITUTE RELEASES THE ANNUAL WORLD SILVER SURVEY TO BRING TIMELY AND RELIABLE SILVER SUPPLY AND DEMAND TO OUR MEMBERS, MARKET PARTICIPANTS, ANALYSTS AND THE GENERAL PUBLIC. THE BREADTH OF THE SILVER INDUSTRY READS WORLD SILVER SURVEY, AND THE PUBLICATION REMAINS THE MOST WIDELY REFERENCED AND QUOTED ANNUAL REPORT ON THE SILVER MARKET. THE SILVER INSTITUTE HAS MARKET DEVELOPMENT PROGRAMS IN MEXICO, PERU, INDIA, AND CHINA. THE INSTITUTE PERIODICALLY ISSUES MARKET TREND REPORTS ON VARIOUS ASPECTS OF SILVER DEMAND. THESE ARE BRIEF REPORTS ON DIFFERENT TOPICS RELATED TO THE SILVER MARKET AND AUTHORED BY EXPERTS IN THEIR RESPECTIVE FIELDS. ADDITIONALLY, THE INSTITUTE'S EXECUTIVE DIRECTOR OFTEN ATTENDS AND SPEAKS AT GLOBAL PRECIOUS METALS CONFERENCES AND APPEARS IN THE MEDIA DISCUSSING THE MAIN COMPONENTS OF THE SILVER MARKET. 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 2 0 1 0 0 0 0 0 0 0 0 0 X 23 23 0 1 0 0 1 1 0 1 1 0 0 0 0 0 0 1 0 0 X MICHAEL DIRIENZO 2028350185 1400 I STREET NW SUITE 550 WASHINGTON DC 20005 X PHILLIPS BAKER JR VP (UNTIL 06/23); CHAIR (AS OF 06/23) 0.25 X X 0 0 0 IGNACIO BUSTAMANTE PRESIDENT (UNTIL 06/23) 0.25 X X 0 0 0 MICHAEL DIRIENZO EDSEC UNTIL 06/23); PRES/CEO (AS OF 06/23) 30.00 X X 0 0 0 DALE ANDRES DIRECTOR 0.25 X 0 0 0 PATRICK DROUIN DIRECTOR 0.25 X 0 0 0 RUI FENG DIRECTOR (UNTIL 9/23) 0.25 X 0 0 0 TERRY HANLON DIRECTOR 0.25 X 0 0 0 PAUL HEALEY DIRECTOR 0.25 X 0 0 0 EDUARDO LANDIN DIRECTOR 0.25 X 0 0 0 PAUL KAULESAR DIRECTOR 0.25 X 0 0 0 BEN VAN KERKWIJK DIRECTOR 0.25 X 0 0 0 SHAWN KHUNKHUN DIRECTOR 0.25 X 0 0 0 MICHAEL KONNERT DIRECTOR 0.25 X 0 0 0 HITOSHI KOSAI DIRECTOR 0.25 X 0 0 0 MITCHELL KREBS DIRECTOR 0.25 X 0 0 0 DAVID MADGE DIRECTOR 0.25 X 0 0 0 MICHAEL MESARIC DIRECTOR 0.25 X 0 0 0 ALBERTO MORALES DIRECTOR 0.25 X 0 0 0 OCTAVIO ALVIDREZ ORTEGA DIRECTOR 0.25 X 0 0 0 GEORGE PASPALAS DIRECTOR 0.25 X 0 0 0 RAFAEL REBOLLAR DIRECTOR 0.25 X 0 0 0 LON SHAVER DIRECTOR 0.25 X 0 0 0 MICHAEL STEINMANN DIRECTOR 0.25 X 0 0 0 DAVID WOLFIN DIRECTOR 0.25 X 0 0 0 JASON XU DIRECTOR 0.25 X 0 0 0 CALROS QUIROGA TREASURER 0.25 X 0 0 0 JEFFREY MELODY ASSISTANT TREASURER 0.25 X 0 0 0 0 0 0 0 0 0 0 KSG LLC 1400 I STREET NW WASHINGTON DC 20005 MANAGEMENT FEE 523000 METALS FOCUS LTD 6 FL ABBEY HOUSE 74/76 ST JOHN ST LONDON EN RESEARCH 333000 2 MEMBERSHIP DUES 900099 1220092 1220092 WORLD SILVER SURV. REV 900099 224395 224395 1444487 291 291 1444778 1444487 0 291 X 13642 123544 141609 27928 23209 61200 WORLD SILVER SURVEY 387448 MEDIA/GENERAL PUB. REL. 344522 PUBLICATIONS 103629 1226731 270420 134337 26893 381024 297313 515361 0 0 X 297313 515361 297313 515361 297313 515361 218047 1 0 X X 0 1 X 1 0 0 1 0 0 X 1444778 0 1444778 0 1444778 1226731 0 1226731 0 1226731 PART X, LINE 2: THE INSTITUTE FOLLOWS THE AUTHORITATIVE GUIDANCE RELATING TO ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES INCLUDED IN ACCOUNTING STANDARDS CODIFICATION TOPIC 740-10, INCOME TAXES. THESE PROVISIONS PROVIDE CONSISTENT GUIDANCE FOR THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND PRESCRIBE A THRESHOLD OF "MORE LIKELY THAN NOT" FOR RECOGNITION AND DERECOGNITION OF TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. IT IS THE INSTITUTE'S POLICY TO RECOGNIZE INTEREST AND/OR PENALTIES RELATED TO UNCERTAIN TAX POSITIONS, IF ANY, IN INCOME TAX EXPENSES. THE INSTITUTE PERFORMED AN EVALUATION OF UNCERTAIN TAX POSITIONS FOR THE YEAR ENDED DECEMBER 31, 2023 AND DETERMINED THAT THERE WERE NO MATTERS THAT WOULD REQUIRE RECOGNITION IN THE FINANCIAL STATEMENTS OR THAT MAY HAVE ANY EFFECT ON ITS TAX-EXEMPT STATUS. THE STATUTE OF LIMITATIONS GENERALLY REMAINS OPEN FOR THREE TAX YEARS WITH THE U.S. FEDERAL JURISDICTION OR THE VARIOUS STATES AND LOCAL JURISDICTIONS IN WHICH THE INSTITUTE FILES TAX RETURNS. NORTH AMERICA 0 0 PROGRAM SERVICES INCREASING AWARENESS AND EDUCATION OF THE SILVER INDUSTRY 20000 SOUTH AMERICA 0 0 PROGRAM SERVICES INCREASING AWARENESS AND EDUCATION OF THE SILVER INDUSTRY 20000 EAST ASIA AND THE PACIFIC 0 0 PROGRAM SERVICES CONFERENCES 14830 SOUTH ASIA 0 0 PROGRAM SERVICES EVENTS 46184 0 0 0 0 0 0 101014 0 101014 0 0 0 0 0 0 PART I, LINE 3: IN ACCORDANCE WITH IRS INSTRUCTIONS, ALL AMOUNTS REPORTED IN PART I OF SCHEDULE F ARE REPORTED USING THE ACCRUAL BASIS OF ACCOUNTING, WHICH IS THE SAME METHOD OF ACCOUNTING USED IN THE FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION A, LINE 3 KSG, LLC PROVIDES ASSOCIATION MANAGEMENT SERVICES IN CONNECTION WITH THE IMPLEMENTATION AND ADMINISTRATION OF THE SILVER INSTITUTE. FORM 990, PART VI, SECTION A, LINE 6 THE SILVER INSTITUTE DRAWS ITS MEMBERSHIP FROM ACROSS THE BREADTH OF THE SILVER INDUSTRY. THIS INCLUDES LEADING SILVER MINING HOUSES, REFINERS, BULLION SUPPLIERS, MANUFACTURERS OF SILVER PRODUCTS AND WHOLESALERS OF SILVER INVESTMENT PRODUCTS. FORM 990, PART VI, SECTION A, LINE 7A THERE IS ONE CLASS OF MEMBERSHIP. EACH MEMBER IN GOOD STANDING IS ENTITLED TO ONE VOTE ON ANY AND ALL MATTERS WHICH SHALL PROPERLY COME BEFORE A MEETING OF THE MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN ACCOUNTING FIRM AND A DRAFT OF THE FORM IS REVIEWED BY MANAGEMENT. THE DRAFT IS THEN DISTRIBUTED BY E-MAIL TO THE SILVER INSTITUTE'S FULL BOARD OF DIRECTORS FOR THEIR REVIEW AND THEN FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 15A THE SILVER INSTITUTE DOES NOT HAVE ANY EMPLOYEES. THE INSTITUTE IS MANAGED UNDER CONTRACT BY KSG, LLC. THE SILVER INSTITUTE PRESIDENT & CEO IS AN OFFICER AND IS PAID BY KSG, LLC. THE MANAGEMENT FEE IS DETERMINED ANNUALLY BY THE INSTITUTE'S EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION STRUCTURE OF THE SILVER INSTITUTE IS DESCRIBED ON ITS WEB SITE. FINANCIAL STATEMENTS AND DETAILED GOVERNING DOCUMENTS ARE AVAILABLE UPON WRITTEN REQUEST. THE FORM 990 IS AVAILABLE UPON REQUEST AND IS AVAILABLE FROM THE GUIDESTAR WEB SITE. FORM 990, PART IX, LINE 11G TECHNICAL MONITORING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 54,900. TOTAL EXPENSES 54,900. CONSULTING FEES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 68,644. TOTAL EXPENSES 68,644. FORM 990, PART XII, LINE 2C: THE PROCESS HAS NOT CHNAGED FROM THE PRIOR YEAR. THE TREASURER REVIEWED THE AUDITED REPORT AND ARPROVED IT.