2024-04-26T10:31:41-05:00 2023-06-30 111986323 MARCUM LLP 1899 L STREET NW SUITE 850 WASHINGTON DC 20036 990 2022-07-01 521226967 PETER G PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS PETE 2023289000 1750 MASSACHUSETTS AVE NW WASHINGTON DC 200361903 ADAM POSEN PRESIDENT 2023289000 2024-04-25 1 ADAM POSEN XXX-XX-XXXX 1 FRANK H SMITH P00639053 2022274000 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z ADAM POSEN 1750 MASSACHUSETTS AVE NW WASHINGTON DC 200361903 23932089 0 X WWW.PIIE.COM X 1981 DC SUPPORT RIGOROUS, INTELLECTUALLY OPEN, HONEST STUDY AND DISCUSSION OF INT'L ECONOMIC POLICY. 45 45 52 46 -79219 0 9874587 8878083 0 0 1151227 1954003 22517 36191 11048331 10868277 0 0 0 0 7942539 8666373 72430 78285 844821 4328682 5168295 12343651 13912953 -1295320 -3044676 95222142 95398380 3212166 2356295 92009976 93042085 X THE PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS (PIIE) IS AN INDEPENDENT NONPROFIT, NONPARTISAN RESEARCH ORGANIZATION DEDICATED TO STRENGTHENING PROSPERITY AND HUMAN WELFARE IN THE GLOBAL ECONOMY THROUGH EXPERT ANALYSIS AND PRACTICAL POLICY SOLUTIONS. 0 0 6087645 RESEARCH: THE INSTITUTE'S STAFF OF ABOUT 15 SENIOR FULL-TIME RESEARCHERS, 36 NONRESIDENT, PART-TIME OR EMERITUS FELLOWS, 2 RESEARCH FELLOWS, AND 6 RESEARCH ANALYSTS PURSUED OBJECTIVE ANALYSIS AND PRACTICAL ADVICE ON SUCH TOPICS AS INTERNATIONAL TRADE AND INVESTMENTS, INTERNATIONAL FINANCE AND EXCHANGE RATES, MACROECONOMIC POLICY AND CRISIS RESPONSE, GLOBALIZATION AND HUMAN WELFARE, CLIMATE CHANGE, CYBERSECURITY, SANCTIONS, ECONOMIC NATIONALISM, GLOBAL SUPPLY CHAINS, INTERNATIONAL TAX POLICIES, INFLATION, FISCAL POLICY, CRITICAL MINERALS, SECULAR STAGNATION, PUBLIC DEBT, THE DEBT CEILING; AND ECONOMIC RAMIFICATIONS OF INTERNATIONAL CONFLICTS; AND AREA STUDIES OF KEY ECONOMIC REGIONS, INCLUDING CHINA, THE UNITED KINGDOM, INDIA, JAPAN, KOREA, RUSSIA, THE EUROPEAN UNION, LATIN AMERICA, AND THE MIDDLE EAST, AS WELL AS THE UNITED STATES-MEXICO-CANADA TRADING BLOC. CURRENT PRIORITIES EMPHASIZE GLOBAL SUPPLY CHAINS AND MULTINATIONAL INVESTMENTS, PARTICULARLY RELATED TO BECOMING INDEPENDENT OF CHINA; THE ECONOMIC IMPLICATIONS OF CLIMATE CHANGE; THE GROWING ROLE OF CHINA AND US-CHINA RELATIONS; MACROECONOMIC POLICIES, GLOBALIZATION, INEQUALITY, AND UNEMPLOYMENT; THE THREAT OF GLOBAL FINANCIAL AND ECONOMIC CRISES AND ESPECIALLY ITS BANKING AND MONETARY COMPONENTS; ECONOMIC NATIONALISM; NATIONAL AND INTERNATIONAL FINANCIAL AND TAX REGULATIONS; TRADE NEGOTIATIONS AND THE WORLD TRADE ORGANIZATION; TECHNOLOGY ADVANCES; POTENTIAL RAMIFICATIONS OF THE 2024 ELECTION; AND REFORMING THE INTERNATIONAL MONETARY SYSTEM. 2434484 OUTREACH: THE INSTITUTE, DRAWING ON ITS INDEPENDENCE, RESEARCH, AND CONVENING POWER, HELD A TOTAL OF 75 VIRTUAL AND HYBRID ON-THE-RECORD MEETINGS, WHICH WERE STREAMED LIVE TO THE PUBLIC AND OPEN TO SELECT IN-PERSON ATTENDEES. THIS COUNT INCLUDES TWO SERIES EVENTS HOSTED VIRTUALLY, TRADE WINDS AND FINANCIAL STATEMENTS, WHICH HAD 12 AND 21 EPISODES, RESPECTIVELY, WHICH COVERED A VARIETY OF TOPICS INCLUDING THE WTO, THE WAR IN UKRAINE, AND THE ONGOING COVID-19 PANDEMIC, AS WELL AS A HYBRID MACRO WEEK EVENT SERIES, INCLUDING SEVEN DIFFERENT SPEAKERS. THE INSTITUTE ALSO HELD 28 PRIVATE OFF-THE-RECORD POLICY DISCUSSIONS ON THE POLITICAL ECONOMY, INCLUDING SOME "HYBRID" SESSIONS WITH IN-PERSON AND VIRTUAL PARTICIPATION AND A RECURRING JOINT EVENT WITH CF40, AN INDEPENDENT CHINESE THINK TANK. THE INSTITUTE ALSO HELD TWICE WEEKLY HYBRID RESEARCH SEMINARS AND STUDY GROUPS THROUGHOUT THE YEAR TO DISCUSS PRESENTATIONS BY INTERNAL AND EXTERNAL RESEARCHERS. THE AUDIENCES FOR THESE EVENTS INCLUDED ACADEMICS, BUSINESS LEADERS, US AND FOREIGN GOVERNMENT OFFICIALS, OFFICIALS AT INTERNATIONAL ORGANIZATIONS, CONGRESSIONAL STAFFS, ADVOCACY GROUPS, POLICY INSTITUTE EXPERTS, JOURNALISTS, AND POLICYMAKERS, AS WELL AS SUPPORTERS AND FRIENDS OF THE INSTITUTE. THE PURPOSE OF THESE SESSIONS WAS TO INFORM A BROAD RANGE OF INTERESTED PARTIES AND ENCOURAGE VIGOROUS DEBATE AND EXCHANGE OF DIFFERENT POINTS OF VIEWS TO ENRICH THE BROADER POPULATION'S UNDERSTANDING OF COMPLEX ISSUES. 944389 29347 PUBLICATIONS: IN AN EFFORT TO DISSEMINATE THE INSTITUTE'S RESEARCH AND ANALYSIS TO THE WIDEST POSSIBLE AUDIENCE, IT PUBLISHED 20 POLICY BRIEFS, 15 WORKING PAPERS, 93 BLOG POSTS, 34 PIIE CHARTS, AND 25 PODCASTS. IN ADDITION, INSTITUTE SCHOLARS PROVIDED EXPERT TESTIMONY TO THE MEMBERS AND STAFF OF THE EUROPEAN PARLIAMENT; THE EUROPEAN PARLIAMENT'S COMMITTEE ON FOREIGN AFFAIRS; THE STEERING GROUP OF THE PARLIAMENTARY CONFERENCE ON THE WTO; AND THE US SENATE COMMITTEE ON THE BUDGET. THEY PRODUCED 72 OP-EDS AND 25 SPEECHES AND PAPERS AND OFFERED THEIR VIEWS IN THE FORM OF BLOGS AND IN AUDIO AND VIDEO INTERVIEWS FEATURED ON THE INSTITUTE'S WEBSITE. SENIOR FELLOWS APPEARED ON ALL THE MAJOR BROADCAST OUTLETS, INCLUDING ABC, BBC, BLOOMBERG TV, CBS, CNN, CNBC, NBC, NPR AND IN PUBLICATIONS AND WIRE SERVICES INCLUDING BLOOMBERG NEWS, THE ECONOMIST, FINANCIAL TIMES, NEW YORK TIMES, POLITICO, REUTERS, WASHINGTON POST, AND WALL STREET JOURNAL. THE INSTITUTE HOSTED BRIEFINGS FOR JOURNALISTS, DID EXTENSIVE SOCIAL MEDIA (MORE THAN 89,000 TWITTER FOLLOWERS AS OF JUNE 30, 2023) AND DREW MORE THAN 4 MILLION UNIQUE VISITORS TO THE INSTITUTE'S WEBSITE DURING THE YEAR. 780743 COMMUNICATIONS - THE INSTITUTE CREATES AUDIOVISUAL MATERIALS, INTERACTIVE GRAPHICS, EMAIL NEWSLETTERS, EDUCATIONAL MATERIALS, AND SOCIAL MEDIA CONTENT TO DEEPEN THE PUBLIC'S AND POLICYMAKERS' UNDERSTANDING OF THE INTERNATIONAL ECONOMIC ISSUES DISCUSSED. 780743 10247261 1 1 0 0 0 0 0 0 0 1 1 1 0 0 0 1 0 1 0 0 1 0 0 1 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 1 27 0 1 52 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 45 45 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 CA IL MA MI NY X GIFA MAHIFERE 2023289000 1750 MASSACHUSETTS AVE NW WASHINGTON DC 200361903 MR MICHAEL A PETERSON CHAIR OF THE BOARD 5.00 X 0 0 0 HONORABLE LAWRENCE H SUMMERS VICE CHAIR OF THE BOARD 2.00 X 0 0 0 MR STEPHEN FREIDHEIM CHAIR OF EXEC. COMM. 2.00 X 0 0 0 MS CAROLINE ATKINSON BOARD MEMBER 1.00 X 0 0 0 MR AJAY BANGA BOARD MEMBER - UNTIL 05/23 1.00 X 0 0 0 C FRED BERGSTEN BOARD MEMBER 1.00 X 0 0 0 MR MARK T BERTOLINI BOARD MEMBER 1.00 X 0 0 0 MS NEETI BHALLA JOHNSON BOARD MEMBER 1.00 X 0 0 0 MR FRANK BROSENS BOARD MEMBER 1.00 X 0 0 0 MR MARK CARNEY BOARD MEMBER 1.00 X 0 0 0 MR RONNIE C CHAN BOARD MEMBER - UNTIL 02/23 1.00 X 0 0 0 MR JASON CUMMINS BOARD MEMBER 1.00 X 0 0 0 LADY LYNN DE ROTHSCHILD BOARD MEMBER 1.00 X 0 0 0 MR BARRY EICHENGREEN BOARD MEMBER 1.00 X 0 0 0 ROGER W FERGUSON JR BOARD MEMBER 1.00 X 0 0 0 MR STANLEY FISCHER BOARD MEMBER - UNTIL 04/23 1.00 X 0 0 0 MR PETER FISHER BOARD MEMBER 1.00 X 0 0 0 DR JACOB A FRENKEL BOARD MEMBER 1.00 X 0 0 0 MR YUKITOSHI FUNO BOARD MEMBER 1.00 X 0 0 0 MS ESTHER L GEORGE BOARD MEMBER 1.00 X 0 0 0 MR EVAN G GREENBERG BOARD MEMBER 1.00 X 0 0 0 MR MAURICE HANK R GREENBERG BOARD MEMBER 1.00 X 0 0 0 MS KELLY GRIER BOARD MEMBER 1.00 X 0 0 0 MR HERBJORN HANSSON BOARD MEMBER 1.00 X 0 0 0 MR J TOMILSON HILL BOARD MEMBER 1.00 X 0 0 0 MR STEPHEN R HOWE JR BOARD MEMBER 1.00 X 0 0 0 MR JAY JACOBS BOARD MEMBER 1.00 X 0 0 0 MS MERIT E JANOW BOARD MEMBER 1.00 X 0 0 0 MR HUGH JOHNSTON BOARD MEMBER 1.00 X 0 0 0 MR MICHAEL KLEIN BOARD MEMBER 1.00 X 0 0 0 MR CHARLES LAKE II BOARD MEMBER 1.00 X 0 0 0 MR DAVID M LEUSCHEN BOARD MEMBER 1.00 X 0 0 0 MR ANDREW LIVERIS BOARD MEMBER - UNTIL 05/23 1.00 X 0 0 0 MS BARBARA G NOVICK BOARD MEMBER 1.00 X 0 0 0 MR TETSUO TED OGAWA BOARD MEMBER 1.00 X 0 0 0 MS HUTHAM OLAYAN BOARD MEMBER 1.00 X 0 0 0 DR PETER ORSZAG BOARD MEMBER 1.00 X 0 0 0 MR JAMES W OWENS BOARD MEMBER 1.00 X 0 0 0 MR JONATHAN PRUZAN BOARD MEMBER 1.00 X 0 0 0 MS VIRGINIA M ROMETTY BOARD MEMBER 1.00 X 0 0 0 MR RICHARD E SALOMON BOARD MEMBER 1.00 X 0 0 0 DILHAN PILLAY SANDRASEGARA BOARD MEMBER 1.00 X 0 0 0 MR MOSTAFA TERRAB BOARD MEMBER 1.00 X 0 0 0 MR MARK TUCKER BOARD MEMBER 1.00 X 0 0 0 MS LAURA D TYSON BOARD MEMBER 1.00 X 0 0 0 MR JIM UMPLEBY BOARD MEMBER 1.00 X 0 0 0 MR RONALD A WILLIAMS BOARD MEMBER 1.00 X 0 0 0 MR MIN ZHU BOARD MEMBER 1.00 X 0 0 0 HONORABLE ROBERT B ZOELLICK BOARD MEMBER 1.00 X 0 0 0 ADAM POSEN PRESIDENT 40.00 X 551670 0 54112 JESSE M NOLAND EXEC. VP & DIRECTOR OF STUDIES 40.00 X 456038 0 52044 JEFFREY A CORDEAU VP FOR OPERATIONS & CTO 40.00 X 213132 0 45036 STEVEN R WEISMAN VP OF PUBLICATIONS & COMM. 40.00 X 233347 0 26140 CHAD BOWN SENIOR FELLOW 40.00 X 350825 0 57827 MARY LOVELY SENIOR FELLOW 40.00 X 305066 0 43811 JEFFREY J SCHOTT SENIOR FELLOW 40.00 X 278415 0 57542 OLIVIER BLANCHARD SENIOR FELLOW 40.00 X 297205 0 35091 MONICA BAUMGARTEN DEBOLLE SENIOR FELLOW 40.00 X 275655 0 28805 2961353 0 400408 9 0 1 0 JFK CONSULT LC CHEMIN DU VELLEMOLEN 4 WOLUWESAINTLAMBERT BE 1200 CONTRACT RESEARCH 184483 REFINITIV US LLC PO BOX 415983 BOSTON MA 02241 SUBSCRIPTION 151860 P&R ENTERPRISES INC 5681 COLUMBIA PIKE FALLS CHURCH VA 22041 CONTRACT SERVICES 145421 FORUM ONE 6140 S GUN ROAD K6-153 AURORA CO 80016 ADVERTISING 120265 MAURICE OBSTFELD 523 SPRUCE STREET BERKELEY CA 94707 CONTRACT RESEARCH 116476 7 8878083 8878083 1762333 -79219 1841552 13255482 13063812 191670 191670 191670 29347 0 29347 29347 MISCELLANEOUS 900099 6844 6844 6844 10868277 29347 -79219 2040066 1631035 1070363 489078 71594 5605876 4607448 597017 401411 460942 356808 71592 32542 525088 229094 195383 100611 443432 284640 129541 29251 106095 106095 116032 116032 78285 78285 384427 384427 602638 167007 343633 91998 72412 71943 469 136926 80242 56366 318 356053 245752 105534 4767 656912 565372 87341 4199 555196 522432 9689 23075 282401 208910 70502 2989 470372 423195 43995 3182 88538 79649 8290 599 CONTRACT RESEARCH 1026425 1026425 SUBSCR. & LIBRARY EXP. 313868 307981 5887 13912953 10247261 2820871 844821 8191838 5301532 3537681 3842385 1142658 2082000 8315 12972 13793 13793 99334 111519 19085104 9735840 9700500 9349264 11187888 6812573 58923530 65455737 2416605 2416605 95222142 95398380 1286929 1473707 382588 882588 1539739 0 2910 0 3212166 2356295 X 33528211 35171307 58481765 57870778 92009976 93042085 95222142 95398380 -3044676 4076785 0 X 0 1 X 1 0 X 17579571 13830973 8105153 9874587 8878083 58268367 17579571 13830973 8105153 9874587 8878083 58268367 19992060 38276307 959052 799377 2334533 306217 1841552 6240731 0 0 83982 34618 0 118600 148 6844 6992 64634690 115279 0.59220 0.54100 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 55652121 1000000 4039805 2465707 58226219 60760449 2500000 -5352627 2255701 55652121 50258901 200 12401340 1899992 60760449 42558394 7990953 1378415 1668861 50258901 36062269 6000000 2239994 1743869 42558394 0.06177 0.75664 0.18160 0 0 2830800 2830800 14185974 7816316 6369658 1308558 1172459 136099 759772 747065 12707 9349264 HEDGE FUNDS 18449493 F MULTI-STRATEGY 2924724 F PRIVATE EQUITY 30909205 F INTERNATIONAL EQUITY 10277431 F DOMESTIC EQUITY 2894884 F 65455737 X 14581456 4076785 20821 4097606 10483850 384427 384427 10868277 13549347 20821 20821 13528526 384427 384427 13912953 PART V, LINE 4: THE INSTITUTE'S ENDOWMENT CONSISTS OF FUNDS ESTABLISHED TO SUPPORT THE SALARY AND RESEARCH COSTS OF SENIOR FELLOWS AND OTHER INITIATIVES AND INCLUDES BOTH DONOR-RESTRICTED ENDOWMENT FUNDS AND FUNDS DESIGNATED BY THE BOARD OF DIRECTORS TO FUNCTION AS ENDOWMENTS. THE ENDOWMENT IS THE CORE SOURCE OF OPERATIONAL FUNDS, INDEPENDENT FROM AND NOT RELIANT UPON EXTERNAL REVENUE SOURCES. ACCORDINGLY, THE SPENDING AND INVESTMENT POLICIES ARE DESIGNED IN TANDEM TO EARN AND PROVIDE SUSTAINABLE AND RELIABLE AMOUNTS ANNUALLY TO SUPPORT THE INSTITUTE'S PROGRAMS. PART X, LINE 2: THE INSTITUTE EVALUATED ITS UNCERTAINTY IN INCOME TAXES FOR THE YEARS ENDED JUNE 30, 2023 AND 2022, 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. CENTRAL AMERICA AND THE CARIBBEAN 0 0 INVESTMENTS 44688433 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 INVESTMENTS 572345 0 0 0 0 0 0 45260778 0 45260778 1 0 0 0 1 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. PART III ACCOUNTING METHOD: X X X X X X 1 THE HELEN BROWN GROUP 489 MT AUBURN STREET SUITE 4 WATERTOWN MA 02472 CONSULTING 0 0 78285 -78285 78285 -78285 CA IL MA MI NY DC X X X X 0 0 0 0 0 0 0 0 0 ADAM POSEN PRESIDENT 551670 0 0 0 0 0 30500 0 23612 0 605782 0 0 0 JESSE M NOLAND EXEC. VP & DIRECTOR OF STUDIES 456038 0 0 0 0 0 30500 0 21544 0 508082 0 0 0 CHAD BOWN SENIOR FELLOW 350825 0 0 0 0 0 30500 0 27327 0 408652 0 0 0 MARY LOVELY SENIOR FELLOW 305066 0 0 0 0 0 30203 0 13608 0 348877 0 0 0 JEFFREY J SCHOTT SENIOR FELLOW 278415 0 0 0 0 0 27781 0 29761 0 335957 0 0 0 OLIVIER BLANCHARD SENIOR FELLOW 297205 0 0 0 0 0 29124 0 5967 0 332296 0 0 0 MONICA BAUMGARTEN DEBOLLE SENIOR FELLOW 275655 0 0 0 0 0 27428 0 1377 0 304460 0 0 0 STEVEN R WEISMAN VP OF PUBLICATIONS & COMM. 233347 0 0 0 0 0 23335 0 2805 0 259487 0 0 0 JEFFREY A CORDEAU VP FOR OPERATIONS & CTO 213132 0 0 0 0 0 21394 0 23642 0 258168 0 0 0 FORM 990, PART VI, SECTION A, LINE 1A THE BOARD HAS DELEGATED BROAD AUTHORITIES TO ACT ON BEHALF OF THE GOVERNING BODY TO AN EXECUTIVE COMMITTEE COMPRISED OF SELECTED BOARD MEMBERS. THE EXECUTIVE COMMITTEE MAY EXERCISE THE FULL AUTHORITY OF THE BOARD BETWEEN MEETINGS OF THE BOARD WHEN PROMPT ACTION IS NECESSARY AND ACTION BY THE FULL BOARD IS IMPRACTICABLE OR AS DELEGATED BY THE BOARD, EXCEPT THAT THE EXECUTIVE COMMITTEE SHALL NOT HAVE THE POWER TO APPROVE A DISSOLUTION OR MERGER, OR THE SALE OF ALL OR SUBSTANTIALLY ALL OF THE INSTITUTE'S ASSETS; APPOINT OR REMOVE DIRECTORS; APPOINT OR REMOVE COMMITTEE MEMBERS; AUTHORIZE DISTRIBUTIONS; OR AMEND THE ARTICLES OF INCORPORATION OR THE BYLAWS. FORM 990, PART VI, SECTION A, LINE 2 EVAN G. GREENBERG, A BOARD MEMBER, IS THE SON OF MAURICE (HANK) R. GREENBERG, ALSO A BOARD MEMBER. FORM 990, PART VI, SECTION B, LINE 11B THE PRESIDENT AND TREASURER THOROUGHLY REVIEW THE FEDERAL FORM 990, WHICH IS THEN PRESENTED TO THE AUDIT COMMITTEE, THE EXECUTIVE COMMITTEE, AND THE BOARD OF DIRECTORS BEFORE FILING WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES MUST DISCLOSE AN ACTUAL OR PERCEIVED CONFLICT OF INTEREST TO HUMAN RESOURCES AND/OR THE PRESIDENT BEFORE ENGAGING IN THE CONFLICTING ACTIVITY, OR AS SOON AS AN EMPLOYEE BECOMES AWARE OF SUCH CONFLICT. IN ADDITION, AT THE TIME OF HIRE, AND AT LEAST ANNUALLY THEREAFTER AS REQUESTED, ALL EMPLOYEES ARE REQUIRED TO REPORT OUTSIDE INCOME OR BUSINESS RELATIONSHIPS OR OTHER POTENTIAL CONFLICTS OF INTEREST, PARTICULARLY FINANCIAL ACTIVITIES THAT MAY REFLECT ADVERSELY ON RESEARCH INDEPENDENCE. WHEN POTENTIAL CONFLICTS EXIST, THE PERSON WITH THE CONFLICT IS PROHIBITED FROM PARTICIPATING IN THE GOVERNING BODY'S DELIBERATIONS AND DECISIONS IN THE TRANSACTIONS. FORM 990, PART VI, SECTION B, LINE 15 THE INSTITUTE'S EXECUTIVE COMMITTEE ANNUALLY REVIEWS COMPENSATION FOR TOP MANAGEMENT OFFICIALS, INCLUDING THE PRESIDENT, UTILIZING COMPARABLE INDUSTRY AND ORGANIZATIONAL DATA. THE COMPENSATION REVIEW WAS PERFORMED IN APRIL 2023. FORM 990, PART VI, SECTION C, LINE 19 FINANCIAL STATEMENTS, THE CONFLICT OF INTEREST POLICY, AND GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). IIE PROPERTY ASSOCIATES LLC 1750 MASSACHUSETTS AVENUE WASHINGTON DC 20036 521226967 BUILDING MANAGEMENT MD 0 9929 PETER G PETERSON INSTITUTE FOR INTERNATIONAL ECONOMICS