﻿<?xml version="1.0" encoding="utf-8"?>
<Return xmlns="http://www.irs.gov/efile" xmlns:xsi="http://www.w3.org/2001/XMLSchema-instance" xsi:schemaLocation="http://www.irs.gov/efile" returnVersion="2025v4.1">
  <ReturnHeader binaryAttachmentCnt="0">
    <ReturnTs>2026-06-10T10:57:43-05:00</ReturnTs>
    <TaxPeriodEndDt>2025-12-31</TaxPeriodEndDt>
    <PreparerFirmGrp>
      <PreparerFirmEIN>881478669</PreparerFirmEIN>
      <PreparerFirmName>
        <BusinessNameLine1Txt>CBIZ ADVISORS LLC</BusinessNameLine1Txt>
      </PreparerFirmName>
      <PreparerUSAddress>
        <AddressLine1Txt>1899 L STREET NW 850</AddressLine1Txt>
        <CityNm>WASHINGTON</CityNm>
        <StateAbbreviationCd>DC</StateAbbreviationCd>
        <ZIPCd>20036</ZIPCd>
      </PreparerUSAddress>
    </PreparerFirmGrp>
    <ReturnTypeCd>990</ReturnTypeCd>
    <TaxPeriodBeginDt>2025-01-01</TaxPeriodBeginDt>
    <Filer>
      <EIN>230341915</EIN>
      <BusinessName>
        <BusinessNameLine1Txt>AMERICAN ACADEMY OF POLITICAL AND SOCIAL</BusinessNameLine1Txt>
        <BusinessNameLine2Txt>SCIENCE</BusinessNameLine2Txt>
      </BusinessName>
      <BusinessNameControlTxt>AMER</BusinessNameControlTxt>
      <PhoneNum>2158985081</PhoneNum>
      <USAddress>
        <AddressLine1Txt>220 SOUTH 40TH STREET 201-E</AddressLine1Txt>
        <CityNm>PHILADELPHIA</CityNm>
        <StateAbbreviationCd>PA</StateAbbreviationCd>
        <ZIPCd>19104</ZIPCd>
      </USAddress>
    </Filer>
    <BusinessOfficerGrp>
      <PersonNm>THOMAS KECSKEMETHY</PersonNm>
      <PersonTitleTxt>EXECUTIVE DIRECTOR</PersonTitleTxt>
      <PhoneNum>2158985081</PhoneNum>
      <SignatureDt>2026-06-01</SignatureDt>
      <DiscussWithPaidPreparerInd>1</DiscussWithPaidPreparerInd>
    </BusinessOfficerGrp>
    <PreparerPersonGrp>
      <PreparerPersonNm>FRANK SMITH</PreparerPersonNm>
      <PTIN>P00639053</PTIN>
      <PhoneNum>2022274000</PhoneNum>
    </PreparerPersonGrp>
    <TaxYr>2025</TaxYr>
    <BuildTS>2025-03-06 01:10:19Z</BuildTS>
  </ReturnHeader>
  <ReturnData documentCnt="6">
    <IRS990 documentId="RetDoc1038000001" referenceDocumentId="RetDoc1044400001">
      <PrincipalOfficerNm>THOMAS KECSKEMETHY</PrincipalOfficerNm>
      <USAddress>
        <AddressLine1Txt>220 SOUTH 40TH STREET SUITE 201-E</AddressLine1Txt>
        <CityNm>PHILADELPHIA</CityNm>
        <StateAbbreviationCd>PA</StateAbbreviationCd>
        <ZIPCd>19104</ZIPCd>
      </USAddress>
      <GrossReceiptsAmt>2689773</GrossReceiptsAmt>
      <GroupReturnForAffiliatesInd>0</GroupReturnForAffiliatesInd>
      <Organization501c3Ind>X</Organization501c3Ind>
      <WebsiteAddressTxt>WWW.AAPSS.ORG</WebsiteAddressTxt>
      <TypeOfOrganizationCorpInd>X</TypeOfOrganizationCorpInd>
      <FormationYr>1889</FormationYr>
      <LegalDomicileStateCd>PA</LegalDomicileStateCd>
      <ActivityOrMissionDesc>PUBLICATION OF ACADEMIC RESEARCH; SPONSORING CONFERENCES AND SYMPOSIA; RECOGNITION OF STELLAR ACCOMPLISHMENTS IN THE SOCIAL SCIENCES.</ActivityOrMissionDesc>
      <VotingMembersGoverningBodyCnt>12</VotingMembersGoverningBodyCnt>
      <VotingMembersIndependentCnt>12</VotingMembersIndependentCnt>
      <TotalEmployeeCnt>0</TotalEmployeeCnt>
      <TotalVolunteersCnt>17</TotalVolunteersCnt>
      <TotalGrossUBIAmt>0</TotalGrossUBIAmt>
      <NetUnrelatedBusTxblIncmAmt>0</NetUnrelatedBusTxblIncmAmt>
      <PYContributionsGrantsAmt>283858</PYContributionsGrantsAmt>
      <CYContributionsGrantsAmt>1702073</CYContributionsGrantsAmt>
      <PYProgramServiceRevenueAmt>450102</PYProgramServiceRevenueAmt>
      <CYProgramServiceRevenueAmt>450000</CYProgramServiceRevenueAmt>
      <PYInvestmentIncomeAmt>309652</PYInvestmentIncomeAmt>
      <CYInvestmentIncomeAmt>296450</CYInvestmentIncomeAmt>
      <PYOtherRevenueAmt>0</PYOtherRevenueAmt>
      <CYOtherRevenueAmt>0</CYOtherRevenueAmt>
      <PYTotalRevenueAmt>1043612</PYTotalRevenueAmt>
      <CYTotalRevenueAmt>2448523</CYTotalRevenueAmt>
      <PYGrantsAndSimilarPaidAmt>20000</PYGrantsAndSimilarPaidAmt>
      <CYGrantsAndSimilarPaidAmt>25000</CYGrantsAndSimilarPaidAmt>
      <PYBenefitsPaidToMembersAmt>0</PYBenefitsPaidToMembersAmt>
      <CYBenefitsPaidToMembersAmt>0</CYBenefitsPaidToMembersAmt>
      <PYSalariesCompEmpBnftPaidAmt>325272</PYSalariesCompEmpBnftPaidAmt>
      <CYSalariesCompEmpBnftPaidAmt>364401</CYSalariesCompEmpBnftPaidAmt>
      <PYTotalProfFndrsngExpnsAmt>0</PYTotalProfFndrsngExpnsAmt>
      <CYTotalProfFndrsngExpnsAmt>0</CYTotalProfFndrsngExpnsAmt>
      <CYTotalFundraisingExpenseAmt>157515</CYTotalFundraisingExpenseAmt>
      <PYOtherExpensesAmt>366616</PYOtherExpensesAmt>
      <CYOtherExpensesAmt>302942</CYOtherExpensesAmt>
      <PYTotalExpensesAmt>711888</PYTotalExpensesAmt>
      <CYTotalExpensesAmt>692343</CYTotalExpensesAmt>
      <PYRevenuesLessExpensesAmt>331724</PYRevenuesLessExpensesAmt>
      <CYRevenuesLessExpensesAmt>1756180</CYRevenuesLessExpensesAmt>
      <TotalAssetsBOYAmt>5536888</TotalAssetsBOYAmt>
      <TotalAssetsEOYAmt>8054192</TotalAssetsEOYAmt>
      <TotalLiabilitiesBOYAmt>99699</TotalLiabilitiesBOYAmt>
      <TotalLiabilitiesEOYAmt>68078</TotalLiabilitiesEOYAmt>
      <NetAssetsOrFundBalancesBOYAmt>5437189</NetAssetsOrFundBalancesBOYAmt>
      <NetAssetsOrFundBalancesEOYAmt>7986114</NetAssetsOrFundBalancesEOYAmt>
      <MissionDesc>TO DISSEMINATE SCHOLARLY RESEARCH IN BOTH PRINT AND ELECTRONIC FORMATS AND TO SPONSOR CONFERENCES, BRIEFINGS AND SYMPOSIA.</MissionDesc>
      <SignificantNewProgramSrvcInd>0</SignificantNewProgramSrvcInd>
      <SignificantChangeInd>0</SignificantChangeInd>
      <ExpenseAmt>153488</ExpenseAmt>
      <GrantAmt>25000</GrantAmt>
      <Desc>ANNUALLY, THE ACADEMY RECOGNIZES OUTSTANDING SCHOLARS IN THE SOCIAL SCIENCES AND AWARDS THE DANIEL PATRICK MOYNIHAN PRIZE TO A SCHOLAR WHO HAS MADE OUTSTANDING CONTRIBUTIONS IN THE SOCIAL SCIENCES. AS PART OF THE AWARD, THE RECIPIENT GIVES A LECTURE WHICH IS OPEN TO THE PUBLIC. THE 2025 PRIZE WAS AWARDED TO TIMOTHY DAVID SNYDER, TEMERTY CHAIR IN MODERN EUROPEAN HISTORY AT THE UNIVERSITY OF TORONTO. THE LECTURE WAS HELD IN OCTOBER OF 2025.</Desc>
      <ProgSrvcAccomActy2Grp>
        <ExpenseAmt>121063</ExpenseAmt>
        <RevenueAmt>450000</RevenueAmt>
        <Desc>THE ACADEMY PUBLISHES A BI-MONTHLY JOURNAL. IN 2025, CIRCULATION OF THE JOURNAL REACHED 10,407 PAID SUBSCRIBERS. ALSO, MANY INDIVIDUALS ACCESS ARTICLES: THERE WERE 660,172 FULL-TEXT DOWNLOADS OVER THE COURSE OF THE YEAR. ONLINE CONFERENCES AND EVENTS WERE SPONSORED TO DISCUSS TOPICS PRESENTED IN THESE VOLUMES.</Desc>
      </ProgSrvcAccomActy2Grp>
      <ProgSrvcAccomActy3Grp>
        <ExpenseAmt>87366</ExpenseAmt>
        <Desc>THE ACADEMY SPONSORS ACADEMIC SYMOPSIA AND AUTHORS CONFERENCES.</Desc>
      </ProgSrvcAccomActy3Grp>
      <TotalProgramServiceExpensesAmt>361917</TotalProgramServiceExpensesAmt>
      <DescribedInSection501c3Ind referenceDocumentId="RetDoc1039100001">1</DescribedInSection501c3Ind>
      <ScheduleBRequiredInd referenceDocumentId="RetDoc1234500001">1</ScheduleBRequiredInd>
      <PoliticalCampaignActyInd>0</PoliticalCampaignActyInd>
      <LobbyingActivitiesInd>0</LobbyingActivitiesInd>
      <SubjectToProxyTaxInd>0</SubjectToProxyTaxInd>
      <DonorAdvisedFundInd referenceDocumentId="RetDoc1040000001">0</DonorAdvisedFundInd>
      <ConservationEasementsInd referenceDocumentId="RetDoc1040000001">0</ConservationEasementsInd>
      <CollectionsOfArtInd referenceDocumentId="RetDoc1040000001">0</CollectionsOfArtInd>
      <CreditCounselingInd referenceDocumentId="RetDoc1040000001">0</CreditCounselingInd>
      <DonorRstrOrQuasiEndowmentsInd>1</DonorRstrOrQuasiEndowmentsInd>
      <ReportLandBuildingEquipmentInd referenceDocumentId="RetDoc1040000001">1</ReportLandBuildingEquipmentInd>
      <ReportInvestmentsOtherSecInd referenceDocumentId="RetDoc1040000001">0</ReportInvestmentsOtherSecInd>
      <ReportProgramRelatedInvstInd referenceDocumentId="RetDoc1040000001">0</ReportProgramRelatedInvstInd>
      <ReportOtherAssetsInd referenceDocumentId="RetDoc1040000001">0</ReportOtherAssetsInd>
      <ReportOtherLiabilitiesInd referenceDocumentId="RetDoc1040000001">1</ReportOtherLiabilitiesInd>
      <IncludeFIN48FootnoteInd referenceDocumentId="RetDoc1040000001">1</IncludeFIN48FootnoteInd>
      <IndependentAuditFinclStmtInd referenceDocumentId="RetDoc1040000001">1</IndependentAuditFinclStmtInd>
      <ConsolidatedAuditFinclStmtInd referenceDocumentId="RetDoc1040000001">0</ConsolidatedAuditFinclStmtInd>
      <SchoolOperatingInd>0</SchoolOperatingInd>
      <ForeignOfficeInd>0</ForeignOfficeInd>
      <ForeignActivitiesInd>0</ForeignActivitiesInd>
      <MoreThan5000KToOrgInd>0</MoreThan5000KToOrgInd>
      <MoreThan5000KToIndividualsInd>0</MoreThan5000KToIndividualsInd>
      <ProfessionalFundraisingInd>0</ProfessionalFundraisingInd>
      <FundraisingActivitiesInd>0</FundraisingActivitiesInd>
      <GamingActivitiesInd>0</GamingActivitiesInd>
      <OperateHospitalInd>0</OperateHospitalInd>
      <GrantsToOrganizationsInd referenceDocumentId="RetDoc1041900001">0</GrantsToOrganizationsInd>
      <GrantsToIndividualsInd referenceDocumentId="RetDoc1041900001">1</GrantsToIndividualsInd>
      <ScheduleJRequiredInd>0</ScheduleJRequiredInd>
      <TaxExemptBondsInd>0</TaxExemptBondsInd>
      <EngagedInExcessBenefitTransInd>0</EngagedInExcessBenefitTransInd>
      <PYExcessBenefitTransInd>0</PYExcessBenefitTransInd>
      <LoanOutstandingInd>0</LoanOutstandingInd>
      <GrantToRelatedPersonInd>0</GrantToRelatedPersonInd>
      <BusinessRlnWithOrgMemInd>0</BusinessRlnWithOrgMemInd>
      <BusinessRlnWithFamMemInd>0</BusinessRlnWithFamMemInd>
      <BusinessRlnWith35CtrlEntInd>0</BusinessRlnWith35CtrlEntInd>
      <DeductibleNonCashContriInd>0</DeductibleNonCashContriInd>
      <DeductibleArtContributionInd>0</DeductibleArtContributionInd>
      <TerminateOperationsInd>0</TerminateOperationsInd>
      <PartialLiquidationInd>0</PartialLiquidationInd>
      <DisregardedEntityInd>0</DisregardedEntityInd>
      <RelatedEntityInd>0</RelatedEntityInd>
      <RelatedOrganizationCtrlEntInd>0</RelatedOrganizationCtrlEntInd>
      <TrnsfrExmptNonChrtblRltdOrgInd>0</TrnsfrExmptNonChrtblRltdOrgInd>
      <ActivitiesConductedPrtshpInd>0</ActivitiesConductedPrtshpInd>
      <ScheduleORequiredInd>1</ScheduleORequiredInd>
      <IRPDocumentCnt>8</IRPDocumentCnt>
      <IRPDocumentW2GCnt>0</IRPDocumentW2GCnt>
      <BackupWthldComplianceInd>1</BackupWthldComplianceInd>
      <EmployeeCnt>0</EmployeeCnt>
      <UnrelatedBusIncmOverLimitInd>0</UnrelatedBusIncmOverLimitInd>
      <ForeignFinancialAccountInd>0</ForeignFinancialAccountInd>
      <ProhibitedTaxShelterTransInd>0</ProhibitedTaxShelterTransInd>
      <TaxablePartyNotificationInd>0</TaxablePartyNotificationInd>
      <NondeductibleContributionsInd>0</NondeductibleContributionsInd>
      <QuidProQuoContributionsInd>0</QuidProQuoContributionsInd>
      <Form8282PropertyDisposedOfInd>0</Form8282PropertyDisposedOfInd>
      <RcvFndsToPayPrsnlBnftCntrctInd>0</RcvFndsToPayPrsnlBnftCntrctInd>
      <PayPremiumsPrsnlBnftCntrctInd>0</PayPremiumsPrsnlBnftCntrctInd>
      <IndoorTanningServicesInd>0</IndoorTanningServicesInd>
      <SubjToTaxRmnrtnExPrchtPymtInd>0</SubjToTaxRmnrtnExPrchtPymtInd>
      <SubjectToExcsTaxNetInvstIncInd>0</SubjectToExcsTaxNetInvstIncInd>
      <InfoInScheduleOPartVIInd>X</InfoInScheduleOPartVIInd>
      <GoverningBodyVotingMembersCnt>12</GoverningBodyVotingMembersCnt>
      <IndependentVotingMemberCnt>12</IndependentVotingMemberCnt>
      <FamilyOrBusinessRlnInd>0</FamilyOrBusinessRlnInd>
      <DelegationOfMgmtDutiesInd>0</DelegationOfMgmtDutiesInd>
      <ChangeToOrgDocumentsInd>1</ChangeToOrgDocumentsInd>
      <MaterialDiversionOrMisuseInd>0</MaterialDiversionOrMisuseInd>
      <MembersOrStockholdersInd>0</MembersOrStockholdersInd>
      <ElectionOfBoardMembersInd>0</ElectionOfBoardMembersInd>
      <DecisionsSubjectToApprovaInd>0</DecisionsSubjectToApprovaInd>
      <MinutesOfGoverningBodyInd>1</MinutesOfGoverningBodyInd>
      <MinutesOfCommitteesInd>1</MinutesOfCommitteesInd>
      <OfficerMailingAddressInd>0</OfficerMailingAddressInd>
      <LocalChaptersInd>0</LocalChaptersInd>
      <Form990ProvidedToGvrnBodyInd>1</Form990ProvidedToGvrnBodyInd>
      <ConflictOfInterestPolicyInd>1</ConflictOfInterestPolicyInd>
      <AnnualDisclosureCoveredPrsnInd>1</AnnualDisclosureCoveredPrsnInd>
      <RegularMonitoringEnfrcInd>1</RegularMonitoringEnfrcInd>
      <WhistleblowerPolicyInd>1</WhistleblowerPolicyInd>
      <DocumentRetentionPolicyInd>1</DocumentRetentionPolicyInd>
      <CompensationProcessCEOInd>0</CompensationProcessCEOInd>
      <CompensationProcessOtherInd>0</CompensationProcessOtherInd>
      <InvestmentInJointVentureInd>0</InvestmentInJointVentureInd>
      <StatesWhereCopyOfReturnIsFldCd>PA</StatesWhereCopyOfReturnIsFldCd>
      <UponRequestInd>X</UponRequestInd>
      <BooksInCareOfDetail>
        <BusinessName>
          <BusinessNameLine1Txt>THOMAS KECSKEMETHY</BusinessNameLine1Txt>
        </BusinessName>
        <PhoneNum>2157467231</PhoneNum>
        <USAddress>
          <AddressLine1Txt>220 SOUTH 40TH STREET SUITE 201-E</AddressLine1Txt>
          <CityNm>PHILADELPHIA</CityNm>
          <StateAbbreviationCd>PA</StateAbbreviationCd>
          <ZIPCd>19104</ZIPCd>
        </USAddress>
      </BooksInCareOfDetail>
      <NoListedPersonsCompensatedInd>X</NoListedPersonsCompensatedInd>
      <Form990PartVIISectionAGrp>
        <PersonNm>MARTA TIENDA</PersonNm>
        <TitleTxt>PRESIDENT UNTIL 8/2025</TitleTxt>
        <AverageHoursPerWeekRt>3.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>SHELDON DANZIGER</PersonNm>
        <TitleTxt>PRESIDENT AS OF 9/2025</TitleTxt>
        <AverageHoursPerWeekRt>3.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>PAULA D MCCLAIN</PersonNm>
        <TitleTxt>CHAIR</TitleTxt>
        <AverageHoursPerWeekRt>1.00</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>SUZANNE METTLER</PersonNm>
        <TitleTxt>TREASURER UNTIL 6/2025</TitleTxt>
        <AverageHoursPerWeekRt>0.50</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>MARY ANN MEYERS PHD</PersonNm>
        <TitleTxt>SECRETARY</TitleTxt>
        <AverageHoursPerWeekRt>0.50</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>CAROL ANDERSON BOARD OF</PersonNm>
        <TitleTxt>DIRECTOR UNTIL 11/2025</TitleTxt>
        <AverageHoursPerWeekRt>0.50</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>LESLIE BOISSIERE BOARD OF</PersonNm>
        <TitleTxt>DIRECTOR AS OF 7/2025</TitleTxt>
        <AverageHoursPerWeekRt>0.50</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>JAMELLE BOUIE</PersonNm>
        <TitleTxt>BOARD OF DIRECTORS</TitleTxt>
        <AverageHoursPerWeekRt>0.50</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>DOMINIQUE BROSSARD BOARD OF</PersonNm>
        <TitleTxt>DIRECTOR UNTIL 6/2025</TitleTxt>
        <AverageHoursPerWeekRt>0.50</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>RODNEY HERO</PersonNm>
        <TitleTxt>BOARD OF DIRECTORS</TitleTxt>
        <AverageHoursPerWeekRt>0.50</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>SHERMAN JAMES</PersonNm>
        <TitleTxt>BOARD OF DIRECTORS</TitleTxt>
        <AverageHoursPerWeekRt>0.50</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>TAEKU LEE</PersonNm>
        <TitleTxt>BOARD OF DIRECTORS</TitleTxt>
        <AverageHoursPerWeekRt>0.50</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>DIANE SCHANZENBACH BOARD OF</PersonNm>
        <TitleTxt>DIRECTOR AS OF 7/2025</TitleTxt>
        <AverageHoursPerWeekRt>0.50</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>CLAUDE STEELE</PersonNm>
        <TitleTxt>BOARD OF DIRECTORS</TitleTxt>
        <AverageHoursPerWeekRt>0.50</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>MICHAEL STRAIN BOARD OF</PersonNm>
        <TitleTxt>DIRECTOR AS OF 7/2025</TitleTxt>
        <AverageHoursPerWeekRt>0.50</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>MARY WATERS BOARD OF</PersonNm>
        <TitleTxt>DIRECTOR UNTIL 6/2025</TitleTxt>
        <AverageHoursPerWeekRt>0.50</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>AARON KLEIN</PersonNm>
        <TitleTxt>TREASURER AS OF 6/2025</TitleTxt>
        <AverageHoursPerWeekRt>0.50</AverageHoursPerWeekRt>
        <IndividualTrusteeOrDirectorInd>X</IndividualTrusteeOrDirectorInd>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <Form990PartVIISectionAGrp>
        <PersonNm>THOMAS KECSKEMETHY</PersonNm>
        <TitleTxt>EXECUTIVE DIRECTOR</TitleTxt>
        <AverageHoursPerWeekRt>40.00</AverageHoursPerWeekRt>
        <OfficerInd>X</OfficerInd>
        <ReportableCompFromOrgAmt>0</ReportableCompFromOrgAmt>
        <ReportableCompFromRltdOrgAmt>0</ReportableCompFromRltdOrgAmt>
        <OtherCompensationAmt>0</OtherCompensationAmt>
      </Form990PartVIISectionAGrp>
      <TotalReportableCompFromOrgAmt>0</TotalReportableCompFromOrgAmt>
      <TotReportableCompRltdOrgAmt>0</TotReportableCompRltdOrgAmt>
      <TotalOtherCompensationAmt>0</TotalOtherCompensationAmt>
      <IndivRcvdGreaterThan100KCnt>0</IndivRcvdGreaterThan100KCnt>
      <FormerOfcrEmployeesListedInd>0</FormerOfcrEmployeesListedInd>
      <TotalCompGreaterThan150KInd>0</TotalCompGreaterThan150KInd>
      <CompensationFromOtherSrcsInd>0</CompensationFromOtherSrcsInd>
      <ContractorCompensationGrp>
        <ContractorName>
          <BusinessName>
            <BusinessNameLine1Txt>TRUSTEES OF THE UNIV OF PENN</BusinessNameLine1Txt>
          </BusinessName>
        </ContractorName>
        <ContractorAddress>
          <USAddress>
            <AddressLine1Txt>3620 WALNUT ST ROOM 210</AddressLine1Txt>
            <CityNm>PHILADELPHIA</CityNm>
            <StateAbbreviationCd>PA</StateAbbreviationCd>
            <ZIPCd>19104</ZIPCd>
          </USAddress>
        </ContractorAddress>
        <ServicesDesc>PERSONNEL, IT, OFFICE AND SHARED SERVICE</ServicesDesc>
        <CompensationAmt>357477</CompensationAmt>
      </ContractorCompensationGrp>
      <CntrctRcvdGreaterThan100KCnt>1</CntrctRcvdGreaterThan100KCnt>
      <AllOtherContributionsAmt>1702073</AllOtherContributionsAmt>
      <TotalContributionsAmt>1702073</TotalContributionsAmt>
      <ProgramServiceRevenueGrp>
        <Desc>PUBLISHING</Desc>
        <BusinessCd>513120</BusinessCd>
        <TotalRevenueColumnAmt>450000</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>450000</RelatedOrExemptFuncIncomeAmt>
      </ProgramServiceRevenueGrp>
      <TotalProgramServiceRevenueAmt>450000</TotalProgramServiceRevenueAmt>
      <InvestmentIncomeGrp>
        <TotalRevenueColumnAmt>296450</TotalRevenueColumnAmt>
        <ExclusionAmt>296450</ExclusionAmt>
      </InvestmentIncomeGrp>
      <GrossAmountSalesAssetsGrp>
        <OtherAmt>241250</OtherAmt>
      </GrossAmountSalesAssetsGrp>
      <LessCostOthBasisSalesExpnssGrp>
        <OtherAmt>241250</OtherAmt>
      </LessCostOthBasisSalesExpnssGrp>
      <GainOrLossGrp>
        <OtherAmt>0</OtherAmt>
      </GainOrLossGrp>
      <NetGainOrLossInvestmentsGrp>
        <TotalRevenueColumnAmt>0</TotalRevenueColumnAmt>
      </NetGainOrLossInvestmentsGrp>
      <TotalRevenueGrp>
        <TotalRevenueColumnAmt>2448523</TotalRevenueColumnAmt>
        <RelatedOrExemptFuncIncomeAmt>450000</RelatedOrExemptFuncIncomeAmt>
        <UnrelatedBusinessRevenueAmt>0</UnrelatedBusinessRevenueAmt>
        <ExclusionAmt>296450</ExclusionAmt>
      </TotalRevenueGrp>
      <InfoInScheduleOPartIXInd>X</InfoInScheduleOPartIXInd>
      <GrantsToDomesticIndividualsGrp>
        <TotalAmt>25000</TotalAmt>
        <ProgramServicesAmt>25000</ProgramServicesAmt>
      </GrantsToDomesticIndividualsGrp>
      <OtherSalariesAndWagesGrp>
        <TotalAmt>281842</TotalAmt>
        <ProgramServicesAmt>170543</ProgramServicesAmt>
        <ManagementAndGeneralAmt>53952</ManagementAndGeneralAmt>
        <FundraisingAmt>57347</FundraisingAmt>
      </OtherSalariesAndWagesGrp>
      <OtherEmployeeBenefitsGrp>
        <TotalAmt>82559</TotalAmt>
        <ProgramServicesAmt>44811</ProgramServicesAmt>
        <ManagementAndGeneralAmt>18290</ManagementAndGeneralAmt>
        <FundraisingAmt>19458</FundraisingAmt>
      </OtherEmployeeBenefitsGrp>
      <FeesForServicesLegalGrp>
        <TotalAmt>532</TotalAmt>
        <ManagementAndGeneralAmt>532</ManagementAndGeneralAmt>
      </FeesForServicesLegalGrp>
      <FeesForServicesAccountingGrp>
        <TotalAmt>47398</TotalAmt>
        <ProgramServicesAmt>25727</ProgramServicesAmt>
        <ManagementAndGeneralAmt>10500</ManagementAndGeneralAmt>
        <FundraisingAmt>11171</FundraisingAmt>
      </FeesForServicesAccountingGrp>
      <FeesForServicesOtherGrp>
        <TotalAmt>80387</TotalAmt>
        <ProgramServicesAmt>9782</ProgramServicesAmt>
        <ManagementAndGeneralAmt>8151</ManagementAndGeneralAmt>
        <FundraisingAmt>62454</FundraisingAmt>
      </FeesForServicesOtherGrp>
      <OfficeExpensesGrp>
        <TotalAmt>61079</TotalAmt>
        <ProgramServicesAmt>20531</ProgramServicesAmt>
        <ManagementAndGeneralAmt>40036</ManagementAndGeneralAmt>
        <FundraisingAmt>512</FundraisingAmt>
      </OfficeExpensesGrp>
      <OccupancyGrp>
        <TotalAmt>26160</TotalAmt>
        <ProgramServicesAmt>14199</ProgramServicesAmt>
        <ManagementAndGeneralAmt>5795</ManagementAndGeneralAmt>
        <FundraisingAmt>6166</FundraisingAmt>
      </OccupancyGrp>
      <TravelGrp>
        <TotalAmt>27432</TotalAmt>
        <ProgramServicesAmt>9561</ProgramServicesAmt>
        <ManagementAndGeneralAmt>17871</ManagementAndGeneralAmt>
      </TravelGrp>
      <ConferencesMeetingsGrp>
        <TotalAmt>40614</TotalAmt>
        <ProgramServicesAmt>36064</ProgramServicesAmt>
        <ManagementAndGeneralAmt>4550</ManagementAndGeneralAmt>
      </ConferencesMeetingsGrp>
      <DepreciationDepletionGrp>
        <TotalAmt>4801</TotalAmt>
        <ManagementAndGeneralAmt>4801</ManagementAndGeneralAmt>
      </DepreciationDepletionGrp>
      <InsuranceGrp>
        <TotalAmt>8141</TotalAmt>
        <ProgramServicesAmt>5699</ProgramServicesAmt>
        <ManagementAndGeneralAmt>2035</ManagementAndGeneralAmt>
        <FundraisingAmt>407</FundraisingAmt>
      </InsuranceGrp>
      <OtherExpensesGrp>
        <Desc>MEMBERSHIPS AND SUBSCRI</Desc>
        <TotalAmt>6398</TotalAmt>
        <ManagementAndGeneralAmt>6398</ManagementAndGeneralAmt>
      </OtherExpensesGrp>
      <TotalFunctionalExpensesGrp>
        <TotalAmt>692343</TotalAmt>
        <ProgramServicesAmt>361917</ProgramServicesAmt>
        <ManagementAndGeneralAmt>172911</ManagementAndGeneralAmt>
        <FundraisingAmt>157515</FundraisingAmt>
      </TotalFunctionalExpensesGrp>
      <CashNonInterestBearingGrp>
        <BOYAmt>1220</BOYAmt>
        <EOYAmt>0</EOYAmt>
      </CashNonInterestBearingGrp>
      <SavingsAndTempCashInvstGrp>
        <BOYAmt>372574</BOYAmt>
        <EOYAmt>403498</EOYAmt>
      </SavingsAndTempCashInvstGrp>
      <PledgesAndGrantsReceivableGrp>
        <BOYAmt>0</BOYAmt>
        <EOYAmt>535000</EOYAmt>
      </PledgesAndGrantsReceivableGrp>
      <PrepaidExpensesDefrdChargesGrp>
        <BOYAmt>4239</BOYAmt>
        <EOYAmt>3057</EOYAmt>
      </PrepaidExpensesDefrdChargesGrp>
      <LandBldgEquipCostOrOtherBssAmt>32349</LandBldgEquipCostOrOtherBssAmt>
      <LandBldgEquipAccumDeprecAmt>16129</LandBldgEquipAccumDeprecAmt>
      <LandBldgEquipBasisNetGrp>
        <BOYAmt>15535</BOYAmt>
        <EOYAmt>16220</EOYAmt>
      </LandBldgEquipBasisNetGrp>
      <InvestmentsPubTradedSecGrp>
        <BOYAmt>5090983</BOYAmt>
        <EOYAmt>7070865</EOYAmt>
      </InvestmentsPubTradedSecGrp>
      <OtherAssetsTotalGrp>
        <BOYAmt>52337</BOYAmt>
        <EOYAmt>25552</EOYAmt>
      </OtherAssetsTotalGrp>
      <TotalAssetsGrp>
        <BOYAmt>5536888</BOYAmt>
        <EOYAmt>8054192</EOYAmt>
      </TotalAssetsGrp>
      <AccountsPayableAccrExpnssGrp>
        <BOYAmt>47304</BOYAmt>
        <EOYAmt>41889</EOYAmt>
      </AccountsPayableAccrExpnssGrp>
      <OtherLiabilitiesGrp>
        <BOYAmt>52395</BOYAmt>
        <EOYAmt>26189</EOYAmt>
      </OtherLiabilitiesGrp>
      <TotalLiabilitiesGrp>
        <BOYAmt>99699</BOYAmt>
        <EOYAmt>68078</EOYAmt>
      </TotalLiabilitiesGrp>
      <OrganizationFollowsFASB117Ind>X</OrganizationFollowsFASB117Ind>
      <NoDonorRestrictionNetAssetsGrp>
        <BOYAmt>4998580</BOYAmt>
        <EOYAmt>5830490</EOYAmt>
      </NoDonorRestrictionNetAssetsGrp>
      <DonorRestrictionNetAssetsGrp>
        <BOYAmt>438609</BOYAmt>
        <EOYAmt>2155624</EOYAmt>
      </DonorRestrictionNetAssetsGrp>
      <TotalNetAssetsFundBalanceGrp>
        <BOYAmt>5437189</BOYAmt>
        <EOYAmt>7986114</EOYAmt>
      </TotalNetAssetsFundBalanceGrp>
      <TotLiabNetAssetsFundBalanceGrp>
        <BOYAmt>5536888</BOYAmt>
        <EOYAmt>8054192</EOYAmt>
      </TotLiabNetAssetsFundBalanceGrp>
      <ReconcilationRevenueExpnssAmt>1756180</ReconcilationRevenueExpnssAmt>
      <NetUnrlzdGainsLossesInvstAmt>792745</NetUnrlzdGainsLossesInvstAmt>
      <OtherChangesInNetAssetsAmt>0</OtherChangesInNetAssetsAmt>
      <InfoInScheduleOPartXIIInd>X</InfoInScheduleOPartXIIInd>
      <MethodOfAccountingAccrualInd>X</MethodOfAccountingAccrualInd>
      <AccountantCompileOrReviewInd>0</AccountantCompileOrReviewInd>
      <FSAuditedInd>1</FSAuditedInd>
      <FSAuditedBasisGrp>
        <SeparateBasisFinclStmtInd>X</SeparateBasisFinclStmtInd>
      </FSAuditedBasisGrp>
      <AuditCommitteeInd>1</AuditCommitteeInd>
      <FederalGrantAuditRequiredInd>0</FederalGrantAuditRequiredInd>
    </IRS990>
    <IRS990ScheduleA documentId="RetDoc1039100001">
      <PubliclySupportedOrg509a2Ind>X</PubliclySupportedOrg509a2Ind>
      <GiftsGrantsContrisRcvd509Grp>
        <CurrentTaxYearMinus4YearsAmt>30205</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>1300</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>56350</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>283858</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>1702073</CurrentTaxYearAmt>
        <TotalAmt>2073786</TotalAmt>
      </GiftsGrantsContrisRcvd509Grp>
      <GrossReceiptsAdmissionsGrp>
        <CurrentTaxYearMinus4YearsAmt>450031</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>450070</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>450052</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>450102</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>450000</CurrentTaxYearAmt>
        <TotalAmt>2250255</TotalAmt>
      </GrossReceiptsAdmissionsGrp>
      <Total509Grp>
        <CurrentTaxYearMinus4YearsAmt>480236</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>451370</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>506402</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>733960</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>2152073</CurrentTaxYearAmt>
        <TotalAmt>4324041</TotalAmt>
      </Total509Grp>
      <AmountsRcvdDsqlfyPersonGrp>
        <CurrentTaxYearMinus1YearAmt>250</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>4343</CurrentTaxYearAmt>
        <TotalAmt>4593</TotalAmt>
      </AmountsRcvdDsqlfyPersonGrp>
      <SubstantialContributorsAmtGrp>
        <TotalAmt>0</TotalAmt>
      </SubstantialContributorsAmtGrp>
      <SubstAndDsqlfyPrsnsTotGrp>
        <CurrentTaxYearMinus1YearAmt>250</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>4343</CurrentTaxYearAmt>
        <TotalAmt>4593</TotalAmt>
      </SubstAndDsqlfyPrsnsTotGrp>
      <PublicSupportTotal509Amt>4319448</PublicSupportTotal509Amt>
      <GrossInvestmentIncome509Grp>
        <CurrentTaxYearMinus4YearsAmt>87920</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>35410</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>140005</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>309652</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>296450</CurrentTaxYearAmt>
        <TotalAmt>869437</TotalAmt>
      </GrossInvestmentIncome509Grp>
      <InvestmentIncomeAndUBTIGrp>
        <CurrentTaxYearMinus4YearsAmt>87920</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>35410</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>140005</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>309652</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>296450</CurrentTaxYearAmt>
        <TotalAmt>869437</TotalAmt>
      </InvestmentIncomeAndUBTIGrp>
      <TotalSupportCalendarYearGrp>
        <CurrentTaxYearMinus4YearsAmt>568156</CurrentTaxYearMinus4YearsAmt>
        <CurrentTaxYearMinus3YearsAmt>486780</CurrentTaxYearMinus3YearsAmt>
        <CurrentTaxYearMinus2YearsAmt>646407</CurrentTaxYearMinus2YearsAmt>
        <CurrentTaxYearMinus1YearAmt>1043612</CurrentTaxYearMinus1YearAmt>
        <CurrentTaxYearAmt>2448523</CurrentTaxYearAmt>
        <TotalAmt>5193478</TotalAmt>
      </TotalSupportCalendarYearGrp>
      <PublicSupportCY509Pct>0.83170</PublicSupportCY509Pct>
      <PublicSupportPY509Pct>0.80400</PublicSupportPY509Pct>
      <InvestmentIncomeCYPct>0.16740</InvestmentIncomeCYPct>
      <InvestmentIncomePYPct>0.19590</InvestmentIncomePYPct>
      <ThirtyThrPctSuprtTestsCY509Ind>X</ThirtyThrPctSuprtTestsCY509Ind>
    </IRS990ScheduleA>
    <IRS990ScheduleB documentId="RetDoc1234500001">
      <ContributorInformationGrp>
        <ContributorNum>RESTRICTED</ContributorNum>
        <ContributorBusinessName>
          <BusinessNameLine1>RESTRICTED</BusinessNameLine1>
        </ContributorBusinessName>
        <ContributorUSAddress>
          <AddressLine1>RESTRICTED</AddressLine1>
          <AddressLine2>RESTRICTED</AddressLine2>
          <City>RESTRICTED</City>
          <State>RESTRICTED</State>
          <ZIPCode>RESTRICTED</ZIPCode>
        </ContributorUSAddress>
        <TotalContributionsAmt>RESTRICTED</TotalContributionsAmt>
      </ContributorInformationGrp>
    </IRS990ScheduleB>
    <IRS990ScheduleD documentId="RetDoc1040000001">
      <CYEndwmtFundGrp>
        <BeginningYearBalanceAmt>5105983</BeginningYearBalanceAmt>
        <ContributionsAmt>1705885</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>1083455</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>289459</OtherExpendituresAmt>
        <EndYearBalanceAmt>7605864</EndYearBalanceAmt>
      </CYEndwmtFundGrp>
      <CYMinus1YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>4496653</BeginningYearBalanceAmt>
        <ContributionsAmt>250000</ContributionsAmt>
        <InvestmentEarningsOrLossesAmt>579930</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>220600</OtherExpendituresAmt>
        <EndYearBalanceAmt>5105983</EndYearBalanceAmt>
      </CYMinus1YrEndwmtFundGrp>
      <CYMinus2YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>3974891</BeginningYearBalanceAmt>
        <InvestmentEarningsOrLossesAmt>712262</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>190500</OtherExpendituresAmt>
        <EndYearBalanceAmt>4496653</EndYearBalanceAmt>
      </CYMinus2YrEndwmtFundGrp>
      <CYMinus3YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>4789177</BeginningYearBalanceAmt>
        <InvestmentEarningsOrLossesAmt>-814286</InvestmentEarningsOrLossesAmt>
        <EndYearBalanceAmt>3974891</EndYearBalanceAmt>
      </CYMinus3YrEndwmtFundGrp>
      <CYMinus4YrEndwmtFundGrp>
        <BeginningYearBalanceAmt>4299366</BeginningYearBalanceAmt>
        <InvestmentEarningsOrLossesAmt>597793</InvestmentEarningsOrLossesAmt>
        <OtherExpendituresAmt>107982</OtherExpendituresAmt>
        <EndYearBalanceAmt>4789177</EndYearBalanceAmt>
      </CYMinus4YrEndwmtFundGrp>
      <BoardDesignatedBalanceEOYPct>0.71658</BoardDesignatedBalanceEOYPct>
      <PrmnntEndowmentBalanceEOYPct>0.18281</PrmnntEndowmentBalanceEOYPct>
      <TermEndowmentBalanceEOYPct>0.10061</TermEndowmentBalanceEOYPct>
      <EndowmentsHeldUnrelatedOrgInd>0</EndowmentsHeldUnrelatedOrgInd>
      <EndowmentsHeldRelatedOrgInd>0</EndowmentsHeldRelatedOrgInd>
      <LeaseholdImprovementsGrp>
        <OtherCostOrOtherBasisAmt>24185</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>13532</DepreciationAmt>
        <BookValueAmt>10653</BookValueAmt>
      </LeaseholdImprovementsGrp>
      <EquipmentGrp>
        <OtherCostOrOtherBasisAmt>8164</OtherCostOrOtherBasisAmt>
        <DepreciationAmt>2597</DepreciationAmt>
        <BookValueAmt>5567</BookValueAmt>
      </EquipmentGrp>
      <TotalBookValueLandBuildingsAmt>16220</TotalBookValueLandBuildingsAmt>
      <OtherLiabilitiesOrgGrp>
        <Desc>OPERATING LEASE LIABILITY</Desc>
        <Amt>26189</Amt>
      </OtherLiabilitiesOrgGrp>
      <TotalLiabilityAmt>26189</TotalLiabilityAmt>
      <FootnoteTextInd>X</FootnoteTextInd>
      <TotalRevEtcAuditedFinclStmtAmt>3241268</TotalRevEtcAuditedFinclStmtAmt>
      <NetUnrealizedGainsInvstAmt>792745</NetUnrealizedGainsInvstAmt>
      <RevenueNotReportedAmt>792745</RevenueNotReportedAmt>
      <RevenueSubtotalAmt>2448523</RevenueSubtotalAmt>
      <RevenueNotReportedFinclStmtAmt>0</RevenueNotReportedFinclStmtAmt>
      <TotalRevenuePerForm990Amt>2448523</TotalRevenuePerForm990Amt>
      <TotExpnsEtcAuditedFinclStmtAmt>692343</TotExpnsEtcAuditedFinclStmtAmt>
      <ExpensesNotReportedAmt>0</ExpensesNotReportedAmt>
      <ExpensesSubtotalAmt>692343</ExpensesSubtotalAmt>
      <ExpensesNotRptFinclStmtAmt>0</ExpensesNotRptFinclStmtAmt>
      <TotalExpensesPerForm990Amt>692343</TotalExpensesPerForm990Amt>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART V, LINE 4:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ENDOWMENT FUNDS ARE USED BY THE ORGANIZATION TO FUND THE ANNUAL DANIEL P. MOYNIHAN PRIZE.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART X, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>MANAGEMENT OF THE ACADEMY CONSIDERS THE LIKELIHOOD OF CHANGES BY TAXING AUTHORITIES IN ITS FILED INCOME TAX RETURNS AND RECOGNIZES A LIABILITY FOR OR DISCLOSES POTENTIAL SIGNIFICANT CHANGES THAT MANAGEMENT BELIEVES ARE MORE LIKELY THAN NOT TO OCCUR UPON EXAMINATION BY TAX AUTHORITIES, INCLUDING CHANGES TO THE ACADEMY'S STATUS AS A NOT-FOR-PROFIT ENTITY. MANAGEMENT BELIEVES THE ACADEMY MET THE REQUIREMENTS TO MAINTAIN ITS TAX-EXEMPT STATUS AND HAS NOT IDENTIFIED ANY UNCERTAIN TAX POSITIONS SUBJECT TO THE UNRELATED BUSINESS INCOME TAX THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE ACCOMPANYING FINANCIAL STATEMENTS. THERE ARE CURRENTLY NO EXAMINATIONS PENDING OR IN PROCESS.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleD>
    <IRS990ScheduleI documentId="RetDoc1041900001">
      <GrantRecordsMaintainedInd>1</GrantRecordsMaintainedInd>
      <GrantsOtherAsstToIndivInUSGrp>
        <GrantTypeTxt>TIMOTHY DAVID SNYDER</GrantTypeTxt>
        <RecipientCnt>1</RecipientCnt>
        <CashGrantAmt>25000</CashGrantAmt>
        <NonCashAssistanceDesc>MOYNIHAN AWARD</NonCashAssistanceDesc>
      </GrantsOtherAsstToIndivInUSGrp>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>PART I, LINE 2:</FormAndLineReferenceDesc>
        <ExplanationTxt>EACH YEAR, NOMINATIONS ARE SOLICITED AND SUBSEQUENTLY REVIEWED BY A DEDICATED COMMITTEE COMPRISED OF NINE MEMBERS. THIS COMMITTEE EVALUATES ALL NOMINATIONS AND SUBMITS ITS RECOMMENDATION FOR THE ANNUAL AWARD RECIPIENT TO THE BOARD OF DIRECTORS. THE AAPSS BOARD HOLDS THE RESPONSIBILITY FOR MAKING THE FINAL SELECTION AND DETERMINATION OF THE AWARD RECIPIENT.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleI>
    <IRS990ScheduleO documentId="RetDoc1044400001">
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION A, LINE 4</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BUDGET/FINANCIAL POLICY AND PROCEDURE AND THE INVESTMENT POLICY DOCUMENTS WERE UPDATED AT THE BOARD MEETING ON DECEMBER 8, 2025.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 11B</FormAndLineReferenceDesc>
        <ExplanationTxt>THE DRAFT FORM 990 IS RECEIVED AND REVIEWED BY THE EXECUTIVE DIRECTOR AND FINANCE COMMITTEE. UPON APPROVAL BY THE FINANCE COMMITTEE, THE DRAFT 990 IS DISTRIBUTED TO THE BOARD FOR THEIR REVIEW PRIOR TO FILING.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 12C</FormAndLineReferenceDesc>
        <ExplanationTxt>ON AN ANNUAL BASIS, BOARD MEMBERS ARE PROVIDED WITH A COPY OF THE CONFLICT OF INTEREST POLICY AND ARE REQUIRED TO ATTEST TO NO CONFLICTS. WHEN A CONFLICT ARISES, THE INTERESTED PARTY IS REQUIRED TO ALERT THE BOARD AND SHALL NOT PARTICIPATE IN THE DISCUSSION OR NOTING ON THIS MATTER. WHEN DOUBT ARISES REGARDING WHETHER A CONFLICT EXISTS, A VOTE IS TAKEN BY THE BOD, EXCLUDING THE PERSON TO WHICH THE CONFLICT HAS ARISEN. ALL CONFLICTS ARE NOTED WITHIN THE OFFICIAL MINUTES OF THE BOARD.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION B, LINE 15</FormAndLineReferenceDesc>
        <ExplanationTxt>THE BOARD RECOMMENDS AN ANNUAL COST OF LIVING ADJUSTMENT FOR THE EXECUTIVE DIRECTOR AND PROGRAM MANAGER. THIS COST OF LIVING ADJUSTMENT IS COMMUNICATED TO THE TRUSTEES OF THE UNIVERSITY OF PENNSYLVANIA WHO IS THE EMPLOYER.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART VI, SECTION C, LINE 19</FormAndLineReferenceDesc>
        <ExplanationTxt>THE ORGANIZATION MAKES IT GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART IX, LINE 11G</FormAndLineReferenceDesc>
        <ExplanationTxt>CAPITAL CAMPAIGN CONSULTING AND WEBFLOW HOSTING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 60,204. TOTAL EXPENSES 60,204. DESIGN CONSULTING: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 6,651. FUNDRAISING EXPENSES 2,250. TOTAL EXPENSES 8,901. PHOTOGRAPHY: PROGRAM SERVICE EXPENSES 3,150. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 3,150. A/V CONSULTING: PROGRAM SERVICE EXPENSES 6,632. MANAGEMENT AND GENERAL EXPENSES 0. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 6,632. TRANSCRIPTION SERVICES: PROGRAM SERVICE EXPENSES 0. MANAGEMENT AND GENERAL EXPENSES 1,500. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 1,500.</ExplanationTxt>
      </SupplementalInformationDetail>
      <SupplementalInformationDetail>
        <FormAndLineReferenceDesc>FORM 990, PART XII, LINE 2C:</FormAndLineReferenceDesc>
        <ExplanationTxt>THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.</ExplanationTxt>
      </SupplementalInformationDetail>
    </IRS990ScheduleO>
  </ReturnData>
</Return>