Department of the Treasury Internal Revenue Service
Public Charity Status and Public Support
Complete if the organization is a section 501(c)(3) organization or a section
4947(a)(1) nonexempt charitable trust.
Attach to Form 990 or Form 990-EZ. See separate instructions.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
AMERICAN ACADEMY OF NEUROLOGY FOUNDATION
Employer identification number
41-1717098
Part I
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 11, check only one box.)
1
2
3
4
5
section 170(b)(1)(A)(iv). (Complete Part II.)
6
7
8
9
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 business taxable income (less section 511 tax) from businesses
acquired by the organization after June 30, 1975. See section 509(a)(2). (Complete Part III.)
10
11
e
By checking this box, I certify that the organization is not controlled directly or indirectly by one or more disqualified persons other than foundation managers and other than one or more publicly supported organizations described in section 509(a)(1) or section 509(a)(2).
f
If the organization received a written determination from the IRS that it is a Type I, Type II or Type III supporting organization, check this box
..................................................
g
Since August 17, 2006, has the organization accepted any gift or contribution from any of the following persons?
(i) a person who directly or indirectly controls, either alone or together with persons described in (ii)
Yes
No
and (iii) below, the governing body of the the supported organization?
................
11g(i)
(ii)
a family member of a person described in (i) above?
......................
11g(ii)
(iii)
a 35% controlled entity of a person described in (i) or (ii) above?
................
11g(iii)
h
Provide the following information about the supported organization(s).
(i) Name of supported organization
(ii) EIN
(iii) Type of organization (described on lines 1- 9 above or IRC section (see instructions))
(iv) Is the organization in col. (i) listed in your governing document?
(v) Did you notify the organization in col. (i) of your support?
(vi) Is the organization in col. (i) organized in the U.S.?
(vii) Amount of support?
Yes
No
Yes
No
Yes
No
Total
For Paperwork Reduction Act Notice, see the Instructions for Form 990.
Cat. No. 11285F
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 2
Part II
Support Schedule for Organizations Described in IRC 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (Complete only if you checked the box on line 5, 7, or 8 of Part I or if the
organization failed to qualify under Part III. If the organization fails to
qualify under the tests listed below, please complete Part III.)
Section A. Public Support
Calendar year(or fiscal year beginning in)
(a) 2006
(b) 2007
(c) 2008
(d) 2009
(e) 2010
(f) Total
1
Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") ....
4,236,671
6,491,460
3,882,335
5,009,277
2,959,621
22,579,364
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..
4,236,671
6,491,460
3,882,335
5,009,277
2,959,621
22,579,364
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 (f)..
9,237,914
6
Public Support. Subtract line 5 from line 4.
13,341,450
Section B. Total Support
Calendar year(or fiscal year beginning in)
(a) 2006
(b) 2007
(c) 2008
(d) 2009
(e) 2010
(f) Total
7
Amounts from line 4..
4,236,671
6,491,460
3,882,335
5,009,277
2,959,621
22,579,364
8
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..
60,118
126,924
52,744
21,465
15,900
277,151
9
Net income from unrelated business activities, whether or not the business is regularly carried on..
1,310
2,496
1,918
3,582
2,572
11,878
10
Other income. (Explain in Part IV.) Do not include gain or loss from the sale of capital assets..
84
84
11
Total support (Add lines 7 through 10).
22,868,477
12
Gross receipts from related activities, etc. (See instructions.)
..................
12
3,769,510
13
First Five Years
If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a 501(c)(3) organization,
check this box and stop here..........................................
Section C. Computation of Public Support Percentage
14
Public Support Percentage for 2010 (line 6 column (f) divided by line 11 column (f))
.........
14
58.340 %
15
Public Support Percentage for 2009 Schedule A, Part II, line 14
...............
15
60.390 %
16a
33 1/3% support test—2010.
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
......................
b
33 1/3% support test—2009.
If the organization did not check the 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%-facts-and-circumstances test—2010.
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 IV how the organization meets the "facts and circumstances" test. The organization qualifies as a publicly supported
organization
..................................................
b
10%-facts-and-circumstances test—2009.
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 IV how the organization meets the "facts and circumstances" test. The organization qualifies as a publicly supported organization
..............................................
18
Private Foundation
If the organization did not check a box on line 13, 16a, 16b, 17a or 17b, check this box and see
instructions
...................................................
Schedule A (Form 990 or 990-EZ) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 3
Part III
Support Schedule for Organizations Described in IRC 509(a)(2) (Complete only if you checked the box on line 9 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
Calendar year(or fiscal year beginning in)
(a) 2006
(b) 2007
(c) 2008
(d) 2009
(e) 2010
(f) Total
1
Gifts, grants, contributions, and membership fees received. (Do not include any "unusual grants.") .
2
Gross receipts from admissions, merchandise sold or services performed, or facilities furnished in any activity that is related to the organization's tax-exempt purpose......
3
Gross receipts from activities that are not an unrelated trade or business under section 513..
4
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf...
5
The value of services or facilities furnished by a governmental unit to the organization without charge..
6
Total. Add lines 1 through 5.
7a
Amounts included on lines 1, 2, and 3 received from disqualified persons...
b
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.
c
Add lines 7a and 7b..
8
Public Support (Subtract line 7c from line 6.)
Section B. Total Support
Calendar year (or fiscal year beginning in)
(a) 2006
(b) 2007
(c) 2008
(d) 2009
(e) 2010
(f) Total
9
Amounts from line 6...
10a
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources..
b
Unrelated business taxable income (less section 511 taxes) from businesses acquired after June 30, 1975.
c
Add lines 10a and 10b.
11
Net income from unrelated business activities not included in line 10b, whether or not the business is regularly carried on.
12
Other income. Do not include gain or loss from the sale of capital assets (Explain in Part IV.)
13
Total support (Add lines 9, 10c, 11 and 12.).
14
First Five Years
If the Form 990 is for the organization's first, second, third, fourth, or fifth tax year as a 501(c)(3) organization,
check this box and stop here.............................................
Section C. Computation of Public Support Percentage
15
Public Support Percentage for 2010 (line 8 column (f) divided by line 13 column (f))
.........
15
16
Public support percentage from 2009 Schedule A, Part III, line 15
...............
16
Section D. Computation of Investment Income Percentage
17
Investment income percentage for 2010 (line 10c column (f) divided by line 13 column (f))
......
17
18
Investment income percentage from 2009 Schedule A, Part III, line 17
.............
18
19a
33 1/3% support tests—2010.
If the organization did not check the box on line 14, and line 15 is more than 33 1/3% and line 17 is not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization
..........
b
33 1/3% support tests—2009.
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 not more than 33 1/3%, check this box and stop here. The organization qualifies as a publicly supported organization
....
20
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) 2010
Schedule A (Form 990 or 990-EZ) 2010
Page 4
Part IV
Supplemental Information.
Supplemental Information. Complete this part to provide the explanation required by Part II, line 10; Part II, line 17a or 17b; or Part III, line 12. Also complete this part for any additional information. (See instructions).
Facts And Circumstances Test
Explanation
SCHEDULE A, PART II, LINE 10, EXPLANATION OF OTHER INCOME: MISCELLANEOUS REVENUE
Schedule A (Form 990 or 990-EZ) 2010
Additional Data
Software ID:
Software Version:
-
TIN:
SCHEDULE O (Form 990 or 990-EZ)
Department of the Treasury Internal Revenue Service
Supplemental Information to Form 990 or 990-EZ
Complete to provide information for responses to specific questions on
Form 990 or to provide any additional information.
Attach to Form 990 or 990-EZ.
OMB No. 1545-0047
2010
Open to Public Inspection
Name of the organization
AMERICAN ACADEMY OF NEUROLOGY FOUNDATION
Employer identification number
41-1717098
Identifier
Return Reference
Explanation
FORM 990, PART VI, SECTION A, LINE 1
THE FOUNDATION'S EXECUTIVE COMMITTEE CONSISTS OF SIX MEMBERS OF THE GOVERNING BODY INCLUDING THE CHAIR, IMMEDIATE PAST-CHAIR, VICE-CHAIR(S), SECRETARY, AND TREASURER PROVIDED THAT THE ACADEMY'S TRUSTEES CONSTITUTE A MAJORITY OF THE MEMBERS OF THE COMMITTEE AT ALL TIMES. THE EXECUTIVE COMMITTEE HAS THE AUTHORITY AND THE DUTIES OF THE GOVERNING BODY BETWEEN MEETINGS.
FORM 990, PART VI, SECTION A, LINE 4
THE FOUNDATION AMENDED ITS BYLAWS FOR THE FOLLOWING: 1) THE COMPOSITION OF THE BOARD OF TRUSTEES INCLUDES THE EXECUTIVE DIRECTOR OF THE AMERICAN ACADEMY OF NEUROLOGY FOUNDATION'S AS AN EX-OFFICIO MEMBER. 2) THE QUORUM WAS REVISED TO A MAJORITY OF MEMBERS OF THE BOARD OF TRUSTEES, BUT NOT LESS THAN ONE-THIRD OF THE VOTING MEMBERS. 3) THE BOARD VICE CHAIR(S), SECRETARY, AND TREASURER DUTIES WERE REFRAMED TO BE DELEGATED BY THE BOARD CHAIR. 4) A PROVISION WAS ADDED SO THAT AN EXECUTIVE DIRECTOR POSITION MAY BE EMPLOYED BY THE BOARD OF TRUSTEES. 5) ADOPTED A PROVISION FOR A JOINT AUDIT COMMITTEE OF THE AMERICAN ACADEMY OF NEUROLOGY, THE AMERICAN ACADEMY OF NEUROLOGY FOUNDATION, AND AAN ENTERPRISES, INC. WITH REPRESENTATION OF EACH ORGANIZATION ON THE JOINT AUDIT COMMITTEE. 6) THE FOUNDATION'S BYLAWS MAY BE ALTERED, AMENDED, OR REPEALED OR NEW BYLAWS MAY BE ADOPTED BY AN AFFIRMATIVE VOTE OF TWO-THIRDS OF ALL THE MEMBERS OF THE BOARD OF TRUSTEES. 7) THE FOUNDATION'S CONFLICT OF INTEREST POLICY CONTAINED WITHIN THE BYLAWS WAS AMENDED TO INCLUDE AN ANNUAL DISCLOSURE STATEMENT REQUIREMENT, AND TO DEFINE PROHIBITED RELATIONSHIPS FOR THE CHAIR AND IMMEDIATE PAST CHAIR.
FORM 990, PART VI, SECTION A, LINE 7A
THE AMERICAN ACADEMY OF NEUROLOGY ACADEMY'S PRESIDENT, PRESIDENT-ELECT, AND IMMEDIATE PAST PRESIDENT AS ELECTED BY THE ACADEMY'S MEMBERSHIP ALSO SERVE ON THE BOARD OF THE FOUNDATION AS EX-OFFICIO TRUSTEES WITH FULL VOTING RIGHTS.
FORM 990, PART VI, SECTION B, LINE 11
THE CFO AND GENERAL COUNSEL UNDERTOOK AN EXTENSIVE REVIEW OF THE DRAFT FORM 990 AS INITIALLY PREPARED BY THE AUDIT FIRM AFTER THAT FIRM'S NONPROFIT LEAD PARTNER AND TAX PROFESSIONALS SECURED ALL NECESSARY INFORMATION. THEIR REVIEW WAS THEREAFTER AUGMENTED BY EXEMPT ORGANIZATIONS TAX/LEGAL COUNSEL. THE FORM 990 WAS THEN PRESENTED TO THE AUDIT COMMITTEE BY THE CFO AND OTHER MEMBERS OF THE MANAGEMENT TEAM. THE AUDIT COMMITTEE REVIEWED THE FORM 990 AND IDENTIFIED ANY AGREED UPON CHANGES TO BE MADE. IN LINE WITH MINNESOTA LAW, THE FINAL FORM 990 WAS APPROVED BY THE BOARD OF TRUSTEES ON OR BEFORE 11/15/2011. THEREAFTER, THE FINAL AS-FILED FORM 990 WILL BE BROUGHT TO THE BOARD FOR DISCUSSION AT THE NEXT REGULARLY SCHEDULED FULL MEETING OF THE BOARD OF DIRECTORS IN THE FIRST QUARTER OF 2012. AT THAT TIME, A COMPLETE OVERVIEW OF THIS FORM 990 WILL BE PROVIDED TO THE BOARD BY THE CFO AND OUTSIDE TAX/LEGAL COUNSEL.
FORM 990, PART VI, SECTION B, LINE 12C
THE FOUNDATION'S CONFLICT OF INTEREST POLICY COVERS INDIVIDUALS SERVING AS AN OFFICER, DIRECTOR, COMMITTEE MEMBER, OR OTHER POSITIONS OF OFFICIAL RESPONSIBILITY OR LEADERSHIP. ALL COVERED INDIVIDUALS ARE REQUIRED TO COMPLETE A RELATIONSHIP DISCLOSURE STATEMENT ANNUALLY, OR AS CHANGES IN PERSONAL CIRCUMSTANCES OCCUR. THE STATEMENTS ARE REVIEWED AND ACTIONS DETERMINED ACCORDING TO THE FOUNDATION'S HIERARCHY BASED ON POSITION; OR BY THE EXECUTIVE COMMITTEE IF A RESOLUTION CANNOT BE MADE. POTENTIAL CONFLICTS ARE HANDLED ON AN INDIVIDUAL BASIS. ACTIONS TAKEN DEPEND ON THE SEVERITY OF THE CONFLICT WHICH INCLUDE NO ACTION REQUIRED, ON-GOING MONITORING WITH APPROPRIATE DISCLOSURE, OR WITHDRAWAL FROM THE CONFLICTING RELATIONSHIP. CONFLICT OF INTEREST PROCEEDINGS ARE DOCUMENTED IN MEETING MINUTES OR AS APPROPRIATE.
FORM 990, PART VI, SECTION C, LINE 19
THE FOUNDATION MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC ON THEIR WEBSITE. THE FOUNDATION DID NOT MAKE ITS GOVERNING DOCUMENTS NOR THE CONFLICT OF INTEREST POLICY AVAILABLE TO THE PUBLIC IN 2010.
EXPLANATION FOR GRANT EXPENSE
FORM 990, PART IX, LINE 1
ADJUSTMENTS WERE MADE TO THE AMOUNT REPORTED AS GRANT EXPENSE ON FORM 990, PART IX, LINE 1 TO REFLECT AMOUNTS NOT AWARDED OR RETURNED DUE TO ELIGIBILITY, AND A PRESENT VALUE ADJUSTMENT. THE AMOUNTS PRESENTED IN SCHEDULE I REFLECT THE TOTAL GRANT AWARDED AT THE TIME OF APPROVAL.
For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.