AIP Publishing (AIPP) was formed by the American Institute of Physics (AIP) on January 22, 2013 as a single member limited liability company (LLC) and a separate legal entity from AIP, with all the powers of any legal entity, generally, and a separate Board and management. AIPP is considered part of AIP for U.S. Federal tax purposes, and is operated as an educational organization within the meaning of section 501(c)(3) of the Internal Revenue Code. AIPP operates for charitable, educational and scientific purposes, and to support the educational mission of AIP through scholarly publishing activities in the physical and related sciences.
The business and affairs of AIPP are managed, operated and controlled by or under the direction of the AIPP Board of Managers, and guided by the Limited Liability Company Agreement of AIP Publishing LLC (dated February 1, 2013). The Board is composed of the Chair of the AIP Governing Board, the CEO of AIP, CEO of AIPP, individuals appointed by Member Societies of AIP which conduct all their scholarly publishing activities through AIPP, and individuals (considered, along with the Chair, independent Board members) elected to the Board who have scholarly and business expertise of importance to the management of AIPP. The AIPP Board of Managers owes duties of care and loyalty to AIPP and AIP as affirmed or limited in the Operating Agreement. The Operating Agreement confers upon each Board Manager the obligations of a director of a corporation.