The American Institute of Physics is a federation that advances the success of our 10 Member Societies and an institute that operates as a center of excellence supporting the physical sciences enterprise. Over the last 400 years, the physical sciences have evolved a powerful predictive model of our world, enabling stunning technological achievements and enriching our understanding of the Universe and our place in it. AIP has, for nearly a century, worked to advance, promote, and serve the physical sciences. AIP provides the means for its Member Societies to pool, coordinate, and leverage their diverse expertise and contributions in the pursuit of the shared goal of advancing the physical sciences in the research enterprise, in the economy, in education, and in society. Through their partnership in AIP, Member Societies broaden their impact and achieve results beyond their individual missions and mandates. AIP also acts as an independent institute where research in social science, policy, and history advances the discipline of the physical sciences. Whereas AIP was established as a provider of publishing services to its Member Societies, the Institute has evolved considerably over the decades. Following the formation and successful spinoff in 2013 of AIP Publishing and as the Institute heads toward its centenary in 2031, AIP has adopted a Strategic Framework that is guiding the Institute's operations and evolution over the period 2020-2025.