2024-06-14T09:02:00-05:00 2023-12-31 363168081 SIKICH LLC 1415 W DIEHL RD SUITE 400 NAPERVILLE IL 605632349 990 2023-01-01 361516660 PROPERTY LOSS RESEARCH BUREAU PROP 6307242200 3025 HIGHLAND PARKWAY 800 DOWNERS GROVE IL 60515 BRYAN FALCHUK PRESIDENT & CEO 6307242200 2024-06-13 1 BRYAN FALCHUK 999009999 1 HEATHER BONIFAS CPA P01711657 6305668400 2024-06-13 2 AAL1 IAL1 2023 2023-04-26 12:10:37Z DBA PROPERTY AND LIABILITY RESOURCE BUREAU BRYAN FALCHUK 3025 HIGHLAND PARKWAY 800 DOWNERS GROVE IL 60515 22401607 0 X WWW.PLRB.ORG X 1977 IL RESOURCING THE PROPERTY AND CASUALTY INSURANCE INDUSTRY THROUGH CONSULTING AND TRAINING. 6 6 46 300 0 0 0 857379 10862777 11598202 510611 722428 0 5278 11373388 13183287 10000 0 0 0 7199255 8072876 0 0 0 2862740 3241237 10071995 11314113 1301393 1869174 31019563 30542376 12573908 9694014 18445655 20848362 X OUR PURPOSE IS TO PROMOTE THE INTERESTS OF THE PROPERTY AND CASUALTY INSURANCE INDUSTRY GENERALLY IN MATTERS RELATED TO ADJUDICATION AND RESOLUTION OF CLAIMS. MORE SPECIFICALLY, THE PROPERTY LOSS RESEARCH BUREUA STRIVES TO:1. PROMOTE THE ACHIEVEMENT AND MAINTENANCE OF THE HIGHEST LEVELS OF COMPETENCE AMONG THOSE REPRESENTING INSURERS IN THE ADJUSTMENT OF INSURANCE CLAIMS.2. PROVIDE RESEARCH AND ANALYSIS OF CLAIMS COVERAGE ISSUES. 3. PROMOTE CLARITY IN, AND UNDERSTANDING OF, INSURANCE POLICY LANGUAGE.4. PROMOTE DESIGN OF INNOVATIVE, FAIR AND EFFICIENT CLAIMS ADJUSTING PRACTICES. 5. ARRANGE AND CREATE EFFECTIVE INDUSTRY TRAINING PROGRAMS. 6. CONTRIBUTE TO THE INDUSTRY'S CLAIMS RESPONSE, ASSIST AND EDUCATE CATASTROPHE CLAIMS PERSONNEL, AND AID CATASTROPHE VICTIMS THROUGH PUBLIC INFORMATION.7. COOPERATE WITH OTHER PROPERTY AND CASUALTY INDUSTRY GROUPS, ASSOCIATIONS, AND OTHERS IN THEIR EFFORTS TO ENHANCE THE KNOWLEDGE AND PROFESSIONALISM OF THE INDUSTRY AND ITS SERVICE. 0 0 EDUCATION AND TRAINING, LEGAL AND CLAIMS RESEARCH SERVICES, AND OTHER SERVICES. THE MAJOR CONFERENCES HELD IN 2023 WERE THE CLAIMS CONFERENCE, LARGE LOSS CONFERENCE , REGIONAL ADJUSTERS CONFERENCE AND THE TECHNOLOGY SYMPOSIUM. PLRB PROVIDES AN EVER-GROWING INVENTORY OF CONTINUING EDUCATION ACCREDITED SELF-STUDY MODULES. MATERIALS ARE PREPARED BY STAFF, INDUSTRY VOLUNTEERS, OR ARE EDITED VIDEO-RECORDED PRESENTATIONS BY THE INDUSTRY'S LEADING CLAIMS SERVICE PROVIDERS AT OUR CLAIMS CONFERENCE. THESE MODULES CAN BE ACCESSED FROM ANY WEB ENABLED PC. TEST RESULTS ARE TRACKED BY PLRB, CERTIFICATES OF COMPLETION CAN BE PRINTED OUT BY THE USER, AND PLRB HAS AUTOMATED MUCH OF THE PROCESS BY WHICH THE USER APPLIES FOR AND RECEIVES CONTINUING EDUCATION CREDIT. 0 1 0 1 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5 0 46 1 0 0 0 0 0 0 0 0 X 6 6 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X BRYAN FALCHUK 6307242200 3025 HIGHLAND PARKWAY 800 DOWNERS GROVE IL 60515 PAUL EDWARDS DIRECTOR 1.00 X 0 0 0 TIM CONSTIEN DIRECTOR 1.00 X 0 0 0 BRYON NELSON DIRECTOR 1.00 X 0 0 0 SHANNON O'BRIEN DIRECTOR 1.00 X 0 0 0 MEG WEIST DIRECTOR 1.00 X 0 0 0 SEAN MCSWEENY DIRECTOR 1.00 X 0 0 0 BRYAN FALCHUK PRESIDENT & CEO & INTERIM TREASURER 36.00 X 649651 0 94204 LEONARD MURPHY SENIOR VP & GENERAL COUNSEL 36.00 X 328615 0 116094 ELIZABETH STERNE SENIOR VP PROPERTY LEGAL SERVICES & SECRETARY 36.00 X 294720 0 82982 RICHARD LONG CHAIRMAN 1.00 X 0 0 0 JEFFREY KERENSKY SENIOR VP - MEMBERSHIP 36.00 X 296729 0 92262 MICHAEL BRODE VP MEETINGS & EDUCATION 36.00 X 218565 0 78290 PETER BECKER VP INFORMATION SERVICES 36.00 X 248240 0 41065 PAUL DISPENSA VP - MEMBERSHIP (THRU 4/30/24) 36.00 X 204421 0 19344 THOMAS O' DOWD SENIOR MARKETING & EXHIBITS MANGER 36.00 X 135007 0 68189 RANSELLA WAGNER CA COUNSEL & LAW REVIEW EDITOR 36.00 X 126581 0 66671 KATHRYN JENSEN COUNSEL & SENIOR EDITOR 36.00 X 129753 0 37723 DAVID FOX COUNSEL 36.00 X 124278 0 36390 2756560 0 733214 27 0 1 0 ORLANDO WORLD CENTER MARRIOTT 8701 WORLD CENTER DR ORLANDO FL 32821 VENUE, FOOD & BEVERAGE 735534 ACTUALIZE STUDIO LLC 1821 PARKLAWN DRIVE 320 ROCKVILLE MD 20852 WEBSITE DEVELOPMENT 278750 ATLANTA MARRIOTT MARQUIS 265 PEACHTREE CENTER AVE NE ATLANTA GA 30303 VENUE, FOOD & BEVERAGE 266466 RENAISSANCE SCHAUMBURG CONVENTION CENTER 1551 THOREAU DR N SCHAUMBURG IL 60173 VENUE, FOOD & BEVERAGE 168064 ROGER KING INC 4175 S FREMONT AVE SUITE 101 TUCSON AZ 85714 AV 135205 5 857379 857379 ASSESSMENTS 900099 7979586 7979586 CONFERENCES, CONVENTIONS, MEETING 900099 3614246 3614246 PUBLICATIONS 900099 4370 4370 11598202 858863 858863 9081885 9218320 -136435 -136435 -136435 MISCELLANEOUS REVENUE 900099 5278 5278 5278 13183287 11598202 0 727706 2541416 4057487 563516 533727 376730 56925 152049 16335 606659 550429 155329 45665 78312 FOOD AND BEVERAGE 1243562 MISCELLANEOUS 179207 CATASTROPHE 55735 CONTINUING EDUCATION 54942 46088 11314113 7326625 8839735 237854 654449 3356003 21825 617194 572540 2668668 2347567 74050 321101 16333650 16730992 3074187 3401734 31019563 30542376 207199 296151 9250873 6848978 3115836 2548885 12573908 9694014 X 18445655 20848362 18445655 20848362 31019563 30542376 1869174 533533 0 X X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 1 0 145603 145603 0 22117 22117 0 2500948 2179847 321101 321101 ACCRUED INTEREST RECEIVABLE 133729 DEFERRED COMPENSATION INVESTMENTS 1188464 OPERATING LEASE RIGHT OF USE ASSETS 1222162 EMPLOYEE RETENTION CREDITS REC 857379 3401734 DEFERRED COMPENSATION LIABILITY 1121804 OPERATING LEASE LIABILITIES - LONG TERM 1192272 OPERATING LEASE LIABILITIES - CURRENT 234809 2548885 X 13659895 533533 533533 13126362 56925 56925 13183287 11257188 0 11257188 56925 56925 11314113 PART X, LINE 2: THE BUREAU IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE AS AN ORGANIZATION THAT IS NOT A PRIVATE FOUNDATION, PURSUANT TO A LETTER FROM THE INTERNAL REVENUE SERVICE DATED DECEMBER 15, 1976. THE BUREAU FOLLOWS AUTHORITATIVE GUIDANCE ISSUED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB) THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES RECOGNIZED IN AN ENTITY'S FINANCIAL STATEMENTS AND PRESCRIBES A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD HAS NOT BEEN MET. THIS GUIDANCE ALSO ADDRESSES DERECOGNITION, CLASSIFICATION, INTEREST AND PENALTIES, DISCLOSURE, AND TRANSITION. THE BUREAU CONDUCTS BUSINESS SOLELY IN THE U.S. AND, AS A RESULT, FILES INFORMATION RETURNS FOR U.S. AND ILLINOIS. IN THE NORMAL COURSE OF BUSINESS, THE BUREAU IS SUBJECT TO EXAMINATION BY TAXING AUTHORITIES. THE BUREAU IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE EXAMINATIONS BY TAX AUTHORITIES FOR TAX YEARS PRIOR TO 2019. 1 X X X X X X 1 0 0 BRYAN FALCHUK PRESIDENT & CEO & INTERIM TREASURER 439651 0 210000 0 0 0 47850 0 46354 0 743855 0 0 0 LEONARD MURPHY SENIOR VP & GENERAL COUNSEL 275415 0 53200 0 0 0 69740 0 46354 0 444709 0 0 0 JEFFREY KERENSKY SENIOR VP - MEMBERSHIP 245029 0 51700 0 0 0 45908 0 46354 0 388991 0 0 0 ELIZABETH STERNE SENIOR VP PROPERTY LEGAL SERVICES & 234720 0 60000 0 0 0 44801 0 38181 0 377702 0 0 0 MICHAEL BRODE VP MEETINGS & EDUCATION 180415 0 38150 0 0 0 33877 0 44413 0 296855 0 0 0 PETER BECKER VP INFORMATION SERVICES 208240 0 40000 0 0 0 37000 0 4065 0 289305 0 0 0 PAUL DISPENSA VP - MEMBERSHIP (THRU 4/30/24) 202921 0 0 0 1500 0 13156 0 6188 0 223765 0 0 0 THOMAS O' DOWD SENIOR MARKETING & EXHIBITS MANGER 117507 0 17500 0 0 0 21835 0 46354 0 203196 0 0 0 RANSELLA WAGNER CA COUNSEL & LAW REVIEW EDITOR 120581 0 5250 0 750 0 20317 0 46354 0 193252 0 0 0 KATHRYN JENSEN COUNSEL & SENIOR EDITOR 125978 0 3775 0 0 0 20227 0 17496 0 167476 0 0 0 DAVID FOX COUNSEL 119353 0 4925 0 0 0 18949 0 17441 0 160668 0 0 0 PART I, LINE 4A PAUL DISPENSA $107,500 FORM 990, PART VI, SECTION A, LINE 6 PROPERTY LOSS RESEARCH BUREAU IS A MEMBERSHIP ORGANIZATION AND HAS SIX INSTITUTIONAL VOTING MEMBERS, AS PROVIDED IN ITS BYLAWS. FORM 990, PART VI, SECTION A, LINE 7A EACH OF THE SIX INSTITUTIONAL VOTING MEMBERS IDENTIFIED IN THE BYLAWS DESIGNATES A REPRESENTATIVE THAT IS APPOINTED TO THE 11-MEMBER BOARD OF DIRECTORS. THE REMAINING FIVE MEMBERS OF THE BOARD OF DIRECTORS ARE APPOINTED BY THE SIX REPRESENTATIVES OF THE VOTING MEMBERS. FORM 990, PART VI, SECTION A, LINE 7B UNDER THE BYLAWS, NO ACTION OF THE BOARD OF DIRECTORS AMENDING THE BYLAWS OR ARTICLES OF INCORPORATION, REMOVING OFFICERS, ADOPTING A PLAN OF MERGER OR CONSOLIDATION, OR APPROVING THE SALE, LEASE, EXCHANGE OR OTHER DISPOSITION OF THE BUREAU'S ASSETS OR THE DISSOLUTION OF THE BUREAU, SHALL BE EFFECTIVE WITHOUT THE UNANIMOUS WRITTEN CONSENT OF THE VOTING MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B PROPERTY LOSS RESEARCH BUREAU'S (PLRB) FORM 990 WAS PREPARED ON BEHALF OF PLRB BY THE ACCOUNTING FIRM SIKICH LLP WHO ALSO SERVE AS PLRB'S INDEPENDENT AUDITORS. PLRB'S STAFF ACCOUNTANT, KATHARINE JOHNSON, CONSULTED WITH SIKICH LLP ABOUT VARIOUS INFORMATION REQUESTED BY THE FORM. PLRB PRESIDENT & CEO, BRYAN FALCHUK, REVIEWED THE PROPOSED ANSWERS TO ALL THE LINES AND QUESTIONS ON THE FORM AND DRAFTED NARRATIVE INFORMATION REQUESTED BY THE FORM 990. ALL REVIEW OF PLRB'S FORM 990 BY THE PLRB PRESIDENT OCCURRED PRIOR TO THE FILING OF THAT FORM 990 WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C ALL EMPLOYEES ARE REQUIRED TO FULLY DISCLOSE TO THEIR SUPERVISORS ANY ACTIVITIES WHICH MIGHT BE PROHIBITED UNDER SECTION 5.4, CONFLICT OF INTEREST, OF THE PLRB EMPLOYEE HANDBOOK. IN ADDITION, MANAGEMENT INVESTIGATES ANY ACTIVITY BY ANY EMPLOYEE WHICH MANAGEMENT OBSERVES OR BECOMES AWARE OF WHICH MIGHT BE PROHIBITED UNDER THE CONFLICT OF INTEREST POLICY. AFTER SUCH INVESTIGATION, MANAGEMENT DETERMINES WHETHER THE ACTIVITY EITHER VIOLATES OR DOES NOT VIOLATE PLRB'S CONFLICT OF INTEREST POLICY AND TAKES ANY REQUIRED STEPS TO ENFORCE THE POLICY. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE/COMPENSATION COMMITTEE OF THE PROPERTY LOSS RESEARCH BUREAU (PLRB) BOARD OF DIRECTORS REVIEWS THE PRESIDENT'S WRITTEN PERFORMANCE EVALUATIONS AND ANNUAL SALARY INCREASE AND INCENTIVE COMPENSATION RECOMMENDATIONS FOR EACH OF PLRB'S VPS AND AVPS. THE EXECUTIVE/COMPENSATION COMMITTEE ALSO REVIEWS THE PRESIDENT'S PERFORMANCE ANNUALLY AND INDEPENDENTLY DETERMINES THE PRESIDENT'S ANNUAL SALARY INCREASE AND INCENTIVE COMPENSATION AWARD. THIS PROCESS IS UNDERTAKEN PURSUANT TO A BOARD-APPROVED PLRB PERFORMANCE EVALUATION AND SALARY ADMINISTRATION PROGRAM WHICH INCLUDES A PERFORMANCE-BASED SALARY ADJUSTMENT GUIDE MATRIX. THIS PROGRAM WAS ADOPTED BY THE BOARD AFTER IT WAS DEVELOPED BY AN INDEPENDENT COMPENSATION CONSULTANT. THAT COMPENSATION CONSULTANT ANNUALLY OFFERS RECOMMENDATIONS FOR UPDATING THE PLRB SALARY STRUCTURE AND APPLYING THE PERFORMANCE-BASED SALARY ADJUSTMENT GUIDE MATRIX, WHICH RECOMMENDATIONS ARE REVIEWED AND ADOPTED OR MODIFIED BY ACTION OF THE EXECUTIVE/COMPENSATION COMMITTEE AND THE PLRB BOARD OF DIRECTORS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART XII, LINE 2C THE ORGANIZATION HAS NOT CHANGED EITHER ITS AUDIT OVERSIGHT OR SELECTION PROCESS DURING THE TAX YEAR.