2024-11-12T14:55:09-06:00 2023-12-31 420714325 RSM US LLP 4650 EAST 53RD STREET DAVENPORT IA 528073479 990 2023-01-01 521347951 CSBS EDUCATION FOUNDATION EDUC 2022962840 1300 I STREET NW 700 WASHINGTON DC 20005 LEILA GREEN EXECUTIVE VICE PRESIDENT/CFO 2022962840 2024-11-08 1 1 JENIFER L CHASE P01306883 5638884000 2024-11-08 2023 2024-10-15 13:58:12Z BRANDON MILHORN 1300 I STREET NW 700 WASHINGTON DC 20005 4026127 0 X WWW.CSBS.ORG X 1984 DC THE PURPOSE OF THE CSBS EDUCATION FOUNDATION (CSBSEF) IS TO FUND AND DIRECT THE STATE REGULATORY WORKFORCE DEVELOPMENT, EXAMINER CERTIFICATION, AND AGENCY ACCREDITATION EFFORTS. TO THAT END, THE FOUNDATION OFFERS A WIDE RANGE OF ON-SITE AND ONLINE LEARNING AND DEVELOPMENT PROGRAMS FOR REGULATORY PERSONNEL, A VARIETY OF EXAMINER CERTIFICATION DESIGNATIONS TO RECOGNIZE THEIR PROFESSIONALISM, AND ACCREDITATION PROGRAMS FOR STATE BANK AND MORTGAGE REGULATORY AGENCIES TO STRENGTHEN THE SYSTEM OF STATE FINANCIAL SUPERVISION. 13 13 0 17 0 0 1299542 1705017 1566852 2255954 50022 65156 0 0 2916416 4026127 27050 21000 0 0 1170697 1089924 0 0 0 1708646 3031783 2906393 4142707 10023 -116580 4530734 3960910 1626972 1057148 2903762 2903762 X THE MISSION OF THE CSBS EDUCATION FOUNDATION IS TO ENHANCE STATE FINANCIAL SUPERVISION, WHICH IS FULFILLED BY PROVIDING: (I) TECHNICAL EXAMINER TRAINING, CONTINUING EXECUTIVE EDUCATION PROGRAMS; (II) AGENCY ACCREDITATION FOR BANK SAFETY AND SOUNDNESS, MORTGAGE, AND MONEY SERVICE BUSINESS SUPERVISION; AND (III) EXAMINER CERTIFICATION FOR MULTIPLE LEVELS OF EXPERTISE AND SPECIALTY AREAS. 0 0 1698655 1467056 CONTINUING AND EXECUTIVE EDUCATION: THESE PROGRAMS PROVIDE INDUSTRY, POLICY, AND RISK MANAGEMENT UPDATES FOR MID-LEVEL MANAGERS AND SENIOR EXECUTIVES IN THE STATE REGULATORY AGENCIES. 501559 21000 424303 TECHNICAL TRAINING: THESE ONLINE AND ON-SITE PROGRAMS PREPARE EXAMINERS OF BANKS, TRUST DEPARTMENTS, MORTGAGE COMPANIES, AND MONEY SERVICE BUSINESSES IN THE DETAILED PROCESS OF ON-SITE EXAMINATION AND OFF-SITE MONITORING OF THESE DEPOSITORY AND NON-DEPOSITORY FINANCIAL INSTITUTIONS. ADDITIONALLY, EACH YEAR, THE CSBS EDUCATION FOUNDATION AWARDS SCHOLARSHIPS TO BANK AND TRUST EXAMINERS THAT ARE ENROLLED IN GRADUATE SCHOOLS FOR BANKING. THESE AWARDS ARE PARTIALLY FUNDED BY EARNINGS FROM THE PERMANENTLY RESTRICTED SAMUEL WEINROTT MEMORIAL SCHOLARSHIP FUND. 320087 0 0 THE CONFERENCE OF STATE BANK SUPERVISORS (CSBS) SHARES ITS EMPLOYEES, OFFICE SPACE AND OFFICE SUPPLIES/EQUIPMENT WITH THE CSBS EDUCATION FOUNDATION (THE FOUNDATION). AS A RESULT, CSBS ALLOCATES A PORTION OF ITS PERSONNEL AND OVERHEAD COSTS TO THE FOUNDATION THAT WAS USED TO ADVANCE THE FOUNDATION'S THREE PRIMARY AREAS OF FOCUS. HOWEVER, THE FOUNDATION DOES NOT ALLOCATE THESE COSTS TO EACH OF THE INDIVIDUAL PROGRAM SERVICES. 32401 0 364595 AGENCY ACCREDITATION PROGRAM: THE ACCREDITATION PROGRAM PROVIDES A COMPREHENSIVE REVIEW OF THE CRITICAL ELEMENTS OF A STATE REGULATORY AGENCY. THE PROGRAM ASSESSES A REGULATORY AGENCY'S ABILITY TO DISCHARGE ITS RESPONSIBILITIES THROUGH AN INVESTIGATION OF ITS ADMINISTRATION AND FINANCES, PERSONNEL POLICIES, TRAINING PROGRAMS, EXAMINATION POLICIES, SUPERVISORY PROCEDURES, AND STATUTORY POWERS. IN ESTABLISHING STANDARDS FOR STATE BANKING DEPARTMENTS, MORTGAGE, AND MONEY SERVICE BUSINESS REGULATORY AGENCIES, THE CSBS EDUCATION FOUNDATION IS SUPPORTING PUBLIC INTEREST GOALS BY IDENTIFYING HIGHLY COMPETENT STATE BANKING, MORTGAGE, AND MONEY SERVICE BUSINESS REGULATORY AGENCIES AND STRENGTHENING THE CAPABILITIES OF ALL DEPARTMENTS AND AGENCIES. 32401 0 364595 2552702 1 1 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 33 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 13 13 0 0 0 0 0 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X CSBS 2022962840 1300 I STREET NW 700 WASHINGTON DC 20005 JAMES COOPER SECRETARY, PRESIDENT/CEO (THRU 12/23) 3.00 37.50 X X 70075 875940 102554 KEVIN QUINN SVP, ENTERPRISE INFRASTRUCTURE 3.00 37.50 X 26323 329030 283075 NGOC VU CHIEF INFORMATION OFFICER 3.00 37.50 X 34546 431826 87728 MARGARET LIU EVP, STRATEGIC ENGAGEMENT 3.00 37.50 X 31701 396264 88319 KELLY HAIRE EVP, PEOPLE OPERATIONS 3.00 37.50 X 28627 357846 84451 TODD SCHARF SR CHIEF INFORMATION SECURITY 3.00 37.50 X 28054 350671 58706 LEILA GREEN EVP AND CFO, FINANCE AND OFFICE OPS 3.00 37.50 X 26467 330834 74229 KRIS ROWLEY CHIEF DATA OFFICER 3.00 37.50 X 24612 307647 69671 BRIDGET PLITT SENIOR VICE PRESIDENT, LEARNING & DEVELOPMENT 37.50 3.00 X 24755 309443 60524 BRANDON MILHORN PRESIDENT AND CEO (AS OF 12/23) 37.50 3.00 X 3987 49841 147 SUSANNAH MARSHALL CHAIR 1.00 3.00 X X 0 0 0 KELLY LAMMERS IMMEDIATE PAST CHAIR 1.00 3.00 X X 0 0 0 INGRID WHITE VICE CHAIR 1.00 0.00 X X 0 0 0 ROSHUNDA KELLY TREASURER (AS OF 6/23) 1.00 3.00 X X 0 0 0 TONY SALAZAR TREASURER (THRU 5/23) 1.00 3.00 X X 0 0 0 TOM FITE CSBS IMMEDIATE PAST CHAIR (AS OF 6/23) 1.00 3.00 X 0 0 0 MARTY LAMB CERTIFICATION COMM. CHAIR 1.00 0.00 X 0 0 0 MELISSA SNEED PERFORMANCE STANDARDS COMMITTEE CHAIR 1.00 0.00 X 0 0 0 CHRIS ROMANO CONTENT DEV. AND OVERSIGHT COMM CHAIR 1.00 0.00 X 0 0 0 PATTI PERKINS TRUSTEE 1.00 0.00 X 0 0 0 TOD TRULOVE TRUSTEE 1.00 0.00 X 0 0 0 MARILYN DAVIS TRUSTEE 1.00 0.00 X 0 0 0 WENDY RODRIQUEZ TRUSTEE 1.00 0.00 X 0 0 0 MARK HASTIE TRUSTEE 1.00 0.00 X 0 0 0 STEPHEN GORDON TRUSTEE 1.00 0.00 X 0 0 0 299147 3739342 909404 0 0 1 0 HYATT REGENCY PHOENIX 122 NORTH 2ND STREET PHOENIX AZ 85004 2023 NMLS CONFERENCE HOTEL 276113 AVENTURA CATERING 100 NORTH THIRD STREET PHOENIX AZ 85004 2023 NMLS CONFERENCE CATERING 201095 WDCO NYC MARTINIQUE HOTEL LLC 49 WEST 32 STREET NEW YORK NY 10001 2023 SUPERVISORY SYMPOSIUM VENUE 193568 CHAINALYSIS INC 228 PARK AVENUE SOUTH 23474 NEW YORK NY 10003 TRAINING COURSE PROVIDER 160500 DAVID MICHAEL PRODUCTIONS INC 1340 INTERNATIONAL PARKWAY STE 100 WOODBRIDGE IL 60517 NMLS CONFERENCE AV 158660 7 1705017 1705017 EDUCATION PROGRAMS 611600 1890033 1890033 ACCREDITATION FEES 611710 354414 354414 PUBLICATION REVENUE 513190 11507 11507 2255954 65156 65156 4026127 2255954 0 65156 X 21000 21000 192923 192923 688753 688753 208248 208248 2406 2406 934 934 454017 289877 164140 143723 81595 62128 97344 22544 74800 57515 54545 2970 57842 57842 337463 305138 32325 1451768 1437139 14629 ALLOC OVERHEAD OF CSBS 320087 320087 DUES/SUBSCRIPTIONS/REGI 42316 160 42156 TRAINING AND DEVELOPMEN 30604 30604 ACCREDITATION EXPENSES 20617 20617 15147 15147 4142707 2552702 1590005 0 1031172 1004382 175906 167491 200402 254102 393606 393606 0 0 2028165 2208964 1095089 325971 4530734 3960910 316567 264248 335230 792900 975175 0 1626972 1057148 X 2892624 2892624 11138 11138 2903762 2903762 4530734 3960910 -116580 116580 0 X X 0 1 X 1 0 X 2454327 1792495 1264026 1299542 1705017 8515407 1901245 1422764 1045460 1566852 2255954 8192275 4355572 3215259 2309486 2866394 3960971 16707682 2454327 1792495 1264026 1299542 1705017 8515407 146665 12926 19895 154923 223271 557680 2600992 1805421 1283921 1454465 1928288 9073087 7634595 54467 38037 54223 50022 65156 261905 54467 38037 54223 50022 65156 261905 4410039 3253296 2363709 2916416 4026127 16969587 0.44990 0.43950 0.01540 0.01480 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 15785 3 300 15488 15783 2 15785 15830 2 49 15783 15829 1 0 15830 15839 5 15 15829 0.00000 1.00000 0.00000 0 0 393606 393606 0 0 DUE FROM AFFILIATES 325971 325971 PART V, LINE 4: INVESTMENT EARNINGS FROM THE PERMANENTLY RESTRICTED SAMUEL WEINROTT MEMORIAL SCHOLARSHIP FUND ARE USED FOR PROVIDING SCHOLARSHIPS TO BANK EXAMINERS AT GRADUATE SCHOOLS OF BANKING. THE REMAINING AMOUNT OF SCHOLARSHIPS AWARDED ARE FUNDED FROM THE FOUNDATION'S UNRESTRICTED NET ASSETS. 1 0 0 SAM WEINROTT SCHOLARSHIPS 6 21000 PART I, LINE 2: SAM WEINROTT SCHOLARSHIPS ARE OFFERED TO QUALIFIED STATE REGULATORS TO HELP THEM PAY FOR THEIR GRADUATE BANKING PROGRAMS. 0 1 0 0 0 0 0 1 0 JAMES COOPER SECRETARY, PRESIDENT/CEO (THRU 12/23 55685 696061 12422 155278 1968 24601 4600 57500 2997 37457 77672 970897 0 0 KEVIN QUINN SVP, ENTERPRISE INFRASTRUCTURE 22400 280002 3773 47157 150 1871 2931 36643 18037 225464 47291 591137 0 0 NGOC VU CHIEF INFORMATION OFFICER 28533 356669 4750 59375 1263 15782 4046 50577 2452 30653 41044 513056 0 0 MARGARET LIU EVP, STRATEGIC ENGAGEMENT 26070 325876 4618 57725 1013 12663 3727 46584 2815 35193 38243 478041 0 0 KELLY HAIRE EVP, PEOPLE OPERATIONS 23811 297639 4117 51468 699 8739 3454 43179 2801 35017 34882 436042 0 0 TODD SCHARF SR CHIEF INFORMATION SECURITY 23873 298416 3961 49509 220 2746 2933 36667 1415 17691 32402 405029 0 0 LEILA GREEN EVP AND CFO, FINANCE AND OFFICE OPS 22127 276585 3952 49400 388 4849 3144 39300 2354 29431 31965 399565 0 0 KRIS ROWLEY CHIEF DATA OFFICER 21140 264245 3322 41531 150 1871 2933 36667 2227 27844 29772 372158 0 0 BRIDGET PLITT SENIOR VICE PRESIDENT, LEARNING & DE 21295 266190 3343 41792 117 1461 2325 29057 2159 26983 29239 365483 0 0 PART I, LINE 3 CONFERENCE OF STATE BANK SUPERVISORS, A RELATED TAX EXEMPT ORGANIZATION, UTILIZED A COMPENSATION COMMITTEE, INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE BOARD AND COMPENSATION COMMITTEE TO ESTABLISH CSBS EDUCATION FOUNDATION'S PRESIDENT AND CEO'S COMPENSATION. PART I, LINE 4B BRANDON MILHORN, PRESIDENT AND CEO, BEGAN PARTICIPATING IN A NONQUALIFIED DEFERRED COMPENSATION PLAN UNDER SECTION 457(F) IN 2023. THERE WERE NO DEFINED BENEFIT ACCRUALS INTO THE PLAN OR DISTRIBUTIONS FROM THE PLAN IN 2023. PART I, LINE 7 CSBS EDUCATION FOUNDATION PROVIDES NON-FIXED INCENTIVE COMPENSATION PAYMENTS TO THEIR EMPLOYEES. LEADERSHIP ENGAGES IN MAKING INCENTIVE COMPENSATION PAYMENT RECOMMENDATIONS BASED ON LEADERSHIP'S ASSESSMENT OF THE INDIVIDUAL EMPLOYEES PERFORMANCE AND OVERALL CONTRIBUTION DURING THE YEAR. FORM 990, PART VI, SECTION A, LINE 7A CSBS EDUCATION FOUNDATION'S BOARD OF TRUSTEES ARE SELECTED AND APPOINTED ANNUALLY BY THE BOARD CHAIRMAN OF THE CONFERENCE OF STATE BANK SUPERVISORS, INC., A RELATED TAX-EXEMPT ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 7B CSBS EDUCATION FOUNDATION'S ANNUAL PLAN AND BUDGET, ALONG WITH AMENDMENTS TO ITS BYLAWS, REQUIRE APPROVAL BY THE BOARD OF DIRECTORS OF THE CONFERENCE OF STATE BANK SUPERVISORS, INC., A RELATED TAX-EXEMPT ORGANIZATION. FORM 990, PART VI, SECTION B, LINE 11B CSBS EDUCATION FOUNDATION'S MANAGEMENT TEAM REVIEWS THE FORM 990 PRIOR TO FILING WITH THE INTERNAL REVENUE SERVICE. IN ADDITION, THE FORM 990 IS POSTED TO THE BOARD OF TRUSTEE'S BOARD PORTAL FOR THEIR REVIEW. FORM 990, PART VI, SECTION B, LINE 12C A REVISED CONFLICT OF INTEREST POLICY WAS ADOPTED IN DECEMBER 2023 COVERING CONFERENCE OF STATE BANK SUPERVISORS (CSBS) AND ITS AFFILIATED ORGANIZATIONS, CSBS EDUCATION FOUNDATION (THE FOUNDATION) AND STATE REGULATORY REGISTRY (SRR). THIS POLICY REFERS TO THESE THREE AFFILIATED ORGANIZATIONS COLLECTIVELY AS CSBS. AS PART OF THE POLICY, EACH YEAR ALL CSBS EMPLOYEES, MEMBERS OF THE BOARD OF DIRECTORS, AND MEMBERS OF COMMITTEES WITH GOVERNING BOARD DELEGATED POWERS ARE REQUIRED TO SIGN A STATEMENT THAT THEY HAVE READ AND UNDERSTAND THE POLICY, THAT THEY AGREE TO COMPLY WITH THE POLICY AND DICLOSE ANY POTENTIAL CONFLICTS OF INTEREST. EACH FORM IS REVIEWED BY THE CSBS GENERAL COUNSEL TO DETERMINE IF ANY FINANCIAL INTERESTS ARE POTENTIAL CONFLICTS OF INTEREST. POTENTIAL CONFLICTS FOR CSBS EMPLOYEES ARE REVEIWED BY THE CHIEF EXECUTIVE OFFICER AND IF THE POTENTIAL CONFLICT IS GREATER THAN $5,000, THE CSBS AUDIT COMMITTEE WILL ALSO BE CONSULTED. EACH POTENTIAL CONFLICT RELATED TO A MEMBER OF THE BOARD OF DIRECTORS OR COMMITTEE WITH GOVERNING BOARD DELEGATED POWERS WILL BE SUBMITTED TO AND REVIEWED BY THE CHAIRMAN OF THE BOARD (OR IN THE CASE WHERE THE CONFLICT INVOLVES THE CHAIRMAN OF THE BOARD, THE VICE CHAIRMAN) OF THE RESPECTIVE ORGANIZATION, THE CHIEF EXECUTIVE OFFICER, AND THE PRESIDENT OF THE RESPECTIVE ORGANIZATION OR AFFILIATE (IF DIFFERENT). FORM 990, PART VI, SECTION B, LINE 15 CSBS EDUCATION FOUNDATION DOES NOT HAVE ITS OWN EMPLOYEES; INSTEAD, EMPLOYEES OF THE CONFERENCE OF STATE BANK SUPERVISORS (CSBS) ARE CONTRACTED OUT TO WORK ON FOUNDATION ACTIVITIES, AND THE FOUNDATION REIMBURSES CSBS FOR THESE EMPLOYEES AT COST. THUS, EMPLOYEES WORKING ON FOUNDATION ACTIVITIES ARE SUBJECT TO CSBS' FORMAL POLICY FOR DETERMINING COMPENSATION, WHICH STATES THAT THE PROCESS FOR DETERMINING THE COMPENSATION OF ITS OFFICERS AND KEY EMPLOYEES SHALL INCLUDE (1) REVIEW AND APPROVAL BY THE FINANCE, COMPENSATION, AND BENEFITS COMMITTEE OF CSBS, (2) USE OF DATA AS TO COMPARABLE COMPENSATION, AND (3) CONTEMPORANEOUS DOCUMENTATION AND RECORDKEEPING. THE FINANCE, COMPENSATION AND BENEFITS COMMITTEE OF THE CSBS BOARD OF DIRECTORS HAS BEEN ESTABLISHED IN THE CSBS BYLAWS AS A STANDING COMMITTEE, WHICH DEFINES THAT THE COMMITTEE IS RESPONSIBLE FOR REVIEWING THE ANNUAL BUDGET AND ESTABLISHING THE INVESTMENT AND GENERAL COMPENSATION AND BENEFITS POLICIES FOR RECOMMENDATION TO THE BOARD OF DIRECTORS FOR APPROVAL. THE CSBS FINANCE, COMPENSATION, AND BENEFITS COMMITTEE COMPLETED THEIR LAST REVIEW IN JULY 2020. THE CHIEF EXECUTIVE OFFICER'S CONTRACT (INCLUDING COMPENSATION) WAS VOTED AND APPROVED BY THE FULL BOARD OF DIRECTORS IN NOVEMBER 2023. FORM 990, PART VI, SECTION C, LINE 19 NO DOCUMENTS AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G EDUCATION AND TRAINING CONSULTANTS: PROGRAM SERVICE EXPENSES 289,877. MANAGEMENT AND GENERAL EXPENSES 164,140. FUNDRAISING EXPENSES 0. TOTAL EXPENSES 454,017. FORM 990, PART XII, LINE 2C: THE ORGANIZATION'S OVERSIGHT AND SELECTION PROCESS HAS NOT CHANGED FROM THE PRIOR TAX YEAR. CONFERENCE OF STATE BANK SUPERVISORS INC 1300 I STREET NW 700 E WASHINGTON DC 20005 522080072 SUPPORT LEADERSHIP ROLE OF STATE BANKING SUPERVISORS DC 501(C)(3) LINE 10 N/A 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 CONFERENCE OF STATE BANK SUPERVISORS INC C 1705017 COST CONFERENCE OF STATE BANK SUPERVISORS INC N 377929 ALLOCATION CONFERENCE OF STATE BANK SUPERVISORS INC O 1089924 ALLOCATION