2024-09-10T16:32:33-05:00 2023-12-31 352123203 KSM BUSINESS SERVICES INC PO BOX 40857 INDIANAPOLIS IN 46240 990 2023-01-01 350837318 INDIANA COMPENSATION RATING BUREAU INDI 3178422800 5920 CASTLEWAY WEST DRIVE 121 INDIANAPOLIS IN 46250 PAUL KEATHLEY PRESIDENT 3178422800 2024-08-22 1 1 CASSE TATE P01271193 3175802000 2024-08-22 2023 2024-08-08 14:25:15Z PAUL KEATHLEY 5920 CASTLEWAY WEST DRIVE 121 INDIANAPOLIS IN 46250 2739998 0 X WWW.ICRB.NET X 1935 IN TO REGULATE WORKER COMPENSATION RATES IN THE STATE OF INDIANA. 10 10 9 12 0 0 0 0 3585076 2739998 0 0 0 0 3585076 2739998 0 0 0 0 1429588 1307719 0 0 0 1339065 1513440 2768653 2821159 816423 -81161 2458743 2302336 514755 439509 1943988 1862827 TO REGULATE WORKER COMPENSATION RATES IN THE STATE OF INDIANA. 0 0 THE ICRB GATHERS INFORMATION FROM ITS MEMBER COMPANIES TO ESTABLISH FAIR AND ADEQUATE ADVISORY RATES. THIS INFORMATION IS THEN SUBMITTED TO THE INDIANA DEPARTMENT OF INSURANCE FOR REVIEW AND THEN DISTRIBUTED TO ALL MEMBER COMPANIES. IN ADDITION TO THE DATA-COLLECTION AND RATEMAKING FUNCTIONS, THE ICRB IS RESPONSIBLE FOR VARIOUS WORKERS COMPENSATION PROGRAMS INCLUDING RULES PROMULGATION, EXPERIENCE RATING, INSPECTION AND CLASSIFICATION, ASSIGNED-RISK ADMINISTRATION, INDUSTRY EDUCATION AND DISPUTE RESOLUTION. 0 0 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 9 0 1 9 1 0 0 0 0 0 0 0 0 X 10 10 0 0 0 0 0 0 0 1 1 0 0 0 1 0 1 0 0 1 1 0 IN X PAUL KEATHLEY 3178422800 5920 CASTLEWAY WEST DRIVE SUITE 121 INDIANAPOLIS IN 46250 SCOTT LEREW VICE PRESIDENT 40.00 X X 47514 0 3182 IRA FEUERLICHT AMER HOME ASSUR CO CHAIRPERSON 2.00 X X 0 0 0 FRANK BAKER EASTERN ALLIANCE INS VICE CHAIRPERSON 2.00 X X 0 0 0 EDWIN HERRERA LIBERTY MUTUAL GROUP GOVERNING BOARD MEMBER 0.30 X 0 0 0 ROB SMITH FCCI INS GROUP GOVERNING BOARD MEMBER 0.30 X 0 0 0 LINDSAY LADIN TRAVELERS INDEMINITYC GOVERNING BOARD MEMBER 0.30 X 0 0 0 SCOTT MACWILLIAM INDIANA FARMERS IN GOVERNING BOARD MEMBER 0.30 X 0 0 0 KEITH GUCCIONE ICW GROUP GOVERNING BOARD MEMBER 0.30 X 0 0 0 RICK COSENZA WESTFIELD INSURANCE C GOVERNING BOARD MEMBER 0.30 X 0 0 0 SCOTT DAHLAGER OLD REPUBLIC GOVERNING BOARD MEMBER 0.30 X 0 0 0 ALLISON SIDNAM ACCIDENT FUND INS CO GOVERNING BOARD MEMBER 0.30 X 0 0 0 CRAIG EVANS INDIANA FARMERS INS GOVERNING BOARD MEMBER 0.30 X 0 0 0 MICHAEL NUNNEY WESTFIELD INSURANCE GOVERNING BOARD MEMBER 0.30 X 0 0 0 KAREN BYRD THRU APRIL 2023 PRESIDENT 40.00 X 106912 0 23533 PAUL KEATHLEY BEG SEP 2023 PRESIDENT 40.00 X 196119 0 89516 JENNIFER COX FINANCE DIRECTOR 40.00 X 109958 0 21293 460503 0 137524 3 0 1 0 0 ASSESSMENT REVENUE 541900 2739998 2739998 2739998 2739998 2739998 0 0 598028 392051 129475 126367 61798 126792 25300 153846 21322 79539 76387 24600 8158 23628 66527 NCCI FEES 665000 COMPSCOPE STUDY 195000 DUES AND SUBSCRIPTIONS 16386 EQUIPMENT RENTAL & MAIN 10508 20447 2821159 2023469 1932639 442240 374989 87420 67251 347854 302446 2458743 2302336 141925 189178 372830 250331 514755 439509 X 1943988 1862827 1943988 1862827 2458743 2302336 -81161 0 X X 0 1 X 1 0 0 1 0 442240 374989 67251 67251 RIGHT OF USE ASSET 302446 302446 OPERATING LEASE LIABILITY 250331 250331 X 2707811 0 2707811 32187 32187 2739998 2788972 0 2788972 32187 32187 2821159 PART X, LINE 2: THE BUREAU IS EXEMPT FROM FEDERAL AND STATE INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE THOUGH IT IS SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE INTERNAL REVENUE CODE. THERE WAS NO UNRELATED BUSINESS INCOME FOR 2023 AND 2022. THE BUREAU FILES U.S. FEDERAL AND STATE OF INDIANA INFORMATION TAX RETURNS. THE BUREAU IS NO LONGER SUBJECT TO U.S. FEDERAL AND STATE INCOME TAX EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2020. MANAGEMENT BELIEVES THAT THE BUREAU'S INCOME TAX FILING POSITIONS WILL BE SUSTAINED ON AUDIT AND DOES NOT ANTICIPATE ANY ADJUSTMENTS THAT WILL RESULT IN MATERIAL CHANGE. PART XI, LINE 4B - OTHER ADJUSTMENTS: INCOME RECLASSIFICATION 32,187. PART XII, LINE 4B - OTHER ADJUSTMENTS: INCOME RECLASSIFICATION 32,187. 1 X X X X 0 0 0 PAUL KEATHLEY BEG SEP 2023 PRESIDENT 196119 0 0 0 0 0 37428 0 52088 0 285635 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT REVIEWS FORM 990 NOTING POTENTIAL ERRORS, INCONSISTENCIES, AND AREAS FOR POTENTIAL IMPROVEMENT. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY ALL EMPLOYEES, INCLUDING OFFICERS, MUST REVIEW OUR EMPLOYEE HANDBOOK, WHICH CONTAINS OUR CONFLICT OF INTEREST POLICY, AND SIGN AN ASSOCIATE HANDBOOK ACKNOWLEDGEMENT FORM. IF A CONFLICT OF INTEREST ARISES, MANAGEMENT WILL LOOK AT EACH CASE INDIVIDUALLY AND DECIDE ON AN APPROPRIATE RESOLUTION. FORM 990, PART VI, SECTION B, LINE 15 THE PRESIDENT'S COMPENSATION IS DETERMINED BY THE BOARD OF DIRECTORS USING COMPARABILITY DATA AND OTHER INFORMATION. ALL OTHER COMPENSATION IS DETERMINED THROUGH AN OUTSIDE HUMAN RESOURCES CONSULTING FIRM, WHO IS ENGAGED TO DETERMINE THE APPROPRIATE OVERALL PERCENTAGE RAISE. THE MANAGEMENT TEAM THEN ALLOCATES THE DETERMINED PERCENTAGE TO EACH EMPLOYEE BASED ON THE MANAGEMENT TEAM'S DISCRETION. FORM 990, PART VI, SECTION C, LINE 18 ALL DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART VI, SECTION C, LINE 19 THE FINANCIAL STATEMENTS ARE AVAILABLE ON THE COMPANY WEBSITE, WWW.ICRB.NET. ALL OTHER RELATED DOCUMENTS ARE AVAILABLE UPON REQUEST. FORM 990, PART XII, LINE 2C THE AUDIT REVIEW PROCESS HAS NOT CHANGED FROM PRIOR YEAR.