2024-10-07T08:29:12-05:00 2023-12-31 420714325 RSM US LLP 30 SOUTH 17TH STREET SUITE 710 PHILADELPHIA PA 19103 990 2023-01-01 222937521 EXCESS LINE ASSOCIATION OF NEW YORK EXCE 6462925575 120 WALL STREET 24TH FLOOR NEW YORK NY 10005 JANET PANE EXECUTIVE DIRECTOR 6462925575 2024-09-19 1 0 MICHELLE O'NEILL P01372721 2157654600 2024-09-19 2023 2024-10-15 13:58:12Z JANET PANE 120 WALL STREET 24TH FLOOR NEW YORK NY 10005 20856907 0 X WWW.ELANY.ORG X 1988 NY AN INSURANCE ADVISORY ASSOCIATION CHARGED WITH THE DUTY TO FACILITATE AND ENCOURAGE COMPLIANCE WITH THE EXCESS LINE LAW. 9 9 51 12 0 0 0 0 13489168 12925683 372435 1181224 0 0 13861603 14106907 100000 100000 0 0 5281074 6458161 0 0 0 4892375 5393853 10273449 11952014 3588154 2154893 44875801 47244587 9407202 9295490 35468599 37949097 X THE EXCESS LINE ASSOCIATION OF NEW YORK WAS CREATED BY STATUTE IN 1988 AND BEGAN BUSINESS IN 1989. IT IS A NON PROFIT INDUSTRY ADVISORY ASSOCIATION. ELANY IS CHARGED WITH THE DUTY TO FACILITATE AND ENCOURAGE COMPLIANCE WITH THE EXCESS LINE LAW. THE ASSOCIATION REVIEWS, RECORDS AND STAMPS EXCESS LINE INSURANCE DOCUMENTS REQUIRED TO BE SUBMITTED UNDER NEW YORK'S INSURANCE LAW. 0 0 THE ASSOCIATION REVIEWS, RECORDS AND STAMPS EXCESS LINE INSURANCE DOCUMENTS REQUIRED TO BE SUBMITTED UNDER NEW YORK INSURANCE LAW. 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 13 0 1 51 1 0 0 0 0 0 0 0 0 X 9 9 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 0 0 NY X ADRIANE BRINGE 6462925575 120 WALL STREET 24TH FLOOR NEW YORK NY 10005 X JANET PANE EXECUTIVE DIRECTOR (AS OF 6/12/23) 40.00 0.00 X X 296164 0 1015 JOSEPH F CALIGIURI DIRECTOR 1.00 0.00 X 0 0 0 GARY HOLLEDERER DIRECTOR 1.00 0.00 X 0 0 0 JO ANN PERI DIRECTOR 1.00 0.00 X 0 0 0 DONALD PRIVETT DIRECTOR 1.00 0.00 X 0 0 0 DENISE SANCHEZ DIRECTOR 1.00 0.00 X 0 0 0 ROBERT SHAPIRO DIRECTOR 1.00 0.00 X 0 0 0 JAMES RICHARDSON IMMEDIATE PAST CHAIRMAN 1.00 0.00 X 0 0 0 ERIC KELLER CHAIRMAN 1.00 0.00 X X 0 0 0 MICHAEL BLACKSHEAR VICE CHAIRMAN 1.00 0.00 X X 0 0 0 JOHN A BUCKLEY TREASURER 1.00 0.00 X X 0 0 0 LANCE BECKER SECRETARY 1.00 0.00 X X 0 0 0 DANIEL F MAHER SENIOR ADVISOR 40.00 0.00 X 548214 0 122735 HOWARD GREENE - DIR OF GOVT AFFAIRS & STRATEGIC INITIATIVES 40.00 0.00 X 266557 0 29646 BRIAN PERSAUD DIR OF INFORMATION TECHNOLOGY 40.00 0.00 X 225624 0 65802 THERESA HETHERINGTON STAMPING OFFICE MANAGER 40.00 0.00 X 169337 0 49468 BENEDICT BARDEGUEZ PC ANALYST/HELPDESK 40.00 0.00 X 182068 0 59806 IVAN RODRIGUEZ PC ANALYST/HELPDESK 40.00 0.00 X 162337 0 50272 ALEX SARFO FINANCIAL DIRECTOR 40.00 0.00 X 140114 0 51697 JILLIAN MAXWELL HUMAN RESOURCES MANAGER 40.00 0.00 X 130838 0 51375 ADRIANE BRINGE ACCOUNTING MANAGER 40.00 0.00 X 130530 0 51636 2251783 0 533452 15 0 1 0 NANCY BORN 65 NORTH DRIVE COPIAGUE NY 10005 OPERATIONS CONSULTANT 131403 1 STAMPING FEES 900099 12925683 12925683 12925683 1181224 1181224 6750000 6750000 0 14106907 12925683 0 1181224 100000 1774562 3460992 135108 738706 348793 19042 59825 90200 12054 295994 143827 2158737 665407 135350 526418 533464 124862 MEMBERS' EDUCATION 242797 DUES AND SUBSCRIPTIONS 123214 JANITORIAL SERVICES 95282 REPAIRS AND MAINTENANCE 94148 73232 11952014 1822513 779649 11171065 9143543 1299903 1327309 319022 439869 12314951 9548325 3256728 2766626 19759447 25835052 7247123 6952539 44875801 47244587 450406 876518 8956796 8418972 9407202 9295490 X 35468599 37949097 35468599 37949097 44875801 47244587 2154893 325605 0 X 0 1 X 1 0 3510565 1072611 2437954 7674685 7498562 176123 1129701 977152 152549 2766626 DEFERRED COMPENSATION 781488 SECURITY DEPOSIT 5838 ARTWORK 25251 ACCRUED INTEREST RECEIVEABLE 165076 LINE OF CREDIT 341196 RIGHT OF USE ASSET 5633690 6952539 DEFERRED COMPENSATION 781637 LEASE LIABILITY 7637335 8418972 X 14432512 325605 325605 14106907 0 14106907 11952014 0 11952014 0 11952014 PART X, LINE 2: THE ASSOCIATION IS CLASSIFIED AS A NONPROFIT ASSOCIATION UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE AND, ACCORDINGLY, IS EXEMPT FROM INCOME TAXES. THE ASSOCIATION RECOGNIZES AND MEASURES ITS UNRECOGNIZED TAX BENEFITS IN ACCORDANCE WITH FASB ASC 740, INCOME TAXES. UNDER THAT GUIDANCE, THE ASSOCIATION ASSESSES THE LIKELIHOOD, BASED ON THEIR TECHNICAL MERIT, THAT TAX POSITIONS WILL BE SUSTAINED UPON EXAMINATION BASED ON THE FACTS, CIRCUMSTANCES AND INFORMATION AVAILABLE AT THE END OF EACH PERIOD. THE MEASUREMENT OF UNRECOGNIZED TAX BENEFITS IS ADJUSTED WHEN NEW INFORMATION IS AVAILABLE OR WHEN AN EVENT OCCURS THAT REQUIRES A CHANGE. MANAGEMENT EVALUATED THE ASSOCIATION'S TAX POSITIONS FOR ALL OPEN YEARS AND HAS CONCLUDED THAT THE ASSOCIATION HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS TO COMPLY WITH THE PROVISIONS OF THIS GUIDANCE. 1 INSURANCE INDUSTRY CHARITABLE FOUNDATION 1999 AVENUE OF THE STARS SUITE 1100 LOS ANGELES CA 90067 201240972 501(C)(3) 15000 0 INSURANCE INDUSTRY CHARITABLE ORGANIZATION SHELTERBOX USA 101 INNOVATION PLACE SANTA BARBARA CA 93108 200471604 501(C)(3) 15000 0 HUMANITARIAN RELIEF EARTHQUAKES IN TURKEY FEEDING WESTCHESTER INC 200 CLEARBROOK ROAD ELMSFORD NY 10523 133507988 501(C)(3) 15000 0 VICTIM RELIEF NEW YORK FLOODS HAWAII COMMUNITY FOUNDATION 827 FORT STREET MALL HONOLULU HI 96813 990261283 501(C)(3) 15000 0 VICTIM RELIEF MAUI WILDFIRES ANERA 1111 14TH STREET NW 400 WASHINGTON DC 20005 520882226 501(C)(3) 10000 0 HUMANITARIAN AID VICTIMS OF ISRAEL-HAMAS WAR ISRA AID US GLOBAL HUMANITARIAN ASSISTANCE INC PO BOX 61227 PALO ALTO CA 94306 462118225 501(C)(3) 10000 0 HUMANITARIAN AID VICTIMS OF ISRAEL-HAMAS WAR VOLUNTEER FLORIDA FOUNDATION INC 1545 RAYMOND DIEHL ROAD 250 TALLAHASSEE FL 32308 010973168 501(C)(3) 15000 0 VICTIM RELIEF, HURRICANE IDALIA 7 0 PART I, LINE 2: THE ORGANIZATION GIVES GRANTS OVER $5,000 TO ORGANIZATIONS THAT ARE RECOGNIZED AS EXEMPT BY THE IRS UNDER 501(C)(3). THE EXECUTIVE DIRECTOR PROPOSES THE GRANT FUNDS IN THE U.S., AND THE BOARD APPROVES GRANT FUNDS AWARDED TO THE ORGANIZATIONS. X X 1 1 X 0 1 0 DANIEL F MAHER SENIOR ADVISOR 398077 0 150000 0 137 0 71400 0 51335 0 670949 0 0 0 JANET PANE EXECUTIVE DIRECTOR (AS OF 6/12/23) 296153 0 0 0 11 0 0 0 1015 0 297179 0 0 0 HOWARD GREENE - DIR OF GOVT AFFAIRS & STRATEGIC INITIATIVES 254420 0 12000 0 137 0 21530 0 8116 0 296203 0 0 0 BRIAN PERSAUD DIR OF INFORMATION TECHNOLOGY 205487 0 20000 0 137 0 37330 0 28472 0 291426 0 0 0 BENEDICT BARDEGUEZ PC ANALYST/HELPDESK 164418 0 17650 0 0 0 14827 0 44979 0 241874 0 0 0 THERESA HETHERINGTON STAMPING OFFICE MANAGER 159200 0 10000 0 137 0 32864 0 16604 0 218805 0 0 0 IVAN RODRIGUEZ PC ANALYST/HELPDESK 150037 0 12300 0 0 0 13237 0 37035 0 212609 0 0 0 ALEX SARFO FINANCIAL DIRECTOR 134977 0 5000 0 137 0 11604 0 40093 0 191811 0 0 0 JILLIAN MAXWELL HUMAN RESOURCES MANAGER 122701 0 8000 0 137 0 10606 0 40769 0 182213 0 0 0 ADRIANE BRINGE ACCOUNTING MANAGER 122393 0 8000 0 137 0 10880 0 40756 0 182166 0 0 0 PART I, LINE 1A IN SOME INSTANCES, THE ORGANIZATION PROVIDES FIRST-CLASS TRAVEL FOR THE EXECUTIVE DIRECTOR TO TRADE ASSOCIATION FUNCTIONS. THE ORGANIZATION ALSO PROVIDES TRAVEL FOR COMPANIONS TO ALL OFFICERS, DIRECTORS, AND SENIOR MANAGEMENT FOR TRAVEL TO THE ANNUAL BOARD MEETING. THESE BENEFITS ARE NOT TAXABLE COMPENSATION TO THESE INDIVIDUALS. PART I, LINE 4B THE FOLLOWING EMPLOYEE PARTICIPATED IN A NON-QUALIFIED SUPPLEMENTAL EMPLOYEE RETREMENT PLAN (SERP), WHICH WAS ESTABLISHED UNDER SECTION 457(F) OF THE IRC. DANIEL F. MAHER - EXECUTIVE DIRECTOR THE AMOUNT CONTRIBUTED DURING 2023 WAS $22,500. THE ORGANIZATION ESTABLISHED THE SERP FOR THE EXECUTIVE DIRECTOR EFFECTIVE JANUARY 1, 2022. THE ORGANIZATION SHALL CREDIT AN ANNUAL CONTRIBUTION TO THE EXECUTIVE DIRECTOR'S DEFERRED COMPENSATION ACCOUNT EFFECTIVE AS OF JANUARY 1, 2022 AND ON EACH JANUARY 1 THEREAFTER THROUGH AND INCLUDING 2023 IF THE EXECUTIVE IS EMPLOYED BY ELANY ON SUCH JANUARY 1. ELANY SHALL CREDIT THE EXECUTIVE'S DEFERRED COMPENSATION ACCOUNT WITH EARNING OR LOSSES, IF ANY, ON SUCH PERIODIC BASIS AS DETERMINED BY THE PLAN ADMINISTRATOR. THE EXECUTIVE SHALL HAVE NO INTEREST IN OR ENTITLEMENT TO PAYMENT OF ANY CLASS YEAR BENEFIT UNTIL THE EARLIEST TO OCCUR OF THE FOLLOWING EVENTS: I. THE EXECUTIVE INCURS A DISABILITY WHILE EMPLOYED BY ELANY; II. THE EXECUTIVE DIES WHILE EMPLOYED BY ELANY; III. TERMINATION OF THE EXECUTIVE'S EMPLOYMENT BY ELANY DUE TO THE LEGISLATIVE SUNSET OF ELANY OR FOR ANY REASON OTHER THAN CAUSE; OR IV. JANUARY 1, 2024 NANCY BORN FORMER KEY EMPLOYEE 131403 INDEPENDENT CONTRACTOR AGREEMENT 0 SCHEDULE L, PART IV, COLUMN D: NANCY IS AN OPERATIONS CONSULTANT. SHE PARTICIPATES IN MANAGEMENT MEETINGS, MEETINGS WITH ELANY VENDORS, COMMUNICATES AND GUIDES CURRENT ELANY MANAGERS PARTICULARLY WITH REGARD TO HUMAN RESOURCE SERVICES, BENEFITS MANAGEMENT, ACCOUNTING MATTERS, REGULATORY REPORTING, STAMPING OFFICE MANAGEMENT AND SERVICES AND IT PROJECTS. FORM 990, PART VI, SECTION A, LINE 6 ANY CORPORATION, PARTNERSHIP OR INDIVIDUAL LICENSED AS AN EXCESS LINE BROKER UNDER SECTION 2105 OF THE NEW YORK INSURANCE LAW SHALL BE DEEMED A MEMBER OF THE ASSOCIATION. MEMBERS THAT ARE ORGANIZED AS CORPORATIONS OR PARTNERSHIPS SHALL PROVIDE THE ASSOCIATION, IN WRITING, WITH THE NAME OF AN OFFICER, PARTNER OR EMPLOYEE WHO SHALL BE AUTHORIZED TO EXERCISE ALL POWERS, RIGHTS, AND RESPONSIBILITIES OF THOSE MEMBERS INCLUDING, BUT NOT LIMITED TO, THE RIGHTS TO VOTE AND TO SERVE AS A DIRECTOR. FORM 990, PART VI, SECTION A, LINE 7A THE CHAIRMAN OF THE BOARD SHALL APPOINT A NOMINATING COMMITTEE, SUBJECT TO APPROVAL OF THE BOARD OF DIRECTORS, AT LEAST 90 DAYS BEFORE THE ANNUAL MEETING, TO NOMINATE MEMBERS TO FILL THE EXPIRING TERMS OF DIRECTORS. THE RECOMMENDATIONS OF THE NOMINATING COMMITTEE SHALL BE ANNOUNCED AT LEAST 60 DAYS BEFORE THE ANNUAL MEETING, AND ACTIVE MEMBERS SHALL BE GIVEN 10 DAYS AFTER SUCH ANNOUNCEMENT TO MAKE ADDITIONAL NOMINATIONS OF ACTIVE MEMBERS WHO HAVE SIGNIFIED THEIR WILLINGNESS TO STAND FOR ELECTION BY PETITION SUPPORTED BY NO LESS THAN 40 ACTIVE MEMBERS. BALLOTS SHALL BE MAILED TO MEMBERS AT LEAST 30 DAYS PRIOR TO THE ANNUAL MEETING INDICATING THE NOMINATIONS BY THE NOMINATING COMMITTEE AND ANY ADDITIONAL NOMINATIONS BY PETITION. THE RESULT OF THE ELECTION SHALL BE COUNTED THE DAY PRIOR TO THE ANNUAL MEETING BY TELLERS APPOINTED BY THE BOARD. FORM 990, PART VI, SECTION A, LINE 7B ANY CHANGES TO THE PLAN OF OPERATIONS MUST BE APPROVED IN ADVANCE BY THE NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS REVIEWED AND SIGNED BY THE EXECUTIVE DIRECTOR. IN ADDITION, THE FORM 990 IS PROVIDED TO THE ENTIRE BOARD BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED ANNUALLY TO THE BOARD OF DIRECTORS AND MANAGERS. EACH YEAR THE QUESTIONNAIRE IS COMPLETED AND RETURNED TO BE REVIEWED BY THE CHAIRMAN OF THE BOARD. IN THE EVENT A CONFLICT EXISTS, THE INDIVIDUAL WITH THE CONFLICT MUST RECUSE HIMSELF/HERSELF FROM ANY DELIBERATION AND VOTING REGARDING THE CONFLICT. FORM 990, PART VI, SECTION B, LINE 15A THE EXECUTIVE DIRECTOR'S COMPENSATION IS DETERMINED BY THE MEMBERS OF THE EXECUTIVE COMMITTEE, WHO PRESENT THE FINAL DETERMINATION TO THE ENTIRE BOARD. COMPENSATION OF OTHER SIMILAR POSITIONS IN SIMILARLY SIZED ORGANIZATIONS IS USED TO HELP DETERMINE THE EXECUTIVE DIRECTOR'S COMPENSATION. THE CHAIRMAN OF THE BOARD THEN NOTIFIES THE HUMAN RESOURCE MANAGER, BY EMAIL, OF ANY CHANGE IN COMPENSATION FOR CHANGES TO THE PAYROLL. A COPY OF THE EMAIL BECOMES PART OF THE EXECUTIVE DIRECTOR'S PERSONNEL FILE. FOR OTHER KEY EMPLOYEES, THE COMPENSATION DETERMINATION IS MADE BY THE EXECUTIVE DIRECTOR. FORM 990, PART VI, SECTION C, LINE 19 THE BOARD OF DIRECTORS SHALL, ONCE EACH YEAR, PROVIDE FOR AN INDEPENDENT AUDIT OF ALL THE BOOKS AND RECORDS OF THE ASSOCIATION AND A REPORT OF SUCH INDEPENDENT AUDIT SHALL BE MADE TO THE BOARD AND THE SUPERINTENDENT OF INSURANCE. COPIES OF SUCH REPORT SHALL BE MADE AVAILABLE TO EACH MEMBER TO REVIEW AT THE ASSOCIATION'S OFFICE. THE CONFLICT OF INTEREST POLICY IS NOT AVAILABLE TO THE PUBLIC. FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). FORM 990, PART VII, SECTION A: THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN PART VII, COLUMN F AND NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS.