2025-11-17T14:55:58-06:00 2024-12-31 420714325 RSM US LLP 80 CITY SQUARE BOSTON MA 02129 990 2024-01-01 222937521 EXCESS LINE ASSOCIATION OF NEW YORK EXCE 6462925575 120 WALL STREET 24TH FLOOR NEW YORK NY 10005 JANET PANE CEO/EXECUTIVE DIRECTOR 6462925575 2025-11-17 1 1 LYNNE JOHNSON P00757336 6179129000 2025-11-16 2024 2025-03-06 01:10:19Z JANET PANE 120 WALL STREET 24TH FLOOR NEW YORK NY 10005 15852762 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 52 11 0 0 0 0 12925683 14388722 1181224 1464040 0 0 14106907 15852762 100000 97500 0 0 6458161 7884238 0 0 0 5393853 6615373 11952014 14597111 2154893 1255651 47244587 48105714 9295490 8481993 37949097 39623721 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 0 0 0 0 0 0 0 0 0 0 0 1 21 0 1 52 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 JOSEPH F CALIGIURI DIRECTOR 1.00 X 0 0 0 HARRY TUCKER DIRECTOR (FROM 05/2024) 1.00 X 0 0 0 JO ANN PERI DIRECTOR 1.00 X 0 0 0 DONALD PRIVETT DIRECTOR 1.00 X 0 0 0 JAMES RICHARDSON DIRECTOR 1.00 X 0 0 0 GARY HOLLEDERER DIRECTOR (UNTIL 05/2024) 1.00 X 0 0 0 ERIC KELLER IMMEDIATE PAST CHAIRMAN (FROM 5/24, NON-VOTING) 1.00 X 0 0 0 MICHAEL BLACKSHEAR CHAIRMAN 1.00 X X 0 0 0 DENISE SANCHEZ VICE CHAIR 1.00 X X 0 0 0 JOHN A BUCKLEY TREASURER 1.00 X X 0 0 0 LANCE BECKER SECRETARY 1.00 X X 0 0 0 JANET PANE CEO/EXECUTIVE DIRECTOR 40.00 X 650974 0 79554 TARA CUMMINS CHIEF ADMINISTRATIVE OFFICER 40.00 X 291238 0 86319 BRIAN PERSAUD DIRECTOR OF INFORMATION TECHNOLOGY 40.00 X 248723 0 69444 ARLANA KEMPER DIRECTOR OF BUSINESS PROGRAMS 40.00 X 249233 0 63441 HOWARD GREENE - DIR OF GOVT AFFAIRS & STRATEGIC INITIATIVES 40.00 X 275821 0 28652 THERESA HETHERINGTON STAMPING OFFICE MANAGER 40.00 X 194515 0 53284 IVAN RODRIGUEZ PC ANALYST/HELPDESK 40.00 X 177175 0 46705 JOHN ROSENBLATT COMMUNICATIONS & MARKETING MANAGER 40.00 X 171844 0 42195 BENEDICT BARDEGUEZ PC ANALYST/HELPDESK 40.00 X 158753 0 51112 ALEX SARFO FINANCIAL DIRECTOR 40.00 X 150446 0 54718 ADRIANE BRINGE ACCOUNTING MANAGER 40.00 X 144913 0 56043 DANIEL F MAHER FORMER SENIOR ADVISOR 0.00 X 924061 0 426 NANCY BORN FORMER CAO & DIR. OF OPERATION 0.00 X 132458 0 0 3770154 0 631893 20 1 1 0 ARENTFOX SCHIFF LLP 1717 K STREET NW WASHINGTON DC 20006 LEGAL SERVICES 159656 1 STAMPING FEES 900099 14388722 14388722 14388722 1464040 1464040 15852762 14388722 0 1464040 97500 2291198 3968679 259409 899777 465175 282810 79905 9684 566012 166688 2562486 708081 252824 485349 491597 162350 MEMBERS' EDUCATION 307937 DUES AND SUBSCRIPTIONS 151752 JANITORIAL SERVICES 98617 REPAIRS AND MAINTENANCE 97406 191875 14597111 779649 1125504 9143543 8680511 1327309 1337987 439869 331723 12409328 10039923 2766626 2369405 25835052 28254025 6952539 6006559 47244587 48105714 876518 1072105 8418972 7409888 9295490 8481993 X 37949097 39623721 37949097 39623721 47244587 48105714 1255651 418973 0 X 0 1 X 1 0 3527037 1344594 2182443 7737427 7611743 125684 1144864 1083586 61278 2369405 ACCRUED INTEREST RECEIVEABLE 95231 ARTWORK 25251 DEFERRED COMPENSATION 474870 RESTRICTED CASH 348597 RIGHT OF USE ASSET 5057227 SECURITY DEPOSIT 5383 6006559 DEFERRED COMPENSATION 473020 LEASE LIABILITY 6936868 7409888 X 16271735 418973 418973 15852762 0 15852762 14597111 0 14597111 0 14597111 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 SBP INC 2645 TOULOUSE STREET NEW ORLEANS LA 70119 262189665 501(C)(3) 15000 0 VICTIM RELIEF - HURRICANE MILTON 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 ALL HANDS AND HEARTS 82 COUNTY ROAD PMB 79 MATTAPOISETT MA 02739 203414952 501(C)(3) 10000 0 VICTIM RELIEF - HURRICANE HELENE GOD'S PIT CREW 2499 NORTH MAIN STREET DANVILLE VA 24540 541974979 501(C)(3) 7500 0 VICTIM RELIEF - HURRICANE HELENE WATER MISSION 1150 MOLLY GREENE WAY BLDG 1605 NORTH CHARLESTON SC 29405 571116978 501(C)(3) 7500 0 VICTIM RELIEF - HURRICANE HELENE THE COMMUNITY FOUNDATION OF SOUTHERN NEW MEXICO 2640 EL PASEO ROAD LAS CRUCES NM 88001 850455682 501(C)(3) 7500 0 HUMANITARIAN AID - SOUTHERN NM WILDFIRES & FLOODS 6 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 X 0 1 0 DANIEL F MAHER FORMER SENIOR ADVISOR 316767 0 150000 0 457294 0 0 0 426 0 924487 0 362500 0 JANET PANE CEO/EXECUTIVE DIRECTOR 567412 0 83425 0 137 0 72600 0 6954 0 730528 0 0 0 TARA CUMMINS CHIEF ADMINISTRATIVE OFFICER 242101 0 49000 0 137 0 33876 0 52443 0 377557 0 0 0 BRIAN PERSAUD DIRECTOR OF INFORMATION TECHNOLOGY 223682 0 25000 0 41 0 40186 0 29258 0 318167 0 0 0 ARLANA KEMPER DIRECTOR OF BUSINESS PROGRAMS 199096 0 50000 0 137 0 32129 0 31312 0 312674 0 0 0 HOWARD GREENE - DIR OF GOVT AFFAIRS & STRATEGIC INITIATIVES 260684 0 15000 0 137 0 22143 0 6509 0 304473 0 0 0 THERESA HETHERINGTON STAMPING OFFICE MANAGER 178378 0 16000 0 137 0 35863 0 17421 0 247799 0 0 0 IVAN RODRIGUEZ PC ANALYST/HELPDESK 161875 0 15300 0 0 0 14447 0 32258 0 223880 0 0 0 JOHN ROSENBLATT COMMUNICATIONS & MARKETING MANAGER 158252 0 13500 0 92 0 13999 0 28196 0 214039 0 0 0 BENEDICT BARDEGUEZ PC ANALYST/HELPDESK 143603 0 15150 0 0 0 12981 0 38131 0 209865 0 0 0 ALEX SARFO FINANCIAL DIRECTOR 140405 0 10000 0 41 0 12444 0 42274 0 205164 0 0 0 ADRIANE BRINGE ACCOUNTING MANAGER 132776 0 12000 0 137 0 12096 0 43947 0 200956 0 0 0 NANCY BORN FORMER CAO & DIR. OF OPERATION 132458 0 0 0 0 0 0 0 0 0 132458 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 RETIREMENT PLAN (SERP), WHICH WAS ESTABLISHED UNDER SECTION 457(F) OF THE IRC. JANET PANE - EXECUTIVE DIRECTOR/CEO THE AMOUNT CONTRIBUTED DURING 2024 WAS $22,500. THE ORGANIZATION ESTABLISHED THE SERP FOR THE EXECUTIVE DIRECTOR, EFFECTIVE DECEMBER 1, 2023. THE ORGANIZATION SHALL CREDIT AN ANNUAL CONTRIBUTION TO THE EXECUTIVE'S DEFERRED COMPENSATION ACCOUNT EFFECTIVE AS OF DECEMBER 31, 2023, AND ON EACH DECEMBER 31 THEREAFTER IF THE EXECUTIVE IS EMPLOYED BY ELANY ON SUCH DECEMBER 31. BEGINNING IN 2024, ELANY SHALL CREDIT EACH OF THE EXECUTIVE'S ANNUAL YEAR BENEFIT ACCOUNT WITH EARNINGS OR LOSSES 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. FOR EACH PARTICULAR ANNUAL YEAR BENEFIT ACCOUNT, THE DATE DETERMINED TO SECTION 5(B) OF THE AGREEMENT. - DANIEL F. MAHER (FORMER SENIOR ADVISOR) RECEIVED DISTRIBUTIONS FROM 457(F) PLAN IN THE AMOUNT OF $45,420 DURING CALENDAR YEAR 2024. 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. FORM 990, PART VII, SECTION A: 1) THE ORGANIZATION REPORTS COMPENSATION FOR DANIEL F. MAHER WHO SERVED AS INDEPENDENT MANAGEMENT CONSULTANT DURING THE TAX YEAR 2024. COMPENSATION WAS PAID BOTH AS AN EMPLOYEE (REPORTED ON FORM W-2) AND AS AN INDEPENDENT CONTRACTOR (REPORTED ON FORM 1099-NEC). SPECIFICALLY, DANIEL F. MAHER RECEIVED: - W-2 COMPENSATION TOTALING $ 616,453 FOR SERVICES RENDERED DURING TAX YEAR 2023 IN HIS CAPACITY AS AN OFFICER AND EMPLOYEE OF THE ORGANIZATION, WHICH WAS PAID IN 2024. - 1099-NEC COMPENSATION TOTALING $307,608 FOR SEPARATE CONSULTING SERVICES PROVIDED OUTSIDE THE SCOPE OF HIS REGULAR EMPLOYMENT DUTIES. DURING THE YEAR, THE ORGANIZATION ENGAGED DANIEL MAHER AS AN INDEPENDENT CONTRACTOR TO PROVIDE MANAGEMENT CONSULTING SERVICES RELATED TO COMMUNICATING PRIMARILY WITH EXECUTIVE DIRECTOR AND ELANY MANAGERS. HE PARTICIPATES IN MANAGEMENT MEETINGS, MEETING WITH ELANY VENDORS VIRTUALLY OR IN PERSON, COMMUNICATE WITH AND GUIDES CURRENT ELANY MANAGERS PARTICULARLY WITH REGARD TO ACCOUNTING MATTERS, REGULATORY REPORTING, GUIDANCE REGARDING EXCESS LINE TRANSACTIONS, STAMPING OFFICE MANAGEMENT AND SERVICES AND IT PROJECTS. 2) DURING THE YEAR, THE ORGANIZATION ENGAGED NANCY BORN AS AN INDEPENDENT CONTRACTOR TO PROVIDE OPERATIONAL ADVISORY SERVICES RELATED TO 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. SHE WAS COMPENSATED IN THE AMOUNT OF $132,458 FOR SERVICES RENDERED UNDER A FORMAL AGREEMENT. NANCY BORN SERVED AS A KEY EMPLOYEE OF THE ORGANIZATION IN PRIOR YEARS.