2025-10-14T18:50:39-05:00 2024-11-30 941254756 HOOD & STRONG LLP 2580 N 1ST ST STE 460 SAN JOSE CA 95131 990 2023-12-01 940912095 SURPLUS LINE ASSOCIATION OF CALIFORNIA SURP 4154344900 12667 ALCOSTA BLVD 450 SAN RAMON CA 94583 BENJAMIN MCKAY EXECUTIVE DIRECTOR 4154344900 2025-10-10 1 1 JACOB YAU P01560332 4089988400 2023 2025-03-06 01:10:19Z BENJAMIN MCKAY 12667 ALCOSTA BLVD 450 SAN RAMON CA 94583 39768849 0 X WWW.SLACAL.COM X 1937 CA TO HELP MAINTAIN A HEALTHY, FAIR, AND COMPETITIVE SURPLUS LINE MARKETPLACE IN CALIFORNIA. 11 11 173 15 0 0 0 0 34127361 34375839 180335 1439731 0 0 34307696 35815570 179001 1080599 0 0 19707388 22497172 0 0 0 8105060 7320344 27991449 30898115 6316247 4917455 56020622 61889711 5878347 5841306 50142275 56048405 X OUR MISSION IS TO ENSURE THAT A RESPONSIVE AND LAWFUL SURPLUS LINE INSURANCE MARKET IS MAINTAINED IN CALIFORNIA. OUR MEASURES OF SUCCESS IN THIS RESPECT ARE THAT THE CONSUMER IS PROTECTED, THE NEEDS OF THE REGULATORS ARE WELL-SERVED, AND UNLAWFUL ACTIVITIES ARE CURTAILED. THROUGH A PROFESSIONAL AND COMMITTED ORGANIZATION, UTILIZING STATE OF THE ART TECHNOLOGY AND A CHALLENGING WORK ENVIRONMENT, WE RESPOND TO THE NEEDS OF THE CALIFORNIA CONSUMER, OUR MEMBERSHIP, AND APPROPRIATE PUBLIC AGENCIES. WE PROVIDE EDUCATION, PROCESSING, EVALUATION, AND DISSEMINATION OF SURPLUS LINE DATA AND INFORMATION TO HELP ENSURE THE FINANCIAL INTEGRITY AND STABILITY OF THE SURPLUS LINE MARKET. 0 0 THE SLA PROVIDES INFORMATION AND INSTRUCTION TO ITS MEMBERS AND OTHER INTERESTED PERSONS CONCERNED BY BROADENING ITS COMMUNICATION CAPABILITIES, PRESENTING SEMINARS, EDUCATING THE INDUSTRY AND CONSUMERS IN SURPLUS LINE LAWS AND REGULATIONS, ASSISTING WITH THE REGULATORY COMPLIANCE QUESTIONS, AND DISSEMINATING, IN A TIMELY MATTER, UPDATED AND CURRENT INFORMATION RELATIVE TO THE SURPLUS LINE INDUSTRY. THE SLA PROTECTS CALIFORNIAN CONSUMERS AND PRODUCES ANALYSIS ON THE 138 COMPANIES ON CALIFORNIA'S LIST OF APPROVED SURPLUS LINE INSURERS. THE SLA AUTHORED OVER 100 REPORTS DURING THE YEAR ON THESE INSURERS. THE SLA CONSISTS OF 7,226 MEMBERS (RESIDENT & NON-RESIDENT). THE SLA OFFERS A NUMBER OF EDUCATIONAL SERVICES TO MEET THE NEEDS OF OUR BROKERS. DURING THIS PERIOD, WE OFFERED 12 LIVE CE COURSES AND ISSUED 1,177 LIVE CE CERTIFICATES AND 25 ON-DEMAND CE COURSES AND 789 ON-DEMAND CE CERTIFICATES. TOPICS FOCUSED ON CURRENT AND EMERGING TRENDS AND WERE FACILITATED BY INSURANCE EXPERTS AND PROFESSIONAL TRAINERS. OUR LIVE COURSES INCLUDED A LIVE Q&A AND WERE FILMED AND CONVERTED INTO ON-DEMAND COURSES FOR BROKERS UNABLE TO JOIN THE LIVE SESSION. IN ADDITION TO OUR CE COURSES, WE CONTINUED TO PRODUCE A LIVE WEBINAR SERIES CALLED COMPLIANCE CONNECTIONS WHICH ADDRESSES VARIOUS COMPLIANCE TOPICS THAT SHARE VALUABLE INFORMATION ON CALIFORNIA LAWS AND REGULATIONS. WE HAD 695 MEMBER ATTENDEES JOIN SESSIONS ON TOPICS THAT INCLUDED INFORMATION ON THE EXPORT LIST AND AN OVERVIEW OF THE NEW DILIGENT SEARCH REPORT. ALL WEBINARS PROVIDED A LIVE Q&A AND ARE POSTED IN THE LEARNING CENTER FOR ON-DEMAND REFERENCE. WE ALSO OFFERED CUSTOMIZED TRAINING TO MEET INDIVIDUAL MEMBER NEEDS THAT COVER SURPLUS LINE INSURANCE REGULATION, THE SURPLUS LINE FILING PROCESS, USE OF THE SLIP PORTAL, AND HOW TO EFFECTIVELY MANAGE AND RESOLVE DEFICIENCIES (TAGS) AS WELL AS AN INTRODUCTION TO CALIFORNIA SURPLUS LINE REGULATION. BUSINESS ENTITIES ARE REQUIRED TO PROVIDE THIS TWO-HOUR TRAINING TO ALL EMPLOYEES WHO SOLICIT, NEGOTIATE, OR EFFECT SURPLUS LINE INSURANCE. THE SLA IS RESPONSIBLE FOR THE DEVELOPMENT AND DELIVERY OF THIS CONTENT AND IN THIS PERIOD, WE ISSUED 957 CERTIFICATES TO BUSINESS ENTITY EMPLOYEES. 0 0 0 0 0 0 0 0 0 1 0 0 0 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 28 0 1 173 1 0 0 0 0 0 0 1 0 X 11 11 0 0 0 0 0 1 0 1 0 0 0 0 1 1 1 1 1 1 1 0 CA X EDWARD CLARKE 4154344900 12667 ALCOSTA BLVD 450 SAN RAMON CA 94583 RICH GOBLER CHAIR 1.00 X X 0 0 0 JOHN WASHINGTON VICE CHAIR 1.00 X X 0 0 0 SARAH NICHOLS SECRETARY/TREASURER 1.00 X X 0 0 0 JANET BEAVER PAST CHAIR, CHAIR (THRU FEB 28, 2024) 1.00 X X 0 0 0 CHARLES ROSSON BOARD MEMBER 1.00 X 0 0 0 TERRI MORAN BOARD MEMBER 1.00 X 0 0 0 JAMES FALEY BOARD MEMBER 1.00 X 0 0 0 JON LARSON BOARD MEMBER 1.00 X 0 0 0 PAM QUILICI BOARD MEMBER 1.00 X 0 0 0 ROBERT GILBERT BOARD MEMBER 1.00 X 0 0 0 KHRISTOPHER BAUER BOARD MEMBER 1.00 X 0 0 0 TERRENCE VILLAR BOARD MEMBER (THRU MARCH 19, 2024) 1.00 X 0 0 0 TIMOTHY CHAIX BOARD MEMBER (THRU AUGUST 6, 2024) 1.00 X 0 0 0 HANK HALDEMAN MEMBER (THRU FEBRUARY 28, 2024) 1.00 X 0 0 0 KATHY SCHROEDER MEMBER (THRU FEBRUARY 28, 2024) 1.00 X 0 0 0 BENJAMIN MCKAY CEO & EXECUTIVE DIRECTOR 37.50 X 1131598 0 70419 MICHAEL CATUREGLI CHIEF TECHNOLOGY & ANALYSIS OFFICER 37.50 X 318611 0 56549 DAVID KODAMA CHIEF INDUSTRY & REGULATORY OFFICER 37.50 X 298007 0 56859 BARBARA TRUMBLY SENIOR VP, OPERATIONS & EVENTS 37.50 X 319288 0 47323 JAMES GREENE VP, DIGITAL COMMUNICATION 37.50 X 297144 0 31128 YUSUF MAYET VP, COMPLIANCE 37.50 X 247397 0 27883 SATYA VANI GANTI VP, TECHNOLOGY 37.50 X 226183 0 53060 GLENN LEUNG VP, FINANCE ANALYST 37.50 X 217354 0 20619 3055582 0 363840 11 0 1 0 KIKODA LLC 4004 NORTON LANE STE 204 TALLAHASSEE FL 32308 IT SUPPORT 980915 SDC7 LLC PO BOX 640 SAN RAMON CA 94583 RENTAL 763448 THE RITZ CARLTON BACARA SANTA BARBARA 8301 HOLLISTER AVE SANTA BARBARA CA 93117 VENUE FOR EVENT 151248 EVERSHEDS SUTHERLAND US LLP 999 PEACHTREE STREET NE SUITE 2300 ATLANTA GA 30309 LEGAL 120055 4 STAMPING FEES 900099 34375839 34375839 34375839 1243112 1243112 4149898 3953279 196619 196619 196619 35815570 34375839 0 1439731 1080599 1932044 15720366 859065 2737784 1247913 209163 115265 46285 805423 426593 828901 750219 334165 1336788 880649 248793 EMPLOYEE RELATIONS 376554 PROF. DEVELOPMENT 337163 DUES & SUBSCRIPTIONS 256060 SUPPLIES 200896 167427 30898115 2861493 7311170 19464386 3830726 2951567 3115556 542321 972181 4727130 2662989 2093622 2064141 24744921 42039696 1147886 857435 2214426 1698806 56020622 61889711 346034 317173 120000 880000 5412313 4644133 5878347 5841306 X 50142275 56048405 50142275 56048405 56020622 61889711 4917455 988675 0 X 0 1 X 1 0 3108027 1909157 1198870 1551346 753832 797514 67757 67757 2064141 OTHER ACCRUED LIABILITIES 2780803 OPERATING LEASE OBLIGATION 1863330 4644133 X 36707060 988675 -50900 937775 35769285 46285 46285 35815570 30800930 0 30800930 46285 50900 97185 30898115 PART X, LINE 2: THE ASSOCIATION HAS BEEN GRANTED A CERTIFICATE OF EXEMPTION FROM PAYMENT OF FEDERAL INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE AND STATE TAXES ON INCOME UNDER SECTION 23701E OF THE CALIFORNIA REVENUE AND TAXATION CODE. THE ASSOCIATION ADOPTED GUIDANCE ISSUED BY THE FINANCIAL ACCOUNTING STANDARDS BOARD (FASB), WHICH ESTABLISHED A SINGLE MODEL TO ADDRESS ACCOUNTING FOR UNCERTAIN TAX POSITIONS AND CLARIFIED THE ACCOUNTING FOR INCOME TAXES BY PRESCRIBING A MINIMUM THRESHOLD A TAX POSITION IS REQUIRED TO MEET BEFORE BEING RECOGNIZED IN THE FINANCIAL STATEMENTS. AN UNCERTAIN TAX POSITION REPRESENTS A TAX POSITION MANAGEMENT DETERMINES MAY HAVE A LESS THAN 50% CHANCE OF BEING SUSTAINED UPON AN EXAMINATION BY A TAXING AUTHORITY. WHILE THE ASSOCIATION DOES NOT CURRENTLY INCLUDE AN INCOME TAX PROVISION IN THE FINANCIAL STATEMENTS, MANAGEMENT MONITORS THE REPORTING OF UNCERTAIN TAX POSITIONS USED IN PREPARATION OF THE ASSOCIATION'S TAX RETURNS, INCLUDING APPLICABLE INTEREST AND PENALTIES RELATED TO MATERIAL UNCERTAIN TAX POSITIONS, WHICH COULD RESULT IN RECORDING OF AN INCOME TAX PROVISION IN THE FUTURE. MANAGEMENT HAS EVALUATED THE ASSOCIATION'S TAX POSITIONS AND HAS CONCLUDED THAT THE ASSOCIATION HAS MAINTAINED ITS TAX-EXEMPT STATUS AND HAS TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. CURRENTLY, THE ASSOCIATION'S TAX YEARS THAT ARE OPEN TO EXAMINATION BY THE INTERNAL REVENUE ARE 2021 THROUGH 2024 AND BY THE CALIFORNIA FRANCHISE TAX BOARD ARE 2020 THROUGH 2024. PART XI, LINE 2D - OTHER ADJUSTMENTS: WRITE-OFF OF FIXED ASSETS RECLASSED TO EXPENSES -50,900. PART XII, LINE 4B - OTHER ADJUSTMENTS: WRITE-OFF OF FIXED ASSETS RECLASSED TO EXPENSES 50,900. 1 INSURANCE INDUSTRY CHARITABLE FOUNDATION 2121 AVENUE OF THE STARS SUITE 800 LOS ANGELES CA 90067 201240972 501(C)(3) 31000 0 WESTERN DIVISION MISCELLANEOUS INSURANCE INDUSTRY PURPOSE. CAL STATE FULLERTON PHILANTHROPIC FOUNDATION 2600 NUTWOOD AVENUE SUITE 850 FULLERTON CA 92831 330567945 501(C)(3) 10500 0 SRMI GOLF TOURNAMENT PLATINUM SPONSORSHIP & IDAY BOOK SPONSORSHIP CALIFORNIA INSURANCE WHOLESALERS ASSOCIATION 4160 SUISUN VALLEY ROAD SUITE E428 FAIRFIELD CA 94534 954369749 501(C)(6) 25000 0 CIWA 2024 SUMMER FORUM EVENT SPONSORSHIP DONOR NETWORK WEST FOUNDATION 12667 ALCOSTA BOULEVARD SUITE 500 SAN RAMON CA 94583 923408704 501(C)(3) 10000 0 SILVER SPONSORSHIP - HOPE GOLF TOURNAMENT USC MARSHALL SCHOOL OF BUSINESS 1150 S OLIVE STREET 25TH FLOOR LOS ANGELES CA 90015 951642394 501(C)(3) 1000000 0 5 YEARS' PLEDGE - SCHOLARSHIP SUPPORT FOR ALL GENERAL EDUCATION EXPENSES INCURRED BY UNDERGRADUATE STUDENTS AT THE UNIVERSITY 4 1 PART I, LINE 2: THE SLA GRANTS MONIES TO PROGRAMS THAT ARE ESTABLISHED FOR SPECIFIC PURPOSES AS RELATED TO THE SURPLUS LINES INDUSTRY. THE SLA HAS CONSTANT AND REGULAR INTERACTION WITH THEIR GRANTEES AT THE STAFF AND BOARD LEVEL. X 1 1 X X X X X 0 0 0 BENJAMIN MCKAY CEO & EXECUTIVE DIRECTOR 756753 0 276529 0 98316 0 29710 0 40709 0 1202017 0 0 0 MICHAEL CATUREGLI CHIEF TECHNOLOGY & ANALYSIS OFFICER 268030 0 31528 0 19053 0 15840 0 40709 0 375160 0 0 0 BARBARA TRUMBLY SENIOR VP, OPERATIONS & EVENTS 237164 0 31193 0 50931 0 14720 0 32603 0 366611 0 0 0 DAVID KODAMA CHIEF INDUSTRY & REGULATORY OFFICER 249282 0 36529 0 12196 0 16150 0 40709 0 354866 0 0 0 JAMES GREENE VP, DIGITAL COMMUNICATION 222044 0 41529 0 33571 0 14498 0 16630 0 328272 0 0 0 SATYA VANI GANTI VP, TECHNOLOGY 178076 0 26508 0 21599 0 12351 0 40709 0 279243 0 0 0 YUSUF MAYET VP, COMPLIANCE 176545 0 56129 0 14723 0 11275 0 16608 0 275280 0 0 0 GLENN LEUNG VP, FINANCE ANALYST 176760 0 21508 0 19086 0 11216 0 9403 0 237973 0 0 0 PART I, LINE 1A ALL THE COMPENSATED EMPLOYEES LISTED ON FORM 990, PART VII, SECTION A, LINE 1A RECEIVED A GROSS-UP BONUS PAYMENT. ALL GROSS-UP PAYMENTS WERE TREATED AS TAXABLE COMPENSATION TO THE EMPLOYEES AND REFLECTED ON THEIR FORMS W-2. PART I, LINE 3 THE SVP OF HR CONDUCTS A COMPENSATION REVIEW OF SIMILAR POSITIONS AND INDUSTRY DATA, AS WELL AS CONTRACTING WITH AN INDEPENDENT SALARY CONSULTANT. THE BOARD DISCUSSES THE CEO & EXECUTIVE DIRECTOR'S COMPENSATION IN THEIR ANNUAL PERFORMANCE REVIEW AND DETERMINES THE CEO & EXECUTIVE DIRECTOR'S COMPENSATION. FORM 990, PART VI, SECTION A, LINE 7A ARTICLE IX SECTION 3, SLA CONSTITUTION: VOTING ELIGIBILITY. ONLY THOSE RESIDENT MEMBERS THAT FILED ONE OR MORE SL-1 OR SL-2 FORMS DURING THE 12 MONTHS IMMEDIATELY PRECEDING THE MONTH IN WHICH THE VOTE IS TAKEN ARE ELIGIBLE TO VOTE FOR ELECTION OF OFFICERS OR THE CONDUCT OF ASSOCIATION BUSINESS REQUIRING A VOTE OF THE MEMBERSHIP. FORM 990, PART VI, SECTION A, LINE 8B THE ORGANIZATION'S COMMITTEES DOCUMENT MAJOR MEETINGS/WRITTEN ACTIONS BUT COMMITTEES DO NOT HAVE A GOVERNING ROLE. THEY PROVIDE A ROLE OF SUPPORT OR MAKING RECOMMENDATIONS TO THE BOARD. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION'S ACCOUNTING FIRM PREPARED THE FORM 990 BASED ON THE INFORMATION PROVIDED BY THE ORGANIZATION'S CONTROLLER. THE CONTROLLER REVIEWS FORM 990 AND RESOLVES ANY ISSUES WITH THE ACCOUNTING FIRM. THE CEO REVIEWS BEFORE AUTHORIZING THE ACCOUNTING FIRM TO OFFICIALLY FILE THE FORM 990. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS ARE REQUIRED TO SIGN A NO CONFLICT OF INTEREST POLICY STATEMENT ANNUALLY. AT EACH BOARD MEETING, BOARD MEMBERS ARE REQUIRED TO DISCLOSE ANY CONFLICTS OR POTENTIAL CONFLICTS OF INTEREST TO THE BOARD. THIS IS REINFORCED AT EVERY MEETING BY COUNSEL GIVING AN ANTI-TRUST ADMONITION. FORM 990, PART VI, SECTION B, LINE 15 THE SVP OF HR CONDUCTS A COMPENSATION REVIEW OF SIMILAR POSITIONS AND INDUSTRY DATA, AS WELL AS CONTRACTING WITH AN INDEPENDENT SALARY CONSULTANT. THE BOARD DISCUSSES THE CEO & EXECUTIVE DIRECTOR'S COMPENSATION IN THEIR ANNUAL PERFORMANCE REVIEW AND DETERMINES THE CEO & EXECUTIVE DIRECTOR'S COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS ARE AVAILABLE ON THE ORGANIZATION'S WEBSITE. FINANCIAL STATEMENTS ARE AVAILABLE UPON REQUEST FOR THE SAME PERIOD OF TIME SET FORTH IN SEC. 6104(D).