2026-03-25T12:00:50-05:00 2025-12-31 521446779 JOHNSON LAMBERT LLP 4242 SIX FORKS RD STE 1500 RALEIGH NC 27609 990 2025-01-01 222744474 VERMONT CAPTIVE INSURANCE ASSOCIATION VERM 8026588242 150 DORSET ST STE 245 PMB 329 SOUTH BURLINGTON VT 05403 IAN DAVIS PRESIDENT 8026588242 2026-03-25 1 J CALVIN MARKS P01226973 9197196400 2025 2025-03-06 01:10:19Z IAN DAVIS 150 DORSET ST STE 245 PMB 329 SOUTH BURLINGTON VT 05403 2240402 0 X WWW.VCIA.COM X 1986 VT THE VERMONT CAPTIVE INSURANCE ASSOCIATION (VCIA) EXISTS TO PROMOTE THE VERMONT CAPTIVE INSURANCE INDUSTRY. VCIA HELD THEIR 40TH ANNUAL CONFERENCE IN AUGUST, DRAWING JUST OVER 1,000 PARTICIPANTS FROM ALL OVER THE WORLD. REGIONAL MEETINGS AND SEMINARS ARE ALSO HELD IN U.S. CITIES TO EDUCATE PEOPLE ABOUT VERMONT'S CAPTIVE INSURANCE INDUSTRY. 8 8 11 130 0 0 6470 0 2014887 2131989 56028 51224 7625 2810 2085010 2186023 720 1000 0 0 944367 1108533 0 0 0 1010989 1002605 1956076 2112138 128934 73885 1507670 1692476 457843 434105 1049827 1258371 X VCIA PROVIDES MEMBERS WITH LEGISLATIVE LEADERSHIP, EDUCATION, OPPORTUNITIES FOR INFORMATION-SHARING AND A NETWORK OF MUTUAL SUPPORT WITH OTHERS WHO SHARE OBJECTIVES IN ORDER TO ENSURE AN ENVIRONMENT FAVORABLE TO THE CONTINUED GROWTH AND HEALTH OF THE CAPTIVE INDUSTRY AND THE VERMONT CAPTIVE COMMUNITY.THIS WILL BE ACCOMPLISHED THROUGH AN ECONOMICALLY SOUND ASSOCIATION THAT IS ACTIVELY GOVERNED AND SUPPORTED BY A PARTICIPATIVE MEMBERSHIP. 0 0 VCIA HELD ITS 40TH ANNUAL CONFERENCE FEATURING APPROXIMATELY 30 SESSIONS AND FORUMS WHERE MEMBERS AND NON-MEMBERS NETWORK AND HAVE THE ABILITY TO EARN CPE/CLE CREDITS. VCIA HELD TWO EDUCATIONAL WEBINARS, AND ONE REGIONAL ROAD SHOW. MEMBERS AND NON-MEMBERS ARE ABLE TO EARN CPE/CLE CREDIT FOR THE EDUCATIONAL WEBINARS. THE ROAD SHOW SERVES TO EDUCATE PEOPLE ABOUT VERMONT'S CAPTIVE INSURANCE INDUSTRY. VCIA CONDUCTS LEGISLATIVE AND LOBBYING ACTIVITIES THOUGHOUT THE YEAR ON BOTH THE STATE AND FEDERAL LEVELS. IN JANUARY, VCIA HELD THEIR ANNUAL LEGISLATIVE DAY IN MONTPELIER, VT. VCIA STAFF AND LEGISLATIVE MEMBERS GATHERED TO CONTINUE THE SUCCESSFUL WORKING RELATIONSHIP BETWEEN VCIA AND THE STATE'S ELECTED AND APPOINTED LEADERS. VCIA ALSO HIRES AN ATTORNEY IN WASHINGTON DC TO ATTEND NAIC MEETINGS ON BEHALF OF VCIA. 0 0 0 1 0 0 0 0 0 1 0 0 0 0 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 8 0 1 11 1 0 0 0 0 1 1 0 0 0 X 8 8 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 1 1 1 0 VT X JOCELYN LAMB 8026588242 150 DORSET ST STE 245 PMB 329 SOUTH BURLINGTON VT 05403 KEVIN MEAD PRESIDENT (TO SEP '25) 40.00 X 164681 0 22295 ANGELA ARMOUR DIR, MEMBERSHIP & SALES 40.00 X 107750 0 24930 JOCELYN LAMB SR DIR, FINANCE; ASST TREASURER 40.00 X 101069 0 24959 IAN DAVIS PRESIDENT (BEGAN ROLE AUG '25) 40.00 X 78994 0 10044 NICOLE NIKKI FITZCHARLES MGR OF EVENTS, ASST SECRETARY 40.00 X 77167 0 23305 GAIL NEWMAN BOARD CHAIR 2.00 X X 0 0 0 JULIE BORDO VICE BOARD CHAIR 2.00 X X 0 0 0 AARON CIULLO TREASURER 2.00 X X 0 0 0 JASON PALMER TREASURER (TO SEP '25) 2.00 X X 0 0 0 MELINDA YOUNG SECRETARY 2.00 X X 0 0 0 JOE CARTER DIRECTOR 2.00 X 0 0 0 RYAN GADAPEE DIRECTOR 2.00 X 0 0 0 A TRACY HASSETT DIRECTOR (TO SEP '25) 2.00 X 0 0 0 CAMERON MACARTHUR DIRECTOR 2.00 X 0 0 0 BRENDA STEWART DIRECTOR 2.00 X 0 0 0 529661 0 105533 3 0 1 0 HILTON DOUBLETREE 870 WILLISTON RD SOUTH BURLINGTON VT 05403 EVENT SERVICES 257369 1 ANNUAL CONFERENCE 900099 1631742 1616935 14807 MEMBERSHIP DUES 900099 413897 413897 SPONSORSHIPS 900099 74500 74500 WEBINARS 611710 10375 10375 SEMINARS 900099 1475 1475 2131989 39602 39602 66001 54379 11622 11622 11622 2810 2810 2810 2186023 2042682 0 143341 1000 502514 444473 18529 71064 71953 95236 39996 14789 4773 9397 42986 83514 126352 4344 69724 472867 22939 12108 DUES & SUBSCRIPTIONS 2098 PROFESSIONAL DEVELOPMEN 1482 2112138 80858 56679 134180 164420 0 200 59448 85138 97543 55197 45361 42346 1187823 1343693 1507670 1692476 128416 81204 329427 352901 457843 434105 X 1049827 1258371 1049827 1258371 1507670 1692476 73885 134659 0 X 0 1 X 1 0 0 0 1 413897 22880 -574811 -551931 82779 -634710 97543 55197 42346 42346 X 2315909 134659 134659 2181250 4773 4773 2186023 2107365 0 2107365 4773 4773 2112138 PART X, LINE 2: MANAGEMENT HAS CONCLUDED THAT VCIA HAS PROPERLY MAINTAINED ITS EXEMPT STATUS AND HAS NOT TAKEN ANY UNCERTAIN TAX POSITIONS WHICH WOULD JEOPARDIZE ITS FEDERAL INCOME TAX EXEMPTION STATUS. X X 1 0 0 KEVIN MEAD PRESIDENT (TO SEP '25) 139050 0 24300 0 1331 0 6587 0 15708 0 186976 0 0 0 PART I, LINE 4A KEVIN MEAD RECEIVED A PAYOUT OF ACCRUED VACATION UPON HIS DEPARTURE IN THE AMOUNT OF $1,331. FORM 990, PART VI, SECTION A, LINE 6 VCIA'S VOTING MEMBERSHIP CONSISTS OF FULL MEMBERS. THE FOLLOWING CLASSES OF MEMBERS DO NOT VOTE: TRIAL MEMBERS, ASSOCIATE MEMBERS, HONORARY MEMBERS, AFFILIATE MEMBERS, CELL MEMBERS, AND VCIA FRIEND MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A FULL (CAPTIVE) MEMBERS OF VCIA ELECT THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B ALL GOVERNING DOCUMENTS ARE REQUIRED TO BE APPROVED BY FULL (CAPTIVE) MEMBERS. THE BYLAWS MAY BE AMENDED, REPEALED, OR ALTERED, IN WHOLE OR IN PART, BY THE VOTING MEMBERS. A CLASS OF MEMBERS, EVEN IF NON-VOTING, SHALL HAVE THE RIGHT TO VOTE BY CLASS ON AN AMENDMENT AFFECTING RIGHTS OF THAT CLASS, IF AND ONLY TO THE EXTENT REQUIRED BY LAW. THE ASSOCIATION MAY BE DISSOLVED, MERGED WITH OTHER ASSOCIATIONS, CONSOLIDATED WITH OTHER ASSOCIATIONS AND/OR DISPOSE OF ANY OR ALL ASSETS BY THE VOTE OF A TWO-THIRDS (2/3) MAJORITY OF FULL MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B VCIA'S FEDERAL FORMS 990 AND 990T ARE THOROUGHLY REVIEWED BY IAN DAVIS, PRESIDENT AND JOCELYN LAMB, SENIOR DIRECTOR OF FINANCE, PRIOR TO FILING TO ENSURE THAT THE FORMS ARE COMPLETE AND ACCURATE. FORM 990, PART VI, SECTION B, LINE 12C IT IS THE POLICY OF THE ASSOCIATION TO IDENTIFY, ADDRESS AND ACTIVELY MANAGE ISSUES OF ACTUAL, POTENTIAL AND PERCEIVED CONFLICTS OF INTEREST INVOLVING ALL BOARD MEMBERS AND KEY EMPLOYEES. COVERED INDIVIDUALS ARE REQUIRED TO COMPLETE, AND UPDATE AS NECESSARY, AN ANNUAL CONFLICT OF INTEREST (COI) DISCLOSURE FORM. ANY POTENTIAL CONFLICTS INVOLVING A MEMBER OF THE BOARD OR KEY EMPLOYEE IS REVIEWED BY CHAIR OF THE BOARD, THE PRESIDENT AND ANY OTHER INDIVIDUALS SO APPOINTED BY THE CHAIR OF THE BOARD. IF ANY IMPROPRIETY OR CONFLICTS EXIST, THEY ARE HANDLED BASED ON THE PARTICULAR CIRCUMSTANCES. INDIVIDUALS INVOLVED IN THE CONFLICT SITUATION WILL WORK COOPERATIVELY WITH THE APPROPRIATE ASSOCIATION STAFF AND BOARD MEMBERS. ACTIONS MAY INCLUDE THE REMOVAL OF THE INDIVIDUAL FROM A POSITION OF DECISION-MAKING AUTHORITY WITH RESPECT TO THE CONFLICT SITUATION, NOT INVOLVING THE INDIVIDUAL IN DISCUSSIONS, DELIBERATIONS AND VOTES OF THE BOARD. IN THE EVENT THAT A CONFLICT INVOLVES A CONTRACT OR AGREEMENT BEING ENTERED INTO BY THE ASSOCIATION, THE CONFLICT MUST BE DISCLOSED, AND THE STEPS TAKEN TO ADDRESS IT BE DOCUMENTED. ANY DOCUMENTATION RELATED TO A CONFLICT OF INTEREST ACTION, TOGETHER WITH THE ANNUAL COI DISCLOSURES ARE KEPT ON FILE IN THE PRESIDENT'S OFFICE. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD'S COMPENSATION COMMITTEE ANNUALLY REVIEWS THE PRESIDENT'S BASE COMPENSATION, BONUS AND PERFORMANCE. THE PRESIDENT REVIEWS AND APPROVES ALL EMPLOYEE PERFORMANCE AND COMPENSATION ADJUSTMENTS ANNUALLY. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS MADE AVAILABLE UPON REQUEST