2024-10-15T13:40:23-05:00 2023-12-31 221478099 COHNREZNICK LLP 14 SYLVAN WAY PARSIPPANY NJ 070543801 990 2023-01-01 061328907 INSURED RETIREMENT INSTITUTE INC INSU 2024693000 1100 VERMONT AVENUE NW 10TH FLOOR WASHINGTON DC 20005 WAYNE CHOPUS PRESIDENT AND CEO 2024693000 2024-10-08 1 1 JOLANTA TUCK CPA P01340068 9732283500 2024-10-07 2023 2024-10-15 13:58:12Z WAYNE CHOPUS 1100 VERMONT AVENUE NW 10TH FLOOR WASHINGTON DC 20005 8713364 0 X WWW.IRIONLINE.ORG X 1991 CT TO PROMOTE UNDERSTANDING OF AND ADVOCATE ON ISSUES AFFECTING INSURED RETIREMENT STRATEGIES. 37 37 21 39 0 0 0 0 7582946 8429726 -9325 5018 270315 -66934 7843936 8367810 0 0 0 0 4761023 5280969 0 0 0 2679609 2801782 7440632 8082751 403304 285059 7829524 9201441 6367160 7454018 1462364 1747423 X THE MISSION OF THE INSURED RETIREMENT INSTITUTE IS TO: A. TO CHAMPION RETIREMENT SECURITY FOR ALL AMERICANS THROUGH LEADERSHIP IN ADVOCACY, AWARENESS, RESEARCH, AND ADVANCEMENT OF TECHNOLOGY SOLUTIONS WITHIN A COLLABORATIVE INDUSTRY COMMUNITY; ANDB. TO DO SUCH OTHER AND FURTHER THINGS AS MAY SERVE AND PROMOTE THE INDUSTRY AND THE COMMON BUSINESS INTERESTS OF ITS MEMBERSHIP 0 0 MEMBERSHIP & ENGAGEMENT:MEMBERSHIP SERVICES PROVIDES EDUCATION AND INFORMATION TO ASSOCIATION MEMBERS. THIS INCLUDES CONFERENCES THAT BRING TOGETHER ASSOCIATION MEMBERS AND OTHERS INTERESTED IN ANNUITY AND RETIREMENT PRODUCTS TO EDUCATE THEM ON CURRENT ISSUES, INCLUDING PRODUCT FEATURES AND BENEFITS. ADVOCACY:THE ASSOCIATION'S ADVOCACY PROGRAMS SEEK TO ADVANCE PUBLIC POLICY SOLUTIONS THAT EXPAND ACCESS TO WORKPLACE RETIREMENT PLANS AND PROTECTED INCOME PRODUCTS AND TO ENSURE ACCESS TO CONSUMERS' CHOICE OF PROFESSIONAL FINANCIAL GUIDANCE, AMONG OTHER PRIORITIES. OPERATIONS & TECHNOLOGY:THE ASSOCIATION'S OPERATIONS & TECHNOLOGY PROGRAMS SUPPORT THE INDUSTRY'S DEVELOPMENT OF DIGITAL SOLUTIONS FOR THE PURPOSE OF MEETING THE PRDOUCT NEEDS AND SERVICE EXPECTATIONS OF FINANCIAL PROFESSIONALS AND CONSUMERS. 0 0 0 1 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 19 0 1 21 1 0 0 0 0 0 0 1 0 X 37 37 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X WAYNE CHOPUS 2024693001 1100 VERMONT AVENUE NW 10TH FLOOR WASHINGTON DC 20005 TERRI FIEDLER EXECUTIVE OFFICER, CHAIR 2.00 X X 0 0 0 PHILLIP PELLEGRINO EXECUTIVE OFFICER, VICE CHAIR 2.00 X X 0 0 0 PAULA NELSON EXECUTIVE OFFICER, TREASURER 2.00 X X 0 0 0 JACOB ARMSTRONG DIRECTOR 2.00 X 0 0 0 SEAN BAKER DIRECTOR 2.00 X 0 0 0 DOUG BRIGMAN DIRECTOR 2.00 X 0 0 0 GRAHAM DAY DIRECTOR 2.00 X 0 0 0 MICHAEL EUSTIC DIRECTOR 2.00 X 0 0 0 DEV GANGULY DIRECTOR 2.00 X 0 0 0 CHRISTOPHER GRADY DIRECTOR 2.00 X 0 0 0 MARCI GREEN DIRECTOR 2.00 X 0 0 0 ERIC HENDERSON DIRECTOR 2.00 X 0 0 0 ROBERT JAMEISON DIRECTOR 2.00 X 0 0 0 JOHN KENNEDY DIRECTOR 2.00 X 0 0 0 KEVIN KENNEDY DIRECTOR 2.00 X 0 0 0 MELISSA KIVETT DIRECTOR 2.00 X 0 0 0 MYLES LAMBERT DIRECTOR 2.00 X 0 0 0 PETER LANDRY DIRECTOR 2.00 X 0 0 0 CHRISTINA LOFTUS DIRECTOR 2.00 X 0 0 0 BILL LOWE DIRECTOR 2.00 X 0 0 0 PAUL LUCAS DIRECTOR 2.00 X 0 0 0 BOB MCGOWAN DIRECTOR 2.00 X 0 0 0 JOSEPH NEARY DIRECTOR 2.00 X 0 0 0 JAMIE OHL DIRECTOR 2.00 X 0 0 0 LAURA PANTALEO DIRECTOR 2.00 X 0 0 0 ROBERT PETTMAN DIRECTOR 2.00 X 0 0 0 SRI REDDY DIRECTOR 2.00 X 0 0 0 KATHERINE ROY DIRECTOR 2.00 X 0 0 0 STEPHEN SCANLON DIRECTOR 2.00 X 0 0 0 JOHN SCHOBEL DIRECTOR 2.00 X 0 0 0 JOE SCHULTZ DIRECTOR 2.00 X 0 0 0 WES SEVERIN DIRECTOR 2.00 X 0 0 0 MICHAEL STURM DIRECTOR 2.00 X 0 0 0 TODD TAYLOR DIRECTOR 2.00 X 0 0 0 JOSEPH TOLEDANO DIRECTOR 2.00 X 0 0 0 DYLAN TYSON DIRECTOR 2.00 X 0 0 0 COREY WALTHER DIRECTOR 2.00 X 0 0 0 WAYNE CHOPUS PRESIDENT AND CEO 37.50 X 1058075 0 53845 CHRISTINA BRADY CHIEF OPERATING OFFICER 37.50 X 318370 0 46335 JASON BERKOWITZ CHIEF LEGAL & REGULATORY AFFAIRS OFFICER 37.50 X 362927 0 59203 PAUL RICHMAN CHIEF GOVERNMENT & POLITICAL AFFAIRS OFFICER 37.50 X 322730 0 38760 SHANI ARMON CHIEF MEMBERSHIP & MARKETING OFFICER 37.50 X 268287 0 21881 KATHERINE DEASE CHIEF TECHNOLOGY AND INNOVATION OFFICER 37.50 X 306625 0 16771 FRANCIS O'CONNOR VP, RESEARCH AND OUTREACH 37.50 X 195335 0 41860 SARAH WOOD DIRECTOR OF STATE POLICY AND REGULATORY AFFAIRS 37.50 X 159879 0 15790 DANIEL ZIELINSKI CHIEF STRATEGIC COMMUNICATIONS OFFICER 37.50 X 209833 0 45846 3202061 0 340291 17 0 1 0 CLIFTONLARSONALLEN LLP 220 S SIXTH ST SUITE 300 MINNEAPOLIS MN 55402 ACCOUNTING SERVICES 237901 FORBES TATE PARTNERS LLC 3317 S HIGLEY RD SUITE GILBERT AZ 85297 LOBBYING SERVICES 182028 2 MEMBERSHIP 611710 5234826 5234826 CONFERENCES 611710 1443286 1443286 PREMIER ALLIANCE PROGR 611710 1030000 1030000 INDUSTRY WIDE TRAINING 611710 635431 635431 COOPERATIVE TECHNOLOGI 611710 86183 86183 8429726 5018 5018 267913 345554 -77641 -77641 -77641 10707 10707 10707 8367810 8440433 0 -72623 2260245 2553312 106326 112741 248345 144074 262198 182028 137993 16000 258865 276041 253891 1113112 74299 STAFF TRAINING & DEVELO 34853 48428 8082751 4749312 6395503 1001367 1006386 188325 162452 318132 288252 930023 853910 123277 76113 432206 1449111 840529 7829524 9201441 185600 241010 4476140 5816845 1705420 1396163 6367160 7454018 X 1462364 1747423 0 0 1462364 1747423 7829524 9201441 285059 0 X 0 1 X 1 0 0 0 INSURED RETIREMENT INSTITUTE POLITICAL ACTION COMMITTEE 1100 VERMONT AVENUE NW 10TH FLOOR WASHINGTON DC 20005 273719919 0 0 1 5234826 182028 -677269 -495241 785224 -1280465 424226 364127 60099 505797 489783 16014 76113 DEFERRED COMPENSATION 816336 SECURITY DEPOSIT 24193 840529 RIGHT OF USE LIABILITY 579827 DEFERRED COMPENSATION 816336 1396163 X 8847205 479395 479395 8367810 0 8367810 8571414 488663 488663 8082751 0 8082751 PART X, LINE 2: THE INSTITUTE EVALUATES UNCERTAINTY IN INCOME TAX POSITIONS BASED ON A MORE-LIKELY-THAN-NOT RECOGNITION STANDARD. IF THAT THRESHOLD IS MET, THE TAX POSITION IS THEN MEASURED AT THE LARGEST AMOUNT THAT IS GREATER THAN 50% LIKELY OF BEING REALIZED UPON ULTIMATE SETTLEMENT. AS OF DECEMBER 31, 2023 AND 2022, THERE ARE NO ACCRUALS FOR UNCERTAIN TAX POSITIONS. IF APPLICABLE, THE INSTITUTE RECORDS INTEREST AND PENALTIES AS A COMPONENT OF INCOME TAX EXPENSE. TAX YEARS FROM 2020 THROUGH THE CURRENT YEAR REMAIN OPEN FOR EXAMINATION BY TAX AUTHORITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: AFFILIATE REMOVED FROM CONSOLIDATED TOTAL 133,841. RENTAL EXPENSES RECLASSIFIED TO REVENUE 345,554. PART XII, LINE 2D - OTHER ADJUSTMENTS: AFFILIATE REMOVED FROM CONSOLIDATED TOTAL 143,109. RENTAL EXPENSES RECLASSIFIED TO REVENUE 345,554. X 0 0 0 WAYNE CHOPUS PRESIDENT AND CEO 583075 0 475000 0 0 0 16500 0 37345 0 1111920 0 0 0 JASON BERKOWITZ CHIEF LEGAL & REGULATORY AFFAIRS OFF 307927 0 55000 0 0 0 16474 0 42729 0 422130 0 0 0 CHRISTINA BRADY CHIEF OPERATING OFFICER 266370 0 52000 0 0 0 14070 0 32265 0 364705 0 0 0 PAUL RICHMAN CHIEF GOVERNMENT & POLITICAL AFFAIRS 275230 0 47500 0 0 0 14245 0 24515 0 361490 0 0 0 KATHERINE DEASE CHIEF TECHNOLOGY AND INNOVATION OFFI 271625 0 35000 0 0 0 12477 0 4294 0 323396 0 0 0 SHANI ARMON CHIEF MEMBERSHIP & MARKETING OFFICER 226287 0 42000 0 0 0 11372 0 10509 0 290168 0 0 0 DANIEL ZIELINSKI CHIEF STRATEGIC COMMUNICATIONS OFFIC 186333 0 23500 0 0 0 9928 0 35918 0 255679 0 0 0 FRANCIS O'CONNOR VP, RESEARCH AND OUTREACH 174835 0 20500 0 0 0 9264 0 32596 0 237195 0 0 0 SARAH WOOD DIRECTOR OF STATE POLICY AND REGULAT 144879 0 15000 0 0 0 7292 0 8498 0 175669 0 0 0 PART I, LINE 7 THE CEO'S BONUS IS DETERMINED BY THE BOARD EXECUTIVE COMMITTEE. EMPLOYEE BONUSES ARE DETERMINED BY THE CEO IN ACCORDANCE WITH THE BOARD-APPROVED BUDGET FOR BONUSES AND ANY BOARD-APPROVED CHANGES THERETO. ALL BONUSES ARE PAID AT THE DISCRETION OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 1A INSURED RETIREMENT INSTITUTE, INC. (IRI) HAS ONLY ONE CLASS OF MEMBERS. EACH MEMBER OF THE CORPORATION SHALL BE ENTITLED TO ONE (1) VOTE FOR THE ELECTION OF DIRECTORS OF THE CORPORATION. SUCH VOTE MAY BE CONDUCTED BY MAIL OR ELECTRONIC MEANS. MEMBERS SHALL HAVE NO OTHER VOTING RIGHTS. A MEMBER MAY AUTHORIZE ANOTHER PERSON OR PERSONS TO ACT FOR IT BY PROXY, BUT NO PROXY SHALL BE VOTED OR ACTED UPON AFTER ELEVEN MONTHS FROM THE DATE THEREOF, UNLESS A LONGER PERIOD IS EXPRESSLY PROVIDED IN THE APPOINTMENT. FORM 990, PART VI, SECTION A, LINE 2 JOHN KENNEDY AND KEVIN KENNEDY HAVE A FAMILIAL RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 6 INSURED RETIREMENT INSTITUTE, INC. (IRI) HAS ONLY ONE CLASS OF MEMBERS. EACH MEMBER OF THE CORPORATION SHALL BE ENTITLED TO ONE (1) VOTE FOR THE ELECTION OF DIRECTORS OF THE CORPORATION. SUCH VOTE MAY BE CONDUCTED BY MAIL OR ELECTRONIC MEANS. MEMBERS SHALL HAVE NO OTHER VOTING RIGHTS. A MEMBER MAY AUTHORIZE ANOTHER PERSON OR PERSONS TO ACT FOR IT BY PROXY, BUT NO PROXY SHALL BE VOTED OR ACTED UPON AFTER ELEVEN MONTHS FROM THE DATE THEREOF, UNLESS A LONGER PERIOD IS EXPRESSLY PROVIDED IN THE APPOINTMENT. FORM 990, PART VI, SECTION A, LINE 7A THERE SHALL BE AN EXECUTIVE COMMITTEE COMPOSED OF THE CHAIR, IMMEDIATE PAST CHAIR (IF STILL IN SERVICE AS A DULY ELECTED DIRECTOR), PRESIDENT, VICE CHAIR, TREASURER, SECRETARY, AND SUCH OTHER DIRECTORS AS MAY BE DETERMINED BY THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE HAS AUTHORITY TO TAKE ACTION FOR THE CORPORATION IN ACCORDANCE WITH ITS CERTIFICATE OF INCORPORATION AND BYLAWS AND THE POLICIES AND INSTRUCTIONS OF THE BOARD OF DIRECTORS BETWEEN MEETINGS OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 11B COHNREZNICK LLP WILL PROVIDE THE COMPLETED 990 TO IRI. THE CHIEF OPERATING OFFICER WILL REVIEW THE 990 AND MAKE SURE IT BALANCES BACK TO THE FINANCIAL STATEMENTS AND THE CHIEF LEGAL OFFICER WILL REVIEW THE 990 FOR ACCURACY AND COMPLETENESS. THEN THE PRESIDENT/CHIEF EXECUTIVE OFFICER WILL REVIEW AND SIGN THE 990. A COPY OF THE 990 WILL BE PRESENTED TO THE BOARD OF DIRECTORS. IF THERE IS SUFFICIENT TIME BEFORE THE FILING DUE DATE, THE BOARD WILL REVIEW, DISCUSS, AND APPROVE THE 990 BEFORE IT IS ELECTRONICALLY FILED WITH THE IRS. OTHERWISE, THE BOARD WILL REVIEW, DISCUSS AND APPROVE OR RECOMMEND AN AMENDMENT OF THE 990 AFTER IT HAS BEEN ELECTRONICALLY FILED. FORM 990, PART VI, SECTION B, LINE 12C PURSUANT TO THE CONFLICT OF INTEREST POLICY ADOPTED BY THE BOARD OF DIRECTORS, ALL MEMBERS OF THE BOARD OF DIRECTORS AND ALL OFFICERS HAVE A FIDUCIARY DUTY TO ACT AT ALL TIMES IN THE BEST INTERESTS OF THE ASSOCIATION, AND HAVE AN AFFIRMATIVE OBLIGATION TO (1) IDENTIFY AND DISCLOSE THE EXISTENCE OF ANY FACTS OR CIRCUMSTANCES THAT MAY CONSTITUTE ACTUAL OR POTENTIAL CONFLICTS OF INTEREST, AND (2) MINIMIZE THE IMPACT OF SUCH CONFLICTS ON THE ACTIONS OF IRI WHENEVER POSSIBLE. WHEN ACTING IN THEIR CAPACITY AS A DIRECTOR OR OFFICER, ALL DIRECTORS AND OFFICERS MUST DISCLOSE ANY BUSINESS, PROFESSIONAL, OR PERSONAL INTEREST OR OTHER CONFLICT OF INTEREST IN A MATTER OR ANY RELATIONSHIP THAT MAY CALL INTO QUESTION WHETHER THE COVERED INDIVIDUAL IS ACTING IN THE BEST INTERESTS OF THE ASSOCIATION BEFORE PARTICIPATING IN ANY DECISION-MAKING OR TAKING ANY ACTION ON BEHALF OF THE ASSOCIATION REGARDING THAT MATTER. ALL DIRECTORS AND OFFICERS MUST SUBORDINATE PERSONAL, BUSINESS, THIRD-PARTY, AND OTHER INTERESTS TO THE WELFARE AND BEST INTERESTS OF THE ASSOCIATION. THE BOARD OF DIRECTORS HAS DELEGATED ITS AUTHORITY TO REVIEW AND RESOLVE ANY ACTUAL OR POTENTIAL CONFLICTS OF INTEREST TO THE EXECUTIVE COMMITTEE. ONLY DISINTERESTED MEMBERS OF THE EXECUTIVE COMMITTEE MAY PARTICIPATE IN ANY SUCH REVIEW. THE DISINTERESTED MEMBERS OF THE EXECUTIVE COMMITTEE SHALL DETERMINE WHETHER A CONFLICT EXISTS THAT IS REASONABLY LIKELY TO HAVE A MATERIAL AND ADVERSE IMPACT ON THE INTERESTS OF THE ASSOCIATION, AND IF SO, THE EXECUTIVE COMMITTEE SHALL DETERMINE WHETHER DISCLOSURE IS SUFFICIENT TO ADDRESS THE CONFLICT OR IF FURTHER REMEDIAL MEASURES ARE REQUIRED. REMEDIAL MEASURES MAY INCLUDE BUT ARE NOT LIMITED TO RECUSAL OF THE COVERED INDIVIDUAL FROM DELIBERATION, DEBATE, AND/OR VOTING RELATED TO PARTICULAR MATTERS PENDING BEFORE THE BOARD OR OTHER IRI MEMBER GROUPS. THE SPECIFIC RESPONSE WILL BE DETERMINED BASED ON THE NATURE OF THE CONFLICT, ITS POTENTIAL FOR AFFECTING THE COVERED INDIVIDUAL'S UNDIVIDED LOYALTY TO IRI, THE SIGNIFICANCE OF THE IRI DECISION OR ACTION, AND ANY OTHER RELEVANT FACTORS. THE EXECUTIVE COMMITTEE SHALL INFORM THE BOARD OF SUCH DETERMINATIONS AND REMEDIAL MEASURES. THE BOARD RETAINS ULTIMATE ENFORCEMENT AUTHORITY WITH RESPECT TO THE INTERPRETATION AND APPLICATION OF THIS POLICY AND AS SUCH, MAY MODIFY OR REVERSE SUCH DETERMINATIONS AND REMEDIAL MEASURES. FORM 990, PART VI, SECTION B, LINE 15 THE EXECUTIVE COMMITTEE REVIEWS THE PRESIDENT/CHIEF EXECUTIVE OFFICER (CEO)'S PERFORMANCE ANNUALLY AND DETERMINES THE OFFICER'S SALARY INCREASE OR BONUS. THE PRESIDENT/CEO DETERMINES COMPENSATION ADJUSTMENTS FOR ALL OTHER STAFF. JOB DESCRIPTIONS WERE UPDATED IN 2020 AND A COMPLETE COMPENSATION REVIEW WAS CONDUCTED IN 2022. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. INSURED RETIREMENT INSTITUTE POLITICAL ACTION COMMITTEE 1100 VERMONT AVENUE NW 10TH FL WASHINGTON DC 20005 273719919 POLITICAL ACTION COMMITTEE DC 527 INSURED RETIREMENT INSTITUTE INC 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0