2023-02-09T15:52:07-06:00 2021-12-31 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 300 TICE BOULEVARD SUITE 315 WOODCLIFF LAKE NJ 07677 990 2021-01-01 132940919 ACORD CORPORATION ACOR 8456201700 ONE BLUE HILL PLAZA 2ND FLOOR PEARL RIVER NY 10965 TANYA KROCHTA SVP & CHIEF ADMIN. OFFICER 8456201700 2023-02-09 1 TANYA KROCHTA 999009999 JOSEPH N RUSSELL P00168046 2017129800 2023-02-01 3 AAL1 IAL1 2021 2023-03-07 01:45:13Z WILLIAM PIERONI ONE BLUE HILL PLAZA 2ND FLOOR PEARL RIVER NY 10965 27916706 0 X WWW.ACORD.ORG X 1978 DE TO PROMOTE THE INTERESTS OF AND IMPROVE THE EFFICIENCY AND EFFECTIVENESS OF ALL TRADING PARTNERS WITHIN THE VARIOUS SEGMENTS OF THE INSURANCE AND RELATED FINANCIAL SERVICES INDUSTRIES. 22 21 80 28 0 0 0 0 25035467 27534826 258081 340854 0 0 25293548 27875680 0 0 0 0 8890282 6750083 0 0 0 5310739 5339365 14201021 12089448 11092527 15786232 42845098 47591189 12375386 11535143 30469712 36056046 X THE ASSOCIATION FOR COOPERATIVE OPERATIONS RESEARCH AND DEVELOPMENT ("ACORD") IS A NOT-FOR-PROFIT CORPORATION ORGANIZED TO PROMOTE THE INTERESTS OF AND IMPROVE THE EFFICIENCY AND EFFECTIVENESS OF ALL TRADING PARTNERS WITHIN THE VARIOUS SEGMENTS OF THE INSURANCE AND PROMOTING THE INTERESTS OF AND IMPROVING THE EFFICIENCY AND EFFECTIVENESS OF ALL TRADING PARTNERS WITHIN THE VARIOUS SEGMENTS OF THE INSURANCE AND RELATED FINANCIAL SERVICES INDUSTRIES BY DEVELOPING STANDARDS, SPECIFICATIONS, AND RELATED IMPLEMENTATIONS TOOLS FOR THE ELECTRONIC EXCHANGE OF INFORMATION AND OTHER INFORMATION PROCESSING. ACORD ALSO SERVES THE PUBLIC INTEREST AND THE INTERESTS OF CONSUMERS OF INSURANCE AND RELATED FINANCIAL SERVICES THROUGH ANALYSIS, EDUCATION, STANDARDS SETTING AND RESEARCH & DEVELOPMENT ACTIVITIES CONCERNING THE ELECTRONIC EXCHANGE OF INFORMATION AND OTHER INFORMATION PROCESSING. 0 0 PROMOTING THE INTERESTS OF AND IMPROVING THE EFFICIENCY AND EFFECTIVENESS OF ALL TRADING PARTNERS WITHIN THE VARIOUS SEGMENTS OF THE INSURANCE AND RELATED FINANCIAL SERVICES INDUSTRIES BY DEVELOPING STANDARDS, SPECIFICATIONS, AND RELATED IMPLEMENTATIONS TOOLS FOR THE ELECTRONIC EXCHANGE OF INFORMATION AND OTHER INFORMATION PROCESSING. ACORD ALSO SERVES THE PUBLIC INTEREST AND THE INTERESTS OF CONSUMERS OF INSURANCE AND RELATED FINANCIAL SERVICES THROUGH ANALYSIS, EDUCATION, STANDARDS SETTING AND RESEARCH & DEVELOPMENT ACTIVITIES CONCERNING THE ELECTRONIC EXCHANGE OF INFORMATION AND OTHER INFORMATION PROCESSING. 0 0 0 1 0 0 0 0 0 1 1 0 0 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 1 1 0 0 1 20 0 80 1 0 1 UK 0 0 0 0 1 0 X 22 21 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X LISA PLUNKETT 8456201700 ONE BLUE HILL PLAZA 2ND FLOOR PEARL RIVER NY 10965 WILLIAM PIERONI PRESIDENT & CEO 40.00 X X 2307493 0 376953 ROBERT KELLY CHAIR 1.00 X X 0 0 0 KEVIN TOBIN VICE-CHAIR 1.00 X X 0 0 0 KIRK BEHRENS VICE-CHAIR, THRU 3/2021 1.00 X X 0 0 0 JOHN ARTESANI DIRECTOR 1.00 X 0 0 0 COLLEEN BATMAN DIRECTOR 1.00 X 0 0 0 MARK BERTHIAUME DIRECTOR, THRU 4/2021 1.00 X 0 0 0 RICHARD BRAME DIRECTOR 1.00 X 0 0 0 REBECCA BUNYAN DIRECTOR 1.00 X 0 0 0 CHRISTOPH CARUS DIRECTOR, THRU 10/2021 1.00 X 0 0 0 MARK COOK DIRECTOR, THRU 3/2021 1.00 X 0 0 0 BILL DEVINE DIRECTOR 1.00 X 0 0 0 IAN HAYCOCK DIRECTOR 1.00 X 0 0 0 JOHN KELLINGTON DIRECTOR 1.00 X 0 0 0 KEVIN KENNEDY DIRECTOR, THRU 3/2021 1.00 X 0 0 0 MARK KNIPFER DIRECTOR 1.00 X 0 0 0 VENKAT KRISHNAMOORTHY DIRECTOR 1.00 X 0 0 0 JENNIFER KYUNG DIRECTOR 1.00 X 0 0 0 STEVE LUNDIN DIRECTOR 1.00 X 0 0 0 IAN MACARTNEY DIRECTOR 1.00 X 0 0 0 DAVE MATCHAM DIRECTOR 1.00 X 0 0 0 RICHARD MCCOACH FCII DIRECTOR 1.00 X 0 0 0 PATRICK MOLINEUX DIRECTOR 1.00 X 0 0 0 DAVID O'LEARY DIRECTOR, THRU 6/2021 1.00 X 0 0 0 ROBERT RUSBULDT DIRECTOR 1.00 X 0 0 0 DR CHRISTIAN SCHAFFER DIRECTOR 1.00 X 0 0 0 DR RALF SCHNEIDER DIRECTOR 1.00 X 0 0 0 VLAD YEKELCHIK DIRECTOR 1.00 X 0 0 0 TANYA J KROCHTA EXECUTIVE VP & CHIEF ADMINISTRATIVE OFFICER 40.00 X 492217 0 79067 MARIA LOURDES T AUGUST SVP, BUSINESS DEVELOPMENT 40.00 X 259044 0 72841 ANDREW J ZUCKERMAN SVP, GOVERNMENT AFFAIRS & GENERAL COUNSEL 40.00 X 245954 0 70761 DAVID STERNER VP, RESEARCH & DEVELOPMENT 40.00 X 231264 0 70160 BIJESH JACOB SVP, TECHNOLOGY & STANDARDS 20.00 20.00 X 190743 185124 64890 RAKESH TANGRI SVP, GLOBAL CHIEF SOLUTIONS ARCHITECT 14.00 26.00 X 127068 223164 1919 HOWARD SCHUSTER VP, PMO 13.00 27.00 X 75861 151441 65077 ROBERT HAYES VP, FINANCIAL OPERATIONS 40.00 X 151619 0 64012 LISA PLUNKETT SENIOR DIRECTOR OF FINANCE 40.00 X 154657 0 7959 4235920 559729 873639 16 0 1 0 XORIANT CORPORATION 1248 REAMWOOD AVENUE SUNNYVALE CA 94089 INFORMATION TECHNOLOGY SERVICES 1738682 BOURNTEC SOLUTIONS INC 1701 EAST WOODFIELD ROAD SUITE 200 SCHAUMBURG IL 60173 INFORMATION TECHNOLOGY SERVICES 1452908 LARSEN & TOUBRO INFOTECH LIMITED 2035 STATE ROUTE 27 SUITE 3000 EDISON NJ 08817 INFORMATION TECHNOLOGY SERVICES 573690 AMAZON WEB SERVICES INC 410 TERRY AVENUE NORTH SEATTLE WA 98109 INFORMATION TECHNOLOGY SERVICES 538163 RI CONSULT LTD FLAT 4 63 PUTNEY BRIDGE ROAD LONDON ENGLAND UK SW18 1PD CONSULTING SERVICES 413858 20 MEMBERSHIP DUES 524298 16919651 16919651 PRODUCT AND OTHER SERVICES 524298 6055254 6055254 SUBSCRIPTION FEES 524298 4559921 4559921 27534826 341418 341418 40462 41026 -564 -564 -564 27875680 27534826 0 340854 4205754 1289329 278885 398942 577173 158455 457891 40000 912417 36648 527649 566669 1384683 43940 44805 467311 175080 BAD DEBT EXPENSE 249287 EXCISE TAXES 225000 REPAIR AND MAINTENANCE 24632 MISCELLANEOUS EXPENSES 20783 4115 12089448 45682 45682 8848376 9407143 880812 112089 500369 662473 4631645 3041666 1794130 1589979 25306197 27763488 5003665 7304473 465867 705862 42845098 47591189 3850784 3360517 6185089 6529519 2339513 1645107 12375386 11535143 X 0 0 0 0 30469712 36056046 30469712 36056046 42845098 47591189 X 15786232 1223053 -11422951 X X 0 1 X 1 0 0 1 0 4631645 3041666 1589979 1589979 INVESTMENT IN SUBSIDIARY 7304473 C 7304473 PENSION LIABILITY 819080 DEFERRED COMPENSATION LIABILITY 826027 1645107 X 31597898 1223053 3029941 4252994 27344904 40000 490776 530776 27875680 26011564 26604048 26604048 -592484 40000 12641932 12681932 12089448 PART X, LINE 2: ACORD ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD IS MET. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUES FROM CONSOLIDATED ENTITY 2,301,736. CHANGE IN ACCRUED PENSION LIABILITY 728,205. PART XI, LINE 4B - OTHER ADJUSTMENTS: ELIMINATIONS 490,776. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES FROM CONSOLIDATED ENTITY 14,452,892. LOSS ON INVESTMENTS IN SUBSIDIARY 12,151,156. PART XII, LINE 4B - OTHER ADJUSTMENTS: ELIMINATIONS 490,776. LOSS ON INVESTMENT IN SUBSIDIARY 12,151,156. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 1 10 PROGRAM SERVICES MEMBERSHIP SERVICES 2754042 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 1 PROGRAM SERVICES CONSULTING 413858 1 11 0 0 1 11 3167900 0 3167900 0 0 0 0 0 0 PART III ACCOUNTING METHOD: X 1 1 X X X X 0 1 0 WILLIAM PIERONI PRESIDENT & CEO 1059826 0 1000000 0 247667 0 302833 0 74120 0 2684446 0 0 0 TANYA J KROCHTA EXECUTIVE VP & CHIEF ADMINISTRATIVE 152644 0 250000 0 89573 0 0 0 79067 0 571284 0 0 0 BIJESH JACOB SVP, TECHNOLOGY & STANDARDS 55598 113304 135000 0 145 71820 0 0 32930 31960 223673 217084 0 0 RAKESH TANGRI SVP, GLOBAL CHIEF SOLUTIONS ARCHITEC 51923 213731 75000 0 145 9433 0 0 696 1223 127764 224387 0 0 MARIA LOURDES T AUGUST SVP, BUSINESS DEVELOPMENT 104032 0 70000 0 85012 0 0 0 72841 0 331885 0 0 0 ANDREW J ZUCKERMAN SVP, GOVERNMENT AFFAIRS & GENERAL CO 86835 0 75000 0 84119 0 0 0 70761 0 316715 0 0 0 DAVID STERNER VP, RESEARCH & DEVELOPMENT 110336 0 40000 0 80928 0 0 0 70160 0 301424 0 0 0 HOWARD SCHUSTER VP, PMO 45444 71061 30000 0 417 80380 0 0 21719 43358 97580 194799 0 0 ROBERT HAYES VP, FINANCIAL OPERATIONS 23664 0 45000 0 82955 0 0 0 64012 0 215631 0 0 0 LISA PLUNKETT SENIOR DIRECTOR OF FINANCE 109337 0 30000 0 15320 0 0 0 7959 0 162616 0 0 0 PART I, LINE 4B THE FOLLOWING EMPLOYEES PARTICIPATED IN A 457(F) PLAN IN THEIR 2021 W2: 1. WILLIAM PIERONI, 283,333 PART I, LINE 7 EMPLOYEES OF THE ORGANIZATION RECEIVED A BOARD-APPROVED DISCRETIONARY BONUS, AWARDED BASED ON PERFORMANCE, AS REPORTED FOR THEM IN PART II, COLUMN B(II). NICOLAS PIERONI HAS A FAMILY RELATIONSHIP WITH WILLIAM PIERONI 20581 EMPLOYMENT 0 FORM 990, PART VI, SECTION A, LINE 6 THE FOLLOWING MAY BECOME REGULAR MEMBERS OF THE CORPORATION, AS DEFINED IN THE CERTIFICATE OF INCORPORATION, AND SHALL BE REFERRED TO IN THESE BYLAWS AS CORPORATE MEMBERS OF THE CORPORATION: - ANY ORGANIZATION ENGAGED IN THE BUSINESS OF UNDERWRITING, AND/OR SELLING, DISTRIBUTING OR OTHERWISE PROVIDING PROPERTY, CASUALTY, LIFE OR HEALTH INSURANCE, SURETY AND ANNUITIES, OR REINSURANCE; - ANY NON-INSURANCE FOR-PROFIT ORGANIZATION NOT ALSO QUALIFYING TO BE AN ORGANIZATION DESCRIBED IN SECTIONS 2A I OR 2A II OF BY-LAWS HEREOF, AND -ANY NOT-FOR-PROFIT TRADE ASSOCIATION REPRESENTING ORGANIZATIONS DESCRIBED IN SECTION 1A OR 1 B OF THE BY-LAWS, INCLUDING SUCH ORGANIZATIONS THAT MAY ALSO REPRESENT INDIVIDUALS. THE FOLLOWING MAY BECOME ASSOCIATE MEMBERS OF THE CORPORATION, AS DEFINED IN THE CERTIFICATE OF INCORPORATION, AND SHALL BE REFERRED TO IN THESE BYLAWS AS ASSOCIATE MEMBERS OF THE CORPORATION: - ANY ORGANIZATION WHOSE PRIMARY BUSINESS IS PROVIDING HARDWARE, SOFTWARE, TECHNOLOGY OR RELATED SERVICES; - ANY USER GROUP FORMED BY AN ORGANIZATION DESCRIBED IN SECTION 2A I OF BY-LAWS HEREOF OR ITS CUSTOMERS HAVING A COMMON INTEREST IN SPECIFIC PRODUCTS AND SERVICES PURCHASED FROM THAT ORGANIZATION; AND -THE GOVERNMENT OF THE UNITED STATES OR ANY SOVEREIGN NATION, ANY OF THEIR RESPECTIVE STATES OR POLITICAL SUBDIVISIONS, ANY REGIONAL AUTHORITY OF ANY OF THE FOREGOING, AND ANY AGENCY OR OTHER ORGANIZATION CREATED BY ANY OF THE FOREGOING. THE FOLLOWING SHALL BE ASSOCIATE MEMBERS OF THE CORPORATION, AS DEFINED IN THE CERTIFICATE OF INCORPORATION, AND SHALL BE REFERRED TO IN THESE BYLAWS AS SUBSCRIBER MEMBERS OF THE CORPORATION: - ANY ORGANIZATION WHICH, FOR DIRECT OR INDIRECT PAYMENT TO THE CORPORATION, SUBSCRIBES FOR SPECIFIC GOODS OR SERVICES UNDER A SUBSCRIBER PROGRAM APPROVED BY THE BOARD OF DIRECTORS OR A DESIGNATED COMMITTEE OF THE BOARD. EVERY MEMBER OF THE CORPORATION SHALL DESIGNATE A REPRESENTATIVE AND AN ALTERNATE TO REPRESENT IT IN REGARD TO CORPORATION MATTERS AND SHALL GIVE NOTICE IN WRITING OF SUCH DESIGNATION TO THE SECRETARY OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A BOARD OF DIRECTORS' APPROVAL OF INDIVIDUALS NOMINATED FOR BOARD MEMBERSHIP BY THE BOARD'S EXECUTIVE COMMITTEE IS SUBJECT TO ELECTION BY A PLURALITY VOTE OF ACORD MEMBERS ELIGIBLE TO VOTE ON SUCH MATTERS WHO ARE PRESENT AND VOTING IN PERSON OR BY PROXY AT THE MEETING AT WHICH THE NOMINEES ARE VOTED UPON. FORM 990, PART VI, SECTION A, LINE 7B BOARD OF DIRECTORS' APPROVAL OF AMENDMENTS TO ACORD'S BYLAWS IS SUBJECT TO A MAJORITY VOTE OF ACORD MEMBERS ELIGIBLE TO VOTE ON SUCH MATTERS WHO ARE PRESENT IN PERSON OR REPRESENTED BY PROXY AT ANY MEETING OF ACORD. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. AFTER THE FORM 990 HAS BEEN PREPARED THE ORGANIZATION PROVIDES A COPY TO THE AUDIT COMMITTEE FOR REVIEW AND ANY COMMENTS. ONCE ALL COMMENTS HAVE BEEN ADDRESSED THE RETURN IS SUBMITTED TO THE INTERNAL REVENUE SERVICE FOR FILING. THE 990 IS NOT REVIEWED BY THE ENTIRE BOARD BEFORE FILING WITH THE IRS BUT IS AVAILABLE TO BE POSTED ON THE BOARD'S WEBSITE IF NEEDED. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, THE ORGANIZATION'S DIRECTORS (REGARDING NON-TRANSACTION-SPECIFIC MATTERS), OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO RESPOND TO THE CONFLICT OF INTEREST DISCLOSURE POLICY AND DOCUMENTS ARE REVIEWED INITIALLY BY HOUSE COUNSEL FOR POSSIBLE REFERRAL TO THE PRESIDENT OF THE ORGANIZATION FOR FURTHER CONSIDERATION AND APPROPRIATE ACTION IF WARRANTED. CERTAIN RESPONSES, INCLUDING THOSE FROM NON-KEY-EMPLOYEE STAFF MEMBERS, MAY BE ADDRESSED IN THE FIRST INSTANCE DIRECTLY TO THE PRESIDENT OF THE ORGANIZATION OR BROUGHT TO THE ATTENTION OF THE HEAD OF THE HUMAN RESOURCES DEPARTMENT FOR CONSIDERATION AND POSSIBLE REFERRAL TO THE PRESIDENT OF THE ORGANIZATION FOR FURTHER CONSIDERATION AND APPROPRIATE ACTION IF WARRANTED. A DIRECTOR OR OFFICER DISCLOSING A POTENTIAL CONFLICT REGARDING A PARTICULAR TRANSACTION MAKES THE DISCLOSURE TO THE PRESIDENT OR CHAIRMAN OF THE BOARD OF DIRECTORS (CHAIR) THROUGH THE CORPORATE SECRETARY FOR DETERMINATION AS TO WHETHER THERE IS IN FACT A CONFLICT OR APPEARANCE OF A CONFLICT. IN THE CASE OF A DIRECTOR, IF IT IS DETERMINED THAT A CONFLICT OR APPARENT CONFLICT EXISTS REGARDING A PARTICULAR TRANSACTION, THE CONFLICT OR APPARENT CONFLICT IS REPORTED TO THE EXECUTIVE COMMITTEE OR THE FULL BOARD. IF THE PARTICULAR TRANSACTION REQUIRES A VOTE OF THE BOARD OR ONE OF ITS COMMITTEES, THE AFFECTED DIRECTOR DOES NOT VOTE ON THE MATTER. IN THE CASE OF AN OFFICER, IF IT IS DETERMINED THAT THERE IS IN FACT A CONFLICT REGARDING A PARTICULAR TRANSACTION, THE PRESIDENT OR CHAIR EXERCISES BEST JUDGMENT ON THE APPROPRIATE COURSE TO FOLLOW. THIS MAY INCLUDE APPROVING THE TRANSACTION IF THE PRESIDENT OR CHAIR IS REASONABLY CERTAIN THAT THE BEST INTERESTS OF THE ORGANIZATION WILL BE SERVED BY SUCH AN APPROACH; REFERRING THE ISSUE TO LEGAL COUNSEL FOR ADVICE; OR REFERRING THE ISSUE TO THE FULL BOARD OR APPROPRIATE BOARD COMMITTEE FOR DECISION. IN THE CASE OF A POTENTIAL CONFLICT REGARDING A PARTICULAR TRANSACTION INVOLVING EITHER THE PRESIDENT OR THE CHAIR, THE AFFECTED PARTY NOTIFIES THE OTHER THROUGH THE CORPORATE SECRETARY WITH THE CONFLICT THEN BEING REPORTED TO THE FULL BOARD. IF THE PARTICULAR TRANSACTION REQUIRES A VOTE OF THE BOARD OR ONE OF ITS COMMITTEES, THE PRESIDENT OR CHAIR DOES NOT VOTE ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE CEO, SENIOR MANAGEMENT TEAM, AND OTHER OFFICERS AND EMPLOYEES' COMPENSATION IS REVIEWED ANNUALLY BY A COMPENSATION COMMITTEE USING COMPENSATION STUDIES AND COMPARING COMPENSATION TO OTHER SIMILAR-SIZED ORGANIZATIONS. ONCE FINALIZED, THE COMMITTEE WILL SEND ITS APPROVAL. THIS PROCESS WAS LAST UNDERTAKEN IN 2021. COMPENSATION WAS DOCUMENTED IN A MEETING THAT WAS NOT INCLUDED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS OF THE CORPORATION ARE AVAILABLE ON THE COMPANY'S PUBLIC WEBSITE. ACORD DOES NOT MAKE THE CONFLICT OF INTEREST POLICY, THE FINANCIAL STATEMENTS, OR FORM 990 AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN ACCRUED PENSION LIABILITY TO BE RECOGNIZED IN FUTURE PERIODS 728,205. LOSS ON INVESTMENT IN SUBSIDIARY - CURRENT YEAR -12,151,156. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT IS RESPONSIBLE FOR SELECTING AN INDEPENDENT ACCOUNTANT AND FOR THE OVERSIGHT OF THE AUDIT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. ACORD SOLUTIONS GROUP INC 1 BLUE HILL PLAZA PEARL RIVER NY 10965 812988120 INSURANCE RELATED SUPPORT NY ACORD CORPORATION C 2301736 9243126 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 ACORD SOLUTIONS GROUP N 545821 CASH ACORD SOLUTIONS GROUP O 3407226 CASH