2022-05-17T10:36:12-05:00 2021-12-31 871353108 EISNER ADVISORY GROUP LLC 733 THIRD AVENUE NEW YORK NY 100172703 990 2021-01-01 131331235 SPECIAL FUNDS CONSERVATION COMMITTEE SPEC 2125429748 CO GRANT THORNTON 757 THIRD AVE NEW YORK NY 10017 RICHARD VANDERBEEK COO 2125429748 2022-05-16 1 RICHARD VANDERBEEK 999009999 CANDICE METH P01306891 2129498700 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z RICHARD VANDERBEEK C/O GRANT THORNTON 757 3RD AVENUE NEW YORK NY 10017 0 0 X N/A X 1938 NY SEE SCHEDULE O.THE SPECIAL FUNDS CONSERVATION COMMITTEE (THE "COMMITTEE") WAS ORGANIZED IN NEW YORK STATE IN 1938 FOR THE PURPOSE OF CONSERVING THE ASSETS OF THE "SPECIAL FUNDS CREATED UNDER SUBDIVISION OF SECTIONS 15 AND 25-A OF THE WORKERS' COMPENSATION LAW OF THE STATE OF NEW YORK. IT PERFORMED SERVICES IN CONNECTION WITH SPECIAL FUNDS AND COOPERATES WITH THE CHAIRMAN AND MEMBERS OF THE NEW YORK WORKERS' COMPENSATION BOARD, THE SUPERINTENDENT OF INSURANCE, AND ANY OTHER PUBLIC OFFICIAL WHOSE DUTIES ARE CONCERNED WITH THE OPERATION OF THE SPECIAL FUNDS. AS DESCRIBED IN PART III, LINE 3, THE EXPECTED DATE OF DISSOLUTION IS DECEMBER 31, 2025. FURTHER, THE OPERATIONS OF THE COMMITTEE HAVE BEEN AMENDED SUCH THAT THE COMMITTEE WILL ONLY ENGAGE IN ACTIVITIES RELATED TO THE WIND-DOWN OF THE COMMITTEE UNTIL DISSOLUTION. X 2 2 0 2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 71528 92737 71528 92737 -71528 -92737 4862681 4266287 2365220 1867896 2497461 2398391 X SEE SCHEDULE O. 0 1 THE COMMITTEE'S PROGRAM IS INDICATED IN THE MISSION STATEMENT. ALL EXPENSES INCURRED WERE TO ADVANCE THE MISSION. THE COMMITTEE WAS RESPONSIBLE FOR HANDLING 25-A FILES, PROCESSING MEDICAL BILLS AND ATTENDING HEARINGS FOR 25-A FILES. THE CURRENT OPERATIONS AND EXPENSES OF THE COMMITTEE RELATE TO THE WIND-DOWN OF THE COMMITTEE UNTIL DISSOLUTION. 0 0 0 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 0 0 0 0 0 0 1 0 0 1 0 0 1 5 0 1 0 0 0 0 0 0 0 0 0 X 2 2 0 1 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 0 0 0 X RICHARD VANDERBEEK 2125429748 C/O GRANT THORNTON 757 THIRD AVE NEW YORK NY 10017 X X JEREMY ATTIE BOARD MEMBER 2.00 0.00 X 0 0 0 WILLIAM GANTRIX BOARD MEMBER 2.00 0.00 X 0 0 0 RICHARD VANDERBEEK CHIEF OPERATING OFFICER 10.75 0.00 X 0 0 0 0 0 0 0 0 0 0 BINH LY MAGNOLIA COURT APT 3A OZONE PARK NY 11417 CONSULTING 160320 GRANT THORNTON LLP 33562 TREASURY CENTER CHICAGO IL 60694 CONSULTING 106966 2 0 0 0 0 X 5465 32000 55272 92737 3073453 2944307 1788730 1321980 498 4862681 4266287 2365220 1867896 2365220 1867896 X 2497461 2398391 2497461 2398391 4862681 4266287 X -92737 -6333 X X 0 1 X 1 0 1 1 0 PART III-A THE COMMITTEE IS A SECTION 501(C)(6) ORGANIZATION THAT HAD PREVIOUSLY RECEIVED ASSESSMENTS. AS DESCRIBED IN SCHEDULE N, PART 1, THE COMMITTEE CEASED TO CARRY OUT ITS HISTORICAL BUSINESS AND AFFAIRS ON DECEMBER 31, 2018, AND SINCE SUCH DATE HAS ONLY ENGAGED IN ACTIVITIES AND BUSINESS APPURTENANT TO ITS WIND-DOWN AS CONTEMPLATED BY THIS PLAN (THE "WIND-DOWN"). 0 X PART X, LINE 2: THE COMMITTEE FOLLOWS THE PROVISIONS OF THE FINANCIAL ACCOUNTING STANDARDS BOARD'S ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740, INCOME TAXES, RELATING TO ACCOUNTING AND REPORTING FOR UNCERTAINTY IN INCOME TAXES. BECAUSE OF THE COMMITTEE'S GENERAL TAX-EXEMPT STATUS, MANAGEMENT BELIEVES ASC TOPIC 740 HAS NOT HAD, AND IS NOT EXPECTED TO HAVE, A MATERIAL IMPACT ON THE COMMITTEE'S CONSOLIDATED FINANCIAL STATEMENTS. SEE PART III, LINE 2E FOR EXPLANATION. 0 0 0 1 1 0 0 1 0 PART I, LINE 2E: PERSON(S) INVOLVED: IN CONJUCTION WITH THE LIQUIDATION, THE COMMITTEE HAS RETAINED GRANT THORNTON LLP AS THE FINANCIAL ADVISOR TO ACT AS COO AND TRUSTEE OF THE COMMITTEE, IN AN EFFORT TO MANAGE THE LIQUIDATION PROCESS. FURTHER, THE COO IS NOT A PAID EMPLOYEE OF THE COMMITTEE. PART I, LINE 2E: EXPLANATION OF INVOLVEMENT: ON DECEMBER 14, 2018, THE SFCC WIND-DOWN TRUST (THE "TRUST") WAS FORMED TO HOLD CERTAIN FUNDS OF SPECIAL FUNDS CONSERVATION COMMITTEE (THE "COMMITTEE"). THE PRINCIPAL OF THE FUNDS DEPOSITED IN THE TRUST ACCOUNT HELD BY THE SFCC WIND-DOWN TRUST (EIN# 35-7227012). THE COMMITTEE HASRETAINED A THIRD PARTY AS THE FINANCIAL ADVISOR TO ACT AS TRUSTEE OF THE TRUST. THE EXECUTIVE COMMITTEE OF THE COMMITTEE HAS THE AUTHORITY TO APPROVE EXPENDITURES TO BE DISBURSED BY THE TRUST AND ACCORDINGLY, THE TRUST IS CONSOLIDATED WITHIN THE COMMITTEE.ON DECEMBER 20, 2018, THE EXECUTIVE COMMITTEE OF THE COMMITTEE VOTED TO ADOPT THE PLAN OF DISSOLUTION, DATED DECEMBER 20, 2018 FOR WINDING DOWN AND DISSOLVING THE COMMITTEE (THE "PLAN"). ACCORDINGLY, THE COMMITTEE CEASED TO CARRY OUT ITS HISTORICAL BUSINESS AND AFFAIRS ON DECEMBER 31,2018, AND SINCE SUCH DATE HAS ONLY ENGAGED, AND WILL CONTINUE TO ONLY ENGAGE IN ACTIVITIES AND BUSINESS APPURTENANT TO ITS WIND-DOWN AS CONTEMPLATED BY THIS PLAN (THE "WIND-DOWN"). THE COMMITTEE HAS ADOPTED THE LIQUIDATION BASIS OF ACCOUNTING AS OF DECEMBER 20, 2018. THE EXPECTED DATE OF DISSOLUTION IS DECEMBER 31, 2025. PART I, LINE 3: SEE PART I, LINE 1 FOR EXPLANATION. FORM 990, PART III, LINE 3 ON DECEMBER 14, 2018, THE SFCC WIND-DOWN TRUST (THE "TRUST") WAS FORMED TO HOLD CERTAIN FUNDS OF SPECIAL FUNDS CONSERVATION COMMITTEE (THE "COMMITTEE"). THE PRINCIPAL OF THE FUNDS DEPOSITED IN THE TRUST ACCOUNT AND INCOME GENERATED ON THE PRINCIPAL IS TO BE EXPENDED FOR THE SOLE PURPOSE OF FUNDING ANY LITIGATION-RELATED LIABILITIES OF THE COMMITTEE INCURRED IN CONJUNCTION WITH THE WIND-DOWN OF THE COMMITTEE. THE COMMITTEE HAS RETAINED A THIRD PARTY AS THE FINANCIAL ADVISOR TO ACT AS TRUSTEE OF THE TRUST. THE EXECUTIVE COMMITTEE OF THE COMMITTEE HAS THE AUTHORITY TO APPROVE EXPENDITURES TO BE DISBURSED BY THE TRUST AND ACCORDINGLY, THE TRUST IS CONSOLIDATED WITHIN THE COMMITTEE. ON DECEMBER 20, 2018, THE EXECUTIVE COMMITTEE OF THE COMMITTEE VOTED TO ADOPT THE PLAN OF DISSOLUTION, DATED DECEMBER 20, 2018 FOR WINDING DOWN AND DISSOLVING THE COMMITTEE (THE "PLAN"). ACCORDINGLY, THE COMMITTEE CEASED TO CARRY OUT ITS HISTORICAL BUSINESS AND AFFAIRS ON DECEMBER 31, 2018, AND SINCE SUCH DATE HAS ONLY ENGAGED, AND WILL CONTINUE TO ONLY ENGAGE IN ACTIVITIES AND BUSINESS APPURTENANT TO ITS WIND-DOWN AS CONTEMPLATED BY THIS PLAN (THE "WIND-DOWN"). THE COMMITTEE HAS ADOPTED THE LIQUIDATION BASIS OF ACCOUNTING AS OF DECEMBER 20, 2018. THE DISTRIBUTION OF ASSETS AND LIABILITIES COMMENCED IN 2019. THE COMMITTEE HAS RETAINED GRANT THORNTON LLP AS THE FINANCIAL ADVISOR TO ACT AS CHIEF OPERATING OFFICER AND TRUSTEE OF THE COMMITTEE IN AN EFFORT TO MANAGE THE WIND-DOWN PROCESS. THE EXPECTED DATE OF DISSOLUTION IS DECEMBER 31, 2025. FORM 990, PART VI, SECTION A, LINE 3 IN CONJUCTION WITH THE LIQUIDATION, THE COMMITTEE HAS RETAINED GRANT THORNTON LLP AS THE FINANCIAL ADVISOR TO ACT AS COO AND TRUSTEE OF THE COMMITTEE, IN AN EFFORT TO MANAGE THE LIQUIDATION PROCESS. FURTHER, THE COO IS NOT A PAID EMPLOYEE OF THE COMMITTEE (SEE PART VII). FORM 990, PART VI, SECTION A, LINE 6 THE TWO VOTING MEMBER POSITIONS OF THE COMMITTEE ARE HELD BY REPRESENTATIVES OF ORGANIZATIONS. REPRESENTATIVES ARE FROM THE NEW YORK STATE INSURANCE FUND AND THE NEW YORK COMPENSATION RATING BOARD. THE REPRESENTATIVES ARE SELECTED BY THE COMMITTEE. THE BUDGET WAS APPROVED BY THE EXECUTIVE COMMITEE. THE EXECUTIVE COMMITTEE IS COMPRISED OF THE FULL BOARD. FORM 990, PART VI, SECTION A, LINE 7A SEE SCHEDULE O EXPLANATION TO FORM 990, PART VI, SECTION A, LINE 6. FORM 990, PART VI, SECTION A, LINE 7B SEE SCHEDULE O EXPLANATION TO FORM 990, PART VI, SECTION A, LINE 6. FORM 990, PART VI, SECTION B, LINE 11B AFTER THE COO AND MANAGEMENT HAVE REVIEWED AND APPROVED THE FORM 990, A COPY IS PROVIDED TO ALL MEMBERS OF THE BOARD FOR THEIR REVIEW AND APPROVAL PRIOR TO ITS SUBMISSION. FORM 990, PART VI, SECTION B, LINE 12C EVERY JANUARY A LETTER IS SENT OUT REGARDING THE CONFLICTS-OF-INTEREST POLICY TO ALL STAFF AND EACH BOARD MEMBER. THE LETTER MUST BE SIGNED AND RETURNED. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS ARE DISTRIBUTED TO MEMBERS WHO MUST PROVIDE WRITTEN ACKNOWLEDGEMENT OF RECEIPT. POLICIES AND FINANCIAL INFORMATION ARE AVAILABLE UPON REQUEST. PART VII, SECTION B, LINE 1: THE HIGHEST COMPENSATED INDEPENDENT CONTRACTORS LISTED ARE NOT REPORTED ON PART IX, LINE 11G SINCE THEIR RELATED PAYMENT IS IN SATISFACTION OF OUTSTANDING ACCRUALS ON A PRIOR YEAR ESTIMATE AS PART OF SFCC'S ACCOUNTING ON THE LIQUIDATION BASIS. FORM 990, PART IX, LINE 11G CONSULTING FEES 55,272. FORM 990, PART XI, LINE 9: THE ADJUSTMENT TO NET ASSETS INCLUDES A $(6,333) DISPOSITION & RE-EVALUATION OF LIABILITIES ADJUSTMENT DUE TO SFCC REPORTING ON THE LIQUIDATION BASIS OF ACCOUNTING. -6,333. PART XII, LINE 1: AS A RESULT OF THE EXECUTIVE COMMITTEE'S APPROVAL OF THE PLAN OF COMPLETE LIQUIDATION, THE COMMITTEE ADOPTED THE LIQUIDATION BASIS OF ACCOUNTING. THIS BASIS OF ACCOUNTING IS CONSIDERED APPROPRIATE WHEN, AMONG OTHER THINGS, LIQUIDATION OF AN ORGANIZATION IS PROBABLE AND THE NET REALIZABLE VALUES OF ASSETS ARE REASONABLY DETERMINABLE. UNDER THIS BASIS OF ACCOUNTING, ASSETS ARE VALUED AT THEIR NET VALUES AND LIABILITIES ARE STATED AT THEIR SETTLEMENT AMOUNTS. THE CONVERSION FROM THE ACCRUAL BASIS OF ACCOUNTING TO LIQUIDATION BASIS OF ACCOUNTING REQUIRES MANAGEMENT TO MAKE SIGNIFICANT ESTIMATES AND JUDGEMENTS TO RECORD ASSETS AT ESTIMATED REALIZABLE VALUE AND LIABILITIES AT ESTIMATED SETTLEMENT AMOUNTS. THESE ESTIMATES ARE SUBJECT TO CHANGE BASED UPON THE TIMING OF ASSET DISTRIBUTIONS. PART XII, LINE 2C: SEE SCHEDULE O, FORM 990, PART VI, SECTION A, LINE 6. SFCC WIND-DOWN TRUST 757 THIRD AVENUE NEW YORK NY 10017 357227012 LIQUIDATING TRUST NY SFCC T 22785345 1.00000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0