GLOBAL ASSOCIATIONS OF RISK PROFFESIONALS INC: Form 990, tax year 2021
View the entire original 990 at ProPublica ↗
- Organization
- GLOBAL ASSOCIATIONS OF RISK PROFFESIONALS INC (EIN 02-0571577)
- Tax period
- 2021-01-01 to 2021-12-31
- Filed
- 2022-11-15
- IRS object ID
- 202203199349302610
- Schema version
- 2021v4.2
- Source
- Download XML · Original 990 at ProPublica
Every field in the e-filed return. Faint text is the IRS element name, for citing.
Return header ReturnHeader
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return | 2022-11-15T07:37:13-06:00 | ReturnTs |
| Tax Period End | 2021-12-31 | TaxPeriodEndDt |
Preparer Firm PreparerFirmGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Firm EIN | 366055558 | PreparerFirmEIN |
Preparer Firm Name PreparerFirmName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GRANT THORNTON LLP | BusinessNameLine1Txt |
Preparer US Address PreparerUSAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 757 THIRD AVE 4TH FLOOR | AddressLine1Txt |
| City | NEW YORK | CityNm |
| State Abbreviation | NY | StateAbbreviationCd |
| ZIP | 10017 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Return Type | 990 | ReturnTypeCd |
| Tax Period Begin | 2021-01-01 | TaxPeriodBeginDt |
Filer Filer
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 020571577 | EIN |
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GLOBAL ASSOCIATION OF RISK PROFESSIONALS | BusinessNameLine1Txt |
| Business Name Line2 | INC | BusinessNameLine2Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Control | GLOB | BusinessNameControlTxt |
| Phone | 2017197210 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 111 TOWN SQUARE PLACE 14TH FLR | AddressLine1Txt |
| City | JERSEY CITY | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 07310 | ZIPCd |
Business Officer BusinessOfficerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person | RICHARD APOSTOLIK | PersonNm |
| Person Title | PRESIDENT & CEO | PersonTitleTxt |
| Phone | 2017197210 | PhoneNum |
| Signature | 2022-11-15 | SignatureDt |
| Discuss With Paid Preparer | Yes (1) | DiscussWithPaidPreparerInd |
Signing Officer SigningOfficerGrp
Person Full Name PersonFullName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Person First | RICHARD | PersonFirstNm |
| Person Last | APOSTOLIK | PersonLastNm |
| Field | Value | IRS element (for citing) |
|---|---|---|
| SSN | XXX-XX-XXXX | SSN |
Preparer Person PreparerPersonGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Preparer Person | SCOTT THOMPSETT | PreparerPersonNm |
| PTIN | P00741490 | PTIN |
| Phone | 2125990100 | PhoneNum |
Additional Filer Information AdditionalFilerInformation
Trusted Customer TrustedCustomerGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Trusted Customer | 3 | TrustedCustomerCd |
| Authentication Assurance Level | AAL1 | AuthenticationAssuranceLevelCd |
| Identity Assurance Level | IAL1 | IdentityAssuranceLevelCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Tax | 2021 | TaxYr |
| Build TS | 2022-09-23 18:48:47Z | BuildTS |
Form 990 IRS990
| Field | Value | IRS element (for citing) |
|---|---|---|
| Principal Officer | RICHARD APOSTOLIK | PrincipalOfficerNm |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 111 TOWN SQUARE PLACE 14TH FLR | AddressLine1Txt |
| City | JERSEY CITY | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 07310 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Gross Receipts | $66,249,447 | GrossReceiptsAmt |
| Group Return For Affiliates | 0 | GroupReturnForAffiliatesInd |
| Organization501c | Yes (X) | Organization501cInd |
| Website Address | WWW.GARP.COM | WebsiteAddressTxt |
| Type Of Organization Corp | Yes (X) | TypeOfOrganizationCorpInd |
| Formation | 2002 | FormationYr |
| Legal Domicile State | NJ | LegalDomicileStateCd |
| Activity Or Mission | TO ADVANCE THE RISK PROFESSION THRU EDUCATION, TRAINING & THE PROMOTION OF BEST PRACTICES GLOBALLY. | ActivityOrMissionDesc |
| Voting Members Governing Body | 14 | VotingMembersGoverningBodyCnt |
| Voting Members Independent | 13 | VotingMembersIndependentCnt |
| Total Employee | 117 | TotalEmployeeCnt |
| Total Volunteers | 16 | TotalVolunteersCnt |
| Total Gross UBI | $17,200 | TotalGrossUBIAmt |
| Net Unrelated Bus Txbl Incm | $0 | NetUnrelatedBusTxblIncmAmt |
| PY Contributions Grants | $0 | PYContributionsGrantsAmt |
| CY Contributions Grants | $0 | CYContributionsGrantsAmt |
| PY Program Service Revenue | $32,365,293 | PYProgramServiceRevenueAmt |
| CY Program Service Revenue | $51,233,077 | CYProgramServiceRevenueAmt |
| PY Investment Income | $742,524 | PYInvestmentIncomeAmt |
| CY Investment Income | $3,754,041 | CYInvestmentIncomeAmt |
| PY Other Revenue | $172,915 | PYOtherRevenueAmt |
| CY Other Revenue | $72,447 | CYOtherRevenueAmt |
| PY Total Revenue | $33,280,732 | PYTotalRevenueAmt |
| CY Total Revenue | $55,059,565 | CYTotalRevenueAmt |
| PY Grants And Similar Paid | $17,167 | PYGrantsAndSimilarPaidAmt |
| CY Grants And Similar Paid | $10,500 | CYGrantsAndSimilarPaidAmt |
| PY Benefits Paid To Members | $0 | PYBenefitsPaidToMembersAmt |
| CY Benefits Paid To Members | $0 | CYBenefitsPaidToMembersAmt |
| PY Salaries Comp Emp Bnft Paid | $22,175,039 | PYSalariesCompEmpBnftPaidAmt |
| CY Salaries Comp Emp Bnft Paid | $22,095,314 | CYSalariesCompEmpBnftPaidAmt |
| PY Total Prof Fndrsng Expns | $0 | PYTotalProfFndrsngExpnsAmt |
| CY Total Prof Fndrsng Expns | $0 | CYTotalProfFndrsngExpnsAmt |
| CY Total Fundraising Expense | $0 | CYTotalFundraisingExpenseAmt |
| PY Other Expenses | $23,640,718 | PYOtherExpensesAmt |
| CY Other Expenses | $25,457,248 | CYOtherExpensesAmt |
| PY Total Expenses | $45,832,924 | PYTotalExpensesAmt |
| CY Total Expenses | $47,563,062 | CYTotalExpensesAmt |
| PY Revenues Less Expenses | -$12,552,192 | PYRevenuesLessExpensesAmt |
| CY Revenues Less Expenses | $7,496,503 | CYRevenuesLessExpensesAmt |
| Total Assets BOY | $60,089,090 | TotalAssetsBOYAmt |
| Total Assets EOY | $66,882,119 | TotalAssetsEOYAmt |
| Total Liabilities BOY | $24,325,770 | TotalLiabilitiesBOYAmt |
| Total Liabilities EOY | $21,897,818 | TotalLiabilitiesEOYAmt |
| Net Assets Or Fund Balances BOY | $35,763,320 | NetAssetsOrFundBalancesBOYAmt |
| Net Assets Or Fund Balances EOY | $44,984,301 | NetAssetsOrFundBalancesEOYAmt |
| Info In Schedule O Part III | Yes (X) | InfoInScheduleOPartIIIInd |
| Mission | THE GLOBAL ASSOCIATION OF RISK PROFESSIONALS (GARP) IS A NOT-FOR-PROFIT ORGANIZATION AND THE ONLY GLOBALLY RECOGNIZED MEMBERSHIP ASSOCIATION FOR RISK MANAGERS. GARP'S GOAL IS TO HELP CREATE A CULTURE OF RISK AWARENESS WITHIN ORGANIZATIONS, FROM ENTRY LEVEL TO BOARD LEVEL. IN THE AREAS OF FINANCIAL RISK MANAGEMENT, GARP SETS THE GLOBAL STANDARD IN PROFESSIONAL DESIGNATION WITH THE FRM (FINANCIAL RISK MANAGER) CERTIFICATION AND SCR (SUSTAINABILITY AND CLIMATE) CERTIFICATE. THROUGH OUR EDUCATIONAL PROGRAMS, SPECIALIZED CONTENT, IN-PERSON OR ONLINE EVENTS, AND CHAPTER PROGRAM, GARP PROMOTES BEST PRACTICES IN RISK MANAGEMENT AND SUPPORTS ONGOING PROFESSIONAL AND CAREER DEVELOPMENT FOR RISK MANAGERS. | MissionDesc |
| Significant New Program Srvc | 0 | SignificantNewProgramSrvcInd |
| Significant Change | 0 | SignificantChangeInd |
| Desc | SEE SCHEDULE OPROFESSIONAL CERTIFICATION & EDUCATIONAL PROGRAMS CERTIFICATION: GARP SETS THE GLOBAL STANDARD IN PROFESSIONAL CERTIFICATION WITH THE FRM (FINANCIAL RISK MANAGER) CERTIFICATION AND THE SCR (SUSTAINABILITY AND CLIMATE RISK) CERTIFICATE. IT OFFERS THESE EXAMS ANNUALLY. THESE PROGRAMS ARE RIGOROUS AND VERY WELL RESPECTED ACROSS THE GLOBE. BY DEMONSTRATING EXPERTISE AND COMMITMENT TO BETTER RISK MANAGEMENT PRACTICES, CERTIFIED FRMS AND SCR HOLDERS STAND APART IN THEIR RESPECTIVE ORGANIZATIONS. EDUCATION AND AWARENESS: EVERYONE HAS AN IMPORTANT ROLE TO PLAY IN SUPPORTING A ROBUST RISK CULTURE. WHETHER IT IS EDUCATING AN ENTERPRISE, OR EDUCATING FINANCIAL PROFESSIONALS ACROSS AN ENTIRE COUNTRY, GARP PARTNERS WITH FIRMS AND CENTRAL BANKS TO DELIVER FOUNDATIONAL AND ADVANCED RISK AWARENESS PROGRAMS. THROUGH THESE PROGRAMS WE HAVE ENABLED TENS OF THOUSANDS OF FINANCE PROFESSIONALS GLOBALLY TO PROMOTE A RISK-AWARE CULTURE. | Desc |
Prog Srvc Accom Acty2 ProgSrvcAccomActy2Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | SEE SCHEDULE OBENCHMARKING INITIATIVE AND RISK INTELLIGENCE GARP BENCHMARKING INITIATIVE (GBI): IN THIS TIME OF INCREASING ECONOMIC GLOBALIZATION AND MARKET INTERCONNECTEDNESS, THE CAUSES OF AND APPROACHES TO DEALING WITH GLOBAL SYSTEMIC RISK ISSUES ARE OF IMMENSE IMPORTANCE. BANKS AS WELL AS THEIR REGULATORS ARE IN NEED OF WAYS TO APPROPRIATELY DEVELOP, IMPLEMENT AND ANALYZE STUDIES TO TEST AND BENCHMARK BANK RISK SYSTEMS AND APPROACHES. GBI IS PLAYING A MAJOR AND GLOBALLY UNIQUE ROLE IN ANALYZING THE PROCESSES RELATED TO HYPOTHETICAL PORTFOLIO EXERCISES, QUANTITATIVE IMPACT STUDIES, AND OTHER MUCH NEEDED BENCHMARKING ACTIVITIES.RISK INTELLIGENCE: KEEPING UP WITH THE EVER-EVOLVING RISK LANDSCAPE IS CHALLENGING, BUT ESSENTIAL FOR RISK PROFESSIONALS AND THE INDUSTRY TO COLLECTIVELY SAFEGUARD THE WORLD'S FINANCIAL MARKETS. GARP DELIVERS CRITICAL RISK INTELLIGENCE: INDUSTRY SURVEYS, SPECIAL REPORTS, NEWS, ANALYSIS, WHITEPAPERS, WEBINARS AND MORE, TO ENSURE THAT THE COMMUNITY HAS THE VERY LATEST INTELLIGENCE TO DRIVE INFORMED DECISION MAKING. | Desc |
Prog Srvc Accom Acty3 ProgSrvcAccomActy3Grp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | ANNUAL CONFERENCE: THE ORGANIZATION OFFERS AN ANNUAL CONFERENCE IN ADDITION TO OCCASIONAL SEMINARS AND OTHER EVENT PROGRAMS, OFFERS DISCOUNTS ON GARP AND OTHER THIRD-PARTY PUBLICATIONS, A MEMBERSHIP PROGRAM, AND OFFERS ACCESS TO A CAREER CENTER TO POST RESUMES AND SEARCH FOR JOB OPPORTUNITIES. | Desc |
Prog Srvc Accom Acty Other ProgSrvcAccomActyOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | CONNECTING THE RISK LEADERSHIP AND THE GLOBAL RISK COMMUNITY: ADDRESSING RISK IS A TEAM EFFORT, AND WITH OVER 260,000 MEMBERS IN 195 COUNTRIES AND TERRITORIES - GARP MEMBERS ARE MAKING A DIFFERENCE. GARP MEMBERSHIP PROVIDES THE COMMUNITY WITH ENGAGEMENT OPPORTUNITIES TO HAVE A VOICE IN INDUSTRY RESEARCH, UNPARALLELED NETWORKING OPPORTUNITIES, ACCESS TO RISK INTELLIGENCE, AND MUCH, MUCH MORE. OUR CONVENTIONS, TOGETHER WITH 51 CHAPTER DIRECTORS REPRESENTING 28 CHAPTERS IN MORE THAN A DOZEN COUNTRIES AROUND THE WORLD, GIVE THE COMMUNITY THE OPPORTUNITY TO MEET AND LEARN FROM ONE ANOTHER. ADDITIONALLY, OUR CONTINUING PROFESSIONAL DEVELOPMENT (CPD) PROGRAM OFFERS RISK PROFESSIONALS ACCESS TO THE VERY LATEST IN RISK EDUCATION, PAVING THE WAY FOR A CLEAR VIEW OF THE RISK HORIZON.ONGOING DIALOG BETWEEN REGULATORS, PRACTITIONERS AND LEADING ACADEMIC EXPERTS IS CRITICAL TO HELP BETTER UNDERSTAND AND SOLVE FOR THE EVER-INCREASING NUMBER OF FINANCIAL AND OPERATIONAL RISK CHALLENGES FACING THE WORLD'S MARKETS TODAY. IT'S IMPORTANT FOR THIS KIND OF DIALOG TO BE OPEN, OBJECTIVE AND NOT MOTIVATED BY PARTISAN AGENDA. WE FACILITATE OBJECTIVE AND NON-PARTISAN DIALOGUE THROUGH REGULARLY HOSTING GLOBAL RISK FORUMS WHERE REGULATORS, PRACTITIONERS, AND LEADING ACADEMICS COLLECTIVELY AND COLLABORATIVELY ADDRESS IMPORTANT RISK ISSUES. | Desc |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Described In Section501c3 | 0 | DescribedInSection501c3Ind |
| Schedule B Required | 0 | ScheduleBRequiredInd |
| Political Campaign Acty | 0 | PoliticalCampaignActyInd |
| Subject To Proxy Tax | Yes (1) | SubjectToProxyTaxInd |
| Donor Advised Fund | 0 | DonorAdvisedFundInd |
| Conservation Easements | 0 | ConservationEasementsInd |
| Collections Of Art | 0 | CollectionsOfArtInd |
| Credit Counseling | 0 | CreditCounselingInd |
| Donor Rstr Or Quasi Endowments | 0 | DonorRstrOrQuasiEndowmentsInd |
| Report Land Building Equipment | Yes (1) | ReportLandBuildingEquipmentInd |
| Report Investments Other Sec | 0 | ReportInvestmentsOtherSecInd |
| Report Program Related Invst | 0 | ReportProgramRelatedInvstInd |
| Report Other Assets | 0 | ReportOtherAssetsInd |
| Report Other Liabilities | Yes (1) | ReportOtherLiabilitiesInd |
| Include FIN48 Footnote | Yes (1) | IncludeFIN48FootnoteInd |
| Independent Audit Fincl Stmt | 0 | IndependentAuditFinclStmtInd |
| Consolidated Audit Fincl Stmt | Yes (1) | ConsolidatedAuditFinclStmtInd |
| School Operating | 0 | SchoolOperatingInd |
| Foreign Office | Yes (1) | ForeignOfficeInd |
| Foreign Activities | Yes (1) | ForeignActivitiesInd |
| More Than5000 K To Org | 0 | MoreThan5000KToOrgInd |
| More Than5000 K To Individuals | Yes (1) | MoreThan5000KToIndividualsInd |
| Professional Fundraising | 0 | ProfessionalFundraisingInd |
| Fundraising Activities | 0 | FundraisingActivitiesInd |
| Gaming Activities | 0 | GamingActivitiesInd |
| Operate Hospital | 0 | OperateHospitalInd |
| Grants To Organizations | 0 | GrantsToOrganizationsInd |
| Grants To Individuals | 0 | GrantsToIndividualsInd |
| Schedule J Required | Yes (1) | ScheduleJRequiredInd |
| Tax Exempt Bonds | 0 | TaxExemptBondsInd |
| Loan Outstanding | 0 | LoanOutstandingInd |
| Grant To Related Person | 0 | GrantToRelatedPersonInd |
| Business Rln With Org Mem | 0 | BusinessRlnWithOrgMemInd |
| Business Rln With Fam Mem | 0 | BusinessRlnWithFamMemInd |
| Business Rln With35 Ctrl Ent | 0 | BusinessRlnWith35CtrlEntInd |
| Deductible Non Cash Contri | 0 | DeductibleNonCashContriInd |
| Deductible Art Contribution | 0 | DeductibleArtContributionInd |
| Terminate Operations | 0 | TerminateOperationsInd |
| Partial Liquidation | 0 | PartialLiquidationInd |
| Disregarded Entity | Yes (1) | DisregardedEntityInd |
| Related Entity | Yes (1) | RelatedEntityInd |
| Related Organization Ctrl Ent | Yes (1) | RelatedOrganizationCtrlEntInd |
| Transaction With Control Ent | 0 | TransactionWithControlEntInd |
| Activities Conducted Prtshp | 0 | ActivitiesConductedPrtshpInd |
| Schedule O Required | Yes (1) | ScheduleORequiredInd |
| IRP Document | 74 | IRPDocumentCnt |
| IRP Document W2 G | 0 | IRPDocumentW2GCnt |
| Backup Wthld Compliance | Yes (1) | BackupWthldComplianceInd |
| Employee | 117 | EmployeeCnt |
| Employment Tax Returns Filed | Yes (1) | EmploymentTaxReturnsFiledInd |
| Unrelated Bus Incm Over Limit | Yes (1) | UnrelatedBusIncmOverLimitInd |
| Form990 T Filed | Yes (1) | Form990TFiledInd |
| Foreign Financial Account | Yes (1) | ForeignFinancialAccountInd |
| Foreign Country | UK | ForeignCountryCd |
| Foreign Country | HK | ForeignCountryCd |
| Foreign Country | CH | ForeignCountryCd |
| Prohibited Tax Shelter Trans | 0 | ProhibitedTaxShelterTransInd |
| Taxable Party Notification | 0 | TaxablePartyNotificationInd |
| Nondeductible Contributions | 0 | NondeductibleContributionsInd |
| Indoor Tanning Services | 0 | IndoorTanningServicesInd |
| Subj To Tax Rmnrtn Ex Prcht Pymt | Yes (1) | SubjToTaxRmnrtnExPrchtPymtInd |
| Subject To Excs Tax Net Invst Inc | 0 | SubjectToExcsTaxNetInvstIncInd |
| Info In Schedule O Part VI | Yes (X) | InfoInScheduleOPartVIInd |
| Governing Body Voting Members | 14 | GoverningBodyVotingMembersCnt |
| Independent Voting Member | 13 | IndependentVotingMemberCnt |
| Family Or Business Rln | 0 | FamilyOrBusinessRlnInd |
| Delegation Of Mgmt Duties | 0 | DelegationOfMgmtDutiesInd |
| Change To Org Documents | 0 | ChangeToOrgDocumentsInd |
| Material Diversion Or Misuse | 0 | MaterialDiversionOrMisuseInd |
| Members Or Stockholders | Yes (1) | MembersOrStockholdersInd |
| Election Of Board Members | Yes (1) | ElectionOfBoardMembersInd |
| Decisions Subject To Approva | 0 | DecisionsSubjectToApprovaInd |
| Minutes Of Governing Body | Yes (1) | MinutesOfGoverningBodyInd |
| Minutes Of Committees | Yes (1) | MinutesOfCommitteesInd |
| Officer Mailing Address | 0 | OfficerMailingAddressInd |
| Local Chapters | 0 | LocalChaptersInd |
| Form990 Provided To Gvrn Body | Yes (1) | Form990ProvidedToGvrnBodyInd |
| Conflict Of Interest Policy | Yes (1) | ConflictOfInterestPolicyInd |
| Annual Disclosure Covered Prsn | Yes (1) | AnnualDisclosureCoveredPrsnInd |
| Regular Monitoring Enfrc | 0 | RegularMonitoringEnfrcInd |
| Whistleblower Policy | Yes (1) | WhistleblowerPolicyInd |
| Document Retention Policy | 0 | DocumentRetentionPolicyInd |
| Compensation Process CEO | Yes (1) | CompensationProcessCEOInd |
| Compensation Process Other | 0 | CompensationProcessOtherInd |
| Investment In Joint Venture | 0 | InvestmentInJointVentureInd |
| Upon Request | Yes (X) | UponRequestInd |
Books In Care Of Detail BooksInCareOfDetail
Business Name BusinessName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | PRISCELLA CERVANTES | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Phone | 2017197259 | PhoneNum |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 111 TOWN SQUARE PLACE 14 FL | AddressLine1Txt |
| City | JERSEY CITY | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 07310 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part VII | Yes (X) | InfoInScheduleOPartVIIInd |
Form990 Part VII Section A Form990PartVIISectionAGrp (26 entries)
| TitleTitleTxt | Average Hours Per WeekAverageHoursPerWeekRt | Average Hours Per Week Rltd OrgAverageHoursPerWeekRltdOrgRt | Individual Trustee Or DirectorIndividualTrusteeOrDirectorInd | OfficerOfficerInd | Reportable Comp From OrgReportableCompFromOrgAmt | Reportable Comp From Rltd OrgReportableCompFromRltdOrgAmt | Other CompensationOtherCompensationAmt | Key EmployeeKeyEmployeeInd | Highest Compensated EmployeeHighestCompensatedEmployeeInd |
|---|---|---|---|---|---|---|---|---|---|
| RICHARD APOSTOLIK | |||||||||
| PRESIDENT & CEO | 60.00 | 0.00 | Yes (X) | Yes (X) | $1,950,095 | $0 | $49,182 | ||
| BRADFORD HU | |||||||||
| CHAIRMAN | 1.00 | 0.00 | Yes (X) | Yes (X) | $0 | $0 | $0 | ||
| BEN GOLUB | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| ANDREW GRAY | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| GEOFFREY GREENER | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| ANDREW KURITZKES | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| STUART LEWIS | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| JACQUES LONGERSTAEY | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| WILLIAM MARTIN | |||||||||
| TRUSTEE (THRU 4/2021) | 40.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| MICHELLE MCCARTHY | |||||||||
| TRUSTEE (THRU 1/2021) | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| VICTOR NG | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| LEWIS O'DONALD | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| ALESSA QUANE | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| FRANK RONCEY | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| ALAN SMITH | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| JONATHAN STEIN | |||||||||
| TRUSTEE (THRU 3/2021) | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| PETER TUFANO | |||||||||
| TRUSTEE | 1.00 | 0.00 | Yes (X) | $0 | $0 | $0 | |||
| PRISCELLA CERVANTES | |||||||||
| CFO / CAO | 40.00 | 0.00 | Yes (X) | $649,861 | $0 | $65,091 | |||
| CHRISTOPHER J DONOHUE | |||||||||
| MANAGING DIRECTOR | 50.00 | 0.00 | $1,022,522 | $0 | $60,501 | Yes (X) | |||
| JEFFREY MAH | |||||||||
| CIO | 40.00 | 0.00 | $359,922 | $0 | $45,090 | Yes (X) | |||
| LILY PAN | |||||||||
| MANAGING DIRECTOR | 40.00 | 0.00 | $270,095 | $0 | $36,996 | Yes (X) | |||
| JOANNA PAISLEY | |||||||||
| CO PRESIDENT GRI | 40.00 | 0.00 | $831,016 | $0 | $0 | Yes (X) | |||
| WILLIAM HENRY MAY | |||||||||
| SVP, GLOBAL HEAD OF RESEARCH | 40.00 | 0.00 | $534,983 | $0 | $62,051 | Yes (X) | |||
| RACHEL LERNER | |||||||||
| GENERAL COUNSEL | 40.00 | 0.00 | $509,061 | $0 | $59,696 | Yes (X) | |||
| MICHAEL WILLIAM SELL | |||||||||
| HEAD OF BUSINESS DEVELOPMENT | 40.00 | 0.00 | $395,576 | $0 | $56,312 | Yes (X) | |||
| MARK STEVEN CAREY | |||||||||
| CO PRESIDENT GRI (THRU 8/2021) | 40.00 | 0.00 | $527,725 | $0 | $18,300 | Yes (X) | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Reportable Comp From Org | $7,050,856 | TotalReportableCompFromOrgAmt |
| Tot Reportable Comp Rltd Org | $0 | TotReportableCompRltdOrgAmt |
| Total Other Compensation | $453,219 | TotalOtherCompensationAmt |
| Indiv Rcvd Greater Than100 K | 47 | IndivRcvdGreaterThan100KCnt |
| Former Ofcr Employees Listed | 0 | FormerOfcrEmployeesListedInd |
| Total Comp Greater Than150 K | Yes (1) | TotalCompGreaterThan150KInd |
| Compensation From Other Srcs | 0 | CompensationFromOtherSrcsInd |
Contractor Compensation ContractorCompensationGrp (5 entries)
| Address Line1ContractorAddress/ForeignAddress/AddressLine1Txt | CityContractorAddress/ForeignAddress/CityNm | CountryContractorAddress/ForeignAddress/CountryCd | ServicesServicesDesc | CompensationCompensationAmt | Address Line1ContractorAddress/USAddress/AddressLine1Txt | CityContractorAddress/USAddress/CityNm | State AbbreviationContractorAddress/USAddress/StateAbbreviationCd | ZIPContractorAddress/USAddress/ZIPCd |
|---|---|---|---|---|---|---|---|---|
| BEIJING ZHONG CHENG YU DA EDUCATION | ||||||||
| RM E101/E102 XIAMEN BLDG NO 46 | BEIJING | CH | RISK PROGRAM | $2,160,021 | ||||
| GENISIS TECHNOLOGY SOLUTIONS INC | ||||||||
| IT SERVICES | $350,463 | 856 US-206 | HILLSBOROUGH | NJ | 08844 | |||
| KEYRUS USA INC | ||||||||
| IT SERVICES | $203,699 | 252 WEST 37TH STREET | NY | NY | 10018 | |||
| MARK WALLACE RISK SERVICES | ||||||||
| RAINSTRASSE 11C | PFAFFIKON | SZ | RISK PROGRAM | $192,000 | ||||
| GRANT THORNTON LLP | ||||||||
| AUDITING | $131,918 | 757 3RD AVENUE 9TH FLOOR | NY | NY | 10017 | |||
| Field | Value | IRS element (for citing) |
|---|---|---|
| Cntrct Rcvd Greater Than100 K | 14 | CntrctRcvdGreaterThan100KCnt |
Program Service Revenue ProgramServiceRevenueGrp (5 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|
| EXAMS AND COURSE MATERIALS | 900099 | $48,171,405 | $48,171,405 |
| MEMBERSHIP DUES | 900099 | $1,990,806 | $1,990,806 |
| COUNTRY SPECIFIC PROGRAMS | 900099 | $771,184 | $771,184 |
| INSTRUCTIONAL SEMINARS | 900099 | $209,349 | $209,349 |
| WEB SEMINAR | 900099 | $90,333 | $90,333 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Program Service Revenue | $51,233,077 | TotalProgramServiceRevenueAmt |
Investment Income InvestmentIncomeGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $1,376,569 | TotalRevenueColumnAmt |
| Exclusion | $1,376,569 | ExclusionAmt |
Royalties Revenue RoyaltiesRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $5,113 | TotalRevenueColumnAmt |
| Exclusion | $5,113 | ExclusionAmt |
Gross Amount Sales Assets GrossAmountSalesAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $13,567,354 | SecuritiesAmt |
Less Cost Oth Basis Sales Expnss LessCostOthBasisSalesExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $11,189,882 | SecuritiesAmt |
Gain Or Loss GainOrLossGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Securities | $2,377,472 | SecuritiesAmt |
Net Gain Or Loss Investments NetGainOrLossInvestmentsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $2,377,472 | TotalRevenueColumnAmt |
| Exclusion | $2,377,472 | ExclusionAmt |
Other Revenue Misc OtherRevenueMiscGrp (3 entries)
| DescDesc | BusinessBusinessCd | Total Revenue ColumnTotalRevenueColumnAmt | ExclusionExclusionAmt | Unrelated Business RevenueUnrelatedBusinessRevenueAmt | Related Or Exempt Func IncomeRelatedOrExemptFuncIncomeAmt |
|---|---|---|---|---|---|
| NEWSLETTER INCOME | 900099 | $22,001 | $22,001 | ||
| BANNER AD INCOME | 900099 | $17,200 | $17,200 | ||
| INFORMATION EXC | 900099 | $17,000 | $17,000 |
Miscellaneous Revenue MiscellaneousRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $11,133 | TotalRevenueColumnAmt |
| Exclusion | $11,133 | ExclusionAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Revenue Total | $67,334 | OtherRevenueTotalAmt |
Total Revenue TotalRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Revenue Column | $55,059,565 | TotalRevenueColumnAmt |
| Related Or Exempt Func Income | $51,250,077 | RelatedOrExemptFuncIncomeAmt |
| Unrelated Business Revenue | $17,200 | UnrelatedBusinessRevenueAmt |
| Exclusion | $3,792,288 | ExclusionAmt |
Grants To Domestic Orgs GrantsToDomesticOrgsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,000 | TotalAmt |
Foreign Grants ForeignGrantsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $9,500 | TotalAmt |
Comp Current Ofcr Directors CompCurrentOfcrDirectorsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $4,508,905 | TotalAmt |
Other Salaries And Wages OtherSalariesAndWagesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $15,024,608 | TotalAmt |
Pension Plan Contributions PensionPlanContributionsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $569,000 | TotalAmt |
Other Employee Benefits OtherEmployeeBenefitsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,992,801 | TotalAmt |
Fees For Services Legal FeesForServicesLegalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $404,466 | TotalAmt |
Fees For Services Accounting FeesForServicesAccountingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $241,325 | TotalAmt |
Fees For Srvc Invst Mgmnt Fees FeesForSrvcInvstMgmntFeesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $17,952 | TotalAmt |
Fees For Services Other FeesForServicesOtherGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $885,979 | TotalAmt |
Advertising AdvertisingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $3,402,433 | TotalAmt |
Office Expenses OfficeExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $539,490 | TotalAmt |
Information Technology InformationTechnologyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,217,169 | TotalAmt |
Royalties RoyaltiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $98,053 | TotalAmt |
Occupancy OccupancyGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $1,940,563 | TotalAmt |
Travel TravelGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $35,749 | TotalAmt |
Conferences Meetings ConferencesMeetingsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $11,925 | TotalAmt |
Depreciation Depletion DepreciationDepletionGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $2,150,538 | TotalAmt |
Other Expenses OtherExpensesGrp (4 entries)
| DescDesc | TotalTotalAmt |
|---|---|
| EXAM COSTS | $11,206,751 |
| PAYROLL SERVICE FEE | $1,257,716 |
| EDUCATIONAL CONTENT AND | $509,568 |
| SEMINAR COSTS | $329,084 |
All Other Expenses AllOtherExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $208,487 | TotalAmt |
Total Functional Expenses TotalFunctionalExpensesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total | $47,563,062 | TotalAmt |
Cash Non Interest Bearing CashNonInterestBearingGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,539,573 | BOYAmt |
| EOY | $2,606,357 | EOYAmt |
Savings And Temp Cash Invst SavingsAndTempCashInvstGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $5,954,933 | BOYAmt |
| EOY | $7,119,739 | EOYAmt |
Accounts Receivable AccountsReceivableGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $383,036 | BOYAmt |
| EOY | $613,056 | EOYAmt |
Prepaid Expenses Defrd Charges PrepaidExpensesDefrdChargesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,871,385 | BOYAmt |
| EOY | $1,493,507 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Land Bldg Equip Cost Or Other Bss | $14,578,340 | LandBldgEquipCostOrOtherBssAmt |
| Land Bldg Equip Accum Deprec | $9,420,250 | LandBldgEquipAccumDeprecAmt |
Land Bldg Equip Basis Net LandBldgEquipBasisNetGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $6,172,564 | BOYAmt |
| EOY | $5,158,090 | EOYAmt |
Investments Pub Traded Sec InvestmentsPubTradedSecGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $42,437,591 | BOYAmt |
| EOY | $47,990,677 | EOYAmt |
Intangible Assets IntangibleAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,220,521 | BOYAmt |
| EOY | $1,396,521 | EOYAmt |
Other Assets Total OtherAssetsTotalGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $509,487 | BOYAmt |
| EOY | $504,172 | EOYAmt |
Total Assets TotalAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $60,089,090 | BOYAmt |
| EOY | $66,882,119 | EOYAmt |
Accounts Payable Accr Expnss AccountsPayableAccrExpnssGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $9,035,610 | BOYAmt |
| EOY | $9,250,516 | EOYAmt |
Deferred Revenue DeferredRevenueGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $13,711,272 | BOYAmt |
| EOY | $10,156,205 | EOYAmt |
Other Liabilities OtherLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $1,578,888 | BOYAmt |
| EOY | $2,491,097 | EOYAmt |
Total Liabilities TotalLiabilitiesGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $24,325,770 | BOYAmt |
| EOY | $21,897,818 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Organization Follows FASB117 | Yes (X) | OrganizationFollowsFASB117Ind |
No Donor Restriction Net Assets NoDonorRestrictionNetAssetsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $35,763,320 | BOYAmt |
| EOY | $44,984,301 | EOYAmt |
Total Net Assets Fund Balance TotalNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $35,763,320 | BOYAmt |
| EOY | $44,984,301 | EOYAmt |
Tot Liab Net Assets Fund Balance TotLiabNetAssetsFundBalanceGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| BOY | $60,089,090 | BOYAmt |
| EOY | $66,882,119 | EOYAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Info In Schedule O Part XI | Yes (X) | InfoInScheduleOPartXIInd |
| Reconcilation Revenue Expnss | $7,496,503 | ReconcilationRevenueExpnssAmt |
| Net Unrlzd Gains Losses Invst | $1,805,067 | NetUnrlzdGainsLossesInvstAmt |
| Other Changes In Net Assets | -$80,589 | OtherChangesInNetAssetsAmt |
| Method Of Accounting Accrual | Yes (X) | MethodOfAccountingAccrualInd |
| Accountant Compile Or Review | 0 | AccountantCompileOrReviewInd |
| FS Audited | Yes (1) | FSAuditedInd |
FS Audited Basis FSAuditedBasisGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Consolidated Basis Fincl Stmt | Yes (X) | ConsolidatedBasisFinclStmtInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Audit Committee | Yes (1) | AuditCommitteeInd |
| Federal Grant Audit Required | 0 | FederalGrantAuditRequiredInd |
Schedule C IRS990ScheduleC
| Field | Value | IRS element (for citing) |
|---|---|---|
| Substantially All Dues Nonded | Yes (1) | SubstantiallyAllDuesNondedInd |
| Only In House Lobbying | Yes (1) | OnlyInHouseLobbyingInd |
| Agree Carryover Prior Year | 0 | AgreeCarryoverPriorYearInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | SCHEDULE C | FormAndLineReferenceDesc |
| Explanation | THE ORGANIZATION DID NOT ENGAGE IN ANY LOBBYING ACTIVITIES DURING 2021. | ExplanationTxt |
Schedule D IRS990ScheduleD
Leasehold Improvements LeaseholdImprovementsGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $8,439,184 | OtherCostOrOtherBasisAmt |
| Depreciation | $3,671,464 | DepreciationAmt |
| Book Value | $4,767,720 | BookValueAmt |
Equipment EquipmentGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Other Cost Or Other Basis | $6,139,156 | OtherCostOrOtherBasisAmt |
| Depreciation | $5,748,786 | DepreciationAmt |
| Book Value | $390,370 | BookValueAmt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Book Value Land Buildings | $5,158,090 | TotalBookValueLandBuildingsAmt |
Other Liabilities Org OtherLiabilitiesOrgGrp
| Field | Value | IRS element (for citing) |
|---|---|---|
| Desc | DEFERRED RENT | Desc |
| Amt | $2,491,097 | Amt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Total Liability | $2,491,097 | TotalLiabilityAmt |
| Footnote Text | Yes (X) | FootnoteTextInd |
| Total Rev Etc Audited Fincl Stmt | $56,784,043 | TotalRevEtcAuditedFinclStmtAmt |
| Net Unrealized Gains Invst | $1,805,067 | NetUnrealizedGainsInvstAmt |
| Other Revenue | -$80,589 | OtherRevenueAmt |
| Revenue Not Reported | $1,724,478 | RevenueNotReportedAmt |
| Revenue Subtotal | $55,059,565 | RevenueSubtotalAmt |
| Revenue Not Reported Fincl Stmt | $0 | RevenueNotReportedFinclStmtAmt |
| Total Revenue Per Form990 | $55,059,565 | TotalRevenuePerForm990Amt |
| Tot Expns Etc Audited Fincl Stmt | $47,563,062 | TotExpnsEtcAuditedFinclStmtAmt |
| Expenses Not Reported | $0 | ExpensesNotReportedAmt |
| Expenses Subtotal | $47,563,062 | ExpensesSubtotalAmt |
| Expenses Not Rpt Fincl Stmt | $0 | ExpensesNotRptFinclStmtAmt |
| Total Expenses Per Form990 | $47,563,062 | TotalExpensesPerForm990Amt |
Supplemental Information Detail SupplementalInformationDetail (2 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART X, LINE 2: | FIN48 THE ASSOCIATION FOLLOWS THE PROVISIONS OF ASC 740, INCOME TAXES. ASC 740-10 CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THESE REQUIREMENTS STIPULATE THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS ONLY IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE ASSOCIATION IS EXEMPT FROM FEDERAL INCOME TAXATION BY VIRTUE OF BEING AN ORGANIZATION DESCRIBED IN SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE ("CODE"). NEVERTHELESS, THE ASSOCIATION MAY BE SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE ASSOCIATION RECORDED TAX PROVISIONS OF $192,308 AND $193,452 FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020, RESPECTIVELY, RESULTING FROM UNRELATED BUSINESS INCOME ACTIVITIES CONDUCTED BY THE ASSOCIATION AND FROM CERTAIN EXCISE TAXES ASSESSED ON EXECUTIVE COMPENSATION UNDER SECTION 4960 OF THE CODE. AS OF DECEMBER 31, 2021, MANAGEMENT HAS DETERMINED THAT THERE ARE NO OTHER SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION OR DISCLOSURE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. |
| PART XI, LINE 2D - OTHER ADJUSTMENTS: | FOREIGN CURRENCY UNREALIZED LOSS -80,589. |
Schedule F IRS990ScheduleF
| Field | Value | IRS element (for citing) |
|---|---|---|
| Grant Records Maintained | Yes (1) | GrantRecordsMaintainedInd |
Account Activities Outside US AccountActivitiesOutsideUSGrp (11 entries)
| RegionRegionTxt | OfficesOfficesCnt | EmployeeEmployeeCnt | Type Of Activities ConductedTypeOfActivitiesConductedTxt | Specific Services ProvidedSpecificServicesProvidedTxt | Region Total ExpendituresRegionTotalExpendituresAmt |
|---|---|---|---|---|---|
| CENTRAL AMERICA AND THE CARIBBEAN | 0 | 0 | PROGRAM SERVICES | FRM/ERP EXAM | $10,510 |
| EAST ASIA AND THE PACIFIC | 1 | 2 | PROGRAM SERVICES | FRM/ERP EXAM | $7,716,012 |
| EUROPE (INCLUDING ICELAND & GREENLAND) | 1 | 6 | PROGRAM SERVICES | FRM/ERP EXAM | $1,023,403 |
| MIDDLE EAST AND NORTH AFRICA | 0 | 0 | PROGRAM SERVICES | FRM/ERP EXAM | $142,340 |
| NORTH AMERICA | 0 | 0 | PROGRAM SERVICES | FRM/ERP EXAM | $501,339 |
| RUSSIA AND NEIGHBORING STATES | 0 | 0 | PROGRAM SERVICES | FRM/ERP EXAM | $47,697 |
| SOUTH AMERICA | 0 | 0 | PROGRAM SERVICES | FRM/ERP EXAM | $52,316 |
| SOUTH ASIA | 0 | 0 | PROGRAM SERVICES | FRM/ERP EXAM | $2,006,539 |
| SUB-SAHARAN AFRICA | 0 | 0 | PROGRAM SERVICES | FRM/ERP EXAM | $174,044 |
| EUROPE (INCLUDING ICELAND & GREENLAND) | 0 | 0 | GRANTMAKING | RESEARCH GRANT | $6,000 |
| EAST ASIA AND THE PACIFIC | 0 | 0 | GRANTMAKING | RESEARCH GRANT | $3,500 |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Subtotal Offices | 2 | SubtotalOfficesCnt |
| Subtotal Employees | 8 | SubtotalEmployeesCnt |
| Continuation Total Office | 0 | ContinuationTotalOfficeCnt |
| Continuation Total Employee | 0 | ContinuationTotalEmployeeCnt |
| Total Office | 2 | TotalOfficeCnt |
| Total Employee | 8 | TotalEmployeeCnt |
| Subtotal Spent | $11,500,156 | SubtotalSpentAmt |
| Continuation Spent | $183,544 | ContinuationSpentAmt |
| Total Spent | $11,683,700 | TotalSpentAmt |
| Total501c3 Org | 0 | Total501c3OrgCnt |
| Total Other Org | 0 | TotalOtherOrgCnt |
Foreign Individuals Grants ForeignIndividualsGrantsGrp (2 entries)
| Type Of AssistanceTypeOfAssistanceTxt | RegionRegionTxt | RecipientRecipientCnt | Cash GrantCashGrantAmt | Manner Of Cash DisbursementMannerOfCashDisbursementTxt |
|---|---|---|---|---|
| RESEARCH GRANT | EUROPE (INCLUDING ICELAND & GREENLAND) | 6 | $6,000 | WIRE |
| RESEARCH GRANT | EAST ASIA AND THE PACIFIC | 2 | $3,500 | WIRE |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Transfer To Foreign Corp | 0 | TransferToForeignCorpInd |
| Interest In Foreign Trust | 0 | InterestInForeignTrustInd |
| Foreign Corp Ownership | 0 | ForeignCorpOwnershipInd |
| Passive Foreign Investmest Co | 0 | PassiveForeignInvestmestCoInd |
| Foreign Partnership | 0 | ForeignPartnershipInd |
| Boycott Countries | Yes (1) | BoycottCountriesInd |
Supplemental Information Detail SupplementalInformationDetail (3 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| PART I, LINE 2: | MONITORING OF FUNDS: EVERY YEAR SINCE 2007, GARP HAS ISSUED A CALL FOR RESEARCH PROPOSALS TO AWARD FUNDING AS A PART OF THE GARP RISK MANAGEMENT RESEARCH PROGRAM. RESEARCH PROJECTS ARE SELECTED FOR FUNDING BY A RESEARCH COMMITTEE OF RISK MANAGEMENT PRACTITIONERS, ACADEMICS AND RESEARCHERS. THE RESEARCH COMMITTEE SEEKS TO PROVIDE FUNDING FOR: 1. PROJECTS OFFERING UNIQUE APPROACHES AND INSIGHTS INTO PROBLEMS OF SIGNIFICANCE TO RISK MANAGEMENT PROFESSIONALS; 2. PROJECTS OF PARTICULAR RELEVANCE TO CURRENT GLOBAL FINANCIAL RISK MANAGEMENT ISSUES AND NEEDS; AND 3. PROJECTS WITH SIGNIFICANT POTENTIAL FOR BRIDGING THE GAP BETWEEN THEORY AND PRACTICE. UPON COMPLETION, THE AUTHORS PRESENT THEIR PAPER AT A GARP EVENT. GRANTS ARE PAID OUT ONLY AFTER SUBMISSION OF THE RESEARCH PAPERS. NO FURTHER MONITORING IS REQUIRED (ONCE THE PAPERS ARE WRITTEN AND THE CASH DISBURSED). |
| PART III ACCOUNTING METHOD: | |
| ACCOUNTING METHOD USED: | PART I, LINE 3, COLUMN (F) AND PART III, LINE 1, COLUMN (D) THE EXPENDITURES, PER REGION, ARE PRESENTED ON THE ACCRUAL BASIS OF ACCOUNTING. |
Schedule J IRS990ScheduleJ
| Field | Value | IRS element (for citing) |
|---|---|---|
| Compensation Committee | Yes (X) | CompensationCommitteeInd |
| Form990 Of Other Organizations | Yes (X) | Form990OfOtherOrganizationsInd |
| Board Or Committee Approval | Yes (X) | BoardOrCommitteeApprovalInd |
| Severance Payment | 0 | SeverancePaymentInd |
| Supplemental Nonqual Rtr Plan | 0 | SupplementalNonqualRtrPlanInd |
| Equity Based Comp Arrngm | 0 | EquityBasedCompArrngmInd |
Rltd Org Officer Trst Key Empl RltdOrgOfficerTrstKeyEmplGrp (10 entries)
| TitleTitleTxt | Base Compensation Filing OrgBaseCompensationFilingOrgAmt | Compensation Based On Rltd OrgsCompensationBasedOnRltdOrgsAmt | Bonus Filing OrganizationBonusFilingOrganizationAmount | Bonus Related OrganizationsBonusRelatedOrganizationsAmt | Other Compensation Filing OrgOtherCompensationFilingOrgAmt | Other Compensation Rltd OrgsOtherCompensationRltdOrgsAmt | Deferred Compensation Flng OrgDeferredCompensationFlngOrgAmt | Deferred Comp Rltd OrgsDeferredCompRltdOrgsAmt | Nontaxable Benefits Filing OrgNontaxableBenefitsFilingOrgAmt | Nontaxable Benefits Rltd OrgsNontaxableBenefitsRltdOrgsAmt | Total Compensation Filing OrgTotalCompensationFilingOrgAmt | Total Compensation Rltd OrgsTotalCompensationRltdOrgsAmt | Comp Report Prior990 Filing OrgCompReportPrior990FilingOrgAmt | Comp Report Prior990 Rltd OrgsCompReportPrior990RltdOrgsAmt |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| RICHARD APOSTOLIK | ||||||||||||||
| PRESIDENT & CEO | $900,095 | $0 | $1,050,000 | $0 | $0 | $0 | $14,500 | $0 | $34,682 | $0 | $1,999,277 | $0 | $0 | $0 |
| CHRISTOPHER J DONOHUE | ||||||||||||||
| MANAGING DIRECTOR | $572,522 | $0 | $450,000 | $0 | $0 | $0 | $14,500 | $0 | $46,001 | $0 | $1,083,023 | $0 | $0 | $0 |
| JOANNA PAISLEY | ||||||||||||||
| CO PRESIDENT GRI | $418,361 | $0 | $412,655 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $831,016 | $0 | $0 | $0 |
| PRISCELLA CERVANTES | ||||||||||||||
| CFO / CAO | $374,861 | $0 | $275,000 | $0 | $0 | $0 | $14,500 | $0 | $50,591 | $0 | $714,952 | $0 | $0 | $0 |
| WILLIAM HENRY MAY | ||||||||||||||
| SVP, GLOBAL HEAD OF RESEARCH | $249,983 | $0 | $285,000 | $0 | $0 | $0 | $14,500 | $0 | $47,551 | $0 | $597,034 | $0 | $0 | $0 |
| RACHEL LERNER | ||||||||||||||
| GENERAL COUNSEL | $324,061 | $0 | $185,000 | $0 | $0 | $0 | $11,696 | $0 | $48,000 | $0 | $568,757 | $0 | $0 | $0 |
| MARK STEVEN CAREY | ||||||||||||||
| CO PRESIDENT GRI (THRU 8/2021) | $227,725 | $0 | $300,000 | $0 | $0 | $0 | $14,500 | $0 | $3,800 | $0 | $546,025 | $0 | $0 | $0 |
| MICHAEL WILLIAM SELL | ||||||||||||||
| HEAD OF BUSINESS DEVELOPMENT | $210,576 | $0 | $185,000 | $0 | $0 | $0 | $10,750 | $0 | $45,562 | $0 | $451,888 | $0 | $0 | $0 |
| JEFFREY MAH | ||||||||||||||
| CIO | $249,922 | $0 | $110,000 | $0 | $0 | $0 | $12,000 | $0 | $33,090 | $0 | $405,012 | $0 | $0 | $0 |
| LILY PAN | ||||||||||||||
| MANAGING DIRECTOR | $180,095 | $0 | $90,000 | $0 | $0 | $0 | $13,504 | $0 | $23,492 | $0 | $307,091 | $0 | $0 | $0 |
Schedule O IRS990ScheduleO
Supplemental Information Detail SupplementalInformationDetail (9 entries)
| Form And Line ReferenceFormAndLineReferenceDesc | ExplanationExplanationTxt |
|---|---|
| FORM 990, PART VI, SECTION A, LINE 6 | MEMBERS: THE ORGANIZATION HAS VARIOUS LEVELS OF DUES PAYING MEMBERS. MEMBERS INCLUDE EMPLOYEES OF MANY FIRMS OPERATING WITHIN THE FINANCIAL INDUSTRY. |
| FORM 990, PART VI, SECTION A, LINE 7A | MEMBER RIGHTS: PURSUANT TO THE ASSOCIATION'S ORGANIZING DOCUMENTS, (ARTICLE VI, SECTION 4(H)), THE ASSOCIATION'S MEMBERS ARE AUTHORIZED TO ELECT MEMBERS TO THE BOARD OF TRUSTEES. |
| FORM 990, PART VI, SECTION B, LINE 11B | REVIEW OF FORM 990: THE FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM, GRANT THORNTON, LLP, IN CONJUNCTION WITH THE ASSOCIATION'S FINANCIAL DEPARTMENT. UPON COMPLETION, THE 990 IS REVIEWED BY THE PRESIDENT AND CFO BEFORE DISTRIBUTION TO THE CHAIRMAN OF THE BOARD OF TRUSTEES AND THE COMPENSATION COMMITTEE. THE FINAL FORM 990 IS MADE AVAILABLE TO THE ENTIRE BOARD OF TRUSTEES VIA EMAIL. |
| FORM 990, PART VI, SECTION B, LINE 12 | CONFLICT OF INTEREST POLICY MONITORING AND ENFORCEMENT: THE ASSOCIATION HAS A CONFLICT OF INTERESTS POLICY IN PLACE THAT IS USED TO IDENTIFY RELATIONSHIPS BETWEEN GARP AND ITS BOARD MEMBERS AND/OR OFFICERS. THERE IS NO FORMAL PROCEDURE IN PLACE TO MONITOR CONFLICTS OF INTEREST; NEVERTHELESS, EACH BOARD MEMBER AND OFFICER IS REQUIRED TO ANNUALLY SIGN-OFF ON THE CONFLICT OF INTEREST POLICY AND DISCLOSE ANY CONFLICTS, IF THEY EXIST. THE ORGANIZATION REVIEWS THE CONFLICT OF INTEREST POLICY ANNUALLY AT A MEETING OF THE BOARD OF DIRECTORS. |
| FORM 990, PART VI, SECTION B, LINE 15A | PROCESS FOR DETERMINING COMPENSATION: THE BOARD DETERMINES THE PRESIDENT'S SALARY VIA A COMPARISON TO OTHER FINANCIAL SERVICES NOT-FOR-PROFIT ORGANIZATIONS, THEIR PRESIDENT'S COMPENSATION AND A WIDE VARIETY OF OTHER FACTORS TO ENSURE THE COMPENSATION IS MARKET BASED AND CONSIDERS THE UNIQUE CHARACTERISTICS AND ACTIVITIES OF GARP. EMPLOYEES' SALARIES AND BONUSES ARE DETERMINED BY THE PRESIDENT BASED ON MARKET RATES FOR SPECIFIC POSITIONS. THE PRESIDENT'S SALARY AND BONUS ARE DETERMINED AND APPROVED BY THE COMPENSATION COMMITTEE ON BEHALF OF THE BOARD OF TRUSTEES. SALARIES AND BONUSES OF THE PRESIDENT'S DIRECT REPORTS ARE DETERMINED BY THE PRESIDENT BASED ON MARKET RATES FOR SPECIFIC POSITIONS AND RECOMMENDED TO THE COMPENSATION COMMITTEE FOR THEIR REVIEW AND APPROVAL. THE INDIVIDUALS THAT MAKE UP THE COMPENSATION COMMITTEE ARE ALL INDEPENDENT PRACTITIONERS IN THE FINANCIAL SERVICES INDUSTRY WHO HAVE FIRST-HAND EXPERIENCE IN COMPENSATING LARGE GROUPS OF PROFESSIONALS. THIS EXPERIENCE AND KNOWLEDGE OF THE INDUSTRY ASSISTS THE COMMITTEE TO DETERMINE REASONABLE AND APPROPRIATE COMPENSATION FOR THE PRESIDENT AND HIS DIRECT REPORTS. |
| FORM 990, PART VI, SECTION C, LINE 19 | DISCLOSURE OF DOCUMENTS: THE ASSOCIATION'S FORM 990 IS AVAILABLE AT ITS MAIN PLACE OF BUSINESS AND ON THE INTERNET AT WWW.GUIDESTAR.ORG. THE ASSOCIATION MAKES ITS CONFLICT OF INTEREST POLICY, ITS ORGANIZING DOCUMENTS AND ITS FINANCIAL STATEMENTS AVAILABLE ON ITS WEBSITE, WWW.GARP.COM. |
| FORM 990, PART VII: | THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN PART VII, COLUMN F AND NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. |
| FORM 990, PART VII, LINE 5, PART V, LINE 2B AND PART IX, LINES 10 & 24B: | FEDERAL EMPLOYMENT TAX FILINGS AND PAYROLL TAXES EXPENSE: GARP USES THE SERVICES OF A PROFESSIONAL EMPLOYER ORGANIZATION (PEO). THE PEO LEASES EMPLOYEES TO GARP AND COVERS ALL HUMAN RESOURCES AND PAYROLL FUNCTIONS. W-2S AND ALL EMPLOYMENT TAX RETURNS ARE FILED BY THE PEO INCLUDED IN THE OVERALL FEE THAT GARP PAYS TO THE PEO IS THE AMOUNT FOR ALL RELEVANT PAYROLL TAXES. THIS TOTAL FEE IS SHOWN AS ONE NUMBER ON FORM 990, AS A PAYROLL SERVICE FEE, ON LINE 24B. GENERAL STATEMENT REGARDING THE COVID-19 PANDEMIC: IN MARCH 2020, THE WORLD HEALTH ORGANIZATION DECLARED COVID-19 A PANDEMIC RESULTING IN FEDERAL, STATE AND LOCAL GOVERNMENTS MANDATING VARIOUS RESTRICTIONS, INCLUDING TRAVEL RESTRICTIONS, RESTRICTIONS ON PUBLIC GATHERINGS, AND STAY AT HOME ORDERS. AS A RESULT, THE ASSOCIATION HAD TO POSTPONE MANY EXAMS DURING 2020 AND DEFER THEM INTO 2021. TO ACCOMMODATE CANDIDATES WHO WERE UNABLE TO SIT IN 2020, TWO ADDITIONAL EXAM CYCLES (JANUARY AND JULY) WERE ADDED IN 2021. THIS RESULTED IN AN INCREASE OF EXAM REVENUE AND A DECREASE TO DEFERRED REVENUE. |
| FORM 990, PART XI, LINE 9: | FOREIGN CURRENCY UNREALIZED LOSS -80,589. |
Schedule R IRS990ScheduleR
Id Disregarded Entities IdDisregardedEntitiesGrp (4 entries)
| Address Line1USAddress/AddressLine1Txt | CityUSAddress/CityNm | State AbbreviationUSAddress/StateAbbreviationCd | ZIPUSAddress/ZIPCd | EINEIN | Primary ActivitiesPrimaryActivitiesTxt | Legal Domicile StateLegalDomicileStateCd | Total IncomeTotalIncomeAmt | End Of Year AssetsEndOfYearAssetsAmt | Business Name Line1DirectControllingEntityName/BusinessNameLine1Txt | Address Line1ForeignAddress/AddressLine1Txt | CityForeignAddress/CityNm | CountryForeignAddress/CountryCd | Legal Domicile Foreign CountryLegalDomicileForeignCountryCd | Foreign PostalForeignAddress/ForeignPostalCd |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GARP RISK ACADEMY LLC | ||||||||||||||
| 111 TOWN SQUARE PLACE 14TH FL | JERSEY CITY | NJ | 07310 | 203453938 | CERTIFICATES | NJ | $936,745 | $4,250,249 | GARP | |||||
| GARP-UK LTD (UK TAX REF #6801977815814) | ||||||||||||||
| SUPPORTS GARP | $2,782,419 | $1,860,509 | GARP | 17 DEVONSHIRE SQUARE 4TH FL | LONDON | UK | UK | |||||||
| GARP HK LIMITED (HK TAX REF #38379370000090) | ||||||||||||||
| SUPPORTS GARP | $921,477 | $620,531 | GARP | THE CENTER 99 QUEENS ROAD CENTRAL | CENTRAL | HK | HK | |||||||
| GARP SG PTE LTD (SN TAX REF #202003118M) | ||||||||||||||
| SUPPORTS GARP | -$98 | $7,409 | GARP | OUE DOWNTOWN 6 SHENTON WAY 38-01 | SHENTON | SN | SN | 068809 | ||||||
Id Related Org Txbl Corp Tr IdRelatedOrgTxblCorpTrGrp
Related Organization Name RelatedOrganizationName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | FINANCIAL CRIME AND INTELLIGENCE INSIGHTS INC | BusinessNameLine1Txt |
US Address USAddress
| Field | Value | IRS element (for citing) |
|---|---|---|
| Address Line1 | 111 TOWN SQUARE PLACE 14TH FLR | AddressLine1Txt |
| City | JERSEY CITY | CityNm |
| State Abbreviation | NJ | StateAbbreviationCd |
| ZIP | 07310 | ZIPCd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| EIN | 873927948 | EIN |
| Primary Activities | FINANCIAL SECURITY | PrimaryActivitiesTxt |
| Legal Domicile State | DE | LegalDomicileStateCd |
Direct Controlling Entity Name DirectControllingEntityName
| Field | Value | IRS element (for citing) |
|---|---|---|
| Business Name Line1 | GARP | BusinessNameLine1Txt |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Entity Type | C | EntityTypeTxt |
| Ownership | 1.00000 | OwnershipPct |
| Controlled Organization | Yes (1) | ControlledOrganizationInd |
| Field | Value | IRS element (for citing) |
|---|---|---|
| Receipt Of Int Annts Rnts Rylts | 0 | ReceiptOfIntAnntsRntsRyltsInd |
| Gift Grnt Or Cap Contri To Oth Org | 0 | GiftGrntOrCapContriToOthOrgInd |
| Gift Grnt Cap Contri From Oth Org | 0 | GiftGrntCapContriFromOthOrgInd |
| Loans Or Guarantees To Other Org | 0 | LoansOrGuaranteesToOtherOrgInd |
| Loans Or Guarantees From Oth Org | 0 | LoansOrGuaranteesFromOthOrgInd |
| Div Related Organization | 0 | DivRelatedOrganizationInd |
| Asset Sale To Other Org | 0 | AssetSaleToOtherOrgInd |
| Asset Purchase From Other Org | 0 | AssetPurchaseFromOtherOrgInd |
| Asset Exchange | 0 | AssetExchangeInd |
| Rental Of Facilities To Oth Org | 0 | RentalOfFacilitiesToOthOrgInd |
| Rental Of Fclts From Oth Org | 0 | RentalOfFcltsFromOthOrgInd |
| Perform Of Services For Oth Org | 0 | PerformOfServicesForOthOrgInd |
| Perform Of Services By Other Org | 0 | PerformOfServicesByOtherOrgInd |
| Sharing Of Facilities | 0 | SharingOfFacilitiesInd |
| Paid Employees Sharing | 0 | PaidEmployeesSharingInd |
| Reimbursement Paid To Other Org | 0 | ReimbursementPaidToOtherOrgInd |
| Reimbursement Paid By Other Org | 0 | ReimbursementPaidByOtherOrgInd |
| Transfer To Other Org | 0 | TransferToOtherOrgInd |
| Transfer From Other Org | 0 | TransferFromOtherOrgInd |
Supplemental Information Detail SupplementalInformationDetail
| Field | Value | IRS element (for citing) |
|---|---|---|
| Form And Line Reference | PART I, IDENTIFICATION OF DISREGARDED ENTITES | FormAndLineReferenceDesc |
| Explanation | DUE TO SPACE LIMITATIONS ON THE FACE OF SCHEDULE R, THE ASSOCIATION IS PROVIDING THE FOLLOWING INFORMATION ABOUT EACH DISREGARDED ENTITY'S PRINCIPAL BUSINESS ACTIVITY. 1. GARP RISK ACADEMY, LLC OFFERS ALL CERTIFICATES EXCEPT FRM. 2. GARP-UK LTD A SERVICE COMPANY THAT SUPPORTS GARP US' ACTIVITIES. 3. GARP HK LIMITED TO DEVELOP GARP CERTIFICATION AND RISK EDUCATION BUSINESS IN ASIA. 4. GARP SG PTE. LTD. BUSINESS SUPPORT & MARKETING SERVICES TO HEAD OFFICE & BUSINESS DEVELOPMENT | ExplanationTxt |