2021-11-15T21:59:57-06:00 2020-12-31 381357951 PLANTE & MORAN PLLC 10 S RIVERSIDE PLAZA 9TH FLOOR CHICAGO IL 60606 990 2020-01-01 834526499 SOCIETY OF ACTUARIES PROFESSIONAL ASSOCIATION SOCI 8477063500 475 N MARTINGALE ROAD NO 600 SCHAUMBURG IL 60173 GREGORY HEIDRICH CEO 8477063500 2021-11-15 1 GREGORY HEIDRICH 999009999 LU ANN TRAPP P01506476 3122071040 2021-11-15 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z X SOCIETY OF ACTUARIES GREGORY HEIDRICH 475 N MARTINGALE ROAD NO 600 SCHAUMBURG IL 60173 42798462 0 X WWW.SOA.ORG X 2020 IL THROUGH EDUCATION AND RESEARCH, THE SOA ADVANCES ACTUARIES AS LEADERS IN MEASURING (SEE SCHEDULE O) AND MANAGING RISK TO IMPROVE FINANCIAL OUTCOMES FOR INDIVIDUALS, ORGANIZATIONS, AND THE PUBLIC. 18 18 0 7895 112975 0 0 42768631 14689 15142 42798462 449122 0 17163451 0 0 20830563 38443136 4355326 31427887 27774245 3653642 THROUGH EDUCATION AND RESEARCH, THE SOA ADVANCES ACTUARIES AS LEADERS IN MEASURING AND MANAGING RISK TO IMPROVE FINANCIAL OUTCOMES FOR INDIVIDUALS, ORGANIZATIONS, AND THE PUBLIC. 0 0 MEMBERSHIP: THE SOA IS A MEMBERSHIP ORGANIZATION WITH MORE THAN 31,000 MEMBERS WORLDWIDE, MAKING IT THE LARGEST PROFESSIONAL ASSOCIATION OF ACTUARIES IN THE WORLD. AS PART OF ITS MISSION, THE SOA PROVIDES RIGOROUS AND COMPREHENSIVE EDUCATION AND TESTING TO ITS MEMBERS AS PART OF THE PROCESS OF EARNING THEIR CREDENTIALS. SOA-CREDENTIALED MEMBERS ARE EQUIPPED TO PROVIDE IMPORTANT AND VALUABLE EXPERTISE AND ADVICE ON A VARIETY OF RISK MANAGEMENT AND FINANCIAL SECURITY ISSUES, INCLUDING DEVELOPING PENSION PLANS FOR BUSINESSES AND PUBLIC ENTITIES, CONSULTING ON BUILDING SECURE HEALTH AND LIFE INSURANCE SYSTEMS AND PROVIDING RISK MANAGEMENT ADVICE ON AN ENTERPRISE-WIDE LEVEL TO MANY TYPES OF COMMERCIAL ORGANIZATIONS. PRELIMINARY EDUCATION: SOA'S EXAMINATIONS INCLUDE CORE TOPICS COMMON TO ALL ACTUARIAL DISCIPLINES TO ENSURE THAT ALL SOA MEMBERS HAVE BROAD KNOWLEDGE OF RISK MANAGEMENT AND FINANCIAL SECURITY ISSUES THAT FACE BUSINESSES AND INDIVIDUALS. CANDIDATES FOR SOA MEMBERSHIP ALSO TAKE EXAMS THAT ARE SPECIFICALLY FOCUSED ON A PARTICULAR AREA OF PRACTICE TO ENSURE THAT THEY HAVE THE DETAILED KNOWLEDGE TO PROVIDE TO THE ORGANIZATIONS AND PUBLIC THE HIGHEST LEVEL OF EXPERTISE IN THEIR CHOSEN PRACTICE. THIS COMPREHENSIVE AND RIGOROUS EDUCATIONAL SYSTEM DEVELOPS ACTUARIES WHO ARE ABLE TO DELIVER EXPERTISE WITH THE HIGH STANDARDS THAT MEET THE NEEDS OF INDIVIDUALS, COMMERCIAL AND PUBLIC ORGANIZATIONS AND THE PUBLIC AT LARGE, RELIEVING PUBLIC OR GOVERNMENTAL ORGANIZATIONS FROM HAVING TO PROVIDE SUCH EDUCATIONAL OVERSIGHT. CONTINUING EDUCATION: THE SOA CONDUCTS VARIOUS EVENTS AND PROFESSIONAL DEVELOPMENT OPPORTUNITIES TO ENSURE CONTINUED PROFESSIONAL GROWTH AND EXCELLENCE FOR ITS MEMBERS. SOA MEMBERS ARE REQUIRED TO MEET A DEFINED LEVEL OF CONTINUING EDUCATION ANNUALLY IN ORDER TO MAINTAIN THEIR CREDENTIAL. THIS REQUIREMENT ASSURES THAT ALL SOA MEMBERS, EVEN THOSE WHO INITIALLY EARNED THEIR CREDENTIAL YEARS EARLIER, STAY CURRENT ON THE LATEST ACTUARIAL PRACTICES, KNOWLEDGE AND RESEARCH - AND THE EVER-EVOLVING SOCIETAL ISSUES THAT REQUIRE ACTUARIAL EXPERTISE. THIS LIFELONG LEARNING SUPPORTS ACTUARIES AS THEY PROVIDE EXPERT ADVICE AND RELEVANT SOLUTIONS FOR FINANCIAL, BUSINESS AND SOCIETAL PROBLEMS. 0 0 0 1 0 0 0 0 0 1 0 0 1 1 1 0 1 0 1 1 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 112 0 1 0 1 1 1 CA UK CH 0 0 1 1 0 0 0 X 18 18 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X STACY DR LIN 8477063500 475 N MARTINGALE ROAD SCHAUMBURG IL 601732252 X SUE BLANCK BOARD MEMBER 1.00 1.00 X 0 0 0 JULIE CURTIS BOARD MEMBER 1.00 1.00 X 0 0 0 ARPITA DAS BOARD MEMBER 1.00 1.00 X 0 0 0 JOSEE DEROY BOARD MEMBER 1.00 1.00 X 0 0 0 DAVID DILLON BOARD MEMBER 1.00 1.00 X 0 0 0 ROBERT EATON BOARD MEMBER 1.00 1.00 X 0 0 0 WILLIAM B FORNIA SECRETARY/TREASURER 1.00 1.00 X X 0 0 0 SHARON GIFFEN BOARD MEMBER 1.00 1.00 X 0 0 0 JAMES GLICKMAN PAST PRESIDENT 1.00 1.00 X X 0 0 0 JENNIFER GILLESPIE PRESIDENT-ELECT 1.00 1.00 X X 0 0 0 ROY GOLDMAN PRESIDENT 1.00 1.00 X X 0 0 0 JENNIFER HAID BOARD MEMBER 1.00 1.00 X 0 0 0 CHRSTINE HOFBECK SECRETARY/TREASURER 1.00 1.00 X X 0 0 0 AMANDA HUG BOARD MEMBER 1.00 1.00 X 0 0 0 LISA KUKLINSKI BOARD MEMBER 1.00 1.00 X 0 0 0 WENDY LIANG BOARD MEMBER 1.00 1.00 X 0 0 0 TERRY LONG BOARD MEMBER 1.00 1.00 X 0 0 0 ANDREW RALLIS PRESIDENT 1.00 1.00 X X 0 0 0 DAVID SANDBERG BOARD MEMBER 1.00 1.00 X 0 0 0 SARA TEPPEMA BOARD MEMBER 1.00 1.00 X 0 0 0 NAZIR VALANI BOARD MEMBER 1.00 1.00 X 0 0 0 LING-LING WANG BOARD MEMBER 1.00 1.00 X 0 0 0 XU XUAN BOARD MEMBER 1.00 1.00 X 0 0 0 YING ZHAO BOARD MEMBER 1.00 1.00 X 0 0 0 GREG HEIDRICH CEO 36.00 4.00 X 0 657262 61569 STACY LIN DEPUTY CEO/CFO 36.00 4.00 X 0 394956 72736 R DALE HALL MANAGING DIRECTOR RESEARCH 36.00 4.00 X 0 353688 68418 KENNETH GUTHRIE MANAGING DIRECTOR EDUCATION 36.00 4.00 X 0 346142 67434 RICHARD VEYS GENERAL COUNSEL 36.00 4.00 X 0 321048 45374 MICHAEL BOOT MANAGING DIRECTOR, ENGAGEMENT 36.00 4.00 X 0 311762 52468 ANDREW PETERSON SR. DIRECTOR, INTERNATIONAL 36.00 4.00 X 0 255482 58217 JOSEPH WURZBURGER SR. DIRECTOR, INNOVATION 36.00 4.00 X 0 227942 55114 TIMOTHY MOBERLY SR. DIRECTOR, ITS 36.00 4.00 X 0 224040 44386 CAROL KOZLOWSKI SR. DIRECTOR, HR 36.00 4.00 X 0 219028 32735 ANNA CLARKE SR. DIRECTOR, MARKETING 36.00 4.00 X 0 213128 34706 STUART KLUGMAN SR STAFF ACTUARY 36.00 4.00 X 0 256828 38165 EMILY KESSLER SR STAFF ACTUARY 36.00 4.00 X 0 249572 38152 ANN WEBER GOVERNMENT AFFAIRS DIRECTOR 36.00 4.00 X 0 229862 57292 CYNTHIA MACDONALD SR. DIRECTOR, EXPERIENCE STUDIES 36.00 4.00 X 0 228280 53547 LISA SCHILLING STAFF ACTUARY 36.00 4.00 X 0 230824 24863 0 4719844 805176 0 0 1 0 PROMETRIC INC PO BOX 223608 PITTSBURGH PA 15251 HOST TEST CENTERS 3628035 GLOBEBYTE 41 LONDON RD REIGATE ENGLAND UK RH29RJ IT SERVICE PROVIDER 739638 GOLINHARRIS INTERNATIONAL 875 N MICHIGAN AVE CHICAGO IL 60611 MARKETING CONSULTANT 406003 COMMPARTNERS 7230 LEE DEFOREST DRIVE STE 206 COLUMBIA MD 21046 AV SERVICES 369250 PERSONIFY INC PO BOX 735327 DALLAS TX 753735327 HOSTING AMS 268224 19 EDUCATION AND EXAM FEES 611710 21312979 21312979 MEMBERSHIP DUES 611710 17209831 17209831 PROFESSIONAL DEVELOPMENT FEES 611710 3738741 3738741 OTHER PROGRAM REVENUE 611710 394105 394105 ADVERTISING 541800 112975 112975 42768631 14689 14689 15142 15142 42798462 42655656 112975 29831 X 191822 119800 137500 3705871 10560975 830954 1158641 907010 7144700 2505895 833377 742540 629460 1121659 220280 IP LICENSE 3000000 MAINTENANCE 1825796 HONG KONG JOINT OFFICE 712850 SOFTWARE SUPPORT AND DE 538029 1555977 38443136 944248 15938396 61662 259444 1129536 780746 44794 0 735952 0 12358649 0 31427887 3919119 21855126 0 2000000 0 27774245 X 3653642 0 3653642 0 31427887 X 4355326 -701685 X 0 1 X 1 0 0 1 0 303511 8945 294566 477235 35849 441386 735952 DUE FROM RELATED ORG - SOCIETY OF ACTUARIES RESEARCH INSTITUTE 12358649 12358649 DUE TO RELATED ORG - SOCIETY OF ACTUARIES RESEARCH INSTITUTE 2000000 2000000 X 51885651 9087189 9087189 42798462 0 42798462 42663871 4220736 4220736 38443135 0 38443135 PART X, LINE 2: THE ACCOUNTING STANDARD ON ACCOUNTING FOR UNCERTAINTY IN INCOME TAXES ADDRESSES THE DETERMINATION OF WHETHER TAX BENEFITS CLAIMED OR EXPECTED TO BE CLAIMED ON A TAX RETURN SHOULD BE RECORDED IN THE FINANCIAL STATEMENTS. UNDER THIS GUIDANCE, THE SOCIETY MAY RECOGNIZE THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. EXAMPLES OF TAX POSITIONS INCLUDE THE TAX-EXEMPT STATUS OF THE SOCIETY AND VARIOUS POSITIONS RELATED TO THE POTENTIAL SOURCES OF UNRELATED BUSINESS TAXABLE INCOME (UBIT). THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION WERE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50 PERCENT LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. THERE ARE NO UNRECOGNIZED TAX BENEFITS IDENTIFIED OR RECORDED AS LIABILITIES FOR THE REPORTING PERIODS PRESENTED IN THESE CONSOLIDATED FINANCIAL STATEMENTS. THE SOA AND THE INSTITUTE EACH FILE A FORM 990 IN THE U.S. FEDERAL JURISDICTION AND THE INSTITUTE ALSO FILES THE FORM IN THE STATE OF ILLINOIS. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUE OF RELATED ORGANIZATION, SOA RI- CONSOLIDATED FINANCIAL STATEMENTS 12,916,074. UNREALIZED CURRENCY GAIN 46,158. INTER-COMPANY REVENUE - RELATED ORGANIZATION -3,127,200. PROVISION FOR LOAN UNCOLLECTIBILITY -747,843. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES OF RELATED ORGANIZATION, SOA RI- CONSOLIDATED FINANCIAL STATEMENTS 7,347,936. INTER-COMPANY EXPENSE - RELATED ORGANIZATION -3,127,200. 1 EAST ASIA AND PACIFIC 1 3 GRANTS TO RECIPIENTS GRANT TO RECIPIENTS 7500 NORTH AMERICA GRANTS TO RECIPIENTS GRANT TO RECIPIENTS 130000 NORTH AMERICA 1 3 PROGRAM ACTIVITIES PROGRAM ACTIVITIES 23164 CENTRAL AMERICA AND THE CARIBBEAN PROGRAM ACTIVITIES PROGRAM ACTIVITIES 30000 EUROPE PROGRAM ACTIVITIES PROGRAM ACTIVITIES 524298 2 6 0 0 2 6 714962 0 714962 EAST ASIA AND PACIFIC EDUCATION GRANT 7500 1 EDUCATION GRANT NORTH AMERICA 7 130000 CHECK 0 0 1 0 0 0 PART I, LINE 2: ALL EDUCATIONAL GRANTS STATE THAT THE FUNDS ARE TO BE USED FOR EDUCATIONAL EXPENSES. EACH EDUCATIONAL GRANT IS MONITORED BY STAFF FOR COMPLIANCE WITH THE REQUIREMENTS OF THE PROGRAM. THE REVIEW, SELECTION, AND MONITORING OF RESEARCH GRANTS IS CONDUCTED BY A PROJECT OVERSIGHT GROUP (POG) AND RECIPIENTS ARE REQUIRED TO SUBMIT PROGRESS REPORTS. PART III ACCOUNTING METHOD: 1 CASUALTY ACTUARIAL SOCIETY 4350 N FAIRFAX DRIVE SUITE 250 ARLINGTON VA 22203 136113674 501C3 13803 DIVERSITY GRANT MORGAN STATE UNIVERSTIY ACTUARIAL SCIENCE 1700 E COLD SPRING LANE BALTIMORE MD 21251 386006309 501C3 8000 DIVERSITY GRANT HOWARD UNIVERSITY 2600 6TH STREET NW STE 236 WASHINGTON DC 20059 530204707 501C3 8000 DIVERSITY GRANT INTERNATIONAL ASSOCIATION OF BLACK ACTUARIES 45 TEN ACRE LANE WEST HARTFORD CT 06127 200761668 501C3 29800 DIVERSITY GRANT AND SCHOLARSHIPS SOCIETY OF ACTUARIES RESEARCH INSTITUTE 475 N MARTINGALE RD SCHAUMBURG IL 60173 362136422 501C3 127200 RESEARCH GRANT KETTERING UNIVERSITY - DEPT OF MATH 1700 UNIVERSITY AVE KETTERING MI 48504 382410852 501C3 5000 EDUCATION GRANT 5 0 EDUCATION GRANTS 6 90000 EDUCATION GRANTS 130 29800 PART I, LINE 2: ALL EDUCATIONAL GRANTS STATE THAT THE FUNDS ARE TO BE USED FOR EDUCATIONAL EXPENSES. EACH EDUCATIONAL GRANT IS MONITORED BY STAFF FOR COMPLIANCE WITH THE REQUIREMENTS OF THE PROGRAM. THE REVIEW, SELECTION, AND MONITORING OF RESEARCH GRANTS IS CONDUCTED BY A PROJECT OVERSIGHT GROUP (POG) AND RECIPIENTS ARE REQUIRED TO SUBMIT PROGRESS REPORTS. X X X 1 1 X X X X X 0 0 0 GREG HEIDRICH CEO 0 522262 0 135000 0 0 0 48000 0 13569 0 718831 0 0 STACY LIN DEPUTY CEO/CFO 0 319561 0 75395 0 0 0 40599 0 32137 0 467692 0 0 R DALE HALL MANAGING DIRECTOR RESEARCH 0 302711 0 50977 0 0 0 36591 0 31827 0 422106 0 0 KENNETH GUTHRIE MANAGING DIRECTOR EDUCATION 0 296650 0 49492 0 0 0 35437 0 31997 0 413576 0 0 RICHARD VEYS GENERAL COUNSEL 0 279276 0 41772 0 0 0 31798 0 13576 0 366422 0 0 MICHAEL BOOT MANAGING DIRECTOR, ENGAGEMENT 0 281572 0 30190 0 0 0 31195 0 21273 0 364230 0 0 ANDREW PETERSON SR. DIRECTOR, INTERNATIONAL 0 224130 0 31352 0 0 0 26735 0 31482 0 313699 0 0 STUART KLUGMAN SR STAFF ACTUARY 0 226643 0 30185 0 0 0 25543 0 12622 0 294993 0 0 EMILY KESSLER SR STAFF ACTUARY 0 221808 0 27764 0 0 0 25079 0 13073 0 287724 0 0 ANN WEBER GOVERNMENT AFFAIRS DIRECTOR 0 214070 0 15792 0 0 0 23654 0 33638 0 287154 0 0 JOSEPH WURZBURGER SR. DIRECTOR, INNOVATION 0 210449 0 17493 0 0 0 23758 0 31356 0 283056 0 0 CYNTHIA MACDONALD SR. DIRECTOR, EXPERIENCE STUDIES 0 212637 0 15643 0 0 0 23896 0 29651 0 281827 0 0 TIMOTHY MOBERLY SR. DIRECTOR, ITS 0 200465 0 23575 0 0 0 22910 0 21476 0 268426 0 0 LISA SCHILLING STAFF ACTUARY 0 215884 0 14940 0 0 0 22817 0 2046 0 255687 0 0 CAROL KOZLOWSKI SR. DIRECTOR, HR 0 189811 0 29217 0 0 0 21941 0 10794 0 251763 0 0 ANNA CLARKE SR. DIRECTOR, MARKETING 0 213128 0 0 0 0 0 21683 0 13023 0 247834 0 0 PART I, LINE 1A THE LESSER OF FIRST CLASS OR BUSINESS CLASS TRAVEL IS ALLOWED ON FLIGHTS LONGER THAN 7 HOURS AND OUTSIDE OF THE US AND CANADA. IT IS A REIMBURSABLE BUSINESS EXPENSE AND THEREFORE, NOT TAXABLE COMPENSATION. SPOUSAL TRAVEL IS ALLOWED FOR THE PAST-PRESIDENT, PRESIDENT, PRESIDENT-ELECT, AND SECRETARY/TREASURER AND IS TREATED AS TAXABLE COMPENSATION. IN ORDER TO PROMOTE A HEALTHY LIFESTYLE, HEALTH CLUB DUES ARE PROVIDED UP TO $120 PER CALENDAR YEAR AND ARE TREATED AS TAXABLE COMPENSATION. FORM 990 - PART I - RESTRUCTURING EXPLANATION A CORPORATE RESTRUCTURING OF A RELATED ORGANIZATION RESULTED IN THE FORMATION OF A NEW NONPROFIT ENTITY - THE FILING ORGANIZATION, THE SOCIETY OF ACTUARIES. THE RELATED ORGANIZATION, PREVIOUSLY KNOWN AS THE SOCIETY OF ACTUARIES, WAS RENAMED THE SOCIETY OF ACTUARIES RESEARCH INSTITUTE (THE INSTITUTE). THE RELATED ORGANIZATION REMAINS A TAX-EXEMPT ENTITY UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE (IRC) AND CONTINUES TO CARRY OUT THE CHARITABLE AND RESEARCH ACTIVITIES OF ITS ORIGINAL MISSION. THE FILING ORGANIZATION, THE NEWLY CREATED ORGANIZATION, IS TAX EXEMPT UNDER SECTION 501(C)(6) OF THE IRC AND ITS PURPOSE IS TO ESTABLISH AND MAINTAIN STANDARDS FOR QUALIFICATION FOR MEMBERSHIP. THE FILING ORGANIZATION ADOPTED THE NAME "SOCIETY OF ACTUARIES AND ADOPTED BY-LAWS IDENTICAL TO THOSE OF THE ORIGINAL ENTITY. THE RELATED ORGANIZATION, THE INSTITUTE OPERATES AS A CONTROLLED AFFILIATE OF THE FILING ORGANIZATION, THROUGH COMMON MEMBERSHIP OF THEIR RESPECTIVE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 1 THE LEADERSHIP TEAM CONSISTS OF FOUR OFFICERS, ONE AT LARGE BOD MEMBER AND THE CEO. THE LEADERSHIP TEAM HAS THE AUTHORITY TO CARRY OUT THE BUSINESS AND FUNCTIONS OF THE SOA BETWEEN MEETINGS OF THE BOARD OF DIRECTORS. THE LEADERSHIP TEAM IS THE PRINCIPAL COMMITTEE FOR THE OVERSIGHT AND MANAGEMENT OF THE WORK OF THE SOA. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS AN ANNUAL ELECTION IN WHICH MOST MEMBERS HAVE THE OPPORTUNITY TO PARTICIPATE AND VOTE ON BOARD MEMBERS. FORM 990, PART VI, SECTION A, LINE 7A THE ORGANIZATION HAS AN ANNUAL ELECTION IN WHICH MOST MEMBERS HAVE THE OPPORTUNITY TO PARTICIPATE AND VOTE ON BOARD MEMBERS. THE BYLAWS MAY BE ALTERED, AMENDED, OR REPEALED AND NEW BYLAWS MAY BE ADOPTED BY AN AFFIRMATIVE VOTE OF TWO-THIRDS OF THE ENTIRE BOARD OF DIRECTORS; BUT PROVISIONS AFFECTING THE SUBSTANTIVE RIGHTS OF THE SOA'S MEMBERS ALSO REQUIRE THE AFFIRMATIVE VOTE OF TWO-THIRDS OR AT LEAST TWENTY-FIVE PERCENT OF FELLOWS, IF AT A MEETING, OR A MAJORITY OF FELLOWS ENTITLED TO VOTE, IF IN WRITING. FORM 990, PART VI, SECTION A, LINE 7B SEE RESPONSE TO QUESTION 7A. FORM 990, PART VI, SECTION B, LINE 11B THE RETURN WAS PREPARED BY OUR OUTSIDE TAX ADVISOR AND REVIEWED BY MANAGEMENT. THE AUDIT AND RISK COMMITTEE THEN REVIEWED THE RETURN WITH OUR OUTSIDE TAX ADVISOR AND PROVIDED FURTHER COMMENTS BEFORE THEY APPROVED IT FOR FILING WITH THE IRS. THIS REVIEW CONDUCTED BY THE AUDIT COMMITTEE IS CONSISTENT WITH THEIR DUTIES OUTLINED IN THEIR CHARTER. FORM 990, PART VI, SECTION B, LINE 12C ANY INDIVIDUAL INVOLVED IN AN SOA ACTIVITY OR DECISION-MAKING PROCESS HAS AN OBLIGATION TO DISCLOSE ANNUALLY ANY CONFLICTING OR POTENTIALLY CONFLICTING PERSONAL, PROFESSIONAL, OR BUSINESS INTEREST HE OR SHE MAY HAVE, DIRECTLY OR INDIRECTLY, WITH THE AFFECTED ACTIVITY OR DECISION. ALL FORMS ARE COLLECTED BY THE APPROPRIATE INTERNAL STAFF MEMBER. PARTICIPANTS REMAIN UNDER A CONTINUING OBLIGATION TO REPORT CONFLICTS AS THEY ARISE. THE BOARD MAY REQUIRE REGULAR REPORTING AT THE START OF BOARD, COMMITTEE, SECTION COUNCIL, AND OTHER MEETINGS. IF IT IS DETERMINED THAT A CONFLICT OF INTEREST EXISTS, THE MATTER IS THEN BROUGHT TO THE CEO, WHO SERVES AS THE SOA CONFLICTS ADMINISTRATOR. THE CONFLICTS ADMINISTRATOR IN CONSULTATION WITH LEGAL COUNSEL AND/OR THE LEADERSHIP TEAM, ASSESSES THE SIGNIFICANCE OF A GIVEN INTEREST OR RELATIONSHIP TO THE SOA AND DETERMINES THE APPROPRIATE ACTION. IF THE INDIVIDUAL CANNOT OTHERWISE RESOLVE THE CONFLICT, THE LEADERSHIP TEAM MAY REQUIRE ANY ACTION IT DEEMS APPROPRIATE, INCLUDING RECUSAL FROM VOTING ON THE MATTER, COMPLETE RECUSAL FROM A PORTION OF THE MEETING OR FROM OTHER CONSIDERATION OF THE SUBJECT MATTER, OR REPLACING THE INDIVIDUAL IN THE AFFECTED POSITION OR ACTIVITY. FORM 990, PART VI, SECTION B, LINE 15 A COMPENSATION STUDY IS PERFORMED EVERY OTHER YEAR TO COMPLETE A MARKET COMPARISON STUDY FOR ALL POSITIONS OF THE ORGANIZATION. ADDITIONALLY, MARKET DATA IS GATHERED EACH YEAR TO DETERMINE THE ANNUAL COMPENSATION ADJUSTMENT FOR ALL EMPLOYEES. THE PRESIDENTIAL OFFICERS AND THE SECRETARY/TREASURER, WITH INPUT FROM THE BOARD, ARE RESPONSIBLE FOR DETERMINING COMPENSATION AND BENEFITS FOR THE CEO AFTER REVIEWING COMPARABLE DATA FROM SEVERAL INDEPENDENT SOURCES. ADDITIONALLY, THE PRESIDENTIAL OFFICERS AND THE SECRETARY/TREASURER REVIEW MANAGEMENT'S RECOMMENDATION FOR ANNUAL COMPENSATION ADJUSTMENTS FOR OFFICERS AND KEY EMPLOYEES. THE DISCUSSION AND PROCESS ARE CONTEMPORANEOUSLY DOCUMENTED IN THE MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS ARE AVAILABLE ON THE WEBSITE, SOA.ORG. FINANCIAL STATEMENTS FOR 2018 AND 2019 ARE AVAILABLE ON THE WEBSITE. FORM 990, PART VII, SECTION A: COMPENSATION REPORTED IN PART VII, HAS BEEN PAID BY A RELATED ORGANIZATION AND COMMON PAYMASTER, SOCIETY OF ACTUARIES RESEARCH INSTITUTE, EIN 36-2136422. THE COMPENSATION BEING REPORTED IS FOR FULL TIME POSITIONS, HOWEVER A PORTION OF THESE INDIVIDUAL'S TIME IS DEVOTED TO THE FILING ORGANIZATION AND IS REIMBURSED BY THE FILING ORGANIZATION. SOCIETY OF ACTUARIES RESEARCH INSTITUTE HAS COMPLIED WITH PAYROLL TAX FILING REQUIREMENTS. FORM 990, PART IX, LINE 11G PROFESSIONAL FEES 2,186,239. EXAMINATION GRADING 4,885,778. HR EXPENSE 72,683. FORM 990, PART XI, LINE 9: PROVISION FOR LOAN UNCOLLECTIBILITY -747,843. UNREALIZED CURRENCY GAIN 46,158. SOCIETY OF ACTUARIES RESEARCH INSTITUTE 475 N MARTINGALE RD SCHAUMBURG IL 601732252 362136422 EDUCATIONAL AND RESEARCH ACTIVITIES IL 501(C)(3) LINE 10 SOCIETY OF ACTUARIES 1 CAA GLOBAL LIMITED 7TH FLOOR HOLBORN GATE 326-330 HIG LONDON UK WC1V 7PP DELIVERY AND DEVELOPMENT OF THE CERTIFIED ACTUARIAL ANALYST QUALIFICATION UK 501(C)(3) 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 1 1 0 1 SOCIETY OF ACTUARIES RESEARCH INSTITUTE B 127200 CASH CONTRIBUTION SOCIETY OF ACTUARIES RESEARCH INSTITUTE S 3000000 FMV OF INTELLECTUAL PROPERTY