2025-08-14T05:41:25-05:00 2024-09-30 991856619 GRANT THORNTON ADVISORS LLC 171 N CLARK ST STE 200 CHICAGO IL 60601 990 2023-10-01 363330171 BANK ADMINISTRATION INSTITUTE BANK 3125534600 222 W ADAMS STREET STE 2300 CHICAGO IL 60606 STEVEN SALOUTOS CFO 3125534600 2025-08-13 1 1 BRIDGET ROCHE P00666837 3128560200 2023 2025-03-06 01:10:19Z BAI DEBORAH BIANUCCI 222 W ADAMS STREET STE 2300 CHICAGO IL 60606 6636202 0 X WWW.BAI.ORG X 1984 IL PROVIDE EDUCATION AND TRAINING SERVICES TO ADVANCE THE FINANCIAL SERVICES (CONTINUED IN SCH O) INDUSTRY, ITS EMPLOYEES, AND STUDENTS INTERESTED IN JOINING THE INDUSTRY. X 24 23 0 23 24000 0 0 0 16213 14171 1738762 567259 35727 26806 1790702 608236 0 0 0 0 32951 77760 0 0 0 113417 84113 146368 161873 1644334 446363 45197378 22839003 12540463 327339 32656915 22511664 PROVIDE EDUCATION AND TRAINING SERVICES TO ADVANCE THE FINANCIAL SERVICES INDUSTRY, ITS EMPLOYEES, AND STUDENTS INTERESTED IN JOINING THE INDUSTRY. 0 0 63066 BAI BANKING STRATEGIES, AN ONLINE MAGAZINE, ASSISTS IN EDUCATING INDIVIDUALS ON VARIOUS FINANCIAL TOPICS. 17807 14171 60 PEOPLE ATTENDED BAI'S EDUCATIONAL CONFERENCES AND SEMINARS IN 2024, AND APPROXIMATELY 1.2 MILLION PEOPLE VISITED OUR BAI WEBSITE WHICH PROVIDES THOUGHT LEADERSHIP ON A VARIETY OF FINANCIAL SERVICES TOPICS. 80873 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 1 X 20 0 1 0 1 1 0 0 0 0 0 0 0 0 0 1 0 X 24 23 0 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 IL X STEVEN SALOUTOS CFO 3125534600 222 W ADAMS STREET STE 2300 CHICAGO IL 60606 DEBORAH L BIANUCCI PRESIDENT AND CEO 0.50 39.50 X X 13538 1069484 33478 JODI RICHARD CHAIRMAN OF THE BOARD (BEG 01/24) 0.50 1.50 X X 0 0 0 TODD M BARNHART VICE CHAIRMAN 0.50 1.50 X X 0 0 0 TIMOTHY S CRANE PAST CHAIRMAN 0.50 1.50 X X 0 0 0 SETH WALLER TREASURER (BEG 01/24) 0.50 1.50 X X 0 0 0 CHARLES G KIM SECRETARY 0.50 1.50 X X 0 0 0 GLORIA C BANKS DIRECTOR-AT-LARGE 0.50 1.50 X 0 0 0 STEPHEN B BARON DIRECTOR-AT-LARGE (THRU 12/23) 0.50 1.50 X 0 0 0 ROBERT A BERMAN DIRECTOR-AT-LARGE (THRU 12/23) 0.50 1.50 X 0 0 0 MONICA BOWE DIRECTOR-AT-LARGE (BEG 01/24) 0.50 1.50 X 0 0 0 MARK BRUCKER DIRECTOR-AT-LARGE (BEG 01/24) 0.50 1.50 X 0 0 0 GEORGE BUCHANAN DIRECTOR-AT-LARGE (BEG 01/24) 0.50 1.50 X 0 0 0 LARISSA CHAIKOWSKY DIRECTOR-AT-LARGE 0.50 1.50 X 0 0 0 KATRINA M EVANS DIRECTOR-AT-LARGE (THRU 12/23) 0.50 1.50 X 0 0 0 NIMA GHAMSARI DIRECTOR-AT-LARGE (THRU 12/23) 0.50 1.50 X 0 0 0 DARLENE GOINS DIRECTOR-AT-LARGE 0.50 1.50 X 756 0 0 SHERRY GRAZIANO DIRECTOR-AT-LARGE (THRU 12/23) 0.50 1.50 X 0 0 0 GRAEME HEPWORTH DIRECTOR-AT-LARGE (BEG 01/24) 0.50 1.50 X 0 0 0 CRYSTAL HUMPHREYS DIRECTOR-AT-LARGE (BEG 01/24) 0.50 1.50 X 0 0 0 JOHN T JORDAN DIRECTOR-AT-LARGE 0.50 1.50 X 0 0 0 SUSAN A LAMONICA DIRECTOR-AT-LARGE 0.50 1.50 X 0 0 0 CHRISTOPHER J MCCOMISH DIRECTOR-AT-LARGE (THRU 12/23) 0.50 1.50 X 0 0 0 MARK W MIDKIFF DIRECTOR-AT-LARGE (BEG 01/24) 0.50 1.50 X 0 0 0 AARTHI MURALI DIRECTOR-AT-LARGE (THRU 02/24) 0.50 1.50 X 0 0 0 AMANDA NORTON DIRECTORS-AT-LARGE (BEG 01/24) 0.50 1.50 X 0 0 0 SCOTT M PETERS DIRECTORS-AT-LARGE 0.50 1.50 X 0 0 0 ARIJIT ROY DIRECTOR-AT-LARGE (THRU 12/23) 0.50 1.50 X 0 0 0 HUMBERTO SALOMON DIRECTOR-AT-LARGE (BEG 01/24) 0.50 1.50 X 0 0 0 MARK R SHEEHAN DIRECTOR-AT-LARGE 0.50 1.50 X 0 0 0 KEVIN SLANE DIRECTOR-AT-LARGE (BEG 01/24) 0.50 1.50 X 0 0 0 CLARK STARNES DIRECTOR-AT-LARGE (BEG 01/24) 0.50 1.50 X 0 0 0 AMEESH P VAKHARIA DIRECTOR-AT-LARGE 0.50 1.50 X 0 0 0 JULIE FABER CHIEF FINANCIAL OFFICER (THRU 9/24) 0.50 39.50 X 5084 401665 42608 STEVEN S SALOUTOS INTERIM CFO (BEG 9/24) 0.50 39.50 X 0 0 0 ANN R BARCROFT CHIEF ADMINISTRATIVE OFFICER 0.50 39.50 X 5697 450087 66098 ED MARCHESELLI MANAGING DIRECTOR 0.50 39.50 X 6668 526683 68591 ISIO NELSON MANAGING DIRECTOR 0.50 39.50 X 6129 484153 58450 HOLLY J HUGHES MANAGING DIRECTOR 0.50 39.50 X 4833 381720 55912 RYAN MALAYTER DIRECTOR, TECHNOLOGY 0.50 39.50 X 2916 230365 55373 FREDERIC WAXMAN MARKETING DIRECTOR, STRAT PROG 0.50 39.50 X 2224 175753 47831 47845 3719910 428341 23 0 1 0 CATALYST TECHNOLOGY GROUP INC PO BOX 78000 DETROIT MI 48278 TECH SERVICES 560434 RANDSTAD NORTH AMERICA LP DBA TATUM PO BOX 847872 DALLAS TX 75284 VARIABLE RESOURCES 323584 GRANT THORNTON LLP 171 N CLARK ST STE 200 CHICAGO IL 60601 AUDIT AND TAX SERVICES 113540 EXPRESS INFORMATION SERVICES PO BOX 691261 SAN ANTONIO TX 78269 TECH SERVICES 107635 4 PROGRAMS & CONFERENCES 900099 14171 14171 14171 568828 568828 2806 2806 6026397 6027966 -1569 -1569 -1569 ADVERTISING REVENUE 541800 24000 24000 24000 608236 14171 24000 570065 X 29362 22434 6928 38701 2240 36461 4707 193 4514 2629 448 2181 2361 225 2136 28780 28780 25030 25030 10286 10286 1434 1434 17807 17807 DUES AND SUBSCRIPTIONS 776 776 0 161873 80873 81000 0 190 17781882 2449250 342112 2400 5772234 5772234 518929 0 0 0 763533 0 11728691 14615119 8289807 0 45197378 22839003 3499582 0 9040881 327339 12540463 327339 X 32656915 22511664 32656915 22511664 45197378 22839003 X 446363 2027976 -14209823 1590233 X 0 1 X 1 0 X X 1 PROSIGHT FINANCIAL ASSOCIATION 362026204 10 1 0 0 1 0 0 1 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 1 PART IV, SECTION A, LINE 3B AS OF THE YEAR-ENDED SEPTEMBER 30, 2024, BAI HAS CONFIRMED THAT THE SUPPORTED ORGANIZATION IS QUALIFIED UNDER 501(C)(6) AND SATISFIES THE PUBLIC SUPPORT TEST UNDER 509(A)(2). THE CALCULATION IS MAINTAINED WITHIN THE ORGANIZATION'S RECORDS. PART IV, SECTION A, LINE 3C THE ORGANIZATION ENSURES THAT ALL SUPPORT PROVIDED TO ITS SUPPORTED ORGANIZATION WAS USED EXCLUSIVELY FOR SECTION 170(C)(2)(B) PURPOSES THROUGH MAINTENANCE, REVIEW AND APPROVAL OF THE SUPPORTED ORGANIZATION'S RECORDS. 0 RETIREMENT LIABILITIES 327339 327339 X PART X, LINE 2: ORGANIZATION'S LIABILITY FOR UNCERTAIN TAX POSITIONS UNDER FIN 48 BAI HAS RECEIVED A FAVORABLE DETERMINATION LETTER FROM THE INTERNAL REVENUE SERVICE AS AN EXEMPT ORGANIZATION UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE OF 1986, EXCEPT FOR INCOME TAXES PERTAINING TO UNRELATED BUSINESS INCOME AND EXCISE TAXES. THE FASB GUIDANCE REQUIRES TAX EFFECTS FROM UNCERTAIN TAX POSITIONS TO 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. MANAGEMENT HAS DETERMINED THERE ARE NO MATERIAL UNCERTAIN POSITIONS THAT REQUIRE RECOGNITION IN THE CONSOLIDATED FINANCIAL STATEMENTS. BAI PROPERLY ACCRUED PROVISIONS FOR INCOME TAXES AS THE ENTITY HAS UNRELATED BUSINESS INCOME. THERE ARE NO INTEREST OR PENALTIES RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS. X X X 1 1 X X X X X 0 1 0 1 1 1 1 0 0 DEBORAH L BIANUCCI PRESIDENT AND CEO 5685 449076 7672 606094 181 14314 413 32588 240 237 14191 1102309 0 0 ED MARCHESELLI MANAGING DIRECTOR 3915 309258 2699 213186 54 4239 413 32588 445 35145 7526 594416 0 0 ISIO NELSON MANAGING DIRECTOR 4359 344367 1735 137041 35 2745 353 27896 378 29823 6860 541872 0 0 ANN R BARCROFT CHIEF ADMINISTRATIVE OFFICER 3199 252730 2458 194185 40 3172 413 32588 414 32683 6524 515358 0 0 JULIE FABER CHIEF FINANCIAL OFFICER (THRU 9/24) 3381 267090 1663 131403 40 3172 413 32588 120 9487 5617 443740 0 0 HOLLY J HUGHES MANAGING DIRECTOR 3369 266088 1268 100147 196 15485 413 32588 286 22625 5532 436933 142 11250 RYAN MALAYTER DIRECTOR, TECHNOLOGY 2490 182170 393 31046 33 17149 303 23906 390 30774 3609 285045 0 0 FREDERIC WAXMAN MARKETING DIRECTOR, STRAT PROG 1908 137671 288 22751 28 15331 232 18299 366 28934 2822 222986 0 0 PART I, LINE 1A FIRST-CLASS OR CHARTER TRAVEL THE CHIEF EXECUTIVE OFFICER MAY PURCHASE AND BE REIMBURSED FOR FIRST CLASS AIR TRAVEL FOR BUSINESS TRAVEL ON FLIGHTS OF 2 HOURS OR MORE IN DURATION. BOARD OF DIRECTOR MEMBERS -- FIRST-CLASS TRAVEL OR COMPANION TRAVEL -- WILL REIMBURSE FIRST CLASS AIRFARE TO AND FROM BOARD MEETINGS FOR EACH MEMBER. SEVEN BOARD MEMBERS LISTED IN PART VII RECEIVED FIRST CLASS TRAVEL BENEFITS FOR CALENDAR YEAR ENDING 12/31/23. PART I, LINE 1A: TRAVEL FOR COMPANIONS BAI WILL REIMBURSE THE COST FOR TWO ROUND TRIP COACH CLASS TICKETS FOR THE BOARD MEMBER AND SPOUSE, PROVIDED THAT THE TOTAL COST OF THE TWO COACH TICKETS DOES NOT EXCEED THE COST OF ONE ROUND TRIP FIRST CLASS TICKET. BAI ISSUES A 1099 TO EACH BOARD MEMBER WHERE BAI REIMBURSES MORE THAN $599 IN A CALENDAR YEAR FOR A SPOUSE'S EXPENSES. HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES BAI PAYS FOR THE CHIEF EXECUTIVE OFFICER'S MEMBERSHIP AT A BUSINESS SOCIAL CLUB, WITH THE PRIMARY PURPOSE BEING BUSINESS MEETINGS. PART I, LINE 4B SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN: BANK ADMINISTRATION INSTITUTE HAS A 457(F) SUPPLEMENTAL NON-QUALIFIED RETIREMENT PLAN. HOLLY HUGHES PARTICIPATES IN THE 457(F) PLAN. A PAYMENT WAS MADE TO HOLLY HUGHES IN THE AMOUNT OF $11,392 FOR CALENDAR YEAR ENDING 12/31/23. PART I, LINE 5 COMPENSATION CONTINGENT ON ITS REVENUE - ORGANIZATION THE ORGANIZATION AND ITS RELATED ORGANIZATION, PROSIGHT FINANCIAL ASSOCIATION, OFFER ALL NON-SALES EMPLOYEES AN OPPORTUNITY TO EARN VARIABLE INCENTIVE COMPENSATION. EACH FISCAL YEAR GOALS ARE ESTABLISHED FOR THE ORGANIZATION, GROUPS AND INDIVIDUALS THROUGH STRATEGIC AND PERFORMANCE PLANNING. INCENTIVE AWARDS ARE CALCULATED AT THE CLOSE OF EACH FISCAL YEAR BASED ON THE ACHIEVEMENT OF APPROVED GOALS. PART I, LINE 6 COMPENSATION CONTINGENT ON THE NET EARNINGS - ORGANIZATION THE ORGANIZATION AND ITS RELATED ORGANIZATION, PROSIGHT FINANCIAL ASSOCIATION, OFFER ALL NON-SALES EMPLOYEES AN OPPORTUNITY TO EARN VARIABLE INCENTIVE COMPENSATION. EACH FISCAL YEAR GOALS ARE ESTABLISHED FOR THE ORGANIZATION, GROUPS AND INDIVIDUALS THROUGH STRATEGIC AND PERFORMANCE PLANNING. INCENTIVE AWARDS ARE CALCULATED AT THE CLOSE OF EACH FISCAL YEAR BASED ON THE ACHIEVEMENT OF APPROVED GOALS. PETTY CASH 2024-09-30 191 FMV 362026204 PROSIGHT FINANCIAL ASSOCIATION 222 W ADAMS STREET SUITE 230 CHICAGO IL 60606 501(C)(6) CASH - OPERATING ACCOUNT - CHASE 2024-09-30 14747286 FMV 362026204 PROSIGHT FINANCIAL ASSOCIATION 222 W ADAMS STREET SUITE 230 CHICAGO IL 60606 501(C)(6) ACCOUNTS RECEIVABLE - OTHER 2024-09-30 340000 FMV 362026204 PROSIGHT FINANCIAL ASSOCIATION 222 W ADAMS STREET SUITE 230 CHICAGO IL 60606 501(C)(6) PREPAID EXPENSES 2024-09-30 444383 FMV 362026204 PROSIGHT FINANCIAL ASSOCIATION 222 W ADAMS STREET SUITE 230 CHICAGO IL 60606 501(C)(6) ROU ASSET - CHICAGO 2024-09-30 7927720 FMV 362026204 PROSIGHT FINANCIAL ASSOCIATION 222 W ADAMS STREET SUITE 230 CHICAGO IL 60606 501(C)(6) FIXED ASSETS, NET OF ACCUMULATED DEPRECIATION 2024-09-30 763533 FMV 362026204 PROSIGHT FINANCIAL ASSOCIATION 222 W ADAMS STREET SUITE 230 CHICAGO IL 60606 501(C)(6) DEFERRED EXPENSE - PAYROLL TAX 2024-09-30 74546 FMV 362026204 PROSIGHT FINANCIAL ASSOCIATION 222 W ADAMS STREET SUITE 230 CHICAGO IL 60606 501(C)(6) ACCOUNTS PAYABLE 2024-09-30 -23436 FMV 362026204 PROSIGHT FINANCIAL ASSOCIATION 222 W ADAMS STREET SUITE 230 CHICAGO IL 60606 501(C)(6) ACCRUED ANNUAL INCENTIVES 2024-09-30 -2650655 FMV 362026204 PROSIGHT FINANCIAL ASSOCIATION 222 W ADAMS STREET SUITE 230 CHICAGO IL 60606 501(C)(6) ACCRUED PAYROLL & VACATION 2024-09-30 -257446 FMV 362026204 PROSIGHT FINANCIAL ASSOCIATION 222 W ADAMS STREET SUITE 230 CHICAGO IL 60606 501(C)(6) ACCRUED QUALIFIED CONTRIBUTION 2024-09-30 -452528 FMV 362026204 PROSIGHT FINANCIAL ASSOCIATION 222 W ADAMS STREET SUITE 230 CHICAGO IL 60606 501(C)(6) TAXES PAYABLE 2024-09-30 -13237 FMV 362026204 PROSIGHT FINANCIAL ASSOCIATION 222 W ADAMS STREET SUITE 230 CHICAGO IL 60606 501(C)(6) CUSTOMER CREDIT DUE 2024-09-30 -10000 FMV 362026204 PROSIGHT FINANCIAL ASSOCIATION 222 W ADAMS STREET SUITE 230 CHICAGO IL 60606 501(C)(6) ACCRUED EXPENSE 2024-09-30 -92280 FMV 362026204 PROSIGHT FINANCIAL ASSOCIATION 222 W ADAMS STREET SUITE 230 CHICAGO IL 60606 501(C)(6) LEASE LIABILITY-LT-CHICAGO 2024-09-30 -8633638 FMV 362026204 PROSIGHT FINANCIAL ASSOCIATION 222 W ADAMS STREET SUITE 230 CHICAGO IL 60606 501(C)(6) 0 0 0 0 FORM 990, SCHEDULE N, PART II: AT THE COMPLETION OF THE BUSINESS COMBINATION OF BAI CENTER AND THE RISK MANAGEMENT ASSOCIATION, MANAGEMENT REVIEWED PRIOR TRANSACTIONS BETWEEN BAI CENTER AND BAI. THE TRANSACTIONS IMPACTED THE FOLLOWING AREAS OF THE BALANCE SHEET REPORTED ON THE 990: CASH, ACCOUNTS RECEIVABLE, PREPAID EXPENSES, ROU ASSET, FIXED ASSETS, DEFERRED EXPENSES, ACCRUALS AND PAYABLES, AND LEASE LIABILITY. BASED UPON THAT REVIEW MANAGEMENT REVERSED TRANSACTIONS BETWEEN THE ENTITIES. CORRECTIONS FOR PRIOR PERIODS WERE COMPLETED EFFECTIVE SEPTEMBER 30, 2024. FORM 990, PART V, LINE 2A: BANK ADMINISTRATION INSTITUTE (BAI) IS THE COMMON PAYMASTER FOR PROSIGHT FINANCIAL ASSOCIATION (PROSIGHT). BAI IS LISTING NO EMPLOYEES ON PART V, LINE 2A AS THE EMPLOYEES ARE ALL INCLUDED UNDER PROSIGHT. FORM 990, PART VI, SECTION A, LINE 1A DELEGATION OF AUTHORITY EXECUTIVE COMMITTEE THERE SHALL BE AN EXECUTIVE COMMITTEE OF THE BOARD OF DIRECTORS TO BE COMPOSED OF THE CHAIR OF THE BOARD, VICE-CHAIR, PRESIDENT AND CHIEF EXECUTIVE OFFICER, SECRETARY, TREASURER AND THE PAST CHAIR OF THE BOARD. THE EXECUTIVE COMMITTEE SHALL SERVE AS A NOMINATING COMMITTEE TO IDENTIFY AND NOMINATE CANDIDATES FOR UPCOMING VACANCIES. THE EXECUTIVE COMMITTEE SHALL BE AUTHORIZED AND EMPOWERED, IN MATTERS PERTAINING TO SUCH SUBJECTS AND DUTIES ENJOINED UPON THE BOARD OF DIRECTORS WHICH REQUIRE DECISION AS TO POLICY AND PROCEDURE IN THE INTERIM BETWEEN MEETINGS OF THE BOARD OF DIRECTORS, TO ACT AND MAKE SUCH DECISIONS ON BEHALF OF THE BOARD OF DIRECTORS EXCEPT AS OTHERWISE PROVIDED BY LAW. ALL ACTIONS OF THE EXECUTIVE COMMITTEE SHALL BE REPORTED TO THE BOARD OF DIRECTORS. THE EXECUTIVE COMMITTEE MAY, FROM TIME TO TIME, MAKE ITS OWN RULES GOVERNING ITS CONDUCT OF BAI BUSINESS EXCEPT WHERE OTHERWISE PROVIDED HEREIN. THE EXECUTIVE COMMITTEE WILL APPROVE THE BOARDS OF DIRECTORS OF BAI'S SUBSIDIARIES AND AFFILIATES. FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE UPDATED TO CHANGE THE TOTAL NUMBER OF BOARD MEMBERS TO A MAXIMUM OF 18 AND THE NUMBER OF OFFICERS TO 7. FORM 990, PART VI, SECTION B, LINE 11B FORM 990 REVIEW PROCESS THE FORM 990 IS PREPARED AND REVIEWED BY AN EXTERNAL ACCOUNTING FIRM, GRANT THORNTON ADVISORS LLC IN CONJUNCTION WITH MANAGEMENT. ONCE FINALIZED, THE FORM 990 IS REVIEWED AND APPROVED BY BANK ADMINISTRATION INSTITUTE'S CONTROLLER, CHIEF FINANCIAL OFFICER AND CHIEF ADMINISTRATIVE OFFICER, AND EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 12C CONFLICT OF INTEREST POLICY MONITORING & ENFORCEMENT BAI'S CONFLICT OF INTEREST POLICY COVERS ALL BOARD OF DIRECTORS AND EMPLOYEES. FOR BOARD OF DIRECTORS, AN INTERESTED PERSON MUST DISCLOSE THE EXISTENCE OF A FINANCIAL INTEREST, AS WELL AS ALL MATERIAL FACTS TO THE DIRECTORS AND COMMITEE MEMBERS WITH GOVERNING BOARD DELEGATED POWERS, CONSIDERING THE PROPOSED TRANSACTION OR ARRANGEMENT. THE REMAINING BOARD OR COMMITTEE MEMBERS SHALL DECIDE IF A CONFLICT OF INTEREST EXISTS. FOR EMPLOYEES, AN INTERESTED PERSON MUST NOTIFY HUMAN RESOURCES AS SOON AS SUCH POTENTIAL CONFLICT ARISES. FOR BOARD OF DIRECTORS, AFTER DISCLOSURE OF THE FINANCIAL INTEREST AND ALL MATERIAL FACTS, AND AFTER ANY DISCUSSION WITH THE INTERESTED PERSON, HE/SHE SHALL LEAVE THE GOVERNING BOARD OR COMMITTEE MEETING WHILE THE DETERMINATION OF A CONFLICT OF INTEREST IS DISCUSSED AND VOTED UPON. FOR EMPLOYEES, HUMAN RESOURCES (HR) REVIEWS THE CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 PROCESS FOR DETERMINING COMPENSATION EACH YEAR, BAI AND PROSIGHT FINANCIAL ASSOCIATION, THROUGH AN OVERLAPPING HR COMMITEE, ENGAGE AN OUTSIDE HR CONSULTANT TO BENCHMARK EXECUTIVE COMPENSATION USING DATA FROM A NUMBER OF PUBLISHED SALARY SURVEYS. THE OVERLAPPING HR COMMITTEE OF THE BOARD OF DIRECTORS CONSIDERS THIS BENCHMARKING DATA, THE COMPENSATION REPORTED ON FORM 990 FOR CHIEF EXECUTIVES OF COMPARABLE FINANCIAL SERVICES TRADE ORGANIZATIONS, THE ECONOMIC ENVIRONMENT AND BAI/BAIC BUSINESS CONDITIONS WHEN MAKING COMPENSATION DECISIONS. THE HR COMMITTEE RECOMMENDS CEO COMPENSATION TO THE EXECUTIVE COMMITTEE FOR THEIR APPROVAL. THE COMPENSATION APPROVAL PROCESS FOR THE CEO IS CONTEMPORANEOUSLY DOCUMENTED IN THE MINUTES OF THE BOARD MEETINGS. THE HR COMMITTEE ALSO RECEIVES AN ANNUAL DISCLOSURE OF TOTAL COMPENSATION FOR ALL OFFICERS AND LEADERSHIP TEAM MEMBERS AND APPROVES THE PROCESS FOR DETERMINING THEIR COMPENSATION WHICH IS CONTEMPORANEOUSLY DOCUMENTED IN THE MINUTES OF THE HR COMMITTEE. FORM 990, PART VI, SECTION C, LINE 19 HOW DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC BAI MAKES THESE DOCUMENTS AVAILABLE TO THE EXTENT REQUIRED BY LAW. FORM 990, PART IX, LINE 11G PROFESSIONAL SERVICES: PROGRAM SERVICE EXPENSES 25,030. TOTAL EXPENSES 25,030. FORM 990, PART XI, LINE 9: INTERCOMPANY RECEIVABLE 1,572,915. PENSION ADJUSTMENT 17,318. FORM 990, PART XI, LINE 8 AT THE COMPLETION OF THE BUSINESS COMBINATION OF BAI CENTER AND THE RISK MANAGEMENT ASSOCIATION, MANAGEMENT REVIEWED PRIOR TRANSACTIONS BETWEEN BAI CENTER AND BAI. THE TRANSACTIONS IMPACTED THE FOLLOWING AREAS OF THE BALANCE SHEET REPORTED ON THE 990: CASH, ACCOUNTS RECEIVABLE, PREPAID EXPENSES, ROU ASSET, FIXED ASSETS, DEFERRED EXPENSES, ACCRUALS AND PAYABLES, AND LEASE LIABILITY. BASED UPON THAT REVIEW MANAGEMENT REVERSED TRANSACTIONS BETWEEN THE ENTITIES. CORRECTIONS FOR PRIOR PERIODS WERE COMPLETED EFFECTIVE SEPTEMBER 30, 2024. PROSIGHT FINANCIAL ASSOCIATION 222 W ADAMS STREET STE 2300 CHICAGO IL 60606 362026204 EDUCATION IL 501(C)(6) N/A 0 RISK MANAGEMENT ASSOCIATION FOUNDATION 222 W ADAMS STREET STE 2300 CHICAGO IL 60606 473078149 EDUCATION IL 501(C)(3) PROSIGHT FINANCIAL ASSOCIATION 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0