2020-07-15T11:47:18-05:00 2019-06-30 131639826 EISNERAMPER LLP 130 NORTH 18TH STREET SUITE 3000 PHILADELPHIA PA 191032757 990 2018-07-01 230724010 INSURANCE SOCIETY OF PHILADELPHIA INSU 2158678102 1120 ROUTE 73 NO 200 MT LAUREL NJ 08054 STEVEN SKOWRONSKI TREASURER 2158678102 2020-07-15 1 HELEN M MARTIN P01330889 2158818800 64.238.150.4 2020-07-15 10:42:46 ED P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 0EDE4F5BE59FB99924CAAEE7408372872BC47088 2018 2021-01-29 14:40:06Z STEVEN SKOWRONSKI 1120 ROUTE 73 NO 200 MT LAUREL NJ 08054 673552 0 X WWW.INSURANCESOCIETY.ORG X 1901 PA TO EDUCATE AND PROMOTE PROFESSIONALISM, TALENT DEVELOPMENT, SCHOLARSHIP AND NETWORKING IN THE INSURANCE, LEGAL, AND FINANCIAL SERVICES INDUSTRIES. 29 29 0 0 0 0 332357 409919 87114 84734 25300 34794 -35284 -56990 409487 472457 30000 65000 0 0 0 0 0 0 47918 300499 264421 330499 329421 78988 143036 1595011 1793218 156333 211504 1438678 1581714 TO EDUCATE AND PROMOTE PROFESSIONALISM, TALENT DEVELOPMENT, SCHOLARSHIP AND NETWORKING IN THE INSURANCE, LEGAL AND FINANCIAL SERVICES INDUSTRIES. 0 0 65000 65000 84734 FURTHER THE INSURANCE SOCIETY'S MISSION TO EDUCATE BY PROVIDING SCHOLARSHIPS TO STUDENTS ENGAGED IN THE STUDY OF RISK MANAGEMENT, INSURANCE OR INSURANCE RELATED INDUSTRIES. 65000 1 1 0 0 0 0 0 0 0 0 0 1 0 0 1 1 1 0 1 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 5 0 1 0 0 0 0 0 0 1 1 0 0 0 0 0 0 X 29 29 0 1 0 0 0 0 0 1 1 0 0 0 1 1 0 0 1 0 0 0 PA X JUSTIN MARTIN 8574374773 1120 ROUTE 73-SUITE 200 MT LAUREL NJ 08054 X EDWARD HANNA EXECUTIVE VICE-CHAIR 0.50 X X 0 0 0 ROBERT IVEY BOARD MEMBER 0.50 X 0 0 0 RICHARD HALL BOARD MEMBER 0.50 X 0 0 0 BRIAN GRIMM BOARD MEMBER 0.50 X 0 0 0 ROGER C FELL EXECUTIVE CHAIR 0.50 X X 0 0 0 JEFFERY DUNN BOARD MEMBER 0.50 X 0 0 0 ANITA DEVAN BOARD MEMBER 0.50 X 0 0 0 JEN CORRY BOARD MEMBER 0.50 X 0 0 0 TIM CONRAD BOARD MEMBER 0.50 X 0 0 0 BRIAN CLOUSE BOARD MEMBER 0.50 X 0 0 0 BUTLER BUCHANAN III BOARD MEMBER 0.50 X 0 0 0 DAVE BENNINK BOARD MEMBER 0.50 X 0 0 0 FREDERICK ANTON BOARD MEMBER 0.50 X 0 0 0 STORM WILKINS BOARD MEMBER 0.50 X 0 0 0 STEVEN SKOWRONSKI EXECUTIVE TREASURER 0.50 X X 0 0 0 DIANNE SALTER EXECUTIVE CHAIR 0.50 X X 0 0 0 ROBERT M POLISENO EXECUTIVE SECRETARY 0.50 X X 0 0 0 P DREW JONES BOARD MEMBER 0.50 X 0 0 0 THOMAS J KELLEY BOARD MEMBER 0.50 X 0 0 0 RONALD T KUEHN BOARD MEMBER 0.50 X 0 0 0 JOSEPH MAHER BOARD MEMBER 0.50 X 0 0 0 THOMAS J TRULLINGER BOARD MEMBER 0.50 X 0 0 0 JOE ROBINSON BOARD MEMBER 0.50 X 0 0 0 JAMES DECKER BOARD MEMBER 0.50 X 0 0 0 BEN EVANS BOARD MEMBER 0.50 X 0 0 0 DENISE HUNTER BOARD MEMBER 0.50 X 0 0 0 LOU PAGLIONE BOARD MEMBER 0.50 X 0 0 0 MIKE PETTINELLI BOARD MEMBER 0.50 X 0 0 0 JULIANNE SHILLINGTON BOARD MEMBER 0.50 X 0 0 0 0 0 0 0 0 0 0 ASSOCIATION HEADQUARTERS INC 1120 ROUTE 73 SUITE 200 MT LAUREL NJ 08054 OPERATION AND MANAGEMENT SERVICES 215000 1 53324 356595 409919 I-DAY MANAGEMENT FEE 541610 60000 60000 NEXT GEN PROGRAM REVEN 541900 24734 24734 84734 34794 34794 144105 356595 201095 -56990 -56990 472457 84734 0 -22196 65000 65000 217999 179740 38259 12500 12500 5769 5769 5795 5795 2081 2081 488 488 2880 2880 4802 4802 NEXT GEN PROGRAM EXPENS 9659 9659 DEFERRED COMPENSATION T 2448 2448 329421 65000 216503 47918 195725 369318 6438 8839 9973 60000 69944 16791 717000 899000 581771 427990 14160 11280 1595011 1793218 27573 101261 52372 60788 76388 49455 156333 211504 X 1438678 1581714 1438678 1581714 1595011 1793218 143036 0 X 0 1 X 1 0 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 INTEREST RECEIVABLE 7990 C CAPITAL ONE BANK CD 2.25% 125000 C CAPITAL ONE BANK CD 2.15% 100000 C GOLDMAN SACHS BANK CD 2.3% 100000 C WELLS FARGO BANK CD 2.95% 95000 C 427990 DEFERRED COMPENSATION 46555 DUE TO OTHER ORGANIZATION 2900 49455 X 673552 201095 201095 472457 0 472457 530516 201095 201095 329421 0 329421 PART X, LINE 2: THE INTERNAL REVENUE SERVICE ("IRS") HAS CLASSIFIED THE SOCIETY AS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE ("CODE"). ACCORDINGLY, ONLY ITS UNRELATED BUSINESS INCOME, OF WHICH THERE WAS NONE IN FISCAL YEARS 2019 OR 2018, IS TAXED. THE IRS HAS NOT CLASSIFIED THE SOCIETY AS A PRIVATE FOUNDATION. U.S. GAAP REQUIRES MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN AND RECOGNIZE A TAX LIABILITY, IF THE SOCIETY HAS TAKEN AN UNCERTAIN TAX POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY A GOVERNMENT AUTHORITY. MANAGEMENT HAS ANALYZED THE TAX POSITIONS TAKEN BY THE SOCIETY AND HAS CONCLUDED THAT AS OF JUNE 30, 2019 AND 2018, THERE ARE NO UNCERTAIN POSITIONS TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY OR DISCLOSURE IN THE FINANCIAL STATEMENTS. THE SOCIETY RECOGNIZES ACCRUED INTEREST AND PENALTIES ASSOCIATED WITH UNCERTAIN TAX POSITIONS, IF ANY. THERE WERE NO INCOME TAX RELATED INTEREST AND PENALTIES RECORDED FOR EITHER OF THE YEARS ENDED JUNE 30, 2019 OR 2018. PART XI, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSES 201,095. PART XII, LINE 2D - OTHER ADJUSTMENTS: DIRECT FUNDRAISING EXPENSES 201,095. 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 SCHEDULE E, PART I, LINE 3 WHILE NOT PUBLICIZED ON OUR WEBSITE, THE INSURANCE SOCIETY OF PHILADELPHIA HAS MAINTAINED A NON-DISCRIMINATORY POLICY AND HAVE PUBLICIZED IT IN THE PAST. OUR WEBSITE IS STILL IN THE PROCESS OF BEING UPDATED AND ENHANCED AND WILL CONTAIN AN UPDATED STATEMENT WHEN COMPLETED. SCHEDULE E, PART I, LINE 4 ALL COURSES, PROFESSIONAL DEVELOPMENT AND CONTINUING EDUCATION ARE OPEN TO THE PUBLIC GALA 500700 356595 144105 154211 31779 15105 500700 356595 144105 154211 31779 15105 201095 -56990 1 SCHOLARSHIPS 8 65000 PART I, LINE 2: GRANT FUND DISBURSEMENTS PAID TO INDIVIDUALS ARE ALSO MADE PAYABLE TO AND REQUIRE ENDORSEMENTS BY THE EDUCATIONAL INSTITUTION, THEREFORE ENSURING THAT THE FUNDS ARE EXCLUSIVELY FOR PAYMENT OF EDUCATIONAL EXPENSES AT THE SCHOOL INDICATED DURING THE GRANT PROCESS. FORM 990, PART VI, SECTION A, LINE 3 ALL OPERATIONS AND MANAGEMENT SERVICES ARE PROVIDED BY ASSOCIATION HEADQUARTERS, INC. THE ORGANIZATION NO LONGER HAS EMPLOYEES. FORM 990, PART VI, SECTION B, LINE 11B THE FINANCE COMMITTEE REVIEWS THE FORM 990 BEFORE IT IS FILED AND SUBSEQUENTLY PROVIDES COPIES TO THE EXECUTIVE COMMITTEE AND BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 12 IN ADDITION TO ITS CONFLICT OF INTEREST POLICY, ISOP ALSO HAS AN EXISTING ANTITRUST STATEMENT AS FOLLOWS: IT IS THE POLICY OF THE INSURANCE SOCIETY OF PHILADELPHIA, (ISOP), AND IT IS THE RESPONSIBILITY OF EVERY ISOP MEMBER COMPANY, TO COMPLY IN ALL RESPECTS WITH FEDERAL AND STATE ANTITRUST LAWS. IN THIS REGARD, WE WILL NOT ENGAGE IN ANY ACTIVITY OR DISCUSSION FOR THE PURPOSE OF BRINGING ABOUT ANY UNDERSTANDING OR AGREEMENT AMONG THE MEMBERSHIP TO: RAISE, LOWER OR STABILIZE PRICES; REGULATE PRODUCTION; ALLOCATE MARKETS; ENCOURAGE BOYCOTTS; FOSTER ON FAIR TRADE PRACTICES; ASSIST IN ANY MONOPOLIZATION EFFORTS; OR IN ANY WAY VIOLATE FEDERAL OR STATE ANTITRUST LAWS. THIS PROHIBITION INCLUDES THE EXCHANGE OF INFORMATION CONCERNING INDIVIDUALIZED PRICES, RATES, COVERAGES, MARKET PRACTICES, CLAIMS SETTLEMENT PRACTICES, OR ANY OTHER COMPETITIVE ASPECT OF AN INDIVIDUAL COMPANY'S OR MEMBER'S OPERATION. FORM 990, PART VI, SECTION C, LINE 19 DOCUMENTS ARE AVAILABLE FOR INSPECTION AT THE OFFICE OF THE ORGANIZATION.