2020-11-02T13:38:03-06:00 2019-12-31 271728945 PKF O'CONNOR DAVIES LLP 665 FIFTH AVENUE NEW YORK NY 10022 990 2019-01-01 131582190 PUBLIC RELATIONS SOCIETY OF AMERICA INC PUB 2124601400 120 WALL STREET 21ST FLOOR NEW YORK NY 10005 PHILIP T BONAVENTURA INTERIM CEO/CHIEF FINANCIAL OFFICER 2124601400 2020-11-02 1 GARRETT M HIGGINS P00543209 2122862600 2020-10-28 47.18.172.68 2020-11-02 12:43:52 ES P DA39A3EE5E6B4B0D3255BFEF95601890AFD80709 5DA95DB661BFBF1E1CC10393D0405B5901069AC8 2019 2021-04-22 16:20:28Z PHILIP T BONAVENTURA 120 WALL STREET 21ST FLOOR NEW YORK NY 10005 16097601 0 1255 X WWW.PRSA.ORG X 1948 NY THE PUBLIC RELATIONS SOCIETY OF AMERICA, INC. NATIONAL HEADQUARTERS (THE "SOCIETY") IS AN INDIVIDUAL MEMBER SOCIETY COMPRISED OF PUBLIC RELATIONS PRACTITIONERS AND STUDENTS ORGANIZED TO IMPROVE THE PROFESSION AND PRACTICE OF PUBLIC RELATIONS. 17 17 50 400 383562 2860 0 0 12272396 12528801 998044 239721 530435 478339 13800875 13246861 58292 68928 0 0 5433719 5926030 0 0 0 7531095 7667144 13023106 13662102 777769 -415241 8468993 8619694 2469667 3927442 5999326 4692252 X THE PUBLIC RELATIONS SOCIETY OF AMERICA (PRSA) IS THE NATION'S LARGEST COMMUNITY OF PUBLIC RELATIONS AND COMMUNICATIONS PROFESSIONALS. PRSA PROVIDES TRAINING, SETS STANDARDS OF EXCELLENCE AND UPHOLDS PRINCIPLES OF ETHICS FOR THE GLOBAL PUBLIC RELATIONS PROFESSION. AS A LEADING VOICE IN THE PR INDUSTRY, THE SOCIETY ALSO ADVOCATES FOR GREATER UNDERSTANDING AND ADOPTION OF PUBLIC RELATIONS SERVICES. 0 0 PROFESSIONAL DEVELOPMENT, INCLUDING INTERNATIONAL CONFERENCE - PRSA PROVIDES AN EXCEPTIONAL MEMBER EXPERIENCE THAT EDUCATES, INSPIRES, GUIDES AND GALVANIZES A DIVERSE COMMUNITY OF ETHICAL, STRATEGIC COMMUNICATIONS PROFESSIONALS. THE MISSION OF PRSA'S PROFESSIONAL DEVELOPMENT DEPARTMENT IS TO MAKE COMMUNICATIONS PROFESSIONALS BETTER, SMARTER AND MORE CONNECTED THROUGH ALL THE STAGES OF THEIR CAREER. IN 2019, THE PROFESSIONAL DEVELOPMENT DEPARTMENT HOSTED 10 WORKSHOPS, 5 ONLINE CERTIFICATE PROGRAMS, 40+ LIVE WEBINARS, 1PD CONFERENCE AND 4 APR BOOT CAMPS AROUND THE NATION. PRSA'S INTERNATIONAL CONFERENCE ENJOYS THE REPUTATION AS THE PREEMINENT CONFERENCE FOR THE PROFESSION AS WELL AS THE ANNUAL MEETING OF ALL PRSA COMMUNITIES. IT IS AN INTENSIVE LEARNING OPPORTUNITY WITH INDUSTRY EXPERTS AND THOUGHT LEADERS AND PEER-TO PEER NETWORKING. IT OFFERS PRACTICAL INSIGHT FOR PUBLIC RELATIONS PROFESSIONAL OF ALL CAREER LEVELS, SECTORS, WORK ENVIRONMENTS AND INDUSTRIES. DEMONSTRATING VALUE WITH ACTIONABLE BEST PRACTICES IS THE FOCUS OF THIS ANNUAL EVENT. MORE THAN 3,000 PEOPLE BENEFITED FROM BOTH PROFESSIONAL DEVELOPMENT AND INTERNATIONAL CONFERENCE PROGRAM. SECTIONS/SECTIONS SUPPORT-PRSA OFFERS MEMBERS A VARIETY OF WAYS TO NETWORK WITH INDUSTRY PROFESSIONALS, BOTH ONLINE AND IN-PERSON. A PRSA SECTION MEMBERSHIP IS FOR THOSE PROFESSIONALS LOOKING TO CONNECT WITH OTHER PUBLIC RELATIONS AND COMMUNICATION PEERS IN THEIR INDUSTRY VERTICAL. PRSA HAS 14 PROFESSIONAL INTEREST SECTIONS (ASSOCIATION/NONPROFIT, CORPORATE COMMUNICATIONS, COUNSELORS ACADEMY, COUNSELORS TO HIGHER EDUCATION, EDUCATORS ACADEMY, EMPLOYEE COMMUNICATIONS, ENTERTAINMENT AND SPORTS, FINANCIAL COMMUNICATIONS, HEALTH ACADEMY, INDEPENDENT PRACTITIONERS ALLIANCE, NEW PROFESSIONALS, PUBLIC AFFAIRS AND GOVERNMENT, TECHNOLOGY AND TRAVEL AND TOURISM). MEMBERS OF THESE SECTIONS ARE ABLE TO CONNECT WITH INDUSTRY PEERS WHO HAVE SIMILAR NEEDS AND SHARE THE SAME CHALLENGES. THESE GROUPS SHARE IMPORTANT AND RELEVANT INFORMATION ABOUT THEIR AREA OF INTEREST THROUGH A VARIETY OF CHANNELS THROUGHOUT THE YEAR. MORE THAN 10,000 PEOPLE BENEFITED FROM THIS PROGRAM. MEMBERSHIP-PRSA IS A COMMUNITY OF MORE THAN 21,000 PUBLIC RELATIONS AND COMMUNICATIONS PROFESSIONALS ACROSS THE UNITED STATES, FROM RECENT COLLEGE GRADUATES TO THE LEADERS OF THE WORLD'S LARGEST MULTINATIONAL FIRMS. OUR MEMBERS REPRESENT NEARLY EVERY PRACTICE AREA AND PROFESSIONAL AND ACADEMIC SETTING WITHIN THE PUBLIC RELATIONS FIELD. IN ADDITION, THERE ARE MORE THAN 10,000 STUDENTS WHO ARE MEMBERS OF THE PUBLIC RELATIONS STUDENT SOCIETY OF AMERICA (PRSSA) AT COLLEGES AND UNIVERSITIES HERE AND ABROAD. MORE THAN 31,000 PEOPLE BENEFITED FROM THIS PROGRAM. 0 0 0 1 0 0 0 0 0 1 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 69 0 50 1 1 1 0 0 0 0 0 0 0 X 17 17 0 0 1 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X PHILIP T BONAVENTURA 2124601400 120 WALL STREET 21ST FLOOR NEW YORK NY 10005 JOSEPH P TRUNCALE CHIEF EXECUTIVE OFFICER 40.00 X 416046 0 64736 PHILIP T BONAVENTURA INTERIM CEO/CHIEF FINANCIAL OFFICER 40.00 X 388323 0 53288 JAY STARR VP, MEMBER SERVICES 40.00 X 187168 0 49316 JOHN D ROBINSON VP, CORPORATE DEVELOPMENT 40.00 X 169239 0 65419 KARLA VOTH VP, SPECIAL EVENTS & PROGR. 40.00 X 160854 0 37020 ALEX ORTIZ VP, INFORMATION TECHNOLOGY 40.00 X 142984 0 48881 JENEEN GARCIA EXECUTIVE DIRECTOR, PRSSA 40.00 X 153313 0 35052 DEBRA D PETERSON CHAIR 2.00 X X 0 0 0 T GARLAND STANSELL CHAIR-ELECT 2.00 X X 0 0 0 RONELE M DOTSON TREASURER 2.00 X X 0 0 0 JO ANN S LESAGE NELSON SECRETARY 2.00 X X 0 0 0 ANTHONY W D'ANGELO IMMEDIATE PAST CHAIR 2.00 X X 0 0 0 JOSEPH ABREU DIRECTOR 2.00 X 0 0 0 RICK BATYKO DIRECTOR 2.00 X 0 0 0 ERROL COCKFIELD DIRECTOR 2.00 X 0 0 0 AMY T COWARD DIRECTOR 2.00 X 0 0 0 MICHELLE EGAN DIRECTOR 2.00 X 0 0 0 JANE N LAW DIRECTOR 2.00 X 0 0 0 MICHELLE A OLSON DIRECTOR 2.00 X 0 0 0 BOB PRITCHARD DIRECTOR 2.00 X 0 0 0 SCOTT WESLEY THORNBUG DIRECTOR 2.00 X 0 0 0 ANA TORO DIRECTOR 2.00 X 0 0 0 SAMANTHA VILLEGAS DIRECTOR 2.00 X 0 0 0 KEVIN WAETKE DIRECTOR 2.00 X 0 0 0 1617927 0 353712 16 0 1 0 MARRIOTT BUSINESS SERVICES PO BOX 403003 ATLANTA GA 30384 CONVENTION SERVICES 986030 DENBO MULTIMEDIA INC 684 FIFTH AVENUE BROOKLYN NY 11215 MULTIMEDIA SERVICES 444457 INNOV8 EVENTS AGENCY 3000 NORTHFIELD PL SUITE 300 ROSWELL GA 30076 MULTIMEDIA SERVICES 248389 LOEWS PHILADELPHIA HOTEL 1200 MARKET STREET PHILADELPHIA PA 19017 CONVENTION SERVICES 167583 RUSSELL REYNOLDS ASSOCIATES INC 277 PARK AVENUE STE 3800 NEW YORK NY 10172 EXECUTIVE SEARCH CONSULTANTS 145393 12 MEMBERSHIP DUES & FEES 900099 5194685 5194685 PROFESSIONAL DEVELOP. 900099 3236857 3236857 SECTIONS SUPPORT 900099 1939099 1939099 STUDENT SOCIETY 900099 832902 832902 AWARDS PROGRAMS 900099 593390 593390 731868 731868 12528801 161453 161453 428 428 86335 0 86335 86335 86335 2929008 2850740 78268 78268 78268 ADVERTISING 541800 378952 378952 OTHER INCOME 900099 8014 8014 MAILING LIST RENTAL 511140 4610 4610 391576 13246861 12528801 383562 334498 66128 2800 922393 3866654 325897 499587 311499 242991 65045 35570 1491659 682167 909210 186663 918563 637771 1688443 54600 58938 EQUIPMENT RENTAL 653490 DUES & SUBSCRIPTIONS 29823 REPAIRS & MAINTENANCE 7374 UBI TAXES 4837 13662102 815793 307406 1502332 1503567 775546 556708 2028 2028 460568 394451 485637 162558 365568 323079 4174057 5164358 373101 368097 8468993 8619694 879104 679064 1370359 2997984 220204 250394 2469667 3927442 X 5999326 4692252 5999326 4692252 8468993 8619694 X -415241 758917 -1650750 X X 0 1 X 1 0 0 1 0 371450 93487 277963 114187 69071 45116 323079 DEFERRED RENT 250394 250394 X 13970208 758917 758917 13211291 35570 35570 13246861 13626532 0 13626532 35570 35570 13662102 PART X, LINE 2: THE SOCIETY FOLLOWS THE ACCOUNTING GUIDANCE FOR UNCERTAINTY IN INCOME TAXES WHICH PROVIDES A RECOGNITION THRESHOLD AND MEASUREMENT ATTRIBUTE FOR THE FINANCIAL STATEMENT RECOGNITION OF A TAX POSITION TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN. USING THIS GUIDANCE, AN ENTITY MAY RECOGNIZE A TAX BENEFIT FROM AN UNCERTAIN TAX POSITION IN ITS FINANCIAL STATEMENTS ONLY IF IT IS MORE LIKELY-THAN-NOT (I.E. A LIKELIHOOD OF MORE THAN 50%) THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY THE TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. MANAGEMENT HAS DETERMINED THE SOCIETY HAS NO UNCERTAIN TAX POSITIONS AT DECEMBER 31, 2019. TAX YEARS SINCE 2016 REMAIN OPEN TO EXAMINATION. THERE ARE CURRENTLY NO EXAMINATIONS IN PROGRESS. 1 PUBLIC RELATIONS SOCIETY OF AMERICA FDTN INC 120 WALL STREET 21ST FLOOR NEW YORK NY 10005 133556137 501(C)(3) 53028 TO SUPPORT THE FOUNDATION'S ONGOING DIVERSITY AND INCLUSION INITIATIVES 1 0 PART I, LINE 2: ON BEHALF OF THE PUBLIC RELATIONS SOCIETY OF AMERICA FOUNDATION ("PRSA FOUNDATION"), THE ORGANIZATION COLLECTS DONATIONS FROM ITS MEMBERS AT THE TIME OF APPLICATION AND/OR RENEWAL OF PRSA MEMBERSHIP ("DUES CHECKOFF"). IN ORDER TO SUPPORT THE PRSA FOUNDATION WITH A RELIABLE SOURCE OF UNRESTRICTED INCOME, THE BOARD OF DIRECTORS HAS PROVIDED A GUARANTEE TO THE PRSA FOUNDATION THAT THE AMOUNT RECEIVED FROM THE DUES CHECKOFF, PLUS ANY OTHER FUNDS RAISED BY PRSA, SHALL NOT BE LESS THAN $100,000 PER YEAR. THE DIFFERENCE BETWEEN THE CHECK-OFF PROGRAM CONTRIBUTIONS FROM SOCIETY MEMBERS AND THE $100,000 GUARANTEE SHALL BE PAID BY THE SOCIETY TO THE PRSA FOUNDATION. IN ORDER TO RECEIVE THE FUNDRAISING SUPPORT, THE FOLLOWING CRITERIA MUST BE MET: -PRSA FOUNDATION MEASUREMENT AND REPORTING ON AN ANNUAL BASIS AND PRIOR TO THE START OF EACH YEAR, PRSA FOUNDATION WILL SUPPLY THE PRSA BOARD WITH PROGRAMMATIC GOALS AND CLEAR METRICS FOR SUCCESS AS WELL AS TRANSPARENT REPORTING OF HOW THE FOUNDATION TRACKED AGAINST ITS PRIOR YEAR GOALS. REPORTING SHALL TAKE PLACE AT LEAST ANNUALLY AND CONTINUED FUNDING BY PRSA WILL BE CONTINGENT UPON MEETING OR EXCEEDING AGREED UPON GOALS. -PRSA CFO REVIEW OF PRSA FOUNDATION FINANCES PRSA'S CHIEF FINANCIAL OFFICER WILL BE PROVIDED A FULLY TRANSPARENT VIEW OF PRSA FOUNDATION'S PROGRAMMING AND FUNDRAISING PLANS, INCLUDING RELEVANT BUDGETS IN ORDER FOR HIM/HER TO PREPARE A COMPREHENSIVE ANALYSIS FOR THE PRSA BOARD. -FINANCIAL STABILITY AS STIPULATED IN ITS BYLAWS, PRSA FOUNDATION WILL ALWAYS MAINTAIN AT LEAST ONE YEAR'S OPERATING INCOME IN ITS RESERVES. -PRSA PRESENCE ON FOUNDATION BOARD AS LEAD PARTNER, PRSA WILL CONTINUE TO MAINTAIN FOUR SEATS ON THE PRSA FOUNDATION BOARD OF DIRECTORS. IF THE SIZE OF THE PRSA FOUNDATION BOARD SHOULD INCREASE, PRSA SHOULD BE NOTIFIED IN ADVANCE AND THE NUMBER OF PRSA BOARD REPRESENTATIVES SHALL BE INCREASED ACCORDINGLY. -DIVERSITY AND INCLUSION COMMITTEE COORDINATION PRSA FOUNDATION SHALL COORDINATE ITS PROGRAMMING WITH PRSA'S DIVERSITY AND INCLUSION COMMITTEE PROGRAMMING. PRSA FOUNDATION WILL ASSIGN ONE OR MORE BOARD MEMBERS TO CONDUCT A MONTHLY CALL WITH THE CHAIR OF PRSA'S DIVERSITY AND INCLUSION COMMITTEE. -FUNDRAISING PRSA FOUNDATION SHALL COORDINATE ITS FUNDRAISING EFFORTS WITH PRSA IN ORDER TO AVOID DUPLICATION OF EFFORTS AND MINIMIZE CONFUSION WITH DONORS AND VENDORS. -ADMINISTRATIVE MATTERS PRSA FOUNDATION AGREES TO COLLABORATE WITH PRSA IN ANY MATTERS THAT ARE ADMINISTRATIVE IN NATURE AS LONG AS IT DOES NOT CREATE AN UNDUE HARDSHIP ON THE PRSA FOUNDATION. X X X X X 0 0 0 JOSEPH P TRUNCALE CHIEF EXECUTIVE OFFICER 414858 0 0 0 1188 0 37000 0 27736 0 480782 0 0 0 PHILIP T BONAVENTURA INTERIM CEO/CHIEF FINANCIAL OFFICER 387549 0 0 0 774 0 37000 0 16288 0 441611 0 0 0 JAY STARR VP, MEMBER SERVICES 186115 0 0 0 1053 0 25740 0 23576 0 236484 0 0 0 JOHN D ROBINSON VP, CORPORATE DEVELOPMENT 168663 0 0 0 576 0 22798 0 42621 0 234658 0 0 0 KARLA VOTH VP, SPECIAL EVENTS & PROGR. 159544 0 0 0 1310 0 22147 0 14873 0 197874 0 0 0 ALEX ORTIZ VP, INFORMATION TECHNOLOGY 142816 0 0 0 168 0 19758 0 29123 0 191865 0 0 0 JENEEN GARCIA EXECUTIVE DIRECTOR, PRSSA 153031 0 0 0 282 0 19933 0 15119 0 188365 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION AMENDED ITS BYLAWS DURING 2019. SIGNIFICANT CHANGES WERE MADE IN THE FOLLOWING AREAS: -CATEGORIES, RIGHTS AND PRIVILEGES, AND CRITERIA FOR MEMBERSHIP -NOTICE AND WAIVER OF NOTICE REQUIREMENTS FOR MEETINGS -COMPOSITION OF THE BOARD OF DIRECTORS -ROLE OF THE BOARD IN CONNECTION TO OFFICER NOMINATIONS -ROLE OF THE CHIEF EXECUTIVE OFFICER -AUTHORITY AND ROLE OF THE OF THE EXECUTIVE AND AUDIT COMMITTEES IN ADDITION, THE ORGANIZATION AMENDED ITS ARTICLES OF INCORPORATION DURING THE YEAR TO COMPLY WITH N-PCL REQUIREMENTS AND NEW YORK'S ANTITRUST LAWS. FORM 990, PART VI, SECTION A, LINE 6 THERE ARE FOUR CLASSES OF MEMBERSHIP: GENERAL MEMBERS, ASSOCIATE MEMBERS, RETIRED MEMBERS, AND EMERITUS MEMBERS. ADDITIONAL CATEGORIES OR SUBCATEGORIES OF MEMBERSHIP MAY BE CREATED BY THE BOARD FROM TIME TO TIME BY RESOLUTION. THE ORGANIZATION'S MEMBERS REPRESENT NEARLY EVERY PRACTICE AREA AND PROFESSIONAL AND ACADEMIC SETTING WITHIN THE PUBLIC RELATIONS OR COMMUNICATIONS FIELD. FORM 990, PART VI, SECTION A, LINE 7A DELEGATES OF THE MEMBERSHIP, WHO SHALL HAVE AND MAY EXERCISE ALL THE POWERS, RIGHTS AND PRIVILEGES OF MEMBERS, ELECT CERTAIN DIRECTORS AND OFFICERS OF THE BOARD. FORM 990, PART VI, SECTION A, LINE 7B DELEGATES OF THE MEMBERSHIP, WHO SHALL HAVE AND MAY EXERCISE ALL THE POWERS, RIGHTS AND PRIVILEGES OF MEMBERS, HAVE THE RIGHT TO AMEND THE BYLAWS AND APPROVE CHAPTER DISSOLUTIONS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WILL BE REVIEWED IN DETAIL BY THE FINANCE COMMITTEE PRIOR TO FILING. A COPY OF THE FORM 990 WILL ALSO BE PROVIDED TO EACH MEMBER OF THE BOARD ELECTRONICALLY, AND A FULL DISCUSSION WILL ENSUE AS APPROPRIATE. FORM 990, PART VI, SECTION B, LINE 10B: EACH CHAPTER MUST HAVE BYLAWS THAT ARE CONSISTENT WITH THE NATIONAL BYLAWS AND MUST BE APPROVED BY THE BOARD. FORM 990, PART VI, SECTION B, LINE 12C PRSA BOARD MEMBERS, OFFICERS AND KEY PERSONS ARE REQUIRED TO DISCLOSE ACTUAL AND POTENTIAL CONFLICTS OF INTEREST ON AN ANNUAL BASIS. EACH DISCLOSURE IS REVIEWED BY THE CEO. ANY VIOLATIONS OF THE POLICY ARE BROUGHT TO THE ATTENTION OF THE CHAIR AND EXECUTIVE COMMITTEE. THE BOARD OF DIRECTORS WILL DETERMINE WHETHER OR NOT A CONFLICT OF INTEREST EXISTS, AND WHETHER OR NOT SUCH CONFLICT MATERIALLY AND ADVERSELY AFFECTS THE INTERESTS OF THE ORGANIZATION. A COVERED OFFICIAL WHOSE POTENTIAL CONFLICT IS UNDER REVIEW MAY NOT DEBATE, VOTE OR OTHERWISE PARTICIPATE IN SUCH DETERMINATION ONCE THE POTENTIAL CONFLICT IS DISCLOSED. IF THE BOARD OF DIRECTORS DETERMINE AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST DOES EXIST, THE BOARD WILL DETERMINE AN APPROPRIATE REMEDY. DISCUSSIONS CONCERNING CONFLICTS OF INTEREST ARE DOCUMENTED IN THE MINUTES OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15 COMPENSATION AND BENEFITS FOR THE CHIEF EXECUTIVE OFFICER (TOP STAFF OFFICIAL) IS DETERMINED BY THE EXECUTIVE COMMITTEE OF THE BOARD, WITH THE CONCURRENCE OF THE BOARD. THE EXECUTIVE COMMITTEE CONSIDERS SALARY SURVEYS OF SIMILAR ORGANIZATIONS FOR THE TOP STAFF OFFICIAL AND MAY, IN ITS DISCRETION, ENGAGE AN INDEPENDENT CONSULTANT TO CONDUCT A SALARY REVIEW. IN ADDITION, THE EXECUTIVE COMMITTEE CONDUCTS, WITH INPUT FROM THE BOARD OF DIRECTORS, AN EVALUATION OF THE CHIEF EXECUTIVE OFFICER BASED ON HIS OR HER SUCCESS ACHIEVING THE ENDS SET OUT IN THE STRATEGIC PLAN WHILE ACTING WITHIN THE LIMITATIONS OF PRSA POLICIES AND ACCOMPLISHING THE MUTUALLY AGREED-UPON OBJECTIVES. THE TERMS OF COMPENSATION ARE INCLUDED IN AN EMPLOYMENT CONTRACT, WHICH IS MUTUALLY EXECUTED BY THE CHAIR AND THE CEO. DETERMINING COMPENSATION AND BENEFITS PAYMENTS OF OTHER KEY EMPLOYEES IS DELEGATED TO THE CHIEF EXECUTIVE OFFICER WITHIN THE TERMS OF RESPONSIBILITIES SET FORTH IN THE EMPLOYMENT AGREEMENT, AS AGREED UPON BY THE BOARD. THE CEO CONSIDERS SALARY SURVEYS OF SIMILAR ORGANIZATIONS FOR THE KEY EMPLOYEE POSITIONS AND MAY, IN HIS/HER DISCRETION, ENGAGE AN INDEPENDENT CONSULTANT TO CONDUCT A SALARY REVIEW. IN ADDITION, THE CEO CONDUCTS AN EVALUATION OF THE KEY EMPLOYEES BASED ON HIS OR HER SUCCESS ACCOMPLISHING THE AGREED-UPON OBJECTIVES. THE PROCESS FOR DETERMINING THE COMPENSATION OF THE CEO AND KEY EMPLOYEES, AS OUTLINED ABOVE, WAS LAST CONDUCTED IN 2014 AND LAST REVIEWED IN 2019. FORM 990, PART VI, SECTION C, LINE 19 IN RESPONSE TO A WRITTEN OR IN-PERSON REQUEST, A COPY OF THE REQUESTED TAX FORM(S), GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS IS PROVIDED TO THE REQUESTER. IF THE REQUEST FOR COPIES IS MADE IN PERSON, A COPY OF THE REQUESTED DOCUMENT(S) WILL GENERALLY BE PROVIDED ON THE DAY OF THE REQUEST; IF THE REQUEST IS WRITTEN, THEN PRSA FORWARDS A COPY OF THE REQUESTED TAX FORM(S) OR GOVERNING DOCUMENT(S) WITHIN THIRTY DAYS. A COPY OF QUARTERLY AND AUDITED FINANCIAL STATEMENTS IS POSTED ON THE PRSA'S WEBSITE AFTER REVIEWED AND APPROVED BY THE BOARD OF DIRECTORS. FORM 990, PART XI, LINE 9: CUMULATIVE EFFECT OF CHANGE IN ACCOUNTING PRINCIPLE -1,650,750. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THE PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.