2016-08-10T18:40:13-05:00 2015-12-31 381357951 PLANTE & MORAN PLLC 10 S Riverside Plaza 9th Floor Chicago IL 60606 990 2015-01-01 362136422 SOCIETY OF ACTUARIES SOCI 8477063500 475 N MARTINGALE ROAD No 600 SCHAUMBURG IL 601732252 gregory heidrich executive director 8477063500 2016-08-10 1 Lu Ann Trapp P01506476 3122071040 2016-08-09 2015 2016-12-15 16:53:06Z gregory heidrich 475 N MARTINGALE ROAD No 600 SCHAUMBURG IL 601732252 68266997 0 X WWW.SOA.ORG X 1948 IL The SOA, through research and education, advances actuarial knowledge and improves(See Schedule O) decision making to benefit society. We enhance the ability of actuaries to be trusted financial and business advisors on problems involving uncertain future events. We provide and ensure the integrity and relevance of our credentials. 27 27 150 3832 238064 77186 0 0 49960536 51154773 1238353 1666762 230071 261216 51428960 53082751 2266572 2248603 0 0 15253306 17292341 0 0 0 30300417 32087973 47820295 51628917 3608665 1453834 62573337 63292935 16378836 16939224 46194501 46353711 X THE SOA, THROUGH RESEARCH AND EDUCATION, ADVANCES ACTUARIAL KNOWLEDGE AND IMPROVES DECISION MAKING TO BENEFIT SOCIETY. WE ENHANCE THE ABILITY OF ACTUARIES TO BE TRUSTED FINANCIAL AND BUSINESS ADVISORS ON PROBLEMS INVOLVING UNCERTAIN FUTURE EVENTS. WE PROVIDE AND ENSURE THE INTEGRITY AND RELEVANCE OF OUR CREDENTIALS. 0 0 11181369 2248603 13291636 MEMBERSHIP: THe SOA is a membership organization with more than 26,000 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. 17422623 0 27900441 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. 6598220 0 7049327 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. 10431073 0 2913369 SOA research serves an important public and societal service by providing a valuable contribution to the body of knowledge in the various areas of actuarial science. This includes (but is not limited to) leading-edge research on retirement risks for individuals, the cost of healthcare and leading emerging risks for businesses. The SOA also is the leading provider of experience studies, which are widely used by actuaries to develop financially secure insurance systems. Many outputs of SOA research are also referenced by policymakers for valuable background and insight as they develop legislation to meet public needs in relevant areas. 10431073 0 2913369 45633285 1 0 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 0 0 1 1 1 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 158 0 1 150 1 1 1 1 CA 0 0 0 0 0 0 0 0 X 27 27 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 IL X stacy DR Lin 8477063500 475 N Martingale Dr STE 600 schaumburg IL 601732252 joan barrett BOARD MEMBER 1.00 0.00 X 0 0 0 ROWEN BELL BOARD MEMBER 1.00 0.00 X 0 0 0 JEREMY BROWN PRESIDENT-ELECT 1.00 0.00 X X 1310 0 0 AUGUST CHOW BOARD MEMBER 1.00 0.00 X 0 0 0 Karen DeToro BOARD MEMBER 1.00 0.00 X 0 0 0 ERROLL CRAMER PRESIDENT 1.00 0.00 X X 32018 0 0 JAMES DOHERTY BOARD MEMBER 1.00 0.00 X 0 0 0 IAN DUNCAN BOARD MEMBER 1.00 0.00 X 0 0 0 ANDY FERRIS BOARD MEMBER 1.00 0.00 X 0 0 0 MARK FREEDMAN PENULTIMATE PRESIDENT 1.00 0.00 X X 0 0 0 Gaetano Geretto VICE PRESIDENT 1.00 0.00 X 0 0 0 SARA GOLDBERG BOARD MEMBER 1.00 0.00 X 0 0 0 Roy Goldman BOARD MEMBER 1.00 0.00 X 0 0 0 R THOMAS HERGET VICE PRESIDENT 1.00 0.00 X 0 0 0 PAULA HODGES BOARD MEMBER 1.00 0.00 X 0 0 0 R EVAN INGLIS BOARD MEMBER 1.00 0.00 X 0 0 0 OLGA JACOBS BOARD MEMBER 1.00 0.00 X 0 0 0 RONALD KLEIN BOARD MEMBER 1.00 0.00 X 0 0 0 TONYA MANNING PAST PRESIDENT 1.00 0.00 X X 0 0 0 JENNIFER MCGINNIS BOARD MEMBER 1.00 0.00 X 0 0 0 JOHN NIGH VICE PRESIDENT 1.00 0.00 X 0 0 0 KORY OLSEN BOARD MEMBER 1.00 0.00 X 0 0 0 SUSAN PANTELY VICE PRESIDENT 1.00 0.00 X 0 0 0 Andy Rallis BOARD MEMBER 1.00 0.00 X 0 0 0 CRAIG REYNOLDS PRESIDENT 1.00 0.00 X X 23154 0 0 Marcus Robertson BOARD MEMBER 1.00 0.00 X 0 0 0 JOHN ROBINSON BOARD MEMBER 1.00 0.00 X 0 0 0 SUSAN SAMES VICE PRESIDENT 1.00 0.00 X 0 0 0 DAVID SANDBERG BOARD MEMBER 1.00 0.00 X 0 0 0 William Sayre BOARD MEMBER 1.00 0.00 X 0 0 0 SUDHA SHENOY BOARD MEMBER 1.00 0.00 X 0 0 0 JAMES TRIMBLE BOARD MEMBER 1.00 0.00 X 0 0 0 Jim Toole VICE PRESIDENT 1.00 0.00 X 0 0 0 DARRYL WAGNER VICE PRESIDENT 1.00 0.00 X 0 0 0 Teresa Winer VICE PRESIDENT 1.00 0.00 X 0 0 0 GENGHUI WU BOARD MEMBER 1.00 0.00 X 0 0 0 GREGORY HEIDRICH EXECUTIVE DIRECTOR 40.00 0.00 X 435909 0 69273 STACY D LIN DEPUTY ED/CFO 40.00 0.00 X 290926 0 54991 MARGARET ANN JORDAN MD of Strategy 40.00 0.00 X 340659 0 22361 KENNETH GUTHRIE MD OF EDUCATION 40.00 0.00 X 270617 0 51816 Richard Veys General Counsel 40.00 0.00 X 254677 0 36072 R DALE HALL MD OF RESEARCH 40.00 0.00 X 274585 0 52639 MICHAEL BOOT MD OF SPA 40.00 0.00 X 241186 0 46574 PATRICK GOULD MD OF MARKETING & COMMUNICATIONS 40.00 0.00 X 180460 0 36747 EMILY KESSLER SR STAFF ACTUARY 40.00 0.00 X 239659 0 34616 STUART KLUGMAN SR STAFF ACTUARY 40.00 0.00 X 229817 0 32836 ANDREW PETERSON SR STAFF ACTUARY 40.00 0.00 X 198246 0 44722 CYNTHIA MACDONALD SR EXPERIENCE STUDIES ACTUARY 40.00 0.00 X 198425 0 44949 JUDITH POWILLS SR DIRECTOR 40.00 0.00 X 197431 0 40044 3409079 0 567640 37 0 1 0 PROMETRIC PO BOX 223608 PITTSBURGH PA 15251 HOST TEST CENTERS 5020492 GOLIN HARRIS 875 N MICHIGAN AVE CHICAGO IL 60611 Marketing Consultant 1247912 MIB INC 160 UNIVERSITY AVE WESTWOOD MA 02284 EXPERIENCE STUDIES 903054 SLACK AND COMPANY 233 N MICHIGAN AVE CHICAGO IL 60601 MARKETING CONSULTANT 900888 RACKSPACE MANAGED HOSTING PO BOX 730759 DALLAS TX 75373 IT HOSTING SERVICES 695042 15 examination fees 611710 27900441 27900441 membership dues 611710 13291636 13291636 meeting registrations 611710 7049327 7049327 research income 541900 2139655 2139655 sponsorships 541800 709100 709100 64614 64614 51154773 1120277 1120277 23152 23152 15730731 15184246 546485 546485 546485 mailing labels/advertising 541800 131637 131637 website-joblink 541800 106427 106427 238064 53082751 51154773 238064 1689914 X 1348783 1348783 324350 324350 575470 575470 2715974 2254258 461716 11484237 9525133 1959104 936125 769443 166682 1240493 1020363 220130 915512 753763 161749 614190 287967 326223 75295 75295 185388 185388 9594092 9296092 298000 5190711 4931573 259138 848046 666237 181809 5172540 4746947 425593 4251268 3989627 261641 1017334 854190 163144 260487 205481 55006 UNRELATED BUSINESS INCO 20978 20978 equipment maintenance 1982045 1550511 431534 honoraria 438702 433133 5569 INTERNATIONAL RELATIONS 380944 380944 2055953 1698042 357911 51628917 45633285 5995632 0 842589 723208 8369900 6660367 1405199 1982641 151038 226595 1037405 886806 14193351 11128800 3252843 3064551 47318816 49464574 71407 195547 212786 62573337 63292935 7325387 7428363 9053449 9439454 0 71407 16378836 16939224 X 46194501 46353711 46194501 46353711 62573337 63292935 1453834 -1294624 0 X 0 1 X 1 0 X 41166758 44836997 49058016 49960536 51154773 236177080 41166758 44836997 49058016 49960536 51154773 236177080 14555 19265 22010 21876 21521 99227 0 14555 19265 22010 21876 21521 99227 236077853 525140 625922 742697 1182747 1120277 4196783 525140 625922 742697 1182747 1120277 4196783 109103 87599 69540 103523 77186 446951 27315 1575 28890 41828316 45552093 49870253 51246806 52352236 240849704 0.98020 0.98360 0.01740 0.01410 X Part III Ln 12 Other Income Part III, Line 12 Description: Mailing Labels 2011: 0. 2012: 0. 2103: 0. Description: Website 2011: 0. 2012: 0. 2013: 0. Description: Centers of Excellence 2011: 4500. 2012: 1575. 2013: 0. Description: Miscellaneous 2011: 22815. 2012: 0. 2013: 0. 1100350 494369 605981 3981026 2746556 1234470 9111975 7887875 1224100 3064551 DEFERRED COMPENSATION 71407 71407 X 51602739 -1294624 -1294624 52897363 185388 185388 53082751 51443529 0 51443529 185388 185388 51628917 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 financial statements. THE SOCIETY FILES FORMS 990 IN THE U.S. FEDERAL JURISDICTION AND THE STATE OF ILLINOIS. THE SOCIETY IS GENERALLY NO LONGER SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR YEARS BEFORE 2012. 0 NORTH AMERICA 1 3 GRANTS TO RECIPIENTS 428140 EUROPE 0 0 GRANTS TO RECIPIENTS 23000 EAST ASIA AND PACIFIC 1 1 GRANTS TO RECIPIENTS 109330 NORTH AMERICA 1 3 PROGRAM SERVICES PROGRAM ACTIVITIES 15372 EAST ASIA AND PACIFIC 1 1 PROGRAM SERVICES PROGRAM ACTIVITIES 208133 EUROPE 0 0 PROGRAM SERVICES PROGRAM ACTIVITIES 117788 Middle East 0 0 Grants to Recipients 10000 Central America 0 0 Grants to Recipients 5000 4 8 0 0 4 8 916763 0 916763 East Asia and Pacific Educational Grant 7500 CHECK N/A N/A NORTH AMERICA Educational Grant 7500 CHECK N/A N/A East Asia and Pacific Educational Grant 93830 CHECK N/A N/A NORTH AMERICA Educational Grant 99000 CHECK N/A N/A NORTH AMERICA Research Grant 35000 CHECK N/A N/A NORTH AMERICA Research Grant 16000 CHECK N/A N/A NORTH AMERICA Research Grant 9000 CHECK N/A N/A NORTH AMERICA Research Grant 16000 CHECK N/A N/A NORTH AMERICA Research Grant 5150 CHECK N/A N/A 7 2 RESEARCH GRANTS EAST ASIA AND PACIFIC 1 3000 CHECK N/A N/A RESEARCH GRANTS EUROPE 3 4000 CHECK N/A N/A RESEARCH GRANTS NORTH AMERICA 8 27989 CHECK N/A N/A Educational Scholarship NORTH AMERICA 10 180000 CHECK N/A N/A Educational Grant Middle East 1 10000 CHECK N/A N/A Research Grant Central America 1 5000 CHECK N/A N/A 0 0 0 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 requiremets 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 I, line 3: All grants are recorded based on the acrual method of accounting. 1 ILLINOIS STATE UNIVERSITY 313 STEVENSON HALL NORMAL IL 61790 376014070 115 10000 N/A N/A EDUCATIONAL GRANTS UNIVERSITY OF ILLINOIS PO BOX 4610 SPRINGFIELD IL 62708 376000511 115 77285 N/A N/A EDUCATIONAL GRANTS UNIVERSITY OF MICHIGAN 3003 S STATE STREET ANN ARBOR MI 48109 386006309 115 52412 N/A N/A EDUCATIONAL GRANTS UNIVERSITY OF IOWA B5 JESSUP HALL IOWA CITY IA 52242 426004813 115 109000 N/A N/A EDUCATIONAL GRANTS MORGAN STATE UNIVERSITY 1700 COLD SPRING LANE BALTIMORE MD 21251 237089143 115 8000 N/A N/A EDUCATIONAL GRANT RUDOLPH FINANCIAL CONSULTING 5002 S 137TH CIRCLE ELKHORN WI 68022 205431956 34125 N/A N/A RESEARCH GRANT SIMERGY CONSULTING 405 LEXINGTON AVE NEW YORK NY 10174 272080906 15000 N/A N/A RESEARCH GRANT KENNELL & ASSOC 3130 FAIRVIEW PARK DRIVE FALLS CHURCH VA 22042 541771141 80000 N/A N/A RESEARCH GRANT MILLIMAN 1301 5TH AVE SEATTLE WA 98101 910675641 241508 N/A N/A RESEARCH GRANT PRICEWATERHOUSE COOPERS PO BOX 75647 CHICAGO IL 60675 134008324 20000 N/A N/A RESEARCH GRANT STANFORD UNIVERSITY PO BOX 44253 SAN FRANCISCO CA 94144 941156365 91666 N/A N/A RESEARCH GRANT TOWERS WATSON LOCKBOX 28025 CHICAGO IL 60673 231159360 12000 N/A N/A RESEARCH GRANT ERNST & YOUNG 3712 SOLUTIONS CENTER CHICAGO IL 60677 346565596 81500 N/A N/A RESEARCH GRANT Youngstown State University Department of Math State Youngston OH 44555 341011998 115 7500 n/a n/a Educational Grant University of Wisconsin Office of RESEARCH SPONSORSHIP MilWAUKEE WI 53278 396006492 115 94632 n/a n/a Educational Grant University of Nebraska 131 Whittier Research Center Lincoln NE 68583 470049123 115 49038 n/a n/A educational grant Georgia State University PO BOx 3999 Atlanta GA 30302 581845423 115 50000 n/a n/a Research Grant West Chester University 1160 McDermott Drive West Chester PA 19383 232417773 115 6000 n/a n/A Research Grant Howard University 2600 6th Street NW WaSHINGTON DC 20059 530204707 115 6000 n/a n/a Educational Grant IABA Foundation PO Box 369 Windsor CT 06095 200761668 501 (c) (3) 8000 n/a n/a educational grant Conning Asset Mgmt One Financial Plaza Hartford CT 06103 431267103 22500 n/a n/a Research Grant DIRECTIONS INC 145 East commerce Drive SchaUMBURG IL 60173 363160216 10185 n/a n/A Research Grant United Health Actuarial 11611 N Meridian St Carmel IN 46032 043737148 40000 n/a n/a Research Grant UniverSITY OF ILLINOIS PO Box 4610 SpRINGFIELD IL 62708 376000511 115 7000 n/a n/A Research Grant Georgia State Research Fund PO Box 3999 Atlanta GA 30302 581845423 7500 n/a n/a Research Grant Mattew Greenwald & Associates 4201 Connecticut Ave San FRANCISCO CA 94144 521407743 122456 n/a n/a Research Grant Sibson Consulting PO Box 4092 New YORK NY 10261 131835864 17655 n/a n/a Research Grant Duke Universiyt Box 90989 Durham NC 27708 560532129 115 17500 n/a n/a Research Grant The Actuarial Foundation 475 N Martingale Rd schaUMBURG IL 60173 363968441 501 (c) (3) 349960 FMV Staff Time General Support American Academy of Actuaries 1850 N Street NW WashiNGTON DC 20036 362142798 501 (c) (6) 180880 n/a n/a General Support 16 14 RESEARCH GRANTS 21 220850 0 N/A N/A EDUCATIONAL GRANTS 6 110000 0 N/A N/A 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 1 0 0 0 0 0 0 1 0 GREGORY HEIDRICH EXECUTIVE DIRECTOR 389527 0 46382 0 0 0 44470 0 24803 0 505182 0 0 0 STACY D LIN DEPUTY ED/CFO 260543 0 30383 0 0 0 30391 0 24600 0 345917 0 0 0 MARGARET ANN JORDAN MD of Strategy 129350 0 0 0 211309 0 13157 0 9204 0 363020 0 0 0 KENNETH GUTHRIE MD OF EDUCATION 243242 0 27375 0 0 0 26531 0 25285 0 322433 0 0 0 Richard Veys General Counsel 235834 0 18843 0 0 0 25404 0 10668 0 290749 0 0 0 R DALE HALL MD OF RESEARCH 246532 0 28053 0 0 0 28537 0 24102 0 327224 0 0 0 MICHAEL BOOT MD OF SPA 221112 0 20074 0 0 0 24561 0 22013 0 287760 0 0 0 PATRICK GOULD MD OF MARKETING & COMMUNICATIONS 166317 0 14143 0 0 0 19024 0 17723 0 217207 0 0 0 EMILY KESSLER SR STAFF ACTUARY 218378 0 21281 0 0 0 24124 0 10492 0 274275 0 0 0 STUART KLUGMAN SR STAFF ACTUARY 207279 0 22538 0 0 0 22755 0 10081 0 262653 0 0 0 ANDREW PETERSON SR STAFF ACTUARY 180080 0 18166 0 0 0 20638 0 24084 0 242968 0 0 0 CYNTHIA MACDONALD SR EXPERIENCE STUDIES ACTUARY 178372 0 20053 0 0 0 20917 0 24032 0 243374 0 0 0 JUDITH POWILLS SR DIRECTOR 178839 0 18592 0 0 0 20193 0 19851 0 237475 0 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 PRESIDENT AND PRESIDENT-ELECT 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. Part I, Line 4a THE MD OF STRATEGY RECEIVED A ONE-TIME SEVERANCE PAYMENT OF $211,309. THE PAYMENT WAS DETERMINED BASED ON ONE YEAR ANNUAL SALARY. Part I, Line 7 Annual bonuses are determined by preset percentages by salary grades. The executive director, Deputy executive director, and leadership team have discretion over which percentage, within the range, is used to determine bonuses. Form 990, Part VI, Section A, line 1 The Leadership Team consists of 4 SOA officers and the Executive Director. 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 11 The return was prepared by the organization and was reviewed by our outside tax advisor. The audit 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 executive director, 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 executive director 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 2014 and 2015 are available on the website. Form 990, Part IX, line 11g CONSULTING: Program service expenses 2,555,810. Management and general expenses 240,213. Fundraising expenses 0. Total expenses 2,796,023. EXAM GRADING & CBT: Program service expenses 5,016,516. Management and general expenses 0. Fundraising expenses 0. Total expenses 5,016,516. EXPERIENCE STUDIES: Program service expenses 1,548,095. Management and general expenses 0. Fundraising expenses 0. Total expenses 1,548,095. HR EXPENSE: Program service expenses 175,671. Management and general expenses 57,787. Fundraising expenses 0. Total expenses 233,458.