2013-11-15T08:20:44-06:00 2012-12-31 PricewaterhouseCoopers LLP 2001 MARKET ST SUITE 1700 PHILADELPHIA PA 19103 990 2012-01-01 361892375 UNDERWRITERS LABORATORIES INC % MICHAEL SALTZMAN UNDE 8472728800 333 PFINGSTEN ROAD Suite NORTHBROOK IL 600622096 M SALTZMAN 8472728800 2013-11-12 true 2673303000 2012 2016-03-07 17:11:31Z 17210587 false X www.ul.com X 1936 DE SEE SCHEDULE O 18 18 61 11 0 1539754 908868 842406499 16168719 1153308772 133000 79772244 0 2077027269 17210587 564362 1602900 0 0 335882031 9436115 0 0 0 456990430 13148650 793436823 24187665 1283590446 -6977078 862719079 852253845 946492 19705515 861772587 832548330 X SEE SCHEDULE O false true 541380 22105934 1602900 16168719 Underwriters Laboratories Inc. develops, maintains, and distributes safety standards to support its mission of promoting safe living and working environments. The organization performs research & investigation to advance safety science and uphold the safety standards. Additionally, the organization engages in public advocacy and provides education to the public to enhance safety awareness. 22105934 true true false false false false false false false false true true false false true true false true false false false true false false false false false true false true false false false false false false false false false false false false true true true true false false true X 45 0 true 61 true false true SN IT HK JA NL UK false false false false X 18 18 false false false false true true true true true false true true false true true true true true true true true false AK CA DC IN MS MT NY NC OK OR PR RI X X MICHAEL SALTZMAN 8472728800 333 PFINGSTEN ROAD NORTHBROOK IL 60062 X Winslow H Buxton 0.3 2.5 X 47710 Stephen C Coley 0.4 3.5 X 127541 Philip H Cox 0.3 2.5 X 40250 Frank Coyne 0.4 3.5 X 92693 James Dollive 0.4 3.5 X 96543 Mathias R Funfschilling 0.4 3.8 X 85627 Marla Gottschalk 0.4 3.4 X 80000 Dominic Ho 0.4 3.3 X 94878 Mark Hurwitz 0.4 3.7 X 87898 Robert C Lonergan 0.4 3.5 X 95441 Richard Owen 0.4 3.7 X 88038 David Paulison 0.4 3.8 X 85628 Tad Sano 0.4 3.5 X 85060 Jim Shannon 0.4 3.7 X 93710 Judith L Stone 0.4 3.7 X 94098 Hans C von Rohr 0.3 2.4 X 42654 George Williams 0.4 3.5 X 87054 K Williams 6.0 54.0 X 0 2110313 26749 C Anschuetz 0.0 60.0 X 409418 21000 S Greenstein 0.0 60.0 X 658419 20500 S Hewson 0.0 60.0 X 345026 10821 I Ho 0.0 60.0 X 483782 20000 C Kofman 0.0 60.0 X 567619 23650 M Saltzman 1.0 59.0 X 784059 20000 A Schaefer Jr 60.0 0.0 X 356989 11000 K Szczech 1.0 59.0 X 293634 21000 D Talka 0.0 60.0 X 331014 22838 S Wenc 0.0 60.0 X 230669 10000 S Jesudas 0.0 60.0 X 1528309 P Boyle 0.0 60.0 X 454707 21670 G Schjotz 0.0 60.0 X 265527 H Yamaki 0.0 60.0 X 555446 8782 C Gangemi 0.0 60.0 X 600000 T Brady 0.0 60.0 X 312541 21000 S Webster 0.0 60.0 X 621331 21623 J Chapin 60.0 0.0 X 275876 B Guthrie 60.0 0.0 X 279244 7152 R Williams 60.0 0.0 X 251680 7328 L Emrie 60.0 0.0 X 166722 9033 D Jordan 60.0 0.0 X 168152 8082 R Olesen 60.0 0.0 X 197265 6054 D Ryan 60.0 0.0 X 170769 7864 D Snyder 60.0 0.0 X 217085 6217 C Abounader 0.0 60.0 X 560187 W Colavecchio 0.0 60.0 X 283803 10249 G Savin 0.0 60.0 X 337368 0 J Andringa 0.0 60.0 X 520286 10000 J Fischer 0.0 60.0 X 338697 9828 A Groom 0.0 60.0 X 297251 8512 R Navarrete 0.0 60.0 X 294166 8585 A Rehmke 3.0 57.0 X 0 303892 8765 C Hasbrook 0.0 60.0 X 278727 8782 A Cotrone 0.0 60.0 X 338207 7915 2083782 15529221 404999 30 true true true DISNEY EDUCATIONAL PRODUCTIONS MARKETING 3750000 COMM2000 INC STANDARDS DISTRIBUTO 1700000 WALT DISNEY PARKS RESORTS US I MARKETING 750000 RADIO DISNEY MARKETING 500000 WALT DISNEY WORLD COMPANY MARKETING 300000 10 705087 203781 908868 STANDARDS FEE 541380 16168719 16168719 16168719 133000 133000 0 0 0 0 0 0 0 0 0 0 17210587 16301719 0 X 1501000 1501000 0 101900 101900 0 1163789 1163789 0 0 0 6275715 5890913 384802 0 0 1922494 1819487 103007 0 74117 70283 3834 0 0 0 30000 0 30000 0 0 0 0 1970783 1877377 93406 0 7043198 7043198 283758 269081 14677 0 100712 95503 5209 0 0 263177 249564 13613 0 1005487 953479 52008 0 0 100463 76556 23907 0 6220 6220 0 1432164 789121 643043 0 80000 75862 4138 0 36799 34896 1903 0 ACCREDITATION/MEMBERSHIP FEES 86436 86436 TRAINING/RECRUITING 5109 5109 MISCELLANEOUS 704344 93925 610419 24187665 22105934 2081731 0 0 3128434 0 2577579 0 0 1065861 7072535 0 0 0 0 0 7100000 0 0 194651 433840 1485102 1375765 186673 109337 0 0 861269473 831832120 0 0 2421 0 0 862719079 852253845 856319 15758499 0 0 0 7611 0 0 0 0 0 0 0 0 0 0 90173 3939405 946492 19705515 X 861772587 832548330 0 0 0 0 861772587 832548330 862719079 852253845 X -6977078 -22247179 X false true X true true true X 1183000 1296545 2028539 1539753 908868 6956705 875822322 812440032 946732592 842406499 16168719 3493570164 0 0 0 877005322 813736577 948761131 843946252 17077587 3500526869 0 534624 534624 534624 534624 3499992245 61235109 55459304 77096860 94137685 287928958 852754 852754 61235109 55459304 77096860 94990439 288781712 0 1036609695 133000 1036742695 938240431 869195881 1025857991 1975546386 17210587 4826051276 0.72523 0.00000 0.05984 0.00000 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 1485102 1375765 109337 109337 INVESTMENTS IN AFFILIATES 831832120 C 831832120 0 NOTE PAYABLE TO AFFILIATE 3939405 3939405 Part XIV - Supplemental Financial Information Part X - Liability Under FIN 48 Footnote The amount of unrecognized tax benefit is $1,891,000 and $0 as of December 31, 2012 and 2011, respectively. The Company increased the liability for uncertain tax positions by $1,891,000 in 2012 as an increase in income tax expense. The Company's policy is to include accrued interest and penalties related to uncertain tax positions as part of income tax expense. Penalties and interest accrued at December 31, 2012 and 2011 were $0 and $0, respectively. true South Asia Grantmaking 101900 101900 101900 South Asia 2012 ANNUAL FIRE SAFETY FORUM 22000 South Asia FIRE SAFETY SPONSORSHIP 79900 2 false false false false false false PART V - ADDITIONAL INFORMATION PART I, LINE 2 - PROCEDURES FOR MONITORING THE USE OF GRANT FUNDS -GRANTS AND OTHER ASSISTANCE TO ORGANIZATIONS OUTSIDE THE U.S. ARE MANAGED AND EVALUATED BY THE CORPORATE GIVING COMMITTEE. TO MONITOR THE USE OF GRANT FUNDS, THE CORPORATE GIVING COMMITTEE RECEIVES COPIES OF GRANTEE ORGANIZATIONS' ANNUAL REPORTS, NEWSLETTERS, AND/OR OTHER DOCUMENTS THAT PROVIDE UPDATES ON THEIR ACTIVITIES AND ACCOMPLISHMENTS. ADDITIONALLY, MEMBERS OF THE CORPORATE GIVING COMMITTEE MEET WITH EXECUTIVES OF MAJOR GRANTEE ORGANIZATIONS TO RECEIVE UPDATES ON THE USE OF GRANT FUNDS. true WORCESTER POLYTECHNICAL INSTITUTE 100 INSTITUTE ROAD WORCESTER MA 01609 042121659 501(c)(3) 150000 CONSUMER FEDERATION OF AMERICA 1620 I STREET NW 200 WASHINGTON DC 20006 520880625 501(c)(3) 100000 IAEI (INT'L ASSN OF ELECTRICAL INSPECTORS) 901 WATERFALL WAY SUITE 602 RICHARDSON TX 75080 043165142 501(c)(3) 100000 NATIONAL SAFETY COUNCIL 1121 SPRING LAKE DRIVE ITASCA IL 601433201 362167809 501(c)(3) 50000 HEALTH WORLD CHILDREN'S MUSEUM 1301 S GROVE AVE SUITE 160 BARRINGTON IL 60010 363505833 501(c)(3) 30000 ELECTRICAL SAFETY FOUNDATION INT'L 2900 CRYSTAL DRIVE SUITE 500 ARLINGTON VA 22202 521892239 501(c)(3) 25000 HOME FIRE SPRINKLER COALITION INC 1 BATTERYMARCH PARK BOSTON MA 02169 510620405 501(c)(3) 25000 CENTER FOR CAMPUS FIRE SAFETY 10 STATE STREET NEWBURYPORT MA 01950 141916059 501(c)(3) 20000 NATIONAL JOINT APPRENTICESHIP & TRAINING COMMITTEE 301 PRINCE GEORGES BLVD SUITE D UPPER MARLBORO MD 207747401 530212938 501(c)(3) 20000 OUTREACH INC 301 CENTER ST UNION IA 50258 200636360 501(c)(3) 12500 FDNY FOUNDATION 9 METROTECH CENTER 5E-10 BROOKLYN NY 11201 112632404 501(c)(3) 12500 NFPA (NATIONAL FIRE PROTECTION ASSN) 1 BATTERYMARCH PARK QUINCY MA 02169 041653090 501(c)(3) 10000 CHICAGO BOTANIC GARDENS 1000 LAKE COOK ROAD GLENCOE IL 60022 362225482 501(c)(3) 10000 MUSEUM OF SCIENCE AND INDUSTRY 57TH STREET LAKE SHORE DRIVE CHICAGO IL 606372093 362167797 501(c)(3) 6000 16 Part I, Line 2 - Procedures for Monitoring the Use of Grant Funds -GRANTS AND OTHER ASSISTANCE TO ORGANIZATIONS OUTSIDE THE U.S. ARE MANAGEY AND EVALUATED BY THE CORPORATE GIVING COMMITTEE. TO MONITOR THE USE OF GRANT FUNDS, THE CORPORATE GIVING COMMITTEE RECEIVES COPIES OF GRANTEE ORGANIZATIONS' ANNUAL REPORTS, NEWSLETTERS, AND/OR OTHER DOCUMENTS THAT PROVIDE UPDATES ON THEIR ACTIVITIES AND ACCOMPLISHMENTS. ADDITIONALLY, MEMBERS OF THE CORPORATE GIVING COMMITTEE MEET WITH EXECUTIVES OF MAJOR GRANTEE ORGANIZATIONS TO RECEIVE UPDATES ON THE USE OF GRANT FUNDS. true true false false false false false true false K Williams 0 616498 0 1470497 0 23318 0 16500 0 10249 0 2137062 0 C Abounader 0 560187 560187 C Anschuetz 286423 110706 12289 0 21000 430418 S Greenstein 328015 310307 20097 20500 678919 S Hewson 238895 93590 12541 10821 355847 I Ho 259866 210158 13758 20000 503782 C Kofman 360866 188175 18578 23650 591269 M Saltzman 390397 371813 21849 20000 804059 A Schaefer Jr 243386 95988 17615 11000 367989 K Szczech 206838 72790 14006 21000 314634 D Talka 229260 81995 19759 22838 353852 S Wenc 205245 25424 10000 240669 S Jesudas 1528309 1528309 P Boyle 224890 229817 21670 476377 G Schjotz 265527 265527 J Andringa 347599 133067 39620 10000 530286 J Fischer 239197 93500 6000 9828 348525 A Groom 212353 78898 6000 8512 305763 R Navarrete 206484 81682 6000 8585 302751 A Rehmke 214504 0 83388 0 6000 0 0 8765 0 312657 0 W Colavecchio 196002 84416 3385 10249 294052 G Savin 160233 83907 93228 0 0 337368 0 H Yamaki 343750 189981 21715 8782 564228 C Gangemi 600000 600000 L Emrie 150163 15635 924 9033 175755 D Jordan 148494 19201 457 8082 176234 R Olesen 172205 22714 2346 6054 203319 D Ryan 148608 19716 2445 7864 178633 D Snyder 161569 47636 7880 6217 223302 J Chapin 192542 76555 6779 275876 B Guthrie 194976 76896 7372 7152 286396 R Williams 175258 67983 8439 7328 259008 T Brady 293299 19242 21000 333541 S Webster 367248 188175 65908 21623 642954 C Hasbrook 195584 76961 6182 8782 287509 A Cotrone 231466 93375 13366 7915 346122 Part I, Line 1a - Fringe or Expense Explanation TRAVEL FOR COMPANIONS WERE PROVIDED FROM THE RELATED ORGANIZATION TO CERTAIN TRUSTEES AND OFFICERS. ALL EXPENSES FOR TRAVEL COMPANIONS WERE TREATED AS TAXABLE COMPENSATION TO THE INDIVIDUAL, PURSUANT TO THE ORGANIZATION'S GLOBAL TRAVEL POLICY. Part I, Line 4 - Severance, Nonqualified, and Equity-Based Payments Severence Nonqualified Equity-Based Comp WILLIAMS 0 16,500 0 SAVIN 88,744 0 0 Part I, Line 7 - Non-Fixed Payments THE ORGANIZATION AND ITS WORLDWIDE AFFILIATES HAVE A VARIABLE (NON-GUARANTEED) INCENTIVE PLAN ON A GLOBAL BASIS FOR MANAGEMENT AND HIGH LEVEL INDIVIDUAL CONTRIBUTORS, INCLUDING ALL PERSONS LISTED IN FORM 990, SECTION A. IN ADDITION THE COMPANY HAS A GLOBAL ALL EMPLOYEE INCENTIVE PLAN. BOTH PLANS ARE BASED ON A COMBINATION OF THE COMPANY'S GLOBAL FINANCIAL PERFORMANCE MEASURES, WHICH INCLUDES REVENUE, OPERATING PROFIT, CASH FLOW, AND DISCRETIONARY INDIVIDUAL ASSESSMENT, AS APPROVED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES. Part III - Other Additional Information THE FOLLOWING OFFICERS AND FORMER OFFICERS WERE COMPENSATED FROM UNDERWRITERS LABORATORIES INC.'S RELATED ORGANIZATIONS, UL LLC, UL ENVIRONMENT, OR A RELATED FOREIGN AFFILIATE: ANSCHUETZ, BRADY, GREENSTEIN, HEWSON, HO, KOFMAN, SALTZMAN, SZCZECH, TALKA, WEBSTER, WENC, WILLIAMS, YAMAKI, BOYLE, JESUDAS, SCHJOTZ, COLAVECCHIO, COTRONE, HASBROOK, SMIDT, SAVIN, ABOUNADER. C. GANGEMI, GENERAL COUNSEL, IS ON SECONDMENT FROM WINSTON & STRAWN LLP IN ORDER TO PERFORM DUTIES AS AN OFFICER AT UNDERWRITERS LABORATORIES INC. UNDERWRITERS LABORATORIES INC.'S RELATED ORGANIZATION, UL LLC, PROVIDES A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN TO ITS CHIEF EXECUTIVE OFFICER, K. WILLIAMS. IN 2012, THE COMPANY CONTRIBUTED $16,500 TO THE PLAN. Part I, Line 3 - Compensation of Organization's CEO/Executive Director THE PROCESS OF DETERMINING COMPENSATION FOR THE CEO, ALL OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION IS PERFORMED ANNUALLY. AN INDEPENDENT COMPENSATION CONSULTANT COMPLETES AN ANALYSIS OF COMPARABLE AND COMPETITIVE MARKET DATA WITH DATA ASSISTANCE FROM UNDERWRITERS LABORATORIES INC.'S HR/COMPENSATION GROUP. IT COVERS TOP MANAGEMENT OFFICIALS OF THE ORGANIZATION, INCLUDING ELECTED OFFICERS THROUGH VICE PRESIDENTS. THE ANALYSIS IS REVIEWED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, WHO PROVIDES FINAL APPROVAL OF ALL COMPENSATION ARRANGEMENTS. THE CEO AND SVP OF HR ARE PRESENT IN ALL COMPENSATION COMMITTEE MEETINGS BUT RECUSE THEMSELVES FOR DISCUSSION OF THEIR COMPENSATION. IN ADDITION, THE ORGANIZATION ENGAGES ANNUALLY IN A STUDY TO MEET THE REBUTTABLE PRESUMPTION OF REASONABLENESS FOR ALL TRANSACTIONS WITH DISQUALIFIED PERSONS AS STIPULATED PURSUANT TO INTERNAL REVENUE CODE SECTION 4958 AND THE REGULATIONS THEREUNDER. A WRITTEN EMPLOYMENT CONTRACT IS ESTABLISHED FOR ALL OFFICERS. Form 990 - Organization's Mission or Most Significant Activities Form 990, Part I, Line 1 THE SLOGAN FOR UNDERWRITERS LABORATORIES INC. AND ITS AFFILIATES IS "WORKING FOR A SAFER WORLD," AND ITS MISSION IS: - TO PROMOTE SAFE LIVING AND WORKING ENVIRONMENTS FOR PEOPLE BY THE APPLICATION OF SAFETY SCIENCE AND HAZARD-BASED SAFETY ENGINEERING. - TO SUPPORT THE PRODUCTION AND USE OF PRODUCTS WHICH ARE PHYSICALLY AND EVIRONMENTALLY SAFE AND TO APPLY OUR EFFORTS TO PREVENT OR REDUCE LOSS OF LIFE AND PROPERTY - TO ADVANCE SAFETY SCIENCE THROUGH RESEARCH AND INVESTIGATION - TO CONCENTRATE OUR EFFORTS AND RESOURCES ON PUBLIC SAFETY IN THOSE AREAS WHERE WE CAN MAKE VALUABLE CONTRIBUTIONS - TO CHARGE FAIR PRICES THAT ALLOW US TO MEET OUR OBLIGATIONS, SUSTAIN GROWTH, AND INVEST IN SAFETY SCIENCE AND EDUCATION - TO INVEST IN OUR PEOPLE AND ENCOURAGE OUR PEOPLE TO INVEST IN THEMSELVES - TO BE A GOOD EXAMPLE OF CORPORATE CITIZENSHIP AND SOCIAL RESPONSIBILITY. Form 990 - Part VI, Line 6 - Classes of Members or Stockholders THE ORGANIZATION HAS MEMBERS DESIGNATED AS "CORPORATE MEMBERS," WHOSE PRIMARY PURPOSE IS TO ELECT MEMBERS OF THE ORGANIZATION'S GOVERNING BODY. CORPORATE MEMBERS CONSIST OF PROMINENT INDIVIDUALS ASSOCIATED WITH THE FOLLOWING CATEGORIES: PROPERTY & CASUALTY INSURANCE INDUSTRY, CONSUMER INTEREST, EDUCATION, PUBLIC SAFETY BODY OR AGENCY, SAFETY EXPERT, STANDARDIZATION EXPERT, PUBLIC UTILITY, OFFICER OF THE ORGANIZATION, OR AT LARGE. CORPORATE MEMBERS DO NOT RECEIVE ANY SHARE OF THE ORGANIZATION'S PROFITS OR EXCESS DUES, AND THERE ARE NO DISTINGUISHING CLASSES OR LEVELS FOR CORPORATE MEMBERS. Form 990 - Part VI, Line 7a - Election of Members and Their Rights THE CORPORATE MEMBERS HAVE THE DUTY TO APPOINT ONE OR MORE MEMBERS OF THE ORGANIZATION'S GOVERNING BODY, WHICH IS THE BOARD OF TRUSTEES. A MAJORITY OF THE MEMBERS, PRESENT IN PERSON OR REPRESENTED BY PROXY, CONSTITUTES A QUORUM AT ALL MEETINGS OF CORPORATE MEMBERS FOR THE TRANSACTION OF BUSINESS EXCEPT AS OTHERWISE PROVIDED BY STATUTE OR CERTIFICATE OF INCORPORATION. EACH CORPORATE MEMBER IS ENTITLED TO ONE VOTE IN PERSON OR PROXY. Form 990 - Part VI, Line 7b - Decisions Subject to Approval of Members UNDER THE LAW OF THE STATE OF INCORPORATION, CERTAIN ACTIONS SUCH AS COMPLETE DISSOLUTION OF THE ORGANIZATION, AS DECIDED BY THE BOARD OF TRUSTEES WOULD BE SUBJECT TO APPROVAL BY THE CORPORATE MEMBERS. EACH CORPORATE MEMBER IS ENTITLED TO ONE VOTE IN PERSON OR PROXY. Form 990 - Part VI, Line 10b - Policies and Procedures Governing Chapters THE ORGANIZATION HAS WRITTEN POLICIES AND PROCEDURES GOVERNING THE ACTIVITIES OF CHAPTERS, AFFILIATES, AND BRANCHES TO ENSURE THEIR OPERATIONS ARE CONSISTENT WITH THOSE OF THE ORGANIZATION. Form 990 - Part VI, Line 11b - Organization's Process to Review Form 990 THE FORM 990 TAX RETURN IS PREPARED INTERNALLY BY TAX ACCOUNTANTS IN THE ORGANIZATION'S GLOBAL TAX DEPARTMENT. A DRAFT OF THE RETURN IS INITIALLY REVIEWED BY THE TAX DIRECTOR, THEN THE DEPARTMENT'S VICE PRESIDENT, AFTER WHICH IT IS SENT TO THE ORGANIZATION'S OUTSIDE PROFESSIONAL ACCOUNTING FIRM FOR AN INDEPENDENT REVIEW. IT IS THEN REVIEWED BY THE SENIOR VICE PRESIDENT/TREASURER BEFORE IT GOES THROUGH FINAL REVIEW FOR SIGNATURE BY THE SENIOR VICE PRESIDENT/CHIEF FINANCIAL OFFICER OF THE ORGANIZATION. THE PROFESSIONAL ACCOUNTING FIRM ALSO SIGNS OFF ON THE RETURN AS THE PAID PREPARER OF THE RETURN. Form 990 - Part VI, Line 12c - Enforcement of Conflicts Policy UNDERWRITERS LABORATORIES INC. REQUIRES ITS TRUSTEES AND OFFICERS TO SIGN OFF ON A CERTIFICATION OF COMPLIANCE TO THE ORGANIZATION'S STANDARDS OF BUSINESS CONDUCT AS WELL AS A DECLARATION OF COMPLIANCE WITH THE ORGANIZATION'S CONFLICT OF INTEREST POLICY ON AN ANNUAL BASIS. ADDITIONALLY, THE ORGANIZATION REQUIRES ALL OF ITS EMPLOYEES TO UNDERGO ETHICS TRAINING AND SIGN A CERTIFICATION OF COMPLIANCE ON AN ANNUAL BASIS. Form 990 - Part VI, Line 15a - Compensation Process for Top Official THE PROCESS OF DETERMINING COMPENSATION FOR THE CEO, ALL OFFICERS AND KEY EMPLOYEES OF THE ORGANIZATION IS PERFORMED ANNUALLY. AN INDEPENDENT COMPENSATION CONSULTANT COMPLETES AN ANALYSIS OF COMPARABLE AND COMPETITIVE MARKET DATA WITH DATA ASSISTANCE FROM UNDERWRITERS LABORATORIES INC.'S HR/COMPENSATION GROUP. IT COVERS TOP MANAGEMENT OFFICIALS OF THE ORGANIZATION, INCLUDING ELECTED OFFICERS THROUGH VICE PRESIDENTS. THE ANALYSIS IS REVIEWED BY THE COMPENSATION COMMITTEE OF THE BOARD OF TRUSTEES, WHO PROVIDES FINAL APPROVAL OF ALL COMPENSATION ARRANGEMENTS. THE CEO AND SVP OF HR ARE PRESENT IN ALL COMPENSATION COMMITTEE MEETINGS BUT RECUSE THEMSELVES FOR DISCUSSION OF THEIR COMPENSATION. IN ADDITION, THE ORGANIZATION ENGAGES ANNUALLY IN A STUDY TO MEET THE REBUTTABLE PRESUMPTION OF REASONABLENESS FOR ALL TRANSACTIONS WITH DISQUALIFIED PERSONS AS STIPULATED PURSUANT TO INTERNAL REVENUE CODE SECTION 4958 AND THE REGULATIONS THEREUNDER. Form 990 - Part VI, Line 15b - Compensation Process for Officers PLEASE SEE ABOVE. Form 990 - Part VI, Line 19 - Governing Documents Disclosure Explanation THE BY-LAWS OF THE ORGANIZATION ARE PRINTED AS A BROCHURE AND MADE AVAILABLE TO THE PUBLIC UPON REQUEST. THE DELAWARE CERTIFICATE OF INCORPORATION CAN BE OBTAINED BY ANYONE WHO REQUESTS IT THROUGH THE DELAWARE SECRETARY OF STATE'S OFFICE. UNDERWRITERS LABORATORIES INC. DOES NOT MAKE ITS CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. IN ADDITION TO BEING AVAILABLE BY REQUEST FROM THE ORGANIZATION, THE FORM 990 IS ALSO AVAILABLE AT GUIDESTAR.ORG. Form 990 - Part XI, Line 5 - Other Changes in Net Assets Explanation OTHER CHANGES IN NET ASSETS: Transfer of Affiliate Investments 22,337,354 Under Equity Method Other Book Adjustments (90,175) TOTAL CHANGE IN NET ASSETS: 22,247,179 ============ WHM HOLDINGS LLC 333 PFINGSTEN RD NORTHBROOK IL 60062 HOLDING CO DE UL INC UL QUALITY ASSURANCE LLC 10 WATER STREET ENFIELD CT 06082 800743340 PBLC SFTY DE -11158567 UL VS UL REGISTRAR LLC 639 MAIN STREET STROUDSBURG PA 18360 061597136 PBLC SFTY CT -231990 6717383 UL VS UNDERWRITERS LABORATORIES BV DELTA 1B 6835 ML ARNHEM NL NL HOLDING CO NL 240417 3463784 UL SARL UNDERWRITERS LABORATORIES HLD BV DELTA 1B 6825 ML NL HOLDING CO NL UL SARL UL INTERNATIONAL LLC 333 PFINGSTEN ROAD NORTHBROOK IL 60062 364217655 PBLC SAFETY DE UL INC UL INTERNATIONAL SERVICES BV DELTA 1B 6825ML ARNHEM NL HOLDING CO NL -135265 11997077 UL SARL INNOVADEX GMBH RHEINEAHRSTRAUSSE 135 41468 NEUSS GM PBLC SAFETY GM 1496543 INNOVADEX UL DO BRASIL CERTIFICACOES Rua Fidencio 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