2023-08-10T11:06:16-05:00 2022-12-31 521446779 JOHNSON LAMBERT LLP 4242 SIX FORKS ROAD SUITE 1500 RALEIGH NC 27609 990 2022-01-01 260003391 THE SURETY & FIDELITY ASSOCIATION OF AMERICA SURE 2024630600 1140 19TH STREET NW 500 WASHINGTON DC 200366617 J LEE COVINGTON III PRESIDENT & CEO 2024630600 2023-06-27 1 J LEE COVINGTON III 999009999 0 J CALVIN MARKS P01226973 9197196400 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z J LEE COVINGTON II 1140 19TH STREET NW 500 WASHINGTON DC 200366617 6265848 0 X WWW.SURETY.ORG X 2001 DC SEE SCHEDULE O 18 18 15 500 0 0 0 0 5332910 5386100 100019 23033 30625 55149 5463554 5464282 5700 5000 0 0 3317964 2950554 0 0 0 1695310 2339329 5018974 5294883 444580 169399 6311945 6599686 2659740 3195651 3652205 3404035 PERFORMS A LEADERSHIP ROLE IN PROMOTING AND PRESERVING THE USE OF FIDELITY AND SURETY BONDS TO PROTECT PUBLIC AND PRIVATE INTERESTS. 0 0 LEGAL AFFAIRS AND LEGISLATION: FEES PAID TO MONITOR LEGISLATION AND HIRE ATTORNEYS TO PROVIDE LEGAL ADVICE ON MATTERS RELATED TO SURETY AND FIDELITY BONDS. STATISTICAL REPORTS AND ANALYSIS: DATA AND REPORTS REGARDING THE SURETY AND FIDELITY INDUSTRIES PROVIDED TO MEMBERS AND OTHER INTERESTED PARTIES. EDUCATION AND PROMOTION: PUBLIC SERVICE INFORMATION TO EDUCATE CONSUMERS AND GOVERNMENT OFFICIALS ABOUT SURETY AND FIDELITY BONDS. 0 0 0 1 0 0 0 0 0 1 0 0 1 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 1 0 0 1 33 0 1 15 1 0 0 0 0 1 1 0 0 0 X 18 18 1 0 0 0 1 1 0 1 1 0 0 1 1 1 1 1 1 1 1 0 X THE ORGANIZATION 2024630600 1140 19TH STREET NW 500 WASHINGTON DC 200366617 BOB MURRAY CHAIR 1.00 X X 0 0 0 ROBERT RANEY VICE-CHAIR 1.00 0.50 X X 0 0 0 JOHN WELCH PAST CHAIR 1.00 X 0 0 0 ANTONIO ALBANESE DIRECTOR 0.50 0.50 X 0 0 0 STEVE ANDERSON DIRECTOR (TO APR '22) 0.50 X 0 0 0 KEN BEARLEY DIRECTOR 0.50 X 0 0 0 KENNETH CHAPMAN DIRECTOR 0.50 0.50 X 0 0 0 RICK CIULLO DIRECTOR 1.00 0.50 X 0 0 0 STEPHEN HANEY DIRECTOR 0.50 X 0 0 0 JAMES KAWIECKI DIRECTOR 0.50 X 0 0 0 MICHAEL KEIMIG DIRECTOR 1.00 X 0 0 0 MATTHEW LUBIN DIRECTOR (FROM APR '22) 0.50 X 0 0 0 TIM MIKOLAJEWSKI DIRECTOR 1.00 0.50 X 0 0 0 ALAN PAVLIC DIRECTOR 0.50 X 0 0 0 SARINA PUCIO DIRECTOR 0.50 X 0 0 0 STEPHEN RUSCHAK DIRECTOR (FROM APR '22) 1.00 X 0 0 0 MICHAEL SEFF DIRECTOR 0.50 X 0 0 0 GARY STUMPER DIRECTOR 0.50 X 0 0 0 LARRY TAYLOR DIRECTOR 0.50 0.50 X 0 0 0 J LEE COVINGTON II PRESIDENT & CEO 50.00 1.00 X 622798 0 79523 JULIE ALLEYNE VP, POLICY; GEN COUNSEL, SECR-TREASURER 45.00 X 248570 0 63201 PETER ROTH VP, STRAT COMM, MKT, & RES 40.00 1.00 X 240869 0 39981 WILLIAM HEINBOKEL DIR, FIDELITY & REG COMPLIANCE 40.00 X 220639 0 40512 ADAM D BRACKEMYRE VP, GOVERNMENT AFFAIRS 40.00 X 195121 0 38654 ALAN CLARK ACTUARY 40.00 X 142677 0 42271 EDWARD O'DONNELL MGR, STATISTICAL 40.00 X 134431 0 47051 1805105 0 351193 7 0 1 0 ERNST & YOUNG LLP 1101 NEW YORK AVE NW 300 WASHINGTON DC 20005 STRATEGIC CONSULTING 260000 INSURANCE SERVICE OFFICES INC PO BOX 27507 NEW YORK NY 10087 STATISTICAL DATA PROCESSING 222400 PROLOGUE STRATEGY LLC 2335 E COLORADO BLVD STE 115 PASADENA CA 91107 STRATEGIC COMMUNICATIONS 193227 CGCN GROUP LLC 1101 K ST NW 650 WASHINGTON DC 20005 STRATEGIC COMMUNICATIONS 125000 AMERICAN PROPERTY CASUALTY INSURANCE ASS 555 12TH STREET NW SUITE 550 WASHINGTON DC 20004 LEGISLATIVE/LOBBYING SERVICES 120000 6 MEMBERS' ASSESSMENTS 900099 4998616 4998616 STATISTICAL FILERS 900099 219999 219999 STUDIES AND SURVEYS 900099 116985 116985 SUBSCRIBER FEES 900099 42500 42500 SEMINAR REGISTRATION 900099 8000 8000 5386100 88056 88056 31063 31063 736543 801566 -65023 -65023 -65023 24086 24086 24086 5464282 5386100 0 78182 X 5000 1789868 830288 104413 81467 144518 47617 129694 267000 32830 643673 45413 97122 295193 60239 139972 15 66336 38391 STAT. REPORTS & ANALYSI 247211 AMICUS BRIEFS 112301 COMPENSATION SURVEY 35500 DUES & SUBSCRIPTIONS 29362 51460 5294883 1307015 1258948 470592 458499 86207 53066 14448 14448 118975 157882 825410 592229 279541 233181 3611053 3232558 424114 1191104 6311945 6599686 493174 377437 2166566 2818214 2659740 3195651 X 3652205 3404035 3652205 3404035 6311945 6599686 X 169399 -376047 -41522 X 0 1 X 1 0 0 0 1 4998616 345351 124365 469716 408509 61207 477056 328031 149025 334157 250001 84156 14197 14197 0 233181 OPERATING LEASE ASSET 1087117 DEFERRED COMPENSATION 103987 1191104 OPERATING LEASE LIABILITY 1496429 ACCRUED POST-RETIREMENT BENEFITS 1133803 DEFERRED COMPENSATION 104038 INS. DEPT EXAM. RESERVE 83944 2818214 X PART X, LINE 2: MANAGEMENT EVALUATED TAX POSITIONS AND CONCLUDED THAT THE ENTITIES HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE CONSOLIDATED FINANCIAL STATEMENTS. FOR THE YEARS ENDED DECEMBER 31, 2022 AND 2021, NO PROVISION FOR INCOME TAXES WAS MADE FOR THE ORGANIZATION, AS NEITHER ORGANIZATION HAD ANY SIGNIFICANT NET UNRELATED BUSINESS INCOME AND DID NOT IDENTIFY ANY UNCERTAIN TAX POSITIONS REQUIRING RECOGNITION OR DISCLOSURE IN THE CONSOLIDATED FINANCIAL STATEMENTS. X X X X 0 0 0 J LEE COVINGTON II PRESIDENT & CEO 467957 0 145500 0 9341 0 55063 0 24460 0 702321 0 0 0 JULIE ALLEYNE VP, POLICY; GEN COUNSEL, SECR-TREASU 198122 0 42697 0 7751 0 40304 0 22897 0 311771 0 0 0 PETER ROTH VP, STRAT COMM, MKT, & RES 200079 0 40016 0 774 0 38037 0 1944 0 280850 0 0 0 WILLIAM HEINBOKEL DIR, FIDELITY & REG COMPLIANCE 196325 0 23559 0 755 0 39486 0 1026 0 261151 0 0 0 ADAM D BRACKEMYRE VP, GOVERNMENT AFFAIRS 162485 0 28892 0 3744 0 30805 0 7849 0 233775 0 0 0 ALAN CLARK ACTUARY 117159 0 20309 0 5209 0 27283 0 14988 0 184948 0 0 0 EDWARD O'DONNELL MGR, STATISTICAL 107419 0 19612 0 7400 0 24753 0 22298 0 181482 0 0 0 FORM 990, PART VI, SECTION A, LINE 2 WITH RESPECT TO THE SFAA BOARD OF DIRECTORS, BECAUSE OF THE POSITION THE ORGANIZATION HOLDS IN THE INDUSTRY IT REPRESENTS, WE EXPECT THAT MANY OF OUR MEMBERS WILL HAVE INCIDENTAL BUSINESS RELATIONSHIPS FROM TIME TO TIME. ALL MEMBERS OF THE BOARD OF DIRECTORS ARE SUBJECT TO THE ORGANIZATION'S CONFLICT OF INTEREST POLICY AND MUST DISCLOSE ANY KNOWN CONFLICTS OF INTEREST. FORM 990, PART VI, SECTION A, LINE 6 ANY COMPANY LICENSED TO ENGAGE IN THE BUSINESS OF SURETY OR FIDELITY BONDING, OR AS A REINSURER, AND MEETING SUCH OTHER CRITERIA AS MAY BE DETERMINED FROM TIME TO TIME BY THE BOARD OF DIRECTORS, IS ELIGIBLE TO BECOME A MEMBER UPON ITS APPLICATION. FORM 990, PART VI, SECTION A, LINE 7A THE MEMBERS OF THE ASSOCIATION SHALL VOTE TO ELECT DIRECTORS EACH YEAR AT THE ANNUAL MEETING. IN ADDITION, THE PRESIDENT SERVES ON THE BOARD IN AN EX OFFICIO, NON-VOTING CAPACITY. TO FACILITATE VOTING FOR MEMBERSHIP ON THE BOARD OF DIRECTORS AT AN ANNUAL OR OTHER MEETING, THE BOARD OF DIRECTORS WILL APPOINT A NOMINATING COMMITTEE OF FIVE MEMBERS AT LEAST THREE WEEKS PRIOR TO THE MEETING. THE NOMINATIONS PROPOSED BY THIS MEMBER COMMITTEE WILL BE DISTRIBUTED TO ALL MEMBERS AT LEAST ONE WEEK PRIOR TO THE MEETING. OTHER NOMINATIONS ARE ALLOWED AT THE MEETING. FORM 990, PART VI, SECTION B, LINE 11B MANAGEMENT DISTRIBUTES THE DRAFT OF THE FORM 990 AND RELATED SCHEDULES TO THE SFAA EXECUTIVE COMMITTEE AND MAKES IT AVAILABLE TO BOARD MEMBERS FOR INSPECTION PRIOR TO FILING IT WITH THE IRS. FORM 990, PART VI, SECTION B, LINE 12C THE SFAA BOARD OF DIRECTORS REQUIRES ALL DIRECTORS, OFFICERS AND EMPLOYEES TO COMPLETE AND SUBMIT AN ANNUAL STATEMENT OF DISCLOSURE DETAILING ANY FACTS OR CIRCUMSTANCES THAT MIGHT CONSTITUTE A CONFLICT OF INTEREST. THE BOARD OF DIRECTORS FURTHER REQUIRES DIRECTORS, OFFICERS AND EMPLOYEES TO SUBMIT AN AMENDED STATEMENT OF DISCLOSURE TO REFLECT ANY MATERIAL CHANGES OR ADDITIONS TO THE SUBMITTED INFORMATION THAT MAY ARISE DURING THE COURSE OF THE YEAR. DIRECTORS, OFFICERS AND EMPLOYEES ARE ENCOURAGED TO ERR ON THE SIDE OF DISCLOSURE AND TO REPORT ANY SET OF CIRCUMSTANCES THAT MAY APPEAR TO POSE A CONFLICT OF INTEREST, EVEN IF THERE IS UNCERTAINTY AS TO WHETHER SUCH CIRCUMSTANCES SHOULD BE DISCLOSED. THE BOARD OF DIRECTORS RECOGNIZES THAT CONFLICTS OF INTEREST ARE NOT UNCOMMON, AND THAT NOT ALL CONFLICTS OF INTEREST ARE NECESSARILY HARMFUL TO SFAA. HOWEVER, THE BOARD REQUIRES FULL DISCLOSURE OF ALL ACTUAL AND POTENTIAL CONFLICTS OF INTEREST. UNDER THE POLICY, THE BOARD OF DIRECTORS DETERMINES WHETHER OR NOT A CONFLICT OF INTEREST EXISTS, AND WHETHER OR NOT SUCH CONFLICT MATERIALLY AND ADVERSELY AFFECTS THE INTERESTS OF SFAA. A DIRECTOR, OFFICER OR EMPLOYEE WHOSE POTENTIAL CONFLICT IS UNDER REVIEW MAY NOT DEBATE, VOTE, OR OTHERWISE PARTICIPATE IN SUCH DETERMINATION. IF THE BOARD OF DIRECTORS DETERMINES THAT AN ACTUAL OR POTENTIAL CONFLICT OF INTEREST DOES EXIST, THE BOARD SHALL ALSO DETERMINE WHETHER THE CONFLICT SHOULD BE WAIVED OR IDENTIFY AN APPROPRIATE REMEDY. SUCH REMEDY MAY INCLUDE, FOR EXAMPLE, THE RECUSAL OF THE CONFLICTED DIRECTOR, OFFICER OR EMPLOYEE FROM PARTICIPATING IN CERTAIN MATTERS PENDING BEFORE THE BOARD. FORM 990, PART VI, SECTION B, LINE 15 COMPARABILITY DATA IS USED IN DETERMINING SALARIES FOR THE PRESIDENT & CEO AND OTHER TOP MANAGEMENT POSITIONS. THE ASSOCIATION PURCHASES THE CEO COMPENSATION SURVEY PERIODICALLY. IN 2022, THE ORGANIZATION HIRED A COMPENSATION CONSULTANT TO REVIEW THE CEO'S COMPENSATION. COMPENSATION SURVEYS FOR ASSOCIATIONS ALSO ARE REVIEWED TO DETERMINE KEY POSITION SALARIES, AND THE DECISION IS DOCUMENTED. FORM 990, PART VI, SECTION C, LINE 19 THESE DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC. FORM 990, PART IX, LINE 11G COMMUNICATIONS 487,325. CONSULTANTS 134,971. PUBLIC RELATIONS 12,397. GOVERNMENT RELATIONS 8,980. FORM 990, PART XI, LINE 9: PENSION PLAN ADJUSTMENT -320,794. POSTRETIREMENT PLAN ADJUSTMENT 279,272. THE SURETY FOUNDATION 1140 19TH STREET NW STE 500 WASHINGTON DC 200364347 731728689 SCHOLARSHIPS DC 501(C)(3) LINE 7 THE SURETY & FIDELITY ASSOCIATION OF AMERICA 1 THE SURETY & FIDELITY ASSOCIATION OF AMERICA PAC 1140 19TH STREET NW STE 500 WASHINGTON DC 200364347 832558759 POLITICAL ACTION COMMITTEE DC 527 THE SURETY & FIDELITY ASSOCIATION OF AMERICA 1 0 0 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 0 0