2022-09-06T12:34:57-05:00 2022-04-30 410746749 CLIFTONLARSONALLEN LLP 610 W GERMANTOWN PIKE SUITE 400 PLYMOUTH MEETING PA 19462 990 2021-05-01 230959052 PENNSYLVANIA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS PENN 2154969272 1801 MARKET STREET 2400 PHILADELPHIA PA 19103 JENNIFER CRYDER CPA CEO, SECRETARY 2154969272 2022-08-31 1 JENNIFER CRYDER CPA 999009999 CONNIE M LIRA P00481097 2156433900 2022-08-31 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z JENNIFER CRYDER CPA 1801 MARKET STREET 2400 PHILADELPHIA PA 19103 6727853 0 X WWW.PICPA.ORG X 1904 PA SERVE AS AN ADVOCATE FOR PICPA MEMBERS AND THE CPA PROFESSION. 13 13 93 2000 80587 0 0 403948 5903174 5949670 228050 242792 95283 110824 6226507 6707234 2217018 350684 0 0 3427178 3809217 0 0 0 1385256 1724391 7029452 5884292 -802945 822942 15048805 13942705 3038267 2051910 12010538 11890795 X PENNSYLVANIA INSTITUTE OF CERTIFIED PUBLIC ACCOUNTANTS (PICPA) PRESERVES THE LEGACY AND PROPELS THE INTEGRITY OF THE CPA PROFESSION. WITH OVER 20,000 MEMBERS, PICPA'S MISSION IS TO FURTHER THE WELL-BEING OF ITS MEMBERS WHILE UPHOLDING THE PUBLIC INTEREST. 0 0 VOICE OF THE PROFESSION - PICPA MEMBERS ARE HIGHLY RESPECTED AND POSITIONED TO RESPOND TO LEGISLATORS, REGULATORS, THE BUSINESS COMMUNITY, MEDIA, AND CONSUMERS AT LARGE WITH MESSAGING DEVELOPED COLLABORATIVELY, PRESENTED CONSISTENTLY, AND DELIVERED PROFESSIONALLY TO PROTECT THE PUBLIC INTEREST AND ADVOCATE ON BEHALF OF THE PROFESSION. PICPA PROVIDES THE TOOLS, RESOURCES, AND GUIDANCE TO ASSIST MEMBERS WITH THESE EFFORTS. THE COVID-19 PANDEMIC HAD BOTH INTERNAL AND EXTERNAL EFFECTS ON THE ORGANIZATION. A SIGNIFICANT AMOUNT OF LIVE PROGRAMMING, WHICH CONSISTED OF CPE AND MEMBER ENGAGEMENT PROGRAMS, WAS CANCELLED DUE TO PANDEMIC CONCERNS BUT PICPA WAS ABLE TO SUCCESSFULLY SHIFT TO VIRTUAL PROGRAMMING WHEN NEEDED. THIS SHIFT ALLOWED FOR NORMAL OPERATIONS DURING FISCAL YEAR 2022.PICPA HAS NOW RESUMED SCHEDULING OF SELECT LIVE EVENTS FOR FISCAL YEAR 2023 AND ANTICIPATES AN ONGOING MIX OF LIVE AND VIRTUAL MEMBER EVENTS FOR FISCAL YEAR 2023. ENGAGEMENT - PICPA MEMBERS BUILD THEIR PROFESSIONAL NETWORK, COLLABORATE WITH COLLEAGUES TO DEVELOP TECHNICAL RESOURCES, HEIGHTEN THE CPA PRESENCE IN THE BUSINESS COMMUNITY AND THE GENERAL PUBLIC, AFFECT LEGISLATION IN PA, AND RECOGNIZE AND RESPECT THEIR PEERS. PICPA HOSTS A WIDE VARIETY OF NETWORKING PROGRAMS AND SUPPORTS NUMEROUS SOCIAL MEDIA TOOLS TO PROVIDE MEMBERS THE OPPORTUNITIES TO SHARE IDEAS AND COLLABORATE.PICPA PROVIDED OUR MEMBERS WITH A MYRIAD OF RESOURCES AND PROGRAMS RELATED TO THE COVID-19 PANDEMIC AND ITS IMPACT ON BUSINESS AND THE CPA PROFESSION AND SERVED AS AN ADVOCATE FOR PENNSYLVANIA CPAS THROUGHOUT VARIOUS STAGES OF THE PANDEMIC. PROFESSIONAL DEVELOPMENT - PICPA MEMBERS EXPERIENCE PROFESSIONAL AND PERSONAL GROWTH BY COMMENTING ON EMERGING TECHNICAL ISSUES, SHARING KNOWLEDGE IN A COLLABORATIVE ENVIRONMENT, BUILDING BUSINESS RELATIONSHIPS AMONG PEERS, AND DEVELOPING LEADERSHIP SKILLS TO ENHANCE JOB PERFORMANCE AND CAREER PROSPECTS. PICPA HAS NUMEROUS STATE AND LOCAL COMMITTEES THAT SERVE AS THE PRIMARY METHOD FOR THE DELIVERY OF THESE SERVICES. THE ONSET OF COVID-19 DID NOT DETER THE PICPA FROM OUR STRATEGY OF SEEKING BOLD, FORWARD-LOOKING OPPORTUNITIES TO STRENGTHEN OUR VALUE PROPOSITION TO MEMBERS. AS PICPA WAS ABLE TO PIVOT QUICKLY TO PROVIDING VIRTUAL EVENTS AND NETWORKING OPPORTUNITIES DURING THE PANDEMIC, WE WERE ABLE TO RETAIN HIGH LEVELS OF MEMBER ENGAGEMENT IN THESE VIRTUAL SETTINGS. 0 0 1 1 0 0 0 0 0 1 1 0 1 1 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 1 0 1 16 0 93 1 1 1 0 0 0 0 0 0 0 X 13 13 0 0 1 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 0 0 X MARIA MARINI CPA CGMA - CFO VP F 2154969272 1801 MARKET STREET 2400 PHILADELPHIA PA 19103 X AARON RISDEN CPA PRESIDENT-ELECT 2.00 2.00 X X 0 0 0 FRANCES AITKEN CPA PRESIDENT 2.00 4.00 X X 0 0 0 THOMAS FLOWERS CPA VICE PRESIDENT 2.00 4.00 X X 0 0 0 RYAN LAFFERTY CPA VICE PRESIDENT 2.00 2.00 X X 0 0 0 ELIZABETH KRISHER CPA TREASURER 2.00 4.00 X X 0 0 0 JILL GILBERT CPA IMMEDIATE PAST PRESIDENT 2.00 2.00 X X 0 0 0 THOMAS BARNES CPA DIRECTOR 2.00 2.00 X 0 0 0 CYNTHIA BERGVALL CPA DIRECTOR 2.00 4.00 X 0 0 0 RAMAN MAHADEVAN CPA DIRECTOR 2.00 2.00 X 0 0 0 MATTHEW MELINSON CPA DIRECTOR 2.00 2.00 X 0 0 0 CORY NG CPA DIRECTOR 2.00 2.00 X 0 0 0 SHEA SAMAN CPA DIRECTOR 2.00 2.00 X 0 0 0 CHRISTOPHER TURTELL CPA DIRECTOR 2.00 2.00 X 0 0 0 MICHAEL D COLGAN CAE CEO, EXEC DIR, SECR-LEFT DEC '21 15.50 24.50 X 1023156 0 130355 JENNIFER CRYDER CPA MBA CEO, SECRETARY 17.00 23.00 X 244919 0 48969 MARIA MARINI CPA CGMA CFO, VP FINANCE & OPERATIONS 28.00 12.00 X 172176 0 15198 ALLISON HENRY CPA CGMA VP PROF & TECH STANDARDS 40.00 0.00 X 216679 0 18914 PETER CALCARA VP GOVERNMENT RELATIONS 40.00 0.00 X 180299 0 46990 ADAM BATCHELOR VP LEARNING & DEVELOPMENT, CSIO 10.00 30.00 X 179723 0 41228 LORI BRADEN VP STRATEGIC MARKETING-LEFT MAR '22 40.00 0.00 X 177601 0 25589 HENRY BERNET VP TECHNOLOGY 40.00 0.00 X 159672 0 41573 HEATHER TROWER CPA MANAGER - PROF & TECH STANDARDS 40.00 0.00 X 143202 0 22207 JONATHAN BOEHMKE SENIOR DEVELOPER & SYSTEM ARCHITECT 40.00 0.00 X 137161 0 11751 BRYAN SMITH CHIEF LEARNING OFFICER 2.00 38.00 X 123191 0 15290 2757779 0 418064 15 0 1 0 APTIFY DEPT 2145 PO BOX 122145 DALLAS TX 75312 SOFTWARE SERVICES 107240 1 403948 403948 MEMBERSHIP DUES 541900 4449303 4449303 PEER REVIEW INCOME 541900 1350280 1350280 ADVERTISING REVENUE 541800 99063 18476 80587 MEMBER PROGRAM INCOME 541900 50726 50726 SUBSCRIPTIONS 511120 298 298 5949670 231262 231262 110824 110824 32149 20619 11530 11530 11530 6707234 5869083 80587 353616 350684 1542492 1243237 179707 589518 254263 32931 44060 239025 22718 17391 149721 241026 295151 54907 15227 94298 44983 76860 36992 PUBLICATIONS/ARTWORK 192028 MEMBER PROGRAM EXPENSE 142076 MEMBERSHIPS 24997 5884292 1036786 1518620 414359 13259 174107 220878 1847912 1782662 165605 65250 1145353 1724989 10320442 8516564 1792153 1883145 15048805 13942705 675919 214974 908670 892200 1384076 937392 69602 7344 3038267 2051910 X 12010538 11890795 12010538 11890795 15048805 13942705 822942 -942685 0 X 0 1 X 1 0 108562 0 0 50976 50976 0 POLITICAL INFORMATION COMMITTEE OF CPA'S 1801 MARKET STREET SUITE 2400 PHILADELPHIA PA 19013 232178228 50976 57586 0 0 1 4449303 254252 -109600 144652 133479 11173 PART I-A, LINE 1: THE PICPA ESTABLISHED A SEPARATELY SEGREGATED FUND TO CONDUCT ALL POLITICAL ACTIVITY. NO POLITICAL ACTIVITY IS CONDUCTED DIRECTLY BY THE PICPA. 12500 12500 0 1835412 1770162 65250 65250 STOCK MARKET INDEX INSTITUTIONAL SHARES 5293856 F INTERNATIONAL STOCK INDEX FUND 3222708 F 8516564 DUE FROM AFFILIATES 1875734 DEPOSITS 7411 1883145 DUE TO PEC-CPA 7344 7344 X 5741831 -942685 -942685 6684516 22718 22718 6707234 5861574 0 5861574 22718 22718 5884292 PART X, LINE 2: THE INSTITUTE IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE SERVICE CODE. THE ORGANIZATION IS SUBJECT TO TAX ON NET INCOME NOT RELATED TO THE EXEMPT PURPOSE OF THE ORGANIZATION. TAX FILINGS ARE SUBJECT TO AUDIT BY VARIOUS TAXING AUTHORITIES. THE PICPA FOLLOWS THE INCOME TAX STANDARD FOR UNCERTAIN TAX POSITIONS. THE PICPA BELIEVES THERE ARE NO UNCERTAIN TAX POSITIONS THAT NEED TO BE DISCLOSED IN THE COMBINED FINANCIAL STATEMENTS. 1 PENNSYLVANIA CPA FOUNDATION 1801 MARKET STREET SUITE 2400 PHILADELPHIA PA 19103 815449140 501(C)(3) 350684 0 SUPPORT ORGANIZATION'S MISSION 1 0 PART I, LINE 2: THE PENNSYLVANIA CPA FOUNDATION, A RELATED ORGANIZATION, IS THE SOLE RECIPIENT OF THE GRANT FUNDS. THE PICPA SHARES COMMON MANAGEMENT AND BOARD OVERSITE WITH THIS ENTITY AND AS SUCH MAINTAINS CLEAR MONITORING OF THE FUNDS RELEASED TO ENSURE THEY ARE USED FOR THEIR INTENDED PURPOSE. X X X X X X 0 1 0 MICHAEL D COLGAN CAE CEO, EXEC DIR, SECR-LEFT DEC '21 356307 0 123000 0 543849 0 116382 0 13973 0 1153511 0 528669 0 JENNIFER CRYDER CPA MBA CEO, SECRETARY 223081 0 21600 0 238 0 20492 0 28477 0 293888 0 0 0 ALLISON HENRY CPA CGMA VP PROF & TECH STANDARDS 201479 0 14750 0 450 0 17299 0 1615 0 235593 0 0 0 PETER CALCARA VP GOVERNMENT RELATIONS 167056 0 12500 0 743 0 15551 0 31439 0 227289 0 0 0 ADAM BATCHELOR VP LEARNING & DEVELOPMENT, CSIO 163436 0 16150 0 137 0 13126 0 28102 0 220951 0 0 0 LORI BRADEN VP STRATEGIC MARKETING-LEFT MAR '22 165144 0 12225 0 232 0 14316 0 11273 0 203190 0 0 0 HENRY BERNET VP TECHNOLOGY 149533 0 10000 0 139 0 13672 0 27901 0 201245 0 0 0 MARIA MARINI CPA CGMA CFO, VP FINANCE & OPERATIONS 161500 0 10000 0 676 0 13723 0 1475 0 187374 0 0 0 HEATHER TROWER CPA MANAGER - PROF & TECH STANDARDS 143009 0 0 0 193 0 11565 0 10642 0 165409 0 0 0 PART I, LINE 4B THE PICPA HAS A 457(F) DEFERRED COMPENSATION PLAN FOR THE BENEFIT OF THE CEO, MICHAEL D. COLGAN. THE PICPA COMPENSATION COMMITTEE ACCRUED TWO CREDITS UNDER THIS PLAN DURING THE 2021 CALENDAR YEAR [4/30/2021 AND 10/31/2021], THOSE AMOUNTS HAVE BEEN REPORTED ON SCHEDULE J, PART II, COLUMN C. THE PLAN WAS LIQUIDATED AND PAID OUT TO MICHAEL D. COLGAN UPON HIS RETIREMENT AT 12/31/2021. FORM 990, PART VI, SECTION A, LINE 4 THE BYLAWS WERE AMENDED, AND THE SIGNIFICANT CHANGES WERE AS FOLLOWS: IN JUNE 2021, A MEMBERSHIP VOTE WAS TAKEN TO AMEND THE PICPA BYLAWS TO DISSOLVE THE EXISTING CHAPTER GOVERNANCE STRUCTURE. AFTER REVIEWING DECLINING MEMBER ENGAGEMENT DATA FROM PRE-PANDEMIC YEARS AND LESSONS LEARNED DURING THE PANDEMIC, PICPA NOTED THAT THE UNIFORM CHAPTER GOVERNANCE STRUCTURE NO LONGER RESONATED WITH MEMBERSHIP. THIS AMENDMENT OF THE BYLAWS WAS APPROVED BY THE MEMBERSHIP AND THE BYLAWS WERE OFFICIALLY AMENDED ON AUGUST 13, 2021. THIS CHANGE TO THE BYLAWS DISSOLVED THE CHAPTER GOVERNANCE MODEL WHILE RETAINING LOCAL ENGAGEMENT OPPORTUNITIES THROUGH COMMITTEE INVOLVEMENT, ALLOWING THE PICPA TO RESPOND MORE NIMBLY TO MEMBER NEEDS. IN ADDITION, THE VOTING MEMBER CATEGORY "HONORARY MEMBER" NO LONGER EXISTS. FORM 990, PART VI, SECTION A, LINE 6 THE CPA MEMBERS OF THE PICPA WITH VOTING RIGHTS SHALL CONSIST OF FOUR CLASSES: CPA MEMBERS, NON-RESIDENT CPA MEMBERS, RETIRED CPA MEMBERS, AND LIFE MEMBERS. CPA MEMBERS: ANY PERSON WHO IS A CERTIFIED PUBLIC ACCOUNTANT OF PENNSYLVANIA OR ANOTHER STATE OR POLITICAL SUBDIVISION OF THE UNITED STATES, OR WHO IS A CERTIFIED PUBLIC ACCOUNTANT OR THE SUBSTANTIAL EQUIVALENT THEREOF OF A FOREIGN COUNTRY OR POLITICAL SUBDIVISION OF SUCH FOREIGN COUNTRY SHALL BE ELIGIBLE TO APPLY TO BECOME A CPA MEMBER. NON-RESIDENT CPA MEMBERS: ANY PERSON WHO IS A CERTIFIED PUBLIC ACCOUNTANT AND WHO DOES NOT RESIDE IN PENNSYLVANIA AND IS NOT EMPLOYED IN PENNSYLVANIA SHALL BE ELIGIBLE TO APPLY TO BECOME A NON-RESIDENT CPA MEMBER. RETIRED CPA MEMBERS: ANY CPA MEMBER OR NON-RESIDENT CPA MEMBER WHO IS NOT ENGAGED IN THE PRACTICE OF PUBLIC ACCOUNTING OR OTHER EMPLOYMENT AND IS NOT CURRENTLY SEEKING EMPLOYMENT MAY REQUEST TRANSFER TO RETIRED MEMBERSHIP PROVIDED THEY HAVE BEEN A MEMBER IN GOOD STANDING FOR AT LEAST ONE YEAR IMMEDIATELY PRECEDING THEIR REQUEST TO TRANSFER TO RETIRED MEMBERSHIP. LIFE MEMBER: ANY CPA MEMBER, NON-RESIDENT CPA MEMBER, OR RETIRED CPA MEMBER WHO HAS BEEN A MEMBER OF THE PICPA FOR FORTY CONSECUTIVE YEARS SHALL BE ELIGIBLE FOR ELECTION TO LIFE MEMBERSHIP. LIFE MEMBERS SHALL NOT BE REQUIRED TO PAY MEMBERSHIP DUES. THE NON-CPA MEMBERS OF THE PICPA WITHOUT VOTING RIGHTS SHALL CONSIST OF FIVE CLASSES: CANDIDATE FOR ADMISSION, STUDENT AFFILIATE, ACCOUNTING AFFILIATE, ASSOCIATE MEMBER, AND CGMA ASSOCIATE MEMBER CANDIDATE FOR ADMISSION: ANY INDIVIDUAL WHO HAS PASSED THE UNIFORM CPA EXAM, BUT WHO HAS NOT MET THE OTHER REQUIREMENTS IN ORDER TO BE GRANTED A CERTIFICATE AS A CERTIFIED PUBLIC ACCOUNTANT WILL BE ADMITTED AS A CANDIDATE FOR ADMISSION OF THE INSTITUTE. STUDENT AFFILIATE: ANY STUDENT ENROLLED FULL-TIME IN AN ACCREDITED COLLEGE OR UNIVERSITY IN AN UNDERGRADUATE OR GRADUATE PROGRAM AND IS MAJORING IN ACCOUNTING OR A RELATED FIELD MAY SEEK TO BECOME A STUDENT AFFILIATE. ACCOUNTING AFFILIATE: ANY PERSON WHO HAS GRADUATED FROM AN ACCREDITED COLLEGE OR UNIVERSITY WITH A BACCALAUREATE OR A GRADUATE DEGREE IN ACCOUNTING OR A RELATED FIELD, MAY SEEK TO BECOME AN ACCOUNTING AFFILIATE. ASSOCIATE MEMBER: ANY PERSON WITH A BACCALAUREATE DEGREE WHO DOES NOT QUALIFY FOR ANOTHER CLASS OF MEMBERSHIP MAY APPLY TO BECOME AN ASSOCIATE MEMBER. APPLICANTS FOR ASSOCIATE MEMBERSHIP MUST HAVE A BACCALAUREATE DEGREE; BE EMPLOYED IN PUBLIC ACCOUNTING, ACCOUNTING EDUCATION, OR A FINANCE OR ACCOUNTING POSITION IN GOVERNMENT OR INDUSTRY; AND MEET ANY ADDITIONAL REQUIREMENTS SET BY THE BOARD OF DIRECTORS. CGMA ASSOCIATE MEMBER: ANY PERSON WHO IS NOT ELIGIBLE FOR CPA MEMBERSHIP BUT IS PURSUING OR CURRENTLY HOLDS THE CHARTERED GLOBAL MANAGEMENT ACCOUNTANT (CGMA) CREDENTIAL MAY SEEK TO BECOME A CGMA ASSOCIATE MEMBER. FORM 990, PART VI, SECTION A, LINE 7A ALL CPA MEMBERS HAVE THE RIGHT TO ELECT MEMBERS OF THE ORGANIZATION'S GOVERNING BODY. FORM 990, PART VI, SECTION A, LINE 7B THE CPA MEMBERS OF THE PICPA HAVE THE POWER TO SELECT THE AT-LARGE MEMBERS OF THE BOARD AND COUNCIL, AS WELL AS MEMBERS OF SELECTED COMMITTEES. IN ADDITION, AMENDMENTS TO THE BYLAWS MUST BE APPROVED BY TWO-THIRDS OF CPA MEMBERS OF THE PICPA SO VOTING. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND THEN REVIEWED BY MANAGEMENT AND THE AUDIT COMMITTEE. AFTER MANAGEMENT AND THE AUDIT COMMITTEE HAVE REVIEWED, THE BOARD WILL BE PROVIDED WITH A COPY ONE WEEK BEFORE FILING, DURING WHICH TIME THEY CAN REVIEW AND COMMENT. FORM 990, PART VI, SECTION B, LINE 12C PICPA HAS A WRITTEN CONFLICT OF INTEREST POLICY WHICH IS REVIEWED AND ACKNOWLEDGED ANNUALLY BY PICPA BOARD MEMBERS. THIS WRITTEN CONFLICT OF INTEREST DOCUMENT IS PROVIDED TO EACH OF THE ABOVE INDIVIDUALS AT THE FIRST ORGANIZATIONAL MEETING FOLLOWING THE INSTALLATION OF THE NEW LEADERSHIP AT THE PICPA ANNUAL MEETING. A SIGNED ACKNOWLEDGMENT OF COMPLIANCE WITH THE CONFLICT OF INTEREST POLICY IS MAINTAINED IN THE PICPA HEADQUARTERS AND IS MONITORED AND ENFORCED BY THE CEO. IF THERE IS A DISAGREEMENT OR UNCERTAINTY AS TO WHETHER OR NOT A CONFLICT OF INTEREST EXISTS, A FORMAL DETERMINATION WILL BE MADE BY THE BOARD. ALL INDIVIDUALS REQUIRED TO SIGN THE CONFLICT OF INTEREST POLICY HAVE AN ONGOING DUTY TO DISCLOSE CONFLICTS OF INTEREST AS THEY ARISE. IN ADDITION, ALL PICPA EMPLOYEES ARE REQUIRED TO REVIEW AND ACKNOWLEDGE THE PICPA CODE OF CONDUCT FOR EMPLOYEES POLICY, WHICH INCLUDES A COPY OF THE PICPA CONFLICT OF INTEREST POLICY. THE SIGNED ACKNOWLEDGEMENT THE PICPA CODE OF CONDUCT FOR EMPLOYEES POLICY IS PROVIDED BY ALL PICPA EMPLOYEES AT THE BEGINNING OF THE FISCAL YEAR (MAY 1), OR UPON EMPLOYMENT. AS PART OF THE CONFLICT OF INTEREST POLICY, ALL EMPLOYEES SHALL HAVE A CONTINUING DUTY TO DISCLOSE CONFLICTS OF INTEREST AS THEY ARISE. ALL OFFICERS, KEY EMPLOYEES, AND OTHER VICE-PRESIDENTS ARE REQUIRED TO ALSO ANNUALLY COMPLETE CONFLICT OF INTEREST DISCLOSURE STATEMENTS. IN THE EVENT THAT AN INDIVIDUAL ABOVE HAS A PERSONAL INTEREST OR A CONFLICT OF INTEREST THAT ARISES, IT MUST BE DISCLOSED IN WRITING TO THE CEO IMMEDIATELY. THEREAFTER, THAT INDIVIDUAL SHALL REFRAIN FROM ANY PORTION OF ANY MEETING WHEN THESE MATTERS ARE DISCUSSED OR CONSIDERED AS THEIR PRESENCE COULD INHIBIT FREE DISCUSSION OF THE MATTER. MINUTES OF APPROPRIATE MEETINGS SHOULD REFLECT THAT SUCH DISCLOSURE WAS MADE, AND THAT SUCH PERSON WAS NOT PRESENT DURING DISCUSSIONS OF, AND ABSTAINED FROM VOTING ON, THE CONFLICT MATTER. FORM 990, PART VI, SECTION B, LINE 15A PICPA'S COMPENSATION COMMITTEE CONSISTS OF PICPA'S IMMEDIATE PAST PRESIDENT, PRESIDENT, AND PRESIDENT-ELECT. EACH YEAR, THE COMPENSATION COMMITTEE CONVENES TO REVIEW THE COMPENSATION OF THE CEO AND OTHER KEY EMPLOYEES. THE ANNUAL SALARY REVIEW CONSISTS OF A MULTI-STEP PROCESS 1) THE CEO PREPARES ANNUAL OBJECTIVES AND GOALS WHICH ARE REVIEWED AND APPROVED BY THE COMMITTEE; 2) THE PRESIDENT AND PRESIDENT-ELECT COMPARE CEO COMPENSATION LEVELS WITH THEIR COUNTERPARTS IN THE 11 LARGEST STATE CPA SOCIETIES, REVIEW COMPENSATION LEVELS AS DISCLOSED ON OTHER COMPARABLE ORGANIZATIONS' 990S AND PERIODICALLY ENGAGES AN INDEPENDENT COMPENSATION CONSULTANT TO SURVEY THE MARKETPLACE; 3) THE COMMITTEE REVIEWS THE RESULTS OF AN ANNUAL COMPENSATION SURVEY CONDUCTED BY ONE OF THE STATE CPA SOCIETIES; AND 4) THE COMMITTEE REVIEWS THE SUMMARY OF CEO ACCOMPLISHMENTS BASED ON THE STATED OBJECTIVES AND GOALS. MINUTES OF THE MEETING ARE PREPARED AND MAINTAINED BY THE COMPENSATION COMMITTEE. THE FINAL SALARY FOR THE CEO IS COMMUNICATED TO THE CEO AND CFO FROM THE COMPENSATION COMMITTEE. THE COMPENSATION COMMITTEE WILL RECONVENE NEAR THE END OF THE FISCAL YEAR TO DETERMINE IF ANY ADDITIONAL BONUS WILL BE PAID TO THE CEO UNDER THE TERMS OF THE CEO'S CONTRACT WITH THE PICPA. ALLOWABLE FRINGE BENEFITS FOR THE CEO ARE DETAILED IN THE CEO'S WRITTEN EMPLOYMENT AGREEMENT. THE CEO PRESENTS ANNUALLY TO THE COMPENSATION COMMITTEE AN ANALYSIS OF THE PERFORMANCE OF THE ORGANIZATION'S KEY EMPLOYEES. AT THAT TIME THE COMPENSATION COMMITTEE REVIEWS AND APPROVES COMPENSATION BONUSES, IF ANY, FOR THIS GROUP, AS SUGGESTED BY THE CEO. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST. THE COMBINED FINANCIAL STATEMENTS ARE ALSO POSTED ON WWW.PICPA.ORG. FORM 990, PART VII, SECTION A, LINE 1: JENNIFER CRYDER, PICPA'S FORMER EXECUTIVE VICE PRESIDENT AND CHIEF OPERATING OFFICER, WAS UNANIMOUSLY SELECTED AS THE PICPA'S NEW CEO AND EXECUTIVE DIRECTOR BY ITS BOARD OF DIRECTORS IN JULY 2021. MICHAEL COLGAN, PICPA FORMER CEO, ANNOUNCED HIS RETIREMENT IN EARLY 2021, AND A MEMBER-LED EXECUTIVE SEARCH COMMITTEE WAS FORMED TO FIND HIS SUCCESSOR. JENNIFER CRYDER BEGAN SERVING AS CEO AND EXECUTIVE DIRECTOR ON SEPTEMBER 1, 2021. AFTER A SHORT TRANSITION PERIOD, MICHAEL COLGAN RETIRED ON DECEMBER 31, 2021. PICPA FOUNDATION FOR EDUCATION AND RESEARCH 1801 MARKET STREET SUITE 2400 PHILADELPHIA PA 19103 222470981 TO PROVIDE A BROAD SPECTRUM OF HIGH-QUALITY EDUCATIONAL PROGRAMS PA 501(C)(3) LINE 10 PICPA 1 PENNSYLVANIA CPA FOUNDATION 1801 MARKET STREET SUITE 2400 PHILADELPHIA PA 19103 815449140 TO SUPPORT CAREERS IN ACCOUNTING AND PURSUIT OF CPA CREDENTIAL PA 501(C)(3) LINE 12A, I PICPA 1 PENNSYLVANIA INSTITUTE OF CPAS INSURANCE TRUST 1801 MARKET STREET SUITE 2400 PHILADELPHIA PA 19103 236546724 PROVIDE INSURANCE PLANS TO MEMBERS, THEIR EMPLOYEES & EMPLOYEES OF THE PICPA PA PICPA T 1.00000 1 0 1 0 0 0 0 0 0 0 0 0 1 0 1 1 0 1 1 0 PENNSYLVANIA CPA FOUNDATION B 350684 CASH PICPA FOUNDATION FOR EDUCATION AND RESEARCH N 129043 CASH PICPA FOUNDATION FOR EDUCATION AND RESEARCH O 2164770 CASH PENNSYLVANIA CPA FOUNDATION O 444726 CASH PICPA FOUNDATION FOR EDUCATION AND RESEARCH Q 3819561 CASH PENNSYLVANIA CPA FOUNDATION Q 382691 CASH