2022-02-15T12:39:49-06:00 2020-12-31 271728945 PKF O'CONNOR DAVIES LLP 300 TICE BOULEVARD SUITE 315 WOODCLIFF LAKE NJ 07677 990 2020-01-01 132940919 ACORD CORPORATION ACOR 8456201700 ONE BLUE HILL PLAZA 15TH FLOOR PEARL RIVER NY 10965 TANYA KROCHTA SVP & CHIEF ADMIN. OFFICER 8456201700 2022-02-15 1 TANYA KROCHTA 999009999 JOSEPH N RUSSELL P00168046 2017129800 2022-02-15 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z WILLIAM PIERONI ONE BLUE HILL PLAZA 15TH FLOOR PEARL RIVER NY 10965 30016207 0 X WWW.ACORD.ORG X 1978 DE TO PROMOTE THE INTERESTS OF AND IMPROVE THE EFFICIENCY AND EFFECTIVENESS OF ALL TRADING PARTNERS WITHIN THE VARIOUS SEGMENTS OF THE INSURANCE AND RELATED FINANCIAL SERVICES INDUSTRIES. 22 21 67 23 0 0 0 0 21534335 25035467 882019 258081 0 0 22416354 25293548 0 0 0 0 8713477 8890282 0 0 0 5858384 5310739 14571861 14201021 7844493 11092527 52865395 42845098 12704298 12375386 40161097 30469712 X THE ASSOCIATION FOR COOPERATIVE OPERATIONS RESEARCH AND DEVELOPMENT ("ACORD") IS A NOT-FOR-PROFIT CORPORATION ORGANIZED TO PROMOTE THE INTERESTS OF AND IMPROVE THE EFFICIENCY AND EFFECTIVENESS OF ALL TRADING PARTNERS WITHIN THE VARIOUS SEGMENTS OF THE INSURANCE AND PROMOTING THE INTERESTS OF AND IMPROVING THE EFFICIENCY AND EFFECTIVENESS OF ALL TRADING PARTNERS WITHIN THE VARIOUS SEGMENTS OF THE INSURANCE AND RELATED FINANCIAL SERVICES INDUSTRIES BY DEVELOPING STANDARDS, SPECIFICATIONS, AND RELATED IMPLEMENTATIONS TOOLS FOR THE ELECTRONIC EXCHANGE OF INFORMATION AND OTHER INFORMATION PROCESSING. ACORD ALSO SERVES THE PUBLIC INTEREST AND THE INTERESTS OF CONSUMERS OF INSURANCE AND RELATED FINANCIAL SERVICES THROUGH ANALYSIS, EDUCATION, STANDARDS SETTING AND RESEARCH & DEVELOPMENT ACTIVITIES CONCERNING THE ELECTRONIC EXCHANGE OF INFORMATION AND OTHER INFORMATION PROCESSING. 0 0 PROMOTING THE INTERESTS OF AND IMPROVING THE EFFICIENCY AND EFFECTIVENESS OF ALL TRADING PARTNERS WITHIN THE VARIOUS SEGMENTS OF THE INSURANCE AND RELATED FINANCIAL SERVICES INDUSTRIES BY DEVELOPING STANDARDS, SPECIFICATIONS, AND RELATED IMPLEMENTATIONS TOOLS FOR THE ELECTRONIC EXCHANGE OF INFORMATION AND OTHER INFORMATION PROCESSING. ACORD ALSO SERVES THE PUBLIC INTEREST AND THE INTERESTS OF CONSUMERS OF INSURANCE AND RELATED FINANCIAL SERVICES THROUGH ANALYSIS, EDUCATION, STANDARDS SETTING AND RESEARCH & DEVELOPMENT ACTIVITIES CONCERNING THE ELECTRONIC EXCHANGE OF INFORMATION AND OTHER INFORMATION PROCESSING. 0 0 0 1 0 0 0 0 0 1 1 0 0 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 1 0 0 0 0 0 0 1 1 0 0 1 17 0 67 1 0 1 UK 0 0 0 0 1 0 X 22 21 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X LISA PLUNKETT 8456201700 ONE BLUE HILL PLAZA 15TH FLOOR PEARL RIVER NY 10965 WILLIAM PIERONI PRESIDENT & CEO 40.00 X X 1976207 0 309045 TONY MATTIOLI CHAIR 1.00 X X 0 0 0 KIRK BEHRENS VICE-CHAIR 1.00 X X 0 0 0 BILL DEVINE DIRECTOR 1.00 X 0 0 0 CHRISTOPH CARUS DIRECTOR 1.00 X 0 0 0 COLLEEN BATMAN DIRECTOR 1.00 X 0 0 0 DAVE MATCHAM DIRECTOR 1.00 X 0 0 0 DAVID O'LEARY DIRECTOR 1.00 X 0 0 0 DR RALF SCHNEIDER DIRECTOR 1.00 X 0 0 0 IAN MACARTNEY DIRECTOR 1.00 X 0 0 0 JAMES TYO DIRECTOR 1.00 X 0 0 0 JOHN ARTESANI DIRECTOR 1.00 X 0 0 0 JOHN KELLINGTON DIRECTOR 1.00 X 0 0 0 KEVIN KENNEDY DIRECTOR 1.00 X 0 0 0 MARK BERTHIAUME DIRECTOR 1.00 X 0 0 0 MARK COOK DIRECTOR 1.00 X 0 0 0 MARK KNIPFER DIRECTOR 1.00 X 0 0 0 MARKUS SCHMID DIRECTOR, THRU 10/31/20 1.00 X 0 0 0 PATRICK MOLINEUX DIRECTOR 1.00 X 0 0 0 RICHARD BRAME DIRECTOR 1.00 X 0 0 0 RICHARD MCCOACH DIRECTOR 1.00 X 0 0 0 ROBERT KELLY DIRECTOR 1.00 X 0 0 0 ROBERT RUSBULDT DIRECTOR 1.00 X 0 0 0 STEVEN BEARD DIRECTOR, THRU 1/31/2020 1.00 X 0 0 0 TANYA KROCHTA SVP & CHIEF ADMINISTRATIVE OFFICER 40.00 X 445865 0 81647 ANDREW ZUCKERMAN VP, GOVERNMENT AFFAIRS & GENERAL COUNSEL 40.00 X 232951 0 71306 MARIA AUGUST SVP, STANDARDS & MEMBERSHIP 40.00 X 240504 0 75541 DAVID STERNER VP, RESEARCH & DEVELOPMENT 40.00 X 228367 0 72557 BIJESH JACOB SENIOR VP, TECHNOLOGY & STANDARDS 40.00 X 361981 0 60188 RAKESH TANGRI CHIEF SOLUTIONS ARCHITECT 40.00 X 275630 0 1214 HOWARD SCHUSTER VP, PMO 40.00 X 218316 0 60679 LOTHAR RAUCH VP, STRATEGY & CORPORATE DEVELOPMENT 40.00 X 212706 0 22581 PATRICK CORLESS VP CHIEF ENTERPRISE ARCHITECT - STANDARDS 40.00 X 195765 0 44652 4388292 0 799410 31 0 1 0 BULLDOG CONSULTING SERVICES LLC PO BOX 65 LEO IN 46765 CONSULTING SERVICES 287939 RI CONSULT LTD FLAT 4 63 PUTNEY BRIDGE ROAD LONDON ENGLAND UK SW18 1PD CONSULTING SERVICES 206331 ARINA TECHNOLOGIES LLC 653 GROVE AVE EDISON NJ 08820 CONSULTING SERVICES 198408 3 MEMBERSHIP DUES 524298 16179336 16179336 PRODUCT AND OTHER SERVICES 524298 4462602 4462602 SUBSCRIPTION FEES 524298 4393529 4393529 25035467 318340 318340 4662400 4722659 -60259 -60259 -60259 25293548 25035467 0 258081 3733990 21730 3706603 246218 531463 650278 146930 205915 40147 1388965 485121 472279 1263012 47800 337391 417217 218200 EXCISE TAXES 254837 REPAIR AND MAINTENANCE 26075 TRAINING & EDUCATION 6164 MISCELLANEOUS EXPENSES 686 14201021 45854 45682 11945549 8848376 910469 880812 491924 500369 4368485 2574355 981464 1794130 20132375 25306197 18288231 5003665 69529 465867 52865395 42845098 5414327 3850784 7289971 6185089 0 2339513 12704298 12375386 X 0 0 0 0 40161097 30469712 40161097 30469712 52865395 42845098 X 11092527 1174477 -14238445 -7719944 X X 0 1 X 1 0 0 1 0 4368485 2574355 1794130 1794130 INVESTMENT IN SUBSIDIARY 5003665 C 5003665 PENSION LIABILITY 2339513 2339513 X 26938631 1174477 1254970 2429447 24509184 40147 744217 784364 25293548 22391571 8974914 8974914 13416657 40147 744217 784364 14201021 PART X, LINE 2: ACORD ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD IS MET. MANAGEMENT DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD IN 2020 OR 2019. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUES FROM CONSOLIDATED ENTITY 1,638,202. CHANGE IN ACCRUED PENSION LIABILITY -383,232. PART XI, LINE 4B - OTHER ADJUSTMENTS: BANK FEES NETTED AGAINST INTEREST AND DIVIDENDS 140,367. ELIMINATIONS 603,850. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES FROM CONSOLIDATED ENTITY 8,804,697. LOSS ON RETIREMENT OF FIXED ASSETS 28,596. LOSS ON DISPOSAL OF SUBLEASE 141,621. PART XII, LINE 4B - OTHER ADJUSTMENTS: BANK FEES NETTED AGAINST INTEREST AND DIVIDENDS 140,367. ELIMINATIONS 603,850. EUROPE (INCLUDING ICELAND & GREENLAND) 1 10 PROGRAM SERVICES MEMBERSHIP SERVICES 2842939 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 1 CONSULTING 206331 1 11 0 0 1 11 3049270 0 3049270 0 0 0 0 0 0 PART III ACCOUNTING METHOD: X 1 1 X X X X 0 1 0 WILLIAM PIERONI PRESIDENT & CEO 1187586 0 775000 0 13621 0 239952 0 69093 0 2285252 0 0 0 TANYA KROCHTA SVP & CHIEF ADMINISTRATIVE OFFICER 233007 0 200000 0 12858 0 10125 0 71522 0 527512 0 0 0 BIJESH JACOB SENIOR VP, TECHNOLOGY & STANDARDS 232701 0 120000 0 9280 0 0 0 60188 0 422169 0 0 0 MARIA AUGUST SVP, STANDARDS & MEMBERSHIP 158578 0 70000 0 11926 0 10125 0 65416 0 316045 0 0 0 ANDREW ZUCKERMAN VP, GOVERNMENT AFFAIRS & GENERAL COU 151401 0 70000 0 11550 0 7650 0 63656 0 304257 0 0 0 DAVID STERNER VP, RESEARCH & DEVELOPMENT 182700 0 35000 0 10667 0 9000 0 63557 0 300924 0 0 0 HOWARD SCHUSTER VP, PMO 188700 0 20000 0 9616 0 0 0 60679 0 278995 0 0 0 RAKESH TANGRI CHIEF SOLUTIONS ARCHITECT 275000 0 0 0 630 0 0 0 1214 0 276844 0 0 0 PATRICK CORLESS VP CHIEF ENTERPRISE ARCHITECT - STAN 147918 0 35000 0 12847 0 0 0 44652 0 240417 0 0 0 LOTHAR RAUCH VP, STRATEGY & CORPORATE DEVELOPMENT 183656 0 25000 0 4050 0 0 0 22581 0 235287 0 0 0 PART I, LINE 4B THE FOLLOWING EMPLOYEES PARTICIPATED IN A 457(F) PLAN IN THEIR 2020 W2: 1. WILLIAM PIERONI, 210,327 NICOLAS PIERONI HAS A FAMILY RELATIONSHIP WITH WILLIAM PIERONI 20928 EMPLOYMENT 0 FORM 990, PART VI, SECTION A, LINE 6 THE FOLLOWING MAY BECOME REGULAR MEMBERS OF THE CORPORATION, AS DEFINED IN THE CERTIFICATE OF INCORPORATION, AND SHALL BE REFERRED TO IN THESE BYLAWS AS CORPORATE MEMBERS OF THE CORPORATION: - ANY ORGANIZATION ENGAGED IN THE BUSINESS OF UNDERWRITING, AND/OR SELLING, DISTRIBUTING OR OTHERWISE PROVIDING PROPERTY, CASUALTY, LIFE OR HEALTH INSURANCE, SURETY AND ANNUITIES, OR REINSURANCE; - ANY NON-INSURANCE FOR-PROFIT ORGANIZATION NOT ALSO QUALIFYING TO BE AN ORGANIZATION DESCRIBED IN SECTIONS 2A I OR 2A II OF BY-LAWS HEREOF, AND -ANY NOT-FOR-PROFIT TRADE ASSOCIATION REPRESENTING ORGANIZATIONS DESCRIBED IN SECTION 1A OR 1 B OF THE BY-LAWS, INCLUDING SUCH ORGANIZATIONS THAT MAY ALSO REPRESENT INDIVIDUALS. THE FOLLOWING MAY BECOME ASSOCIATE MEMBERS OF THE CORPORATION, AS DEFINED IN THE CERTIFICATE OF INCORPORATION, AND SHALL BE REFERRED TO IN THESE BYLAWS AS ASSOCIATE MEMBERS OF THE CORPORATION: - ANY ORGANIZATION WHOSE PRIMARY BUSINESS IS PROVIDING HARDWARE, SOFTWARE, TECHNOLOGY OR RELATED SERVICES; - ANY USER GROUP FORMED BY AN ORGANIZATION DESCRIBED IN SECTION 2A I OF BY-LAWS HEREOF OR ITS CUSTOMERS HAVING A COMMON INTEREST IN SPECIFIC PRODUCTS AND SERVICES PURCHASED FROM THAT ORGANIZATION; AND -THE GOVERNMENT OF THE UNITED STATES OR ANY SOVEREIGN NATION, ANY OF THEIR RESPECTIVE STATES OR POLITICAL SUBDIVISIONS, ANY REGIONAL AUTHORITY OF ANY OF THE FOREGOING, AND ANY AGENCY OR OTHER ORGANIZATION CREATED BY ANY OF THE FOREGOING. THE FOLLOWING SHALL BE ASSOCIATE MEMBERS OF THE CORPORATION, AS DEFINED IN THE CERTIFICATE OF INCORPORATION, AND SHALL BE REFERRED TO IN THESE BYLAWS AS SUBSCRIBER MEMBERS OF THE CORPORATION: - ANY ORGANIZATION WHICH, FOR DIRECT OR INDIRECT PAYMENT TO THE CORPORATION, SUBSCRIBES FOR SPECIFIC GOODS OR SERVICES UNDER A SUBSCRIBER PROGRAM APPROVED BY THE BOARD OF DIRECTORS OR A DESIGNATED COMMITTEE OF THE BOARD. EVERY MEMBER OF THE CORPORATION SHALL DESIGNATE A REPRESENTATIVE AND AN ALTERNATE TO REPRESENT IT IN REGARD TO CORPORATION MATTERS AND SHALL GIVE NOTICE IN WRITING OF SUCH DESIGNATION TO THE SECRETARY OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A BOARD OF DIRECTORS' APPROVAL OF INDIVIDUALS NOMINATED FOR BOARD MEMBERSHIP BY THE BOARD'S EXECUTIVE COMMITTEE IS SUBJECT TO ELECTION BY A PLURALITY VOTE OF ACORD MEMBERS ELIGIBLE TO VOTE ON SUCH MATTERS WHO ARE PRESENT AND VOTING IN PERSON OR BY PROXY AT THE MEETING AT WHICH THE NOMINEES ARE VOTED UPON. FORM 990, PART VI, SECTION A, LINE 7B BOARD OF DIRECTORS' APPROVAL OF AMENDMENTS TO ACORD'S BYLAWS IS SUBJECT TO A MAJORITY VOTE OF ACORD MEMBERS ELIGIBLE TO VOTE ON SUCH MATTERS WHO ARE PRESENT IN PERSON OR REPRESENTED BY PROXY AT ANY MEETING OF ACORD. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. AFTER THE FORM 990 HAS BEEN PREPARED THE ORGANIZATION PROVIDES A COPY TO THE AUDIT COMMITTEE FOR REVIEW AND ANY COMMENTS. ONCE ALL COMMENTS HAVE BEEN ADDRESSED THE RETURN IS SUBMITTED TO THE INTERNAL REVENUE SERVICE FOR FILING. THE 990 IS NOT REVIEWED BY THE ENTIRE BOARD BEFORE FILING WITH THE IRS BUT IS AVAILABLE TO BE POSTED ON THE BOARD'S WEBSITE IF NEEDED. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, THE ORGANIZATION'S DIRECTORS (REGARDING NON-TRANSACTION-SPECIFIC MATTERS), OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO RESPOND TO THE CONFLICT OF INTEREST DISCLOSURE POLICY AND DOCUMENTS ARE REVIEWED INITIALLY BY HOUSE COUNSEL FOR POSSIBLE REFERRAL TO THE PRESIDENT OF THE ORGANIZATION FOR FURTHER CONSIDERATION AND APPROPRIATE ACTION IF WARRANTED. CERTAIN RESPONSES, INCLUDING THOSE FROM NON-KEY-EMPLOYEE STAFF MEMBERS, MAY BE ADDRESSED IN THE FIRST INSTANCE DIRECTLY TO THE PRESIDENT OF THE ORGANIZATION OR BROUGHT TO THE ATTENTION OF THE HEAD OF THE HUMAN RESOURCES DEPARTMENT FOR CONSIDERATION AND POSSIBLE REFERRAL TO THE PRESIDENT OF THE ORGANIZATION FOR FURTHER CONSIDERATION AND APPROPRIATE ACTION IF WARRANTED. A DIRECTOR OR OFFICER DISCLOSING A POTENTIAL CONFLICT REGARDING A PARTICULAR TRANSACTION MAKES THE DISCLOSURE TO THE PRESIDENT OR CHAIRMAN OF THE BOARD OF DIRECTORS (CHAIR) THROUGH THE CORPORATE SECRETARY FOR DETERMINATION AS TO WHETHER THERE IS IN FACT A CONFLICT OR APPEARANCE OF A CONFLICT. IN THE CASE OF A DIRECTOR, IF IT IS DETERMINED THAT A CONFLICT OR APPARENT CONFLICT EXISTS REGARDING A PARTICULAR TRANSACTION, THE CONFLICT OR APPARENT CONFLICT IS REPORTED TO THE EXECUTIVE COMMITTEE OR THE FULL BOARD. IF THE PARTICULAR TRANSACTION REQUIRES A VOTE OF THE BOARD OR ONE OF ITS COMMITTEES, THE AFFECTED DIRECTOR DOES NOT VOTE ON THE MATTER. IN THE CASE OF AN OFFICER, IF IT IS DETERMINED THAT THERE IS IN FACT A CONFLICT REGARDING A PARTICULAR TRANSACTION, THE PRESIDENT OR CHAIR EXERCISES BEST JUDGMENT ON THE APPROPRIATE COURSE TO FOLLOW. THIS MAY INCLUDE APPROVING THE TRANSACTION IF THE PRESIDENT OR CHAIR IS REASONABLY CERTAIN THAT THE BEST INTERESTS OF THE ORGANIZATION WILL BE SERVED BY SUCH AN APPROACH; REFERRING THE ISSUE TO LEGAL COUNSEL FOR ADVICE; OR REFERRING THE ISSUE TO THE FULL BOARD OR APPROPRIATE BOARD COMMITTEE FOR DECISION. IN THE CASE OF A POTENTIAL CONFLICT REGARDING A PARTICULAR TRANSACTION INVOLVING EITHER THE PRESIDENT OR THE CHAIR, THE AFFECTED PARTY NOTIFIES THE OTHER THROUGH THE CORPORATE SECRETARY WITH THE CONFLICT THEN BEING REPORTED TO THE FULL BOARD. IF THE PARTICULAR TRANSACTION REQUIRES A VOTE OF THE BOARD OR ONE OF ITS COMMITTEES, THE PRESIDENT OR CHAIR DOES NOT VOTE ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 EVERY FEW YEARS THE HUMAN RESOURCE DEPARTMENT GENERATES A SALARY COMPARISON BY POSITION BASED UPON INFORMATION FROM THE US DEPARTMENT OF LABOR, OUTSIDE COMPANIES AND INTERNET RESEARCH REGARDING SIMILAR POSITIONS IN OTHER ORGANIZATIONS THE COMPANY WILL ALSO UTILIZE THE SERVICES OF INDEPENDENT CONSULTANTS TO PERFORM A COMPLETE SALARY REVIEW OF THE SENIOR MANAGEMENT TEAM AND OTHER OFFICERS AND EMPLOYEES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS OF THE CORPORATION ARE AVAILABLE ON THE COMPANY'S PUBLIC WEBSITE. ACORD DOES NOT MAKE THE CONFLICT OF INTEREST POLICY, THE FINANCIAL STATEMENTS, OR FORM 990 AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN ACCRUED PENSION LIABILITY TO BE RECOGNIZED IN FUTURE PERIODS -383,232. LOSS ON INVESTMENT IN SUBSIDIARY - CURRENT YEAR -7,166,495. LOSS ON RETIREMENT OF FIXED ASSETS -28,596. LOSS ON DISPOSAL OF SUBLEASE -141,621. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT IS RESPONSIBLE FOR SELECTING AN INDEPENDENT ACCOUNTANT AND FOR THE OVERSIGNT OF THE AUDIT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. FORM 990, PART XI, LINE 8 - PRIOR PERIOD ADJUSTMENT ADJUSTMENT MADE TO INVESTMENT IN SUBSIDIARY ACCOUNT TO AGREE TO SUBSIDIARY'S NET ASSETS AS OF 12/31/2020. -14,238,445 ACORD SOLUTIONS GROUP INC 1 BLUE HILL PLAZA PEARL RIVER NY 10965 812988120 INSURANCE RELATED SUPPORT NY ACORD CORPORATION C 1638202 6981477 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 0 0 ACORD SOLUTIONS GROUP N 390416 CASH ACORD SOLUTIONS GROUP O 330162 CASH RETURN FILING EXTENDED TO JANUARY 3, 2022ACORD CORPORATION HAS MADE A DECLARATION WITH THE IRS TO POSTPONE THE FILING OF ITS TAX RETURN TO ON OR BEFORE JANUARY 3, 2022 DUE TO THE EFFECTS OF HURRICANE IDA. THE IRS'S HURRICANE IDA TAX RELIEF POSTPONES VARIOUS TAX FILINGS AND PAYMENTS NORMALLY DUE AFTER SEPTEMBER 1, 2021 THROUGH JANUARY 3, 2022. AS SUCH, PLEASE ACCEPT OUR TAX RETURN AS BEING TIMELY FILED.