2022-11-15T07:37:13-06:00 2021-12-31 366055558 GRANT THORNTON LLP 757 THIRD AVE 4TH FLOOR NEW YORK NY 10017 990 2021-01-01 020571577 GLOBAL ASSOCIATION OF RISK PROFESSIONALS INC GLOB 2017197210 111 TOWN SQUARE PLACE 14TH FLR JERSEY CITY NJ 07310 RICHARD APOSTOLIK PRESIDENT & CEO 2017197210 2022-11-15 1 RICHARD APOSTOLIK XXX-XX-XXXX SCOTT THOMPSETT P00741490 2125990100 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z RICHARD APOSTOLIK 111 TOWN SQUARE PLACE 14TH FLR JERSEY CITY NJ 07310 66249447 0 X WWW.GARP.COM X 2002 NJ TO ADVANCE THE RISK PROFESSION THRU EDUCATION, TRAINING & THE PROMOTION OF BEST PRACTICES GLOBALLY. 14 13 117 16 17200 0 0 0 32365293 51233077 742524 3754041 172915 72447 33280732 55059565 17167 10500 0 0 22175039 22095314 0 0 0 23640718 25457248 45832924 47563062 -12552192 7496503 60089090 66882119 24325770 21897818 35763320 44984301 X THE GLOBAL ASSOCIATION OF RISK PROFESSIONALS (GARP) IS A NOT-FOR-PROFIT ORGANIZATION AND THE ONLY GLOBALLY RECOGNIZED MEMBERSHIP ASSOCIATION FOR RISK MANAGERS. GARP'S GOAL IS TO HELP CREATE A CULTURE OF RISK AWARENESS WITHIN ORGANIZATIONS, FROM ENTRY LEVEL TO BOARD LEVEL. IN THE AREAS OF FINANCIAL RISK MANAGEMENT, GARP SETS THE GLOBAL STANDARD IN PROFESSIONAL DESIGNATION WITH THE FRM (FINANCIAL RISK MANAGER) CERTIFICATION AND SCR (SUSTAINABILITY AND CLIMATE) CERTIFICATE. THROUGH OUR EDUCATIONAL PROGRAMS, SPECIALIZED CONTENT, IN-PERSON OR ONLINE EVENTS, AND CHAPTER PROGRAM, GARP PROMOTES BEST PRACTICES IN RISK MANAGEMENT AND SUPPORTS ONGOING PROFESSIONAL AND CAREER DEVELOPMENT FOR RISK MANAGERS. 0 0 SEE SCHEDULE OPROFESSIONAL CERTIFICATION & EDUCATIONAL PROGRAMS CERTIFICATION: GARP SETS THE GLOBAL STANDARD IN PROFESSIONAL CERTIFICATION WITH THE FRM (FINANCIAL RISK MANAGER) CERTIFICATION AND THE SCR (SUSTAINABILITY AND CLIMATE RISK) CERTIFICATE. IT OFFERS THESE EXAMS ANNUALLY. THESE PROGRAMS ARE RIGOROUS AND VERY WELL RESPECTED ACROSS THE GLOBE. BY DEMONSTRATING EXPERTISE AND COMMITMENT TO BETTER RISK MANAGEMENT PRACTICES, CERTIFIED FRMS AND SCR HOLDERS STAND APART IN THEIR RESPECTIVE ORGANIZATIONS. EDUCATION AND AWARENESS: EVERYONE HAS AN IMPORTANT ROLE TO PLAY IN SUPPORTING A ROBUST RISK CULTURE. WHETHER IT IS EDUCATING AN ENTERPRISE, OR EDUCATING FINANCIAL PROFESSIONALS ACROSS AN ENTIRE COUNTRY, GARP PARTNERS WITH FIRMS AND CENTRAL BANKS TO DELIVER FOUNDATIONAL AND ADVANCED RISK AWARENESS PROGRAMS. THROUGH THESE PROGRAMS WE HAVE ENABLED TENS OF THOUSANDS OF FINANCE PROFESSIONALS GLOBALLY TO PROMOTE A RISK-AWARE CULTURE. SEE SCHEDULE OBENCHMARKING INITIATIVE AND RISK INTELLIGENCE GARP BENCHMARKING INITIATIVE (GBI): IN THIS TIME OF INCREASING ECONOMIC GLOBALIZATION AND MARKET INTERCONNECTEDNESS, THE CAUSES OF AND APPROACHES TO DEALING WITH GLOBAL SYSTEMIC RISK ISSUES ARE OF IMMENSE IMPORTANCE. BANKS AS WELL AS THEIR REGULATORS ARE IN NEED OF WAYS TO APPROPRIATELY DEVELOP, IMPLEMENT AND ANALYZE STUDIES TO TEST AND BENCHMARK BANK RISK SYSTEMS AND APPROACHES. GBI IS PLAYING A MAJOR AND GLOBALLY UNIQUE ROLE IN ANALYZING THE PROCESSES RELATED TO HYPOTHETICAL PORTFOLIO EXERCISES, QUANTITATIVE IMPACT STUDIES, AND OTHER MUCH NEEDED BENCHMARKING ACTIVITIES.RISK INTELLIGENCE: KEEPING UP WITH THE EVER-EVOLVING RISK LANDSCAPE IS CHALLENGING, BUT ESSENTIAL FOR RISK PROFESSIONALS AND THE INDUSTRY TO COLLECTIVELY SAFEGUARD THE WORLD'S FINANCIAL MARKETS. GARP DELIVERS CRITICAL RISK INTELLIGENCE: INDUSTRY SURVEYS, SPECIAL REPORTS, NEWS, ANALYSIS, WHITEPAPERS, WEBINARS AND MORE, TO ENSURE THAT THE COMMUNITY HAS THE VERY LATEST INTELLIGENCE TO DRIVE INFORMED DECISION MAKING. ANNUAL CONFERENCE: THE ORGANIZATION OFFERS AN ANNUAL CONFERENCE IN ADDITION TO OCCASIONAL SEMINARS AND OTHER EVENT PROGRAMS, OFFERS DISCOUNTS ON GARP AND OTHER THIRD-PARTY PUBLICATIONS, A MEMBERSHIP PROGRAM, AND OFFERS ACCESS TO A CAREER CENTER TO POST RESUMES AND SEARCH FOR JOB OPPORTUNITIES. CONNECTING THE RISK LEADERSHIP AND THE GLOBAL RISK COMMUNITY: ADDRESSING RISK IS A TEAM EFFORT, AND WITH OVER 260,000 MEMBERS IN 195 COUNTRIES AND TERRITORIES - GARP MEMBERS ARE MAKING A DIFFERENCE. GARP MEMBERSHIP PROVIDES THE COMMUNITY WITH ENGAGEMENT OPPORTUNITIES TO HAVE A VOICE IN INDUSTRY RESEARCH, UNPARALLELED NETWORKING OPPORTUNITIES, ACCESS TO RISK INTELLIGENCE, AND MUCH, MUCH MORE. OUR CONVENTIONS, TOGETHER WITH 51 CHAPTER DIRECTORS REPRESENTING 28 CHAPTERS IN MORE THAN A DOZEN COUNTRIES AROUND THE WORLD, GIVE THE COMMUNITY THE OPPORTUNITY TO MEET AND LEARN FROM ONE ANOTHER. ADDITIONALLY, OUR CONTINUING PROFESSIONAL DEVELOPMENT (CPD) PROGRAM OFFERS RISK PROFESSIONALS ACCESS TO THE VERY LATEST IN RISK EDUCATION, PAVING THE WAY FOR A CLEAR VIEW OF THE RISK HORIZON.ONGOING DIALOG BETWEEN REGULATORS, PRACTITIONERS AND LEADING ACADEMIC EXPERTS IS CRITICAL TO HELP BETTER UNDERSTAND AND SOLVE FOR THE EVER-INCREASING NUMBER OF FINANCIAL AND OPERATIONAL RISK CHALLENGES FACING THE WORLD'S MARKETS TODAY. IT'S IMPORTANT FOR THIS KIND OF DIALOG TO BE OPEN, OBJECTIVE AND NOT MOTIVATED BY PARTISAN AGENDA. WE FACILITATE OBJECTIVE AND NON-PARTISAN DIALOGUE THROUGH REGULARLY HOSTING GLOBAL RISK FORUMS WHERE REGULATORS, PRACTITIONERS, AND LEADING ACADEMICS COLLECTIVELY AND COLLABORATIVELY ADDRESS IMPORTANT RISK ISSUES. 0 0 0 1 0 0 0 0 0 1 0 0 0 1 1 0 1 0 1 1 0 1 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 74 0 1 117 1 1 1 1 UK HK CH 0 0 0 0 1 0 X 14 13 0 0 0 0 1 1 0 1 1 0 0 1 1 1 0 1 0 1 0 0 X PRISCELLA CERVANTES 2017197259 111 TOWN SQUARE PLACE 14 FL JERSEY CITY NJ 07310 X RICHARD APOSTOLIK PRESIDENT & CEO 60.00 0.00 X X 1950095 0 49182 BRADFORD HU CHAIRMAN 1.00 0.00 X X 0 0 0 BEN GOLUB TRUSTEE 1.00 0.00 X 0 0 0 ANDREW GRAY TRUSTEE 1.00 0.00 X 0 0 0 GEOFFREY GREENER TRUSTEE 1.00 0.00 X 0 0 0 ANDREW KURITZKES TRUSTEE 1.00 0.00 X 0 0 0 STUART LEWIS TRUSTEE 1.00 0.00 X 0 0 0 JACQUES LONGERSTAEY TRUSTEE 1.00 0.00 X 0 0 0 WILLIAM MARTIN TRUSTEE (THRU 4/2021) 40.00 0.00 X 0 0 0 MICHELLE MCCARTHY TRUSTEE (THRU 1/2021) 1.00 0.00 X 0 0 0 VICTOR NG TRUSTEE 1.00 0.00 X 0 0 0 LEWIS O'DONALD TRUSTEE 1.00 0.00 X 0 0 0 ALESSA QUANE TRUSTEE 1.00 0.00 X 0 0 0 FRANK RONCEY TRUSTEE 1.00 0.00 X 0 0 0 ALAN SMITH TRUSTEE 1.00 0.00 X 0 0 0 JONATHAN STEIN TRUSTEE (THRU 3/2021) 1.00 0.00 X 0 0 0 PETER TUFANO TRUSTEE 1.00 0.00 X 0 0 0 PRISCELLA CERVANTES CFO / CAO 40.00 0.00 X 649861 0 65091 CHRISTOPHER J DONOHUE MANAGING DIRECTOR 50.00 0.00 X 1022522 0 60501 JEFFREY MAH CIO 40.00 0.00 X 359922 0 45090 LILY PAN MANAGING DIRECTOR 40.00 0.00 X 270095 0 36996 JOANNA PAISLEY CO PRESIDENT GRI 40.00 0.00 X 831016 0 0 WILLIAM HENRY MAY SVP, GLOBAL HEAD OF RESEARCH 40.00 0.00 X 534983 0 62051 RACHEL LERNER GENERAL COUNSEL 40.00 0.00 X 509061 0 59696 MICHAEL WILLIAM SELL HEAD OF BUSINESS DEVELOPMENT 40.00 0.00 X 395576 0 56312 MARK STEVEN CAREY CO PRESIDENT GRI (THRU 8/2021) 40.00 0.00 X 527725 0 18300 7050856 0 453219 47 0 1 0 BEIJING ZHONG CHENG YU DA EDUCATION RM E101/E102 XIAMEN BLDG NO 46 BEIJING CH RISK PROGRAM 2160021 GENISIS TECHNOLOGY SOLUTIONS INC 856 US-206 HILLSBOROUGH NJ 08844 IT SERVICES 350463 KEYRUS USA INC 252 WEST 37TH STREET NY NY 10018 IT SERVICES 203699 MARK WALLACE RISK SERVICES RAINSTRASSE 11C PFAFFIKON SZ RISK PROGRAM 192000 GRANT THORNTON LLP 757 3RD AVENUE 9TH FLOOR NY NY 10017 AUDITING 131918 14 EXAMS AND COURSE MATERIALS 900099 48171405 48171405 MEMBERSHIP DUES 900099 1990806 1990806 COUNTRY SPECIFIC PROGRAMS 900099 771184 771184 INSTRUCTIONAL SEMINARS 900099 209349 209349 WEB SEMINAR 900099 90333 90333 51233077 1376569 1376569 5113 5113 13567354 11189882 2377472 2377472 2377472 NEWSLETTER INCOME 900099 22001 22001 BANNER AD INCOME 900099 17200 17200 INFORMATION EXC 900099 17000 17000 11133 11133 67334 55059565 51250077 17200 3792288 1000 9500 4508905 15024608 569000 1992801 404466 241325 17952 885979 3402433 539490 2217169 98053 1940563 35749 11925 2150538 EXAM COSTS 11206751 PAYROLL SERVICE FEE 1257716 EDUCATIONAL CONTENT AND 509568 SEMINAR COSTS 329084 208487 47563062 1539573 2606357 5954933 7119739 383036 613056 1871385 1493507 14578340 9420250 6172564 5158090 42437591 47990677 1220521 1396521 509487 504172 60089090 66882119 9035610 9250516 13711272 10156205 1578888 2491097 24325770 21897818 X 35763320 44984301 35763320 44984301 60089090 66882119 X 7496503 1805067 -80589 X 0 1 X 1 0 1 1 0 SCHEDULE C THE ORGANIZATION DID NOT ENGAGE IN ANY LOBBYING ACTIVITIES DURING 2021. 8439184 3671464 4767720 6139156 5748786 390370 5158090 DEFERRED RENT 2491097 2491097 X 56784043 1805067 -80589 1724478 55059565 0 55059565 47563062 0 47563062 0 47563062 PART X, LINE 2: FIN48 THE ASSOCIATION FOLLOWS THE PROVISIONS OF ASC 740, INCOME TAXES. ASC 740-10 CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THESE REQUIREMENTS STIPULATE THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS ONLY IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE ASSOCIATION IS EXEMPT FROM FEDERAL INCOME TAXATION BY VIRTUE OF BEING AN ORGANIZATION DESCRIBED IN SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE ("CODE"). NEVERTHELESS, THE ASSOCIATION MAY BE SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. THE ASSOCIATION RECORDED TAX PROVISIONS OF $192,308 AND $193,452 FOR THE YEARS ENDED DECEMBER 31, 2021 AND 2020, RESPECTIVELY, RESULTING FROM UNRELATED BUSINESS INCOME ACTIVITIES CONDUCTED BY THE ASSOCIATION AND FROM CERTAIN EXCISE TAXES ASSESSED ON EXECUTIVE COMPENSATION UNDER SECTION 4960 OF THE CODE. AS OF DECEMBER 31, 2021, MANAGEMENT HAS DETERMINED THAT THERE ARE NO OTHER SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION OR DISCLOSURE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FOREIGN CURRENCY UNREALIZED LOSS -80,589. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES FRM/ERP EXAM 10510 EAST ASIA AND THE PACIFIC 1 2 PROGRAM SERVICES FRM/ERP EXAM 7716012 EUROPE (INCLUDING ICELAND & GREENLAND) 1 6 PROGRAM SERVICES FRM/ERP EXAM 1023403 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES FRM/ERP EXAM 142340 NORTH AMERICA 0 0 PROGRAM SERVICES FRM/ERP EXAM 501339 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES FRM/ERP EXAM 47697 SOUTH AMERICA 0 0 PROGRAM SERVICES FRM/ERP EXAM 52316 SOUTH ASIA 0 0 PROGRAM SERVICES FRM/ERP EXAM 2006539 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES FRM/ERP EXAM 174044 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTMAKING RESEARCH GRANT 6000 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING RESEARCH GRANT 3500 2 8 0 0 2 8 11500156 183544 11683700 0 0 RESEARCH GRANT EUROPE (INCLUDING ICELAND & GREENLAND) 6 6000 WIRE RESEARCH GRANT EAST ASIA AND THE PACIFIC 2 3500 WIRE 0 0 0 0 0 1 PART I, LINE 2: MONITORING OF FUNDS: EVERY YEAR SINCE 2007, GARP HAS ISSUED A CALL FOR RESEARCH PROPOSALS TO AWARD FUNDING AS A PART OF THE GARP RISK MANAGEMENT RESEARCH PROGRAM. RESEARCH PROJECTS ARE SELECTED FOR FUNDING BY A RESEARCH COMMITTEE OF RISK MANAGEMENT PRACTITIONERS, ACADEMICS AND RESEARCHERS. THE RESEARCH COMMITTEE SEEKS TO PROVIDE FUNDING FOR: 1. PROJECTS OFFERING UNIQUE APPROACHES AND INSIGHTS INTO PROBLEMS OF SIGNIFICANCE TO RISK MANAGEMENT PROFESSIONALS; 2. PROJECTS OF PARTICULAR RELEVANCE TO CURRENT GLOBAL FINANCIAL RISK MANAGEMENT ISSUES AND NEEDS; AND 3. PROJECTS WITH SIGNIFICANT POTENTIAL FOR BRIDGING THE GAP BETWEEN THEORY AND PRACTICE. UPON COMPLETION, THE AUTHORS PRESENT THEIR PAPER AT A GARP EVENT. GRANTS ARE PAID OUT ONLY AFTER SUBMISSION OF THE RESEARCH PAPERS. NO FURTHER MONITORING IS REQUIRED (ONCE THE PAPERS ARE WRITTEN AND THE CASH DISBURSED). PART III ACCOUNTING METHOD: ACCOUNTING METHOD USED: PART I, LINE 3, COLUMN (F) AND PART III, LINE 1, COLUMN (D) THE EXPENDITURES, PER REGION, ARE PRESENTED ON THE ACCRUAL BASIS OF ACCOUNTING. X X X 0 0 0 RICHARD APOSTOLIK PRESIDENT & CEO 900095 0 1050000 0 0 0 14500 0 34682 0 1999277 0 0 0 CHRISTOPHER J DONOHUE MANAGING DIRECTOR 572522 0 450000 0 0 0 14500 0 46001 0 1083023 0 0 0 JOANNA PAISLEY CO PRESIDENT GRI 418361 0 412655 0 0 0 0 0 0 0 831016 0 0 0 PRISCELLA CERVANTES CFO / CAO 374861 0 275000 0 0 0 14500 0 50591 0 714952 0 0 0 WILLIAM HENRY MAY SVP, GLOBAL HEAD OF RESEARCH 249983 0 285000 0 0 0 14500 0 47551 0 597034 0 0 0 RACHEL LERNER GENERAL COUNSEL 324061 0 185000 0 0 0 11696 0 48000 0 568757 0 0 0 MARK STEVEN CAREY CO PRESIDENT GRI (THRU 8/2021) 227725 0 300000 0 0 0 14500 0 3800 0 546025 0 0 0 MICHAEL WILLIAM SELL HEAD OF BUSINESS DEVELOPMENT 210576 0 185000 0 0 0 10750 0 45562 0 451888 0 0 0 JEFFREY MAH CIO 249922 0 110000 0 0 0 12000 0 33090 0 405012 0 0 0 LILY PAN MANAGING DIRECTOR 180095 0 90000 0 0 0 13504 0 23492 0 307091 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 MEMBERS: THE ORGANIZATION HAS VARIOUS LEVELS OF DUES PAYING MEMBERS. MEMBERS INCLUDE EMPLOYEES OF MANY FIRMS OPERATING WITHIN THE FINANCIAL INDUSTRY. FORM 990, PART VI, SECTION A, LINE 7A MEMBER RIGHTS: PURSUANT TO THE ASSOCIATION'S ORGANIZING DOCUMENTS, (ARTICLE VI, SECTION 4(H)), THE ASSOCIATION'S MEMBERS ARE AUTHORIZED TO ELECT MEMBERS TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B REVIEW OF FORM 990: THE FORM 990 IS PREPARED BY AN OUTSIDE ACCOUNTING FIRM, GRANT THORNTON, LLP, IN CONJUNCTION WITH THE ASSOCIATION'S FINANCIAL DEPARTMENT. UPON COMPLETION, THE 990 IS REVIEWED BY THE PRESIDENT AND CFO BEFORE DISTRIBUTION TO THE CHAIRMAN OF THE BOARD OF TRUSTEES AND THE COMPENSATION COMMITTEE. THE FINAL FORM 990 IS MADE AVAILABLE TO THE ENTIRE BOARD OF TRUSTEES VIA EMAIL. FORM 990, PART VI, SECTION B, LINE 12 CONFLICT OF INTEREST POLICY MONITORING AND ENFORCEMENT: THE ASSOCIATION HAS A CONFLICT OF INTERESTS POLICY IN PLACE THAT IS USED TO IDENTIFY RELATIONSHIPS BETWEEN GARP AND ITS BOARD MEMBERS AND/OR OFFICERS. THERE IS NO FORMAL PROCEDURE IN PLACE TO MONITOR CONFLICTS OF INTEREST; NEVERTHELESS, EACH BOARD MEMBER AND OFFICER IS REQUIRED TO ANNUALLY SIGN-OFF ON THE CONFLICT OF INTEREST POLICY AND DISCLOSE ANY CONFLICTS, IF THEY EXIST. THE ORGANIZATION REVIEWS THE CONFLICT OF INTEREST POLICY ANNUALLY AT A MEETING OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15A PROCESS FOR DETERMINING COMPENSATION: THE BOARD DETERMINES THE PRESIDENT'S SALARY VIA A COMPARISON TO OTHER FINANCIAL SERVICES NOT-FOR-PROFIT ORGANIZATIONS, THEIR PRESIDENT'S COMPENSATION AND A WIDE VARIETY OF OTHER FACTORS TO ENSURE THE COMPENSATION IS MARKET BASED AND CONSIDERS THE UNIQUE CHARACTERISTICS AND ACTIVITIES OF GARP. EMPLOYEES' SALARIES AND BONUSES ARE DETERMINED BY THE PRESIDENT BASED ON MARKET RATES FOR SPECIFIC POSITIONS. THE PRESIDENT'S SALARY AND BONUS ARE DETERMINED AND APPROVED BY THE COMPENSATION COMMITTEE ON BEHALF OF THE BOARD OF TRUSTEES. SALARIES AND BONUSES OF THE PRESIDENT'S DIRECT REPORTS ARE DETERMINED BY THE PRESIDENT BASED ON MARKET RATES FOR SPECIFIC POSITIONS AND RECOMMENDED TO THE COMPENSATION COMMITTEE FOR THEIR REVIEW AND APPROVAL. THE INDIVIDUALS THAT MAKE UP THE COMPENSATION COMMITTEE ARE ALL INDEPENDENT PRACTITIONERS IN THE FINANCIAL SERVICES INDUSTRY WHO HAVE FIRST-HAND EXPERIENCE IN COMPENSATING LARGE GROUPS OF PROFESSIONALS. THIS EXPERIENCE AND KNOWLEDGE OF THE INDUSTRY ASSISTS THE COMMITTEE TO DETERMINE REASONABLE AND APPROPRIATE COMPENSATION FOR THE PRESIDENT AND HIS DIRECT REPORTS. FORM 990, PART VI, SECTION C, LINE 19 DISCLOSURE OF DOCUMENTS: THE ASSOCIATION'S FORM 990 IS AVAILABLE AT ITS MAIN PLACE OF BUSINESS AND ON THE INTERNET AT WWW.GUIDESTAR.ORG. THE ASSOCIATION MAKES ITS CONFLICT OF INTEREST POLICY, ITS ORGANIZING DOCUMENTS AND ITS FINANCIAL STATEMENTS AVAILABLE ON ITS WEBSITE, WWW.GARP.COM. FORM 990, PART VII: THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN PART VII, COLUMN F AND NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. FORM 990, PART VII, LINE 5, PART V, LINE 2B AND PART IX, LINES 10 & 24B: FEDERAL EMPLOYMENT TAX FILINGS AND PAYROLL TAXES EXPENSE: GARP USES THE SERVICES OF A PROFESSIONAL EMPLOYER ORGANIZATION (PEO). THE PEO LEASES EMPLOYEES TO GARP AND COVERS ALL HUMAN RESOURCES AND PAYROLL FUNCTIONS. W-2S AND ALL EMPLOYMENT TAX RETURNS ARE FILED BY THE PEO INCLUDED IN THE OVERALL FEE THAT GARP PAYS TO THE PEO IS THE AMOUNT FOR ALL RELEVANT PAYROLL TAXES. THIS TOTAL FEE IS SHOWN AS ONE NUMBER ON FORM 990, AS A PAYROLL SERVICE FEE, ON LINE 24B. GENERAL STATEMENT REGARDING THE COVID-19 PANDEMIC: IN MARCH 2020, THE WORLD HEALTH ORGANIZATION DECLARED COVID-19 A PANDEMIC RESULTING IN FEDERAL, STATE AND LOCAL GOVERNMENTS MANDATING VARIOUS RESTRICTIONS, INCLUDING TRAVEL RESTRICTIONS, RESTRICTIONS ON PUBLIC GATHERINGS, AND STAY AT HOME ORDERS. AS A RESULT, THE ASSOCIATION HAD TO POSTPONE MANY EXAMS DURING 2020 AND DEFER THEM INTO 2021. TO ACCOMMODATE CANDIDATES WHO WERE UNABLE TO SIT IN 2020, TWO ADDITIONAL EXAM CYCLES (JANUARY AND JULY) WERE ADDED IN 2021. THIS RESULTED IN AN INCREASE OF EXAM REVENUE AND A DECREASE TO DEFERRED REVENUE. FORM 990, PART XI, LINE 9: FOREIGN CURRENCY UNREALIZED LOSS -80,589. GARP RISK ACADEMY LLC 111 TOWN SQUARE PLACE 14TH FL JERSEY CITY NJ 07310 203453938 CERTIFICATES NJ 936745 4250249 GARP GARP-UK LTD (UK TAX REF #6801977815814) 17 DEVONSHIRE SQUARE 4TH FL LONDON UK SUPPORTS GARP UK 2782419 1860509 GARP GARP HK LIMITED (HK TAX REF #38379370000090) THE CENTER 99 QUEENS ROAD CENTRAL CENTRAL HK SUPPORTS GARP HK 921477 620531 GARP GARP SG PTE LTD (SN TAX REF #202003118M) OUE DOWNTOWN 6 SHENTON WAY 38-01 SHENTON SN 068809 SUPPORTS GARP SN -98 7409 GARP FINANCIAL CRIME AND INTELLIGENCE INSIGHTS INC 111 TOWN SQUARE PLACE 14TH FLR JERSEY CITY NJ 07310 873927948 FINANCIAL SECURITY DE GARP C 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PART I, IDENTIFICATION OF DISREGARDED ENTITES DUE TO SPACE LIMITATIONS ON THE FACE OF SCHEDULE R, THE ASSOCIATION IS PROVIDING THE FOLLOWING INFORMATION ABOUT EACH DISREGARDED ENTITY'S PRINCIPAL BUSINESS ACTIVITY. 1. GARP RISK ACADEMY, LLC OFFERS ALL CERTIFICATES EXCEPT FRM. 2. GARP-UK LTD A SERVICE COMPANY THAT SUPPORTS GARP US' ACTIVITIES. 3. GARP HK LIMITED TO DEVELOP GARP CERTIFICATION AND RISK EDUCATION BUSINESS IN ASIA. 4. GARP SG PTE. LTD. BUSINESS SUPPORT & MARKETING SERVICES TO HEAD OFFICE & BUSINESS DEVELOPMENT