2022-11-14T10:53:33-06:00 2021-12-31 521392008 GELMAN ROSENBERG & FREEDMAN 4550 MONTGOMERY AVE SUITE 800N BETHESDA MD 208142930 990 2021-01-01 521295453 AMERICAN BANKRUPTCY INSTITUTE AMER 7037390800 66 CANAL CENTER PLAZA 600 ALEXANDRIA VA 22314 AMY QUACKENBOSS EXECUTIVE DIRECTOR 7037390800 2022-11-14 1 AMY QUACKENBOSS 999009999 RICHARD J LOCASTRO CPA P00288314 3019519090 3 AAL1 IAL1 2021 2022-09-23 18:48:47Z AMY QUACKENBOSS 66 CANAL CENTER PLAZA 600 ALEXANDRIA VA 22314 11213347 0 X WWW.ABIWORLD.ORG X 1982 VA SEE PART III, LINE 1. 60 60 36 1000 686372 0 270542 1785571 5705054 7753041 462257 213792 329216 367642 6767069 10120046 3250 57125 0 0 4118568 3874035 0 0 77376 2956300 3770263 7078118 7701423 -311049 2418623 21045850 21751145 7256761 5270181 13789089 16480964 X THE AMERICAN BANKRUPTCY INSTITUTE IS THE NATION'S LARGEST ASSOCIATION OF BANKRUPTCY PROFESSIONALS, MADE UP OF OVER 10,000 MEMBERS IN MULTI-DISCIPLINARY ROLES, INCLUDING ATTORNEYS, AUCTIONEERS, BANKERS, JUDGES, LENDERS, PROFESSORS, TURNAROUND SPECIALISTS, ACCOUNTANTS AND OTHERS. ABI IS COMMITTED TO SERVING OUR MEMBERS WITH HIGH-QUALITY CONFERENCES, COMPREHENSIVE CONTINUING EDUCATION, EFFECTIVE LEGAL RESEARCH, AND DYNAMIC NETWORKING OPPORTUNITIES. 0 0 3068714 3795232 CONFERENCES AND MEETINGS: ABI HOLDS TWO NATIONAL MEMBERSHIP MEETINGS AND MANY REGIONAL CONFERENCES THROUGHOUT THE YEAR. THESE MEETINGS OFFER A CONCENTRATED OPPORTUNITY FOR THE EXCHANGE OF IDEAS, DISCUSSIONS OF FINDINGS AMONG COLLEAGUES, AND CONTINUING LEGAL EDUCATION. 2049556 972838 PUBLICATIONS AND OTHER SALES: ABI PRODUCES VARIOUS PUBLICATIONS AND JOURNALS THAT REPRESENT ITS COMMITMENT TO THE ONGOING ENHANCEMENT OF QUALITY EDUCATION ON INSOLVENCY TOPICS. ADDITIONALLY, ABI MAINTAINS A COMPREHENSIVE INTERNET SITE COVERING INSOLVENCY ISSUES AND PROVIDING INSTANT UPDATES ON LEGISLATION, NEW FILINGS, SUPREME COURT CASES, BANKRUPTCY FILING STATISTICS, AND DAILY BANKRUPTCY NEWS. 809132 2984971 MEMBERSHIP SERVICES: ABI PROVIDES ONGOING SERVICES TO ITS MEMBERS IN ORDER TO PROVIDE A BROAD, IN-DEPTH RESOURCE OF INSOLVENCY ISSUES AND RELATED SERVICES. 87091 57125 RESEARCH PROJECTS AND GRANTS: ABI PROVIDES FUNDING AND SCHOLARSHIPS TO ENHANCE BANKRUPTCY RESEARCH AND EDUCATION. 87091 57125 6014493 1 1 0 0 0 0 0 0 0 1 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 31 0 1 36 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 60 60 1 0 1 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AL AR CA GA HI IL KS MA MI MN NH NJ NM NY NC OR PA RI SC TN UT VA WI MS X AMY QUACKENBOSS 7037390800 66 CANAL CENTER PLAZA 600 ALEXANDRIA VA 22314 BARBARA J HOUSER CHAIRMAN 5.00 X X 0 0 0 ROBERT P REYNOLDS IMMEDIATE PAST PRESIDENT 5.00 X X 0 0 0 KEVIN J CAREY PRESIDENT 5.00 X X 0 0 0 SONEET R KAPILA PRESIDENT-ELECT 5.00 X X 0 0 0 BRUCE A HARWOOD VP - COMM & IT 5.00 X X 0 0 0 EVE H KARASIK VP - DIVERSITY & INCLUSION 5.00 X X 0 0 0 STEPHEN D LERNER VP - INTERNATIONAL 5.00 X X 0 0 0 JERRY M MARKOWITZ VP - MEMBERSHIP 5.00 X X 0 0 0 PAUL D LEAKE VP - PUBLICATIONS 5.00 X X 0 0 0 MICHELLE M HARNER VP - RESEARCH/GRANTS 5.00 X X 0 0 0 CHRISTOPHER A WARD VP - DEVELOPMENT 5.00 X X 0 0 0 DOUGLAS L LUTZ VP - EDUCATION 5.00 X X 0 0 0 ERIC W ANDERSON DIRECTOR 1.00 X 0 0 0 JANET S BAER DIRECTOR 1.00 X 0 0 0 ALANE A BECKET DIRECTOR 1.00 X 0 0 0 STEVEN M BERMAN DIRECTOR 1.00 X 0 0 0 MICHAEL L BERNSTEIN DIRECTOR 1.00 X 0 0 0 HANNAH L BLUMENSTIEL DIRECTOR 1.00 X 0 0 0 JASON S BROOKNER DIRECTOR 1.00 X 0 0 0 DAWN M CICA DIRECTOR 1.00 X 0 0 0 PATRICK A CLISHAM DIRECTOR 1.00 X 0 0 0 DANIEL P COLLINS DIRECTOR 1.00 X 0 0 0 H DAVID COX DIRECTOR 1.00 X 0 0 0 PAUL H DEUTCH DIRECTOR (UNTIL 04/2021) 1.00 X 0 0 0 ROBERT D DRAIN DIRECTOR 1.00 X 0 0 0 MICHAEL A FAGONE DIRECTOR 1.00 X 0 0 0 DOUGLAS M FOLEY DIRECTOR 1.00 X 0 0 0 ERIC J FROMME DIRECTOR 1.00 X 0 0 0 EDWARD T GAVIN DIRECTOR (UNTIL 04/2021) 1.00 X 0 0 0 JOHN T GREGG DIRECTOR (FROM 04/2021) 1.00 X 0 0 0 LISA S GRETCHKO DIRECTOR 1.00 X 0 0 0 PAUL R HAGE DIRECTOR 1.00 X 0 0 0 WILLIAM H HENRICH DIRECTOR 1.00 X 0 0 0 ARIANE HOLTSCHLAG DIRECTOR (FROM 04/2021) 1.00 X 0 0 0 THOMAS M HORAN DIRECTOR 1.00 X 0 0 0 JAMES ROBERT IRVING DIRECTOR (FROM 04/2021) 1.00 X 0 0 0 ERIC L JOHNSON DIRECTOR 1.00 X 0 0 0 ERICKA F JOHNSON DIRECTOR 1.00 X 0 0 0 SHANTI M KATONA DIRECTOR (FROM 04/2021) 1.00 X 0 0 0 JENNIFER B KIMBLE DIRECTOR 1.00 X 0 0 0 SUZANNE KOENIG DIRECTOR (FROM 04/2021) 1.00 X 0 0 0 TERESA C KOHL DIRECTOR (UNTIL 04/2021) 1.00 X 0 0 0 RICHARD S LAUTER DIRECTOR (UNTIL 04/2021) 1.00 X 0 0 0 FRANKLIND DAVIS LEA DIRECTOR 1.00 X 0 0 0 DAVID P LEIBOWITZ DIRECTOR (UNTIL 04/2021) 1.00 X 0 0 0 JOHN W LUCAS DIRECTOR 1.00 X 0 0 0 ERIC D MADDEN DIRECTOR 1.00 X 0 0 0 JENNIFER M MCLEMORE DIRECTOR 1.00 X 0 0 0 JENNIFER M MEYEROWITZ DIRECTOR 1.00 X 0 0 0 ERIKA LYNN MORABITO DIRECTOR 1.00 X 0 0 0 DEIRDRE A O'CONNOR DIRECTOR 1.00 X 0 0 0 VICTOR OWENS DIRECTOR 1.00 X 0 0 0 JAMES A PEKO DIRECTOR 1.00 X 0 0 0 JEFFREY M REISNER DIRECTOR 1.00 X 0 0 0 BRADLEY D SHARP DIRECTOR 1.00 X 0 0 0 WILLIAM K SNYDER DIRECTOR (FROM 04/2021) 1.00 X 0 0 0 STEPHEN ALEXANDER SPITZER DIRECTOR 1.00 X 0 0 0 WILLIAM S SUGDEN DIRECTOR 1.00 X 0 0 0 ANNEROSE TASHIRO DIRECTOR 1.00 X 0 0 0 JAMES E VAN HORN DIRECTOR 1.00 X 0 0 0 ERIC E WALKER DIRECTOR 1.00 X 0 0 0 ADRIENNE K WALKER DIRECTOR 1.00 X 0 0 0 EUGENE R WEDOFF DIRECTOR (UNTIL 04/2021) 1.00 X 0 0 0 NANCY J WHALEY DIRECTOR (FROM 04/2021) 1.00 X 0 0 0 DONALD A WORKMAN DIRECTOR 1.00 X 0 0 0 CLIFFORD A ZUCKER DIRECTOR 1.00 X 0 0 0 AMY A QUACKENBOSS EXECUTIVE DIRECTOR 40.00 X 295832 0 19382 KARIM GUIRGUIS CHIEF OPERATING OFFICER 40.00 X 215500 0 16992 SATISH KODALI SOFTWARE ENGINEER 40.00 X 164166 0 10079 CHRIS THACKSTON DIRECTOR OF MEMBERSHIP 40.00 X 169469 0 14195 JENNIFER GUIRGUIS CONFERENCE DIRECTOR 40.00 X 165344 0 12621 JOHN HARTGEN PUBLIC AFFAIRS OFFICER 40.00 X 148120 0 22147 JAMES CARMAN DIRECTOR OF COMMUNICATIONS 40.00 X 152751 0 14632 WILLIAM ROCHELLE EDITOR AT LARGE 40.00 X 125000 0 10533 SAMUEL GERDANO FORMER OFFICER 0.00 X 104083 0 0 1540265 0 120581 12 1 1 0 SC&H GROUP INC 910 RIDGEBROOK RD SPARKS GLENCOE MD 21152 ACCOUNTING SERVICES 272039 WEBMETTLE LLC PO BOX 1707 ALEXANDRIA VA 22313 WEB HOSTING SERVICES 144760 ST CROIX PRESS INC 1185 S KNOWLES AVE NEW RICHMOND WI 54017 PRINT COMMUNICATIONS 140238 THE BREAKERS PALM BEACH INC 1S COUNTY RD PALM BEACH FL 33480 EVENT 137400 VISION CREATIVE LLC 5598 GENERAL WASHINGTON DR ALEXANDRIA VA 22312 AUDIO/VIDEO PRODUCTION 100040 5 1367445 418126 1785571 CONFERENCES & MEETINGS 900099 3795232 3795232 MEMBERSHIPS 900099 2773459 2773459 ADVERTISING 541800 686372 686372 PUBLICATIONS 900099 286466 286466 MANAGEMENT SERVICES 900099 211512 211512 7753041 213050 213050 131138 131138 240478 3974 236504 236504 236504 1090069 1089327 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3974 277226 10118130 1916 1916 10120046 7703481 3974 3974 7699507 1916 1916 7701423 PART V, LINE 4: TO PROVIDE RESOURCES TO FUND RESEARCH AND EDUCATION IN THE INSOLVENCY AREA. THE ENDOWMENT FUNDS SCHOLARSHIPS, MOOT COURT COMPETITIONS, AND RESEARCH. PART X, LINE 2: FOR THE YEAR ENDED DECEMBER 31, 2021, ABI HAS DOCUMENTED ITS CONSIDERATION OF FASB ASC 740-10, INCOME TAXES, THAT PROVIDES GUIDANCE FOR REPORTING UNCERTAINTY IN INCOME TAXES AND HAS DETERMINED THAT NO MATERIAL UNCERTAIN TAX POSITIONS QUALIFY FOR EITHER RECOGNITION OR DISCLOSURE IN THE FINANCIAL STATEMENTS. PART XI, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES LISTED AS EXPENSES ON THE FINANCIAL 3,974. STATEMENTS, AND NETTED AGAINST REVENUE ON FORM 990, PART VIII, LINE 6B. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES LISTED AS EXPENSES ON THE FINANCIAL 3,974. STATEMENTS, AND NETTED AGAINST REVENUE ON FORM 990, PART VIII, LINE 6B. 1 UC HASTINGS COLLEGE OF LAW 200 MCALLISTER STREET SAN FRANCISCO CA 94102 237135898 501(C)(3) 45000 0 TO BE USED PURSUANT TO ORIGINAL GRANT AWARD LETTER FROM ABI. 1 0 GRANT 10 12000 PART I, LINE 2: THE ORGANIZATION PROVIDES GRANTS AS PART OF THE MOOT COURT PROGRAM, WHICH IS A PROGRAM INTERNAL TO THE ORGANIZATION. THE ORGANIZATION MONITORS AND EVALUATES THE PROGRESS DURING THE YEAR. THE REMAINING AMOUNT GOES TO GRANT RECIPIENTS THAT SUBMITTED APPLICATIONS AND HAVE TO PROVIDE SEMIANNUAL REPORTS ON PROGRESS. THESE ARE ALL REVIEWED BY A GRANTS BOARD COMMITTEE. X 0 0 X X X X X 0 1 0 0 0 0 0 1 0 AMY A QUACKENBOSS EXECUTIVE DIRECTOR 295832 0 0 0 0 0 12000 0 7382 0 315214 0 0 0 KARIM GUIRGUIS CHIEF OPERATING OFFICER 199000 0 16500 0 0 0 10865 0 6127 0 232492 0 0 0 CHRIS THACKSTON DIRECTOR OF MEMBERSHIP 169469 0 0 0 0 0 8697 0 5498 0 183664 0 0 0 JENNIFER GUIRGUIS CONFERENCE DIRECTOR 157844 0 7500 0 0 0 2097 0 10524 0 177965 0 0 0 SATISH KODALI SOFTWARE ENGINEER 163166 0 1000 0 0 0 8359 0 1720 0 174245 0 0 0 JOHN HARTGEN PUBLIC AFFAIRS OFFICER 148120 0 0 0 0 0 16422 0 5725 0 170267 0 0 0 JAMES CARMAN DIRECTOR OF COMMUNICATIONS 150251 0 2500 0 0 0 8401 0 6231 0 167383 0 0 0 SAMUEL GERDANO FORMER OFFICER 0 0 0 0 104083 0 0 0 0 0 104083 0 0 0 PART I, LINE 1A VARIOUS EMPLOYEES RECEIVED $20 PER MONTH SUBSIDY FOR HEALTH OR SOCIAL CLUB DUES OR INITIATION FEES. THE AMOUNT WAS INCLUDED IN TAXABLE COMPENSATION. PART I, LINE 4B SAM GERDANO RECEIVED $104,083 AS PART OF HIS DEFERRED PENSION BENEFITS. PART I, LINE 7 THE FOLLOWING INDIVIDUALS RECEIVED BONUS COMPENSATION DURING 2021: KARIM GUIRGUIS $16,500 JENNIFER GUIRGUIS $7,500 SATISH KODALI $1,000 JAMES CARMAN $2,500 CAROLYN KANON $1,000 WILLIAM ROCHELLE $25,000 FORM 990, PART VI, SECTION A, LINE 2 BRUCE HARWOOD (BOARD MEMBER) AND HANNAH BLUMENSTIEL (BOARD MEMBER) HAVE A FAMILY RELATIONSHIP. KARIM GUIRGUIS (OFFICER) AND JENNIFER GUIRGUIS (HIGHLY COMPENSATED EMPLOYEE) HAVE A FAMILY RELATIONSHIP. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION HAS UPDATED ITS BYLAWS TO ADD THE VP OF DIVERSITY EQUITY AND INCLUSION TO THE EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY ABI'S TAX ACCOUNTANTS WITH INPUT FROM INTERNAL ABI STAFF AND ABI'S OUTSIDE ACCOUNTANTS. IT WAS REVIEWED BY AN EXTERNAL CFO AND THE EXECUTIVE DIRECTOR. AFTER A FINAL DRAFT WAS BEEN PRODUCED THE DOCUMENT WAS PRESENTED TO THE BOARD OF DIRECTORS WHO REVIEWED THE DRAFT AND ACCEPTED THE DRAFT AS FINAL. THE FULL BOARD WAS GIVEN THE OPPORTUNITY TO ASK QUESTIONS OR SUGGEST CHANGES BEFORE THE FINAL DRAFT WAS SENT TO THE IRS. THE EXECUTIVE DIRECTOR PROVIDED THE BOARD WITH SUPPORTING DOCUMENTS THAT HELPED THEM IDENTIFY KEY ITEMS AS WELL AS RECONCILE THE 990 TO THE AUDITED FINANCIAL STATEMENTS. FORM 990, PART VI, SECTION B, LINE 12C THE AMERICAN BANKRUPTCY INSTITUTE (ABI) HAS A WRITTEN CONFLICT OF INTEREST POLICY WHICH IT GIVES TO ALL MEMBERS OF THE BOARD OF DIRECTORS. THE DIRECTORS ARE REQUIRED TO SIGN A FORM DISCLOSING ANY CONFLICTS AND ACKNOWLEDGING THAT THEY HAVE READ AND UNDERSTOOD THE POLICY. THE CFO TRACKS THE SUBMISSION OF THESE FORMS TO INSURE THAT ALL MEMBERS OF THE BOARD HAVE SIGNED THE FORM. THE FORM IS DISTRIBUTED TO NEW MEMBERS OF THE BOARD WHEN THEY JOIN AND ANNUALLY TO ALL MEMBERS OF THE BOARD. CURRENTLY, THERE ARE NO DISCLOSED OR KNOWN CONFLICTS. FORM 990, PART VI, SECTION B, LINE 15 THE ABI HAS A COMPENSATION COMMITTEE WHICH REVIEWS THE EXECUTIVE DIRECTOR'S SALARY AND COMPARES IT TO INDUSTRY AVERAGES. METHODS OF COMPENSATION RESEARCH INCLUDE (BUT ARE NOT LIMITED TO) COMPENSATION SURVEYS AND STUDIES. THE ED SALARIES AND BONUS ARE RECOMMENDED BY THE COMPENSATION COMMITTEE AND APPROVED BY THE EXECUTIVE COMMITTEE. THE ED HAS A WRITTEN EMPLOYMENT CONTRACT. OTHER STAFF MEMBERS' SALARIES ARE DETERMINED BY THE ED BASED ON PERFORMANCE AND SUBJECT TO BUDGETARY RESTRICTIONS. THE EXECUTIVE DIRECTOR REVIEW LAST TOOK PLACE IN FEBRUARY 2022. FORM 990, PART VI, SECTION C, LINE 19 ABI'S FORM 990, GOVERNING DOCUMENTS, CONFLICTS OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE POSTED ON THE ORGANIZATION'S WEBSITE (WWW.ABIWORLD.ORG) AND DISTRIBUTED TO MEMBERS OF THE BOARD OF DIRECTORS. WRITTEN COPIES ARE ALSO AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. FORM 990, PART X, LINE 24: ON JUNE 6, 2020, ABI RECEIVED LOAN PROCEEDS IN THE AMOUNT OF $150,000 WITH A 2.75% FIXED INTEREST RATE UNDER THE ECONOMIC INJURY LOAN PROGRAM. THE PROMISSORY NOTE CALLS FOR MONTHLY PRINCIPAL AND INTEREST PAYMENTS AMORTIZED OVER THE 30 YEAR TERM OF THE PROMISSORY NOTE WITH A DEFERRAL OF PAYMENTS FOR THE FIRST EIGHTEEN MONTHS. ON MAY 7, 2020, ABI RECEIVED LOAN PROCEEDS IN THE AMOUNT OF $683,700 UNDER THE PAYCHECK PROTECTION PROGRAM. THE PROMISSORY NOTE CALLS FOR MONTHLY PRINCIPAL AND INTEREST PAYMENTS AMORTIZED OVER THE TERM OF THE PROMISSORY NOTE WITH A DEFERRAL OF PAYMENTS FOR THE FIRST SIX MONTHS. UNDER THE CORONAVIRUS AID, RELIEF, AND ECONOMIC SECURITY ACT (CARES ACT), THE PROMISSORY NOTE MAY BE FORGIVEN BY THE SMALL BUSINESS ADMINISTRATION (SBA) IN WHOLE OR IN PART. ABI USED THE PROCEEDS FOR PURPOSES CONSISTENT WITH THE PAYCHECK PROTECTION PROGRAM AND BELIEVES THAT ITS USE OF THE LOAN PROCEEDS MET THE CONDITIONS FOR FORGIVENESS OF THE LOAN. ABI APPLIED FOR FORGIVENESS AFTER COMPLETING THE 24 WEEK PERIOD AND ON MARCH 5, 2021 FORGIVENESS WAS GRANTED. THIS AMOUNT IS RECORDED AS "EXTINGUISHMENT OF DEBT," WHICH IS AN OTHER ITEM ON THE STATEMENT OF ACTIVITIES AND CHANGE IN NET ASSETS. ON MARCH 12, 2021, ABI RECEIVED LOAN PROCEEDS IN THE AMOUNT OF $683,745 UNDER THE PAYCHECK PROTECTION PROGRAM. THE PROMISSORY NOTE CALLS FOR MONTHLY PRINCIPAL AND INTEREST PAYMENTS AMORTIZED OVER THE TERM OF THE PROMISSORY NOTE WITH A DEFERRAL OF PAYMENTS FOR THE FIRST SIX MONTHS. UNDER THE CARES ACT, THE PROMISSORY NOTE MAY BE FORGIVEN BY THE SBA IN WHOLE OR IN PART. ABI USED THE PROCEEDS FOR PURPOSES CONSISTENT WITH THE PAYCHECK PROTECTION PROGRAM AND BELIEVES THAT ITS USE OF THE LOAN PROCEEDS MET THE CONDITIONS FOR FORGIVENESS OF THE LOAN. ABI APPLIED FOR FORGIVENESS AFTER COMPLETING THE 24 WEEK PERIOD. ON DECEMBER 22, 2021, ABI RECEIVED NOTICE THAT THE LOAN WAS FORGIVEN IN ITS ENTIRETY, BOTH INTEREST AND PRINCIPAL. THIS AMOUNT IS RECORDED AS "EXTINGUISHMENT OF DEBT," WHICH IS AN OTHER ITEM ON THE STATEMENT OF ACTIVITIES AND CHANGE IN NET ASSETS.