2021-11-01T14:44:11-05:00 2020-12-31 521392008 GELMAN ROSENBERG & FREEDMAN 4550 MONTGOMERY AVE SUITE 800N BETHESDA MD 208142930 990 2020-01-01 521295453 AMERICAN BANKRUPTCY INSTITUTE AMER 7037390800 66 CANAL CENTER PLAZA NO 600 ALEXANDRIA VA 22314 AMY QUACKENBOSS EXECUTIVE DIRECTOR 7037390800 2021-11-01 1 AMY QUACKENBOSS 999009999 RICHARD J LOCASTRO CPA P00288314 3019519090 0 AAL1 IAL1 2020 2022-09-23 18:48:47Z AMY QUACKENBOSS 66 CANAL CENTER PLAZA NO 600 ALEXANDRIA VA 22314 15062903 0 X WWW.ABIWORLD.ORG X 1982 VA SEE PART III, LINE 1. 59 59 35 750 652594 0 200128 270542 8920742 5705054 436867 462257 275532 329216 9833269 6767069 576414 3250 0 0 4879038 4118568 0 0 116581 5041662 2956300 10497114 7078118 -663845 -311049 19149677 21045850 5226411 7256761 13923266 13789089 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 2385649 2063179 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. 2108704 787191 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. 661639 2854684 MEMBERSHIP SERVICES: ABI PROVIDES ONGOING SERVICES TO ITS MEMBERS IN ORDER TO PROVIDE A BROAD, IN-DEPTH RESOURCE OF INSOLVENCY ISSUES AND RELATED SERVICES. 146795 3250 RESEARCH PROJECTS AND GRANTS: ABI PROVIDES FUNDING AND SCHOLARSHIPS TO ENHANCE BANKRUPTCY RESEARCH AND EDUCATION. 146795 3250 5302787 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 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 19 0 1 35 1 1 1 0 0 0 0 0 0 0 0 0 0 0 X 59 59 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 1 1 1 0 AR AK CA CT CO HI IL KS LA MA ME MI MN NC NH NJ NM NY OK OR PA RI SC VA WA WI X AMY QUACKENBOSS 7037390800 66 CANAL CENTER PLAZA NO 600 ALEXANDRIA VA 22314 ALANE A BECKET CHAIRMAN 5.00 X X 0 0 0 ROBERT P REYNOLDS PRESIDENT 5.00 X X 0 0 0 HON BARBARA J HOUSER IMMEDIATE PAST PRESIDENT 5.00 X X 0 0 0 HON KEVIN J CAREY PRESIDENT-ELECT 5.00 X X 0 0 0 DOUGLAS L LUTZ VP - EDUCATION 5.00 X X 0 0 0 CHRISTOPHER A WARD VP - DEVELOPMENT 5.00 X X 0 0 0 THOMAS MICHAEL HORAN 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 LISA SOMMERS GRETCHKO VP - PUBLICATIONS 5.00 X X 0 0 0 HON MICHELLE M HARNER VP - RESEARCH/GRANTS 5.00 X X 0 0 0 HON BRUCE A HARWOOD SECRETARY 5.00 X X 0 0 0 SONEET R KAPILA TREASURER 5.00 X X 0 0 0 FRANKLIN DAVIS LEA DIRECTOR 1.00 X 0 0 0 HON MICHAEL A FAGONE DIRECTOR 1.00 X 0 0 0 WILLIAM H HENRICH DIRECTOR 1.00 X 0 0 0 ERIC W ANDERSON DIRECTOR 1.00 X 0 0 0 HON JANET S BAER 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 HON HANNAH L BLUMENSTIEL DIRECTOR 1.00 X 0 0 0 HON DANIEL P COLLINS DIRECTOR 1.00 X 0 0 0 H DAVID COX DIRECTOR 1.00 X 0 0 0 HON ROBERT D DRAIN 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 HON JOHN T GREGG DIRECTOR 1.00 X 0 0 0 PAUL R HAGE DIRECTOR 1.00 X 0 0 0 ARIANE HOLTSCHLAG DIRECTOR 1.00 X 0 0 0 JAMES ROBERT IRVING DIRECTOR 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 1.00 X 0 0 0 JENNIFER B KIMBLE DIRECTOR 1.00 X 0 0 0 SUZANNE KOENIG DIRECTOR 1.00 X 0 0 0 CLIFFORD A ZUCKER 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 PAUL D LEAKE DIRECTOR 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 MYEROWITZ DIRECTOR 1.00 X 0 0 0 ERIKA LYNN MORABITO DIRECTOR 1.00 X 0 0 0 DIERDRE 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 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 ADRIENNE K WALKER DIRECTOR 1.00 X 0 0 0 ERIC E WALKER DIRECTOR 1.00 X 0 0 0 NANCY J WHALEY DIRECTOR 1.00 X 0 0 0 DONALD A WORKMAN 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 208239 0 16372 MARY KLEPPINGER CHIEF PEOPLE & CULTURE OFFICER 40.00 X 192597 0 10930 KATHY SHEEHAN CHIEF FINANCIAL OFF. (UNTIL 03/2020) 40.00 X 164066 0 14078 CHRIS THACKSTON DIRECTOR OF MEMBERSHIP 40.00 X 160588 0 10543 SATISH KODALI SOFTWARE ENGINEER 40.00 X 149701 0 14179 JOHN HARTGEN PUBLIC AFFAIRS OFFICER 40.00 X 141278 0 12993 JAMES CARMAN DIRECTOR OF COMMUNICATIONS 40.00 X 135344 0 18536 JENNIFER GUIRGUIS CONFERENCE DIRECTOR 40.00 X 130525 0 14773 WILLIAM ROCHELLE EDITOR AT LARGE 40.00 X 130062 0 14591 SAM GERDANO FORMER EXECUTIVE DIRECTOR (OFFICER) 0.00 X 408086 0 14469 2116318 0 160846 17 1 1 0 WEBMETTLE LLC PO BOX 1707 ALEXANDRIA VA 22313 WEB HOSTING SERVICES 157920 ST CROIX PRESS INC 1185 S KNOWLES AVE NEW RICHMOND WI 54017 PRINT COMMUNICATIONS 142306 VISION CREATIVE LLC 5598 GENERAL WASHINGTON DR ALEXANDRIA VA 22312 AUDIO/VIDEO PRODUCTION 104820 3 270542 270542 MEMBERSHIPS 900099 2674068 2674068 CONFERENCES & MEETINGS 900099 2063179 2063179 ADVERTISING 541800 652594 652594 MANAGEMENT SERVICES 900099 180616 180616 PUBLICATIONS 900099 134597 134597 5705054 309751 309751 123368 123368 242100 38295 203805 203805 203805 8410045 8257539 152506 152506 152506 MISCELLANEOUS 900099 2043 2043 2043 6767069 5052460 652594 791473 3250 3250 1092627 229872 846921 15834 422555 422555 2135643 2009513 110267 15863 81357 78738 2159 460 157970 125868 30809 1293 228416 168314 58138 1964 11172 6601 4495 76 114653 67740 46128 785 9332 9332 324638 297318 15046 12274 3857 2279 1552 26 524542 392239 129766 2537 224573 155945 54329 14299 683695 426570 252182 4943 33918 32798 11 1109 507153 468889 17426 20838 1150 680 462 8 32514 19652 12647 215 17386 10272 6995 119 EQUIPMENT 166658 162465 4123 70 CREDIT CARD FEES 103507 61965 40847 695 GIFTS 15906 12074 2255 1577 DIRECT MAIL 90998 90998 90648 56192 12860 21596 7078118 5302787 1658750 116581 X 394526 734800 9200126 5374541 119952 66723 337510 724979 536578 461629 664120 584424 47360 79696 8248635 11444607 264990 2158875 19149677 21045850 1714635 763893 2415830 2949044 833700 1095946 2710124 5226411 7256761 X 13714451 13625376 208815 163713 13923266 13789089 19149677 21045850 -311049 176872 0 X 0 1 X 1 0 X 345662 277268 349282 200128 270542 1442882 7925409 7603328 7678092 8499067 5052460 36758356 8271071 7880596 8027374 8699195 5323002 38201238 0 39963 74168 95860 48917 245861 504769 39963 74168 95860 48917 245861 504769 37696469 456584 455257 535853 583944 675219 2706857 456584 455257 535853 583944 675219 2706857 98155 95975 95957 94985 2043 387115 8825810 8431828 8659184 9378124 6000264 41295210 0.91290 0.94000 0.06550 0.04690 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 8802067 238933 101974 15272 9127702 9089820 143441 169577 600771 8802067 8826429 483414 88161 308184 9089820 8643361 384183 104722 305837 8826429 8293528 340695 103765 94627 8643361 1.00000 0.00000 0.00000 0 0 322436 253657 68779 92059 93694 -1635 249625 237073 12552 79696 DEFERREED COMPENSATION PLAN 208225 DEPOSITS 70423 RIGHT OF USE ASSET 1868270 INTEREST RECEIVABLE 11957 2158875 DEFERRED COMPENSATION PLAN 208225 LEASE LIABILITY 2457943 OTHER LIABILITIES 43956 2710124 X 6972904 176872 38295 215167 6757737 9332 9332 6767069 7107081 38295 38295 7068786 9332 9332 7078118 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, 2020, 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 38,295. STATEMENTS, BUT LISTED ON PART VIII OF THE FORM 990. PART XII, LINE 2D - OTHER ADJUSTMENTS: RENTAL EXPENSES LISTED AS EXPENSES ON THE FINANCIAL 38,295. STATEMENTS, BUT LISTED ON PART VIII OF THE FORM 990. X 0 0 X X X X X 1 1 0 0 0 0 0 1 0 SAM GERDANO FORMER EXECUTIVE DIRECTOR (OFFICER) 0 0 0 0 408086 0 969 0 13500 0 422555 0 0 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 185239 0 23000 0 0 0 10245 0 6127 0 224611 0 0 0 MARY KLEPPINGER CHIEF PEOPLE & CULTURE OFFICER 187597 0 5000 0 0 0 9848 0 1082 0 203527 0 0 0 KATHY SHEEHAN CHIEF FINANCIAL OFF. (UNTIL 03/2020) 164066 0 0 0 0 0 8580 0 5498 0 178144 0 0 0 CHRIS THACKSTON DIRECTOR OF MEMBERSHIP 160588 0 0 0 0 0 8823 0 1720 0 171131 0 0 0 SATISH KODALI SOFTWARE ENGINEER 149701 0 0 0 0 0 8454 0 5725 0 163880 0 0 0 JOHN HARTGEN PUBLIC AFFAIRS OFFICER 141278 0 0 0 0 0 6762 0 6231 0 154271 0 0 0 JAMES CARMAN DIRECTOR OF COMMUNICATIONS 132844 0 2500 0 0 0 8012 0 10524 0 153880 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, LINES 4A-B SAM GERDANO (FORMER EXECUTIVE DIRECTOR) RECEIVED A SEVERANCE PACKAGE OF $422,555 DURING 2020. PART I, LINE 7 THE FOLLOWING INDIVIDUALS RECEIVED BONUS COMPENSATION DURING 2020: KARIM GUIRGUIS $23,000 MARY KLEPPINGER $5,000 JAMES CARMAN $2,500 JENNIFER GUIRGUIS $3,500 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. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 WAS PREPARED BY THE OUTSIDE ACCOUNTANTS. IT WAS REVIEWED BY THE CFO AND THE ACCOUNTING MANAGER. AFTER A FINAL DRAFT HAS BEEN PRODUCED, THE DOCUMENT WAS REVIEWED BY THE FINANCE COMMITTEE; THE FINANCE COMMITTEE HAD THE OPPORTUNITY TO DISCUSS EITHER BY EMAIL OR BY PHONE. WHEN THE FINANCE COMMITTEE WAS SATISFIED WITH THE DRAFT, IT RECOMMENDED TO THE BOARD TO ACCEPT THE DRAFT AS FINAL. THE FULL BOARD OF DIRECTORS WAS GIVEN THE OPPORTUNITY TO ASK QUESTIONS OR SUGGEST CHANGES BEFORE THE FINAL DRAFT WAS SENT TO THE IRS. THE CFO PROVIDED BOTH GROUPS WITH A DOCUMENT THAT HELPS 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. THIS PROCESS LAST TOOK PLACE IN JANUARY 2020. OTHER STAFF MEMBERS' SALARIES ARE DETERMINED BY THE EXECUTIVE DIRECTOR BASED UPON PERFORMANCE AND SUBJECT TO BUDGETARY RESTRICTIONS. THE EXECUTIVE DIRECTOR ALSO USES INDUSTRY AVERAGES, COMPENSATION SURVEYS AND STUDIES. THIS PROCESS LAST TOOK PLACE ON MARCH 2020. 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 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 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 MARCH 5, 2021 FORGIVENESS WAS GRANTED. AS SUCH, ABI WILL RECORD REVENUE FROM DEBT EXTINGUISHMENTS DURING THE PERIOD THAT FORGIVENESS WAS APPROVED.