2019-11-14T10:58:57-06:00 2018-12-31 EISNERAMPER LLP 750 THIRD AVENUE NEW YORK NY 100172703 990 2018-01-01 131331235 Special Funds Conservation Committee % RICHARD VANDERBEEK SPEC 2125429748 C/O GRANT THORNTON 757 THIRD AVE NEW YORK NY 10017 RICHARD VANDERBEEK INTERIM COO 2125429748 2019-11-13 true CANDICE METH P01306891 2129498700 64.238.150.4 26505220193185000085 2019-11-14 P 76F63173862BD53306569026D89B1616E4AE25DE 76F63173862BD53306569026D89B1616E4AE25DE 2018 2020-04-17 16:48:07Z X RICHARD VANDERBEEK C/O GRANT THORNTON 757 THIRD AVE NEW YORK NY 10017 62896969 false X WWW.SPECIALFUNDS.ORG X 1938 NY SEE ATTACHMENT 1 X 5 5 130 5 0 45865 0 0 16000000 59322287 9366 3574682 0 0 16009366 62896969 0 0 0 0 7037152 13665174 0 0 0 4298565 13190391 11335717 26855565 4673649 36041404 18915348 60241002 7110558 12394808 11804790 47846194 X THE SPECIAL FUNDS CONSERVATION COMMITTEE (THE "COMMITTEE") WAS ORGANIZED IN NEW YORK STATE IN 1938 FOR THE PURPOSE OF CONSERVING THE ASSETS OF THE SPECIAL FUNDS CREATED UNDER SECTION 25-A OF THE WORKERS' COMPENSATION LAW OF THE STATE OF NEW YORK. IT INVESTIGATED CLAIMS AGAINST SUCH SPECIAL FUNDS AND COOPERATES WITH THE CHAIRMAN AND MEMBERS OF THE NEW YORK WORKERS' COMPENSATION BOARD, THE SUPERINTENDENT OF INSURANCE, AND ANY OTHER PUBLIC OFFICIAL WHOSE DUTIES ARE CONCERNED WITH THE OPERATION OF THE SPECIAL FUNDS. AS DESCRIBED IN PART III, LINE 3, THE EXPECTED DATE OF DISSOLUTION IS DECEMBER 31, 2025. FURTHER, THE OPERATIONS OF THE COMMITTEE HAVE BEEN AMENDED SUCH THAT THE COMMITTEE WILL ONLY ENGAGE IN ACTIVITIES RELATED TO THE WIND-DOWN OF THE COMMITTEE UNITL DISSOLUTION. false true THE COMMITTEE'S PROGRAM IS INDICATED IN THE MISSION STATEMENT. ALL EXPENSES INCURRED ARE TO ADVANCE THE MISSION. THE COMMITTEE WAS RESPONSIBLE FOR HANDLING 25-A FILES, PROCESSING MEDICAL BILLS AND ATTENDING HEARINGS FOR 25-A FILES. false false false true false false false false false false false false false false false false false false false false false false false false false false false false true false false false false false false false false true false false false false false true X 17 0 true 130 true true true false false false false false false false X 5 5 false true true false true true true true true false false true true true true true true true true false X RICHARD VANDERBEEK 2125429748 C/O GRANT THORNTON 757 THIRD AVE NEW YORK NY 10017 Marci L Freida Chairperson 1.0 0.0 X X 0 0 0 JEROME ATTIE Secretary 1.0 0.0 X X 0 0 0 Eric Madoff Board Member 1.0 0.0 X 0 0 0 Brian Trick Board Member 1.0 0.0 X 0 0 0 Jolene Casatelli Board Member 1.0 0.0 X 0 0 0 Steven M Licht Chief Executive Officer 37.5 0.0 X 414528 0 48332 Karen Allen COO - THROUGH SEPTEMBER 2018 37.5 0.0 X 246104 0 49056 RICHARD VANDERBEEK INTERIM COO - AS OF SEPT 2018 37.5 0.0 X 0 0 0 THOMAS DICKINSON SENIOR HEARING REPRESENTATIVE 37.5 0.0 X 309880 0 28716 MARIE MOZIAK WORKER COMP REPRESENTATIVE 37.5 0.0 X 284070 0 37302 CHRISTINE GASPER Upstate Attorney Manager 37.5 0.0 X 276706 0 22860 JILL SINGER ASSISTANT ATTORNEY 37.5 0.0 X 253350 0 28732 ELFRIEDA KITT Hearing Rep. Coordinator 37.5 0.0 X 256051 0 23903 2040689 0 238901 42 false true false GRANT THORNTON LLP 757 THIRD AVENUE NEW YORK NY 10017 CONSULTING 499151 STROOCK STROOCK LAVIN LLP 180 MAIDEN LANE NEW YORK NY 10038 LEGAL 573212 KRAMER LEVIN NAFTALIS FRANKEL L 1177 AVENUE OF THE AMERICAS NEW YORK NY 10036 LEGAL 404573 OLIVER WYMAN PO BOX 5160 NEW YORK NY 10087 CONSULTING 161873 4 0 BUDGETED REIMBURSEMENTS 900099 59322287 59322287 59322287 3574682 3574682 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 62896969 59322287 3574682 0 0 0 0 660632 0 5148053 614139 5810960 1431390 0 1105342 524495 0 0 0 5389260 0 289981 1822827 0 3100821 39670 0 0 0 0 0 833793 MISCELLANEOUS 84202 26855565 800 0 16239540 31844551 0 0 1333337 28396451 0 0 0 0 0 0 0 0 308963 0 0 0 746965 0 0 0 0 0 0 0 285743 0 18915348 60241002 7110558 12394808 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 7110558 12394808 X 11804790 47846194 0 0 0 0 11804790 47846194 18915348 60241002 36041404 X X false false false true true false X true true false Steven M Licht Chief Executive Officer 209828 0 0 0 204700 0 27747 0 20585 0 462860 0 0 0 Karen Allen COO - THROUGH SEPTEMBER 2018 246104 0 0 0 0 0 33980 0 15076 0 295160 0 0 0 THOMAS DICKINSON SENIOR HEARING REPRESENTATIVE 92346 0 0 0 217534 0 12839 0 15877 0 338596 0 0 0 MARIE MOZIAK WORKER COMP REPRESENTATIVE 79870 0 0 0 204200 0 11264 0 26038 0 321372 0 0 0 CHRISTINE GASPER Upstate Attorney Manager 70006 0 0 0 206700 0 9703 0 13157 0 299566 0 0 0 JILL SINGER ASSISTANT ATTORNEY 126150 0 0 0 127200 0 11616 0 17116 0 282082 0 0 0 ELFRIEDA KITT Hearing Rep. Coordinator 92351 0 0 0 163700 0 13067 0 10836 0 279954 0 0 0 SCHEDULE J, PART I, LINES 4A & 4B: AS PART OF THE DISSOLUTION OF THE COMMITTEE, THE FOLLOWING INDIVIDUALS LISTED ON FORM 990, PART VII, SECTION A, LINE 1A, RECEIVED SEVERANCE AND PAYMENTS RELATED TO NON-QUALIFIED RETIREMENT PLANS (POST-RETIREMENT MEDICAL AND LIFE INSURANCE): STEVEN LICHT: MEDICAL $148,000 LIFE $6,700 SEVERANCE $50,000 TOTAL $204,700 THOMAS DICKENSON: MEDICAL $173,334 LIFE $6,700 SEVERANCE $37,500 TOTAL $217,534 MARIE MOZIAK: MEDICAL $160,000 LIFE $6,700 SEVERANCE $37,500 TOTAL $204,200 CHRISTINE GASPER: MEDICAL $170,000 LIFE $6,700 SEVERANCE $30,000 TOTAL $206,700 JILL SINGER: MEDICAL $68,000 LIFE $6,700 SEVERANCE $52,500 TOTAL $127,200 ELFREIDA KITT: MEDICAL $112,000 LIFE $6,700 SEVERANCE $45,000 TOTAL $163,700 SEE PART III false false false true false false false false SCHEDULE N PART I, LINES 1A, 2D, & 3: ON DECEMBER 20, 2018, THE EXECUTIVE COMMITTEE OF SPECIAL FUNDS CONSERVATION COMMITTEE (THE "COMMITTEE") VOTED TO ADOPT THE PLAN OF DISSOLUTION, DATED DECEMBER 20, 2018 FOR WINDING DOWN AND DISSOLVING THE COMMITTEE (THE "PLAN"). ACCORDINGLY, THE COMMITTEE CEASED TO CARRY OUT ITS HISTORICAL BUSINESS AND AFFAIRS ON DECEMBER 31, 2018, AND SINCE SUCH DATE HAS ONLY ENGAGED, AND WILL CONTINUE FROM AND AFTER THE DATE OF THIS PLAN TO ON ENGAGE IN ACTIVITIES AND BUSINESS APPURTENANT TO ITS WIND-DOWN AS CONTEMPLATED BY THIS PLAN (THE "WIND-DOWN"). THE COMMITTEE HAS ADOPTED THE LIQUIDATION BASIS OF ACCOUNTING AS OF DECEMBER 20, 2018. AS OF DECEMBER 31, 2018 THE DISTRIBUTION OF ASSETS AND LIABILITIES HAD NOT YET COMMENCED BUT WILL DO SO DURING THE WIND-DOWN PROCESS. THE COMMITTEE HAS RETAINED GRANT THORNTON LLP AS THE FINANCIAL ADVISOR TO ACT AS INTERIM CHIEF OPERATING OFFICER AND TRUSTEE OF THE COMMITTEE IN AN EFFORT TO MANAGE THE WIND-DOWN PROCESS. THE COMMITTEE HAS TRANSFERRED ITS CLAIMS MANAGEMENT RESPONSIBILITIES TO THIRD-PARTY ADMINISTRATORS. THE COMMITTEE HAS RETAINED CERTAIN FORMER EMPLOYEES AS CONTRACTORS TO MANAGE THE ACCOUNTING RECORDS AND ASSIST WITH THE WIND-DOWN PROCESS. THE COMMITTEE HAS RETAINED CERTAIN CONTRACTORS TO MANAGE AND RETAIN CLAIMS AND NON-CLAIMS DATA. THE COMMITTEE HAS ALSO RETAINED CERTAIN ATTORNEYS AND ACTUARIES TO FACILITATE THE WIND-DOWN PROCESS. IN ACCORDANCE WITH THE WIND-DOWN, THE EMPLOYEES OF THE COMMITTEE WERE TERMINATED PRIOR TO DECEMBER 31, 2018, RESULTING IN ONE-TIME SEVERANCE PAYMENTS AS WELL AS PAYMENTS IN RELATION TO RETIREE MEDICAL AND LIFE INSURANCE POLICIES HELD BY THE TERMINATED EMPLOYEES. FURTHER, THE WIND-DOWN ALSO REQUIRED A ONE-TIME CONTRIBUTION TO THE COMMITEE'S 401K PLAN ON BEHALF OF THE TERMINATED EMPLOYEES. THE EXPECTED DATE OF DISSOLUTION IS DECEMBER 31, 2025. AS PART OF THE DISSOLUTION OF THE COMMITTEE, THE FOLLOWING INDIVIDUAL LISTED ON FORM 990, PART VII, SECTION A, LINE 1A, RECEIVED SEVERANCE AND PAYMENTS RELATED TO NON-QUALIFIED RETIREMENT PLANS (POST-RETIREMENT MEDICAL AND LIFE INSURANCE): STEVEN LICHT: MEDICAL $148,000 LIFE $6,700 SEVERANCE $50,000 TOTAL $204,700 FORM 990, PART III, LINE 3: ON DECEMBER 20, 2018, THE EXECUTIVE COMMITTEE OF SPECIAL FUNDS CONSERVATION COMMITTEE (THE "COMMITTEE") VOTED TO ADOPT THE PLAN OF DISSOLUTION, DATED DECEMBER 20, 2018 FOR WINDING DOWN AND DISSOLVING THE COMMITTEE (THE "PLAN"). ACCORDINGLY, THE COMMITTEE CEASED TO CARRY OUT ITS HISTORICAL BUSINESS AND AFFAIRS ON DECEMBER 31, 2018, AND SINCE SUCH DATE HAS ONLY ENGAGED, AND WILL CONTINUE FROM AND AFTER THE DATE OF THIS PLAN TO ON ENGAGE IN ACTIVITIES AND BUSINESS APPURTENANT TO ITS WIND-DOWN AS CONTEMPLATED BY THIS PLAN (THE "WIND-DOWN"). THE COMMITTEE HAS ADOPTED THE LIQUIDATION BASIS OF ACCOUNTING AS OF DECEMBER 20, 2018. AS OF DECEMBER 31, 2018 THE DISTRIBUTION OF ASSETS AND LIABILITIES HAD NOT YET COMMENCED BUT WILL DO SO DURING THE WIND-DOWN PROCESS. THE COMMITTEE HAS RETAINED GRANT THORNTON LLP AS THE FINANCIAL ADVISOR TO ACT AS INTERIM CHIEF OPERATING OFFICER AND TRUSTEE OF THE COMMITTEE IN AN EFFORT TO MANAGE THE WIND-DOWN PROCESS. THE COMMITTEE HAS TRANSFERRED ITS CLAIMS MANAGEMENT RESPONSIBILITIES TO THIRD-PARTY ADMINISTRATORS. THE COMMITTEE HAS RETAINED CERTAIN FORMER EMPLOYEES AS CONTRACTORS TO MANAGE THE ACCOUNTING RECORDS AND ASSIST WITH THE WIND-DOWN PROCESS. THE COMMITTEE HAS RETAINED CERTAIN CONTRACTORS TO MANAGE AND RETAIN CLAIMS AND NON-CLAIMS DATA. THE COMMITTEE HAS ALSO RETAINED CERTAIN ATTORNEYS AND ACTUARIES TO FACILITATE THE WIND-DOWN PROCESS. THE EXPECTED DATE OF DISSOLUTION IS DECEMBER 31, 2025. PART IV, LINES 11F, 12A & PART XII, LINE 2B: AS OF THE DATE OF FILING THIS FEDERAL FORM 990, THE COMMITTEE'S AUDIT FOR 2018 WAS NOT YET COMPLETED AND ACCORDINGLY THERE ARE NO AUDITED FINANCIAL STATEMENTS PERTAINING TO THE CURRENT YEAR. PART V, LINES 3A & 3B: DUE TO THE TAX CUTS AND JOBS ACT, THE COMMITTEE WAS SUBJECT TO UNRELATED BUSINESS INCOME TAX ON THE DISALLOWED TRANSPORTATION AND QUALIFIED PARKING FRINGE BENEFITS AND ACCORDINGLY FILED THE FORM 990-T. PART VI, LINE 3: In conjuction with the Liquidation, THE COMMITTEE HAS retained Grant Thornton LLP as the financial advisor to act as Interim COO and trustee of the COMMITTEE, in an effort to manage the Liquidation process. Further, the Interim COO is not a paid employee of the Committee (See Part VII). PART VI, LINE 4: ON DECEMBER 20, 2018, THE EXECUTIVE COMMITTEE OF SPECIAL FUNDS CONSERVATION COMMITTEE (THE "COMMITTEE") VOTED TO ADOPT THE PLAN OF DISSOLUTION, DATED DECEMBER 20, 2018 FOR WINDING DOWN AND DISSOLVING THE COMMITTEE (THE "PLAN"). ACCORDINGLY, THE COMMITTEE CEASED TO CARRY OUT ITS HISTORICAL BUSINESS AND AFFAIRS ON DECEMBER 31, 2018, AND SINCE SUCH DATE HAS ONLY ENGAGED, AND WILL CONTINUE FROM AND AFTER THE DATE OF THIS PLAN TO ON ENGAGE IN ACTIVITIES AND BUSINESS APPURTENANT TO ITS WIND-DOWN AS CONTEMPLATED BY THIS PLAN (THE "WIND-DOWN"). THE COMMITTEE HAS ADOPTED THE LIQUIDATION BASIS OF ACCOUNTING AS OF DECEMBER 20, 2018. AS OF DECEMBER 31, 2018 THE DISTRIBUTION OF ASSETS AND LIABILITIES HAD NOT YET COMMENCED BUT WILL DO SO DURING THE WIND-DOWN PROCESS. THE COMMITTEE HAS RETAINED GRANT THORNTON LLP AS THE FINANCIAL ADVISOR TO ACT AS INTERIM CHIEF OPERATING OFFICER AND TRUSTEE OF THE COMMITTEE IN AN EFFORT TO MANAGE THE WIND-DOWN PROCESS. THE COMMITTEE HAS TRANSFERRED ITS CLAIMS MANAGEMENT RESPONSIBILITIES TO THIRD-PARTY ADMINISTRATORS. THE COMMITTEE HAS RETAINED CERTAIN FORMER EMPLOYEES AS CONTRACTORS TO MANAGE THE ACCOUNTING RECORDS AND ASSIST WITH THE WIND-DOWN PROCESS. THE COMMITTEE HAS RETAINED CERTAIN CONTRACTORS TO MANAGE AND RETAIN CLAIMS AND NON-CLAIMS DATA. THE COMMITTEE HAS ALSO RETAINED CERTAIN ATTORNEYS AND ACTUARIES TO FACILITATE THE WIND-DOWN PROCESS. PART VI, SECTION A, LINES 6, 7A & 7B: THE SIX VOTING MEMBER POSITIONS OF THE COMMITTEE ARE HELD BY REPRESENTATIVES OF ORGANIZATIONS. REPRESENTATIVES ARE FROM THE NEW YORK STATE INSURANCE FUND, THE NEW YORK COMPENSATION RATING BOARD, THE STOCK INSURANCE CARRIERS, THE MUTUAL INSURANCE CARRIERS, AND VARIOUS SELF INSURERS. THE REPRESENTATIVES ARE SELECTED BY THE COMMMITEE. THE BUDGET WAS APPROVED BY THE EXECUTIVE COMMITTEE, THE NEW YORK STATE WORKERS COMPENSATION BOARD (PER A MEMORANDUM OF UNDERSTANDING) AND THE NEW YORK COMPENSATION INSURANCE RATING BOARD. PART VI, SECTION B, LINE 11B: AFTER THE INTERIM COO AND MANAGEMENT HAVE REVIEWED AND APPROVED THE FORM 990, A COPY IS PROVIDED TO ALL MEMBERS OF THE BOARD FOR THEIR REVIEW AND APPROVAL PRIOR TO ITS SUBMISSION. PART VI, SECTION B, LINE 12C: EVERY JANUARY A LETTER IS SENT OUT REGARDING THE CONFLICTS OF INTEREST POLICY TO ALL STAFF AND EACH BOARD MEMBER. THE LETTER MUST BE SIGNED AND RETURNED. PART VI, SECTION B, LINE 15: THE CEO'S SALARY IS APPROVED BY THE EXECUTIVE COMMITTEE. THE CHIEF OPERATING OFFICER'S SALARY IS APPROVED BY THE CEO. ALL OTHER POSITIONS ARE REVIEWED AND APPROVED BY THE CEO. PART VI, SECTION C, LINE 19: GOVERNING DOCUMENTS ARE DISTRIBUTED TO MEMBERS WHO MUST PROVIDE WRITTEN ACKNOWLEDGEMENT OF RECEIPT. POLICIES AND FINANCIAL INFORMATION ARE AVAILABLE UPON REQUEST. FORM 8868 APPLICATION FOR AN EXTENSION OF TIME TO FILE AN EXEMPT ORGANIZATION RETURN WAS FILED ELECTRONICALLY. FORM 990 PART IX LINE 11G DESCRIPTION:CONSULTING TOTAL FEES:5342683 FORM 990 PART IX LINE 11G DESCRIPTION:OTHER PROFESSIONAL FEES TOTAL FEES:46577