2017-10-31T09:41:00-05:00 2016-12-31 420714325 RSM US LLP 1185 AVENUE OF THE AMERICAS NEW YORK NY 100362602 990 2016-01-01 135585375 THE PROVIDENT LOAN SOCIETY OF NEW YORK PROV 2126850380 346 PARK AVENUE SOUTH NEW YORK NY 100101708 JOHN T HIGNEY PRESIDENT & CEO 2126850380 2017-10-30 1 LYNNE JOHNSON P00757336 2123721000 108.171.131.187 2017-10-30 21:27:35 ED P 7FAEB9026BB29A2473DF58312E7459CAE1357782 74945D2FC77B6F91CA20B0294C60E870FB0C5B8E 2016 2021-01-29 14:40:06Z JOHN T HIGNEY 346 PARK AVENUE SOUTH NEW YORK NY 100101708 4971056 0 X WWW.PROVIDENTLOAN.COM X 1894 NY TO AID PERSONS IN NEED OF PECUNIARY ASSISTANCE 9 9 43 10 0 0 0 0 4976345 4765489 443 567 271930 205000 5248718 4971056 0 0 0 0 3379656 2805057 0 0 0 2573431 2155143 5953087 4960200 -704369 10856 19657947 18488900 8337927 7574090 11320020 10914810 THE MISSION OF THE SOCIETY IS TO AID PERSONS IN NEED OF PECUNIARY ASSISTANCE BY LOANS OF MONEY AT INTEREST UPON PLEDGE OF PERSONAL PROPERTY. 0 0 3033984 4765489 THE SOLE PROGRAM SERVICE ACTIVITY OF THE SOCIETY IS TO AID PERSONS IN NEED OF PECUNIARY ASSISTANCE BY LOANS OF MONEY AT INTEREST UPON THE PLEDGE OF PERSONAL PROPERTY. APPROXIMATE NUMBER OF LOANS MADE DURING 2016 = 28,000 3033984 0 0 0 0 0 0 0 0 0 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 1 21 0 1 43 1 0 0 0 0 0 0 X 9 9 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X KEVIN KING 2126850380 346 PARK AVENUE SOUTH NEW YORK NY 100101708 X RICHARD A DRUCKER CHAIRMAN 0.30 X X 0 0 0 AUSTIN V SHAPARD SECRETARY/TREASURER 0.30 X X 0 0 0 EDWARD D PARDOE III TRUSTEE 0.30 X 0 0 0 GEORGE DEWEY THRU 21016 TRUSTEE 0.30 X 0 0 0 JANE G GRIMES TRUSTEE 0.30 X 0 0 0 RADFORD W KLOTZ TRUSTEE 0.30 X 0 0 0 REBECCA LINDSEY TRUSTEE 0.30 X 0 0 0 THATCHER M BROWN III TRUSTEE 0.30 X 0 0 0 TROLAND S LINK TRUSTEE 0.30 X 0 0 0 MARK RAMBLER FROM 5416 TRUSTEE 0.30 X 0 0 0 ISAAC P RODRIGUEZ PRESIDENT & CEO 35.00 X 148052 0 26727 JOHN T HIGNEY VP & COO 35.00 X 121547 0 33778 THEODORE C FISHER ASSISTANT SECRETARY 35.00 X 87955 0 13293 ANTHONY LORE ASSISTANT SECRETARY 35.00 X 87369 0 12713 KEVIN KING CONTROLLER 35.00 X 66136 0 13520 LINDA FLAKE THRU 31416 VP, HUMAN RESOURCE DIRECTOR 35.00 X 37248 0 2899 SCOTT WATSON CMO 35.00 X 101389 0 32109 649696 0 135039 3 0 1 0 0 INTEREST EARNED ON LOA 522299 4189272 4189272 STORAGE FEE INCOME 522299 401227 401227 TICKET FEE INCOME 522299 172643 172643 SERVICE FEE INCOME 522299 2347 2347 4765489 567 567 205000 0 205000 205000 205000 4971056 4765489 0 205567 633930 342097 291833 1503829 859937 643892 208402 34782 173620 269188 165917 103271 189708 121612 68096 64816 64816 59569 59569 57255 57255 453199 452799 400 128371 95749 32622 82883 9200 73683 420733 396730 24003 7043 2751 4292 191672 189646 2026 103703 28241 75462 213172 157579 55593 OTHER EXPENSES 167249 56078 111171 REPAIRS & MAINTENANCE 112269 66162 46107 CONSULTING EXPENSE 54548 16043 38505 AUCTION SALE LOSS 38661 38661 0 4960200 3033984 1926216 0 1106436 1181326 543176 611501 14878813 13724899 281799 282667 2977228 1750516 1310885 1226712 1536838 1461795 19657947 18488900 210913 232939 4950000 4000000 3177014 3341151 8337927 7574090 X 11320020 10914810 11320020 10914810 19657947 18488900 X 10856 -416066 X 0 1 X 1 0 377975 377975 1477300 1030015 447285 152168 149800 2368 653863 539201 114662 315922 31500 284422 1226712 ACCRUED INTEREST ON LOANS 1267715 TICKET FEES RECEIVABLE 58569 STORAGE FEES RECEIVABLE 135511 1461795 EXCESS OF PROCEEDS FROM AUCTION SALES OVER LOANS 585596 LIABILITY FOR POST-RETIREMENT WELFARE BENEFITS 1286870 ACCRUED PENSION BENEFIT OBLIGATION 1342250 SECURITY DEPOSIT PAYABLE 107861 LIABILITY UNDER CAPITAL LEASE 18574 3341151 X 4971056 0 4971056 0 4971056 5376266 416066 416066 4960200 0 4960200 PART X, LINE 2: THE SOCIETY IS EXEMPT FROM FEDERAL INCOME TAXES UNDER SECTION 501(C)(4) OF THE INTERNAL REVENUE CODE AND FROM STATE INCOME TAXES. THE SOCIETY RECOGNIZES THE TAX BENEFIT FROM AN UNCERTAIN TAX POSITION ONLY IF IT IS MORE LIKELY THAN NOT THAT THE TAX POSITION WILL BE SUSTAINED ON EXAMINATION BY TAXING AUTHORITIES, BASED ON THE TECHNICAL MERITS OF THE POSITION. THE TAX BENEFITS RECOGNIZED IN THE FINANCIAL STATEMENTS FROM SUCH A POSITION ARE MEASURED BASED ON THE LARGEST BENEFIT THAT HAS A GREATER THAN 50% LIKELIHOOD OF BEING REALIZED UPON ULTIMATE SETTLEMENT. MANAGEMENT EVALUATED THE SOCIETY'S TAX POSITIONS AND CONCLUDED THAT THE SOCIETY HAD TAKEN NO UNCERTAIN TAX POSITIONS THAT REQUIRE ADJUSTMENT TO THE FINANCIAL STATEMENTS. GENERALLY, THE SOCIETY IS NO LONGER SUBJECT TO INCOME TAX EXAMINATIONS BY THE U.S. FEDERAL, STATE OR LOCAL TAX AUTHORITIES FOR YEARS BEFORE 2013, WHICH IS THE STANDARD STATUTE OF LIMITATIONS LOOK-BACK PERIOD. PART XII, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN PENSION & OTHER POSTRETIREMENT CHGS OTHER THAN NET PERIODIC COSTS 416,066. X X 0 0 0 0 0 0 0 0 0 ISAAC P RODRIGUEZ PRESIDENT & CEO 147962 0 0 0 90 0 14806 0 11921 0 174779 0 0 0 JOHN T HIGNEY VP & COO 118038 0 0 0 3509 0 18233 0 15545 0 155325 0 0 0 FORM 990, PART VI, SECTION B, LINE 11B THE CONTROLLER AND PRESIDENT/CEO REVIEW THE FORM 990. THE SOCIETY'S FORM 990 IS REVIEWED VIA TELEPHONE CONFERENCE CALL WITH THE AUDIT COMMITTEE AND IS THEN DISTRIBUTED TO ALL MEMBERS OF THE BOARD OF TRUSTEES PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE SOCIETY'S OFFICERS AND TRUSTEES SIGN ANNUAL CONFLICT OF INTEREST STATEMENTS, DISCLOSING ALL RELATIONSHIPS BETWEEN THEM AND THE BUSINESS ORGANIZATIONS CONDUCTING BUSINESS WITH THE SOCIETY. THESE STATEMENTS ARE REVIEWED BY THE EXECUTIVE COMMITTEE, WHO WILL ATTEMPT TO RESOLVE ANY ACTUAL OR POTENTIAL CONFLICT(S) AND, IN THE ABSENCE OF RESOLUTION, WILL REFER THE MATTER TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 15 THE BOARD OF TRUSTEES SETS THE COMPENSATION AMOUNTS FOR THE SOCIETY'S OFFICERS AND KEY EMPLOYEES, INCLUDING THE PRESIDENT/CEO, AT ITS ANNUAL NOVEMBER MEETING. THE BOARD RECEIVES, FROM THE PRESIDENT/CEO, A LISTING OF ACTIVE OFFICERS' SALARIES FOR THE PRIOR TWO YEARS, THE LAST INCREASES GRANTED, AND PROPOSED INCREASES WHICH, SUBJECT TO APPROVAL, WOULD BE USED FOR THE COMING BUDGETARY YEAR. THE MEASURES USED IN EVALUATING THE SALARIES OF THE PRESIDENT/CEO, OTHER OFFICERS, AND KEY EMPLOYEES ARE: THE FINANCIAL CONDITION OF THE SOCIETY, EVALUATIONS BY SUPERVISORS, LENGTH OF SERVICE, AND COMPARATIVE COMPENSATION INFORMATION OF OTHER NOT-FOR-PROFIT ORGANIZATIONS, DERIVED PERIODICALLY FROM INDEPENDENT SOURCES. THE COMPENSATION DELIBERATION AND DECISIONS ARE DOCUMENTED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 COPIES OF THE SOCIETY'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST FOR THE SAME PERIOD OF DISCLOSURE AS SET FORTH IN SECTION 6104(D). 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 XI, LINE 9: CHANGE IN PENSION & OTHER POSTRETIREMENT CHGS OTHER THAN NET PERIODIC COSTS -416,066.