2025-11-17T23:06:31-06:00 2024-12-31 331374517 PKF O'CONNOR DAVIES ADVISORY LLC 300 TICE BOULEVARD SUITE 315 WOODCLIFF LAKE NJ 07677 990 2024-01-01 132940919 ACORD CORPORATION ACOR 8456201700 150 CLOVE ROAD 11TH FLOOR LITTLE FALLS NJ 07424 TANYA KROCHTA EVP & CHIEF ADMIN. OFFICER 8456201700 2025-11-17 1 1 GARRETT M HIGGINS P00543209 2017129800 2025-11-17 2024 2025-03-06 01:10:19Z WILLIAM PIERONI 150 CLOVE ROAD 11TH FLOOR LITTLE FALLS NJ 07424 51020709 0 X WWW.ACORD.ORG X 1978 DE TO PROMOTE THE INTERESTS OF AND IMPROVE THE EFFICIENCY AND EFFECTIVENESS OF ALL TRADING PARTNERS WITHIN THE VARIOUS SEGMENTS OF THE INSURANCE AND RELATED FINANCIAL SERVICES INDUSTRIES. 18 17 48 22 0 0 0 0 29849099 34350490 1083387 1273284 0 0 30932486 35623774 2817 1213 0 0 7505017 8864820 0 0 0 6218783 5921357 13726617 14787390 17205869 20836384 80120531 113372518 37546049 57888739 42574482 55483779 X THE ASSOCIATION FOR COOPERATIVE OPERATIONS RESEARCH AND DEVELOPMENT ("ACORD") IS A NOT-FOR-PROFIT CORPORATION ORGANIZED TO PROMOTE THE INTERESTS OF AND IMPROVE THE EFFICIENCY AND EFFECTIVENESS OF ALL TRADING PARTNERS WITHIN THE VARIOUS SEGMENTS OF THE INSURANCE AND PROMOTING THE INTERESTS OF AND IMPROVING THE EFFICIENCY AND EFFECTIVENESS OF ALL TRADING PARTNERS WITHIN THE VARIOUS SEGMENTS OF THE INSURANCE AND RELATED FINANCIAL SERVICES INDUSTRIES BY DEVELOPING STANDARDS, SPECIFICATIONS, AND RELATED IMPLEMENTATIONS TOOLS FOR THE ELECTRONIC EXCHANGE OF INFORMATION AND OTHER INFORMATION PROCESSING. ACORD ALSO SERVES THE PUBLIC INTEREST AND THE INTERESTS OF CONSUMERS OF INSURANCE AND RELATED FINANCIAL SERVICES THROUGH ANALYSIS, EDUCATION, STANDARDS SETTING AND RESEARCH & DEVELOPMENT ACTIVITIES CONCERNING THE ELECTRONIC EXCHANGE OF INFORMATION AND OTHER INFORMATION PROCESSING. 0 0 PROMOTING THE INTERESTS OF AND IMPROVING THE EFFICIENCY AND EFFECTIVENESS OF ALL TRADING PARTNERS WITHIN THE VARIOUS SEGMENTS OF THE INSURANCE AND RELATED FINANCIAL SERVICES INDUSTRIES BY DEVELOPING STANDARDS, SPECIFICATIONS, AND RELATED IMPLEMENTATIONS TOOLS FOR THE ELECTRONIC EXCHANGE OF INFORMATION AND OTHER INFORMATION PROCESSING. ACORD ALSO SERVES THE PUBLIC INTEREST AND THE INTERESTS OF CONSUMERS OF INSURANCE AND RELATED FINANCIAL SERVICES THROUGH ANALYSIS, EDUCATION, STANDARDS SETTING AND RESEARCH & DEVELOPMENT ACTIVITIES CONCERNING THE ELECTRONIC EXCHANGE OF INFORMATION AND OTHER INFORMATION PROCESSING. 0 0 0 1 0 0 0 0 0 1 0 0 1 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 16 0 48 1 0 1 UK 0 0 0 0 1 0 X 18 17 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 1 1 1 1 0 X LISA PLUNKETT 8456201700 150 CLOVE ROAD 11TH FLOOR LITTLE FALLS NJ 07424 WILLIAM PIERONI PRESIDENT & CEO 40.00 X X 2818061 0 114768 ROBERT KELLY CHAIR 1.00 X X 0 0 0 KEVIN TOBIN VICE-CHAIR 1.00 X X 0 0 0 COLLEEN BATMAN DIRECTOR 1.00 X 0 0 0 KIRK BEHRENS DIRECTOR 1.00 X 0 0 0 CLYDE BERNSTEIN DIRECTOR 1.00 X 0 0 0 RICHARD BRAME DIRECTOR 1.00 X 0 0 0 BILL DEVINE DIRECTOR THRU 03/27/2024 1.00 X 0 0 0 IAN HAYCOCK DIRECTOR THRU 01/19/2024 1.00 X 0 0 0 BOB JAMES DIRECTOR 1.00 X 0 0 0 MICHAEL JONES DIRECTOR 1.00 X 0 0 0 JOHN KELLINGTON DIRECTOR 1.00 X 0 0 0 MARK KNIPFER DIRECTOR THRU 01/19/2024 1.00 X 0 0 0 VENKAT KRISHNAMOORTHY DIRECTOR 1.00 X 0 0 0 JENNIFER KYUNG DIRECTOR 1.00 X 0 0 0 PAUL LEHMANN DIRECTOR 1.00 X 0 0 0 DAVE MATCHAM FCII DIRECTOR 1.00 X 0 0 0 PATRICK MOLINEUX DIRECTOR 1.00 X 0 0 0 ROBERT RUSBULDT DIRECTOR THRU 01/19/2024 1.00 X 0 0 0 DR CHRISTIAN SCHAFFER DIRECTOR 1.00 X 0 0 0 DR RALF SCHNEIDER DIRECTOR THRU 01/19/2024 1.00 X 0 0 0 CHARLES SYMINGTON DIRECTOR 1.00 X 0 0 0 ABEL TRAVIS DIRECTOR 1.00 X 0 0 0 TANYA J KROCHTA COO 40.00 X 630292 0 118183 ANDREW J ZUCKERMAN SVP GOVT. AFFAIRS THRU 02/29/2024 40.00 X 262194 0 55452 MARIA LOURDES SORIANO SVP EDUCATION, CONSULTING & ADVOCACY 40.00 X 336183 0 81577 DAVID STERNER SVP, RESEARCH & DEVELOPMENT 40.00 X 294964 0 67850 LISA PLUNKETT SVP OF FINANCE & OPERATIONS 40.00 X 221704 0 96135 MICHAEL DI STEPHAN SVP GOVERNMENT AFFAIRS & GEN. COUNSEL 40.00 X 239191 0 85031 RICHARD FLYNN VP COMMUNICATIONS 40.00 X 167015 0 37456 SEAN STEWART VP COMMUNICATIONS 40.00 X 213844 0 92601 KAREN MOTTLEY BUSINESS ARCHITECT, L&A 40.00 X 152465 0 62774 YOLANDA AUSTIN SENIOR DIRECTOR, L&A 40.00 X 156504 0 51411 5492417 0 863238 19 0 1 0 PHILIP BROWN BURTREE COTTAGE HEBDEN ROAD GRASSINGTON NORTH YORKSHIRE UK CONSULTING 248365 INDEPENDENT INSURANCE AGENTS & BROKERS O 172 S PEYTON STREET ALEXANDRIA VA 22314 MARKETING SERVICES 200000 OMNIA PARATUS 9 BURRINGTON GORGE WESTFIELD NJ 07090 COMMUNICATIONS 180000 3 MEMBERSHIP DUES 524298 14894561 14894561 SUBSCRIPTION FEES 524298 12511250 12511250 PRODUCT AND OTHER SERVICES 524298 6944679 6944679 34350490 1268250 1268250 15401969 15396935 5034 5034 5034 35623774 34350490 0 1273284 1213 5119849 1500474 933468 441421 869608 250334 140009 50000 359361 88446 763708 618004 221097 344359 9261 522874 179668 VALUE ADDED TAX (VAT) 1862273 EXCISE TAXES 414501 MISCELLANEOUS EXPENSES 50832 TRAINING & EDUCATION 27962 18668 14787390 2073575 1139987 6572507 14714025 1962910 304701 503601 675363 1993172 1866214 170471 126958 40913195 38855817 1085632 984681 26838640 56570986 80120531 113372518 3963193 5113849 11829240 20869654 21753616 31905236 37546049 57888739 X 42574482 55483779 42574482 55483779 80120531 113372518 X 20836384 1947321 -9874408 X X 0 1 X 1 0 0 1 0 1993172 1866214 126958 126958 OTHER ASSETS 15882 DUE FROM ACORD SOLUTIONS GROUP 55355003 OPERATING LEASE - RIGHT OF USE ASSETS 223871 OVERFUNDED PENSION OBLIGATION 976230 56570986 DEFERRED COMPENSATION LIABILITY 1767748 OPERATING LEASE LIABILITIES 223872 INVESTMENT IN SUBSIDIARY 29913616 31905236 X 47116240 1947321 9595145 11542466 35573774 50000 50000 35623774 34206943 19479262 19479262 14727681 50000 9709 59709 14787390 PART X, LINE 2: ACORD ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A RECOGNITION THRESHOLD OF MORE-LIKELY-THAN-NOT TO BE SUSTAINED UPON EXAMINATION BY THE APPROPRIATE TAXING AUTHORITY. MEASUREMENT OF THE TAX UNCERTAINTY OCCURS IF THE RECOGNITION THRESHOLD IS MET. MANAGEMENT HAS DETERMINED THAT ACORD HAD NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. ACORD IS NO LONGER SUBJECT TO EXAMINATION BY THE APPLICABLE TAXING JURISDICTIONS FOR YEARS PRIOR TO 2021. PART XI, LINE 2D - OTHER ADJUSTMENTS: REVENUES FROM CONSOLIDATED ENTITY 9,595,145. PART XII, LINE 2D - OTHER ADJUSTMENTS: EXPENSES FROM CONSOLIDATED ENTITY 19,471,609. LOSS ON DISPOSAL 7,653. PART XII, LINE 4B - OTHER ADJUSTMENTS: CHANGE IN ACCRUED PENSION LIABILITY TO BE RECOGNIZED IN FUTURE PERIODS 9,709. EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 4 22 PROGRAM SERVICES MEMBERSHIP SERVICES 3194880 EUROPE (INCLUDING ICELAND & GREENLAND) - ALBANIA, ANDORRA, AUSTRIA, BELGIUM 0 1 PROGRAM SERVICES CONSULTING SERVICES 248365 4 23 0 0 4 23 3443245 0 3443245 0 0 0 0 0 0 X 1 1 X X X X 1 1 0 WILLIAM PIERONI PRESIDENT & CEO 1182341 0 1400000 0 235720 0 30500 0 84268 0 2932829 0 0 0 TANYA J KROCHTA COO 283560 0 340000 0 6732 0 30500 0 87683 0 748475 0 0 0 MARIA LOURDES SORIANO SVP EDUCATION, CONSULTING & ADVOCACY 190897 0 142654 0 2632 0 30500 0 51077 0 417760 0 0 0 DAVID STERNER SVP, RESEARCH & DEVELOPMENT 194828 0 95750 0 4386 0 18000 0 49850 0 362814 0 0 0 MICHAEL DI STEPHAN SVP GOVERNMENT AFFAIRS & GEN. COUNSE 237296 0 0 0 1895 0 20389 0 64642 0 324222 0 0 0 LISA PLUNKETT SVP OF FINANCE & OPERATIONS 179358 0 40000 0 2346 0 30500 0 65635 0 317839 0 0 0 ANDREW J ZUCKERMAN SVP GOVT. AFFAIRS THRU 02/29/2024 36683 0 98220 0 127291 0 4231 0 51221 0 317646 0 0 0 SEAN STEWART VP COMMUNICATIONS 107457 0 106044 0 343 0 17595 0 75006 0 306445 0 0 0 KAREN MOTTLEY BUSINESS ARCHITECT, L&A 142693 0 7000 0 2772 0 10560 0 52214 0 215239 0 0 0 YOLANDA AUSTIN SENIOR DIRECTOR, L&A 144698 0 10000 0 1806 0 8988 0 42423 0 207915 0 0 0 RICHARD FLYNN VP COMMUNICATIONS 150669 0 14000 0 2346 0 10048 0 27408 0 204471 0 0 0 PART I, LINE 1A THE PRESIDENT RECEIVED A SOCIAL CLUB MEMBERSHIP FROM THE ORGANIZATION FOR BUSINESS USE. THIS BENEFIT IS TREATED AS A NONTAXABLE WORKING CONDITION FRINGE BENEFIT UNDER SECTION 132(D) OF THE INTERNAL REVENUE CODE. PART I, LINES 4A-B ANDREW ZUCKERMAN, SVP GOVERNMENT OF GOVERNMENT AFFAIRS (THRU 2/29/24) RECEIVED A SEVERANCE PAYMENT IN THE AMOUNT OF $120,000 WHICH REPORTED IN PART II, COLUMN B(III). WILLIAM PIERONI, PRESIDENT AND CEO, RECEIVED A 457(F) DISTRIBUTION IN THE AMOUNT OF $208,334 IN HIS 2024 W2, WHICH REPORTED IN PART II, COLUMN B(III). FORM 990, PART VI, SECTION A, LINE 6 THE FOLLOWING MAY BECOME REGULAR MEMBERS OF THE CORPORATION, AS DEFINED IN THE CERTIFICATE OF INCORPORATION, AND SHALL BE REFERRED TO IN THESE BYLAWS AS CORPORATE MEMBERS OF THE CORPORATION: - ANY ORGANIZATION ENGAGED IN THE BUSINESS OF UNDERWRITING, AND/OR SELLING, DISTRIBUTING OR OTHERWISE PROVIDING PROPERTY, CASUALTY, LIFE OR HEALTH INSURANCE, SURETY AND ANNUITIES, OR REINSURANCE; - ANY NON-INSURANCE FOR-PROFIT ORGANIZATION NOT ALSO QUALIFYING TO BE AN ORGANIZATION DESCRIBED IN SECTIONS 2A I OR 2A II OF BY-LAWS HEREOF, AND -ANY NOT-FOR-PROFIT TRADE ASSOCIATION REPRESENTING ORGANIZATIONS DESCRIBED IN SECTION 1A OR 1 B OF THE BY-LAWS, INCLUDING SUCH ORGANIZATIONS THAT MAY ALSO REPRESENT INDIVIDUALS. THE FOLLOWING MAY BECOME ASSOCIATE MEMBERS OF THE CORPORATION, AS DEFINED IN THE CERTIFICATE OF INCORPORATION, AND SHALL BE REFERRED TO IN THESE BYLAWS AS ASSOCIATE MEMBERS OF THE CORPORATION: - ANY ORGANIZATION WHOSE PRIMARY BUSINESS IS PROVIDING HARDWARE, SOFTWARE, TECHNOLOGY OR RELATED SERVICES; - ANY USER GROUP FORMED BY AN ORGANIZATION DESCRIBED IN SECTION 2A I OF BY-LAWS HEREOF OR ITS CUSTOMERS HAVING A COMMON INTEREST IN SPECIFIC PRODUCTS AND SERVICES PURCHASED FROM THAT ORGANIZATION; AND -THE GOVERNMENT OF THE UNITED STATES OR ANY SOVEREIGN NATION, ANY OF THEIR RESPECTIVE STATES OR POLITICAL SUBDIVISIONS, ANY REGIONAL AUTHORITY OF ANY OF THE FOREGOING, AND ANY AGENCY OR OTHER ORGANIZATION CREATED BY ANY OF THE FOREGOING. THE FOLLOWING SHALL BE ASSOCIATE MEMBERS OF THE CORPORATION, AS DEFINED IN THE CERTIFICATE OF INCORPORATION, AND SHALL BE REFERRED TO IN THESE BYLAWS AS SUBSCRIBER MEMBERS OF THE CORPORATION: - ANY ORGANIZATION WHICH, FOR DIRECT OR INDIRECT PAYMENT TO THE CORPORATION, SUBSCRIBES FOR SPECIFIC GOODS OR SERVICES UNDER A SUBSCRIBER PROGRAM APPROVED BY THE BOARD OF DIRECTORS OR A DESIGNATED COMMITTEE OF THE BOARD. EVERY MEMBER OF THE CORPORATION SHALL DESIGNATE A REPRESENTATIVE AND AN ALTERNATE TO REPRESENT IT IN REGARD TO CORPORATION MATTERS AND SHALL GIVE NOTICE IN WRITING OF SUCH DESIGNATION TO THE SECRETARY OF THE CORPORATION. FORM 990, PART VI, SECTION A, LINE 7A BOARD OF DIRECTORS' APPROVAL OF INDIVIDUALS NOMINATED FOR BOARD MEMBERSHIP BY THE BOARD'S EXECUTIVE COMMITTEE IS SUBJECT TO ELECTION BY A PLURALITY VOTE OF ACORD MEMBERS ELIGIBLE TO VOTE ON SUCH MATTERS WHO ARE PRESENT AND VOTING IN PERSON OR BY PROXY AT THE MEETING AT WHICH THE NOMINEES ARE VOTED UPON. FORM 990, PART VI, SECTION A, LINE 7B BOARD OF DIRECTORS' APPROVAL OF AMENDMENTS TO ACORD'S BYLAWS IS SUBJECT TO A MAJORITY VOTE OF ACORD MEMBERS ELIGIBLE TO VOTE ON SUCH MATTERS WHO ARE PRESENT IN PERSON OR REPRESENTED BY PROXY AT ANY MEETING OF ACORD. FORM 990, PART VI, SECTION B, LINE 11B THE ORGANIZATION HAS ITS FORM 990 PREPARED BY AN OUTSIDE ACCOUNTING FIRM AND HAS ESTABLISHED THE FOLLOWING REVIEW PROCESS TO ENSURE THAT THE INFORMATION REPORTED IS COMPLETE AND ACCURATE. AFTER THE FORM 990 HAS BEEN PREPARED THE ORGANIZATION PROVIDES A COPY TO THE AUDIT COMMITTEE FOR REVIEW AND ANY COMMENTS. ONCE ALL COMMENTS HAVE BEEN ADDRESSED THE RETURN IS SUBMITTED TO THE INTERNAL REVENUE SERVICE FOR FILING. THE 990 IS NOT REVIEWED BY THE ENTIRE BOARD BEFORE FILING WITH THE IRS BUT IS AVAILABLE TO BE POSTED ON THE BOARD'S WEBSITE IF NEEDED. FORM 990, PART VI, SECTION B, LINE 12C ANNUALLY, THE ORGANIZATION'S DIRECTORS (REGARDING NON-TRANSACTION-SPECIFIC MATTERS), OFFICERS AND KEY EMPLOYEES ARE REQUIRED TO RESPOND TO THE CONFLICT OF INTEREST DISCLOSURE POLICY AND DOCUMENTS ARE REVIEWED INITIALLY BY HOUSE COUNSEL FOR POSSIBLE REFERRAL TO THE PRESIDENT OF THE ORGANIZATION FOR FURTHER CONSIDERATION AND APPROPRIATE ACTION IF WARRANTED. CERTAIN RESPONSES, INCLUDING THOSE FROM NON-KEY-EMPLOYEE STAFF MEMBERS, MAY BE ADDRESSED IN THE FIRST INSTANCE DIRECTLY TO THE PRESIDENT OF THE ORGANIZATION OR BROUGHT TO THE ATTENTION OF THE HEAD OF THE HUMAN RESOURCES DEPARTMENT FOR CONSIDERATION AND POSSIBLE REFERRAL TO THE PRESIDENT OF THE ORGANIZATION FOR FURTHER CONSIDERATION AND APPROPRIATE ACTION IF WARRANTED. A DIRECTOR OR OFFICER DISCLOSING A POTENTIAL CONFLICT REGARDING A PARTICULAR TRANSACTION MAKES THE DISCLOSURE TO THE PRESIDENT OR CHAIRMAN OF THE BOARD OF DIRECTORS (CHAIR) THROUGH THE CORPORATE SECRETARY FOR DETERMINATION AS TO WHETHER THERE IS IN FACT A CONFLICT OR APPEARANCE OF A CONFLICT. IN THE CASE OF A DIRECTOR, IF IT IS DETERMINED THAT A CONFLICT OR APPARENT CONFLICT EXISTS REGARDING A PARTICULAR TRANSACTION, THE CONFLICT OR APPARENT CONFLICT IS REPORTED TO THE EXECUTIVE COMMITTEE OR THE FULL BOARD. IF THE PARTICULAR TRANSACTION REQUIRES A VOTE OF THE BOARD OR ONE OF ITS COMMITTEES, THE AFFECTED DIRECTOR DOES NOT VOTE ON THE MATTER. IN THE CASE OF AN OFFICER, IF IT IS DETERMINED THAT THERE IS IN FACT A CONFLICT REGARDING A PARTICULAR TRANSACTION, THE PRESIDENT OR CHAIR EXERCISES BEST JUDGMENT ON THE APPROPRIATE COURSE TO FOLLOW. THIS MAY INCLUDE APPROVING THE TRANSACTION IF THE PRESIDENT OR CHAIR IS REASONABLY CERTAIN THAT THE BEST INTERESTS OF THE ORGANIZATION WILL BE SERVED BY SUCH AN APPROACH; REFERRING THE ISSUE TO LEGAL COUNSEL FOR ADVICE; OR REFERRING THE ISSUE TO THE FULL BOARD OR APPROPRIATE BOARD COMMITTEE FOR DECISION. IN THE CASE OF A POTENTIAL CONFLICT REGARDING A PARTICULAR TRANSACTION INVOLVING EITHER THE PRESIDENT OR THE CHAIR, THE AFFECTED PARTY NOTIFIES THE OTHER THROUGH THE CORPORATE SECRETARY WITH THE CONFLICT THEN BEING REPORTED TO THE FULL BOARD. IF THE PARTICULAR TRANSACTION REQUIRES A VOTE OF THE BOARD OR ONE OF ITS COMMITTEES, THE PRESIDENT OR CHAIR DOES NOT VOTE ON THE MATTER. FORM 990, PART VI, SECTION B, LINE 15 THE CEO, SENIOR MANAGEMENT TEAM, AND OTHER OFFICERS AND EMPLOYEES' COMPENSATION IS REVIEWED ANNUALLY BY A COMPENSATION COMMITTEE USING COMPENSATION STUDIES AND COMPARING COMPENSATION TO OTHER SIMILAR-SIZED ORGANIZATIONS. ONCE FINALIZED, THE COMMITTEE WILL SEND ITS APPROVAL. THIS PROCESS WAS LAST UNDERTAKEN IN 2024. COMPENSATION WAS DOCUMENTED IN A MEETING THAT WAS NOT INCLUDED IN THE BOARD MINUTES. FORM 990, PART VI, SECTION C, LINE 19 THE GOVERNING DOCUMENTS OF THE CORPORATION ARE AVAILABLE ON THE COMPANY'S PUBLIC WEBSITE. ACORD DOES NOT MAKE THE CONFLICT OF INTEREST POLICY, THE FINANCIAL STATEMENTS, OR FORM 990 AVAILABLE TO THE PUBLIC. FORM 990, PART XI, LINE 9: CHANGE IN ACCRUED PENSION LIABILITY TO BE RECOGNIZED IN FUTURE PERIODS 9,709. LOSS ON INVESTMENT IN SUBSIDIARY -9,876,464. LOSS ON DISPOSAL OF ASSETS -7,653. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR. ACORD SOLUTIONS GROUP INC 150 CLOVE RD STE 11 LITTLE FALLS NJ 109653100 812988120 INSURANCE RELATED SUPPORT CA ACORD CORPORATION C 9595145 28806330 1.00000 1 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1 1 1 1 1 ACORD SOLUTIONS GROUP N 789789 CASH ACORD SOLUTIONS GROUP O 5256451 CASH