2015-11-16T11:40:28-06:00 2014-12-31 420714325 RSM US LLP 751 ARBOR WAY STE 200 BLUE BELL PA 19422 990 2014-01-01 230958260 PENNSYLVANIA COMPENSATION RATING BUREAU PENN 2153204414 30 S 17TH STREET NO 1500 PHILADELPHIA PA 191034007 WILLIAM V TAYLOR PRESIDENT 2153204414 2015-11-13 1 CHRISTOPHER PEKULA CPA P00734965 2156418600 2015-11-13 2014 2016-02-25 16:41:14Z WILLIAM V TAYLOR 30 S 17TH STREET NO 1500 PHILADELPHIA PA 191034007 11907251 0 X WWW.PCRB.COM X 1915 PA SEE SCHEDULE O 12 12 123 0 0 0 13786213 11806358 0 0 16536 11678 99498 89215 13902247 11907251 0 0 0 0 11009625 11352321 0 0 0 2525606 817411 13535231 12169732 367016 -262481 4253240 4369023 8804995 15089985 -4551755 -10720962 X SEE SCHEDULE O 0 0 COLLECTING, EDITING, AND MAINTAINING WORKERS COMPENSATION EXPERIENCE DATA FOR NON-COAL MINE COMMERCIAL MARKETS IN PA. PROMULGATION, APPLICATION, AND ENFORCEMENT OF RISK CLASSIFICATIONS, UNDERWRITING RULES, RATING VALUES AND RATING PLANS APPLICABLE TO WORKERS COMPENSATION INSURANCE WRITTEN IN PA. PREPERATION, SUBMISSION AND DEFENSE OF REGULATORY FILINGS TO AMEND AND/OR MAINTAIN RISK CLASSIFICATIONS, UNDERWRITING RULES, RATING VALUES AND RATING PLANS APPLICABLE TO WORKERS COMPENSATION INSURANCE WRITTEN IN PA. 0 0 0 0 0 0 0 0 0 1 0 0 0 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 1 0 0 1 24 0 1 123 1 0 0 0 0 0 0 X 12 12 0 0 0 0 1 1 1 1 1 0 0 1 1 1 0 1 1 1 1 0 X JOHN E PANCZNER 2153204414 UNITED PLAZA BLDG 30 S 17TH STREET PHILADELPHIA PA 191034007 AMERICAN HOME ASSURANCE INSTITUTIONAL TRUSTEE 1.60 X 0 0 0 HARTFORD ACCIDENT & INDEMNITY INSTITUTIONAL TRUSTEE 1.60 X 0 0 0 PENN NATIONAL INSURANCE COMPANY INSTITUTIONAL TRUSTEE 1.60 X 0 0 0 NATIONAL FEDERATION OF INDEP BUSINE INSTITUTIONAL TRUSTEE 1.60 X 0 0 0 PA CHAMBER OF BUSINESS & INDUSTRY IND INSTITUTIONAL TRUSTEE 1.60 X 0 0 0 PMA INSURANCE COMPANY INSTITUTIONAL TRUSTEE 1.60 X 0 0 0 STATE WORKERS' INSURANCE FUND INSTITUTIONAL TRUSTEE 1.60 X 0 0 0 TRAVELERS INSURANCE COMPANY INSTITUTIONAL TRUSTEE 1.60 X 0 0 0 ZENITH INSURANCE COMPANY INSTITUTIONAL TRUSTEE 1.60 X 0 0 0 ZURICH AMERICAN INSURANCE COMPANY INSTITUTIONAL TRUSTEE 1.60 X 0 0 0 DEPARTMENT OF LABOR & INDUSTRY INSTITUTIONAL TRUSTEE 1.60 X 0 0 0 LIBERTY MUTUAL INSURANCE COMPANY INSTITUTIONAL TRUSTEE 1.60 X 0 0 0 XL INSURANCE COMPANY INSTITUTIONAL TRUSTEE 1.60 X 0 0 0 TIMOTHY L WISECARVER PRESIDENT 30.00 10.00 X 355448 0 427462 BRUCE E DECKER SENIOR VICE PRESIDENT 30.00 10.00 X 184163 0 267920 JOHN J MURPHY VICE PRESIDENT 30.00 10.00 X 173036 0 206217 JOHN E PANCZNER VP, SECRETARY & TREASURER 30.00 10.00 X 145104 0 121813 BONITA PIACENTINO VICE PRESIDENT 30.00 10.00 X 163425 0 98362 KENNETH CREIGHTON CHEIF ACTUARY 30.00 10.00 X 162863 0 27553 BETTY ANN CAMPBELL DIRECTOR 30.00 10.00 X 131963 0 214477 ANDREY LAPCHENKO LAN MANAGER 30.00 10.00 X 134903 0 77147 VINCENT DEAN DIRECTOR 30.00 10.00 X 131451 0 151170 DAVID RAWSON TECHNICAL DIRECTOR, CLASS 30.00 10.00 X 107339 0 108277 PRAKASH KRISHNAPPA MANAGER, WEB PROJECTS 30.00 10.00 X 108003 0 41560 1797698 0 1741958 11 0 1 0 WINDMILL SOFTWARE LLC 1130 DARCZUK DRIVE GARNET VALLEY PA 19060 SOFTWARE DEVELOPMENT 217350 WORKERS COMP RESEARCH INSTITUTE 955 MASSACHUSETTS AVENUE CAMBRIDGE MA 02139 W/C RESEARCH & BENCHMARKING 195000 YURCOR INC 100 E LINTON ROAD DELRAY FL 33483 IT MGMT & CONSULTING 124680 DUANE MORRIS LLP 30 S 17TH STREET PHILADELPHIA PA 19103 LEGAL 122179 4 11806358 11806358 11678 11678 PRINTING, SEMINARS, ETC. 611430 89215 89215 89215 11907251 89215 0 11678 1924649 5855827 1894638 1123934 553273 125137 66000 124680 151379 727415 625949 164016 328281 77670 WCRI BENCHMARK STUDY 195000 EQUIPMENT & FURNISHINGS 121662 EMPLOYEE OVERHEAD AND E 33095 ALLOCATION OF EXPENSES -1922873 12169732 157538 136084 1396954 2152973 198800 97116 298596 397962 2492691 1634728 733181 857963 504010 502484 40027 40027 924134 184414 4253240 4369023 921857 967442 7883138 14122543 8804995 15089985 X -4551755 -10720962 -4551755 -10720962 4253240 4369023 X -262481 -5906726 X X 0 1 X 1 0 232852 110361 122491 1882169 1524367 357802 377670 377670 857963 ASSESSMENTS REFUNDABLE TO MEMBERS 10806 DEFERRED COMPENSATION PAYABLE 746520 ACCRUED PENSION LIABILITY 12832071 DEFERRED RENT LIABILITY 363019 DUE TO DCRB 170127 14122543 X 6000525 -5906726 -5906726 11907251 0 11907251 12169732 0 12169732 0 12169732 PART X, LINE 2: PCRB IS A NOT-FOR-PROFIT ORGANIZATION THAT IS EXEMPT FROM INCOME TAXES UNTER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE AND CLASSIFIED BY THE INTERNAL REVENUE SERVICE AS OTHER THAN A PRIVATE FOUNDATION. PCRB RECOGNIZES INTEREST ACCRUED RELATED TO UNRECOGNIZED TAX BENEFITS IN INTEREST EXPENSE AND PENALTIES IN OPERATING EXPENSES. NO SUCH INTEREST OR PENALTIES WERE RECOGNIZED DURING 2014 AND 2013. PCRB'S FORMS 990, RETURN OF ORGANIZATION EXEMPT FROM INCOME TAX FOR THE YEARS ENDED 2011 THROUGH 2014 REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. PART XI, LINE 2D - OTHER ADJUSTMENTS: MINIMUM PENSION LIABILITY ADJUSTMENT -5,906,726. X X X X X 0 0 0 TIMOTHY L WISECARVER PRESIDENT 296941 0 53550 0 4957 0 402979 0 24483 0 782910 0 0 0 BRUCE E DECKER SENIOR VICE PRESIDENT 162612 0 16308 0 5243 0 250031 0 17889 0 452083 0 0 0 JOHN J MURPHY VICE PRESIDENT 151805 0 21231 0 0 0 181734 0 24483 0 379253 0 0 0 JOHN E PANCZNER VP, SECRETARY & TREASURER 133831 0 11273 0 0 0 97330 0 24483 0 266917 0 0 0 BONITA PIACENTINO VICE PRESIDENT 144244 0 19181 0 0 0 73879 0 24483 0 261787 0 0 0 KENNETH CREIGHTON CHEIF ACTUARY 156497 0 6366 0 0 0 26506 0 1047 0 190416 0 0 0 BETTY ANN CAMPBELL DIRECTOR 120742 0 11221 0 0 0 196588 0 17889 0 346440 0 0 0 ANDREY LAPCHENKO LAN MANAGER 128220 0 6683 0 0 0 76100 0 1047 0 212050 0 0 0 VINCENT DEAN DIRECTOR 118517 0 12934 0 0 0 126687 0 24483 0 282621 0 0 0 DAVID RAWSON TECHNICAL DIRECTOR, CLASS 98355 0 8984 0 0 0 90388 0 17889 0 215616 0 0 0 FORM 990, PART I, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: THE PENNSYLVANIA COMPENSATION RATING BUREAU (PCRB) IS THE LICENSED RATING ORGANIZATION FOR THE PROMULGATION AND DETERMINATION OF WORKERS COMPENSATION INSURANCE RATING VALUES AND CLASSIFICATION SYSTEM USED BY INSURERS, AGENTS AND EMPLOYERS IN THE COMMONWEALTH OF PENNSYLVANIA. FORM 990, PART III, LINE 1, DESCRIPTION OF ORGANIZATION MISSION: THE PENNSYLVANIA COMPENSATION RATING BUREAU (PCRB) IS THE LICENSED RATING ORGANIZATION FOR THE PROMULGATION AND DETERMINATION OF WORKERS COMPENSATION INSURANCE RATING VALUES AND CLASSIFICATION SYSTEM USED BY INSURERS, AGENTS AND EMPLOYERS IN THE COMMONWEALTH OF PENNSYLVANIA. FORM 990, PART VI, SECTION A, LINE 6 THE PCRB'S MEMBERS ARE COMPRISED OF ALL PROPERTY/CASUALTY INSURERS LICENSED TO WRITE WORKERS COMPENSATION BUSINESS IN THE COMMONWEALTH OF PENNSYLVANIA. FORM 990, PART VI, SECTION A, LINE 7A GOVERNING BOARD MEMBERS ARE ELECTED BY A VOTE OF ALL MEMBERS PRESENT AND VOTING AT AN ANNUAL MEETING OF THE PCRB ATTENDED BY SUFFICIENT MEMBERS TO ATTAIN A QUORUM UNDER THE TERMS OF THE PCRB'S BY-LAWS. FORM 990, PART VI, SECTION A, LINE 7B DECISIONS SUBJECT TO APPROVAL OF MEMBERS THE FOLLOWING ACTIONS REQUIRE AFFIRMATIVE VOTES OF MEMBERSHIP IN ORDER TO GAIN APPROVAL: 1) AMENDMENT, ALTERATION OR REPEAL OF ANY AND ALL PROVISIONS OF THE PCRB'S BY-LAW (SUCH CHANGES REQUIRE A TWO-THIRDS VOTE OF THE MEMBERS PRESENT AND VOTING WITH THE BENEFIT OF A QUORUM.) 2) AMENDMENT, ALTERATION, REPEAL OR RE-ENACTMENT OF THE BUREAU'S ARTICLES OF INCORPORATION OR BY-LAWS WITH RESPECT TO THE BUREAU'S QUALIFICATION AND OPERATION AS A LICENSED RATING ORGANIZATION IN THE COMMONWEALTH OF PENNSYLVANIA, OR THE DIVISION OF THE BUREAU OR THE VOLUNTARY DISSOLUTION AND WINDING UP ON THE BUREAU, OR THE SALE OF A SUBSTANTIAL PORTION OF THE BUREAU'S ASSETS. (THE PRECEDING FIVE TYPES OF CHANGED REQUIRE THE AFFIRMATIVE VOTE OF (A) TWO-THIRDS OF THE ENTIRE GOVERNING BOARD AT A DULY CONVENED MEETING OF THE GOVERNING BOARD CALLED FOR SUCH PURPOSE, AND (B) TWO-THIRDS OF ALL MEMBERS OF THE BUREAU AT A DULY CONVENED ANNUAL MEETING OF THE BUREAU, OR AT ANY DULY CONVENED SPECIAL MEETING CALLED FOR SUCH PURPOSE. FORM 990, PART VI, SECTION B, LINE 11 PRIOR TO FILING THE 2014 FORM 990 WAS EMAILED TO ALL MEMBERS OF THE PCRB GOVERNING BOARD. ALL GOVERNING BOARD MEMBERS WERE ASKED TO REVIEW THE FORM AND PROVIDE COMMENTS OR QUESTIONS FOR STAFF'S CONSIDERATION. AS OF THE DATE THAT PCRB FILED THE FORM 990, NO ADVERSE COMMENTS OR QUESTIONS REQUIRING ANY CHANGES TO THE FORM 990 AS DISTRIBUTED TO THE GOVERNING BOARD HAD BEEN RECEIVED. SHOULD SUCH ADVERSE COMMENTS OR QUESTIONS BE RECEIVED SUBSEQUENT TO THE FILING DATE OF THE FORM 990, PCRB WILL APPROPRIATELY AMEND ITS 2014 FORM 990 FILING. FORM 990, PART VI, SECTION B, LINE 15 THE TOTAL REMUNERATION (SALARY, OTHER CASH AND BENEFITS) GIVEN TO THE PCRB'S PRESIDENT WAS REVIEWED BY THE HAY GROUP, INC. AT THE REQUEST OF THE COMPENSATION SUBCOMMITTEE OF THE PCRB GOVERNING BOARD. THE PRESIDENTS COMPENSATION, INCLUDING INCENTIVES AND BENEFITS, ARE ESTABLISHED ANNUALLY BY ACTION OF THE GOVERNING BOARD. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS WERE POSTED TO THE WWW.PCRB.COM WEBSITE. THE CONFLICT OF INTEREST POLICY WAS NOT MADE AVAILABLE TO THE PUBLIC IN 2014. FORM 990, PART XI, LINE 9: MINIMUM PENSION LIABIITY ADJUSTMENT -5,906,726. FORM 990, PART XII, LINE 2C: IN 2014, PCRB'S CHARTER WAS RATIFIED TO ESTABLISH AN AUDIT COMMITTEE. THE AUDIT COMMITTEE WAS RESPONSIBLE FOR THE OVERSIGHT OF THE AUDIT OF THE 2013 FINANCIAL STATEMENTS AND THE SELECTION OF THE INDEPENDENT AUDITORS. DELAWARE COMPENSATION RATING BUREAU UNITED PLAZA BUILDING 30 S 17TH STR PHILADELPHIA PA 191034007 510307078 INS. RATING DE 501(C)(6) N/A 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0