2015-10-26T12:42:53-05:00 2014-12-31 GRANT THORNTON LLP 757 THIRD AVE 4TH FLOOR NEW YORK NY 100172013 990 2014-01-01 135562321 Practising Law Institute % FRANK DEVIVO PRAC 2128245700 1177 Avenues of the America New York NY 10036 Anita Shapiro President 2125990100 2015-10-26 true Scott Thompsett P00741490 2125990100 2014 2016-04-25 22:37:26Z Anita C Shapiro 1177 Avenues of the America New York NY 10036 94815053 false X WWW.PLI.EDU X 1933 NY PRACTISING LAW INSTITUTE ("INSTITUTE") provides the legal community with continuing professional education through lecture programs, publications and educational software. 24 24 298 3909 0 0 0 54042145 66765795 4100780 4347985 8190186 8268891 66333111 79382671 17812481 24332476 0 0 25077083 28446123 0 0 0 28370110 28686544 71259674 81465143 -4926563 -2082472 115410887 112938726 46384632 49291976 69026255 63646750 X PRACTISING LAW INSTITUTE ("INSTITUTE") IS A NOT FOR PROFIT ORGANIZATION FOUNDED IN 1933 AND CHARTERED BY THE REGENTS OF THE UNIVERSITY OF THE STATE OF NEW YORK. THE INSTITUTE PROVIDES THE LEGAL COMMUNITY WITH CONTINUING PROFESSIONAL EDUCATION THROUGH LECTURE PROGRAMS, PUBLICATIONS, AND EDUCATIONAL SOFTWARE. true false 66039076 24332476 66796795 Seminars-In 2014, PLI provided live seminars, live webcast, audio or video CD and MP3 downloads, period after rentals. Nearly 294,000 mandatory CLE certificates were processed for these programs. 9502960 10179553 Publishing services supplement the seminars offered by PLI to provide the most up-to-date, relevant information and techniques. Annually PLI provides Course Handbooks, Treatises, and Supplements which are important in providing legal community and allied professionals with the tools to maintain a competitive edge. In 2014, there were 211 Course Handbooks, 154 Treatises and Answer Books, and 99 Treatises Supplements releases issued. 121 Treatises were available for download on the Kindle digital reader. 75542036 true false false false false false false false false false true true false false true true true false false false true false false false false false false false true true false false false false false false false false false false false false false false false false false true 215 0 true 298 true false false false false false false false false false false false false X 24 24 false false false false false false false true true false false true true true true true true true true false CA NY X FRANK DEVIVO 2128245709 1177 AVENUE OF THE AMERICAS New York NY 10036 David M Balabanian board of trustees (thru 04/14) 1.0 0.0 X 0 0 0 Charles E Barnett Board of Trustees 1.0 0.0 X 0 0 0 Devereux Chatillon Board of Trustees 1.0 0.0 X 0 0 0 Douglas S Eakeley board of trustees (thru 04/14) 1.0 0.0 X 0 0 0 William P Frank Chair of the Board 1.0 0.0 X X 0 0 0 Pierre Gentin Board of trustees 1.0 0.0 X 0 0 0 Edward F Greene Board of trustees 1.0 0.0 X 0 0 0 Mei Lin Kwan-Gett Board of trustees 1.0 0.0 X 0 0 0 Carmen J Lawrence Board of trustees 1.0 0.0 X 0 0 0 Lance Liebman Board of trustees 1.0 0.0 X 0 0 0 James L Lipscomb Board of trustees 1.0 0.0 X 0 0 0 judge Marc Marmaro Board of Trustees 0.25 0.0 X 0 0 0 hon Angela M Mazzarelli Board of Trustees 1.0 0.0 X 0 0 0 Frederick P Schaffer Board of trustees 1.0 0.0 X 0 0 0 John S Siffert Board of trustees 1.0 0.0 X 0 0 0 hon Sidney H Stein Board of trustees 1.0 0.0 X 0 0 0 hon Elizabeth S Stong Board of trustees 1.0 0.0 X 0 0 0 Gregory C Swinehart Board of trustees 1.0 0.0 X 0 0 0 Joan G Wexler retired 0514 board of trustees 1.0 0.0 X 0 0 0 John W White Board of trustees 1.0 0.0 X 0 0 0 Kathryn Wriston Passed 0914 board of trustees 1.0 0.0 X 0 0 0 Samuel W Seymour chair of executive committee 1.0 0.0 X X 0 0 0 Ellen M Cosgrove Board of Trustees 1.0 0.0 X 0 0 0 Troy a McKenzie Board of trustees 1.0 0.0 X 0 0 0 Adrian Dollard Board of trustees 1.0 0.0 X 0 0 0 Carol Anne Been Board of Trustees 1.0 0.0 X 0 0 0 hon William F Kuntz II Board of trustees 1.0 0.0 X 0 0 0 Larry d Thompson Board of trustees 1.0 0.0 X 0 0 0 Victor J Rubino President 40.0 0.0 X 546550 0 67994 Sandra R Geller Executive Vice President 40.0 0.0 X 326268 0 64795 Anita C Shapiro Executive Vice President 40.0 0.0 X 338821 0 58108 Frank DeVivo CFO/ Treasurer 40.0 0.0 X 286281 0 57708 William Cubberley Vice President Publishing 40.0 0.0 X 223539 0 36464 Eileen C Shapiro Assistant to President 40.0 0.0 X 113365 0 39766 Kenneth Moskowitz Chief Information Officer 40.0 0.0 X 296916 0 55031 John M Mola Director of CA Operation 40.0 0.0 X 203385 0 30996 Janet Garber Chief HR Officer 40.0 0.0 X 162583 0 30338 Laura Shields Director of Programs 40.0 0.0 X 155305 0 29599 Donald F Berbary Chief Sales & Mkt. Officer 40.0 0.0 X 391499 0 31031 John Mastandrea Director, Online 40.0 0.0 X 187250 0 50737 David Schaller Executive Director of Sales 40.0 0.0 X 238876 0 53000 Christopher Rousseau Director Research 40.0 0.0 X 237829 0 40496 George M Wilson Director, SEC Institute 40.0 0.0 X 237638 0 29798 Carol A Stacey Director, SEC Institute 40.0 0.0 X 237638 0 26798 Marlene Aliza Kofman Dir. of Strategy Relationship 1.0 0.0 X 152122 0 15212 4335865 0 717871 43 true true false Structure Tone Inc 770 Broadway NEW YORK NY 100039522 Construction Service 3413607 Gasch Printing LLC 1780 Crissroads Drive ODENTON MD 10036 Print Shop 1747707 Innodata Isogen Three University Plaza HACKENSACK NJ 07611 Print Shop 1006287 Brightkey Inc 9050 Junction Drive ANNAPOLIS JUNCTION MD 21113 Fulfillment 860511 Saralux LLC 6 Aldin Lane LEVITTOWN NY 11756 IT Management 713547 24 0 PROGRAMS, SEMINARS & CONFERENCES 611600 66765795 66765795 66765795 929197 929197 0 840000 840000 30999 30999 0 30999 30999 16892322 13473534 3418788 3418788 3418788 0 0 7193464 1958848 5234616 5234616 MAILING LIST RENTALS 900099 17187 17187 E-BOOKS 900099 2146089 2146089 2163276 79382671 74986500 4396171 0 24332476 24332476 0 0 3036514 1934908 1101606 0 18586909 17389308 1197601 1531630 1316779 214851 3747139 3326958 420181 1543931 1397393 146538 1371709 1182316 189393 266847 65857 200990 205946 205946 0 0 579308 579308 738956 679961 58995 2901530 2901530 921734 897209 24525 2748070 2096550 651520 1050421 1050421 4933694 4622005 311689 810315 778112 32203 19439 19439 6132160 6132160 0 0 0 3033223 2881351 151872 408119 383123 24996 OTHER POST EMPLMT BENEFITS 626000 567765 58235 RELOCATION EXPENSES 1073950 1073950 CREDIT CARD SERVICE CHARGE 383016 383016 MESSENGER SERVICE-GENERAL 62823 62823 419284 66626 352658 81465143 75542036 5923107 0 7781637 2587169 1870548 1623374 0 0 2851912 2720083 0 0 0 0 0 0 464809 778831 1482797 1712604 49057767 31783905 16920170 17273862 43178013 39966313 37921661 39787900 0 0 0 4615000 2939340 1873590 115410887 112938726 8289550 7232730 0 0 14442077 15835389 0 0 0 0 0 0 7000000 6287037 0 0 16653005 19936820 46384632 49291976 X 69026255 63646750 0 0 0 0 69026255 63646750 115410887 112938726 X -2082472 -1525227 -1771807 X false true X true false X 0 0 0 0 0 0 47921508 53630221 59581928 64226125 74986500 300346282 0 0 0 47921508 53630221 59581928 64226125 74986500 300346282 0 0 0 300346282 1642939 1837136 1548914 1256487 1800196 8085672 0 1642939 1837136 1548914 1256487 1800196 8085672 0 38296 47935 29953 30761 17187 164132 49602743 55515292 61160795 65513373 76803883 308596086 0.97327 0.97130 0.02620 0.02802 X 15495610 22196151 4260476 11235134 12542436 14498928 9573509 2968927 21019721 20313295 17949920 3069801 17273862 HEDGE FUNDS 8460510 F LIMITED PARTERSHIPS 31327390 F 39787900 0 ACCRUED POSTRETIREMENT BENEFITS 9224000 DEFERRED RENT PAYABLE 10712820 19936820 X 54904508 -1525227 -24332476 -25857703 80762211 579308 -1958848 -1379540 79382671 58512207 1958848 1958848 56553359 579308 24332476 24911784 81465143 Schedule D, Part XI Reconciliation of revenue Line 2D: Scholarships reclassed TO PART XI - ($24,332,476) Line 4b: COGS reclassed from expense TO OFFSET SALES OF INVENTORY ON LINE 10B - (1,958,848) Schedule D, Part XII Reconciliation of expenses Line 2D: COGS reclassed from expense TO OFFSET SALES OF INVENTORY ON LINE 10B - $1,958,848 Line 4b: Scholarships reclassed TO PART XI- $24,332,476 FIN-48 Financial Statement Footnote The Institute recognizes the tax effects from an uncertain tax position in the financial statements only if the position is "more-likely-than-not" to be sustained if the position were to be challenged by a taxing authority. The assessment of the tax position is based solely on the technical merits of the position, without regard to the likelihood that the tax position may be challenged. As of December 31, 2014, management determined that there are no uncertain tax positions within its financial statements. The Institute is exempt from Federal income taxation by virtue of being an organization described in Section 501(c)(3) of the Internal Revenue Code. Nevertheless, the Institute may be subject to tax on income unrelated to its exempt purpose, unless that income is otherwise excluded by the Code. The tax years ending December 31, 2011, 2012, 2013, and 2014 are still open to audit for both Federal and state purposes. Europe (Including Iceland and Greenland) Program Services Securities Regulation 13114 East Asia and the Pacific Program Services Securities Regulation 23772 South America Program Services Securities Regulation 10769 Central America and the Caribbean Investments 8460510 8508165 8508165 true false false false false false SCHEDULE F, PART IV The Practising Law Institute holds investments in various hedge funds that are incorporated in foreign jurisdictions and various United States limited partnerships that may make investments in foreign corporations. While the Institute does have an ownership interest in a foreign corporation and is, therefore, required to mark question 3 yes, its ownership percentage may not reach the threshold required to file a Form 5471. To the extent the Institute is required to file any of the forms listed in Part IV, they will be attached to a Form 990-T filing. true Course/Program Scholarships 19946 24332476 course/program Schedule I, Part I, Line 2 Scholarships are monitored by the PLI Scholarship Committee. Scholarship applications are submitted to this committee prior to the start of the program. Applications are approved based on established criteria and notification is given to applicants prior to the start of the program. In addition, certain programs are offered free of charge to all attendees or to designated not for profit or government Institutions. X true true X X X X X false true false true false false false true false Victor J Rubino President 509889 0 25000 0 11661 0 53884 0 14110 0 614544 0 0 0 Sandra R Geller Executive Vice President 319410 0 0 0 6858 0 32570 0 32225 0 391063 0 0 0 Anita C Shapiro Executive Vice President 322717 0 15000 0 1104 0 26000 0 32108 0 396929 0 0 0 Frank DeVivo CFO/ Treasurer 283636 0 0 0 2645 0 26000 0 31708 0 343989 0 0 0 William Cubberley Vice President Publishing 219439 0 0 0 4100 0 22354 0 14110 0 260003 0 0 0 Eileen C Shapiro Assistant to President 111671 0 0 0 1694 0 11289 0 28477 0 153131 0 0 0 Kenneth Moskowitz Chief Information Officer 290008 0 0 0 6908 0 26000 0 29031 0 351947 0 0 0 John M Mola Director of CA Operation 198051 0 0 0 5334 0 19963 0 11033 0 234381 0 0 0 John Mastandrea Director, Online 186665 0 0 0 585 0 18709 0 32028 0 237987 0 0 0 David Schaller Executive Director of Sales 120005 0 118466 0 405 0 23852 0 29148 0 291876 0 0 0 Marlene Aliza Kofman Dir. of Strategy Relationship 0 0 0 0 152122 0 15212 0 0 0 167334 0 0 0 Christopher Rousseau Director Research 236653 0 0 0 1176 0 11348 0 29148 0 278325 0 0 0 Janet Garber Chief HR Officer 159692 0 0 0 2891 0 16228 0 14110 0 192921 0 0 0 Laura Shields Director of Programs 154743 0 0 0 562 0 15489 0 14110 0 184904 0 0 0 Donald F Berbary Chief Sales & Mkt. Officer 306908 0 81969 0 2622 0 0 0 31031 0 422530 0 0 0 George M Wilson Director, SEC Institute 234348 0 0 0 3290 0 0 0 29798 0 267436 0 0 0 Carol A Stacey Director, SEC Institute 236491 0 0 0 1147 0 0 0 26798 0 264436 0 0 0 Schedule J, part I, Line 1 THE INSTITUTE REIMBURSES PRESIDENT, VICTOR J. RUBINO, FOR HIS CLUB DUES. The President's club membership is used for business purposes and has been approved by the Board of Directors. Schedule J, Part I, Line 5a The Practising Law Institute paid bonuses to two individuals reported on Schedule J, David Schaller and Donald Berbary. These bonuses were granted based on the individuals meeting certain sales targets; the amounts were determined based on specific sales formula that are capped at a specific dollar limit established by the Board. Schedule J, Part I, line 7 The Practising Law Institute paid bonuses to two individuals reported on Schedule J, Victor Rubino and Anita Shapiro. Both bonuses were granted on objective performance-based metrics and approved by the Board of Directors and memorialized in the Board minutes. Neither individual had any input into the bonuses that were awarded. As noted above, all bonuses are capped at a specific dollar limit established by the Board. Schedule J, Part II, Column (B) (III) President Victor J. Rubino and Executive Vice President Sandra Geller participated in the Institute's non-qualified supplemental retirement plan. For calendar year 2014, the Institute contributed $27,884 to V. Rubino's Section 457(f) plan and $6,570 to S. Geller's Section 457(f) plan. Part 1 Line 6 Volunteer Volunteer instructional services are provided by attorneys and others in the legal profession. The value of the volunteer services has not been reflected in the financial statements as the nature of these services does not meet the criteria for recognition of contributed services under generally accepted accounting principles in the United States of America. Form 990, Part III, line 2 In 2014, Practising Law Institute acquired the programming assets of the SEC Institute, which now operates as a division of PLI. The SEC Institute is a leader in SEC compliance education and conducting workshops and seminars throughout the country with a focus on the SEC and FASB rules and regulations. The SEC Institute's goal is to help public companies in the United States and abroad do the best possible job of meeting the filing requirements of the U.S. Securities and Exchange Commission. Form 990, Part VI, Section B, Line 11 990 review process The Practising Law Institute's Form 990 was prepared by a nationally renowned accounting firm in conjunction with the organization's financial department. A copy of the draft Form 990 was circulated to the Board of Trustees after review by senior management and the audit committee. Each Board Member was provided ample opportunity to comment on the information contained in the 990 prior to its electronic filing with the Internal Revenue Service. Form 990, Part VI, Section B, Line 12 conflict of interest policy monitoring & enforcement Each director and trustee of the Practising Law Institute is required to annually disclose any conflicts of interest that arise by virtue of employment, board service, or position with the organization. Practising Law Institute monitors compliance with its conflict of interest policy through an annual questionnaire/disclosure statement that is distributed to these individuals. Potential conflicts are investigated immediately. Form 990, Part VI, Section B, Line 15 process for determining compensation Practising Law Institute undertakes a thorough process to ensure that the executive compensation it pays to its top management official and all of the officers and key employees of the organization is reasonable given the market in which it operates. In relevant part, the Board of trustees has established a Compensation Committee of independent persons that have no personal interest in the proposed compensation agreement. The compensation committee utilized benchmarking data, surveys, and other reports to derive the President's salary. The President has no decision-making authority with respect to his own compensation arrangement. The Executive Committee of the Board of Trustees, based on the recommendations from the PLI Compensation Committee, who reviews comparability data, will approve annual raises for all officers and key employees in addition to a range of salary increases for all other employees. Employees are eligible for merit increases based on performance evaluations, which are summarized and submitted to the PLI President and then reviewed by the PLI Compensation Committee. Form 990, Part VI, Section C, Line 19 availability of documents to the public The Institute makes its Form 990 available to the public by retaining a copy at its place of business. The Institute's financial statements are available on their website. The governing documents and conflict of interest policy are not ordinarily made available to the public, however, if requested, they will be provided at Institute's discretion. Form 990, Part XI, Line 9 other changes in net assets Pension Related Expenses $ 1,771,807