2014-05-15T11:22:27-05:00 2013-12-31 420714325 MCGLADREY LLP 1185 AVENUE OF THE AMERICAS NEW YORK NY 100362602 990 2013-01-01 135585375 THE PROVIDENT LOAN SOCIETY OF NEW YORK PROV 2126850380 346 PARK AVENUE SOUTH NEW YORK NY 100101708 ISAAC P RODRIGUEZ PRESIDENT & CEO 2126850380 2014-05-15 1 MARTIN GREIF P00029738 2123721000 2013 2015-11-30 17:44:51Z ISAAC P RODRIGUEZ 346 PARK AVENUE SOUTH NEW YORK NY 100101708 6293888 0 X WWW.PROVIDENTLOAN.COM X 1894 NY TO AID PERSONS IN NEED OF PECUNIARY ASSISTANCE 10 9 34 10 0 0 0 0 6774035 5948088 379 659 374719 345141 7149133 6293888 0 0 0 0 2780317 2837257 0 0 0 2197720 2433477 4978037 5270734 2171096 1023154 24402977 21219375 13607354 8208965 10795623 13010410 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 3282287 5948088 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 2013 = 35,000 3282287 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 1 0 0 0 0 0 0 0 0 1 6 0 1 34 1 0 0 0 0 0 0 X 10 9 0 0 0 0 0 0 0 1 1 0 1 1 1 1 1 1 1 1 1 1 0 X SEAN BRENNAN 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 TRUSTEE 0.30 X 0 0 0 JAMES J DALY THRU 12312013 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 JAMES J MAGUIRE THRU 112013 PRESIDENT & CEO 35.00 X 180580 0 53680 ISAAC P RODRIGUEZ PRESIDENT & CEO (FROM 11/2013) 35.00 X 20192 0 730 JOHN T HIGNEY VP & COO 35.00 X 111842 0 37223 SEAN F BRENNAN VP & CFO 35.00 X 106343 0 37258 THEODORE C FISHER ASSISTANT SECRETARY 35.00 X 83981 0 15429 LINDA FLAKE VICE PRESIDENT 35.00 X 99903 0 26078 ANTHONY LORE ASSISTANT SECRETARY 35.00 X 84279 0 14247 687120 0 184645 3 0 1 0 0 INTEREST EARNED ON LOA 522299 5369050 5369050 STORAGE FEE INCOME 522299 408282 408282 TICKET FEE INCOME 522299 170756 170756 5948088 659 659 345141 0 345141 345141 345141 6293888 5948088 0 345800 844367 409690 434677 1207637 565880 641757 338728 181365 157363 278280 163120 115160 168245 91082 77163 265855 195335 70520 18456 18456 46941 46941 570120 570120 149851 127923 21928 378824 268656 110168 220593 220593 80582 22682 57900 213742 162510 51232 OTHER EXPENSES 268871 94222 174649 AUCTION SALES LOSSES 124632 124632 REPAIRS & MAINTENANCE 95010 84477 10533 5270734 3282287 1988447 0 552926 500531 363653 455082 19833707 16966021 121710 177340 2514221 1483535 1015735 1030686 102171 101926 47720 47479 2365355 1940310 24402977 21219375 211167 249685 8450000 4700000 4946187 3259280 13607354 8208965 X 10795623 13010410 10795623 13010410 24402977 21219375 X 1023154 1191633 X 0 1 X 1 0 377975 377975 1444785 911487 533298 152170 145060 7110 507791 411238 96553 31500 15750 15750 1030686 ACCRUED INTEREST ON LOANS 1550901 TICKET FEES RECEIVABLE 89903 STORAGE FEES RECEIVABLE 214916 RENTALS RECEIVABLE 84590 1940310 EXCESS OF PROCEEDS FROM AUCTION SALES OVER LOANS 1501688 LIABILITY FOR POST-RETIREMENT WELFARE BENEFITS 1423039 ACCRUED PENSION BENEFIT OBLIGATION 185148 SECURITY DEPOSIT PAYABLE 149405 3259280 X 7485521 1191633 1191633 6293888 0 6293888 5270734 0 5270734 0 5270734 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 2010, WHICH IS THE STANDARD STATUTE OF LIMITATIONS LOOK-BACK PERIOD. PART XI, LINE 2D - OTHER ADJUSTMENTS: CHANGE IN PENSION & OTHER POSTRETIREMENT CHGS OTHER THAN NET PERIODIC COSTS 1,191,633. X 0 0 0 0 0 0 0 1 0 JAMES J MAGUIRE THRU 112013 PRESIDENT & CEO 175580 0 5000 0 0 0 36118 0 17562 0 234260 0 0 0 PART I, LINE 7 THE FOLLOWING INDIVIDUALS, LISTED ON PART VII, RECEIVED NON-FIXED PAYMENTS IN THE FORM OF BONUSES DURING THE YEAR ENDED 12/31/13: JAMES J. MAGUIRE - $5,000 JOHN T. HIGNEY - $4,000 SEAN BRENNAN - $4,000 THEODORE C. FISHER - $3,000 LINDA FLAKE - $4,000 ANTHONY LORE - $3,000 R KLOTZ TRUSTEE 0 THE ORGANIZATION HAS AN AVAILABLE LINE OF CREDIT AGGREGATING $7,000,000, OF WHICH THERE WERE OUTSTANDING BORROWINGS OF $4,700,000 AT 12/31/13. AT THE BEGINNING OF THE YEAR THE BALANCE WAS $7,000,000. INTEREST EXPENSE ON THE LOAN DURING THE YEAR WAS APPROXIMATELY $197,000. A TRUSTEE OF THE ORGANIZATION IS ALSO A PARTNER OF THE LENDING BANK. 0 FORM 990, PART VI, SECTION B, LINE 11 THE CFO 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 CONFLICTS OF INTEREST STATEMENTS. THEY ALSO DISCLOSE ALL RELATIONSHIPS BETWEEN THEM AND THE BUSINESS ORGANIZATIONS CONDUCTING BUSINESS WITH THE SOCIETY. ANY CONFLICTS ARE PRESENTED TO AND RESOLVED BY 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 OFFICER'S 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 SIMILAR NOT-FOR-PROFIT ORGANIZATIONS, DERIVED 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. 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 1,191,633.