2013-11-12T13:08:30-06:00 2012-12-31 420714325 MCGLADREY LLP 1185 AVENUE OF THE AMERICAS NEW YORK NY 100362602 990 2012-01-01 135585375 THE PROVIDENT LOAN SOCIETY OF NEW YORK PROV 2126850380 346 PARK AVENUE SOUTH NEW YORK NY 100101708 JAMES J MAGUIRE 2126850380 2013-11-12 1 MARTIN GREIF P00029738 2123721000 2012 2016-02-24 21:20:13Z JAMES J MAGUIRE 346 PARK AVENUE SOUTH NEW YORK NY 100101708 7149133 0 X WWW.PROVIDENTLOAN.COM X 1894 NY TO AID PERSONS IN NEED OF PECUNIARY ASSISTANCE 10 9 35 12 0 0 0 0 5883991 6774035 208 379 374880 374719 6259079 7149133 0 0 0 0 3039202 2780317 0 0 0 2395870 2197720 5435072 4978037 824007 2171096 23639104 24402977 14910663 13607354 8728441 10795623 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 3113796 6774035 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 2012 = 39,000 3113796 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 8 0 1 35 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 0.00 X X 0 0 0 JOHN A MORGAN THRU 512 0.00 X 0 0 0 THATCHER M BROWN III 0.00 X 0 0 0 JAMES J DALY 0.00 X 0 0 0 GEORGE DEWEY 0.00 X 0 0 0 JANE G GRIMES 0.00 X 0 0 0 RADFORD W KLOTZ 0.00 X 0 0 0 TROLAND S LINK 0.00 X 0 0 0 EDWARD D PARDOE III 0.00 X 0 0 0 AUSTIN V SHAPARD 0.00 X X 0 0 0 REBECCA LINDSEY 0.00 X 0 0 0 JAMES J MAGUIRE 35.00 X 157059 0 46799 JOHN T HIGNEY 35.00 X 108802 0 34887 SEAN BRENNAN 35.00 X 103882 0 34726 ROBERT INGELLIS THRU 312 35.00 X 30580 0 20040 VINCENT PIPOLO THRU 312 35.00 X 20894 0 5558 THEODORE C FISHER 35.00 X 77563 0 14740 LINDA FLAKE 35.00 X 81038 0 23778 ANTHONY LORE 35.00 X 74577 0 14275 654395 0 194803 3 0 1 0 0 INTEREST EARNED ON LOA 900099 6127118 6127118 STORAGE FEES INCOME 900099 457946 457946 TICKET FEES INCOME 900099 188971 188971 6774035 379 379 374719 0 374719 374719 374719 7149133 6774035 0 375098 911747 454694 457053 1080727 520463 560264 380610 206157 174453 241443 142251 99192 165790 92406 73384 37380 37380 22178 22178 54403 54403 594937 594937 189885 165213 24672 343531 235469 108062 331893 331893 78209 27349 50860 184396 136699 47697 OTHER EXPENSES 199733 101143 98590 REPAIRS & MAINTENANCE 137324 81271 56053 AUCTION SALES LOSSES 23851 23851 4978037 3113796 1864241 0 352133 552926 45851 363653 20141098 19833707 126445 121710 2418686 1402951 671961 1015735 102416 102171 47961 47720 2151239 2365355 23639104 24402977 163000 211167 9050000 8450000 5697663 4946187 14910663 13607354 X 8728441 10795623 8728441 10795623 23639104 24402977 X 2171096 -103914 X X 0 1 X 1 0 377975 377975 1384428 874668 509760 144270 144270 0 512013 384013 128000 1015735 ACCRUED INTEREST ON LOANS 1931132 TICKET FEES RECEIVABLE 101303 STORAGE FEES RECEIVABLE 244835 RENTALS RECEIVABLE 88085 2365355 EXCESS OF PROCEEDS FROM AUCTION SALES OVER LOANS 1648566 LIABILITY FOR POST-RETIREMENT WELFARE BENEFITS 1419749 ACCRUED PENSION BENEFIT OBLIGATION 1727981 SECURITY DEPOSIT PAYABLE 149891 4946187 X 7149133 0 7149133 0 7149133 5081951 103914 103914 4978037 0 4978037 DESCRIPTION OF UNCERTAIN TAX POSITIONS UNDER FIN 48: 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 2009, 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 103,914. X 0 0 0 0 0 0 0 1 0 JAMES J MAGUIRE 152059 0 5000 0 0 0 31412 0 15387 0 203858 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 12/31/12: JAMES J. MAGUIRE - $5,000 JOHN T. HIGNEY - $4,000 SEAN BRENNAN - $4,000 THEODORE C. FISHER - $3,000 LINDA FLAKE - $4,000 VANCE FULGHAM - $3,000 ANTHONY LORE - $3,000 R KLOTZ TRUSTEE THE ORGANIZATION HAS AN AVAILABLE LINE OF CREDIT AGGREGATING $7,000,000, OF WHICH THERE WERE OUTSTANDING BORROWINGS OF $7,000,000 AT 12/31/12. AT THE BEGINNING OF THE YEAR THE BALANCE WAS $6,500,000. INTEREST PAID ON THE LOAN DURING THE YEAR WAS APPROXIMATELY $231,000. A TRUSTEE OF THE ORGANIZATION IS ALSO A PARTNER OF THE LENDING BANK. 0 FORM 990, PART VI, SECTION B, LINE 11 THE SOCIETY'S FORM 990 IS DISTRIBUTED TO ALL MEMBERS OF THE BOARD OF DIRECTORS AND IS REVIEWED VIA TELEPHONE CONFERENCE CALL 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 ANNUALLY, AT THE NOVEMBER MEETING, THE BOARD OF TRUSTEES SETS THE COMPENSATION AMOUNTS FOR EACH OFFICER, INCLUDING THE PRESIDENT. CONTEMPORANEOUS SUBSTANTIATION OF THE DELIBERATION AND DECISION OF COMPENSATION IS DOCUMENTED IN THE BOARD MINUTES. THE BOARD RECEIVES, FROM THE PRESIDENT, A SCHEDULE OF THE OFFICERS' SALARIES FOR THE PAST TWO YEARS, THE LAST SALARY INCREASE GRANTED, AND A PROPOSED INCREASE FOR THE COMING YEAR, WHICH IS USED FOR BUDGETARY PURPOSES. THE MEASURES USED IN EVALUATING EMPLOYEE COMPENSATION ARE CURRENT SALARY, SUPERVISOR'S EVALUATIONS, LENGTH OF SERVICE WITH THE SOCIETY, AND THE CURRENT FINANCIAL POSITION OF THE SOCIETY. 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. CHANGES IN NET ASSETS OR FUND BALANCES: FORM 990, PART XI, LINE 9: CHANGE IN PENSION & OTHER POSTRETIREMENT CHGS OTHER THAN NET PERIODIC COSTS -103,914. AUDIT COMMITTEE RESPONSIBILITY FORM 990, PART XII, LINE 2C THE AUDIT COMMITTEE ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF THE SOCIETY'S FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT.