2013-11-13T09:25:49-06:00 2012-12-31 232932984 PARENTEBEARD LLC 100 WALNUT AVENUE SUITE 200 CLARK NJ 07066 990 2012-01-01 132940919 ACORD CORPORATION ACOR 8456201700 ONE BLUE HILL PLAZA 15TH FLOOR PEARL RIVER NY 10965 GREGORY A MACIAG 8456201700 2013-10-24 1 THOMAS SPYCHALSKI P00002333 7323885210 2012 2016-02-25 16:41:14Z GREGORY MACIAG ONE BLUE HILL PLAZA 15TH FLOOR PEARL RIVER NY 10965 25415392 0 X WWW.ACORD.ORG X 1978 DE THE ASSOCIATION FOR COOPERATIVE OPERATIONS RESEARCH AND DEVELOPMENT ("ACORD") IS A NOT-FOR-PROFIT ASSOCIATION ORGANIZED 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 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. 25 24 61 0 0 0 14035637 13997220 3560913 3354719 1187896 1399539 10000 2169 18794446 18753647 0 0 0 0 10164902 11433433 0 0 0 7468907 8223550 17633809 19656983 1160637 -903336 30569957 31820750 6703139 7570076 23866818 24250674 X THE ASSOCIATION FOR COOPERATIVE OPERATIONS RESEARCH AND DEVELOPMENT ("ACORD") IS A NOT-FOR-PROFIT ASSOCIATION ORGANIZED 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 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 19656983 18753647 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 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. SEE ORGANIZATION'S PRIMARY EXEMPT PURPOSE 19656983 0 0 0 1 0 0 0 0 0 1 1 0 0 0 0 1 0 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 39 0 1 61 1 0 1 UK BE 0 0 0 0 X 25 24 0 0 0 0 1 1 1 1 1 0 0 1 1 1 1 1 1 1 1 0 CA X TAXPAYER AS ADDRESSED 8456201700 ONE BLUE HILL PLAZA 15TH FLOOR PEARL RIVER NY 10965 GREGORY MACIAG 40.00 X X 917000 0 90991 JOHN KELLINGTON 1.00 X 0 0 0 JOHN LEONARD 1.00 X 0 0 0 DAVID FINDLEY 1.00 X 0 0 0 LAWRENCE BLAKEMAN 1.00 X 0 0 0 SAL BRANCA 1.00 X 0 0 0 JEREMY COOKE 1.00 X 0 0 0 ANDY FOGARTY 1.00 X 0 0 0 ALESSANDRO IUPPA 1.00 X 0 0 0 JAMES KNIGHT 1.00 X 0 0 0 BARBARA KOSTER 1.00 X 0 0 0 FRANK LIU 1.00 X 0 0 0 DENNIS MAHONEY 1.00 X 0 0 0 WILLIAM PIERONI 1.00 X 0 0 0 KEITH SAVINO 1.00 X 0 0 0 ROBERT SLOCUM 1.00 X 0 0 0 ART JETTER 1.00 X 0 0 0 ROBERT KELLY 1.00 X 0 0 0 MARKUS SCHMID 1.00 X 0 0 0 STEVE BETTS 1.00 X 0 0 0 AL LAGANA 1.00 X 0 0 0 ACHIM STEGNER 1.00 X 0 0 0 MARK ESPOSITO 1.00 X 0 0 0 ROBERT HUMPHREYS 1.00 X 0 0 0 SAMUEL MEDINA 1.00 X 0 0 0 GARY BEL 40.00 X 278104 0 70118 ROYSTON LAKER 40.00 X 219492 0 20916 LLOYD CHUMBLEY 40.00 X 220000 0 57009 TANYA KROCHTA 40.00 X 255000 0 58243 BETH GROSSMAN 40.00 X 218663 0 42107 ANN HENSTRAND 40.00 X 205158 0 43911 SHANE MCCULLOUGH 40.00 X 189750 0 46856 JEANNINE PURVIS 40.00 X 136250 0 17169 PETER TERESI 40.00 X 168001 0 36938 2807418 0 484258 34 0 1 0 BURTREE CONSULTING LTD BURTREE COTTAGE HEBDEN ROAD GRASSINGTON YORKSHIRE UK BD23 5LH CONSULTANT 243466 FRANCIS CHUNG 12911 RAILWAY AVE 209 RICHMOND CA V7E6L8 CONSULTANT 209009 WENDY INGHAM 10 CROSS STREET MIRANDA AS NSW 2228 CONSULTANT 174709 KORI MARIE JOHNASON 68 HOLCOMB STREET EAST GRANBY CT 06026 CONSULTANT 152594 HUBBARD DECISION RESEARCH 2 SOUTH 410 CANTERBURY COURT GLEN ELLYN IL 60137 CONSULTANT 144968 5 13997220 13997220 PRODUCT AND OTHER SERVICES 900099 1657891 1657891 PARTICIPATION FEES 900099 996373 996373 SUBSCRIPTION FEES 900099 634458 634458 MISC INCOME- CONF 900099 34157 34157 MISC INCOME- AIF 900999 17340 17340 14500 14500 3354719 873048 873048 7188236 6661745 526491 526491 526491 MISCELLANEOUS INCOME 900099 2169 2169 2169 18753647 4756427 0 0 2807418 5120198 1719314 1216120 570383 325684 76182 246114 38818 802752 625351 1260284 623590 1671961 362352 227423 CONSULTING FEES 1563956 PRINTING 245092 LICENSES AND DUES 122949 DISTRIBUTION 19061 11981 19656983 691057 801949 27624240 18799719 777999 943149 24667 11725 618054 1280299 5196998 4652513 792295 544485 9397779 41645 41645 30569957 31820750 4674883 5387966 2028256 2182110 6703139 7570076 X 18833395 18558897 5033423 5691777 23866818 24250674 30569957 31820750 -903336 1287192 0 X 0 1 X 1 0 0 0 0 13997220 460262 375867 84395 3850571 3430279 420292 886165 846367 39798 544485 MUTUAL FUNDS INTERNATIONAL 1668838 F MUTUAL FUNDS OTHER 4476463 F MUTUAL FUNDS LARGE CAP 1353418 F MUTUAL FUNDS MID CAP 948879 F MUTUAL FUNDS SMALL CAP 950181 F 9397779 20040839 1287192 1287192 18753647 0 18753647 19656983 0 19656983 0 19656983 FIN 48 DISLOSURE- ACORD ACCOUNTS FOR UNCERTAINTY IN INCOME TAXES USING A RECOGNITION THRESHOLD OR 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 DETERMINED THERE WERE NO TAX UNCERTAINTIES THAT MET THE RECOGNITION THRESHOLD IN 2012. ACORD'S FEDERAL INFORMATION TAX RETURNS(FORMS 990) FOR THE YEARS ENDED DECEMBER 31, 2011, 2010, AND 2009 REMAIN SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE. BELGIUM 0 0 PROGRAM SERVICES MISSION STATEMENT 1999 UNITED KINGDOM 1 6 PROGRAM SERVICES MISSION STATEMENT 1837528 1 6 0 0 1 6 1839527 0 1839527 0 0 0 0 0 0 X 1 1 X X X X X 0 0 0 GREGORY MACIAG 445000 0 472000 0 0 0 0 0 90991 0 1007991 0 0 0 GARY BEL 237482 0 40622 0 0 0 0 0 70118 0 348222 0 0 0 ROYSTON LAKER 184447 0 35045 0 0 0 0 0 20916 0 240408 0 0 0 LLOYD CHUMBLEY 200000 0 20000 0 0 0 0 0 57009 0 277009 0 0 0 TANYA KROCHTA 200000 0 55000 0 0 0 0 0 58243 0 313243 0 0 0 BETH GROSSMAN 183750 0 34913 0 0 0 0 0 42107 0 260770 0 0 0 ANN HENSTRAND 186507 0 18651 0 0 0 0 0 43911 0 249069 0 0 0 SHANE MCCULLOUGH 165000 0 24750 0 0 0 0 0 46856 0 236606 0 0 0 JEANNINE PURVIS 125000 0 11250 0 0 0 0 0 17169 0 153419 0 0 0 PETER TERESI 150000 0 18001 0 0 0 0 0 36938 0 204939 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 YES, MEMBERS FORM 990, PART VI, SECTION A, LINE 7A YES, MEMBERS FORM 990, PART VI, SECTION A, LINE 7B 1)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. 2)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. 3)A BOARD OF DIRECTORS' RECOMMENDATION TO ACORD MEMBERS THAT A MEMBER BE EXPELLED FOR ANY REASON REQUIRES THE APPROVAL OF 3/4 OF ACORD MEMBERS ELIGIBLE TO VOTE ON SUCH MATTER WHO ARE PRESENT AND VOTING AT ANY REGULAR OR SPECIAL MEETING OF ACORD TO WHICH SUCH RECOMMENDATION IS PRESENTED. 4)A BOARD OF DIRECTORS' DECISION TO DISSOLVE ACORD IS SUBJECT TO A VOTE OF NOT LESS THAN 2/3 OF ACORD MEMBERS ELIGIBLE TO VOTE ON SUCH MATTER AT A MEETING AT WHICH DISSOLUTION IS ANNOUNCED AS ITS SUBJECT. FORM 990, PART VI, SECTION B, LINE 11 ACORD PROVIDES THE FORM 990 TO THE AUDIT COMMITTEE AND COMMENTS ARE REQUESTED BEFORE IT IS FILED. FORM 990, PART VI, SECTION B, LINE 12C RESPONSES BY THE ORGANIZATION'S DIRECTORS (REGARDING NON-TRANSACTION-SPECIFIC MATTERS), OFFICERS AND KEY EMPLOYEES TO 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 APPREARANCE 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 ORGANIZTION 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 REQURES A VOTE OF THE BOARD OR ONE OF ITS COMMITTEES, THE PRESIDENT OR CHAIR DOES NOT VOTE ON THE MATTER. THE ORGANIZATION HAS A FORMAL PROCESS IN PLACE IN 2012 FOR ANNUALLY POLLING DIRECTORS, OFFICERS, AND KEY EMPLOYEES ABOUT CONFLICT OR POSSIBLE CONFLICT DISCLOSURE. FORM 990, PART VI, SECTION B, LINE 15 EVERY FEW YEARS THE HUMAN RESOURCE DEPARTMENT GENERATES A SALARY COMPARISON BY POSITION BASED UPON INFORMATION FROM THE US DEPARTMENT OF LABOR, OUTSIDE COMPANIES AND INTERNET RESEARCH REGARDING SIMILAR POSITIONS IN OTHER ORGANIZATIONS. THE COMPANY WILL ALSO UTILIZE THE SERVICES OF INDEPENDENT CONSULTANTS TO PERFORM A COMPLETE SALARY REVIEW OF THE SENIOR MANAGEMENT TEAM AND OTHER OFFICERS AND EMPLOYEES. 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 AND THE FINANCIAL STATEMENT AVAILABLE TO THE PUBLIC.