2023-10-17T10:55:59-05:00 2022-12-31 PWC US TAX LLP 2001 MARKET STREET SUITE 1800 PHILADELPHIA PA 19103 990 2022-01-26 881174446 BLACK INSURANCE INDUSTRY COLLECTIVE INC % JEFFREY A SCHEIDT BLAC 6106442100 720 PROVIDENCE RD MALVERN PA 19355 JEFFREY A SCHEIDT TREASURER 6106442100 2023-09-18 true JEFFREY A SCHEIDT 999009999 ALBERT N ANTONELLI P01496650 2673303000 2023-09-13 3 2022 2023-04-26 12:10:37Z X PETER L MILLER 720 PROVIDENCE RD MALVERN PA 19355 437000 false X www.thebiic.org X 2022 DE TO ACCELERATE THE ADVANCEMENT OF BLACK PROFESSIONALS IN THE INSURANCE INDUSTRY AND INCREASE REPRESENTATION OF BLACK LEADERS AT THE EXECUTIVE LEVEL 3 0 0 5 0 0 0 0 437000 0 0 0 0 0 437000 0 0 0 0 0 0 0 0 0 0 80275 0 80275 0 356725 0 396725 0 40000 0 356725 TO ACCELERATE THE ADVANCEMENT OF BLACK PROFESSIONALS IN THE INSURANCE INDUSTRY AND INCREASE THE REPRESENTATION OF BLACK LEADERS AT THE EXECUTIVE LEVEL false false IN 2022, WE DELIVERED OUR FIRST BIIC EXECUTIVE LEADERSHIP PROGRAM IN COLLABORATION WITH THE DARDEN SCHOOL FOUNDATION, LAUNCHED A SERIES OF WEBINARS FOCUSED ON EXECUTIVE LEADERSHIP AND EARLY CAREER WITHIN THE RISK AND INSURANCE INDUSTRY, HELD THOUGHT LEADERSHIP AND NETWORKING EVENTS, AND HOSTED A ROUNDTABLE EVENT FOR SPONSOR ORGANIZATIONS. false false false false false false false false false false false false false false false false true false false false false false false false false false false false true false false false false false false false false false false false true false false true 0 0 0 false false false false false false false false X 3 0 false false false false true true true true true false false true true true true true true false false false JEFFREY A SCHEIDT 6106442100 720 PROVIDENCE ROAD MALVERN PA 19355 PETER L MILLER CHAIRMAN 2.0 51.0 X X 0 2444478 214918 KATHERINE E HOROWITZ SECRETARY 2.0 51.0 X X 0 762188 58285 JEFFREY A SCHEIDT TREASURER 2.0 51.0 X X 0 448924 65035 0 3655590 338238 0 false true false 0 0 EDUCATIONAL EVENTS 611430 437000 437000 0 0 437000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 437000 437000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 SHARED RESOURCE SERVICES 80275 80275 80275 80275 X 0 2000 0 0 0 0 0 394725 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 396725 0 0 0 0 0 40000 0 0 0 0 0 0 0 0 0 0 0 0 0 40000 X 0 356725 0 0 0 356725 0 396725 356725 X false true X true false false true false PETER L MILLER CHAIRMAN 0 1032785 903120 508573 198800 16118 0 2659396 KATHERINE E HOROWITZ SECRETARY 0 474647 280000 7541 43300 14985 0 820473 JEFFREY A SCHEIDT TREASURER 0 341548 105000 2376 48800 16235 0 513959 FORM990, SCHEDULE J, PART I, LINE 3 AS PROVIDED IN THE FORM 990, SCHEDULE J INSTRUCTIONS, SINCE THE ORGANIZATION RELIES ON A RELATED ORGANIZATION, WHICH USES ONE OR MORE OF THE METHODS DESCRIBED ON LINE 3 TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION, THIS QUESTION HAS BEEN LEFT UNANSWERED. REFER TO SCHEDULE O FOR A DESCRIPTION OF THE COMPENSATION REVIEW AND APPROVAL PROCESS. FORM 990, SCHEDULE J, PART I, LINE 4B A RELATED ORGANIZATION, THE AMERICAN INSTITUTE FOR CHARTERED PROPERTY CASUALTY UNDERWRITERS, MAINTAINS A SUPPLEMENTAL NONQUALIFIED RETIREMENT PLAN (THE "PLAN") SUBJECT TO INTERNAL REVENUE CODE SECTION 457(F). UNDER THE PLAN, THE ENTIRE ACCRUED BENEFIT BECOMES 100% VESTED AFTER 3 YEARS OF SERVICE. PARTICIPANTS MUST REMAIN IN CONTINUOUS EMPLOYMENT FOR TWELVE (12) CONSECUTIVE MONTHS TO RECEIVE CREDIT FOR ONE (1) YEAR OF SERVICE. AN ACCRUED BENEFIT UNDER THE PLAN SHALL BE DISTRIBUTED ON THE DATE OR DATES ON WHICH THE ACCRUED BENEFIT BECOMES VESTED. TERMINATION OF SERVICES WILL RESULT IN FORFEITURE. PETER MILLER ACCRUED A BENEFIT OF $150,000 UNDER THE PLAN DURING CALENDAR YEAR 2022 AND THIS AMOUNT IS INCLUDED ON SCHEDULE J, PART II. ADDITIONALLY, MR. MILLER RECEIVED A DISTRIBUTION FROM THE PLAN IN THE AMOUNT OF $506,197, WHICH REPRESENTS THE AMOUNT THAT BECAME VESTED IN 2022. THIS AMOUNT IS INCLUDED IN SCHEDULE J, PART II, COLUMN (B)(III). FORM 990, PART VI, SECTION A LINES 6, 7A, AND 7B THE AMERICAN INSTITUTE FOR CHARTERED PROPERTY CASUALTY UNDERWRITERS ("THE INSTITUTES") AND THE BLACK INSURANCE INDUSTRY COLLECTIVE ("BIIC") ENTERED INTO AN AFFILIATION AGREEMENT AND A SHARED RESOURCES AGREEMENT ("SRA") EFFECTIVE JANUARY 26, 2022. THE INSTITUTES PROVIDES MANAGEMENT AND ADMINISTRATIVE SERVICES TO THE BIIC IN ACCORDANCE WITH WRITTEN BYLAWS, OPERATING GUIDELINES AND PROCEDURES, BUDGT, AND PROVIDES CERTAIN SERVICES AS PRESCRIBED BY THE SRA. FORM 990, PART VI, SECTION A, LINE 6 THE BIIC HAS 19 SPONSORS. FORM 990, PART VI, SECTION A, LINES 7A AND 7B THE BIIC'S INSTITUTIONAL MEMBER, THE INSTITUTES, APPOINTS THE DIRECTORS OF THE BIIC AND APPROVES ANY EXTRAORDINARY ACTIVITIES (MERGERS, DISSOLUTIONS, ETC.). FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND REVIEWED BY THE BOARD OF DIRECTORS FOR APPROVAL BEFORE FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO ALL OFFICERS, DIRECTORS, AND KEY EMPLOYEES ("COVERED OFFICIALS) ON AN ANNUAL BASIS. EACH COVERED OFFICIAL MUST COMPLETE AN ANNUAL CONFLICT OF INTEREST STATEMENT OF DISCLOSURE. IF A CONFLICT IS IDENTIFIED, IT IS EVALUATED AND MAY BE APPROVED IF IT IS DETERMINED TO BE JUST, FAIR, AND REASONABLE TO THE ORGANIZATION. IF IT IS DETERMINED THAT THE CONFLICT IS NOT JUST, FAIR, AND REASONABLE TO THE ORGANIZATION, APPROPRIATE ACTION IS TAKEN TO ELIMINATE THE CONFLICT, WHICH CAN INCLUDE ASKING THE INDIVIDUAL TO END A CONFLICTING BUSINESS ARRANGEMENT, RETURN REMUNERATION TO THE ORGANIZATION, OR OTHERWISE DISCONTINUE THE ARRANGEMENT CAUSING THE CONFLICT. FORM 990, PART VI, SECTION C, LINE 15 THIS ORGANIZATION IS AN AFFILIATE OF THE AMERICAN INSTITUTE FOR CHARTERED PROPERTY CASUALTY UNDERWRITERS ("THE INSTITUTES"). COMPENSATION ARRANGEMENTS INVOLVING ANY OF THE ORGANIZATION'S OFFICERS AND/OR KEY EMPLOYEES ARE ESTABLISHED BY THE INSTITUTES PURSUANT TO A PROCESS THAT SATISFIES THE REBUTTABLE PRESUMPTION PROCEDURE AVAILABLE FOR THE IRC SECTION 4958 EXCESS BENEFIT TRANSACTION TAX PURPOSES, WHICH REQUIRES A REVIEW OF COMPENSATION DETERMINATIONS BY DISINTERESTED PERSONS, USE OF APPROPRIATE COMPARABILITY DATA, AND CONTEMPORANEOUS DOCUMENTATION OF THE PROCESS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE UPON WRITTEN REQUEST. 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DE 501(C)(6) N/A AICPCU false RISK KNOWLEDGE GROUP 720 PROVIDENCE ROAD MALVERN PA 19355 844623544 EDUCATION DE AICPCU C CORP false IIS LONDON LTD THE ST BOTOLPH BUILDING 138 HOUNDSDITCH UK EC3A 7AR EDUCATIONAL UK IIS C CORP false IIS GLOBAL INSURANCE LTD 9 TEMASK BOULEVARD SUNTEC TOWER TWO SN 038989 EDUCATIONAL SN IIS C CORP false RISKSTREAM GLOBAL INITIATIVES 720 PROVIDENCE ROAD MALVERN PA 19355 844685676 INSURANCE DE AICPCU C CORP false RISKSTREAM LABS 720 PROVIDENCE ROAD MALVERN PA 19355 844706483 INSURANCE DE AICPCU C CORP false TI TRAVEL INC 720 PROVIDENCE ROAD MALVERN PA 19355 844623544 INSURANCE DE AICPCU C CORP false false false false false false false false false false false false false false false false false false true false