2023-08-30T09:11:57-05:00 2022-12-31 341874260 CBIZ MHM LLC 700 WEST 47TH STREET SUITE 1100 KANSAS CITY MO 64112 990 2022-01-01 431601552 WSIA EDUCATION FOUNDATION WSIA 8167413910 4131 N MULBERRY DRIVE 200 KANSAS CITY MO 64116 BRADY R KELLEY SECRETARY 8167413910 2023-08-29 1 BRADY KELLEY XXX-XX-XXXX 0 LISA BURKE P00220718 8169455500 2023-08-29 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z BRADY R KELLEY 4131 N MULBERRY DRIVE 200 KANSAS CITY MO 64116 1894273 0 X WWW.WSIA.ORG X 1991 MO SEE SCHEDULE O.THE WSIA EDUCATION FOUNDATION SUPPORTS THE WSIA EDUCATION PROGRAMS; CHAMPIONS THE ASSOCIATE IN SURPLUS LINES INSURANCE (ASLI) DESIGNATION PROGRAM; SUPPORTS THE AM BEST COMPANY'S ANNUAL REVIEW OF THE SURPLUS LINES SEGMENT; ADMINISTERS STUDENT-FOCUSED EDUCATIONAL PROGRAMS, SYMPOSIUMS, AND SCHOLARSHIPS; AND ATTRACTS NEW TALENT TO THE INDUSTRY THROUGH UNIVERSITY OUTREACH IN COLLABORATION WITH WSIA. 18 17 0 0 0 0 451085 587034 133145 212655 430743 407439 0 -27043 1014973 1180085 1115000 104375 0 0 0 0 0 0 0 505194 659550 1620194 763925 -605221 416160 14884346 13384853 911530 946546 13972816 12438307 X SEE SCHEDULE O.THE WSIA EDUCATION FOUNDATION IS DEDICATED TO ENCOURAGING THE EDUCATIONAL DEVELOPMENT OF ALL THOSE INTERESTED IN THE EXCESS AND SURPLUS LINES BUSINESS, TO CREATING AN UNDERSTANDING, AND OVERCOMING THE MISPERCEPTIONS OF THE EXCESS AND SURPLUS LINES MARKET. THE FOUNDATION'S WORK INCLUDES THE FINANCIAL SUPPORT OF THE EDUCATION PROGRAMS FOR WSIA MEMBERS; MAINTAINING AND IMPROVING THE ASSOCIATE IN SURPLUS LINES INSURANCE (ASLI) DESIGNATION PROGRAM, WHICH FURTHERS THE EDUCATIONAL OPPORTUNITIES FOR MEMBERS INDUSTRY PROFESSIONALS; SUPPORTING OF THE AM BEST COMPANY'S ANNUAL REVIEW OF THE SURPLUS LINES SEGMENT, WHICH IS A VALUABLE TOOL FOR THE INDUSTRY; ADMINISTERING STUDENT-FOCUSED EDUCATIONAL PROGRAMS, SYMPOSIUMS AND SCHOLARSHIP TO ENCOURAGE, SUPPORT AND REWARD EXCEPTIONAL STUDENTS INTERESTED IN AN INSURANCE CAREER; AND SIGNIFICANT UNIVERSITY OUTREACH TO ATTRACT BRIGHT NEW TALENT TO THE INDUSTRY. 0 0 47246 0 0 THE ORGANIZATION UNDERWRITES THE RESEARCH AND PUBLICATION OF THE ANNUAL REVIEW ON THE SURPLUS LINES INDUSTRY. THE FIRST EDITION WAS RELEASED IN THE FALL OF 1994 AND A NEW EDITION IS RELEASED EACH YEAR. THIS PUBLICATION HAS BECOME THE MOST QUOTED SOURCE ON SURPLUS LINES INSURANCE AND PROVIDES A GREAT DEAL OF POSITIVE INSIGHTFUL INFORMATION ABOUT THIS SEGMENT OF THE INSURANCE INDUSTRY. IN ADDITION, THE ORGANIZATION PROVIDES A GRANT FOR THE ANNUAL AM BEST WEBINAR THAT IS CONDUCTED EACH FALL WHICH INCLUDES A PANEL OF INDUSTRY LEADERS IN THE SURPLUS LINES SECTOR OF THE U.S. INSURANCE MARKET. THE PANEL REVIEWS THE MARKET AND PROVIDES A HIGHLIGHT OF THE NEWEST EDITION OF THE REPORT. 221252 25375 THE ORGANIZATION SPONSORS 5 COLLEGE EXTREME RISK TAKERS SYMPOSIUMS EACH YEAR AT VARIOUS GEOGRAPHICAL LOCATIONS. THE ORGANIZATION IS ALSO A SUSTAINING PARTNER FOR THE GAMMA IOTA SIGMA, AN INTERNATIONAL RISK MANAGEMENT INSURANCE AND ACTUARIAL SCIENCE COLLEGIATE FRATERNITY, THAT SERVES OVER 4,000 STUDENT MEMBERS AND FACULTY FROM 76 CHAPTERS BY PROVIDING PROFESSIONAL DEVELOPMENT AND EDUCATIONAL OPPORTUNITIES. THE ORGANIZATION HAS ALSO PLEDGED $1 MILLION TO THE WSIA DIVERSITY FOUNDATION, THE CHARITABLE FOUNDATION FOR THE WHOLESALE, SPECIALTY, AND SURPLUS LINES INDUSTRY WHOSE SOLE PURPOSE IS TO PROMOTE DIVERSITY IN THE AREAS OF RACE, GENDER, SEXUAL ORIENTATION, DISABILITY, ETC., ATTRACT DIVERSE TALENT, AND INFLUENCE MEANINGFUL PROGRESS IN THE DIVERSITY OF THE WSIA MEMBERSHIP AND ITS TALENT PIPELINE. 302233 188592 THE ORGANIZATION SUPPORTS THE ASSOCIATE IN SURPLUS LINES (ASLI) DESIGNATION PROGRAM THAT WAS DEVELOPED IN CONJUNCTION WITH THE INSTITUTES AND PROVIDES A PROFESSIONAL DESIGNATION FOR INSURANCE PROFESSIONALS IN THE WHOLESALE, SPECIALTY AND SURPLUS LINES INDUSTRY. ADDITIONALLY, THE ORGANIZATION SUPPORTS THE UNDERWRITING BOOT CAMP AND WSIA UNIVERSITY EDUCATION PROGRAMS THAT PROVIDE WSIA MEMBERS AN OPPORTUNITY TO CONTINUE THEIR EDUCATION AND EXPAND THEIR KNOWLEDGE OF THE WHOLESALE, SPECIALTY AND SURPLUS LINES MARKET. 104375 104375 0 THE ORGANIZATION PROVIDES 39 SCHOLARSHIPS FOR COLLEGE AND UNIVERSITY STUDENTS TO ENCOURAGE, SUPPORT AND REWARD EXCEPTIONAL STUDENTS WHO ARE STUDYING RISK MANAGEMENT AND INSURANCE AND EXPRESS AN INTEREST IN THE SURPLUS LINES INDUSTRY. 104375 104375 0 675106 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 0 0 0 0 0 0 1 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 7 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 18 17 1 0 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 0 0 0 X EMILY STUBBS 8167990862 4131 N MULBERRY DRIVE STE 200 KANSAS CITY MO 64116 BRADY R KELLEY SECRETARY 2.00 40.00 X X 0 663000 40715 BRIAN VAN CLEAVE PRESIDENT 2.00 X X 0 0 0 NICK ABRAHAM VICE PRESIDENT 2.00 X X 0 0 0 MICHAEL D MILLER TREASURER 2.00 X X 0 0 0 SCOTT ANDERSON DIRECTOR 1.00 X 0 0 0 MAUREEN CAVISTON DIRECTOR 1.00 X 0 0 0 TRIPP DUSENBERG DIRECTOR 1.00 X 0 0 0 SARAH GAVLICK DIRECTOR 1.00 X 0 0 0 HANK HALDEMAN DIRECTOR 1.00 X 0 0 0 JANET JORDAN-FOSTER DIRECTOR 1.00 1.00 X 0 0 0 REGINA KIRWAN DIRECTOR 1.00 X 0 0 0 JENNIFER LARSON DIRECTOR 1.00 X 0 0 0 MATT LYNCH DIRECTOR 1.00 X 0 0 0 TERRANCE MEADE DIRECTOR 1.00 1.00 X 0 0 0 DAVID NELSON DIRECTOR 1.00 X 0 0 0 CLINT NOKES DIRECTOR 1.00 X 0 0 0 KRISTEN SKENDER DIRECTOR 1.00 X 0 0 0 DANIELLE WADE DIRECTOR 1.00 1.00 X 0 0 0 0 663000 40715 0 0 1 0 0 70548 516486 587034 EDUCATION PROGRAMS 611600 187280 187280 SYMPOSIUMS 611600 25375 25375 212655 413883 413883 647187 653631 -6444 -6444 -6444 32202 70548 60557 -28355 -28355 MISCELLANEOUS REVENUE 900099 1312 1312 1312 1180085 213967 0 379084 104375 104375 22746 22746 47727 47727 4705 4705 12687 12687 EDUCATION PROGRAMS 302233 302233 SYMPOSIUMS 221252 221252 SOLVENCY STUDY 47246 47246 BANK SERVICE FEES 954 954 763925 675106 88819 0 83959 109800 24968 37759 14775419 13237294 14884346 13384853 53530 113546 8000 8000 850000 825000 911530 946546 X 11887304 10402435 2085512 2035872 13972816 12438307 14884346 13384853 416160 -1950669 0 X 0 1 X 1 0 X 42500 508590 513876 451085 587034 2103085 42500 508590 513876 451085 587034 2103085 1345476 757609 276742 409436 335918 435826 413883 1871805 1312 1312 3976202 781492 0.19050 0.19820 X WHILE WSIA EDUCATION FOUNDATION DID NOT MEET THE 33 1/3% SUPPORT TEST FOR THE CURRENT YEAR, THE ORGANIZATION'S PERCENTAGE WAS 19.05%, SO NEARLY DOUBLE THE 10% FLOOR AMOUNT. THE ORGANIZATION HAS A BROAD BASE OF SUPPORT, THE MAJORITY COMING FROM SURPLUS LINES ASSOCIATIONS (501(C)(6)) OF MULTIPLE DIFFERENT STATES AND OTHER CORPORATIONS RELATED TO THE SURPLUS LINES INDUSTRY, IN AN EFFORT TO COLLABORATE TO PROVIDE EDUCATIONAL PROGRAMS, SYMPOSIUMS AND SCHOLARSHIPS TO STUDENTS WITH INTEREST IN CAREERS IN THE INDUSTRY. THE PUBLIC SUPPORT PERCENTAGE DROPPED SOLELY DUE TO A PROPORTIONALLY LARGE RECURRING CONTRIBUTION FROM A SECTION 501(C)(3) EXEMPT PRIVATE FOUNDATION, GOVERNED BY AN INDEPENDENT BOARD OF TRUSTEES, RELATED TO A SURPLUS LINES ASSOCIATION. WITHOUT THIS SINGLE CONTRIBUTOR, THE PUBLIC SUPPORT PERCENTAGE WOULD BE VIRTUALLY 100%. WSIA EDUCATION FOUNDATION HAS AN INDEPENDENT REPRESENTATIVE GOVERNING BODY, MADE UP OF INDIVIDUALS ELECTED PURSUANT TO ITS GOVERNING INSTRUMENT, WHO HAVE SPECIAL KNOWLEDGE AND EXPERTISE IN THE SURPLUS LINES INDUSTRY. PROGRAMS AND SCHOLARSHIPS WERE MADE TO STUDENTS ACROSS THE COUNTRY AT 26 DIFFERENT COLLEGES AND UNIVERSITIES. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 538385 -13132 7500 517753 530844 10041 2500 538385 527251 8593 5000 530844 519408 12843 5000 527251 548003 6458 35053 519408 1.00000 0 0 0 PLEDGES PAYABLE 825000 825000 X -571284 -1950669 187782 60557 -1702330 1131046 47727 1312 49039 1180085 963225 187782 60557 248339 714886 47727 1312 49039 763925 PART V, LINE 4: THE ENDOWMENT FUND IS USED TO FUND AND PROVIDE SCHOLARSHIPS FOR STUDENTS. PART X, LINE 2: THE FOUNDATION HAS ADOPTED THE STANDARDS REQUIRING DISCLOSURE OF UNCERTAIN TAX POSITIONS UNDER ASC TOPIC 740 "INCOME TAXES." IN ADDITION, NO TAX POSITIONS EXIST FOR WHICH IT IS REASONABLY POSSIBLE THAT THE TOTAL AMOUNTS OF UNRECOGNIZED TAX BENEFITS WILL SIGNIFICANTLY INCREASE OR DECREASE WITHIN THE NEXT TWELVE MONTHS. PART XI, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING ACTIVITIES 60,557. PART XI, LINE 4B - OTHER ADJUSTMENTS: MISC INCOME NETTED WITH EXPENSE ON F/S 1,312. PART XII, LINE 2D - OTHER ADJUSTMENTS: FUNDRAISING ACTIVITIES 60,557. PART XII, LINE 4B - OTHER ADJUSTMENTS: MISC INCOME NETTED WITH EXPENSE ON F/S 1,312. GOLF TOURNAMENT 102750 70548 32202 10727 30460 8199 11171 102750 70548 32202 10727 30460 8199 11171 60557 -28355 0 SCHOLARSHIPS 39 104375 PART I, LINE 2: SCHOLARSHIP FUNDS ARE SENT TO THE FINANCIAL AID DEPARTMENT OF THE RECIPIENT'S COLLEGE TO BE DISTRIBUTED TO THE APPROPRIATE RECIPIENT. STUDENTS MUST SUBMIT PERIODIC STATUS REPORTS TO THE BOARD OF DIRECTORS INCLUDING COLLEGE TRANSCRIPTIONS SHOWING COLLEGE CREDIT RECEIVED AND A GPA OF 3.0 OR HIGHER. GRANTS FOR COLLEGE SYMPOSIUMS OR CONFERENCES ALSO REQUIRE PERIODIC STATUS REPORTS TO BE SUBMITTED TO THE BOARD OF DIRECTORS. 0 0 0 0 0 0 0 0 0 BRADY R KELLEY SECRETARY 0 510000 0 153000 0 0 0 20500 0 20215 0 703715 0 0 PART I, LINE 4 BRADY R. KELLEY'S COMPENSATION IS PAID BY THE WHOLESALE & SPECIALTY INSURANCE ASSOCIATION (WSIA), A RELATED ORGANIZATION. WSIA USES THE FOLLOWING METHODS TO ESTABLISH COMPENSATION: WRITTEN EMPLOYMENT AGREEMENT, COMPENSATION SURVEY OR STUDY, AND APPROVAL BY THE COMPENSATION COMMITTEE AND EXECUTIVE COMMITTEE. FORM 990, PART VI, SECTION A, LINE 2 MANY OF THE BOARD MEMBERS HAVE BUSINESS RELATIONSHIPS WITH OTHER BOARD MEMBERS BECAUSE THEY ARE ALL EMPLOYED IN THE WHOLESALE, SPECIALTY AND SURPLUS LINES INSURANCE INDUSTRY. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS REVIEWED THE FORM 990 AND REQUIRED SCHEDULES FOR COMPLETENESS AND ACCURACY, AND APPROVED IT FOR SUBMISSION DURING A BOARD MEETING PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE WSIA EDUCATION FOUNDATION (THE FOUNDATION) AND ITS BOARD OF DIRECTORS HAVE A "CONFLICT OF INTEREST" POLICY THAT REQUIRES EACH DIRECTOR AND OFFICER OF THE FOUNDATION TO ACT SUCH THAT HE OR SHE DOES NOT DERIVE ANY PERSONAL PROFIT OR GAIN, DIRECTLY OR INDIRECTLY, BY REASON OF HIS OR HER PARTICIPATION IN THE LEADERSHIP OF THE FOUNDATION, AND TO ALWAYS ACT IN THE BEST INTEREST OF THE FOUNDATION. THE POLICY ALSO REQUIRES THAT EACH DIRECTOR AND OFFICER OF THE FOUNDATION DISCLOSE ALL ACTUAL AND POTENTIAL CONFLICTS OF INTEREST AS THEY OCCUR. ON AN ANNUAL BASIS, EACH DIRECTOR SHALL BE REQUIRED TO COMPLETE AND SIGN A CONFLICT OF INTEREST DISCLOSURE STATEMENT. IN ADDITION, ANY FOUNDATION DIRECTOR OR OFFICER UPON RECOGNIZING HE OR SHE HAS A CONFLICT OF POTENTIAL CONFLICT OF INTEREST SHALL PROMPTLY DISCLOSE THE CONFLICT OR POTENTIAL CONFLICT TO THE BOARD. EACH FOUNDATION DIRECTOR OR OFFICER HAS A CONTINUING RESPONSIBILITY TO SCRUNTINIZE HIS OR HER OUTSIDE BUSINESS, INDUSTRY AND PERSONAL INTERESTS AND ACTIVITIES FOR POTENTIAL CONFLICTS AND TO PROMPTLY DISCLOSE THEM. THIS DISCLOSURE POLICY IS TO BE CONSTRUED BROADLY, RATHER THAN NARROWLY, AND ANY DOUBTS AS TO THE APPLICATION OF THIS POLICY SHOULD BE RESOLVED IN FAVOR OF DISCLOSURE. ALL COMPLETED DISCLOSURE FORMS SHALL BE PROVIDED TO AND REVIEWED BY THE FOUNDATION BOARD. THE DISCLOSURE FORMS AND ANY OTHER MATERIAL RELATED TO A DIRECTOR'S OR OFFICER'S CONFLICT OF INTEREST DISCLOSURES SHALL BE MAINTAINED AT THE FOUNDATION'S HEADQUARTERS OFFICE. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND AUDITED FINANCIAL STATEMENTS AVAILABLE TO THE GENERAL PUBLIC UPON REQUEST. IN ADDITION, THE ANNUAL REPORT, INCLUDING FINANCIAL INFORMATION, IS AVAILABLE ON THE ORGANIZATION'S WEBSITE. WHOLESALE & SPECIALTY INSURANCE ASSOCIATION 4131 N MULBERRY DRIVE NO 200 KANSAS CITY MO 64116 860140772 ASSOCIATION MO 501 (C) (6) N/A N/A 0 WSIA DIVERSITY FOUNDATION 4131 N MULBERRY DR NO 200 KANSAS CITY MO 64116 853686906 CHARITY MO 501 (C) (3) LINE 12A, I N/A 0 0 0 0 0 1 0 0 0 0 0 0 0 1 1 1 0 0 0 0 WHOLESALE & SPECIALTY INSURANCE ASSOCIATION E 101504