2025-06-25T12:34:02-05:00 2024-12-31 341874260 CBIZ ADVISORS LLC 700 WEST 47TH STREET SUITE 1100 KANSAS CITY MO 64112 990 2024-01-01 431601552 WSIA EDUCATION FOUNDATION WSIA 8167413910 4131 N MULBERRY DR 200 KANSAS CITY MO 64116 BRADY KELLEY WSIA CEO & PRESIDENT 8167413910 2025-06-17 1 1 LISA BURKE P00220718 8169455500 2025-06-17 2024 2025-03-06 01:10:19Z BRADY KELLEY 4131 N MULBERRY DR 200 KANSAS CITY MO 64116 4005483 0 X WWW.WSIA.ORG X 1991 MO STUDENT EDUCATIONAL PROGRAMS, SYMPOSIUMS, AND SCHOLARSHIPS AND SUPPORT OF WSIA EDUCATION PROGRAMS. 20 19 0 20 0 0 562209 605650 207585 232375 663726 1364184 -38104 -33864 1395416 2168345 326545 316759 0 0 0 0 0 0 0 604383 626606 930928 943365 464488 1224980 14549895 16017131 697560 709291 13852335 15307840 X 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. (SEE SCH O)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 302905 8550 199375 EDUCATION AND TECHNICAL TRAINING PROGRAMS: 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 TECHNICAL TRAINING PROGRAM, UNDERWRITING BOOT CAMP AND WSIA UNIVERSITY PROGRAMS THAT PROVIDE WSIA MEMBERS AN OPPORTUNITY TO CONTINUE THEIR EDUCATION AND EXPAND THEIR KNOWLEDGE OF THE WHOLESALE, SPECIALTY AND SURPLUS LINES MARKET. 181120 33000 SYMPOSIUMS: THE ORGANIZATION SPONSORS FOUR (4) 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. 288799 288799 SCHOLARSHIPS: THE ORGANIZATION PROVIDES 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. 54712 19410 AM BEST STUDY: 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. 54712 19410 827536 1 1 0 0 0 0 0 0 0 1 0 1 0 0 1 1 1 0 0 0 1 0 0 0 1 0 0 1 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 10 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 20 19 0 1 0 0 0 0 0 1 1 0 0 1 1 1 1 1 0 0 0 0 X EMILY STUBBS CONTROLLER 8167413910 4131 N MULBERRY DR STE 200 KANSAS CITY MO 64116 BRADY KELLEY CEO & PRESIDENT 2.00 42.00 X X 0 689254 190745 DANIELLE WADE CHAIR 2.00 1.00 X X 0 0 0 DAVID NELSON VICE CHAIR 2.00 0.00 X X 0 0 0 MATT LYNCH SECRETARY 2.00 0.00 X X 0 0 0 KRISTEN SKENDER TREASURER 2.00 0.00 X X 0 0 0 NICK ABRAHAM IMMEDIATE PAST CHAIR 2.00 0.00 X 0 0 0 MAUREEN CAVISTON DIRECTOR 1.00 0.00 X 0 0 0 ANNIE DAWSON DIRECTOR (TERM START 9/2024) 1.00 1.00 X 0 0 0 DAWN D'ONOFRIO DIRECTOR 1.00 0.00 X 0 0 0 TRIPP DUESENBERG DIRECTOR 1.00 0.00 X 0 0 0 ANGIE FYLAK DIRECTOR (TERM START 9/2024) 1.00 0.00 X 0 0 0 BOB GREENEBAUM DIRECTOR (TERM START 9/2024) 1.00 0.00 X 0 0 0 GRACE GRANT DIRECTOR 1.00 0.00 X 0 0 0 HANK HALDEMAN DIRECTOR 1.00 0.00 X 0 0 0 REGINA KIRWAN DIRECTOR 1.00 0.00 X 0 0 0 JENNIFER LARSEN DIRECTOR 1.00 0.00 X 0 0 0 MIKE MILLER DIRECTOR 1.00 0.00 X 0 0 0 CLINT NOKES DIRECTOR 1.00 0.00 X 0 0 0 BRIAN VAN CLEAVE DIRECTOR 1.00 0.00 X 0 0 0 HOLLIS ZYGLOCKE DIRECTOR (TERM START 9/2024) 1.00 0.00 X 0 0 0 TERRANCE MEADE DIRECTOR (TERM END 9/2024) 1.00 2.00 X 0 0 0 0 689254 190745 0 0 1 0 0 64000 5000 536650 605650 EDUCATION PROGRAMS 611600 199375 199375 SYMPOSIUMS 611600 33000 33000 232375 724892 724892 2407566 1768274 639292 639292 639292 35000 64000 68864 -33864 -33864 2168345 232375 0 1330320 27960 27960 288799 288799 26508 26508 53011 53011 46268 46268 3988 3988 65797 65797 401592 398712 2880 29442 29442 943365 827536 115829 0 156230 294417 43201 76788 12827154 13877347 1523310 1767843 0 736 14549895 16017131 24826 22581 490000 460000 0 900 182734 225810 697560 709291 X 11744646 13129143 2107689 2178697 13852335 15307840 14549895 16017131 1224980 230525 0 X X 0 1 X 1 0 X 513876 451085 587034 562209 605650 2719854 513876 451085 587034 562209 605650 2719854 1769444 950410 335918 435826 413883 507217 724892 2417736 1312 1312 5138902 809530 0.18490 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 18.49%, 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, TO COLLABORATE TO PROVIDE EDUCATIONAL PROGRAMS, SYMPOSIUMS, AND SCHOLARSHIPS TO STUDENTS WITH INTEREST IN CAREERS IN THE INDUSTRY. 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. SCHOLARSHIPS WERE AWARDED TO STUDENTS ACROSS THE COUNTRY AT MANY DIFFERENT COLLEGES AND UNIVERSITIES. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 521521 10621 5000 527142 517753 11268 7500 521521 538385 -13132 7500 517753 530844 10041 2500 538385 527251 8593 5000 530844 0.00000 1.00000 0.00000 0 0 0 THIRTEEN PARTNERS OFFSHORE, LTD. (HEDGE FUND) 1767843 F 1767843 DUE TO WSIA 225810 225810 X 2693661 230525 278938 68864 578327 2115334 53011 53011 2168345 1238156 278938 68864 347802 890354 53011 53011 943365 PART V, LINE 4: THE FOUNDATION'S ENDOWMENT CONSISTS OF TWO DONOR-RESTRICTED FUNDS HELD IN PERPETUITY ESTABLISHED FOR SCHOLARSHIPS AND GENERAL OPERATIONS. PART X, LINE 2: THE FOUNDATION IS EXEMPT FROM FEDERAL INCOME TAXES UNDER THE PROVISIONS OF SECTION 501(C)(3) OF THE INTERNAL REVENUE CODE AND IS NOT CONSIDERED A PRIVATE FOUNDATION. HOWEVER, INCOME FROM CERTAIN ACTIVITIES NOT DIRECTLY RELATED TO THE FOUNDATION'S TAX-EXEMPT PURPOSE MAY BE SUBJECT TO TAXATION AS UNRELATED BUSINESS INCOME. THE FOUNDATION HAS ADOPTED THE STANDARDS REQUIRING DISCLOSURE OF UNCERTAIN TAX POSITIONS UNDER ACCOUNTING STANDARDS CODIFICATION ("ASC") TOPIC 740 "INCOME TAXES." IN ADDITION, NO TAX POSITIONS WERE IDENTIFIED 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: SPECIAL EVENT EXPENSES REPORTED ON PART VIII, LINE 8B 68,864. PART XII, LINE 2D - OTHER ADJUSTMENTS: SPECIAL EVENT EXPENSES REPORTED ON PART VIII, LINE 8B 68,864. CENTRAL AMERICA AND THE CARIBBEAN - ANTIGUA & BARBUDA, ARUBA, BAHAMAS, 0 0 BUSINESS INVESTMENT N/A 1767843 0 0 0 0 0 0 1767843 0 1767843 0 0 1 0 0 0 SCHEDULE F, PART I, LINE 3: WSIA EDUCATION FOUNDATION HAS AN INVESTMENT IN AN OFFSHORE CORPORATION (THIRTEEN PARTNERS OFFSHORE, LTD.) BASED IN THE CAYMAN ISLANDS. THE FOUNDATION OWNS 1,035.21 SHARES OF COMMON STOCK VALUED AT $1,767,843 (MEASURED AT NET ASSET VALUE) AS OF DECEMBER 31, 2024. GOLF TOURNAMENT 99000 64000 35000 3950 10475 20320 9447 240 24432 99000 64000 35000 3950 10475 20320 9447 240 24432 68864 -33864 0 AM BEST COMPANY INC 1 AMBEST RD PO BOX 700 OLDWICK NJ 088580700 134955140 19410 0 N/A N/A ANNUAL AM BEST WEBINAR SPONSORSHIP 0 1 SCHOLARSHIPS 134 288799 0 N/A N/A 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 TRANSCRIPTS 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 1 0 0 0 0 0 0 0 BRADY KELLEY CEO & PRESIDENT 0 523770 0 165484 0 0 0 138065 0 52680 0 879999 0 0 PART I, LINE 3 FOUNDATION ACTIVITIES ARE CONDUCTED BY EMPLOYEES OF THE WHOLESALE SPECIALTY & INSURANCE ASSOCIATION (WSIA). WSIA USES A WRITTEN EMPLOYMENT AGREEMENT SPECIFYING COMPENSATION OF THE CEO & PRESIDENT. AN INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, AND A COMPENSATION SURVEY IS USED TO DETERMINE REASONABLE COMPENSATION. THE COMPENSATION COMMITTEE REVIEWS AND APPROVES THE AGREEMENT ON A PERIODIC BASIS. PART I, LINE 4B DURING THE YEAR ENDED DECEMBER 31, 2021, WSIA ESTABLISHED A NONQUALIFIED DEFERRED COMPENSATION PLAN UNDER THE PROVISIONS OF THE INTERNAL REVENUE SERVICE ("IRS") CODE ("IRC") 457(F). BRADY KELLEY, CEO & PRESIDENT, IS THE SOLE PARTICIPANT OF THE PLAN. ANNUAL CONTRIBUTIONS TO THE PLAN ARE MADE AT THE DISCRETION OF THE COMPENSATION COMMITTEE AND EXECUTIVE COMMITTEE. THE PLAN PROVIDES FOR THE EMPLOYEE TO BE FULLY VESTED ON JANUARY 1, 2027, OR TERMINATION DUE TO DEATH. IF THE EMPLOYEE HAS A SEPARATION FROM SERVICE OTHER THAN DEATH PRIOR TO JANUARY 1, 2027, THE EMPLOYEE WILL NOT BE ENTITLED TO ANY BENEFIT AND THE AMOUNT WILL BE FORFEITED. DURING THE YEAR ENDED DECEMBER 31, 2024, CONTRIBUTIONS MADE BY WSIA TOTALED $107,565. FORM 990, PART VI, SECTION A, LINE 3 WSIA EDUCATION FOUNDATION HAS A MANAGEMENT AGREEMENT WITH THE WHOLESALE & SPECIALTY INSURANCE ASSOCIATION (WSIA), A RELATED NON-PROFIT ORGANIZATION (SEE SCHEDULE R). WSIA PROVIDES MANAGEMENT SERVICES INCLUDING FINANCIAL MANAGEMENT SERVICES, ADMINISTRATIVE SERVICES, BOARD OF DIRECTOR AND COMMITTEE SUPPORT, DATABASE MANAGEMENT AND USE, MEETING AND LIAISON SERVICES, WEB SITE MANAGEMENT, PUBLISHING AND COMMUNICATIONS, AND OTHER SERVICES. BRADY KELLEY, CEO & PRESIDENT, IS COMPENSATED BY WSIA (SEE PART VII) AND ALLOCATES A PORTION OF HIS TIME THROUGHOUT THE YEAR TO SUPPORT THE FOUNDATION. FORM 990, PART VI, SECTION B, LINE 11B THE BOARD OF DIRECTORS REVIEWS FORM 990 AND REQUIRED SUPPLEMENTAL SCHEDULES FOR COMPLETENESS AND ACCURACY AND APPROVES THE FORM 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 OR 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 SCRUTINIZE 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 B, LINE 15 FOUNDATION ACTIVITIES ARE CONDUCTED BY EMPLOYEES OF THE WHOLESALE SPECIALTY & INSURANCE ASSOCIATION (WSIA). WSIA USES A WRITTEN EMPLOYMENT AGREEMENT SPECIFYING COMPENSATION OF THE CEO & PRESIDENT. AN INDEPENDENT COMPENSATION CONSULTANT, FORM 990 OF OTHER ORGANIZATIONS, AND A COMPENSATION SURVEY IS USED TO DETERMINE REASONABLE COMPENSATION. THE COMPENSATION COMMITTEE REVIEWS AND APPROVES THE AGREEMENT ON A PERIODIC BASIS. THE LATEST COMPENSATION STUDY WAS CONDUCTED BY AN INDEPENDENT CONSULTING FIRM IN 2024; HOWEVER, THE BENCHMARKING DATA WITHIN THAT SURVEY IS UPDATED BY THE COMPENSATION COMMITTEE ANNUALLY. 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. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A FINANCE AND INVESTMENT SUBCOMMITTEE THAT ASSUMES OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM PRIOR YEARS. WHOLESALE & SPECIALTY INSURANCE ASSOCIATION 4131 N MULBERRY DR STE 200 KANSAS CITY MO 64116 860140772 MEMBER ORGANIZATION REPRESENTING WHOLESALE, SPECIALTY & SURPLUS LINES MO 501(C)(6) N/A 0 WSIA TALENT ADVOCACY & ENGAGEMENT FOUNDATION 4131 N MULBERRY DR STE 200 KANSAS CITY MO 64116 853686906 STIMULATE A BROAD PIPELINE OF TALENT FOR THE INSURANCE INDUSTRY MO 501(C)(3) LINE 12A, I WHOLESALE & SPECIALTY INSURANCE ASSOCIATION 0 0 0 1 1 1 0 0 0 0 0 0 0 1 1 1 1 0 0 0