2024-02-12T15:40:53-06:00 2023-06-30 873231666 PKF O'CONNOR DAVIES ADVISORY LLC 300 TICE BOULEVARD SUITE 315 WOODCLIFF LAKE NJ 07677 990 2022-07-01 202610773 THE PHD PROJECT ASSOCIATION PHDP 2013077662 3 CHESTNUT RIDGE ROAD MONTVALE NJ 07645 BLANE RUSCHAK PRESIDENT 2013077662 2024-02-12 1 BLANE RUSCHAK 999009999 0 GARRETT M HIGGINS P00543209 2017129800 2024-02-12 2 AAL1 IAL1 2022 2023-04-26 12:10:37Z BLANE RUSCHAK 3 CHESTNUT RIDGE ROAD MONTVALE NJ 07645 3747228 0 X WWW.PHDPROJECT.ORG X 2005 DE THE PHD PROJECT'S MISSION IS TO "INCREASE THE DIVERSITY OF CORPORATE AMERICA BY INCREASING THE DIVERSITY OF BUSINESS SCHOOL FACULTY." THE ORGANIZATION ATTRACTS BLACK/AFRICAN AMERICANS, LATINX/HISPANIC AMERICANS AND NATIVE AMERICANS TO BUSINESS PHD PROGRAMS AND PROVIDES A NETWORK OF PEER SUPPORT ON THEIR JOURNEY TO BECOMING PROFESSORS. 15 15 0 116 0 0 1384348 1981487 0 0 0 18724 0 0 1384348 2000211 11448 0 0 0 0 0 0 0 349435 2057002 3118172 2068450 3118172 -684102 -1117961 2576486 1608113 110578 260880 2465908 1347233 X THE MISSION OF THE PHD PROJECT ASSOCIATION IS TO INCREASE WORKPLACE DIVERSITY BY INCREASING THE DIVERSITY OF BUSINESS SCHOOL FACULTY WHO ENCOURAGE, MENTOR, SUPPORT AND ENHANCE THE PREPARATION OF TOMORROW'S LEADERS. THE VISION OF THE ORGANIZATION IS TO CREATE A SIGNIFICANTLY LARGER TALENT PIPELINE OF BLACK/AFRICAN AMERICANS, LATINX/HISPANIC AMERICANS AND NATIVE AMERICANS FOR BUSINESS LEADERSHIP POSITIONS. 0 0 2166343 0 0 THE PHD PROJECT IS A SYSTEMIC DIVERSITY INITIATIVE THAT ENCOURAGES BLACK/AFRICAN AMERICANS, LATINX/HISPANIC AMERICANS, AND NATIVE AMERICANS TO PURSUE PHD'S IN BUSINESS, CREATING ROLE MODELS AND MENTORS THAT ATTRACT AND ENCOURAGE MINORITY BUSINESS STUDENTS RESULTING IN A MORE DIVERSE TALENT POOL. WE HOST AN ANNUAL, INVITATION-ONLY CONFERENCE FOR HISTORICALLY UNDERREPRESENTED MINORITY STUDENTS AND PROFESSIONALS CONSIDERING BUSINESS DOCTORAL STUDIES AND COVER ALL EXPENSES FOR THEM TO ATTEND. WE HELD TWO ANNUAL CONFERENCES DURING FY23 (NOV. 2022 & MARCH 2023).402 MINORITY PROFESSIONALS APPLIED FOR THE TWO CONFERENCES, 335 WERE INVITED AND 287 ATTENDED. WE HOST FIVE DISCIPLINE-SPECIFIC CONFERENCES FOR HISTORICALLY UNDERREPRESENTED MINORITY DOCTORAL STUDENTS PROVIDING A NETWORK OF RESOURCES TO ENSURE THEIR SUCCESS AND COVER ALL EXPENSES FOR THEM TO ATTEND OUR CONFERENCE AS WELL AS THE RELATED PROFESSIONAL ASSOCIATION CONFERENCE FOR THAT DISCIPLINE. DURING FY2023, WE HOSTED 172 MINORITY DOCTORAL STUDENTS AT THESE FIVE CONFERENCES, OF WHICH 15 BEGAN THEIR PROGRAM IN 2023. WE CAPPED 41 NEW MINORITY FACULTY. PHD PROJECT AFFILIATE PROGRAMS ARE DESIGNED TO PROVIDE EMERGING DOCTORAL STUDENTS AND FACULTY WITH VALUABLE TOOLS AND RESOURCES THROUGHOUT THEIR ACADEMIC CAREER. SEVERAL PROGRAMS, INCLUDING TEACHING STRATEGIES, THE RESEARCH SYMPOSIUM AND THE DIVERSITY CASE WRITING WORKSHOP ARE HOSTED BY A UNIVERSITY AND THE ASPIRING LEADERS SESSION FOR THOSE MEMBERS INTERESTED IN HIGHER EDUCATION ADMINISTRATION IS HOSTED BY PHD PROJECT FOUNDING MEMBER, AACSB. A TOTAL OF 70 MEMBERS ATTENDED ONE OR MORE OF THESE SESSIONS DURING FY2023. 83 OF OUR MEMBERS ARE IN THE ROLE OF DEAN OF THE BUSINESS SCHOOL AND 10 MEMBERS ARE SERVING AS A UNIVERSITY PRESIDENT. 2166343 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 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 1 13 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 1 1 0 0 0 0 1 1 0 0 1 1 1 1 0 1 0 0 0 AL AK AZ AR CA CO CT DE DC FL GA HI ID IL IN IA KS KY LA ME MD MA MI MN MS MT NE NV NH NJ NM NY NC ND OH OK OR PA RI SC SD TN TX UT VT VA WA WV WI WY X BLANE RUSCHAK 2013077662 3 CHESTNUT RIDGE ROAD MONTVALE NJ 07645 X NEIL BOSLAND CHAIR 0.50 X X 0 0 0 ALFONZO ALEXANDER VICE CHAIR 0.50 X X 0 0 0 BLANE RUSCHAK PRESIDENT 40.00 X X 0 0 0 KURT HEISSENBUTTEL SECRETARY 0.50 X X 0 0 0 CARYN BECK-DUDLEY BOARD MEMBER THRU 05/31/23 0.50 X 0 0 0 CRYSTAL COOKE BOARD MEMBER 0.50 X 0 0 0 ROSANNA DURRUTHY BOARD MEMBER 0.50 X 0 0 0 DAVID EVANS BOARD MEMBER 0.50 X 0 0 0 YVONNE HINSON BOARD MEMBER 0.50 X 0 0 0 CAROLYNN JOHNSON BOARD MEMBER 0.50 X 0 0 0 SHARON PIERSON BOARD MEMBER 0.50 X 0 0 0 SANDRA RICHTERMEYER BOARD MEMBER 0.50 X 0 0 0 REBECCA SPROUL BOARD MEMBER 0.50 X 0 0 0 JEREMY VAN EK BOARD MEMBER 0.50 X 0 0 0 SABRINA WHITE BOARD MEMBER 0.50 X 0 0 0 JEN WYNE BOARD MEMBER 0.50 X 0 0 0 0 0 0 0 0 0 0 KEMPERLESNIK COMMUNICATIONS INC 500 SKOKIE BLVD SUITE 444 NORTHBROOK IL 60062 PUBLIC RELATIONS 154013 1 1981487 7500 1981487 18273 18273 1747468 1747017 451 451 451 2000211 0 0 18724 412904 412904 16300 16300 57126 57126 183161 183161 93743 93743 21705 21705 1581618 1507798 73820 ADMINISTRATION EXPENSES 681885 405654 616 275615 NETWORKING 69730 69730 3118172 2166343 602394 349435 1268790 142808 0 5013 1307696 1002129 0 457579 0 584 2576486 1608113 61834 192619 48744 68261 110578 260880 X 1069408 224733 1396500 1122500 2465908 1347233 2576486 1608113 -1117961 -714 0 X X 0 1 X 1 0 X 2435867 1653825 2872226 1384348 1981487 10327753 2435867 1653825 2872226 1384348 1981487 10327753 611737 9716016 18273 18273 10346026 0.93910 0.94570 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 X 2521867 -714 522370 521656 2000211 0 2000211 3640542 522370 522370 3118172 0 3118172 PART X, LINE 2: THE ASSOCIATION RECOGNIZES THE EFFECT OF INCOME TAX POSITIONS ONLY IF THOSE POSITIONS ARE MORE LIKELY THAN NOT TO BE SUSTAINED. MANAGEMENT HAS DETERMINED THAT THE ASSOCIATION HAS NO UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE FINANCIAL STATEMENT RECOGNITION OR DISCLOSURE. THE ASSOCIATION IS NO LONGER SUBJECT TO EXAMINATIONS BY THE APPLICABLE TAXING JURISDICTIONS FOR PERIODS PRIOR TO FISCAL 2020. SCHEDULE D, PART XI LINE 2B AND PART XII LINE 2A THE ASSOCIATION RECEIVES CONTRIBUTED SERVICES AND IN-KIND DONATIONS, WHICH ARE RECORDED AT ESTIMATED FAIR VALUE. EFFECTIVE OCTOBER 1, 2021, THE ASSOCIATION ENTERED INTO AN ADMINISTRATIVE AGREEMENT WITH KPMG LLP IN WHICH 50% OF SALARIES AND BENEFITS RELATED TO CERTAIN MANAGERIAL AND ADMINISTRATIVE PERSONNEL ASSIGNED TO PROVIDE SERVICES TO THE ASSOCIATION ARE NON-REIMBURSABLE. THE VALUE OF THESE CONTRIBUTED SERVICES RECEIVED IN THE FISCAL YEAR ENDED JUNE 30, 2023 WAS $412,904. OTHER IN-KIND DONATIONS UNRELATED TO THE KPMG CONTRIBUTIONS CONSIST OF ADVERTISING, MARKETING, AND CONFERENCE AND MEMBERSHIP FEES. THE VALUE OF THESE DONATIONS AND SERVICES RECEIVED IN THE FISCAL YEARS ENDED JUNE 30, 2023 AND 2022 WERE $109,466 AND $85,725 RESPECTIVELY. FORM 990, PART VI, SECTION A, LINE 3 DURING THE FISCAL YEAR, THE ORGANIZATION ENGAGED KPMG LLP TO PROVIDE MANAGERIAL SERVICES. THE PRESIDENT, BLANE RUSCHAK WAS COMPENSATED IN THE AMOUNT OF $271,036 FROM KPMG LLP, FOR MANAGEMENT SERVICES PROVIDED TO THE ORGANIZATION. FORM 990, PART VI, SECTION A, LINE 4 THE ORGANIZATION'S BYLAWS WERE UPDATED TO REFLECT THE FOLLOWING CHANGES: - THE NUMBER OF DIRECTORS MAY BE INCREASED (BUT NOT ABOVE TWENTY-TWO (22) OR DECREASED (BUT NOT BELOW THREE (3). - SEVENTY-FIVE PERCENT (75) % OF DIRECTORS MUST BE AFFILIATED WITH OR A REPRESENTATIVE FROM AN ORGANIZATION THAT PROVIDES FINANCIAL OR IN-KIND SUPPORT TO THE ASSOCIATION AT $25,000/YEAR. - BOARD SEAT CONSIDERATION WILL BE OFFERED FIRST TO ENTITIES MAKING A MULTI-YEAR COMMITMENT. UP TO TWENTY-FIVE PERCENT (25)% OF DIRECTORS WILL BE COMPRISED OF FUNCTIONAL/INDUSTRY EXPERTS AND ACADEMIC REPRESENTATIVES INCLUDING UP TO TWO (2) MEMBERS OF THE PHD PROJECT ADVISORY COMMITTEE (PAC-15). FORM 990, PART VI, SECTION B, LINE 11B THE 990 IS REVIEWED BY THE PRESIDENT OF THE PHD PROJECT AND CHAIR OF THE BOARD'S FINANCIAL OVERSIGHT COMMITTEE VIA A VIRTUAL MEETING BEFORE SENDING ELECTRONIC COPY TO ALL MEMBERS OF THE FINANCIAL OVERSIGHT COMMITTEE FOR REVIEW/APPROVAL VIA EMAIL. FINAL APPROVED 990 IS DISTRIBUTED TO ALL BOARD MEMBERS ELECTRONICALLY PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO ALL MEMBERS OF THE BOARD OF DIRECTORS, COMMITTEE MEMBERS AND KEY STAFF MEMBERS IN JULY ANNUALLY FOR THEIR REVIEW AND SIGNATURE. ALL MEMBERS RETURNED A SIGNED COPY TO THE PRESIDENT OF THE ASSOCIATION. BELOW IS A DESCRIPTION OF HOW DISCLOSURES ARE TO BE PRESENTED TO THE BOARD, WHAT ACTION THE INTERESTED PARTY IS THEN REQUIRED TO TAKE, THE ANNUAL DISTRIBUTION OF THE POLICY AND ACTIONS TAKEN IF A REQUIRED MEMBER FAILS TO DISCLOSE A POTENTIAL CONFLICT. DISCLOSURES: WHENEVER ANY DIRECTOR, OFFICER, COMMITTEE MEMBER OR KEY STAFF MEMBER OF THE ASSOCIATION BECOMES AWARE THAT THE ASSOCIATION IS CONSIDERING (OR HAS CONSIDERED) A TRANSACTION THAT POTENTIALLY CREATES A CONFLICT OF INTEREST, HE OR SHE IS OBLIGATED TO NOTIFY THE BOARD OF DIRECTORS AND TO DISCLOSE ALL MATERIAL FACTS RELATING TO HIS OR HER INTEREST IN THE TRANSACTION. THE BOARD OF DIRECTORS WILL DETERMINE WHETHER AN ACTUAL CONFLICT OF INTEREST EXISTS AND TAKE ACTION THAT THE BOARD DEEMS APPROPRIATE. THE INTERESTED PERSON MAY NOT BE PRESENT WHEN THE BOARD MAKES IT DETERMINATION OTHER THAN TO ANSWER QUESTIONS. WITHDRAWAL AND ABSTENTION: IF THE BOARD OF DIRECTORS DETERMINES THAT A TRANSACTION WOULD CREATE A CONFLICT OF INTEREST, THE TRANSACTION MUST BE APPROVED IN ADVANCE BY ONLY THOSE BOARD MEMBERS WHO DO NOT HAVE A CONFLICT WITH RESPECT TO THE TRANSACTION. ANY INTERESTED PERSON THEREFORE MUST RECUSE HIM - OR HERSELF FROM CONSIDERATION OF THE TRANSACTION. HE OR SHE MAY NOT VOTE ON THE TRANSACTION OR BE PRESENT WHEN THE VOTE IS TAKEN. DOCUMENTATION: THE MINUTES OF ANY MEETING AT WHICH A CONFLICT OF INTEREST TRANSACTION IS CONSIDERED MUST REFLECT THAT THE INTERESTED PERSON MADE ADEQUATE DISCLOSURES, WITHDREW FROM CONSIDERATION OF THE TRANSACTION AND ABSTAINED FROM VOTING. ACKNOWLEDGEMENT AND DISCLOSURE: EACH DIRECTOR, OFFICER, COMMITTEE MEMBER AND KEY STAFF MEMBER MUST ANNUALLY SIGN AN ACKNOWLEDGMENT WHICH AFFIRMS THAT SUCH PERSON: (A) HAS RECEIVED A COPY OF THE CONFLICT OF INTEREST POLICY, (B) HAS READ AND UNDERSTANDS THE POLICY, AND (C) HAS AGREED TO COMPLY WITH THE POLICY. ADDITIONALLY, EACH OFFICER, COMMITTEE MEMBER AND KEY STAFF MEMBER MUST ANNUALLY SIGN A DISCLOSURE STATEMENT LISTING VARIOUS RELATIONSHIPS AND FINANCIAL INTERESTS THAT HE OR SHE HAS. VIOLATIONS OF THE CONFLICT OF INTEREST POLICY: IF THE BOARD OF DIRECTORS HAS REASONABLE CAUSE TO BELIEVE THAT AN INTERESTED PERSON HAS FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT WILL INFORM THE INTERESTED PERSON OF THE BASIS FOR SUCH BELIEF AND AFFORD HIM OR HER AN OPPORTUNITY TO EXPLAIN THE ALLEGED FAILURE TO DISCLOSE. IF, AFTER HEARING THE RESPONSE AND MAKING SUCH FURTHER INVESTIGATION AS MAY BE WARRANTED IN THE CIRCUMSTANCES, THE BOARD DETERMINES THAT THE INTERESTED PERSON HAS IN FACT FAILED TO DISCLOSE AN ACTUAL OR POSSIBLE CONFLICT OF INTEREST, IT WILL TAKE APPROPRIATE ACTION WHICH MAY INCLUDE REMOVAL FROM THE BOARD OR TERMINATION OF EMPLOYMENT, AS WELL AS RECONSIDERATION OF WHETHER THE TRANSACTION OR ARRANGEMENT WAS IN THE BEST INTERESTS OF AND FAIR AND REASONABLE TO THE ASSOCIATION AT THE TIME IT WAS UNDERTAKEN. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS 990 AVAILABLE FOR PUBLIC INSPECTION AS REQUIRED UNDER SECTION 6104 OF THE INTERNAL REVENUE CODE. THE FINANCIAL STATEMENTS, CONFLICT OF INTEREST POLICY, FORM 990, FORM 1023, AND GOVERNING DOCUMENTS ARE ALSO AVAILABLE UPON WRITTEN REQUEST OR BY CALLING THE ORGANIZATION DIRECTLY AT 201-307-7662. FORM 990, PART XII, LINE 2C: THE ORGANIZATION HAS A COMMITTEE THAT ASSUMES RESPONSIBILITY FOR OVERSIGHT OF THE AUDIT OF ITS FINANCIAL STATEMENTS AND SELECTION OF AN INDEPENDENT ACCOUNTANT. THIS PROCESS HAS NOT CHANGED FROM THE PRIOR YEAR.