2024-10-18T14:52:54-05:00 2023-12-31 521446779 JOHNSON LAMBERT LLP 4242 SIX FORKS ROAD SUITE 1500 RALEIGH NC 27609 990 2023-01-01 520882723 REINSURANCE ASSOCIATION OF AMERICA REIN 2026383690 1445 NEW YORK AVE NW 700 WASHINGTON DC 20005 J LEE COVINGTON II PRESIDENT 2026383690 2024-10-14 1 0 J CALVIN MARKS P01226973 9197196400 2023 2024-10-15 13:58:12Z J LEE COVINGTON II 1445 NEW YORK AVE NW 700 WASHINGTON DC 20005 10539025 0 X WWW.REINSURANCE.ORG X 1969 DC TO ASSIST MEMBERS IN PROTECTING THE INTERESTS OF THE INDUSTRY, TO ACT AS THE INDUSTRY REPRESENTATIVE, AND TO ASSIST REINSURERS BY COLLECTING AND DISSEMINATING INFORMATION. 42 42 20 49 0 0 0 0 9231779 9684026 242905 311618 80106 228711 9554790 10224355 81176 70500 0 0 5653579 7071424 0 0 0 3235979 3722009 8970734 10863933 584056 -639578 11772489 11570717 7672016 7698472 4100473 3872245 X THE PURPOSES OF REINSURANCE ASSOCIATION OF AMERICA ARE TO ASSIST MEMBERS IN PROTECTING THE INTERESTS OF THE INDUSTRY; TO ACT AS THE INDUSTRY REPRESENTATIVE BEFORE CONGRESS, FEDERAL AND STATE REGULATORY AND ADMINISTRATIVE BODIES AND COMMISSIONS, AND THE PUBLIC; AND TO ASSIST REINSURERS IN PROVIDING COVERAGE AND SERVICE RESPONSIVE TO THE EVOLVING NEEDS OF PRIMARY INSURERS AND THE PUBLIC BY COLLECTING AND DISSEMINATING INFORMATION AND BY PROVIDING A FORUM FOR THE DISCUSSION AND CONSIDERATION OF THIS INFORMATION. 0 0 TESTIMONY - ON BEHALF OF THE MEMBERSHIP, STAFF PREPARE AND GIVE TESTIMONY TO FEDERAL AND STATE LEGISLATIVE BODIES, CONGRESSIONAL COMMITTEES AND SUBCOMMITTEES. STAFF ALSO ATTEND INDUSTRY WIDE MEETINGS AND CONFERENCES PERTAINING TO ISSUES OF CONCERN TO PROPERTY/CASUALTY AND LIFE REINSURERS AND PRIMARY INSURERS. STATISTICAL STUDIES AND EDUCATION PROGRAMS - STAFF CONDUCTS EDUCATIONAL SEMINARS PERTAINING TO REINSURANCE AND PREPARES STATISTICAL STUDIES RELATED TO REINSURANCE VOLUME AND LOSSES VERSUS EXPENSES IN POLICY HOLDER SURPLUS. THESE SEMINARS AND STUDIES ARE MADE AVAILABLE TO THE INDUSTRY AND ALL INTERESTED PARTIES. LOBBYING - OUTSIDE SERVICES ARE OBTAINED TO LOBBY ON BEHALF OF THE ASSOCIATION AND ITS MEMBERS IN AREAS SUCH AS FINANCIAL SERVICES LEGISLATION, ENVIRONMENTAL LEGISLATION AND AMICUS BRIEF FILINGS. OUTSIDE SERVICES ARE ALSO OBTAINED FOR ADVICE AND WORK PERFORMED ON ACTUARIAL SERVICES IN RELATION TO THE ASSOCIATION'S STATISTICAL STUDIES. 0 0 1 1 0 0 0 0 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 34 0 1 20 1 0 0 0 0 1 1 0 1 0 X 42 42 0 0 0 0 1 0 0 1 1 0 0 0 1 1 1 1 1 1 0 0 X RAHEL WILLIS 2026383690 1445 NEW YORK AVE NW STE 700 WASHINGTON DC 20005 JUSTIN O'KEEFE CHAIRMAN 1.00 X X 0 0 0 JIM WILLIAMSON VICE CHAIRMAN 1.00 X X 0 0 0 JONATHAN COLELLO SECRETARY-TREASURER 1.00 X X 0 0 0 DONALD BAHR DIRECTOR (FROM JAN '23) 1.00 X 0 0 0 TIM BARBER DIRECTOR (FROM FEB '23) 1.00 X 0 0 0 H CLAY BASSETT DIRECTOR (FROM FEB '23) 1.00 X 0 0 0 MICHAEL BECK DIRECTOR (TO OCT '23) 1.00 X 0 0 0 JOHN BENDER DIRECTOR 1.00 X 0 0 0 NIC BERG DIRECTOR 1.00 X 0 0 0 ANDREW BERNSTEIN DIRECTOR 1.00 X 0 0 0 BRIAN BOORNAZIAN DIRECTOR 1.00 X 0 0 0 ANDREW BORIS DIRECTOR 1.00 X 0 0 0 JIM BRADSHAW DIRECTOR 1.00 X 0 0 0 KEN BRANDT DIRECTOR 1.00 X 0 0 0 J ROBERT BREDAHL DIRECTOR 1.00 X 0 0 0 CHRISTOPHER BUSE DIRECTOR 1.00 X 0 0 0 JASON BUSTI DIRECTOR 1.00 X 0 0 0 PETE CHANDLER DIRECTOR 1.00 X 0 0 0 JEFFREY CLEMENTS DIRECTOR 1.00 X 0 0 0 NATHAN COLSON DIRECTOR 1.00 X 0 0 0 LIZ CUNNINGHAM DIRECTOR 1.00 X 0 0 0 GEORGE W DEMENOCAL DIRECTOR 1.00 X 0 0 0 CHRISTOPHER DONELAN DIRECTOR 1.00 X 0 0 0 VINCENT J DOWLING DIRECTOR 1.00 X 0 0 0 CHRISTIAN DUNLEAVY DIRECTOR (TO DEC '23) 1.00 X 0 0 0 JEAN-PAUL DYER DIRECTOR 1.00 X 0 0 0 TIMOTHY GARDNER DIRECTOR 1.00 X 0 0 0 CHARLES GOLDIE DIRECTOR (FROM JAN '23) 1.00 X 0 0 0 SIMON HEDLEY DIRECTOR 1.00 X 0 0 0 PAUL HILLAR DIRECTOR (FROM JAN '23) 1.00 X 0 0 0 JAMES HOLE DIRECTOR (TO MAR '23) 1.00 X 0 0 0 JUSTIN KEITH DIRECTOR 1.00 X 0 0 0 VIJAY MANGHNANI DIRECTOR (TO JAN '23) 1.00 X 0 0 0 RYAN MATHER DIRECTOR 1.00 X 0 0 0 DOUGLAS MAY DIRECTOR 1.00 X 0 0 0 MATT PASKIN DIRECTOR 1.00 X 0 0 0 JOHN RATHBERGER DIRECTOR (TO JAN '23) 1.00 X 0 0 0 KATHLEEN REARDON DIRECTOR 1.00 X 0 0 0 PHILIP SANDERCOX DIRECTOR (FROM APR '23) 1.00 X 0 0 0 DICK SANFORD DIRECTOR (TO MAY '23) 1.00 X 0 0 0 CHRIS SCHAPER DIRECTOR (TO JAN '23) 1.00 X 0 0 0 JON SCHRIBER DIRECTOR (FROM AUG '23) 1.00 X 0 0 0 ANDREW SMITH DIRECTOR 1.00 X 0 0 0 KEN VIVIAN NOT LISTED 1.00 X 0 0 0 NATHANIEL WALLMAN DIRECTOR (FROM APR '23) 1.00 X 0 0 0 JAMES WIXTEAD DIRECTOR 1.00 X 0 0 0 MARCUS WINTER DIRECTOR 1.00 X 0 0 0 PAUL WOLLMANN DIRECTOR 1.00 X 0 0 0 BRIAN YOUNG DIRECTOR 1.00 X 0 0 0 FRANKLIN W NUTTER PRESIDENT 40.00 X 1173011 0 77088 LEE COVINGTON PRESIDENT-ELECT 40.00 X 139136 0 10213 JOSEPH B SIEVERLING SENIOR VICE PRESIDENT 40.00 X 525736 0 89974 MARSHA A COHEN SENIOR VICE PRESIDENT 40.00 X 424609 0 79623 NICOLE C AUSTIN SENIOR VICE PRESIDENT 40.00 X 405941 0 54822 KARALEE C MORELL SENIOR VICE PRESIDENT 40.00 X 391211 0 67974 WARREN S WILLIAMSON VICE PRESIDENT 40.00 X 378832 0 68510 DENNIS C BURKE VICE PRESIDENT 40.00 X 297898 0 71414 PAUL MARTIN VICE PRESIDENT 40.00 X 236781 0 54738 JOSEPH C SHUE VICE PRESIDENT 40.00 X 222886 0 75478 RAHEL WILLIS DIR. OF FINANCE & BUSINESS 40.00 X 202637 0 53833 4398678 0 703667 16 0 1 0 LOEWS PORTOFINO BAY HOTEL 5601 UNIVERSAL BLVD ORLANDO FL 32819 HOTEL SERVICES 343798 WESTIN GRAND CENTRAL 212 E 42ND ST NEW YORK NY 10017 HOTEL SERVICES 291457 WILLIAMS & JENSEN PLLC 701 8TH STREET NW WASHINGTON DC 20001 OUTSIDE COUNSEL, FEDERAL REPRESENTATIVE 180598 SEA ISLAND COMPANY 100 CLOISTER DR SEA ISLAND GA 31563 HOTEL SERVICES 126075 6 MEMBERSHIP ASSESSMENTS 900099 7440924 7440924 CONFERENCE FEES 900099 2199010 2199010 PUBLICATIONS 513190 44092 44092 9684026 364673 364673 261615 314670 -53055 -53055 -53055 228711 228711 228711 10224355 7485016 0 2739339 70500 3439338 2755524 320004 286404 270154 20126 127725 813128 96273 473875 8258 40624 69528 662723 226094 869113 274 54030 40677 LIBRARY AND SUBSCRIPTIO 146803 TAXES & LICENSES 27987 MEMBERSHIP DUES 11979 POLITICAL CONTRIBUTIONS 10250 22542 10863933 244167 272250 3123931 1551327 24615 51467 74141 94078 1416352 1199387 247048 216965 1764742 3157134 6293845 6227496 11772489 11570717 302340 496839 519633 484075 6850043 6717558 7672016 7698472 X 4100473 3872245 4100473 3872245 11772489 11570717 -639578 411350 0 X 0 1 X 1 0 10250 10250 10250 1 TIM TEMPLE FOR LOUISIANA 2133 SILVERSIDE DR STE K BATON ROUGE LA 70808 832002733 2500 FRIENDS OF JIM BOYD 1103 HAYS STREET TALLAHASSEE FL 32301 884265875 2000 FRIENDS OF MIKE PO BOX 23242 JACKSON MS 39225 824383741 1000 NYS DEMOCRATIC ASSEMBLY CAMPAIGN COMMITTEE 107 WASHINGTON AVE STE 1LL ALBANY NY 12210 133041656 1000 TOMMY GREGORY FOR FLORIDA 133 HARBOR DR S VENICE FL 34285 824787248 1000 WYMAN DUGGAN FOR FLORIDA 4724 LONG BOW ROAD JACKSONVILLE FL 32210 822363950 1000 FRIENDS OF WILL BARCLAY BARCLAY DAMON TOWER 125 EAST JEFFE SYRACUSE NY 13202 043658510 750 FRIENDS OF SENATOR BRESLIN PO BOX 2171 ALBANY NY 12220 161518968 500 WEPRIN FOR ASSEMBLY 8682 PALERMO ST HOLLIS NY 11423 921685288 500 0 0 1 6831359 1547533 -503538 1043995 1434585 -390590 1063370 881078 182292 352982 318309 34673 216965 LEASES 3247235 DEFERRED COMPENSATION 2907077 DEPOSITS 73184 6227496 LEASE LIABILITIES 3810481 DEFERRED COMPENSATION 2907077 6717558 X 10635705 411350 411350 10224355 0 10224355 10863933 0 10863933 0 10863933 PART X, LINE 2: MANAGEMENT HAS CONCLUDED THAT THE ASSOCIATION HAS PROPERLY MAINTAINED ITS EXEMPT STATUS AND THAT THERE ARE NO UNCERTAIN TAX POSITIONS AS OF DECEMBER 31, 2023. 1 AMERICAN PROPERTY CASUALTY INSURANCE ASSOCIATION 8700 WEST BRYN MAWR 1200S CHICAGO IL 60631 200487810 501(C)(6) 25000 0 EVENT SPONSORSHIP AMERICAN CONSUMER INSTITUTE CENTER FOR CITIZEN RESEARCH PO BOX 2161 RESTON VA 20195 208601897 501(C)(3) 10000 0 RESEARCH RAND CORPORATION 1776 MAIN STREET PO BOX 2138 SANTA MONICA CA 90407 951958142 501(C)(3) 10000 0 GENERAL SUPPORT THE COUNCIL OF INSURANCE AGENTS & BROKERS 701 PENNSYLVANIA AVE NW NO 750 WASHINGTON DC 20004 131952497 501(C)(6) 10000 0 EVENT SPONSORSHIP 2 2 PART I, LINE 2: THE ORGANIZATION PROVIDES GRANTS TO OTHER CHARITABLE ORGANIZATIONS FOR USE IN THE INTEREST OF THE RECIPIENT ORGANIZATION'S CHARITABLE PURPOSE. THE ORGANIZATION IS INFORMED OF THE EVENTS CONDUCTED AND STUDIES PRODUCED WITH THE FUNDS THAT HAVE BEEN GRANTED. X 1 1 X X X X 0 0 0 FRANKLIN W NUTTER PRESIDENT 748956 0 400000 0 24055 0 43500 0 33588 0 1250099 0 0 0 JOSEPH B SIEVERLING SENIOR VICE PRESIDENT 442964 0 80000 0 2772 0 48400 0 41574 0 615710 0 0 0 MARSHA A COHEN SENIOR VICE PRESIDENT 349418 0 70000 0 5191 0 48400 0 31223 0 504232 0 0 0 NICOLE C AUSTIN SENIOR VICE PRESIDENT 370115 0 35000 0 826 0 48400 0 6422 0 460763 0 0 0 KARALEE C MORELL SENIOR VICE PRESIDENT 336211 0 55000 0 0 0 48400 0 19574 0 459185 0 0 0 WARREN S WILLIAMSON VICE PRESIDENT 308202 0 70000 0 630 0 48400 0 20110 0 447342 0 0 0 DENNIS C BURKE VICE PRESIDENT 250894 0 40000 0 7004 0 41733 0 29681 0 369312 0 0 0 JOSEPH C SHUE VICE PRESIDENT 187196 0 35000 0 690 0 33245 0 42233 0 298364 0 0 0 PAUL MARTIN VICE PRESIDENT 201781 0 35000 0 0 0 35534 0 19204 0 291519 0 0 0 RAHEL WILLIS DIR. OF FINANCE & BUSINESS 171731 0 30000 0 906 0 30127 0 23706 0 256470 0 0 0 PART I, LINE 1A THE PRESIDENT RECEIVES TAX GROSS-UP PAYMENTS TO OFFSET THE TAX LIABILITY ON SUPPLEMENTAL COMPENSATION CONTRIBUTIONS. THESE AMOUNTS ARE TREATED AS TAXABLE. FORM 990, PART VI, SECTION A, LINE 6 THE ORGANIZATION HAS THREE TYPES OF MEMBERSHIP: UNDERWRITING MEMBERS, AFFILIATE BROKER MEMBERS, AND LIFE RE AFFILIATES. EACH UNDERWRITING MEMBER'S VOTING RIGHT IS A FUNCTION OF THAT MEMBER'S DUES, WHICH IS BASED ON REINSURANCE PREMIUMS WRITTEN IN THE US. FORM 990, PART VI, SECTION B, LINE 11B AFTER FORM 990 IS PREPARED BY INTERNAL ACCOUNTING STAFF AND AN OUTSIDE CPA FIRM, IT IS REVIEWED BY RAA MANAGEMENT (FINANCIAL OFFICER AND PRESIDENT) FOR ACCURACY AND COMPLETENESS. FORM 990 IS THEN FORWARDED TO THE SECRETARY/TREASURER OF THE RAA BOARD FOR REVIEW PRIOR TO FILING. FORM 990, PART VI, SECTION B, LINE 12C A CONFLICT OF INTEREST POLICY FOR THE STAFF IS COVERED UNDER 2.9 OF THE EMPLOYEE MANUAL (PAGES 12 & 13) AND IS RATIFIED EVERY YEAR. RAA ADDED A CONFLICT OF INTEREST POLICY FOR OFFICERS IN 2008. EMPLOYEES SIGN THE CONFLICT OF INTEREST POLICY ANNUALLY. FORM 990, PART VI, SECTION B, LINE 15A THE COMPENSATION PROCESS FOR DETERMINING THE PRESIDENT/CEO'S COMPENSATION IS AS FOLLOWS: THE RAA ADMINISTRATION COMMITTEE WILL ANNUALLY REVIEW THE PRESIDENT/CEO'S COMPENSATION. BASE SALARY WILL BE REASONABLY COMPETITIVE WITH BASE SALARIES PAID TO THE CHIEF EXECUTIVE OFFICER OF OTHER NATIONAL TRADE ASSOCIATIONS OF COMPARABLE STATURE AND COMPLEXITY ("PEER ASSOCIATIONS"). RAA WILL ALSO USE FORM 990 OF OTHER ORGANIZATIONS OF SIMILAR SIZE, A COMPENSATION SURVEY, AND INSURANCE INDUSTRY COMPENSATION PERIODICALLY TO DETERMINE THE PRESIDENT/CEO'S COMPENSATION. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION DOES NOT MAKE ITS GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, OR FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC. REINSURANCE ASSOCIATION OF AMERICA POLITICAL ACTION COMMITTEE 1445 NEW YORK AVE NW NO 700 WASHINGTON DC 20005 POLITICAL ACTIVITY DC 527(F) RAA 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 1 0 1 0 0