2025-10-30T11:24:35-05:00 2024-12-31 991856619 GRANT THORNTON ADVISORS LLC 757 THIRD AVENUE 9TH FLOOR NEW YORK NY 100172013 990 2024-01-01 020571577 GLOBAL ASSOCIATION OF RISK PROFESSIONALS INC GLOB 2017197210 111 TOWN SQUARE PLACE 14TH FLR JERSEY CITY NJ 07310 PRISCELLA CERVANTES CFO 2017197259 2025-10-30 1 0 SCOTT THOMPSETT P00741490 2125990100 2024 2025-03-06 01:10:19Z RICHARD APOSTOLIK 111 TOWN SQUARE PLACE 14TH FLR JERSEY CITY NJ 07310 44952537 0 X WWW.GARP.COM X 2002 NJ TO ADVANCE THE RISK PROFESSION THROUGH EDUCATION, TRAINING & THE PROMOTION OF BEST PRACTICES GLOBALLY. 13 12 93 0 961700 0 0 0 43193743 37001823 4514577 3005334 763758 1433991 48472078 41441148 1000 3500 0 0 24221460 24853493 0 0 0 18464991 17827429 42687451 42684422 5784627 -1243274 65472728 61229289 23508673 18847387 41964055 42381902 X GARP IS THE WORLD'S LEADING PROFESSIONAL ASSOCIATION FOR RISK MANAGERS, DEDICATED TO THE ADVANCEMENT OF THE PROFESSION THROUGH EDUCATION, RESEARCH, AND THE PROMOTION OF BEST PRACTICES. THE GLOBAL ASSOCIATION OF RISK PROFESSIONALS (GARP) IS A NOT-FOR-PROFIT ORGANIZATION AND THE ONLY GLOBALLY RECOGNIZED MEMBERSHIP ASSOCIATION FOR RISK MANAGERS. GARP'S GOAL IS TO HELP CREATE A CULTURE OF RISK AWARENESS WITHIN ORGANIZATIONS, FROM ENTRY LEVEL TO BOARD LEVEL. IN THE AREA OF FINANCIAL RISK MANAGEMENT, GARP SETS THE GLOBAL STANDARD IN PROFESSIONAL DESIGNATION WITH THE FRM (FINANCIAL RISK MANAGER) CERTIFICATION AND SCR (SUSTAINABILITY AND CLIMATE) CERTIFICATE. THROUGH OUR EDUCATIONAL PROGRAMS, SPECIALIZED CONTENT, IN-PERSON OR ONLINE EVENTS, AND CHAPTER PROGRAM, GARP PROMOTES BEST PRACTICES IN RISK MANAGEMENT AND SUPPORTS ONGOING PROFESSIONAL AND CAREER DEVELOPMENT FOR RISK MANAGERS. 0 0 SEE SCHEDULE OPROFESSIONAL CERTIFICATION & EDUCATIONAL PROGRAMS CERTIFICATION: GARP SETS THE GLOBAL STANDARD IN PROFESSIONAL CERTIFICATION WITH THE FRM (FINANCIAL RISK MANAGER) CERTIFICATION AND THE SCR (SUSTAINABILITY AND CLIMATE RISK) CERTIFICATE. IT OFFERS THESE EXAMS ANNUALLY. THESE PROGRAMS ARE RIGOROUS AND VERY WELL RESPECTED ACROSS THE GLOBE. BY DEMONSTRATING EXPERTISE AND COMMITMENT TO BETTER RISK MANAGEMENT PRACTICES, CERTIFIED FRMS AND SCR HOLDERS STAND APART IN THEIR RESPECTIVE ORGANIZATIONS. EDUCATION AND AWARENESS: EVERYONE HAS AN IMPORTANT ROLE TO PLAY IN SUPPORTING A ROBUST RISK CULTURE. WHETHER IT IS EDUCATING AN ENTERPRISE, OR EDUCATING FINANCIAL PROFESSIONALS ACROSS AN ENTIRE COUNTRY, GARP PARTNERS WITH FIRMS AND CENTRAL BANKS TO DELIVER FOUNDATIONAL AND ADVANCED RISK AWARENESS PROGRAMS. THROUGH THESE PROGRAMS WE HAVE ENABLED TENS OF THOUSANDS OF FINANCE PROFESSIONALS GLOBALLY TO PROMOTE A RISK-AWARE CULTURE. SEE SCHEDULE OBENCHMARKING INITIATIVE AND RISK INTELLIGENCE GARP BENCHMARKING INITIATIVE (GBI): IN THIS TIME OF INCREASING ECONOMIC GLOBALIZATION AND MARKET INTERCONNECTEDNESS, THE CAUSES OF AND APPROACHES TO DEALING WITH GLOBAL SYSTEMIC RISK ISSUES ARE OF IMMENSE IMPORTANCE. BANKS AS WELL AS THEIR REGULATORS ARE IN NEED OF WAYS TO APPROPRIATELY DEVELOP, IMPLEMENT AND ANALYZE STUDIES TO TEST AND BENCHMARK BANK RISK SYSTEMS AND APPROACHES. GBI IS PLAYING A MAJOR AND GLOBALLY UNIQUE ROLE IN ANALYZING THE PROCESSES RELATED TO HYPOTHETICAL PORTFOLIO EXERCISES, QUANTITATIVE IMPACT STUDIES, AND OTHER MUCH NEEDED BENCHMARKING ACTIVITIES.RISK INTELLIGENCE: KEEPING UP WITH THE EVER-EVOLVING RISK LANDSCAPE IS CHALLENGING, BUT ESSENTIAL FOR RISK PROFESSIONALS AND THE INDUSTRY TO COLLECTIVELY SAFEGUARD THE WORLD'S FINANCIAL MARKETS. GARP DELIVERS CRITICAL RISK INTELLIGENCE: INDUSTRY SURVEYS, SPECIAL REPORTS, NEWS, ANALYSIS, WHITEPAPERS, WEBINARS AND MORE, TO ENSURE THAT THE COMMUNITY HAS THE VERY LATEST INTELLIGENCE TO DRIVE INFORMED DECISION MAKING. ANNUAL CONFERENCE: THE ORGANIZATION OFFERS AN ANNUAL CONFERENCE IN ADDITION TO OCCASIONAL SEMINARS AND OTHER EVENT PROGRAMS, OFFERS DISCOUNTS ON GARP AND OTHER THIRD-PARTY PUBLICATIONS, A MEMBERSHIP PROGRAM, AND OFFERS ACCESS TO A CAREER CENTER TO POST RESUMES AND SEARCH FOR JOB OPPORTUNITIES. CONNECTING THE RISK LEADERSHIP AND THE GLOBAL RISK COMMUNITY: ADDRESSING RISK IS A TEAM EFFORT, AND WITH OVER 112,000 MEMBERS IN 150 COUNTRIES AND TERRITORIES - GARP MEMBERS ARE MAKING A DIFFERENCE. GARP MEMBERSHIP PROVIDES THE COMMUNITY WITH ENGAGEMENT OPPORTUNITIES TO HAVE A VOICE IN INDUSTRY RESEARCH, UNPARALLELED NETWORKING OPPORTUNITIES, ACCESS TO RISK INTELLIGENCE, AND MUCH, MUCH MORE. OUR CONVENTIONS, TOGETHER WITH 51 CHAPTER DIRECTORS REPRESENTING 29 CHAPTERS IN MORE THAN A DOZEN COUNTRIES AROUND THE WORLD, GIVE THE COMMUNITY THE OPPORTUNITY TO MEET AND LEARN FROM ONE ANOTHER. ADDITIONALLY, OUR CONTINUING PROFESSIONAL DEVELOPMENT (CPD) PROGRAM OFFERS RISK PROFESSIONALS ACCESS TO THE VERY LATEST IN RISK EDUCATION, PAVING THE WAY FOR A CLEAR VIEW OF THE RISK HORIZON.ONGOING DIALOG BETWEEN REGULATORS, PRACTITIONERS AND LEADING ACADEMIC EXPERTS IS CRITICAL TO HELP BETTER UNDERSTAND AND SOLVE FOR THE EVER-INCREASING NUMBER OF FINANCIAL AND OPERATIONAL RISK CHALLENGES FACING THE WORLD'S MARKETS TODAY. IT'S IMPORTANT FOR THIS KIND OF DIALOG TO BE OPEN, OBJECTIVE AND NOT MOTIVATED BY PARTISAN AGENDA. WE FACILITATE OBJECTIVE AND NON-PARTISAN DIALOGUE THROUGH REGULARLY HOSTING GLOBAL RISK FORUMS WHERE REGULATORS, PRACTITIONERS, AND LEADING ACADEMICS COLLECTIVELY AND COLLABORATIVELY ADDRESS IMPORTANT RISK ISSUES. 0 0 0 1 0 0 0 0 0 1 0 0 1 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 1 1 0 0 1 58 0 1 93 1 1 1 1 UK HK CH 0 0 0 0 1 0 X 13 12 0 0 0 0 1 1 0 1 1 0 0 1 1 1 0 1 0 1 0 0 X PRISCELLA CERVANTES 2017197259 111 TOWN SQUARE PLACE 14 FL JERSEY CITY NJ 07310 X RICHARD APOSTOLIK PRESIDENT & CEO 45.00 15.00 X X 1991087 0 50219 BRADFORD HU CHAIRMAN 1.00 0.00 X X 0 0 0 BEN GOLUB TRUSTEE 1.00 0.00 X 0 0 0 ANDREW GRAY TRUSTEE 1.00 0.00 X 0 0 0 GEOFFREY GREENER TRUSTEE 1.00 0.00 X 0 0 0 STUART LEWIS TRUSTEE 1.00 0.00 X 0 0 0 JACQUES LONGERSTAEY TRUSTEE 1.00 0.00 X 0 0 0 VICTOR NG TRUSTEE 1.00 0.00 X 0 0 0 LEWIS O'DONALD TRUSTEE 1.00 0.00 X 0 0 0 ALESSA QUANE TRUSTEE 1.00 0.00 X 0 0 0 FRANK RONCEY TRUSTEE 1.00 0.00 X 0 0 0 ALAN SMITH TRUSTEE 1.00 0.00 X 0 0 0 PETER TUFANO TRUSTEE 1.00 0.00 X 0 0 0 PRISCELLA CERVANTES CFO/CAO 38.00 2.00 X 842635 0 67376 CHRISTOPHER J DONOHUE MANAGING DIRECTOR 50.00 0.00 X 1066809 0 67325 JEFFREY MAH CIO 40.00 0.00 X 493301 0 68596 LILY PAN MANAGING DIRECTOR 40.00 0.00 X 333172 0 50098 JOANNA PAISLEY CO PRESIDENT GRI 40.00 0.00 X 725700 0 0 WILLIAM HENRY MAY SVP, GLOBAL HEAD OF RESEARCH 40.00 0.00 X 687753 0 70683 RACHEL LERNER GENERAL COUNSEL 40.00 0.00 X 837640 0 68480 MICHAEL WILLIAM SELL HEAD OF BUSINESS DEVELOPMENT 40.00 0.00 X 568665 0 65192 JULIAN HUNGCHUN CHEN SVP, CERTIFICATION AND EDU 40.00 0.00 X 439945 0 71294 7986707 0 579263 55 0 1 0 FULTRAN SOLUTIONS INC 2025 STATE ROUTE 27 STE 110 EDISON NJ 08817 IT SERVICES 975477 BEIJING ZHONG CHENG YU DA EDUCATION ROOME101/E102 XIAMEN BUILDING NO BEIJING CH RISK PROGRAM 842534 GENISIS TECHNOLOGY SOLUTIONS INC 856 RT 206 HILLSBOROUGH NJ 08844 IT SERVICES 331898 ROONEYPARTNERS LLC 477 MADISON AVE NEW YORK NY 10022 MARKETING 288985 BACAL LAW GROUP PC 6991 EAST CAMELBACK RD SCOTTSDALE AZ 85251 LEGAL 252784 12 EXAMS AND COURSE MATERIALS 900099 34192420 34192420 MEMBERSHIP DUES 900099 1642230 1642230 COUNTRY SPECIFIC PROGRAMS 900099 817187 817187 INSTRUCTIONAL SEMINARS 900099 293986 293986 WEB SEMINAR 900099 56000 56000 37001823 1516723 1516723 3441 3441 5000000 3511389 1488611 1488611 1488611 GLOBAL BENCHMARKING INITIATIVE 900099 1371000 431000 940000 BANNER AD INCOME 900099 21700 21700 37850 37850 1430550 41441148 37470673 961700 3008775 3500 4427004 16540519 538386 2230826 1116758 458795 237214 12367 463729 3004717 213597 1333612 3069895 377488 86897 1038167 EXAM COSTS 7017833 PAYROLL SERVICE FEES 221012 EDUCATIONAL CONTENT 94154 197952 42684422 2430014 5597435 6191143 981179 544574 387794 1404963 1347474 14538464 13480957 1950621 1057507 41975556 41757375 1484021 1750090 9491836 8350435 65472728 61229289 6772432 4318812 5408926 4712568 11327315 9816007 23508673 18847387 X 41964055 42381902 41964055 42381902 65472728 61229289 X -1243274 1746343 -85222 X 0 1 X 1 0 1 1 0 SCHEDULE C THE ORGANIZATION DID NOT ENGAGE IN ANY LOBBYING ACTIVITIES DURING 2024. 8488178 7430671 1057507 6050286 6050286 0 1057507 SECURITY DEPOSITS 451393 OPERATING LEASE RIGHT-OF-USE ASSETS 7899042 8350435 OPERATING LEASE LIABILITY 9816007 9816007 X PART X, LINE 2: ASC 740 THE ASSOCIATION FOLLOWS THE PROVISIONS OF ASC 740, INCOME TAXES. ASC 740-10 CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THESE REQUIREMENTS STIPULATE THAT THE TAX EFFECTS FROM AN UNCERTAIN TAX POSITION CAN BE RECOGNIZED IN THE CONSOLIDATED FINANCIAL STATEMENTS ONLY IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE ASSOCIATION IS EXEMPT FROM FEDERAL INCOME TAXATION BY VIRTUE OF BEING AN ORGANIZATION DESCRIBED IN SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE ("CODE"). NEVERTHELESS, THE ASSOCIATION MAY BE SUBJECT TO TAX ON INCOME UNRELATED TO ITS EXEMPT PURPOSE, UNLESS THAT INCOME IS OTHERWISE EXCLUDED BY THE CODE. AS OF DECEMBER 31, 2023 AND 2022, MANAGEMENT HAS DETERMINED THAT THERE ARE NO OTHER SIGNIFICANT UNCERTAIN TAX POSITIONS THAT WOULD REQUIRE RECOGNITION OR DISCLOSURE IN THE ACCOMPANYING CONSOLIDATED FINANCIAL STATEMENTS. 1 CENTRAL AMERICA AND THE CARIBBEAN 0 0 PROGRAM SERVICES FRM/ERP EXAM 19996 EAST ASIA AND THE PACIFIC 1 4 PROGRAM SERVICES FRM/ERP EXAM 3398194 EUROPE (INCLUDING ICELAND & GREENLAND) 1 11 PROGRAM SERVICES FRM/ERP EXAM 1129390 MIDDLE EAST AND NORTH AFRICA 0 0 PROGRAM SERVICES FRM/ERP EXAM 143392 NORTH AMERICA 0 0 PROGRAM SERVICES FRM/ERP EXAM 252035 RUSSIA AND NEIGHBORING STATES 0 0 PROGRAM SERVICES FRM/ERP EXAM 29338 SOUTH AMERICA 0 0 PROGRAM SERVICES FRM/ERP EXAM 62320 SOUTH ASIA 0 0 PROGRAM SERVICES FRM/ERP EXAM 857878 SUB-SAHARAN AFRICA 0 0 PROGRAM SERVICES FRM/ERP EXAM 170130 EAST ASIA AND THE PACIFIC 0 0 GRANTMAKING RESEARCH GRANT 1000 EUROPE (INCLUDING ICELAND & GREENLAND) 0 0 GRANTMAKING RESEARCH GRANT 2500 2 15 0 0 2 15 5892543 173630 6066173 0 0 0 0 0 1 PART I, LINE 2: MONITORING OF FUNDS: EVERY YEAR SINCE 2007, GARP HAS ISSUED A CALL FOR RESEARCH PROPOSALS TO AWARD FUNDING AS A PART OF THE GARP RISK MANAGEMENT RESEARCH PROGRAM. RESEARCH PROJECTS ARE SELECTED FOR FUNDING BY A RESEARCH COMMITTEE OF RISK MANAGEMENT PRACTITIONERS, ACADEMICS AND RESEARCHERS. THE RESEARCH COMMITTEE SEEKS TO PROVIDE FUNDING FOR: 1. PROJECTS OFFERING UNIQUE APPROACHES AND INSIGHTS INTO PROBLEMS OF SIGNIFICANCE TO RISK MANAGEMENT PROFESSIONALS. 2. PROJECTS OF PARTICULAR RELEVANCE TO CURRENT GLOBAL FINANCIAL RISK MANAGEMENT ISSUES AND NEEDS; AND 3. PROJECTS WITH SIGNIFICANT POTENTIAL FOR BRIDGING THE GAP BETWEEN THEORY AND PRACTICE. UPON COMPLETION, THE AUTHORS PRESENT THEIR PAPER AT A GARP EVENT. GRANTS ARE PAID OUT ONLY AFTER SUBMISSION OF THE RESEARCH PAPERS. NO FURTHER MONITORING IS REQUIRED (ONCE THE PAPERS ARE WRITTEN AND THE CASH DISBURSED). ACCOUNTING METHOD USED: PART I, LINE 3, COLUMN (F) AND PART III, LINE 1, COLUMN (D) THE EXPENDITURES, PER REGION, ARE PRESENTED ON THE ACCRUAL BASIS OF ACCOUNTING. X X X 0 0 0 RICHARD APOSTOLIK PRESIDENT & CEO 491087 0 1500000 0 0 0 13036 0 37183 0 2041306 0 500000 0 CHRISTOPHER J DONOHUE MANAGING DIRECTOR 291809 0 775000 0 0 0 17250 0 50075 0 1134134 0 300000 0 PRISCELLA CERVANTES CFO/CAO 312635 0 530000 0 0 0 14526 0 52850 0 910011 0 150000 0 RACHEL LERNER GENERAL COUNSEL 372640 0 465000 0 0 0 16631 0 51849 0 906120 0 95000 0 WILLIAM HENRY MAY SVP, GLOBAL HEAD OF RESEARCH 317753 0 370000 0 0 0 17250 0 53433 0 758436 0 0 0 JOANNA PAISLEY CO PRESIDENT GRI 365700 0 360000 0 0 0 0 0 0 0 725700 0 0 0 MICHAEL WILLIAM SELL HEAD OF BUSINESS DEVELOPMENT 268665 0 300000 0 0 0 17250 0 47942 0 633857 0 0 0 JEFFREY MAH CIO 268301 0 225000 0 0 0 13952 0 54644 0 561897 0 0 0 JULIAN HUNGCHUN CHEN SVP, CERTIFICATION AND EDU 239945 0 200000 0 0 0 17250 0 54044 0 511239 0 0 0 LILY PAN MANAGING DIRECTOR 198172 0 135000 0 0 0 16558 0 33540 0 383270 0 0 0 FORM 990, PART VI, SECTION A, LINE 6 MEMBERS: THE ORGANIZATION HAS VARIOUS LEVELS OF DUES PAYING MEMBERS. MEMBERS INCLUDE EMPLOYEES OF MANY FIRMS OPERATING WITHIN THE FINANCIAL INDUSTRY. FORM 990, PART VI, SECTION A, LINE 7A MEMBER RIGHTS: PURSUANT TO THE ASSOCIATION'S ORGANIZING DOCUMENTS, (ARTICLE VI, SECTION 4(H)), THE ASSOCIATION'S MEMBERS ARE AUTHORIZED TO ELECT MEMBERS TO THE BOARD OF TRUSTEES. FORM 990, PART VI, SECTION B, LINE 11B REVIEW OF FORM 990: THE FORM 990 IS PREPARED BY AN INDEPENDENT TAX ADVISORY FIRM, GRANT THORNTON ADVISORS, LLC, IN CONJUNCTION WITH THE ASSOCIATION'S FINANCIAL DEPARTMENT. UPON COMPLETION, THE 990 IS REVIEWED BY THE PRESIDENT AND CFO BEFORE DISTRIBUTION TO THE CHAIRMAN OF THE BOARD OF TRUSTEES AND THE COMPENSATION COMMITTEE. THE FINAL FORM 990 IS MADE AVAILABLE TO THE ENTIRE BOARD OF TRUSTEES VIA EMAIL. FORM 990, PART VI, SECTION B, LINE 12 CONFLICT OF INTEREST POLICY MONITORING AND ENFORCEMENT: THE ASSOCIATION HAS A CONFLICT OF INTERESTS POLICY IN PLACE THAT IS USED TO IDENTIFY RELATIONSHIPS BETWEEN GARP AND ITS BOARD MEMBERS AND/OR OFFICERS. THERE IS NO FORMAL PROCEDURE IN PLACE TO MONITOR CONFLICTS OF INTEREST; NEVERTHELESS, EACH BOARD MEMBER AND OFFICER IS REQUIRED TO ANNUALLY SIGN-OFF ON THE CONFLICT OF INTEREST POLICY AND DISCLOSE ANY CONFLICTS, IF THEY EXIST. THE ORGANIZATION REVIEWS THE CONFLICT OF INTEREST POLICY ANNUALLY AT A MEETING OF THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION B, LINE 15A PROCESS FOR DETERMINING COMPENSATION: THE BOARD DETERMINES THE PRESIDENT'S SALARY VIA A COMPARISON TO OTHER FINANCIAL SERVICES NOT-FOR-PROFIT ORGANIZATIONS, THEIR PRESIDENT'S COMPENSATION AND A WIDE VARIETY OF OTHER FACTORS TO ENSURE THE COMPENSATION IS MARKET BASED AND CONSIDERS THE UNIQUE CHARACTERISTICS AND ACTIVITIES OF GARP. EMPLOYEES' SALARIES AND BONUSES ARE DETERMINED BY THE PRESIDENT BASED ON MARKET RATES FOR SPECIFIC POSITIONS. THE PRESIDENT'S SALARY AND BONUS ARE DETERMINED AND APPROVED BY THE COMPENSATION COMMITTEE ON BEHALF OF THE BOARD OF TRUSTEES. SALARIES AND BONUSES OF THE PRESIDENT'S DIRECT REPORTS ARE DETERMINED BY THE PRESIDENT BASED ON MARKET RATES FOR SPECIFIC POSITIONS AND RECOMMENDED TO THE COMPENSATION COMMITTEE FOR THEIR REVIEW AND APPROVAL. THE INDIVIDUALS THAT MAKE UP THE COMPENSATION COMMITTEE ARE ALL INDEPENDENT PRACTITIONERS IN THE FINANCIAL SERVICES INDUSTRY WHO HAVE FIRST-HAND EXPERIENCE IN COMPENSATING LARGE GROUPS OF PROFESSIONALS. THIS EXPERIENCE AND KNOWLEDGE OF THE INDUSTRY ASSISTS THE COMMITTEE TO DETERMINE REASONABLE AND APPROPRIATE COMPENSATION FOR THE PRESIDENT AND HIS DIRECT REPORTS. FORM 990, PART VI, SECTION C, LINE 19 DISCLOSURE OF DOCUMENTS: THE ASSOCIATION'S FORM 990 IS AVAILABLE AT ITS MAIN PLACE OF BUSINESS AND ON THE INTERNET AT WWW.GUIDESTAR.ORG. THE ASSOCIATION MAKES ITS CONFLICT OF INTEREST POLICY, ITS ORGANIZING DOCUMENTS AND ITS FINANCIAL STATEMENTS AVAILABLE ON ITS WEBSITE, WWW.GARP.COM. FORM 990, PART VII: THE ORGANIZATION, IN A FULL TRANSPARENCY POSTURE TO REPORTING, IS REPORTING ALL BENEFITS IN FULL IN PART VII, COLUMN F AND NOT APPLYING THE $10,000 PER ITEM EXCEPTION FOR CERTAIN BENEFITS. FORM 990, PART VII, LINE 5, PART V, LINE 2B AND PART IX, LINES 10 & 24B: FEDERAL EMPLOYMENT TAX FILINGS AND PAYROLL TAXES EXPENSE: GARP USES THE SERVICES OF A PROFESSIONAL EMPLOYER ORGANIZATION (PEO). THE PEO LEASES EMPLOYEES TO GARP AND COVERS ALL HUMAN RESOURCES AND PAYROLL FUNCTIONS. W-2S AND ALL EMPLOYMENT TAX RETURNS ARE FILED BY THE PEO INCLUDED IN THE OVERALL FEE THAT GARP PAYS TO THE PEO IS THE AMOUNT FOR ALL RELEVANT PAYROLL TAXES. THIS TOTAL FEE IS SHOWN AS ONE NUMBER ON FORM 990, AS A PAYROLL SERVICE FEE, ON LINE 24B. FORM 990, PART XI, LINE 9: FOREIGN CURRENCY LOSS -85,222. GARP-UK LTD (UK TAX REF #6801977815814) 2ND FL BENGAL WING 9A DEVONSHIRE S LONDON UK EC2M 4YN SUPPORTS GARP UK 3111687 11051654 GARP GARP HK LIMITED (HK TAX REF #38379370000090) 4/F WORLD COMMERCE CENTRE TSIM SHA TSUI HK SUPPORTS GARP HK 872565 3561849 GARP GARP SG PTE LTD (SN TAX REF #202003118M) 6 SHENTON WAY OUE DOWNTOWN SN 068809 SUPPORTS GARP SN 9299 7338 GARP FINANCIAL CRIME AND INTELLIGENCE INSIGHTS INC 111 TOWN SQUARE PLACE 14TH FLR JERSEY CITY NJ 07310 873927948 FINANCIAL SECURITY DE GARP C 438735 1.00000 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 PART I, IDENTIFICATION OF DISREGARDED ENTITES DUE TO SPACE LIMITATIONS ON THE FACE OF SCHEDULE R, THE ASSOCIATION IS PROVIDING THE FOLLOWING INFORMATION ABOUT EACH DISREGARDED ENTITY'S PRINCIPAL BUSINESS ACTIVITY. 1. GARP-UK LTD A SERVICE COMPANY THAT SUPPORTS GARP US' ACTIVITIES. 2. GARP HK LIMITED TO DEVELOP GARP CERTIFICATION AND RISK EDUCATION BUSINESS IN ASIA. 3. GARP SG PTE. LTD. BUSINESS SUPPORT & MARKETING SERVICES TO HEAD OFFICE & BUSINESS DEVELOPMENT