TY 2014 Form 990

(A) Name and Title	(B) Average hours per week (list any hours for related organizations below dotted line)	(D) Reportable compensation from the organization (W- 2/1099-MISC)	(E) Reportable compensation from related organizations (W- 2/1099-MISC)	(F) Estimated amount of other compensation from the organization and related organizations
(1) USAA D Pickens........................................................................ Gov Committee	0.00 .......................0.00	X				0
(2) Builders Mutual JVisintine........................................................................ Gov Committee	0.00 .......................0.00	X				0
(3) Hartford Fire Ins A Montano........................................................................ Gov Committee	0.00 .......................0.00	X				0
(4) American Home I Feuerlicht........................................................................ Gov Committee	0.00 .......................0.00	X				0
(5) Nationwide Mutual TSouder........................................................................ Gov Committee	0.00 .......................0.00	X				0
(6) The Travelers Ind Co TTorcia........................................................................ Gov Committee	0.00 .......................0.00	X				0
(7) Allstate Ins Co BDonlan........................................................................ Gov Committee	0.00 .......................0.00	X				0
(8) Auto-Owners Ins D Klasing........................................................................ Gov Committee	0.00 .......................0.00	X				0
(9) NC Farm Bureau Mut RBatdorff........................................................................ Chairman	0.00 .......................0.00	X				0
(10) Unitrin AutoHome E Speich........................................................................ Gov Committee	0.00 .......................0.00	X				0
(11) State Farm Mut ABentley........................................................................ Gov Committee	0.00 .......................0.00	X				0
(12) Progressive Cas KMcGee........................................................................ Gov Committee	0.00 .......................0.00	X				0
(13) Raymond Evans........................................................................ General Manager	37.50 .......................0.00		X			249,134
(14) David Sink........................................................................ CFO	37.50 .......................0.00		X			170,839
(15) Susan Taylor........................................................................ Chief Operating Officer	37.50 .......................0.00			X		174,843
(16) Shelley Chandler........................................................................ Chief Info Officer	37.50 .......................0.00				X	144,545
(17) Vicki Godbold........................................................................ Chief Adm Officer	37.50 .......................0.00				X	154,052

(A) Name and business address	(B) Description of services	(C) Compensation
Ernst & Young 200 Plaza Drive Secaucus,NJ07094	Audit	253,500
2910 Sumner LLC PO Box 33483 Raleigh,NC27636	Building rental	399,200
Young Moore & Henderson 3101 Glenwood Ave Raleigh,NC27622	Legal - NCRB	1,620,417
Wellington Management Company LLP 280 congress Street Boston,MA02210	Invstmnt Mgmt - NCRF	811,689
Spectrum Partners LLC 7701 France Ave So Ste 450 Edina,MN554353200	IT Mgmt & Consulting	300,000
2 Total number of independent contractors (including but not limited to those listed above) who received more than $100,000 of compensation from the organization 9

Part X Balance Sheet Check if Schedule O contains a response or note to any line in this Part X ..............
	1	Cash–non-interest-bearing .............		1	0
2	Savings and temporary cash investments .........	1,824,379	2	1,053,741
3	Pledges and grants receivable, net ...........		3	0
4	Accounts receivable, net .............	52,170	4	39,852
5	Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of Schedule L ..................
			5	0
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
			6	0
7	Notes and loans receivable, net .............		7	0
8	Inventories for sale or use ..............		8	0
9	Prepaid expenses and deferred charges ..........		9	0
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a
b	Less: accumulated depreciation .....	10b			10c	0
11	Investments—publicly traded securities ..........		11	0
12	Investments—other securities. See Part IV, line 11 .....		12	0
13	Investments—program-related. See Part IV, line 11 .....		13	0
14	Intangible assets ...............		14	0
15	Other assets. See Part IV, line 11 ...........	454,579	15	534,419
16	Total assets. Add lines 1 through 15 (must equal line 34)......	2,331,128	16	1,628,012
	17	Accounts payable and accrued expenses .........	-17,416	17	-17,312
18	Grants payable .................		18
19	Deferred revenue ................		19
20	Tax-exempt bond liabilities .............		20
21	Escrow or custodial account liability. Complete Part IV of Schedule D..		21
22	Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
	persons. Complete Part II of Schedule L..........		22
23	Secured mortgages and notes payable to unrelated third parties ..		23
24	Unsecured notes and loans payable to unrelated third parties ....		24
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D....................	1,007,664	25	1,084,477
26	Total liabilities. Add lines 17 through 25.........	990,248	26	1,067,165
		Organizations that follow SFAS 117 (ASC 958), check here and complete lines 27 through 29, and lines 33 and 34.
27	Unrestricted net assets ..............		27
28	Temporarily restricted net assets ...........		28
29	Permanently restricted net assets ...........		29
	Organizations that do not follow SFAS 117 (ASC 958), check here and complete lines 30 through 34.
30	Capital stock or trust principal, or current funds ........		30
31	Paid-in or capital surplus, or land, building or equipment fund .....		31
32	Retained earnings, endowment, accumulated income, or other funds	1,340,880	32	560,847
33	Total net assets or fund balances ...........	1,340,880	33	560,847
34	Total liabilities and net assets/fund balances ........	2,331,128	34	1,628,012

- TIN:

SCHEDULE D
(Form 990)

Department of the Treasury
Internal Revenue Service

Supplemental Financial Statements

Complete if the organization answered "Yes," to Form 990,
Part IV, line 6, 7, 8, 9, 10, 11a, 11b, 11c, 11d, 11e, 11f, 12a, or 12b.
SchDMd Bullet

Attach to Form 990.
Information about Schedule D (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization

North Carolina Rate Bureau

Employer identification number

56-1179542

Part I

Organizations Maintaining Donor Advised Funds or Other Similar Funds or Accounts. Complete if the organization answered "Yes" to Form 990, Part IV, line 6.

		(a) Donor advised funds	(b) Funds and other accounts
1	Total number at end of year .........
2	Aggregate value of contributions to (during year)
3	Aggregate value of grants from (during year)
4	Aggregate value at end of year ........

Did the organization inform all donors and donor advisors in writing that the assets held in donor advised
funds are the organization's property, subject to the organization's exclusive legal control? ............

Yes No

Did the organization inform all grantees, donors, and donor advisors in writing that grant funds can be
used only for charitable purposes and not for the benefit of the donor or donor advisor, or for any other purpose conferring impermissible private benefit? ...................................

Yes No

Part II

Conservation Easements. Complete if the organization answered "Yes" to Form 990, Part IV, line 7.

Purpose(s) of conservation easements held by the organization (check all that apply).

Preservation of land for public use (e.g., recreation or education) Preservation of an historically important land area

Protection of natural habitat Preservation of a certified historic structure

Preservation of open space

Complete lines 2a through 2d if the organization held a qualified conservation contribution in the form of a conservation easement on the last day of the tax year.


a	Total number of conservation easements .......................	2a
b	Total acreage restricted by conservation easements ..................	2b
c	Number of conservation easements on a certified historic structure included in (a) .....	2c
d	Number of conservation easements included in (c) acquired after 8/17/06, and not on a historic structure listed in the National Register ....................	2d

Number of conservation easements modified, transferred, released, extinguished, or terminated by the organization during
the tax year SchDMd Bullet

Number of states where property subject to conservation easement is located SchDMd Bullet

Does the organization have a written policy regarding the periodic monitoring, inspection, handling of violations, and
enforcement of the conservation easements it holds? .............................

Yes No

Staff and volunteer hours devoted to monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet

Amount of expenses incurred in monitoring, inspecting, and enforcing conservation easements during the year
SchDMd Bullet

Does each conservation easement reported on line 2(d) above satisfy the requirements of section 170(h)(4)(B)(i) and section 170(h)(4)(B)(ii)? .......................................

Yes No

In Part XIII, describe how the organization reports conservation easements in its revenue and expense statement, and
balance sheet, and include, if applicable, the text of the footnote to the organization’s financial statements that describes
the organization’s accounting for conservation easements.

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets.
Complete if the organization answered "Yes" to Form 990, Part IV, line 8.

If the organization elected, as permitted under SFAS 116 (ASC 958), not to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide, in Part XIII, the text of the footnote to its financial statements that describes these items.

If the organization elected, as permitted under SFAS 116 (ASC 958), to report in its revenue statement and balance sheet works of art, historical treasures, or other similar assets held for public exhibition, education, or research in furtherance of public service, provide the following amounts relating to these items:

(i)

Revenue included in Form 990, Part VIII, line 1 ........................ SchDMd Bullet

(ii)

Assets included in Form 990, Part X .............................. SchDMd Bullet

If the organization received or held works of art, historical treasures, or other similar assets for financial gain, provide the
following amounts required to be reported under SFAS 116 (ASC 958) relating to these items:

Revenue included in Form 990, Part VIII, line 1 .......................... SchDMd Bullet

Assets included in Form 990, Part X ............................... SchDMd Bullet

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 52283D

Schedule D (Form 990) 2014

Page 2

Part III

Organizations Maintaining Collections of Art, Historical Treasures, or Other Similar Assets (continued)

Using the organization’s acquisition, accession, and other records, check any of the following that are a significant use of its collection items (check all that apply):

Public exhibition

Loan or exchange programs

Scholarly research

Other

Preservation for future generations

Provide a description of the organization’s collections and explain how they further the organization’s exempt purpose in
Part XIII.

During the year, did the organization solicit or receive donations of art, historical treasures or other similar
assets to be sold to raise funds rather than to be maintained as part of the organization’s collection?........

Yes No

Part IV

Escrow and Custodial Arrangements. Complete if the organization answered "Yes" to Form 990,
Part IV, line 9, or reported an amount on Form 990, Part X, line 21.

Is the organization an agent, trustee, custodian or other intermediary for contributions or other assets not
included on Form 990, Part X? ....................................

Yes No

If "Yes," explain the arrangement in Part XIII and complete the following table:


c	Beginning balance .................................	1c
d	Additions during the year ..............................	1d
e	Distributions during the year .............................	1e
f	Ending balance ...................................	1f

Did the organization include an amount on Form 990, Part X, line 21, for escrow or custodial account liability?

Yes No

If "Yes," explain the arrangement in Part XIII. Check here if the explanation has been provided in Part XIII .......

Part V

Endowment Funds. Complete if the organization answered "Yes" to Form 990, Part IV, line 10.

		(a)Current year	(b)Prior year	b (c)Two years back	(d)Three years back	(e)Four years back
1a	Beginning of year balance ....
b	Contributions ........
c	Net investment earnings, gains, and losses
d	Grants or scholarships .....
e	Other expenditures for facilities and programs ........
f	Administrative expenses ....
g	End of year balance ......

Provide the estimated percentage of the current year end balance (line 1g, column (a)) held as:

Board designated or quasi-endowment SchDMd Bullet

Permanent endowment SchDMd Bullet

Temporarily restricted endowment SchDMd Bullet

The percentages in lines 2a, 2b, and 2c should equal 100%.

Are there endowment funds not in the possession of the organization that are held and administered for the
organization by:

Yes

(i) unrelated organizations ........................

3a(i)

(ii) related organizations ........................

3a(ii)

If "Yes" to 3a(ii), are the related organizations listed as required on Schedule R? .........

Describe in Part XIII the intended uses of the organization's endowment funds.

Part VI

Land, Buildings, and Equipment. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11a. See Form 990, Part X, line 10.

Description of property		(a) Cost or other basis (investment)	(b)Cost or other basis (other)	(c) Accumulated depreciation	(d) Book value
1a	Land .................
b	Buildings ................
c	Leasehold improvements ............
d	Equipment ................
e	Other .................
Total. Add lines 1a through 1e. (Column (d) must equal Form 990, Part X, column (B), line 10(c).).......

Schedule D (Form 990) 2014

Page 3

Part VII

InvestmentsOther Securities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11b. See Form 990, Part X, line 12.

(a) Description of security or category (including name of security)		(b)Book value	(c) Method of valuation: Cost or end-of-year market value
(1)Financial derivatives
(2)Closely-held equity interests
Other








Total. (Column (b) must equal Form 990, Part X, col. (B) line 12.)

Part VIII

InvestmentsProgram Related. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11c. See Form 990, Part X, line 13.

(a) Description of investment		(b) Book value	(c) Method of valuation: Cost or end-of-year market value









Total. (Column (b) must equal Form 990, Part X, col.(B) line 13.)

Part IX

Other Assets. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11d. See Form 990, Part X, line 15.

(a) Description				(b) Book value
(1) Restricted Cash - Medical Premiums				534,418
(2) Rounding				1







Total. (Column (b) must equal Form 990, Part X, col.(B) line 15.)...........				534,419

Part X

Other Liabilities. Complete if the organization answered 'Yes' to Form 990, Part IV, line 11e or 11f. See Form 990, Part X, line 25.

1.(a) Description of liability		(b) Book value
Federal income taxes
Restricted Insurance for Retirees		550,059
Restricted Medical Premiums		534,418







Total. (Column (b) must equal Form 990, Part X, col.(B) line 25.)		1,084,477
2. Liability for uncertain tax positions. In Part XIII, provide the text of the footnote to the organization's financial statements that reports the organization's liability for uncertain tax positions under FIN 48 (ASC 740). Check here if the text of the footnote has been provided in Part XIII

Schedule D (Form 990) 2014

Page 4

Part XI Reconciliation of Revenue per Audited Financial Statements With Revenue per Return Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1	Total revenue, gains, and other support per audited financial statements .......			1	13,563,819
2	Amounts included on line 1 but not on Form 990, Part VIII, line 12:
a	Net unrealized gains (losses) on investments ....	2a
b	Donated services and use of facilities .........	2b
c	Recoveries of prior year grants ...........	2c
d	Other (Describe in Part XIII.) ............	2d	-874,462
e	Add lines 2a through 2d .....................			2e	-874,462
3	Subtract line 2e from line 1.....................			3	14,438,281
4	Amounts included on Form 990, Part VIII, line 12, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b .	4a
b	Other (Describe in Part XIII.) ...........	4b
c	Add lines 4a and 4b.......................			4c
5	Total revenue. Add lines 3 and 4c. (This must equal Form 990, Part I, line 12.) ......			5	14,438,281

Part XII Reconciliation of Expenses per Audited Financial Statements With Expenses per Return. Complete if the organization answered 'Yes' to Form 990, Part IV, line 12a.
1	Total expenses and losses per audited financial statements ...........			1	14,251,166
2	Amounts included on line 1 but not on Form 990, Part IX, line 25:
a	Donated services and use of facilities ..........	2a
b	Prior year adjustments ..............	2b
c	Other losses ................	2c
d	Other (Describe in Part XIII.) ............	2d	-76,814
e	Add lines 2a through 2d......................			2e	-76,814
3	Subtract line 2e from line 1.....................			3	14,327,980
4	Amounts included on Form 990, Part IX, line 25, but not on line 1:
a	Investment expenses not included on Form 990, Part VIII, line 7b ..	4a
b	Other (Describe in Part XIII.) ............	4b
c	Add lines 4a and 4b.......................			4c
5	Total expenses. Add lines 3 and 4c. (This must equal Form 990, Part I, line 18.) ......			5	14,327,980

Part XIII

Supplemental Information

Provide the descriptions required for Part II, lines 3, 5, and 9; Part III, lines 1a and 4; Part lV, lines 1b and 2b;
Part V, line 4; Part X, line 2; Part XI, lines 2d and 4b; and Part XII, lines 2d and 4b. Also complete this part to provide any additional information.

Return Reference	Explanation

Schedule D (Form 990) 2014

Additional Data

Software ID:	14000265
Software Version:	2014v5.0

- TIN:

Schedule J
(Form 990)

Department of the Treasury
Internal Revenue Service

Compensation Information

For certain Officers, Directors, Trustees, Key Employees, and Highest
Compensated Employees
SchJMediumBullet

Complete if the organization answered "Yes" to Form 990, Part IV, line 23.
SchJMediumBullet

Attach to Form 990.
SchJMediumBullet

Information about Schedule J (Form 990) and its instructions is at www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public Inspection

Name of the organization

North Carolina Rate Bureau

Employer identification number

56-1179542

Part I

Questions Regarding Compensation

Yes

Check the appropiate box(es) if the organization provided any of the following to or for a person listed in Form
990, Part VII, Section A, line 1a. Complete Part III to provide any relevant information regarding these items.

First-class or charter travel Housing allowance or residence for personal use

Travel for companions Payments for business use of personal residence

Tax idemnification and gross-up payments Health or social club dues or initiation fees

Discretionary spending account Personal services (e.g., maid, chauffeur, chef)

If any of the boxes in line 1a are checked, did the organization follow a written policy regarding payment or reimbursement or provision of all of the expenses described above? If "No," complete Part III to explain....

Did the organization require substantiation prior to reimbursing or allowing expenses incurred by all
directors, trustees, officers, including the CEO/Executive Director, regarding the items checked in line 1a? ..

Yes

Indicate which, if any, of the following the filing organization used to establish the compensation of the
organization's CEO/Executive Director. Check all that apply. Do not check any boxes for methods
used by a related organization to establish compensation of the CEO/Executive Director, but explain in Part III.

Compensation committee Written employment contract

Independent compensation consultant Compensation survey or study

Form 990 of other organizations Approval by the board or compensation committee

During the year, did any person listed in Form 990, Part VII, Section A, line 1a with respect to the filing organization or a related organization:

Receive a severance payment or change-of-control payment? ................

Participate in, or receive payment from, a supplemental nonqualified retirement plan? .........

Participate in, or receive payment from, an equity-based compensation arrangement? .........

If "Yes" to any of lines 4a-c, list the persons and provide the applicable amounts for each item in Part III.

Only 501(c)(3), 501(c)(4), and 501(c)(29) organizations must complete lines 5-9.

For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the revenues of:

The organization? ...........................

Any related organization? .........................

If "Yes," to line 5a or 5b, describe in Part III.

For persons listed in Form 990, Part VII, Section A, line 1a, did the organization pay or accrue any
compensation contingent on the net earnings of:

The organization? ...........................

Any related organization? .........................

If "Yes," to line 6a or 6b, describe in Part III.

For persons listed in Form 990, Part VII, Section A, line 1a, did the organization provide any non-fixed
payments not described in lines 5 and 6? If "Yes," describe in Part III ............

Were any amounts reported in Form 990, Part VII, paid or accured pursuant to a contract that was
subject to the initial contract exception described in Regulations section 53.4958-4(a)(3)? If "Yes," describe
in Part III .............................

If "Yes" to line 8, did the organization also follow the rebuttable presumption procedure described in Regulations section 53.4958-6(c)? .........................

For Paperwork Reduction Act Notice, see the Instructions for Form 990.

Cat. No. 50053T

Schedule J (Form 990) 2014

Page 2

Part II

Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees. Use duplicate copies if additional space is needed.

For each individual whose compensation must be reported in Schedule J, report compensation from the organization on row (i) and from related organizations, described in the
instructions, on row (ii). Do not list any individuals that are not listed on Form 990, Part VII.
Note. The sum of columns (B)(i)-(iii) for each listed individual must equal the total amount of Form 990, Part VII, Section A, line 1a, applicable column (D) and (E) amounts for that individual.

(A) Name and Title		(B) Breakdown of W-2 and/or 1099-MISC compensation			(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)	(F) Compensation in column(B) reported as deferred in prior Form 990
(A) Name and Title		(i) Base compensation	(ii) Bonus & incentive compensation	(iii) Other reportable compensation	(C) Retirement and other deferred compensation	(D) Nontaxable benefits	(E) Total of columns (B)(i)-(D)
1David SinkCFO	(i) (ii)	154,168 ...............................	16,671 ...............................	...............................	...............................	...............................	170,839 ...............................	...............................
2Raymond EvansGeneral Manager	(i) (ii)	227,431 ...............................	20,000 ...............................	1,703 ...............................	...............................	...............................	249,134 ...............................	...............................
3Susan TaylorChief Operating Officer	(i) (ii)	154,958 ...............................	19,885 ...............................	...............................	...............................	...............................	174,843 ...............................	...............................
4Vicki GodboldChief Adm Officer	(i) (ii)	137,948 ...............................	16,104 ...............................	...............................	...............................	...............................	154,052 ...............................	...............................

Schedule J (Form 990) 2014

Page 3

Part III

Supplemental Information

Provide the information, explanation, or descriptions required for Part I, lines 1a, 1b, 3, 4a, 4b, 4c, 5a, 5b, 6a, 6b, 7, and 8, and for Part II.
Also complete this part for any additional information.

Return Reference	Explanation
Part I, Line 1a: Relevant information in regards to selections on 1a.
Part I, Line 1b: Reason for not following policy regarding payment provisions for expenses	The reimbursement of social club dues was not documented in a written policy. During the employment search for a General Manager for the North Carolina Rate Bureau, the Bureau's governing committee verbally approved the policy of reimbursing social club dues. In addition, the paid travel for the General Manager's companion (wife) was verbally approved and such travel is infrequent, primarily for attendance of the organization's annual meeting.

Return Reference

Explanation

Part I, Line 1a: Relevant information in regards to selections on 1a.

Part I, Line 1b: Reason for not following policy regarding payment provisions for expenses

The reimbursement of social club dues was not documented in a written policy. During the employment search for a General Manager for the North Carolina Rate Bureau, the Bureau's governing committee verbally approved the policy of reimbursing social club dues. In addition, the paid travel for the General Manager's companion (wife) was verbally approved and such travel is infrequent, primarily for attendance of the organization's annual meeting.

Schedule J (Form 990) 2014

Additional Data

Software ID:	14000265
Software Version:	2014v5.0

- TIN:

SCHEDULE O
(Form 990 or 990-EZ)

Department of the Treasury
Internal Revenue Service

Supplemental Information to Form 990 or 990-EZ

Complete to provide information for responses to specific questions on
Form 990 or 990-EZ or to provide any additional information.
MediumBullet

Attach to Form 990 or 990-EZ.
MediumBullet

Information about Schedule O (Form 990 or 990-EZ) and its instructions is at
www.irs.gov/form990.

OMB No. 1545-0047

2014

Open to Public
Inspection

Name of the organization

North Carolina Rate Bureau

Employer identification number

56-1179542

Return Reference	Explanation
Client Note 1	Client Note 1 - Supplemental Information to Form 990North Carolina Rate Bureau, EIN 56-1179542Form 990, Part VI, Line 14, Written Document Retention and Destruction PolicyThe North Carolina Rate Bureau began creating a formal document retention and destruction policy during 2008. A final written policy has not yet been created.Although no formal document retention and destruction policy existed, informal policies did exist within the North Carolina Rate Bureau. Once the formal project resumes, the formal document retention and destruction policy project will consolidate these individual policies and procedures into an office-wide document and system.
Client Note 2	Client Note 2 - Supplemental Information to Form 990North Carolina Rate Bureau, EIN 56-1179542Form 990, Part VII, Line 1a, Officers, Trustees, Key Employees, and Highest Compensated EmployeesForm 990, Part VII, Line 1a, lists the 12 Governing Committee member companies with voting rights as Institutional Trustees. An employee of the elected member company serves on the Governing Committee.Since these Governing Committee members are employees of various insurance companies, we cannot determine the average hours per week devoted to this responsibility.There was no compensation, contribution to a benefit plan, expense allowance paid to these Governing Committee members of the North Carolina Rate Bureau.
Client Note 3	Client Note 3 - Supplemental Information to Form 990North Carolina Rate Bureau, EIN 56-1179542Form 990, Schedule J, Part II, Columns B(iii) & Column D, Officers, Directors, Trustees, Key Employees and Highest Compensated EmployeesThe employees listed in Part II of Schedule J are eligible and are participating in the organization's health and benefit programs including, medical, dental, vision, as well as basic life and accidental death and dismemberment coverage. The costs of these benefits for these employees are included in Line 9 (Other employee benefits) in Part IX, Statement of Functional Expenses, on Form 990.Also, employees listed in part II of Schedule J are eligible and are participating in the organization's defined benefit plan; contributions to the plan are vested in 5 years. Actuarial estimates for the defined benefit plan are determined by employees' salary history, years of service, and anticipated retirement age. The specific costs associated with the employees listed in Form 990, Schedule J, Part II are not easily segregated and are included in Line 8 (Pension plan contributions) in Part IX, Statement of Functional Expenses, on Form 990.There were no deferred compensation agreements for any of the employees of the North Carolina Rate Bureau.No current year compensation for the employees listed in part II of Schedule J was reported in a prior year Form 990.
Client Note 4	Client Note 4 - Supplemental Information to Form 990North Carolina Rate Bureau, EIN 56-1179542Form 990, Part VII, Section B, Line 1, Independent ContractorsThe expenses of 3 North Carolina organizations created by North Carolina state statute Chapter 58 (the North Carolina Rate Bureau created by Article 36, the North Carolina Reinsurance Facility created by Article 37, and the North Carolina Insurance Guaranty Association created by Article 48) are managed and paid by the 3 organization's shared North Carolina Rate Bureau accounting department. Each organization is a separate, unrelated entity guided by separate state statutes and governing documents and each organization maintains separate general ledger accounts and financial statements. At the end of each month, a report is generated that details the total expenses that were paid by the North Carolina Rate Bureau on behalf of the North Carolina Reinsurance Facility and Guaranty Association by the North Carolina Rate Bureau checking accounts; these amounts are then reimbursed to the North Carolina Rate Bureau from the North Carolina Reinsurance Facility and Guaranty Association's checking accounts.The annual Form 1099-MISC for the North Carolina Rate Bureau will reflect the total amounts paid to an independent contractor for all of the organizations listed in the above paragraph; these are the amounts that are reflected on Form 990, Section B, Line 1 for each listed contractor. The amounts reflected on Form 990, Part IX correspond to the net expense attributable only to the North Carolina Rate Bureau.
Client Note 5	Client Note 5 - Supplemental Information to Form 990North Carolina Rate Bureau, EIN 56-1179542Form 990, Part XII, Line 2c, Committe responsibility for oversight of audit, review and selection of an independent accountantThe audit financials are drafted by the management of the North Carolina Rate Bureau and are audited by the Bureau's independent audit firm. Once the audit report has been generated, it is distributed to the Bureau's Governing Committee for review.
Client Note 6	Client Note 6 - Supplemental Information to Form 990North Carolina Rate Bureau, EIN 56-1179542Continuation of: Supplemental Information to Form 990 Part III, Line 4c - Program Service AccomplishmentsWorkers Compensation1.Circular C-14-1, dated January 8, 2014 reminded member companies of the Assigned Risk Take-Out Credit program which is designed to facilitate the depopulation of the residual market. Each year the North Carolina Rate Bureau identifies a list of policies currently written in the residual market that are eligible for participation in this program. By enrolling in the program a member company will receive this list of eligible policies and will receive a credit to their written premium (reflecting the amount of the premium removed from the residual market) use to calculate their share of the Pool Participation Base.2.Circular C-14-2, dated February 21, 2014 advised member companies of changes to the Workers Comp Stat Plan Manual. Insurance companies writing workers compensation in North Carolina are required to comply with the WC Stat Plan Manual when filing unit statistical reports. This circular provided a side-by-side comparison of the new manual to the old manual to clarify and highlight the changes.3.Circular C-14-3, dated March 21, 2014 announced to member companies that the CDX PEEP product would not be discontinued as of December 31, 2014 as previously announced. Significant numbers of response from carrier users encouraged CDX to continue the product.4.Circular C-14-4, dated April 29, 2014 announced the creation of a new program entitled: Data Timeliness and Quality Program as approved by the North Carolina Rate Bureau Governing Committee. The purpose of this program is to levy fines to carriers who submit data that fails data quality tests or is received late. The submittal of inaccurate or late data causes difficulties for all carriers writing Workers Compensation in North Carolina so accurate and timely data is essential. The data in question is used for several purposes, including:a.To establish future expectations of the Unit Statistical Plan,b.To determine the carrier recipients for the Experience Rating Mod,c.To assist in the administration of the Workers Comp Insurance Plan, andd.Select data is provided to the North Carolina Industrial Commission.5.Circular C-14-5, dated May 9, 2014 notified the member companies of the creation of the Workers Compensation Carrier Data Quality Report (CDQR) web application for workers compensation data reporters. The CDQR web application provides member companies with useful information regarding the quality and timeliness of data submitted to the Bureau during a selected data year. The CDQR web application analyzes Member Company reporting performance in the categories of policy, unit statistical and compliance/noncompliance transaction reporting. CDQR contains information for the two previous years. Information on interpretation and use of the data was included in the circular.6.Circular C-14-6, dated May 20, 2014 announced a revision to the Basic Manual Deductible rule. The rule was changed to be consistent with current practices. A clean copy and a track changes copy of the rule was included in the circular to aid in the use of the rule.7.Circular C-14-7, dated June 24, 2014 announced several rule changes, providing explanations as appropriated. The following manuals and plans were revised.a.The Workers Compensation Basic Manual,b.The Experience Rating Plan Manual,c.The Retrospective Rating Plan Manual,d.The North Carolina Statistical Plan, ande.Select forms and endorsements.8.Circular C-14-8, dated July 1, 2014 announced modifications to the Basic Manual Classifications for Sheet Metal / Scrap Metal Dealers and provided NCCI B-1427 as a reference.9.Circular C-14-9, dated September 2, 2014 announced modifications to the Basic Manual Classifications for Trucking, Storage, Warehouse, and Warehousing operations. Specifically this circular provides a clarification for the classification of Switcher operations.10.Circular C-14-10, dated September 4, 2014 announced a delay in the filing of the annual Workers Compensation Loss Cost and Assigned Risk Rate filings. The delay was to allow time to incorporate recently approved Senate Bill 744, which has a provision limiting workers compensation reimbursement for prescription drugs. The circular indicate the filing was expected to be made on or before September 30, 2014.11.Circular C-14-11, dated September 17, 2014 announced more details about the Data Timeliness and Quality Program first introduced in circular C-14-4. Included in the announced were details about the fining program for not meeting the programs standards and deadlines as well as the announcement of several webinars offered in October designed to review the program details and provide an opportunity for questions and comments.12.Circular C-14-12, dated September 23, 2014 announced the submittal of the Workers Compensation Loss Cost filing to the Department of Insurance with a proposed effective date of April 1, 2015. Summary details of the filing were provided as well as a reminder that the complete filing was available on the Rate Bureau website.13.Circular C-14-13, dated September 23, 2014, announced the submittal of the Workers Compensation Residual Market rate filing to the Department of Insurance with a proposed effective date of April 1, 2015. Summary details of the filing were provided as well as a reminder that the complete filing was available on the Rate Bureau website.14.Circular C-14-14, dated October 11, 2014 announced the approval of the Workers Compensation Loss Cost filing with an effective date of April 1, 2015. A more detailed summary was included in this circular as well as a list of the loss costs by classification code. It was also announced that a copy of the loss costs could be found on the Rate Bureau website.15.Circular C-14-15, dated October 11, 2014 announced the approval of the Workers Compensation Residual Market rate filing with an effective date of April 1, 2015. A more detailed summary was included in this circular as well as a list of the residual market rates by classification code. It was also announced that a copy of the residual market rates could be found on the Rate Bureau website.16.Circular C-14-16, dated December 10, 2014 announced the introduction of the new interactive North Carolina Workers Compensation Statistical Plan Manual-Digital Edition. The digital edition of the Statistical Plan Manual is an enhanced database-driven framework. The library is intended to allow for faster and easier access to the content contained in the Statistical Plan Manual. Details were provided to access the digital edition. The conversion to a database-driven web application is intended to provide enhanced benefits such as:a.Easier navigation,b.The ability to highlight text,c.Links provided between Bureau circulars and the North Carolina Workers Compensation Statistical Plan Manual,d.An interactive table of contents and index, ande.Access to historical information.
Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder	Every insurance carrier that is is authorized to write Automobile Insurance, Property Insurance or Workers Compensation Insurance in the State of North Carolina is required to become a Member of the Bureau as required by the provisions of Article 36 of Chapter 58 of the General Statutes of North Carolina.Each Member must pay an annual membership fee for each category of insurance for which it is licensed to write in North Carolina. Each member must also annually or when requested, provide statistical data related writing Automobile, Property, or Workers Compensation Insurance.
Form 990, Part VI, Line 7a: How Members or Shareholders Elect Governing Body	Member companies of the North Carolina Rate Bureau elect 12 voting members to the Governing Committee. (There are also 2 non-voting Governing Committee members that are appointed by the North Carolina Governor that are not employed or associated with any insurance company or the North Carolina Department of Insurance.) Governing Committee members serve for three-year terms; the terms cannot be served consecutively. The Governing Committee, elected by the North Carolina Rate Bureau members, handle administration, supervision, and direction of all committees. The Governing Committee also appoints a General Manager, who under the supervision of the Governing Committee has general control of the Bureau's activities and associates.
Form 990, Part VI, Line 7b: Describe Decisions of Governing Body Approval by Members or Shareholders	One of the purposes of the North Carolina Rate Bureau is the "establishment and administration of classifications, rules, rates, loss costs, rating plans, policy forms and policy provisions for the Automobile Insurance, Property Insurance and Workers Compensations Insurance pursuant to Article 36 of Chapter 58 of the General Statutes of North Carolina" (excerpt from North Carolina Rate Bureau Constitution). In order to fulfill this purpose, the North Carolina Rate Bureau files proposed changes on behalf of the Bureau's member companies to North Carolina Commissioner of Insurance. The North Carolina Rate Bureau's proposed filings are subject to the Commissioner of Insurance's approval. If the Commissioner of Insurance disapproves a filing, the Governing Committte has the ability to follow the appropriate appeals process within the State of North Carolina.In general, the North Carolina Rate Bureau's Governing Committe is authorized and does make operating decisions on behalf of the member companies. However, in some rare instances, high level document changes do require a 3/4 majority vote from the Bureau's member companies.
Form 990, Part VI, Line 11b: Form 990 Review Process	The annual Form 990 is prepared internally by the organization's Accounting Manager using tax preparation software. The completed return, including schedules and other necessary supporting information, is then forwarded to the organization's Director of Finance for review and approval. After the review and approval, the completed return is filed electronically to the Internal Revenue Service. The governing committee is notified when the return has been filed but does not receive a copy unless specifically requested by one of the member companies serving on the committee.
Form 990, Part VI, Line 12c: Explanation of Monitoring and Enforcement of Conflicts	Each new employee receives an organizational handbook that outlines the requirement of all employees to devote their full time to employment with the North Carolina Rate Bureau. If an employee is engaged in outside work or holds another job, the handbook specifically states that the other business cannot interfere with satisfactory job performance and attendance at the Bureau. Further, the Bureau requires that all employees fully disclose any possible conflict of interest such as outside employment to their supervisor or manager in order to prevent a compromising situation.Conflict of interest is also regularly reviewed at each North Carolina Rate Bureau Governing Committee meeting as well as every Bureau committee or sub-committee meeting. The North Carolina Rate Bureau's conflict of interest statement is included in the agenda and is referenced in every every governing committee, committee, and sub-committee meeting as a reminder to the governing committee and employees of their responsibilities. Per policy, members are not to vote, take action or use his or her personal influence on a matter that represents a personal conflict of interest.
Form 990, Part VI, Line 15b: Compensation Review and Approval Process for Officers and Key Employees	Compensation data is obtained through WorldAtWork, Mercer, and Aon Hewitt Associates salary surveys. Independent consultants have been utilized in the past to prepare guidelines and ranges for General Manager's and top management compensation, as well as conducting a full compensation audit.This data is presented to a Joint Compensation Sub-committee, consisting of 3 member companies, during the 4th quarter of the year. After a review, the Joint Compensation sub-committe will recommend ranges for salary increases, merit increases for the following year. These recommendations are presented to the organization's governing body for approval, normally during the last month of the calendar year along with a comprehensive budget presentation.
Form 990, Part VI, Line 19: Other Organization Documents Publicly Available	Since the North Carolina Rate Bureau was created by state statute, its organizational governing documents are public record. The conflict of interest statements are disclosed as agenda items and minutes in each governing committee, committee, and sub-committee meeting the of the Bureau.The financials of the organizations are made available to the public in these two manners:1) The annual filing of the organization's Form 990, Return of Organization Exempt from Income Tax, and 2) The appointment of two non-voting public members who are not employed or affiliated with any insurance company or the Department of Insurance to the Governing Committee by the North Carolina Commissioner of Insurance. The audited financial statements are presented to these members along with the rest of the Governing Committee on an annual basis.
Other Changes In Net Assets Or Fund Balances - Other Decreases	Reapportionment to Member Companies of 2012 Assmts & Expense = -$868584
Other Changes In Net Assets Or Fund Balances - Other Decreases	Write off o/s Assmts/Mbrshps/Misc Fees/Refund to Carriers = -$21750

For Paperwork Reduction Act Notice, see the Instructions for Form 990 or 990-EZ.

Cat. No. 51056K

Schedule O (Form 990 or 990-EZ) 2014

Additional Data

Software ID:	14000265
Software Version:	2014v5.0

1	Briefly describe the organization’s mission or most significant activities: The Bureau was established under Article 36, Chapter 58, N.C. General Statutes. The purpose of the North Carolina Rate Bureau is to administer Property and Casualty Rates for the insurance industry in North Carolina. The Bureau maintains rules and regulations and establishes premium rates for motor vehicle, workers' compensation and property insurance. The Bureau also ensures the availability of workers' compensation insurance to any eligible risk in North Carolina by assigning the risks to members on an equitable basis All expenses are related to those functions. The N. C. Rate Bureau receives no grants and all expenses are borne by its member insurance companies in proportion to written premiums.
2	Check this box
3	Number of voting members of the governing body (Part VI, line 1a) ........	3	12
4	Number of independent voting members of the governing body (Part VI, line 1b) .....	4	12
5	Total number of individuals employed in calendar year 2014 (Part V, line 2a) ......	5	69
6	Total number of volunteers (estimate if necessary) .............	6
7a	Total unrelated business revenue from Part VIII, column (C), line 12 ........	7a	0
b	Net unrelated business taxable income from Form 990-T, line 34 .........	7b

		Prior Year	Current Year
8	Contributions and grants (Part VIII, line 1h) .........		0
9	Program service revenue (Part VIII, line 2g) .........	14,455,515	14,438,036
10	Investment income (Part VIII, column (A), lines 3, 4, and 7d ) ....	248	245
11	Other revenue (Part VIII, column (A), lines 5, 6d, 8c, 9c, 10c, and 11e)	890	0
12	Total revenue—add lines 8 through 11 (must equal Part VIII, column (A), line 12)...................	14,456,653	14,438,281
13	Grants and similar amounts paid (Part IX, column (A), lines 1–3 )...		0
14	Benefits paid to or for members (Part IX, column (A), line 4).....		0
15	Salaries, other compensation, employee benefits (Part IX, column (A), lines 5–10)	4,900,645	5,195,072
16a	Professional fundraising fees (Part IX, column (A), line 11e).....		0
b	Total fundraising expenses (Part IX, column (D), line 25) 0
17	Other expenses (Part IX, column (A), lines 11a–11d, 11f–24e)....	9,138,266	9,132,908
18	Total expenses. Add lines 13–17 (must equal Part IX, column (A), line 25)	14,038,911	14,327,980
19	Revenue less expenses. Subtract line 18 from line 12.......	417,742	110,301
		Beginning of Current Year	End of Year
20	Total assets (Part X, line 16).............	2,331,128	1,628,012
21	Total liabilities (Part X, line 26).............	990,248	1,067,165
22	Net assets or fund balances. Subtract line 21 from line 20.....	1,340,880	560,847

Sign Here

	Signature of officer	Date

	Type or print name and title


4a	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )
	Workers' Compensation Assigned Risk PlanThe Bureau assures the availability of workers' compensation insurance to any eligible risk in North Carolina by assigning the risks to members on an equitable basis. The Bureau receives premium payments which are deposited and then immediately disbursed to an assigned member company. Since the Bureau acts only as a pass-through for these premiums, these premiums are not recorded on any statement of cash receipts and disbursements.In 2014 the Bureau collected and disbursed premiums of 35,359,745 and $35,314,450, respectively, related to the workers' compensation assigned risk plan.

4b	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )
	Statutory Annual Data Reporting Requirement for Member Companies Per Article 36 of Chapter 58 of the General Statutes of North Carolina requirements, the North Carolina Rate Bureau must collect on an annual basis information and reports from its member companies. This annual data is used to prepare rate filings, apportionment of expenses, and determination of expense allowances and assessments. The reports that must be collected include Property and Casualty annual Statements and Insurance Expense Exhibits, as well as Private Passenger Automobile, Homeowners, Dwelling and Mobile Homeowners Expense Experience and installment payment data. The Governing Committee approved a penalty fee of $100/day for the late submission of this annual data. During 2014, $14,100 was collected from companies submitting late data.

4c	(Code: ) (Expenses $ including grants of $ ) (Revenue $ )
	One of the purposes of the North Carolina Rate Bureau is the establishment and administration of classifications, rules, rates, loss costs, rating plans, policy forms and policy provisions for the Automobile Insurance, Property Insurance and Workers Compensations Insurance pursuant to Article 36 of Chapter 58 of the General Statutes of North Carolina (excerpt from North Carolina Rate Bureau Constitution). In order to fulfill this purpose, the North Carolina Rate Bureau files proposed changes on behalf of the Bureaus member companies to North Carolina Commissioner of Insurance. Below is a listing of some of the Bureau's program service accomplishments: General1.Each year the North Carolina Rate Bureau conducts a data call to collect information from the statutory Property and Casualty Annual Statement and Insurance Expense Exhibits. However, the Rate Bureau also collects Automobile, Homeowners, Mobile Homeowners and Dwelling Expense Experience and Installment Premium Payment Charge data through a special data call. This data is used for the preparation of rate filings, apportionment of expenses and assessments. To assist the member companies to comply with the date call requirements, the circular included:a.The Call Reporting Schedule,b.The Financial Call Contact Form,c.The IDC Reporting Guidebook,d.Information about the Industry Data Collection (IDC) web application which is required to be used to respond to all data calls, ande.Deadlines for each data call.f.to submit the various data callsAutomobile1.Circular A-14-2, dated April 4, 2014, announced a revision to the physical damage base rates as a result of a shift in the model year base rate from 2012 to 2014. The shift in model year also necessitated a revision to the model year and symbol relativities. The change became effective on October 1, 2014.Property1.Circular P-14-1, dated January 10, 2014 reminded all member companies of the mandatory effective date of compliance with revisions to the Homeowners Enhancement (HE) Policy Program. These revisions were applicable to all new and renewal policies effective on an optional basis August 30, 2013; however, the revisions are effective on a mandatory basis for new and renewal policies effective on or after April 1, 2014.2.Circular P-14-2, dated January 15, 2014 provided additional clarification to previously announced revisions to the Fire Suppression Rating Schedule (FSRS) and the Insurance Services Office (ISO) Community Mitigation Classifications (CMC) Manual which include a new protection classification 8B. In order to maintain a single comprehensive source of Public Protection Classification information for Dwelling risks and as a result of the recent addition of protection class 8B, Rule 104. deletes detailed information related to public protection classification information and instead adds an instruction to refer to the public protection classification information in the ISO Community Mitigation Classifications (CMC) Manual. As part of this clarification several rules were revised in the Dwelling Manual to introduce Protection Classification 8B.3.Circular P-14-4, dated February 17, 2014 announced the introduction of an additional Inflation Cost Index to be used with both the Homeowners and Dwelling Policy Programs in North Carolina. The circular included a revised copay of the Optional Inflation Guard Index rules for both the Homeowners and the Dwelling programs.4.Circular P-14-5, dated May 1, 2014 announced revisions to the rules relating to Ordinance or Law Coverage designed for use in North Carolina with the Homeowners Policy Program. The circular also identified the rules impacted: Rule 303, Ordinance Or Law Coverage was revised and Rule 513, Ordinance Or Law Coverage Increased Amount of Coverage was introduced.5.Circular P-14-6, dated August 13, 2014 advised member companies that the North Carolina Rate Bureau had filed revised Homeowners territory definitions with the North Carolina Department of Insurance. Although the filing was not yet approved the Rate Bureau had responded to all objections voiced by the Department regarding the revised Homeowner territory definitions. Since it is the Rate Bureaus understanding that the programming of territory definition revisions requires more lead time than does the programming of rate level revisions, member companies of the Rate Bureau were advised to take the necessary steps now to prepare to program these revisions. Although the effective date of implementation is unknown the Rate Bureau announced its belief that the effective date would likely be in the spring of 2015. The purpose of this circular is to provide member companies with advance notice of the revised territory definitions. By programming the necessary territory definition revisions in advance, the amount of time to implement any rate level revisions will be shortened.6.Circular P-14-7, dated October 13, 2014 reminded member companies that previously approved base rates and wind exclusion credits for the Dwelling program were to be implemented with an effective date of April 1, 2015.7.Circular P-14-8 was a follow up circular to P-14-6. This circular advised member companies that the Homeowners territory definitions had been approved with an effective date of June 1, 2015 to allow the member companies the extra time needed to implement the territory definitions. It also pointed out that the territory base rates had not been approved.NOTE: Due to limited space, see Federal Supplemental Information Statement for a continuation of the Bureau's program service accomplishments.

4d	Other program services (Describe in Schedule O.)
	(Expenses $ including grants of $ ) (Revenue $ )
4e	Total program service expenses

1b	Sub-Total................
c	Total from continuation sheets to Part VII, Section A....
d	Total (add lines 1b and 1c)............	1,263,610

(A) Name and Title	(B) Average hours per week (list any hours for related organizations below dotted line)		(D) Reportable compensation from the organization (W- 2/1099-MISC)	(E) Reportable compensation from related organizations (W- 2/1099-MISC)	(F) Estimated amount of other compensation from the organization and related organizations
(A) Name and Title
(18) Frank Lonnett........................................................................ Mgr, IT Services	37.50 .......................0.00	X	121,333	0	0
(19) Adrienne Bizzell........................................................................ Mgr, IT Projects	37.50 .......................0.00	X	121,767	0	0
(20) Paula Stana........................................................................ Mgr, IT Projects	37.50 .......................0.00	X	127,097	0	0

				(A) Total revenue	(B) Related or exempt function revenue	(C) Unrelated business revenue	(D) Revenue excluded from tax under sections 512-514
1a	Federated campaigns..1a
b	Membership dues....1b
c	Fundraising events....1c
d	Related organizations...1d
e	Government grants (contributions)1e

f	All other contributions, gifts, grants, and similar amounts not included above1f

g	Noncash contributions included in lines 1a-1f:$
h	Total. Add lines 1a-1f.......			0
			Business Code
2a	Memberhip Dues & Assmts		524298	14,438,036	14,438,036
b
c
d
e
f	All other program service revenue .
g	Total. Add lines 2a–2f........			14,438,036
3	Investment income (including dividends, interest, and other similar amounts).......			245	245
4	Income from investment of tax-exempt bond proceeds..			0
5	Royalties...........			0
		(i) Real	(ii) Personal
6a	Gross rents
b	Less: rental expenses
c	Rental income or (loss)
d	Net rental income or (loss).......			0
		(i) Securities	(ii) Other
7a	Gross amount from sales of assets other than inventory
b	Less: cost or other basis and sales expenses
c	Gain or (loss)
d	Net gain or (loss)..........			0
8a	Gross income from fundraising events (not including $ of contributions reported on line 1c). See Part IV, line 18 ..
	a
b	Less: direct expenses ...b
c	Net income or (loss) from fundraising events..			0
9a	Gross income from gaming activities. See Part IV, line 19 ...
	a
b	Less: direct expenses ...b
c	Net income or (loss) from gaming activities...			0
10a	Gross sales of inventory, less returns and allowances .
	a
b	Less: cost of goods sold ..b
c	Net income or (loss) from sales of inventory..			0
Miscellaneous Revenue			Business Code
11a	Miscellaneous (Schedule)		524298
b
c
d	All other revenue ....
e	Total. Add lines 11a–11d ......			0
12	Total revenue. See Instructions......			14,438,281	14,438,281

Do not include amounts reported on lines 6b, 7b, 8b, 9b, and 10b of Part VIII.		(A) Total expenses	(B) Program service expenses	(C) Management and general expenses	(D) Fundraising expenses
1	Grants and other assistance to domestic organizations and domestic governments. See Part IV, line 21 ....	0
2	Grants and other assistance to domestic individuals. See Part IV, line 22 ....	0
3	Grants and other assistance to foreign organizations, foreign governments, and foreign individuals. See Part IV, lines 15 and 16 ............	0
4	Benefits paid to or for members ....	0
5	Compensation of current officers, directors, trustees, and key employees ....	594,816
6	Compensation not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B) ....	0
7	Other salaries and wages ....	2,663,940
8	Pension plan accruals and contributions (include section 401(k) and 403(b) employer contributions) ....	644,441
9	Other employee benefits .......	928,032
10	Payroll taxes ...........	363,843
11	Fees for services (non-employees):
a	Management ......	0
b	Legal .........	1,432,895
c	Accounting ...........	25,000
d	Lobbying ...........	0
e	Professional fundraising services. See Part IV, line 17	0
f	Investment management fees ......	0
g	Other (If line 11g amount exceeds 10% of line 25, column (A) amount, list line 11g expenses on Schedule O) ....	6,667,431
12	Advertising and promotion ....	2,104
13	Office expenses .......	148,503
14	Information technology ......	384,733
15	Royalties ..	0
16	Occupancy ...........	302,537
17	Travel ............	41,189
18	Payments of travel or entertainment expenses for any federal, state, or local public officials ......	0
19	Conferences, conventions, and meetings ....	0
20	Interest ...........	0
21	Payments to affiliates .......	0
22	Depreciation, depletion, and amortization .....	0
23	Insurance ..............	33,297
24	Other expenses. Itemize expenses not covered above (List miscellaneous expenses in line 24e. If line 24e amount exceeds 10% of line 25, column (A) amount, list line 24e expenses on Schedule O.)
a	Subscriptions/Memberships	49,514
b	Luncheons	41,813
c	Taxes	3,892
d
e	All other expenses	0
25	Total functional expenses. Add lines 1 through 24e	14,327,980	0	0	0
26	Joint costs. Complete this line only if the organization reported in column (B) joint costs from a combined educational campaign and fundraising solicitation. Check here if following SOP 98-2 (ASC 958-720).


			(A) Beginning of year		(B) End of year
1	Cash–non-interest-bearing .............			1	0
2	Savings and temporary cash investments .........		1,824,379	2	1,053,741
3	Pledges and grants receivable, net ...........			3	0
4	Accounts receivable, net .............		52,170	4	39,852
5	Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees. Complete Part II of Schedule L ..................
				5	0
6	Loans and other receivables from other disqualified persons (as defined under section 4958(f)(1)), persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations (see instructions) Complete Part II of Schedule L
				6	0
7	Notes and loans receivable, net .............			7	0
8	Inventories for sale or use ..............			8	0
9	Prepaid expenses and deferred charges ..........			9	0
10a	Land, buildings, and equipment: cost or other basis. Complete Part VI of Schedule D	10a
b	Less: accumulated depreciation .....	10b		10c	0
11	Investments—publicly traded securities ..........			11	0
12	Investments—other securities. See Part IV, line 11 .....			12	0
13	Investments—program-related. See Part IV, line 11 .....			13	0
14	Intangible assets ...............			14	0
15	Other assets. See Part IV, line 11 ...........		454,579	15	534,419
16	Total assets. Add lines 1 through 15 (must equal line 34)......		2,331,128	16	1,628,012
17	Accounts payable and accrued expenses .........		-17,416	17	-17,312
18	Grants payable .................			18
19	Deferred revenue ................			19
20	Tax-exempt bond liabilities .............			20
21	Escrow or custodial account liability. Complete Part IV of Schedule D..			21
22	Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified
	persons. Complete Part II of Schedule L..........			22
23	Secured mortgages and notes payable to unrelated third parties ..			23
24	Unsecured notes and loans payable to unrelated third parties ....			24
25	Other liabilities (including federal income tax, payables to related third parties, and other liabilities not included on lines 17-24). Complete Part X of Schedule D....................		1,007,664	25	1,084,477
26	Total liabilities. Add lines 17 through 25.........		990,248	26	1,067,165
	Organizations that follow SFAS 117 (ASC 958), check here and complete lines 27 through 29, and lines 33 and 34.
27	Unrestricted net assets ..............			27
28	Temporarily restricted net assets ...........			28
29	Permanently restricted net assets ...........			29
	Organizations that do not follow SFAS 117 (ASC 958), check here and complete lines 30 through 34.
30	Capital stock or trust principal, or current funds ........			30
31	Paid-in or capital surplus, or land, building or equipment fund .....			31
32	Retained earnings, endowment, accumulated income, or other funds		1,340,880	32	560,847
33	Total net assets or fund balances ...........		1,340,880	33	560,847
34	Total liabilities and net assets/fund balances ........		2,331,128	34	1,628,012