Practising Law Institute

“990 review process The Practising Law Institute's Form 990 was prepared by a nationally renowned accounting firm in conjunction with the organization's financial department. A copy of the draft Form 990 was circulated to the Board of Trustees after review by senior management and the audit committee. Each Board Member was provided ample opportunity to comment on the information contained in the 990 prior to its electronic filing with the Internal Revenue Service.”

“conflict of interest policy monitoring & enforcement Each DIRECTOR/TRUSTEE of the Practising Law Institute is required to annually disclose any conflicts of interest that arise by virtue of employment, board service, or position with the organization. Practising Law Institute monitors compliance with its conflict of interest policy through an annual questionnaire/disclosure statement that is distributed to these individuals. Potential conflicts are investigated immediately.”

“process for determining compensation Practising Law Institute undertakes a thorough process to ensure that the executive compensation it pays to its top management official and all of the officers and key employees of the organization is reasonable given the market in which it operates. In relevant part, the Board of trustees has established a Compensation Committee of independent persons that have no personal interest in the proposed compensation agreement. The compensation committee utilized benchmarking data, surveys, and other reports to derive the President's salary. The President has no decision-making authority with respect to THEIR own compensation arrangement. The Executive Committee of the Board of Trustees, based on the recommendations from the PLI Compensation Committee, who reviews comparability data, will approve annual raises for all officers and key employees in addition to a range of salary increases for all other employees. Employees are eligible for merit increases based on performance evaluations, which are summarized and submitted to the PLI President and then reviewed by the PLI Compensation Committee.”

“availability of documents to the public The Institute makes its Form 990 available to the public by retaining a copy at its place of business. The Institute's financial statements are available on their website. The governing documents and conflict of interest policy are not ordinarily made available to the public, however, if requested, they will be provided at Institute's discretion.”

“President Emeritus Explanation Victor Rubino served as President from January 1, 1983, until April 15, 2015. Subsequent to his tenure as President, PLI has retained him to provide full-time services to consult on programmatic and managerial matters for the organization. His compensation for his new role was reviewed and approved by the Chair of the Executive Committee and the Chair of the Board of Trustees.”

“Volunteer Volunteer instructional services are provided by attorneys and others in the legal profession. The value of the volunteer services has not been reflected in the financial statements as the nature of these services does not meet the criteria for recognition of contributed services under generally accepted accounting principles in the United States of America.”

“other changes in net assets Pension Related Expenses $ 704,243”