Practising Law Institute
- Assets
- $169.4m
- Revenue
- $109.2m
- Investments
- $64.8m
- Employees
- 324
- Location
- New York, NY
- Founding
- 01/1940
- Data as of
- 12/2021
- EIN
- 13-5562321
Organization Overview
Practising Law Institute is located in New York, NY. The organization was established in 1940. According to its NTEE Classification (B60) the organization is classified as: Adult Education, under the broad grouping of Education and related organizations. As of 12/2021, Practising Law Institute employed 324 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Practising Law Institute is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Practising Law Institute generated $109.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.7% each year. All expenses for the organization totaled $94.3m during the year ending 12/2021. While expenses have increased by 1.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
PRACTISING LAW INSTITUTE (THE "INSTITUTE") PROVIDES THE LEGAL COMMUNITY WITH CONTINUING PROFESSIONAL EDUCATION THROUGH LECTURE PROGRAMS, PUBLICATIONS AND EDUCATIONAL SOFTWARE.
Describe the Organization's Program Activity:
PROGRAMS: IN 2021, THE INSTITUTE PROVIDED LIVE SEMINARS, LIVE WEBCASTS, ON-DEMAND SEMINARS, AND AUDIO AND VIDEO DOWNLOADS. APPROXIMATELY 807,936 CLE AND CPE CERTIFICATES WERE PROCESSED FOR THESE PROGRAMS.
PUBLISHING SERVICES SUPPLEMENT THE SEMINARS OFFERED BY THE INSTITUTE TO PROVIDE THE MOST UP-TO-DATE, RELEVANT INFORMATION AND RESOURCE MATERIALS. ANNUALLY THE INSTITUTE PROVIDES COURSE HANDBOOKS, TREATISES, AND SUPPLEMENTS WHICH ARE IMPORTANT IN PROVIDING LEGAL COMMUNITY AND ALLIED PROFESSIONALS WITH THE TOOLS TO STAY ABREAST OF NEW LEGAL DEVELOPMENTS. IN 2021, THERE WERE 265 COURSE HANDBOOKS, 35 TREATISES AND ANSWER BOOKS, AND 87 TREATISES SUPPLEMENTS RELEASES ISSUED. 139 TREATISES WERE AVAILABLE FOR DOWNLOAD ON THE KINDLE DIGITAL READER. OTHER REVENUE INCLUDES PLI PLUS (AN ONLINE DATABASE).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Craig A Miller Sr Vp, Membership & Accreditation | Officer | 40 | $516,306 |
Christopher Rousseau Chief Information Officer | Officer | 40 | $422,403 |
George M Wilson Director, Sec Institute | 40 | $352,743 | |
Alan G Cohen Chief Bus. Officer | Officer | 40 | $348,836 |
David M Smith VP Marketing & Communications | Officer | 40 | $328,586 |
James Scafidi Global Dir., Memb. Sales & A/c Svcs. | 40 | $325,099 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Salesforcecom Inc Software Licenses | 12/30/21 | $1,459,555 |
Breaking Media Inc Advertising/promotions | 12/30/21 | $575,745 |
Innodata Isogen Xml Conversion | 12/30/21 | $572,963 |
Gasch Printing Llc Printer | 12/30/21 | $787,846 |
Saralux Consulting | 12/30/21 | $802,260 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $4,795 |
| Noncash contributions included in lines 1a–1f | $4,795 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,795 |
| Total Program Service Revenue | $93,828,918 |
| Investment income | $1,657,601 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,912,948 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $1,769,222 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $109,173,484 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $25,002,053 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,357,502 |
| Compensation of current officers, directors, key employees. | $1,231,734 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $29,459,920 |
| Pension plan accruals and contributions | $2,467,231 |
| Other employee benefits | $5,360,566 |
| Payroll taxes | $2,192,053 |
| Fees for services: Management | $1,404,598 |
| Fees for services: Legal | $127,243 |
| Fees for services: Accounting | $350,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $649,581 |
| Fees for services: Other | $234,365 |
| Advertising and promotion | $1,766,219 |
| Office expenses | $895,089 |
| Information technology | $5,195,064 |
| Royalties | $721,964 |
| Occupancy | $5,657,550 |
| Travel | $274,796 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,565,354 |
| Interest | $259,373 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,293,880 |
| Insurance | $448,329 |
| All other expenses | $109,805 |
| Total functional expenses | $94,288,607 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $19,138,965 |
| Savings and temporary cash investments | $4,995,001 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,737,859 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $390,999 |
| Prepaid expenses and deferred charges | $1,961,877 |
| Net Land, buildings, and equipment | $18,959,274 |
| Investments—publicly traded securities | $52,204,013 |
| Investments—other securities | $64,791,217 |
| Investments—program-related | $0 |
| Intangible assets | $907,100 |
| Other assets | $4,351,273 |
| Total assets | $169,437,578 |
| Accounts payable and accrued expenses | $8,821,600 |
| Grants payable | $0 |
| Deferred revenue | $31,870,132 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $10,500,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $26,437,254 |
| Total liabilities | $77,628,986 |
| Net assets without donor restrictions | $91,808,592 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $169,437,578 |
Grants Awarded
Over the last fiscal year, Practising Law Institute has awarded $111,909 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
New York, NY PURPOSE: Providing support | $40,000 |
New York, NY PURPOSE: Providing support | $38,846 |
White Plains, NY PURPOSE: Providing support | $33,063 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Practising Law Institute New York, NY | $169,437,578 | $109,173,484 |
Bellwether Education Partners Inc Sudbury, MA | $12,819,060 | $18,147,451 |
Workforce Development Institute Inc Albany, NY | $2,796,326 | $10,204,057 |
Vhs Inc Maynard, MA | $2,159,485 | $7,029,751 |
United For Respect Education Fund Brooklyn, NY | $7,552,270 | $7,410,651 |
1st Street Foundation Inc Brooklyn, NY | $4,623,074 | $8,726,760 |
More Than Words Inc Boston, MA | $15,091,779 | $6,459,719 |
Local Union 164 Electrical Joint Apprenticeship And Training Trust Paramus, NJ | $19,017,559 | $4,299,279 |
Leading Edge Alliance Inc New York, NY | $10,397,327 | $8,264,467 |
Vermont Adult Learning Inc Waitsfield, VT | $1,289,780 | $4,391,996 |
Connecticut Center For Arts & Technology Inc New Haven, CT | $3,075,426 | $11,576,748 |
Chronic Liver Disease Foundation Inc Clark, NJ | $1,027,147 | $3,658,520 |