Property Loss Research Bureau
- Assets
- $29.3m
- Revenue
- $8.3m
- Investments
- $0.0
- Employees
- 44
- Location
- Downers Grove, IL
- Founding
- 12/1976
- Data as of
- 12/2021
- EIN
- 36-1516660
Organization Overview
Property Loss Research Bureau, operating under the name Dba Property And Liability Resource Bureau, is located in Downers Grove, IL. The organization was established in 1976. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2021, Dba Property And Liability Resource Bureau employed 44 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Dba Property And Liability Resource Bureau is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Dba Property And Liability Resource Bureau generated $8.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $8.6m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (0.2%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
RESOURCING THE PROPERTY AND CASUALTY INSURANCE INDUSTRY THROUGH CONSULTING AND TRAINING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE BUREAU'S 2021 MEMBERSHIP CENSUS WAS MADE UP AS FOLLOWS: 1180 MEMBER COMPANIES AND 240 AFFILIATE MEMBERS. SERVICES TO THESE MEMBER ORGANIZATIONS INCLUDED EDUCATION AND TRAINING, LEGAL AND CLAIMS RESEARCH SERVICES, AND OTHER SERVICES.
THE MAJOR CONFERENCES HELD IN 2021 WERE THE REGIONAL ADJUSTERS CONFERENCE AND THE LARGE LOSS CONFERENCE. ATTENDENCE FOR EACH CONFERENCE WAS AS FOLLOWS:REGIONAL ADJUSTERS CONFERENCE- 329 (44% MEMBERS, 29% AFFILIATES)LARGE LOSS CONFERENCE - 711 (20% MEMBERS, 22% AFFILIATES)
PLRB PROVIDES AN EVER-GROWING INVENTORY OF CONTINUING EDUCATION ACCREDITED SELF-STUDY MODULES. MATERIALS ARE PREPARED BY STAFF, INDUSTRY VOLUNTEERS, OR ARE EDITED VIDEO-RECORDED PRESENTATIONS BY THE INDUSTRY'S LEADING CLAIMS SERVICE PROVIDERS AT OUR CLAIMS CONFERENCE. THESE MODULES CAN BE ACCESSED FROM ANY WEB ENABLED PC. TEST RESULTS ARE TRACKED BY PLRB, CERTIFICATES OF COMPLETION CAN BE PRINTED OUT BY THE USER, AND PLRB HAS AUTOMATED MUCH OF THE PROCESS BY WHICH THE USER APPLIES FOR AND RECEIVES CONTINUING EDUCATION CREDIT. IN 2021, 24,887 USERS PARTICIPATED IN 92 DIFFERENT MODULES, OF WHICH 12,466 MODULES WERE COMPLETED BY USERS. ALSO IN 2021, PLRB PROVIDED 51 WEBINARS THAT REGISTERED 19,340 LOGINS (97.5% MEMBERS, 1.4% AFFILIATES).
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas Mallin President & CEO | Officer | 36 | $626,865 |
Leonard Murphy VP & General Counsel | Officer | 36 | $305,660 |
Jeffrey Kerensky Executive VP | Officer | 36 | $278,640 |
Paul Dispensa VP Liability Services And Membership | Officer | 36 | $257,271 |
Peter Becker Treasurer & VP Information | Officer | 36 | $235,615 |
Elizabeth Sterne VP Property Legal Services | Officer | 36 | $224,100 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $7,831,646 |
| Investment income | $474,598 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $36,167 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,342,411 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,718,258 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,136,737 |
| Pension plan accruals and contributions | $484,359 |
| Other employee benefits | $468,309 |
| Payroll taxes | $339,705 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $66,076 |
| Advertising and promotion | $0 |
| Office expenses | $18,938 |
| Information technology | $288,316 |
| Royalties | $0 |
| Occupancy | $447,024 |
| Travel | $22,426 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $80,810 |
| Insurance | $58,485 |
| All other expenses | $53,064 |
| Total functional expenses | $8,612,357 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,300,770 |
| Savings and temporary cash investments | $2,303,310 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,243,809 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $652,651 |
| Net Land, buildings, and equipment | $115,728 |
| Investments—publicly traded securities | $14,835,208 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,831,371 |
| Total assets | $29,282,847 |
| Accounts payable and accrued expenses | $291,415 |
| Grants payable | $0 |
| Deferred revenue | $8,580,274 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $1,954,250 |
| Total liabilities | $10,825,939 |
| Net assets without donor restrictions | $18,456,908 |
| 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 | $29,282,847 |
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