Product Liability Advisory Council Inc
Nonprofit profile at a glance
- EIN
- 382468925
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Clifton, VA, USA
- Phone
- 7032645300
- Rating confidence
- Limited
Reported finances
- Revenue
- $1,954,098
- Expenses
- $1,844,993
- Assets
- $3,426,185
- Liabilities
- $1,474,160
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
19 people listed
Executive titles in this filing
- KIMBERLY CONDON (EXECUTIVE DIRECTOR)
Highest reported compensation
- KIMBERLY CONDON (EXECUTIVE DIRECTOR): $409,892 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The product liability advisory council ("plac") is a not-for-profit association of product manufacturers, suppliers, retailers, and select regulatory, litigation and appellate professionals who work to shape the common law of product liability and complex regulation, provide guidance on changing regulations, and strategically help corporations manage risk throughout the entire product lifecycle. Plac is a unique resource for companies who must defend their products' integrity and their companies' reputations. As an association we draft industry-leading amicus briefs, develop unparalleled conference and educational offerings, coordinate action groups and discussion forums, provide members the opportunity to network and engage with their peers, and facilitate the sharing of collective wisdom from a variety of industry areas.
What it reported doing in 2024
Plac conducts conferences, summits, and webinars throughout the year featuring attorneys and other top experts in various fields related to product liability law. These educational sessions provide members with the opportunity to interact and engage with other members and invited guests, and many of these sessions qualify for continuing legal education (cle) credits.
Operating model
- Revenue model
- Earned-program. 100% of the money available for current operations came from fees and other program revenue.
- Distribution model
- Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.
The verdict
- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.
Rating breakdown
- Financial Efficiency: NotEnoughData
- Transparency & Controls: 71
- Accountability: 95
- Sustainability: 46
- Growth: 20
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: Limited
- Program expense ratio: Limited
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Pass
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: Limited
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 7 of 8 controls in place; rating input score 88
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 5.6%; rating input score 51; 51st percentile among comparable filings
- Total-asset coverage ratio: 1.86; rating input score 62; 62nd percentile among comparable filings
- Liabilities to assets ratio: 0.43; rating input score 18; 18th percentile among comparable filings
- Officer compensation ratio: 22.2%; rating input score 12; 12th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: -1.7% per year; rating input score 0; 10th percentile among comparable filings
- Asset growth: 7.7% per year; rating input score 100; 50th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 18 of 18 board members independent · 7 of 8 filing controls reported
- Programs: 3 filed program accomplishments · $1.2M in reported program spending
- Leadership: top reported pay $410K · 19 people listed · 2 of 6 pay-setting controls reported
- Highest-paid contractors: 1 contractor listed · $122K reported
- Consistency: 10 of 10 current checks pass
- Schedules: 4 filed schedules · includes executive pay
- Filing history: 15 filing years from 2010 to 2024
- Contacts: How to reach this organization
- Money network: 1 filed money-flow record
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- High — Growth: Revenue growth scored 0/100.
- Review — Sustainability: Operating margin scored 51/100.
- Review — Accountability: Governance controls: Independent financial-statement audit not reported.
- High — Sustainability: Officer compensation ratio scored 12/100.
- High — Sustainability: Liabilities to assets ratio scored 18/100.