Practising Law Institute (the "Institute") provides the legal community with continuing professional education through lecture programs, publications and educational software.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
$5.1M paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $7.7M a year · 7% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$5.1M
to officers and key staff · 5% of spending
Looks good: pay to officers and key staff is 5% of spending; 15% or less.
Pt VII · Sec A
2 mo
of spending, in cash
Plus $118.3M in investments, Pt X · Ln 11–13
Fine: 2.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $10K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$102.9M
51% of total assets
Fine: liabilities are 51% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
21
of 21 voting members
Looks good: 21 of 21 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$114.8M
+10% vs prior year
Spent
$104.4M
To programs
92%
Net assets
$99.4M
By yearFY2020–FY2024
Revenue
$114.8M
FY2023▲ +10%
Tap a bar for its year
Revenue by fiscal year
FY2020$97.7M
FY2021$109.2M
FY2022$104.2M
FY2023$114.8M
FY2024$114.3M
Expenses
$104.4M
FY2023▲ +5%
Tap a bar for its year
Expenses by fiscal year
FY2020$91.1M
FY2021$94.3M
FY2022$99.5M
FY2023$104.4M
FY2024$112.3M
Net assets
$99.4M
FY2023▲ +24%
Tap a bar for its year
Net assets by fiscal year
FY2020$74.9M
FY2021$91.8M
FY2022$80.3M
FY2023$99.4M
FY2024$110.8M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1940.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $96.4M Management & general 8% · $8.0M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

38 people listed on the 990; $5.1M paid to officers and key staff.

Part VII, Section A · reportable compensation
$807,009Pt VII · Sec A
SR VP, Membership & Accreditation
$473,796Pt VII · Sec A
Chief Information Officer
$415,426Pt VII · Sec A
Chief Business Officer
$399,022Pt VII · Sec A
Director, Sec Institute
$389,869Pt VII · Sec A
Chief Marketing Officer
$369,477Pt VII · Sec A
SR VP, Human Resources & Facilities
$353,841Pt VII · Sec A
VP, Memb. Sales & A/C Svcs.
$349,793Pt VII · Sec A

Sharon L Crane’s $788K as President is at the 65th percentile of top reported officer pay among 674 $100M+ education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Sharon L Crane$788,230$807,009$719,666——
Anita C Shapiro————$737,358
Craig a Miller$521,199$473,796$430,746$516,306—
Craig Miller————$469,585
Christopher Rousseau$446,696$415,426$395,409$422,403$362,203
David M Smith$401,381$369,477$332,922$328,586—
Alan G Cohen$262,886$399,022$364,071$348,836$299,588
George M Wilson$387,279$389,869$369,982$352,743$335,530

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Offers legal professionals continuing education via lectures, publications, and software.

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Provided by the organization

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2 programs · $96.4M · in their own filed words · FY2023
01

Programs

In 2023, the institute provided live seminars, live webcasts, on-demand seminars, and audio and video downloads. Approximately 1,100,047 continuing education accreditation certificates were processed for these programs.

$81.0Mprogram expense
02

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 the legal community and allied professionals with the tools to stay abreast of new…

$15.4Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$10K

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$114.8M
Ln 12
Fees for servicesLn 2g$102.1M
Investment incomeLn 3$11.4M
Other incomeLn 4–11$1.3M
Money outPt IX
$104.4M
Ln 25
Programscol B$96.4M
Managementcol C$8.0M
Owns and owesPt X
$99.4M
net assets · Ln 32
Cash and savingsLn 1–2$21.6M
Total assetsLn 16$202.3M
LiabilitiesLn 26$102.9M
PeoplePt VI, VII
38
listed · VII A
PaidVII A14
Voting boardVI 1a21
IndependentVI 1b21
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$500
Fees for servicesLn 2g$102.1M
Investment incomeLn 3$11.4M
Other incomeLn 4–11$1.3M
Gains on assetsLn 7$8.9M
Total revenueLn 12$114.8M
Assets in detailPt X, end of year
CashLn 1$20.9M
SavingsLn 2$739K
Cash and savings togetherLn 1–2$21.6M
InvestmentsLn 11–13$118.3M
Land, buildings, equipmentLn 10c$27.6M
Other assetsLn 15$25.6M
Total assetsLn 16$202.3M
LiabilitiesLn 26$102.9M
Net assetsLn 32$99.4M
OperationsPt I, VI
EmployeesI 5324
VolunteersI 64,288
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$19.2M$21.6M
InvestmentsLn 11–13$102.5M$118.3M
Land, buildings, equipmentLn 10c$22.9M$27.6M
Total assetsLn 16$183.9M$202.3M
LiabilitiesLn 26$103.6M$102.9M
Net assetsLn 32$80.3M$99.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$21.6M$21.6M
Pay of current officers, directors and key staffLn 5$5.9M$4.1M$1.8M
Other salaries and wagesLn 7$34.0M$31.3M$2.8M
Pension plan contributionsLn 8$2.8M$2.5M$230K
Other employee benefitsLn 9$5.8M$5.2M$643K
Payroll taxesLn 10$2.8M$2.5M$276K
Management feesLn 11a$1.6M$1.4M$182K
Legal feesLn 11b$134K$63K$71K
Accounting feesLn 11c$269K$269K
Investment management feesLn 11f$528K$528K
Advertising and promotionLn 12$2.0M$2.0M
Office expensesLn 13$969K$867K$102K
Information technologyLn 14$6.6M$6.2M$399K
RoyaltiesLn 15$728K$728K
OccupancyLn 16$5.9M$5.5M$346K
TravelLn 17$1.0M$1.0M$41K
Conferences, conventions and meetingsLn 19$3.8M$3.8M$1K
InterestLn 20$212K$212K
Depreciation, depletion and amortizationLn 22$4.9M$4.7M$179K
InsuranceLn 23$536K$493K$43K
Other expenses (24a–d)Ln 24$2.0M$1.9M$134K
All other expensesLn 24e$243K$236K$7K
Total functional expensesLn 25$104.4M$96.4M$8.0M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $114.3M$112.3M$2.0M$110.8M 990 PDF
FY2023 Viewing $114.8M$104.4M$10.4M$99.4M 990 PDF
FY2022 $104.2M$99.5M$4.7M$80.3M 990 PDF
FY2021 $109.2M$94.3M$14.9M$91.8M 990 PDF
FY2020 $97.7M$91.1M$6.6M$74.9M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support J · Pay O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $114,795,383 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$500
I-9 Program service revenuePrior year $98,888,610$102,109,851
I-10 Investment incomePrior year $3,960,311$11,435,009
I-11 Other revenuePrior year $1,392,599$1,250,023
I-12 Total revenuePrior year $104,241,520$114,795,383
I-13 Grants and similar amounts paidPrior year $23,553,741$21,622,851
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $46,637,737$51,331,343
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $29,312,562$31,399,170
I-18 Total expensesPrior year $99,504,040$104,353,364
I-19 Revenue less expensesPrior year $4,737,480$10,442,019
Part VI · Governance 21 of 21 board members independent, no flags
VI-1a Voting members of the governing body21
VI-1b Independent voting members21
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $114,795,383 across 6 lines filed
Lines not itemized here account for $1,250,023 of total revenue; see the IRS return.
VIII-1f All other contributions, gifts and grants$500
VIII-1h Total contributions, gifts and grants$500
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $102,109,851$102,109,851
VIII-3 Investment incomeExcluded from tax $2,493,403$2,493,403
VIII-7 Net gain or loss on sales of assetsExcluded from tax $8,941,606$8,941,606
VIII-12 Total revenueRelated to mission $103,359,874 · Unrelated business $0 · Excluded from tax $11,435,009$114,795,383
Part IX · Statement of functional expenses $104,353,364 across 22 lines filed
IX-2 Grants to domestic individualsPrograms $21,622,851$21,622,851
IX-5 Pay of current officers, directors and key staffPrograms $4,128,437 · Management $1,777,539$5,905,976
IX-7 Other salaries and wagesPrograms $31,262,812 · Management $2,772,120$34,034,932
IX-8 Pension plan contributionsPrograms $2,531,222 · Management $229,719$2,760,941
IX-9 Other employee benefitsPrograms $5,169,682 · Management $643,001$5,812,683
IX-10 Payroll taxesPrograms $2,540,989 · Management $275,822$2,816,811
IX-11a Management feesPrograms $1,378,655 · Management $181,541$1,560,196
IX-11b Legal feesPrograms $62,678 · Management $70,998$133,676
IX-11c Accounting feesManagement $269,000$269,000
IX-11f Investment management feesManagement $528,367$528,367
IX-12 Advertising and promotionPrograms $2,031,121$2,031,121
IX-13 Office expensesPrograms $867,480 · Management $101,633$969,113
IX-14 Information technologyPrograms $6,204,605 · Management $399,154$6,603,759
IX-15 RoyaltiesPrograms $727,636$727,636
IX-16 OccupancyPrograms $5,543,360 · Management $346,368$5,889,728
IX-17 TravelPrograms $1,005,783 · Management $40,547$1,046,330
IX-19 Conferences, conventions and meetingsPrograms $3,754,984 · Management $1,100$3,756,084
IX-20 InterestPrograms $212,207$212,207
IX-22 Depreciation, depletion and amortizationPrograms $4,689,373 · Management $178,621$4,867,994
IX-23 InsurancePrograms $492,952 · Management $43,229$536,181
IX-24 Other expenses (24a–d)Programs $1,891,136 · Management $134,062$2,025,198
IX-24e All other expensesPrograms $235,686 · Management $6,894$242,580
IX-25 Total functional expensesPrograms $96,353,649 · Management $7,999,715 · Fundraising $0$104,353,364
Part X · Balance sheet $202,302,388 assets, 19 lines filed
X-1 Cash, non-interest-bearingStart of year $18,715,059$20,904,245
X-2 Savings and temporary cash investmentsStart of year $497,103$738,932
X-4 Accounts receivableStart of year $2,529,760$2,375,857
X-8 Inventories for sale or useStart of year $357,938$265,420
X-9 Prepaid expenses and deferred chargesStart of year $5,690,746$5,846,880
X-10c Land, buildings and equipment, netStart of year $22,908,757$27,627,978
X-11 Publicly traded securitiesStart of year $44,605,459$64,369,180
X-12 Other securitiesStart of year $57,908,393$53,930,640
X-14 Intangible assetsStart of year $761,800$616,500
X-15 Other assetsStart of year $29,885,936$25,626,756
X-16 Total assetsStart of year $183,860,951$202,302,388
X-17 Accounts payable and accrued expensesStart of year $9,447,031$10,153,901
X-19 Deferred revenueStart of year $34,431,031$37,769,934
X-24 Unsecured notes and loans payableStart of year $9,500,000$8,500,000
X-25 Other liabilitiesStart of year $50,172,216$46,508,413
X-26 Total liabilitiesStart of year $103,550,278$102,932,248
X-27 Net assets without donor restrictionsStart of year $80,310,673$99,370,140
X-32 Total net assets or fund balancesStart of year $80,310,673$99,370,140
X-33 Total liabilities and net assetsStart of year $183,860,951$202,302,388
Part XI · Reconciliation of net assets $99,370,140 net assets at year end
XI-1 Total revenue$114,795,383
XI-2 Total expenses$104,353,364
XI-3 Revenue less expenses$10,442,019
XI-4 Net assets at start of year$80,310,673
XI-5 Net unrealized gains (losses) on investments$9,597,277
XI-9 Other changes in net assets−$979,829
XI-10 Net assets at end of year$99,370,140

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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