Overview
What is Product Liability Advisory Council Inc?
Product Liability Advisory Council Inc, headquartered in Reston, Virginia, is a nonprofit association primarily focused on product liability law. Comprising manufacturers, suppliers, retailers, and legal professionals, its mission is to influence the development of product liability common law and regulations, offering guidance on regulatory changes and aiding corporations in risk management throughout the product lifecycle. The organization conducts educational events, such as conferences, summits, and webinars, featuring legal experts, providing members with opportunities for engagement and continuing legal education credits. With a small team of two dedicated individuals, Product Liability Advisory Council Inc serves as a unique resource for companies seeking to protect their products' integrity and maintain their reputations.
Official website here: www.plac.com
Is Product Liability Advisory Council Inc legitimate?
Product Liability Advisory Council Inc is a legitimate nonprofit organization registered as a 501(c)(6) entity. Product Liability Advisory Council Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $323,921
Professional Fundraising Fees: $0
Other Salaries and Wages: $60,000
For more financial information, click here
Official website here: www.plac.com
What is the mission statement of Product Liability Advisory Council Inc?
The Product Liability Advisory Council Inc, often referred to as PLAC, is a non-profit organization comprising manufacturers, suppliers, retailers, regulatory professionals, litigators, and appellate experts. Their primary mission is to influence the common law of product liability and complex regulations. PLAC offers guidance on evolving regulations and assists corporations in managing risk throughout a product's lifecycle. They are renowned for drafting industry-leading amicus briefs, organizing educational events, coordinating action groups, and facilitating peer-to-peer networking. PLAC serves as a unique resource for companies seeking to protect their products' integrity and safeguard their reputation.
Official website here: www.plac.com
Who is the CEO of Product Liability Advisory Council Inc?
Kimberly Condon is the Director of Product Liability Advisory Council Inc.
Official website here: www.plac.com
What is the revenue of Product Liability Advisory Council Inc?
Product Liability Advisory Council Inc's revenue in 2022 was $1,687,396.
Official website here: www.plac.com
Who are the executives of Product Liability Advisory Council Inc and what are their salaries?
The average compensation at Product Liability Advisory Council Inc during 2022 was $191,960. There are 2 employees and 180 volunteers at Product Liability Advisory Council Inc.
Here are 18 key members and their salaries:
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- Compensation: $286,800
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- Other: $37,121
Official website here: www.plac.com
Where can I find the form 990 for Product Liability Advisory Council Inc?
Product Liability Advisory Council Inc's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.plac.com
Learn more at the official website: www.plac.com
Mission Statement of Product Liability Advisory Council Inc
The Product Liability Advisory Council Inc, a not-for-profit association, is dedicated to shaping the common law of product liability and complex regulations. This organization, comprised of product manufacturers, suppliers, retailers, regulatory professionals, litigators, and appellate attorneys, aims to provide guidance on changing regulations and strategically help corporations manage risk throughout a product's lifecycle. The Product Liability Advisory Council Inc serves as a unique resource for companies seeking to protect their products' integrity and preserve their reputations.
In pursuit of its mission, the Product Liability Advisory Council Inc drafts industry-leading amicus briefs, organizes conferences and educational offerings, coordinates action groups and discussion forums, and offers members the opportunity to engage with their peers. Members of this council benefit from the collective wisdom of various industry areas, fostering a platform for knowledge sharing and strategic risk management. The organization's activities are geared towards providing valuable insights and tools to its members, thereby enabling them to navigate the complex landscape of product liability law effectively.
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Impact
October, 2024
The Product Liability Advisory Council Inc significantly influences the landscape of product liability law and corporate risk management. By offering educational programs such as conferences, summits, and webinars led by attorneys and experts in the field, the organization equips its members with the knowledge necessary to navigate the complexities of product liability. This ongoing education allows companies to stay informed about legal developments and regulatory changes, thereby enhancing their ability to defend their products and protect their reputations.
Through its focus on drafting industry-leading amicus briefs, PLAC shapes the common law surrounding product liability. This advocacy not only impacts the legal framework but also serves to inform and influence broader discussions relevant to manufacturers, suppliers, and retailers. By fostering networking opportunities and creating forums for discussion, PLAC enables the sharing of insights and strategies among members. This collaborative effort helps corporations manage risks effectively throughout the product lifecycle, ultimately contributing to improved safety standards and community well-being. Additionally, the provision of Continuing Legal Education (CLE) credits for many of its sessions underscores PLAC’s commitment to professional development within the legal community, ensuring that practitioners are well-prepared to address emerging challenges in product liability.
This information is meant to be a general summary of Product Liability Advisory Council Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $999
- Program Service Revenue: $366,973
- Gross Receipts: $1,687,396
Assets and Liabilities:
- Total Assets: $3,356,519
- Total Liabilities: $1,609,710
- Net Assets: $1,746,809
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
CONFERENCES
Revenue
$250,973
SPONSORSHIP
Revenue
$116,000
Organization Details
Founding Year
1983
Phone
(703) 264-5300Principal Officer
Kimberly Condon
Main Address
1850 CENTENNIAL PARK DR 510, RESTON, VA, 201911517
Website
www.plac.comNTEE Category
Code: S40 - Community improvement
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