Public Utilities Risk Management Association
- Assets
- $335.2k
- Revenue
- $435.3k
- Investments
- $0.0
- Employees
- 5
- Location
- Westborough, MA
- Founding
- 09/1997
- Data as of
- 12/2021
- EIN
- 04-3346955
Organization Overview
Public Utilities Risk Management Association is located in Westborough, MA. The organization was established in 1997. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 12/2021, Public Utilities Risk Management Association employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Public Utilities Risk Management Association 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, Public Utilities Risk Management Association generated $435.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.3% each year. All expenses for the organization totaled $469.7k during the year ending 12/2021. While expenses have increased by 2.2% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PUBLIC UTILITIES RISK MANAGEMENT ASSOCIATION IS A NOT-FOR-PROFIT ORGANIZATION THAT PROVIDES PUBLICLY OWNED UTILITIES CONSISTENTLY SUPERIOR AND COST EFFECTIVE INFORMATION, EDUCATION AND SOLUTIONS TO THEIR RISK MANAGEMENT NEEDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDES RISK MANAGEMENT SERVICES TO ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nichole Magnifico Executive Di | $157,742 | ||
Jay Kline Vice Preside | Officer | $0 | |
Gail Cohen Treasurer | Officer | $0 | |
Jeffrey Dobbins President | Officer | $0 | |
Kenneth Labrie Director | Trustee | $0 | |
Brooke Mcmahon Director | Trustee | $0 |
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 | $435,287 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $435,287 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $181,639 |
| Pension plan accruals and contributions | $5,819 |
| Other employee benefits | $22,032 |
| Payroll taxes | $14,145 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $25,295 |
| Fees for services: Accounting | $14,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $631 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $8,991 |
| Insurance | $9,104 |
| All other expenses | $4,510 |
| Total functional expenses | $469,665 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $152,161 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $43,193 |
| 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 | $3,013 |
| Net Land, buildings, and equipment | $36,878 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $100,000 |
| Total assets | $335,245 |
| Accounts payable and accrued expenses | $2,755 |
| Grants payable | $0 |
| Deferred revenue | $53,469 |
| 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 | $0 |
| Total liabilities | $56,224 |
| Net assets without donor restrictions | $279,021 |
| 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 | $335,245 |
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