Risk And Insurance Management Society Inc
- Assets
- $15.6m
- Revenue
- $12.3m
- Investments
- $0.0
- Employees
- 52
- Location
- New York, NY
- Founding
- 08/1960
- Data as of
- 12/2021
- EIN
- 13-1860397
Organization Overview
Risk And Insurance Management Society Inc, operating under the name Rims, is located in New York, NY. The organization was established in 1960. According to its NTEE Classification (Y03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Rims employed 52 individuals. This organization is the central organization for a national or regional group of organizations. Rims 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, Rims generated $12.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (6.4%) each year. All expenses for the organization totaled $13.3m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (3.4%) per year over the past 5 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
TO EDUCATE, ENGAGE AND ADVOCATE FOR THE GLOBAL RISK COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONFERENCE - THIS DEPARTMENT IS RESPONSIBLE FOR THE PLANNING AND PRODUCTION OF RIMS ANNUAL CONFERENCE & EXHIBITION, RIMS ERM CONFERENCE, RIMS RISK SUMMITS AND RIMS RISK FORUMS. RIMS ANNUAL CONFERENCE & EXHIBITION IS THE DEFINITIVE EVENT FOR RISK PROFESSIONALS, ATTRACTING APPROXIMATELY 10,000 RISK PROFESSIONALS (MEMBERS, NON-MEMBERS AND EXHIBITORS) WORLDWIDE. THIS PRESTIGIOUS EVENT OFFERS ITS ATTENDEES THE WIDEST RANGE OF EDUCATIONAL PROGRAMS, NETWORKING OPPORTUNITIES AND COMMUNICATIONS OF SIGNIFICANT HAPPENINGS THAT IMPACT RISK MANAGEMENT.
PUBLICATIONS - RISK MANAGEMENT MAGAZINE IS RIMS' FLAGSHIP PUBLICATION. IT IS PRODUCED SIX TIMES PER YEAR AND INCLUDES ARTICLES OF INTEREST TO PROFESSIONALS RESPONSIBLE FOR RISK AND INSURANCE MANAGEMENT IN BUSINESS AND INDUSTRIAL FIRMS, PUBLIC ADMINISTRATION AND GOVERNMENT, INSURANCE COMPANIES, AGENTS AND BROKERS, BUSINESS SERVICES AND OTHERS ALLIED TO THE FIELD. BY PROVIDING IN-DEPTH ANALYSIS OF THE WORLD OF RISK, RISK MANAGEMENT MAGAZINE IS A VITAL SOURCE OF PERTINENT INFORMATION FOR BUSINESS. THE MAGAZINE IS SUPPORTED BY ITS OFFICIAL BLOG, THE RISK MANAGEMENT MONITOR, WHICH OFFERS DAILY COVERAGE AND ANALYSIS OF THE LATEST RISK-RELATED NEWS AND ISSUES. RISK-WIRE, DISTRIBUTED TWICE PER WEEK, IS AN EXCLUSIVE NEWS SERVICE FOR RIMS MEMBERS THAT PROVIDES AN EXECUTIVE SUMMARY AND LINKS TO THE MOST IMPORTANT RISK MANAGEMENT STORIES OF THE DAY. ADDITIONAL ONLINE RESOURCES THAT PROVIDE TODAY'S RISK PROFESSIONALS WITH KNOWLEDGE, TOOLS AND RESOURCES THEY NEED TO BE SUCCESSFUL INCLUDE THE STRATEGIC & ENTERPRISE RISK CENTER, THE INTERNATIONAL CENTER FOR RISK MANAGEMENT AND RISK KNOWLEDGE. THESE ARE AVAILABLE TO BOTH MEMBERS AND THE GENERAL PUBLIC.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Roth Chief Executive Officer | Officer | 35 | $371,062 |
Mark Prysock General Counsel | Officer | 34 | $218,395 |
Annette Homan Chief Operating Officer | Officer | 34 | $218,210 |
Michael Peters Chief Technology Officer | Officer | 35 | $198,209 |
Soraya Wright Vp-Strategic Initiatives | Officer | 35 | $187,071 |
Katherine Gledhill Chief Financial Officer | Officer | 34 | $172,481 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Freeman Conference Logistics/management | 12/30/21 | $480,115 |
Higher Logic System Provider | 12/30/21 | $123,728 |
Safeguard Global Global Employment Organization | 12/30/21 | $117,046 |
Denise Cahill Instructional Design-education Materials | 12/30/21 | $137,006 |
Mcintyre & Lemon Pllc Advocacy - Research, Legislative | 12/30/21 | $136,172 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $42,590 |
| Government grants | $2,398,850 |
| All other contributions, gifts, grants, and similar amounts not included above | $100,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,541,440 |
| Total Program Service Revenue | $8,606,884 |
| Investment income | $158,068 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $876,461 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,268,578 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,300 |
| 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. | $1,730,903 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $4,520,913 |
| Pension plan accruals and contributions | $11,522 |
| Other employee benefits | $930,801 |
| Payroll taxes | $455,542 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $74,280 |
| Fees for services: Accounting | $124,942 |
| Fees for services: Lobbying | $234,414 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $41,279 |
| Fees for services: Other | $373,273 |
| Advertising and promotion | $232,226 |
| Office expenses | $1,191,863 |
| Information technology | $519,038 |
| Royalties | $0 |
| Occupancy | $851,939 |
| Travel | $21,157 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,184,677 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $185,824 |
| Insurance | $297,027 |
| All other expenses | $8,719 |
| Total functional expenses | $13,297,467 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,600,901 |
| Savings and temporary cash investments | $576,972 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $472,515 |
| 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 | $800,382 |
| Net Land, buildings, and equipment | $493,323 |
| Investments—publicly traded securities | $9,732,647 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $614,214 |
| Other assets | $278,910 |
| Total assets | $15,569,864 |
| Accounts payable and accrued expenses | $555,544 |
| Grants payable | $0 |
| Deferred revenue | $4,856,979 |
| 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 | $807,357 |
| Total liabilities | $6,219,880 |
| Net assets without donor restrictions | $9,349,984 |
| 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 | $15,569,864 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Risk And Insurance Management Society Inc has recieved totaling $57,547.
| Awarding Organization | Amount |
|---|---|
Spencer Educational Foundation Inc New York, NY PURPOSE: GENERAL GRANT | $57,547 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Motor Vehicle Accident Indemnification Corporation New York, NY | $88,183,278 | $45,559,851 |
Pennsylvania Professional Liability Joint Underwriting Association Blue Bell, PA | $353,920,542 | $27,707,766 |
Risk And Insurance Management Society Inc New York, NY | $15,569,864 | $12,268,578 |
Automobile Insurers Bureau Of Massachusetts Boston, MA | $2,744,805 | $12,244,779 |
Excess Line Association Of New York New York, NY | $36,201,317 | $11,240,697 |
Guaranty Fund Management Services Inc Boston, MA | $2,796,356 | $6,554,035 |
Society Of Chartered Property & Casualty Underwriters Inc Malvern, PA | $9,708,613 | $4,213,152 |
Massachussetts Association Of Insurance Agents Inc Milford, MA | $15,366,665 | $4,849,036 |
Spark Institute Inc Simsbury, CT | $3,290,502 | $1,638,817 |
Professional Insurance Agents Of New York State Inc Glenmont, NY | $9,604,460 | $1,641,025 |
New York State Funeral Directors Association Inc Albany, NY | $12,864,504 | $2,564,009 |
Independent Insurance Agents Of Nj Trenton, NJ | $4,471,739 | $772,064 |