Merchant Risk Council Inc
- Assets
- $7.6m
- Revenue
- $9.2m
- Investments
- $0.0
- Employees
- 29
- Location
- Redmond, WA
- Founding
- 09/2002
- Data as of
- 06/2022
- EIN
- 13-4142147
Organization Overview
Merchant Risk Council Inc, operating under the name Mrc, is located in Redmond, WA. The organization was established in 2002. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 06/2022, Mrc employed 29 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mrc 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 06/2022, Mrc generated $9.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.8% each year. All expenses for the organization totaled $7.7m during the year ending 06/2022. While expenses have increased by 5.8% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
BE THE GO-TO PLACE FOR ECOMMERCE PAYMENT AND FRAUD PROFESSIONALS GLOBALLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MERCHANT RISK COUNCIL'S PROGRAMS, GOALS, AND OBJECTIVES ARE BUILT ON FOUR PILLARS - COLLABORATION, NETWORKING, EDUCATION, AND ADVOCACY. WITH THOSE FUNDAMENTAL PILLARS AS THE GUIDING PRINCIPLES, MERCHANT RISK COUNCIL (MRC) HOSTED TWO IN-PERSON CONFERENCES, WELCOMING PAYMENTS AND FRAUD PROFESSIONALS FROM AROUND THE WORLD AND PROVIDING AN ENVIRONMENT FOR LEARNING, SHARING INDUSTRY INSIGHTS AND BEST PRACTICES, AND NETWORKING. TO CONTINUALLY OFFER DIFFERENT WAYS FOR INDUSTRY PROFESSIONALS TO GET TOGETHER, COLLABORATE, AND LEARN FROM COLLEAGUES, THE MRC ALSO HOSTED A NUMBER OF VIRTUAL SUMMITS ON TRENDING INDUSTRY TOPICS, AS WELL AS IN-PERSON REGIONAL NETWORKING EVENTS IN THE AMERICAS, EUROPE, AND ASIA-PACIFIC.
IN ADDITION, ADVOCACY IS OF THE UTMOST IMPORTANCE TO THE MRC. THE WORK THAT THE MRC UNDERTAKES ON BEHALF OF THE MEMBERS CONTINUES TO BENEFIT THE PAYMENTS INDUSTRY ACROSS THE BOARD AS ECOMMERCE INDUSTRY GROWS IN COMPLEXITY AND THE CHALLENGES INCREASE. PART OF THE ADVOCATING EFFORTS IS WORKING WITH REGULATORS AND LEGISLATORS TO ENSURE THEY UNDERSTAND THE IMPACT THEIR DECISIONS MAY HAVE ON THE MERCHANTS AND THE ALREADY COMPLICATED ECOSYSTEM. THIS MEANS THAT THE MRC NEEDS TO BE CLOSELY CONNECTED WITH THE COMMUNITY AND ON TOP OF EMERGING PAYMENTS AND FRAUD TRENDS. TO THAT END, THE MRC PROMOTES COLLABORATION AND NETWORKING THROUGH VARIOUS COMMUNITY GROUPS AND COMMITTEES, AND IT CONDUCTS ANNUAL SURVEYS IN PARTNERSHIP WITH MEMBERS RESULTING IN BENCHMARKING REPORTS PROVIDING VALUABLE INSIGHTS IN INDUSTRY TRENDS.
THE MRC PLACES GREAT VALUE ON INDUSTRY EDUCATION AND PROVIDES EDUCATIONAL CONTENT THROUGH WEBINARS, WORKSHOPS, AND AN EVER-EXPANDING CATALOG OF ACCREDITED ONLINE COURSES ON TOPICS RELEVANT TO PAYMENTS AND FRAUD PREVENTION PROFESSIONALS.
THE MRC LEVERAGED ITS EXTENSIVE INSTITUTIONAL KNOWLEDGE AND RELATIONSHIPS ACROSS THE PAYMENTS AND FRAUD PREVENTION INDUSTRIES TO DEVELOP AN UNPRECEDENTED CERTIFICATION PROGRAM. CERTIFIED PAYMENTS AND FRAUD PREVENTION PROFESSIONAL (CPFPP) CERTIFICATION PROVIDES VERIFIED PROOF OF EXPERTISE FOR ANYONE HOPING TO ADVANCE THEIR CAREER IN THE RELATED FIELDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Julie Fergerson Chief Executive Officer | Officer | 40 | $322,177 |
Lea Prosenica Marketing Director | 40 | $170,272 | |
Tracy Brown Vp, Programs And Technology | Officer | 40 | $153,112 |
Suzan Snodgrass Thru 421 Global Director Of Finance & Ops. | 40 | $115,508 | |
Julie Lynch Director Of Finance And Admin. | Officer | 40 | $77,893 |
Trevor Nies Chair | OfficerTrustee | 4 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Belweather Corporation Event Production And Coordination | 6/29/21 | $152,180 |
Sound Planning Meeting And Events Event Planning | 6/29/21 | $191,850 |
Cvent Inc Meeting Registration Saas And Hosting | 6/29/21 | $121,888 |
Intrado Digital Media Llc Virtual Meeting Webcasting | 6/29/21 | $105,654 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $573,055 |
| 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 | $573,055 |
| Total Program Service Revenue | $8,598,009 |
| Investment income | $4,226 |
| 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 | $9,175,290 |
| 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. | $574,045 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,832,947 |
| Pension plan accruals and contributions | $49,033 |
| Other employee benefits | $195,303 |
| Payroll taxes | $153,147 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,380 |
| Fees for services: Accounting | $71,290 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $649,802 |
| Advertising and promotion | $68,065 |
| Office expenses | $110,266 |
| Information technology | $702,059 |
| Royalties | $0 |
| Occupancy | $86,956 |
| Travel | $68,985 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,820,854 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $24,565 |
| Insurance | $23,287 |
| All other expenses | $75,803 |
| Total functional expenses | $7,664,147 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,471,218 |
| Savings and temporary cash investments | $4,615,284 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $66,664 |
| 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 | $335,201 |
| Net Land, buildings, and equipment | $69,207 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $17,124 |
| Total assets | $7,574,698 |
| Accounts payable and accrued expenses | $1,076,607 |
| Grants payable | $0 |
| Deferred revenue | $1,442,355 |
| 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 | $2,518,962 |
| Net assets without donor restrictions | $5,055,736 |
| 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 | $7,574,698 |