Casualty Actuarial Society
- Assets
- $26.9m
- Revenue
- $19.0m
- Investments
- $0.0
- Employees
- 57
- Location
- Arlington, VA
- Founding
- 07/1963
- Data as of
- 09/2023
- EIN
- 13-6113674
Organization Overview
Casualty Actuarial Society is located in Arlington, VA. The organization was established in 1963. 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 09/2023, Casualty Actuarial Society employed 57 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Casualty Actuarial Society 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 09/2023, Casualty Actuarial Society generated $19.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $17.7m during the year ending 09/2023. While expenses have increased by 5.0% per year over the past 8 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.
Since 2022, Casualty Actuarial Society has awarded 14 individual grants totaling $379,180. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE THE BODY OF KNOWLEDGE OF ACTUARIAL SCIENCE APPLIED TO GENERAL INSURANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EXAMS:SPONSORED ACTUARIAL 7,893 EXAMS IN FY2023 TO EDUCATE STUDENTS ON PROPERTY CASUALTY APPLICATIONS. ONCE THEY HAVE PASSED THE EXAMS, THEY QUALIFY FOR MEMBERSHIP.
MEETINGS AND SEMINARS:SPONSORED 2 MEETINGS, 8 SEMINARS, 24 WEBINARS, AND 7 COURSES ON PROFESSIONALISM TO ADVANCE THE BODY OF ACTUARIAL KNOWLEDGE AND INCREASE THE AWARENESS OF ACTUARIAL SCIENCE.
PUBLICATIONS AND REFERENCE MATERIALS:PRODUCED 6 ISSUES OF ACTUARIAL REVIEW, 2 VARIANCE JOURNALS, SEVERAL WHITE PAPERS, RESEARCH PAPERS, AND MONOGRAPHS TO FURTHER THE KNOWLEDGE AND UNDERSTANDING OF PROPERTY CASUALTY ACTUARIAL PROFESSIONALS AND EXAM APPLICANTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Katherine Antonello Board Chair | OfficerTrustee | 20 | $0 |
Roosevelt Mosley President | OfficerTrustee | 10 | $8,667 |
Frank Chang President-Elect | OfficerTrustee | 10 | $0 |
Steve Belden Director | Trustee | 5 | $0 |
Justin Brenden Director | Trustee | 5 | $0 |
Kris Defrain Director | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ncs Pearson Inc Exam Testing Administration | 9/29/23 | $671,206 |
Mount Royal Printing Publishing And Printing | 9/29/23 | $178,215 |
Acs Ventures Llc Certification Consultant | 9/29/23 | $163,056 |
Netlogic Llc It Consulting, Database Administration | 9/29/23 | $156,933 |
American Academy Of Actuaries Abcd Fees | 9/29/23 | $146,672 |
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 | $17,354,162 |
| Investment income | $547,207 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,049,919 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $18,966,025 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $236,520 |
| Grants and other assistance to domestic individuals. | $46,450 |
| Grants and other assistance to Foreign Orgs/Individuals | $157,707 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,433,764 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $5,264,345 |
| Pension plan accruals and contributions | $208,789 |
| Other employee benefits | $842,368 |
| Payroll taxes | $415,750 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $159,034 |
| Fees for services: Accounting | $43,546 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,645,919 |
| Advertising and promotion | $530,578 |
| Office expenses | $1,103,156 |
| Information technology | $265,160 |
| Royalties | $0 |
| Occupancy | $410,920 |
| Travel | $1,051,227 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,104,607 |
| Interest | $2,500 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $71,819 |
| Insurance | $148,249 |
| All other expenses | $0 |
| Total functional expenses | $17,672,363 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $699,826 |
| Savings and temporary cash investments | $792,258 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $119,213 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $6,267 |
| Prepaid expenses and deferred charges | $668,881 |
| Net Land, buildings, and equipment | $210,268 |
| Investments—publicly traded securities | $23,286,751 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,076,730 |
| Total assets | $26,860,194 |
| Accounts payable and accrued expenses | $2,256,566 |
| Grants payable | $0 |
| Deferred revenue | $4,402,389 |
| 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 | $1,934,207 |
| Total liabilities | $8,593,162 |
| Net assets without donor restrictions | $18,267,032 |
| 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 | $26,860,194 |
Grants Awarded
Over the last fiscal year, Casualty Actuarial Society has awarded $226,520 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
THE ACTUARIAL FOUNDATION PURPOSE: TO PROVIDE FUNDING FOR ADMINISTRATION OF THE FOUNDATION. | $40,000 |
INTERNATIONAL ASSOCIATION OF BLACK ACTUARIES INC PURPOSE: TO PROVIDE FUNDING FOR ADMINISTRATION OF THE ASSOCIATION | $32,500 |
SOA RESEARCH INSTITUTE PURPOSE: ACTUARIAL RESEARCH | $44,500 |
ORGANIZATION OF LATINO ACTUARIES PURPOSE: TO PROVIDE FUNDING FOR ADMINISTRATION OF THE ORGANIZATION. | $20,000 |
INSURANCE INFORMATION INSTITUTE PURPOSE: ACTUARIAL RESEARCH | $30,000 |
PURDUE UNIVERSITY PURPOSE: ACTUARIAL RESEARCH | $16,000 |