Institute Of Management Accountants Inc
- Assets
- $66.1m
- Revenue
- $22.8m
- Investments
- $0.0
- Employees
- 129
- Location
- Montvale, NJ
- Founding
- 02/1974
- Data as of
- 06/2020
- EIN
- 22-2659674
Organization Overview
Institute Of Management Accountants Inc is located in Montvale, NJ. The organization was established in 1974. 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, Institute Of Management Accountants Inc employed 129 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Institute Of Management Accountants Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2020, Institute Of Management Accountants Inc generated $22.8m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $22.4m during the year ending 06/2020. While expenses have increased by 7.5% per year over the past 6 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 2020, Institute Of Management Accountants Inc has awarded 11 individual grants totaling $481,318. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A FORUM FOR RESEARCH, PRACTICE DEVELOPMENT, EDUCATION, KNOWLEDGE (CONTINUED IN SCH O) SHARING AND THE ADVOCACY OF THE HIGHEST ETHICAL AND BEST BUSINESS PRACTICES IN MANAGEMENT ACCT & FINANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP SERVICES PROVIDES OPPORTUNITIES FOR MEMBERS TO INCREASE THEIR KNOWLEDGE OF ACCOUNTING PRACTICES AND METHODS WITH EMPHASIS ON MANAGEMENT ACCOUNTING, AND TO INCREASE THEIR INDIVIDUAL CAPABILITIES. NETWORKING OPPORTUNITIES THROUGH CHAPTERS AND COUNCILS ENABLE MEMBERS TO LEARN FROM EACH OTHER AND PARTICIPATE IN LOCAL EDUCATIONAL EVENTS. ONLINE COMMUNITIES ARE ALSO PROVIDED TO CONNECT MEMBERS FROM ALL REGIONS. IN FISCAL YEAR 2022, YEAR-END MEMBERSHIP WAS 137,489.
EDUCATIONAL OPPORTUNITIES ARE PROVIDED TO ASSIST INDIVIDUALS PREPARING FOR THE CERTIFICATION EXAMINATION IN MANAGEMENT ACCOUNTING, AND TO MAINTAIN PROFESSIONAL CREDENTIALS IN MANAGEMENT ACCOUNTING. IN FISCAL YEAR 2022, CONTINUING EDUCATION COURSE CREDIT HOURS PROVIDED TO MEMBERS AND THE GENERAL PUBLIC TOTALED 505,494.
PUBLICATION OF ACCOUNTING PERIODICALS AND LITERATURE, AND ACCOUNTING RESEARCH STATEMENTS AND POSITION, AVAILABLE TO MEMBERS AND THE GENERAL PUBLIC TO INCREASE KNOWLEDGE AND ACCESS TO INFORMATION, IN MANAGEMENT ACCOUNTING PRACTICES AND METHODS. IN FISCAL YEAR 2022, YEAR-END MEMBERSHIP WAS 137,489 AND GENERAL PUBLIC PERIODICAL AND LITERATURE PURCHASED TOTALED 138.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeffrey Thomson Cma Csca Cae President & CEO | OfficerTrustee | 39 | $741,495 |
Doreen Remmen Cma Csca Cae Sr Vice President & CFO (thru 12/21) | Officer | 38.5 | $391,066 |
Deborah Warner Cae Cplp Vice President (thru 12/21) | 20 | $321,351 | |
Padraig Hare Cae Cgeit Vice President | 20 | $282,588 | |
Ellen Gurevich Cae Vice President | 20 | $265,946 | |
Patricia Stefanczyk Cae Vice President | 20 | $258,562 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
The Gate Worldwide Llc Advertising | 6/29/22 | $4,036,868 |
Valtech Solutions Inc It Services | 6/29/22 | $1,333,054 |
Personify Inc It Services | 6/29/22 | $602,479 |
Wharton Lyon & Lyon Insurance Services | 6/29/22 | $426,904 |
Stern Strategy Group Public Relations | 6/29/22 | $424,697 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $138,635 |
| Investment income | $654,417 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $693,030 |
| Net Rental Income | $84,327 |
| Net Gain/Loss on Asset Sales | $115,548 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $22,842,202 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $81,479 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,861,219 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,930,339 |
| Pension plan accruals and contributions | $612,523 |
| Other employee benefits | $1,712,543 |
| Payroll taxes | $1,008,181 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,124,432 |
| Fees for services: Accounting | $61,879 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $17,713 |
| Fees for services: Other | $0 |
| Advertising and promotion | $6,348,168 |
| Office expenses | $1,946,178 |
| Information technology | $706,587 |
| Royalties | $0 |
| Occupancy | $410,350 |
| Travel | $1,085,321 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $947,803 |
| Interest | $0 |
| Payments to affiliates | $544,341 |
| Depreciation, depletion, and amortization | $581,873 |
| Insurance | $243,769 |
| All other expenses | $0 |
| Total functional expenses | $22,436,500 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $16,698,423 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $720,197 |
| 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 | $791,802 |
| Investments—publicly traded securities | $32,736,865 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $11,852,006 |
| Total assets | $66,070,856 |
| Accounts payable and accrued expenses | $9,198,247 |
| Grants payable | $0 |
| Deferred revenue | $9,588,558 |
| 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 | $33,081,764 |
| Total liabilities | $51,868,569 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $14,202,287 |
Grants Awarded
Over the last fiscal year, Institute Of Management Accountants Inc has awarded $118,584 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Montvale, NJ PURPOSE: UNRESTRICTED SUPPORT OF ORG MISSION | $107,084 |
Lakewood Ranch, FL PURPOSE: SPONSORSHIP/AWARDS | $6,000 |
UNIVERSITY OF LOUISIANA LAFAYETTE IMA STUDENT CHAPTER PURPOSE: SPONSORSHIP/AWARDS | $5,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Global Associations Of Risk Proffesionals Inc Jersey City, NJ | $66,882,119 | $55,059,565 |
Natural Diamond Council Usa Inc New York, NY | $2,361,726 | $45,450,043 |
Better Health For Northeast New York Inc Albany, NY | $1,699,036 | $0 |
Hamaspik Of Orange County Inc Monroe, NY | $56,250,916 | $69,931,985 |
International Council Of Shopping Centers Inc New York, NY | $167,282,013 | $15,292,706 |
Housing Works Inc Brooklyn, NY | $30,231,683 | $31,989,444 |
Workers Compensation Security Fund Basking Ridge, NJ | $229,766,675 | $28,644,741 |
Broadway Cares-Equity Fights Aids Inc New York, NY | $15,399,806 | $32,018,599 |
Institute Of Management Accountants Inc Montvale, NJ | $66,070,856 | $22,842,202 |
Regional Industrial Development Corporation Of Sw Pa Pittsburgh, PA | $178,323,730 | $33,758,702 |
International Trademark Association Inc New York, NY | $31,452,258 | $17,397,846 |
American Association Of Advertising Agencies Inc New York, NY | $18,840,338 | $16,325,912 |