Risk Management Association
- Assets
- $47.0m
- Revenue
- $22.6m
- Investments
- $0.0
- Employees
- 110
- Location
- Philadelphia, PA
- Founding
- 06/1934
- Data as of
- 08/2021
- EIN
- 23-0892360
Organization Overview
Risk Management Association is located in Philadelphia, PA. The organization was established in 1934. 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 08/2021, Risk Management Association employed 110 individuals. This organization is the central organization for a national or regional group of organizations. 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 08/2021, Risk Management Association generated $22.6m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.2%) each year. All expenses for the organization totaled $22.0m during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (1.8%) per year over the past 6 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
RMA IS A MEMBER-DRIVEN PROFESSIONAL ASSOCIATION WHOSE SOLE PURPOSE IS TO ADVANCE SOUND RISK PRINCIPLES IN THE FINANCIAL SERVICES INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WEB-BASED TRAINING PRODUCTS
TRAINING EVENTS - SEMINARS SPONSORED AT VARIOUS DOMESTIC AND INTERNATIONAL LOCATIONS THROUGHOUT THE YEAR
CONFERENCES AND ROUND TABLES - CREDIT RISK, OPERATIONAL RISK, MARKET RISK, ENTERPRISE RISK AND SECURITIES LENDING CONFERENCES AND PEER SHARING MEETINS HELD EACH YEAR
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy J Foster Director, President & CEO | OfficerTrustee | 40 | $764,064 |
Edward Demarco Corporate Secretary, Cao | Officer | 40 | $554,122 |
Eric Baxley Chief Marketing Officer | Officer | 40 | $378,518 |
Francis Garritt Dir. Of Securities Lending & Market Risk | Officer | 40 | $337,670 |
Brian Weiss Chief Strategy Officer | Officer | 40 | $316,476 |
Cynthia L Mcbride Former Dir. Of Pd & Academic | 40 | $264,176 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tma Resource Hosting & Maintenance | 8/30/21 | $432,943 |
Taum Corporation Consulting Services | 8/30/21 | $281,455 |
Method Savvy Llc Consulting Services | 8/30/21 | $198,000 |
Marcato Advisors Llc Consulting Services | 8/30/21 | $183,397 |
Ernst & Young Us Llp Consulting Services | 8/30/21 | $142,837 |
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 | $20,930,299 |
| Investment income | $1,675,324 |
| 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 | $22,605,623 |
| 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. | $2,864,113 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $6,253,877 |
| Pension plan accruals and contributions | $354,585 |
| Other employee benefits | $3,633,189 |
| Payroll taxes | $648,485 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $11,895 |
| Fees for services: Accounting | $54,867 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,544,990 |
| Advertising and promotion | $548,449 |
| Office expenses | $720,035 |
| Information technology | $1,827,431 |
| Royalties | $746,450 |
| Occupancy | $794,540 |
| Travel | $22,515 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $675,891 |
| Interest | $9,438 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $131,774 |
| Insurance | $118,980 |
| All other expenses | $0 |
| Total functional expenses | $22,030,357 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,848,395 |
| Savings and temporary cash investments | $2,210,434 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,271,447 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $12,432 |
| Prepaid expenses and deferred charges | $545,950 |
| Net Land, buildings, and equipment | $242,502 |
| Investments—publicly traded securities | $39,830,913 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $46,962,073 |
| Accounts payable and accrued expenses | $6,241,677 |
| Grants payable | $0 |
| Deferred revenue | $8,155,811 |
| 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 | $1,663,290 |
| Total liabilities | $16,060,778 |
| Net assets without donor restrictions | $30,901,295 |
| 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 | $46,962,073 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Association Of Graduates Of The United States Military Academy West Point, NY | $680,065,484 | $129,264,808 |
Risk Management Association Philadelphia, PA | $46,962,073 | $22,605,623 |
B Lab Company Berwyn, PA | $11,530,827 | $18,993,326 |
Society Of Cable Telecommunications Engineers Inc Exton, PA | $14,059,235 | $12,351,666 |
United States Naval Institute Annapolis, MD | $27,665,507 | $24,447,598 |
Government Employees Benefit Association Inc Hanover, MD | $24,504,834 | $8,425,068 |
County Commissioners Association Of Ohio Columbus, OH | $7,535,269 | $6,334,760 |
Pennsylvania Bankers Association Harrisburg, PA | $5,090,487 | $5,734,321 |
New York Bankers Association Inc New York, NY | $29,674,110 | $5,797,174 |
Pennsylvania Credit Union Association Harrisburg, PA | $17,137,050 | $4,756,465 |
Ctam Cable Marketing Association Inc Oxon Hill, MD | $8,042,835 | $4,934,195 |
New York Credit Union Association Inc Albany, NY | $26,477,770 | $2,081,668 |