University Risk Mgt & Ins Assn
- Assets
- $4.1m
- Revenue
- $2.4m
- Investments
- $2.7m
- Employees
- 15
- Location
- Bloomington, IN
- Founding
- 03/2008
- Data as of
- 12/2023
- EIN
- 23-7240485
Organization Overview
University Risk Mgt & Ins Assn is located in Bloomington, IN. The organization was established in 2008. 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 12/2023, University Risk Mgt & Ins Assn employed 15 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. University Risk Mgt & Ins Assn 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 12/2023, University Risk Mgt & Ins Assn generated $2.4m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.5% each year. All expenses for the organization totaled $2.2m during the year ending 12/2023. While expenses have increased by 6.1% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE THE DISCIPLINE OF RISK MANAGEMENT IN HIGHER EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL CONFERENCE: URMIA HELD ITS 54TH ANNUAL CONFERENCE IN BALTIMORE, MARYLAND. THE URMIA ANNUAL CONFERENCE IS THE INDUSTRY'S PREMIER FACE-TO-FACE AND VIRTUAL EDUCATIONAL AND NETWORKING FORUM FOR RISK MANAGERS AND COMPANIES WHOSE FOCUS IS HIGHER EDUCATION. IT PROVIDES HIGHER EDUCATION RISK MANAGEMENT AND INSURANCE PROFESSIONALS WITH A VARIETY OF JOB-SPECIFIC BENEFITS AND A HIGH RETURN ON INVESTMENT. THE GENERAL SESSIONS INCLUDED: "THE STATE OF CYBER", "WHY SUSTAINABILITY MATTERS", "LEADERSHIP IN TROUBLING TIMES- AND A "UNIVERSITY LEADERSHIP PANEL". THE CONFERENCE FEATURED OVER 50 BREAKOUT SESSIONS, A ROBUST PRE-CONFERENCE LINEUP INCLUDING A FOUNDATIONS SESSION TARGETED TO ATTENDEES WHO ARE NEWER TO HIGHER EDUCATION RISK MANAGEMENT AND A REVIEW SESSION FOR THE ARM 401 CREDENTIAL. SOCIAL EVENTS INCLUDED OUR PRESIDENTS RECEPTION TO WELCOME NEW ATTENDEES, A CHARITY REGATTA, GOLF OUTING, AND MANY OTHER COMMUNITY SERVICE OPPORTUNITIES THROUGH URMIACARES, OUR OPENING RECEPTION AND OUR CLOSING EVENT WAS HELD AT THE NATIONAL AQUARIUM. THE CONFERENCE HAD A TOTAL OF 977 ATTENDEES INCLUDING A MAJORITY OF INSTITUTIONAL MEMBERS AND NONMEMBERS, AFFILIATE MEMBERS AND NON-MEMBERS AND RETIREES AND GUESTS.
REGIONAL/OTHER EDUCATION URMIA CONTINUED TO OFFER IN-PERSON REGIONALLY-BASED CONFERENCES IN THE SPRING OF 2023. LOCATIONS INCLUDED ORLANDO, ANAHEIM, AND BOSTON. COMBINED WE EDUCATED 300 PERSONS AT THESE EVENTS. THESE ONE- AND TWO-DAY CONFERENCES PROVIDE TARGETED EDUCATIONAL SESSIONS AS WELL AS PROFESSIONAL NETWORKING OPPORTUNITIES CLOSER TO HOME. WE ALSO CONTINUED TO OFFER MANY VIRTUAL PROGRAMS. OUR WEBINARS IN 2023 INCLUDED OUR BEST OF ANNUAL CONFERENCE WEBINAR SERIES THAT CONTINUES TO BE POPULAR. ALSO, OUR REGULARLY SCHEDULED COMPLIANCE COMMUNITY MEETINGS AS WELL AS OUR ERM ROUNDTABLE MEETINGS KEEP MANY MEMBERS ENGAGED AND FOCUSED. NEW MEETINGS FOR THE PROFESSIONALS OF COLOR COMMUNITY, WATER COOLER DISCUSSIONS AND URMIA COLLEAGUE CONNECTIONS FOR MEMBER ORIENTATION FURTHER ENSURE MEMBERS ARE CONNECTED TO EACH OTHER. IN TOTAL, WE HAVE HAD OVER 3,000 LOG INTO THESE PROGRAMS. WE ALSO CONTINUE OUR PODCAST URMIAMATTERS SEASON 3, WE'VE ADDED SELF-PRODUCED, ZERO ADDITIONAL COST, DYNAMIC CONTENT AROUND OUR MAIN EPISODES AS PROMOTION FOR CONFERENCES. WE'VE HAD A TOTAL OF 13,354 LISTENS OF 105 TOTAL EPISODES INCLUDING 42 WITH RISK MANAGEMENT TOPICS AND 62 WITH ASSOCIATION NEWS. OUR NUMBER ONE EPISODE IS THE WELCOME, LAUNCHED 11/12/19 WITH 273 LISTENS. TIPS TO EASE THE PROPERTY RENEWAL PROCESS HAS BECOME THE NUMBER ONE RM TOPIC PODCAST WITH 245 LISTENS. NEAR THE TOP IS STILL SEASON 1, EP 19: COMPLIANCE RISK (231 LISTENS), AND SEASON 1, EP 28: TITLE IX REVIEW WITH 232 LISTENS.
TO PROVIDE A FORUM FOR THE EXCHANGE OF INFORMATION BETWEEN COLLEGE AND UNIVERSITY RISK MANAGERS; TO ENCOURAGE THE USE OF COMMON CONCEPTS AND PRACTICES IN THE ORGANIZATION AND IMPLEMENTATION OF A RISK MANAGEMENT PROGRAM; TO PROVIDE OPPORTUNITIES FOR FAMILIARIZING COLLEGE AND UNIVERSITY RISK AND INSURANCE MANAGERS WITH CURRENT DEVELOPMENTS IN RELATED INDUSTRIES; TO DEVELOP AND MAINTAIN INTEREST ON A NATIONWIDE BASIS IN CONTINUOUS IMPROVEMENT OF THE PRINCIPLES AND PRACTICES OF RISK MANAGEMENT, INSURANCE AND CORPORATE LOSS CONTROL IN HIGHER EDUCATION, AND TO FOSTER AND MAINTAIN THE PURSUIT OF THESE FUNCTIONS AS A PROFESSION WITH PROFESSIONAL IDEALS AND STANDARDS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Whittington Executive Di | Officer | 40 | $190,739 |
Courtney Davis Curtis Immed Past P | OfficerTrustee | 2 | $0 |
Miguel O Delgado Director | Trustee | 2 | $0 |
Julie Groves President | OfficerTrustee | 10 | $0 |
Flo Hoskinson Secretary | OfficerTrustee | 2 | $0 |
Juan M Azcarate III Director | Trustee | 2 | $0 |
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 | $2,147,303 |
| Investment income | $147,499 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $60,798 |
| 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 | $2,386,068 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $20,523 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $190,739 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $463,164 |
| Pension plan accruals and contributions | $39,509 |
| Other employee benefits | $71,696 |
| Payroll taxes | $48,637 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,000 |
| Office expenses | $14,526 |
| Information technology | $105,354 |
| Royalties | $0 |
| Occupancy | $33,148 |
| Travel | $120,945 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $843,617 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,214 |
| Insurance | $27,108 |
| All other expenses | $33,979 |
| Total functional expenses | $2,174,436 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $432,540 |
| Savings and temporary cash investments | $963,021 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $17,939 |
| Net Land, buildings, and equipment | $19,025 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,678,960 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $15,736 |
| Total assets | $4,127,221 |
| Accounts payable and accrued expenses | $56,598 |
| Grants payable | $0 |
| Deferred revenue | $685,111 |
| 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 | $741,709 |
| Net assets without donor restrictions | $3,385,512 |
| 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 | $4,127,221 |