University Risk Mgt & Ins Assn
- Assets
- $3.7m
- Revenue
- $1.3m
- Investments
- $2.8m
- Employees
- 7
- Location
- Bloomington, IN
- Founding
- 03/2008
- Data as of
- 12/2021
- 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 12/2021, University Risk Mgt & Ins Assn employed 7 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 12/2021, University Risk Mgt & Ins Assn generated $1.3m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.0%) each year. All expenses for the organization totaled $1.2m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.4%) per year over the past 7 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
THE MISSION OF THE UNIVERSITY RISK MANAGEMENT AND INSURANCE ASSOCIATION URMIA IS TO ADVANCE THE DISCIPLINE OF RISK MANAGEMENT IN HIGHER EDUCATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TRADITIONALLY, URMIA HOSTED A SERIES OF SPRING REGIONAL CONFERENCES IN LOCATIONS AROUND THE US. DUE TO THE LINGERING CORONAVIRUS PANDEMIC, WE UPGRADED OUR 2021 REGIONAL CONFERENCES TO ONE EXCITING VIRTUAL CONFERENCE SERIES. THE PROGRAM FOCUSED ON THE FOUR AREAS OF URMIAS CORE COMPETENCIES FOR HIGHER EDUCATION RISK MANAGERS. THIS NEW FORMAT OFFERED REGISTRANTS TWO HALF-DAY SESSIONS EACH MONTH FROM FEBRUARY THROUGH MAY. THAT WAS EIGHT DATES FOR NETWORKING AND LEARNING THAT WERE CONVENIENTLY SPREAD OUT OVER THE ENTIRE SPRING. THE PROGRAMMING FOR EACH MONTH COVERED ONE COMPETENCY AND FOCUSED ON ITS SUB-COMPETENCIES. WE HOSTED THE VIRTUAL EVENTS FROM 1-5PM ET. THE SERIES HAD 377 INDIVIDUALS REGISTER FOR IT.
WE EMERGED FROM THE STORM FOR OUR 52ND ANNUAL CONFERENCE IN SEATTLE, WA FROM OCTOBER 16-20, 2021. WE WERE THRILLED TO BE TOGETHER. IN ADDITION TO THE IN-PERSON EXPERIENCE, WE OFFERED A SELECTION OF VIRTUAL COMPONENTS FOR THOSE WHO WERE NOT READY OR ABLE TO TRAVEL. OUR HYBRID MODEL WAS INFORMED BY OUR 50 YEARS OF CONFERENCE EXPERIENCE AND BY ALL THAT WE LEARNED IN SUCCESSFULLY DELIVERING VIRTUAL CONFERENCES AND OTHER PROFESSIONAL DEVELOPMENT DURING THE PAST YEAR.
HIGHLIGHTS FROM THE 52ND ANNUAL CONFERENCE INCLUDED THREE GENERAL SESSIONS. THE FIRST WAS TITLED THE FUTURE CAMPUS. THE DEFINITION OF THE COLLEGE EXPERIENCE CHANGED DRAMATICALLY FOR STUDENTS, FACULTY, AND STAFF DURING THE PANDEMIC. THE SESSION ASKED YOU TO CONSIDER YOUR INSTITUTIONS PATH FORWARD, WHICH OF THESE CHANGES SHOULD YOU EMBRACE AS PART OF A NEW AND BETTER MODEL OF HOW YOU DELIVER LEARNING AND THE ON-CAMPUS EXPERIENCE FOR STUDENTS, AS WELL AS HOW YOU REIMAGINE THE WORK ENVIRONMENT FOR FACULTY AND STAFF. THE PANELISTS OFFERED THOUGHT-PROVOKING INSIGHTS ON THESE QUESTIONS AND MORE. THE PRESENTERS INCLUDED ANDRE LE DUC, CHIEF RESILIENCE OFFICER, UNIVERSITY OF OREGON, COLE CLARK, MANAGING DIRECTOR, HIGHER EDUCATION, DELOITTE SERVICES, LP AND COURTNEY H. MCBETH, ED.D., SVP, STRADA IMPACT OPERATIONS, STRADA EDUCATION NETWORK. THE SECOND GENERAL SESSION WAS A LIVELY AND INFORMATIVE CONVERSATION TITLED, EQUITY-CONSCIOUS LEADERSHIP EVALUATING INNOVATIVE PRACTICES AND MITIGATING RISK. TRICIA D. BRAND, ED.M, CHIEF DIVERSITY OFFICER, AT PORTLAND COMMUNITY COLLEGE SHARED
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Whittington Executive Director | OfficerTrustee | 40 | $115,959 |
Julie Groves President Elect | OfficerTrustee | 2 | $0 |
Willard C Fagler Jr Immediate Past President | OfficerTrustee | 2 | $0 |
Jack Harvard Broadway Treasurer | OfficerTrustee | 2 | $0 |
Flo Hoskinson Secretary | OfficerTrustee | 1 | $0 |
James Mulholland Assistant Treasurer | OfficerTrustee | 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 | $1,194,388 |
| Investment income | $127,270 |
| 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 | $1,321,658 |
| 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. | $115,959 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $265,785 |
| Pension plan accruals and contributions | $23,121 |
| Other employee benefits | $51,384 |
| Payroll taxes | $31,339 |
| 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 | $17,150 |
| Advertising and promotion | $0 |
| Office expenses | $69,420 |
| Information technology | $15,804 |
| Royalties | $0 |
| Occupancy | $31,693 |
| Travel | $16,275 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $526,248 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $9,585 |
| Insurance | $7,384 |
| All other expenses | $11,637 |
| Total functional expenses | $1,204,656 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $865,957 |
| Savings and temporary cash investments | $0 |
| 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 | $10,767 |
| Net Land, buildings, and equipment | $7,980 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $2,824,219 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,966 |
| Total assets | $3,731,889 |
| Accounts payable and accrued expenses | $2,067 |
| Grants payable | $14,023 |
| Deferred revenue | $517,552 |
| 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 | $533,642 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $3,198,247 |
| Total liabilities and net assets/fund balances | $3,731,889 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that University Risk Mgt & Ins Assn has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Spencer Educational Foundation Inc New York, NY PURPOSE: grant | $10,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
American Association Of Orthopaedic Surgeons Of America Rosemont, IL | $21,165,468 | $24,653,127 |
Dane Buy Local Foundation Inc Madison, WI | $199,958 | $19,130,759 |
St John Building Corporation St Louis, MO | $229,726,241 | $17,258,959 |
Appraisal Institute Chicago, IL | $29,125,581 | $19,187,200 |
American Massage Therapy Assn Evanston, IL | $43,659,958 | $20,082,192 |
National Roofing Contractors Association Rosemont, IL | $27,483,299 | $17,802,756 |
National Biodiesel Board Jefferson City, MO | $12,011,947 | $15,134,555 |
American Marketing Association Inc Chicago, IL | $9,741,723 | $15,191,106 |
Alliance For Audited Media Lisle, IL | $17,794,762 | $11,739,341 |
American Society Of Safety Professionals Park Ridge, IL | $23,941,077 | $16,437,200 |
Board Of Certified Safety Professionals Of The Americas Inc Indianapolis, IN | $35,079,358 | $17,695,377 |
Prestressed Concrete Institute Chicago, IL | $8,854,978 | $13,790,264 |