International City Management Association Retirement Corp
- Assets
- $583.8m
- Revenue
- $249.4m
- Investments
- $161.4m
- Employees
- 770
- Location
- Washington, DC
- Founding
- 04/1973
- Data as of
- 12/2020
- EIN
- 23-7268394
Organization Overview
International City Management Association Retirement Corp, operating under the name Missionsquare Retirement, is located in Washington, DC. The organization was established in 1973. According to its NTEE Classification (Y30) the organization is classified as: Pension & Retirement Funds, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Missionsquare Retirement employed 770 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Missionsquare Retirement 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 12/2020, Missionsquare Retirement generated $249.4m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $221.9m during the year ending 12/2020. While expenses have increased by 1.7% 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 2014, Missionsquare Retirement has awarded 21 individual grants totaling $25,727,328. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO LESSEN THE BURDENS OF STATE AND LOCAL GOVERNMENTS... (CON'T ON SCHEDULE O, GENERAL STATEMENT 1) GENERAL STATEMENT 1TO LESSEN THE BURDENS OF STATE AND LOCAL GOVERNMENTS AND THEIR AGENCIES AND INSTRUMENTALITIES BY ASSISTING THEM IN ESTABLISHING AND ADMINISTERING QUALIFIED DEFERRED COMPENSATION AND OTHER RETIREMENT PLANS, AND BY PROVIDING THEM WITH RETIREMENT PLAN ADMINISTRATION AND ASSET MANAGEMENT SERVICES THAT INCLUDE BROAD-BASED FINANCIAL AND RETIREMENT PLANNING AND RELATED INVESTMENT EDUCATION SUPPORT. THE CORPORATION MAKES ITS SERVICES AVAILABLE TO ALL MUNICIPAL GOVERNMENT EMPLOYERS, INCLUDING MANY THAT HAVE LIMITED OR NO OTHER VIABLE RETIREMENT PLAN ADMINISTRATION OR PUBLIC TRUST INVESTMENT OPTIONS AVAILABLE TO THEM.
Describe the Organization's Program Activity:
THE CORPORATION PROVIDED PLAN ADMINISTRATION, ASSET MANAGEMENT, AND RETIREMENT EDUCATION AND PLANNING SERVICES TO 4,713 STATE AND LOCAL GOVERNMENT EMPLOYERS, OFFERING 9,922 RETIREMENT PLANS WITH 1,640,149 PUBLIC SECTOR EMPLOYEE RETIREMENT ACCOUNTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wayne Wicker Senior Vice President | 40 | $2,821,947 | |
Lynne Ford President, Ceo, Director | OfficerTrustee | 40 | $1,390,308 |
Karen Chong-Wulff Managing Vice President | 40 | $1,080,021 | |
Angela Montez Until 42521 Secretary, General Counsel | Officer | 40 | $1,060,175 |
Flora Hedrick Managing Vice President | 40 | $782,094 | |
Dai Shi Treasurer, CFO | Officer | 40 | $641,587 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Slalom Consulting Llc Management Consulting | 12/30/21 | $4,451,357 |
Data Management Group Llc It Consulting | 12/30/21 | $2,466,156 |
Our Ideaworks Llc It Consulting | 12/30/21 | $1,379,270 |
Microsoft Licensing Gp It Services | 12/30/21 | $788,110 |
Sullivan & Company Marketing Collateral Video Production | 12/30/21 | $735,375 |
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 | $230,250,430 |
| Investment income | $9,656,319 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $9,282,740 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $249,374,685 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,242,955 |
| 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. | $6,317,216 |
| Compensation of current officers, directors, key employees. | $3,147,084 |
| Compensation to disqualified persons | $1,174,641 |
| Other salaries and wages | $108,706,687 |
| Pension plan accruals and contributions | $4,795,422 |
| Other employee benefits | $14,473,502 |
| Payroll taxes | $7,089,399 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,058,836 |
| Fees for services: Accounting | $961,806 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $139,079 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,523,218 |
| Office expenses | $2,333,658 |
| Information technology | $19,470,850 |
| Royalties | $2,520,222 |
| Occupancy | $6,547,972 |
| Travel | $1,662,865 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $439,765 |
| Interest | $67,242 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $6,516,880 |
| Insurance | $1,756,747 |
| All other expenses | $11,451,999 |
| Total functional expenses | $221,903,207 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $526,513 |
| Savings and temporary cash investments | $31,561,600 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $30,966,166 |
| 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 | $13,912,069 |
| Net Land, buildings, and equipment | $12,968,631 |
| Investments—publicly traded securities | $322,208,309 |
| Investments—other securities | $161,382,349 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $10,286,734 |
| Total assets | $583,812,371 |
| Accounts payable and accrued expenses | $56,963,244 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $11,563,632 |
| Total liabilities | $68,526,876 |
| Net assets without donor restrictions | $515,285,495 |
| 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 | $583,812,371 |
Grants Awarded
Over the last fiscal year, International City Management Association Retirement Corp has awarded $20,109,668 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: SEE SCHEDULE I, PART IVTHE PURPOSE OF THIS TEN-YEAR PLEDGE-GRANT TO MISSIONSQUARE FOUNDATION WAS TO SUPPORT ITS WORK TO BUILD STRONGER COMMUNITIES AND CREATE LONG-TERM FINANCIAL RESILIENCY FOR FAMILIES. | $20,000,000 |
Chestnut Hill, MA PURPOSE: SEE SCHEDULE I, PART IVTHE PURPOSE OF THIS GRANT TO BOSTON COLLEGE'S CENTER FOR RETIREMENT RESEARCH WAS TO FUND RESEARCH IN AREAS OF PUBLIC SECTOR FINANCIAL AND RETIREMENT SECURITY, INCLUDING RETIREMENT BENEFITS AND RETIREE HEALTHCARE MATTERS. | $74,668 |
Chicago, IL PURPOSE: SEE SCHEDULE I, PART IVTHE PURPOSE OF THIS GRANT TO FEEDING AMERICA WAS TO SUPPORT ITS WORK TO PROVIDE FOOD SERVICES AND CRITICAL INFRASTRUCTURE TO COMMUNITIES IN NEED. | $25,000 |
Washington, DC PURPOSE: SEE SCHEDULE I, PART IVTHE PURPOSE OF THIS GRANT TO MIRIAM'S KITCHEN WAS TO SUPPORT ITS WORK TO PROVIDE HOMELESS SERVICES TO COMMUNITIES IN NEED. | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that International City Management Association Retirement Corp has recieved totaling $1,589,908.
| Awarding Organization | Amount |
|---|---|
The Center For State And Local Government Excellence Inc Washington, DC PURPOSE: TRANSFER OF NET ASSETS | $794,954 |
The Center For State And Local Government Excellence Inc Washington, DC PURPOSE: TRANSFER OF NET ASSETS | $794,954 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
National Elevator Industry Health Benefit Plan Newtown Square, PA | $3,162,621,306 | $1,053,293,357 |
Delta Dental Of Pennsylvania Mechanicsburg, PA | $366,035,375 | $859,869,165 |
Steelworkers Health & Welfare Fund Pittsburgh, PA | $75,759,538 | $820,594,262 |
National Rural Electric Cooperative Arlington, VA | $760,805,496 | $725,806,986 |
Delta Dental Of New York Inc Mechanicsburg, PA | $210,272,020 | $733,013,009 |
Chs Community Health Systems Inc Veba Trust Franklin, TN | $6,362 | $692,904,149 |
Gbu Financial Life Pittsburgh, PA | $3,781,723,351 | $647,407,741 |
Board Of Education Of Montgomery County Employee Benefit Trust Fund Rockville, MD | $76,472,586 | $526,148,010 |
National Railway Carriers & United Trans Union Health & Welfare Plan Arlington, VA | $135,864,986 | $500,082,004 |
Neca Ibew Family Medical Care Tr Fund Rockville, MD | $797,485,688 | $708,443,859 |
North Carolina Teachers And State Employees Benefit Trust Raleigh, NC | $0 | $42,228,301 |
Geico Corporation Welfare Plans Trust Pittsburgh, PA | $29,323,735 | $483,700,249 |