Society Of Actuaries
- Assets
- $47.3m
- Revenue
- -$117.5k
- Investments
- $7.6m
- Employees
- 227
- Location
- Schaumburg, IL
- Founding
- 11/1952
- Data as of
- 12/2022
- EIN
- 36-2136422
Organization Overview
Society Of Actuaries is located in Schaumburg, IL. The organization was established in 1952. According to its NTEE Classification (Y03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2022, Society Of Actuaries employed 227 individuals. This organization is the central organization for a national or regional group of organizations. Society Of Actuaries is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Since 2015, Society Of Actuaries has awarded 267 individual grants totaling $14,897,883. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
EMPHASIZES THE SKILLSET AND THOUGHT LEADERSHIP OF ACTUARIES, AND HELPS PROVIDE (SEE SCHEDULE O) INSIGHTS TO MEMBERS, BUSINESSES, OTHER STAKEHOLDERS AND THE PUBLIC ON SOCIALLY RELEVANT TOPICS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOA RI SERVES AN IMPORTANT PUBLIC AND SOCIETAL SERVICE BY PROVIDING A VALUABLE CONTRIBUTION TO THE BODY OF KNOWLEDGE IN THE VARIOUS AREAS OF ACTUARIAL SCIENCE. THIS INCLUDES (BUT IS NOT LIMITED TO) LEADING-EDGE RESEARCH ON AGING AND RETIREMENT, ACTUARIAL INNOVATION AND TECHNOLOGY, MORTALITY AND LONGEVITY, DIVERSITY, EQUITY AND INCLUSION, HEALTH CARE COST TRENDS, AND CATASTROPHE AND CLIMATE. SOA RI ALSO IS THE LEADING PROVIDER OF EXPERIENCE STUDIES, WHICH ARE WIDELY USED BY ACTUARIES TO DEVELOP FINANCIALLY SECURE INSURANCE SYSTEMS. MANY OUTPUTS OF SOA RI RESEARCH ARE ALSO REFERENCED BY POLICYMAKERS FOR VALUABLE BACKGROUND AND INSIGHT AS THEY DEVELOP LEGISLATION TO MEET PUBLIC NEEDS IN RELEVANT AREAS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jennifer Gillespie President & Chair | OfficerTrustee | 1 | $0 |
Roy Goldman Past President | OfficerTrustee | 1 | $0 |
Lisa Kuklinski Secretary/treasurer | OfficerTrustee | 1 | $0 |
John Robinson President & Chair | OfficerTrustee | 1 | $0 |
Tim Rozar President-Elect & Vice-Chair | OfficerTrustee | 1 | $0 |
Ying Zhao Secretary/treasurer | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Risk & Regulatory Consulting Llc Researcher | 12/30/22 | $141,796 |
Milliman Inc Consultant | 12/30/22 | $148,500 |
Mib Inc Underwriting Services | 12/30/22 | $141,246 |
Rjh Integrated Solutions Llc Consultant | 12/30/22 | $114,829 |
Mathew Greenwald & Associates Researcher | 12/30/22 | $111,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $288,975 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $98,533 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $387,508 |
| Total Program Service Revenue | $3,650 |
| Investment income | $1,268,204 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,776,890 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$117,528 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,589,852 |
| Grants and other assistance to domestic individuals. | $108,609 |
| Grants and other assistance to Foreign Orgs/Individuals | $159,787 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $439,498 |
| Compensation of current officers, directors, key employees. | $47,885 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,941,256 |
| Pension plan accruals and contributions | $338,076 |
| Other employee benefits | $287,957 |
| Payroll taxes | $258,628 |
| 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 | $770,729 |
| Advertising and promotion | $396,976 |
| Office expenses | $40,783 |
| Information technology | $449,954 |
| Royalties | $0 |
| Occupancy | $181,315 |
| Travel | $125,288 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $85,091 |
| Insurance | $38,952 |
| All other expenses | $4,728 |
| Total functional expenses | $8,244,591 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,713,663 |
| Savings and temporary cash investments | $764,599 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $626,087 |
| 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 | $36,911 |
| Net Land, buildings, and equipment | $605,182 |
| Investments—publicly traded securities | $35,138,148 |
| Investments—other securities | $7,580,628 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $871,295 |
| Total assets | $47,336,513 |
| Accounts payable and accrued expenses | $1,403,977 |
| Grants payable | $0 |
| Deferred revenue | $103,893 |
| 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 | $4,373,181 |
| Total liabilities | $5,881,051 |
| Net assets without donor restrictions | $41,455,462 |
| 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 | $47,336,513 |
Grants Awarded
Over the last fiscal year, Society Of Actuaries has awarded $1,522,698 in support to 32 organizations.
| Grant Recipient | Amount |
|---|---|
ACTUARIAL RESEARCH CORPORATION PURPOSE: RESEARCH GRANT | $13,000 |
ARIZONA STATE UNIVERSITY PURPOSE: RESEARCH GRANT | $39,840 |
AXENE HEALTH PARTNERS LLC PURPOSE: RESEARCH GRANT | $75,000 |
BOARD OF REGENTS U OF WISC SYSTEM PURPOSE: RESEARCH GRANT | $33,750 |
BREAKTHROUGH DEVELOPMENT CO PURPOSE: RESEARCH GRANT | $10,000 |
C & R RESEARCH PURPOSE: RESEARCH GRANT | $42,933 |