Million Dollar Round Table Of The Natl Assn Of Life Underwriters
- Assets
- $156.8m
- Revenue
- $77.5m
- Investments
- $29.0m
- Employees
- 131
- Location
- Park Ridge, IL
- Founding
- 09/1969
- Data as of
- 12/2021
- EIN
- 36-2138427
Organization Overview
Million Dollar Round Table Of The Natl Assn Of Life Underwriters is located in Park Ridge, IL. The organization was established in 1969. 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 12/2021, Million Dollar Round Table Of The Natl Assn Of Life Underwriters employed 131 individuals. This organization is the central organization for a national or regional group of organizations. Million Dollar Round Table Of The Natl Assn Of Life Underwriters 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, Million Dollar Round Table Of The Natl Assn Of Life Underwriters generated $77.5m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 12.0% each year . All expenses for the organization totaled $53.5m during the year ending 12/2021. While expenses have increased by 9.8% per year over the past 7 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, Million Dollar Round Table Of The Natl Assn Of Life Underwriters has awarded 17 individual grants totaling $5,214,546. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF THE MILLION DOLLAR ROUND TABLE (MDRT) IS TO BE A VALUED MEMBER-DRIVEN GLOBAL NETWORK OF LEADING INSURANCE AND INVESTMENT FINANCIAL SERVICE PROFESSIONALS WHO SERVE THEIR CLIENTS BY EXEMPLARY PERFORMANCE AND THE HIGHEST STANDARD OF ETHICS, KNOWLEDGE, SERVICE, AND PRODUCTIVITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MDRT HOSTS MEETINGS PROGRAMMED WITH EDUCATIONAL AND MOTIVATIONAL CONTENT DESIGNED TO BENEFIT THE CAREERS OF INSURANCE AND FINANCIAL SERVICES PROFESSIONALS. DURING 2021, MDRT HELD BOTH ON SITE AND VIRTUAL EVENTS TO ENGAGE AUDIENCES DURING TRAVEL AND COVID RESTRICTED PERIODS. THESE MEETINGS WERE ATTENDED BY OVER 15,000 INSURANCE AND FINANCIAL SERVICES PROFESSIONALS.
MDRT PUBLISHES A BI-MONTHLY PERIODICAL THAT CONCENTRATES ON TRENDS AND OPPORTUNITIES SPECIFIC TO THE FINANCIAL SERVICES PROFESSION.
MDRT PROVIDES DIGITAL CONTENT THAT IS HOUSED ON ITS RESOURCE ZONE. THIS INCLUDES MDRT PODCASTS, VIDEOS, MEETING TRANSCRIPTS AND THE MDRT BLOG.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Stephen Stahr CEO | Officer | 50 | $720,400 |
Barbara O'connor Managing Director | 40 | $291,288 | |
Smruti Rajagopalan Senior Director, Strategy | 50 | $280,058 | |
Mark Leon Senior Director, Finance | 40 | $271,011 | |
Laura Good Senior Director, Hr | 40 | $246,844 | |
James Unander Senior Director, It | 50 | $243,976 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Meeting Play Llc Virtual Conference Platform | 12/30/21 | $995,745 |
Chronus Llc Mentoring Program Software | 12/30/21 | $138,250 |
Ellen Moore Development Organizational Development Services | 12/30/21 | $115,274 |
Jenner & Block Llp Legal Services | 12/30/21 | $200,901 |
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 | $57,935,801 |
| Investment income | $2,477,453 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $16,452,819 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $506,606 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $77,496,799 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $870,332 |
| 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. | $1,695,714 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,929,628 |
| Pension plan accruals and contributions | $1,358,220 |
| Other employee benefits | $3,015,217 |
| Payroll taxes | $856,817 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $190,520 |
| Fees for services: Accounting | $63,469 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $666,617 |
| Fees for services: Other | $1,850,582 |
| Advertising and promotion | $2,096,184 |
| Office expenses | $869,522 |
| Information technology | $10,670,521 |
| Royalties | $0 |
| Occupancy | $543,555 |
| Travel | $45,035 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,363,063 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $242,439 |
| All other expenses | $2,002,855 |
| Total functional expenses | $53,477,385 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $50,282,318 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $32,049 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $391,335 |
| Prepaid expenses and deferred charges | $1,464,275 |
| Net Land, buildings, and equipment | $265,000 |
| Investments—publicly traded securities | $70,051,524 |
| Investments—other securities | $29,032,614 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $5,272,211 |
| Total assets | $156,791,326 |
| Accounts payable and accrued expenses | $4,543,031 |
| Grants payable | $0 |
| Deferred revenue | $3,393,281 |
| 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 | $16,485,519 |
| Total liabilities | $24,421,831 |
| Net assets without donor restrictions | $132,369,495 |
| 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 | $156,791,326 |
Grants Awarded
Over the last fiscal year, Million Dollar Round Table Of The Natl Assn Of Life Underwriters has awarded $858,528 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Arlington, VA PURPOSE: GRANT FOR GENERAL OPERATIONS | $500,000 |
Park Ridge, IL PURPOSE: GRANTS TO OTHER CHARITABLE ORGANIZATIONS AND MDRT MATCH FOR MDRT FOUNDATION GRANT TO TEAM RUBICON IN SUPPORT OF ERRFOTS TO HELP THE BAHAMAS FOLLOWING HURRICANE DORIAN | $336,528 |
Washington, DC PURPOSE: GRANT FOR GENERAL OPERATIONS AND LEADERSHIP SOCIETY CONTRIBUTIONS | $22,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Million Dollar Round Table Of The Natl Assn Of Life Underwriters Park Ridge, IL | $156,791,326 | $77,496,799 |
National Insurance Producer Registry Kansas City, MO | $99,208,437 | $64,623,516 |
American Association Of Insurance Services Lisle, IL | $23,041,835 | $21,784,346 |
Directemployers Association Inc Indianapolis, IN | $10,667,744 | $15,212,519 |
Society Of Actuaries Schaumburg, IL | $66,013,531 | $3,256,481 |
National Conference Of Insurance Indianapolis, IN | $4,600,811 | $4,069,292 |
Missouri Association Of Insurance Agents Jefferson City, MO | $5,920,618 | $1,409,542 |
Professional Insurance Marketing Association Inc Chicago, IL | $872,807 | $772,491 |
National Equipment Finance Association Inc Northbrook, IL | $1,993,686 | $820,325 |
Soy Aquaculture Alliance Inc Ankeny, IA | $540,903 | $433,856 |
Mutual Insurance Association Of Iowa Janesville, IA | $697,921 | $349,100 |
Chicago Chapter Of China General Chamber Of Commerce - Usa Chicago, IL | $491,758 | $373,411 |