Million Dollar Round Table
- Assets
- $136.9m
- Revenue
- $60.7m
- Investments
- $26.9m
- Employees
- 141
- Location
- Park Ridge, IL
- Founding
- 09/1969
- Data as of
- 12/2022
- EIN
- 36-2138427
Organization Overview
Million Dollar Round Table 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 12/2022, Million Dollar Round Table employed 141 individuals. This organization is the central organization for a national or regional group of organizations. Million Dollar Round Table 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 12/2022, Million Dollar Round Table generated $60.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 7.1% each year. All expenses for the organization totaled $66.3m during the year ending 12/2022. While expenses have increased by 11.5% 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.
Since 2014, Million Dollar Round Table has awarded 23 individual grants totaling $6,989,732. 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
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 2022, MDRT RESUMED ON SITE EVENTS TO ENGAGE AUDIENCES. THESE MEETINGS WERE ATTENDED BY OVER 10,000 INSURANCE AND FINANCIAL SERVICES PROFESSIONALS.
MDRT HOSTS MEETINGS PROGRAMMED WITH EDUCATIONAL AND MOTIVATIONAL CONTENT DESIGNED TO BENEFIT THE CAREERS OF INSURANCE AND FINANCIAL SERVICES PROFESSIONALS. DURING 2022, MDRT RESUMED ON SITE EVENTS TO ENGAGE AUDIENCES. THESE MEETINGS WERE ATTENDED BY OVER 10,000 INSURANCE AND FINANCIAL SERVICES PROFESSIONALS.
MDRT PUBLISHES A BI-MONTHLY PERIODICAL THAT CONCENTRATES ON TRENDS AND OPPORTUNITIES SPECIFIC TO THE FINANCIAL SERVICES PROFESSION.
MDRT 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.
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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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ian Green Past President | OfficerTrustee | 5 | $29,720 |
Randy Scritchfield Past President | OfficerTrustee | 10 | $49,980 |
Peggy Tsai President | OfficerTrustee | 5 | $52,680 |
Greg Gagne 1st Vice President | OfficerTrustee | 5 | $47,280 |
Carol Kheng 2nd Vice President | OfficerTrustee | 5 | $44,580 |
John Nichols Secretary | OfficerTrustee | 5 | $14,860 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Elk Grove Graphics Printing Of Application Forms, Advertisi | 12/30/22 | $322,650 |
Sikich Llp It Consulting | 12/30/22 | $240,115 |
Speaker Exchange Agency Llc Conference Speakers | 12/30/22 | $202,316 |
Meeting Play Llc Virtual Conference Platform | 12/30/22 | $172,181 |
Jenner & Block Llp Legal | 12/30/22 | $115,238 |
Elk Grove Graphics Printing Of Application Forms, Advertisi | 12/30/22 | $322,650 |
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 | $60,993,533 |
| Investment income | $2,018,535 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$2,987,238 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $564,420 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $60,723,868 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $338,228 |
| 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. | $1,589,610 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $11,574,430 |
| Pension plan accruals and contributions | $1,400,236 |
| Other employee benefits | $2,788,378 |
| Payroll taxes | $881,319 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $265,003 |
| Fees for services: Accounting | $68,838 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $495,945 |
| Fees for services: Other | $4,546,709 |
| Advertising and promotion | $2,223,308 |
| Office expenses | $1,101,404 |
| Information technology | $9,196,163 |
| Royalties | $0 |
| Occupancy | $449,236 |
| Travel | $1,545,338 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,524,509 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $344,848 |
| All other expenses | $1,944,591 |
| Total functional expenses | $66,256,825 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $73,252,422 |
| Savings and temporary cash investments | $44,266,287 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $735,634 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $319,888 |
| Prepaid expenses and deferred charges | $938,180 |
| Net Land, buildings, and equipment | $265,000 |
| Investments—publicly traded securities | $54,301,020 |
| Investments—other securities | $26,887,251 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,222,357 |
| Total assets | $136,935,617 |
| Accounts payable and accrued expenses | $6,303,397 |
| Grants payable | $0 |
| Deferred revenue | $3,829,291 |
| 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 | $7,570,656 |
| Total liabilities | $17,703,344 |
| Net assets without donor restrictions | $119,232,273 |
| 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 | $136,935,617 |
Grants Awarded
Over the last fiscal year, Million Dollar Round Table has awarded $647,686 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
MDRT FOUNDATION PURPOSE: GRANTS TO OTHER CHARITABLE ORGANIZATIONS | $313,843 |
ASAE FOUNDATION PURPOSE: CONTRIBUTIONS | $10,000 |
MDRT FOUNDATION PURPOSE: GRANTS TO OTHER CHARITABLE ORGANIZATIONS | $313,843 |
ASAE FOUNDATION PURPOSE: CONTRIBUTIONS | $10,000 |