Risk Management Foundation
- Assets
- $23.0m
- Revenue
- $4.9m
- Investments
- $971.0k
- Employees
- 5
- Location
- Evanston, IL
- Founding
- 05/1990
- Data as of
- 07/2021
- EIN
- 36-3579508
Organization Overview
Risk Management Foundation is located in Evanston, IL. The organization was established in 1990. As of 07/2021, Risk Management Foundation employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Risk Management Foundation 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 07/2021, Risk Management Foundation generated $4.9m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 1.9% each year. All expenses for the organization totaled $3.3m during the year ending 07/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
RISK MANAGEMENT FOUNDATION (RMF) IS A NOT-FOR-PROFIT 501(C)(3) EDUCATIONAL FOUNDATION ESTABLISHED TO EDUCATE CHAPTERS AND HOUSE CORPORATIONS OF SIGMA CHI FRATERNITY ABOUT RISK MANAGEMENT AND PROVIDE AID IN TIMES OF LOSS.
Describe the Organization's Program Activity:
RMF PROVIDES EXTENSIVE EDUCATIONAL PROGRAMMING AND MATERIALS ABOUT RISK MANAGEMENT TO ITS MEMBERSHIP AND OTHER INTERESTED PARTIES. RISKWATCH EDUCATIONAL INITIATIVES INCLUDE AN E-NEWSLETTER (DISTRIBUTION OF 3,000), ELECTRONIC RISK MANAGEMENT ALERTS, LOCAL AND INTERNATIONAL EDUCATIONAL SEMINARS, SCHOLARSHIPS, AND ONE-ON-ONE ASSESSMENT AND REVIEW OF MEMBER RISK MANAGEMENT PLANS AND/OR INITIATIVES. THE RISKWATCH PROGRAM HAS WON SEVERAL AWARDS FOR ITS EXCELLENCE IN COMMUNICATING RISK MANAGEMENT PRACTICES TO UNDERGRADUATES. RMF PROVIDES RISK MANAGEMENT EDUCATION AND RELATED SERVICES TO ITS MEMBERS. ANY CHAPTER OF SIGMA CHI FRATERNITY AND ANY HOUSE CORPORATION HOLDING TITLE TO OR MANAGING PROPERTY FOR THE BENEFIT OF A SIGMA CHI CHAPTER IS ELIGIBLE FOR MEMBERSHIP. RMF PROVIDES ACCESS TO INSURANCE COVERAGE FOR ITS SUBSCRIBING MEMBERS BY THE PURCHASE OF INSURANCE POLICIES THROUGH AN AFFILIATED BROKER. TODAY, 97% OF SIGMA CHI'S CHAPTERS ARE SUBSCRIBING MEMBERS OF RMF, INSURING OVER 15,000 BROTHERS AND $250 MILLION IN PROPERTY VALUE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Board Member | Trustee | 5 | $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 | $3,510,147 |
| Investment income | $490,431 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $731,008 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,889,541 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $585,753 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $1,254,547 |
| Compensation of current officers, directors, key employees. | $116,495 |
| Compensation of current officers, directors, key employees. | $5,824 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $292,161 |
| Pension plan accruals and contributions | $20,624 |
| Other employee benefits | $11,747 |
| Payroll taxes | $19,039 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,087 |
| Fees for services: Accounting | $33,438 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $42,595 |
| Fees for services: Other | $58,244 |
| Advertising and promotion | $3,850 |
| Office expenses | $60,357 |
| Information technology | $61,012 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $8,077 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,631 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,281 |
| Total functional expenses | $3,317,139 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $9,644 |
| Savings and temporary cash investments | $200,557 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $6,769 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $78,638 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,392 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $19,900,381 |
| Investments—other securities | $970,970 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,843,773 |
| Total assets | $23,021,124 |
| Accounts payable and accrued expenses | $121,621 |
| Grants payable | $240,000 |
| Deferred revenue | $30,778 |
| 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 | $3,387,663 |
| Total liabilities | $3,780,062 |
| Net assets without donor restrictions | $19,241,062 |
| 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 | $23,021,124 |
Grants Awarded
Over the last fiscal year, Risk Management Foundation has awarded $585,753 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Evanston, IL PURPOSE: TO CONDUCT PROPERTY SAFETY INSPECTIONS AND LIFE SAFETY CONSULTATIONS FOR RMF-MEMBER PROPERTIES | $312,000 |
Evanston, IL PURPOSE: RISK MANAGEMENT EDUCATION FOR UGS AND ADVISORS | $273,753 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Botsford Continuing Care Corporation Southfield, MI | $28,554,348 | $16,692,642 |
Chicot Memorial Medical Center Lake Village, AR | $20,694,512 | $22,104,345 |
Virginia Mennonite Home Inc Harrisonburg, VA | $28,962,463 | $20,540,544 |
St Francis Medical Center Breckenridge, MN | $127,422,671 | $26,046,876 |
Aca-Cleveland Area Hospital Cleveland, OK | $13,002,465 | $20,101,760 |
Memorial Professional Services Ltd Toledo, OH | $7,092,437 | $15,080,612 |
Midmichigan Health Services Houghton Lake, MI | $14,679,039 | $20,215,598 |
Borgess Health Alliance Inc St Louis, MO | $46,781,570 | $6,896,966 |
Virginia Home Richmond, VA | $132,722,142 | $34,605,321 |
Illinois Primary Health Care Association Springfield, IL | $11,577,545 | $20,459,063 |
Covenant Homecare Knoxville, TN | $2,451,607 | $17,855,047 |
American Health Foundation Inc Dublin, OH | $18,460,178 | $15,917,114 |