American Academy Of Actuaries
- Assets
- $33.9m
- Revenue
- $14.6m
- Investments
- $0.0
- Employees
- 50
- Location
- Washington, DC
- Founding
- 11/1966
- Data as of
- 12/2022
- EIN
- 36-6142798
Organization Overview
American Academy Of Actuaries is located in Washington, DC. The organization was established in 1966. According to its NTEE Classification (B20) the organization is classified as: Elementary & Secondary Schools, under the broad grouping of Education and related organizations. As of 12/2022, American Academy Of Actuaries employed 50 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Academy Of Actuaries 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, American Academy Of Actuaries generated $14.6m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $13.6m during the year ending 12/2022. While expenses have increased by 0.3% per year over the past 5 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ACADEMY'S MISSION IS TO SERVE THE PUBLIC AND THE UNITED STATES ACTUARIAL PROFESSION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED INDEPENDENT AND OBJECTIVE ACTUARIAL INFORMATION ANALYSIS AND EDUCATION FOR THE FORMATION OF PUBLIC POLICY; IDENTIFIED AND ADDRESSED ISSUES ON BEHALF OF THE PUBLIC IN MATTERS WHERE ACTUARIAL SCIENCE PROVIDED AN UNDERSTANDING; INCREASED THE PUBLIC'S UNDERSTANDING AND RECOGNITION OF THE VALUE OF THE ACTUARIAL PROFESSION; FACILITATED AND COORDINATED ISSUES OF COMMON INTEREST AMONG THE U.S.-BASED ACTUARIAL ACTUARIAL ASSOCIATIONS; AND COORDINATED THE REPRESENTATION OF THE U.S. PROFESSION GLOBALLY.
ESTABLISHED AND IMPROVED STANDARDS OF ACTUARIAL PRACTICE. THESE ACTUARIAL STANDARDS OF PRACTICE ASOPS IDENTIFY WHAT THE ACTUARY SHOULD CONSIDER DOCUMENT AND DISCLOSE WHEN PERFORMING AN ACTUARIAL ASSIGNMENT. SET STANDARDS FOR APPROPRIATE PRACTICE IN THE UNITED STATES.
STRENGTHENED MEMBERS' ADHERENCE TO THE RECOGNIZED STANDARDS OF ETHICAL AND PROFESSIONAL CONDUCT. RESPONDED TO ACTUARIES' REQUEST FOR GUIDANCE ON PROFESSIONAL ISSUES AND CONSIDERED COMPLAINTS ABOUT POSSIBLE VIOLATIONS OF THE ACTUARIAL CODES OF PROFESSIONAL CONDUCT AND CONDUCTED EDUCATIONAL OUTREACH EFFORTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Ken Kent President | OfficerTrustee | 1 | $0 |
Lisa Slotznick President - Elect | OfficerTrustee | 1 | $0 |
Maryellen Coggins Immediate Past President | Trustee | 1 | $0 |
Tom Campbell Penultimate President | Trustee | 1 | $0 |
Cathy Murphy Barron To 1132022 Secretary Treasurer | OfficerTrustee | 1 | $0 |
Lauren Cavanuagh To 11032022 VP Casualty | OfficerTrustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Bennett Enterprises Llc Consulting | 12/30/22 | $266,717 |
Actuarialworx Llc Consulting | 12/30/22 | $242,995 |
Linda K Stone Consulting | 12/30/22 | $271,432 |
Hogan Lovells Us Llp Legal Services | 12/30/22 | $249,690 |
Cori E Uccello Consulting | 12/30/22 | $296,240 |
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 | $13,966,641 |
| Investment income | $740,594 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$351,830 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,614,904 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $128,000 |
| 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. | $2,292,668 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,260,485 |
| Pension plan accruals and contributions | $457,533 |
| Other employee benefits | $367,899 |
| Payroll taxes | $410,163 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $110,436 |
| Fees for services: Accounting | $53,668 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $835,408 |
| Advertising and promotion | $0 |
| Office expenses | $220,975 |
| Information technology | $248,328 |
| Royalties | $0 |
| Occupancy | $920,155 |
| Travel | $289,437 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $767,693 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $154,869 |
| Insurance | $124,530 |
| All other expenses | $1,492,793 |
| Total functional expenses | $13,556,184 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,737,022 |
| Savings and temporary cash investments | $3,692,616 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $500,941 |
| 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 | $290,028 |
| Net Land, buildings, and equipment | $742,492 |
| Investments—publicly traded securities | $18,832,997 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $5,017,402 |
| Other assets | $104,614 |
| Total assets | $33,918,112 |
| Accounts payable and accrued expenses | $1,319,285 |
| Grants payable | $0 |
| Deferred revenue | $8,382,445 |
| 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 | $6,531,347 |
| Total liabilities | $16,233,077 |
| Net assets without donor restrictions | $17,685,035 |
| 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 | $33,918,112 |