Weather Risk Management Association
- Assets
- $238.8k
- Revenue
- $260.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 08/2000
- Data as of
- 12/2023
- EIN
- 52-2181249
Organization Overview
Weather Risk Management Association is located in Minneapolis, MN. The organization was established in 2000. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Weather Risk Management Association 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 12/2023, Weather Risk Management Association generated $260.7k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.9% each year. All expenses for the organization totaled $215.4k during the year ending 12/2023. While expenses have increased by 1.3% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE & ADVANCE THE INDUSTRY OF WEATHER RISK MANAGEMENT; TO EDUCATE ALL MEMBERS & KEEP THE INDUSTRY STRONG & VIABLE; TO PROVIDE A FORUM WHERE MEMBERS & OTHERS MAY MEET & DISCUSS OPPORTUNITIES, TOPICS & ISSUES WITHIN THE INDUSTRY; & TO PROMOTE THE UNDERSTANDING OF SOUND BUSINESS PRACTICES & SUPPORT THE COMMON INTEREST OF THE MEMBERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2023 WRMA RESUMED THEIR IN PERSON MEETINGS. THEY HAD TWO IN PERSON MEETINGS, ONE IN SYDNEY AUSTRALIA & ANOTHER IN EUROPE. BOTH MEETINGS HAD AN EDUCATIONAL COMPONENT & NETWORKING OPPORTUNITIES. BOTH MEETINGS HAD BETWEEN 75-100 ATTENDEES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Whitehead President | OfficerTrustee | 16 | $0 |
Marcel-Steffen Reif Vice President | OfficerTrustee | 8 | $0 |
Malvern Chirume Sec/treasurer | OfficerTrustee | 6 | $0 |
Claire Wilkinson Past President | OfficerTrustee | 12 | $0 |
Luca Pontecorvi Director | Trustee | 6 | $0 |
Paul Ramiz Director | Trustee | 6 | $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 | $260,742 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $260,742 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $116,726 |
| Fees for services: Legal | $110 |
| Fees for services: Accounting | $635 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,688 |
| Advertising and promotion | $0 |
| Office expenses | $10,862 |
| Information technology | $3,890 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $75,317 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $2,209 |
| All other expenses | $0 |
| Total functional expenses | $215,437 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $215,217 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $23,575 |
| 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 | $31 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $238,823 |
| Accounts payable and accrued expenses | $11,679 |
| Grants payable | $0 |
| Deferred revenue | $41,000 |
| 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 | $0 |
| Total liabilities | $52,679 |
| Net assets without donor restrictions | $186,144 |
| 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 | $238,823 |