Minnesota Chapter Of The Risk Management Association
- Assets
- $236.1k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Golden Valley, MN
- Founding
- 02/2019
- Data as of
- 08/2022
- EIN
- 82-2999422
Organization Overview
Minnesota Chapter Of The Risk Management Association is located in Golden Valley, MN. The organization was established in 2019. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, 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. Minnesota Chapter Of The 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 08/2022, Minnesota Chapter Of The Risk Management Association generated $115.0k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (5.0%) each year. All expenses for the organization totaled $119.9k during the year ending 08/2022. As we would expect to see with falling revenues, expenses have declined by (4.2%) per year over the past 4 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2022
Describe the Organization's Program Activity:
Part 3
TO ADVANCE SOUND RISK PRINCIPLES IN THE FINANCIAL SERVICES INDUSTRY TO IMPROVE INSTITUTIONAL PERFORMANCE AND FINANCIAL STABILITY, AS WELL AS ENHANCE THE RISK COMPETENCY OF INDIVIDUALS THROUGH INFORMATION, EDUCATION, PEER SHARING, AND NETWORKING. EACH YEAR THE RMA MINNESOTA CHAPTER OFFERS THE COMMERCIAL LENDING ACADEMY. SINCE THE PROGRAM'S INCEPTION, OVER 300 LENDERS, CREDIT ANALYSTS AND FINANCIAL INDUSTRY PROFESSIONALS FROM MORE THAN 65 INSTITUTIONS IN THE MIDWEST HAVE GRADUATED FROM THE ACADEMY. OUR PROGRAM PROVIDES A COMPREHENSIVE OVERVIEW TO THE VARIOUS ASPECTS OF THE COMMERCIAL LOAN UNDERWRITING AND MANAGEMENT PROCESS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Andy Disch Director | 1 | $0 | |
Todd Sharkey President | 1 | $0 | |
Paul Draper Director | 1 | $0 | |
Brett Lawrence Director | 1 | $0 | |
Paula Williams Treasurer | 1 | $0 | |
Julie Klein Director | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $80,421 |
| Membership dues | $34,528 |
| Investment income | $36 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $114,985 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $6,340 |
| Occupancy, rent, utilities, and maintenance | $2,769 |
| Printing, publications, postage, and shipping | $451 |
| Other expenses | $110,361 |
| Total expenses | $119,921 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $235,339 |
| Other assets | $0 |
| Total assets | $236,113 |
| Total liabilities | $33,216 |
| Net assets or fund balances | $202,897 |
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