Institutional Longevty Markets Association Inc
- Assets
- $165.9k
- Revenue
- $218.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Washington, DC
- Founding
- 12/2007
- Data as of
- 12/2022
- EIN
- 20-8769162
Organization Overview
Institutional Longevty Markets Association Inc is located in Washington, DC. The organization was established in 2007. 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. Institutional Longevty Markets Association Inc 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, Institutional Longevty Markets Association Inc generated $218.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (9.2%) each year. All expenses for the organization totaled $311.5k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (5.1%) per year over the past 7 years. 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 ORGANIZATION'S MISSION IS TO EXPAND AND APPLY CAPITAL MARKET SOLUTIONS IN LIFE INSURANCE, EDUCATE CONSUMERS THAT THEIR INSURANCE MAY BE A VALUABLE ASSET, (CONTINUED)
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEETINGS TO DISCUSS REGULATORY ISSUES. ILMA MEETS REGULARLY TO DISCUSS EXISTING AND PROPOSED REGULATORY ISSUES IN CONNECTION WITH THE LONGEVITY AND MORTALITY MARKETPLACE. REGULATORY ISSUES INCLUDE STATE AND FEDERAL LEGISLATION, PROPOSED MODEL ACTS AND RELATED MATERIALS. THESE MEETINGS ARE HELD TO FURTHER ILMA'S STATED ORGANIZATIONAL PURPOSE OF EDUCATING MARKET PARTICIPANTS ON REGULATORY DEVELOPMENTS AFFECTING THE BUSINESSES OF LIFE SETTLEMENTS. APPROXIMATELY FIFTY PERCENT (50%) OF ILMA'S TIME IS SPENT PARTICIPATING IN THESE MEETINGS. THE MEETINGS TAKE PLACE MONTHLY AND ALL ILMA MEMBERS ARE INVITED TO ATTEND.
DEVELOPMENT OF FORM DOCUMENTATION. ILMA HAS CREATED A "LEGAL AND REGULATORY MATTERS" SUBCOMMITTEE. AMONG OTHER THINGS, THIS SUBCOMMITTEE SEEKS TO INCREASE TRANSPARENCY AND DISCLOSURE IN TRANSACTION DOCUMENTS. SUBCOMMITTEE WORK PRODUCT WILL BE SUBMITTED TO ILMA'S BOARD OF DIRECTORS FOR FINAL APPROVAL. APPROXIMATELY TWENTY-FIVE PERCENT (25%) OF ILMA'S TIME IS SPENT ON THE DEVELOPMENT OF FORM DOCUMENTATION. THE SUBCOMMITTEE MEETS MONTHLY AND ALL ILMA MEMBERS ARE INVITED TO ATTEND.
THE ILMA CONFERENCE IS A ONE-DAY EVENT WITH AN INVESTMENT FOCUS AND IN-DEPTH COVERAGE OF THE LONGEVITY MARKET. THE TOPICS DISCUSSED ARE LIFE SETTLEMENTS, GLOBAL PENSION PLANS, INSURANCE RESERVES AND REVERSE MORTGAGES AS ALTERNATIVE INVESTMENTS. THERE ARE AN ESTIMATED 90 ATTENDEES ANNUALLY. APPROXIMATELY TWENTY PERCENT (20%) OF ILMA'S TIME IS SPENT ON THE PLANNING OF THE CONFERENCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Shana Murray Director | Trustee | 1 | $0 |
John Kelly Managing Director | OfficerTrustee | 1 | $0 |
Mike Fasano Director | Trustee | 1 | $0 |
Dan Young Director | Trustee | 1 | $0 |
Robert Bockrath Director | Trustee | 1 | $0 |
William Corry Chairman | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Shulte Roth Zabel Llp Legal Services | 12/30/22 | $75,000 |
Pillsbury Winthrop Shaw Pittman Legal Services | 12/30/22 | $100,106 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $194,665 |
| 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 | $194,665 |
| Total Program Service Revenue | $24,037 |
| 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 | $218,702 |
| 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 | $0 |
| Fees for services: Legal | $183,586 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,600 |
| Office expenses | $0 |
| Information technology | $0 |
| 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 | $3,605 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $311,473 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $109,980 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $55,945 |
| 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 | $0 |
| 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 | $165,925 |
| Accounts payable and accrued expenses | $100,000 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $100,000 |
| Net assets without donor restrictions | $0 |
| 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 | $65,925 |
| Total liabilities and net assets/fund balances | $165,925 |