Risk Management Association
- Assets
- $43.4m
- Revenue
- $29.3m
- Investments
- $0.0
- Employees
- 110
- Location
- Philadelphia, PA
- Founding
- 06/1934
- Data as of
- 08/2023
- EIN
- 23-0892360
Organization Overview
Risk Management Association is located in Philadelphia, PA. The organization was established in 1934. According to its NTEE Classification (W03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Public & Societal Benefit and related organizations. As of 08/2023, Risk Management Association employed 110 individuals. This organization is the central organization for a national or regional group of organizations. 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 08/2023, Risk Management Association generated $29.3m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $31.8m during the year ending 08/2023. While expenses have increased by 3.3% per year over the past 8 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
RMA IS A MEMBER-DRIVEN PROFESSIONAL ASSOCIATION WHOSE SOLE PURPOSE IS TO ADVANCE SOUND RISK PRINCIPLES IN THE FINANCIAL SERVICES INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WEB-BASED TRAINING PRODUCTS
TRAINING EVENTS - SEMINARS SPONSORED AT VARIOUS DOMESTIC AND INTERNATIONAL LOCATIONS THROUGHOUT THE YEAR
CONFERENCES AND ROUND TABLES - CREDIT RISK, OPERATIONAL RISK, MARKET RISK, ENTERPRISE RISK AND SECURITIES LENDING CONFERENCES AND PEER SHARING MEETINS HELD EACH YEAR
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amanda Norton Director | Trustee | 2 | $0 |
Avani Parekh Ex Officio Director | Trustee | 2 | $0 |
Carol Severyn Ex Officio Director | Trustee | 2 | $0 |
Crystal Humphreys Ex Officio Director | Trustee | 2 | $0 |
George Buchanan Director | Trustee | 2 | $0 |
Graeme Hepworth Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Kevin D Oden & Associates Llc Consulting Services | 8/30/23 | $1,787,506 |
Debevoise & Plimpton Llp Consulting Services | 8/30/23 | $455,513 |
Joseph G Newberry Consulting Services | 8/30/23 | $198,625 |
Mica Consulting Group Llc Consulting Services | 8/30/23 | $126,250 |
Finance International Group Consulting Services | 8/30/23 | $109,600 |
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 | $28,596,449 |
| Investment income | $701,321 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,544 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,308,314 |
| 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. | $4,803,840 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $10,939,581 |
| Pension plan accruals and contributions | $54,534 |
| Other employee benefits | $787,368 |
| Payroll taxes | $801,911 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $21,467 |
| Fees for services: Accounting | $149,351 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $86,069 |
| Fees for services: Other | $5,812,849 |
| Advertising and promotion | $277,383 |
| Office expenses | $719,103 |
| Information technology | $2,430,688 |
| Royalties | $0 |
| Occupancy | $314,869 |
| Travel | $624,096 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,012,151 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $569,987 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $31,834,387 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,493,013 |
| Savings and temporary cash investments | $43,434 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,270,643 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $7,904 |
| Prepaid expenses and deferred charges | $1,252,940 |
| Net Land, buildings, and equipment | $2,420,162 |
| Investments—publicly traded securities | $32,133,185 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,800,000 |
| Other assets | $1,028,665 |
| Total assets | $43,449,946 |
| Accounts payable and accrued expenses | $8,484,918 |
| Grants payable | $0 |
| Deferred revenue | $9,349,139 |
| 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 | $3,417,545 |
| Total liabilities | $21,251,602 |
| Net assets without donor restrictions | $22,198,344 |
| 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 | $43,449,946 |