Society Of Actuaries

Organization Overview

Society Of Actuaries is located in Schaumburg, IL. The organization was established in 1952. According to its NTEE Classification (Y03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Society Of Actuaries employed 178 individuals. This organization is the central organization for a national or regional group of organizations. Society Of Actuaries is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2021, Society Of Actuaries generated $3.3m 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 (32.9%) each year. All expenses for the organization totaled $8.1m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (23.3%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Society Of Actuaries has awarded 235 individual grants totaling $13,375,185. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990T Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

EMPHASIZES THE SKILLSET AND THOUGHT LEADERSHIP OF ACTUARIES, AND HELPS PROVIDE (SEE SCHEDULE O) INSIGHTS TO MEMBERS, BUSINESSES, OTHER STAKEHOLDERS AND THE PUBLIC ON SOCIALLY RELEVANT TOPICS.

Describe the Organization's Program Activity:

SOA RI SERVES AN IMPORTANT PUBLIC AND SOCIETAL SERVICE BY PROVIDING A VALUABLE CONTRIBUTION TO THE BODY OF KNOWLEDGE IN THE VARIOUS AREAS OF ACTUARIAL SCIENCE. THIS INCLUDES (BUT IS NOT LIMITED TO) LEADING-EDGE RESEARCH ON AGING AND RETIREMENT, ACTUARIAL INNOVATION AND TECHNOLOGY, MORTALITY AND LONGEVITY, DIVERSITY, EQUITY AND INCLUSION, HEALTH CARE COST TRENDS, AND CATASTROPHE AND CLIMATE. SOA RI ALSO IS THE LEADING PROVIDER OF EXPERIENCE STUDIES, WHICH ARE WIDELY USED BY ACTUARIES TO DEVELOP FINANCIALLY SECURE INSURANCE SYSTEMS. MANY OUTPUTS OF SOA RI RESEARCH ARE ALSO REFERENCED BY POLICYMAKERS FOR VALUABLE BACKGROUND AND INSIGHT AS THEY DEVELOP LEGISLATION TO MEET PUBLIC NEEDS IN RELEVANT AREAS.


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Board, Officers & Key Employees

Name (title)Compensation
Greg Heidrich
CEO
$732,791
Stacy Lin
Deputy Ceo/cfo
$420,990
R Dale Hall
Managing Director Research
$375,980
Ken Guthrie
Managing Director Education
$369,850
Michael Boot
Managing Director, Engagement
$331,016
Richard Veys
General Counsel
$324,749

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Milliman Inc
Consultant
$157,239
Ll Global
Researcher
$145,900
Risk & Regulatory Consulting Llc
Researcher
$130,880
Mathew Greenwald & Associates
Researcher
$118,300
Rob Montgomery
Researcher
$108,432
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$176,184
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$234,601
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$410,785
Total Program Service Revenue$0
Investment income $1,642,898
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $1,202,798
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $3,256,481

Grants Awarded

Over the last fiscal year, Society Of Actuaries has awarded $1,835,215 in support to 32 organizations.

Grant RecipientAmount

THE ACTUARIAL FOUNDATION

Org PageRecipient Profile

Schaumburg, IL

PURPOSE: GENERAL SUPPORT

$525,000

MILLIMAN INC

PURPOSE: RESEARCH GRANT

$201,238

Windsor, CT

PURPOSE: RESEARCH GRANT

$145,900

RISK & REGULATORY CONSULTING

PURPOSE: RESEARCH GRANT

$130,880

MATTHEW GREENWALD & ASSOC

PURPOSE: RESEARCH GRANT

$119,300

MIB INC

PURPOSE: RESEARCH GRANT

$102,842
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Society Of Actuaries has recieved totaling $176,184.

Awarding OrganizationAmount
Society Of Actuaries Professional Association

Schaumburg, IL

PURPOSE: RESEARCH GRANT

$176,184
View Grant Recipient Profile

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