Form 990 for tax year 2022

Totals

Total revenue

$2,712,012

Total expenses

$2,306,449

Contributions and grants received

$2,529,929

Grants paid

$1,345,278

Program service revenue

$0

Investment income

$173,504

Other revenue

$8,579

Total assets, end of year

$9,082,783

Total liabilities, end of year

$496,347

Net assets or fund balances, end of year

$8,586,436

Program services expenses (Part IX)

$1,878,696

Management and general expenses

$144,128

Fundraising expenses

$283,625

Program service expenses (Part III)

$1,878,696

Program services were 81.5% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Mission and programs · 2022

• SCHOLARSHIPS - RISK MANAGEMENT AND INSURANCE STUDENTS ARE AT THE HEART OF EVERYTHING SPENCER DOES. SPENCER AWARDS UNDERGRADUATE, GRADUATE, AND PH.D. SCHOLARSHIPS TO STUDENTS STUDYING AT INSTITUTIONS IN THE UNITED STATES AND CANADA, AS WELL AS PART-TIME GRADUATE SCHOLARSHIPS TO RISK AND INSURANCE PROFESSIONALS CONTINUING THEIR EDUCATION.

  Expenses $652,228 · Grants $650,077

• GENERAL GRANTS - SPENCER'S GRANTS PROGRAM SUPPORTS INITIATIVES THAT ALIGN WITH THE FOUNDATION'S MISSION TO FUND THE EDUCATION OF TOMORROW'S RISK MANAGEMENT AND INSURANCE LEADERS. SPENCER CONSIDERS GRANT PROPOSALS THAT FALL IN THE FOLLOWING TWO CRITICAL BRANCHES: 1. PROVIDE EXPERIENTIAL LEARNING OPPORTUNITIES FOR RISK MANAGEMENT AND INSURANCE STUDENTS, AND 2. ATTRACT NEW TALENT TO THE INDUSTRY.

  Expenses $331,250 · Grants $331,250

• INTERNSHIPS - THROUGH OUR INTERNSHIP GRANT PROGRAM, SPENCER AIMS TO SUPPORT TOMORROW'S RISK MANAGEMENT AND INSURANCE LEADERS THROUGH EXPERIENTIAL LEARNING OPPORTUNITIES. SPENCER PROVIDES INTERNSHIP GRANTS OF UP TO $7,500 TO RISK MANAGERS TO HIRE INTERNS IN THE RISK MANAGEMENT FUNCTION OF THEIR ORGANIZATIONS. EMPLOYERS APPLY FOR THE GRANTS FROM SPENCER, AND STUDENTS THEN APPLY DIRECTLY WITH THE COMPANIES FOR THE INTERNSHIP OPPORTUNITIES.

  Expenses $194,356 · Grants $194,356

• COURSE DEVELOPMENT - SPENCER'S COURSE DEVELOPMENT GRANT PROGRAM SUPPORTS INTRODUCTORY RISK MANAGEMENT AND INSURANCE COURSE DEVELOPMENT - FOR UNIVERSITIES THAT HAVE NOT PREVIOUSLY OFFERED ANY SUCH INSTRUCTION - AS WELL AS PROPOSALS FOR ADDITIONAL COURSE CURRICULUM DEVELOPMENT AND PROGRAM DEVELOPMENT - FOR UNIVERSITIES LOOKING TO DEVELOP A RMI PROGRAM AND/OR EXPAND EXISTING RMI COURSE OFFERINGS, WITH AN EMPHASIS ON NEW AND EMERGING AREAS IN THE INDUSTRY. RISK MANAGER ON CAMPUS GRANTS - FOR 23 YEARS, SPENCER'S RISK MANAGER ON CAMPUS (RMOC) PROGRAM HAS BEEN PRAISED BY BOTH UNIVERSITIES AND RISK MANAGERS AS A REWARDING EDUCATIONAL EXPERIENCE FOR STUDENTS AND A CHANCE TO GIVE BACK TO THE PROFESSION. THE PROGRAM BRINGS A PRACTICING RISK MANAGER TO THE UNIVERSITY TO PRESENT AND ENGAGE WITH STUDENTS ABOUT THE RISK MANAGEMENT PROFESSION AND INSURANCE INDUSTRY.

  Expenses $700,862 · Grants $169,595

As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

• SAINT JOSEPH'S UNIVERSITY

  $75,000

  GENERAL GRANT

• TEMPLE UNIVERSITY

  $75,000

  GENERAL GRANT

• GAMMA IOTA SIGMA

  $50,000

  GENERAL GRANT

• BRADLEY UNIVERSITY

  $28,550

  COURSE DEVELOPMENT

• APPALACHIAN STATE UNIVERSITY FOUNDATION INC

  $25,000

  GENERAL GRANT

• DEPAUW UNIVERSITY

  $21,066

  COURSE DEVELOPMENT

• THE NATIONAL ALLIANCE FOR INSURANCE EDUCATION AND RESEARCH

  $18,750

  GENERAL GRANT

• UNIVERSITY OF NEVADA RENO

  $15,200

  COURSE DEVELOPMENT

• CALIFORNIA STATE FULLERTON PHILATHROPIC FDNSRMI

  $15,000

  GENERAL GRANT

• UNIVERSITY OF COLORADO

  $15,000

  GENERAL GRANT

The 10 largest by cash amount. The API serves every itemized grant.

Provenance

Return type

form_990

Tax year

2022

Filed

18 July 2023

IRS schema version

2022v5.0

Source object

202332089349300118

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.