Form 990 for tax year 2023
Filed by INTERNATIONAL ASSOCIATION OF BLACK ACTUARIES INC.
Totals
- Total revenue
- $1,710,351
- Total expenses
- $1,244,030
- Contributions and grants received
- $1,535,904
- Grants paid
- $261,873
- Program service revenue
- $107,477
- Investment income
- $66,970
- Other revenue
- $0
- Total assets, end of year
- $2,736,516
- Total liabilities, end of year
- $10,167
- Net assets or fund balances, end of year
- $2,726,349
- Program services expenses (Part IX)
- $1,100,788
- Management and general expenses
- $112,528
- Fundraising expenses
- $30,714
- Program service expenses (Part III)
- $1,100,788
Program services were 88.5% 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.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$1,535,904
-
2a · Program service revenue: ANNUAL MEETING
total $66,275 · related or exempt $66,275
-
2b · Program service revenue: MEMBERSHIP DUES
total $27,715 · related or exempt $27,715
-
2c · Program service revenue: MISCELLANEOUS
total $13,487 · related or exempt $13,487
-
3 · Investment income
total $66,970 · excluded $66,970
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $261,873 · program services $261,873
-
5 · Compensation of officers, directors and key employees
total $139,599 · program services $111,679 · management and general $13,960 · fundraising $13,960
-
7 · Other salaries and wages
total $84,771 · program services $67,817 · management and general $8,477 · fundraising $8,477
-
10 · Payroll taxes
total $7,012 · program services $5,610 · management and general $701 · fundraising $701
-
11a · Fees: management
total $21,176 · program services $16,940 · management and general $2,118 · fundraising $2,118
-
11b · Fees: legal
total $9,124 · management and general $9,124
-
11c · Fees: accounting
total $24,225 · management and general $24,225
-
11g · Fees: other
total $26,100 · management and general $26,100
-
12 · Advertising and promotion
total $1,885 · program services $1,885
-
13 · Office expenses
total $20,236 · program services $16,188 · management and general $2,024 · fundraising $2,024
-
14 · Information technology
total $8,097 · program services $6,477 · management and general $810 · fundraising $810
-
17 · Travel
total $3,431 · program services $2,745 · management and general $343 · fundraising $343
-
19 · Conferences, conventions and meetings
total $557,881 · program services $557,881
-
20 · Interest
total $10 · management and general $10
-
22 · Depreciation, depletion and amortization
total $707 · program services $565 · management and general $71 · fundraising $71
-
23 · Insurance
total $5,247 · program services $4,197 · management and general $525 · fundraising $525
-
24a · Other expenses: MENTORING
total $24,900 · program services $24,900
-
24b · Other expenses: LEADERSHIP RETREAT
total $22,355 · management and general $22,355
-
24c · Other expenses: COMMITTEES
total $16,850 · program services $13,480 · management and general $1,685 · fundraising $1,685
-
24d · Other expenses: CITY AFFILIATES
total $8,551 · program services $8,551
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $194,065 · end of year $151,589
-
2 · Savings and temporary cash investments
beginning of year $1,827,082 · end of year $2,066,861
-
3 · Pledges and grants receivable
beginning of year $250,000 · end of year $504,000
-
9 · Prepaid expenses and deferred charges
beginning of year $8,004 · end of year $11,728
-
10a · Land, buildings and equipment: cost or other basis
$68,786
-
10b · Land, buildings and equipment: accumulated depreciation
$66,448
-
10c · Land, buildings and equipment, net
beginning of year $1,560 · end of year $2,338
-
17 · Accounts payable and accrued expenses
beginning of year $20,683 · end of year $10,167
-
27 · Net assets without donor restrictions
beginning of year $2,010,028 · end of year $2,222,349
-
28 · Net assets with donor restrictions
beginning of year $250,000 · end of year $504,000
Mission and programs · 2023
Mission
DEVELOPS EDUCATIONAL ACTIVITIES RELATED TO ACTUARIAL SCIENCE DESIGNED TO IMPROVE SKILLS OF BLACK ACTUARIES IN THE COMMUNITY AND ENCOURAGE COLLEGE STUDENTS TO PURSUE STUDIES IN ACTUARIAL SCIENCE.
Activities or mission (Part I)
ORGANIZED TO ESTABLISH AND PROVIDE FINANCIAL ASSISTANCE, MENTORS AND ROLE MODELS FOR BLACK HIGH SCHOOL AND COLLEGE STUDENTS TO PURSUE STUDIES IN ACTUARIAL SCIENCE AND TO ENCOURAGE PARTICIPATION OF ITS MEMBERS IN ACTIVITIES OF ACTUARIAL ORGANIZATIONS.
-
ANNUAL MEETING AND SEMINARS - PROVIDES EDUCATIONAL SEMINARS TO MEMBERSHIP IMPROVING BOTH TECHNICAL AND PROFESSIONAL SKILLS AND AN OPPORTUNITY FOR ACTUARIAL STUDENTS TO INTERACT WITH INDUSTRY PROFESSIONALS AND RECRUITERS IN A CASUAL AND INTIMATE ENVIRONMENT. THERE WERE 600+ ATTENDEES AT THIS YEAR'S ANNUAL MEETING.
Expenses $748,984 · Revenue $107,477
-
SCHOLARSHIPS - PROVIDING SCHOLARSHIPS AT THE UNDERGRADUATE AND GRADUATE LEVEL TO QUALIFIED BLACK STUDENTS WHO ARE INTERESTED IN PURSUING AN ACTUARIAL CAREER. DURING THIS YEAR, IABA AWARDED SCHOLARSHIPS TO OVER EIGHTY (80) ACTUARIAL STUDENTS.
Expenses $351,804 · Grants $261,873
-
ANNUAL BOOTCAMP - INCREASING INDUSTRY AWARENESS OF PROSPECTIVE ACTUARIAL STUDENTS AND POSITIONING THEM FOR A SUCCESSFUL ACTUARIAL INTERNSHIP OR ENTRY-LEVEL OPPORTUNITY. PROVIDING ATTENDEES WITH EXPOSURE TO REAL WORLD ACTUARIAL WORK, RESOURCES IN PREPARING FOR PROFESSIONAL EXAMS, THE SOFT SKILLS NEEDED TO SUCCESSFULLY INTERVIEW FOR AND LAND AN INTERNSHIP OR ENTRY-LEVEL POSITION AS WELL AS EXTENDED SUPPORT TO REMAIN ON THEIR CHOSEN CAREER PATHWAY FOR THOSE WHO WILL BE RETURNING TO ACADEMIC PROGRAMS.
As filed on the 2023 return.
Listed in Part VII
-
Alan NewsomeALAN NEWSOME
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Dwayne HusbandsDWAYNE HUSBANDS
PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Gloria GilliamGLORIA GILLIAM
SECRETARY
- Total calculated
- $0
- Hours/week
- 2
-
Stephen AbrokwahSTEPHEN ABROKWAH
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 2
-
Monique Hacker-PattersonMONIQUE HACKER-PATTERSON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Edson EdwardsEDSON EDWARDS
TREASURER
- Total calculated
- $0
- Hours/week
- 2
-
Tenesia McGruderTENESIA MCGRUDER
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Ugo OkepwhoUGO OKEPWHO
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Maambo MujalaMAAMBO MUJALA
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Nicole HarringtonNICOLE HARRINGTON
DIRECTOR
- Total calculated
- $0
- Hours/week
- 2
-
Catherine WeaverCATHERINE WEAVER
INTERIM EXECUTIVE DIRECTOR
- Total calculated
- $88,350
- From this org
- $88,350
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
-
Dr Tiffany HolmesDR TIFFANY HOLMES
EXECUTIVE DIRECTOR
- Total calculated
- $51,250
- From this org
- $51,250
- From related orgs
- $0
- Other
- $0
- Hours/week
- 50
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.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 13 November 2024
- IRS schema version
- 2023v5.1
- Source object
- 202403199349315410
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