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← AMERICAN ACADEMY OF ACTUARIES

Form 990 for tax year 2023

Filed by AMERICAN ACADEMY OF ACTUARIES.

Totals

Total revenue
$15,419,248
Total expenses
$14,516,124
Contributions and grants received
$0
Grants paid
$130,000
Program service revenue
$14,145,811
Investment income
$1,054,099
Other revenue
$219,338
Total assets, end of year
$35,313,722
Total liabilities, end of year
$15,203,497
Net assets or fund balances, end of year
$20,110,225
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$0

Program services were 0.0% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $0

  • 1d · Related organizations

    $0

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $0

  • 1g · Noncash contributions included above

    $0

  • 2a · Program service revenue: Membership Dues

    total $12,468,166 · related or exempt $12,468,166 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Meeting Revenue

    total $415,446 · related or exempt $415,446 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Webcast Revenue

    total $613,020 · related or exempt $613,020 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Service Fees

    total $446,102 · related or exempt $446,102 · unrelated business $0 · excluded $0

  • 2e · Program service revenue: Manual Sales

    total $179,600 · related or exempt $179,600 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $23,477 · related or exempt $23,477 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $1,054,099 · related or exempt $0 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $0 · other assets $0

  • 7b · Less cost or other basis and sales expenses

    securities $0 · other assets $0

  • 7c · Gain or loss

    securities $0 · other assets $0

  • 7d · Net gain or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11a · Other revenue: Magazine Advertising

    total $219,338 · related or exempt $0 · unrelated business $219,338 · excluded $0

  • 11b · Other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11c · Other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11d · All other revenue

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $219,338

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $130,000 · program services $0

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $2,469,613 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $4,164,631 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $452,289 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $462,366 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $444,859 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $153,600 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $60,720 · program services $0 · management and general $0 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $969,295 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $201,164 · program services $0 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $300,977 · program services $0 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $949,072 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $352,575 · program services $0 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $927,484 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $174,796 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $115,043 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: Printing & Publications

    total $458,036 · program services $0 · management and general $0 · fundraising $0

  • 24b · Other expenses: Practice Councils

    total $429,068 · program services $0 · management and general $0 · fundraising $0

  • 24c · Other expenses: Credit Card Fees

    total $438,741 · program services $0 · management and general $0 · fundraising $0

  • 24d · Other expenses: UBIT

    total $3,445 · program services $0 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $858,350 · program services $0 · management and general $0 · fundraising $0

  • 26 · Joint costs (an allocation of the lines above)

    total $0 · program services $0 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $4,737,022 · end of year $4,791,280

  • 2 · Savings and temporary cash investments

    beginning of year $3,692,616 · end of year $2,321,565

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $500,941 · end of year $514,963

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $290,028 · end of year $226,503

  • 10a · Land, buildings and equipment: cost or other basis

    $3,584,344

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,892,452

  • 10c · Land, buildings and equipment, net

    beginning of year $742,492 · end of year $691,892

  • 11 · Investments: publicly traded securities

    beginning of year $18,832,997 · end of year $22,419,244

  • 12 · Investments: other securities

    beginning of year $0 · end of year $0

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $5,017,402 · end of year $4,235,802

  • 15 · Other assets

    beginning of year $104,614 · end of year $112,473

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,319,285 · end of year $1,573,770

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $8,382,445 · end of year $8,327,870

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $6,531,347 · end of year $5,301,857

  • 27 · Net assets without donor restrictions

    beginning of year $17,685,035 · end of year $20,110,225

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2023

Mission

The Academys mission is to serve the public and the United States actuarial profession.

  • Provided independent and objective actuarial information analysis and education for the formation of public policy; Identified and addressed issues on behalf of the public in matters where actuarial science provided an understanding; Increased the publics understanding and recognition of the value of the actuarial profession; Facilitated and coordinated issues of common interest among the U.S.-based actuarial actuarial associations; and coordinated the representation of the U.S. profession globally.

  • Established and improved standards of actuarial practice. These Actuarial Standards of Practice ASOPs identify what the actuary should consider document and disclose when performing an actuarial assignment. Set standards for appropriate practice in the United States.

  • Strengthened members adherence to the recognized standards of ethical and professional conduct. Responded to actuaries request for guidance on professional issues and considered complaints about possible violations of the actuarial Codes of Professional Conduct and conducted educational outreach efforts.

As filed on the 2023 return.

Listed in Part VII

  • Lisa Slotznick

    President

    Total calculated
    $0
    Hours/week
    1

    Schedule J breakdown matched by us

    Base
    $0
    Bonus
    $0
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0
    Filer's total
    $0

  • Darrell Knapp

    President - Elect

    Total calculated
    $0
    Hours/week
    1

  • Ken Kent

    Immediate Past President

    Total calculated
    $0
    Hours/week
    1

  • Maryellen Coggins

    Penultimate Past President

    Total calculated
    $0
    Hours/week
    1

  • Benjamin Slutsker

    Secretary - Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Tim Geddes

    VP Professionalism and Education

    Total calculated
    $0
    Hours/week
    1

  • Amy Angell

    VP Casualty

    Total calculated
    $0
    Hours/week
    1

  • Jason Kehrberg

    VP LIfe

    Total calculated
    $0
    Hours/week
    1

  • Barbara Klever

    VP Health

    Total calculated
    $0
    Hours/week
    1

  • Jason Russell

    VP Pension

    Total calculated
    $0
    Hours/week
    1

  • Steve Malerich

    VP Risk Management Financial Reporting

    Total calculated
    $0
    Hours/week
    1

  • Cathy Murphy Barron

    Director

    Total calculated
    $0
    Hours/week
    1

  • Dorothy Andrews

    Director

    Total calculated
    $0
    Hours/week
    1

  • Steve Malerich

    Vp Risk Mgt Financial Reporting

    Total calculated
    $0
    Hours/week
    1

  • Lena Black

    Director

    Total calculated
    $0
    Hours/week
    1

  • Joyce Bohl

    Director

    Total calculated
    $0
    Hours/week
    1

  • Chris Carlson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Derek Freihaut

    Director

    Total calculated
    $0
    Hours/week
    1

  • Annette James

    Director

    Total calculated
    $0
    Hours/week
    1

  • Julia Lerch

    Director

    Total calculated
    $0
    Hours/week
    1

  • Maambo Mujala

    Director

    Total calculated
    $0
    Hours/week
    1

  • Sherry Chan to Nov 14 2023

    VP Pension

    Total calculated
    $0
    Hours/week
    1

  • Seong min Eom to Nov 14 2023

    VP Risk Managment Financial Reporting

    Total calculated
    $0
    Hours/week
    1

  • Margaret Berger to Nov 14 2023

    Director

    Total calculated
    $0
    Hours/week
    1

  • Pete Weber to Nov 14 2023

    Director

    Total calculated
    $0
    Hours/week
    1

  • William Michalisin

    Executive Director

    Total calculated
    $670,988
    From this org
    $623,891
    From related orgs
    $0
    Other
    $47,097
    Hours/week
    50

  • Thomas Hopkins

    CFO Sr Director Admininstration

    Total calculated
    $326,326
    From this org
    $289,878
    From related orgs
    $0
    Other
    $36,448
    Hours/week
    50

  • Brian Jackson

    General Counsel Sr Dir Professionalism

    Total calculated
    $340,490
    From this org
    $296,429
    From related orgs
    $0
    Other
    $44,061
    Hours/week
    50

  • David Nolan

    Sr Director of Communications

    Total calculated
    $340,314
    From this org
    $263,238
    From related orgs
    $0
    Other
    $77,076
    Hours/week
    50

  • Lori Feinman

    Sr Dir Education and Events

    Total calculated
    $292,304
    From this org
    $249,500
    From related orgs
    $0
    Other
    $42,804
    Hours/week
    50

  • Kasha Shelton

    Sr Director of Membership

    Total calculated
    $225,332
    From this org
    $181,144
    From related orgs
    $0
    Other
    $44,188
    Hours/week
    50

  • Geralyn Trujullo

    Sr Dir of Public Policy

    Total calculated
    $141,273
    From this org
    $137,155
    From related orgs
    $0
    Other
    $4,118
    Hours/week
    50

  • Christopher Cassidy

    Asst Director of IT

    Total calculated
    $248,503
    From this org
    $184,151
    From related orgs
    $0
    Other
    $64,352
    Hours/week
    35

  • Erica Kennedy

    Director of Professionalism and ASB

    Total calculated
    $205,439
    From this org
    $164,196
    From related orgs
    $0
    Other
    $41,243
    Hours/week
    35

  • Ed Lee

    Assoc Director Professionalism ABCD

    Total calculated
    $194,414
    From this org
    $170,236
    From related orgs
    $0
    Other
    $24,178
    Hours/week
    35

  • Steven Jackson

    Director Research

    Total calculated
    $204,345
    From this org
    $182,350
    From related orgs
    $0
    Other
    $21,995
    Hours/week
    35

  • Jen Adach

    Director Marketing

    Total calculated
    $191,004
    From this org
    $155,365
    From related orgs
    $0
    Other
    $35,639
    Hours/week
    35

  • Craig Hanna to Feb 23 2023

    Director Public Policy

    Total calculated
    $132,586
    From this org
    $129,822
    From related orgs
    $0
    Other
    $2,764
    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. 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

Answered yes

  • 3 · Independent compensation consultant
  • 3 · Written employment contract
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

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

Provenance

Return type
form_990
Tax year
2023
Filed
15 November 2024
IRS schema version
2023v5.1
Source object
202433209349303468

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