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← AMERICAN ACADEMY OF ACTUARIES

Form 990 for tax year 2022

Filed by AMERICAN ACADEMY OF ACTUARIES.

Totals

Total revenue
$14,614,904
Total expenses
$13,556,184
Contributions and grants received
$0
Grants paid
$128,000
Program service revenue
$13,966,641
Investment income
$388,764
Other revenue
$259,499
Total assets, end of year
$33,918,112
Total liabilities, end of year
$16,233,077
Net assets or fund balances, end of year
$17,685,035
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 $12,404,099 · related or exempt $12,404,099 · unrelated business $0 · excluded $0

  • 2b · Program service revenue: Meeting Revenue

    total $414,567 · related or exempt $414,567 · unrelated business $0 · excluded $0

  • 2c · Program service revenue: Webcast Revenue

    total $437,850 · related or exempt $437,850 · unrelated business $0 · excluded $0

  • 2d · Program service revenue: Service Fees

    total $447,652 · related or exempt $447,652 · unrelated business $0 · excluded $0

  • 2e · Program service revenue: Manual Sales

    total $257,725 · related or exempt $257,725 · unrelated business $0 · excluded $0

  • 2f · All other program service revenue

    total $4,748 · related or exempt $4,748 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $740,594 · related or exempt $0 · unrelated business $0 · excluded $740,594

  • 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 $3,403,881 · other assets $0

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

    securities $3,755,711 · other assets $0

  • 7c · Gain or loss

    securities -$351,830 · other assets $0

  • 7d · Net gain or loss

    total -$351,830 · related or exempt $0 · unrelated business $0 · excluded -$351,830

  • 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 $259,499 · related or exempt $0 · unrelated business $259,499 · 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

    $259,499

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $128,000 · 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 $2,292,668 · 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 $3,260,485 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $457,533 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $367,899 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $410,163 · 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 $110,436 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $53,668 · 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 $835,408 · 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 $220,975 · program services $0 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $248,328 · 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 $920,155 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $289,437 · 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 $767,693 · 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 $154,869 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $124,530 · program services $0 · management and general $0 · fundraising $0

  • 24a · Other expenses: Printing & Publications

    total $610,414 · program services $0 · management and general $0 · fundraising $0

  • 24b · Other expenses: Practice Councils

    total $390,092 · program services $0 · management and general $0 · fundraising $0

  • 24c · Other expenses: Credit Card Fees

    total $411,909 · program services $0 · management and general $0 · fundraising $0

  • 24d · Other expenses: UBIT

    total $8,729 · program services $0 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $1,492,793 · 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 $4,459,600 · end of year $4,737,022

  • 2 · Savings and temporary cash investments

    beginning of year $1,244,736 · end of year $3,692,616

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $395,879 · end of year $500,941

  • 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 $342,432 · end of year $290,028

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

    $3,493,443

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

    $2,750,951

  • 10c · Land, buildings and equipment, net

    beginning of year $858,744 · end of year $742,492

  • 11 · Investments: publicly traded securities

    beginning of year $23,531,120 · end of year $18,832,997

  • 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 $0 · end of year $5,017,402

  • 15 · Other assets

    beginning of year $131,969 · end of year $104,614

  • 17 · Accounts payable and accrued expenses

    beginning of year $1,340,404 · end of year $1,319,285

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $8,054,145 · end of year $8,382,445

  • 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 $1,935,417 · end of year $6,531,347

  • 27 · Net assets without donor restrictions

    beginning of year $19,634,514 · end of year $17,685,035

  • 28 · Net assets with donor restrictions

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

The Academy's 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 public's 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 2022 return.

Listed in Part VII

  • Ken Kent

    President

    Total calculated
    $0
    Hours/week
    1

  • Lisa Slotznick

    President - Elect

    Total calculated
    $0
    Hours/week
    1

  • Maryellen Coggins

    Immediate Past President

    Total calculated
    $0
    Hours/week
    1

  • Tom Campbell

    Penultimate President

    Total calculated
    $0
    Hours/week
    1

  • Cathy Murphy Barron to 1132022

    Secretary Treasurer

    Total calculated
    $0
    Hours/week
    1

  • Lauren Cavanuagh to 11032022

    VP Casualty

    Total calculated
    $0
    Hours/week
    1

  • Benjamin Slutsker

    VP Life

    Total calculated
    $0
    Hours/week
    1

  • Al Schmitz to 11032022

    VP Health

    Total calculated
    $0
    Hours/week
    1

  • Sherry Chan

    VP Pension

    Total calculated
    $0
    Hours/week
    1

  • Seong min Eom

    VP Risk Management Financial Reporting

    Total calculated
    $0
    Hours/week
    1

  • Al Bingham to 11032022

    VP Professionalism and Education

    Total calculated
    $0
    Hours/week
    1

  • Margaret Berger

    Director

    Total calculated
    $0
    Hours/week
    1

  • Annette James

    Director

    Total calculated
    $0
    Hours/week
    1

  • Dorothy Andrews

    Director

    Total calculated
    $0
    Hours/week
    1

  • Chris Carlson

    Director

    Total calculated
    $0
    Hours/week
    1

  • Jason Russell

    Director

    Total calculated
    $0
    Hours/week
    1

  • Pete Weber

    Director

    Total calculated
    $0
    Hours/week
    1

  • Ken Kasner to 11032022

    Director

    Total calculated
    $0
    Hours/week
    1

  • Barbara Klever

    Director

    Total calculated
    $0
    Hours/week
    1

  • Frank Todisco to 11032022

    Director

    Total calculated
    $0
    Hours/week
    1

  • Bob Beuerlein to 11032022

    Director

    Total calculated
    $0
    Hours/week
    1

  • Amy Angell

    VP Casualty

    Total calculated
    $0
    Hours/week
    1

  • Tim Geddes

    VP Professionalism and Education

    Total calculated
    $0
    Hours/week
    1

  • Joyce Bohl

    Director

    Total calculated
    $0
    Hours/week
    1

  • Derek Freihaut

    Director

    Total calculated
    $0
    Hours/week
    1

  • Darrell Knapp

    Secretary Treasurer

    Total calculated
    $0
    Hours/week
    1

  • William Michalisin

    Executive Director

    Total calculated
    $627,666
    From this org
    $577,665
    From related orgs
    $0
    Other
    $50,001
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $442,306
    Bonus
    $135,000
    Other
    $360
    Deferred
    $27,207
    Nontaxable benefits
    $22,795
    Filer's total
    $627,668

  • Thomas Hopkins

    CFO

    Total calculated
    $329,824
    From this org
    $266,138
    From related orgs
    $0
    Other
    $63,686
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $242,554
    Bonus
    $22,000
    Other
    $1,584
    Deferred
    $33,205
    Nontaxable benefits
    $30,481
    Filer's total
    $329,824

  • Craig Hanna

    Director of Public Policy

    Total calculated
    $431,331
    From this org
    $368,111
    From related orgs
    $0
    Other
    $63,220
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $349,027
    Bonus
    $17,500
    Other
    $1,584
    Deferred
    $46,473
    Nontaxable benefits
    $16,747
    Filer's total
    $431,331

  • Brian Jackson

    General Counsel

    Total calculated
    $315,433
    From this org
    $277,532
    From related orgs
    $0
    Other
    $37,901
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $254,500
    Bonus
    $22,000
    Other
    $1,032
    Deferred
    $35,698
    Nontaxable benefits
    $2,203
    Filer's total
    $315,433

  • David Nolan

    Director of Communications

    Total calculated
    $313,104
    From this org
    $249,500
    From related orgs
    $0
    Other
    $63,604
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $226,468
    Bonus
    $22,000
    Other
    $1,032
    Deferred
    $32,954
    Nontaxable benefits
    $30,650
    Filer's total
    $313,104

  • Kasha Shelton

    Director of Membership

    Total calculated
    $190,523
    From this org
    $160,758
    From related orgs
    $0
    Other
    $29,765
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $145,898
    Bonus
    $14,500
    Other
    $360
    Deferred
    $20,769
    Nontaxable benefits
    $8,996
    Filer's total
    $190,523

  • Lori Feinman from 07252022

    Director of Education and Events

    Total calculated
    $91,212
    From this org
    $80,034
    From related orgs
    $0
    Other
    $11,178
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $75,561
    Bonus
    $4,000
    Other
    $473
    Deferred
    $0
    Nontaxable benefits
    $11,178
    Filer's total
    $91,212

  • Joanne Anderson to 9302022

    Director of Finance and Admins

    Total calculated
    $196,214
    From this org
    $185,788
    From related orgs
    $0
    Other
    $10,426
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $175,681
    Bonus
    $8,920
    Other
    $1,188
    Deferred
    $0
    Nontaxable benefits
    $10,426
    Filer's total
    $196,215

  • Christopher Cassidey

    Asst Director of IT

    Total calculated
    $239,048
    From this org
    $183,434
    From related orgs
    $0
    Other
    $55,614
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $173,351
    Bonus
    $8,500
    Other
    $1,584
    Deferred
    $25,389
    Nontaxable benefits
    $30,224
    Filer's total
    $239,048

  • Devin Boerm

    Dep Director Public Policy

    Total calculated
    $194,796
    From this org
    $168,653
    From related orgs
    $0
    Other
    $26,143
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $168,413
    Bonus
    $0
    Other
    $240
    Deferred
    $18,241
    Nontaxable benefits
    $7,903
    Filer's total
    $194,797

  • Steven Jackson

    Asst Dir Research Public Policy

    Total calculated
    $191,479
    From this org
    $168,848
    From related orgs
    $0
    Other
    $22,631
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $150,800
    Bonus
    $15,000
    Other
    $3,048
    Deferred
    $21,039
    Nontaxable benefits
    $1,592
    Filer's total
    $191,479

  • Edward Lee

    Staff Attorney

    Total calculated
    $175,333
    From this org
    $156,012
    From related orgs
    $0
    Other
    $19,321
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $144,960
    Bonus
    $10,500
    Other
    $552
    Deferred
    $17,557
    Nontaxable benefits
    $1,765
    Filer's total
    $175,334

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 · Written employment contract
  • 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
2022
Filed
14 November 2023
IRS schema version
2022v5.0
Source object
202343189349308209

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