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Nonprofiteer
← RISK AND INSURANCE MANAGEMENT SOCIETY INC

Form 990 for tax year 2023

Filed by RISK AND INSURANCE MANAGEMENT SOCIETY INC.

This return was superseded by a later amendment. matched by us It is kept because history is preserved rather than replaced.

What the amendment changed

Compared with the latest return for 2023 , filed 26 December 2024. matched by us Only the Part I totals and the names listed in Part VII are compared. We relate returns by organization, tax year and form, and order them by each return's own timestamp; the filer's own "amended return" checkbox is a separate fact.

Both are the same on the two returns, so the amendment changed something else.

Totals

Total revenue
$18,564,344
Total expenses
$19,010,375
Contributions and grants received
$0
Grants paid
$254,502
Program service revenue
$17,665,956
Investment income
$294,719
Other revenue
$603,669
Total assets, end of year
$21,948,496
Total liabilities, end of year
$16,735,160
Net assets or fund balances, end of year
$5,213,336
Program services expenses (Part IX)
not reported
Management and general expenses
not reported
Fundraising expenses
not reported
Program service expenses (Part III)
$0

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.

  • 2a · Program service revenue: CONFERENCE/SEMINARS

    total $12,044,216 · related or exempt $12,044,216

  • 2b · Program service revenue: MEMBERSHIP DUES

    total $2,524,153 · related or exempt $2,524,153

  • 2c · Program service revenue: PROFESSIONAL DEVELOPMENT

    total $1,236,856 · related or exempt $1,236,856

  • 2d · Program service revenue: ADMINISTRATIVE FEES

    total $953,598 · related or exempt $953,598

  • 2e · Program service revenue: ADVERTISING

    total $502,697 · related or exempt $154,013 · unrelated business $348,684

  • 2f · All other program service revenue

    total $404,436 · related or exempt $404,436 · unrelated business $0 · excluded $0

  • 3 · Investment income

    total $347,660 · excluded $347,660

  • 6a · Gross rents

    real property $511,061

  • 6b · Less rental expenses

    real property $8,155

  • 6c · Rental income or loss

    real property $502,906 · personal property $0

  • 6d · Net rental income or loss

    total $502,906 · excluded $502,906

  • 7a · Gross sales of assets other than inventory

    securities $177,781

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

    securities $230,722

  • 7c · Gain or loss

    securities -$52,941 · other assets $0

  • 7d · Net gain or loss

    total -$52,941 · excluded -$52,941

  • 11a · Other revenue: RIMS CAREER CENTER

    total $41,491 · unrelated business $41,491

  • 11b · Other revenue: CANADA COUNCIL INCOME

    total $15,000 · excluded $15,000

  • 11c · Other revenue: EARLY PAY DISCOUNTS

    total $13,471 · excluded $13,471

  • 11d · All other revenue

    total $30,801 · related or exempt $0 · unrelated business $0 · excluded $30,801

  • 11e · Other revenue, total

    $100,763

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $90,388

  • 3 · Grants to foreign organizations and individuals

    total $164,114

  • 5 · Compensation of officers, directors and key employees

    total $1,887,668

  • 7 · Other salaries and wages

    total $4,934,519

  • 9 · Other employee benefits

    total $970,607

  • 10 · Payroll taxes

    total $471,844

  • 11b · Fees: legal

    total $59,998

  • 11c · Fees: accounting

    total $7,047

  • 11d · Fees: lobbying

    total $512,494

  • 11f · Fees: investment management

    total $39,656

  • 11g · Fees: other

    total $1,882,227

  • 12 · Advertising and promotion

    total $499,540

  • 13 · Office expenses

    total $1,090,148

  • 14 · Information technology

    total $1,049,655

  • 16 · Occupancy

    total $815,855

  • 17 · Travel

    total $1,136,424

  • 19 · Conferences, conventions and meetings

    total $1,376,221

  • 20 · Interest

    total $36,657

  • 22 · Depreciation, depletion and amortization

    total $118,665

  • 23 · Insurance

    total $402,059

  • 24a · Other expenses: FACILITIES/EQUIPMENT RENTAL

    total $947,612

  • 24b · Other expenses: PHOTOGRAPHY/VIDEOGRAPHY

    total $142,430

  • 24c · Other expenses: MINOR EQUIPMENT

    total $133,367

  • 24d · Other expenses: DUES & SUBSCRIPTIONS

    total $127,360

  • 24e · All other expenses

    total $113,820

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $2,135,852 · end of year $2,567,024

  • 2 · Savings and temporary cash investments

    beginning of year $744,432 · end of year $957,547

  • 4 · Accounts receivable

    beginning of year $379,282 · end of year $290,251

  • 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

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,157,630 · end of year $1,036,304

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

    $4,604,292

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

    $4,031,011

  • 10c · Land, buildings and equipment, net

    beginning of year $418,039 · end of year $573,281

  • 11 · Investments: publicly traded securities

    beginning of year $8,165,273 · end of year $9,797,340

  • 12 · Investments: other securities

    beginning of year $0

  • 13 · Investments: program-related

    beginning of year $0

  • 14 · Intangible assets

    beginning of year $612,446 · end of year $673,277

  • 15 · Other assets

    beginning of year $6,635,756 · end of year $6,053,472

  • 17 · Accounts payable and accrued expenses

    beginning of year $780,678 · end of year $1,818,191

  • 19 · Deferred revenue

    beginning of year $5,276,896 · end of year $6,112,941

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $9,613,415 · end of year $8,804,028

  • 27 · Net assets without donor restrictions

    beginning of year $4,577,721 · end of year $5,213,336

Mission and programs · 2023

Mission

The Risk and Insurance Management Society, Inc. empowers risk professionals to make the world safer, more secure, and more sustainable. Through networking, professional development, certification, advocacy, and research, RIMS and its 80 chapters serves more than 200,000 risk practitioners and business leaders from over 75 countries. The strategic goals of the organization are: 1) Ensure a sustainable and adaptable organizational structure; 2) Equip risk professionals to succeed in an evolving environment; 3) Enhance engagement with members and the broader risk management community; 4) Expand RIMS influence worldwide.

Activities or mission (Part I)

TO EDUCATE, ENGAGE AND ADVOCATE FOR THE GLOBAL RISK COMMUNITY.

  • Events - RIMS' conferences continue to be the risk management profession's leading events that offer valuable interaction with experienced speakers, relevant and practical presentations, and peer knowledge sharing opportunities. This program is responsible for the planning and production of RIMS Annual Conference & Exhibition known as RISKWORLD, RIMS ERM Conference, and RIMS Canada Conference. RIISKWORLD is the definitive event for risk professionals, which attracted approximately 8,000 risk professionals (member, nonmembers and exhibitors) worldwide in 2022 when RIMS was able to return to an in-person event post-COVID and increased to nearly 9,000 in 2023. This prestigious event offers its attendees in-depth education for all career levels, a dynamic marketplace featuring 400+ state of the art solutions, and multiple peer networking opportunities. In 2023, RISKWORLD offered focused tracks on claims management, career development, ESG, risk mitigation, strategic and enterprise risk management and insurance topics.

  • Membership and Member Services - The Membership program serves RIMS population of approximately 9,000 members and 80 chapters. This program reviews and monitors goals for member recruitment and retention and includes all member marketing, recruiting, retention expenses, student initiatives and competitions, and chapter-related expenses including RIMS Canada Council. Other activities include the career center and benchmark and compensation surveys. RIMS is dedicated to the development of tomorrow's risk management leaders through various initiatives, including the Rising Risk Professional Community, the RIMS Anita Benedetti Student Involvement Program, and the annual Risk Management Challenge. In 2023, RIMS launched an updated virtual membership engagement resource, ENGAGE, which improved the process of researching risk management issues and building professional relationships through networking opportunities. RIMS also launched an updated chapter management platform to assist chapters with numerous administrative processes including enhanced internal controls.

  • Knowledge and Learning - The Society offers a robust group of educational programs through in-person, on demand and online instructor-led courses, workshops, webinars, Chapter events and corporate training programs. Workshops focus on key educational needs for the risk management profession including Applying & Integrating ERM, Fundamentals of Insurance, Fundamentals of Risk Management, and preparatory courses for the RIMS-CRMP certification. Online courses are also offered through partnerships with vendors. Workshops focus on key educational needs for the risk management profession including Applying & Integrating ERM, Fundamentals of Insurance, Fundamentals of Risk Management, and preparatory courses for the RIMS-CRMP certification.

  • Publications - Risk Management Magazine is RIMS's flagship publication and includes articles of interest to professionals responsible for risk and insurance management in business and industrial firms, public administration and government, insurance companies, agents and brokers, business services and others allied to the field. By providing in-depth analysis of the world of risk, Risk Management Magazine is a vital source of pertinent information for risk professionals and those who engage with risk professionals. RIMS Risk-Wire, distributed twice per week, is an exclusive news service for RIMS members that provides an executive summary and links to the most important risk management stories of the day. The RIMScast podcast is produced regularly and leading experts in the risk world on various topics and issues important to risk professionals.

  • Public Policy (formerly External Affairs) - This program encompasses government affairs, advocacy and external communications and focuses on U.S. federal, state and Canadian federal and provincial legislative and regulatory issues that impact the risk management community. The program maintains a standing External Affairs Committee that is responsible for crafting RIMS position statements, composing letters to members of Congress, and establishing RIMS legislative priorities. In 2023, RIMS held its most widely attended Legislative Summit in the organization's history. The program maintains contact with its members throughout North America regarding all legislative development via the RIMS website, newsletters and e-mail alerts and offers resources on advocacy to members and nonmembers.

  • Certification - RIMS offers the only competency-based risk management credential, an accredited RIMS-CRMP certification that validates performance ability, technical knowledge and commitment to risk management quality standards. It represents the standard of education, experience and ethics that the discipline requires and allows certification holders to demonstrate their knowledge, competitive advantage, and commitment to quality and ethics. This program area also administers the GRMI programs for the Canadian Risk Management (CRM) designation.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • David Arick

    VICE PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Jennifer Santiago

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Kevin Bates

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Kristen Peed

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Christie Weinstein

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Christina Gardner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Christy Kauffman

    Director

    Total calculated
    $0
    Hours/week
    3

  • John Kline

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Manny Padilla

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Patrick Sterling

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Penni Chambers

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Tina Gardiner

    DIRECTOR

    Total calculated
    $0
    Hours/week
    3

  • Gary Labranche

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $584,706
    From this org
    $508,394
    From related orgs
    $0
    Other
    $76,312
    Hours/week
    34.8 + 0.3 related

    Schedule J breakdown matched by us

    Base
    $479,894
    Bonus
    $28,500
    Other
    $0
    Deferred
    $26,854
    Nontaxable benefits
    $49,458
    Filer's total
    $584,706

  • Katherine Gledhill

    CHIEF FINANCIAL OFFICER

    Total calculated
    $230,482
    From this org
    $217,126
    From related orgs
    $0
    Other
    $13,356
    Hours/week
    34.8 + 0.3 related

    Schedule J breakdown matched by us

    Base
    $217,126
    Bonus
    $0
    Other
    $0
    Deferred
    $12,512
    Nontaxable benefits
    $844
    Filer's total
    $230,482

  • Annette Homan

    CHIEF OPERATING OFFICER

    Total calculated
    $280,506
    From this org
    $237,853
    From related orgs
    $0
    Other
    $42,653
    Hours/week
    34.8 + 0.3 related

    Schedule J breakdown matched by us

    Base
    $237,853
    Bonus
    $0
    Other
    $0
    Deferred
    $14,360
    Nontaxable benefits
    $28,293
    Filer's total
    $280,506

  • Leslie Whittet

    CHIEF MEMBER EXPERIENCE OFFICER

    Total calculated
    $191,435
    From this org
    $171,245
    From related orgs
    $0
    Other
    $20,190
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $171,245
    Bonus
    $0
    Other
    $0
    Deferred
    $5,262
    Nontaxable benefits
    $14,928
    Filer's total
    $191,435

  • Mark Prysock

    GENERAL COUNSEL

    Total calculated
    $267,562
    From this org
    $238,377
    From related orgs
    $0
    Other
    $29,185
    Hours/week
    34.8 + 0.3 related

    Schedule J breakdown matched by us

    Base
    $238,377
    Bonus
    $0
    Other
    $0
    Deferred
    $12,900
    Nontaxable benefits
    $16,285
    Filer's total
    $267,562

  • Michael Peters

    CHIEF TECHNOLOGY OFFICER

    Total calculated
    $270,477
    From this org
    $216,851
    From related orgs
    $0
    Other
    $53,626
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $216,851
    Bonus
    $0
    Other
    $0
    Deferred
    $13,133
    Nontaxable benefits
    $40,493
    Filer's total
    $270,477

  • Stuart Ruff-Lyon

    CHIEF SALES & EVENTS OFFICER

    Total calculated
    $233,745
    From this org
    $205,341
    From related orgs
    $0
    Other
    $28,404
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $205,341
    Bonus
    $0
    Other
    $0
    Deferred
    $12,119
    Nontaxable benefits
    $16,285
    Filer's total
    $233,745

  • Denise Teresa Osorio

    VP-PROFESSIONAL DEVELOPMENT

    Total calculated
    $189,723
    From this org
    $179,372
    From related orgs
    $0
    Other
    $10,351
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $179,372
    Bonus
    $0
    Other
    $0
    Deferred
    $10,351
    Nontaxable benefits
    $0
    Filer's total
    $189,723

  • Kris Wolcott

    DIRECTOR OF SALES

    Total calculated
    $204,926
    From this org
    $156,904
    From related orgs
    $0
    Other
    $48,022
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $156,904
    Bonus
    $0
    Other
    $0
    Deferred
    $9,583
    Nontaxable benefits
    $38,439
    Filer's total
    $204,926

  • Richard Ofosu

    LEAD NET DEVELOPER

    Total calculated
    $166,149
    From this org
    $144,427
    From related orgs
    $0
    Other
    $21,722
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $144,427
    Bonus
    $0
    Other
    $0
    Deferred
    $8,548
    Nontaxable benefits
    $13,174
    Filer's total
    $166,149

  • Robin Tallant

    DIRECTOR OF MARKETING

    Total calculated
    $169,828
    From this org
    $160,900
    From related orgs
    $0
    Other
    $8,928
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $160,900
    Bonus
    $0
    Other
    $0
    Deferred
    $8,928
    Nontaxable benefits
    $0
    Filer's total
    $169,828

  • Scott Baldridge

    SYSTEMS ENGINEER MANAGER

    Total calculated
    $168,699
    From this org
    $135,298
    From related orgs
    $0
    Other
    $33,401
    Hours/week
    35

    Schedule J breakdown matched by us

    Base
    $135,298
    Bonus
    $0
    Other
    $0
    Deferred
    $8,157
    Nontaxable benefits
    $25,244
    Filer's total
    $168,699

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

  • 1a · Travel for companions
  • 1a · Tax indemnification and gross-up payments
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 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

The filer's explanations (Part III)

Schedule J, Part I, Line 1a Travel for companions
Travel costs were covered for Karen LaBranche, wife of CEO Gary LaBranche.
Schedule J, Part I, Line 1a Tax indemnification and gross-up payments
Gary LaBranche, CEO, was provided with grossed up tax coverage.

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

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
1 October 2024
IRS schema version
2023v5.1
Source object
202442759349301654

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