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← INSTITUTE OF MANAGEMENT ACCOUNTANTS INC

Form 990 for tax year 2022

Filed by INSTITUTE OF MANAGEMENT ACCOUNTANTS INC.

Totals

Total revenue
$20,826,836
Total expenses
$23,034,626
Contributions and grants received
$136,372
Grants paid
$244,956
Program service revenue
$18,806,903
Investment income
$1,034,292
Other revenue
$849,269
Total assets, end of year
$47,304,030
Total liabilities, end of year
$40,065,243
Net assets or fund balances, end of year
$7,238,787
Program services expenses (Part IX)
$17,276,764
Management and general expenses
$5,757,862
Fundraising expenses
$0
Program service expenses (Part III)
$17,276,764

Program services were 75.0% 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.

  • 1f · All other contributions, gifts and grants

    $136,372

  • 2a · Program service revenue: MEMBERSHIP DUES

    total $16,365,368 · related or exempt $16,365,368

  • 2b · Program service revenue: CONFERENCES

    total $1,803,222 · related or exempt $1,803,222

  • 2c · Program service revenue: EDUCATION PROGRAMS

    total $496,893 · related or exempt $496,893

  • 2d · Program service revenue: SUBSCRIPTIONS

    total $141,420 · related or exempt $1,120 · unrelated business $140,300

  • 3 · Investment income

    total $384,914 · excluded $384,914

  • 5 · Royalties

    total $740,357 · excluded $740,357

  • 7a · Gross sales of assets other than inventory

    securities $8,624,938

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

    securities $7,975,560

  • 7c · Gain or loss

    securities $649,378

  • 7d · Net gain or loss

    total $649,378 · excluded $649,378

  • 11a · Other revenue: CREDENTIALING

    total $105,659 · related or exempt $105,659

  • 11b · Other revenue: MISC INCOME

    total $2,355 · related or exempt $2,355

  • 11c · Other revenue: ALLOCATED INC IMA IND.

    total $722 · related or exempt $722

  • 11d · All other revenue

    total $176 · related or exempt $176

  • 11e · Other revenue, total

    $108,912

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $157,357 · program services $157,357

  • 2 · Grants to domestic individuals

    total $33,500 · program services $33,500

  • 3 · Grants to foreign organizations and individuals

    total $54,099 · program services $54,099

  • 5 · Compensation of officers, directors and key employees

    total $1,830,598 · program services $255,000 · management and general $1,575,598

  • 7 · Other salaries and wages

    total $13,400,361 · program services $10,060,066 · management and general $3,340,295

  • 8 · Pension plan contributions

    total $648,796 · program services $107,071 · management and general $541,725

  • 9 · Other employee benefits

    total $2,276,688 · program services $1,773,027 · management and general $503,661

  • 10 · Payroll taxes

    total $985,105 · program services $150,409 · management and general $834,696

  • 11b · Fees: legal

    total $600,559 · management and general $600,559

  • 11c · Fees: accounting

    total $101,500 · program services $9,780 · management and general $91,720

  • 11f · Fees: investment management

    total $23,548 · management and general $23,548

  • 11g · Fees: other

    total $1,711,662 · program services $920,042 · management and general $791,620

  • 12 · Advertising and promotion

    total $5,563,740 · program services $5,550,530 · management and general $13,210

  • 13 · Office expenses

    total $1,732,774 · program services $1,202,535 · management and general $530,239

  • 14 · Information technology

    total $1,434,583 · program services $356,304 · management and general $1,078,279

  • 16 · Occupancy

    total $1,174,774 · program services $851,601 · management and general $323,173

  • 17 · Travel

    total $811,785 · program services $554,216 · management and general $257,569

  • 19 · Conferences, conventions and meetings

    total $1,858,150 · program services $1,599,534 · management and general $258,616

  • 20 · Interest

    total $80,912 · program services $1,160 · management and general $79,752

  • 21 · Payments to affiliates

    total $268,725 · program services $268,725

  • 22 · Depreciation, depletion and amortization

    total $834,703 · program services $7,319 · management and general $827,384

  • 23 · Insurance

    total $368,949 · program services $2,864 · management and general $366,085

  • 24a · Other expenses: TAXES & OTHER EXPENSES

    total $1,620,898 · program services $1,620,898

  • 24b · Other expenses: MEMBERSHIP DUES

    total $399,743 · program services $23,147 · management and general $376,596

  • 24c · Other expenses: EDUCATION & TRAINING

    total $295,093 · program services $269,519 · management and general $25,574

  • 24d · Other expenses: COMMISSION

    total $277,342 · program services $277,342

  • 24e · All other expenses

    total -$15,511,318 · program services -$8,829,281 · management and general -$6,682,037

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $1,410,535 · end of year $1,646,964

  • 4 · Accounts receivable

    beginning of year $242,855 · end of year $157,062

  • 9 · Prepaid expenses and deferred charges

    beginning of year $1,786,096 · end of year $1,140,055

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

    $20,525,481

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

    $14,598,149

  • 10c · Land, buildings and equipment, net

    beginning of year $6,485,434 · end of year $5,927,332

  • 11 · Investments: publicly traded securities

    beginning of year $32,721,381 · end of year $23,106,251

  • 15 · Other assets

    beginning of year $13,888,605 · end of year $15,326,366

  • 17 · Accounts payable and accrued expenses

    beginning of year $7,958,644 · end of year $7,423,571

  • 19 · Deferred revenue

    beginning of year $10,219,177 · end of year $9,982,791

  • 25 · Other liabilities

    beginning of year $29,279,297 · end of year $22,658,881

  • 27 · Net assets without donor restrictions

    beginning of year $9,077,788 · end of year $7,238,787

Mission and programs · 2022

Mission

TO PROVIDE A FORUM FOR RESEARCH, PRACTICE DEVELOPMENT, EDUCATION, KNOWLEDGE SHARING, AND THE ADVOCACY OF THE HIGHEST ETHICAL AND BEST BUSINESS PRACTICES IN MANAGEMENT ACCOUNTING & FINANCE.

Activities or mission (Part I)

TO PROVIDE A FORUM FOR RESEARCH, PRACTICE DEVELOPMENT, EDUCATION, KNOWLEDGE (CONTINUED IN SCH O) SHARING AND THE ADVOCACY OF THE HIGHEST ETHICAL AND BEST BUSINESS PRACTICES IN MANAGEMENT ACCT & FINANCE.

  • MEMBERSHIP SERVICES PROVIDED OPPORTUNITIES FOR MEMBERS TO INCREASE THEIR KNOWLEDGE OF ACCOUNTING PRACTICES AND METHODS WITH EMPHASIS ON MANAGEMENT ACCOUNTING, AND TO INCREASE THEIR INDIVIDUAL CAPABILITIES. NETWORKING OPPORTUNITIES THROUGH CHAPTERS AND COUNCILS ENABLE MEMBERS TO LEARN FROM EACH OTHER AND PARTICIPATE IN LOCAL EDUCATIONAL EVENTS. ONLINE COMMUNITIES ARE ALSO PROVIDED TO CONNECT MEMBERS FROM ALL REGIONS. IN FISCAL YEAR 2023, YEAR-END MEMBERSHIP WAS 137,905.

    Expenses $11,572,596 · Grants $244,956 · Revenue $16,380,899

  • EDUCATIONAL OPPORTUNITIES ARE PROVIDED TO ASSIST INDIVIDUALS PREPARING FOR THE CERTIFICATION EXAMINATION IN MANAGEMENT ACCOUNTING, AND TO MAINTAIN PROFESSIONAL CREDENTIALS IN MANAGEMENT ACCOUNTING. IN FISCAL YEAR 2023, CONTINUING EDUCATION COURSE CREDIT HOURS PROVIDED TO MEMBERS AND THE GENERAL PUBLIC TOTALED 483,651.

    Expenses $3,250,027 · Revenue $2,393,496

  • PUBLICATION OF ACCOUNTING PERIODICALS AND LITERATURE, AND ACCOUNTING RESEARCH STATEMENTS AND POSITION, AVAILABLE TO MEMBERS AND THE GENERAL PUBLIC TO INCREASE KNOWLEDGE AND ACCESS TO INFORMATION, IN MANAGEMENT ACCOUNTING PRACTICES AND METHODS. IN FISCAL YEAR 2023, YEAR-END MEMBERSHIP WAS 137,905 AND GENERAL PUBLIC PERIODICAL AND LITERATURE PURCHASED TOTALED 7.

    Expenses $2,454,141 · Revenue $1,120

As filed on the 2022 return.

Listed in Part VII

  • Jeffrey Thomson Cma Csca Cae

    PRESIDENT & CEO

    Total calculated
    $735,445
    From this org
    $712,599
    From related orgs
    $0
    Other
    $22,846
    Hours/week
    39 + 1 related

    Schedule J breakdown matched by us

    Base
    $647,073
    Bonus
    $65,526
    Other
    $0
    Deferred
    $20,400
    Nontaxable benefits
    $2,446
    Filer's total
    $735,445

  • Michael Deprisco

    PRESIDENT & CEO (BEG 04/23)

    Total calculated
    $0
    Hours/week
    39 + 1 related

  • Gwen Van Berne Cma

    CHAIR

    Total calculated
    $0
    Hours/week
    6 + 3 related

  • Richard T Brady Cma Cgfm

    CHAIR ELECT

    Total calculated
    $0
    Hours/week
    4 + 3 related

  • J Stephen McNally Cma CPA

    CHAIR EMERITUS

    Total calculated
    $0
    Hours/week
    4 + 3 related

  • Ahmed Hassan Cma

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Ali Fatih Dalkiliccmacscacia

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Bernice Jenkins Cma CPA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Brad Ledford Cma CPA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Brigitte De Graaf Cma

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Catherine B Long Cma

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Charles R Wrightcmacgmacpa

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dana C Riesscmacfmcpacpim

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Deborah C Michalowski CPA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Derek Alan Fuzzellcmacscacpa

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Dr Di Wu Cma CPA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dr Rinku Bhattacharya Cmacpa

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Dr Roopa Venkatesh Cma

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Eric L Lenard Cma Cfm

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Fatema Elzahraa El Wakeel Cma

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Femke Aarts Cma Cfe

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Gerald T Ratiganjrcmacsca

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Hessel H F Brouwer Cma

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jane E Karli Cma

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2 + 0.5 related

  • Javvadi H Rao Cma Cfm Cia Fcma

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Jaywardhan Semwal Cma

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Joscel Barrio Delos Cielos Cma Csca

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Laurie A Bergman Cma CPA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Michael J Phillips Cma Cfm Ctp

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Pamela R Hoganscmacsca CPA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Patti A Humble Cma Cfm CPA

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Peter J Dolancmacfmcscacpa

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4 + 0.5 related

  • Qing Zhu Cma Csca

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Srikrishna Mankal Cma

    DIRECTOR, NON-VOTING

    Total calculated
    $0
    Hours/week
    2 + 2 related

  • Sunil S Deshmukh Cma Cbm

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Tony Sheung Fai Kam Cma

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Yi Zhang Cma

    DIRECTOR

    Total calculated
    $0
    Hours/week
    4

  • Zhanguang Di Cma

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Russ Porter Cma Cfm Csca

    SR VICE PRESIDENT & CFO

    Total calculated
    $431,518
    From this org
    $411,194
    From related orgs
    $0
    Other
    $20,324
    Hours/week
    38.5 + 1.5 related

    Schedule J breakdown matched by us

    Base
    $381,269
    Bonus
    $29,925
    Other
    $0
    Deferred
    $12,200
    Nontaxable benefits
    $8,124
    Filer's total
    $431,518

  • Ellen Gurevich Cae

    VICE PRESIDENT

    Total calculated
    $286,488
    From this org
    $267,288
    From related orgs
    $0
    Other
    $19,200
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $243,130
    Bonus
    $24,158
    Other
    $0
    Deferred
    $11,076
    Nontaxable benefits
    $8,124
    Filer's total
    $286,488

  • Padraig Hare Cae Cgeit

    VICE PRESIDENT (THRU 01/23)

    Total calculated
    $283,942
    From this org
    $271,132
    From related orgs
    $0
    Other
    $12,810
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $247,793
    Bonus
    $23,339
    Other
    $0
    Deferred
    $10,733
    Nontaxable benefits
    $2,077
    Filer's total
    $283,942

  • Patricia Stefanczyk Cae

    VICE PRESIDENT

    Total calculated
    $265,842
    From this org
    $249,185
    From related orgs
    $0
    Other
    $16,657
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $226,093
    Bonus
    $23,092
    Other
    $0
    Deferred
    $10,192
    Nontaxable benefits
    $6,465
    Filer's total
    $265,842

  • Loreal Jiles

    VICE PRESIDENT

    Total calculated
    $235,565
    From this org
    $218,475
    From related orgs
    $0
    Other
    $17,090
    Hours/week
    19.5 + 20.5 related

    Schedule J breakdown matched by us

    Base
    $199,332
    Bonus
    $19,143
    Other
    $0
    Deferred
    $8,966
    Nontaxable benefits
    $8,124
    Filer's total
    $235,565

  • Steve Shannon

    DIRECTOR (THRU 03/23)

    Total calculated
    $248,821
    From this org
    $235,822
    From related orgs
    $0
    Other
    $12,999
    Hours/week
    20 + 20 related

    Schedule J breakdown matched by us

    Base
    $109,037
    Bonus
    $126,785
    Other
    $0
    Deferred
    $9,535
    Nontaxable benefits
    $3,464
    Filer's total
    $248,821

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 · First-class or charter travel
  • 1a · Travel for companions
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 3 · Compensation committee
  • 3 · Independent compensation consultant
  • 3 · Form 990 of other organizations
  • 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
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
IN REGARD TO FIRST-CLASS TRAVEL, THE INSTITUTE OF MANAGEMENT ACCOUNTANTS, INC. TRAVEL POLICY STATES AIRLINE TRAVEL FOR ITINERARIES OF LESS THAN SIX HOURS WILL BE BOOKED IN COACH CLASS. BUSINESS TRAVEL MAY BE AUTHORIZED BY THE PRESIDENT WHEN THE TOTAL ELAPSED TIME IS SIX HOURS OR MORE. IN REGARDS TO COMPANION TRAVEL, THE POLICY STATES WHEN THE PRESENCE OF THE CHAIR'S SPOUSE AT AN IMA FUNCTION IS DEEMED APPROPRIATE, WITH PROPER APPROVAL BY THE GOVERNANCE COMMITTEE, THE SPOUSE'S EXPENSE WILL BE REIMBURSED UPON REQUEST ONLY IF DEEMED AN APPROPRIATE BUSINESS REASON WHERE THE CHAIR'S SPOUSE HAS ASSIGNED DUTIES TO PERFORM AS PART OF THE TRIP/FUNCTION.
SCHEDULE J, PART I, LINE 7:
AMOUNTS INCLUDED ON PART II COLUMN B(II) REPRESENT BONUS PAYMENTS. THESE AMOUNTS WERE INCLUDED IN THE INDIVIDUAL 2022 W-2S AND APPROVED BY THE BOARD.

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

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.

Taxable family on this return

Schedule R Parts I, III and IV, as filed. These record ownership and control, not shared board members or money moved.

Disregarded entities

Part I: entities that legally are the filer and file no return of their own.

  • IMA PRODUCTS & SERVICES LLC

    EDUCATION MATERIALS · NJ · income $0 · assets $0

    Directly controlled by IMA

  • INST OF MGMT ACCTS DUBAI BRANCH OFFICE

    EDCATION SUPPORT SERVICE · AE · income $0 · assets $0

    Directly controlled by IMA

  • INST OF MGMT ACCTS EUROPE OFFICE

    EDUCATION SUPPORT SERVICE · SZ · income $0 · assets $0

    Directly controlled by IMA

  • INST OF MGMT ACCTS (SHANGHAI) REP OFFICE

    EDUCATION SUPPORT SERVICE · CH · income $3,835,000 · assets $698,339

    Directly controlled by IMA

Related corporations and trusts

Part IV: related organizations taxable as a corporation or trust.

  • IMA SERVICES INC (IMAS)

    C · EDUCATION SERVICE · NJ · 100% owned · share of income $530,404 · share of assets $706,750 · controlled entity

    Directly controlled by IMA

  • INST OF MGMT ACCTS INDIA PRIVATE LTD

    C · EDUCATION SUPPORT SERVICE · IN · 1% owned · share of income $722 · share of assets $1,615 · controlled entity

    Directly controlled by ICMA

  • BEIJING IMA MANAGEMENT CONSULTING LTD

    C · EDUCATION SUPPORT SERVICE · CH

    Directly controlled by IMAS

  • IMA SOUTH EAST ASIA PTE LTD

    C · EDUCATION SUPPORT · SN · 100% owned · share of assets $159,813 · controlled entity

    Directly controlled by IMA

  • IMA EGYPT FOR CONSULTANCY

    C · EDUCATION SUPPORT · EG · 50% owned · share of assets $1,320 · controlled entity

    Directly controlled by IMAICMA

  • IMA ARABIA

    C · EDUCATION SUPPORT · SA · 100% owned · share of assets $2,156 · controlled entity

    Directly controlled by IMA

Provenance

Return type
form_990
Tax year
2022
Filed
30 April 2024
IRS schema version
2022v5.0
Source object
202431219349301688

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