American Institute of Marine Underwriters

Nonprofit profile at a glance

EIN
134962540
IRS 990 coverage
2010–2024
Forms available
Form 990 2024
Location
New York, NY, USA
Phone
2122330550
Rating confidence
Limited

Official website

Reported finances

Revenue
$1,429,919
Expenses
$1,520,578
Assets
$1,077,495
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

51 people listed

Executive titles in this filing

  • JOHN MIKLUS (PRESIDENT)

Highest reported compensation

  • JOHN MIKLUS (PRESIDENT): $341,390 total reported compensation
  • EILEEN MONREALE (EDUCATION SPECIALIST): $151,375 total reported compensation
  • ELVIRA RODIN (OFFICE MANAGER): $121,665 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The american institute of marine underwriters ("aimu") has over 100 years of service as the trade association representing the united states ocean marine insurance industry as an advocate, educator and information center. Aimu provides an active program of support services to assist the u.s. Marine insurance industry in providing its global customers with a level of performance unsurpassed in the world. Its worldwide network of surveyors (correspondents) AIDS its members in handling claims with speed and efficiency. Aimu publishes a weekly bulletin, which provides its members with current information on maritime matters, media reports, legislation and court decisions. Through its educational programs, aimu fosters the highest standards of professionalism, stimulates creativity and innovation and enhances the industry's traditional commitment to service.

What it reported doing in 2024

Aimu gathers and disseminates information regarding ocean marine insurance to its members while promoting, protecting, and advancing their views and interests through committee work. Aimu provides a forum for discussion and dissemination of specific matters of mutual interest.three largest aimu events in 2024: marine insurance issues seminar - may 15: the number of attendees is 126. This was the luncheon honoring women in marine insurance leadership and providing an opportunity to network and hear from female leaders in the industry.four panelists, dynamic and well-respected leaders in the marine insurance industry, shared their personal journeys and discussed obstacles, as well as vehicles, for empowerment. They provided their view of the marine insurance industry in the next 3-5 years, and offered ideas for managing work-life balance, reducing stress, networking, and building a supportive community. Aimu annual dinner - november 6: the number of attendees 576. Aimu members celebrated the aimu 126th anniversary with a gala dinner event held at pier sixty in New York city, preceded by an annual general meeting that same morning held at aon meeting event space attended by just over 150 members. The annual dinner is more of a social and networking event, while the annual general meeting is a recap and look forward on the activities of aimu during the year.aimu marine insurance day seminar - october 3: the number of attendees was 133. This annual one-day fall seminar includes presentations on various topics relevant to the marine insurance industry. It has educational value as well as providing a networking opportunity for aimu members and was held at baruch college in New York city.

Operating model

Revenue model
Earned-program. 85% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 71
  • Accountability: 84
  • Sustainability: 31
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Pass
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -6.3%; rating input score 22; 22nd percentile among comparable filings
  • Total-asset coverage ratio: 0.71; rating input score 32; 32nd percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 91; 91st percentile among comparable filings
  • Officer compensation ratio: 40.4%; rating input score 3; 3rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 0.1% per year; rating input score 100; 15th percentile among comparable filings
  • Asset growth: 3.7% per year; rating input score 100; 33rd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 41 of 41 board members independent · 5 of 8 filing controls reported
  • Programs: 4 filed program accomplishments
  • Leadership: top reported pay $341K · 51 people listed · 2 of 6 pay-setting controls reported
  • Highest-paid contractors: 2 contractors listed · $351K reported
  • Consistency: 11 of 11 current checks pass
  • Schedules: 4 filed schedules · includes executive pay
  • Filing history: 14 filing years from 2010 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 22/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 32/100.
  • High — Sustainability: Officer compensation ratio scored 3/100.