Inland Marine Underwriters Association
Nonprofit profile at a glance
- EIN
- 135564002
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- New York, NY, USA
- Phone
- 2122330550
- Rating confidence
- Limited
Reported finances
- Revenue
- $1,639,226
- Expenses
- $1,535,181
- Assets
- $1,465,954
- Liabilities
- $279,889
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
20 people listed
Executive titles in this filing
- LILLIAN COLSON (VICE PRESIDENT/SECRETARY)
- KEVIN O'BRIEN (PRESIDENT/CEO)
Highest reported compensation
- KEVIN O'BRIEN (PRESIDENT/CEO): $306,968 total reported compensation
- LILLIAN COLSON (VICE PRESIDENT/SECRETARY): $222,165 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
Inland marine underwriters association's (imua) mission is to champion the interests of inland marine insurance industry and foster the education and development of industry professionals.
What it reported doing in 2024
Web seminars and virtual classes/forums - about 12 -18 in a calendar year, a volunteer-based regional committee and/or technical committees arrange for a web seminar, typically 60-75 minutes in duration where geographically remote sites across the u.s., and sometimes internationally, can log into the audio/visual presentation on a topical issue usually presented by a non-insurance expert, e.g. Hurricanes and the impact on levees. Registration is complimentary to imua members and there may be more than one member in attendance at each site. Member companies find this is a cost effective and efficient way to provide education and technical information to their employees (there is no additional cost to attend webinars as all access to all virtual programs is now included in imua's company membership fee. In 2024, imua presented 12 educational webinars and 5 virtual classes with each session attracting an average of 300 registrants for a duration of 60 to 75 minutes for webinars and 3 hours for the virtual classes/forums.
Operating model
- Revenue model
- Earned-program. 98% 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: 100
- Sustainability: 41
- 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: 8 of 8 controls in place; rating input score 100
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Pass
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 6.3%; rating input score 53; 53rd percentile among comparable filings
- Total-asset coverage ratio: 0.95; rating input score 41; 41st percentile among comparable filings
- Liabilities to assets ratio: 0.19; rating input score 32; 32nd percentile among comparable filings
- Officer compensation ratio: 34.5%; rating input score 5; 5th percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 3.5% per year; rating input score 100; 34th percentile among comparable filings
- Asset growth: 5.1% per year; rating input score 100; 39th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 16 of 16 board members independent · 8 of 8 filing controls reported
- Programs: 4 filed program accomplishments
- Leadership: top reported pay $307K · 20 people listed · 2 of 6 pay-setting controls reported
- Consistency: 12 of 12 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: 2 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 — Sustainability: Operating margin scored 53/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 41/100.
- High — Sustainability: Officer compensation ratio scored 5/100.
- Moderate — Sustainability: Liabilities to assets ratio scored 32/100.