Insurance Marketplace Standards Association

Nonprofit profile at a glance

EIN
522019859
IRS 990 coverage
2010–2010
Forms available
Form 990 2010
Location
Bethesda, MD, USA
Phone
2407443030
Rating confidence
Limited
Sector
Professional Societies, Associations

Official website

Reported finances

Revenue
$1,444,198
Expenses
$2,258,584
Assets
$657,637
Liabilities
$74,791

Source: IRS Form 990. Selected filing: tax year 2010. Amounts in USD.

Leadership & pay

17 people listed

Source: IRS Form 990. Selected filing: tax year 2010. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To be the premier market conduct and compliance standards-setting organization serving the life insurance marketplace.

What it reported doing in 2010

Promote ethical market conduct standards: imsa continued to conduct activities in pursuit of its mission to promote ethical market conduct standards in the sale of insurance products on behalf of its membership of 95 life insurance companies.

Operating model

Revenue model
Earned-program. 91% 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: 82
  • Accountability: 86
  • Sustainability: 12
  • Growth: NotEnoughData

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; 60th percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • 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; 64th percentile among comparable filings
  • Governance controls: 6 of 9 controls in place; rating input score 67
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Pass
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -56.4%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 0.29; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 54; 54th percentile among comparable filings
  • Officer compensation ratio: 61.5%; rating input score 1; 1st percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 15 of 15 board members independent · 6 of 9 filing controls reported
  • Programs: 5 filed program accomplishments
  • Leadership: top reported pay $841K · 17 people listed · 3 of 6 pay-setting controls reported
  • Consistency: 10 of 10 current checks pass
  • Schedules: 3 filed schedules · includes executive pay
  • 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.

Key Signals

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

  • High — Sustainability: Operating margin scored 2/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.
  • High — Sustainability: Officer compensation ratio scored 1/100.
  • Review — Sustainability: Liabilities to assets ratio scored 54/100.