International Association of Black Actuaries Inc

Nonprofit profile at a glance

EIN
364305164
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Cleveland, OH, USA
Phone
2166447953
Rating
89
Verdict
STRONG
Rating confidence
Moderate
Sector
Community Service Clubs

Official website

Reported finances

Revenue
$1,247,437
Expenses
$1,189,664
Assets
$2,797,749
Liabilities
$13,627

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

Leadership & pay

14 people listed

Executive titles in this filing

  • DWAYNE HUSBANDS (PRESIDENT)
  • STEPHEN ABROKWAH (VICE PRESIDENT)
  • CATHERINE WEAVER (INTERIM EXECUTIVE DIRECTOR)
  • JEFFREY BROWN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • JEFFREY BROWN (EXECUTIVE DIRECTOR): $111,700 total reported compensation
  • CATHERINE WEAVER (INTERIM EXECUTIVE DIRECTOR): $45,885 total reported compensation

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

Overview

Mission

Develops educational activities related to actuarial science designed to improve skills of black actuaries in the community and encourage college students to pursue studies in actuarial science.

What it reported doing in 2024

Annual bootcamp - increasing industry awareness of prospective actuarial students and positioning them for a successful actuarial internship or entry-level opportunity. Providing attendees with exposure to real world actuarial work, resources in preparing for professional exams, the soft skills needed to successfully interview for and land an internship or entry-level position as well as extended support to remain on their chosen career pathway for those who will be returning to academic programs.

Operating model

Revenue model
Donor-supported. 79% of the money available for current operations came from contributions and gifts.
Distribution model
Hybrid. The nonprofit split its reported program spending across 79% for direct work, and 21% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Expenses are high relative to revenue and reported officer compensation is a large share of total spending, which may reflect staffing concentration.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 55
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 83.3%; rating input score 83
  • Program expense ratio: 85.5%; rating input score 86
  • Fundraising efficiency: $35.83 raised per $1 spent on fundraising; rating input score 72; 72nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • 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: 4.6%; rating input score 49; 49th percentile among comparable filings
  • Total-asset coverage ratio: 2.35; rating input score 69; 69th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 74; 74th percentile among comparable filings
  • Officer compensation ratio: 13.2%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: 17% per year; rating input score 100; 78th percentile among comparable filings
  • Revenue growth: 13.4% per year; rating input score 100; 75th percentile among comparable filings
  • Asset growth: 20.8% per year; rating input score 100; 83rd percentile among comparable filings

Details

  • Where the money goes: 83.3% of revenue deployed · 85.5% of spending went to programs
  • Governance: 12 of 12 board members independent · 8 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $1M in reported program spending
  • Leadership: top reported pay $112K · 14 people listed
  • Consistency: 31 of 31 current checks pass
  • Schedules: 5 filed schedules · includes major donors and grants
  • Filing history: 11 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 2 filed money-flow records
  • Related organizations: Filed and resolved organization relationships.
  • 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.

  • Moderate — Sustainability: Operating margin scored 49/100.
  • High — Sustainability: Officer compensation ratio scored 27/100.