Risk and Insurance Management Society Inc

Nonprofit profile at a glance

EIN
131860397
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-N 2021
Location
New York, NY, USA
Phone
2122869292
Rating confidence
Limited

Official website

Reported finances

Revenue
$21,678,293
Expenses
$20,571,061
Assets
$22,200,138
Liabilities
$15,537,452

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

Leadership & pay

25 people listed

Executive titles in this filing

  • DAVID ARICK (PRESIDENT)
  • KRISTEN PEED (VICE PRESIDENT)
  • GARY LABRANCHE (CHIEF EXECUTIVE OFFICER)

Highest reported compensation

  • GARY LABRANCHE (CHIEF EXECUTIVE OFFICER): $642,976 total reported compensation
  • MICHAEL PETERS (CHIEF TECHNOLOGY OFFICER): $325,368 total reported compensation
  • ANNETTE HOMAN (CHIEF OPERATING OFFICER): $312,584 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 risk and insurance management society, inc. Empowers risk professionals to make the world safer, more secure, and more sustainalbe.rims conferences deliver premier risk management education through expert speakers, practical presentations, and peer knowledge sharing. This program oversees the planning and production of riskworld - the flagship annual conference & exhibition - along with the erm conference and the annual canada conference. Riskworld is the leading event for risk professionals, attracting nearly 9,000 attendees worldwide in 2022 and over 10,000 in 2024, featuring in-depth learning for all career levels and a dynamic marketplace with 400+ exhibitors.

What it reported doing in 2024

Publications - risk management magazine is rims' flagship publication and includes articles of interest to professionals responsible for risk and insurance management in business and industrial firms, public administration and government, insurance companies, agents and brokers, business services and others allied to the field. By providing in-depth analysis of the world of risk, risk management magazine is a vital source of pertinent information for risk professionals and those who engage with risk professionals. The digital magazine is published 12 times annually and is supported by an online site containing robust digital content and the risk management monitor blog, which offers daily coverage and analysis of the latest risk-related news and issues. Risk-wire, distributed twice per week, is an exclusive news service for rims members that provides an executive summary and links to the most important risk management stories of the day. Additional online resources that provide today's risk professionals with knowledge, tools and resources they need to be successful include the strategic & enterprise risk center and risk knowledge searchable content library which are available to both members and the general public. Additionally, this area encompasses rims strategic initiatives and enterprise risk practice which enlarges the value proposition for risk management as a strategic business discipline to encompass value creation and capture (the upside of uncertainty), as well as value protection (the downside of uncertainty). In leading new research and the development of innovative, yet pragmatic, strategic and operational risk practices that are applicable across all types of organizations, the practice's main objective is to drive incremental and recurring revenue streams for rims by broadening its membership and delivering specific products and services that provide unique and practical value for its current and new members. In 2021, rims brought its rims risk maturity model in house, enhancing the interactive model which focuses on the elements and characteristics considered important for maturing risk management capabilities. The model, built by risk professionals for risk professionals, was enhanced using rims subject matter experts and external software developers.

Operating model

Revenue model
Other-operating. 98% of the money available for current operations came from other operating 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: 69
  • Accountability: 91
  • Sustainability: 40
  • 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; 62nd percentile among comparable filings
  • Pay-setting controls: 1 of 6 controls in place; rating input score 17
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: 2 of 8 controls in place; rating input score 25
    • Claims monitoring procedures: Pass
    • Requires narrative reports: Limited
    • Conducts field audits: Limited
    • May suspend future funding: Limited
    • Requires financial reports: Limited
    • Conducts site visits: Limited
    • Requires grant agreements: Pass
    • May require repayment: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Limited
  • Related-party transparency: Yes; rating input score 100

Accountability

  • Independent voting board: 92.9%; rating input score 93; 25th percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 5.1%; rating input score 54; 54th percentile among comparable filings
  • Total-asset coverage ratio: 1.08; rating input score 39; 39th percentile among comparable filings
  • Liabilities to assets ratio: 0.7; rating input score 18; 18th percentile among comparable filings
  • Officer compensation ratio: 16.3%; rating input score 7; 7th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 2.4% per year; rating input score 100; 21st percentile among comparable filings
  • Asset growth: 2% per year; rating input score 100; 17th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 13 of 14 board members independent · 8 of 9 filing controls reported
  • Programs: 6 filed program accomplishments
  • Leadership: top reported pay $643K · 25 people listed · 1 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $2.9M reported
  • Consistency: 17 of 17 current checks pass
  • Schedules: 7 filed schedules · includes foreign activity, grants, executive pay, and related organizations
  • Filing history: 11 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Money network: 16 filed money-flow records
  • Related organizations: 4 filed related-organization links
  • 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 54/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • Moderate — Sustainability: Total-asset coverage ratio scored 39/100.
  • High — Sustainability: Officer compensation ratio scored 7/100.
  • High — Sustainability: Liabilities to assets ratio scored 18/100.