State Risk & Insurance Management Association

Nonprofit profile at a glance

EIN
010442447
IRS 990 coverage
2010–2025
Forms available
Form 990 2025
Location
Bismarck, ND, USA
Phone
6015762553
Rating
84
Verdict
STRONG
Rating confidence
Moderate
Sector
Professional Societies, Associations

Official website

Reported finances

Revenue
$378,744
Expenses
$427,781
Assets
$344,731
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2025. Amounts in USD.

Leadership & pay

12 people listed

Executive titles in this filing

  • WADE DAMRON (PRESIDENT EL)
  • JANET MORROW (PRESIDENT)

People named in this filing

  • NATHAN CULP (PAST PRESIDE)
  • WADE DAMRON (PRESIDENT EL)
  • LEON ELLIS (COST OF RISK)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2025. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To bring together risk and insurance magers of state governments into a organization to promote the advancement of risk management principles and practices in the public sector by exchanging information, facilitating traiining opportunities and promoting the highest level of professional and ethical standards among its membership.

What it reported doing in 2025

The primary activity of the organization is the state risk & insurance management association annual conference, which is an educational seminar for the organization's members.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 86
  • Transparency & Controls: 92
  • Accountability: 76
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 90.4%; rating input score 90
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 64th percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -12.9%; rating input score 16; 16th percentile among comparable filings
  • Total-asset coverage ratio: 0.81; rating input score 35; 35th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 77; 77th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 67; 67th percentile among comparable filings

Growth

  • Program expense growth: 6.8% per year; rating input score 100; 58th percentile among comparable filings
  • Revenue growth: 4.1% per year; rating input score 100; 43rd percentile among comparable filings
  • Asset growth: 6.8% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 90.4% of spending went to programs
  • Governance: 12 of 12 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $387K in reported program spending
  • Leadership: top reported pay $0 · 12 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 15 filing years from 2010 to 2025
  • Contacts: How to reach this organization
  • 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 — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Operating margin scored 16/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 35/100.