2022-11-10T12:54:08-06:00 2021-12-31 390859910 BAKER TILLY US LLP 1570 FRUITVILLE PIKE SUITE 400 LANCASTER PA 17601 990 2021-01-01 131860397 RISK AND INSURANCE MANAGEMENT SOCIETY INC RISK 2122869292 228 PARK AVE S PMB 23312 NEW YORK NY 100031502 GARY LABRANCHE CEO 2122869292 2022-08-29 1 GARY LABRANCHE XXX-XX-XXXX KERRI N BOGDA CPA P00760402 7177404863 X 0 AAL1 IAL1 2021 2022-09-23 18:48:47Z X RIMS GARY LABRANCHE 228 PARK AVE S PMB 23312 NEW YORK NY 100031502 21947405 0 X WWW.RIMS.ORG X 1978 IL TO EDUCATE, ENGAGE AND ADVOCATE FOR THE GLOBAL RISK COMMUNITY. 12 12 52 170 824576 0 214878 2541440 4151710 8606884 773275 1034529 8710080 85725 13849943 12268578 11000 2300 0 0 7585932 7649681 0 0 0 5865260 5645486 13462192 13297467 387751 -1028889 16803263 15569864 6176783 6219880 10626480 9349984 X THE VISION OF THE RISK AND INSURANCE MANAGEMENT SOCIETY IS TO BE THE GLOBAL LEADER IN ALL ASPECTS OF RISK MANAGEMENT. THE MISSION OF THE SOCIETY IS TO EDUCATE, ENGAGE AND ADVOCATE FOR THE GLOBAL RISK COMMUNITY. THE GOALS OF THE SOCIETY ARE TO:1) ENSURE A SUSTAINABLE AND ADAPTABLE ORGANIZATION2) EQUIP RISK PROFESSIONALS GLOBALLY TO SUCCEED IN AN EVOLVING ENVIRONMENT3) ENHANCE ENGAGEMENT WITH MEMBERS AND THE BROADER RISK COMMUNITY4) EXPAND RIMS INFLUENCE WORLDWIDE 0 0 CONFERENCE - THIS DEPARTMENT IS RESPONSIBLE FOR THE PLANNING AND PRODUCTION OF RIMS ANNUAL CONFERENCE & EXHIBITION, RIMS ERM CONFERENCE, RIMS RISK SUMMITS AND RIMS RISK FORUMS. RIMS ANNUAL CONFERENCE & EXHIBITION IS THE DEFINITIVE EVENT FOR RISK PROFESSIONALS, ATTRACTING APPROXIMATELY 10,000 RISK PROFESSIONALS (MEMBERS, NON-MEMBERS AND EXHIBITORS) WORLDWIDE. THIS PRESTIGIOUS EVENT OFFERS ITS ATTENDEES THE WIDEST RANGE OF EDUCATIONAL PROGRAMS, NETWORKING OPPORTUNITIES AND COMMUNICATIONS OF SIGNIFICANT HAPPENINGS THAT IMPACT RISK MANAGEMENT. PUBLICATIONS - RISK MANAGEMENT MAGAZINE IS RIMS' FLAGSHIP PUBLICATION. IT IS PRODUCED SIX TIMES PER YEAR 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 BUSINESS. THE MAGAZINE IS SUPPORTED BY ITS OFFICIAL BLOG, THE RISK MANAGEMENT MONITOR, 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, THE INTERNATIONAL CENTER FOR RISK MANAGEMENT AND RISK KNOWLEDGE. THESE ARE AVAILABLE TO BOTH MEMBERS AND THE GENERAL PUBLIC. 0 1 0 1 0 0 0 0 0 1 0 0 0 1 1 0 1 0 1 1 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 1 1 0 0 1 59 0 52 1 1 1 1 CA 0 0 0 0 0 0 X 12 12 0 0 1 0 1 1 1 1 1 0 1 1 1 1 1 1 1 1 1 0 0 X GARY LABRANCHE CEO 2122869292 228 PARK AVE S PMB 23312 NEW YORK NY 100031502 ELLEN DUNKIN PRESIDENT 5.00 0.00 X X 0 0 0 PATRICK STERLING VICE-PRESIDENT 5.00 0.00 X X 0 0 0 JENNIFER SANTIAGO TREASURER 5.00 0.00 X X 0 0 0 DAVID ARICK SECRETARY 5.00 0.00 X X 0 0 0 KEVIN BATES DIRECTOR 5.00 0.00 X 0 0 0 PENNI CHAMBERS DIRECTOR 5.00 0.00 X 0 0 0 BARRY DILLARD DIRECTOR 5.00 0.00 X 0 0 0 TWANE DUCKWORTH DIRECTOR 5.00 0.00 X 0 0 0 CHRISTINA GARDNER DIRECTOR 5.00 0.00 X 0 0 0 CHRISTY KAUFFMAN DIRECTOR 5.00 0.00 X 0 0 0 LAURA LANGONE DIRECTOR 5.00 0.00 X 0 0 0 GARY NESBIT DIRECTOR TO JUNE 2021 5.00 0.00 X 0 0 0 KRISTEN PEED DIRECTOR 5.00 0.00 X 0 0 0 ROBERT ZHANG DIRECTOR TO MAY 2021 5.00 0.00 X 0 0 0 MARY ROTH CHIEF EXECUTIVE OFFICER 35.00 0.00 X 371062 0 46049 KATHERINE GLEDHILL CHIEF FINANCIAL OFFICER 34.00 1.00 X 172481 0 11065 ANNETTE HOMAN CHIEF OPERATING OFFICER 34.00 1.00 X 218210 0 35125 MARK PRYSOCK GENERAL COUNSEL 34.00 1.00 X 218395 0 25000 MICHAEL PETERS CHIEF TECHNOLOGY OFFICER 35.00 0.00 X 198209 0 43376 SORAYA WRIGHT VP-STRATEGIC INITIATIVES 35.00 0.00 X 187071 0 32218 STUART RUFF-LYON VP-EVENTS 35.00 0.00 X 151647 0 20995 STEVEN CHOU VP-GLOBAL INITIATIVES 35.00 0.00 X 152059 0 18875 RICHARD OFOSU LEAD NET DEVELOPER 35.00 0.00 X 132985 0 17883 GINA BOYLE CONTROLLER 35.00 0.00 X 123442 0 7407 ROHIT PALRECHA SR DATA ANALYTICS MANAGER 35.00 0.00 X 123004 0 39396 EDWARD DONOVAN SR BUSINESS DEV MANAGER 35.00 0.00 X 119681 0 38086 2168246 0 335475 19 0 1 0 FREEMAN 6320 EAST STASSNEY LANE STE 375 AUSTIN TX 78744 CONFERENCE LOGISTICS/MANAGEMENT 480115 DENISE CAHILL POB 2103 DES PLAINES IL 60017 INSTRUCTIONAL DESIGN-EDUCATION MATERIALS 137006 MCINTYRE & LEMON PLLC 1155 15TH ST STE 1101 WASHINGTON DC 20005 ADVOCACY - RESEARCH, LEGISLATIVE 136172 HIGHER LOGIC 1919 N LYNN ST STE 500 ARLINGTON VA 22209 SYSTEM PROVIDER 123728 SAFEGUARD GLOBAL SUITE 3-5 EDWIN FODEN BUSINESS CENT SANDBACH UK CW11 3AE GLOBAL EMPLOYMENT ORGANIZATION 117046 12 42590 2398850 100000 2541440 CONFERENCE/SEMINARS 900099 3371415 3371415 MEMBERSHIP DUES 900099 1962837 1962837 PROFESSIONAL DEVELOPMENT 541900 1109322 1109322 ADVERTISING 541800 971401 194000 777401 PUBLICATIONS 511120 645241 645241 546668 546668 8606884 158068 158068 10555288 9678827 876461 876461 876461 RIMS CAREER CENTER 900009 47175 47175 EMPLOYEE BENEFIT REIMBURSEMENT 900099 16965 16965 EARLY PAY DISCOUNTS 900099 7984 7984 13601 13601 85725 12268578 7829483 824576 1073079 2300 1730903 4520913 11522 930801 455542 74280 124942 234414 41279 373273 232226 1191863 519038 851939 21157 1184677 185824 297027 MINOR EQUIPMENT 157196 DUES & SUBSCRIPTIONS 110533 MISCELLANEOUS 19300 SUPPLIES 17799 8719 13297467 977659 2600901 1298402 576972 465310 472515 742502 800382 4231592 3738269 663969 493323 8514032 9732647 605817 614214 3535572 278910 16803263 15569864 664799 555544 4608285 4856979 903699 807357 6176783 6219880 X 10626480 9349984 10626480 9349984 16803263 15569864 X -1028889 -251675 4068 X 0 1 X 1 0 RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 0 2562871 234414 234414 255825 -21411 252931 58642 194289 835357 834433 924 3143304 2845194 298110 493323 DEFERRED RENT 654457 DUE TO/FROM GRMI 63231 LIABILITY FOR CHAPTER INVESTMENTS 89669 807357 X 11979692 -251675 -37211 -288886 12268578 0 12268578 13256188 0 13256188 41279 41279 13297467 PART X, LINE 2: UNDER ASC 740, INCOME TAXES, AN ORGANIZATION MUST RECOGNIZE THE TAX BENEFIT ASSOCIATED WITH TAX POSITIONS TAKEN FOR TAX RETURN PURPOSES WHEN IT IS MORE-LIKELY-THAN-NOT THAT THE POSITION WILL NOT BE SUSTAINED UPON EXAMINATION BY A TAXING AUTHORITY. THE ORGANIZATION DOES NOT BELIEVE IT HAS TAKEN ANY MATERIAL UNCERTAIN TAX POSITIONS AND, ACCORDINGLY, IT HAS NOT RECORDED ANY LIABILITY FOR UNRECOGNIZED TAX BENEFITS. THE ORGANIZATION HAS FILED FOR, AND RECEIVED, INCOME TAX EXEMPTIONS IN THE JURISDICTIONS WHERE IT IS REQUIRED TO DO SO. ADDITIONALLY, THE ORGANIZATION HAS FILED IRS FORM 990 INFORMATION RETURNS, AS REQUIRED, AND ALL OTHER APPLICABLE RETURNS IN JURISDICTIONS WHERE SO REQUIRED. FOR THE YEAR ENDED DECEMBER 31, 2021, THERE WERE NO INTEREST OR PENALTIES NECESSARY TO BE RECORDED OR INCLUDED IN THE CONSOLIDATED STATEMENT OF ACTIVITIES. PART XI, LINE 2D - OTHER ADJUSTMENTS: INVESTMENT EXPENSES -41,279. FOREIGN CURRENCY EXCHANGE GAIN 4,068. EAST ASIA AND THE PACIFIC 0 0 SOCIAL MEDIA FEED, LEGAL FEES, TAX FILINGS, REGISTERED AGENT, AUDIT SERVICES, TAXES PAID BUSINESS DEVELOPMENT 26874 EUROPE (INCLUDING ICELAND & GREENLAND) 0 2 BUSINESS DEVELOPMENT BUSINESS DEVELOPMENT 491347 NORTH AMERICA 0 0 INSURANCE, TAX FILINGS, EVENTS STUDENT INITIATIVES 5325 SOUTH ASIA 0 0 MARKETING, EVENTS, COURSE INSTRUCTOR FEE, MANUALS FOR EDUCATION COURSE EVENTS 10744 0 2 0 0 0 2 534290 0 534290 0 0 0 0 0 0 PART III ACCOUNTING METHOD: X X X X 0 0 0 MARY ROTH CHIEF EXECUTIVE OFFICER 371062 0 0 0 0 0 22264 0 23785 0 417111 0 0 0 ANNETTE HOMAN CHIEF OPERATING OFFICER 218210 0 0 0 0 0 13093 0 22032 0 253335 0 0 0 MARK PRYSOCK GENERAL COUNSEL 218395 0 0 0 0 0 13104 0 11896 0 243395 0 0 0 MICHAEL PETERS CHIEF TECHNOLOGY OFFICER 198209 0 0 0 0 0 11893 0 31483 0 241585 0 0 0 SORAYA WRIGHT VP-STRATEGIC INITIATIVES 187071 0 0 0 0 0 11224 0 20994 0 219289 0 0 0 KATHERINE GLEDHILL CHIEF FINANCIAL OFFICER 172481 0 0 0 0 0 10349 0 716 0 183546 0 0 0 STUART RUFF-LYON VP-EVENTS 151647 0 0 0 0 0 9099 0 11896 0 172642 0 0 0 STEVEN CHOU VP-GLOBAL INITIATIVES 152059 0 0 0 0 0 9124 0 9751 0 170934 0 0 0 ROHIT PALRECHA SR DATA ANALYTICS MANAGER 123004 0 0 0 0 0 7380 0 32016 0 162400 0 0 0 EDWARD DONOVAN SR BUSINESS DEV MANAGER 119681 0 0 0 0 0 7181 0 30905 0 157767 0 0 0 RICHARD OFOSU LEAD NET DEVELOPER 132985 0 0 0 0 0 7979 0 9904 0 150868 0 0 0 FORM 990, PART VI, SECTION A, LINE 4 THE BOARD APPROVED AN UPDATE TO ARTICLE 5.1, "CHIEF EXECUTIVE OFFICER", WHICH CHANGES THE EMPLOYMENT TERMS OF THE CEO FROM EMPLOYMENT AT WILL WITH EMPLOYMENT STATUS DETERMINED BY THE SOCIETY'S BYLAWS AND EXECUTIVE COMMITTEE/BOARD ASSESSMENTS TO REQUIRE THE INCOMING CEO TO SIGN AN EMPLOYMENT CONTRACT WHICH LAYS OUT THE RIGHTS OF BOTH THE SOCIETY AND THE CEO. FORM 990, PART VI, SECTION A, LINE 6 RISK AND INSURANCE MANAGEMENT SOCIETY, INC. IS A MEMBERSHIP ORGANIZATION. MEMBERSHIP TYPES ARE PROFESSIONAL (EMPLOYED WITH RISK RESPONSIBILITIES), ASSOCIATE (VENDOR TO RISK MANAGEMENT PROFESSION), STUDENT (FULL TIME STUDENT MAJORING IN RISK MANAGEMENT, INSURANCE OR BUSINESS), EDUCATIONAL (PROFESSOR IN A PROGRAM PROVIDING RISK MANAGEMENT, INSURANCE OR BUSINESS EDUCATION) RETIRED, AND TRANSITIONAL (MEMBER WHO LOST EMPLOYMENT), INDIVIDUAL (EMPLOYED WITH RISK RESPONSIBILITIES, BUT JOIN SEPARATE FROM THEIR ORGANIZATION). FORM 990, PART VI, SECTION A, LINE 7A ORGANIZATIONAL MEMBERS ELECT THE BOARD OF DIRECTORS. FORM 990, PART VI, SECTION A, LINE 7B CHANGES TO THE BYLAWS REQUIRE APPROVAL BY THE VOTING (ORGANIZATIONAL) MEMBERS. FORM 990, PART VI, SECTION B, LINE 11B THE FORM 990 IS PREPARED BY A NATIONALLY RECOGNIZED ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S MANAGEMENT. THE DRAFT FORM 990 IS REVIEWED BY THE ORGANIZATION'S MANAGEMENT. AFTER REVIEW THE FORM 990 IS THEN PROVIDED TO ALL MEMBERS OF THE BOARD OF DIRECTORS BEFORE IT IS FILED WITH THE INTERNAL REVENUE SERVICE. FORM 990, PART VI, SECTION B, LINE 12C BOARD MEMBERS AND EMPLOYEES ARE REQUIRED TO SIGN CONFLICT OF INTEREST STATEMENTS UPON APPOINTMENT AND HIRE. GENERAL COUNSEL REVIEWS CONTRACTS BEFORE THEY ARE EXECUTED. AS PART OF THAT REVIEW, QUESTIONS MAY ARISE REGARDING THE OTHER PARTY'S KEY STAKEHOLDERS. IF A CONFLICT IS IDENTIFIED, THE GENERAL COUNSEL WILL CONTACT THE RIMS VOLUNTEER WITH THE POTENTIAL CONFLICT, QUESTION HIM/HER ABOUT THE POTENTIAL CONFLICT, AND THEN RELAY ANY INFORMATION TO THE AUDIT COMMITTEE. OF NOTE: WE HAVE NOT ENCOUNTERED ANY CONFLICTS OF INTEREST TO DATE. THE POLICY APPLIES TO DIRECTORS, OFFICERS, COMMITTEE AND COUNCIL VOLUNTEERS, AND KEY STAFF MEMBERS. AS PREVIOUSLY STATED, THE GENERAL COUNSEL WILL MAKE AN INITIAL DETERMINATION ABOUT A POTENTIAL CONFLICT, AFTER WHICH IT WOULD BE FORWARDED TO THE AUDIT COMMITTEE FOR REVIEW. IF A CONFLICT OF INTEREST IS IDENTIFIED, THE INDIVIDUAL WITH THE CONFLICT WILL BE ASKED TO RECUSE HIMSELF/HERSELF FROM ANY DELIBERATIONS OR DECISIONS RELATED TO THE BUSINESS TRANSACTION. IF THE CONFLICT IS DEEMED SUBSTANTIAL, THE INDIVIDUAL MAY BE ASKED TO RESIGN HIS/HER VOLUNTEER POSITION WITH RIMS. FORM 990, PART VI, SECTION B, LINE 15A THE ORGANIZATION'S EXECUTIVE COMMITTEE REVIEWS AND APPROVES CHANGES TO THE CHIEF EXECUTIVE OFFICER'S COMPENSATION. RIMS CONTRACTS WITH A THIRD PARTY TO REVIEW AND DETERMINE THE COMPETITIVENESS OF THE BASE SALARY AND TOTAL COMPENSATION PROPOSED FOR THE CEO IN RELATION TO PEER ORGANIZATIONS, OTHER NOT-FOR-PROFIT ORGANIZATIONS, AND, AS APPROPRIATE, FOR-PROFIT ENTITIES. THE THIRD PARTY PROVIDED INFORMATION REGARDING THE REASONABLENESS AND APPROPRIATENESS OF TOTAL COMPENSATION PROVIDED TO THE CEO TO DETERMINE COMPLIANCE WITH INTERMEDIATE SANCTIONS REGULATIONS. FORM 990, PART VI, SECTION C, LINE 19 THE ORGANIZATION MAKES ITS FINANCIAL STATEMENTS AVAILABLE TO THE PUBLIC UPON REQUEST. FORM 990, PART XI, LINE 9: FOREIGN CURRENCY EXCHANGE 4,068. GLOBAL RISK MANAGEMENT INSTITUTE INC 228 PARK AVE S PMB 23312 NEW YORK NY 100031502 134059911 PROFESSIONAL DEVELOPMENT NY 501(C)(3) LINE 7 RIMS 1 0 0 1 0 0 0 0 0 0 0 0 1 0 0 0 1 1 1 1