2021-11-03T15:19:42-05:00 2020-12-31 BDO USA LLP 100 PARK AVENUE NEW YORK NY 100175001 990 2020-01-01 131860397 RISK AND INSURANCE MANAGEMENT SOCIETY INC % MARY ROTH RISK 2122869292 1407 BROADWAY 29TH FLOOR NEW YORK NY 10018 MARY ROTH CEO 2126553060 2021-11-02 true MARY ROTH XXX-XX-XXXX Paul Hammerschmidt P01384178 2128858000 2 2020 2022-09-23 18:48:47Z RIMS MARY ROTH 1407 BROADWAY 29TH FLOOR NEW YORK NY 10018 13849943 false X WWW.RIMS.ORG X 1978 IL TO EDUCATE, ENGAGE AND ADVOCATE FOR THE GLOBAL RISK COMMUNITY 13 13 55 164 296771 0 145000 214878 14413333 4151710 1038782 773275 1205486 8710080 16802601 13849943 667276 11000 0 0 7922030 7585932 0 0 0 10687856 5865260 19277162 13462192 -2474561 387751 17165187 16803263 7366984 6176783 9798203 10626480 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 ORGANIZATION 2) EQUIP RISK PROFESSIONALS GLOBALLY TO SUCCEED IN AN EVOLVING ENVIRONMENT 3) ENHANCE ENGAGEMENT WITH MEMBERS AND THE BROADER RISK COMMUNITY 4) EXPAND RIMS INFLUENCE WORLDWIDE false false 0 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 (member, 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. 0 0 0 Marketing - RIMS employs a centralized approach to its marketing and communications efforts, and has unified this service for all its products, services and events under a single division. This methodology enables RIMS to maximize its impact and make the best use of its budget by cross-marketing its strategic objectives in all its communications efforts. Marketing programs involve an integrated approach primarily focused on electronic, web-based and print materials and communications, social media, advertising, publishing, and media relations. RIMS Marketing also supports RIMS Marketplace, an online directory of relevant service and solution providers. Using this approach, the department fulfills its mandate to expand awareness of risk management to a broad audience. 0 0 0 Publications - Risk Management magazine is RIMS's flagship publication. It is produced ten 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 false true false true false false false false false true false false true true true false true false false true false false false false false false true false true false false false false false false false false false false false true true false false true 63 0 true 55 true true true true CA false false false false false false X 13 13 false false false false true true true true true false true true true true true true true true true false false X MARY ROTH 2126553060 1407 BROADWAY 29TH FLOOR NEW YORK NY 10018 X MARY ROTH EXECUTIVE DIRECTOR/CEO 35.0 0.0 X 420053 0 46543 Annette Homan Chief Operating Officer 35.0 5.0 X 250552 0 49589 Michael Peters VP - Information Technology 35.0 0.0 X 223974 0 47505 Mark Prysock General Counsel 35.0 1.0 X 240195 0 24796 Carol Fox VP - Strategic Initiatives 35.0 0.0 X 191689 0 23956 Stephen Chou VP - Global Development 35.0 0.0 X 169200 0 20162 Stuart Ruff-Lyon VP - Events 35.0 0.0 X 169504 0 18867 Katherine Gledhill VP - Finance & Accounting 35.0 1.0 X 173500 0 9946 Laura Langone President, EFF. 1/20 5.0 0.0 X X 0 0 0 Ellen R Dunkin Vice President, EFF. 1/20 5.0 0.0 X X 0 0 0 Patrick Sterling Treasurer, EFF. 1/20 5.0 0.0 X X 0 0 0 Jennifer Santiago Secretary, EFF. 1/20 5.0 0.0 X X 0 0 0 Gloria Brosius Ex Officio, EFF. 1/20 5.0 0.0 X X 0 0 0 David Arick Director 5.0 0.0 X 0 0 0 Barry Dillard Director, EFF. 1/20 5.0 0.0 X 0 0 0 Twane Duckworth FROM 120 Director 5.0 0.0 X 0 0 0 Christina Gardiner FROM 120 Director 5.0 0.0 X 0 0 0 Gary Nesbit Director 5.0 0.0 X 0 0 0 Soubhagya Parija Director 5.0 0.0 X 0 0 0 Kristen Peed Director 5.0 0.0 X 0 0 0 Robert Zhang Director 5.0 0.0 X 0 0 0 1838667 0 241364 25 false true false FREEMAN 6320 East Stassney Lane Suite 375 AUSTIN TX 78744 EVENT MANAGEMENT 378536 1 180281 34597 214878 MEMBERSHIP DUES 900099 2101433 2101433 PUBLICATIONS 511120 736083 580337 155746 CONFERENCE/SEMINARS 900099 658578 637053 21525 EDUCATION, CERTIFICATION, AND GRMI 611430 402191 402191 MEMBERSHIP AND CHAPTER SERVICES 541990 253425 253425 4151710 120364 120364 0 0 0 0 0 652911 652911 652911 652911 0 0 0 0 0 0 0 0 0 INS. PROCEEDS-CANCEL. OF ANNUAL CONFER. 900099 7555307 7555307 ADMINISTRATIVE FEES 561000 619244 619244 ADVERTISING 541800 155746 119500 36246 379783 379783 8710080 13849943 4593683 296771 8744611 11000 0 0 0 925677 0 4984427 47903 1183363 444562 0 55185 157633 233237 0 45060 126711 388797 1296186 670366 0 0 42037 0 1361809 0 0 214261 228438 EDITORIAL & CIRCULATION EXP. 233638 MEMBERSHIP EXPENSES 134453 HR & OTHER PERSONNEL COSTS 98772 DUES & SUBSCRIPTIONS 81082 497595 13462192 1378131 977659 377250 1298402 0 0 739993 465310 0 0 0 0 0 0 0 0 1280637 742502 5684734 5020765 848229 663969 11975567 8514032 0 0 0 0 565380 605817 0 3535572 17165187 16803263 1418318 664799 0 0 4888685 4608285 0 0 0 0 0 0 0 0 0 0 1059981 903699 7366984 6176783 X 9798203 10626480 0 0 9798203 10626480 17165187 16803263 X 387751 445007 -4481 X false true X true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED false false false 2795897 233237 233237 391426 -158189 0 252931 42234 210697 1190093 1163915 26178 4241710 3814616 427094 663969 INSURANCE PROCEEDS RECEIVABLE 3535572 3535572 0 DEFERRED RENT PAYABLE 621115 CONTRIBUTIONS TO AFFILIATES 200000 LIABILITY FOR CHAPTER INVESTMENTS 82584 903699 X 14249890 445007 445007 13804883 45060 45060 13849943 13417132 13417132 45060 45060 13462192 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. RISK AND INSURANCE MANAGEMENT SOCIETY, INC. 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, 2020, THERE WERE NO INTEREST OR PENALTIES RECORDED OR INCLUDED IN THE CONSOLIDATED STATEMENT OF ACTIVITIES. THE ORGANIZATION IS SUBJECT TO ROUTINE AUDITS BY A TAXING AUTHORITY. AS OF DECEMBER 31, 2020, THE ORGANIZATION WAS NOT SUBJECT TO ANY EXAMINATION BY A TAXING AUTHORITY. Europe (Including Iceland and Greenland) Program Services BUSINESS DEVELOPMENT 74342 East Asia and the Pacific Program Services BUSINESS DEVELOPMENT 46275 Central America and the Caribbean Program Services EVENTS 15000 North America Program Services STUDENT INITIATIVES 13269 South Asia 3 Program Services EVENTS 5607 3 3 154493 154493 false false false false false false true Insurance Industry Charitable Foundation 1999 Ave of the Stars los angeles CA 90067 201240972 501(c)(3) 6000 board 1 PART I, LINE 2: GRANTS ARE ACCOUNTED FOR IN THE GENERAL LEDGER AND MONITORED BY THE FINANCE DEPARTMENT. X X true true X X X X false false false MARY ROTH EXECUTIVE DIRECTOR/CEO 383553 0 36500 0 0 0 22408 0 24135 0 466596 0 0 0 Annette Homan Chief Operating Officer 227252 0 23300 0 0 0 14567 0 35022 0 300141 0 0 0 Mark Prysock General Counsel 222695 0 17500 0 0 0 12948 0 11848 0 264991 0 0 0 Michael Peters VP - Information Technology 205574 0 18400 0 0 0 13070 0 34435 0 271479 0 0 0 Carol Fox VP - Strategic Initiatives 173489 0 18200 0 0 0 11137 0 12819 0 215645 0 0 0 Stuart Ruff-Lyon VP - Events 155104 0 14400 0 0 0 7019 0 11848 0 188371 0 0 0 Stephen Chou VP - Global Development 155000 0 14200 0 0 0 8840 0 11322 0 189362 0 0 0 Katherine Gledhill VP - Finance & Accounting 160000 0 13500 0 0 0 9278 0 668 0 183446 0 0 0 PART I, LINE 1A: The board President is allowed to bring a companion on two international trips per year. The board President is issued a 1099 for such expenses. FORM 990, PART III, LINE 4D: a) Events - This department plans and produces RIMS Annual Conference & Exhibition, RIMS ERM Conference, RIMS RiskTech Conference, RIMS Risk Summits, and RIMS Risk Forums. RIMS Annual Conference 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 rage of educational programs, networking opportunities, and current event analysis that impact the risk profession. b) Membership & Publications - RIMS continues to make membership more accessible and inclusive for risk professionals around the world, launching a International Associate membership for emerging countries. RIMS continued expansion into focused countries, launching certification prep courses, expanding the number of internationally certified risk managers, and expanding educational offerings. A formal Diversity and Inclusion Advisory Council was established to address and promote resiliency and inclusion. A new website was unveiled with emphasis on delivering additional content and resources with improved navigation. Additionally, RIMS produces award-winning, industry-leading informational content and analysis both in print and digitally. RIMS publications address topics globally across the risk management spectrum including climate, cyber, ERM disaster, and supply chain risks. The RISK Management Magazine is issued 10 times per year. Its circulation includes 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 associated with the risk management field. The organization's Risk Management Monitor is a daily blog offering coverage and analysis of the latest risk-related news and issues. RiskWire is a twice-weekly, curated news service providing and executive summary and links to the most important risk management stories. c) Strategic Initiatives & Education - RIMS continued to develop new and refreshed course offerings within an expanded, progressive curriculum. A podcast series was launched to address relevant current events with industry experts. RIMS continued its involvement with international standards development and co-produced new content pieces addressing digital risk, GRC, risk practice excellence, and emerging risks. risks. FORM 990, PART VI, SECTION A, LINE 6: RISK AND INSURANCE MANAGEMENT SOCIETY, INC. IS A MEMBERSHIP ORGANIZATION. MEMBERSHIP TYPES ARE ORGANIZATIONAL (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: FORM 990 IS PREPARED BY A NATIONALLY RECOGNIZED ACCOUNTING FIRM IN CONJUNCTION WITH THE ORGANIZATION'S MANAGEMENT. DRAFT FORM 990 IS REVIEWED BY THE ORGANIZATION'S MANAGEMENT AND AUDIT/FINANCE COMMITTEE. 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 ALL 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 Officers' 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 loss...........$(4,481) GLOBAL RISK MANAGEMENT INSTITUTE INC 1407 BROADWAY 29TH FLOOR NEW YORK NY 10018 134059911 PROF. Devel. NY 501(C)(3) 7 RIMS true false false true false false false false false false false false false false true true false false false false