Civic Intelligence

Public Utilities Risk Management

EIN 04-3346955 • 501(c)6 • Westborough, MA

Profile

The public utilities risk management association is a not-for-profit organization that provides publicly owned utilities consistently superior and cost effective information, education and solutions to their risk management needs.

1900 West Park Drive Suite 280Westborough, MA 01581

www.purma.org

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

77th percentile

0.13x

Higher debt load relative to assets than 77% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2024

Liabilities / Revenue

79th percentile

0.13x

Higher debt load relative to revenue than 79% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2024

Net Margin

57th percentile

4.1%

Higher net margin than 57% of similar nonprofits.

501(c)6 • <$500k nonprofits • Source year 2024

Top Officer Pay

100th percentile

$210,357

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 52.0% of source-year revenue.

501(c)6 • <$500k nonprofits • Source year 2023

Asset Growth

44th percentile

-3.8%

Faster asset growth than 44% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2023 to 2024

Revenue Growth

60th percentile

6.3%

Faster revenue growth than 60% of similar nonprofits.

501(c)6 • <$500k nonprofits • Annualized from 2023 to 2024

Assets

Down

$425,235

Down $16,783 (-3.8%) from 2023

Liabilities

Down

$54,238

Down $34,372 (-39%) from 2023

Net Assets

Up

$370,997

Up $17,589 (+5.0%) from 2023

Revenue

Up

$429,762

Up $25,380 (+6.3%) from 2023

Expenses

Up

$412,173

Up $31,429 (+8.3%) from 2023

Net Income

Down

$17,589

Down $6,049 (-26%) from 2023

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$600K$400K$200K$0Assets 2011: $398,479Liabilities 2011: $111,252Net Assets 2011: $287,2272011Assets 2012: $414,855Liabilities 2012: $114,728Net Assets 2012: $300,1272012Assets 2013: $435,893Liabilities 2013: $126,433Net Assets 2013: $309,4602013Assets 2014: $356,559Liabilities 2014: $60,437Net Assets 2014: $296,1222014Assets 2015: $531,350Liabilities 2015: $213,419Net Assets 2015: $317,9312015Assets 2016: $357,251Liabilities 2016: $46,565Net Assets 2016: $310,6862016Assets 2017: $389,233Liabilities 2017: $61,287Net Assets 2017: $327,9462017Assets 2018: $366,568Liabilities 2018: $47,257Net Assets 2018: $319,3112018Assets 2019: $367,682Liabilities 2019: $35,319Net Assets 2019: $332,3632019Assets 2020: $386,484Liabilities 2020: $73,085Net Assets 2020: $313,3992020Assets 2021: $335,245Liabilities 2021: $56,224Net Assets 2021: $279,0212021Assets 2022: $469,820Liabilities 2022: $140,050Net Assets 2022: $329,7702022Assets 2023: $442,018Liabilities 2023: $88,610Net Assets 2023: $353,4082023Assets 2024: $425,235Liabilities 2024: $54,238Net Assets 2024: $370,9972024

Highlighted filing

2024

Assets$425,235
Liabilities$54,238
Net Assets$370,997

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$600K$400K$200K$0-$200KRevenue 2011: $351,186Expenses 2011: $328,496Net Income 2011: $22,6902011Revenue 2012: $370,322Expenses 2012: $357,422Net Income 2012: $12,9002012Revenue 2013: $377,152Expenses 2013: $367,819Net Income 2013: $9,3332013Revenue 2014: $387,757Expenses 2014: $401,095Net Income 2014: -$13,3382014Revenue 2015: $424,836Expenses 2015: $403,027Net Income 2015: $21,8092015Revenue 2016: $366,052Expenses 2016: $373,297Net Income 2016: -$7,2452016Revenue 2017: $384,870Expenses 2017: $367,610Net Income 2017: $17,2602017Revenue 2018: $378,791Expenses 2018: $387,426Net Income 2018: -$8,6352018Revenue 2019: $411,046Expenses 2019: $397,994Net Income 2019: $13,0522019Revenue 2020: $402,318Expenses 2020: $421,282Net Income 2020: -$18,9642020Revenue 2021: $435,287Expenses 2021: $469,665Net Income 2021: -$34,3782021Revenue 2022: $406,225Expenses 2022: $355,476Net Income 2022: $50,7492022Revenue 2023: $404,382Expenses 2023: $380,744Net Income 2023: $23,6382023Revenue 2024: $429,762Expenses 2024: $412,173Net Income 2024: $17,5892024

Highlighted filing

2024

Revenue$429,762
Expenses$412,173
Net Income$17,589

Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$4.25$0.54$3.71$4.30$4.12$0.18
2023Detailed filing. Detailed filing data is available for this year.$4.42$0.89$3.53$4.04$3.81$0.24
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$4.70$1.40$3.30$4.06$3.55$0.51
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.35$0.56$2.79$4.35$4.70$0.34
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.86$0.73$3.13$4.02$4.21$0.19
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.68$0.35$3.32$4.11$3.98$0.13
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.67$0.47$3.19$3.79$3.87$0.09
2017Detailed filing. Detailed filing data is available for this year.$3.89$0.61$3.28$3.85$3.68$0.17
2016Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.57$0.47$3.11$3.66$3.73$0.07
2015Detailed filing. Detailed filing data is available for this year.$5.31$2.13$3.18$4.25$4.03$0.22
2014Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$3.57$0.60$2.96$3.88$4.01$0.13
2013Import issue. A filing source exists for this year, but detailed import did not complete cleanly.$4.36$1.26$3.09$3.77$3.68$0.09
2012Summary only. Only limited summary data is available for this year.$4.15$1.15$3.00$3.70$3.57$0.13
2011Summary only. Only limited summary data is available for this year.$3.98$1.11$2.87$3.51$3.28$0.23
Latest Detailed Filing

The latest 2024 filing currently has linked XML that has not been fully parsed yet. Showing the latest detailed filing from 2023 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
May 7, 2024
Return Version
2023v5.0
Gross Receipts
$404,382
Mission and Program Overview

Mission

The public utilities risk management association is a not-for-profit organization that provides publicly owned utilities consistently superior and cost effective information, education and solutions to their risk management needs.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$123,433$202,646▲ $79,213
Cash and Non-Interest-Bearing Accounts$203,155$108,130▼ $95,025
Land, Buildings, and Equipment, Net$27,580$18,282▼ $9,298
Intangible Assets$12,361$10,356▼ $2,005
Prepaid Expenses and Deferred Charges$3,291$2,604▼ $687
Total Assets$469,820$442,018▼ $27,802
Other Assets Total$100,000$100,000→ $0
Liabilities
Deferred Revenue$132,577$85,093▼ $47,484
Accounts Payable and Accrued Expenses$7,473$3,517▼ $3,956
Total Liabilities$140,050$88,610▼ $51,440
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$329,770$353,408▲ $23,638
Total Net Assets Fund Balance$329,770$353,408▲ $23,638
Total Liabilities and Net Assets / Fund Balance$469,820$442,018▼ $27,802

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$18,282$34,282$52,564
Other Assets Org$100,000--
Compensation and Service Providers

Employees

NameTitleBaseOtherTotal
Nichole MagnificoExecutive Di$168,714$41,643$210,357
Nichole MagnificoExecutive Director$168,714$41,643$210,357

Board Members and Trustees

NameTitle
Jeffrey DobbinsPresident
Brooke McmahonDirector
Kevin KellyDirector
Patricia WaughDirector
Tom MorahanDirector
Jeffrey DobbinsSecretary
Kenneth LabrieTreasurer
Jay KlineVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$20,000
Program Service Revenue
$384,382
Investment Income
$0
Other Revenue
$0
All Other Contributions
$20,000
Change in Net Assets
$23,638

Audited Revenue Reconciliation

Revenue per Audited Statements
$404,382
Total Revenue per Audited Statements
$404,382
Total Revenue per Form 990
$404,382
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$290,770
Other Expenses$89,974
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$138,127$92,098-$230,225
Other Employee Benefits$17,272$11,515-$28,787
Payroll Taxes$10,767$7,178-$17,945
Pension Plan Contributions$8,288$5,525-$13,813
Fees for Services Accounting-$12,000-$12,000
Depreciation Depletion$6,782$4,521-$11,303
Insurance$4,985$3,323-$8,308
Advertising$3,837$2,558-$6,395
Other Expenses$13,916$5,663-$5,663
Information Technology$2,147$1,436-$3,583
All Other Expenses-$2,610-$2,610
Total Functional Expenses$217,698$163,046$0$380,744

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$380,744
Total Expenses per Audited Statements$380,744
Total Expenses per Form 990$380,744
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
No
Subject to proxy tax
Yes
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Backup withholding compliance
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The president of the organization reviews and signs form 990

Form 990, Page 6, Part VI, Line 12C

Organization regularly monitors conflicts of interest policy

Form 990, Page 6, Part VI, Line 15A

The president of the organization reviews and approves compensation for top officers and directors.

Form 990, Page 6, Part VI, Line 15B

The president of the organization reviews and approves compensation for other officers or key emoployees.

Form 990, Page 6, Part VI, Line 19

AVAILABLE UPON REQUEST

Filing and Contact Details

Filer

Filer Name
Public Utilities Risk Management
EIN
04-3346955
Phone
5085993422
Address
1900 WEST PARK DRIVE SUITE 280, WESTBOROUGH, MA 01581

Signing Officer

Name
Kenneth Labrie
Title
Treasurer
Phone
5085993422
Signed
2024-05-07
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kenneth Labrie
Formed
1997
Legal Domicile
Ma
Voting Board Members
6
Independent Board Members
6
Employees
2

Preparer

Firm
Goulet Salvidio & Associates Pc
Address
324 GROVE ST, WORCESTER, MA 01605
Preparer
Tracy I Vaughan CPA
Phone
5087575957
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The public utilities risk management association is a not-for-profit organization that provides publicly owned utilities consistently superior and cost effective information, education and solutions to their risk management needs.

Raw XML Appendix366 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

Path#Value
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IRS990/Form990PartVIISectionAGrp/TitleTxt2VICE PRESIDE
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IRS990/Form990PartVIISectionAGrp/TitleTxt5DIRECTOR
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE PUBLIC UTILITIES RISK MANAGEMENT ASSOCIATION IS A NOT-FOR-PROFIT ORGANIZATION THAT PROVIDES PUBLICLY OWNED UTILITIES CONSISTENTLY SUPERIOR AND COST EFFECTIVE INFORMATION, EDUCATION AND SOLUTIONS TO THEIR RISK MANAGEMENT NEEDS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE PRESIDENT OF THE ORGANIZATION REVIEWS AND SIGNS FORM 990
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2ORGANIZATION REGULARLY MONITORS CONFLICTS OF INTEREST POLICY
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE PRESIDENT OF THE ORGANIZATION REVIEWS AND APPROVES COMPENSATION FOR TOP OFFICERS AND DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE PRESIDENT OF THE ORGANIZATION REVIEWS AND APPROVES COMPENSATION FOR OTHER OFFICERS OR KEY EMOPLOYEES.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990 - ORGANIZATION'S MISSION
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
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ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0KENNETH LABRIE
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum05085993422
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-05-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0PUBLIC UTILITIES RISK MANAGEMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0ASSOCIATION INC
ReturnHeader/Filer/BusinessNameControlTxt0PUBL
ReturnHeader/Filer/EIN0043346955
ReturnHeader/Filer/PhoneNum05085993422
ReturnHeader/Filer/USAddress/AddressLine1Txt01900 WEST PARK DRIVE SUITE 280
ReturnHeader/Filer/USAddress/CityNm0WESTBOROUGH
ReturnHeader/Filer/USAddress/StateAbbreviationCd0MA
ReturnHeader/Filer/USAddress/ZIPCd001581
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0042623065
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0GOULET SALVIDIO & ASSOCIATES PC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0324 GROVE ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0WORCESTER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0MA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd001605
ReturnHeader/PreparerPersonGrp/PhoneNum05087575957
ReturnHeader/PreparerPersonGrp/PreparationDt02024-06-21
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TRACY I VAUGHAN CPA
ReturnHeader/ReturnTs02024-07-11T12:44:53-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0KENNETH
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0LABRIE
ReturnHeader/TaxPeriodBeginDt02023-01-01
ReturnHeader/TaxPeriodEndDt02023-12-31
ReturnHeader/TaxYr02023

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