Civic Intelligence

Public Utilities Risk Management Association Inc

990 • Fiscal year 2021 • EIN 04-3346955

Jan 01, 2021 to Dec 31, 2021 • Filed on May 11, 2022

1900 West Park Drive Suite 280Westborough, MA 01581

(508) 599-3422

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

77th percentile

0.17x

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

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Liabilities / Revenue

74th percentile

0.13x

Higher debt load relative to revenue than 74% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Net Margin

25th percentile

-7.9%

Higher net margin than 25% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Top Officer Pay

99th percentile

$157,742

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 36.2% of source-year revenue.

2021 filings • 501(c)6 • <$500k nonprofits • Source year 2021

Asset Growth

19th percentile

-13%

Faster asset growth than 19% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Annualized from 2020 to 2021

Revenue Growth

56th percentile

8.2%

Faster revenue growth than 56% of similar nonprofits.

2021 filings • 501(c)6 • <$500k nonprofits • Annualized from 2020 to 2021

Assets

Down

$335,245

Down $51,239 (-13%) from 2020

Net Assets

Down

$279,021

Down $34,378 (-11%) from 2020

Liabilities

Down

$56,224

Down $16,861 (-23%) from 2020

Revenue

Up

$435,287

Up $32,969 (+8.2%) from 2020

Expenses

Up

$469,665

Up $48,383 (+11%) from 2020

Net Income

Down

-$34,378

Down $15,414 (-81%) from 2020

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$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

2021

Assets$335,245
Liabilities$56,224
Net Assets$279,021

Operations Trend

Revenue, expenses, and net income across loaded years, with this 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

2021

Revenue$435,287
Expenses$469,665
Net Income-$34,378
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
May 11, 2022
Return Version
2021v4.0
Gross Receipts
$435,287
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
Cash and Non-Interest-Bearing Accounts$331,581$152,161▼ $179,420
Accounts Receivable$35,160$43,193▲ $8,033
Land, Buildings, and Equipment, Net$1,651$36,878▲ $35,227
Prepaid Expenses and Deferred Charges$16,677$3,013▼ $13,664
Total Assets$386,484$335,245▼ $51,239
Other Assets Total$1,415$100,000▲ $98,585
Liabilities
Deferred Revenue$26,483$53,469▲ $26,986
Accounts Payable and Accrued Expenses$46,602$2,755▼ $43,847
Total Liabilities$73,085$56,224▼ $16,861
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$313,399$279,021▼ $34,378
Total Net Assets Fund Balance$313,399$279,021▼ $34,378
Total Liabilities and Net Assets / Fund Balance$386,484$335,245▼ $51,239

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$36,878$15,686$52,564
Other Assets Org$100,000--
Compensation and Service Providers

Employees

NameTitleBaseTotal
Nichole MagnificoExecutive Di$157,742$157,742
Nichole MagnificoExecutive Director$157,742$157,742

Board Members and Trustees

NameTitle
Jeffrey DobbinsPresident
Brooke McmahonDirector
Kenneth LabrieDirector
Kevin KellyDirector
Paul HeanueDirector
Jeffrey DobbinsSecretary
Gail CohenTreasurer
Jay KlineVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$435,287
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-34,378

Audited Revenue Reconciliation

Revenue per Audited Statements
$435,287
Total Revenue per Audited Statements
$435,287
Total Revenue per Form 990
$435,287
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$246,030
Salaries, Compensation, and Employee Benefits$223,635
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$75,483$106,156-$181,639
Fees for Services Legal$25,295--$25,295
Other Employee Benefits$16,944$5,088-$22,032
Fees for Services Accounting-$14,300-$14,300
Payroll Taxes$1,075$13,070-$14,145
Other Expenses$30,102$9,920-$9,920
Insurance-$9,104-$9,104
Depreciation Depletion$4,496$4,495-$8,991
Pension Plan Contributions$370$5,449-$5,819
All Other Expenses$624$3,886-$4,510
Advertising-$631-$631
Total Functional Expenses$154,389$315,276$0$469,665

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$469,665
Total Expenses per Audited Statements$469,665
Total Expenses per Form 990$469,665
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
Gail Cohen
Title
Treasurer
Phone
5085993422
Signed
2022-05-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Gail Cohen
Formed
1997
Legal Domicile
Ma
Voting Board Members
8
Independent Board Members
8
Employees
5

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.

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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
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 19
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0true
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt0386484
IRS990/TotalAssetsEOYAmt0335245
IRS990/TotalAssetsGrp/BOYAmt0386484
IRS990/TotalAssetsGrp/EOYAmt0335245
IRS990/TotalCompGreaterThan150KInd0true
IRS990/TotalEmployeeCnt05
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt0315276
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0154389
IRS990/TotalFunctionalExpensesGrp/TotalAmt0469665
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt073085
IRS990/TotalLiabilitiesEOYAmt056224
IRS990/TotalLiabilitiesGrp/BOYAmt073085
IRS990/TotalLiabilitiesGrp/EOYAmt056224
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0313399
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0279021
IRS990/TotalProgramServiceExpensesAmt0154389
IRS990/TotalProgramServiceRevenueAmt0435287
IRS990/TotalReportableCompFromOrgAmt0157742
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0435287
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0435287
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt0386484
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt0335245
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0150 POTTER ROAD
IRS990/USAddress/CityNm0BRAINTREE
IRS990/USAddress/StateAbbreviationCd0MA
IRS990/USAddress/ZIPCd002184
IRS990/VotingMembersGoverningBodyCnt08
IRS990/VotingMembersIndependentCnt08
IRS990/WebsiteAddressTxt0WWW.PURMA.ORG
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GAIL COHEN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum05085993422
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-05-11
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/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/PreparationDt02022-09-27
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0TRACY I VAUGHAN CPA
ReturnHeader/ReturnTs02022-09-28T16:44:24-04:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0GAIL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0COHEN
ReturnHeader/TaxPeriodBeginDt02021-01-01
ReturnHeader/TaxPeriodEndDt02021-12-31
ReturnHeader/TaxYr02021

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

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
2021Detailed filing. Detailed filing data is available for this year.$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