Risk & Insurance Management Society Inc

“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).”

“Organizational members elect the board of directors.”

“Changes to the bylaws require approval by the board of directors.”

“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.”

“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.”

“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.”

“The organization makes its financial statements available to the public upon request.”

“Foreign currency exchange 33,745.”