Civic Intelligence

Brokers & Reinsurance Markets Inc

EIN 36-3477140 • 501(c)6 • Indianapolis, IN

Profile

Brma's mission is to educate, inform and inspire people working in disciplines related to business continuity, organizational resiliency, and risk.

3601 Vincennes RoadIndianapolis, IN 46268

www.brma.org

Siviq Scores

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

Liabilities / Assets

81st percentile

0.34x

Higher debt load relative to assets than 81% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Liabilities / Revenue

94th percentile

0.67x

Higher debt load relative to revenue than 94% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Net Margin

5th percentile

-37%

Higher net margin than 5% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Source year 2024

Top Officer Pay

Score unavailable

No value available

No filing with officer rows is available for this organization yet.

Asset Growth

41st percentile

0.8%

Faster asset growth than 41% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2022 to 2024

Revenue Growth

19th percentile

-6.9%

Faster revenue growth than 19% of similar nonprofits.

501(c)6 • $500k-$1M nonprofits • Annualized from 2022 to 2024

Balance Sheet
Liabilities / Assets81st percentile

Assets

Down

$832,941

Down $252,145 (-23%) from 2023

Liabilities

Down

$286,196

Down $94,174 (-25%) from 2023

Net Assets

Down

$546,745

Down $157,971 (-22%) from 2023

Operations
Liabilities / Revenue94th percentileNet Margin5th percentile

Revenue

Down

$424,775

Down $13,330 (-3.0%) from 2023

Expenses

Up

$582,746

Up $118,509 (+26%) from 2023

Net Income

Down

-$157,971

Down $131,839 (-505%) from 2023

Trend Graphs

Balance Sheet Trend

Asset Growth41st percentile

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

$1.5M$1.0M$500K$0Assets 2012: $470,227Liabilities 2012: $43,500Net Assets 2012: $426,7272012Assets 2013: $586,188Liabilities 2013: $98,000Net Assets 2013: $488,1882013Assets 2014: $805,104Liabilities 2014: $279,000Net Assets 2014: $526,1042014Assets 2015: $845,859Liabilities 2015: $321,618Net Assets 2015: $524,2412015Assets 2016: $705,270Liabilities 2016: $191,369Net Assets 2016: $513,9012016Assets 2017: $655,006Liabilities 2017: $190,056Net Assets 2017: $464,9502017Assets 2018: $692,514Liabilities 2018: $288,238Net Assets 2018: $404,2762018Assets 2019: $625,299Liabilities 2019: $278,204Net Assets 2019: $347,0952019Assets 2020: $664,189Liabilities 2020: $196,225Net Assets 2020: $467,9642020Assets 2021: $757,389Liabilities 2021: $139,356Net Assets 2021: $618,0332021Assets 2022: $820,496Liabilities 2022: $89,648Net Assets 2022: $730,8482022Assets 2023: $1,085,086Liabilities 2023: $380,370Net Assets 2023: $704,7162023Assets 2024: $832,941Liabilities 2024: $286,196Net Assets 2024: $546,7452024

Highlighted filing

2024

Assets$832,941
Liabilities$286,196
Net Assets$546,745
Open 2024 Filing

Operations Trend

Revenue Growth19th percentile

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

$600K$400K$200K$0-$200KExpenses 2012: $413,8842012Revenue 2013: $457,167Expenses 2013: $395,706Net Income 2013: $61,4612013Revenue 2014: $470,067Expenses 2014: $432,151Net Income 2014: $37,9162014Revenue 2015: $472,379Expenses 2015: $474,242Net Income 2015: -$1,8632015Revenue 2016: $440,946Expenses 2016: $451,286Net Income 2016: -$10,3402016Revenue 2017: $441,631Expenses 2017: $490,582Net Income 2017: -$48,9512017Revenue 2018: $445,204Expenses 2018: $505,878Net Income 2018: -$60,6742018Revenue 2019: $436,957Expenses 2019: $494,139Net Income 2019: -$57,1822019Revenue 2020: $460,728Expenses 2020: $339,859Net Income 2020: $120,8692020Revenue 2021: $408,141Expenses 2021: $258,484Net Income 2021: $149,6572021Revenue 2022: $489,572Expenses 2022: $376,757Net Income 2022: $112,8152022Revenue 2023: $438,105Expenses 2023: $464,237Net Income 2023: -$26,1322023Revenue 2024: $424,775Expenses 2024: $582,746Net Income 2024: -$157,9712024

Highlighted filing

2024

Revenue$424,775
Expenses$582,746
Net Income-$157,971
Open 2024 Filing

Filings

Most recent year

2024 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$832,941
Liabilities
$286,196
Net assets
$546,745
Revenue
$424,775
Expenses
$582,746
Net income
-$157,971
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.83$0.29$0.55$0.42$0.58$0.16
2023Detailed filing. Detailed filing data is available for this year.$1.09$0.38$0.70$0.44$0.46$0.03
2022Detailed filing. Detailed filing data is available for this year.$0.82$0.09$0.73$0.49$0.38$0.11
2021Detailed filing. Detailed filing data is available for this year.$0.76$0.14$0.62$0.41$0.26$0.15
2020Detailed filing. Detailed filing data is available for this year.$0.66$0.20$0.47$0.46$0.34$0.12
2019Detailed filing. Detailed filing data is available for this year.$0.63$0.28$0.35$0.44$0.49$0.06
2018Detailed filing. Detailed filing data is available for this year.$0.69$0.29$0.40$0.45$0.51$0.06
2017Detailed filing. Detailed filing data is available for this year.$0.66$0.19$0.46$0.44$0.49$0.05
2016Detailed filing. Detailed filing data is available for this year.$0.71$0.19$0.51$0.44$0.45$0.01
2015Detailed filing. Detailed filing data is available for this year.$0.85$0.32$0.52$0.47$0.47$0.00
2014Detailed filing. Detailed filing data is available for this year.$0.81$0.28$0.53$0.47$0.43$0.04
2013Detailed filing. Detailed filing data is available for this year.$0.59$0.10$0.49$0.46$0.40$0.06
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$0.47$0.04$0.43$0.41
Latest Filing Detail
Jump To
Filing Snapshot
Filing Period
Jan 1, 2024 to Dec 31, 2024
Signed
Oct 28, 2025
Return Version
2024v5.0
Gross Receipts
$424,775
Mission and Program Overview

Mission

Brokers & reinsurance markets association, inc. (the "association") was incorporated on november 19, 1986. The membership of the association comprises both reinsurance intermediaries and broker channel underwriting companies. The association serves the reinsurance broker channel. The primary objective of the association is to improve the effectiveness of the reinsurance broker channel in terms of its ability to serve its clients and its competitiveness in the overall marketplace. The present objectives and goals of the association are to 1) monitor and refine, through the use of committees, free choice industry-wide guidelines; 2) produce timely and topical "white papers" that have a common interest to the reinsurance industry; 3) identify, and provide a forum for discussion; 4) to report to the members legislative and regulatory matters related to the reinsurance industry; and 5) to provide educational opportunities for its members through the use of contemporary speakers.

Brma's mission is to educate, inform and inspire people working in disciplines related to business continuity, organizational resiliency, and risk.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$411,651$430,488▲ $18,837
Cash and Non-Interest-Bearing Accounts$591,740$294,783▼ $296,957
Accounts Receivable$18,238$84,349▲ $66,111
Prepaid Expenses and Deferred Charges$63,457$23,321▼ $40,136
Total Assets$1,085,086$832,941▼ $252,145
Liabilities
Deferred Revenue$241,325$264,349▲ $23,024
Accounts Payable and Accrued Expenses$139,045$21,847▼ $117,198
Total Liabilities$380,370$286,196▼ $94,174
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$704,716$546,745▼ $157,971
Total Net Assets Fund Balance$704,716$546,745▼ $157,971
Total Liabilities and Net Assets / Fund Balance$1,085,086$832,941▼ $252,145
Compensation and Service Providers
Top Officer PayScore unavailable

Board Members and Trustees

NameTitle
Steven HankeChair
Frank HandPast Chair
Jon ColelloPast Chair
Alane CareyVice Chair
Alexander Van DijkDirector
Kerri HammDirector
Simmon HedleyDirector
Tim DriscollDirector
Tod CostikyanDirector
Gregg Dykstra JdSecretary/tr

Highest Paid Contractors

ContractorServicesLocationCompensation
Namic Service CorporationManagement3601 VINCENNES ROAD, Indianapolis, IN 46268$167,507
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$405,927
Investment Income
$18,848
Other Revenue
$0
Change in Net Assets
$-157,971

Audited Revenue Reconciliation

Revenue per Audited Statements
$424,775
Total Revenue per Audited Statements
$424,775
Total Revenue per Form 990
$424,775
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$582,746
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Conferences and Meetings$390,216--$390,216
Fees for Services Other$118,930$66,533-$185,463
Insurance$764$1,419-$2,183
Travel-$2,096-$2,096
Information Technology$1,800--$1,800
Office Expenses-$948-$948
Other Expenses-$40-$40
Total Functional Expenses$511,710$71,036$0$582,746

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$582,746
Total Expenses per Audited Statements$582,746
Total Expenses per Form 990$582,746
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
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
Yes

Governance Explanations

Form 990, Page 6, Part VI, Line 3

“The association has contracted with an association management company to perform all managerial services including planning, executing budgets and other financial requirements with executive committee oversight and in conjuction with the treasurer as well as dealing with legal issues facing the association. This is seen as the most cost effective alternative.”

Form 990, Page 6, Part VI, Line 6

“Brokers and reinsurnace markets association, inc. Is a not-for-profit volunteer association whose members elect the governing body, approve significant decisions of the governing body and would share the association's net assets if the association were to dissolve.”

Form 990, Page 6, Part VI, Line 7A

“See the answer to question 6, part vi. The organization has 25 voting members. However, 9 members are deemed the executive committee, and those members are charged with governance.”

Form 990, Page 6, Part VI, Line 7B

“See the answer to question 7 a and b, part vi.”

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

“Prior to the filing of the form 990, the association management company and an officer of the executive committee charged with these matters review the 990 with the cpa responsible for its preparation. During the review process, all issues and questions are resolved and the return is approved for filing. All members are given the opportunity to obtain a copy of the tax return for their records.”

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

“Enforced by executive committee”

Form 990, Page 6, Part VI, Line 19

“Full copies are available upon request.”

Filing and Contact Details

Filer

Filer Name
Brokers & Reinsurance Markets Inc
EIN
36-3477140
Phone
8477203666
Address
3601 VINCENNES ROAD, INDIANAPOLIS, IN 46268

Signing Officer

Name
Gregg Dykstra Jd
Title
Secretary/treasurer
Phone
8477203666
Signed
2025-10-28
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Steven Hanke
Formed
1986
Legal Domicile
Ny
Voting Board Members
10
Independent Board Members
10
Employees
0
Volunteers
10

Preparer

Firm
L M Henderson & Company Llp
Address
450 E 96TH ST STE 200, INDIANAPOLIS, IN 46240-3797
Preparer
James J Cline
Phone
3175661000
Supplemental Narrative

Additional Explanations

Form 990, Part IX, Line 11G

“Consultant fees 118,930 48,577 0 professional fees 0 17,956 0 total 118,930 66,533 0”

Financial Statement Notes

Schedule D, Page 3, Part X

“The association has been determined to be exempt from income taxes under section 501(c)(6) of the internal revenue code for all business income related to its exempt purpose. The association is required to pay federal and state income taxes on its net unrelated business income. The association had no unrelated business income for the years ended december 31, 2024 and december 31, 2023. Management evaluates all tax positions taken or expected to be taken on its annual information returns, including the position that the association continues to qualify to be treated as a section 501(c)(6) organization for both federal and state purposes. For the years ended december 31, 2024 and december 31, 2023, management does not believe it has taken any tax positions that would not be sustained under examination. Therefore, no interest or penalties have been accrued or charged to expense as of december 31, 2024 and december 31, 2023, or the years then ended. The annual information returns for the association are subject to examination by taxing authorities for a period of three years from the date they are filed.”

Raw XML Appendix346 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.

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IRS990/OfficeExpensesGrp/ManagementAndGeneralAmt0948
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IRS990/PrincipalOfficerNm0STEVEN HANKE
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt144927
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ASSOCIATION HAS BEEN DETERMINED TO BE EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(6) OF THE INTERNAL REVENUE CODE FOR ALL BUSINESS INCOME RELATED TO ITS EXEMPT PURPOSE. THE ASSOCIATION IS REQUIRED TO PAY FEDERAL AND STATE INCOME TAXES ON ITS NET UNRELATED BUSINESS INCOME. THE ASSOCIATION HAD NO UNRELATED BUSINESS INCOME FOR THE YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023. MANAGEMENT EVALUATES ALL TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN ON ITS ANNUAL INFORMATION RETURNS, INCLUDING THE POSITION THAT THE ASSOCIATION CONTINUES TO QUALIFY TO BE TREATED AS A SECTION 501(C)(6) ORGANIZATION FOR BOTH FEDERAL AND STATE PURPOSES. FOR THE YEARS ENDED DECEMBER 31, 2024 AND DECEMBER 31, 2023, MANAGEMENT DOES NOT BELIEVE IT HAS TAKEN ANY TAX POSITIONS THAT WOULD NOT BE SUSTAINED UNDER EXAMINATION. THEREFORE, NO INTEREST OR PENALTIES HAVE BEEN ACCRUED OR CHARGED TO EXPENSE AS OF DECEMBER 31, 2024 AND DECEMBER 31, 2023, OR THE YEARS THEN ENDED. THE ANNUAL INFORMATION RETURNS FOR THE ASSOCIATION ARE SUBJECT TO EXAMINATION BY TAXING AUTHORITIES FOR A PERIOD OF THREE YEARS FROM THE DATE THEY ARE FILED.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleD/TotalRevenuePerForm990Amt0424775
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IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt0582746
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE ASSOCIATION HAS CONTRACTED WITH AN ASSOCIATION MANAGEMENT COMPANY TO PERFORM ALL MANAGERIAL SERVICES INCLUDING PLANNING, EXECUTING BUDGETS AND OTHER FINANCIAL REQUIREMENTS WITH EXECUTIVE COMMITTEE OVERSIGHT AND IN CONJUCTION WITH THE TREASURER AS WELL AS DEALING WITH LEGAL ISSUES FACING THE ASSOCIATION. THIS IS SEEN AS THE MOST COST EFFECTIVE ALTERNATIVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1BROKERS AND REINSURNACE MARKETS ASSOCIATION, INC. IS A NOT-FOR-PROFIT VOLUNTEER ASSOCIATION WHOSE MEMBERS ELECT THE GOVERNING BODY, APPROVE SIGNIFICANT DECISIONS OF THE GOVERNING BODY AND WOULD SHARE THE ASSOCIATION'S NET ASSETS IF THE ASSOCIATION WERE TO DISSOLVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2SEE THE ANSWER TO QUESTION 6, PART VI. THE ORGANIZATION HAS 25 VOTING MEMBERS. HOWEVER, 9 MEMBERS ARE DEEMED THE EXECUTIVE COMMITTEE, AND THOSE MEMBERS ARE CHARGED WITH GOVERNANCE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3SEE THE ANSWER TO QUESTION 7 A AND B, PART VI.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4PRIOR TO THE FILING OF THE FORM 990, THE ASSOCIATION MANAGEMENT COMPANY AND AN OFFICER OF THE EXECUTIVE COMMITTEE CHARGED WITH THESE MATTERS REVIEW THE 990 WITH THE CPA RESPONSIBLE FOR ITS PREPARATION. DURING THE REVIEW PROCESS, ALL ISSUES AND QUESTIONS ARE RESOLVED AND THE RETURN IS APPROVED FOR FILING. ALL MEMBERS ARE GIVEN THE OPPORTUNITY TO OBTAIN A COPY OF THE TAX RETURN FOR THEIR RECORDS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5ENFORCED BY EXECUTIVE COMMITTEE
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6FULL COPIES ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7CONSULTANT FEES 118,930 48,577 0 PROFESSIONAL FEES 0 17,956 0 TOTAL 118,930 66,533 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 3
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART IX, LINE 11G
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IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0511710
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IRS990/TravelGrp/ManagementAndGeneralAmt02096
IRS990/TravelGrp/TotalAmt02096
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IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt03601 VINCENNES ROAD
IRS990/USAddress/CityNm0INDIANAPOLIS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046268
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IRS990/VotingMembersIndependentCnt010
IRS990/WebsiteAddressTxt0WWW.BRMA.ORG
IRS990/WhistleblowerPolicyInd0true
ReturnHeader/BuildTS02025-03-06 01:10:19Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0GREGG DYKSTRA JD
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum08477203666
ReturnHeader/BusinessOfficerGrp/SignatureDt02025-10-28
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0BROKERS & REINSURANCE MARKETS INC
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0ASSOCIATION
ReturnHeader/Filer/BusinessNameControlTxt0BROK
ReturnHeader/Filer/EIN0363477140
ReturnHeader/Filer/PhoneNum08477203666
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ReturnHeader/Filer/USAddress/CityNm0INDIANAPOLIS
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ReturnHeader/Filer/USAddress/ZIPCd046268
ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0205520612
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0L M HENDERSON & COMPANY LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0450 E 96TH ST STE 200
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0462403797
ReturnHeader/PreparerPersonGrp/PhoneNum03175661000
ReturnHeader/PreparerPersonGrp/PreparationDt02025-10-28
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0JAMES J CLINE
ReturnHeader/ReturnTs02025-11-04T08:13:46-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02024-01-01
ReturnHeader/TaxPeriodEndDt02024-12-31
ReturnHeader/TaxYr02024

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