Civic Intelligence

Risk Management Foundation

990 • Fiscal year 2015 • EIN 36-3579508

Aug 01, 2014 to Jul 31, 2015 • Filed on Feb 15, 2016

1714 Hinman AvenueEvanston, IL 60201

(847) 869-3655

Siviq Scores

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

Liabilities / Assets

48th percentile

0.22x

Higher debt load relative to assets than 48% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Liabilities / Revenue

71st percentile

0.64x

Higher debt load relative to revenue than 71% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Net Margin

80th percentile

22%

Higher net margin than 80% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Top Officer Pay

39th percentile

$144,486

Higher top officer pay than 39% of similar nonprofits.

Top officer pay equals 3.6% of source-year revenue.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2015

Asset Growth

76th percentile

10.0%

Faster asset growth than 76% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Revenue Growth

29th percentile

-3.3%

Faster revenue growth than 29% of similar nonprofits.

2015 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2014 to 2015

Assets

Up

$11,906,753

Up $1,080,678 (+10.0%) from 2014

Net Assets

Up

$9,328,185

Up $885,433 (+10%) from 2014

Liabilities

Up

$2,578,568

Up $195,245 (+8.2%) from 2014

Revenue

Down

$4,048,975

Down $139,560 (-3.3%) from 2014

Expenses

Up

$3,163,525

Up $535,561 (+20%) from 2014

Net Income

Down

$885,450

Down $675,121 (-43%) from 2014

Historical Trend

Balance Sheet Trend

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

$30M$20M$10M$0Assets 2010: $5,275,383Liabilities 2010: $2,180,186Net Assets 2010: $3,095,1972010Assets 2011: $5,779,780Liabilities 2011: $1,477,834Net Assets 2011: $4,301,9462011Assets 2012: $7,084,932Liabilities 2012: $1,784,287Net Assets 2012: $5,300,6452012Assets 2013: $9,082,933Liabilities 2013: $2,200,740Net Assets 2013: $6,882,1932013Assets 2014: $10,826,075Liabilities 2014: $2,383,323Net Assets 2014: $8,442,7522014Assets 2015: $11,906,753Liabilities 2015: $2,578,568Net Assets 2015: $9,328,1852015Assets 2016: $13,184,678Liabilities 2016: $2,863,768Net Assets 2016: $10,320,9102016Assets 2017: $15,045,246Liabilities 2017: $3,216,184Net Assets 2017: $11,829,0622017Assets 2018: $16,402,963Liabilities 2018: $2,501,562Net Assets 2018: $13,901,4012018Assets 2019: $17,570,217Liabilities 2019: $3,144,364Net Assets 2019: $14,425,8532019Assets 2020: $19,285,120Liabilities 2020: $3,725,550Net Assets 2020: $15,559,5702020Assets 2021: $23,021,124Liabilities 2021: $3,780,062Net Assets 2021: $19,241,0622021Assets 2022: $20,799,013Liabilities 2022: $2,245,466Net Assets 2022: $18,553,5472022Assets 2023: $22,083,939Liabilities 2023: $2,547,547Net Assets 2023: $19,536,3922023Assets 2024: $25,494,795Liabilities 2024: $3,244,219Net Assets 2024: $22,250,5762024

Highlighted filing

2015

Assets$11,906,753
Liabilities$2,578,568
Net Assets$9,328,185

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$8.0M$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,736,3152010Expenses 2011: $2,110,5722011Expenses 2012: $2,190,4452012Expenses 2013: $2,616,1942013Revenue 2014: $4,188,535Expenses 2014: $2,627,964Net Income 2014: $1,560,5712014Revenue 2015: $4,048,975Expenses 2015: $3,163,525Net Income 2015: $885,4502015Revenue 2016: $4,354,749Expenses 2016: $3,362,024Net Income 2016: $992,7252016Revenue 2017: $4,831,823Expenses 2017: $3,475,014Net Income 2017: $1,356,8092017Revenue 2018: $4,894,937Expenses 2018: $3,003,056Net Income 2018: $1,891,8812018Revenue 2019: $5,604,104Expenses 2019: $4,148,787Net Income 2019: $1,455,3172019Revenue 2020: $5,008,367Expenses 2020: $4,105,595Net Income 2020: $902,7722020Revenue 2021: $4,889,541Expenses 2021: $3,317,139Net Income 2021: $1,572,4022021Revenue 2022: $5,409,546Expenses 2022: $2,760,784Net Income 2022: $2,648,7622022Revenue 2023: $5,094,662Expenses 2023: $5,215,815Net Income 2023: -$121,1532023Revenue 2024: $6,030,339Expenses 2024: $5,039,739Net Income 2024: $990,6002024

Highlighted filing

2015

Revenue$4,048,975
Expenses$3,163,525
Net Income$885,450
Jump To
Filing Snapshot
Filing Period
Aug 1, 2014 to Jul 31, 2015
Signed
Feb 15, 2016
Return Version
2014v6.0
Gross Receipts
$9,396,562
Mission and Program Overview

Mission

Risk Management Foundation (RMF) is a not-for-profit 501(c)(3) educational foundation established to educate chapters and house corporations of Sigma Chi Fraternity about risk management and provide aid in times of loss.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$9,583,253$9,397,802▼ $185,451
Savings and Temporary Cash Investments$714,130$1,771,074▲ $1,056,944
Investments Other Securities$502,351$505,165▲ $2,814
Cash and Non-Interest-Bearing Accounts$20,907$226,880▲ $205,973
Accounts Receivable$5,434$5,832▲ $398
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0--
Receivables From Officers Etc$0--
Investments Program Related$0--
Land, Buildings, and Equipment, Net$0$0→ $0
Loans From Officers Directors$0--
Total Assets$10,826,075$11,906,753▲ $1,080,678
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$2,345,556$2,540,000▲ $194,444
Grants Payable$37,767$38,568▲ $801
Total Liabilities$2,383,323$2,578,568▲ $195,245
Net Assets / Fund Balance
Unrestricted Net Assets$8,442,752$9,328,185▲ $885,433
Total Net Assets Fund Balance$8,442,752$9,328,185▲ $885,433
Total Liabilities and Net Assets / Fund Balance$10,826,075$11,906,753▲ $1,080,678
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
-Executive DirectorFT$125,332$19,154$144,486

Board Members and Trustees

NameTitle
-Board Member / Chairman
-Board Member / Vice Chairman
-Board Member
-Board Member / Secretary
-Board Member / Treasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
Sigma Chi FoundationPayroll reimbursement and admin fees1714 Hinman Avenue, Evanston, IL 60201$219,059
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$3,652,828
Investment Income
$396,147
Other Revenue
$0
All Other Contributions
$0
Change in Net Assets
$885,450

Audited Revenue Reconciliation

Revenue per Audited Statements
$4,048,975
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-17
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$4,048,958
Total Revenue per Form 990
$4,048,975
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,930,884
Salaries, Compensation, and Employee Benefits$192,073
Grants and Similar Amounts Paid$40,568
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Insurance$1,511,702$79,496-$1,591,198
Current Officers, Directors, Trustees, and Key Employees$128,070$6,741-$134,811
Information Technology$50,843$2,676-$53,519
Grants to Domestic Orgs$40,568--$40,568
Other Salaries and Wages$36,800$1,937-$38,737
Office Expenses$32,068$1,688-$33,756
Fees for Service Investment Mgmnt Fees$29,539$1,555-$31,094
Travel$24,887$1,310-$26,197
Fees for Services Accounting$24,439$1,286-$25,725
Other Expenses$14,270$751-$15,021
Payroll Taxes$11,807$621-$12,428
Fees for Services Legal$4,457$235-$4,692
Other Employee Benefits$3,224$170-$3,394
Conferences and Meetings$3,055$161-$3,216
Pension Plan Contributions$2,568$135$0$2,703
Advertising$380$20-$400
Total Functional Expenses$2,991,991$171,534$0$3,163,525

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,163,525
Total Expenses per Audited Statements$3,163,525
Total Expenses per Form 990$3,163,525
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
Other Expense Adjustments$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Sigma Chi Leadership InstituteEvanston, IL501(c)(3)Risk Mgmt Education for Ugs & Advisors (2 Yrs)$40,568
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
Lobbying activity
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Loans from Officers, Directors, Trustees, and Key Employees$0--
Receivables from Disqualified Persons$0--
Receivables from Officers, Directors, Trustees, and Key Employees$0--
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Unpaid Losses and Loss Adjustment Expense$2,540,000
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 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
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 15B PROCESS USED TO ESTABLISH COMPENSATION FOR OTHER OFFICERS/KEY EMPLOYEES

The organization does not compensate any other officers or key employees, therefore, this question is not applicable and has intentionally been marked "no."

Form 990, Part VI, Line 15A PROCESS USED TO ESTABLISH COMPENSATION FOR THE EXECUTIVE DIRECTOR

The board of directors conducts an annual review of the performance and compensation package of the executive director. This review is scheduled each october/november and is documented in the board minutes in a timely manner. The chairman of the board reviews staff performance with directors and solicits input and feedback on goals, objectives and compensation. From time to time, the board uses compensation surveys from comparable industry positions to ensure adequate and appropriate compensation. The final compensation package of the executive director is approved by the board. There was no compensation survey performed during this filing year.

Form 990, Part VI, Line 6 Classes of members or stockholders

The sole voting member of RMF is Sigma Chi Fraternity (SCF), a related tax-exempt organization. As the organization's sole voting member, SCF has the right to elect or appoint one or more members of the organization's governing body as the three-year terms of incumbents expire and as vacancies arise.

Form 990, Part VI, Line 7A Members or stockholders electing members of governing body

See narrative to Part VI, Section A, Line 6

Form 990, Part VI, Line 11B Review of form 990 by governing body

The Form 990 is reviewed in detail by management. Subsequent to this review, the completed Form 990 is presented to the organization's Board of Directors before filing with the IRS.

Form 990, Part VI, Line 12C Conflict of interest policy

The Conflict of Interest Policy of RMF covers all Board members and staff. Board members and staff are required to disclose potential and actual conflicts of interests on an annual basis. Potential and actual conflicts of interest are reviewed at the Board level. If the Board determines that an actual conflict of interest exists at the board level, then the board member with the conflict is prohibited from participating in the governing body's deliberations and decisions regarding the matters with respect to which a conflict has been determined to exist.

Form 990, Part VI, Line 19 Required documents available to the public

Financial statements, governing documents and conflict of interest policies are not required disclosures pursuant to Internal Revenue Code (IRC) Section 6104. These documents are not available to the public at this time.

Filing and Contact Details

Filer

Filer Name
Risk Management Foundation
EIN
36-3579508
Phone
8478693655
Address
1714 Hinman Avenue, EVANSTON, IL 60201

Signing Officer

Name
Stephen Davidson
Title
Executive Director
Signed
2016-02-15
Discuss with paid preparer
Yes

Organization Details

Formed
1988
Legal Domicile
Il
Voting Board Members
6
Independent Board Members
6
Employees
2
Volunteers
6

Preparer

Firm
Crowe Horwath Llp
Address
225 West Wacker Drive, Suite 2600, Chicago, IL 60606-1224
Preparer
John Woodhull
Phone
3128997000
Supplemental Narrative

Additional Explanations

Form 990, Part IV, Line 11F FIN 48 Footnote

The organization's audited financial statements include the following income tax footnote: "The Foundation is a not-for-profit organization that is exempt from income taxes under Section 501(c)(3) of the Internal Revenue Code. The Foundation's Federal Exempt Organization Business Income Tax Return (Form 990) is subject to examination by the Internal Revenue Service, generally for three years after the date it was filed. "

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IRS990/Desc0RMF PROVIDES EXTENSIVE EDUCATIONAL PROGRAMMING AND MATERIALS ABOUT RISK MANAGEMENT TO ITS MEMBERSHIP AND OTHER INTERESTED PARTIES. RISKWATCH EDUCATIONAL INITIATIVES INCLUDE AN E-NEWSLETTER (DISTRIBUTION OF 3,000), ELECTRONIC RISK MANAGEMENT ALERTS, LOCAL AND INTERNATIONAL EDUCATIONAL SEMINARS, SCHOLARSHIPS, AND ONE-ON-ONE ASSESSMENT AND REVIEW OF MEMBER RISK MANAGEMENT PLANS AND/OR INITIATIVES. THE RISKWATCH PROGRAM HAS WON SEVERAL AWARDS FOR ITS EXCELLENCE IN COMMUNICATING RISK MANAGEMENT PRACTICES TO UNDERGRADUATES. RMF PROVIDES RISK MANAGEMENT EDUCATION AND RELATED SERVICES TO ITS MEMBERS. ANY CHAPTER OF SIGMA CHI FRATERNITY AND ANY HOUSE CORPORATION HOLDING TITLE TO OR MANAGING PROPERTY FOR THE BENEFIT OF A SIGMA CHI CHAPTER IS ELIGIBLE FOR MEMBERSHIP. RMF PROVIDES ACCESS TO INSURANCE COVERAGE FOR ITS SUBSCRIBING MEMBERS BY THE PURCHASE OF INSURANCE POLICIES THROUGH AN AFFILIATED BROKER. TODAY, 97% OF SIGMA CHI'S CHAPTERS ARE SUBSCRIBING MEMBERS OF RMF, INSURING OVER 15,000 BROTHERS AND $250 MILLION IN PROPERTY VALUE. RMF IS THE ONLY PROGRAM OF ITS KIND IN THE GREEK WORLD.
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IRS990/ReportOtherAssetsInd0false
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IRS990/ReportProgramRelatedInvstInd0false
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IRS990ScheduleA/Post1975UBTIGrp/TotalAmt0244542
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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$25.5$3.24$22.3$6.03$5.04$0.99
2023Detailed filing. Detailed filing data is available for this year.$22.1$2.55$19.5$5.09$5.22$0.12
2022Detailed filing. Detailed filing data is available for this year.$20.8$2.25$18.6$5.41$2.76$2.65
2021Detailed filing. Detailed filing data is available for this year.$23.0$3.78$19.2$4.89$3.32$1.57
2020Detailed filing. Detailed filing data is available for this year.$19.3$3.73$15.6$5.01$4.11$0.90
2019Detailed filing. Detailed filing data is available for this year.$17.6$3.14$14.4$5.60$4.15$1.46
2018Detailed filing. Detailed filing data is available for this year.$16.4$2.50$13.9$4.89$3.00$1.89
2017Detailed filing. Detailed filing data is available for this year.$15.0$3.22$11.8$4.83$3.48$1.36
2016Detailed filing. Detailed filing data is available for this year.$13.2$2.86$10.3$4.35$3.36$0.99
2015Detailed filing. Detailed filing data is available for this year.$11.9$2.58$9.33$4.05$3.16$0.89
2014Detailed filing. Detailed filing data is available for this year.$10.8$2.38$8.44$4.19$2.63$1.56
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$9.08$2.20$6.88$2.62
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$7.08$1.78$5.30$2.19
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.78$1.48$4.30$2.11
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$5.28$2.18$3.10$1.74