Civic Intelligence

The Institutes Riskstream Collaborative Inc

990 • Fiscal year 2021 • EIN 82-2367323

Jan 01, 2021 to Dec 31, 2021 • Filed on Sep 02, 2022

720 Providence RoadMalvern, PA 19355

(610) 644-2100

Siviq Scores

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

Liabilities / Assets

100th percentile

2.35x

Higher debt load relative to assets than 100% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

99th percentile

29.55x

Higher debt load relative to revenue than 99% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2021

Net Margin

1st percentile

-457%

Higher net margin than 1% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

99th percentile

$1,947,808

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 115.2% of source-year revenue.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Source year 2021

Asset Growth

8th percentile

-3.8%

Faster asset growth than 8% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

16th percentile

-13%

Faster revenue growth than 16% of similar nonprofits.

2021 filings • 501(c)6 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Assets

Down

$21,272,776

Down $831,649 (-3.8%) from 2020

Net Assets

Down

-$28,668,574

Down $7,732,260 (-37%) from 2020

Liabilities

Up

$49,941,350

Up $6,900,611 (+16%) from 2020

Revenue

Down

$1,690,300

Down $244,500 (-13%) from 2020

Expenses

Up

$9,422,560

Up $18,878 (+0.2%) from 2020

Net Income

Down

-$7,732,260

Down $263,378 (-3.5%) from 2020

Historical Trend

Balance Sheet Trend

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

$100M$50M$0-$50M-$100MAssets 2018: $13,285,312Liabilities 2018: $19,636,453Net Assets 2018: -$6,351,1412018Assets 2019: $20,848,959Liabilities 2019: $34,316,391Net Assets 2019: -$13,467,4322019Assets 2020: $22,104,425Liabilities 2020: $43,040,739Net Assets 2020: -$20,936,3142020Assets 2021: $21,272,776Liabilities 2021: $49,941,350Net Assets 2021: -$28,668,5742021Assets 2022: $18,854,720Liabilities 2022: $55,226,070Net Assets 2022: -$36,371,3502022Assets 2024: $14,198,075Liabilities 2024: $67,400,814Net Assets 2024: -$53,202,7392024

Highlighted filing

2021

Assets$21,272,776
Liabilities$49,941,350
Net Assets-$28,668,574

Operations Trend

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

$10M$5.0M$0-$5.0M-$10MRevenue 2018: $1,053,473Expenses 2018: $1,388,913Net Income 2018: -$335,4402018Revenue 2019: $1,855,540Expenses 2019: $8,971,831Net Income 2019: -$7,116,2912019Revenue 2020: $1,934,800Expenses 2020: $9,403,682Net Income 2020: -$7,468,8822020Revenue 2021: $1,690,300Expenses 2021: $9,422,560Net Income 2021: -$7,732,2602021Revenue 2022: $1,626,750Expenses 2022: $9,329,526Net Income 2022: -$7,702,7762022Revenue 2024: $1,138,146Expenses 2024: $9,707,400Net Income 2024: -$8,569,2542024

Highlighted filing

2021

Revenue$1,690,300
Expenses$9,422,560
Net Income-$7,732,260
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Sep 2, 2022
Return Version
2021v4.2
Gross Receipts
$1,690,300
Mission and Program Overview

Mission

To advance blockchain technologies and to realize the full potential of its capabilities for the benefit of its members and the risk and insurance industry.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$21,811,418$21,177,216▼ $634,202
Cash and Non-Interest-Bearing Accounts$293,007$95,560▼ $197,447
Savings and Temporary Cash Investments$0$0→ $0
Accounts Receivable$0$0→ $0
Other Notes and Loans Receivable, Net$0$0→ $0
Pledges and Grants Receivable$0$0→ $0
Receivable From Disqualified Prsn$0$0→ $0
Receivables From Officers Etc$0$0→ $0
Investments Other Securities$0$0→ $0
Investments Program Related$0$0→ $0
Investments in Publicly Traded Securities$0$0→ $0
Intangible Assets$0$0→ $0
Inventories for Sale or Use$0$0→ $0
Loans From Officers Directors$0$0→ $0
Prepaid Expenses and Deferred Charges$0$0→ $0
Total Assets$22,104,425$21,272,776▼ $831,649
Other Assets Total$0$0→ $0
Liabilities
Other Liabilities$42,918,239$49,806,100▲ $6,887,861
Deferred Revenue$122,500$135,250▲ $12,750
Accounts Payable and Accrued Expenses$0$0→ $0
Grants Payable$0$0→ $0
Mortgage Notes Payable Secured by Investment Property$0$0→ $0
Unsecured Notes Loans Payable$0$0→ $0
Escrow Account Liability$0$0→ $0
Tax Exempt Bond Liabilities$0$0→ $0
Total Liabilities$43,040,739$49,941,350▲ $6,900,611
Net Assets / Fund Balance
Net Assets With Donor Restrictions$0$0→ $0
Net Assets Without Donor Restrictions$-20,936,314$-28,668,574▼ $7,732,260
Total Net Assets Fund Balance$-20,936,314$-28,668,574▼ $7,732,260
Total Liabilities and Net Assets / Fund Balance$22,104,425$21,272,776▼ $831,649

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$21,177,216$6,669,666$27,846,882
Compensation and Service Providers

Board Members and Trustees

NameTitle
Peter L MillerPresident & CEO
Christopher McdanielDirector
Jonathan KalmanDirector
Katherine E HorowitzSecretary
Jeffrey a ScheidtTreasurer

Highest Paid Contractors

ContractorServicesLocationCompensation
AicpcuShared Resources720 PROVIDENCE ROAD, Malvern, PA 19355$5,073,547
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$1,690,300
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-7,732,260
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$9,422,560
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
Depreciation Depletion$2,292,437--$2,292,437
Interest$2,055,678--$2,055,678
Other Expenses$898--$898
Total Functional Expenses$9,422,560$0$0$9,422,560
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$0
Fundraising Gross Income$0
Gaming Direct Expenses$0
Gaming Gross Income$0
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
In-house lobbying only
Yes
Subject to proxy tax
Yes
Insider Transactions and Loans

Loans and Receivables

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

Other Reported Liabilities

LiabilityAmount
Note Due to the Institutes$45,401,193
Interest Due on Note Due to Ti$4,404,907
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 1A

Effective july 25, 2017, the american institute for chartered property casualty underwriters ("the institutes") and the institutes riskstream collaborative, inc. Entered into an affiliation agreement and a shared resources agreement ("sra"). The institutes provides management and administrative services to the institutes riskstream collaborative in accordance with written bylaws, operating guidelines and procedures, budget, and provides certain services as prescribed by the sra.

Form 990, Part VI, Section A, Line 6

The institutes riskstream collaborative membership is comprised of national and international insurers, agencies, brokerages, and reinsurers. Members share a common vision and goals of building blockchain solutions that will lower industry transaction costs, improve the customer experience, and increase the speed and security of data transfers among industry stakeholders.

Form 990, Part VI, Section A, Lines 7A and 7B

The institutes riskstream collaborative's institutional member, the american institute for cpcu, appoints the directors of the riskstream collaborative and approves any extraordinary activities (mergers, dissolutions, etc.). Professional members have no voting rights.

Form 990, Part VI, Section B, Line 11B

The form 990 is prepared by an independent accounting firm and reviewed by the board of directors for approval before filing.

Form 990, Part VI, Section C, Line 12C

The conflict of interest policy is distributed to all directors on an annual basis. Directors must complete and return the disclosure form each year.

Form 990, Part VI, Section C, Line 15

This organization is an affiliate of the american institute for chartered property casualty underwriters ("the institutes"). Compensation arrangements involving any of the organization's officers and/or key employees are established by the institutes pursuant to a process that satisfies the rebuttable presumption procedure available for irc section 4958 excess benefit transaction tax purposes, which requires a review of compensation determinations by disinterested persons, use of appropriate comparability data, and contemporaneous documentation of the process.

Form 990, Part VI, Section C, Line 19

These documents are available upon request.

Filing and Contact Details

Filer

Filer Name
The Institutes Riskstream Collaborative Inc
EIN
82-2367323
In Care Of
% JEFFREY A SCHEIDT
Phone
6106442100
Address
720 PROVIDENCE ROAD, MALVERN, PA 19355

Signing Officer

Name
Jeffrey a Scheidt
Title
Treasurer
Phone
6106442100
Signed
2022-09-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Peter L Miller
Formed
2017
Legal Domicile
De
Voting Board Members
5
Independent Board Members
1
Employees
0
Volunteers
22

Preparer

Firm
Pricewaterhousecoopers Llp
Address
2001 MARKET STREET SUITE 1800, PHILADELPHIA, PA 19103
Preparer
Albert N Antonelli
Phone
2673303000
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NOTE DUE TO THE INSTITUTES
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1INTEREST DUE ON NOTE DUE TO TI
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IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm0PETER L MILLER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm1JEFFREY A SCHEIDT
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm2KATHERINE E HOROWITZ
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/PersonNm3CHRISTOPHER MCDANIEL
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt0PRESIDENT & CEO
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt1TREASURER
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt2SECRETARY
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/TitleTxt3DIRECTOR
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IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt0AS PROVIDED IN THE FORM 990, SCHEDULE J INSTRUCTIONS, SINCE THE ORGANIZATION RELIES ON A RELATED ORGANIZATION, WHICH USES ONE OR MORE OF THE METHODS DESCRIBED ON LINE 3 TO ESTABLISH THE TOP MANAGEMENT OFFICIAL'S COMPENSATION, THIS QUESTION HAS BEEN LEFT UNANSWERED. REFER TO SCHEDULE O FOR A DESCRIPTION OF THE COMPENSATION REVIEW AND APPROVAL PROCESS.
IRS990ScheduleJ/SupplementalInformationDetail/ExplanationTxt1PETER MILLER ACCRUED A BENEFIT OF $150,000 UNDER A SUPPLEMENTAL EMPLOYEE RETIREMENT PLAN AND THAT AMOUNT IS INCLUDED ON SCHEDULE J, PART II.
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, SCHEDULE J, PART I, LINE 3
IRS990ScheduleJ/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, SCHEDULE J, PART I, LINE 4B
IRS990ScheduleJ/SupplementalNonqualRtrPlanInd0true
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EFFECTIVE JULY 25, 2017, THE AMERICAN INSTITUTE FOR CHARTERED PROPERTY CASUALTY UNDERWRITERS ("THE INSTITUTES") AND THE INSTITUTES RISKSTREAM COLLABORATIVE, INC. ENTERED INTO AN AFFILIATION AGREEMENT AND A SHARED RESOURCES AGREEMENT ("SRA"). THE INSTITUTES PROVIDES MANAGEMENT AND ADMINISTRATIVE SERVICES TO THE INSTITUTES RISKSTREAM COLLABORATIVE IN ACCORDANCE WITH WRITTEN BYLAWS, OPERATING GUIDELINES AND PROCEDURES, BUDGET, AND PROVIDES CERTAIN SERVICES AS PRESCRIBED BY THE SRA.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE INSTITUTES RISKSTREAM COLLABORATIVE MEMBERSHIP IS COMPRISED OF NATIONAL AND INTERNATIONAL INSURERS, AGENCIES, BROKERAGES, AND REINSURERS. MEMBERS SHARE A COMMON VISION AND GOALS OF BUILDING BLOCKCHAIN SOLUTIONS THAT WILL LOWER INDUSTRY TRANSACTION COSTS, IMPROVE THE CUSTOMER EXPERIENCE, AND INCREASE THE SPEED AND SECURITY OF DATA TRANSFERS AMONG INDUSTRY STAKEHOLDERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE INSTITUTES RISKSTREAM COLLABORATIVE'S INSTITUTIONAL MEMBER, THE AMERICAN INSTITUTE FOR CPCU, APPOINTS THE DIRECTORS OF THE RISKSTREAM COLLABORATIVE AND APPROVES ANY EXTRAORDINARY ACTIVITIES (MERGERS, DISSOLUTIONS, ETC.). PROFESSIONAL MEMBERS HAVE NO VOTING RIGHTS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS PREPARED BY AN INDEPENDENT ACCOUNTING FIRM AND REVIEWED BY THE BOARD OF DIRECTORS FOR APPROVAL BEFORE FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE CONFLICT OF INTEREST POLICY IS DISTRIBUTED TO ALL DIRECTORS ON AN ANNUAL BASIS. DIRECTORS MUST COMPLETE AND RETURN THE DISCLOSURE FORM EACH YEAR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THIS ORGANIZATION IS AN AFFILIATE OF THE AMERICAN INSTITUTE FOR CHARTERED PROPERTY CASUALTY UNDERWRITERS ("THE INSTITUTES"). COMPENSATION ARRANGEMENTS INVOLVING ANY OF THE ORGANIZATION'S OFFICERS AND/OR KEY EMPLOYEES ARE ESTABLISHED BY THE INSTITUTES PURSUANT TO A PROCESS THAT SATISFIES THE REBUTTABLE PRESUMPTION PROCEDURE AVAILABLE FOR IRC SECTION 4958 EXCESS BENEFIT TRANSACTION TAX PURPOSES, WHICH REQUIRES A REVIEW OF COMPENSATION DETERMINATIONS BY DISINTERESTED PERSONS, USE OF APPROPRIATE COMPARABILITY DATA, AND CONTEMPORANEOUS DOCUMENTATION OF THE PROCESS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THESE DOCUMENTS ARE AVAILABLE UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 1A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINES 7A AND 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 15
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt3AICPCU
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/DirectControllingEntityName/BusinessNameLine1Txt4AICPCU
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt2C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt3C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt4C CORP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/EntityTypeTxt5C CORP
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ForeignAddress/AddressLine1Txt19 TEMASEK BOULEVARD
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ForeignAddress/CityNm0HOUNDSDITCH
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/ForeignAddress/CityNm1SUNTEC TOWER TWO
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt0EDUCATION
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt2EDUCATIONAL
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt3INSURANCE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt4INSURANCE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/PrimaryActivitiesTxt5INSURANCE
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt0RISK KNOWLEDGE GROUP
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt1IIS LONDON LTD
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt2IIS GLOBAL INSURANCE LTD
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt3RISKSTREAM GLOBAL INITIATIVES
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt4RISKSTREAM LABS
IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/RelatedOrganizationName/BusinessNameLine1Txt5TI TRAVEL INC
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IRS990ScheduleR/IdRelatedOrgTxblCorpTrGrp/USAddress/AddressLine1Txt2720 PROVIDENCE ROAD SUITE 100

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