Risk And Insurance Management Society Inc, Alabama Chapter Of Rims in Vestavia, Alabama (AL)

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Risk And Insurance Management Society Inc, Alabama Chapter Of Rims
Employer Identification Number (EIN)131860397
Name of OrganizationRisk And Insurance Management Society Inc
Secondary NameAlabama Chapter Of Rims
In Care of NameBecky Chilcoat
Address1200 Urban Center Drive, Vestavia, AL 35242
ActivitiesOther school related activities, Professional association
SubsectionBoard of Trade
Ruling Date08/1960
DeductibilityContributions are not deductible
FoundationAll organizations except 501(c)(3)
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period2012
Assets$0
Income$0
Filing Requirement990 - Required to file Form 990-N - Income less than $25,000 per year
Asset Amount$9,974,414
Amount of Income$13,635,942
Form 990 Revenue Amount$13,635,942
National Taxonomy of Exempt Entities (NTEE)Mutual/Membership Benefit Organizations, Other: Professional Societies, Associations


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Amount of income in 2012: $13,635,942
This organization: 

 $13,635,942
Other organizations performing similar types of work: 

 $3,851,490

Assets in 2012: $9,974,414
Risk And Insurance Management Society Inc, Alabama Chapter Of Rims: 

 $9,974,414
Other organizations performing similar types of work: 

 $4,250,151

Expenses in 2007: $11,692,491
This organization: 

 $11,692,491
Other organizations performing similar types of work: 

 $4,089,178

Income to expenses ratio in 2007: 1.2
Risk And Insurance Management Society Inc, Alabama Chapter Of Rims: 

 1.2
Other organizations performing similar types of work: 

 1.1

Number of employees in 2007: 52
Risk And Insurance Management Society Inc, Alabama Chapter Of Rims: 

 52
Other organizations performing similar types of work: 

 21

Employees paid over $50,000 in 2007: 1.9%
This organization: 

 1.9%
Other organizations performing similar types of work: 

 1.6%

Grants share in income in 2007: 4.5%
This organization: 

 4.5%
Other organizations performing similar types of work: 

 0.0%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
200520062007
Total revenue$12,115,296$11,750,136$13,635,942
Contributions, gifts, grants, and similar amounts received$576,039$573,133$613,005
Contributions to donor advised funds$0$0
Direct public support$576,039$573,133$613,005
Indirect public support$0$0$0
Government contributions (grants)$0$0$0
Program service revenue including government fees and contracts$8,833,634$7,326,481$9,292,664
Membership dues and assessments$1,826,341$2,035,866$2,207,120
Interest on savings and temporary cash investments$22,457$0$0
Dividends and interest from securities$320,027$505,820$835,004
Net rental income or (loss)$0$0$0
Gross rents$0$0$0
Less: rental expenses$0$0$0
Other investment income$0$0$0
Gain or (loss) from sales of assets other than inventory$24,544$855,069$216,234
Gross amount from sales of assets other than inventory$1,049,826$10,798,806$3,003,267
Less: cost or other basis and sales expenses$1,025,282$9,943,737$2,787,033
Net income or (loss) from special events and activities$0$0$0
Gross revenue$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0
Gross profit or (loss) from sales of inventory$19,526$19,855$-690
Gross sales of inventory, less returns and allowances$26,485$25,702$8,085
Less: cost of goods sold$6,959$5,847$8,775
Other revenue$492,728$433,912$472,605
Total expenses$10,114,413$10,117,218$11,692,491
Program services$0$0$0
Management and general$0$0$0
Fundraising$0$0$0
Payments to affiliates$0$0$0
Net assets or fund balances at end of year$6,792,289$8,229,393$9,974,414
Excess or (deficit) for the year$2,000,883$1,632,918$1,943,451
Net assets or fund balances at beginning of year$4,599,075$6,792,289$8,229,393
Other changes in net assets or fund balances$192,331$-195,814$-198,430
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$11,692,491$0$0$0
Grants paid from donor advised funds$0
Other grants and allocations$440,500
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$275,340$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$3,713,807$0$0$0
Pension plan contributions not included above$260,145$0$0$0
Employee benefits not included above$410,676$0$0$0
Payroll taxes$299,917$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$139,541$0$0$0
Legal fees$0$0$0$0
Supplies$50,574$0$0$0
Telephone$62,914$0$0$0
Postage and shipping$205,815$0$0$0
Occupancy$581,584$0$0$0
Equipment rental and maintenance$268,295$0$0$0
Printing and publications$662,654$0$0$0
Travel$281,907$0$0$0
Conferences, conventions, and meetings$2,364,849$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$419,595$0$0$0
Other expenses not covered above$1,254,378$0$0$0
Balance Sheets
200520062007
Total assets$12,692,903$14,295,568$16,213,878
Cash - non-interest-bearing$300$301$400
Savings and temporary cash investments$1,540,990$893,371$567,302
Accounts receivable less allowance for doubtful accounts$160,218$160,170$113,495
Pledges receivable less allowance for doubtful accounts$0$0$0
Grants receivable$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0
Inventories for sale or use$0$0$0
Prepaid expenses and deferred charges$480,556$499,706$580,254
Investments - publicly-traded securities$10,866,687$12,835,318
Investments - other securities$8,535,529$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0
Investments - other$0$0$91,079
Land, buildings, and equipment less accumulated depreciation$1,975,310$1,875,333$2,026,030
Other assets, including program-related investments$0$0$0
Total liabilities$5,900,614$6,066,175$6,239,464
Accounts payable and accrued expenses$699,960$597,322$883,582
Grants payable$0$0$200,000
Deferred revenue$5,200,654$5,468,853$5,064,803
Loans from officers, directors, trustees, and key employees$0$0$0
Tax-exempt bond liabilities$0$0$0
Mortgages and other notes payable$0$0$0
Other liabilities$0$0$91,079
Total liabilities and net assets/fund balances$12,692,903$14,295,568$16,213,878
Total net assets or fund balances$6,792,289$8,229,393$9,974,414
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
200520062007
Total revenue$12,115,296$11,750,136$13,635,942
Total revenue, gains, and other support per audited financial statements$12,210,627$11,364,125$13,279,728
Other expenses$40,114$-370,568$-336,106
Net unrealized gains on investments$192,331$-195,814$-198,430
Donated services and use of facilities$0$0$0
Recoveries of prior year grants$0$0$0
Other$-152,217$-174,754$-137,676
Other revenue$-55,217$15,443$20,108
Investment expenses$14,341$21,290$28,883
Other$-69,558$-5,847$-8,775
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
200520062007
Total expenses$10,114,413$10,117,218$11,692,491
Total expenses and losses per audited financial statements$10,017,413$9,927,021$11,534,707
Other revenue$69,558$5,847$8,775
Donated services and use of facilities$0$0$0
Prior year adjustments$0$0$0
Losses$0$0$0
Other$69,558$5,847$8,775
Other expenses$166,558$196,044$166,559
Investment expenses$14,341$21,290$28,883
Other$152,217$174,754$137,676
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
35$245,304$30,036$0
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings15
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?No
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?No
Did the organization make only in-house lobbying expenditures of $2,000 or less?No
Dues, assessments, and similar amounts from members$2,207,120
Section 162(e) lobbying and political expenditures$238,755
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$238,367
Taxable amount of lobbying and political expenditures$388
Does the organization elect to pay the section 6033(e) tax on the amount above?No
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?Yes
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 200652
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$1,285,265$3,966,909$7,770,763
Program service revenue
Program service revenue 1Advertising and related services$93,375Section 501(c)(3), (4), (5), or (6) organization - Qualified convention and trade show activity income (section 513(d)(3))$2,892,460$3,396,338
Program service revenue 2000000$000$0$226,574
Program service revenue 3000000$000$0$764,947
Program service revenue 4Advertising and related services$967,820Royalty income excluded by section 512(b)(2)$23,211$927,939
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$2,207,120
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$835,004$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$0Gain (or loss, to the extent allowed) from the sale of investments and other non-inventory property and from certain property acquired from financial institutions that are in conservatorship or receivership (sections 512(b)(5) and 512(b)(16)(A))$216,234$0
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$-690
Other revenueExploited exempt activities$224,07000$0$248,535
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?
Did the organization maintain any donor advised funds?
Did the organization make any taxable distributions under section 4966?
Did the organization make a distribution to a donor, donor advisor, or related person?
Enter the total number of donor advised funds owned at the end of the tax year$0
Enter the aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
Enter the total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
Enter the aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it is
Support Schedule
200420052006
Total$0$0$0
Gifts, grants, and contributions received$0$0$0
Membership fees received$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0
Net income from unrelated business activities not included above$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0
Other income$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Statements Regarding Other IRS Filings and Tax Compliance (for 2011)
Did the organization have unrelated business gross income of $1,000 or more during the year?Yes
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities $0
Gross income from members or shareholders$0
Gross income from other sources$0
Statement of Revenue (for 2011)
Total revenue$12,934,961
Contributions, Gifts, Grants and Other Similar Amounts$0
Program Service Revenue$11,472,237
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$422,232
Income from investment of tax-exempt bond proceeds$0
Royalties$0
Net rental income$0
Net gain from sales of assets other than inventory$260,860
Gross amount from sales of assets other than inventory (Securities / Other)$1,062,654 / $0
Less: cost or other basis and sales expenses (Securities / Other)$801,794 / $0
Gain or (loss) (Securities / Other)$260,860 / $0
Net income from fundraising events$0
Net income from gaming activities$0
Net income from sales of inventory$0
Miscellaneous Revenue$779,632
Statement of Functional Expenses (for 2011)
Total functional expenses$12,605,537
Compensation of current officers, directors, trustees, and key employees$860,776
Other salaries and wages$3,873,053
Payroll taxes$362,821
Professional fundraising services$0
Other$7,508,887
Balance Sheet (for 2011)
Total assets$15,153,995
Total liabilities$6,377,265
Tax-exempt bond liabilities$0
Secured mortgages and notes payable to unrelated third parties$0
Unsecured notes and loans payable to unrelated third parties$0
Other$6,377,265
Total net assets or fund balances$8,776,730
Retained earnings, endowment, accumulated income, or other funds$0
Reason for Public Charity Status (for 2011)
The organization is not a private foundation because it is:Not provided
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4Pennsylvania Professional Liability Joint Underwriting Association2250 Hickory Rd Ste 125, Plymouth Mtng, PA 19462-2224PA1976-10$102,787,139
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Number of organizations performing similar types of work
Alabama1
California8
District of Columbia3
Florida1
Georgia1
Iowa1
Illinois6
Indiana1
Kentucky1
Massachusetts3
Michigan1
Minnesota3
Missouri2
Mississippi1
Montana2
North Carolina4
New Jersey2
New Mexico1
Nevada1
New York3
Ohio2
Oklahoma1
Oregon1
Pennsylvania2
Rhode Island3
Texas3
Virginia4
Washington1
Total63

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