CASUALTY ACTUARIAL SOCIETY

EIN: 136113674

ARLINGTON, VA

Total Revenue
$22,281,459
Total Expenses
$19,245,770
Total Assets
$33,508,796
Net Assets
$23,356,917
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1969
Legal Domicile
VA
Principal Officer
VICTOR R CARTER-BEY
Phone
7032763100
Tax Period
2023-10-01 to 2024-09-30

CASUALTY ACTUARIAL SOCIETY, founded in 1969, is a mid-sized nonprofit that reported $22.3M in total revenue in fiscal year 2023. Revenue grew 17% year-over-year, indicating healthy expansion. Expenses of $19.2M left a modest 14% surplus.

Mission

THE PURPOSES OF THE CASUALTY ACTUARIAL SOCIETY ARE TO ADVANCE THE BODY OF KNOWLEDGE OF ACTUARIAL SCIENCE APPLIED TO GENERAL INSURANCE, INCLUDING PROPERTY, CASUALTY AND SIMILAR RISK EXPOSURES; TO EXPAND THE APPLICATION OF ACTUARIAL SCIENCE TO ENTERPRISE RISK AND SYSTEMIC RISKS; TO ESTABLISH AND MAINTAIN STANDARDS OF QUALIFICATION FOR MEMBERSHIP; TO PROMOTE AND MAINTAIN HIGH STANDARDS OF CONDUCT AND COMPETENCE; TO INCREASE AWARENESS OF ACTUARIAL SCIENCE; AND, TO CONTRIBUTE TO THE WELL BEING OF SOCIETY AS A WHOLE.

Program Service Accomplishments

Program 1
Expenses: $0 Revenue: $0

MEETINGS AND SEMINARS:SPONSORED 2 MEETINGS, 10 SEMINARS, 24 WEBINARS, AND 7 COURSES ON PROFESSIONALISM TO ADVANCE THE BODY OF ACTUARIAL KNOWLEDGE AND INCREASE THE AWARENESS OF ACTUARIAL SCIENCE.

Program 2
Expenses: $0 Revenue: $0

EXAMS:SPONSORED ACTUARIAL 8,082 EXAMS IN FY2024 TO EDUCATE STUDENTS ON PROPERTY CASUALTY APPLICATIONS. ONCE THEY HAVE PASSED THE EXAMS, THEY QUALIFY FOR MEMBERSHIP.

Program 3
Expenses: $0 Revenue: $0

PUBLICATIONS AND REFERENCE MATERIALS:PRODUCED 6 ISSUES OF ACTUARIAL REVIEW, 2 VARIANCE JOURNALS, SEVERAL WHITE PAPERS, RESEARCH PAPERS, AND MONOGRAPHS TO FURTHER THE KNOWLEDGE AND UNDERSTANDING OF...

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PUBLICATIONS AND REFERENCE MATERIALS:PRODUCED 6 ISSUES OF ACTUARIAL REVIEW, 2 VARIANCE JOURNALS, SEVERAL WHITE PAPERS, RESEARCH PAPERS, AND MONOGRAPHS TO FURTHER THE KNOWLEDGE AND UNDERSTANDING OF PROPERTY CASUALTY ACTUARIAL PROFESSIONALS AND EXAM APPLICANTS.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $19,144,088
Investment Income $3,117,444
Other Revenue $19,927
TOTAL REVENUE $22,281,459

Expense Breakdown

Grants Paid $631,302
Salaries & Benefits $8,792,229
Fundraising Expenses $0
Other Expenses $9,822,239
TOTAL EXPENSES $19,245,770

Year-over-Year Comparison

2023 2022 Change
Revenue $22,281,459 $18,966,025 +0.2%
Expenses $19,245,770 $17,672,363 +0.1%
Net Income $3,035,689 $1,293,662 +1.3%
Key Indicators
✓ Grants to Organizations ✓ Grants to Individuals ✗ Lobbying ✗ Political Activity ✓ Foreign Activities ✗ Donor Advised Fund ✗ Schedule B Required
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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

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Governance

Voting Members
18
Independent Members
18
Employees
65
Volunteers
3112

Governance Policies

✓ Conflict of Interest Policy
✓ Whistleblower Policy
✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School
✗ Operated a Hospital
✗ Provided First Class Travel
✗ Reported Conflict of Interest
✗ Reported Asset Diversion
✗ Excess Benefit Transaction
✗ Made Political Expenditures
✗ Engaged in Lobbying
✗ Operated Donor Advised Fund
✗ Maintained Art Collections
✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
12
$1,075,323
Total Directors
24
$2,277
Key Employees
2
$446,116
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
FRANK CHANG PRESIDENT 10.00
Officer Director
$2,277 $0 $2,277
A DAVID CUMMINGS PRESIDENT-ELECT 10.00
Officer Director
$0 $0 $0
ROOSEVELT MOSLEY BOARD CHAIR 20.00
Officer Director
$0 $0 $0
KATHERINE ANTONELLO BOARD CHAIR (THRU 11/23) 20.00
Officer Director
$0 $0 $0
STEVE BELDEN DIRECTOR 5.00
Director
$0 $0 $0
JUSTIN BRENDEN DIRECTOR 5.00
Director
$0 $0 $0
WANCHIN CHOU DIRECTOR 5.00
Director
$0 $0 $0
KRIS DEFRAIN DIRECTOR (THRU 11/23) 5.00
Director
$0 $0 $0
BRIAN DUPPERREAULT DIRECTOR (THRU 11/23) 5.00
Director
$0 $0 $0
STEPHANIE ESPY DIRECTOR 5.00
Director
$0 $0 $0
PETER HAHN DIRECTOR 5.00
Director
$0 $0 $0
JULIE LEDERER DIRECTOR 5.00
Director
$0 $0 $0
LEN LLAGUNO DIRECTOR 5.00
Director
$0 $0 $0
SANDY LOWE DIRECTOR 5.00
Director
$0 $0 $0
JOE MILICIA DIRECTOR 5.00
Director
$0 $0 $0
ALEJANDRA NOLIBOS DIRECTOR (THRU 11/23) 5.00
Director
$0 $0 $0
KATHY OLCESE DIRECTOR 5.00
Director
$0 $0 $0
KATHLEEN ORES WALSH DIRECTOR 5.00
Director
$0 $0 $0
YVONNE PALM DIRECTOR 5.00
Director
$0 $0 $0
AMBER ROHDE DIRECTOR 5.00
Director
$0 $0 $0
JASON RUSS DIRECTOR 5.00
Director
$0 $0 $0
ERIKA SCHURR DIRECTOR (THRU 11/23) 5.00
Director
$0 $0 $0
ALICIA SPEIGHT DIRECTOR 5.00
Director
$0 $0 $0
GEOFF WERNER DIRECTOR (THRU 11/23) 5.00
Director
$0 $0 $0
VICTOR CARTER-BEY CHIEF EXECUTIVE OFFICER 40.00
Officer
$541,108 $101,542 $642,650
TODD ROGERS CHIEF FINANCIAL OFFICER 40.00
Officer
$308,416 $121,980 $430,396
ANTHONY BUSTILLO VP-PROFESSIONAL EDUCATION 5.00
Officer
$0 $0 $0
RICHARD MONCHER VP-ADMINISTRATION 5.00
Officer
$0 $0 $0
WILLIAM WILDER VP-ADMISSIONS 5.00
Officer
$0 $0 $0
KEITH BERMAN VP-INTERNATIONAL 5.00
Officer
$0 $0 $0
ERIN OLSON VP-MARKETING & COMMUNICATIONS 5.00
Officer
$0 $0 $0
MORGAN BUGBEE VP-RESEARCH & DEVELOPMENT 5.00
Officer
$0 $0 $0
KATHLEEN DEAN DIRECTOR, MEETING SERVICES 40.00
Key Emp
$176,770 $72,885 $249,655
ALICIA BURKE ICAS DIRECTOR OF PORTFOLIO & PRODUCT DEVELOPMENT 40.00
Key Emp
$173,554 $22,907 $196,461
J MICHAEL BOA CHIEF COMMUNICATIONS OFFICER 40.00
Highest
$287,561 $101,641 $389,202
KENDALL WILLIAMS STAFF ACTUARY 40.00
Highest
$256,350 $47,728 $304,078
JOHN KLEINE CHIEF GROWTH AND PRODUCT OFFICER 40.00
Highest
$241,400 $45,509 $286,909
JOYCE NEVEROV CHIEF BUSINESS OFFICER 40.00
Highest
$243,734 $23,030 $266,764
CARRIE CROSS STRATEGY AND LEARNING PARTNER 40.00
Highest
$155,072 $33,204 $188,276
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 $22,281,459 $19,245,770 $33,508,796 $3,035,689
2023 $18,966,025 $17,672,363 $26,860,194 $1,293,662
2022 $16,083,017 $15,614,431 $23,622,669 $468,586
2021 $15,223,268 $12,391,478 $25,275,845 $2,831,790
2020 $12,259,939 $12,990,571 $21,062,985 $-730,632
2019 $15,727,680 $15,016,581 $21,480,292 $711,099
2018 $14,241,050 $13,819,386 $19,734,771 $421,664
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