THE RISK MANAGEMENT ASSOCIATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1921

Legal Domicile

Principal Officer

DEBBIE BIANUCCI

Phone

2154464000

Tax Period

2022-09-01 to 2023-08-31

THE RISK MANAGEMENT ASSOCIATION, founded in 1921, is a mid-sized nonprofit that reported $29.3M in total revenue in fiscal year 2022. Revenue surged 29% from the prior year, signaling strong growth momentum.

Mission

RMA IS A MEMBER-DRIVEN PROFESSIONAL ASSOCIATION WHOSE SOLE PURPOSE IS TO ADVANCE SOUND RISK PRINCIPLES IN THE FINANCIAL SERVICES INDUSTRY. RMA IS A MEMBER-DRIVEN PROFESSIONAL ASSOCIATION WHOSE SOLE PURPOSE IS TO ADVANCE SOUND RISK PRINCIPLES IN THE FINANCIAL SERVICES INDUSTRY.

Program Service Accomplishments

Program 1

WEB-BASED TRAINING PRODUCTS

Program 2

TRAINING EVENTS - SEMINARS SPONSORED AT VARIOUS DOMESTIC AND INTERNATIONAL LOCATIONS THROUGHOUT THE YEAR

Program 3

CONFERENCES AND ROUND TABLES - CREDIT RISK, OPERATIONAL RISK, MARKET RISK, ENTERPRISE RISK AND SECURITIES LENDING CONFERENCES AND PEER SHARING MEETINS HELD EACH YEAR

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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%)

Financial Overview (2022)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $28,596,449

Investment Income $711,865

Other Revenue $0

TOTAL REVENUE $29,308,314

Expense Breakdown

Grants Paid $0

Salaries & Benefits $17,387,234

Fundraising Expenses $0

Other Expenses $14,447,153

TOTAL EXPENSES $31,834,387

Year-over-Year Comparison

	2022	2021	Change
Revenue	$29,308,314	$22,732,998	+0.3%
Expenses	$31,834,387	$23,947,517	+0.3%
Net Income	$-2,526,073	$-1,214,519	+1.1%

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

Governance

Voting Members

Independent Members

Employees

110

Volunteers

1220

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

$2,883,833

Total Directors

$1,783,276

Key Employees

$1,740,968

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
AMANDA NORTON	DIRECTOR	2.00	Director	$0	$0	$0
AVANI PAREKH	EX OFFICIO DIRECTOR	2.00	Director	$0	$0	$0
CAROL SEVERYN	EX OFFICIO DIRECTOR	2.00	Director	$0	$0	$0
CRYSTAL HUMPHREYS	EX OFFICIO DIRECTOR	2.00	Director	$0	$0	$0
GEORGE BUCHANAN	DIRECTOR	2.00	Director	$0	$0	$0
GRAEME HEPWORTH	DIRECTOR	2.00	Director	$0	$0	$0
HEIDI ANDRION	DIRECTOR	2.00	Director	$0	$0	$0
HUMBERTO SALOMON	EX OFFICIO DIRECTOR	2.00	Director	$0	$0	$0
JODI RICHARD	CHAIR	2.00	Director	$0	$0	$0
JULIE NOSSER	EX OFFICIO DIRECTOR	2.00	Director	$0	$0	$0
KEVIN SLANE	DIRECTOR	2.00	Director	$0	$0	$0
KIERAN FALLON	DIRECTOR	2.00	Director	$0	$0	$0
MARK BRUCKER	DIRECTOR	2.00	Director	$0	$0	$0
MARK W MIDKIFF	TREASURER	2.00	Director	$0	$0	$0
MARK WHIPPLE	EX OFFICIO DIRECTOR	2.00	Director	$0	$0	$0
MARY KAPFERER	EX OFFICIO DIRECTOR	2.00	Director	$0	$0	$0
MICHAEL NASSY	IMMEDIATE PAST CHAIR	2.00	Director	$0	$0	$0
MICHELA VERNON	EX OFFICIO DIRECTOR	2.00	Director	$0	$0	$0
MONIA BOWE	DIRECTOR	2.00	Director	$0	$0	$0
NANCY J FOSTER	DIRECTOR, PRESIDENT & CEO	40.00	Officer Director	$1,632,308	$150,968	$1,783,276
PAUL SASSIENI	EX OFFICIO DIRECTOR	2.00	Director	$0	$0	$0
PHILIPPA X GIRLING	VICE CHAIR	2.00	Director	$0	$0	$0
SETH WALLER	DIRECTOR	2.00	Director	$0	$0	$0
STEPHANIE BONTEMPS	DIRECTOR	2.00	Director	$0	$0	$0
TJ HAYNES-MORGAN	EX OFFICIO DIRECTOR	2.00	Director	$0	$0	$0
BRIAN LONG	CFO	40.00	Officer	$358,167	$39,447	$397,614
EDWARD DEMARCO	CORPORATE SECRETARY, CAO	40.00	Officer	$590,978	$111,965	$702,943
FRANCIS GARRITT	DIR. OF SECURITIES LENDING	40.00	Key Emp	$363,946	$83,053	$446,999
KRISTEN KAMINSKI	DIRECTOR OF PEOPLE & CULTURE	40.00	Key Emp	$228,363	$18,444	$246,807
LORI M NITSCHKE-HANSEN	CMO	40.00	Key Emp	$377,944	$32,818	$410,762
SANDEEP KHARIDHI	CHIEF PRODUCT OFFICER	40.00	Key Emp	$306,015	$25,204	$331,219
STEVEN J MARTIN	HEAD OF MEMBERSHIP	40.00	Key Emp	$265,618	$39,563	$305,181
FREDA HO	CONTROLLER	40.00	Highest	$184,889	$15,518	$200,407
MICHAEL DELUCCHI	DIRECTOR OF MEMBER ENGAGEMENT	40.00	Highest	$229,920	$1,998	$231,918
STACEY E BLISSETT	CIO	40.00	Highest	$229,726	$40,456	$270,182
WILLIAM LOFTUS	RELATIONSHIP MANAGER	40.00	Highest	$202,082	$36,160	$238,242
WILLIAM TRUSCOTT	RELATIONSHIP MANAGER	40.00	Highest	$168,427	$34,612	$203,039
BRIAN WEISS	CHIEF STRATEGY OFFICER	40.00		$179,039	$0	$179,039

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
2023	$9,942,725	$10,376,234	No data	$-433,509
2023	$29,308,314	$31,834,387	$43,449,946	$-2,526,073
2022	$22,732,998	$23,947,517	$46,535,369	$-1,214,519
2021	$22,605,623	$22,030,357	$46,962,073	$575,266
2020	$22,291,271	$22,283,321	$38,862,836	$7,950
2019	$25,508,755	$24,673,226	$42,592,963	$835,529
2018	$26,015,689	$24,089,696	$43,645,185	$1,925,993