INTERNATIONAL CITY MANAGEMENT ASSOCIATION RETIREMENT CORPORATION (EIN 237268394) - Form 990 Financial Analysis & Trantor Score

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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

1972

Legal Domicile

Principal Officer

ANDRE ROBINSON

Phone

2029624600

Tax Period

2023-01-01 to 2023-12-31

INTERNATIONAL CITY MANAGEMENT ASSOCIATION RETIREMENT CORPORATION, founded in 1972, is a major nonprofit in the Mutual Benefit sector that reported $269.0M in total revenue in fiscal year 2023. Net assets of $569.1M represent 25 months of operating reserves.

Mission

TO LESSEN THE BURDENS OF STATE AND LOCAL GOVERNMENTS... (CON'T ON SCHEDULE O, GENERAL STATEMENT 1) GENERAL STATEMENT 1TO LESSEN THE BURDENS OF STATE AND LOCAL GOVERNMENTS AND THEIR AGENCIES AND INSTRUMENTALITIES BY ASSISTING THEM IN ESTABLISHING AND ADMINISTERING QUALIFIED DEFERRED COMPENSATION AND OTHER RETIREMENT PLANS, AND BY PROVIDING THEM WITH RETIREMENT PLAN ADMINISTRATION AND ASSET MANAGEMENT SERVICES THAT INCLUDE BROAD-BASED FINANCIAL AND RETIREMENT PLANNING AND RELATED INVESTMENT EDUCATION SUPPORT. THE CORPORATION MAKES ITS SERVICES AVAILABLE TO ALL MUNICIPAL GOVERNMENT EMPLOYERS, INCLUDING MANY THAT HAVE LIMITED OR NO OTHER VIABLE RETIREMENT PLAN ADMINISTRATION OR PUBLIC TRUST INVESTMENT OPTIONS AVAILABLE TO THEM.

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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 (2023)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $248,794,425

Investment Income $19,092,569

Other Revenue $1,087,877

TOTAL REVENUE $268,974,871

Expense Breakdown

Grants Paid $18,500

Salaries & Benefits $140,317,655

Fundraising Expenses $0

Program Expenses $244,972,341

Other Expenses $127,227,936

TOTAL EXPENSES $267,564,091

Year-over-Year Comparison

	2023	2022	Change
Revenue	$268,974,871	$271,458,710	0.0%
Expenses	$267,564,091	$251,906,642	+0.1%
Net Income	$1,410,780	$19,552,068	-0.9%

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

734

Volunteers

N/A

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

$4,582,384

Total Directors

$3,501,642

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
MARC OTT	DIRECTOR	2.00	Director	$766	$52,456	$628,713
JOSEPH COYNE	DIRECTOR	2.00	Director	$6,845	$0	$6,845
ROBERT JONES	DIRECTOR	2.00	Director	$4,128	$0	$4,128
CYNTHIA STEER	DIRECTOR	2.00	Director	$2,616	$0	$2,616
BRIAN CLARKE	DIRECTOR	2.00	Director	$1,437	$0	$1,437
OPAL MAULDIN-JONES	DIRECTOR	2.00	Director	$0	$0	$0
MONA MIYASATO	DIRECTOR	2.00	Director	$0	$0	$0
DEANNA SANTANA AS OF 42523	ACTING PRESIDENT, CEO, DIRECTOR	40.00	Officer Director	$686,479	$31,355	$717,834
LYNNE FORD UNTIL 42423	PRESIDENT, CEO, DIRECTOR	40.00	Officer Director	$1,225,394	$914,675	$2,140,069
DAI SHI	TREASURER, CFO	40.00	Officer	$640,306	$305,976	$946,282
ANGELA MONTEZ	SECRETARY, CLO (AS OF 5/10/23)	40.00	Officer	$451,263	$45,459	$496,722
KATHERINE SCHULZE	SECRETARY, CLO (UNTIL 4/26/23)	40.00	Officer	$272,127	$9,350	$281,477
WAYNE WICKER	SVP, CHIEF INVESTMENT OFFICER	40.00	Highest	$1,871,738	$71,214	$1,942,952
KAREN CHONG-WULFF	MVP, FIXED INCOME INVESTMENTS	40.00	Highest	$1,041,852	$191,995	$1,233,847
ANDREW WHITING	SENIOR VICE PRESIDENT	40.00	Highest	$700,006	$215,530	$915,536
FLORA HEDRICK	MVP, ALTERNATIVE INVESTMENTS	40.00	Highest	$734,145	$139,672	$873,817
VENKATAKRISHNAN BALAKRISHNAN	MVP, ASSET ALLOC'N INVESTMENTS	40.00	Highest	$766,358	$68,581	$834,939

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	No data	No data	No data	No data
2023	$268,974,871	$267,564,091	$677,967,336	$1,410,780
2022	$271,458,710	$251,906,642	$643,097,063	$19,552,068
2021	$318,914,554	$272,532,940	$683,853,654	$46,381,614
2020	$249,374,685	$221,903,207	$583,812,371	$27,471,478
2019	$243,525,421	$253,798,109	$530,010,241	$-10,272,688
2018	$239,638,761	$247,712,121	$497,452,269	$-8,073,360

INTERNATIONAL CITY MANAGEMENT ASSOCIATION RETIREMENT CORPORATION