IRU Inc

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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

1986

Legal Domicile

Phone

7188920228

Tax Period

2024-01-01 to 2024-12-31

IRU Inc, founded in 1986, is a small nonprofit that reported $331K in total revenue in fiscal year 2024.

Mission

Education, professional development & networking services for members and potential member personnel including an annual conference & several seminar/webinar events annually. Also a scholarship essay program for college students interning at member companies and first-year in the business employees at member companies.

Program Service Accomplishments

Program 1

Expenses: $112,749 Revenue: $136,310

ANNUAL CONFERENCE PROGRAM SERVICE-This event, including the Annual Meeting of Members, is the marquee event & is the annual membership meeting where members elect officers & directors and vote on...

ANNUAL CONFERENCE PROGRAM SERVICE-This event, including the Annual Meeting of Members, is the marquee event & is the annual membership meeting where members elect officers & directors and vote on items affecting the corporation, such as bylaw changes and other major issues. Reports are received from the President, Secretary, Treasurer & Nomination Committee Chair. The Conference is a multi-day event featuring industry experts presenting a variety of relevant topics. Revenue is generated through conference registration fees and member company sponsorships.

Program 2

Expenses: $13,500 Revenue: $11,000

SCHOLARS PROGRAM SERVICE-Since 2015 this service has enabled college students interning at member companies the opportunity to submit an essay on a reinsurance-related topic with the prospect of...

SCHOLARS PROGRAM SERVICE-Since 2015 this service has enabled college students interning at member companies the opportunity to submit an essay on a reinsurance-related topic with the prospect of being selected for a cash award based on the decision of the Scholars Committee. This Committee is comprised solely of member company representatives who review and decide which essays, if any, are worthy of an award. The awards criteria are relevancy and quality of content. In 2022 the program was expanded from member company interns to include first-year in the business employees at member companies, too. In 2024, the sum of $11,000 was voluntarily contributed by members and $13,500 was disbursed to essay winners. Each year the Board of Directors will determine and authorize the total amount awarded based on he Committee's recommendations.

Program 3

Revenue: $980

JOURNAL OF REINSURANCE PROGRAM SERVICE-The Journal of Reinsurance has been discontinued as a stand-alone publication based on member feedback and changing available sources of information. The over 400 articles published over almost 30 years remain available free of charge to members and for a modest fee to non-members. Non-members may, and several do, continue to purchase a subscription in order to continue to access the articles. With the growth of social media, the association introduced a new Linked-in page called IRUA55 and this has replaced the Journal as a source of disseminating articles of a technical nature through hyperlinks.

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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 (2024)

Revenue Breakdown

Contributions & Grants $0

Program Service Revenue $310,735

Investment Income $20,071

Other Revenue $0

TOTAL REVENUE $330,806

Expense Breakdown

Grants Paid $13,500

Salaries & Benefits $71,875

Fundraising Expenses $0

Program Expenses $126,249

Other Expenses $254,929

TOTAL EXPENSES $340,304

Year-over-Year Comparison

	2024	2023	Change
Revenue	$330,806	$318,505	+0.0%
Expenses	$340,304	$318,257	+0.1%
Net Income	$-9,498	$248	-39.3%

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

Governance

Voting Members

Independent Members

Employees

N/A

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

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Jeremy R Wallis	Executive Director	30.00		$71,875	$0	$71,875
Nick Cook	Director	0.00	Director	$0	$0	$0
William Bernens	President	0.00	Officer Director	$0	$0	$0
Tim Poeton	Secretary	0.00	Officer Director	$0	$0	$0
Christiane Gross	Vice President	0.00	Officer Director	$0	$0	$0
Dwayne Elliott	Treasurer	0.00	Officer Director	$0	$0	$0
R Paul Carroll	Director	0.00	Director	$0	$0	$0
Jordan Bouthot	Director	0.00	Director	$0	$0	$0
Keith Cartmell	Director	0.00	Director	$0	$0	$0
Philip Clancey	Director	0.00	Director	$0	$0	$0
Kevin S Rentko	Director	0.00	Director	$0	$0	$0
Samuel DeGiovanni	Director	0.00	Director	$0	$0	$0
Meghan DiBona	Director	0.00	Director	$0	$0	$0
Brendan Furlong	Director	0.00	Director	$0	$0	$0
Micki Clemson	Director	0.00	Director	$0	$0	$0
Mayur Doshi	Director	0.00	Director	$0	$0	$0
Ho-Tay Ma	Director	0.00	Director	$0	$0	$0
Andrew L Downing	Director	0.00	Director	$0	$0	$0
Daniel Hojnowski	Director	0.00	Director	$0	$0	$0
Christian Thompson	Director	0.00	Director	$0	$0	$0
Abigail Allen	Director	0.00	Director	$0	$0	$0
Robert Martin	Director	0.00	Director	$0	$0	$0
Michael Schummer	Director	0.00	Director	$0	$0	$0
May McKevitt	Director	0.00	Director	$0	$0	$0
Tim Nawrocki	Director	0.00	Director	$0	$0	$0
Laura Herubin	Immed Past Pres	0.00	Officer Director	$0	$0	$0
Jennifer Uy	Director	0.00	Director	$0	$0	$0
Fabian Pilger	Director	0.00	Director	$0	$0	$0
Carl Weinberger	Director	0.00	Director	$0	$0	$0
John West	Director	0.00	Director	$0	$0	$0
James Wilson	Director	0.00	Director	$0	$0	$0
Meredith Ramcharan	Director	0.00	Director	$0	$0	$0
Emily Rudowitz	Director	0.00	Director	$0	$0	$0
Zack Ryan	Director	0.00	Director	$0	$0	$0
Steven Simmons	Director	0.00	Director	$0	$0	$0
Cathryn Thom	Director	0.00	Director	$0	$0	$0
Caitlin Herron	Director	0.00	Director	$0	$0	$0

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	$330,806	$340,304	$356,209	$-9,498
2023	$318,505	$318,257	$378,932	$248
2022	$312,193	$318,245	$369,909	$-6,052
2021	$166,056	$189,533	$375,736	$-23,477
2020	$177,065	$166,838	$398,763	$10,227