RISK ACCEPTANCE MANAGEMENT CORPORATION

EIN: 561619182 501(c)(3)

WINSTONSALEM, NC

Total Revenue
$4,248,054
Total Expenses
$44,431,951
Total Assets
N/A
Net Assets
N/A
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1988
Legal Domicile
NC
Principal Officer
KELLY LATHAM
Phone
3367476920
Tax Period
2021-07-01 to 2022-01-31

RISK ACCEPTANCE MANAGEMENT CORPORATION, founded in 1988, is a community nonprofit that reported $4.2M in total revenue in fiscal year 2021. Revenue decreased 16% compared to the prior year. Expenses of $44.4M exceeded revenue, resulting in a 946% operating deficit.

Mission

RISK ACCEPTANCE MANAGEMENT CORPORATION IS A NOT-FOR-PROFIT ORGANIZATION ESTABLISHED TO ADMINISTER THE CITY OF WINSTON-SALEM'S LIABILITY RISK MANAGEMENT PROGRAM. IN EXCHANGE, THE CITY AGREES TO MAKE AN ANNUAL PAYMENT IF INSUFFICIENT FOR ADMINISTRATION OF THE PROGRAM.

Program Service Accomplishments

Program 1
Expenses: $542,139

RISK ACCEPTANCE MANAGEMENT CORPORATION PROVIDES CERTAIN INSURANCE RELATED SERVICES AND ADMINISTERS CLAIMS AND RESERVE FUNDING ON BEHALF OF THE CITY OF WINSTON-SALEM, NORTH CAROLINA.

Program 2
Expenses: $43,598,956

RISK ACCEPTANCE MANAGEMENT CORPORATION TRANSFERRED ALL OF ITS NET ASSETS TO THE CITY OF WINSTON-SALEM, NORTH CAROLINA AND DISSOLVED EFFECTIVE JANUARY 5, 2022.

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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 (2021)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $0
Investment Income $4,248,054
Other Revenue $0
TOTAL REVENUE $4,248,054

Expense Breakdown

Grants Paid $43,598,956
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $44,141,095
Other Expenses $832,995
TOTAL EXPENSES $44,431,951

Year-over-Year Comparison

2021 2020 Change
Revenue $4,248,054 $5,040,675 -0.2%
Expenses $44,431,951 $3,719,340 +10.9%
Net Income $-40,183,897 $1,321,335 -31.4%
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
6
Independent Members
N/A
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
3
$526,051
Total Directors
6
$705,527
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
LISA M SAUNDERS PRESIDENT/DIRECTOR 1.00
Officer Director
$0 $26,629 $208,606
WILLIAM B ROWE VICE-PRESIDENT/DIRECTOR 1.00
Officer Director
$0 $34,827 $186,390
DENISE C ADAMS DIRECTOR 1.00
Director
$0 $12,785 $39,145
ROBERT CLARK DIRECTOR 1.00
Director
$0 $22,684 $45,172
DARIN N WEBSTER DIRECTOR 1.00
Director
$0 $15,601 $95,159
KELLY LATHAM SECRETARY/TREASURER 1.00
Officer Director
$0 $11,485 $131,055
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
2022 $4,248,054 $44,431,951 No data $-40,183,897
2021 $5,040,675 $3,719,340 $53,848,964 $1,321,335
2020 $2,547,188 $1,834,820 $40,760,590 $712,368
2019 $2,994,413 $3,169,952 $40,822,349 $-175,539
2018 $4,867,888 $3,671,777 $42,141,519 $1,196,111
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