State Risk And Insurance Management Association
State Risk And Insurance Management Association maintains stable finances with volunteer leadership and consistent surpluses.
EIN: 10442447 · Bismarck, ND · NTEE: W03 · Updated: 2026-03-28
Is State Risk And Insurance Management Association Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
State Risk And Insurance Management Association directs 85% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About State Risk And Insurance Management Association
State Risk And Insurance Management Association (EIN: 10442447) is a nonprofit organization based in Bismarck, ND, classified under NTEE code W03. The organization reported total revenue of $361K and total assets of $394K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of State Risk And Insurance Management Association's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates State Risk And Insurance Management Association with a Mission Score of 90 out of 100 (Excellent). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 10%
- programs: 85%
- fundraising: 5%
According to IRS 990 filings, State Risk And Insurance Management Association allocates its expenses as follows: admin: 10%, programs: 85%, fundraising: 5%. With 85% directed toward programs, this reflects a strong commitment to its charitable mission.
Executive Compensation Analysis
Executive compensation is reported as 0% across all available filings, indicating that the organization's leadership is likely volunteer-based, which is highly efficient for an organization of its size with latest revenue of $360,700.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of State Risk And Insurance Management Association's IRS 990 filings:
- Deficit spending in 2022 ($345,943 expenses vs. $298,940 revenue)
Strengths
The following positive indicators were identified for State Risk And Insurance Management Association:
- Consistent financial surpluses in most recent years (e.g., 2023 revenue $347,041 vs. expenses $329,642)
- 0% reported officer compensation across all filings, indicating highly efficient leadership structure
- Healthy asset base ($459,354 in 2023) significantly exceeding liabilities ($24,963)
- Long history of consistent IRS 990 filings (13 filings), demonstrating transparency
- Strong asset growth over the long term (from $252,759 in 2014 to $459,354 in 2023)
Frequently Asked Questions about State Risk And Insurance Management Association
Is State Risk And Insurance Management Association a legitimate charity?
Based on AI analysis of IRS 990 filings, State Risk And Insurance Management Association (EIN: 10442447) some concerns. Mission Score: 90/100. 1 red flag identified, 5 strengths noted.
How does State Risk And Insurance Management Association spend its money?
State Risk And Insurance Management Association directs 85% of its spending to programs and services. The remaining budget covers administration and fundraising costs.
Are donations to State Risk And Insurance Management Association tax-deductible?
State Risk And Insurance Management Association is registered as a tax-exempt nonprofit (EIN: 10442447). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Is State Risk And Insurance Management Association a good charity?
Based on its financial filings, SRIMA appears to be a well-managed organization with consistent financial stability, low liabilities, and 0% reported officer compensation, suggesting efficient use of funds. Its mission as a professional association (NTEE W03) means its 'charitable' impact is likely through professional development and networking for its members.
How does SRIMA manage its leadership without officer compensation?
The consistent reporting of 0% officer compensation suggests that the organization's leadership roles are likely filled by volunteers, or compensation is structured in a way that is not classified as officer compensation on the 990 form, such as through contractor fees for specific services.
What caused the expense increase in 2022?
In 2022, expenses rose to $345,943 from $215,224 in 2021, while revenue only increased modestly. Without detailed expense breakdowns, it's difficult to pinpoint the exact cause, but it led to a deficit for that period.
Filing History
IRS 990 filing history for State Risk And Insurance Management Association showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), State Risk And Insurance Management Association's revenue has grown by 86.4%, moving from $186K to $347K. Total assets increased by 180.9% over the same period, from $164K to $459K. Total functional expenses rose by 149.1%, from $132K to $330K. In its most recent filing year (2023), State Risk And Insurance Management Association reported a surplus of $17K, with revenue exceeding expenses. The organization holds $25K in liabilities against $459K in assets (debt-to-asset ratio: 5.4%), resulting in net assets of $434K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. | |
|---|---|---|---|---|---|---|
| 2023 | $347K | $330K | $459K | $25K | — | — |
| 2022 | $299K | $346K | $442K | $25K | — | View 990 |
| 2021 | $220K | $215K | $489K | $25K | — | View 990 |
| 2020 | $49K | $19K | $459K | $0 | — | View 990 |
| 2019 | $285K | $200K | $430K | $0 | — | View 990 |
| 2018 | $306K | $272K | $345K | $0 | — | View 990 |
| 2017 | $262K | $273K | $311K | $0 | — | View 990 |
| 2016 | $236K | $210K | $322K | $0 | — | View 990 |
| 2015 | $227K | $184K | $295K | $0 | — | View 990 |
| 2014 | $230K | $150K | $253K | $0 | — | View 990 |
| 2013 | $233K | $219K | $173K | $0 | — | View 990 |
| 2012 | $195K | $199K | $160K | $0 | — | View 990 |
| 2011 | $186K | $132K | $164K | $0 | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $347K, expenses of $330K, and assets of $459K (revenue +16.1% year-over-year).
- 2022: Revenue of $299K, expenses of $346K, and assets of $442K (revenue +36.1% year-over-year).
- 2021: Revenue of $220K, expenses of $215K, and assets of $489K (revenue +348.2% year-over-year).
- 2020: Revenue of $49K, expenses of $19K, and assets of $459K (revenue -82.8% year-over-year).
- 2019: Revenue of $285K, expenses of $200K, and assets of $430K (revenue -6.8% year-over-year).
- 2018: Revenue of $306K, expenses of $272K, and assets of $345K (revenue +17.0% year-over-year).
- 2017: Revenue of $262K, expenses of $273K, and assets of $311K (revenue +10.8% year-over-year).
- 2016: Revenue of $236K, expenses of $210K, and assets of $322K (revenue +4.0% year-over-year).
- 2015: Revenue of $227K, expenses of $184K, and assets of $295K (revenue -1.1% year-over-year).
- 2014: Revenue of $230K, expenses of $150K, and assets of $253K (revenue -1.3% year-over-year).
- 2013: Revenue of $233K, expenses of $219K, and assets of $173K (revenue +19.4% year-over-year).
- 2012: Revenue of $195K, expenses of $199K, and assets of $160K (revenue +4.7% year-over-year).
- 2011: Revenue of $186K, expenses of $132K, and assets of $164K.
Data Sources and Methodology
This transparency report for State Risk And Insurance Management Association is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.