Overview
What is Risk Management Foundation?
The Risk Management Foundation (RMF) is a 501(c)(3) nonprofit organization situated in Evanston, Illinois. Its primary objective is to educate and support Sigma Chi Fraternity chapters and their house corporations in managing risks. RMF achieves this through various means, including an e-newsletter, risk management alerts, seminars, scholarships, and one-on-one assessments of risk management plans. The RiskWatch program, a renowned initiative of RMF, has been recognized for its effectiveness in communicating risk management practices to undergraduates. RMF extends membership to any chapter of Sigma Chi Fraternity or house corporation managing property for its benefit. Additionally, RMF offers insurance coverage to its subscribing members, currently protecting over 15,000 brothers and managing property worth $280 million. (113 words)
Official website here: www.rmfeducation.org
What are the reviews and ratings of this charity?
Rating from Charity Navigator: 96%, Four-Star out of Four Star rating.
The Risk Management Foundation has achieved a high score of 96%, reflecting exemplary performance in accountability and financial practices. This score is significant as it denotes the organization's commitment to transparency and effective governance, which is essential for building trust among donors and stakeholders. The foundation's full compliance with accountability measures, including a majority of independent board members and a robust audit process, contributes to its strong rating.
Strengths of the organization include a high program expense ratio of 97.01%, indicating that a substantial portion of its resources is directed towards its mission rather than administrative costs. The foundation also demonstrates thoroughness in its policies, including conflict of interest and whistleblower protections, which are key indicators of a responsible and ethical organization. The presence of documented board meeting minutes further reinforces its commitment to transparency.
While the data does not indicate any specific limitations, the high accountability score suggests a well-managed organization. Nevertheless, continuous efforts in maintaining these standards will be crucial for sustaining donor confidence and effective operation in the future. Overall, the Risk Management Foundation exemplifies a strong nonprofit committed to responsible management and effective use of resources.
This AI summary has been generated from information found on Charity Navigator.
Is Risk Management Foundation legitimate?
Risk Management Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Risk Management Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $132,153
Professional Fundraising Fees: $0
Other Salaries and Wages: $290,517
For more financial information, click here
Official website here: www.rmfeducation.org
What is the mission statement of Risk Management Foundation?
The Risk Management Foundation, as a not-for-profit educational foundation, is dedicated to educating chapters and house corporations of Sigma Chi Fraternity about risk management and offering aid during times of loss. It provides extensive educational resources, including an e-newsletter, electronic alerts, seminars, scholarships, and one-on-one assessments of risk management plans. The foundation's RiskWatch program has been recognized for its effectiveness in communicating risk management practices to undergraduates. The Risk Management Foundation offers risk management education and related services to its members, which are primarily chapters of Sigma Chi Fraternity and house corporations managing property for the fraternity's benefit. The foundation also provides its subscribing members with insurance coverage through affiliated brokers.
Official website here: www.rmfeducation.org
Who is the CEO of Risk Management Foundation?
Unavailable
Official website here: www.rmfeducation.org
What is the revenue of Risk Management Foundation?
Risk Management Foundation's revenue in 2022 was $5,409,546.
Official website here: www.rmfeducation.org
Who are the executives of Risk Management Foundation and what are their salaries?
The average compensation at Risk Management Foundation during 2022 was $84,534. There are 5 employees and 10 volunteers at Risk Management Foundation.
Here are 7 key members and their salaries:
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- Compensation: $116,031
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- Other: $16,121
Official website here: www.rmfeducation.org
Where can I find the form 990 for Risk Management Foundation?
Risk Management Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.rmfeducation.org
Learn more at the official website: www.rmfeducation.org
Mission Statement of Risk Management Foundation
The Risk Management Foundation, a not-for-profit 501(c)(3) organization, is dedicated to educating chapters and house corporations of Sigma Chi Fraternity about risk management and offering aid during times of loss. Its primary mission is to serve as an educational resource, providing extensive programming and materials related to risk management. This includes distributing an e-newsletter, issuing electronic risk management alerts, conducting local and international educational seminars, offering scholarships, and providing one-on-one assessments and reviews of risk management plans. The foundation's RiskWatch program has been recognized for its excellence in communicating risk management practices to undergraduates. In addition to its educational initiatives, the Risk Management Foundation offers risk management services to its members, making insurance coverage available to subscribing chapters and house corporations. At present, 97% of Sigma Chi's chapters are subscribing members, insuring over 15,000 brothers and protecting a property value of $280 million.
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Impact
October, 2024
The Risk Management Foundation (RMF) significantly enhances the safety and security of Sigma Chi Fraternity chapters and house corporations through comprehensive education on risk management. By offering extensive programming, including e-newsletters, educational seminars, and targeted assessments of member risk management plans, RMF equips its members with the knowledge and tools necessary to navigate potential risks effectively.
The success of RMF's initiatives is evident, as the RiskWatch program has garnered multiple awards for its excellence in communicating vital risk management practices. This educational emphasis not only fosters a culture of proactive risk management among the fraternity's members but also contributes to the overall well-being of the organization.
Moreover, RMF facilitates access to insurance coverage for subscribing members, underscoring its commitment to safeguarding the fraternity's financial stability and assets. With 97% of Sigma Chi's chapters actively participating in RMF, the foundation directly supports over 15,000 members and protects approximately $280 million in property value. This widespread engagement highlights RMF's critical role in reinforcing a risk-aware environment within the Sigma Chi community.
This information is meant to be a general summary of Risk Management Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $1,350,540
- Program Service Revenue: $3,904,297
- Gross Receipts: $10,427,847
Assets and Liabilities:
- Total Assets: $20,799,013
- Total Liabilities: $2,245,466
- Net Assets: $18,553,547
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBER SUBSCRIPTION FEES
Revenue
$3,874,297
Nazarene Trust Program Admin Fees
Revenue
$30,000
Organization Details
Founding Year
1988
Phone
(847) 869-3658Main Address
1714 Hinman Avenue, Evanston, IL, 60201
Website
www.rmfeducation.orgNTEE Category
Code: E73Z - Health
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