philanthropy.org | 990 Resource | FAQ Verify yourself
Sign in

Million Dollar Round Table

Not tax-deductible

Park Ridge, IL501(c)(6)Since 1969EIN 36-2138427Revenue $85.3M in FY2024

On file with the IRSmdrt.org325 W Touhy Ave, 60068-4204 · Park Ridge, ILTax-exempt since Sep 1969

Tell your story. Claim this org

The mission of the Million Dollar Round Table (mdrt) is to be a valued member-driven global network of leading insurance and investment financial service professionals who serve their clients by exemplary performance and the highest standard of ethics, knowledge, service, and productivity.

Run by 950 volunteers and 131 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 5
filings with a surplus
Average surplus $6.6M a year · 10% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$2.8M
to officers and key staff · 3% of spending
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 8.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$13.0M
8% of total assets
Looks good: liabilities are 8% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$85.3M
+22% vs prior year
Spent
$82.7M
Net assets
$140.2M
By yearFY2020–FY2024
Revenue
$85.3M
FY2024▲ +22%
Tap a bar for its year
Revenue by fiscal year
FY2020$46.0M
FY2021$77.5M
FY2022$61.6M
FY2023$70.0M
FY2024$85.3M
Expenses
$82.7M
FY2024▲ +28%
Tap a bar for its year
Expenses by fiscal year
FY2020$40.5M
FY2021$53.5M
FY2022$66.0M
FY2023$64.5M
FY2024$82.7M
Net assets
$140.2M
FY2024▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2020$118.2M
FY2021$132.4M
FY2022$119.5M
FY2023$133.5M
FY2024$140.2M

From the FY2024 Form 990 · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 1969.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

12 people listed on the 990; $2.8M paid to officers and key staff.

Part VII, Section A · reportable compensation
$994,021Pt VII · Sec A
Barbara O'Connor
Managing Director
$333,529Pt VII · Sec A
Smruti Rajagopalan
Senior Director, Strategy
$286,280Pt VII · Sec A
Laura Good
Senior Director, HR
$280,909Pt VII · Sec A
Pamela Brown
Director of Leadership and
$266,080Pt VII · Sec A
James Unander
Senior Director of IT
$257,583Pt VII · Sec A
Carol Kheng
President
$112,308Pt VII · Sec A
Greg Gagne
Past President
$88,788Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Stephen Stahr$994,021$925,803$931,119$720,400$758,674
Barbara O'Connor$333,529$306,074$280,413$291,288$267,015
Pam Brown—$297,061$240,540——
Smruti Rajagopalan$286,280$266,857$245,674$280,058—
Laura Good$280,909$262,994$238,755$246,844$229,352
Mark Leon——$116,780$271,011$268,481
Pamela Brown$266,080—$245,311—$230,236
David Dickhudt—$266,018———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Million Dollar Round Table executive salaries →

On this list? Claim this org

Something off? Claim to fix it

Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Connects top financial professionals to share best practices and ethics for client service.

Questions for Million Dollar Round Table

Tap to ask. Million Dollar Round Table sees how many people are interested.

Your first name shows with your question. Million Dollar Round Table answers here, for everyone.

Provided by the organization

Know this org? Add your story

3 programs · in their own filed words · FY2024
01

MDRT hosts meetings programmed with educational and motivational content designed to benefit the careers of insurance and financial services professionals. During 2024, these meetings were attended by over 13,000 insurance and financial services professionals.

Pt IX · col B
02

MDRT provides digital content that is housed on its resource zone. This includes MDRT podcasts, videos, meeting transcripts, and the MDRT blog.

Pt IX · col B
03

MDRT publishes a bi-monthly periodical that concentrates on trends and opportunities specific to the financial services profession.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 15 grants · $15.7M · 2020–2024
Mdrt AcademyIL · FY2024$9,556,327
Mdrt Global ServicesIL · FY2024$3,198,678
Million Dollar Round Table FoundationIL · FY2024$314,417
Asae Research FoundationDC · FY2024$10,000
Million Dollar Round Table FoundationIL · FY2023$313,033
Asae Research FoundationDC · FY2023$10,000
Million Dollar Round Table FoundationIL · FY2022$313,843
Million Dollar Round Table FoundationIL · FY2022$313,843
Asae Research FoundationDC · FY2022$10,000
Asae Research FoundationDC · FY2022$10,000
Life and Health Insurance Foundation for EducationVA · FY2021$500,000
Million Dollar Round Table FoundationIL · FY2021$336,528
Asae Research FoundationDC · FY2021$22,000
Million Dollar Round Table FoundationIL · FY2020$760,067
Asae Research FoundationDC · FY2020$9,820

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$85.3M
Ln 12
Fees for servicesLn 2g$74.7M
Investment incomeLn 3$10.0M
Other incomeLn 4–11$593K
Money outPt IX
$82.7M
Ln 25
Owns and owesPt X
$140.2M
net assets · Ln 32
Cash and savingsLn 1–2$58.2M
Total assetsLn 16$153.2M
LiabilitiesLn 26$13.0M
PeoplePt VI, VII
12
listed · VII A
PaidVII A12
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$74.7M
Investment incomeLn 3$10.0M
Other incomeLn 4–11$593K
Gains on assetsLn 7$3.3M
Total revenueLn 12$85.3M
Assets in detailPt X, end of year
SavingsLn 2$58.2M
Cash and savings togetherLn 1–2$58.2M
InvestmentsLn 11–13$89.3M
Land, buildings, equipmentLn 10c$265K
Other assetsLn 15$3.0M
Total assetsLn 16$153.2M
LiabilitiesLn 26$13.0M
Net assetsLn 32$140.2M
OperationsPt I, VI
EmployeesI 5131
VolunteersI 6950
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$54.7M$58.2M
InvestmentsLn 11–13$79.5M$89.3M
Land, buildings, equipmentLn 10c$265K$265K
Total assetsLn 16$150.8M$153.2M
LiabilitiesLn 26$17.4M$13.0M
Net assetsLn 32$133.5M$140.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$13.1M
Pay of current officers, directors and key staffLn 5$1.5M
Other salaries and wagesLn 7$15.1M
Pension plan contributionsLn 8$2.0M
Other employee benefitsLn 9$3.7M
Payroll taxesLn 10$1.1M
Legal feesLn 11b$727K
Accounting feesLn 11c$207K
Investment management feesLn 11f$417K
Other fees for servicesLn 11g$2.8M
Advertising and promotionLn 12$2.5M
Office expensesLn 13$1.2M
Information technologyLn 14$6.7M
OccupancyLn 16$952K
TravelLn 17$2.0M
Conferences, conventions and meetingsLn 19$20.9M
InsuranceLn 23$366K
Other expenses (24a–d)Ln 24$6.9M
All other expensesLn 24e$492K
Total functional expensesLn 25$82.7M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $85.3M$82.7M$2.5M$140.2M 990 PDF
FY2023 $70.0M$64.5M$5.5M$133.5M 990 PDF
FY2022 $61.6M$66.0M−$4.4M$119.5M 990 PDF
FY2021 $77.5M$53.5M$24.0M$132.4M 990 PDF
FY2020 $46.0M$40.5M$5.5M$118.2M 990 PDF

More to add? Claim this org

Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2024 990 (6 parts)
Part I · Summary $85,265,275 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $67,640,911$74,675,923
I-10 Investment incomePrior year $1,692,140$9,996,310
I-11 Other revenuePrior year $637,148$593,042
I-12 Total revenuePrior year $69,970,199$85,265,275
I-13 Grants and similar amounts paidPrior year $333,086$13,084,205
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $20,576,427$23,454,331
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $43,554,147$46,179,394
I-18 Total expensesPrior year $64,463,660$82,717,930
I-19 Revenue less expensesPrior year $5,506,539$2,547,345
Part VI · Governance 5 of 5 board members independent, no flags
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $85,265,275 across 5 lines filed
Lines not itemized here account for $476,047 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $74,675,923$74,675,923
VIII-3 Investment incomeExcluded from tax $6,712,638$6,712,638
VIII-7 Net gain or loss on sales of assetsExcluded from tax $3,283,672$3,283,672
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $116,995$116,995
VIII-12 Total revenueRelated to mission $74,675,923 · Unrelated business $0 · Excluded from tax $10,589,352$85,265,275
Part IX · Statement of functional expenses $82,717,930 across 19 lines filed
IX-1 Grants to domestic organizations$13,084,205
IX-5 Pay of current officers, directors and key staff$1,549,259
IX-7 Other salaries and wages$15,080,016
IX-8 Pension plan contributions$2,005,158
IX-9 Other employee benefits$3,681,271
IX-10 Payroll taxes$1,138,627
IX-11b Legal fees$727,005
IX-11c Accounting fees$207,136
IX-11f Investment management fees$416,733
IX-11g Other fees for services$2,818,541
IX-12 Advertising and promotion$2,530,991
IX-13 Office expenses$1,198,465
IX-14 Information technology$6,670,479
IX-16 Occupancy$951,929
IX-17 Travel$2,026,129
IX-19 Conferences, conventions and meetings$20,867,584
IX-23 Insurance$366,174
IX-24 Other expenses (24a–d)$6,906,355
IX-24e All other expenses$491,873
IX-25 Total functional expenses$82,717,930
Part X · Balance sheet $153,169,745 assets, 16 lines filed
X-2 Savings and temporary cash investmentsStart of year $54,696,258$58,236,617
X-4 Accounts receivableStart of year $156,782$254,501
X-8 Inventories for sale or useStart of year $232,213$255,782
X-9 Prepaid expenses and deferred chargesStart of year $2,377,908$1,835,603
X-10c Land, buildings and equipment, netStart of year $265,000$265,000
X-11 Publicly traded securitiesStart of year $41,640,494$34,147,418
X-12 Other securitiesStart of year $37,893,797$55,179,610
X-15 Other assetsStart of year $13,565,517$2,995,214
X-16 Total assetsStart of year $150,827,969$153,169,745
X-17 Accounts payable and accrued expensesStart of year $7,106,462$4,542,695
X-19 Deferred revenueStart of year $1,984,982$847,203
X-25 Other liabilitiesStart of year $8,285,015$7,571,357
X-26 Total liabilitiesStart of year $17,376,459$12,961,255
X-27 Net assets without donor restrictionsStart of year $133,451,510$140,208,490
X-32 Total net assets or fund balancesStart of year $133,451,510$140,208,490
X-33 Total liabilities and net assetsStart of year $150,827,969$153,169,745
Part XI · Reconciliation of net assets $140,208,490 net assets at year end
XI-1 Total revenue$85,265,275
XI-2 Total expenses$82,717,930
XI-3 Revenue less expenses$2,547,345
XI-4 Net assets at start of year$133,451,510
XI-5 Net unrealized gains (losses) on investments$1,359,981
XI-9 Other changes in net assets$2,849,654
XI-10 Net assets at end of year$140,208,490

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

Similar organizations you could support · Compare with another nonprofit

Names, privacy, and removal requests More

The names, titles, and compensation shown on this page are reproduced from IRS Form 990 filings, which are public records.

Philanthropy.org does not alter the content of those filings. All information appears exactly as reported by the filing organization for the tax year shown.

We publish only information contained in the public IRS filing — and less than the filing contains. Our profile pages do not display street addresses, telephone numbers, personal email addresses, or other personal contact information, even where the filing includes them.

Many people share the same name. A name shown on this page reflects only what one organization reported in one IRS filing for one tax year. It should not be interpreted as identifying any other individual with the same or a similar name.

If you are no longer affiliated with the organization, your name will generally stop appearing in future IRS filings once the organization no longer reports you. Pages for tax years in which you were reported remain published because those filings remain part of the public record.

Philanthropy.org does not alter or remove IRS filing records. Removing a page from this website would not remove the underlying IRS filing, which remains publicly available from the IRS and other publishers of the same information.

If you believe the IRS filing itself is inaccurate, corrections must be made by the filing organization or the IRS directly.

Your org? Add context

Made it to the end? Claim this org

All figures are derived from public IRS Form 990 filings and are presented without evaluation of any organization. philanthropy.org does not rate, score, or rank organizations, including the pay comparisons above.