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Risk Management Associates Rma

Chesapeake, VA501(c)(6)Mutual / membership EIN 52-1829341Revenue $111K in FY2025

On file with the IRS732 Eden Way North Ste 274e, 23320-2798 · Chesapeake, VATax-exempt since Mar 1979

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The organization gathers and shares business information for its members and the business community in general.

74¢ of each $1 spent went to programs.
Run by 126 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

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FY2025 · 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
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $7K a year · 8% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
74%
of spending
Fine: 74% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
36 mo
of spending, in cash
Looks good: 35.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
23
of 23 voting members
Looks good: 23 of 23 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$111K
-7% vs prior year
Spent
$98K
To programs
74%
Net assets
$294K
By yearFY2021–FY2025
Revenue
$111K
FY2025▼ -7%
Tap a bar for its year
Revenue by fiscal year
FY2021$6K
FY2022$70K
FY2023$116K
FY2024$120K
FY2025$111K
Expenses
$98K
FY2025▼ -22%
Tap a bar for its year
Expenses by fiscal year
FY2021$12K
FY2022$100K
FY2023$121K
FY2024$126K
FY2025$98K
Net assets
$294K
FY2025+0.4%
Tap a bar for its year
Net assets by fiscal year
FY2021$327K
FY2022$305K
FY2023$300K
FY2024$293K
FY2025$294K

From the FY2025 Form 990 (year ending August 2025) · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1979.

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

Where the money goes

74 cents of each dollar spent went to programs.

Program services 74% · $73K Management & general 26% · $25K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
Curt Solomon
Advisory Board Chair
$0Pt VII · Sec A
Beth Watson
Immediate Past President
$0Pt VII · Sec A
$0Pt VII · Sec A
Bradley Hines
Secretary
$0Pt VII · Sec A
Kim Briggs
Vice President
$0Pt VII · Sec A
See Risk Management Associates Rma executive salaries →

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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 15aNo

Programs and updates

Collects and shares business information for members and the wider community.

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Provided by the organization

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1 program · $73K · in their own filed words · FY2024
01

Hosted conferences that promoted an enterprise approach to risk management that focuses on credit risk, market risk, operational risk securities lending and regulatory issues.

$73Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$111K
Ln 12
Fees for servicesLn 2g$103K
Investment incomeLn 3$6K
Other incomeLn 4–11$1K
Money outPt IX
$98K
Ln 25
Programscol B$73K
Managementcol C$25K
Owns and owesPt X
$294K
net assets · Ln 32
Cash and savingsLn 1–2$294K
Total assetsLn 16$294K
LiabilitiesLn 26$0
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a23
IndependentVI 1b23
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$900
Fees for servicesLn 2g$103K
Investment incomeLn 3$6K
Other incomeLn 4–11$1K
Total revenueLn 12$111K
Assets in detailPt X, end of year
CashLn 1$294K
Cash and savings togetherLn 1–2$294K
Total assetsLn 16$294K
LiabilitiesLn 26$0
Net assetsLn 32$294K
OperationsPt I, VI
EmployeesI 50
VolunteersI 6126
Fiscal year endsHeaderAugust
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 FY25End FY25
Cash and savingsLn 1–2$293K$294K
Total assetsLn 16$293K$294K
LiabilitiesLn 26$0$0
Net assetsLn 32$293K$294K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$11K$11K
TravelLn 17$403$403
Conferences, conventions and meetingsLn 19$17K$10K$8K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$66K$63K$3K
Total functional expensesLn 25$98K$73K$25K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $111K$98K$13K$294K 990 PDF
FY2024 $120K$126K−$7K$293K 990 PDF
FY2023 $116K$121K−$5K$300K 990 PDF
FY2022 $70K$100K−$30K$305K 990 PDF
FY2021 $6K$12K−$6K$327K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $111,201 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,343$900
I-9 Program service revenuePrior year $110,429$103,132
I-10 Investment incomePrior year $5,038$5,938
I-11 Other revenuePrior year $1,701$1,231
I-12 Total revenuePrior year $119,511$111,201
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $126,360$98,422
I-18 Total expensesPrior year $126,360$98,422
I-19 Revenue less expensesPrior year −$6,849$12,779
Part VI · Governance 23 of 23 board members independent, 1 to look at
VI-1a Voting members of the governing body23
VI-1b Independent voting members23
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $111,201 across 7 lines filed
VIII-1b Membership dues$900
VIII-1h Total contributions, gifts and grants$900
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $103,132$103,132
VIII-3 Investment incomeExcluded from tax $5,938$5,938
VIII-8 Net income from fundraising events$0
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $1,231$1,231
VIII-12 Total revenueRelated to mission $104,363 · Unrelated business $0 · Excluded from tax $5,938$111,201
Part IX · Statement of functional expenses $98,422 across 5 lines filed
IX-11c Accounting feesManagement $10,695$10,695
IX-17 TravelPrograms $403$403
IX-19 Conferences, conventions and meetingsPrograms $9,840 · Management $7,545$17,385
IX-23 InsuranceManagement $3,792$3,792
IX-24 Other expenses (24a–d)Programs $62,905 · Management $3,242$66,147
IX-25 Total functional expensesPrograms $73,148 · Management $25,274 · Fundraising $0$98,422
Part X · Balance sheet $294,121 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $292,990$294,121
X-16 Total assetsStart of year $292,990$294,121
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $292,990$294,121
X-32 Total net assets or fund balancesStart of year $292,990$294,121
X-33 Total liabilities and net assetsStart of year $292,990$294,121
Part XI · Reconciliation of net assets $294,121 net assets at year end
XI-1 Total revenue$111,201
XI-2 Total expenses$98,422
XI-3 Revenue less expenses$12,779
XI-4 Net assets at start of year$292,990
XI-8 Prior period adjustments−$11,648
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$294,121

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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