Nonprofit · EIN 02-0571577
GLOBAL ASSOCIATIONS OF RISK PROFFESIONALS INC
Tax-exempt · JERSEY CITY, NJ 07310
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $41,441,148 | $42,684,422 | -$1,243,274 | $61,229,289 | $18,847,387 | $42,381,902 |
| December 31, 2023 | 990 | $48,472,078 | $42,687,451 | $5,784,627 | $65,472,728 | $23,508,673 | $41,964,055 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $0
- Program service revenue
- $37,001,823
- Investment income
- $3,005,334
- Royalties
- $3,441
- Net gain from sales of assets
- $1,488,611
- Other revenue
- $1,433,991
Expenses
- Grants and similar amounts paid
- $3,500
- Compensation of officers, directors and key employees
- $4,427,004
- Other salaries and wages
- $16,540,519
- Salaries, compensation and benefits (total)
- $24,853,493
- Professional fundraising fees
- $0
- Legal fees
- $458,795
- Accounting fees
- $237,214
- Occupancy
- $3,069,895
- Travel
- $377,488
- Depreciation
- $1,038,167
Balance sheet and other
- Total assets, start of year
- $65,472,728
- Total assets, end of year
- $61,229,289
- Total liabilities, end of year
- $18,847,387
- Net assets, end of year
- $42,381,902
- Land, buildings and equipment
- $1,057,507
- Publicly traded securities
- $41,757,375
- Net assets without donor restrictions
- $42,381,902
- Gross unrelated business income
- $961,700
- Gross receipts
- $44,952,537
- Employees
- 93
- Volunteers
- 0
- Year formed
- 2002
- State of legal domicile
- NJ
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RICHARD APOSTOLIK | PRESIDENT & CEO Trustee or director, Officer | 45 | $1,991,087 | $50,219 |
| CHRISTOPHER J DONOHUE | MANAGING DIRECTOR Key employee | 50 | $1,066,809 | $67,325 |
| PRISCELLA CERVANTES | CFO/CAO Officer | 38 | $842,635 | $67,376 |
| RACHEL LERNER | GENERAL COUNSEL Highest-paid employee | 40 | $837,640 | $68,480 |
| WILLIAM HENRY MAY | SVP, GLOBAL HEAD OF RESEARCH Highest-paid employee | 40 | $687,753 | $70,683 |
| JOANNA PAISLEY | CO PRESIDENT GRI Highest-paid employee | 40 | $725,700 | $0 |
| MICHAEL WILLIAM SELL | HEAD OF BUSINESS DEVELOPMENT Highest-paid employee | 40 | $568,665 | $65,192 |
| JEFFREY MAH | CIO Key employee | 40 | $493,301 | $68,596 |
| JULIAN HUNGCHUN CHEN | SVP, CERTIFICATION AND EDU Highest-paid employee | 40 | $439,945 | $71,294 |
| LILY PAN | MANAGING DIRECTOR Key employee | 40 | $333,172 | $50,098 |
| BRADFORD HU | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| BEN GOLUB | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ANDREW GRAY | TRUSTEE Trustee or director | 1 | $0 | $0 |
| GEOFFREY GREENER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| STUART LEWIS | TRUSTEE Trustee or director | 1 | $0 | $0 |
7 more people on this return
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JACQUES LONGERSTAEY | TRUSTEE Trustee or director | 1 | $0 |
| VICTOR NG | TRUSTEE Trustee or director | 1 | $0 |
| LEWIS O'DONALD | TRUSTEE Trustee or director | 1 | $0 |
| ALESSA QUANE | TRUSTEE Trustee or director | 1 | $0 |
| FRANK RONCEY | TRUSTEE Trustee or director | 1 | $0 |
| ALAN SMITH | TRUSTEE Trustee or director | 1 | $0 |
| PETER TUFANO | TRUSTEE Trustee or director | 1 | $0 |
990 for the year ended December 31, 2023: 22 people
| Name | Title | Hours / week | Compensation | Other / benefits |
|---|---|---|---|---|
| RICHARD APOSTOLIK | PRESIDENT & CEO Trustee or director, Officer | 45 | $1,839,533 | $1,042,429 |
| CHRISTOPHER J DONOHUE | MANAGING DIRECTOR Key employee | 50 | $1,036,381 | $662,235 |
| PRISCELLA CERVANTES | CFO/CAO Officer | 38 | $767,208 | $364,536 |
| RACHEL LERNER | GENERAL COUNSEL Highest-paid employee | 40 | $722,092 | $264,749 |
| JOANNA PAISLEY | CO PRESIDENT GRI Highest-paid employee | 40 | $714,958 | $0 |
| WILLIAM HENRY MAY | SVP, GLOBAL HEAD OF RESEARCH Highest-paid employee | 40 | $611,112 | $64,988 |
| MICHAEL WILLIAM SELL | HEAD OF BUSINESS DEVELOPMENT Highest-paid employee | 40 | $473,843 | $60,274 |
| JEFFREY MAH | CIO Key employee | 40 | $446,073 | $68,996 |
| JULIAN HUNGCHUN CHEN | SVP, CERTIFICATION AND EDU Highest-paid employee | 1 | $400,809 | $68,248 |
| LILY PAN | MANAGING DIRECTOR Key employee | 40 | $306,845 | $44,822 |
| BRADFORD HU | CHAIRMAN Trustee or director, Officer | 1 | $0 | $0 |
| BEN GOLUB | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ANDREW GRAY | TRUSTEE Trustee or director | 1 | $0 | $0 |
| GEOFFREY GREENER | TRUSTEE Trustee or director | 1 | $0 | $0 |
| STUART LEWIS | TRUSTEE Trustee or director | 1 | $0 | $0 |
| JACQUES LONGERSTAEY | TRUSTEE Trustee or director | 1 | $0 | $0 |
| VICTOR NG | TRUSTEE Trustee or director | 1 | $0 | $0 |
| LEWIS O'DONALD | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ALESSA QUANE | TRUSTEE Trustee or director | 1 | $0 | $0 |
| FRANK RONCEY | TRUSTEE Trustee or director | 1 | $0 | $0 |
| ALAN SMITH | TRUSTEE Trustee or director | 1 | $0 | $0 |
| PETER TUFANO | TRUSTEE Trustee or director | 1 | $0 | $0 |
Address and contacts
- Address (IRS master file)
- 111 TOWN SQUARE PLACE 14TH FLR, JERSEY CITY, NJ 07310-1755
- In care of
- % PRISCELLA CERVANTES
- Principal officer (990 for 2024)
- RICHARD APOSTOLIK, 111 TOWN SQUARE PLACE 14TH FLR, JERSEY CITY, NJ 07310
- Signed the 990
- PRISCELLA CERVANTES, CFO
- Phone
- (201) 719-7210
- Website
- WWW.GARP.COM
- Return prepared by
- GRANT THORNTON ADVISORS LLC
Mission
GARP IS THE WORLD'S LEADING PROFESSIONAL ASSOCIATION FOR RISK MANAGERS, DEDICATED TO THE ADVANCEMENT OF THE PROFESSION THROUGH EDUCATION, RESEARCH, AND THE PROMOTION OF BEST PRACTICES. THE GLOBAL ASSOCIATION OF RISK PROFESSIONALS (GARP) IS A NOT-FOR-PROFIT ORGANIZATION AND THE ONLY GLOBALLY RECOGNIZED MEMBERSHIP ASSOCIATION FOR RISK MANAGERS. GARP'S GOAL IS TO HELP CREATE A CULTURE OF RISK AWARENESS WITHIN ORGANIZATIONS, FROM ENTRY LEVEL TO BOARD LEVEL. IN THE AREA OF FINANCIAL RISK MANAGEMENT, GARP SETS THE GLOBAL STANDARD IN PROFESSIONAL DESIGNATION WITH THE FRM (FINANCIAL RISK MANAGER) CERTIFICATION AND SCR (SUSTAINABILITY AND CLIMATE) CERTIFICATE. THROUGH OUR EDUCATIONAL PROGRAMS, SPECIALIZED CONTENT, IN-PERSON OR ONLINE EVENTS, AND CHAPTER PROGRAM, GARP PROMOTES BEST PRACTICES IN RISK MANAGEMENT AND SUPPORTS ONGOING PROFESSIONAL AND CAREER DEVELOPMENT FOR RISK MANAGERS.
Program accomplishments
- SEE SCHEDULE OPROFESSIONAL CERTIFICATION & EDUCATIONAL PROGRAMS CERTIFICATION: GARP SETS THE GLOBAL STANDARD IN PROFESSIONAL CERTIFICATION WITH THE FRM (FINANCIAL RISK MANAGER) CERTIFICATION AND THE SCR (SUSTAINABILITY AND CLIMATE RISK) CERTIFICATE. IT OFFERS THESE EXAMS ANNUALLY. THESE PROGRAMS ARE RIGOROUS AND VERY WELL RESPECTED ACROSS THE GLOBE. BY DEMONSTRATING EXPERTISE AND COMMITMENT TO BETTER RISK MANAGEMENT PRACTICES, CERTIFIED FRMS AND SCR HOLDERS STAND APART IN THEIR RESPECTIVE ORGANIZATIONS. EDUCATION AND AWARENESS: EVERYONE HAS AN IMPORTANT ROLE TO PLAY IN SUPPORTING A ROBUST RISK CULTURE. WHETHER IT IS EDUCATING AN ENTERPRISE, OR EDUCATING FINANCIAL PROFESSIONALS ACROSS AN ENTIRE COUNTRY, GARP PARTNERS WITH FIRMS AND CENTRAL BANKS TO DELIVER FOUNDATIONAL AND ADVANCED RISK AWARENESS PROGRAMS. THROUGH THESE PROGRAMS WE HAVE ENABLED TENS OF THOUSANDS OF FINANCE PROFESSIONALS GLOBALLY TO PROMOTE A RISK-AWARE CULTURE.
- SEE SCHEDULE OBENCHMARKING INITIATIVE AND RISK INTELLIGENCE GARP BENCHMARKING INITIATIVE (GBI): IN THIS TIME OF INCREASING ECONOMIC GLOBALIZATION AND MARKET INTERCONNECTEDNESS, THE CAUSES OF AND APPROACHES TO DEALING WITH GLOBAL SYSTEMIC RISK ISSUES ARE OF IMMENSE IMPORTANCE. BANKS AS WELL AS THEIR REGULATORS ARE IN NEED OF WAYS TO APPROPRIATELY DEVELOP, IMPLEMENT AND ANALYZE STUDIES TO TEST AND BENCHMARK BANK RISK SYSTEMS AND APPROACHES. GBI IS PLAYING A MAJOR AND GLOBALLY UNIQUE ROLE IN ANALYZING THE PROCESSES RELATED TO HYPOTHETICAL PORTFOLIO EXERCISES, QUANTITATIVE IMPACT STUDIES, AND OTHER MUCH NEEDED BENCHMARKING ACTIVITIES.RISK INTELLIGENCE: KEEPING UP WITH THE EVER-EVOLVING RISK LANDSCAPE IS CHALLENGING, BUT ESSENTIAL FOR RISK PROFESSIONALS AND THE INDUSTRY TO COLLECTIVELY SAFEGUARD THE WORLD'S FINANCIAL MARKETS. GARP DELIVERS CRITICAL RISK INTELLIGENCE: INDUSTRY SURVEYS, SPECIAL REPORTS, NEWS, ANALYSIS, WHITEPAPERS, WEBINARS AND MORE, TO ENSURE THAT THE COMMUNITY HAS THE VERY LATEST INTELLIGENCE TO DRIVE INFORMED DECISION MAKING.
- ANNUAL CONFERENCE: THE ORGANIZATION OFFERS AN ANNUAL CONFERENCE IN ADDITION TO OCCASIONAL SEMINARS AND OTHER EVENT PROGRAMS, OFFERS DISCOUNTS ON GARP AND OTHER THIRD-PARTY PUBLICATIONS, A MEMBERSHIP PROGRAM, AND OFFERS ACCESS TO A CAREER CENTER TO POST RESUMES AND SEARCH FOR JOB OPPORTUNITIES.
- CONNECTING THE RISK LEADERSHIP AND THE GLOBAL RISK COMMUNITY: ADDRESSING RISK IS A TEAM EFFORT, AND WITH OVER 112,000 MEMBERS IN 150 COUNTRIES AND TERRITORIES - GARP MEMBERS ARE MAKING A DIFFERENCE. GARP MEMBERSHIP PROVIDES THE COMMUNITY WITH ENGAGEMENT OPPORTUNITIES TO HAVE A VOICE IN INDUSTRY RESEARCH, UNPARALLELED NETWORKING OPPORTUNITIES, ACCESS TO RISK INTELLIGENCE, AND MUCH, MUCH MORE. OUR CONVENTIONS, TOGETHER WITH 51 CHAPTER DIRECTORS REPRESENTING 29 CHAPTERS IN MORE THAN A DOZEN COUNTRIES AROUND THE WORLD, GIVE THE COMMUNITY THE OPPORTUNITY TO MEET AND LEARN FROM ONE ANOTHER. ADDITIONALLY, OUR CONTINUING PROFESSIONAL DEVELOPMENT (CPD) PROGRAM OFFERS RISK PROFESSIONALS ACCESS TO THE VERY LATEST IN RISK EDUCATION, PAVING THE WAY FOR A CLEAR VIEW OF THE RISK HORIZON.ONGOING DIALOG BETWEEN REGULATORS, PRACTITIONERS AND LEADING ACADEMIC EXPERTS IS CRITICAL TO HELP BETTER UNDERSTAND AND SOLVE FOR THE EVER-INCREASING NUMBER OF FINANCIAL AND OPERATIONAL RISK CHALLENGES FACING THE WORLD'S MARKETS TODAY. IT'S IMPORTANT FOR THIS KIND OF DIALOG TO BE OPEN, OBJECTIVE AND NOT MOTIVATED BY PARTISAN AGENDA. WE FACILITATE OBJECTIVE AND NON-PARTISAN DIALOGUE THROUGH REGULARLY HOSTING GLOBAL RISK FORUMS WHERE REGULATORS, PRACTITIONERS, AND LEADING ACADEMICS COLLECTIVELY AND COLLABORATIVELY ADDRESS IMPORTANT RISK ISSUES.
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 02-0571577
- Tax-exempt status
- 501(c)(6): Business league or chamber of commerce
- Donations deductible
- No
- Exempt since
- 2004
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Category (NTEE)
- Community improvement and capacity building (S41)
- Assets (IRS master file)
- $61,229,289
- Income (IRS master file)
- $44,952,537
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $41,441,148 | $42,684,422 | $61,229,289 | XML |
| 990 | December 2023 | $48,472,078 | $42,687,451 | $65,472,728 | XML |
| 990 | December 2022 | $42,600,268 | $42,512,198 | $64,361,453 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
| 990 | December 2018 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 02-0571577).
Questions about GLOBAL ASSOCIATIONS OF RISK PROFFESIONALS INC
- What is the EIN of GLOBAL ASSOCIATIONS OF RISK PROFFESIONALS INC?
- The employer identification number (EIN) of GLOBAL ASSOCIATIONS OF RISK PROFFESIONALS INC is 02-0571577.
- Is GLOBAL ASSOCIATIONS OF RISK PROFFESIONALS INC tax-exempt?
- Yes. The IRS lists it as tax-exempt under section 501(c)(6) since 2004.
- Are donations to GLOBAL ASSOCIATIONS OF RISK PROFFESIONALS INC tax-deductible?
- No. The IRS master file says contributions to it are not deductible.
- Which annual return does GLOBAL ASSOCIATIONS OF RISK PROFFESIONALS INC file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of GLOBAL ASSOCIATIONS OF RISK PROFFESIONALS INC due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did GLOBAL ASSOCIATIONS OF RISK PROFFESIONALS INC last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of GLOBAL ASSOCIATIONS OF RISK PROFFESIONALS INC?
- The 990 for the year ended December 31, 2024 names RICHARD APOSTOLIK.
- Who are the officers and directors of GLOBAL ASSOCIATIONS OF RISK PROFFESIONALS INC?
- The 990 for the year ended December 31, 2024 lists 22 people; 10 received compensation from the organization, the highest $1,991,087 (RICHARD APOSTOLIK, PRESIDENT & CEO).
- How much revenue does GLOBAL ASSOCIATIONS OF RISK PROFFESIONALS INC have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $41,441,148, expenses of $42,684,422 and total assets of $61,229,289 at year end.
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