The Risk Management Association Foundation is a private foundation based in Chicago, Illinois. It supports scholarships for undergraduate students interested in working in the financial industry after graduation and states that its mission includes attracting and developing future leaders in the financial-services industry’s risk management discipline.
Key facts about Risk Management Association Foundation
In short: Risk Management Association Foundation gave $237K across 72 grants in 2025 (avg $3K), top state Texas. Source: 2025 IRS Form 990-PF.
- EIN
- 47-3078149
- Latest 990 filing
- Form 990-PF, 2025
- Annual giving (2025)
- $236,500
- Grants made (2025)
- 72
- Average grant
- $3,285
- Median grant
- $1,500
- Total assets
- $7,403,724
- Primary geography
- Texas (41% of itemized 2025 grant dollars)
- Accepts unsolicited proposals
- No
- How to apply
- The Foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Full details ↓
Data from IRS Form 990-PF, 2025; updated September 2026. Application details from Grantable's research on the foundation's public materials; confirm on its website before applying.
Financial Overview
From 2025 IRS Form 990-PF · View filing
Total Assets
$7.4M
+0.4% YoY
Annual Giving
$237K
+148.9% YoY
Grant Count
72
-5.3% YoY
Avg Grant Size
$3K
+162.8% YoY
Under IRS private-foundation payout rules, Risk Management Association Foundation reported a distributable amount of $165K for 2025 — the minimum it must pay out in qualifying distributions.
How Risk Management Association Foundation gives
- Giving fell 35% from 2022 to 2025. Method
- In 2025 it paid out 356% of its IRS minimum distribution (the 5% rule). Method
From the foundation's IRS Form 990-PF filings. Methodology.
Mission & Focus Areas
The Foundation’s stated mission is to assist in attracting and developing future leaders in risk management for the financial-services industry, with a focus on diversity and inclusion. Its scholarship program is for undergraduates interested in working in the financial industry after graduation.
Scholarship recipients are selected on merit, considering demonstrated interest in banking, academic achievement, participation and leadership in community or school activities or related work experience, and career goals. Financial need is not considered. Recipients may reapply for scholarship continuation for up to two additional years if they meet renewal requirements and maintain RMA student membership.
Grantmaking
In filing year 2024, the Foundation reported 76 grants totaling $95,000. The grants ranged from $1,000 to $5,000, with a median of $1,000. The listed 2024 awards were scholarships to individuals. Examples include Carley Cook of Atlanta, Georgia ($5,000); Carlos Pimentel of El Paso, Texas ($5,000); Christian Holmes of Salt Lake City, Utah ($4,000); and Heather Darpel of Highland Heights, Kentucky ($2,500).
Review Cycle
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Geographic Focus
Where this funder awards grants
In filing year 2024, Texas accounted for 34% of grant dollars, followed by Utah (6%), Georgia (5%), Oklahoma (5%), and California (5%). These shares describe the locations of recipients in that year.
Grant Distribution by State
Share of 2025 grant dollars across all 72 itemized grants.
States
Cities
Giving Over Time
Total grant dollars and number of grants per year
From 2019 to 2025, annual grant giving ranged from $95K (2024) to $363K (2022). In 2025 it made 72 grants totaling $237K.
Grant Insights
How this funder distributes its grants
Top Recipients
Top 7 recipients in 2025
The largest 2025 recipient was Prairie View A&M University ($50K). Together the top 7 received $137K.
Organizations only. It also paid 65 individual scholarships ($100,000), which are not listed by name.
Grant Size Distribution
529 grants across all recorded years
The most common grant size was under $50K: 528 grants of 529 (100%).
Giving History
Grant recipients and amounts by year
| Recipient | Purpose | Amount |
|---|---|---|
| Prairie View A&M University Prairie View, TX | PV-RMA Fellows: Cross-Border Banking, Fraud | $50,000 |
| University of Tulsa Tulsa, OK | Comprehensive study of the current & future stablecoin ecosystem | $41,000 |
| Bryant University Smithfield, RI | Non-Linear Three-Country Multi-Factor Stochastic Term Structure Models | $20,000 |
| Livingstone College Salisbury, NC | Creating a research-ready campus: institutional capacity-building at livingstone college | $18,000 |
| MSU Denver Denver, CO | Comparison of bank performance ratios group by primary regulator | $5,000 |
| 44 individual scholarships Recipients not named | — | $79,000 |
| Rick (RJ) Kluck Whitewater, WI | Scholarships | $1,500 |
Financial History
Multi-year comparison from IRS filings
| Filing year | Grant total | Grant count |
|---|---|---|
| 2024 | $95,000 | 76 |
| 2023 | $151,000 | 113 |
| 2022 | $363,000 | 190 |
The Foundation’s filing type is Form 990-PF.
| Metric | 2025 | 2024 | 2023 |
|---|---|---|---|
| Total Assets | $7,403,724 | $7,375,035 | $6,598,591 |
| Revenue | $1,022,103 | $-348,292 | $175,127 |
| Expenses | $635,478 | $376,968 | $567,228 |
| Qualifying Distributions | $587,224 | $346,083 | $151,000 |
| Net Investment Income | $929,349 | $125,904 | $145,050 |
| Distributable Amount | $165,082 | $266,033 | $288,940 |
Data update history
When this profile's IRS filing data changed on Grantable
- Updated Form 990-PF for fiscal year 2019 (received by the IRS May 6, 2020)
- Updated Form 990-PF for fiscal year 2020 (received by the IRS March 22, 2021)
- Updated Form 990-PF for fiscal year 2021 (received by the IRS July 15, 2022)
- Updated Form 990-PF for fiscal year 2022 (received by the IRS July 17, 2023)
- Updated Form 990-PF for fiscal year 2023 (received by the IRS August 14, 2024)
- Updated Form 990-PF for fiscal year 2024 (received by the IRS August 18, 2025)
- Added Form 990-PF for fiscal year 2025 (received by the IRS June 25, 2026)
- IRS filings on file for fiscal years 2019–2024
Leadership & Key People
Leadership team and compensation from IRS filings
The 2024 filing lists Deborah L. Bianucci as president and CEO; Jodi Richard as chairman of the board; Todd M. Barnhart as vice chairman; Timothy S. Crane as immediate past chairman; Seth Waller as treasurer; and Charles G. Kim as secretary. It also lists Amanda Norton and Scott M. Peters as special advisors, and Gloria C. Banks and Stevie Baron as directors-at-large. Baron’s listing notes service through December 31, 2023.
Risk Management Association Foundation is led by Deborah L. Bianucci, President & CEO on every filing since 2024; none of the 21 officers listed in 2025 report compensation.
Officers on the 2025 filing
Deborah L. Bianucci
President & CEO
On filings since 2024
0.3 hrs/week
No compensation reported
Todd M. Barnhart
Chairman of the Board
Vice Chairman → Chairman of the Board, 2025
On filings since 2024
0.3 hrs/week
No compensation reported
Ameesh P. Vakharia
Director-At-Large
On filings since 2024
0.3 hrs/week
No compensation reported
Clarke Starnes
Director-At-Large
On filings since 2024
0.3 hrs/week
No compensation reported
Darlene Goins
Director-At-Large
On filings since 2024
0.3 hrs/week
No compensation reported
George F. Buchanan
Director-At-Large
On filings since 2024
0.3 hrs/week
No compensation reported
Gloria C. Banks
Director-At-Large
On filings since 2024
0.3 hrs/week
No compensation reported
Humberto M. Salomon
Director-At-Large
On filings since 2024
0.3 hrs/week
No compensation reported
John T. Jordan
Director-At-Large
On filings since 2024
0.3 hrs/week
No compensation reported
Kevin Slane
Director-At-Large
On filings since 2024
0.3 hrs/week
No compensation reported
Mark Brucker
Director-At-Large
On filings since 2024
0.3 hrs/week
No compensation reported
Mark R. Sheehan
Director-At-Large
On filings since 2024
0.3 hrs/week
No compensation reported
Mark W. Midkiff
Director-At-Large
On filings since 2024
0.3 hrs/week
No compensation reported
Monica L. Bowe
Director-At-Large
On filings since 2024
0.3 hrs/week
No compensation reported
Susan A. Lamonica
Director-At-Large
On filings since 2024
0.3 hrs/week
No compensation reported
Timothy S. Crane
Director-At-Large
Immediate Past Chairman → Director-At-Large, 2025
On filings since 2024
0.3 hrs/week
No compensation reported
Jodi L. Richard
Immediate Past Chairman
Director → Chairman of the Board, 2024
Chairman of the Board → Immediate Past Chairman, 2025
On filings since 2022
0.3 hrs/week
No compensation reported
Charles G. Kim
Secretary
On filings since 2024
0.3 hrs/week
No compensation reported
Larissa Chaikowsky
Treasurer
Director-At-Large → Treasurer, 2025
On filings since 2024
0.3 hrs/week
No compensation reported
Scott M. Peters
Special Advisor
On filings since 2024
0.3 hrs/week
No compensation reported
Seth M. Waller
Vice Chairman
Treasurer → Vice Chairman, 2025
On filings since 2024
0.3 hrs/week
No compensation reported
Former officers (25)
- Former: Amanda Norton (2024) — Special Advisor
- Former: Arijit Roy (2024) — Director-At-Large
- Former: Christopher J. McComish (2024) — Director-At-Large
- Former: Crystal Humphreys (2024) — Director-At-Large
- Former: Graeme Hepworth (2024) — Director-At-Large
- Former: Katrina M. Evans (2024) — Director-At-Large
- Former: Nima Ghamsari (2024) — Director-At-Large
- Former: Robert A. Berman (2024) — Director-At-Large
- Former: Sherry Graziano (2024) — Director-At-Large
- Former: Stevie Baron (2024) — Director-At-Large
- Former: Edward Demarco (2019–2023) — Secretary
- Former: Nancy J. Foster (2019–2023) — Director
- Former: Brian Long (2022–2023) — Treasurer
- Former: David R. Coxon (2019–2021) — Director
- Former: Edward Schreiber (2019–2021) — Director
- Former: Heidi Turley (2019–2021) — Treasurer
- Former: Jack Wixted (2019–2021) — Director
- Former: Kevin Oden (2019–2021) — Director
- Former: M. Robert Rose (2019–2021) — Director
- Former: Robert Messer (2019–2021) — Director
- Former: Helga Houston (2020–2021) — Director
- Former: Michael C. Ankrom Jr. (2020–2021) — Chair
- Former: Glenn L. Wilson (2019) — Director
- Former: Malcolm D. Griggs (2019) — Director
- Former: William F. Githens (2019) — Director
Data from IRS Form 990 filings, 2019–2025. "On filings since" is the earliest filing we hold that lists the person; hours are average hours per week as reported.
Contact
Mailing address: 222 W Adams Street Suite 2300, Chicago, IL 60606
Phone: (312) 553-4600
Website: https://www.rmahq.org/studentresources/foundation-landing
Frequently asked questions about Risk Management Association Foundation
How much does Risk Management Association Foundation give each year?
Risk Management Association Foundation gave $237K across 72 grants in 2025, according to its 2025 IRS Form 990-PF. In 2024 it gave $95K across 76 grants.
What is Risk Management Association Foundation's typical grant size?
Risk Management Association Foundation's median grant in 2025 was $1,500, and its average grant was $3,285, across 72 grants on its 2025 IRS Form 990-PF.
Where does Risk Management Association Foundation give grants?
Risk Management Association Foundation's top state is Texas, with 41% of the grant dollars itemized on its 2025 IRS Form 990-PF. The next largest states were Oklahoma (21%) and Rhode Island (9%).
Does Risk Management Association Foundation give general operating support?
Not in 2025: none of the 72 grants with a stated purpose on Risk Management Association Foundation's 2025 IRS Form 990-PF were described as general or operating support. Recurring purposes include "Scholarships" (67 grants).
Who are Risk Management Association Foundation's largest grantees?
Risk Management Association Foundation's largest 2025 grantees include Prairie View A&M University ($50,000), University of Tulsa ($41,000) and Bryant University ($20,000), according to its 2025 IRS Form 990-PF. It also paid 65 individual scholarships ($100,000), which are not listed by name. Together they received 47% of its itemized 2025 grant dollars.
How large is Risk Management Association Foundation?
Risk Management Association Foundation reported $7.4M in total assets on its 2025 IRS Form 990-PF. It paid out $587K in qualifying distributions that year, against a required minimum of $165K (roughly 5% of its investment assets).
What does Risk Management Association Foundation fund?
The Foundation’s stated mission is to assist in attracting and developing future leaders in risk management for the financial-services industry, with a focus on diversity and inclusion. Its scholarship program is for undergraduates interested in working in the financial industry after graduation. See mission & focus areas ↑
How do I apply for a grant from Risk Management Association Foundation?
The Foundation states that it makes contributions only to preselected charitable organizations and does not accept unsolicited requests for funds. Eligibility and process details are in the grantmaking section of this profile. See how to apply ↑
What is Risk Management Association Foundation's EIN?
Risk Management Association Foundation's EIN (Employer Identification Number) is 47-3078149. IRS Form 990 filing data is available on this page for 2019–2025.
Does Risk Management Association Foundation accept unsolicited proposals?
No, according to Grantable's research on the foundation's published guidelines. See how to apply ↑
Data last updated September 2026. Sourced from IRS Form 990-PF filings. Research dossier generated September 2026.
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