Insured Retirement Institute Inc
- Assets
- $7.5m
- Revenue
- $6.9m
- Investments
- $0.0
- Employees
- 22
- Location
- Washington, DC
- Founding
- 06/1992
- Data as of
- 12/2021
- EIN
- 06-1328907
Organization Overview
Insured Retirement Institute Inc is located in Washington, DC. The organization was established in 1992. According to its NTEE Classification (Y03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Insured Retirement Institute Inc employed 22 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Insured Retirement Institute Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 12/2021, Insured Retirement Institute Inc generated $6.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.1% each year. All expenses for the organization totaled $6.6m during the year ending 12/2021. While expenses have increased by 0.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE UNDERSTANDING OF AND ADVOCATE ON ISSUES AFFECTING INSURED RETIREMENT STRATEGIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONFERENCES:CONFERENCES BRING TOGETHER MEMBERS AND OTHERS INTERESTED IN ANNUITY AND VARIABLE LIFE PRODUCTS TO EDUCATE THEM ON CURRENT ISSUES, PRODUCT FEATURES AND BENEFITS.
MEMBER SERVICES:MEMBERSHIP SERVICES PROVIDES EDUCATION AND INFORMATION TO ASSOCIATION MEMBERS.
PUBLICATIONS: THE ASSOCIATION PUBLISHES AND MAKES AVAILABLE TO MEMBERS A NUMBER OF BROCHURES AND BOOKLETS FOR USE IN INFORMING AND EDUCATING CONSUMERS ABOUT ANNUITY AND VARIABLE LIFE PRODUCTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Wayne Chopus President & CEO | Officer | 40 | $893,611 |
Jason Berkowitz Chief Legal & Regulatory Affairs Officer | Officer | 40 | $331,321 |
Paul Richman Chief Government & Political Affairs Officer | Officer | 40 | $296,946 |
Christina Brady Chief Operating Officer | Officer | 40 | $260,875 |
James Quinn Chief Technology & Innovation Officer | 40 | $211,482 | |
Jane Forsythe Chief Membership Officer (former) | 40 | $202,575 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Forbes Tate Partners Llc Lobbying Services | 12/30/21 | $180,000 |
Cliftonlarsonallen Llp Accounting Services | 12/30/21 | $199,939 |
Yoko Consulting Website Development And Hosting | 12/30/21 | $158,200 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $6,802,393 |
| Investment income | $75 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $67,269 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,870,255 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,895,150 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,918,047 |
| Pension plan accruals and contributions | $77,587 |
| Other employee benefits | $146,471 |
| Payroll taxes | $223,423 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $29,043 |
| Fees for services: Accounting | $217,518 |
| Fees for services: Lobbying | $202,250 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $447,328 |
| Advertising and promotion | $27,325 |
| Office expenses | $149,728 |
| Information technology | $399,057 |
| Royalties | $0 |
| Occupancy | $77,151 |
| Travel | $26,939 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $382,868 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $325,284 |
| Insurance | $29,637 |
| All other expenses | $0 |
| Total functional expenses | $6,613,102 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,223,501 |
| Savings and temporary cash investments | $753,434 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $262,945 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $171,493 |
| Net Land, buildings, and equipment | $184,997 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,870,201 |
| Total assets | $7,466,571 |
| Accounts payable and accrued expenses | $272,291 |
| Grants payable | $0 |
| Deferred revenue | $3,957,500 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $2,177,720 |
| Total liabilities | $6,407,511 |
| Net assets without donor restrictions | $1,059,060 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,466,571 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Council Of Insurance Agents & Brokers Washington, DC | $31,053,898 | $21,421,690 |
Insured Retirement Institute Inc Washington, DC | $7,466,571 | $6,870,255 |
Virginia Life Accident & Sickness Insurance Guaranty Association Henrico, VA | $10,714,403 | $9,945,534 |
National Association Of Professional Insurance Agents Alexandria, VA | $8,921,886 | $2,394,030 |
Electronic Payments Coalition Inc Washington, DC | $385,901 | $2,551,420 |
National Association Of Credit Management Inc Columbia, MD | $9,729,944 | $2,084,765 |
Independent Insurance Agents Of Virginia Inc Richmond, VA | $2,800,771 | $1,432,441 |
Association Of Insurance Compliance Professionals Reston, VA | $1,396,557 | $539,000 |
American Insurance Marketing And Sales Society Richmond, VA | $438,192 | $339,133 |
State Law Resources Inc Washington, DC | $455,654 | $267,189 |
Womens White Collar Defense Association Washington, DC | $1,482,111 | $662,003 |
The National Association Of Assistant United States Attorneys Washington, DC | $30,351 | $0 |