Insurance Industry Charitable Foundation Inc
- Assets
- $4.5m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 12
- Location
- Los Angeles, CA
- Founding
- 08/2004
- Data as of
- 12/2021
- EIN
- 20-1240972
Organization Overview
Insurance Industry Charitable Foundation Inc is located in Los Angeles, CA. The organization was established in 2004. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2021, Insurance Industry Charitable Foundation Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Insurance Industry Charitable Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Insurance Industry Charitable Foundation Inc generated $6.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.6% each year. All expenses for the organization totaled $5.5m during the year ending 12/2021. While expenses have increased by 2.2% 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.
Since 2015, Insurance Industry Charitable Foundation Inc has awarded 1,019 individual grants totaling $20,940,173. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE INSURANCE INDUSTRY CHARITABLE FOUNDATION SEEKS TO HELP COMMUNITIES AND ENRICH LIVES BY COMBINING THE COLLECTIVE STRENGTHS OF THE INDUSTRY TO PROVIDE GRANTS, VOLUNTEER SERVICE, AND LEADERSHIP.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE AND GENERATE SUPPORT FOR DESIGNATED CHARITABLE ORGANIZATIONS THAT HELP TO MEET CRITICAL COMMUNITY NEEDS IN THE FOCUS AREAS OF: CHILD ABUSE PREVENTION, EDUCATION & AWARENESS; DISASTER PREPAREDNESS & RESPONSE; EDUCATION & LITERACY PROGRAMS; AND HEALTH, SAFETY & HUMAN SERVICES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Ross CEO | Officer | 40 | $450,000 |
Elizabeth Myatt Executive Di | Officer | 40 | $283,003 |
Alisa Breese VP Communica | Officer | 40 | $152,600 |
Anna Panoian Director Of | Officer | 40 | $152,600 |
Sarah Conway Executive Di | 40 | $150,000 | |
Melissa Duncan Executive Di | 40 | $146,266 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,235,661 |
| Fundraising events | $3,702,479 |
| Related organizations | $0 |
| Government grants | $401,724 |
| All other contributions, gifts, grants, and similar amounts not included above | $562,759 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,902,623 |
| Total Program Service Revenue | $0 |
| Investment income | $38,633 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $99,108 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,044,634 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,528,230 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $90,934 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,159,175 |
| Compensation of current officers, directors, key employees. | $162,284 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $936,198 |
| Pension plan accruals and contributions | $15,135 |
| Other employee benefits | $110,219 |
| Payroll taxes | $103,246 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $22,252 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $199,203 |
| Advertising and promotion | $0 |
| Office expenses | $154,261 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $26,133 |
| Travel | $10,009 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,626 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $21,471 |
| All other expenses | $0 |
| Total functional expenses | $5,483,262 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,659,507 |
| Savings and temporary cash investments | $915,571 |
| Pledges and grants receivable | $154,968 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $1,337 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $291,257 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,428,142 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,450,782 |
| Accounts payable and accrued expenses | $441,456 |
| Grants payable | $0 |
| Deferred revenue | $332,714 |
| 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 | $149,999 |
| Other liabilities | $0 |
| Total liabilities | $924,169 |
| Net assets without donor restrictions | $3,376,613 |
| Net assets with donor restrictions | $150,000 |
| 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 | $4,450,782 |
Grants Awarded
Over the last fiscal year, Insurance Industry Charitable Foundation Inc has awarded $2,227,629 in support to 130 organizations.
| Grant Recipient | Amount |
|---|---|
Highlands, NJ PURPOSE: YOUTH/EDUCATION | $50,000 |
New York, NY PURPOSE: HEALTH/SAFETY | $50,000 |
North Salem, NY PURPOSE: HEALTH/SAFETY | $50,000 |
New York, NY PURPOSE: YOUTH/EDUCATION | $50,000 |
Fairfield, CT PURPOSE: YOUTH/EDUCATION | $50,000 |
Clinton, NJ PURPOSE: HEALTH/SAFETY | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Insurance Industry Charitable Foundation Inc has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
The Andover Companies Charitable Foundation Wilmington, DE PURPOSE: GENERAL & UNRESTRICTED | $5,000 |
Endowment Analysis
| Beg. Balance | $1,086,220 |
| Earnings | -$52,965 |
| Admin Expense | $10,865 |
| Net Contributions | $23,517 |
| Grants | $50,000 |
| Ending Balance | $995,907 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Groundswell Fund San Francisco, CA | $42,239,063 | $24,343,616 |
Americas Best Local Charities San Rafael, CA | $3,431,052 | $16,765,664 |
Bill Hannon Foundation Los Angeles, CA | $17,238,236 | $4,285,811 |
It Is Written Inc Riverside, CA | $12,378,597 | $15,533,924 |
Friends Of Family Health Center La Habra, CA | $48,269,218 | $21,982,956 |
Family Assistance Ministries San Clemente, CA | $4,435,253 | $12,485,569 |
Hidaya Foundation Santa Clara, CA | $4,651,500 | $12,437,401 |
Hyundai Hope On Wheels Fountain Valley, CA | $12,616,829 | $14,561,310 |
Philanthropic Impact Fund Beverly Hills, CA | $0 | $3,313,525 |
Providence Little Company Of Mary Foundation Torrance, CA | $121,035,875 | $18,031,300 |
Cambodian Childrens Fund Santa Monica, CA | $27,120,483 | $15,367,074 |
Xavier College Preparatory High School Palm Desert, CA | $46,603,211 | $9,301,462 |