Vermont Captive Insurance Association

Organization Overview

Vermont Captive Insurance Association is located in South Burlington, VT. The organization was established in 1987. As of 12/2023, Vermont Captive Insurance Association employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Vermont Captive Insurance Association 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 12/2023, Vermont Captive Insurance Association generated $2.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $1.9m during the year ending 12/2023. While expenses have increased by 2.7% per year over the past 9 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

THE VERMONT CAPTIVE INSURANCE ASSOCIATION (VCIA) EXISTS TO PROMOTE THE VERMONT CAPTIVE INSURANCE INDUSTRY. VCIA HELD THEIR 39TH ANNUAL CONFERENCE IN AUGUST, DRAWING JUST OVER 1,000 PARTICIPANTS FROM ALL OVER THE WORLD. REGIONAL MEETINGS AND SEMINARS ARE ALSO HELD IN U.S. CITIES TO EDUCATE PEOPLE ABOUT VERMONT'S CAPTIVE INSURANCE INDUSTRY.

Describe the Organization's Program Activity:

Part 3 - Line 4a

VCIA HELD ITS 39TH ANNUAL CONFERENCE FEATURING 33 SESSIONS AND FORUMS WHERE MEMBERS AND NON-MEMBERS NETWORK AND HAVE THE ABILITY TO EARN CPE/CLE CREDITS.


VCIA HELD THREE EDUCATIONAL WEBINARS, ONE TRADE MISSION ROAD SHOW, AND ONE REGIONAL ROAD SHOW. MEMBERS AND NON-MEMBERS ARE ABLE TO EARN CPE/CLE CREDIT FOR THE EDUCATIONAL WEBINARS. THE TRADE MISSIONS/ROAD SHOWS SERVE TO EDUCATE PEOPLE ABOUT VERMONT'S CAPTIVE INSURANCE INDUSTRY.


VCIA CONDUCTS LEGISLATIVE AND LOBBYING ACTIVITIES THOUGHOUT THE YEAR ON A STATE LEVEL. IN JANUARY, VCIA HELD THEIR ANNUAL LEGISLATIVE DAY IN MONTPELIER, VT. VCIA STAFF AND LEGISLATIVE MEMBERS GATHERED TO CONTINUE THE SUCCESSFUL WORKING RELATIONSHIP BETWEEN VCIA AND THE STATE'S ELECTED AND APPOINTED LEADERS. VCIA ALSO HIRES AN ATTORNEY IN WASHINGTON DC TO ATTEND NAIC MEETINGS ON BEHALF OF VCIA.


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Board, Officers & Key Employees

Name (title)Compensation
Kevin Mead
President
$195,333
Janice Valgoi
Dir, Membership & Sales
$133,020
Diane Leach
Dir, Edu & Prog Planning
$128,553
Margaret Companion
Dir, Finance
$128,184
A Tracy Hassett
Chair
$0
Jason Palmer
Vice Chair
$0

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
Fundraising events$0
Related organizations$0
Government grants $63,307
All other contributions, gifts, grants, and similar amounts not included above$1,250
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$64,557
Total Program Service Revenue$1,937,422
Investment income $28,576
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $98,020
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,131,604

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