Association Of Insurance Compliance Professionals
- Assets
- $1.1m
- Revenue
- $760.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Reston, VA
- Founding
- 11/1988
- Data as of
- 12/2022
- EIN
- 22-2912483
Organization Overview
Association Of Insurance Compliance Professionals is located in Reston, VA. The organization was established in 1988. 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. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Association Of Insurance Compliance Professionals 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 12/2022, Association Of Insurance Compliance Professionals generated $760.7k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (3.0%) each year. All expenses for the organization totaled $882.0k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (1.3%) per year over the past 8 years. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE EDUCATION AND SPONSOR, CONDUCT, OR PARTICIPATE IN RESEARCH AND EDUCATIONAL ACTIVITIES FOR THE BENEFIT OF THE INSURANCE COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL MEETING - TO EDUCATE MEMBERS ABOUT INSURANCE INDUSTRY ISSUES AND TO PROVIDE FOR THE EXCHANGE OF INFORMATION AND IDEAS.
PUBLICATIONS - TO EDUCATE MEMBERS AND PROVIDE FOR THE EXCHANGE OF INFORMATION AND IDEAS.
CHAPTER NETWORKING ACTIVITIES - TO ALLOW MEMBERS WHO CANNOT ATTEND THE ANNUAL CONFERENCE TO TAKE ADVANTAGE OF LOCAL NETWORKING AND TOPICAL EDUCATIONAL EVENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nancy Campbell President | OfficerTrustee | 1 | $0 |
Stacy Koron Vice President | OfficerTrustee | 1 | $0 |
Rona Finkelstein Secretary | OfficerTrustee | 1 | $0 |
Brianne Dahl Treasurer | OfficerTrustee | 1 | $0 |
Karen Pollitt Past President | OfficerTrustee | 1 | $0 |
Michael Hartman Regional Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Sheraton Grand Seattle Annual Conference | 12/30/17 | $413,558 |
Drohan Management Group Inc Financial And Management Services | 12/30/17 | $168,847 |
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 | $730,109 |
| Investment income | $36,966 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$14,676 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $760,674 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $8,500 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $184,658 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $9,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,214 |
| Fees for services: Other | $1,342 |
| Advertising and promotion | $0 |
| Office expenses | $49,483 |
| Information technology | $15,007 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $583,591 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,082 |
| Insurance | $10,923 |
| All other expenses | $2,626 |
| Total functional expenses | $882,026 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $166,198 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $27,560 |
| 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 | $31,975 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $830,423 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $41,802 |
| Other assets | $0 |
| Total assets | $1,097,958 |
| Accounts payable and accrued expenses | $53,449 |
| Grants payable | $0 |
| Deferred revenue | $120,869 |
| 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 | $0 |
| Total liabilities | $174,318 |
| Net assets without donor restrictions | $923,640 |
| 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 | $1,097,958 |