Insurance Federation Of Pennsylvania Inc
- Assets
- $3.5m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 6
- Location
- Harrisburg, PA
- Founding
- 08/1937
- Data as of
- 04/2023
- EIN
- 23-0724005
Organization Overview
Insurance Federation Of Pennsylvania Inc is located in Harrisburg, PA. The organization was established in 1937. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 04/2023, Insurance Federation Of Pennsylvania Inc employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Insurance Federation Of Pennsylvania 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 04/2023, Insurance Federation Of Pennsylvania Inc generated $1.9m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $2.0m during the year ending 04/2023. As we would expect to see with falling revenues, expenses have declined by (0.1%) per year over the past 6 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
MONITOR ALL LEGISLATION, REGULATORY AND JUDICIAL MATTERS AFFECTING THE PA INSURANCE INDUSTRY; REPORT THOSE ISSUES TO MEMBER COMPANIES AND CARRY OUT RESPONSES TO THOSE ISSUES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PA INSURANCE INDUSTRY TRADE ASSOCIATION: MONITORED LEGISLATION, REGULATORY, AND JUDICIAL MATTERS. REPORTED THOSE ISSUES TO MEMBER COMPANIES AND CARRIED OUT RESPONSES TO THOSE ISSUES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Samuel Marshall Former President | Officer | 40 | $508,415 |
Jonathan Greer Current President | Officer | 40 | $352,103 |
Noah Karn Vice President | Officer | 40 | $144,087 |
Marybeth Dob Treasurer | Officer | 40 | $200,691 |
Board Of Directors (schedule Attached) | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,827,892 |
| 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 | $1,827,892 |
| Total Program Service Revenue | $0 |
| Investment income | $92,874 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $1,920,766 |
| 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. | $1,205,296 |
| Compensation of current officers, directors, key employees. | $241,059 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $87,305 |
| Pension plan accruals and contributions | $214,198 |
| Other employee benefits | $81,292 |
| Payroll taxes | $91,041 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $49,284 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $76,033 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $91,576 |
| Travel | $21,965 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,936 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $11,851 |
| All other expenses | $0 |
| Total functional expenses | $1,967,777 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $90,546 |
| Savings and temporary cash investments | $332,813 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $25,468 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,020,976 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,469,803 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $73,293 |
| Total liabilities | $73,293 |
| Net assets without donor restrictions | $0 |
| 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 | $3,396,510 |
| Total liabilities and net assets/fund balances | $3,469,803 |