American Institute For Chartered Property Casualty Underwriters
- Assets
- $315.1m
- Revenue
- $90.6m
- Investments
- $0.0
- Employees
- 278
- Location
- Malvern, PA
- Founding
- 05/1943
- Data as of
- 12/2021
- EIN
- 23-1352012
Organization Overview
American Institute For Chartered Property Casualty Underwriters, operating under the name The Institutes, is located in Malvern, PA. The organization was established in 1943. 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 12/2021, Institutes employed 278 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Institutes 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, Institutes generated $90.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 6.2% each year. All expenses for the organization totaled $71.0m during the year ending 12/2021. While expenses have increased by 7.2% 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 2014, Institutes has awarded 21 individual grants totaling $295,251. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL PRODUCTS AND SERVICES REGARDING RISK MANAGEMENT AND INSURANCE.
Describe the Organization's Program Activity:
DEVELOPED, DELIVERED, AND PRODUCED EDUCATIONAL OFFERINGS INCLUDING COURSES, EXAMINATIONS, STUDY MATERIALS, WEBINARS CONTINUING EDUCATION, EXECUTIVE EDUCATION, AND OTHER KNOWLEDGE OFFERINGS RELATED TO RISK MANAGEMENT AND INSURANCE.
PROVIDED FINANCIAL AID, SCHOLARSHIPS, INFORMATION, EDUCATION, INTERNSHIPS, AND OTHER OPPORTUNITIES TO COLLEGE STUDENTS INTERESTED IN RISK MANAGEMENT AND INSURANCE.
PUBLISH RESEARCH REPORTS ON KEY ISSUES REGARDING RISK MANAGEMENT
SHARED RESOURCE SERVICES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Peter L Miller President/ceo | OfficerTrustee | 45 | $1,735,422 |
Sean Kevelighan CEO Triple I | 0 | $644,235 | |
Katherine Horowitz Chief Admin. Officer | Officer | 45 | $585,766 |
Ruben Carriedo SVP And Chief Customer Officer | Officer | 45 | $459,453 |
Robert Haracz SVP And Cio | Officer | 45 | $434,425 |
Matthew Kahn President Of Risk & Insurance | 0 | $409,460 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Cozen O'connor Legal Services | 12/30/21 | $1,438,537 |
United Parcel Service Delivery | 12/30/21 | $585,600 |
Xerox Corporation Printing Services | 12/30/21 | $1,220,879 |
Think Systems Inc Business Consulting | 12/30/21 | $416,808 |
Pricewaterhousecoopers Llp Prof Svcs - Actg/tax | 12/30/21 | $416,796 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,283,129 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $3,573,545 |
| All other contributions, gifts, grants, and similar amounts not included above | $73,507 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,930,181 |
| Total Program Service Revenue | $42,037,721 |
| Investment income | $4,163,133 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,515,437 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $90,590,145 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $233,535 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $6,393,599 |
| Compensation of current officers, directors, key employees. | $102,298 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $20,249,896 |
| Pension plan accruals and contributions | $2,504,288 |
| Other employee benefits | $2,584,391 |
| Payroll taxes | $1,761,109 |
| Fees for services: Management | $3,583,597 |
| Fees for services: Legal | $413,692 |
| Fees for services: Accounting | $228,163 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $629,028 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,178,445 |
| Office expenses | $58,359 |
| Information technology | $2,539,801 |
| Royalties | $0 |
| Occupancy | $2,372,495 |
| Travel | $282,013 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $4,857,216 |
| Interest | $280,477 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,736,531 |
| Insurance | $696,857 |
| All other expenses | $4,529,282 |
| Total functional expenses | $70,973,028 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,277,831 |
| Savings and temporary cash investments | $3,680,863 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $64,451,115 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $100,811 |
| Prepaid expenses and deferred charges | $2,017,123 |
| Net Land, buildings, and equipment | $48,305,338 |
| Investments—publicly traded securities | $162,708,552 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $28,104,841 |
| Other assets | $4,498,239 |
| Total assets | $315,144,713 |
| Accounts payable and accrued expenses | $8,308,302 |
| Grants payable | $0 |
| Deferred revenue | $4,434,661 |
| 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 | $261,140 |
| Other liabilities | $31,966,068 |
| Total liabilities | $44,970,171 |
| Net assets without donor restrictions | $270,019,489 |
| Net assets with donor restrictions | $155,053 |
| 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 | $315,144,713 |
Grants Awarded
Over the last fiscal year, American Institute For Chartered Property Casualty Underwriters has awarded $65,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Boone, NC PURPOSE: SCHOLARSHIP FUND | $25,000 |
Concord, NH PURPOSE: SCHOLARSHIP FUND | $20,000 |
Birmingham, AL PURPOSE: SCHOLARSHIP FUND | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that American Institute For Chartered Property Casualty Underwriters has recieved totaling $200,500.
| Awarding Organization | Amount |
|---|---|
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $200,000 |
Emc Insurance Foundation Des Moines, IA PURPOSE: FOR GENERAL SUPPORT OR FOR A CAPITAL FUND DRIVE OF THE RESPECTIVE ORGANIZATION | $500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Berks County School Districts Health Tr Reading, PA | $37,307,686 | $92,475,879 |
New Jersey Property Liability Basking Ridge, NJ | $270,074,908 | $113,404,286 |
Ads Alliance Data Systems Inc Employee Benefits Trust Columbus, OH | $17,341,004 | $79,868,187 |
Iuoe Local 30 Benefits Fund Whitestone, NY | $137,370,493 | $75,805,086 |
American Institute For Chartered Property Casualty Underwriters Malvern, PA | $315,144,713 | $90,590,145 |
Northwestern Region Employee Norebt Erie, PA | $17,910,540 | $63,223,264 |
United Church Insurance Association Cleveland, OH | $16,856,548 | $69,122,452 |
Western And Southern Life Insurance Company Veba Trust Cincinnati, OH | $9,770,641 | $57,519,736 |
Bna Cash Basis Veba Trust Brooklyn, NY | $0 | $57,496,830 |
Nysa Ila Vacation & Holiday Fund Jersey City, NJ | $23,216,286 | $51,819,514 |
International Brotherhood Of Tmstrs Chauffers Wrhsmn & Helpers Of Amer Mountainside, NJ | $24,791,012 | $45,427,748 |
Golub Corporation Employees Benefit Trust Schenectady, NY | $0 | $47,368,126 |