Legionaire Insurance Trust
- Assets
- $4.2m
- Revenue
- $2.8m
- Investments
- $0.0
- Employees
- 0
- Location
- Carpinteria, CA
- Founding
- 12/1973
- Data as of
- 12/2022
- EIN
- 23-7336165
Organization Overview
Legionaire Insurance Trust is located in Carpinteria, CA. The organization was established in 1973. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, 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. Legionaire Insurance Trust is a 501(c)(19) and as such, is described as a "Post or Organization of Past or Present Members of the Armed Forces" by the IRS.
For the year ending 12/2022, Legionaire Insurance Trust generated $2.8m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (4.4%) each year. All expenses for the organization totaled $3.8m during the year ending 12/2022. 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
THE LEGIONNAIRE INSURANCE TRUST'S PRIMARY EXEMPT PURPOSE IS TO OFFER PARTICIPATING AMERICAN LEGION MEMBERS THE OPPORTUNITY TO OBTAIN HIGH-QUALITY DEPARTMENT ENDORSED INSURANCE PRODUCTS AT RATES THAT REFLECT THE MASSIVE GROUP BUYING POWER OF THE LEGION DEPARTMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALLOCATION TO DEPARTMENTS OF THE AMERICAN LEGION
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Braxton Bridgers Chairman | Trustee | 2 | $0 |
Hugh Dagley Vice Chairman | Trustee | 2 | $0 |
Ken Queen Director | Trustee | 2 | $0 |
Robert Kraemer Director | Trustee | 2 | $0 |
Bob Renner Director | Trustee | 2 | $0 |
Pat Smith Director | Trustee | 2 | $0 |
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 | $2,823,509 |
| Investment income | $14,427 |
| 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 | $2,837,936 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,620,422 |
| 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. | $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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| Information technology | $0 |
| 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 | $180,030 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $32,123 |
| All other expenses | $0 |
| Total functional expenses | $3,840,479 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,077,034 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,731,409 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $440,714 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,249,157 |
| 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 | $0 |
| Total liabilities | $0 |
| 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 | $4,249,157 |
| Total liabilities and net assets/fund balances | $4,249,157 |
Grants Awarded
Over the last fiscal year, Legionaire Insurance Trust has awarded $1,890,634 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
AMERICAN LEGION BY STATE DEPARTMENT PURPOSE: TO FUND STATE DEPARTMENTS OF THE AMERICAN LEGION. | $1,890,634 |