Iap Worldwide Services Voluntary Employee Beneficiary Association
- Assets
- $375.5k
- Revenue
- $11.7m
- Investments
- $0.0
- Employees
- 0
- Location
- Cape Canaveral, FL
- Founding
- 07/2010
- Data as of
- 12/2022
- EIN
- 27-3819946
Organization Overview
Iap Worldwide Services Voluntary Employee Beneficiary Association is located in Cape Canaveral, FL. The organization was established in 2010. According to its NTEE Classification (T03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Iap Worldwide Services Voluntary Employee Beneficiary Association is a 501(c)(9) and as such, is described as a "Voluntary Employees Beneficiary Association" by the IRS.
For the year ending 12/2022, Iap Worldwide Services Voluntary Employee Beneficiary Association generated $11.7m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $11.8m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.7%) 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 WELFARE BENEFITS FOR ELIGIBLE EMPLOYEES OF THE COMPANY AND THEIR ELIGIBLE DEPENDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FOR THE PAYMENT OF MEDICAL, DENTAL, FULLY-INSURED VISION, SHORT-TERM DISABILITY, LONG-TERM DISABILITY, LIFE AND ACCIDENTAL DEATH AND DISMEMBERMENT BENEFITS TO CERTAIN EMPLOYEES OF IAP WORLDWIDE SERVICES, INC. UNDER THE PROVISIONS OF A GROUP INSURANCE POLICY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Total Related Party Comp For Below Trustees | Officer | 0 | $0 |
Robert Hargis Board Member | Trustee | 1 | $0 |
Laurie Klem Board Member | Trustee | 1 | $0 |
Brendon Dewitt Board Member | Trustee | 1 | $0 |
Tanya Miller Secretary | Officer | 1 | $0 |
Information Made Available To Irs Upon Its Request | Officer | 0 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Reliastar Life Insurance Stoploss | 12/30/22 | $468,598 |
Usi Insurance Services Usi Ins Svc | 12/30/22 | $159,132 |
Blue Cross Blue Shield Aso Fees | 12/30/22 | $129,633 |
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 | $11,722,372 |
| Investment income | $1,828 |
| 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 | $11,724,200 |
| 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 | $10,964,145 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $853,769 |
| Total functional expenses | $11,817,914 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $375,230 |
| 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 | $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 | $290 |
| Total assets | $375,520 |
| Accounts payable and accrued expenses | $27,048 |
| 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 | $27,048 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $348,472 |
| 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 | $375,520 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iap Worldwide Services Voluntary Employee Beneficiary Association Cape Canaveral, FL | $375,520 | $11,724,200 |
Diocesan Council Of Orlando Apopka, FL | $4,255,835 | $7,601,936 |
Sapelo Foundation Inc Savannah, GA | $34,926,097 | $1,007,811 |
Alabama Assn Of Retired Senior Vol Program Directors Incorporated Birmingham, AL | $88,954 | $581,800 |
Florida Nonprofit Alliance Inc Jacksonville, FL | $282,309 | $351,248 |
Association Of Fundraising Professionals Lagrange, GA | $781,908 | $222,880 |
Seminole Region Charity Golf Tournament Incorporated Delray Beach, FL | $268,961 | $213,383 |
Society Of The Debutante Charity Cotillion Inc Pensacola, FL | $106,001 | $0 |
Tallahassee Professionals Association Inc Tallahassee, FL | $42,592 | $0 |