Ohio Insurance Institute
- Assets
- $916.2k
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 9
- Location
- Columbus, OH
- Founding
- 03/1989
- Data as of
- 12/2022
- EIN
- 31-4373065
Organization Overview
Ohio Insurance Institute is located in Columbus, OH. The organization was established in 1989. According to its NTEE Classification (Y01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2022, Ohio Insurance Institute employed 9 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Ohio Insurance Institute 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, Ohio Insurance Institute generated $1.8m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.8% each year. All expenses for the organization totaled $1.7m during the year ending 12/2022. While expenses have increased by 0.8% per year over the past 8 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
REPRESENTATION OF THE OHIO PROPERTY & CASUALTY INSURANCE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PUBLIC INFORMATION - TO PROMOTE AND TO COMMUNICATE TO THE GENERAL PUBLIC A BETTER UNDERSTANDING OF INSURANCE.
PUBLIC INFORMATION; RESEARCH & EDUCATION; GOVERNMENT & INDUSTRY RELATIONS.
RESEARCH AND EDUCATION - TO OBTAIN NEW INFORMATION ON ALL TYPES OF INSURANCE.
GOVERNMENT AND INDUSTRY RELATIONS - TO COMPILE INFORMATION FOR VARIOUS GOVERNMENT AGENCIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Ammendola Chairman | OfficerTrustee | 2 | $0 |
Mark Russell Secretary/tr | OfficerTrustee | 2 | $0 |
Terry Mcclaskey Vice Chairma | OfficerTrustee | 2 | $0 |
Kevin Day Trustee | Trustee | 1 | $0 |
Josh Thompson Trustee | Trustee | 1 | $0 |
Mark Howard Trustee | Trustee | 1 | $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 | $1,822,575 |
| Investment income | $1,521 |
| 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 | $1,824,096 |
| 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. | $484,558 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $396,551 |
| Pension plan accruals and contributions | $78,956 |
| Other employee benefits | $98,795 |
| Payroll taxes | $61,562 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $143,942 |
| Fees for services: Accounting | $62,347 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $83,942 |
| Office expenses | $30,360 |
| Information technology | $37,121 |
| Royalties | $0 |
| Occupancy | $74,940 |
| Travel | $39,519 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $20,011 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,474 |
| Insurance | $9,177 |
| All other expenses | $296 |
| Total functional expenses | $1,676,843 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $232,559 |
| Savings and temporary cash investments | $670,551 |
| 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 | $13,066 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $916,176 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $66,541 |
| 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 | $58,135 |
| Total liabilities | $124,676 |
| Net assets without donor restrictions | $791,500 |
| 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 | $916,176 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Michigan Basic Property Insurance Association Farmington Hills, MI | $16,573,320 | $12,632,616 |
Kentucky Insurance Guaranty Association Louisville, KY | $54,661,741 | $4,610,383 |
Insurance Guaranty Associations Dublin, OH | $20,866,631 | $1,166,678 |
Service Employees International Union Lansing, MI | $3,014,829 | $2,682,935 |
Insurance Agents And Brokers Of Pennsylvania Inc Mechanicsburg, PA | $6,042,204 | $2,170,730 |
Ohio Insurance Institute Columbus, OH | $916,176 | $1,824,096 |
Kentucky Automobile Insurance Plan Louisville, KY | $1,190,068 | $347,004 |
Naifa Michigan Dewitt, MI | $54,650 | $125,470 |
Upper Darby Corporation For Community And Economic Development Drexel Hill, PA | $848 | $671 |
Lackawaxen Honesdale Shippers Assoc Iation Inc Honesdale, PA | $234,052 | $0 |
Grandsavers Are Lifesavers Mainesburg, PA | $0 | $17,401 |