Ohio Insurance Association Inc
- Assets
- $17.6m
- Revenue
- $3.0m
- Investments
- $2.1m
- Employees
- 0
- Location
- Columbus, OH
- Founding
- 02/1946
- Data as of
- 12/2021
- EIN
- 31-4406219
Organization Overview
Ohio Insurance Association Inc is located in Columbus, OH. The organization was established in 1946. 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. Ohio Insurance Association 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 12/2021, Ohio Insurance Association Inc generated $3.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.1%) each year. All expenses for the organization totaled $2.1m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (1.8%) per year over the past 7 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE, PROTECT AND PROGRESS OUR MEMBERS THROUGH ADVOCACY, PROFESSIONAL DEVELOPMENT PROGRAMS, DATA, CONSULTING SERVICES, AND BEST PRACTICES AS WELL AS EXCHANGE INFORMATION THROUGH BENCHMARKING AND OTHER MISCELLANEOUS RESOURCES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
WE PROMOTED THE PROFESSIONAL ADVICE OF OUR 1,053 AGENCY MEMBERS AND PROTECTED THE INDEPENDENT INSURANCE AGENCY CHANNEL FOR THE 82 COMPANY MEMBERS AND PARTNERS. WE WERE ABLE TO RECRUIT 26 NEW MEMBERS AND PROGRESS THE INDEPENDENT AGENCY CHANNEL FOR THEM INTO THE FUTURE.
WE WERE ABLE TO PROMOTE, PROTECT, AND PROGRESS THE PROFESSIONAL ADVICE OF 1,828 INDEPENDENT AGENTS AND PARTNERS WITH PROFESSIONAL DEVELOPMENT PROGRAMS.
PROTECT ALL INDEPENDENT AGENTS AND THE IA CHANNEL THROUGH ADVOCACY EFFORTS AND EXCHANGE OF INFORMATION AND EDUCATION THROUGH PUBLICATION OF OVER 7,500 INDEPENDENT AGENTS AND IA CHANNEL CHAMPIONS.
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 |
|---|---|---|---|
Jeffrey Smith Ceo/secretary | OfficerTrustee | 40 | $0 |
Stephen M Brown Jr Chairman | OfficerTrustee | 1 | $0 |
Brent Phelan CIC CPCU Crmcsrm Vice Chairman/treasurer | OfficerTrustee | 1 | $0 |
Katherine G Watson CIC Iiaba National Director | OfficerTrustee | 1 | $0 |
Judy Sivy CIC Cisr Cwcc Pris Chief Revenue Officer (exit 11/21) | Officer | 40 | $0 |
Andrew Stephey CIC CRM Lutcf Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Oia Service Corporation Management Services | 12/30/21 | $1,124,272 |
Independent Insurance Agents & Brokers O National Dues | 12/30/21 | $310,065 |
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 | $1,830,670 |
| Investment income | $396,963 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $165,301 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $455,819 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,011,225 |
| 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. | $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 | $9,118 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $24,009 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $78,337 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $33,777 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $5,670 |
| 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 | $1,427,518 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $22,036 |
| Total functional expenses | $2,148,888 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $771,280 |
| Savings and temporary cash investments | $44,514 |
| 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 | $475,052 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $59,371 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $14,119,942 |
| Investments—other securities | $2,148,460 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $17,618,619 |
| Accounts payable and accrued expenses | $25,197 |
| Grants payable | $0 |
| Deferred revenue | $796,925 |
| 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 | $822,122 |
| Net assets without donor restrictions | $16,796,497 |
| 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 | $17,618,619 |
Endowment Analysis
| Beg. Balance | $74,838 |
| Ending Balance | $74,838 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Southern Painters Welfare Fund Pittsburgh, PA | $17,172,930 | $23,602,516 |
Mutual Beneficial Association Inc Berwyn, PA | $132,759,628 | $20,036,739 |
Cleveland Automobile Dealers Association Group Insurance Plan Brecksville, OH | $4,881,741 | $19,552,991 |
Tri-County Building Trades Welfare Fund Ona, WV | $25,786,876 | $22,983,725 |
Ua Local 190 Health And Welfare Plan And Tr Bingham Farms, MI | $31,731,480 | $19,592,093 |
Ohio League Trust For Employee Benefits Columbus, OH | $19,645,020 | $20,892,498 |
Iue-Cwa Gm Bankruptcy Claim Tr Beavercreek, OH | $165,232,708 | $19,898,043 |
Stewart Employee Benefit Trust York, PA | $728,219 | $17,071,502 |
Redners Voluntary Employees Benefit Plan And Trust Reading, PA | $695,082 | $16,941,479 |
Mrm Property And Liability Tr Inc Sewickley, PA | $33,998,884 | $14,896,339 |
Giorgio Health & Welfare Plan Temple, PA | $32,283 | $14,373,210 |
Roofers Local 149 Security Benefit Trust Fund Troy, MI | $18,107,523 | $12,731,786 |