National Association Of Mutual Insurance Companies
- Assets
- $22.0m
- Revenue
- $20.7m
- Investments
- $4.7m
- Employees
- 117
- Location
- Indianapolis, IN
- Founding
- 04/1943
- Data as of
- 12/2022
- EIN
- 35-0539460
Organization Overview
National Association Of Mutual Insurance Companies is located in Indianapolis, IN. The organization was established in 1943. According to its NTEE Classification (Y23) the organization is classified as: Mutual Insurance Companies & Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2022, National Association Of Mutual Insurance Companies employed 117 individuals. This organization is the central organization for a national or regional group of organizations. National Association Of Mutual Insurance Companies 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, National Association Of Mutual Insurance Companies generated $20.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 5.4% each year. All expenses for the organization totaled $19.3m during the year ending 12/2022. While expenses have increased by 5.1% 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
NAMIC IS A PROPERTY-CASUALTY INSURANCE TRADE ASSSOCIATION PROVIDING LEADERSHIP IN ADVOCACY, EDUCATION, AND ASSOCIATION SERVICES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GOVERNMENT AFFAIRS/ADVOCACY - NAMIC LEADS MEMBER EFFORTS IN THIS AREA THROUGH ITS FEDERAL, STATE AND INTERNATIONAL GOVERNMENT AND PUBLIC AFFAIRS ACTIVITY (ISSUE RESEARCH/MANAGEMENT, ADVOCACY, LOBBYING); CONGRESSIONAL CONTACT AND POLITICAL ACTION PROGRAMS, JOINT INDUSTRY OR INDIVIDUAL ADVOCACY PROJECT EFFORTS, ONGOING COMMUNICATION AND EDUCATION ON RELEVANT PUBLIC POLICY ISSUES AND RELATED ENTITY SUPPORT AND OVERSIGHT.
EDUCATION AND CERTIFICATION - NAMIC DEVELOPS, ORGANIZES AND CONDUCTS IN- PERSON AND VIRTUAL INDUSTRY/MEMBER EDUCATION AND EVENT PROGRAMS ADDRESSING INSURANCE COMPANY OPERATIONS (UNDERWRITING, CLAIMS, MARKETING), GOVERNANCE, AND GENERAL/EXECUTIVE MANAGEMENT INVOLVING MORE THAN 7,500 PARTICIPANTS ANNUALLY. NAMIC ALSO PROVIDES PROGRAMMING AND ADMINISTRATION OF TWO CERTIFICATION PROGRAMS FOR MEMBER COMPANY BOARDS OF DIRECTORS AND COMPANY MANAGERS INVOLVING MORE THAN 1,200 INDIVIDUALS SEEKING OR HOLDING CERTIFICATIONS. NAMIC PLANS AND MANAGES AN ANNUAL CONVENTION ATTENDED BY MORE THAN 1,500 BUSINESS ATTENDEES AND EXHIBITORS.
INSURANCE SUPPORT SERVICES - NAMIC OVERSEES THE DEVELOPMENT AND PRODUCTION OF HIGH VALUE PRODUCTS AND SERVICES TO ITS MEMBERS AND OTHER INSURANCE ENTITIES, INCLUDING PROFESSIONAL LIABILITY INSURANCE (D&O, ICPL, AND FIDELITY); MANAGEMENT SERVICES; LEGISLATION AND COMPLIANCE TRACKING SERVICES; BENCHMARKING; AND BENEFIT PROGRAMS FOR MEMBER COMPANY EMPLOYEES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Charles M Chamness Former Pres | 40 | $1,542,110 | |
Neil Alldredge President & | Officer | 40 | $660,632 |
Gregg A Dykstra COO & Clo | Officer | 40 | $223,758 |
Jimi Grande SVP - Federa | Officer | 40 | $506,423 |
Erin Collins SVP - State | 40 | $325,255 | |
Sarah Schnettler SVP - Member | 40 | $304,762 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Ember Llc Event Planning | 12/30/22 | $653,622 |
Freeman Exhibit Service | 12/30/22 | $121,080 |
Federal Hall Policy Advisors Advocacy | 12/30/22 | $118,750 |
Crossroads Strategies Llc Legal Support | 12/30/22 | $110,000 |
Effective Data Base Management Consulting | 12/30/22 | $109,250 |
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 | $20,596,811 |
| Investment income | $101,194 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $627 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $20,704,238 |
| 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. | $2,567,632 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $1,687,385 |
| Other salaries and wages | $5,145,934 |
| Pension plan accruals and contributions | $462,099 |
| Other employee benefits | $1,082,090 |
| Payroll taxes | $589,712 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,300 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,652 |
| Fees for services: Other | $839,409 |
| Advertising and promotion | $8,044 |
| Office expenses | $123,029 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $1,125,839 |
| Travel | $635,089 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,337,077 |
| Interest | $4,424 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $99,766 |
| All other expenses | $126,615 |
| Total functional expenses | $19,291,019 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,189 |
| Savings and temporary cash investments | $7,055,846 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,310,954 |
| 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 | $689,855 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $4,857,922 |
| Investments—other securities | $4,736,258 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,343,744 |
| Total assets | $22,000,768 |
| Accounts payable and accrued expenses | $1,888,564 |
| Grants payable | $0 |
| Deferred revenue | $803,786 |
| 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 | $1,736,073 |
| Total liabilities | $4,428,423 |
| Net assets without donor restrictions | $17,572,345 |
| 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 | $22,000,768 |