National Association Of Mutual Insurance Companies

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 12/2021, National Association Of Mutual Insurance Companies employed 110 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 12/2021, National Association Of Mutual Insurance Companies generated $18.2m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 4.3% each year. All expenses for the organization totaled $16.5m during the year ending 12/2021. While expenses have increased by 3.5% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

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 POLICY ACTIVITY INCLUDING CONGRESSIONAL CONTACT AND POLITICAL ACTION PROGRAMS, JOINT INDUSTRY OR INDIVIDUAL ADVOCACY PROJECT EFFORTS, ONGOING COMMUNICATION AND EDUCATION ON RELEVANT PUBLIC POLICY ISSUES AND RELATED SUPPORT AND OVERSIGHT.


EDUCATION AND CERTIFICATION - NAMIC DEVELOPS, ORGANIZES AND CONDUCTS IN- PERSON AND VIRTUAL INDUSTRY/MEMBER EVENTS AND PROGRAMS ADDRESSING INSURANCE COMPANY OPERATIONS (UNDERWRITING, CLAIMS, MARKETING), GOVERNANCE, EXECUTIVE AND MANAGEMENT LEVEL EDUCATION AS WELL AS AWARENESS OF AVAILABLE TECHNOLOGY, SYSTEMS AND SERVICE PROVIDERS TO INSURANCE COMPANIES. NAMIC PROVIDES PROGRAMMING AND ADMINISTRATION OF THREE CERTIFICATION PROGRAMS FOR MEMBER COMPANY BOARDS OF DIRECTORS AND COMPANY MANAGERS INVOLVING MORE THAN 1,200 INDIVIDUALS SEEKING OR HOLDING CERTIFICIATIONS. NAMIC PLANS AND MANGAGES AN ANNUAL CONVENTION GENERALLY ATTENDED BY MORE THEN 1,500 BUSINESS ATTENDEES AND EXHIBITORS.


BUSINESS SUPPORT AND SERVICES- NAMIC DEVELOPS AND PROVIDES 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, BRAND SUPPORT FOR MUTUAL INSURANCE COMPANIES; INTERNET/TECHNOLOGY SERVICES; AND BENEFIT PROGRAMS FOR MEMBER COMPANY EMPLOYEES.


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Board, Officers & Key Employees

Name (title)Compensation
Charles M Chamness
Former Pres
$1,281,954
Neil Alldredge
President &
$595,473
Jimi Grande
Sen VP - Gov
$505,556
Gregg A Dykstra
COO & Clo
$453,456
Erin Collins
VP -State Af
$260,902
Thomas Karol
General Coun
$230,960

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Ember Llc
Event Planning
$518,033
Crossroads Strategies Llc
Legal Support
$120,000
Relx Inc
Compliance Res.
$106,373
Freeman
Exhibit Service
$100,570
View All Vendors

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$18,033,776
Investment income $86,865
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $93,985
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $18,221,926

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