National Association Of Benefits And Insurance Professionals
- Assets
- $4.7m
- Revenue
- $6.9m
- Investments
- $0.0
- Employees
- 31
- Location
- Washington, DC
- Founding
- 12/1948
- Data as of
- 12/2022
- EIN
- 36-2144394
Organization Overview
National Association Of Benefits And Insurance Professionals is located in Washington, DC. The organization was established in 1948. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2022, National Association Of Benefits And Insurance Professionals employed 31 individuals. This organization is the central organization for a national or regional group of organizations. National Association Of Benefits And Insurance Professionals 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 Benefits And Insurance Professionals generated $6.9m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.5%) each year. All expenses for the organization totaled $7.4m during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (0.6%) 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
ADVOCATE FOR MEMBERS, PROVIDE PROFESSIONAL DEVELOPMENT, & DELIVER RESOURCES TO PROMOTE EXCELLENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONVENTION/LPRT - OUR ANNUAL CONVENTION PROVIDES A FORUM FOR THE EXCHANGE OF MANAGEMENT, TECHNOLOGY, AND INDUSTRY BEST PRACTICES. IT ALSO PROVIDES A MEANS FOR THE DISSEMINATION OF OTHER IMPORTANT TIMELY INFORMATION THAT ENABLES ATTENDEES TO BRING HIGHER VALUE TO THEIR CLIENTS. PRODUCERS WHO MEET CERTAIN QUALIFICATIONS RECEIVE SPECIAL RECOGNITION.
LEGISLATIVE PROGRAMS - OUR CAPITOL CONFERENCE PROVIDES AN ANNUAL FORUM FOR EXTENSIVE EDUCATION ON CURRENT LEGISLATIVE ISSUES. IT ALSO PROVIDES AN OPPORTUNITY FOR OUR MEMBERS TO MEET WITH AND HEAR FROM MEMBERS OF CONGRESS AND ADMINISTRATION AND TO LEARN ABOUT CURRENT LEGISLATIVE PROPOSALS. IT ALSO ALLOWS OUR MEMBERS TO SHARE THEIR EXPERIENCES WITH THEIR LEGISLATORS ON ISSUES FACING CONSUMERS OF HEALTH INSURANCE ALL OVER AMERICA.
EDUCATION - EDUCATION PROGRAMS PROVIDE A MEANS TO ENSURE CONTINUING PROFESSIONAL DEVELOPMENT AND CONTINUING EDUCATION TO MEET STATE LICENSING REQUIREMENTS. PROGRAMS INCLUDE ETHICS TRAINING AS WELL AS MANY OTHER PROGRAMS WITH THE LATEST INFORMATION ON COMPLIANCE. PROGRAMS ARE PROVIDED AT BOTH THE LOCAL CHAPTER LEVEL AS WELL AS ONLINE AND THROUGH VARIOUS VIRTUAL OPPORTUNITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kelly Fristoe President | OfficerTrustee | 7 | $12,501 |
Eric Kohlsdorf President Elect | OfficerTrustee | 5 | $0 |
Eugene Starks Immediate Past President | OfficerTrustee | 7 | $14,400 |
Dane Rianhard Immediate Past President-Left June 22 | OfficerTrustee | 5 | $0 |
Alycia Riedl Vice President | OfficerTrustee | 5 | $0 |
Susan Rider Treasurer | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Tiber Creek Legislative Consultants | 12/30/22 | $151,250 |
Delcor Technology It Consultants | 12/30/22 | $147,942 |
Net Study Llc Ce Provider | 12/30/22 | $146,983 |
Intuitive Business Concepts Database Consultant | 12/30/22 | $127,276 |
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 | $6,312,008 |
| Investment income | $52,932 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $156,511 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$94,380 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $4,019 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,853,102 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $866 |
| 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. | $1,250,446 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $2,063,473 |
| Pension plan accruals and contributions | $50,225 |
| Other employee benefits | $369,401 |
| Payroll taxes | $211,040 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $12,582 |
| Fees for services: Accounting | $47,135 |
| Fees for services: Lobbying | $296,144 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,126 |
| Fees for services: Other | $329,900 |
| Advertising and promotion | $331,799 |
| Office expenses | $332,370 |
| Information technology | $97,036 |
| Royalties | $0 |
| Occupancy | $292,192 |
| Travel | $153,408 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $158,465 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $71,779 |
| Insurance | $20,609 |
| All other expenses | $28,921 |
| Total functional expenses | $7,383,364 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $259,207 |
| Savings and temporary cash investments | $13,486 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $479,933 |
| 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 | $217,435 |
| Net Land, buildings, and equipment | $221,597 |
| Investments—publicly traded securities | $1,116,872 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $50,000 |
| Other assets | $2,344,549 |
| Total assets | $4,703,079 |
| Accounts payable and accrued expenses | $719,457 |
| Grants payable | $0 |
| Deferred revenue | $1,347,685 |
| 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 | $2,657,126 |
| Total liabilities | $4,724,268 |
| Net assets without donor restrictions | -$21,189 |
| 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 | $4,703,079 |