Aviation Insurance Association
- Assets
- $491.0k
- Revenue
- $864.4k
- Investments
- $0.0
- Employees
- 0
- Location
- Lexington, KY
- Founding
- 07/1978
- Data as of
- 12/2023
- EIN
- 36-2976270
Organization Overview
Aviation Insurance Association is located in Lexington, KY. The organization was established in 1978. According to its NTEE Classification (U30) the organization is classified as: Physical & Earth Sciences, under the broad grouping of Science & Technology and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aviation Insurance Association 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 12/2023, Aviation Insurance Association generated $864.4k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $831.3k during the year ending 12/2023. While expenses have increased by 4.0% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE INFORMATION AND EDUCATION FOR MEMBERS ABOUT AVIATION INSURANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP: NETWORKING AND DEVELOPING RELATIONSHIPS WITH OTHERS IN THE AVIATION INSURANCE INDUSTRY.EDUCATIONAL PROGRAMS: SELF-STUDY AND CLASSROOM TRAINING FOR NEW EMPLOYEES, TO MEET CIE REQUIREMENTS AND QUALIFICATION FOR THE PRESTIGIOUS CAIP DESIGNATION. REDUCED REGISTRATION FEES TO ALL AIA MEETINGS AND EDUCATIONAL PROGRAMS.INDUSTRY PUBLICATION: THE BINDER, PUBLISHED FOUR TIMES PER YEAR.
CONFERENCES: A VENUE TO TRADE EXPERIENCES, CREATE BUSINESS PARTNERSHIPS, AND DISCUSS THE CURRENT STATE OF THE INDUSTRY FROM EACH SEGMENT OF THE ASSOCIATION. NETWORK WITH YOUR PEERS OVER COCKTAILS DURING THE OPENING RECEPTION, GET INDEPTH KNOWLEDGE AT THE CONTINUING EDUCATION SESSIONS, AND LEARN WHAT IS TO COME FOR THE AVIATION INSURANCE INDUSTRY FROM LEADERS IN AVIATION FROM AROUND THE WORLD.
EDUCATION: THE ASSOCIATION OFFERS SEVERAL PROGRAMS TO THOSE INTERESTED IN ENHANCING THEIR INDUSTRY KNOWLEDGE, SOME OF THE CLASSES WE OFFER WILL HELP THOSE NEW TO THE INDUSTRY GET ACCLIMATED TO THE FIELD WHILE OTHERS ARE DESIGNED TO HELP PROFESSIONALS EARN THEIR CERTIFIED AVIATION INSURANCE PROFESSIONAL DESIGNATION. WE EVEN OFFER CONTINUING EDUCATION CREDITS FOR SEVERAL CLASSES TO HELP YOU KEEP UPTODATE WITH YOUR STATE REQUIREMENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher S Morin President | OfficerTrustee | 1 | $0 |
Ian Wrigglesworth Vice President | OfficerTrustee | 1 | $0 |
Nicole Wolfe Stout Treasurer | OfficerTrustee | 1 | $0 |
Luke Uithoven Secretary | OfficerTrustee | 1 | $0 |
David Hampson Director | Trustee | 0.5 | $0 |
Michael Mcgrory Director | Trustee | 0.5 | $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 | $863,453 |
| Investment income | $10 |
| 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 | $864,366 |
| 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 | $258,428 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $7,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $27,721 |
| Information technology | $5,505 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $46,930 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $338,732 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,760 |
| All other expenses | $5,190 |
| Total functional expenses | $831,305 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $418,212 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $19,627 |
| 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 | $53,127 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $490,966 |
| Accounts payable and accrued expenses | $15,584 |
| Grants payable | $0 |
| Deferred revenue | $139,490 |
| 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 | $155,074 |
| Net assets without donor restrictions | $335,892 |
| 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 | $490,966 |