Surplus Line Association Of Illinois
- Assets
- $9.0m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 8
- Location
- Chicago, IL
- Founding
- 03/1986
- Data as of
- 12/2022
- EIN
- 36-3360838
Organization Overview
Surplus Line Association Of Illinois is located in Chicago, IL. The organization was established in 1986. According to its NTEE Classification (S40) the organization is classified as: Business & Industry, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2022, Surplus Line Association Of Illinois employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Surplus Line Association Of Illinois 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, Surplus Line Association Of Illinois generated $3.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $2.4m during the year ending 12/2022. While expenses have increased by 3.5% 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.
Since 2018, Surplus Line Association Of Illinois has awarded 12 individual grants totaling $305,000. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
SURPLUS LINE ASSOCIATION OF ILLINOIS WAS CREATED BY PUBLIC ACT 83-1300 OF THE ILLINOIS LEGISLATURE TO SERVE AS A LIAISON BETWEEN THE STATE AND SURPLUS LINE LICENSEES FOR THE PURPOSE OF REPORTING TO THE STATE OF ILLINOIS. THE ASSOCIATION DERIVES ITS REVENUE PRINCIPALLY THROUGH STAMPING FEES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
RECEIVE, RECORD AND COUNTERSIGN ALL SURPLUS LINE INSURANCE CONTRACTS THAT SURPLUS LINE PRODUCERS ARE REQUIRED TO FILE WITH THE ASSOCIATION UNDER SUBSECTION (5) OF 215 ILCS 5/445 OF THE ILLINOIS STATUTES. RECEIVE AND RECORD ALL UNAUTHORIZED INSURER CONTRACTS THAT INDUSTRIAL INSUREDS ARE REQUIRED TO FILE WITH THE ASSOCIATION UNDER 215 ILCS 5/121.2-08 OF THE ILLINOIS STATUTES. IN 2022, 165,369 DOCUMENTS WERE PROCESSED.
PREPARE AND DELIVER TO EACH LICENSEE AND THE DIRECTOR OF INSURANCE THE REPORTS OF SURPLUS LINE BUSINESS PRESCRIBED IN SUBSECTION (5) OF 215 ILCS 5/445 OF THE ILLINOIS STATUTES. ONE REPORT PER MONTH FOR A MEMBERSHIP OF 1,628 AS OF DECEMBER 31, 2022.PREPARE SURPLUS LINE TAX STATEMENTS AND FIRE MARSHAL TAX STATEMENTS FOR ALL LICENSEES. ONE OF EACH TAX STATEMENT WAS PREPARED FOR A MEMBERSHIP LICENSEE POPULATION OF 3,258 AS OF DECEMBER 31, 2022.
FACILITATE AND ENCOURAGE COMPLIANCE BY MEMBERS WITH THE SURPLUS LINE LAW OF ILLINOIS AND RULES PROMULGATED THEREUNDER AND PROVIDE SUCH OTHER SERVICES TO MEMBERS AS ARE INCIDENTAL OR RELATED TO THE PURPOSES OF THE ASSOCIATION AS DESCRIBED IN SUBSECTIONS (8) AND (9) OF 215 ILCS 5/445.1 OF THE ILLINOIS INSURANCE CODE.
PREPARE MONTHLY REPORTS FOR THE DIRECTOR OF INSURANCE ON SURPLUS LINE INSURANCE PROCURED BY ITS MEMBERS DURING THE PRECEDING MONTH IN SUCH FORM AND PROVIDING SUCH INFORMATION AS THE DIRECTOR MAY PRESCRIBE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David L Ocasek Chief Executive Officer | Officer | 40 | $300,923 |
Richard J Dunlap Dir. Of Finance & Administration | 40 | $175,922 | |
Craig W Howser Vice Chair | OfficerTrustee | 1 | $0 |
Stephen Beard Chair | OfficerTrustee | 1 | $0 |
John Beniaris Treasurer Through 9/2022 | OfficerTrustee | 1 | $0 |
Patrick Muldowney Secretary | OfficerTrustee | 1 | $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 | $3,063,563 |
| Investment income | $25,509 |
| 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 | $3,089,072 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $40,000 |
| 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. | $843,036 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $362,249 |
| Pension plan accruals and contributions | $198,246 |
| Other employee benefits | $207,749 |
| Payroll taxes | $55,836 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,402 |
| Fees for services: Accounting | $14,250 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,122 |
| Advertising and promotion | $0 |
| Office expenses | $32,203 |
| Information technology | $192,176 |
| Royalties | $0 |
| Occupancy | $215,299 |
| Travel | $45,899 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $14,920 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $87,417 |
| Insurance | $33,849 |
| All other expenses | $0 |
| Total functional expenses | $2,418,837 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $563,192 |
| Savings and temporary cash investments | $8,183,712 |
| 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 | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $160,895 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $140,478 |
| Total assets | $9,048,277 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $0 |
| Net assets without donor restrictions | $9,048,277 |
| 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 | $9,048,277 |
Grants Awarded
Over the last fiscal year, Surplus Line Association Of Illinois has awarded $40,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Springfield, IL PURPOSE: SCHOLARSHIP | $20,000 |
Normal, IL PURPOSE: SCHOLARSHIP | $20,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Midway Airlines Terminal Consortium Chicago, IL | $5,016,144 | $16,801,841 |
Julie Inc Joliet, IL | $17,181,914 | $10,586,687 |
International Accreditation Service Inc Country Club Hills, IL | $30,369,423 | $13,023,651 |
Better Business Bureau Of Chicago And Northern Illinois Inc Chicago, IL | $9,345,951 | $7,242,725 |
Somercor 504 Inc Chicago, IL | $3,029,721 | $5,498,037 |
Chicago Minority Supplier Development Council Inc Chicago, IL | $1,146,742 | $3,861,380 |
Sdco 2121 Belmont Inc Chicago, IL | $50,394,223 | $3,094,881 |
American Academy Of Emergency Medicine Inc Milwaukee, WI | $5,226,963 | $3,404,237 |
Better Business Bureau Of Wisconsin Inc Milwaukee, WI | $5,171,220 | $3,579,852 |
Financial & Insurance Conference Professionals Chicago, IL | $5,858,048 | $2,460,356 |
Surplus Line Association Of Illinois Chicago, IL | $9,048,277 | $3,089,072 |
American Alliance Of Orthopaedic Executives Inc Indianapolis, IN | $1,277,728 | $2,372,301 |