Illinois Land Title Association
- Assets
- $719.8k
- Revenue
- $418.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Springfield, IL
- Founding
- 10/1956
- Data as of
- 12/2019
- EIN
- 37-6046634
Organization Overview
Illinois Land Title Association is located in Springfield, IL. The organization was established in 1956. According to its NTEE Classification (S47) the organization is classified as: Real Estate Associations, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Illinois Land Title 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 12/2019, Illinois Land Title Association generated $418.1k in total revenue. This organization has experienced exceptional growth, as over the past 5 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $381.1k during the year ending 12/2019. While expenses have increased by 19.3% per year over the past 5 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
2019
Describe the Organization's Mission:
Part 3 - Line 1
THE ILLINOIS LAND TITLE ASSOCIATION WAS FORMED TO PROMOTE THE BUSINESS OF PREPARING ABSTRACTS OF REAL ESTATE AND THE BUSINESS OF INSURING TITLES; TO PROMOTE AQUAINTANCE, MUTUAL ADVANTAGE AND GENERAL WELFARE OF ITS MEMBERS BY THE INTERCHANGING OF IDEAS AND BY SUGGESTING AND PROMOTING REMEDIAL OR OTHER MEASURES TO ADVANCE THE INTEREST OF ITS MEMBERS AND THE GENERAL PUBLIC IN HARMONY WITH THEIR RIGHTS, INTERESTS, AND DUTIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL SEMINARS TO EDUCATE MEMBERS IN STATE LAW AND ETHICAL AND ACCEPTABLE BUSINESS PRACTICES FOR THE INDUSTRY.
LEGISLATIVE MONITORING TO IMPROVE THE LEGAL ENVIRONMENT FOR MEMBER FIRMS. PROVIDING NEWSLETTERS AND SUPPLIES TO HELP PERFORM THEIR PROFESSIONAL SERVICES.
WEBSITE DESIGN AND MAINTENANCE TO PROVIDE A SOURCE FOR MEMBERS TO RECEIVE INFORMATION REGARDING THE LAND TITLE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sue Humphris President | Officer | 5 | $0 |
Mary Pellegrini Treasurer | Officer | 2 | $0 |
Trish Kiddell Past President | Officer | 1 | $0 |
Susan Higgins 1st Vice President | Officer | 1 | $0 |
Tania Stori 2nd Vice President | Officer | 1 | $0 |
Linda Grahovec Secretary | Officer | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $244,496 |
| Investment income | $7,488 |
| 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 | $418,117 |
| Statement of Expenses | |
|---|---|
| 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 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 | $102,575 |
| Fees for services: Legal | $25,943 |
| Fees for services: Accounting | $400 |
| Fees for services: Lobbying | $69,000 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $457 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $2,991 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $107,447 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $3,317 |
| All other expenses | $0 |
| Total functional expenses | $381,121 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $414,910 |
| Savings and temporary cash investments | $304,893 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $719,803 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $167,624 |
| 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 | $167,624 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $552,179 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Institute Of Real Estate Management Of The Natl Assn Of Realtors Chicago, IL | $10,741,868 | $14,078,057 |
Illinois Assn Of Realtors Springfield, IL | $43,746,253 | $17,014,133 |
Center For Specialized Realtor Education Inc Chicago, IL | $26,431,436 | $9,121,401 |
Swedish American Realty Corporation Rockford, IL | $18,485,524 | $7,044,065 |
Sdco Sfs Logistics Center Inc Chicago, IL | $145,459,378 | $6,525,972 |
Ipers 510 Marquette Inc Chicago, IL | $54,685,062 | $6,518,064 |
Ipers Creekside Inc Chicago, IL | $129,458,514 | $6,603,466 |
Savelli Properties Inc St Louis, MO | $35,804,880 | $2,705,555 |
Ipers Villas On Guadalupe-Tx Inc Chicago, IL | $47,058,177 | $4,863,492 |
Oakland 14th Office Inc Chicago, IL | $72,846,084 | $5,287,147 |
Highlands 501c 25 Inc Chicago, IL | $44,455,397 | $4,360,723 |
Sdc Clifton Commons Inc Chicago, IL | $61,522,059 | $4,418,653 |