Mutual Insurance Association Of Iowa
- Assets
- $677.2k
- Revenue
- $312.9k
- Investments
- $0.0
- Employees
- 1
- Location
- Janesville, IA
- Founding
- 03/1944
- Data as of
- 06/2023
- EIN
- 42-0618555
Organization Overview
Mutual Insurance Association Of Iowa is located in Janesville, IA. The organization was established in 1944. According to its NTEE Classification (Y03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mutual Insurance Association Of Iowa 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 06/2023, Mutual Insurance Association Of Iowa generated $312.9k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 1.3% each year. All expenses for the organization totaled $378.2k during the year ending 06/2023. While expenses have increased by 7.2% 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE QUALITY EDUCATIONAL PROGRAMS AND NETWORKING OPPORTUNITIES TO ENHANCE OUR MEMBER COMPANIES' ABILITY TO SERVE CONSUMERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL EVENTS - ANNUAL CONVENTION AND SEMINARS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin Farrell President | OfficerTrustee | 1 | $0 |
Erin Pedrick President-Elect | Trustee | 1 | $0 |
Tj Crandall Vice President | Trustee | 1 | $0 |
Renee Walters 7122-9122 Director | Trustee | 1 | $0 |
Pete Hagenson Director | Trustee | 1 | $0 |
Brian Dix Secretary/treasurer & E.d. | OfficerTrustee | 40 | $77,000 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $177,780 |
| 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 | $177,780 |
| Total Program Service Revenue | $118,500 |
| Investment income | $15,951 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $654 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $312,885 |
| 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. | $77,000 |
| Compensation of current officers, directors, key employees. | $23,100 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $9,783 |
| Fees for services: Management | $3,479 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,550 |
| Fees for services: Lobbying | $15,550 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,142 |
| Fees for services: Other | $50,307 |
| Advertising and promotion | $0 |
| Office expenses | $7,630 |
| Information technology | $4,338 |
| Royalties | $0 |
| Occupancy | $6,000 |
| Travel | $11,384 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $174,754 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $930 |
| Insurance | $2,560 |
| All other expenses | $559 |
| Total functional expenses | $378,244 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $211,336 |
| 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 | $1,964 |
| Investments—publicly traded securities | $463,894 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $677,194 |
| 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 | $42 |
| Total liabilities | $42 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $677,152 |
| Total liabilities and net assets/fund balances | $677,194 |