Mutual Insurance Association Of Iowa
- Assets
- $697.9k
- Revenue
- $349.1k
- Investments
- $0.0
- Employees
- 2
- Location
- Janesville, IA
- Founding
- 03/1944
- Data as of
- 06/2022
- 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. As of 06/2022, Mutual Insurance Association Of Iowa employed 2 individuals. 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 06/2022, Mutual Insurance Association Of Iowa generated $349.1k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.1% each year. All expenses for the organization totaled $331.8k during the year ending 06/2022. While expenses have increased by 6.2% per year over the past 7 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
2022
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 |
|---|---|---|---|
Brian Dix Secretary/treasurer & E.d. | OfficerTrustee | 40 | $70,000 |
Angie Baldwin 7121-111421 Former Past President | OfficerTrustee | 1 | $0 |
Alan Mahaffey Past President | OfficerTrustee | 1 | $0 |
Scott Lahr President | OfficerTrustee | 1 | $0 |
Kevin Farrell President-Elect | OfficerTrustee | 1 | $0 |
Tom Brincks 7121-111421 Former Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $174,900 |
| 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 | $174,900 |
| Total Program Service Revenue | $154,540 |
| Investment income | $24,982 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$5,322 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $349,100 |
| 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. | $70,000 |
| Compensation of current officers, directors, key employees. | $21,000 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,953 |
| Fees for services: Management | $3,772 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,550 |
| Fees for services: Lobbying | $13,650 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $4,368 |
| Fees for services: Other | $28,785 |
| Advertising and promotion | $0 |
| Office expenses | $6,441 |
| Information technology | $5,031 |
| Royalties | $0 |
| Occupancy | $6,000 |
| Travel | $7,782 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $156,249 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $485 |
| Insurance | $8,876 |
| All other expenses | $1,291 |
| Total functional expenses | $331,792 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $287,307 |
| 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 | $2,894 |
| Investments—publicly traded securities | $407,720 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $697,921 |
| 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 | $697,879 |
| Total liabilities and net assets/fund balances | $697,921 |
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