Joint Insurance Association
- Assets
- $2.6m
- Revenue
- $770.2k
- Investments
- $500.0k
- Employees
- 6
- Location
- Ellicott City, MD
- Founding
- 08/1974
- Data as of
- 09/2022
- EIN
- 52-0983562
Organization Overview
Joint Insurance Association is located in Ellicott City, MD. The organization was established in 1974. According to its NTEE Classification (Y01) the organization is classified as: Alliances & Advocacy, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 09/2022, Joint Insurance Association employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Joint 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 09/2022, Joint Insurance Association generated $770.2k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (7.6%) each year. All expenses for the organization totaled $1.5m during the year ending 09/2022. As we would expect to see with falling revenues, expenses have declined by (2.1%) per year over the past 7 years. 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
PROVIDING PROPERTY INSURANCE PER MARYLAND STATE LAW.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE MARYLAND JOINT INSURANCE ASSOCIATION WAS FORMED IN 1968 TO PROVIDE CERTAIN PROPERTY AND CASUALTY INSURANCE TO APPLICANTS IN THE STATE OF MARYLAND. FOR THE YEAR ENDED 9/30/22, JOINT INSURANCE ASSOCIATION HAD 670 POLICIES IN-FORCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christopher Dooley General Manager & Secretar | Officer | 40 | $192,345 |
Bill Lingenfelter Vice Chairmain | OfficerTrustee | 1 | $0 |
James Mulholland Chairman | OfficerTrustee | 1 | $0 |
Todd Rush Governing Committee | Trustee | 1 | $0 |
Matthew Epstein Governing Committee | Trustee | 1 | $0 |
Frank Folger Governing Committee | Trustee | 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 | $643,423 |
| Investment income | $0 |
| 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 | $770,233 |
| 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. | $192,345 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $268,940 |
| Pension plan accruals and contributions | -$42,436 |
| Other employee benefits | $106,700 |
| Payroll taxes | $33,318 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $29,365 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $210,390 |
| Advertising and promotion | $0 |
| Office expenses | $16,180 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $57,648 |
| Travel | $27,365 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $4,634 |
| Insurance | $835 |
| All other expenses | $41,553 |
| Total functional expenses | $1,546,098 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,026,270 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $114,891 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $500,042 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,641,203 |
| 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 | $1,785,594 |
| Total liabilities | $1,785,594 |
| 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 | $855,609 |
| Total liabilities and net assets/fund balances | $2,641,203 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Independent Insurance Agents And Brokers Of America Inc Alexandria, VA | $30,236,166 | $12,870,454 |
National Association Of Insurance And Financial Advisors Falls Church, VA | $8,421,667 | $10,756,132 |
Insurance Agents And Brokers Of Pennsylvania Inc Mechanicsburg, PA | $6,872,120 | $2,426,813 |
Wellness Advocacy Fund Fulton, MD | $42,284,192 | $3,562,740 |
Delaware Insurance Guaranty Association Newark, DE | $30,181,885 | $1,199,460 |
Joint Insurance Association Ellicott City, MD | $2,641,203 | $770,233 |
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