American Council Of Life Insurance Inc
- Assets
- $64.7m
- Revenue
- $53.4m
- Investments
- $35.4m
- Employees
- 135
- Location
- Washington, DC
- Founding
- 03/1977
- Data as of
- 12/2023
- EIN
- 52-1044350
Organization Overview
American Council Of Life Insurance Inc is located in Washington, DC. The organization was established in 1977. 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 12/2023, American Council Of Life Insurance Inc employed 135 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. American Council Of Life Insurance Inc 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 12/2023, American Council Of Life Insurance Inc generated $53.4m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.8% each year. All expenses for the organization totaled $52.0m during the year ending 12/2023. While expenses have increased by 0.2% per year over the past 9 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 2014, American Council Of Life Insurance Inc has awarded 90 individual grants totaling $2,961,687. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDES A UNIFIED MEMBERSHIP ASSOCIATION TO ADVANCE THE COMMON INTERESTS OF THE LIFE INSURANCE INDUSTRY. THE ACLI IS A UNIFIED VOICE ON ISSUES FROM RETIREMENT SECURITY TO TAX POLICY TO INTERNATIONAL TRADE. WE ARE BACKED BY AN INDUSTRY WITH MORE THAN 200 YEARS OF EXPERIENCE PROTECTING AMERICAN FAMILIES AND BUSINESSES. THE ACLI SHAPES PUBLIC DEBATE, STAYS AHEAD OF TRENDS, AND HELPS ITS MEMBERS COMPETE IN CHANGING TIMES. THE ACLI EXPANDS AWARENESS OF HOW THE PRODUCTS OFFERED BY LIFE INSURERS-LIFE INSURANCE, ANNUITIES, DISABILITY INCOME AND LONG-TERM CARE INSURANCE, PENSION, 401(K), 403(B), 457 PLANS, AND IRAS - HELP AMERICANS PLAN FOR AND ACHIEVE FINANCIAL AND RETIREMENT SECURITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STATE AFFAIRS:REPRESENTS THE INDUSTRY IN STATE AND LOCAL LEGISLATIVE MATTERS, RESEARCHES AND COMPILES STATISTICS FOR THE LIFE INSURANCE INDUSTRY.
PUBLIC AFFAIRS:CLEARINGHOUSE FOR EXCHANGE OF INDUSTRY IDEAS, STUDIES POSSIBLE SERVICE ENHANCEMENTS, PROMOTES INDUSTRY UNDERSTANDING.
FEDERAL AFFAIRS:REPRESENTS THE INDUSTRY IN FEDERAL LEGISLATIVE MATTERS, RESEARCHES AND COMPILES STATISTICS FOR THE LIFE INSURANCE INDUSTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Quaranto Jr Chair | OfficerTrustee | 2 | $0 |
Richard Bielen Chair-Elect | OfficerTrustee | 2 | $0 |
Teresa Rasmussen Chair-Elect Designate | OfficerTrustee | 2 | $0 |
Andrew Sullivan Immediate Past Chair | Trustee | 2 | $0 |
J Scott Davison Immediate Past Chair | Trustee | 2 | $0 |
Gary Bhojwani Director | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Gmmb Inc Strategic Communications Consulting | 12/30/23 | $756,434 |
Akin Gump Strauss Hauer Advocacy Lobbying | 12/30/23 | $434,000 |
Wilmerhale (Wilmer Cutler & Pickering) Legal Representation | 12/30/23 | $461,819 |
Invariant Llc Advocacy Lobbying | 12/30/23 | $390,000 |
Plus Communications Llc Strategic Communications Consulting | 12/30/23 | $427,308 |
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 | $52,390,103 |
| Investment income | $775,049 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$1,039,370 |
| Net Gain/Loss on Asset Sales | $280,195 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $53,416,098 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $422,382 |
| 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. | $10,463,167 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,279,314 |
| Pension plan accruals and contributions | $2,750,411 |
| Other employee benefits | $1,750,215 |
| Payroll taxes | $1,404,859 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $129,141 |
| Fees for services: Accounting | $95,545 |
| Fees for services: Lobbying | $2,158,284 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $160,734 |
| Fees for services: Other | $2,537,611 |
| Advertising and promotion | $627,259 |
| Office expenses | $720,636 |
| Information technology | $1,026,310 |
| Royalties | $0 |
| Occupancy | $1,977,687 |
| Travel | $633,109 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $2,692,924 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $260,534 |
| Insurance | $131,188 |
| All other expenses | $1,256,614 |
| Total functional expenses | $52,048,437 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $438 |
| Savings and temporary cash investments | $18,581,753 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $334,094 |
| 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 | $848,566 |
| Net Land, buildings, and equipment | $534,108 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $35,389,226 |
| Investments—program-related | $0 |
| Intangible assets | $325,000 |
| Other assets | $8,670,548 |
| Total assets | $64,683,733 |
| Accounts payable and accrued expenses | $8,466,248 |
| Grants payable | $0 |
| Deferred revenue | $2,265,929 |
| 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 | $18,214,288 |
| Total liabilities | $28,946,465 |
| Net assets without donor restrictions | $35,427,023 |
| Net assets with donor restrictions | $310,245 |
| 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 | $64,683,733 |
Grants Awarded
Over the last fiscal year, American Council Of Life Insurance Inc has awarded $409,632 in support to 11 organizations.
| Grant Recipient | Amount |
|---|---|
MOUNT VERNON LADIES ASSOCIATION PURPOSE: GENERAL SUPPORT | $15,000 |
FORDS THEATER PURPOSE: GENERAL SUPPORT | $25,000 |
CONGRESSIONAL COALITION ON ADOPTION INSTITUTE PURPOSE: GENERAL SUPPORT | $50,000 |
JUNIOR ACHIEVEMENT USA PURPOSE: GENERAL SUPPORT | $127,632 |
US CAPITOL HISTORICAL SOCIETY PURPOSE: GENERAL SUPPORT | $15,000 |
ASAE-AMERICAN SOCIETY OF ASSOCIATION EXECUTIVES PURPOSE: GENERAL SUPPORT | $12,000 |