Mso Inc
- Assets
- $1.8m
- Revenue
- $3.3m
- Investments
- $0.0
- Employees
- 19
- Location
- Glen Rock, NJ
- Founding
- 01/1992
- Data as of
- 12/2023
- EIN
- 52-1755454
Organization Overview
Mso Inc is located in Glen Rock, NJ. The organization was established in 1992. According to its NTEE Classification (S41) the organization is classified as: Chambers of Commerce & Business Leagues, under the broad grouping of Community Improvement & Capacity Building and related organizations. As of 12/2023, Mso Inc employed 19 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Mso 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, Mso Inc generated $3.3m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $2.9m during the year ending 12/2023. 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
THE ORGANIZATION'S PURPOSE AND MISSION IS TO PROVIDE PROPERTY & CASUALTY INSURANCE CARRIERS WITH COMMERCIAL AND PERSONAL LINES PROGRAMS WHICH INCLUDE FORMS, RATES, AND /OR LOSS COSTS. THESE PROGRAMS WILL BE DEVELOPED AND FILED AS NEEDED IN THE US DOMESTIC MARKET. THE INTELLECTUAL PROPERTY CREATED WILL BE MADE AVAILABLE UNDER A SUBSCRIBER MODEL AT A REASONABLE MARKET BASED COST. IN ADDITION, AS PART OF ITS MISSION MSO PROVIDES EDUCATIONAL SERVICES TO THE PROPERTY AND CASUALTY INDUSTRY FOR THE CONTINUED EDUCATION OF INSUREDS, AGENTS/BROKERS, AND INSURANCE CARRIERS AND THEIR STAFFS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PROVIDED ITS 35 MEMBERS WITH A VARIETY OF INSURANCE RELATED SERVICES INCLUDING: -PROVIDING RATING, STATISTICAL, ACTUARIAL, POLICY FORMS AND RELATED SERVICES; -STATISTICAL INFORMATION PERTAINING TO RISKS; -TO WORK FOR THE BETTERMENT OF THE INSURANCE INDUSTRY AND BEHALF OF ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael L Faron Trustee | Trustee | 1 | $7,000 |
Brian P Lytwynec Trustee | Trustee | 1 | $4,000 |
Edward D Arovas Trustee | Trustee | 1 | $5,000 |
Eric P Schmader Trustee | Trustee | 1 | $8,000 |
James R Doherty Trustee | Trustee | 1 | $6,000 |
Jodeen Urban Trustee | Trustee | 1 | $3,500 |
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 | $3,288,195 |
| Investment income | $11,328 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$15,327 |
| 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 | $3,320,617 |
| 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. | $985,940 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $749,010 |
| Pension plan accruals and contributions | $20,869 |
| Other employee benefits | $57,368 |
| Payroll taxes | $125,089 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $15,230 |
| Fees for services: Accounting | $19,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $102,587 |
| Advertising and promotion | $0 |
| Office expenses | $68,707 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $12,363 |
| Travel | $37,071 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $102,433 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $21,111 |
| Insurance | $34,151 |
| All other expenses | $0 |
| Total functional expenses | $2,850,176 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $56,192 |
| Savings and temporary cash investments | $461,597 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $188,555 |
| 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 | $131,940 |
| Net Land, buildings, and equipment | $593,109 |
| Investments—publicly traded securities | $241,124 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $104,225 |
| Total assets | $1,776,742 |
| Accounts payable and accrued expenses | $82,641 |
| 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 | $155,657 |
| Total liabilities | $238,298 |
| Net assets without donor restrictions | $1,538,444 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $1,776,742 |