Metropolitan Washington Association Of Independent Insurance Agents
- Assets
- $356.2k
- Revenue
- $110.9k
- Investments
- $0.0
- Employees
- 0
- Location
- New Cumberland, PA
- Founding
- 06/1959
- Data as of
- 08/2022
- EIN
- 52-6066961
Organization Overview
Metropolitan Washington Association Of Independent Insurance Agents is located in New Cumberland, PA. The organization was established in 1959. 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. Metropolitan Washington Association Of Independent Insurance Agents 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 08/2022, Metropolitan Washington Association Of Independent Insurance Agents generated $110.9k 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 (3.2%) each year. All expenses for the organization totaled $120.7k during the year ending 08/2022. As we would expect to see with falling revenues, expenses have declined by (1.6%) 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
TO SUPPORT AND PROMOTE INDEPENDENT INSURANCE AGENCIES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBER SERVICES-PROVIDE MEMBERS WITH ENROLLMENT IN THE NATIONAL ASSOCIATION, NEWSLETTERS, DIRECTORY. INFORM MEMBERS OF INDUSTRY TRENDS, BUSINESS ADVICE, ENDORSED INSURANCE PROGRAMS.
EDUCATION PROGRAMS- CONDUCTED CLASSES FOR MEMBERS & OTHERS TO SATISFY CONTINUING EDUCATION REQUIREMENTS, TO PROVIDE MANAGEMENT TRAINING AND TO FULFILL SPECIAL INTERESTS IN THE INDUSTRY
NATIONAL ASSOCIATION SEVERAL DIRECTORS ATTEND CONVENTIONS AND A MEMBER HAD BEEN ELECTED PRESIDENT IN A PREVIOUS YEAR. THE CONVENTIONS BENEFIT MEMBERSHIPS FROM PROGRAMS, CURRICULAE & INSIGHT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Barbara Wise Executive Di | Officer | 40 | $65,400 |
Patrick Howard President | OfficerTrustee | 1 | $0 |
Siu Poon Immediate Pr | OfficerTrustee | 1 | $0 |
Michael Cauley Vice Preside | OfficerTrustee | 1 | $0 |
Scott M Hoffman Treasurer | OfficerTrustee | 1 | $0 |
Cecil Bj Lockhart Director | OfficerTrustee | 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 | $84,489 |
| Investment income | $13,726 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $12,723 |
| 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 | $110,938 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $66,836 |
| Fees for services: Legal | $2,916 |
| Fees for services: Accounting | $5,750 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $750 |
| Advertising and promotion | $2,105 |
| Office expenses | $970 |
| Information technology | $1,384 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,647 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $10,127 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,393 |
| All other expenses | $1,586 |
| Total functional expenses | $120,706 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,292 |
| Savings and temporary cash investments | $0 |
| 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 | $1,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $279,064 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $36,847 |
| Total assets | $356,203 |
| Accounts payable and accrued expenses | $246 |
| Grants payable | $0 |
| Deferred revenue | $5,520 |
| 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 | $0 |
| Total liabilities | $5,766 |
| Net assets without donor restrictions | $350,437 |
| 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 | $356,203 |
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