Virginia Association Of Mutual Insurance Companies
- Assets
- $269.3k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Richmond, VA
- Founding
- 06/1966
- Data as of
- 06/2024
- EIN
- 54-0492235
Organization Overview
Virginia Association Of Mutual Insurance Companies is located in Richmond, VA. The organization was established in 1966. According to its NTEE Classification (Y23) the organization is classified as: Mutual Insurance Companies & 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. Virginia Association Of Mutual Insurance Companies 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 06/2024, Virginia Association Of Mutual Insurance Companies generated $139.1k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $103.8k during the year ending 06/2024. While expenses have increased by 11.4% per year over the past 4 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2024
Describe the Organization's Program Activity:
Part 3
PROVIDED EDUCATIONAL OPPORTUNITIES TO 32 MEMBER COMPANIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jeff Reeves President | 0 | $0 | |
Eric Piefer President - Elect | 0 | $0 | |
Theresa Lewis Executive Secretary-Treasurer | 2 | $2,520 | |
Jonathan Sisk Program Chairman | 2 | $2,100 | |
Robert Lyon Executive Committee | 0 | $0 | |
Mark Crutcher Executive Committee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $36,749 |
| Investment income | $4,047 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $98,259 |
| Total Revenue | $139,055 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $5,005 |
| Professional fees and other payments to independent contractors | $10,000 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $0 |
| Other expenses | $88,783 |
| Total expenses | $103,788 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $264,780 |
| Other assets | $0 |
| Total assets | $269,276 |
| Total liabilities | $22,845 |
| Net assets or fund balances | $246,431 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Americas Health Insurance Plans Inc Washington, DC | $95,699,843 | $78,597,996 |
Virginia Property Insurance Assn Glen Allen, VA | $27,761,567 | $15,058,529 |
Afl-Cio Mutual Benefit Plan Washington, DC | $42,617,776 | $1,886,408 |
Farmers Union Mutual Fire Inc Co Of Bradley County Tennessee Term Cleveland, TN | $2,299,326 | $428,940 |
Farmers Mutual Insurance Company Of Giles County Pulaski, TN | $1,106,782 | $317,483 |
Virginia Association Of Mutual Insurance Companies Richmond, VA | $269,276 | $0 |
Floyd County Mutual Fire Ins Co Inc Floyd, VA | $3,577,141 | $220,928 |
Farmers Mutual Fire Insur Co Maynardville, TN | $1,561,030 | $74,001 |
Fox Group Reinsurance Ltd Franklin, TN | $1,776,876 | $18 |
Nassief Group Reinsurance Ltd Franklin, TN | $642,296 | $55 |