Professional Insurance Agents Association Of Virginia & Dc
- Assets
- $152.4k
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 7
- Location
- Glen Allen, VA
- Founding
- 09/1964
- Data as of
- 12/2022
- EIN
- 54-6039747
Organization Overview
Professional Insurance Agents Association Of Virginia & Dc is located in Glen Allen, VA. The organization was established in 1964. 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 12/2022, Professional Insurance Agents Association Of Virginia & DC employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Professional Insurance Agents Association Of Virginia & DC 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 12/2022, Professional Insurance Agents Association Of Virginia & DC generated $1.1m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.7% each year. All expenses for the organization totaled $978.9k during the year ending 12/2022. While expenses have increased by 1.5% per year over the past 8 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATION OF INSURANCE PROFESSIONALS
Describe the Organization's Program Activity:
Part 3 - Line 4a
EDUCATIONAL COURSES - EDUCATIONAL PROGRAMS & SEMINARS ARE HELD THROUGHOUT VIRGINIA & DC TO EDUCATE INSURANCE PROFESSIONALS AND TO STIMULATE INTEREST IN INSURANCE ISSUES.
CONVENTIONS - CONVENTIONS ARE HELD TO EDUCATE INSURANCE PROFESSIONALS AS WELL AS MAINTAIN THEIR HIGH STANDARDS IN DEALING WITH CLIENTS.
ADMINISTRATIVE FEES AND OTHER PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Carla Jean Marks Immediate Past President | OfficerTrustee | 1 | $0 |
Joshua T Sojda President | OfficerTrustee | 1 | $0 |
Gerald F Hemphill National Director | Trustee | 1 | $0 |
Richard L Moore Secretary/treasurer | OfficerTrustee | 1 | $0 |
David L Comey Member | Trustee | 1 | $0 |
Joel K Frazier Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $131,112 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $11,067 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $142,179 |
| Total Program Service Revenue | $871,423 |
| Investment income | $871 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $39,709 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,054,211 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,067 |
| 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. | $132,707 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $208,128 |
| Pension plan accruals and contributions | $9,299 |
| Other employee benefits | $12,361 |
| Payroll taxes | $25,074 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $610 |
| Fees for services: Accounting | $7,285 |
| Fees for services: Lobbying | $228 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $8,205 |
| Information technology | $31,647 |
| Royalties | $0 |
| Occupancy | $37,717 |
| Travel | $5,360 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $376,181 |
| Interest | $43 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,199 |
| Insurance | $7,479 |
| All other expenses | $10,601 |
| Total functional expenses | $978,891 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $71,986 |
| Savings and temporary cash investments | $67,707 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,756 |
| 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 | $1,707 |
| Net Land, buildings, and equipment | $2,674 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,594 |
| Total assets | $152,424 |
| Accounts payable and accrued expenses | $27,991 |
| Grants payable | $0 |
| Deferred revenue | $97,444 |
| 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 | $53,947 |
| Total liabilities | $179,382 |
| Net assets without donor restrictions | -$26,958 |
| 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 | $152,424 |