Florida Insurance Council Inc
- Assets
- $1.4m
- Revenue
- $1.8m
- Investments
- $0.0
- Employees
- 3
- Location
- Tallahassee, FL
- Founding
- 05/1996
- Data as of
- 12/2021
- EIN
- 59-0996633
Organization Overview
Florida Insurance Council Inc is located in Tallahassee, FL. The organization was established in 1996. 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 12/2021, Florida Insurance Council Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida Insurance Council 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 12/2021, Florida Insurance Council Inc generated $1.8m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.7% each year. All expenses for the organization totaled $1.6m during the year ending 12/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE THE INSURANCE INDUSTRY IN THE STATE OF FLORIDA THROUGH EDUCATION, PUBLIC RELATIONS, AND LEGISLATIVE AND REGULATORY REPRESENTATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEMINARS AND WORKSHOPS - ENABLE THE COUNCIL TO EDUCATE ITS MEMBERSAND THE GENERAL PUBLIC ON ISSUES IMPACTING THE INSURANCE INDUSTRY.
SPECIAL PROJECTS - ENABLE THE COUNCIL TO BECOME INVOLVED INSPECIAL PROJECTS THAT ARE OF INTEREST TO ITS MEMBERS AND ARERELATED TO LEGISLATIVE AND REGULATORY CHANGES AFFECTING THEINSURANCE INDUSTRY IN FLORIDA.
ANNUAL CONFERENCE - ENABLE THE COUNCIL TO PROMOTE THE INSURANCEINDUSTRY IN FLORIDA THROUGH EDUCATION, PUBLIC RELATIONS, ANDLEGISLATIVE AND REGULATORY REPRESENTATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Cecil L Pearce President | OfficerTrustee | 40 | $381,000 |
Katrina Callaway General Counsel | 40 | $211,938 | |
Brent Brummer Director | Trustee | 1 | $0 |
Kevin Comerer Director | Trustee | 1 | $0 |
Shannon Anderson Director (partial Year) | Trustee | 1 | $0 |
Michael R Cratem Director | Trustee | 1 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Floridian Partners Llc Consulting Services | 12/30/19 | $164,180 |
Paul P Sanford & Associates Consulting Services | 12/30/19 | $123,712 |
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 | $1,808,822 |
| Investment income | $628 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $7,213 |
| 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 | $1,816,663 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $10,750 |
| 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. | $400,408 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $275,623 |
| Pension plan accruals and contributions | $8,449 |
| Other employee benefits | $63,971 |
| Payroll taxes | $31,544 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $8,655 |
| Fees for services: Accounting | $32,095 |
| Fees for services: Lobbying | $468,677 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,391 |
| Advertising and promotion | $0 |
| Office expenses | $24,894 |
| Information technology | $216 |
| Royalties | $0 |
| Occupancy | $69,393 |
| Travel | $47,283 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $64,103 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $32 |
| Insurance | $16,590 |
| All other expenses | $0 |
| Total functional expenses | $1,576,718 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,209,561 |
| Savings and temporary cash investments | $167,289 |
| 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 | $17,300 |
| Net Land, buildings, and equipment | $582 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $4,800 |
| Total assets | $1,399,532 |
| Accounts payable and accrued expenses | $40,968 |
| Grants payable | $0 |
| Deferred revenue | $387,374 |
| 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 | $428,342 |
| Net assets without donor restrictions | $971,190 |
| 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 | $1,399,532 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Florida Insurance Council Inc has recieved totaling $5,500.
| Awarding Organization | Amount |
|---|---|
American Property Casualty Insurance Association Chicago, IL PURPOSE: CONTRIBUTIONS | $5,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Florida Association Of Insurance Agents Tallahassee, FL | $18,623,782 | $7,878,406 |
League Of Southeastern Credit Unions Tallahassee, FL | $39,760,758 | $6,559,105 |
Florida Insurance Council Inc Tallahassee, FL | $1,399,532 | $1,816,663 |
East Alabama Board Of Realtors Inc Phenix City, AL | $1,180,548 | $585,602 |
National Association Of Insurance Women Atlanta, GA | $663,265 | $416,354 |
Ceo Council Of Tampa Bay Inc Tampa, FL | $654,978 | $478,941 |
American Risk & Insurance Assn Inc Belleair Bluffs, FL | $1,120,789 | $313,453 |
Medical Staff Of Blake Medical Center Inc Bradenton, FL | $717,003 | $183,944 |
Nurse Practitioner Alliance Of Alabama Birmingham, AL | $116,728 | $0 |
Midway Canaan Community Water Association Inc Sanford, FL | $156,710 | $231,413 |
Georgia Association Of Woodturners Inc Winston, GA | $60,610 | $0 |
Atlanta Chapter Of The Cpcu Society Inc Atlanta, GA | $255,433 | $0 |