Florida Automobile Joint Underwriting Association
- Assets
- $4.6m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 4
- Location
- Johnston, RI
- Founding
- 09/1975
- Data as of
- 09/2021
- EIN
- 59-1514873
Organization Overview
Florida Automobile Joint Underwriting Association is located in Johnston, RI. The organization was established in 1975. 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 09/2021, Florida Automobile Joint Underwriting Association employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Florida Automobile Joint Underwriting Association 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 09/2021, Florida Automobile Joint Underwriting Association generated $3.0m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.2%) each year. All expenses for the organization totaled $5.4m during the year ending 09/2021. As we would expect to see with falling revenues, expenses have declined by (0.7%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PLACEMENT OF AUTOMOBILE INSURANCE FOR THOSE UNABLE TO OBTAIN COVERAGE IN THE VOLUNTARY MARKET.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PLACEMENT OF AUTOMOBILE INSURANCE FOR THOSE UNABLE TO OBTAIN COVERAGE IN THE VOLUNTARY MARKET.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Lisa Stoutamire General Manager | Officer | 45 | $166,043 |
Timothy Zdrazil Underwriter | 40 | $105,599 | |
Name Not Listed Gov Comm Member | Trustee | 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 | $2,988,156 |
| Investment income | $23,012 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| 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 | $3,014,358 |
| 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. | $258,480 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $199,451 |
| Pension plan accruals and contributions | $67,621 |
| Other employee benefits | -$58,736 |
| Payroll taxes | $26,455 |
| Fees for services: Management | $174,754 |
| Fees for services: Legal | $285,654 |
| Fees for services: Accounting | $115,001 |
| Fees for services: Lobbying | $9,972 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $4,464 |
| Advertising and promotion | $0 |
| Office expenses | $27,887 |
| Information technology | $11,692 |
| Royalties | $0 |
| Occupancy | $46,632 |
| Travel | $454 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $19,014 |
| All other expenses | $246,865 |
| Total functional expenses | $5,350,696 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | -$82,903 |
| Savings and temporary cash investments | $4,161,137 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $556,419 |
| 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 | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,634,653 |
| Accounts payable and accrued expenses | $641,122 |
| 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 | $6,141,297 |
| Total liabilities | $6,782,419 |
| Net assets without donor restrictions | $0 |
| 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 | -$2,147,766 |
| Total liabilities and net assets/fund balances | $4,634,653 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Automobile Insurers Bureau Of Massachusetts Boston, MA | $2,744,805 | $12,244,779 |
Florida Automobile Joint Underwriting Association Johnston, RI | $4,634,653 | $3,014,358 |
Guaranty Fund Management Services Inc Boston, MA | $2,796,356 | $6,554,035 |
Massachussetts Association Of Insurance Agents Inc Milford, MA | $15,366,665 | $4,849,036 |
Spark Institute Inc Simsbury, CT | $3,290,502 | $1,638,817 |
New England Venture Capital Association Boston, MA | $646,972 | $792,153 |
Independent Insurance Agents Of Rhode Island Warwick, RI | $2,326,511 | $759,864 |
Eastern Millwright Regional Council Labor Management Fund Framingham, MA | $6,487,763 | $1,424,893 |
Hbs Health Industry Alumni Association Inc Sudbury, MA | $468,574 | $225,408 |
Duxbury American Legion Post 223 Duxbury, MA | $448,872 | $0 |
International Melges 24 Class Association Inc Rocky Hill, CT | $33,521 | $0 |
Holy Family Hospital Medical Staff Association Inc Methuen, MA | $267,027 | $0 |