Latin American Association Of Insurance Agencies National Assoc
- Assets
- $511.3k
- Revenue
- $819.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Miami, FL
- Founding
- 07/1975
- Data as of
- 12/2023
- EIN
- 59-1545691
Organization Overview
Latin American Association Of Insurance Agencies National Assoc, operating under the name Insurance Agencies National As, is located in Miami, FL. The organization was established in 1975. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, 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. Insurance Agencies National As 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 12/2023, Insurance Agencies National As generated $819.9k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $857.8k during the year ending 12/2023. While expenses have increased by 3.1% per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE LATIN AMERICAN ASSOCIATION OF INSURANCE AGENCIES IS AN ASSOCIATION OF INSURANCE PROFESSIONALS WHOSE PURPOSE IS TO PROTECT THE RIGHTS OF ITS MEMBERS FOR THE BENEFIT OF THE CONSUMER THROUGH EDUCATION, INFORMATION, NETWORKING, AND ACTIVE PARTICIPATION IN THE POLITICAL ENVIRONMENT AND COMMUNITY SERVICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ANNUAL CONVENTION: HELD FOR A PERIOD OF 5 DAYS. ITS PURPOSE INCLUDES SUPPORTING AND ENHANCING ACTIVITIES WITHIN THE INDUSTRY, ACTION AS A SPOKESPERSON FOR THE INDUSTRY, PROVIDING MEMBERS WITH CURRENT INFORMATION ON TECHNICAL DEVELOPMENTS, TRAINING METHODS, AND ECONOMIC ISSUES, ENCOURAGING AND FOSTERING HIGHER SAFETY AND TECHNICAL STANDARDS, PROMOTING TECHNOLOGICAL ADVANCEMENTS AND IMPROVEMENTS, AND GATHERING AND DISSEMINATING INFORMATION ABOUT MARKETS AND PRODUCTS.
CHARITABLE ACTIVITIES: PHILANTHROPIC AND CIVIC MINDED, LAAIA SUPPORTS ITS COMMUNITY THROUGH CHARITABLE ACTS LIKE THE TOYS FOR CHILDREN CAMPAIGN AND CONTRIBUTIONS TO OTHER COMMUNITY CHARITABLE ORGANIZATIONS.
MONTHLY EVENTS: MONTHLY MEETING DINNERS HELD DEVOTED TO DISCUSSION, REVIEW, AND CONSIDERATION OF THE VARIOUS PROBLEMS IN THE INDUSTRY AND DIRECTED TO THE IMPROVEMENT OF BUSINESS CONDITIONS AS A WHOLE. RELATED INDUSTRY SPEAKERS WERE INVITED TO SPEAK ABOUT THE RELATED TOPICS AND OFFERED WAYS TO OVERCOME ISSUES PRESENTED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
David Hand Director | Trustee | 1 | $0 |
Shelby Morena Director | Trustee | 1 | $0 |
Barry Sanders Director | Trustee | 1 | $0 |
Rudy Valdez Diaz Director | Trustee | 1 | $0 |
Jason Grodensky Director | Trustee | 1 | $0 |
Maria Fisk Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $110,935 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $705,129 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $816,064 |
| Total Program Service Revenue | $0 |
| Investment income | $3,816 |
| 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 | $819,880 |
| 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 | $185,279 |
| Fees for services: Legal | $3,084 |
| Fees for services: Accounting | $28,910 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $2,125 |
| Advertising and promotion | $2,529 |
| Office expenses | $35,901 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,972 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $477,044 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $6,026 |
| All other expenses | $3,860 |
| Total functional expenses | $857,751 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $408,454 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $81,837 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $8,481 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $10,000 |
| Net Land, buildings, and equipment | $553 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,000 |
| Total assets | $511,325 |
| Accounts payable and accrued expenses | $5,000 |
| 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 | $149,600 |
| Total liabilities | $154,600 |
| Net assets without donor restrictions | $356,725 |
| 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 | $511,325 |
Grants Awarded
Over the last fiscal year, Latin American Association Of Insurance Agencies National Assoc has awarded $35,000 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
JACKSON MEMORIAL FOUNDATION PURPOSE: CONTRIBUTION FOR THE CHILD LIFE PROGRAM | $30,500 |
RAYBORN FAMILY FUNDRAISER PURPOSE: CONTRIBUTION TRAGIC PASSING OF THE RAYBORN;S DAUGHTER ASLEY. | $500 |
LIVE LIKE BELLA PURPOSE: CONTRIBUTION FOR THE CHARITY ORGANIZATION'S PURPOSE | $4,000 |