Florida Insurance Fraud Education Committee
- Assets
- $97.6k
- Revenue
- $317.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Ponte Vedra Beach, FL
- Founding
- 09/1999
- Data as of
- 07/2022
- EIN
- 59-3427715
Organization Overview
Florida Insurance Fraud Education Committee, operating under the name Fifec, is located in Ponte Vedra Beach, FL. The organization was established in 1999. According to its NTEE Classification (A99) the organization is classified as: Arts, Culture & Humanities N.E.C., under the broad grouping of Arts, Culture & Humanities and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Fifec is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 07/2022, Fifec generated $317.5k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $285.0k during the year ending 07/2022. While expenses have increased by 1.7% per year over the past 7 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
PROVIDE AN ANNUAL CONFERENCE IN WHICH NUMEROUS EDUCATIONAL COURSES ARE PROVIDED TO LAW ENFORCEMENT AND INSURANCE INDUSTRY PERSONNEL ON DETECTION, INVESTIGATION, PROSECUTION AND PREVENTION OF INSURANCE FRAUD. PROVIDE GRANTS TO LAW ENFORCEMENT PERSONNEL WHO OTHERWISE WOULD BE UNABLE TO ATTEND DUE TO THEIR AGENCIES BUDGETS
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION PUTS ON AN ANNUAL CONFERENCE EACH YEAR CONSISTING OF APPROXIMATELY 60 COURSES RELATED TO INSURANCE FRAUD FOR THE BENEFIT OF LAW ENFORCEMENT AND OTHER PERSONS INVOLVED IN THE DETECTION, INVESTIGATION, PROSECUTION AND PREVENTION OF FRAUDULENT INSURANCE CLAIMS. THIS CONFERENCE IS ATTENDED BY UP TO 1200 INDIVIDUALS, INCLUDING OVER 100 WHO ATTEND ON GRANTS AND/OR WAIVERS OF REGISTRATION FEES PROVIDED BY THE ORGANIZATION. THIS IS THE ONLY PROGRAM SERVICE THE ORGANIZATION IS INVOLVED IN AND IT TAKES ALL YEAR AND THOUSANDS OF VOLUNTEER HOURS TO PREPARE AND CARRY OUT THE CONFERENCE. THE ORGANIZATION DOES NOT HAVE ANY PAID EMPLOYEES OR EXECUTIVE DIRECTOR BECAUSE IT IS RUN BY VOLUNTEERS. THE REGISTRATION FEES ARE KEPT VERY REASONABLE, ALLOWING MORE PEOPLE TO ATTEND. IT HAS GAINED THE REPUTATION IN THE INDUSTRY AS THE BEST INSURANCE FRAUD CONFERENCE IN THE COUNTRY AND IS ATTENDED BY PEOPLE FROM MANY DIFFERENT STATES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Elizabeth Somers Director (compensated As Webmaster) | Trustee | 5 | $7,200 |
Jesus Alvarez Chair & Director (3 Positions) | OfficerTrustee | 20 | $0 |
Janice Young Secretary And Director (2 Positions) | OfficerTrustee | 5 | $0 |
Marilyn O'brien Vice Chair & Director | OfficerTrustee | 5 | $0 |
Eddie Lopez Co-Chair | Officer | 5 | $0 |
George Meyer Treasurer | Officer | 5 | $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 | $2,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,000 |
| Total Program Service Revenue | $315,502 |
| Investment income | $5 |
| 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 | $317,507 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $11,305 |
| 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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $15,459 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $6,481 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $244,184 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,080 |
| Insurance | $6,120 |
| All other expenses | $0 |
| Total functional expenses | $284,993 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,308 |
| Savings and temporary cash investments | $70,053 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,000 |
| 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 | $5,239 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $97,600 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $250 |
| 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 | $250 |
| Net assets without donor restrictions | $97,350 |
| 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 | $97,600 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
South Arts Inc Atlanta, GA | $7,711,292 | $5,611,811 |
Central Florida Community Arts Inc Orlando, FL | $1,775,519 | $1,587,078 |
Acorn Center For Restoration And Freedom Inc Covington, GA | $134,681 | $1,087,049 |
South Fulton Institute Inc Atlanta, GA | $1,909,108 | $891,815 |
St Petersburg Warehouse Arts District Inc Saint Petersburg, FL | $4,246,537 | $1,210,830 |
El Espacio 23 Inc Miami, FL | $6,319,448 | $659,257 |
Gadsden Arts Inc Quincy, FL | $3,309,221 | $583,615 |
Repurpose Project Gainesville, FL | $1,065,562 | $834,868 |
Artfest Fort Myers Inc Fort Myers, FL | $264,384 | $469,990 |
Handweavers Guild Of America Inc Atlanta, GA | $1,090,447 | $477,241 |
Hub On Canal Inc New Smyrna Beach, FL | $1,198,178 | $493,305 |
Cisneros Fontanals Foundation For The Arts Miami, FL | $7,132 | $430,753 |