Insurance Alliance Of Michigan
- Assets
- $700.2k
- Revenue
- $2.2m
- Investments
- $0.0
- Employees
- 4
- Location
- Lansing, MI
- Founding
- 12/2003
- Data as of
- 12/2022
- EIN
- 61-1443133
Organization Overview
Insurance Alliance Of Michigan is located in Lansing, MI. The organization was established in 2003. 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, Insurance Alliance Of Michigan employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Insurance Alliance Of Michigan 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, Insurance Alliance Of Michigan generated $2.2m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 11.1% each year . All expenses for the organization totaled $2.3m during the year ending 12/2022. While expenses have increased by 11.8% 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
REPRESENTING PROPERTY AND CASUALTY INSURANCE COMPANIES THAT DO BUSINESS IN MICHIGAN ON MATTERS OF LEGISLATIVE AND REGULATORY CONCERN.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REPRESENTATION OF MEMBERSHIP REGARDING LEGISLATIVE AND REGULATORY MATTERS IN MICHIGAN. ORGNIZATION ALSO HELPS THE PUBLIC GET A BETTER UNDERSTANDING OF INSURANCE PRINCIPLES THROUGH PUBLIC RELATIONS AND PUBLIC EDUCATION PROGRAMS.
REPRESENTATION OF MEMBERSHIP REGARDING LEGISLATIVE AND REGULATORY MATTERS IN MICHIGAN. ORGNIZATION ALSO HELPS THE PUBLIC GET A BETTER UNDERSTANDING OF INSURANCE PRINCIPLES THROUGH PUBLIC RELATIONS AND PUBLIC EDUCATION PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erin Mcdonough Executive Di | Officer | 40 | $204,000 |
Dyck Van Koevering General Coun | Officer | 40 | $152,055 |
Rob Anderson Board Member | Trustee | 1 | $0 |
Natalie Brunson-Wheeler Board Chair | OfficerTrustee | 1 | $0 |
Diane Chapman Board Member | Trustee | 1 | $0 |
Chris Cleveland Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $1,484,104 |
| 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 | $1,484,104 |
| Total Program Service Revenue | $689,761 |
| Investment income | $1,155 |
| 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 | $2,187,753 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $464,500 |
| 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 | $435,031 |
| Pension plan accruals and contributions | $41,921 |
| Other employee benefits | $78,324 |
| Payroll taxes | $28,474 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $47,964 |
| Fees for services: Accounting | $16,480 |
| Fees for services: Lobbying | $138,791 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $93,525 |
| Advertising and promotion | $8,106 |
| Office expenses | $9,889 |
| Information technology | $18,894 |
| Royalties | $0 |
| Occupancy | $55,182 |
| Travel | $24,474 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $73,756 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $43,309 |
| Insurance | $8,008 |
| All other expenses | $0 |
| Total functional expenses | $2,282,865 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,300 |
| Savings and temporary cash investments | $594,847 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $70,771 |
| 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 | $1,250 |
| 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 | $700,168 |
| Accounts payable and accrued expenses | $94,740 |
| Grants payable | $0 |
| Deferred revenue | $121,090 |
| 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 | $18,177 |
| Total liabilities | $234,007 |
| Net assets without donor restrictions | $466,161 |
| 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 | $700,168 |
Grants Awarded
Over the last fiscal year, Insurance Alliance Of Michigan has awarded $459,500 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
JUDICIAL INTEGRITY PROJECT | | | $40,000 |
ROAD TO MICHIGAN'S FUTURE | | | $15,000 |
MICHIGAN CHAMBER OF COMMERCE | | | $295,000 |
JOBS FOR MICHIGAN COUNCIL | | | $57,250 |
PRESERVE MICHIGAN'S FUTURE FUND | | | $52,250 |