Property Insurance Association Of Louisiana
- Assets
- $13.5m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 30
- Location
- Metairie, LA
- Founding
- 08/1950
- Data as of
- 12/2021
- EIN
- 72-0246020
Organization Overview
Property Insurance Association Of Louisiana is located in Metairie, LA. The organization was established in 1950. 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, Property Insurance Association Of Louisiana employed 30 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Property Insurance Association Of Louisiana 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, Property Insurance Association Of Louisiana generated $6.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $5.1m 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 & MAINTAIN A HEALTHY & COMPETITIVE PROPERTY INSURANCE MARKET IN THE STATE OF LA FOR THE BENEFIT OF THE INSURING PUBLIC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PURSUANT TO ITS STATUTORY AUTHORITY UNDER LOUISIANA R.S. 22:1460, THE ASSOCIATION IS DEDICATED TO PROMOTING AND MAINTAINING A HEALTHY AND COMPETITIVE PROPERTY INSURANCE MARKET IN THE STATE OF LOUISIANA FOR THE BENEFIT OF THE INSURING PUBLIC.DURING 2021, PROPERTY INSURANCE ASSOCIATION OF LOUISIANA FILED A TOTAL OF 25 RATE, RULE AND FORM FILINGS; COMPLETED 135 GRADINGS OF FIRE DEPARTMENT CAPABILITIES AND CONDUCTED 44 P-1 GAP MEETINGS WITH FIRE DEPARTMENTS THROUGH ITS GRADING ASSISTANCE PROGRAM TO HELP DEPARTMENTS IMPROVE THEIR GRADES AND PARTICIPATED IN 2 FIRE CHIEF CONFERENCES; AND, CONDUCTED INSPECTIONS OF 2,743 COMMERCIAL BUILDINGS IN LOUISIANA AND PROVIDED THE RESULTS THEREOF TO MEMBERS, COMPANIES, AND THEIR AGENTS. THE PRICING DIVISION ALSO CONDUCTED 390 COMMERCIAL BUILDING INSPECTIONS IN LA FOR ISO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
A J Herbert III Executive Director/secreta | Officer | 40 | $241,690 |
Blaine Rabe Public Protection Div Mana | 40 | $122,506 | |
Todd Maddox Pricing Div Manager | 40 | $110,015 | |
Alliott Green It Manager | 40 | $100,725 | |
Edie Koonce Hr & Finance Manager | Officer | 40 | $99,183 |
Joe O'connor Chair | OfficerTrustee | 0.2 | $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 | $5,063,935 |
| Investment income | $4,688 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $23,931 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,013,264 |
| 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. | $382,223 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,569,350 |
| Pension plan accruals and contributions | $270,912 |
| Other employee benefits | $367,635 |
| Payroll taxes | $135,366 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $74,205 |
| Fees for services: Accounting | $19,100 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,468,613 |
| Advertising and promotion | $0 |
| Office expenses | $97,778 |
| Information technology | $267,716 |
| Royalties | $0 |
| Occupancy | $136,058 |
| Travel | $33,511 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $12,918 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $141,750 |
| Insurance | $136,254 |
| All other expenses | $1 |
| Total functional expenses | $5,113,390 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,326,759 |
| Savings and temporary cash investments | $4,850 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $3,535 |
| 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 | $159,881 |
| Net Land, buildings, and equipment | $685,875 |
| Investments—publicly traded securities | $8,249,593 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,098,141 |
| Total assets | $13,528,634 |
| Accounts payable and accrued expenses | $43,074 |
| 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 | $2,187,676 |
| Total liabilities | $2,230,750 |
| Net assets without donor restrictions | $11,297,884 |
| 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 | $13,528,634 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Property Insurance Association Of Louisiana Metairie, LA | $13,528,634 | $6,013,264 |
Independent Insurance Agents Of Texas Austin, TX | $16,269,345 | $3,665,225 |
Society Of Certified Insurance Service Representatives Inc Austin, TX | $3,983,502 | $3,156,813 |
American Securities Association Dallas, TX | $782,054 | $1,666,002 |
Independent Insurance Agents And Brokers Of Louisiana Inc Baton Rouge, LA | $9,967,133 | $1,762,629 |
Towing Vessel Inspection Bureau Channelview, TX | $576,720 | $901,588 |
High Plains Retreat Center Canyon, TX | $2,132,312 | $562,156 |
Building Industry Association Of The Highland Lakes Marble Falls, TX | $238,469 | $208,667 |
Texas Association Of Benefit Administrators Plano, TX | $78,280 | $122,254 |
Historic District Business Association Inc Natchitoches, LA | $806,341 | $264,233 |
Risk & Insurance Management Society Houston, TX | $152,111 | $0 |
American Rainwater Catchment Systems Association Flower Mound, TX | $135,449 | $0 |