Society Of Certified Insurance Counselors
- Assets
- $16.7m
- Revenue
- $12.6m
- Investments
- $5.0k
- Employees
- 106
- Location
- Austin, TX
- Founding
- 01/1976
- Data as of
- 12/2023
- EIN
- 74-1785679
Organization Overview
Society Of Certified Insurance Counselors is located in Austin, TX. The organization was established in 1976. According to its NTEE Classification (B03) the organization is classified as: Professional Societies & Associations, under the broad grouping of Education and related organizations. As of 12/2023, Society Of Certified Insurance Counselors employed 106 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Society Of Certified Insurance Counselors 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, Society Of Certified Insurance Counselors generated $12.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $13.9m during the year ending 12/2023. As we would expect to see with falling revenues, expenses have declined by (2.4%) per year over the past 9 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE QUALITY CONTINUING PROFESSIONAL EDUCATION TO ALL INSURANCE AND RISK MANAGEMENT PROFESSIONALS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SEMINAR AND INSTITUTE COSTS FOR THE EDUCATION OF CERTIFIEDINSURANCE COUNSELORS, CERTIFIED RISK MANAGERS, CERTIFIED PERSONAL RISK MANAGERS, AND CERTIFIED SCHOOL RISK MANAGERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Philip T Kramer CIC CPCU Immediate Past Chairman | Trustee | 5 | $0 |
Gabriel Gabe Portillo CIC Member-At-Large | Trustee | 5 | $0 |
Denise D Brown CIC CPCU Ains Aic Board Member | Trustee | 5 | $0 |
Jack H Elliott Jr CIC Cisr Sotp Vice Chairman | Trustee | 5 | $0 |
Chris Kerr CIC Cisr Member-At-Large | Trustee | 5 | $0 |
Travis Mcdavid CIC Board Member | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Outplex Client Support Services | 12/30/23 | $315,859 |
Qube Space Llp Contract It System Implementation Servic | 12/30/23 | $303,270 |
Marble Box Client Support Services | 12/30/23 | $158,700 |
Chetu Inc Contract It System Implementation Servic | 12/30/23 | $150,400 |
Jeffrey W Wodicka Curriculum Development, Speaker | 12/30/23 | $149,014 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $2,288,056 |
| 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 | $2,288,056 |
| Total Program Service Revenue | $9,150,034 |
| Investment income | $180,412 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $27,305 |
| Net Gain/Loss on Asset Sales | -$93,382 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $12,643,815 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $8,180 |
| 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 | $140,767 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,500 |
| Fees for services: Accounting | $50,017 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $37,595 |
| Fees for services: Other | $659,269 |
| Advertising and promotion | $413,538 |
| Office expenses | $637,201 |
| Information technology | $630,791 |
| Royalties | $0 |
| Occupancy | $136,486 |
| Travel | $4,561 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,571,689 |
| Interest | $127,683 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $619,742 |
| Insurance | $242,919 |
| All other expenses | $258,912 |
| Total functional expenses | $13,851,572 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $106,400 |
| Savings and temporary cash investments | $8,975,367 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,249,527 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $1,354 |
| Prepaid expenses and deferred charges | $369,022 |
| Net Land, buildings, and equipment | $5,913,312 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $4,995 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $66,530 |
| Total assets | $16,686,507 |
| Accounts payable and accrued expenses | $445,096 |
| Grants payable | $0 |
| Deferred revenue | $2,144,862 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $1,641,978 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $8,833,664 |
| Total liabilities | $13,065,600 |
| Net assets without donor restrictions | $3,620,907 |
| 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 | $16,686,507 |