Texas Automobile Insurance Plan Association 010195
- Assets
- $773.6k
- Revenue
- $756.6k
- Investments
- $0.0
- Employees
- 4
- Location
- Austin, TX
- Founding
- 03/1953
- Data as of
- 12/2022
- EIN
- 74-2728185
Organization Overview
Texas Automobile Insurance Plan Association 010195 is located in Austin, TX. The organization was established in 1953. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2022, Texas Automobile Insurance Plan Association 010195 employed 4 individuals. This organization is the central organization for a national or regional group of organizations. Texas Automobile Insurance Plan Association 010195 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, Texas Automobile Insurance Plan Association 010195 generated $756.6k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.5%) each year. All expenses for the organization totaled $794.6k during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (2.0%) per year over the past 8 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION IS TO PROVIDE A MEANS FOR PEOPLE WHO ARE REQUIRED TO SHOW PROOF OF FINANCIAL RESPONSIBILITY TO OBTAIN AUTOMOBILE INSURANCE LIABILITY COVERAGE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION HAS ESTABLISHED PROCEDURES FOR THE EQUITABLE DISTRIBUTION OF APPLICATIONS FOR INSURANCE TO BE ASSIGNED TO THE INSURANCE COMPANIES. ALL INSURANCE COMPANIES WHO ARE AUTHORIZED TO WRITE MOTOR VEHICLE LIABILITY POLICIES IN THE STATE OF TEXAS MUST BE MEMBERS OF THE ASSOCIATION AND PARTICIPATE IN RECEIVING THEIR SHARE OF THE INSURANCE RISKS ASSOCIATED WITH THE ORGANIZATION AND MUST PARTICIPATE IN PAYING THEIR SHARE OF THE EXPENSES INCURRED BY THE ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mary Carol Awalt Public Member | Trustee | 0.5 | $2,000 |
Laura Hausman Public Member; Employee Liason | Trustee | 0.5 | $750 |
Carmelita Hogan Public Member | Trustee | 0.5 | $1,000 |
Becky Jackson Chair | OfficerTrustee | 0.5 | $2,250 |
Leslie Hurley Public Member (until 04/28/2022) | Trustee | 0.5 | $250 |
David Nardecchia Public Member | Trustee | 0.5 | $750 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $748,893 |
| 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 | $748,893 |
| Total Program Service Revenue | $0 |
| Investment income | $4,032 |
| 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 | $756,643 |
| 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. | $178,909 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $178,940 |
| Pension plan accruals and contributions | $41,645 |
| Other employee benefits | $40,393 |
| Payroll taxes | $25,011 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $46,229 |
| Fees for services: Accounting | $17,793 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $93,034 |
| Advertising and promotion | $0 |
| Office expenses | $12,874 |
| Information technology | $12,708 |
| Royalties | $0 |
| Occupancy | $102,282 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,265 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,862 |
| Insurance | $0 |
| All other expenses | $3,206 |
| Total functional expenses | $794,616 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $34,528 |
| Savings and temporary cash investments | $399,725 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,769 |
| 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 | $73,105 |
| Net Land, buildings, and equipment | $4,480 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $259,946 |
| Total assets | $773,553 |
| Accounts payable and accrued expenses | $118,809 |
| 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 | $252,609 |
| Total liabilities | $371,418 |
| Net assets without donor restrictions | $402,135 |
| 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 | $773,553 |