Professional Independent Insurance Agents Of Colorado Inc
- Assets
- $2.7m
- Revenue
- $1.5m
- Investments
- $20.0k
- Employees
- 6
- Location
- Denver, CO
- Founding
- 03/1993
- Data as of
- 10/2022
- EIN
- 84-1203189
Organization Overview
Professional Independent Insurance Agents Of Colorado Inc, operating under the name Trusted Choice Ins Agents Of Colo, is located in Denver, CO. The organization was established in 1993. 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 10/2022, Trusted Choice Ins Agents Of Colo employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Trusted Choice Ins Agents Of Colo 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 10/2022, Trusted Choice Ins Agents Of Colo generated $1.5m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 0.1% each year. All expenses for the organization totaled $1.4m during the year ending 10/2022. While expenses have increased by 1.0% per year over the past 6 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
TO PROMOTE THE AGENCY SYSTEM AMONG THE INDEPENDENT INSURANCE AGENTS THROUGHOUT COLORADO, AND TO PROVIDE EDUCATIONAL AND OTHER RESOURCES TO STRENGTHEN PROFESSIONALISM IN THE INSURANCE INDUSTRY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ASSOCIATION SPONSORS VARIOUS CLASSES/SEMINARS WHICH ARE HELD TO EDUCATE MEMBERS ON NEW DEVELOPMENTS AND INDUSTRY TRENDS/PRODUCTS. THERE WERE 200 CLASSES AND WEBCASTS DURING THE YEAR, WITH TOTAL ATTENDANCE OF APPROXIMATELY 1,026 PEOPLE.
THE ASSOCIATION HELD A CONVENTION THIS YEAR TO ALLOW MEMBERS TO MEET AND DISCUSS TOPICS IMPORTANT TO THE INSURANCE INDUSTRY. THERE WERE 7 BREAKOUT SESSIONS OFFERED IN 1-3 HOUR SEGMENTS AS WELL AS A TRADE SHOW ATTENDED BY APPROXIMATELY 270 AGENTS.
PIIAC PUBLISHES THE "COIN" - COLORADO INSURANCE NEWS - TO PUBLICIZE TOPICS OF IMPORTANCE TO THE INSURANCE INDUSTRY, TO PROMOTE THE OPPORTUNITIES FOR AGENT EDUCATION, AND TO HELP KEEP MEMBERSHIP INFORMED OF LOCAL AND NATIONAL INDUSTRY DEVELOPMENTS. THE ASSOCIATION PUBLISHED THE COIN IN DIGITAL FORMAT, EMAILING TO APPROXIMATELY 7,700 ADDRESSES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bryan Bernier CEO | Officer | 40 | $328,600 |
Mike Adams Vice Chair | Trustee | 1 | $0 |
Gary Frisch State Nat. D | Trustee | 1 | $0 |
Eric Johnson Director | Trustee | 1 | $0 |
Vickie Park Secretary/tr | OfficerTrustee | 1 | $0 |
Saida Perez-Garrido Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $9,050 |
| 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 | $9,050 |
| Total Program Service Revenue | $742,110 |
| Investment income | $43,566 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $77,032 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $18,876 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,509,889 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $6,625 |
| 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. | $328,600 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $253,039 |
| Pension plan accruals and contributions | $34,622 |
| Other employee benefits | $24,400 |
| Payroll taxes | $36,051 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,530 |
| Fees for services: Accounting | $11,440 |
| Fees for services: Lobbying | $44,333 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $215,808 |
| Advertising and promotion | $23,189 |
| Office expenses | $6,623 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $217,108 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $173,175 |
| Interest | $425 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $18,650 |
| Insurance | $32,216 |
| All other expenses | $9,000 |
| Total functional expenses | $1,445,834 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $501,806 |
| Savings and temporary cash investments | $615,086 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $308,537 |
| 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 | $35,061 |
| Net Land, buildings, and equipment | $42,622 |
| Investments—publicly traded securities | $700,003 |
| Investments—other securities | $20,000 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $437,542 |
| Total assets | $2,660,657 |
| Accounts payable and accrued expenses | $104,522 |
| Grants payable | $0 |
| Deferred revenue | $240,818 |
| 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 | $411,875 |
| Total liabilities | $757,215 |
| Net assets without donor restrictions | $1,739,556 |
| Net assets with donor restrictions | $163,886 |
| 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 | $2,660,657 |