Nevada Surplus Lines Foundation

Organization Overview

Nevada Surplus Lines Foundation is located in Reno, NV. According to its NTEE Classification (S11) the organization is classified as: Single Organization Support, under the broad grouping of Community Improvement & Capacity Building and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Nevada Surplus Lines Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.

For the year ending 12/2022, Nevada Surplus Lines Foundation generated $2.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (12.1%) each year.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE FOUNDATION IS ORGANIZED EXCLUSIVELY FOR CHARITABLE, RELIGIOUS, EDUCATIONAL SCIENTIFIC AND LITERARY OBJECTIVES AND PURPOSES WITHIN THE MEANING OF SECTION 501(C)3 OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE").

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE FOUNDATION WILL PROVIDE FUNDS FOR PROGRAMS AND ACTIVITIES TO SUPPORT ACHIEVEMENT AND SKILL DEVELOPMENT WITHIN THE INSURANCE INDUSTRY. THE FOUNDATION WILL CONSIDER DONATIONS AND GRANTS TO INDIVIDUALS AND ORGANIZATIONS THAT WILL ENCOURAGE INTEREST AND EMPLOYMENT OPPORTUNITIES WITHIN THE BUSINESS COMMUNITY. THE GOAL OF THE FOUNDATION IS TO PERPETUATE EMPLOYMENT AND INTEREST WITHIN THE INSURANCE INDUSTRY. THE RECIPIENTS MUST PRESENT A REQUEST FOR FUNDS IN WRITING, INCLUDING A DETAILED DESCRIPTION OF HOW THE FUNDS WILL BE USED, TIMELINES IF APPLICABLE, AND AGREE TO PROVIDE STATUS REPORTS IF REQUESTED. THE FOUNDATION BOARD OF DIRECTORS WILL REVIEW THE REQUESTS AND MAKE A DETERMINATION BASED ON THE AMOUNT OF THE REQUEST, IF THE ENTITY OR INDIVIDUAL WILL BE USING THE FUNDS FOR EDUCATION OR CHARITABLE REASONS, AND TO SUPPORT ACHIEVEMENT AND SKILL DEVELOPMENT IN THE INSURANCE INDUSTRY.


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Board, Officers & Key Employees

Name (title)Compensation
Nick Rossi
Chairman
$0
Steve Wilkins
Vice-Chairma
$0
Cindy Fleischer
Secretary/tr
$0
Thomas F Kerestesi
Director
$0
John Drakulich
Director
$0
Greg Mckinley
Director
$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$2,168,865
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$2,168,865
Total Program Service Revenue$0
Investment income $359,721
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales -$103,999
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $2,424,587

Grants Awarded

Over the last fiscal year, Nevada Surplus Lines Foundation has awarded $309,620 in support to 2 organizations.

Grant RecipientAmount

UNLV FOUNDATION

PURPOSE: PUBLIC EDUCATION

$144,760

UNR FOUNDATION

PURPOSE: PUBLIC EDUCATION

$164,860
View Grant Profile

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