Independent Insurance Agents Of Washington
- Assets
- $967.9k
- Revenue
- $282.7k
- Investments
- -$384.3k
- Employees
- 0
- Location
- Bellevue, WA
- Founding
- 12/1935
- Data as of
- 08/2021
- EIN
- 91-6033271
Organization Overview
Independent Insurance Agents Of Washington is located in Bellevue, WA. The organization was established in 1935. According to its NTEE Classification (Y20) the organization is classified as: Insurance Providers, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Independent Insurance Agents Of Washington 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 08/2021, Independent Insurance Agents Of Washington generated $282.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $284.2k during the year ending 08/2021. As we would expect to see with falling revenues, expenses have declined by (1.1%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
IIABW IS A NOT-FOR-PROFIT ENTITY THAT PROMOTES THE AMERICAN INSURANCE AGENCY SYSTEM AMONG WASHINGTON STATE INSURANCE AGENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IIABW IS HAVING CONTINUED SUCCESS IN THE PROCESS OF EDUCATING ITS MEMBERS REGARDING NEW DEVELOPMENTS IN THE INSURANCE INDUSTRY AND NEW REGULATIONS AND LEGISLATIVE RULINGS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Melissa Power President | OfficerTrustee | 2 | $0 |
Amberlyn Mcquary President Elect | OfficerTrustee | 2 | $0 |
Duane Henson Secretary | OfficerTrustee | 1 | $0 |
Craig Field Treasurer | OfficerTrustee | 1 | $0 |
Lori Reed National Director | OfficerTrustee | 1 | $0 |
Daniel T Holst Executive VP | Officer | 40 | $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 | $21,868 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $21,868 |
| Total Program Service Revenue | $242,532 |
| Investment income | $18,290 |
| 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 | $282,690 |
| 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. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $86,446 |
| Pension plan accruals and contributions | $5,630 |
| Other employee benefits | $10,544 |
| Payroll taxes | $7,570 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $10,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,269 |
| Fees for services: Other | $78,465 |
| Advertising and promotion | $0 |
| Office expenses | $6,820 |
| Information technology | $3,783 |
| Royalties | $0 |
| Occupancy | $14,110 |
| Travel | $1,443 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $27,022 |
| Interest | $0 |
| Payments to affiliates | $11,810 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $4,895 |
| All other expenses | $0 |
| Total functional expenses | $284,202 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $12,379 |
| Savings and temporary cash investments | $25,660 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $8,416 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $744,967 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $7,633 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $553,214 |
| Investments—other securities | -$384,325 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $967,944 |
| Accounts payable and accrued expenses | $14,843 |
| Grants payable | $0 |
| Deferred revenue | $1,551 |
| 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 | $0 |
| Total liabilities | $16,394 |
| Net assets without donor restrictions | $951,550 |
| 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 | $967,944 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Independent Insurance Agents Of Washington has recieved totaling $5,000.
| Awarding Organization | Amount |
|---|---|
Iiaa Education Foundation Alexandria, VA PURPOSE: TO PROVIDE DISASTER ASSISTANCE DURING TIMES OF CRISIS | $5,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Washington Counties Insurance Fund Tumwater, WA | $12,803,774 | $66,207,996 |
Power Engineers Inc Employee Benefit Plan Hailey, ID | $6,741,524 | $36,639,487 |
Carrix Inc Benefits Trust Seattle, WA | $13,678,947 | $20,538,875 |
United Employees Benefit Trust Tacoma, WA | $48,936,771 | $25,801,114 |
Oregon Processors Employees Trust Portland, OR | $10,788,893 | $16,907,062 |
San Diego City Employees Retiree Medical Trust Spokane, WA | $249,053,704 | $31,450,538 |
Washington Life And Disability Guaranty Association Shelton, WA | $17,623,213 | $10,170,457 |
Roofers-49 Welfare Fund Portland, OR | $18,594,666 | $10,766,232 |
Washington Surveying & Rating Bureau Renton, WA | $7,711,093 | $10,036,683 |
Paradigm Indemnity Corporation Corvallis, OR | $60,433,945 | $10,885,201 |
Hagadone Employee Benefit Trust Coeur Dalene, ID | $293,742 | $6,679,723 |
Apartment Employees Welfare Fund Seattle, WA | $5,477,744 | $6,534,681 |