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.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amberlyn Mcquary President Elect | OfficerTrustee | 2 | $0 |
Duane Henson Secretary | OfficerTrustee | 1 | $0 |
Melissa Power President | OfficerTrustee | 2 | $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 |