Escrow Agents Fidelity Corporation Of California

Organization Overview

Escrow Agents Fidelity Corporation Of California is located in Los Angeles, CA. The organization was established in 1984. According to its NTEE Classification (J99) the organization is classified as: Employment N.E.C., under the broad grouping of Employment and related organizations. As of 06/2022, Escrow Agents Fidelity Corporation Of California employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Escrow Agents Fidelity Corporation Of California 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 06/2022, Escrow Agents Fidelity Corporation Of California generated $1.4m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $1.1m during the year ending 06/2022. While expenses have increased by 1.5% per year over the past 7 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2022

Describe the Organization's Mission:

Part 3 - Line 1

THE PURPOSE OF ESCROW AGENTS' FIDELITY CORPORATION IS TO INDEMNIFY MEMBERS AGAINST LOSS OF TRUST OBLIGATIONS HELD BY A MEMBER AS A RESULT OF THE FRAUDULENT OR DISHONEST ABSTRACTION, MISAPPROPRIATION, OR EMBEZZLEMENT OF TRUST OBLIGATIONS.

Describe the Organization's Program Activity:

Part 3 - Line 4a

THE OPERATIONS FUND ASSESSMENT USING A FORMULA BASED UPON THE ESTIMATED OPERATIONS BUDGET AND THE OPERATIONS FUND SURPLUS TO ASSESS THE MEMBERSHIP FOR THE DAY TO DAY FUNCTION OF THE ORGANIZATION. AS OF JUNE 30, 2022, ESCROW AGENTS' FIDELITY CORPORATION HAD 1,066 MEMBERS.


THE FIDELITY FUND ASSESSMENT USING A FORMULA BASED UPON THE AMOUNT TO BE ASSESSED, THE AVERAGE MONTHLY TRUST LIABILITIES OF EACH MEMBER DETERMINES THE AMOUNT TO BE ASSESSED FOR THE ENTIRE MEMBERSHIP TO PAY THE COST OF THE BOND AND CLAIM PAYMENTS.


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Board, Officers & Key Employees

Name (title)Compensation
Daniel Bovill
President
$241,513
Bill Nelson
Chair
$2,400
Jennifer Woodard
Vice Chair
$2,400
Albert Bartos
Director
$2,400
Dave Brooks
Director
$2,400
Alice Tsang Lancer
Director
$2,400

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Law Office Of Michael G Evans
Legal Service
$110,423
Lockton Insurance Brokers Llc
Insurance Broker
$349,542
View All Vendors

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$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$1,348,363
Investment income $44,103
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 $1,393,505

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