Insurance Council Of New Jersey Inc

Organization Overview

Insurance Council Of New Jersey Inc is located in Trenton, NJ. The organization was established in 1979. 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 12/2021, Insurance Council Of New Jersey Inc employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Insurance Council Of New Jersey Inc 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 12/2021, Insurance Council Of New Jersey Inc generated $996.6k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $1.0m during the year ending 12/2021. While expenses have increased by 7.9% 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

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO CREATE A POSITIVE IMAGE AND UNDERSTANDING OF THE PROPERTY/CASUALTY INSURANCE BUSINESS AND TO PROMOTE A POSITIVE BUSINESS ENVIRONMENT THROUGH EDUCATION, PUBLIC INFORMATION AND COMMUNICATION.

Describe the Organization's Program Activity:

Part 3 - Line 4a

INCLUDES MEMBER DUES, CONTINUING EDUCATION AND OTHER.OUR MISSION IS TO EDUCATE POLICY-MAKERS ON HOW LEGISLATION AND REGULATION AFFECT THE INDUSTRY. SEMINARS HELP WITH THAT EDUCATION. WE ALSO EDUCATE OURSELVES AS THE CHANGING LAWS AND REGULATIONS. ICNJ MEMBERSHIP COMMUNICATIONS HELP MEET THIS GOAL.


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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$953,364
Investment income $42,057
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 $996,590

Grants Recieved

Over the last fiscal year, we have identified 1 grants that Insurance Council Of New Jersey Inc has recieved totaling $25,000.

Awarding OrganizationAmount
Organization Name not Listed

PURPOSE: GENERAL SUPPORT

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$25,000
View Grant Recipient Profile

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